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OCTOBER 1978 / VOLUME 58 NUMBER

10

SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION

1

Motor Vehicle Sales

8

National Income and Product Tables

11

U.S. Department of Commerce
Juanita M. Kreps

/

Secretary

Courtenay M. Slater / Chief Economist
for the Department of Commerce

Key Source Data and Projections for
National Income and Product Estimates:
Third Quarter 1978

20

State Personal Income, 1978:1-1978: II

24

Regional Differences in Personal Income Growth,
1929-77

27

State Personal Income, 1975-77

31

Bureau of Economic Analysis

Capital Expenditures by Majority-Owned
Foreign Affiliates of U.S. Companies,
1978 and 1979

42

Summary National Income and Product Series, 1929-77

54

Revised Manufacturing and Trade Sales, 1977-78

56

George Jaszi / Director
Allan H. Young / Deputy, Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Danneiet A. Grosvenor
Statistics Editor: Leo V* Barry, Jr.
Graphics Editor: Billy Jo Hurley
Staff Contributors to This Issue: Kenneth P. Beckman,
Leo M. Bernstein, Robert B. Bretzfelder, Douglas R.
Fox, Howard L. Friedenberg, Linnea Hazen, L. A.
Lupo, Elizabeth H. Queen, Teresa L. Weadock

SURVEY OF CURRENT BUSINESS. Published monthly by

CURRENT BUSINESS STATISTICS
General

S1-S25

Industry

S25-S40

Subject Index (Inside Back Caver)

the Bureau of Economic Analysis of the U.S. Department
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U.S. DEPARTMENT OF COMMERCE DISTRICT OFFICES
ALA., Birmingham 35205
908 S. 20th St. 254-1331
ALASKA, Anchorage 99501
632 6th Ave. 265-5307

GA., Savannah 31402
222 U.S. Courthouse & P.O. Bldg.
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MICH., Detroit 48226
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N.C., Greensboro 27402
203 Federal Bldg. 378-5345

TEX., Dallas 75242
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MINN., Minneapolis 55401
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TEX., Houston 77002
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ILL., Chicago 60603
Rm. 1406 Mid Continental Plaza Bldg.
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MO., St. Louis 63105
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NEBR., Omaha 68102
1815 Capitol Ave. 221-3665

OHIO, Cincinnati 45202
550 Main St. 684-2944
OHIO, Cleveland 44114
666 Euclid Ave. 522-4750
OREG., Portland 97204
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IND., Indianapolis 46204
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NEV., Reno 89503
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PA., Philadelphia 19106
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COLO., Denver 80202
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IOWA, Des Moines 50309
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N.J., Newark 07102
4th Floor Gateway Bldg. 645-6214

PA., Pittsburgh 15222
1000 Liberty Ave. 644-2850

CONN., Hartford 06103
450 Main St. 244-3530

LA., New Orleans 70130
Trade
Mart 589-6546
4432
3 IInternational
i
lT
d M

505M
Ma r g U e t t e

N. MEX., Albuquerque 87102
Ave.,
A N.W.
NW 766-2386
8

P.R., San Juan 00918
659 Federal Bldg. 753-4555

FLA., Miami 33130
25 West Flagler St. 350-5267

MD., Baltimore 21202
415 U.S. Customhouse 962-3560

N.Y., Buffalo 14202
111 W. Huron St. 846-4191

S.C., Columbia 29204
2611 Forest Dr. 765-5345

GAM Atlanta 30309
1365 Peachtree St., N.E. 881-7000

MASS., Boston 02116
441 Stuart St. 223-2312

N.Y., New York 10007
26 Federal Plaza 264-0634

TENN., Memphis 38103
147 Jefferson Ave. 521-3213

ARIZ., Phoenix 85073
201 N. Central Ave. 261-3285
CALIF., Los Angeles 90049
11777 San Vicente Blvd. 824-7591
CALIF., San Francisco 94102
450 Golden Gate Ave. 556-5868




HAWAII, Honolulu 96850
300 Ala Moana Blvd. 546-8694

UTAH, Salt Lake City 84138
125 South State St. 524-5116
VA., Richmond 23240
8010 Federal Bldg. 782-2246
WASH., Seattle 98109
Rm. 706 Lake Union Bldg. 442-5615
W. VA., Charleston 25301
500 Quarrier St. 343-6181
WIS., Milwaukee 53202
517 E. Wisconsin Ave. 291-3473
WYO., Cheyenne 82001
2120 Capitol Ave. 778-2220

the BUSINESS SITUATION
CHART 1

CAL GNP increased at an annual
rate of 3% percent in the third quarter,
compared with 8% percent in the second
(table 1). The increase in GNP prices,
as measured by the fixed-weighted
price index, decelerated to 7 percent
from 11 percent. The key source data
and projections on which these estimates are based are detailed in an
article later in this issue of the SURVEY.
Their publication implements one of
the recommendations of the Advisory
Committee on Gross National Product
Data Improvement.
Personal consumption expenditures
(PCE), which had increased 6 percent
(annual rate) in the second quarter,
increased 3% percent in the third;
fixed investment, which had increased
15% percent, declined K percent; inventory accumulation, which had shown
little change, declined; and net exports,
which had increased sharply, increased
little. Government purchases was the
only component that strengthened in
the third quarter. As can be seen from
chart 1, the conventional demand
components differed widely in their

Real ProductChange from Preceding Quarter
Billion (1972)$

-10
30

CHANGE IN BUSINESS INVENTORIES

20
10
0
-10
30

PERSONAL CONSUMPTION EXPENDITURES

20

lulu

10
0
-10
20

contributions to the deceleration of
GNP.
The major factors that underlie the
deceleration of GNP in the third quarter—the aftermath of the first-quarter
severe weather and the coal strike, and a
downswing in motor vehicle production
from the second quarter to the third—
cut across the conventional demand
components. These factors emerge more
clearly if GNP is broken down as in
table 2. The weather and the strike
mainly affected construction—nonresidential, residential, and State and
local—and inventory investment. It
can be seen from the table that, if GNP
is adjusted for the effects of the weather
and the strike, it increased about 3%
percent instead of 8% percent in the
second quarter, and about 4 percent
instead of 3% percent in the third. The
adjusted third-quarter increase exceeded the actual increase because the
makeup from the severe weather and
the coal strike was smaller in the third
quarter than in the second, and therefore contributed negatively to the
change.

FIXED INVESTMENT

10
0
-10
10
0
-10

• • • • II.«

Senior Economists, Current Business Analysis Division

^ P ^ ^ ^m

Residential

NET EXPORTS

•~

0

•

_

1

BE A invites applications for senior-level economist positions (GS-15, $38,160—$47,500;
GS-14, $32,442—$42,171; and GS-13, $27,453—$35,688) in the Current Business Analysis
Division.
This Division is responsible for the SUEVEY OF CURRENT BUSINESS, and does research
on the economic situation and outlook, and related topics.
Applicants must have the expertise necessary to do advanced research of a policyoriented type in some of the following fields: business cycles, employment, fiscal policy,
money and finance, prices, wage-cost-productivity, and strategic industries such as automobiles and construction. Generally, the results of this research are for publication in the
SURVEY, and, accordingly, applicants must have writing skill.
Interested persons should write to Carol S. Carson, Chief, Current Business Analysis
Division, Bureau of Economic Analysis, U.S. Department of Commerce, Washington,
D.C. 20230. Applications should include, if possible, a completed Standard Form 171—
the Civil Service Commission's "Personal Qualifications Statement."

I

0 [-MT«"r
-10
1976
'
1977
'
1978
Seasonally Adjusted at Annual Rates
'.S. Department of Commerce, Bureau of Economic Analysis




7810-1

SURVEY OF CURRENT BUSINESS
because—pending the availability of
estimates of third-quarter corporate
profits—it is based on the assumption
that the third-quarter residual (the
constant-dollar equivalent of the statistical discrepancy) was at the secondquarter level.
Prices.—GNP prices, whether measured by the implicit price deflator, the
chain price index, or the fixed-weighted
price index, decelerated from about 11
percent (annual rate) in the second
quarter to about 7 percent in the third.

Further, if motor vehicle output (adjusted for the weather)—which mainly
affects PCE, producers' durable equipment, and change in business inventories—is set aside, GNP would have
accelerated even more—from 3 percent
(annual rate) to 5% percent. It is useful
to calculate yet another measure of adjusted output—that of the nonfarm
business economy. Adjusted output in
this sector of the economy accelerated
from 4 percent to 5% percent. The
third-quarter estimate is particularly
tentative and subject to large revisions,

Table 1.—Gross National Product in Current and Constant Dollars
[Seasonally adjusted at annual rates]
Current dollars

Constant (1972) dollars
Percent change from
preceding quarter
(annual rate)

Billions of dollars

1977

1978

IV
Gross national product
Final sales

III

IV

I

1978

II

III

1,958.1 1,992.0 2,087.5 2,141.1 1,354.5 1,354.2 1,382.6 1,394.3
1,945.0 1, 975.3

Change in business inventories _. .
Less:
Rest-of-the-world
product
Equals: Gross
product

II

I

1978

1977

13.1

16.7

15.9.

18.2

2,067.4

2,123.4 1, 347.1 1, 341.8 1,369. 9 1,383.5

20.1
21.1

domestic
1,942.2 1,973.8

2,066.5

17.6

7.5

12.3

12.7

10.7

21.2

6.6

7.5

8.8

8.6

2,119.9 1,347.9 1,346.6 1,373.9 1,394.3

I

III

II

-0.1

8.7

3.4

-1.6

8.6

4.0

64.1

85.3

—.4

8.3

-9.0
3.5

Table 2.—An Alternative Breakdown of Real GNP
[Seasonally adjusted at annual rates]
Billions of 1972 dollars
Change from preceding
quarter

Levels

1977
III
GNP.

1978
IV

II

III

1,343.9 1,354.5 1,354.2 1,382.6 1,394.3

Less: Effects of 1severe weather
and coal strike

-11.0

6.0

77.8

81.5

79.4

84.3

-l.o

1.5

79.8

197.8
34.5
9.0

198.6
36.1
7.4

200.7
32.5
5.5

202.7
30.5
4.3

IV

II

III

-0.3

28.4

11.7

-11.0

17.0 - 2 . 0

10.6

10.6

10.7

3.7 - 2 . 1
-1.5

GNP less effects of severe
weather, coal strike, and
motor vehicle output
1,266.11,273.0 1,284.3 1,293.8 1,310.5
Less: Nonbusiness G N P .
FarmGNP
Residual..

1978

4.0

GNP less effects of severe
weather and coaI strike
1,343.911,354. 5 1,365.2 1,,376. 6 1,,390.3
Less: Motor vehicle output
Less: Effects
of severe
weather 1

1977

11.3

1977

13.7

4.9 -4.5
3.0 -1.5
9.5

16.7

2.1
2.0
203.0
1.6 - 3 . 6 - 2 . 0
32.2
-1.2
4.3 -1.6 - 1 .

.3
1.7
0

Nonfarm business G N P less
effects of severe weather, coal
strike, and motor vehicle
output
_
_
1,024.8 1,030.9 1,045.6 1,056.3 1,071.0

6.9

11.4

6.1

Change in business inventories
10.4
11.1 - 6 . 5
3.9
14.8
13.5
Final sales
1,014. 41L, 027.01,,030.8 1,,042. 8 1,059.9 12.6

14.7

10.7

Percent change from
preceding quarter
(annual rate)

14.7

10.9 - l . : -2.4
3.8 12.0 17.1

IV

1978
I

3.2

-0.1

3.2

3.2

20.4 -9.9

II

III

8.7

3.4

3.4

4.0

27.1 -19.7

3.0

5.3

1.6
4.3
4.0
19.9 -34.3 -22.4

24.2

5.8

4.2

5.7

1.5

4.7

6.7

2.2

2.4

3.5

1. The estimates of the effect of the weather have been revised from those shown in the July issue of the SURVEY OF CURRENT
B USINESS and part of the revised estimates has been allocated to motor vehicle output.




October 1978

Over one-half of the deceleration was
due to food.
Table 3 shows the GNP fixedweighted price index and its components. As can be seen from the table,
the deceleration in the prices of final
sales was the same as in GNP prices.
Prices paid by U.S. purchasers (final
sales less exports plus imports) decelerated less—from 10 percent (annual
rate) to 7% percent—because the prices
of exports, which are not included in
this aggregate, decelerated more than
the prices of final sales, and the prices
of imports, which are included, accelerated. Prices of all major components of goods and services bought
by U.S. purchasers, except producers'
durable equipment, increased less in
the third quarter than in the second
(chart 2). Prices of producers' durable
equipment increased at the same rate.
Prices of PCE on food increased h}{
percent in the third quarter, after
increases of 13% and 20K percent in the
first and second quarters. The deceleration was in food purchased for home
consumption, which accounts for about
two-thirds of food expenditures; the
major factors were declines in meat and
fresh vegetable prices. Prices of restaurant meals and beverages continued
to increase at about the 10-percent rate
registered in the first and second quarters. The prices of the other components
shown in the table increased ){ to 2
percentage points less than in the
second quarter.
Labor markets.—Labor market conditions showed little change in the third
quarter. The employment-population
ratio held at its second-quarter level,
and the unemployment rate was up 0.1
percentage point, to 6 percent. Employment increased 380,000, one of the
smallest quarterly increases in the ongoing expansion, and only a marked
slowdown in labor force growth prevented a sharp rise in the unemployment rate. A 425,000 increase in the
establishment measure of employment
was much smaller than the increases
recorded in the two preceding quarters.
Weekly hours, at 35.8, were down 0.2
from the second quarter.
Productivity and costs.—Reflecting essentially the same factors that caused
the third-quarter deceleration in real

SUEVEY OF CUERENT BUSINESS

October 1978

GNP, increases in gross product and
compensation in the business economy
other than farm and housing were much
smaller in the third quarter than in the
second, and hours were down (table 4).
Even though the deceleration in real
gross product was sharp, with hours
down, real product per hour increased
3% percent (annual rate), compared
with 2 percent in the second quarter.
CHART 2

Fixed-Weighted Price Index:
Change From Preceding Quarter

0

I

1

I

1

I

1

i

1

1

I

1

25
PERSONAL CONSUMPTION EXPENDITURES

20 - -

15

-

/ [
/ \
/
\
/

Energy

10

-

5

-

^

/

20

[Seasonally adjusted]

i

i

i

1

1 1

1

!

1

II

III

IV

139.9

142.5

144.1

146.5

15
Residential

/'\ A

Nonresidential Structures

1
1976

I

I
1977

I

I

I

I

Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis




I

1978
78-10-2

III

II

III

IV

I

II

152.9

155.6

7.4

4.7

6.8

7.0

11.0

7.2

4.7

6.9

7.0

11.0

7.2

-.4

8.1

12.9

7.6

12.3

2.9

10.0

III

139.8

142.4

144.0

146.4

148.9

152.8

155.5

7.4

178.4

182.0

181.8

181.7

185.2

190.9

194.4

8.5

Plus: Imports

195.2

199.2

202.0

203.5

209.5

211.0

216.0

8.4

5.7

Equals: Final sales less exports
plus imports
141.0

143.6

145.4

147.9

150.6

154.2

157.0

7.4

5.2

7.1

7.4

138.8
145.7
176.8

141.2
148.8
181.2

142.8
149.6
183.1

144.5
150.9
185.3

147.3
155.8
186.8

150.9
163.1
190.5

153.3
165.4
194.0

6.9
8.8
10.4

4.6
2.1
4.2

5.0
3.4
4.8

7.9
13.6
3.3

10.2
20.3
8.4

6.6
5.7
7.5

133.3

135.2

137.0

138.9

141.2

143.7

146.1

5.8

5.5

5.6

6.7

7.5

6.8

144.8
151.8

147.7
154.9

149.9
157.4

153.7
160.8

156.2
163.3

159.9
168.1

10.5

6.6
6.2

9.8
12.5

11.8

142.6
157.4
145.6

145.6
160.4
147.4

148.5
166.1
151.0

151.1
168.6
153.4

154.0
175.5
156.4

8.3
8.5
7.1
14.1
7.1

6.2
6.6

140.1
152.3
143.1

163.3
172.9
157.0
181.8
158.9

8.0
5.0

8.4
14.9
10.2

7.1
6.2
6.6

8.0
17.5
7.8

7.9
15.2

141.9
143.9

143.3
147.2

144.6
149.3

149.6
152.0

151.4
154.9

153.1
158.6

154.4
162.0

3.8

3.6
5.9

14.7
7.4

4.9
7.8

4.5
10.0

3.6

Other
„.
Nonresidential structures _
Producers' durable equipment
Residential
Government purchases

Producers' Durable Equipment

II

Less: Exports

Personal consumption expenditures
Food
Energy 1
Other personal consumption expenditures

10

149.0

1978

1977

Less: Change in business
inventories
Equals: Final sales.

1

1978

1977

FIXED INVESTMENT

/

Percent change from preceding
quarter (annual rats)

Index numbers (1972=100)

Gross national product

1 ,

commodity-producing industries—m an*
ufacturing, construction, and mining—
and in the distributive industries. The
deceleration was particularly large in
construction and mining, where the
second-quarter increases had included
strong makeup effects from the severe
winter weather and the coal strike.
Makeup effects continued in the third
quarter, but were smaller. In the
distributive industries, the deceleration
was in transportation and trade. In
transportation, it was in motor freight,
where the second quarter had been
unusually strong, in part reflecting the
makeup effects in the commodityproducing industries. In trade, it was
mainly in retail trade, where sales have
been relatively flat since April.
Farm proprietors' income declined
$% billion (annual rate) in the third
quarter, after increasing $2 billion in the
second. The shift was mainly due to
cash receipts; changes in farm inventories and expenses were partial offsets.
In the second quarter, cash receipts
had increased substantially, reflecting
sharp increases in crop and livestock
prices; in the third quarter, livestock
prices decelerated and crop prices

Table 3.—Fixed-Weighted Price Indexes

Food

r
-5

Personal income increased $45 billion
(annual rate) in the third quarter,
compared with $53% billion in the
second (table 5). Setting aside transfer
payments, the deceleration in personal
income was $17 billion. The increase in
transfer payments in the third quarter
was unusually large—$9% billion, compared with $1% billion in the second. It
was mainly due to a 6%-percent cost-ofliving increase in social security benefits,
which became effective in July and
amounted to about $6 billion.
Wage and salary disbursements increased $20}£ billion, compared with
$39% billion in the second quarter. The
deceleration occurred largely in the

J

K

1 Other

Personal income and its disposition

\
\
\

^
\

The increase in compensation per hour,
at 9 percent, was fractionally more than
in the second quarter, and the increase
in unit labor cost, at 5 percent, was 1
percentage point less. The third-quarter
estimates of gross product and the ratios
into which it enters—gross product per
hour and unit labor cost—are subject
to the limitations noted in connection
with the discussion of the residual in
table 2.

Federal
State and local.

1. Gasoline and oil, fuel oil and coal, electricity, and gas.

10.1

7.4

SUEVEY OF CUEEENT BUSINESS
Table 4.—Real Gross Product, Hours, and
Compensation in the Business Economy
Other Than Farm and Housing

October 1978

Table 5.—Personal Income
quarter was less than in the second—
2% percent, compared with 3% percent. [Change from preceding period; billions of dollars at seasonally adjusted annual rates]
Increases in real income have been
[Percent change from preceding quarter, seasonally
adjusted at annual rates]
much smaller in 1978 than in 1977,
mainly because increases in consumer
1978
prices have been much larger; quarterly Personal income
and salary disbursements
II
III
increases in real income have averaged Wage
Manufacturing
_
Other commodity-producing
only 2% percent in 1978, compared with
Distributive
"
Real gross product
0.7
3.4
11.9
Services
by2 percent in 1977.
Hours
4.4
-.4
9.5
Government and government enCompensation
16.6
8.4
18.8
terprises
Real PCE increased 3}& percent
Real gross product per hour
2.2
-3.6
3.7
Proprietors' income
.
Compensation per hour
8.5
11.7
(annual rate), compared with 6 percent
8.9
Unit labor cost
6.1
15.9
5.0
Farm
_
in the second quarter (table 6). The
Nonfarm
deceleration was more than accounted
Rental income of persons
declined. Deficiency payments under for by PCE on motor vehicles and parts
the Food and Agriculture Act of 1977 (chart 3). These expenditures had in- Transfer payments
Other income
also contributed to the shift; they creased 35% percent in the second
Less: Personal contributions for social insurance
_
1.2
declined about $1 billion in the third quarter, and declined 18% percent in the
quarter, after little change in the second. third. Total unit sales of new passenger
Gross receipts of nonf arm proprietors cars, which include sales to business as
PCE on furniture and equipment and on
increased much less in the third quarter well as to consumers, had increased 1.2
clothing and shoes increased much less
than in the second, because of the million (annual rate) in the second
than in the second quarter. Possibly in
developments in construction and re- quarter, to 12 million; in the third
response to the deceleration in food
tail trade just mentioned. However, quarter, they declined 0.8 million, to
expenses charged against these receipts 11.2 million. The swing in the produc- prices, PCE on food turned up after
were about $1% billion less than in the tion of passenger cars was much declining in the preceding two quarters.
second quarter, due to the property smaller, because more of second- than of PCE on electricity and gas increased; it
tax reduction in California under Prop- third-quarter sales had come out of had declined sharply in the second
osition 13. (See the discussion of Propo- inventories. Total unit truck sales were quarter from its high level during the
sition 13 in last month's "Business also down in the third quarter—the severe winter weather.
Reflecting the changes in disposable
Situation.") As a result, the increase in first substantial decline since the third
nonf arm proprietors' income was a quarter of 1977. Recent developments income and in personal outlays, in
little more than that in the second in motor vehicle sales are discussed which PCE is the dominant element,
quarter. Proposition 13 accounted for later in the "Business Situation."
the personal saving rate slipped to 5.1
almost all of the $2 billion increase in
There were large offsetting changes percent from the second-quarter rate
rental income of persons; rental income among the other PCE components. of 5.3 percent. The third-quarter saving
had declined %){ billion in the second
quarter.
Table 6.—Personal Consumption Expenditures in Current and Constant Dollars
Personal taxes increased about $13%
[Seasonally adjusted at annual rates]
billion (annual rate), compared with $12
billion in the second quarter. Because of
Constant (1972) dollars
Current dollars
provisions of the Tax Reduction and
Percent change
Simplification Act of 1977, refunds of
from preceding quarter
Billions of dollars
(annual rate)
individual income taxes, which are
netted against tax payments, had ex1978
1978
1978
1977
1977
ceeded normal levels by $6 billion in the
III
I
II
II
III
I
III
IV
IV
I
II
first 2 quarters of the year; in the third
quarter, they returned to a more
consumption ex3.4
-1.4
6.0
886.3 893.7
873.5
normal level. However, withheld taxes Personal
876.6
1,255.2 1,276.7 1,322.9 1,354.5
penditures
25.2
3
.1
-13.7
144.6
145.8
137.8
increased less than in the second
143.0
197.8
187.2
183.5
199.3
Durables
quarter, reflecting the course of wages
Motor vehicles and
-18.7
35.7
-8.7
61.0
64.2
59.5
60.9
92.5
90.0
84.1
84.0
parts . . . .
and salaries. Disposable personal in103.2
99.4
105.3
109.2
82.1
78.3
81.6
83.7 -17.2
17.6
10.7
Other durables _
3.5
-5.5
3.6
come increased 9 percent, compared
338.1 333.3 336.3 339.2
501.4
519.3 529.4
496.9
Nondurables
.5
2
.
2
4
.
6
with 12% percent in the second quarter.
164.9
164.7
165.6
167.6
267.8
272.0
257.7
252.6
Food
64.8
32.5
33.5
33.5
33.5
13.0
-.1
-. 1
64.2
61.4
64.3
Energy *
Even though prices of PCE decelerated
187.2
192.6
138.0
134.1
138.0
140.8 -10.7
12.1
8.1
179.6
Other nondurables
182.9
5.7
in the third quarter, their deceleration
625.8
402.4
404.2
7.0
591.8
605.8
395.6
409.8
1.9
571.1
Services 2
41.5
43.9
22.5
24.6
22.5
23.3
41.3 -29.5
14.4
43.3
Energy
39.3
was not sufficient to offset that in dis581.9
373.0
377.8
381.7
386.5
5.2
4.2
5.2
548.5
564.3
Other services
531.9
posable income. Consequently, the in1. Gasoline and oil, and fuel oil and coal.
crease in real income in the third
2. Electricity and gas.




October 1978

SUEVEY OF CURRENT BUSINESS

rate was about 0.2 percentage point
higher than it would have beeen in the
absence of Proposition 13.

Investment
Real nonresidential fixed investment
was unchanged in the third quarter
after a large increase—21% percent
(annual rate)—in the second (table 7).
The second-quarter increase had reflected a substantial makeup in structures from the effects of the severe
weather and a large increase in the
motor vehicle component of producers'
durable equipment. In the third quarter, the makeup effects were smaller
and motor vehicles declined. Combined,
nonresidential structures adjusted for
weather effects and producers' durable
equipment other than motor vehicles,
have increased strongly over the last 8
quarters—by about 12 percent. The
former accelerated substantially over
the last 4 quarters and the latter
decelerated.
Real residential investment held at
about the same level as in the preceding
3 quarters. Over this period, multifamily construction strengthened, offsetting a weakening in single-family
construction. The severe weather depressed construction in the first quarter
and raised it in the second and third. It
is difficult to adjust for the weather
effects; it would appear, however, that
adjusted
residential
construction
reached a peak in the first quarter,
dropped in the second, and slipped a
little further in the third. Similar unevenness in the rates of decline have
occurred in previous periods in which
residential construction was at or near
a turning point. Apart from statistical
shortcomings, residential construction
reflects the unevenness of the impact of
financial, legal, regulatory, and other
factors that influence the decision to
invest in residences.
So far, residential construction has
been resistant to higher interest rates.
The desirability of residences as a form
of investment—because they have provided better protection against inflation than have most financial assets—
appears to have offset the impact of
near-record mortgage interest rates. The
availability of funds for mortgages was
supported by several developments in
recent quarters. Among them were high




CHART 3

Real Personal Consumption Expenditures: Change From Preceding Quarter
Percent
30

Percent
30
FIRST QUARTER 1978

20

20

10

TOTAL

-10

40
SECOND

30 -

20 -

10

1
-

iliiii

0

-10

-20

1

1

1

1

!

-20

10

10

THIRD QUARTER 1978

-10

-20

I
o

J_

I

_L

o
Percent Distribution
Seasonally Adjusted at Annual Rates
IOO

-20
100

^Gasoline and oil, fuel oil and coal, electricity, and gas.
Note.—The area of the bar of each component is approximately proportionate to that component's contribution to the percentage change in total PCE.
U.S. Department of Commerce, Bureau of Economic Analysis

SURVEY OF CURRENT BUSINESS

6
levels of commitments to purchase
mortgagees in the secondary market by
the Federal National Mortgage Association and the Federal Home Loan
Mortgage Corportation, record amounts
of advances to thrift institutions by the

Federal Home Loan Bank Board, and
the issuance by thrifts of two new kinds
of high-yield saving certificates. However, the advances and the high-yield
certificates cannot be counted on to
provide continuing support—the latter

Table 7.—Fixed Investment in Current and Constant Dollars
[Seasonally adjusted at annual ratesl
Constant (1972) dollars

Current dollars

Percent change
from preceding quarter
(annual rate)

Billions of dollars

1977
IV

1977

1978
I

II

III

IV

1978
I

1978

II

III

I

II

III

Fixed investment

300.5

306.0

325.3

334.1

192.8

193.4

200.4

200.1

1.2

15.3

-0.6

Nonresidential
Structures. .

200.3
67.4

205.6
68.5

220.1
76.6

225.4
79.5

132.5
41.0

133.8
41.0

140.5
44.6

140.4
45.0

4.2
-.3

21.3
40.3

-.2
3.9

132.8

137.1

143.5

145.9

91.5

92.9

95.9

95.4

6.2

13.6

-2.0

38.0
94.8

39.7
97.4

44.4
99.1

42.2
103.7

27.3
64.2

27.9
65.0

30.6
65.3

28.5
66.9

9.0
5.0

44.5
1.9

-25.0
10.5

100.2

100.3

105.3

108.8

60.3

59.5

59.9

59.7

-5.2

2.7

-1.5

Producers'
durable
equipment
Autos, trucks, and
buses .
Other
Residential . _

Table 8.—Net Exports of Goods and Services in Current and Constant Dollars
[Seasonally adjusted at annual rates]
Constant (1972) dollars

Current dollars

Percent change
from preceding quarter
(annual rate)

Billions of dollars

Net exports of goods and
services.
Exports
M erchandise
Agricultural- _
Nonagricultural
Other
Imports
M erchandise
Petroleum
Nonpetroleum
Other

1977

1978

1977
IV

I

-23.2
172.1
117 8
22.7
95.2
54.2
195.2
158.5
43.0
115.5
36.7

-24.1
181.7
122.7
26.1
96.6
59.0
205.8
167.5
39.7
127.8
38.3

II

-5.5
205.4
140.3
32.0
108.3
65.1
210.9
171.5
42.0
129.5
39.4

1978

III

IV

I

-6.5
210.9
145.2
31.8
113.4
65.7
217.3
177.2
43.4
133.8
40.1

3.1
96.0
66.5

2.9
99.1
67.7

29.5
92.9
71.7
21.2

II

1978
III

I

II

11.3
108.4
74.5

12.0
109.5
75.9

13.7
7.1

43.3
46.8

3.8
7.8

31.5
96.2
74.5

34.0
97.1
75.3

33.6
97.5
75.7

29.7
15.2
16.6

35.8
3.7
4.2

-4.5
1.7
2.1

21.7

21.9

21.9

16.8

2.3

.2

III

Table 9.—-Government Purchases of Goods and Services in Current and Constant Dollars
[Seasonally adjusted at annual rates]

]Billions

1978

1977
IV
Government purchases of
goods and services
Federal. _
National defense
Nondefense _
State and local _




I

II

Percent change
from preceding quarter
(annual rate)

of dollars

1978

1977
III

IV

I

because they carry interest rates that
may in the longer run be too high in
relation to rates of return on assets held
by thrifts.
The real change in business inventories was $10% billion (annual rate), $2
billion less than in the second quarter.
The third-quarter estimate is based on
preliminary data for manufacturing and
trade for August, which show a large
increase from July, and assume little
further change from August to September. The third-quarter reduction in inventory accumulation reflected a continued sharp reduction in accumulation
in wholesale trade, traceable mainly to
nondurables, where inventories were
liquidated. Increased accumulation in
retail trade was a partial offset. Retailers other than auto dealers stepped
up additions to inventories, and auto
dealers reduced inventories less than in
the second quarter.
Chart 4 relates constant-dollar business inventories to constant-dollar business final sales and to constant-dollar
business final sales of goods and structures. Analytical use of the former relationship implies that the production of
services results in a demand for inventories that is similar to that generated
by the production of goods and structures. Use of the latter implies that the
production of services does not generate
demand for inventories. Both implications are extremes. As shown in the
upper panel of the chart, the inventoryfinal sales ratio in the third quarter of
1978 was 0.268, about 0.012 less than in
1968, a period that is often considered
to have had "normal" inventory-sales
ratios. As shown in the lower panel, the
inventory-final sales of goods and structures ratio in the third quarter was
0.421, 0.011 more than in 1968.

Net exports
Constant (1972) dollars

Current dollars

October 1978

II

1978
III

I

II

III

412.5

416.7

424.7

441.3

274.5

272.1

271.9

277.8

-3.5

-0.2

9.0

152.2
97.1
55.1
260.3

151.5
97.9
53.6
265.2

147.2
98.6
48.6
277.6

156.1
100.2
55.9
285.2

103.6

101.2

97.1

101.9

-8.9

-15.3

21.1

170.9

170.8

174.8

175.9

-.1

9.6

2.6

Real net exports of goods and services, at $12 billion (annual rate), was
a little more than in the second quarter
(table 8). The third-quarter estimates,
which are subject to substantial revision, are based on the assumption that
September merchandise exports were
down slightly from August and that
merchandise imports were up.
It is difficult to interpret quarterly
changes in net exports over the past

SUEVEY OF CUKKENT BUSINESS
CHART 4

Constant-Dollar Business Inventories, Final Sales and Final Sales of Goods
and Structures, and Inventory-Sales Ratios
340

y .300
X

1978:111

Change

Net exports of goods and
services
Merchandise ,net

12.5

12.0

-0.5

1.9

.2

-1.7

Exports
Agricultural
Nonagricultural

70.0
13.1
56.9

75.9
16.8
59.1

5.9
3.7
2.2

Imports
Petroleum
Nonpetroleum

68.1
9.1
58.9

75.7
8.7
66.9

-.4
8.0

10.7

11.7

1.0

Other, net

..280

yvfti\*^£k

~~

«/*

Z 300

miAyO*—**

t>

to

—

y'000**0*y^

y/

y

/

—

-

260

240

<™y

-

1

220

B50

1
950

900

i

1

1000
1050
Final Sales, Billions of 1972$

/

f

1

1100

1150

-

/.430
/

300 -

-

W s PSwiA

A//A
280 -

^ry^imi

/y\m\/

/

260

-

Government
Real government purchases increased
9 percent (annual rate) after showing no
change in the second quarter (table 9).
This pattern reflected changes in Federal purchases that were mainly due to
the operations of the Commodity Credit
Corporation (CCC) partly offset by
changes in State and local purchases
that

Were

mainly




d u e t o t h e Severe

1200

/.470
/
/.450

320 -

[Billions of 1972 dollars, at seasonally adjusted annual rates]
1977:111

..290

y

320 -

o

year, because—quite apart from discontinuities that may have been introduced by improvements in statistical
methodology made by the Census Bureau in January—trade was distorted
by the East Coast dock strike, which
began last October and was settled in
late November. A somewhat better
perspective can be obtained if the third
quarter of 1978 is compared with the
third quarter of 1977. As can be seen
from the accompanying tabulation, real
net exports in the third quarter of 1978
were about the same as a year earlier. A
reduction in the merchandise balance
was offset by an increase in the balance
on other transactions, which cover
services including the net inflow of property incomes from abroad. The decline
in the merchandise balance was due to
a larger increase in imports than in exports. Nonpetroleum imports increased
sharply over the year. In contrast,
petroleum was down a little, as the
opening of the Alaskan pipeline permitted substitution of domestic production for imports beginning in the
latter part of 1977. Nonagricultural exports, which account for the bulk of
merchandise exports, registered only a
moderate increase. An ususually sharp
increase in agricultural exports was
traceable to heavy shipments of wheat
and feed grains to Eastern Europe and
Southeast Asia.

Inventories , Billions

October 1978

~~
240 ~~///

/

/

/
/

/

220
500

-

/

550

^69-1
—

/

1
i
i
1
600
650
700
750
Final Sales of Goods and Structures, Billions of 1972$

1
800

850

Note.—End-of-quarter inventories, seasonally adjusted; final sales seasonally adjusted at annual rates. Blue lines represent ratios of inventory stocks to final sales.

U.S. Department of Commerce, Bureau of Economic Analysis

SURVEY OF CURRENT BUSINESS

8

Table 10.—Federal Government Receipts and Expenditures, NIPA Basis
[Billions of dollars; seasonally adjusted at annual rates]
Change from preceding
quarter
1977

1978
1978

IV
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals.,.
Indirect business tax and nontax accruals
Contributions for social insurance
Expenditures

II

III

II

III

385.5

396.2

424.8

n.a.

10.7

28.6

174.8
62.9
25.6
122.2

176.8
59.6
26.5
133.3

186.7
72.6
27.9
137.6

199.1

2.0
-3.3
.9
11.1

9.9
13.0
1.4
4.3

n.a.
12.4
n.a.
.3
2.3

444.1

448.8

448.3

466.1

4.7

-.5

17.8

n.a.

28.2
139.9

October 1978

1978 and set a record of 15.1 million.
New passenger car sales wrere up
slightly over 1977 and turned in the
second best performance in history.
New truck sales neared 4 million, accounting for over one-fourth of all motor
vehicles sold—the largest share ever. In
some areas of the country, particularly
in the Midwest, as many or more new
trucks than new cars were sold.
New car sales

Retail sales of new passenger cars
totaled 11.3 million in the 1978 model
year, up from 11.0 million in 1977. All
8.2
180.2
.5
188.9
1.9
180.7
Transfer payments
178.3
2.0
73.9
75.9
77.7
1.8
2.8
Grants-in-aid to State and local governments.
71.1
of the increase was in domestic sales—
1.4
33.2
34.6
1.4
Net interest paid.
36.0
2.5
30.7
10.0
10.0
Subsidies less current surplus of government enterprises
-2.5
7.5
-1.8
11.8
0
to 9.3 million from 9.0 million. Classi.2
.2
Less: Wage accruals less disbursements
0
fication of models into size categories
Surplus or deficit (—), national income and product
based on interior volume (as described
accounts
_
_
6.0
29.0
-58.6 -52.6
in the footnote to chart 6) shows that
n.a. Not available.
the increase was centered in small
weather. State and local purchases in- in those quarters, or on total real GNP. car—subcompacts and compacts—sales.
creased 2% percent in the third quarter, Rather, their effects were on the dis- Domestic small car sales in the 1978
compared with 9){ percent in the second. position of production among various model year totaled 3.6 million, up from
The second-quarter increase reflected a uses, including inventory investment. 3.3 million in 1977, and they comprised
32 percent of the market, up from 30
recovery of construction from its de- NIPA
Federal sector.—Table 10 percent. Domestic intermediate sales
pressed first-quarter level, as well as a rounds out information on Federal
partial makeup of construction lost in receipts and expenditures presented totaled 3.0 million in both years, and
the first quarter; the third-quarter in- earlier. The entry for corporate profits their share slipped one-half percentage
point to 27 percent. Domestic full-sized
crease was not affected materially,
tax accruals, and hence those for total car sales dropped to 2.6 million and a
because the makeup continued at apreceipts and for the deficit, cannot be 23%-percent share from 2.7 million and
proximately the second-quarter rate.
filled in, because estimates of third- a 24%-percent share. Import sales were
Federal Government purchases in- quarter corporate profits are not yet 2.0 million in both 1978 and 1977, and
creased 21 percent (annual rate) after available. Corporate profits on which their share slipped to 18 percent from
a decline of 15% percent in the second
taxes are accrued will increase much 18% percent.
quarter. The second-quarter decline had
less in the third quarter than in the
CAFE standards.—The 1978 model
been mainly due to a swing to net loan
second, reflecting the much smaller year was the first year in which domesredemptions as part of the CCC agritic car manufacturers had to meet
cultural price support operations, and increase in GNP and a decline in
legislated fuel economy standards. The
inventory
profits.
Accordingly,
the
the third-quarter increase was mainly
Corporate Average Fuel Economy (CAdue to a cessation of these redemptions. third-quarter increase in corporate prof- FE) standard for 1978 was 18 miles
(In the national income and product its taxes will be much smaller than in per gallon (mpg). The CAFE is comaccounts, CCC loan redemptions are the second quarter. With a reasonable puted for each manufacturer as the
recorded as negative government pur- assumption about the magnitude of average of mpg ratings for their models,
chases, and CCC loan extensions as the increase, the Federal deficit on a weighted by number of each model they
positive government purchases.) The national income and product account produce. According to preliminary Enswing in Federal purchases traceable to basis will not be very different from the vironmental Protection Agency estiCCC operations had important impli- $23% billion (annual rate) deficit in the mates, the average for all cars produced
cations for agriculture and the fiscal second quarter. As can be seen from the in 1978 was about 19% mpg, well above
position of the Federal Government. table, deficits about twice as large had the standard, and the standard was met
However, in principle, it had no effect been registered in the first 2 quarters by every manufacturer.
on the changes in real GNP: GNP is a of the fiscal year.
The fuel economy of the various
measure of production, and hence inmodels is closely associated with their
cludes agricultural production; it is
Motor Vehicle Sales
size: The most popular 1978 model
apparent that the second- and thirdsubcompacts were rated 20-34 mpg,
quarter changes in CCC loan operations
Sales of new motor vehicles increased compacts 19-22 mpg, intermediates
had no effect on agricultural production for the third consecutive model year in 17-22 mpg, and full-sized 15-19 mpg.
Purchases of goods and services
National defense
Nondefense




152.2
97.1
55.1

151.5
97.9
53.6

147.2
98.6
48.6

156.1
100.2
55.9

-.7
.8
-1.5

-4.3
.7
-5.0

1.6
7.3

SUKVEY OF CUERENT BUSINESS

October 1978

Therefore, because all units produced
are eventually sold, the mix of model
sales is an important factor in the
manufacturers' effort to meet the CAFE
standard.
In 1979 the standard rises to 19.0
mpg, and the Environmental Protection Agency reports that prototype
1979 models, assuming a sales mix
similar to 1978, averaged slightly less
than 20 mpg. The narrower margin in
1979 indicates that each manufacturer
will have to monitor its sales mix
closely to ensure meeting the CAFE
standard.
New car pricing.—In April 1978, U.S.
car manufacturers announced price increases averaging about 1% percent on
1978 models. The mid-model year price
increase was a departure from the usual
practice of raising prices only in the fall,
when new models are introduced. According to the manufacturers, frequent
price increases would allow them to
cover rising costs more closely in line
with their occurrence, rather than their
having to anticipate the next full year's
cost increases. Further, more frequent
price changes allow manufacturers more
• • • I M H H H M H H M B H CHART 5

Retail Sales of New Passenger Cars
Million units (ratio scale)
20

Market developments by size category.—

Imports

.A/
I 1I I I I I I I 1I I I I I 1I I I I 1 11I I I I 1 1M
1971
72
73
74
75
76
77
78

Seasonally Adjusted at Annual Rates
Data: Motor Vehicle Manufacturers Association of the United States, Inc. and
Ward's Automotive Reports; seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis

275-875 O - 78 - 2




freedom to adjust individual model
prices, which, for reasons noted above,
is of increased importance to them.
Price increases on 1979 models, which
were introduced in late September and
early October, average slightly over 4
percent. They bring the increase over
last September's prices to about 6 percent, in line with an agreement reached
between the administration and the
manufacturers to hold price increases to
the average of the past 2 years. The
1979 price increases are higher than 6
percent on full-sized and intermediate
models, and they taper to small increases or even decreases on some subcompact models.
Prices of imported cars—85 percent
of which are of Japanese and German
manufacture—were raised sharply several times during the 1978 model year.
The major factor behind these price increases was the depreciation of the U.S.
dollar against the Japanese yen and
German mark; from September 1977 to
September 1978, the dollar's value fell
29 percent against the yen and 15 percent against the mark. Including the
price increase of 4-8 percent on 1979
models announced by several leading
Japanese manufacturers, average import prices are likely to be up over 20
percent from last September.

78-io 5

The small car market has increased in
size over the past few years as higher
gasoline costs have increased the appeal
of small cars to consumers. More recently, domestic manufacturers promoted small car sales because they
needed to sell small cars to raise their
CAFE's. The 1978 increase in small
car sales was concentrated in domestic
subcompacts, sales of which were up
by one-fifth from 1977. The introduction of two new domestic models and
the several sharp increases in import
prices, which led to substitution of
domestics for imports (nearly all of
which are subcompacts), contributed
to the 1978 increase.
In 1979 several additional new and
redesigned domestic models debut, and
price increases on other subcompacts
are limited. The use by domestic manufacturers of front-wheel drive to increase interior room and turbochargers

9
to improve engine performance and fuel
economy will be more prevalent in 1979.
To remain price competitive, one foreign manufacturer has begun producing
1979 models in a U.S. plant, and other
foreign manufacturers may follow suit.
Despite the recent increases in small
car sales, intermediate and full-sized
cars still account for over one-half of all
cars sold in the United States. Because
the mix of sales changes only slowly,
manufacturers must find ways to upgrade the fuel economy of these large
cars to increase their CAFE rating. As
discussed in the September 1977 SURVEY OF CURRENT BUSINESS,

the

im-

provement in overall fuel economy in
the past several years has been largely
due to technological changes and not
to major shifts among the conventional
size categories. Two technological
changes to improve fuel economy for
large cars are the substitution of aluminum and plastic for iron and steel, and
downsizing—the reduction of exterior
size and weight without affecting interior size. These changes reduce vehicle
weight, allowing the use of smaller
engines, which are more fuel-efficient.
CHART 6

Domestic Sales by Size Category
Million units (ratio scale)
6

Full-Sized

1.5

I II 1I I I II N IMtIM I I MI 1I I I 1I M
1971

72
73
74
75
76
77
Seasonally Adjusted at Annual Rates

78

Note.—Retail sales of new cars generally were classified by interior volume as
follows: Small—up to 108 cubic feet; intermediate—108 to 121 cubic feet; fullsized—over 121 cubic feet. Several small and intermediate luxury models were
placed into the full-sized category.
Data: Motor Vehicle Manufacturers Association of the United States, Inc.;
seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis

78io-6

SUEVEY OF CUERENT BUSINESS

10
Over the 1970's, the intermediates
have gradually increased their market
share at the expense of full-sized cars,
partly due to their better fuel economy
and to a decrease in average family size.
Intermediate sales started off slowly in
1978, attributable to delayed consumer
acceptance and initial short supply of
several redesigned downsized models,
but picked up during the year. Aided
by the extensive downsizing, the shift
toward six- and small eight-cylinder
engines from large eight-cylinder engines continued in 1978. No new or redesigned intermediates are introduced
in 1979; the more fuel-efficient diesel
engine is offered for the first time as
an option on several high-volume
intermediates.
Unlike small and intermediate cars,
full-sized car sales are well below preenergy crisis levels. Their market share
has fallen to less than one-fourth, but
introduction of new and redesigned
models in 1979 is expected to stimulate
sales. Several regular and luxury 1979
models are downsized, thus improving
the gasoline mileage rating of some of
the least fuel-efficient cars. An increasing percentage of full-sized cars
have small eight-cylinder engines, and
H H H H H H M H H H H H H CHART 7

Market Share of New Car Sales
by Domestic Size Category and Imports
Percent
100

40 -

20

1971

72

73
74
75
76
Seasonally Adjusted

77

Data: Sales by model from Motor Vehicle Manufacturers Association of the
United States, Inc. and Ward's Automotive Reports; seasonal adjustment by
BEA.
U.S. Department of Commerce, Bureau of Economic Analysis




78-10-7

October 1978

the diesel engine option is extended to
several additional models in 1979.

10,000-pound trucks have been especially strong. Some of the sales increase
Recent developments,—Retail sales of in this weight category probably reflects
new passenger cars declined to 11.2 a shift from the 0- to 6,000-pound
million (seasonally adjusted annual category, which is subject to Federal
rate) in the third quarter of 1978 from emission standards. In the 1979 model
12 million in the second quarter (chart
year, the maximum weight to which the
5). The second-quarter total, the
highest in 5 years, was raised by the standards apply is raised to 8,500
makeup from the severe weather in pounds, and the shift to the 6,000- to
January and February. Domestic sales 10,000-pound trucks may slow as a
totaled 9.3 million in the third quarter, result.
down from 10 million in the second but
Price increases on the 1979 light
still quite strong. Domestic small car trucks are considerably higher than
sales were at a record pace in the second those on cars, averaging between 7 and
quarter before declining in the third 8 percent. Light truck prices were raised
(chart 6). The small-car share of the
several times during the 1978 model
market widened to over 30 percent
(chart 7). Intermediate car sales were year, bringing the total increase over
strong in both the second and third last September to over 9 percent. In
quarters, and by the third quarter the past 2 model years, light truck price
they attained a 29-percent share. Full(Continued on page 53)
sized car sales dropped sharply in the
CHART 8
third quarter and captured only 22
percent of the market. Import sales in
Retail Sales of New Trucks
third quarter were 2 million, about the
Million
units (ratio scale)
same level as in the previous four
quarters. The import share was over
17 percent in both quarters, considerably less than the 18-20 percent share
in the previous four quarters.
New truck sales
Retail sales of new trucks have almost
doubled since the 1975 recession low
and are about one-fourth above the
1973 peak. Sales fell to 3.8 million
(seasonally adjusted annual rate) in the
third quarter of 1978 from the record
4.1 million in the second quarter (chart
8).
Most of the huge post-recession increase in new truck sales has been in
light trucks (up to 14,000 pounds gross
vehicle weight), which account, in unit
terms, for about 90 percent of total
truck sales. Light truck sales reached a
record 3.7 million in the second quarter
of 1978 before dropping to 3.4 million
in the third quarter. Increasingly, light
trucks—mostly pickups and vans—are
purchased for personal use and are
offered with an array of styling and
comfort options—for example, exterior
trim packages, custom interiors, automatic transmission, air conditioning,
and AM-FM stereo radios. Within the
light truck category, sales of 6,000- to

I I I I I I I I I I I I ! I I I I I I I I I I I I II I I I I
Seasonally Adjusted at Annual Rates
Note.—Retail sales of new trucks, including imports of U.S. manufacturers, are
classified by gross vehicle weight (GVW) as follows: Light-up to 14,000
pounds; medium-14,001 to 26,000 pounds; heavy-over 26,000 pounds. GVW
is the manufacturers' rating that includes cargo weight, the weight of the truck
chassis, and the weight of the body mounted on the chassis.
Data: Motor Vehicle Manufacturers Association of the United States, Inc.;
seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis

7810 8

SURVEY OF CURRENT BUSINESS

October 1978

11

NATIONAL INCOME AND PRODUCT TABLES
1977
1976

1977

II

1977

1978
III

IV

I

II

III v

1976

1977

II

III

Seasonally adjusted at annual rates

1978
I

IV

II

III v

Seasonally adjusted at annual rates
Billions of 1972 dollars

Billions of current dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product

1,700.1

Personal consumption expenditures..
Durable goods
Nondurable goods
Services
Gross private domestic investment-..

887.2 1,867.0

,090.2 1,206.5 1,188.6

916.8 1,958.1 1,992.0

087.5 2,141.1

156.6
442.6
491.0

178.4
479.0
549.2

175.6
473.6
539.4

177.4
479.7
557.5

187.2
496.9
571.1

243.0

297.8

295.6

309.7

313.5

322.7

,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 11,394.3
857.7

849.5

858.0

876.6

873.5

886.3

893.7

199.3
529.4
625.8

125.9
320.2
373.2

137.8
330.4
389.5

136.2
327.2
386.0

136.9
329.2
391.8

143.0
338.1
395.6

137.8
333.3
402.4

145.8
336.3
404.2

144.6
339.2
409.8

345.4

351.7

173.4

196.3

197.1

201.7

200.3

205.7

213.1

210.8

,214.5 1,255.2 1,276.7 1,322.9 1,354.5
183.5
501.4
591.8

197.8
519.3
605.8

819.4

232.8

282.3

278.6

287.8

300.5

306.0

325.3

334.1

166.8

187.4

187.1

189.5

192.8

193.4

200.4

200.1

Fixed investment
Nonresidential___
Structures.
_,
Producers' durable equipment..

164.6
57.3
107.3

190.4
63.9
126.5

187.2
63.4
123.8

193.5
65.4
128.1

200.3
67.4
132.8

205.6
68.5
137.1

220.1
76.6
143.5

225.4
79.5
145.9

118.9
38.3

129.8
40.0
89.8

129.1
40.0
89.0

130.8
40.8
90.0

132.5
41.0
91.5

133.8
41.0
92.9

140.5
44.6
95.9

140.4
45.0
95.4

Residential
Nonfarm structures
Farm structures
Producers' durable equipment..

68.2
65.8
1.1
1.3

91.9
88.9
1.5
1.5

91.4
88.4
1.6
1.4

94.3

91.2
1.6
1.5

100.2
97.5
1.2
1.6

100.3
97.3
1.3
1.7

105.3
102.1
1.4
1.8

108.8
105.5
1.5
1.7

47.8
46.0
.7
1.1

57.7
55.6
.9
1.2

58.0
55.9
1.0
1.1

58.8
56.6
1.0
1.2

58.4
.7
1.2

59.5
57.4
.8
1.3

59.
57.8
.8
1.4

59.7
57.6
.8
1.3

10.2
12.2
-2.0

15.6
15.0
.6

17.0
16.5
.5

21.9
22.0
-.1

13.1
10.4
2.7

16.7
16.9
-.2

20.1
22.1
-2.0

17.6
18.6
-1.0

6.7
8.5
-1.9

8.9
9.4
-.5-

10.0
10.2
-.2

12.2
13.5
-1.4

7.5
6.5

12.3
12.5
-.1

12.7
13.9
-1.2

10.7
11.3
-.6

7.4

-11.1

-5.9

-7.0

-23.2

-24.1

-5.5

-6.5

15.4

9.5

11.0

12.5

3.1

2.9

11.3

12.0

210.9
217.3

95.9
80.5

98.2
88.7

98.9
87.9

100.8

96.0
92.9

99.1
96.2

108.4
97.1

109.5
97.5

274.5

272.1

271.9

277.8

103.6

101.2

97.1

101.9

170.9

170.8

174.8

175.9

Change in business inventories.
Nonfarm
Farm
Net exports of goods and servicesExports
Imports.
Government purchases of goods and services..
Federal
_.
National defense..
Nondefense
State and local

163.2
155.7

175.5
186.6

359.5

394.0

129.9
86.8
43.1
229.6

145.1
94.3
50.8
248.9

178.1
184.0

142.9
93.7
49.3
245.9

180.8
187.8

172.1
195.2

181.7
205.8

205.4
210.9

399.5

412.5

416.7

424.7

441.3

262.8

269.2

267.9

146.8
94.4
52.4
252.7

152.2
97.1
55.1
260.3

151.5
97.9
53.6
265.2

147.2
98.6
48.6
277.6

156.1
100.2
55.9
285.2

96.6

101.6

101.3

166.2

167.6

166.6

88.2
271.7
102.9
168.8

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
, 700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.1 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3

Gross national product.
Final sales
Change in business inventories.
Goods.
Final sales
_
Change in business inventories.
Durable goods.
Final sales..
Change in business inventories.
Nondurable goods
F inal sales
Change in business inventories.
Services
Structures.

L, 383.5
, 689.9 1,871.6 1,850.0 1,894.9 1,945.0 1,975.3 2,067.4 2,123.4 1, 264.4 1,323.8 1,315.5 1,331.7 1,347.1 1,341.8 1,369.9 1,:
10.7
12.2
12.3
10.0
7.5
10.2
8.9
12.7
17.0
20.1
6.7
13.1
17.6
15.6
21.9
16.7
760.3

832.6

825.8

844.7

859.6

861.8

912.2

930.7

576.5

608.4

604.4

613.3

620.1

611.8

627.7

632.1

750.1
10.2

817.0
15.6

808.8
17.0

822.8
21.9

846.5
13.1

845.1
16.7

892.1
20.1

913.0
17.6

569.8
6.7

599.6
8.9

594.3
10.0

601.1
12.2

612.7
7.5

599.4
12.3

615.0
12.7

621.4
10.7

304.6
299.3
5.3

341.3
332.9
8.4

339.1
330.0
9.1

346.5
334.6
11.9

347.4
341.1
6.3

351.2
336.3
14.8

375.8
365.0
10.8

381.4
370.1
11.2

236.2
232.5
3.6

253.7
248.0
5.8

253.0
246.9
6.1

255.9
248.0
7.9

255.1
250.5
4.6

254.6
245.0
9.6

266.6
260.2
6.4

265.9
259.2
6.6

455.7
450.7
4.9

491.3
484.1
7.2

486.7
478.8
7.9

498.2
488.2
10.0

512.2
505.4
6.8

510.6
508.7
1.9

536.4
527.1
9.3

549.3
542.9
6.4

340.3
337.3
3.0

354.7
351.6
3.1

351.3
347.5
3.9

357.4
353.1
4.3

365.0
362.1
2.9

357.2
354.5
2.7

361.2
354.8
6.3

366.3
362.2
4.1

778.0
161.9

862.8
191.8

850.0
191.3

875.3
196.8

893.6
204.9

926.4
203.8

952.0
223.4

977.6
232.8

583.0
111.6

602.9
121.3

598.8
122.3

606.9
123.7

609.6
124.8

620.1
122.3

625.6
129.3

631.5
130.6

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product-.
Gross domestic product
Business...
Nonfarm
Nonfarm less housingHousing
Farm
Statistical1 discrepancy..
Residual
Households and institutions..
Government
Federal..State and localRest of the world.

1,700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.1 1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3
1,685.7 1,869.9 1,849.0 1,898.7 1,942.2 1,973.8 2,066.5 2,119.9 1,264.3 1,325.3 1,317.7 1,336.3 1,347.9 1,346.6 1,373.9 1,385.7
1,436.7 1,599.3 1,582.5 1,626.4 1,660.4 1,684.1 1.771.8 1,820.4 1,077.9 1,135.9 1,129.6 1,146.1 1,155.9 1,153.5 1,180.0 1,, 191.4
1,040.1 1,094.2 1,088.9 1,102.6 1,112.4 1,115.4 1,145.2 1, 154.8
1,385.6 1,544.0 1,528.0 1,571.6 1,601.6 1,628.9 1.714.9
998.1 1,026.5'1,034.8
996.4
932.6
976.1
980.5
988.0
1,255.0 1,397.8 1,384.0 1,423. 2 1,449.0 1,471. 7 1,553.2
118.6 120.1
166.4
117.4
116.0
157.1
107.5
112.8
113.6
114.6
152.7
148.4
161.7
130.6
144.1
146.2
32.2
30.5
32.5
57.0
36.1
53.0
32.2
34.1
34.4
34.5
54.0
47.7
56.4
46.9
50.8
50.5
2.2
4.8
7.1
.5
4.2
3.7
4.7
2
4.3
9.0
5.5
4.3
6.6
5.6
7.3
7.4
56.5

62.7

61.3

63.5

65.9

68.8

70.5

71.9

40.7

42.2

192.5
62.4
130.1

208.0
66.4
141.5

205.2
65.4
139.8

208.9
65.7
143.2

215.9
69.5
146.4

221.0
69.9
151.1

224.1
70.1
154.1

227.5
70.5
157.0

145.6
48.5
97.1

147.2
48.7
98.4

14.4

17.3

18.0

18.1

15.9

18.2

21.1

21.2

6.8

7.3

41.7
146.3
48.7
97.6
7.8

42.5

43.6

43.8

44.3

44.6

147.7
48.8
99.0

148.4
48.8
99.6

149.4
48.8
100.6

149.6
48.8
100.8

149.8
49.0
100.8

7.6

6.6

7.5

8.8

8.6

Preliminary.

HISTORICAL STATISTICS
The national income and product data for 1929-72 are in The National Income and
Products Accounts of the United States, 1929-7$: Statistical Tables (available for $4.95, SN
003-010-OOG52-9, from Commerce Department District Offices or the Superintendent of




Documents; see addresses inside front cover). Data for 1973,1974, and 1975-77 are in July
1976, July 1977, and Juiy 1978 issues of the SURVEY, respectively.

SURVEY OF CURRENT BUSINESS

12
1977
1976

1977

II

III

October 1978

1977

1978

IV

I

II

III v

1976

1977

Table 4.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income (1.9)
1,700.1 1,887.2 1,867.0 1,916.8 1,958.1 1,992.0 2,087.5 2,141.1
Gross national product
Less: Capital consumption
allowances
with
capital consumption adjustment
202.6 207.3 213.3 220.8
177.8 195.2 192.4
Capital consumption
allowances without
capital consumption
141.3 153.6 151.9 155.9 157.8 161.0 163.9 166.9
adjustment
Less: Capital consumption adjustment
... -36.5 -41.6 -40.4 -42.6 -44.7 --46.3
4 6 . 3 -49.4 - 5 3 . 8

Equals: Net national product.. 1,522.3 1,692.0 1 674. 6 1, 718.3 1,755.5 1,784.7 1,874.2 1,920. 3
Less: Indirect business tax
and nontax liability. _. 151.3 165.1 163.3 166.5 170.1 173.3 179.4 176.8
Business transfer pay10.2
10.5
ments
8.3
9.4
9.9
9.6
10.9
10.0
2.2
.5
4.2
3.7
Statistical discrepancy..
7.1
4.7
4.8
2.7

1.1

6.3

4.1

4.3

Equals: Personal income

185.6

199.2

194.6

202.0

205.9

208.9

210.1

219.3
160.9
107.0

141.2
95.4

139.1
93.7

143.6
97.3

146.0
99.0

151.4
101.7

156.3
104.6

43.0

42.5

43.3

44.5

4o. 7

48.4

49.9

22.8

25.8

25.3

26.3

27.3

28.5

29.7

30.7

25.1
37.9

28.6
43.7

28.2
42.7

29.3
44.1

29.8
46.3

31.5
47.0

33.0
48.1

34.7
50.1

8.3

9.6

9.4

9.9

10.0

10.2

10.5

10.9

126.3
84.3

180.9 1 529. C 1,508.6 1, 543.7 1,593.0 1,628.9 1,682.4 1,727. 2

[Billions of 1972 dollars]
1,271.0 1,332.7 1,325.5 1,343.9 1,354.5 1,354.2 1,382.6 1,394.3

Less: Capital consumption allowances with capital
consumption adjustment

125.9 128.9 128.4 129.3
130.2 130.9 131.6 132.3
Equals: Net national product.__ 1,145.1 1,203.8 1,197.0 1,214.6 1, 224. 4 1,223. 3 1 ,,251.1 1,262.0

Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprise
Kesiduali
Equals: National income

*> Preliminary.




Net national product
Net domestic product

1 III*

125.3

131.4

130.2

131.7

134.0

135.0

137.4

5.6

7.3

6.6

9.0

7.4

5.5

4.3

1,014.2 1,065.1 1,060.2 1,073.9 1,083.0 1,082.8 1,109.4

1,522.3 1,,692.0 1, ,674.6 1,718.3 1,755.

784.

874.

, 920.3

1,507.9 1,,674.7 1, ,656.7 1,700.2 1,739.

766.

853.

, 899.1

1.2 1, 427. 9 1 ,, 457.8 1,476.8 1, 558.51,599.7
Business
1,258.9 1,404.1
Nonfarm
1,221.00 i ,363. 2 1L, 349. 9 1, 387. 6 1,413.1.9 1, 436.7 1 517.0 .
Farm
36.1
33.2
39.1
41.0
33.7
36.6
37.9
41.3
5 .
7.1
4.8
2.2
Statistical discrepancy
4.2
4.7
3.7
70.5
Households and institutions.
62.7
61.3
65.9
68.8
56.5
63.5
71.9
Government.
221.0 224.1 227.5
192.5 208.0 205.2 208.9 215.
Rest of the world
National income.. _
Domestic income

14.4

17.3

18.0

18.1

18.2

15.9

21.1

537.6 1,576.9 1 603.

,688.1

1,344.8 1,498.0 1,481.3 1,519.5 1,560. 9 1 584.

,667.1

1,359.2 1,515.3 1,499.3

Business.. _
1,095.8 1,227.4 1,214.81,247.2 1, 279.1 1,295. 2 1, 372.4
Nonfarm
1,064." , 192.6 1., 180.5 1, 216.0 1, 238.7 11,257. 7 1 332.4
34.8
37.4
40.0
34.3
40.5
Farm
31.1
31.6
62.7
61.3
68.8
70.5
65.9
Households and institutions63.5
56.5
Government
192.5 208.0 205.2 208.9 215.9 221.0 224.1
14.4

17.3

18.0

18.1

15.!

18.2

21.1

21.2

39.8
71.9
227.5
21.2

Billions of 1972 dollars
Net national product
Net domestic product

Business..
Nonfarm
Farm
Residual 1
Households and institutions .
Government
Rest of the world
National income..
Domestic income

Table 5.—Relation of Gross National Product, Net National
Product, and National Income in Constant Dollars (1.10)

Gross national product

II

1.5

1,359.2 1,515.3 1,499. 3 1. 537.6 1,576.9 1,603.11,
688.1
Equals: National income
1,603.
Less: Corporate profits with
inventory valuation
and capital consumption adjustments
127.0 144.2 143.7 154.8 148.2 132. fi 163.4
84.3
95.4
93.7
97.3
99.0 101.7 104.6 107.0
Net interest
Contributions for social
insurance
125.1 140.3 139.1 141.3 145.0 157.4 162.7 166.0
Wage accruals less dis0
bursements
.2
0
0
0
0
0
0
Plus: Government transfer
payments to persons...
Personal interest income
Net interest
Interest paid by government to persons
and business
Less: Interest received
by government
Interest paid by consumers to business...
Dividends
Business transfer payments

I

Table 6.—Net National Product and National Income by Sector in
Current and Constant Dollars (1.11, 1.12)

Rest of the world.
2.8

IV

BDlions of dollars

Billions of dollars

.7

III

Seasonally adjusted at annual rates

Seasonally adjusted at annual rates

Plus: Subsidies less current
surplus of government
enterprises

II

1978

138.9

Business
Nonfarm
Farm...
Households and institutions.
Government
Rest of the world.

1,145.1 1,203.8 1,197.0 1,214.6 1,224.4 1,223.3 1,251.1 1,262.0
1,138.3 1,196.4 1,189.3 1,207.0 1,217.7 1,215.8 1,242.3 1,253. 4
952.0 1, 007. 0 1L, 0 0 1 . 2 1,016. 8 1,025. 7 1,022.6 1, 048.5 1, 1.1
923.4 974.5 969.7 982.5 991.5 993.
022.8
26.9
23.0
25.0
25.3
25.2
23.3
21.3
22.9
7.4
6.6
9.0
5.6
7.3
5.5
4.3
43.6
41.7
42.5
42.2
43.8
40.7
44.3
44.6
145.6 147.2 146.3 147.7 148.4 149.4 149.6 149.8
6.8

7.3

7.8

7.6

6.6

7.5

8.8

8.6

1,014.2 1,,065.11,,060.2 1,,073.9 1, 083.0 1,082.8 1 109.4
1,007.4 1,057.7 1,052.4 1,,066.3 1, 076.4 1,075.3 1,100.6
821.1
796.3
24.8
40.7
145.6

868.3
841.4
26.9
42.2
147.2

864.4
837.8
26.6
41.7
146.3

876.1
849.1
27.0
42.5
147.7

884.3
855.7
28.7
43.6
148.4

882.1
857.3
24.8
43.8
149.4

906.8
884.1
22.7
44.3
149.6

24.2
44.6
149.8

6.8

7.3

7.8

7.6

6.6

7.5

8.8

8.6

1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry. The quarterly estimates
are obtained by interpolating the annual estimates with the statistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
NOTE.—Table 6: The industry classification within the business sector is on an establishment basis and is based on the 1972 Standard Industrial Classification.
Footnotes for tables 2 and 3.

1. Equals GNP in constant dollars measured as the sum of final products less GNP in
constant dollars measured as the sum of gross product by industry. The quarterly estimates
are obtained by interpolating the annual estimates with the statistical discrepancy deflated
by the implicit price deflator for gross domestic business product.
2. Held constant at level of previous quarter.
NOTE.—Table 2: "Final sales" is classified as durable or nondurable by type of product.
"Change in business inventories" is classified as follows: For manufacturing, by the type of
product produced by the establishment holding the inventory; for trade, by the type of
product sold by the establishment holding the inventory; for construction, durable; and for
other industries, nondurable.
Table 8: The industry classification within the business sector is on an establishment basis
and is based on the 1972 Standard Industrial Classification.

SURVEY OF CURRENT BUSINESS

October 1978

1977
1976 I 1977

II

III

13

1978

IV

II

I

1977

III*

1977

1976

Seasonally adjusted at annual rates

359.2

Wages and salaries
Government and government enterprises
Other
Supplements to wages and
salaries
Employer contributions
for social insurance
Other labor income

515.3

499.3

537.6

576.9

603.1

688.1

140.5

165.8 1,199.7

241.0

287.8 ,314.7

890.1

983.6

973.4

993.6 ., 021.2

050.8

090.2 , 111. 2

187.6
702.5

200.8
782.9

198.1
775.3

201.7
791.9

208.1
813.1

211.4
839.3

213.9
876.3

216.9
894.3

146.7

169.8

167.1

172.2

178.4

190.2

197.6

203.5

69.7
77.0

79.4
90.4

78.6
88.5

79.9
92.2

82.4
96.1

90.2
100.0

93.6
104.0

95.6
107.9

99.8

98.9

97.2

107.3

105.0

110.1

113.2

20.2

20.0

16.5

25.1

21.9

24.0

23.5

Farm
Proprietors income with
inventory valuation adjustment and without
capital consumption adjustment
Capital consumption adjustment..
Nonfarm.
_
Proprietors' income without inventory valuation
and capital consumption adjustments
Inventory valuation adjustment
__
Capital consumption adjustment

22.4

24.6

24.2

21.0

29.8

26.6

28.8

28.3

-4.0
70.2

-4.4
79.5

-4.2
78.9

-4.5
80.8

-4.7
82.3

-4.7

-4.8
86.1

-4.8
89.7

71.4

81.4

80.6

82.2

84.8

86.7

90.1

93.6

-1.3

-1.4

-.7

-1.

-2.1

-2.2

-1.8

-.6

o

-.7

-1.2

-1.5

-1.8

-2.1

Rental income of persons with
capital consumption adjustment
R e n t a l income
Capital consumption adjustment

22.5
38.

22.5
42.1

22.4
41.5

22.4
42.6

22.7
44.0

22.8
44.6

22.2
45.5

49.6

-16.2

-19.6

-19.0

Corporate profits with inventory valuation and capital
consumption adjustments

127.0

144.2

Corporate profits w i t h inventory valuation adjustment and without
capital consumption adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
.

Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment
Net interest
Addenda:
Corporate profits w i t h inventory valuation and capital
consumption adjustments
Profits t a x liability
Profits after tax w i t h invent o r y valuation a n d capital
consumption adjustments
Dividends
Undistributed
profits
w i t h inventory valuation a n d capital cons u m p t i o n adjustments

143.

-20.:

154.8

24.4

118.

132.6




Capital consumption allowances w i t h
capital consumption adjustment

Net domestic product
Indirect business tax and nontax
liability plus business transfer payments less subsidies
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages and salaries
Corporate profits with inventory
valuation and capital consumption adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits
Inventory valuation adjustment
Capital consumption adjustment.
Net interest

Capital consumption allowances with
capital consumption adjustment
141.4
155.
64.3
91.
37.
53.8

159.1
173.9
71.8
102.1
43.
58.4

158.5
175.1
72.3
102.8
42.

169.9
177.5
72.8
104.8
44.1

60.

60.6

-14.1

-14.

-16.6

-7.7

-14.4

-14.9

-14.8

-15. C

84.

127. C

95.4

144.

93.

143.

97.3

154.8

163.5
178.3
73.9
104.4

148.
172.1
70.0
102.1

46.3

47.0

58.1

55.1

-14.8 - 2 3 . 5
-15.3 - 1 6 . 1
99.0
148.2

101.
132.6

180.6
205.5
85.0
120.5
48.1

50.1

-19.3

104.6

107.0

73.

70. C

85. C

62.
37.

72.3
43.

71.
42.

82.
44.

74.3
46.3

62.
47.

78.4
48.

24.

28.

28.

28.

15.

30.

124.6

127.4

Net domestic product
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income

130.5

Current-dollar cost and profit per
unit of constant-dollar
domestic product 2

Capital consumption allowances with
capital consumption adjustment—
Net domestic product
Indirect business tax and nontax liability plus business transfer payments less subsidies

163.4

72.8

122.6

123.2
162.7
70.0
92.7
42.3
50.
-23. 5
-16.1
11.2

58.7

59.8

61.8

55.5

151.7
193.8
85.0
108.8
42.3

43.9

- 2 4 . 9 -20.9
- 1 7 . 2 -19.3
11.5 11.8
64.9

988.5 1,103.2 1,093.3 1,124.6 1,146.3 1,161.6 1233.0

106.7 115.6 114.6 117.2 119.0 121.6 124.6 128.6
978.7 1,007.4 1,027.3 1,040.0 1108.5

881.8
99.5
782.2
650.2
550.7

107.8
879.8
732.1
616.1

106.8
871.9
725.3
610.6

108.7
898.7
741.6
623.5

110.9
916.4
762.2
640.3

113.5
926.5
789.9
659.8

118.0 117.8
990.5
826.0 843.5
690.4 703.9

9.5 116.1 114.7 118.1 121.9 130.1 135.6 139.6
101.3
130.
53.0
77.2
33.5
43.
-14.5
-14.3
30.

113.9 113.5
143.5 144.7
59.0 59.9
84.5 84.8
39.1 37.9
45. S 46.9
-14.8 -16.6
-14. -14.
33.

122.8
145.3
59.4
85.9
39.5
46.4
-7.7
-14.8
34.4

118.7
148.5
60.4
88.0
42.5
45.6
-14.8
-15.0
35.4

100.9 127.8
140.0 169.5
55.9 70.1
84.2 99.4
43.0 42.9 44.6
41.2 56.5
-23.5 -24. -2O.~9
- 1 5 . 7 -16.8 - 1 8 . 9
35.7 36.6 37.5

730.0 769.3 766.9 776.7 783.6 783.6 811.9
75.1

76.5

76.3

76.7

77.1

77.5

77.8

78.1

654.8 692.8 690.6 700.0 706.5 706.2 734.1
82.7 86.0 85.2 86.0 87.5 87.8 89.3
572.1 606.9 605.4 614.0 619.1 618.4 644.8

90.1

Dollars

-17.2

72.

119.8

57.0

140.3
170.4
73.9
96.5
42.0
54.5
-14.8
-15.3
11.5

72.

71.8

120.9

50.4

144.5
167.2
72.8
94.4
39.2
55.3
-7.7
-15.0
11.0

- 2 4 . S -20.9

64.

111.5

III

Billions of 1972 dollars
Gross domestic product of nonfinancial corporate business __

163.4

Domestic income
50.1

Gross domestic product
of corporate b u s i n e s s . . 1,038.8 1,160.2 1,148.8 1,183.3 1,206.1 1,223.4 1,298.0

Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
Domestic income
Compensation of employees
Wages and salaries
Supplements to wages
and salaries

Gross domestic product of financial corporate business L__

134.6 133.3
164.3 164.7
71.8 72.3
92.5 92.3
39.0 38.0
53.5 54.3
-14.8 -16.8
-14. < -14.8
10.6 10.3

-21.3 - 2 1 . 8 - 2 3 . 3 -25.2

Table 8.—Gross Domestic Product of Corporate Business (1.15, 7.8)

Capital consumption allowances with capital consumption adjustment

Corporate profits with inventory
valuation and capital consumption adjustments
118.8
Profits before tax
147.7
64.3
Profits tax liability
83.4
Profits after tax
33.9
Dividends
49.6
Undistributed profits
Inventory valuation adjustment - 1 4 . 5
Capital consumption adjustment. 14.4
10.2
Net interest

Gross domestic product of nonfinancial corporate b u s i n e s s . . .
18.4

II

Table 8.—Gross Domestic Product of Corporate Business^Con.

,153.4

Proprietors' income with inventory valuation and capital consumption adjustments

I

IV

Billions of dollars

Table 7.—National Income by Type of Income (1.13)
National income..

III

Seasonally adjusted at annual rates

Billions of dollars

Compensation of employees

II

1978

Compensation of employees.. _
Corporate profits with inventory
valuation and capital consumption adjustments
Profits tax liability
Profits after tax with inventory
and
capital
consumption
adjustments
Net interest

p Preliminary.

134.7

927. 3 1,,039. 3 1 ,029. 0 1., 060.7 1,081. 4 1,096.1 1,167.5

108.1
819.2

117.8
921.5

116.6
912.4

118.9
941.8

121.5
960.0

124.3 129.1
971.8 1,038.3

129.1

690.2
583.9

776.3
652.5

768.8
646.6

786.3
660.4

808.1
678.1

837.4
698.7

875.1
730.6

894.4
745.5

106.3

123.8

122.2

125.9

130.0

138.7

144.5

148.9

1.354

1.434 1.426 1.448
.150

.149

.151

1.208 1.284

1.276

1.297

.140

.139

.140

.146

.136

1.072 1.144 1.137 1.157
.891 .952 .946 .955

1.463 1.482 1.519
.155

.153

1.311 1.327

1.365

.152

.142

.145

.145

1.182 1.220
.973 1.008 1.017

.139
.073

.148
.077

.148
.078

.158
.076

.151
.077

.129
.071

.157

.066
.042

.071
.044

.070
.043

.082
.044

.074
.045

.057
.046

.071
.045

1. Consists of the following industries: Banking; credit agencies other than banks; security,
commodity brokers and services; insurance carriers; regulated investment companies; small
business investment companies; and real estate investment trusts.
2. Equals the deflator for gross domestic product of nonfinancial corporate business with the
decimal point shifted two places to the left.

SURVEY OF CUREENT BUSINESS

14

1978

1977
1976

1977

II

III

October 1978

II

IV

1977
1976

III

1977

Seasonally adjusted at annual rates

New..
Used.
Addenda:
Domestic 1 output of new
autos
Sales of imported new autos 2

Auto output..

New..
Used.
Addenda:
Domestic
output of new
autos 1
Sales of imported new autos 2._

Table 10.—Personal Income and Its Disposition (2.1)

72.1

70.0

74.5

73.8

79.5

77.4

70.9

71.9

68.1

72.0

71.3

80.8

78.2

Wage and salary disbursements.

890.1

983.6

973.4

993.6 1,021.2 ,050.8

090.2 1,110.9

61.8
46.3
15.5

61.9
47.2
14.7

60.4
45.0
15.4

63.2
47.3
15.9

63.1
47.3
15.8

70.5
54.1
16.5

68.3
50.8
17.5

12.2
19.0
-6.8
-3.6
7.0
10.7

12.2
19.2
-7.0
-2.8
7.3
10.0

11.7
18.5
-6.8
-4.6
6.8
11.4

13.0
19.7
-6.7
-4.8
6.9
11.8

13.4 15.0
20.3 22.7
-6.9 -7.8
-5.8 -5.2
7.9
6.9
12.7 13.1

14.7
22.4
-7.7
-5.3
8.2
13.6

Commodity-producing
industries 3___
Manufacturing
4
Distributive industries
Service industries5
Government and government enterprises

307.5
237.5
216.4
178.6

343.7
266.3
239.1
200.1

342.0
264.1
236.5
196.8

348.3
269.3
241.2
202.3

357.1
277.3
247.5
208.5

365.9
286.9
257.0
216.5

387.0
296.1
266.4
222.8

395.9
301.9
270.4
228.0

187.6

200.8

198.1

201.7

208.1

211.4

213.9

216.7

77.0

90.4

88.5

92.2

96.1

100.0

104.0

107.9

99.8

98.9

97.2

107.3

105.0

110.1

113.2

20.2
79.5

20.0
78.9

16.5
80.8

25.1
82.3

21.9
83.1

24.0
86.1

23.5
89.7

24.4

Personal income

Other labor income

380.9 1,529.0 1,508.6 1,543.7 1,593.0 ,628.9 , 682.4 1,727.2

Proprietors' income with inventory valuation and capital
consumption adjustments....

.6

.6

.6

.6

.6

.5

.5

1.0

1.4

.1

1.9

2.5

2.5

-1.3

-.8

1.0
0

1.6
-.2

-.7
.8

2.6
-.6

3.4
-.9

2.7 - 2 . 2
-.2
.9

Farm
Nonfarm.
Rental income of persons with
capital consumption adjustment

18.4
70.2

22.5

22.5

22.4

22.4

22.7

22.8

22.2

50.2
11.5

59.4
15.3

59.1
16.7

58.4
14.8

60.2
15.5

60.5
15.7

63.9
16.9

Dividends

37.9

43.7

42.7

44.1

46.3

47.0

48.1

50.1

Personal interest income

126.3

141.2

139.1

143.6

146.0

151.4

156.3

160.9

Transfer payments

193.9

208.8

204.0

211.9

215.9

219.2

220.6

230.2

92.9

105.0

101.8

108.5

110.1

112.1

113.

120.9

15.5
14.4

12.5
13.8

12.0
13.8

11.4
13.4

11.5
13.

10.4
13.8

8.5
13.5

25.7

28.8

28.4

29.:

30.5

31.3

32.5

10.1
35.

10.6
38.1

10.5
37.4

10.6
38.7

10.7
39.4

10.7
40.9

10.8
41.6

10.9
43.2

Less: Personal contributions
for social insurance. _.

55.5

61.0

60.5

61.4

62.6

67.2

69.

70.4

Less: Personal tax and nontax
payments

196.5

226.0

223.3

224.6

233.3

237.3

249.1

262.5

65.3
17.0

49.2

55.2

55.6

53.7

55.4

54.1

57.0

54.4

48.5

54.0

55.2

52.1

53.8

52.4

58.3

55.0

44.4
36.0
8.5

44.8
37.1
7.8

43.6
34.9
8.7

44.7
35.8
9.0

10.6
14.8
-4.2
-1.5
5.4
6.9

11.0
15.0
-4.1
-1.1
5.7
6.7

10.1
14.3
-4.3
-2.0
5.2
7.2

10.6
14.9
-4.3
-2.0
5.2
7.2

.5

.5

.5

.4

.7

1.2

.4

1.6

1.6

.7
0

1.3
-.2

-.1
.5

2.0
-.4

2.2
-.6

41.1
9.4

46.1
11.9

46.3
13.1

45.2
11.5

45.5
11.8

43.4
35.0
8.4

47.8
39.3
8.4

10.8 11.8
15.1 16.5
-4.3 -4.7
-2.2 -1.7
5.8
5.2
7.5
7.3
.4

.4

45.0
36.2
8.8
11.4
16.0
-4.6
-1.7
5.9
7.6
.4

-1.3

-.6

1.8 - 1 . 8
i
.5

-.7
.1

1.6

44.9
11.6

47.5
12.3

45.5
12.1

p Preliminary.
1. Consists of final sales and change in business inventories of new autos produced in
the United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
3. Consists of agriculture, forestry, and fisheries; mining; construction; and manufacturing.
4. Consists of transportation; communication; electric, gas, and sanitary services; and
trade.
5. Consists of finance, insurance, and real estate; services; and rest of the world.
NOTE.—Table 10: The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and is based on the 1972 Standard Industrial
Classification.




III v

72.3

Personal consumption ex40.2
penditures..
32.1
New autos..
8.2
Net purchases of used autos.
Producers' durable equip8.8
ment
12.7
New autos
Net purchases of used autos. - 3 . 9
-1.0
Net exports
5.2
Exports
6.2
Imports
Government purchases of
.5
goods and services
Change in business inventories
of new and used autos

II

60.4

Billions of 1972 dollars

Final sales

I

61.4

Personal consumption expenditures
52.8
39.2
New autos..
Net purchases of used autos. 13.6
Producers' durable equipment
9.6
15.5
New autos__
Net purchases of used autos. - 5 . 9
-2.6
Net exports.
6.4
Exports
8.9
Imports
Government purchaser of
.5
goods and services
Change in business inventories
of new and used autos

IV

Billions of dollars

Table 9.—Auto Output in Current and Constant Dollars (1.16, 1.17)

Final sales

III

Seasonally adjusted at annual rates

Billions of dollars

Auto output-

II

1978

Old-age,
survivors, disability, and health insurance benefits
Government unemployment
insurance benefits
Veterans benefits
Government
employees
retirement benefits
Aid to families with dependent children
Other..

8.7
13.4

Equals: Disposable personal
income
1,184. 4 1,303.0 1,285. 3 1,319.1 1,359.6 1,391.6 1,433. 3 1,464.7
Less: Personal outlays

1,116.3 1,236.1 1,217.8 1,244.8 1,285.9 1,309.2 1,357.0 1,390.2

Personal consumption expenditures
1,090.2 1,206.5 1,188.6 1,,214.5 1,255.2 1,276.7 1,322.9 1,354. 5
Interest paid by consumers
34.7
to business
25.1
31.5
33.0
29.3
29.8
28.6
28. 2
Personal transfer payments
1.1
to foreigners (net)
1.1
.9
.9
1.0
.9
1.0
1.0
Equals: Personal saving
Addenda:
Disposable personal income:
Total, billions of 1972
dollars

68.0

66.9

67.5

74.3

73.7

82.4

76.3

74.4

890.1

926.3

918.6

931.9

949.6 952.1

960.3

966.4

Per capita:
Current dollars.
1972 dollars

5,504
4,136

6,009
4,271

5,934
4,241

6,077
4,293

6,250
4,365

6,387
4,370

6,566
4,399

6,696
4,418

Population (millions)

215.2

216.9

216.6

217.1

217.5

217.9

218.3

218.7

5.7

5.1

5.3

5.6

5.4

5.9

5.3

5.1

Personal saving as percentage of disposable personal
income

SUEVEY OF CURRENT BUSINESS

October 1978

1977
1977

1976

II

15

1978

III

IV

I

II

1977
IIIv

1976

1977

II

1978

III

Seasonally adjusted at annual rates

IV

I

lllv

II

Seasonally adjusted at annual rates

Billions of current dollars

Billions of 1972 dollars

Table 11.—Personal Consumption Expenditures by Major Type of Product in Current and Constant Dollars (2.3, 2.4)
1,090.2 1,206.5 1,188.6 1,214.5 1,255.2 1,276.7 1,322.9 1,354.5

Personal consumption expenditures..
Durable goods
Motor vehicles and parts
Furniture and household equipment..
Other
Nondurable goods.
Food
Clothing and shoes.
Gasoline and oil
Fuel oil and coal
Other
Services
Housing
Household operation.
Electricity and gas.
Other
Transportation
Other

819.4

857.7

849.5

858.0

876.6

873.5

886.3

893.7

156.6

178.4

175.6

177.4

187.2

183.5

197.8

199.3

125.9

137.8

136.2

136.9

143.0

137.8

145.8

144.6

69.7
63.9
23.0

81.5
71.3
25.6

81.2
69.9
24.6

79.5
72.0
25.8

84.0
75.3
27.9

84.1
72.1
27.3

92.5
76.5
28.8

90.0
78.6
30.7

54.3
52.9
18.7

60.0
57.6
20.2

60.2
56.6
19.5

58.6
58.0
20.3

60.9
60.3
21.8

59.5
57.4
21.0

64.2
59.8
21.8

61.0
60.7
23.0

442.6

479.0

473.6

479.7

496.9

501.4

519.3

529.4

320.2

330.4

327.2

329.2

338.1

333.3

336.3

339.2

225.8
75.7
42.8
12 2
86.2

245.2
81.5
46.5
13.5
92.4

244.5
79.3
46.2
12.9
90.5

246.4
81.4
46.0
13.1
92.8

252.6
86.7
47.5
13.9
96.2

257.7
82.9
48.3
15.8
96.7

267.8
87.5
49.1
15.2
99.7

272.0
90.2
50.8
14.1
102.4

158.8
64.2
26.0
5.8
65.4

165.1
66.6
26.6
5.6
66.4

164.7
65.1
26.4
5.4
65.6

164.9
66.2
26.5
5.4
66.3

167.6
70.2
26.9
5.7
67.8

165.6
66.8
27.1
6.4
67.3

164.7
69.5
27.5
6.0
68.5

164.9
71.6
28.0
5.5
69.1

491.0

549.2

539.4

557.5

571.1

591.8

605.8

625.8

373.2

389.5

386.0

391.8

395.6

402.4

404.2

409.8

166.4
72.8
33.0
39.8
37.9
214.0

184.6
81.6
38.0
43.6
44.2
238.8

182.1
78.0
35.0
42.9
43.5
235.8

186.9
83.7
39.5
44.1
45.0
241.9

192.0
84.6
39.3
45.3
47.3
247.3

198.1
89.6
43.3
46.3
49.7
254.4

204.1
88.9
41.5
47.4
52.1
260.6

209.6
92.9
43.9
49.0
55.0
268.3

134.7
52.7
21.4
31.2
29.4
156.3

140.3
55.4
22.4
33.0
30.8
162.9

139.6
53.7
21.0
32.7
30.7
161.9

141.2
56.1
22.9
33.2
31.0
163.6

142.4
56.3
22.5
33.8
31.9
164.9

144.2
58.7
24.6
34.1
33.0
166.5

145.8
57.0
22.5
34.5
34.0
167.4

147.2
58.2
23.3
34.9
35.3
169.2

1
1976

1978

1D77

1977

II

III

I

IV

II

III v

1976

1977

Seasonally adjusted at annual rates

331.4 374.5 371.4

174.3 385.5 396.2

424.8

Personal tax and nontax receipts
Income taxes
Estate and gift taxes
Nontaxes

.46.8 169.4 167.0
.41.1 162.1 161.4
7.2
5.6
5.5
.2
.1
.2

.67.6 .74.8 176.8
.61.7 .69.2 171.3
5.5
5.7
5.4
.2

186.7 199.1
181. 3 193. 8
5.2 5.1
.2
.2

C orporate profits tax accruals

54.8

61.3

61.8

62.0

62.9

59.6

72.6

Indirect business tax and nontax
accruals
Excise taxes
Customs duties'
Nontaxes

23.4
17.0
4.6
1.8

25.0
17.5
5.4
2.1

24.8
17.3
5.4
2.1

25.4
17.5
5.7
2.1

25.6
17.9
5.5
2.2

26.5
17.9
6.3
2.2

27.9 28.2

Contributions for social insurance

.06.4 118.7 117.7 119.3

22 2 133.3

385.2 422.6 411.7 430.7 444.1 448.8

Purchases cf gocds and services
National defense
Compensation of employees
Military
Civilian
Other

43.1
21.5
21.6

Transfer payments.
To persons
T o foreigners
Grants-in-aid to
governments

50.8
23.5
27.3

49.3
23.1
26.1

52.4
23.3
29.1

55.1
24.6
30.5

53.6
24.9
28.7

L61.6 172.7 168.2 175.7 178.3 180.2

L58.4 169.5 165.2 172.0 175.0 176.9
3.2
1.2 3.0
3.4
3.7
3.3
State

and

62.5 63.5
34.5 34.8
20.1 20.8
7.8 7.8

9.4

10.5

10.6

10.7

10.9

10.4

12.4

137.6 139.9

Indirect business tax and nontax
128.0 140.0 138.5 141.2
accruals
57.6 63.9 63.0 64.2
Sales taxes
57.9 62.3 61.8 62.9
Property taxes
12.3 13.7 13.5 13.9
Other

66.7
63.5
14.3

146.8
67.7
64.3
14.7

151.5
70.6
65.8
15.1

448.3 466.1

Contributions for social insurance

18.7

21.7

21.4

22.0

22.8

24.1

25.2 26.1

147.2 156.1
98. 6 100. 2
45.0 45.3
25.9 26.0
19.2 19.3
53.5 54.9

Federal grants-in-aid

61.1

67.4

65.4

70.9

71.1

73.9

75.9 77.7

246.3 266.6 263.5 270.7 278.9 284.2

297.7 305.5

229.6 248.9 245.9 252.7 260.3 265.2
130.1 141.5 139.8 143.2 146.4 151.1
99.5 107.4 106.1 109.6 113.9 114.1

277. 6 285. 2
154.1 157.0
123. 5 128. 2

18.4 18.7
7.2 7.1
2.3 2.3

48.6 55.9
25.0 25.2
23.6
180.7 188.9
177. 0 185. 2
3.7

3.7

73.9

75.9 77.7

Net interest paid
26.8
Interest paid
32.1
To persons and business
27.6
To foreigners
4.5
Less: Interest received by Government. 5.3

29.1
35.3
29.8
5.5
6.2

28.8
35.0
29.8
5.2
6.2

28.9
35.4
29.9
5.5
6.4

30.7
37.0
30.4
6.6
6.3

33.2
40.2
32.3
7.9
7.0

34.6 36.0
42.3 43.9
33.7 34.9
8.5 9.0
7.7 7.9

8.3
7.5

6.4
6.3

8.4
6.9

11.8
10.3

10.0

10.0
8.4

Less: Wage accruals less disbursements
Surplus or deficit (—), national
income and product accounts. -53.8 -48.1 -40.3 -56.4 -58.6 -52.6

327.4

16.1
6.8

71.1

-1.2

266.9 2%. 2 292.0 301.8 307.9 315.7
60.5
33.3
19.5
7.7

70.9




Receipts..

58.5
32.0
19.0
7.5

65.4

Social insurance funds..
Other funds

III v

57.0
31.3
18.5
7.3

67.4

-1.5

II

56.2
30.6
17.9
7.7

61.1

5.8
5.6

I

56.6
30.9
18.2
7.4

local

Subsidies less current surplus of
Government enterprises
Subsidies
Less: Current surplus of Government enterprises
:

rv

Table 13.—State and Local Government Receipts and
Expenditures (3.4)

Personal tax and nontax receipts...
Income taxes
Nontaxes
Other
Corporate profits tax accruals

.29.9 145.1 142.9 146.8 152.2 151.5
86.8 94.3 93.7 94.4 97.1 97.9
40.9 42.9 42.3 42.4 44.9 45.0
24.0 24.9 24.6 24.5 26.0 25.9
16.9 18.0 17.7 17.8 18.9 19.1
45.8 51.4 51.4 52.0 52.3 52.9

Nondefense
Compensation cf employees.
Other

in

Billions of dollars

Table 12.—Federal Government Receipts and Expenditures (3.2)

Expenditures

ii

Seasonally adjusted at annual rates

Billions of dollars

Receipts

1978

1977

-1.6

8.1

Expend i tures
Purchases of goods and services.
Compensation of employees
Other

49.7

32.0

33.1 34.1

-5.4 -6.5 -6.4 -6.5 -6.8 -7.1
Net interest paid
12.0 13.2 12.7 13.4 14.1 14.4
Interest paid
Less: Interest received by govern21.0 21.5
ment
17.5 19.6 19.1

-7.3 -7.9
14.7 15.0

Transfer payments to persons.

29.7

29.3

30.1

30.9

Subsidies less current surplus of gov-5.1 -5.6 - 5 . 3 - 5 . 7 - 5 . 5 - 6 . 0
ernment enterprises
.3
.3
.3
.2
Subsidies
.2
.2
Less: Current surplus of govern6.2
5.8
5.9
5.3
ment enterprises
5.8
5.6
0
0
0
Less: Wage accruals less disbursements_ 0
0
0
Surplus or deficit ( - ) , national
income and product accounts- 20.7 29.6 28.5 31.2 29.0 31.5
Social insurance funds..
Other funds

15.2
5.5

18.0
11.5

17.7
10.8

18.3
12.8

19.1
9.9

19.9
11.5

.6

0
-23.6

-11.6 -10.1 -7.9 -11.9 -11.5 - 1 . 7
1.9 - 3 . 7
-38.0 -32.4 -44.5 -47.1 -50.9 - 2 5 . 5

148.5
71.7
61.2
15.6

v Preliminary.
,
, ,
1. Includes fees for licenses to import petroleum and petroleum products.

22.0 22.9
-5.7 -6.0
.3
.3
6.0
0

6.3
0

29.8
20.5 21.3
9.3

SURVEY OF CUREENT BUSINESS

16
1977
1976

1977

II

III

October 1978

1977

1978

IV

II

1976

IIIv

1977

Seasonally adjusted at annual rates

II

III

Receipts from foreigners. 163.2

175.5

178.1

180.8

172.1

181.7 205.4

210.9

163.2
114.7
48.5

175.5
120.6
54.9

178.1
122.6
55.5

180.8
124.1
56.8

172.1
117.8
54.2

181.7 205.4
122.7 140.3
59.0 65.1

210.9
145.2
65 7

0

0

0

o

0

Payments to foreigners... 163.2

175.5

178.1

180.8

172.1

181.7 205.4

210.9

Imports of goods and services.. 155.7
Merchandise
124.0
31.7
Other

186.6
151.6
35.0

184,0
149.0
35.0

187.8
153.1
34.8

195.2
158.5
36.7

205.8 210.9
167.5 171.5
38.3 39.4

217.3
177.2
40.1

4.2
1.0
3.2

4.0
1.0
3.0

4.6
.9
3.7

4.3
.9
3.4

4.3
1.0
3.3

4.8
1.1
3.7

4.8
1.1
3.7

5.5

5.2

5.5

6.6

7.9

8.5

9.0

Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government
to foreigners
Net foreign investment

4.2
.9
3.2
4.5

-1.2

0

0

0

Gross saving..

237.5

272.2

276.8

285.5

274.7

284.2 326.1

Gross private saving.

270.7

290.8

288.6

310.7

304.3

305.4 319.9
82.4

76.3

15.6
55.1

30.3
72.4

Gross private domestic investment
Net foreign investment
Statistical discrepancy.

520.7

536.5

60.3

66.3

68.0

67.3

Nonfarm
Durable goods
Nondurable goods..

418.4
238.5
179.9

428.0
245.2
182.7

251.8
186.5

454.4
263.2
191.1

468.5
271.2
197.3

482.0
279.7
202.3

Manufacturing
Durable goods.
Nondurable good s..

211.9
135.3
76.6

215.5
138.1
77.4

219.2
140.9
78.3

225.9
146.5
79.4

232.0
150.7
81.2

156.2
83.6

Wholesale trade
Durable goods
Nondurable goods..

80.9
51.8
29.1

82.8
54.1
28.7

85.9
56.1
29.8

90.9
59.6
31.4

94.2
61.9
32.3

95.6
63.7
31.8

Retail trade
Durable goods
Nondurable goods..

84.8
38.5
46.4

87.5
39.8
47.7

89.9
41.1
48.8

94.3
42.9
51.3

97.5
43.9
53.6

100.6
44.7
55.9

40.7

42.3

43.3

43.3

44.8

46.0

Other.

280.4

292.6

279.5

4.7

3.7

7.1

4.8

549.3

1,565.5 1,604.5 1,647.3 1,667.3 1,751.7 1,802.8

Final sales 2

.304
.267

Inventories x

Nonfarm
Durable goods..
Nondurable goods

.301
.267

.303
.266

.312
.273

.306
.267

.267

302.7

-

305.7

307.6

310.7

313.9

316.5

40.7

40.3

40.6

40.5

40.2

40.1

262.0
152.2
109.8

265.4
154.2
111.2

267.0
155.4
111. ?

270.2
157.8
112.4

273.6
159.4
114.3

276.5
161.0
115.5

-16.1 - 1 7 . 2 - 1 9 . 3

Manufacturing
Durable goods
Nondurable goods..

128.3
83.6
44.8

129.1
84.0
45.1

128.8
83.9
44.9

129.9
84.9
45.0

131.5
86.1
45.4

133.1
87.3
45.8

127.4 130.5

134.7

Wholesale trade
Durable goods.
Nondurable goods..

51.9
34.4
17.5

52.7
35.3
17.4

53.7
36.0
17.7

55.7
37.1
18.6

56.6
37.8
18.8

56.6
38.3
18.3

82.8

86.1

Retail trade
Durable goods
Nondurable goods..

58.3
26.3
32.0

59.8
26.9
32.8

60.6
27.5
33.2

61.1
27.6
33.5

61.7
27.3
34.4

62.7
27.3
35.4

23.5

23.8

23.9

23.4

23.9

24.1

79. £

0

Other
6.2

286.4 326.6

2.2

1,119.6 1,133.9 1,148.4 1,141.1 1,167.3 1,180.6

Final sales 2
Ratio of inventories to
final sales
Nonfarm 3
0
331.5

.5

p Preliminary.
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories shown in this table is not the current-dollar change
in business inventories (CBI) components of G N P . The former is the difference between two
inventory stocks, each valued at end-of-quarter prices. The latter is the change in the physical
volume of inventories valued at average prices of the quarter. I n addition, changes calculated
from this table are a t quarterly rates, whereas C B I is stated at annual rates.
2. Quarterly totals at annual rates.
3. Equals ratio of nonfarm inventories to final sales of business. These sales include a small
amount of final sales by farms.
N O T E . — Table 16: Inventories are classified as durable or nondurable as follows: For manufacturing, b y the type of product produced b y the establishment holding the inventory; for
trade, b y the type of product sold by the establishment holding the inventory; for construction, durable; and for other nonfarm industries, nondurable. The industry classification is
based on the 1972 Standard Industrial Classification.
Table 17: T h e industry classification of compensation of employees, proprietors' income,
and rental income is on an establishment basis; the industry classification of corporate profits
and net interest is on a company basis. The industry classification of these items is based
on the 1972 Standard Industrial Classification.




498.6

55.7

74.4

243.0 297.8 295.6 309.7 313.5 322.7 345.4 351.7
- 1 . 2 -20.9 -15.2 -17.1 -34.1 -36.3 -18.9 -20.3
4.2

483.6

58.0

Billions of 1972 dollars

-23.5 - 2 4 . 9 - 2 0 . 9

- 5 3 . 8 - 4 8 . 1 -40.3 - 5 6 . 4 - 5 8 6 - 5 2 . 6 - 2 3 . 6
Federal
31.2
31.5 29.8
28.5
29.0
29.6
20.7
State and local
Capital grants received by the
0
0
0
0
0
0
0
United States (net)
276.9

III v

476.4

Farm

Government surplus or deficit
(—), national income and
product accounts
- 3 3 . 2 -18.6 - 1 1 . 8 - 2 5 . 2 -29.6 - 2 1 . 1

241.7

Inventories^
Farm-

Ratio of inventories to
final sales
Nonfarm 3

Table 15.—Gross Saving and Investment (5.1)

Gross investment .

II

Table 16.—Inventories and Final Sales of Business in Current and
Constant Dollars (5.9, 5.10)

-20.9 -15.2 - 1 7 . 1 - 3 4 . 1 - 3 6 . 3 - 1 8 . 9 - 2 0 . 3

Personal saving
73.7
68.0
66.9
67.5
74.3
Undistributed
corporate
profits with inventory
valuation and capital
consumption adjustments. 24.8
28.7
38.0
28.7
28.0
58.4
60.1
60.6
Undistributed profits
58.1
53.8
Inventory valuation adjustment
- 1 4 . 5 - 1 4 . 8 -16.6 - 7 . 7 - 1 4 . 8
Capital consumption adjustment
_
- 1 4 . 4 - 1 4 . 9 -14.8 - 1 5 . 0 - 1 5 . 3
Corporate capital consumption allowances with capital consumption adjustment
111.5 120.9 119.8 122.6 124.6
Noncorporate capital consumption allowances with
capital consumption adjustment
72.6
74.3
66.3
75.9
77.9
Wage accruals less disburse0
0
ments
0

I

Billions of dollars

Table 14.—Foreign Transactions in the National Income and
Product Accounts (4.1)

Capital grants received by the
United States (net)...

IV

Seasonally adjusted at annual rates

Billions of dollars

Exports of goods and services
Merchandise
Other

1978

.270
.234

.270
.234

.268
.233

.272
.237

.269
.234

.268
.234

Table 17.—National Income Without Capital Consumption
Adjustment by Industry (6.4)
National income without capital consumption adjustment
1,393.8 1,554.8 1,537.6 1,578. 0 1,,619. 3 1, 647.2 i.735.2
Domestic income

1,379. 4 1 ,537. 5 1,519.6 1,559. 9 1,603.

L, 6 2 9 . C [,714.1

Agriculture, forestry, and
fisheries

40.5

44.6

43.9

41.1

50.6

47.9

50.7

Mining and construction

88.0

100.4

100.9

103.6

104.2

101.6

118.9

408.3
161.7
246.6

412.9
163.7
249.2

428.7
166.6
262.1

432.5
167.6
265.0

461.9
176.0
285.9

57.8
34.3

59.6
35.4

61.3
36.6

61.3
38.6

66.5
39.3

Manufacturing
Nondurable goods..
Durable goods
Transportation
Communication
Electric, gas, and sanitary
services

362.9
148.1
214.8
51.6
31.4

161.7
247.2
58.4
35.0

27.2

29.5

27.9

30.4

30.0

33.3

32.7

Wholesale and retail trade... 215.3
89.6
Wholesale
125.7
Retail

237.0
96.5
140.5

233.2
95.8
137.4

245.5
101.1
144.3

242.9
96.8
146.1

245.7
98.2
147.5

260.0
105.5
154.5

Finance, insurance, and real
estate
Services.
Government and government enterprises

157.9
188.9

177.9
213.1

174.3

181.5
216.1

185.5
222.0

189.9
231.0

196.6
236.8

215.7

232.7

233.8

241.5

247.2

250.7

14.4

17.3

18.1

15.9

18.2

21.1

Rest of the world.

209.6
229.6
18.0

StTKVEY OF CUKRENT BUSINESS

October 1978

1977
1976

1977

II

III

17

1978
IV

I

II

1977
III*

1976

1977

II

Seasonally adjusted at annual rates

Rest of the world..
Corporate profits with
inventory
valuation
adjustment and without capital consumption adjustment

127.0

144.2

143.7

154.8

148.2

132.6

163.4

118.8
17.4
101.3

134.6
20.7
113.9

133.3
19.8
113.5

144.5
21.7
122.8

140.3
21.6
118.7

123.2

151.7
23.9
127.8

8.2

9.6

10.3

7.9

9.4

10.4

22.3
100.9

11.7

159.1

158.5

169.9

163.5

148.7

180.6

149.5
20.9
6.2
14.6

148.1
19.9
6.2
13.7

159.5
21.9
6.2
15.7

155.6
21.9
6.4
15.5

139.2
22.7
6.9
15.7

168.9
24.3
7.3
17.0

Nonfinancial
Manufacturing
Nondurable goods
Food and kindred
products
Chemicals and allied
products
Petroleum and coal
products
Other

115.6
65.6
37.5

128.6
74.7

128.1
77.4
40.2

137.6
74.7
40.6

133.7
80.2
41.1

116.6
69.8
37.0

144.6
87.8
41.7

7.3

5.7

5.7

7.0

5.7

4.3

5.4

7.9

8.2

8.5

7.9

8.2

8.1

8.3

11.6
10.6

12.8
12.9

13.4
12.6

12.3
13.4

13.8
13.4

10.4
14.3

14.4
13.7

Durable goods
Primary metal industries
Fabricated
metal
products
Machinery,
except
electrical
Electric and electronic
equipment
Motor vehicles and
equipment
Other..

28.1

35.1

37.2

34.2

39.1

32.8

46.1

2.0

1.8

2.9

.9

2.4

1.2

5.1

3.8

4.0

4.1

3.9

4.2

3.2

4.3

5.6

7.1

6.8

7.3

8.5

6.4

9.2

2.7

3.9

3.9

4.1

4.4

4.3

4.8

7.4
6.6

9.5
8.8

11.0
8.6

9.2
8.7

9.1
10.5

7.9
9.7

10.8
11.9

Wholesale and retail trade.

24.0

22.1

16.7

22.0

24.0

22.8

30.6

Transportation,
communication, and electric, gas, and sanitary
services

13.7

16.1

14.5

17.5

17.1

17.3

19.3

Other.

12.4

13.8

13.5

14.7

14.3

12.8

15.4

8.2

9.6

10.4

10.3

7.9

9.4

11.7

238.5

265.1

263.5

277.5

272.8

260.0

294.0

230.3
22.3
6.0
16.3

255.5
26.0
6.2
19.8

253.1
25.1
6.2
18.8

267.1
27.1
6.2
20.9

265.0
27.2
6.4
20.8

250.6
28.1
7.0
21.1

282.2
29.8
7.3
22.5

Nonfinancial
M anufacturing
Nondurable goods
Food and kindred
products
Chemicals and allied
products
Petroleum and coal
products
Other

208.0
105.5
56.5

229.5
118.6
60.9

228.0
120.
61.3

240.0
119.4
62.2

237.7
125.5
63.2

222.5
116.0
59.6

252.4
134.8
64.8

Corporate profits before
deduction of capital
consumption allowances with inventory
valuation adjustment.
Domestic industries
Financial 1 -.
Federal Reserve banks _
Other

10.6

9.3

10.7

9.4

8.1

9.2

12.5

13.5

13.7

13.2

13.7

13.7

14.2

17.4
16.0

19.3
18.8

19.7
18.7

19.0
19.3

20.5
19.5

17.2
20.6

21.4
20.0

Durable goods
Primary
metal
dustries
Fabricated
metal
products
Machinery,
except
electrical
Electric and electronic
equipment
Motor vehicles and
equipment
_
Other

49.0

57.7

59.3

57.2

62.4

56.4

70.0

5.6

5.8

6.9

4.9

6.5

5.4

9.4

5.6

5.9

5.9

6.0

6.2

5.3

6.4

9.7

11.5

11.3

11.9

12.9

11.1

14.0

5.7

7.3

7.2

7.5

8.0

7.9

8.4

10.7
11.7

12.9
14.3

14.0
14.1

12.6
14.3

12.6
16.1

11.3
15.4

14.2
17.6

Wholesale and retail trade.

34.9

36.2

34.8

43.0

34.8

29.8

35.5

Transportation,
comnunication, and electric,
gas, and sanitary services

38.5

42.9

41.1

44.8

44.8

45.3

47.

Other.

29.1

31.8

31.4

32.8

32.6

31.4

34.4

8.2

9.6

10.4

10.3

7.9

9.4

Rest of the world.

275-875 O - 78 - 3




III*

Gross national product... 133.76 141.61 140.86 142.63 144.56 147.10 150.98 153.56

133.2
17.5
6.0
11.6

Rest of the world.

II

Table 19.—Implicit Price Deflators for Gross National Product (7.1)

141.4

Domestic industries
Financial1
Federal Reserve banks
Other

I

Index numbers, 1972=100

Table 18.—Corporate Profits by Industry (6.18)

Domestic industries..
Financial
Nonfinancial

IV

Seasonally adjusted

Billions of dollars

Corporate profits with
inventory
valuation
and capital consumption adjustments

III

1978

11.

Personal consumption expenditures
Durable goods
Nondurable goods..
Services

133.1

140.7

139.9

141.6

143.2

146.2 149.3

151.6

124.4
138.2
131.6

129.5
145.0
141.0

128.9
144.7
139.7

129.5
145.7
142.3

130.9
147.0
144.4

133.1 135.7
150.4 154.4
147.1 149.9

137.8
156.1
152.7

138.4
149.5

150.6
146.7
159.6

148.9
145.0
158.3

151.9
147.9
160.2

155.9
151.2
164.5

158.2 162.3
153.6 156.7
167.2 171.8

167.0
160.5
176.6

133.2
142.5
143.0
142.6

141.0
159.4
160.0
159.7

139.0
157.6
158.2
158.7

142.4
160.6
161.3
161.8

145.2
166.1
166.9
167.5

147.6
168.6
169.5
168.9

149.6
175.7
176.7
176.5

152.9
182.2
183.3
182.2

122.2

126.2

126.2

126.6

127 5

128.8 131.8

133.4

170.1
193.5

178.7
210.3

180.0
209.3

179.4
212.9

179.2
210.2

183.3 189.4
213.8 217.2

192.6
222.9

136.8

146.3

145.1

147.1

150.3

153.2 156.2

158.9

134.4
138.1

142.7
148.5

141.1
147.6

142.7
149.7

146.9
152.3

149.6 151.5
155.2 158.8

153.3
162.1

Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Nonfarm structures
Farm structures
Producers' d u r a b l e
equipment
Change in business inventories
Net exports of goods and services
Exports.
ImportsGovernment purchases ofgoods
and services
Federal
State and local.

Table 20.—Fixed-Weighted Price Indexes for Gross National
Product, 1972 Weights (7.2)
Gross national product... 134.9
Personal consumption expenditures
Durable goods
Nondurable goods
Services

143.3

142.5

144.1

146.5

149.0 152.9

155.6

133.9

141.8

141.2

142.8

144.5

147.3 150.9

153.3

125.0
139.5
131.8

130.5
146.4
141.5

130.2
146.2
140.3

130.6
147.2
142.8

132.1
148.6
145.0

134.5 137.2
151.7 156.4
147.5 150.6

139.4
158.5
153.4

140.7
139.8
147.0

152.3
148.7
156.3

150.7
147.1
154.9

153.6
149.9
157.4

157.6
153.0
160.8

160.1 164.9
155.5 159.2
163.3 168.1

169.4
162.8
172.9

135.7
142.5

144.3
159.2

142.6
157.4

145.6
160.4

148.5
166.1

151.1 154.0
168.6 175.5

157.0
181.8

172.4
184.7

181.3
199.0

182.0
199.2

181.8
202.0

181.7
203.5

185.2 190.9
209.5 211.0

194.4
216.0

137.2

146.8

145.6

147.4

151.0

153.4 156.4

158.9

149.6
152.0

151.4 153.1
154.9 158.6

154.4
162.0

146.4
146.0
145.9
145.7

148.9
148.5
148.3
147.6

155.5
155.1
155.4
154.4

Gross private domestic investFixed investment
N onresidential
Structures
Producers' durable
equipment
Residential
Change in business invenNet exports of goods and services
Exports
Imports

-

Government purchases of goods
and services
Federal
State and local
Addenda:
Final sales
Gross domestic product
Business
Nonfarm

136.0
138.0

144.9
148.1

143.3
147.2

144.6
149.3

134.8
134.4
134.6
134.4

143.3
142.8
142.9
142.9

142.4
142.0
142.0
141.7

144.0
143.6
143.7
143.8

152.8
152.5
152.6
151.4

1. Consists of the following industries: Banking; credit agencies other than banks; security;
commodity brokers and services; insurance carriers; regulated investment companies; small
business investment companies: and real estate investment trusts.
NOTE.—Table 18: The industry classification is on a company basis and is based on the
1972 Standard Industrial Classification.

SURVEY OF CUREENT BUSINESS

18

1977
1976

1977

II

III

October 1978

1978

IV

I

II

1977

III*

1976

1977

II

Seasonally adjusted

Gross national product.. 133.76 141.61 140.86 142.63 144.56 147.10 150.98 153.56

Goods

Final sales
Change in business inventories

133.7

141.4

140.6

142.3

144.4

147.2

150.9

153.5

131.9

136.8

136.6

137.7

138.6

140.9

145.3

147.2

131.6

136.3

136.1

136.9

138.2

141.0

145.1

146.9

Durable goods
129.0 134.5 134.0 135.4 136.2 137.9 141.0 143.4
128.7 134.3 133.7 134.9 136.1 137.3 140.3 142.8
Final sales. _.
Change in business inventories
Nondurable goods
133.9 138.5 138.5 139.4 140.3 143.0 148.5 150.0
133.6 137.7 137.8 138.3 139.6 143.5 148.5 149.9
Final sales
Change in business inventories
Services
Structures.

133.5
145.1

__

143.1
158.1

141.9
156.4

144.2
159.1

146.6
164.1

149.4
166.7

I

II

III*

Index numbers, 1972=100

Table 21.—-Implicit Price Deflators for Gross National Product by
Major Type of Product (7.3)

Change in business inventories ._ __

IV

Seasonally adjusted

Index numbers, 1972=100

Final sales

III

1978

152.2
172.7

154.8
178.2

Table 24.—Implicit Price Deflators for Net National Product and
National Income by Sector (7.7)
Net national product
Net domestic product

Business . . __ _
Nonfarm
Farm
Residual _ _
Households and institutions .
Government . .

132.9

140.6

139.9

141.5

143.4

145.9

149.8

152.2

132.5

140.0

139.3

140.9

142.9

145.3

149.2

151.5

132.2
132.2
146.3

139.4
139.9
143.3

138.8
139.2
146.8

140.4
141.2
131.2

142.1
142.6
145.4

144.4
144.6
163.0

148.6
148.3
192.6

180.0

138.7
132.2

148.3
141.3

146.9
140.2

149.4
141.4

151.1
145.5

157.1
147.9

159.2
149.9

161.5
151.9

151.0

Rest of the world
National income
Domestic income

Business
Nonfarm
__
Farm
Households and institutions.
Government

134.0

142.3

141.4

143.2

145.6

148.1

152.2

133.5

141.6

140.7

142.5

145.0

147.4

151.5

133.5
133.6
127.5

141.4
141.7
129.2

140.5
140.9
129.2

142.4
143.2
115.5

144.6
144.8
141.2

146.8
146.7
150.8

151.3
150.7
176.1

164.4

138.7
132.2

148.3
141.3

146.9
140.2

149.4
141.4

151.1
145.5

157.1
147.9

159.2
149.9

161.5
151.9

Rest of the world

Table 22.—-Implicit Price Deflators for Gross National Product by
Sector (7.5)
Gross national product.. 133.76 141.61 140.86 142.63 144.56 147.10 150.98 153.56
Gross domestic product
Business

133.3

141.1

140.3

142.1

144.1

146.6

150.4

153.0

133.3
133.2
134.6
121.5
145.7

140.8
141.1
142.6
128.7
146.7

140.1
140.3
141.8
127.7
148.9

141.9
142.5
144.0
129.5
138.4

143.6
144.0
145.4
131.6
149.4

146.0
146.0
147.5
133.9
163.2

150.1
149.8
151.3
136.3
184.7

152.8

148.3

146.9

149.4

151.1

157.1

159.2

161.5

141.3
136.4
143.8

140.2
134.4
143.2

141.4
134.6
144.7

145.5
142.5
146.9

147.9
143.3
150.2

149.9
143.5
152.9

151.9
143.9
155.8

NonfarmNonfarm less housing
Housing
Farm
._
Residual
Households and institutions- 138.7
Government
132.2
128.6
Federal..
State and local
_ 134.0
Rest of the world

138.6
177.1

_

Table 23.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
(7.6)
Gross national product
Less:

Capital consumption
allowances with capital consumption adjustment

151.5

149.8

153.5

155.6

158.4

162.2

166.9

140.6

139.9

141.5

143.4

145.9

149.8

152.2

p Preliminary.

130.9

129.6

130.4

134.3

136.4

139.4

142.4

124.6

131.2

130.3

130.7

133.8

135.9

138.6

142.2

Personal consumption expenditures
New autos
Net purchases of used
autos

131.1
122.2

139.0
128.6

138.1
127.4

138.7
129.1

141.3
132.2

145.3
135.0

147.7
137.5

151.9
140.3

Producers' durable equip109.8 114.9 111.5 116.1 123.0 124.5 126.8 129.2
ment
_
122.1 128.6 127.4 129.1 132.2 134.9 137.5 140.3
New autos
Net purchases of used
Exports
__
Imports
Government purchases of
goods and services

128.9
154.2

127.9
148.9

130.0
157.7

132.2
163.6

133.0
172.4

135.3
175.4

140.4
178.9

120.5

126.0

122.4

128.7

134.3

135.9

137.8

142.0

Change in business inventories of new and used

Domestic output of new
122.1 128.6 127.5 129.2 132.2 134.7 137.3 140.3
autos '
__
Sales of imported new autos *_. 122.2 128.6 127.4 129.1 132.3 135.0 137.5 140.3
Table 26.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product (7.11)
Personal consumption
expenditures

126.9
134.0

130.9
142.3

131.8
141.4

131.9
143.2

129.8
145.6

132.9
148.1

135.1
152.2

134.0

Durable foods

Motor vehicles and parts
Furniture and household
equipment
Other

1. Consists of final sales and change in business inventories of new autos produced in the Nondurable goods
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
Food
government purchases.
Clothing and shoes .
Gasoline and oil
NOTE.— Table 21: "Final sales" is classified as durable or nondurable by type of product.
Fuel
oil and coal
"Change in business inventories" is classified as follows: For manufacturing, by the type of
Other
_„.
product produced by the establishment holding the inventory; for trade, by the type of product sold by the establishment holding the inventory; for construction, durable; and for other
Services
-.
industries, nondurable.
Tables 22 and U: The industry classification within the business sector is on an establishHousing
ment basis and is based on the 1972 Standard Industrial Classification.
Household operation
Electricity and gas
Other
Transportation
Other
-




121.9
143.6

Addenda:

141.2

Equals: National income

124.9
. .

Auto output
Final sales

133.76 141.61 140.86 142.63 144.56 147.10 150.98 153.56

Equals: Net national product.. 132.9
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprises
Residual

Table 25.—Implicit Price Deflators for Auto Output (7.9)

133.1

140.7

139.9

141.6

143.2

146.2

149.3

151.6

135.7

137.8

124.4

129.5

128.9

129.5

130.9

133.1

128.4

135.8

134.8

135.7

137.9

141.3

144.0

147.7

120.7
122.9

123.8
126.9

123.5
126.2

124.1
127.2

124.7
128.2

125.7
130.1

128.0
132.1

138.2

145.0

144.7

145.7

147.0

150.4

154.4

129.5
133.4
156.1

150.7
123.5
176.8
244.8
142.0

155.6
124.0
178.2
247.2
143.7

162.6
125.9
178.4
252.1
145.5

144.4

147.1

149.9

164.9
126.0
181.4
253.8
148.1
152.7

134.8
150.1
174.1
134.1
148.2
150.0

137.3
152.7
176.1
135.8
150.7
152.8

140.0
156.0
184.2
137.6
153.3
155.7

142.4
159. 6
188.5
140.3
155.8
158.6

142.1
117.8
164.9
211.7
131.7

148.5
122.3
174.4
239.4
139.0

148.5
121.8
175.2
239.8
137.9

149.4
123.0
173.7
243.3
140.0

131.6

141.0

139.7

142.3

123.5
138.2
154.2
127.3
128.5
136.9

131.5
147.2
169.5
132.1
143.3
146.6

130.4
145.2
166.8
131.3
141.6
145.6

132.4
149.1
172.9
132.8
145.3
147.9

SUEVEY OF CURRENT BUSINESS

October 1978

1977
1976

1977

II

III

19

1978
IV

I

II

1977

III*

1976

1977

II

Seasonally adjusted
Percent

Percent at annual rate

Percent

Personal consumption expenditures:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

7^2
7.1

20.6
8.7
11.0
10.8

10.7
3.4
7.0
7.1

7.0

11.0

7.2

9.9
3.4
6.3
6.6
6.6

11.2
5.7
5.2
5.6

11.0
4.9
5.9
6.2

14.0
5.9
7.7
7.3

11.1
5.7
5.1
4.6

8.9
3.2
5.5
6.5

7.1

5.6

6.3

7.4

4.7

6.8

-i

11.4
5.8
5.3
5.3
5.3

10.7
4.7
5.7
5.9
5.9

7.3
1.4
5.9
6.8
6.9

9.0
4.1
4.8
4.6
4.6

14.1
9.0
4.7
5.0
5.0

7.0
-1.4
8.6
7.7
7.9

15.3
6.0
8.7
10.0
10.2

Durable goods:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

18.1
11.8
5.6
5.6

13.9
4.1
4.3

5.6
4.1
1.5
2.6

4.0
2.0
2.0
1.4

24.1
19.0
4.3
4.4

-7.7
-13.7
7.0
7.2

35.1
25.2
8.0
8.2

3.0
-3.1
6.3
6.3

5.8

4.4

2.8

1.2

4.7

7.5

8.4

6.4

Nondurable goods:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

8.2
4.4
3.7
3.6

8.2
3.2
4.9
4.9

6.7
.1
6.6
7.2

5.3
2.5
2.7
2.9

15.1
11.2
3.6
3.9

3.7
-5.5
9.8
8.4

15.0
3.6
11.0
12.5

8.0
3.5
4.4
5.4

7.4

2.9

3.9

8.6

12.8

5.5
13.9
5.7
7.8
7.7

3.6

Services:
Current dollars
1972 dollars.
...
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

12.2
5.0
6.8
6.8

11.8
4.4
7.2
7.2

8.4
1.5
6.9
7.7

14.1
6.1
7.5
7.2

10.1
3.9
6.0
6.2

15.3
7.0
7.7
7.3

9.8
1.9
7.8
8.4

6.9

7.3

7.8

7.3

6.2

7.3

8.4

7.7

Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

27.3
21.6

22.6
13.2

38.5
25.7

20.5
9.7

5.1
-2.9

12.2
11.3

31.3
15.2

7.5
-4.2

Fixed investment:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

15.5
9.4
5.5
5.9
5.9

8.2

9.9

7.9

Nonresidential:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

9.6
4.7
4.7
5.4

15.7
9.1
6.0
6.2

15.3
7.5
7.2
7.6

14.1
5.3
8.3
8.2

5.2

6.3

7.6

7.9

Structures:
Current dollars
1972dollars
Implicit price deflator.
Chain price index
Fixed-weighted price
index

6.6
3.3
3.1
2.8

11.4
4.4
6.7
6.5

30.9
19.9
9.2
9.5

12.9
7.6
5.0
7.5

2.5

6.3

8.5

6.6

21.3
12.4
7.9
7.8

27.5
16.0
10.0
9.6

13.9
5.3
8.2
8.2

Producers'
durable
equipment:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price
index

11.3
5.3
5.7
6.8

17.9
11.4
5.8
6.0

8.3
2.5
5.6
6.7

14.7
4.3

7.0

6.3

Residential:
Current dollars. _
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

32.5
23.4
7.3
7.3
7.3




7.5
1.2
6.2
6.5

27.8
15.3
10.8
11.9

11.9
11.3

10.9

6.5

12.5

11.5

14.8
5.3
9.0

11.1
4.2
6.7
6.7

31.2
21.3
8.2
9.2

10.0
-.2
10.1
9.3

6.7

9.7

9.4

13.4
2.0
11.1
9.2

6.3
-.3
6.6
5.9

56. 5
40.3
11.5
12.4

16.0
11.7
11.8

8.9

6.2

12.5

11.8

18.8
7.1
11.0
10.8

11.3

8.6

8.2
8.6

13.6
6.2
6.9
7.2

19.8
13.6
5.5
7.6

6.8
-2.0
9.0
8.0

7.1

8.6

8.4

7.1

8.0

7.9

34.8
20.5
11.8
11.8

57.8
37.8
14.5
14.1

13.5
5.2
7.9
8.0

27.3
11.1
14.6
15.1

.5
-5.2
6.0
6.1

21.0
2.7
17.9
17.6

14.0
-1.5
15.8
15.5

11.8

14.1

8.0

14.9

6.2

17.5

15.2

15.6

I

IV

II

III*

Seasonally adjusted

Table 27.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes (8.9)
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted
price
index

III

1978

Percent at annual rate

Table 27.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes^Con.
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index.
Fixed-weighted price index. .

10.8
6.5
4.0
3.7
3.1

7.5
2.4
5.1
5.0
5.2

17.7
7.8
9.2
8.8
8.5

Imports:
Current dollars.
1972 dollars
Implicit price deflator
Chain price index.
Fixed-weighted price index..

22.8
19.3
2.9
2.7
2.2

19.8
10.2
8.7
7.5
7.8

10.6
9.8
.7
7.8
8.4

8.5
1.4
7.1
6.0
5.7

Government purchases of
goods and services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

6.2
.1
6.1
6.2
5.9

9.6
2.4
7.0
7.0
7.0

15.5
8.0
7.0
7.2
7.1

Federal:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index

5.5
.1
5.4
5.6

11.7
5.2
6.2
6.3

5.4

State and local:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index.
Fixed-weighted
price
index..

6.4 - 1 8 . 0
7.6 - 1 7 . 6
-1.2
-.5
-.5
-.2

24.3
13.7
9.4
8.5
8.1

63.4
43.3
14.0
13.7
12.9

11.1
3.8
7.0
7.1
7.6

16.8
22.8
-4.9
2.6
3.1

23.4
15.2
7.1
12.3
12.3

10.3
3.7
6.4
3.7
2.9

12.8
1.7
10.9
9.8
10.0

11.5
5.8
5.4
5.0
5.0

13.7
4.2
9.0
9.5
10.2

4.1
-3.5
7.9
7.3
6.6

7.9
-.2
8.2
7.5
7.8

16.6
9.0
7.0

14.0
10.7
2.9
3.8

11.3
6.4
4.6
3.6

15.7
2.9
12.4
14.2

-2.0 -10.9
-8.9 -15.3
7.6
5.2
6.1
5.0

26.7
21.1
4.6
4.1

6.5

3.8

3.6

14.7

4.9

4.5

3.6

6.6
.1
6.5
6.5

8.4
.8
7.5
7.4

16.4
6.3
9.5
9.2

11.6
5.4
5.9
5.8

12.5
5.1
7.1
6.9

7.8
-.1
8.0
8.0

19.9
9.6
9.5
9.0

11.4
2.6
8.6
8.3

6.2

7.3

9.3

5.9

7.4

7.8

10.0

8.8

Final sales:
Current dollars
1972 dollars
Implicit price deflator...
Chain price i n d e x . . .
Fixed-weighted
price
index

9.8
4.3
5.2
5.6

10.8
4.7
5.8
6.2

12.5
4.6
7.6
7.3

10.1
5.0
4.8
4.6

11.0
4.7
6.0
6.6

6.4
-1.6
8.0
7.0

20.0
8.6
10.5
10.8

11.3
4.0
7.0
7.1

5.6

6.3

7.4

4.7

6.9

7.0

11.0

7.2

Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..

11.0
5.6
5.2
5.7
5.7

10.9
4.8
5.8
6.1
6.3

13.9
5.8
7.7
7.4
7.5

11.2
5.8
5.1
4.5
4.6

9.5
3.5
5.8
6.7
7.0

6.7
7!l
7.0

20.1
8.3
10.9
10.9
11.0

10.7
3.5
7.0
7.0
7.2

Business:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index _
Fixed-weighted
price
index

11.4
6.3
4.8
5.4

11.3
5.4
5.6
6.0

15.1
6.5
8.1
7.8

11.6
6.0
5.3
4.6

8.6
3.5
5.0
6.1

5.8
-.8
6.7
6.7

22.5
9.5
11.9
11.8

11.4
3.9
7.3
7.3

5.4

6.2

7.9

4.7

6.3

6.7

12.1

7.5

Nonfarm:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price
index.

12.4
6.6
5.4
5.5

11.4
5.2
5.9
6.2

15.2
6.2
8.5
7.9

11.9
5.1
6.4
6.1

7.9
3.6
4.1
5.1

7.0
1.1
5.8
5.4

22.9
11.1
10.6
10.7

5.5

6.4

8.0

6.2

5.3

5.3

10.8

9.0
3.5

10.0
4.1

12.5
6.2

10.9
5.9

12.9
7.8

9.8
1.1

12.5
3.5

A

A

Addenda:

Disposable personal income:
Current dollars
1972 dollars

A

9.1
2.6

v Preliminary.
NOTE.—Table 27: The implicit price deflator for G N P is a weighted average of the detailed
price indexes used in the deflation of G N P . I n each period, the weights are based on the
composition of constant-dollar output in that period. I n other words, the price index for each
item is weighted by the ratio of the quantity of the item valued in 1972 prices to the total
output in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and
changes in the composition of output. The chain price index uses as weights the composition
of output in the prior period, and, therefore, reflects only the change in prices between the
two periods. However, comparisons of percent changes in the chain index also reflect changes
in the composition of output. The fixed-weighted price index uses as weights the composition
of output in 1972. Accordingly, comparisons over any timespan reflect only changes in prices.

Key Source Data and Projections for National Income and
Product Estimates: Third Quarter 1978
A,

the recommendations of the
Advisory Committee on Gross National
Product Data Improvement was that
BE A provide a statement of the judgments used in preparing the first published estimates of the quarterly national income and product accounts
(NIPA's).1 When this estimate is prepared—about 15 days after the end of
the quarter—most source data are incomplete or preliminary. Where source
data are incomplete, BE A projects
them through the last month of the
quarter or for the quarter as a whole
using a combination of judgment and
extrapolation. Tables 1 and 2 show the
key source data and projections, and
identify the source data that are subject to revision. Table 1 shows this
information for the current-dollar GNP
estimates. Table 2 shows it for the price
indexes used in the deflation of currentdollar GNP.
The quarter-to-^quarter change that
can be derived from the key source
data and projections in tables 1 and 2
does not always correspond exactly to
that in the NIPA estimates. Differences
arise because of: 1. Use of source data
not shown in the tables; 2. reweighting
of components of the source data in
BEA's estimating methodologies; and
3. adjustments to source data, which
are made occasionally by BEA on the
basis of special information or judgment. For some NIPA estimates, source
LMONG

1. The Advisory Committee on Gross National Product
Data Improvement was appointed in 1973 by the Statistical
Policy Division of the Office of Management and Budget.
A summary of the Committee's recommendations was published in the September 1977 issue of the Statistical Reporter.
The full report will be released soon.

20




data are not shown because they cannot
be conveniently summarized.
For some source data, BEA makes its
own seasonal adjustment; for these data
BEA is identified in the tables as the
source of the seasonal adjustment. In a
few instances, the tables show series
derived by BEA by a major reworking
of the original source data. For these
series, both the source agency and BEA
are identified as the source agency.

Information similar to that in table 1,
covering charges against GNP in the
national income and product account as
well as the other summary accounts, is
available on request from the National
Income and Wealth Division of BEA.
Beginning with the next 15-day estimate, tables presenting the key source
data and projections covering all of the
summary accounts will be available
shortly after the release of the estimates.

Tables 1 and 2
NOTE.—Projections of source data prepared by BEA are in italics. Estimates issued by a
source agency that are subject to revision are identified by an asterisk. The units in which the
source data are shown generally correspond to those used by the source agency.
Abbreviations for Source Agencies
AGA—American Gas Association
AHA—American Hospital Association
API—American Petroleum Institute
BEA—Bureau of Economic Analysis
BLS—Bureau of Labor Statistics
Census—Bureau of the Census
CPI—Consumer Price Index—All urban consumers
CSC—Civil Service Commission
DOD—Department of Defense
DT—Department of Treasury
EEI—Edison Electric Institute
FCC—Federal Communications Commission
FHA—Federal Highway Administration
HEW—Department of Health, Education, and Welfare
MVMA—Motor Vehicle Manufacturers Association
NCSBCS—National Conference of States on Building Codes and Standards
Polk—R. L. Polk & Company
PPI—Producer Price Index
Turner—Turner Construction Company
Wards—Wards Automotive Reports

SURVEY OF CURRENT BUSINESS

October 1978

21

Table 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National Product
[Billions of dollars (except where noted), seasonally adjusted]
Key Source Data and Projections

N I P A Estimates (Annual rates)

I
Gross national Droduct
Personal consumption
penditures.

ex-

1) Motor vehicles and parts. __

II

I

III

1 Apr.

May

June

July

II

Aug.

Sept.

Source of
Seasonal
Adjustment

III

1,992.0 2,087.5 2,141.1
1, 276. 7 1, 322. 9 1, 354. 5
92 5

84 1

90 0

1) New motor vehicles..

__ _ .

Domestic autos:
Retail sales (mil. annual rate)
Average unit value (dollars)

8.7
6, 506

10.2
6,527

10.0
6,582

9.7
6,764

10.0
6,623

9.1
6,821

9.9
6,785

8.9
*6,718

9.3 MVMA
•6, 775 BEA

BEA
BEA

Imported autos:
Retail sales (mil. annual rate)
Average unit value (dollars)
Consumer share of new auto purchases (percent).

2.1
5,641
69.5

2.1
5,783
69.7

2.1
5,681
70.0

2.0
5,683
68.8

2.1
5,716
70.0

1.9
5,796
67.0

2.0
5, 825
69.2

1.9
*5,850
69.2

2.0 Wards
•5, 824 BEA
69.0 PolkBEA

BEA
BEA
BEA

Trucks:
Retail sales (thous.)
_ _
Average unit value (dollars) _.
Consumer share of new truck purchases (percent).

934.1
9,056
25.7

337.3
9,076
25.5

331.5
9,151
25.2

349.6 1, 018. 4
9,258
9,163
25.3
25.1

316.5
9,506
24.7

344.1
9,165
26.8

*284. 4 *945. 0 MVMA
9,491
9,377 BEA
25.5 Polk25.1
BEA

BEA
BEA
BEA

8.9

9.1

9.0

9.1

9.3

193.7

195.7

48.3

49.1

50.8

2) Automotive gasoline sales (bil. gal.).

3) Other goods

552.5

573.8

587.9

3) Sales of all retail stores less building
materials group, motor vehicle
dealers, and gasoline service stations (mil. $).

4) Hotisinfif services

198 1

204 1

209 6

4) Housing stock (mil.). _

2) Gasoline and oil

Source
Agency

1978

1978

CPI Gasoline (1967 = 100)

_ .

CPI, Rent, residential (1967 = 100) __

192.2

192.5

192.4

125, 875

43, 707

43, 853

8.9

9.0

192.3

192.4

43, 865 131,425

9.2

197 7

9.2

BEA
Trade
Source

195 7 BLS

44,195 *44, 498 *45,199 *133, 892 Census

BEA
Census

72.4

72.5

72.6

*72.8

*72.8

*72.9

73.1

73.2

73.2 BEA

BEA

159.7

161.5

162.7

163.6

162.6

164.4

165.3

166.1

165.3 BLS

BEA

6.4

2.0

2.0

2.2

6.2

2.2

2.2

2.2

EEI

BEA

5) Electricity

28.2

27.2

29.0

5) Revenue from sales to ultimate residential customers.

6) Natural gas

15.1

14.3

14.9

6) Sales of gas to ultimate residential
consumers (tril. Btu.).

21.6

22.0

22.5

53.1

54.8

56.2

8) Total expenses of community hos- 14, 240. 8 4, 838.8 4, 897. 5 4,949. 3 14, 685. 6 4, 988. 2 5,011.2 5,034. 2 15, 033. 6 AHA
pitals (mil. $).

BEA

Q^ Other services

275 7

283 4

293 6 9)

Gross private domestic investment.

322.7

345 4

351.7

Fixed investment

306 0

325 3

334 1

Nonresidential

205 6

220 1

225 4

Structures

68 5

76 6

79 5

1) Buildings, utilities
and farm.

57.1

63.5

65.8

1) Value of new nonresidential construction put in place (annual rate).

57.3

61.3

61.9

65.7

63.0

65.9

*64.9

64.9

65.3 Census

Census

2) Oil and gas well
drilling and exploration.

10.2

11.6

12.0

2) Oil and gas drilling footage (mil. ft.) _

52.5

19.2

19.0

21.3

59.6

20.5

19.5

20.2

60.1 API

BEA

60.80 BEA

BEA

12

15

137.1

143.5

145 9

39.7

44.4

42.2

195.0

200.7

204.5

209.9

205.0

209.5

209.2

210.2

209.6 BLS

BEA

1, 325. 7

413.6

414.5

390.2 1,169.0

395.1

416.8

422.2 1, 234.1 AGA

BEA

250. 0

256.4

260.2

261.9

263.7

267.5

269.3

BLS

BEA

7) Local telephone revenues (mil. $)._. 4, 684.2 1, 538. 6 1, 621.2 1,611.8 4, 771. 6 1, 619. 6 1, 624. 6 1, 630. 0 4, 874. 2 FCC

BEA

CPI, Electricity (1967-100)

C PI, U tility (piped) gas (1967 = 100).
7) Telephone- _

.._ .

8) Privately controlled hospitals and sanitariums.

3) other
Producers'
equipment.

durable

1) Motor vehicles

Cost per foot (dollars)
1 6 3)

i

.




3.1

3.5

49 50

47 10

266.8

1) See personal consumption expenditures for retail sales and average
prices of trucks and autos:
Business share of new motor vehicle
purchases (percent):
Trucks

3.2

259. 5

_._

Autos
2) Aircraft

6.6

2) Manufacturers' shipments of complete civilian aircraft (mil. $).

68.9 PolkBEA
30.4 PolkBEA

BEA

618.7 1, 903. 5 Census

BEA

68.8

69.3

69.5

69.9

69.6

69.9

68.1

68.7

29.8

29.3

28.9

30.1

29.4

31.9

29.7

29.6

1,186. 0

407.2

340.5

553.6 1, 301.3

521.7

*763.1

BEA

22

October 1978

SURVEY OF CURRENT BUSINESS

Table 1.—Key Source Data and Projections for the Quarterly Current-Dollar Estimates of the Gross National Product—Continued
[Billions of dollars (except where noted), seasonally adjusted]
Key Source Data and Projections

NIPA Estimates (Annual rates)

I

II

Source
Agency

1978

1978
III

I

Apr.

May

June

July

II

Aug.

Sept.

Source of
Seasonal
Adjustment

III

Nonresdential—
Producers' durable
equipment—Continued
3) Other

__

94.3

Residential .

100.3

Change in business inventories.
Nonfann
1) Manufacturing
and
trade 3

95.9

105.3

16,819 •17,339

17,641

•120.2

121.6

100.2 3) Manufacturers' shipments of nondefense capital goods (mil. $).

47,081

16,598

16,257

16,782

49,637

Capital goods purchased by business (annual rate).

109.5

116.5

113.6

116.6

115.6

New equipment expenditures (annual rate).

122.0

Value of new residential construction
put in place (annual rate).

84.3

92.4

94.5

94.9

94.0

94.0

•92.7

98.1

New single family housing units
started (thous. annual rate).

1,229

1,492

1,478

1,441

1,470

1,453

•1,442

1,420

Manufacturers' shipments of mobile
homes (thous. annual rate).

291

252

258

263

257

232

242

116.8

61,699 Census
119.6 CensusBEA
U26.6 BEA

123.8

Census
Census
BEA

108.8

16.7

20.1

17.6

16.9

22.1

18.6

21.4

19.1

16.7

u$

98.8 Census

Census

Census

Census

U4B8

289 NCS

BCS

BEA

1) Change in book value of inventories:
Census

Manufacturing (mil. $) _ _.

4,146

1,855

1,974

1,868

5,697

1,610

•1,684

1,707

6,001 Census

Merchant wholesalers (mil. $ ) . . ___

4,884

1,985

607

346

2,938

-156

•-126

988

661 Census

Retail trade (mil. $)

2,024

866

1,100

480

2,446

927

•1,210

779

2,916 BEA

BEA

Farm products and processed foods
and feeds.

196.7

206.2

207.2

209.3

207.6

207.5

205.3

•208.6

•207.1 BLS

BLS

Industrial commodities

203.0

205.8

207.2

208.4

207.1

209.7

211.1

•212.3

•211.0 BLS

BLS

Food and farm products .

146.3

148.7

150.4

151.7

151.7

150.9

150.3

•151.4

•151.4 BLSBEA

BEA

Other

146 1

147 0

147.7

148 6

148.6

149.4

150.2

•151.9

•151.9 BLSBEA

BEA

U.S. exports of merchandise

30 8

11 6

11.8

12 1

35.5

11.8

12.5

12.8

86.6 Census

Census

U.S. imports of merchandise

40.5

14.5

14.0

13.7

42.2

14.8

14.1

14.6

43.4 Census

Census

Federal purchases (cash basis, not
seasonally adjusted).

36.1

11.6

12.4

12.6

36.6

11.3

14.2

14.2

89.6 DTBEA

BEA

1) State and local government employment (thous.).

12,629

12,772

12,802

12,832

12,802

28 5

32 7

37 2

37 0

35 6

38 0

•38 1

87.8

88 0 Census

BEA

16.2

18.4

17.2

17.3

17.5

17.7

17.9

17.7 HEWBEA

BEA

Census

PPI (1967=100):

Inventory book value price indexes
(1972=100):

2) Other

.

—4.5

3.0

—0.2

—2 0

—1.0

-24.1

-5.5

-6.5

181.7

205.4

210 9

122.7

140 3

145.2

Other

59.0

65 1

65.7

Imports

205.8

210.9

217.3

167.5

171.5

177.2

38 3

39 4

40 1

416.7

424.7

441.3

Federal

151.5

147.2

156.1

State and local

265 2

277 6

285 2

151.1

154.1

157.0

35 8

Farm
Net exports of goods and
services.
Exports __
Merchandise _

Merchandise
Other _
Government purchases of
goods and services.

1) Compensation of employees.

1.9

2)

2) Structures

29 1

3) Medical vendor payments.

16.8

17.3

38 1 2) New construction Dut in Dlace (annualrate).
17.7 3) Medical vendor payments under
federally assisted and other state
programs (annual rate).

4) Other

68.3

70.5

72.5

1. Planned.
2. Excludes nonmerchant wholesalers.




4)

16.8

12,784 •12,764 •12,747 •12,765 BLS

BEA

October 1978

SUEVEY OF CURRENT BUSINESS

23

Table 2.—Key Source Data and Projections for the Deflation of Current-Dollar Gross National Product
G N P Implicit Price Deflators

Key Source Data and Projections

Seasonally adjusted index numbers, 1972=100
1978

Personal consumption expenditures.
1) Motor vehicles
parts.

and

1978

I

II

III

146.2

149.3

151.6

141.3

144.0

Source of
Source Seasonal
Agency Adjustment

Seasonally adjusted index numbers, 1967=100, except where noted

147.7

I

1) CPI, New cars
CPI, Used cars

Apr.

May

June

II

July

Aug.

Sept.

III

149.9

151.4

152.8

154.1

152.8

155.3

155.8

166.3

166.8 BLS

BEA

180.3

181.8

183.5

186.6

184.0

187.8

188.0

189.2

188.3 BLS

161.3
143.4

164.1
145.2

164.7
147.3

165.8
148.0

164.9
146.8

165.2
148.0

165.9
149.4

166.6
160.4

166.9 BLS
149.3 BLS

BEA
BEA
BEA

199.3
210.5

207.5
214.0

210.8
215.8

213.7
218.2

210.7
216.0

213.4
219.9

213.4
221.7

213.4
223.0

213.4 BLS
221.6 BLS

2) Furniture and household equipment.

125.7

128.0

129.5 2) C P I , Furniture and bedding
CPI, Household appliances

3) 0 ther durable goods

130.1

132.1

133.4 3)

4) Food. .

155.6

162.6

164.9 4) C P I , Food at home
CPI, Food away from home

124.0

125.9

126.0

5) CPI, Women's and girls' apparel..
CPI, Men's and boys' apparel
CPI, Footwear

148.8
156.4
160.1

150.7
156.2
161.2

151.6
156.6
162.7

151.1
157.6
162.9

151.1
156.8
162.3

150.6
158.0
163.2

150.4
157.5
163.8

160.2
168.1
164.6

160.4 BLS
167.9 BLS
163.9 BLS

BEA
BEA
BEA
BEA
BEA

178.2

178.4

181.4

6) C P I , Gasoline
CPI, Motor oil, coolant, and other
products.

192.2
172.6

192.5
174.5

192.4
174.3

192.3
174.8

192.4
174.5

193.7
175.1

195.7
176.5

197.7
177.6

195.7 BLS
176.4 BLS

BEA
BEA

7) Fuel oil and coal

247.2

252.1

253.8 7) C P I , Fuel oil

288.9

293.4

294.7

296.0

294.7

296.0

296.6

297.2

296.6 BLS

8) Other
goods.

143.7

145.5

148.1 8) CPI, Tobacco products
CPI, Medical care commodities
CPI, Toilet goods and personal care
appliances.

172.8
140.0
173.2

173.7
141.7
173.2

174.2
142.6
175.1

175.1
143.3
174.9

174.3
142.5
174.4

180.1
143.9
176.5

180.8
144.6
177.9

181.9
145.3
179.0

180.9 BLS
1U.6 BLS
177.8 BLS

BEA
BEA
BEA
BEA

9) Housing services
10) Household operation

137.3
152.7

140.0
156.0

11) Transportation services.

150.7

153.3

159.7
195.0
250.0
132.3
213.4

161.5
200.7
256.4
132.7
215.7

162.7
204.5
260.2
132.7
217.5

163.6
209.9
261.9
132.^
219.7

162.6
205.0
259.5
132.7
217.6

164.4
209.5
263.7
132.9
221.3

165.3
209.2
267.5
133.2
222.7

166.1
210.2
269.3
133.6
224.3

165.3
209.6
266.8
133.2
222.8

BLS
BLS
BLS
BLS
BLS

BEA
BEA
BEA
BEA
BEA

12) Other services

152.8

155.7

142.4 9) C P I , Rent, residential
159.6 10) C P I , Electricity
CPI, Utility (piped) gas
CPI, Telephone service
155.8 11) C P I , Automobile maintenance
and repair.
158.6 12)

Fixed investment

158.2

162.3

167.0

Nonresidential

153.6

156.7

160.5

167.2

171.8

176.6

5) Clothing and shoes

6) Gasoline and oil

nondurable

.__

Gross private domestic investment.

1) Structures

._

2) Producers' durable
equipment.
Residential
1) Structures
2) Producers'
equipment.

durable

167.8

Turner Construction Company
construction cost index (1972=
100).

141

144

2) P P I , Finished goods, capital equipment.

193.3

195.6

197.3

198.9

197.3

199.0

200.6

201.8

200.5 BLS

BLS

183.3 1) Bureau of the Census index on new
one-family houses (1972=100).
2)

170.5

174.0

179.5

181.6

178.4

184.5

186.1

186.1

185.6 Census-

BEA

149.6

152.9
182.2

168.6

175.7
176.7

128.8

131.8

BEA

156.6

147.6

169.5

167.8 FHA-

1) Federal Highway Administration
cost index for highway structures
(1972=100).

BEA

146 Turner-

BEA

133.4

Change in business inventories.

Nonfarm inventory change
indexes:
Food and farm products

BEA

BEA

price

BEA
BEA

188.8

196.3

197.9

199.1

197.8

197.8

195.4

*198.7

•197.3 BLS-

197.2

200.2

201.1

202.3

201.2

203.7

205.4

*206.4

•205.2 BLS-

Unit value index, U.S. exports of
merchandise.

218.2

222.8

223.3

233.6

226.6

232.9

236.6

234.2

234.6 Census

BEA

Unit value index, U.S. imports of
merchandise.

283.1

286.6

288.8

292.7

289.4

294.5

295.0

298.2

295.9 Census

BEA

Other.

_

_

.

BEA
BEA

Net exports of goods and
services.
Exports

_

Merchandise
Other

_.

Imports
Merchandise
Other
Government purchases of
goods and services.




183.3

189.4

192.6

181.3

188.4

191.4

187.6

191.7

195.5

213.8
224.8

217.2
227.9

222.9
234.2

176.3

180.4

183.6

153.2

156.2

158.9

BY ROBERT B. BRETZFELDER

State Personal Income, 1978:1-1978:11

personal income increased
3% percent from the first to the second
quarter of 1978. Real income increased
about 1 percent, as consumer prices (as
measured by the implicit price deflator
for personal consumption expenditures)
increased by a little more than 2 percent. The increase in current-dollar income exceeded the national increase in
consumer prices in 40 States, was about
equal to it in 8 States, and fell short of
it in 2 States and the District of
Columbia.
State nonfarm income also increased
sy4 percent.1 Nonfarm income increased
in all States (and the District of Columbia) except Alaska, where it declined 2
percent. The largest increases were in
West Virginia (15% percent) and Kentucky (7}{ percent), where coal mining
resumed after the first-quarter strike.
Most of the 21 States with average or
above-average increases in nonfarm income had been adversely affected by
the severe weather in the first quarter,
when they registered below-average increases in nonfarm income. Some, in
addition, had been adversely affected
by the coal strike. Many of the States
were in, or adjacent to, the NortheastGreat Lakes manufacturing belt and
the Appalachian coal fields (chart 9).
Many of the remaining 29 States, where
nonfarm income increased at rates below the national average, had been relatively unaffected by the severe weather and the coal strike in the first quarter,
1. The discussion is in terms of changes in nonfarm income
in order to abstract from the erratic changes to which farm
income is subject.

24




when they registered above-average
increases in nonfarm income.
In the second quarter, as in the first,
much of the State-to-State variation in
nonfarm income gains was attributable
to changes in mining, construction, and
manufacturing payrolls. Some, in addition, was attributable to changes in
government payrolls. The accompanying tabulation highlights variation between average or above-average States
and below-average States in these payrolls and in other income components
that can be related to them.
In the average or above-average
States as a group, mining payrolls increased 81M percent, reflecting the
resumption of work after the firstquarter coal strike. Large increases in
mining payrolls were responsible for
much of the strength in nonfarm income
in West Virginia, Kentucky, Alabama,
Pennsylvania, Virginia, and Indiana,
and were at least partly responsible for
the strength in Ohio and Maryland. In
the below-average States, mining payrolls increased only I7}i percent. Large
increases, however, were registered in
Illinois and Missouri, both of which had
also been adversely affected in the first
quarter by the coal strike.
Construction payrolls in the average
or above-average States increased 13%
percent. The largest increases tended to
be in States that had been most affected
by the severe weather in the first quarter. In the below-average States, construction payrolls increased only 6%
percent. These payrolls declined in
Alaska and were especially weak in

Idaho, Maine, Colorado, Louisiana,
Mississippi, Oregon, and South Dakota.
Manufacturing payrolls in the average or above-average States increased
nearly 4 percent. The largest increases
were in Delaware, Massachusetts,
Rhode Island, Connecticut, and Maryland, as durables manufacturing accelerated. In the below-average States,
manufacturing payrolls increased only
2% percent. These payrolls declined in
South Dakota and Alaska, and increased
only slightly in Mississippi, Hawaii, and
Montana.
Reflecting strength in mining, construction, and manufacturing, and also
in government payrolls (both Federal
civilian and State and local), payrolls in
private service-type industries (in particular, the transportation-communication-public utilities group) and nonfarm
proprietors' income (in particular, construction proprietors' income) increased
substantially more in the average or
above-average States than in the belowaverage States, and State unemployment insurance benefits declined substantially more.
Table A.— Percent Change, 1978:1-1978:11

United
States
Nonfarm income
Wage and salary disbursements:
Mining
__
Construction
Manufacturing
Government
Private service-type
industries 2
Nonfarm proprietors' income
State unemployment insurance benefits

Average
or above- Belowaverage average
States i States i

3.2

4.6

2.4

43.9
11.3
3.2
1.2

81.3
13.8
3.9
1.9

17.2
6.6
2.3

3.3

3.7

2.8

3.8

4.3

3.0

-18.9

-24.6

-16.1

1. Grouped by changes in nonfarm income.
2. Consists of wholesale and retail trade, the financeinsurance-real estate group, the transportation-communication-public utilities group, and services.




O
o
o*

8"

CHART 9 s
00

Nonfarm Income: Percent Change—1978:1 - 1978: II

o
o

GO

Average or Above Average
3.2 to 15.6%
Below Average
-2.1 to 3.1%
U.S. Department of Commerce, Bureau of Economic Analysis

78-10-9
to

SUEVEY OF CUERENT BUSINESS

26

October 1978

Table 1.—Total Personal Income, States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
1976

1975
State and region
II

III

IV

1977

II

III

IV

1978

II

III

IV

II

United States

1,197,357

1,230,670

1,267,216

1,298,542

1,333,366

1,356,675

1,385,519

1,421,988

1,462,670

1,498,650

1,532,619

1,579,621

1,616,817

New England

70,999

72,602

74,254

76,121

77,877

79,018

81,150

82,615

85,249

86,708

88,804

90,966

93,313

97,114

20,523
4,803
34,135
4,192
5,128
2,218

20,884
4,947
34,899
4,325
5,263
2,284

21,197
5,119
35,735
4,467
5,381
2,354

21,715
5,300
36,564
4,607
5,493
2,441

22,043
5,513
37,426
4,744
5,646
2,504

22,351
5,658
37,924
4,847
5,689
2,548

22,954
5,855
38,818
5,026
5,877
2,620

23,397
5,976
39,489
5,144
5,943
2,666

24,261
6,057
40,738
5,309
6,161
2,723

24,686
6,158
41,441
5,433
6,208
2,782

25,288
6,272
42,414
5,602
6,396
2,832

25,984
6,394
43,263
5,843
6,562
2,919

26,491
6,585
44,492
6,063
6,687
2,995

27,404
6,764
46,626
6,259
6,974
3,086

263,573

269,511

275,528

280,538

286,082

289,373

295,938

300,635

308,839

314,816

321,587

328,091

334,202

344,464

3,660
4,923
25,406
48,245
114,596
66,742

3,732
5,105
25,971
49,227
117,156
68,320

3,840
5,245
26,690
50,396
119,149
70,207

3,940
5,394
27,495
51,427
120,479
71,802

3,965
5,500
27,949
52,406
122,929
73,332

4,145
5,603
28, 601
53,006
123,269
74, 747

4,155
5,742
29,179
54,270
126,181
76,411

4,274
5,895
29,691
55,009
128,008
77,757

4,268
5,993
30,258
56,843
131, 790
79,688

4,461
6,164
31,181
58,058
133,215
81,736

4,547
6,165
31,369
59,249
136,496
83,762

4,631
6,519
32,543
60,205
138,859
85,334

4,688
6,614
32,979
61,537
142,122
86,262

4,902
6,697
34,035
63.587
145,309
89,935

238,106

243,599

251,210

257,477

264,704

271,040

275,539

283,441

289,941

298,694

304,886

313,065

320,357

330,915

81,155
33,088
61,188
67, 754
27,856

82,621
33,481
61,985
68,962
28,490

84,952
34,350
63,972
70,763
29,405

85,276
35,358
66,769
72,175
30,362

86,289
36,707

68, 972
75,028
31,698

86,920
37,365
70,789
77, 368
32,443

90,900
38,130
71,687
78,666
33,683

92,740
39,089
73,893
79,767
34,867

95,806
40,472
75,760
82,937
35,939

Connecticut
Maine
Massachusetts
New Hampshire.
Rhode Island
Vermont
Mideast
Delaware
District of ColumbiaMaryland
New Jersey
New York
Pennsylvania
Great Lakes
Illinois
Indiana
Michigan
Ohio
Wisconsin

1,670,128

72,556
28,659
52,212
60,005
24,674

74,391
29, 205
53,565
61,090
25,348

76,427
30,331
55,455
62, 756
26,242

78,295
31,010
57,093
64,256
26,823

79, 564
32,097
59,455
66,200
27,388

90,513

94,283

97,836

99,179

100,156

101,493

102,873

106,013

109,828

113,476

115,938

122,022

123,817

127,390

16,019
12,919
21,612
24,818
8,495
3,449
3,200

16,690
13,376
22,332
25, 756
9,051
3,706
3,372

17,245
13,908
23,114
26,645
9,386
4,008
3,530

17,495
14,134
23,595
27,193
9,387
3,839
3,538

17,404
14,595
23,869
27,701
9,361
3,782
3,445

17,651
14,839
24,276
28,142
9,466
3,714
3,404

17,724
14,932
24,897
28,729
9,435
3,672
3,484

18,174
15,469
25,620
29,703
9,682
3,721
3,645

19,001
15,877
26,915
30,350
10,068
3,877
3,741

19,687
16,235
27,969
31,432
10,299
3,920
3,934

19,846
16,554
28,422
32,490
10,466
3,975
4,185

20,675
17,711
30,041
33,503
11,131
4,405
4,557

21,591
17,342
30,936
33,835
11,167
4,274
4,672

21,982
17,916
31,994
34,945
11,444
4,333
4,775

229,080

236,148

243,340

250,315

258,927

263,395

268,573

276,594

283,962

291,554

298,828

307,518

314,668

326,426

15,941
9,021
45,081
23,696
15,744
17,432
9,013
25,390
12,452
19,141
27,616
8,554

16,394
9,305
46,232
24,427
16,270
18,008
9,302
26,460
12,937
19,716
28,314
8,783

17,101
9,845
47,216
25,042
16,825
18,538
9,619
27,365
13,292
20,363
29,133
9,002

17,587
9,889
47,914
26,021
17,367
19,140
9,954
28,313
13,855
20,964
29,933
9,377

18,245
10,203
49, 732
26,756
17,945
19,964
10,347
29,065
14,340
21,818
30.833
9,680

18,484
10,267
50,289
27,308
18,339
20,444
10,651
29,502
14,617
22,179
31,422
9,894

18,857
10.404
50, 953
27,765
18,828
20,767
10,821
30,315
14,966
22,611
32,215
10,070

19,500
10,814
52,998
28,431
19,289
21.545
11,165
30,796
15,201
23,240
33,125
10,490

19,886
11,254
54,442
29,240
19, 705
22,263
11,494
31,768
15,632
23,920
33,747
10,612

20,480
11, 659
55,403
29,962
20,398
22,902
11,819
32,480
16,012
24,575
34,773
11,092

21,028
12,117
57,303
30,670
20,742
23,361
12,115
33,053
16,311
25, 077
35, 754
11,296

21,584
12,483
58,839
31,561
21,400
24,222
12,647
33,860
16,788
25, 905
36,710
11,518

22,194
12,729
60,907
32,725
21,354
24,904
12,860
34,986
17,295
26,494
37,324
10,897

22,993
13,282
62,556
33,412
22,930
25.588
13,218
35,897
17, 722
27,336
38,892
12.589

95,174

98,227

101,988

105,117

109,115

111,282

113,933

117,950

121,478

124,858

128,424

133,368

136,690

141,383

Arizona
New Mexico
Oklahoma
Texas

11,435
5,245
13, 663
64,830

11,698
5,438
14,097
66,994

12,120
5,670
14,633
69,564

12,445
5,804
14,935
71,933

12,886
6,025
15,369
74.834

13,207
6,121
15, 549
76,405

13,455
6,233
15,849
78,397

13,933
6,459
16, 470
81,088

14,352
6,710
17,015
83,401

14,760
6,864
17,511
85,724

15,051
7,017
18,011
88,345

15,607
7,291
18,822
91,648

16,261
7,521
19,024
93,884

16,830
7,794
19,830
96,929

Rocky Mountain

30,046

31,093

32,244

33,175

34,140

34,481

35.405

36.546

37,545

38,525

39,238

41,183

42,287

43,468

14,458
3,961
3,796
5,640
2,191

14,987
4,137
3,934
5,782
2,253

15,499
4,286
4,129
5,997
2,333

15,914
4,463
4,220
6,154
2,424

16,345
4,594
4,254
6,414
2,533

16,606
4,427
4,282
6,576
2,590

16,844
4,906
4,241
6,747
2,667

17,446
4,988
4,349
6,983
2,779

17,941
4,990
4,495
7,225
2,894

18,419
5,057
4,594
7,421
3,034

18,894
5,077
4,658
7,508
3,101

19,753
5,385
4,898
7,885
3,263

20,342
5,508
4,932
8,136
3,367

20,810
5,640
5,035
8,438
3,545

Plains
Iowa
Kansas
Minnesota
Missouri
Nebraska
North Dakota
South Dakota
Southeast
Alabama
Arkansas
Florida
Georgia
Kentucky
Louisiana
Mississippi
North Carolina
South Carolina..
Tennessee
Virginia
West Virginia
Southwest

Colorado
Idaho
Montana
Utah
Wyoming
Far West
California
Nevada
Oregon
Washington
Alaska
Hawaii

171,217

176,163

181,346

186,772

192,460

196,331

201,418

207,512

214,725

218,880

224,018

232,211

239,886

247,287

133, 606
3,734
12,519
21,358

137,213
3,854
12, 940
22,155

141,243
3,956
13,447
22,700

145,418
4,098
13,807
23,448

149,802
4,232
14,311
24,115

152,909
4,340
14,589
24,492

157,096
4,453
14,894
24,975

161,682
4,615
15,449
25,766

167,130
4,832
16,072
26,691

170,587
4,947
16,368
26,977

174,566
5,123
16,689
27,640

180,575
5,335
17,474
28,827

185,829
5,602
18,291
30,164

191,789
5,761
18,716
31,020

3,098
5,553

3,363
5,680

3,693
5,776

3,901
5,947

3,766
6,140

4,103
6,160

4,383
6,308

4,280
6,401

4,404

4,464
6,675

4,135
6,762

4,241
6,956

4,419
7,179

4,325
7,356

85,249
268,320
289,941
109,828
215, 959
75,005
133,932
63,440
220, 996

86,708
273,010
298,694
113,476
221,527
77, 272
137,796
65,096
225,071

88,804
279,507
304,886
115,938
226,468
78, 962
141,834
66,429
229, 791

90,966
284,398
313,065
122,022
232,970
81,536
147,176
69,416
238,073

93,313
289,920
320,357
123,817
238,415
82,902
150,540
71,671
245,881

97,114
298,830
330,915
127,390
246,713
86,478
155,629
73,853
253,207

Census regions
New England
Middle Atlantic
East North Central
West North Central
South Atlantic
East South Central
West South Central
Mountain
Pacific

70,999
229,583
238,106
90,513
176, 777
59,839
104, 947
50,460
176,134

72,602
234,703
243, 599
94,283
181,961
61,682
108,404
52,084
181,352

74,254
239,752
251,210
97,836
186,825
63,908
112,580
53,991
186,859

76,121
243,708
257,477
99,179
192,243
65,872
115,896
55,522
192,522

77,877
248,666
264,704
100,156
197,822
68,354
120,370
57,283
198,134

79,018
251,023
271,040
101,493
201,382
69,652
122,665
58,149
202,254

NOTE.—The quarterly estimates of State personal income were prepared by Robert L.
Brown and Robert M. Lipovsky with the aid of Q. Francis Dallavalle and Thelma E.
Harding, under the supervision of Kenneth P. Berkman.




81,150
256,862
275,539
102,873
205,361
71,118
125,416
59,546
207,655

82,615
260,774
283,441
106,013

210, 902
73,193
129,918
61,553
213,578

By HOWARD L. FRIEDENBERG

Regional Differences in Personal Income Growth, 1929-77

_T ROM 1929 to 1977, the earliest and
latest years for which BEA's regional
income estimates are available, growth
in personal income was below the
national average in each northerncentral region (New England, Mideast,
Great Lakes, and Plains) and was above
the national average in each southernwestern region (Southeast, Southwest,
Rocky Mountain, and Far West). This
article discusses personal income growth
rates for 1929-77 as a whole and for five
component timespans: 1929-40, 194050, 1950-59, 1959-69, and 1969-77. The
choice of the first three timespans is
based solely on data availability; annual
regional income estimates are not available for these timespans. It should also
be noted that for the subsequent timespans, no attempt was made to utilize
time series analysis that separates trend
from cyclical changes. However, it is
clear from an examination of the
patterns that characterize these timespans that the patterns to a large extent
reflect trend.
As is summarized in table 1 and
shown in more detail in table 2, belowaverage income growth in the northerncentral regions and above-average
income growth in the southern-western
regions prevailed throughout 1929-77,
and the article identifies the main
factors responsible for this pattern.
However, the disparity between the
rates of growth varied over time, and
the article identifies the factors that
help explain the rates of growth in the
two regional groupings in the component timespans.
Although this article focuses on regional differences in total personal income growth, it is also noteworthy that
regional differences in per capita personal income narrowed from 1929 to
1977. Per capita personal income de-




clined from 119 to 104 percent of the
national average in the northern-central
regions and increased from 70 to 96 percent of the national average in the
southern-western regions. Relative to
the national average, each northerncentral region except the Plains registered a per capita income decline and
each southern-western region except
the Far West registered an increase
(chart 10). The narrowing of regional
differences reflected the geographic dispersion of industries, which in turn led
to more uniformity among regions in
the industrial distribution of income
(table 3) and in the level of income per

worker. The narrowing also reflected
the migration from the Southeast to
the northern-central regions of low-income, redundant farm workers (with
their typically large families).
1929-77

Growth in personal income from 1929
to 1977 was 26.6 percent below the
national average in the northern-central
regions (that is, the regions had a 26.6percent growth disadvantage), and 71.6
percent above the national average in
the southern-western regions (that is,
the regions had a 71.6-percent growth
advantage). Each northern-central re-

• • ^ ^ ^ • • • • • • ^ ^ ^ ^ ^ ^ ^ • • • • • • • ^ • ^ • • • M H H H CHART 10
Per Capita Income as a Percent of the National Average BEA Regions, Selected Years
Percent

140

130

Mideast

Far West*

New England
120
Great Lakes

^

'

-

"

^

^

110

100

UNITED STATES

90
Rocky Mountain
Plains
80

70
Southwest

60

Southeast

-

—*

50
1929

1940

1950

1959

1977

1969

""Including Alaska and Hawaii.
U.S. Department of Commerce, Bureau of Economic Analysis

27

SURVEY OF CUEEENT BUSINESS

28
gion had a growth disadvantage, and
nearly every major income component
contributed to each region's disadvantage. Conversely, each southern-western
region had a growth advantage, and
nearly every major income component
contributed to each region's advantage.
Throughout 1929-77, regional differences in wage rates, taxes, and land
costs encouraged manufacturing expansion in southern-western locations and
discouraged it in northern-central locations. In addition, because agriculture
accounted for a relatively large share of
total income in the southern-western
regions, the continuing mechanization
of agriculture released more low-paid
workers for manufacturing jobs in the
sou them-western than in the northerncentral regions. Moreover, because
southern-western manufacturing consisted mainly of nondurable goods, it
was less sensitive to cyclical downturns
than northern-central manufacturing,
which consisted mainly of durable
goods. Eeflecting the rapid growth of
manufacturing and a net in migration
of population from the northern-central
regions, construction and service-type
industries increased faster in the
southern-western than in the northerncentral regions.

proprietors' income in construction and
manufacturing, as well as in property
income. The declines in construction
and manufacturing were from high
levels of demand in the twenties for
residential and nonresidential buildings
and durable goods. Property income
declined, as real estate and securities
markets fell well below earlier boom
levels. Service-type industries also declined. In the Plains, the decline reflected a decline in farming.
In the southern-western regions, the
increase in personal income reflected increases in the Southeast and Far West
that more than offset declines in the
Southwest and Eocky Mountain regions. In the Southeast and Far West,
the increases partly reflected large increases in manufacturing, as the Federal
Government's dam construction program began to provide inexpensive hydroelectric power. Private construction
in the Southeast and service-type industries in the Far West also registered
large increases. In the Southwest and
Eocky Mountain regions, the declines
reflected declines in farming due to
"Dust Bowl" conditions, especially in
the Southwest, and in mining, especially
in the Eocky Mountain region.
1940-50

1929-40
In the timespan that included the
Great Depression, personal income declined 9.0 percent in the Nation and
12.8 percent in the northern-central
regions, but it increased 1.5 percent in
the southern-western regions. Each
northern-central region registered a decline. In the New England, Mideast,
and Great Lakes regions, the declines
partly reflected declines in labor and

In 1940-50, a period of rapid income
growth nationally, the northern-central
regions had a 12.3-percent growth disadvantage and the southern-western regions had a 28.5-percent growth advantage. In the northern-central regions,
the growth disadvantage reflected disadvantages in New England and the
Mideast that more than offset nearaverage growth in the Great Lakes re-

Table 1.—Percent Change and Growth Advantage or Disadvantage in Total Personal
Income for BEA Regions, Selected Timespans
[Percent]

1929-77 . .
1929-40
1940-50
1950-59
1959-69
1969-77 _ _
1
2

_

United
States

Northern-central regions

Percent
change

Percent
change

1656. 7
-9.0
189.5
68.8
92.4
105.7

Include Alaska and Hawaii in 1959-69 and 1969-77.
[Regional percent change-r-national percent change]—100.




1216.0
-12.8
166.2
61.1
84.2
91.2

Growth advantage or disadvantage (—)2
-26.6
-12.3
-11.2
-8.9
-13.7

Southern-western regions l

Percent
change

2842.2
1.5
243.5
82.7
105.1
126.0

Growth advantage or disadvantage (—) 2
71.6
28.5
20.2
13.7
19.2

October 1978

gion and a growth advantage in the
Plains. In New England and the Mideast, manufacturing grew less than the
national average. In contrast, in the
Great Lakes region, manufacturing
growth was about average. Great Lakes
manufacturing benefited during World
War II from the conversion of the motor
vehicles, machinery, and primary and
fabricated metals industries to the production of military durable goods, and
after the war from strong catch-up demand for consumers' durables. In the
Plains, the income growth advantage reflected strength in farming.
Each southern-western region had a
growth advantage. The advantage
partly reflected strength in Federal
Government payrolls; military installations and related civilian services were
being located in regions with mild
climates and relatively sparse population. The Southeast and Far West
benefited also from strength in manufacturing; growth in the demand for
military durable goods stimulated the
aircraft industry in the Far West,
primary metals in the Southeast, and
machinery in both regions. The Southwest and Rocky Mountain regions
benefited from a recovery in farming,
and the Southwest from strength in
petroleum and natural gas mining.
1950-59
In 1950-59, a period of slow income
growth nationally, the northern-central
regions continued to have a iarge
growth disadvantage (11.2 percent), and
the southern-western regions continued
to have a large growth advantage (20.2
percent). Each northern-central region
had a growth disadvantage. In the New
England, Mideast, and Great Lakes
regions, the disadvantage reflected
weakness in manufacturing, which was
most pronounced in the recessions of
1953-54 and 1957-58. In New England,
the weakness was mainly in textiles; in
the Mideast, it was in textiles, apparel,
and the metal products industries (that
is, machinery, transportation equipment, and fabricated metals); and in the
Great Lakes region, it was in the metal
products industries. In the Plains, the
disadvantage reflected a decline—larger
than in any other region—in farming;
strength in metal products manufacturing, however, was a partial offset.

October 1978

SUKVEY OF CURRENT BUSINESS

29

Table 2.—Percent Change in Total Personal Income, Population, and Per Capita Personal Income for BEA Regions, Selected Timespans
Labor and proprietors' income
Total
personal
income Total

Nonfarm
Government

Private
Total

Total Mining

Farm

Manu- Service- Total Federal
ConState
struction facturing type i
and local

Less:
personal
Prop- Trans- contrierty
fer pay- butions
income ments for social
in~urance

Population

Per
capita
personal
income

1929-40
United States
Northern-central regions..
New England
Mideast
Great Lakes
Plains
Southern-western regions
Southeast
Southwest
Rocky M ountain
Far West

-4.0

-1.1

-7.7

-14.2

-33.4

-3.0

-6.9

70.8

199.8

22.8

-26.3

-33.4

108.2

371.9

8.4

-16.0

-12.8 - 7 . 5
-10.6 - 7 . 2
-13.1 - 5 . 5
-12.4 - 7 . 3
-15.1 -14.2

-5.7
-6.3
-4.9
-5.6
-8.7

-11.2
-11.7
-10.8
-10.2
-15.7

-27.5
-55.2
-30.4
-20.4
-24.2

-44.1
-39.0
-44.3
-47.9
-36.2

-5.5
-10.1
-6.4
-2.2
-9.2

-10.0
-8.9
-8.0
-10.7
-15.5

59.5
59.9
64.3
54.0
56.2

183.5
183.3
149.0
265. 0
193.2

19.1
18.6
28.2
11.2
12.0

-27.5
-32.1
-22.4
-26.3
-29.6

-36.4
-26.2
-38.5
-39.1
-29.1

98.1
118.7
112.8
88.1
66.7

348.7
370.9
299.0
462.5
310.8

5.6
3.9
7.4
6.1
1.8

-17.5
-14.0
-19.1
-17.4
-16.6

1.5
2.8

4.8
5.0

2.7
4.1

-1.0

3.7

8.7

1.0

5.6

-4.5
-2.5

-2.5
-2.2
10.9

12.2
15.5

-5.6
-8.4

-6.4
-22.2
17.6

28.4
-24.1

12.3

-1.3
-5.4
-4.8

95.6
115.3
91.0
71.7
78.1

226.4
262.9
216.8
154.0
194.2

31.7
32.9
29.3
25.4
32.8

-25.0
-29.0
-23.8
-14.0
-19.2

-23.1
-17.1
-21.9
-23.0
-28.7

133.8
86.7
105.4
174.0
212.2

435.8
379.3
339.6
312.8
604.0

12.8
11.5
11.1
21.7

-9.9
-7.9
-12.4
-12.2
-14.4

-9.0

4.2

3.9
1.0

14.9

7.9

4.3

-4.2

4.0

-16.9
8.8

8.5

8.9

1940-50
189.5

194.4

194.2

200.9

169.9

354.2

231.6

172.5

154.4

172.8

137.7

196.1

123.1

384.0

336.4

14.6

152.7

Northern-central regions..
New England
Mideast
Great Lakes
Plains

166.2
136.0
147.3
186.7
209.2

175.0
149.7
160.3
189.2
208.9

173.4
149.4
160.9
190. 0
198.8

182.1
155.6
167.5
199.8
215.8

139.5
110.8
112.5
170.6
197.7

317.1
224.0
282.9
354.2
465.0

215.5
180.3
203.4
230.6
274.3

151.3
129.2
140.0
163.2
181.4

115.0
107.7
117.9
113.9
114.1

118.2
102.4
141.3
97.1
94.2

112.6
111.9
98.5
125.0
130.9

199.3
159.4
135.5
178.6
245.7

98.8
57.9
69.6
148.4
181.8

311.9
299.6
317.7
295.0
343.8

298.6
267.7
269.3
329.3
382.1

11.0
10.3
11.2
14.2
4.5

139.9
114.2
122.3
150. 8
195.6

Southern-western regions
Southeast
Southwest
Rocky M ountain
Far West
,.

243.5
237.4
265.8
221.3
244.2

237.6
224.3
261.3
218.5
247.7

245.0
232.4
277.6
217.5
250.7

249.4
241.5
283.9
227.8
246.7

192.0
201. 5
252.4
123.9
76.8

423.5
339.2
554.2
561.1
450.8

297.4
280.1
358.6
275.6
307.1

220.8
217.2
248.8
206.8
214.1

224.7
193.8
249.5
176.2
271.9

250.5
199.9
291.6
196.4
343.4

193.6
184.5
199.0
153.2
210.3

193.0
181.6
187.4
222.6
216.1

192.7
191.9
209.5
208.6
183.3

539.6
702.6
631.2
323.0
403.1

423.3
458.8
505.3
443.3
356.1

20.0
11.8
17.1
16.0
49.2

185. 9
202.1
212.8
176.8
130.6

106.2

91.4

121.6

-13.8

78.4

76.4

175.0

16.6

44.8

108.9
90.8
106.6
117.9
108.3

-26.3
-19.9
-14.2
-20.9
-33.6

67.1
55.5
65.5
68.5
79.2

82.3
78.0
72.0
101.5
78.0

163.9
162.2
150.4
173.8
187.1

13.8
12.0
13.3
17.7
7.7

41.6
46.9
42.2
39.9
39.1

-14.7
-4.9
-5.0
-13.1
15.8

100.3
98.5
102.1
96.1
102.1

68.3
63.2
59.2
70.2
80.2

194.4
170.1
211.8
171.9
220.1

20.4
12.6
21.2
21.0
37.6

51.8
56.9
46.5
41.0
42.2

United States

1950-59
United States

68.8

68.4

76.3

72.0

22.4

72.6

75.2

70.9

Northern-central regions
New England
M ideast
Great Lakes
Plains

61.1
64.6
61.1
64.6
49.8

60.3
64.4
61.8
63.3
45.7

66.6
66.8
63.6
68.9
70.8

62.9
62.7
59.8
65.8
65.9

-3.3
91.7
-29.3
11.0
50.0

68.8
75.8
61.4
79.1
60.8

62.8
55.0
58.6
64.6
88.4

63.1
66.7
62.4
65.8
56.6

98.9
100.8
93.8
102.4
107.2

86.2
113.5
80.9
75.9
105.7

Southern-western region!
Southeast
Southwest
Rocky M ountain
Far West

82.7
76.6
77.5
70.5
95.7

83.1
76.3
77.5
68.4
98.0

94.9
89.4
91.5
87.1
105.0

90.9
84.8
85.6
81.4
103.0

37.5
15.9
58.7
54.5
41.1

78.3
84.3
61.1
76.3
81.8

115.1
89.2
132.7
115.6
145.7

84.8
86.9
79.3
75.0
87.1

114.8
112.1
120.5
114.5
115.1

95.9
97.9
107.0
96.8
86.5

142.0
135.0
141.6
137.8
150.4

1959-69
92.4

90.3

93.5

88.4

32.2

97.7

81.9

93.3

122.5

84.4

157.6

23.2

97.0

149.3

229.4

13.6

69.2

Northern-central regions.
New England
Mideast
Great Lakes
Plains

84.2
91.3
81.4
85.2
84.3

82.5
86.2
79.5
84.3
84.2

83.8
87.3
80.1
85.7
88.3

79.2
85.4
74.1
81.7
83.7

19.8
40.8
30.5
26.7

92.7
103.9
77.0
108.0
89.3

70.6
67.0
60.2
76.8
92.3

85.1
100.0
84.5
83.6
79.9

117.2
100.0
119.4
121.2
115.1

71.9
47.2
76.6
74.0
72.8

149.3
145.0
157.1
143.4
144.7

41.5
12.1
24.9
39.9
51.4

90.6
111.9
87.0
90.9
84.7

132.4
133.6
137.7
127.1
127.9

212.1
219.5
202.6
218.0
222.0

10.2
12.4
10.2
11.1
6.6

67.1
70.1
64.5
66.7
72.9

Southern-western regionsSoutheast
Southwest
Rocky Mountain ._ . .
Far West 2

105.1
112.1
99.2
85.8
103.3

102.5
108.2
95.4
83.9
102.5

109.1
116.2
104.4
89.9
106.5

104.7
113.0
102.3
80.3
100.3

37.4
39.0
27.8
48.3
66.2

104.6
133.1
115.9
61.8
78.3

109.5
123.9
128.0
88.4
89.8

106.1 128.2
108.2 129.8
101. 3 112.8
83.7 128.7
109.8 133.9

94.4
98.4
83.7
113.1
92.2

169.0
172.2
152.1
145.9
176.9

9.7
9.9

-11.3
27.7
20.6

107.3
127.0
108.1
90.7
90.7

174.6
169.2
176.5
140.8
186.3

256.1
276.7
244.3
240.0
243.0

18.1
14.0
17.7
17.0
26.0

76.0
86.1
69.2
58.9
61.4

United States.

4.1

1969-77
105.7

93.4

94.6

93.2

199.7

81.4

76.7

103.2

101.6

71.1

121.6

53.7

114.5

214.0

132.5

7.5

91.4

Northern-central regions..
New England
Mideast
Great Lakes
Plains

91.2
87.6
84.0
94.3
107.8

79.5
76.3
71.5
83.4
96.2

80.2
76.8
72.0
83.6
100.8

77.4
74.7
67.9
81.1
100.7

157.1
156.9
153.9
172.6
135.2

50.0
31.9
38.5
48.7
99.9

66.8
61.8
50.9
76.3
89.8

88.3
90.5
81.2
90.0
106.3

96.6
89.9
93.3
101.7
101.4

70.1
48.4
74.0
67.3
76.2

109.6
111.2
104.9
113.2
113.8

52.5
20.6
77.8
49.6

97.6
87.9
86.3
101.0
132.6

201.9
201.3
200.3
210.6
186.7

116.6
115.3
104.7
120.3
145.2

2.4
4.3
.8
2.9
4.2

90.4
79.8
82.5
88.9
99.4

Southern-western regions
Southeast
Southwest
Rocky Mountain
Far West 2

126.0 113.1
128.1 113.6
141. 7 129.9
142.6 134.1
113.4 101.5

115.3
116.4
133.1
144.4
101.5

117.5
118.0
137.9
152.4
102.6

215.1
213.9
223.8
251.4
151.4

122.2
106.5
152.9
193.2
114.1

96.3
102.3
118.2
139.9
76.0

123.8 106.6
125.8 110.1
136.0 114.3
143.0 119.1
113.3 97.0

71.8

136.9
143.8
154.3
149.3
121.6

54.9
44.9
40.0
-9.5
103.8

139.6
138.2
160.7
147.8
128.6

229.3
249.4
228.7
219.1
206.4

154.1
159.0
171.9
169.8
138.5

13.5
12.3
17.1
19.6
12.1

103.9
103.1
106.3
102.9
108.7

United States

1. Sum of transportation, communication, and public utilities; wholesale and retail trade;
finance, insurance, and real estate; and services.




Ikl
87.6
62.6

2. Includes Alaska and Hawaii.

6.1

October 1978

SUKVEY OF CURRENT BUSINESS

30
As in the forties, each southernwestern region had a growth advantage.
In the Southeast, Southwest, and Far
West, the advantage reflected strength
in government and manufacturing. The
former was partly due to the growth in
Federal expenditures for military in-

stallations during the "cold war." In
the Southeast, strength in manufacturing was in textiles, apparel, and the
metal products industries. In the
Southwest, it was in industries, such as
petrochemicals, for which the region's
petroleum and natural gas were im-

Table 3.—Percent Distribution of Total Personal Income for BEA Regions,
Selected Years

1959-69

Labor and proprietors' income
Nonfarm
Total
personal
income

Government

Private

ConManu- ServiceMining struction facturing type 1 Federal

Farm

Prop- Transfer
payerty
income ments

State
and
local

1929
100.0

1.9

4.3

19.6

36.8

1.5

4.2

8.7

21.5

1.7

Northern-central regions.
New England
Mideast
Great Lakes
Plains

100.0
100.0
100.0
100.0
100.0

1.3
.2
1.7
1.0
1.2

4.6
4.8
4.7
4.7
3.5

22.2
27.0
20 8
26.4
11.3

36.2
33.1
36.9
35.3
39.0

1.3
1.3
1.6
.9
1.5

4.0
4.0
3.8
4.3
4.5

6.0
2.7
2.1
6.4

22.9
25.4
26.9
19.4
15.3

1.7
1.7
JL.6
1.7
2.2

Southern-w e s t e r n
gions
Southeast...
Southwest..
Rocky Mountain..
Far West

100.0
100.0
100.0
100.0
100.0

3.5
3.3
6.3
7.1
1.2

3.6
3.0
4.2
2.8
4.1

12.7
14.8

38.3
36.4
38.3
38.6
40.8

2.2
2.3
2.0
2.8
1.9

4.4
4.2
4.1
4.9
4.8

16.0
19.8
18.9
17.4
8.9

17.8
14.5
16.9
15.2
23.2

1.8
1. 9
1.7
1.9
1.7

United States

7.7
9.5

13.5

21.7

1950
United States_

100.0

1.6

4.9

23.9

35.4

4.8

4.6

7.2

12.1

6.7

Northern-central regions.
New England
Mideast
__.
Great Lakes
Plains

100.0
100.0
100.0
100.0
100.0

1.0
.1
1.2
.9
1.0

4.6
4.5
4.7
4.5
4.8

28.5
32.3
27.5
34.0
14.6

35.3
32.7
37.9
33.0
35.4

3.5
3.6
4.5
2.5
3.2

4.4
4.8
4.5
4.2
4.4

5.6
2.3
1.8
5.2

12.5
14.0
13.1
11.7
11.6

6.0
6.8
6.6
5.1
6.3

Southern-we stern
gions
Southeast
Southwest
Rocky Mountain
Far West

100.0
100.0
100.0
100.0
100.0

2.9
3.0
6.0
3.9
.7

5.5
4.8
6.0
6.1
6.1

15.7
18.2
10.5

35.6
32.9
36.1
36.0
38.8

7.1
7.4
7.2
6.7
6.8

4.9
4.6
4.6
5.0
5.5

10.1
11.4
11.9
15.4
6.3

11.5
10.1
11.7
11.5
13.1

7.8
8.4
7.2
7.2
7.4

9.5

16.7

20.1

1969

100.0

.8

5.2

23.4

36.0

5.3

8.1

2.4

13.1

9.0

Northern-central regions.
New England
Mideast
Great Lakes__
Plains

100.0
100.0
100.0
100.0
100.0

.4
.1
.3
.4
.7

5.0
5.1
4.6
5.5
5.2

26.7
26.5
23.9
32.5
19.2

35.9
34.6
38.9
33.0
36.1

3.8
3.6
4.9
2.5
4.1

7.8
7.1
8.1
7.4
8.2

2.0
.6

.7

1.9
7.3

13.4
14.7
13.8
12.3
13.9

8.6
9.0
9.2
7.79.2

Southern-w e s t e r n
gions
.._
Southeast
Southwest
Rocky Mountain..
Far West 2

100.0
100.0
100.0
100.0
100.0

1.4
1.3
3.4
2.8
.4

5.4
5.6
5.9
5.5
5.0

18.8
20.6
15.7
12.1
19.2

36.1
34.1
36.9
36.5
38.1

7.5
7.7
7.8
8.8
6.8

8.5
7.8
7.9
9.2
9.6

2.9
3.2
2.8
5.4
2.2

12.7
12.1
13.9
13.6
12.5

9.5
9.8
9.0
9.3
9.5

United States.

1977
United States.

100.0

1.2

4.6

20.1

35.6

4.4

8.7

1.8

13.7

13.8

Northern-central regions
New England
Mideast...
Great Lakes..
Plains

100.0
100.0
100.0
100.0
100.0

.5
.1
.4
.6
.8

3.9
3.6
3.4
4.2
5.1

23.3
22.9
19.6
29.5
17.5

35.4
35.2
38.3
32.2
35.8

3.4
2.9
4.7
2.1
3.4

8.5
8.0
9.1
8.1
8.4

1.6
.4
.4
1.7
5.3

13.8
14.7
14.0
12.8
15.6

13.6
14.5
15.0
12.3
12.7

Southern-western regions
Southeast
Southwest
Rocky Mountain
Far West 2

100.0
100.0
100.0
100.0
100.0

2.0
1.8
4.6
4.1
.5

5.3
5.0
6.1
6.7
5.0

16.3
18.3
14.2
12.0
15.8

35.8
33.8
36.0
36.5
38.0

5.7
5.9
5.6
6.8
5.2

9.0
8.4
8.3
9.5

2.0
2.0
1.6
2.0

10.0

2.1

13.4
12.7
15.0
13.9
13.4

13.9
15.1
12.2
12.2
13.7

NOTE.—See footnotes in table 2. Rows do not sum to 100 percent because contributions to social insurance are included in
l abor and proprietors' income (columns 2-8) but not in total personal income, and because forestry, fisheries, and other income
and the residence adjustment are included in total personal income but are not shown separately.




portant raw materials, and in the Far
West, it was in aircraft and related
metal products industries, partly due
to the growth in Federal defense expenditures. In the Rocky Mountain
region, the growth advantage reflected
strength in government and mining,
which more than offset a decline in
farming.
In 1959-69, when income growth
accelerated nationally, the growth disadvantage of the northern-central
regions declined to 8.9 percent and the
growth advantage of the southernwestern regions declined to 13.7 percent. As in the fifties, each northerncentral region had a growth disadvantage. In the New England, Mideast,
and Great Lakes regions, the disadvantage reflected continuing weakness
in manufacturing. In New England,
the weakness in manufacturing was
nearly offset by strength in service-type
industries, which was partly due to
strong growth in the demand for professional services, such as research and
development, supplied by the region's
highly educated work force. In the
Mideast, the weakness in manufacturing was partly offset by near-average
growth in financial services and in
State and local government. The former
reflected both expansion in employment
in head offices of corporations and
related business and professional activities, as well as booming conditions
in the securities industry. In the Plains,
the weakness in most income components was partly offset by strength in
farming, which reversed its decline of
the fifties, and in metal products
manufacturing.
In the southern-western regions, the
income growth advantage reflected advantages in the Southeast, Southwest,
and Far West that more than offset a
growth disadvantage in the Rocky
Mountain region. In the Southeast,
Southwest, and Far West, the advantage reflected strength in service-type
industries and manufacturing. In the
Southeast and Southwest, manufacturing strength was mainly in apparel and
metal products, and in the Southeast in
textiles; in the Far West, manufacturing
strength was in machinery and primary

SURVEY OF CURRENT BUSINESS

October 1978

metals, and it would have been even
greater but for a slump in aircraft in the
late sixties. In the Rocky Mountain
region, the disadvantage reflected weakness in farm-related construction and
service-type industries that resulted
from low levels of farm income during
much of the sixties.
1969-77
Rapid nominal income growth nationally due to high rates of inflation,
and sharp cyclical fluctuations characterized the 1969-77 timespan. The income growth disparities increased: The
disadvantage of the northern-central
regions increased to 13.7 percent, and
the advantage of the southern-western
regions increased to 19.2 percent. In the
northern-central regions, the growth
disadvantage reflected disadvantages in




the New England, Mideast, and Great
Lakes regions that more than offset a
growth advantage in the Plains. In the
New England, Mideast, and Great
Lakes regions, the disadvantage partly
reflected weakness in service-type industries and State and local government.
The weakness in service-type industries
was partly due to the dispersal of
corporate head offices and of related
business and professional services toward growing southern-western markets, and to slow growth in the construction and securities industries,
which resulted in the slow growth of
financial services. The weakness in
State and local government reflected
fiscal crises, which occurred during the
1974-75 recession. New England and
the Mideast showed weakness also in
manufacturing. The Great Lakes re-

31
gion, in contrast, had near-average
growth in manufacturing. In the Plains,
the advantage reflected strength in
farm-related manufacturing and service-type industries that resulted from
high levels of farm income.
Each southern-western region had an
income growth advantage, which reflected strength in construction and
service-type industries. The Southeast
and Rocky Mountain regions showed
strength in coal mining also, due to
increases in production following the
Arab oil embargo of 1973-74. These
regions, as well as the Southwest,
showed strength in manufacturing,
partly reflecting their relatively cheaper
energy. The Far West, in contrast, had
only near-average growth in manufacturing, due to the incomplete recovery
from the slump in the aircraft industry
in the late sixties and early seventies.

State Personal Income, 1975-77
Tables 4-63 present State personal income by type and by
industry for 1975-77. Summary tables 1 and 2 presenting State
personal income and per capita personal income, 1972-77, were in
the August 1978 issue of the SURVEY OF CURRENT BUSINESS.
State and regional estimates were prepared in the Regional
Economic Measurement Division under the direction of Edwin J.
Coleman. Staff members participating were Kathy A. Albetski,
David A. Albright, Wallace K. Bailey, Linda C. Barnes, Timothy
A. Bell, Brian A. Bergstralh, Kenneth P. Berkman, Mildred S.
Burnett, Carl J. Carlson, Sharon C. Carnevale, Vivian G. Conklin,
Q. F. Dallavalle, Carol E. Evans, Richard H. Grayson, Linnea
Hazen, Eunice P. James, Charles A. Jolley, Gary V. Kennedy,
Katharine R. Levit, Robert J. McCahill, Alan J. Millican, Kevin
F. Neyland, Kevin O'Brien, Jeanne O'Neill, Michael G. Pilot,
Toui Pomsouvan, Elizabeth H. Queen, John M. Reed, William
Reid, David P. Roth, Victor Sahadachny, Stuart A. Schwartz,
David C. Warlick, and James M. Zavrel.

SUEVEY OF CURRENT BUSINESS

32

October 1978
Tables 4-15.—Personal Income
[Millions of

Table 4.—United States

Table 5.—New England Table 6.—Connecticut

Table 7.—Maine

Table 8.—Massachusetts

Item

Line

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

950,902

1,049,209

1,163,252

53,310

58, 494

64,419

15,155

16,360

18,171

3,672

4,244

4,550

26,027

28,390

31,156

799,877
65,094
85,931
22,422
63,509

883,928
76,977
88,304
18,134
70,170

973,945
90,383
98,924
19,394
79,530

45,911
3,848
3,551
173
3,378

50,019
4,474
4,001
289
3,713

54,783
5,219
4,417
185
4,231

13,010
1,139
1,006

13,991
1,311
1,058

15,435
1,528
1,208

3,041

3,457

3,727

28
978

27

33

1,031

1,175

256
375
56
319

306
481
135
346

355
468
75
394

22,675
1,858
1,494
24
1,470

24,530
2,135
1,725
35
1,690

26,739
2,487
1,930
9
1,921

25,045
1,024,164

26,730
1,136,522

317
52,992

446
58,048

365
64,C53

75

79

92

85

166

111

922,2C6

15,080

16,281

18,079

3,587

4,078

4,439

65
25,961

81
28,309

61
31,095

749,128
3,410

838,072
3,909

937, Of 2
4,2c 3

44,624
219

49,158
249

54,515

13,090

14,232

15,868

2,841

3,284

3,598

49

51

54

34

43

45

21,816
103

23,856
118

26,321
125

2,842
568
13,455
4,457
5,781
1,525
1,692
55,298

3,152
757
15,689
4,443
7,870
1,627
1,749
61,029

3,457
776
18,070
4,946
9,516
1,733
1,875
69,525

149
70
51

156
93
51

163
99
82
)

47
2
18

49
2
17

52
2
45

12
22
3

12
31
3

12
32
3

65
38
13

1

7

(D)
2
1
251

Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products.
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco manufactures
Rubber and miscellaneous plastics
products.
Leather and leather products

239,729
88,520
19,993
7,436
8,830
8,885
13,187
16,259
3,892
937
7,202

271, 550
99,991
22,082
8,671
10,209
10,344
14,434
18,201
4,437
1,032
8,388

1,899

Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment.
Transportation equipment except
motor vehicles.
Motor vehicles
and equipment
Ordnance 5
Stone, clay, and glass products. _.
Instruments and related products.
Miscellaneous manufacturing industries.
Transportation and public utilities...
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation
Communication
Electric, gas, and sanitary services-.
Wholesale trade
Retail trade
Finance, insurance, and real estate. _.
Banking
Other finance, insurance, and real
estate.
Services
Hotels and other lodging places
Personal services
Private households
Business and repair services.
Amusement and recreation including motion pictures.
Professional, social, and related
services.
Government and government enterprises.
Federal, civilian
Federal, military
State and local

Income by place of work
Total labor and proprietors' income

l

By type

Wage and salary disbursements..
Other labor income
Proprietors' income 2
Farm
N onfarm 2
By Industry 3

9
10
11
12
13
14
15
16
17
18
19
20
21

22 i
23
24

25 i

26 |
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

Farm
Nonfarm..
Private
Agricultural services, forestry, fish
eries, and other.*
Agricultural services
Forestry,fisheries,and other *_
Mining
Coal mining
Oil and gas extraction
Metal mining
Nonmetallic minerals, except fuels..
Construction

46
2,775

45
2,851

51
3,139

16
778

2
(D)
15
744

305,272
110,088
23.859
9,315
10,787
11,536
15,864
20,308
4,953
1,096
10,137

16,109
5,195
665
573
455
829

17,988
5,854
734
664
521
967
979
641
50

20,123
6,354
773
708
546
1,081
1,070
697
57

5,461
1,177

5,979
1,297

6,611
1,416

143
100
85
108
245
250
(D)
(D)
203

165
114
93
134
269
269
23
(D)
211

173
118
96
149
296
298
22
(D)
242

2,193

2,233

421

501

514

12

151,209
6,740
3,903
19,347
19,757
30,076
22,343
14,819

171,559
8,291
4,491
21,809
22,231
32,817
25,084
15,796

195,184
9,545
5,019
24,717
24.860
37,109
28,477
17,385

10,914
253
190
628
1,665
2,246
2,092
1,741

12,134
302
204
709
1,859
2,422
2,341
1,910

13,769
335
217
758
2,014
2,901
2,654
2,141

14, 777

19,126

23,393

114

138

181

26

8,170
7,247
4,030

9,190
8,163
4,561

10,291
9,457
4,931

354
993

386
1,127
736

431
1,327
809

104
262
130

70,191
8,543
16,153
2,854
11,373
19,321
11,947
63,856
97,684

78,479
9,557
18,180
3,116
12,670
21,689
13,267
69,673
107,290

87,510
10,337
20,648
3,461
14,190
24,230
14,644
76,487
117,927

3,209
197
720
54
433
1,166
639
3,189
5,599

3,515
226
786
62
482
1,265
694
3,457
6,015

3,911
244
880
69
561
1,403
753
3,807
6,543

785
49
170
(DD)
()
272
185
877

859
60
185
(DD)
()
297
195
965

1,437

1,541

49,655
14,082
35,573

57,289
15,438
41,851

64,738
16,904
47,834

3,277
887
2,390

3,682
961
2,722

4,113
1,038
3,074

1,086

1,219

1,370

217
868

238
981

1,111

155,850
5,399
7,595
5,728
29, 241
6,087

173,164
6,120
8,214
6,406
33,187
6,918

193,290
6,611
8,907
7,047
37,759
7,710

10,196
248
409
294
1,611
252

11,350
289
438
329
1,824
279

12,537
309
474
362
2,047
302

2,599

2,857

3,207

37
111
98
431
62

41
117
109
493
76

101,800

112,319

125,256

7,381

8,191

9,043

1,860

173,078
41,780
17,906
113,392

186,092
45,079
18,352
122,661

199,470
48,180
19,035
132,255

8,368
1,679
571
6,119

8,890
1,803
574
6,512

9,538
1,932
595
7,011

1,989

950,902

1,049,209

1,163,252

53,310

58,494

55,139

60,607

2,820

3,061

()

47
8
692

()

()

(D)

(E>)

18
852

(D)

(D)

71
54
16

()

2
1
335

1
1
313

()
13
1,282

(
13
1,252

948 1,110
610
721
(E>)
87

1,247

7,161
2,536
338
261
296
354
477
293
(D

7,928
2,830
366
299
340
407
519
296
(D

(I>)
(D)

806

(D)

(E>)

239
(D)
12
2
(*)
33

26
279
33
14
3
(*)
39

29
321
36
16
3
(*)
40

()

307

()

362

(
14
1,356
3,026
379
316
355
447
563
317

()

400

D

()

D

()

122

153

164

191

217

217

4,284

4,682

5,195

20
56
315
815
835
498

23
60
356
911
871
562

25
64
364
986

1,316

1,438

389
139
9
5
47
34
56
58

441
155
11
6
50
44
65
71

4,625
44
85
185
644
1,048
1,166

1,223

338
118
7
4
40
29
47
56

5,099
54
86
202
706
1,146
1,265
444

5,884
60
90
237
772
1,355
1,435
509

28

27

11

11

9

64

83

125

110
301
146

124
334
162

15
4
8

17
5
9

18
5
9

150
613
229

166
685
261

182
833
284

974
65
213

243
41
60
7
16
76
43
203
426

273
46
68
10
18
86
46
224
464

297
49
74
9
20
96
49
246
511

1,707
79
361
(D
()
642
313
1,672
2,775

1,859
89
394
(
()
687
342
1,780
2,965

2,075
96
441
(
()
768
372
1,944
3,209

151
51
100

174
56
118

197
61
136

1,628
492
1,136

1,808
523
1,285

1,995
559
1,436

45
128
120
597
84

583
29
28
29
59
11

658
34
30
33
66
12

740
36
33
36
75
14

5,473
108
200
114
936
125

6,131
125
217
128
1,049
134

6,691
132
233
141
1,126
146

2,021

2,233

427

483

546

4,478

4,913

2,049

2,211

319
143

310
146

353
159

1,528

1,594

1,699

746
214
106
426

793
240
98
455

841
248
100
494

4,146
845
188
3,112

4,453
924
190
3,339

4,774
990
193
3,590

64,419

15,155

16,360

18,171

3,672

4,244

4,550

26,027

28,390

31,156

3,333

816

873

960

203

229

239

1,299

1,403

55,433

61,085

14,338

15,487

17,211

3,470

4,015

4,311

24,727

1,036

634

(D)
(D)

334
213
1,078
1,678

258

Derivation of personal income by
place of residence

Total labor and proprietors' income by
place of work.
Less: Personal contributions for social
insurance by place of work.
Net labor and proprietors' income by
place of work.
Plus: Residence adjustment
Net labor and proprietors' income by
place of residence.
Plus: Dividends, interest, and rent 7
Plus: Transfer payments
Personal income by place of residence
Per capita income (dollars) _ _.
Total population (thousands) _

50,193

994,070

1,102,645

50,489

6 -269
900,440

e -326
993,744

6 -380
1,102,265

1,024
51,513

1,081
56,514

1,158
62,243

765

804

850

-30

-31

-25

15,103

16,291

18,061

3,439

3,984

4,286

-132
24,595

-133
26,853

-147
29,487

169,840
178,166

186,728
193,915

207,301
208,824

10,566
11,415

11,623
12,028

12,922
12,767

3,375
2,602

3,621
2,774

4,027
2,967

659
744
825
944 1,023 1,109

4,893
5,845

5,456
6,105

6,059
6,419

1,248,446

1,374,387

1,518,390

73,493

80,164

87,932

21,079

22,687

25,055

5,042

5,750

6,221

35,333

38,414

41,964

5,861
213,020

6,403
214,656

7,019
216,320

6,030
12,187

6,568
12,205

7,183
12,242

6,799
3,100

7,313
3,102

8,061
3,108

4,766
1,058

5,367
1,071

5,734
1,085

6,077
5,814

6,633
5,791

7,258
5,782

*D Less than $500,000.
Not shown to avoid disclosure of confidential information; data are included in totals.
1. Consists of wage and salary disbursements, other labor income, and proprietors' income.




1,523
29,633

900,709

2. Includes the capital consumption adjustment for nonfarm proprietors.
3. Estimates based on 1972 Standard Industrial Classification.
4. Includes wages and salaries of U.S. residents working for international organizations.

SURVEY OF CURRENT BUSINESS

October 1978

33

by Major Sources, 1975-77
dollars]
Table 10.—Rhode Island

Table 9.—New
Hampshire

Table 11.—Vermont

Table 12.—Mideast

Table 13.—Delaware

Table 14.—District of
Columbia

Table 15.—Maryland

1975

1975

1976

1977

1975

1976

1977

1975

1976

1977

Line

1975

1976

1977

1975

1976

1977

1975 1

1976

1977

2,980

3,416

3,884

3,760

4,165

4,559

1,716

1,920

2,099 208,049 223,180 242,131

3,023

3,282

3,522

8,644

9,591

10,443

18,376

20,083

21,775

1

2,535
214
231
14
217

2,883
265
267
17
250

3,262
319
303
14
289

3,244
265
251
2
249

3,608
321
235
3
232

3,920
373
266
3
263

1,407
116
193
49
144

1,550
135
236
71
164

1,700 180,409 193,326 208,533
158 14,022 16,004 18,375
242 13,617 13,851 15,224
843
766
631
51
190 12,851 13,008 14,593

2,586
220
218
79
139

2,804
263
215
75
140

3,010
304
208
49
159

8,076
407
161

8,941
474
177

9,712
534
197

161

177

197

15,953
1,102
1,320
144
1,176

17,333
1,298
1,452
155
1,297

18,736
1,491
1,548
77
1,471

2
3
4
5
6

20
2,959

24
3,392

22
3,862

3,753

8
4,157

9
4,550

65
1,651

89
1,831

1,402
1,277
1,226
71
2,028 206,771 221,778 240,906

90
2,933

86
3,196

61
3,461

(*)
8,644

(*)
9,591

(*)
10,443

200
18,176

224
19,859

2,458
9

2,850
11

3,274
11

3,067
16

3,421
18

3,765
19

1,515
8

1,688 167,718 180,687 197,251
624
667
8
588

2,472
9

2,708
9

2,948
9

4,112
59

4,484
65

4,976
72

9
10

9
2
6

9
2
6

10
6
2

10
8
2

11
9
2

8

9
1
6

8

2
63
3

2
70
3

(*)
(*)

P)(*)
9

2
57
2
C)

2

2

13,094
58
53
5
26
12
1

14,416
62

8
1
6

1,352
7
7
(*)
9

145
21,629
15,855
64

297

1
278

1
251

13
1,243

10
1,343

56
7
24
14
1
C)
9
1,482

11
12
13
14
15
16
17
18

3,084
1,167
329
14
120
114
245
201
17
(*)
115

3,396
1,281
353

3,747
1,413
386

134
132
270
216
18
(*)
127

144
142
310
242
17
(*)
144

19
20
21
22
23
24
25
26
27
28
29

(D)

30

(*)
(•)
(*)

5
185

(*)
(*)
(*)

6
215

(*)
(•)
(*)

(D)

(*)

(*)

1,176
390

2
189
1,375
441

1,521
470

122
30
31
67
43

130
32
34
72
46

(*)
81

(*)
87

6
271

903
364

1,080
432

1,254
491

19
77
9
1
C)
64

23
89
53
11
1

25
97
61
11
1

83

113

2
178

108
26
60
39
(*)
C)
73

73

90

91

19

539
39
14
31
59
145
156
6

648
47
16
36
77
172
184
7

763
51
17
40
80
242
197
8

786
4
9
88
98
114
93
33

(D)

933
5
11
105
109
123
116
61

2
211

9
101

459
117
24
8
24
35
6
%

(D)

1,050
5
11
105
116
137
140
88

C)

7

8

9

9
|:|

10
135

116
516
132
26
5
10
29
38
8
(*)

581
145
28
6
10
33
41
8

14

16

1976

1977

458
130
1,207
816
125
63
202
9,982

471
153
1,224
787
181
66
189
9,963

501
166
1,331
849
218
66
197
10,907

52,497
21,595
3,658
1,240
3,180
1,785
3,992
5,013
936
95
1,229

57,015
23,591
3,944
1,303
3,518
2,014
4,276
5,477
1,017
1,424

3

3

3

471

341
28
19
4
8
75
132
27

384
34
23
5
10
76
158
25

436
38
24
6
11
86
184
27

30,901
436
559
3,677
5,789
5,376
1,730

(*)
(*)

5

C)

(*)

197

5
(*)
(*)
206

(*)
216

62,485
25,615
4,187
1,359
3,646
2,254
4,636
6,119
1,145

1,134
881
73

1,249
935
81

1,375
1,021
81

263
233
19

277
247
19

281
250
19

13
22
662

36
16
24
686

12
48
26
763

5
198
6

5
213
6

1
6
213
7

1,633

43

C)

4

7

(•)

(*)

(*)
(*)

(D)

(D)

6

6

4

33,423

36,869

253

314

354

30

30

31

585
6,112
4,017
6,092
5,774
1,770

636
6,715
4,296
6,712
6,247
2,025

2
26
23
11
4

29
23
14
4

3
3
5
5
8

2
3
7
3
6

6
3
5
6
4

25
25
8
3

C)

12

C)

(*)

56
6
23
12
1

(D)

8

1,917
37
32
560
162
200
360
182

2,115
45
37
618
175
211
405
184

2,335
52
41
666
196
231
459
188

31
32
33
34
35
36
37
38

13

16

19

190

226

274

25
52
12

29
65
14

34
78
16

31
48
255

34
57
298

39
61
328

29
14
6

31
15
8

33
18
9

2,012
2,908
1,256

2,189
3,135
1,388

2,389
3,463
1,483

8
20
1

9
25
1

10
32
1

3
1
1

3
2
1

3
2
1

134
29
31

146
33
35

151
37
38

39
40
41
42
43

174
7
44

192
7
49

213
8
55
91
45
198
461

215
12
59
6
22
69
47
251
458

111
12
31
1
8
38
21
77
191

123
12
35
1
9
42
24
85
207

136
13
39
1
10
46
26
91
226

16,142
1,470
3,221
1,031
2,993
4,799
2,629
14,112
19,642

17,799
1,678
3,492
1,092
3,271
5,385
2,880
15,103
20,887

19,607
1,815
3,881
1,186
3,597
5,953
3,175
16,240
22,213

192
33
47
8
18
42
45
128
325

207
36
49
9
19
46
49
148
334

518

81
42
170
411

208
11
55
5
19
72
45
233
427

166

73
38
152
369

189
9
53
5
18
65
39
208
402

571
47
15
1
139
288
80
226
448

632
51
14
1
155
325
86
239
471

1,122
138
289
92
83
313
206
1,012
2,215

1,258
155
330
96
97
355
226
1,130
2,409

1,424
168
369
100
111
418
258
1,241
2,567

44
45
46
47
48
49
50
51
52

142
40
102

173
45
128

201
50
151

199
61
138

223
70
153

252
77
175

71
26
45

85
29
56

98
32
66

13,821
4,219
9,602

15,273
4,549
10,724

16,687
4,864
11,822

454

898
195
703

1,024
210
814

1,151
233
918

53
54
55

518
30
25
19
63
24

592
37
28
21
77
26

659
39
31
24
90
28

695
8
33
17
97
21

747
11
33
19
110
22

836
12
35
21
126
22

327
35
12
17
24
7

366
41
13
19
28
8

403
45
15
20
32
8

39,727
976
1,560
1,295
7,948
1,390

42,800
1,048
1,629
1,448
8,643
1,508

355

401

448

519

551

620

231

257

283

26,559

502
97
65
340

542
107
66
369

587
116
66
406

687
146
57
484

736
159
61
515

785
162
63
560

299
58
13
228

316
63
13
240

340
63
15
262

39,053
11,263
1,670
26,120

2,980

3,416

3,884

3,760

4,165

4,559

1,716

1,920

183

207

234

236

258

279

83

92

2,797

3,208

3,650

3,524

3,907

4,280

1,633

332
3,129

341
3,550

365
4,015

122
3,646

153
4,432

632
637

708
683

793
739

674
996

135
4,042
727
1,020

4,398

4,940

5,547

5,316

5,417
812

5,974
827

6,536
849

5,709
931

C)

C)

C)

1

(*)

(*)

(D)

(D)

(D)

(D)

8
16
37
41
124
302
131

(P)

142

154

(D)

(D)

(D)

1
126
255
76
215
422
385

421

(D)
(D)

(D)
(D)

47,114
1,087
1,735
1,593
9,741
1,620

404
(D)
(D)

(D)

28,524

31,337

(D)

41,091
12,180
1,715
27,196

43,654
13,081
1,724
28,849

461
80
63
318

488
83
65
340

513
89
64
360

4,531
3,559
241
731

5,107
4,052
254
802

2,099 208,049 223,180 242,131

28
63
16

450
10
31
73
15

(D)

(D)
(D)

498
10
(D)

35
82
16

(D)

(D)
(D)

(D)
(D)

(D)
(D)

1,951

2,194
79

2,573
88

(D)

(D)

3,437
62
158
121
776
96

3,772
66
171
135
858
104

4,156
68
182
149
971
113

56
57
58
59
60
61

(D)

2,224

2,438

2,673

62

5,467
4,408
248
811

5,082
2,204
471
2,407

5,443
2,319
465
2,659

5,774
2,409
473
2,892

63
64
65
66

(D)
D

78
274
26

(D)

87
297
27

(D)

95
344
27

3,023

3,282

3,522

8,644

9,591

10,443

18,376

20,083

21,775

67

12,613

157

169

181

490

537

574

1,031

1,117

1,203

68

1,829

2,000 197,036 211,450 229,518

2,867

3,113

3,341

8,154

9,869

17,345

18,966

20,571

69

-33
1,600

-34
1,794

- 3 8 -2,968 -3,214 -3,476
1,962 194,069 208,236 226,043

-110
2,757

-120
2,993

811
1,088

333
391

367
423

44,620
47,670

591
445

666
477

742
523

856
1,140

987
1,223

5,789

6,332

2,324

2,584

2,814 272,288 293,007 318,332

3,793

4,135

4,477

5,167

6,187
936

6,775
935

4,924
472

5,414
477

5,823
483

6,547
579

7,107
582

7,697
582

7,262
712

100

408
445

11,012

37,686
40,533

6,380
42,681

11,731

40,466
44,305

6,878
42,602

5. Under the 1972 SIC Code, ordnance was reclassified to four 2-digit industries: fabricated
metal products, electric and electronic equipment, transportation equipment, and instruments and related products.




(D)

7,499
42,449"

9,055

3,072
20,417

3,460
22,426

3,778
24,349

70
71

1,115
1,300

2,784
3,190

2,943
3,486

3,224
3,765

72
73

5,685

6,210

26,391

28,855

31,337

74

8,120
700

8,999
690

6,403
4,122

6,995
4,125

7,572
4,139

75
76

-128 -4,984 -5,579 -6,074
3,212
3,170
3,795
3,475

6. Adjustment for border workers: income of U.S. residents working across U.S. borders
less income of foreign residents working in the U.S.
7. Includes the capital consumption adjustment for rental income of persons.

October 1978

SURVEY OF CUREENT BUSINESS

34

Tables 16—27.—Personal Income
[Millions
Table 16.—New Jersey
Line

Table 17.—New York

Table 18.—Pennsyl-

Table 19.—Great Lakes

Table 20.—Illinois

Item
1975

1976

95,525 102,781

52,985

57,583

79,392
5,814
5,473
217
5 256

83,526
6,587
5,412
251
5 161

89,402
7,501
5,878
130
5 748

44,948
4,007
4,030
284
3 746

109
40,557

410
90,269

351
438
95,087 102,430

31,108
111

34,245
120

74,165
241

78,874
251

99
12
46

108
12
48

3

3

183
58
175
3
67
36
70
3,489

184
67
180
2
73
36
70
3,254

19,857
8,408
1,329
501
1,690
640
2,151
1,227
286
48
297

1975

1976

1977

1975

34,342

37,117

40,666

90,679

29,456
2,471
2,415
42
2 373

31,939
2,833
2,345
50
2 294

34,751
3,298
2,616
35
2 581

103
34,239

117
37,000

28,840
103
95
8
46
1
1
6
39
1,727

1976

1977

1975

1976

1975

1976

1977

62,944 192,789 214,383 237,157

58,565

63,517

66,892

48,783
4,549
4,250
312
3,939

52,921 161,744 180,420 197,901
5,246 14,864 17,893 21,036
4,777 16,182 16,070 18,220
339
3,796
5,082
4,349
4,438 11,100 12,274 13,871

49,051
4,022
5,493
2,176
3,317

53,642
4,826
5,049
1,270
3,779

55,904
5,446
5,541
1,316
4,226

475
52,510

538
57,045

5,242
559
5,859
4,673
62,385 186,930 209,710 231,915

2,366
56,199

1,511
62,006

1,593
65,299

85,205
268

45,035
118

49,098
125

54,022 160,108 180,931 201,053
135
447
499
396

47,981
112

53,352
126

55,991
142

195
74
86
39
74
3,515

116
2
952
800
52
21
78
3,028

122
3
965
771
97
23
74
3,198

132
3
1,050
834
118
21
77
3,599

109
3
494
292
90
(*)
112
3,155

122
4
611
343
147
(*)
121
3,504

138
4
663
382
166
(*)
115
3,718

21,593
9,138
1,403
518
1,852
738
2,291
1,353
318
51
351

23,614
9,853
1,527
545
1,930
811
2,457
1,482
369
57
401

17,706
5,668
1,160
430
878
543
807
897
363
43
404

19,155
6,239
1,278
466
982
619
865
981
381
38
464

21,075
6,823
1,360
499
1,027
691
942
1,126
427
37
550

240

264

275

143

164

12,455
158
252
1,112
1,123
2,645
2,177
772

13,760
173
266
1,211
1,252
2,954
2,379
827

12,037
194
187
3,674
1,575
2,031
1,716
690

12,917
237
199
3,929
1,735
2,098
1,851
706

1977

1977

Income by place of work
Total labor and proprietors' income i 2___

1

By type
Wage and salary disbursements
.
Other labor income
Proprietors'income 2_ ...
.
Farm
Nonfarm 2
By industry 3
Farm
Nonfarm
.
.. .. .
Private
Agricultural services, forestry,fisheries,and
Agricultural services
Forestry,fisheries,and other 4 .
Mining
Coal mining .
...
Oil and gas extraction. ... .
Metal mining
.
Nonmetallic minerals, except fuels. _
Construction
Manufacturing
Nondurable goods
__
Food and kindred products. . __ . . .
Textile mill products
Apparel and other textile products
Paper and allied products
__
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco manufactures
Rubber and miscellaneous plastics
Leather and leather products .
Durable goods
Lumber and wood products.
Furniture and fixtures
Primary metal industries
Fabricated metal products _ _ __ ._ __
Machinery, except electrical
Electric and electronic equipment
„
Transportation equipment except mo-

2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

Motor vehicles and equipment
Ordnance *>
Stone, clay, and glass products
_. .
Instruments and related products
Miscellaneous manufacturing industries.

44
45
46
47
48
49
50
51
52

Transportation and public utilities
Railroad transportation.-.
_
Trucking and warehousing
Water transportation
Other transportation
Communication
Electric, gas, and sanitary services
Wholesale trade
_ __
_. _ .
Retail trade
Finance, insurance, and real estate
Banking.
Otherfinance,insurance, and real estate..
Services
Hotels and other lodging places._
Personal services
.
Private households
Business and repair services.. _
Amusement and recreation including
Professional, social, and related services...

53
54
55
56
57
58
59
60
61
62
63
64
65
66

Government and government enterprises
Federal, civilian..
Federal, military.
State and local
Derivation of personal income by place of residence

67

Total labor and proprietors' income by place of
Less: Personal contributions for social insurance
by place of work.

68

Net labor and proprietors' income by place of

69

Plus: Residence adjustment

70

10,453
5,238
748
288
461
469
568
2,019
243
4
369
70

35
1,684

37
1,844

11,344
5,752
812
295
513
503
613
2,234
267

12,393
6,255
814
295
533
556
688
2,499
296

433
(D)

490
(D)

5,215

5,593

6,138

388
9
1,409

434
13
1,638

486
13
1,795

248

409

483

326
9,905

337
10,976

343
12,626

68,095
17,615
4,533
194
717
2,081
3,218
3,296
696
11
2,590

78,750
19,863
5,006
218
871
2,442
3,490
3,706
804
11
3,000

88,944
21,789
5,322
244
961
2,674
3,726
4,051
867
10
3,627

17,153
5,660
1,652
(D)
210
488
1,386
956
340

18,997
6,326
1,821
(D)
231
561
1,498
1,095
413

20,094
6,603
1,885

513

585

662

166

281

314

307

74

80

76

14,252
268
224
4,360
1,816
2,297
1,921
897

50,480
749
938
7,802
7,177
11,422
5,823
1,772

58,887
905
1,077
9,106
8,354
12,430
6,606
1,959

67,156
1,004
1,172
10,367
9,557
13,871
7,502
2,173

11,493
121
259
1,561
1,870
3,535
1,972
419

12,671
145
295
1,757
2,122
3,729
2,170
421

13,490
164
303
1,907
2,290
3,936
2,331
423

231
569
1,559
1,157
421

93

94

103

875
1,058
1,267
99

956
1,109
1,327
99

999
1 201
1,469
106

11,449
147
244
996
1,036
2,471
2,020
747

217

275

364

574

754

947

370

416

548

10,811

13,912

16,576

356

443

518

482
426
225

517
474
258

559
539
289

562
1,979
673

603
2,120
740

665
2,305
780

823
453
324

911
481
352

1,001
547
373

2,064
1,092
832

2,359
1,249
932

2,557
1,386
992

492
541
367

563
610
415

557
639
423

2,781
138
885
226
395
714
423
2,470
3,596

3,108
142
955
244
421
887
459
2,725
3,816

3,489
154
1,044
261
449
1,070
511
3,016
4,124

7,646
441
963
557
2,036
2,602
1,048
7,156
7,888

8,290
506
1,004
583
2,224
2,817
1,156
7,523
8,276

8,988
547
1,116
630
2,445
3,007
1,243
7,991
8,649

3,909
681
1,029
146
336
880
837
3,134
5,219

4,379
795
1,142
158
373
997
915
3,371
5,615

4,867
860
1,288
185
418
1,088
1,028
3,606
6,068

12,863
1,984
3,719
160
1,316
3,213
2,470
12,509
18,910

14,446
2,248
4,265
181
1,471
3,545
2,736
13,509
20,720

15,772
2,432
4,807
214
1,602
3,811
2,907
14,508
22,493

4,501
804
1,144
44
757
1,048
705
4,553
5,576

4,989
862
1,310
49
839
1,149
781
4,999
6,162

5,199
932
1,381
64
883
1,168
772
5,124
6,435

1,660
415
1,245

1,860
436
1,424

2,063
466
1,597

8,296
2,719
5,577

9,051
2,937
6,114

9,779
3,129
6,650

2,452
745
1,707

2,775
806
1,970

3,086
865
2,221

8,666
2,327
6,339

9,994
2,555
7,440

10,946
2,729
8,217

3,374
870
2,504

3,836
958
2,878

3,976
991
2,985

6 003
120
283
168
1,484
164

6 414
126
281
188
1,627
176

7 148
132
302
207
1,835
184

19 416
478
641
639
4,004
849

20 555
488
664
715
4,300
924

22,202
508
700
786
4,816
997

8,517
241
417
261
1,347
240

9,514
279
449
292
1,488
262

10,537
280
486
321
1,692
283

27,355
681
1,486
722
4,684
880

30,451
760
1,602
807
5,341
974

33,469
804
1,715
888
5,889
1,056

9,064
246
423
205
1,811
280

10,127
262
464
229
2,068
326

10,640
268
480
252
2,174
344

3,784

4,016

4,487

12,806

13,365

14,395

6,012

6,744

7,475

18,903

20,966

23,117

6,099

6,778

7,122

5,399
1 096
305
3,999

5,893
1,229
322
4,342

6,312
1 309
311
4,691

16,104
2,463
374
13,268

16,213
2,500
390
13,323

17,226
2,767
410
14,049

7,475
1,862
217
5,396

7,946
1,997
220
5,730

8,363
2,098
218
6,046

26,823
4,658
1,068
21,097

28,'779
4,962
1,109
22,709

30,862
5,297
1,148
24,417

8,217
1,511
433
6,273

8,654
1,516
478
6,660

9,308
1,684
508
7,116

34,342

37,117

40,666

90,679

95,525 102,781

52,985

57,583

62,944 192,789 214,383 237,157

58,565

63,517

66,892

11,794

2,969

3,234

3,372

59,694 182,969 203,596 225,362

55,597

60,283

63,520

730

247

288

410

1,889

2,021

2,193

4,653

32,452

35,096

38,473

4,266

4,482

4,880

5,211

2,792

3,008

86,026

90,645

97,570

50,193

54,575

4 806 -4,780

-5,016

-5,379

-432

-440

81,246

85,629

3,250

-479

9,820

558

10,787

639

71

Net labor and proprietors' income by place of

36,719

39,578

43,279

92,192

49,760

54,135

59,215 183,528 204,235 226,093

55,843

60,571

63,930

72
73
74

Plus: Dividends, interest, and rent 7 .
Plus: Transfer payments
Personal income by place of residence _

6,590
6,515
49,824

7,024
7,070
53,673

7,733 18,360 19,678 21,675
7 577 18,239 19,791 21,223
58,589 117,845 125,097 135,089

8,503
11,004
69,268

9,168
12,259
75,562

10,132 31,738 34,744 38,479
13,284 32,333 34,702 37,073
82,630 247,599 273,681 301,646

10,449
9,126
75,418

11,363
10,139
82,073

12,526
10,890
87,346

75
76

Per capita income (dollars)
Total population (thousands) _

6,794
7,333

7,314
7,339

5,841
11,860

6,402
11,802

7,011
11,785

7,347
41,057

6,735
11,198

7,332
11,193

7,768
11,245

See footnotes on page 32.




7,994
7,329

6,519
18,076

6,929
18,053

7,537
17,924

6,047
40,946

6,688
40,918

SURVEY OF CURRENT BUSINESS

October 1978

35

by Major Sources, 1975-77
of dollars]

Table 22.—Michigan

Table 21.—Indiana

Table 24.—Wisconsin

Table 23.-Ohio

Table 27.—Kansas

Table 26.—Iowa

Table 25.-Plains

Line
1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

23,434

26,381

29,417

42,297

48,569

55,629

48,841

54,256

60,432

19,652

21,661

24,787

72,854

78,028

88,312

12,581

13,145

14,777

9,619

10,607

11,749

1

19,125
1,842
2,467

21,640
2,220
2,521

24,271
2,634
2,512

35,801
3,860
2,636

41,054
4,822
2,693

46,619
5,865
3,145

41,590
3,716
3,535

46,160
4,358
3,738

51,160
5,146
4,126

16,177
1,424
2,051

17,923
1,667
2,071

8,324

339

472

734

662

631

725

621

1,477

1,617

1,837

2,179

2,353

2,673

2,801

3,075

3,495

1,326

1,450

1,220

11,335
1,052
2,389
1,018
1,371

7,444

891

2,724
1,601
1,123

2,071

457

69,495
6,467
12,350
5,185
7,165

10,183

675

62,951
5,496
9,581
3,251
6,329

752

904

56,570
4,621
11,663
6,020
5,644

9,105

990

19,946
1,946
2,895
1,255
1,640

1,126
22,309

1,060
25,321

832

583

476

590

909

865

816

875

761

55,039

47,932

53,391

59,616

18,778

20,899

4,143
73,884

6,085
82,227

1,778
10,803

1,080
12,065

1,265
13,512

587

48,093

6,798
66,056

618

41,714

1,411
23,376

740

28,585

8,879

9,988

11,162

7
8

19,427

22,171

25,157

35,264

41,192

47,563

41,511

46,425

52,243

15,924

17,792

20,100

54,264

61,162

68,517

9,091

10,160

11,456

7,149

8,111

9,116

41

47

50

86

97

105

101

112

124

55

65

78

219

241

263

43

47

47

31

33

37

9
10

41
1
140
84
(D)
(*)

46
1
179
100
(D)
(*)

49
1
204
119

84
3
240
1
51

93
4
261
(*)
75

101
4
272
(*)
89

122
2
614
332
186
12
85

63
2
41

76
2
41

215
4

37
(*)
319
(D)
289

2,782

3,154

1,037

30
(*)
164
7
138
(*)
20
590

33
(*)
264
(D)
237

2,569

42
(*)
52
12
1
(*)
39
762

47
1
26
-12

34

259
4
911
52
383
314
161

46
1
31

(P)
(P)
2,081

110
2
548
308
153
11
76

54
1
41

(D)
(D)
2,554

100
1
492
312
94
11
75

698

820

20,753
5,553
1,025

23,697
6,226
1,111

2,025

2,251

2,506

71
163
584
844

73
173
646
914

1,101

730
266
(*)
30
36
145
109

227
3
1,476

1,762

813
299
(*)
32
42
162
123
75
(*)
78

916
328
(*)
30
47
179
140
79
(*)
111

19
20
21
22
23
24
25
26
27
28
29

(p) 1,415
(P)

1,265

\ )
1,700

(D)
(D)
1,879

(*)

9,117
1,948

10,648
2,174

12,173
2,433

16,662
2,813

20,683
3,272

24,392
3,711

18,296
4,947

466

513

556
(D)
100
222
390
548
109

684

756
47
325
381
435
860
59
(*)
371

826
59
394
423
478
942
66
(*)
482

926
65
146
496
783
976
196
3

(p)

81
169
322
463
98

(D)

95
201
358
496
97

(D)

231
320
404
761
55

32

(^)
6
32

63
176
308
160

237
5
860
47
309
345
159

1,195

1,500

4,384

5,093

5,825

6,867
2,247

7,668
2,539

8,589
2,815

891
56
58

20,196
7,820
3,104

56
333
747

58
381
859

62
395
934

1,109

1,236

1,377

263
3

7
(*)

945
66
63
814
385
179
7
(*)
240

17,868
7,155
2,896

1,225

805
50
49
608
322
140

15,810
6,368
2,626

748
127
(*)
435

850
159
(*)
500

947
170
(*)
611

(D)

(P)
(P)
6
6

716

355
155
8
(*)
181

707

851

-7

(P)
36

(D)

35

885

1,032

3,084
1,141

3,414
1,262

3,919
1,399

666
11
25
45
154
106
3
(*)
125

736
13
29
52

788
14
32
59
193
137
4
(*)
166

174
121

3
(*)
128

9,227

2

622

740

870

1,554

1,543

1,652

623
930

488

449

1,055

1,203

3
4
5
6

(D)

11
12
13
14
15
16
17
18

16

18

19

33

39

41

52

58

56

106

119

115

189

217

220

5

6

6

64
(*)
78
2

2

2

30

7,169

8,474

9,739

13,849

17,412

20,681

13,349

15,200

17,470

4,621

5,130

5,774

9,441

10,712

12,376

1,943

2,152

2,520

1,295

1,438

1,590

180
187

223
218

260
237

133
233

155
273

174
300

132
174

157
191

179
215

2,345

1,466
1,727
2,192

1,835
2,141
2,454

2,151
2,555
2,927

2,655
2,143
3,066
1,378

3,070
2,467
3,354
1,544

3,481
2,840
3,676
1,868

226
117
483
899

310
181
493

446

2,039

225
100
404
784

383

1,736

182
84
383
701

540

641

1,808

2,053

597

643

708

574
97

640
109

768
110

1,324
2,742
1,274
1,152

1,440
3,030
1,440
1,278

1,629
3,512
1,649
1,315

68
51
134
244
988
333
55

73
58
165
286

1,650

57
42
119
224
924
300
44

365
53

33
18
41
154
262
73
479

42
20
38
171
279
88
484

51
22
45
186
309
105
498

31
32
33
34
35
36
37
38

(D)

325

737
977

(D)

387

(p)

480

(p)

288

840

973

1,380

1,085
1,660

1,279
1,818

491

582

692

519
168

593
204

717
239

1,305

159

1,191

996

1,269

1,511

6,885

9,158

10,928

1,938

2,339

2,906

637

702

713

801

1,045

1,431

56

70

93

94

148

178

39
40

286
94
104

332
111
115

370
135
119

299
127
99

343
142
112

399
164
127

877
225
164

993
263
180

1,092

128
122
108

137
142
125

509
409
246

582

654

305
198

109
105
97

92
27
59

109
32
69

122
38
76

92
31
18

112
34
22

130
42
25

41
42
43

1,530

1,738

1,941

2,337

2,649

2,961

3,320

3,755

336
633
13
116
443
401

248
632
22
172
684
579

299
739
24
193
749
645

324
871
26
226
822
692

893
163
289
2
43
212
185

1,318
2,291

1,443
2,519

1,591
2,799

2,424
4,130

2,498
4,495

817
155
260
1
39
193
170
927

826
244
216
1
64
160
140
719

910
252
245
1
75
180
156
797

1,022

311
560
10
103
395
359

5,932
1,192
1,558

1,001

271
482
9
91
354
323

1,115

1,250

1,568

1,815

295
820

323
927

519

570

499

545

591

1,094

1,297

1,488

1,416

1,688

2,763

3,068

3,447

5,938

6,613

7,510

6,881

79
186
97
402
68

91
198
108
446
78

102
215
119
522
86

119
321
153
975
191

145
346
171

166
376
189

160
399
200

1,147

1,340

209

232

1,931

2,146

2,404

4,178

4,595

2,881

3,150

3,428

6,450

580
120

620
114

673
117

2,182

2,416

23,434
1,168

6,678
1,331
1,762

7,446
1,440
2,014

80
827

86
932
1,478
1,089
6,250
8,439

1,044
1,643
1,219
6,871
9,283

1,268

1,035
1,404

1,107
1,556

1,042

1,146

1,225

2,579

4,146
1,092
3,055

4,711
1,197
3,515

576
162
413

681
179
502

778
196
582

442
133
308

529
148
381

613
164
448

53
54
55

3,431

10,300

11,586

13,011

1,564

1,770

1,989

1,310

1,481

1,691

95
191
81
480
112

324
613
333

377
668
372

403
727
410

1,673

1,980

2,148

311

348

380

44
106
58
226
41

48
115
65
264
45

51
123
71
293
50

29
89
50
200
29

35
96
56
231
33

37
106
61
279
36

56
57
58
59
60
61

2,471

7,046

7,913

8,943

1,089

1,234

1,402

912

1,031

1,172

62

3,108

3,276

2,057

1,730

1,878

2,046

429
57

262
33

285
33

307
35

342
296

376
293

412
308

5,507

2,454

2,655

2,790

13,710
2,900
1,076
9,734

1,905

398
55

12,723
2,658
1,064
9,001

1,712

348
51

11,793
2,548
1,035
8,210

1,417

1,587

1,714

1,092

1,209

1,326

63
64
65
66

54,256

60,432

19,652

21,661

24,887

72,854

78,028

88,312

12,581

13,145

14,777

9,619

10,607

11,749

67

2,722

3,000

1,052

1,154

1,281

3,937

4,326

4,764

645

699

774

563

624

690

68

46,331

51,533

57,432

18,600

20,506

23,506

68,917

73,70}

83,548

11,936

12,446

14,002

9,056

9,983

11,059

69

-340

-371

-424

301

334

358

-638

-714

-825

104

110

104

633

675

753

70

53,270

45,991

51,162

57,007

18,900

20,841

23,864

68,279

72,988

82,723

12,040

12,556

14,106

9,689

10,657

11,811

7,038
8,118
61,649

7,791
8,492
69,554

7,630
8,406
62,026

8,270
8,988
68,420

9,169
9,633
75,809

3,492
3,379
25,772

3,786
3,658
28,285

4,214
3,969
32,047

14,745 16,148 17,983
12,428 13,497 14,610
95,452 102,633 115,316

2,775
2,047
16,862

2,940
2,242
17,783

3,271
2,425
19,803

2,230
1,665
13,584

2,467
1,834
14,959

2,753
2,030
16,594

71
72

6,765
9,113

7,619
9,129

5,778
10,735

6,400
10,690

7,084
10,701

5,616
4,589

6,136
4,610

6,890
4,651

5,894
2,861

6,172
2,874

6,878
2,879

5,958
2,280

6,507
2,299

7,134
2,326

1,315

1,480

645
1,432

73
201
839
623

83
227
932
685

739

160
380
12
95
288
240

180
427
14
110
317
265

195
489
22
122
349
304

2,760
4,951

3,032
4,905

3,284
5,349

3,629
5,859

1,183
2,009

1,285
2,194

1,404
2,448

5,705
7,640

2,057

1,915

2,233

2,535

995
238
757

1,128

3,568

1,945

847
216
631

255
873

7,609

8,441

2,710

3,034

177
425
224

173
453
246

1,127

1,255

1,373

258

270

282

76
157
66
370
83

86
170
74
425
92

5,207

4,737

5,259

5,913

1,958

2,188

6,901

7,476

875
207

906
205

6,966
1,553

7,373
1,605

2,854

795
198

6,420
1,424

266

255

261

2,638

5,457

5,820

6,366

4,730

5,159

26,381

29,417

42,297

48,569

55,629

48,841

1,307

1,461

2,121

2,370

2,681

2,510

22,266

25,074

27,956

40,176

46,199

52,949

98

94

65

252

294

322

22,365

25,168

28,021

40,429

46,493

3,836
3,600
29,801

4,287
3,799
33,254

4,779
4,090
36,890

6,330
7,822
54,581

5,609
5,313

6,259
5,313

6,921
5,330

5,991
9,111




300

1,305

1,175

597
1,231

474

280

44
45
46
47
48
49
50
51
52

4,191

502
1,082

962
268
693

(D)

89
255
1,030

970

990

5,719
16,691

6,110
16,797

86

6,830
16,884

176
327
2
48
234
214

273
284
1
86
203
175
883

73
74
75
76

SUEVEY OF CUEKENT BUSINESS

36

October 1978
Tables 28-39.—Personal Income
[Millions

Line

Item

Table 28.—Minnesota

Table 29.—Missouri

1975

1976

1977

1975

1976

17,722

19,197

22,343

20,548 22,578

14,413
1,210
2,099
1,063
1,036

15,904
1,434
1,860
609
1,250

17,552
1,682
3,109
1,695
1,414

Farm
Nonfarm.
Private
Agricultural
services, forestry,fisheries,and
other.4
Agricultural services
Forestry, fisheries, and other 4
Mining
Coal mining. _
Oil and gas extraction
Metal mining
Nonmetallic minerals, except fuels
Construction

1,239
16,483

796
18,401

13, 718
50

15,445
58
56
2
292

Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco manufactures
Rubber and miscellaneous plastics
products

4,174
1,739
613
24
56
496
319
86
27
(*)
94

1977

Table 31.—North Dakota Table 32.—South Dakota

Table 30.—Nebraska
1975

1976

1977

1975

1976

1977

1975

1976

1977

25,460

6,962

7,188

7,955

2,922

2,828

3,039

2,501

2,485

2,990

17,096 18,978
1,410 1,678
2,042 1,922
600
308
1,442 1,614

20,949
1,989
2,522
694
1,829

4,980
384
1,598
977
622

5,612
463
1,112
446

6,151
538
1,267
509
757

1,854
118
950
714
236

2,076
142
610
348
262

2,233
162
643
347

1,679
125
696
442
254

1,873
149
463
202
260

2,049
174
768
473
295

1,870
20,473

693
407
19,855 22,171

666
7,289

766
2,156

415
2,413

404
2,634

492
2,008

245
2,239

519
2,471

16,552
51

18,642
57

1,090
5,872
4,691
25

582
6,606

1,572
10

1,808
11

1,992
11

1,490
10

1,677
10

1,878
11

57
1
148
D
()

26

10
(*)
35
10
22
(*)
4
212

11
(*)
44
(*)
3
()
214

196
88
52

10
(*)
36
(*)
1
26
9
151
214
127
94

10

5,329
2,176
745
32
63
617
416
106
37
(*)
135

11
(*)
52
13
34
-1
4
258
198
78
46

11
(*)
67
17
46
-1
4
289

4,699
1,975
687
28
61
569
360
96
33
(*)
116

51
(*)
141
32
4
52
53
1,162
5,127
2,059
606
13
204
152
392
419
20

5,318
26
25
1
33
(D)
20
(D)
14
522

5,880
27

()
262
24
1,243

17,300
67
65
2
258
)
()
225
26
1,382

774
24,686
20,896
63

21
2
8
(*)
2

Income by place of work
Total labor and proprietors' income i 2_.
By type

Wage and salary disbursements..
Other labor income
Proprietors' income 2
Farm
Nonfarm 2
By industry 3

Leather and leather products

49
1
254
1
1
230
22
1,064

C)

()
50
1,311
5,901
2,320
657
13
236
175
430
476
33
(*)
119

63
1
158

49
1,483
6,707
2,501
717
12
243
189
467
524
35

P)

132

2
24
1
10

C)
14
443
1,001
502
338
7
11
16
66
24
3
(*)
35

(•)

1,148
560
362
3
13
19
74
29
3
(*)
55

39
(D)
25
(D)
15
604
1,252
578
359
3
15
20
81
34
3
(*)
60

()
16
1
7
(*)
(*)

18
1
8
(*)

(*)

(*)

(*)

113
2
2
(*)
6
52
10
22

121
3

108
4

24

25

156

181

183

Durable goods
._.
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Transportation equipment except motor
vehicles.
Motor vehicles and equipment
Ordnance 5
Stone, clay, and glass products
Instruments and related products
_.
Miscellaneous manufacturing industries

2,436
110
33
81
449
929
266
51

2724
136
38
90
484
1,021
303
55

3,153
164
41
102
558
1,191
350
57

3,068
75
67
231
401
429
506
533

3,581
91
77
253
430
509
570
634

4,206
105
93
300
472
555
665
665

499
21
19
22
80
126
109
22

589
26
22
24
91
151
126
26

674
28
24
29
104
179
145
31

89

104

130

520

974

30

42

42

108
248

122
287
83

138
333

162
67
78

178
82

197
90

31
28
11

Transportation and public utilities
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation
Communication
Electric, gas, and sanitary services._
Wholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Otherfinance,insurance, and real estate. _
Services
Hotels and other lodging places
Personal services
Private households
Business and repair services
Amusement and recreation including
motion pictures.
Professional, social, and related services.—

1,373
257
330
35
255
271
224
1,530
1,807

1,542
273
375
35
303
305
250
1,651
2,012

1,708
295
420
34
338
342
279
1,792
2,263

1,953
270
499
42
419
424
298
1,565
2,239

2,220
314
571
47
454
490
343
1,703
2,458

2,480
340
663
49
510
540
376
1,932
2,694

599
199
154
(*)
30
162
54
538
725

248
172
(*)
33
183
60
598
794

766
269
195
(*)
35
203
65
657
866

235
658

1,036
259
777

1,184
285
900

1,071
285
786

1,221
312

1,359
340
1,020

389
99
289

447
110
337

508
118
390

2,573
89
132
64
422
84

2,913
108
146
71
486
95

3,316
115
161
78
573
102

3,244
105
188
109
591
119

3,625
120
205
122
664
132

4,019
128
222
134
715
144

948
30
58
29
156
23

1,053
35
62
32
180
26

1,160
37
68
35
195
28
797

40
38
14

184
71
44

()
58
7
23

C)

41
(*)
2
()
177
257
148
108
(D)

286
161
116

)
17
2
3
(*)
3

()
18
3
3

)
20
4
3
(*)

87
14
(*)
(*)
10
21
10
2

108
17

C)

4

P
14
24
12
2

125
21
1
D
()
16
31
13
2
10

12
(*)
3
195
47
39
()
52
47
234
278
35
64
326
14
20
11
39

13
4

11
9
2

10

13

255
61
49
)
()
65
65
280
341
134
44
90

170
20
60

190
3
24
66

214
26
76

()
43
37
192
281

()
49
41
206
310

()
55
44
221

100
40
60

116
45
71

135
50
85

373
17
22
12
42

421
19
24
13
45
7

337
13
20
14
39

370
15
22
15
41
11

414
16
24
17
47
12

226
56
44
()
59
55
259
315
116
39
77

1,783

2,007

2,287

2,132

2,381

2,675

652

719

275

314

266

297

2,765
449
60
2,256

2,956
453
62
2,441

3,173
496
66
2,612

3,303
961
276
2,065

3,528
1,004
291
2,233

3,790
1,124
268
2,397

1,181
236
153
793

1,288
246
162
880

1,409
258
171

584
154
143
287

606
136
147
323

643
143
147
352

518
144
74
300

562
158
77
328

593
160
80
353

Total labor and proprietors' income by place
of work.
Less: Personal contributions for social insurance
by place of work.

17,722

19,197

22,343

20,548 22,578

25,460

6,962

7,188

7,955

2,922

2,828

3,039

2,501

2,485

2,990

994

1,097

1,206

172

186

145

158

173

Net labor and proprietors' income by place of
work.
Plus: Residence adjustment
Net labor and proprietors' income by place of
residence.
Plus: Dividends, interest, and rent 7
Plus: Transfer payments
Personal income by place of residence..

16,728

18,101

21,136

2,327

2,817

-23

-20

16,705

18,080

21,111

3,087
2,871

3,446
3,139

3,845
3,381

22,664

24,666

28,337

5,779
3,921

6,237
3,954

7,129
3,975

Government and government enterprises.
Federal, civilian
Federal, military
State and local
Derivation of personal income by
place of residence
67

74

Per capita income (dollars)
Total population (thousands).
See footnotes on page 32.




1,180

1,299

362

398

434

157

19,476 21,398

1,072

24,161

6,600

6,790

7,521

2,766

2,656

2,853

2,356

-25 -1,151 -1,248 -1,407

-122

-136

-147

-85

-100

-109

5

7

22,753

6,478

6,655

7,374

2,681

2,556

2,744

2,361

2,824

4,270
4,149

4,751
4,439

1,529
1,072

1,679
1,153

1,862
1,255

645
424

697
469

778
522

584
465

649
512

724
557

26,103 28,569

31,943

9,079

9,486

10,491

3,750

3,722

4,044

3,410

3,494

4,104

6,654
4,801

5,882
1,544

6,112
1,552

6,720
1,561

5,888
637

5,773
645

6,190
653

5,009
681

5,097

5,957

18,325 20,150
3,895
3,883

5,476
4,767

5,968
4,787

SURVEY OF CURRENT BUSINESS

October 1978

37

by Major Sources, 1975-77
of dollars]
Table 33.—Southeast

Table 35.—Arkansas

Table 34.—Alabama

Table 37.—Georgia

Table 36.—Florida

Table 38.—Kentucky

Table 39.—Louisiana

Line
1976

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

33,807

37,500

19,505

21,925

24,308

12,475

14,113

15,649

14,158

16,267

18,326

1

9,926 11,170 12,445 11,894 13,549 15,109
1,031
1,478
1,004
1,223
1,269
1,501
1,233
1,726
1,544
1,711
1,449
1,716
497
540
418
271
242
344
1,307
1,048
1,170
963 1,207
1,372

2
3
4
5
6

1975

1976

1977

1975

1976

1977

179,260 200,529 222,957

12,793

14,476

16,068

6,893

7,577

8,788 31,346

150,211 167,298 185,713
12,116 14,494 17,137
16,932 18,737 20,107
4,838
5,007 4,506
12,094 13,730 15,600

10,626 11,992 13,393
894 1,075
1,281
1,273
1,409
1,393
382
425
288
891
984 1,106

5,155
463
1,276
658
617

5,877
565
1,135
463
672

6,648 26,700 28,647 31,624 16,597 18,608 20,795
679 2,035
2,347 2,777 1,268
1,536
1,819
1,461 2,611
2,813 3,099 1,640
1,781
1,694
690
592
584
522
517
523
258
771 2,019
2,228 2,577 1,124
1,258
1,436

6,111
6,386 5,956
173,149 194,143 217,001

441
12,353

351
486
13, 990 15,717

738
6,156

542
7,034

784
918
955
8,004 30,427 32,852

136,913 154,966 174,757

855

9,687
49

11,059 12,510
54
52

5,059
28

5,830
30

6,703 24,049 26,040 29,393 14,944 16,975 19,187
34
261
282
310
67
76
80

672
617
182
182
4,708 5,310
2,839
2,597
1,878
1,578
45
43
36
469
550
496
11,784 12,936 14,857

25
24
232
191
15
(*)
26
850

28
25
246
197
(DD)
()
27
969

30
22
270
216
(DD)
()
29
1,138

26
2
67
D
()
32
9
(D)
445

26
4
89
(DD)
()
9
(D)
496

29
5
103
D
(D)
()
10
(D)
598

237
25
135
D
()
30
(D)
97
2,470

47,546 53,933
25,716 28,460
4,017 4,406
6,638
6,156
3,254 3,452
2,544 2,869
1,980
1,752
4,744 5,335
403
536
467
(D)
978
920
1,195
1,844
1,432

3,443
1,633
240
343
281
283
90
212
(D)
6
156

3,986
1,894
266
423
344
334
102
232
(DD)
()
153

4,537
2,109
292
444
357
371
119
263
(DD)
()
222

1,667
769
223
(D)
83
135
66
86
(D)

2,008
924
256
41
103
173
75
106
24
(*)
83

2,362
1,049
303
45
106
200
87
120
28
(*)
104

3,904
1,787
537
30
185
221
326
329
17
25
92

1975

712

799

1977

567
146

4,348
2,684
1,151

40,797
22,107
3,581
5,133
2,710
2,157
1,559
4,179

(D)

430

423

18,690
1,894
1,347
2,304
2,368
2,619
2,823
2,143

21,830
2,336
1,619
2,682
2,674
2,984
3,314
2,358

25,473
2,668
1,832
3,116
3,075
3,506
3,955
2,635

735

1,046

1,421

50

1,571

1,780
532
503

2,040
672
553

102
23
25

15,167 17,189
2,166
2,003
3,435 3,986
795
899
2,282
2,624
4,148
4,720
2,505
2,794
12,839 14,296
21,310 23,666

857
138
201
42
35
256
186
786
1,250

11,129
2,719
8,410

C)66

1975

929
671
641
681
416
570
36,571 18,834 21,244 23,892 11,905 13,472
9,730 11,092
30
35

250
32
133
-1
29
8
96
2,302

275
35
135
-1
15
9
111
2,604

45
22
78
(*)
1
1
75
1,058

49
27
88
(*)
2
(*)
85
1,127

51
29
103
2
2
(*)
99
1,326

29
(*)
998
933
33
(*)
32
712

34
1
907
804
68
(*)
36
864

4,309
1,990
573
34
214
253
362
368
18
26
114

5,007
2,205
634
33
228
273
413
412
26
25
138

4,343
2,709
524
943
397
335
184
183
17
(D)
110

5,234
3,236
596
1,149
489
392
209
224
(DD)
()
137

5,892
3,581
664
1,260
513
446
243
250
(DD)
()
161

3,095
1,271
279
27
189
79
138
205
55
173
97

3,635
1,463
311
61
197
93
155
258
68
189
95

526

341

15,123

13,817

12,601

11,392

37

54

36
1

30
25
960
(D)
901
(D)
58

1,051

933
81
(*)
37
1,010

1,244

4,188
1,624

2,427
1,361

342
68
211
105
169
297
84
200
117

288
(D)
52
211
81
492
210

P,

411
17,914

7
8

13,357 15,137
65
67

9
10

314
15,954

34
32
1,206
(D)
1,144
(D)
62
1,640

37
30
1,435
D
()
1,371
(D)
64
1,789

11
12
13
14
15
16
17
18

2,816
1,583
317
(D)
67
252
92
580
238
(*D)
()

3,207
1,792
339
(D)
75
286
100
684
268
(*D)
()

19
20
21
22
23
24
25
26
27
28
29

9

9

53

62

57

24

28

24

20

19

30

36

33

1

1

1

30

2,093
269
55
760
282
148
141
191

2,428
316
62
868
320
169
173
193

898
177
80
67
112
95
162
22

1,084
203
102
88
141
120
200
32

1,313
239
116
115
167
155
260
42

2,116
164
70
44
310
268
460
461

2,318
182
76
48
323
289
520
507

2,801
225
85
61
385
361
587
618

1,634
212
63
159
173
192
154
229

1,998
263
74
192
202
207
182
252

2,311
296
86
226
243
249
211
243

1,824
83
47
262
222
475
384
18

2,172
108
57
312
256
532
472
19

2,564

1,067
143
9
104
187
111
92
299

1,233
175
10
113
218
122
118
336

1,414
199
11
132
241
143
159
369

65

104

29

34

43

13

17

23

209

344

433

177

229

310

6

6

9

31
32
33
34
35
36
37
38
40
39

118
30
34

140
43
40

52
72
30

60
70
36

63
76
39

207
71
47

211
91
54

251
140
65

161
30
51

184
37
61

216
45
64

97
25
34

109
36
40

132
40
43

92
10
12

109
11
14

125
12
15

41
42
43

986
148
235
46
40
305
212
887
1,397

1,124
161
274
51
43
359
236
1,000
1,556

516
112
144
3
26
126
105
414
754

583
125
161
3
31
146
116
460
837

650
135
184
3
31
167
128
502
939

2,672
196
366
101
739
880
390
2,134
4,176

2,947
209
400
107
799
982
451
2,302
4,557

3,325
226
477
119
948
1,095
459
2,532
5,040

1,732
218
360
21
440
444
250
1,726
2,099

1,950
222
418
26
488
505
291
1,897
2,292

2,227
240
475
32
567
582
331
2,161
2,549

894
233
217
24
57
200
164
725
1,218

1,031
271
249
26
63
232
189
783
1,402

1,172

1,546

1,399
139
208
383
157
296
215
1,006
1,501

1,568
142
239
432
182
335
237
1,137
1,720

1,764
153
277
484
209
381
260
1,288
1,952

44
45
46
47
48
49
50
51
52

531
154
377

619
173
446

726
194
532

277
93
183

331
105
226

385
120
265

1,968
434
1,534

2,348
452
1,897

2,723
503
2,219

1,084
274
810

1,232
292
940

1,371
308
1,064

440
146
294

543
165
378

631
187
444

639
175
464

739
198
541

843
221
622

53
54
55

26, 669 29,922 33,522
1,265
1,453
1,572
1,515
1,664
1,808
1,761
1,969
2,166
4,566
5,225 6,030
877
989 1,083
16,685 18,622 20,863

1,688
47
98
152
274
33

1,915
54
108
170
321
36

2,107
57
120
187
345
38

892
34
58
58
138
24

996
40
62
65
152
27

1,129
42
68
72
176
29

6,330
434
302
337
1,134
357

6,861
482
319
377
1,207
395

7,724
516
348
414
1,417
437

2,756
121
149
221
524
78

3,080
162
165
247
600
87

3,477
180
179
272
703
97

1,618
53
106
76
201
49

1,893
62
123
85
233
55

2,118

2,161
81
103
163
458
58

2,467
96
115
182
541
63

2,792
103
127
200
621
69

56
57
58
59
60
61

1,084

1,226

1,360

580

649

742

3,766

4,081

4,591

1,664

1,819

2,046

1,132

1,336

1,484

1,299

1,470

1,671

62

36,235
9,263
6,200
20,772

42,244
10,898
6,642
24,704

2,666
921
316
1,429

2,930
1,022
328
1,581

3,207
1,095
339
1,774

1,097
258
133
707

1,204
280
141
784

1,300
294
142
864

6,378
1,221
940
4,218

6,812
1,312
975
4,525

7,172
1,339
1,030
4,803

3,890
1,109
523
2,257

4,269
1,204
599
2,466

4,705
1,345
671
2,689

2,175
514
429
1,232

2,380
569
461
1,349

2,522
1,434

2,425
446
319
1,660

2,596
485
274
1,837

2,778
529
296
1,952

63
64
65
66

179,260 200,529 222,957

8,788 31,346

445
441
13,460
1,824
3,009

709
2,058
3,653
2,207
11,652
19,152
8,338
2,261
6,078

9,740
2,454
7,285

39,176
10,222
6,324
22,630

(D)
1,810
206
42
669
247
138
110
196

12,793

14,476

16,068

6,893

7,577

11,733

720

840

935

363

411

169,787 189,930 211,224

9,473

10,599

(D)

116
67
358
308
593
573
24

294
292
31
72
267
216
848

67
133
93
281
60

608
480

33,807

37,500

19,505

21,925

24,308

12,475

14,113

15,649

14,158

16,267

18,326

67

1,515

1,627

1,801

1,013

1,134

1,263

664

743

806

720

828

919

68

8,325 29,831

464

12,074

13,636

15,133

6,530

7,165

32,181

35,700

18,492

20,792

23,045

11,811

13,371

14,842

13,438

15,439

17,407

69

2,328

230

239

270

9

1

-3

-32

-30

-31

-49

-73

-84

117

110

124

2

21

8

70

171,749 192,100 213,551

29,799

32,151

35,668

18,443

20,719

22,961

11,928

13,481

14,966

13,440

15,460

17,415

71

3,021
3,825

3,352
4,045

1,972
2,652

2,223
2,896

2,484
3,111

2,269
2,571

2,378
2,842

2,650
3,122

72
73

1,962

2,170

12,303

13,875

15,403

6,539

7,166

8,321

37,438
44,477

1,675
2,777

1,842
3,054

2,039
3,303

1,257
1,719

1,380
1,876

1,529
2,028

239,720 266,872 295,466

16,756

18,771

20,745

9,515

4,635
3,615

5,138
3,653

5,622
3,690

4,510
2,110

30,430
37,541

5,028
47,676

33,714
41,058

5,536
48,207

6,055
48,797




8,543
8,268

9,671
9,171

10,784
10,044

2,792
3,561

10,422

11,878 46,610

50,993

56,496

24,796

27,565

30,358

16,551

18,600

20,561

18,280

20,680

23,187

74

4,923
2,117

5,540
2,144

6,105
8,353

6,684
8,452

5,029
4,931

5,531
4,984

6,014
5,048

4,887
3,387

5,414
3,436

5,945
3,458

4.803
3,806

5,337
3,875

5,913
3,921

75
76

5,631
8,277

SURVEY OF CURRENT BUSINESS

38

October 1978
Tables 40-51.—Personal Income
[Millions of

Table 41.—
North Carolina

Table 40.—
Mississippi

Line

Table 42.—
South Carolina

Table 43.—
Tennessee

Item
1975

1976

1977

7,135

8,152

5,739
485
912
276
635

Table 44.—
Virginia

1975

1976

1977

1975

1976

1977

1975

1976

1977

9,179

21,217

23,732

26,052

10,084

11,488

12,624

15,867

17,960

20,006

6,472
578
1,102
368
733

7,191
688
1,300
470
829

17,654
1,301
2,262
1,005
1,257

19.615
1,543
2,575
1,147
1,428

21.725
1,814
2,514
895
1,619

8,646
615
824
207
617

9,841
749
898
179
718

10,809
884
116
815

13,313
1,115
1,438
197
1,241

382
6,753

504

614
8,565

1,170
20,047

1,287
22,445

1,051
25,001

9,786

257
11,231

195
12,430

5,300

6,097

6,890

16,088

18,255

20,385

7,529

8,752

32
20
12
90

35
23
12
159
(D)
146
(*)
(D)
588

59
47
12
46
1
(*)

427

36
21
15
131
(D)
119
(*)
(D)
506

70
53
17
51
-1
1
(*)
52
1,258

75
58
17
58
-1
1
(*)
59
1,399

37
24
13
20
(*)
(*)
(*)
19
670

41
26
14
20
(*)
(*)
(*)
19
734

Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco manufactures
Rubber and miscellaneous plastics products.
Leather and leather products

1,884
733
166
40
219
85
33
75
30
(*)
72

2,218
858
186
52
264
99
36
87
33
(*)
86

2,520
933
203
55
275
115
44
98
34
(*)

7,591

8,505
5,381
452
2,467
588
344
199
567
1
452
273

3,202
2,281
118
1,176
245
178
59
405
4
3
92

13

16

16

25

34

37

1

Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Transportation equipment except motor
vehicles.
Motor vehicles
and equipment
Ordnance 5
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing industries.

1,151
190
118
25
90
103
154
345

233
142
34
102
121
190
381

267
160
36
118
145
240
420

2,274
247
530
73
227
405
433
28

2,693
309
633
88
284
473
488
36

3,125
342
728
105
322
551
573
40

1975

1976

1977

21,042

23,387

25,946

14,880
1,326
1,754
354
1,400

16,535 18,313
1,569
1,302
1,902' 1,427
225
319
1,202
1,583

20,259
1,555
1,574
180
1,393

22,377
1,824
1,745
165
1,580

264
15,603

427
17,533

404
19,602

298
20,744

277
23,110

243
25,702

9,815

12,905

14,578

16,429

14,453

16,358

18,364

45
29
16
22
(*)
(*)
22
840

34
31
3
151
82
6
24
39
947

35
4
113
48
7
18
39
1,015

41
38
4
129
55
9
22
43
1,177

52
45
7
391
357
2
3
29
1,391

62
51
11
351
314
4
2
30
1,533

55
11
376
335
5
3
33
1,750

3,874
2,758
137
1,447
298
208
66
461
5
4
132

4,323
3,013
151
1,541
311
230
72
520
6
4
176

4,752
2,665
433
209
389
188
200
842
11
15
221

5,469
3,034
489
244
470
219
230
945
13
17
232

6,212
3,369
529
257
497
253
258
1,029
13
20
337

2,086
350
322
205
175
176
510
6
218
100

4,556
2,372
391
393
239
203
197
519
7
250
143

5,142
2,626
425
437
250
229
227
575
7
264
184

159

176

177

24

29

27

921
113
30
54
110
251
139
28

1,115
142
41
66
137
305
165
33

1,310
158
43
79
166
363
204
37

2,087
139
176
229
376
338
306
97

2,436
175
208
271
380
385
374
109

2,843
201
229
326
422
462
450
128

1,897
179
172
154
223
159
377
381

2,184
224
212
191
243
181
411
417

2,516
254
236
227
276
200
463
477

Income by place of work
Total labor and proprietors' income 1 2
By type

Wage and salary disbursements..
Other labor income 2
Proprietors' income
Farm
Nonfarm 2
By industry 3

10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

31
32
33
34
35
36
37

Farm
Nonfarm.
Private
Agricultural
services, forestry, fisheries, and
other 4
Agricultural services
Forestry,fisheries,and other 4
Mining
Coal mining
Oil and gas extraction
Metal mining
Nonmetallic minerals, except fuels
Construction

77
(*)

C)

45
1,149
6,489
4,215
366
1,989
429
250
163
452
2
377
161

431
2,286
526
297
183
498
2
420
221

18

22

45

63

92

12

15

109

152

185

61

87

141

65
14
29

83
14
37

19
42

166
73
46

184
95

203
124
44

117
39
34

129
48
36

148
58

181
51
86

221
60
101

261
70
109

129
30
34

145
34

163
38
40

Transportation and public utilities
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation
Communication
Electrical, gas, and sanitary services
Wholesale trade
Retail trade

464
67
102
29
21
140
104
413
735

528
81
117
30
24
161
116
457
818

599
88
138
34
28
183
129
507
913

1,347
124
476
12
116
350
270
1,292
2,079

1,483
126
536
13
127
389
292
1,417
2,323

1,695
137
610
16
143
450
339
1,583
2,568

542
75
142
17
29
168
111
491
974

628
75
168
22
33
192
138
547

723
81
192
24
35
219
172
611
1,217

1,017
171
379
12
117
280
58
1,194
1,664

1,169
189
444
13
133
327
64
1,354
1,847

1,337
204
527
15
145
373
72
1,488
2,057

1,458
223
303
51
302
389
190
1,097
2,076

1,664
268
343
61
338
436
218
1,212
2,334

1,860
290
389
67
380
487
246
1,344
2,568

Finance, insurance, and real estate
Banking
Other finance, insurance and real estate._.

293
95
197

339
106
233

385
119
266

260
622

997
278
719

1,101
303
797

403
104
299

459
112
347

515
124
391

742
214
528

867
235
632

979
259
720

242
641

1,034
260
775

1,206
290
916

Services
Hotels and other lodging places
Personal services
Private households
Business and repair services
Amusement and recreation including
motion pictures
Professional, social, and related services.

961
41
60
98
135
14

1,065
47
65
110
157
16

1,184
49
71
121
178
18

2,745
97
186
193
439
65

3,065
99
200
216
505
77

3,401
110
210
238
547
82

1,190
62
79
123
174
31

1,354
75
88
137
204
36

1,518
85
96
151
231
41

2,403
111
151
131
386
72

2,704
126
168
146
438
81

3,008
138
182
161

3,122
150
172
174
600
75

3,612
174
194
194
747
90

4,052
181
211
214
898
94

613

670

747

1,764

1,968

2,215

722

814

915

1,552

1,745

1,934

1,951

2,213

2,454

1,454
335
258
861

1,550
364
249
938

1,675
402
251
1,021

3,960
632
960
2,368

4,190
698
918
2,573

4,616
737
962
2,917

2,257
472
632
1,153

2,479
557
680
1,242

2,614
567
683
1,364

2,698
805
156
1,737

2,955
924
160
1,872

3,173
987
168
2,019

6,292
2.351
1,514
2,426

6,752
2,595
1,518
2,638

7,338
2,761
1,596
2,981

Total labor and proprietors' income by place of
work
Less: Personal contributions for social insurance
by place of work

7,135

8,152

9,179

21,217

23,732

26,052

10,084

11,488

12,624

15,867

17,960

20,006

21,042

23,387

25,946

1,097

1,132

1,254

1,387

Net labor and proprietors' income by place of work.

6,746

7,711

Plus: Residence adjustment
Net labor and proprietors' income by place of.
residence
Plus: Dividends, interest, and rent 7
Plus: Transfer payments

65
6,811

69
7,780

1,677

Personal income by place of residence.
Per capita income (dollars).__
Total population (thousands) _

Government and government enterprises _
Federal, ciyilian
Federal, military
State and local
Derivation of personal income by place
of residence
67

74

See footnotes on page 32.




1,168

1,306

1,441

536

617

677

885

987

8,690

20,049

22,426

24,611

9,548

10,871

11,947

14,981

16,973

18,909

19,910

22,133

24,559

76
8,766

-32
20,018

-28
22,398

-31
24,580

160
9,708

180
11,051

201
12,149

-233
14,749

-222
16,751

-262
18,647

1,826
21,737

2,019
24,153

2,184
26,743

1,128
1,837

1,251
2,002

3,141
3,723

3,524
3,998

3,917
4,293

1,440
1,986

1,625
2,106

1,793
2,244

2,206
3,092

2,338
3,373

2,594
3,628

3,191
3,822

3,527
4,220

3,879
4,624

9,472

10,746

12,019

26,882

29,920

32,791

13,134

14,781

16,186

20,046

22,462

24,869

28,749

31,899

35,246

4,047
2,341

4,543
2,365

5,030
2,389

4,940
5,441

5,478
5,462

5,935
5,525

4,665
2,816

5,197
2,844

5,628
2,876

4,804
4,173

5,305
4,234

5,785
4,299

5,772
4,981

6,314
5,052

6,865
5,135

440

SUKVEY OF CURRENT BUSINESS

October 1978

39

by Major Sources, 1975-77
dollars]
Table 46.—
Southwest

Table 45.West Virginia

Table 47.Arizona

Table 4 8 . N e w Mexico

Table 49.Oklahoma

Table 50.—

Table 51.Rocky Mountain

Texas

Line
1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

6,744

7,644

8,511

75,939

86,069

97,454

8,693

9,707

10,952

4,203

4,699

5,321

10,407

11,412

13,037

52,637

60,252

68,144

24,612

27,280

30,470

1

5,649

6,389

7,062

80, 734
7,646
9,074
1,421
7,653

9,375

3,507

3,953

4,498

8,402

9,407

10,589

825
624
20
604

71,573
6,395
8,101
1,438
6,664

8,275

718
538
1
537

63,041
5,339
7,559
1,455
6,104

7,496

604
491
12
479

590
607
160
446

693
739
241
498

828
750
173
576

261
435
160
276

319
427
127
300

384
440
95
345

43,636
3,785
5,216

49,938
4,548
5,766

56,272
5,445
6,427

22,680
1,763
2,837

25,508
2,106
2,856

714

410

2,122

2,446

2
3
4
5
6

835

989

1,170

1,458

296

192
978

330

839

878

823

1,127

4,376

4,888

5,604

20,185
1,471
2,955
1,039
1,917

1,005

22

15

31

2,079
95,375

295

203

175

146

369

297

455

8,480

2,018
84,051

347

7,629

1,942
73,997

259

6,723

8,433

9,359

10,657

4,000

4,524

5,176

10,037

11,115

12,582

1,111
51,526

1,199
59,053

1,183
66,961

1,390
23,221

1,101
26,178

29,681

5,779

6,571

7,337

59,243

67,609

77,739

6,365

7,052

8,172

2,749

3,144

3,654

7,909

8,769

10,056

42,219

48,644

55,858

17,792

20,262

23,307

9

9
9

10
10
1

11
11
1

285
252
33

318
269
49

354
304
50

4,896

5,844

1,168

2,374

46

57

83

3,082

4,083

4,955

511
170

586
170

614
192

30
30
1
966
17
934
-2
17
692

105
100
5

3,808

30
30
1
709
(D)
676
(D)
18
665

95
90
5

155
(*)
18
639

16
15
1
477
(DD)
()
196
55
433

86
84
2

1,467
1,294

14
14
1
391
(DD)
()
159
48
350

250
202
48

127
(*)
17
492

13
13
(*)
307
(DD)
()
112
44
319

226
179
47

1,373
1,229

54
53
(*)
457
(DD)
()
415
12
892

198
166
31

54
(*)
17
422

47
46
(*)
462
(DD)
()
429
10
673

34
33
1

1,182
1,110

44
44
(*)
419
(DD)
()
397
9
684

10
11
12
13
14
15
16
17
18

1,608

1,852

2,038

1,308

1,465

1,735

2,282

777
72
(D)
43
17
49
519
25
(DD)
()
20

312
113
(*D)
(D)
()
89
24
3
(*)
20
3

349
119
(*D)
(D)
()
105
28
5
(*)
24
4

662
171
(D)
70

755
191
(D)
85

844
206
(D)
90

(D)

(D)

(D)

24
9
18
(*)
1
3

378
147
53
(DD)
()
1
27
11
24
(*)
1
4

1,997

706
64
(D)
42
21
46
467
19
(D)
(D)
17

320
127
49
(DD)
()

1,740

598
;58
(D)
36
17
41
389
16
(DD)
()
14

277
108
43
(DD)
()
(*)
21
7
14
(*)
1
2

102
4

101
45
168
(*)
113
4

113
54
184
(*)
143
4

1,010

1,145

1,261

53
10
583
107
116
62
44

193
29
2
11
14
22
33
25

232
35
2
23
18
26
39
31

1,242

52
9
518
106
101
53
43

169
23
2
7
14
21
29
21

1,078

40
11
465
91
83
50
39

38
17
56
250
290
150
100

43
22
69
268
353
140
111

(*)

|

703
1,302

5,701

6,547

7,791

13,648
5,516
1,271

15,646
6,420
1,457

17,995
7,274
1,601

(D)
416
69

(D)
519
74

273
99
(*D)
(D)
()
81
21
2
(*)
17
3

8,131

9,226

10, 720

1,035

1,152

1,386

379
168
735

455
191
834

557
210

1,329
1,881
1,186
1,246

1,460
2,156
1,373
1,327

1,048
1,598
2,541
1,665
1,439

51
11
100
56
154
288
216

56
13
124
61
182
310
230

74
15
150
73
235
360
269

(D)
578
277
682
1,253

975
(D)
350
56

(D)
670
330
759
1,475
1,163

(D)
705
387
872
1,683
1,341

C)

89
38
147

C)

789

3,076

3,741

1,050

1,288

1,611

3

1,122

2,272

2,981

3,629

-2
20
824

(D)
99

(*)
95

5
105

137
425
369
120

190
572
389
137

256
724
482
149

28

(D)

4,033

4,832

5,642

1,899

2,178

2,611

10, 323
4,473

11,864
5,226
1,105

13, 599
5,936
1,224

3,560
1,326

4,065
1,492

4,689
1,663

(D)
352
63

590
5
65
54
228
159
84
(*)
105
35

664
6
74
61
255
170
97
(•)
123
42

726
8
82
68
288
197
104
(*)
142
49

958
(D)
462
234
490

(D)
527
279
545

(D)
555
329
628

1,186

1,396

812
(D)
231
48

974
(D)
283
59

1,590
1,129

1,439

5,850

6,638

7,664

2,234

2,573

3,026

51
23
83
295
425
175
128

266
138
571

328
154
630

397
171
793

1,009
1,416

1,116
1,599

719
909

890
962

1,213
1,855
1,091
1,011

381
32
359
223
443
147
224

468
40
395
253
510
179
225

553
46
452
280
472
213
261

12

15

19

237

293

356

16

19

23

5

7

6

48

65

71

168

203

255

32

40

47

202
7
12

227
7
14

246
8
12

568
249
153

679
282
176

794
326
185

60
61
21

66
68
24

90
73
24

21
2
25

22
2
27

29
2
23

97
16
15

131
22
19

146
21
21

390
170
92

460
190
107

530
230
118

186
145
62

217
181
65

282
346
74

562
128
112
13
20
124
164
373
624

631
146
127
16
23
137
182
386
687

713
157
150
21
24
155
205
431
761

5,920

6,710

7,704

851
73
224
1
189
202
163
769

948
75
247
1
211
231
183
733

5,450

2,019

2,311

2,610

81
289
1
241
257
204
835

480
905
240
735

584
1,226

305

262
832

304
950

1,002

1,166

376
465
2
278
539
360

439
529
2
313
618
409

475
600
3
361
704
466

1,043

1,163

1,307

423
54
83
(DD)
()
111
142
250
602

540

1,356
1,937
1,603
7,254
10, 795

371
50
68
(DD)
()
101
123
219
536

1,036

263

323
43
60
(DD)
()
89
105
198
478

4,733

1,186
1,695
1,390
6,448
9,568

757
62
123
(DD)
()
227
213
573

4,170

241

659
58
103
(DD)
()
197
187
497

1,073

1,043
1,470
1,239
5,818
8,528

575
50
90
(DD)
()
178
162
453

1,152

1,250

1,394

1,584
2,761

1,774
3,087

1,945
3,463

196
69
127
803
32
52
36
103
23

231
79
152
909
37
57
40
118
25

264
91
172

3,783
1,033
2,750

4,468
1,152
3,317

5,271
1,302
3,969

448
151
297

541
166
375

638
182
456

156
50
107

187
57
130

218
64
155

490
150
340

558
171
387

640
193
447

2,689

1,013

11,751

13,009

14,732

1,390

1,545

1,759

1,805

528
735
611

568
811
672

2,403

2,779

3,212

314

356

397

95
74
46
256
43

115
81
51
288
49

123
90
56
323
53

856
52
36
27
273
27

1,594

453
684
547

755
49
33
24
236
23

1,503

42
62
44
130
28

678
41
31
22
209
21

41
94
66
249
31

46
93
74
272
36

50
100
81
320
40

557

632

706

7,351

7,999

9,071

877

961

1,113

355

391

442

1,023

1,075

944
199
20
725

1,058

1,143

17,636
4,504
2,565
10,567

2,308

2,485

1,251

1,380

1,522

2,128

234
23
886

16,442
4,193
2,512
9,736

2,068

213
21
825

14,754
3,839
2,392
8,523

478
299

530
305

574
309

1,291

1,473

1,602

393
178
679

419
186
775

475
195
853

6,744

7,644

8,511

75,939

86,069

97,454

8,693

9,707

10,952

4,203

4,699

368

413

454

3,907

4,389

4,933

446

490

553

222

248

6,376

7,232

8,057

72,032

81,680

92,521

8,247

9,217

10,399

3,981

4,450

-101
6,275

-116
7,116

-125
7,932

121

222

-24

-14

-20

-26

-30

137

178

148

28

90

81,902

92,497

8,233

9,917

10,373

3,952

—26
4,424

-30

72,153

5,010

9,998

10,994

12,517

49,971

57,287

-116
64,597

1,058
1,860

1,166
2,032

15,029
12,944

16,917
14,251

19,051
15,485

1,823
1,868

2,123
2,050

2,396
2,174

730
858

829
956

929
1,032

2,142
2,193

2,400
2,416

2,706
2,617

10,344
8,025

11,566
8,830

11,129 100,127 113,070 127,032

11,924

13,370

14,943

5,540

6,209

6,970

14,332

15,809

17,839

68,331

5,391
2,212

5,944
2,249

6,509
2,296

4,843
1,144

5,298
1,172

5,857
1,190

5,280
2,715

5,707
2,770

6,346
2,811

5,584
12,237

960
1,694
8,929

4,962
1,799

1

i

10,033

5,476
1,832

5,986
1,859




647

723

782

1,279

1,454

1,721

5,469
18,307

6,017
18,790

6,642
19,127

808

897

4,398
5,855

4,998
6,619

1,342
1,045
5,596
7,492

3,182

7
8

19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40

41
42
43

44
45
46
47
48
49
50
51
52

3,774

1,099

1,326

1,576

682

758

863

2,007

2,425

2,911

331
768

368
958

1,161

8,180

9,114

10,312

3,731

4,137

4,698

276
485
413

319
528
462

343
584
509

1,690

1,984

2,296

219

248

278

192
186
76
693
129

227
201
85
780
145

247
222
93
923
159

53
54
55
56
57
58
59
60
61

1,213

5,096

5,573

6,303

2,454

2,698

3,054

62

2,345

2,525

702
306

761
345

783
360

6,374
1,884

724

755

785

1,382

11,103
2,672
1,702
6,729

5,916
1,730

1,239

10,409
2,483
1,676
6,250

5,430
1,632

1,120

9,307
2,266
1,609
5,432

3,074

3,432

3,706

63
64
65
66

5,321

10,407

11,412

13,037

52,637

60,252

68,144

24,612

27,280

30,470

67

282

546

596

668

2,694

3,055

3,431

1,280

1,419

1,596

68

5,040

9,861

10,816

12,369

49,943

57,197

64,713

23,331

25,861

28,873

69

24

27

31

23,355

25,888

28,905

70
71

13,021
9,662

4,317
3,967

4,857
4,398

5,431
4,787

77,682

87,280

31,639

35,143

39,123

72
73
74

6,166
12,599

6,803
12,830

5,571
5,679

6,074
5,786

6,618
5,912

75
76

416

SURVEY OF CURRENT BUSINESS

40

October 1978
Tables 52—63.—Personal Income
[Millions of

Table 52.—Colorado

Line

Table 53.—Idaho

1975

1976

1977

11,900

13,061

9,938
693
1,269
402
867

Table 55.—Utah

Table 54.—Montana

Item

Table 56.—Wyoming

1975

1976

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

14,622

3,267

3,673

3,964

3,028

3,187

3,457

4,631

5,286

5,984

1,786

2,074

2,443

11,065
824
1,172
241
931

12,388
981
1,253
178
1,075

2,529
196
542
257
285

2,924
238
511
188
323

3,246
282
435
63
372

2,260
168
600
319
281

2,464
199
524
226

2,801
234
422
82
340

3,972
309
351
48
303

4,505
371
410
59
351

5,070
440
474
68
406

106
194
13
181

1,722
133
219
1
218

2,002
169
273
19
253

11,412

327
12,734

281
14,340

373
2,894

346
3,326

202
3,762

2,630

297
2,890

146
3,311

73
4,558

5,202

96
5,889

58
1,728

48
2,026

64
2,379

8,744
39

9,819
41

11,236
46

2,291
22

2,654
25

3,036
27

1,953
10

2,205
11

2,512
12

3,441

3,973
11

4,588
11

1,363

1,611

1,934

41

46
(*)
544
(D)
303
147
(D)
1,099

21
1
53
(*)
(*)
40
12
272

23
2
48
(*)

10
(*)
114
16
32
53
13
211

10
(*)
260
(D)
51
134
(D)
447

11
(*)
310

6
(*)
308
30
168
45
65
230

()

()

34
13
317

25
2
53
-1
2
39
13
377

9

433
(D)
245
116
(D)
927

1,830
691
299
2
27
20
133
79
10
(*)

2,064
777
335
3
28
23
147
85
13
(*)
101

2,400
860
356
4
33
27
167
94
15
(*)
116

555
239
155
2
(D)
17
21
36

668
272
178
3
1
20
24
38
(*)
(*)

758
302
199
3
1
22
27
41
(*)
(*)

290
101
39
(*)
(D)
11
19
7
21
(*)
(D)

881
257
92

105
67
14

42
7
51
34
19
(*)
12

1,011
292
101
(*)
45
8
57
45
20
(*)
15

34

41

(*)

(*)

17
140
135
292
103
127

40
22
151
154
326
130
121

2
2

552
26
9
141
60
111
33
90

31
10
162
68
124
37
90

719
38
12
189
74
139
44
102

38
12
1
2
4
5
1
1

22

25

104
128
41

121
158
40

171
315
44

16
(*)

923
94
184

1,043
110
207

1,181
119
236

228
55
60

()
290
157
792
1,347

()
330
178
889
1,499

()
374
199
953
1,680

619
158
461

737
172
565

1,999
84
95
39
359
79

2,186
102
102
43
401

Income by place of work
Total labor and proprietors income

l 2

_.

By type
Wage and salary disbursements..
Other labor income
Proprietors income 2
Farm
Nonfarm 2
By industry

3

Farm
Nonfarm-.
Private
Agricultural services, forestry,fisheries,and
other .*
Agricultural serv;ees
Forestry,fisheries,and other <
Mining
Coal mining
Oil and gas extraction
M etal mining
Nonmetallic minerals, except fuels
Construction
Manufacturing
Nondurable goods
Food and kindred products
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Tobacco manufactures
Rubber and miscellaneous plastics
products.
Leather and leather products
Durable goods
Lumber and wood products
Furniture and fixtures
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equipment
Transportation equipment except
motor vehicles.
Motor vehicles
and equipment
Ordnance 5
Stone, clay, and glass products
Instruments and related products
Miscellaneous manufacturing industries.
Transportation and public utilitiei
Railroad transportation
Trucking and warehousing
Water transportation
Other transportation
Communication..
Electric, gas, and sanitary servicesWholesale trade
Retail trade
Finance, insurance, and real estate
Banking
Otherfinance,insurance, and real estate.
Services
Hotels and other lodging places
Personal services
Private households
Business and repair services
Amusement and recreation including motion pictures.
Professional, social, and related services..

38
(*)
358
46
182
111
18
837

C)

1,540
49
25
179
170
264
155
143

C)
(*)

316
207
4
22
17
29
9
5

396
254
6
24
19
46
10
11

456
295
7
20
24
54
12
13

189
102
1
53
1
2

(*)

108
42

385
125
53

()
21
8
22
(*)

222
126
1
59
7
5
1
2

25
(*)

260
152
1
65

C)
218
44
42
120
12
350
780
228
83
(*)
34
(D)
45
32
16

CO

67
158
543

15

18

19
1
3

40
15
14

48
21
17

56
29
20

328
116
65

365
125
72

458
86
140
1
46
102
82
360
577

519
93
161
1
51
115
98
405
646
79
207

58
44
217
364

69
49
242
411

80
55
264
463

873
189
684

122
46
76

154
53
101

186
61
125

2,460
116
114
48
473

458
24
23
(D)
120

522
27
25
12
135
D
)

()

136
22
63
38
13
300

17
1
3

282
98
56
(*)
19
61
47
185
346

()

123
18
51
40
13
241

15
1
3

(*)
21

()

()

(*)

(*)

H

135
84
17
)

()
12
7
44

C)

43
16
(*)
(*)

7

10

(*)

C)

(*)

(*)

12
1
1

14
1
1

191
54
42
(*)
14
39
41
69
194

216
62
46
(*)
16
46
45
82
217

241
67
50

53
23
30

67
27
40

82
32
50

230
34
13
7
44
7

258
33
15
7
53
7

11
1

C)

82
61
224
424

107
43
65

129
48
81

150
55
95

198
62
136

239
68
171

606
28
28
14
168
(D)

407
27
22

458
32
23
12
63
11

517
34
25
13

658
27
34
10
119

741
32
37
.11
137

209
30
13
6
40

(D

856
36
40
12
160
(D)

()

121
78
16

11
6
43
(*)

72
54
201
384

()

568
85
289
100
94
293

()

396
76
122
1
37
91
70
323
509

()

425
54
224
65
82
246

C)

18
52
53
99
250

1,343

1,449

1,614

317

365

114

124

144

Government and government enterprises.
Federal, civilian
Federal, military
State and local

2,668
717
475
1,476

2,915
764
487
1,665

3,105
845
504
1,756

603
154
67
382

673
180
72
422

725
185
75
466

677
187
73
417

685
154
76
455

799
201
76
522

1,117
484
60
573

1,229
528
69
632

1,300
545
76
679

365
49
226

415
104
52
258

445
108
54
284

Derivation of personal income by place of residence
67 Total labor and proprietors' income by place o:
work.
Less: Personal contributions for social insurance
by place of work.

11,900

13,061

14, 622

3,267

3,673

3,964

3,028

3,187

3,457

4,631

5,286

5,984

1,786

2,074

2,443

577

625

178

201

225

165

179

203

260

297

334

100

117

136

11,323
-5

12,436
-5

13, 924

3,089

3,471
33

3,738
39

2,863
-2

3,008
-2

3,254
-2

4,371
3

4,988
3

5,650
4

1,686

C)

1,957
-2

2,307
-3

11,318

12, 431

13, 918

3,505

3,777

2,861

3,007

3,252

4,374

4,991

5,654

1,686

1,955

2,304

1,857

2,328
2,051

2,606
2,228

652
698

612
546

669
606

749
660

752
767

850
839

945
912

382
233

426
262

15,214

16,810

18, 752

531
564
4,212

584
640
4,729

5,128

4,019

4,282

4,661

5,893

6,680

7,510

5,987
2,541

6,527
2,575

7,160
2,619

5,179
813

5,678
833

857

5,388
746

5,669
755

6,125
761

4,900
1,203

5,422
1,232

5,923
1,268

69 I Net labor and proprietors' income by place of work
70
Plus: Residence adjustment.
Net labor and proprietors' income by place of residence.
Plus: Dividends, interest, and rent 7
Plus: Transfer payments
Personal income by place of residence..
Per capita income (dollars)
Total population (thousands).
See footnotes on page 32.




27
3,116

6,123
376

2,642

3,073

6,764
391

7,562
406

SURVEY OF CURRENT BUSINESS

October 1978

41

by Major Sources, 1975-77
dollars]
Table 57.—Far West

Table 58.—California

1975

1975

Table 60.—Oregon

Table 59.—Nevada

Table 61L—Washington

1977

1975

1976

1977

1975

1976

1977

1975

1976

1977

135,791 151,715 170,751 105,821 118,179

32,814

3,144

3,567

4,155

10,049

11,363

12,894

16,777

18,606

114,316 127,099 142,773 89,331 98,930
8,394
9,934 11,810 6,723 7,931
13,081 14,683 16,167 9,767 11,319
3,011
2,767 2,673 2,089 2,148
10,070 11,916 13,495 7,677 9,171

10,774
9,401
12,639
2,257
10,382

2,824
146
174
20
154

3,188
174
205
17
188

3,715
215
226
11
215

8,287
622
1,139
237
902

3,551
3,660 3,909
4,844 4,714 4,804
130,947 147,001 165,947 102,270 114,520 28,905

39
3,104

38
3,529

80,190 90,716 103,460
670
829
903

2,490
8
(D)
(D)

1976

1977

102,817 116,607 133,396
1,165
850 1,056
710
140
759
18
466
78
197
7,340

947
855
200
217
886 1,004
11
11
603
690
59
73
213
229
8,514 10,426

609
61
633
6
462
30
135
5,435

1976

744
86
771
-1
595
25
152
6,213

824
79
863
o
678
29
158
7,527

28,783 32,192 36,387 22,523 25,086 28,249
8,496
9,556 10, 742 6,844 7,659 8,598
2,890 3,156 3,516
2,265
2,454 2,733
161
185
206
136
156
175
772
897
976
695
806
879
929 1,095
1,231
505
596
666
1,639
1,863
1,205
1,350
1,532
1,461
1,264
840
950 1,066
989 1,121
612
668
719
565
614
660
(*)
(*)
(*)
(*)
(*)
(*)
604
702
861
558
646
789
79

93

105

74

87

99

20,286 22,636 25,645 15,679 17,427 19,651
2,287 2,870
3,342
685
871 1,045
483
561
660
422
583
493
1,340
1,426
1,616
906
956 1,074
1,983
2,164 2,398
1,662
1,818 2,017
2,928 3,186
3,589
2,554 2,790 3.125
3,622 4, 056 4,591
3,488
3,904 4,404
4,804 4,961
5,385 3,588 3,734 4,021

Table 62.—Alaska

Tabl 3 63.—Hawaii

1976

1977

1975

1976

1977

20,888

3,798

4,710

4,375

4,500

4,821

5,228

1

9,410 10,735 13,874 15,571 17,549
765
923
902 1,064
1,272
1,188
1,235 2,002
1,971
2,067
195
108
665
408
296
993 1,127
1,337
1,563
1,771

3,476
176
146
2
144

4,279
245
186
3
183

3,894
267
214
2
212

4,013
244
244
37
207

4,285
279
258
27
231

4,613
320
296
30
265

2
3
4
5
6

34
4,121

347
304
384
870
669
557
9,665 11,016 12,590 15,907 17,937 20,331

3
3,795

4
4,706

4
4,370

154
4,347

157
4,664

180
5,048

7
8

2,854
9

3,392
12

7,861
61

9,025
74

10,401
80

12,277 14,013 16,144
111
143
169

2,801
35

3,621
56

3,151
38

2,848
20

3,068
23

3,366
25

9
10

9
(*)
52
(*)
4
29
19
280

11
(*)
65
-1
5
39
21
394

(D)
(D)

38
37
23
(*)

41
39
29

1
24
631

1
22
722

1
26
896

2
(*)
22
13
(*)

174
63
17
(D)
2
(*)
25
15
(*)

217
74
20
(D)
2
(*)
28
16

2,438
605
255
19
25
156
90
33

2,873
685
282
21
28
181
102
38

C)

C)
(*)

(D)

C)

C)

(D)
(*)

(D)

(D)

(D)

(D)

(D)

(D)

(D)

(D)

(D)

99
5
2
25
9
12
16
(D)

111
7
1
21
11
14
21
(D)

143
10
2
23
14
13
25
(D)

1,833
945
(D)
150
136
176
40
(D)

2,188
1,186

2, 675
652

162
153
190
47
(D)

2,551
1,351
(D)
201
182
239
58
(D)

259
176
186
77
1,117

2,910
807
(D)
287
182
193
84
1,115

3,300
935
(D)
317
184
213
105
1,264

(D)

(D)

(D)

(D)

(D)

(D)

(D)

(D)

63

(P)
(D)
43
18
216

154
55
16
(D)

2

2

7

26

(P)
(D)

17

22

(D)

58
53
37
11
2
4
20
1,059

65
78
40
12
4
4
20
1,299

71
98
46
13
5
5
23
1,609

3
32
116
3
107
4
2
1,101

3
53
138
4
129
3
2
1,592

3
35
182
4
173
2
3
965

18
2
(*)
(*)
(*)
(*)
(*)
426

19
4
(*)
(•)
(*)
(*)
(*)
380

21
5
(*)
(*)
*
(*)
(*)
378

11
12
13
14
15
16
17
18

3,318
767
309
22
30
207
118
41

3,667
992
353

4,059
1,149
403

4,604
1,304
455
(D)
64
358
185
142

198
126
73

(D)
(*)

(D)
(*)

161
95
51
(D)
(*)
24
10
5
2
(*)
2

29
13
7
3
(*)
1

221
145
83
(D)
(*)
33
15
8
4
(*)
1

271
206
128
1
21
2
33
9
9
(*)
1

284
218
134
1
23
3
35
10
10
(*)
1

299
226
140
1
23
3
38
7
11
(*)
1

19
20
21
22
23
24
25
26
27
28
29

(D)

(D)

(D)

1

1

1

30

66
45
(*)
(*)

71
52
(*)
(*)

65
6
4

3

66
(D)
(D)
5
7
2
(*)
8

73

3
1
1

77
58
(*)
(*)
4
3
(*)

31
32
33
34
35
36
37
38

C)1

27

(D)

50
268
144
103
27

(D)

(P)
61
318
162
118
(D)
(*)
32

(D)

C)

39

(D)
(*)

(*)

805

1,053

495

710

927

(D)

(D)

(D)

867
1,005
395

961
1,173
473

1,106
1,378
528

713
834
331

783
972
396

894
1,122
440

18
2
10

21
2
12

33
2
19

47
143
20

56
166
23

65
212
24

88
26
35

100
33
42

115
41
45

11
(D)
1

10
(D)
1

9
(D)
1

9,462
9,856 10, 983 12, 331 7,650 8,458
850
906
980
535
606
560
2,012 2,297 2,617
1,497
1,921
1,693
522
574617
348
412
379
2,139 2,402 2,687
1,787
1,985 2,206
2,975
3,324 3,795 2,396 2,664 3,017
1,357
1,480
1,636
1,088
1,300
1,176
8,959
9,931 11,178 6,928 7,663 8,603
14, 698 16,419 18,541 11,351 12, 631 14, 245

254
24
34
(*)
65
83
48
116
362

292
27
41
1
77
92
54
131
418

341
30
49
1
95
105
61
151
474

779
121
235
44
66
192
120
753
1,188

887
134
271
49
76
219
137
837
1,333

1,001
145
308
53
87
254
153
950
1,510

1,173
171
246
130
221
304
102
1,162
1,798

1,347
184
292
145
263
350
113
1,300
2,037

1,527
199
338
151
298
419
121
1,474
2,312

407
3
133
28
116
96
30
125
257

439
3
122
31
133
114
37
146
292

460
3
99
48
135
133
43
147
320

7,885
2,013
5,871

116
35
80

144
39
105

180
46
134

461
132
328

552
142
409

656
160
496

740
225
515

897
252
645

1,084
293
791

93
33
60

126
43
83

24,840 28,409 32,558 19,584 22,439 25, 724
1,073
1,212
1,370
579
658
740
1,096
1,226
1,360
840
942 1,044
681
762
838
572
640
704
5,328 6,261
7,348 4,355 5,129
6,035
1,892
2,274 2,661
1,415
1, 730 2,024

1,202
359
35
9
167
367

1,354
395
38
10
185
412

1,558
449
43
11
208
486

1,525
56
84
37
262
37

1,724
66
92
42
303
44

1,960
74
101
46
351
50

2,529
80
137
63
544
73

2,892
93
154
70
642
89

3,317
106
173
77
754
101

506
28
12
4
207
5

635
35
14
4
285
6

8,218
2,201
6,017

9,805
2,513
7,292

5,416
1,551
3,865

6,625
1,767
4,858

47

(D)

7
2
(*)
6

571

6,732
1,943
4,789

Line

1975

(D)
(D)

4
8
2
(*)
10

6

27
1
7

30
1
7

39
40
41
42
43

383
(*)
36
27
168
106
47
202
495

431
(*)
38
31
198
117
48
217
553

481
(*)
43
34
223
130
50
241
610

44
45
46
47
48
49
50
51
52

156
56
100

277
57
220

314
64
251

344
70
274

53
54
55

662
37
15
5
263
7

774
158
34
17
128
38

866
190
36
19
141
40

988
214
40
20
157
45

56
57
58
59
60
61

(*)

(*)

29
(D)

(*)

14, 770 16, 674 18, 980 11, 823 13,341

15,176

266

313

361

1,049

1,178

1,337

1,633

1,843

2,106

250

292

335

400

439

511

62

28,129
6,114
3,491
18,525

25,445
5,137
2,966
17,342

614
137
96
382

675
153
108
414

729
151
116
463

1,804
382
55
1,367

1,991
407
55
1,529

2,189
454
58
1,678

3,631
908
531
2,191

3,924
989
549
2,386

4,187
1,053
566
2,568

994
308
259
427

1,085
325
264
497

1,219
368
275
577

1,499
475
496
527

1,596
512
492
592

1,682
522
518
642

63
64
65
66

135, 791 151, 715 170, 751 105,821 118,179 132,814

12, 894 16, 777 18,606

20, 888

3,798

4,710

4,375

4,500

4,821

5,228

67

1,017

1,272

175

217

258

254

272

293

68
69
70

30,394 32,551 22,081
6,494 6,795 4,687
3,544 3,706 2,809
20, 356 22,050 14,585

23,804
4,945
2,833
16,026

3,144

3,567

4,155

10,049

11,363

7,057

161

179

207

590

665

753

128,277 143,378 161,462 100,075 111, 819 125, 757
288
429
181
114
172
66

2,983
-73

3,388
-84

3,949
-103

9,459
-129

10,698
-126

12,141
-167

15, 760 17,473 19, 615
376
468
386

3,623
-640

4,493
-967

4,116
-484

4,247

4,549

4,935
(*)

128,565 143,807 161,643 100,189 111, 991 125,824

2,910

3,304

3,846

9,329

10,572

11,973

16,137

17,941

20,001

2,983

3,526

3,632

4,247

4,549

4,935

71

23,495
23,896

501
500

555
552

624
590

1,824
2,025

2,039
2,200

2,279

3,287
3,609

3,671
3,863

244
287

312
296

334
345

784
709

886
817

975
863

72
73

178,875 199,431 222,459 139,371 155,374 173,214

3,911

4,410

5,059

13,178

24, 837 27,534

3,514

4,133

4,311

5,739

6,252

6,773

74

6,625
590

7,198
613

7,988
633

5,769
2,284

9,636 10,124 10,586
365
408
407

6,708
856

7,183
870

7,677
882

75
76

7,514

8,337

24,301 27,060
26, 008 28,563

6,474 7,104
27, 631 28,071

9,288

5,746

30,068 19,012
30, 747 20,170

7,788
28,563

See footnotes on page 32.




6,575
21,198

6,360

21,180
22,202

7,219
21,522

7,911
21,896

2, 398

2,965
3,313

14, 811 16,651

22,415

7,007
2,376

6,298
3,559

6,368
2,326

1,133

6,878
3,611

7,528
3,658

By L. A. LUPO

Capital Expenditures by Majority-Owned Foreign Affiliates of I.S.
Companies, 1978 and 1979
1 HE first part of this article presents
initial estimates for 1979—and revised
estimates for 1978—of planned capital
expenditures by majority-owned foreign
affiliates of U.S. companies.1 The second
part uses regression analysis to examine

trends in manufacturing affiliates' capital expenditures, and the relationship
of capital expenditures to host-country
manufacturing output, wholesale prices,
and exchange rates for the 1966-77
period.

Latest Plans
FOREIGN affiliates plan a 16-percent increase in capital expenditures in 1979,
to $36.8 billion, following a 15-percent increase this year. There are strong increases
in both years in many areas and industries (table 1 and chart 11). In the preceding
decade, the compound growth rate was 11 percent per year.
The latest plans for 1978, reported in
June, show a 15-percent increase, compared with a 10-percent increase reported 6 months earlier (see "Revisions" in the technical note). The
upward revision occurred because 1977
expenditures were revised downward;
the dollar amounts of 1978 spending
are little changed from earlier plans.
By industry, 1978 spending by petroleum affiliates has been lowered and
that by manufacturing affiliates raised
from earlier plans.
NOTE.—Estimates were prepared by Jeffrey
H. Lowe, under the general supervision of
Christopher Emond.
1. Capital expenditures are expenditures that are made to
acquire, add to, or improve property, plant, and equipment,
and that are charged to capital accounts. They are on a gross
basis; sales and other dispositions offixedassets are not netted
against them.
A majority-owned foreign affiliate is a foreign business
enterprise in which a U.S. company owns, directly or indirectly, at least 50 percent of the voting rights.
These data are universe estimates based on BEA's semiannual sample survey. The latest survey, taken in June
1978, covered about 4,500 majority-owned foreign affiliates.
See the December 1973 SURVEY OF CURRENT BUSINESS,

pp. 21-23, for a description of the methodology used in preparing the estimates.
42




Capital expenditures are reported to
BEA in current dollars. Consequently,
spending plans are affected not only
by changes in the prices of goods and
services used in capital projects, but
also by changes in the value of foreign
currencies relative to the dollar. Affiliate spending plans for 1978 and 1979
were made during a period when a
number of leading countries were experiencing both inflation, and a sharp
appreciation of their currencies against
the dollar. In combination, these developments tended to increase the cost,
expressed in dollars, of capital projects
that require expenditures of appreciating currencies. It is not possible
to assess quantitatively the impact
of the changes on expenditure plans,
because the necessary data—including
price indexes for affiliate capital expenditures in each country, length of time
lags between an appreciation and its
effect on affiliate plans, the proportion
of affiliate expenditures in each currency, and exchange rates used by
reporters to convert such expenditures
into dollars—are lacking. However, it
is likely that appreciation and inflation

account for more, and additions to
productive capacity for less, of recent
increases in spending and in spending
plans than in the preceding decade.
In constant-dollar terms, the growth
of productive capacity probably has
slowed.
By area, sizable increases are planned
in developed and developing countries
in both 1978 and 1979 (table 2). In
developed countries, a 16-percent increase, to $27.1 billion, is planned for
1979, following a 14-percent increase in
1978. In developing countries, a 16percent increase, to $8.1 billion, is
planned, compared with a 25-percent
increase this year. In "international and
unallocated7'—which consists of affiliates, mainly in shipping, that operate
in more than one geographic area—a
14-percent increase, to $1.6 billion, is
planned, following a small decline.
By industry, petroleum affiliates plan
a 21-percent increase in 1979, to $12.3
billion, compared with a 9-percent increase in 1978. The step-up is primarily
in developed countries. Manufacturing
affiliates plan a 15-percent increase, to
$17.4 billion, following a 19-percent increase; the deceleration is in developed
countries. As a group, affiliates in industries other than petroleum and
manufacturing, in both developed and
developing countries, also plan smaller
increases in 1979.
The planned distribution of spending
by area and industry is about the same
in both years. By area, 74 percent of
the total is in developed countries, 22
percent in developing countries, and
4 percent in "international and unallocated" (table 3). By industry, 33 percent of the total in 1979 is in petroleum,

October 1978

SUEVEY OF CUKRENT BUSINESS

47 percent in manufacturing, and 19
percent in other industries as a group.
Compared with this year, the share of
petroleum is up slightly, and the shares
of manufacturing, and other affiliates
as a group, are down, mainly because
of changes in developed countries.
Petroleum
Petroleum affiliates plan a 21-percent
increase in 1979, to $12.3 billion,
following a 9-percent increase this year
(table 4). The step-up is largely in the
United Kingdom and Canada. In most
other countries, affiliates plan much
smaller increases, or declines, in 1979
spending. (The 1979 estimates for petroleum, particularly by country, may be
substantially revised in subsequent surveys, because a number of petroleum
companies could not provide reliable
estimates so far in advance of actual
expenditures.)

In the United Kingdom, spending is
expected to increase 40 percent, to $3.9
billion, following an 18-percent increase
this year. The increases in both years
reflect expenditures for North Sea exploration and development, as well as
for refineries, pipelines, and associated
facilities to bring North Sea petroleum
onshore, with some shift in 1979 to
pipelines and onshore facilities. Some
of the increases are due to unexpectedly
high costs of operating in the North
Sea, and some to inflation. In Norway,
where spending also is related to North
Sea activities, a 10-percent increase, to
$0.6 billion, follows an 18-percent increase this year.
Canadian affiliates plan a 24-percent
increase, to $2.1 billion, following a
decline in 1978. The increase is for
extracting crude petroleum from oil
sands, as well as for more conventional
CHART 11

Capital Expenditures by Majority-Owned Foreign Affiliates
of U.S. Companies
(Ratio scale

Billion $
40

M

BY AREA

BY INDUSTRY

y

20 -

Total

/

y

y

Manufacturing

10

/
/

8
-

Petroleum

/

6

4 —

_

^

—

Other Industries
\

/

/

/

\

3
"/%

2 -

<\
Trade

, . .

1
.8 —

s

J

N

Mining & Smelting

f

\\\ —
~
—
\

A-

.6

.4

.2

**

^Internati
^national
and Unallocated

Other
- Developed /
. Countries /

-

1

1

1

1

1

1 1

1

1

1

1966
68
70
72
74
76
• Planned
U.S. Department of Commerce, Bureau of Economic Analysis




1

1
78

1

I
1966

I
68

I

I
70

I

I
72

I

I
74

I

I
76

I

I
78

I

43
exploration and development and for
refineries.
In France, Germany, and the Netherlands, where most affiliates are engaged
in refining and distribution, moderateto-large increases are planned in both
years. In Australia and Japan, slight
spending increases follow large increases. In Australia, rapid growth in
1979 in spending for exploration and
development is offset by slowing growth
in refinery and pipeline projects. In
Japan, spending growth is slowing, after
a large increase in 1978 for liquefied
petroleum gas facilities, pollution controls, and storage facilities needed to
assure a 90-day supply of petroleum as
required by the Japanese Government.
In most developing countries, smaller
increases or declines are expected to
follow large increases this year. In
Saudi Arabia—which is in "other
Middle East"—spending is slowing on
some large projects, including exploration and development, a natural gas
collection network, additional port facilities, and a saltwater injection system
to assist in more complete extraction of
petroleum. Spending by affiliates in
a
other Africa"—mainly in Libya, Nigeria, Egypt, and Cameroon—is also
slowing. The spending in Libya in both
years is for development of a new production area, and for facilities to export
liquefied petroleum gas. In Indonesia,
spending is expected to decline 17
percent, following a 61-percent increase in 1978; the 1978 increase reflects
deferrals from 1977, when affiliates were
uncertain about the outcome of negotiations with the Indonesian Government on production-sharing and tax
arrangements.
In "international and unallocated/7
affiliates plan a 31-percent increase, to
$0.7 billion, following a sharp decline
this year. The increase reflects a modest
recovery in the tanker market in response to increased demand for petroleum by importing countries, and includes large expenditures to modernize
and purchase used tankers and to construct new tankers. Affiliates also plan
construction of natural gas tankers.
Manufacturing
Manufacturing affiliates plan a 15percent increase, to $17.4 billion, fol-

SURVEY OF CURRENT BUSINESS

44
lowing a 19-percent increase this year.
Large increases in spending are planned
in chemicals, rubber, and electrical and
nonelectrical machinery.
In developed countries, affiliates plan
a 13-percent increase, to $14.5 billion,
following an 18-percent increase this
year (table 5). In Canada, a 25-percent
increase, to $3.8 billion, follows an 8percent increase; the increase is particularly large in chemicals, nonelectrical
machinery, and transportation equipment. The increase in chemicals is
partly for plant modernization and
expansion; it also reflects deferrals, to
1979, of some expenditures previously
planned for 1978. In nonelectrical
machinery, affiliates manufacturing
computers plan a substantial increase
in the capitalization of computer equip ment for rental. The increase in transportation equipment is for expansion
and retooling by automotive affiliates,
partly reflecting deferrals from 1978.
In contrast, the paper industry plans
lower spending, as previously started

October 1978

Table 2.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies,
Selected Areas and Industries, Latest Plans for 1978 and 1979
1978

Total

Petroleum

1979

Industries
other than
manufacTotal
turing and
petroleum *

Manufacturing

Petroleum

Manufacturing

Industries
other than
manufacturing and
petroleum l

Percent change from preceding year
All areas

Developed countries
Developing countries
International and unallocated
_

15

9

19

17

16

21

15

12

14
25

8
24

18
25

12
30

16
16

27
7

13
26

10
19

—5

—33

25

14

31

5

Millions of dollars

Allareas

31,768

10,190

15,164

6,413

36,831

12,292

17,384

7,156

23,371
D eveloped countries
6,985
Developing countries
International and unallo1,412
cated

6,344
3,332

12,886
2,278

4,140
1,375

27,146
8,070

8,058
3,562

14,518
2,866

4,571
1,641

898

1,615

672

514

942

1. Consists of mining and smelting, trade, and the "other" industries shown separately in table 1.

modernization programs near completion; weak prices for paper products are
inhibiting new investment.
In France, affiliates plan to increase
spending 10 percent, to $1.2 billion,

compared with virtually no change
this year; the increase is mainly in
nonelectrical machinery—particularly
computers—and in chemicals and
metals. In most other European coun-

Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1974-79
Percent change from preceding year
Actual expenditures
1974

Total _

1975

1976 »•

Latest plans
1977

1978

l

Billions of dollars

Earlier plans

1979

23

2

Actual expenditures

Latest plans i

1977

1978

1973

1974

1975

1976'

10

10

20.5

25.3

26.8

24.7

1977
27.5

Earlier plans *

1978

1979

1977

1978

31.8

36.8

28.7

31.6

.6
10.2

.7
12.3

.7
10.4

.7
11.7

By industry

Mining and smelting.
Petroleum

-2
23

Manufacturing _

26

-3

Food products..
Paper and allied products
Chemicals and allied products...

24
40
54

-21
25

Rubber products
Primary and fabricated metals..
Machinery, except electrical
Electrical machinery
Transportation equipment..
Other
.___

6
-14
19

3
-5
-10

26
29
30

-23
-11
10

26
27

4
13

Trade.
Other..

-21
-11

22
21

-4

15

1.1
6.4
9.2

10
-9
24

25
28
-15

.6
.6
1.4

25
-12
19

-4
-17
26

.3
.8
2.6

-9
-4
-14

19
15
14

16
27
17

.9
1.2

-32
9

14
9

23
-5

C)
-15
10
-22
-1
A

1.1

1.2

7.8

8.9

11.6

11.3

.9
7.9
12.7

15.2

17.4

12.2

13.7

.7
.6
2.7

.7
2.4

1.1
1.0
2.5

1.2
.9
3.1

.8
.7
2.3

1.0
.8
2.5

.4
.7
2.8

.3
.7
2.7

.3
.7
3.6

.3
.7
4.3

.4
.6
5.1

.4
.6
3.4

.5
.4
3.8

10.9

.7
.9
2.1
.4
.7
3.1
1.1
1.6
1.1

.7
.7
2.5

1.4
1.3

1.4
1.1

1.0
1.8
1.3

1.1
2.6
1.5

1.3
3.0
1.7

1.0
1.8
1.3

1.0
2.1
1.5

1.7
2.0

2.1
2.6

2.4
3.1

1.6
3.3

1.8
3.1

2.0
3.8

2.3
4.1

2.2
3.2

1.9
3.6

23.7

By area

Developed countries

-5

Canada
Europe
European Communities (9)
France
Germany
United Kingdom
Other..
Other
Japan.
_
Australia, New Zealand, and South
Africa

_

Developing countries _
Latin America
.
Other Africa
Middle East
Other Asia and Pacific..

14

16

12

14.2

17.8

18.8

17.8

20.4

23.3

27.1

21.2

10

1

22

1

4.2

5.5

5.0

5.6

6.2

6.2

7.5

5.9

5.9

14

-11

18

20

15

17

8.3

10.2

11.7

10.5

12.4

14.9

17.1

13.2

15.5

13
22
-9
37
(*)
22

-11
-37
-9
-1
-6

21
22
5
32
14
6

21
6
37
25
5

15
14
6
20
11
15

18
-8
25
25
12
11

7.3
1.3
1.9
2.4
1.6
1.0

1.5
2.3
2.7
2.4
1.4

1.9
2.1
3.6
2.3
1.8

8.8
1.2
1.9
3.6
2.2
1.6

10.7
1.5
2.0
4.7
2.5
1.7

12.9
1.6
2.7
5.9
2.7
2.0

14.8
1.8
2.9
7.1
3.0
2.3

11.4
1.5
2.0
5.5
2.3
1.9

13.4
1.4
2.5
6.9
2.6
2.1

14

1

.6

.6

.9

1.1

1.0

1.1

1.3

1.4

1.3

1.4

5.9

6.6

20
(*)

9

18

9

1
22
55
20

2
28
31
2

International and unallocated.
* Less than 0.5 percent (±).
r Revised, see the technical note at the end of the article.




15

15
23
16
25
27
37
Q

57
-5

12

9
16
25
21
-6
10

-7
31
35
14

1.0

1.2

1.2

12

4.2

5.4

6.4

5.1

5.6

7.0

8.1

13
24
-4
21

2.3
.4
.8
.7

2.9
.6
1.1

3.1
.7
1.3
1.3

2.6
.6
1.1
.8

2.6
.7
1.4
.8

3.3
1.0
1.4
1.3

4.1
1.2
1.3
1.5

2.7
.8
1.4
.9

3.1
1.0
1.4
1.1

-12

2.1

2.0

1.7

1.8

1.5

1.4

1.6

1.6

1.4

1. Based on the BE A survey taken in June 1978.
2. Based on the BEA survey taken in December 1977.

October 1978

SUEVEY OF CURRENT BUSINESS

Table 3.—Distribution of Capital Expenditures by Majority-Owned Foreign Affiliates of
U.S. Companies, Selected Areas and Industries, Latest Plans for 1978 and 1979
[Percent of total]
1978

1979

Manufacturing

Total

Petroleum

100

32

48

74
22

20
10

41
7

4

2

All areas
Developed countries
Developing countries
International and unallocated

Industries
other than
manufacturing and
petroleum l

Industries
other than
manufacturing and
petroleum *

Manufacturing

Total

Petroleum

20

100

33

47

19

13
4

74
22

22
10

39
8

12
4

3

4

2

3

1. Consists of mining and smelting, trade, and the "other" industries shown separately in table 1.

Table 4.—Capital Expenditures by Majority-Owned Foreign Petroleum
Affiliates of U.S.
Companies, Selected Countries, 1977-79 l
Percent change from
preceding year
Actual
expenditures

All areas
Developed countries
of which:
Canada
France
.
Germany
Netherlands
United Kingdom
Norway
Japan..
Australia

_
.

Developing countries
of which:
Argentina
Peru
Other Western
Hemisphere
Other Africa 3
of which:
Libya
Nigeria
Middle East
Iran
_
Other
Indonesia

Actual
expenditures

Latest plans

1978

1977

Millions of dollars

1979

Latest plans

1978

1977

1979

18

21

9,317

10,190

12,292

26

27

5,856

6,344

8,058

24

1,669
(D)
308
115
2,822
527
(D)
262

2,068
164
351
144
3,947
581

3,562

19
37
-16
35
36
10
72
59

-9
D
)
56
33
18
18
40

2

1,832
100
197
87
2,400
447
101
187

20

24

7

2,690

3,332

2
12
6
18

64

-20
34

68
64
58
35

(D)
151
644

107
(D)
237
867

105
-19
31
-35

133
60
-9
12
-10
61

20
-3
-7
128
-15
-17

77
84
1,222
58
1,164
195

179
135
1,114
65
1,049
314

213
131
1,042
148
893
260

-25

-33

31

771

514

672

)
14
25
40
10

D

()

International and unallocated

D

)

(D)

109

251
1,019

D

Suppressed to avoid disclosure of data of individual reporters.
1. See table 1, footnote 1.
2. Latin America except the Latin American Republics.
3. Africa except South Africa.

Table 5.—Capital Expenditures by Majority-Owned Foreign Manufacturing
Affiliates
of U.S. Companies, Selected Countries, 1977-79 1
Percent change from
preceding year
Actual
expenditures
1977
All areas
Developed countries
of which:
Canada
_
France
Germany
Italy
Netherlands
United Kingdom.
Spain
Japan
Australia
Developing countries...
of which:
Brazil
Mexico
Venezuela
* Less than 0.5 percent ( ± ) .
1. See table 1, footnote 1.




Millions of dollars
Actual
expenditures

Latest plans
1979

1978

Latest plans

1977

1978

1979

17

19

15

12,730

15,164

17,384

20

18

13

10,905

12,886

14,518

23
28
10
20

8

25
10
8
8
12
4
43
20
-5

2,800
1,121
1,662
599
516
2,037
253
552
333

3,031
1,125
2,243
743
731
2,623
385
602
380

3,791
1,241
2,415
805
822
2,716
551
719
361

(*)

34
-12
23
26

C)

35
24
42
29
52
9
14

(•)

25

26

1,825

2,278

2,866

(•)
-25
34

3
22
60

59
13
10

736
263
225

757
321
360

1,200
364
395

45
tries, increases are smaller in 1979 than
this year. In Germany, affiliates plan
an 8-percent increase, to $2.4 billion,
after a 35-percent increase this year.
Increases in nonelectrical machinery
and chemicals are partly offset by a
decline in transportation equipment,
when 1978 spending is unusually large
reflecting the introduction of new car
designs. In the United Kingdom, affiliates plan a 4-percent increase in spending, to $2.7 billion, compared with 29
percent this year; only the chemicals
and electrical machinery industries plan
strong increases. In Japan, affiliates
plan strong increases, which are centered in the nonelectrical machinery
and transportation equipment industries.
In developing countries, affiliates
plan a 26-percent increase, to $2.9
billion, following an increase of about
the same size this year. Most of the
increase is in Brazil, where expenditures
are up 59 percent, to $1.2 billion,
after a 3-percent increase this year.
The step-up is widespread and may
partly reflect the relaxation, in January
1978, of restrictions on the use, within
Brazil, of funds borrowed abroad.
(Restrictions were tightened again in
June.) The increases also reflect spending for facilities to raise the local
content of affiliate products; this spending is encouraged by import restrictions.
Mining and smelting,
other industries

trade, and

Mining and smelting affiliates plan
a 22-percent increase in 1979, to $0.7
billion, after a 6-percent decline in
1978. Most of the expansion is in
developed countries. In Australia,
spending plans are up 40 percent,
primarily to accelerate coal and bauxite
projects already underway. In South
Africa, spending is expected to nearly
triple; it is mainly for projects involving
uranium and copper. In Canada, a
15-percent increase, concentrated in
potash and iron ore projects, is planned.
Trade affiliates plan a 14-percent
increase, to $2.3 billion, after a 15percent increase in 1978. Most of the
1979 increase is in Brazil, where major
expenditures are planned in both retail
and wholesale trade. The 1978 increases
are concentrated in Canada, the United
Kingdom, and several continental
European countries.

SURVEY OF CURRENT BUSINESS

46

October 1978

Table 6A.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1976 l
[Millions of dollars]

AH countries.
Developed countries.

Food
Total products

24,689

10,930

Australia, New Zealand, and South
Africa

Australia
New Zealand.
South Africa..

Liberia
Libya
Nigeria
Other and unallocated.
Middle East

Iran _ _
Other and unallocated.
Other Asia and Pacific.

652

74

59

369

155

338

162

305

143

1,454

93

390

1,753

460

772

260
20
48
42
19
74
4
1
52

113
14
24

1,364
257
144
319
57
228
3
19
336

85

355
3
38
58
26
26
1
1
203

1,682
(D)
327
426
214
(D)

21
48
136
106
22
3
11
52

10,476

6

2,816

6,013

8,843
561
1,210
1,913
639
690
84
185
3,581

1
0
0
0

2,331
45
73
235
49
65
31
75
1,759

5,503
472
875
1,506
500
516
14
100
1,520

406
38
17
6
18

510
42
286
100
33
49

59

449

1,633
477
502
136
353
164

0

°

635

593

40

D

)

32

(*)

90
3
47
24

C)

658

35
25
3
4

0
3
1
(*)

1,092

1,602

3,334

1,325

2,036

226

1,095

643

881

760

626
17
127
277
9
37
(*)
(*)
158

620
37
88
236
15
38
1
67
139

660
29
186
136
58
92

349
16
75
37
32
18

149

132

146
0
143
1
1
1

24
1
4
2
6
10

222
6
40
11
145
20

411
19
138
8
169
75

64

81

100

33

137

83
3
14

21
1
11

52
19
66

804

2,679

1
543

61
(*)

4

14

86

4

67

21

44
2
21

14
1
6

2
1
2

44

177

219

354

42

152

118
23
78

265
10
79

23
1
18

262

2,235

1,833

184

114

459

120

202

265

146

189

276

227

367

1,491

137

104

408

110

121

239

138

146

224

319

179
32
27
2
21
1
3
46
2
27
18

1,472
65
738
5
73
348
6
17
168
34
20

^104

395
15
218
1
36
88
2
6
20
3

109
9
56
0
3
31
0
2
7

120
3
13
2
3
25
0
1
68
2
1

239
13
159
0
6
59
0

138

145
15
54
1

216
30
103

89

203
1
1
0
1
8
4
166
0
7
15

220
10
62
3
1
27
5
15
48
15
31

340
131
3
20
185

24
3
0
3
18

188
37
1
(*)
150

1,024
63
292

2,629
2,289
138
931
11
102
424
20
249

13
4

(*)
(*)

58
(*)

11
29
0
0
4
2

(*)

(*)

19
1

C)

10

<*)

(*)

(*)
(*)
(*)

0
(*)

(*)

152

(*)

C)

(*)
(*)

(*)

(*)

(*)
(*)

C)

(*)

(*)

2

(*)

(*)
(*)

(*)

(*)

(*)

(*)

519

100
90
1
2
7

10

12

1

2
7

5
0
4
3

(*)
(*)

(*)

137

24

C)

12

117

841

8
15

(*)
(*)

1
12

13
104

1,085

(*)

(*)
(D)

(*)

19
37
104
322

29
38
117
400

48

(*)
(•)

482

583

112
973

-

828

456

248

28
347
35
104
314

1
303
10
16
127

26
23
17
74
110

International and unallocated.

1,802

1,022

*Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.




2,414

679

127

India
Indonesia
Korea
Philippines
Other and unallocated..

D

456

318

504

5,125

Other Africa.

2,286

1,212

2,281

Latin America

Other Western Hemisphere.
B ahamas
Bermuda
Jamaica.
Other and unallocated

479

192

9,097

Developing countries.

Latin American RepublicsArgentina
Brazil
Chile
Colombia
Mexico
Panama
Peru
Venezuela
Other Central America. _
Other and unallocated

312

1,538

Europe.

TransTrade Other
Other
portaindusmanution
tries
equip- facturing
ment

2,745

489

5,628

Paper
ChemiPrimary Machinand
cals and Rubber and fab- ery, ex- Electriallied
allied products ricated cept elec- cal machinery
products products
metals
trical

689

672

Canada

Japan

934
4,632

17,762

European Communities (9) _.
Belgium and Luxembourg.
France
Germany
Italy
Netherlands
Denmark
Ireland
United Kingdom
Other
Norway
Spain
.Sweden
Switzerland .
Other

Manufacturing

Mining
All
and Petroindus- smelt- leum
ing
tries

(*)

(*)
(*)
(*)

70

39

56

45

(*)
(*)
(*)
(*)

(*)

(*)
17

41

19

23

C)

12
43
780

1. Based on the BEA survey taken in June 1977, but revised to incorporate information
obtained subsequently.

SURVEY OF CURRENT BUSINESS

October 1978

47

Table 6B.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1977 1
[Millions of dollars]
Manufacturing
MinAll
industries

ing

and
smelt-

628
502

Canada

6,169

371

Eu rope

12,399

8

10,666

5
0
0
0

European Communities (9)..
Belgium and Luxembourg..
France
Germany
Italy
Netherlands
D enmark
Ireland
United Kingdom
Other
Norway
Spain
Sweden
Switzerland .
Other
Japan
Australia, New Zealand, and South
Africa
Australia
New ZealandSouth Africa..

537

1,473
2,009
727
716
124
364

Total

(*)
0
0
1
4

4,717

9,317
5,856
1,832
3,619
3,074
19
100
197
48
87
32
191
2,400

12,730
10,905

Paper
ChemiPrimary Machinand
cals and Rubber and fab- ery, ex- Electriallied
allied
products ricated cept elec- cal matrical
products products
metals
chinery

2,435
2,054

265
176

507

706

63

82

1,228

93

414

2,601

81
12
18
8
12
1

381
3
43
72
6
35

2,479
109
535
570
341
D

221

848

33
17
6
7
2
1

122

862
661

702
612

2,800

173

443

7,132

402

142

6,590

350
12
48
65
32
103
8
9
72

127
5
23
3

1,133
221
148
149
35
157
3
18
403

469

1,121
1,662
599
516
21
164

2,037

(*)

(*)

0
30

(*)
(*)

3,648
3,359

44
2
2
5

95
2
43
38
3
10

552

32

49

(D)

303

421

53

70

(D)

103
(D)
(D)

187
19
97

333
11
77

31
1
22

53
1
16

5
1
3

0
0
1

545
447
43
24
5
26

541
38
253
149
20
80

762

1

101

1,112

122

777
52
283

1,733
542
486
191
278
237

Food
products

ing

27,507
20,443

AH countries..
Developed countries..

Petroleum

4
3

(*)

52
(*)

C)

(*)

12
0
3
2

979
786
188
549
486
58
49
156
96

(*)

Transportation
equipment

Other
manufacturing

1,840
1,657

1,304
1,094

25

Other
industries

1,762
1,399

3,070
1,780
962

583

185

203

922

780

1,000

639

796
25
169
363
13
54
(*)
3
170
126
0

757
25
88
276
21
42
1
132
173

715
34
192
131
59
95

282
15
60
18
20
17

19

4

Trade

182

23

357
35
144
(*)
99
79

1

2
13

19
46
18
152
50

16

75

67

40

136

44

128

13 7

116

31
1
12

64
15
49

90

1

5,575

126

2,690

1,825

201

382

188

193

183

210

363

571

2,564

81

412

1,464

145

329

147

260

113

174

138

281

327

Latin American RepublicsArgentina
Brazil
Chile
Columbia
M exico
Panama
Peru
Venezuela
Other Central America. _
Other and unallocated-..

2,278

261
64
33
4
42
2
3
(D)
12
31

1,448

219
970
17
138
339
22
90
335
84
66

60
4
12
2
1
5
2
(D)
0
5
(D)

145
4
44
(*)
6

318
11
186
1
24
54

147
12
22
2
3
14
0

260
13
177
0
12
56
0
(*)

110
4
85

174
12
113

137
15
67

272
31
122
1
8
54
2
1
45
5
4

237
39
67
4

Other Western Hemisphere.
Bahamas
Bermuda
Jamaica
Other and unallocated

287
93
2
16
175

21
1
0
2
18

151
9
1
(*)
140

749

6

644

55
77
104
513

3
0
0
3

21
77
84
461

1,417

1

Developing countries.
Latin America

Other Africa.
Liberia
Libya
Nigeria
Other and unallocated _
Middle East
Iran
Other and unallocated _
Other Asia and Pacific.
India
Indonesia
Korea
Philippines
Other and unallocated.
International and unallocated.

79

1,337
845
24
236
83
106
397

1,489

50
3
2
24
8
4

17

C)

11
4

(*)
(*)
(*)

(*)
(*)

C) t

0

(*)

(*)

(*)

(*)

C)

(*)f

(*)

(*)

(*)
(*)
21

(*)

(*)

(*)

1,222

39

(*)

(*)

58
1,164

9
30

(*)
(•)

39

413

280

0
11
0
0
28

1
195

21
13
47
69
129

(*)

()
42
12

82
0
1
6

1
2
6

43

1

30
0
3
11

(*)
21

(*)

10

C)

141
(*)

55
(*)
(*)
(*)

1

15
9
9
52
17
23

15

(*)

(*)

(*)
(*)

(*)

(*)

0
0

(*)

(*)

(*)

(*)

1

41

(*)

(*)
(*)

0
13
28

1
13

11
130

53

60
(*)

C)
(*)

(*)

(*)
(*)

D

(

39
(*)

771

* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual reporters.




81
736
6
86
263
5
8
225
26
12

1. See footnote 1, table 1.

31
718

SURVEY OF CURRENT BUSINESS

48

October 1978

Table 6C—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1978
[Millions of dollars]
Manufacturing

All
industries

Mining
and
smelting

Petroleum

31,768

592

10,190

15,164

1,128.

1,040

2,484

283

705

4,298

1,103

2,599

1,524

2,034

3,787

23,371

455

6,344

12,886

840

902

1,985

192

530

3,966

836

2,323

1,314

1,671

2,014

Canada

6,203

243

1,669

3,031

200

549

795

78

83

382

187

544

214

264

997

Europe

14,936

8

4,201

8,776

511

322

1,067

94

428

3,276

588

1,538

952

1,116

835

3,548
39
(D)
308
(D)
115
D
()
53
2,822

8,085
432
1,125
2,243
743
731
34
154
2,623

430
17
51
53
29
165
14
12

304

971
179
81
148
61
149
3
32
317

84
15
26
9
11
3

400
8
32
96
11
46
(*)
(*)207

3,134
122
573
667
355

514
26
55
175
131
26
5
8
88

1,326
(D)
187
723
11
(D)
8
(D)
282

923
25
99
370
66
40
2
99
223

860
26
218
171
61
108
32
2
241

652
527
56
33
7
29

691
24
385
165
34
83

28
10
8
4
5
1

142
(*)
13
106
3
19

29

AH countries
Developed countries..

European Communities (9)..
Belgium and Luxembourg.
France.
Germany
Italy
Netherlands
Denmark
Ireland
United Kingdom
Other
Norway
Spain
Sweden
SwitzerlandOther
Japan
Australia, New Zealand and South
Africa
Australia
New ZealandSouth Africa..
Developing countries.
Latin America
Latin American Republics.
Argentina
Brazil
Chile
Colombia
Mexico
Panama
Peru
Venezuela
Other Central America.-.
Other and unallocated
Other Western Hemisphere.
Bahamas
Bermuda
Jamaica
Other and unallocated
Other Africa.

12,945
516
1,562
2,743
881
972
153
215
5,903

(*)

1,991
619
620
224
260
268
937
1,294

203

137

3,257

78

2,860
305
1,100
38
171
386
29
122
480
134
95

55
4
5
(D)

397
128
3
22
245

24
(*)
0

6
3
10
0
11

39
1
18

,1
3

3,332

2,278

499

175

603

1,829

366
107
60
3
37
1
6
(D)

1,805
114
757
22
124
321
8
14
360
68
17

C)

25

237
34
2
(*)
201

25
1
(*)
14
10

Middle East

1,372

1,114

63

Iran
Other and unallocated .
Other Asia and Pacific.

109
1,263

65
1,049

27

1,330

747

322

24
373
70
180

1
314

21
18
15
121
146

*Less than $500,000.




(*)

57

28
179
135
526

1,412

(*)

478

90
179
172
585

International and unallocated.

0
65
18
1
6
7
2
2

(*)

380
16
82

867

India
Indonesia
Korea
Philippines
Other and unallocated..

21
3
68
137

262
(D)
44

1,026

Liberia
Libya
Nigeria
Other and unallocated.

Paper
ChemiPrimary Machinand
cals and Rubber and fab- ery, exallied
allied
products ricated cept elecproducts products
trical
metals

Electrical machinery

1,332

Transportation
equipment

212
0

74
(

()

Other
manufacturing

)

()
352

(*)
139
206
205
6
64
1
14
55
4
1
33
22
6

409

114

127
127

392
16
170
2
18
64
(*)
8
109
4
2

113
(*)r

(*)

C)

25
3
21
0
(*)

(*)
(D)

(*)

65

(*)
(D)

333
299
299
25
199
0
11
61
0
(*)

2

147
16
91

C)

D

160
85
23
52

186
185
16
58
1
48

258
)
103
)

9
0

70

59
1
210

258

151

132

10

276

267

10
77

(*)

15
(*)

1
(*)

(*)

C)

31
35

(*)

C)
(*)

(*)

(*)

1

C)

122
(*)
117
109

876
482
382
54
144

D

1
17
10
)
91
24
22
100

(*)
(*)

(*)

C)

72

1

58
0
3
11
166
15
151

(*)
16

()
(*)
(D)

(*)

(*)
(*)

155

19

(*)

(*),

Suppressed to avoid disclosure of data of individual reporters.
1. See footnote 1, table 1.

30

103

C)

514
D

7

16

(*)

81

C)
C)

17

(*)

(*)
(*)
C)
(*)

21

254
27
134
1
8
41
3
1
28
6
5

(*)

(*)

19

264

(*)

(*)
0
28
36

Other
industries

362

10

4
0
0

(*)

(*)

Trade

256
27
56
26
102
46

)

602

1,003
61
230
6,985

Total

Food
products

898

SURVEY OF CURRENT BUSINESS

October 1978

49

Table 6D.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1979 *
[Millions of dollars]
Manufacturing
MinAll
ing Petroleum
indus- and
tries smelting

Food
Total products

Paper
ChemiPrimary Machinand
cals and Rubber and fab- ery, ex- Electriallied
allied products ricated cept elec- cal mametals
products products
trical
chinery

TransTrade Other
Other
portaindusmanution
tries
equip- facturing
ment

All countries...

36,831

722

12,292

17,384

1,242

943

3,075

354

617

5,117

1,318

2,978

1,740

2,311

4,123

Developed countries.

27,146

611

8,058

14,518

884

839

2,398

251

475

4,697

1,007

2,642

1,325

1,703

2,257

Canada

7,549

279

2,068

3,791

236

489

1,126

102

580

252

733

175

306

1,105

Europe

17,117

6

5,520

9,520

512

314

1,112

103

361

3,739

684

1,637

1,058

1,124

947

14,830
508
1,773
2,921
932
1,089
164
347
7,098

3
0
0
0

4,792
54
164
351
30
144
43
60
3,947

8,705
397
1,241
2,415
805
822
32
277
2,716

431
20
37
75
15
142
6
15
120

294
7
24
3
60
122
(*)

1,011
106
86
195
52
159
5
34
374

94
25
25
10
11
3

340
15
40
103

3,625

593
33
61

1,304
(D)
195
(D)
18
104
7
2

1,012
23
108
373
44
60
2
217
185

870
29
269
133
70
112

459
28
98
22
26
13

231

201

728
581
64
41
8
33

815
24
551
110
34
96

333
0

45

254

487
47
162
(*)
127
151

European Communities (9)..
Belgium and Luxembourg.
France
Germany
Italy
Netherlands
Denmark
Ireland
United Kingdom
Other...
Norway
Spain
Sweden
Switzerland.
Other

(<)

o
0
(*)

2,287
662
860
165
265
336

102
1
77
11
3
10

(*)

19

58
2
22

14
1
4

105

677

103

142

420

311

84

561

126

382

200

84

544
16
295
2
22
103
(*)

125
17

382
31
253
0
15
81
0

195
22
145

111

3,562

2,866

358

4,077

85

661

2,367

246

Latin American Republics.
Argentina
Brazil
.
..
Chile
Colombia
Mexico
Panama
Peru
Venezuela
Other Central America. _
Other and unallocated- -.

3,652
384
1,685
24
197
427
36
146
519
139
94

64
4
3

410
109
56

2,342
166
1,200
6
124
364
10
14
395
49
15

246
7
75
(*)

Other Western Hemisphere.
Bahamas
.
...
Bermuda
Jamaica
Other and unallocated

424
120
3
22
280

Other Africa _

Liberia
Libya
Nigeria
Other and unallocated_
Middle East

Iran
Other and unallocated _
Other Asia and Pacific.

0
15
11

(D)
(*)
46
25

251
10
2
(*)

25
1
(*)
14
10

1,239

1,019

61

152
214
175

32
213
131
643

35
26

1,042

85

21
(*)
0

1,285
195
1,090

(*)

C)

148
893

28
57

1,469

19

840

353

20
304
91
199
855

0
7
0
0
12

1
260

17
15
48
1£6
137

International and unallocated.

1,615

517




27

<*)

C)

(*)

(*)
(*)

(*)

(*)
(*)

(*)

C)
(*)

(*)
(*)

(*)

(*)

(*)

C)

127
77
14
37

94

326

415

607

923

326

356

490

474

326
46

355
19
172

480
23
361
1
4
36
3
2
36
7
5

358
82
65

C)

11
(*)

116
108

(*)

2
7

D
D

o

1
77
0
0
0
0
0
0
0

(*)

)
)

(*)

()
(D)

(*) e

10

146

35

35
1
2

38

(*)

(*)

(*)

(*)

(*)
(*)
(*)

2
20
13
22
37

20

132

]
12

116
0
3
14

(*)

24

134

(*)

1
22

17
117

C)

(*)
(*)

74

111

(*)
(*)

(*)

(*)
(*)

(*)
)

48

(*)

3
1
3
11
56

(*)

672

* Less than $500,000.
Suppressed to avoid disclosure of data of individual reporters.

D

C)

83
15
95

(*)

India
Indonesia
Korea...
Philippines
Other and unallocated _

()

140

81

41
3
34

8,070

(D)

38

78

268
(D)
(D)

1
7

132

487

267
1
57

%

34

361
26
100

325

1,067
63
277

D

38
26

1,408

6
3

(*)

79

Australia, New Zealand, and South
Africa

Latin America

113

C)

57

1,072

Developing countries.

1
1,412

719

Japan

Australia
New Zealand .
South Africa..

78

(*)
(*)

(*)

664
820
452

1. See footnote 1, table 1.

183
(*)

21

(D)
132
942

50
Affiliates in "other" industries—
agriculture, public utilities, transportation, construction, and finance and
other services—plan a 9-percent increase, to $4.1 billion, after a 23-percent

SURVEY OF CURRENT BUSINESS
increase this year. In 1979, the increase
is concentrated in Canada and "other"
Europe; in 1978, sizable increases are
planned in a number of developed and
developing countries.

Manufacturing Affiliates Capital Expenditures and Host-Country
Output, Prices, and Exchange Rates
THE first part of this article mainly dealt with affiliate spending plans in 1978 and
1979, with particular attention to larger projects. This part puts spending of
manufacturing affiliates in a long-run perspective; it applies regression analysis
to (1) test the extent to which spending can be explained by a compound growth
equation and (2) examine the relationship of affiliates' spending to manufacturing
output, prices, and exchange rates.
The main findings are:
• Capital expenditures in most countries are increasing fairly steadily at a
10- to 13-percent average compound growth rate.
• The increase in capital expenditures is mainly a response to growth in
host-country output.
• Inflation in a host country has a small positive impact on capital expenditures.
• Appreciation of a host-country currency has a small negative impact on
capital expenditures.
The analysis covers capital expenditures by majority-owned foreign manufacturing affiliates of U.S. companies
(CEM) in 11 host countries—Canada,
Belgium, Denmark, France, Germany,
Italy, the Netherlands, Sweden, Switzerland, the United Kingdom, and
Japan. Use is made of Bureau of Labor
Statistics indexes for these countries of
output in manufacturing (OM) and of
foreign exchange rates (ER) and of
United Nations indexes of wholesale
prices (WP).2 Each of the indexes has a
base of 1967=100.
The analysis covers 1966-77, years
for which BEA has estimates of actual
CEM in the 11 host countries; for
those years, CEM in the 11 host
countries accounted for, on average, 77
percent of worldwide capital expenditures by manufacturing affiliates of
U.S. companies.
A 12-year period does not provide a
sufficient number of data points to
2. Bureau of Labor Statistics data are from a May 1978
Press release "International Comparisons of Productivity
and Labor Costs in Manufacturing," and related documents;
United Nations data are from various issues of the Monthly
Bulletin of Statistics, and the 1975 edition of the Statistical
Yearbook. The data used in the computations are available
from the Bureau of Economic Analysis (BE-50), U.S.
Department of Commerce, Washington, D.C. 20230.




assess, for each country separately, the
effect on CEM of changes in OM, ER,
and WP. Therefore, data are pooled to
provide 132 data points (11 countries
times 12 years), and regression techniques are applied to the pooled data
(see technical note).
CEM growth rate
This section examines the extent to
which changes in CEM can be explained
by the following compound growth
equation:
CEMt=A(CEMoa)ert,
where CEMt is the value of CEM in
year t; CEM0 is the value of GEM in
1966 (the initial year); and t is a time
trend which takes the values 1,2,. . .,
11 for the years 1967, 1968, . . ., 1977.
The coefficients (^4, a, and r) are estimated from an ordinary-least squares
regression on the logarithmic (In) form
of the above equation:

October 1978

Equation (1) explains 97 percent of
the variation in CEM (the equation H2
is 0.97). The ^-ratios indicate that the
coefficients r and a are significantly
different from zero at the 1-percent
level; in the equation, r=0.10—i.e.,
CEM grows at 10 percent per year—and
a=1.0. LnA is not significantly different
from zero; therefore, the equation intercept (the value of lnCEMt when t=0)
is IUCEMQ, which is correct.
To show that the good fit of this
equation reflects trends in CEM within
each country, equation (1) is applied
separately to data for each country.3
The results, shown in the accompanying
tabulation, indicate that trend is statistically significant in 10 of the 11
countries examined:

Canada
Belgium
Denmark
France
Germany
Italy
Netherlands
Sweden
Switzerland
United Kingdom.
Japan

0.108
.110
.128
.134
.126
.112
.107
.105
(*)
.107
.167

0.88
.74
.59
.90
.83
'.89
. .87
.65
(*)
.89
.84

•Not significant.
NOTE.—t-ratios are significant at the 1-percent level, unless
otherwise noted.

The results in this part of the article
indicate that the year-to-year fluctuations in CEM discussed in the first part
are around a fairly steady long-term
trend. Spending grows fairly steadily
because it meets requirements—such
as for plant modernization and replacement and for additions to output
capacity—that also are growing fairly
steadily; in most countries, the cost of
meeting such requirements has been
rising fairly steadily. These are the reasons why so much of CEM is explained
by a compound growth equation. In
what follows, the relation of CEM to
three variables—OM, EE, and WP—is
explored: The rationale for these variables, the method of analysis, and its
results are explained in turn.
Effect on CEM of OM, ER, and WP

(1)

lnCEMt=lnA+a lnCEM0+rt
where In A is the regression intercept,
a is the slope of lnCEM0, and r is the
growth rate.

Rationale jor the variables.—Increases
in OM usually indicate improvement
in market demand for products of host
3. With time as the only explanatory variable, the 12-year
period provides sufficient data points to assess its effects on
CEM.

51

SURVEY OF CURRENT BUSINESS

October 1978

country businesses, including affiliates;
improvements in market demand eventually induce increases in CEM, as
affiliates initiate new capital projects
or resume projects previously postponed.
Similarly, declines in OM lead to postponement or cancellation of capital
projects. These considerations suggest
that CEM may be positively correlated
with OM.
ER—defined in terms of U.S. dollars
per unit of foreign currency—indicates
changes in the cost of a host country's
currency relative to the U.S. dollar.
Because capital projects usually involve
some costs contracted in host-country
currency, an increase in a country's ER
usually would be associated with an increase in the cost, measured in dollars,
of the project. The increase in cost can
affect the capital budget of the U.S.
parent company, which usually supplies, through capital transfers, some
of the funds for its affiliates' capital
projects. The increase in cost, therefore, could inhibit expenditures for new
capital projects in the appreciating
country, if the increase requires further
capital transfers from the U.S. company. Also, an increase in ER tends to
reduce competitiveness of a country's
products, relative to those of other
countries. For both reasons, an increase
in a country's ER may result in a decline in CEM in that country; some of
the decline may reflect a shift of capital
projects to other, more competitive,
countries. These considerations suggest
that CEM may be negatively correlated with ER.
WP—defined in terms of U.S. dollars
because CEM is so defined—is an indicator of changes in prices. (To obtain
indexes on a U.S. dollar basis, the
United Nations wholesale price index

for a country is multiplied by the ER
index for that country.) There are reasons for either a positive or a negative
correlation of CEM and WP. To the
extent that a country experiences a
more rapid inflation than do other
countries, the competitiveness of its
products may be reduced, inhibiting
CEM; if the resulting reduction in the
volume of CEM is not offset by the increase in the cost of capital projects,
CEM and WP will be negatively correlated. However, if the inhibiting effects
of inflation on CEM are small, currentdollar expenditures will tend to increase
because the cost of capital projects is
increasing, and CEM and WP will be
positively correlated.
Method of analysis and results.—The
relationship of CEM to OM, ER, and
WP is examined with logarithmic regressions. After experimentation with
alternative lags, the explanatory variables were lagged one year with respect
to CEM, reflecting a delay in the response of capital expenditures to
changes in these variables.
OM, WP, and ER are intercorrelated;
i.e., the three variables tend to be
collinear. Although collinearity does not
bias the estimates of the coefficients
obtained from an ordinary-least-squares
regression, it does make it difficult to
assess the statistical significance of
those estimates.
Problems of collinearity cannot be
fully resolved by available statistical
methods. However, stepwise regression
results are useful in appraising the impact of collinearity (see technical note).
The stepwise regression is applied in a
way that removes from OM its common
variation with WP and ER, and assigns
that variation to WP and ER; therefore, stepwise regression results tend to

understate the significance of OM and
overstate the significance of WP and
ER (coefficient estimates are, in principle, not affected).
Results of an ordinary least-squares
regression (equation (2)) and of a stepwise regression (equation (3)) are given
in table 7. Comparison of results of the
two equations suggests that collinearity
is not a major problem in equation (2).
OM is significant at the 1-percent level,
and ER at the 5-percent level in both
equations; and WP is significant at the
5-percent level in equation (2), and the
1-percent level in equation (3).
Because collinearity is not a major
problem, the ordinary least squares
regression
results—the
preferred
method—are used in the following
analysis. The equation is of the following form :

lnOEMt=lnA+a
+b

lnERt-i

where the coefficients estimated are
inA, a, b, c, and the 10 values of hJfhj is the coefficient of Dh a country
dummy variable (see technical note).
The elasticity of a dependent variable
with respect to changes in an explanatory variable—i.e., the percent change
in the dependent variable for each
percent change in an independent
variable—is measured by the coefficient
of that explanatory variable. For example, the regression coefficient of OMt-\
which is about 2.2, indicates that a
2.2-percent increase in CEM is associated with a 1-percent increase in
OM. This (elastic) response of CEM
to OMt_i indicates a strong tendency to
curtail expenditures in periods when
market demand has been unfavorable,
and to accelerate expenditures after
market demand improves.

Table 7.—Logarithmic Regressions of CEM on OM, ER, and WP, Using Pooled Data for Eleven Countries and for the Years 1966-77
[Variables are Ins of millions of dollars or Ins of indices, 1976=100]

Country dummy variables 1
Equation No.

LnOMt-i

LnERt-i

LnWP t-i

Constant

Canada

Belgium

France

Germany

Italy

Netherlands

Sweden

Switzerland

United
Kingdom

Japan

(2)

2.21

2

-0.52

2 0.21

-10.23

5.01

3.45

4.01

4.59

3.62

3.41

2.01

1.02

4.95

3.11

(3)

2.23

2 -0.41

0.22

-9.98

5.16

3.38

4.02

4.65

3.71

3.41

2.20

1.22

4.96

3.15

1
The country dummy for Denmark is the value of the intercept (the coefficient of the
constant
term).
2
Significant at the 5-percent level.
NOTE.—CEM=Capital expenditures of manufacturing affiliates.
OM=Output in manufacturing.




ER=Index of the value in U.S. dollars of a unit of host-country currency.
WP=Index of wholesale prices in manufacturing.
For each equation: All explanatory variables are lagged one year. The number of observations is 121; the R2 is 0.98; and the t-ratios for the variables shown are significant at the 1-percent level, unless noted otherwise.

SUEVEY OF CURRENT BUSINESS

52
The coefficient of W P M is about 0.2.
The positive elasticity indicates that
CEM increases with inflation. However,
the elasticity is less than 1.0, indicating
that CEM increases less than proportionately with respect to WP; i.e., the
volume of (real) capital expenditures
is curtailed by inflation.
The coefficient of ERt-x is about —0.5.
The negative sign indicates that as a

host country's currency becomes more
expensive relative to the dollar, affiliates' capital expenditures decline.
In summary, the quantitative impact
of WP and EB on CEM is, at acceptable confidence levels, small relative
to that of OM. This result suggests that
changes in host-country demand have
by far the greatest impact on affiliate
capital spending decisions.

Technical Note
Revisions
For each year, five successive estimates are published. The estimates are
based on data from semiannual sample surveys taken each June and December.
The first through fourth estimates are affiliates' spending projections (plans),
and the fifth, actual expenditures. Table 8 shows dates of the surveys covering
1977-79. Results of the June sample survey are usually published in the September
SURVEY OF CURRENT BUSINESS. Results of the December sample survey are usually published in the following year's March SURVEY.
Revisions to the 1976 actual expenditure estimates are based on a BE A survey
of sources and applications of funds, which included data on such expenditures.
Changes in reporting
requirements
Two changes in reporting requirements became effective with the June
1978 sample survey. First, the exemption criteria were changed. Affiliates
are now exempt if their total assets,
net sales, and after-tax net income (or
losses) are each less than $8 million;
previously, affiliates with less than
$50,000 of capital expenditures were
exempt. This change resulted in the
exemption of more affiliates, but had
a negligible effect on the sample data
because the newly exempted affiliates
are small.
Second, reporting for the sample is
now mandatory; previously, it was
voluntary. As a result, a number of
affiliates have been added to the sample.
The effect on sample size is indicated in
table 9, which shows 1977 expenditures
as reported in June 1978. Line 1 shows
expenditures for affiliates reported on
the mandatory basis; line 2 shows expenditures added as a result of the
change to mandatory reporting; and
line 3, calculated by subtracting line 2




from line 1, gives expenditures for
affiliates previously reported on the
voluntary basis. Affiliates in line 3 had
expenditures of $15.8 billion in 1977,
and accounted for about 57 percent of
the universe estimate of $27.5 billion
for that year. Affiliates in line 2 had
expenditures of $1.1 billion; the addition of these affiliates increased sample
coverage to 61 percent.
Sample data are expanded to universe
estimates by a conventional link-relative
method. Affiliates not in the sample are
included by assuming that their capital
expenditures grow at the same rate as

October 1978

those of affiliates in the sample. The
addition of the new affiliates to the
sample would change the universe estimate only if the new affiliates' growth
rate differed from that of the previous
sample, and if the new affiliates were a
sizable proportion of the new sample.
Although new affiliates do have a higher
growth rate in 1978, they account for
less than 7 percent of the new sample;
therefore, the growth rates of the old
and the new samples are about the
same, and the increase in sample size
had little impact on the size of the
universe estimates in 1978. However,
by increasing coverage in some countryindustry cells, the expansion of the
sample does result in improved reliability of the estimates.
Regression

methodology

Pooling.—There are differences from
country to country in the level of CEM
in the base year (1966). Regressions on
pooled data must include explanatory
variables which take such differences
into account, so that the regressions will
fit the data reasonably well. In equation
(1), such differences are accounted for
by CEM0, the set of base-year values of
CEM. In equations (2) and (3), such
differences are accounted for by a set of
country dummy variables.
A country dummy variable takes the
value 1 for data points of that country,
and zero otherwise. The regression
coefficient of the dummy variable, plus
the regression intercept, give an esti-

Table 8.—Dates of Successive Semiannual Surveys of Capital Expenditures by MajorityOwned Foreign Affiliates of U.S. Companies, 1977-79
[Date survey taken]

Year of actual or
planned expenditures

Planned expenditures
First survey-

Actual expenditures

Second survey

Third survey

Fourth survey

Fifth survey

1979

June 1978*—.

Dec.

1978**..

June 1979**..

Dec.

1979**

June 1980**.

1978

June 1977

Dec.

1977.

June 1978*.

Dec.

1978**

June 1979**.

1977

June 1976

Dec.

1976

June 1977

Dec.

1977

June 1978*.

*Most recent survey.
**Future surveys.

SUEVEY OF CUEEENT BUSINESS

October 1978
Table 9.—1977 Capital Expenditures Reported by Majority-Owned Foreign
Affiliates in June 1978
[Millions of dollars]
1977
1. All affiliates in sample
2. Affiliates added to sample as a result of
change to mandatory reporting
3. Affiliates in current mandatory sample
which also reported in previous, voluntary surveys

16,922
1,117
15,805

(Continued from page 10)

increases—of about 6 percent—were in
line with car price increases.
Truck imports, like car imports, are
concentrated in the smallest size category; they are mostly small pickups
weighing less than 6,000 pounds. Only
trucks imported by U.S. manufacturers
are included in retail sales in the chart;
these imports totaled 130,000 in 1978.
An additional 180,000 imported trucks,
almost all of Japanese manufacture,
were sold during the 1978 model year,
about the same number as in 1977.




53

mate of the base-year level of CEM for
that country.
Number of observations.—The equations are fitted to 121 values of the
dependent variable, CEMt, for 1967-77;
the values for 1966 are for CEM0, an
explanatory variable in equation (1).
Stepwise
regression.—Collinearity
among OM, EE, and WP is reduced by
a stepwise regression procedure. OM
first is regressed on WP and E E ; the

part of OM not explained by this
regression (the regression residual) is
u, which is not collinear with WP or
EE. CEM then is regressed on u, WP,
and E E ; and, in the resulting equation,
OM is substituted for u to give CEM in
terms of OM, WP, and EE. (For further explanation of this type of procedure, see Goldberger, A. S., Econometric
Theory, Wiley, 1966, pp. 192-196.)

Large price increases during the year,
comparable to those on imported cars,
held down import sales. Including imports of U.S. manufacturers, imports
from Japan captured 8 percent of the
light truck market, down from 9 percent in 1977.
Sales of new medium trucks, which
include general delivery trucks and
buses, remained at very low levels; only
146,000 were sold in the third quarter
of 1978. The bulk of medium trucks
are in the heaviest weight subcategory
(19,501-26,000 pounds), which has been

losing sales to heavy trucks that have
more fuel-efficient diesel engines. An
increasing use of diesel engines in these
medium trucks may slow the sales shift.
Sales of new buses, which comprise
about one-fifth of medium trucks, have
been flat for the past 4 years.
Sales of new heavy trucks totaled a
record 210,000 in the third quarter of
1978, up slightly from the second quarter. Sales of heavy trucks—mainly large
single-units and diesel tractors designed to pull trailers—have more than
doubled since the 1975 recession low.

SURVEY OF CURRENT BUSINESS

54

October 1978

Summary National Income and Product Series, 1929-77
Table A.—Gross National Product
[Billions of dollars]
Constant (1972) dollars

Current dollars
Gross private
domestic investment

Year
GNP

Net
exports

PCE
Total

Fixed
investment

Government
purchases

Final sales

Gross private
domestic investment
GNP

PCE

CBI

Total

Fixed
investment

Net
exports

Government
purchases

Current
dollars

Constant
(1972)
dollars

Year-to-year percent change
GNP
implicit
price
deflator
(Index
numbers,
1972=100)

Current
dollar
GNP

Constant
dollar
GNP

GNP
implicit
price
deflator

CBI

1929

103.4

77.3

16.2

14.5

1.7

1.1

8.8

314.6

215.6

55.9

51.3

4.6

2.2

40.9

101.7

310.0

32.87

6.6

6.6

0.0

1930
1931
1932
1933
1934

90.7
76.1
58.3
55.8
65.3

69.9
60.5
48.6
45.8
51.3

10.2
5.6
1.0
1.4
3.3

10.6
6.8
3.4
3.0
4.1

-.4
-1.1
-2.5
-1.6
-.7

1.0
.5
.4
.4

9.5
9.5
8.3
8.2
10.0

285.2
263.3
227.1
222.1
239.0

200.0
192.1
174.1
170.7
177.2

23.7
7.9
8.4
13.1

39.1
26.7
15.1
13.3
16.4

-.5
-3.0
-7.2
-4.9
-3.3

2.0
1.3
.9
.2
.5

44.7
46.2
44.2
42.8
48.2

91.1
77.2
60.8
57.4
66.0

285.7
266.3
234.2
226.9
242.3

31.80
28.89
25.67
25.14
27.32

-12.3
-16.1
-23.4
-4.2
17.0

-9.3
-7.7
-13.8
-2.2
7.6

-3.3
-9.1
-11.2
-2.1
8.7

1935
1936
1937
1938
1939

72.5
82.7
90.7
85.0
90.8

55.8
62.0
66.6
64.0
67.0

6.4
8.5
11.8
6.5
9.3

5.3
7.2
9.2
7.4
8.8

1.1
1.3
2.5
-.9
.4

.1
.1
.3
1.3
1.1

10.2
12.2
12.0
13.2
13.5

260.5
295.4
309.2
296.4
318.8

188.1
206.8
214.3
209.2
220.3

24.0
32.2
39.8
24.0
33.6

21.1
28.4
33.5
26.6
32.0

2.9
3.8
6.3
-2.6
1.6

-1.1
-1.3
—. 7
2.6
2.0

49.5
57.8
55.7
60.6
62.9

71.4
81.5
88.2
85.9
90.4

257.5
291.6
302.9
299.0
317.2

27.83
28.01
29.34
28.66
28.48

11.0
14.1
9.7
-6.4
6.9

9.0
13.4
4.7
-4.2
7.6

1.9
.6
4.7
-2.3
-.7

1940
1941
1942
1943
1944

100.0
124.9
158.3
192.0
210.5

71.0
80.8
88.6
99.4
108.2

13.1
17.9
9.9
5.8
7.2

10.9
13.4
8.1
6.4
8.1

2.2
4.5
1.8
-.6
-1.0

1.7
1.3
.0
-2.0
-1.8

14.2
24.9
59.8
88.9
97.0

343.3
398.5
460.3
530.6
568.6

230.4
244.1
241.7
248.7
255.7

44.6
55.8
29.6
18.1
19.8

38.4
43.8
24.4
18.0
22.1

6.2
3.0
12.0
.8
5.2 - 2 . 5
.1 - 7 . 3
-2.3 -7.2

65.2
97.7
191.5
271.2
300.3

97.8
120.4
156.5
192.6
211.5

337.1
386.4
455.1
530.5
570.9

29.13
31.34
34.39
36.18
37.03

10.1
24.9
26.8
21.3
9.6

7.7
16.1
15.5
15.3
7.1

2.3
7.6
9.7
5.2
2.3

1945
1946
1947
1948
1949

212.3
209.6
232.8
259.1
258.0

119.5
143.8
161.7
174.7
178.1

10.6
30.7
34.0
45.9
35.3

11.7
24.3
34.4
41.1
38.4

-1.0
6.4
4 7
-3.1

-.6
7.6
11.6
6.5
6.2

82.8
27.5
25.5
32.0
38.4

560.0
476.9
468.3
487.7
490.7

271.4
301.4
306.2
312.8
320.0

27.8
71.0
70.1
82.3
65.6

31.4
58.8
70.4
76.8
70.0

-3.6 -4.5
12.2 11.6
-.2
16.6
5.5
8.5
8.8
-4.4

265.3
93.0
75.4
84.1
96.2

213.4
203.2
233.2
254.4
261.1

563.6
464.7
468.5
482.2
495.1

37.92
43.95
49.70
53.13
52.59

-1.3
11.1
11.3
-.4

-1.5
-14.8
-1.8
4.1

2.4
15.9
13.1
6.9
-1.0

1950
1951
1952
1953
1954

286.2
330.2
347.2
366.1
366.3

192.0
207.1
217.1
229.7
235.8

53.8
59.2
52.1
53.3
52.7

47.0
48.9
49.0
52.9
54.3

6.8
10.3
3.1
.4
-1.5

1.9
3.8
2.4
.8
2.0

38.5
60.1
75.6
82.5
75.8

533.5
576.5
598.5
621.8
613.7

338.1
342.3
350.9
364.2
370.9

93.7
94.1
83.2
85.6
83.4

83.2
80.4
78.9
84.1
85.6

10.6
13.7
4.3
1.5
-2.2

4.0
7.4
4.9
2.0
4.5

97.7
132.7
159.5
170.0
154.9

279.4
319.9
344.0
365.7
367.8

522.9
562.8
594.2
620.3
615.8

53.64
57.27
58.00
58.88
59.69

10.9
15.4
5.1
5.5
.0

8.7
8.1
3.8
3.9
-1.3

2.0
6.8
1.3
1.5
1.4

1955
1956
1957
1958
1959

399.3
420.7
442.8
448.9
486.5

253.7
266.0
280.4
289.5
310.8

68.4
71.0
69.2
61.9
77.6

62.4
66.3
67.9
63.4
72.3

6.0
4.7
1.3
-1.5
5.2

2.2
4.3
6.1
2.5

75.0
79.4
87.1
95.0
97.6

654.8
668.8
680.9
679.5
720.4

395.1
406.3
414.7
419.0
441.5

104.1
102.9
97.2
87.7
107.4

96.3
97.1
95.7
89.6
101.0

7.7
5.8
1.5
-1.8
6.5

4.7
7.3
8.9
3.5

150.9
152.4
160.1
169.3
170.7

393.3
416.0
441.4
450.4
481.2

647.1
633.0
679.4
681.3
714.0

62.90
65.02
66.06
67.52

9.0
5.4
5.2
1.4
8.4

6.7
2.1
1.8
-.2
6.0

2.2
3.2
3.4
1.6
2.2

1960
1961
1962
1963
1964

506.0
523.3
563.8
594.7
635.7

324.9
335.0
355.2
374.6
400.4

76.4
74.3
85.2
90.2
96.6

72.7
72.1
78.7
84.2
90.8

3.8
2.2
6.5
6.0
5.8

4.4
5.8
5.4
6.3

100.3
108.2
118.0
123.7
129.8

736.8
755.3
799.1
830.7
874.4

453.0
462.2
482.9
501.4
528.7

105.4
103.6
117.4
124.5
132.1

101.0
100.7
109.3
116.8
124.8

4.4
2.9
8.1
7.8
7.3

5.5
6.7
5.8
7.3
10.9

172.9
182.8
193.1
197.6
202.7

502.2
521.1
557.3
588.8
629.9

732.4
752.4
791.0
823.0
867.1

68.67
69.28
70.55
71.59
72.71

4.0
3.4
7.7
5.5
6.9

2.3
2.5
5.8
4.0
5.3

1.7
.9
1.8
1.5
1.6

1965
1966
1967
1968
1969

688.1
753.0
796.3
868.5
935.5

430.2
464.8
490.4
535.9
579.7

112.0
124.5
120.8
131.5
146.2

102.5
110.2
110.7
123.8
136.8

9.5
14.3
10.1
7.7
9.4

7.6
5.1
4.9
2.3
1.8

138.4
158.7
180.2
198.7
207.9

925.9
981.0
1,007.7
1,051.8
1,078.8

558.1
586.1
603.2
633.4
655.4

150.1
161.3
152.7
159.5
168.0

138.8
144.6
140.7
150.8
157.5

8.2
11.3
4.3
16.7
3.5
12.0
-.4
8.7
10.6 - 1 . 3

209.6
229.3
248.3
259.2
256.7

678.6
738.7
786.2
860.8
926.2

914.6
964.3
995.7
1,043.1
1,068.2

74.32
76.76
79.02
82.57
86.72

8.2
9.4
5.8
9.1
7.7

5.9
5.9
2.7
4.4
2.6

2.2
3.3
2.9
4.5
5.0

1970
1971
1972
1973
1974

982.4
1,063.4
1,171.1
1,306.6
1,412.9

618.8
668.2
733.0
809.9
889.6

140.8
160.0
188.3
220.0
214.6

137.0
153.6
178.8
202.1
205.7

3.9
6.4
1.6
9.4 - 3 . 3
17.9
7.1
8.9
6.0

218.9
233.7
253.1
269.5
302.7

1,075.3
1,107.5
1,171.1
1,235.0
1,217.8

668.9
691.9
733.0
767.7
760.7

154.7
166.8
188.3
207.2
183.6

150.4
160.2
178.8
190.7
175.6

1.4
4.3
-.6
6.6
9.4 - 3 . 3
7.6
16.5
8.0 15.9

250.2
249.4
253.1
252.5
257.7

978.6
1,057.1
1,161. 7
1,288.6
1,404.0

1,071.0
1,100.9
1.161.7
1,218.5
1,209.9

91.36
96.02
100.00
105.80
116.02

5.0
8.2
10.1
11.6
8.1

-.3
3.0
5.7
5.5
-1.4

5.4
5.1
4.1
5.8
9.7

1975
1976
1977

1,528. 8 979.1
1, 700.1 1,090.2
1,887. 2 1,206.5

190.9
243.0
297.8

201.6 -10.7 20.4
10.2
7.4
232.8
15.6 -11.1
282.3

338.4
359.5
394.0

1,202.3
1,271.0
1,332.7

774.6
819.4
857.7

142.6
173.4
196.3

152.4
166.8
187.4

262.6
262.8
269.2

1,539.6
1,689.9
1,871.6

1,212.1
1,264.4
1.323.8

127.15
133. 76
141.61

8.2
11.2
11.0

-1.3
5.7
4.9

9.6
5.2
5.9

NOTE.—PCE = Personal consumption expenditures; CBI=Change in business inventories.




-9.8
6.7
8.9

22.6
15.4
9.5

October 1978

SURVEY OF CURRENT BUSINESS

55

Table B.^National Income and Disposition of Personal Income
[Billions of dollars]

Year

ComNa- pensational tion of
income employees

Proprietors' income with
IVA and CCAdj.

Total

Farm

Nonfarm

Corporate profits with IVA and CCAdj.
Rental
income
of persons
with
CCAdj.

Total

Profits
before
tax

Profits after tax
CC

Total

Undistributed

Net
interest

Adj.

IVA

Less:
Per- Personal
Less: Equals: Saving D P I in
sonal tax and Equals: PerPer- as per- conincome nontax
DPI
sonal sonal centage stant
payoutlays saving of DPI (1972)
ments
dollars

1929

84.8

51.1

14.9

6.2

8.8

4.9

9.2

10.0

8.6

2.8

0.5

-1.3

4.7

84.9

2.6

82.3

79.1

3.1

3.8

229.8

1930
1931
1932
1933
1934

73.8
58.6
42.4
39.9
48.7

46.8
39.7
31.1
29.5
34.3

11.7
9.1
5.6
5.8
7.5

4.3
3.4
2.1
2.6
3.0

7.4
5.6
3.5
3.2
4.6

4.4
3.6
2.9
2.2
1.7

5.9
1.3
-1.7
-1.7
1.0

3.7
-.4
-2.3
1.0
2.3

2.9
-.9
-2.7
.4
1.6

-2.6
-4.9
-5.2
-1.6
-1.0

3.3
2.4
1.0
-2.1
-.6

-1.0
-.7
-.5
-.5
-.7

4.9
5.0
4.6
4.1
4.1

76.2
65.4
50.0
46.9
53.7

2.5
1.8
1.4
1.4
1.6

73.7
63.5
48.6
45.5
52.1

71.1
61.4
49.3
46.5
52.0

2.6
2.1
-.7
-1.0
.1

3.5
3.3
-1.4
-2.2
.2

210.6
201.7
174.3
169.7
179.7

1935
1936
1937
1938
1939

56.5
64.3
72.3
66.0
71.3

37.3
42.9
47.9
45.0
48.1

10.7
10.9
13.1
11.2
11.7

5.3

5.4

1.8

2.6

3.6

2.6

-.2

-.2

—.8

4.1

60.3
68.4
73.8
68.0
72.4

19
2.2
2.9
2.8
2.4

58.4
66.2
70.9
65.1
69.9

56.4
62.8
67.5
64.9
67.8

2.0

3.4

5.2
4.7
.4
3.0

196.6
220.7
227.8
212.8
230.1

1940
1941
1942
1943
1944

79.7
102.6
135.7
169.1
181.9

52.1
64.8
85.3
109.5
121.2

12.9
17.4
24.0
29.0
30.2

1945
1946
1947
1948
1949

180.6
178.3
194.6
219.0
212.7

123.1
118.1
129.2
141.4
141.3

1950
1951
1952
1953
1954

236.2
272.3
285.8
299.7
299.1

1955
1956
1957
1958
1959

4.9
5.6
3.8
5.3

4.9
5.3
2.9
5.6

.4
.6
-.2
1.8

-.7
0
1.0
-.7

-l'.O

3.8
3.7
3.6
3.6

10.0
17.7
21.5
25.1
24.1

7.2
10.1
10.1
11.1
11.2

3.2
5.7
5.9
6.6
6.5

-.2
-2.5
-1.2
-.8
-.3

-1.1
-1.1
-1.0
-.8
-.2

3.3
3.3
3.1
2.7
2.4

77.8
95.3
122.4
150.7
164.4

2.6
3.3
5.9
17.8
18.9

75.2
92.0
116.5
132.9
145.5

72.0
81.8
89.4
100.1
109.0

3.3
10.2
27.0
32.7
36.5

4.4
11.1
23.2
24.6
25.1

244.3
278.1
317.3
332.2
343.9

19.0
16.6
22.2
29.1
26.9

19.7
24.6
31.5
35.2
28.9

9.0
15.5
20.2
22.7
18.7

4.4
9.9
13.9
15.7
11.5

-.6
-5.3
-5.9
-2.2
1.9

-.1
-2.7
-3.4
-3.9
-3.8

2.2
1.6
2.1
2.1
2.2

169.8
177.3
189.8
208.5
205.6

20.8
18.7
21.4
21.0
18.5

149.0
158.6
168.4
187.4
187.1

120.4
145.2
163.5
176.9
180.4

28.5
13.4
4.9
10.6
6.7

19.2
8.5
2.9
5.7
3.6

338.6
332.4
318.8
335.5
336.1

7.1
7.7
8.8
10.0
11.0

33.7
38.1
35.4
35.5
34.6

42.6
43.9
38.9
40.5
38.1

24.7
21.3
19.5
20.2
20.5

15.9
12.8
11.0
11.5
11.4

-5.0
-1.2
1.0
-1.0

-4.0
-4.6
-4.5
-4.1
-3.2

2.3
2.7
3.0
3.4
4.3

226.1
253.7
270.4
286.1
288.2

20.6
28.9
34.0
35.5
32.5

205.5
224.8
236.4
250.7
255.7

194.7
210.0
220.4
233.7
240.1

10.8
14.8
16.0
17.0
15.6

5.3
6.6
6.8
6.8
6.1

361.9
371.6
382.1
397.5
402.1

31.2
32.4
33.9
34.3
36.6

11.3
11.6
12.2
12.9
13.2

44.6
42.9
42.1
37.5
48.2

48.4
48.6
46.9
41.1
51.6

26.4
26.6
25.5
22.1
28.0

16.1
15.5
14.0
10.8
15.8

-1.7
-2.7
-1.5
-.3
-.5

-2.1
-3.0
-3.3
-3.4
-2.9

4.8
5.2
6.5
8.0
8.8

308.8
330.9
349.3
359.3
382.1

35.4
39.7
42.4
42.1
46.0

273.4
291.3
306.9
317.1
336.1

258.5
271.6
286.4
295.4
317.3

14.9
19.7
20.6
21.7
18.8

5.4
6.8
6.7
6.8
5.6

425.9
444.9
453.9
459.0
477.4

11.4
11.8
11.9
11.6
10.3

35.6
36.4
37.7
38.7
42.0

13.8
14.3
15.0
15.7
16.1

46.6
46.9
54.9
59.6
67.0

48.5
48.6
53.6
57.7
64.7

25.8
25.8
29.6
31.5
36.7

13.0
12.5
15.2
16.0
19.4

.3
.1
.1
-.2
-.5

-2.3
-1.8
1.2
2.1
2.8

9.8
11.2
12.8
14.3
15.9

399.7
415.0
440.7
463.1
495.7

50.4
52.1
56.8
60.3
58.6

349.4
362.9
383.9
402.8
437.0

332.3
342.7
363.5
384.0
410.9

17.1
20.2
20.4
18.8
26.1

4.9
5.6
5.3
4.7
6.0

487.3
500.6
521.6
539.2
577.3

56.7
60.3
61.0
63.4
66.2

12.6
13.6
12.1
12.0
13.9

44.1
46.7
48.9
51.4
52.3

17.1
18.2
19.4
18.6
18.1

77.1
82.5
79.3
85.8
81.4

75.2
80.7
77.3
85.6
83.4

44.3
47.1
44.9
46.2
43.8

25.2
27.6
24.7
24.2
21.2

-1.9
—2.1
-1.7
-3.4
-5.5

3.8
3.9
3.7
3.7
3.5

18.5
21.9
24.3
26.8
30.8

537.0
584.9
626.6
685.2
745.8

64.9
74.5
82.1
97.1
115.4

472.2
510.4
544.5
588.1
630.4

441.9
477.4
503.7
550.1
595.3

30.3
33.0
40.9
38.1
35.1

6.4
6.5
7.5
6.5
5.6

612.4
643.6
669.8
695.2
712.3

609.2
650.3
715.1
799.2
875.8

65.1
67.7
76.1
92.4
86.2

13.9
14.3
18.0
32.0
25.4

51.2
53.4
58.1
60.4
60.9

18.6
20.1
21.5
21.6
21.4

67.9
77.2
92.1
99.1
83.6

71.5
82.0
96.2
115.8
126.9

37.0
44.3
54.6
67.1
74.5

14.1
21.3
30.0
39.3
43.6

-5.1
-5.0
-6.6
-18.6
-40.4

1.5
.3
2.5
1.9
-2.9

37.5
42.8
47.0
52.3
69.0

801.3
859.1
942.5
1,052.4
1,154.9

115.3
116.3
141.2
150.8
170.3

685.9
742.8
801.3
901.7
984.6

635.4
685.5
751.9
831.3
913.0

50.6
57.3
49.4
70.3
71.7

7.4
7.7
6.2
7.8
7.3

741.6
769.0
801.3
854.7
842.0

1,215. 0 931.1
1,359.2 1,036.8
1,515. 3 1,153.4

87.0
88.6
99.8

23.5
18.4
20.2

63.5
70.2
79.5

22.4
22.5
22.5

95.9
127.0
144.2

120.4
155.9
173.9

70.6
91.7
102.1

38.7
53.8
58.4

-12.4
-14.5
-14.8

-12.0
-14.4
-14.9

168.8 1,086. 7 1,003. 0
196.5 1,184.4 1,116. 3
226.0 1,303. 0 1,236.1

83.6
68.0
66.9

7.7
5.7
5.1

859.7
890.1
926.3

4.3
6.0
4.4
4.4

6.6
7.1
6.8
7.3

1.8
1.9
2.4
2.6

4.5
6.4
9.8
11.7
11.6

8.4
10.9
14.3
17.3
18.6

2.7
3.1
4.0
4.4
4.5

8.7
14.1
19.3
23.5
23.6

31.7
36.6
35.8
40.7
36.1

12.2
14.9
15.2
17.5
12.7

19.4
21.6
20.6
23.2
23.5

4.6
5.5
5.3
5.7
6.1

154.8
181.0
195.7
209.6
208.4

38.4
42.8
42.9
41.3
40.8

13.5
15.8
14.9
12.9
12.3

24.9
27.0
28.0
28.4
28.5

328.0
346.9
362.3
364.0
397.1

224.9
243.5
256.5
258.2
279.6

42.5
43.6
45.0
47.4
47.2

11.3
11.2
11.0
13.1
10.7

1960
1961
1962
1963
1964

412.0
424.2
457.4
482.8
519.2

294.9
303.6
325.1
342.9
368.0

47.0
48.3
49.6
50.3
52.2

1965
1966
1967
1968
1969

566.0
622.2
655.8
714.4
767.9

396.5
439.3
471.9
519.8
571.4

1970
1971
1972
1973
1974

798.4
858.1
951.9
1,064. 6
1,136. 0

1975
1976
1977....

6.3
6.8
4.0
7.0

Q

-.7
1.2
2 i

78.6 1,255.5
84.3 1,380. 9
95.4 1,529.0

NOTE.—IVA=Inventory valuation adjustment; CC Adj. = Capital consumption adjustment; DPI=Disposal personal income.




3.4
3.4
.3
2.1

SUEVEY OF CURRENT BUSINESS

56

October 1978

Revised Manufacturing and Trade Sales,
1977-78
Manufacturing and trade sales and inventorysales ratios, which are regularly shown on page
S-5 of the SURVEY OF CURRENT BUSINESS, have
been revised back to January 1977. These revisions
reflect updated seasonal adjustment factors for
retail motor vehicle dealers' sales. The unadjusted
data have not been revised. Table 1 shows the revised
sales estimates and table 2, the inventory-sales
ratios.

Table 1.—Manufacturing and Trade Sales, Seasonally Adjusted

Table 2.—Manufacturing and Trade Inventory-Sales Ratios,
Seasonally Adjusted

(Millions of dollars)

(Millions of dollars)

Manufacturing and
trade, total

Retail
trade,
total

Durable
goods

Manufacturing and
trade, total

Nondurable
goods

1977:

Retail
trade,
total

Durable
goods

Nondurable
goods

1977:

Jan...
Feb...
Mar...
Apr...
May.
June..

211,652
216,210
221,612
220,835
221,559
222,589

55,671
57,169
57,850
57,929
58,052
57,851

18,828
19,260
19,723
19,620
19,565
19,462

36,843
37,909
38,127
38,309
38,487
38,389

Jan._.
Feb.._
Mar—
Apr...
May_.
June__

1.47
1.45
1.43
1.45
1.45
1.46

1.41
1.38
1.39
1.40
1.41
1.43

1.94
1.91
1.89
1.92
1.94
1.97

1.14
1.11
1.12
1.13
1.14
1.16

July..
Aug..
Sept..
Oct._.
Nov..
Dec.

221,991
224,404
225,305
228,450
231,550
237,017

58,669
59,177
59,412
60,720
61,650
61,813

19,622
20,141
20,161
20,837
20,795
20,674

39,047
39,036
39,251
39,883
40,855
41,139

July..
Aug.Sept..
Oct._.
Nov..
Dec...

1.46
1.46
1.47
1.45
1.44
1.41

1.42
1.43
1.43
1.41
1.40
1.41

1.99
1.95
1.96
1.90
1.93
1.96

1.14
1.16
1.16
1.15
1.13
1.13

Jan...
Feb...
Mar...
Apr...
May_.
June-

230,294
238,165
242,627
250,606
251,869
252,639

59,987
61,548
62,649
63,917
64,292
64,565

19,914
20,445
20,897
21,807
21,821
22,092

40,073
41,103
41,752
42,110
42,471
42,473

Jan...
Feb...
Mar...
Apr..
MayJune-

1.47
1.43
1.43
1.40
1.41
1.41

1.46
1.42
1.42
1.41
1.42
1.42

2.06
2.02
1.99
1.92
1.94
1.90

1.16
1.13
1.14
1.14
1.15
1.17

July..
Aug p..

250,853
257,007

64,343
65,505

21,844
22,755

42,499
42,750

July..
Aug P..

1.43
1.41

1.44
1.43

1.94
1.87

1.18
1.19

1978:

1978:

p Preliminary.




U. S. GOVERNMENT PRINTING OFFICE : 1978 O - 275-875

CURRENT BUSINESS STATISTICS

JL HE STATISTICS here update series published in the 1975 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY
That volume (available from the Superintendent of Documents for $6.80) provides a description of each series, references
to sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1971 through 1974 (1964-74 for major quarterly
series), annually, 1947-74; for selected series, monthly or quarterly, 1947-74 (where available). Series added or significantly revised after the 1975
BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively. 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 1975 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and
are also listed alphabetically on pages 187-88. 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.
O^F CURRENT BUSINESS.

1975
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

1977

1975

II

, 992.0

2,087.5

, 141.1

994.0 1,021.6 1,053.8 1,075.1 1,098.4 1,133.7 1,167.7 1,188.6 1,214.5 1,255.2 1,276.7

1,322.9

1, 354. 5

IV

II

III

IV

I

II

III

I

III

I

1978

1977

1976

IV

Annual total
Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf

bil.$__ 1,528.8

Personal consumption expenditures, total ..do

979.1

1,700.1 1,887.2 1,564.0 1,598.0 1,649.7 1,685.4 1,715.6 1,749.8 1,806.8 1,867.0 1,916.8 1,958.1
1,090. 2 1,206.5

Durable goods, total 9
...do
Motor vehicles and parts.
do
Furniture and household equipment do
Nondurable goods, total?
do
Clothing and shoes
do_.
Food
_-_do---.
Gasoline and oil
_
do

132.6
53.4
58.0

156. 6
69.7
63.9

178.4
81.5
71.3

136.3
55.9
58.7

143.5
60.6
60.8

152.2
67.7
61.9

154.7
69.1
63.0

156.7
69.5
64.2

162.8
72.6
66.5

173.2
81.3
68.0

175.6
81.2
69.9

177.4
79.5
72.0

187.2
84.0
75.3

183.5
84.1
72.1

197.8
92.5
76.5

199.3
90.0
78.6

408.9
70.1
209.6
39.5

442.6
75.7
225.8
42.8

479.0
81.5
245.2
46.5

415.0
71.5
212.4
40.0

421.4
72.2
216.6
40.5

430.3
73.8
219.4
41.4

437.4
74.2
223.9
41.9

444.5
76.1
227.4
43.0

458.3
78.5
232.3
45.1

465.9
78.5
237.5
46.1

473.6
79.3
244.5
46.2

479.7
81.4
246.4
46.0

496.9
86.7
252.6
47.5

501.4
82.9
257.7
48.3

519.3
87.5
267.8
49.1

529.4
90.2
272.0
50.8

Services, total 9
Houshold operation
Housing
_
Transportation

437.5
64.5
150.2
32.6

491.0
72.8
166.4
37.9

549.2
81.6
184.6
44.2

442.7
65.8
151.5
32.7

456.7
66.7
156.3
34.0

471.3
69.3
160.2
36.0

483.0
70.2
164.7
37.0

497.2
73.5
168.2
38.7

512.6
78.2
172.3
39.8

528.6
80.2
177.3
40.8

539.4
78.0
182.1
43.5

557.5
83.7
186.9
45.0

571.1
84.6
192.0
47.3

591.8
89.6
198.1
49.7

605.8
89.9
204.1
52.1

625.8
92.9
209.6
55.0

do
do
do
do

190.9

243.0

297.8

206.8

203.9

231.5

243.5

249.9

247.1

272.5

295.6

309.7

313.5

322.7

345.4

351.7

do
do
do
do

201.6
150.2
53.8
96.4

232.8
164.6
57.3
107.3

282.3
190.4
63.9
126.5

202.3
149.7
54.0
95.7

208.8
151.5
54.7
96.8

220.1
157.7
56.4
101.3

228.1
162.2
57.6
104.6

235.3
168.1
57.3
110.8

247.6
170.5
57.9
112.6

262.2
180.6
59.3
121.4

278.6
187.2
63.4
123.8

287.8
193.5
65.4
128.1

300.5
200.3
67.4
132.8

306.0
205.6
68.5
137.1

325.3
220.1
76.6
143.5

334.1
225.4
79.5
145.9

Residential.._
Change in business inventories
Nonfarm

...do
do
do

51.5
-10.7
-14.3

68.2
10.2
12.2

91.9
15.6
15.0

52.6
4.6
1.1

57.3
-4.9
-9.0

62.4
11.4
12.7

65.9
15.4
18.8

67.3
14.5
15.2

77.1
-.6
2.2

81.6
10.3
11.1

91.4
17.0
16.5

94.3
21.9
22.0

100.2
13.1
10.4

100.3
16.7
16.9

105.3
20.1
22.1

108.8
17.6
18.6

Net exports of goods and services
Exports
Imports

do
do
do

20.4
147.3
126.9

7.4
'163.2
155.7

-11.1
175.5
186.6

20.9
147.0
126.1

20.9
152.2
131.2

10.4
154.4
144.1

9.7
160.7
150.9

6.9
168.2
161.3

2.8
169.4
166.6

-8.5
170.9
179.4

-5.9
178.1
184.0

-7.0
180.8
187.8

-23.2
172.1
195.2

-24.1
181.7
205.8

-5.5
205.4
210.9

-6.5
210.9
217.3

Govt. purchases of goods and services, total.do
Federal
do
National defense
_ .do
State and local
do

338.4
123.1
83.7
215.4

359.5
129.9
86.8
229.6

394.0
145.1
94.3
248.9

342.2
123.6
84.2
218.7

351.5
127.9
<=86.2
223.6

354.0
127.1
85.9
226.9

357. 2
127.8
85.6
229.4

360.4
129.9
86.5
230.5

366.3
134.6
89.1
231.7

375.0
138.3
91.9
236.7

388.8
142.9
93.7
245.9

399.5
146.8
94.4
252. 7

412.5
152.2
97.1
260.3

416.7
151.5
97.9
265.2

424.7
147.2
98.6
277.6

441.3
156.1
100.2
285.2

do
do
do
..do
.do
do

1,539. 6
686.6
259.0
427.5
697.6
144.7

760.3
304.6
455.7
778.0
161.9

do
do
do

-10.7
-8.9
-1.8

Gross private domestic investment, total....do
Fixed investment
Nonresidential
_
Structures. __
Producers' durable equipment

By major type of product: t
Final sales, total
Goods, total
Durable goods..
Nondurable goods
Services
Structures-_.

_

C hange i n business inventories
Durable goods.
Nondurable goods

1,871. 6 1,559.4 1,602.9 1, 638.3 1, 670.1 1, 701.0 1,750.4 1, 796.5 1,850.0 1,894.9 1,945.0 1,975.3 2,067.4 , 123. 4
930.7
861.8 * 912. 2
859.6
844.7
825.8
772.9
800.2
711.4
718.6
741.9
758.0
768.1
832.6
381.4
351.2 «375. 8
347.4
339.1
346.5
315.6
269.9
288.6
301.8
312.4
332.2
273.7
341.3
512.2
510.6 «* 536. 4 549.3
486.7
457.3
498.2
441.5
453.4
456.2
455.7
468.0
444.9
491.3
977.6
952.0
893.6
926.4
850.0
808.1
706.1
749.7
766.9
787.1
875.3
832.3
726.4
862.8
232.8
223.4
204.9
191.3
203.8
168.7
146.5
158.1
160.5
160.3
196.8
174.3
153.0
191.8
17.6
20.1
16.7
13.1
21.9
10.2
11.4
15.4
17.0
-.6
10.3
4.6
-4.9
14.5
15.6
11.2
10.8
14.8
6.3
11.9
5.3
6.5
9.1
.1
5.2
6.1
8.4
-3.5
-8.6
9.3
6.4
9.3
1.9
10.0
6.8
4,9
8.9
7.9
5
.
8
4.2
8.0
3.7
11.3
5.3
7.2

GNP in constant (1972) dollars f
Gross national product, total!

Durable goods
Nondurable goods
Services

1,382.6

1, 394.3

857.7

779.7

791.1

806.3

814.0

820.9

836.2

846.6

849.5

858.0

876.6

873.5

886.3

893.7

125.9 I 137.8
320. 2
330.4
373.2
389.5

115.2
307.5
357.0

119.7
309.5
361.9

124.8
314.6
366.9

125.2
318.2
370.6

125.3
320.5
375.1

128.5
327.7
380.0

134.9
327.1
384.6

136.2
327.2
386.0

136.9
329.2
391.8

143.0
338.1
395.6

137.8
333.3
402.4

145.8
336.3
404.2

144.6
339.2
409.8

142.6

173.4

153.7

148.9

168.5

174.7

177.1

173.4

186.1

197.1

201.7

200.3

205.7

213.1

210.8

152.4
113.6
38.8
-9.8

166.8
118.9
47.8
6.7

151.5
112.0
39.5
2.1

154.1
111.8
42.3
-5.2

161.0
115.5
45.5
7.5

164.6
117.8
46.8
10.1

167.8
121.0
46.8
9.3

173.6
121.4
52.3
2

180.3
126.8
53.5
5.8

187.1
129.1
58.0
10.0

189.5
130.8
58.8
12.2

192.8
132.5
60.3
7.5

193.4
133.8
59.5
12.3

200.4
140.5
59.9
12.7

200.1
140.4
59.7
10.7

bil.$__ 1, 202.3

Personal consumption expenditures, total, .do
..do
do
do

Gross private domestic investment, total...do
Fixed investment
do
Nonresidential
do
Residential
do
Change in business inventories
do
Net exports of goods and services
do
Govt. purchases of goods and services, total.do
Federal
do
State and local
do

1,271. 0 1,332.7 1,220.0 1,227.9 1,255.5 1,268.0 1,276. 5 1,284.0 1,306. 7 1,325.5 1,343.9 1,354.5 1,354.2

774.6

819.4

112.7
306.6
355.3

196.3
187.4
129.8
57.7
8.9

22.6

15.4

9.5

22.8

22.2

16.5

16.1

16.1

13.1

11.2

11.0

12.5

3.1

2.9

11.3

12.0

262.6
96.5
166.1

262.8
96.6
166.2

269.2
101.6
167.6

263.8
96.7
167.2

265.7
97.3
168.4

264.3
96.2
168.1

263.2
95.9
167.3

262.5
96.8
165.7

261.3
97.5
163.8

262.8
98.7
164.1

267.9
101.3
166.6

271.7
102.9
168.8

274.5
103.6
170.9

272.1
101.2
170.8

271.9
97.1
174.8

277.8
101.9
175.9

r
Revised.
p Preliminary.
tRevised series. Estimates of national income and product
and personal income have been revised back to 1973 (see p. 16ff.of the July 1977 SURVEY and
p. 24 ff. of the July 1978 SURVEY); revisions prior to May 1977 for personal income appear on

p. 36 of the July 1978 SURVEY.
c

9 Includes data for items not shown separately.

Corrected.

S-l
275-875 O - 78 - SI




SUEVEY OF CURKENT BUSINESS

S-2
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1975

1976

1977

1975
IV

Annual total

October 1978
1977

1976

I

III

II

IV

I

II

1978

I

II

HI,

142. 63 144.56
141.6
143.2
129.5
130.9
145.7
147.0
142.3
144.4

147.10
146.2
133.1
150.4
147.1

150.98
149.3
135.7
154.4
149.9

153. 56
151.6
137.8
156.1
152.7

III

IV

IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCTf—Con.
Quarterly Data Seasonally Adjusted
Implicit price deflators:!
Gross national product
Index, 1972=100
Personal consumption expenditures
do
Durable goods _ _
do
Nondurable goods
do
Services...
do
Gross private domestic investment:
Fixed investment
_.
do
Nonresidential
do
Residential- . . .
_
do
Govt. purchases of goods and services
Federal
_. _
.
State and local

do
do _
do

127.15
126.4
117.7
133.4
123.2

133. 76
133.1
124.4
138.2
131.6

141. 61
140.7
129.5
145.0
141.0

130.14
129.1
119.9
136.2
126.2

131. 40
130.7
122.0
136.8
128.4

132. 92
132.1
123.6
137.4
130.3

134. 39
133.8
125.0
138.7
132.5

136. 28
135.6
126.8
139.9
134.9

138. 27
137.9
128.4
142.4
137.4

140. 86
139.9
128.9
144.7
139.7

132.3
132.2
132.8

139.6
138.4
142.5

150.6
146.7
159.4

135.5
135.5
135.6

136. 7
136.6
137.2

138.5
137.7
140.7

140.3
138.9
143.8

142.6
140.5
147.6

145.4
142.5
152.3

148.9
145.0
157.6

151.9
147.9
160.6

155.9
151.2
166.1

158.2
153.6
168.6

162.2
156.7
175.7

167.0
160.5
182.2

128.9
127.5
129.7

136.8
134.4
138.1

146.3
142.7
148.5

132.3
131.4
132.8

134.0
132.1
135.0

135.7
133.3
137.1

137.3
134.2
139.1

140.2
138.0
141.5

142.7
140.1
144.3

145.1
141.1
147.6

147.1
142.7
149.7

150.3
146.9
152.3

153.2
149.6
155.2

156.2
151.5
158.8

158.9
153.3
162.1

Quarterly Data Seasonally Adjusted at Annual Rates

National income, totalt

bil. $.. 1,215.0 1,359.2 1,515.3 1,271.8 1,319.8 1,347.9 1,372.1 1,397.0 1,447.5 1,499. 3 1,537.6 1,576.9 1,603.1 1,688.1

Compensation of employees, total
do
Wages and salaries, total
do
Govt. and govt. enterprises
do
Other
do
Supplements to wages and salaries
do_ ..
Proprietors' income with inventory valuation
and capital consumption adjustments,
total
bil. $
Farm _
do ..
Nonfarm ...
. .
do
Rental income of persons with capital consumption adjustment
_
bil. $..
Corp. profits with inventory valuation and capital consumption adjustments, total bil. $..
Corp. profits with invent, val. adj.:
Domestic, total
do
Financial
do
Nonfinancial, total9
...do
M^amifaptnrinc1 total 0
do
Durable coods
do
Transportation, communication, and
electric, gas, and sanitary serv bil. $..
Rest of the world
do

931.1
805.9
175.4
630.4
125.2

Profits before tax, total
do
Profits tax liabilitv
do
Profits after tax...
_
do
Dividends
do
Undistributed profits.
do
Inventory
valuation adjustment
do
Capital consumption
adjustment
do
Net interest
.
do
DISPOSITION OF PERSONAL INCOMEf

1,036.8 1,153. 4
890.1
983.6
187.6
200.8
702.5 782.9
146.7
169.8

967.8 1,001.7 1,026.0 1,046.1 1,073.3 1,107. 9 1,140.5 1,165. 8 1,199.7 1,241. 0 1,287.8 1,314. 7
836.1
861.7
881.5
897.3
919.9
946.4
973.4
993.6 1,021.2 ,050.8 1,090.2 ,111.2
181.3
183.7
186.1
188.1
192.6
195.2
198.1
201.7
208.1
211.4
213.9
216.9
654.8
678.0
695.4
709.2
727.2
751.2
775.3
791.9
813.1
839.3
876.3
894.3
131.7
140.0
144.6
148.8
153.4
161.5
167.1
172.2
178.4
190.2
197.6
203.5

87.0
23.5
63.5

88.6
18.4
70.2

99.8
20.2
79.5

91.2
25.1
66.1

88.6
20.9
67.7

88.8
19.6
69.3

87.4
16.9
70.5

89.5
16.3
73.2

95.6
19.4
76.1

98.9
20.0
78.9

97.2
16.5
80.8

107.3
25.1
82.3

105.0
21.9
83.1

110.1
24.0
86.1

113.2
23.5
86.1

22.4

22.5

22.5

22.5

22.5

22.4

22.4

22.8

22.5

22.4

22.4

22.7

22.8

22.2

24.4

95.9

127.0

144.2

110.3

126.8

128.6

130.0

122.5

129.9

143.7

154.8

148.2

132.6

163.4

101.8
13 0
88.9
48 3
18.3

133.2
17 5
115.6
65 6
28.1

149.5
20 9
128.6
74 7
35.1

118.7
13 6
105.1
59 3
23.2

132.3
15.8
116.4
67 0
27.4

135.4
17.0
118.4
67 5
29.7

136.3
18.3
118.0
65 9
28.5

128.7
19.1
109.7
61.9
26.9

134.8
19.7
115.1
66.4
29.9

148.1
19.9
128.1
77.4
37.2

159.5
21.9
137.6
74.7
34.2

155.6
21.9
133.7
80.2
39.1

139.2
22.7
116.6
69.8
32.8

168.9
24.3
144.6
87.8
46.1

9.2
6.1

13.7
8.2

16.1
9.6

12.7
5.9

12.4
8.9

14.3
7.6

14.9
8.2

13.3
8.2

15.4
9.7

14.5
10.4

17.5
10.3

17.1
7.9

17.3
9.4

19.3
11.7

120.4
49.8
70.6
31.9
38.7

155.9
64.3
91.7
37.9
53.8

173.9
71.8
102.1
43.7
58.4

137.2
56.9
80.3
32.6
47. 8

152.6
63.6
89.0
34.5
54.5

158.7
66.3
92.4
37.2
55. 2

157.8
64.7
93.1
38.4
54.7

154.6
62.4
92.2
41.4

164.8
68.3
96.5
41.5
55.0

175.1
72.3
102.8
42.7

177.5
72.8
104.8
44.1

178.3
73.9
104.4
46.3

172.1
70.0
102.1
47.0

205.5
85.0
120.5
48.1
72 4

-12.4
-12.0
78.6

-14.5
-14.4
84.3

-14.8
-14.9
95.4

-12.5
-14.4
80.0

-11.4
-14.4
80.1

-15.7
-14.4
82.0

-13.3
-14.5
86.2

-17.6
-14.5
88.9

-23.5
-16.1
101.7

-24.9
—17.2
104.6

Personal income, total
bil. $ 1,255.5 1,380.9 1, 529. 0
168.8
196.5
226.0
Less: Personal tax and nontax payments
do
1,086.7 1,184.4 1,303.0
Equals: Disposable personal income .
do
1,003.0 1,116. 3 1,236.1
Less: Personal outlays© .
do
83.6
68.0
66.9
Equals: Personal saving §
do
NEW PLANT AND EQUIPMENT
EXPENDITURES
Unadjusted quarterly or annual totals:
All industries
bil. $.. 112.78 120.49 135.80
47.95
52.48
60.16
Manufacturing
do
21.84
23.68
27.77
Durable goods industries^.
do
26.11
28.81
32.39
Nondurable goods industries!!
do
64.82
Nonmanufacturing
do
75.64
68.01
3.79
4.00
4.50
Mining
do
2.55
2.52
2.80
Railroad
..do
1.84
1.30
1.62
Air transportation
do
3.63
2.51
3.18
Other transportation
do
20.14
22.28
25.80
Public utilities
do
17.00
18.80
21.59
Electric
do
3.14
3.47
4.41
Gas and other
_ do
12 74
13 30 15.45
Communication
do
20.60
20.99
22.97
Commercial and other
do
Seas. adj. qtrly. totals at annual rates:
All industries
do
Manufacturing
do
Durable goods industries^
do
Nondurable goods industries!!
do
Nonmanufacturing
do
Mining
do
Railroad
do
Air transportation
do
Other transportation
do
Public utilities
do
Electric
do
Gas and other .
do
Communication
do
Commercial and other..
._
.do

munication.
separately.

-7.7
-15.0
97.3

-14.8
-15.3
99.0

-20.9
-19.3
107.0

30.74
13.30
5.99
7.30

25.87
10.96
4.78
6.18

29.70
12.66
5.61
7.05

30.41
13.48
6.02
7.46

34.52
15.38
7.27
8.12

29.20
12.52
5.80
6.72

33.73
14.84
6.79
8.06

34.82
15.60
7.17
8.43

38.06
17.19
8.00
9.18

32.35
13.67
6.36
7.31

37.89
16.76
7.79
8.97

137.60
17.13
7.94
9.18

143.66
20.45
9.56
10.89

17.44

14.91

17.04

16.93
1.04

19.14
1.05
.70

16.68
1.02

18.88
1.16

19.21
1.17

20.87
1.15

18.68
1.07

21.13
1.22

21.48
1.20

23.20
1.28

.97
.62
.43

.92
.49
.26

.35

.59
.33

.93

.72

1.02

.95

.94

.61

.76

.50

.63

.51

.60

.59

.82
.56
.62

5.70
4.85

4.79
4.18

5.50
4.74

5.52
4.54
3.33
5.19

3.30
5.27

7.28
6.06
1.21
4.26
6.33

3.97
5.76

7.14
6.01
1.13
4.56
6.18

8.35
7.13
1.23

3.21
5.21

6.61
5.41
1.20
4.03
5.73

7.32
6.14
1.18

2.92
4.82

6.37
5.34
1.03
3.86
5.64

6.15
5.27

3.26
5.52

6.46
5.34
1.12
3.84
5.78

5.55
4.78

.85

.62

210. 74

2 11.57

111.80
46.82
21.07
25.75

114.72
49.21
21.63
27.58

118.12
50.64
22.54
28.09

122.55
54.78
24.59
30.20

125. 22
54.44
25.50
28.93

130.16
56.43
26.30
30.13

134.24
59.46
27.26
32.19

140.38
63.02
29.23
33.79

138.11
61.41
28.19
33.22

144.25
61.57
28.72
32.86

150.76
67.20
31.40
35.80

155.13
68.66
32.11
36.54

158.98
73.62
33.89
39.72

64.98
3.82
2.39
1.65
3.56

65.51
3.83
2.08
1.18
3.29

67.48
3.83
2.64
1.44
4.16

67.76
4.21
2.69
1.12
3.44

70.78
4.13
2.63
1.41
3.49

73.74
4.24
2.71
1.62
2.96

74.78
4.49
2.57
1.43
2.96

77.36
4.74
3.20
1.69
1.96

76.70
4.50
2.80
1.76
2.32

82.68
4.45
3.35
2.67
2.44

83.56
4.81
3.09
2.08
2.23

86.47
4.80
3.64
2.97
2.37

85.36
5.07
3.05
2.08
2.05

20.91
17.92
3.00
12 22
20.44

21.91
18.56
3.36
12 54
20.68

21.85
18.82
3.03
12 62
20.94

21.67
23.46
18.22
19.49
3.45
3.96
13 64 ! 14.30
21.36
20.99

25.35
21.19
4.16
14.19
22.67

25.29
21.14
4.16
15.32
22.73

26.22
21.90
4.32
16.40
23.14

26.23
22.05
4.18
15.82
23.27

27.92
23.15
4.78
17.07
24.76

30.22
28.46
29.26
23.83
25.94
25.04
4.62
4.22
4.28
18.18
24.71 2 42. 63 2 42.21

* Includes com-

fSee corresponding note on p. S-l.
9 Includes data for items not shown
©Personal outlays comprise personal consumption expenditures, interest paid




-16.6
-14.8
93.7

50.1

1,305. 4 1,336. 9 1,363. 2 1,392.8 1,430.5 1, 470. 7 1, 508. 6 1, 543. 7 1, 593. 0 1,628.9 1,682.4 1,727.2
179.6
184.4
192.6
200.0
209.0
222.7
223.3
224.6
233.3
237.3
249.1
262.5
1,125.8 1,152.5 1,170.6 1,192.8 1,221. 5 1,248.0 1,285.3 1,319.1 1,359.6 1,391.6 1,433.3 1,464.7
1,046.0 1,078.9 1,100.7 1,124. 8 1,160.9 1,195.8 1,217.8 1, 244. 8 1,285.9 L, 309. 2 ' 1,357.0 L, 390. 2
79.8
73.6
69.9
68.1
60.7
52.2
67.5
74.3
73.7
82.4
76.3
74.4

r
Revised.
J» Preliminary.
* Estimates (corrected for systematic biases) for JulySept. 1978 and Oct.-Dec. 1978 based on expected capital expenditures of business. Expected

expenditures for the year 1978 appear on p. 23 of the Sept. 1978 SURVEY.

-20.3
-14.6
91.7

CO I

.99
.68
.42

.76

.64
.26

.98

.77

.67
.43

.78
.39

.76
.46

.71
.52

.88

.83
.60

.90
.73

by consumers to business, and personal transfer payments to foreigners (net).
§ Personal saving is excess of disposable income over personal outlays.
lIData for individual durable and nondurable goods industries components appear in the
Mar., June, Sept., and Dec. issues of the SURVEY.

SUKVEY OF CURRENT BUSINESS

October 1978

1976

1975

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are a s shown in
the 1975 edition of BUSINESS STATISTICS

1975

1977

Annual total

III

S-3

1976
IV

I

II

1978 v

1977

III

IV

I

II

III

IV

I

II

47,134
31,012

45,023
29,434

48,221
30,664

53,720
35,067

1,918
8,220
5,984

1,547
7,997
6,045

1,842
9,381
6,334

2,207
9,917
6,529

III

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. INTERNATIONAL TRANSACTIONS
Quarterly Data Are Seasonally Adjusted
(Credits+; d e b i t s - )
Exports of goods and services (excl. transfers under
military grants).
mil. $.. 155,656
107,088
Merchandise, adjusted, excl. military
do
Transfers under U.S. military agency sales con3,919
tracts
...mil. $..
25,359
Receipts of income on U.S. assets abroad.-.do
19,290
Other services
do
Imports of goods and services
do
Merchandise, adjusted, excl. military.
do
Direct defense expenditures
do
Payments of income on foreign assets in the
U.S...
...mil. $..
Other services
.do

Foreign assets in the U.S., net
Foreign official, net
Other foreign, net
Direct investment in the U.S

on
on
on
on

40,760
27,657

7,079
32,100
23,451

957
6,360
4,865

1,164
6,884
5,055

5,213
29,244
22,124

33,066 -34,131 -37,644 -39,268 -41,933 -43,068 -46,375 -47,711 -48,728 -50,928 -53,797 -55,628
24,483-25,431 -28,352 -29,963 -32,418 -33,314 -36,496 -37,258 -38,265 -39,639 -41,865 -42,869
1,096 -1,198 -1,159 -1,219 -1,235 -1,288 -1,344 -1,407 -1,451 -1,542 -1,632 -1,632

-5,022 -4,708
-3,145 -2,776
-1,878 -1,932

-1,070
-617
-453

-39,444 -50,608 -34,650 -5,108
-607 -2,530
-342
-231
-3,470 -4,213 -3,679
-745
-43,865 -30,740 -4,021
-14,244 -11,614 -12,215 -1,495

do.
.do.
do.
.do.

18,073
18,897
4,347

do..
do..

5,449

9,300

merchandise trade. _
do..
goods and services..
'.
do..
goods, services, and remittances..do..
current account..
.do..

9,047
23,060
21,339
18,445

-9,353
9,361
7,483
4,339

1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

42,449 44,160 44,291 44,753 46,277
28,380 29,602 29,711 29,479 30,630
1,189
1,095
1,472 1,457
1,912 1,702
7,027 7,369 c 7,428 7,420 7,796 8,088
5,252 5,511
5,658 5,703 5,566 5,857

40,375
27,001

-12,564 -13,311 -14,593 -3,212 -2,973 -3,405 -3,332 -3,293 -3,281 -3,197 -3,601 -3,610 -4,185 -4,503 -5,297
-17,194 -19,655 -21,746 -4,275 -4,529 -4,728 -4,754 -4,987 -5,185 -5,337 -5,445 -5,401 -5,563 -5,796 -5,830

15,550
6,907
8,643
2,603

Allocations of special drawing rights
Statistical discrepancy
Memoranda:
Balance
Balance
Balance
Balance

38,744
26,562

-132,595 -161,913 -193,741
-98,041 -124,047 -151,658
-4,795 -4,901 -5,745

Unilateral transfers (excl. military grants), net
mil. $.. -4,615
-2,894
U.S. Government grants (excl. military)...do
Other
d o . . . . -1,721
U.S. assets abroad, net
..do..
U.S. official reserve, net.
do..
U.S. Gov't, other than official reserve, net.-.do.
U.S. private, net.
do.
Direct investment abroad
do..

171,274 183,184
114,694 120,555

-1,028
-546
-482

-1,040
-592
-448

14,179 -12,365 -11,740
-773 -1,578
89
-762
-932
-977
13,291 -10,830 -9,230
4,736 -3,923 -2,047

-1,908 -1,047
-1,440 -567
-480

-1,126 -1,243 -1,277 -1,064 -1,282
-763
-636
-787
-591
-778
-480
-473
-490
-490
-504

6,177
2,851
3,326
1,369

7,590
3,819
3,771
1,472

7,914
4,017
3,897
1,086

8,932
3,070
5,862

12,534
7,166
5,367
790

2,490
5,451
-2,962
880

-954 -2,274

2,614

3,073

1,685

1,018

3,525

1,592

-2,816 -3,603
2,227 1,223
1,759
743
319
176

-7,017
-1,622
-2,112
-2,748

-31,103
-10,558
-12,489
-15,265

2,079
5,678
5,225
4,608

2,226 -1,351 -1,583
3,181
6,629
2,731
2,249
2,733
6,193
1,703
2,141
5,388
I

14,064
7,884
6,180

14,251
8,246
6,005
1,012

20,065
15,543
4,522
450

18,095
15,760
2,336
812

616 - 4 , 766

1,604

3,798

-6,628
-1,434
-1,914
-2,677

Sept.

Oct.

229
-4,924
5,152
1,347

-7,253 -10,205 -11,201 -7,802
-1,594 -5,905 -5,576 -1,908
-2,084 -6,378 -6,080 -2,457
-6,858 -3,261
-2,871

1978

1977

Aug.

-1,353
-804
-549

-10,269 -16,235 -1,334 -12,003 -6,615 -14,700 -15,036 -4,966
6
-407
151
-388
246
228
329
-795 -1,098
-1,340 -1,180
-949
-896 -1,151
8
-8,522 -15,283
3 -11,214 -5,668 -13,862 -14,386 -4,144
-3,081 -2,563
2,177 -3,729 -3,113 -3,197 - 4,945 -4,166

2,774
-1,648
4,422

50,869
37,124
13,746

1977

Annual

1,241
-805
-436

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept

GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCEf
Seasonally adjusted, at annual ratesif
Total personal income

bil. $.

1, 529.0

1,540.7 1,556.9 1,577.0 1,592.7 1,609.2 1,615.5 1,625.0 1,646.3 1,669.4 1,682.1 1,695.7
991.5 1,000.4 1,014.1 1, 022.3 1, 027.3 L, 038.3 1,047.4 1,066.6 1,083.9 1,088.4 1,098.4
390.9
386.2
364.4 374.3 383.9
358.3
350.4
358.2 359.0
346.9
354.8
298.1
295.9
286.5 292.4 294.3
270.7
277.1
280.5 281.9
268.4
274.2
266.1
268.3
264.9
243.1
247.4
249.5 253.3 256.2 261.3
240.2
245.6

'1 ,718.8

'1,727.3 1,735.6

'1,108.2
395.4
301.6
• 269.8

1,110.1 1,114.4
' 395.3 397.0
' 301. 0 303.0
' 270.4 271.0

Wage and salary disbursements, total
do
Commodity-producing industries, total-do
Manufacturing
do
Distributive industries
do~~~!

890.1
307.5
237.5
216.4

983.6
343.7
266.3
239.1

Service industries
Govt. and govt. enterprises
Other labor income
Proprietors' incomerA
Farm..
Nonfarm

do
do___.
do

178.6
187.6
77.0

200.1
200.8
90.4

202.6
201.8
92.2

203.9
202.9
93.5

206.9
206.8
94.8

208.3
208.4
96.1

210.3
209.2
97.3

215.3
210.6
98.7

215.1
211.6
100.0

219.0
212.0
101.3

222.2
213.0
102.7

222.0
213.9
104.0

224.3
214.9
105.4

...do....
do

18.4
70.2

20.2
79.5

15.0
80.8

18.5
81.0

22.1
81.4

24.6
82.2

28.5
83.2

25.6
82.0

21.5
83.0

18.6
84.4

'22.0
85.5

24.8
86.1

25.3
86.7

'24.0
'88.4

'23.3
'90.1

23.3
90.5

22.5
43.7
141.2
208.8

22.4
44.1
143.7
212.1

22.4
44.4
145.1
213.3

22.4
45.1
145.3
214.2

22.6
45.5
145. 5
216.5

22.9
48.3
147.3
217.2

23.0
46.8
149.6
218.1

22.8
47.0
151.4
219.0

22.6
47.2
153.3
220.3

22.3
47.4
154.8
219.7

22.1
48.0
156.5
221.3

22.1
49.0
157.6
220.8

24.3
49.2
159.1
' 229.0

24.4
50.3
160.6
230.5

24.5
50.7
162.5
231.1

Rental income of persons, with capital consumption adj ustment _
bil. $
22.5
Dividends
do....
37.9
Personal interest income
_
do
126.3
Transfer payments
do".!
193.9
Less personal contributions for social insurance
bil. $_.
55.5
Total nonfarm income..
do
1,349.5

• 227.2 ' 227.8
' 215.8 ' 216. 7
106.7 ' 107.9

229.0
217.5
109.1

70.5
70.3 '70.3
69.6
69.0
68.9
68.0
67.0
66.5
61.3
62.4
62.8
61.0
61.6
62.6
1,494.4 1,511. 2 1,523.9 1,540.1 1,553.1 1,565.5 1,574.7 1,588. 3 1,612. 5 1,631.9 1,641.8 1,654.7 1,679.7 '1,688.0 1,696.2

FARM INCOME AND MARKETING!
Cash receipts from farming, including Government
payments, total!mil. $..

95,060

'96,889

7,651

8,392

11,054

10,573

9,883

9,162

7,038

7,407

7,377

7,730

8,403

Farm marketings and CCC loans, total
do
Crops
do
Livestock and products, total 9
do
Dairy products._
.do
Meat animals
— .do".I
Poultry and eggs
do

94,326
47,937
46,389
11,425
27,188
7,192

195,025
i 47,572
147,453
i 11,782
i 27,909
17,207

7,603
3,590
4,013
995
2,331
641

8,304
4,236
4,068
972
2,420
634

10,968
6,515
4,453
979
2,812
619

10,469
6,356
4,113
959
2,528
587

8,853
4,725
4,128
1,007
2,480
584

8,807
4,877
1,008
2,336
543

6,873
2,858
4,015
944
2,492
538

7,256
2,402
4,854
1,064
3,098
652

7,079
2,429
4,750
1,076
2,883
610

7,580
2,686
4,794
1,108
3,161
571

3,571
4,768
1,046
2,973
697

Indexes of cash receipts from marketings and CCC
loans, unadjusted:!
All commodities..1967=100..
Crops
_._
do
Livestock and products
do

220
260
190

222
258
195

213
234
197

233
276
200

307
424
219

293
414
202

248
308
203

240
297
197

192
181
201

205
178
226

199
156
232

217
181
244

'235
232
235

Indexes of volume of farm marketings, unadjusted:!
All commodities
1967=100.
121
124
176
124
131
Crops.
do
134
138
243
138
153
Livestock and products
do
111
113
129
113
115
' Revised.
* Preliminary.
i Reported annual total; revisions are not reflected in the
monthly data.
* Less than $500,000(±).
jSee corresponding note on p. S-l.
Alncludes inventory valuation and capital consumption adjustments.
iSeries revised begin-




'7,342
' 3,680
' 3,662
1,058
1,764
791

••206

'240
'180

9,100
4,300
4,800
1,200
2,900
700

254
282
233

127
'113
110
102
101
100
139
133
169
150
124
113
86
75
98
86
238
172
172
110
'104
109
113
111
103
111
120
116
106
ning 1973; revisions for periods prior to May 1976 are available from the U.S. Dept. of Agr.,
Economic Research Service.
c
9 Includes data for items not shown separately.
Corrected.

S-4

SURVEY OF CURRENT BUSINESS
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1977

Annual

October 1978
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug. v Sept. i

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTIONS
Federal Reserve Board Index of Quantity

Output

Not Seasonally Adjusted

1967=100..

129.8

137.1

138.2

142.4

142.7

19.5

134.9

134.8

139.6

141.4

144.2

144.2

148.8

141.7

146.6

151.6

do
.do
do
do
...do
...do.
do.
do.

129.3
127.2
136.2
141.4
134.1
114.6
137.2
130.6

137.1
134.9
143.4
153.1
139.6
123.2
145.1
136.9

139.5
136.4
145.9
140.0
148.2
123.5
150.9
136.3

145.1
142.9
152.9
158.8
150.5
129.2
153.2
138.0

144.3
142.0
152.4
168.1
146.2
127.7
152.7
140.5

139.5
136.9
144.4
157.6
139.1
126.6
149.0
139.4

133.8
131.1
135.8
144.4
132.4
124.6
144.1
136.5

133.5
131.0
136. T
142.7
134.3
123.1
142.5
137.0

139.0
136.6
143.4
155.7
138.5
127.1
148.0
140.6

141.0
138.6
145.3
162.4
138.4
129.3
150.3
142.1

143.2
140.7
148.4
169.7
140.0
130.1
152.6
146.1

142.1
138.9
145.2
163.7
137.7
130.4
153.8
147.0

148.2
145.1
152.1
167.6
146.0
135. 6
159.9
149.7

141.6
138.1
142.4
143.7
141.9
132.2
154.7
142.0

146.6
142.9
149.5
146.0
150.8
134.4
160.3
146.4

153.1
150.2
157.4
165.9
154.1
140.2
164.1
149.3

.do.

131.6

136.2

138.8

137.3

134.1

132.9

135.0

142.0

139.9

136.3

137.0

136.4

142.4

145.3

147.5

144.8

.do.
do.

129.5
140.9
121.7

137.1
148.1
129.5

138.2
154.1
127.2

142.8
156.2
133.7

144.1
155.8
136.0

140.3
151.0
132.9

134.8
143.0
129.2

133.9
142.8
127.8

139.6
148.7
133.2

142.1
150.5
136.3

145.1
153.3
139.5

145.1
153.5
139.2

149.7
159.3
143. 0

141. 2
150.3
• 135.0

146.5
159.9
137.5

152.4
163.0
145.0

129.8

137.1

138.1

138.9

139.3

139.7

138.8

139.2

140.9

143.2

143.9

144.9

145.9

146.7

147.5

.do.
do.
.do.

129.3
127.2
136.2

137.1
134.9
143.4

138.4
136.3
144.7

138.8
136.8
144.9

138.9
136.5
144.9

139.5
137.0
145.2

140.3
137.6
145.8

138.5
134.9
141.8

139.6
136.4
143.8

141.6
138.9
145.9

143.0
140.5
147.5

143.1
140.5
147.0

' 144. 0
' 141. 1
r 147. 0

• 144.7
141.9
• 147.5

145.9
143.0
148.2

146.4
143.4
148.3

do.
do.
do.
...do.
do.

141.4
154.8
149.8
132.0
167.6

153.1
174.2
169.2
148.4
186.8

154.7
177.2
173.1
150.9
187.3

155.6
177.0
172.6
151.6
188.1

156.8
179.4
176.1
154.3
187.6

155.2
173.6
167.6
147.5
188.7

155.8
172.4
165.5
143.6
190.4

146.5
157.5
145.5
127.4
187.8

151.2
162.8
153.9
131.5
185.3

157.5
175.8
171.0
149.7
188.5

161.8
184.3
182.7
159.1
188.2

160.2
180.0
175.6
151.6
191.5

'160.6
' 179. 9
174.3
149.8
r 193.9

' 160.6
' 182.3
• 176.7
152.7
' 196.4

161.2
181.8
175.6
151.1
197.4

160.0
178.4
170.5
144.4
198.2

Home goods
do.
Appliances, air cond., and TV...do.
Carpeting and furniture
do_

133.9
114.6
144.1

141.3
127.3
152.2

142.1
129.6
154.8

143.6
129.4
159.0

144.2
128.6
160.5

145.0
131.4
160.0

146.6
132.8
161.5

140.3
116.1
159.1

144.6
133.3
160.2

147.2
135.4
159.3

149.2
142.2
158.9

148.9
138.3
163.4

r 149. 7
' 139. 0
166.0

' 148.4
r
133.8

149.4
135.0
169.5

149.8
133.6

do.
do.
.do.
do.
do.

134.1
124.0
136.9
130.7
144.1

139.6
125.2
143.6
135.5
152.9

140.6
126.4
144.6
137.9
152.4

140.7
128.3
144.1
137.1
152.4

140.1
128.0
143.5
135.2
153.4

141.2
126.4
145.3
136.7
155.1

141.8
126.9
145.9
137.9
155.2

139.9
118.3
145.9
136.5
156.6

140.8
121.1
146.3
138.3
155.8

141.3
122.4
146.4
138.7
155.3

141.8
124.9
146.6
140.8
153.3

141.7
125.4
146.2
139.9
153.4

'
'
'
'
'

143.0

143.5

147.8
140.8
156.2

~I56.~3~

Equipment
do.
Business equipment
do.
Industrial equipment 9
do.
Building and mining equipment.do.
Manufacturing equipment
do.

114.6
136.3
128.0
177.7
106.5

123.2
149.2
138.5
202.5
113.9

124.9
151.1
140.4
203.9
115.3

125.6
152.1
141.4
204.5
117.6

125.0
152.6
141.8
205.7
118.5

125.8
153.5
142.6
206.7
118.7

126.2
154.0
143.0
208.3
118.2

125.4
152.6
144.3
211.1
118.8

126.2
154. 2
144.6
214.9
117.7

129.1
157.4
146.9
221.7
118.3

130.8
159.3
147.8
225.1
119.0

131.6
160.2
149.7
226.0
121.3

133.0
161.8
' 150. 9
227.3
122.8

r 142. 3
125.1
' 147. 2
' 140.1
' 155.4
r 134.4
163.5
r 151.7
r 229.0
r 122.5

135.9
165.2
153.0
229.4
123.6

136.7
166.2
153.7
230.1
124.0

do.
do.
do.

145.8
173.5
104.1

161.6
191.6
117.8

163.4
193.0
121.9

164.4
193.7
125.1

165.1
195.4
122.3

165.9
197.4
118.9

166.9
198.8
121.1

162.2
198.5
111.1

165.5
200.9
115.9

169.4
202.0
126.1

172.6
203.8
133.7

172.3
204.2
132.2

' 174.4
'206.9
' 132. 3

r 177. 1
r 210. 1
' 135. 0

179.4
212.0
137.5

180.8
212.6
140.5

do

78.4

79.6

80.8

80.9

78.9

79.3

79.5

79.7

79.2

81.9

82.9

83.6

84.6

Total index
By market groupings:
Products, total
Final products
Consumer goods
Durable consumer goods
Nondurable consumer goods
Equipment
Intermediate products
Materials
By industry groupings:
Mining and utilities...
Manufacturing
Nondurable manufactures
Durable manufactures

do.

Seasonally Adjusted

Total index
By market groupings:
Products,
~ " s, total
total
Final products
Consumer goods

1967=100..

Durable consumer goods
Automotive products
Autos and utility vehicles
Autos
Auto parts and allied goods

Nondurable consumer goods
Clothing..
Consumer staples
Consumer foods and tobacco
Nonfood staples..

Commercial, transit, farm eq. 9
Commercial equipment
Transit equipment
Defense and space equipment
Intermediate products
Construction supplies
Business supplies
Materials
Durable goods materials 9
Durable consumer parts
Equipment parts
Nondurable goods materials 9
Textile, paper, and chemical
Energy materials..
By industry groupings:
Mining and utilities
Mining
Metal mining
Coal.

r 168.1

85.4

148.3

86.5

87.2

do..
.do..
...do..

137.2
132.6
141.8

145.1
140.8
149.5

146.1
141.7
150. 6

146.5
143.2
149.7

147.8
144.9
150.5

148.4
146.5
150.1

150.4
148.3
152.6

151.6
149.2
153.8

151.4
148.6
154.2

151.4
147.9
155.0

152.1
148.5
155.6

152.6
150.4
155.0

r 154.7
152.1
157.0

r 155.5
r 153. 6
r 157. 5

156.4
155.3
157.5

157.3
155.9

do.
do.
...do.
do.
do.
do.
do..

130.6
126.8
121.6
133.9
146.3
151.1
120.2

136.9
134.5
132.0
143.1
153.5
158.3
122.4

137.6
135.4
135.2
145.6
155.1
159.6
121.4

137.9
135.7
135.8
146.8
153.9
159.0
123.5

138.9
137.1
135.4
147.6
154.4
160.0
124.0

139.0
137.2
136.5
147.2
155.4
159.3
123.0

138.8
138.7
135.7
149.2
155.3
159.3
118.7

139.2
138.2
133.0
148.7
155.0
160.7
122.2

138.6
137.0
131.1
146.6
158.5
162.8
117.7

139.9
138.6
133.1
151.3
160.5
165.7
117.5

143.7
142.7
136.8
154.8
162.0
166.4
123.9

145.1
143.9
137.9
155.8
163.5
167.9
125.2

146.4
' 145. 4
r 138. 7
157.4
' 164.1
'168.8
r 127.5

r
r
r
r
r
r
r

147. 8
148. 5
142. 1
161. 1
162. 3
168. 0
127. 9

148.0
149.4
142.8
162.2
162.1
166.3
127.5

149.2
150.6
143.6
163.4
163.5
167.9
127.9

...do.
do.
do.
do

131.6
114.2
122.8
117.2

136.2
117.8
105.4
118.0

134.4
115.4
70.0
113.6

135.1
118.0
71.4
133.0

135.8
119.6
80.0
141.4

135.5
118.8
84.8
140.6

133.9
113.4
104.3
74.6

137.4
115.0
121.4
54.8

137.7
114.4
119.9
56.5

138.2
119.3
127.6
78.4

140.9
127.2
122.3
129.5

140.9
126.7
120.0
131.7

142.5
128.0
121.1
136.4

• 142. 7
• 127.3
118.2
132.3

142.5
126.2
117.3
126.1

142.5
125.4

121.1
96.9
108.8
130.0

120.4
92.7
108.7
129.1

123.3
94.0
109.9
128.2

127.3
99.4
107.6
128.9

126.3
95.4
112.2
130.1

127.1
'97.3
113.2
130.7

• 126.8
'97.0

126.4
97.7

126.9

115.0

.do.
do.
do.
do.

112.0
92.2
109.5
118.3

118.0
92.4
110.4
124.9

119.3
92.8
111.0
125.0

119.6
94.7
105. 4
126.7

119.4
94.4
108.5
128.1

117.8
92.9
107.1
127.2

118.4
93.4
109.6
126.5

• 131. 3

130.9

do.
do.
do.
do
do.
do.
...do.
do.

151.0
167.6

156.5
175.5

155.7
175.4

154.1
173.7

154.0
173.6

154.2
173.3

156.7
175.9

162.3
183.6

163.5
184.3

159.5
178.8

156.0
175.0

157.0
177.1

158.6
180.1

159.9

160.6

161.4

129.5
140.9
132.3
111.2
113.8
156.7

137.1
148.1
137.9
114.0
117.4
167. 6

138.6
149.4
139.3
116.1
118.2
168.0

139.0
149. 5
138.3
116.1
118.9
166.0

139.4
149.6
137.3
112.0
118.9
168.1

139.9
150.1
139.4
114.8
119.9
168.4

140.5
150.9
140.4
111.6
119.2
167.6

138.7
149.8
139.3
109.2
119.0
174.5

139.4
150.6
140.8
117.9
118.7
176.0

141.4
151.4
141.1
113.8
119.7
172.6

143.5
153.2
143.1
116.1
119.8
181.1

144.3
154.0
142.8
113.6
118.9
177.8

• 145. 5
• 154.9
141.8
111.4
119.4
• 175. 7

146.6
155. 0
• 142.8
115.2
119.8
• 184. 0

147.4
155.3
143.9
115 2
120.6
180.0

148.2
156.0

Tobacco products
Textile mill products
Apparel products
Paper and products

do
do.
do.
...do.

117.9
136.4
122.2
133.0

114.3
137.1
124.2
137.4

117.0
136.6
124.1
140.3

113. 5
140.7
127.7
139.1

113.8
142.4
129.0
137.9

117.5
141.6
125.1
137.8

120. 6
143.7
125.8
138.6

113.4
137.1
118.6
139.9

117.7
136.4
121.1
143.9

115.6
135.1
122.8
144.9

121.0
138.1
126.1
145.7

120.2
138.5
125.8
14G.6

122.7
140.4
126.8
• 148. 0

121.8
• 141.1
• 124.6
• 140.5

Printing and publishing
Chemicals and products.—
Basic chemicals

do..
do.
...do..

120.6
169.3
158.6

124.7
180.7
165. 3

125.0
182.6
168.7

124.2
181.3
164.3

125.7
182.3
163.9

126. 2
183.1
164.3

127.5
183.0
164.1

129.9
184.4
165.1

128.3
183.7
163.0

129.1
185.2
167.3

128. G
185.5
171.0

128.2
188.1
174.9

128.7
• 191.1
178.7

.do
do
do

133.1
200.2
80.9

141.0
232.2
75.3

139.9
237.4
74.5

141.9
239.5
74.0

141.4
236.3
77.0

140. 5
238. 5
78.1

139.3
240.1
77.3

139.7
238.7
74.5

139. 0
240.0
73.0

140.1
243.1
72.1

141.7
249.1
76.0

143.4
252. 7
75.7

• 142.8
255.5
75.1

Oil and gas extraction 9 . .
Crude oil
Natural gas
Stone and earth minerals.
Utilities..
Electric
Manufacturing
Nondurable manufactures
Foods 9
Meat products
Dairy products
Beverages..

.

Petroleum products
Rubber and plastics products
Leather and products
r

141. 6
124. 8
146. 3
139. 0
154. 8

Revised.

v Preliminary.

i Estimated.

d" Monthly revisions back to 1967 will be

shown later; effective Sept. 1977 SURVEY, indexes revised to reflect more up-to-date information.
9 Includes data for items not shown separately.




139.8
140.6

145.2

130.4
• 192. 0
' 174.6

129.8
191.8
176. 9

129.7

• 143.9
• 258. 9
'74.5

144.6
261.1
75.0

145.7

NOTE FOR P. S-5:
O Revised back to Jan. 1975 to reflect corrections in reporting errors in the machinery industry, and corrections in classifications in the aircraft and machinery industries; revisions
prior to Apr. 1976 are available from the Bur. of the Census. Wash., D.C. 20233.

October 1978

\K1

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

O F (JUKIKEJN'JL1 J3U SlJNJi SIS
1977

1977

Annual

S-5

Aug.

Sept.

Oct.

1978

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug. v Sept. i

GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION\— Continued
Federal Reserve Board Index of Quantity
Output—Continued
Seasonally Adjusted—Continued

By industry groupings—Continued
Manufacturing—Continued
Durable manufactures .
_ 1967=100
Ordnance, pvt. and govt._ _ _
_do_
Lumber and products
__do_
Lumber
do
Furniture and fixtures
do _
Clay, glass, and stone products
_do__
Primary metals
__do__
Iron and steel
do
Basic iron and steel
do
Steel mill products. __ _ __
do
Nonferrous metals
do
Fabricated metal products. __
do
Nonelectrical machinery
do
Electrical machinery
do
Transportation equipment _
do
Motor vehicles and parts _._ __ _ do__
Aerospace and misc. trans, eq
do
Instruments

__

BUSINESS SALES §
Mfg. and trade sales (unadj.), total t© A

do

129.5
73.9
133.4
110.6

131.3
75.5
131.8
107.2

131.7
75.1
137.1
111.2

132.4
74.4
135.7
115.7

132.7
74.1
137.5
103.7

133.4
73.8
138.1
119.6

131.1
72.3
138.5
109.6

131.5
71.2
135.5
108.9

134.4
72.7
136.5
103.7

136.9
73.0
136.9
109.9

137.6 ' 139. 0 140.8
74.3
74.7 '75.2
136.5 ' 138.7 ' 138.4
106.0
110.6
112.8

142.0
76.3
138.6

132.7
137.1
108.9
104.9
100.7
108.9
115.9

140.9
146.1
110.2
103.4
97.4
105.3
122.4

142.9
148.8
112.5
110.6
102.8
114.1
114.5

145.6
145.5
109.0
104.6
101.3
102.2
117.0

146.6
148.0
113.5
107.7
99.1
110.4
123.6

146.0
152.8
111.2
104.3
95.7
104.2
123.5

146.6
152.1
111.0
103.8
94.7
105.7
123.3

146.4
152.2
107.4
99.5
91.4
104.9
121.7

150.1
152.6
106.2
96.3
89.7
98.0
124.0

149.5
154.2
106.1
96.4
88.2
99.8
123.9

148.9
156.7
114.3
109.0
97.4
116.9
124.7

152.8
157.9
115.5
110.5
104.7
118.1
124.8

158.1
159.4
123.0
119. 0
110.5
133.6
' 129. 1

160.2
159.7
124.4
120.7
114.7
124.8
131.0

123.3
135.0
131.6

130.9
144.8
141.9

134.0
145.2
143.9

133.6
147.4
144.6

133.8
148.9
144.2

135.8
149.7
146.0

136.4
151.7
147.3

136.9
150.1
144.0

136.9
150.1
146.4

138.1
151.5
149.5

139.5
152.2
152.3

140.4
142.3 ••144.0
152.9 ' 154.6 ' 156.1
152.9
154.1 ' 156.4

145.4
157.2
157.1

146.7
158.5
157.8

110.6
140.7
82.2

121.1
159.7
84.7

124.3
164.4
86.5

125.5
165.6
87.7

124.3
168.4
82.8

122.0
163.0
83.3

122.2
161.8
84.9

116.2
146.6
87.6

118.4
153.1
85.8

126.5
165.1
90.1

130.5
171.7
91.8

130.1 ' 130.4 ' 132.1
168.3 ' 167.7 ' 169. 7
93.9
95.0 ' 9 6 . 5

133.7
171.0
98.6

133.2
168.0
100.5

148.2

159.1

158.3

160.3

162.2

163.1

164.7

163.4

163.5

168.7

170.5

169.8 ' 170. 9 ' 172. 0

173.1

174.1

' 156. 2
' 159.8
' 117.5
114.5
109.4
122.9
' 123.2

'
'
'
'

125.1

mil. $_. 2,409,117 2,685,519 226,776 230,455 234,033 232,197 241,801 209,707 224,582 251,459 250,018 257, 761 265,651 240,107 260, 060

Mfg. and trade sales (seas, adj.), total feA.-do
Manufacturing, total t©
Durable goods industries
Nondurable goods industries
Retail trade, totalA
Durable goods storesA
Nondurable goods stores
Merchant wholesalers total
Durable troods establishments
Nondurable goods establishments

*
142.7
76.8

121.7
72.7
125.1
105.8

do
do
do
do
do
do
do
do
do

22,409,117 22,685,519 '224,404 225,305 '228,450 231,550 237,017 230,294 238,165 242,627 250,606
1 185 716 2l,335,072 112 019 112,586 114,091 114,342 117,938 14,322 118, 982 21,101 124, 537
608 363 699,193 58 649 59,285 60,316 60,228 62,130 59,973 63,077 64,457 66,493
577 353 635 879 53 370 53,301 53 775 54 114 55,808 54,349 56,905 56, 644 58,044

251,869 252,639 250,853 257,007
123, 566 124,839 123,039
65,417 66,293 64,847
58,149 58, 546 58,192

2 642,507 2 708,344 ••59,177 '59,412 '60,720 '61,650 '61,813 '59,987 '61,548 '62,649 '63,917 '64,292 '64,565 '64,343
210,530 238,815 '20 141 '20,161 '20,835 '20,795 '20,674 '19,914 '20,445 '20,897 '21,807 '21,821 '22,092 '21,844
431 977 469 529 39 036 39 251 39 883 40 855 41,139 40 073 41,103 41,752 42,110 42,471 42, 473 42,571
2 580 894 2642 104
246 732 285,605
334 1G2 356,498

53 208 53,307
24 390 24,150
28 818 29,157

53 639 55 558
24,997 25 601
28,642 29,957

57,266
26,488
30,778

55,985
25,568
30,417

57,635
26,976
30,659

58,877
27,466
31,411

62,152
28,974
33,178

64,011
28,692
35,319

63,235
28, 738
34,497

65,505
22,755

63,190
29,889
33,301

BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of year
or month (unadj.), total tA© .
mil. $

308,601

333,821 322,953 327,165 332,444 337,922 333,821 337,433 341,939 349,204 352,432 354,647 354,157 355,639 356, 895

Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total tA©
mil. $__ 309,238 334,785 327,639 330,345 330,832 333,186 334,785 337,676 340,396 345,839 350,545 354,226 356,920 '359,301 362,069
Manufacturing, totalt©
__ .
Durable goods industries.._
Nondurable goods industries
Retail trade, totalA—
_
Durable goods stores.. .
Nondurable goods stores
Merchant wholesalers, totalA
Durable goods establishments
Nondurable goods establishments

169,886 179,714 178,082 179,011 179,301 179,840 179,714 180,977
do
108,968 115,424 113,917 114,467 114,448 115,212 115,424 116,278
do
__do __ 60,918 64,290 64,165 64,544 64,853 64, C2S 64,290 64,699
87,073 84,462 85,215 85,322 86,299 87,073 87,708
78,045
do
36,417
40,534 39,303 39,559 39,589 40,087 40,534 41,060
do
41,628
46,539 15,159 45,656 45,733 46,212 46,539 46,648
do
67,998 65,095 66,119 66, 209 67,047 67,998 68,991
61,307
do_
44,368 42,396 42,896 43,014 43,642 44,368 44, 686
38,177
do
23,630 22,699 23,223 23,195 23,405 23,630 24,305
23,130
__do

BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, totalt©A
ratio..
Manufacturing, totalt©
do
Durable goods industries!
do
Materials and supplies
do
Work in process
_
do
Finished goods
_ do
Nondurable goods industries!©
do
Materials and supplies
do
Work in process
do
Finished goods..
_
do
Retail trade, totalA
do
Durable goods storesA
do
Nondurable goods stores
do
Merchant wholesalers, totalA - do
Durable goods establishments
..do *
Nondurable goods establishments
do
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Manufacturers' export sales: O
Durable goods industries:
Unadjusted, total
mil. $„
Seasonallv adi total
do

1.48

1.44

1.46

1.47

1.45

1.44

1.41

182,393 183,860 185,715 187, 689 189,557 '191,167 192,851
117,511 118,725 .19,848 121,471 .22,688 '123,830 125, 374
64,882 65,135 65,867 66,218 66,869 '67,337 67,477
87,642
41,369
46,273

89,097
41,521
47,576

89,963
41,881
48,082

91,063
42,300
48,763

91,543
42,036
49,507

70,361
45,684
24,677

72,882
46,838
26,044

74,867
47,673
27,194

75,474
48,363
27,111

75,820 '75,664 75, 538
48,810 '49,577 49, 630
27,010 '26,087 25, 908

1.47

1.43

1.43

1.40

1.41

1.41

1.43

1.41

1.52
1.84
.60
.77

1.49
1.80
.58
.76

1.52
1.86
.60
.78

1.52
1.85
.60
.78

1.55
'1.90
.61
.81

1.55
1.82
.59
.78

92,470 93, 680
42, 359 42,640
50, 111 51, 040

1.66
2.07
.69
85

1.58
1.93
.65
.78

1.59
1.94
.66
.78

1.59
1.93
.66
.78

1.57
1.90
.65
.76

1.57
1.91
.64
.77

1.52
1.86
.62
.75

1.58
1.94
.64
.80

1.53
1.86
.61
.77

.52

.49

.50

.49

.49

.50

.48

.51

.48

.48

.46

.47

.47

.48

.46

1.16
.45
.18

1.15
.45
.18

1.13
.44
.18

1.14
.44
.18

1.14
.45
.18

'1.16
.45
.18

1.14
.44
.17

1.23
.50
19

1.20
.48
19

1.19
.48
.19

1.21
.48
.19

1.21
.48
.19

1.19
.47
.19

1.15
.45
.18

1.19
.46
.19

.53

.53

.54

.54

.52

.54

.52

.52

.51

.52

.52

.53

1.39
l . 94
«1.12

<1.40
cl.93
cl.13

1.43
' 1.95
« 1.16

'1.43
'1.96
« 1.16

'1.41
' 1.90
'1.15

"1.40
«1.93
cl.13

'1.41
' 1.96
el. 13

'1.46
'2.06
1.16

1.42
'2.02
1.13

1.42
'1.99
1.14

' 1.41
'1.92
1.14

1.42
1.94
1.15

1.42
'1.90
1.17

1.44
'1.94
1.18

1.43
1.87
1.19

1.21
1.78
.79

1.21
1.73
.80

1.22
1.74
.79

1.24
1.78
.80

1.23
1.72
.81

1.21
1.70
.78

1.19
1.68
.77

1.23
1.75
.80

1.22
1.69
.80

1.24
1.71
.83

1.20
1.65
.82

1.18
1.69
.77

1.20
1.70
.78

1.19
'1.66
.77

1.17
1.66

62,792

66,765

4,957 «=5,554
5 444 5,592

5,845
5 622

5,785
5 710

5,569
4 345

4,982
5 648

6,165
6 061

6,298
5,978

6,378
6,240

6,386
6,249

6,673
6,092

5,716
6,406

c
c

.53
e

.54

.53

.75

1,185,716 1,335,072 110,477 117,609 118,946 114,188 111,358 105,437 119,337 125,225 127,014 125,144 131,727 ' 114,380 125,389
Shipments (not seas, adj.), totalt©
do
608,363 699,193 56,253 61,989 63,287 59,834 e 58,211 54,426 62,766 67,473 68,379 67,357 71,839 59,296 '65,991 372,215
Durable goods industries, total 9t
do
4,039 c 3, 581 *4,067
3,706
3,809
3,449
3,072
2,692
3,294
3,198
3,174
2,991
Stone, clay, and glass products
do
30,637
35,274
2,772
9,515
9,957 10,252 10,086 10,609 ' 9,131 '10,110 310,596
8,305
8,373
8,956
8,755
8,484
Primary metals..
__
do
93,005 103,340
8,347
' 4, 678 5,016
5,366
5,102
5,105
5,100
4,167
4,172
4,898
4,321
4,223
4,277
4,478
Blast furnaces, steel mills.
do
46,687
51,519
4,123 ' 3,540 4,050
3,844
3,864
3,334
4,057
3,642
3,412
3,310
3,269
3,498
36.531
40,877
3,189
Nonferrous and other primary met
do
corresponding note on p. S-6.
©Mfrs. shipments, inventories and new orders were revised
'3 Revised.
* Preliminary. i Estimated. 2 Based on data not seasonally adjusted.
back to 1958; revisions prior to Aug. 1977 are available from Bureau of the Census, Wash., D.C.
Advance estimate; total Mfrs. shipments for Aug. 1978 do not reflect revisions for selected
20233. ASee notes " V and " t" on p. S-12 for retail trade and note " O" on p. S-ll for wholecomponents. {See note marked "cf" on p. S-4. §The term "business" here includes
sale trade.
9Includes data for items not shown separately.
OSee corresponding note
only manufacturing and trade; business inventories as shown on p. S-l cover data for all
types of producers, both farm and nonfarm. Unadjusted data for manufacturing are shown
on p. S-4.
« Corrected.
below on pp. S-6 and S-7; those for wholesale and retail trade on pp. S-ll and S-12. fSee




SURVEY

S-6
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

1977

Annual

CURRENT BUSINESS

October 1978
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSt—Continued
Shipments (not seas. adj.)t—Continued
Durable goods industries!—Continued
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total 9©
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products

mil. $__ 77,508
do
105,529
do
73,868
do
141,028
do
95,380
do
25,030

85,255
119,008
85,759
170,739
117,758
28,570

7,217
9,510
7,060
11,837
7,826
2,376

7,633
10,381
7,699
14,825
10,229
2,560

7,814
10,297
7,758
16,233
11,419
2,537

7,137
9,970
7,668
14,890
10,501
2,501

6,815
10,627
7,566
13,754
9,134
2,510

6,357
9,285
7,135
13,140
9,070
2,182

7,457
11,039
7,826
15, 313
10,600
2,359

7,919
11,860
8,175
16,675
11,641
2,661

8,184
11,685
8,119
17,087
11, 920
2,522

8,110
11,259
7,848
16,833
11,780
2,575

8,510 '7,158
8,390
12,453 • 10,446 10,899
8,627 ' 7,271
8,193
17,540 13,185
13,858
12,035
9,082
8,645
2,826 ' 2,390 2,683

do
do
do
do

577,353
180,933
8,786
36,387

635,879
191,887
9,589
40,821

54,224
16,200
832
3,483

55,620
16,560
806
3,667

55,659
16,751
779
3,705

54, 354
16,545
841
3,608

53,147
16,494
889
3,437

51,011
15,338
789
3,216

56,571
17,487
800
3,562

57,752
17,694
876
3,691

58,635
17,539
903
3,912

57,787
17,778
835
3,743

18,204
1,003
3,818

1

do
do
do
do

48,219
104,142
82,347
31,762

52,368
113,891
95,656
36,955

4,501
),465

4,404
9,400
8,295
3,310

4,313
9,175
8,137
3,119

4,282
9,161
8,346
2,980

4,229
9,366
8,005
2,820

4,666
10,309
8,151
3,260

4,775
11,010
8,019
3,400

4,759
11,434
8,207
3,462

4,803
11,841
8,273
3,306

5,066
11,161
8,721
3,491

' 4,592
' 9,605
' 8,679
' 3,001

Shipments (seas, adj.), totalf©
do_.
By industry group:
Durable goods industries, total 9
do_.
Stone, clay, and glass products
do_.
Primary metals
do_.
Blast furnaces, steel mills
do_.
Nonferrous and other primary met._.do_.
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products

do_.
do_.
do_.
do_.
do_.
do_.

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 market category:!
Home goods and apparel©
do
Consumer staples
do
Equipment and defense prod., excl. auto .do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods industries
do
Nondefense
do
Defense
do

3,094

4,413
10,055
8,077
3,239

112,019

112,586

114,091 114,342

58,649
3,061
8,562
4,299
3,331

59,285
2,950
8,637
4,375
3,310

60,316
2,951

7,074
10,155
7,250
14,070
9,778
2,370

55,084 59,895
16,983 17,994
'821
960
' 3, 100 3,784
5,011
10,212
8,904
3,455

117,938 114,322

118,982 121,101

124,537

123,566

124,839 123,106 127,131

4,383
3,354

60,228
2,986
8,794
4,384
3,440

62,130
3,223
9,166
4,639
3,552

59,973
3,136
8,776
4,163
3,677

63,077
3,341
9,591
4,932

64,457
3,396
9,310
4, 683
3,680

66,493
3,657
9,824
4,968
3,834

65,417
3,710
9,628
4,942
3,640

66,293
3,710
9,860
5,062
3,786

65,222
'3,644
9,905
' 5,030

7,240
10,142
7,243
14,503
9,923
2,402

7,406
10,280
7,371
14,896
10,225
2,406

7,296
10,390
7,502
14,527
10,052
2,431

7,419
10,670
7,640
14,906
10,334
2,485

7,003
10,051
7,831
14,420
9,688
2,397

7,582
10,778
7,713
15,176
10,490
2,441

7,848
10,964
7,979
15,676
10,869
2,630

8,013
11,364
8,119
16,288
11, 291
2,569

7,880
11,091
7,929
15,971
11,138
2,602

7,899
11,425
8,167
15,887
10,803
2,674

r 7,539
11,454 11,644
' 8,071 8,412
15,510 16,324
10,670 11,224
' 2,579 2,681

53,370
16,113
790
3,442
4,364
9,450
8,037
3,065

53,301
15,822
801
3,440
4,282
9,618
8,041
3,152

53,775
16,094
781
3,486
4,303
3,163

54,114
16,326
821
3,513
4,345
9,626
8,160
3,197

55,808
16,844
884
3,600
4,558
10,104
8,299
3,270

54,349
16,100
836
3,535
4,424
10,223
8,080
3,086

55,905 '56,644
17,343 17,747
840
898
3, 583
3,486
4,593
4,719
10,093 10,277
7,953
8,158
3,219
3,226

58,044 •58,149
17,775
18,015
928
821
3,976
3,697
4,750
4,796
10,537 • 10,433
8,239
8,443
3,314
3,235

58,546
17,844
960
3,606
4,815
10,719
8,590
3,283

57,884 58.907
17,599 17.908
••824
912
'3,639
3,745
' 4,861 4,862
10,399 10,162
' 8,600 8,840
' 3,258 3,428

68,684
3,778
10,346
5,042
4,232

93,402
227,918
156,878
111,595
95,577
500,346

102,713
244,028
177,735
137,605
109,361
563,630

8,670
20,481
15,000
11,365
9,263
47,240

8,711
20,341
15,254
11,599
9,471
47,210

8,924
20,339
15,427
11,971
9,569
47,861

8,948
20,919
15,384
11,851
9,499
47,741

9,269
21,519
15,672
12,226
9,918
49,334

20,662
15,005
11,440
9,525
48,792

9,147
21,969
15,711
12,261
9,935
50,054

9,190
22,217
16,209
12,690
10.276
50,519

9,611
22,480
16,541
13,160
10,653
52,092

9,395
22,554
16,300
12,917
10,651
51,749

9,532
22,545
16,968
12,563
10,786
52,445

' 9, 291
22,300
16,838
12,340
10,605
51,732

9,775
22,539
17,371
12,964
11,134
53,348

40,624
178,160
151,511
26,649

45,015
205,263
173,723
31,540

3,800
17,363
14,822
2,541

3,806
17,633
14,971
2,662

3,941
17,824
15,216
2,608

4,010
17,860
15,174
2,68P

4,184
18,208
15,525
2,683

3,911
17,974
15,296
2,678

3,951
18,459
15,690
2,769

4,296
18,978
16,095
2,883

4,369
19,536
16,598
2,938

4,133
19,058
16,257
2,801

4,361
19,653
16,782
2,871

r 4,155
19,574
• 16,819
' 2,755

' 4,447
• 20,409
• 17,598
' 2,811

do
do
do

170,430
108,529
61,901

180,118 176,603 177 031 178,220 179,313 180,118 182,745 184,450 185,448
114,862 113,240 113,341 113,338 114,185 114,862 116,835 118,704 119,969
63,690 64,882 65,128 65,256 65,910 65,746 65,479
65,256

Book value (seasonally adjusted), totalf—do
By industry group:
Durable goods industries, total 9
do
Stone, clay, and glass products
do
Primary metals
do
Blast furnaces, steel mills
do
Nonferrous and other primary met.do

169,886

179,714

108,968
3,991
17,699
10,160
6,490

115,424 113,917 114,467 114,448 115,212 115,424 116,278 117,511
4,510
4,416
4,259
4,361
4,219
4,187
4,243
4,259
17,779 18,090 18,082 18,075 17,977 17,779 17,555 17,185
9,089
9,500
9,782
"i, 782 10,316 10,244 10,176 10,062
6,912
6,891
6,826
6,739
6,685
6,662
6,728

Inventories, end of year or month:f
Book value (unadjusted), totalf
Durable goods industries, total
Nondurable goods industries, total

178,082 179,011 179,301 179,840 179,714 180,977 182,393

186,844 188,499
120,963 122,540
65,881 65,959

191, 263
188,846
122,891 123,160 124,602
65,955 66,279 66,661

183,860 185,715 187,689

189,557 '191,167 192,851

118,725
4,530
16,828
8,721
6,893

119,848 121,471
4,570
4,518
16.940 17,060
8,879
8,824
6,974
6,901

122,688
4,569
17,209
8,978
7,000

123,830 125,374
' 4,606 4,699
• 17,335 17,523
' 9,126 9,390
' 6,987 6,925

14,017
24,323
13,912
20,475
7,640
5,265

14,760
26,379
15,433
21,258
7,851
5,727

14,714
25,314
15,031
21,339
7,943
5,596

14,732
25,431
15,173
21,492
8,024
5,642

14,699
25, 647
15,185
21,095
7,877
5,709

14,756
25,852
15,240
21,431
8,138
5,733

14,760
26, 379
15,433
21, 258
7,851
5,727

14,849
26,731
15,539
21, 443
8,128
5,820

15,225
26, 924
15,703
21,867
8,022
5,950

15.573
27,400
16,023
22,127
S,019
6,087

15, 874
27, 757
16,188
22, 264
7,919
6,104

15,992
28,279
16,445
22,743
8,037
6,140

16,130
28, 766
16, 628
22, 784
8,003
6,203

• 16,313
• 29,062 29,413
' 16,758 16,886
• 23,010 23,587
' 7,828 8,277
' 6,199 6,284

do_.
do..
do..
do_.
do_.

36,540
7,222
6,949
4,105
5,625

38,719
7,141
7,345
4,520
6,733

38,901
7,459
6,895
4,471
6,819

39,072
7,373
7,060
4,520
6,843

39,011
7,312
7,177
4,473
6,901

38,793
7,256
7,173
4,435
6,788

38,719
7,141
7,345
4,520
6,733

38,177
6,711
7,329
4,440
6,810

38,535
6,603
7,371
4,528
6,971

38,547
6,393
7,497
4,581
6,782

38, 794
6,371
7,703
4,630
6,730

39,484
6,427
7,897
4,729
6,822

39,667
6,444
8,012
4,819
6,736

39,727 40,393
'6,394
6,587
r 8,155 8,170
r 4,873 4,906
'6,541
6,870

Work in process 9
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment

do_
do_
do
do
do

44,735
6,036
10,610
6,152
12,262

46,864
5,760
11,803
6,835
11,655

45,911
5,989
11,242
6,593
11,703

46,227
5,949
11,365
6,690
11,718

45,996
5,919
11,387
6,750
11,354

46,515
5,845
11,517
6,821
11,636

46,864
5,760
11,803
6,835
11,655

47,785
5,880
12,040
7,000
11,699

5,871
12,111
7,151
12,065

49,491
5,690
12,457
7,259
12,266

50,330
5,801
12,487
7,365
12,674

50,966
5,740
12,723
7,410
13,018

51,684 52,763 53,357
6,012
5,814 r 5,998
13,048 ' 13,102 13,397
7,452 ' 7,456 7,528
13,126 ' 13,698 13,812

Finished goods 9
Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment

do
do
do
do_
do _

27,693
4,441
6,764
3,655
2,588

29,843
4,878
7,231
4,079
2,870

29,107
4,642
7,177
2,817

29,169
4,761
7,005
3,963
<2,931

29,441
4,844
7,083
3,962
2,840

29,906
4,876
7,163
3,985
3,007

29,843
4,878
7,231
4,079
2,870

30,316
4,964
7,362
4,099
2,934

30,280
4,711
7,442
4,024
2,831

30,687
4,745
7,446
4,183
3,079

30,724
4,768
7,567
4,193
2,860

31,021
4,893
7,659
4,306
2,903

31, 337
4,951
7,706
4,357
2,922

' 31,340 31,624
' 4,943 4,924
' 7,805 7,846
' 4,429 4,452
' 2,771 2,905

60,918
15,495
3,446
5,109
5,218
12,965
5,129
3,969

64,290
15,575
3,524
5,294
5,622
14,134
5,992
4,281

64,165
16,129
3,449
5,353
5,639
13,751
5,827
4,296

64,544
16,268
3,531
5,303
5,634
13,949
5,926
4,296

64,853
16,402
3,514
5,303
5,639
14,109
5,927
4,268

64,628
16,001
3,534
5,288
5,658
14,134
6,050
4,226

64,290
15,575
3,524
5,294
5,622
14,134
5,992
4,281

64,699
15,755
3,427
5,432
5,588
14,167
6,016
4,356

64,882
15,690
3,419
5,450
5,632
14,225
5,986
4,419

65,135
15,968
3,405
5,445
5,664
14,426
5,591
4,401

65,867
16,168
3,465
5,394
5,687
14,743
5,576
4,445

66,218
16,436
3,477
5,433
5,798
14,763
5,302
4,498

16, 643
3,501
5,475
5,869
14,861
5,397
4,521

' 67,337 67,477
' 16,525 16,507
' 3,385 3,348
' 5,542 5,544
' 5,939 5,816
' 15,054 15,193
' 5,530 5,515
' 4,521 4,599

24,945
9,557
26,416

25,102
10,116
29,071

25,787
9,919
28,460

25,727
10,011
28,805

25,623
10,178
29,054

25, 297
10.165
29.166

25,102
10,116
29,071

25,190
10,145
29,364

25,332
10,258
29,292

25,730
10,208
29,197

25,742
10, 352
29,773

25,825
10,354
30,039

26,314 r 26,145 26,082
10,277 r 10,348 10,367
30, 278 ' 30,844 31,028

Fabricated metal products
do
Machinery, except electrical
do
Electrical machinery
do_
Transportation equipment
do _
Motor vehicles and parts
do_
Instruments and related products—do
By stage of fabrication :f
Materials and supplies 9 Primary metals
Machinery, except electrical
Electrical machinery
Transportation equipment

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_._

1
Revised
Advance estimate; total mfrs. shipments for Aug. 1978 do not reflect revisions for selected components.
t Revised series. Data revised back to Jan. 1958 to reflect
(1) benchmarking of shipments and inventories data to the 1974, 1975, and 1976 Annual Surveys of Manufactures, (2) recalculation of new orders estimates, and (3) updating of the seasonal factors. A detailed description of this revison and historical data appear in report M3-1.7,




17,631

68,783
10,190

16,917

U,255
21,446
18,431
i 3,015

"Manufacturers' Shipments, Inventories, and Orders: 1958-1977," available for $2.45 from the
Bureau of the Census, Washington, D.C. 20233. Data back to Jan. 1958 for mfg. and trade sales
and inventories and inventory-sales ratios appear on p. 34ff. of the May 1978 Survey.
©See
e
corresponding note on p. S-5.
9 Includes data for items not shown separately.
Corrected.

October 1978

OF (JUKIttKN'J : ButSINE JSJS

SUJR
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

Annual

S-7
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERSt—Continued
Inventories, end of year or monthf—Continued
Book value (seasonally adjusted)—Continued
By market category :f
Home goods and apparel
mil. $__
Consumer staples
do
Equip, and defense prod., excl. auto
do
Automotive equipment
do
Construction materials and supplies
do
Other materials and supplies
do
Supplementary series:
Household durables
do
Capital goods industries
do
Nondefense
do
Defense
do
New orders, net (not seas, adj.), total fA
Durable goods industries, total
Nondurable goods industries, total A

do
do
do

New orders, net (seas, adj.), total fA
do
By industry group:
Durable goods industries, totalf
do
Primary metals
do
Blast'furnaces, steel mills
do
Nonferrous and other primary met.—do
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts

15,340 15,358
23,942 24,131
42,836 41, 376
10,108 10,173
14,935 14,630
72,553 72,414

15,260 15,264 15,193 15,340
24,626 24,503 24,393 23,942
41,729 41,783 42,155 42,836
10,257 10,114 10,308 10,108
14,777 14,937 15,046 14,935
72,362 72,700 72,745 72,553

15,848
23,902
43,869
10,276
15,720
72,778

15,947
24,157
44, 645
10,256
15,853
73,002

16,066
24,621
45,228
10,129
16,059
73,612

16,183
24,928
46,155
10,297
16,091
73,035

16, 276
25,407
46,761
10, 265
16, 293
74,555

16,707
25,366
47,339
• 10,106
16,299
75,350

16,828
25,385
47,992
10,555
16,392
75,699

7,260
43,056
36, 720
6,336

7,771
46,677
40,294
6,383

7,814 7,808 7, 758 7.771 8,026 8,053
45,544 45,546 45, 926 46,677 46,966 47,824
39, 231 39,389 39,663 40,294 40,512 41,188
6,157
6,263 6,383 6,454 6,636
6,313

8,116
48,772
42,151
6,621

8,188
49,518
42,780
6,738

8,301
50,512
43,610
6,863

8,307 ' 8,574
51,399 52,112
44,583 •45,227
6,816 r 6,885

8,623
52,856
45,949
6,907

7,812
45,201
38,851
6,350

2

l,189,604 2l,354,099 112,615 113,680 117,331 117,024 122,128 117.899 122,544 125,801 128,175 128,450 127,580 123,279 130,056
70,033
10,308
5,331
3,957

70,045
10,754
5,845
3,811

68,840 65,187 71,582 i 71,522
10,428 10,095 10,876 111,363
5,451 ' 5,151 5,213
3,954 ' 3,850 4,462

7,826
7,635 7, 447 7,597 8,019
10, 797 11,210 10,563 11,482 11,573
8,059 8,000 8,434 8,460 8,319
15,247 17, 569 r14, 749 16, 392 18,085
3,283 5,240
3,675 ' 4,162 4,221

8,778
11,536
8,626
17, 721
4,943

8,023
11,872
8,352
18,019
4,832

7,736
11,477
8,239
17, 953
5,677

76,997
103,901
75,884
143,606
32,279

85,609
122,489
88,241
178,617
42,420

7,033
10,469
7,439
13,721
2,841

7,124 7,509
10,576 10,762
7,381 7,564
14, 518 17,117
3,328 4,519

577,641
124,527
453,114

636,562
139,673
496,889

53,346
11,782
41,564

53,316 53,775 54,203
11,730 11,770 11,932
41,586 42, 005 42,271

do
do
do
do
do
do

93,444
227,963
158,051
112,788
94,415
502,943

103,442 8,953 8,736 9,146
244,051 20,503 20,298 20,339
186,752 14,538 15,436 17,555
138,805 11,494 11,536 12,101
110,261 9,342 9,406 9,634
570, 788 47,785 48,268 48,556

do
do
do
do

45, 733 4,070
40,462
179,736 216,849 17,035
150,011 182,413 14,527
29, 725 34,436
2,508

Unfilled orders, end of year or month (unadjusted),
totalf
mil. $ - 174,001
166,137
Durable goods industries, total
do
7,864
Nondur. goods ind. with unfilled orders©—do
Unfilled orders, end of year or month (seasonally
adjusted) totalf
mil. $_. 174,553
By industry group:
Durable goods industries, total 9
do
166,440
Primary metals
__do
15,853
Blast furnaces, steel mills
do
9,962
Nonferrous and other primary met.—do
4,850

3,820
18,234
16,124
2,110

4,138
20,556
16,097
4,459

66,165
9,347
4,609
3,746

63,335
9,857
4,938
3,940

66,681
9,946
5,302
3,611

r 7, 524
•
11,669
r
7, 902
• 15,226
r 3, 298

8,269
11,671
8,602
18,576
5,475

55,963
12,289
43,674

54,564
12,002
42,562

55,863
12,047
43,816

56,785
12,412
44, 373

58,142
12,880
45,262

58,405
12,971
45,434

58,740 • 58,092 59, 021
12,934 ' 13,070 13,177
45,806 • 45,022 45, 844

8,908
20,908
17,070
11,736
9,885
48,517

9,325
21,494
17,785
12,524
10,008
50,992

9,007
20,680
16,839
11,475
10,011
50,088

9,222
21,984
17,822
12,521
10,417
50,673

9,160
22,222
18,802
12,895
10,397
52,325

9,735
22,534
18,423
13,171
11,218
53,094

9,422
22,549
19,295
13,018
10,600
53,556

9,398 ' 9,177
22,526 22,350
18,317 16,204
12,612 12,209
10, 690 10,437
54, 037 52,902

3,998
19,511
16,090
3,421

4,253
21,384
16,988
4,396

3,994
19,382
16,511
2,871

20,538
17,882
2,656

4,262
21,992
17,507
4,485

4,513
21,440
17,409
4,031

4,150
22,202
18,124
4,078

4,263
21,592
18,155
3,437

' 4, 039
19,355
17,074
>• 2, 281

17,651

9,859
22, 522
19, 213
13, 030
10, 930
54, 502
' 4, 563 1 4,409
22,701 22,701
19,344 ' 19,492
' 3, 357 3,244

193,029 183,813 183,975 187,464 189,398 193,029 197,123 200,807 205,248 209,132 212,654 215,098 '217,738 221, 285
184,482 175,296 175,551 178,963 180,896 184,482 188,227 191,804 196,039 199,549 202,915 205,310 207, 714 ••211,339
9,003
9,739
8,547 8,517 8,424 8,501 8,502 8,547
9,209 9,583
9,788 r 10,024 9,946
193,659 182,453 183,547 186,787 189,469 193,659 197,235 200,798 205,500 209,133 214,010 216,754 '216,922 219, 848
184,834 173,887 174,966 178,206 180, 799 184,834 188,194 191,798 196,359 199, 895 204,516 207,067 '207,026 '209,922 1213,071
18,513 17,501 17,852 17,858 18,332 18,513 19, 594 19,948 20,866 21, 349 22,476 23,043 23,232 r 23,760 i 24,924
11,852 11,234 11,524 11,500 11,882 11,852 12,627 12,996 13, 689 14,052 14,955 15,344 '15,464 15, 636
5,350" 5,025 5,073 5,095 5,156 5,350 5,613
5,526
5,990
5,696
6,158 r 6,184 6,414
5,819

Fabricated metal products
do
22,890 23,203
Machinery, except electrical
do
43,707 47,221
Electrical machinery
do
23,320 25,833
Transportation equipment
do_. _. 52, 724 60,527
Aircraft, missiles, and parts
do
34,502 41,275
8,825
Nondur. goods ind. with unfilled orders© .do
8,113
By market category:!
4,091
Home goods, apparel, consumer staples, .do
3,285
Equip, and defense prod., incl. auto
do
100, 355 110,488
Construction materials and supplies
do
18, 765
17,881
Other materials and supplies
do
53, 032 60, 315
Supplementary series:
Household durables
do
3,389
2,617
Capital goods industries
do
109,386 120,899
Nondefense
do
77,284 85,893
Defense
do
32,102 35,006

22,849
45,358
24,585
54,908
37,078
8,566

22,733
45, 792
24,723
54,923
37,278
8,581

22,836
46,274
24,916
57,144
38,650
8,581

23,175 23, 203
46,681 47,221
25,473 25,833
57,864 60, 527
39,004 41, 275
8,670 8,825

23,797
47,732
26,436
60,856
41,598
9,041

24,233 24,213
48,434 49,044
27,186 27,526
62,072 64,480
42,502 43,396
9,000 9,141

4,309
3,907 3,889 4,111 4,060 4,091
4,219
104,129 104, 248 106,506 108,077 110,488 112,156 114,527
18, 289 18,224 18, 289 18, 675 18,765 19,249 19,731
56,128 57,186 57, 881 58,657 60,315 61,611 62, 231
3,135 3,332 3,320 3,389 3,472 3,520
3,121
112, 739 113,340 116,072 117, 723 120,899 122,307 124,388
81,480 82,633 83, 514 84,430 85,893 87,107 89,301
31,259 30, 707 32,558 32,293 35, 006 35,200 35, 087

BUSINESS INCORPORATIONS©
New incorporations (50 States and Dist. Col.):
Unadjusted
number.. 375,766
39,169 36,110 36,723
Seasonally adjusted
do.
39, 525 37,812 38,943
INDUSTRIAL AND COMMERCIAL
FAILURES©
560
Failures, total..
number.. 9,628
7,919
546
687
67
Commercial service.
do.
1,041
85
95
1,331
Construction
do.
1,463
102
98
129
1,770
1,122
Manufacturing and mining. _
do.
92
65
85
1,360
3,406
Retail tradedo.
219
226
293
4,139
887
Wholesale trade
do
80
72
85
1,028
Liabilities (current), total
thous. $.. 3,011,271 3,095,317 338,252 96,994 115,692
Commercial service
do.
490,140 358,686 21,671 10, 299 15,682
Construction
do
428,737 420,220 26,658 16,375 37,264
Manufacturing and mining
do
1,121,722 1,221,122 91,859 28,656 20,703
Betail trade....
do.
556,912 482,560 00,813 20,701 23, 622
Wholesale tradedo
413,760 612,729 137,251 20,963 18,421
Failure annual rate (seasonally adjusted)
27.0
24.2
29.7
No. per 10,000 concerns.. 2 34.8 2 28.4
r
Revised.
* Preliminary.
> Advance estimate: totals for mfrs.
new and unfilled
2
orders for Aug. 1978 do not reflect revisions for selected components.
Based on unadjusted
data.
f See corresponding note on p. S-6.
9 Includes data for items not shown separately.
ASee note marked "©" on p. S-5. ©Includes textile mill prod., leather and
prod., paper and allied prod., and print, and pub. ind.; unfilled orders for other nondurable
goods are zero.




69,016
10,228
5,376
3,850

717,537 59, 269 60, 364 63,556 62,821
105,968 8,918 8,988 8,696 9,268
53,394 4,452 4,665 4,359 4,766
41, 360 3,503 3,358 3,376 3,501

do_.
do _.
do_.
do_.
do_.

15,738
24,092
42,971
10,377
15,203
72,596

128,665 134,171 117,023 128,929
1,189,604 1,354,099 111,623 117,770 122,435 116,122 114,989 109,532 123,022 129,668
611,963 717,537 57,598 62,243 66, 699 61,767 61, 797 58,172 66,343 71,712 71,890 70,723 74, 237 61, 702 ' 69,713 73,849
57,942 59,934 55,321 59,814
57,956
53,192
56,679
636,562
55,736
55,527
54,355
51,360
59,009
54,
025
577,641

611,963
94,226
47,396
37,377

Nondurable goods industries, total A
do
Industries with unfilled orders©
do
Industries without unfilled orders HA. -do
By market category:!
Home goods and apparel A
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense

14,783
22,933
39,574
9,718
14, 270

34,586
38,344

38,008
39,674

36,547

35,249
39,253

24,976
49,219
28,031
65, 915
44,998
9,238

25,118
50,001
28,455
67,963
46,608
9,494

24,956
50,055
28,529
70,029
48, 756
9,687

•24,941
•50,268
•28,358
69,745
'48,751
r
9,896

24,972
50,296
28,547
71,938
50,659
10,009

72,667

4,285
4,329 ' 4,266 4,332
4,457 4,483
117,326 119,221 122,306 123,708 122,938 124,850
19,852 20,417 20,366 20,269 •20,102 19,897
64,037 65,038 66,855 68,448 •69,616 70,769
3,644
3,486
3,625
3,546 r 3,431 r 3, 546
127,402 129, 310 132,453 134,393 134,172 136,464
90, 712 91, 528 93,395 94,768 95,021 96,767
36, 690 37, 782 39,058 39, 625 '39,151 39,697

43,130
37,602

38,498

41,960
38,320

43,059
39,796

i 3, 700
137,749
i 97,826
i 39,923

39,245
39,403

559
666
583
517
504
594
621
63
79
75
63
78
77
76
106
104
109
69
107
89
132
114
83
87
74
81
96
87
288
246
250
257
200
231
262
79
66
59
71
67
55
64
200,287 168,317 168,308 205,014 324,412 202,990 160,395
18,659 13,986 21,359 70,081 12,319 31,388 14, 872
21,527 10,415
9,764 24,297 16,543 24,490 17,547
65,286 101,789 82,393 46,080 230,159 78,094 77,213
62,418 32,224 40,513 34,854 37,867 35,824 27, 850
32,397 9,903 14,279 29,702 27,524 33,194 22,913
27.0

22.5

21.6

24.0

24.6

24.1

23.4

If For these industries (food and kindred prod., tobacco mfs., apparel and other textile
prod., petroleum and coal prod., chem. and allied prod., rubber and plastics prod.) sales are
considered equal to new orders. O Compiled by Dun <t Bradstreet, Inc. (failures data
for 48 States and Dist. of Col.; Hawaii included beginning July 1975; Alaska, beginning
Sept. 1976).

SURVEY OF CURRENT BUSINESS

S-8
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

October 1978
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

501
445
533
433
325
328
460
1,006
560
624
700

521
468
696
437
337
344
441
1,017
576
618
730
245

538
478
604
454
351
340
503
1,018
597
612
779
237

543
486
588
463
342
337
583
1,017
603
612
789
238

537
478
531
478
324
335
586
1,030
597
618
763
258

••525

'455
'449
••478
'307
'337
'554
1,078
'598
'642
765
243

535
454
470
465
296
332
620
1,144
619
661
796
247

COMMODITY PRICES
P R I C E S R E C E I V E D AND PAID BY
FARMERS*
Prices received, all farm products
1910-14' =100__
Crops 9
do
Commercial vegetables
do
Cotton
do___.
Feed grains and hay
do
Food grains
do
Fruit
do___.
Tobacco
do
Livestock and products 9
do_.
Dairy products
do..
Meat animals
do..
Poultry and eggs
do_.
Prices paid:
All commodities and services
___do
Family living items
do
Production items
do
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14=100..
Parity ratio §
do

436
388
425
492
260
259
381

452

465

411
450
411
299
310
414

423
530
404
306
314
424

1,015

1,024

495
624
582
223

509
624
613
218

482
427
518
425
313
320
441
1,020
539
624
661
235

593
585
576

595
588
578

605
590
590

611
593
598

621
598
611

630
602
621

638
608
630

641
613
632

643
620
632

643
624

650
628
638

685

688

690

65

65

66

710
65

717
67

727
69

735
71

744
72

747
73

748
72

749
70

756
71

184.0

184.5

185.4

186.1

187.1

188.4

189.7

191.4

193.3

195.3

196.7

197.7

199.1

183.3

184.0

184.5

185.4

180.8
179.8
182.0
176.3
180.8
167.3
164.3
166.0
196.3
203.8
195.2
193.2
188.3
193.2
154.4
207.4
204.5
284.1
217.4
168.4
154.8
178.8
178.2
141.6
186.4
183.5
204.9

181.2
180.9
182.6
176.6
181.0
168.4
164.5
166.7
197.7
205.3
194.5
192.2
189.5
194.7
155.3
209.1
205.5
285.1
218.0
169.1
156.2
178.4
177.8
141.1
182.5
184.1
206.3

181.7
181.6
183.1
177.0
181.4
169.2
165.0
167.4
198.5
206.2
194.4
191.7
190.4
195.6
156.1
210.0
206.8
287.2
219.3
169.6
157.2
178.6
177.9
145.7
178.0
184.4
207.2

182.5
182.5
184.1
177.9
182.4
170.1
165.5
168.1
199.5
207.2
195.6
193.0
191.4
196.9
157.0
211.5
207.4
289.9
219.5
170.2
158.5
178.7
178.0
148.2
175.0
184.7
208.1

199.3
197.8
196.7
195.3
193.3
187.2
189.8
191.5
188.4
194.5
193.5
192.7
191.8
189.9
183.8
186.3
188.1
183.0
185.0
195.1
193.3
192.0
190.6
189.0
187.4
185.9
184.7
183.1
183.8
197.9
196.3
195.3
193.9
191.9
190.1
188.3
186.9
184.7
185.8
190.5
189.3
188.6
187.5
185.5
179.2
183.5
178.3
180.2
181.6
195.4
194.4
193.6
192.7
190.7
188.8
185.1
186.8
182.9
183.9
177.1
175.4
174.1
173.7
172.8
171.8
169.6
170.7
170.3
169.7
177.2
175.9
175.3
173.9
172.0
169.9
167.2
168.3
165.9
166.6
177.8
176.3
175.4
174.4
173.0
171.3
168.8
170.0
168.4
168.6
215.6
213.4
211.7
209.9
208.0
206.5
203.5
204.9
200.5
202.0
224.6
222.2
220.4
218.3
216.2
214.6
211.4
213.0
208.2
209.8
215.6
215.4
215.0
213.8
210.3
204.2
199.2
207.5
202.0
196.3
214.1
214.5
214.7
213.9
209.7
202.5
206.5
200.1
193.7
197.0
207.5
205.2
203.8
202.0
199.9
196.7
198.3
193.8
195.0
192.4
213.3 a 216.2
211.3
208.9
206.6
202.9
204.7
201.3
198.2
200.0
163.6 2 164. 2 2 165.1 166.4
157.9 2158.8 2159.7 2 160. 5 2 161.5 2162.7 2 225.3
234.2
230.6
228.3
222.5
220.4
218.3
216.4
213.0
215.0
217.5 43 218.0 34 218.1 34 218.8
207.6 34 208.5 34 210. 6 34 212.6 34 213.9 43 215.5 34 295.1
295. 7
294.2
294.
5
295. 6
297. 2
296. 6
296. 9
291.9
295.2
237.9
236.9
237.2
236.5
232.5
229.2
226.6
223.3
218.9
219.7
180.5
178.9
178.1
177.6
176.0
175.0
173.6
172.1
171.0
171.3
161.9
158.0
159.6
159.9
159.8
156.5
158.4
155.7
154.5
158.2
188.7
187.2
188.1
185.5
183.2
179.9
181.1
179.4
178.8
179.0
188.3
186.8
187.7
185.0
182.6
179.1
180.3
178.6
178.0
178.2
153.5
153.9
153.8
153.5
152.5
151.1
151.2
151.2
150.5
150.9
195.9
195.9
196.7
191.5
184.6
172.3
177.3
170.0
170.7
169.8
188.2
187.7
187.6
187.2
187.4
187.2
187.3
186.8
185.7
186.6
222.6
219.4
221.4
217.9
216.9
214.5
215.7
213.3
209.3
211.2

0.4
175.7
165.7
194.3
192.0
205.8
288.1
155.2
177.2
176.5
143.5
196.8

0.4

0.3

0.4

176.2
166.2
194.7
192.3
206.7
289.5
155.3
177.4
176.8
144.1
197.9

176.7
166.8
195.0
192.5
208.1
289.5
155.7
177.5
176.9
145.0
198.7

177.5
167.6
196.0
193.5
207.6
289. 5
156.4
178.3
177.8
146.9
199.5

0.9
'0.9
0.8
0.6
0.4
0.8
185.6
182.3
184.0
180.8
178.3
179.9
172.8
170.9
171.8
169.9
168.4
169.5
211.2
204.3
208.1
201.6
196.7
199.2
211.1
202.5
207.3
199.5
194.2
197.0
207.1 3 207. 7 3 209.4 3 211.5 3 213.2 3 215.5
289.6 4 290.8 4 291.1 4 294.0 4 295. 7 4 296.5
156.8
159.7
157.2
157.2
158.8
155. 7
183.2
181.7
182.0
179.2
181.4
180.3
182.5
181.0
181.3
180.
7
178. 7
179.7
150.5
152.8
151.0
150.3
148.4
149.3
208.7
204.7
200.3
206.6
203.0
201.5

205.9
208.8
203.8
197.0

212.7
215.1
210.9
198.2

218.0
215.4
219.7
200.1

220.3
220.8
219.9
• 202.1

210.5
204.8
184.5
181.8
190.8

215.6
205.3
185.5
182.9
191.5

219.6
207.2
187.0
184.4
193.0

225.0
208.9
188.5
186.2
193.7

192.9
199.4
193.7
193. 2
193.5

193.8
200.8
194.5
194.0
194.4

196.1
202.3
196.2
196.1
195.6

198.0
204.5
197.8
197.9
197.1

434

442

383
435
499
255
263
395

445
414
512
428
290
305
434
993

486
610
569
225

400
459
448
264
283
496
983
485
618
570
214

478
624
552
217

589
582
572

591
584
574

685
64

685
63

181.5

183.3

181.5
179.1
178.4
180.3
174.7
178.9
166.5
163.2
165.1
194.3
201.6
192.2
190.2
186.5
191.1
153.5
204.9
202.2
283.4
213.4
167. 5
154.2
177.2
176.6
142.9
182.8
182.4
202.4

464
443
456
504
387
355
294
906
485
591
569
233

456
431
496
509
316
275
358
972
481
594
564
228

591
577
224

564
563
559

591
573
580

579
575

650
71

687

1,075

C O N S U M E R PRICES1
(U.S. Department of Labor Indexes)

Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND CLERICAL WORKERS, REVISED (CPI-W)T
1967=100-. 170.5
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)1
1967=100.. 170.5
Special group indexes:
168.3
All items less shelter
do
167.5
All items less food
do
169.7
All items less medical care
do
165.2
Commodities
do
169.2
Nondurables
do
158.3
Nondurables less food
do
154.3
Durables
do
156.6
Commodities less food
.do
180.4
Services
do
186.8
Services less rent..
_
do
180.8
Food 9—
do179.5
Food at home
_
do.
Housing
_
do... 1 174.6
179.0
Shelter 9
do...
144.7
Rent
do...
191.7
Homeownership
do..
182.7
Fuel and utilities9
...do...
250.8
Fuel oil and coal
_
do...
Gas (piped) and electricity
.do... 1 189.0
160.1
Household furnishings and operation
do._.
147.6
Apparel and upkeep
do...
165.5
Transportation
do
164.6
Private
do...
135.7
Newcars
do...
167.9
Used cars
do
174.2
Public...
do...
184.7
Medical care
do__.
Seasonally Adjusted A
All items, percent change from previous month
Commodities
1967=100
Commodities less food
do...
Food
do...
Food at home
11-ll.lll.lldo
Fuels and utilities
do.
Fuel oil and coal
do..
Apparel and upkeep
do_.
Transportation
__ do
Private
do
New cars
111.1.dol.
Services
do_.
PRODUCER PRICESd"

186.1

0.8
0.5
0.6
0.9
190.1
187.9
188.7
187.2
177.2
174.9
175.7
173.9
215.6
213.9
214.5
214.0
214.1
213.2
213.3
214.0
3
3
218.8
3
219. 9
3 219.4
217.8 4
4
297. 5 4 298.4 4 300.2
297.8
159.3
161.1
160.1
160.3
185.6
187.8
186.6
184.4
18a. 1
187.5
186.1
183.8
155.3
156.8
155.8
154.1
212.2
156.8
214.0
210.5

(U.S. Department of Labor Indexes)

Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities
1967=100.. 5 201.0 *209 6 200.8 201.3 203.3
5 201. 6 s 2 08 2
198.0
9Foodstuffs
do
198.9
201.2
202.7
13 Raw industrials
do.... 5 200.6 5]
202.9
204.7
All commodities
do .
183.0
194.6
195.3
194.2
196.3
By stage of processing:
Crude materials for further processing do
205.1
214.4
207.3
207.8
208.0
Intermediate materials, supplies, etc
do..
189.3
201.7
203.4
204.2
204.4
Finished goods O
do____
170.3
180.6
181.3
181.8
183.9
Consumer finished goods
_ _do
169.0
178.9
179.7
180.2
181.4
Capital equipment
do.__. 173.2
184.5
184.7
185.6
189.9
By durability of product:
Durable goods
do.... 176.0
188.1
189.5
190.8
192.6
Nondurable goods
do._
188.0
198.4
197.8
198.0
198.4
Total manufactures
do
179.0
190.1
191.1
191.9
193.1
Durable manufactures
do
175.6
188.1
189.5
190.9
192.8
182.1
Nondurable manufactures
do
191.8
192.3
192.4
192.8
rRevised.
^Preliminary,
i Includes TV and sound equipment and repairs formerly
in health and recreation."
2 Residential. 3 includes additional items not previously
priced.
< Includes bottled gas.
« Computed by BEA. JData revised back to 1965
to reflect new base weights; comparable data for earlier periods will be shown later.
9 Includes data for items not shown separately.
§ Ratio of prices received to prices paid
(parity index). IData through December 1977 are for urban wage earners and clerical




203.8

225.0
237.9
216.5
206.4

228.1
243.7
217.8
207.9

229.6
240.8
221.1
209.4

228.9
234.9
224.7
210.6

236.2
241.4
232.6
210.4

243.0
248.7
239.1
212.3

231.2
210.7
189.0
186.7
194.5

239.0
212.5
191.5
189.7
195.6

• 241.2
• 213.9
' 193.1
'191.4
196.9

245.3
214.8
194.4
192.8
198.2

245.4
215.8
195.9
194.5
199.1

240.2
217.2
195.3
193.4
199.8

244.9
218.7
196.9
195.1
201.0

199.1
206.6
198.9
198.9
198.1

201.4
209.5
200.9
201.1
199.9

202.6
211.3
202.4
202.4
201.7

203.8
213.0
203.7
203.6
203.1

205.3
213.9
204.8
205.0
203.9

207.1
212.1
205.6
206.9
203.4

208.0
214.7
207.1
207.8
205.6

226.3
236.0
219.8

workers; beginning January 1978, there are two indexes, all urban wage earners and clerical
workers, revised (CPI-W), and all urban consumers (CPI-U). These indexes reflect improved
pricing methods, updated expenditure patterns, etc.; complete details are available from
Bureau of Labor Statistics, Washington, D.C. 20212.
ABeginning Jan. 1978, CPI-U.
cf For actual producer prices of individual commodities see respective commodities.
O Goods to users, incl. raw foods and fuels.

SURVEY OF CURRENT BUSINESS

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

S-9
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

COMMODITY PRICES—Continued
PRODUCER PRICEScf-Continued
(U.S. Department of Labor Indexes)—Continued
All commodities—Continued
Farm prod., processed foods and feeds.1967=100.
Farm products 9
do...
Fruits and vegetables, fresh and dried - d o . . .
Grains
_
do...
Live poultry
do...
Livestock
do...

J83.1
191.0
178.4
205.9
166.9
173.3

188.8
192.5
192.2
165.0
175.4
173.0

184.3
181.8
176.5
140.5
176.1
175.2

184.4
182.0
182.9
144.2
181.7
172.9

184.3
182.0
188.0
144.7
170.5
177.5

187.0
185.6
193.5
164.6
162.7
171.6

189.4
188.3
169.5
167.3
157.8
182.7

192.2
192.2
196.6
169.1
170.2
188.2

196.8
198.9
204.2
170.8
188.8
202.1

200.3
205.3
201.6
178.9
187.9
208.3

205.5
213.6
227.3
198.7
196.0
218.1

207.7
215.7
220.3
189.2
194.5
230.3

210.4
219.5
230.2
188.1
221.6
236.2

210.5
219.9
252.3
183.8
246.5
226.8

205.3
210.3
215.2
178.9
204.8
216.6

209.5
215.3
209.8
176.9
211.1
226.8

178.0
173.5
172.1
168.5
170.2
181.6

186.1
201.0
173.4
173.4
187.4
182.0

184.9
205.5
172.1
175.3
190.4
182.7

184.4
204.8
174.6
175.6
191.1
182.8

184.3
205.0
175.5
175.9
190.4
184.7

186.9
201.7
179.9
176.9
193.1
183.4

189.3
201.3
182.1
178.2
194.4
190.8

191.5
202.1
184.3
178.0
194.3
193.6

194.9
201.3
185.0
178.7
194.5
205.4

196.8
200.0
185.7
180.3
195.6
204.6

200.2
200.1
188.6
184.5
196.4
211.7

202.5
199.5
188.2
184.5
197.3
220.4

204.6
200.0
189.0
185.4
198.7
226.2

204.5
198.8
191.9
186.1
200.3
224.4

201.8
197.2
191.7
190.8
203.3
215.9

205.5
197.8
190.9
192.9
204.9
224.4

182.4

195.1

196.9

197.8

199.1

199.3

200.0

201.6

202.9

204.1

206.0

207.3

208.5

209.9

211.2

212.4

.do.
do.
do.
do.
do.
do.

187.2
188.4
219.3
134.0
249.9
174.4

192.8
187.8
223.9
140.5
279.0
182.4

196.2
190.8
224.1
145.3
294.6
189.5

198.6
203.3
223.6
146.6
315.2
192.6
319.7
432.4
252.8
428.9
314.4

199.8
201.9
225.0
148.5
335.6
192.6

199.4
201.9
226.2
148.6
312.9
192.6

200.2
202.4
226.3
149.6
338.5
192.6

265.6
368.7
207.6
286.8
276.6

197.0
192.1
224.4
146.2
301.3
191.6
317.3
426.6
250.8
428.7
311.6

199.1
202.4
224.6
147.8
313.2
192.6

do..
do..
do..
do.
do.

195.2
189.1
224.2
145.0
281.5
189.3
312.9
404.9
242.6
417.7
r 312. 9

322.8
434.6
256.5
428.1
318.0

324.4
437.1
255.0
430.7
320.9

324.9
442.4
253.8
425.5
323.1

327.0
442.7
252.7
431.5
326.1

Furniture and household durables 9
Appliances, household
Furniture, household
Home electronic equipment

do.
do.
do.
..do.

159.2
152. 3
172.3
87.4

160.8
153.1
174.0
90.0

160.7
153.7
175.6
87.3

161.3
153.7
176.1

Hides, skins, and leather products 9
Footwear
Hides and skins
Leather
Lumber and wood products...
Lumber

158.4
152.1
170.6
87.4
193.8
181.4
321.7
217.3
273.4
316.5
193.7
209.2
229.8
163.3
213.5
224.4
173.7
251.7
203.2
219.1
194.2
209.4
228.2
193.0
204.3
173.7
178.7
158.4
110.2
101.0
117.1
103.2
150.8
177.0
172.1
174.7

195.5
181.6
346. 5
217.4
278.5
320.8

197.6
182.2
360.4
224.5
277.5
319.1

205.4
184.5
400.8
251.9
281.4
326.3

211.0
186.5
435.3
269.4
282.8
332.0

195.1
210.3
230.7
164.5
215.3

196.4
211.7
232.4
165.5
216.5

197.5
213.4
234.2
166.0
218.0

198.7
217.0
236.5
166.5
220.2

225.2
173.6
252.1
205.0

226.9
174.1
253.6
206.0

231.0
175.5
258.4
211.0

231.5
175.8
258.4
211.3

221.7
195.5
211.4
230.2
193.3
205.4
174.4
179.3

224.5
196.6
214.2
234.0
195.6
206.9
174.7
179.8

226.9
197.7
219.5
235.9
196.0
208.1
175.4
179.9

227.8
201.8
221.0
236.0
199.1
210.4
176.6
180.3

158.9
109.1
101.3
117.8
102.9
151. 7
178.7

159.7
109.1
101.9
119.1
103.1
152.8
179.4

160.3
109.3
102.4
120.8
103.2
153.3
179.2

161.1
109.3
103.3
124.1
104.0
153.2
180.3

172.5
175.2

172.7
175.3

173.0
175.6

173.5
175.8

Foods and feeds, processed 9 . . .
Beverages and beverage materials
Cereal and bakery products
Dairy products
Fruits and vegetables, processed
Meats, poultry, and
fish
Industrial commodities

do
do
__ .do
.do
do
.do
do.

193.2
189.9
224.1
141.4
246.9
185.1
309.9
395.1
242.8
405.2
313.2

193.7
190.2
224.9
141.8
260.9
185.1

193.9
188.2
225.1
142.3
265.4
186.7

194.1
187.1
225.3
142.9
266.1
185.9

194.1
187.5
224.3
144.1
263.2
186.1

302.2
389.4
232.9
387.8
308.2

193.6
188.6
224.5
141.2
268.9
183.9
309.5
394.2
244.6
400.9
313.1

310.7
398.5
242.1
406.2
314.2

310.5
400.6
237.6
414.0
313.6

312.0
402.0
237.0
422.3
313.9

312.8
403.8
239.5
420.4
314.3

145.6
139.2
153.6
91.3

151.5
145.1
162.2
87.7

152.6
146.6
163.2
86.8

152.7
147.5^
163.3
86.4

153.8
148.0
165.1
86.6

154.2
148.0
166.4
86.5

156.5 r 156. 7
149.5 r 149. 8
168.2
168.8
89.0 '88.7

157.4
150.9
168.9
88.5

do..
do..
do..
do.
...do.
..do.

167.8
158.9
258.4
188.1
205.6
233.0

179.3
168.7
286.7
201.0
236.3
276.5

180.2
169.9
200.3
242.7
286.4

179.6
170.0
27'4.4
200.5
252.9
301.7

153.0
147.8
164.1
86.2
179.2
171.2
266.6
196.4
247.8
292.4

180.0
171.6
273.2
197.0
243.3
284.8

181.5
171.6
291.9
200.4
249.2
291.0

185.8 r 187. 2
173.4 * 175. 7
300.4
298.2
211.9
210.8
263.7
256.4
300.4
308.5

Machinery and equipment 9-do.
Agricultural machinery and equip
do.
Construction machinery and equip
do.
Electrical machinery and equip
do.
Metalworking machinery and equip..-do.

171.0
183.0
198.9
146.7
182.7

181.7
197.9
213.5
154.1
198.5

182.8
198.6
215. 3
154.6
200.8

183.8
200.4
214.7
155.7
202.3

185.4
201.4
217.2
157.3
203.5

186.8
205. 3
220.8
157.9
204.9

187.5
206.3
223.0
158.0
206.0

189.3
206.7
223.5
160.0
208.3

••209.5

188.1
176.2
296.0
215.3
266.0
312.5
191.4
207.6
224.9
161.7
210. 5

158.3
152.1
169.9
88.5
192.2
180.5
320.5
217.4
269.5
316.7
192.4
208.6
227.9
162.4
212.0

Metals and metal products 9
Heating equipment
Iron and steel
Nonferrous metals.

do..
do.
...do.
do.

195.9
158.0
215.9
181.6

209.0
165.5
230.4
195.4

211.7
166.0
233.2
198.5

212.6
166.8
236.0
195.1

211.8
168.0
234.4
193.6

212.0
168.3
233.5
194.2

213.3
169.3
235.7
195.1

219.1
215.2
171.3 ' 170. 7
237.9 r 244.8
198.0
199.7

221.1
171.1
247.2
201.1

223.8
172.5
251.7
202.9

Nonmetallic mineral products 9
Clay prod., structural, excl. refrac
Concrete products
Gypsum products
Pulp, paper, and allied products
Paper
Rubber and plastics products..
Tires and tubes

do...
do...
do.._
do. _.
do.-.
...do.-do...
...do-..

186.3
163.5
180.1
154.4
179.4
182.3
159.2
161.5

200.5
179.8
191.8
183.5
186.4
194.3
167.6
169.9

202.5
184.5
193.5
189.8
187.8
196.2
169.3
172.0

204.3
185.7
194.0
193.7
188.1
196.0
169.5
172.0

205.4
187.8
195.0
201.6
188.7
197.4
170.2
172.0

205.7
185.1
195.4
203.2
188.2
197.2
170.2
171.7

206.6
185.5
195. 7
204.9
187.6
196.9
170.0
172.1

212.9
189.6
202.9
209.7
188.0
197.5
170.2
172.3

' 215.1
r 190. 4
205.2
215.9
' 188. 6
198.3
170.2
r 170. 9

215.8
193.5
205.9
217.0
189.8
199.0
171.3
172.2

218.0
193.7
207.8
221.2
191.6
202.8
172.7
175.0

Textile products and apparel §
do...
Synthetic
fibers
Dec. 1975=100.
Processed yarns and threads
do. _.
Gray fabrics
do.. .
Finished fabrics
do-_.
Apparel
1967=100
Textile house furnishings
do

148.2
102.4
99.5
106.1
101.1
139.
159.3

154.0
107.3
100.9
104.7
103.7
147.3
171.

154.6
109.3
102.8
103.3
104.6
147.8
170.8

155.1
109.4
102.1
103.0
104.4
148.4
174.4

155.2
109.2
101.2
103.7
104.3
148.6
175.2

155.3
109.3
100.4
105.2
103.5
149.1
175. 3

155.8
109.3
100.5
107.2
103.6
149.4
175.3

156.5
110.0
100.6
108.9
103.6
150.1
175.4

157.0
••109.9
101.0
109.9
' 103. 7
' 150.0
' 175.8

157.3
110.5
101.1
112.2
102.9
150.0
176.7

Transportation equipment 9 ...Dec. 1968=100.
Motor vehicles and equip
1967=100.

151.1
153.8

161.3
163.

160.7
163.2

161.5
163.9

16'
170.7

168.1
170.7

168.3
170.9

169.1 ' 169. 5
171.3 '171.8

169.6
171.9

157.7
109.8
101.3
113.9
103.1
150.3
176.4
170. 5
172.8

0.2

0.3

0.6

0.7

0.4

Chemicals and allied products 9
Agric. chemicals and chem. prod.
Chemicals, industrial
Drugs and Pharmaceuticals
Fats and oils, inedible
Prepared paint
Fuels and related prod., and power 9
Coal
Electric power
Gas fuels
Petroleum products, refined

r 190. 3
*• 207.7
r 224.8
r 160. 7

315.3
407.2
250.0
423.6
311.1

Seasonally Adjusted]:
All commodities, percent change from previous
month
By stage of processing;
Crude materials for further processing. .1967=100.
Intermediate materials, supplies, etc
do...
Finished goods O
do__
Consumer finished goods
do..
Food
do_Finished goods, exc. foods
do..
Durable
do..
Nondurable
do. Capital equipment
.do..

205.9
202.6
181.4
179.
189.4
173.0
153.6
186.1
185.5

205.
203.
182.1
180.
188.
174.
153.
187.
186.

207.7
204.3
183.2
180.8
189.4
174.8
154.9
188.0
188.9

214.4
205.2
184.3
181.9
191.7
175.4
155.4
188.7
189.9

217.2
205. 9
185.2
182.7
192.6
176.0
156.0
189.5
191.1

By durability of product:
Total manufacturesDurable manufactures
Nondurable manufactures

190.9
189.5
191.5

191.
191.1
191.4

192.3
192.2
192.0

193.7
193.
193.5

194.7 ° 196.4
194.2 «196. 3
194.4 « 195. 8

181.8
184.

181.
183.6

183.5
184.8

189.2
188.1

188.7
189.3

$0.514
.546

$0.512
.543

$0,509
.542

$0,508
.539

do..
do..
do. -

Farm products
do.
Processed foods and feeds
do.
PURCHASING POWER OF THE DOLLAR
As measured by—
Producer prices
1967=$1.00.
Consumer prices
do._

$0,541
.587

$0.51
.55:

r
b
Revised.
« See note " t " for this page.
Beginning Jan. 1978, based on CPI-U; see
note "If" for p. S-8.
d" See corresponding note on p. S-8.
9 Includes data for items not
shown separately.
§ Effective with Jan. 1976 reporting, the textile products group has been

275-875 O - 78 - S2




$0.50
.53

0.7

0.3

0.3

0.8

« 221.6 228.7
« 207. 9 209.7
« 186.6 188. f
° 184. 2 »• 1 8 6 . 4
« 194. 8 r 200. 7
«177.1 ' 177. f
«157. 4 ' 157. 7
« 190. 3 ' 190.9
• 192. 3 193.5

231.7
211.3
189.6
187.5
202.1
178.4
158.7
191.5
194.6

238.5
212.4
192.0
190.4
205.8
180.8
163.2
192.4
195.7

238.9
213. 7
193.4
191.6
206.7
182.3
165.5
193.3
197.3

243.1
214.3
194.7
192.9
209.1
182.9
165. 5
194.3
198.9

241.7
215.4
195.7
193.9
208.4
184.8
168.4
195.4
199.9

238.6
216.4
195.5
193. 4
205.2
185.6
169.6
195.9
200.6

242.3
217.9
197.2
195.1
208.6
186.6
170.3
197.1
201.8

198.4
198.1
198.1

199.5
199.3
199.1

201.4
201.3
200.8

202.7
202.6
202.5

203. 7
203.4
202.9

205.4
206.9
202.6

206.7
208.0
204.6

197.4
195. 4

205.5
198.7

214.2
201.0

214.2
202.6

218.2
203.6

204.4
205.0
202.9
216.8
201.6

210.8
201.4

214.2
204.7

$0.491 $0.484
.527
.522

$0.481
.517

$0. 478
.512

$0. 475
.508

$0. 475
.506

iO. 471
.502

«0.9

a
a

192.0
191.0

$0,500
".534

1.0

r

$0.49o
.531

1.0

1.0

0.7

extensively reclassified; no comparable data for earlier periods are available for the newly
introduced indexes.
t Beginning in the February 1978 SURVEY, data have been revised
(back to 1973) to reflect new seasonal factors.
O See corresponding note on p. b-8.

SURVEY OF CURRENT BU SLNk

S-10
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

October 1978

:ss
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

19, 013

19,614

Sept.

CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE %
mil. $_. 148,778

172,552

16,885

16,842

16,487

15, 730

13,813

11,462

11,414

13,386

15,126 i 16,948 '18,752

110,467
Private, total 9
do
60,520
Residential (including farm)
_..do
47,277
New housing units
...do
Nonresidential buildings, except farm and public utilities, total 9
...mil. $.. 26,091
Industrial
do
7,183
Commercial
do
12,756
Public utilities:
3,777
Telephone and telegraph
do

134,724
80,956
65,749

12, 973
8,151
6,586

12, 922
7,989
6,571

12,823
7,787
6, 573

12,438
7,431
6,345

11, 071
6,442
5,409

9,209
5,170
4,239

9,172
5,176
4,295

10,783
6,225
5,174

11,966
7,058
5,669

28,695
7,712
14,783

2,684
714

2, 745
711

2,770
719

2,714
723
1,419

2,416
690

2,074
554

2,095
565

2,463
720

2,672
750

2,825
735

3,171
966

1,417

1,469

1,496

1,220

1,081

1,097

1,242

1,385

1,524

1,627

413

402

413

385

294

297

424

417

438

516

3,913
1,172
77
101
125
1,170

3,920
1,230
95
106
135
1,069

3,664
1,133
90
95
114
1,097

1,108
74
101
113
838

2,742
1,016
63
99
118
508

2,253
950
63
96
115
323

2,242
945
59
93
117
266

2,603
1,055
70
96
119
376

3,159
1,173
66
107
120
548

176.4

177.8

176.7

178.1

179.0

171.7

177.9

184.8

137.6

138.3

139.2

140.6

142.3

135.3

142.2

147.1

82.9
67.1

83.0
67.6

84.2
69.3

85.2
70.7

87.4
72.8

79.7
65.0

85.6
70.9

30.0
8.1
15.7

30.5
8.1
16.2

30.3
8.2
15.9

30.7
8.4
15.9

29.0
7.9
14.9

28.4
7.4
15.0

4.5

4.5

4.6

4.6

'4.5

4.7

New construction (unadjusted), total.

Public, total 9 .

do.

38,311

37,827

...do....
do
do
do....
do

13.480
736
973
1,520
9,777

12,751
959
1,146
1,517
9,372

-

Buildings (excludingmilitary) 9
Housing and redevelopment
Industrial
Military facilities
Highways and streets

4,345

New construction (seasonally adjusted at annual
rates), t o t a l . .
bil. $..
Private, total 9

do.

Residential (including farm)
do
New housing units
do
Nonresidential buildings, except farm and public utilities, total 9
bil. $..
Industrial
_
do
Commercial
do
Public utilities:
Telephone and telegraph
...do....
Public, total 9

3,292

37.4

36.8

36.4

3,207
'950
1,661

3, 308
1,014
1,683

443
4,441

4,796

192.9

3,823 ' 4, 240
1,375 1,436
96
1,353
'91
114
92
119
124
106
113
1,169
'120
1,067
897
208.3
205.8
198.2

205.4

151.3

153.1

160.6

159. 9

157.7

87.6
72.5

90.0
74.4

91.1
75.1

'94.9
76.6

'94.0
'77.7

92.7
77.4

28.7
7.7
15.2

31.8
9.2
16.2

33.2
9.2
17.2

34.2
8.7

37.3
11.3

37.0
11.6
18.7

'18.5

19.2

' 37.7
'11.2
'19.4

4.5

4.9

5.3

5.0

5.6
'45.2
'16.0
1.0
1.3
1.4
10.3

35.7

37.7

41.5

5.5
'48.4

47.8

'16.7
1.0
1.6
1.5
'9.8

16.6
1.1
1.8
1.5
11.2

do.

38.8

..do.
do.
do.
do.
.-do.

13.0
.9
1.4
1.5
9.5

13.5
1.0
1.3
1.5
9.1

12.6
.9
1.2
1.4
9.5

12.9
.8
1.3
1.3
9.0

12.4
.8
1.1
1.4
8.5

12.7
.9
1.2
1.4
8.4

13.1
.9
1.1
1.5
7.4

13.8
.9
1.0
1.4
8.1

14.8
.9
1.2
1.5
8.5

45.1
'16.4
1.2
1.2
1.4
10.6

14,231
267
3,458
10,772

13,713
279
3,249
10,464

10,581
244

10,391
258

9,695
266

17,785
332

14,169
249

14,711

15,597
289

3,100
7,290

2,499
6,891

2,239
7,456

12,345
254
3,131
9,214

13,189
279

2,855
7,725

10,445
299
3,486
6,959

9,390
283

29,254
80,807

139,213
» 252
36,902
102,310

3,594
9,595

4,097
13,688

3,551
10,618

3,569
11,141

3,857
11, 740

do
do
do

30,035
44,169
35,857

35,299
61,433
42,481

3,785
6,148
4,297

3,617
5,518
4,578

3,154
5,452
1,975

3,107
5,281
2,003

3,370
4,305
2,770

2,809
3,884
2,697

2,905
3,862
2,929

3,429
6,139
2,776

3,470
6,854
2,864

4,538
7,652
5,596

3,768
7,722
2,679

4,534
6,710
3,466

3,945
6,910
4,742

do

88,457

91,702

7,736

9,091

8,238

7,313

12,700

6,885

10,349

10,470

7,014

6,556

8,771

9,071

9,756

5,882

. .thous.. 1,547.6
do.... 1,048.3
1,537.5
do
1,162.4
do

1.989.8
1.377.9
1,987.1
1,450.9

194.2
129.9
194.0
140.5

177.8
121.2
177.7
131.6

193.2
130.1
193.1
135.4

155.9
110.0
154.8
109.3

129.4
95.3
129.2
87.1

88.6
67.5
88.6
63.3

101.3
75.2
101.3
72.8

172.3
121.6
172.1
121.4

197.5
141.8
197.5
139.9

211.1
146.2
211.0
154.9

216.1
149.7
216.0
154.3

192.3
131.2
192.2
139.3

192.6

180.8

192.5
141.3

180.2
123.3

2,038
1,454

2,012
1,508

2,139
1,532

2,096
1,544

2,203
1,574

1,548
1,156

1,569
1,103

2,047
1,429

2,165
1,492

2,054
1,478

2,124

2,119
1,453

2,044
1,454

2,073
1,451

1,707
1,098

-

Buildings (excluding military) 9
Housing and redevelopment
Industrial
_
Military facilities....
Highways and streets

39.4

37.4

417

13,125 '14,511 14,571 14,818
7,954 ' 8,881 ' 8, 989 9,093
6,366 ' 7 041 ' 7, 382 7,567

CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. Dodge
Division, McGraw-Hill):
Valuation, total
.mil. $..
Index (mo. data seas, adj.)
.1967=100..
Public ownership._
Private ownership
By type of building:
Nonresidential...
Residential
Non-building construction
New construction planning
(Engineering News-Record) 0

mil. $..
do

110,061
»199

HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
TnsideSMSA'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 (14,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous..
One-family structures
do
Manufacturers' shipments of mobile homes:
Unadjusted
thous.
Seasonally adjusted at annual rates
do...

1,296
894

1,690
1,126

1,770
1,148

1,695
1,139

1,781
1,186

1,822
1,218

1,778
1,188

1,526
1,032

1,534
957

1,647
1,037

1,740
1,157

1,597
1,058

1,821
1,123

1,632
1,035

1,563
1,020

2 246.1

277.0

27.3
270

26.8
300

27.4
319

22.6
318

18.3
318

18.8
322

18.7
265

24.5
284

23.1
252

26.5
258

26.3
263

20.1
232

27.9
283

CONSTRUCTION COST INDEXES
Dept. of Commerce composited"

1972=100..

143.8

156.6

157.3

158.8

161.0

163.4

164.8

164.5

164.5

164.8

169.2

171.0

173.

173.6

175.5

American Appraisal Co., The:
Average, 30 cities
Atlanta
New York
San Francisco
St. Louis

1913=100.
do...
do...
do...
do...

1,870
2,009
1,943
1,906
1,803

1,998
2,141
2.065
2,063
1,905

2,037
2,181
2,132
2,082
1,942

2,049
2,190
2,136
2,140
1,946

2,051
2,182
2,127
2,134
1,938

2,061
2,187
2,129
2,134
1,959

2,068
2,187
2,131
2,147
1,967

2,088
2,197
2,162
2,167
1,986

2,095
2,247
2,162
2,195
1,990

2,111
2,270
2,174
2,195
2,003

2,124
2,283
2,181
2,220
2,029

2,137
2,294
2,191
2,216
2,066

2,169
2,309
2,211
2,230
2,078

2,180
2,348
2,211
2,295
2,087

2,207
2,366
2,223
2,312
2,102

Boeckh indexes:
Average, 20 cities:
148.6
151.5
137.3
Apartments, hotels, office buildings§.1972=100..
152.8
155.7
141.5
Commercial and factory buildings
do
148.5
136.2
152.2
Residences
do.
r
2
Revised.
*> Preliminary.
i Computed from cumulative valuation total.
Unadjusted data for Jan.-Dec. 1976 and seasonally adjusted data for Jan. 1974-Dec. 1976 will be
available later.
3 No longer available.
tData for new construction have been revised back to Jan. 1973. The revised data are
available from the Bureau of the Census, Washington, D.C. 20233.
©Data for Sept., Dec. 1977, and Mar., June and Aug. 1978 are for 5 weeks; other months,
4 weeks.




2,218
2,374
2,229
2,321
2,111

160.7
158.8
155.3
156.7
154.0
152.5
167.5
165.
160.9
158.5
163.0
157.5
166.4
158.8
157.5 I
162.0
153.2
155.5
9 Includes data for items not shown separately.
cTThis index has been revised to a new comparison base (1972=100); monthly data back
to Jan. 1964 are available upon request.
§These indexes are restated on the 1972=100 base; monthly data for earlier periods will be
available later.

SURVEY OF CURRENT BUSINESS

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

S-ll

1977
Aug.

Sept.

Oct.

1978
Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

240.0
251.2

244.6
254.4

246.2
256.3

251.0
262.6

252.3
263.3

i 254.5
266.3

10.9
133
15.4
186

11.1
124
17.7
185

8. 6
102
14.8
186

Sept.

CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES—Con.
Engineering News-Record:
Building
Construction
_.

1967=100.
do.,.

Federal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1967=100..

210.9
223.4

228.6
240.0

199.3

216.4

r 175.4

180.4

204.8
187.5

192.1
187.9

141.9
191.2
192.3

147.3
199.8
208.7

170.5
234.9
272.3

161.1
207.9
250.9

95.0

113.3

183.4

211.8

10.0
112
19.9
209

9.6
109
15.8
188

229.8
243.0

234.7
246.2

239.4
249.0

237.2
247.6

215.9

237.7
248.5

237.7
248.8

239.0
249.6

233.0

239.5
250.7
219.5

258.1

CONSTRUCTION MATERIALS
Output index:
Composite, unadjusted 9 c?
Seasonally adjustedcf

1947-49=100..
do

Iron and steel products, unadjusted
do
Lumber and wood products, unadjusted.do
Portland cement, unadjusted
do

187.5
167.5

172.8
180.7

149.4 • 142.2
206.6
186.7
' 285.5 205.1

163.3
187.3

148.4
156.9

153.6
174.1

186.6
193.9

139.1
186.5
156.3

124.9
187 1
91.7

129.2
186.9
110.8

161.9
212.7
188.1

158.9
194.2
226.5

176.4
209.6
268.6

178.6
205.1
297.8

6.7
95
12.8
205

7.2
116
15.3
226

7.2
96
13.7
181

10.4
111
18.1
191

11.0
134
18.9
215

12.0
114
16.3
171

9.7
102
16.7
178

REAL ESTATE1
Mortgage applications for new home construction:
FHA net applications
thous. units.
Seasonally adjusted annual rates
..do
Requests for VA appraisals
do
Seasonally adjusted annual rates.
do.

7.9
15.8
196

9.1
117
15.4
190

Home mortgages insured or guaranteed b y Fed. Hous. Adm.: Face amount.
.mil. $.. 6,362.12 8,840.84 948.09 715.93 765.65 895.80 543.88 811.39 785.78 963.10 714.60 868.92 805.68 886.60 1,049.48
1,049.48 867.76
3 1 9 0 0 1,553.62
1,319.00
Vet. Adm.: Face amount§_
__do.
10,414.77 13,753.02 1,527.21 1,541.53 1,070.96 1,311.79 1,216.71 1,586.68 1,411.86 1,344.91 988.96 1,180.30 1,108.57 1,178.68 1
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:
Home construction
.do
Home purchase..
_do.
All other purposes
...do.
Foreclosures

_

Fire losses (on bldgs., contents, etc.)

15,862

20,173

78,776

107,368

14,812
48,245
15,719

20,717
66,060
20,591

3,558

3,764

16,369

2,083
6,944
1,862

17,054

17,746

18,492

20,173

20,422

9,865

9,277

9,138

9,233

7,116

1,893
6,237
1,735

1,800
5,696
1,781

1,780
5,550
1,808

1,752
5,448
2,033

1,380
4,212
1,524

1,365
4,022
1,442

285

274

259

322

310

26,605

27,869

11,471

9,032

10,315

2,226
7,357
1,848

'1,811
r 5,757
" 1,464

1,962
6,791
1,562

311

355

' 351

307

244
267
277
212
212

257
288
265
228
236

22,957

23,664

25,274

9,419

9,027

10,438

2,113
5,502
1,804

2.011
5,261
1,755

2,260
6,424
1,754

379

385

370

20,845

21,278

29,158

number.
mil. $ . .

DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967=100..
Network TV
do
Spot TV
do....
Magazines..
do
Newspapers...
do

180
191
215
143
175

207
231
223
172
197

220
247
246
170
218

213
231
235
182
202

220
254
225
176
220

222
259
234
182
205

217
237
238
193
193

226
247
267
182
211

215
234
250
188
212

218
235
260
191
180

234
261
257
196
218

238
271
197
207

247
274
281
216
208

Magazine advertising (general and natl. farm magazines) :
Cost, total
.mil. $.. 1,626.7
Apparel and accessories
do
57.8
Automotive, incl. accessories.
do
142.3
Building materials
do
28.1
Drugs and toiletries
do
167.4
120.7
Foods, soft drinks, confectionery
do

1,965.4
69.6
176.6
36.2
201.8
150.5

122.3

173.1

221.4

4.6
9.7
1.4

9.4
8.5
3.9

21.3

14.1
10.7

16.9
11.9

20.2
16.1

222.3
8.6
20.9
3.2
18.6
18.4

177.6
5.9
13.7
2.2
17.5
13.3

130.3
3.8
12.1
1.8
12.3
8.8

160.2
3.7
17.5
2.1
16.1
13.5

193.5
7.6
19.5
4.1
17.7
18.0

212.7
9.2
20.9
6.0
19.8
15.7

231.0
8.7
22.8
6.1
22.0
14.3

189.7
5.1
19.5
3.9
19.7
14.9

162.9
3.5
17.8
2.1
13.7
14.3

146.9
6.0
13.8
2.4
13.9
13.4

111.0
83.4
47.0
25.0
161.8
682.0

132.3
112.8
49.5
33.9
194.5
807.7

6.9
6.0
2.9
2.2

10.5
11.9

17.7
13.3

17.8
46.0

15.8
76.2

20.8
90.7

18.9
14.8
5.1
3.4
19.5
91.1

22.5
8.9
3.7
2.5
17.5
69.9

7.2
6.7
4.0
2.1
14.7
56.8

10.3
8.7
3.8
3.0
16.1
65.4

13.0
13.2
4.8
4.3
16.0
75.2

12.9
14.7
4.8
3.7
17.2
87.9

16.5
18.1
6.9
3.2
18.4
94.0

17.5
11.3
4.5
2.5
18.1
72.7

18.6
9.5
3.3
2.5
18.0
59.5

11.3
9.8
3.9
2.8
16.3
53.3

5,352.0
127.0
1,341.8
147.6
731.0
3,004.6

5,996.7
154.5
1,569.6
160.8
803.6
3,308.0

472.0
10.9
141.3
54.9
255.4

501.3
12.0
134.0
13.3
72.2
269.8

586.7
16.7
151.5
17.6
86.5
314.4

584.2
14.1
128.5
14.5
81.6
345.5

524.8
8.3
105.9
14.6
56.1
340.1

488.2
11.1
142.0
18.4
67.7
249.0

458.5
13.7
129.7
11.3
64.4
239.4

555.6
15.5
152.8
16.2
69.6
301.4

621.0
14.4
177.5
19.8
84.4
324.8

600.8
13.7
165.5
19.2
80.7
321.6

578.2
12.9
165.8
23.3
73.9
302.3

523.2
10.9
172.9
17.1
50.9
271.3

488.7
10.8
162.7
8.6
47.4
259.2

Merchant wholesalers sales (unadj.), total O mil. $.. 580,894
Durable goods establishments
...do
246,732
Nondurable goods establishments
do.
334,162

642,104
285,605
356,498

55,597
25,998
29,599

54,505
25,461
29,044

54,251
25,369
28,882

56,034
25,340
30,694

56,244
24,797
31,427

52,143
22,869
29,274

52,766
23,880
28,886

62,900
28,985
33,915

60,613 =66, 249 65,834
28,784 30,405 30,991
31,829 35,844 34,843

•60,651
•28,701
•31,950

67,494
32,184
35,310

68,082
43,252
24,830

68,555
43,676
24,879

69,596
44,287
25,309

71,156
45,757
25,399

73,931
47,275
26,656

74,635
47,957
26,678

74,882
49,627
25,255

74,874
49,900
24,974

74,269
49,377
24,892

Beer, wine, liquors
do
Household equip., supplies, furnishings..do
Industrial materials
do
Soaps, cleansers, etc
do
Smoking materials
do
Allother
do
Newspaper advertising expenditures (64 cities): ©
Total
mil. $.
Automotive..
.declassified
...do...
Financial
_
do._.
General
,.
do...
Retail.
do...

9.4

5.3
2.9

8.4
4.5

4.8
3.5

WHOLESALE TRADE O

Merchant wholesalers inventories, book value,
end of year or month (unadj.), total O mil. $_. 62,056
68,555 64,105 65,291 66,530
Durable goods establishments
do.
43,676 42,142 42,484 42,627
37,628
- Nondurable goods establishments
do_
24,879 21,963 22,807 23,903
24,429
r
l
Revised.
v Preliminary.
Index as of Oct. 1, 1978: Building, 254.8; construction
265.4.
9 Includes data for items not shown separately.
§ Data include guaranteed
direct loans sold.
1[ Home mortgage rates (conventional 1st mortgages) are under money and interest rate
on p. S-18.
©Source: Media Records, Inc. 64-City Newspaper Advertising Trend Chart.
cfMonthly
revisions back to Jan. 1974 will be shown later.




74,634
48,918
25,716

©Beginning Nov. 1977 SURVEY, data revised to reflect new sample design, benchmarking
to the 1967 and 1972 Censuses, conversion of the classifications to the 1972 SIC, addition of
farm assemblers and bulk petroleum establishments, and revision and updating of seasonal
factors. Revisions back to Jan. 1967, as well as a summary of the changes, appear in the report,
Monthly Wholesale Trade: January 1967-August 1977 (Revised) available from the Census
Bureau, Washington, D.C. 20233.
The revisions back to 1967 also appear on p. 34ff of the
May 1978 SURVEY.

« Corrected.

SU1

S-12
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S S T A T I S T I C S

October 1978
1978

1977

1977

1976

KKN' r BU JSlJNJb

OF

Aug.

Annual

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: IT
Estimated sales (unadj.), totalU

mil. $.. 642,507

r

08,344

60,702

58,341

60,836

61,975

74,219

52,146

52,479

63,334

62,391

67,475

65,076

67,177

64,910

21,228

16,314

17,230

21,863

22,227

24,059

24,656

22,975

23,736

22.045

210,530

238,815

21,182

19,551

20,788

20,049

32,226
22,206
5,659

37,958
26,706
6,431

3,657
2,669
556

3,547
2,587
549

3,591
2,599
567

3,229
2,307
« 555

2,963
1,928
648

2,304
1,591

2,419
1,664
387

3,116
2,139
503

3,592
2,409
570

4,027
2,681
624

4,186
2,927

' 4,012
'2,870
'584

' 4,214
3,075
590

» 4,169

do..
do..
do..

125,685
115,596
10,089

143,682
131,418
12,264

12,713
11,641
1,072

11,327
10,273
1,054

12,418
11,313
1,105

11,551
10,448
1,103

10,927
9,812
1,115

9,976
9,071
905

10,710
9,872

14,008
12,940
1,068

13,832
12,715
1,117

14,831
13,698
1,133

15,133
13,913
1,220

13,764
12,593
' 1,171

13,978
12,779
1,199

12,536

Furniture, home furn., and equip
do.
Furniture, home furnishings stores. . . d o .
Household appliance, radio, TV
do.

31,368
18,665
9,784

34,499
20,843
10,654

2,946
1,823
881

2,842
1,695
885

2,911
1,761
887

3,179
1,937

3,815
2,058
1,328

2,513
1,515
770

2,523
1,541
732

2,882
1,761
845

2,887
1,830
800

3,059
1,938
865

3,091
1,946
888

'3,009
'1,860
'879

r 3,200
1,988
924

3,087

do_.
do..
_do_.
do..

431,977
79,258
62,900
7,598

469,529
89,231
71,583
7,958

39,520
7,258
5,837
639

38,790
7,143
5,797
589

40,048
7,616
6,179
639

41,926

52,991
14,572
11,817
1,308

35,832

7,290
706

4,325
450

35,249
5,488
4,404
482

41,471
7,317
5,867
« 643

40,164
7,420
5,987
613

42,309
7,960
6,401
662

42,473
8,049
6,492

42,101
'7,443
' 5,937
'637

43,441
'8,082
'6,479
685

42,865
18,004
*6,449

do.
do..
._do.

145,939
136,100
51,265

156,313
145,900
56,538

13,082
12,220
5,070

13,194
12,349
4,787

13,169
12,250
4,856

13,135
12,265
4,721

14,894
13,787
4,918

12,880
12,043
4,537

12,617
11,796
4,313

14,333
13,374
4,804

13,675
12,759
4,787

14,328
13,347
5,049

14,732
13,737
5,147

14,806
13,829
' 5,173

14,667
13,665
' 5,253

14,851
13,875
5,018

do..
.do.

33,188
6,683

33,527
6,694

2,733
495

2,694
484

2,891
543

3,166
675

4,899
1,088

2,217
458

2,080
402

2,847
509

2,729
511

2,817
517

2,804
537

'2,674
485

'3,066
509

1

Women's clothing, spec, stores, furriers .do.
Shoe stores
_
do..

12,702
5,575

12,814
5,832

1,038
504

1,083
520

1,160
519

1,206
609

1,847
720

829
413

814
364

1,116
555

1,063
514

1,096
515

1,079
553

'1,071
'547

1,211
640

Eating and drinking places
do...
Drug and proprietary stores
do.._
Liq uor stores
-do
Mail-order houses (dept. store mdse.)§.-do...

58,008
20,716
12,734
6,099

63,891
22,380
13,084
6,751

5,898
1,833
1,067

5,485
1,794
1,028

5,508
1,847
1,067

5,261
1,849
1,106
878

5,491
2,685
1,583

4,857
1,820
945

4,761
1,793
928

5,610
2,010
1,044

5,750
1,883
1,087

6,055
2,000
1,092

6,251
2,009
1,145

' 6,426
' 1,957
'1,188

' 6,492
' 2,033
1,168

Durable goods stores 9
do
Building materials, hardware, garden supply,
and mobile home dealers 9
mil. $__
Building materials and supply stores-do
Hardware stores
do
Automotive dealers 9
Motor vehicle dealers
Auto and home supply stores

Nondurable goods stores
General merch. group stores
Department stores
Variety stores
Food stores
Grocery stores._
Gasoline service stations
Apparel and accessory stores
Men's and boys' clothing

Estimated sales (seas, adj.), totalif

-do

Durable goods stores 9
-do...
Building materials, hardware, garden supply,
and mobile home dealers 9
mil. $.
Building materials and supply stores . d o . . .
Hardware stores.
do...
Automotive dealers
_
Motor vehicle dealers
Auto and home supply stores.

573

549

720

59,177

59,412

60,720

do.
-do.
do.

Furniture, home furn., and equip. 9—-do...
Furniture, home furnishings stores..-do...
Household appliance, radio, TV
do..-

20,795

702

440

437

598

543

537

500

'502

593

61,813

59,987

61,548

62,649

63,917

64,292

64,565

64,343

65,505

1

6,102
*1,992

66,502
' 23,226

20,674

19,914

20,445

20,897

21,807

21,821

22,092

• 21,844

22,755

12,460
11,357
1,103

3,149
2,224
513
12,393
11,343
1,050

3,224
2,096
529
12,095
10,982
1,113

3,382
2,181
520
• 12,160
11,105
1,055

3,341
2,247
542
12,642
11,564
1,078

3,559
2,473
556
13,135
12,064
1,071

3,518
2,446
557
13,069
12,005
1,064

3,619
2,543
568
13,232
12,151
1,081

'3,641
'2,560
'553
• 12,774
• 11,704
' 1,070

' 3,773
2,658
582
13,490
12,347
1,143

2,942
1,757
918

3,030
1,833
934

3,008
1,807
941

2,793
1,704
842

2,921
1,761
857

2,887
1,737
867

3,055
1,900
870

3,101
1,915
916

3,039
1,873

'3,059
'1,883
'872

' 3,162
1,915
943

3.202

42,110
8,026
6,425

42,471
8,160
6,538
695

42,473
8,215
6,618
-•685

'42,499 •42,750
' 8,141 ' 8,178
' 6,531 ' 6 , 5 8 4
'709

43,276
i 8,334
i 6,655

r 14,381 14,398
>• 13,452 IS, 437
' 4,803 ' 4 , 8 8 7

14,622
13,616
i 4,963

20,161

20,837

3,229
2,287
543
12,137
11,129
1,008

3,297
2,335
550
12,092
11,011
1,081

3,428
2,422
566
12,482
11,381
1,101

2,920
1,772

2,842
1,695
885

20,141

61,650

3,104

3,260
2,300
536

1

3,944

13,701

-do..
..do..
..do..
do.

7,363
5,944
644

39,251
7,403
5,952
627

39,883
7,716
6,248
650

40,855
7,822
6,306
641

41,139
8,276
6,646

40,073
7,432
6,066
628

41,103
7,763
660

41,752
7,866
6,336
659

do.
do.
do.

13,005
12,171
4,712

13,099
12,251
4,693

13,203
12,299
4,761

13,569
12,644
4,798

13,406
12,898
4,898

13,636
12,704
4,796

13,906
12,977
4,952

13,900
12,947
4,983

14,218
13,291
4,900

14,342
13,374
4,916

14,263
13,324
4,930

Apparel and accessory stores
do...
Men's and boys' clothing
do...
Women's clothing,spec, stores, furriers-do...
Shoe stores
_
do...

2,782
548
1,062
482

2,696
530
1,064
467

2,855
559
1,111
513

3,027
640
1,140
541

2,875
568
1,123
515

2,723
533
1,017
502

2,755
537
1,054
485

2,885
549
1,148
509

3,009
573
1,184
539

2,953
548
1,133
534

2,924
522
1,127
536

' 2,986
552
' 1,193
r 501

«• 3, 111 * 3,116
562
1,245
536

Eating and drinking places
do
Drug and proprietary stores
do...
Liquor stores
do
Mail-order houses (dept. store mdse.)§-do...

5,372
1,853
1,067
558

5,529
1,892
c 1,067
545

5,384
1,889
1,084
603

5,486
1,894
1,106
576

5,469
2,008
1,089
580

5,415
1,944
1,104
609

5,510
1,957
1,101
550

5,772
1,992
1,106
574

5,808
1,999
1,064
598

5,783
1,996
1,117
590

5,853
1,999
1,138
597

' 5,917
' 2,018
' 1,137
'607

'5,940
' 2,079
1,163
576

88,194
39,148
6,663
18,473
7,105

90,527
40,434
6,705
19,519
7,301

85,148
40,372
6,659
20,296
7,197

85,092
40,927
6,875
20,665
7,116

86,333
41,662
7,180
20,917
7,157

89,825
42,670
7,352
21,424
7,304

90,953
43,029
7,480
21,398
7,504

91,514
43,281
7,479
21,381
7,519

91,502
42,804
7,516
20,959
7,493

91,326
42,137
7,439
20,295
7,507

91,363
40,464
7,507
18,395
7,629

49,046
19,852
14,626
9,183

50,093
20,382
15,204
9,166
8,237

44,776
16,571
12,215
9,198
7,282

44,165
16,502
12,136
8,948
6,982

44,671
16,911
12,266
8,963
7,172

47,155
18,561
13,662
9,280
7,366

47,924
19,351
14,283
9,233
7,503

48,233
19,599
14,465
9,379
7,486

19,777
14,555
9,564
7,471

49,189
20,115
14,516
9,541
7,671

50,899
21,133
15,147
9,616
8,003

87,642
41,369
7,173
20,249
7,348

89,097
41,521
7,166
20,269
7,423

89,963
41,881
7,262
20,360
7,565

91,063
42,300
7,254
20,480
7,587

91,543
42,036
7,333
20,329
7,531

92,470
42,359
7,461
20,377
7,590

93,680
42,640
7,396
20,394
7,675

46,273
18,087
13,203
9,044
7,494

47,576
18,952
13,927
9,317
7,418

48,082
19,384
14,254
9,261
7,564

48,763
19,667
14,465
9,417
7,608

49,507
20,039
14,807
9,641
7,686

50,111
20,389
14,873

51,040
20,929
15,117
9,822
7,932

Nondurable goods stores..
General merch. group stores
Department stores
Variety stores
_
Food stores.
Grocery stores
Gasoline service stations

Estimated inventories, end of year or month:f
Book value (unadjusted), totalt
. . . m i l . $.
Durable goods stores 9
do. _ _
Building materials and supply stores-do...
A utornotive dealers
do
Furniture, home furn., and equip
do_._

76,115
35,895
6,083
18,031
6,070

85,148
40,372
6,659
20,296
7,197

82,245
37,233
6,614
17,583
6,707

84,843
37,950
6,734
17,639
6,973

-do._.
..do...
--.do_do_.
do...

40,220
13,660
10,061
8,880

44,776
16,571
12,215
9,198
7,282

45,012
17,497
12,641
8,781
7,372

18,410
13,341
8,921
7,788

Book value (seas, adj.), totalf
.do...
Durable goods stores 9
do...
Building materials and supply stores-do...
Automotive dealers
do...
Furniture, home furn., and equip
do.._

78,045
36,417
6,336
18,195
6,064

87,073
40,534
6,936
20,055
7,190

84,462
39,303
6,654
19,515
6,741

85,215
39,559
6,809
19,341
6,877

85,322
39,589
6,730
19,404
6,858

86,299
40,087
6,828
19,756
6,973

87,073
40,534
20,055
7,190

87,708
41,060
7,066
20,300
7,269

41,628
14,893
10,960
8,732
7,016

46,539
18,097
13,321
9,053
7,641

45,159
17,335
12,616
8,960
7,306

45,656
17,624
12,828
9,002
7,361

45,733
17,824
13,047
8,968
7,413

46,212
18,116
13,313
8,805
7,536

46,539
18,097
13,321
9,053
7,641

46,648
18,237
13,455
9,038
7,581

Nondurable goods stores 9
General merch. group stores..
Department stores
Food stores
Apparel and accessory stores

Nondurable goods stores 9
General merch. group stores
Department stores..
Food stores
Apparel and accessory stores..
r

-do.__
do...
.do.
do
..do

Revised.
i Advance estimate.
1[Effective Nov. 1977 SURVEY OF CURRENT BUSINESS, estimates have been revised to reflect a new sample design, benchmarking to the 1967
and 1972 Censuses, redefinition of sales to exclude sales taxes and finance charges, classifications based on the 1972 Standard Industrial Classification (SIC), and revision and updating
of seasonal adjustment factors. Revisions back to Jan. 1967, as well as a summary of the
changes, appear in the report, Monthly Retail Sales: January 1967-August 1977 (Revised),
available from the Census Bureau, Washington, D.C. 20233.
Effective Oct. 1978 SURVEY,




7,8

1 6,018
12,095

seasonally adjusted data for motor vehicle dealers, total automotive dealers, total durable
goods and total retail stores have been revised back to Jan. 1977; earlier revisions are on p .
56 of the Oct. 1978 SURVEY.
9 Includes data not shown separately.
§Includes sale of
mail-order catalog desks within department stores of mail-order firms. -f Series revised,
beginning Jan. 1967, to reflect the 1972 SIC desingations.
Revised historical data appear
on p. 34 ff. of the May 1977 SURVEY,
C Corrected.

S-13

SURVEY OF CURRENT BUSINESS

October 1978
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1978

1977

Annual

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

DOMESTIC TRADE—Continued
RETAIL TRADEX—Continued
Firms with 11 or more stores:
Estimated sales (unadjusted), totalX

0)
0)
0)

mil. $..

Durable goods stores
Auto and home supply stores
Nondurable goods stores 9
General merchandise group stores
Department stores
Variety stores
Miscellaneous general stores

do—
do—
do
do—
do—
do
do

»)

0
»)
0)
0)

Food stores
do.
Grocery stores
do.
Apparel and accessory stores 9
do
Women's clothing, specialty stores, furriers.
mil. $..
Family clothing stores
do
Shoe stores
do
Eating places...
Drug stores and proprietary stores
Estimated sales (seas, adj.), totalf9
Auto and home supply stores
Department stores
Variety stores
Grocery stores

All retail stores, accts. receivable, end of yr. or mo.
Total (unadjusted)
mil. $.
Durable goods stores
do...
Nondurable goods stores.
do...
Charge accounts
Installment accounts
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts

21,037

22,783

30,601

17,556

17,477

21,496

20,944

22,073

22,380

1,541
249

1,607
267

1,674

2,207
274

1,162
204

1,194
190

1,508
262

l f 607
294

1,743
266

1,788
287

18,697
6,473
5,529

19,430

21,109
8,092
553
641

28,394
13,149
11,165
1,043
941

16,394
4,764
4,109
329
326

16,283
4,875
4,183
359
333

19,988
6,511
5,565

449

18,661
6,381
5,483
461
437

453

19,337
6,607
5,686
459
462

20,330
7,096
6,082
496
518

20,592
7,184
6,176
500
508

6,894

7,178
7,097

7,143
7,058

7,153
7,073

8,161
8,046

7,022
6,939

6,877
6,792

7,876
7,776

7,406
7,325

7,649
7,567

7,878
7,798

1,043

1,145

1,788

673

1,032

1,017

1,007

1,006

0)

(J)
0)
(0
0)

()
0)
0)
0)
0)
0)
0)
0)
0)

Apparel and accessory stores
do...
Women's clothing, spec, stores, furriers.do...
Shoe stores
do...
Drug stores and proprietary stores
_do...

20,202

1,558
260

495

0)

do...
do...
do...
do
do...
do...
do...

20,255

5,837
494
477

493

1,788
271

19,887 20, 742
' 6, 604 7,192
' 5, 649 6,165
517
481
510
'474
r 7,873

7,718
7,632

*• 7, 790
1,144
'931

416
245
242

395
223
258

433
242
247

463
272
262

747
467
366

276
163
183

287
158
163

432
226
279

404
224
243

432
241
247

422
233
242

1,102
840

1,010
835

1,030
861

999
870

1,050
1,440

932
862

921
825

1,122
974

1,130
894

1,203
950

1,198
970

20,396 •20, 942
255
261
5,629
5,902
491
503
7,133
7,079

21,525
271
5,967
502
7,152

21,917
256
6,2»0
555
7,178

20,703
255
5,723
480
7,213

21,264
252
5,993
489
7,488

21,476
251
5,984
498
7,484

22,24ft
268
6,140
517
7,760

22,222
245
6,187
524
7,674

22,243
246
6,232
519
7,668

423
229
934

1,020
439
253
971

1,077
464
265
974

1,089
461
274
962

1,058
446
263
975

20,205
245
5,630
498
6,908

21, 611 22,530
' 1, 724
••267

1,017
428
227
844

954
379
227
887

1,035
425
251
892

1,089
443
260
919

1,023
418
243
952

925
373
233

32,153
9,515
22,638

34,149 330,181
10,089 310,061
24,060 320,120

30,484
10,074
20,410

30,986
10,216
20,770

31,733
10,097
21,636

34,149
10,089
24,060

32,454
9,445
23,009

31,692
9,369
22,323

31,650
9,531
22,119

31,599
9,817
21,782

31,915
9,963
21,952

32,212
10,203
22,009

406
'222
212
1,236

481
269
1,230
955

22,761 22,391
254
'256
' 6, 249 6,272
534
540
' 7, 853 7,556
1,111
474
259
'994

1,119
469
254
953

32,147 32, 643
10,375 10, 609
21, 772 22,034

do...
do
do.
do
do.

12,889
19,264

10,659 3 9,720
23,490 320,461

9,910
20,574

10,116
20,870

10,200
21,533

10,659
23,490

22,526

9,823
21,869

10,011
21,639

10,029
21,570

10,171
21,744

30,323
9,481
20,842

32,018 3330,633 30,694
9,872
9,775
10,019
21,999 3 20,761 20,919

31,076
9,951
21,125

31,547
10,102
21,445

32,018
10,019
21,999

31,966
9,790
22,176

32,020
9,838
22,182

32,275
9,919
22,356

32,030
10,010
22,020

31,950
9,880
22,070

10,399 • 10,319
21,813 •21,828
32,362 •32,807
9,933 • 10,195
22,429 •22,612

do.
do.

12,591
17,732

10,490
21,528

3 9,729
320,904

9,899
21,177

10,145
21,402

10,490
21, 528

10,281
21,685

10,346
21,674

10,371
21,904

10,077
21,953

9,820
22,130

10,097 • 10, 381 10, 787
22,265 •22,426 22,422

218.09

218.22

218. 36 218. 50 218. 67

20,891

10, 550
22,093
33, 209
10,429
22, 780

LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseasf

mil.

LABOR FORCEIf
Not Seasonally Adjusted
Labor force, total (including armed forces), persons
16 years of age and over
thous
Civilian labor force
._
do
Employed, total
Z — ZZZZZZZ". do

Agriculture

ZZZZdo

Nonagricultural industries
_.
Unemployed
_
Seasonally Adjusted^
Civilian labor force._
Employed, total
Agriculture
Nonagricultural industries . .

do
ZdoIZ"

2

215.14

96,917
94,773
87,485
3,297
84,188
7,288

2

216.82

99,534 101, 210
97,401 99,073
90,546 92,315
3,682
3,244
87,302 88,633
6,757
6,855

do
"do
do
do

Unemployed
_
do
Long-term, 15 weeks and over..ZlZIdoZI"
Rates (unemployed in each group as percent
of total in the group):
All civilian workers
Men, 20 years and over.'I.I.I.I ~
Women, 20years and over."
Both sexes, 16-19 years

216.99

217.16

217.61

217. 74

217.84

99,815 100,585 100,951
97,684 98,451 G8,819
91,247 92,230 92,473
3,326
3,181
3,408
87,921 88,822 89,292
6,346
6,437
6,221

100,832
98, 503
92, 623
2,914
89, 710
5,880

100,071
97,950
91,053
2,868
88,185
6,897

100,048 100,565 100,984 01,422 104,276 104,755 104,169 102,961
97,924 98,443 98,866 99,309 102,178 102,639 102,047 100,838
91,185 91,964 93,180 93,851 95,852 96,202 96,116 95,041
3,549
3,856
2,913 3,151 3,369 3,983 3,997
2,771
88,413 89,051 90,029 90,483 91,869 92,204 92,261 91,492
5,797
6,479 5,685 5,457 6,326 6,438 5,931
6,739

87,569

90,793
3,224

218. 86

217.48

97,756
91,088
3,199
87,889

97,614

217.33

98,071 98,877
91,383 92,214
3,243
3,357
88,140 88,857

98,919 99,107 99,093
92,609 92,881 93,003
3,323 3,354 3,242
89, 286 89, 527 89,761

217.94

99,414
93,266
3,310
89,956

99,784 100,261 100,573 100,618 100,549 100, 870
93,801 94,112 94,819 94,425 94,581 94,868
3,360 3,411
3,275 3,235 3,473 3,387
90,526 90,877 91,346 91,038 91, 221 91, 457

2,339

1,911

6,821
1,800

6,668
1,834

6,688
1,848

6,663
1,829

6,310
1,797

6,226
1,688

1,568

6,148
1,463

5,983
1,384

6,149
1,358

5, 754
1,23J

6,193
1,292

5,968
1,215

6,002
1,293

7.7
5.9
7.4
19.0

7.0
5.2
7.0
17.7

7.0
5.1
7.1
17.3

6.8
4.7
6.9
18.3

6.8
5.0
6.8
17.3

6.7
4.7
6.9
17.3

6.4
4.6
6.6
15.6

6.3
4.7
6.1
16.0

6.1
4.5
5.7
17.4

6.2
4.5
5.8
17.3

6.0
4.2
5.8
16.9

6.1
4.2
6.3
16.5

5.7
3.9
6.1
14.2

6.2
4.1
6.5
16.3

5.9
4.1
6.1
15.6

6.0
4.0
6.0
16.6

White
Black and other
Married men, wife present—ZZZZI

7.0
13.1
4.2

6.2
13.1
3.6

6.1
14.3
3.5

6.0
13.1
3.3

6.0
13.7
3. 6

5.9
13.7
3.3

5.5
12.7
3.2

5.5
12.7
2.9

5.3
11.8
2.9

5.3
12.4
3.0

5.2
11.8
2.8

5.2
12.3
2.9

4.9
11.9
2.7

5.3
12.5
2.7

5.2
11.7

5.3
11.2
2.7

Occupation: White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):"
Private wage and salary workers
Construction...
_""
Manufacturing
"_
Durable goods......... .

4.6
9.4

4.3
8.1

4.2

4.2
7.8

4.1
8.0

4.2
7.6

4.0
7.2

3.6
7.1

3.5
7.1

3.4
7.1

3.5

3.6
6.6

3.8
6.9

3.5
7.0

3.5
7.0

7.9
15.6
7.9
7.7

7.0
12.7
6.7
6.2

7.0
11.4
6.9
6.3

6.8
10.4
7.0
6.4

6.9
12.1
6.8
6.1

3.5
6.5
5.6
9.3
5.6
4.8

oJoiufwf
9 A e e ^ e T o n p - S " 1 2 ; revised data for periods prior to May 1977 are not
available.
2 As of July 1.
3 Beginning Aug 1977, data reflect use of new sample
and are not strictly comparable with those for earlier periods; see note "H" for p. S-12.
+PPJ!°I °??-S^12'
9 deludes data for items not shown separately.
TKevisions back to Oct. 1973 appear in "Population Estimates and Pojections: Estimates




5.9
6.0
5.9
5.9
5.9
6.0
9.1
9.5
10.7
9.5
9.2
11.3
5.7
5.6
5.5
5.3
5.6
5.4
5.5
5.1
5.0
4.4
5.0
4.8
of the Population of the United States and Components of Change—1930-75," P-25, No. 632
(July 1976), Bureau of the Census.
H Effective with the Feb. 1977 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1972; comparable monthly figures for 1972-75 appear in E M PLOYMENT AND EARNINGS (Feb. 1977), U.S. Department of Labor, Bureau of Labor Statistics.
« Corrected.
6.7
11.2
6.5
6.0

6.3
10.8
5.7
5.6

6.2
11.7
5.6
5.2

6.1
11.5
5.7
5.0

S-14

SUEVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1976

October 1978
1978

1977

Annual

Sept.

Aug.

Oct.

Jan.

Dec.

Nov.

Mar.

Feb.

Apr.

May

June

July

Aug. v Sept. v

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENTfO
Employees on payrolls of nonagricultural estab.:O
Total, not adjusted for seasonal variation..thous..
Private sector (excl. government)
do

T

' 79,382
64,511

r

Total employees, nonagricultural payrollsfOdo
Private sector (excl. government)
_._do
Nonmanufacturing industries
do
Goods-producing
do
Mining
do
Contract construction
__do
Manufacturing
do
Durable goods.
_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 prod.© do
Miscellaneous manufacturing
do

' 79,392
64,511
45,514
23,352
779
3,576

* 82,256
67,177
47,530
24,289
809
3,833

18,997
11,077
680
444
644
1,155
1,511
2,065
1,774
1,799
575
429

19,647
11,573
722
463
668
1,179
1,577
2,179
1,868
1,862
615
439

19,697
11,621
721
463
670
1,177
1,586
2,203
1,882
1,865
618
436

19,715
11,639
730
465
672
1,182
1,580
2,204
1,881
1,868
620
435

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 ccal products
do
Rubber and plastics products, nee..do
Leather and leather products
do
Service-producing
do
Trans., comm., electric, gas, etc
.do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
._
do

7,920
1,689
77
919
1,318
676
1,099
1,042
198
640
263

8,074
1,703
74
914
1,312
693
1,338
1,071
202
712
253

8,076
1,700
71
913
1,311
697
1,143
1,074
203
713
251

56,030
4,582
17, 755
4,546
13,209

57,968
4,696
18,492
4,697
13,795

58,227
4,698
18,607
4,720
13,887

83,452
68,556

r

83,891 ' 84,276 r 84,464 ' 82,724 ' 82,962
68,560 68,786 68,982 67,372 67,363

82,603 ' 82,973
67,464 67,769
47,767 48,054
24,376 24,441
830
795
3,896
3,884

r

83,199
67,979
48,210
24,507
833
3,905

82,256 r 82,556
67,177 68,172

r

83,897 r 85,075 r 85,796 ' 86,800 *• 85,925 ' 86,155
68,171 69,309 69,988 71,109 70,996 71,374

r

84,726 r 85,418 ' 85,618
69,291 69,901 70,056
49,061 49,619 49,759
24,927 25,313 25,341
698
867
869
4,175
4,164
3,999

r

86,618
71,455

Seasonally Adjusted!
r

r

r

r

T

86,106
70,630
50,348
25,442
885
4,275

20,302
12,138
743
485
698
1,199
1,643
2,345
1,977
1,937
660
451

20,272
12,143
743
481
690
1,203
1,643
2,354
1,975
1,943
662
449

20,282
12,167
742
479
690
1,217
1,646
2,355
1,975
1,949
665
449

8,207
1,702
76
908
1,325
709
1,186
1,091
209
749
252

8,164
1,688
73
909
1,307
710
1,187
1,091
207
749
243

8,129
1,666
68
900
1,309
698
1,191
1,091
208
746
250

8,115
1,664
69
907
1,310
695
1,181
1,088
209
742
250

60,277
4,847
19,335
4,885
14,450

60,523
4,881
19,412
4,905
14,507

60,532
4,827
19,469
4,901
14,568

60,711
4,844
19,525
4,905
14,620

60,664
4,852
19,509
4,971
14,588

4,637
15,896
15,562
2,753
12,809

4,670
15,963
15,597
2,772
12,825

4,690
45,989
15,557
2,765
12,792

4,711
16,072
15,559
2,765
12,794

4,723
16,104
15,476
2,766
12,710

T

57,358 r 58,289 r 58,120 " 58,412
14,534 14,737 14,476 14,672

58,487
14,876

r

57,428
18,565
659
3,303

' 83,719
68,451
48,467
24, 626
687
3,955

19, 769
11,693
736
471
673
1,182
1,597
2,219
1,891
1,867
620
437

19,849
11,746
745
475
680
1,180
1,608
2,232
1,903
1,860
623
440

19,984
11,851
756
481
685
1,180
1,617
2,251
1,912
1,895
628
446

20,065
11,917
754
484
689
1,186
1,625
2,259
1,923
1,917
632
448

20,139
11,986
756
487
691
1,193
1,638
2,271
1,935
1,928
635
452

20,230
12,041
752
491
692
1,189
1,639
2,289
1,951
1,944
639
455

20,282
12,076
751
491
699
1,192
1,646
2,309
1,951
1,936
644
457

20,297
12,093
745
489
700
1,197
1,652
2,311
1,952
1,942
649
456

20,316
12,109
747
486
701
1,197
1,645
2,332
1,962
1,929
654
456

8,078
1,700
72
912
1,313
695
1,145
1,073
204
714
250

8,076
1,682
72
914
1,314
694
1,148
1,073
204
720
255

8,103
1,693
71
918
1,318
693
1,512
1,073
205
726
254

8,133
1,700
74
917
1,320
697
1,156
1,076
206
734
253

8,148
1,706
74
917
1,318
699
1,159
1,079
207
707
252

8,153
1,705
74
917
1,315
699
1,163
1,081
208
738
253

8,189
1,718
76
916
1,319
703
1,171
1,081
209
744
252

8,206
1,715
74
911
1,330
706
1,174
1,085
210
748
253

8,204
1,701
75
913
1,326
709
1,180
1,093
207
747
253

58,532
4,727
18,672
4,736
13,936

58, 692
4,721
18,733
4,745
13,988

58,932
4,736
18,830
4,761
14,069

59,093
4,749
18,911
4,783
14,128

59,223
4,758
18,991
4,802
14,189

59,464
4,782
19,071
4,828
14,243

59,799
4,817
19,169
4,854
14,315

60,105
4,847
19,252
4,872
14,380

4,452
Finance, insurance, and real estate
do
4,271
4,487
4,468
4,508
Services
_
.do
14,551
15,249 15,315 15,442 15,510
Government
do
14,871
15,079 15,139 15,204 15,220
Federal..
.
do
2,733
2,727
2,730
2,725
2,728
State and local
_
.do
12,138
12,352 12,409 12,479 12,492
Production or nonsupervisory workers on private r
nonagric. payrolls, not seas, adjusted©.thous... 52,897 r 55,040 r 55,883 r 56,236 ' 56,241
Manufacturing
do
13,638
14,110 14,268 14,464 14,396
Seasonally Adjusted!
Production or nonsupervisory workers on private r
nonagricultural payrolls!-thous.. 52,897 r 55,040 r 55,262 ' 55,513 r 55,660
Goods-producing
do
17,044
17, 729 17,779 17,826 17,874
592
615
601
633
Mining
do
635
Contract construction
do
2,814
3,004
3,049
3,052
3,062
Manufacturing
do
14,110 14,129 14,141 14,177
13,638
Durable goods
do
7,914
8,291
8,320
8,330
8,371
616
Lumber and wood products
do
576
616
624
630
Furniture and
fixtures
do
364
382
381
381
387
Stone, clay, and glass products
do
514
533
536
537
534
Primary metal industries
do
904
920
916
921
922
Fabricated metal products©
do
1,139
1,194
1,199
1,195
1,210
Machinery, except electrical
do
1,447
1,340
1,425
1,442
1,455
Electrical equipment and supplies.. .do
1,235
1,160
1,227
1,235
1,243
Transportation equipment©
do
1,284
1,235
1,284
1,288
1,281
Instruments and related prod.©
do
353
375
375
377
378
Miscellaneous manufacturing
do
329
331
335
329
331
Nondurable goods
do
5,809
5,724
5,819
5,811
5,806
Food and kindred products
do
1,149
1,145
1,154
1,150
1,131
Tobacco manufactures
do
64
60
57
57
57
Textile mill products
do
800
793
795
794
795
Apparel and other textile products.__do
1,134
1,126
1,124
1,124
1,125
Paper and allied products
do
523
508
519
521
520
Printing and publishing
do
625
646
644
647
650
Chemicals and allied products
do
600
614
615
615
614
Petroleum and coal products
do
128
131
132
133
134
Rubber and plastics products, nee. _ .do
493
556
557
556
562
Leather and leather products
do
227
217
215
214
218
Service-producing
do
35,853
37,311 37,483 37, 687 37, 786
Transportation, comm., elec, gas, etc do
3,918
3,993
4, 015
3,990
4,009
Wholesale and retail trade
do
15,649
16,297 16,400 16, 445 16,496
W holesale trade
do
3,746
3,869
3,885
3,900
3,908
Retail trade
do
11,904
12,427 12,51". 12,545 12, 588
Finance, insurance, and real estate
do
3,243
3,385
3,397
3,411
3,425
Services
do
13,043
13,636 13,690 13,816 13,856
r
Revised. P Preliminary. ©See end of notef for this page.
fData have been revised to conform to the 1972 Standard Industrial Classification and
adjusted to March 1977 benchmark levels; consequently they are not comparable with previously published data. For a discussion of the effect of these revisions, see "BLS Establishment Estimate Revised to Reflect New Benchmark Levels and 1972 SIC," in the October 1978

4,535
15,568
15,263
2,727
12,536

4,547
15,618
15,268
2,723
12,545

4,563
15,597
15,314
2,736
12,578

4,591
15,670
15,350
2,736
12,614

4,605
15,773
15,435
2,739
12,696

4,623
15,866
15,517
2,745
12,772




r

83,871
68,557
48,492
24,648
678
3,905

56,449 •• 56,612 ' 55,028
14,387 14,378 14,237

' 55,969
17,985
639
3,083

r

56,095
17,976
502
3,099

r

56,114
17,954
493
3,021

84,188
68,838
48,699
24, 724
684
3,901

r

54,984 r 55,716 r 56,761
14,250 14,355 14,444

r

56,348
18,016
494
3,023

r

56,744 ' 57,263
18,198 18, 541
509
655
3,122
3,288

14,263
8,429
639
391
544
921
1,221
1,462
1,252
1,284
380
335

14,375
8, 515
646
397
549
922
1,228
1,477
1,258
1,312
384
342

14,440
8, 569
650
399
553
929
1,234
1,483
1,267
1,326
386
342

14,499
8,620
650
401
551
937
1,247
1,493
1,276
1,332
388
345

14,567
8, 661
647
405
552
933
1,247
1,507
1,288
1,342
391
349

14,598
8,676
646
405
558
934
1, 251
1,517
1,284
1,337
394
350

5,834
1,142
57
800
1,130
519
651
614
134
569
218

5,860
1,151
59
798
1,131
523
653
617
135
575
218

5,871
1,156
59
799
1,132
523
656
618
136
576
216

5,879
1,158
59
798
1,131
525
658
620
136
578
216

5,906
1,168
60
798
1,134
527
663
620
137
583
216

5,922
1,167
59
794
1,144
530
664
624
137
586
217

37,984
4,015
16,607
3, 925
12,682
3,445
13,917

38,119
4,024
16, 676
3,943
12,733
3, 453
13, 966

38,160
4,028
lfi,737
3, 958
12,779
3,472
13,923

38,332
4,044
16,812
3,982
12,830
3,494
13,982

38,546
4,067
16,894
4,007
12,887
3, 500
14,085

38,722
4,094
16,952
4,020
12,932
3,516
14,160

r

86,033 ' 86,164
70,476 70,605
50,174 50,333
25,501 25,453
882
886
4,317
4,295

85,996
70,399
50,083
25,473
879
4,278

83,549
68,286
48,437
24,617
840
3,928"

r

57,653 r 57,704 r 57,740
18,660 18,675 18,607
663
667
667
3,401
3,439
3,415

57,719
18,607
669
3,397

14, 603 14,596
8, 685
8,683
639
641
404
400
557
558
939 •
939
1,257
1,250
1,516
1,533
1,283
1,284
1,344
1,327
397
402
349
349

14,569
8,694
637
398
554
942
1,245
1,547
1,293
1,328
407
343

14,525
8,692
635
394
548
946
1,242
1,547
1,293
1,339
406
342

14,541
8,708
633
393
546
955
1,245
1,549
1,290
1,344
410
343

5,918
1,154
60
795
1,140
535
668
• 628
135
586
217

5,913
1,152
61
792
1,137
535
668
628
136
587
217

5,875
1,142
58
791
1,121
535
669
628
135
587
209

5,833
1,121
53
783
1,125
521
670
624
136
584
216

5,833
1,125
55
791
1,120
520
661
623
137
581
214

38,863
4,086
17,079
4,026
13, 053
3, 523
14,175

38,993
4,109
17,106
4,043
13,063
3,540
14,232

39,035
4,051
17,165
4,040
13,125
3, 565
14,254

39,133
4,062
17,213
4,038
13,172
3, 581
14,280

39,112
4,064
17,179
4,056
13,123
3,591
14,278

issue of Employment and Earnings, available from the U.S. Government Printing Office,
Washington, D.C. 20402.
©Effective October 1978 SURVEY, includes data formerly shown separately under ordnance and accessories.

October 1978
Unless otherwise stated in footnotes below, data
-through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

BVlSJLJNE

S-15

1977

1977

Annual

1

OJb' UUKJ

SUB

Aug.

Sept.

Oct.

1978

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

' 35.9
36.3
43.0
37.3
40.3
40.5
3.6

'35.8
36.2
43.2
37.1
40.4
40.4
3.5

'35.8
35.9
42.6
36.9
40.7
40.4
3.6

Aug.*

Sept.*

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEKf
Seasonally Adjustedf
Avg. weekly hours per worker on private nonagric.
payrolls-.^ Seasonally adjusted!
hours.
Not seasonally adjusted
do...
Mining
do.. _
Contract construction
do. -.
Manufacturing: Not seasonally adjusted
do...
Seasonally adjusted
do. -.
Overtime hours
do.. Durable goods
do_.
Overtime hours
do.
Lumber and wood products
do.
Furniture and fixtures
do.
Stone, clay, and glass products
do.
Primary metal industries
do.
Fabricated metal products©
do.

-•36.1
35.8
44.0
37.3
40.4
40.8
3.8

'35.9
35.7
43.4
36.6
40.4
40.4
3.5

'35.9
36.2
43.4
37.3
40.8
40.5
3.6

41.2
3.8
40.0
39.6
41.3
41.6
41.2

40.4
3.7
39.3
38.4
40.0
41.4
40.3

40.7
4.0
39.6
40.0
40.9
41.6
40.7

41.3
3.9
39.9
40.1
41.8
41.5
41.3

41.4
4.0
40.2
40.1
42.0
41.5
41.4

41.0
3.7
39.5
39.4
41.6
41.7
41.1

41.2
3.7
40.0
39.5
41.9
41.8
41.0

41.2
3.8
39.8
39.3
41.7
41.8
41.0

41.0
3.7
39.3
38.9
41.5
42.1
40.9

41.1
3.8
39.4
38.9
41.4
41.6
40.9

41.9
40.5
42.6
40.6
38.9

41.9
,40.5
41.5
40.5
38.6

41.1
39.7
41.6
40.4
38.0

41.8
40.0
40.9
40.6
38.3

42.3
40.6
42.1
41.3
39.0

42.3
40.4
42.4
41.4
39.1

42.1
40.2
41.8
40.8
38.8

42.3
40.2
42.0
40.8
38.8

42.2
40.7
42.1
40.7
38.8

41.9
40.4
42.0
40.8

42.1
40.2
42.6
41.0

39.4
3.1
39.7
38.1
40.6
35.6

39.5
3.2
40.1
38.5
40.7
35.8

39.4
3.3
39.9
38.0
40.5
35.9

38.8
3.2
39.7
37.6
40.3
33.7

39.1
3.3
39.7
38.3
40.3
35.5

39.7

3.3
40.0
38.9
40.8
36.0

39.8
3.4
40.1
38.7
40.9
36.3

39.5
3.2
39.8
38.7
40.5
35.9

39.4
3.1
39.6
39.6
40.3
35.8

39.4
3.2
39.8
38.6
40.2
35.8

39.4
3.2
39.7
37.5
40.4
35.6

39.3
3.2
39.7
37.6
40.3
35.6

42.8
37.9
41.7
42.6
40.7
37.1

42.8
37.9
41.7
42.9
40.8
37.2

42.8
37.8
41.7
42.8
40.8
37.4

42.9
37.6
41.7
43.4
40.6
37.0

42.5
37.4
41.6
43.1
40.2
36.5

42.5
37.4
41.6
42.8
39.8
36.4

43.4
38.0
42.1
43.3
40.7
37.1

43.5
37.9
42.0
43.6
41.3
38.1

42.9
37.3
41.9
42.9
41.1
37.6

42.9
37.5
41.9
43.4
41.1
37.4

42.9
37.6
41.8
43.9
40.9
37.2

42.8
37.5
41.8
44.1
40.9
37.3

42.6
37.6
41.7
43.6
41.1
37.3

39.8
33.2
38.7
31.5
36.4
33.0

39.8
33.2
38.8
31.5
36.4
33.0

39.8
33.4
38.9
31.7
36.5
33.2

40.2
33.1
38.8
31.4
36.4
33.0

40.0
33.1
38.8
31.4
36.4
33.0

40.0
32.7
38.7
30.9
36.3
33.0

40.1
32.7
38.7
30.9
36.3
32.9

40.4
33.0
38.9
31.2
36.3
33.0

40.0
33.0
39.0
31.2
36.7
33.0

40.2
32.9
38.7
31.1
36.3
32.9

40.1
32.8
38.8
31.0
36.5
32.8

39.6
32.9
38.7
31.1
36.6
32.8

39.9
32.8
38.8
30.9
36.5
32.7

40.0
32.7
38.7
30.9
36.5
32.9

156.99
126. 72
1.88
7.39
40.77
9.53
31.84
8.63
26.67
30.27

157.14
127.09
1.97
7.37
40.86
9.58
31.94
8.65
26.73
30.05

158.69
128.06
1.99
7.48
41.09
9.52
32.20
8.72
27.06
30.63

158. 96 160.94
128.46 130.41
1.68
1.61
7.72
7.33
42.15
41.54
9.87
9.77
32.49
32.12
8.92
8.82
27.58
27.26
30.53
30.51

162.93
131.01
2.07
8.24
42.37
9.83
32.72
8.99
27.79
30.92

162.53
131.61
2.06
8.13
42.26
9.88
32.65
8.94
27.68
30.92

163.50
132.58
2.08
8.50
42.37
9.88
32.91
9.02
27.83
30.92

163.47
132.54
1.99
8.39
42.53
9.93
33.41
8.94
27.35
30.92

162.97
132. 31
'2.01
'8.28
' 42. 26
' 10.05
'33.38
'8.94
' 27.39
' 30.66

162.68
132.30
1.96
8.19
42.26
10.08
33.34
8.97
27.50
30.38

115.7
100.2
131.1
106.6
98.0
99.0
96.6

116.3
100.7
138.1
107.0
98.2
99.4
96.6

117.0
101.2
138.8
107. 6
98.8
100.1
96.8

117.4
102.0
139.7
108.7
99.5
100.8
97.6

117.5
101.6
107.8
108.6
100.2
101.7
97.9

116.2
99.3
105.6
100.3
98.9
100.5
96.5

117.1
100.9
106.8
104.2
100.1
101.9
97.4

119.1 ' 120.4 ' 120.0
106.0
103.6
105.1
144.2
111.3
143.1
118.8
111.5
117.1
102.5
102.0
101.6
104.2
103.9
103.5
99.9
99.2

• 120. 6
106.0
144.0
122.8
101.7
103.8
98.7

• 120.6 • 120.4
106.1
105.4
144.2
143.5
122.7
124.2
101.0
101.6
103.6
104.0
97.2
98.1

' 120.5
105.3
142.6
121.4
101.2
103.9
97.2

126.4
105.6
122.9
120.8
123.7
131.7
139.3

127.1
106.1
123.3
121.6
124.0
132.3
140.6

128.0
105.9
124.3
122.2
125.2
133.2
141.8

128.1
107.2
124.2
122.4
124.9
133.6
141.6

128. 5
106.9
124.7
123.0
125.4
133.9
142.1

127.9
107.0
123.7
123.1
123.9
134.3
141.7

128.4
107.7
124.2
123.9
124.4
135.1
141.8

129.8
109.1
125.9
125.3
126.1
135.4
143.3

130.5
108.7
126.4
126.0
126.6
137.5
144.1

130.5
109.0
126.8
125.2
127.3
136.2
143.8

130.7
109.4
126.8
126.1
127.0
137.9
143.9

130.8
107.6
127.2
125.9
127.7
139.2
144.0

131.0
107.9
126.9
126.2
127.2
139.6
144.8

'5.35
7.13
8.26
5.79

'5.39
7.14
8.29
5.82

' 5.40
7.19
8.26
5.85

'5.40
6.77
8.29
5.92

'5.47
6.91
8.34
5.97

'5.49
6.93
5.98

'5.52
6.95
8.40
6.00

'5.59
7.62
8.39
6.03

'5.62
7.64
8.52
6.07

6.18

6.22

6.25

6.33

6.35

~6.~37

6.40

6.44

6.47

5.24
4.43
5.91
7.64
6.01
6.38
5.51
7.37
5.37
4.41

5.26
4.44
5.94
7.65
6.05
6.45
5. 52
7.54
5.38
4.42

5.25
4.47
5.98
7.71
6.08
6.46
5.55
7.57
5.43
4.47

5.27
4.51
6.00
7.76
6.12
6.54
5. 65
7.67
5.51
4.54

5.39
4.55
6.04
7.86
6.11
6.53
5.66
7.59
5.54
4.58

5.39
4.55
6.04
7.96
6.13
6.59
5.68
7.60
5.59
4.57

5.40
4.56
6.08
7.94
6.19
6.61
5.68
7.69
5.60
4.60

5.43
4.59
6.18
7.98
6.25
6.61
5.70
7.74
5.62
4.63

5.49
4.61
6.25
8.04
6.27
6.63
5.73
7. 75
5. 65
4.64

' 5. 65 ' 5.69
7.82
7.69
8.63
8.56
6.17
6.11
5.92
5.85
6.57
6.52
6.29
6.23
5.71
5.66
4.68
4.66
6.37
6.33
8.19
8.10
6.32
6.29
6.73
6.70
5.83
5. 75
7.84
7.81
5.70
5.65
4.70
4.66

'5.70
7.79
8.71
6.16
5.90
6.57
6.28
5.67
4.72
6.39
8.28
6.35
6. 75
5.87
7.79
5.75
4.71

'5.80
7.99
8.84
6.28
5.98
6.71
6.38
5.71
4.76
6.44
8.38
6.47
6.89
5.95
8.04
5.81
4.74

41.2
3.8
40.1
39.5
41.0
41.5
41.0

41.2
3.8
40.0
39.5
41.5
41.5
41.0

41.7
40.5
42.8
40.6
38.9

41.9
40.5
42.9
40.8
38.9

39.3
3.1
39.8
38.0
40.2
35.5

39.3
3.1
39.6
38.3
40.2
35.4

42.9
37.7
41.7
42.7
41.0
36.9

42.6
37.5
41.8
42.8
40.8
37.0

33.7
38.7
32.1
36.4
33.3

39.9
33.3
38.8
31.6
36.4
33.0

151.39
122.09
1.74
6.93
39.31
9.36
31.02
8.21
25.51
29.30

156. 60
126. 74
1.91
7.36
40.72
9.76
31.78
8.58
26.63
29.87

39.0
41.3
41.3
41.0

41.0
3.6
39.3
39.0
41.3
41.3
41.0

41.1
3.6
40.1
39.1
41.0
41.2
40.9

41.2
40.0
41.7
40.3
38.8

41.5
40.4
42. 5
40.6
38.8

41.5
40.6
42.5
40.6
38.7

do.
do.
do.
do.
do.
do.

39.4
3.0
40.5
37.5
40.1
35.8

39.4
3.2
40.0
37.9
40.4
35.6

do.
do.
do.
do .
do_
do.

42.5
37.5
41.6
42.1
40.7
37.4

do.
do.
do.
do.
do,
do.

41.0

39.9
38.8
41.1
40.8
40.8

do.
do_
do.
do.
do.

Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Trans., comm., elec, gas, etc
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services

'36.0
35.8
43.7
36.9
40.4
40.6
3.7

'36.1
36.1
43.7
36.3
40.6
40.5
3.5

40.6

Machinery, except electrical
Electrical equipment and supplies
Transportation equipment©
Instruments and related products©
M iscellaneous manufacturing ind

-•35.7
35.3
43.2
35.6
39.6
40.1
3.7

'35.9
36.2
42.9
36.2
41.1
40.5
3.6

36.1
43.6
36.2
40.7
40.3
3.4

36.0
43.4
36. 5
40.3

r

S5.5
35.1
42.8
34.3
39.2
39.8
3.5

' 36.0
35.9
43.7
36.4
40.7
40.5
3.6

'35.9
36.3
43.6
36.1
40.3
40.3
3.4

36.1
42.4
36.8
40.1

AGGREGATE EMPLOYEE-HOURS
Seasonally Adjusted
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month, seasonally adjusted at annual ratef
bil. hours..
Total private sector
do
M ining
do
Contract construction
do
M anufacturing
do
Transportation, comm., elec, gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services
do
Government
do
Indexes of employee-hours (aggregate weekly) :1ff
Private nonagric. payrolls, total
1967=100..
Goods-producing
do
Mining
do
Contract construction
do
M anufacturing
do
Durable goods
do
Nondurable goods
do
Service-producing
Transportation, comm., elec, gas
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services

do
do
do
do
do
do
do

158.10 158.94 157.64
128. 37 128. 74 127.47
1.62
1.58
2.00
7.55
7.05
7.58
41.54 41.08
41.18
9.72
9.58
9.71
32.32 32.06
32.10
8.79
8.78
8.77
27.34
27.20
27.03
29.72 30 20 30.17

130.7
106.5
127.4
125.7
128.0
139.0
144.1

HOURLY AND WEEKLY EARNINGS
Average hourly earnings per worker:lf
Not seasonally adjusted:
Private nonagric payrolls
dollars. . ••4.86
'5.24
'5.25
Mining
do
6.46
6.94
7.70
8.09
Contract construction
do
8.11
5.22
5.67
Manufacturing
do.
5.69
Excluding overtime
do.
Durable goods
do.
6.06
6.C
5.58
Excluding overtime
do.
4.72
5.09
5.15
Lumber and wood products
do
3.99
4.34
4.40
Furniture and
fixtures
do
5.33
5.80
5.88
Stone, clay, and glass products
do
6.77
7.40
7.55
Primary metal industries
do.
5.49
5.90
5.93
Fabricated metal products©
do
5.78
6.25
6.28
Machinery, except electrical
do
4.96
5.39
5.44
Electrical equipment and supplies.do
6.62
Transportation equipment©
do.
7.28
7.24
4.93
5.29
5.32
Instruments and related prod.©
do
4.04
4.36
4.36
Miscellaneous manufacturing ind--do
Revised.
p Preliminary.
1f Production and nonsupervisory workers.
T bee corresponding note., p. S-14.
© See corresponding note, p. S-14.




SUEVEY OF CURRENT BUSINESS

S-16
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1976

Annual

October 1978
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Mar.

Feb.

Apr.

May

June

July

Aug. v Sept. »

LABOR FORCE, EMPLOYMENT, AND\ EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS—Con.
Avg. hourly earnings per worker, private nonagric.
payrolls. Not seas. adj. %— Continued
M anuf acturing—Continued
Nondurable goods
dollars..
Excluding overtime
do
Food and kindred products
do
Tobacco manufactures
do
Textile mill products
- do
Apparel and other textile products...do
Paper and allied products
do
Printing and publishing .
. .do
Chemicals and allied products
do
Petroleum and coal products
do
Rubber and plastics products, nee. _ .do
Leather and leather products
do .
Transportation, comm., elec, gas
do
Wholesale and retail trade
.do
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate.
do
Services
do .
Seasonally adjusted:!
Private nonagricultural payrolls . . do
Mining
do
Contract construction
do
Manufacturing
. . ..do Transportation, comm., elec, gas
do
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services
do
Indexes of avg. hourly earnings, seas, adj.: \ t
Private nonfarm economy:
Current dollars
.. . 1967=100
1967 dollars A
do
Mining..
do
Contract construction
..
do.. .
Manufacturing
do
Transportation, comm., elec, gas
. . . do . . .
Wholesale and retail trade
do
Finance, insurance, and real estate
do
Services...
.
. .
. . do
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): cT
Common labor..
.
$ per hr
Skilled labor..
do....
Farm (U.S.) wage rates, hired workers, by
method of pay:
All workers, including piece-rate
$ per hr..
All workers other than niecp-ratp
do
Workers paid per hour, cash wages only, do

'4.70

'5.10

'5.14

'5.20

'5.21

'5.24

'5.30

'5.38

'5.38

'5.39

'5.42

'5.44

4.97
4.99
3.69
3.40
5.47
5.71
5.91
7.21
4.65
3.40
6.46
3.97
5.18
3.57
4.27
4.31

5.37
5.62
3.98
3.62
5.96
6.11
6.43
7 82
5.17
3.61
6.99
4.27
5.39
3.85
4.54
4.65

5.39
5.59
4.07
3.61
6.04
6.15
6.49
7.82
5.18
3.59
7.04
4.27
5.41
3.85
4.54
4.61

5.45
5.53
4.10
3.68
6.11
6.22
6.56
7.88
5.21
3.64
7.14
4.34
5.47
3.90
4.58
4.71

5.44
5.48
4.10
3.69
6.14
6.24
6.62
7.91
5.22
3.66
7.22
4.37
5.53
3.92
4.64
4.76

5.53
5.71
4.12
3.71
6.17
6.26
6.66
7.91
5.25
3.68
7.25
4.38
5.55
3.94
4.63
4.78

5.60
5.80
4.14
3.76
6.20
6.27
6.72
8.00
5.29
3.69
7.29
4.38
5.61
3.93
4.67
4.80

5.63
6.03
4.17
3.85
6.27
6.33
6.78
8.41
5.34
3.80
7.34
4.54
5.67
4.10
4.76
4.89

5.68
6.06
4.16
3.85
6.32
6.34
6.82
8.57
5.33
3.84
7.37
4.54
5.66
4.10
4.76
4.91

5.69
6.30
4.17
3.89
6.32
6.37
6.83
8.50
5.32
3.86
7.34
4.56
5.69
4.11
4.76
4.91

5.73
6.33
4.17
3.91
6.33
6.37
6.87
8.53
5.36
3.87
7.45
4.60
5.78
4.14
4.84
4.95

5.75
6.41
4.19
3.89
6.37
6.38
6.93
8.52
5.43
3.88
7.45
4.61
5.78
4.15
4.85
4.95

'5.48
5.26
5.75
6.61
4.20
3.92
6.51
6.42
6.96
8.52
5.47
3.89
7.47
4.62
5.81
4.16
4.89
4.93

'5.57
5.35
5.80
6.58
4.32
3.92
6.63
6.47
7.05
8.58
5.51
3.89
7.53
4.66
5.91
4.19
4.93
4.95

'5.55
5.33
5.80
6.28
4.38
3.93
6.58
6.50
7.03
8.59
5.53
3.89
7.57
4.66
5.91
4.18
4.89
4.94

'5.61
5.37
5.86
6.09
4.41
4.01
6.65
6.55
7.10
8.65
5.59
3.94
7.61
4.72
5.98
4.23
4.94
5.04

'4.86
6.46
7.70
5.22
6.46
3.97
4.27
4.31

'5.24
6.94
8.09
5.67
6.99
4.27
4.54
4.65

'5.27
7.01
8.11
5.72
6.99
4.30
4.55
4.68

••5.31
7.08
8.15
5.77
7.08
4.33
4.59
4.70

'5.36
7.16
8.19
5.82
7.16
4.36
4.64
4.75

'5.39
7.18
8.20
5.85
7.12
4.39
4.66
4.76

'5.41
6.75
8.24
5.88
7.28
4.42
4.68
4.78

'5.46
6.84
8.30
5.93
7.34
4.51
4.72
4.86

'5.49
6.92
8.35
5.98
7.38
4.50
4.71
4.87

'5.54
6.94
8.47
6.01
7.40
4.55
4.75
4.90

'5.61
7.63
8.47
6.05
7.49
4.60
4.84
4.95

'5.62
7.66
8.59
6.08
7.50
4.60
4.84
4.94

'5.66
7.71
8.65
6.12
7.52
4.63
4.89
4.96

'5.71
7.85
8.66
6.18
7.53
4.67
4.95
5.01

'5.72
7.88
8.71
6.20
7.52
4.69
4.90
5.02

'5.75
7.93
8.72
6.25
7.55
4.71
4.95
5.03

183.0
107.3
198.6
184.7
184.6
196.7
176.1
169.9
183.9

196.8
108.4
214.8
194.3
199.4
213.2
189.5
180.7
197.9

198.3
108.3
216.8
194.5
201.2
213.2
190.8
181.4
198.7

199.6
108.6
218.4
195.3
202.4
216.2
191.9
182.6
199.9

201.5
109.2
220.9
196.3
204.0
218.8
193.5
185.1
202.2

202.4
109.3
221.2
196.7
205.3
220.2
194.6
185.4
202.6

203.5
109.4
217.2
197.4
206.5
222.1
195.9
186.0
203.5

206.0
206.6
208.3
210.3
211.0
212.3
214.1
214.2
215.4

109.9
109.5
109.5
109.6
109.0
108.7
109.0
108.5
108.3

219.7
221.0
222.5
237.1
237.3
239.8
244.3
244.5
248.5

198.8
200.1
203.0
203.5
206.0
207.6
207.9
209.0
209.1

208.1
209.4
211.0
212.2
213.5
214.7
216.7
217.5
218.6

223.8
224.9
225.6
228.4
229.2
229.6
230.4
229.3
230.6

199.9
199.7
201.5
203.5
204.0
205.2
207.6
207.9
209.1

187.7
187.3
188.9
192.3
192.4
194.6
196.9
195.3
196.8

207.0
206.8
208.7
210.5
210.4
211.5
213.2
213.2
214.1

8.93
11.85

9.46
12.56

9.64
12.75

9.68
12.85

9.68
12.87

9.69
12.90

9.74
12.94

9.77
13.01

9.78
13.03

9.82
13.04

9.83
13.04

9.87
13.09

9.96
13.19

10.26
13.55

10.27
13.61

10.38
13.66

2.66
2.61
2.81
2.65
6.929

2.87
2.82
3.06
2.90
7.481

Avg. weekly earnings per worker, f private nonfarm:f
Current dollars seasonally adjusted
1967 dollars seasonally adjusted A
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adjusted
1967 dollars seasonally adiusfpd A
Current dollars, not seasonally adjusted:
Private nonfarm, total
..dollars..
Mining
_ ..
do
Contract construction .
do
Manufacturing
do
Dnrablp poods
do
Nondurable goods
do
TransDortation comm PIPO pas
do
Wholesale and retail trade
do
Wholesale trade
do
Retail trade
do
Finance insurance and real pstatp
do
Services *
do

' 188. 64
301.20
295.29
228.50
248.46
200.94
278.90
142.19
209.13
120.11
165.26
153.45

2.99
2.92
3.24
3.08
7 658

3.09
3.05
3.22
3.08

3.18
3.13
3 40
3.18

2.93
2.90
3.06
3.00

189.19
103.33

190.63
103. 72

193. 50
104.93

194.04
104.77

194. 22
104.42

193.83
103.38

195.99 '199.44
103. 86 104.86

202.52
105.59

201. 76 '203.19 '204.99 '204.78 '205.85
104.21 104.04 104.43 103.74 103.55

172.86
94.41

173.99
94.66

176.24
95. 57

176.67
95.39

176.81
95.06

173.27
92.41

174.93
92.70

177.52
93.33

179.83
93.76

179.26
92.59

180.33
92.33

181.68
92.55

181.52
91.96

182.32
91.71

190.58 193.14
300.76 314.43
200.26 303.14
229.31 235.65
248.67 255. 85
203.54 205.92
283.01 284. 89
145.18 144.09
210.45 212. 24
122.15 122.85
165.71 166. 25
154.44 154.96

194. 58
317.02
308.39
236.29
256.89
206.32
287. 36
145.08
215.67
122.36
169.36
157. 56

193.56 195.48
317.80 289.08
298.19 299.27
238.10 243.31
258. 75 265.86
208.03 211.47
291.45 293.06
144.10 146.29
215.34 218. 79
123.00 123.70
168.53 169. 99
157.26 158.40

192.00
289.53
275. 22
234.02
252. 73
205. 52
289.20
146.19
217. 73
120. 08
173.26
160.39

193.80
297.30
287.87
236.81
256. 71
208. 21
294. 80
146.64
217. 34
122. 36
173. 26
160. 56

'197.62
301.63
304.92
242.40
263.04
212.37
294.33
149.11
220.20
122.88
172. 79
161. 05

200.12
332.23
310. 43
243. 61
265. 33
213. 55
296.51
150. 42
224. 26
127. 26
177.14
162. 36

'200.63
331. 58
312.68
245. 23
265. 27
213.79
297.26
150.75
223. 69
133.57
176.06
161. 37

'204.53
336.05
324.42
249.29
270. 58
217. 56
301.04
153. 38
226. 59
127.40
178.49
162. 69

'206.55
337.82
329. 67
248.65
268.71
220.02
301.20
157.04
230.49
134.08
180. 93
164.84

'206.34
334.97
330.11
248.86
268.71
219.78
305.07
156.11
230.49
132. 92
178.97
164.01

'203.22
344.37
330.62
255. 60
277. 79
222.72
305.16
154.34
231.43
130. 71
179.82
165. 31

HELP-WANTED ADVERTISING
Seasonally adjusted index

1967=100

95

118

122

120

128

133

140

138

139

141

146

144

147

'150

151

152

3.9
2.6

4.0
2.8

5.2
3.9

4.6
3.5

3.8
2.9

3.0
2.2

2.3
1.5

3.2
2.2

3.7
2.6

4.0
2.9

4.7
3.6

'4.8
'3.8

4.4
3.2

5.3
4.1

4.8
3.8

5.1
3.1
1.0

4.8
2.8
1.1

3.8
1.9
1.1

3.3
1.5
1.1

3.3
1.2
1.4

3.7
2.4
3.5
1.5
1.2

3.1
1.4
.9

3.5
1.8
.9

3.5
2.0
.7

3.6
2.1
.7

3.8
2.2
.7

4.1
2.1
1.1

5.2
3.4
.t

4.8
3.0
.8

'3.7

'3.9

'4.4

'3.9

'4.2

'4.0

'3.9

'3.8

2.9
3.9
2.0

'4.2

'4.0

2.7
3.8
1.9

'4.0

'4.1

2.7
3.9
1.8

3.3
3.9
2.0

3.0
3.8
2.0

3.0
3.8
2.0

3.1
4.0
2.2

2.9
3.9
2.0

3.8
2.8
3.7
1.9

1.1

1.0

1.0

.9

1.0

.9

3.0
3.9
2.1
1.0

3.0
4.0
2.1

1.3

3.1
3.8
2.0

1.0

.9

.9

4.1
3.0
3.7
2.0
.8

LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees.
New hires
do
Separation rate, total . . .
_. do . .
Quit
do
Layoff
do
Seasonally adjusted:
Accession rate total
do
New hires
do
Separation rate total
do
Quit
do
Layoff
do

3.8
1.7
1.3

3.8
1.9
1.2

2.8
3.7
1.9

1.1

.9

WORK STOPPAGES 0
Industrial disputes:
Number of stoppages:
'408
'485
5,648
'481
5,600
Beginning in month or year
.number.
822
930
923
In effect during month
do
Workers involved in stoppages:
157
200
152
2,420
2,300
Beginning in month or year
thous
290
335
In effect during month
do
278
37,859
36,000
3,995
3,347
3,085
Days idle during month or year..
do...
'Revised.
»Preliminary.
1f Production and nonsupervisory workers.
QThe
indexes exclude effects of changes in the proportion of workers in high-wage and low-wage
industries, and the manufacturing index also excludes effects of fluctuations in overtime
premiums; see note " § , " p. S-15.
AEarnings in 1967 dollars reflect changes in purchasing




349
545
460
463
' 133
267
271
527
810
670
304
449
859
485
126
130
211
200
132
171
87
70
80
367
338
307
308
329
318
233
228
190
3,158
5,029
4,689
4,221
4,290
2,055
3,072
2,724
2,995
power since 1967 by dividing by Consumer Price Index; effective Feb. 1977
reflect new seas, factors for the CPI.
fSee corresponding note on p. S-14.
Oct. 1, 1978: Common, $10.33; skilled, $13.68.
©Revisions for 1975 are in
'335
719

SURVEY.

494
435
785
774
160
176
603
333
4,141
4,421
SURVEY, data
cfWages as of
the July 1976

October 1978

SUJ:IVEY

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

OF (JUK REN' r BU S1JNH

S-17

1977

1977

Annual

Aug.

Sept.

Oct.

1978
Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

2,297

2,581

2,394

*2,063

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly §9
thous..
State programs (excl. extended duration prov.)
Initial claims
thous..
Insured unemployment, avg. weekly.._do
Percent of covered employment: A
Unadjusted
Seasonally adjusted
Beneficiaries, average weekly
thous.
Benefitspaid I
mil. $..
Federal employees, insured unemployment,
average weekly
thous.
Veterans' program (UCX):
Initial claims
do
Insured unemployment, avg. weekly.._do
Beneficiaries, average weekly
do
Benefits paid
mil. $ Railroad program:
Applications
thous.
Insured unemployment, avg. weekly...do
Benefits paid
mil. $..

3,846

3,304

2,751

2,643

2,649

2,853

3,226

3,780

3,638

3,212

2,659

20,065
2,991

19,488
2,647

1,467
2,322

1,229
2,089

1,350
2,071

1,582
2,274

2,010
2,644

2,272
3,191

1,692
3,273

1,442
2,901

4.6

3.9

3.4
4.1
1,933
671.3

3.1
4.1
1,693
565.2

3.0
4.0
1,613
584.2

3.3
3.9
' 1,741
599.5

3.9
3.7
2,011
703.0

4.6
3.6
2,520
910.2

4.2
4.7
3.5
3.6
2,753 2,615
919.2 1,002.0

1,211
2,379
3.4
3.1
2,140
• 704. 6

38

40

41

42

46

42

38

32

29

31

26
67
64
24.7

27
68
66
25.6

25
69

71
26.0

23
69
65
22.6

23
59
60
24.5

18
52
55
'19.7

20
47
47
19.2

23
45
46
18.2

12
25
9.7

13
40
13.1

12
41
16.9

7
35
18.4

3
22
10.4

2
13
5.3

11
5.9

26,714
71,900
55,892
10,201
45, 691
16, 008

2,450
8,974.5

2,178
B, 773.0

50

46

401
98

98
593.0

354
80
78
341.5

34
74
72
28.2

65
25.0

28
67
64
23.1

115
27
134.8

104
21
99.8

13
18
5.9

10
20
5.5

7
20
7.4

69

1,229
2,051

1,349 '1,680 P 1,381
• 1, 962 2,265
2,168

2.9
3.1
1,724
638.9

2.8
3.2
3.0
3.1
3.4
3.6
' 1, 653 '1,680 p 1,811
•579.0 ' 557.8 p 659.2

»2.6

31

32

31

24
49
'46
17.8

50
54
22.7

16
16
3.9

28
33
1.6

28,289
72,884
56,277
9,830
46,447
16,607

73,809
56,633
10,258
46,375
17,176

73,273
56,236
10,511
45, 725
17,037

p 1,859

FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $..
Commercial and financial co. paper, total-.do
Financial companies
do
Dealer placed
do
Directly placed
do
Nonfinancial companies
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
Bank debits to demand deposit accounts, except
interbank and U.S. Government accounts,
annual rates, seasonally adjusted:
Total (233SMSA's)O
bil. $..
New York SMSA
,
do....
Total 232 SMSA's (except N.Y.)
do..
6 other leading SMSA'si
do.
226 other SMSA's
'
do.
Federal Reserve banks, condition, end of period:
Assets, total 9
mil. $

25,654 23,091
63, 878 59,397
49, 223 44,886
7,854
8,926
40, 297 37,032
14, 655 14,511

23,317
59,952
44,815
8,094
36, 721
15,137

23,908
63,924
48,151
8,784
39,367
15,773

24,088
63,927
48,361
8,806
39,555
15, 566

25.654
63,878
49, 223
8,926
40, 297
14.655

25, 252
66,500
50,961
9,409
41,552
15,539

25,411
67,015
51,684
9,340
42,344
15,331

26,181
67,093
51,440
8,972
42,468
15,653

26. 256
70,700
53; 983
9,693
44,290
16,717

36,740

41,713

40,889

41,112

41,442

41,600

41,713

42,179

42,663

43,632

44,329

44, 666

44,926

45, 201

45,614

19,127
4,931
12,682

22,139
5,600
13,974

21,302
4,914
14,673

21,524
4,953
14,635

21,714
5,407
14,321

21,923
5,696
13,981

22,139
5,600
13,974

22,581
6,277
13,806

22,927
6,800
13,905

23,185
6,939
14,205

23, 526
6,631
14,509

23,866
6,114
14,945

24,152
5,747
15,302

24,467
5,634
15,513

22,351
6,073
13, 755

133,540

139,889 134,425

139,288 128,999 133,591 L39,889

134,925 134,500 136,643 141,394

107,718
25
97,021
11,598

116,303 109,302
1,265
265
102,819 98,436
11,718 11,595

115,972 106,794 109,729 .18,303
926
1,069
923
265
104,715 94,597 96, 477 02,819
11,595 11,595 11, 595 11,718

109,849 110,235 113,604 116,621 116.607 124,439 123,607 126,311 129,501
'954
1,127
1,363
1,167
1,750
1,428
758
332
304
07,004 98,450 101,577 .03,500 .02, 826 10,146 ,08, 885 111, 739 115,279
11,718 11,178 11,718 11,718 11,718 11,706 11,693 11,679 11,668

do.

133,540

139,889 134,425

139,288 128,999 133,591

134,925 134,500 136,643 141,394

do
do
do

38,016
25,158
85,590

Reserve bank credit outstanding, total 9 _do
Time loans
do.
U.S. Government securities
do.
Gold certificate account
do.
Liabilities, total 9

22,523
52,041
39, 710
7,294
32,416
12,331

141,977 148,127

146,137 '148,947 152,901

141,977 148,127

146,137 '148,947 152,901

35,591
28,262
87,506

40,928
23,953
87,361

30.379
22,841
88.380

30,042 35,550
26,345 26,870
91, 229 93,153

31,822
19, 301
90,159

30,805
26,047
90,703

33,697
27,900
91,66G

36,663
28,321
92,331

33,647
30,135
94, 570

40,595
27,920
95,345

39,910
28,461
95,571

All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $_. 135,136
Required
do... 134,964
Excess
do... _
1172
Borrowings from Federal Reserve banks.-.do...
162
Free reserves
do...
U22

i 36,471 35,186
36, 297 34,987
199
i 174
i 558 1,071
-771
i -330

35.156
34,965
191
634
-331

35,860
35,521
339
1,319

35,782
35, 647
135
840
-622

38,185
37, 880
305
481
-144

36,738
36,605
133
405
-220

36,231
35,925
306
344
9

36,880
36,816
64
539
-432

37,119
36,867
252
1,227
-882

37,262
37,125
137
1,111
-854

37,666 37,776
38,049 37,404 37,612
164
'262
140
1,147
1,067
1,286
-1,003 ' -697 -706

Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits:
Demand, adjustedcf
mil. $.

112,773

120,472

Deposits, total
Member-bank reserve balances
Federal Reserve notes in circulation

35,550
26,870
93,153

13,266 109,130

113,077 113,231

36,471
36,297
174
558
-330

40,773
27,705
96,534

44,256
26,656
96,572

20,472 114,743 112,191 112,769 112,127 113,822 113,522 116,955 114,813 113,870

Demand, total 9
Individuals, partnerships, and corp
State and local governments
U.S. Government.^
Domestic commercial banks

do...
do...
do...
do...
do...

181,528
130,575
6,041
1,620
27,383

200, 280 182,949 176,535
143, 553 130,848 125,685
6,320
5,748
6,346
1,013
5,352
3,744
29,275 26,607 25,178

182,852 189,514 200,280 188,226 191,501 177,269 188,146 206,908 187, 760 192,013 186,539 191,858
131,535 135,815 143,553 134,181 136,293 128,408 133,580 144,852 133,823 138,220 135,136 135,128
5,802
5,592
6,182
6,632
7,107
6,144
6,235
6,377
6,510
5,665
6,346
6,630
5,970
1,031
2,909
2,105
1,444
1,325
2,745
3,714
2,707
2,702
3,744
1,196
28,666
27,
563
27,540
28,213
27,983
29,172 24,482 26,886 35,975
27,714 29,389 29,275

Time, total 9
Individuals, partnerships, and corp.:
Savings
Other time

do.

231,416

252,424 239,513 241,749

243,106 246,723 252,424 252,425 254,902 260,621 261,462 265,176 266,884 267,169 270,102 272,480

do.
do.

89,473
107,545

92,461 93,598 93,405
121,400 112,131 113,712

!, 461 92,562 92,641 94,013 93,202 93,405 92,883 91,857 91,590 91,633
92,844 92,276
114,684 117,672 121,400 120,910 122,262 126,550 128,296 131,672 134,330 135,919 137,422 139,485

Loans (adjusted), total o"
Commercial and industrial
For purchasing or carrying secrrHies
To nonbank financial institutions
Real estate loans
Other loans

do_
do.
do.
do.
do.
do.

291,495
116,480
12,327
24,540
63,409
96,816

324, 557
125, 534
13,638
23, 904
74, 600
111, 547

Investments, total
U.S. Government securities, total
Notes and bonds
Other securities

do.
do.
do.
do.

111,452
50,076
36,825
61,376

113,934 111, 345 111,301
46, 111 46,485 45,713
37, 247 38,458 38,073
67, 823 64,860 65,588

305,789 303,936 310,908 318,767 324,557 322,039 323,040 325,163 332,251 339,652 341,669 345,594 348, 636 353,784
119,292 120,290 123.508 123,573 125,534 124,359 126,609 128,805 131,654 134,601 135,528 135,467 134, 981 136, 710
12,854 13,075 12,905 13,167 13.638 12,983 12,612 11,521 12,481 12, 296 12,335 12,172 12, 490 12,865
22,507 22,525 23,188 23,285 23,904 22,573 22.370 22,589 22,931 23,023 22,991 23,520 23,576 24,022
69,999 71,353 72,490 73,444 74,600 75,241 75,897 76,788 77,936 79,156 80,530 82,621 84,410 85,882
102,341 101,651 105,016 107,158 111,547 109,149 106,727 107, r 108,708 117,686 113,196 114,293 113,853 114,813
110.989 112,725 113,934 110,113 110,763 109,907 112,417 111,295 110, 263 110,097 110,888 112,020
44,816 45,659 46, 111 44,611 44,969 44,038 44,335 43,425 42, 742 42,847 42, 777 42,917
37,247 37,598
37,710 39,534 38,503 38,011 38,350 38,187 38,579
37, 212 37,
66,173 67,066 67,823 65,502 65,794 65, T " 68,082 67,870 67,521 67,250 68,111 69,103

r
l
Revised.
J» Preliminary.
Average for Dec.
§ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws;
amounts paid under these programs are excluded from State benefits paid data.
ATnsured
unemployment as % of average covered employment in a 12-month period.
9 Includes
data not shown separately.
d" For demand deposits, the term "adjusted" denotes demand
deposits other than domestic commercial bank and U.S. Government, less cash items in

275-875 O - 78 - S3




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).
©Total SMSA s include
some
designated as SMSA's.
H Includes Boston, Philadelphia,
some cities and counties not
•ncisco-Oakland, and Los Angeles-Long Beach.
Chicago, Detroit, San

SUKVEY OF CUKKENT BUSINESS

S-18
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

October 1978
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

874.3
622.4
92.5
159.4

881.9
625.4
97.5
159.0

888.8
633.5
98.5
158.8

904.8
645.0
98.4
161.4

917.9
657.9
97.1
162.9

922.4
661.2
98.4
162.8

935.2
672.0
99.7
163.5

939.2
677.2
97.0
165.0

947.1
684.4
96.3
166.4

FINANCE—Continued
BANKING-Continued
Commercial bank credit (last Wed. of mo., except
for June 30 and Dec. 31 call dates), seas adj.:t
Total loans and investmentsO
bil. $..
Loans©
_
...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
___do__.
7 southeast centers.__
_
do...
8 southwest centers
do__.
4 west coast centers
do
Discount rate (N.Y.F.R. Bank), end of year or
month
percent..

784.4
538.9
97.3
148.2

865.4
612.9
93.5
159.0

840.4
582.4
102.6
155.4

843.1
587.6
99.5
156.0

852.6
597.8
97.2
157.6

866.1
611.2
95.0
159.9

865.4
612.9
93.5
159.0

r
.52
7.12
7.

7.74
7.54
7.80
5.25

6.00

5.27

5.75

5.80

6.00

6.00

6.37

6.50

6.50

6.50

6.84

7.00

7.23

7.43

17.35

16.93

3.78

6.89

6.95

7.08

7.26

7.34

7.48

7.64

7.76

7.86

7.94

8.05

8.18

percentdo._.

18.76
18.92

'8.80
18.83

8.81
8.86

8.82

8.84
8.88

8.85
8.89

8.87
8.93

8.95

8.96
8.99

9.03
9.04

9.07
9.14

9.14
9.17

9.23
9.27

9.34
9.41

9.45
9.55

9.50
9.62

Open market rates, New York City:
Bankers' acceptances (prime, 90 days).__do_-.
Commercial paper (prime, 4-6months)..do...
Finance co. paper placed directly, 3-6 mo-do...

»5.19
'5.35
'5.22

22 5.59
5.60
2
5.49

5.88
5.84
5.71

6.16
6.17
6.04

6.57
6.55
6.41

6.58
6.59
6.49

6.60
6.64
6.52

6.86
6.79
6.69

6.82
6.80
6.74

6.79
6.80
6.73

6.92
6.86
6.74

7.32
7.11
6.98

7.75
7.63
7.41

8.02
7.91
7.66

7.98
7.90
7.65

8.54
8.44
8.18

' 4.989
3 6.94

2 5.265
2 6.85

5.500
6.90

5.770
6.92

6.188
7.23

6.160
7.28

6.063
7.40

6.448
7.71

6.457
7.76

6.319
7.76

6.306
7.90

6.430
8.10

6.707
8.31

7.074
8.54

7.036
8.31

7.836
8.38

193,328
4,841
6,736

225,645
72,887
5,244
8,066

21,314
7,035
540
856

19,298
6,178
454
740

18,784
5,898
464
696

19, 721 21,432
5,924 5,635
379
442
595
701

16,718
5,031
329
452

16,688
5,469
343
558

21,976
7,541
518
785

21,339
7,175
506
761

24,000 25,032
8,297 8,608
537
536
918
950

22,424
7,529
558

25,144
8,371
614
1,000

25,862
4,783

31,761
5,886

2,934
555

2,937
513

2,818
475

3,811

3,121
563

2,897
589

3,165
644

3,546

3,300
585

3,825
694

do...
do
do
do

172,795
52,750
4,691
5,151

194,555
59,652
4,802
6,098

16,927
5,312
440
553

16,361
4,998
386
536

16,937
5,260
415
525

16, 788 16,932
5,013 5,040
365
372
521
526

17,365
5,006
365
501

2, 533 3,023
478
586
16,321 19,067
4,860 5,860
348
431
494
590

17,803
5,353
411
550

19,172
5,830
472
602

19,176
5,789
450
606

18,632
4,898
429
580

19,808
6,088
475
627

do...
do...

24,012
4,552

28,851
5,202

2,461
441

2,513
418

2,640
429

2,693
575

3,053
582

3,074
609

2,940
537

3,254
561

do...
do...
do...
do._.

19,204
6, 158
479
733

19,164
6,109
424
679

19,787
6,083
457
718

do...
do...

2,711
510

2,847
485

2,973
487

do..
do..
do..
do..

16,553
5,104
424
551

16,814
5,005
392
536

17,160
5,234
413
517

do..
do..

2,396
450

2,567
436

2,687
430

Federal intermediate credit bank loans

do.

Home mortgage rates (conventional 1st mortNew home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)

Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent.
3-5 year issues
do._.
CONSUMER CREDIT!
(Short- and Intermediate-term)
Installment credit extended and liquidated:
Unadjusted:
Extended, total9
mil. {
Automobile paper
do..
Mobile home
_
do_.
Home improvement
_
do..
Revolving:
Bank credit card
do..
Bank check credit
_
do..
Liquidated, total9
Automobile paper
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit
Seasonally adjusted:
Extended, total 9
Automobile paper
Mobilehome
Home improvement
Revolving:
Bank credit card
Bank check credit
Liquidated, total 9
Automobile paper__
Mobile home
Home improvement
Revolving:
Bank credit card
Bank check credit

Total installment credit outstanding, end of year or
month.
mil. $.. 185,489 216,572 204,358 207,294 209,141
By credit type:
66,116
Automobile
79,352 76,027 77,207 77,845
do
Mobile home
do
14,572
15,014 14,812 14,880 14,929
Home improvement
do
12,952 12,329 12,532 12, 703
10,990
Revolving:
Bank credit card
do
11,351
14,262 12,227 12.651 12,829
Bank check credit
do
3,504 3,551
3,041
3,724 3,409
All other
. . .
.
do
91,269 85,554 86,519 87,283
79,418
By holder:
Commercial banks...
d o . . . . 89,511 105,291 100,059 101,564 102,504
Finance companies. _
_.
. . . d o . . . . 38,639 44,015 41,987 42,333 42,704
Credit unions . .
do
37,036 35,077 35,779 35,993
30,546
Retailers
d o . . . . 19,052 21,082 18,475 18,725 18,961
Others.
do..
8,894 8,978
8,760
7,741
9,149
r
l
2
Revised.
p Preliminary.
Average for year.
Daily average.
©Adjusted to
e xclude interbank loans.
§ For bond yields, see p. S-21.
t Beginning Jan. 1959, monthly
data have been revised to reflect new seasonal factors and adjustment to bench marks for the
latest call date (Dec. 31, 1975). Revisions are available from the Federal Reserve Board.
Washington, D.C. 20551.
J Data have been revised back to 1970, noninstallment credit




2,878

2,612
447

2, 645
466

19, 680 20,138
6,330 6,721
464
460
761
722
2,828
492

3,014
511

19,586 20,179
6,263 6,400
400
449
710
618

2,973
531

2,948
556

16, 826 17,402
5,089 5,424
390
384
550
549

17,162
5,078

2,585
466

2,723
485

2,729
435

491

3,053
561

21,595 22,117
6,822 7,248
508
502
753
770

22.336 22,680
7,387 7,241
460
490
801

22, 332 22,632
7,399
7,156
546
517
850
736

3,231

3,255
646

3,245
677

3,482
694

3,466
599

3,499
625

17,518 17,527
5, 296 5,300
383
394
539
553

18,398
5,520
413
541

18,479
5,598
432
576

18,888
5,698
445
592

19,031
5,636
413
580

19,646
5,953
459
621

2,944
590

2,982
548

3,120
604

3,068
572

3,219
581

3,143
535

2,858
448

2,783

212,074 216,572 215,925 216,297 219,203 222,737 227, 561 233,416 237,197 242,538
78, 757 79,352 79,376 79,984 81,666 83,490 85, 954 88,767 90,671 92,956
14,999 15,014 14,978 14,973 • 15,062 15,156 15,220 15,309 15,438 15,577
12,879 12,952 12,904 12,968 13,162 13,375 13, 691 14,037 14,260 14,633
13, 096 14,262
3,724
3,601
91,269

14,369
3,776
90,522

14,174
3,822
90,376

14,142
3,844
91,327

14,345
3,856
92,515

14, 456 14,929
3,996
3,919
94, 321 96,378

15, 288 15,857
4,043 4,178
97,497 99,337

103, 469 105,291 105,466 105,663 107,166 109,336 111, 673 114,756 117,110 119,889
43, 322 44,015 43,970 44,107 44,486 45,182 46,136 47,147 47, 967 48,982
36,488 37,036 36,851 37,217 38,185 38,750 39, 951 41,388 41,802 42,931
19, 629 21,082 20,525 20,060 19,920 19,941 20,141 20,310 20,432 20,655
9,886 10,081
9,114
9,250 9,446 9,528 9,660 9,815
9,166
9,149
is no longer available on a monthly basis. "Personal loans" and "other consumer goods
paper" have been combined to form an "all other" category. Earlier monthly data are
available from the Federal Reserve Board, Washington, D.C. 20551.
H Beginning Jan.
1973, data have been revised; revisions for Jan. 1973-April 1975 will be shown later.
9 Includes data for items not shown separately.

October 1978

VEY OF CUKKENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S S T A T I S T I C S

1977

1976

S-19

1977

Annual

Sept.

Aug.

1978

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

FINANCE—Continued
I

FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit (—)

299,197
365,648
1-66,451

356,861 29,676
1401,902 34,720
' - 4 5 , 0 4 0 -5,044

do.
do.
do.

»66,451
1
82, 913
—16,462

145, 040
\ 53,516
1,-8,476

do.

'•1631,866
'1480,300

mil. J
— do.
do.

Budget financing, total
Borrowing from the public
Reduction in cash balances
Gross amount of debt outstanding
Held by the public.

do.

Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $._
Individual income taxes (net).
do
Corporation income taxes (net)
do
Social insurance taxes and contributions (net)
mil. $..
Other
do

36,642 24,127 27, 596 32,794
35,097 38,790 36,864 37,646
1,545 -14,663 —9, 269 - 4 , 8 5 2

5,044 - 1 , 5 4 5
7,780 10,024
-2,736 - 1 1 , 5 6 9

14,663
1,851
12,812

9,269
8,854
415

4,852
9,971
-5,119

33,201
36,918
-3,717
3,717
6,027
-2,310

26,795 24,879 42,343 34,961
33,787 40,004 35,724 36,670
-6,992 -15,125 6,618 -1,709
6,992
5,108
1,884

15,125 -6,618
9,656 - 2 , 2 6 3
5,469 -4,355

709,138 695,485 709,138 707.693 18, 232 '29,164 731,821 '39,650 747,844
551,843 541,819 551,843 553.694 562, 548 572,519 578,546 583,654 593,310

47, 657 29,194
38, 602 36,426
9,055 - 7 , 232

1,708 - 9 , 055
-555
5,401
2,263 -14,456

7,232
3,195
4,037

'46,431 51,412
191,048 590,493

'58,804
.95,894

'60, 203

1299,197
1130,795
i 41,409

356,861
156,725
i 54,892

29,676
12,725
809

36,642
17,327
8,376

24,127
13,275
1,445

27, 596
13,171
920

32,794
13,941
9,212

33,201
20,217
1,991

26,795
10,620
1,013

24,879
5,258
8,023

42,343
18,883
8,850

34,961
14,293
1,183

47, 657
20,301
14, 655

29,194
14, 590
1,785

i 92,714
i 34,281

108,683
i 36,561

12,958
3,185

7,828
3,112

6,550
2,857

10,404
3,100

6,647
2,995

7,998
2,996

12,427
2,736

8,560
3,037

11,828
2,831

16,092
3,395

9,287
3,414

9,518
3,300

1365,648
i 12, 796
i 88,036

1401,902
i 16, 738
i 95,751

34, 720
1,674
7,851

35,097
1,471
8,094

38,790
1,773
7,992

36, 864
2,840
8,721

37,646
3,018
8,200

36,917
2,689
8,123

33,787
939
8,226

40,004
1,879
9,168

35,724
781
8,315

36,670
1,229
8,870

38, 602
819
8,854

36, 426
1,336
8,285

[

12,961
3,113
355
1,417

12,944
2,970
324
1,329

12,774
5,385
310
1,574

13,300
3,058
339
1,597

13,179
6,344
320
2,604

13,125
5,082
315
684

13,378
3,601
342
1,514

14,387
3,386
370
2,676

12, 756
5,647
316
556

13,826
3,657
361
1,751

14,142
6,837
329
2,432

13,122
5,180
324

Outlays, 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

i 128,785
143,527
i 3,670
i 18,415

Receipts and expenditures (national income and
product accounts basis), qtrly. totals seas. adj.
at annual rates :f
Federal Government receipts, totalf
bil. $..

331.4

374.4

374.3

385.5

396.2

424.7

Personal tax and nontax receipts
do
Corporate profit tax accruals
do
Indirect business tax and nontax accruals.do
Contributions for social insurance
do.

146.8
54.8
23.4
106.4

169.4
61.3
25.0
118.7

167.6
62.0
25.4
119.3

174.8
62.9
25.6
122.2

176.8
59.6
26.5
133.3

186.7
72.6
27.
137.6

199.1

385.2

422.6

430.7

444.1

448.8

448.3

446.1

129.9
86.8

145.1
94.3

146.8
94.4

152.2
97.1

151.5
97.9

147.2

156.1
100.2

161.6
61.1

172.7
67.4
29.1

175.7
70.9
28.9

178.3
71.1
30.7

180.2
73.9
33.2

180.7
75.9
34.6

188.9
77.7

8.3

8.4

11.8

10.0

10.0

7.5

.0

.0

.2

-52.6

-23.6

Federal Government expenditures, totalf__do
Purchases of goods and services
National defense

do.
_

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..do
Surplus or deficit ( - ) . .

do

26.8
5.8
.0
-53.8

147,455
i 49,560
i 3,944
118,019

.0

0

.0

-56.4

-48.1

-58.6

28.2
139.9

LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
Government securities
_
Corporate securities
Mortgage loans, total
Nonfarm

321.55
20.26
154.93
91.55
84.13

351. 72
23.56
171. 65
96.85
88.01

339.97
22.08
167.47
93.41
85.08

342.44
22.68
168.22
94.17
85.70

344.95
22.88
169.56
94.78
86.21

348.77
23.52
171.22
95.20
86.55

351.72
23.56
171.65
96.85
88.01

354.02
23.88
173.70
97.15
88.26

356.27
24.09
175.15
97.48
88.47

359.11
24.03
176.98
98.02
:
88.82

363.27
23.88
180.37
98.58
89.21

366.94
24.27
182.34
99.19
89.67

369.88
24.20
183. 70
100. 04
90.34

374.42
24.38
187.18
100. 60
90.78

10.48
25.83
2.00
16.50

11.06
27.56
2.13
18.92

10.88
27.00
1.45
17.67

10.86
27.14
1.46
17.91

10.94
27.28
1.25
18.26

11.01
27.41
1.53
18.88

11.06
27.56
2.13
18.92

11.14
27.69
1.64
18.82

11.22
27.84
1.46
19.03

11.21
28.02
1.57
19.27

11.27
28.25
1.48
19.44

11.54
28.43
1.54
19.62

11.54
28.65
1.48
20.27

11.56
28.84
1.42
20.44

Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value, estimated total
mil. $._ 324,849
213,784
Ordinary (incl. mass-marketed ord.)_..do
104,683
Group.
do.
6,382
Industrial..
._
do.

367,335
242,842
117,960
6,533

30,642
20,693
9,436
513

34,001
19,960
13,513
528

30,185
21,016
8,591
578

31,722
21,611
9,593
518

44,049
25,282
18,281
485

26, 063
17, 755
7,862
445

26,603
18,893
7,264
446

35,877
23, 952
11, 351
574

31,562
22,359
8,634
569

33, 589
24,147
8,876

37,057
24,034
12,475
548

28,579
20, 691
7,399
490

32, 529
23, 610
8,399
520

Gold and silver:
Gold:
Monetary stock, U.S. (end of period)..-mil. $._
11,598
11,719
Net release from earmark§
...do
331
426
Exports
thous. $ . . 347,516 1,042,625
Imports..
...do.
331,017 674,026

11,595
62
96,536
42,507

11,595
11,595
44
85
7,456 263,126
88,226 43,052

11,595
116
41, 553
182,659

11,718 11,718 11,718
41
-9
8
26,092 36,552 188,866
32,347 138,032 90,620

11,718
19
32,674
49,529

11, 706
47
23,118
82. 745

11,693
26
40,906
32,994

11, 679
22
29,538
71,754

82.8
6.2

80.2
5.8

78.5
6.0

81.1

7,936 13,665
10,735
82,384 210,902 164,590
5.118
5.273
4.936

5,758
29,915
5.121

6,194
33,206
5.316

6,079
32,209
5.331

12,468
33,105

1,634

1,911

1,802

1,526

1,434

Real estate
Policy loans and premium notes
Cash
Other assets
_

bil. $ . .
do
do
do
do
do.
do.
do.
do..

MONETARY STATISTICS

Production :1[
South Africa
Canada. __
Silver:
Exports
_
Imports..
Price at New York
Production:
United States
r

mil.!
do.

962.4
65.2

2 951.6
2 73.7

83.2
5.8

84.4
5.5

10. 2

80.2
6.2

thous. $ . . 61,434
..do
2325,252
dol. perfineoz_.
4.353

84,645
354,818
4.623

7,824
31,290
4.444

10,688
31,776
4.539

4,565
26,395
4.763

454
32,698
4.828

26,708

27,519

2,267

1,982

1,481

3,280

thous. fine oz

Revised.
v Preliminary.
1 Data shown in 1976 and 1977 annual columns are for
fiscal years ending June 30 and Sept. 30 respectively; they include revisions not distributed
2
to months.
Reported annual total; revisions not distributed to the months.
9 Includes
data for items not shown separately.




11,719 11,718
262
-116
78, 272 195,119
75,585
59, 317
73.0
6.2

76.0
5.8

8,798
14,666
25,587 136,446
4.409
4.706
4,286

1,219

76.4
5.5

1,893

80.6
6.4

2,536

82.!

2,456

jData have been revised back to 1946 (see table 3.2 in the Jan. 1976 and July 1978 SURVEYS
§Or increase in earmarked gold (-').
Walued at $38 per fine ounce from Jan. 1972-Sept.
c
1973; at $42.22 thereafter.
Corrected.

S-20

SURVEY OF CURRENT BUSINESS
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1978

1977

1977

Annual

October 1978

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May-

June

July

Aug.

Sept.

FINANCE—Continued
MONETARY STATISTICS—Continued
Currency in circulation (end of period)

bil. $..

Money supply and related data (avg. of daily
Unadjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjusted!!
U.S. Government demand deposits^!

fig.): ©

Adjusted for seasonal variation:
Total money supply
Currency outside banks
Demand deposits
Time deposits adjustedH.. _

93.7

103.8

bil. $_. ' 305. 1
77.8
do
' 227.4
do
467.8
do
4.1
do

' 327. 4
84.8
' 242.6
517.1
4.2

...do
do
do
do

98.9

101.9

103.8

100.8

101.4

102.4

103.1

105.4

106.3

106.6

107.6

328.2 331.1
86.2
95.9
• 242.3 244.9
523.0 525.7
5.0
3.4

335.2
86.9
248.2
531.9
3.7

338.4
88.4
250.0
536.0
3.5

348.2
90.1
258.1
542.6
5.1

347.5
88.7
258.8
549.5
4.3

335.9
89.0
247.0
554.9
4.3

338.2 '350.9
'89.9
91.0
248.2 ' 259.9
563.2 ' 567.1
5.0
'4.8

345.3
'91.9
253.3
572.9
'4.0

351.7
'92.9
258.8
576.6
'6.2

356.0
'94.1
262.0
579.9
'4.5

354.2
'94.3
259.9
584.6
'3.6

358.9
95.0
263.8
589.8
6.2

333.0
86.3
246.6
525.9

335.9
87.1
248.7
531.9

336.2
87.7
248.5
540.1

338.5
88.6
249.9
545.0

341.7
89.4
252.2
550.6

341.8
90.1
251. 7
556. 7

342.9
90.7
252.3
561.7

350.6
'92.1
258.5
571.6

352.8
'92.8
259.9
574.5

354.2
'93.3
260.9
579.4

356.7
94.0
262.8
583.0

360.9
95.2
265.7
589.6

330.5
85.5
245.0
521.9

Turnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted:
Total (233 SMSA's)©..ratio of debits to deposits.
New York SMSA
do.
Total 232 SMSA's (except N.Y.)
6 other leading SMSA'sd*
_
226 other SMSA's
_

97.8

97.9

348.5
'91.2
257.3
565.2

143.9
391.9

._.do.
...do.
do..

90.7
129.4
75.7

PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
Food and kindred products
_._do
Textile mill products
_do
Paper and allied products
do
Chemicals and allied products
.do

232
618
1,999

18,390
1,455
268
580
1,900

16,064
1,236
225
563
2,020

22,375
1,707
343
719
2,392

3,102
559
157
-243

2,972
455
140
365

2,549
246
191
161

3,152
655
376
791

64,519
5,826
809
2,270
7,610

70,366
5,575
828
2,367
8,060

16,714

Petroleum and coal products..
.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. $_.

11,725
1,447
913
2,085

12,179
1,686
873
864

3,196

3,458

868

862

720

1,167

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

7,889
4,073

9,131
5,383

2,257
1,332

2,510
1,562

2,067
1,387

3,029
1,710

1,687
5,099
9,890

1,989
6,133
11, 840

506
941
3,003

1,525
3,328

498
1,471
2,730

2,014
3,627

22,763

26,585

6,197

7,844

6,392

6,957

Dividends paid (cash), all industries

do

SECURITIES ISSUED
Securities and Exchange Commission:!
Estimated gross proceeds, total
By type of security:
Bonds and notes, corporate
Common stock
Preferred stock
By type of issuer:
Corporate, total9
Manufacturing
Extractive (mining)
Public utility

57,801

53,618

3,336

4,203

3,863

5,019

6,385

3,074

2,409

5,642

3,458

4,889

5,274

do...

41,182

37,532

2,615

2,972

2,, 373

2,696

4,850

2,314

1,821

3,872

2,434

3,157

3,598

...do...
do...

8,304
2,803

8,034
3,392

379
178

279
347

823
299

1,556
339

596
445

462
171

388
138

674
148

239
235

649
390

819
586

..mil. $..
do.
do.
do.

52,290
15,493
1,762
14,415

48,958
12,225
2,589
13,199

3,172
966
296
497

3,598
551
156
1,417

3,494
705
463
1,102

4,591
744
207
1,714

5,891
1,994
1,67
1,030

2,947
273
328
644

2,347
716
99
465

4,694
1,229
187
1,258

2,908
549
142
618

4,196
878
100
1,885

5,003
1,471
334
1,244

3,626
3,562
10,283

1,641
4,353
11,565

195
45
1,092

60
322
717

65

126
1,010
630

253
232
1,570

70
519
1,023

41
34
912

113
291
1,311

252
35
931

216
0
811

209
349
1,017

33, 845
21, 905

45,060
21,349

3,997
1,398

3,787
2,223

3,635
1,101

3,142
1,339

3,506
1,049

3,192
1,171

2,664
1,521

4,387
1,556

3,489
4,915

5,146
985

4,122
1,870

10,680
9,859
822

10, 866 10,690
9,993 9,839
851
873

10,901
10,024
877

11,027
10,172
855

11,424
10,510
914

10,910

11,332

mil. $.

Transportation
Communication
Financial and real estate
State and municipal issues (Bond Buyer):
Long-term
Short-term

.do
.do
do
do....
do

1

3,685
1,598

•6,006
• 1,760

2,011
1,899

SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers and banks, end of month
10,866 10,592 10,617 10,583
9,011
or year, total
mil. $..
9,993 9,763
8,166
9, 793 9,756
At brokers
do
827
873
829
845
824
At banks
...do
Free credit balances at brokers:
615
600
640
605
585
Margin accounts
do
1,745
1,850
2,060
1,745
1,855
Cash accounts
do
' Revised.
*> Preliminary.
i Beginning Jan. 1973, does not include noncorporate
bonds and notes formerly included.
eEffective February 1976 SURVEY, data revised
to reflect: Annual review of seasonal factors; regular benchmark adjustment; effect of
changes in check collection procedures (Regulation J); and adjustments to include new figures from internationally oriented banking institutions. Monthly revisions back to 1970
are in the Feb. 1976 Federal Reserve Bulletin.




700
660
755
715
630
635
630
640
1,795
2,170 2,395 2,300
2,060 1,925
1,845
1,875
ITAt all commercial banks.
©Total SMSA's include some cities and counties not designated as SMSA's.
cTIncludes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, and Los
Angeles-Long Beach.
§ Data revised back to 1973; no monthly revisions for 1973-75 are
available.
9 Includes data not shown separately.

SUEVEY OF CURKENT BUSINESS

October 1978
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

Annual

S-21
1978

1977
Sept.

Aug.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May-

June

July

Aug.

Sept.

FINANCE—Continued
SECURITY MARKETS—Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite d"
dol. per $100 b o n d . .
Domestic municipal (15 bonds)
do
U.S. Treasury bonds, taxable^

58.0
72.5

59.6
81.3

60.1
82.4

60.4
83.3

59.5
81.2

59.2
83.2

58.4
81.7

57.2
80.9

56.9
81.8

57.0
82.0

56.3
79.8

55.5
77.2

55.2
75.7

54.5
75.2

56.1
77.0

56.1
77.6

56.89

57.30

57.77

56.68

56.24

55.62

53.74

53.09

52.90

52.15

51.34

50.91

49.97

51.32

51.67

,262.11 4,646.35

391.43

335.65

335.80

353.57

400.87

372.15

283.80

378.68

408.75

451.17

410. 47

348.52

459.78

393. 73

8.31

8.42

8.48

8.54

8.74

8.78

8.80

8.88

9.02

9.13

9.22

9.08

9.04

8.19
8.40
8.57
8.99

8.41
8.59
8.76
9.17

8.47
8.65
8.79
9.20

8.47
8.66
8.83
9.22

8.56
8.73
8.93
9.32

8.69
8.84
9.05
9.49

8.76
8.95
9.18
9.60

8.88
9.07
9.33
9.60

8.69
8.96
9.18
9.48

8.69
8.92
9.11
9.42

do

Sales:
Total, excl. U.S. Government bonds (SEC):
All registered exchanges:
Market value
mil. $ . .
Face value
do

58.96

(O
New York Stock Exchange:
Market value
Face value

do
...do

New York Stock Exchange, exclusive of some
stopped sales, face value, total
.
. mil. $
Yields:
Domestic corporate (Moody's)§
By rating:
Aaa .
Aa .
A
Baa .
By group:
Industrials
Public utilities
Railroads

.

percent..

9.01

8.43

8.34

do
do
do
do

8.43
8.75
9.09
9.75

8.02
8.24
8.49
8.97

7.98
8.17
8.40
8.82

7.92
8.15
8.37
8.80

8.04
8.26
8.48
8.89

8.08
8.34
8.56
8.95

8.84
9.17
8.85

8.28
8.58
8.13

8.21
8.47
8.05

8.19
8.43
8.03

8.27
8.56
8.07

8.36
8.61
8.10

8.42
8.65
8.10

8.60
8.87
8.20

8.65
8.90
8.32

8.66
8.93
8.41

8.72
9.05
8.49

8.84
9.19
8.60

8.92
9.33
8.68

9.05
9.38
8.70

8.95
9.21
8.72

8.90
9.17
8.68

6.56
6.49

5.67
5.56

5.54
5.46

5.51
5.37

5.55
5.53

5.47
5.38

5.66
5.48

5.63
5.60

5.63
5.51

5.69
5.49

5.89
5.71

6.19
5.97

6.29
6.13

6.12
6.18

6.16
5.98

6.09
5.93

7.06

7.00

6.94

7.08

7.14

7.23

7.50

7.60

7.63

7.74

7.87

7.94

8.09

7.87

7.82

..

do
do
do .

Domestic municipal:
Bond Buyer (20 bonds)
.
do
Standard & Poor's Corp. (15 bonds)__<___do
U.S. Treasury bonds, taxable O—

do

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

6.78

0)
0)

Price per share, end of mo., composite.
Industrials
Public utilities
Railroads

do
do
do
do

Yields, composite
Industrials
Public utilities
Railroads
N.Y. banks..
Property and casualty insurance cos

percent
do
do
do
do...
do

.

Earnings per share (indust., qrtly. at ann. rate;
pub. util. and RR.,for 12 mo. ending each qtr.):
Industrials
dollars
Public utilities.
do...
Railroads_
do...

0)

0)

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)

7.98

7.61

7.55

7.58

7.62

7.67

7.85

7.92

7.99

8.07

8.06

8.11

8.31

8.42

8.26

8.24

303.91
974.92
92.28
214.03

301.70
894.62
110.96
225.16

296. 79
872. 26
113. 34
219. 46

291.30
853.30
112.37
215.34

283.38
823.96
111.76
209.30

284.77
828.51
110.85
212. 22

283.84
818.80
111.45
214.02

273.04
781. 09
106. 97
209.90

267.80
763.57
104.32
208.14

265.75
756.24
105.48
204.50

276. 65
794. 66
105.85
214. 50

288.45
838.56
104.85
225.96

288.53
840. 26
105.48
224.33

287.85
831.71
105.54
227.06

306.73
887.93
108.51
248.96

305.26
878. 64
106. 67
250.25

Standard & Poor's Corporation: d"
Combined index (500 Stocks)
1941-43=10.
Industrial, total (400 Stocks) 9 - -do...
Capital goods (111 Stocks)
do...
C o n s u m e r g o o d s (189 S t o c k s )
do...

102.01
114. 35
115.52
92.73

98.20
108.44
106.79
85.27

97.75
107. 50
105. 52
85.13

96.23
105.94
102. 76
85.20

93.74
103.18
99.79
83.15

94.28
103.71
100. 76
83.90

93.82
103.13
101.36
82.89

90.25
99.34
99.43
80.14

88.98
97.95
96.25
79.11

88.82
97.65
93.12
78.68

92.71
102.07
97.86
82.69

97.41
107.70
104.69
86.84

97.66
107.96
106.36
87.51

97.19
107.39
105.16
86.68

103.92
114. 99
115.19
92.45

103. 86
115.11
113.94
91.30

U t i l i t i e s (40 S t o c k s )
. . .
do .
Transportation (20 Stocks)*
1970=10.
Railroads (10 Stocks)
1941^3=10.
Financial (40 Stocks)*
1970=10.
New York City banks (6Stocks). 1941-43=10.
Banks outside N . Y . C . (10 Stocks)
do.
Property-Casualty Insurance (6 Stocks).do

48.16
14.17
45.87
11.46
52.14
97.96
105.01

54.23
14.06
49.94
11.63
47.34
98.23
112.42

55.42
13.74
49.19
11.95
48.39
99.68
114. 79

54.61
13.45
48.11
11.61
45.84
97.22
111. 00

54.26
12.97
46.23
11.09
42.36
94.40
106.53

54.46
13.23
46.44
11.25
42. 57
94.92
109.22

54.54
13.34
46.46
11.15
41.63
93.73
108.45

52.40
13.13
46.13
10.46
40.32
90.14
101.86

51.60
12.91
44.69
10.33
38.74
89.56
99.37

51.72
12.70
43.61
10.50
38.66
90.36
101.01

52.16
13.30
44.77
11.20
42.04
97.09
107. 52

51.71
14.01
46.05
11.87
45. 20
102.28
107.88

52.25
13.88
44.92
11.87
44.85
101. 70
10S. 43

52.32
14.00
43.97
11. 75
43.62
100.76
106.90

53.35
15.41
47.26
12.85
48.02
113.19
117.48

52.54
15. 46
48.19
12. 70
48.01
114.25
115. 04

1
'Revised.
No longer available.
§ Revised yields by rating for Jan. 1974-Nov. 1975
will be shown later,
cf Number of issues represents number currently used; the change in number does not




If Prices are derived from average yields on basis of an asaffect continuity of the series,
O For bonds due or callable in 10 years or more.
sumed 3 percent 20-year bond.
9 Includes data not shown separately.
* New series.

SURVEY OF CURRENT BUSINESS

S-22
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

October 1978
1978

1977
Sept.

Aug.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

54.61
59.35
44.74
39.28
57.97

58.53
64.07
49.45
40.20
63.28

58.58
64.23
50.19
39.82
63.22

541

865

672

FINANCE—Continued
SECURITY MARKETS—Continued
Stocks—Continued
Prices—Continued
New York Stock Exchange common stock indexes:
Composite..
12/31/65=50..
Industrial
_
do
Transportation
_
do
Utility
do....
Finance
do....

54.46
60.44
39.57
36.97
52.94

Sales:
Total on all registered exchanges (SEC):
Market value
mil. $_. i 194,969
Shares sold...
_.
millions.. 1 7,036
On New York Stock Exchange:
Market value
_
mil. $_. 164,545
Shares sold (cleared or settled)
millions.. 1 5,649
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)..
millions..
5,360
Shares listed, N.Y. Stock Exchange, end of period:
Market value, all listed shares
bil. $..
Number of shares listed
millions..

858. 30
24,500

53.69
57.86
41.08
40.92
55.25

53.51
57.30
41.04
41.50
56.52

52.66
56.41
39.99
40.93
55.33

51.37
54.99
38.33
40.38
53.24

51.87
55.62
39.30
40.33
54.04

51.83
55.55
39.75
40.36
53.85

49.89
53.45
39.15
39.09
50.91

49.41
52.80
38.90
39.02
50.60

49.50
52.77
38.95
39.26
51.44

51.75
55.48
41.19
39.69
55. 04

54.49
59.14
44.21
39.47
57.96

54.83
59.63
44.19
39.41
58.31

187,203
7,023

15,754
617

13,168
511

15,698
597

15,953
637

14,442
568

11,889
482

15,794
639

20,335
802

27,367
1,041

24,391
923

157, 250 13,411
507
5,613

13,673
509
11,378
404

17, 316 23,486
650

20,557
744

433

384

414

495

451

428

799.18 798.95
25, 733 25,875

766.20
25,913

793. 99
26,000

796.64
26,093

750.45
26,153

5,274
796.64
26,093

11, 343 13, 407
423
486

13, 376 12,334
462
504

9,990 13,289
387
510
369

696

737. 55 760.31
26,276 26,388

776

820. 76 829.63
26,411 26,588

671

818.95 864.13
26, 736 26,940

890.57 883.85
27,012 27,152

FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, totalcf
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
Asia...
Australia and Oceania.
Europe
Northern North America...
Southern North America
South America
_
By leading countries:
Africa:
Egypt.
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
_
Malaysia
_
Indonesia
Philippines
Japan

_

mil. $._ 115,339.9 121,212.3 8,987.1 10,371.1 9,557.4 9,692.6 11,399.9 29,366.9 9, 518.5 12,079.4 12,069.7 12,494.6 12,487.3 10,944. 7 11,621.8 12,714. 4
t78.9 12,:, 477.!3 10,>, 934.0 11,613.9 12,713.1
•115,149.8 121,150.4 8,984.1 10,367.5 9,554.8 9,690.2 11,396.1 29,364.4 9,514.6 12,074.2 12,064.2 12,478.
do
, 792.5 12,469.3 13,428. 9
9,683.2 11,038.6 9,357.4 9,477.9 10,999.0 J10,014.3 9,922.4 10.912.1 11,634.9 11, 753. 7 12,125.'
.do
do.
do.
do.
do.
do
...do
do
do.
do
do
..do
do
do
do..
do..
do.

582.7
529.3
518.9
372.1
415.8
413.4
541.6
430.0
378.6
5, 205.6 5,545. 6
29,728.5 31,428.9 2,413.1 2, 526.6 2, 246.8 2,423.4 3,277.8 2,463.4 2,578.5 3,366.1 3,174. 2
233.2
289.7
253.2
278.2
227.5
203.0
249.6
228.9
224.4
2,689.9 2, 876.5
35,900.6 36, 296.0 2,434.2 3,009.4 2, 586. 7 2, 755.3 3,557.5 3, 010.1 2,996.0 3,723. 9 3, 846. 8
24,111.0 25, 752.1 1,768.3 2,145. 2 2, 381.3 2, 222.7
809.2
767.2
737.3
755.2
8, 368.0 8, 660.5
672.1
818.9 1,021.1
779.7
8,595. 4 9,274.8
810.0
1,347.6

982.4
1,054.4

65.5
82.8

78.4
84.0

43.2
77.3

68.2
72.7

86.2
81.1

55.3
67.0

82.6
75.6

111.4
81.5

129.6
91.5

2,199.2
1,135.8
394.3
535.6

2, 375.6
778.6
292.7
560.7

210.3
46.3
16.5
45.2

233.2
48.7
14.8
49.0

196.2
62.3
21.2
79.7

163.4
74.0
17.7
40.9

244.2
92.4
9.3
53.6

191.2
72.7
17.2
49.6

172.8
90.1
47.0
52.4

209.8
75.9
72.9
59.7

193.0
75.8
46.8
54.8

1,034. 6
763.2
818.2
875.9
10,144.7 10,522.1

53.3
88.2
787.4

51.8
88.8
801.9

67.6
54.8
752.2

74.3
67.2
875.8

62.3
85.5
1,068.1

79.3
57.4
743.2

70.5
69.1
84.7
79.4
869.4 1,015. 9

57.6
76.6
969.9

245.6

321. 4

247.9

281.1

318.3

271.2

294.1

340.8

3.1

8.3

1.6

13.9

9.5

5.6

2.2

590.2

447.1

462.5

625.4

544.3

252.4
173.4
556.0

211.7
155.2
550.5

217.3
197.3
488.4

280. 6
241.7
635.1

299.2
308.3
791.2

Europe:
France
do
3,446. 3
German Democratic Republic (formerly E.
Germany)
mil. $_.
64.9
Federal Republic of Germany (formerly W.
Germany)
mil. $.. 5, 730.8
Italy
do.— 3.071.1
Union of Soviet Socialist Republics
do
2, 309. 6
United Kingdom
do
4.801.2
North and South America:
Latin American Republics, total?
Argentina.
_.
Brazil
Chile
Colombia.
Mexico
Venezuela
Exports of U.S. merchandise, totals
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total

do....
do
do
do
do
do
do—.
do
do
.do
_do

3.503.2
36.1

Crude materials, inedible, exc. fuels 9
Cotton, raw, excl. linters and waste
Soybeans, exc. canned or prepared
Metal ores, concentrates, and scrap

do

1.3

.3

5, 982.0

428.5

501.9

440.8

459.0

2, 787. 5
1,627.5
5,380.1

169.9
48.4
382.4

208.1
88.8
440.0

175.9
39.2
387.6

234.4
134.7
370.1

24,106.4 25, 748. 8 1,768.1 2,144.8 2,381.0 2, 222.5
15,487.4 16, 346. 5 1,419.4 1, 676.1 1, 305. 5 1,398.1
73.2
543.7
59.5
65.9
65.6
731.1
202.5
132.3
2,808.8 2.482.3
317.8
218.8
40.9
52.6
45.1
507.7
50.7
520.2
59.8
72.9
85.2
702.7
64.6
782.0
437.6
454.8
418.2
4,990.0 4,806.1
408.6
283.1
228.6
354.4
2, 627.8 3,170. 5 259.6
'113,666.0
113,475.9
22,997.6
90,320.9

119.005.5
118,943.7
23,671.0
94,291.8

By commodity groups and principal commodities:
Food and live animals 9
.mil. $.. 15, 710.1
14,115.7
7
Meats and preparations (incl. poultry).do
98. 0
796.9
Grains and cereal preparations
do
10,910.9 8,754.8
Beverages and tobacco

1,995.9 1,858.1 1, 945. 5 2,412.0 2, 451. 8
867.7
898.4
729.7
851.8
691.7
840.0
896.0
649.5
891.6
747.1

1,523.5

1,846.8

10,157.5
10,153.9
1, 733.8
8,414. 2

9,364.4
9,361.8
1, 705.1
7, 414.0

1,137.1 1,247.6
67.5
75.3
684.0
777.7

987.5
65.1
556.1

8,809.1
8,806.2
1,541. 6
7,167.0

155.6

201.8

67.3

9,522.8
9,520.4
2, 081. 5
7, 396.8

325.3

1,995.8 1,858. 0 1,945.1 2,411. 9 2,451. 8
1,593.3 1,304.4 1,263. 3 1,631.6 1, 562. 6
53.0
46.5
60.5
73.3
56.0
165.0
237.8
224.1
211.6
234.8
35.4
38.5
42.5
49.7
32.6
81.7
59.9
87.4
79.8
65.2
515.
2
425.
4
505.
0
490.5
379.3
214.7
336.0
301.5
316.7
256.9
11,201.5
11,197.7
2,323.9
'8,807.6

9, 216.6
9, 214.1
1,943.5
7,273.1

i, 341. 7
9,337.8
2,068.1
7,273.6

11,835.8
11,830.5
25.19.4
93.16.4

11,859.6 12,250.0 12,271.7 10,780.0 11,429.3 12,505. 7
11,854.1 12,234.3 12,261.7 10.769.4 11,421.4 12,504. 7
2, 508. 0
i, 351. 6

1,142.9 1,348.2 1,132.7 1,271. 5 1,465. 7 1,472.8 1,684.2
78.1
67.3
63.8
75.3
77.5
62.2
942.7
677.9
856.9
657.1
819.8
920.1
142.4

282.6

2 138.0

168.0

213.6

144.3

143.6

1,737.1 1,540. 6 1, 716.2 1,645.7

141.

161.6

213.3

176.9

992.5 1,083.4 1,111.9

do
10,890.7 13,086.3
720.5
822.7 1,042.7 1,131.5 1,179.6 21,049.8 1,063.4 1,337.5 1,388.6 1,466.5 1,353.9
do
1,048. 7 1,529. 5
203.8
182.8
157.6
145. 6
103.1
45.9
156.6
61.6
67.0
do
3, 315.4 4, 393. 2
431.5
513.3
323.0
334.2
448.1
520.0
133.4
113.6
355.3
do... 1, 284. 9 1,197. 0
112.5
149.9
105.9
104.5
82.2
111.5
84.8
d"
Data
may
not
equal
the
sum
of
the
geographic
regions, or commodity groups and prin••
Revised.
i
Annual
total
reflects
revisions
not
distributed
to
the
monthly
data.
2
Beginning Jan. 1978, data are based on a new classification system and include nonmonecipal commodities, because of revisions to the totals not reflected in the component items.
tary gold; the overall total and the commodity groups (but not the items within the groups)
9 Includes data not shown separately.
have been revised back to Jan. 1977 to reflect these changes.




OF CUK KEN1.

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

S-23
1978

1977

1977

Annual

ISlJNii

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

FOREIGN TRADE OF THE UNITED STATES—Continued

I

VALUE OF EXPORTS—Continued
E x p o r t s of U . S . merchandise—Continued
B y commodity groups a n d principal commodities—Continued
Mineral fuels, lubricants, etc. 9
m i l . $_. 4,225.8
Coal a n d related p r o d u c t s . .
.do
2,988.2
P e t r o l e u m a n d products
do
997.6
Oils a n d fats, animal a n d vegetable
do.
978.1
Chemicals-.
-do.
9,958.7
1,206.1
Manufactured goods 9 IF—
do
1,970.9
Textiles
do
1,906.8
Iron a n d steel
do
Nonferrous base metals__
do
"38.4
M a c h i n e r y a n d transport equipment,

total
mil. $ - . 9,501.2

4,183.6
2,730.4

333.7
206.7
109.2

401.8
259.7
134.1

367.0
259.0
92.3

362.1
243.4
103.9

315.3
181.0
118.0

188.9
52.8
115.8

165.2
24.5
119.4

284.5
134.7
137.6

363.6

, 275. 6

0,812.3
10,857.0
1,958.9
, 660.5
1.058.4

424.0

335.4

348.0

102.8

105.7

98.1

112.5

116.0

196.0

97.2

141.5

145.4

119.3

132.1

130.7

120.9

156.3

878.7

,064.9

737.2

736.0

,037.4

830.2

883.2

031.1

971.3

018.7

063.4

, 077.2

149.1

197.9

742.5
120.7
113.1
61.4

815.4
135.7
138.7
69.4

977.1
185. 5
136.7
103.3

829.9
142.7
113.0
59.5

848.4
140.6
120.2
72.5

067.7
173.4
136.0
84.6

,100.4

092.5

!9.5

024.7

140.0
133.7
80.2

,014.3
194.8
152.7
97.2

132.5

4,157.9 4,074.7 4,768.7

'3,852.0

941.9

i, 144.4 5,098.2

,, 599. 8

142.1

546.5
174.4
82.7
58.7
483.8
395.4
948.2

3,127. 9
224.5
112.4
59.3
587.7
1, 970. 3

1,308.7

50,247.6

3,622.4 4,303.4

31,290.8 12,516.6
107.7 1,871.1
730.3
4,945. 3 4.405.5
9,278.5 L0, 285.3
8,210. 4 8,520.0
^96.5
10,954.2

432.5
125.5
48.2
305.4
778.4
244.7
711.8

860.0
147.3
68.9
404.6
901.7
507.5
048.9

!,442.6
125.7
42.3
298.0
819.5
794.0
,119.5

644.2
135.7
41.9
320.8
878.5
501.5
015.4

064.7
159.3
73.8
404.7
971.2
787.3
995.8

465.2
132.8
86.3
61.1
467.0
386. 8
903.3

Machinery, total 9
Agricultural....
Metalworking
Construction, excav. and mining
Electrical
T r a n s p o r t equipment, total
Motor vehicles and parts

do.
do.
do.
do.
..do.
do
do.

Miscellaneous manufactured articles

do..

6,574. 9

3, 233. 9

651.3

744.4

670.7

692.9

741.8

665.6

..do..

2,749.4

4,313. 6

375.5

250.9

493.7

312.3

434.8

433.6

Commodities n o t classified

141.0
37.1
86.4

;, 289. 7
222.9
113.1
66.5
597.4
, 854.7
, 181.6
878.5

237.5

390.4

171.1
129.0
73.3

\, 132.2 », 075.2

; ,486.8

1, 203. 7
854.6
511.1

908.8

857.2

777.9

855.9

891.3

312.8

395.0

351.6

330.6

703.0

VALUE OF I M P O R T S
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:
Egypt
Republic of South Africa..
Asia; Australia and Oceania:
Australia, including New Guinea.
India
Pakistan
Malaysia
Indonesia
Philippines
Japan.

do
do

20, 677.6

do.
do.
do
do

12,644.0
39,366.8
1,671.2
23,645.6

...do.
do.
do.

382.5
593.1
179.5
631.8

, 466.8 1,264.3
[, 382.4 4,117.3
145.3
149.9
!, 389.1 2,229.2

26,246.8 !9, 375.4
9,348. 9 1,590.7
7,760.6 9,343.1

146.1
992.4
734.7

!, 487.5
S08.8
'90.3

92.5
924.8

170.0
1, 268.8

12.9
100.2

27.9
117.1

do
do.
do.
do.
do.
do.
do.

1,285.7
708.3
69.8
939.6
3,004.3
882.9
.5,504.2

1, 264.2
781.1
57.0
1,321.6
3,491.3
1,103.2
.8,622.7

127.1
64.3
4.2
143.6
272.4
99.0
763.3

117.2
67.2
3.7
113.1
296.7
120.2
, 624.2

2,508.8

3,030.7

298.4

250.3

13.6

16.7

1.3

2.2

5,592.0
2,529. 8
220.2
4,254. 3

7,215.3
3,037.5
234.4
5, 067.9

648.7
311.3
26.0
498.1

627.0
2S2.9
10.9
459.1

26,237.1 29,355.7

, 142.8

.6,335.3
383.3
2, 245. 9
260.8
821.6
4,684.
4,071.9

,304.1
37.3
182.2
18.5
35. 7
369.5
343.9

od_.

Latin American Republics, total 9
do...
Argentina..
...do...
Brazil
.do.
Chile
do...
Colombia
_
...do...
Mexico
_
do...
Venezuela
do...
By commodity groups and principal commodities:
Agricultural products, total
mil. $.
Nonagricultural products, total
do...
Food and live animals 9 . .
do...
Cocoa or cacao beans
do .
Coffee
..do...
Meats and preparations
...do...
Sugar
...do...
Beverages and tobacco.

.7,023.9
t 9,421.
1,719.6
!8,330.9

do.
do

Europe:
France
do
German Democratic Republic (formerly E.
Germany)
mil. $.
Federal Republic of Germany (formerly W.
Germany
mil. $
Italy.
do...
Union of Soviet Socialist Republics
do...
United Kingdom
do...
North and South America:
Canada

47,685.0 .2,044. i 12,452.4 12,497.5 2,270.1 13,372.0 2,717.7 3,286.4 .4,547.3
.2,101.4 12,941.6 12,586.9 12,406.6 .3,474.2 12,380.9 .4,440.2 .3,669.3

do...

C r u d e materials, inedible, exc. fuels 9 . . . d o . .
Metal ores
do..
P a p e r base stocks.
do
Textile
fibers
do..
Rubber.
...do..
Minerals fuels, lubricants, etc
Petroleum a n d p r o d u c t s .

do.
do.

Oils and fats, animal and vegetable
Chemicals

do.
do.

13,228.3
307.9
1, 736. 6
221.6
654.8
3, 598.1
3,574. 4

,268.9
26.3
141.2
18.5
51.1
322.5
411.3

494.8 1,476. 6 ,388.2 , 325.3
826.3 4, 503. 6 :, 234. 1 Cf 565. 8
215. 0
178.0
101.9
121.5
783.4 !, 759. 7 !, 875.1
029.4

409.8
702.6
174.9
443.1

407.2
924.2
209.6
285.3

!, 573. 5 !, 360. 3
990.0 , 047.1
764.4
806.2

, 806.2
067. 5
942.4

780.3
008.2
870.6

15.6
186.4

2.0
141.7

2,495.9 2,765.3
842.3
893.5
718.6
686.7

562.9
022.0
756.5

15.8
129.0

2.1
155.7

1.0
126.5

124.7
63.8
3.1
102.5
207.5
71.4
1,620.4 ,

86.4
79.2
3.1
109.6
250.3
91.3
559.1

155.3
66.1
5.3
130.8
283.3
119.1
, 807.1

96.8
63.6
5.3
86.4
209.9
81.7
, 784.4

281.3

223.4

301.3

361.8

.7

2.6

4.0

1.5

4.8

4.1

569.1
215.1
18.8
333.9

771.3
279.0
12.5
472.0

767.2
274.0
25 A
457.4

775.2
243.6
20.8
506.1

876.6
360.6
98.2
566.4

875.3
344.6
57.1
553.8

36.9
111.7

605.6
221.0
16.0
380.3
2,494.8

763.7 2,572.4 2, 360.2

1,210.8
35.0
155. 2
19.1
77.4
377.6
311.1

262.6
39.8
125.8
14.1
68.4
428.0
283.2

, 445. 8
43.2
223.6
33.6
86.1
451.0
252.7

,485.8
30.0
227.3
38.6
70.7
498.1
295.

136.2
73.1
3.4
96.6
290.4
90.4
, 842.4

128.5
152.4
110.5
90.8
6.0
7.2
141.6
121.6
312.9
338.5
86.6
95.4
103.7 2,181. 9
376.3

, 562.6 2,802.4 2,777. 6
41.6
199,5
35.2
89.1
446.6
249.4

,592.8
41.7
216.2
31.1
90.3
451.0
411.0

, 509. 3
49.7
231.6
56.0
66.3
460.9
343.7

803.1 1,309.1
19.9 1, 245.1 1, 405. 7 1, 346. 7
11,179.3 13,538. 3 1,019.! 1,013.3
$5.6
109,510.' 133,278.4 11,641.6 11,462.4 10,978.1 10,995.4 11,997.4 11,477.8 12,041.3 13,141.6 13,139.4
10,267.6 12,557.8
357.9
485.5
2, 632.3 3,86
1, 447. 0 1, 273.2
1,154. 0 1,079.1

37.9
215.1
112.9

873.7
25.3
177.5
111.4
108.4

812.9
36.1
152.7
82.8
89.4

901.
21.0
221.0
63.0
76.3

1,669.4

162.3

182.9

137.8

105.0

1, 623. 7
7,014.1
2,250.9
1,275.5
249.3
520.0

8,486.2
2, 234. 4
1,252.4
225.1
650.3

771.3
238.9
113.6
23.5
40.5

744.6
197.8
91.4
15.7
62.3

737.4
181.8
90.3
12.6
59.6

715.2
218.1
115.8
7.7
31.5

1,294.6 1,126.9 1,111.4 1, 257. 5 1,161.5 1,143. 4 1,045.
53.3
92.2
67.0
68.9
23.0
345.0
383.6
380.9
414.4
316. 0
171.0
148.4
124.6
157.5
107.6
14.5
43.6
32.4
185.4
52.2
159.8
781.2
205.0
95.
18.0
69.5

1138.1

162.4

174.7

201.5

189.2

212.7

i 650.4
183.6
95.0
20.4
41.

657.2
199.0
91.2
18.8
40.7

768.5
218.5
91.7
21.8
62.5

712.4
177.5
84.0
23.2
72.8

841.4

769.8

463.9
4,772.

530.7
4,970.^

52.6
421.8

41.7
436.4

29.6
349.1

39.0
311.6

1,869.3 1,763.0
557."
511.9
175.6
156.9
311.3
300.
118.8
139.

1,126.1

924.0

170.2

168.2

788.0

817.4

829.3

129.
'418.

3, 677.1 3,898.9
3, 502. 3 3,431. 2 3,513. 5 3,234.1 3,471.5 3,380.
3.241.3 3,194.2 3, 246.4
30.2
43.0
46.7
49.4
51.5
42.7
46.0
46.6
537.9
514.9
546.9
547.2
583.9
611.6
604.2
472.

2,117.6 11,982
493.
612.1
176.6
159.
377.4
404.
181.3
201.

2,215.4
2.195.4 2,334.1 2,383.0 2,359.3 2,301.0 2, 418. 3 2,218.6
666.5
593.9
669.4
177.2
177.1
152.
480.6
465.1
443.8
199.5
191.6
159.

1
33,999.6 44.537.2 3.651.4 3,720.5 3,634.9 3,702.9 3,153.0 3,422.
31,797.9 41,526.1 3,556.4 3,538. 6 3,172, 3 3,322.1 3, 223. 0 3,149.

17,621.9 21,367.1 1,863.5 1,888.7
Manufactured goods 9 If
do.
593.5
Iron and steel
do
528.2
4,347. 6 5, 804.4
Newsprint
._."""".do.
149.1
160.3
1,871."
1,742.
307.9
371.7
3,938.
3,506.3
Nonferrous metals
do
156.6
169.2
1,634.9 1,772. 4
Textiles.
."""".do,
'Revised,
i See note 2 for p . S-22.
9 Includes d a t a not shown separately.
U Manufactured goods—classified chiefly b y material.




14,486.0 14,199.2 4,514.5 4,703,9 L4,024.0 14,416.9
14,496.1 13,992.1 ,3,722.7 .4,779.3 L4,090.2 15,120.0

41.1
549.0

SURVEY OF CURRENT BUSINESS

S-24
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1976

Annual

October 1978
1978

1977
Aug.

Sept.

Oct.

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By commodity groups and principal commodities—Continued
Machinery and transport equipment
mil. $.. 29,824.7 36,406.8 2,761.3 2,995.9 3,301.5 3,190.1 3,643.1 «>3,392.7 3,573.2 4,050.7 4,085.5 4,020.4 4,132.9 4,108.2 3,578.5 3,832.0
15,184.5 17,663.8 1,534.7 1,531.2 1,505.9 1,399. 2 1,668.8 1,619.9 1,751.8 1,979.7 2,003.1
Machinery, total 9 . .
.
do
46.7
69.3
67.8
39.7
31.2
75.2
73.8
433.5
32.9
39.8
362.1
Metalworking
do
335.0
763.9
349.8
741.4
766.6
761.3
685.7
407.7
7,424.3 8,432.0
408.4
Electrical
do
Transport equipment
Automobiles and parts.
Miscellaneous manufactured articles
Commodities not classified

.

do
do

14,640.2 17,829.9 1,317. 9 1,343. 7 1,563.5 1,645. 5 1,766.3 1,772.7 1,821.4 2,071.0 2, 082. 3
13,104.0 15,842.0 1,118.3 1,193.8 1,387.9 1,480.9 1,535.4 '1,556.6 1,574.6 1,854.8 1, 854. 4

do

12,564.1 13,809.4

.do

1,231.2

1,257.4

1,341.1

1,118.9

1,305.4

2,537. 7

3,335.7

244.2

308.4

280.5

414.6

327.2

* 328.4

253.5

202.1
182.7
369.1

9 211.8
v 181.7
J>384.7

211.0
161.5
340.9

212,2
187.2
397.2

210.6
169.5
357.0

213.0
174.2
371.0

215.4
202.3
435.7

p 219. 9
p 164.1
p 360.8

*219.6
*162.8
P357.5

P
P

248.8
182.1
452.9

P 269.2
P204.2
v 549.8

273.3
207.6
567.4

273.4
204.7
559.5

272.6
194.7
530.8

275.5
192.5
530.3

271.1
220.6
598.0

P

275. 6
P207.2
p 571.0

283,070 ••274,413
64,712 r 65,376

21,624
4,880

24, 610
5,947

22,218
4,151

22,978
4,625

24,594
6,371

612,798
103,037

54,324
9,281

53,204
8,773

49,016
7,906

48,176
7,312

56,856
10,620

n,227.9 1, 293.7 1,511.1 1,439. 7 1,460.0 1, 651.5 1,782.5
369.2

334.8

316.0

335.2

327.0

219.4
211.1
P 463.3

p 223.0
P 208.2
v 464.2

p 224.0
p 213.9
v 479.0

p 232.2
P206.8
P408. 1

v 231.3
*>182. 3
P421.7

*282.5
P211.6
*597.8

p 288.1
p 227.0
P 653.8

P

288.1
v 226.3
P 651.9

P 287.2
v 222. 5
p 639.1

p 288.5
v 226.3
v 652.7

p 290.2
p 227.6
v 660.4

18,144
4,947

18,930
5,108

21,712
6,431

24,142
6,313

28,075
6,912

44,657
8,680

45,953
9,132

47,203
9,680

49,874
9,838

47,176
9,400

17.58
59.9
2,344

17.96
62.1
2,363

20.51
67.6
2,630

^22.48
^68.9

1,756.5 1,751.9
323.6

304.2

Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit v alue
1967 = 100
Quantity
do
Value
do
General imports:
Unit value,
do
Ouantitv
do
Value
- do. _.
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shinnine weieht
Value
General imports:
Shipping weight
Value

thous sh. tons
mil. $

thous. sh. tons.. 517,450
81,171
mil. $

r

TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor §
Ton-miles (revenue), totals

bil.
percent.
mil.

178.99
55.4
24,121

194.75
56.2
26,100

Operating revenues (quarterly) 9 O
Passenger revenues.
Cargo revenues
Mail revenues....
Operating expenses (quarterly)©
Net income after taxes (quarterly)O

mil. $.
do...
do
do...
do...
do...

17,503
14,266
1,497
326
16,781
451

19,925
16,274
1,719
390
19, 017
731

bil.
mildo...

145.27
2,909
719

156.61
3,125
751

mil. $.
do...
do...

13,899
13,324
331

5,821
15,165
497

bil.
mildo

33.72
2,187
407

36.61
2,302
397

mil. $..
do
do

3,605
3,457
120

4,104
3,852
234

Passengers carried (revenue)
milMotor Carriers
Carriers of property, large, class I, qtrly.:*
Number of reporting carriers
Operating revenues, total
_
mil. $..
Net income, after extraordinary and prior period
charges and credits
mil. $..
Tonnage hauled (revenue), common and contract
carrier service
_
mil. tons..
Freight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.) cf
average same period, 1967=100..
Common carriers of general freight, seas, adj.f
1967=100..

5,690

5,979

100
211,420

100
213,853

100
3,559

100
3,913

100
3,569

2 349

2 452

146

126

46

201

217

54

58

54

137

148

152

137

Domestic operations:
Passenger-miles (revenue).
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly)©
Operating expenses (quarterly)©
Net income after taxes (quarterly)©
International operations:
Passenger-mile (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly)©
Operating expenses (quarterly)©
Net income after taxes (quarterly)©

19.49
61.8
2,515

15.61
54.1
2,128

16.16
55.3
2,255

14.84
53.9
2,116

443
77
4,964
425
12.34
269
60

13.02
292
62

12.24
281
65

3.27
206
31

14.51
55.1
1,948

14.01
271
87

13.42
236
62

12.03
251
60

2.60
252
35

3.04
209
43

3.20
220
28

2.49
158
27

1,023
978
20

1,223
1,053
169

5,703
4,656
492
90
254
405

15.32
309
74

14.32
293
68

14.46

3.12
199
33

16.53
300
64

17.74
281
59

*16. 92

4,556
4,205
311

4,151
4,053
67

107

3.13
254
32

18.45
60.6
1,460
5,115
4,226
432
89
5,011
63

4,145
3,979

4,200
3,911
256
3.86
194
34

16.62
56.8
2,143

5,169
4,153
494
154
4,957
127

5,423
4,457

15.62
278
60

17.04
57.4
2,315

3.25
193
32

3.50
177
30

3.98
187
28

4.73
198
27

1,147
1,049

964
958
-5

Urban Transit Systems

152.3

166.2

'587

167.5

489

165.6

166.8

Class I RailroadsA
Financial operations, qtrly. (AAR), excl. Amtrak:
5,002
20,116
Operating revenues, total© 9
mil. $.. 18, 574
4,693
18,916
Freight—
do
17,433
84
337
Passenger, excl. Amtrak
do
330
4,158
16,392
Operating expenses©
do.
14, 954
3,377
Tax accruals and rents..
_
..do
3,152
6
Net railway operating income
do
347
468
* -16
Netineornd (after taxes) ©
do
284
1273
r
2
Revised.
P Preliminary.
1 Before extraordinary and prior period items.
Annual
total; quarterly revisions not available.
^Includes data not shown separately.
1f Applies to passengers, baggage, cargo, and mail carried.
§ Passenger-miles as a percent of
available seat-miles in revenue service reflects proportion of seating capacity actually sold
and utilized.
O Total revenues, expenses, and income for all groups of carriers also reflect
nonscheduled service.
*New Series. Source: I C C (no comparable data prior to 1972).
cf Indexes are comparable for the identical quarter of each year (and from year to year).




479

163.6

492

172.9

615

610

691

616

670

654

192.5

182.8

178.5

162.6

177.3

619

177.6

177.6

167

152
175.9

571

5,110
4,798
4,184
828
98
199
AEffective 1976, defined as those with annual revenues of $50 million or more; restated 1977
data reflect changes.
©Natl. Railroad Pass. Corp. (Amtrak) operations (not included m
A A R data above), 1975 and 1976 (mil. $): Oper. revenues, 235; 287; net loss, 353; 469 (ICC).
«» Domestic trunk
operations
only (domestic trunks average about 90% of total domestic
b
operations).
See note 2 for p. S-22.
t Effective Mar. 1977 SURVEY, revised back to
1957 to new trading day and seas. adj. factors.

CUKRENT BUSINESS

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1976

1977

Annual

S-25
1978

1977
Sept.

Aug.

Oct.

Nov.

Jan.

Dec.

Mar.

Feb.

June

May

Apr.

July

Aug.

Sept.

TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION—Continued
Class I RailroadsA—Continued
Traffic:
Ton-miles of freight (net), total, q t r l y
ML.
R e v e n u e ton-miles, qtrly. ( A A R )
do
Revenue per ton-mile
cents..
Price index for railroad freight.
.1969=100..
Passengers (revenue) carried 1 mile
mil..

822.5
794.1
2.196
186.6
10,634

826.2
2.289
199.1
10, 295

127
31.32
63
22.48
67

210.9
205.3
198.4

198.5

198.5

198.6

139
34.96
65
24.65
70

138
34.98
69
26.10
81

138
35.20
67
25.07
71

155
36.68
76
25.72
76

138
35.70
67
24.96

7,700
7,755
6,264
5,382
2,817
60,521

8,201
8,198
6,492
5,364
3,107
69,980

1,002
801
769
661
271
11,159

719
746
614
500
206
6,355

760
628
528
471
158
5,086

36,602
16,621
14,618
23,321
6,679
138.5

40,754
18,667
16,312
26,120
7,298
149.9

3,488
1,557
1,450
2,243
631
142.1

3,467
1,586
1,376
2,291
591
143.0

527.7
423.0
75.4

554.8
439.6
86.9

47.4
38.1
6.7

349.5
256.3
71.9

396.9
279.4
108.4

33.8
22.9
9 3

208.6
2.294
207.7
5,258

' 203.4

188.5
r

217. S

207."7" • 207.8

207.9

• 208.2

215.2

157
38.09
67
27.42
73

155
39.37
74
27.07
74

rl64
39.83
73
28.55
75

169
39.14
72
28.91
78

174
36.77
66
29.28
78

570
586
405
325
239
2,520

711
721
567
420
379
2,757

706
662
550
420
351

718
804
603
496
371
4,986

785
917
686
522
380
8,232

'308
12,047

3,640
1,642
1,487
2,302
661
145.6

3,585
1,645
1,406
2,248
654
145.5

3,788
1,683
1,570
2,447
660
146.1

3,715
1,688
1,469
2,335
685
146.4

3,820
1,692
1,574
2,470
673
146.9

1,694
1,560
2,424
702
147.2

3,783
1,680
1,526
2,356
712
147.5

46.8
39.0
7.0

44.5
36.5
5.4

44.8
35.3

47.9
35.9
9.2

46.6
36.6

49.1
37.5
9.0

48.1
37.5
8.5

34.9
24.5

35.4
23.8
9.2

34.2
23.5
9.0

38.7
25.3
11.8

36.5
24.4
10.4

38.0
25.0
10.3

39.2
25.4
11.0

207.6

207.6

143
35.54
50
24.66
53

124
38.43
60
26.11
63

139
38.32

575
520
457
409
180
2,634

511
619
535
446
162
2,050

633
592
550
450
217
1,679

3,508
1,608
1,398
2,232
637
143.6

3,563
1,627
1,422
2,312
628
144.2

3,573
1,622
1,435
2,373
603
149.9

46.8
37.9
6.3

46.7
37.3
6.8

46.5
37.6
7.0

34.3
22.6
9.7

34.0
22.5
9.8

34.7
22.0
9.4

215.7

215.1

Travel
Hotels and motor-hotels:
Restaurant sales index
same month 1967=100.
Hotels: Average room saleif
dollars.
Rooms occupied..
% of total.
Motor-hotels: Average room saleU
dollars.
Rooms occupied
% of total.
Foreign travel:
U.S. citizens: Arrivals©
...thous.
Departures©
do...
Aliens: Arrivals©
do...
Departures©
...do...
Passports issued
...do...
National parks, visits§
...do...

26.80

290
11,037

196

COMMUNICATION
Telephone carriers:
Operating revenues 9
mil. $.
Station revenues
_.
do...
Tolls, message
do...
Operating expenses (excluding taxes)
do...
Net operating income (after taxes)
do...
Phones in service, end of period.
..mil.
Telegraph carriers:
Domestic:
Operating revenues
.mil. $
Operating expenses
do...
Net operating revenues (before taxes)
do_.
Overseas, total :<?
Operating revenues
.do..
Operating expenses
_
_..do._
Net operating revenues (before taxes)
do_.

CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
A l u m i n u m sulfate, commercial (17% AI2O3H
thous. sh. t o n s . .
Chlorine gas (100% Clj)t
do....
Hydrochloric acid (100% H C l ) t
do....
Phosphorus, elemental}:
do
Sodium carbonate (soda a s h ) , synthetic (58%
NajO)}
_
thous. sh. t o n s . .
Sodium hydroxide (100% N a O H ) l
do.._.
Sodium silicate, a n h y d r o u s t
do
Sodium sulfate, anhydrous}:
do
Sodium trypolyphosphate (100% NasPsOio)!
do
Titanium-dioxide (composite a n d pure) t . . . d o
Sulfur, n a t i v e (Frasch) a n d recovered:
Production
thous. Ig. t o n s . .
Stocks (producers') end of period
do

1,230
10,378
2,496
437

1,162
10,664
2,568
431

112
894
243
32

94
894
216
34

100
926
229

102
833
222
35

103
868
224
36

97
816
215
33

825
212

102
813
230
36

95
890
253

107
875
224
37

'884
'221
39

948
221
39

2,344
10,516
747
1,232

1,812
10,481
781
1,241

161
855
79
95

147
862
61
94

152
887
62
95

155
852
71
115

140
842
66
102

107
818
67
99

()
798
65
104

()
823
66
104

()
867
64
115

()
861
68
114

()
864
67
104

()
935
62
87

724
713

709
679

61
63

58
62

61
57

56
55

59
49

59
47

57
54

61
60

63
67

58
66

59
63

58
60

19,402
5,563

1 9,389
5,469

787
5,552

768
5,446

770
5,401

776
5,413

801
5,469

792
5,478

735
5,441

809
5,389

780
5,352

5,368

811
5,437

••810
5,519

16,716
7,186
2,010
7,892
2,068
7,955
33,300

17,398
7,454
31,904
7,877
2,640
8,456
35,821

1,552
585
195
670
222
702
2,955

1,500

1,476
636
150
680
209
757
3,137

1,424
610
(6)
663
224
640
2,S00

1,460
564
(6)
629
220
699
2,991

1,391
612
155
643
199
693
3,041

1,208
530
157
595
173
718
3,031

1,435
701
160
767
227
830
3,365

1,558
689
177
736
224
830
3,319

1,553
640
168
719
218
822
• 3,410

1,424
563
'164
'625
'210
768
• 3,250

1,364
514
172
600
203
732
3,101

6,699
573
6,309
23,108
1,169
16,741
1,650

564
407
756
2,043
108
1,467
173

590
471
497
2,311
151
1,666
214

604
552
363
2,101
124
1,561

507
631
408
1,984
174
1,420
179

541
573
318
2,251
132
1,538
112

556
600
458
* 2,165
*168
«1,272
* 154

562
571
447
1,924
153
1,340
80

673
506
687
2,150
192
1,448
162

627
400
789
1,690
73
1,321
58

471
692
1,831
129
1,306
119

'569
'494
557
2,293
148
1,368
205

573
461
417
2,596
364
1,431
210

'598
2,651
406
1,496
237

361
327
8,229
157

19
10
757
0

13
10
852
19

19

21
36
553
0

46
21
642
12

21
27
545
30

54
31
851
16

669
13

53
26
812
21

37
37
849
5

22
3
735
15

13
11
682
0

794
5,489

Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrcusj
thous. sh. t o n s . .
Ammonium nitrate, original solution}
do
Ammonium sulfatei
_
do
Nitric acid (100% H N O 3 ) t
do....
Nitrogen solutions (100% N ) t
do
Phosphoric acid (100% P 5 O 6 )t
do.._.
Sulfuricacid (100% H 2 SO 4 )t
do
Superphosphate and other phosphatic fertilizers
(100%P 2 O 6 ):
Production
thous. sh. t o n s . .
Stocks, end of period
do
Potash, deliveries (KjO)©
do
Exports, total 9
do
Nitrogenous materials.
do
Phosphate materials
do
Potash materials
do
Imports:
Ammonium nitrate
do
Ammonium sulfate
do
Potassium chloride
do
Sodium nitrate
do

5,824
469
1 6,160
18,324
1,239
12,351
1,670
312
566
7,475
103

7

•• Revised.
v Preliminary.
' A n n u a l total; m o n t h l y revisions are
F o r m o n t h shown.
3 Reported a n n u a l total; see note 6 for this page.

2

eo7
125
660
229
719
3,011

not available.
4
Because of an
data

7
ng figures from i n d i v i d u a l companies.
See
o
" © " n o t e , this page.
A See " A " note, p . S-24.
f Average daily rent per occupied room,
not scheduled rates.
9 Includes d a t a not shown separately.
© Effective J u n e 1978 S U R V E Y , data beginning J a n . 1977 exclude potassium magnesium sulfate; comparable data for Jan .-Mar. 1977 are (thous. of short tons) 512,414, a n d 781 respectively.




505
18

47
48
609

81
59

b y U . S . Dept. of Transportation from I N S records
OEffective 1976, data are csompiled
<
™ refer
. . . to air travel;
„.
. . . b y sea is omitted (for 1973-75, average annual arrivals and deand
travel
partures b y sea are as follows—units a n d order as above: 814; 784; 159; 129).
§ Effective Jan. 1976, data include visits to Voyageurs National P a r k (no count of visits for
earlier periods is available); d a t a for Mar.-July 1976 are restated to delete visits t o P l a t t N a tional P a r k which was reclassified as a national recreation area.
(^Includes d a t a for Western Union I n t . Cable & Wireless.
JMonthly revisions back to 1971 are available upon request.
» F o r J u l y - D e c , 1977.

S-26

October 1978

SURVEY OF CURRENT BUSINESS
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S STATISTICS

1977

1977

Annual

Aug.

Sept.

Oct.

1978
Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS—Continued
Industrial GasesJ
Production:
Acetylene
-mil. cu. ft.
Carbon dioxide, liquid, gas, and solid
thous. sh. tons.
Hydrogen (high and low purity)
mil. cu. ft.
Nitrogen (high and low purity)
...do...
Oxygen (high and low purity)
do...
Organic Chemicals cf
Production:
Acetylsalicylic acid (aspirin)
...mil. lb.
Creosote oil
.
mil. gal.
Ethyl acetate (85%)
..mil. lb.
Formaldehyde (37% HCHO)
do...
Glycerin, refined, all grades
do._.
Methanol, synthetic
.mil. gal.
Phthalic anhydride..
mil. lb.
ALCOHOLJ
Ethyl alcohol and spirits:
Production
mil. tax gal.
Used for denaturation.
.do...
Taxable withdrawals.
do...
Stocks, end of period.
do...
Denatured alcohol:
Production
mil. wine gal.
Consumption (withdrawals)
do...
Stocks, end of period
do...

7,111

' 5, 972

'515

'2,064
' 2, 256
••223
r
82,099
84,459 r 7,326
288,867 ' 331,545 28,731
388,446
33,029

26.9
128.3
177.1 i 161.2
' 215.6 1160.8
5,449.3 16,085.0
321.2
286.0
i 940.1 i 972.5
i 902.4 i 931.6

••472

'463

'201
'199
r
6, 815 '7,309
29,236 29,508
31,222 33,798

'454

431

413

422

450

434

'449

391

'182
'183
p
7,098 ' 7,107
29,210 30,147
31,033 32,606

147
7,041
31,853
32,012

158
6,591
28,902
30,001

189
7,809
33,497
34,409

190
7,269
31,776
33,694

200
7,342
33,235
37,805

'204
r
7,186
32,273
36,298

198
7,528
32,272
35,973

'456

2.4
13.1
11.2
491.6
27.4
90.5
72.9

1.7
13.5
7.8
512.6
26.6
70.3
72.1

1.2
11.5
14.4
546.7
25.6
82.8
73.7

1.8
13.0
14.4
533.3
24.6
83.3
68.1

2.3
14.2
13.9
481.8
24.5
88.0
82.9

2.7
8.4
15.4
488.4
23.8
65.3
72.5

2.1
8.3
16.7
477.7
21.0
62.5
72.6

3.0
13.6
17.1
571.3
23.4
57.7
85.2

2.4
13.1
12.4
555.1
23.5
87.3
81.5

3.2
11.9
18.4
550.4
26.3
78.0
92.7

3.0
13.9
22.5
549.1
21.8
77.3
93.4

2.5
10.1
19.8
535.8
20.0
83.3
87.2

499.6
415.9
78.4
85.3

498.3
404.6
81.0
71.4

40.9
36.7
7.5
81.4

41.0
35.0
7.0

44.6
32.2
7.4
71.9

48.8
31.6
7.6
72.9

39.7
25.1
7.5
71.4

35.8
35.1
C.9
68.3

41.1
32.4
5.8
75.2

50.4
37.3
7.5
78.9

42.2
32.1
7.3
80.8

31.3
37.2
7.2
74.6

48.7
37.5
7.5
76.2

42.5
25.4
5.9

225.3
225.6
3.2

223.8
224.6
2.6

19.8
20.1
2.7

18.7
18.6
2.7

17.8
18.1
2.4

19.9
19.4
2.9

16.0
16.2
2.6

19.1
19.2
2.5

17.4
17.1
2.8

19.9
19.9
2.8

17.7
17.7
2.9

21.3
21.3
2.9

20.3
20.2
3.0

17.0
17.0
3.1

11,305.3 i 1,664.0
18.774.7 i 9,945.5
12,551.0 112,712.0
5,178.6
14,742.9
14.544.8 i 5,153.4

138.4
874.7
197.8
423.9
439.2

146.3
841.5
218.9
423.1
417.8

151.1
891.0
239.1
441.7
451.9

144.1
834.1
224.3
468.9
417.4

131.3
808.8
227.6
434.7
392.3

136.6
845.1
235.7
413.3
430.2

138.2
739.4
210.8
396.5
413.8

154.9
916.7
253.0
467.1
477.2

149.1
905.2
226.8
474.9
481.0

148.2
915.4
232.3
479.6
501.6

143.5
900.8
232.2
483.4
480.6

• 128.8
937.1
232.0
r 450. 5
458.1

368.3
173.1
195.2

350.5
165.2
185.2

319.1
149.4
169.8

341.1
160.7
180.3

2.5
11.6
20.4
522.8
29.4
79.8
80.1

PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
Polyethylene and copolymers
Polypropylene
Polystyrene and copolymers
Polyvinyl chloride and copolymers

mil. lb.
do...
do...
do..
do...

142.7
960.4
260.5
427.5
469.8

MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil. lb
Paints, varnish, and lacquer, factory shipments:
Total shipments
mil. $
Trade products. _ _
do..
Industrial
finishes
do..

2,543.0

2.675.1

4,678.0
2,446.4
2,231.7

4,517.7
2,278.5
2.239.2

410.7
207.0
203.7

445.6

647.4

707.4

445.1
239.6
205.4

305.9
140.7
165.2

809.5

416.6
204.0
212.5

ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial) , total
mil. kw.-hr.
Electric utilities, total..
do.
P2,037,654 •2,124,078 196,086 176,246 166,382 167,059 184,205 197,271 173,676 173,157 159,749 175,184 187,408
By fuels
do.
,753,948 1,903,643 179,404 159,822 149,193 146,662 161,449 172,488 151,260 148,496 134,406 146,409 162,166
By water power _.
do..
283,706 220,435 16,682 16,424 17,189 20,397 22,756 24,783 22,416 24, 661 25,343 28,775 25,242
Industrial establishments, total
By fuels
By waterpower

do..
do.
.do.

Sales to ultimate customers, total (Edison Electric
Institute)
mil. kw.-hr.. 1,849,625 1,950,791 176,889 172,074 160,715 153, 250 162,654 174,427 169,924 164, 064 153,146 153,813 165,403
Commercial and industrial:
Small light and power§
do
440,625 469,227 44,345 43,167 39,297 36, 725 38,306 39,922 39,498 38,467 36,001 36,252 40,365
Large light and power§
do
725,169 757,168 64,971 65,140 64, 650 62, 973 62,479 63, 348 59,724 60,150 61,706 65,057 67,449
Railways and railroads
Residential or domestic
Street and highway lighting
Other public authorities
Interdepartmental

do.
do.
.do.
do.
do.

4,337
613,072

4,212
652,345

332
61,541

329
57,687

14,413
45,625
6,383

14,418
46,242
7,179

1,123
4,009
569

1,163
3,977
611

Revenue from sales to ultimate customers (Edison
Electric Institute)
mil.
53,462.!

322
50, 599
1,244
3,841
763

348
47, 568

371
55,611

1,313
3,741
582

1,359
3,916
612

415
64,624
1,396
4,135
587

421
64,283

377
59, 283

1, 258
4,172
567

1,227
3,978
583

336
49,722
1,170
3,643
568

316
46, 764
1,119
3,719
586

353
51,533
1,101
4,005
597

62,610.0 5,967. 7 5,819.1 5,349.1 5,013.6 5,259.7 5,674.5 5,626. 9 5, 646. 4 5,277.1 5,278. 2 5,802. 3

GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total..
Residential
CommerciaL
Industrial
Other..
Sales to customers, total
Residential.
C ommercial
Industrial
Other..
Revenue from sales to customers, total

45,127

45,447

45,009

45,447

46,172

45,580

...do.
do.
do.
_do.

41,519
3,377
2 179
2 53

41,841
3,374
2 179
2 53

41,463
3,317
177
52

41,841
3,374
179

42,445
3,490
183
54

41,984
3,373
172
51

tril. B t u .

14,814

14,244

2,629

5,312

3,180

1,170
572
1,783
74

2,439
1,066
1,692
115

960
492
1,662
66

7,321

11,166

6,861

-thous.

do.
_ _ _ do.
do.
do.
mil. $..

5,014
2,423
2 7,107
2 270

4,787
2,306
2 6,853
2 298

23,701

27,691

418
290
1,861
60
4,973

11,179
Residential
do..
9,941
1,217
Commercial
do.
4,671
4,075
3,072
Industrial
do.
2 9,374 211,478
81
Other
do.
2 363
2 311
' Revised.
* Preliminary.
1 Reported annual total; revisions are not distributed to
2
the monthly data.
Beginning 1976, Industrial includes electric generation, prior to 1976,
electric generation was included with other.
§Data are not wholly comparable on a year




53
3,599

5,685
2,517
2,853
2,330
1,118
1,242
3,019
3,128
3,132
132
97
95
to year basis because of changes from one classification to another.
d"Data are reported on
the basis of 100 percent content of the specified material unless otherwise indicated.
JMonthly revisions back to 1973 are available upon request.

SURVEY OF CURRENT BUSINESS

October 1978
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

Annual

S-27
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

15.63
13.60
15.01

16.56
15.00
14.97

16.88
15.82
14.57

16.74
15.29
19.81

15.15

14.95

7.63

17.44
685.96
9.29

20.61
683.36
10.94

15.63
678.12
9.08
3.09
8.68

619. 70
6.99

Aug.

Sept.

FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES?
Beer:
Production.
mil. bbl.
Taxable withdrawals
do
Stock*, end of period
...do
Distilled spirits (total):
Production
.mil. tax gal.
Consumption, apparent, for beverage purposes
mil. wine gal.
Taxable withdrawals
mil. tax gal.
Stocks, end of period
do
Imports.
.__mil. proof gal.
Whisky:
Production
mil. tax gal.
Taxable withdrawals
do...
Stocks, end of period
.do

163.66
150.39
12.91
160.42
1

425. 89
216.40
752.85
112.71

1

170.55
156.94
12.42

15.31
14.64
14.44

159.38

11.40

13.82

15.06

13.78

12.21

11.88

11.29

11.84

13.69

432.56 33.26
219.41
19.79
706.86 728.33
112.94
7.21

34.33
19.18
725.51
11.58

34.93
21.60
718.50
13.27

43.84
21.18
712.02
11.59

54.63
19.24
706.86
11.53

30.55
18.28
701.16
8.29

30.16
16.87
691.79
8.65

38.42
21.12
690.80
9.74

33.82
20.15

6.17
6.16
11.40
11.22
672. 33 668.17
5.82
9.33

6.99
13.63
661.14
10.91

5.65
12.76
653.85
9.70

5.11
10.89

5.40
9.70

649.00

9.29

5.25
10.11
643.65
6.59

633.82
6.76

5.45
12.08
633.43
7.63

6.39
11.58
629.07
9.04

7.77
9.52
627.72
7.12

6.80
11.37
624.89
8.70

2.81

9.36
3.10

9.79
3.36

7.46
3.03

10.19
.30

1.94
1.71
10.67
.40

1.24
.83
10.22
.40

1.92
1.13
10.97
.28

.30

4.81
25.62
348.02

4.51
26.34
355.00
8.64

2.53
23.32
320.44
8.18

8.06

13.30
12.89
13.57

12.61
11.65
13.53

12.02
11.48
13.02

12.01
11.51
12.42

12.87
10.69
13.92

12.71
11.01
12.02

15.86
14.18
14.56

11.52

9.80

79.12
126.67
692.34
92.07

80.60
127.02
649.00
91,15

107.71
41.85

110.44
41.50

9.84
3.65

9.52
3.72

10.60
4.17

10.25
3.67

10.63
4.12

9.95
3.95

8.00
2.70

10.00
3.42

20.59
19.22
8.74
2.56

22.86
21.35
8.56
2.93

2.13
1.57
10.60
.24

2.02
2.13
10.41

2.70
2.86
10.12
.27

2.67
3.27
9.36

2.19
2.71
8.56
.32

1.72
1.04
9.06
.21

1.51
.97
9.59
.18

1.84
1.25
9.84
.29

19.58
' 310.36 25.93
505.36 298.78
6.39
65.79

123.68
392.22
6.97

155.11 51.24
27.56
26.86
505. 22 513.13
2.92
5.55

25.99
28.00
505.36
5.34

6.22
25.20
478.44
5.61

3.99
21.23
461.30
5.39

19.87

89.85

74.00

24.88

7.55

4.81

5.49

2.45

1.57

1.90

3.56

1.46

Butter, creamery:
77.8
978.6 1,085.6
Production (factory)}
mil. lb.
47.1
208.6
184.9
Stocks, cold storage, end of period
do
.944
1.037
1.015
Price, wholesale, 92-score (N.Y.)
$ per lb.
Cheese:
3, 320. 2 3,357. 9 275.6
Production (factory) total}
mil. lb. 2,048.8 2,042.4
164.9
American, whole milk}
do
478.4
592.9
468.6
Stocks, cold storage, end of period
do
519.7
411.3
404.7
American, whole milk
...do
16.6
206.8
209.4
Imports.
do
Price, wholesale, American, single daisies (Chi1.194
1.187
cago)
$ per lb..
Condensed and evaporated milk:
Production, casegoodst
mil. lb..
818.9
73.4
932.1
Stocks, manufacturers', case goods, end of month
or year
mil. lb_.
75.2
158.7
70.6
Exports:
.2
Condensed (sweetened)
do
4.4
4.1
1.5
Evaporated (unsweetened)
do
44.5
28.8
Fluid milk:
Production on farms}
do
120,269 122,957 10,397
5,613
Utilization in mfd. dairy products}
do
65,879
63,630
9.66
9.72
Price, wholesale, U.S. average}
$ per 100 lb._
9.66
Dry milk:
Production:
6.5
Dry whole milk}
mil. l b . .
69.4
78.1
Nonfat dry milk (human food)}
do
926.2 1,106.0 106.0
Stocks, manufacturers', end of period:
6.5
6.0
Dry whole milk
.do
9.1
109.6
Nonfat dry milk (human food)}
do
60.7
Exports:
2.1
31.6
23.8
Dry whole milk
do
4.9
10.3
38.8
Nonfat dry milk (human food)
do
Price, manufacturers' average selling, nonfat dry
.665
.634
.681
milk (human food)}
$ per l b . .

75.0
203.3
1.051

84.5
195.4
1.056

81.5
193.4
1.050

89.5
184.9
1.060

108.3
195.7
1.047

95,7
215.9
1.035

97.7
235.6
1.059

98.5
245.6
1.084

96.7
264.6
1.088

84.7
280.9
1.093

73.7
312.7
1.117

64.2
282. 4
1.207

251.7
141.4

256.8
146.2

247.7
135.4

281.6
160.1

274.0
163.6

260.6
154.3

311.8
182.9

306.2
190.8

328.7
208.2

332.9
209.3

297.0
183.4

284.6
167.5

553.9
483.3
18.7

502.8
437.5
17.7

479.8
417.4
15.2

468.6
404.7
43.5

460.2
394.4

14.5

442.6
378.1
14.1

431.0
365.3
16.7

448.2
379.8
13.6

462.3
392.1
13.8

501.1
424.3
13.0

501.6
425.5
16.4

• 491.1
418. 0
22.7

473.7
399.9

1.205

1.206

1.211

1.229

1.241

1.246

1.259

1.259

1.259

1.260

1.321

1.340

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
Distilling materials produced at wineries.--do

405.78
298.25
473. 72
56.36
344.77

409.74

276.55

25.98

4.79
5.70
31.63
25.65
434. 92 411. 29
6.62
7.26

DAIRY PRODUCTS

59.7

53.5

47.1

58.8

56.2

52.1

67.3

68.9

82.4

78.8

73.8

69.0

148.6

134.3

101.0

75.2

59.7

52.9

52.1

57.4

79.4

101.4

120.2

134.4

.4
2.7

.2
2.8

.3
2.3

.3
3.0

5« 4. 3

3.9

2.6

3.6

3.5

3.2

2.3

2.1

9,850
4,937
9.97

9,844
4,838
10.10

9,429
4,591
10.20

9,770
4,994
10.20

9,988
5,398
10.20

9,341
5,093
10.20

10, 528 10, 686
5,871
5,903
10.10
10.20

11,219
6.299
10.00

10,928
6,295
10.00

4.7
77.6

4.3
70.3

4.2
65.1

4.9
78.0

6.8
79.7

4.5
70.6

7.4
96.4

8.0
103.0

6.9
113.5

'8.2

5.5
78.6

6.3
81.7

5.8
68.0

5.9
67.4

6.0
60.7

6.0
61.4

5.4
55.2

7.3
79.1

8.4
86.8

9.5
94.7

9.4
95.0

9.3
74.9

2.0
4.8
.679

1.7
1.4

1.5
3.1

5 6 6.8

4.3

.679

.680

1.1
4.2
.681

.681

.680

.710

.713

Exports (barley, corn, oats, rye, wheat) __ .mil. b u . . 2,813.6 2,586.1 225.1
198.0
257.6
Barley:
3 372.5 3 415.8
Production (crop estimate) A
do
328.0
403.3
271.2
Stocks (domestic), end of period
do
264.0
217.8
153.7
On farms
do
117.5
110.3
139.3
Off farms
do
52.1
9.5
72.8
Exports, including malt §
do
Prices, wholesale (Minneapolis):
1.84
2.21
2.45
2.23
3.11
No. 2, malting
$ per bu._
1.86
2.09
2.64
3.06
No. 3, straight
do
2.27
Corn:
Production (crop estimate, grain only)Amil. b u . . 3 6,266.4 3 6,370.6
Stocks (domestic), end of period, total
do
4,889.5 5,463.0
* 884.1
On farms
do
* 446.1
3,345.5 3,788.8
Off farms
do
4 438. 0
1,544.0 1,674.2
Exports, including meal and
flour
do
137.5
1,748.0 1,596.2
121.6
119.2
Price, wholesale:
Weighted avg., selected markets, all grades
$ per b u . .
2.22
2.56
1.86
1.86
Oats:
Production (crop estimate)A
mil. b u . . 3 546.3 3 747.9
Stocks (domestic), end of period, total
do
412.5
563.0
674.8
On farms
do
339.0
480.4
559.
Off farms
do
73.5
82.6
115.5
Exports, including oatmeal
do
1.1
.5
1.3
11.2
12.1
Price, wholesale, No. 2, white (Minneapolis)
$per b u . .
1.04
1.12
1.17
1.34
1.74
r
Revised.
P Preliminary.
i Includes Hawaii, not available on a3 monthly basis;
monthly revisions for 1976 will be shown later.
2 Stocks as of June 1.
Crop estimate for
the year.
4 Previous year's crop; new crop not5 reported until Oct. for corn and June for
barley and oats (beginning of new crop year).
Beginning Jan. 1978, data for condensed
and evaporated milk are reported under the single heading "total milk and cream, con-

207.2

249.6

6 195.5

334.4

288.3

2.4

328.0
217.8
110.3
4.0

1.6

.5

237.1
148.1
89.0
.3

2.33
2.32

2.33
2.32

2.34
2.22

2.30
2.27

2.29
2.27

7.1
84.4
6.1
49.8

263.3
1.220

9,732

10,598 10, 259
5,323
5,687
10.10 r 10. 50

10.80

6.0
.705

GRAIN AND GRAIN PRODUCTS




224.2

335.8

271.3

327.6

7 438. 4

5,463.0

143.3

3,788.8
1,674.2
153.5

6 127.1

2.08

2.23

2.23

3,842.1
2,484.8
1,357.3
157.0
128.0
2.30

2.44

2 4104.0
2 4 67. 6
3.3
2.3
2.49
2.44

2.38
2.38

2.35
2.34

5.2

5.0

2.12
2.10

2.14
2.11

2.26
2.29
'6,823.7

2

2,800.2
21,811.6
160.9

8.6
207.3
2.62

2.52

171.3

180.3

2.47

2.31

2.24
7

563.0
480.4
82.6

417.2
356.0
61.2

2*309.5
256.1
453.4
1.1

595. 9

5.4
.5
2.5
1.44
1.36
1.37
1.27
1.34
1.42
1.25
1.32
1.33
1.34
densed and evaporated"; data for dry whole
milk and nonfat dry milk are under the 7heading
6
"total dry milk, whole and nonfat."
See corresponding note for p. S-29.
Oct. 1
estimate for 1978 crop.
§ Excludes pearl barley.
9 Scattered monthly revisions back to
1973 are available.
} Revised monthly data back to 1973 are available.
A Revised
crop estimates for 1970-74 are available.
3.1

S-28

October 1978

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

1978

1977
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.
Rice:

Production (crop estimate) A
mil. bags 9 -. i 115. 6
California mills:
Receipts, domestic, rough
mil. lb.. 2,220
Shipments from mills, milled rice
do
1,492
Stocks, rough and cleaned (cleaned basis), end
of period
...mil. lb..
158
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb-. 9,563
Shipments from mills, milled rice
_ .do
5,481
Stocks, domestic, rough and cleaned (cleaned
basis), end of period...mil. lb.. 2,682
Exports
do
4,640
Price, wholesale, No. 2, medium grain (Southwest Louisiana)...
$ perlb..
.140

Rye:
Production (crop estimate)A--...mil. bu..
Stocks (domestic), end of period
-do
Price, wholesale, No. 2 (Minneapolis)..$ per bu..

1

15.0
8.9
2.92

• 137. 8

»99.2
2,215
1,460

305
245

85
121

189
36

261
149

157
80

214

149

82

166

191

9,557
6,217

1,242
518

3,474
556

753
531

2,629

1,087

2,763

4,995

494

511

.152

.145

U7.0
9.0
2.39

1.82

228

237

779
545

630
443

344
433

282
505

266
520

2,693

2,647

2,629

2,474

2,231

188

634

464

204

427

.150

.154

.205

.215

.215

14.5
2.23

2.20

2.55

9.0
2.55

2.67

93
63

170
81

179
140

55

103
61

226

165

239

229

237

131

101
455

109
434

110
385

1,005
500

1,287

952

684

842

364

694

347

325

.185

.175

2.39

2.19

463
1,638

294
.215

339
.205

.190

.145
•28.6

Wheat:
Production (crop estimate), total A
mil. bu.. ' 2,142 12,026
Spring wheat A
do—
1499
1582
Winter wheat A...
do
i 1,560 i 1,527
Distribution, quarterly d1
do
1,820
1,748
Stocks (domestic), end of period, total
do
1,781.8 1,990.0
On farms
do
829.4
665.4
Off farms
do
1,116.4 1,160.7
Exports, total, including
flour.
.do.... 1,001. 3
Wheat only
do.... 968.9
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu..
4.10
No. 2, hd. and dk. hd. winter (Kans. City) do....
3.50
Weighted avg., selected markets, all grades
$ per bu_.
3.87

109
61

214

114
62
217

172
99

2.57

5.9
2.95

3.02

3M.0
3.23

2.96

2.37
1,778.4
9
534.7
1,243.7

2 741

466

408

2,397.6
1,032.2
1,365.3

2 351

1,524. <
638.8
886.1

1,990.0
829.4
1,160.

3*1,174.3
3 * 492.2

3 * 682.1

905.8
863.9

96.1
93.4

110.2
108.5

69.4
68.3

58.5
56.7

89.6
86.7

8 66.3
64.6

94.9
94.5

107.4
103.3

107.8
101.8

124.2
118.8

115.1
108.8

110.0
106.1

136.9
131.9

2.80
2.62

2.59
2.35

2.86
2.52

2.92
2.60

2.94
2.88

3.04
2.90

3.07
2.99

3.13
3.16

3.32
3.34

3.35
3.26

3.27
3.20

3.18
3.20

3.18
3.12

3.30
3.27

2.88

2.55

2.82

3.04

3.02
2.84
3.13

3.05

3.12

3.14

3.27

3.37

3.40

3.34

3.22

3.31

3.34

22,039 22,054
383
378
49,258 49,360

22,445
389
50,166

23,363
410
52,106

21,787
381
48,430

21,783
385
48,910

24,330
430
54,821

22, 554
385
50, 478

24,078
417
53,601

23,051
402
51,544

22,376
388
50,005

4,096
1,774

2,554

2,297

3,459
2,694

1,674

2,145

8.638
8.250

8.388
7.463

8.100
7.225

8.250
7.600

7.938
7.575

7.825
7.550

Wheat flour:
Production:
Flour..
thous. sacks (100 lb.)-- 259, 483 261,405
Offal
thous. sh. tons..
4,622
4,643
Grindings of wheat
thous. bu.. 584,082 586,145
Stocks held by mills, end of period
thous. sacks (1001b.)..
4,160
4,334
Exports
...do
17,994
13,907
Prices, wholesale:
Spring, standard patent (Minneapolis)
7.160
$ per 1001b.. 9.509
6.246
Winter, hard, 95% patent (Kans. City) --do—. • 8.303

23,023
410
51,712
1,146

3,537
730

473

766

4,160
1,237

8 723

147

5.913

7.025
6.088

7.188
6.325

7.338
6.575

7.200
6.488

7.588
6.988

7.325
6.675

7.650

LIVESTOCK

Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals..
Cattle
...do....
Prices, wholesale:
Beef steers (Omaha)..
..$ per 100 lb..
Steers, stocker and feeder (Kansas City).-do
Calves, vealers (So. St. Paul)t...do
Hogs:
Slaughter (federally inspected)--thous. animals..
Prices:
Wholesale, average, all weights (Sioux City) ©
$ per 1001b.
Hog- corn price ratio (bu. of corn equal in value
to 1001b. live hog).
Sheep and lambs:
Slaughter (federally inspected).--thous. animals.
Price, wholesale, lambs, average (Omaha)
$ per 1001b .
MEATS
Total meats (excluding lard):
Production, totalf
mil. lb..
Stocks, cold storage, end of period 0
do
Exports (meat and meat preparations)
do
Imports (meat and meat preparations)
do
Beef and veal:
Production, totalf
do
Stocks, cold storage, end of period O
do
Exports
do__.
Imports
do
Price, wholesale, beef, fresh, steer carcasses, choice
(600-700 lbs.) (East Coast)..
$ per lb..
Lamb and mutton:
Production, totalt...
mil. lb.
Stocks, cold storage, end of period
do

4,438
38,992

4,696
38,717

411
3,489

403
3,320

392
3,282

3,244

387
3,200

3,238

336
3,046

3,243

304
2,969

288
3,215

271
3,052

261
2,869

304
3,247

275
3,027

39.11
37.65
45.18

40.38
38.74
48.19

40.11
39.61
46.20

40.35
39.04
41.54

42.29
40.18
42.50

41.83
38.79
40.98

43.13
39.71
40.50

43.62
42.85
40.50

45.02
46.89
43.75

51.39
47.60

52.52
53.81
69.45

57.28
59.85
77.26

55.38
57.42
73.28

54.59
58.67
75.72

52.40
58.22
81.66

54.26
60.23
83.25

70,454

74,018

6,148

6,514

6,507

6,885

6,186

5,969

5,840

6,794

6,213

6,298

5,778

5,402

6,227

6,203

43.19

41.12

44.34

41.39

40.97

39.44

44.13

46.08

49.26

47.77

46.22

49.25

48.19

46.94

48.83

50.34

17.5

19.9

26.3

25.2

23.9

20.1

21.2

22.0

23.6

21.8

20.0

20.9

20.9

20.9

••24.0

24.8

6,474

6,133

553

568

525

477

441

425

390

487

430

451

441

406

438

435

47.84

53.38

51.87

55.75

56.88

50.00

58.50

64.00

67.50

69.38

62.75

71.00

59.50

60.00

59.25

62.50

39,060
5 733
1,305
U.868

39,172
567
1,315
1,741

3,404
569
110
158

3,354
579
125
167

3,345
532
106
117

3,416
565
109
87

3,241
567
124
212

3,214
560
8 109
138

3,044
574
101
155

3,341
660
115
183

3,079

748
108
202

3,268
761
108
181

3,078
721
99
167

2,882
642
93
161

3,272
••582
119
137

26,480
5 464
82
1,467

25,780
327
93

2,193
356
8
140

2,165
311
8
95

2,148
301
8
71

2,108
327
10
171

2,140
327
8 30
103

2,009
331
35

118

2,133
370
27
141

1,960
385
32
161

2,118
400
30
147

2,007
385
32
133

1,897
344
28
123

2,146
'325
35
107

2,018
342

1,377

2,301
361
10
129

.644

.662

.661

.667

.694

.690

.715

.723

.747

.782

.846

.922

.897

.878

.840

.854

361
15

341
10

28

25

r
3
Revised.
* Crop estimate for the year.
2 See "d"" note, this page.
Stocks as of
June 1.
* Previous year's crop; new crop not reported until June (beginning of new crop
year).
»See
"
O
"
note,
this
page.
'Average
for
11
months
(Jan.-June,
Aug.-Dec).
7
8
9
Reflects revisions not available by months.
See note 6 for p. S-29.
Oct. 1 estimate for 1978 crop.
9 Bags of 100 lbs.
d" Data are quarterly except that beginning
1975, June figures cover Apr., and May; Sept. covers June-Sept.




27

25
11

O Effective April 1977 SURVEY, data beginning Feb. 1976 are restated to exclude cooler meats;
comparable earlier data will be shown later.
t See corresponding note, p. S-29.
© Effective July 1977 SURVEY, monthly prices are restated through May 1977 to coincide with
published annual averages which are for "all weights, excluding sows"; comparable monthly
data, prior
ARevised crop estimates for 1971-1974
prio. to
._ May 1976 will be shown later.
are available.

SUKVEY OF CURRENT BUSINESS

October 1978
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S S T A T I S T I C S

1977

Annual

S-29
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
MEATS—Continued
Pork (excluding lard):
Production, totalt
mil. lb
Stocks, cold storage, end of periodA
do
Exports
do
Imports
-__do._
Prices, wholesale:
Hams, smoked composite
.$ per l b . .
Fresh lcins, 8-14 lb. average (New York)...do..

3 212
311
*318

13,051
186
289
298

1,074
145
23
24

1,130
158
27
22

1,151
166
26
18

1,241
209
28
12

1,108
186
25
34

1,051
174
«32
29

1,013
174
26
25

1,179
217
26
35

1,093
281
25
32

1 125
281
31
28

1,046
258
25
26

962
218
23
29

1,101
' 178
31
23

1,095
175

.855
.977

!952

.801
.979

.776
.986

.889
.984

.971
.901

1.013
1.029

.857
1.038

.932
1.066

.822
1.022

.759
1.001

.820
1.091

.808
1.129

.803
1.102

.887
1.067

.905
1.147

11,916

1,179

1,115

1,092

1,028

969

932

831

981

901

1,088

1,127

1,052

1,234

310
168

485
330

566
409

599
444

418
269

310
168

304
168

263
137

233
113

210
101

213
104

257
152

326
213

'413
'298

476
362

12,219

POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. l b . . 11,739
Stocks, cold storage (frozen), end of period, total
363
mil.lb..
203
Turkeys
do
Price, in Georgia producing area, live broilers
.240
$perlb_.

.237

.240

.235

.225

.210

.205

.230

.240

.240

.280

.265

.300

.330

.265

.270

179.2

179.3

14.9

14.8

15.6

15.4

16.1

15.9

14.1

15.7

15.3

15.7

15.0

15.1

15.2

15.0

28
26

39
30

47
35

50
34

52
33

50
31

39
30

50
28

41
26

37
23

36
23

30
22

30
27

29
28

'55
29

51
28

.678

.624

.593

.593

.537

.550

.615

.552

.628

.620

.570

.520

.493

.612

.618

.632

Cocoa (cacao) beans:
Imports (incl. shells)
...thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per l b . .

235.4
1.092

172.1
2.144

10.8
1.993

6.2
2.560

8.1
2.500

4.7
2.500

5.5
2.500

19.4
2.500

20.3
2.500

27.9
2.500

20.5
2.500

16.5
2.500

12.4
2.500

16.1
2.500

14.7
2.500

Coffee (green):
Inventories (roasters', importers', dealers'), end
of period
_
thous. bagscf..
Roastings (green weight)
do

2,805
19 063

1,684
14,233

19,788
3,092
1 228
2 912

14,808
2,453

695
71

678
5

635
1

972
3

1,347
108

1,682
209

1,575
129

1,707
115

1,557
319

1,345
329

1,249
206

1,316
337

1,124
56

3 059

OQQ

343

OOQ

279

97c

252

291

271

207

211

' 193

184

371

420

393

424

412

426

420

384

339

336

319

324

344

367

Production on farms t
- - -mil. cases©..
Stocks, cold storage, end of period:
Shell
thous. cases©..
Frozen
mil. lb
Price, wholesale, large (delivered; Chicago)
$ per doz__
MISCELLANEOUS FOOD PRODUCTS

Imports, total
do
From Brazil
do
Price, wholesale, Santos No 4 (N Y ) $ per lb
Confectionery, manufacturers' sales
mil. $..
Fish:
Stocks, cold storage, end of periodj

imil. lb__

2

2,638
2 364

Sugar (United States):
Deliveries and supply (raw basis):§
Production and receipts:
Deliveries, total
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports:
Raw sugar, total
From the Philippines
Rpfined sncRr total
Prices (New York):
Raw, wholesale.

_

Tea, imports

2,202
3,550

'413

5 748

5 053

73

147

681

1 067

997

602

374

280

130

189

135

48

10,924
10 856
3,341

11,245
11 210
4,352

1,130
1,128
2,019

1,005
1,000
1,951

914
914
2,259

958
957
3,009

836
832
4,352

766
764
4,352

775
772
4,104

930
927
3,850

864
861
3,451

891
888
3,326

1,033
1.029
3,059

905
901
'2,729

*>2,270

sh. tons.. 69,735

20,335

727

1,764

807

494

1,376

« 4,312

881

970

802

682

613

841

747

5,130
1,136
656

474
78
g

569
181
24

481
84
16

418
141
20

562
48
469

7 277
M18

189
49

447
53

67
28

300
63

330
56

607
16

335
54

.114

6.135

do
do
do

thous. sh. tons..
do
do

Retail (incl. N.E. New Jersey)
Wholesale (excl. excise tax).

2 161
4,467

1 684
3 878

4,331
900
214

(8)

$ per lb_.

.135

.109

.110

.108

.098

.114

.114

.114

.114

.114

.114

.114

.114

$ per 5 lb .
..$ per lb_.

1.262
.190

1.118
.169

1.115
.172

1.134
.165

1.112
.155

1.133
.191

1.045
.185

1.155
.187

1.174
.201

1.212
.193

1.270
.201

1.268
.200

1.189
.198

.191

.205

< 203,012 15,932

9,994

9,702

7,213

10,924

9,023

12,791

18,648

15,450

17,523

8,286

13,141

13, 788

thous. lb_. 181,304

M36

.213

FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production}:
Stocks, end of period©
Salad or cooking oils:
Production t
Stocks, end of period ©.

_

mil.lb
do

3,913. 4
127.7

3,841.1
113.0

325.1
125.8

325.5
117.9

343.6
112.1

347.9
109.6

342.1
113.0

312.4
138.8

305.1
125.2

368.2
112.1

328.0
128.4

335.5
141.1

302.2
126.1

' 293. 0
' 124.2

361.0
107.2

do
do

4,343.0
104.0

4,346.9
105.4

374.8
90.6

364.9
88.7

376.2
109.3

386.2
101.5

436.8
105.4

391.1
127.7

378.1
118.3

459.0
112.7

435.0
133.8

413.1
128.1

406.8
123.7

' 368.8
' 130.8

410.4
134.4

2,629.7
67.2

2,535.0
79.9

198.2
68.6

209.1
58.9

221.8
74.0

229.0
70.0

244.7
79.9

219.8
61.8

224.6
70.3

243.0
59.3

186.8
72.3

183.7
63.4

194.6
68.8

166. 0
'67.8

201.0
60.4

.443

.507

.518

.535

.513

.513

.500

.500

.500

.514

.552

.552

.552

.552

.525

535.5
660.5
47.5

598.5
787.9
42.4

43.4
68.4
51.8

47.6
74.9
33.5

63.9
72.3
32.0

65.2
67.8
33.7

68.9
68.6
42.4

64.0
66.6
48.7

60.8
67.0
49.1

74.1
82.8
40.6

60.8
74.8
38.3

70.0
71.4
38.8

65.5
63.7
45.4

'61.7
'62.0
'45.1

70.3
70.6
46.2

521.7
259.4
324.9

509.9
257.8
347.2

483.2
254.8
352.0

464.2
261.9
349.0

537.4
294.4
352.3

463.3
281.7
289. 2

500.1
296.3
292.7

Margarine:
Production
do
Stocks, end of period©
.
do
Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered)
$ per lb

.522

Animal and fish fats:
Production (quantities rendered)
Consumption in end products
Stocks, end of period^. _

mil. lb.
..do...
. d o

Tallow and grease (except wool), inedible:
6,106.3
516.4
510.6
530.9
Production (quantities rendered) J . .
do
5,674. 6
267.2
275.2
275.0
Consumption in end products!
_do._. 3, 367.2 3,180.4
362.3
363.7
355.5
347.2
354.8
Stocks, end of period^
do...
' Revised, v Preliminary. 1 Average for July-Dec: beginning July 1977, prices represent
2
Midwest and Los Angeles and are not comparable with those for
earlier periods. Aver4
age for 2 mos. (May and Sept.).
s See " A " note, this page.
Reflects revisions not distributed to
the
months,
s
Estimated
price;
not
strictly
comparable
with those for earlier
periods. 6 Because of an overall revision to the export commodity classification system
effective
Jan.
1,
1978,
data
may
not
be
strictly
comparable
with
those
for earlier periods.
7
Beginning Jan. 1978, data8 are for both raw and refined sugar and are not comparable with
those for earlier periods.
Beginning Jan. 1978, data are no longer available; see note 7,
this page.




464.9 ' 442. 5
263.1 ' 242. 5
289.3 1 ' 309. 6

490.3
273.1
343.4

©Cases of 30 dozen.
d"Bags of 132.276 lb.
§Monthly data reflect cumulative revisions
for prior periods.
©Producers' and warehouse stocks.
If Factory and warehouse
stocks.
t Monthly revisions back to 1974 are available.
AEiTective April 1977 SURVEY,
data beginning Feb. 1976 are restated to exclude cooler pork; comparable earlier data will
be shown later.
t Revised series. Beginning May 1977 SURVEY, data represent total commercial slaughter (excluding rendered pork fat and lard), whereas the price for calves
(p. S-28), represents a different market. Comparable data prior to Mar. 1976 will be shown
later.

S-30

October 1978

SURVEY OF CURRENT BUSINESS
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

Annual

1978

1977
July

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATED
PRODUCTS—Continued
Vegetable oils and related products:
Coconut oil:
Production, refined.
Consumption in end products.
Stocks, reiined, end of period H
Imports

..mil. l b .
do...
do...
do...

849.2
990.3
40.1
1,206.9

729.4
878.7
39.9
994.3

49.1
71.9
42.9
75.0

59.4
73.1
40.1
76.1

56.5
76.3
37.9
29.4

61.0
77.4
30.7
75.1

94.5

58.1
69.3
36.6
65.5

56.8
71.0
35.9
127.1

73.0
81.5
46.0
102.9

70.4
88.9
48.2
72.4

68.1
87.6
41.2
98.3

69.0
76.1
40.7
79.9

65.3
'73.6
38.7
104.5

70.2
79.0
39.0
83.7

55.1
65.0

Corn oil:
Production: Crude.
Refined
Consumption in end products...
Stocks, crude and ref., end of period 1f

do...
do...
do...
do

692.4
562.2
517.0
42.1

671.9
577.0
537.6
33.4

59.3
53.2
49.1
54.8

53.7
49.0
48.2
45.8

58.9
51.6
46.5
39.5

58.0
48.6
47.5
48.3

50.1
49.0
50.6
33.4

54.9
47.6
44.7
26.7

51.6
43.2
43.2
31.9

58.7
51.1
48.7
33.4

57.1
44.4
37.5
41.2

68.0
53.3
41.2
52.3

64.7
48.1
44.9
62.9

60.5
41.4
'37.7

59.7
55.1
47.3
70.9

Cottonseed oil:
Production: Crude
Refined
Consumption in end products

do...
do...
do

984.3
819.8
578.8

1,254.6
995.7
625.3

63.0
57.8
51.8

60.1
48.7
48.6

115.1
77.8
47.5

146.3
111.4
52.6

140.2
112.8
58.5

141.6
111.1
50.0

129.5
98.2
52.3

141.8
114.7
55.6

122.1
102.7
55.7

109.2
91.3
63.4

113.9
95.2
65.9

' 107.8
91.8
62.3

102.7
101.9
61.3

Stocks, crude and ref., end of period If
do
Exports (crude and refined)
do
Price, wholesale (N.Y.)
$ per l b .

191.6
520.9
.297

132.7
731.2
.299

122.2
52.5
.275

79.4
65.5
.245

91.5
35.4
.265

112.4
64.2
.270

132.7
67.2
.300

151.4
50.6
.295

156.4
68.2

176.4
84.9
.315

180.4
61.6
.315

154.6
59.8
.335

130.7
63.5
.333

106.7
70.2
.340

99.3
50.0
.355

..mil. l b .
do
do

9,639.6
7,185.4
7,576.6

8,836.5
7,642.5
7,451.0

553.6
648.4
629.8

578.2
612.0
621.5

821.9
686.8
658.6

922.3
749.8
682.3

931.5
731.0
721.9

911.9
705.6
664.1

809.5
653.2
648.8

943.3
801.4
771.7

866.9
738.0
686.5

908.2
732.1
662.4

795.1
649.9
640.5

777. 9
636.8
596. 2

815.5
704.7
699.1

Stocks, crude and ref., end of period H
do
Exports (crude and refined)
do
Price, wholesale (refined; N.Y.)
$perlb.

1,488.1
1,088.4
.244

859.2
1,666.9

937.3
72.0
.275

766.6
66.0
.249

752.1
108.8
.246

766.5
185.5
.260

859.2
913.8
175.3 7 113.1
.265
.285

856.5
141.8
.265

803.8
252.6
.320

822.2
218.9
.319

828.7
176.4
.336

834.4
147.2
.315

820.8
165.5
.320

777.9
108.8
.316

Leaf:
Production (crop estimate)..
mil. lb.. i 2,136 U.912
Stocks, dealers' and manufacturers', end of period
5,070
mil.lb..
4,978
Exports, incl. scrap and stems
thous. lb.. 577,997 2 628,564 47,506
Imports, incl. scrap and stems
_
do
310,393 316,236 32,360

4,711
66,331
33,271

40,904
29,161

32, 316
31,446

4,453
29,178
29,661

42,661
35,184

52,266
28,032

Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable.
Exports, cigarettes

7,716
49,144
326
7,530

Soybean oil:
Production: Crude
Refined
Consumption in end products...

.405

.330

TOBACCO

...millions..
do
do
do_._.

72,126
617,892
4,041
61,370

78,133
592,018
r 3,775
66,835

8,031
56,151
314
6,442

8 2, 011
17,850
22,997

5,070
49,515 102,364
25,072 23,716

52,539
25,925

55,604
26,973

4,811
73,157
27,773

5,693
50, 779
385
3,570

5,952
51,358
341
4,177

6,734
42,886
284
7,341

5,399
48,436
280
3,716

6,769
49,326
271
6,151

7,362
55,317
329
6,580

6,973
50,268
282
5,361

6,981
54,390
319
6,050

7,971
58,267
345
6,616

5,925
44,397
235
5,523

7,205

LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value, total9
thous. $. 552,276
Calf and kip skins
thous. skins..
2,162
Cattle hides
thous. hides._ 2 25,270
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 lb_
Hides, steer, heavy, native, over 53 lb

582,906
2,508
24,488

46,500
187
1,937

50,381
249
2,157

39,260
179
1,631

38,207
196
1,572

52,871
336
2,235

M5,523
211
1,893

47,562
160
2,021

58,535
288
2,270

61,297
265
2,375

55,370
194
2,122

55,846
199
2,078

47,511
222
1,725

58,797
189
2,176

89,100
16,603
1,255

96, 600
15,468
1,137

9,400
1,385
72

9,500
1,295
151

5,000
482
44

3,500
155
3

8,100
1,288
80

6,700
841
116

10, 200
1,850
227

10,800
2,080
143

2,541
275

2,245
128

1,577
45

190

1,323
75

3.755

4.914
.370

.900
.368

.900
.348

.750
.348

.800

.338

.900
.388

.900
.378

1.000
.373

1.100
.413

1.100
.418

1.100
.458

1.200
.478

1.850
.530

206,276 12,276

16,838

12,807

14,980

18,240 717,364

15,309

16,408

16,720

18, 899

21,427

14,160

19, 726

227.2

241.6

$ per lb._
do.

1.850
.590

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
Exports:
Upper and lining leather

thous. sq. f t . . 2 203,707

Prices, wholesale, f.o.b. tannery:
Sole, bends, light
index, 1967=100..
Upper, chrome calf, B and C grades
\
index, 1967=100..

5

2

270.4

6 205.8

207.1

207.1

192.7

201.3

201.3

210.0

212.8

208.5

207.1

210.0

391,121

34,923

33,200

34,010

33,498

31,172

32,395

32,572

37, 271

36,173

36,761

34,221

25,458

309,770
65,961
12,642
2,748

27,174
6,284
1,174
291

25,724
6,153
1,073
250

25,873
6,838
1,018
281

26,153
6,212
886
247

25,605
4,371
929
267

26,955
4,204
978
258

26,498
4,698
1,020
356

29,895
5,520
1,479
377

27,870
6,010
1,568
725

28,871
5,991
1,578
321

26,516
5,830
1,474
401

20,695
3,464
951
348

6,023

5,411

475

549

369

489

453

395

378

585

495

448

514

454

605

179.1

193.3

194.8

194.8

197.9

197.9

197.9

200.8

206.8

206.8

211.4

211.4

211.4

211.4

213.8

218.6

163.8
143.4

171. 8
144.9

170.2
143.8

170.2
143.8

173.3
146.8

173.3
146.8

173.3
146.8

176.9
146.8

176.9
146.8

176.9
146.8

181.7
157.4

182.9
161.3

182.9
161.3

182.9
161.3

182.9
161.3

187.7
161.3

197.9

LEATHER MANUFACTURES
Footwear:
\
Production, total
V
thous. p a i r s . . 422,507
Shoes, sandals, and play shoes, except athletic
thous. pairs. _ 345,433
64,880
Slippers
__
do
Athletic
d o _ . . . 10,064
2,130
Other footwear
___do
Exports...

...do

Prices, wholesale f.o.b. factory:
Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt
index, 1967=100..
Women's oxfords, elk side upper, Goodyear
welt.—
--.
index, 1967=100..
Women's pumps, low-medium q u a l i t y . - - d o

1
3
•" Revised.
Crop estimate for the year.
Annual total reflects revisions not distrib3
4
uted to the monthly data.
Average for Jan., Feb., and Apr.-Dec.
Average for Jan.6
7
Sept., Nov. and Dec.
* Average for Jan.-Nov.
Average for Feb.-Dec.
Because




of an overall revision to the export commodity classification system effective Jan. 1,1978, data
8
may not be strictly comparable with those for earlier periods.
Oct. 1 estimate for 1978
crop.
9 Includes data for items not shown separately.
H Factory and warehouse stocks.

SURVEY OF CURRENT BUSINESS

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1977

1976

S-31

1977

Annual

Aug.

Sept.

Oct.

1978
Nov.

Dec.

Jan.

Mar.

Feb.

Apr.

May

June

July

Aug.

Sept.

LUMBER AND PRODUCTS
LUMBER—ALL TYPES 9
National Forest Products Association:
Production, total..
.mil. bd. ft_.
Hardwoods
do
Softwoods
do

36,472
6,442
30,030

1

37,235
6,185
31,050

3,290
583
2,707

3,368
526
2,842

3,268
552
2,734

2,839
487
2,352

2,944
456
2,488

2,843
442
2,401

2,904
430
2,474

3,222
497
2,725

3,127
571
2,556

3,203
546
2,657

3,333
574
2,759

2,988
597
2,391

Shipments, total
Hardwoods
Softwoods

do.
do.
do.

i36,328
6,426
29,902

137,521
6,297
31,224

3,358
583
2,775

3,296
516
2,780

3,269
576
2,693

2,859
496
2,363

2,983
455
2,528

426
2,273

2,741
456
2,285

3,158
511
2,647

3,133
574
2,559

3,355
583
2,772

3,548
600
2,948

3,156
574
2,582

Stocks (gross), mill, end of period, total
Hardwoods
Softwoods

do.
do.
do.

5,111
891
4,220

4,825
779
4,046

4,787
789
3,998

4,859
799
4,060

4,876
775
4,101

4,855
765
4,090

4,818
770
4,048

4,963
787
4,176

5,128
763
4,365

5,201
749
4,452

5,190
752
4,438

5,038
715
4,323

4,877
687
4,190

4,705
706
3,999

.do
do

1,909
8,178

1,670
10,698

156
920

128
938

99
858

108
956

142
911

72
865

94
840

110
939

125
915

212
1,173

118
1,117

93
1,194

mil. bd. ft._
do

8,377
634

8,712
565

742
574

688
502

754
495

661
513

816
565

738
607

846
649

757
679

807
706

8,322
8,293
949

8,796
8,781
964

711
715
901

805
760
946

779
761
964

637
643
958

770
764
964

769
696
1,037

812
783
1,143

745
727
1,161

745
780
1,126

833
614
816
925
1,017

705
597

.do.
—do..
do..

712
586
810
733
1,114

.do.
do
do

602
180
422

488
129
359

35
11
24

30
8
21

25
8
17

28
6
22

51
7
44

28
5
23

39
9
29

52
17
36

37
10
27

52
16

50
19
31

47
4
44

191.24

230.38

242.51

256.92

237.27

218.03

227. 70

238.08

241.81

246.28

238.48

238.43

i 7,467
443

i 8,317
470

798
524

646
447

739
434

667
466

637
470

624
500

790
552

767
563

i 7,575
i 7,477

i 8,224
i 8,290

759
797

742
723

764
752

629
635

621
633

594

591
495
622
596

728
733

730
756

761
588
735
736

1,232

1,166

1,153

1,172

1,184

1,178

1,166

1,180

1,206

1,210

1,175

1,174

1,170

1,163

14,920

12,506

15,495

8,991

10,324

Exports, total sawmill products
Imports, total sawmill products

_

1,119

SOFTWOODS
Douglas fir:
Orders, new
Orders, unfilled, end of period
Production
Shipments
—
Stocks (gross), mill, end of period. _
Exports, total sawmill products
Sawed timber.
Boards, planks, scantlings, etc

Price, producer:
Dimension, construction, dried, 2" x 4", R. L.
$perM bd. ft..
Southern pine:
Orders, new
Orders, unfilled, end of period

mil. bd. ft.
.do

Production
...do.
Shipments
do..
Stocks (gross), mill and concentration yards, end
of period
mil. bd. ft..

M bd. ft._ 140,386

Exports, total sawmill products

Prices, producer (indexes):
Boards, No. 2 and better, 1" x 6", R. L.
1967=100.
Flooring, C and better, F. G., 1" x 4", S. L.
1967=100.
Western pine:
Orders, new
Orders, unfilled, end of period

207.5

619
722
914

245. 28 245.00 272.06 274. 74
696
552

668
544

728
732

669
676

157,806

15,682

14, 242

9,272

10,223

9,005

14,712

9,784

14,492

271.0

284.2

287.9

288.6

290.6

294.3

299.7

305.5

313.6

321.5

329.7

331.5

333.6

337.7

343.4

274.4

274.4

276.6

280.6

282.1

233.6

250.2

254.8

259.1

260.2

262.4

264.6

267.9

269.9

272.4

271.2

mil. bd. ft.
.do...

9,760
554

870
563

811
557

865
590

696
567

752
618

850
636

739
596

877
546

874
526

854
544

9,789
9,744

933
607
916
931

908
554

...do.
do.
do.

10,331
590
10,309
10,295

966
961

833
861

813
817

821
832

744
719

759
701

871
832

790
779

865
927

843
894

786
836

1,315

1,329

1,317

1,322

1,344

1,340

1,329

1,354

1,412

1,451

1,462

1,400

1,349

1,299

184.31

231.53

232.57

236.48

235.28

215.40

226-17

247.58

263.85

264.90

114.5
4.2

112.8
7.9

11.1
7.6

9.4
7.3

9.1
6.4

9.8
6.8

8.1
7.9

9.8
8.9

8.6
9.1

10.8
10.4

9.5
10.7

9.3
11.6

9.3
10.2

8.5
11.4

10.5
11.4

104.5
109.3
8.9

109.8
110.0
6.2

10.0
10.6
5.1

10.1
9.7
5.4

9.7
10.0
5.1

9.3
9.4
4.9

9.1
7.3
6.2

8.8
5.3

8.0
8.5
4.8

9.9
9.4
5.4

9.0
9.2
5.2

8.8
8.5
5.4

9.1
10.1
4.0

7.2
7.4
3.7

10.4
3.1

191
628
5

205
695

255
821
1

271
786
1

174
756
5

777
7

2,175
45
35

1,511
127
38

1,360
55
99

1,785
77
42

1,870
71
78

4,477
4,265
8,488
8,779

4,581
4,851
8,938
8,738

• 4,605
• 4,509
• 8,579
• 8, 747

4,162
4,120
7,726
8,879

Production
Shipments
Stocks (gross), mill, end of period

Price, producer, Ponderosa, boards, No. 3,1" x 12",
R. L. (6'and over)
__$perM bd. ft..

\7 240.07
267.57

251. 25 232. 33 236. 92 254. 23

HARDWOOD FLOORING
Oak:
Orders, new
Orders, unfilled, end of period
Production
Shipments
Stocks (gross), mill, end of period

.mil. bd. ft.
do...
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
Scrapt.
Pigiront
-

-

57

2,003
6,175
51

143
438
3

171
598
3

125
474
2

14,285
507
415

19,307
625
373

1,831
67
19

2,057
62
25

1,762
40
54

.thous. sh. tons.. i 50,035 49,523
i 41,144 i 47,873
do
i 89,914 i 92,090
do
i 9,360
19,988
.do

4,207
4,051
7,734
9,760

4,187
4,035
7,605
9,917

4,244
4,093
7,985
9,734

-do.
...do.
do.

-

2,654
8,120

148
462
2

149
475
1

160
642
1

208
444
1

2,087
50
53

1,538
53
44

2,220
46
7

3,968
3,729
7,368
9,360

3,824
3,679
7,541
8,923

3,714
3,868
7,374
8,797

Iron and Steel Scrapf
Production
Receipts, net
Consumption
Stocks, end of period...

Prices, steel scrap, No. 1 heavy melting:
2 55.99 60.65 59. 53 51.77
73.62
Composite (5 markets).
$perlg. ton..
64.00
56.00
80.35
66.50
79.10
Pittsburgh district
do.
' Revised.
* Preliminary.
i Annual data; monthly revisions are not available.
2 Effective with Feb. 1977, composite reflects substitution of Los Angeles for San Francisco;
effective July 1977, it reflects addition of Detroit and Houston.
Avg. for 1977 is for July-Dec.
3 Less than 500 short tons.
9 Totals include data for types of lumber not shown




3,962
3,709
7,430
9,412

4,730
4,396
8,347
9, 017

75.40
76.00
71.38
75.42 71.46
71.90
68.94
66.04
56.34
47.17
78.50
82.50
75.00
77.00 80.50 75.50
74.50
73.00
61.50
51.00
separately.
fEffective Aug. 1976 SURVEY, scrap excludes imports of rerolling rails
iron excludes sponge iron imports previously included.
If Effective with 1974 annual and Jan, 1975 figures, data reflect expanded sample
clusion of direct-reduced (prereduced) iron, previously included m scrap series.

72.81
75.50
and pig
and ex-

S-32

SURVEY OF CURRENT BUSINESS

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

1977

Annual

October 1978

Aug.

Sept.

Oct.

1978

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

METALS AND MANUFACTURES—Continued
IRON AND STEEL—Continued
Ore

Iron ore (operations in all U.S. districts):
Mine production
.-thous. lg. tons.. 79,200
77,216
Shipments from mines
do
40,967
Imports.
do
U.S. and foreign ores and ore agglomerates:
117,697
Receipts at iron and steel plants
do
Consumption at iron and steel plants
do
114,324
Exports
do
2,913
75.035
Stocks, total, end of period
do
14,026
At mines
do
At furnace yards
do
56,246
4,763
At U.S. docks.
do....

54,698
54,296
37,905

1,805
5,590
4,961

1,763
2,459
4,245

1,548
2,579
4,083

1,450
1,740
4,207

3,843
4,051
3,145

5,104
3,871
0

4,820
2,475
1,316

6,425
2,489
1,643

6,034
5,299
1,291

7,751
8,558
2,102

7,988
8,754
2,182

7,559
9,757
3,686

94,944
108,462
2,143

10,566
9,074
147

7,958
8,504
2

7,351
8,685
100

6,387
8,185
18

7,697
8,469
111

4,408
8,735
87

4,185
8,321
2

4,639
9,048
2

6.363
9,379
390

10,907
10,114
393

11,448
10,216
403

11,787
9,940
143

59,390
14,140
42,271
2,979

67,211
16,460
47,224
3,527

65,923
15,739
46,678
3,506

63,523 60,745
14, 695 14,373
45,344 43,354
3,484 3,018

59,390
14,140
42,271
2,979

56,342
15,358
37,915
3,069

54,092
17,702
33,701
2,689

53,084
21,687
29,195
2,202

50,360
22,411
26,199
1,750

49,862
21,598
26,903
1,361

51,887
20,968
28,127
22,792

51,561
18,772
29,939
2,850

1,053

834

87

110

49

21

64

94

50

113

49

71

55

82

69

81,328
82,017
1,309

6,763
6,832
1,573

6,566
6,650
1,530

6,636
6,753
1,419

6,121
6,228
1,356

6,419
6,498
1,309

6,390
6,452
1,271

5,971
6,061
1,200

6,894
7,013
1,108

7,189
7,316
1,916

7,936
7,969
997

7,754
7,770
1,014

7,515
7,525
1,080

7,391

••7,611
1,068

«183.11

178.00

191.00

191.00

191.00

191.00

191.00

191.00

191.00

191.00

191.00

191.00

191.00

203.00

203.00

935
14,966
7,207

940
1,276
658

870
1,264

891
1,355
639

854
1,235
587

935
1,077
531

949
1,090
543

990
1,161
596

1,009
1,327
646

1,969
1,301
663

976

1,423
737

••984
1,406
'734

954
1,145
592

U25,333 10,392
78.4
77.2

10,050
77.2

10,442
77.7

9,748
75.0

10,031
74.7

10,301
77.2

9,643
80.1

11,083
83.1

11,528
88.5

12,320
91.5

11,861
91.1

11,388
85.1

11,550
86.3

11,467
88.6

441
131
111

152
132

429
151
131

431
139
122

451
132
115

494
152
135

461
141
124

502
158
138

512
153
133

492
168
145

501
••162
'140

539
118
102

7,188

7,020

7,323

7,539

8,718

8,055

8,610

8,787

321
355
613
140

311
380
636
140

352
376
649
136

344
354
596
132

425
421
738
157

434
413
714
146

491
460
767
155

467
444
772
141

S93
393
694
111

457
426
697
123

1,253
786
314
146

1,239
731
371
130

1,221
769
284
161

1,236
754
307
169

1,438
854
384
191

1,423
827
412
177

1,509
884
437
180

1,524
904
430
182

1,272
661
359
149

1,463
845
436
174

639'
174
400
3,292
1,099
1,417

672
165
431
3,046
1,103
1,201

636
192
461
3,300
1,127
1,382

708
198
645
3,326
1,190
1,373

804
235
566
3,933
1,406
1,644

737
231
449
3,509
1,207
1,445

779
228
502
3,719
1,297
1,527

737
235
549
3,918
1,349
1,629

643
175
472
3,455
1,176
1,430

698
211
498
3,720
1,316
.1,512

4,709 2 1,332
2,497
926
5,257 U,647
2 251
856
2 447
1,577
2 536
1,652
7,977 2 2,291

1,440
849
325
1,819
307
521
528
2,505

Manganese (mn. content), general imports...do—

348

Pig Iron and Iron Products

Pig iron:
86,870
Production (excluding production of ferroalloys)
thous. sh. tons.. 86, 929
1,513
Consumption
do
Stocks, end of period
do
3 182. 33
Price, basic furnace
.
$ per sh. ton..
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
832
thous. sh. tons..
14,168
Shipments, total
do
6,859
For sale
--do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
56
thous. sh. tons..
848
Shipments, total
do
491
For sale
do
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh. tons.. 128,000
80.9
Rate of capability utilization*
percent..
Steel castings:
Orders, unfilled, for sale, end of period
431
thous. sh. tons..
1,804
Shipments, total
do
1,513
For sale, total
do

65
826
457

451
1,711
1,483

Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons. »89,447 91,147 7,737 7,662 7,400
By product:
4,384
311
359
i 3,991
357
Semifinished products
do...
4,187
4,382
409
334
Structural shapes (heavy), steel piling.__do...
362
7,160
7,529
581
581
Plates
do...
587
2,017
1,863
145
155
Rails and accessories...
do...
169
114,
234
1,297
15,420
1,296
1,297
Bars and tool steel, total
do.
i 8, 664 9,362
791
757
775
Bars: Hot rolled (incl. light shapes) do.
i 3,876
343
4,179
372
369
Reinforcing
do.
1,618
155
1,794
160
146
Cold
finished..
.do.
6,265
657
7,490
677
654
Pipe and tubing
.do.
2,461
201
2,400
199
203
Wire and wire products
do.
6,436
453
6,382
656
539
Tin mill products
do.
42,303
3,363
41,687
3,463
3,493
Sheets and strip (incl. electrical), total_.-do.
15,090
14,558
1,164 1,156
1,205
Sheets: Hot rolled
do.
18,265
17,684
1,480 1,407
1,422
Cold rolled
do.
By market (quarterly shipments):
« 14,615 U5,346
3,844
Service centers^and distributors©
do
< 7,508
4 7,553
1,95V
Construction, incl. maintenance©
do
4,502
4,500
1,148
Contractors' products
do
21,351
21,490
5,109
Automotive
...do
3,056
806
3,238
Rail transportation
do
5,180
1,324
5,566
Machinery, industrial equip., tools
do
1,748
6,914
6,714
Containers, packaging, ship, materials-..do
6,446
4 26,371 4 26,740
Other©
do
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil. sh. tons..
34.6
34.2
36.4
35.8
Producing mills, inventory, end of period:
Steel in process..
mil. sh. tons..
12.2
10.6
10.5
10.1
11.5
Finished steel
do
7.1
6.9
7.5
7.6
7.2
Service centers (warehouses), inventory, end of
period
mil. sh. tons..
6.5
6.9
6.5
Consumers (manufacturers only):
Inventory, end cf period
do
10.2
10.0
10.5
10.1
9.8
Receipts during period
do
5.3
5.3
5.5
62.6
63.4
Consumption during period
do
5.3
63.9
5.7
5.6
62.9
f
Revised.
P Preliminary.
1 Annual data; monthly or quarterly revisions are not
available. 2 For month shown. 3 Avg. for 8 months; price not available for July-Oct.
ZSv

note

"®"

for this

a

e

P £ -

6Av

&-

for n

m o n t h s ; F e b . price n o t available.

New series. Source: American Iron and Steel Institute. The production rate of capability utilization is based on tonnage capability to produce raw steel for a full order book




4,179
2,079
939
5,117
820
1,477
1,790
7,179

3,746
1,769
1,051
4,996
775
1,428
1,296
6,519

33.9

34.1

34.1

33.1

32.6

32.5

'33.7

33.7

10.2
7.3

10.1
7.6

9.4
7.4

9.1
6.8

9.2
7.0

9.5
7.3

'9.7
7.0

6.4

6.7

6.6

'7.1

7.2

9.9
5.2
5.2

10.0
5.9
5.8

9.7
5.7
6.0

6.2
6.1

'9.8
6.1
'6.1

6.5

G.6

10.0
7.8
6.4

9.9
4.9
5.0

9.8
4.6
4.7

9.9
5.1
5.0

10.8
7.0

10.1
5.0
4.7

based on the current availability of raw materials, fuels and supplies, and of the industry s
coke, iron, steelmaking, rolling andfinishingfacilities. Data prior to 1975 are not available.
©Beginning Jan. 1976, data are not comparable with those for earlier periods since oil &
gas supply houses and pipelines, which were formerly shown in "Service centers and distributors" and "Construction, incl. maintenance," respectively, are now included in Other.

October 1978

S1JNE SIS

O F <JUKI iEJN'l

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

S-33
1978

1977

Annual

Aug.

Sept.

Oct.

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..
Recovery from scrap (aluminum content)..do
Imports (general):
Metal and alloys, crude
Plates, sheets, bars, etc
Exports:
Metal and alloys, crude
Plates, sheets, bars, etc...

_

4,251
1,346

4,539
1,367

376
116

367
119

386
108

380
113

395
106

400
110

366
104

395
117

387
114

405
114

395
118

408
107

410
125

..do
do

568.7
87.1

673.3
73.8

75.9
8.0

42.2
8.0

49.6
5.8

54.5
5.1

57.5
7.1

30.0
1.5

36.0
2.8

46.1
3.1

29.5
2.4

41.2
2.1

30.8
4.8

27.8
5.2

...do
do

152.4
222.1

97.8
207.9

9.3
18.7

9.0
15.7

2.9
13.9

8.9
11.6

7.2
22.8

3.7
13.0

5.7
19.6

6.1
19.0

4.2
14.8

9.3
17.3

8.5
15.1

11.0
14.5

.4449

.5132

.5300

.5300

.5300

.5300

.5300

.5300

.5300

.5300

.5300

37.7
2.4
7.0
19.5
.5300

.5300

.5300

.5300

12,568
9,716
5,584
1,845

13,199
10,420
6,041
'2,009

1,084
867
497
165

1,050
878
509
••165

1,055
869
507
••176

1,001
830
475
••175

1,146
846
496
••155

' 987
'844
476
158

1,072
889
504
170

1,265
986
552
184

1,118
933
528
164

1,233
'988
565
172

1,262
995
556
172

1,113
884
510
126

5,644

5,606

5,685

5,725

5,685

5,811

5,802

5,732

5,751

' 5,697

102.5
69.1
66.3
2.8
21.0

107.5
88.5
85.1
3.4
25.0

124.8
118.2
110.9
7.3
26.0

124. 5
125.2
118.9
6.3
26.0

124.6
120.2
112. 7
7.5
28.0

125.4
116.3
108.7
7.6
29.0

122.5
116.0
99.8
16.2
31.0

133. 5
134.6
124.4
10.2
41.0

129.3
119.8
113.7
6.1
41.0

133.7
129.6
119.3
10.3
41.0
62.6
47.8
28.1
11.4

Price, primary ingot, 99.5% minimum..$ per l b . .
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)_...
Mill products, total-.
Sheet and plate
Castings

mil. l b . .
do
do
---do

Inventories, total (ingct, mill products, and
5,685
5,631
scrap), end of period
...mil. lb..
Copper:
Production:
Mine, recoverable copper
thous. sh. tons. il,605.6 1,518.0
Refinery, primary
d o — 11,539.3 1,496.2
1,411.0
U,422.7
From domestic ores
do
1
85.2
116. 6
From foreign ores
do
364.0
353.0
Secondary, recovered as refined
do—
Imports (general):
Refined, unrefined, scrap (copper cont.)--.do.
Refined
_.
-do.
Exports:
Refined and scrap
do.
Refined
do.

547. 4
384.1

528.1
394.0

49.1
39.7

37.3
31.7

42.5
32.1

43.8
28.6

71.3
55.8

64.0
47.4

55.5
45.9

69.3
58.2

94.5
77.9

250.0
113.1

220.3
52.7

17.5
1.6

22.0
4.4

16.6
4.6

14.7
5.0

22.8
6.9

17.1
4.7

19.1
4.9

24.2
11.9

20.4
7.3

1,995
651
177

2,202
649
178
. 6677

598
227

582
168

577
160

614
152

658
164

647
151

.6379

.6062

.6062

.6062

.6362

.6359

526

Consumption, refined (by mills, etc.)
-do
Stocks, refined, end of period
do...
Fabricators'
-do...
Price, electrolytic (wirebars), dom., delivered
$per lb_.
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.

2,517
2,383
547

2,668
2,667

Lead:
Production:
Mine, recoverable lead
thous. sh. tons.
Recovered from scrap (lead cont.)
do...

1609.5
682.5

i 589.2
734.4

52.1
62.6

46.2
65.7

49.1
62.6

48.7
60.3

51.1
61.2

49.8
54.7

45.0
56.4

57.1
63.7

49.4
57.8

Imports (general), ore (lead cont.), metal.-.do
Consumption, total
do.

224.6
1,429.1

204.3
1,484.3

39.8
124.0

10.0
133.5

4.6
132.7

9.2
120.0

12.0
121.8

5.4
122.5

3.4
115.0

13.2
125.2

7.7
122.5

180.7

184.6

183.4

192.7

189.7

187.7

184.6

182.1

176.4

184.4

43.7
110.1

15.4
109.3

12.7
119.7

11.1
118.2

13.5
112.9

15.9
111.2

15.4
109.3

15.4
106.0

15.8
111.7

20.0
119.4

96.0
.2310

91.3
.3070

90.5
.3100

88.7
.3100

84.8
.3102

91.3
.3200

91.3
.3852

97.6
.3300

94.2
.3300

Tin:
Imports (for consumption):
Ore (tin content) tmetric tons.
Metal, unwrought, unalloyed!
do...
Recovery from scrap, total (tin cont.)t
do...
Asmetalf
do___
Consumption, totalf
do...
Primaryf
do...

5,733
45,055
16,446
1,467
62,928
53,850

6,724
48, 338
15,380
1,790
68,000
55,500

0
4,406
1,435
165
5,800
4,500

0
3,541
1,380
155
5,900
4,700

0
4,056
1,400
240
5,400
4,400

607
4,120
1,215
100
5,000
4,100

1,089
3,800
1,165
120
5,100
4,300

169
2,911
1,160
175
5,400
4,500

Exports, inch reexports (metal)t
do...
Stocks, pig (industrial), end of periodt
do...
Price, Straits quality (delivered)*
$ per lb.

2,337
7,282
'3.7982

235
5,462
5,557
8,441
5.3460 5.5637

498
5,378
5. 5638

594
9,214
6.0794

238
7,272
6. 2093

430
8,441
6.1518

324
7,626
5.9230

41.2

36.4

37.2

35.5

35.3

33.9

33.2

35.3

35.2

33.1

11.8
47.1

26.5
54.4

12.5
60.6

3.8
64.9

10.9
43.4

13.7
35.1

17.9
65.1

13.0
78.8

7.7
28.2

8.3
28.2

8.2
27.2

7.0
27.2

7.8
27.2

8.4
28.6

28.4

9.9
16.4

Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS
thous. sh. tons..
Refiners' (primary), refined and antimonial
(lead content)
thous. sh. tons..
Consumers' (lead content) d"
do
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. sh. tons..
Price, common grade, delivered
..$ per l b . .

ZincMine prod., recoverable zinc
Imports (general):
Ores (zinc content).-Metal (slab, blocks)

thous. sh. tons.
do...
do...

Consumption (recoverable zinc content):
Ores
do.
Scrap, all types
.do.

.6956

484.5

484

3

457.7

97.1
714.5

121.9
575.5

11.3
55.4

9.3
42.2

202.3

100.8
238.2

9.2
15.8

10.6
28.8

Slab zinc: §
Production (primary smelter), from domestic
22.5
and foreign ores
thous. sh. tons..
498.9
21.7
392.6
31.1
3.4
3.1
Secondary (redistilled) production
do
63.6
3.7
41.4
96.0
Consumption, fabricators
do
1,134.1 1,103.1
95.0
98.4
Exports
do
3.5
.2
(2)
00
(2)
Stocks, end of period:
60.3
59.7
Producers', at smelter (ABMS)O
do.
64.7
65.8
76.9
81.9
86.2
Consumers'
do
111.8
86.8
.3400 .3190
.3400
Price, Prime Western
$ per l b . .
.3701
. 3439
r
1
2
Revised.
Annual
data; monthly revisions are not available.
Less than 50 tons.
3
4
See "*" note.
For month shown.
d" Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
§ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased
or direct shipment.
O Revised Dec. 31 stocks for 1970-73 (thous. tons): 124.2; 48.6; 30.1,
25.9. Producers' stocks elsewhere, end of Aug 1978, 31,445 tons.




566

620
144

648
162

637

5,709
' 128. 0
128.4
121.4
7.0
44.0

97.7
104.8
95.9

63.8
53.4

46.5
39.2

26.5
10.1

23.3
7.2

38.9
28.7
31.6
10.2

635
642
156
.6657

.6408

.6723

'35.5

47.5

11.0

11.0

117.4

'40.1
62.1
4.8
121.6

189.8

198.6

198.5

199.2

31.4
111.9

••31.4
119.7

83.7
.3300

82.8
.3300

73.8
.3100

32.1
115.9
64.4
.3100

.3100

.3217

273
4,727
1,255
145
5,000
3,700

664
5,070
1,505
125
5,500
4,100

439
4,369
1,485
135
5,200
3,900

635
3,438
1,555
160
5,700
4,200

40
5,413
1,630
155
5,400
4,000

62
3,144

355
3,382

380
6,628
5.9336

579
6,291
5.5757

617
7,785
5. 3962

405
8,139
5. 7027

582
683
137

657
599
146

583

649
178
.6194

.6241

.6462

.5300

.6763

649
679
145

54.3
64.3

.3406

4,600
3,500

274
384
' 7,846 7,802
6.0092 6. 0700

i. 3925

19.0
56.1

6.0
49.9

25.
47.4

'8.6
15.9

8.8
15.6

508
6. 7484

3,174
30.1
31.3
27.0
30.0
32.0
36.6
38.0
36.9
3.2
2.7
3.4
2.9
3.4
3.7
2.6
3.1
2.9
84.3
-99.9
84.0
99.0
96.0
93.0
85.9
79.6
88.2
2
2
1
2
1
1
)
()
()
()
27.4
32.5
50.0
31.8
40.
56.9
64.3
62.8
65.3
65.8
88.1
93.2
86.4
83.6
82.5
81.0
76.7
76.2
86.8
.3237
.2980 . 3116
.2900
.2901
.3006
.2900
.2900
.3050
.3073
.3050
* New series effective with data for Jan. 1976, Source: Metals Week. MW Composite monthly
price (Straits quality, delivered) is based on average of daily prices at two markets (Penang,
Malaysia—settlement, and LME 3-month—High grade), and includes fixed charges plus
dealer's and consumer's 70-day financing costs; no comparable earlier prices are available.
t Effective with the Apr. 1977 SURVEY, data are expressed in metric tons (to convert U.S.
long tons to metric tons, multiply by factor, 1.01605).

October 1978

SURVEY OF CURRENT BUSINESS

S-34
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

1977

Annual

1977

Aug.

Sept.

Oct.

1978

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly. 9 O
mil. $....
Electric processing heating equip
.do....
Fuel-fired processing heating equip
do
Material handling equipment (industrial):
Orders (new), index, seas, adj
..1967=100..
Industrial trucks (electric), shipments:
Hand (motorized)
,
number..
Rider-type..
do
Industrial trucks and,tractors (internal combustion
engines), shipments
number..
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1967-69=100..
Indust rial suppliers distribution:
Sales index, seas, adjusted
1967=100..
Price index, not seas. adj. (tools, material handling
equip., valves, fittings, abrasives, fasteners,
metal products, etc.)
1967=100..
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $..
Domestic
do
Shipments, total
.do
Domestic.
.do
Order backlog, end of period
do
Metal forming type tools:
Orders, new (net), total
.do
Domestic
_
...do
Shipments, total
do
Domestic
do
Order backlog, end of period
do
Tractors used in construction, shipments, qtrly:
Tracklaying, total
units..
mil. $..
Wheel (contractors' off-highway)
..units..
mil.$_.
Tractor shovel loaders (integral units only), wheel
and tracklaying types
_
units..
mil.$._
Tractors, wheel, farm, nonfarm (ex. garden and
construction types), ship., qtrly
.units..
il$
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship

thous..

Radio sets, production, total market
thous..
Television sets (incl. combination models), production, total market.-.
thous..
Household major appliances (electrical), factory
shipments (domestic and export) 9
thous..
Air conditioners (room)
...do
Dishwashers
do...
Disposers (food waste)
do....
Ranges
_
do
Refrigerators
do
Freezers.
do
Washers
do .
Dryers (incl, gas)
do....
Vacuum cleaners (qtrly.)
do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments.thous..
Ranges, total, sales
do
Water heaters (storage), automatic, sales
do

184.3
35.8
77.3

1 240.8
168.0
J92.5

167.5

232.3

206.7

280.4

244.0

296.0

278.5

286.5

246.2

298.6

334.0

362.1

351.0

15,786
16,152

18,000
21,409

1,535
1,844

1,705
1,661

1,760
1,930

1,675
1,901

1,652
1,867

1,363
1,614

1,775
1,912

1,897
2,441

1,539
2,173

2,043
2,241

1,815
2,128

1,297
1,609

1,699
2,190

33,930

43,289

3,442

3,887

3,809

3,316

2,893

3,219

4,378

4,675

4,312

3,839

5,200

3,106

4,645

67.3
14.8
28.8

65.7
16.0
30.3

54.0
18.5
17.6

51.8
15.3
36.5

165.4

199.2

195.4

200.0

206.2

207.5

211.4

213.8

215.4

218.6

222.8

226.2

228.3

227.5

225.4

183.8

207.4

218.6

224.7

214.7

212.3

208.8

208.9

208.7

224.0

233.6

233.9

242.2

238.6

243.3

253.7

178.4

191.4

192.7

193.6

195.4

196.3

196.8

198.6

199.8

200.6

201.5

202.3

203.7

205.6

206.9

207.8

., 662.15 !, 202.05 147.70 198.50 160.10 222.65
., 476. 60 ,980.70 135.95 174.40 150.55 205.95
., 482.10 ,650.80 106.25 166.50 141.55 163.05
97.75 147.55 131.40 140.75
., 269.85 ,469.85
1,242.4 1,793.6 1,637.3 1,669.3 1,687.8 1,747.4
102.95
97.35
38.70
34.05
320.2

53.65
50.80
44.95
41.10
328.9

79.80
74.85
51.55
47.15
357.2

63.45
59.05
58.90
48.90
361.7

250.40
222.45
204.15
175.20
, 793.6
68.30
62.25
55.90
50.70
384.1

230. 55 234.40
205.45 210.00
146.25 151. 60
130.95 140.35
1,877.9 1,960.7
83.80
76.35
63.00
55.55
394.9

258.90
230,80
206.00
188.35
2,013.6
65.40
62.60
66.35
61.40
420.9

76.95
71.30
50.00
44.30
421.9

568.05
508.95
577.55
473.50
209.2

794.85
730.70
629.95
560.35
384.1

19,533
1,025.7
3,772
238.3

19,942
1,127.8
r 5,271
' 330.1

4,560
265.2
1,461
'84.3

5,051
303.8
1,284
86.3

5,820
350.1
1,556
107.9

34,543 r 42,730
975.7 1,328.2
207,036 207,239
2,451.5 2,758.7

'10,161
r 319.8

10,134
319.3

11,813
393.3

39,271
534.6

47,863
668.5

45,912
693.5

49,203
44,102

64,601
52,926

5,079

5,667

5,853 2 7,209

6,060
4,891

5,194
5,061

5,878
2 6,231

4,711
2,700

3,975

4,209
2,907

2
2

5,422

302.20 267.40 316. 95 249.30 291.30
273. 70 235.30 280.55 231.20 270.90
178. 70 189.45 216.05 137.75 v 159.70
158. 65 175.25 193.05 123.55 141.05
2,137.1 2,215.7 2,315.9 •2,427.5 P2,559.1
76.70
70.80
64.25
55.45
433.4

87.45
80.20
66.25
61.20
454.6

75.80
69.60
76.90
68.95
453.5

72.25 » 100.30
66.95 v 94.40
70.65 p 54.60
64.40 P49.80
455.1 P500.8

5,926 31, 356
361.0 3 84. A

47, 931 3 9, 748
706.6 3132. 9

3,287
3,272

3,456
3,883

3,695

3,703

5,248

'5,585

4,328

4,313

1

i 2,044
2,720
101
288
287
274
528
115
468
340

1,674

1,368

1,288

i 1,678

1,225

1,279

2,422
270
266
273
230
388
114
410
287

3,343
569
345
291
305
569
150
513
375
1,747

3,100
703
307
280
293
480
118
416
296

3,205
639
330
277
307
536
153
446
288

3,247
591
320
280
296
604
191
435
271
3,084

2,616
307
211
255
249
548
163
376
246

2,789
111
301
278
294
586
168
469
327

124
141
242

133
156
270

130
154
286

106
174

14,131

15,432

1,068 21,653

1,380

1,366 2 1,359

1,103

1,197

25,800
12,962
3,140
2,515
2,462
4,817
1,548
4,492
3,173
9,285

30,951
3,270
3,356
2,941
3,009
5,707
1,598
4,933
3,553
9,392

2,828
106
312
273
291
599
203
495

2,732
91
276
271
285
566
143
468
376
340

2,647
102
339
272
278
461
97
414
344

2,529
153
321
272
280
435
77
385
329

2,153
184
258
221
250
350
76
340
273
4,411

2,195
233
230
234
216
360
100
348
263

1,554
1,824
3,112

1,508
1,746
< 3,070

128
147
235

144
161
208

153
143
250

128
145
208

140
158
245

121
110
230

4,831

PETROLEUM, COAL, AND PRODUCTS
COAL

Anthracite:
570
595
Production $__
_
thous. sh. tons
610
340
430
6,200
605
550
600
6,228
550
31
43
52
Exports
_
do
33
24
60
94
75
615
625
55
11
Price, wholesale, chestnut, f.o.b. car at mine
47.192 47.192
$persh. ton.. 46.428 46.579 46. 579 46.579 46.579 46.579 46.579 46.579 46.579 46. 579
Bituminous:
62,220 65,565 52,150
Production J
thous. sh. tons.. 678,685 688, 575 57, 560 69,200 67,420 68, 715 30,930 23,115 23,520 38,765
r
9 Includes data not shown separately.
» Preliminary. * Annual data; 3monthly or quarterly revisions
not avail.
i Revised.
4
JMonthly revisions back to 1973 are available upon request.
Data coyer 5 weeks; other periods, 4 weeks.
For month shown.
Beginning July
©Effective 1976, data reflect additional reporting firms.
1977, data include shipments to mobile home and travel trailer manufacturers (formerly
excluded); they are not directly comparable with those for earlier periods.




575

66
47.498

47.542

62,005

54,150

October 1978

SU1

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

' OF CUKKENT BUSINESS

1977

Annual

S-35
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Mar.

Feb.

Apr.

May

June

51,827 55, 429
40, 593 44, 035
10,758 10, 943
6,382 6,531

July

Aug.

Sept.

PETROLEUM, COAL, AND PRODUCTS—Continued
COAL—Continued
Bituminous—Continued $
Industrial consumption and retail deliveries,
total 9
thous. sh. tons.. 598,750 ••619,632
447,021 474, 818
Electric power utilities
..do
144,817 ••137,785
Mfg. and mining industries, total
do
84,324 ' 77,396
Coke plants (oven and beehive)
do

54,758
43, 957
10,475
6,164

6,900

7,020

325

133,555
116,436
16,879
9,804

152,317
130,951
21,146
12,721

36,832
21,249
15,393
9,043

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
Price, wholesale.

do
Index, 1967=100..

50,622 50,191
40,008 38, 220
10,203 11,440
5,883 6,335

50,245
38,107
11,462
6,033

53,687
41,071
11,691
6,016

54,405
42,594
10,916
5,399

46,014
35,737
9,386
4,155

43,810
33,923
9,237
3,988

45,504
34,545
10,418
5,501

48,753
37,125
11,132
6,406

530

675

925

895

891

650

540

495

44, 953 158.164 .73,063 152,317 18,121 93,130
27, 723 [37,165 47,143 130, 951 02,792 82,437
16,990 20,724 25, 560 21,146 15,147 10,574
10,410 12, 599 15,500 12,721 8,130
5,067

83,942
75,081
8,747
3,750

410

475

450

96,462 L10,886 .21,588 .19, 791
85,772 98,472 .07,498 .07,443
10,555 12,239 13,780 12, 058
5,602
7,129 8,237
6,604

240

220

190

240

275

360

220

182

114

135

175

310

290

59,406
367.5

53,687
388.6

4,279
393.7

5,037
394.4

4,871
397.0

4,489
399.4

3,910
401.6

199
403.2

109
16
404.6 ' 406.5

940
426.6

1,548
432.6

1,730
434.7

1,223
437.2

2414
605
57,728 2 53,060
26,769
26,029

36
4,259
2,270

36
4,087
2,373

32
4,305
2,202

33
4,186
2,244

32
4,077
2,236

29
3,603
2,177

29
2,741
2,014

29
2,661
2,321

29
3,753
2,137

33
4,398
2,286

'29

29
4,455

6,213
6,023
190
2,033

6,391
6,220
171
2,001

6,526
6,369
157
1,980

6,442
6,306
136
2,050

5,937
5,772

164
2,095

5,209
5,059
150
2,146

3,461
3,373
87
2,270

3,189
3,107
81
2,321

2,993
2,910
83
2,380

2,938
2,848
90

2,846
2,731
114

3 159

142

62

81

42

56

103

74

53

46

1,875
288.1
463. 5

1,184
288.8
449.8
85

1,486
289.7
401.2
84

1,499
293.4
447.9
85

1,369
294.3
426.3
83

1,209
295.5
472.2

1,812
298.8

1,503
301.8

1,516
302.7

1,619
305.7

119

1,251
442.6

442.9

COKE

Production:
Beehive
Oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants, total
At furnace plants
At merchant plants
Petroleum coke

thous. sh. tons..
_
...do
do
-do
do
do
do

6,487
6,173
314
2,127

6,442
6,306
136
2,050

6,292
6,084
208
2,086

.do

1,315

1,241

136

17,059
253.6
5,081.4
89

18,886
274.2
5,468.4
90

1,400
273.1
466.0
90

1,924
276.1
457.5
91

1,562
278.6
465.9

1,785
282.9
449.6
89

6,253.6

6,785.8

573.0

558.5

570.7

549.3

571.3

561.6

503.6

585.4

• 537. 4 549.6

2,976.2
601.0

2,985.4
608.8

255.5
51.1

252.5
49.1

263.7
52.0

255.4
50.4

261.1
52.5

258.8
50.1

234.4
45.3

237.0
50.9

261.2
'49.9

272.8
48.9

1,946.7
729.7

2,408.7
782.9

200.1
66.3

193.8
63.1

198.5
56.5

190.0
53.5

191.3
66.4

189.2
63.5

159.2
64.7

190.3
71.2

163.5

173.1
54.6

Exports

(3)

PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number..
Price, wholesale
Index, 1967=100..
Gross input to crude oil distillation units, .mil. bbl..
Refinery operating ratio
% of capacityAll oils, supply, demand, and stocks:
New supply, total cfj
_
mil. bbl..
Production:
Crude petroleum %
do
Natural-gas plant liquids
do
Imports:
Crude and unfinished oils X
do
Refined products %...
.do
Change in stocks, all oils (decrease,—)
do..
Demand, total X
Exports:
Crude petroleum
Refined products
Domestic product demand, total 9 X
Gasoline
Kerosene.
Distillate fuel oil X
Residual fuel oil t—
Jet fuel..
Lubricants X
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

-21.1

199.4

29.8

34.5

32.6

9.7

-34.5

-43.9

-76.1

-23.5

..do..

6,472.3

6,811.2

565.4

540.8

560.7

560.3

629.9

618.4

590.3

616.8

do.
do.

18.3
70.3

2.7
6.1
532.0
220.8
3.8

3.0
4.9

.2
5'. 6

1.9
6.5

552.7
222.2
5.9

1.4
5.7
553.2
216.8
5.0

2.1
6.4

6,722.6
2,633. 3
63.3

1.1
6.0
558.3
231.4
3.6

2.6
5.3

do..
do..
do..

2.9
78.7
6,390.8
2,567.2
61.9

621.4
229.4
8.5

610.4
207.6
9.6

do.
-do
-_-do.

1,146.7
1,025.1
361.4

1,223.3
1,116. 6
379.7

81.7
94,4
34.5

81.5
87.8
31.5

94.2
83.9
31.5

102.6
84.6
31.1

130.3
104.3
33.7

do..
do_.
do..

55.7
146.8
514.0

58.3
156.0
519.6

5.5
20.8
36.6

4.8
18.3
36.6

5.0
17.3
43.8

4.7
11.4
47.6

4.3
7.0
54.4

do..
do.
do.
do.

1,111.8
285.5
118.6
707.7

1,311.2 1,268.9 1,303.4
334.2
347.6
338.3
120.9
121.8
117.7
848.3
841.8
812.8

do..
do..
do..

2,517.0
1.3
234.3

2,582.0
.7
260.7

224.3

213.4

259.6

258.7

0)

0)

3.4
6.5
571.8
541. 5
2.8
7.4

3.8
5.9

584.5
193.6
8.8

608.4 ' 531. 4
226.2
217. 3
6.0
3.2

562.1
241.0
3.8

137.6
108.4
30.4

135.3
111.0
31.0

126.8
109.6
34.5

92.8
89.7
30.4

94.4
82.7
30.8

4.3
4.6
57.6

4.4
4.6
50.4

4.8
7.7
44.2

5.3
10.4
'34.7

5.5
15.2
36.2

, 336.0 1,345.7 1,311.2 ., 267.4 1,191.2 1,167. 7 1,174. 2 1,177. 6
363.8
365.0 354.6
350.2
343.2
347.6
351.2
350.1
120.2
123.4
123. 0 124.0
122.4
121.8
118.3
121.6
680.6
875.4
870.5
686.1 699.0
841.8
719.6
797.8
216.0
.1
258.0

Prices (excl. aviation):
257.5
259.6
Wholesale, regular
Index, 2/73=100—
253.3 260.5
233.6
Retail (regular grade, excl. taxes), 55 cities
.518
.515
(mid-month)
$ per gal.507
.517
.474
Aviation gasoline:
1.0
1.5
14.2
Production
mil. bbl.
1.4
13.3
0)
.1
Exports
do
0)
0)
.2
2.8
2.8
3.0
2.6
Stocks, end of period
...do...
2.8
Kerosene:
4.2
5.1
Production
.do...
62.0
3.8
55.7
19.9
20.5
19.5
Stocks, end of period
do...
18.0
12.5
Price, wholesale (light distillate)
363.5
312.3
358.1
362.8
Index, 1967=100..
374.9
2
' Revised.
1 Less than 50 thousand barrels.
Reflects revisions not available by
months.
3 Oct. includes exports for Sept.
* Oct. 1978 mid-month price: $0.547.
9 Includes data not shown separately.
§ Includes nonmarketable catalyst coke.




62.7

214.9
.1
261.5

222.6
0)
260.7

215.8

186.4

210.1

201.2

220.1

275.3

274.0

262.3

251.6

236.1

256.3

255.8

255.1

252.9

252.0

253. 0

255.6

260.6

266.1

271.1

274.6

.512

.511

.510

.512

.517

.524

.533

.542

4.545

.8
0
2.4

1.1
0
2.4

5.9
11.9

4.0
12.9

1.3
0
2.4
4.2
13.6

.513

.511

(0

(0

1.2
0)
2.9

0)

3.0

0
3.0

.7
0
2.9

5.6
20.5

5.7
18.0

5.5
14.3

5.3
11.5

1.0

0)

0)

(0

395.5
393.9
392.1
388.4
390.6 391.1
388.2
379.3
383.0
381.2
cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.
X Monthly revisions back to 1973 for bituminous coal and back to 1974
for petroleum and products are available upon request.

October 1978

SURVEY OF CURRENT BUSINESS

S-36
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
t h e 1975 edition of B U S I N E S S S T A T I S T I C S

1976 P

1977 P

Annual

1978

1977

Aug.

Sept.

Oct.

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.
ImportsJ
do...
Exports.
do...
Stocks, end of period.
do...
Price, wholesale (middle distillate)
Index, 1967=100.
Residual fuel oil:
Production
mil. bbl.
Imports!
do...
Exports.
do...
Stocks, end of period
do...
Price, wholesale
...Index, 1967=100.
Jet fuel:
Production
mil. bbl.
Stocks, end of period
do...
Lubricants:
Production
do...
Exports
..do...
Stocks, end of period.
..do...

1,070.2
53.5
.4
186.0

1,197.1
90.5
.5
250.3

337.0

101.5
5.0
(2)
229.8

99.4
5.1
(2)
252.8

104.3
4.6
.2
267.4

100.2
5.6
.1
270.6

103.0
7.0
.1
250.3

94.7
6.0
(2)
213.4

82.2
5.8
.4
165.9

93.0
5.8
(2)
137.9

88.2
3.0
.2
136.3

99.4
3.7
(2)
145.1

388.8

388.9

389.1

392.2

394.2

396.6

398.6

' 394.8

393.2

393.3

393.2

393.1

393.4

394.1

54.5
52.7
.7
62.2
491. 6

46.6
46.9
.2
66.2
493.2

51.0
37.9
.5
72.4
504.5

507.9

493.9

479.4

10.2

504.0
517.3
4.2
72.3
452.9

639.0
492.6
2.3
89.7
520.3

50.6
44.7
.3
78.8
513.6

52.5
43.7
.1
87.5
512.7

54.2
37.7
.1
95.9
522.1

50.8
32.8
.2
95.2
511.3

57.0
41.8
.4
89.7
510.5

58.0
42.1
.4
81.4
514.8

50.4
43.8
.3
64.9
502.7

335.8
32.1

355.7
34.6

31.3
34.0

30.1
34.2

30.2
34.9

28.5
35.4

30.3
34.6

28.6
34.6

27.8
33.3

30.1
32.0

29.5
34.6

31.4
38.5

61.8
9.5
12.3

64.5
9.6
12.1

5.7
.8
10.4

5.4
.9
10.4

5.8
.7
11.1

5.6
.8
11.6

5.2
.8
12.1

5.1
.8
12.3

4.6
.7
12.1

5.8
.8
12.4

5.7
1.1
12.0

5.9
.7
11.9

__.do._.
do...

139.7
19.4

154.1
18.7

17.4
18.4

15.8
15.9

15.4
14.1

12.7
15.4

10.3
18.7

8.6
22.6

6.7
24.7

9.8
26.8

12.2
28.6

15.9
29.2

Liquefied gases (incl. ethane and ethylene):
Production, total
_do...
At gas processing plants (L.P.G.) d o . . .
At refineries (L.R.G.)..
do...
Stocks (at plants and refineries)
do...

561.9
437.4
124.6
116.3

571.8
443.0
128.9
135.9

47.7
36.6
11.2
140.6

46.1
35.4
10.6
146.7

49.2
38.2
11.0
147.6

48.6
38.1
10.5
143.7

49.8
39.1
10.7
135.9

47.2
37.1
10.1
121.7

43.1
33.6
9.5
111.5

49.5
38.3
11.2
112.6

'47.1
'36.7
10.5
121.5

47.7
36.5
11.2
129.4

Asphalt:
Production
Stocks, end of period.

r

PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulp wood:
Receipts
thous. cords (128cu. ft.).. 73,583
Consumption
do
73,209
6,445
Stocks, end of period
do
Waste paper:
Consumption.
thous. sh. tons.. 12,103
Stocks, end of period
do
779
WOODPULP
Production:
Total, all grades 9
...thous. sh. tons..
Dissolving and special alpha..
_ do
Sulfate
do
Sulfite
do
Groundwood..
do
Soda and semichemical
do
Stocks, end of period:
Total, all mills
Pulp mills...
Paper and board mills..
Nonpaper mills
_
Exports, all grades, total
Dissolving and special alpha
All other
Imports, all grades, total
_
Dissolving and special alpha
All other

do....
do
do
do
do
do
..do
do
do
..do.

6,454
6,537
6,454

5,674
6,171
5,961

5,745
5,545
6,187

5,534
6,406
5,421

6,129
6,251
5,210

6,780
5,382

6,538
6,776
5,151

6,463
6,751
4,844

6,949
6,884
5,020

6, 203
6,090
5,141

840

919
648

836
661

790
661

953
640

910
633

1,030
706

1,005
744

1,059
'745

'976
'753

860
731

4,026
135
3,001
167
387
337

3,668
110
2,738
153
358
308

4,054
93
3,067
169
386
339

3,884
109
2,938
158
377
302

3,489
108
2,592
155
354
280

3,944
131
2,983
172
342
316

3,642
135
2,701
168
326
312

4,149
142
3,149
166
352
340

4,101
113
3,150
165
342
330

4,100
136
3,064
173
'387
'341

4,109
130
3,085
178
389
325

3, 674
114
2,832
132
304
292

330
404
62

714
397
77

642
392
64

774
333
383
58

784
348
385
51

796
330
404
62

1,051
613
379
59

1,062
618
391
53

1,090
613
415
62

1,074
613
397
64

1,069
'611
'395
'63

426
407

1,019
517
436
67

i 2,518
730
i1,787

i 2,640
796
i 1,844

212
63
150

266
83
183

170
56
114

161
50
110

240
72
167

185
61
124

185
62
123

233
83
150

210
46
163

227
71
156

266
80
186

230
69
161

174
54
120

13,727
188
» 3,539

13,864
179
13,686

350
17
332

286
5
282

288
14
274

374
19
356

317
17
299

326
10
316

319
23
297

327
20
307

300
8
292

402
16
296

327
20
307

325
5
320

5,037
2,295
2,270
7
463

4,625
2,159
2,057

5,463
2,444
2,541
11
467

4,861
2,108
2,311
6
436

174.2
8.3

171.1 170.7
170.4 '175.0

68,292
75,035
74,694

6,485
6,396
6,302

10,427
661

920
679

48,804 '49,777
1,454
1,400
333, 701 3 34,823
2,059
2,079
4,520
4,797
3 3, 627 3 4,002
4

1,344
4
656
623
65

4

(•)

5,899
6,524

PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted...thous. sh. tons.. <• 60, 043 60,736 5,416 4,918 5,266
r 26,534
27,280
2,397 2,222 2,340
Paper.
do.
2,414
r 27, 960
27,890
2,475 2,239
Paperboard
_
do.
9
9
9
98
Wet-machine board
do.
502
» 5, 419
535
448
5,468
Construction paper and board..
do.
Producer price indexes:
Book paper, A grade
1967=100..
177.8
180.1
180.4
176-4
190.4
Paperboard
do.
168.8
162.4
166.7
157.0
138.7
Building paper and board..
do.
'1 Revised.
p Preliminary.
Reported annual total; revisions not allocated to the months. 2 Less than 50 thousand
barrels. 3 Beginning with January 1975, data for soda combined with those for sulphate;
not comparable with data for earlier periods.




402

5,003 ' 4,956 • 5,547 ' 5, 242 ' 5,602
2,350 2,297 2,553 2,379 ' 2, 533
2, 230 ' 2, 211 • 2,494 '2,368 ' 2, 559
'10
10
10
8
8
'499
484
439
416

'172.1
174.1 176.5 178.0 178.6
180.1 186.6 188.6 190.7 192.0

184.2
187.0

179.4
179.5
192.9189.8

xclude small amounts of pulp because reporting would disclose the operations of
D a t a ex
1 linns.
firms. »5 Withheld
to
avoid uioviuojii
disclosing .ifigures
*»nimeiu
L
U avun-i
,i*i^ -for
— -individual
— - - _ companies.
*
;
t Monthly revisions back to 1974 are available upon request.
9Includes data lor
not shown separately.
4

individual

b

it

n

October 1978

SUEVEY OF iCURRENT BUSINESS
1976

Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1978

1977

1977

Annual

S-37

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS-Con.
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
thous. sh. tons
Orders, unfilled, end of period
do
Shipments
do
Coated paper:
Orders new
do
do...
Orders, unfilled, end of period
do
Shipments
Uncoated free sheet papers:
do
Orders, new
do
Shipments
Unbleached kraft packaging and industrial converting papers:
Orders, new
thous. sh. tons
Orders, unfilled, end of period
do
Shipments
do
Tissue paper, production
do

1,316
151
1,278

' 1,295
••135
1,290

121
178
115

107
180
105

112
145
115

94
134
110

120
'135
102

121
151
105

98
149
101

118
155
116

111
r 133
111

124
••130
124

••130
rl44

74
146
83

78
149
75

3,956
337
3,981

r 4,279
'398
4,261

396
400
383

358
408
357

369
360
373

342
349
372

384
'398
354

356
348
370

363
382
351

419
403
402

337
'391
359

385
'390
394

••364
••396
'369

333
387
326

377
418
368

r

6,870
7,162

565

542

576

554

595

577

602

622

595

585

591

591

658
'644

'709
661

••665
••648

601

580

702
691

578

621

573

618

3,839
4,186

3,815
r 4,286

323

322

332

305

r

'320
-•369

310

337

348
••388

301

349

326

307

340

366

291

373

317

340

do
do
do

8,915
8,712
299

8,988
9,005
282

713

840

835

738

856

810

434

408

392

416

do .
do
do

3,736
3,728
29

3,870
3,866
34

343
338
65

298
306

336
338
55

do
Consumption by publisherscf
Stocks at and in transit to publishers, (3nd of
period_
thous. sh tons..

6,534

6,772

539

921

796

851

do
Imports
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index, 1967=100

6,569

6,559

558

198.2

215.4

216.7

Paperboard (American Paper Institute):
Orders, new (weekly avg.)
..thous. sh t o n s . ,
Orders, unfilled!
do
v
Production, total (weekly avg.)
do..

552
1 035
547

558
1,037
557

546
1,148
581

Paper products:
Shipping containers, corrugated and solidI fiber
shipments
mil sq ft surf area

216,371

226,088

Folding paper boxes, shipments..thous. sh t o n s . , 2,592.0
mil. $ . . 1,979.0

2,639.0
2,105.0

Newsprint:
Canada:
Production
Shipments from mills
Stocks at mills, end of period
United States:
Production
Shipments from mills
Stocks at mills, end of period

r

6,354
' 6,830

r

368

340

347
373

••345
364

701
835
282

811

826
927
350

843

807

838

823

798

895

853

833

813

372

767
688
452

834

721

333

287

293

303

330
334
51

307
324
34

324
315
43

307
309
41

352
360
34

328
323
38

336
340
34

339
342
30

258
255
33

279
284
28

628

620

597

548

521

600

620

631

586

560

558

800

763

796

774

784

818

818

835

876

898

868

552

610

624

593

530

611

604

639

747

649

680

216.7

216.7

216.7

216.7

216.7

216.7

228.2

228.2

228.2

228.2

518
1,135
519

578
1,146
570

548
1,132
560

479
1 037
478

574
1,143
518

591
1,166
577

610
1,306
593

622
1,385
598

634
1,546
612

622
1,556
612

560
1,560
542

19,694

20,002

19,711

19,285

17,898

17,880

18,669

21,555

19,970 21,759

22,116

231.5
187.4

224.5
181.9

236.9
192.2

215.0
171.9

235.0
188.1

205.2
164.7

210.9
171.7

240.2
194.3

783
757

58
561
827
532
216.7

386

215.7
176.8

230.5
598
1,600
586

584
1,470
573

17,583 22, 311

236.0 ' 229. 8 r 200. 3
193.4 ' 191. 7 r 166. 4

244.8
206.4

RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
.thous. metric tons..
Stocks, end of period
do
Imports, incl. latex and guayule.-thous. lg. tons..

730.73
125.33
712.90

780.13
127.65
792.41

Price, wholesale, smoked sheets (N.Y.)._$ per lb_.

.395

.416

Synthetic rubber:
Production....
Consumption
Stocks, end of period...
Exports (Bu. of Census)
Reclaimed rubber:
Production
Consumption
Stocks, end of period..

thous. metric tons.. 2,303.75 2,417.53
do
2,175.26 2,464.09
d o . . I . 458.12
426.83

70.01
136.14
49.28

71.92
133.51
76.27

68.81
137.65
73.20

'61.31
129.42
37.39

*62. 53
127. 65
81.99

*59.19
123.29
46.71

«61.06
116.40
45.68

.438

.429

.430

.446

198.83
210.53
430.31

201.67
211.29
422.33

205.55
204.17
424.50

195.43
192.94
424.04

196.58
203.35
426.83

198. 20
193.23
430.97

192. 71
191.00
427.88

51.68
125.41
47.79

61.23
^63.79
117.10 *115. 60
83.44
71.77

'67.98
122. 76
75.96

'61.88
123.39
54.36

.439

.450

.490

210.31 214. 92
200. 61 195.68
434.49 446. 93

211.17
211.42
411. 41

194. 36
194.19
433.09

195. 95
169.96
456.46

.455

.520

20.04

thous. lg. tons..

267. 99

239. 98

14.86

26.14

14.59

13.80

17.13

16.94

18.86

22.55

19.48

24.90

22.28

19.35

thous. metric tons..
...do
.do

78.46
81.89
16.81

85.37
111. 34
16.26

7.62
9.86
15.97

6.94
10.08
15.34

7.94
9.66
15.99

7.21
9.05
16.15

6.91
8.23
16.26

9.45
9.79
14.76

9.62
9.12
14. 73

9.61
9.39
14.52

10.05
10.11
13.45

9.85
10.28
13.70

9.88
10.26
13.56

9.53
8.75
13.67

thous.. 185,950

231,638

19,495

19,321

18,926

17,716

17,425

18,290

18,319

18,987

18,828

19,148

18,946

15,108

19, 245

21,738
6,161
15,224
352

20,597
6,300
13,888

22,569

6,121
16,008
440

17,584
4,077
13,265
242

20, 516
4,680
15, 464
372

50,006

49,276

46,293

44,280

44, 057

TIRES AND TUBES
Pneumatic casings, automotive:
Production
Shipments, total
Original equipment
Replacement equipment
Exports..
Stocks, end of period
Exports (Bu. of Census)
Inner tubes, automotive:
Production
Shipments
Stocks, end of period
Exports (Bu. of Census)
r

do
do
do
.do

208,539
58,573
145,282
4,684

226,583
65,998
155,195
5,390

18, 262
4,425
13,400
436

20,558
5,750
14,383
425

20,247
6,124
13,818
304

16,716
5,307
11,026
383

16,025
4,716
10,798
511

15,170
5,238
9,564
368

15,755
4,840
10,573
341

22,198
6,386
15,373
439

do
do

34,768
4,784

47,181

45,229
448

44,542
544

43,841

45,176

47,181

51,523

54,621

51,986

do
do
do
do

27,548
33,304
5,106
3,167

127

170

Revised.
i Producers' stocks are included; comparable data for earlier periods will be
shown later.
2 Beginning Jan. 1977, data cover passenger car and truck and bus tires;
motorcycle tires and tires for mobile homes are excluded.




d" As reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week
period ending on Saturday nearest the end of the
c
month; annual data are as of Dec. 31.
Corrected.

October 1978

SUKVEY OF CUKKENT BUSINESS

S-38
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of B U S I N E S S S T A T I S T I C S

1976

1977

Annual

1977

Sept.

Aug.

Oct.

1978

Nov.

Jan.

Dec.

Feb.

Mar.

Apr.

May

June

July

Aug.

50,340

Sept.

STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement

thous. bbl.. 387,410

418,862

45,521

41,952

43, 207

34,548

26,133

15,330

18,516

31,452

37,239

44,904

49,782

43,755

8,059.3

812.3
4.2
113.7

740.9
4.4
99.4

746.6
4.0
97.2

714.9
4.0

620.1
4.0
68.6

461.2
3.8
43.9

476.9
7.7
38.6

713.6
7.4
70.9

788.8
10.5
82.1

893.6
6.6
95.6

914.6
6.3

809.2
5.7

101.0

6.4

5.7

4.8

2.9

3.1

4.6

4.9

5.8

93.8

5.3
27.9

26.9

26.6

22.9

20.6

21.5

27.9

25.0

27.1

CLAY CONSTRUCTION PRODUCTS
Shipments:?
Brick, unglazed (common and face)
mil. standard brick.. 7,034.4
Structural tile, except facing
thous. sh. tons..
71.0
Sewer pipe and fittings, vitrified..
do
Facing tile (hollow), glazed and unglazed
1,097.8
mil. brick equivalent..
Floor and wall tile and accessories, glazed and
64.8
unglazed
mil. sq. ft_.
Price index, brick (common), f.o.b. plant or N.Y.
276.7
dock...
1967=100..

47.9
1,143.5
62.4
288.0

177.0

203.7

Flat glass, mfrs.' shipments
thous. $.. 644,751
Sheet (window) glass, shipments
do
101,739
Plate and other flat glass, shipments..
do
543,012

739,919
(6)

GLASS AND GLASS PRODUCTS

Glass containers:
Production*--

thous. gross.

209.2

212.2

214.2

93.1
6.3
25.4
215.7

215.7

224.0

224.4

230.1

230.6

4.9

26.2

20.8

230.7

231.9

234.1

302,500

303,452

29,515

21,251

25,842

26,508

21,640

25,982

25,375

28,884

28,767

29,150 •28,759

26,930

29,284

292,345

304,785

35,382

23,828

21,577

23,378

25,683

21,086

22,020

27,383

26,528

33,988 •27,233

24,514

29,667

do...
do...
do...
do...

25,727
65,093
81,938
22,674

25,069
67,466
92,757
24,352

3,289
8,451
10,179
2,685

1,987
4,902
7,574
1,821

1,482
4,429
6,515
1,978

1,654
5,092
6,614
2,185

1,958
5,604
7,652
2,405

1,876
3,705
6,249
1,841

1,914
4,014
6,889
1,852

2,317
5,438
8,679
2,321

2,234
5,202
8,948
2,132

2,705
6,940
10,569
2,770

r 2,184 1,758
r 6, 010 5,317
r 9, 755 9,501
1,573
' 1,897

2,505
5,827
10,528
2,123

Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars) | O
thous. gross.

61,504

61,330

5,015

4,692

4,909

5,299

4,937

4,807

5,806

5,226

7,194

•4,717

4,187

Narrow-neck and Wide-mouth containers:
Medicinal and toilet
do...
Chemical, household and industrial
do...

30,798
4,611

30,091
3,720

2,998
417

2,226
303

2,214
267

2,660
264

2,469
296

2,074
404

2,265
279

2,515
307

2,474
312

3,349
461

• 2,375
'295

1,906
272

2,372
324

do...

42,800

36,912

37,253

33,976

38,433

41,204

36,912

39,337

42,408

43,764

45, 739

41,461 ••43,398

45,902

43,887

Production:
Crude gypsum (exc. byproduct)..thous. sh. tons.
Calcined
do...

111,980
111,036

113,390
112,590

1,186
1,072

1,187
1,048

1,272
1,121

1,110
1,010

1,034
987

1,110
1,051

1,027
956

1,222
1,071

1,333
1,195

1,277
1,237

1,208
1,121

1,195
1,164

6,231

17,074

792

720

650

648

435

593

417

493

529

767

684

825

5,030

i 5,759

585

566

567

455

452

295

302

370

423

458

565

505

305

25
12
32

30

33

31

29

25

27

35

36

38

28

10
27

1,421
17
41
24
1,102
217
20

1,351
12
40
21
1,037
221
20

Shipments, domestic, total*
Narrow-neck containers:
Food
Beverage
Beer.
Liquor and wine

--do

_

Stocks, end of period*

_

242.2

210,620

202,552

198,829

192, 768

• 228.0

5.7

GYPSUM AND PRODUCTS

Imports, crude gypsum

_

Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products, total
Lath
Veneer base
Gypsum sheathing
Regular gypsum board
T y p e X gypsum board
Predecorated wallboard

do
_do.
do...
do...
do...

162
329

1326
136
312

mil. sq. ft.
do...
do...
do...
do.
do...
do.

U3 f 156
184
362
1272
110,117
12,029
191

15,369
165
418
289
11,840
2,425
232

12
28

11
28

10
26

22

1,333
10
39
25
1,032
206
22

1,366
11
39
24
1,058
211
23

1,298
15
36
20
1,002
204
20

1,467
12
38
18
1,138
243
18

9
20

9
21

11
25

37
11
26

1,254
11
35
21
967
204

1,194
14
32
16
921
196
16

1,399
15
40
22
1,071
232
20

1,364
12
36
22
1,049
227
18

1,399
13
42
22
1,070
232
20

14
29
1,388
11
40
22
1,058
236
20

784
2 983
303
» 382
471
2 588
866
915
307
306
553
* 602
2,148 2,388
803
806
1,585
1,342

786
305
471
860
307
547
2,522
797
1,724

970
368
•-589
884
298
'579
2,580
821
1,759

484

575

17

25

TEXTILE PRODUCTS
FABRIC (GRAY)
Knit fabric production off knitting machines (own
use, for sale, on commission), qtrly*
mil. lb_. 1,790.9
Knitting machines active last working day *. .thous..
43.5

1,688.6
34.3

Woven fabric (gray goods), weaving mills:
791
785
2 953
10,237
Production, total9
mil. linear y d . . 10,448
318
318
2 387
4,450
4,237
Cotton
do
466
466
5,913
2 558
5,915
Manmade
fiber 1
~do~~"
1,014
1,118
1,062
1,203
986
Stocks, total, end of period 9 d"
do._~.
347
365
345
431
340
Cotton
do
662
748
712
767
640
Manmade
fiber
__do
1,722
1,801
1,797
2,004
1,728
Orders, unfilled, total, end of period 9 if.-.do..".
698
750
742
789
858
Cotton
_
_
do
1,051
1,023
985
1,008
1,146
Manmade
fiber_..
do
COTTON
Cotton (excluding linters):
Production:
GinningsA
—
thous. running bales.. 410,347 3 14,018
7,493
694
2,353
Crop estimate
thous. net weight bales 0 . . < 10,581 s14, 389
Consumption
thous. running bales. _
492
512
6,393
2 606
Stocks in the United States, total, end of period 9
thous. running bales..
16,139
14,680
12,890
14,798
9,610
Domestic cotton, t o t a l . . .
_
do
12,883 16,127 14,787 14,671
9,581
7,608
On farms and in transit
do
1,665 13,389 11,270
1,247
1,773 2,638
6,219
10,268
Public storage and compresses
do
7,377
965
844
950
Consuming establishments
.do
957
r
Revised.
v
Preliminary.
1
Annual
total;
revisions
not
allocated
to
the
months.
2
Data cover 5 weeks; other months, 4 weeks.
3 Crop for the year 1977.
« Crop for the year 1976.7
« Beginning 1st Qtr 1977, data no longer available.
6 Sept. 1
estimate of 1978 crop.
Beginning 1st Qtr 1977, data exclude garment lengths, trimming,
and collars; not comparable with earlier data.
QBales of 480 lbs.
©Includes data for "dairy products."
*New series.
Source: BuCensus.
Data cover warp and weft knit yard goods and knit
garment lengths, trimmings, and collars; no quarterly data prior to 1974 are available.




7 418.0
7 35.0

7 399.2
7 34.3

7414.0
7 34.3
802
320
474
641
1,848
729
1,120

2 964
2 378
2 577
986
340
640
2,004
858
1,146

2,037
819
1,218

11,711

13,513

13,859

505

2 562

493

827
341
478
932
314
611

814
323
481
927
311
609
2,050
755
1,295

2 620

569
1,723

144

314,018
506

386

484

672

1,492
10,873

'455

15,130
5,326
6,285
8,395
7,391
13,951 12,890 11,935 10,836 9,525
5,321 v 15,126
6,281
7,385
13,943 12,883 11,928 10,828 9,518
'700 v 1,606
765
976
977
1,110
1,162
1, 665 1,360
3,874
3,803 P 3 , 4 5 7
4,411
6,375
5,312
8,714
7,398
9,634
9,205 10,268
1,105
1, 118 P 1,063
952
1,096
1,010
1,037
950
934
864
{Monthly revisions back to 1975 for shipments of clay construction products and for Jan.Mar. 1975 for glass containers will be shown later.
9 Includes data not shown separately.
<?Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,
toweling, and blanketing, and billed and held stocks of denims.
HUnfilled orders cover wool apparel (including polyester-wool) finished fabrics; production
and stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,
and blanketing.
ACumulative ginnings to end of month indicated.

SUEVEY

October 1978
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

1976

CUREENT BUSINESS

1977

Annual

S-39
1978

1977

Aug.

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Con.
Cotton (excluding linters)—Continued
Exports
_.
thous. running bales..
Imports
thous, net-weight®bales_.
Price (farm), American uplandif
cents per lb_.
Price, Strict Low Middling, Grade 41, staple 34
(lVfe"), average 10 markets
cents per lb_.
Spindle activity (cotton system spindles):
Active spindles, last working day, total
mil..
Consuming 100 percent cotton
do....
Spindle hours operated, all fibers, total
_bil_.
Average per working day
do
Consuming 100 percent cotton
_do.
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.).
mil. lin. y d . .
Orders, unfilled, end of period, as compared with
avg. weekly production
No. weeks' prqd..
Inventories, end of period, as compared with
avg. weekly production.
No. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
mills), end of period
Exports, raw cotton equiv. thous. net-weight®bales.
Imports, raw cotton equivalent
...do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
mil. lb._
Staple, incl. tow (rayon).
..do
Noncellulosic, except textile glass:
Yarn and mononlaments
do
Staple, incl. tow
.do
Textile glass
fiber
do_.~~
Fiber stocks, producers', end of period:
Filament yarn (acetate)..
__do
Staple, incl. tow (rayon)
...do
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
do
Staple, incl. tow
_
.do
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly.), total 9
mil. lin. yd.
Filament yarn (100%) fabrics?
...do
Chiefly rayon and/or acetate fabrics
do
Chiefly nylon fabrics
do
Spun yarn (100%) fab., exc. blanketing 9 .do
Rayon and/or acetate fabrics, blends do
Polyester blends with cotton.
.do
Filament and spun yarn fabrics
do
Manmade fiber gray goods, owned by weaving
mills:
Ratio, stocks to unfilled orders, end of period...
Prices, manufacturer to mfr., f.o.b. mill:*
50/50 polyester/carded cotton printcloth, gray,
48", 3.90 yds./lb., 78x54-56..
.__$ per y d . .
65% poly./35% comb. cot. broadcl., 3.0 oz./sp yd,
45", 128x72, gray-basis, wh. permpresfin.
Manmade fiber knit fabric prices, f.o.b. mill:*
65% acetate/35% nylon tricot, gray, 32 gauge, 54",
3.2 oz./linear y d . .
$ per yd-.
100% textured polyester D K jacquard, 11 oz./
linear yd., 60", yarn dyed, finished...$ per y d . .
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. lbs..
Yarn, tops, thread, cloth
..do
Cloth, woven
do
Manufactured prods., apparel, furnishings.do
Imports, manmade fiber equivalent
do
Yarn, tops, thread, cloth..
.do
Cloth, woven
do
Manufactured prods., apparel, furnishings .do
Apparel, total..
...do
Knit apparel
do
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb__
Carpet class
do
Wool imports, clean yield
do
Duty-free (carpet class)..
do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:^
Domestic—Graded territory, 64's, staple 2*/{"
and up
$perlb__
Australian, 64's, Type 62, duty-paid
.do
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. lin. yd..

3,431
96
64.7

4,448
25
51.8

181
1
58.3

200
1
59.1

149
1
53.1

170.9

7 50.8

52.5

49.3

49.1

16.8
7.5
105.6
.406
48.1

16.6
6.7
103.6
.398
43.4

16.5
6.8
8.1
.405
3.3

16.5
6.8
2
9.8
.392
2 4.1

333
(10)

496
(10)

51.4

47.9

16.6
6.8
8.3
.415
3.5

48.0
16.6
6.8
8.2
.410
3.4

48.4
16.5
6.7
2 9.3
.371
2 3.7

»521
0
48.0
51.0

502
(10)

50.3

16.7
6.6
8.2
.412
3.3

52.9
16.5
6.6
8.3
.416
3.4

51.3

640
0
51.7

55.0

54.7

16.5
6.5
2 10.1
.403
2 4.0

16.6
6.6
8.2
.413
3.4

57.6
16.4
6.4
8.2
.408
3.3

704
(10)

510
(10)

53.7

528
1
54.8
57.4
16.3
6.3

456
(10)

56.5
57.0

524
'56.6
'59.8

6.4

6.4

"2.~6

3.3

2 10.0
.400

2 4.1

4,718

4,372

»13.2

3 11.7

10.6

11.3

11.1

11.0

13.5

13.0

12.3

14.4

14.0

13.7

13.9

22.7

17.7

34.7

34.7

4.6

4.3

4.4

4.6

4.6

4.4

4.5

4.8

4.9

4.8

4.8

5.9

5.2

5.36
556.0
718.3

3.40
460.1
525.2

.44
31.0
42.7

.41
26.3
32.3

.34
46.3
53.1

.34

.37

.33

.35

.35

.35

«.26

.29

40.2
48.1

.40
24.8
35.5

"70*0

44.8

"56" 7

68.7

53.9

60.6

60.8

51.3

286.9
475.4

282.0
527.0

69.7
132.9

65.6
121.9

71.5
129.3

131.7

3,292.9
3,320.2
676.0

924.2
898.7
210.8

873.4
931.4
222.2

907.6
1,002.1
226.1

949.7
.4
227.1

18.1
30.0

3,659.9
3,653.8
786.7
16.7
49.8

13.1
48.0

16.7
49.8

13.1

11.7
46.1

«299.8
289.0
79.4

350.3
299.7
67.9

356.1
315.2
61.5

350.3
299.7
67.9

353.5
306.3
85.6

336.4
350.2

6,092.4
1,984.4
378.2
356.8
5 3,500.4
184.8
2,713.2
320.5

6,223.6
2,014.1
371.5
3,583.2
286.2
2,677.1
359.5

1,462.1
472.8
89.1
82.4
840.8
78.1
615.7
85.2

1,644.5
539.0
94.9
80.3
940.3
84.1
693.1
96.3

1,648.5
'555.3
'98.6
'78.4
931.
'84.7
' 660.8
'97.5

1,690.8
566.8
104.0
95.1
957.2
83.3
673.5
97.9

•130

3.42

.46

.42

8.4.16

.405

.393

.405

.424

.441

.725

.901

.750

.741

.741

.727

.727

.412

.501

.440

.438

.445

.435

.435

• 1.846

« 1. 708

1.668

1.642

1.642

1.609

352.17
201.92
139.17
150.25
479.32
83.82
64.41
395.49
343.25
209.80

367.08
206.34
131.35
160.74
531.13
110.11
67.70
421.02
365.24
218. 68

27.08
13.92
9.36
13.16
55.44
13.05
7.87
42. 39
37.13
22.94

35.02
18.55
11.88
16.48
51.85
10.91
6.56
40.9536.34
21.96

25.81
14.11
9.60
11.63
46.69
9.31
5.76
37.38
32.68
20.13

27.50
14.64
9.97
12.86
37.57
6.09
4.14
31.48
27.22
16.28

106.7
15.1
58.0
18.9

95.5
12.5
53.0
18.8

7.4
1.1
4.7
1.5

2 8.6
2 1.1
2.4
.6

7.7
.7
2.2
.3

1.82
6 2.18

1.83
2.27

1.82
2.24

1.82
2.27

1.82
2.27

97.3

101.7

982

356.9

1,023

995

••1,046

76.:

.31

.31

.30

.34

.22

.21

.21

.451

.456

.475

.495

.515

.493

.496

.496

.516

.729

.725

.729

.751

.763

.780

.778

.776

.794

.443

.451

.456

.467

.472

1.674

1.655

1.665

1.658

1.658

1.651

1.655

34.35
19.75
14.00
14.60
41.83
10.06
6.90
31.77
26.26
13.94

45.54
14.91
7.98
30.63
24.80
12.33

46.68
11.95
5.90
34.73
29.50
17.10

46.34
13.29
7.27
33.05
27.48
15.78

53.87
16.11
7.85
37.76
31.08
18.46

59.74
13.74
8.05
46.01
40.00
25.09

67.70
12.36
7.94
55.34
48.88
30.40

70.41
14.13
8.61
56.28
49.66
29.34

64.75
12.29
8.51
52.46
46.95
26.89

7.0
.8
1.8

2 7.9
2 1.0
3.0
2.0

7.7
1.0
3.7
2.2

8.2

3.2
1.9

10.5
1.2
4.1
1.4

8.8
1.1
4.9
2.2

9.2
1.0
4.0
1.5

10.3
1.5
3.8
2.0

4.7
2.3

1.82
2.30

1.82
2.26

1.82
2.28

1.78
2.30

1.78
2.31

1.81
2.32

1.84
2.33

1.92
2.36

1.92
2.36

.35

23.3

*>60.0

.34

25.4

28.2

31.7

271.1

242.6

284.7

6.2

1.92
2.36

FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other), ship19.3 1,024.6
ments, quarterly..
mil. sq. yds_.
258.0
APPAREL
Women's, misses', juniors' apparel cuttings:*
2,044 1,974
Coats
thous. u n i t s . . 20,689
17,624
1,908
Dresses
.do
170,744 166,385 13,687 12,827 12,810
34,050
2,935 2,803 2,964
34,575
Suits (incl. pant suits, jumpsuits)
do .
Blouses
thous. dozen.
19,735
19,540
1,706
1,632
1,676
Skirts
do
5,445
4,929
477
425
461
r
3
Revised.
P Preliminary.
i Season average.
For 5 weeks, other months, 4 weeks.
3
Monthly average.
« Effective Sept. 1976 SURVEY, data omit production and stocks of
saran and spandex yarn.
»Effective 1976, production of blanketing is included in 100%
spun yarn fabric
(prior
to
1976, in "all other group," not8 shown separately). 9 6 Avg. for
7
May-Dec.
Average for sales prior to Apr. 1,1977.
Avg. for Feb.-Dec.
Effective
Jan. 1,1978, includes reexports, formerly excluded.
i° Less than 500 bales.
1[ Based on 480-lb. bales, » price reflects sales as of the 15th; restated ' price reflects total
quantity purchased and dollars paid for entire month (' price includes discounts and
premiums).
9 Includes data not shown separately.
® Net-weight (480-lb.) bales.




1,504
1,567
1,105
1,748 ' 1,967
1,037
1,408
1,173
12,553 10,531 12,152 13,006 15,504 15,048 14,600 ' 14,115 11,175
1,766
2,523
1,951
2,307
2,595
2,815 2,343 2,189 ' 2,026
1,704
1,960
1, 945 1,529
1,778
2,174
1,473
1,719
1,864
487
638
'574
537
427
641
443
435
532
d" Effective Jan. 1976, specifications for the price formerly designated fine good French
combing and staple have been changed as shown above. Effective with the May 1976 SURVEY
the foreign wool price is quoted including duty.
.
•New series. Apparel (BuCensus)—Annual totals derived from firms accounting for 99%
of total output of these items; current monthly estimates, from smaller sample. Monthly data
for 1975, adjusted to annual totals, are available. Coats exclude all fur, leather, and raincoats.
Suits omit garments purchased separately as coordinates. Except for the year 1974, earlier
monthly data are available, except for suits. Prices
(USDL, BLS)—Data not available prior
c
to 1976.
* Avg. for Jan.-Apr.; June-Dec.
Corrected.

S-40
Unless otherwise stated in footnotes below, data
through 1974 and descriptive notes are as shown in
the 1975 edition of BUSINESS STATISTICS

SURVEY OF CURRENT BUSINESS
1976

1977

Annual

October 1978
1978

1977
Aug.

Sept.

Oct.

Nov.

Dec.

Feb.

Mar.

Apr.

May

1,261
960
9,472
1,283
2,298
19,418

1,496
1,378
10,505
1,295
2,784
21,859

1,381
1,193
9,241
1,239
2,609
21,183

1,432 ' 1,438
831
1,376 ' 1,291
784
9,368
5,751
1,1&3 ' 1, 272
786
2,691 ' 2, 869 1,987
22,541 24,987 22,044

Jan.

June

July

Aug.

Sept.

TEXTILE PRODUCTS—Continued
APPAREL-Con.
Men's apparel cuttings:
Suits*
thous. units..
Coats (separate), dress and sportt
--do
Trousers (separate), dress and sportt
do
Slacks (jean cut), casual t
thous. doz__
Shirts, dress, sport, inc. knit outerwear i___do
Hosiery, shipments
thous. doz. pairs..

«16,224 •16,065
• 12,874 "13,652
132,163 125,827
15,537
11,732
36,797
32,523
240,918 248,144

1,398
1,151
10,085
1,269
2,672
24,084

1,536
1,329
10,482
1,480
2,711
23,283

1,494
1,285
10,108
1,398
2,676
24,594

1,384
1,167
9,206
1,260
2,662
22,284

1,193
1,099
7,408
1,301
2,332
18,336

1,335
1,031
8,499
1,190
2,318
18,384

24,569

TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
mil. $..
U.S. Government
do
Prime contract—
do
Sale" (net), receipts, or billings, qtrly, total do
U.S. Government
do

35,991
21,056
32,390
30,363
19,083

37,802
21,706
34,746
32,934
20,243

7,893
4,037
7,242
8,035
4,966

13,573
8,271
12,731
8,832
5,207

10,807
5,567
10,084
8,511
5,093

39,682
Backlog of orders, end of period 9
do
22,121
U.S. Government
do
17,321
Aircraft (complete) and parts
do
Engines (aircraft) and parts
do
3,558
Missiles, space vehicle systems, engines, propulsion units, and parts
mil. $_.
6,286
Other related operations (conversions, modifications), products, services
mil. $..

44,287
25,355
19,360

39,546
22,291
17,820
3,862

44,287
25,355
19,360
5,170

46,796
25,843
20,330
5,192

5,112

5,981

6,163

6,004

6,395

5,542

Aircraft (complete):
Shipments
do... 4,646.8
Airframe weight
thous. lb. 49,094
Exports, commercial
mil. $. 13,207
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
thous.
8,498
Domestic
_
do...
7,838
Retail sales, total, not seasonally adj
do... 10,110
DomesticsAdo...
8,611
ImportsA
do...
1,498
Total, seas, adjusted at annual rate t
milDomestics A t
do...
ImportsA t
.._
do...
Retail inventories, end of mo., domestics: A
Not seasonally adjusted
thous.
1,465
Seasonally adjusted f
do...
1,519
Inventory-retail sales ratio, domestics A t
1.9
Exports (BuCensus), assembled cars.
thous.. 680.46
To Canada
do
573. 47
Imports (BuCensus), complete units.
do
2,536.7
From Canada, total
do
825.6
Registrations©, total new vehicles
do
* 9,752
4
Imports, incl. domestically sponsored
do
1,447
Trucks and buses:
Factory sales (from U.S. plants), total
thous.. 2,979
Domesticdo
2,734
Retail sales, seasonally adjusted:*
Light-duty, up to 14,000 lbs. GVW
do
2,762.8
Medium-duty, 14,001-26,000lbs. GVW...do.... 161.7
Heavy-duty, 26,001 lbs. and over GVW..do
119.6
Retail inventories, end of period, seasonally adjusted*
..thous.. 546.4
Exports (BuCensus), assembled units
do
199. 63
Imports (BuCensus), including separate chassis
and bodies
_
thous.. 812.83
Registrations©, new vehicles, excluding buses not
produced on truck chassis
_
thous.. < 3,058
Truck trailers and chassis, complete (excludes detachables), shipments
number.. 105,437
61,726
Vans..
do
7,316
Trailer bodies (detachable), sold separately.—do
5,678
Trailer chassis (detachable), sold separately ..do
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
numberEquipment manufacturers
..do
New orders
do
Equipment manufacturers
do
Unfilled orders, end of period. _
do
Equipment manufacturers
do__.
Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period
thous.
Held for repairs, % of total owned
Capacity (carrying), total, end ofmo-.mil. tons.
Average per car
tonsr

52,548
45, 618
36,148
i 30,546
23,415
18,733

1,332
8.8
97.71
73.37

5,170
5,981
6,395
4,700.9
' 47,647
2,605

335.7
3,578
177

403.7
3,813
171

564.1
4,743
434

366.5
3,872
180

525.3
4,481
284

294.5
2,624
«80

363.0
3,604
203

478.5
4,287
172

436.2
3,902
210

434.8
5,113
165

662.2
6,293
275

469.1
4,959
248

379

9,199
8,511
11,185
9,109
2,075

505
474
931
727
204
11.3
9.2
2.1

739
671
829
657
171
10.5
8.6
2.0

874
813
1,014
870
144
11.0
9.1
1.9

767
718
881
738
143
10.8
8.7
2.1

635
795
646
149
11.2
9.3
2.1

657
616
687
545
142
10.1
8.0
2.1

675
623
777
628
149
10.5
8.5
2.0

909
842
1,078
883
195
11.8
9.8
2.1

806
1,043
863
180
12.3
10.2
2.1

919
850
1,159
963
196
12.1
10.0
2.1

821
1,137
950
187
11.8
9.7
2.0

589
553
930
762
168
11.0
9.1
1.9

528
492
'958
'753
'205
11.9
9.9
2.0

1,563
1,712
2.2

1,669
1,745
2.4

1,629
1,738
2.3

1,709
1,760
2.4

1,731
1,784
2.3

1,887
1,824
2.8

1,952
1,848
2.6

1,991
1,866
2.3

2,008
1,877
2.2

1,970
1,818
2.2

1,911
1,721
2.1

1,729
1,694
2.2

1,510
1,655
2.0

58.61
27.85
697.20
49.42
23.39
591.51
200.0
2,791. 3 210.4
54.7
35.2
849.2
* 10,826 31,027 '4 919
'
s
202
' 1,977

70.95
58.61
225.3
61.0
••4 866
••4 138

51.61
41.93
242.6
71.3
"•3 788
••3 123

46.84 «47.09
37.00 *38.S0
257.0
«55.5
61.8
S698
r 3946
3 126
'170

53.72
41.81
253.6
61.1
5 761
5 151

62.84
49.56
299.1
78.9
5 861
»162

70.48
57.21
310.1
78.1
3 908
'162

69.32
57.92
266.5
73.5
*979
*162

1,731
1,784
2.3

662
P166
PIO.8

8.9
Pl.9
1,606
1,678
2.3

70.63
36.11
45.83
58.20 33.75 25.95
281.4
116.4
236.8
86.8
41.1
47.6
•1,044 3 1,053 31, 061
5 165
3 198
3 182

3,440
3,178

274
257

305
280

319

278
257

256
235

240
223

268
247

341
311

319
291

338
309

355
324

272
254

281
266

3,145.0
171.5
169.1

257.0
13.2
14.3

255.6
13.5
14.2

284.7
13.7
14.7

280.6
14.0
14.5

297.5
14.6
14.4

257.3
13.2
14.2

276.6
13.3
14.7

308.4
16.3
18.3

305.9
14.7
16.5

296.7
14.0
17.1

316.9
14.7
17.6

281.7
14.0
18.6

321.8
11.2
16.8

250.9
12.0
17.0

716.1
202.55

656.9
15.48

674.2
14.95

704.8
15.68

736.4
16.52

736.0
14.88

717.4
813.60

713.4

715.1
21.72

717.0
22.86

696.0
22.74

675.2
24.24

658.2
18.05

643.2
16.58

653.3

822.43

58.75

62.20

78.27

103.13

96.87

92.12

97.00

85.88

63.80

' 3,509

'3 318

5 301

3 315

3 337

5 351

3 380

18.58

67.02

81.31

6 86.15

'3 275

' 3 336

4 251

14,597
9,242
603
2,212

13,012
8,169
519
2,115

12,590
7,817
483
2,265

14,052
8,637
408
2,429

17,543
11,653
578
3,341

15,540
9,930
352
2,643

17,589
11,150
622

84.67
5 282

16,872 13, 770
10,967 8,857
'540
457
2,531 ' 2, 421 2,098

159,297 15,041
' 98, 687 9,465
653
7,193
1,761
20,662

15,138
9,583
605
2,222

15,041
9,521
576
2,087

4.370
150,927
i 45,872 3,887
4,412
i 66,750
4,412
i 57,402
36,410 29,216
29,490 26,867

5,232
4,699
5,376
4,976
29,343
27,127

3,896
3,452
5,673
3,173
30,973
26,701

4,009
3,477
4,053
4,053
30,757
27,017

4,652
4,314
10,550
7,032
36,410
29,490

3,762
3,522
6,344
6,144
38,195
31,315

3,795
3,483
6,352
6,352
40,602
34,034

4,874
4,489
4,346
4,346
45, 387
39,204

4,702
4,351
10, 258
10,008
50,943
44,861

5,843
5,644
16,907
16,907
61,802
55,919

6,893
6,113
14,815
14,815
69,298
64,195

4,753
4,351
11,599
11,265
75, 461
70,426

6,198
13, 5S6
13, 086
83, 233
78,197

1,302
8.6
97.56
74.94

1,299
8.7
97.46
75.05

1,294
8.7
97.19
75.13

1,290
8.8
97.12
75. 2!

1,267
8.9
95.64
75.50

1,263
9.1
95.44
75.58

1,253
9.3
94.84
75.66

1,247
9.5

1,247
9.5
94.45
75.73

1,245

1,242
9.3
94.30
75.94

1,239
9.0
94.20
76.04

94.38
76.20

1,267
8.9
95.64
75.50

Revised. v Preliminary.
i Annual total includes revisions not distributed by
months. a Estimate of production, not factory sales. 3 Excludes 2 States. 4 Excludes
lbtate.
5 Excludes 3 States. • Beginning 1978, data may not be strictly comparable with
those for earlier years because of the revised export schedule.
JAnnual figures, "Apparel 1975," MA-23A(75)-l. Survey expanded and classification
changed; not comparable with data prior to 1974.
9Total includes backlog for nonrelated products and services and basic research.
_ tSeas. adj. data (1971-74) in the Mar. 1976 SURVEY, p. 5, do not reflect end-digit revisions to
imports and total sales introduced in the Feb. 1977 SURVEY.
ADomestics include U.S.-type cars produced in the United States and Canada; imports




a 737

P828

94.47

75.74

75.83

1,239

cover foreign-type cars and captive imports, and exclude domestics produced in Canada.
©Courtesy of R. L. Polk & Co.; republication prohibited.
§Excludes railroad-owned private refrigerator cars and private line cars.
*New series. Source: Motor Vehicle Manufacturers Assn. of the U.S. (seas, adjustment
by BEA). Reporting firms do not represent the entire industry. Motor coaches are not
covered. Sales include imports of U.S. manufacturers only (all other imports are not covered).
Units refer to complete vehicles and to chassis sold separately. Gross vehicle weight refers
to the weight of the
vehicle with full load. Seasonally adjusted monthly data back to 1971
are available. aExcludes leisure-type; not strictly comparable with 1974.

U. S. GOVERNMENT PRINTING OFFICE : 1978 O - 275-875

INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate
Domestic trade

1-7
8, 9
10,11
11-13

Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication

13-17
17-22
22-24
24,25

Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products

25, 26
26
27-30
30

Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products

31
31-34
34-36
36,37

Hubber 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
17
Air carrier operations
24
Air conditioners (room)
34
Aircraft and parts
7,40
Alcohol, denatured and ethyl
26
Alcoholic beverages
11,27
Aluminum
33
Apparel
1,4,8,9,11-16,40
Asphalt
35,36
Automobiles, etc
1,4-6, 8,9,11,12,20,23,24,40
Banking
Barley
Battery shipments
Beef and veal
Beverages
Blast furnaces, steel mills
Bonds, issued, prices, sales, yields
Brass and bronze
Brick
Building and construction materials
Building costs
Building permits
Business incorporations (new), failures
Business sales and inventories
Butter

17,18
27
34
28
9,11, 22,23,27
5-7
20, 21
33
38
4,6,
7,11,31,38
10,11
10
7
5
27

Cattle and calves
28
Cement and concrete products
9,11,38
Cereal and bakery products
9
Chain-store sales, firms with 11 or more stores. ..
13
Cheese
27
Chemicals
4,6,9,14-16,20,23,25,26
Cigarettes and cigars
30
Clay products
9,38
Coal
4,9,23,34,35
Cocoa
23,29
Coffee
23,29
Coke
35
Combustion, atmosphere, heating equipment
34
Communication
2,20,25
Confectionery, sales.
29
Construction:
10
Contracts
10,11
Costs
Employment, unemployment, hours, earnings. . 13-16
Fixed investment, structures.
1
Highways and roads
10,11
Housing starts
10
Materials output indexes
11
New construction put in place
10
Consumer credit
18
Consumer expenditures
1
Consumer goods output, index
4
Consumer Price Index
8
Copper
33
Corn
27
Cost of living (see Consumer Price Index)
8
Cotton, raw and manufactures
8,9,22,38,39
Cottonseed oil
30
Credit, short- and intermediate-term
18
Crops
3,8,27,28,30,38
Crude oil.
4,35
Currency in circulation
20
Dairy products
Debits, bank
Debt, U.S. Government
Deflators, GNP
Department stores, sales, inventories
Deposits, bank
Dishwashers
Disputes, industrial
Distilled spirits
Dividend payments, rates, and yields.
Drugstores, sales

3b




3,8,9,27
17
19
2
12,13
17,20
34
16
27
2, 3,20, 21
12,13

Earnings, weekly and hourly
15,16
Eating and drinking places
12,13
Eggs and poultry
3,8,9,29
Electric power
4,9,26
Electrical machinery and equipment
5-7,
9,14,15,20,23,24,34
Employee-hours, aggregate, and indexes
15
Employment..
13,14
Expenditures, U.S. Government
19
Explosives
26
Exports (see also individual commodities)
1, 3,22-24
Failures, industrial and commercial
7
Farm income, marketings, and prices
2,3,8,9
Farm wages
16
Fats and oils
9,23,29,30
Federal Government
finance
19
Federal Reserve banks, condition of
17
Federal Reserve member banks
17
Fertilizers
9,25
Fire losses
11
Fish.
29
Flooring, hardwood
-.
31
Flour, wheat
28
Food products
1,4,6,8,9,14-16,20,22,23,27-30
Foreclosures, real estate
11
Foreign trade (see also individual commod.)..... 22-24
Freight cars (equipment)
40
Fruits and vegetables
8,9
Fuel oil
35,36
Fuels
4,8,9,23,34-36
Furnaces
34
Furniture
5,9,12-15
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gross national product
Gross national product, price deflators
Gross private domestic investment
Gypsum and products

4,9,26
1,35
38
26
19
8,9,22,27,28
12,13
1
2
1
9, 38

Hardware stores.
12
Heating equipment
9,34
Hides and skins
9,30
Highways and roads
10,11
Hogs
28
Home electronic equipment
9
Home Loan banks, outstanding advances
11
Home mortgages
It
Hosiery
40
Hotels and motor-hotels
25
Hours, average weekly
15
Housefurnishings
1,4, 5,8, 11,12
Household appliances, radios, and television sets.
4,
8,9. 12,34
Housing starts and permits
10
Imports (see also individual commodities)... 1,3, 23, 24
Income, personal
2, 3
Income and employment tax receipts
19
Industrial production indexes:
By industry
4,5
By market grouping
4
Installment credit
13,18
Instruments and related products
5,6,14,15
Insurance, life
19
Interest and money rates
18
International transactions of the United States . . .
3
Inventories, manufacturers' and t r a d e . . . . . . . 5—7,11,12
Inventory-sales ratios
5
Iron and steel
5,9,11, 20, 23,31,32
Labor advertising index,"stoppages, turnover
16
L a b o r force.
...
13
L a m b and m u t t o n . . . . . . . . . . . . . . . . . . . . / . . . . . . .
28
Lead.
........
33
Leather and products
. . . . 4 , 9 , 1 4 - 1 6 , 30
Life insurance.
.......-.
19
Livestock....
. . . . . . . . . . . . . . . . . . . . . . . . . 3 , 8 , 9 , 28
L o a n s , real e s t a t e , a g r i c u l t u r a l , b a n k (see a l s o
Consumer credit).
11,17,18
Lubricants... . . . . . .
.
. . . . . . . — .. 35,36
Lumber and products.
5,9,11,12,14,15,20,31
Machine tools
,
34
M a c h i n e r y . . . . . . . . . . . . . . . . . 5-7,% 14,15,20,23,24,34
Mail order houses, s a l e s , . . . . . . . . . . ,
........
12
M a n m a d e fibers a n d m a n u f a c t u r e s . . . « . . . . . . . . . . 9 , 3 9
M a n u f a c t u r e r s * sales (or s h i p m e n t s ) , i n v e n t o r i e s ,
orders..........,;............................
5-7
Manufacturing employment, unemployment, production workers, hours, e a r n i n g s . . . . . . . . . . . . . . 1 4 - 1 6
Manufacturing production i n d e x e s . . .
........
4,5
Margarine,......,...........
.............
29
Meat animals and meats. . . . . . . . . .
3,8,9,22,23,28,29
Medical a n d personal c a r e . . . . . . . . . . . . . . . . . . . . .
8
M e t a l s . . . . . . . . . . . . . . . . 4-7,9,14,15,20,22,23,31-33
Milk........................................
27
Mining and m i n e r a l s . . . . . . . . . . . . . . . . . 2 , 4 , 9 , 1 4 - 1 6 , 2 0
Monetary s t a t i s t i c s . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,20
M o n e y s u p p l y . . . . . . . . . . . . . . . . . . . . . . — . . . . . •.
20
Mortgage applications, loans, r a t e s . . . . . . . . . . . . . I I , 17-19
Motor c a r r i e r s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
Motor v e h i c l e s . . . . . . . . . . . . . . 1,4-6,8,9V11,20,23,40

National defense expenditures
1,19
National income and product
1,2
National parks, visits
25
Newsprint
23,37
New York Stock Exchange, selected data
21,22
Nonferrous metals
5-7,9,20,23,33
Noninstallment credit
18
Oats
Oils and fats
Orders, new and unfilled, manufacturers'
Ordnance

27
9,23,29,30
7
14,15

Paint and paint materials
Paper and products and pulp

9,26
4,6,
9,14-16,20,23,36,37
Parity ratio
8
Passenger cars
1,4-6,8,9,11,12,20,23,24,40
Passports issued
25
Personal consumption expenditures
1
Personal income
2,3
Personal outlays
2
Petroleum and products
4, 6,
8,9,14,15,20,23,35,36
Pig iron
31, 32
Plant and equipment expenditures
2
Plastics and resin materials
26
Population
13
Pork
28, 29
Poultry and eggs
3,8,9,29
Price deflators, implicit, GNP
2
Prices (see also individual commodities)
8,9
Printing and publishing
4,14-16
Private sector employment, hours, earnings
13-16
Profits, corporate
2, 20
Public utilities
2,4,10,20,21, 26
Pulp and pulpwood
,
36
Purchasing power of the dollar
9
Radio and television
4,11, 34
Railroads
2,16,17,21,24,25,40
Ranges
34
Rayon and acetate
39
Real estate
l l f 17,19
Receipts, U.S. Government
19
Refrigerators
34
Registrations (new vehicles)
40
Rent (housing)
8
Retail trade
5,7,12-16,18
Rice
28
Rubber and products (incl. plastics)
4,6,
9,14-16,23,37
Saving, personal
2
Savings deposits
17
Securities issued
20
Security markets
20-22
Services
1,8,14-16
Sheep and lambs
28
Shoes and other footwear
9,12,30
Silver
19
Soybean cake and meal and oil
30
Spindle activity, cotton
39
Steel (raw) and steel manufactures
23,31,32
Steel scrap
31
Stock market customer
financing
20
Stock prices, earnings, sales, etc
21,22
Stone, clay, glass products
5, 6,9,14,15, 20,38
Sugar
....
23,29
Sulfur
25
Sulfuric acid
25
Superphosphate
25
Tea imports
29
Telephone and telegraph carriers
25
Television and radio
4,11, 34
Textiles and products
4,6,9,14-16,20,23,38-40
Tin
33
Tires and inner tubes
9,12,13, 37
Tobacco and manufactures
4,6,8,14,15,30
Tractors
• •• •
34
Trade (retail and wholesale)
5f 11,12,14-16
Transit lines, urban
24
Transportation
1,2,8,14-16,20-22,24, 25
Transportation equipment
5-7,14,15,20,40
Travel
24, 25
Truck trailers
40
Trucks (industrial and other)
34, 40
Unemployment and insurance
U.S. Government bonds
U.S. Government finance. .^
U.S. International transactions
Utilities
Vacuum cleaners
Variety stores
Vegetable oils
Vegetables and fruits
Veterans* unemployment insurance
Wages and salaries
Washers and dryers
Water heaters
Wheat and wheat flour
Wholesale Price Indexes
Wholesale trade
Wood pulp
Wool and wool manufactures
Zinc.

13,17
1
19
3
2,4,8,10,21,22,26
34
Ai IS* 1A
23,29,30
8,9
1«
2,3, 15, 16
34
34
28
8,9
5,7,11, 14-16
36
9,39
33

UNITED

STATES

GOVERNMENT PRINTING OFFICE
PI B L ' C

DOCUMENTS

D F. PART ME NT

WASHINGTON. D.C.
OFFICIAL




20402

BUSINESS