Full text of Survey of Current Business : October 1991
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October 1991 / Volume 71 Number 10 SURVEY OF CURRENT BUSINESS U.S. Department of Commerce 1 Business Situation 4 National Income and Product Accounts 4 Selected NIPA Tables 18 NIPA Charts 20 A Preview of the Comprehensive Revision of the National Income and Product Accounts: New and Redesigned Tables Michael R. Darby / Under Secretary for Economic Affairs and Administrator 29 U.S. Direct Investment Abroad: 1989 Benchmark Survey Results Bureau of Economic Analysis Allan H. Young / Director Carol S. Carson / Deputy Director 56 Regional Perspectives Editor-in-Chief: Douglas R. Fox Managing Editor: Leland L. Scott 59 State Personal Income, Summary Estimates for Second Quarter 1991 Robert A. Mosbacher / Secretary Economics and Statistics Administration Publication Staff: W. Ronnie Foster, M. Gretchen Gibson, Eric B. Manning, Donald J. Parschalk SURVEY OF CURRENT BUSINESS. Published monthly by the Bureau of Economic Analysis of the U.S. Department of Commerce. Editorial correspondence should be addressed to the Editor-in-Chief, SURVEY OF CURRENT BUSINESS, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. Annual subscription: Second-class mail— $29.00 domestic, $36.25 foreign; first-class mail— $76.00. Single copy—$8.00 domestic, $10.00 foreign. Mail subscription orders and address changes to the Superintendent of Documents, U.S. Government Printing Office, Washington, DC 20402. Make checks payable to the Superintendent of Documents. Second-class postage paid at Washington, DC and at additional mailing offices. (USPS 337-790). The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department. C-pages: Business Cycle Indicators (See page C-l for contents) S-pages: Current Business Statistics (See page S-36 for contents and subject index) Inside back cover: BEA Information NOTE.—This issue of the SURVEY went to the printer on November 6,1991. It incorporates data from the following monthly BEA news releases: Gross National Product (Oct. 29), Personal Income and Outlays (Oct. 30), and Composite Indexes of Leading, Coincident, and Lagging Indicators (Nov. 1). the BUSINESS SITUATION Ecoi)NOMIC conditions as reflected in the national income and product accounts (NIPA's) showed improvement in the third quarter of 1991: Real GNP increased 2.4 percent after decreasing 0.5 percent in the second quarter, and real gross domestic purchases increased 4.4 percent after increasing 1.4 percent (chart I).1 The (fixedweighted) price index for gross domestic purchases increased 2.2 percent after increasing 2.4 percent. One-third of the increase in real GNP was accounted for by motor vehicle output, which increased substantially in the third quarter but not as much as in the second. Autos accounted for most of the thirdquarter increase in motor vehicle output; trucks accounted for most of the second-quarter increase. (Auto output in constant dollars is presented in table 1.18 of the "Selected NIPA Tables," and truck output, in table 1.20.) Among the major components of GNP, personal consumption expenditures, nonresidential fixed investment, and residential investment increased more than in the second quarter, and inventory investment (that is, change in business inventories) increased after a second-quarter decrease. In the third quarter, the increases in these components were partly offset by drops in net exports and in government purchases. Prices The fixed-weighted price index for gross domestic purchases increased 2.2 percent in the third quarter, about the same as in the second quarter (table 1). Food and energy prices held down the increase in both quarters; prices of gross domestic purchases less food and energy, which may be viewed as measuring the underlying inflation rate in the U.S. economy, increased 3.3 percent in both quarters (chart NOTE.—This article was prepared by Daniel 2). Thefixed-weightedprice index for GNP slowed to a 2.1-percent increase Larkins and Ralph W. Morris. in the third quarter from a 3.1-percent 1. The regularly featured estimate of real GNP is increase in the second. based on 1982 weights. An alternative estimate of real Export prices, which are included in GNP growth based on more current weights can be caK culated using the change in the chain price index, which the price index for GNP but not in the is published in table 8.1 of the "Selected NIPA Tables." index for gross domestic purchases, deThis alternative measure increased 2.1 percent in the third quarter after increasing 0.7 percent in the second. creased slightly in the third quarter CHART 1 Selected Measures: Change from Preceding Quarter Percent 10 REAL GNP l l l l l . i •_• •, I -5 -10 10 REAL GROSS DOMESTIC PURCHASES • l i i . l l -•• , .1 -5 Looking Ahead... • National Income and Product Accounts Revision. Revised estimates of the national income and product accounts for years and quarters beginning in 1959 will be released on December 4, 1991. Estimates for selected tables, along with a brief summary of the revisions, will be presented in the November SURVEY. The complete set of tables with estimates for 1987-90 and an article describing the revision will appear in the December SURVEY. A two-volume publication containing the complete set of tables for 1929-87 will be available in early 1992. See the article beginning on page 20 for a description of the new and redesigned tables that will be introduced for the revised estimates. • Gross State Product. Revised estimates for 1977 through 1986 and estimates for 1987, 1988, and 1989 will be presented in the December SURVEY. These estimates will be consistent with the revised gross product originating by industry series presented in the January 1991 and the April 1991 issues of the SURVEY. GROSS DOMESTIC PURCHASES PRICE INDEX (FIXED WEIGHTS) 1988 1989 1990 1991 Note—Percent change at annual rate from preceding quarter; based on seasonally adjusted estimates. U.S. Department of Commerce. Bureau of Economic Analysis 9, SURVEY OF CURRENT BUSINESS after a small increase in the second. Import prices, which are subtracted in deriving the price index for GNP but not in deriving the index for gross domestic purchases, increased slightly after a decrease. Among import prices, the price of imported petroleum, which Table 1.—Price Indexes (Fixed Weights): Change From Preceding Quarter (Percent change at annual rates; based on seasonally adjusted index numbers (1982=100)] 1990 GNP Plus: Imports Equals: Gross domestic purchases ... 1991 I IV II 5.2 3.1 2.1 5.0 24.9 3.4 -11.8 1.5 -6.8 -.3 .2 6J 3.7 2.4 2.2 6.3 3.6 2.3 2.2 7.1 4.9 3.3 6.2 -23.6 2.6 5.1 -14.7 1.9 -3.8 4.9 -.6 6.1 5.6 2.5 5.4 -.3 4.8 3.6 1.6 .1 3.5 3.8 2.1 .7 2.6 3.6 34.4 346.2 5.4 -18.2 -75.0 4.1 -11.3 -^7.5 -3.6 -1.4 3.0 -2.0 Persona] consumption expenditures Energv Other personal consumption expenditures Nonresidential structures Producers' durable equipment Residential investment Government purchases 51.2 4.2 Addenda: Merchandise imports Petroleum and products Other merchandise NOTE—Percent chanscs in i of the •'Selected MPA~Tables in tables 7.1 and 7.3. CHART 2 Gross Domestic Purchases Prices (Fixed Weights): Change From Preceding Quarter Percent III 4.7 Less: Change in business Equals: Final sales to domestic purchasers had fluctuated widely in preceding quarters, increased only slightly in the third. Prices of personal consumption expenditures increased 1.9 percent after a 2.6-percent increase. Food prices decreased, reflecting a drop in the prices of red meats, fruits, and vegetables. Prices of all major categories of energy decreased, but less than in the second quarter. Prices of "other" personal consumption expenditures increased a little more than in the second quarter. October 1991 aggregates are found in table 8.1 ost index number levels are found 2- Personal income Personal income increased $39.7 billion in the third quarter after increasing $48.9 billion in the second (chart 3 and table 2). The slowdown reflected a downswing in farm proprietors' income, which decreased $8.6 billion after increasing $3.3 billion. Federal subsidy payments to farm proprietors and farm proprietors' income excluding subsidy payments contributed about equally to the downswing. Subsidy payments decreased $6.7 billion in the third quarter after decreasing $0.5 billion in the second. Farm proprietors' income excluding subsidies 1988 1989 1990 1991 Note.—Percent change at an annual rate from preceding quarter; based on seasonally adjusted Index numbers (1982 = 100). U.S. Department of Commerce, Bureau of Economic Analysis 91-10-2 CHART 3 Selected Personal Income and Saving Measures Billion $ 150 CHANGE IN PERSONAL INCOME 120 90 Table 2.—Personal Income and Its Disposition (Billions of dollars; seasonally adjusted at annual rates] 60 Change from preceding quarter Level 1991 1990 1991: III 1 IV 31.2 2.9 4.6 -1.7 5.9 17.4 5.1 29.3 8.5 8.5 0 3.2 12.7 4.8 3.0 3.0 3.0 -1.8 -.3 -1.6 12.6 3.3 9.4 1.4 -8.6 10.0 -3.7 0 -5.9 -\.2 -7.7 2.2 1.2 -4.9 18.7 30.3 13.4 10.2 .3 8.4 2.1 2.8 40.0 17.3 48.9 39.7 7.1 -2.0 2.0 .1 4,107.7 32.8 19.4 46.8 39.6 3 950 0 31.8 18.1 45.5 52.0 157.7 1.0 1.2 1.5 -12.5 2 5.0 .1 1.0 10.8 -2 4 -.5 -6.7 1.6 1.1 -1.5 17.8 0 0 0 7.0 0 .9 2,803.3 724.4 549.8 174.6 648.8 890.4 539.7 4.7 -9.3 -5.7 -3.6 -.8 8.1 6.8 272 2 3.2 4184 43 2 375.2 8.3 6.4 1.8 7.6 126 7 669.4 .9 1.8 2.6 Transfer payments 769.0 Less. Personal contributions for social insurance 242.2 4,824.4 716.7 Manufacturing Other Government and government enterprises Other labor income Farm Nonfarm Rental income ot persons Personal income Less. Personal lax and nontax payments Equals: Disposable personal income Equals: Personal saving 30 III II 3.9 -13.0 -9.4 -3.6 -2.2 7.3 11.7 Pe cent CHANGE IN REAL DPI |||J B I.I.. H -5 -10 Percent 10 PERSONAL SAVING RATE Addenda: Special factors in personal income: in •Aages and salariesFederal Government and Postal Service pay adjustments In transfer payments: Social security retroactive payments Cost-of-!ivmg increases in Federal transfer payments .5 1988 In personal contributions for social insurance: Social security rate, base, and coverage changes and increase in NOTE.—Most dollar levels arc found in table 2.1 of the "Selected NIP A Tables." 1989 1990 1991 Based on Seasonally Adjusted Annual Rates Note—Changes are from preceding auarter. U.S. Department of Commerce, Bureau of Economic Analysis 91-10-3 October 1991 SURVEY OF CURRENT BUSINESS decreased $1.9 billion after increas- percent from 2.3 percent, reflecting a a $12.5 billion decrease in personal ing $3.8 billion; the decrease reflected deceleration in the deflator for personal saving in the third quarter. The perlower market prices. consumption expenditures. sonal saving rate dropped 0.4 percentage point to 3.8 percent after holdWage and salary disbursements inA larger increase in personal out- ing steady at 4.2 percent for four creased $29.3 billion in the third quarter, a little less than in the second. lays than in current-dollar DPI led to consecutive quarters. In manufacturing, wages and salaries increased more than in the second quarter, reflecting a step-up in avNOTE.—Quarterly estimates in the national income and product accounts are expressed at seasonally adjusted annual rates, and quarterly changes are differences between these rates. erage weekly hours and an upswing Quarter-to-quarter percent changes are annuaHzed. Real, or constant-dollar, estimates are in employment. In the service and expressed in 1982 dollars. The advance GNP estimate for the third quarter is based on the distributive industries and in Governfollowing major source data, some of which are subject to revision. (The number of months for ment, wages and salaries increased which data were available is shown in parentheses.) Personal consumption expenditures: Sales of retail stores (3), and unit auto and truck sales less in the third quarter than in the (3); second. Nonresidential fixed investment: Unit auto and truck sales (3), construction put in place Personal interest income decreased (2), manufacturers' shipments of machinery and equipment (3), and exports and imports of machinery and equipment (2); $4.9 billion after decreasing $7.7 bilResidential investment: Construction put in place (2), and housing starts (3); lion; the decreases reflected lower Change in business inventories: Manufacturing and trade inventories (2), and unit auto interest rates. inventories (3); Disposable personal income (DPI) inNet exports of goods and services: Merchandise exports and merchandise imports (2); Government purchases of goods and services: Federal outlays (2), and State and local creased $.39.6 billion, or 4.0 percent, construction put in place (2); in the third quarter after increasing GNP prices: Consumer Price Index (3), Producer Price Index (3), nonpetroleum merchandise $46.8 billion, or 4.7 percent, in the export and import price indexes (3), and values and quantities of petroleum imports (2). second; real DPI slowed less, to 2.0 SURVEY OF CURRENT BUSINESS October 1991 NATIONAL INCOME AND PRODUCT ACCOUNTS Selected NIPA Tables New estimates in this issue: Third quarter 1991, advance. The selected set of 54 national income and product accounts (NIPA) tables shown in this section presents quarterly estimates, which are updated monthly. (In most of these tables, annual estimates are also shown.) The full set of 132 tables usually shown in July presents annual NIPA revisions. For more information on the presentation of the estimates, see "National Income and Product Accounts Estimates: When They are Released, Where They Are Available, and How They Are Presented" in the July 1988 SURVEY. The tables shown are available the day of the GNP news release on printouts and diskettes on a subscription basis orfromthe Commerce Department's Economic Bulletin Board. Estimates for 1986-89 are in the July 1990 issue of the SURVEY; estimates for 1985 are in the July 1988 issue; estimates for 1984 are in the July 1987 issue; estimates for 1983 are in the July 1986 issue. Estimates for 1929-82 are in National Income and Product Accounts, 1929-82: Statistical Tables. For more information, write to National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. NOTE.—This section of the SURVEY is prepared by the National Income and Wealth Division and the Government Division. Table 1.1.—Gross National Product Table 1.2.—Gross National Product in Constant Dollars [Billions of dollars] [Billions of 1932 dollars] Seasonally adjusted at annual rates 1989 Gross national product Personal consumption expenditures1 Durable goods , Nondurable goods . Services1 , 1990 1991 1990 1990 5,670.8 Gross national product 4,117.7 4,1573 4,155.1 4,170.0 4,153.4 4,124.1 4,118.9 4,143.1 3341.8 467.4 1.229.5 2,144.9 Personal consumption expenditures' 654.0 694.0 501.1 134.9 366.2 192.9 684.8 702.3 498.8 125.4 373.4 203.5 -17.5 2,631.6 2,678.8 2,696.8 2,673.6 2,663.7 2,680.5 2,7053 428.0 427.4 426.8 429.5 415.6 402.9 401.4 410.4 919.9 911.1 911.2 916.4 901.2 897.1 902.2 908.7 1376.9 1386.2 1309.0 1343.1 1,340.8 1.350.8 U56.7 1,363.7 688.7 623.7 617.6 700.7 692.3 682.7 648.6 650.9 6663 693.1 506.1 515.4 691.2 519.3 519.4 496.8 498.5 506.5 116.4 113.7 109.5 101.8 122.4 120.9 508.4 403.1 383.1 389.0 404.7 383.7 394.6 120.9 187.0 176.8 387.5 173.0 163.3 151.8 152.4 159.7 -3.6 182.8 23.8 4.7 -26.4 -25.0 -33.3 -15.1 4.7 -28.5 -28.1 -27.2 -5.1 9.5 18.7 -6.1 3.1 2.1 0 11.6 1.5 5.0 -11 7.1 700.8 682.6 693.5 694.9 Fixed investment Nonresidcntial , Structures Producers' durable equipment .. Residential .... Change in business inventories Nonfarm ., „ Farm Net exports of goods and services l .... Federal National defense Nondefense State and local 1989 5,200.8 5,465.1 5,443.3 5,514.6 5,5273 5,557.7 5,612.4 3,450.1 3,657.3 3,622.7 3,693.4 3,724.9 3,742.8 3,789.0 474.6 480.3 478.4 482.3 468.5 455.3 453.7 1.130.0 1,193.7 1,179.0 1,205.0 1.216.0 1.212.7 1,221.7 1,845.5 1.983.3 1,965.3 2,006.2 2,040.4 2,074.8 2,113.6 Gross private domestic investment ... Exportsl Imports1 Government purchases or goods and services Seasonally adjusted at annual rates 1991 1990 759.0 759.7 698-3 742.9 511.9 146.2 365.7 231.0 28.3 23.3 5.0 -46.1 746.1 524.1 147.0 377.1 222.0 -5.0 -7.4 2.4 -3L2 745.6 516.5 147.2 369.3 229.1 13.4 13.0 .5 750.7 729.2 524.0 142.1 381.9 205.2 -30.8 -32.4 626.2 672.3 672.8 704.0 659.7 684.6 532.8 149.8 383.0 217.9 9.0 6.8 2.2 -24.9 672.7 714.1 660.0 694.1 503.6 139.5 364.1 190.5 -34.2 -37.1 2.9 -28.8 13.5 697.4 694.5 681.0 Durable goods Nondurable goods Services' ........ Gross private domestic investment . Fixed investment „..„...... Nonresidential Structures Producers' durable equipment .... Residential Change in business inventories ..... Nonfarm Farm Net exports of goods and services» 1,025.6 1,098.1 1,086.4 1,102.8 1,132.9 1,141.5 1,1513 1,145.5 400.0 424.0 421.9 425.8 437.6 443.8 449.7 436.8 301.1 313.6 309.6 312.6 325.0 331.2 325.7 318.7 98.9 110.4 112.3 113.2 112.6 112.6 124.0 118.1 625.6 674.1 664.6 677.0 695.3 697.7 701.6 708.7 Exportsl Government purchases of goods and services Federal National defense Nondefense State and local -.. 630.5 593.3 647.4 631.5 6653 664.7 798.1 820.8 820.2 334.9 256.3 78.7 463.2 343.7 258.7 85.0 477.1 345.9 258.2 87.8 476.7 89.4 474.3 647.2 656.0 648.0 641.0 655.1 667.6 8323 829.6 833.4 349.9 265.7 84.2 482.4 349.5 2674 82.0 480.1 259.4 94.9 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. NOTE.—Percent changes from preceding period for selected items in this table art shown in table 8.1. NOTE.—Percent changes from preceding period for selected items in this table arc shown in table 8.1. Table 1.3.—Gross National Product by Major Type of Product Seasonally adjusted at annual rates 1990 1990 Seasonally adjusted at annual rates 1989 1991 1990 1990 II 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 Final sales .... Change in business inventories 5,200.8 5,465.1 5,4433 5,514.6 54273 5,557.7 5,612.4 5,670.8 5,172.5 5,470.2 5,429.9 5,505.6 5.558.2 5.591.9 5.652.5 5,6883 13.4 -5.0 28.3 9.0 -30.8 -34.2 -17.5 2,072.7 2,1433 2446.6 2,170.4 2,145.0 2,136.0 2,150.6 2,172.9 2.044.4 2,148.3 2.133.1 2.161.4 2.175.9 2.170.2 2,190.7 2,190.4 28.3 906.6 894.7 11.9 -5.0 13.4 9.0 -30.8 -34.2 -40.0 -17.5 928.0 939.1 -11.1 930.1 930.1 0 953.2 943.4 9.8 908.7 941.2 -32.5 876.3 918.5 -42.2 897.6 9383 -40.7 922.5 934.7 -12.2 1,166.0 1,215.3 1.216.4 1.217.2 1.236.3 1.259.7 1,253.0 1.250.4 1,149.6 1,209.3 1.203.0 1.218.0 1.234.7 1,251.7 1052.3 1,255.7 -.8 -5.3 16.4 6.0 13.4 1.7 8.0 Services 2,889.6 3,046.4 3,081.6 2.67U 2,864.5 2,834.2 2,943.0 3,004.0 Structures ..._ 415.4 416.4 454.6 456.9 457.4 462.5 4393 417.7 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 340.8 Table 1.4.—Gross National Product by Major Type of Product in Constant Dollars [Billions of 1982 dollars] [Billions of dollars] 1989 655.3 „ Final sales „ Change in business inventories Durable goods Final sales -.:.. Change in business inventories Nondurable goods ..........„„„ Final sales Change in business* inventories Services . . . . . 1991 IV I L ° III 4,117.7 4,1573 4,155.1 4,170.0 4,153.4 4,124.1 4,118.9 4,143.1 Gross national product Final sales Change in business inventories Goods III 4,094.0 4.160.9 4,145.6 4,1653 4.179.8 4,149.0 4,152.2 4.158.2 23.8 -3.6 4.7 -26.4 -25.0 - 3 3 3 -15.1 9.5 13294 1,8293 1,8313 1339.7 1321.0 1,7974 1,7874 1306.9 1,805.7 1.832.9 1,821.8 1.835.0 1,847.4 1,822.5 1.820.8 1.821.9 23.8 -3.6 4.7 -26.4 -25.0 -33.3 -15.1 9.5 907.5 920.6 919.1 941.1 908.0 876.9 887.0 909.4 897.7 930.1 919.5 932.9 936.0 911.5 921.5 919.6 9.8 -9.5 8 3 ^28.1 -34.6 -34.5 -10.2 -.3 922.0 908.0 13.9 908.7 902.8 5.9 912.2 902.4 9.8 898.5 902.1 -3.6 913.0 911.4 K6 920.6 910.9 9.7 900.5 8993 1.2 897.4 902.3 -4.9 1,915.6 1,961.0 1,9524 1,9673 1,980.7 1,993.0 2,002^ 2,007.9 372.7 366.9 371.2 363.1 351.7 333.6 3293 3283 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. SURVEY OF CURRENT BUSINESS October 1991 Table 1.5.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers Table 1.6.—Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers in Constant Dollars [Billions of dollars] [Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at ann ualratjs 1989 1990 1990 II III 1989 1991 IV I n 5,200.8 5,465.1 5,4433 5,514.6 5,5273 5,557.7 5,612.4 5,670.8 Gross national product Less: Exports of goods and servicesl .... Plus: Imports of goods and services] .... Equals: Gross domestic purchases 2 .... 626.2 672.3 659.7 684.6 672.7 714.1 697.4 726.2 694.5 681.0 700.8 682.6 693.5 694.9 5,246.9 5,496.4 5,468.2 5355.9 5,556.1 5^44.2 5 4 9 4 3 5,672.2 Less: Change in business inventories Equals: Final 3sales to domestic purchasers 672.8 704.0 28.3 -5.0 13.4 9.0 -30.8 -34.2 -40.0 II HI -17.5 5,218.6 5401.4 5,454.7 5,546.9 5,586.9 5,578.4 5,6343 5,689.7 1991 1990 1990 III rv I n 4,117,7 4,1573 4,155.1 4,170.0 4,1534 4,124.1 4,118.9 4,143.1 Less: Exports of goods and services' .... Plus: Imports of goods and servicesl .... Equals: Gross domestic purchases2 .... Less: Change in business inventories 593.3 6314 620.1 6304 647.2 648.0 655.1 655.3 647.4 665.3 664.7 677.0 656.0 641.0 667.6 688.1 4,171.8 4,191.1 4,199.7 4,216.5 4,162.2 4,117.0 4,1314 4,175.9 4.7 -26.4 -25.0 -33.3 -15.1 23.8 -3.6 94 Equals: Final sales to domestic purchasers' ,.........,.,...,. 4,148.1 4,194.7 4,190.1 4,211.8 4,188.6 4,142.0 4,164.8 4,191.0 1. Sec the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 2. Purchases in the United States of goods and services wherever produced. 3. Final sales in the United States of goods and services wherever produced. 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 2. Purchases in the United States of goods and services wherever produced. 3. Final sales in the United States of goods and services wherever produced. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. NOTE.—Percent changes from preceding period for selected items in this table art shown in table 8.1. Table 1.7.—-Gross National Product by Sector Table 1.8.—Gross National Product by Sector in Constant Dollars [Billions of dollars] [Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 1990 < 1990 II Gross national product Gross domestic product Business Nonfann Nonfarm less housing Housing 1989 1991 IV I II 5,200.8 5,465.1 5,4433 5,514.6 5,5273 5457.7 5,612.4 5,670.8 5,163.2 5,423.4 5,411.7 5,471.7 5,476.5 5402.9 5,568.9 5,628.4 Households and institutions Private households Nonprofit institutions .»......„, Rest of the world 203.6 10.3 193.3 224.8 10.8 214.0 221.4 10.8 210.6 229.3 10.9 218.4 541.6 168.6 373.0 579.4 178.5 400.9 576.7 179.2 397.5 37.6 41.7 31.6 U ....................•..•*•»..**....•.... Statistical discrepancy 243.7 11.4 232.3 250.9 11.6 239.3 Households and institutions Private households Nonprofit institutions 582.8 178.3 404.5 606.3 188.5 417.8 612.0 188.3 423.8 617.1 188.0 429.1 Government Federal State and local 42.9 50.8 54.8 43.6 42.4 I II .... ...... "Z « Rest of the world 146.2 9.5 136.6 154.5 9.7 144.8 153.6 9.8 143.7 156.7 9.8 146.9 157.0 9.7 147.3 157.6 9.7 147.9 160.0 9.9 150.1 161.8 9.9 151.9 383.5 126.5 257.0 389.7 127.6 262.1 389.9 128.2 261.7 390.0 127.4 262.7 3914 127.8 263.6 393.0 128.7 264.4 392.6 127.7 264.9 392.0 126.9 265.1 30.2 31.9 US 32.6 38.2 404 32.0 31.0 Addendum: Gross domestic business product less housing 3,978.4 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Gross domestic business product less g III 3,557.9 3,581.1 3487.2 3,590.8 3466.7 34319 3434.3 3458.3 3,492.9 3,502.5 3,510.3 3414.3 3,485.1 3,445.4 3.442.7 3.467.0 3.196.0 3,200.4 3,208.4 3.211.9 3.182.1 3,141.7 3,138.4 3,162.1 296.9 302.1 301.8 302.4 303.1 303.7 304.3 304.9 81.2 79.7 80.1 81.3 80.2 79.4 80.0 78.8 6.2 114 11.6 .3 -3.7 -2.5 -1.3 -13.8 Nonfarm less housing 237.4 11.1 226.3 rv 4,087.6 4,125.4 4,130.6 4,1375 4,115.2 4,083.6 4,087.0 4,112.1 Business 233.4 11.0 222.4 591.0 179.8 411.2 III 4,117.7 4,1573 4,155.1 4,170.0 4,153.4 4,124.1 4,118.9 4,143.1 Gross national product Gross domestic product Housing 1991 1990 1990 Ill 4,418.1 4,619.2 4,613.5 4,659.6 4,652.1 4,659.3 4,713.1 4,760.4 4,346.6 4,527.8 4.522.1 4,571.4 4,562.1 4,559.0 4,601.5 4,651.3 3.915.3 4,068.8 4,067.5 4,106.9 4,093.1 4,086.4 4,124.4 4,168.3 431.2 459.1 454.7 464.4 469.0 472.6 477.1 483.0 93.1 89.6 88.6 93.1 94.6 93.6 92.0 96.2 -1.7 A -17.0 -4.9 -3.2 15.4 8.2 15.4 Statistical discrepancy Government Federal State and local III HI Gross national product 3,252.6 ' NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. SURVEY OF CURRENT BUSINESS October 1991 Table 1.14.—National Income by Type of Income Table 1.9.—Relation of Gross National Product, Net National Product, National Income, and Personal Income [Billions of dollars] [Billions of dollar*] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 1990 1989 n 1991 1990 1991 1990 1990 III IV III II I I 4,2233 4,418.4 4,4113 4,452.4 4,459.7 4,456.4 4,493.2 National income Gross national product Less: Capital consumption allowances with capital consumption adjustment . Capital consumption allowances without capital consumption adjustment Less: Capital consumption dj Equals: Net national product Less: Indirect business tax and nontax liability Business transfer payments Statistical discrepancy Plus: Subsidies less current surplus of government enterprises Equals: National income Less: Corporate profits with inventory valuation and capital consumption adjustments ........................ Net interest Contributions for social insurance Wage accruals less disbursements Plus: Government transfer payments to persons ............. Personal interest income Personal dividend income Business transfer payments Equals: Personal income 5,200.8 5,465.1 5,4433 5,514.6 5,527.3 5,557.7 5,612.4 5,670.8 554.4 575.6 571. 579.3 585.1 591.5 595.6 601.3 541.9 540.5 539.3 540.7 543.3 548.0 555.9 567.7 -12.6 -35.1 -31.8 -38.6 -41.8 -43.6 -39.7 -33.7 4,646.4 4,889.5 4,872.2 4,9353 4,942.2 4,966.2 5,016.8 5,069.5 414.0 32.4 -17.0 6.3 440.3 35.0 -1.7 433.0 34.7 -3.2 2.5 3.6 444.9 35.4 -A9 -7.5 451.4 36.0 .4 5.3 461.4 36.7 8.2 -3.5 464.8 37.3 15.4 -6.0 475.4 -15.9 4,2233 4,418.4 4,4113 4,452.4 4,459.7 4,456.4 4,493,2 311.6 445.1 298.3 466.7 306.6 466.2 300.7 468.3 468.4 286.2 460.9 476.8 506.9 503.9 511.3 513.7 527.6 0 604.5 643.2 114.4 32.4 0 659.7 680.4 123.8 35.0 652.0 678.0 122.9 34.7 661.0 685.3 124.9 35.4 679.0 687.9 126.7 36.0 708.7 682.0 126.7 36.7 Wages and salaries Government and government e n t e r p r i s e s *++**, ••»«««,»*»***. Other ."... '. 2,573.2 2,705.3 2,696.3 2,734.2 2,738.9 2,742.8 2,773.7 2,803.3 ,..»-» 532.3 538.4 505.8 538.9 536.1 542.7 548.0 556.5 562.0 568.4 i n s u r a n c e .......•.•.••«.............•-•..•.*«.. 263.9 241.9 280.8 258.1 279.7 256.4 282.7 260.0 284.8 263.2 290.3 266.2 292.8 269.2 2962 2722 3793 402.5 401.7 397.9 406.2 404.4 417.0 418.4 48.6 49.9 51.0 42.4 48.8 48.5 51.8 43.2 56.3 -7.7 57.5 -7.6 58.5 -7.6 49.9 -7.6 56.3 -7.5 56.0 -7.4 59.1 -7.3 50.6 -7.4 355.6 329.3 -3.5 29.8 357.4 330.1 -2.2 29.5 355.8 324.8 365.2 335.2 375.2 345.5 Other labor income Proprietors' income with inventory valuation and capital consumption adjustments Farm Proprietors' income with inventory valuation adjustment Capital consumption adjustment..... Rental income of persons with capital consumption adjustment Rental income of persons Capital consumption adjustment 721.4 674.3 125.5 37.3 731.0 669.4 126.7 38.0 4,3*4.3 4,645.5 4,622.2 4,678.5 4,718^ 4,735.8 4,784.7 4^24.4 Table 1.10.—Relation of Gross National Product, Net National Product, and National Income in Constant Dollars [Billions of 1982 dollars] Corporate profits with inventory valuation and capital consumption adjustments Less: Capital consumption allowances with capital consumption adjustment . Equals: Net national product Less: Indirect business tax and nontax liability plus business transfer payments less subsidies plus current surplus of government enterprises Statistical discrepancy Equals: National income 4,117.7 4,157.3 4,155.1 4,170.0 4,153.4 4,124.1 4,118.9 4,143.1 506.0 519.7 516.5 522.5 527.1 531.7 536.6 542.5 3,611.7 3,637.6 3,638.6 3,647.5 3,626.2 3,592.4 3 ^ 8 2 3 3,600.6 333.4 333.4 332.5 335.5 331.2 327.0 329.9 -13.8 -1.3 -2.5 -3.7 .3 6.2 11.6 332.5 3,292.1 3305.6 3308.6 3315.7 3,294.7 3,259.1 3,240.9 Table 1.11.—Command-Basis Gross National Product in Constant Dollars [Billions of 1982 dollar;] Gross national product Less: Net exports of goods and services Exports Imports Equals: Gross domestic purchases 4,117.7 4,1573 4,155.1 4,170.0 4,153.4 4,124.1 4,118.9 4,143.1 -54.1 593.3 647.4 -33.8 631 5 665.3 -44.6 620.1 664.7 630.*5 677.0 -8.8 647.2 656.0 7.1 648.0 641.0 -12.6 655.1 667.6 -32.8 655.3 688.1 4,171.8 4,191.1 4,199.7 4,216.5 4,162.2 4,117.0 4,131.5 4,175.9 Plus: Command-basis net exports of Command-basis exportsl Imports Equals: Command-basis gross national product .... -... 603il 647 4 -29.5 635.8 665 3 -24.2 640.5 6647 -39.2 637.8 677 0 -26.0 630.0 656 0 12.7 653.7 641.0 17.7 685.4 667.6 -1.4 686.8 6881 4,127.4 4,161.6 4,175.5 4,1773 4,136.2 4,129.7 4,149.2 4,174.6 Addendum: Terms of trade* ..• 101.6 100.7 103.3 101.1 97.4 100.8 104.7 104.8 1. Exports of goods and services deflated by the implicit price deflator for imports of goods and services. 2. Ratio of the implicit price deflator for exports of goods and services to the implicit price deflator for imports of goods and services with the decimal point shifted two places to the right. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 330.7 298.9 -1.0 32.8 352.6 324.3 -1.7 30.0 350.8 320.7 -.2 30.2 1.6 29.4 -.8 .1 30.5 29.9 8.2 6.9 43 S.4 93 5.6 5.4 7.6 64.1 -55.8 61.6 -54.7 58.8 -54.5 63.5 -55.1 64.0 -54.7 59.9 -54.3 60.2 -54.8 62.9 -55.3 311.6 284.4 2983 306.6 300.7 288.9 286.2 286.1 293.3 298.8 298.7 290.3 289.7 284.1 Profits before tax Profits tax liability Profits after tax Dividends Undistributed profits 307.7 135.1 172.6 123.5 49.1 304.7 132.1 172.5 133.9 38.7 299.3 133.1 166.1 133.0 33.2 318.5 139.1 179.4 135.1 44.3 304.1 126.5 177.6 137.2 40.4 281.5 115.1 166.4 137.5 29.0 279.2 118.6 160.6 136.4 24.2 Inventory valuation adjustment -21.7 -11.4 -19.8 -13.8 8.1 4.9 2.0 -1.4 -3.5 4.9 .2 -3.2 25.5 -.5 7.7 445,1 466.7 466.2 4683 468.4 460.9 450.8 445.5 176.5 166.1 173.4 161.6 162.4 171.1 165.8 399.4 395.3 400.2 392.0 395.5 409.2 407.3 53.0 32.2 40.5 26.5 25.2 33.6 29.3 346.4 363.0 359.7 365.5 370.3 375.6 378.0 381.0 -21.7 421.1 -11.4 406.6 -.5 -19.8 411.8 -13.8 4092 8.1 4.9 -3.2 Corporate profits with inventory valuation adjustment Capital consumption adjustment Gross national product 539.7 534.5 529.8 518.1 511.3 505.7 476.6 508.0 2,096.6 2,197.2 2,190.6 2,222.9 2,220.8 2,213.0 2,239.1 2,263.6 Supplements to wages and salaries .... Employer contributions for social Nonfarm ., CTOpnetors income ........••.*.... Inventory valuation adjustment Capital consumption adjustment 0 0 3,079.0 3,244.2 3,232.5 3,276.9 3,286.9 3,2993 3335.7 3371.7 Compensation of employees Net interest t tM 137.9 6.4 Addenda: Corporate profits after tax with inventory valuation and capital consumption adjustments Net cash flow with inventory valuation and capital consumption adjustments Undistributed profits with inventory valuation and capital consumption adjustments Capital consumption allowances with capital consumption adjustment Less: Inventory valuation Adjustment tll4tHtl ,, „„»„ , Equals: Net cash flow * **„,.*. 400.6 401.1 402.4 SURVEY OF CURRENT BUSINESS October 1991 Table 1.17.—Auto Output Table 1.16.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and Constant Dollars [Billions of dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1990 1990 1989 1991 n Billions of dollars Gross domestic product of corporate business Capital consumption allowances with 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 Supplement 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 Gross domestic product of financial corporate business Gross domestic product of nonfinancial corporate business Capital consumption allowances with 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 arid capital consumption adjustments Profits before tax Profits tax liability Profits after tax Dividends .. Undistributed profits Inventory valuation adjustment... Capital consumption adjustment Net interest 3,086.4 3,193.6 3,206.0 3,234.4 3,217.6 3,218.0 3,250.7 346.4 363.0 359.7 365.5 370.3 375.6 378.0 2,739.9 2.835.5 2,846.3 2,869.0 2,847.4 2.842.4 2,872.8 381.0 295.1 313.5 307.6 317.7 321.4 329.5 331.7 339.7 2,444.9 2,522.1 2,538.7 2,551.3 2,526.0 2,512.9 2,541.0 2,058.1 2,140.5 2,140.3 2,167.7 2.163.9 2,157.0 2,179.3 2 1,731.5 1,800.3 1,800.4 1,823.9 1,818.9 1,809.3 1,828.4 1,847.4 340.2 339.8 343.8 345.1 347.7 350.9 260.7 241.4 256.9 247.8 135.1 132.1 121.8 115.7 104.3 .114.8 .8 17.5 -21.7 -11.4 4.9 25.5 126.0 140.2 257.6 250.3 133.1 117.2 109.4 243.1 260.9 139.1 121.8 112.7 9.1 -19.8 2.0 140.5 220.8 236.0 126.5 109.5 121.7 -12.2 -13.8 -1.4 141.2 218.0 213.3 115.1 982 113.2 -15.0 8.1 -3.5 137.9 221.3 118.6 102.8 112.4 -9.7 4.9 2 135.2 245.9 246.0 326.7 7.8 -.5 7.7 140.8 355.1 Auto output ....... Final sales Personal consumption expenditures .... New autos Net purchases of used autos Producers' durable equipment New autos Net purchases of used autos Net exports of goods and services Exports Imports Government purchases of goods and services Change in business inventories of new and used autos Used Addenda: l Domestic output of new autos Sales of imported new autos2 116.2 126-5 1991 1990 1990 III IV n HI 1413 1333 139.8 95.2 44.6 28.9 59.6 -30.7 -37.0 10.2 47.2 115.6 1223 133.9 89.0 44.9 23.9 54.4 -30.5 -37.9 9.1 47.1 104.1 108.2 111.2 123.1 77.3 45.8 22.9 53.1 -30.1 -37.0 9.3 46.3 117.2 118.4 77.4 41.0 28.6 59.0 -30.4 -31.1 10.4 41.5 118.7 116.9 123.5 78.9 44.6 31.8 63.0 -31.2 -39.7 12.2 52.0 I 1313 128.9 141.4 99.7 41.6 20.3 50.1 -29.8 -34.4 10.0 44.5 131.1 139.8 96.1 43.7 24.8 54.0 -29.2 -35.5 10.4 45.9 128.9 133.8 140.2 97.6 42.6 24.2 52.2 -28.0 -32.4 11.4 43.8 1.6 1.9 1.7 1.6 2.4 2.2 1.3 1.4 2.4 1.6 .8 -4.5 -4.4 -.2 -4.9 -3.8 -1.1 8.0 7.6 .5 -6.7 -6.7 0 -7.2 -6.4 -.7 -8.9 -11.2 2.2 1.8 1.8 0 105.2 57.6 99.7 58.1 103.4 59.1 113.4 58.8 89.3 56.5 83.7 48.5 87.8 54.7 99.1 56.0 1. Consists of final sales and change in business inventories of new autos assembled in the United States. 2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases. 6.4 132.8 Table 1.18*—Auto Output in Constant Dollars [Billions of 1982 dollars) 253.6 265.9 Seasonally adjusted at annual rates 1990 2,854.5 2,952.7 2,960.0 2,979.1 2,964.1 2,956.9 2,984.8 1991 IV 317.8 331.6 329.1 333.4 338.0 342.7 344.8 2,536.7 2,621.0 2,630.9 2,645.7 2,626.1 2,614.1 2,640.0 272.9 289.7 284.2 293.6 297.0 304.5 306.5 313.9 2.263.8 2,331.3 2,346.8 2,352.1 2,329.2 2,309.6 2,333.5 1,902.3 1,983.4 1,982.1 2,004.7 2,000.7 1,991.0 2,010.1 2,031.3 1,599.4 1,667.2 1,666.2 1,685.6 1,680.6 1,668.9 1,685.3 1,702.6 302.9 104.8 120.5 316.3 315.9 319.1 320.2 219.5 229.1 96.3 132.8 117.7 15.2 -11.4 235.8 232.2 97.5 134.7 112.3 22.4 218.8 239.1 100.3 138.8 115.5 23.3 1.8 4.1 128.9 128.6 199.1 217.2 91.9 125.3 124.3 1.0 -13.8 -4.3 129.3 128.4 _ j 322.0 324.8 190.8 78.4 112.4 115.6 -3.2 8.1 -6.5 126.3 199.5 198.1 81.6 116.5 114.6 1.9 4.9 -3.5 123.8 -3.2 1.6 121.6 Capital consumption allowances with capital consumption adjustment Net domestic product Indirect business tax and nontax liability plus business transfer payments less subsidies Domestic income 110.4 104.7 109.0 109.0 113.0 77.4 35.6 19.6 43.6 -23.9 -25.2 8.1 33.3 115.1 81.5 33.6 17.2 41.0 -23.8 -24.7 7.9 32.6 1.4 Used 1073 110.8 113.8 78.8 35.0 19.1 42.2 -23.1 -23.5 8.8 32.3 117.2 113.3 77.2 36.1 23.3 48.3 -25.0 -26.8 7.8 34.6 953 1023 108.0 71.4 36.5 18.6 43.6 -25.1 -26.1 7.4 33.5 83.9 912 98.0 60.4 37.6 16.4 41.5 -25.0 -25.0 6.9 31.9 93.4 93.4 60.1 33.4 20.7 45.8 -25.1 -21.8 7.7 29.6 94.8 93.5 96.7 61.3 35.3 23.9 49.0 -25.1 -28.2 9.1 37.2 1.1 1.6 1.5 2.0 1.8 -43 -4.2 -.1 -3.5 -2.5 -.9 -7.1 -7.2 0 -7.4 -6.7 -.6 -6.5 -8.3 1.8 13 1.3 0 79.5 46.8 82.7 47.7 71.2 64.3 37.9 67.4 42.5 76.6 43.5 Addenda: Domestic ourput of new autos* Sales of imported new autos3 Billions of 1982 dollars Gross domestic product of nonfinancial corporate business Auto output Final sales Personal consumption expenditures .... New autos Net purchases of used autos Producers* durable equipment New autos Net purchases of used autos Net exports of goods and services Exports Imports Government purchases of goods and services Change in business inventories of new and used autos 85.1 47.1 91.2 47.7 45.3 1. Consists of final sales and change in business inventories of new autos assembled in the United States. 2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases. 2,503.0 2,506.5 2,519.6 2,514.4 2,4883 2,446.9 2,446.4 303.4 305.7 290.7 298.0 2,212.3 2,208.5 2,222.7 2,215.3 2,187.0 2,143.5 2,140.7 207.0 209.3 213.3 212.8 212.4 1.999.1 1.995.8 2,010.2 2,000.8 1,976.3 1,936.5 1.931.4 308.4 8 SURVEY OF CURRENT BUSINESS October 1991 Table 1.19.—Truck Output Table 1.20.—Truck Output in Constant Dollars [Billions of dollars] (Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 Truck output* Final sales Personal consumption expenditures .... Producers' durable equipment ............ Net exports of goods and services Exports Government purchases of goods and services Change in business inventories 1990 1990 1989 1991 11 III IV I II III 69.6 63.4 69.6 64.6 58.7 48.1 61.8 64.1 68.6 32.8 36.5 -6.6 3.6 10.2 64.7 30.8 34.2 -5.5 3.9 9.4 65.4 30.2 34.1 -5.3 4.3 9.5 65.2 32.1 35.2 -7.1 3.5 10.6 60.9 28.3 32.4 -4.2 4.5 8.7 S6.9 25.2 29.8 -3.7 4.1 7.8 . 60.7 26.7 30.6 -2.8 5.4 8.1 64.9 31.2 33.1 -4.6 4.9 9.5 5.6 6.1 5.2 -8.8 1.1 -.7 5.8 5.3 6.4 5.1 1.0 -13 42 -.6 4.4 -23 t. Includes new trucks only. Truck output * Final sales Personal consumption expenditures .... Producers' durable equipment Net exports of goods and services Exports Imports Government purchases of goods and Change in business inventories 1991 1990 1990 n in 56.5 50.5 55.8 51.4 46.0 37.5 482 49.1 55.7 26.8 29.7 -5.4 2.9 8.3 51.5 24.2 27.4 -4.3 3.1 7.5 52.4 23.7 27.7 -4.2 3.5 7.7 51.9 25.2 28.3 -5.6 2.8 8.4 47.7 21.9 25.6 -3.2 3.5 6.8 44.1 19.1 23.4 -2.7 3.2 5.9 47.4 20.1 24.4 -2.0 4.2 6.2 49.7 23.3 25.7 -3.4 3.8 7.2 4.7 4.2 5.2 4.1 3.5 4.4 4.8 4.1 .7 -1.0 33 -J -1.7 -6.6 .8 -.6 n III iy I 1. Includes new trucks only. Table 2.1.—Personal Income and Its Disposition Table 2.2.—Personal Consumption Expenditures by Major Type of Product [Billions of dollars] [Billions of dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 n III rv 11 I 2,573.2 2,7053 2,6963 2,734.2 2,738.9 2,742.8 2,774.0 2,8033 Wage and salary disbursements Commodity-producing industries .... Manufacturing Distributive industries Service industries Government and government enterprises Other labor income Proprietors* income with inventory valuation and capital consumption adjustments ..... Rental income or persons with capital consumption adjustment .. Personal dividend income Personal interest income Transfer payments Old-age, survivors, disability, and health insurance benefits Government unemployment insurance benefits Veterans benefits Government employees retirement benefits Other transfer payments Aid to families with dependent Other .' Less: Personal contributions for social insurance Less: Personal tax and nontax payments 720.6 541.8 604.7 771.4 729.3 546.8 637.2 830.8 476.6 508.0 241.9 258.1 379.3 402.5 48.6 330.7 49.9 352.6 735.3 551.8 642.7 844.9 726.0 546.1 641.9 853,0 713.0 536.7 639.7 860.3 715.9 541.3 645.6 877.7 724.4 549.8 648.8 890.4 505.7 511.3 518.1 529.8 534.9 539.7 256.4 260.0 263.2 266.2 2692 272.2 401.7 397.9 406.2 404.4 417.0 418.4 51.0 350.8 42.4 355.6 48.8 357.4 48.5 355.8 51.8 365.2 43.2 375.2 731.1 548.1 637.3 82?* 82 114.4 6432 636.9 6.9 123.8 680.4 694.8 43 122.9 678.0 686.7 8.4 124.9 6853 696.4 93 126.7 687.9 715.1 5.6 126.7 682.0 745.4 5.4 125.5 6743 758* 7.6 126.7 669.4 769.0 325.3 350.7 347.6 351.1 356.8 372.1 376.9 380.9 14.7 17.3 18.2 17.9 17.3 17.9 18.2 17.9 20.9 17.9 24.2 18.0 27.6 18.7 27.3 18.4 90.1 189.5 96.9 211.1 96.0 207.8 96.9 212.3 98.6 220.9 105.0 226.1 103.4 232.2 104.4 238.1 18.0 171.6 19.8 191.3 19.6 188.2 19.9 192.4 20.5 200.4 21.1 205.0 21.7 210.5 22.0 216.1 212.8 226.2 224.1 228.6 228.9 2373 239.4 242.2 6583 699.4 696.5 709.5 716.6 714.6 716.6 3,725.5 3,946.1 3,925.7 3,969.1 4,001.9 4,0213 4,068.1 4,107.7 Less: Personal outlays 3,553.7 3»766.0 3,730.6 3302.6 3,834.4 3,852.5 3,898.0 3,9500 Personal consumption expenditures .... Interest paid by consumers to business . Personal transfer payments to EQUAIS: Personal savins 3,450.1 3,657.3 3,622.7 3.693.4 3.724.9 3,742.8 3,789.0 3,841.8 *„.. 102.2 107 8 107 5 1079 108 5 108 6 107 8 14 9 4 13 10 12 1 I 14 171.8 180.1 195.1 166.5 167.5 168.7 1702 157.7 1067 Addenda: Disposable personal income: Total, billions of 1982 dollars Per capita: Current dollars ...—. 1982 dollars Population (mid-period, millions) ... 2.869.0 2,893.5 2,902.8 2,898.0 2,872.4 2,861.9 2,877.9 2,892.5 Personal saving as percentage of disposable personal income 14,973 15.695 15,639 15.765 15,849 15,887 16,035 16,145 11,531 11,509 11,564 11.511 11,376 11,307 11343 11,369 248.8 251.4 251.0 251.8 252.5 253.1 253.7 254.4 4.6 4.6 5.0 4.2 4.2 4.2 4.2 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Personal consumption expenditures' ........... Durable goods Motor vehicles and parts Furniture and household equipment . Other Nondurable goods Food Clothing and shoes Gasoline and oil Other nondurable goods .. Pucl oil und co&l Other 3,450.1 3,6573 3,622.7 3,693.4 3,724.9 3,742.8 3,789.0 3341.8 474.6 4803 215.5 171.4 87.8 213.0 176.4 90.9 3.8 4823 212.4 176.8 89.3 468^ 4553 91.3 190.9 174.2 90.2 187.8 176.5 89.4 196.8 178.9 91.8 1,130.0 1,193.7 1,179.0 1,205.0 1,216.0 1,212.7 1,221.7 1,229.5 636.7 642.8 595.3 624.7 623.3 629.8 213.3 218.4 221.8 204.6 213.2 212.6 90.8 93.9 84.5 93.8 83.8 246.3 261.9 258.6 265.4 265.6 268.7 269.7 16.8 17.7 19.6 17.4 18.5 17.7 19.3 256.0 228.7 243.4 241.2 245.7 246.3 251.0 1,845.5 1,9833 1,9653 2,0062 2,040.4 2,074.8 2,113.6 2,144.9 Services > Housing Household operation Electricity and gas Other Transportation Medical care Other1 533.9 206.3 97.7 108.6 126.4 434.3 544.5 569.5 211.3 96.4 115.0 136.6 483.4 582.5 563.6 211.9 97.5 114.4 135.2 475.8 578.9 575.8 212.7 96.4 116.3 137.4 491.5 588.7 582.1 215.5 99.1 116.4 141.5 503.8 597.6 587.1 216.1 98.1 118.0 145.0 515.2 611.4 592.5 221.9 101.1 120.7 146.8 529.8 622.7 600.0 221.4 99.0 122.4 150.0 543.6 629.9 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. Table 2.3.—Personal Consumption Expenditures by Major Type of Product in Constant Dollars [Billions of 1982 dollars] Seasonally adjusted at annual rates 1989 ' 1990 Personal consumption expenditures' Durable goods Motor vehicles and parts Furniture and household equipment ... Other Nondurable goods .„....,..„.... Food Clothing and shoes Gasoline and oil Other nondurable goods Fuel oil and coal Other Services» Housing „ Household operation Electricity and fas .. . Other I Transportation Medical care . ...................... Other1 1991 1990 n 716.7 Equals: Disposable personal income ... . 1991 1990 III 4,3843 4,645.5 4,622.2 4,678.5 4,718.5 4,735.8 4,784.7 4,824.4 Personal income Nonfaim 1991 1990 1990 III IV I 11 III 2,656.8 2,681.6 2 , 6 7 0 2,696.8 2,673.6 2,663.7 2,680.5 2,7053 428.0 427.4 426.8 429.5 415.6 402.9 401.4 410.4 181.4 175.0 71.6 177.7 1793 70.4 177.8 180.0 69.0 179.6 179.7 70.2 169.4 176.3 69.9 157.2 177.6 68.2 153.9 180.5 66.9 159.6 1818 68.1 919.9 911.1 911.2 916.4 901.2 897.1 9022 908.7 462.9 172.7 96.7 187.7 21.9 165.7 457.4 172.6 94.8 186.3 19.2 167.1 459.3 171.3 93.9 186.8 20.4 166.4 459.4 174.4 94.4 188.3 21.0 167.2 453.6 170.6 94.6 182.3 16.7 165.7 453.5 167.0 93.1 183.5 17.6 165.9 453.3 171.1 94.5 183.3 18.6 164.7 458.0 172.7 94.0 184.0 19.0 165.0 1309.0 1343.1 1340.8 13503 1356.7 1363.7 372.1 377.1 167.6 167.8 84.1 ' 81.4 83.4 86.3 96.9 100.3 286.1 301.5 386.4 396.5 376.9 168.5 82.4 86.0 99.7 299.3 396.4 377.2 170.1 82.7 87.4 100.9 304.6 398.0 1. See the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 378.1 169.6 82.8 86.8 102.0 307.3 399.7 378.1 166.1 79.8 86.3 101.2 309.8 408.5 13763 13862 379.2 170.3 82.9 87.4 103.0 313.0 411.4 380.0 170.1 82.4 87.7 104.4 317.1 414.6 SURVEY OF CURRENT BUSINESS October 1991 Table 3.2.—Federal Government Receipts and Expenditures Table 33.—State and Local Government Receipts and Expenditures [Billions of dollars] [Billions of dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 n Receipts 1,052 9 Personal tax and nontax receipts Income taxes Estate and gift taxes ............................ Nontaxes 464.0 453.1 9.0 1.8 Corporate profits tax accruals ................. Federal Reserve banks Other 110.4 21.6 88.8 IV III 109.2 22.1 87.1 114.2 23.6 90.6 Indirect business tax and nontax Excise taxes Customs duties Nontaxes 58.4 34.1 17.5 6.8 I.. „.. 60.5 36.5 17.3 6.7 61.0 36.7 17.5 6.7 420.1 1,187.2 Expenditures Purchases of goods and services National defense ................. Nondefense 471.9 458.6 13.4 Transfer payments To foreigners 61.7 37.3 17.5 6.8 446.7 444.0 450.6 1275.7 1,271.7 1271.6 424.0 421.9 425.8 400.0 313.6 309.6 312.6 301.1 110.4 112.3 1132 98.9 Contributions for social insurance ....................... 511.4 496.8 14.6 Grants-in-aid to State and local &OVemmerttS ........a................... 118.2 131.4 Net interest paid Interest paid ..... To persons and business To foreigners 172.0 191.7 155.7 36.0 186.3 206.4 167.7 38.8 20.2 19.6 Less; Interest received by government Subsidies less current surplus of government enterprises Subsidies Less: Current surplus of government enterprises .. Less: Wage accruals less disbursements Surplus or deficit (-), national income and product accounts .. Social insurance funds Other n I 510.4 491.4 18.9 513.2 496.1 17.0 104.1 22.7 81.4 497.1 483.4 11.7 2.0 97.6 21.4 76.2 72.7 72.8 71.9 49.3 49.1 48.9 16.6 16.0 16.6 6.9 6.8 7.1 452.3 465.5 469.5 475.0 1310.8 1,261.4 1323.1 1337.1 437.6 443.8 449.7 436.8 325.0 331.2 325.7 318.7 112.6 112.6 124.0 118.1 518.5 462.2 509.4 5433 509.3 534.3 541.8 546.3 9.2 -72.1 -32.4 -3.0 135.8 193.0 213.8 174.1 39.7 18.7 20.8 143.7 194.3 215.9 176.8 39.1 21.5 151.0 197.6 218.7 179.8 38.9 21.1 152.0 199.8 220.8 181.9 38.9 21.0 25.0 27.9 22.7 26.9 23.8 25.6 13.1 17.3 25.9 32.3 17.4 29.5 15.0 29.2 5.2 20.4 28 0 42 1.9 0 42 6.4 12.1 15.2 0 0 0 14.2 -.4 0 -1343 -166.0 -166.0 -145.7 -1843 -126.9 -1S4.6 65.2 55.9 56.3 67.5 64.0 64.0 63.8 -198.1 -230.0 -230.0 -213.2 -249.5 -182.8 -240.8 Persona] tax and nontax receipts Income taxes >. Nontaxes Other „ Corporate profits tax accruals ................. Indirect business tax and nontax accruals 64.6 40.4 17.5 6.7 129.8 189.8 210.4 171.4 39.0 20.6 131.5 184.3 203.0 164.3 38.7 95.0 22.2 72.8 n Receipts Sales taxes Property taxes Contributions for social insurance .......... Federal grants-in-aid ...................... Expenditures „..„.„.....,. ...... Purchases of goods and services ............ Compensation of employees ............... Other „ Transfer payments to persons .„ Net interest paid „. Interest paid ». Less: Interest received by government Less: Dividends received by government Subsidies less current surplus of government cntcipriscs ««**•»#.••-•*•••"•« Subsidies Less: Current surplus of government enterprises Less: Wage accruals less disbursements 0 Surplus or deficit (-), national income and product accounts Social insurance funds Other ! !""....." III IV 817.5 827.8 844.7 m ........... 211.1 107.8 86.3 17.0 22.4 2133 217.1 219.5 108.1 87.9 17.3 20.1 109.9 89.6 17.5 21.0 1103 91.4 17.8 386.7 388.7 185.2 153.7 47.8 61.4 183.7 156.0 48.9 62.1 392.9 185.6 158.5 48.8 62.8 402.6 192.2 161.1 493 63.4 151.0 8062 8173 701.6 423.8 277.8 708.7 429.1 279.6 -43.7 67.6 1113 112 749.9 194.8 800.5 206.6 792.2 204.4 808.6 209.4 101.7 77.6 15.6 1062 83.8 16.6 23.6 105.0 83.0 16.5 23.9 108.0 84.7 16.7 355.6 170.9 139.9 44.7 378.6 372.5 181.4 150.1 472 56.7 1182 602 131.4 177.5 143.8 46.3 59.9 383.9 184.2 151.4 48.2 703.5 625.6 373.0 252.6 765.1 674.1 400.9 273.2 145.9 -402 59.1 993 9.1 162.9 -41.6 160.6 -41.4 63.0 104.6 10.1 615 103.9 -18.8 -20.3 .8 -20.1 24.7 19J 0 46.4 66.4 -19.9 1991 1990 1990 III 1,109.7 1,105.8 1,125.9 1,126.5 1,134.5 1,138.5 492.8 492.1 500.0 505.5 501.3 499.5 479.1 474.3 487.0 493.2 488.5 486.0 10.3 11.5 11.1 15.7 11.7 10.8 2.1 2.0 2.0 2.0 2.0 2.0 108.5 22.6 86.0 1989 1991 1990 1990 24.9 131.5 753.6 60.7 129.8 769.4 664.6 677.0 397.5 267.1 404.5 272.6 164.9 n I 135.8 143.7 791.8 797.8 697.7 695.3 4112 284.0 169.7 -422 417.8 279.8 174.4 10.5 10.8 -20.5 .8 -20.9 .8 -21.0 .8 -21.1 .8 -20.6 .8 21.0 0 20.9 21.3 213 21.7 21.7 0 0 0 0 0 21.9 0 35.4 69.4 -34.0 38.6 69.1 -30.4 393 69.8 -30.5 25.7 30.0 71.1 -41.0 38.6 71.6 -33.1 10.0 64.6 106.8 70.4 -44.8 -42.6 65.6 1082 [Billions of dollars] [Billions of 1982 dollars] Iseasonally Seasonally adjusted at annual rates 1989 1991 Government purchases of goods and services 1,025.6 1,098.1 1,086.4 1,102.8 400.0 424.0 421.9 425.8 National defense Durable goods « Nondurable goods Services Compensation of employees .. Military Civilian .; * Other services ., Structures Nondefense .., Durable goods Nondurable goods Commodity Credit Corporation inventory change Other nondurables Services Compensation of employees .... Other services Structures State and local Durable goods Nondurable goods .......... Services Compensation of employees Other services Structures 1,141.5 1,1513 1,145.5 437.6 443.8 449.7 325.7 88.2 11.3 220.9 131.5 87.1 44.4 301.1 80.9 10.4 203.3 119.0 78.8 402 84.3 6.4 .98.9 5.3 1.4 313.6 85.1 13.0 209.2 124.4 82.5 41.8 84.8 6.3 110.4 5.7 4.4 309.6 81.7 11.6 209.6 124.0 822 41.8 85.6 6.7 1123 5.6 5.6 312.6 86.6 11.9 207.5 1243 82.4 41.9 832 6.6 1132 5.8 72 325.0 93.6 18.4 207.3 125.8 83.5 422 81.5 5.7 112.6 6.0 4.8 3312 91.6 15.6 218.9 132.1 88.1 44.1 86.7 5.1 1116 5.7 3.7 -5.3 6.7 85.1 49.5 35.6 7.0 625.6 -2.4 6.8 91.9 54.1 37.8 8.3 674.1 -1.9 7.5 92.8 55.2 37.6 83 664.6 .4 6.8 92.1 54.1 38.1 8.1 -1.4 62 92.9 54.1 38.8 8.9 -1.5 52 94.3 563 37.9 8.9 33.0 53.9 506.6 400.9 105.7 80.5 32.7 51.5 5023 397.5 104.8 78.0 677.0 33.4 54.1 510.6 404.5 106.1 78.9 6953 30.5 49.9 472.4 373.0 99.4 72.9 33.9 57.9 519.4 4112 108.1 436.8 843 53 11.6 218.0 130.9 86.3 44.6 87.1 4.8 6.3 11.4 6.3 5.0 -1.8 6.9 97.1 57.1 40.0 9.7 697.7 4.8 6.6 95.9 56.8 39.1 10.5 701.6 34.5 54.5 5283 417.8 110.5 80.3 34.7 53.2 5352 423.8 111.5 78.5 89.4 723 708.7 34.4 53.4 541.1 429.1 Government purchases of goods and services Federal ~ „ National defense Durable goods ......... Nondurable goods . '. Services Compensation of employees Military ~ « — Civilian „ Other services „ Structures ..*................. Nondefense ....Durable goods Nondurable goods Commodity Credit Corporation inventory change „....*..... Other nondurables Compensation of employees Other services Structures .'............. adjusted at annual rates 1990 1990 n Federal .8 59.4 Table 3.8B.—Government Purchases of Goods and Services by Type in Constant Dollars 1990 184.7 179.6 -43.1 66.6 109.7 11.0 -41.8 63.6 1053 102 Table 3.7B.—Government Purchases of Goods and Services by Type 1989 152.0 1991 III rv I II III 819.4 798.1 334.9 820.8 343.7 820.2 822.7 345.9 346.0 8323 349.9 349.5 833.4 3542 2563 81.5 13.1 156.7 89.6 59.8 29.9 67.1 5.0 258.7 84.5 14.7 154.7 89.1 59.5 29.6 65.6 4.7 256.5 81.5 14.7 155.2 88.8 592 29.6 66.4 5.1 258.2 86.6 13.8 152.9 89.0 593 29.6 64.0 4.9 265.7 90.7 18.4 152.4 89.7 60.1 29.6 62.7 43 267.5 89.9 17.5 1562 90.6 61.0 29.6 65.6 3.8 259.4 86.1 13.3 156.0 89.6 60.0 29.7 66.4 3.9 78.7 5.9 12 85.0 63 3.9 89.4 62 7.6 87.8 63 7.0 84.2 6.6 2.4 82.0 6.6 94.9 6.8 111 340.8 254.1 83.3 14.5 152.9 88.7 59.0 29.7 64.2 33 86.6 7.1 3.9 -4.7 5.9 658 36.9 28.9 5.8 -1.8 '' I.I 6.5 5.7 689 68.1 39.4 38.5 29.5 29.6 6.7 6.7 1.3 5.7 68.0 38.4 29.6 6.5 -2.5 5.0 68.1 38.1 29.9 7.1 -1.5 2.9 67.0 38.1 29.0 7.1 6.8 53 67.7 38.1 29.5 $2 -1.6 5.5 681 382 29.9 7J 829.6 „„ 4632 477.1 4743 476.7 4814 480.1 479.1 478.7 Durable goods „ „.. Nondurable goods Services Compensation of employees Other services „..„ Structures ....„„.. 262 48.3 3297 257.0 72.7 59.0 27.7 49.1 335.8 262.1 73.7 64.4 27.6 49.0 335 2 261.7 73.6 62.5 27.9 492 336.5 262.7 73.8 63.0 282 49.4 337.7 263.6 74.0 67.2 28.3 49.5 338.6 264.4 74.2 63.7 28.4 49.6 3392 264.9 74.3 61.9 28.0 492 338 9 265.1 73.8 615 State and local SURVEY OF CURRENT BUSINESS 10 October 1991 Table 3.9.—National Defense Purchases of Goods and Services Table 3.10.—National Defense Purchases of Goods and Services in Constant Dollars [Billions of dollars] [Billions of 19S2 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 II National defense purchases Durable goods Aircraft . Missiles Ships Vehicles Electronic equipment Other . Other durable goods , Nondurable goods Petroleum products Ammunition , Other nondurable goods Services .... ....,.,..„ , . 2 Weapons support Personnel support* Transportation of materiel Travel of persons Other Structures ......... IV 309.6 81.7 73.0 25.2 14.2 10.6 3.8 5.8 13.4 8.7 11.6 5.2 3.9 2.5 312.6 S6.6 325.0 93.6 82.7 30.8 15.7 12.3 3.5 5.7 14.7 10.9 18.4 331.2 91.6 79.0 25.3 17.4 10.5 3.3 6.3 16.2 12.7 15.6 10.8 4.9 2.7 7.3 4.9 3.4 209.6 2033 75.8 26.6 15.1 10 8 3.6 6.1 13.5 9.4 13.0 6.4 4.0 2.5 209.2 124.4 82 5 41 8 84.8 124.0 82.2 41.8 85.6 207.5 124.3 82.4 41.9 83.2 207.3 125.8 83.5 42.2 81.5 218.9 119.0 78 8 402 84.3 132.1 88.1 44.1 86.7 131.5 87.1 44.4 89.4 31 1 25.0 8.8 11.5 3.8 42 -.1 33 3 207 8.2 11.8 5.4 5.1 2 34.2 21.6 8.7 11.6 4.4 4.7 .4 33.2 19.6 7.7 11.6 5.7 5.2 0 31.8 17.0 7.3 11.7 7.3 6.0 .3 30.9 20.6 8.7 12.4 7.5 6.2 .3 32.6 20.2 9.0 14.1 7.3 6.1 0 32.5 20.0 8.8 14.8 5.6 5.4 .1 6.4 63 3.7 2.6 6.7 6.6 S.7 4.8 3.9 2.6 3.0 2.7 5.1 2.5 2.6 S3 4.0 2.7 2.8 2.5 2.7 2.1 313.6 85.1 77.3 25.8 15.8 10.2 3.8 6.1 15.5 9.4 11.9 5.3 3.9 2.7 II 1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations. 2. Includes depot maintenance and contractual services for weapons systems, other than research and development. 3. Includes compensation of foreign personnel, consulting, training, and education. National defense purchases Durable goods Military equipment Aircraft Missiles Ships Vehicles Electronic equipment Other durable coods Nondurable goods Petroleum products Other nondurable goods Services Compensation of employees Military Civilian Other services „„..»,+ *.*.***»**•***.*.*»+*• Contractual research and development l Installation support Personnel support3 Transportation of materiel............... Travel of persons ............................. Other Structures Military facilities Other 1991 1990 1990 III 318.7 84.3 73.4 24.2 13.3 10.0 3.8 6.2 15.8 10.9 11.6 5.4 3.1 3.1 218.0 130.9 86.3 44.6 87.1 4.1 2.4 Military facilities Other II ^1 III 325.7 88.2 77.0 25.9 14.2 10.5 3.7 6.8 15.9 11.2 1U 4.0 4.0 3.3 220.9 301.1 80.9 71.6 26.6 130 99 36 6.4 12.2 9.3 10.4 4.3 3.5 2.7 Compensation of employees Military Civilian Other services Contractual research and development.... 1989 1991 1990 1990 256.5 III IV 2583 86.6 265.7 90.7 76.8 28.8 17.2 9.5 3.7 5.1 12.5 14.0 18.4 n I III 267.5 89.9 73.3 23.7 18.9 8.1 3.3 5.6 13.6 16.6 17J 9.2 5.6 2.7 156.2 90.6 61.0 29.6 65.6 259.4 86.1 70.8 24.1 15.7 8.0 3.7 6.1 13.2 15.3 133 6.6 4.1 2.6 156.0 89.6 60.0 29.7 66.4 254.1 833 67.6 22.4 15.0 7.7 3.8 5.6 13.2 15.7 145 8.5 3.5 2.5 152.9 88.7 59.0 29.7 64.2 24.3 12.4 5.7 7.9 7.2 5.0 .2 23.3 14.7 6.8 8.3 7.2 5.2 24.2 14.4 6.9 9.3 6.7 5.1 0 24.1 14.2 6.7 9.7 5.0 4.4 .1 4.9 43 3.8 3.9 3.5 2.9 2.0 2.2 2.1 1.8 2.0 2.0 1.9 1.9 1.6 256.3 81.5 69.6 26.8 14.5 7.9 39 5.8 10.6 11.9 13.1 7.4 35 2.2 156.7 258.7 84.5 72.1 26.3 16.3 8.4 39 5.5 11.5 12.5 14.7 8.5 4.2 2.0 154.7 81.5 69.7 25.3 15.3 8.3 4.1 5.2 11.5 11.8 14.7 8.7 4.0 2.0 155.2 89.6 59 8 29.9 67.1 89.1 59 5 29.6 65.6 88.8 59.2 29.6 66.4 24 9 18.8 7.2 8.2 4.1 3.9 -.1 25.9 15.1 6.5 8.0 5.5 4.4 .2 25.6 14.1 6.1 7.7 5.8 4.5 0 5.0 4.7 26.8 15.7 6.9 8.0 4.6 4.1 .3 5.1 3.1 1.9 2.7 2.0 3.0 2.1 74.1 26.1 17.0 8.0 4.2 5.5 13.3 12.5 13.8 7.4 4.2 2.2 152.9 89.0 59.3 29.6 64.0 11.1 5.2 2.1 152.4 89.7 60.1 29.6 62.7 1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations. 2. Includes depot maintenance and contractual services for weapons systems. 3. Includes compensation of foreign personnel, consulting, training, and education. Table 4.2.—Exports and Imports of Goods and Services in Constant Dollars Table 4.1.—Foreign Transactions in the National Income and Product Accounts [Billions of 1982 dollars] [Billions of dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 1991 1990 II 1 Exports of goods and services 626.2 626.2 369.9 240.8 129.2 256.3 135.2 121.0 Receipts from foreigner?' .... Exports of goods and services2 Merchandise 2 2 Durable goods Nondurable goods Servicesl Factor3 income3 * Other Capital grants received by the United Slates (net) Payments to foreigners6 672.7 672.8 672.8 397.9 262.5 137.4 659.7 395.0 263.2 131.8 264.7 130.5 134.2 393.5 262.0 131.4 279.3 139.6 139.7 697.4 697.4 409.1 266.1 143.0 288.3 694.5 694.5 410.7 263.0 147.7 283.8 145.6 138.3 700.8 424.8 285.0 275.9 693.5 280.1 141.4 272.0 Imports of goods and services* Merchandise 2 2 Durable goods Nondurable goods Services * Factor7 income3 Other Transfer payments (net) From persons (net) From government (net) Interest paid by government to foreigners Net foreign investment 672.8 626.2 672.3 480.9 309.6 171.3 191.4 97.7 93.8 502.7 311.6 191.1 201.3 95.7 105.6 14.8 1.4 13.4 15.5 .9 14.6 659.7 684.6 484.1 307.6 176.5 200.5 98.9 19.4 .4 18.9 96.7 109.2 697.4 726.2 520.9 315.4 205.5 205.3 94.0 111.2 694.5 681.0 484.9 302.4 182.5 196.1 90.8 105.3 18.3 1.3 17.0 10.2 1.0 9.2 -70.9 1.2 672.7 316.5 700.8 682.6 487.5 87.4 107.7 -31.3 -72.1 1.1 -32.4 503.4 318.2 185.2 191.5 82.6 108.9 -1.6 1.4 -3.0 36.0 38.8 38.7 39.0 39.7 39.1 38.9 38.9 -96.8 -S5.5 -82.9 -98.7 -78.7 45.3 10.6 -38.7 1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to "other" services. 3. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7. 4. Estimates beginning with thefirstquarter of 1986 exclude nonintcrest income of banks, which was reclassified to "other" services. 5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the United States; cover repairs and alterations of equipment; and cover noninterest income of banks. 6. See footnote 7 and the box on page 21 of ihe July 89 SURVEY OF CURRENT BUSINESS. 7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on navel and passenger fares; cover U.S. students' expenditures abroad; cover repairs and alterations of equipment .. Services1 Factor income3 * . . . Other3 Imports of goods and services6 Merchandise2 2 Durable goods Nondurable goods 0 :. Merchandise2 2 Durable good* Nondurable goods Services6 Factor income3 Other7 . 1991 1990 1990 III IV 5933 631.5 620.1 630.5 647 J! 390.8 268.9 121.9 423.9 296.2 127.7 421.0 296.3 124.6 202.6 105.1 97.5 647.4 207.6 102.2 105.4 418.4 293.4 125.0 201.7 97.4 104.3 664.7 433.8 302.3 131.4 213.4 106.2 107.2 499.3 302.9 196.4 517.0 313.3 203.7 526.5 317.5 209.0 656.0 508.4 317.0 191.5 148.2 74.9 73.2 148.3 70.3 78.0 515.2 310.2 205.0 149.4 72.9 76.5 150.5 70.6 79.9 147.6 68.1 79.5 6653 209.5 103.2 106.4 677.0 I 648.0 441.4 303.8 137.6 206.7 105.3 101.4 641.0 501.7 309.7 192.1 139.2 64.8 74.5 II III 655.1 6553 455.6 324.0 131.6 199.4 93.5 105.9 667.6 460.0 323.7 136.2 530.5 320.9 209.6 195.3 88.7 106.6 688.1 554.6 344.4 210.3 137.1 61.6 75.5 133.5 57.8 75.7 1. See footnote 5 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 2. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassified to "other" services. 3. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8. 4. Estimates beginning with the first quarter of 1986 exclude noninterest income of banks, which was reclassified to "other" services. 5. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on travel and passenger fares; cover foreign students' expenditures in the United States; cover repairs and alterations of equipment; and cover noninterest income of banks. 6. See footnote 7 and the box on page 21 of the July 89 SURVEY OF CURRENT BUSINESS. 7. Estimates beginning with the first quarter of 1986 cover many business, professional, and technical services and incorporate improved measurement of telecommunications services and insurance services; incorporate new source data on travel and passenger fares; cover U.S. students' expenditures abroad; cover repairs and alterations of equipment 11 SURVEY OF CURRENT BUSINESS October 1991 Table 43.—Merchandise Exports and Imports by Type of Product and by End-Use Category Table 4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Constant Dollars {Billions of dollars] [Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1990 1989 1991 1990 Merchandise exports l 2 Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods Capital goods, except autos Autos ......I Consumer goods Durable goods Nondurable goods Other1 2 Durable goods' 3 3.„."."!." .' Nondurable goods Merchandise imports 1 Foods, feeds, and beverages Industrial supplies and materials, excluding petroleum Durable goods Nondurable goods Petroleum and products Capital goods, except autos Autos Consumer goods Durable goods Nondurable goods Other1 Durable goods l 3 3 Nondurable goods . 369.9 397.9 395.0 393.5 409.1 410.7 424.8 421.5 36.6 96.0 34.3 61.7 138.0 34.7 35.4 19.1 16.3 29.3 14.6 14.6 35.4 102.4 36.0 66.4 153.5 36.3 43.0 23.1 19.9 27.4 13.7 13.7 36.8 97.8 35.0 62.7 154.2 38.5 42.0 22.5 19.5 25.7 12.9 12.9 33.6 100.0 35.8 64.2 151.8 36.1 43.7 24.1 19.5 28.3 14.2 14.2 32.5 111.1 37.4 73.7 155.1 35.9 45.7 23.3 22.4 28.8 14.4 14.4 36.3 110.2 36.0 74.2 155.0 32.9 45.7 23.9 21.9 30.5 15.3 15.3 34.4 107.1 37.7 69.5 169.7 39,1 44.3 23.5 20.8 30.2 15.1 15.1 36.0 106.0 36.6 69.4 163.8 41.2 44.4 23.5 20.9 30.1 15.1 15.1 480.9 502.7 484.1 508.1 520.9 484.9 25.1 26.5 26.8 25.5 26.0 25.5 27.9 78.3 42.3 36.0 50.9 113.1 86.0 102.8 55.8 47.0 24.7 12.4 12.4 76.8 38.5 38.3 62.3 117.2 86.2 105.0 55.3 49.7 28.7 14.4 14.4 76.7 38.6 38.1 48.7 115.6 84.9 103.3 54.4 49.0 28.1 14.0 14.0 77.1 38.5 38.6 62.8 116.7 90.4 106.2 56.1 50.1 29.4 14.7 14.7 76.8 37.9 38.9 75.3 121.0 85.6 107.1 56.4 50.7 29.2 14.6 14.6 73.3 35.2 38.1 56.1 120.0 81.6 100.7 51.7 49.0 27.7 13.8 13.8 75.0 35.6 39.4 54.9 121.9 78.2 100.5 52.2 48.3 29.1 14.6 14.6 74.5 35.4 39.1 56.0 122.7 90.0 106.0 56.0 50.0 28.2 14.1 14.1 41.5 328.5 430.0 40.4 357.6 440.4 41.3 353.7 435.5 38.9 354.5 445.3 37.4 371.7 445.6 39.3 371.3 428.8 37.8 387.1 432.6 39.2 Merchandise exports l 503.4 flflfr^rniiticiiiSt imports III IV I II III 390.8 423.9 418.4 421.0 433.8 441.4 455.6 460.0 35.8 92.2 32.8 59.4 176.4 28.9 30.9 17.6 13.4 26.5 13.3 13.3 36.6 97.7 34.6 63.1 193.8 29.6 36.6 20.9 15.7 24.4 12.2 12.2 36.9 95.2 34.1 61.1 196.1 31.4 35.8 20.3 15.5 23.0 11.5 11J 34.9 95.9 34.2 61.7 198.1 29.4 37.3 22.0 15.4 25.3 12.7 12.7 34.7 102.6 35.8 66.8 203.6 29.2 38.3 21.0 17.2 25.4 12.7 117 38.1 103.4 34.0 69.4 208.8 26.3 37.9 21.3 16.7 26.9 13.4 13.4 34.9 103.5 36.1 67.4 223.0 31.1 36.6 20.5 16.1 26.5 13.3 13.3 37.5 104.4 35.2 69.3 222.0 32.6 36.8 20.6 16.2 26.6 13.3 13.3 4993 517.0 515.2 526.5 508.4 501.7 530.5 554.6 23.9 24.8 25.6 23.5 23.7 23.6 24.9 23.2 72.3 39.2 33.1 93.8 143.7 63.8 81.5 46.1 35.4 204 10.2 10.2 72.5 37.1 35.4 95.5 156.4 63.3 81.1 44.8 36.3 23.4 11.7 11.7 72.3 37.0 35.2 96.9 154.3 63.3 79.8 44.0 35.7 23.1 11.5 11.5 73.0 36.8 36.2 100.9 156.1 66.8 82.2 45.8 36.4 24 0 12.0 12.0 72.6 36.6 36.0 83.3 161.7 61.6 81.9 45.3 36.6 23 6 11.8 11.8 68.2 34.0 34.2 87.8 165.8 57.7 76.6 41.1 35.5 221 11.0 11.0 71.6 34.9 36.7 100.9 176.8 55.3 77.5 42.2 35.3 23 5 11.8 11.8 72.2 35.4 36.8 102.2 188.7 63.6 82.0 45.3 36.6 22.7 11.4 11.4 39.6 351.2 405.5 40.1 383.8 421.5 39.9 378.5 418.3 38.6 382.4 425.5 38.3 395.5 425.1 39.5 401.9 414.0 36.8 418.9 429.6 39.3 420.7 452.4 Foods, feeds, and beverages Industrial supplies and materials Durable goods „ Nondurable goods Capital goods, except autos Autos , Consumer goods Durable goods Nondurable goods . Other1 2 Durable goods' 3 „„... 3 Nondurable goods ****+***»»*•*• Foods, feeds, and beverages Industrial supplies and materials. excluding petroleum .„ Durable goods Nondurable goods Petroleum and products Capital goods, except autos Autos Consumer goods ....«...,...„.„„..„.,....„..„„ Durable goods Nondurable goods .. ... Other1 . . . Durable goods 1 3 Nondurable goods3 Addenda: Exports of agricultural products4 Exports of nonagricultural products Imports of nonpetroleum products . 3 1991 1990 n 111 Addenda: Exports of agricultural products4 Exports of nonagricultural products ... Imports of nonpctroleum products 382.3 1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was reclassificd to services other than factor income. 2. Beginning with 1987,reexports—thatis, exports of foreign merchandise—are assigned to end-use categories in the same manner as exports of domestic merchandise. For earlier periods, all reexports are included in the "other" categories. 3. Because no data are available to distribute exports and imports of "other" merchandise between durable and nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods, estimates were distributed equally. 4. Includes parts of line 2 and line 5. 1. Estimates beginning with the first quarter of 1986 exclude repairs and alterations of equipment, which was ^classified to services other than factor income. 2. Beginning with 1987,reexports—thatis, exports of foreign merchandise—are assigned to end-use categories in the same manner as exports of domestic merchandise. For earlier periods, all reexports are included in the "other" categories. 3. Because no data are available to distribute exports and imports of "other" merchandise between durable and nondurable goods prior to 1986, or to distribute imports of "other" merchandise for all time periods, estimates were distributed equally. 4. Includes parts of line 2 and line 5. NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter 1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57. NOTE.—Beginning with 1985, the definitions of the end-use categories have been changed. For a description of the new definitions, see the technical notes in "U.S. International Transactions, First Quarter 1988," SURVEY OF CURRENT BUSINESS 68 (June 1988): 34-39 and 57. Table 5.1.—Gross Saving and Investment [Billions of dollars] Seasonally adjusted at annual rates 1989 1990 1990 II Gross saving ..... Gross private saving Personal saving ., Undistributed corporate profits with inventory valuation and capital consumption adjustments Undistributed profits Inventory valuation adjustment Capital consumption adjustment Corporate capital consumption allowances with capital consumption adjustment Noncorporate capital consumption allowances with capital consumption adjustment Wage accruals less disbursements Government surplus or deficit (-), national income and product accounts Federal State and local III 1991 IV I n til 691.5 6573 679J 665.9 619.2 697.1 649.1 779.3 171.8 787.9 180.1 806.7 195.1 772.2 166.5 777.8 167.5 793.9 168.7 795.1 170.2 157.7 53.0 49.1 -21.7 25.5 32.2 38.7 -11.4 4.9 40.5 33.2 7.7 26.5 44.3 -19.8 2.0 25.2 40.4 -13.8 -1.4 33.6 29.0 8.1 -3.5 29.3 24.2 4.9 2 -3.2 6.4 346.4 363.0 359.7 365.5 370.3 375.6 378.0 381.0 208.0 0 212.6 0 211.4 0 213.8 0 214.8 0 216.0 0 217.6 0 220.4 0 - 8 7 8 -130.6 -1273 -106.4 —158.6 -96.8 -146.0 -1343 -166!o -166.0 -145J -184.3 -12&9 -184!6 39.3 25.7 38.6 46.4 35.4 38.6 30.0 Capital grants received by the United States (net) Gross investment 0 674.4 0 655.6 0 676.1 0 661.0 0 619.6 0 7053 0 664.6 0 646.1 Gross private domestic investment Net foreign investment Statistical discrepancy .......... 771.2 -96.8 -17.0 741.0 -85.5 -1.7 759.0 -82.9 -3.2 759.7 -98.7 -A3 698.3 -78.7 .4 660.0 45.3 %2 654.0 10.6 15.4 684.8 -38.7 12 SURVEY OF CURRENT BUSINESS October 1991 Table 5.8.—Change in Business Inventories by Industry Table 5.9.—Change in Business Inventories by Industry in Constant Dollars [Billions of dollars] (Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1989 n Change in business inventories Nonfann , Change in book value Inventory valuation adjustmentl Manufacturing .: Durable goods ...., Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods -5.0 23.3 51.9 -7.4 16.0 13.0 14.1 -4.6 -4.4 -.2 2.2 2.2 -.1 3.2 11 1.9 0 1.9 1.8 2.6 .4 -.4 .8 Nonmerchant wholesalers Durable goods Nondurable goods Retail trade Durable goods 1.3 .2 1.1 9.2 6.5 3.4 3.1 2.7 -7.9 -7.5 -8.1 .6 -.4 Automotive Other Nondurable goods Other Durable goods Nondurable goods 28J 5.0 !.. 3.0 -1.4 4.3 4.1 -1.7 5.8 9.0 2.2 6.8 53.9 -47.0 5.4 3.4 2.0 1.8 5.7 -3.9 1.1 6.1 -5.0 .7 -.4 1.1 .8 3.0 3.8 -.9 -2.1 -1.2 -2.3 1.1 -30.8 1.5 -32.4 -2.5 -29.8 -20,7 -12.8 -7.9 4.0 1.2 2.9 6.7 2.2 4.6 -2.7 -1.0 -1.7 -10.8 -14.8 -12.6 -2.2 4.0 -4.9 -6.0 1.1 -52.2 -.5 5.1 3.8 1.2 -2.6 -.9 -1.7 -29.7 -25.7 -21.3 -4.3 -6.3 -9.4 3.1 -35.2 ^3.4 -16.4 -20.0 3.7 2.0 -.1 -1.8 1.7 -1.5 .4 1.0 -.4 -2.5 2.1 -14.4 -U.I -3.3 -13.5 -11.2 -2.3 -.2 1.4 -1.6 .8 1.1 -.3 -1.0 .3 -1.3 1.1 -.1 1.1 -1.2 1.2 -1.9 -2.4 .5 23.8 5.0 Change in business inventories -17.5 -34.2 18.7 Nonfarm . Manufacturing ...........»...»..*........... Durable goods Nondurable goods 3.8 4.2 -.4 1.3 2.3 -1.0 Wholesale trade Durable goods Nondurable goods 2.5 2.4 0 -12 -A -1.0 Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable coods ...«.(....................... Nondurable goods Durable goods Other Nondurable goods ... Other Durable goods Nondurable goods 1991 1990 1990 1989 1991 1990 1990 III 4.7 IV n I -3.6 93 1.5 -5.1 -2.1 0 11.6 -28.5 -3.9 -3.9 0 2.4 1.9 .5 1.6 2.2 -.6 .8 -.3 1.1 -2.6 -4.3 1.7 2.9 0 2.9 1.2 -.2 1.4 1.7 .2 15 7.6 5.4 2.8 26 22 4.7 3.7 2.9 .8 1.5 4.9 -3.4 -18.3 -11.3 -7.0 3.2 .7 2.6 -1.3 -8.4 7.1 .6 5.4 5.8 1.6 4.2 -14.0 -15.1 1.1 .9 -.5 1.4 .8 2.4 3.2 -.8 -1.5 -2.5 -.9 -1.6 -9.3 -12.4 -10.4 -2.0 3.1 6.0 3.6 2.5 -3.0 -.7 -2.3 -24.7 -21.3 -17.6 -3.7 -3.4 -1.3 -1.9 .6 -4.1 -5.0 .9 -5.0 -7.8 2.8 -.7 -2.0 1.4 6.9 1.9 2.4 -.5 5.0 -66 -6.3 "6.7 .5 6.8 1.5 5.3 3.0 -1.2 4.1 3.7 -1.4 5.1 -26.4 -25.0 -333 2.1 3.1 -28.1 -6.1 -27.2 -12.7 -16.0 3.3 -12.8 -16.9 4.1 3.0 2.8 .2 1.3 -1.8 3.0 -1.0 .4 .8 -.4 -1.4 III -15.1 -2.2 -12.9 -11.8 -9.2 -2.6 -.4 1.1 -1.5 1.1 .7 .4 -1.5 .4 -1.9 .8 -.1 .9 -1.0 .9 -1.5 -1.9 .4 1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that adjusts business incomes. The IVA in this table reflects the mix of methods (first-in,first-out;last-in, first-out; etc.) underlying book value inventories derived primarily from Census Bureau statistics. This mix differs from that underlying business income derived primarily from Internal Revenue Service statistics. Table 5.10.—Inventories and Final Sales of Business by Industry Table 5.11.—Inventories and Final Sales of Business by Industry in Constant Dollars [Billions of dollars] [Billions of 1982 dollars] Seasonally adjusted quarterly totals Seasonally adjusted quarterly totals 1990 II Inventories1 Farm Nonfarm Durable goods Nondurable goods Manufacturing .. Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Nonmerchant wholesalers .. Durable goods ... Nondurable goods Retail trade Durable goods Other Nondurable goods .......... ..... . , ;• ............ . ...>.... .„ .. IV 1 II „...„. . Other Final sales 2 Final sales or goods and structures2 129.6 132.5 132.1 127.6 27.2 27.1 15.4 15 5 11.7 11.7 229.4 230.0 108.8 109.0 51 1 51 8 57.7 57.2 120.7 120.9 127.6 127.0 3833 2163 387.5 218.0 390.2 217.9 391.1 215.7 396.1 217.2 28.0 164 11.6 30.2 163 13.9 234.5 1156 57 2 58.5 118.9 237.0 116.9 58.5 58.4 120.1 29.1 16.1 13.0 235.4 113.8 55.7 58.0 121.6 27.3 15.8 11.5 228.3 107.5 504 57.1 120.8 398 2 2172 2 74 2.53 4.49 2.76 2.56 4.55 2.72 2.52 4.52 267 2.47 4.48 2 62 2.42 4.41 2 59 2.40 4.40 1. Inventories are as of the end of the quarter. The quaner-to-quarter change in inventories calculated from current-dollar inventories in this 90bIe is not the current- dollar change in business inventories (CB1) component of GNP. The former is the difference between two inventory stocks, each valued at their respective end-ofquartcr prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition, changes calculated from this 90ble are at quarterly rates, whereas CBI is stated ai annual rates. 2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households d institutions, government, and rest of the world, and includes a small amount of final sales by farms. and Inventories1 Farm Nonfarm Durable goods Nondurable goods Manufacturing Durable goods Nondurable goods Wholesale trade Durable goods Nondurable goods Merchant wholesalers Durable goods Nondurable goods Nonmerchant wholesalers Durable goods , Nondurable goods Retail trade Durable eoods *ym uwiw j w w 911.0 70.0 841.0 478.2 362.8 333.4 217.9 115.5 , , 194.9 123.6 71.4 „.. >•" . ........... Automotive Other Nondurable goods Other Final sales 2 Final sales of goods and structures3 70.0 842.2 480.3 361.9 334.3 218.6 115.7 195.3 124.8 70.5 905.9 70.9 8993 891.0 71.3 363.4 821.2 456.0 3653 818.0 453.4 364.6 329.4 213.7 326.2 209.7 207.4 125.0 125.7 71.2 121.5 121.7 59.1 59.7 108.3 60.0 25.8 13.7 12.0 25.0 13.6 11.5 25.3 13.1 12.2 24.9 13.2 11.7 1863 89.9 41.7 48.3 96.5 186.2 90.0 41.9 48.2 96.2 186.4 90.0 42.1 47.9 96.4 473.3 329.7 26.2 14.1 12.1 168.9 110.8 58.1 26.4 14.0 12.4 194.8 97.8 47.9 49.9 97.0 195.0 98.4 48.7 49.7 96.6 192.7 95.3 46.1 49.2 97.4 117.9 298.1 182.8 117.6 116.6 298.8 183.2 3.06 2.82 4.60 3.05 2.82 4.60 168.7 109.5 59.3 „ 912.1 168.6 108.5 115.3 115.2 114.8 2963 2973 1792 179.2 3.03 2.79 4.61 3.00 2.76 4.58 4.57 Ratio of inventories to final sales Ratio or inventories to final sales Inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures 1991 1990 in 1,0493 1,070.1 1,061.1 1,046.2 1,038.1 1,030.1 79.4 80.8 76.1 79.1 75 1 77.3 970.2 992.8 985.0 966.8 957.3 955.0 562.0 567.6 559.9 549.4 541.7 538.9 408.2 425.2 425.1 417.4 415.6 416.1 377.8 390.2 383.5 377.5 371.5 368.5 252.5 255.3 251.6 248.5 244.0 241.4 125.4 134.8 131.9 128.9 127.6 127.2 228.2 233.2 234.0 233.4 228.7 229 5 147.1 149.2 150.0 151.0 146.7 147.1 82.4 84.1 82.4 82.0 84.0 81.1 200.2 203.0 205.0 206.1 201.5 2024 1307 132.9 133.9 135.2 131.2 131 6 70.3 71.0 70.1 71.1 70.7 69.5 ... Durable goods ......... ...... Nondurable goods in 1991 Inventories to final sales Nonfarm inventories to final sales Nonfarm inventories to final sales of goods and structures 3.03 2.79 4.56 1. Inventories are as of the end of the quarter. Quaner-to-quancT changes calculated from this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates. 2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions, government, and rest of the world, and includes a small amount of final sales by farms. 13 SURVEY OF CURRENT BUSINESS October 1991 Table 5.12.—Fixed Investment by Type Table 5.13.—Fixed Investment by Type in Constant Dollars [Billions of dollars] [Billions of 1982 dollars] Seasonally adjusted at annual rates Seasonally adjusted at annual rates 1990 Fixed investment Nonresidential Structures Nonresidential buildings, excluding farm Public utilities Mining exploration, shafts, and wells Other 742.9 511.9 146.2 746.1 524.1 147.0 104.3 25.7 103.5 25.8 11.1 5.1 ZZZ Producers' durable equipment . Information processing and related equipment Industrial equipment Transportation and related equipment .. Other .......". Residential „ Single-family structures Multifamily structures Other 11.7 6.1 1989 1991 1990 IV 745.6 750.7 694.1 516.5 532.8 149.8 729.2 524.0 142.1 139.5 134.9 7023 498.8 125.4 106.1 25.9 98.3 25.9 95.6 26.1 90.9 26.2 81.2 26.3 11.5 6.2 383.0 12.0 6.0 11.9 5.9 364,1 11.5 6.4 11.3 6.6 366.2 373.4 119.1 91.3 122.8 92.6 120.8 121.1 84.5 124.5 82.3 84.0 82.4 80.4 74.5 190.5 87.6 17.7 85.2 86.3 74.4 93.5 73.1 15.7 88.2 101.6 14.0 87.9 10.9 5.9 116.0 93.1 120.2 76.2 80.4 83.2 81.2 79.4 80.7 231.0 116.7 23.3 90.9 20.1 90.9 115.1 20.9 93.1 107.4 19.6 90.9 205.2 99.1 19.1 87.0 694.0 503.6 Fixed investment Nonresidential Structures Nonresidential buildings, excluding farm Public utilities Mining exploration, shafts, and wells Producers' durable equipment .... Information processing and related equipment ....... Industrial equipment Transportation and related equipment Table 6.3B.—National Income Without Capital Consumption Adjustment by Industry National income without capital consumption adjustment Domestic industries Private industries Agriculture, forestry, and fisheries Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities . Transportation Communication Electric, gas, and sanitary services Rest of the world' 90.2 92.0 261.7 377.1 647.5 963.4 III 120.9 109.5 6663 506.5 10L8 81.2 21.3 78.6 20.6 79.7 20.7 80.2 20.7 74.1 20.5 71.9 20.5 68.1 20.5 60.6 20.5 15.7 4.1 383.7 16.9 4.8 394.6 15.8 4.7 387.5 16.5 5.0 397.0 17.0 4.8 403.1 16.6 4.7 383.1 15.9 5.0 389.0 15.5 5.1 404.7 179.0 •191.3 71.4 74.9 188.1 70,6 187.9 70.3 200.9 70.3 196.8 66.0 200.9 63.6 213.7 62.0 67.3 64.6 176JJ 87.6 15.9 73.4 64.4 64.5 182.8 91.1 16.6 75.2 74.5 64.2 67.0 64.9 1633 78.2 15.1 70.0 62.3 58.0 151.8 69.3 14.0 68.5 66.6 57.9 152.4 70.2 12.4 69.8 72.2 56.9 159.7 79.5 11.0 69.3 508.4 173.0 84.2 15.4 73.4 498.5 Table 6.18B.—Corporate Profits by Industry [Billions of dollar] 1989 II 93.3 263.7 377.2 658.5 92.1 266.0 377.3 657.3 652.0 662.0 50.8 93.9 95.4 263.6 266.5 381.3 386.0 651.9 654.6 1,002.5 1,019.5 684.5 Domestic industries Financial ... Nonflnancial , Rest of the world , ....... Corporate profits with inventory valuation adjustment Domestic industries „ "L Manufacturing Durable goods Primary metal industries Fabricated metal products Machinery, except electrical Electric and electronic equipment Motor vehicles and equipment Other _ Nondurable goods Food and kindred products Chemicals and allied products Petroleum and coal products Other „ „ Transportation and public utilities Wholesale and retail trade .............. Other . Rest of the world III IV I II III 3U.6 2983 306.6 300.7 288.9 286.2 284.4 260.7 241.4 257.6 243.1 220.8 218.0 226-5 19.7 21.8 218 24.3 21.7 25.6 27.0 241.0 219.5 235 8 218.8 199.1 192.4 199.5 50.9 56.9 48,9 57.6 68.0 68.2 57.9 „ Financial Federal Reserve banks Other Nonfinancial 1991 1990 1990 1991 1990 91.7 260.4 381.5 643.6 952.5 650.9 Seasonally adjusted at annual rates 4,2285 4,445.8 4,435.4 4,483.2 4,493.8 4,492.2 4,525.2 4,190.9 4,404.1 4,403.8 4,440.4 4,443.0 4,437.4 4,481.6 3,584.9 3,755.7 3,758.8 3,7883 3,781.0 3,758.9 3,797.0 96.0 102.1 102.1 105.4 103.4 104.5 101.0 42.2 41.2 40.4 43.3 48.0 45.8 36.4 225.1 227.7 225.0 215.6 206.2 204.2 225.1 803.8 806.5 819.8 814.7 791.0 773.7 783.6 465.6 461.5 471.5 464.5 430.6 438.5 338.2 345.0 348.4 350.1 343.1 345.1 314.2 328.8 328.3 332.7 331.5 331.8 333.8 136.6 144.0 144.8 145.8 144.7 142.8 143.9 93.5 87.4 92.8 94.6 91.9 95.1 94.6 247.4 360.1 613.8 883.0 648.6 496.8 113.7 692.3 5193 122.4 Corporate profits with inventory valuation and capital consumption adjustments Wholesale trade Retail trade Finance, insurance, and real estate Services Government and government enterprises 682.7 519.4 116.4 I 6912 Seasonally adjusted at annual rates 1990 IV 692.3 515.4 120.9 [Billions of dollars] 1989 n III 693.1 506.1 122.4 63.8 66.1 187.0 93.5 18.7 74.8 Residential Single-family structures Multifamily structures Other 1991 1990 11 III 377.1 1990 „,. ".."". 286.1 2933 29&8 298.7 2903 289.7 235.2 236.4 249.9 241.1 2223 221.4 15.4 18.7 182 21.7 18.8 22.5 20.7 21.5 21.1 22.6 21.7 21.2 1.3 -.8 -2.9 -5.2 -2.8 -2.9 219.8 217.7 231.7 2193 203.4 198.9 96.1 88.8 100.8 91.2 73.1 67.1 37.1 31.1 39.5 30.2 17.2 12.1 2.4 1.4 3.6 6.2 5.4 4.0 2.4 2.0 4.8 6.7 4.9 6.0 5.2 5.8 6.3 6.7 4.7 7.9 4.3 5.9 6.8 6.6 7.4 7.8 -1.9 -7.0 -4.3 -5.4 -11.2 -14.2 13.9 15.6 16.7 14.3 14.1 11.3 59.0 57.7 61.3 60.9 55.8 55.0 14.0 14.2 15.3 15.7 14.8 17.1 21.1 21.3 22.7 22.1 18.6 16.2 8.7 10.5 3.7 4.3 3.7 23.1 17.9 19.6 19.4 13.8 11.1 43.6 38.7 41.4 41.6 41.5 45.9 41.9 44.4 44.6 42.8 39.5 45.9 40.2 42.8 47.4 50.9 56.9 48.9 57.6 68.0 41.9 46.2 43.7 284.1 2263 23.2 20.4 2.8 :::::: 203.0 72.0 16.9 1.4 4.0 5.6 5.0 :::::::::: -11.0 11.9 55.1 18.4 ::::::;:: 18.8 4.8 13.1 43.7 47.6 39.7 57.9 SURVEY OF CURRENT BUSINESS 14 October 1991 Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by Major Type of Product, 1982 Weights [Index numbers, 1982-100] Table 7.1. -Fixed-Weighted Price Indexes for Gross National Product, 1982 Weights [Index numbers, 1982=100] Seasonally adjusted Seasonally adjusted 1989 II IV I II 131.6 138.4 137.1 139.1 141.5 142.6 143.5 144.2 Personal consumption expenditures .. .. ...... ... 114.3 116.8 116.5 116.7 117.4 118.7 119.2 120.2 123.9 132 3 1303 132 8 136.4 136.6 137.1 136.8 141.7 148.4 147.3 149.3 151.1 153.0 154.4 155.7 Gross private domestic investment Fixed investment ..... 115.0 112.6 110 3 114.1 123.3 . Producer' durable equipment Residential Change in business inventories 118.1 1160 112.6 118.2 125.5 117.6 115.5 112.2 117.6 125.2 118.4 116.2 113.0 118.2 126.0 119.2 117.3 113.6 119.7 125.8 120.1 118.5 114.3 121.3 125.7 120.5 118.7 114.7 121.3 126.8 121.0 119.1 115.3 121.5 127.6 ............ Net exports of goods and services Exports Imports (ji*toss m i t i o n ill p r o d u c t •»••**»«**•«**-*.**+*• Final s a l e s •* *+ Government purchases of goods and services ... Federal Nondcfense State and local 114.4 117.4 116.7 117.6 119.0 120.0 120.5 120.4 109.5 113.9 110.0 113.6 120.1 116.4 114.4 114.5 **** m 129.5 135.4 134.6 136.0 137.5 139.3 140.4 141.1 129.3 135.2 134.4 135.8 137.4 139.1 140.1 140.9 119.7 125.5 124.8 125.9 127.5 128.9 129.7 129.8 Final sales Change in business inventories ........ 110.8 114.2 113.9 114.2 115.1 116.4 117.1 118.0 110.9 114.2 113.9 114.3 115.1 116.3 117.0 117.9 126.0 133.6 132.5 134.1 136.3 137.8 138.7 138.3 125.8 133.3 132.2 133.8 136.0 137.5 138.3 H7 9 Nondurable goods Final sales Change in business inventories 143.0 146.6 145.7 147.4 149J 151.5 1518 154.2 117.3 119.5 119.2 119.9 120.2 120.6 121.4 122.1 Structures 122.4 121 8 123.9 136.7 127.3 127.1 127.6 143.3 126.5 126 0 127.6 142.1 127.5 127.2 128.0 144.0 129.2 129.6 128.3 146.3 131.5 131.7 131.2 147.4 131.8 131 7 131.9 148.6 132.5 132 3 133.1 150.2 129.3 129.2 97.8 136.4 135.2 137.1 106.4 142.7 134.4 136.1 100.6 141.9 135.8 137.5 105.5 143.6 137.4 139.2 117.0 145.1 139.1 141.3 109.4 147.1 140.1 143.0 105.2 148.4 140.9 141.7 104.6 149.8 Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers, 1982 We ights [Index numbers, 1982=100] Seasonally adjusted 1989 1990 1991 1990 II NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. II I 119.9 125.8 125.1 126.1 127.7 129.2 130.0 130.1 Goods Durable goods Final sales Chance in business inventories rv ni 130.6 136.5 135.5 137.0 139.0 140.7 141.4 142.7 Addenda: Pin si sslcs Personal consumption expenditures, food Personal consumption expenditures, energy Other personal consumption expenditures •# 1991 1990 II Services .• 1990 m 129.5 135.4 134.6 136.0 137.5 1393 140.4 141.1 Gross national product Durable goods Nondurable goods Services III 1989 1991 1990 1990 UI IV I II UI Less: Exports of goods and services Plus: Imports of goods and services 129.5 135.4 134.6 136.0 137.5 139.3 140.4 141.1 114.4 117.4 116.7 117.6 119.0 120.0 120.5 120.4 109.5 113.9 110.0 113.6 120.1 116.4 114.4 114.5 Equate: Gross domestic purchases! 129.1 135.2 134.1 135.7 137.8 139.1 Gross national product 139.9 140.7 139.7 2 129.0 135.0 133.9 135.5 137.6 138.9 Equals: Final sales to domestic purchasers 1. Purchases in the United States of goods and services wherever produced. 2. Final sales in the United States of goods and services wherever produced. NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 140.4 SURVEY OF CURRENT BUSINESS October 1991 Table 7.4.—Implicit Price Deflators for Gross National Product [Index numbers, 1982-100] Table 7.7.—Implicit Price Deflators for the Relation of Gross National Product, Net National Product, and National Income [Index numbers, 1982=100] Seasonally adjusted 1989 1990 1990 II III 15 Seasonally adjusted 1991 IV I II 1989 III II Gross national product ........ Durable goods Nondurable goods 110.9 112.4 112.1 112.3 112.7 113.0 113.0 1139 122.8 131.0 129.4 131.5 134.9 135.2 135.4 135.3 141.0 147.7 146.6 148.5 150.4 152.1 153.5 154.7 . , . ........ ....... Gross private domestic investment 126J 131.5 131.0 132.2 133.1 134.8 1363 136.9 129.9 136.4 135.2 137.0 139.3 140.5 141.4 142.0 Personal consumption expenditures ........... 107.2 101.2 119.5 95.3 123.5 Fixed investment .... Nonresidential . . ,..,,.. Structures ...... Producers' durable equipment Residential „ Change in business inventories . ......... 107.8 101.7 121.6 95.6 125.5 107 9 101.6 121.8 95.3 125.3 108.4 102.6 122.4 96.5 126.0 106.8 100.9 122.1 94.7 125.7 107.0 101.4 122.7 95.0 125.5 106 6 105 4 100.5 98.5 123.2 123.2 94.1 92.3 126.6 127.4 1991 1990 1990 III IV I 111 II 1263 131.5 131.0 132.2 133.1 134 JJ 13<S3 136.9 Gross national product Less; Capital consumption allowances with capital consumption adjustment Equals: Net national product 109.6 110.8 110.6 110.9 111.0 111.3 111.0 110.8 128.6 134.4 133.9 1353 1363 138.2 140.0 140.8 Less: Indirect business tax and nontax liability plus business transfer payments less subsidies plus current surplus of government enterprises . 132.0 141.8 139.6 145.4 145.6 153.4 154.0 159.2 124.2 129.0 128.6 129.8 130.4 131.9 133.4 Statistical discrepancy 1283 133.7 1333 1343 135.4 136.7 138.6 Equals: National income Net exports of goods and services Imports 105.5 106.5 106 4 106.7 107.8 107.2 107.0 105.8 103.8 105.8 103.0 105.5 110.7 106.3 102.2 101.0 . . ...... Government purchases of goods and services ... Federal National defense Nondefense ... State and local , . ..., 128.5 133.8 132.5 134.0 136.1 137.6 119.4 123.3 122.0 123.0 125.1 127.0 117.5 121.2 120.7 121.1 122.3 123.8 125.8 129.8 125.6 128.9 133.8 137.3 135.1 141.3 140.1 142.0 144.1 145.3 138.1 139.8 126.9 125.6 130.7 146.4 128.2 125.4 136.4 'M8.1 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Table 7.8.—Implicit Price Deflators for Command-Basis Gross National Product [Index numbers, 1982=100] Gross national product 1263 Less: Net exports of goods and services . Exports Imports 105.5 106.5 106.4 106.7 107.8 107.2 107.0 105.8 103.8 105.8 103.0 105.5 110.7 106.3 102.2 101.0 131.0 132.2 133.1 134.8 1363 131.8 Equals: Gross domestic purchases Table 7.5.—Implicit Price Deflators for Gross National Product by Major Type of Product [Index numbers, 1982=100] Gross national product .... Final sales Change in business inventories .. Goods 1263 131.5 131.0 132J 133.1 134.8 1363 136.9 126.3 131.5 131.0 132.2 133.0 134.8 136.1 136.8 113.2 117.2 Nondurable goods Final sales Change in business inventories .... 126.5 133.7 133.3 126.6 133.9 99.9 100.8 101.2 101.3 100.1 99.7 101.0 139.4 146.1 145.2 122.6 124.7 124.6 12S.2 124.9 125.2 126.2 126.8 148.6 152.2 153.5 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Table 7.6.—Implicit Price Deflators for Gross National Product by Sector [Index numbers, 1982=100] 1263 131.5 131.0 132.2 133.1 1263 131.5 131.0 132.2 133.1 134.8 136.9 130.4 133.8 130.9 132.3 133.7 134.2 128.6 131.8 154.7 158.4 110.3 117.5 130.4 131.9 133.8 Business on Nonfarm less housing Housing Statistical discrepancy 124.2 124.4 122.5 145.3 112.4 124.2 Households and institutions Private households Nonprofit institutions 139.3 145.5 144.2 146.3 148.6 150.6 152.3 155.0 116.9 107.4 110.9 109.9 111.7 113.5 157.5 141.5 147.8 146.6 148.6 151.0 153.0 Government . . Federal State and local 141.2 148.7 147.9 149.4 151.0 133.3 139.9 139.8 140.0 140.7 145.1 153.0 151.9 154.0 156.0 155.9 157.4 147.4 148.1 160.0 161.9 133.9 1353 1363 140.8 Z.\ 129.0 129.3 127.1 151.9 116.5 129.0 134.4 Rest of the world 128.6 128.8 126.8 150.6 119.1 128.6 129.8 130.1 127.9 153.6 116.1 129.8 Addendum: Gross domestic business product less housing . 122.3 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. 126.0 1313 130.4 132.0 133.6 134.6 1353 NOTE.—Percent changes from preceding period for selected items in this table are shown in table 8.1. Personal consumption expenditures , 135.5 135.4 136.8 139.1 139.3 139.2 135.0 Structures Gross domestic product Equals: Command-basis gross national product 99.9 101.2 101.4 Services Gross national product 103.8 105.8 103.0 105.5 110.7 106.2 103.8 105.8 103.0 105.5 110.7 106.3 102.2 101.0 Table 7.9.—Fixed-Weighted Price Indexes for Personal Consumption Expenditures by Major Type of Product, 1982 Weights [Index numbers. 1982=1001 118.0 117.8 113.3 117.2 Final sales Change in business inventories .... Durable goods Final sales Change in business inventories ..., 135.8 134.7 Plus: Command-basis net exports of goods and services Command-basis exports Imports Durable goods Other „ Food Clothing and shoes Gasoline and oil Other nondurable goods Fuel oil and coal Other Services Housing Household operation Electricity and gas Transportation Medical care Other 144.2 122.6 118.7 120.1 119.6 119.7 104.9 106.6 106.4 106.7 106.9 107.3 107.4 108.3 123.5 130.3 130.4 130.8 131.7 133.3 Motor vehicles and parts Furniture and household equipment Nondurable goods 141.5 116.8 116.5 116.7 117.4 ....... , 123.9 1323 1303 132.8 129.2 118.5 86.8 135.5 80.4 142.9 136.1 124.2 90.0 143.2 85.5 150.8 137.1 123.6 99.0 145.6 97.7 152.0 137.5 123.8 99.7 146.3 93.7 153.4 139.2 124.0 115.6 150.8 116.1 155.4 141.3 151.8 152.5 153.9 88.9 100.8 158.4 141.7 148.4 1473 1493 155.7 152.1 123.9 115.7 132.3 138.0 163.7 150.7 128.5 126.0 119.1 119.0 122.1 138.2 133.2 140.7 144.9 146.1 166.4 171.9 152.2 153.2 154.9 142.9 122.6 115.7 129.7 131.9 153.4 143.5 150.4 124.9 117.6 132.4 137.7 162.5 149.7 148.9 124.7 117.3 132.3 136.8 161.1 148.9 Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of Goods and Services, 1982 Weights [Index numbers. 1982=100] Exports of goods and services 116.7 119.0 120.4 107.8 112.0 102.3 Merchandise Durable goods Nondurable goods 106.2 107.3 106.8 107.0 108.5 10S.6 107.0 109.3 109.4 110.0 110.9 105.2 104.6 104.3 103.9 106.5 105.5 Services Factor income Other 126.1 132.0 131.0 132.9 134.3 136.5 137.7 138.6 129.5 135.3 136.2 137.1 139.1 140.8 142.3 120.1 126.1 124.5 126.9 129.3 132.0 132.3 133.1 Imports of goods and services .... 1093 113.9 110.0 120.1 114.4 114-5 Merchandise Durable goods Nondurable goods 103.1 106.2 105.5 113.6 108.0 122.5 123.9 120.0 121.0 120.0 85.1 91.3 104.3 104.5 121.9 86.5 Services Factor income Other 129.6 136.4 134.7 137.6 139.5 141.2 128.7 134.4 133.9 135.4 136.3 138.3 130.4 137.9 135.3 142.0 143.5 140.8 SURVEY OF CURRENT BUSINESS 16 October 1991 Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and Imports by Type of Product and by End-Use Category, 1982 Weights Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases of Goods and Services by Type, 1982 Weights [Index numbers. 1982=100] [Index numbers, 1982=100] Seasonally adjusted Seasonally adjusted 1989 1990 II Merchandise exports .... Foods, feeds, and beverages Industrial supplies and materials Durable goods Nondurable goods .. Capital goods, except autos Autos — Consumer goods Durable goods Nondurable goods Other „ Durable goods Nondurable goods .... .. Merchandise imports Foods, feeds, and beverages Industrial supplies and materials, excluding Durable EOOdS ....... ..........................*.< Nondurable goods „ Petroleum and products Capital goods, except autos Autos Consumer goods Durable goods Nondurable goods Other "... Durable goods Nondurable goods HI 1989 1991 1990 IV II I 106.2 1073 106.8 107.0 1083 108.6 108.5 107,8 102.0 96.7 104.0 104.8 104.5 104.0 103.8 105.2 104.7 107.7 120.1 122.5 116.1 119.5 108.6 110.3 121.9 126.8 106.1 107.7 103.8 105.4 108.4 110.1 95.4 106.7 106.0 106.9 109.0 125.1 122.9 112.3 131.2 109.1 106.7 111.5 99.6 102.7 102.8 102.7 107.5 122.5 119.3 111.1 125.8 107.5 105.2 109.9 96.3 104.2 104.8 104.0 107.7 122.6 119.4 110.0 126.7 107.6 105.3 109.9 93.8 108.7 104.5 110.3 108.4 123.0 121.4 110.7 129.8 109.2 106.8 111.5 98.6 103.4 104.3 103.1 109.9 125.8 122.8 114.4 129.5 109.5 107.1 111.9 96.1 101.2 103.9 100.2 110.8 126.5 122.4 114.0 129.0 108.8 106.4 111J2 103.1 106.2 101.7 105.5 113.6 108.0 104.8 1043 105.0 106.8 104.6 108.5 109.4 108.2 112.0 112.0 108.1 107.6 108.6 54.3 116.3 134.7 126.0 121.2 132.8 121.3 121.3 121.3 105.8 103.6 108.1 65.2 119.0 136.1 129.0 123.4 137.1 122.6 122.6 122.6 105.9 103.7 108.0 50.2 118.0 134.2 129.1 123.4 137.1 121.7 121.7 121.7 105.6 103.3 107.9 90.4 121.2 139.0 130.2 124.4 138.4 124.1 124.1 124.1 105.5 104.3 106.7 62.2 119.1 135.4 128.7 122.5 137.6 122.6 122.6 122.6 107.3 103.2 111.4 63.9 122.5 141.4 130.8 125.7 138.0 125.4 125.4 125.4 104.5 101.5 107.4 54.4 121.0 141.4 129.1 123.7 136.8 123.9 123.9 123.9 II HJ 102.9 99.5 106.3 54.8 120.0 141.6 128.9 123.5 136.5 123.8 123.8 123.8 Government purchases of goods and services Federal National defense Durable goods Nondurable goods Services Compensation of employees Civilian ."Z!!!!L'Z«!™«!™"""Z"»"Z Other services Smictures ......................................................... Nondefense Durable goods Nondurable goods Commodity Credit Corporation inventory Services Compensation of employees Other services State and local Durable goods Nondurable goods Services Compensation of employees .*. Structures Table 7.17.—Fixed-Weighted Price Indexes for National Defense Purchases of Goods and Services, 1982 Weights [Index numbers, 1982=100] 1990 1990 II National defense purchases . Durable goods . Military equipment Aircraft... Missiles . Ships „ Vehicles Electronic equipment.. Other Other durable goods . Nondurable goods Petroleum products .. Ammunition Other nondurable goods . Services .... Compensation of employees .... Military Civilian ....„ Other services L Contractual research and development. Installation support * Weapons support2 Personnel support1 Transportation of materiel . Travel of persons Other „ „„ 126.0 110.9 111.4 110.6 112.2 112.4 112.0 106.9 106.1 105.8 115.3 111.8 111.2 131.7 134.4 133.7 94.1 93.9 91.1 111.1 111.7 111.6 115.4 118.2 117.9 105.4 106.8 104.3 III 76.0 87.5 79.2 113.4 107.6 111.1 135.5 95.3 111.9 119.7 108.7 114.8 114.9 108.6 114.4 136.9 137.5 96.3 112.6 120.8 121.5 107.3 108.1 115.2 108.5 114.2 137.0 104.2 80.6 81.4 121.9 63.5 99.9 81.3 102.8 103.4 102.1 101.8 102.7 126.1 124.3 123.9 123.6 121.7 130.7 137.2 136.6 137.6 138.8 142.9 144.0 132.8 139.6 139.6 139.7 140.2 145.8 146.7 131.9 138.7 138.8 138.8 139.0 144.4 145.3 146.2 75.7 59.7 102.3 1017 119.0 122.9 134.6 141.4 126.6 132.6 124.7 128.9 133.2 139.3 122.0 126.2 163.3 178.6 91.4 95.8 110.3 119.1 173.0 94.0 117.5 130.2 135.9 126.9 129.3 140.4 133.6 143.0 128.8 130.2 129.8 130.3 130.3 131.5 141.5 142.6 148.7 149.8 150.4 133.5 136.0 137.1 138.6 139.0 127.8 129.8 131.1 133.0 135.0 143.7 131.0 185.4 109.7 124.1 131.2 185.9 124.2 1. Includes utilities, communications, rental payments, maintenance and repair, and payments to contractors to operate installations. 2. Includes depot maintenance and contractual services for weapons systems. 3. Includes compensation of foreign personnel, consulting, training, and education. 127.1 111.4 87.5 137.2 139.6 138.7 141.4 132.6 133.3 126.0 110.6 79.2 136.6 139.6 138.8 141.2 130.8 131.7 127.2 111.3 85.8 137.6 139.7 138.8 141.5 133.5 134.8 129.6 112.6 104.2 138.8 140.2 139.0 142.6 136.0 135.0 131.7 113.4 91.5 142.9 145.8 144.4 148.7 137.1 136.3 131.7 113.6 80.6 144.0 146.7 145.3 149.8 138.6 136.6 132.3 113.9 81.4 144.6 147.6 146.2 150.4 139.0 138.4 123.9 127.6 104.5 107.7 127.6 128.0 128.3 131.2 131.9 133.1 107.1 108.0 109.3 110.3 110.0 109.6 104.7 130.4 134.5 124.0 119.8 106.9 136.1 140.7 128.9 123.3 107.8 135.6 140.4 128.1 122.7 104.5 110.2 136.5 137.5 140.8 141.8 129.7 130.9 123.7 124.4 103.7 141.7 148.0 132.0 125.2 106.0 106? 142.9 143.8 148.9 149.4 133.5 m.o 125.9 126.6 136.7 1433 142.1 144.0 1463 147.4 148.6 150.2 1204 110.2 151.4 153.1 143.8 124.8 1199 105.5 150.4 152.1 142.9 124.7 1210 110.3 152.3 154.1 144.1 124.9 121.7 117.6 154.4 156.2 146.5 124.9 123.2 110.6 156.6 158.2 149.2 125.5 123.3 107.7 158.4 160.2 150.3 126.4 1174 103.7 143.8 145.3 137.2 123.3 17^7 109.2 160.2 162.1 151,8 127.2 Seasonally adjusted 1363 Military facilities . Other „. 126.5 127.5 129.2 131.5 131.8 1989 143.1 129.1 189.0 102.5 123.0 137.0 139.0 140.7 141.4 142.7 135.5 121.8 110.9 76.0 130 7 132.8 131.9 134.6 126.6 128.9 ni [Dollars] IV 141.2 142.6 125.9 128.1 180.2 189.5 95.8 99.5 118.9 123.6 II I 130.6 1363 1991 112.6 113.4 113.6 113.9 1123 105.2 112.5 135.1 94.8 IV 122.4 1273 Current-dollar cost and profit, per unit of constant*dollar gross domestic product' Capital consumption allowances with capital consumption adjustment Net domestic product Indirect business tax and nontax liability plus business transfer payments less subsidies Domestic income ...... ........... Compensation of employees Corporate profits with inventory valuation and capital consumption adjustments Profits tax liability Profits after tax with inventory valuation and capital consumption adjustments ..... Net interest 1.140 1.178 1991 1990 1990 129.6 131.7 131.7 127.1 m Table 7.18.—Current-Dollar Cost and Profit per Unit of Constant-Dollar Gross Domestic Product of Nonfinancial Corporate Business Seasonally adjusted 1989 1991 1990 1990 II m IV I II 1.175 1.185 1.191 1.208 1.220 .127 .132 .131 .133 •136 .140 .141 1.013 1.046 1.044 1.052 1.055 1.068 1.079 .109 .904 .760 .116 .930 .791 .113 .931 .787 .117 .935 .797 .119 .936 .804 .124 .944 .814 .125 .954 .822 .096 .041 .088 .038 .094 .039 .087 .040 .080 .037 .079 .032 .082 .033 .056 .048 .049 .051 .055 .051 .047 .051 .043 .052 .047 .052 .048 .051 III 1. Equals the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two places to the left. 17 SURVEY OF CURRENT BUSINESS October 1991 Table 8.1.—Percent Change From Preceding Period in Selected Series [Percent] Seasonally adjusted at annual rates Seasonally adjusted at annual rates .990 Gross national product: Cun-ent dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighied price index .. Government purchases of goods and services; Current dollars ..... 1982 dollars Implicit price deflator Chain pnee index Fixed-weighted price index Personal consumption expenditures: Current dollarsl 1982 dollars' Implicit price deflator Chain price index Fixed-weighted price index -1.5 3.5 3.4 3.3 -10.7 -9.5 -1.4 .2 -11.0 -10.8 -12.3 11.7 1.1 1.4 3.5 2.4 2.5 4.3 1.5 0 1.6 1.9 12.6 9.3 3.2 3.2 3.2 Nondurable goods: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index .9 1.0 .5 3.0 2.3 .6 1.4 1.5 2.6 2.9 -.3 -.4 -.8 Services: Current dollars' 1982 dollars * '. ".'". Implicit price deflator Chain price index Fixed-weighted price index 6.9 2.1 4.6 4.8 5.1 7.7 3.9 3.7 3.8 35 6.1 2.7 3.2 3.3 3.5 ..... Gross private domestic investment: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index 2.8 -11.0 -6.4 ..• -19.0 -9.0 5.4 1.6 r Producers* durable equipment: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed'weighted price index .8 2.4 3.2 4.9 9.8 -4.4 .3 1.5 -14.' -16.3 2.0 3.4 4.3 -1.8 6.6 -7.7 -.6 1.2 -17.9 -18.5 -5.2 -3.3 -2. 15.7 10.2 5. -12, -25.3 -14. -25.3 0 2.0 1.6 2.0 2.0 1.5 2.1 25 l.i -7.: - 1 . -17.4 6.3 -18.4 -7.3 l.: 3.S 3.! 5.4 Imports of goods and services: Current dollars' 1982 dollars1 ~ Implicit price deflator Chain price index Fixed-weighted price index . 13.11.1 2.: 2.: 2." 2.: 2.3 2.4 -1.0 -5.1 4.2 6. 1.3 3.2 3. -6.3 -7.0 8.1 17.1 -7.4 -1.5 .7 1.9 39.1 67.4 -16.8 3.3 3.5 -17.7 -30.7 -10.0 -17.9 3.3 2.4 State and local: Current dollars 1982 dollars Implicit price deflator Chain pnee index Fixed-weighted price index 18.6 2.9 3.7 4.1 -.3 4.7 4.4 4.5 Final sales: 1982 dollars Chain price index Fixed-weighted price index 4.4 2.1 2.2 .6 2.0 2.1 „ Final sales to domestic purchasers: 1982 dollars Chain price index .......«»..„„.., Fixed-weighted price index Command-basis gross national product: 1982 dollars Implicit price deflator .«....„.. 1982 dollars . Implicit price deflator . Business: 1982 dollars Implicit price deflator .... Nonfarm: 1982 dollars Implicit price deflator Disposable personal income: Current dollars 1982 dollars 2.5 2.0 2.2 -3.1 2.5 5.0 25 1.8 2.7 1.2 2.9 1.5 4.0 2.0 -4.1 -2.2 3.2 .1 -4.4 -.8 -.3 -22.' -8.! -15. -8. -11.1 7.4 12.9 -4.6 -1.0 .2 3 -3.1 2.1 6.3 -3.' 1. Percent changes for 1986 and the first quarter of 1986 reflect discontinuities in the series. NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted averages of the detailed prices used in the deflation of CNP, are measures of price change. In calculating changes in these indexes, the composition of GNP is held constant. Consequently these changes reflect only changes in prices. The fixed*weighted price index measures price change over any period, using as weights the composition of GNP in 1982. The chain price index measures price change between two consecutive periods, using as weights Nortdefense: Current dollars 1982 dollars Implicit price deflator Chain pnee index Fixed-weighted price index .... 23.9 20.6 2.6 2.6 2.6 -18.2 -19.3 3.5 3.6 3.6 Exports of goods and services: Current dollars • 1982 dollars' Implicit price deflator Chain price index Fixed-weighted price index . -8.3 -7.9 -.6 .2 Current dollars «... 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index .... Gross domestic product: Structures: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index Residential: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index National defense: Gross domestic purchases: 1982 dollars Chain price index Fixed-weighted price index Fixed investment: Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index Nonresidentiah Current dollars 1982 dollars Implicit price deflator Chain price index Fixed-weighted price index 11.0 •14.3 4.2 1.0 2.4 Addenda: -20.2 -3.9 -2.0 -6.6 5.0 3.0 3.6 Federal: Current dollars ....... 1982 dollars Implicit price deflator Chain pnee index Fixed-weighted price index 3.9 .2 3.6 3.4 3.1 Durable goods: Current dollars 1982 dollars Implicit price deflator Chain price index , Fixed-weighted price index 1991 1990 1991 1990 the composition of GNP in the first period. The implicit price deflator is a byproduct of the deflation of GNP. It is derived as the ratio of current- to constant-dollar GNP (multiplied by 100). It it the average of the detailed prices used in the deflation of GNP, but the prices are weighted by the composition of GNP in each period. Consequently, the implicit price deflator reflects not only changes in prices but also changes in the composition of GNP, and its use as a measure of price change should be avoided. SURVEY OF CURRENT BUSINESS 18 October 1991 NIPA Charts REAL GNP AND ITS COMPONENTS: TRENDS AND CYCLES Jan. July July Nov. P T P T Dec. Nov. P T Billion 1982 $; seasonally adjusted annual rates Personal consumption expenditure ! Nondurable goods Gross f rivate domestic investment Chanae in business inventories Net exports of goods and services- Government purchas as of goods and services— 1964 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 87 88 89 90 91 1992 19 SURVEY OF CURRENT BUSINESS )ctober 1991 SELECTED SERIES: RECENT QUARTERS Percent C h a n g e 10 • Percent Change 10 REAL GNP1 I GNP PRICE INDEX (FIXED WEIGHTS)1 WM REAL GROSS DOMESTIC PRODUCT1 ! GROSS DOMESTIC PURCHASES PRICE INDEX (FIXED WEIGHTS)1 Illilii in I -5 -10 1988 1989 1990 1988 1991 Percent Change 10 1989 1990 ti 1991 Billion $ 500 I REAL GROSS DOMESTIC PURCHASES1 I CORPORATE PROFITS WITH IVA AND CCAdj2 I CORPORATE PROFITS BEFORE TAX2 REAL FINAL SALES TO DOMESTIC PURCHASERS1 400 JLI i -5 300 200 -10 1988 1989 1990 1991 100 1988 1989 1990 1991 1988 1989 1990 1991 Percent Change REAL DISPOSABLE PERSONAL INCOME1 1988 1989 1990 1991 1. Percent change at annual rate from preceding quarter; based on seasonally adjusted estimates. 2. Seasonally adjusted annual rate; IVA is inventory valuation adjustment, and CCAdj is capital consumption adjustment. 3. Personal saving as percentage of disposable personal income, based on seasonally adjusted estimates. U.S. Department of Commerce, Bureau of Economic Analysis By ROBERT P. PARKER A Preview of the Comprehensive Revision of the National Income and Product Accounts: New and Redesigned Tables IN December, the Bureau of Economic Analysis (BEA) will release the results of a comprehensive—that is, benchmark—revision of the national income and product accounts (NIPA's). This revision is the ninth of its kind; the last such revision was released in December 1985. Comprehensive revisions differ from annual NIPA revisions because of the scope of the changes incorporated and because of the number of years subject to revision. Comprehensive revisions incorporate three kinds of changes: Definitional and classificational changes, statistical changes, and new and redesigned tables. Definitional and classificational changes update the accounts to reflect the evolving U.S. economy; they are usually made in a comprehensive revision so that the estimates can be revised back to produce consistent time series. In the upcoming comprehensive revision, the definitional and classificational changes will mainly represent efforts to deal with the effects of the changing nature of government programs, the increasing importance of international transactions, and the nature of business incomes and expenses as they affect current production. Statistical changes update the estimates to reflect the incorporation of newly available and revised data from regularly used sources and new methodologies—that is, new source data and new estimating procedures. In the upcoming revision, data will be incorporated from sources such as the 1982 benchmark input-output tables, the 1987 Economic Censuses, and several annual surveys for 1989 and 1990; several new methodologies will be introduced to cope with difficult measurement problems and to reflect changes in the availability and quality of source data. In addition, the base period for the calculation of constantdollar estimates and of the associated NOTE.—Virginia Mannering and Heather Quick provided assistance in compiling the table changes; Getty Mumford provided secretarial assistance. 20 price indexes will be shiftedfrom1982 to 1987, and the industry distributions of GNP and its components for 1987 forward will be shifted from the 1972 to the 1987 Standard Industrial Classification. New and redesigned tables update the presentation of the NIPA's to reflect the definitional, classificational, and statistical changes and to make the tables more informative. In the upcoming revision, the most important changes will entail a focus on gross domestic product (GDP), the appropriate measure of U.S. production for many types of analysis, and the presentation of alternatives to the standard constant-dollar measures and related fixed-weighted price indexes. This article describes the new and redesigned tables that will update the presentation of the NIPA's. An article in last month's SURVEY OF CURRENT BUSINESS described the definitional and classificational changes that will be incorporated in the revision.1 Subsequent articles will discuss statistical changes and other aspects of the revision. Table 1 provides a complete list of the revised set of NIPA tables arranged according to the new table numbers. The table cross-references the new table numbers with the old ones, identifies the new tables, and shows, at the end of the list, the presently published 1. See Robert P. Parker, "A Preview of the Comprehensive Revision of the National Income and Product Accounts: Definitional and Classificational Changes," SURVEY OF CURRENT BUSINESS 71 (September tables that will be deleted. The last column in table 1 identifies the major changes to each table. These changes resultfromthe focus on GDP, the introduction of alternatives to the standard constant-dollar measures and related price indexes, the definitional and classificational changes, and the incorporation of the 1987 Standard Industrial Classification (SIC). The focus on GDP As announced in the August 1991 SURVEY, GDP will replace GNP as the featured aggregate in most NIPA tables, with the components of these tables adjusted accordingly.2 The focus on GDP will affect the five summary accounts of the NIPA's, as shown in table 2.3 The effects on the first of these accounts, the national income and product—or production—account are the following. • GDP replaces GNP as the sum of expenditures (the product side of the account) and of incomes (the income side of the account). • On the product side, net exports of goods and services is redefined to exclude net receipts of factor income from the rest of the world. (This change also affects account 4, the foreign transactions account.) • On the income side, net receipts of factor income is added as a negative entry to convert GNP to GDP. 1991): 23-31. Availability of Redesigned Tables The information provided in this article describes the major effects of the redesign of the NIPA tables in the upcoming benchmark revision. To obtain a complete set of the redesigned tables in hard copy or machine-readable form (magnetic tape or diskette), write to National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230, or call (202) 523-0669. Table 1 identifies the NIPA tables in which GDP will replace GNP as the production aggregate and the components affected by the replacement. Two of the most important changes relate to net exports of goods and services and to final sales. As previously noted, net ex2. For a discussion of the differences between GNP and GDP, see "Gross Domestic Product as a Measure of U.S. Production," SURVEY 71 (August 1991): 8. 3. For a discussion of the present accounts, see Allan H. Young and Helen Stone Tice, "An Introduction to National Economic Accounting," SURVEY 65 (March 1985): 69-70. October 1991 ports of goods and services is redefined to exclude net receipts of factor incomes. (Exports is redefined to exclude receipts of factor income, and imports is redefined to exclude payments of factor income.) Final sales is now defined as the final sales of national product, or GNP less change in business inventories; it will be replaced by final sales of domestic product, or GDP less change in business inventories. Alternative measures of constant-dollar estimates and related price indexes Definitional and classificational changes estimates for 1987 will be shown on the Many of the NIPA tables will be revised and some new ones added as a result of the definitional and classificational changes that will be incorporated in the upcoming revision. For example, the change that redefines government sales and personal nontaxes results in the deletion of the reclassified nontaxes from the table that shows personal nontaxes (table 3.4), the addition of this detail to a new table that shows government sales (table 3.9), and changes in the presentation of certain components of personal consumption expenditures (tables 2.4— 2.7). Some of the definitional and classificational changes will not affect the structure of the NIPA tables. An example is the change that recognized personal injury trusts, which will affect only the estimates for existing components. The effects of several definitional and classificational changes are also evident in the revised summary accounts shown in table 2. On the income side of the national income and product account, recording nonresident taxes as transfers results in a new type of business transfer payment—payments to the rest of the world (line 19). In the personal income and outlay account, "interest paid by persons" replaces "interest paid by consumers to business" to reflect the recognition of interest paid by persons to government (lines 4 and 17). In the foreign transactions account, the reclassification of interest paid by the Federal Government to foreigners results in the deletion of the line "interest paid by government to foreigners" in the present accounts; this interest will be included in the new line on payments of factor income (line 4). Another important feature of the upcoming revision will be the introduction of quantity and price indexes that represent alternatives to the standard constant-dollar measures and related fixed-weighted price indexes. BEA has selected as alternatives two types of indexes, both of which are based on the Fisher ideal index formula and were among the alternatives discussed in an April 1989 SURVEY article.4 One of the alternatives is a chain-type index that will use as weights the composition of output for the preceding and current years. The other alternative index will use as weights the composition of output for benchmark years. An article in the January 1992 SURVEY will describe the alternative measures in more detail and provide estimates for 1959 to the third quarter of 1991; estimates for the fourth quarter will be provided in the February SURVEY. In the redesigned tables, the alternative quantity and price indexes will be presented using the format shown below. This format also includes, for the first time in the NIPA tables, the presentation of the current- and constantdollar measures as indexes (on a base of 1987=100) to facilitate comparisons with the alternative measures. Alternative quantity and price indexes will be shown for GDP and its major expenditure components (table 7.1), for measures of final sales and purchases Incorporation of the 1987 SIC (table 7.2), and for GNP (table 7.3). In the upcoming revision, the industry distributions of GDP, national NIPA series name: Current dollars income, and their components will be Quantity indexes: shifted, beginning with estimates for Fixed 1987 weights 1987, from the 1972 SIC to the 1987 Alternative indexes: SIC because most of the NIPA source Chain-type annual weights Benchmark-years weights data has shifted to the 1987 SIC. EsPrice indexes: timates for earlier years, which are Fixed 1987 weights now based on either the 1942 or 1972 Alternative indexes: SIC, will not be shifted because of a Chain-type annual weights lack of adequate source data. Because Benchmark-years weights Implicit price deflator the 1987 SIC created significant discontinuities at the level of industry detail used in the NIPA's, primarily in 4. See Allan H. Young, "Alternative Measures of Real manufacturing and finance industries, GNP," SURVEY 69 (April 1989): 27^34. 21 SURVEY OF CURRENT BUSINESS basis5 of both the 1972 and the 1987 SIC. In addition, the incorporation of the 1987 SIC resulted in changes in the names of several industries. The industry distributions in most of the redesigned NIPA tables will be presented as follows: Estimates for 1929 to 1948, based on the 1942 SIC, will be shown in tables designated as part A; estimates for 1948 to 1987, based on the 1972 SIC, will be shown as part B; and estimates for 1987 forward, based on 6the 1987 SIC, will be shown as part C. Some series do not go back to 1929; tables presenting these series will have only a part A, based on the 1972 SIC, and a part B, based on the 1987 SIC. Footnotes to these tables have been added to clarify the A, B, and C designations for each table. Series names The names of several NIPA series will be changed. Because these changes affect many tables, they are not mentioned in table 1; instead, the new and old names for these series are listed below: New series name Old series name Consumption of fixed capital Capital consumption allowances with capital consumption adjustment Government purchases Government purchases of goods and services Gross national income Charges against gross national product Government Government and government enterprises General government Government In addition, the term "foreigners** has been replaced by arest of the world** or "nonresidents** in the names of many NIPA series. For example, "transfer payments to the rest of the world" replaces "transfer payments to foreigners (net)." Tables 1 and 2 follow. 5. For a detailed presentation of the 1987 SIC revisions, see Standard Industrial Classification Manual, 1987, Executive Office of the President, Office of Management and Budget (Washington, DC: U.S. Government Printing Office, 1988). 6. Tables 5.10 to 5.13 show inventory estimates by SIC industry division beginning in 1946. Because the differences in the 1972 SIC and 1987 SIC are minor at the industry division level, the estimates for 1987 forward will be based only on the 1987 SIC. 22 SURVEY OF CURRENT BUSINESS October 1991 Table 1.—Revised NIPA Tables Table number ! New Comments 3 Table title 2 Old 1. Product and Income 1.1 Gross Domestic Product (A, 1929; Q, 1946) 1.2 13 Gross Domestic Product in Constant Dollars (A, 1929; Q, 1947) Gross Domestic Product by Major Type of Product (A, 1929; Q, 1946) 1.4 Gross Domestic Product by Major Type of Product in Constant Dollars (A, 1929; Q, 1947). Relation of Gross Domestic Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers (A, 1929; Q, 1946). 1.5 1.6 1.7 1.8 1.9 1.10 1.11 1.12 1.13 1.14 1.15 1.16 Relation of Gross Domestic Product, Gross Domestic Purchases, and Final Sales to Domestic Purchasers in Constant Dollars (At 1929; Q, 1947). Gross Domestic Product by Sector (A, 1929; Q, 1946) Gross Domestic Product by Sector in Constant Dollars (A, 1929; Q, 1947). Relation of Gross Domestic Product, Gross National Product, Net National Product, National Income, and Personal Income (A, 1929; Q, 1946). Relation of Gross Domestic Product, Gross National Product, Net National Product, and National Income in Constant Dollars (A, 1929; Q, 1947). Command-Basis Gross National Product in Constant Dollars (A, 1929; Q, 1947). Net Domestic Product and Domestic Income by Sector (A, 1929) Net Domestic Product and Domestic Income by Sector in Constant Dollars (A, 1929). National Income by Type of Income (A, 1929; Q, 1946) National Income by Sector, Legal Form of Organization, and Type of Income (A, 1929). Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial Corporate Business in Current and Constant Dollars (A, 1929; Q, 1946). GDP replaces GNP. Net exports, exports, and imports of goods and services redefined to exclude receipts of factor income from the rest of the world and/or payments of factor income to the rest of the world. Same as table 1.1. GDP replaces GNP. Final sales of domestic product replaces final sales. Services redefined to exclude net receipts of factor income from the rest of world. Same as table 1.3. GDP replaces GNP. Gross domestic purchases and final sales to domestic purchasers redefined to exclude net receipts of factor income from the rest of the world. Same as table 1.5. GDP replaces GNP. Rest-of-the-world product (net receipts of factor income from the rest of the world) deleted. Same as table 1.7. GDP, receipts of factor income from the rest of the world, payments of factor income to the rest of the world, gross national income, net domestic product, and domestic income added. In GNP, business transfer payments redefined to include payments to rest-of-the-wodd and in personal income, business transfer payments to persons is a new title; both changes reflect recording of nonresident taxes as transfers. GDP, receipts of factor income from the rest of the world, and payments of factor income to the rest of the world added. None. Net domestic product and domestic income replace net national product and national income. Rest-of-the-world net product and income (net receipts of factor income from the rest of the world) deleted. Same as table 1.12. None. Domestic income by type added in addenda. None. 2. Personal Income and Outlays Personal Income and Its Disposition (A, 1929; Q, 1946) Personal Consumption Expenditures by Major Type of Product (A, 1946; Q, 1946). Personal Consumption Expenditures by Major Type of Product in Constant Dollars (A, 1947; Q, 1947). Personal Consumption Expenditures by Type of Expenditure (A, 1929) Personal Consumption Expenditures by Type of Expenditure in Constant Dollars (A, 1929). Personal Consumption Expenditures by Type of Product (A, 1929) ... Personal Consumption Expenditures by Type of Product in Constant Dollars (A, 1929). Personal Income by Type of Income (A, 1959; M, 1959) Personal Income and Its Disposition (A, 1959; M, 1959) Personal Consumption Expenditures by Major Type of Product (A, 1959; M, 1959). Personal Consumption Expenditures by Major Type of Product in Constant Dollars (A, 1959; M, 1959). Interest paid by persons redefined to reflect recognition of interest paid by persons to government. None. None. Detail for hospitals by type of provider—nonprofit, proprietary, and government —added to reflect redefinition of government sales and personal nontaxes. Expenditures at nursing homes added. Expenditures for local mass transit consolidates local transit systems and railway (commutation). New table provides constant-dollar type-of-expenditures detail shown in table 2.4. New table provides current-dollar type-of-product detail shown in table Detail for other nondurable goods, user-operated transportation, other personal business, and net foreign travel added. Estimates for 1946-58 available on request. None. None. None. October 1991 23 SURVEY OF CURRENT BUSINESS Table 1*—Revised NIPA Tables—Continued Table number l New Table title 2 Comments 3 Old 3. Government Receipts and Expenditures 3.1 3.2 3.3 3.4 Government Receipts and Expenditures (A, 1929) Federal Government Receipts and Expenditures (A, 1929; Q, 1946) State and Local Government Receipts and Expenditures (A, 1929; Q, 1946). Personal Tax and Nontax Receipts (A, 1929) 3.5 Indirect Business Tax and Nontax Accruals (A, 1929) 3.6 Contributions for Social Insurance (A, 1929) 3.7A 3.7B 3.8A 3.8B 3.9 3.10 3.11 3.12 3.13 3.14 3.15 3.16 3.17A 3.17B 3.18 3.19 Government Government Government 1947-72). Government 1972). Government Purchases by Type (A, 1929-71; Q, 1947-71) Purchases by Type (A, 1972; Q, 1972) Purchases by Type in Constant Dollars (A, 1929-71; Q, None. None. None. Nontax receipts from educational and medical charges deleted to reflect redefinition of government sales and personal nontaxes. Detail for nontax receipts for royalties and for deposit insurance premiums added; the insurance premiums reflect classification of several deposit insurance agencies as general government. Contributions to the PBGC added to reflect its classification as general government. Estimates for CCC inventory change added beginning in 1947. None. Same as table 3.7A. Purchases by Type in Constant Dollars (A, 1972; Q, None. Purchases Gross and Net of Sales by Type (A, 1929-71) .. New table provides purchases gross and net of sales. Detail on State and local government shows educational and medical charges to reflect redefinition of government sales and personal taxes. Same as table 3.9A. None. None. Payments by PBGC added to reflect its classification as general government. CCC deleted to reflect its classification as general government. None. None. None. None. Government Purchases Gross and Net of Sales by Type (A, 1972) ... National Defense Purchases (A, 1972; Q, 1972) National Defense Purchases in Constant Dollars (A, 1972; Q, 1972) Government Transfer Payments to Persons (A, 1929) Subsidies Less Current Surplus of Government Enterprises (A, 1960) .. Social Insurance Funds Receipts and Expenditures (A, 1929) Government Expenditures by Function (A, 1952) Federal Government Expenditures by Type and Function (A, 1952) State and Local Government Expenditures by Type and Function (A, 1952). Relation of Federal Government Receipts and Expenditures in the National Income and Product Accounts to the Consolidated Cash, Statement, Fiscal Years (A, 1952-67). Relation of Federal Government Receipt? and Expenditures in the National Income and Product Accounts to the Unified Budget, Fiscal Years (A, 1968). Relation of State and Local Government Receipts and Expenditures in the National Income and Product Accounts to to Bureau of Census Government Finances Data, Fiscal Years (A, 1959). Relation of Commodity Credit Corporation Expenditures in the National Income and Product Accounts to Commodity Credit Corporation Outlays in the Unified Budget (A, 1960). Adjustments and footnotes added to reflect recording of nonresident taxes as transfer payments and classification of deposit agencies as general government. Same as table 3.18A. Estimates for 1958 available on request. Capital gains, net of losses, of retirement systems shown separately beginning in 1985. Enterprise surplus deleted and purchases redefined to reflect classification of CCC as general government. 4. Foreign Transactions Foreign Transactions in the National Income and Product Accounts (A, 1929; Q, 1946). Exports and Imports of Goods and Services and Receipts and Payments of Factor Income in Constant Dollars (A, 1929; Q, 1947). Exports and Imports of Merchandise by End-Use Category (A, 1967; Q 1967). Exports and Imports of Merchandise by End-Use Category in Constant Dollars (A, 1967; Q, 1967). Relation of Foreign Transactions in the National Income and Product Accounts (NIPA's) to the Corresponding Items in the Balance of Payments Accounts (BPA's) (A, 1946). Exports and imports of goods and services redefined to exclude factor income receipts and payments; these receipts and payments shown separately. Business transfer payments to rest of the world added to reflect recording of nonresident taxes as transfer payments. Interest paid by government to foreigners deleted to reflect reclassification of these payments as factor income. Exports and imports of goods and services redefined to exclude factor income receipts and payments; these receipts and payments shown separately. Civilian aircraft and computers shown separately. Same as table 4.3. Adjustment for grossing factor income receipts and payments to include nonresident taxes and adjustment for grossing certain services and interest added to reflect NIPA definitional and classificational revisions. Adjustment for transfer of goods and services under military grant programs added to reflect classification change in the BPA's. Interest paid by government to foreigners deleted as separate line to reflect its NIPA reclassification as a factor income payment. 24 SURVEY OF CURRENT BUSINESS October 1991 Table 1.—Revised NIPA Tables—Continued Table number ] New Comments 3 Table title 2 Old 5. Saving and Investment 5.2 5.1 5.2 5.3 5.3 5.4 5.12 Gross Saving and Investment (A, 1929; Q, 1946) Gross Private Domestic Investment, Consumption and Net Private Domestic Investment by Major (A, 1929). Gross Private Domestic Investment, Consumption and Net Private Domestic Investment by Major in Constant Dollars (A, 1929). Fixed Investment by Type (A, 1946; Q, 1946) 5.5 5.6 5.13 5.4 Fixed Investment by Type in Constant Dollars (A, 1947; Q, 1947) Purchases of Structures by Type (A, 1929) 5.7 5.8 5.9 5.5 5.6 5.7 5.10 5.8 Purchases of Structures by Type in Constant Dollars (A, 1929) Private Purchases of Producers* Durable Equipment by Type (A, 1929) Private Purchases of Producers* Durable Equipment by Type in Constant Dollars (A, 1929). Change in Business Inventories by Industry (A, 1929; Q, 1946) 5.11 5.9 5.12 5.10 5.13 5.11 of Fixed Capital, Type of Investment of Fixed Capital, Type of Investment Change in Business Inventories by Industry in Constant Dollars (A, 1929; Q, 1947). Inventories and Domestic Final Sales of Business by Industry (Q, 1946). Inventories and Domestic Final Sales of Business by Industry in Constant Dollars (Q, 1947). None. Nonfarm and farm residential structures consolidated to reflect loss of source data. Same as table 5.2. Nonresidential buildings redefined to include farm. Computers and peripheral equipment shown separately. Same as table 5.4. Nonfarm and farm residential permanent site structures and additions and alterations and major replacements consolidated to reflect loss of source data. Same as table 5.6. Computers and peripheral equipment shown separately. Same as table 5.8. Footnotes identify redefinition of change in book value and change in SIC. Footnote identifies change in SIC. Same as table 5.11. Same as table 5.11. 6. Income, Employment, and Product by Industry 6.1 6.3 6.3 6.4 6.5 6.6 6.2 6.4 6.5 6.6 6.7 6.8 6.7 6.8 6.9 6.9 6.10 6.11 6.10 6.11 6.12 6.13 6.14 6.12 6.13 6.14 6.15 6.16 6.15 6.16 6.17 6.18 6.17 6.18 6.19 6.20 6.19 6.20 6.21 6.22 6.23 6.21 6.22 6.23 6.24 6.1 6.24 6.2 National Income Without Capital Consumption Adjustment by Industry Quarterly estimates for 1945-47 available on request. (A, 1929; Q, 1948)4. Receipts from and payments to rest of the world shown separately. Compensation of Employees by Industry (A, 1929)5 Same as table 6.2. Wages and Salaries by Industry (A, 1929)5 5 None. Full-Time and Part-Time Employees by Industry (A, 1929) 5 None. Full-Time Equivalent Employees by Industry (A, 1929) None. Wages and Salaries Per Full-Time Equivalent Employee by Industry (A, 1929)5. None. Self-Employed Persons by Industry (A, 1929)5 None. Persons Engaged in Production by Industry (A, 1929)5 Hours Worked by Full-Time and Part-Time Employees by Industry (A, None. 6 1948) . Employer Contributions for Social Insurance by Industry (A, 1948)6 .... None. None. Other Labor Income by Industry and by Type (A, 1948)6 Additional service industries shown separately beginning in 1948. Nonfarm Proprietors' Income by Industry (A, 1929)5 7 Same as table 6.12. Noncorporate Capital Consumption Allowances by Industry (A, 1929) None. Inventory Valuation Adjustment to Nonfarm Incomes by Legal Form of Organization and Industry (A, 1929)7. None. Net Interest by Industry (A, 1929)7 Quarterly estimates for 1946-47 available on request. Corporate Profits by Industry (A, 1929; Q, 1948)7 None. Corporate Profits Before Tax by Industry (A, 1929)5 Federal, State, and Local Corporate Profits Tax Liability by Industry None. 7 (A, 1929) . None. Corporate Profits After Tax by Industry (A, 1929)7 None. Net Corporate Dividend Payments by Industry (A, 1929)7 7 None. Undistributed Corporate Profits by Industry (A, 1929) 7 None. Corporate Capital Consumption Allowances by Industry (A, 1929) 6 GDP replaces GNP. Rest-of-the-world product deleted. Estimates for Gross Domestic Product by Industry (A, 1948) 1947 will not be revised. Gross Domestic Product by Industry in Constant Dollars (A, 1948)6 .... Same as table 6.23. 7. Quantity and Price Indexes Quantity and Price Indexes for Gross Domestic Product (A, 1929; Q, 1947). 7.1 7.1, 7.4 7.2 7.3 Quantity and Price Indexes for Domestic Product, Final Sales, and Purchases (A, 1929; Q, 1947). 7.3 7.8 7.4 7.9 7.5 7.10 7.6 _ Quantity and Price Indexes for Gross National Product and CommandBasis Gross National Product (A, 1929; Q, 1947). Price Indexes for Personal Consumption Expenditures by Major Type of Product, Fixed 1987 Weights (A, 1929; Q, 1947). Price Indexes for Personal Consumption Expenditures by Major Type of Product, Fixed 1987 Weights (A, 1959; Q, 1959). Price Indexes for Fixed Investment by Type, Fixed 1987 Weights (A, 1959; Q, 1959). Current- and constant-dollar indexes and alternative quantity and price indexes added. Fixed-weighted price indexes for PCE detail and final sales deleted. New presentation of quantity and price indexes used. GDP, final sales of domestic product, gross domestic purchases, and final sales of domestic purchasers replace corresponding national measures. New presentation of quantity and price indexes used for GNP. Alternative price indexes for PCE added. Alternative price indexes for PCE added. Same detail added as table 2.7 New table provides fixed-weighted price indexes for detail in table 5.4 and alternative price indexes for fixed investment. 25 SURVEY OF CURRENT BUSINESS October 199J Table 1.—Revised NIPA Tables—Continued Table numberl New Old 7.7 7.12 7.8 7.13 7.9 7.14 7.10 7.15 7.11 7.16 7.12 7.17 7.13 7.7 7.14 7.6 7.15 7.18 Table title 2 Comments3 Price Indexes for Purchases of Structures by Type, Fixed 1987 Weights (A, 1959). Price Indexes for Private Purchases of Producers' Durable Equipment by Type, Fixed 1987 Weights (A, 1959). Price Indexes for Exports and Imports of Goods and Services and for Receipts and Payments of Factor Income, Fixed 1987 Weights (A, 1929; Q, 1947). Price Indexes for Exports and Imports of Merchandise by End-Use Category, Fixed 1987 Weights (A, 1967; Q, 1967). Price Indexes for Government Purchases by Type, Fixed 1987 Weights (A, 1972; Q, 1972). Alternative price indexes for private nonresidential and residential structures added. Same detail deleted as table 5.6. Alternative price indexes for private nonresidential PDE added. Same detail added as table 5.8. Alternative price indexes for exports and imports of goods and services added. Price Indexes for National Defense Purchases, Fixed 1987 Weights (A, 1972; Q, 1972). Implicit Price Deflators for the Relation of Gross Domestic Product, Gross National Product, Net National Product, and National Income (A, 1929; Q, 1947). Implicit Price Deflators for Gross Domestic Product by Sector (A, 1929; Q, 1947). Current-Dollar Cost and Profit Per Unit of Constant-Dollar Gross Domestic Product of Nonfinancial Corporate Business (A, 1948; Q, 1948). Same detail added as table 4.3. Alternative price indexes for total government, Federal national defense, Federal nondefense, and State and local government purchases added. Alternative price indexes for national defense purchases added. None. GDP replaces GNP. Rest-of-the-world product deleted. None. 8. Supplementary Tables 8.1 8.1 Percent Change From Preceding Period in Selected Series (A, 1930; Q, 1947). 8.2 8.2 8.3 8.4 8.5 8.6 8.7 1.17 1.18 1.19 1.20 1.21 Selected Per Capita Product and Income Series in Current and Constant Dollars and Population of the United States (A, 1929; Q, 1947). Auto Output (A, 1947; Q, 1947) Auto Output in Constant Dollars (A, 1947; Q, 1947) Truck Output (A, 1967; Q, 1967) : Truck Output in Constant Dollars (A, 1967; Q, 1967) Farm Sector Output, Gross Product, and National Income (A, 1929) .... 8.8 1.22 8.9 1.23 8.10 1.24 8.11 8.3 8.12 8.4 Farm Sector Output, Gross Product, and National Income in Constant Dollars (A, 1929). Housing Sector Output, Gross Product, and National Income (A, 1929) 8.13 — Housing Sector Output, Gross Product, and National Income in Constant Dollars (A, 1929). Consumption of Fixed Capital by Legal Form of Organization (A, 1929). Capital Consumption Adjustment by Legal Form of Organization and Type of Adjustment (A, 1929). Business Transfer Payments by Type (A, 1929) 8.14 8.5 Supplements to Wages and Salaries by Type (A, 1948) 8.15 8.16 8.17 8.6 8.7 8.8 Rental Income of Persons by Type (A, 1946) Dividends Paid and Received by Sector (A, 1946) Interest Paid and Received by Sector and Legal Form of Organization (A, 1946). 8.18 8.9 Imputations in the National Income and Product Accounts (A, 1929) ... 8.19 8.10 Relation of Consumption of Fixed Capital in the National Income and Product Accounts (NIPA's) to Depreciation and Amortization as Published by the Internal Revenue Service (IRS) (A, 1929). 8.20 8.11 8.21 8.12 Relation of Nonfarm Proprietors' Income in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) (A, 1959). Relation of Net Farm Income in the National Income and Product Accounts (NIPA's) to Net Farm Income as Published by the U.S. Department of Agriculture (USDA) (A, 1967). Changes in alternative quantity and price indexes added. Changes in final sales of domestic purchases and in final sales to domestic purchasers replace corresponding national measures. Changes in GNP included in addenda. Changes in implicit price deflators and chain price indexes deleted. Changes in domestic business and nonfarm product business deleted. GDP added. Quarterly data added. None. None. None. None. Cash receipts retitled to reflect reclassification of CCC commodity loans. Footnote to intermediate purchases deleted to reflect reclassification of bad debt loses. Same as table 8.7. Footnote to intermediate purchases deleted to reflect reclassification of bad debt losses. Same as table 8.9. Detail for rental income of persons added. Detail for rental income of persons added. New table provides breakdown of type of payment; taxes paid by U.S. residents to foreign governments shown separately to reflect their recording as transfers. Employer contributions to PBGC added to pensions to reflect classification of PBGC as general government. None. Breakdown of dividends in national income reorganized by sector. Detail for monetary interest paid by other private business and for net interest paid by domestic business expanded. Derivation of personal interest revised to reflect recognition of interest paid by persons to government. Employer contributions to group health and life insurance are added as specific imputations. Effect of imputation for employees' lodging correctly attributed to PCE housing services Footnotes identify added adjustments for differences in definitions of investment (such as rental video cassettes and clothing), to reflect capitalization of monetary interest on own-account construction by public utilities, and to recognize capital consumption for abandoned nuclear power plants. Adjustment for misreporting on income tax returns shown separately. Adjustment for bad debt expenses replaces defaulter's gain adjustment to reflect reclassification of bad debt losses. Adjustments for differences in methodology in estimates of income from owner-occupied housing and for differences in treatment of patronage dividends added. Adjustment for difference in treatment of CCC loans added to reflect reclassification of these loans in the NIPA's. 26 SURVEY OF CURRENT BUSINESS October 1991 Table 1.—Revised NIPA Tables—Continued Table number l New Old 8.22 8.13 8.23 8.24 8.14 Table title 2 Comments 3 Relation of Corporate Profits, Taxes, and Dividends in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) (A, 1929). For profits before taxes: Adjustment for misreporting on income tax returns shown separately; adjustment for bad debt expense replaces defaulter's gain and bad debt reserve adjustment to reflect ^classification of bad debt losses; footnote added to identify adjustment to reflect removal of capital gains from brokerage charges; and adjustment added for taxes paid to foreign governments to reflect recording of nonresident taxes. New table provides relation of NIPA and IRS interest estimates. Relation of Monetary Interest Paid and Received in the National Income and Product Accounts (NIPA's) to Corresponding Measures as Published by the Internal Revenue Service (IRS) (A, 1929). Comparison of Personal Income in the National Income and Product Accounts (NIPA's) with Adjusted Gross Income as Published by the Internal Revenue Service (IRS) (A, 1947). None. 9. Seasonally Unadjusted Estimates 9.1 9.2 9.3 9.4 9.5 9.6 Gross Domestic Product (QUA, 1946) Personal Consumption Expenditures by Major Type of Product (QUA, 1946). Federal Government Receipts and Expenditures (QUA, 1946) State and Local Government Receipts and Expenditures (QUA, 1946) . Foreign Transactions in the National Income and Product Accounts (QUA, 1946). Corporate Profits With Inventory Valuation Adjustment (QUA, 1946) . GDP replaces GNP, which appears as addendum item. None. None. None. None. None. Deleted Tables Gross National Product Originating in Government, Farm, and AH Other Industries in Current and Constant Dollars (A, 1909-29). Fixed-Weighted Price Indexes for Gross National Product by Major Type of Product (A, 1959; Q t 1959). Implicit Price Deflators for Gross National Product by Major Type of Product (A, 1929; Q t 1959). Implicit Price Deflators for Personal Consumption Expenditures (A, 1959; M, 1959). 1. Tables are listed according to the new numbers. Presently published tables to be deleted are listed at the end of the list. 2. The letters in parentheses indicate the frequency of the estimates; A, annual estimates; Q, seasonally adjusted quarterly estimates; QUA, quarterly estimates not seasonally adjusted; and M, monthly seasonally adjusted estimates. The year(s) associated with each letter indicates the beginning period for the estimates or, when expressed as a range of years, the period covered by the estimates. See footnotes 4-7 for the special presentation of tables in section 6. 3. The base period for the calculation of all constant-dollar estimates and of associated price indexes will be shifted from 1982 to 1987. See text section on alternative measures for information on the new quantity and price indexes. 4. This table will appear in three parts. Part A will cover 1929-45 and will reflect the 1942 SIC; pan B will cover 1946-87 and will reflect the 1972 SIC; and part C will cover 1987 forward and will reflect the 1987 SIC. See text for additional information. Preparation of estimates suspended. Indexes for GNP and for domestic equivalent of final sales shown in tables 7.3 and 7.2. Indexes for types of products available on request. Deflators for GNP and for domestic equivalent of final sales shown in tables 7.3 and 7.2. Deflators for types of products can be calculated from estimates in tables 1.3 and 1.4. Annual deflators shown in table 7.1. Monthly deflators can be calculated from estimates in tables 2.10 and 2.11. 5. This table will appear in three parts. Part A will cover 1929-48 and will reflect the 1942 SIC; pan B will cover 1948-87 and will reflect the 1972 SIC; and pan C will cover 1987 forward and will reflect the 1987 SIC. Sec text for additional information. 6. This table will appear in two pans. Part A will cover 1948-87 and will reflect the 1972 SIC, and part B will cover 1987 forward and will reflect the 1987 SIC. See text for additional information. 7. This table will appear in three pans. Part A will cover 1929*47 and will reflect the 1942 SIC; part B will cover 1948-87 and will reflect the 1972 SIC; and part C will cover 1987 forward and will reflect the 1987 SIC. See text for additional information. CCC Commodity Credit Corporation GDP Gross domestic product GNP Gross national product PBGC Pension Benefit Guaranty Corporation PCE Personal consumption expenditures PDE Producers' durable equipment SIC Standard Industrial Classification SURVEY OF CURRENT BUSINESS October 1991 Table 2.—Summary National Income and Product Accounts Line Account 1.—National Income and Product Account Compensation of employees Wages and salaries Disbursements (2-7) Wage accruals less disbursements (3-8 and 5-4) Supplements to wages and salaries Employer contributions for social insurance (3-15) Other labor income (2-8) 28 29 30 31 Proprietors' income with inventory valuation and capital consumption adjustments (2-9) Rental income of persons with capital consumption adjustments (2-10) Corporate profits with inventory valuation and capital consumption adjustments Profits tax liability (3-13) Profits after tax with inventory valuation and capital consumption adjustments Dividends (2-12) Undistributed profits with inventory valuation and capital consumption adjustments (5-5) Personal consumption expenditures (2-3) Durable goods Nondurable goods Services 32 Gross private domestic investment (5-1) 33 Fixed investment 34 Nonresidential 35 Structures 36 Producers' durable equipment 37 Residential 38 Change in business inventories 39 40 41 Net exports of goods and services Exports (4-1) Imports (4-A) 42 Government purchases (3-1) 43 Federal 44 National defense 45 Nondefense 46 State and local Net interest (2-15) National income Business transfer payments To persons (2-20) To rest of the world (4-9) Indirect business tax and nontax liability (3-14) Less: Subsidies less current surplus of government enterprises (3-7) Consumption of fixed capital (5-6) Gross national income Statistical discrepancy (5-9) Gross national product , y Less: Receipts of factor income from the rest of the world (4—2) Plus: Payments of factor income to the rest of the world (4-5) GROSS DOMESTIC PRODUCT CiROSS DOMESTIC PRODUCT Account 2.—Personal Income and Outlay Account 1 Personal tax and nontax payments (3-12) 7 Wage and salary disbursements (1-3) 2 Personal outlays 8 Other labor income (1-7) 3 4 5 9 Proprietors* income with inventory valuation and capital consumption Personal consumption expenditures (1-28) Interest paid by persons (2-47) Personal transfer payments to rest of the world (net) (4-7) adjustments (1-8) 10 Rental income of persons with capital consumption adjustment (1-9) 6 Personal saving (5-3) 11 Personal dividend income Dividends (1-13) 12 Less: Dividends received by government (3-6) 13 14 Personal interest income 15 Net interest (1-15) Net interest paid by government (3-5) 16 Interest paid by persons (2-4) 17 18 19 20 21 PERSONAL TAXES, OUTLAYS, AND SAVING See note at end of table. Transfer payments to persons From business (1-18) From government (3-3) Less: Personal contributions for social insurance (3-17) PERSONAL INCOME 27 SURVEY OF CURRENT BUSINESS 28 October 1991 Table 2.—Summary National Income and Product Accounts—Continued Line Line Account 3.—Government Receipts and Expenditures Account 1 Purchases (1-42) 12 Personal tax and nontax payments (2-1) 2 Transfer payments 13 Corporate profits tax liability (1—11) J 4 5 i o persons ^z—zu^ To rest of the world (net) (4-8) Net interest paid (2-16) 6 Less: Dividends received by government (2-13) 7 Subsidies less current surplus of government enterprises (1-21) 8 Less: Wage accruals less disbursements (1-4) 9 Surplus or deficit (-), national income and product accounts (5-7) 10 11 14 Indirect business tax and nontax liability (1-20) 15 16 17 Contributions for social insurance Employer (1-6) Personal (2-21) Federal State and local GOVERNMENT EXPENDITURES AND SURPLUS GOVERNMENT RECEIPTS Account 4 .—Foreign Transactions Account 1 Exports of goods and services (1-40) 4 2 Receipts of factor income (1-26) 5 Payments of factor income (1-27) 3 Capital grants received by the United States (net) (5-8) 6 7 S 9 10 RECEIPTS FROM REST OF THE WORLD Imports of goods and services (1-41) Transfer payments to rest of the world (net) From persons (net) (2-5) From government (net) ( 3 ^ ) From business (1-19) Net foreign investment (5-2) PAYMENTS TO REST OF THE WORLD Account 5.—Gross Saving and Investment Account Gross private domestic investment (1-32) Personal saving (2-6) Net foreign investment (4-10) Wage accruals less disbursements Undistributed corporate profits with inventory valuation and capital consumption adjustments (1-14) Consumption of fixed capital (1-22) Government surplus or deficit (-), national income and product accounts (3-9) Capital grants received by the United States (net) (4-3) Statistical discrepancy (1-24) GROSS INVESTMENT GROSS SAVING AND STATISTICAL DISCREPANCY NOTE.—Numbers in parentheses indicate accounts and items of counteremry in the accounts. For example, line 3 of account 1 is shown as "wage and salary disbursements, (2-7)"; the countercntry is shown in account 2, line 7. By JEFFREY H. LOWE and RAYMOND J. MATALONI, JR. U.S. Direct Investment Abroad: 1989 Benchmark Survey Results • European affiliates accounted for JL HIS article presents preliminary estimates on the operations of nonbank the largest share of all affiliates' operU.S. multinational companies (MNC's) ations; they accounted for more than from the BEA 1989 benchmark sur- one-half of the assets and sales and vey of U.S. direct investment abroad for about two-fifths of the employment (USDIA). The 1989 benchmark sur- of all affiliates. Within Europe, affilvey updates universe estimates based iates' operations were largest in the on data from BEA's annual sample United Kingdom. By industry, mansurveys of USDIA for nonbenchmark ufacturing affiliates accounted for the years. Compared with the annual surveys, the benchmark survey gives a more complete view of U.S. MNC oper- Table 1.—Total Assets of and Sales and Employment by Nonbank U.S. MNC's, U.S. Parents, ations in two ways: (1) It collects data and Foreign Affiliates, 1977 and 1982-89 from the USDIA universe rather than MNC's from a sample of companiesfromwhich Affiliates Parents worldwide universe estimates are derived, and (2) it collects a wider range of data items. Total assets The following are highlightsfromthe Millions of dollars: 1977 490,178 2,033,418 1,548,240 1989 survey. 1982 751,486 3,493,105 2,741,619 750,823 3,653,615 2,902,793 1983 • U.S. MNC's had worldwide assets 1984 3,820,025 3.060,031 759,994 3,462,398 4,297,034 834,636 1985 of $6,219 billion and sales of $4,400 bil1986 4,723,294 3.792.001 931.293 5,285,962 4,175,308 1,110,654 1987 lion, and they employed 25.3 million 1988 5,569,767 4,363.441 1,206.326 1989 6,219,410 4,905.415 1,313,995 workers in 1989.1 U.S. parent companies accounted for about three-fourths, Compound annual rate of change (percent): and their foreign affiliates for about 8.6 1977-89 10.1 98 8.9 12.2 11.4 1977-82 one-fourth, of U.S.-MNC worldwide 8.7 8.3 1982-89 86 operations (table 1). Sales • U.S. parents' share of all U.S. Millions of dollars: business was much larger in man- 1977 647,969 2,060.263 t.412,293 1982 935,780 3,284,168 2,348,388 ufacturing than in other industries. 1983 886,314 3,263,802 2,377 488 1984 ....„ 898.558 3,407,337 2,508.779 In manufacturing, U.S. parents ac895.460 1985 3,482,155 2,586.695 1986 928,915 3,473,354 2.544,439 counted for 66 percent of the sales and 1987. 3.742.022 2,689,227 1,052,795 1988. for 55 percent of 2the employment by all 4,022,942 2,828,209 1,194,733 19891 4.399,873 3,133,588 1,266,285 U.S. businesses. In all other indusannual rate of tries combined, U.S. parents accounted Compound change (percent): 1977-39 57 6.9 65 for only one-tenth of all-U.S.-business 1977-82 10.7 9.8 7.6 1982-89 4.4 4.2 43 employment. l Number of employees 1. A U.S. multinational company (MNC) consists of a nonbank U.S. parent and its nonbank foreign affiliates. A U.S. parent is a U.S. person that owns or controls, directly or indirectly, 10 percent or more of the voting securities of an incorporated foreign business enterprise or an equivalent interest in an unincorporated foreign business enterprise. A foreign affiliate is a foreign business enterprise that is so owned or controlled. 2. The data on all-U.S.-business sales are from the Census Bureau's Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations. The data on all-U.S.-business employment are from table 6.6B of the "National Income and Product Accounts Tables" in the July 1990 issue of the SURVEY OP CURRENT BUSINESS. Thousands: 1977 1982 1983 1984 1985 . 1986 1987 . 1988 1989' Compound annual raw of change (percent): 1977-89 1977-82 * 1982-89 26,081.3 25,344.8 24,782.6 24,548.5 24,531.9 24,082.0 24 255 4 24,141.1 25.342.4 -.2 -6 C) 18,884.6 18,704.6 18,399.5 18.130.9 18,112.6 17,831.8 17 985 8 17,737.6 18,721.0 -.1 C) 7,196.7 6,640.2 6,383.1 6,417.5 6,419.3 6.250.2 6,269 6 6,403.5 6.621.4 -.7 -1.6 (*) * Less than .05 percent (±). 1. The 1989 estimates are not strictly comparable wtih the estimates covering 1983-88 because of a break in series resulting from improved coverage of the survey universe in 1989 (sec text for further discussion). MNC Multinational company largest share of all affiliates7 operations; they accounted for more than one-half of the employment and sales and for more than one-third of the assets of all affiliates. • Majority-owned foreign affiliates (MOFA's) accounted for about 80 percent of the operations of3all nonbank foreign affiliates (table 2). • The most common motivation for U.S. direct investment abroad is to sell goods to unaffiliated customers in local markets. Sales of goods by MOFA's to unaffiliated customers in local markets were $672 billion, or about two-thirds of total MOFA sales. • MNC-associated U.S. exports were $241.5 billion, 67 percent of all U.S. merchandise exports; MNC-associated U.S. imports were $192.6 billion, 40 percent of all U.S. merchandise imports.4 • Expenditures for research and development (R&D) performed by U.S. parents were $81.1 billion; these expenditures accounted for 85 percent of industrial R&D performed by all U.S. businesses.5 Expenditures for R&D performed by MOFA's were $8.0 billion. • In most host countries, MOFA's in manufacturing pay their production workers more per hour, on average, than do other manufacturing companies in those countries. • MNC employment declined slightly from 26.1 million in 1977 to 25.3 million in 1989. Underlying slight declines in both parent and affiliate 3. MOFA's are foreign affiliates in which the combined direct and indirect ownership of all U.S. parents exceeds 50 percent. 4. MNC-associated U.S. exports are the sum of goods shipped to foreign affiliates by all U.S. persons and goods shipped to other foreigners by U.S. parents. MNC-associated U.S. imports are the sum of goods shipped by foreign affiliates to all U.S. persons and goods shipped by other foreigners to U.S. parents. 5. This comparison is based on a preliminary estimate for 1989 of research and development expenditures for all U.S. businesses from the National Science Board, Science and Engineering Indicators—1989 (Washington, DC: U.S. Government Printing Office, 1989). 29 SURVEY OF CURRENT BUSINESS 30 employment were offsetting changes in terms of employment for 1977-S9, among industries, and, for affiliates, and discusses selected aspects of MNC among areas. Declines in affiliate em- operations in 1989. Finally, the coverployment were particularly large in age and methodology of the benchmark Europe, Canada, and Africa; increases survey and changes in the presentation were particularly large in Mexico and of results are discussed. In the followin most of the newly industrialized ing analysis, information from outside sources, mainly press reports, is used countries of the Pacific Rim. The estimates presented in this ar- to supplement BEA's survey data. ticle cover the financial structure and the overall operations of nonbank U.S. Changes in MNC operations in 1989 parents and their nonbank foreign afThe 1989 benchmark survey feafiliates. Data collected in the benchmark survey on banks and on transac- tured improvements in the coverage of tions and positions between U.S. par- the MNC universe. (For details on ents and their foreign affiliates will the improved coverage, see the secbe available next fall, when final re- tion "Coverage and Methodology of the sults of the benchmark survey are Benchmark Survey.") These improvements introduce an element of nonpublished.6 This article briefly reviews the comparability between the 1989 estichanges in MNC operations in 1989, mates and the estimates for 1988 (and examines trends in MNC operations for 1983-87) that were based on annual surveys. The noncomparability is 6. The data on the overall operations of U.S. parsmall for aggregate measures of MNC ents and their foreign affiliates include data on balance operations, but comparisons for indisheets; income statements; property, plant, and equipvidual countries or industries should ment; employment and employee compensation; U.S. merchandise trade; sales; technology; taxes; and, for be made with caution. foreign affiliates, external financial position. The data In 1989, three key aggregate meason transactions and positions between U.S. parents and their foreign affiliates are the source of the estimates of ures of U.S. MNC operations—assets, direct investment that are entered into the U.S. internasales, and employment—grew faster tional transactions accounts and the U.S. international investment position. These estimates cover the U.S. di- than they had on average during the rect investment position abroad at book value, direct previous 6 years. Excluding the effects investment capital flows, and net receipts of income, of the improvements in coverage so as royalties and license fees, and charges for other services by U.S. parents from their foreign affiliates. to place the 1989 estimates on a consisTable 2.—Employment by Majority-Owned For. eign Affiliates and Their Share of All Nonbank Foreign Affiliate Employment, by Area, 1989 Number of employees (thousands) Percent accounted for maMinority- by jorityowned owned affiliates affiliates All affiliates Majorityowned affiliates 6,621.4 5,111.4 1410.0 77.2 945.4 889.2 56.2 94.1 2,7083 2.308.0 400.3 85.2 408.9 338.1 70.8 82.7 „ 551.5 186.7 138.8 47.6 8642 491.0 160.9 123.4 40.1 741.6 60.5 25.8 15.4 7.5 122.6 89.0 86.2 88.9 84.2 85.8 Latin America and Other Western Hemisphere .. AH countries Canada . . . . .. Europe . Ofwhich. France Germany, Federal Republic of Italy Netherlands Switzerland United Kingdom ... . . U01.2 964.9 336.3 74.2 Africa 120.4 83.2 37.2 69.1 Middle East 102.0 69.8 32.2 68.4 1.416.2 772.2 644.0 54.5 391.9 388.0 193.7 131.2 198.2 256.8 49.4 33.8 28.0 24.0 4.0 85.7 Asia and Pacific Of which: Australia Japan ........ 1 International Addendum: European Communities (12)1 2,539.7 352.2 2,187.5 86.1 1. "International" affiliates are those that have operations in more than one country and that are engaged in petroleum shipping, other water transportation, or operating movable oil- and gas-drilling equipment. 2. European Communities (12) comprises Belgium, Denmark, France, Germany (Federal Republic of). Greece, Ireland, Italy, Luxembourg, Netherlands, Portugal, Spain, and the United Kingdom. October 1991 tent basis with earlier estimates, MNC assets increased 11 percent in 1989, compared with an 8-percent average annual rate of growth during 198288. MNC sales increased 9 percent, compared with a 3-percent average annual increase, and MNC employment increased 3 percent, compared with a very small decline. (Including the improvements in coverage, MNC assets increased 12 percent in 1989, sales increased 9 percent, and employment increased 5 percent. See tables 16-22 at the end of the article.) Trends in MNC Employment, 1977-89 Of the three key measures of MNC operations that can be used to gauge trends in MNC operations, the change in assets and in sales differed markedly from that in employment from 1977 to 1989. Assets of U.S. MNC's grew at an average annual rate of 10 percent, worldwide sales grew 7 percent, and employment declined slightly. This section focuses on trends in employment because, unlike assets and sales, employment is not directly affected by changes in prices and exchange rates. The discussion covers employment trends from 1977 Acknowledgments BEA thanks the staffs of U.S. companies that responded to the 1989 benchmark survey for their efforts in completing and filing reports and for their cooperation with BEA during processing and review of the data. The publication of the benchmark survey estimates in 17 months was a result of the efforts of the BEA staff listed below. Jack J. Bame, Associate Director for International Economics, succeeded by J. Steven Landefeld, provided general guidance for the survey. Betty L. Barker, Chief, and R. David Belli, Assistant Chief, International Investment Division (IID), directed the design of the benchmark survey report forms, the conduct of the survey, and the analysis and publication of the results. The Direct Investment Abroad Branch (DIAB) of IID, under the direction of Patricia C. Walker, was primarily responsible for conducting the survey. David H. Galler, Chief of the Annual and Benchmark Surveys Section of DIAB, supervised the editing and processing of the reports. He also designed the computer-edit checks and the forms and processing control systems. The following former and current members of DIAB processed and edited the survey: Joan O. Adams, Margaret Buckley, Barbara S. Clark, Margo A. Collier, Emily D. Curry, Marcia S. Francis, David N. Hale, Jeanne Hicks, Lonnie Hunter, Deanna D. Ibarra, Christine J. Lee, Sherry Lee, Stephanie A. Lewis, Leila C. Morrison, Juanita L. Mortimer, John A. Munz, Pearl Rivers, Ronald L. Ross, William R. Shupe, Robert N. Smith, Dwayne Tbrney, and Diann L. Vann. The Research Branch of IID, under the direction of Obie G. Whichard, assisted DIAB in reviewing the results for consistency and accuracy. The reviewers were Jeffrey H. Lowe and Raymond J. Mataloni, Jr. Arnold Gilbert of the Data Retrieval and Analysis Branch (DRAB) of IID also assisted in the review. James T. Spalding, Chief, Programming and Analysis Branch of the Computer Systems and Services Division, coordinated the computer programming and data conversion and processing activities, which were performed by Douglas J. Klear, Elizabeth L. Shumate, Marguerite E. Ellis, Effie M. Eason, and Janice E. Townsend. Marie Gott designed the computer programs for the integrated master file of U.S. direct investment abroad. Arnold Gilbert designed the programs for data estimation, final review of the data, suppression of the data for confidentiality reasons, and generation of the tables for publication. They were under the supervision of Smith W. Allnutt, Chief of DRAB. Raymond J. Mataloni, Jr., prepared the tables for this article. Jeffrey H. Lowe designed the tables in the publication that presents more detailed data from the survey. October 1991 to 1989—both of which are benchmark years, when BEA surveys the entire universe of U.S. parents and foreign affiliates. In addition, considerable use is made of data from 1982, an intervening benchmark year. MNC employment declined from 26.1 million in 1977 to 25.3 million in 1989." Worldwide economic recession in the early 1980's induced companies to bring costs in line with sluggish sales by reducing employment. After 1982, employment continued to decline through 1986 and then recovered to the 1982 level by 1989. A large decline in manufacturing, partly reflecting increases in productivity, more than accounted for the overall decline. In petroleum, a decline resulted from the shedding of laborintensive nonpetroleum-related operations. Partly offsetting these declines were increases in all other major industries, especially in "services."8 U.S. parents U.S. parent companies employed slightly fewer workers in 1989 than they did in 1977—18.7 million, compared with 18.9 million (table 3). Decreases in employment in manufacturing and petroleum were largely offset by increases in other industries, particularly in "services" (chart 4). The small decline in employment by U.S. parents contrasts with a 33percent increase in employment by all U.S. businesses since 1977. The different growth rates partly reflect a difference in industry mix between U.S. parents and all U.S. businesses. "Services," the fastest growing industry in terms of employment, accounted for a much larger share of all-U.S.business employment than of U.S. parent employment in 1989—30 percent, compared with 10 percent. In contrast, employment in manufacturing, one of the slowest growing in- 31 SURVEY OF CURRENT BUSINESS oil prices and parent-company profits fell sharply, which prompted some parent companies to sell their peripheral nonpetroleum businesses and to substantially reduce their technical and managerial personnel. In manufacturing, parent employment fell from 11.8 million in 1977 to 10.1 million in 1989. Increased competition from foreign producers caused many parents to scale back operations and to increase efficiency by reducing technical and managerial staffs and by adopting labor-saving technologies.' The decreases in employment were particularly large in primary metals (from 991,000 to 334,000), in textile products and apparel (from 668,000 to 322,000), and in motor vehicles and equipment (from 1.4 million to 1.0 million). In contrast to the declines in petroleum and manufacturing, parent employment was higher in 1989 in "services," in finance (except banking), insurance, and real estate (FIRE), in transportation, and in wholesale trade. In "services," increases were notable in several consumer-oriented service industries; however, most of the overall increase occurred in "business services not elsewhere classified" (especially in personnel supply services). In FIRE, the most rapid growth occurred between 1977 and 1982 and was centered in insurance. For the remainder of the 1980's, employment in FIRE grew more slowly, as increases in nonbank finance were partly offset by decreases in insurance. In transportation, the increase resulted from the addition of some very large U.S. parents, mainly airlines, to the survey universe. (The addition of these parents' affiliates had a much smaller effect on affiliate employment because the affiliates accounted for only a small CHART 4 fraction of the parents' worldwide operU.S. Parent Employment, ations.) In wholesale trade, increases Percent Distribution by were widespread. dustries in terms of employment, accounted for a much smaller share of all-U.S.-business employment than of U.S. parent employment—21 percent, compared with 57 percent. The decline in parent employment between 1977 and 1989 resulted largely from efforts to trim operations in response to macroeconomic and industry-specific changes. Weakness in domestic economic activity led to a decline in parent employment between 1977 and 1982. During those years, and also through 1989, many parents in petroleum and manufacturing retrenched. In petroleum, the decline in employment was related to falling crude oil prices in the early- to mid-1980's; in manufacturing, it was related to falling market share, which was lost to rising U.S. merchandise imports, and to the increasing capitalintensity of production. In addition, the large number of mergers and acquisitions involving U.S. parent companies caused employment to decline as duplicative jobs were eliminated. Parents in integrated refining and extraction accounted for most of the overall decline in petroleum; their employment fell from 709,000 in 1977 to 478,000 in 1989. During the mid1970's, some of the largest parents in this industry—bolstered by high profits, which provided an inexpensive source of ftinds—had diversified into other industries, such as retail trade and electronics manufacturing. Parent companies sought diversification partly to secure their long-term profitability, which was threatened by increased control of crude oil production and prices by oil-producing countries. A decade later, in 1984-86, Industry, 1977 and 1989 Percent 7. The decline in MNC employment may be slightly overstated because of changes in the survey reporting 0 10 20 30 40 50 60 requirements between 1977 and 1989. In 1977, data were collected for foreign affiliates (and their U.S. par- Manufacturing ents) whose assets, sales, or net income (positive or negative) were at least $500,000. In 1982 and 1989, the exemption level was raised to $3 million; therefore, a Petroleum number of very small affiliates (and their parents) that were covered in the 1977 survey were not covered in FIRE the 1982 and 1989 surveys. However, because the data for these affiliates (and their parents) were very small, Services their exclusion from the 1982 and 1989 data does not significantly affect the comparability of the 1977 data Wholesale Trade with the 1982 and 1989 data. 8. Parents and affiliates are classified in "services" • 1977 • 1989 if their primary activities are characteristic of the Other Industries "services" division of the Standard Industrial Classification. Examples of such activities include personal FIRE Finance (except banking). Insurance, and Real Estate services and a wide variety of business, professional, U.S. Department of Commerce. Bureau of Economic Analysis and technical services. • •-, — Foreign affiliates 70 Nonbank foreign affiliates employed 6.6 million workers in 1989, down from 7.2 million in 1977. Weakness in worldwide economic activity led to a decline in affiliate employment between 1977 and 1982. During those years, and also through 1986, 9. For a detailed account of how automation and imports have affected employment in the U.S. textile, steel, and auto industries, see U.S. Department of Labor, Bureau of Labor Statistics, The Impact of Technology on Labor in Four Industries, Bulletin 2228 (Washington, DC: U.S. Government Printing Office, Mav 1985). 32 SURVEY OF CURRENT BUSINESS October 1991 Table 3.—Employment by Nonbank U.S. Parents, by Industry of U.S. Parent, 1977 and 1982-89 Share of all- Number of employees (thousands) total (percent) All industries Petroleum Oil and gas extraction Crude petroleum (no refining) and natural gas ...... Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale tiade Other 1977 1982 1983 1984 1985 1986 1987 1988 1989' 1977 1989 18,884.6 18,704.6 18399J 18,130.9 18,112.6 17,831.8 17,985.8 17,737.6 18,721.0 100.0 100.0 890*5 69.0 37.3 31.6 717.7 709.0 1,129.6 110.3 18.3 92.1 797.3 780.7 7.8 8.7 211.8 10.2 1,0613 94.3 13.1 81.2 733.4 722.7 1,010.6 98.9 15.6 83.3 684.9 673.8 812.4 69.9 11.7 58.2 550.8 540.0 693.8 68.9 10.3 58.5 547.2 537.9 658.4 80.3 12.9 67.3 506.5 496.8 628.0 71.6 12.2 59.5 495.0 478.4 4.7 .4 .2 .2 3.8 3.8 S.4 .4 .1 .3 2.6 57.6 46.2 1,2253 146.7 20.4 126.3 892.7 877.8 5.8 9.0 159.2 26.7 223.6 10.3 216.5 103 181.2 10.4 68.4 93 60.7 11.0 57.8 3.6 8 8 .3 .2 8 8 Manufacturing . (°) 8 (°) (°> (°) .3 (*) 11,775.0 10,532.8 10,403.1 10,660.4 10,502.8 10,431.0 10,195.9 9,819.9 10,138.4 62.4 54.2 Food and kindred products Grain mill and bakery products . Beverages Other 1,016.7 199.0 122.8 694.9 1,011.2 176.4 86.3 748.5 986.7 221.9 122.5 642.2 1,003.5 199.2 125.0 679.3 1,092.4 305.9 122.2 664.3 1,215.5 348.7 180.4 686.4 1.158.2 297,9 368.7 491.6 1,067.9 295.3 399.1 373.5 1.135.5 224.4 336.1 575.0 5.4 1.1 .7 3.7 6.1 1.2 1.8 3.1 Chemicals and allied products Industrial chemicals and synthetics 1,207.7 652.8 253.9 167.4 21.3 112.3 1,364.6 660.1 299.4 207.4 90.4 107.4 1,368.3 650.7 308.2 188.4 1,328.6 608.8 292.7 195.5 (D) 1,291.4 483.6 3323 217.9 (D) iP) 1.265.6 564.6 342.1 215.6 15.5 127.7 1,258.7 553.3 343.9 228.1 23.0 110.4 1,189.2 470.7 369.0 206.4 25.9 117.1 1,253.4 516.3 375.9 218.1 34.4 108.6 6.4 3.5 1.3 .9 .1 .6 6.7 2.8 2.0 1.2 1 .6 1,484.2 990.6 732.7 258.0 493.6 976.2 523.4 351.4 171.9 452.8 858.0 495.6 301.4 194.2 362.5 825.7 467.7 281.0 186.7 358.0 737.2 373.7 223.0 150.7 363.5 667.1 344.9 195.8 149.1 322.2 674.1 322.0 189.2 132.8 352.1 666.3 297.6 163.1 134.5 368.7 690.6 334.1 120.9 213.2 356.5 7.9 5.2 3.9 1.4 2.6 3.7 1.8 .6 1.1 1.9 Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery . Computer and office equipment Other 1,546.3 90.6 313.0 502.8 639.9 1,457.9 683 244.3 680.7 464.6 1.446.1 64.4 170.1 6873 524.0 1.566.0 66.2 180.1 760.0 559.7 1,406.5 55.7 172.4 746.9 431.5 1.217.7 52.2 1363 686.8 342.5 1.131.0 54.1 123.0 626 5 327.3 1.156.9 50.6 169.7 618.8 317.8 1.266.7 99.7 168.0 606.6 392.4 8.2 .5 1.7 2.7 3.4 6.8 .5 .9 3.2 2.1 Electric and electronic equipment Household appliances Household audio and video, and communications equipment . Electronic components and accessories Electrical machinery, n.e.c 1,274.1 169.6 320.3 157.1 627.0 1.619.5 91.9 609.9 290.1 627.6 1,651.3 1163 701.5 232.9 600.5 1.689.1 106.7 669.0 330.1 583.4 1,557.1 105.0 543.1 297.4 611.6 1,601.0 109.2 562.4 303.9 625.4 1,1493 60.3 302.7 227.0 559.4 1,042.5 59.2 278.6 189.8 515.0 1,016.3 84.5 489.9 199.3 242.6 6.7 .9 1.7 .8 3.3 5.4 .5 2.6 1.1 1.3 Transportation equipment Motor vehicles and equipment Other 2,289.0 1.356.9 932.1 1,6873 828.0 859.4 1,735.1 892.1 843.0 1,908.8 963.6 945.2 2.195.8 1,095.1 1,100.7 2,317.0 1,184.4 1.132.6 2,331.7 1.114.5 1,217.2 2,172.9 1,068.2 1.104.8 2,083.0 1,041.3 1,041.6 12.1 7.2 4.9 11.1 5.6 5.6 Other manufacturing Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products Priming and publishing Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmetallic mineral products . Instruments and related products Other 2,957.0 98.0 667.8 268.4 341.6 253.4 293.7 67.3 131.1 170.6 414.7 250.4 2,416.0 161.0 437.7 174.1 293.5 276.8 200.4 35.7 108.8 140.1 427.6 160.4 2,357.6 169.1 404.0 166.5 275.8 273.5 202.4 43.5 102.5 121.6 416.5 182.1 2.338.6 172.0 430.7 177.2 259.1 284.0 208.1 46.0 106.3 118.1 396.0 140.9 2,222.4 92.9 421.2 167.9 255.0 3023 211.9 40.5 102.1 116.3 395.0 117.3 2.147.0 59.1 396.7 142.7 337.1 322.4 174.0 86.7 91.6 104.8 320.5 111.4 2,493.0 72.4 407.8 147.2 348.9 317.7 146.1 94.1 76.9 107.6 663.7 110.7 2,524.1 97.5 342.7 206.5 362.8 322.6 123.1 88.4 77.4 81.3 714.2 107.6 2,692.9 150.3 3223 245.4 404.0 367.7 147.9 101.4 102.3 86.1 665.7 99.9 15.7 .5 3.5 1.4 1.8 1.3 1.6 .4 .7 .9 2.2 1.3 14.4 .8 1.7 13 2.2 2.0 .8 .5 .5 .5 3.6 .5 271.0 129.9 141.1 396.7 189.0 207.8 378.9 202.3 176.6 372.7 173.7 199.0 367.5 149.0 218.5 317.6 156.9 160.6 314.7 137.0 177.8 341.8 163.3 178.5 423.7 204.1 219.7 1.4 .7 .7 23 1.1 1.2 Finance (except banking), insurance, and real estate ... Finance, except banking ...„ Insurance Real estate « „..„ Holding companies, except bank holding companies S62.0 145.5 694.8 6.2 15.5 1,004.0 95.8 906.0 2.2 (*) 1,003.8 107.9 893.1 2.7 (*) 992.2 163.6 825.7 2.8 (*) 901.4 (D) 731.6 (D) (*) 990.8 215.9 771.6 1,054.1 236.4 814.6 2.9 .1 1,0493 254.5 793.1 1.6 .1 1,080.9 241.8 835.5 3.6 •1 4.6 .8 3.7 (*) .1 5.8 13 4.5 (*) Services Hotels and other lodging places Business services Advertising Equipment rental (ex. automotive and computers) Computer processing and data preparation services ... Business services, n.e.c Automotive rental and leasing, without drivers „.. Motion pictures, including televsion tape and Film Health services Engineering, architectural, and surveying services Management and public relations services Other 739.6 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 993.8 162.9 296.3 48.2 5.4 65.4 177.3 30.7 44.0 228.1 73.3 15.9 142.6 1,035.5 172.3 307.2 56.3 5.5 59.6 185.9 30.8 43.7 238.0 603 16.8 1663 1,0603 187.9 302.6 60.0 4.8 43.8 194.0 28.0 53.6 244.4 55.4 19.0 169.4 1,167.5 208.4 361.3 62.2 4.9 48.4 245.7 34.1 29.0 276.3 52.6 15.8 189.9 1,262.5 254.0 362.8 50.7 7.1 56.1 248.9 (D) 29 5 29o!o 63.3 193 ("*> 1,478.0 299.8 516.1 47.6 5.2 56.8 406.6 1,725.7 284.8 675.1 39.1 (D) 736 58.4 266.0 85.3 16.3 266.1 3.9 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 9.2 1.5 3.6 .2 (D A 43.8 281.8 71.6 18.8 (D> 1430.0 292.6 554.4 43.7 4.8 57.9 448.0 67.3 49.1 287.4 573 19.8 202.7 4346.4 24.6 65.3 21.8 43.5 283.5 682.4 1.090.0 2,200.6 4,551.9 16.9 14.9 7.8 7.1 251.0 619.0 1.421.4 2,228.8 4,448.6 26.3 15.3 7.6 7.7 215.1 579.4 1,386.4 2,226.1 3,983.8 25.! 40.4 15.2 25.2 201.3 611.0 808.1 2,297.9 4,162.7 20.0 28.6 13.1 15.5 190.8 649.2 936.2 2,337.9 4,017.6 20.9 34.5 17.4 17.1 171.5 617.8 1,045.3 2,127.6 4,2493 26.2 30.4 14.0 16.4 135.2 708.7 1,022.6 2,326.3 43383 23.9 28.3 14.7 13.5 147.1 682.0 1.129.2 2327.9 4,724.2 14.7 37.0 21.7 153 111.2 1,014.8 1,178.9 2,367.6 23.4 .1 .3 .1 .2 1.5 3.6 5.8 11.7 25.2 .1 .2 .1 .1 .6 5.4 6.3 12.6 Soap, cieaners, and toilet goods Agricultural chemicals . Chemical products, n.e.c Primary and fabricated metals Primary metal industries Ferrous Nonferrous Fabricated metal products Wholesale trade Durable goods Nondurable goods „ ,. Other industries Agriculture, forestry, and fishing Mining Metal mining Nonmciallic minerals Construction Transportation Communications and public utilities Retail trade , „ , • Less than 50 employees or .05 percent. D Suppressed to avoid disclosure of data of individual companies. n.a. Not available. 1. Sec footnote 1 to table 1. 8 (°) 8 (D) 113 9 D C) i 3 1.4 3 .1 1.4 October 1991 SURVEY OF CURRENT BUSINESS some parent companies shed foreign affiliates in order to concentrate on their core domestic businesses, which were threatened by rising competition from foreign producers and by hostile takeovers. Some affiliates were sold in response to worsening host-country economic conditions, such as those caused by the burdensome increases in debt-service requirements of Latin American governments. In the case of South Africa, some affiliates were sold because of U.S. public sentiment against South Africa's social policies and because of U.S. legislation discouraging direct investment in that country. Also contributing to the 1977-86 decline in affiliate employment were increases in productivity due to the introduction of labor-saving technologies. After 1986, affiliate employment grew, reflecting renewed emphasis by U.S. parents on foreign operations. Manufacturers and providers of services were attracted by favorable conditions abroad, particularly prospects for greater European economic integration and for rapid economic growth in the Pacific Rim. The decline in employment by foreign affiliates contrasts with increases in overall employment in some host countries. From 1977 to 1989, affiliate employment in OECD countries decreased 8 percent, while total employment in these countries grew 11 percent. The disparate growth rates may primarily reflect selloffs of foreign affiliates during 1977-82; after 1982, the growth rates of affiliate and OECD host country employment were similar. thereafter. The 1977-82 decrease was widespread, particularly among manufacturing industries. In Africa, affiliate employment fell from 287,000 in 1977 to 120,000 in 1989. The sharpest declines occurred after 1982 and largely reflected selloffs of affiliates in South Africa. In South America, affiliate employment fell from 771,000 in 1977 to 651,000 in 1989. From 1977 to 1982, the decline was concentrated in Argentina, Brazil, and Colombia and resulted from divestitures and reductions in capacity, partly in response to deteriorating economic conditions.10 Much of the decline after 1982 reflected selloffs of Venezuelan affiliates. Affiliate employment increased in two regions—Central America and Asia and Pacific. In Central America, affiliate employment grew from 480,000 in 1977 to 604,000 in 1989. Especially rapid growth in Mexico reflected the establishment of affiliates along the U.S. border to take part By area.—The small decline in affiliate employment between 1977 and 1989 reflects offsetting changes among areas. The declines are concentrated in Europe, Canada, Africa, and South America, and the increases are concentrated in Central America and in Asia and Pacific (table 4, chart 5). In Europe, affiliate employment fell from 3.1 million in 1977 to 2.7 million in 1989. It declined sharply during 1977-82, probably because of the recession in many countries; after 1982, affiliate employment decreased slightly. The 1977-82 decline was widespread, but the decreases were especially large in the United Kingdom and Spain, where a number of manufacturing affiliates were sold. In Canada, affiliate employment was 945,000 in 1989, down from 1.1 million in 1977. Employment showed a pronounced drop between 1977 and 1982 and increased slightly CHART 5 10. In 1981, a sharp rise in world interest rates led to burdensome increases in the debt-service requirements of Latin American governments. To conserve foreign exchange needed to service the debt, some host governments in the region sought to decrease imports through import restrictions, currency devaluations, and austerity measures. As a result, affiliates of U.S. MNC's found it more difficult or expensive to import intermediate goods, as well as more difficult to sell goods in local markets. In addition, the region's rapid inflation tended to encourage affiliates to invest their profits in high-yield financial instruments rather than in new capital goods. These conditions lasted until the late 1980's, when an improved business climate and a revival of pro-foreigninvestment policies in some of the larger host countries began to encourage affiliates to expand operations. Foreign Affiliate Employment, Percent Distribution by Area, 1977 and 1989 33 11 in the maquiladora program and the expansion of affiliates in central Mexico in response to the country's economic revitalization and improved climate for foreign direct investment. In Asia and Pacific, affiliate employment grew from 1.2 million to 1.4 million. Over one-half of the increase was in Australia and was attributable to the acquisition of minority-owned affiliates; employment by majority-owned Australian affiliates declined. The increases in employment in East Asian countries, such as Thailand and Singapore, were in response to the region's rapid economic growth and to the relatively open direct investment and foreign trade policies in some of the newly industrialized countries. Employment by Japanese affiliates declined in 1977-89, but the decline mainly resulted from the sale of a minority interest in a large company between 1977 and 1982; employment by majority-owned affiliates in Japan doubled from 1977 to 1989. By industry.—The small decline in affiliate employment between 1977 and 1989 reflects larger offsetting changes among industries; declines in most manufacturing industries, construction, mining, and petroleum refining more than offset increases in retail trade and "services" (table 5, chart 6). Manufacturing affiliates employed 4.2 million workers in 1989, down from 4.8 million in 1977. The decline in manufacturing employment 11. This program allows Mexican affiliates to import components for assembly, free of customs duties, from the United States if at least 50 percent of the finished goods are exported to the United States. U.S. duties are levied only on the value added in Mexico. CHART 6 Foreign Affiliate Employment, Percent Distribution by Industry, 1977 and 1989 Europe Asia and Pacific Percent 0 Canada 10 20 30 40 50 60 Manufacturing Latin America and OWH of which: Mexico xzzn 70 i Petroleum Africa FIRE Services Wholesale Trade • OWH Other Western Hemisphere 1977D1989 Other Industries 1 "International" affiliates are those that have operations in more than one country and that are engaged in petroleum shipping, other water transportation, or operating movable oil-and gas- FIRE Finance (except banking). Insurance, and Real Estate drilling equipment. U.S. Department of Commerce, Bureau of Economic Analysis 91 1 o5 U.S. Department of Commerce, Bureau of Economic Analysis 91-10-6 SURVEY OF CURRENT BUSINESS 34 October 1991 Table 4.—Employment by Nonbank Foreign Affiliates, by Country, 1977 and 1982-89 Share of all- Number of employees (thousands) (percent) 1977 1982 1983 1984 1985 1986 1987 1988 1989' 7,196.7 6,640.2 6383.1 6,417.5 6,419.3 6,250.2 6,269.6 6,403.5 Canada 1,064.5 913.8 900.6 897.9 900.6 905.1 907.8 Europe 3,110.5 2,766.7 2,649.2 2,725.2 2,760.0 2,617.1 Austria Belgium .... Denmark ... Finland France 32.1 157.0 20.3 5.5 470.9 31.7 130.1 18.0 36.7 132.5 17.9 35.1 131.4 19.3 528.2 35.5 129.0 18.3 5.2 508.5 506.0 Germany, Federal Republic of Greece Ireland Italy Luxembourg Netherlands 587.4 16.6 27.6 212.8 541.3 13.4 38.4 188.0 531.5 11.8 34.8 182.4 535.9 11.2 33.9 229.4 All countries .... Norway ,..,., Portugal „...„ Spain Sweden Switzerland Turkey United Kingdom Other ;,„ 5.1 5.2 1977 1989 6,621.4 100.0 100.C 965.5 945.4 14.8 14.3 2,608.0 2,632.6 2/70SJ 43.2 40.9 32.5 129.6 19.4 31.9 121.1 19.9 33.4 124.4 19.5 29.7 130.3 20.7 2.C 7.5 .4 2.2 .3 .1 510.2 368.3 355.1 365.7 408.9 6.5 538.6 10.2 35.2 231.1 555.1 552.9 10.3 35.8 237.2 541.7 11.5 39.4 235.4 551.5 13.5 42.3 186.7 8.2 5.2 5.8 9.8 33.7 203.2 5.6 5.9 8.3 .2 .6 3.0 2.8 .1 1.9 .1 2.1 7.5 7.1 7.0 8.1 8.5 8.7 7.6 7.6 8.0 135.3 128.1 131.2 133.8 135.7 130.4 132.0 138.8 21.6 19.4 216.7 42.9 47.1 14.6 1,069.3 5.1 20.2 24.4 163.8 37.6 42.3 8.5 830.7 18.6 22.6 151.0 32.3 44.7 21.8 22.1 157.6 37.7 45.6 798.1 21.0 25.0 152.7 37.7 46.8 9.0 807.3 819.8 19.3 22.3 162.5 37.5 47.9 10.7 797.4 20.6 22.1 155.2 37.5 48.0 13.5 817.0 27.4 24.0 150.8 36.7 47.6 16.3 864.2 14.9 2.6 18.6 22.7 154.9 33.4 46.0 8.1 771.1 2.3 1.9 2.0 1.8 2.7 2.5 3.5 .1 9.0 .3 .1 6.2 .2 .4 136.1 8.0 A .3 .3 3.0 .6 .7 .2 A A 2.3 .6 .7 .2 13.] 1347.0 1350.6 1,242.6 1,216.7 1,230.5 1,195.2 1,233.2 1,251.2 1301.2 18.7 19.7 South America .... Argentina Brazil Chile Colombia Ecuador ... Peru Venezuela Other 771.0 108.0 435.7 10.1 61.3 655.4 82.1 377.0 12.6 54.0 11.5 24.2 83.4 10.6 641.5 81.0 377.0 12.7 51.7 12.1 20.6 76.4 10.0 638.9 70.9 392.0 11.9 50.2 11.9 18.3 74.3 670.9 68.4 432.7 12.9 44.2 12.0 17.0 74.3 9.4 661.7 67.4 424.6 14.5 45.8 11.3 16.3 71.6 10.1 10.7 9.1 9.4 631.6 68.4 403.2 13.2 40.7 11.4 16.2 68.2 10.4 650.8 62.5 436.9 19.3 40.2 26.3 101.2 18.7 728.7 80.6 425.6 12.7 54.5 12.0 26.1 102.7 14.5 Central America Costa Rica Guatemala Honduras . Mexico .... Panama .... Other 480.4 22.3 22.6 24.7 370.1 20.8 19.9 565.3 18.7 15.9 27.1 470.3 23.3 10.0 534.5 23.6 14.3 25.6 442.9 19.0 523.4 22.3 16.6 24.4 430.0 20.4 551.7 20.6 16.5 22.9 465.9 21.1 524.6 19.3 15.6 21.9 441.9 21.6 523.1 20.0 16.2 21.9 438.1 22.4 549.0 20.5 17.1 23.7 460.1 23.2 9.7 4.7 4.3 4.5 4.4 604.3 23.9 19.2 21.7 515.8 20.6 3.1 5.1 .3 .3 95.7 56.6 52.7 51.8 39.9 39.0 40.5 46.1 1.3 7.6 7.8 7.5 3.6 7.2 3.4 6.8 3.9 8.2 3.6 6.6 2.2 8.7 1.4 2.5 3.0 3.5 46.6 10.4 12.6 10.9 2.7 9.8 5.2 2.1 2.3 5.2 2.2 8.3 .6 .6 .1 .1 15.7 3.6 10.9 7.4 6.2 2.5 9.7 3.3 12.8 3.0 10.6 7.7 3.5 10.2 39.2 6.6 2.2 3.1 5.8 3.7 3.7 3.8 2.6 .2 1.1 5.0 .5 3.9 .7 3.8 .8 4.2 .7 4.0 .7 3.8 2.4 1.5 3.9 3.9 1.4 1.3 287.2 251.4 237.6 224.9 186.5 9.1 11.8 99.5 66.1 177.6 9.5 12.2 87.7 68.2 150.6 9.7 12.4 61.6 66.9 120.4 12.7 91.8 15.1 68.3 3.1 5.2 102.0 24.5 70.7 2.4 1,416.2 391.9 10.6 78.4 37.8 38.0 388.0 70.0 60.3 22.3 100.4 81.5 63.4 59.9 13.7 28.0 Latin America and Other Western Hemisphere . 9.6 Other Western Hemisphere Bahamas Barbados Bermuda Dominican Republic Jamaica , Netherlands Antilles Trinidad and Tobago United Kingdom Islands, Caribbean ., Other 4.6 Africa 7.6 7.2 8.7 17.5 126.8 86.1 15.3 119.7 81.2 1383 21.2 57.0 154.5 23.8 113.1 147.7 16.6 117.8 137.9 17.1 107.2 123.4 16.9 93.8 108.0 13.6 83.6 99.7 15.6 74.3 7.7 9.9 6.2 4.4 8.4 3.2 7.1 6.1 7.5 4.1 53.6 6.6 6.6 1,2083 269.3 D 1,159.7 311.2 1,170.0 299.0 1,182.0 297.4 1,155.5 290.4 1,214.7 343.6 44.8 94.6 52.5 389.1 31.1 36.0 21.2 111.8 44.2 68.0 27.3 (D) 45.8 75.2 57.2 302.0 32.2 60.8 19.7 104.7 46.1 57.8 29.4 16.5 48.3 74.9 49.7 310.5 36.5 62.8 18.4 104.4 51.3 60.9 29.4 22.7 52.6 74.8 47.8 3I3.I 38.3 66.6 19.5 97.1 56.6 64.9 29.9 18.1 47.6 70.1 45.9 329.6 40.0 64.8 17.9 91.2 47.4 58.7 30.9 15.3 U10.8 344.9 6.6 46.8 62.4 38.3 341.5 46.7 62.2 16.8 91.7 47.5 62.5 29.7 13.2 48.9 54.7 37.9 344.3 56.4 63.5 17.1 91.5 51.5 53.2 31.0 14.2 U83.9 369.0 9.0 49.2 52.0 39.0 363.1 65.8 64.3 18.8 95.9 55.7 55.3 33.6 13.2 40.9 43.7 35.5 33.1 31.5 27.6 28.7 28.1 6.5 ( ) D ( ) 2,941.6 304.9 * Less than .05 percent. Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to table 1. 2. See footnote 1 to table 2. 3. "Eastern Europe" comprises Albania, Bulgaria, Czechoslovakia, German Democratic Republic, Hungary, Poland, Romania, and the Union of Soviet Socialist Republics. 4. Sec footnote 2 to table 2. 5. OPEC (Organization of Petroleum Exporting Countries) comprises Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya. Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. 11.6 16.1 135.9 91.8 2 a 3.2 5.7 Middle East Israel Saudi Arabia : United Arab Emirates „ Other International 5.3 2.3 17.9 126.0 137.5 Nigeria ! South Africa . Other Addenda: Eastern Europe3 European Communities (12) 4 . OPEC' 8.2 3.8 3.3 217.7 10.2 11.0 115.6 80.9 Egypt Asia and Pacific Australia ., China Hong Kong India ! Indonesia Japan Korea, Republic of . Malaysia New Zealand Philippines Singapore Taiwan Thailand Other 8.8 9.1 1.1 0 2,618.7 321.0 1.2 0 2.500.1 296.1 5.3 0 2,577.9 274.6 5.7 6.9 9.3 14.1 61.1 7.3 3.1 18.7 6.9 38.2 62.6 4.3 .2 .3 .2 .3 .8 2,603.2 254.0 2,462.9 221.3 2,452.4 217.4 2,471.2 208.3 2,539.7 194.5 1.5 6.1 .1 .9 .1 .4 1.4 .3 6.6 .3 .6 .1 .2 .9 .1 6.7 .3 .3 9.1 A .3 .3 .3 7.8 .3 (*) .7 .1 .1 (*) (*) (*) .1 4.0 .1 .2 1.8 (*) (*) .3 .1 (*) (*) (*) (*) 1.8 .2 .1 .6 1.9 .9 1.9 .3 .8 .1 .7 1.5 A 1.1 (*) .1 16.8 21.4 3.7 (D) .6 5.9 .2 1.2 .6 .6 1.3 .7 5.4 .4 5.9 1.1 .5 .3 1.6 1.5 .6 .9 .9 .3 1.2 I.C .4 A .2 .6 A (D) (D) 40.9 4.2 n 38.4 2.9 35 SURVEY OF CURRENT BUSINESS October 1991 Table 5.—Employment by Nonbank Foreign Affiliates, by Industry of Affiliate, 1977 and 1982-89 Share of all- Number of employees (thousands) otal (percent) All industries .... . . . IntcEnited petroleurn refining and extraction Petroleum wholesale trade Other ................... ' ....... ......... ..... ....... Manufacturing ....... ........ Other Industrial chemicals and synthetics Agricultural chemicals . Ferrous ..... . Machinery except electrical Kaim and canicn machinery Computer and office equipment Other ............. ........ ........ .............. • . . . ....... Electric and electronic equipment ........ ... .... .... . ...... Electronic components and accessories ... Other Other manufacturing Tobacco products ...... ... ...... . ..... . . .... Lumber wood furniture and fixtures ....... Printing and publishing Rubber products . ... ........ ........ * *• Other Wholesale trade Durable goods ..... . ... .. „ Finance except bankinz . Real estate •*** **+•+.*. ...«...*..................... Holdine comoanies exceDt bank holding companies Hotels and other lodging places > Computer processing and data preparation services .... Business services n c c Motion pictures including televsion tape and film Health services Engineering architectural and surveying services Management and oublic relations services Other ............ Other industries ...... Agriculture forestry and fishing . Mining Metal mining Retail trade ....... .................. ... . . ...... .... * . ....... .... .... ....... . « ... . * Less than .05 percent. D Suppressed to avoid disclosure of data of individual companies. n.a. Not available. I. Sec footnote 1 to table 1. ... . . . . . ........ ....... 1987 1988 1977 1982 1983 1984 1985 1986 1977 1989 7,196.7 6,640.2 6383.1 6,417.5 6,4193 6,250.2 6,269.6 6,4033 6,621.4 100.0 100.0 369.9 96.2 44.7 51.5 185.6 106.1 73.4 6.1 55.9 32.2 410.7 129.0 59.7 693 206.2 135.8 67.2 3.2 49.4 26.1 380.1 119.6 59.8 59.8 193.9 128.2 62.8 2.9 44.1 22.5 359.7 114.6 62.6 52.1 184.0 119.7 61.5 2.8 37.9 23.1 336.2 117.6 65.0 52.6 159.5 97.4 59.2 2.9 39.6 19.5 295.2 95.7 58.9 36.7 142.3 86.7 53.2 2.5 37.6 19.6 289.8 93.9 57.2 36.7 138.8 81.5 54.4 2.9 37.6 19.4 296.1 1073 693 38.0 128.4 743 51.1 3.0 40.6 19.8 290.8 99.3 66.7 32.7 129.6 39.4 (D) 39.4 22.5 5.1 13 .6 .7 2.6 1.5 1.0 .1 .8 .4 4.4 1.5 1.0 .5 2.0 (D) .6 (D) .6 3 4,849.0 4,428.6 4,229.6 4370.0 4348.7 4,120.9 4,117.8 4,144.1 4,188.8 67.4 633 436.2 90.1 56.2 290.0 447.7 128.4 74.2 245.2 422.9 117.5 78.3 227.1 416.8 95.9 74.6 246.3 399.2 H2.2 61.6 2253 399.5 112.7 65.8 221.0 407.1 118.2 64.4 224.5 416.4 117.1 73.0 2263 479.0 115.0 139.8 224.2 6.1 13 .8 4.0 7.2 1.7 2.1 3.4 614.1 223.9 1783 117.6 27.8 66.5 589.6 200.4 176.9 120.5 22.7 69.2 572.8 1973 178.5 115.0 18.8 63.0 563.8 1953 174.6 110.9 16.5 66.4 576.8 197.5 182.0 113.8 183 65.2 569.9 186.5 182.S 119.8 18.7 623 579.8 188.7 189.8 118.8 18.4 64.1 593.7 195.9 1913 1223 17.6 66.4 5803 191.4 168.8 133.9 143 71.8 8.5 3.1 2.5 1.6 .4 .9 8.8 2.9 2.5 2.0 .2 1.1 396.2 171.9 67.0 104.9 224.3 320.6 111.5 52.7 58.8 209.1 2873 106.0 50.8 55 2 181.3 287.2 103.3 493 53.7 184.0 2793 98.2 49.8 48.4 181.1 273.8 953 48.8 46.5 1783 261.4 90.1 44.6 45.5 1713 228.1 60.3 19.1 41.2 167.8 221.8 57.5 10.6 46.9 164.2 5.5 2.4 .9 1.5 3.1 33 .9 .2 .7 2.5 627.4 59.6 152.0 206.5 209.3 525.5 363 106.2 179.7 203.4 504.9 34.6 94.1 181.2 195.1 5713 32.1 88.1 248.9 202.1 573.5 30.9 95.5 252.6 194.5 541.5 34.8 95.3 214.2 197.1 565.1 30.1 94.5 257.2 183.3 557.5 26.6 87.1 264.2 179.6 552.7 8.7 .8 2.1 2.9 2.9 83 7563 1170 249.9 219.0 170 4 677.7 80 9 197.1 2303 169.4 673.8 93 6 193.7 256.0 130 6 705.1 92 5 202.5 275.9 134.2 680.7 97.5 1923 268.8 122.2 7283 101.8 251.7 265.2 109 6 684.6 111.1 194.9 2683 1104 665.9 107.9 169.7 277.2 111.1 649.9 90.1 153.3 289.6 116.9 103 1.6 3.5 3.0 2.4 9.8 1.4 23 4.4 1.8 9096 838.0 71.6 926.4 868.8 57.6 893 0 8403 52.8 913 6 858.7 55.0 950.4 895.4 55.0 759.9 701.2 58.6 7743 7053 68.8 821.2 751.0 70.2 833.0 795.2 37.8 12.6 11.6 1.0 12.6 12.0 .6 U09.I 51.8 142.1 57.8 161.5 34.0 183.1 38.7 68.2 82.9 176.7 1123 941.1 73.0 95.5 42.1 155.8 30.0 127.2 47.6 59.8 73.0 174.5 62.6 874.7 71.9 86.8 34.3 147.2 31.8 1193 44.9 57.9 57.9 156.9 65.6 912.2 106.4 84.4 30.7 146.5 34.3 121.9 47.5 57.8 57.8 157.1 67.8 888.8 100.7 83.4 30.9 140.2 32.8 121.6 48.2 56.4 57.0 159.4 58.2 848.0 94.7 86.8 27.4 1203 29.8 115.5 50.5 57.0 51.5 158.0 56.7 845.5 98.5 83.2 26.5 123.0 30.7 107.5 52.4 593 49.6 169.4 45.6 8613 102.0 813 27.4 134.2 32.1 1023 53.7 55.7 49.1 175.9 47.7 872.1 55.1 87.2 50.0 151.2 32.4 1093 49.5 56.0 40.7 1893 513 15.4 .7 2.C .8 2.2 '9 1.2 2.5 1.6 13.2 .8 13 .8 23 .5 1.6 .7 .8 .6 2.9 .8 564.6 341.0 223.6 4773 351.0 1263 460.4 333.1 127.3 4513 325.8 125 1 458.4 336.9 121.5 439.2 367.8 121.4 495.6 373.2 122.5 501.6 381.8 119.8 534.8 395.0 139.8 73 4.7 3.1 8.1 6.0 2.1 93.7 24.3 61.9 1.5 6.0 1183 32.2 82.0 2.0 2.1 127.1 39.2 84.2 13 2.4 122.0 39.1 78.2 13 33 139.8 42.8 94.0 1.1 1.9 144.5 46.8 94.5 1.0 2.2 153.6 52.1 98.1 1.2 23 163.0 57.1 99.9 3.1 2.9 160.4 61.7 94.( 2.5 23 308.1 n.a. n a. n.a. n.a. 3073 50.7 143 0 29 3 303.8 513 148.7 30.0 lOi n.a. n.a. n.a. n.a. n.a. n.a. n.a. 318.5 55.3 144.4 29.5 32.6 12.1 70.2 12.0 6.5 18.1 31.7 13.7 36.8 S 10.9 7.9 12.8 27.7 12.4 32.0 296.1 50.8 141.7 32.2 26.7 18.0 64.7 11.1 7.8 15.0 26.8 12.4 30.5 318.8 49.9 154 3 36.6 28.6 21.5 67.7 U.I 19.9 16.1 25.9 12.1 29.7 347.9 55.2 162 4 38.1 24.1 25.2 75.0 14. 20.2 17.7 24' 17.8 363 3733 563 182.9 41.4 24.1 27.6 89.8 18.6 19.8 13.5 28.7 19.1 34.4 483.0 55.0 259.4 45.9 5.0 42.6 166.0 (D 24. 18.8 27 7 183 43 n.a. n.a. n.a. n.a. n.a. n.a. n.a n.a n.a. n.a. n.a. n.a. 73 .8 3.9 .7 .1 .6 2.5 D ( ) .4 3 .4 3 1,011.4 130.4 187.8 1683 19.5 179.4 48.1 40.0 425.7 887.0 102.6 140.5 123.2 173 88.4 47.1 42.4 466.0 810.8 97.2 119.8 107.8 12.0 55.6 46.8 44.5 446.9 840.1 103.3 119.6 107.6 12.0 73.4 43.9 41.4 458.5 881.6 90.1 108.5 96.: 12 2 56.7 463 433 536.5 865.0 91.3 97.8 84. 13.0 50.4 39.0 46. 539. 925.4 96.6 90.2 753 14.9 60.0 44.9 47.9 585. 963.6 87. 88. 76.2 12.4 53. 54. 53. 627. 14. 1. 2. 2. 14.6 13 1.3 1.2 .2 .8 .8 .8 9.5 11.0 7.6 18.2 31.1 12.9 32.7 100.0 121.8 110.7 11 1 84.0 47.7 44.2 481.0 91.9 242.0 2.5 c (*) 1.4 3.7 2.4 .9 1.4 (*) 23 5. 36 was centered in industries in which U.S. parent companies experienced vigorous domestic competition from foreign producers—primary and fabricated metals, consumer electronics, tires, automobiles, and textiles. In some cases, the declines resulted from the shedding of foreign affiliates as part of a worldwide restructuring. In other cases, the declines reflected the adoption of labor-saving production techniques. In primary and fabricated metal products, affiliates employed 222,000 workers in 1989, down from 396,000 in 1977. The decrease partly resulted from the sale of steel- and aluminumproducing affiliates. In steel, a large U.S. parent sold off foreign assets as part of a global restructuring intended to ward off a takeover attempt. In aluminum, several affiliates in the United Kingdom and India were sold in the early 1980's, as producers sought to cope with high energy costs and falling aluminum prices. In household audio and video and communications equipment, affiliate employment fell from 250,000 workers in 1977 to 153,000 in 1989. Several large diversified U.S. parent companies sold their consumer electronics operations to foreign producers so that they could concentrate on more profitable business lines. In rubber products, mainly tires, affiliate employment fell from 183,000 in 1977 to 109,000 in 1989. During the 1980's, some parents sold foreign affiliates to raise funds for capital investment to meet rising competition in the United States from Japanese and European producers. In motor vehicle manufacturing, affiliate employment fell from 838,000 in 1977 to 701,000 in 1986 and increased thereafter to 795,000 in 1989. In the late 1970's and early 1980's, a shift in consumer preferences toward smaller, more fuel-efficient cars put U.S. auto producers at a competitive disadvantage vis-a-vis foreign producers. lb increase their competitiveness, U.S. producers invested large sums to develop and produce new products. Because falling sales constrained profits, some U.S. producers sold off foreign operations to raise the necessary funds for investment. After 1986, affiliate employment in motor vehicle manufacturing rose again, as some U.S. producers focused on certain overseas markets where profits were higher and competition not so intense. In textile products and apparel, affiliate employment fell from 142,000 in SURVEY OF CURRENT BUSINESS 1977 to 87,000 in 1989. The decline was widespread and probably reflected increased automation. Outside manufacturing, affiliate employment declined in construction, mining, and petroleum refining. In construction, employment fell from 179,000 in 1977 to 54,000 in 1989 as a result of depressed activity and increased international competition. In mining, employment fell from 188,000 in 1977 to 89,000 in 1989. Much of the decline was in Africa, where some very large operations were sold, partly in response to declining commodity prices. In petroleum, employment fell from 370,000 in 1977 to 291,000 in 1989, partly because of worldwide overcapacity in the refining sector. Affiliate employment grew in retail trade and in "services." In retail trade, employment increased 'from 426,000 in 1977 to 627,000 in 1989. Most of the increase reflected MNC's in the fast food industry seeking to expand beyond the saturated U.S. market. In "services," employment increased from 308,000 in 1977 to 483,000 in 1989; most of the increase occurred after 1982. Many "services" industries showed increases; however, the overall increase was largely centered in personnel supply services. Selected Aspects of MNC Operations in 1989 This section presents an analysis of detailed data from the 1989 benchmark survey that were also collected in the previous benchmark survey but not in the annual surveys. These data—most of which were collected only for majority-owned foreign affiliates (MOFA's)—include U.S. merchandise trade by product, by intended use, and by destination or origin; compensation of and hours worked by production workers of MOFA's in manufacturing; research and development expenditures and employment by MOFA's and their U.S. parents; and sales of goods and services by MOFA's and their U.S. parents by destination and affiliation. This section also discusses the industrial specialization of MNC's in 1989. Merchandise trade Exports.—In 1989, U.S. merchandise exports shipped to MOFA's, at $97.1 billion, were 95 percent of exports shipped to all foreign affiliates and 40 percent of total MNCassociated exports (table 6). Most October 1991 exports to MOFA's—$85.6 billion, or 88 percent—were shipped by U.S. parents. By destination, exports to MOFA's in Canada were largest, at $37.8 billion (table 7). A significant portion of the exports to Canadian MOFA's— 15 percent—were shipped by unaffiliated U.S. persons; these exports accounted for over one-half of the shipments to all MOFA's by unaffiliated U.S. persons. Factors contributing to the large trade with Canada were the 1965 U.S.-Canadian automotive trade pact, which eliminated tariffs on such trade, and the geographical proximity and economic similarities between the two countries. Exports to European MOFA's were $29.5 billion. Within Europe, exports to MOFA's in the United Kingdom were largest, at $7.7 billion. By product, nearly two-thirds of total U.S. exports shipped to MOFA's consisted of machinery, both electrical and nonelectrical, and of road vehicles and parts.12 Exports of chemicals and 12. The product categories used in the benchmark survey are based on the Standard International Trade Classification (SITC). For a description of the SITC, see Standard International Trade Classification, Revision 2 (United Nations Statistical Papers, Series M, No. Table 6.—U.S. Merchandise Trade Associated with Nonbank U.S. MNC's, 1988 and 1989 [Millions of dollars! MNC-associated U.S. exports, total Shipped to affiliates2 To MOFA's By U.S. parents By unaffiliated U.S. persons To other affiliates3 By U.S. parents By unaffiliated U.S. persons Shipped to other foreigners by U.S. parents .... Of which: Shipped4 to foreign parent groups of U.S. parents MNC-associated U.S. imports, total . Shipped by affiliates2 By MOFA's ., To U.S. parents To unaffiliatcd U.S. persons . By other affiliates3 To U.S. parents To unaffiliated U.S. persons Shipped by other foreigners to U.S. parents .... Of which: Shipped by foreign parent groups of U.S. parents* 1988 1989' 215,207 241,491 102,067 97,077 94,881 90,780 78,204 12,575 4,101 85,648 n.a. 120,326 11,428 4,990 3.503 1,487 139.425 180,917 87,291 75.578 65.464 10,113 11,713 n.a. n.a. 93,626 192484 93,694 84,848 72,374 12,474 8,846 3,610 5,236 98,890 n.a. 10,104 29,781 Addenda: AH U.S. merchandise exports MNC-associated U.S. exports as share of total (percent) 320,337 67 67 All U.S. merchandise imports MNC-associated U.S. imports as share of total (percent) 447,323 477368 40 40 361,451 n.a. Not available MNC Multinational company MOFA Majority-owned foreign affiliate 1. See footnote 1 to table 1. 2. As reported on foreign affiliates' forms. 3. For 1988, U.S. exports shipped to minority-owned foreign affiliates are not available by affiliation of shipper, and U.S. imports shipped by minority-owned foreign affiliates are not available by affiliation of person to whom the goods were shipped. 4. For U.S. parents that are, in turn, owned 10 percent or more by a foreign person, the foreign parent group consists of (1) the foreign parent of the U.S. parent, (2) any foreign person, proceeding up the foreign parent's ownership chain, that owns more than 50 percent of the person below it, and (3) any foreign person, proceeding down the ownership chain(s) of each of these members, that is owned more than 50 percent by the person above it. SURVEY OF CURRENT BUSINESS October 1991 37 a single country. Nearly all of the im- and on the number of hours worked portsfromMexico were shipped to U.S. by and the compensation paid to these parents; these imports were largely workers (table 8). Employee comof finished goods that had been ex- pensation includes wages, salaries, ported by the parents to Mexico as and payments for employee benefit components for assembly under the plans, such as pension funds, health maquiladora program. Imports from insurance, and other fringe benefits. Asia and Pacific, particularly SingaIn interpreting the estimates of compore, and from Europe, particularly pensation, it should be noted that the the United Kingdom, were also sizable. hourly rates are a measure of labor cost Most of the imports from Singapore per unit of time worked, not a measwere of electronic components. ure of labor cost per unit of output; By product, the majority of im- these two measures can differ because ports shipped by MOFA's consisted of variations in productivity. The esof road vehicles and parts and of timates of output required to measure machinery—both electrical and non- labor costs per unit of output (that is, electrical. Imports of petroleum and gross product originating in foreign afproducts and of "other manufactures" filiates) are not yet available, but BEA were also substantial. plans to prepare such estimates in the next year. Compensation of production workers of For MOFA's, the average compenmanufacturing affiliates sation per hour of production workers was $10.46 in 1989. For coun34/Rev. 2, New York: United Nations, 1975). In addiFor MOFA's in manufacturing, de- tries which affiliates employed more tion, product classifications are summarized in BEA's tailed estimates are available on the than in1,000 Guide to Industry and Foreign Trade Classifications for production workers, avnumber of their production workers erage compensation International Surveys. per hour ranged from $23.27 in Japan to $1.29 in China. Among the five countries Table 7.—U.S. Merchandise Trade Associated With Majority-Owned Nonbank Foreign Affiliates, having the most affiliate production by Area of Destination or Origin, by Product, and by Intended Use, 1989 workers, hourly compensation aver[Millions of dollars] aged $16.66 in Canada, $11.99 in the Exports shipped to affiliates Imports shipped by affiliates United Kingdom, $17.11 in Germany, Shipped to Shipped to Shipped by Shi] ihipped by $4.53 in Brazil, and $2.44 in MexTotal unaffiliated unaffUiated ico. The average compensation per U.S. persons parents U.S. persons parents hour of production workers of manuAll areas, all products . 12*474 72^74 97,077 84348 11,428 85,648 facturing MOFA's in many countries By area of destination or origin is substantially less than the $14.31 Canada ,..,..,,.„,......,...., 32,461 32,060 6,462 37,843 5.783 38.923 average hourly compensation of proEurope .................... 13.027 2,169 29.510 26,995 15.196 2,515 Ofwhicht duction workers in manufacturing in 3.314 1,451 112 1,564 3.550 237 4,836 Germany, Federal Republic of 287 1.759 2,045 5,107 the United States. However, produc271 1,495 97 550 646 1.785 290 Italy „„„ , .., tion workers of manufacturing MOFA's 3,401 67 853 3,652 920 251 Netherlands 1,128 30 569 1,244 117 599 Switzerland in most countries earn more per hour, 6,845 4,114 7,687 842 1.387 5.501 United Kingdom 9,322 11.095 9,591 1,773 809 10,400 Latin America and Other Western Hemisphere on average, than do all production Of which: 644 5.996 6,410 6,640 6,461 51 Mexico workers in manufacturing in those ( ) 1.637 (°) 677 ( ) 2314 13 A . . . . . 317 89 149 362 406 511 countries. Middle East '. 16,447 2.209 15,295 1.103 17.504 17.550 Asia and Pacific By industry, compensation rates Of which: 743 2.893 3,184 597 1.339 290 Australia • ranged from $13.14 in nonelectrical 2.622 797 2,186 2.093 3,418 92 Hong Kong 1,959 271 6,256 6.044 2,230 212 machinery to $6.56 in electric and japan 4,942 100 2,335 2.128 5,041 207 Singapore .«•• 0 ( ) (*) (*) electronic equipment. The high rate International' Addendum: in nonelectrical machinery reflects the 2,098 11,083 13,181 2,314 25.047 27.361 European Communities (12) relatively high proportion of employBy product ment in that industry that is in high222 Food 1,240 1.462 2,524 701 1,823 wage countries and the high level of 84 Beverages and tobacco 297 722 106 381 828 Crude materials, inedible, except fuels 1,205 945 1,164 194 2369 1.139 skill required for the work. The low Petroleum and products 1,337 2,567 8,080 297 10,647 1,634 Coal and coke 34 7 79 35 41 rate in electric and electronic equip114 878 3,301 11.151 4.179 1.639 Chemicals 12.790 ment is partly due to the relatively 1,399 23,356 34,461 24,755 2,419 36,880 Road vehicles and parts 891 23.236 26,225 27.116 3.241 26.477 large proportion of affiliate operations, 404 Other transportation equipment 781 1.049 1,830 293 697 of "other manufactures" were also sizable. By intended use, exports for further manufacture accounted for 59 percent of exports to MOFA's, and exports for resale without further manufacture accounted for 38 percent; most of the remaining exports were of capital equipment. Imports.—U.S. merchandise imports shipped by MOFA's in 1989, at $84.8 billion, were 91 percent of U.S. imports shipped by all foreign affiliates and 44 percent of total MNC-as*sociated imports. Most of the U.S. imports from MOFA's—$72.4 billion, or 85 percent—were shipped to U.S. parents. By area of origin, Canada accounted for 46 percent, the largest share of any major area, of imports from MOFA's. Mexico had the next largest share for D D D D 3 1,635 9.457 397 439 1,793 273 1.860 10,177 31 1,354 2,154 800 48.970 8.211 For further manufacture 57,181 2,193 35,000 37.193 For resale without further manufacture 325 225 549 Other * Less than $500,000. 1. Sec footnote 1 to table 2. D Suppressed to avoid disclosure of data of individual companies. 2. See footnote 2 to table 2. n.a. Not available. n.a. n.a. n.a. Metal manufactures Other manufactures Other „ 2,074 11.250 670 1,188 6,459 9 672 3,718 22 B.v intended use Capital equipment and other goods charged to fixed asset n.a. n.a. n.a. n.a. 13. The hourly compensation data for the United States and those for all production workers in various host countries are from U.S. Department of Labor, Bureau of Labor Statistics, International Comparisons of Hourly Compensation Costs for Production Workers in Manufacturing, 1975-39, Report 794 (Washington, DC: U.S. Government Printing Office, October 1990). penditures and associated employment by nonbank U.S. parents and their MOFA's, classified by industry. R&D Table 9 presents estimates of re- expenditures are measured in two search and development (R&D) ex- ways: (1) Those performed for a parent's or an affiliate's own benefit, either by themselves or by others on contract, Table 8.—Compensation Per Hour and Number of Production Workers of Majority-Owned and (2) those performed by the parent Foreign Affiliates in Manufacturing \ by Country and by Major Industry of Affiliate, 1989 or affiliate, either for themselves or for others on contract. Production workers Number of employees (thousands) Compensation per as a percentage of hour of production U.S. parents spent $58.9 billion on total employment workers (dollars) Production workers Total (percent) R&D for their own benefit and employed 623,000 scientists, engineers, 10.46 3,246.3 All countries, all manufacturing industries 58 1,876.5 and other technical staff in R&D acBy country tivities. MOFA's spent $7.1 billion on 271.2 16.66 60 451.0 Canada R&D for their own benefit, 11 percent 14.42 831.1 1405.1 Europe of the MNC total, and had 95,200 R&D 14.27 5.6 8.6 Austria 66 employees, 13 percent of the MNC 16.25 64 Belgium .... 50.0 78.5 16.34 61 Denmark ... 5.0 8.2 total. 15.82 63 Finland .8 1.3 15.75 53 France 102.7 193.6 By industry, manufacturing ac17.11 381.7 52 197.6 Germany, Federal Republic of . counted for the largest shares of total 6.11 3.2 6.0 53 10.43 36.7 64 23.5 Ireland .... ....... R&D expenditures for both parents' 16.72 63.2 118.4 53 I y 3.3 14.07 7.1 46 and affiliates' own benefit—86 perLuxembourg 17.58 43.4 69.0 63 Netherlands cent and 81 percent, respectively—and 2.2 1.2 55 22.47 Norway of total R&D employment—87 percent 8.4 63 13.3 5.32 Portugal 63 92.7 10.71 58.7 Spain and 83 percent, respectively. Within 68 12.9 19.54 8.8 Sweden 62 11.4 18.15 7.1 Switzerland manufacturing, parents' expenditures 55 4.50 5.1 2.8 Turkey 54 11.99 458.2 245.6 United Kingdom were largest in chemicals, in nonelec59 17.16 .3 .2 Other trical machinery, and in transporta742.2 Latin America and Other Western Hemisphere .. 453.1 3.48 tion equipment. Affiliates' expendi414.8 248.2 4.34 60 South America.... tures were largest in transportation 36.0 21.8 Argentina 3.52 60 309.6 185.0 Brazil 4.53 60 equipment and in chemicals. 8.2 5.6 4.64 69 Chile 20.2 11.6 3.92 57 Colombia U.S. MNC's spent an average of 4.4 2.9 Ecuador 1.64 66 3.1 1.8 5.66 57 Peru $15.00 on R&D for their own bene29.6 17.3 3.79 58 Venezuela 3.7 2.3 4.81 fit for every $1,000 of sales. U.S. 61 Other parents spent more per unit of sales— 316.1 Central America . 2.46 197.6 63 8.3 Costa Rica 2.64 4.9 58 $18.79 per $1,000 of sales—than their 4.6 Guatemala 2.60 2.8 61 6.8 Honduras 2.44 3.3 48 foreign affiliates—$7.03 per $1,000 of 292.0 2.44 184.1 Mexico 63 2.2 4.78 1.3 Panama 60 sales. For parents, R&D spending 2.0 2.38 1.3 62 Other per $1,000 of sales was highest in 11.4 7.4 2.42 65 Other Western Hemisphere .2 .2 4.85 manufacturing, particularly in com85 Bahamas „, .2 2.35 60 .4 Barbados . .. , puters and office equipment and in (*) 12.00 60 Bermuda 2.9 1.38 63 Dominican Republic drugs. For affiliates, R&D spending 2.8 2.27 65 4.3 Jamaica .1 5.58 60 .2 Netherlands Antilles per $1,000 of sales was highest in .5 4.93 71 .7 Trinidad and Tobago .3 1.62 58 .5 United Kingdom Islands, Caribbean . "services," particularly in research, de.2 8.22 65 .3 Other velopment, and testing services; how41.8 56 2.65 233 ever, the levels of R&D expenditures 2.8 1.44 55 i.5 £?yp. 1.4 1.02 51 .7 Nigeria were highest by far for affiliates in 18.6 4.15 51 9.4 South Africa . 19.0 1.71 61 11.7 Other manufacturing, especially in "other" 56 3.4 Middle East 11.71 6.0 transportation equipment, in house12.09 55 5.6 3.1 I j 7.97 .3 68 .2 Saudi Arabia hold audio, video, and communication 14.18 58 (*) (*) United Arab Emirates . .1 5.91 73 equipment, and in drugs. .2 Other R&D performed by U.S. parents, ei59 294.4 . \ * b and Pacific 6.14 500.1 13.02 56 I0I.9 57.3 Australia ther for themselves or for others on 1.29 54 2.9 1.6 China 2.46 71 32.3 23.1 Hong Kong contract, was $81.1 billion. R&D per1.50 35 9.9 3.5 India 1.83 57 6.6 3.8 Indonesia formed for others on contract was $24.5 38 74.1 28.1 23.27 Japan ......... 64 21.6 13.7 4.19 Korea. Republic of . billion; of that amount, $21.9 billion 68 50.8 34.6 1.79 Malaysia 57 10.2 5.8 6.83 was for the Federal Government— New Zealand 68 53.7 36.5 1.58 Philippines mostly by parents in "other" trans65 57.8 37.8 3.38 Singapore 62 44.1 27.2 4.51 Taiwan .. .. portation equipment. R&D performed 63 26.7 16.7 1.44 Thailand 63 7.4 4.7 1.99 Other by affiliates was $8.0 billion, of which $1.6 billion was performed for others By major industry on contract. 187.1 61 304.6 Food and kindred products 8.39 237.8 50 477.2 11.73 Chemicals and allied products 113.9 64 176,9 10.84 Primary and fabricated metals Sales of goods and services by 259.5 51 504.6 13.14 Machinery, except electrical 276.4 61 450.4 6.56 Electric and electronic equipment .... destination and affiliation 364.9 61 598.8 particularly in electronic components and accessories, that is in low-wage countries, such as Malaysia and Singapore, and the relatively low level of skill required for assembly work. Research and development expenditures and employment srae Transportation equipment , Other manufacturing 733.9 436.9 * Less than 50 employees. 1. These data only include affiliates whose primary industry—in terms of sales—is manufacturing. 60 12.38 9.89 In the benchmark survey, sales by nonbank U.S. parents and by MOFA's SURVEY OF CURRENT BUSINESS October 1991 39 Table 9.- -Research and Development: Expenditures of, and Employment by, Nonbank U.S. Parents and Their Majority-Owned Nonbank Foreign Affiliates, by Industry of U.S. Parent and of Foreign Affiliate, 1989 Foreign affiliates Millions of dollars R&D performed by parents .,....* *++*....„„ .......*«.*...,..+,. .......+.i Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products , Printing and publishing Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmetallic mineral products Instruments find related products •+*•••.««..*•«**+*»*.. ,*+*»»«..*».+*! Other " "",.".. Wholesale trade Durable floods .......+»*i4 Nondurable goods iit „„.„„,„„,„„ ***»***•* Services Hotels and other lodging places Business services Advertising .......*.................. Equipment rental (ex. automotive and computers) Computer processing and data preparation services Business services, n.e.c Automotive rental and leasing, without drivers Motion pictures, including televsion tape and film Health services Engineering, architectural, and surveying services Management and public relations services Other Other industries ...... Agriculture, forestry, and fishing Mining Metal mining Nonmetallic minerals Construction Transportation Communications and public utilities . Retail trade 0 24,582 8,154 16,429 9,339 233 95 201 1,142 79 149 ISO 153 6,726 (D) 698 625 73 $ 0 48,457 932 256 132 544 12,160 4,481 5,972 958 125 624 871 457 112 345 414 12,487 330 548 10,609 1,001 4.286 128 2,199 1,245 714 11,237 6,862 4.375 6,484 230 95 199 1,114 79 220 149 180 150 3,919 150 548 479 68 553 Finance (except banking), insurance, and real estate Finance except banking Insurance Real estate Holding companies, except bank holding companies 0 (D) 105 0 71,852 934 258 132 544 12,356 4,630 6.005 958 132 630 2,153 1,425 722 703 728 13,812 335 560 11,803 1,114 8,676 128 (D) 1,662 • , .< .... 0 0 1,007 0 801 0 1 748 52 0 (*) (*) 31 0 175 (D) 100 38 (°) (DD) (56 ) 3.839 45 0 0 898 0 765 0 1 713 52 0 (*) (*) 18 0 114 (D) 94 38 (DD) ( ) (D) 52 3,078 45 R&D Research and development * Less than $500,000 or 50 employees to Suppressed to avoid disclosure of data of individual companies. 1. Equals the sum of R&D performed by parents for themselves and R&D performed for the parent by others on contract. 2. Equals the sum of R&D performed by affiliates for themselves and R&D performed for the affiliate by others on contract. For others for parents ' 21,942 7 0 0 0 7 7 0 (*) 0 0 20,936 2,607 15 0 0 0 3 3 0 0 12 0 2,458 58,883 2465 33 0 33 2,135 0 2 2 (*) 0 53 37 (D) (*) 0 0 0 142 111 (p) 0 (*) (D) 871 (D) (D) (D) (°) 1,072 5 (D) 8 4,273 0 (D) (DD) ( ) 12,143 (DD) ( ) 2,435 0 (*) 2 D ( ) J) (*)o 2 2.393 0 (^) 0 7 (D) 411 (DD) ( ) P 253 0 (DD) (D) ( ) 116 0 9 (DD) ( ) 1,203 (DD) ( ) 420 3 (*) (*) D ( ) 0 0 0 0 1 414 (D) D ( ) (D) 4 0 0 0 39 0 (D) 0 0 0 J) 0 0 0 0 2 0 (D) <•) C) (*)0 0 0 0 71 0 (D) 0 0 (D) 0 0 0 0 11 J) (D5) 0 0 0 0 4 D ( ) 0 0 (D) 97 0 50,483 1.044 309 133 603 13,354 4,632 6,985 960 126 650 883 466 113 353 417 13,024 342 562 11,113 1,007 4,342 129 2,212 1,265 736 11,274 6.869 4,405 6462 233 101 208 1,126 79 241 150 181 154 3,935 155 562 491 71 18.79 6.42 3.54 0 6.54 7.96 0 1.30 0 32.68 5.40 9.28 3.59 4.91 57.53 43.48 122.57 22.45 16.22 35.90 8.51 8.16 5.25 9.92 8.93 75.02 19.60 23.32 128.62 22.06 31.64 11.21 27.89 61.77 28.35 31.45 29.05 36.09 18.96 8.46 3.78 5.95 16.20 1.58 14.64 12.13 19.03 11.51 52.13 14.95 2J0 4.69 .59 335 TYtin sport no on CQuipmcnt *. ......* Motor vehicles and equipment Other Other manufacturinE 56,532 2,211 33 0 33 2,085 For the Federal Government 555 Food and kindred products Grain mill and bakery products . Beverages Other Chemicals and allied products Industrial chemicals and synthetics . Drugs Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.e.c Primary and fabricated metals Primary metal industries Ferrous Nonferrous Fabricated metal products , Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery .... Computer and office equipment Other Electric and electronic equipment Household appliances Household audio and video, and communications equipment . Electronic components and accessories Electrical machinery, n.e.c 81,082 2,233 33 0 33 2,095 555 AH industries . Petroleum Oil and cas extraction Crude petroleum (no refining) and natural gas . Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction .... Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade Other Manufacturing themselves ooo For Total R&D per- R&D performed for parents per S 1.000 of sales (dollars) 0 0 954 0 800 0 1 747 52 0 <*) 0 0 8-56 0 22.53 0 1.00 59.12 52.00 0 .02 .01 1.97 0 7.83 IS 0 135 (°) (°) 94 61.48 38 (DD) ( ) (D) 52 3.277 45 5.19 (°) (DD) ( ).47 17.65 2" R&D performed by affiliates R&D R&D perormed for affiliates For themselves foraffiliates' $1,000 of sales (dollars) Millions of dollars R&D employees (thousands) Total 623.0 233 (D) J) 17.2 17.1 0 .1 (D) 0 542.1 10.8 2.5 2.7 5.6 93.6 37.0 41.3 7.5 1.2 6.6 17.6 7.6 4.0 3.6 9.9 110.6 3.7 7.0 88.3 11.6 63.4 6.1 31.1 15.4 10.8 156.5 17.4 139.1 89.7 1.4 4.5 3.0 10.2 1.1 8.2 2.7 1.3 1.6 53.9 1.8 7.9 7.0 .9 .1 0 0 12.6 0 9.3 0 (*) 8.8 0 C) (*) 0 3.1 (P) 1.1 .6 A D .1 ( ) 29.6 1.1 8,021 141 (D) 18 (D) For others 6374 103 19 18 1 8D 8D ( ) (C)) i (D) (*) l (D) 6313 187 74 (D) 5,157 (°) 1,642 386 985 141 13 118 74 14 7 8 60 1,644 62 49 1,353 180 748 57 422 (D) 1,458 (DD) ( ) 760 26 24 6 66 Q3 61 14 30 352 (D) 598 433 166 1 1 C) (*) C) 679 185 72 (°) (D) 1,451 258 927 139 12 115 71 14 7 7 57 714 58 49 436 172 647 56 (°) 340 1,379 (DD) ( ) 710 26 24 6 61 3 (D) 54 12 29 317 (D) 542 382 160 1 1 (*) (*) (*) 498 C) 45 (*) 1 36 7 (*) C) (*] 62 1 1 42 18 3 24 & 88 2 6 6 (*) (Dl (*: (D' (3 73 2 6 6 (•' (O (* (D 16 7.03 .94 1.02 1.08 .37 7,133 169 37 36 1,647 3S (D) (*) /D\ (D) 0 (*) 0 1356 3 1 (*) 1 190 128 58 1 1 3 3 1 (•) 1 3 930 5 (*) 917 8 101 1 (*) 83 16 79 (DD) ( ) 50 C) (*) (*) 4 (*) C) 7 1 1 35 C) S6 51 5 0 0 0 0 0 181 f)D 8D (C)) ( ) 1 (D) 5,775 2.64 (D) .01 11.45 191 73 3.81 4.77 (°) (D) 1,576 267 996 183 15 115 72 14 7 8 58 781 94 62 442 184 658 56 (D) 349 (D) 1,745 (DD) ( ) 751 26 24 7 67 3 (D) 60 15 33 332 (D) 577 397 180 1 1 (*) (*) (*) 537 17 C) (*) 6 11 (*) 1 (*) 20 72 (*. 8 e 15 0 0 0 0 (• i 63 8 (.*. (*: 74 ; (D 6 D ( <° (16D 8 R&D ployees (thousands) 95.2 l.d .1 .1 (*) (D) (*) (D) (*) 78.' .1 IA 1. 2X 16.65 6.57 43.12 9.67 7.91 11.40 3.45 2.46 5.91 1.78 3.82 8.03 17.41 6.41 6.93 9.99 17.65 10.96 (D) 16.75 (D) 15.26 (DD) ( ) 8.35 2.51 4.52 2.70 3.82 .85 (D) 8.83 4.59 7.57 14.39 (°)2.83 2.96 2.57 .02 .04 0 .03 1.00 16.02 .11 4.19 .If 1.12 7.33 1.71 ,\i .89 .07 1.48 8 1.72 1.26 tD) 1.99 (DD) ( ) .03 .66 18/ 5.^ 9.( 2.( 2. 1. 16. 1. 1L 2. 8. l". 5. 1. 20. /D\ 10. 1." (D) 5 (D) 6. 5 1 333 U.S. parents 0 (•) 6 (*) (*] (*) C) (*) ( 5 (D) i (*) (•) (*) (•) 40 were disaggregated by destination, by affiliation of customer, and by whether the sales were of goods, services, or investment income. U.S. parents.—Total sales by U.S. parents were $3,134 billion in 1989 (table 10). Sales of goods accounted for $2,213 billion or 71 percent, sales of services accounted for $798 billion or 26 percent, and investment income accounted for $123 billion or 3 percent.14 Of total sales of goods by U.S. parents, 88 percent were to U.S. persons and 12 percent were to foreigners. Over one-half of the sales to foreigners were to unaffiliated persons. Of total sales of services, 94 percent were to U.S. persons, and 6 percent were to foreigners. Over one-half of the sales to foreigners were to foreign affiliates. By industry, sales of services were largest in "other industries,", particularly in communications and public utilities and in transportation, and they were next largest in finance (Except banking), insurance, and real estate (FIRE). They were also sizable in manufacturing—especially in motor vehicles and computer manufacturing—and in "services." MOFA's.—Total MOFA sales were $1,015 billion (tables 11-12). Sales of goods accounted for the largest share— 87 percent, or $887 billion. Sales of services accounted for 11 percent, or $110 billion. Investment income accounted for 2 percent, or $18 billion. Most of the sales of both goods and services were to unaffiliated foreign persons in the affiliate's country of location. These sales reflect the fact that U.S. parents have invested abroad mainly to sell goods and services through affiliates to unaffiliated customers in local markets.15 By industry, sales of goods were largest—at $490 billion—in manufacturing. Within manufacturing, sales were largest in transportation equipment and in chemicals. Sales were also sizable in wholesale trade, particularly in durable goods. By area, affiliates in Europe accounted for over one-half, or $505 14. To provide more accurate data on sales of services, information on investment income of U.S. parents and MOFA's infinanceand insurance was collected separately from sales of services for the first time in the 1989 benchmark survey. Finance and insurance companies include investment income in sales because it is generated by a primary activity of the company. In most other industries, investment income is considered an incidental revenue source and included in the income statement in a separate "other income" category. 15. An unaffiliated customer of a MOFA is a customer other than the MOFA's U.S. parent or another foreign affiliate of the parent. SURVEY OF CURRENT BUSINESS October 1991 billion, of the total sales of goods. Within Europe, sales by affiliates in the United Kingdom were particularly large—at $141 billion. Outside Europe, sales were largest in Canada—at $151 billion—and in Japan—at $48 billion. By industry, sales of services were largest—at $33 billion—in FIRE; insurance affiliates accounted for about two-thirds of the total. Sales of services were next largest—$32 billion—in "services"; business services accounted for about one-half of the total, and most of these sales were by affiliates in computer processing and data preparation services. Sales were also sizable in computer and office equipment manufacturing, where affiliates provided services associated with the use and maintenance of equipment that they manufactured. By area, affiliates in Europe accounted for over one-half, or $58 billion, of total sales of services. Within Europe, sales in the United Kingdom were particularly large—at $21 billion. Outside Europe, sales were largest in Canada—at $17 billion—and in Japan—at $10 billion. By destination, 69 percent of total sales by MOFA's were to customers in the affiliates' own countries of location, 20 percent were to customers in other foreign countries, and 11 percent were to customers in the United States. Sales to customers in other foreign countries accounted for over onehalf of total sales by MOFA's in several European countries—Switzerland, Netherlands, Belgium, and Ireland— and for about one-third of total sales by MOFA's in several Asian countries— Hong Kong, Indonesia, and Singapore. In the European countries, most of the sales to other foreign countries were by manufacturing affiliates to other European countries. Most of the total sales to other foreign countries were to other foreign affiliates. In several industries and countries, sales to the United States accounted for a relatively large share of the total. They accounted for about 25 percent of total sales in two extractive industries—crude petroleum and Text continues on p. 45. Table 10.—Sales of Goods and Services by Nonbank U.S. Parents and Foreign Affiliates, 1988-89 Services as a per* centage of total Millions of dollars 1983 Total Goods 1985 Services and investment income 2 Total Goods i Services Invest* ment income 1989 U.S. parents All nonbank parents of nonbank affiliates To U.S. persons To foreign persons To foreign affiliates To other foreign persons 2,828,209 n.a. n.a. n.a. n.a. 2,017.410 n.a. n.a. n.a. n.a. f 810.799 791.519 19,280 4,343 14,937 3,133,588 2,805,398 328,189 154,792 173.397 2,212,586 1,947,863 264,723 116,996 147,727 798,156 749,439 48,717 28,255 20.462 122,845 108,096 14.749 9,541 5,208 25.5 26.7 14.8 18.3 11.8 Foreign affiliates 1,194,733 n.a. n.a. 1,266.285 n.a. n.a. n.a. n.a. 927,886 226,618 701,268 . 816,597 202,584 614.013 111.289 24,033 87,255 1,015,263 241,839 773,424 887,010 214,810 672.170 110,486 21,995 88,491 17,767 5,004 12,763 10.9 9.1 11.4 To the United States To U.S. parents To unaffiliated U.S. persons tt 101.444 82,216 90,969 74,159 10,475 8,057 111,338 91.831 97,228 82,671 10.782 6,724 3,328 2,435 9J 7.3 19,228 16,810 2,418 19,507 14,556 4,058 893 20.8 To foreign countries To other foreign affiliates . To unaffiliated foreign persons 826,442 144,401 725.629 128,426 100,813 15,977 903,925 150.008 789,783 132,169 99,704 15.271 14,439 2,569 11.0 10.2 All nonbank affiliates of nonbank parents Majority-owned affiliates To affiliated persons To unaffiliated persons 682,041 597,203 84,837 753,917 657,614 84,433 11,870 11.2 Local sales To other foreign affiliates ...... To unaffiliated foreign persons • 606,312 520,834 85,478 697,711 599,526 85,823 12,362 12.3 30,938 24,149 6,790 40,670 32,629 6,651 1,390 16.4 575,374 496,685 78,688 657,041 566.896 79,172 10,972 12.0 Sales to other countries To other foreign affiliates ... To unaffiliated foreign persons 220,130 204.795 15.335 206,214 190,257 13,881 2,076 6.7 113,463 104,277 9,187 109.339 99,540 8,620 1,179 7.9 106,667 100,518 6,149 96,876 90.717 5,261 898 5.4 266,847 n.a. n.a. 251,022 n.a. n.a. n.a. n.a. Minority-owned affiliates n.a. Not available. 1. See footnote 1 to table 1. 2. To provide more accurate data on sales of services, information on investment income of U.S. parents and MOFA's in finance and insurance was collected separately from sales of services for the first time in the 1989 benchmark survey. Finance and insurance companies include investment income in sales because it is generated by a primary activity of the company. In most other industries, investment income is considered an incidental revenue source and included in the income statement in a separate "other income" category. SURVEY OF CURRENT BUSINESS October 1991 41 Table 11.—Sales of Goods and Services by Majority-Owned Nonbank Foreign Affiliates, Industry of Affiliate by Destination, 1989 [Millions of dollars] Investment income Total sales To U.S. persons To foreign persons To U.S. persons From foreign persons U.S. persons 110,486 10,782 99,704 17,767 3328 1,435 181 & 5,960 1 48 1.118 560 2.045 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 489,679 10,182 1 66377 <) 374 54,759 3.102 7395 2,986 337 2.650 636 277 357 2 609 3.163 423302 14314 1,775 12^39 563 (*) 49,724 15,091 9335 25,097 1,040 222 140 677 48,684 14,869 9,395 24,420 200 14 48 138 7 (*) 0 7 194 14 48 132 189 189 0 0 (*) (•) 0 0 382 309 27 12 2 33 20 6 14 0 0 (*) 362 302 13 12 2 33 0 0 0 0 0 0 0 0 0 0 0 0 110 C) 0 (*) 110 0 0 0 0 0 0 0 0 0 0 364 0 0 364 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 903,925 887,010 21,902 9.002 8,870 132 1,550 157,961 27,095 24,522 2374 70,400 172,468 33,111 33,055 57 71,314 29.732 41,205 377 64,941 3.103 Manufacturing . H From Total 152,001 24^90 D ) () 69,851 111338 179363 36,098 33.392 2,706 71,950 30,008 41,563 379 65,550 6,266 8 To U.S. Total To foreign persons 789,783 97,225 1,015,263 Petroleum Oil and gas extraction ., Crude petroleum (no refining) and natural gas .. Oil and gas field services Petroleum and coal products manufacturing ......... Integrated petroleum refining and extraction .... Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade Other All industries To fortign persons 8 1,463 H D 2,805 D ) 8806 271 277 504,556 10.231 1,119 68,153 Food and kindred products Grain mill and bakery products Beverages . . . . . ... Other Z ". 50,113 15,294 9,583 25,236 1,047 223 140 684 375 55.319 5,147 436,404 49.066 15,071 9,443 24,552 Chemicals and allied products Industrial chemicals and synthetics . Drugs Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.e.c 94,654 40,651 23,100 18,918 1,897 10,089 3,877 2,534 633 48 107 556 90,777 38,116 22,468 18,870 1,790 9332 94,272 40,342 23.074 18,906 1,895 10,055 3,857 2,528 619 48 107 556 90.415 37.814 22,455 18,858 1,788 9,499 Primary and fabricated metals Primary metal industries 20,880 5.686 1.184 4,502 15,194 2,130 18,750 4,652 1,104 3,548 2,126 18,640 4,652 1,104 3,548 14,098 20,765 5,686 1,184 4302 15.080 Machinery, except electrical ... Farm and garden machinery Construction, mining, and materials handling machinery . Computer and office equipment Other 97,290 5398 9,666 63.800 18.426 18.517 1,194 1.285 14,654 1.384 78,773 4,204 8381 49,145 17.043 (> 5,398 9,585 () (°) 18310 Electric and electron!" equipment J Household appliances Household audio and video, and communications equipment , Electronic components and accessories Electrical machinery, n.e.c 37.281 5,111 3,707 20,831 7,632 6.946 561 658 5,067 661 30,335 4350 3,050 15,764 6,971 5,016 3.697 (DD) 114,380 27,994 111,170 3,210 26,922 1,072 86,386 84,248 2,138 113.846 110,905 2,940 27,855 26.895 959 85.991 84,010 1,981 534 264 270 140 27 113 395 238 157 (*) (*) 0 0 0 0 89.958 10368 5,314 2,588 17,558 3,528 9,089 6,797 3,265 4,357 23,071 4,024 7,641 202 1,034 345 2,692 130 585 164 181 249 1,796 264 82,317 88.724 10,368 5,310 2.588 17319 3318 9,018 6.763 3.256 4,345 7.603 202 1,034 345 81,121 1.225 0 4 0 39 10 71 34 0 12 1,044 12 39 0 0 0 13 0 0 9 0 .0 17 (*) 1,186 0 4 0 26 10 71 25 0 12 1,027 11 10 0 0 0 0 0 0 0 9 1 22,027 4.013 2,679 130 585 155 181 249 1,779 264 10,166 4,276 2,243 14,840 3388 8,433 6.608 3,075 4,096 20,248 3,749 0 0 0 0 0 0 0 0 0 0 0 0 204,145 134,116 70,030 8,982 6,968 2,014 195,163 127,148 68,015 189,101 119,309 69,792 8,757 6,761 1,997 180344 112,548 67,795 14,706 14,474 232 225 207 18 14,481 14,267 214 338 Finance (except banking), insurance, and real estate . Finance, except banking . Insurance Real estate Holding companies, except bank holding companies . 50,242 24,118 24,763 1,147 214 7,166 3,545 3,540 ,50 43,076 32,700 10,741 20.289 3339 838 2,926 28^61 9,904 17,364 1,067 527 Services ., Hotels and other lodging places Business services Advertising Equipment rental (ex. automotive and computers) Computer processing and data preparation services ... Business services, n.e.c „,... Automotive rental and leasing, without drivers ...„....„„. Motion pictures, including televsion tape and film Health services Engineering, architectural, and surveying services Management and public relations services Other . 33,515 2,212 17,189 3,017 890 8,596 4,686 1,179 2,251 715 3388 2.893 3,688 Other industries Agriculture, forestry, and fishing Mining Metal mining Nonmetallic minerals Construction Transportation Communications and public utilities Retail trade 42,942 1,592 4,146 3,013 1,133 4307 4,971 3.671 24,256 Nonfcrrous Fabricated metal products Transportation equipment Motor vehicles and equipment .... Other Other manufacturing .., Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures ........ Paper and allied products Printing and publishing , Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmctallic mineral products ., Instruments and related products Other Wholesale trade Durable goods Nondurable goods • Less than $500,000. Suppressed to avoid disclosure of data of individual companies. D 1.034 80 954 1.096 8 10,166 4,281 2,243 14,866 3,398 8,504 6,633 3,084 4,108 21,274 3,760 608 9 165 8.431 0 2 (*) 73 502 507 3313 450 955 767 187 44 1333 282 49 954 1,092 13.988 (°) 1.179 2,249 715 3.315 2390 3,181 39,629 1,142 3,192 2,246 946 4.262 3,437 3.390 24,206 ,13 , 1,194 8301 1,382 (D) 16.928 t) 20373 21.222 (D) 31,693 2,083 16,580 3,008 (°) (°) () 1,034 80 4 0 0 0 4 ( i () 24 o o 41 11 236 33,661 1388 4,083 2,952 1.131 4,177 c 23,800 5 32,090 2,211 16,079 2.965 1 0 (*) 2 26 1,498 450 955 768 187 43 1 <> 350 D 210 32,163 1,138 3.128 2,185 944 4.135 23,750 (°) 8,222 (D) 1,160 2.245 715 3,347 2,882 3.451 8 1 ' 11 508 A 141 ° 500 481 7,466 4 63 6, 9,281 4 63 61 129 4,963 3.666 456 30398 2,082 15371 2.961 452 8.081 4,078 1,160 2.243 715 3,2* 2,382 2,970 1332 282 c: 128 3,43 3,385 456 0 0 332 6 0 0 0 13361 (D) <> 2,707 614 2 8 SURVEY OF CURRENT BUSINESS 42 October 1991 Table 12.—Sales of Goods and Services by Majority-Owned Nonbank Foreign Affiliates, Country of Affiliate by Destination, 1989 {Millions of dollars] Total Canada ....... Denmark ...... Ireland Italy . .... Luxembourg . .. Netherlands Portugal ...... . .... . ..... . ...... Spain Sweden ... .. . . Turkey United Kingdom Other •• •• .......... . . . . .... . . . . . . . Latin America and Other Western HetnisDhere Argentina Brazil Chile Colombia Peru ...... * « ..... Venezuela Other Central America Costa Rica . ....... .. .... ...... Panama Other ...... ••• . ...... ..... Dominican Republic .. Netherlands Antilles .... ........ Trinidad and Tobago ..... United Kingdom Islands Caribbean Other .. ..... .......... ...... ........ ,. . ....... ... Asia and Pacific Australia ...". China Hong Kong India Indonesia .... Japan Korea Republic of Malaysia ........ New Zealand Philippines ...... ....... ..... ..... ...... ... ..... ...... . ... International' Addenda: Eastern Europe 1 Euro Dean Communities (121' OPEC 4 ... ....... ... ..... * Less than $500,000 Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to table 2. 2. See footnote 3 to table 4. 3. Sec footnote 2 to table 2. 4. See footnote 5 to table 4. D ..... To U.S. persons Total To foreign persons Investment income Total ToU.S. persons To foreign persons Total From U.S. persons From foreign persons 1,015,263 111338 903,925 887,010 97328 789,783 110,486 10,782 99,704 17,767 3328 14,439 172,134 39,145 132,989 151306 38,454 112,753 17,126 680 16,446 3302 12 3,790 570,835 27,939 542^96 505325 23394 481331 57374 3,676 53,899 8,036 869 7,167 5,514 29,113 4,109 2,961 70,852 81 1008 174 5.433 28,105 3,935 35 U938 68,914 4,869 26,410 3,221 2,574 63,314 105,972 1.935 11,355 45,502 1,448 44,391 2,585 24 725 2,836 103,387 1,910 10,631 42,667 2,334 V) 42,056 7,604 3,264 23,599 7,635 36,402 1,696 166,979 504 803 6,795 786 (D) 2.909 39 10,867 9 22,813 87^23 46,145 3,948 30,377 2,013 3,912 578 1,122 2,762 1,433 22 2,739 21,439 759 679 1,159 16,476 1,876 491 4,892 79 16,547 680 4,264 354 8 ( ) 12,212 1322 491 19,939 1,529 720 11,484 578 1,138 2,719 652 716 404 10,026 124 334 6,314 226 313 1 938 9,914 1,406 386 5,170 351 825 781 11,630 1 881 2,257 2,692 4,799 3307 8,422 1,350 15 7,806 1,013 3,408 1,541 1,844 97.800 1,816 10,954 41,702 1,377 36.665 33.493 1.657 156,112 495 7,002 2,983 21,739 6,516 33.304 1.541 140.978 462 18^66 69,257 73328 3 349 149 2 158 42,796 3,799 28319 1 891 3^38 384 42,737 3.255 28,548 1787 3.652 528 1,065 2,486 1,415 122 375 194 (D) 'a D 20.305 746 667 1,145 15,613 1,653 480 10,186 1,102 347 6,259 52 599 179 356 894 25316 D 1,634 (D) () 61.680 2,123 24 95.677 1,792 610 2.558 827 365 7,407 2,732 38,969 7,206 119 385 3.552 2,018 34,646 7,188 5 360 302 7,105 131 455 276 6,752 119 (D) 3,449 (D) 6,913 966 0 15 249 31 538 7 0 0 0 3 40 958 0 15 249 23 497 2 20 272 1341 8 7 300 277 2 1,993 2.584 18.776 237 0 5332 0 0 0 0 0 18 0 790 0 8 7 300 58 219 0 4,442 0 2379 7,183 4334 2365 2,168 470 (*) (*) 0 470 194 162 48 113 \) 103 41 766 8 20,973 2,613 37 8,084 30,691 1304 132.894 13322 59,906 141 122 369 186 19 79 3,115 1.665 3,284 342 2467 (D) 11,366 749 215 10 11 480 4,934 153 490 178 0 0 56 271 18 1 1 0 0 0 0 0 0 13 12 125 0 0 4 0 0 {*) 16 11 2 0 733 114 8 1 0 4 0 122 0 0 2 114 5 1 3.938 50 76 1,441 (*) 0 2,173 8 191 0 2,361 8 70 390 0 0 1,760 0 133 0 1377 41 6 1.051 (*) 0 414 8 57 0 0 0 10 3,402 8 1,357 845 18770 8 2,427 7 571 216 70 32 253 5 0 0 0 5 35 7 0 28 0 52 493 (P) 347 48 316 45 3300 7,846 578 217 908 2,677 1,350 15 838 2,645 70 32 259 1,639 92 6,167 921 6,620 666 1,629 90 4,991 576 1,151 340 889 652 1,404 889 515 109 P) 1,141 338 471 109 224 160,408 37,255 252 15,503 323 6,109 58,083 2,451 5,595 3,212 2,921 15,524 6.664 5,473 1,043 18,656 1 404 1 3,451 141,752 35,850 250 12,052 17328 1.325 1 3,356 122,450 31,615 212 9325 810 3,285 439 834 93 283 5,408 1785 824 5,299 54,798 2,012 4,761 3,120 2,638 10,115 4.879 4,649 139,678 32,940 213 12,881 293 5,953 47,735 2,185 5,322 2,786 2,589 14,708 5,961 5,143 970 808 2,234 5,145 45301 19376 3,700 39 2,604 30 156 9,757 261 272 394 297 814 649 330 73 1347 72 0 95 3 2 977 18,029 3.628 39 2309 28 154 8,780 74 391 740 1 0 4,927 2,484 2,442 508,519 17.051 1 23,420 3,316 485,099 13,735 90 J 59 22 129 64 1 0 1,692 0 145 190 40 11,046 1,665 2.187 2,660 4335 (D) 194 162 48 2,413 5.815 377 297 3.784 /D\ 0 6 8 0 3 0 18 8 (*) 8 498 1,667 178 196 49 56 275 1,009 13 12 5351 8 (D) 8 8 9,762 2,444 58 2,938 D ( ) 4,248 594 274 1,560 1,061 2,861 155 20,769. 42 35 146 61 22 0 1 2 0 2 ( ? 10 2 H 64 i 1 1 0 5 0 0 0 5 0 0 0 35 7 0 28 0 329 73 1354 615 0 19 0 (*) 591 5 (*) 33 35 2 53 (*) 0 81 7 0 (*) 0 0 74 0 0 0 0 0 0 0 0 1373 608 0 19 0 (*) 517 5 C) 33 35 2 53 (*) 0 8 ©o .. Saudi Arabia .... . ........ United Arab Emirates .. Other ... . To foreign persons ooo Africa Egypt , Nigeria South Africa Other Taiwan Thailand Other . + Other Western Hemisphere Bahamas ...... Barbados Middle East Israel ..... To U.S. peisons Services Goods Total sales 5,335 9,373 823 4,320 7 1 6 4,920 2,484 2,436 0 0 0 448.957 15,650 1 19,266 3.298 429.692 12,352 51,886 1,371 0 3,304 18 48382 1.353 0 7,675 30 0 851 0 0 6,825 30 43 SURVEY OF CURRENT BUSINESS October 1991 Table 13.—Sales by Nonbank U.S. Parents, Industry of U.S. Parent by Industry of Sales, 1989 [Millions of dollars] Industry of U.S. parent1 All industries .... Petroleum Oil and gas extraction Crude petroleum (no refining) and natural gas .. Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade Other Manufacturing Food and kindred products Grain mill and bakery products , Beverages Other .... Chemicals and allied products Industrial chemicals and synthetics Drugs Soap, cleaners, and toilet goods Agricultural chemicals ... Chemical products, n.e.c Primary and fabricated metals Primary metal industries Ferrous ................. Nonfcrrous Fabricated metal products Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery Computer and office equipment ........... Other Electric and electronic equipment Household appliances Household audio and video, and communications equipment Electronic components and accessories Electrical machinery, n.c.c Transportation equipment Motor vehicles and equipment Other Other manufacturing Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products .. Printing and publishing ..:.. Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmetallic mineral products Instruments and related products Other Wholesale trade Durable goods • Nondurable goods Finance (except banking), insurance, and real estate Finance, except banking , Insurance Real estate Holding companies, except bank holding companies Services Hotels and other lodging places Business services Advertising Equipment rental (ex. automotive and computers) .. Computer processing and data preparation services Husincss servicest n+c.c ..**+•»•-> •ni,,.4l, „ Automotive rental and leasing, without drivers Motion pictures, including televsion tape and film Health services Engineering, architectural, and surveying services , Management and public relations services , Other " , Other industries Agriculture, forestry, and fishing Mining H,H Metal mining Nonmetallic minerals Construction m+ tt ^+ ................ Transportation Communications and public utilities Retail trade Food Chemi- Primary and kin- cals and and fabdred ricated allied products products metals TransDoruttion equipment 530,541 13,911 2,241 3,133,588 313,863 352,727 275,827 9.312 5.408 4,267 3,089 5,045 2,320 268,330 220,069 262,445 215,732 1,544,658 193.234 33.306 37,068 122,860 232,139 106,523 56,989 42.754 7.769 18,104 103,806 57.128 21,539 35,589 46,678 173,599 17,445 24,102 86,402 45,649 137,246 11.503 358,523 236,482 122,041 346.112 27.527 26.699 34,942 69,521 49,845 16,463 12,363 9,513 13.385 75,483 10369 224,508 104,733 119.775 376,418 77,380 296,916 2,122 0 111,447 10,807 35,502 4,742 8 6.910 1,298,967 158.159 28.761 30,379 99.019 198,049 85,374 52,553 38.221 5,026 16,875 84,106 45.491 17,284 28,207 38.615 142,982 12,940 21.372 66,945 41,725 110,531 11,062 292.988 21,384 25,598 30,468 59,999 38,427 14,302 11.775 8.452 10,969 62,223 9.391 25,992 9,083 16.908 8,669 0 0 8,657 11,997 16,103 9,128 2,013 17,238 523,829 1,529 7,327 4,788 2.539 20,997 110.522 185,630 197,824 * Less than $500,000. D Suppressed to avoid disclosure of data of individual companies. 1. "Industry of U.S. parent*' is the industry in which the parent's sales were largest 2. "Industry of sales" is the industry of the goods or services being sold. 3. In the breakdown of U.S. parents' sales by industry of sales, only the eight largest categories had to be specified. If a given parent had sales in more than eight industries, the distribution of its sales in the specified industries would have covered less than 100 percent of its total sales. Sales in all unspecified industries combined are shown in this column. Finance (except banking), insurance, and real estate 156,402 73,469 40,539 24,390 4.154 13,850 64.263 36.874 14,494 22.381 27388 3.788 409 570 121,517 9,082 17,518 61,271 33.646 10,042 n 256,269 20,048 24,100 27,880 55,946 37,107 12.115 9,036 7.657 10,686 42,581 9,114 354,11 72.200 279,868 2,048 0 10,522 15,135 6,454 6,551 15.976 7,088 1.986 16,390 8310 457,377 1365 5.000 3,626 1,374 16305 107,69 159.860 167,15 44 SURVEY OF CURRENT BUSINESS October 1991 Table 14.—Sales by Majority-Owned Nonbank Foreign Affiliates, Industry of Affiliate by Industry of Sales, 1989 [Millions of dollars] Industry of sales 2 Sales Manufacturing Industry of foreign affiliate * All industries Petroleum , Oil and gas extraction Crude petroleum (no refining) and natural gas .... Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade Other Manufacturing ........ Food and kindred products Grain mill and bakery products .. Beverages Other Chemicals and allied products Industrial chemicals and synthetics D g Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.e.c Primary and fabricated metals Primary metal industries Ferrous ~ ....... Nonferrous Fabricated metal products .... Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery . Computer and office equipment Other Electric and electronic equipment , Household appliances Household audio and video, and communications equipment . Electronic components and accessories Electrical machinery, n.e.c , .,„ Transportation equipment Motor vehicles and equipment ....„ Other Other manufacturing Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products Printing and publishing Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmctallic mineral products . Instruments and related products Other ,..„ Wholesale trade Durable goods Nondurable goods Finance (except banking), insurance, and real estate . Finance, except banking Insurance Real estate Holding companies, except bank holding companies ... Services Hotels and other lodging places Business services .'.... Advertising , Equipment rental (ex. automotive and computers) ... Computer processing and data preparation services ., Business services, n.e.c Automotive rental and leasing, without drivers , Motion pictures, including televsion tape and film Health services , Engineering, architectural, and surveying services Management and public relations services Other Other industries Agriculture, forestry, and fishing , Mining , Metal mining Nonmetallic minerals Construction Transportation Communications and public utilities Retail trade „ All indus- Petroleum tries 1,015,263 179,863 36.098 33,392 2,706 71,950 30,008 41463 379 65450 6,266 504456 50,113 15,294 9,583 25,236 94.654 40,651 23,100 18,918 1.897 10.089 20,880 5,686 1,184 4,502 15.194 97,290 5,398 9,666 63,800 18,426 37,281 5.111 3.707 20.831 7,632 114,380 111,170 3,210 89.958 10.368 5.314 2488 17458 3428 9,089 6,797 3,265 4,357 23.071 4,024 204,145 134,116 70,030 50,242 24,118 24,763 1,147 214 33415 2,212 17,189 3.017 890 8496 4,686 1,179 2,251 715 3.388 2.893 3,688 42,942 1,592 4,146 3,013 1,133 4.307 4,971 3.671 24,256 178,487 177423 35,936 33,288 2,649 70,688 29,032 41,373 283 64,808 6,091 527 0 0 0 0 457 427 1 (D 0 D ( ) (D) 0 0 0 (D) 41 0 32 0 9 0 0 0 0 0 0 0 0 (D) 0 0 0 0 0 0 6 0 0 0 (D) (D) 60 (D) 1 1 0 0 (*) 0 0 0 0 0 0 0 0 0 0 0 0 0 (D) 0 0 0 0 0 16 0 (°) Finance (except bankFood Chemi- Primary Machin- Electric WholeTransing), in- Services Other and and kin- cals and and fab- ery, ex- electron- portation manu- sale trade surance, dred cept ic equip- equip* facturing allied ricated and real mem products products metals electrical ment estate Total 472390 (DD) ( 0 (& $ 66 0 462,182 48,081 14,331 9.511 24,239 91,187 38,409 22.635 18,425 8 20,200 5,441 1,116 4.325 14,759 83,007 4,595 9,064 51,258 18,090 35.152 4,863 3.606 19,533 7,150 98,575 95,662 2,913 85.979 10.357 5.200 2.496 16,703 3,490 8,667 6,649 3,199 4,211 21.232 3,776 7,788 4.424 3.365 (D) 0 0 0 (D) 422 0 254 el (D00) 0 () 0 D () (DD) ( ) 86 D 8 7 tD\ * Less than $500,000. D Suppressed to avoid disclosure of data of individual companies. 1. "Industry of foreign affiliate" is the industry in which the affiliate's sales were largest. 2. "Industry of sales" is the industry of the goods or services being sold. 3. In the breakdown of affiliates' sales by industry of sales, only the five largest categories had to be specified. If a given affiliate had sales in more than five industries, the distribution of its sales in the specified industries would have covered less than 100 percent of its total sales. Sales in all unspecified industries combined are shown in this column. 49,640 0 0 0 0 0 0 0 0 0 0 47,905 46,758 (D) (D) 23,824 982 (D) 545 333 (D) (D) (D) 0 0 0 •D\ (D) 0 0 0 () 0 0 0 0 0 0 0 0 (D) 0 0 0 (D) 0 0 0 0 0 (D) D ( ) 1,692 5 1,687 0 0 0 0 0 (D) D o (D) (D0) 0 0 0 0 0 0 0 0 D ( ) (D) 0 0 0 0 0 0 0 90,208 (D) 0 0 0 D (D) (D) (D) () (D) 0 88,016 279 6 5 267 85,151 35,787 21,720 16,346 1,757 9,542 307 (D) 0 (DD) ( ) (D) 0 (D) 0 5 D <D ) ( ) 0 4 (D) 0 0 0 2,170 0 (D) 2 766 21,499 0 0 0 0 0 0 0 0 0 0 21302 (D) 0 3 (D) 1,119 (D) 80 2 18.764 5.350 1.084 4,266 13,414 283 13 151 4 115 202 0 3 (DD) ( ) (D) 572 (D) 331 0 85,636 24 (D) 0 (D) (*) 0 0 (*) (D) 0 83,675 (*) 0 0 (*) 163 (D) 0 1 2 D ( ) 280 28 24 4 35,935 0 0 0 0 0 0 0 0 0 0 35382 (DD) ( ) 0 (D) 231 178 80 157 39 1 38 118 376 0 0 0 0 0 0 0 0 0 0 252 81.902 4,582 8,896 50,685 17,740 349 (DD) ( ) 139 146 817 801 16 163 0 (D) 4 32 0 D ( ) 13 0 0 75 4 (DD) ( ) 0 0 0 0 0 0 85 0 28 0 4 24 0 0 0 0 0 0 57 (D) (t>) (D) (D) 0 0 1 0 1 0 0 (D) (D) 0 (D) 0 (D) (D) o0 0 0 (D) 1 (D) 536 (D) (D) 318 4 1,091 69 1,022 2 0 0 0 2 3 0 2 0 2 0 0 0 0 0 1 8 0 0 0 0 {D) 0 0 0 80 166 (D) 69 177 (DD) ( ) 0 0 0 0 0 (D) 0 (D) o (°)0 0 (D) (°) 33,373 4,704 3.517 18,979 6,172 426 425 1 (D) 0 98342 0 0 0 0 0 0 0 0 0 0 96377 0 0 0 0 0 0 0 0 0 0 D ( ) 0 0 0 (D) (D) 0 0 0 D ( ) 98 (D) 17 33 (D) (*) 0 58 0 96,410 93,626 2.784 12 0 0 0 0 0 4 (D) 0 8i 0 1 ( ) (P) (D) 0 0 0 0 0 141 0 (D) 0 0 0 (D) 0 0 0 0 0 D ( ) o 2 (*) D 1,703 1,703 0 (P) 0 0 0 (D) (D) 0 0 0 0 0 0 0 0 0 0 0 D ( ) 0 0 0 0 0 0 0 0 0 91,130 (D) 0 0 DO 0 D0 0 0 89325 D () o 8 3.540 1,407 310 1456 89 178 671 (D) 7 (DD) ( ) 397 DO 206,651 351 44 0 44 0 0 0 0 307 0 24,156 1.398 662 (D) ( ) 2.778 1,717 432 447 (D) (D) 389 177 (D) (D) 211 1,884 803 (D) 173 (°) 212 (DD) 856 ( ) (D) D ( ) (P) 3.995 20.308 (D) 1,618 1,113 506 0 0 0 0 0 101 0 49 69 (D) JD\ D ( ) (P) /D\ 1 (D) 0 (DD) () 0 (D) 0 0 (*) 0 (*) 0 0 (D) 82 0 0 0 0 0 0 0 0 0 0 0 0 (D) 0 0 (D) 0 1 0 0 0 9 9 0 (D) 0 0 0 u (DD) () (t>) 431 0 7 0 333 0 111 D 0 () 1 39 0 396 (D) 146 394 181,464 115,266 (D) 66,198 5 48,935 (D) 24,063 0 23,552 1,147 0 173 (D) 617 50 1 0 560 (D) 0 8 i(D) i 0 0 0 (D) 0 D () (°)0 1 (D) 708 (D) 238 (D) 82,417 10,357 4,911 2,481 15,682 3,489 8,512 6,008 50409 o 0 (*) 0 (DD) ( ) 5S (P) 0 0 0 (D) 0 0 (D) (*) (D) 6 (*) o (D9) D ( ) 0 0 0 0 0 0 1 D ( ) 59402 247 (°) ((DD )) 119 (D) (D) 2 (D) 1 13,168 106 2 (D) 67 (D) /D) /D\ Other specified indus- by in-3 dustry tries 43,674 613 (D) 0 (DD) (D) ( ) 0 (D) 174 1,432 215 (P) /O\ 145 (D) (D) (°) o2 0 (D) 31 (*) 0 2 126 (D) s? (31D0) (D) (D) 96 307 56 (D) 91 (°) (DD) () (DD) ( 0) (D) 0 (D) 9 D ( ) 30 0 1 947 7 13462 13,402 160 102 39 (D) 8 32,155 2,210 16,132 2,970 526 8,195 4,441 1,161 2,245 715 3.355 2,874 3.464 269 (°)o /D\ o 0 12 139 (D) 4 0 (D) 8 0 353 0 1 (P) 70 22 (D) 0 (D) 45 8 53 (DD) (D) ( ) (DD) ( ) 0 0 0 168 1 (D) 0 1 0 0 80 0 (D) 41,235 1469 4,058 (D) 118 3 (D) 135 3,458 4,946 3.655 23,549 (D) 4,051 (P) 0 0 0 (D' D ( 0 G 0 0 D () (D) 47 0 (Pi (DD) ( ] (D ( 26 (D) (c ( (D 58 217 0 15 196 6 825 37 69 498 221 26 (D (D 919 0 <* 2 330 C 0 (*' C 62 487 38 468 45C 13 1,171 C (D 0 (°! 102 C 102 0 77 0 24 C C C C c c (D c (D Dc (D ( c c c October 1991 Text continues from p. 40. metal mining—and in three manufacturing industries—computers and office equipment, electronic components and accessories, and transportation equipment. Except for metal mining, most of the sales to the United States in these industries, as well as in most other industries, were to U.S. parents. Sales to the United States accounted for a relatively large share of total sales by MOFA's in Canada and Mexico (mostly by transportation equipment affiliates), in Singapore and Taiwan (mainly by affiliates that manufacture computer components), and in Bermuda, Nigeria, United Arab Emirates, and Egypt (mostly by petroleum affiliates). They also accounted for a sizable share of total sales by MOFA's in the Netherlands Antilles; this large share mostly reflected interest payments (investment income) received from U.S. parents. Specialization of MNC's In all the tables in this article that are disaggregated by industry, except for tables 13 and 14, parents and affiliates are classified by industry of enterprise—that is, by the industry that accounted16for the largest portion of their sales. In the benchmark survey, sales data were collected by industry of sales to determine the correct industry classification of parents and affiliates. This information can also be used to examine the degree of industrial specialization of parent and affiliate operations. Tables 13 and 14 show sales for U.S. parents and MOFA's in their industries of classification and in other industries. For U.S. parents, the proportion of sales in their industry of classification (industry specialization ratio) ranged from 94 percent in FIRE to 75 percent in wholesale trade. In manufacturing, the ratio was 84 percent; within manufacturing, the ratio was highest in transportation equipment and lowest in electric and electronic equipment. For MOFA's, the industry specialization ratios ranged from 99 percent in petroleum to 89 percent in wholesale trade. In manufacturing, the 16. Each U.S. parent or affiliate was classified by industry on the basis of its sales (or total income for holding companies). First, the parent or affiliate was classified in the major industry group that accounted for the largest percentage of its sales. Second, within the major industry group, the parent or affiliate was classified in the two-digit industry group in which its sales were largest. Third, within its two-digit industry, the parent or affiliate was classified in the three-digit subindustry in which its sales were largest. SURVEY OF CURRENT BUSINESS 45 item. In some cases, reporters had difficulty supplying the required information because the data were not easily accessible or were unavailable from their financial accounting records. In particular, data on trade and employment are subject to a higher degree of estimation than other items. The development of procedures to estimate the missing data enabled BEA to publish these preliminary results in 17 months from the due date of Coverage and Methodology the reports. (For the 1982 benchmark survey, only final estimates were of the Benchmark Survey prepared, and these results were pubBenchmark surveys are the most lished 30 months after the due date comprehensive surveys of U.S. direct of the reports.) Final results of the investment abroad conducted by BEA. 1989 benchmark survey, incorporating The preliminary results from the 1989 data from reports received and probenchmark survey are based on re- cessed after the publication of these ported or estimated data for 2,167 U.S. preliminary results, will be published parents and 17,835 foreign affiliates. next fall. Overall, the differences beThis survey covered all foreign affili- tween the preliminary and final results ates of U.S. direct investors that had are expected to be small, but they assets, sales, or net income of more could be sizable for some items and for than $3 million. It collected detailed individual countries and industries. information on the financial structure In the 1989 benchmark survey, a and overall operations of the foreign long form, requesting information in affiliates and their U.S. parent compa- considerable detail, was filed by affilinies, as well as on transactions and ates with assets, sales, or net income positions between the foreign affiliates greater than $15 million. The most deand their U.S. parents. For similar tail was obtained for majority-owned data items, the 1989 estimates pres- nonbank affiliates. To minimize the ented in this article extend the time burden on survey respondents, a short series of universe estimates for 1983- form requesting less detail was intro88, which were derived from sample duced for filing by smaller affiliates. data reported in BEA's annual surveys For these affiliates, BEA has estimated of U.S. direct investment abroad. the items that appear only on the long The concepts and definitions under- form, so that the published results are lying the 1989 benchmark survey are presented in the same detail for all essentially the same as those under- affiliates regardless of size. lying the previous benchmark survey, Some of the industry and country deas described in U.S. Direct Invest- tail that is shown in this article differs ment Abroad: 1982 Benchmark Survey from that shown in prior annual surData. The full methodology for the vey articles. By industry, more detail 1989 survey will accompany the re- is shown in "services" and in "other invised estimates to be published next dustries". By country, the detail shown fall. has been reorganized along strictly geTo produce these preliminary results ographic lines; economic or political from the 1989 benchmark survey, BEA groups, such as the European Commumade estimates for reports not received nities, are no longer shown in the body or processed in time for publication of the tables, but in some cases are and for items that were not reported shown as addenda. In addition, a few or were reported incorrectly. The de- countries in which U.S. investment has gree of estimation varies from item to declined significaiftly were dropped, and several countries in which invest17. Parent and MOFA specialization ratios are senment has expanded significantly were sitive to levels of company consolidation and thus are added. not strictly comparable. In the benchmark survey, U.S. parents were defined as fully consolidated busiThe geographic allocation of sales of ness enterprises and were required to consolidate all services by affiliates in "International" domestic (U.S.) subsidiaries owned more than 50 percent, regardless of industry classification. By contrast, —that is, by affiliates having operaMOFA's were not allowed to consolidate affiliates across tions in more than one country and encountries and, within a given country, could consoligaged in petroleum shipping, other wadate affiliates only if they were classified in the same industry or were integral parts of the same business ter transportation, or operating movoperation. Largely because of this difference in consolable oil- and gas-drilling equipment— idation, the specialization ratios for MOFA's tend to be has been changed. Sales to U.S. perhigher than those for parents. ratio was 92 percent; within manufacturing, the ratio was highest in food manufacturing and lowest in both transportation equipment and nonelectrical machinery. These high ratios for MOFA's show that most affiliates tend to specialize in the manufacture or sale of a specific product or to engage in the development of a specific natural resource, such as petroleum or minerals.17 46 SURVEY OF CURRENT BUSINESS October 1991 sons by these affiliates are now being idated with another U.S. parent or sales by $36.0 billion, and employment recorded as sales to the United States; foreign affiliate since the last bench- by 571,000 (table 15, line 2). For affilpreviously, all sales by these affiliates mark survey. As a result of both iates, it reduced assets by $5.0 billion, reviews, a net of 228 parents and 127 sales by $3.5 billion, and employment were recorded as local sales. foreign affiliates were added to the by 46,000 (table 15, line 11). However, direct investment universe. for certain countries and industries, The improved coverage of the MNC universe in 1989 Globally, the net addition of these the gross changes in the estimates due parents and affiliates did not con- to the addition or deletion of parents In conducting a benchmark survey, tribute significantly to the 1989 and affiliates were quite large (table BEA comprehensively reviews outside changes in the MNC estimates, except 15, lines 3 and 6 for parents and sources of information to improve the for the estimates employ- lines 12 and 15 for affiliates) and may coverage of its universe of U.S. parent ment. For parents,oftheparent improved cov- have had sizable effects on the 1989 companies and foreign affiliates. The review for the 1989 benchmark survey erage increased assets by $43.3 billion, changes. identified 664 parent companies and 5,188 foreign affiliates that had not Table 15.—Sources of Change in Selected Data Items for Nonbank U.S. Parents and Their previously been reported to BEA (taNonbank Foreign Affiliates, 1988-89 ble 15). The newly identified parents AddenMillions of dollars were those that had failed to report Employdum: ment Number in prior annual surveys or that were (thouof parents Sales Assets sands) or not required to report because all of affiliates* their affiliates were below the exemption level of the annual survey. Most of Parents the newly identified affiliates were be174 983.4 541,974 305,379 Total change (sum of lines 2 and 7) ............. 228 571.3 43,314 35,977 Net change due to benchmark revisions (sum of lines 3 and 6) low the annual survey exemption level 664 1,683.3 220,877 277,314 Parents that entered the survey universe (sum of lines 4 and 5) 312 607.4 65,366 79485 Parents that were not required to report in prior annual surveys because their affiliates and were not required to be reported.18 were below BEA's exemption levels . 352 197.729 1,075.9 155.511 Parents that were required to report in prior annual surveys but did not However, the newly identified affili-436 -234,000 -184.900 -1,112.0 Parents that left the survey universe since the last benchmark survey but for which BEA ates that exceeded the exemption level, continued to make estimates through 1988 . though much smaller in number, to498,660 412.1 269,402 Actual changes in parent operations in 1989 (sum of lines 8 and 9) 22,498 37,199 130.7 37 Parents that established or acquired their first foreign affiliate in 1989 gether had far larger assets, sales, and 246,904 461,461 281.4 Parents that were reported in both 1988 and 1989* employment than the affiliates that were below the exemption level. 905 71,552 107,669 Total change (sum of lines 11 and 16) 217.9 BEA also reviewed the status of ex127 -3,505 -4,970 Net change due to benchmark revisions (sum of lines 12 and 15) -46.3 5,188 82,012 89,056 602.8 Affiliates that entered the survey universe (sum of lines 13 and 14) isting parents and affiliates, including 3,347 15,567 12,659 183.8 Affiliates that were not required to be reported in prior annual surveys because they were below BEA's exemption levels . those whose data had been estimated 1,841 419.0 Affiliates that were required to be reported in prior annual surveys but were not 66,445 76.397 -649.1 Affiliates that left the survey universe since the last benchmark survey but for which -5,061 -85,517 -94,026 since the last benchmark survey. This BEA continued to make estimates through 1988*. review eliminated 436 parent compa264.2 75,057 Actual changes in affiliate operations in 1989 (sum of lines 17 and 18) 112,639 nies and 5,061 foreign affiliates from 193.4 20,923 Affiliates established or acquired in 1989 735 40,680 54,134 Affiliates that were reported in both 1988 and 1989 70.8 71,959 the universe because they had been The total change in the number of parents or affiliates (line 1 or 10) is the sum of the net change due to benchmark revisions (line 2 or sold, liquidated, or merged or consol- 11),1. establishments or acquisitions of affiliates in 1989 (line 8 or 17), liquidations or selloffs of affiliates in 1989 (included in line 9 or 18), and 2 3 3 7 18. More affiliates are required to be reported in benchmark surveys than in annual surveys. In the 1989 benchmark survey, a report had to be filed for an affiliate that was at least 10-percent owned by a U.S. person and that had assets, sales, or net income (positive or negative) greater than $3 million. In the annual surveys prior to 1989, an affiliate generally had to be reported if it was owned at least 20 percent by a U.S. person and had assets, sales, or net income greater than $10 million. reorganizations of existing operations in 1989 that divided single business entities or that consolidated separate business entities. 2. More U.S. parents are rtquircd to report in benchmark surveys than in annual sample surveys. In the 1989 benchmark survey, a parent had to report if it owned at least 10 percent of any foreign affiliate with assets, sales, or net income (positive or negative) greater than S3 million. In the annual surveys covering 1983-88, a parent generally had to report if it owned at least 20 percent of an affiliate with assets, sales, or net income greater than $10 million. 3. Parents may leave the survey universe either because they no longer have any foreign affiliates that meet BEA's reporting criteria or because they cease to exist as business entities. 4. Includes parents that existed for at least part of both 1988 and 1989, including parent* that liquidated or sold their last foreign affiliate in 1989. 5. More affiliates are required to be reported in benchmark surveys than in annual sample surveys. In the 1989 benchmark survey, a report had to be filed for an affiliate that was at least 10-percent owned by a U.S. person and that had assets, sales, or net income (positive or negative) greater than $3 million. In the annual surveys covering 1983-S8, an affiliate generally had to be reported if it was owned at least 20 percent by a U.S. person and had assets, sales, or net income greater than $10 million. 6. Affiliates may leave the survey universe cither because they no longer meet BEA's reporting criteria or because they are sold to foreigners or cease to exist as a business entity. 7. Includes affiliates that existed for at least pan of both 1988 and 1989, including affiliates that were liquidated or sold to foreigners in 1989. 47 SURVEY OF CURRENT BUSINESS October 1991 Table 16.—Employment of Nonbank U.S. MNC's, U.S. Parents, and Foreign Affiliates, by Industry of U.S. Parent, 1987-89 Number of employees (thousands) MNC's worldwide Affiliates as a percentage ofU.S. MNC's worldwide in 1989 Percent change MNC's worldwide Parents 1988 1989 > 24,255.4 24,141.1 25342.4 17,985.8 17,737.6 18,721.0 6,269.6 6,403.5 6,621.4 -.5 , 1,006.8 981.8 944.5 693.8 658.4 628.0 313.0 323.4 316.5 -2.5 14,292.5 1,666.9 1,908.5 891.1 1,757.5 1,478.2 3,175.4 3,414.8 14,651.5 1,663.4 1,969.8 917.9 1,985.3 1,441.9 3,067.6 3.605.6 10,195.9 1.158.2 1,258.7 674.1 1,131.0 1,149.3 2,331.7 2,493.0 9,819.9 1,067.9 1,189.2 666.3 1,156.9 1,042.5 2,172.9 2,524.1 10,138.4 1,135.5 1,253.4 690.6 1,266.7 1,016.3 2,083.0 2,692.9 4,409.6 586.8 729.6 226.5 597.2 427.4 977.1 865.0 4,472.6 599.0 719.3 224.8 600.6 435.7 1.002.5 890.7 4,513.1 527.9 716.4 227.3 718.6 425.6 984.6 912.7 -2.1 ^J.5 -4.0 -1.1 1.7 -6.2 -4.0 1.7 2.5 -.2 3.2 3.0 13.0 -2.5 -3.7 -7.8 -5.5 -1.2 2.3 -9.3 , ,.. 14,605.5 1.745.0 1,988.3 900.6 1,728.2 1,576.7 3,308.8 3.358.0 3.2 6.3 5.4 3.6 9.5 -2.5 -4.1 6.7 448.9 498.1 576.5 314.7 341.8 423.7 134.2 156.3 152.8 U.O 15.7 8.6 Finance (except banking), insurance, and real estate 1,500.0 1,470.9 1,537.6 1,054.1 1,049.3 1,080.9 445.9 421.6 456.7 -1.9 Services 1,692.6 1,780.1 2,105.8 1,478.0 1,530.0 1,725.7 214.6 250.1 380.1 5.2 18.3 12.8 18.1 Other industries 5,001.6 5,117.7 5,526.4 4,249.3 4,338.3 4,724.2 752.3 779.4 802.2 2.3 8.0 8.9 14.5 All industries Petroleum .. ., Manufacturing Food and kindred products Chemicals and allied products Primary and fabricated metals Machinery, except electrical Electric and electronic equipment Transportation equipment Other manufacturing Wholesale trade 26.1 -2.1 1.4 2.1 -1.4 -.8 .6 1.9 2.6 3.0 .9 -11.9 -.4 1.1 19.6 -2.3 -1.8 2.5 30.8 31.7 36.4 24.8 36.2 29.5 32.1 25.3 24.0 -2.2 26.5 3.0 8.3 29.7 1. See footnote 1 to table 1. MNC Multinational company Ordering Publications and Diskettes on U.S. Direct Investment Abroad Additional detail from the 1989 and 1982 benchmark surveys and the 1983-88 annual surveys are available in the publications listed below. The estimates for 1983—89 are also available on computer diskettes. The 1983-85 publications, and the diskettes for all years, may be obtained from the Public Information Office, Order Desk, BE-53, Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. Make check or money order payable to "Bureau of Economic Analysis" and include your return address with the order. To place an order using Master Card or VISA, call (202) 523-0612. The publications for 1986 forward may be obtained from the Superintendent of Documents, U.S. Government Printing Office (GPO), Washington, DC 20402; telephone (202) 783-3238. The titles, BEA accession or GPO stock numbers, and prices of the publications, and the years, BEA accession numbers, and prices of the diskettes, which should be quoted when ordering, are as follows: Diskette1 Publication Title Year 1983 1984 1985 1986 1987 1988 1989 U.S. Direct Investment Abroad: Operations of U.S. Parent Companies and Their Foreign Affiliates: Revised 1983 Estimates Revised 1984 Estimates Revised 1985 Estimates Revised 1986 Estimates Revised 1987 Estimates Revised 1988 Estimates U.S. Direct Investment Abroad: 1989 Benchmark Survey, Preliminary Results BEA Accession Number GPO Stock Number 50-86-10-103 50-87-10-103 50-88-10-103 Price BEA Accession Number Price 50-86-40-403 50-87-40-409 50-88-40-403 50-89-40-403 50-90-40-403 50-91-40-403 50-91-40-404 $20.00 $20.00 $20.00 $20.00 $20.00 $20.00 $40.00 — 003-010-00189-5 003-010-00201-8 003-010-00221-2 $5.00 $5.00 $5.00 $4.25 $4.25 $4.25 — (2) (2) 1. Note to diskette users: All files are in ASCII format and are copied, using DOS, onto 5 1/4-inch diameter diskettes (9 sector, double-sided, double-density). A documentation file is included. 2. This publication is scheduled to be available in early December. Call the U.S. Government Printing Office at (202) 783-3238 for order information. For 1982, estimates in greater detail than those for 1983-88 may be obtained in U.S. Direct Investment Abroad: 1982 Benchmark Survey Data. That publication, which contains detailed results of the 1982 benchmark survey and a methodology for U.S. direct investment abroad, may be obtained from the National Technical Information Service (NTIS), NTIS Accession No. PB 86-169117, price $50.00, or $9.00 for a microfiche. Call NTIS at (703) 487-4650 or fax (703) 321-8547. A computer tape of the 1982 data is also available from BEA, Accession No. BEA IID 86-001, price $100.00; to order, call (202) 523-0652. 48 SURVEY OF CURRENT BUSINESS October 1991 Table 17.1.—Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1988 Millions of dollars Sales Total assets All Industries Petroleum Oil and gas extraction Crude petroleum (no refining) and natural gas Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade . ....... ...... Other Z!ZZ! ZZ! Goods Net income Expenditures for property, plant, and equipment Employee compensation Number of employees (thousands) 4363,441 2,828,209 2,017,410 810,799 156,083 177,203 591,434 17,737.( 429,439 24,995 17,853 7,142 312.320 309.644 (D) 293,946 9,086 4,064 5,022 231.277 228,155 273,924 5,677 20,022 3,409 (DD) () 6,881 6,810 20353 -100 144 -244 19.742 19,530 28,837 1,836 1,573 263 24.609 24,459 29322 3,107 633 2,474 22,832 22,428 658.4 8 3357 (D) 43,663 188 795 115 2,252 140 2,964 419 67. 506.. 496. ( DD ( 60/ ll.( 89,407 80,245 366,446 9,819.! 11,959 2,673 6,096 3,190 8,498 2,382 3,069 3,047 27,497 6,784 10,679 10,035 l,067.< 295.: 399. 373.. 87,819 4.305 ZZ! Total Services and investment incomel 8 224,396 221,345 8 3,169 6,563 119,420 so.: 1,633,824 50,226 1,430,731 167,311 42,127 68,321 56,863 182.795 44,347 62,830 75.617 180.490 (D) 61,842 <°) 988 (D) 258,547 109,015 70,017 51,554 9.097 18,865 210,844 93,058 55,361 37,118 6,571 18,736 204,255 89302 54,363 36,047 6,480 17,864 6,588 3.556 999 1,071 91 872 21,775 8,566 9,039 2,432 562 1,175 15,123 7.895 3,925 1,605 577 1,121 47,585 20,440 14,468 7,389 971 4,317 1,189.; 470/ 369.C 2O6.< 25.< 117. 91,184 49347 23,308 26,038 41,837 93366 49,112 24,864 24,249 44,454 90,414 47,268 24,442 22,826 43,146 3,152 1,844 422 1,422 1,308 1338 -798 -3,105 2,308 2,336 4,608 2.534 1,047 1,487 2,074 24,110 12,978 8.044 4,934 11,132 666.: 297.( 163. 134.. 368/ Machinery, except electrical , Farm and garden machinery Construction, mining, and materials handling machinery Computer and office equipment „ Other - 174,949 10,310 24.231 108,264 32,144 143,133 7,443 24,842 76,158 34,690 121,212 21,921 (D) 752 18,696 (D) 12,038 412 1,088 9,688 850 9,259 213 984 6,741 1,320 48,670 2,007 5,938 30.407 10,317 50.< 169/ 618. 317. Electric and electronic equipment Household appliances Household audio and video, and communications equipment ... Electronic components and accessories Electrical machinery, n.e.c 185.705 6,676 28,469 21,257 129,303 132,297 7.518 31,764 20.508 72,506 109,741 (D) 22,556 (°) (°) (D) 354 (D) 7,738 321 1,506 1,306 4,605 5.972 349 1,552 1,440 2,631 36.975 1,516 10.754 5.831 18.873 1,042.. 59.. 278. 189. 515.( Transportation equipment Motor vehicles and equipment Other 425.976 316.817 109.160 368,350 235,385 132.964 333,311 207,712 125,600 35,038 27,674 7,364 17,937 12.338 5,599 17,396 11,412 5,983 99,921 56,103 43,817 2,172/ 1.068/ 1,104. Other manufacturing .,, .„........•..,. Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products Printing and publishing ., Rubber products Miscellaneous plastics products Glass products ,. Stone, clay, and other nonmetallic mineral products Instruments and related products Other 330,152 24,454 20,946 28,811 61,136 45.281 16,861 8,738 10,133 13,999 90,628 9,166 299,746 13.936 24,894 29,380 59.806 40.106 14.046 10,038 6,898 12.582 76,718 11.343 271,887 11,452 24,692 (D) 58,840 32,746 (D) 27.859 2,483 202 12,444 63,729 10,864 138 12,988 480 16,423 1,374 864 1,661 5,199 3,066 536 651 244 -882 3,686 24 19,390 478 1,101 1,630 5,431 2,583 961 487 509 634 4,944 630 81,689 2.283 6.746 5,999 13,595 9,784 4,057 2,580 2,741 3,249 27,558 3,097 2324. 97.. 342/ 206. 362. 322.( 123. 88.^ 77.^ 81. 714.; 1O7.< 79376 45,406 34,169 194,188 108,561 85.627 191,103 106,251 84,853 3,084 2,310 774 2,452 1.147 1,305 4,463 3,015 1,448 9,755 4,981 4.774 341.1 163. 178.. Finance (except banking), insurance, and real estate Finance, except banking Insurance Real estate Holding companies, except bank holding companies 1342,032 542,629 995,348 1,659 2,397 378,014 71,009 306,119 798 87 12,222 1314 10,687 21 0 365,792 69,495 295,432 778 87 19,028 3.457 15,774 5 -209 9,084 2.335 6.741 8 (*) 40,162 14,255 25,826 70 11 1,049.. 254. 793. 1. Services Hotels and other lodging places Business services Advertising Equipment rental (ex. automotive and computers) Computer processing and data preparation services Business services, n.e.c ...'. Automotive rental and leasing, without drivers Motion pictures, including televsion tape and film Health services , Engineering, architectural, and surveying services Management and public relations services Other 119,624 12373 30.246 5,837 2.727 8.927 12,755 13,450 19,436 19,033 6.992 4,378 13316 90487 10,695 24,264 3,980 769 5,881 13,634 7,262 10,201 15,983 4,749 2.827 14,307 13398 (D) 2.789 (D) 172 167 76,889 (D) 21,474 (D) 596 5,715 (D) 6,593 7,197 15389 4,009 2.827 4,842 -65 1.774 142 68 404 1,160 224 403 822 -203 63 1,824 12352 1,846 2.034 80 154 819 981 5,031 568 1,397 224 58 1,194 32,805 4,120 10.489 2,014 150 1,905 6,420 1,938 1,809 5,991 2,178 925 5.354 1330. 292. 554. 43/ 4. 57.< 448.< 67. 49. 287.' 57. 19. 202. 558,946 3,523 7,771 5,057 2,714 8,690 76,606 304,242 158.114 441,043 3.058 5373 3,291 2,082 19.389 66396 160,364 186,463 225391 19^01 223 662 702 -40 -9 2,961 10,910 5,054 42,222 225 760 (DD) ( ) 329 7,734 27.525 5,649 112,945 590 1,030 543 487 5,476 25,819 44.163 35.867 433823.< 28. 14/ 13. 147. 682.< 1,129. 2,327. Manufacturing i Food and kindred products Grain mill and bakery products Beverages Other Chemicals and allied products Industrial chemicals and synthetics Drugs Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.e.c , , Primary and fabricated metals Primary metal industries , .'.., Nonfeirous Fabricated metal products ., ...... Wholesale trade Durable goods Nondurable goods , , , Other industries Agriculture, forestry, and fishing Mining Metal mining Nonmetallic minerals Construction Transportation , Communications and public utilities Retail trade ! !!!!!'. * Less than 5500,000. Suppressed to avoid disclosure of data of individual companies. I. See footnote 2 to table 10. D 13U310 (P) 24.090 57,461 (D) 20,154 (D) 8 8 3,004 394 740 0 (°) **$ 5,338 (D) (D) 15.713 2,077 22,288 (D) 2,305 (°) 966 7,360 (D) 8 35 (D) 3.676 64,319 138,076 (D) 49 SURVEY OF CURRENT BUSINESS October 1991 Table 17.2.—Selected Data for Nonbank U.S. Parents, by Industry of U.S. Parent, 1989 ! Millions of dollars Sales Total assets Investment income Services Goods Total Net income Expendi* tures for property, plant, and equipment Number of employees (thousands) Employee compensation 4,905,415 3,133488 2,212486 798,156 1223-45 166,406 203,066 662^66 501398 22,714 15,745 6,969 307,568 303,150 (DD) ( ) 169.130 2,486 352,727 9,312 4,267 5,045 268,330 262.445 324,499 5,918 (D) 18391 23,621 339 350 -10 18.841 18.726 26362 1,478 1.250 228 22.140 21,948 29304 2371 615 2.256 22,900 22,383 74,539 546 60,532 0 (D) 9,289 9,058 224 6 5,728 539 9337 59 22 37 991 991 0 0 8,280 7 4,364 77 2,409 236 3,388 145 1378,022 1444,658 1,418383 100,641 25,634 83,463 993*9 391,119 186,886 30,588 45,785 110,514 193,234 33,306 37,068 122,860 185,851 33,093 36,300 116,459 6431 213 743 5475 851 0 25 826 13,096 2,075 4.671 6.350 9,312 1,780 3,348 4,183 28,783 5,023 7,660 16,101 295.254 140.371 76.965 48.546 11,486 17,887 232,139 106,523 56,989 42,754 7,769 18,104 225,060 101,918 56.513 41,259 7,621 17,748 6,493 4317 476 1,341 115 343 587 387 0 154 33 13 22472 9,035 9,665 2339 441 1,192 20,457 11,674 4,823 1.971 831 1,158 53,809 23,406 16,095 8,207 1,690 4,411 Primary and fabricated metals Primary metal industries Ferrous Nonferrous Fabricated metal products 106.518 61,952 19.969 41,983 44,566 103306 57,128 21,539 35489 46,678 98,813 53,797 4,946 3384 45,015 8 1,662 (°) 47 47 7 40 (*) 5.468 3384 971 2,913 1485 5.056 3,444 1,195 2350 1,611 26,133 14,530 5.876 8.654 11,602 Machinery, except electrical Farm and garden machinery , Construction, mining, and materials handling machinery Computer and office equipment Other 220,249 (D) 23,468 121470 173499 17,445 24,102 86,402 45.649 150,391 15.799 23.836 67,842 42,914 21,186 (D) 266 17466 (D) 2,022 (D) 0 994 (D) 9,525 1,008 1,171 5,803 1443 11,733 57^76 4.436 5,968 33,264 13,608 Electric and electronic equipment Household appliances Household audio and video, and communications equipment Electronic components and accessories Electrical machinery, n.e.c , 206,916 10,315 147,565 22.478 26459 137.246 11,503 79,299 20,480 25.963 120,216 11403 (D) 19,960 7.829 0 (D) 406 (°) (°) 9,200 0 9,085 115 0 7343 398 4,692 1,010 1,142 11465 1.037 7,072 2,428 1.028 38,104 2,626 20,790 6.811 7.878 Transportation equipment Motor vehicles and equipment Other 446457 339331 107.326 358423 236,482 122,041 319,935 206,259 113,676 26417 18,669 7.848 12,071 11.554 516 8,285 3.646 4,639 18.600 12,957 5,643 93437 49,125 44,412 415,641 58429 24.142 34,775 73,767 67.296 18,072 11,494 13,697 15,647 88366 9,957 346,112 27427 26,699 34.942 69421 49,845 16.463 12363 9413 13.385 75,483 10,369 318,118 24,988 26,427 (D) 68,090 38,600 16,302 12,325 8,474 13.252 66,296 (D) 27.139 1398 272 855 641 1.431 11.106 162 35 1,032 133 9,134 (D) (*) 139 0 3 8 0 53 12 17,274 408 853 1.802 5305 2,690 245 626 179 355 4366 445 22,647 879 1,342 2,002 7,157 2.928 876 832 664 954 4,459 554 93,477 4405 7.335 7,017 16,407 12431 5,195 3,148 3.444 3.183 27,971 2,743 98,603 52499 46,004 224408 104.733 119,775 218,989 100,979 118,010 4,193 3.165 1,027 1326 588 738 2,916 835 2,081 5,066 2381 2,185 13,787 6,924 6,863 1,620363 529,097 1,084,452 4,020 2.794 376,418 77380 296,916 2,122 0 12413 285,471 239364 (D) 0 78,433 31,439 46,852 143 0 24,719 5,771 18.996 99 -147 7,479 10300 (D) 0 45,966 14,210 31.612 142 3 135,638 14437 38,613 6,379 341 15,043 16,851 14,391 23,000 19,370 7488 1,197 16,942 111,447 10,807 35402 4,742 14,165 95386 (D) 30,891 5332 299 1,284 151 13378 1.427 3,141 162 42346 4,318 15,450 12.635 1,923 (DDj ( ] 3,052 13% (*) 159 0 { 43 115 (& \,W -io; (D 102 1,715 347 -144 51 2.179 2,06< (D 4,915 414 1393 473 69 1445 442: (D 1,941 1,863 6,060 4,046 1,214 7.647 670^90 1,861 10,078 7.181 2,897 8,402 119,448 359^01 171.900 S23JS29 1429 7,327 4,788 2439 20,997 110422 185,630 197,824 25354 173 648 547 101 194 3.657 16,739 4.444 51313 113 975 626 349 329 13.292 30,49 6313 139444 394 1485 933 652 3364 40.823 55,757 37,62 AIJ industries Petroleum Oil and gas extraction .................... .......................... Crude petroleum (no refining) and natural gas Oil and gas field services Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction , Petroleum and coal products, n.e.c Petroleum wholesale trade Other Manufacturing Food and kindred products Grain mill and bakery products Beverages Other , ......... Chemicals and allied products Industrial chemicals and synthetics Drugs Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.c.c , .... Other manufacturing ..,.......+...... ..................... Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products Printing and publishing Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmetallic mineral products Instruments and related products Other Wholesale trade Durable coeds VHtll,u, Nondurable goods ..H.,,,,,.,.,,*...,.....*..".^*!^!^^^ .*+***• Finance (except banking), insurance, and real estate Finance, except banking Real estate Holding companies, except bank holding companies Services Hotels and other lodging places Business services Advertising Equipment rental {ex. automotive and computers) Computer processing and data preparation services Business services, n.c.c Automotive rental and leasing, without drivers Motion pictures, including televsion tape and film Health services Engineering, architectural, and surveying services Management and public relations services Other ..... „ Other industries Agriculture, forestry, and fishing Mining Meiul mining Nonmetallic minerals Construction ...............................«.»*.. Transportation Communications and public'utilities * Less than $500,000. Suppressed to avoid disclosure of data of individual companies. I. See footnote 1 to table 1. D 8 (°) 8,657 11,997 16,103 9,128 2,013 17,238 (°) 258,050 252396 P) i°) 4,453 333 D 6 (D) o ( 3 C 10.669 (°] 7,706 7302 15,964 8,268 2,013 (°) (°) 224,037 293,074 6,719 (*) 6 6 0 ; 158 523 6,031 (°) 798 (D" 2414 16,788 2,393 24,721 171,489 (D- 62 0 (P (°] 1 25 4,208 107.972 160386 20,304 £) <°) (°) 1,210 8,060 (°) 5,661 C) (°) 1>8 D 50 SURVEY OF CURRENT BUSINESS October 1991 Table 18.—Selected Data for Nonbank Foreign Affiliates, by Industry of Affiliate, 1988 and 1989 Millions of dollars Millions of dollars Total assets All industries . Net income U.S. merchandise cxpons shipped to affiliates U.S. merchandise imports shipped Employee compensation Number of employees (thousands) Total assets Net income affiliates U.S. merchandise exports shipped to affiliates U.S. merchandise imports shipped by affiliates Employee compensation U 06326 1,194,733 76,787 94,831 87,291 151,461 6,403.5 1313,995 1,266,285 85,173 102,067 93,694 162,419 8,961 4,814 4,787 27 1,658 296.1 107.3 69.3 38.0 128.4 74.3 51.1 3.0 40.6 19.8 192,911 81,952 74.405 7,547 68.701 (D) 32.589 (D) 27.716 14,542 224,015 40,211 36,451 3,760 93,239 (D) 56,421 (D) 74,240 16.326 9,426 4.441 4.542 -100 2,078 (D) 875 <D> 2.047 860 2,498 788 571 217 378 79 249 49 10,704 7,138 7.120 18 <D) 237 11347 3.106 2,181 925 6,078 (D) 1,739 (D) 1,499 665 Petroleum Oil and gas extraction Crude petroleum (no refining) and natural gas . Oil and gas field services Petroleum and coal products manufacturing ... Integrated petroleum refining and extraction ..... Petroleum refining without extraction Petroleum and coal products, n.e.c , Petroleum wholesale trade , Oiher 193,776 86.977 78.227 8.750 66.065 23.853 41,430 782 26,645 14,089 208,404 38,050 33,799 4,251 79,635 23,946 54.840 850 73.909 16,811 9,475 4,84; 4,804 38 2,515 1,343 1,110 62 1,353 765 2,005 947 681 267 219 28 136 54 812 27 8 2,490 0 10,601 2,727 1.727 1,000 5,876 3,697 2,123 56 1,436 562 Manufacturing D () D D 457,619 619,293 38,213 66317 68,975 98,482 4,144.1 491,082 641,243 41,255 70,128 72,418 101,492 Food and kindred products . Grain mill and bakery products Beverages Other 39,780 11,800 9,376 18,604 59.932 19,905 11,275 28,75! 3,510 970 1,260 1,280 2,224 981 151 1.091 791 126 232 433 7,209 2.521 1,074 3.613 416.4 117.1 73.0 226.3 47,517 11,723 16,075 19,720 69,033 19,696 19,780 29,556 4,713 1,732 1,705 1,276 2,192 1,074 213 904 946 182 8,865 2,412 2.491 3,961 Chemicals and allied products Industrial chemicals and synthetics . Drugs Soap, cleaners, and toilet goods Agricultural chemicals Chemical products, n.e.c 94.541 46,759 22,087 10,977 2,698 12,020 109.993 52.428 25.269 17.026 2,693 12.577 9,902 5,082 2,725 813 189 1,093 7.537 3,916 2,132 389 217 883 3,903 2,552 635 46 280 390 14,745 5.474 4,707 2.539 296 1.729 593.7 195.9 191.3 122.3 17.6 66.4 101,906 50,676 21,386 12,776 2,919 14,150 115,275 53,564 24,340 20,439 2,691 14,241 9,772 5,041 2,318 984 121 1,307 8,307 4,583 1,926 (l>) 296 4,441 2,787 638 93 277 646 15,699 5,636 4,733 3,033 270 2,027 Primary and fabricated metals , Primary metal industries Ferrous Nonfcrrous Fabricated metal products .... 24,178 9,205 2,150 7,056 14,972 27.822 9.451 2,152 7.299 18,371 2,171 974 161 813 1.196 1,636 652 66 586 983 2.153 1,347 217 1,130 806 4,863 1,209 383 826 3,653 228.1 60.3 19.1 41.2 167.8 23,397 8,422 963 7,458 14,975 26,156 9.404 1,536 7.868 16,752 2.080 775 41 734 1,305 1,990 885 84 801 1,105 1,909 826 1,083 4.698 1,126 232 894 3.572 Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery Computer and office equipment Other 75,499 2,744 99.164 4.718 6,255 64 9,136 330 10,100 980 19,301 810 557.5 26.6 73,661 104,221 6,830 12.278 (D 12,488 17.852 9,467 48,946 14,343 12,169 64,096 18,181 321 5,062 1,414 5,739 1,653 1,673 5,967 1,431 2,131 12,440 3,920 87.1 264.2 179.6 9,725 45,268 Electric and electronic equipment Household appliances Household audio and video, and communications equipment Electronic components and accessories ... Electrical machinery, n.c.c 43,854 5,756 55,441 7.486 3,026 300 8.096 561 9,391 584 12,484 1,451 665.9 107.9 52.101 5,792 60.700 6,703 3.521 390 8,168 608 14,103 16,763 7,232 16,874 22,126 8,954 819 1.402 505 889 5,762 883 1.189 6.826 792 4,837 4,209 1,987 169.7 277.2 11 I.I 21,505 17.062 7,742 21,033 23,568 9,396 1,395 1.237 499 824 5,608 1.128 7.152 800 4,826 4,160 2,238 Transportation equipment Motor vehicles and equipment Other 95,396 89,662 5,734 162,787 157,096 5,691 5,461 5.396 65 30,324 29,840 484 35.319 33.965 1,353 21,085 19,022 2,063 821.2 751.0 70.2 98,990 95,495 3,495 160,196 156,692 3.505 6,726 6,652 74 28,714 28,283 431 33,854 32,555 1,299 21,768 20,526 1,242 Other manufacturing Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures Paper and allied products Printing and publishing Rubber products Miscellaneous plastics products Gla.ss products Stone, clay, and ether nonmetaJIic mineral products Instruments and related products Other 84,371 14.472 3.706 1,948 16,778 2,702 6,746 6,457 5,100 3,826 19,487 3,149 104,155 19.120 4,813 2.451 18.168 3.393 10,098 7.945 5.146 4,479 24,484 4.057 7,889 1,076 311 148 1.394 217 655 638 461 402 2,331 256 18,795 2,178 982 545 2,998 658 2,173 1,149 1,121 1.030 5,242 718 861.3 102.0 81.3 27.4 134.2 32.1 102.3 53.7 55.7 49.1 175.9 47.7 93,509 (D) 4.682 2,786 22,168 3,108 7,309 6,151 5,863 4.405 25.271 105,661 <D) 6.083 3.241 21,400 3,864 10,309 7,422 5,127 4,758 27,779 7,613 (D) 452 123 1.533 215 556 421 523 433 1.895 8,480 (D) 526 9,323 (D) 1,105 728 3,498 81 607 (D) 315 292 ° 7.317 94 443 466 2,745 70 504 140 258 240 1,857 501 20,051 961 1.192 842 3,955 740 2,350 1,158 1,103 1.115 5,840 795 107302 73.598 33,704 203302 125.992 77.310 8,124 5.015 3,109 25,109 17,808 7,301 7328 5,044 2,284 16,562 13,064 3,498 501.6 381.8 119.8 111,988 75,891 36.096 221,461 142.174 79,288 Finance (except banking), insurance, and real estate . Finance, except banking Insurance Real estate Holding companies, except bank holding companies ... 348,714 190,569 86,015 6,416 65,715 50,686 21,377 27,813 1,314 181 15,750 2.465 2,491 -127 10,921 29 (D) 5,763 2,704 2,871 92 97 163.0 57.1 99.9 3.1 2.9 403,426 222,154 89,576 7,539 84,157 Services Hotels and other lodging places Business services Advertising Equipment rental (ex. automotive and computers) ... Computer processing and data preparation services . Business services, n.e.c Automotive rental and leasing, without drivers , Motion pictures, including tdevsion tape and film Hcalrh services Engineering, archiieetural, and surveying services Management and public relations services Other 37,801 3,052 16,499 4,175 3,658 5,168 3,499 3.923 3.919 1,299 2,775 3.959 2,375 37,083 2,529 18,151 3,747 3,215 6,924 4,266 2,270 4,180 723 4,058 3,217 1,955 2,204 214 1,070 195 95 519 261 134 268 53 101 162 203 312 8 249 9,052 718 4,892 1,546 728 1,139 1,479 393 254 273 982 964 576 373.3 56.3 182.9 41.4 24.1 27.6 89.8 18.6 19.8 13.5 28.7 19.1 34.4 47,551 4,041 20.884 6,142 1,619 8.804 4.319 (D) 4.149 998 2.740 5,547 Other industries Agriculture, forestry, and fishing Mining Metal mining Nonmetallic minerals Construction Transportation Communications and public utilities Retail trade 61,114 1,887 16.468 12.434 4,035 4.031 7.012 13.407 18,303 15,965 2,100 7,707 6,279 1,429 6,364 5,227 19,326 35,241 3,020 118 804 770 34 169 435 647 847 1,109 320 190 157 34 125 7 71 395 11,000 437 1,333 1,061 111 1,510 882 1,241 5,596 925.4 96.6 90.2 75.3 14.9 60.0 44.9 47.9 585.8 67,036 1,541 17,010 13,095 3.914 3.259 8,060 16,570 20,597 Wholesale trade Durable goods Nondurable goods ... * Less than S500.000. D Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to lablc L 7.364 (D) 314 86 1,150 96 824 605 215 263 3,034 0 122 (D) 0 (> (*) 0 (D) o 0 0 1 1,927 516 1.228 1,021 207 <B) (*) D D D D D 13,432 64,117 D D 526 5,170 D n 8,587 D () 8.063 2,118 (°) 1.362 104 747 617 422 (D) 3,662 350 8 D () D 1,501 8.225 D 2,239 10,223 D ) 12,559 1,334 () D 5.290 3.297 27,424 19.749 7,675 8,414 6.440 1,974 19386 15,099 4,287 58,848 26,858 30,572 1,202 216 19,446 4,590 2,774 -222 12,304 6 3 0 0 3 (*) 6,204 2,793 3,066 81 265 41328 2.440 19.989 4,137 1,019 9.489 5.344 3,237 182 1,301 196 64 652 389 474 5 287 930 4,442 107 4,094 258 79389 1.825 8,915 7,426 1,489 6,033 3,223 78 691 861 -170 220 O 40.149 (D) 0 57 5 1 D 0 4,393 0 0 0 (*) C) (*) 14 4 164 1,536 246 230 1°) (") 156 17 15 873 11,637 794 6,357 1.979 187 1.657 2,534 <D) 344 315 947 1,037 D 12354 388 1.520 1.275 245 1,383 1,201 1,449 6.411 SURVEY OF CURRENT BUSINESS October 1991 51 Table 19.—Selected Data for Nonbank Foreign Affiliates, by Country, 1988 and 1989 Millions of dollars Millions of dollars Total assets All countries . Canada Europe Austria Belgium ... Denmark . Finland .... France .... Germany, Federal Republic of .. Greece Ireland ."..... Italy ......... Luxembourg Netherlands Norway Portugal Spain Sweden :.,„., Switzerland ."..., Turkey United Kingdom , Other Latin America and Other Western Hemisphere . South America ..... Argentina Brazil Chile Colombia Ecuador Peru Venezuela Other Central America Costa Rica Guatemala Honduras Mexico Panama Other Other Western Hemisphere Bahamas ; Barbados » Bermuda Dominican Republic Jamaica ..... Netherlands Antilles Trinidad and Tobago United Kingdom Islands. Caribbean .. Other ! Africa Egypt. Nigeria South Africa . Other Middle East Israel Saudi Arabia United Arab Emirates ., Other Asia and Pacific Australia Hong Kong India Indonesia Korea, Republic of . Malaysia .................. New Zealand Philippines Singapore Taiwan Thailand Other ....................... International 2 Addenda: Eastern Europe3 European Communities (12) 4 OPEC 1,206,326 1,194,733 175,625 168,024 577,271 627,430 7.879 7,776 25,286 32,043 3.930 4,460 2.529 1.322 76,810 50,507 87,291 43,005 94,881 38,327 28,307 265 1,734 233 162 2,732 5,152 72 2,917 2.366 190 5,972 155 2,451 127 87 3,280 4,145 49 1,220 1,831 98 4,472 () 616 119 1 1,785 2,451 14 1,075 1,197 72 668 755 219 2.318 279 4,491 20 13,037 92 95 151 1,028 410 1,244 129 7,290 44 () 51 309 177 261 D 54.239 5,189 33,706 1,717 4,365 841 1.115 5,790 1,515 9,636 3,430 160 2,285 232 210 27 -79 525 70 27.630 623 712 1,037 22.607 1.907 744 2,813 10 27 41 1.713 995 28 10316 3,144 330 1,401 106 292 111 71 725 107 6,404 97 81 127 5,799 271 29 1,465 3.570 445 15,688 2,443 2,519 3^15 7,210 21,434 1,656 906 10,980 604 1,076 4,055 949 686 522 16,702 1,663 2,280 6,106 6,653 22,431 2,864 14,054 3,085 2,428 15355 2^68 8,410 2,659 1.919 240389 46.048 1,244 12,225 1.995 7,678 130,814 8.255 4.894 5,027 3,386 8.862 5,095 2,805 2.261 257381 46.864 482 12,043 2,622 6.043 141.221 8.468 5,825 3,597 3,986 13,841 6,272 4,032 2,284 3,393 136 84 1.126 127 150 1,016 102 632 22 U32 99 173 269 791 1,359 318 824 47 170 12,162 2,467 -37 1,352 143 882 4.131 354 494 108 246 1,088 618 246 70 13,145 6,139 380 () 511,920 36,749 () 554.486 26,653 89,461 1,974 12,173 39,466 2,460 52,413 12,009 1,683 20,183 5,269 37,076 992 212.383 803 161,576 49,463 5.126 27,739 2,246 4.283 722 1,794 6,713 840 28,713 651 461 561 18,831 7,728 480 83.400 3,881 929 36,105 639 1,386 34,980 * Less than $500,000. Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to table 1. 2. See footnote 1 to table 2. 3. See footnote 3 to table 4. 4. See footnote 2 to table 2. 5. See footnote 5 to table 4. a Net income U.S. U.S. Number of mermeremployees chandise chandise (thouEmployee exports imports sands) shipped shipped compensation by affiliates 131,556 2,169 10,552 47.689 1,322 54,832 8,571 3,139 25,187 8,528 43,134 1,831 164,728 576 103303 76,787 8,914 () 36.942 2,470 968 (D) 16 36 70 117 21 1°) 46 21 682 153 52 219 257 36,974 26,143 1.270 6,4034 965.5 1313,995 1,266,285 183,295 192,036 657,691 658,946 7457 7,359 31,489 29,819 4,375 4,070 2,999 1497 82,107 59,727 134,009 101,859 1.986 941 11,472 12,984 51419 37,900 1443 2,647 56,367 67.730 9,122 11.015 3416 2,276 28,172 22,747 8,885 5,241 37,659 40,746 2,378 1,429 183,079 246,670 712 934 21.039 187 925 8,151 314 4,615 875 282 3,901 1,293 2,525 106 21,404 38 2,632.6 33.4 124.4 19.5 5.9 365.7 541.7 11.5 39.4 235.4 7.6 132.0 20.6 22.1 155.2 37.5 48.0 13.5 817.0 2.5 11,295 2,963 105 2,088 165 305 173 (D) 31 D 10,848 7,304 723 4,850 153 464 67 180 753 114 1,251.2 661.7 67.4 424.6 14.5 45.8 11.3 16.3 71.6 10.1 163355 51,084 4,705 32,001 3,179 4,067 625 1.894 3,945 667 113,180 57.147 4,828 38.667 2,164 4,221 810 1,175 3.822 1,459 6,406 128 72 74 5,887 244 (*) 1,926 80 35 (D) 34 261 3.102 83 81 134 2,594 169 41 549.0 20.5 17.1 23.7 460.1 23.2 4.4 31.343 737 431 617 21.041 8,202 316 442 99 20 87 39 40 32 67 26 31 40.5 6.8 2.3 3.2 11.6 5.2 2.2 3.8 1.5 3.9 150.6 9.7 12.4 61.6 66.9 91.8 15.1 68.3 3.1 5.; 1,283.9 369.0 9.0 49. 52.0 39.0 363.1 65.8 64.3 18.8 95.9 55. 55.3 33.6 13.3 81,128 3,858 1,006 39,064 (D) 1,606 28,557 1,332 4,291 33,963 832 743 1,168 28,739 1,990 491 22,071 1465 14,105 0 <3<°> 1355 836 20 993 447 81 138 71 26 16,616 2,490 83 2,258 40 164 6,193 828 1,207 200 382 1,813 511 402 43 151,461 24,105 85303 Net income Total assets () 1,489 8 2,011 17 484 9.939 1,105 1,631 66 532 3,261 1,582 <°) (*) 13.481 1.697 1,020 4,364 719 239 13.305 1,209 80 97 605 426 3,258 387 2,665 84 122 26,067 1 674 223 385 14,699 762 421 387 391 679 62! 198 140 671 1 79,207 4,116 (°) 749 12,647 (D) 1,294 (D) 848 774 85,173 102,067 7,498 38,182 46,206 30,099 385 168 1,896 2,263 186 136 133 86 3.017 3,658 5,194 5,826 48 36 1,286 3.102 1,810 1,963 103 297 3,660 6,830 93,694 40,136 15,775 61 871 161 (D) 1,791 163 95 1.774 676 30 769 862 207 2,538 395 5.701 72 12,693 68 15,270 4,960 -305 4,722 263 38 33 -60 146 123 • 3.874 45 7 32 2,166 1,652 -27 12,452 3.138 315 1494 172 313 114 69 548 14 8.339 (D) 55 152 7,587 234 D 37 5,596 59 11,886 3.142 194 () 96 59 28 C) 7,612 59 26 125 7,274 128 (*) 1.132 631 133 43 215 240 2324 495 177 180 7 6' 733 19D ( 280 (r 22333 (D 27 99 ° 879 21,910 3402 13.907 2.42' 2,078 14,743 2,471 8,605 1497 2,070 252,241 48484 1,741 12.629 274,908 54,81 80S 16.634 1.990 6,265 138476 10,154 5,879 1,250 186 879 71 114 13364 3,092 <°> 464 1,248 49 7,809 55 975 439 1 137 40 15,225 2.037 2,336 4,329 6423 usr 2.131 21 591 716 107 934 6,436 1,031 109 3,075 (D) 344 (D) 27 558 14,689 2,775 2418 2,275 7,122 7,758 133,062 9.884 5.089 U.S. U.S. Number of mermeremployees chandise chandise (thouEmployee exports imports sands) shipped shipped compensation by to affiliates affiliates 310 223 22 323 1.460 68 1.267 4,104 259 385 3,775 16,445 8.050 6,159 1.153 779 512 28. 3,173 11,245 6,639 3,94' (D 11372 5,988 506 2,471.2 208.3 74 589,37 33450 54 589,634 24,23^ 38,590 2490 276 20,105 3,240 122 2,19 4' 155 8,206 996 88 254 317 2,354 816 461 69 1.349 20 950 3.43! 1) 634 6,878 1.030 1,31 82 201 5.OW 1,83 797 D 1.050 4.635 783 330 14,351 21,079 201 981 6,929 286 4,473 1,105 352 4,292 1,390 2409 194 22,732 54 12,966 8,477 648 6,220 202 467 71 201 551 117 3.925 128 84 141 3375 176 21 563 165 20 108 71 76 14 51 27 32 50 468 411 3,634 502 2,932 79 122 28,607 7,355 70 958 172 383 15,439 964 371 437 396 84. 82 269 11 656 10 27,866 1.11. 162,419 27^13 87,727 13,71 2.509 81,094 4,177 SURVEY OF CURRENT BUSINESS 52 October 1991 Table 20.1.—Employment by Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1988 [Thousands of employees] Manufacturing All industries All countries Canada ... . ........ .... Europe Austria . Belgium Denmark Finland France .. . .......... .. ......... ...... .... ....... Germany, Federal Republic of Greece Ireland . . Italy . . Luxembourg . ......... Netherlands . ...... Norway Portugal .... ..... Sweden Turkey .. United Kingdom ..... Other ...... ....... Latin America and Other Western Hemisphere Argentina Brazil Chile Colombia ....... Peru Venezuela Other ........ Costa Rica Guatemala Mexico Panama Other . . ... ... ..... ..... . . . ....... Trinidad and Tobago . United Kingdom Islands, Caribbean Other South Africa Other Asia and Pacific China Hone Kong India Indonesia ... ....... Korea, Republic of New Zealand Philippines .. Singapore . Thailand Other ....... International' ........ .... ...... Addenda: European Communities (12)' ....... OPEC4 .... Machinery, except electrical Transportation equipment Other manufacturing Other industries 4,144.1 416.4 593.7 228.1 557.5 665.9 821.2 8613 501.6 163.0 3733 925.4 46.8 483.0 37.4 62.7 42.0 423 45.8 136.9 115.9 54.9 32.7 732 274.9 2,632.6 71.8 1.842.7 151.0 237.9 94.0 3662 250.1 340.8 402.8 2845 87.4 1865 159.8 33.4 124.4 19.5 5.9 365.7 1.0 3.4 .4 .5 6.5 14 4 91.3 10.0 1.2 251.2 1,1 7.0 2.5 16.1 I.I 19.9 .8 .2 32.6 .2 3.4 .8 0 11.7 .6 14.6 .5 .3 62.8 5.1 14.1 3.7 .2 52.3 0 18.6 1.4 .4 57.2 6.3 15.4 6.5 4.2 61.2 9.1 1.6 .4 (*) 4.8 1.9 9.8 2.0 .1 25.4 .6 2.9 .2 (*) 16.7 541.7 11.5 39.4 235.4 7.6 132.0 417.4 4.9 34 7 194 0 7.1 87.1 16.9 1 1 3.5 11 9 0 11.1 37.8 1.7 4.0 29.3 0 14.6 25.6 69.7 0 5.9 86.4 .8 8.9 54.2 .4 7.2 25.7 .5 8.7 144.8 0 2.5 133 0 683 1.7 10.3 24.3 4.9 39.7 2.0 2.0 20.5 7.1 (*) .4 1.8 .3 5.0 24.5 2.1 1.3 10.9 0 11.6 43.5 1.5 .2 2.9 0 5.0 20.6 22.1 155.2 37.5 48.0 13.5 817.0 2.5 9.4 1.0 J 5.3 .1 7.6 5.6 4 .9 1.2 .7 16 25.2 3 1.5 2.5 5.7 1.8 11.6 13 72.2 .2 5.3 .4 1.2 .9 77.9 .1 1,251.2 63.9 1353 661.7 67.4 424.6 14.5 45 8 11.3 16.3 716 10.1 34.8 13 18.3 .6 7.4 .4 .4 6.0 3 37.8 3.2 12.0 (D) 23 5490 205 17.1 23.7 460.1 23.2 4.4 90.2 12.5 1,294.9 369.0 90 49.2 52.0 39 0 363.1 65.8 64.3 18.8 95.9 55.7 55.3 33.6 13.3 2.4 3 .2 .1 .2 .2 2 .7 (*) .4 2.9 3.7 9.1 50.8 9 (D) 10.5 3 .6 19.7 11.5 2.8 3.4 .1 1.7 17.6 .3 2,471.2 208.3 0 60.9 77.7 20.3 l\A 1.2 .4 95.3 .5 3.8 13 41.5 0 0 3.0 89.1 .9 (DD) () 159.7 .2 4.8 53 12.6 9.2 19.7 .8 583 3 61.0 65.8 160.4 193.8 192.8 42.7 40.1 1.5 26.0 21 21 3 .4 75 .3 46.5 59.8 2.1 49.8 .5 1.1 .3 .2 5.3 .4 109.7 103 89.4 0 2.1 1.0 0 6,7 .2 114.0 28.6 5.2 7.0 4.2 2.2 1.2 100.1 1.4 .2 0 98.6 0 0 84.1 0 0 0 84.1 0 0 70.6 2.6 1.1 1.7 63.2 1.0 .1 12.5 .2 .4 3 9.9 13 3 1.7 17.2 .3 .1 .7 .3 .2 .1 .1 15.8 0 0 0 0 0 0 0 0 0 0 8.2 .1 .7 0 33 1.9 0 .2 0 2.1 1.6 .2 .4 .2 .2 (*) .2 .2 .1 3.3 .2 0 1.6 .2 .2 .5 .4 .2 (*) 11.9 5.1 .6 1.1 .4 .7 .9 1.0 1.0 1.1 10.6 .7 13 4.1 4.5 U .1 0 .6 .6 7.0 1.9 .5 1.9 2.8 2.8 3 .3 .7 .1 0 .2 9.8 2.8 6.4 .4 .2 106.8 26.7 .6 11.9 .1 30.8 6.8 0 3.7 0 3 11.1 .8 1.5 .8 23 .9 124.7 171.2 65 5 12 2 35.3 5 40 9 1.2 91 2.3 98.5 15.1 58.8 2.0 90 16 2.6 8.9 .4 4215 7.5 6.0 6.0 397 4 22 2.3 56 2 18 2.5 41 46 4 5 .8 70 5 13 2.2 .2 65.8 .7 .3 20 8 3 .1 0 20 1 (*) 3 14.0 3 1.0 0 6.1 2.7 3 1.3 3.0 .2 23 .1 2.1 2 0 0 .4 .3 .1 1.0 0 0 80.6 40 62 42.0 28.4 14.7 3 8 3.3 10 3 11.2 1.1 1.9 6.6 1.8 16.8 86 5.9 .1 4.9 1 l 3.5 (*) .3 oo o2.2 .5 1 .1 0 2.2 7593 113.0 80 27.3 49.7 7.3 232.4 59.2 54.4 7.6 73.0 40.9 460 24 6 7.8 .3 1.771.7 76.8 o0 o.1 89 0 19.0 5 1.6 (D) 9 8.9 4.0 .9 .9 34.3 .5 1.8 <°>1.2 o 141.0 11.7 107.0 21.6 1.2 1.1 18.3 2.6 33.3 3.6 1.4 1.4 7.9 .6 4.9 1.9 6.0 0 2312 18.5 15.6 35.5 9695 18.3 67 .4 5.9 20.6 534 1 53.5 379.2 6.3 27 1 63 5.2 51.0 5.5 59 8 3.2 .9 9.0 .4 (*) 29.5 0 20.8 3.5 6.0 .5 37 10 2.2 3.5 .4 23 o1.3 (D) 50.3 0 29.2 .4 o .7 2.9 22.1 1.3 1.7 1.6 65.6 (*) 8.2 13 8 129.2 24.6 12 2 90 530.9 1.6 28.1 • Less than 50 employees. ° Suppressed to avoid disclosure of data of individual companies. t. See footnote I to table 2. 2. See footnote 3 to table 4. 3. See footnote 2 to table 2. 4. See footnote 5 to table 4. Primary and fabricated metals 296.1 91.8 15 I 68.3 3.1 5.2 Middle East Israel Saudi Arabia United Arab Emirates ... Other ChemiFood and cals and kindred allied products products Finance (except banking), Services insurance, and real estate 965.5 150.6 9.7 12.4 61.6 669 Africa E<*ypi Total Wholesale trade 6,403.5 40.5 68 2.3 3.2 11.6 5.2 2.2 3.8 1.5 3.9 Other Western Hemisphere Bahamas Barbados Rermuda Dominican Republic Jamaica Petroleum Electric and electronic equipment .1 5.6 o0 o.1 0 (*) 0 0 0 8.2 ,1 2 5.5 24 2.7 4 .6 .2 41.7 0 (*) o 0 1.2 19.3 "I 0 19.2 0 0 0 o0 0 0 0 0 0 0 0 52 .9 o4.1 .1 .2 20.2 5.7 77.7 8.0 .4 2.5 9.0 1.1 39.2 < \ .5 .3 9.4 4.3 .9 1.8 4 5.9 .5 .6 .2 1.3 .7 1.7 .5 0 o 91.1 9.0 .4 0 0 0 0 0 .1 0 6.9 3.1 3 .3 .7 .4 o1.6 o 0 .4 ° 3 351.6 2.4 53 4.5 .8 0 0 198.1 11.9 8.6 4.6 28.1 23.4 42.1 .7 12.6 27.2 24.9 11.5 .6 0 234.6 10.1 0 78.2 1.1 8.9 2.2 .8 12.3 (D\ /D\ 0 73 .7 D ( ) 0 0 0 .2 14.9 (°) (°).9 0 0 D ( ) 0 2.3 0 79.1 0 .4 1.2 4.6 0 0 0 332.4 7.7 12.7 (D) 37.9 ( ls 16.2 1.4 3.8 0 0 389.7 17.5 6.8 41.2 2.5 3.0 4.8 3.5 4.0 3.5 3.4 3 2.6 0 52.3 (*) 10.6 5.7 .7 2.1 /D\ .1 (*) 0 .4 (D) (4 0 239.1 11.5 .4 3.9 33.9 7 32.9 14.5 0 2.0 2 14 9.3 .8 .2 3 .6 23 .5 .5 .4 73 .8 1 .2 .2 (*) (*) .2 .7 21.7 113 (DD) ( ) .4 197.5 .1 3.7 (D) 57.5 2.4 (°)4 2 (°D)' () 10.4 o 75.2 .9 0 168.0 15.5 0 156.3 26.0 SURVEY OF CURRENT BUSINESS October 1991 53 Table 20.2.—Employment by Nonbank Foreign Affiliates, Country by Industry of Affiliate, 1989 1 [Thousands of employees] Manufacturing All industries All countries... Canada 6,621.4 290.8 945.4 46.5 2,7083 Austria ........ Belgium Denmark Finland France 29.7 130.3 20.7 7.5 408.9 Germany, Federal Republic of . Greece Ireland Italy Luxembourg .»..* ..*..,. ^4 Netherlands 551.5 13.5 42.3 186.7 8.0 138.8 Norway Portugal Spain Sweden Switzerland Turkey ... United Kingdom .. Other 27.4 24.0 150.8 36.7 47.6 16.3 864.2 3.5 Latin America and Other Western Hemisphere . South America Argentina Brazil Chile Colombia Ecuador Peru Venezuela Other Africa Egypt Nigeria South Africa . Other Middle East Israel Saudi Arabia United Arab Emirates . Other Asia and Pacific Australia ..... China Hong Kong Z.\ India ...... Indonesia Japan Korea, Republic of . New Zealand Philippines Singapore Taiwan Thailand Other , International 2 Addenda: Eastern Europe3 European Communities (12)* . OPEC f ...» 2.1 A < D >' 5 8.4 .5 .6 5.3 Primary and fabricated metals Machinery, except electrical 221.8 552.7 649.9 534.8 160.4 37.4 39.1 38.4 613 32.7 1,784.9 190.5 254.8 91.1 303.2 254.3 12.6 94.6 9.8 1.5 251.2 1.0 9.7 2.1 .3 3.1 .7 (*) D .7 14.4 (*) .4 8 () 12.5 .3 0 16.8 428.1 6.2 38.9 140.7 7.1 76.5 16.2 2.7 2.2 11.2 0 .7 21.9 1.0 .3 34.1 45.8 1.8 4.9 30.4 .5 17.8 27.3 0 1.6 3.3 .6 73.8 0 7.1 30.3 .2 11.0 () () 0 3.2 18.7 .1 2.1 479.0 D () 87^3 0 3.5 19.9 10.0 D .2 28.7 0 7.3 2.9 .4 91.2 .5 .1 1,028.2 130.0 1S9.1 64.1 166.9 21.0 3.5 6.0 .9 4.0 .6 (D) 3.4 D 541.1 49.1 402.5 8.7 23.2 6.4 3.8 43.3 4.2 61.4 11.6 91.8 11.6 58.7 2.8 41.9 1.1 27.9 2.6 2.3 .7 52.4 1.7 3.9 471.1 9.8 5.8 6.9 65.4 2.2 2.6 5.3 53.8 .9 .6 64.9 1.4 .9 .2 61.4 .7 .3 15.9 .3 .4 .1 8.2 4.5 .2 1.3 .5 .3 3.2 0 0 2.4 .2 0 0 63.1 4.7 1.9 29.6 26.9 10.8 .5 .5 2.0 7.9 46.1 8.7 1.4 3.1 18.7 8.3 .6 2.6 1.4 1.3 *i 120.4 16.8 12.7 6.9 38.2 62.6 2.6 4.2 102.0 24.5 70.7 2.4 4.3 1,416.2 391.9 10.6 78.4 37.8 38.0 388.0 70.0 60.3 22.3 100.4 81.5 63.4 59.9 13.7 28.0 2,539.7 194.5 60,1 ( D )" 5 1.2 D 55.7 8.6 .3 .6 .4 17.0 13.1 (°) 2.9 8 3.7 .1 2.2 1.6 0 58.8 444.0 2.6 2.0 D 6.3 1.8 1.3 9.0 .2 9.7 1.2 1.0 5.7 1.9 5.5 1.2 4.0 (*) 19.1 13.2 5.5 C) .4 820.5 117.9 9.5 50.2 36.0 9.0 235.3 59.6 51.3 10.9 82.4 58.3 50.2 42.4 7.6 1073 .3 1,717.7 66.1 0 180.0 16.1 D 2.8 1013 20.3 1.5 1.2 14.4 3.5 30.9 3.9 1.7 1.4 7.1 1.1 5.5 3.6 5.1 0 248.0 19.4 3S8.4 0 1.3 .7 3.1 21.0 1.1 1.5 2.5 65.6 (*) () 1.1 22.5 .1 27.4 l!9 1.0 .5 2.5 .2 .2 .6 .1 .2 (*) .6 Other manufacturing Finance (except banking), insurance, and real estate 49.9 15.2 120.1 20.4 11.9 10.9 529.4 1.4 C Transportation equipment Wholesale trade 39.9 4,188.8 650.8 62.5 436.9 19.3 40.2 9.3 14.1 61.1 7.3 * Less than 50 employees. Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to table 1. 2. See footnote 1 to table 2. 3. See footnote 3 to table 4. 4. See footnote 2 to table 2. 5. See footnote 5 to table 4. 0 71J () Chemicals and allied products 1^01.2 604.3 23.9 19.2 21.7 515.8 20.6 3.1 Other Western Hemisphere Bahamas Barbados Bermuda .................. Dominican Republic Jamaica Netherlands Antilles Trinidad and Tobago United Kingdom Islands, Caribbean . O:her Food and kindred products Electric and electronic equipment () (*)' 17.9 8D () 0 0 0 0 <D> 0 0 0 0 () 8 127.4 10.2 D 1.6 0 0 21.4 4.9 .9 2.6 .6 4.8 114.3 1.0 0 0 113.2 0 (*) <°) 114.4 (*) 208.6 112.7 (D) 81.9 96.1 0 0 0 96.1 0 0 1.3 79.2 .9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 78.2 6.9 15.4 7.4 4.4 60.2 (D) 1.7 8 8 0 0 0 127.1 0 0 0 143.0 24.8 12.4 1.2 3.9 10.1 .3 47.3 2.2 1.0 .3 .3 27.9 6.3 178.2 8.2 .2 () 22.0 18.9 34.5 23.4 25.8 5.2 290.8 J 0 85.0 <D> 0 (D) 0 5.5 2.4 7.0 1.3 () 101.2 .6 D 38.2 22.9 3.3 6.6 3.1 2.8 .7 .8 5.3 .3 12.7 .5 .7 .3 9.6 1.6 .1 2.5 .1 .2 () 1.9 13.8 .8 3.5 0 .5 8 8 16.5 .1 .1 .1 15.7 .3 .1 8 1.8 .1 () 6.9 (•) 1.1 .2 .1 (*) .6 A .1 A .6 2.8 8 .1 142.0 (D) 8 5; 1.4 40.8 D () 17.1 3.5 (D)J 0 0 0 324. 5.6 1.8 12.2 2.4 .6 69.7 25.4 2.7 .4 8.0 .6 24.9 37.8 3.8 2.1 24.1 (*) 20.4 5.3 5.2 14.8 D ( ) 18.8 1.2 74.3 11.5 .8 0 87.5 8.5 () 18.0 3.3 3.7 0" 5.4 .2 6.2 .4 .2 2.7 2.9 8 D ° () 0 0 0 22.4 0 0 0 22.4 0 0 93.3 .9 64.1 1.2 12.8 24.3 5.5 314.9 483.0 112.8 29.5 .6 12.8 42.8 3.8 2.4 3.6 3.2 4.6 P (*) (D) 12.0 265. C) 8 9.9 8 36.0 53.0 20.7 3.3 3.3 (°)0 Pi 11.4 15.9 2.5 2.6 2.2 257.0 8.7 October 1991 SURVEY OP CURRENT BUSINESS 54 Table 21.—Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Country, 1988 and1989 All countries Canada ....... ...... ... Belgium Denmark Finland ........... .... Germany, Federal Republic of Ireland Italy Netherlands Norway . .. . Spain Sweden Switzerland Turkey United Kingdom Other Latin Amerka and Other Western Hemisphere ... Brazil Chile Ecuador Peru .. . ......... ....... Other Central America Costa Rica .. Honduras .... .. Mexico .... ...... . .......... «... ..... ...... Other Other Western Hemisphere Bahamas Barbados ... ....... ...... Bermuda .... . Dominican Republic Jamaica Netherlands Antilles Trinidad and Tobago United Kingdom Islands, Caribbean Other „ Africa . Egypt |^. . . .. .. • ....... .... .. South Africa Other Middle East Israel Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China India Indoncii Japan .... Korea Republic of New Zealand Philippines Singapore ... Taiwan Thailand Other ........... ............ ......... ... .. .... International2 Addenda: Eastern Europe 3 ,. ., , European Communities (12)* OPEC' . .• 1989 > Millions of dollars Net income Total assets Sales 950394 160,670 927386 156,201 8,092 487,028 525,074 38,906 247 3.243 5,232 1,584 27,484 22,238 198 4,092 3.644 163 1.296 2.483 2,423 40.432 65.708 69.365 99,630 4,586 34 1,789 809 2,919 10,365 12,089 1,993 38,246 27,209 171 1 299 1 912 4,814 40.644 41,975 551 6 820 9,792 211 3,051 1365 1,974 15.700 21.200 239 7.291 4,072 4,410 35 721 41661 -17 1,251 540 196.074 145.062 12,320 87 437 682 8332 138,624 83,194 3,167 38.955 44,711 4,413 4.341 211 2,163 20,919 27,229 213 1 925 1 599 201 4,131 4.063 IS 596 552 -78 1,030 1.703 4,713 373 4,257 67 739 1456 1,920 18,621 19.635 8 583 555 20 655 412 41 1,029 554 849 13,987 10,038 977 7612 1709 25 636 436 3,244 80.034 19.861 140 1 636 3818 83 809 866 10,419 1,088 35,403 96 462 475 834 1,253 123 980 3.903 33.763 83 751 839 630 665 3.387 20 325 288 12,619 1,114 12,685 99 1.591 2.385 152 2 177 1 948 245 4.382 2377 612 4,763 3,680 545 10,788 7313 77 1,069 848 5,222 252 3,562 59 1,797 2328 157 1 606 1.968 8,951 130354 138,224 1,937 31,307 34,070 -61 489 183 U80 11335 11,078 27 352 300 874 5,649 7,355 2,320 53,409 50,359 85 1,551 1640 461 5.190 4,355 56 3,013 2,499 190 3,151 2,550 1,070 13,022 8,285 487 4 835 3 656 232 2,504 3,669 53 1.087 813 399 11,001 4379 o o 431,681 459,900 24.402 18,278 * Less than $500,000. Suppressed to avoid disclosure of data of inidvidual companies. 1. See footnote 1 to table 1. 2. Sec footnote 1 to table 2. 3. Sec footnote 3 to table 4. 4. Sec footnote 2 to table 2. 5. See footnote 5 to table 4. MOFA Majority-owned foreign affiliate D 1988 Millions of dollars 0 33.225 1.703 U.S. U.S. Number of merchan- merchanemployees dise dise (thouEmployee exports imports compensation sands) shipped shipped by to MOFA's MOFA's 90,780 38,087 27,407 153 2,406 118 86 3,055 4.045 49 1,218 1,637 98 4,462 87 151 998 337 1,231 91 7.184 2 75378 117,418 36,161 21,983 12,985 68,995 678 3.779 637 226 10,311 18,136 161 876 5,405 312 3344 632 258 2.933 956 2140 73 17,910 27 8,430 5,925 564 3.905 132 435 55 173 555 107 2.155 78 71 133 1,673 162 37 350 90 16 610 1.537 2,384 1.053 622 72 654 73 51 291 140 258 4 5,052 9,408 10,043 2,916 308 1.332 104 287 109 69 602 106 5,548 72 79 127 4.975 266 29 2353 97 1,720 165 287 171 944 15 35 70 115 20 21 3 210 48 189 63 60 55 12 14,980 2,427 38 2,246 19 160 5.036 564 U01 199 356 1.812 480 398 43 918.9 9 so 26 28 21 47 23 17 521.1 52.5 340.2 12 3 38.7 8.1 15.4 44.9 9.1 365.9 19.0 15.8 23.5 282.4 22.1 3.1 31.9 6.5 1.9 3.0 8.1 3.7 1.4 2.4 1.4 3.6 7 835 13 76 63 414 &0 37.1 331 2,732 233 2354 72 73 14,026 4,170 41 572 43 342 6,212 256 385 335 278 630 479 152 90 446 15 5,730 127 72 74 5,218 239 <*) 1.760 80 35 34 168 8C) (*) 109 (D) 1.332 8 2,006 484 2,178 689 1,624 63 521 3,261 1.553 465 (*) 72 0 25,419 1.038 4,760.5 8763 2,103.3 19.0 107.7 17.0 5.6 283.6 464.2 9.3 36.7 152.0 7.5 101.8 13.4 20.0 114.4 24.7 38.1 7.5 679.9 .9 0 12,452 1,614 0 64,263 3,485 Total assets Sales Net income 1,067,793 1,015,263 72,406 172,134 7,090 178,148 S70S3S 41383 576392 339 5314 3.667 1.660 29,113 26.865 176 4,109 3.835 130 2.961 1368 2,410 70.852 47,479 105,972 4,878 83,449 36 1,935 902 11,355 3,104 12,949 1,703 45302 32301 249 1,448 2370 5,944 44,391 55,753 705 7,604 9384 185 3.264 1.895 2,042 23.599 18.189 341 7,635 4.411 5.597 36,402 39.472 26 1.696 738 166.979 11,795 230,480 64 504 782 137,193 39,034 3.870 23.631 2,452 3,862 491 1,839 2,241 649 21,014 682 397 607 10,979 8,034 316 77.144 3,845 993 37,026 644 1,445 27.922 789 4,115 363 12,016 2384 2.270 1.610 5352 .U.S. U.S. dumber of merchan- merchanemployees dise dise (thouEmployee exports imports sands) shipped shipped compensation to MOFA's MOFA's 97,077 37343 29310 162 2,226 127 86 3,550 5,107 48 1,284 1,785 103 3,652 145 94 1,699 458 1,244 43 7,687 11 87323 46.145 3,948 30,377 2,013 3,912 578 1,122 2,762 1,433 21,439 759 679 1,159 16.476 1,876 491 11,769 11,095 3,021 -263 2,915 230 12 21 -57 42 121 2,861 37 -1 32 1,194 1,628 -27 2,805 275 1.412 170 298 95 69 472 14 7,350 88 55 152 6.640 233 182 5.887 1.007 104 2,636 133 330 1.065 41 539 28 916 287 306 158 164 940 439 406 169 102 68 66 71.9 8.9 57.1 2.5 3.4 11301 1,927 4,957 2,375 2.042 19.939 1329 720 11.484 578 1,138 2,719 652 716 404 11,630 1.881 2057 2,692 4,799 7306 1.013 3,408 1341 1,844 6333 169.7 2.9 41.5 10.6 33.8 119.2 25.4 59.4 15.6 67.8 50.3 44.1 20.0 9.4 142,085 35,968 654 11,833 272 7,382 54,474 2,213 4.566 2.689 2,401 10377 4.955 3,295 807 160,408 37,255 252 15303 323 6,109 58,083 2,451 5395 3,212 2,921 15,524 6.664 5,473 1,043 340 71 121 65 83 10,416 2,408 -47 1,366 9 1,289 2,340 94 378 59 215 1,125 659 482 38 223 10,158 4,927 492 0 1,994.2 154.2 59 516,669 21362 508319 17,051 34,181 1.775 137 40 142 26 91 39 84348 38,923 15,196 61 869 151 12 1364 2,045 20 569 646 105 920 17350 3.184 39 2.186 23 151 6,256 712 870 254 308 2,335 704 458 69 0 27,361 935 5,111.4 889.2 2308.0 7,037 499 5,148 183 436 59 195 404 114 2.718 124 74 140 2,190 169 21 469 160 15 99 52 51 9 40 23 20 698 74 48 293 283 18.1 112.8 18.3 7.2 338.1 491.0 13.1 40.2 160.9 7.7 123.4 18.5 21.3 119.0 25.9 40.1 9.4 741.6 1.4 964.9 513.0 47.6 341.3 17.2 37.0 7.0 13.4 42.6 6.8 413.9 22.4 17.9 21.6 328.8 20.0 3.1 38.1 8.4 1.3 2.7 14.3 6.5 .4 2.1 1.3 1.1 83.2 103 6.0 24.8 42.0 2316 272 2,384 72 88 693 12.0 52.2 1.8 3.8 17304 1,339 1 3,418 (D) 634 2,230 613 1,316 81 184 5,041 1,822 788 16,089 5,005 33 814 40 368 6,673 381 354 397 278 800 690 183 73 (*) 479 7722 193.7 3.7 59.2 10.2 35.2 131.2 27.4 57.6 20.9 63.1 69.8 52.2 36.7 11.1 24.0 1 13,181 2,425 5 69,747 3.391 .3 2,187.5 146.3 30 761 599 37 5301 25 10,400 2,602 134 1,796 127 367 95 59 23 (*) 6,794 54 26 125 6,461 128 (*) 1,005 8 3 156 52 192 ( ? (*) 2314 129 42 183 131,470 26,105 75,060 746 4.005 698 316 11,664 18,666 197 954 6.032 277 3,901 778 323 3,335 1,084 2,236 117 19,696 36 1349 15 944 511 80 280 10,223 55 SURVEY OF CURRENT BUSINESS October 1991 Table 22.—Selected Data for Majority-Owned Nonbank Foreign Affiliates, by Industry of Affiliate, 1988 and 1989 1989' Millions of dollars Millions of dollars U.S. Number of merchanemployees dise (thouEmployee imports compensation sands) shipped U.S. Total assets All industries , Petroleum Oil and gas extraction Crude petroleum (no refining) and natural gas ... Oil and gas field services ............ Petroleum and coal products manufacturing Integrated petroleum refining and extraction Petroleum refining without extraction Petroleum and coal products, n.e.c Petroleum wholesale trade Other Manufacturing Food and kindred products Grain mill and bakery products „.. Beverages Other Chemicals and allied products Industrial chemicals and synthetics .. Drugs „ „ Soap, cleaners, and toilet goods A gncultunil chciftiCils Chemical products. n.e.c Primary and fabricated metals Primary metal industries Ferrous Nonferrous Fabricated metal products Machinery, except electrical Farm and garden machinery Construction, mining, and materials handling machinery Computer and office equipment.. Other Electric and electronic equipment Household appliances Household audio and video, and communications equipment Electronic components and accessories Electrical machinery, n.e.c Transportation equipment Motor vehicles and equipment Other Other manufacturing Tobacco products Textile products and apparel Lumber, wood, furniture, and fixtures „ Paper and allied products Printing and publishing Rubber products Miscellaneous plastics products Glass products Stone, clay, and other nonmetallic mineral products . Instruments and related products other :. ....; z;;;:::z:i; Wholesale trade Durable goods "Z". '. Nondurable goods Finance (except banking), insurance, and real estate ... Finance exccDt biuilun*? ..... Real estate Holding companies, except bank holding companies .... Services Hotels and other lodging places Business services „ Advertising Equipment rental (ex. automotive and computers) .... Computer processing and data preparation services .. Business services, n.e.c Automotive rental and leasing, without drivers -.. Motion pictures, including televsion tape and film Health services • Engineering, architectural, and surveying services Management and public relations services Other . Other industries Agriculture, forestry, and fishing Metal mining Nonmetallic minerals Construction Transportation Communications and public utilities . Retail trade 950394 151,670 78,452 71,683 6,769 42,386 23.829 18,276 282 23.264 7368 324,643 32,443 10,353 6,718 15372 70,650 30,442 21,065 10,224 1,372 7.548 18310 5.795 1,815 3.979 12,716 58,350 2359 6,956 37,651 11,184 25,324 4,009 Net income t 927386 66399 166,071 7,290 3.970 33,020 3.915 29,743 55 3,277 1.694 57,785 1.343 23,946 314 33.490 37 349 1,254 67.652 373 7.614 462,874 32310 3.149 48,817 862 17302 1,099 7,957 1,188 23,358 89,319 7,894 38,609 3,743 2,654 24,077 702 15.897 125 1,761 670 8,976 21,699 1,783 728 6,283 134 1,750 594 4333 1,055 15,415 83.814 5,899 59 4.485 206 9352 4,901 55.372 734 14,604 2,243 33,795 264 4,883 304 3.321 2.767 1.280 18.655 13.257 395 6,936 5,290 5.146 56.860 109,242 5.178 53,480 106,127 -32 3,116 3380 6.697 76.187 62306 810 5,727 6,625 271 4.159 3.057 116 1,910 1.499 1,075 14.607 12,828 214 3,110 2,460 590 9,074 5,995 597 7.294 5,963 322 2,504 2,607 329 3,665 2.904 2,123 20,268 15.536 250 3,868 3.031 96376 185,640 7,983 4,932 64384 117,488 3,051 68,152 31,792 43,480 14,761 312,939 2,282 19,000 176379 2,293 23,049 70,827 -138 1.249 5,913 181 10,325 59.620 31327 1,904 31326 190 2,264 2,618 1,030 16,278 14.637 159 3.168 3.641 87 3,043 2,914 541 6,255 4,840 243 3,812 3,242 49 1,006 2,120 226 3,433 2,614 33 684 1,278 73 3.132 2,200 160 3.175 3.927 142 1356 2,133 33,293 33,441 1,650 90 1,799 1349 316 4.058 7,794 341 3.148 4,943 -25 909 2.851 147 5.007 3.139 362 4,487 5,273 223 1,529 3353 513 21.413 12,133 * Less than $500,000. D Suppressed to avoid disclosure of data of individual companies. 1. See footnote 1 to table 1. MOFA Majority-owned foreign affiliate Sales exports shipped to MOFA's MOFA's 90,780 1,960 914 679 235 214 28 135 51 807 25 63,118 2.175 957 144 1,074 6,691 3,320 2,069 371 203 727 1.463 508 62 446 956 8,496 329 1.134 5.445 1387 7,515 518 75378 8382 4,762 (DD) ( ) 1.650 (D) 3 2,470 0 57,731 758 126 207 425 3,202 2,080 614 46 148 314 2.024 1,245 215 1.030 778 9,189 961 1.469 5361 1398 9.144 546 1,063 612 6,784 5,621 751 764 29.957 ' 27,386 26,076 29,495 1,310 461 6.029 6.822 85 (D) 438 307 457 83 2,018 865 70 94 494 795 125 556 152 185 223 243 1,484 2,920 D 483 ( ) 7,214 24343 4,942 17,100 2,271 7,243 1 29 1 (°] 0 c2 0 D (•) <) 63 308 0 8 63 248 C) 113 122 (D] (D! j 1 7 8 1,021 315 182 152 30 89 (°! (D 361 56 2 <*) 0 0 0 0 0 1 1,687 490 1.016 834 182 (D (*) 0 (D 117,418 8371 2.347 1.558 789 4,926 3,697 1,197 32 1,325 273 74312 5,743 2,225 560 2,957 12,597 4.125 4,447 2,440 230 1,355 4,129 843 305 538 3,286 15.227 789 1,630 9.661 3.147 6391 1.130 504 3,331 1,626 15,405 14.425 980 14.619 791 892 410 2320 612 2,047 1.085 582 858 4,140 681 15386 11,972 3,414 4,491 2372 1,762 82 75 7305 645 3,184 1,244 721 976 1,243 176 140 266 691 953 450 6353 394 771 575 196 1,143 81S 160 3367 4,7603 253.4 96.0 64.0 32.0 108.7 743 32.8 1.6 36.0 12.7 3,058.1 303.6 93.2 29.8 180.6 478.4 131.2 174.3 114.6 10.7 47.5 179.4 35.3 12.2 23.1 144.1 423.2 24.4 71.0 187.5 140.3 447.8 62.8 41.9 248.6 94.5 5663 532.9 33.3 659.4 35.4 69.6 18.0 106.3 30.0 91.5 47.9 26.2 36.6 152.8 45.1 462.4 348.0 114.4 120.6 53.2 62.6 2.8 2.1 305.4 50.2 158.5 34.2 23.7 24.7 76.0 8.4 7.2 13.2 20.4 18.9 28.6 560.6 92.4 41.5 30.8 10.7 47.2 41.5 17.8 3203 Total assets Sales U.S. US. merchan- merchandise dise Employee Net mpons exports ncome shipped shipped compensation to MOFA's MOFA's 1,067,793 1,015,263 72,406 7361 179363 150,045 3.727 36.098 74.403 3.848 33,392 68,962 -121 2.706 5,441 1,529 71.950 45,533 1,068 30,008 28.199 449 41,563 17.055 12 379 279 1,828 65350 23,163 477 6,266 6,947 367324 504356 34,496 3,817 50,113 33310 1,478 15,294 8.994 1.175 9383 7,264 1,165 25,236 17,252 7,722 94,654 77,256 3,774 40.651 34,275 23,100 2*251 20,398 790 18.918 12,011 117 1,897 1,734 789 10.089 8.838 1,651 20,880 18,971 440 5.686 5.320 23 1,184 702 417 4302 4,618 1.211 15,194 13,651 68,156 97.290 6.578 123 5398 2,696 410 9,666 6,763 63.800 5.165 45,035 879 18.426 13.663 2.412 37.281 27,789 249 5.111 4,365 2,971 14,202 6,251 63,763 60.857 2,906 77,879 7,415 4,107 2,275 18,209 2.823 6,404 5,723 3,383 3.872 20,765 2.903 105,202 70,869 34,333 366,160 202,810 75,709 7.164 80,478 38,726 3,261 17,798 4,849 1,041 8,022 3,887 2.653 2.269 998 2.214 5,516 4,016 40335 1,299 7.705 4,733 2.972 2,336 6.93 7,79 14,27 595 3,707 1,185 20,831 382 7,632 114,380 5,727 111,170 5,674 53 3.210 89,958 6.590 1,095 10,368 391 5.314 101 2388 1,230 17358 210 3.528 502 9.089 408 6,797 345 3.265 396 4,357 1,679 23.071 233 4,024 8307 204,145 134,116 5,105 70,030 3,202 50,242 17344 24,118 4.291 24,763 2,479 -231 1,147 214 11,004 2,665 33315 146 2,212 1,188 17,189 105 3,017 67 890 671 8396 345 4,686 13 1.179 620 2,25 45 715 76 3.388 323 2,893 254 3.688 1333 42,942 58 1392 54 4,146 209 3,013 -155 1.133 213 4,307 489 4.97 427 3,67 592 24,25 97,077 2,448 764 571 193 374 79 249 45 1,298 13 66302 84348 10,643 7,127 7,115 12 2,103 1.063 149 891 7,405 3,919 1,855 434 272 925 1.824 761 76 685 1,062 11,890 468 1375 8,034 2,012 7.680 557 SSI 177 147 556 3.670 2320 629 93 107 520 1,856 792 80 713 1,064 12.108 1,207 1,292 8.186 1.423 9.138 588 591 5350 982 27,813 27.394 419 7.788 166 489 212 1.080 102 692 593 364 253 3,492 344 26337 18.725 7,612 3 (• 0 0 3 469 5 282 2 (D 159 (D! < 774 7.018 758 28375 27337 U38 8.115 170 1.090 725 2.765 81 591 116 188 284 1,796 310 8^65 6303 1,962 (* 0 0 0 (* 83 ( 57 ; (* i: 1 164 1316 232 11 69 47 15 (DD ( 78 (D) (D) 667 3 2394 (D) 64342 (DD ( ( (*: 2 1315 41 95 69 25 34 (DD ( 7 131,470 9,228 2,657 1,940 717 4.955 3.784 1.125 47 1.356 259 80,920 6.040 1,755 940 3346 13,582 4,437 4,479 2,877 221 1.568 4,084 783 184 599 3,301 16,593 847 1,619 10,173 3.954 6.980 1.170 495 3.460 1,856 16358 15,448 1,111 17.082 810 1,103 686 3367 703 2,170 1.077 786 1,039 4,603 740 18,152 13,989 4,163 4,990 2,650 2.015 7 252 9337 71 5368 1,46 18 1.45 2,26 24 13 31 69 1.02 134 834 35 79 59 20 96 1,08 94 4,19 umber of mployees (thousands) 5,111.4 240.9 88.6 61.6 27.0 104.7 74.8 27.7 2.2 35.7 11.8 3,2463 304.6 74.4 33.7 196.5 477.2 134.C 155.3 126.C 10.3 51.« 176.S 33.( 8.C 24.S 143.S 504.< 27.< 72.: 239.( 166.( 450.' 61/ 33/ 252.' 102. 598. 566. 32. 733. 40. 81. 38. 126. 30. 95. 46. 29. 35, 162. 46. 498. 366. 132. 115. 49 61 2 1 411 48 228 35 4 35 151 9 8 IS 20 18 58 598 84 39 29 9 40 49 40 343 REGIONAL PERSPECTIVES Personal Income by Region, in the first; by State, nonfarm personal first-quarter declines. Payrolls in servincome growth slowed in Montana, ices and in government increased more Second Quarter 1991 Idaho, and Colorado. in the second quarter than in the first. In the Mideast, personal income Personal income growth picked up in X ERSONAL income growth in the increased 1.0 percent in the second all Mideast States. Nation picked up in the second quar- quarter after declining 0.4 percent in In the Great Lakes region, personal ter of 1991 after slowing in the four the first. Despite the upswing, per- income increased 1.2 percent in the preceding quarters. It increased 1.1 sonal income growth in this region second quarter after declining 0.1 perpercent in the second quarter after in- remained below the U.S. average for cent in the first. Payrolls in mancreasing 0.3 percent in the first (table the third consecutive quarter. All ufacturing and in the transportationI).1 In 1990, personal income had in- industries except farming contributed public utilities group increased in the creased 2.6 percent in the first quarter, to the upswing in personal income second quarter after first-quarter de1.5 percent in the second, 1.3 percent growth. Construction payrolls declined clines; the upswing in manufacturing in the third, and 0.9 percent in the less in the second quarter than in payrolls was due, in part, to an infourth. the first (table 2). Payrolls in manu- crease in motor vehicle production afThe pickup in personal income facturing, in the transportation-public ter large declines in the two preceding growth was widespread by region and utilities group, in trade, and in the quarters. Payrolls in construction deby industry: All regions except the finance-insurance-real estate group in- clined less in the second quarter than Southeast and all major industries ex- creased in the second quarter after in the first. Payrolls in trade and in cept government contributed. Pickups in personal income growth were largest Table 1.—Personal Income for the United States and BEA Regions: Percent Change from in the Rocky Mountain, Mideast, and Preceding Quarter [Not at annual rates; based on seasonally adjusted data] Great Lakes regions (chart 7). Personal income growth picked up Nonfarm Farm Total in 33 States (chart 8). In partic1991:11 1991:1 1991:11 1991:1 1991:1 1991:11 ular, sharp upswings were recorded 1.0 0.3 6.1 0.3 United States 1.1 in the farm States of North Dakota, 1.4 1.0 31.3 -39.9 1.6 0 Rocky Mountain 1.0 -.4 -.4 6.5 9.3 1.0 Mideast Montana, Kansas, South Dakota, and Great 1.3 -.3 -5.1 1.2 -.1 31.6 Lakes 1.1 .8 5.0 -10.4 .3 Idaho. (For estimates by State, see 1.3 Plains 1.0 .3 13.1 .2 -2.5 1.2 Far West "State Personal Income, Summary Es1.2 1.2 13.7 1.4 1.0 -9.4 Southwest .2 -.1 6.7 10.4 .2 -.1 New England timates for Second Quarter 1991" on Southeast 1.0 1.0 .1 1.2 13.3 .9 page 59.) In the Rocky Mountain region, perCHART 7 sonal income increased 1.6 percent in the second quarter after remaining unTotal Personal Income changed in the first. The pickup was (Not at Annual Rates: Based on Seasonally Adjusted Data) more than accounted for by a sharp in- Percent Change Percent Change crease in farm income after a sharp de- 2.5 2.5 • 1990:IV-1991:l cline; the upswing in farm income pri2.0 • 1991:1-1991:11 marily reflected Federal subsidy pay- 2.0 ments to wheat farmers. Personal 1.5 1.5 H income growth picked up in all Rocky Mountain States. Excluding farm in- 1.0 1.0 come, personal income in the region 0.5 grew slower in the second quarter than 0.5 H NOTE.—This article was written by Howard L. 1 • 1 0 0 Friedenberg and Rudolph E. DePass. -0 5 United States Rocky Mountain U Mideast -0.5 Great Lakes 1. Percent changes shown in this article are not at annual rates. 56 1 Irl — — —— i—^ U.S. Department of Commerce, Bureau of Economic Analysis Plains Far West Southwest New England Southeast 57 SURVEY OF CURRENT BUSINESS October 1991 services increased more in the second quarter than in the first. Personal income growth picked up in all Great Lakes States. In the Plains region, personal income increased 1.3 percent in the second quarter after increasing 0.3 percent in the first. Farm income and payrolls in durables manufacturing increased in the second quarter after first-quarter declines. Construction payrolls declined less in the second quarter than in the first. Payrolls in trade and in services increased more in the second quarter than in the first. Personal income growth picked up in all Plains States except Iowa. In the Far West, personal income increased 1.2 percent in the second quarter after increasing 0.2 percent in the first. Payrolls in construction and in durables manufacturing declined less in the second quarter than in the first. Payrolls in the transportationpublic utilities group and in trade increased in the second quarter after first-quarter declines. Payrolls in services increased more in the second quarter than in the first. By State, personal income growth picked up in California and Washington; it was unchanged in Oregon, and it slowed in Nevada. In the Southwest, personal income increased 1.4 percent in the second quarter after increasing 1.0 percent in the first. Farm income and payrolls in the transportation-public utilities group increased in the second quarter after first-quarter declines. Payrolls in nondurables manufacturing, in retail trade, in services, and in government increased more in the second quarter than in the first. Personal income growth picked up in all Southwest States except Arizona. In New England, personal income increased 0.2 percent in the second quarter after declining 0.1 percent in the first. Payrolls in construction, in nondurables manufacturing, in the transportation-public utilities group, Table 2.—Wage and Salary Disbursements (Payrolls) by Industry: Percent Change from Preceding Quarter [Not at annual rates; based on seasonally adjusted data] Durables manufacturing 1991:1 United States . . . Rocky Mountain Mideast Great Lakes Plains Far West Southwest New England Southeast , -2.5 -.5 -1.7 -6.1 -1 1 -2.5 2.6 -.4 -1.4 1991:11 0.8 -1.5 .4 2.8 1 7 .3 -.5 -1.6 1.0 Construction Nondurables manufacturing 1991:1 -O.5 1.4 -3.1 -1.1 6 2.2 .1 -.8 .2 1991:11 1991:1 1.0 0 .9 .7 6 .3 2.7 -.6 1.5 -3.1 3.8 -5.3 -2.9 -2 4 -4.2 3.2 -8.5 -2.8 1991:11 -1.4 .5 -.5 -.8 -3 -1.1 -6^1 -2.8 Wholesale trade Transportation and public utilities 1991:1 -0.5 -2.1 -1.4 -3.1 -1 0 -.7 -1.0 -.4 2.7 1991:1 1991:11 -0.1 3.1 -3.9 1.0 9 -2.1 3.4 -1.6 2.7 0.3 .6 .6 .4 o.4 .6 -.3 .1 1991:11 1.0 1.6 .8 1.1 1 2 1.5 1.3 .1 .7 -0.4 1.5 -1.1 .1 1 i -1.8 1.0 -1.3 .1 1991:11 1.2 1.8 1.1 1.3 1 4 1.3 2.0 -.1 1.2 1991:1 0.9 2.7 -2.5 2.4 36 2.2 3.6 -.1 2.5 1991:1 1991:11 1.7 2.4 1.7 2.0 22 1.8 1.4 1.0 1.3 1991:11 0.8 3.2 .2 .8 1 4 .8 1.2 .7 1.0 CHART 8 Personal Income Growth by State: Second Quarter Compared With First Quarter H States with faster growth CD States with slower or equal growth U.S. Department of Commerce, Bureau of Economic Analysis Government Services Finance, insurance, and real estate Retail trade 1991:1 2.1 2.5 2.0 2.5 25 2.4 1.4 1.1 2.3 1991:1 1.8 2.6 .4 1.6 24 3.5 .7 1.4 2.2 1991:11 U 1.4 .5 .9 1 3 1.4 2.8 .3 1.6 58 and in retail trade declined less in the second quarter.than in the first. Payrolls in wholesale trade and in thefinance-insurance-realestate group increased in the second quarter after first-quarter declines. Payrolls in services increased more in the second quarter than in the first. By State, personal income growth picked up in Connecticut, New Hampshire, SURVEY OF CURRENT BUSINESS October 1991 and Rhode Island; it was unchanged in in the first quarter. Farm income Vermont, and it slowed in Maine and and payrolls in the transportationMassachusetts. public utilities group, in wholesale trade, in thefinance-insurance-realestate group, and in government inIn the Southeast, personal income creased less in the second quarter growth, in contrast to that in the other than in the first. Personal income regions, slowed down in the second growth slowed in all Southeast States quarter; personal income increased 0.9 except Kentucky, North Carolina, and percent after increasing 1.2 percent Georgia. October 1991 59 SURVEY OF CURRENT BUSINESS State Personal Income, Summary Estimates for Second Quarter 1991 Table 1.—Total Personal Income, States and Regions 1 Millions of dollars, seasonally adjusted at annual ratct] •' United States l 11' III' IV' I' 11' IV III* •• 11' 111' IV 1.1 3.7 a 3 13 .6 .8 -.1 .1 3 958306 13,508 14,290 105.862 195.417 404,052 225,677 955,215 13,635 14,463 106,483 193.904 399,985 226,744 964390 13.853 14.525 107.346 195312 404/46 228.708 1.0 1.6 .4 .8 .8 781344 235391 94,630 172.804 192.131 86,888 788,178 238,502 95,147 173,392 193.682 87,455 787,745 237.687 95,810 171,283 194,715 88,249 797304 239,705 97,081 173.846 197.400 89.272 1.2 .8 311,261 47,430 44373 82.106 89.200 27.691 9.364 10,897 312356 47.820 44,661 82,565 89,905 27,300 9,288 10.817 319335 48,166 46.758 83.374 91,132 28.144 10,806 11.454 320,773 49.498 45,815 84340 91,299 28,653 9,704 11,263 324349 49,450 46,776 85.777 92,012 29301 10.018 11315 964397 59,416 33.203 236,938 109.058 54,255 59.849 32307 106.777 51,778 76,115 120.449 24,251 976339 60,560 33.288 240.169 110.346 54.875 60,740 32,865 108,072 52.818 77.013 121.696 24,398 991,095 61,238 33370 244.179 111,960 55,793 61,742 33.165 109.905 53.566 78.199 123,167 24,811 996,025 1,007319 1,017,048 63,421 62,921 61,888 35.195 34,967 33.698 250,089 247.915 245365 114,637 113,117 112.180 56,524 57.025 56,478 64.163 63,893 62,620 34.601 33.498 34,159 110.985 109,493 108.829 54,873 54,439 53.863 80,541 78.834 79.831 125,892 123346 124,825 25,628 25,435 25.027 394,067 56.582 20,765 46,737 269.983 403366 57,647 21.102 47318 277,298 411,134 58396 21.378 48,089 283.071 418,181 59.529 21,894 48.839 287.919 424,431 60,011 22,333 50.034 292.053 428311 61,044 22383 49.703 295.481 434,782 61,876 22.912 50,424 299.570 113341 58367 14.119 11.390 22.418 6,847 116,438 59.753 14.654 12,111 22,926 6.994 118300 60,816 15,070 11,841 23,409 7,164 120,491 61.864 15,382 11.942 23.970 7,333 121,969 62,669 15.345 12.032 24,509 7,414 125369 64,164 15,893 13.006 24,907 7,600 125,610 643<X 15.766 12,463 25,270 7.611 127,658 65.274 16.172 12,733 25.746 7,734 721,926 572.739 20 657 45.019 83311 734,683 582,578 21,141 45.755 85,208 743375 587,264 21,819 46,972 87,319 767,208 606,897 22,511 48,041 89.758 778,0* 615.010 23,005 48.865 91,215 790,640 624.423 23,707 49,586 92.924 800,264 631300 23,967 50398 94,799 802,186 631.466 24,212 50,837 95.670 811,601 639,093 24,405 51,413 96.691 10,757 19,651 11,272 20,152 11,624 20,687 11,453 21,178 11.731 21.782 11,860 22349 12,028 23.011 12,207 23308 12,456 23.748 12335 24,026 277,225 749.533 721.629 289.696 727,406 208.847 391,112 205.105 719.262 281,062 762 297 729,668 292.561 738.722 211,192 394,794 208314 732,692 283302 771,755 736,749 292,654 743,294 212,940 397.475 210,615 745,853 285,877 783,514 746.526 301330 760,032 216.202 406,051 215,604 754,186 292317 809^40 772.027 311,261 789.005 225,312 425,188 223.470 789,299 295,076 819,918 781.844 312.356 800,687 228,396 431,869 227,099 801.972 294,540 825,146 788.178 319,835 802,669 230.699 438,405 231,880 812,012 294,311 820,633 7S7.745 320.773 809,806 233.436 444,044 233,448 814,178 294,871 828.866 797,304 324,849 817.827 235,588 449,351 236.850 823.757 265,748 75,790 18,555 124,329 21,248 17,061 8,765 272,765 78,030 19,087 127,490 21,794 17,439 8,925 277,225 78,594 19,738 129,499 22,328 17,786 9.281 281,062 80,031 20.000 131.030 22337 18,047 9,415 283302 80,878 20,123 132.073 22,608 18,163 9,458 285377 81.733 20,462 133.012 22.713 18,374 9,582 288,982 82.059 20,868 134379 22.950 18.717 9.809 292317 83.642 21,138 135.741 23.199 18,904 9.894 295,076 84,540 21.380 136,845 23,321 19.024 9,966 294340 85,126 21,197 136.280 23.118 18,932 9,887 Mideast 804,455 11,050 12,897 87.646 165 567 338 446 188,849 818343 11.402 13.157 89,263 168 885 343 994 192,141 838,160 11.851 13,449 92,162 173.044 350,653 197.001 856,989 12,100 13,622 93,872 177,626 359,636 200,133 871302 12.426 13.419 96,123 179,122 365,071 205,341 886,099 12,655 13,604 97,543 181,964 372 695 207,637 896334 12,758 13,506 98,815 184.124 377,052 210,579 910,760 12,936 13.868 100,442 186319 383 953 213.242 926354 13.206 13,756 102,806 189,204 390.116 217.265 940,745 13.354 13.879 104,272 192,283 395,478 221.479 953,017 13.521 13.994 105.584 194.670 400,759 224,489 666383 201042 80981 148,184 164 006 72,670 675,887 202.346 81 687 150.528 167,422 73,903 688,169 205,666 82,850 153.787 170.543 75.323 699,150 209,110 83,432 156.586 173.053 76.969 721,629 216.227 87,771 160,248 177,520 79.863 729,668 218,952 88 720 162316 179,185 80394 736,749 221,416 88,864 164,283 181,1J5 81,070 746326 224,959 89,880 166.330 182.968 82,389 759,296 228.832 92,343 167.022 186.544 84354 772,027 231.914 93.102 170,796 190323 85.692 269,328 41 870 38,278 70 354 77 419 23,501 8,672 9,236 271334 40,961 39,535 70 349 79 118 24.394 8.427 9,049 269368 40,467 39,158 70,767 79,860 23.468 7,491 8.6S8 277,003 41 050 40398 72,162 81,550 24,463 8,062 9.118 289,696 44.722 41,021 75,725 83,531 25,604 9,154 9,937 292361 44,640 41,803 76.732 84 674 25.769 8,942 10,001 292,654 44,176 41388 77.464 85,433 25.492 8.668 9,832 301330 45,885 43,252 79,415 87,015 26,221 9,425 10.318 309,076 48,064 44,207 80,847 88,052 27,801 9,285 10.820 » 820,415 50,951 27,886 196 625 94 009 46,454 52,730 28,232 89 793 43 422 65 895 102,903 21.515 842323 52,462 29,546 201,785 96 285 47.590 53,962 29,072 91,961 44,743 67 556 105.599 21.761 861,073 53,484 29,422 208,144 98,265 48.526 54.467 29,419 94,734 45,696 68,825 108,027 22,064 878,073 54,632 29.866 212.760 100,173 49,084 55,469 29.999 96.741 46,619 70159 110,233 22338 901,768 55,618 31,371 219.093 102,400 50.797 56,112 30.961 99.485 48,330 71471 113,124 23,004 913326 56305 31,176 223.761 103 605 51.182 56,538 30.995 100.932 48 802 72310 115,045 22.776 919,068 56,889 31.066 227,067 104,480 51,792 56,847 30.995 101301 46,043 73364 116,126 22,999 938318 57,781 31,545 231,523 105.943 52.614 57.785 31.403 103,840 50,202 74,405 117,890 23,387 ...... 349392 50 639 18401 41,977 238,375 358353 51,913 18,862 42,711 244,868 362,274 52.969 19.008 43,259 247,038 369,038 53319 19 406 43,984 252,128 378^67 54.911 19.728 44,982 258,647 382335 55,330 20.125 45386 261,694 385,693 55,788 20344 45,660 263,901 ........ 101329 52,811 12.222 9 963 19952 6,381 104,032 54,159 12,582 10.207 20,474 6.610 105300 54,730 12.886 10,189 20,916 6^80 108,094 55,865 13.300 10.979 21,323 6.626 110,408 57,026 13.773 11.227 21,637 6,744 112,402 57,913 14,068 11.464 22 168 6.788 Far West California ................. Nevada Oregon ......., Washington 644,938 514 202 17 539 39,590 73.607 661,240 526.985 18,228 40,545 75,482 676,601 539,086 18,779 41389 77,147 689334 548.374 19,309 42.787 79.065 708,913 563.369 20,059 43,892 81393 9.896 17.802 10,045 18,103 10,118 18330 10.361 19,068 254.065 692 862 666 883 269,328 659,860 191,532 360,968 187,909 655,098 260.103 705,020 675,887 271,834 675.956 196,681 371,086 193.034 671.160 265.748 720,698 688,169 269,868 694392 200^54 374,186 196.056 686.470 272.765 737,394 699,150 277,003 708,459 203,874 381,447 200,328 699,655 ....... Plains Iowa Minnesota Missouri Nebraska Nonh Dakota .... South Dakota Southeast Alabama Arkansas Florida Georgia ..... ..... ..... Louisiana . . Mississippi North Carolina South Carolina Tennessee Virginia West Virginia ...... Southwest Arizona New Mexico Oklahoma . Texas ........... . Rocky Mountain Colorado Idaho Montana ............ Utah Wyoming Alaska Hawaii ...... .. ...... 1990:111991:11 294,871 84,745 21,262 136.837 23.169 18.929 9,929 260,103 73.940 18.042 122 072 20 834 16.740 8,475 Great Lakes Illinois Indiana Michigan . Ohio Wisconsin 1991:11991:11 294311 84.256 21310 136,852 23,064 18.921 9,909 254,065 72,584 17,551 119 179 20 263 16,261 8.228 ..... 11' 3,938,505 4,020,763 4,095342 4,180,075 4389315 4351302 4394,637 4,469322 4370392 4,637318 4,699^17 4,743364 4,758374 4,809363 New England Connecticut Maine Massachusetts New Hampshire Rhode Island Vermont District of Columbia Maryland . . . . New Jersey New York Pennsylvania . Percent change 1991 1990 1989 1988 State and region .6 -.2 0 0 .5 .2 1.2 .9 13 13 1,4 1.2 23 3.7 4,7 2.9 1.7 2.3 3.3 33 3.4 43 1.8 3.6 4.2 .8 2.3 3.2 4.4 4.3 4.9 4.5 3.2 5.8 7.0 2.2 5.7 .9 4.1 .8 .7 .9 1.3 .9 .4 13 1.4 .8 .9 .9 4.7 5.7 4.1 3.9 3.9 5.6 53 2.7 3.9 4.6 3.4 13 2.1 1.5 .8 5.0 1.4 SJS 1.4 13 1.5 5.6 7.2 4.9 5.8 1.4 1.6 1.2 2.6 2.2 1.9 1.6 5.9 55 5.1 6.6 7.4 5.5 1.2 .8 1.1 43 3.9 6.1 5.2 1.1 6.0 .6 1.2 5.7 7.5 .2 1.0 .8 2.4 U Census Divisions New England Middle Atlantic East North Central West North Central South Atlantic .. . East South Central West South Central Pacific . ' Revised. f Preliminary. 1. The personal income level shown for the United States is derived as the sum of the State estimates; it differs from the national income and product accounts (NIPA) estimate of personal income because, by defini* tion, it omits the earnings of Federal civilian and military personnel stationed abroad and of U.S. residents 288,982 796,585 759.296 309.076 779,019 222.294 417,869 219,561 778,210 1.2 33 1.3 1.0 .9 1.2 13 1.2 4.4 3.7 4.6 5.7 6.0 4.4 employed abroad temporarily by private U.S. firms. U can also differ from the NIPA estimate because of different data sources and revision schedules. NOTE.—The quanerly estimates of State personal income were prepared by Francis G. McFaul, James P. Stehle, Isabelle B. Whiston. and James M. Zavncl, under the supervision of Roben L. Brown, 60 SURVEY OF CURRENT BUSINESS October 1991 Table 2.—Nonfarm Personal Income, States and Regions [Millions of dollars, seasonally adjusted at annual rates] Percent change State and region 1991:11991:11 1990:111991:11 3,887489 3,968,060 4,052,279 4,133,984 4,223,056 4,291,610 4346414 4,412,680 4402441 4477,097 4,649370 4486,140 4,701313 4,748,702 United States . 3 13 4 .8 New England Connecticut . Maine Massachusetts New Hampshire Rhode Island Vermont 253390 72,422 17,449 118,973 20,208 16,223 8.115 259349 73,755 17,932 121,846 20,771 16,697 8,347 264,777 75456 18.404 124,042 21,168 17,001 8.606 271397 77,819 18.950 127.233 21.723 17.389 8.783 276324 78,377 19,571 129.231 22,270 17.739 9.137 280,194 79,821 19,844 130.771 22,481 18,002 9.274 282,449 80,675 19,975 131.819 22450 18,115 9313 284,996 81429 20,294 132,759 22,658 18,328 9,428 287,992 81,803 20,686 134,302 22,886 18,671 9.644 291402 83,408 20.978 135,483 23,136 18,862 9,735 294,236 84,322 21,227 136,613 23,264 18,989 9,820 293,797 84,927 21,048 136,078 23.069 18,899 9,776 293,489 84,040 21.162 136,615 23.007 18,883 9,782 293,995 84418 21,108 136,585 23,108 18.888 9,787 5 .6 -.3 0 .4 0 0 Mideast Delaware District of Columbia , Maryland New Jersey New York Pennsylvania t ,,,, 802.215 10,917 12,897 87,275 165,298 337,772 188.055 816,445 11,242 13,157 88,843 168,588 343,332 191,282 835349 11,629 13.449 91,657 172,692 349,922 195,999 854386 11.892 13,622 93,393 177,298 358,948 199,233 882300 12,421 13,604 97,048 181,609 371,717 206.400 893329 12464 13406 98373 183,808 376,170 209,408 907,663 12.737 13,868 99.988 186.005 383,057 212,007 922,698 12.986 13.756 102,229 188.840 388.996 215,891 93734 13,150 13,879 103,755 191.930 394,408 220,162 949396 13,334 13,994 105,107 194,361 399,818 223,283 956,048 13,352 14,290 105,441 195,127 403,236 224,602 952,200 13.458 14,463 106.012 193478 399,051 225.639 961378 13.658 14.525 106.852 195,173 403,665 227,505 1.0 14 .4 .8 .8 1.2 .8 24 3.9 4.7 3.0 1.7 23 33 Great Lakes . Illinois Indiana Michigan Ohio Wisconsin ..... 658,130 197,896 78,976 147,263 162,740 71,255 669301 200,458 80,637 149.718 166,357 72,632 685,618 205,648 82,748 153,182 169,863 74,177 697,480 209,227 84,182 155,884 172,652 75435 868,129 12.200 13.419 95.538 178,758 364,123 204,091 711,658 213.352 86,174 158,879 176,063 77,189 721,030 216,817 87300 160,866 177,867 78,180 730496 220,018 87.893 163,239 180,168 79.279 739,707 223,338 88,733 165.260 181,912 80,463 749,435 225.968 90,625 165,665 184,876 82,300 764443 230,095 91,850 169,754 189,181 83,663 775,924 234,021 93,717 171,980 191,032 85,173 782,288 237,100 94,212 172,499 192409 85,968 779,996 235463 94,427 170.199 193,299 86408 789,951 237,690 95,881 172,803 196.079 87,498 13 .9 14 14 1.4 1.1 33 33 4.4 1.8 3.6 4.6 Plains 260486 38434 37,578 68,608 78,031 21,564 7,992 8,281 264356 39,398 38,076 69.767 79.238 21,953 8.040 8,384 270301 40,352 38,791 71,408 80.602 22(423 8,141 8482 276,146 41,243 39,823 72,714 82,212 23,032 8.344 8.777 281,265 42,056 40,499 74,355 83.497 23.465 8,436 8.957 285,025 42,483 40,967 75,559 84,585 23,838 8431 9,063 289,939 43,416 41,713 76,923 85,754 24,224 8.661 9.249 294,200 44,025 42,424 77.859 86,916 24,715 8.776 9.486 299,221 44,669 43,047 79,493 88,271 25,239 8.856 9.645 303409 45,513 43,787 80466 89,208 25467 9,011 9,856 306340 45.941 44.091 81.271 89.950 26,006 9,122 9,959 308,676 46,307 44,405 82,039 90,319 26,271 9,216 10,118 312,152 46,717 44,859 83,371 91,081 26,623 9.290 10,211 1.1 Minnesota ...... Missouri Nebraska North Dakota . South Dakota ., 255,774 37,775 36,728 67,679 76,378 21,232 7,900 8,082 .9 1.0 1.6 .8 1.3 .8 .9 43 4.6 4.2 4.9 3.2 5.5 4.9 5.9 Southeast ...... Alabama !."Z Arkansas ........... Florida Georgia Kentucky Louisiana .......... Mississippi ..... North Carolina . South Carolina , Tennessee . Virginia West Virginia . 809310 50,107 26.900 194364 92.912 45490 52.000 27,307 88,454 43,062 65,284 102.364 21,466 829,040 51,473 27,497 199,306 95,072 46,616 52.866 27,948 90,378 44,302 66,868 105,010 21,705 847349 52,292 27,839 205,132 96,859 47424 53,695 28.455 92.792 45,290 68.122 107344 22,005 863,738 53,349 28.235 209,973 98486 48.106 54375 28,875 94,916 46,148 69331 109465 22,278 885,030 54364 28.857 216.148 100.641 49.422 54,915 29,676 97,350 47.774 70446 112396 22,940 899,002 55,343 29,340 220,760 101.889 49,922 55,758 30.148 98.853 48,277 71.760 114,242 22,711 906,776 55,864 29.777 224,412 102,963 50,697 56340 30,407 99.700 45,610 72,655 115,411 22,940 925,622 56,747 30,311 228,935 104,507 51,375 57,222 30,746 101,907 49,686 73,684 117.168 23.335 948,755 58.228 31.072 234.170 107,462 52.839 58,757 31,477 104332 51330 75321 119.619 24,148 963,052 59,354 31407 978,960 60,214 32,109 241,635 110,719 54,757 61,098 32402 107,861 53,259 77.620 122,464 24,722 983320 60.805 32372 243,105 110,966 55,346 61,981 32,786 106,960 53,493 78,157 122,902 24,946 993,687 1,003,197 61,859 62,335 32,920 33.395 245,424 247,452 111,857 113,291 55338 55,911 62,862 63,231 33,234 33.669 107,498 108.879 54,061 54,464 79.151 79,872 124.134 125.166 25350 25,532 1.0 .8 1.4 .8 13 1.0 .6 1.3 13 .7 .9 .8 .7 45 5.0 6.0 3.9 4.1 4.2 5.7 5.3 2.9 3.9 4.7 34 5.1 Southwest „. Arizona New Mexico Oklahoma .. Texas 344450 50,024 18.114 40,855 235,657 351,674 51,121 18448 362487 52,864 19,050 42,685 248,088 370424 54,043 19,377 43,492 253.613 375,974 54,617 19,750 44.051 257455 380,706 55,153 19,965 44446 261,042 387434 55,842 20,249 45,298 266,145 395317 56,997 20,698 46,157 271.964 403419 57,936 21,020 46.823 277,738 412^21 41,573 240,433 357,254 52,257 18,720 42.149 244,127 58.935 21456 47.616 284,114 416,955 59,443 21.847 48,204 287,461 422,041 60,495 22020 48485 290,741 427,083 61,199 22,496 48,995 294.393 15 15 15 .8 13 SJ& 5.6 7.0 4.6 6.0 Rocky Mountain . Colorado Idaho Montana ...... Utah . Wyoming . 99^32 52.202 11.581 9,796 19,751 6302 101,725 53,181 11,856 10,038 20,192 6.457 103,417 54,013 12,098 10.180 20.629 6,497 105,251 54.857 12,375 10,481 21,025 6414 107413 56,078 12,690 10,713 21,375 6.657 109,440 56,886 12,973 10,995 21,898 6.688 110,927 57.717 13,146 11.119 22,167 6,778 112,780 58,521 13.452 11,318 22,614 6,874 115,191 59,628 13,853 11493 23,067 7.048 117374 60,717 14,138 11,674 23.642 7.203 119,606 61,781 14,414 11,874 24,233 7,303 121,490 62308 14,659 11,995 24486 7,442 123,158 63451 14,881 12,231 24,988 7407 124,439 64.095 15,057 12,274 25.429 7484 1.0 .9 15 .4 13 1.0 6.0 5.6 64 5.1 7.6 S3 636^45 507,984 17,485 38,706 72.370 651460 519.806 18,160 39435 74,059 665319 530.784 18,702 40365 75,467 679,104 540,863 19,234 41,644 77363 697494 555.120 19.947 42.746 79,782 710,750 564,679 20447 43392 81,631 724,162 574,899 21.039 44.692 83,532 732,081 579.372 21,713 45.729 85.268 755^32 598,277 22395 46,789 87,771 766481 606,624 22,898 47,650 89.409 780,260 616,802 23.612 48458 91,289 789,957 624326 23,873 49,080 92,678 792,139 624,289 24,114 49.794 93,942 800,238 631,153 24,298 50,183 94,604 1.0 1.1 .8 3 .7 4.0 6.1 S3 5.8 9,886 17457 10,033 17,845 10,101 18,240 10,344 18,795 10/745 19,394 11,260 19.896 11,612 20,432 11,437 20,920 11.715 21407 11345 22,078 12,014! 22,745; 12,191 23,255 12,442 23.484 12420 23.750 .6 1.1 5.7 7.6 271,897 735,479 697,480 270301 700374 199,661 373383 196,400 689,008 276,324 746,972 711,658 276,146 718.407 204,008 380,876 200,879 707,786 293,797 822,965 782588 306,340 795,457 227,094 430,018 226.653 801430 293,489 818568 779,996 308,676 802557 229481 435,108 229.987 803,951 293,995 826.343 789.951 312,152 809,819 231,787 440,014 232.432 812509 5 1.0 13 1.1 .9 1.0 1.1 1.1 1.0 .8 24 3.3 43 3.7 4.7 5.8 6.0 44 Iowa Far West California Nevada Oregon Washington Alaska . Hawaii . 238,103 108.875 53,679 59,794 31,961 105.805 52,421 76.307 120,947 2438 -.1 .1 4 Census Divisions New England Middle Atlantic East North Central West North Central South Atlantic East South Central West South Central Mountain Pacific .... „ 253390 691.125 658.130 255.774 653,711 188,283 355,412 185555 646,503 259349 703,203 669,801 260486 669,015 192,904 362,369 189454 661,279 264,777 718,613 685,618 264,856 686,157 196393 367.811 193.096 674,957 280,194 759.726 721,030 281.265 729,804 207,173 386,705 204355 721359 282,449 769385 730496 285,025 735,480 209,623 391,705 207,084 735.166 284,996 781,070 739,707 289,939 752,131 212,552 398.976 210,583 742,726 287,992 793,727 749,435 294.200 770,033 217,865 407,951 215582 766,058 291,602 806400 764443 299521 78U32 221302 415.863 219529 777,605 294,236 817,461 775,924 303,509 793,095 225,094 424,937 223,708 791,408 'Revised. ' Preliminary. Nam.—Nonfarm personal income is total personal income less farm earnings. Data Availability Quarterly estimates for the years 1969-87 are available from the Regional Economic Information System, Regional Economic Measurement Division, BE55, Bureau of Economic Analysis, U. S. Department of Commerce, Washington, DC 20230, or call (202) 254-6630. BUSINESS CYCLE INDICATORS Data tables Footnotes for pages C-l through C-5 Charts Historical data for selected series Business cycle expansions and contractions Specific peak and trough dates for selected indicators Titles and sources of series Annual Revision of Composite Indexes The composite indexes of leading, coincident, and lagging indicators (series 910, 920, and 930) have been revised from January 1986 through August 1991. These revisions incorporate revised data for component series but do not involve changes in the components of the indexes or in the standardization or trend factors. The ratio of the coincident to lagging composite indexes (series 940) and the diffusion indexes based on the leading, coincident, and lagging indicator components (series 950,951, and 952) have been revised for the same period. Historical data for these indexes and their components are shown on pages C-25 through C-44. C-l C-6 C-7 C-25 C-45 C-46 C-47 Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided through the courtesy of the compilers and are subject to their copyrights. Current and historical data for the series shown in the C-pages are available on printouts, diskettes, and the Commerce Department's Economic Bulletin Board. For more information, write to Statistical Indicators Branch, Business Outlook Division (BE-52), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. NOTE.—This section of the SURVEY is prepared by the Statistical Indicators Branch. Year Series 1990 1991 Series title and timing classification no. Aug. 1990 Oct. Sept. Nov. | Dec. Jan. Feb. Mar. | Apr. May | June | July Aug. '145.5 12 r i5.1 72 '145.5 0 | Sept. 1. CYCLICAL INDICATORS 1.1 Composite Indexes The Leading Index 910 • • 8 (8) (20) (29) (92) (99) (19) (106) (83) 950 « Composite index of leading indicators, 1982=100 (L,L,L)§ Percent change from previous month § Percent change over 1 -month span Afl§ Percent change over 3-month span, AR § 144.0 -.4 .... -39 -4.0 Contributions of leading index components: * Average weeklv hours mfQ (LL U 5 Average weekly initial claims for unemployment insurance (inverted) (L,C,Ltt 8New orders in 1982$, consumer goods and materials (L,l,L) § Vendor performance, slower deliveries diffusion index [L,L,Lj § ... Contracts and orders for plant and equipment in 1982$ (L,L,L) § Building permits, new private housing units (L,L,L) § Change in unfilled orders in 1982$, durable goods, smoothed (Jam. Change in sensitive materials prices, smoothed Stock prices, 500 common stocks, NSA (L.L.L) (L,L,L)t§ Money supply M2 in 1982$ (L.L.L) § Index of consumer expectations, NSA (L,L,L) Diffusion index of 11 leading indicator components: Percent rising over 1-month span § Percent rising over 6-month span § .01 -.05 -.62 .01 -22 -.12 -.10 '144.3 -1 2 -135 '-8.2 r '-8.8 '-12.0 -13.4 '-11.7 '139.9 '-1.1 '-12 8 '-9.7 '-08 '-22 143.2 -.8 141.5 -12 '-.04 '-.12 o '-15 '-26 M5 .15 '-.23 -.05 '.30 '-.18 '-.10 -.04 '.01 '-.19 .02 -.32 .05 -.24 -.03 -28 -.01 -.26 -.12 -.15 -.15 -.15 -.16 -.29 -.30 .14 '-.13 .07 0 '-.31 '-.08 -.16 .03 .08 -.03 -.08 -.10 -.47 -.15 -.53 .04 '139.6 '141.9 '143.0 '.3 5.6 3 9.8 92 '3.4 '7.6 .8 97 '6.7 '143.8 .6 6.9 10.5 -.08 '-.20 -20 -08 23 15 '23 30 .10 -07 '.13 -.19 -.04 -.07 '-.12 .34 .11 .05 .07 .13 .04 .02 .16 -.14 .06 .01 .10 -.14 .33 .14 '.34 .01 '.30 '-.02 -.06 '-23 -.15 23 '.03 -.09 -.03 '-.12 '140.4 '1.2 '147 '-7.4 1.4 08 -23 '.03 -.29 -.13 .22 -20 '.07 .05 -.15 -.06 -.18 -.07 0 -.18 -.10 -.05 -.11 '145.4 '-1 '-.8 '141.5 '138.8 '-.6 '-6.7 -.2 -25 .06 0 -.08 o 25 .07 -.06 -.13 -.10 -.05 -.06 .59 .01 .11 .01 -.02 .03 -.02 .08 -.01 0 o '4.5 '22 '-.14 .03 .03 -.04 '-.17 -.06 -.09 .13 '-07 -.06 '.04 .01 '-.10 .09 .03 .06 25 .15 23 .83 -.36 -.12 .16 .03 .04 27.3 18.2 45.5 59.1 54.5 40.9 72.7 63.6 86.4 72.7 81.8 63.6 '63.6 72.7 36.4 '45.5 182 36.4 27.3 '126.8 1126.8 .23 '-.05 •16 38.3 33.0 '31.8 13.6 27.3 9.1 91 o 132.8 '134.0 '132.8 '-.9 '-1Q2 '-7.8 '131.5 '-1.0 '-11.1 '-11.1 '130.1 -1.1 '-12.1 '-112 '128.9 '-.9 '-10.5 -13.0 '127.0 -1.5 '-16.3 -112 '126.3 '-.6 -6.4 '-9.6 ' 125.7 '125.9 '126.5 '127.0 ' 127.0 '-5.6 -3.4 -.5 2 1.9 .6 .5 5.9 42 .4 4.8 3.5 0 0 '-.03 -.19 '-.09 -.55 -18 '-.04 '-.16 .10 -.41 -.40 -.10 32 -28 -.53 -.15 -.82 -16 -.19 -.02 -24 0 .16 24 21 24 23 .11 -.12 -.14 .13 .45 .11 -22 -.19 .15 -18 -.11 .07 23 '.06 '.05 '0 '-.10 o 250 0 25.0 0 0o 25.0 25.0 50.0 50.0 75.0 100.0 '75.0 75.0 2 100.0 50.0 '62.5 2 '118.5 '1192 '119.8 119.3 '119.2 '117.5 '115.8 113.7 '113.3 112.3 1 '-1.0 -7.5 -15.8 '-112 '-16.0 '~172 '-19.7 '-13.5 '-4.1 '—11.6 '-10.1 3 -5.5 -.31 -26 -.15 .35 -26 -.20 -.58 -.13 '-.22 '-.32 .13 -26 '-.04 '.13 -.02 The Coincident Index 920 • * (41) Composite index of coincident indicators. 1982=100 (C,C,C)S Percent change from previous month § Percent change over 1-month span, AR§ Percent change over 3-month span, AR§ -.3 '... (57) -1.8 '-5.2 .03 '-.08 -.23 .03 '.31 Contributions of coincident index components:» Employees on nonagricultural payrolls (C.C.C) § Personal income less transfer payments in 1982$ (C.C.C) Industrial production (C C C) Manufacturing and trade sales in 1982$ (C.C.C) § -.03 -03 -.93 Diffusion index of 4 coincident indicator components: Percent rising over 1-month span Percent rising over 6-month span 54.2 50.0 50.0 6 250 0 119.2 M19.0 "119.1 118.6 '1.0 '-3.3 '-4.9 '-1.7 '-1.0 -.05 '.39 -.03 .20 '0 -.20 tei 951 -.1 -3.3 -3.2 . '-.47 0 0 '1.0 '-.02 '-.14 .18 2 20 '—2 '-1.9 2 -.6 0 '.02 '.10 '.03 100.0 The Lagging Index 930* Composite index of lagging indicators, 1982-100 (Lg,Lg,lg)§ rerceni cnange irom previous montng Percent change over 1-month span, AR§ Percent change over 3-month span AR § -.6 -.5 '-5S -.04 -.10 .03 .07 -26 0 .6 62 '-4.9 '4.1 '2.7 o 0 .26 0 .26 .17 -.19 -.13 -.09 -.13 .02 .03 -.28 l (91) (77) (62) Contributions of Jagging index components: Average duration of unemployment (inverted) (Lg,Lg,Lg) * § Ratio, mfg. and trade inventories to sales in 1982$ (Lg,Lg,Lg) § Change in labor cost per unit of output, mfg., smoothed (\ /\ I n 1 n\ *- (109) 101 (95) (120) 952 940 • lLg,Lg,L.gj •• Average prime rats, NSA {Lg,Lg,Lg) Commercial and industrial loans in 1982? (lg.Lg,Lg)§ Ratio, consumer installment credit to personal income Change m Consumer Price Index for services, smoothed (LqiniaUS. Diffusion index of 7 lagging indicator components: Percent rising over 1-month span§ Percent risina over 6-month soan I Ratio, coincident index to lagging index, 1982-100 (L,l.L)§ -.05 0 0 .02 0 26 .10 0 .78 0 .05 -.02 -.02 -.13 '-22 '-.06 '-.14 '-.12 '-.54 '0 -.03 -.16 -.34 -28 .03 .06 .02 .14 .05 -.10 -.14 -.19 42.3 41.1 '21.4 50.0 35.7 35.7 '50.0 35.7 35.7 35.7 57.1 42.9 '1115 '110.9 '109.8 '108.1 111.4 '112.6 N 0TEi —The following current high values were reached before August 1990: January 1984—BCI-940 (116.1), 0 0 .17 .39 0 -.41 -.12 -.19 .03 -.29 -.37 -.40 -.19 -.34 0 .08 '.0 '-.57 >-28 24 .14 -.14 -.38 -.34 -.34 -.1 '-.10 78.6 42.9 42.9 14.3 28.6 21.4 14. o 7. 0 '21. o 3 '50. o '105.5 '107.1 '1092 '106.0 '105.9 -.03 '111.7 '112. '112.9 112.1 3 -2.1 0 '-23 '-25 '-.06 '27 5 30.0 '113,1 Sec page C-6 for other foomotes. October 1989—BCI-930 (120.3), and June 1990—BCI-910 (146.3) and BCI-920 (134.6). C-l SURVEY OF CURRENT BUSINESS C-2 Year Series October 1991 1991 1990 Series title and timing classification no. 1990 Sept. Aug. | Oct. | Nov. | Dec. Jan. Feb. Uar. May Apr. June Aug. July Sept.* 1. CYCLICAL INDICATORS - Continued 1.2 Employment and Unemployment 1 t 21 • 5* Marginal employment adjustments: Average weekly hours mfg (L L L) Average weekly overtime hours mfg (L C L) Average weekly initial claims for unemployment insurance, thous. 408 3.6 382 409 3.8 '370 40 9 3.7 '387 40.7 3.6 425 40.6 3.5 '460 407 3.5 455 40.4 3.4 '444 40.3 3.3 '477 40.3 3.3 512 45 • Job vacancies: Index of help-wanted advertising 1967=100 (L Lg U) Ratio, help-wanted advertising to unemployment (L.Lg.U) 129 .559 127 .539 122 .512 116 .483 107 .434 108 .423 100 .386 97 .354 60 48* 42 41 • 963 40 • 90* 37 43* 45 91 • 44 Employment: Employee hours in nonagricultural establishments, bil. hours, AR (U.C.O. Persons engaged in nonagricultural activities, thous. (U.C.C) Employees on nonagricultural payrolls thous (C C C) Diffusion index of employees on private nonagricultural payrolls, 15fi inrfi KtriA^' Percent rising over 1 •month span Percent rising over 6*month span Employees in goods-producing industries, thous. (L.C.UJ Ratio, civilian employment to population of working age, percent (U.Lg.U). Unemployment: Number of persons unemployed, thous. (LXg.U)* Civilian unemployment rate percent (L.Lg.U) + , ..... Average weekly insured unemployment rate, percent ( U g . U ) ' t § • Average duration of unemployment in weeks (Lg.Lg.Lg) t Unemployment rate, 15 weeks and over, percent (Lg.Lg.lg)* 40.2 3.3 472 40.4 3.4 '434 40.8 3.7 '418 40.7 3.7 '399 -41.0 3.8 419 '40.9 '3.7 428 95 95 .342 94 .324 96 .327 92 .330 .322 91 .319 '91 ".321 201.65 M99.73 '200.63 '201.64 203.49 203.86 204.76 202.06 202.62 203.34 200.83 201.16 200.40 199.43 200.62 114,728 109,971 114.538 110,160 114,689 110,113 114,558 109,982 114.201 109,761 114,321 109,621 113,759 109,418 113.696 109,160 113,656 108,902 114,243 108,736 113,319 108,887 48.5 437 24,958 62.7 47.8 386 24,937 62.5 45.1 37 2 24,842 62.6 41.4 34 8 24,705 62.4 40.3 30 9 24,481 612 42.0 288 24,375 62.3 38.5 267 24,181 61.9 36.9 312 24,039 61.8 38.6 295 23,877 61.7 38.5 '343 23,794 62.0 51.1 "409 23,847 61.5 45.8 MS 9 23,792 61.6 '51.3 ''54.6 '49.7 '23,798 61.5 '23,820 61.3 '23,783 61.6 6.874 5.5 2.4 12.1 12 7,015 5.6 2.4 12.3 1.3 7.087 5.7 2.5 12.4 1.3 7,142 5.7 2.6 12.0 1.3 7,337 5.9 2.7 12.4 1.4 7,600 6.1 2.8 12.4 1.4 7,715 62 2.9 12.4 1.5 8,158 65 3.0 12.8 1.6 •B 8^74 6.6 3.3 13.7 1.8 8,640 6.9 3.3 12.9 1-6 8,745 7.0 3.2 14.2 2.0 8,501 6.8 3.1 13.9 1.9 8,488 6.8 3.0 14.0 1.9 8,442 6.7 3.1 14.0 1.9 '4,143.1 '24 '1,806.9 '3,391.7 '3,397.0 '2,851.9 '2,854.8 '506.4 '504.7 '3,401-2 '2,858.9 '503.8 32 13.0 1.7 113,576 113,474 113,150 113.859 108,885 '108,859 '108,936 '108,960 1.3 Production and Income 50* 49 52 51* 53 • 47 • 73* 74* 124 82* Output and income: Gross national product bil. 1982$, AR (C.C.C) Percent chanqe from previous Quarter AR Value of goods output bil 1982$ AR (C,C C) Personal income bi! 1982$ A R ( C C C ) Personal income less transfer payments, bil. 1982$, AR (C,C,C) .... Wages and salaries in mining, mfg., and construction, bil 1982$ AR (CCC) Industrial production indexes 1987=100 Total (C.C.C) Durable manufactures (C,C C) Nondurable manufactures (C.L L) Capacity utilization rates (percent) Total industry (L.C.U). Manufacturing (L.C.U) , „, -t „ 3,375.9 2,865.5 522.1 4,153.4 -16 1,821.0 3,3832 2,871.0 513.4 3,400.2 2,8832 515.9 110.6 113.8 108.0 109.9 112.5 108.4 108.3 109.9 107.7 83.6 82.8 83.0 82.2 81.6 80.7 4.157.3 1 0 1829.3 3,406.1 2,896.8 532.0 4,170.0 1 4 1,839.7 3,414.9 2,906.6 532.0 3,404.2 2,896.1 529.3 109.2 111.6 107.8 110.5 113.5 108.1 83.0 82.3 83.7 82.9 „„,.., „ 3,372.9 2,837.8 500.4 4,118.9 -5 1,787.5 3,383.3 2,846.4 502.6 3,397.6 2,859.4 505.2 105.0 105.0 105.4 105.5 106.0 105.9 106.4 106.7 106.5 107.3 "107.3 '107.6 108.0 '108.1 '108.5 ' 108.0 '108.0 '108.7 '108.1 '108.9 '108.7 79.1 78.0 78.4 772 78.6 77.5 79.1 77.8 79.6 78.3 '80.0 '78.7 '79.8 '78.5 '79.7 '78.7 4.124.1 -28 3,366.9 2,838.3 506.4 1.7975 3,366.5 2,837.0 502.9 3,378.7 2,8452 500.6 107.2 107.5 107.4 106.6 107.2 106.8 105.7 106.1 106.0 80.6 79.4 80.0 78.9 1.4 Consumption, Trade, Orders, and Deliveries 7* 8* 92 • 32 • 57* 75 • 59 • 58 Orders and deliveries: Mfrs' new orders durable goods bil. 1982$ (L L L) Mfrs.' new orders, consumer goods and materials, bit.1982$(L,L,L) Mfrs' unfilled orders durable aoods mil 1982$0 .Change from previous month bil 1982$ ... ....... Change from previous month, bil. 1982$, smoothed (L,L,L)t Vendor performance, slower deliveries diffusion index, percent 122 123* 107.54 93.07 422,157 1.59 -25 48.7 95.40 87.67 415,076 -7.08 -1.13 49.9 98.70 83.11 416,085 1.01 -1.35 46.8 96.39 83.95 415,859 -23 -1.34 43.3 96.04 84.84 415,953 .09 -1.13 43.3 91.52 81.94 412,651 -3.30 -1.31 42.4 94.88 87.35 409,051 -3.60 -1.72 45.1 '96.76 '89.50 406,602 -2.45 -2.05 46.0 '98.91 106.62 '102.33 95.46 '93.18 '92.43 '92.85 87.26 402,758 '409,158 '408,963 '405,814 '-3.15 '-.20 -3.84 '6.40 '-.71 '-.82 -2.49 '-1.55 49.7 49.4 47.5 50.8 5,746,859 '488,655 '479.460 108.7 107.8 107.3 1 466 800 "122,353 '121 986 478,691 108.6 121,268 471.024 106.5 121,488 461,198 105.7 118849 457,123 105.6 117,118 459,053 104.7 119,724 457,033 104.7 120 307 465,334 105.5 119815 469205 106.6 120,719 470,536 '474,815 '472.884 108.4 '108.3 '108.0 120666 '121295 '120,148 '120,991 106.54 96.32 420,696 -1.88 .01 50.9 (LLL). Consumption and trade: Manufacturing and trade sales, mil. 1982$ (C.C.C) Index of industrial production, consumer goods, 1987-100 (C.L.C) . Sales of retail stores, mil. 1982$ (U.L.U) Indexes of consumer attitudes: Consumer sentiment, U. of Michigan, 19S6:U1OO, NSA 81.6 76.4 72.8 63.9 66.0 65.5 66.8 70.4 87.7 81.8 78.3 82.1 82.9 82.0 83.0 Consumer expectations, U. of Michigan, 1966:1-100, NSA 70.2 62.9 58.8 50.9 52.8 53.7 552 62.0 84.5 74.7 71.5 75.9 74.4 75.3 76.4 Consumer confidence, The Conference Board, 1985*100 (L,L,L) Consumer expectations, The Conference Board, 1985-100 (UL.L). 91.5 83.7 84.7 742 85.6 77.7 62.6 55.6 61.7 56.1 61.2 59.8 55.1 55.3 59.4 63.6 81.1 100.7 79.4 99.7 78,4 95.5 78.0 100.9 77.7 100.3 76.1 96.8 72.9 95.4 II 83* 104.35 92.32 420,570 -.13 -.31 49.7 1,251.12 1,106.31 416,085 -25 .76 47.9 [ MK] 1.5 Fixed Capital Investment 12 • 13* 10 20 • 27* 9* 11 97 Formation of business enterprises: Index of net business formation. 1967-100 (L.L.L) Number of new business incorporations (L L L) Business investment commitments: Contracts and orders for plant and equipment. bil.S (L!,L) Contracts and orders for plant and equipment bil. 1982$ ( U , L ) .... Mfrs.* new orders, nondefense capital goods, bil. 1982$ (L.L.L) Construction contracts awarded for commercial and industrial buildings, mil. sq. ft ( L . C U ) © 3 . Newly approved capital appropriations, mfg., bil.$ (U.Lg U) Backlog of capital appropriations, mfg., bil.$ (C,Lg,Lg)0 120.7 646,625 '119.7 52,382 118.6 52,454 1172 52,181 116.1 51.422 115.2 52,060 115.5 51,991 114.9 50,384 '1142 51,536 115.0 52235 115.7 '52,327 '116.1 '52,071 '114.7 '114.8 453.13 543.45 499.71 713.94 35.64 41.56 38.38 54.43 '38.47 '47.17 43.97 57.76 40.83 47.36 44.52 5326 35.46 42.88 3927 54.97 41.77 47.00 44.46 4625 37.72 45.91 42.94 50.14 37.30 44.32 41.54 54.86 35.03 42.99 40.56 44.82 33.44 '40.82 37.12 51.98 32.07 '4122 38.04 47.11 32.00 '41.33 39.20 36.51 '40.26 '47.61 '44.83 39.12 '34.19 '43.15 '40.65 42.85 146.45 104.96 41.89 36.72 106.34 ,„ ,„„„ NOTE.—The following current high values were reached before August 1990: May 1983—BCI-123 (124.3); November 1 9 8 J - B C I - 3 2 (67.5); March 1984—BCl-58 (101.0). BCI-83 (97.7). BCI-92 change (8.62), and BCI92 smoothed (4.61); September 1985—BCI-9 (93.19); December 1986—BCI-13 (65,691); July 1987—BC1*5 (286); November 1987—BCl-46 (162); October 1988—BCI-53 (568.0); December 1988—BCI-7 (115.44), BCI-8 (99.79), and BCI-60 (0.741); January 1989—BCMO (25,406), BCI-45 (2.0), and BCI-82 (85.1); February 19&9— BCI-21 (4.0) and B C M 2 2 (120.7); March 1989—BCM2 (126.5), BCI-37 (6,252), and B d - 4 3 (5.1); 1st Q '33.60 '41.36 '3923 34.69 '34.03 104.96 ^ 100.43 1989—BCM1 (50.01); April 1989—BCM (41.2) and BCI-124 (85.0); June 1989—BCI-91 (11.2); 2d Q 1989— BCI-97 (117.90); August 1989—BCI-59 (124,761); November 1989—BCI-90 (63.1); December 1989—BCI-10 (46.27). BCI-20 (51.59). and B d - 2 7 (46.54); March 1990—BC3-42 (115,038); May 1990—BCI-44 (1.1) and BCI-92 level (423364); June 1990—BCI-41 (110.435) and BCI-4* (204.94); and July 1990—BC1-51 (2,919.6) and BCI-52 (3.428 J ) . See page C-6 for other footnotes. SURVEY OF CURRENT BUSINESS October 1991 Series no. Year Series title and timing classification C-3 1990 1991 •• 1990 Aug. | Sept. Oct. Nov. Jan. Dec. *.. Feb. Apr. May I June July Sepf Aug. 1. CYCLICAL INDICATORS - Continued 1.5 Fixed Capital Investment—Continued 61 100 • 69 • 76* 66* 87 • 83 • 28 • 29* 89* Business investment expenditures: New plant and equipment expenditures by business, bil.S, AR New plant and equipment expenditures by business, bil.1982$,AR(C,Lg ) Lg). Mfrs.f machinery and equipment sales and business construction expenditures, bil.S, AR (CLg.Lg). Index of industrial production, business equipment, 1987=100 (CLg.U). Gross private nonresidential fixed investment, bil. 1982$, AR: Total (C Lg C) Structures (Lo Lo LQV Producers' durable equipment (C Lg.C) Residential construction and investment: New private housing units started, thous., AR (L,L,L) Index of new private housing units authorized by local building permits, 1967-100 (L.LL). Gross private residential fixed investment, bil. 1982$, AR (L,L.L) 532.61 534.11 53013 535.50 524.57 523.84 520.58 525.41 528.11 521 96 47128 476.42 47420 474.64 465.43 472.58 456.93 463.83 451.72 '459.92 '456.48 '462.64 '448.60 "452.37 123.1 125.4 126.4 125.4 122.9 121.2 121.6 120.6 120.3 121.3 121.7 '121.9 '122.6 M21.8 515.4 1209 394.6 519.3 1224 397,0 1,193 89.5 1,131 84.1 176.8 173.0 519.4 1164 403.1 1,106 7B.9 1,026 73.8 1.130 73.0 496.8 1137 3831 971 68.1 847 64.0 163.3 992 69.9 -53953 -538.31 "506.5 "101 8 "404.7 498.5 1095 389.0 907 71.1 977 72.8 983 77.0 151.8 152.4 -25.0 -38.9 -33.3 -622 "122.9 1,034 79.7 '1,049 80.1 '1,056 76.0 "1,033 78.3 "159.7 1.6 Inventories and Inventory Investment Inventory investment: Change in business inventories, bil. 1982$, AR (L,L.L) Change in mfg. and trade inventories, bil.S, AR (L,L,L) -3.6 16.7 Inventories on hand: Mfg. and trade inventories, bil. 1982$ (Lg.Lg.Lg) 0 Ratio, mfg. and trade inventories to sales in 1982$ (Lg.Lg.Lg) . 4.7 '47.9 699.18 1.43 39.2 -26.4 24.6 697.82 697.98 54.0 1.50 '1.46 695.51 1.52 -55.3 687.70 150 687.21 1.48 883.63 680.76 1.45 '-3.6 "-15.1 "-7.S "679.64 1.7 Prices, Costs, and Profits 99* 98 Sensitive commodity prices: Index of sensitive materials prices, 1982=100 .... Percent change from previous month .. Percent change from p'ev'ous ™o"t h , smoothed (L L L) t Index of producer prices for sensitive crude and intermediate 126.34 -18 -.27 140.43 128.04 .30 14159 127.79 -20 .29 142.33 126.53 -.99 .11 141.13 124.31 - 1 75 -.25 139.33 123.91 -.32 -.47 139.16 123.38 -43 -.59 138.36 122.75 -.51 -.65 137.63 121.60 -94 -.72 136.42 12123 -.30 -.71 136.32 '12123 '0 '-.61 '137.10 119.80 '-1.1B '-.62 136.54 119.43 -31 -.59 136.70 "118.13 '-1.09 -.64 134.29 116 62 -128 -.75 134.66 217.8 129.7 1042 86.9 166.0 1662 181.5 172.7 158.3 125.5 118.1 89.6 310.7 220.1 129.9 105.6 89.0 152.9 174.4 198.8 177.6 168.4 125.7 119.9 81.7 321.1 215.3 129.3 100.6 82.1 151.5 174.6 196.0 184.1 172.4 125.9 119.3 79.6 320.0 210.8 127.8 95.4 81.3 165.6 170.6 191.4 191.7 166.0 126.0 121.3 78.0 313.9 212.3 127.4 94.4 81.9 171.1 167.5 177.3 179.4 156.1 126.5 119.6 75.8 3032 205.4 128.0 105.8 81.5 189.9 1647 176.0 171.8 146.8 126.4 124.9 75.3 3012 203.5 128.6 1062 75.2 189.1 158.5 1762 168.9 146.8 127.0 1202 75.5 298.6 196.4 127.6 108.3 74.5 188.8 152.9 180.9 167.3 146.4 128.6 134.3 •66.8 293.9 185.4 127.7 115.1 75.3 184.6 150.1 175.9 160.3 146.1 128.4 1325 58.0 292.4 - 1842 128.4 115.4 76.3 179.9 150.2 173.7 152.3 1442 128.1 134.0 56.3 294.7 '173.8 '131.5 '112.8 '74.8 M762 '148.9 '172.0 '140.3 '140.5 '128.1 136.3 65.7 290.2 170.9 135.8 105.7 57.3 158.5 137.6 168.1 130.0 132.4 128.1 123.8 752 285.4 162.0 135.9 95.4 57.5 144.5 141.3 169.3 138.1 133.7 128.6 1152 78.5 279.8 162.3 132.8 95.8 57.1 138.5 1412 169.7 140.4 132.8 128.9 102.0 72.0 276.9 154.8 133.0 91.8 52.6 140.9 146.4 162.9 137.4 1302 129.1 105.7 73.7 271.9 .904 .234 107.646 3.462 .777 .287 .712 .741 4.893 1.021 63.121 .464 .133 1.084 .263 111.765 3.495 .831 288 .756 .740 5.000 1.011 64.483 .460 .128 .990 256 111.881 3.390 .810 .735 .778 5250 .975 64.090 .482 .129 .890 236 106.195 3.608 .728 .288 .739 .790 5240 .947 61.934 .475 .136 .851 .193 105.316 3.548 .700 288 .727 .790 4.712 .930 59.901 .483 .138 .823 .184 106.339 3.328 .700 .288 .723 .801 4.600 .942 59.140 .490 .139 .859 .179 100.873 3292 .700 288 .736 .798 4.600 .915 59.062 .483 .133 .916 .181 99.902 3.252 .652 288 .822 .782 4.600 .858 58.766 .484 .124 .889 .193 100.200 3202 .620 288 .795 .810 4.312 .868 58.997 .492 .132 .886 .192 99.001 3.224 .620 288 .795 .810 4260 .958 61.538 .453 .135 .826 .180 95.286 3282 .620 288 .809 .820 4.300 .992 59.701 .449 .121 346 .148 90.292 3.285 .620 288 .736 .832 4.525 .965 60.362 .446 .117 .865 .129 89749 3.506 .620 .288 .678 .850 4.270 .880 61.350 .427 .124 .863 .126 91.707 3.645 .598 284 .642 .855 3.962 .772 61.856 .431 .144 .811 .123 95.755 3.628 .518 .272 .639 .880 3.852 .742 61287 .437 .137 1392 5.8 5.9 140.4 7.1 6.3 141.1 6.1 6.4 141.6 4.3 62 142.1 4.3 5.9 142.7 52 143.9 10.6 6.0 144.6 6.0 6.3 144.9 Z5 6.0 145.1 1.7 5.2 145.5 3.4 4.5 145.8 2.5 3.8 146.4 5.1 3.6 146.8 3.3 3.4 147.6 6.7 5.5 334.59 330.75 315.41 307.12 31529 328.75 325.49 36226 37228 379.68 377.99 378.29 38023 389.40 38720 172.5 136 3 A.S 179.4 141.8 4.8 M042 '0 '2.9 '103.7 "-5.6 M.O "104.4 8.4 "103.9 "-5.6 "-.1 .36 materials 1QA9 1(Yl (I I \\ 23* 120 • 19 • 16* 18* 22* 81 • 26 • 35 63 62 • maienais, iyoc=iuu (L,L,LJ Cattle hides Lumber and wood products Wastepaper, news Wastepaper, mixed, NSA Wastepaper, corrugated Iron and steel scrap Copper base scrap Aluminum base scrap Other nonferrous scrap n e e , NSA Sand, gravel, and crushed stone Raw cotton Domestic apparel wool Index of spot market prices, raw industrial materials, 1967-100 NSA fu L U © ' Copper scrap, $ per Ib © Lead scrap, $ per ib © Steel scrap, $ per ton© Ttn, $ p e r l b . . N S A © Zinc, $ per Ib., NSA© Burlap, $ per yd., NSA© Cotton, $ per b . © Print cloth, $ per y d , NSA© Wool tops. $ per Ib, NSA© Hides. $ per to., NSA© Rosin, $ per 100 !b © Rubber, $ per Ib. © Tallow, $ per Ib.© Consumer Price Index for services, 1982-84=100 Percent change from previous month. AR Percent change from previous month, AR, smoothed (Lg.Lg.Lg) t index of stock prices, 500 common stocks, 1941-43=10, NSA (L,L,L). Profits and profit margins: Corporate profits after tax, bil.$, AR (L.L.L) Corporate profits after tax, bil. 1982$, AR [IXX) Ratio, corporate domestic profits after tax to corporate domestic income, percent (L,L,L). Ratio coroorate domestic orofits after tax with IVA and CCAdi to corporate domestic income, percent (U.L.L). Ratio, implicit price deflator to unit labor cost, all persons, nonfarm business sector. 1982-100 ( U , L ) . Coroorate net cash flow bil. 1982$ AR {L L U Unit labor costs: Index of unit labor cost all persons, business sector, 1982=100 (\ n 1 n I ri\ lL.g,Lg,i_gj. Index of labor cost per unit of output, mfg., 1987=100 Percent change from previous month, AR „ Percent change from previous month, AR, smoothed (Lg,Lg,Lg)t. 288 4.3 4.1 37 41 42 103.5 103.5 103.0 1032 103.1 391.1 395.9 393.6 3843 3874 123.1 123.7 1252 126.4 101.8 2.9 .3 101.4 -1.2 -.2 101.4 0 -.4 101.5 12 —.; Nan.—The following current high values were reached before August 1990: November 1983—BCI-99 smoothed (2.09); February 1984—BCI-28 (2,260) and BCI-29 (158.5); 1st Q 1984—BCI-22 (6.9) and BCI-30 (83.4); 2d Q 1985—BCI-87 (151.4); 3d Q 1985—BCI-81 (8.6); March 1986-BCI-77 (1.58); October 1986— BCI-99 change (3.37); 4th Q 1986—BCI-89 (200.3); 3d Q 1988—BCI-35 (433.1); December 1988—BC1-31 160.6 120 6 A.Q 1664 126.5 3.9 177.6 1385 4.3 101.8 1042 32.3 5.0 103.5 -7.8 6.0 103.7 2.3 6.1 3.8 127.7 104.3 72 6.3 104.2 -1.1 5.4 1042 0 42 r ( (98.6); 4th Q 1988—BCI-16 (189.1), BCI-18 (163.8), and BCI-26 (104.6); March 1989—BCI-99 index (135.82); April 1989—BCI-23 (335.0); November 1989—BCI-70 (705.14); and February 1990—BCl-69 (484.43). See page C-6 for other footnotes. SURVEY OF CURRENT BUSINESS C-4 Year Series no. October 1991 1990 1991 Series title and timing classification 1990 Aug. Sept Oct. Nov. Jan. Dec. Feb. Mar. Apr. May June 1.17 .70 597.4 2,396.6 .79 .62 602.6 2,413.1 -.11 .25 600.6 2,413.9 1.13 .38 605,7 2,416.2 .14 609.2 2,414.5 1.405 6.597 1.409 -110.18 14.15 -4.1 -65.81 -15.97 -6.3 July Aug. Sept.* 1. CYCLICAL INDICATORS- Continued 1.8 Money and Credit Money: Percent change in money supply M1 (L.L.L) Percent change in money supply M2 (L,C,U) Money supply M l , bil. 1982$ (L.U) Money supply M2, bil. 1982$ (L.L.L) Velocity of money: Ratio, gross national product to money suppy Ml (C,C,C} Ratio, personal income to money supply M2 (C,Lg,C) Credit flows: Net change in business loans. bil.S. AR (L,L,L) Net change in consumer installment credit, bil.S. AR (L.L.L) Percent change in business and consumer credit outstanding, AR (UL.L). Funds raised by private nonfinancial borrowers in credit markets, mil.$, AR (L,L,L). Credit difficulties: Current liabilities of business failures, mil.$, NSA (L.L.L) $ Percent of consumer installment loans delinquent 30 days and over(LL,L)0t ,33 .27 599.6 2,431.0 .72 .43 598.6 2,426.5 6.729 1.411 6.756 1.413 16.46 1624 -1.0 4255 13.13 -.9 390,311 401,204 59,836.4 2.57 Bank reserves: Free reserves, mit.$, NSA (L,U.U) * Member bank borrowings from the Federal Reserve, mil.$. NSA .65 .37 598.1 2,417.6 55.44 20.44 -4.4 -.07 .09 594.2 2,405.7 -23.58 -1.37 -1.1 .26 -.02 593.6 2,396.5 26 .13 593.4 2,392.7 6.714 1.419 1.425 -41.34 11.75 -5.5 -54.52 -15.72 -10.6 .16 .11 591.8 2,385.0 6.653 1.411 21.22 -25.67 -3.8 257,376 192,024 '5,973.9 '4,017.2 2.56 2.43 927 49.18 -3.84 -2.2 -43.46 -2.41 '-1.5 '4.473.0 ' 3,591.9 "4,676.5 "10,242.8 2.47 2.53 257 2.47 741 230 1,361 326 1,662 534 1,590 252 '.78 '.02 611.8 '2,395.8 ".46 '-,01 '612.5 '2,387.3 "6.553 '-56.14 -20.38 '-8.5 '5.99 '-127.18 '-7.55 '-15.49 '-13.5 -9.0 "167,900 11,997.2 ' 7,317.7 '5,069.1 2.65 2.67 2.53 455 410 M4 '-.30 '608.8 '2,402.1 1 12248.0 '4,930.5 2.65 2.73 231 815 303 676 340 345 607 5.78 5.51 '9.13 8.33 6.95 9.62 8.50 5.90 5.60 9.37 8.54 7.13 9.71 8.50 5.82 5.58 9.38 8.50 7.05 9.59 8.50 "586 '645 (Ug,U). Interest rates (percent, NSA): Federal funds rate (L.Lg.Lg) Discount rate en new issues of 9Hiay Treasury bills {C.Lg.Lg) . Yield on new issues of high-grade corporate bonds (Lg.Lg.Lg) ... Yield on long-term Treasury bonds (C.Lg.Lg) Yield on municipal bonds, 20-bond average (U.Lg.Lg) Secondary market yields on FHA mortgages (Lg.Lg.Lg) Average prime rate charged by banks (Lg.Lg.Lg) Outstanding debt: Consumer installment credit outstanding, mil.S (Lg.Lg.Lg)0 Commercial and industrial loans outstanding, mil.$, (LgXgXg) ... Commercial and industrial loans outstanding, mil. 1982$ (Lg.Lg.Lg). Ratio, consumer installment credit outstanding to personal income, percent (Lg.Lg.Lg). 8.10 7.51 9.84 8.73 7.27 10.17 10.01 8.13 7.44 10.05 8.97 7.32 1028 10.00 8.20 7.38 10.17 9.11 7.43 10.24 10.00 8.11 7.19 10.09 8.93 7.49 10.23 10.00 7.81 7.07 9.79 8.60 7.18 9.81 10.00 7.31 6.81 9.55 8.31 7.09 9.66 10.00 6.91 6.30 9.60 8.33 7.08 9.58 9.52 6.25 5.95 9.14 8.12 6.91 9.57 9.05 6.12 5.91 ••9.14 8.38 7.10 9.61 9.00 5.91 5.67 9.07 829 7.02 9.61 9.00 735,102 467,049 401,717 733,844 472,282 405,392 735.547 476,902 402,789 735,433 474,937 393,160 736,411 471,492 392,583 735,102 466,949 393,386 732,962 468,717 732,762 465,095 396,839 732,442 469,193 403,781 733.621 460,011 396.561 15.74 15.70 15.52 15.48 15.42 15.43 237.9 202.9 238.0 '204.9 233.2 199.1 2352 197.5 2352 199.0 238.4 200.4 15.66 732,289 730,591 454,527 '449,849 390,152 '386,801 5.66 5.39 8.88 8.17 6.90 9.14 8.50 5.45 5.25 8.79 7.96 6.80 9.06 8.20 ' 729,962 "728,671 r 450,348 '439,750 "438,138 r 388,231 '378,442 '377,705 1.9 Alternative Composite Indexes CIBCR long-leading composite index, 1967=100' § CIBCR short-leading composite index, 1967=100' § 203.9 2022 199.7 234.7 199.8 240.1 202.8 '241.8 '204.8 '242.8 '208.4 '241.5 208.1 '242.9 "210.5 2. OTHER IMPORTANT ECONOMIC MEASURES 2.1 Savings 290 295 292 298 • 293* Gross saving, bil.S, AR Business saving, bi! $, AR Personal saving bil $ AR . Government surplus or deficit bil.$, AR Personal saving rate, percent 657.3 665.9 605 8 607.8 166 5 1801 -130 6 • -106.4 42 4.6 6192 610 3 1675 -158 6 4.2 6971 6251 1687 " " 968 42 " 649.1 624 9 1702 -146 0 42 '1577 136 3 '136.9 '3.8 2.2 Prices, Wag es, and Productivity Price Movements 310 311 • 320 323 * 336 337 • 334 333 332 331 Implicit price deflator for gross national product, 1982=100 Percent change from previous quarter, AR Fixed-weighted price index, gross domestic business product, 1982=100. Percent change from previous quarter, AR Consumer Price Indexes for all urban consumers All items, 1982-84=100, NSA ... Percent change over 1-month span Percent change over 6-month span AR All items less food and energy, 1982 84=100 Percent change over 1-month span Percent change over 6-month span, AR Producer Price Indexes: Finished goods, 1982=100 Percent change over 1-month span Percent change over 6-month span, AR Finished goods less foods and energy 1982*100 Percent change over 1-month span Percent change over 6-month span, AR . Finished consumer goods, 1982«1OO Percent change over 1-month span Percent change over 6-month span, AR Capital equipment 1982*100.... Percent cringe over 1-month span Percent change over 6-month span AR Intermediate materials, supplies, and components, 1982=100 Percent change over 1-month span Percent change over 6-month span, AR Crude materials for further processing, 1982=100 . Percent change over 1-month span Percent change over 6-month span, AR 131.5 4.1 133.3 . 1322 37 133.9 45 4.1 130.7 .5 5.8 135.5 .4 5.4 131.6 .8 136.7 ,5 5.3 1192 .5 5.1 126.6 119.3 1.1 9.0 127.1 3.8 118.2 .5 5.7 122.9 .3 3.5 114.5 .4 3.7 108.9 .6 6.4 3.5 118.3 1.5 10.9 123.4 .3 3.6 114.3 1.3 9.4 1102 9.1 30.1 72 133.1 2.8 135.4 47 132.7 .8 6.6 137.3 .4 4.9 133.5 .6 6.7 137.7 .3 5.5 133.8 .3 5.4 138.1 120.8 1.3 82 127.5 .3 3.5 1202 1.6 9.5 123.8 .3 3.5 116.1 1.6 8.0 115.6 4.9 22.2 122.3 12 7.6 127.8 122.8 .4 3.7 128.4 .5 4.5 122.6 .4 3.8 124.4 2 4.1 118.1 4.5 122.1 1.6 8.8 124.1 2 4.4 117.9 1.6 6.9 125.4 8.5 25.6 NOTE.—The following current high values were reached before August 1990: January 1983—BCM02 (2.79); July 1983—BCM4 (829.2); February 1984-BCI-39 (1.78); May 1984—BCI-93 ( - 2 , 3 8 0 ) and BCM18 (15.01); June 19S4—BCI-lll (23.2), B C M 1 5 (13.OO), BC1-116 (14.49), and BCM17 (10.67); August 1984—BCt-94 (8.017), B C M 0 9 (13.00), BCI-1I4 (10.49), and BCI-119 (11.64); 4th Q 1984—BCI-107 (7.029); September 1348 b.9 25 117.6 -6.2 -10.1 52 45 '18 136.9 137.9 '1385 135.6 .3 22 141.5 .2 3.3 136.0 2 31 142.0 .4 3.9 136.2 .2 136.6 .2 137.2 .4 142.5 .4 143.0 .4 143.6 .4 '121.9 121.4 '-.4 5 130.7 '-2 1 5 120.0 '-.6 3 126.6 M 1 3 114.0 .1 -5 99.0 '-1.7 -5.3 121.1 -2 121.4 2 121.5 .1 131.0 .2 131.3 2 131.3 0 119.6 -.3 120.1 .4 120.1 0 126.7 .1 126.8 .1 127.0 113.7 -.3 114.1 .4 1142 .1 99.2 2 992 0 98.3 -.9 134.6 .4 29 139.7 .8 5.1 134.8 2 29 140.7 .7 5.0 135.0 -.1 27 140.9 .1 5.0 135.2 122.3 -.4 7 12S.6 .2 4.4 121.7 -.7 -.5 124.8 .3 39 1172 -.8 -2.7 111.2 -5.4 -23.7 122.4 .1 -16 129.6 .8 4.1 121.6 -.1 -3.1 * 125.7 121.5 -.7 '-1 5 129.9 2 '3.9 120.5 -.9 '-3.1 125.9 .2 '34 115.7 -.8 -70 104.5 -7.7 '-26.7 121.2 -2 -1 5 130.3 .3 33 119.9 -.5 -28 1262 121.3 .1 -21 130.4 .1 -2 '130.9 '.4 22 22 120.2 M20.7 '.4 _7 ' 126.5 32 116.6 -65 113.2 1.8 -35.6 '1.6 29 46 133.8 .3 3.7 138.6 .4 5.3 29 114.5 -1.0 -54 101.0 -3.3 -20.7 22 1412 2 4.0 -33 12S.1 -.1 1 6 114.0 -.4 -49 100.6 -.4 -23.2 1 4 1135 -.1 -27 '100.7 '.1 -9.9 1985—BCM13 (132.08); 4th Q 1985—BCI-110 (869,764); December 1986—BCI-85 (2.49); May 1987- BCM05 (637.9); May 1988—BCM06 (2,472.3); October 1989—BCI-95 (16.06); and March 1990—BCI-101 (409,697) and BCI-112 (131.06). Sec page C-6 for other footnotes. SURVEY OF CURRENT BUSINESS October 1991 Series no. Year 0-5 1990 1991 Series title and timing classification 1990 Aug. | Sept. | Oct. Nov. | Dec. Jan. Feb. I Mar. I Apr. May Aug. July Oun. Sept* 2. OTHER IMPORTANT ECONOMIC MEASURES - Continued 2.2 Prices, Wages, and Productivity — Continued Wages and Productivity 346 370 4 • 358 index of average hourly compensation, all employees, nonfarm business sector, 1982=100. Percent change from previous quarter, AR Index of real average hourly compensation, all employees, nonfarm business sector, 1982=100. Percent change from previous quarter, AR Index of output per hour, all persons, business sector, 1982=100 ... Percent change over 1-quarter span, AR Percent change over 4-quarter span, AR Index of output per hour, all persons, nonfarm business sector, 1982-100. 135.8 137.8 139.1 3.8 101.0 5.0 101.1 3.8 100.3 -1.5 112.4 -.4 .1 111.2 -1.8 112.7 .9 2 111.5 -3.0 112.3 -1.2 0 1115 124,787 117.914 124,705 117,690 124,970 117,883 124,875 117,733 124,723 117,386 125,174 117,574 124,638 116.922 125,076 116,918 125.326 116,754 125,672 117,398 125.232 116,591 125,629 116,884 125.214 116,712 124,904 116,416 125,607 117,165 778 57.9 53.7 77.7 58.1 51.3 77.9 57.9 53.1 778 57.7 53.0 77.8 57.5 52.4 779 57.8 52.8 773 57.6 53.0 77.4 57.8 53.3 776 57.8 53.6 77.7 58.1 52.6 774 57.8 52.2 775 582 512 774 57.9 50.0 772 57.8 48.5 775 57.8 51.5 MM! i S 1 345 140.5 142.1 42 1005 45 1011 6 1123 0 24 1124 3 iTu 1114 • " ::::::::: " 2.3 Labor Force and Employment 441 442 451 452 453 Civilian labor force thous Civifian employment thous Civilian labor force participation rates (percent): Males 20 years and over .... Females 20 years and over ...,«, Both sexes 16-19 years of age ........ ., 2.4 Government Activities 517 525 543 548 557 570 564* Defense indicators: Defense Department gross obligations incurred. mi!.$ Defense Department prime contract awards, mil.S Defense Department gross unpaid obligations outstanding, mil.$ C\ Manufacturers' new orders, defense products, mil.S Index of industrial production, defense and space equipment, 1987*100. Employment, defense products industries, thous Federal Government purchases of goods and services, national defense, bil.S, AR. 131,796 14,077 32,664 13,458 212,396 93.458 97.3 8,499 97.7 7,745 97.3 1,230 313.6 1223 312.6 1,216 393,576 38,753 83,098 495,310 60,884 70,527 389,550 497 665 108,115 32,514 3.223 6.767 41.868 4,365 6,179 96638 125398 -28,760 26,637 "29.150 4,262 8,117 204.677 "196282 8,202 19,434 13,411 11,480 6,041 14,379 10,276 9.355 "10201 7,515 97.3 5.044 96.2 6,844 95.8 7,683 94.4 7,922 94.5 6,692 93.9 7,790 92.5 9,531 91.5 8231 91.0 '9.385 '902 '10.807 '89.9 1,207 1,196 325,0 1,192 1,187 1,173 3312 1,167 1,157 1,148 325.7 1.137 1,128 "1,127 "3187 34.144 2,906 7,069 41,520 5.385 5,904 33,599 3,300 6,977 39,103 3,846 5.311 100,900 119294 -18,394 34,030 3,081 6,947 38,100 3,872 5,544 35,632 3,045 7,732 40,139 4.054 5,445 35,270 3,070 7,440 40.062 4.100 5,037 "104,108 "119732 "-15*24 34,974 2,929 7,439 38,764 4,160 5,426 '35,225 3,333 7,555 '41.176 3.786 5,787 34,164 3,140 7,258 40,923 4,385 6,567 105.5 M10 123.3 '118 110 99 104.2 '96.5 106.4 M10 126.0 117 109 98 105.5 '972 107.3 "112 122.8 121 108.0 '108.0 '126.6 119 "123.3 "118 "5,527 "89.2 2.5 U.S. International Transactions Exports, excluding military aid shipments, mil.S Exports of domestic agricultural products, mil.$ ... Exports of nonelectrical machinery, mil.S General imports, mll.$ ..-. Imports of petroleum and petroleum products, mil.S Imports of automobiles and parts, mil.S Merchandise exports, adjusted, excluding military, mil.S 1 Merchandise imports, adjusted, excluding military, mil.S 1 Balance on merchandise trade, mil.$ J 32 229 3,021 6,912 41,315 6,502 5,999 34,630 3,047 7,254 44.527 6,927 6,567 33.586 3,158 6,774 43,123 6,332 5,993 100,580 128 308 -21728 33,570 2,858 6,927 39,894 5,353 5,475 I"".!"!". 2.6 International Comparisons Industrial Production Indexes (1987=100) United States OECD, European countries 2 japan Federal Republic of Germany France United Kingdom Italy Canada . . . 109.9 111 125.6 117 110 102 108.4 109.2 111 121.3 114 109 103 110.2 100.7 110.5 111 122.9 116 112 102 110.7 1012 110.6 111 122.4 117 110 102 111.7 130.7 5.8 111.4 4.0 112.1 2.9 133.1 3.5 1482 9.4 159.5 . 6.5 135.4 5.7 131.6 72 111.4 4.4 1122 4.0 133.7 44 150.5 6.6 160,3 7.5 135.8 5.9 132.7 6.6 112.4 4.9 112.6 4.1 151.9 6.3 161.2 7.1 136.3 5.3 6.7 113.9 6.8 113.4 3.8 135.2 4.3 153.1 6.1 162.6 7.1 137.4 10.3 364.0 1,974.9 835.0 1.043.0 409.1 386.6 359.8 1,833.0 348.9 796.5 1,030.1 387.9 378.1 343.1 1,644.4 308.8 714.6 971.1 354.4 357.0 334.1 1,592.1 297.8 726.8 974.1 338.4 348.2 86.55 86.10 144.82 1.6159 5.4449 .5630 1,198.05 1.1670 147.46 1.5702 5.2680 .5260 1,157.07 1.1448 138.44 1.5701 52575 .5321 1,172,87 1.1583 99.3 108.3 110 124.3 116 108 100 107.7 97.3 107.2 110 123.8 • 116 106 100 110.5 96.4 106.6 111 125.8 119 110 99 109.6 96.4 105.7 111 125.7 118 109 101 109.3 95.3 105.0 '109 133.8 5.4 113.5 5T4 1132 32 135.0 133.8 3.7 1132 5.1 113.3 2.1 134.9 2.2 152.6 3.8 1642 6.8 138.1 134.6 2.9 114.1 2.0 114.0 12 135.5 1.6 153.0 2.9 165.4 6.6 141.7 7.7 134.8 135.0 2.7 114.3 2.1 1142 3.4 135.8 2.4 154.4 5.0 167.4 6.8 142.3 72 135.2 22 114.8 .3 114.7 135.6 22 115.4 1.0 1152 5.0 135.3 '25 156.4 5.1 136.6 354.1 1,542.4 280.5 694.7 969.3 289.1 369.8 394.1 1.696.8 300.8 740.0 1,047.6 318.0 3912 405.0 1,785.2 314.8 822.6 1,137.9 336.5 395.0 413.0 1,8032 324.2 820. 1.168.0 342.0 392.0 91.41 92.29 95.18 95.19 93.41 91.18 137.39 1.6122 5.4862 .5490 1201.96 1.1572 137.11 1.7027 5.7540 .5715 1261.5: 1.1535 138.22 1.7199 5.8282 .5601 1,275.67 1.1499 139.75 1.7828 6.0483 .6062 1,325.09 1.1439 137.83 1.7852 6.0596 .6056 1,329.55 1.1493 136.82 1.7435 5.9244 .5938 1,303.3' 1.1452 134.30 1.6933 5.7621 .5792 126625 1.1370 123.0 118 106 101 109.1 95.0 "108.1 "109 '102 '97.5 "106.7 "98.0 136.0 1362 '111.4 Consumer Price Indexes (1982-84=100) United States, NSA Percent change over 6-month span, AR Japan, NSA Percent change over 6-month span, AR . Federal Republic of Germany. NSA Percent change over 6-month span. AR France, NSA Percent change over 6-month span, AR United Kingdom, NSA ... Percent change over 6-month span, AR Italy, NSA Percent change over 6-month span, AR Canada, NSA Percent change over 6-month span, AR . „ 3.6 134.4 133.5 3.6 152.7 4.8 163.6 7.1 13S.2 9.5 2.9 113.8 2.3 114.3 2.1 135.7 2.1 153.8 4.8 167.0 6.5 141.7 6.6 4.9 1682 6.1 142.3 1.6 2.4 156.9 4.6 168.8 5.6 143.0 2.6 3.1 136.6 "115.0 137.2 114.9 115.8 116.8 "*13S.9 137.7 157.6 157.6 4.3 169.7 5.5 143. 2.1 "169.9 170.4 . . _ 143.9 158.1 143.7 Stock Price Indexes (1967=100, NSA) United States '........ japan , „ federal Republic of Germany France •.... United Kingdom | t a ty Canada ....! Z .... „ 355.6 343.0 1,5722 292.4 713.9 969.3 3022 356.0 357.6 1,579.4 299.9 719.4 993.4 312.9 363.0 83.43 82.12 83.35 83.51 82.12 129.59 1.5238 5.1032 .5140 1,141.62 1.1600 12922 1.4857 5.0020 .5091 1.117.04 1.1635 1.4982 5.0895 .5203 1,12926 1.1603 133.70 1.5091 5.1253 .5169 1,134.38 1.1560 130.54 1.4805 5.0398 .5091 1,111.19 1.1549 411 1,7762 327.9 1,155.9 331.6 400.7 411.5 1,712.1 339.3 810.1 1,155.9 "343.0 391.6 4136 4212 423.6 1,639.9 1,612.8 1,593.0 329.1 326.3 "327.8 871.7 810.1 832.6 1,168.0 "1212.1 " 1 , 2 2 6 8 "323/ "318.9 325.8 400.0 397.5 382.8 Exchange Rates Exchange value of U.S. dollar, index: March 1973=100, NSA 3 Foreign currency per U.S. dollar (NSA): Japan (yen) Federal Republic of Germany (d. mark) France (franc) United Kingdom (pound) ••••« * Italy (lira) Canada (dollar) ."" See footnotes on page C-6. C-6 SURVEY OF CURRENT BUSINESS October 1991 FOOTNOTES FOR PAGES C-l THROUGH C-5 a AR c © e • Anticipated. Annual rate. Corrected. Copyrighted. Estimated. Available data for later period(s) listed in notes. NSA P r • § o Not seasonally adjusted. Preliminary. Revised. Graph included for this series. Major revision-see notes. End of period. L,C,Lg,U Cyclical indicator series are classified as L (leading), C (coincident), Lg (lagging), or U (unclassified) at reference cycle peaks, troughs, and overall. Series classifications are shown in parentheses following the series titles. ± Cyclical indicator series denoted by $ are inverted (i.e., the sign is reversed) for cyclical analysis calculations, including classifications, contributions to composite indexes, and current high values, f Cyclical indicator series denoted by f are smoothed by an autoregressive-moving-average filter developed by Statistics Canada. For information on composite indexes and other concepts used in this section, see "Composite Indexes of Leading, Coincident, and Lagging Indicators" in the November 1987 SURVEY OF CURRENT BUSINESS and "Business Cycle Indicators: Revised Composite Indexes" in the January 1989 SURVEY. References to series in this section use the prefix "BCI-" followed by the series number. Unless otherwise noted, series are seasonally adjusted. Percent change data are centered within the spans: 1-month changes are placed in the ending month, 3-month changes are placed in the 3d month, 6-month changes are placed in the 4th month, 1-quarter changes are placed in the ending quarter, and 4-quarter changes are placed in the 3d quarter. Diffusion indexes are defined as the percent of components rising plus one-half of the percent of components unchanged. Diffusion index data are centered within the spans: 1-month indexes are placed in the ending month and 6-month indexes are placed in the 4th month. High values reached by cyclical indicators since the last reference cycle trough (November 1982) are shown in boldface type; high values reached prior to the period shown in the table are listed at the bottom of each page. For inverted series, low values are indicated as highs. Sources for series in this section are shown on pages C-47 and C-48. Page C-l Page C-3 NOTE.—Major data revisions: The composite indexes (BCI-910, -920, -930, and -940), their percent changes, and the contributions of their components have been revised from 1986 forward to incorporate revised data for component series. These revisions do not involve changes in the components of the indexes or changes in the standardization or trend factors. In addition, the diffusion indexes based on the composite index components (BCI-950, -951, and -952) have been recomputed from 1986 forward. Historical data for these composite and diffusion indexes and their components are shown on pages C-25 through C-44. For further information, contact the U.S. Department of Commerce, Bureau of Economic Analysis, Business Outlook Division, Washington, DC 20230. 1. A component's contribution measures its impact, in percentage points, on the percent change in the index. Each month, the sum of the contributions plus the trend adjustment factor equals (except for rounding differences) the index's percent change from the previous month. The trend adjustment factors are 0.142 for the leading index, —0.186 for the coincident index, and 0.030 for the lagging index. 2. Excludes BCI-57, for which data are not available. 3. Excludes BCI-77 and BCL95, for which data are not available. * Preliminary October values; BCI-23 = 271.9, BCI-19 *= 386.33; anticipated 4th quarter values: BCI-61 = 540.91 and BCM00 « 541.15. 1. Copyrighted. This series may not be reproduced without written permission from Commodity Research Bureau, Inc., 75 Wall Street, 22d Floor, New York, NY 10005. Page C-4 NOTE.—Major data revision: CIBCR long-leading and short-leading composite indexes (BCI990 and BCI-991) have been revised by the source agency from 1986 forward to incorporate revised data for component series. For further information, contact the source. (See footnote 1 for address.) * Preliminary October values: BCI-85 ^= 0.87, BCI-119 = 5.26, BCI-114 = 5.04, BCI-116 = 8.83, BCI-115 - 7.88, BCM17 = 6.68, and BCI-109 = 8.00. 1. This index is compiled by the Center for International Business Cycle Research (CIBCR), Graduate School of Business, Columbia University, New York, NY 10027. ^ Page C-2 NOTE.—Major data revision: Series on average weekly initial claims for unemployment insurance (BC1-5) and average weekly insured unemployment rate (BCI-45) have been revised by the source agency from 1986 forward to reflect updating of the basic data. For further information, contact the U.S. Department of Labor, Employment and Training Administration, Office of Administration Management, Washington, DC 20210. * Preliminary October values: B C M 2 2 = 60.4 and BCI-123 ~ 79.6. 1. Data exclude Puerto Rico, which is included in figures published by the source agency. 2. Copyrighted. This series may not be reproduced without written permission from the University of Michigan, Survey Research Center, P.O. Box 1248, Arm Arbor, MI 48106-1248. 3. Copyrighted. This series may not be reproduced without written permission from McGrawHill Information Systems Company, F.W. Dodge Division, 1221 Avenue of the Americas, New York, NY 10020. Page C-5 * Preliminary October values: BCI-19 = 420.2, BCI-748 = 1,721.0, BCI-745 » 317.9, BCI746 = 862.1, BCI-742 = 1,182.6, BCI-747 = 310.5, BCI-743 = 380.9, BCI-750 = 90.72, BCI-758 = 130.68, BCI-755 = 1.6902, BCI-756 = 5.7594, BCI-752 *= 0.5807, BCI-757 = 1,263.78, and BCI-753 = 1.1290. 1. Balance of payments basis: Excludes transfers under military grants and Department of Defense sales contracts (exports) and Department of Defense purchases (imports). 2. Organisation for Economic Co-operation and Development. 3. This index is the weighted-average exchange value of the U.S. dollar against the currencies of the other G-10 countries plus Switzerland. Each country is weighted by its 1972-76 global trade. For a description of this index, see the August 1978 Federal Reserve Bulletin (p. 700). October 1991 SURVEY OF CURRENT BUSINESS CYCLICAL INDICATORS Composite Indexes Aug. Apr. Apr P T P Jan. July July Nov. P T P T 1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 NOTE.—The numbers and arrows indteate length of leads ( - ) and lags (+) in months from business cycle turning dates. Current data for these series are shown on page C-1. C-7 C-8 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Composite Indexes: Rates of Change Aug. Apr. P T Dec. Nov. Apr. Feb. P P T T Nov. Mar. P T Jan. July July P T P Nov. T Ptrcent change at annual rate 910c. Composite index of 11 leading indicators 1-month span 3-month span — 920c. Composite index of 4 coincident indicators 930c. Composite index of 7 tagging indicators Composite Indexes: Diffusion Percent of components rising 950. Diffusion index of 11 hiding indicator components 1-month sptti—— 6-month span 100-j 50- 0- 951. Diffusion Index of 4 coincident indicator components I13B 100- VRl ii slliiSI 1 50- I» 952. Diffusion index of 7 lagging indicator components 100- 50- 1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 NOTE—Current data for these series are shown on page C-1. C-9 SURVEY OF CURRENT BUSINESS October 1991 CYCUCAklNDICATORS Composite Indexes: Leading Index Components Aug. Apr. P T Apr. Feb. P Dec. Nov. PT T Nov. Mar. PT Jan. July July P T P Nov. T 1. >Wrage weektyjpurs of production or nonsupervisory workers, itial claims for ummptoyment insurance, State 8. MdnufscturGrs' now ordors In 1JB82 dollars, olwsuniBr Qoods and materials Industries (Ml. d o L ) < | p J | 4 deilvertes diffusion Index (percent) [ u j ] 20. Contracts aflj orders for r i p ! and equipment irt 1982 defers 1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 NoTE.-Current data for these series are shown on page C-2. C-10 SURVEY OF CURRENT BUSINESS October 1991 Composite Indexes: Leading Index Components-Continued Aug. Apr. P T Apr. Feb. P T Nov. Mar. P T Dec. Nov. P T Jan. July July Nov. P T P T 29. New private housing units authorized by local building permits (index: 1967=100 200 -j 180-j 160140 - 100 -I c 92. Change in manufacturers' unfilled orders in 1982 dollars, duraNi goods Indus***, smoothed1 _ (bil. dol.) 99. Change in sensitive materials prices, smoothed1 (percent) 19. Stock prices, 500 common slocks (index: 1941-43*10) 106. Money supply M2 in 1982 dollars (bil. dol.) n —— 83. Consumer expeditions, U. of Michigan ( i n t o ; 1966:1=100) —. , i ^ , ta. ^ 4 ^ 1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada. 2. This is a copyrighted series used by permission; it may not be reproduced without written permission from the University of Michigan, Survey Research Center. NOTE-Current data for these series are shown on pages C-2, C-3, and C-4. C-ll SURVEY OF CURRENT BUSINESS October 1991 Composite Indexes: Coincident Index Components Aug. Apr. P T Apr. Feb. P T Nov. Mar. P T Jan July July P4gt«ll3 (millions) Nov P T P T X '} \ Industrial Brtductlon (index: 1987=109? •- - -• v v "—* satesin1982dolarsfc|.dol.) 19SS56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 Nom—Current data tor these series are shown on page C-2. C-12 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Composite Indexes: Lagging Index Components Aug. Apr. P T Apr. Feb. P T Dec. Nov. P T Nov. P War. T Jan. July July Nov. P T P T 91. Average duration of unemployment (weeks—inverted scale) 77. Ratio, manufacturing l i d trade inventories to sales In 1982 dollars (ratio) 62. Change in index of labor 1cost per unit of output, manufacturing, smoothed (ann. rat* percent) 109. Average prime rate charged by banks (percent) 101. Commercial and Industrial loans outstanding in 1982 doters (Ml. dol.) 95. Rtfo, consumer Installment credit outstanding to personal income (percent) |Lg,Lg,Lg| ZZL 120. Change in Consumer Price tedex for services, smoothed1 (ann. rate, percent) [ u j 1955 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 911992 1. This series is smoothed by an autoregressive-moving-average filter developed by Statistics Canada. NOTE—Current data for these series are shown on pages C-2, C-3, and C-4. C-13 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Employment and Unemployment Dec. Nov. Nov. Mar. Jan. July July P T P T P T P Nov T i Average weekly overtime hours of production or norteupervisory workers, manufacturing (hours) f^cXl 2 J 46. Help-wanted advertising in newspapers (Index: 1067*100) 40. Employees on industries ( Ratio, civilian employment to population of wortdng age (percent) 43. Civilian unemployment We (ptt«Mnverted scale) 1964 65 66 67 68 69 70 71 NOTE.—Current data for these series are shown on page C-2. 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-14 SURVEY OF CURRENT BUSINESS October 1991 CUCAL INDICATORS Production and Income Dec. P Nov. T Nov. P Mar. T Jan. July P T July P Nov T ct in 1982 dollars, Q (ann. T*B,W. dol.) 2800- 53. Ww« and salaries In 1982 doffs, mWnfl, manufacturing, and i(ann.fate,bll.dol.HcM "3 &% factures (index: 1987=100) : 1964 65 66 67 68 69 70 71 NOTE.—Current data for these series are shown on page C-2. 72 73 74 75 76 77 78 79 80 J 81 J* !>,*?••? 82 83 84 85 86 87 88 89 90 1991 C-i5 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Consumption, Trade,.Orders, and Deliveries Dec. P Nov. T Nov. P Jan. July P T Mar. T July P Nov. T 7.Manufacturers' new orders tn 19821 , disable goods industries (bfl, dol.) n, consumer goods (Index: 1W7s100) stores in 1982 dollars (bil.dol.} The Conferenct Board (Indw: 1985=100) 1964 65 66 67 68 69 70 71 Norn-Current data for these series are shown on page C-2. 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-16 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Fixed Capital Investment Dec P Nov. T Nov. P Mar. T Jan. July P T July P Nov T UNtftt jsiness formation(indcpi96W|H| I |H ' : 160140120 - iii 100 - 80-* 70- 13. Number of new business 6050- 40 - 30- 60 50 40- — 30- 20- a Construction contracts awardsd for biddings1 (mil. sq.ft. of floor 110 100 90 80 70 60 50 40 1964 65 66 67 68 69 70 71 72 73 74 75 76 77 78 1. This is a copyrighted series used by permission; it may not be reproduced without written permission from McGraw-Hill Information Systems Company, F.W. Dodge Division. NOTE.—Current data for these series are shown on page C-2. 79 80 81 82 83 84 85 87 88 89 90 1991 J C-17 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Fixed Capital Investment-Continued Jan. July P T Dec. Nov. P T July P Nov. T (rant and equipment dollars, Q (ann. rate, machinery and equipment sale* end expenditures (amt rate, bit *>l.) Hdustrial production, business equipment (index: 1987=100) Gross private (ami. rate, Ml. doi.) 1964 65 66 67 68 69 70 71 NoTE.-Gurrent data for these series are shown on page C-3. 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-18 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Fixed Capital Investment-Continued Dec. Nov. Nov. Mar. P T P T Jan. July P T July Nov. P T 28. New private housing units started (inn. rale, millions) 1.00.8 J 89. Gross private residential fixed investment in 1982 dollars, Q (ann. rait, bil. dol.) £ £ Q Inventories and Inventory Investment 30. Change in business Inventories in 1982 dollars, Q (aim. rate, bil. dol.) 31. Change in manufacturing and trade inventories (ami. rate, bil. dol.; 6-term moving avg.) f T p l -30- -90-J 1964 65 66 67 68 69 70 71 NoTE.-Current data for these series are shown on page C-3. 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 SURVEY OF CURRENT BUSINESS October 1991 C-19 CYCLICAL INDICATORS Prices, Costs, and Profits Dec. P Nov. T Nov. P Mar T Jan. July P T July P Nov T 23. Spot market prices, raw industrial materials1 (index: 1967=100) 18. Co^orate profits after tax in 1982 dottars, Q (ann. rate, bil. dd.) 16. Corporate profits after tax in current dollars, Q (ann. rate, bil. dol.) 22. Ratio, coiporate domestic profits after fax to corporate domestic Income, Qtoercent) 81. Ratio, corporate corporate domestic profits aftei Q (percent) IVAandCCAdjto 26. RatiMnpllcit price defliter to unit labor cost, nonfarm business "~ secfcf, Q (index: 1982=18$ f HJTI 1964 65 66 67 68 69 70 71 72 73 74 75 76 77 78 IVA Inventory valuation adjustment. CCAdj Capital consumption adjustment. 1. From June 1981 forward, this is a copyrighted series used by permission; it may not be reproduced without written permission from Commodity Research Bureau, Inc. NOTE.—Current data for these series are shown on page C-3. 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-20 SURVEY OF CURRENT BUSINESS October 1991 CYCLICAL INDICATORS Money and Credit Dec. P Nov. Nov. P T Mar. Jan. July July Nov T P T P T 85. Change in money supply M1 (percent; 6-term moving avg.) Ill 101 Change in money supply M2 (percent; 6-term moving avg4 i' 112. Net chmg» In business loans (ann. njte, Ml. dol.; 6-term moving i 113. Net change in consumer installment cttcft 1000 110. Funds raised by private nonfinancW borrows* in credtt markets, Q (ann. rate, bil. dol.) 800600 400 200 1964 65 66 67 68 69 70 71 NoTE.-Current data for these series are shown on page C-4. 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-21 SURVEY OF CURRENT BUSINESS bctober 1991 i Money and Credit-Continued Dec. Nov. P T Nov. P Mar. T Jan. July P T July P Nov. T 119. federal funds rate (percent) 116. Yield on new issue* of high-grade caiptfate Alternative Comp 990. CIBCR long-leading com] 1964 65 66 67 68 69 70 71 72 73 CIBCR Center for International Business Cycle Research (Columbia University). NoTE.-Current data for these series are shown on page C-4. 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 1991 C-22 SURVEY OF CURRENT BUSINESS Other Measures Price Movements Jan. July P July Nov. P T T October 1991 Jan. July P T July Nov. P T Percent change at annual rate 311c. Fixed-weighted price Index, gross domestic business product (1-Q span) 293. Personal saving rate, Q (percent) Consumer Price Indexes for all urban consumers— 40- : \ ^ 0 298. Government surplus or deficit, Q (ann. rate, bil. doi.) -40 323c. All Items less food and energy -80 Producer Price Indexes— -120 336c. Finished goods -160 -200 337c Finished goods less foods and energy [9] 370c. Change in output per hour, all persons, business sector (ann. rate, percent) 334c. Finished consumer goods 564. Federal Qcwernment purchases of goods and services, national defense, Q (ann. rate, M . dot.) *r^ ^v^^ 333c. Capital equipment 332c. Intermediate materials, supplies, and components 2 " " "~ ~ 620. Merchandise imports, adjusted, excluding military, Q (ann. rate, bil. dol.) •i 550 - 331c Crude materials for further processing 250- 618. Merchandise exports, adjusted, 150-1 1979 80 81 82 83 84 85 86 87 NOTE—Current data for these series are shown on pages C-4 and C-5. 88 89 90 1991 1979 80 81 82 83 84 85 86 87 88 89 90 1991 C-23 SURVEY OF CURRENT BUSINESS October 1991 OTHER IMPORTANT ECONOMIC MEASURES International Comparisons: Industrial Production Jan. July P T July P Nov. T International Comparisons: Consumer Prices Jan. July P T July P Nov. T t change over 6-month span, annual rate Industrial pnxkjctionM 47. United States 721. OBCO European countries i iH . Federal Republic of Germany III 725. Federal Republic of Germany 1979 80 81 82 83 84 85 86 NOTE.—Current data for these series are shown on page C-5. 87 88 89 90 1991 1979 80 81 82 83 84 85 86 87 88 89 90 1991 C-24 SURVEY OF CURRENT BUSINESS October 1991 IMPORTANT ECONOMIC MEASURES International Comparisons: Stock Prices Jan. July P T July P Nov. T International Comparisons: Exchange Rates Jan. July P T July P Nov. T 750. «feighte<Hwage exchange value of the U.S. dollar (iftdex: M i 1973=1001 Stock prices— 19. UnHed States per U.S. dollar758. Japan (yen) 745. Federal Republic of Germany 7SL United Kingdom (pound) 1979 80 81 82 83 84 85 86 NOTE.—Current data for these series are shown on page C-5. 87 88 89 90 1991 1979 80 81 82 83 84 85 86 87 88 89 90 1991 C-25 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series Feb. May Apr. Mar. June Aug. July Oct. Sept Dec. Nov. 910. Composite index of 11 leading indicators (1982.100) 38.2 34.8 37.7 34.9 38.3 34.8 38.1 35.5 37.7 37.1 37.4 40.3 46.2 41.7 44.9 41.8 37.8 35.3 40.7 45.9 41.8 44.8 42.0 41.3 44.7 41.8 44.7 42.4 42.4 442 41.9 44.4 43.0 42.7 42.9 42.8 43.8 43.6 44.4 42.0 42.8 43.7 .44.1 46.1 412 43.5 42.7 44.3 45.6 41.3 44.9 41.8 44.9 48.2 51.1 50.0 46.5 53.8 49.1 50.7 49.8 46.1 54.5 49.7 50.9 49.5 46.5 55.3 49.9 51.0 49.1 46.7 55.3 502 502 49.1 47.6 55.4 50.3 49.9 49.0 48.5 55.4 50.8 50.3 48.7 49.7 552 50.6 50.4 48.6 50.6 54.7 51.0 502 47.9 51.5 54.8 1960 1961 1962 1963 1964 55.0 54.2 59.9 62.2 66.1 54.3 54.6 60.6 62.8 66.6 53.4 55.4 60.6 63.3 67.0 53.4 56.1 60.3 63.8 67.5 53.5 56.8 59.7 64.3 68.0 53.5 57.4 59.1 642 682 53.9 58.4 59.6 64.3 69.5 54.0 58.0 60.0 64.8 70.1 1965 1966 1967 1968 1969 71.7 75.8 73.3 78.0 83.1 72.1 76.9 72.6 79.2 82.7 72.0 76.7 72.9 78.5 83.1 72.6 75.9 73.6 79.0 82.9 79.0 79.8 88.1 97.3 95.5 772 97.8 94.9 76.7 83.2 90.8 97.6 92.7 76.6 83.4 93.6 97.8 94.4 76.3 82.8 90.3 97.6 93.1 72.5 75.4 74.5 79.2 82.3 76.9 83.3 91.4 97.5 91.1 72.7 74.4 76.5 792 81.7 1970 1971 1972 1973 1974 . 71.7 76.0 72.9 78.7 82.9 77.9 1975 . 1976 1977 1978 1979 78.0 93.0 98.5 101.9 105.3 78.0 94.0 99.3 102.9 105.5 78.7 94.4 99.7 103.0 106.1 812 94.4 100.3 104.1 1045 83.1 95.3 100.8 104.3 105.1 84.3 96.1 101.3 104.5 104.6 53.7 57.5 59.5 64.1 69.0 72.8 75.1 75.4 79.6 81.8 76.6 83.3 92.5 97.4 90.0 85.7 97.3 101.1 104.6 103.1 1982 1983 1984 101.2 102.8 97.2 106.8 123.1 101.5 101.5 98.9 109.1 123.4 98.0 102.0 98.3 111.4 123.3 95.3 103.5 99.1 1135 123.3 93.6 103.7 99.4 115.3 123.0 94.9 102.7 98.8 116.9 121.8 1985 1986 1987 1988 1989 1990 . 121.4 128.4 136.8 139.4 145.9 145.7 121.7 129.4 137.7 141.0 145.6 122.2 130.4 138.1 141.3 144.7 121.8 131.5 138.6 141.4 145.7 122.7 131.5 139.1 141.8 144.3 123.8 132.4 140.7 143.4 144.2 144.3 145.4 145.3 146.3 146.3 1948 . 1949 . 1950 . 1951 1952 1953 1954 37.9 35.7 37.5 35.5 39.8 46.9 41.4 44.8 41.4 1955 1956 1957 1958 1959 . 96.9 102.0 99.4 118.2 121.3 124.1 132.8 142.4 142.5 144.0 146.1 372 37.6 45.6 41.3 44.3 41.7 45.8 36.9 38.3 45.4 41.0 44.3 41.3 46.7 36.3 38.9 37.6 36.3 45.8 412 44.5 41.4 47.4 43.3 43.2 43.0 43.3 44.0 512 50.6 47.0 53.0 54.0 51.3 50.4 45.6 52.9 552 50.3 50.5 43.6 49.3 54.8 53.7 59.4 612 65.4 70.8 74.9 73.1 772 81.9 80.5 53.7 59.9 61.7 65.6 712 53.8 572 602 64.2 68.7 73.3 74.0 76.7 80.2 81.9 50.9 50.4 475 52.1 54.5 53.8 58.8 602 65.1 70.3 74.1 73.3 76.9 81.4 81.1 75.6 72.8 78.1 82.3 802 73.0 75.0 75.1 79.8 62.0 76.7 83.9 94.5 97.0 85.3 76.5 84.6 95.0 96.9 83.4 88.2 97.7 101.9 106.1 103.0 89.2 97.5 101.8 107.1 101.6 78.7 87.0 96.8 95.8 79.1 90.6 98.8 103.1 105.4 100.6 77.2 83.3 92.3 97.2 97.4 101.5 105.0 102.7 76.9 85.4 95.9 972 81.1 90.1 98.0 102.3 106.3 100.8 84.5 9S2 101.0 104.6 103.6 98.9 102.1 98.8 118.4 120.9 101.1 100.0 100.6 119.6 120.6 1025 985 101.8 121.1 119.4 104.1 97.8 103.0 121.9 120.1 102.8 97.8 104.7 122.1 120.3 992 1012 100.0 1162 121.7 125.1 132.9 143.1 143.3 144.6 125.8 132.9 143.1 143.1 145.3 126.0 134.4 1422 143.3 144.6 126.2 135.3 1402 1435 145.0 127.6 137.1 139.4 144.7 145.7 124.0 132.4 140.1 142.4 145.0 144.3 1432 141.5 139.9 139.6 144.0 920. Composite index of 4 coincident indicators (1982=100) 39.3 35.3 39.4 35.8 39.3 36.4 39.4 34.7 39.0 35.4 38.6 35.7 38.8 36.2 392 44.3 44.9 49.5 44.8 39.2 36.0 40.0 44.3 44.6 49.3 45.0 41.7 43.7 43.8 49.5 44.8 42.9 44.0 45.8 48.8 44.8 42.4 43.9 47.0 48.4 45.0 42.5 442 47.9 472 462 43.5 44.3 48.4 46.3 46.S 40.3 44.1 45.8 48.7 45.4 49.0 52.4 52.6 46.6 532 49.6 52.1 52.4 46.7 53.7 49.8 52.1 52.5 47.3 53.9 50.4 50.3 52.5 48.0 535 50.3 51.9 52.5 48.5 51.8 50.8 52.4 51.9 48.9 51.7 42.6 44.1 47.7 482 45.3 512 52.9 51.3 49.3 51.4 54.2 51.4 56.0 57.7 61.1 53.9 52.0 56.0 58.0 615 53.6 52.7 56.0 58.1 61.6 53.3 52.8 56.3 58.4 62.2 53.0 53.3 565 58.4 62.6 52.7 53.4 56.4 58.8 63.0 52.6 54.1 56.6 592 62.4 51.9 532 49.6 502 53.9 512 55.1 56.6 59.6 S4.6 49.8 522 52.1 48.3 525 54.2 51.1 55.7 57.3 60.4 51.6 52.7 50.6 50.5 52.1 51.8 54.8 56.9 59.0 635 65.1 71.3 74.7 78.1 82.4 65.9 72.2 74.7 78.4 83.1 662 72.3 74.8 78.7 832 66.6 72.7 74.8 792 83.4 67.9 73.6 752 802 84.4 $8.0 73.8 75.8 80.2 84.6 68.3 73.9 75.8 805 84.8 69.1 74.4 75.6 81.0 85.1 69.8 74.3 76.9 81.7 84.4 70.5 74.5 77.9 81.9 84.4 83.3 81.3 85.7 95.2 95.6 83.3 81.5 86.6 95.1 95.2 83.0 81.8 87.5 95.0 94.7 825 82.1 882 962 952 82.1 96.1 945 81.9 82.6 902 96.4 94.1 80.1 82.7 91.6 975 93.7 79.4 83.4 93.0 98.3 91.5 80.9 842 94.1 972 88.6 82.1 82.3 88.9 96.1 94.2 85.9 90.8 95.7 102.1 110.9 84.4 91.0 96.6 103.5 112.0 85.1 922 98.6 1072 111.1 872 93.0 100.4 108.5 110.4 87.7 92.7 100.9 109.5 110.7 86.3 92.3 98.7 106.7 110.8 109.5 108.0 102.6 98.4 110.7 1052 107.4 101.7 1002 111.4 104.3 107.9 100.5 101.4 1125 104.9 108.3 98.9 102.1 113.1 107.1 106.3 97.3 105.4 113.4 108.5 103.8 97.0 107.6 114.9 1072 107.3 100.0 101.9 112.3 1985 , 1986 . 1987 . 114.9 118.1 119.9 126.8 133.3 115.5 118.1 121.7 127.7 133.4 116.0 118.0 121.9 128.7 133.4 116.4 118.7 122.5 129.3 133.4 116.0 118.4 122.8 130.0 133.4 116.3 119.0 123.6 130.0 133.5 132.5 133.6 134.1 133.6 1342 134.6 117.0 119.8 125.7 131.7 133.3 130.1 118.0 121.1 127.3 132.6 133.7 1990 105.6 1075 982 104.1 1135 116.7 119.7 124.4 130.7 1335 132.8 87.7 94.1 101.3 110.1 110.6 108.1 105.1 972 1062 1142 88.3 952 101.8 110.9 110.4 110.5 108.2 103.0 97.6 110.2 85.5 92.6 99.3 107.4 111.0 104,1 108.4 99.6 102.3 113.0 115,7 118.4 123.7 130.7 133.0 1342 86.7 92.7 99.6 108.0 110.8 111.0 108.5 102.1 97.9 109.1 84.8 91.7 972 106.0 1102 107.4 107.8 102.0 99.1 111.0 116.4 119.4 1222 128.8 1342 82.7 822 87.8 95.4 952 84.8 92.0 97.8 106.4 111.4 67.1 73.5 75.0 79.8 83.8 82.4 82.4 87.6 95.8 952 53.3 52.7 56.1 58.2 61.9 67.4 73.1 75.5 79.8 83.8 128.9 132.8 38.4 37.8 36.4 43.9 44.3 48.6 45.9 38.1 37.4 38.3 37.0 36.7 38.5 36.1 36.3 43.8 45.0 49.0 45.9 37.3 44.1 44.9 49.5 45.3 38.2 442 44.8 49.5 45.1 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 47.2 52.0 52.9 48.9 51.1 47.5 52.0 53.4 47.9 51.6 48.4 52.0 53.2 47.3 52.3 54.7 51.0 54.7 56.6 59.7 54.5 50.8 55.3 57.1 60.3 1965 1966 1967 1968 64.7 70.9 75.0 77.5 82.0 1970 1971 1972 1973 1974 1975 1976 1977 . 1978 . 1979 . 83.5 81.5 85.4 94.4 96.3 87.2 89.8 95.3 101.1 110.5 1980 1981 1982 1983 1984 . . . , . 1949.. 1950 1951 1952 1953 1954 116.4 118.7 1242 130.8 133.9 134.0 116.6 119.4 126.3 132.1 133.0 131.5 C-26 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued YEAR Jan. Feb. Apr. Mar. May June July Nov. Oct Sept. Aug. Annual Dec. 930. Composite index o! 7 tagging indicators (1982-100) 34.3 338 34.0 34.6 34.7 342 34.6 344 33.4 34.6 342 41.7 44.8 494 45.8 355 41.7 44.8 499 456 36 9 41.9 44.7 50 0 455 38.3 42.1 45.1 50 4 45^ 380 42.9 45.6 507 45.6 35.3 41.1 445 4fl7 47.1 47.0 57.7 59 0 542 59.6 492 496 57.8 61.8 54.5 644 50.8 57.6 615 54.8 65.3 51.9 58.0 62.2 544 652 52.0 60.7 534 61.5 62.6 552 642 47.9 55.9 599 565 597 66 4 61.0 64.1 66.1 68.8 65.8 61.0 642 66.7 69.6 641 61.3 642 67.0 70.0 63 8 61.3 64.3 67.3 70.6 64.3 61.1 64,5 680 70.3 64.6 61.6 64 8 682 70.5 649 62.2 63.6 662 69.3 73.4 82.9 84.9 91.0 74.1 80.9 82.4 85.9 91.2 742 81.1 82.7 86.0 91.7 74.8 812 82.7 860 92.1 75,5 82.3 82.2 662 922 76.0 82.3 82.5 86.7 925 73.6 79.6 82.6 84.8 90.4 92.6 85 9 86.9 92.0 100.1 92.0 86 6 66^ 93.1 100.4 92.3 87 7 665 92.9 100.7 91,7 879 864 94.4 102.1 91.3 871 86.5 94.9 101.9 90.9 86 5 86:3 957 102.3 895 86 4 86.1 97.1 103.5 92.3 874 86.2 92.3 1002 94.6 86.9 88.1 934 101.1 91 0 862 89.0 942 102.4 89 9 86:3 89.3 94.8 102.8 633 86:3 89.9 95.3 103.7 881 867 90.3 96.0 105.2 680 872 907 96.3 106.1 87 9 867 912 97.8 107.2 880 864 91.3 983 107.3 931 87.0 89.1 94.8 102.8 113.6 99.4 101.7 909 97.9 112.3 1022 101.4 90.1 99.6 109.7 103.3 101.7 90.1 100.9 104.9 103.5 101.1 90.4 101.8 101.1 103.9 99.7 91.4 103.2 98.7 105.7 98.6 914 104.3 97.4 105.3 97.1 91.6 105.1 98.4 104,9 952 92.7 105.0 101.2 104.3 93.0 93.6 105.0 105.5 102.8 100.0 91.4 100.7 1062 112.5 109.9 113.5 1187 105.9 111,6 109.9 113.8 118.1 106.6 111.7 109.9 113.7 1192 106.8 111.6 110.0 114.0 119.6 107.7 1119 110.0 113.9 119.6 107.9 111.7 110.0 114.4 120.1 108.4 110.8 111.6 114.7 120.0 109.4 111.8 111.5 114.9 120.3 1097 1114 112.1 1162 120.1 110.1 110.4 111.8 116.1 120,0 1075 111.4 110.6 114.3 119.3 119.6 119.9 119.6 119.1 119.6 119.0 119.1 118.6 118.5 119.2 1192 1543 1949 323 349 32.6 35.1 32.7 349 32.7 348 32,8 35,0 32.8 34.5 1950 1951 1952 1953 1954 345 38.7 43 5 459 502 344 394 434 46 4 49.7 342 40 0 43.7 46 7 45 8 344 40.4 43.5 47 7 475 344 409 44.2 438 47.4 34 3 41.5 451 49 0 46.7 340 41.8 45.4 49 0 465 19S5 1956 1957 1958 1959 45 4 524 582 61.6 54.8 453 52.6 57,7 600 55.1 456 534 582 59 7 55.2 454 546 585 585 55.6 45.9 558 589 562 57.0 46.7 56.1 590 55 0 58.6 1960 1961 1962 1963 1964 63.4 645 62.2 64.9 632 639 643 62.3 65.1 68.4 64,7 636 ^2.5 64.9 68.7 65 0 63.0 630 651 690 66 0 623 634 65.3 63.7 66 4 61.6 64.0 65.6 692 1965 1966 1967 1963 1969 71.1 762 822 62.4 87.6 71.9 76.9 82.4 828 87.9 72.2 77.2 827 83.5 88,4 728 78.1 82.7 841 892 735 791 824 84.5 900 73.3 79.7 82.8 84.9 90.9 1970 1971 1972 1973 1974 932 69.3 85.4 87.6 97,7 936 689 850 88.7 97.8 94.2 882 85.7 895 97.4 93.3 872 859 90.8 98.6 92.7 86.8 86.3 91.1 99.5 1975 1976 1977 1978 1979 102.5 880 869 925 988 101 0 87.9 87.2 92.7 99.4 1OO0 67.8 87.5 933 988 969 87.1 878 92.7 101.1 1980 1981 1982 1983 1984 108.3 1012 104.9 91.9 94.0 108 8 100.7 103.5 91.7 S5.3 111,4 996 102.1 91.0 96.4 1985 1986 1987 1988 1989 105.5 110.7 111.3 112.9 117.0 105.3 1108 1096 113.1 1185 1990 119.3 119.2 33.1 34.4 806 34.0 34.0 572 577 940. Ratio, coincident composite index to lagging composite index (1982 =100) 1948 1943 1189 108.3 116.9 106.6 117.1 106,0 1165 105.5 117.4 103.1 119.5 104.3 118.7 102.6 115.9 105.3 114,6 1077 115.9 100.3 112.4 103.5 111.6 103.8 116.3 1045 1950 1951 1952 1953 1954 105.5 113.4 101.8 1059 91.4 105 5 1112 103,7 105 6 92.4 1091 1102 102.7 1060 92.8 111 0 1094 103.0 1038 944 1140 108.3 101.6 101 4 94.5 116.6 1067 98.9 1006 %A 1226 1045 965 101 0 96^ 125.4 1055 102.2 988 975 119.4 1055 104.9 970 987 115.4 1055 106.7 964 995 111 0 10^0 106,2 937 101.8 1145 1035 106.1 91 3 1022 1142 107.3 102.9 1001 1955 1956 1957 1958 1959 1040 992 90.9 79.4 932 104 9 939 92.5 79.8 93 5 1061 97.4 91.4 79.2 94.7 1079 96.0 89.9 79.7 95.7 108.1 93.4 890 83.1 942 1066 92.9 89.0 86.0 92.0 1072 87.2 89.0 88.6 89.8 1022 90.7 1024 90.7 84.0 89.7 B03 1008 91.8 83.4 90.0 78.7 994 90.9 81.4 92.8 79.9 998 922 792 90.9 84.0 1041 93.4 87.2 855 88.4 I960 196! 1962 1963 1964 86.3 79 1 87.9 872 87.5 85.3 790 83.8 87 7 882 838 80 3 89.1 833 87.9 83.4 61 6 883 836 88.6 81.7 83 5 88.3 83.8 895 80.7 85 6 87:5 88.6 89.0 80.3 86 6 87^ 88 4 904 eao 876 893 822 87.1 875 87.8 90^ 824 883 88:0 880 884 80.6 89 7 832 86 8 905 79.3 89 4 875 87 4 915 82.2 848 88:1 87.9 895 1965 1966 1967 1968 1969 91.0 93.0 91.2 94.1 93.6 90,5 92.7 90 7 94.3 93.7 91.3 935 903 939 94.0 90.9 92 6 904 936 93.3 90.6 91.9 90.8 93.7 92.7 91.5 90.6 94.0 922 925 91 3 907 94.5 92.7 915 912 92.0 93.4 925 92.0 91 1 917 93.6 925 92.4 91 6 914 942 92.4 925 903 936 945 915 92.8 905 944 945 912 91.7 91 8 915 94.1 927 1970 1971 1972 1973 1974 89.6 91.3 10O.0 107.8 98 6 89.0 91.5 100.8 107.3 97.8 88.4 92.4 101.1 106.3 97.7 890 101.9 104.6 96.0 892 94.7 101.7 104.7 95.7 89.0 95.9 100.8 104.1 95.1 89.7 94.8 101.6 103.3 94.8 88.9 93.3 103.2 103.4 93.8 89.3 94.0 104.4 102.1 922 877 94.9 105.9 102.7 92.0 87.3 964 107.8 102.7 89.4 904 97.5 109.3 100.1 85.6 89.0 942 1032 104.1 94.1 1975 1976 1977 1978 1979 851 102.0 109.7 109.3 111.8 850 103.3 1C9.7 110.1 111.6 84.4 103.6 110.4 110.9 113.4 875 1053 110.7 114.3 109.0 89 6 1055 111.0 113.9 1102 93.5 107.0 110.8 113.8 108.5 95.1 1073 1112 113.3 108.0 97.6 1074 110.8 113.3 1068 99.0 107 3 111.2 113.0 104.9 997 1063 111.2 1137 104.3 998 1085 nu 112.6 1032 100.3 1102 1115 112.8 102.9 93.1 1062 1105 112.6 . 1075 I960 1981 1982 1983 1984 102.5 107 2 97.3 1065 116.1 101.6 107 4 99.5 106 4 115.6 983 108.4 100.5 108,1 1148 94.5 108.5 1003 109.0 1134 93.7 105.1 100.3 1112 111.8 95.1 104.5 98.8 1125 1115 992 104.7 98.5 113.2 1110 103.8 1042 111.7 1095 107.0 1017 99.6 1139 108:8 1100 100.9 1002 1151 1075 109.9 1002 102.1 114 6 1085 1072 99.5 104.3 1150 109^ 101.9 104.4 100.1 111 4 1115 1985 1986 1S87 1368 1969 108.9 106? 107.7 112.3 113.9 1C9.7 1C6.6 111.0 1129 112.9 1092 104.9 1109 113.4 112.4 109.9 107.0 1112 1132 113.6 1092 1063 111.5 113.7 111.9 108.6 106.1 111.6 114.0 111.5 107.4 1058 112.5 114.7 111.0 107.9 106.3 112.9 114.3 1115 107.7 108.0 1115 113.9 111.2 106.6 106.8 113.3 1150 110.6 1067 107.5 112.1 113.3 111.0 1072 109.7 113.9 1142 111.4 108.3 1065 1117 1137 111.9 1122 113.0 112.2 112.6 110.9 109.8 , 1990 . > 938 922 865 90.8 842 805 874 992 965 C-27 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued Jan. YEAR Mar. Feb. May Apr. July June Sept Aug. • Nov. Oct Annual Dec. 950. Diffusion index of 11 leading indicator components (percent rising over 1-month span) 1948 1949 20.0 27.8 35.0 66 7 25.0 61.1 30.0 33 3 60^0 61 1 40.0 200 90.0 20.0 70.0 90.0 o 70.0 55.0 150 80.0 0 80.0 1950 1951 1952 1953 1954 100.6 65.0 60.0 54.5 54.5 90.0 45.0 65.0 59.1 72.7 65.0 40.0 60.0 59.1 72.7 80.0 50.0 45.0 40.9 90.9 80.0 45.0 65.0 36.4 90.9 60.0 10.0 90.0 18.2 90.9 80.0 20.0 60.0 27.3 86.4 70.0 30.0 60.0 9.1 63.6 30.0 55.0 80.0 182 72.7 50.0 60.0 50.0 36.4 100.0 15.0 40.0 60.0 36.4 77J3 50.0 50.0 54.5 54.5 til 64.2 425 62.5 37.5 78.8 1955 1956 1957 1958 1959 90.9 31.8 18.2 45.5 81.8 90.9 13.6 36.4 36.4 81.8 63.6 36.4 31.8 63.6 72.7 682 40.9 27.3 54.5 54.5 63.6 9.1 40.9 90.9 54.5 54.5 36.4 40.9 90.9 36.4 682 54.5 27.3 90.9 27.3 36.4 54.5 45.5 81.8 22.7 63.6 40.9 22.7 90.9 45.5 45.5 40.9 36.4 72.7 31.8 63.6 59.1 0 81.8 27.3 45.5 36.4 18.2 50.0 72.7 62.9 37.9 26.8 70.8 50.8 1960 1961 1962 1963 1964 27.3 54.5 54.5 77.3 72.7 36.4 72.7 72.7 81.8 63.6 9.1 81.8 45.5 72.7 50.0 45.5 90.9 45.5 63.6 72.7 54.5 86.4 182 72.7 63.6 45.5 81.8 182 50.0 59.1 59.1 72.7 682 45.5 72.7 36.4 100.0 45.5 54.5 81.8 455 27.3 81.8 77.3 72.7 182 81.8 63.6 72.7 63.6 45.5 63.6 90.9 50.0 72.7 63.6 81.8 682 63.6 54.5 40.6 74.6 56.1 65.1 66.6 1965 1966 1967 1968 1969 72.7 68.2 63.6 36.4 86.4 50.0 63.6 54.5 63.6 36.4 63.6 63.6 40.9 63.6 31.8 59.1 45.5 - 45.5 455 54.5 72.7 182 72.7 50.0 31.8 45.5 13.6 86.4 59.1 22.7 40.9 22.7 77.3 54.5 182 54.5 36.4 100.0 36.4 31.8 54.5 182 54.5 90.9 59.1 81.8 13.6 54.5 86.4 182 72.7 182 59.1 72.7 13.6 72.7 36.4 90.9 59.1 36.4 61.7 34.9 66.7 59.9 36.7 1970 1971 1972 1973 1974 9.1 72.7 86.4 63.6 45.5 9.1 72.7 81.8 54.5 18.2 182 77.3 682 45.5 59.1 9.1 682 54.5 36.4 27.3 54.5 50.0 54.5 63.6 36.4 45.5 54.5 81.8 36.4 9.1 63.6 54.5 63.6 54.5 22.7 36.4 45.5 81.8 27.3 4.5 63.6 63.6 682 45.5 9.1 54.5 72.7 545 455 13.6 54.5 68.2 81.8 54.5 9.1 77.3 100.0 81 £ 27.3 182 41.3 66.7 71.6 46.2 22.7 1975 1976 1977 1978 1979 9.1 81.8 36.4 182 36.4 36.4 54.5 54.5 54.5 50.0 45.5 54.5 45.5 45.5 81.8 90.9 54.5 59.1 682 27.3 90.9 63.6 59.1 45.5 54.5 90.9 63.6 63.6 54.5 31.8 86.4 90.9 36.4 45.5 22.7 682 45.5 63.6 682 27.3 72.7 54.5 59.1 72.7 63.6 72.7 54.5 54.5 63.6 13.6 81.8 545 77.3 455 182 63.6 63.6 63.6 45.5 36.4 67.4 61.3 56.1 52.3 38.6 1980 1981 1982 1983 1984 72.7 22.7 36.4 72.7 72.7 59.1 18.2 54.5 81.8 63.6 18.2 50.0 45.5 90.9 54.5 9.1 90.9 50.0 100.0 45.5 27.3 36.4 59.1 86.4 36.4 63.6 36.4 27.3 90.9 22.7 81.8 182 682 90.9 455 90.9 54.5 36.4 59.1 36.4 100.0 0 72.7 81.8 45.5 81.8 36.4 90.9 90.9 27.3 77.3 36.4 90.9 682 59.1 54.5 54.5 90.9 59.1 31.8 61.4 37.9 60.2 81.1 45.1 1985 1986 1987 1988 1989 77.3 63.6 31.8 40.9 72.7 54.5 63.6 54.5 72.7 31.8 45.5 54.5 63.6 59.1 27.3 36.4 63.6 63.6 54.5 72.7 81.8 54.5 45.5 45.5 182 63.6 54.5 86.4 63.6 50.0 40.9 36.4 682 36.4 45.5 81.8 54.5 59.1 45.5 50.0 59.1 45.5 45.5 54.5 50.0 72.7 682 54.5 31.8 36.4 40.9 72.7 27.3 455 545 72.7 90.9 182 545 63.6 60.6 60.2 515 50.4 47.7 1990 36.4 36.4 68.2 36.4 63.6 40.9 31.8 31.8 13.6 27.3 273 455 38.3 * . 563 950. Diffusion index of 11 leading indicator components (percent rising over 6-month span) 20.0 20.0 55 6 30.0 444 50.0 222 100.0 333 20.0 111 100.0 o 9Q.Q 100.0 10 0 100.0 100 100.0 20.0 100.0 692 100.0 50.0 60.0 55.0 72.7 100.0 55.0 60.0 36.4 72.7 100.0 30.0 50.0 27.3 77.3 90.0 25.0 80.0 182 90.9 80.0 20.0 60.0 182 77.3 80.0 30.0 100.0 9.1 86.4 80.0 20.0 80.0 9.1 90.9 70.0 20.0 80.0 9.1 100.0 80.0 20.0 80.0 18.2 90.9 65.0 50.0 70.0 27.3 90.9 40.0 70.0 90.0 455 90.9 60.0 70.0 50.0 45.5 90.9 78.8 38.3 71.7 26.6 86.0 1955 1956 1957 . 1958 ] 1959 90.9 54.5 9.1 36.4 90.9 90.9 182 9.1 54.5 81.8 90.9 27.3 9.1 77.3 81.8 90.9 273 182 90.9 54.5 81.8 36.4 182 100.0 36.4 682 13.6 182 100.0 22.7 72.7 182 182 100.0 182 63.6 63.6 0 100.0 9.1 72.7 36.4 0 100.0 27.3 63.6 54.5 9.1 100.0 27.3 455 27.3 116 90.9 455 36.4 36.4 182 90.9 182 72.3 34.5 11.8 86.7 42.8 1960 1961 '. 1962 ... 1963 1964 36.4 77.3 63.6 86.4 90.9 54.5 100.0 22.7 90.9 81.8 9.1 905 27.3 81.8 77.3 182 90.9 36.4 81.8 72.7 36.4 100.0 22.7 63.6 72.7 54.5 100.0 31.8 63.6 81.8 36.4 100.0 182 81.8 72.7 36.4 81.8 72.7 •77.3 86.4 36.4 90.9 81.8 682 90.9 45.5 86.4 86.4 63.6 90.9 409 905 86.4 90.9 63.6 59.1 90.9 81.8 86.4 63.6 38.7 91.7 52.7 78.0 78.8 1965 1966 1967 1968 1969 63.6 81.8 36.4 59.1 72.7 63.6 63.6 45.5 68.2 36.4 68.2 50.0 54.5 59.1 27.3 45.5 40.9 63.6 72.7 27.3 50.0 182 81.8 45.5 182 63.6 13.6 90.9 59.1 27.3 81.8 0 90.9 81.8 182 81.8 0 909 90.9 0 90.9 9.1 90.9 90.9 0 81.8 36.4 72.7 90.9 9.1 Til 36.4 72.7 90.9 0 81.8 36.4 682 72.7 0 70.4 322 71.6 73.5 19J 1970 1971 1972 1973 1974 9.1 100.0 100.0 81.8 0 182 100.0 90.9 63.6 0 9.1 90.9 81.8 63.6 182 9.1 682 81.8 455 22.7 182 63.6 100.0 36.4 9.1 182 63.6 100.0 27.3 9.1 27.3 63.6 95.5 36.4 9.1 45.5 81.8 90.9 40.9 0 63.6 81.8 72.7 31.8 0 63.6 100.0 72.7 36.4 0 81.8 100.0 81.8 36.4 9.1 90.9 100.0 81.8 182 182 37.9 1975 1976 1977 1978 1979 36.4 90.9 63.6 72.7 36.4 50.0 90.9 63.6 682 18.2 72.7 86.4 68.2 72.7 27.3 90.9 77.3 72.7 63.6 36.4 100.0 72.7 63.6 63.6 27.3 100.0 72.7 63.6 81.8 9.1 90.9 59.1 63.6 63.6 27.3 86.4 682 59.1 63.6 182 81.8 63.6 72.7 54.5 31.8 100.0 54.5 455 545 182 90.9 63.6 545 405 36.4 100.0 455 72.7 50.0 9.1 83.3 70.5 63.6 625 24.S 9.1 45.5 36.4100.0 81.8 9.1 36.4 54.5 100.0 72.7 182 27.3 59.1 100.0 45.5 9.1 182 63.6 100.0 182 •27.3 63.6 45.5 100.0 36.4 45.5 9.1 54.5 100.0 27.3 86.4 0 54.5 90.9 36.4 100.0 9.1 54.5 81.8 27.3 100.0 9.1 72,7 81.8 27.3 81.8 182 81.8 81.8 36.4 72.7 182 100.0 81.8 36.4 72.7 27.3 90.9 77.3 45.5 52.7 45.5 72.7 81.8 31.8 54.5 54.5 86.4 63.6 45.5 27.3 63.6 63.6 72.7 86.4 31.8 59.1 45.5 81.8 77.3 18.2 72.7 45.5 72.7 77.3 27.3 81.8 54.5 72.7 63.6 54.5 818 63.6 72.7 59.1 27.3 81.8 72.7 54.5 63.6 455 81.8 81.8 545 50.0 54.5 81.8 72.7 36.4 77.3 45.5 86.4 81.8 40.9 50.0 36.4 63.6 100.0 45.5 40.9 40.9 71.2 70.1 6Z5 602 38.6 68.2 54.5 54.5 63.6 45.5 22.7 31.8 9.1 9.1 0 182 182 33.0 1948 1949 1950 Z~. 1951 1952 1953 1954 _ 1980 1981 1982 _ 1983 » 1984 „ _ 1985 1936 1987 1988 1989 1990 . NOTE.—Diffusion indexes are centered within the spans: 1-month indexes are ptaced on the ending month, and 6-month indexes are placed on the 4th month. 87.5 432 8.0 235 64.0 91.3 40.9 C-28 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Apr. Feb. May June Aug. July Sept Annual Oct. 951. Diffusion index of 4 coincident indicator components (percent rising over 1-month span) 1943 .... 1949 .... 50.0 0 75.0 25.0 75.0 0 75.0 0 100.0 37.5 75.0 0 62.5 100.0 62.5 100.0 1950 1951 1952 1953 1954 .... .... .... .... .... 75.0 75.0 75.0 100.0 25.0 . 50.0 62.5 100.0 100.0 50.0 100.0 75.0 50.0 100.0 0 100.0 75.0 50.0 62.5 25.0 100.0 50.0 62.5 62.5 50.0 75.0 50.0 50.0 50.0 75.0 100.0 12.5 0 62.5 37.5 100.0 50.0 100.0 0 37.5 50.0 37.5 100.0 25.0 87.5 1955 1956 1957 1958 .... .... .... .... 100.0 6Z.5 25.0 0 75.0 100.0 50.0 100.0 0 100.0 100.0 87.5 50.0 25.0 100.0 100.0 100.0 12.5 0 100.0 100.0 25.0 25.0 75.0 87.5 75.0 75.0 100.0 100.0 100.0 0 62.5 100.0 50.0 50.0 100.0 62.5 75.0 0 12.5 100.0 50.0 100.0 75.0 0 75.0 100.0 75.0 100.0 100.0 100.0 87.5 100.0 87.5 1959 .... 100.0 12.5 100.0 250 75.0 36.5 75.0 87.5 87.5 25.0 100.0 50.0 62.5 50.0 0 100.0 100.0 75.0 100.0 0 75.0 81.3 59.4 68.8 49.0 55.2 100.0 100.0 0 100.0 25.0 75.0 100.0 0 87.5 25.0 100.0 50.0 12.5 100.0. 100.0 100.0 100.0 0 62.5 100.0 92.7 70.8 35.4 60.4 72.9 0 100.0 100.0 75.0 75.0 25.0 75.0 50.0 100.0 100.0 37.5 100.0 100.0 100.0 25.0 0 100.0 87.5 50.0 100.0 25.0 100.0 37.5 75.0 100.0 29.2 84.4 75.0 84.4 83.3 100.0 75.0 62.5 75.0 100.0 75.0 100.0 100.0 75.0 100.0 87.5 50.0 50.0* 100.0 75.0 100.0 100.0 37.5 100.0 100.0 100.0 50.0 100.0 100.0 12.5 100.0 100.0 100.0 75.0 50.0 91.7 84.4 75.0 82.3 77.1 75.0 0 1950 1961 1962 1963 1964 1965 1966 1967 1968 1969 .... .... .... .... .... .... .... .... .... .... 100.0 50.0 25.0 62.5 750 25.0 50.0 100.0 100.0 87.5 25.0 100.0 100.0 100.0 62.5 62.5 62.5 100.0 100.0 100.0 62.5 87.5 100.0 12.5 75.0 100.0 100.0 37.5 75.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 75.0 87.5 75.0 75.0 37.5 100.0 50.0 75.0 100.0 75.0 75.0 62.5 100.0 50.0 1970 1971 1972 1973 1974 .... .... .... .... .... 0 100.0 100.0 62.5 50.0 37.5 25.0 75.0 100.0 25.0 50.0 87.5 100.0 50.0 62.5 25.0 100.0 100.0 50.0 25.0 25.0 100.0 75.0 75.0 100.0 25.0 62.5 75.0 75.0 75.0 1O0.0 37.5 50.0 87.5 75.0 12.5 37.5 100.0 62.5 12.5 50.0 100.0 100.0 75.0 375 0 75.0 100.0 100.0 50.0 12.5 100.0 100.0 100.0 0 100.0 100.0 100.0 25.0 0 36.5 77.1 89.6 71.9 42.7 1975 1976 1977 1978 1979 .... .... .... .... 25.0 100.0 75.0 50.0 25.0 0 100.0 100.0 87.5 75.0 12.5 75.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 0 50.0 75.0 75.0 75.0 87.5 75.0 100.0 100.0 100.0 62.5 100.0 100.0 100.0 75.0 75.0 100.0 75.0 75.0 100.0 50.0 100.0 100.0 100.0 75.0 37.5 100.0 62.5 100.0 100.0 87.5 62.5 100.0 87.5 100.0 62.5 100.0 100.0 87.5 100.0 37.5 66.7 90.6 91.7 88.5 58.3 1980 1981 1982 1983 1984 100.0 62.5 0 75.0 100.0 50.0 50.0 87.5 25.0 87.5 37.5 75.0 ' 50.0 100.0 87.5 0 75.0 25.0 100.0 75.0 0 37.5 62.5 100.0 75.0 25.0 87.5 0 100.0 100.0 25.0 87.5 12.5 100.0 75.0 100.0 25.0 0 50.0 75.0 87.5 12.5 0 100.0 75.0 100.0 0 25.0 100.0 50.0 75.0 0 75.0 100.0 100.0 75.0 0 37.5 100.0 87.5 56.3 42.7 31.3 87.5 82.3 1985 1986 1987 1988 1989 50.0 75.0 25.0 75.0 100.0 100.0 50.0 100.0 87.5 50.0 100.0 50.0 75.0 100.0 75.0 100.0 100.0 100.0 75.0 75.0 75.0 37.5 75.0 100.0 25.0 50.0 25.0 75.0 100.0 75.0 25.0 50.0 100.0 75.0 50.0 100.0 100.0 100.0 75.0 75.0 100.0 100.0 50.0 50.0 37.5 50.0 75.0 100.0 100.0 50.0 100.0 100.0 25.0 75.0 100.0 75.0 100.0 100.0 100.0 75.0 77.1 71.9 77.1 84.4 65.6 25.0 100.0 100.0 50.0 100.0 100.0 50.0 50.0 25.0 25.0 25.0 54.2 951. Diffusion index of 4 coincident indicator components (percent rising over 6-month span) 1948 . 1949 . o 100.0 0 100.0 0 100.0 25.0 100.0 0 75.0 50.0 50.0 50.0 0 100.0 0 75.0 100.0 33.3 100.0 75.0 62.5 100.0 25.0 100.0 50.0 50.0 100.0 37.5 100.0 50.0 100.0 62.5 25.0 100.0 50.0 100.0 25.0 50.0 100.0 62.5 100.0 25.0 50.0 100.0 75.0 100.0 25.0 100.0 100.0 500 100.0 0 100.0 75.0 100.0 100.0 0 100.0 75.0 100.0 100.0 0 100.0 75.0 100.0 100.0 0 100.0 93.8 74.0 92.7 44.8 57.3 100.0 50.0 50.0 0 100.0 100.0 25.0 62.5 37.5 100.0 100.0 50.0 25.0 75.0 75.0 100.0 100.0 25.0 100.0 50.0 100.0 100.0 25.0 100.0 12.5 100.0 100.0 12.5 100.0 50.0 100.0 100.0 0 100.0 50.0 100.0 100.0 0 100.0 100.0 75.0 100.0 0 100.0 100.0 97.9 82.3 27.1 67.7 78.1 25.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 12.5 100.0 100.0 100.0 100.0 25.0 100.0 100.0 100.0 100.0 0 100.0 100.0 1000 100.0 0 100.0 100.0 100.0 100.0 0 100.0 100.0 100.0 100.0 100.0 100.0 0 100.0 100.0 25.0 100.0 100.0 100.0 100.0 25.0 100.0 100.0 100.0 100.0 34.4 91.7 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 50.0 100.0 100.0 100.0 100.0 50.0 100.0 75.0 100.0 100.0 50.0 100.0 95.8 91.7 100.0 85.4 1950 1951 1952 1953 1954 . . . . . 100.0 75.0 100.0 100.0 0 100.0 100.0 100.0 100.0 0 1955 1956 1957 1958 1959 . . . . . 100.0 100.0 50.0 0 100.0 100.0 62.5 75.0 0 100.0 1960 1961 1962 1963 1964 . . . .. . 100.0 25.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 50.0 100.0 100.0 100.0 100.0 1965 1966 1S67 1968 1969 . . . . .. 100.0 100.0 75.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 50.0 100.0 100.0 100.0 100.0 100.0 10O.0 75.0 100.0 100.0 1970 1971 1972 1973 1974 ., .. ., .. ., 50.0 100.0 100.0 100.0 50.0 50.0 100.0 100.0 100.0 25.0 12.5 10O.0 100.0 75.0 50.0 25.0 100.0 100.0 75.0 75.0 25.0 100.0 100.0 75.0 50.0 50.0 100.0 100.0 75.0 50.0 0 100.0 100.0 100.0 75.0 0 100.0 100.0 100.0 0 0 100.0 100.0 100.0 0 50.0 100.0 100.0 75.0 0 37.5 100.0 100.0 50.0 0 75.0 100.0 100.0 50.0 0 31.3 100.0 100.0 81.3 31.3 1975 1976 1977 1978 1979 .. .. .. .. .. 0 100.0 100.0 100.0 75.0 0 100.0 100.0 100.0 100.0 0 100.0 100.0 100.0 87.5 12.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 50.0 100.0 100.0 100.0 100.0 25.0 100.0 87.5 100.0 100.0 100.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 50.0 67.7 99.0 97.9 100.0 76.0 1980 1981 1982 1983 1984 .. .. .. .. .. 25.0 75.0 0 100.0 100.0 0 75.0 50.0 100.0 100.0 0 75.0 12.5 100.0 100.0 0 75.0 25.0 100.0 100.0 0 75.0 0 100.0 100.0 12.5 50.0 0 100.0 100.0 50.0 50.0 0 100.0 100.0 100.0 25.0 0 100.0 100.0 100.0 0 0 100.0 100.0 100.0 0 37.5 100.0 750 100.0 0 50.0 100.0 75.0. 100.0 0 75.0 100.0 100.0 49.0 41.7 20.8 100.0 95.8 1985 1986 1987 1988 1989 .. .. .. .. .. 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 75.0 75.0 100.0 75.0 100.0 75.0 100.0 100.0 75.0 100.0 75.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 75.0 75.0 100.0 100.0 25.0 75.0 100.0 100.0 100.0 75.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0 50.0 100.0 100.0 100.0 100.0 75.0 75.0 100.0 100.0 100.0 100.0 93.8 91.7 97.9 100.0 79.2 1990 .. 100.0 100.0 100.0 100.0 100.0 50.0 . 75.0 50.0 NOTE—Diffusion indexes are centered within the spans: 1-month indexes are placed on the ending month, and 6-month indexes are placed on the 4th month. 50.0 C-29 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued YEAR Mar. Feb. Jan. Apr. May June Aug. July Annual Dec. Nov. Oct. Sept 952. Diffusion index of 7 lagging indicator components (percent rising over 1-month span) 1348 1949 5S!3 75.0 58.3 50.0 41.7 58.3 33.3 58.3 58.3 66.7 25.0 91.7 41.7 75.0 25.0 75.0 25.0 50.0 83.3 75.0 25.0 33.3 66.7 58.3 75.0 58.3 75.0 25.0 41.7 66.7 41.7 75.0 25.0 16.7 58.3 75.0 58.3 25.0 41.7 58.3 41.7 100.0 16.7 41.7 58.3 75.0 66.7 25.0 41.7 58.3 91.7 50.0 25.0 58.3 58.3 58.3 41.7 33.3 75.0 41.7 8.3 58.3 16.7 91.7 66.7 58.3 58.3 25.0 66.7 58.3 58.3 50.0 41.7 75.0 667 58.3 58.3 58.3 50.0 83.3 75.0 58.3 58.3 54.9 62.5 58.3 62.5 31.3 50.G 75.0 71.4 21.4 50.0 41.7 75.0 28.6 42.9 64.3 58.3 75.0 64.3 35.7 78.6 41.7 83.3 78.6 7.1 71.4 75.0 100.0 85.7 14.3 85.7 91.7 66.7 50.0 14.3 71.4 58.3 78.6 78.6 14.3 78.6 100.0 42.9 50.0 7.1 92.9 83.3 57.1 78.6 42.9 85.7 100.0 35.7 50.0 35.7 85.7 83.3 71.4 786 35.7 286 58.3 42.9 57.1 78.6 28.6 70.1 67.0 64.3 29.2 68.5 35.7 50.0 85.7 57.1 42.9 64.3 28.6 64.3 42.9 57.1 92.9 21.4 64.3 42.9 57.1 64.3 50.0 71.4 57.1 64.3 85.7 21.4 78.6 71.4 35.7 64.3 21.4 78.6 71.4 85.7 50.0 21.4 64.3 57.1 42.9 42.9 64.3 57.1 92.9 78.6 42.9 71.4 50.0 64.3 64.3 28.6 57.1 42.9 57.1 78.6 78.6 50.0 64.3 786 42.9 35.7 85.7 50.0 64.3 50.0 57.2 45.2 64.3 63.1 58.3 78.6 71.4 42.9 50.0 78.6 57.1 71.4 57.1 64.3 71.4 50.0 50.0 50.0 78.6 57.1 71.4 92.9 35.7 78.6 78.6 71.4 71.4 50.0 42.9 85.7 57.1 78.6 64.3 78.6 85.7 50.0 78.6 57.1 57.1 50.0 64.3 57.1 14.3 64.3 42.9 64.3 57.1 64.3 57.1 64.3 64.3 50.0 50.0 57.1 64.3 64.3 78.6 28.6 57.1 64.3 71.4 57.1 57.1 64.3 57.1 63.7 67.9 47.6 62.5 66.7 7e.e 23.6 14.3 78.6 57.1 57.1 50.0 28.6 85.7 50.0 42.9 28.6 64.3 71.4 28.6 42.9 7.1 42.9 100.0 50.0 35.7 42.9 78.6 64.3 71.4 50.0 28.6 50.0 71.4 57.1 28.6 71.4 42.9 64.3 50.0 57.1 92.9 35.7 42.9 64.3 7.1 50.0 35.7 85.7 64.3 42.9 21.4 42.9 57.1 42.9 21.4 28.6 50.0 57.1 71.4 7.1 42.9 57.1 64.3 42.9 39.3 41.1 45.3 70.2 54.2 28.6 28.6 42.9 78.6 71.4 35.7 42.9 64.3 71.4 64.3 28.6 42.9 64.3 85.7 57.1 0 50.0 71.4 50.0 92.9 0 50.0 71.4 85.7 50.0 0 57.1 71.4 71.4 71.4 42.9 50.0 64.3 85.7 71.4 14.3 57.1 78.6 71.4 57.1 28.6 57.1 64.3 78.6 85.7 50.0 64.3 71.4 50.0 57.1 28.6 28.6 85.7 92.9 64.3 57.1 S5.7 42.9 71.4 50.0 26.2 47.0 66.1 74.4 66.1 71.4 35.7 64.3 28.6 57.1 71.4 42.9 28.6 50.0 92.9 57.1 42.9 28.6 42.9 64.3 57.1 71.4 28.6 28.6 85.7 57.1 100.0 35.7 21.4 78.6 50.0 71.4 64.3 57.1 57.1 0 50.0 35.7 42.9 85.7 0 64.3 57.1 71.4 92.9 28.6 85.7 35.7 57.1 85.7 14.3 71.4 14.3 42.9 64.3 50.0 57.1 14.3 78.6 50.0 50.0 57.1 28.6 78.6 64.3 42.3 62.5 36.3 50.0 73.2 71.4 64.3 64.3 85.7 57.1 42.9 50.0 28.6 50.0 85.7 57.1 85.7 64.3 57.1 64.3 28.6 21.4 50.0 57.1 42.9 57.1 42.9 50.0 50.0 64.3 57.1 50.0 50.0 64.3 50.0 78.6 50.0 35.7 50.0 57.1 57.1 28.6 35.7 64.3 57.1 50.0 28.6 85.7 71.4 35.7 71.4 78.6 71.4 64.3 50.0 50.0 357 50.0 71.4 50.0 71.4 28.6 35.7 42.9 42.9 57.7 47.0 51.8 60.7 54.8 28.6 42.9 50.0 50.0 35.7 50.0 50.0 21.4 35.7 50.0 357 57.1 42.3 . . . 1950 1951 1952 1953 1954 . . . 1955 1956 1957 1958 1959 . 1960 1961 1962 1963 1964 . 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 . 1975 1976 1977 1978 1979 . 1980 1981 . 1982 1983 . 1984 1985 1986 1987 1988 1989 .. 1990 ... 45"i 952. Diffusion index of 7 lagging indicator components (percent rising over 6-month span) 1948 . 1949 58.3 41.7 41.7 750 41.7 667 33.3 833 25.0 667 41.7 100.0 25.0 91.7 33.3 1000 25.0 750 58.3 75 0 58.3 40.3 1950 1951 1952 1953 1954 58.3 83.3 58.3 91.7 41.7 58.3 83.3 66.7 91.7 16.7 58.3 66.7 66.7 100.0 0 41.7 83.3 58.3 100.0 8.3 41.7 75.0 58.3 83.3 0 66.7 58.3 58.3 83.3 0 83 3 667 58.3 66.7 8.3 100.0 66.7 41.7 66.7 8.3 100.0 58.3 41.7 75.0 8.3 83.3 66.7 41.7 58.3 25.0 83.3 83.3 58.3 58.3 41.7 83.3 83.3 58.3 50.0 41.7 71.5 72.9 55.6 77.1 16.7 41.7 100.0 78.6 28.6 71.4 41.7 100.0 78.6 14.3 85.7 50.0 100.0 78.6 0 85.7 58.3 100.0 64.3 0 85.7 91.7 100.0 85.7 0 100.0 83.3 83.3 85.7 0 100.0 100.0 75.0 71.4 14.3 100.0 91.7 75.0 71.4 28.6 100.0 91.7 57.1 57.1 28.6 100.0 100.0 71.4 57.1 28.6 857 83.3 71.4 57.1 71.4 57.1 100.0 64.3 42.9 71.4 57.1 77.8 83.1 690 238 85.7 1960 1961 1962 . 1963 . - " . ' " " [ 1964 50.0 28.6 78.6 50.0 64.3 64.3 21.4 92.9 643 35.7 78.6 21.4 78.6 500 42.9 78.6 21.4 92.9 64.3 35.7 71.4 21.4 85.7 85.7 50.0 71.4 21.4 64.3 929 5o!o 57.1 21.4 64.3 85.7 57.1 57.1 28.6 50.0 92.9 64.3 35.7 50.0 57.1 78.6 64.3 42.9 64.3 64.3 85.7 78.6 42.9 71.4 50.0 64.3 64.3 35.7 64.3 357 64.3 64.3 57.1 36.3 67.9 732 56.0 1965 1966 1967 1968 1969 64.3 92.9 57.1 64.3 78.6 64.3 100.0 42.9 78.6 100.0 78.6 100.0 57.1 85.7 100.0 50.0 85.7 57.1 71.4 100.0 78.6 85.7 57.1 100.0 78.6 78.6 85.7 42.9 85.7 78.6 64.3 71.4 57.1 78.6 92.9 64.3 85.7 42.9 57.1 71.4 85.7 71.4 42.9 71.4 57.1 71.4 57.1 42.9 85.7 78.6 71.4 42.9 57.1 57.1 78.6 857 42.9 57.1 78.6 57.1 71.4 76.8 51.2 76.2 81.0 1970 1971 1972 1973 1974 57.1 28.6 42.9 85.7 100.0 42.9 28.6 28.6 100.0 100.0 42.9 14.3 42.9 100.0 85.7 42.9 14.3 71.4 100.0 57.1 42.9 35.7 71.4 71.4 57.1 28.6 42.9 71.4 85.7 71.4 28.6 57.1 71.4 71.4 57.1 28.6 57.1 42.9 71.4 50.0 14.3 42.9 42.9 100.0 57.1 21.4 14.3 64.3 71.4 57.1 14.3 0 71.4 85.7 42.9 28.6 28.6 857 64.3 28.6 32.8 30.4 58.9 83.9 63.7 28.6 42.9 57.1 85.7 85.7 28.6 42.9 57.1 71.4 78.6 0 28.6 78.6 78.6 100.0 0 57.1 71.4 71.4 85.7 0 64.3 929 71.4 78.6 0 71.4 100.0 71.4 85.7 14.3 57.1 85.7 78.6 71.4 28.6 28.6 78.6 71.4 B5.7 28.6 42.9 78.6 92.9 57.1 14.3 57.1 85.7 78.6 57.1 14.3 57.1 857 85.7 71.4 28.6 57.1 78.6 57.1 57.1 15.5 50.6 79.2 76.2 76.2 1980 1981 1982 1983 1984 71.4 42.9 42.9 14.3 92.9 71.4 78.6 14.3 14.3 100.0 57.1 64.3 28.6 28.6 85.7 28.6 71.4 28.6 28.6 92.9 28.6 57.1 28.6 28.6 85.7 28.6 85.7 28.6 42,9 100.0 0 85.7 28.6 57.1 92.9 0 71.4 14.3 71.4 71.4 14.3 57.1 7.1 85.7 85.7 28.6 71.4 7.1 857 71.4 28.6 71.4 14.3 85.7 71.4 28.6 50.0 14.3 857 57.1 32.2 67.3 21.4 52.4 83.9 1985 1986 1987 1988 1989 42.9 57.1 42.9 78.6 78.6 42.9 64.3 42.9 85.7 85.7 50.0 42.9 35.7 85.7 85.7 64.3 50.0 57.1 57.1 85.7 57.1 42.9 57.1 71.4 57.1 57.1 28.6 71.4 85.7 42.9 71.4 28.6 57.1 50.0 71.4 64.3 28.6 85.7 71.4 71.4 57.1 42.9 64.3 78.6 50.0 71.4 28.6 85.7 71.4 42.9 85.7 28.6 857 92.9 28.6 857 357 71.4 92.9 28.6 62.5 39.9 63.1 76.8 607 28.6 35.7 42.9 35.7 50.0 50.0 50.0 50.0 357 35.7 35.7 42.9 41.1 . . . . 1955 1956 . 1957 . 1958 1959 1975 1976 1977 . 1978 1979 1990 . . NOTE.—Diffusion indexes are centered within the spans: 1-month indexes are placed on the ending month, and 6-month indexes are placed on the 4th month. C-30 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued YEAR FeO. Jan. Apr. Ma/. May June Aug. July Ott Sept Dec. Nov. Annual 1. Average vveekJy hours of production or nonsupervisory workers, manufacturing (hours) 1043 1949 40.4 394 402 394 40.4 391 40.4 388 402 38.9 40.2 33.9 40.1 39.1 40.0 39.0 396 39.4 39.7 39.4 39.7 390 39.5 39.3 40.0 39.1 1950 1951 1952 1953 1954 396 408 4Q7 410 395 397 40.8 407 410 39.7 397 41.0 406 411 395 40.1 412 401 41.1 39.4 402 40.9 40.4 40.9 395 40.5 40.7 40 5 407 396 40.8 40.5 40.1 40.6 398 41.1 402 40 5 40.4 397 408 40.4 41.0 39.8 39-5 40.9 402 41 1 40.0 39.6 40.9 40.3 410 39.8 40.1 40.8 40.6 41 1 39.6 40.0 40.5 40.6 407 40.5 39.6 1955 1956 1957 1958 1959 40.3 40 8 403 388 40.1 40.5 406 40.4 386 402 40.7 40.4 402 387 40.4 40.6 40.6 40.1 38.6 40.5 40.9 402 398 388 406 40.6 40.1 39.9 39.0 40.5 40.6 402 39.9 392 402 40.6 40.2 39.8 39.4 40.3 407 40.4 39.7 39.6 40.1 40.9 40.5 39.3 39.5 40.1 41.0 40.4 392 33 8 39.8 40.8 40.5 39.0 39.8 402 40.7 40.4 39.8 39.2 40.3 1960 1961 1962 1963 1964 40.5 302 400 40.4 40.1 40.1 33.3 403 40.3 40 6 39.9 394 40.5 40.4 406 39.7 39.6 40.7 402 408 40.0 39.6 40.5 40.5 40.7 39.8 39.9 404 40.6 407 39.8 40.0 40 4 40.5 40.8 397 40.1 40.3 40.4 40.9 39.4 395 40 5 40.6 40.5 39.6 40.2 402 40.6 40.6 392 40.5 403 40.5 40.8 38.4 40.3 40 2 40.6 41.1 39.7 39.8 404 40.5 407 412 41.4 4V0 403 40.7 41 2 41.$ 40.4 409 40.4 41 4 41.5 40.4 40,7 40 8 41 0 4i!5 40,5 400 40.7 412 41.4 40.4 40.9 40.7 41 1 4U 40.4 409 407 41 1 412 40.5 40.8 40.6 41.0 414 40.6 407 40.6 408 4U 40.7 40.9 407 41 2 4U 40.6 40.9 40.6 41 3 412 40.6 408 40.4 41 4 40S 407 407 40.5 41.2 41^4 40.6 40.7 40^6 402 1965 1966 1967 1968 1969 _ 1970 1971 1972 1973 1974 404 399 397 402 404 40.5 40.4 40.9 40.4 40.1 398 404 40.8 40.4 39.9 39.7 40.7 40.9 393 39.8 39.9 40.5 40.7 40.3 39.9 40.0 40.6 40.6 402 40.0 39.9 40.5 40.7 40.2 39.8 39.8 40.6 40.5 40.2 39.3 39.4 40.6 407 40.0 39.5 39.9 407 40.6 40.0 395 40.0 40.8 407 39.5 39.5 402 405 40.6 39.3 39.8 39.9 40.5 407 40.0 1975 1976 1977 197B 1979 392 40.5 397 396 405 389 40.3 40.3 399 405 388 402 40.2 40.5 40.6 392 39.6 40.4 408 392 39.0 40.3 40.4 40.4 402 392 402 40.5 40.5 40.2 394 40.3 40.3 40.6 40.2 39 7 40.1 40.4 40.5 40.1 399 39.8 40.4 40.6 402 398 40.0 40.5 40.5 402 39.9 40.1 40.4 40.6 40.1 402 40.0 40.4 40.6 402 39 5 40.1 40.3 40.4 402 1980 1931 1982 1983 1984 40.0 40.1 33.0 394 40.7 40.1 39.9 396 392 41.0 39.8 40.0 391 396 40.7 39.5 40.1 38.9 398 40.9 39.3 40.1 39.0 40.0 407 392 40.0 39.1 40.1 407 39.1 39.9 392 40.3 40.6 39.4 39.9 39.0 40.3 40.5 39.6 397 390 406 40.5 39.8 39.7 38.9 407 40.5 40.0 39.4 39.1 40.6 40.5 40.3 39.4 39.1 40.6 40.6 39.7 39.8 38.9 40.1 407 40.4 408 409 41,1 41.1 40.1 406 412 41.0 41.1 40.4 40.8 410 41.0 41.1 40.3 40.6 40.9 41.1 412 40.4 407 41.0 41.0 41.0 40.5 40.8 41.0 41.1 41.0 40.4 40.6 41.0 41.1 40.9 40.6 408 41.0 41.0 40.9 40.6 407 40.9 41.1 40.9 40.7 407 41.1 41.1 407 407 40.8 412 412 40.8 40.9 40.9 41.1 41.0 40.6 40.5 40.7 41.0 41.1 41.0 407 40.8 40.9 40.7 409 40.9 40.9 40.9 40.9 407 40.6 407 40.8 1985 1966 1987 1983 1989 . .„ 1990 5. Average weekly initial dams for unemployment insurance. State programs (thous.) 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 ... 1959 206 305 166 _ 285 294 288 181 201 177 318 174 221 175 303 ."." 240 22$ 225 407 256 218 242 354 292 284 271 429 295 301 270 248 219 231 196 186 256 286 262 223 315 532 281 210 379 239 377 219 359 194 340 202 385 218 320 203 336 211 344 234 298 209 343 166 209 188 320 263 199 219 179 313 250 199 213 198 313 252 209 242 195 314 223 236 315 207 294 170 254 207 229 319 132 242 168 238 322 194 234 175 251 315 200 210 169 293 276 197 213 190 230 253 232 210 211 218 305 228 221 219 436 258 228 223 239 438 244 222 236 244 400 246 222 227 246 410 258 223 245 267 350 264 233 224 235 363 291 204 236 305 338 271 224 214 302 314 311 215 223 320 311 351 214 230 355 320 275 226 227 267 370 279 303 379 287 288 277 294 381 283 293 2$5 316 358 301 288 262 322 334 304 284 257 335 348 303 282 260 363 316 305 290 244 351 329 300 373 304 304 282 249 385 305 299 276 262 381 296 310 301 251 331 348 299 290 260 237 182 256 194 185 237 179 224 192 236 195 182 224 194 231 194 197 231 199 231 192 195 248 195 212 199 196 194 195 209 203 220 188 202 212 208 209 190 211 206 219 204 190 210 228 201 225 194 193 262 294 258 227 302 326 231 260 238 302 290 262 234 294 291 289 286 233 314 273 285 272 232 294 287 325 246 247 350 319 307 245 241 374 329 294 250 244 419 322 283 241 251 473 299 265 236 284 494 292 291 257 240 351 491 394 358 331 358 442 393 370 347 377 449 389 368 339 383 447 410 363 321 378 420 409 357 326 400 393 390 347 340 420 364 361 342 347 428 468 381 368 338 379 420 551 531 378 386 430 446 573 426 366 201 333 276 I960 1961 1962 1963 1964 301 310 283 1965 1S66 1967 1968 1969 243 222 196 206 179 1970 1971 1972 1973 1974 240 292 264 226 294 1975 1976 1977 . 1978 1979 „ 522 360 394 343 353 340 427 381 352 536 358 346 335 346 411 496 392 378 324 341 416 424 £63 507 364 397 410 514 478 345 438 413 566 479 348 532 395 566 470 360 616 401 585 453 343 581 405 551 406 350 510 395 533 380 365 495 421 605 408 358 438 483 653 387 368 447 517 651 405 422 539 616 381 397 1985 1986 1987 1988 1989 . 378 3T5 355 345 298 402 348 310 • 304 389 395 326 302 320 387 371 313 299 301 383 370 321 304 314 392 374 320 295 328 381 363 286 323 338 375 376 299 299 316 381 330 294 290 323 367 361 289 291 358 371 351 303 298 344 391 350 308 304 360 383 370 314 305 325 1990 369 352 347 357 346 350 365 370 337 425 460 455 382 1980 1981 _ 1982 1963 1984 " 393 " ".. 373 259 193 181 2S9 521 371 371 322 285 245 218 197 217 38$ C-31 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued Apr. Mar. Fet). Jan. YEAR May June Aug. July Annual Dec. Nov. Oct. Sepi 6. Manufet&sets' new orders in 1982 dotta,*s. consumer goods and materials industries (bfi. $) 28.07 2506 27.81 2427 2930 23.77 28.50 22.71 29.36 22.82 3159 21.78 31.07 23.31 30.64 2639 28.93 2722 27.99 25.42 27.11 2654 25.95 26.06 346.32 29535 £8.09 4614 32.84 42.17 31.11 2821 41.27 33.04 40.40 32.75 28.01 42.38 36.92 4097 32.86 29.32 3858 38.10 42.38 33.00 32.70 37.05 3355 4127 33.00 3238 35.87 38.97 40.52 34.69 41.08 35.67 36.62 40,11 33.17 46.00 3257 35.76 35.03 34.15 36.33 3125 37.73 3134 3532 36.67 34.62 35.78 30.32 3635 33.42 3337 35.92 30.86 3852 35.39 32.30 3851 31.14 4129 40820 441.07 434.04 44551 41651 4331 4197 4047 35 73 42.95 42.37 41.72 42.15 32.93 46.12 46.00 41.45 4129 3390 46.36 44.77 42.06 39.97 33.79 45.52 44.43 40.74 39.79 3522 4430 45.32 39.79 40.13 36.79 4425 46.16 40.04 38.54 37.62 42.88 4477 40.61 38.99 3955 4036 44.05 39.56 39.13 38.92 40.61 4355 4056 37.46 39.84 40.60 45.18 41.02 35.99 41.84 4020 44.30 41.40 33.94 41.36 43.38 534.81 49222 457.85 447.49 518.13 4224 3S.17 47,10 47,53 52.36 41.25 38.10 46.07 49.06 51.12 40.31 40.72 45.97 49.47 50.76 40J1 42.19 43.91 51.00 53.42 4054 43.61 44.96 49.67 52.41 4122 44.46 44.46 48.19 53.02 40.86 42.81 4570 50.18 54,81 42.04 4433 46.48 47.72 5257 41.99 44.47 4632 48.79 56.09 4054 44.42 4758 50.60 52.89 40.18 46.81 47.44 50.43 5424 39.94 48.37 4626 50.02 56.13 491.62 519.06 552.65 592.68 63952 57.42 £1.44 6008 64 42 68.57 57.46 6229 59.85 65 02 68 40 57.64 64.66 59.50 65.C2 68.52 57.61 63.19 60.12 64.51 68.43 57.40 6222 61.16 65.B3 6833 5737 6231 6152 6562 6737 5975 61.40 6039 65.16 68.49 5956 61.55 63.91 62.01 68.39 5550 62.93 61.92 68.61 6950 58.46 63.04 60.83 69.06 6936 60.65 61.35 6250 6962 66.67 62.02 60.89 67.62 67.77 66.93 701.94 74757 740.30 792.85 619.56 6347 65.54 6382 82.06 D037 62.91 65.56 70.65 83.36 79.77 62.55 65.94 7023 8360 77.81 6226 64.42 7049 80.70 78.66 6328 63.85 7126 8254 80.83 64.44 6331 72.69 81.42 7932 6231 64.10 70.98 6151 7631 62.73 65.82 7451 81.19 76.60 62.44 65.48 7727 80.34 7358 5855 65.15 76.54 81.49 7126 5820 6659 77.94 8222 69.12 64.31 68.00 79,98 7924 62.77 748.05 783.76 881.36 979.67 907.00 61.96 70.70 7915 81 13 68.43 61.91 72.36 79.35 82.46 86.96 59.24 73 86 83.30 84.43 89.30 61.91 7326 80.67 88 33 85.72 6254 74.39 81.74 87.76 87.41 63.34 74.89 8278 8849 8738 66.64 7423 82.38 66.63 6453 6830 74.64 82.60 87.82 8259 68.34 74.37 62.66 87.01 83.79 6820 7259 8224 88.11 8150 67.69 75.B0 6427 8887 8074 68.57 78.84 64.53 91.15 8022 77864 68933 986.07 1,042.19 1,019.17 1930 1981 1982 1983 1984 61.62 74,15 68.60 71.47 66.10 82.00 77.56 69.22 72.67 8656 77.30 77.66 72.75 72.25 85.02 71.39 78.85 70.69 73 e9 84.56 68.08 79 45 7055 76.07 85.16 68.85 79.80 7126 7758 83.33 71.16 78.18 7126 7837 85.68 73.36 75.36 6922 79.42 85.84 76.84 74.11 70.46 80.14 62.63 8026 71.61 67.39 83.00 B3.37 7924 69.99 6733 83.45 8420 79.18 69.89 67.98 84.82 63.66 90928 906.61 837.01 933.73 1,016.11 1965 1986 1987 1983 1989 8894 69.50 86.39 90.70 S7.72 8295 86 45 90.34 91.54 95.90 84 24 85.15 9128 91.04 92.00 8347 86.75 91.02 90.32 95.31 8518 84.14 90.44 55.16 92.96 85.01 87.36 9301 92.58 93.11 8422 85.77 9228 9317 8929 85 45 86.32 91.13 92.54 9470 8632 88.79 93.15 94.39 95.03 8524 87.86 93.52 9322 92.94 66.06 8433 92.52 94.38 94.98 84.82 89.98 91.35 9979 93.12 1,02250 1,043.05 1.056.43 1,113.85 1.127.06 1990 89.00 91.56 9459 93.61 9639 94.67 93 60 96.32 92.32 93.07 87.67 83.11 1.106.31 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 195B 1959 _„ „.„.. -.. „ I960 1%1 1962 19$3 1964 „ „„ _.. 1965 1966 1967 1968 1969 1970 ig71 1972 1973 1974 ,„...„„ 1975 1976 1977 1978 1979 .... 19. Index of stock prices, 500 common stxks. NSA (1941-43*10) 14.83 1536 1948 1949 14.10 14.77 14.30 14.91 1540 14.89 16.15 14.78 1682 13.97 16.42 1476 15.94 1529 15.76 15.49 16.19 1559 1529 16.11 15.19 16.54 15.53 1523 1874 21.55 24.33 2395 28.96 17.38 21.93 2508 2429 30.13 18,43 22.89 2518 24.39 30.73 19.08 23 48 24.78 2327 31.45 19.87 2336 24.26 2397 32.18 19.83 2271 25.C3 24.50 33.44 19.75 23.41 26.04 24.83 34.97 18.40 22.33 2450 2473 29.59 1950 1951 1952 1953 . 1954 16.88 21.21 2419 ££.18 2546 1721 22.00 23.75 25.86 26.02 17.35 2163 2381 25 99 2657 17.84 21.92 2374 2471 27.63 18.44 21.93 23.73 24 84 28.73 1955 ... 1956 . 1957 . 1958 . 1959 35.60 44.15 45.43 41,12 5562 36.79 44 43 43.47 4126 54.77 36.50 47.49 44.03 42.11 56.15 37.76 4805 45.05 42.34 57.10 37.60 46.54 46.78 43.70 5736 39.78 4627 4755 44.75 57.46 42.69 48.78 48.51 45.98 5974 4243 48.49 4584 47.70 59.40 44.34 45.84 43.98 48.96 57.05 42.11 4654 4124 50.95 57.00 4435 4576 40.35 52.50 5723 45.37 46.44 40.33 53.49 59.06 40.49 46.62 44.38 4624 57.38 1960 . 1961 1962 1963 1964 .. .. 5803 59.72 6907 65.06 76.45 5578 62.17 7022 65.92 77.39 5502 64.12 7029 65.67 7880 55.73 65.83 68.05 68 76 79.94 5522 66.50 62.99 70.14 80.72 5726 65 62 55.63 70.11 8024 55.84 65.44 56.97 69 07 8322 5651 67.79 58.52 7038 82.00 5451 6726 58.00 72.85 83.41 53 73 68.00 56.17 73 03 84 85 5547 71.08 60.04 72.62 65.44 56.80 71.74 62.64 74.17 83.96 55.85 6527 62.38 69.66 81.37 . . 85.12 9332 e4 45 9504 102.04 8675 92.69 87.36 9075 101.46 66 83 68.88 89 42 89 09 99.30 87.97 91.60 90.96 95.67 10126 89.28 86.78 9259 97.87 104.62 85.04 85.06 91.43 100.53 99.14 84.91 85.84 93.01 10030 94.71 86.49 80.65 94.49 98.11 94.18 89.38 77.81 95.81 101.34 94.51 91.39 77.13 9566 103.76 95.52 92.15 80.99 92.66 10540 9621 91.73 31.33 95.30 106.48 91.11 88.17 85.26 91.93 98.70 97.64 1970 1971 1972 . 1973 . . 1974 . 90.31 9349 103 30 118 42 96.11 87.16 97.11 105.24 11416 93.45 88 65 99 60 107.69 11242 97.44 85 95 103 04 10881 11027 92 46 76.06 101.64 107.65 10722 89.67 75.59 9972 108.01 104.75 89 79 75.72 99.00 10721 105.83 82.82 77.92 9724 111.01 103.80 76.03 82.58 99.40 109.39 105.61 68.12 84 37 9729 109.56 10954 69.44 8428 92.78 115,05 102.03 7174 90.05 99.17 11750 94.78 67.07 B322 98.29 10920 107.43 82.35 1975 1976 1977 1978 1979 72.56 96 86 103.81 9025 99.71 8010 100.64 100.96 8398 9823 83.78 101.06 100.57 8882 100.11 84.72 10193 99 05 92.71 102.07 90.10 101.16 98.76 97.41 99.73 92.40 101.77 9929 97.66 101.73 92.49 10420 100.18 97.19 10271 85 71 10329 9775 10332 10736 84.67 105 45 9623 103.86 10860 B8.57 101.89 9374 100.58 104.47 90.07 101.19 94.23 94.71 103.66 88 70 104.66 33.82 96.11 107.78 66.16 102.01 S8.20 95.02 103.01 1980 1981 1982 1933 1984 [ 110.87 13297 117.28 14427 166.39 115.34 128.40 114 50 146.80 15725 104.69 133.19 110.84 151.88 157.44 102.97 134.43 116.31 157.71 157.60 107.69 13173 116.35 164.10 156.55 114,55 132.28 10970 166.39 153.12 11953 129.13 109 38 16536 151.08 12350 129.63 109.65 162.42 164 42 12651 11827 122.43 167.16 166.11 130.22 11980 132 66 167.65 164.82 135 65 122.92 138.10 165.23 16627 133.48 123.79 139.37 164,35 154,48 11878 128.04 11971 160.41 150.46 17161 20819 264.51 250.48 28541 180.88 219.37 280.93 258.13 294.01 179.42 232.33 292.47 265.74 292.71 180.62 237.98 289.32 262,61 30225 184.90 238.46 289.12 256.12 31393 188.69 245.30 301.38 27068 323 73 192.54 240,18 310.09 269.05 331.93 188.31 245.00 329.36 263.73 346.61 184.06 23827 318.66 267.97 347.33 186 IS 237.36 260.16 277.40 347,40 197.45 245.09 245.01 271.02 34022 20726 248.61 240.96 276.51 34857 166,64 236.35 285.83 265 79 222.B4 339.97 330.45 338.47 338.18 35025 360.39 360 03 33075 31541 307.12 31529 32875 33459 1965 1966 1967 1968 1969 1985 1936 1987 1988 1989 19O0 . . .. „ .', NSA Not seasonal adjusted C-32 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued YEAR Jan, May Apr. Mar Feb June July Annual Dec. Nov. Oct. Sept Aug 2C), Contracts and orders (or plant and equipment in 1982 dollars (oil. $]I 1943 1949 734 590 8 45 6 40 8 03 634 688 5 47 766 S64 8 81 622 794 570 7.41 725 681 735 720 743 715 6.72 93.47 75.39 1950 1951 1952 1953 1954 7 34 1355 977 11.07 838 7,27 1384 9 92 11.30 8.50 7.95 12 47 10.06 10 25 7.25 791 1254 9 97 11 16 7.40 9.73 17.71 9.30 10.66 7.62 9.39 11.65 10.54 821 7.82 1125 11.11 10.78 1021 8.17 1387 10.70 9.72 847 821 12.86 9.19 13.42 9.84 878 11.40 1020 9.79 10.55 9.31 11.35 10.22 9.27 897 859 12.06 11.08 11.19 8.11 9.13 122.38 14426 12373 118.80 99.16 1955 1956 1957 1953 1959 945 1190 11.98 8.70 958 1024 1155 11.54 8 39 986 11.83 11,50 11.46 8.35 11.60 11.09 11,60 10.17 8,41 10.39 10.51 1223 10.64 8.49 10.66 11.12 12.35 10.09 8.96 10.86 11.01 11.79 9.82 8.60 11.05 11.58 11.59 10,02 9.88 9.B1 12.19 11.10 8.94 9.86 11.13 11.54 11.04 920 9.54 10.75 12.43 12.44 9.19 9.31 10.10 12.29 11,69 875 9.02 10.67 13528 140.98 121.80 107.51 126.45 1960 1961 1962 1963 1964 10 00 10.82 1108 11,56 14 28 1023 10.50 12.10 11.93 12.90 994 9,90 11.27 11.81 13 40 10.79 1006 11.77 12.13 1352 1080 9.93 1128 13.40 14.54 1044 10.49 11.07 12.16 1494 10.52 10.67 1120 12.02 14.03 10.50 1125 1124 12.35 14.19 10.63 10.50 11.13 12.72 14.39 10.32 1075 11.37 12.98 14.48 9.90 11.46 12.22 13.81 15.50 10.76 10.51 12.60 13.92 1572 124.83 126.84 138,33 150,79 171.89 1965 1966 1967 1968 1969 14.63 1721 14 97 21,12 23,36 14.85 1851 1609 1968 23 05 15.65 18.02 16.46 23 73 20 23 1577 18.71 16.04 18.98 23.45 15.55 18.33 16.52 16.76 21.73 15.14 17.87 17.17 16.84 20.37 15.69 19.12 16.90 20.48 20.75 15.08 17.90 17.49 21.42 21.06 16.40 19.62 17.05 18.03 23.15 16.36 17.62 1730 22.44 20.62 16.05 17.43 1727 18.40 19.94 17.12 17.34 17.62 20.17 19.60 188,34 217.68 200.88 238.05 257.56 1970 1971 1972 1973 1974 22.56 18,39 18.25 23.17 27.12 20.69 19.92 1880 24 69 27.72 1625 1963 20 22 2452 28.12 17.61 1928 19.81 25.17 26 80 17.38 17.96 21.91 25.69 2760 16.90 20.64 18.68 25.52 25.17 18.12 16.44 21.80 26.38 29.94 17.47 19.40 2075 27.16 2676 17.16 1975 23.18 2575 26.07 15.30 17.48 22.13 28.68 24.52 17.40 1882 22.61 28.40 2129 18.98 19.09 23.20 27.02 2372 217.82 226.80 251.34 312.35 314.83 1975 1976 1977 1978 1979 20.92 21.03 22.45 2576 3124 1929 20.30 22 60 2957 33.11 17.67 21.65 21.63 26 69 35.34 21.13 21.24 23 63 26,25 32.84 21.07 1876 2574 2933 2920 20.79 22.36 25.57 26.93 30.45 19.95 24.54 22.45 28.77 31.03 22.39 21.79 25.11 30.03 29.42 18.43 23.57 27.34 30.91 3020 18.33 24.04 23.85 35.74 31.11 17.89 21.81 23.95 30.07 30.41 16.97 22.80 27.25 26.9C 30.28 234.83 263,89 291.57 347.95 374,68 1980 1931 1982 1983 1984 3174 29 93 2663 21.E3 2814 28 40 2624 23 03 21.06 2827 28 72 2857 25.60 2171 28.79 27.90 30.02 24,30 23.28 27,77 24.05 2726 21.59 24.13 31.52 25.90 27.77 21.43 24.51 29.40 27.48 27.56 22.37 22.92 30.46 27.18 2661 2125 24.63 28.94 27.15 25.50 22.16 26,22 28.48 28.46 26.34 22.76 27.39 29.63 26.56 24.89 21.36 25.33 29.97 28.19 23.39 22.66 24.63 28.18 33173 324.08 28024 287.69 349.55 1985 1986 1937 1933 1989 28 62 30 90 32.93 4077 46 84 34 35 34 43 33.72 41.59 42.97 32.39 3171 32 98 33,18 44,52 28.92 30.50 34.77 40.47 46.09 44.18 3373 3178 35.94 40.87 46.39 4717 381.34 383.08 432.69 496.48 550.39 47,91 3176 31.13 36.08 46.29 44.47 41 5fi 33.95 34.37 39.45 44.87 51.59 43.49 31.06 30.78 38.88 4222 47.49 47 4* 30.56 32.75 37.03 41.64 46.15 46.48 31.78 32.06 3728 41.11 4625 43 4ft 33.88 32.01 37.66 40.41 43.67 1990 30.34 30.66 35.97 38.06 43.96 44*1 47.36 42.88 47.00 543.45 84.8 1362 89.4 135.6 862 141.9 82.8 1467 98.4 111.6 153,6 103.9 103.4 1032 116.3 29. Index of new private housing units authorized by local building permits (1967*100) 1943 1949 1094 80.4 100.4 819 1950 1951 1952 1953 1954 157.4 146.3 99.6 1050 101.9 1592 114.9 115,3 110.7 100,4 159.1 104.5 105.6 111.6 105 8 161.9 96.9 103.5 106.3 106.9 161.3 99.3 1012 106.4 108.8 160.7 96.9 101.6 103.5 116.9 182.8 92.9 107.9 100.0 119.9 1582 94.8 107.7 98.4 118.9 1338 1222 115.5 94.6 121.9 126.2 93.2 116.8 99.6 126.2 123.6 90.9 1172 100.1 135.9 158.6 94.2 108.3 102.4 132.1 1955 1956 1957 1953 1959 1364 1098 66.5 91.5 114.7 151.0 106.8 909 78.7 119.6 129.3 1098 91.7 872 1250 132.9 109.5 867 91.9 119,4 133.6 101 9 90.5 962 117.4 1262 100.1 92.5 1027 115.5 126.7 994 862 111.9 112.6 1222 97.0 92.1 1117 113.7 120.4 945 92.4 114.5 109.5 117.9 931 91.1 118.2 105.3 107.5 93 7 88.5 134.1 100.7 107.0 92.8 89.3 115.8 1082 125.9 1007 89.9 104.5 113.5 1960 1961 1962 1963 1964 102.8 91.2 105.5 :i3.o 117.4 102.4 904 112.3 1097 130.6 898 94.0 106.7 113.9 1138 95.6 942 1162 116,6 114.5 99.0 96.6 107.4 1222 117.6 90.1 100.7 108.5 121.8 115.8 93.9 101.9 111.9 119.6 118.1 93.5 109.0 112.9 118.6 118.3 92.6 1032 1150 128.0 114.5 91.4 105.6 111.1 128.1 111.5 92.1 108.3 1162 122.9 113.5 893 1092 116.2 128.8 105.3 94.4 100.4 111.7 120.3 116.3 1965 1966 1967 1968 1969 1145 1200 87.2 103 3 127.9 107.3 1049 795 1176 131.0 1096 111.8 83.7 120 0 126 0 1052 103,7 90.8 1128 126.3 109.3 977 94.3 1137 116.5 112.4 86.6 102.5 1140 118.3 112.0 844 1032 1179 112.0 113.1 79.4 1078 1189 115.4 111,1 702 112.1 123 4 110.7 115.8 669 1122 124 6 106.6 118.3 66.6 113.7 1259 104.4 119.1 672 115.3 121.8 101.3 1123 88.3 1002 1182 116.4 1970 1971 1972 1973 1974 93.1 144 0 192.9 195.7 114.7 930 1392 1869 191.9 1172 992 1542 181.4 177.7 124.1 107.3 1530 184.3 1645 108.1 116.5 172.9 178.1 166.4 98.1 115.8 166.8 188.1 1767 93.6 116.1 181 4 1892 156.8 86,4 1222 1757 195.1 155.9 79.0 125.0 175 0 206.2 146.9 72.4 1372 1776 202.9 1217 71.0 131.7 182.2 19Z6 120.8 SIS 154.9 186.9 208.5 111.0 74.9 118.1 167.4 1922 1572 92.3 1975 1976 1977 1978 1979 62.6 103.0 124,6 1406 1180 628 102.6 134.5 1402 120.5 61.2 100.3 143.1 1453 1389 74.6 97.6 143.1 157.4 129.0 78.8 102.9 1438 1427 136.0 81.5 102.4 151.0 1602 132.5 875 107.3 145.4 144 3 123.9 857 112.9 153.4 1366 128.5 91.7 127.6 144.3 141 4 132.3 94.4 122.8 151.5 1439 119.6 956 132.0 1527 1450 103.1 94.0 1302 1512 1469 101.3 SOS 111.8 144.9 145.4 123.6 1034 98.6 64 1 1152 1448 969 969 653 118.8 158.5 798 95.6 720 1192 137.6 65.3 96.1 71 7 126.5 141.6 696 94.8 770 134.8 138.8 903 78.8 738 142.9 1447 101 7 755 84.3 12&0 1104 7l!8 74 8 138.4 122.0 1199 63^4 842 128.0 121.5 1103 59.1 92.8 138* 118.8 1117 60.4 993 134.7 131.0 1009 64.3 109.1 131.4 1297 96.7 80.0 807 131.1 134.8 1985 1986 1937 1983 1989 132.4 147.3 134.8 992 116 9 132.5 1409 1347 1147 110.3 1377 141.9 135.9 121.6 96.8 1327 1432 127.7 114.0 109.7 136.3 143.3 119.6 1152 110.1 136.8 142.7 121.4 118.4 105.4 135.3 1413 120.9 114.8 102.3 1442 137.6 120.5 116.4 106.4 152.8 134.4 120.7 114.5 104.8 139.0 133.6 115.4 120.9 103.9 134.9 131.1 116.2 120.3 1072 143.1 151.8 107.3 119.7 113.4 138.1 1412 122.9 1158 1077 1990 1402 107.1 96.1 89.6 66.8 89.6 86.6 84.1 78.9 73.8 73.0 68.1 89.5 1980 1931 1932 1933 1984 . , 104.0 86.8 116.5 967 1067 1042 103.1 106.4 1022 1102 94.9 112.3 October 1991 SURVEY OF CURRENT BUSINESS C-33 Historical Data for Selected Series—Continued Jan. YEAR May Apr. Mar. Feb. June Sept. Aug. July Annual Dec. Nov. Oct. 32. Vendor performance, slower deliveries diffusion index (percent) 1948 1949 36.3 16.6 37.1 13.1 32.7 12.4 41.6 162 40.4 15.5 38.4 15.0 36.8 22.4 312 33.0 28.3 39.9 28.7 46.1 28.0 515 17.7 522 33.1 27.8 1950 1951 1952 1953 1954 56.3 88.7 31.3 41.5 23.6 66.0 93.3 24.9 41.8 26.9 72.0 85.1 18.8 41.8 28.0 68.8 657 19.4 38.6 30.3 82.9 45.0 22.4 35.1 34.3 76.5 35.7 33.0 33.3 35.8 89.4 32.2 47.4 28.5 38.1 81.7 32.0 41.2 26.5 36.4 73.7 46.4 42.7 232 43.6 70.3 472 43.3 20.7 49.5 79.1 34.9 45.0 202 51.9 87.5 33.6 43.5 ' 21.8 54.5 75.5 53.4 34.4 31.1 1955 1956 1957 1958 1959 60.6 53.5 36.3 30.3 61.8 67.2 51.3 31.2 31.0 67.3 68.5 51.0 26.3 34.0 66.3 71.9 51.0 28.9 35.5 64.8 68.7 38.6 30.0 38.5 63.0 657 41.0 30.0 392 63.7 67.0 53.9 36.8 43.0 59.1 64.3 46.8 30.8 447 ' 57.4 66.3 42.8 28.8 51.1 57.5 66.5 40.1 32.6 52.4 58.5 64.9 44.6 27.8 55.8 54.6 61.4 39.5 27.3 56.4 537 66.1 462 30.6 42.7 60.6 1960 1961 1962 1963 1964 46.2 39.2 57.1 50.4 55.3 31.7 41.1 56.2 51.0 51.9 28.8 42.1 57.0 54.9 60.3 28.9 47.5 47.4 582 57.7 32.3 47.9 452 56.4 61.4 34.8 49.3 43.3 56.3 57.6 35.8 49.4 45,1 43.6 61.8 38.0 50,6 43.7 48.5 662 37.3 50.7 45.1 49.7 71.9 362 52.4 46.7 47.4 712 37.6 51.1 48.7 48.7 70.3 40.4 55.8 50.1 47.6 67.8 357 48.1 48.8 51.1 6^8 1965 1966 1967 1968 68.5 74 9 48.2 50.6 63.6 68.1 801 49.9 53.9 60.1 659 86 4 38.0 54.0 60.5 69.4 79 3 36.9 49.0 63.9 689 74 6 34.4 49.4 .64.9 69.3 71 6 36.5 49.9 67.0 65.1 731 40.9 55.9 657 654 74 3 44.8 47.8 70.3 61.2 72.4 46.5 48.4 68.9 59.1 687 51.1 53.3 66.8 65.1 62.6 51.4 61.0 64.1 73.5 57.9 49.9 58.3 66.8 66.6 73.0 44.0 52.6 652 57.9 39.8 55.2 83.7 91.8 57.7 44.2 52.6 852 88.8 49.3 45.0 57.1 875 88.9 487 48.9 55.0 86.7 82.1 672 49.4 56.1 49.8 47.4 61.7 852 692 46.1 49.7 62.9 887 66.3 46.5 48.9 65.5 39.0 50.9 73.0 901 887 51.8 45.3 37.8 50.9 74.5 968 34.0 37.5 53.3 74.5 66.1 47.9 57.7 85.6 73.1 807 928 232 50.3 48.0 62.7 88.0 65.8 19.5 54.0 55.3 55.6 66.4 15.9 56.1 65.1 63.4 64.0 17.3 56.7 49.6 58.9 66.7 217 57.3 54.6 57.1 75.6 22.7 58.3 55.4 57.4 637 24.9 58.6 53.3 61.1 61.4 287 54.0 58.3 59.4 57.4 35.1 552 53.5 60.6 52.9 43.8 52.6 56.7 60.0 50.7 44.8 49.0 53.6 647 46.9 46.8 472 56.3 64.5 46.8 412 53.3 57.1 63.5 422 302 54.4 557 60.5 57.9 1980 1981 1982 1983 1984 42.1 49.7 40 1 46.7 64.4 46.0 48.5 40 8 49.9 61.5 39.1 48.7 364 50.8 65.5 36.9 512 382 52.7 64.6 29.8 50.2 421 51.9 62.5 32.4 47.9 452 56.8 552 36.3 44.9 458 58.9 59.1 40.1 49.6 453 412 45.9 459 607 52.8 46.5 37.7 46 5 62.8 49.3 46.8 40.5 469 67i 48.1 50.1 412 486 62.1 48.8 40.6 46.3 43.5 56.8 57.3 1985 1986 '. 1987 1988 1989 50.4 50.1 51.5 62.0 53.7 48.6 49.8 51.2 61.2 53.4 46.7 50.5 51.9 57.3 51.6 46.1 507 52.8 58.6 522 48.0 502 54.0 56.9 49.0 47.1 49.9 56.8 65.6 46.6 45.7 49.9 58.9 58.4 46.4 46.6 50.8 60.3 57.4 44.4 49.5 49.6 61.5 442 50.0 51.3 62.2 54.8 43.6 48.5 52.0 64.9 52.1 43.1 49.3 52.8 627 53.0 432 48.0 50.6 57.4 57.7 47.6 1990 472 43.3 45.8 47.1 48.0 50.1 47.3 50.9 49.7 48.7 49.9 46.8 47.9 1969 .Z....I.., 1970 1971 ] 1972 1973 ." 1974 1975 1976 1977 1978 1979 ,."* 866 602 552 552 377 41. Employees on nonagricultural payrolls (thous.) 1948 1949 44,680 44,631 44 492 44,399 44 615 44,169 44 334 44iO57 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 43,472 47,227 48,229 50,043 49,340 43,175 47,519 48,491 50,271 49,270 43,816 47.700 48,450 50,360 49,081 44,238 47,849 48.476 50,367 48,984 44,589 47.803 48,478 50,343 48,857 44,953 47.915 48,130 50,386 48,810 49,363 51.880 52,608 52 002 52,410 49,523 52,096 53,000 51,448 52.558 49.867 52,141 53,052 51,131 52,863 50,106 52,302 53.029 50787 53,190 50,414 52,387 52,999 50760 53,382 1960 1961 1962 1963 1964 54,184 53 524 54>03 55.927 57.281 54,406 53,373 54',996 56,039 57,621 54,348 53462 55,109 56.157 57,686 54,561 53 485 55i384 56,398 57,846 1965 1966 1967 1955 1969 59.419 62415 66240 66 656 69^97 59710 62766 65^224 67026 69.575 59,921 63,129 65,305 67156 69,803 1970 1971 1972 1973 1974 71,059 70,752 72,357 75,521 78.020 71,201 70 689 72,542 75,923 78.181 1975 1976 1977 1978 1979 77,153 78 317 80527 84,478 88,711 1980 1981 1982 1983 1984 1985 1985 1987 .' 1988 1989 1990 Z. ' 45052 43,490 45167 43,708 • 45084 42.823 45083 43.148 45 032 43,497 44 866 43,754 45,361 47,923 47,992 50,385 48,689 46,035 47,806 48,687 50272 48,644 46.304 47,743 49,076 50216 48,752 46,530 47,833 49.436 50,114 48,828 46,654 48.026 49,710 49,824 49,102 46,756 48,119 49,933 49,627 49,242 45.197 47,819 48,793 50.202 48,990 50,705 52,454 52,961 50 822 53,603 50,823 51764 52,970 50.915 53,683 50,905 52,396 52,918 51,118 53230 51,085 52,446 52.825 51.359 53,265 51,308 52.667 52,673 51379 53,203 51,491 52,722 52,458 51,831 53,503 51,721 52,865 52,281 51968 54,033 50,641 52,369 52,853 51,324 53,268 54,366 53664 55!514 56,534 57,974 54,292 53922 SSi563 56,571 58,128 54,230 54 052 55!653 56,705 58,309 54,198 54 232 55,796 56,832 58,510 54,069 54 303 55.860 56,971 58,777 53.982 54 375 55^919 57,148 58.658 53.843 54 636 5Si943 57,125 59.080 53.571 54 739 55S15 57,251 59,320 54,189 53999 5^549 56,653 58.283 60,080 63 318 65J373 67 422 69,980 60,389 63595 65J478 67519 7O',197 60,590 63989 65^42 67 779 70^78 60,868 64166 65316 67.979 70J629 61,072 64,306 65,933 68189 70742 61,333 64,367 66|o74 68 333 7Q!BOO 61,538 64,614 66^091 68 569 70^57 61,859 64,839 66^570 68837 701921 62,209 65042 66767 69151 7U19 60,765 63,901 65,803 67897 70i384 71,363 70 766 72,850 76,168 78,184 71,283 70 969 73^079 76,308 78,239 70,998 71 129 73!346 76,473 78,381 70,888 71,136 73[639 76,743 78.443 70,927 71169 73*.576 76,713 78,492 70750 71 168 73.908 77.009 78,511 70,815 71 499 74,107 77,170 78,542 70,383 71 485 74,537 77.506 78,599 70,264 71 723 74^904 77,867 78,234 70.661 71 977 75,164 77.933 77,531 70,880 712H 73.675 76,790 78265 76.743 78614 80783 84,800 88,955 76,429 78,828 81228 85,'339 89,406 76,333 79,142 81 615 86,064 89.356 76,470 79,188 81984 86,396 89,671 76,400 79264 82392 86J833 89,985 76,640 79,469 82743 87^60 90,088 77,034 79,591 82954 87J319 90,148 77216 79,857 83460 87',470 90,166 77.479 79,847 83 659 87788 90,356 77.582 80,122 84012 88233 90,449 77,878 80,310 84 260 88J534 90.595 76,945 79382 82471 86.697 89.823 9G,7£4 90,927 90,391 88,807 92,572 90889 90i987 90,391 88,715 93.068 90970 91.085 90,264 88.919 93,355 90 747 91J75 90,028 89244 93.722 90269 91,151 90,006 89,558 94,039 89931 9U28 89,769 89,970 94,432 89670 9M67 89,435 90,404 94.760 89 933 91>15 89272 90,065 94,988 90 058 91,354 89,122 91,214 95.302 90 350 91,259 88,836 91,457 95,594 90818 90750 88,644 92,131 96,078 90 406 91,156 89.566 90200 94,496 96391 98>71 100,765 103.897 107,395 96503 98.892 101,004 104,393 107.700 96 840 98,957 101,228 104.646 107,842 97017 99,143 101,582 104,886 107.998 97283 99263 101789 105,078 108,129 97413 99J52 101,954 105,472 108,285 97608 99^54 102,285 105.700 108,364 97814 99',615 102.525 105,887 108,488 98 021 99,943 102,699 106,153 108.681 98 240 1OO',174 103250 106.450 108,800 90583 91.020 88,671 91,771 95.936 93435 100,348 103.473 108,766 109,064 98 634 100396 103,814 107,081 109,189 97519 99,525 102200 105,535 108,329 109.416 109.792 109,933 109,934 110,304 110,435 110269 110,160 110,113 109.982 109.761 109.621 109,971 44 615 43J806 44 863 43^582 45059 43>15 C-34 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued YEAR Jon Apr. Mar. Fcb May June Aug. July Nov. Oct. Sept. Annual Dec. 47. Index of industrial production (1987'-100) 1343 1&49 23 5 23 2 229 23 3 22,5 246 285 284 320 293 252 28.4 28.1 322 29.5 25.9 282 27.8 32.0 29.6 235 23 3 224 23 7 22.1 24.0 22.0 23.9 22.2 237 22.4 239 21.6 23.6 222 234 22.6 23.6 22.3 267 27.8 27.4 32.4 29.6 27.6 27.5 29.2 322 296 27.4 27,7 30.2 316 29.6 27.6 277 30.5 31.3 30 0 27.5 27.9 31.1 30.6 30.5 28.0 28.1 31.3 298 30.9 258 28.0 29.1 31.6 29.9 240 22.0 1950 1951 1952 1953 1954 22.9 ».i 23 4 31.4 296 230 283 285 31.6 297 238 23 4 286 318 295 1955 1956 1957 1958 1959 316 35.1 36.0 310 36.0 32.0 348 36.3 32.3 36 7 327 348 363 31.9 37.2 33.1 351 35.8 314 380 33.7 34.8 35.7 31.7 38.6 33.7 34.5 35.8 32.6 38.6 34.0 33.4 36.0 33.0 37.7 33.9 34,8 36.0 337 36.4 34.1 35.6 357 34.0 36.4 347 35.9 35.1 34.4 36.1 348 356 34.3 35.4 363 34.9 36.1 33.7 35.5 38.6 33.7 35.1 35.6 33.3 37.3 1360 1961 1962 1963 19W 396 36.3 40.4 425 455 392 362 41.1 429 45.8 389 364 41.3 43 2 458 386 37.2 41.4 436 465 38.5 377 41.3 44.1 46.8 38.1 38.3 412 44.3 46.9 37.9 38.7 41.6 44.1 472 37.9 39.1 41.7 442 47.5 37.5 39.0 41.9 44.6 47.7 37.4 39.8 42.0 44.9 47.0 36.9 40.4 422 45.1 48.5 36.2 40.7 42.2 45.1 49.1 38.1 38.4 41.6 44.0 47.0 1&65 1966 1967 1563 . 1&69 43.6 54.4 57,6 59.4 62.6 49,9 54,7 57,0 59.6 630 50.6 555 566 53 8 635 50.8 555 57.2 599 63.2 512 56.1 567 606 63.0 51.6 56.3 56.7 60.8 63.6 52.1 56.6 56.5 607 63.9 52.3 56.7 57.6 60.9 64.1 52.4 57.2 57.5 61.1 64.1 52.9 57.6 58.0 612 64.1 532 572 58.8 62.0 63.5 53.8 57.3 59.5 62.2 63.3 517 56.3 57.5 607 635 1970 1971 1972 1973 1974 62.1 61.5 656 71,8 73.0 62.1 61.3 66 0 72.8 72.7 62.0 613 66.5 72.8 73.0 61.9 61.6 67.6 730 72.9 61.8 61.9 67.5 73.4 73.8 61.6 $2.2 67,7 73.9 74.0 617 62.0 67.6 74.4 73.6 61.6 617 68.5 74.3 73.4 612 62.7 692 74.9 73.7 60.0 63.1 702 752 73.2 59.6 63.4 71.1 752 71.1 61.0 64.1 717 740 68.1 61.4 622 68.3 73.6 72.7 1975 . 1976 1977 1373 1979 66.3 69 9 75 5 788 85.1 65.3 71.1 759 79.0 858 64.1 70,9 766 60.0 861 64.7 71.2 77.7 82.0 85.2 64.5 72.0 78.3 823 86.2 65.3 72.1 78.9 83.1 86.1 657 72.5 78.9 83.3 85.6 66.9 72.9 79.0 83.6 85.3 67.6 73.1 794 84.1 85.5 67.9 73.4 79.4 84.5 86.0 68.6 74.6 79.5 852 857 69.1 752 79.1 85.4 85.6 66.3 72.4 782 82.6 85.7 1360 1981 1962 1983 1984 859 65.2 62.4 60,8 91,0 862 854 84,2 807 90S 862 85.7 83.7 81.3 91.9 84.5 850 832 82.3 92.4 82.5 85.6 82.7 83.2 93.0 81.5 86.1 62.4 837 93.5 812 87.1 82.0 85.3 93.9 82.4 869 81.6 86.5 94.0 83.5 86.5 81.0 87.9 93.9 84.0 85.8 80.3 68.6 93.2 855 84.8 800 63.8 93.3 85.9 84.1 79.3 892 92.8 84.1 857 81.9 84.9 92.8 i&as 1986 1987 1988 1989 931 96,1 96,5 1035 107.7 938 955 97.6 103.5 107.6 94.1 946 982 1039 107.7 94.5 94.8 98.3 1043 108.6 94.7 94.8 99.2 104.8 108.3 94.4 94.4 100.1 105.0 108.4 94.1 94.8 100.8 106.1 107.8 94.5 950 101.0 106.4 1082 95.0 95.1 100.9 106.2 1082 94.2 95.6 102.3 106.5 107.7 94.6 962 102.2 106.9 108.1 95.6 967 102.6 107.4 108.6 94.4 95.3 100.0 105.4 108.1 1990 107.5 108.5 108.9 108.8 109.4 110.1 110.4 110.5 110.6 109.9 108.3 107.2 1092 51. Personal income less transfer payments in 1982 dollars (AR, bil. $) 1948 1943 753 8 763,0 749.4 759.9 756.7 761.7 7588 7596 763.7 759.0 776.7 7512 776.4 744.5 782.6 750.8 784.2 761.1 788.4 747.3 783.8 755.3 774.2 759.1 770.7 756.0 1950 1951 1952 1553 1954 774.7 850.3 8901 938.1 9467 7708 850.5 903.2 943.6 945.2 7830 861.7 9050 9518 9393 7902 873.2 9032 952.1 934.2 802.3 877.9 912.4 956.2 935.8 800.3 883.0 915.6 958.2 938.7 813.4 881.6 9092 956.1 941.1 823.3 891.3 930.3 9522 949.1 831.3 889.2 936.4 954.4 954.6 8396 894.6 936.6 959.6 958.8 847.9 895.0 930.6 9572 963.4 8582 898.9 935.4 9502 967.6 811.3 878.9 917.3 952.5 948.3 1955 1956 1557 1958 1959 971.0 1,040.6 1.070,1 1,065 4 1,106.0 9728 1,045.8 1,077.2 1,062.5 1,1088 9785 1.047.5 1,078.4 1.066.0 1,115.0 987.9 1,055.5 1,076.4 1.0597 1.124.6 995.9 1,054.2 1,077.0 1.061.6 1,129.8 997.9 1,057.3 1.082.3 1,067.8 1,133.7 1.013.3 1,050.8 1,083.9 1.086.6 1,135.3 1,012.8 1,061.3 1,085.9 1.0842 1,122.8 1,020.9 1,066.0 1,081.5 1,090.0 1.120.9 1,035.1 1.0702 1,0767 1.106.6 1,137.7 1,040.4 1.0737 1,069.6 1,1082 1.148.5 1,004.4 1.058.0 1.078.0 1,079.2 1.1252 I960 1961 1962 1963 1964 1.154.0 1,1553 1.208.6 1.252.0 1.304.9 1.150.5 1.156.5 1,218.5 1.257.0 1.318.1 1,153.4 1,157.8 1,225.2 1.261.7 1,325.0 1.153.8 1.165.3 1.230.8 1,263.0 1.334.8 1,161.6 1,171.9 1,233.4 1,2697 1,340.1 1,161.6 1.1792 1.237.6 1,272.2 1,344.0 1.159.6 1,1802 1.242.3 1274.8 1.351.4 1.155.8 1,162.0 1245.0 1,280.9 1,362.6 1,153.2 1,1862 1241.3 1288.4 1.365.8 1.0267 1,073.4 1.077.2 1,091.7 1,119.3 1.157.4 1.197.9 1,245.3 1,293.6 1,371.4 1,150.9 1206.6 1249 9 1293.9 1,378.1 1,145.6 1213.4 1255.3 1,306.1 1,389.8 1,154.8 1,179.4 1,236.2 1,276.1 1,348.8 1965 196Q 1969 1,390 4 1,480.1 1,541.6 1.592.5 1.670.1 1,394,1 1.482.1 1,546.0 1.607.3 1,676.2 1.397.7 1,4882 1.549.3 1,6124 1.688.6 1.407.3 1.495.3 1,549,7 1.619.3 1.6897 1.417.7 1.502.2 1.556.1 1.627.6 1,700.7 1.4292 1,511.7 1,564.5 1,6367 1,707.1 1,436.5 1,516.9 1.571.0 1.642.1 1,7182 1,439.2 1.518.7 1,573.3 1.649.9 1,724.5 1,446.9 1,517.8 1,574.9 1,658.6 1,7307 1.463.1 1.526.4 1,572.9 1,660.8 1.736.1 1,471.3 1,530.1 1,5827 1,664.5 1.7362 1.479.7 1,5317 1,595.8 1,674.5 1.737.7 1,431.1 1,508.4 1,564.8 1,6372 1,709.6 1970 1971 1972 1973 1974 1.7350 1.747 7 1.804.6 1,931.8 1.969.3 1,7298 1,745.2 1,816.3 1.937.8 1.949.2 1,738.8 1,753.3 1.8242 1.933.1 1,928.1 1.743.5 1,756.9 1,8357 1,935.9 1,920.5 1741.2 1,762.4 1.840.9 1,952.0 1,925.1 1.738.1 1,7612 1,8242 1,958.3 1,9312 1,745.9 1,763.8 1,853.7 1,963.0 1,937.0 1.745.9 1.7662 1,869.9 1,969.0 1.930.1 1,749.8 1,769.8 1,879.4 1,975.3 1,9262 1,732.9 1.769.2 1,900.8 1,986.8 1.936,1 1.733.0 1,778.9 1.920.9 2,000.0 1.911.5 1,736.1 1,793.0 1.939.7 1,9917 1,902.6 1,739.2 1,764.0 1,859.3 1,961.6 1,930.6 1975 1976 1977 197B 1979 1.8818 1.940.9 2.027.6 2.1194 2.246.1 1.873.1 1.9536 2,029.2 2.131,5 2.257.5 1,8737 1.957.8 2.038.2 2.154.5 2.2637 1,877.4 1.968.9 2.042.3 2.176.1 2,249.1 1.880.1 1,975.8 2,053.4 2,183.5 2,248.6 1,8817 1,979.0 2,060.4 2,1927 2,251.0 1,883.2 1,984.8 2.074.3 2,197.1 2254.0 1,902.3 1.987.9 2.082.6 2202.B 2251.8 1,911.3 1,993.0 2.098.8 22172 2J247.4 1.921.2 1,995.0 2,108.1 2232.5 22532 1,921.5 2,015.3 2.1072 2,2372 2,257.3 1,923.1 2,025.5 2.117.1 2250.9 2255.3 1,894.4 1,981.5 2,069.9 2,191.3 2,252.9 iseo 2.258 9 2.266 5 2.2589 2.257.9 2.400.1 2.253.1 2,262.3 2.2659 2.254.9 2.425,0 2,245.3 2,264.7 2,271.4 2.262.7 2.436.5 2223.3 2,266.9 2,278.5 2.272.8 2.431.4 2,208.4 2.261.8 2,2812 2,284.9 2,429.2 2,210.6 2.272.1 2.266,0 2,295.0 2,445.0 2204.6 2,283.4 2255.5 2.300.6 2,460.4 22127 2296.3 22507 2289.8 2.462.5 2.213.0 2295.9 2244.9 2,308.5 2,480.6 2,239.4 2285.2 2,246.9 2,344.3 2.475.3 2254.1 2,276.8 2251.5 2,3602 2,487.7 2269.8 2268.3 22592 2,383.3 2.5172 2.232.8 2,275.0 2.260.9 2.3012 2,4542 1985 . 1986 1587 2.511.6 2.5772 2.6493 2,742,2 2.863.6 Z528.5 2.598.1 2,667.9 2.761.1 2.833.5 2.532.1 2.617.9 2.668.5 2,777.9 2.892.9 2.546.4 2.648.4 2,670.9 2.782.5 2,891.5 2.528.8 2.633.4 2.663.0 2,7907 2.876.0 2,536.1 2,627.4 2,661.1 2,802.5 2,879.7 2.529.6 2,624.0 2.677.6 2.820.6 2,890.7 2.533.8 2,629.9 2,688.4 2.817.9 2.887.5 2.537.4 2,630.3 2.688.0 2,821.4 2.885.4 2.553.9 2.635.7 2735.4 2.855.3 2.8867 2,5542 2,6452 2.722.8 2,828.4 2.889.8 2,588.3 2,663.7 2.772.6 2,8442 2.905.5 2.540.1 2,627.6 2,668.8 2,803.7 2,886.1 2.E3S7 2,897.0 2.905.9 2,9088 2,909.2 2,912.5 2,919.6 2,9066 2,896.1 2.865.5 2,871,0 2,8832 2,896,8 II™ 1967 1581 1582 1583 1584 isea 1989 1990 Afl Annual rate C-35 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Jan. YEAR Feb. Mar. May Apr. June July Aug. Sept Nov. Oct. Dec. Annual 57. Manufacturing and trade sales in 1982 dollars (mil. $) 1948 1949 1950 1951 1952 . 1953 1954 1955 1956 1957 1958 1959 . . . 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 "ZZ 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 ...! 1989 1990 . . '. 118,924 121,013 118,996 120,815 119,844 120,363 120,363 119,822 118,975 117,977 120,450 120,918 121,524 117,611 121,772 120,160 121,732 122,518 121.838 117.887 121,313 119.457 122,166 118,438 1,447,917 1,436,979 120,687 142,198 136.142 152,827 145,488 123,195 138,477 137,586 155,029 147,132 124,852 136,274 136,861 156,707 146,316 126,382 133,929 138,535 156,761 147,561 129,523 135,103 139.960 156,071 144,989 134,883 134,090 140207 154,172 146.839 144,990 131,396 137,249 156,365 146,406 147,142 134,722 140,302 153,131 145,466 138,022 134,668 145.160 151,778 146,194 135,225 135,591 149,816 151,020 146,761 131,064 135.258 149,291 147270 151,172 138,427 133,950 151,984 144,725 154,744 1,594,392 1,625,656 1,703.093 1,835,856 1,769,068 157,049 166,533 170,428 158,693 169,171 158,363 165,217 171,009 155,964 171,759 161,580 165,835 169,829 153,627 173,787 163,265 166,313 167,132 152,905 176,409 163,966 165,746 166,504 153,507 178,349 163,981 166.531 167,466 156,375 178,588 164,506 159,202 166,792 157,981 178,056 163,836 164,539 167,925 160,762 172.146 166,530 166,076 165,664 161,687 171,673 165,831 167,504 164,853 164,350 172.048 167231 168,298 162,647 166,886 172,431 167,504 169.945 158,962 162.305 177213 1,963,642 1,991,739 1,999211 1,905,042 2,091,630 180.310 170,170 186,103 191.644 204,401 179,488 170,652 186,279 194,672 204,416 178,579 173,582 188,810 194,784 203,875 179,019 172,634 188.964 196,599 207,237 176,665 175,237 188,743 195246 209,468 176,526 178,415 187,945 196,939 208,897 175,671 176,266 188,693 199,862 212,403 174,732 180,432 190,027 198.699 211,734 176,693 181,053 189,532 198,905 213,717 175,759 183,449 191,400 201,024 210,520 173,478 185,189 194.068 198.841 212.737 173,835 185,952 190,801 203.233 219,532 2,120,755 2,133,031 2.271,365 2.370.448 2,518.937 219,001 235,004 240,683 253.263 262,817 219,720 235,261 240,103 252,367 263,351 224,425 239,082 241,224 254,702 264,881 224,961 237,236 241,764 254,484 266,114 222,586 236,400 241,778 255,811 265,628 223,579 238,940 242,180 258.318 265,576 227,599 237,516 242231 261,421 266,838 226.309 239,017 245,094 257,298 268,281 226,300 238,581 244,586 258,463 269,770 228.433 239.223 242,674 262,424 272.363 231,626 238,267 249,367 264,602 268,828 232.436 239.320 254,505 262,358 268,492 2,706,975 2,853.847 2,926.189 3,095,516 3202,939 266,193 266,503 286,021 319,753 322,233 266,117 268,370 283,333 320,695 321,221 263,077 269,566 288,408 318,570 324,631 261,197 270,797 290,673 317,043 323,278 264.302 272,757 292.158 315,838 324,245 265.068 276,032 293,360 315,125 322,973 265,304 274,561 294,426 319,434 324,071 264,040 272,723 299,442 315,042 319.951 263,719 275,870 302,786 314,748 316.556 259,410 276,732 306,505 321,820 311,977 255,066 281,154 310,984 325,864 307,863 263,400 283,107 315,510 321.157 297,563 3,156,893 3,288,172 3,563.606 3.825,089 3.816,562 299,329 311,859 331,852 341,965 369,985 297.819 313,590 334,565 349,152 367,923 289,129 315,999 337,858 351,317 377,061 293,784 318,843 338,325 361,606 366,508 293,427 318,089 337,305 361,130 376,904 295,918 321,512 340,383 361,847 371,425 298,738 322,575 342,373 359,825 372,211 300,772 321,723 341,778 365,883 372,562 302,010 322,108 342,445 365,287 371,318 302264 318,804 344215 368,323 371263 300,902 324,127 346.521 369.757 369,810 304,130 333,797 350,556 371,137 368.721 3,578,222 3,843,026 4,088.186 4,327.229 4,455,691 374 948 371,021 345,082 347,982 387.583 371 095 368,785 352,372 346,283 387,461 362 046 366J40 353.461 351,439 387.669 355 654 367^956 352,899 352,345 390,002 349992 364^925 354,879 357,366 392,783 348.292 365!087 350,178 365,534 397269 354 293 365205 350,522 366,117 395,640 355814 364>03 347,423 366.994 394,596 362 185 361J83 347,233 370,574 395.240 369 390 357J49 342,851 374.010 396.476 368,911 354,608 343.964 377,792 399.780 368 715 350!559 343,007 385,300 401,156 4,341.335 4.357.921 4,183,871 4,361,736 4.725,655 399,978 413,598 424.537 454,183 477,574 400,835 410,794 439,060 456,684 471,738 403,446 409.980 438.802 462.986 470,492 404,373 418,891 439.865 462,114 478,211 407,591 416,004 442,315 463,478 476,165 402,722 419,559 444,483 467,777 475,169 402,576 418,320 447,425 465,199 470,824 409,798 421,178 449,510 467,487 485,603 409,914 433,670 453,463 465,927 481,355 406,936 424,357 453.686 472.170 477,401 411,322 425,639 450,984 472,634 479204 410,011 434,296 453,524 476,251 478,580 4,869,502 5,046,286 5.337,654 5,586,890 5,722,316 474^14 479,960 482,921 478,968 483,185 485,983 482,600 488,655 479,460 478.691 471,024 461.198 5,746,859 62a Index of labor cost per unit of output, manufacturing (1987=100) 1948 1949 37.0 38.3 36.5 38.7 37.2 38.1 372 38.3 36.8 382 36.9 382 37.2 38.0 37.8 37.7 382 37.4 38.0 37.4 38,4 36.6 382 37.1 37.5 37.8 1950 1951 1952 1953 1954 37.2 38.3 41.8 42.7 44.6 37.3 38.9 41.9 42.6 44.4 36.8 39.5 42.1 43.0 44.5 36.7 402 422 42.9 44.5 36.6 40.4 42.6 42.9 442 36.4 40.7 42.7 43.0 44.0 36.0 41.3 42.1 43.0 43.8 36.6 41.6 42.6 42.9 43.6 37.5 41.4 42.7 43.3 43.9 38.4 41.7 42.1 43.9 442 382 42.1 42.5 44.6 43.6 37.0 40.7 42.3 43.1 44.1 1955 1956 1957 1958 1959 42.9 43.2 45.3 47.9 46.4 43.1 43.3 45.1 48.0 46.2 42.8 43.8 45.2 48.5 45.9 42.5 43.7 45.6 48.6 45.6 42.5 44.0 45.9 47.9 45.5 42.4 44.4 45.5 47.0 45.8 42.5 45.9 45.5 472 46.6 35.9 41.8 42.3 42.7 44.0 42.9 45.0 45.8 46.9 47.3 42.9 45.0 45.6 47.1 47.5 42.7 452 46.1 46.5 47.9 43.5 45.3 472 46.3 47.8 42.9 45.5 47.4 46.5 462 42.8 44.5 45.9 47.4 46.6 1960 1961 1962 1963 1964 45.8 48.3 46.8 46.8 45.8 46.4 48.6 46.6 46.5 46.1 46.9 48.3 46.7 46.4 46.3 47.1 47.8 47.1 45.8 45.9 47.3 47.7 472 45.6 46.1 47.6 47.2 47.6 45.7 46.0 47.4 46.9 47.1 46.2 46.0 47.3 46.8 47.0 45.0 46.1 47.5 46.6 46.9 46.1 46.4 47.7 46.4 47.0 45.9 462 482 46.5 46.9 46.0 45.8 482 462 46.9 46.3 45.6 47.3 47.3 47.0 46.1 46.0 1965 1966 1967 1968 1969 45.2 45.0 46.7 47.7 49.6 45.2 45.6 46.8 48.1 49.5 45.1 45.5 47.1 48.2 49.7 44.8 45.8 46.8 48.6 50.0 44.7 45.6 47.1 48.5 50.6 44.8 45.8 47.3 48.8 50.6 44.4 45.7 47.7 49.0 50.8 44.6 462 47.6 49.0 51.2 44.6 46.3 47.4 49.3 51.4 44.8 462 47.0 49.7 51.5 45.1 46.6 47.1 49.4 51.9 45.0 46.5 47.1 49.7 52.4 44.9 45.9 47.1 48.8 50.8 1970 . 1971 1972 1973 1974 53.3 53.9 53.0 54.5 59.2 53.1 54.1 53.7 54.9 59.6 53.7 54.2 53.9 55.1 59.7 53.5 54.1 53.4 55.6 60.3 53.4 54.2 53.9 55.6 60.5 53.6 54.1 54.1 55.5 60.8 53.6 54.0 53.8 55.8 61.7 53.8 54.7 53.9 55.8 62.0 53.7 53.6 53.9 56.0 62.4 538 53.3 53.8 56.4 632 53.8 53.3 53.9 56.8 64.3 53.7 53.8 54.0 58.3 66.4 53.6 53.9 53.8 55.9 61.7 1975 1976 1977 1978 1979 67.4 70.4 71.5 76.8 81.6 67.8 69.6 72.5 77.9 81.9 69.3 70.5 72.5 78.6 82.3 69.0 70.8 72.6 77.4 83.5 69.4 70.7 72.9 77.7 83.2 68.9 71.0 73.4 77.9 84.0 68.7 71.0 74.1 78.5 69.1 71.7 74.6 79.1 86.2 69.3 71.5 75.4 79.5 852 69.0 71.4 742 78.7 85.6 862 69.4 71.7 75.7 792 87.0 69.7 71.7 76.3 80.5 87.9 68.9 71.0 73.8 78.5 84.6 1980 1981 1982 1983 1984 88.1 97.0 104.0 102.9 100.2 88.1 96.0 101.5 102.9 100.7 88.8 96.8 101.9 102.1 100.3 90.5 98.0 102.5 102.0 100.8 92.7 98.1 102.8 101.5 100.4 93.9 98.6 102.8 101.5 100.3 942 982 103.0 101.1 100.6 94.3 99.3 103.1 1002 100.9 942 99.8 103.3 99.6 1012 94.5 100.8 103.6 99.9 101.7 94.5 101.3 103.7 100.5 1022 95.5 102.1 104.7 101.2 103.1 $ZA 98.8 103.1 101.3 101.0 103.6 102.0 102.3 100.1 100.9 102.4 102.2 101.1 100.3 101.7 103.6 104.4 101.3 101.6 102.6 101.8 102.6 100.3 100.7 101.0 101.4 102.8 99.8 100.7 101.1 102.3 103.0 98.7 101.2 101.4 102.6 102.7 98.4 100.8 102.1 102.3 102.6 99.3 100.6 101.9 102.1 102.4 100.3 101.3 101.7 103.9 10Z7 99.2 102.6 102.7 102.5 101.8 99.8 101.5 101.2 103.1 101.0 99.9 100.9 101.6 102.6 102.5 100.0 101.0 101.7 101.7 101.5 101.8 1042 101.8 1985 1986 1987 ."" 1988 1989 Z ! 1990 ... 101.7 C-36 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Feb YEAH May Apr. June Aug. July Oct. Sept. Dec. 62D. Change in index of labor cost per unit of output, manufacturing (AR, percent) 1943 1949 1950 . 1951 , 1952 . 1953 , 1954 , 1955 , 1956 . 1957 , 1956 . 1959 . 1960 . 1961 . 1962 . 1963 . 1964 , 1965 . 1966 . 1967 . 1968 . 1969 . 1970 . 1971 . 1972 . 1973 . 1974 , 1975 . 1978 . 1977 . 1978 . 1979 . 1981 1982 1983 1934 1985 1986 1987 1963 1989 1990 , , . . . . . . . . t948 , 1949 . 1950 . 1951 . 1952 . 1953 . 1954 . 1955 . 1956 . 1957 . 1958 . 1959 . 1960 . 1961 . 1962 . 1963 , 1964 . 1965 , 1966 . 1967 .. 1968 . 1969 .. 1970 .. 1971 ., 1972 .. J973 .. 1974 .. 1975 .. 1976 .. 1977 .. 197B .. 1979 .. 1980 ., 1981 .. 1982 .. 1983 .. 1984 .. 1985 1SS6 1987 1983 1S89 .. .. .. .. .. 21,7 32 -15.1 133 256 -17.1 0 6.5 -12.2 -3.1 3.3 0 102 -6.1 21,2 -91 13.5 -91 -6.1 0 13,4 -22.9 33 3,2 -32 58 0 33 20 5 2.9 -28 -53 -15.0 202 59 11,9 2.7 -32 235 2.9 -2.8 0 -3,2 6.1 -64 9,3 2.9 2.8 -53 -12,4 19,2 -15,6 0 -5,3 -33 15.5 5.9 -8.1 26.1 -5.6 12,0 0 -7.8 338 -56 2.9 11.8 8.6 32.9 9.1 -15.6 13.0 8.5 12.1 12.0 209 -15.1 4.2 10.6 1.4 53 -2.0 -17.7 87 -5.1 134 -26 57 2.8 -52 25 -5.1 16.9 7.7 -5.0 -8.0 14.8 27 13.2 -7.5 13,7 -7,2 -fl.1 -27 11.2 2.5 2.9 49.0 82 -2.8 11.5 -10,0 -20,4 82 -55 5.5 14.0 -14.3 10.6 250 2.7 32.7 -5.0 -2,5 -15,4 5.4 52 5.3 -33.5 -1.0 7.1 47 -1.3 .4 52 -5.0 2.6 -5.1 -5.1 13.3 2.6 -2.5 2.6 -9.9 0 -7.5 0 8.1 -5.1 4.6 -4.0 1.8 -1.0 -1.3 5.5 -2.6 -97 102 2.4 8.3 10.9 -2.6 -2.5 0 -1.1 3.6 1.5 57 5.6 -9 9 25 16.7 -25 -122 -100 0 53 16.4 -2,4 -7.4 81 0 17.2 26 10.5 -2.4 -4.4 45 22.7 46 -16.5 11.7 202 17.1 92 8.4 26 -2.6 53 -2.6 -2 6 80 25 50 14.4 22 4,6 4,5 2,0 -7.6 52 7.2 -1.7 51 48 -42 -3.3 52 85 3.1 12.2 -3,4 0 12,1 9.6 18.6 54 7.0 1.6 3.1 58 6.7 6.3 87 25.6 33.4 12 36 -5.7 -4.7 -4.6 2.4 167 6.3 0 0 -12 3.9 -4.8 2.4 -4.6 36 1.3 14.3 1.2 10.2 3.6 -1.3 62 2.4 -7.0 3.6 11.2 2,4 -12.5 6.1 3.6 3.6 -3.4 -3,6 -4.6 8.6 -3.5 -1.2 11.5 -2.4 -2.3 -2.3 -2.3 12.8 87 -2.3 23.3 3.6 -12.4 16.5 12.5 -12.1 -162 -2.3 -12 1.2 3.6 7.1 -5.5 62 15.0 29.1 2.4 16,7 11.2 -19.0 -18.8 -112 -10,1 -172 1,2 -69 -1.6 45 -1.7 -1.5 .6 -4.0 25 3.4 .7 2.8 10.0 .2 -2.8 2.1 13.9 21.7 2.4 1.0 86 8.1 8.0 107 1.0 .2 6.3 .6 -1.7 23 -2'5 1.0 -4.6 4.5 3,3 3.2 1.5 96 .9 -.8 4.0 15.6 22.0 1.6 2.7 10.0 9-2 66 53 7.4 -.3 1.1 4.3 -2 -2.3 27 6.1 -58 0 12 1.2 2.7 0 -22 -6.5 6.7 19.3 0 4.6 167 2,3 0 6.0 0 2.6 -2.2 -21.6 0 4.4 8.0 1.8 52 62. Change in index of labor cost per unit of output, smoothed (AR. percent) t manufac output manufacturing, 96 52 7.5 6.0 3.1 3.6 1.4 .1 -1.8 -.6 -3.4 -52 -2.2 17.8 1.8 2.9 5.0 -2.6 17.1 32 2.5 2.2 -3.4 157 3.9 2.4 -.4 -5,7 5.1 -5.4 5.5 2.1 65 -4.6 27 ^».9 6.5 1.4 .3 -2.9 -2.6 1.5 107 -45 -5.0 15.3 6.2 -6.1 7.4 -1.4 5.1 8.1 13,0 22 .1 47 15.0 5.4 .5 3.6 1.3 -1.9 3.9 2.8 5.0 6.5 -42 27 4.3 6.0 5.3 10.0 1.6 1.1 5.1 14.8 8.3 1.4 7 67 14.1 5.9 1.4 1.9 67 12.3 4,3 1.0 3.0 55 2.8 .3 2.3 5.0 22 2.1 1.9 4.0 10.4 10.5 10.0 1.2 -.1 1.5 3.5 9.4 232 3.1 3.3 11.1 9.5 20.1 42 3.4 7.9 10.9 16.6 4.1 37 5.7 97 11.1 4.2 4.5 4.0 9,3 6.0 37 6.0 2.9 3.8 6.3 3.5 10.4 1.0 4.1 6.5 3.8 10.1 6.3 5.1 5.1 -2,3 .8 4.6 3.3 -1.9 4.8* 2.3 86 65 148 5.4 4.1 -3,3 1.4 134 66 3.4 -42 .9 1.6 24 -30 4.0 .8 -1.0 1.9 -4.0 3.0 0 -.3 77 -8,0 -3,0 ' 3.5 4.1 5.1 6.1 -4.0 3.8 3.0 6.1 4.8 .3 -.9 1.6 -57 2,8 0 .8 -1.4 -.6 1.4 12 -6.8 0 .1 1.1 -5.1 4.3 27 6.0 4.1 16.6 6.6 2.6 -42 11.1 2.8 -6.1 .6 3.8 10.4 16.8 5.1 2.0 -42 .4 -.2 .6 -6,5 17 .1 1.6 -5.0 .9 -.3 0 -4.5 .5 1.3 2.8 .6 .8 8.4 14.5 5.4 3.1 6.6 6.0 9.4 7.3 -9.0 1.2 -6.9 4.8 2.7 -5.2 5.3 26 6.2 1.9 5.8 -2.2 92 7.3 32 -3.0 2.1 3.0 -68 2.5 -1.3 -47 47 3.8 46 12 i 13.5 9.9 4.0 -6.1 42 -2.7 -.1 .6 30 -50 .6 -1.5 4.1 0 6.1 12 7.5 6.1 1.3 8.0 2.4 -62 11.2 4.3 -4.1 57 -5.6 .2 1.1 0 3.9 127 3.5 37 6.1 1.1 9.8 .9 -5.0 9.4 .8 7.5 122 5.3 0 99 21.6 13.1 -.6 11.9 1.4 -5.0 66 -3.5 12.8 9.7 0 0 1.7 3.4 4.9 -4.4 11.7 3.5 -3.3 137 62 1.6 -2.9 1.9 -2.6 -7.0 2.3 8.9 23.0 -1.9 122 17 .1 -3.9 1.8 2.6 -22 11.9 2.2 367 47.1 2.3 -6.5 -22 89 16.5 -5.8 15.1 1.1 .3 -2.8 11.9 -4.0 -.7 3.5 1.0 -3.1 17 t Data are smoothed by an autoreg'essive-movng-average filter developed by Statutes Canada. AR Annual rate -4,9 7.6 4.8 -5.1 52 1.7 -16,9 19.0 -13.0 24 -13.2 2.4 9.9 -42 4,0 .7 11.8 -3.8 -2,4 4.9 5.5 13.9 -2.5 0 99 4.6 -22 4,5 -2.1 6.1 6.0 -12.1 166 2.4 0 -4.0 4.0 30 119 -4.4 -102 -2.6 10.6 5.0 4.8 -22 2.2 11.8 0 4.1 15.9 7.3 -12 106 2.5 27 5.4 52 77 0 -4.4 -2.2 -10,6 11.4 12.7 10,0 105 48 -8,9 -*7 -1.8 16.2 1,8 2.8 6.9 -4.9 5.4 -.4 -50 -2.5 2.6 8.1 52 52 52 -2.6 -5,1 8,0 -2,4 15.4 0 -11.7 -25,3 0 10.0 5.3 -2.6 -2,5 -2,5 -2.5 -5.1 2.6 -9,9 28 20.6 248 -188 -IT.2 -1.3 152 2.0 1.4 84 23.1 -77 82 -7.4 104 7.5 -11.7 10.8 -14.5 30.0 16.7 124 4.9 0 0 -5.1 -4.9 -7,4 -11.9 13,9 0 0 5.2 7.9 -11.9 107 7.4 -12.8 18.1 186 45 -3.6 14.6 3.3 1.4 5,8 58 -104 11.9 •21.2 6.2 -7.4 19.6 52 -25 26 -5.1 54 19.6 12.7 -3.3 82 17.7 0 11,3 60 -160 -26 5,6 89 -6.1 177 -6.1 -15.0 -10.0 7.5 5.9 -.8 4.5 62 7.3 -6.8 10.4 122 87 -1.5 38 5.1 9.9 -5.5 4.0 4.6 -4.9 132 2.0 2.6 1.5 -1.9 7.0 25 1.8 1.6 -.4 -1.1 1.8 -2.0 2,1 -2.4 1.5 -2.1 .4 1.8 3.9 -.8 4.2 6.4 2.5 3.4 -1.4 3.9 7.3 -27 3.8 2.3 47 4.5 .4 -3.1 .4 48 12.1 -.1 -1.7 .5 9.6 18.0 .2 3.3 7.6 -.1 4.2 86 3.4 82 .5 2.1 8.3 5,3 8.6 4.6 2 .9 5.1 12.6 10.4 3.3 5.1 5.9 9.4 11.5 57 1.5 -5.8 1.6 85 68 1.7 -4.9 2.6 5.6 7.4 1.7 -2.8 36 5.0 8.1 32 0 5.2 -.6 -7 2.5 -.6 -.5 3.3 2.3 1.9 -1.8 .9 2.6 .6 2.3 -3.4 17 .9 .2 -1.0 .9 1.0 -.3 3.2 .3 5.6 6.1 .8 -2.2 7 3.9 10.0 4.3 -5,4 -.8 .5 28 7.9 5.0 10.1 6.3 3.8 -3.0 1.6 17 .3 -2.4 2.5 8 C-37 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued Jan. YEAR Apr. Mar. Feb. May June Aug. July Dec. Nov. Oct. Sept. Annual 77. Ratio, manufacturing and trade inventories to sales in 1982 dollars (ratio) 1948 1949 1.44 1.51 1.45 1.52 1.45 1.52 1.45 1.52 1.47 1.55 1.47 1.51 1.48 1.55 1.48 1.52 1.48 1.50 1.48 1.55 1.49 1.51 1.47 1.51 1.47 1.52 1950 1951 1952 1953 1954 1.48 1.40 1.64 1.55 1.64 1.45 1.44 1.62 1.53 1.61 1.44 1.48 1.63 1.52 1.62 1.43 1.53 1.61 1.53 1.60 1.41 1.55 1.59 1.54 1.62 1.36 1.58 1.60 1.57 1.59 1.25 1.63 1.63 1.56 1.59 1.26 1.60 1.59 1.59 1.59 1.36 1.61 1.56 1.60 1.58 1.40 1.61 1.53 1.60 1.57 1.47 1.63 1.54 1.63 1.52 1.40 1.65 1.52 1.65 1.49 1.39 1.56 1.59 1.57 159 1955 1956 1957 1958 1959 1.47 1.45 1.49 1.58 1.48 1.46 1.48 1.49 1.60 1.46 1.44 1.47 1.50 1.62 1.45 1.42 1.48 1.52 1.62 1.45 1.43 1.50 1.53 1.61 1.44 1.44 1.50 1.52 1.58 1.45 1.44 1.57 1.53 1.56 1.46 1.46 1.53 1.53 1.53 1.51 1.43 1.52 1.56 1.53 151 1.44 1.51 1.55 1.51 131 1.43 1.51 1.57 1.49 1.51 1.44 1.49 1.60 1.54 1.48 1.44 1.50 1.53 156 1.48 1960 1961 1962 1963 1964 1.47 1.57 1.47 1.49 1.46 1.49 1.56 1.48 1.47 1.46 1.51 1.53 1.46 1.47 1.47 1.50 1.54 1.46 1.46 1.45 1.53 1.52 1.47 1.48 1.44 1.53 1.49 1.49 1.47 1.45 1.54 1.51 1.48 1.46 1.42 1.55 1.48 1.48 1.47 1.44 1.54 1.49 1.49 1.48s 1.43 1.54 1.47 1.48 1.47 1.45 1.56 1.46 1.46 1.49 1.45 1.54 1.46 1.49 1.45 1.41 1.53 1.51 1.48 1.47 1.44 1965 1966 1967 1968 1969 1.43 1.41 1.53 1.52 1.53 1.43 1.43 1.54 1.53 1.54 1.41 1.42 1.54 1.52 1.54 1.41 1.43 1.54 1.53 1.53 1.44 1.45 1.55 1.53 1.54 1.44 1.45 1.54 1.52 1.55 1.42 1.47 1.55 1.51 1.55 1.44 1.48 1.55 1.55 1.55 1.44 1.49 1.55 1.54 1.54 1.43 1.50 1.56 1.53 1.54 1.42 1.52 1.53 1.52 1.56 1.42 1.52 1.51 1.53 1.57 1.43 1.46 1.54 1.53 1.55 1970 1971 1972 1973 1974 1.58 1.61 1.55 1.44 1.51 1.59 1.61 1.56 1.44 1.52 1.61 1.61 1.54 1,46 151 1.63 1.61 1.53 1.47 1.52 1.60 1.60 1.53 1.48 1.53 1.60 1.58 1.53 1.50 1.55 1.61 1.59 1,52 1.49 1.55 1.63 1.61 1.51 1.50 1.56 1.63 1.60 1.50 1.51 1.59 1.65 1.60 1.49 1.48 1.62 1.68 1.57 1.47 1.47 1.65 1.62 1.56 1.45 1.51 1.72 1.62 1.60 1.52 1.48 1.71 1.60 1.58 1.61 1.57 1.71 1 59 1.57 1.58 1.59 1.75 1.59 1.56 1.58 1.55 1.72 1 58 1.56 1.55 1.60 1.71 1.59 1.57 1.56 1.56 1.69 158 1.56 1.56 1.59 1.67 1.59 1.56 1.57 1.60 1.66 1 59 1.57 1.55 1.59 1.65 1 60 1.58 1.56 1.59 1.65 1 63 1.57 1.55 1.59 1.65 1.60 1.57 1.55 1.60 1.63 1 56 1.56 1.56 1.60 1.68 1.59 1.57 1.57 1.59 1.58 1.60 1.73 1.66 1.52 1.59 1.61 1.69 1.67 1.53 1.63 1.62 1.69 1.63 1.54 1.68 1.61 1.69 1.63 1.55 1.71 1.63 1.67 1.61 1.55 1.71 1.64 1.70 1.57 1.54 1.68 1.64 1.70 1.57 1.56 1.67 1.64 1.71 1.57 1.57 1.64 1.66 1.71 1.56 1.58 1.60 1.68 1.72 1.55 1.58 1.60 1.70 1.70 1.54 1.58 1.60 1.72 1.70 1.52 1.57 1.64 1.65 1.70 1.59 156 1.58 1.55 1.52 1.48 1.45 1.58 1.56 1.47 1.48 1.47 1.57 1.58 1.48 1.46 1.47 1.57 1.55 1 47 1.46 1.45 1.55 1.55 1 47 1.46 1.46 1.57 1.54 1 47 1.45 1.46 1.58 1.55 1.46 1.46 1.48 1.55 1.54 1 45 1.46 1.44 1.55 ; 1.49 1 45 1.47 1.45 1.56 1.52 1 46 1.45 1.47 1.55 151 148 1.45 1.47 1.56 1.48 1 48 1.45 1.47 156 1.54 1 47 1.46 1.45 1.48 1.45 1.44 1.46 1.45 1.43 1.45 1.43 1,46 1.46 1.48 150 1.46 671 512 699 859 759 628 538 69.3 52.8 "„"." ... 1975 1976 1977 1978 1979 \'"Z 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 .. 1990 • 157 83. Index of consumeir expectations, NSA (1966:1=.100)© l 1948 1949 1950 1951 1952 1953 1954 92 4 839 955 85 3 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1046 949 103 4 999 994 1965 1966 1967 1968 1969 103 0 1000 964 943 50 0 812 1975 1976 1977 1978 1979 757 842 772 1033 96 2 82 9 97 5 1052 98 6 975 985 934 941 96 8 992 970 107 3 104 3 90 7 902 911 916 955 94 3 89 9 89 6 86 6 911 712 822 757 784 913 67 3 63 9 63 0 57 6 698 795 836 707 855 815 670 75 9 . 958 934 970 960 . 1038 1052 863 981 965 941 972 980 758 759 909 733 494 1970 1971 1972 1973 1974 897 861 999 79 6 713 772 87 8 698 58.4 62.2 69 5 53.7 71.1 53.3 73.0 54.9 68.1 51.4 720 442 49.3 53.6 1930 1981 1982 1983 1984 54.1 67.2 62.9 65.2 97.0 54.9 61.4 58.7 71.2 93.2 44.3 61.4 53.1 80.9 97.7 44.4 45.3 53.0 729 705 61.1 86.9 91.4 62.0 93.4 90.6 60.1 892 59.6 70.1 60.9 68.2 93.7 672 681 53.4 664 57.6 91.1 91.9 1985 1986 1987 1988 1989 90.3 85.3 86.5 87.8 84.2 87.5 91.1 90.3 81.3 847 806 808 858 842 80.9 89.9 81.9 88.8 82.4 83.2 87.3 80.1 85.7 82.0 87.4 88.5 83 3 82.3 85.5 86.3 85.9 816 87.3 86.9 83 3 85.2 87.6 87.0 88.5 809 88.8 80.3 83.4 81.3 81.3 83.9 79.3 76.6 77.3 62.9 1990 „ 89.8 52.0 51.5 68.9 61 5 70.4 86.1 91.6 762 59.7 55.6 71.0 87.9 91.5 568 56.8 65 0 67.9 91.0 87.9 84.7 92.7 80.8 87.1 80.4 84.5 81.6 810 872 85.8 81 3 89.5 88.6 86.3 84.3 88.1 78.3 76 7 85.5 85.5 58.8 50.9 52.8 53.7 702 68.3 66.9 85.8 96.4 842 1. Copyrighted. This series may not be reproduced without written permission from the University of Michigan, Survey Research Center, P.O. Box 1248, Ann Arbor, Ml 48106-1248. NSA Not seasonally adjusted 71.7 49.5 727 617 865 852 85.3 C-38 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued YEAR June May Ac*. July Oct. Sept Aug. Annual Dec. 91. Average duration of unemployment in weeks (weeks) 1943 , 1949 , 1950 . 1951 . 1952 , 1953 . 1S54 . 1955 . 1956 . 1957 . 1958 . 1959 . 1960 . 1961 . 1962 . 1963 . 1964 . 1965 . 1966 .. 1967 . 1963 . 1969 . 1970 .. 1971 ., 1972 .. 1973 .. 1974 .. 1975 .. 1976 ., 1977 .. 1978 .. 1979 .. 1980 .. 1981 .. 1982 .. 1933 .. 1964 .. 1985 .. 1986 .. 1987 .. 1988 .. 1969 .. 1990 .. 3.6 8.6 10.8 8.8 110 8.5 11.7 9.5 10.9 7.8 11.6 8.1 11.8 6.6 10.0 13.1 87 7.3 122 9.1 7.6 8.0 12.8 122 12.3 9.1 8.1 7.1 12.9 8.9 9.1 7.2 13.3 10.7 9.7 9.5 7.9 13.2 10.7 9.3 8.8 8.0 13.4 12.1 9.7 8.4 12.3 12.5 92 7,5 7.9 12.5 13,4 10.1 10.2 14.4 14.9 13.8 10.5 10.1 14.6 14,3 12.3 12.0 10.5 15.7 13.7 11.7 11.8 98 16.5 13.7 11.5 11.6 11.1 16.5 12.9 11.3 10.9 10.4 164 13.1 12.0 11.4 10.4 15.7 13.1 11.8 13.0 11.3 10.5 13.9 14.4 11.9 15.6 15.5 14,5 13.6 11.9 162 15.1 14.0 13.6 12.6 17.3 14.6 14.0 14.7 122 17.0 14.5 13.9 13.0 12.9 16.1 14.1 142 12.7 13.5 15.9 14.1 13.9 12.6 13.9 17.0 13.3 13.3 14.0 12.4 15.8 13.6 13.3 12.7 12.8 15.6 14.7 14.0 13.3 11.4 10.8 88 8.7 7.9 11,1 10,2 87 8.2 7.9 11.6 9.7 8.3 7.9 11.6 9.7 11.9 9.8 8.9 8.3 11.9 10.1 8.4 82 11.7 9.7 8.0 6.0 11.4 9.5 8.6 82 8.0 11.8 10.4 8.7 8.4 7.8 8.2 10.9 12.4 10.0 9.8 8.6 112 12.3 10,1 9.6 11.6 12.4 9.6 9,7 8.9 11.5 11.8 96 9.9 7.9 8.8 12.1 10.3 8.7 8.4 7.6 11.5 11.8 9.8 9.8 6.9 11.9 12.1 9.4 9.6 8.7 12.6 11.7 102 9.9 9.3 12.0 11.4 9.8 11.5 11.4 89 82 84 83 87 83 8.5 88 9.1 9.1 11.3 10.6 93 93 8.7 11.8 108 88 84 95 12.4 10.1 84 12.7 9.9 106 12 6 106 90 7.8 10.9 11.6 134 11.7 10.4 10.5 16.3 142 125 10.7 11,0 15.5 134 116 10.8 11.2 15.3 14,3 11.0 106 12.1 14.9 14.4 10.4 10.4 13.1 14.7 135 13,7 153 13.8 135 131 136 160 14,1 13.0 14.1 15.0 14.5 135 12 6 15.5 14.9 14.5 12.4 12.0 11.1 89 65 7.9 132 12.6 11.2 12 2 11,9 93 94 81 92 87 7.9 80 85 7.8 7.9 10.0 8.2 7.7 8.6 8.3 8.4 7.8 7.9 10.5 12.1 11.0 9.5 10,4 12.4 10.5 96 83 106 12.3 10.6 9.7 10.7 166 152 12.9 11.1 11.7 16.3 14.7 12.5 11.2 11.8 165 14.5 12.4 11.7 12.9 159 14.4 12.3 11.0 13.4 15.0 14.9 12.1 11.1 15.3 16.9 14,4 12.1 10.4 15.0 157 14.3 12.0 10.3 15.6 15.6 13.9 11.4 10.S 16.1 14.0 11.4 10.5 15.4 15.2 13.7 11.7 10.5 104 143 11.0 14 C 14.1 19.4 19.1 11.4 13.9 14.5 194 20.4 106 14.1 14.1 19 2 19.0 18.9 10.9 13.8 14,9 20.5 18.8 11.3 13.7 15.7 20.8 18.1 11.8 13.8 15.4 212 18.0 12.4 14.4 16.2 20.0 17.3 12.9 13.6 16.6 202 17.0 13.1 13.5 172 202. 16.7 159 14.6 14.3 14,1 125 15 9 152 14.6 143 12.3 16.1 14.6 149 13.7 12.3 16.4 14.7 14,9 13.4 12.6 15.3 14.7 14.8 13.8 11.9 15.5 15.2 15.0 13.3 112 15.5 15.2 142 13.5 11.9 15.3 15.5 14.4 13.6 11.4 15.3 15.4 142 13.5 11.5 11.9 11.7 11.9 12.1 11.6 12.0 12.1 12.3 T3.4 195 8.9 8.1 e.o 9.9 9.5 9.6 10.1 8.6 11.3 12.0 10.0 9.8 16.6 15.3 13.6 11.1 10.6 16.S 15.1 13.6 10.6 10.8 142 15.8 14.3 11.9 10.8 13.6 13.1 17.1 19.7 17.0 13.7 13.1 18.1 192 16.8 11.9 13.7 15.6 20.0 18.2 15.3 152 14.0 13.4 11.8 15.7 15.0 14.0 12.5 11.6 15.1 15.0 142 12.9 11.5 12.4 12.0 12.4 12.4 15.6 15 0 14.5 13.5 11.9 12.1 124,654 78,382 121,915 77,475 116,539 79,205 113,554 81,345 109,543 82.793 109,543 62,793 117,370 219,007 268,314 242,752 156,778 125230 221,933 270.422 228,757 157,813 131,582 228.434 267,402 220,608 162,426 134,429 231,415 266,025 214,819 159,553 137,345 232212 265255 207,933 159,331 137,345 232,212 265,255 207.933 159,331 92a. Manufacturers' unfilled orders in 1982 dollars, durable goods industries (bit. 152 S) 129.601 105.029 127,653 101.541 125,846 97,615 124,776 92295 122.705 87,775 124,317 83,045 125,355 79,740 85.249 156,433 234.385 271.558 199.227 86.403 166.891 234.363 273.117 193.238 88.113 178,645 241,585 269,185 184,387 89,657 190.346 249.568 266.351 177,915 91.062 198,524 249,420 265.065 171,553 93.892 207,281 259,358 262209 165,039 102,716 215.482 265.934 253.427 160.841 161.505 190.563 128.831 140,432 134,593 163.115 190.696 198.781 135.948 137,517 167.273 191,405 195.464 135.116 140,994 167.934 194.147 192.171 132.954 142,898 169,143 194.659 189.601 132,655 142,464 169,879 194,255 185,728 133,741 143,125 172,093 198.389 179.830 133,430 141.563 173.759 203,862 174,583 132,994 141,101 175,997 204.875 169,702 131,290 143.234 179,764 202,420 163.319 130.973 145,101 181,829 201290 158,871 132,803 144,804 186,347 200251 154,454 132,347 143,528 186.647 200.251 154,454 132,347 143,528 139.561 124.045 132.066 13S.710 153,390 136,356 124.347 133.757 141.470 154.943 132,911 123,614 132.602 145.880 156,991 130.450 124.710 131.048 148,240 159,098 129.012 125,485 129.964 150.772 162.077 128,432 125,814 129.377 150,129 164.710 126,926 126,367 129,299 149.937 169,201 127,911 127,651 127.952 149,734 170,704 128,631 127,892 129.078 150.510 173,385 126,292 127,743 130,979 151,018 177,479 125,674 128.552 130.976 151296 178,745 124,328 130.485 135240 149.839 180,333 124,328 130,485 135240 149,839 180,338 1967 1968 1969 184.271 222.672 264,139 275.055 279.523 187.224 227.692 264,003 275,338 280,759 189,765 234,003 262.943 273.415 281.444 192290 239,223 263.237 278.507 286,016 195.067 242.896 266299 275.995 286.832 197,592 247,362 270,020 274,978 287,013 199,529 251,303 271,406 271,582 286.653 201,787 254,434 271,500 273,840 287,065 204.822 259.875 271,216 275,870 288.727 209.466 262276 273,765 278.898 287,657 212,985 263222 274.008 278,831 285,682 217,082 264210 277.042 279,126 283,190 217.082 264,210 277,042 279,126 283,190 1970 1971 1972 1973 1974 260,005 249.145 237.344 264.20! 329,204 276,557 251.740 233,122 270.470 333.608 273.135 250.743 233.658 279.112 334,783 269.733 248,012 237.812 284.708 338,911 265,573 243.410 239.800 288.040 342,120 263242 239.217 241,914 292,004 342,644 259,659 236,171 243.767 294,670 341,705 255,825 236.875 245.755 301.275 345.713 254.005 236,536 250,665 307,156 342,911 249.878 235,359 252.800 313.583 334,652 248,112 236258 254,333 319,366 328289 246,713 236.939 259.848 323,653 320,139 246,713 236.939 259.848 323,653 320,139 1975 1976 1977 1978 1979 313.336 266.164 255.075 231.957 333,653 307.457 264.236 263.210 284.034 340.730 299.397 265.789 263,524 289,433 346.787 292.947 265.736 265,191 292,531 349,467 287.937 264213 265,204 297,454 349,380 283.009 264,131 268,064 301.179 351,448 283,151 265,740 269,122 304,129 350,991 281,647 262,821 271.543 307.771 350,173 279.433 262.755 272,853 314,082 351,744 276,506 264.399 275,718 320.933 352,900 273,625 263.590 276.739 328.040 350,904 269.440 264.988 280,990 331,043 349,309 269,440 264,988 280,990 331,043 349,309 1930 1981 1982 1933 1934 352,185 342.460 319.540 301.S08 326.052 352.937 339,509 317.770 299,722 330.447 347.502 339.415 317.913 300.364 339.065 343,789 339.534 317,447 300.083 339.540 339,605 339,385 312,863 300,975 341.873 338,016 336,934 308,704 304206 340,871 341,545 336,611 305,300 305,422 343,950 340,171 334,177 300,501 306,554 343,956 341,547 332,818 298,401 309.484 343,924 342,931 329,035 298,330 316,081 341263 342.108 325.482 295,773 320.763 342,620 342.618 320.813 298.719 322316 341.952 342,618 320,813 238,719 322,516 341,952 1985 1986 1937 1988 1989 345222 35M41 346.810 373,203 394.015 345.303 352,920 345.553 375.780 395.196 343,652 356,956 346,509 374.507 397.989 341,779 354,634 350.154 375,319 401,096 341,172 352.389 353.971 376.109 400,569 344,749 350.020 358,290 377,354 403.752 344,769 349.596 363.139 379.056 406.958 345.823 347,642 365,677 381,899 405.036 343,678 349,286 365,885 382,168 408.471 348.874 348,354 367,492 384,056 408,632 346,525 349,142 368,330 383.409 412267 343,152 348.602 369,371 390.510 419,039 348,152 348,602 369,371 390,510 419,039 1990 420.615 418,768 421.986 423.070 423,364 420,903 422,577 420,696 420.570 422,157 415,076 416.085 416,085 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1S60 1551 1952 1963 1964 1965 1S66 ' C-39 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Apr. Feb. 92b. 1948 1949 , 1950 . 1951 1952 1953 1954 , 1955 , 1956 . 1957 , 1958 . 1959 1960 , 1961 . 1962 1963 1964 1965 1966 1967 1968 1969 . 1970 . 1971 . 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 , May June Aug. July Sept Nov. Oct. Change in manufacturers' unfilled orders in 1982 dollars, durables goods industries (bil. $) -2.10 -4.51 -1.95 -3.49 -1.81 -3.93 -1.07 -5.32 -2.07 -4.52 1.61 -4.73 1.04 -3.31 -0.70 -1.36 -2.74 -.91 -5.38 173 -2.99 2.14 -4.01 1.45 -1.85 -2.23 2.46 19.14 2.17 6.30 -8.71 1.15 10.41 -.02 1.56 -5.99 1.71 11.95 1.54 11.50 7,98 -2.83 -6.47 1.41 8.18 -.15 -1.29 -6.36 2.83 876 7.22 -3.93 -6.85 -2.86 -6.51 8.82 820 6.58 -8.78 -420 1465 3.53 2.38 -10.67 -4.06 7.86 2.93 2.11 -13.99 1.04 6.35 6.50 -3.02 -8.15 4.61 2.85 2.98 -1.38 -5.79 -2.87 2.92 .80 -.77 -6.89 -.22 4.55 7.91 2.75 -478 ^.05 2.17 3.72 -1.42 -14.06 2.25 1.61 .13 -.05 -4.54 2.92 4.16 71 -3.32 -.83 3.48 .66 2.74 -3.29 74 -.40 -3.87 1.09 .66 221 4.13 -5.90 -.31 -156 1.67 5.47 -5.25 -.44 -.46 224 1.01 -4.88 -1.70 2.13 3.77 -2.45 -6.38 -.32 1.87 2.07 -1.13 -4.45 1.83 -.30 5.02 -1.04 -4.42 -.46 -128 2.29 1.12 -3.82 -2.16 1.90 1.21 .51 -2.57 -.30 -.43 -3.97 -.28 1.58 3.47 3.55 -320 .30 1.69 2.76 1.55 -3.44 -.73 -1.16 4.41 2.05 -2.46 1.10 -1.55 2.36 2.11 -1.44 78 -1.08 2.53 2.98 -.58 .33 -.59 -.64 2.63 -1.51 .55 -.08 -.19 4.49 .98 128 -1.35 -20 1.50 72 24 1.13 2.68 -2.34 -.15 1.90 .51 4.09 -,62 .81 0 28 127 -1.35 1.93 426 -1.46 1.59 -1.60 .51 .40 122 2.54 3.93 5.59 -.07 -1.99 .40 2.95 5.02 -.14 .33 1.24 2.54 6.31 -1.06 3.03 .68 2.52 5.22 .29 .09 4.57 2.78 3.67 3.06 -2.51 .82 2.52 4.47 3.72 -1.02 .18 1.94 3.94 1.39 -3.40 -.36 226 3.13 .09 2.26 .41 3.04 5.44 -28 2.03 1.66 4.64 2.40 2.55 3.03 -1.07 3.52 .95 24 -.07 -1.98 4.10 .99 3.03 .30 -2.49 3,06 3.93 1.07 .17 .34 -3.18 2.43 .40 4.35 5.55 -3.45 2.60 .78 6.27 4.40 -3.42 -1.00 .54 B.64 1.1B -3.40 -2.73 -.85 5.60 4.13 -4.16 -4.60 1.99 3.33 321 -2.33 -4.19 2.11 3.96 .52 -3.58 -3.05 1.87 2.67 -.94 -3.83 70 1.97 6.60 4.01 -1.82 -.34 4.91 5.88 -2.80 -4.13 -1.18 2.14 6.43 -826 -1.77 .90 1.58 578 -6.36 -1.40 .68 5.46 4.29 -8.15 -3.04 -.82 1.91 5.32 -.29 -6.80 -328 .09 .97 2.61 -5.B8 -1.93 -1.86 2.08 7.08 -8.06 1.55 .31 5.40 -6.45 -.05 1.67 3.10 2.68 -5.01 -1.52 .01 4.92 -.09 -4.93 -.08 2.86 372 2.07 .14 1.61 1.06 2.95 -.46 -1.50 -2.92 2.42 3.64 -.82 -2.16 -.07 1.32 6.31 1.57 -2.98 1.64 2.86 6.85 1.16 -2.88 -.81 1.02 7.11 -2.00 -4.18 1.40 4,25 3.00 -1.60 -422 -.37 1.33 4.17 1.52 2.88 -.16 -1.27 3.19 3.54 .75 -2.95 -1.77 -2.19 4.40 -5.44 -.09 .14 .64 8.62 -3.71 .12 -.47 -28 .48 -4.18 -.15 -4.58 .89 2.33 -1.59 -2.45 -4.16 3.23 -1.00 3.53 -.32 -3.40 122 3.08 -1.37 -2.43 -4.80 1.13 .01 1.38 -1.36 -2.10 2.93 -.03 1.38 -378 -.07 6.60 -2.66 -.82 -3.55 -2.55 4.68 1.36 .51 -4.67 2.94 175 -.67 -.56 -1.82 -1.84 1.98 1.62 3.27 3.29 -179 3.83 3.50 .08 1.48 -126 2.58 1.18 -1.65 4.04 36 -127 2.79 -1.87 -2.32 3.58 -2.37 4.32 124 3.18 .02 -.42 4.85 1.70 3.21 1.05 -1.95 2.54 2.84 -1.92 2.86 1.64 21 .81 3.11 -.61 -224 3.82 .79 -.53 3.44 .20 -.93 1.61 1.89 .16 -2.35 79 .89 -.65 3.64 1.63 -.54 .99 7.10 6.77 1.58 -1.85 3.22 1.08 .29 -2.46 1.67 -1.88 -.13 1.59 -7.08 1.01 .52 .04 1.73 1.76 2.38 -.25 6.06 3.64 9.94 78 27 • -1.85 .93 durable go(xis industries, sm oothed (bil. $) t 1948 , 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 . 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1962 1983 1984 1985 1986 1987 1988 1989 -1.82 -3.21 -1.87 -3.63 -3.92 -178 -4.28 -176 -4.52 -1.30 -4.69 -.71 -4.60 -37 -4.12 -.48 -3.40 -121 -2.29 -1.87 -1.05 -2.55 .02 -1.47 -3.31 .97 8.08 3.18 .99 -9.02 1.55 9.12 2.16 1.07 -8.59 1.91 10.11 2.24 .44 -«.37 2.08 10.87 3.06 -.36 -7.99 2.08 10.96 3.11 -.96 -7.55 2.18 10.72 4.06 -1.57 -7.15 3.14 10.23 4.95 -2.89 -6.52 524 9.05 5.13 -4.71 -5.82 6.83 7.54 4.83 -7.02 -4.49 7.69 6.51 3.60 -8.53 -2.48 7.55 5.43 221 -9.05 -1.36 6.84 4.18 .99 -9.06 -.55 4.01 8.57 329 -3.47 -5.82 .29 3.13 -.28 .96 2.96 -.63 178 2.55 -1,19 -6.94 120 -6.36 71 1.80 2.11 2.34 -1.80 -5.46 2.16 2.18 1.97 -226 -424 2.03 2.03 1.44 -275 -2.81 1.76 1.97 1.49 -3.46 -1.63 1.16 1.89 2.05 -4.11 -79 .59 1.89 2.24 -4.60 -.41 .46 2.14 1.72 -5.13 -.1B .58 228 1.03 -5.34 .23 .53 2.73 .35 -5.34 .37 26 1.85 1.94 -3.07 -2.90 1.10 -.47 -.62 .98 1.57 .21 -1.27 -.47 1.19 2.18 .54 -2.02 -.41 1.00 2.85 .94 -2.52 -.18 .55 3.17 1.33 -2.67 .09 .07 3.27 -223 .42 -.49 2.13 2.69 -1.65 .62 -.72 1.42 2.85 -1.00 .69 -.60 .92 2.91 -.80 .62 -20 1.78 -2.48 28 -.31 2.81 2.16 3.11 -.65 .60 .07 .33 2.98 -.66 .77 .78 -.05 2.72 2.72 3.83 2.01 1.03 .83 2.76 4.27 1.25 75 .91 275 4.80 .50 .89 .93 2.71 5.17 .03 .86 1.43 2.70 5,18 .16 .40 1.64 2.67 5.10 72 -.07 1.57 2.55 4.89 1.13 -.79 126 2.45 4.53 124 -.80 .97 2.46 4.44 1.09 -.43 .90 2.76 4.12 1.21 26 .59 3.04 3.50 1.14 .61 .06 3.35 2.80 1.36 .78 -.59 -1.54 .20 .19 1.76 2.02 274 4.39 .99 .29 .88 -1.32 -1.87 -.21 -2.03 -.73 .19 4.09 528 -2.64 -.09 .48 5.07 4.65 -7.21 -3.09 -.08 .47 5.72 4.21 -3.50 -.67 .66 5.77 3.81 3.14 -3.63 -2.19 128 5.05 220 -3.69 -220 1.55 4.96 1.89 -3.47 -1.96 2.16 5.03 1.08 -3.43 -172 2.51 526 -.65 -3.18 -122 2.59 5.46 -2.43 -2.80 -.67 3.03 5.43 -424 -3.03 -124 1.31 5.07 2.03 .16 3.00 5.06 -575 -24 ,92 3.79 2.45 -4.48 -.31 1.29 3.81 1.43 -3.42 -.31 1.51 4.16 .86 -2.74 -.05 1.82 472 .56 1.90 5.37 .04 -2.39 21 2.26 5.44 -.48 -1.43 -.34 -1.94 .43 4.49 -2.24 -.37 -1.98 .58 4.13 -6.95 -.75 .63 3.72 3.43 -2.63 -.67 -5.20 -.01 2.70 5.32 -7.37 -1.07 23 3.43 4.21 -2.36 -1.97 -7.52 -1.39 -2.02 -.80 -2.63 1.31 2.68 -1.58 -1.09 -3.11 1.45 2.00 -.93 -1.30 -326 173 1.33 -23 -1.76 -2.92 2.55 .40 .10 -226 -2.67 3.32 -.01 .34 -2.88 -1.77 3.56 -.35 -.32 1.50 .08 1.29 2.90 1.97 -.55 .86 .96 1.02 2.51 .13 -.49 2.89 .92 2.41 .41 -1.00 3.41 1.19 1.84 .91 -.94 328 123 173 1.10 -.91 2.98 1.34 1.45 75 -.66 2.52 1.14 1.58 .66 -.50 2.05 1.82 2.36 .25 .15 1.52 1.38 225 -.31 -25 -1.13 -1.35 .76 -6.52 3.46 5.42 -5.65 -2.52 .33 2.30 5.09 -6.50 -2.52 -.34 .42 -3.03 -.58 3.69 -.11 .01 -2.95 -.09 3.87 -.05 .96 -.58 2.01 2.45 .13 1.21 -.72 2.07 2.64 .01 1.74 -.57 2.70 2.30 2.18 .10 2.29 5.16 -24 -2.48 29 4.61 1.65 2.78 1.62 t Data are smoothed by an autoregressive-moving-average filter developed by Statistics Canada. -3.59 -1.50 .97 5.56 -229 1.02 3.23 -.13 .05 1.93 .88 2.37 .53 .57 0 -.91 .93 3.73 2.76 -.98 -.94 -2.59 1.30 C-40 SURVEY OF CURRENT BUSINESS October 1991 Historical Data lor Selected Series-Continued May Apr. July June Aug. Nov. Oct. Sept. Dec. 95. Ratio, consumer installment credit to personal income (percent) 1343 1949 1950 , 1951 . 1952 , 1953 . 1954 . 1955 . 1956 . 1957 . 1953 . 1959 . 1960 . 1961 1962 . 1963 . 1964 . 1965 . 1966 , 1967 . 1966 . 1969 . 1970 .. 1971 . 1972 . 1973 .. 1974 . 1975 . 1976 . 1977 . 1978 ., 1979 ., 1980 .. 1981 .. 1982 .. 1983 .. 1984 .. 1985 .. 1986 .. 1937 .. 1988 .. 1989 .. 1990 .. 4.11 5.27 421 5.31 422 5.56 4.29 5,64 4.40 5.73 4.01 5.10 6.62 7.86 8.19 6.34 5.90 6.55 7.96 8.16 6.45 5.94 6,62 8.03 8.14 6.42 •• 5.91 6.60 8.05 8.13 6.35 5.94 6.96 8.16 8.10 6.22 5.98 7.09 820 8.16 6.10 6,04 6.46 7.77 8.16 8.75 9.36 9.46 9.45 9.49 8.75 9.42 9.49 9.28 9 62 8,91 9.37 9.50 9.27 9.85 9.01 9,34 9,58 9-24 9.98 9.05 9.31 9.63 9.20 10.11 9.08 9.39 9.66 9.13 10.10 9.13 9.39 9.72 9.17 10.04 10.41 10.50 10.45 11.23 11.93 10.49 10.40 10,51 11.26 11.99 10.54 10.36 10.57 11.37 12.05 10.59 10.38 1063 11.44 12.07 10,64 10,40 10,67 11.49 12.15 10.64 10.35 10.74 11.55 12.25 1071 10.31 10.80 11.62 1224 10.60 10.32 10.86 11.62 12.23 8.73 9.34 9.52 9.41 9.65 10.49 10.48 10.55 11.32 12.00 12.54 12.69 12.46 12.12 12.38 12.57 12.69 12.41 12.10 12,40 12.58 12.65 12.37 12.11 12.41 12.64 12.67 12.31 12.11 12.39 12.72 12.62 12.28 12.10 12.36 12,50 12.57 12.31 12.10 12.39 12.65 12,55 12.30 12.14 12.39 12.64 12.53 12.28 12.17 12.42 12.64 12.58 12.25 12.22 12.38 12.55 12.64 12.38 12.13 12.38 12.37 12.37 12.48 1300 13.27 12.08 12.35 12.54 13.08 13.27 12.16 12.33 12.60 13.11 13.23 12.23 12.13 12.84 13.14 13.22 12.23 12.36 12.74 13.26 13.14 12,23 12.38 12.73 13.21 13.14 12.22 12.46 12.75 13.24 13.11 1223 12.52 12.61 13.21 13.00 12.19 12.55 12.55 13.16 13.01 12.17 12.56 1259 13.15 12.94 12,25 12.40 12.60 13.12 13.15 12.78 12.05 12.48 13.20 13.73 12.68 12.12 12.57 1321 1373 12.58 12.16 12.67 13.18 13.87 12.45 12.17 12.73 1328 13.93 12.14 12.22 12.81 13.41 13.96 12.28 12.22 12.81 13.45 13.85 12.17 12.22 12.87 13.53 13.88 12.13 12.28 12.92 1356 13.93 12,09 12.32 12.97 13.52 13.94 12.09 12.27 13.04 13.59 13.94 12.12 12.36 13.13 13,63 1387 12.36 12.21 12.79 13.40 13.86 13.89 1232 12.06 :t.M 12.42 13.82 12.19 11.93 11.84 12.50 13.81 12.23 11.97 11.96 12.65 13.71 12.22 11.93 11.92 12.79 13.56 12.25 11.90 11.85 1307 13.37 12.20 11.92 11.96 13.23 13.12 12.04 11.87 12.08 13.27 12.99 11.91 11.88 12.25 13.39 12.82 11.98 11.90 12.25 13.42 12.65 12.01 11.82 12.25 13.60 12.50 11.99 11.79 12.31 13.68 12.41 12.01 11.86 12.41 13.76 13.22 12.11 11.90 12.08 13.15 1383 15.25 15.63 15 74 1603 13 84 15 25 15.47 15.72 1595 14.10 15.36 15.55 15.67 1585 14.22 15.37 15.60 15.69 15.68 14.44 15.52 1559 15.71 15.99 14.50 15.58 15.70 15.72 15.99 14.65 15.70 15.76 15.65 15.95 14.75 15.75 15.72 15.74 16.03 14.95 15.86 15.79 15.71 16.04 15.01 15.98 15.58 15.60 16.06 15.14 15.96 15.68 15.82 16.01 15.08 15.80 15,53 15.80 15.99 15.92 15.90 15.82 15.81 15.79 15.74 15.72 15.70 1566 15.66 15.61 15.50 14.54 15.62 15.64 15.71 15.98 15.74 365 4 60 3.77 4 65 369 4,77 396 4.90 3.97 5.07 569 626 6.01 7.32 8.17 5.68 620 604 7.45 817 590 6,09 6,11 7.57 8.20 6.03 603 625 7.67 8.17 6.20 5.98 6.45 7.73 8,18 6.31 943 972 926 8.30 924 941 9.70 930 842 9 32 9.43 9 60 932 8.50 931 945 9.59 9.36 860 9.37 9.48 953 9.42 1011 10.77 10.35 1088 11.70 10.20 10.73 1037 11.06 11.68 10.34 10.66 10.32 11.09 • 11.85 10.37 10.59 10.37 11.18 11.87 12.27 12.70 12.51 12.17 12.30 12.43 12.70 12 56 12.05 12.41 1246 12.69 12.43 12.12 12.36 1243 1233 12.48 12.89 13.20 12.43 12.40 12.33 12.96 1327 12.75 12.07 12,48 13.19 13.70 3 56 451 563 628 605 722 8.19 822 9.20 4.06 520 593 99a. Index of sensitive materials prices (1982-100) 40.01 39.03 40.34 38.25 39,91 37.59 40,19 36.00 40.71 35.47 41.07 34.76 40.88 34.81 40.52 35.30 39.95 35.70 . 39,68 34.98 39.73 35.33 39.49 35.47 40.21 36.06 35.55 53.40 4350 39.39 37.56 35.56 5427 42.58 39.19 37.56 36.01 54 20 41.44 39.55 37.95 36.44 53.42 41.17 39 26 38.43 37.54 53.00 40.85 39.53 38.56 38.62 51.62 40.10 3938 38.85 41.06 48.52 39.88 39.12 39.04 44.15 46,12 40.21 3893 38.81 46.72 44.70 40.54 33.63 39.02 48,02 4521 40.07 38.32 39.31 49.57 44.46 39.58 38.08 3922 50.88 44.07 39.90 37.88 39.16 3961 42.00 41.51 38 35 39.49 39.94 41.97 41.00 33.32 39.42 39 84 42.03 41.00 37.95 39.84 40.14 41.85 40.82 37.50 40.25 40.30 41.54 40.56 37.59 4064 40.56 41.04 40.24 37.69 40.69 41.23 40.97 40.10 38.24 40.68 41.24 41.14 40.02 38.49 40.63 4129 4123 39.71 38.74 41.03 41.16 41.31 39.22 39.48 41.30 41.46 41.57 38.84 39.79 41.42 42.04 41.80 38.61 39.37 41.54 41.58 39.42 40.48 39.61 4072 41.25 3989 40.30 39 62 40.75 41.09 39.97 40.37 39.64 40.94 41.21 40.05 40.00 39.50 41.26 41.20 40.24 40.15 3956 41.07 40.89 39.64 39.83 39.71 41.19 40.66 40.12 39.63 40.04 41.31 40.63 40.27 39.57 40.08 41.73 40.49 40.23 3957 39.91 42.14 40.19 40.49 39.66 40.18 42.79 40.03 39B2 3980 40.48 42.99 39.61 40.28 39.59 40.78 43.13 41.68 49.42 40.82 38.94 38.63 40.74 41.54 40,14 38.46 40.59 40.74 40.05 39.92 39.93 41.67 42.71 44.51 41.79 40.97 44.66 42.61 44.69 41.42 41.16 45.13 42.80 44 97 40.87 41.62 45.30 43.20 45.02 40.47 41.81 45.50 43.69 44.84 40.41 41.59 45.56 43.56 44.71 40.72 41.98 45.78 43.64 44.69 40.66 42.29 46.06 43.88 43.58 40.58 42.60 46.56 43.93 43.16 40.66 42.81 47.03 44.18 42.73 40.73 43.35 46.92 4421 42.35 40.81 43.91 47.11 4421 42.14 41.20 44.14 47.18 43.55 43.95 40,86 42.35 46.07 47.16 44.35 46.93 5583 76.12 46.76 44.38 47.21 57,56 77.84 46.48 44.77 48.34 53.95 79.34 46.45 45.32 49.01 60.23 79.14 46.34 44.87 50.70 61.08 77.57 4589 45.10 51.25 63.05 77.36 45.43 45.28 51.65 64.42 78.05 45.35 45.70 51.86 66.40 7722 44.92 45.96 51.99 67.65 76.45 45.06 46.15 52.83 68.93 73.41 45.16 4620 54.05 70.66 7085 44.60 46.61 54.90 74.65 67.41 45.80 45.39 50.89 64.12 75.90 66.43 70.70 78.42 83.75 9296 66 23 71.40 7919 84.36 94.63 65.82 71.82 80,87 84.06 96.92 66.39 73.32 80.64 8357 99.37 66.94 7463 80.59 84.02 100.97 65.27 75.75 79.75 85.91 102.07 65.14 78.43 79.97 86.39 102.88 £6.62 7853 8051 87.66 102.58 68.67 78.65 80,56 89.04 102.48 69.19 78.17 81.15 91.03 105.75 69.54 77.79 81.72 92.52 107.39 70.32 7822 82.85 92.04 106.63 6722 75.£2 80.52 87.05 101.41 110.55 110.31 104.30 97.97 11539 112.51 108.94 103.87 99.92 116.78 113.63 109.99 102.71 100.12 117.98 11132 11094 100.45 100.40 118.47 107.72 111.01 100.35 101.33 11825 106.07 110.97 93.83 102.38 117.97 106.65 111.21 99.33 105.17 116.81 108.85 111.40 93.44 103.55 115.31 110.12 109.65 93.81 110.22 114.98 111.20 108.33 98.29 112.48 112.60 112.04 106.40 97.45 114,23 112.42 111.35 105.06 97.18 114.94 11157 110.17 109.52 100.00 105 64 115.71 1985 1986 1987 110,61 10463 112.54 12356 133.89 110.03 104.15 111.94 12362 135.42 109.75 103.01 112.57 124.79 135.82 108.79 102.64 114.99 125.93 134,95 107.73 103.59 117.66 126.76 133.81 106.63 105.14 118.83 128.36 132.72 106.00 106.81 120.55 128.26 131.60 105.37 104.03 122.11 128.69 131.16 103.71 105.94 122.84 128.33 131.41 103.53 109.51 123.47 128.21 131.51 103.06 111.91 122.43 131.07 129.41 103.13 111.62 122.98 13220 126.67 1990 125.74 124.22 125.67 127.42 127.54 127.36 127.58 128.04 127.79 126.53 124.31 123.91 106.53 106.08 118.58 127.48 132.36 126.34 1948 . 1949 . 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 I960 1931 . 1982 1583 1984 C-41 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Jan. YEAR Mar. Feb. Apr. May June Nov. Oct. Sept Aug. July Annual Dec. 99b. Change in sensitive materials prices (percent) 1948 1949 -1.16 0.82 -2.00 -107 -1.73 0.70 -423 129 -1.47 088 -2.00 -0.46 .14 -0.88 1.41 -1.41 1.13 -0.68 -2.02 0.13 1.00 -0.60 .40 1950 1951 1952 1953 1954 23 495 -1.29 -1.28 -.84 .03 1.63 -2.11 -.51 0 127 -13 -2.68 .92 1.04 1.19 -1.44 -.65 -.73 1.40 3.02 6.32 -6.01 -.55 -.66 .49 7.53 -4.95 .83 -.49 -.59 5.82 - 3 08 -.78 .69 21 2.88 -260 -1.84 -.38 .75 2.78 1.14 -1.16 -.80 .74 323 -1.66 -122 -.63 -23 2.64 -88 .81 -.53 -.15 3.08 -1.15 -.82 -.43 1.15 -.10 -.69 -.67 .30 .83 -.07 -123 -.08 -.18 -25 .14 0 -.97 1.07 .75 -.43 -.44 -1.19 1.03 .40 -.74 -.64 .24 .97 .65 -120 -.79 27 .12 1.78 -.17 -.35 1.46 -.02 -.10 .41 -20 .65 .37 .12 .73 .63 -.97 .79 .29 1.40 -.77 .65 .49 -.31 .19 -123 1.91 .66 -.59 -1.06 29 .60 -.05 -.66 .17 .45 1960 1961 1962 1963 1964 .10 -.48 .50 .05 -.15 -.79 1.19 -.44 .03 .07 -.39 .20 .17 .05 .47 29 20 -.92 -.35 .78 -.02 .47 .38 .15 -.46 -.75 -.99 -.80 .38 29 -.56 .70 -.38 .83 29 -.07 .37 -.28 .10 1.02 -.34 -.10 0 -.42 .98 -.74 ..65 23 .68 1.54 -.40 -1.65 .35 .75 .47 -1.05 1.16 -.53 .74 .33 -.39 .14 -.14 25 .47 1965 1966 19S7 1968 1969 -.97 .68 -.83 -.56 1.18 -23 .40 -.89 .46 1.05 .45 .63 -1.33 1.12 .38 .93 .11 -.98 .46 .44 1.13 -.40 -.15 -.53 .13 -.30 -.29 .77 .94 .48 .18 -.04 -.15 .74 .61 .55 .11 -.96 20 .49 1.01 .57 -Z48 -20 .73 1.09 -1.00 .17 1.26 -23 .07 -.89 20 1.29 .40 0 -.50 .96 .52 .15 21 -.40 -.19 .58 .56 1970 1971 1972 1973 1974 -.04 -.54 .69 1.69 1.97 -.85 .05 .60 3.10 226 -.60 .88 2.39 2.41 1.93 -.06 123 1.39 2.17 -.25 -24 -.99 3.45 1.41 -1.98 -.97 .51 1.08 3.23 -27 -1.00 .40 .78 2.17 .89 -.18 .93 .41 3.07 -1.06 .57 .25 1.88 -1.00 .31 .41 1.62 1.97 -3.98 22 .11 2.33 2.44 -3.49 -1.24 .89 1.55 5.65 -4.86 -.47 .37 1,38 2.60 -.82 -1.45 .54 .26 1.09 1.00 -23 .99 .98 .73 2.01 -.69 .87 2.09 -28 -.58 2.53 .83 1.79 -.06 .54 1.61 -2.49 1.50 -1.04 -20 3.54 .28 ..56 .79 227 .13 .68 1.70 -29 3.08 .15 .06 1.34 -.10 .76 -.61 ,73 223 3.19 .51 -.49 .70 1.64 1.55 1.12 .55 1.38 -.52 120 .37 .90 .48 .89 1.40 1980 1981 1982 1983 1984 1.72 -.93 -.72 .81 .39 1.77 -1.24 -.41 1.99 1.20 1.00 .96 -1.12 20 1.03 -2.03 -2.20 28 .42 -323 .06 -.10 .93 -.19 -1.53 -.04 -1.51 1.04 -24 .55 22 .51 2.73 -.98 2.06 .17 -.90 321 -128 1.17 -1.57 .38 1.54 -.29 .98 -1.20 -.53 2.05 -2.07 .76 -1.78 -.85 1.56 -.16 -.62 -126 -.28 .62 -.76 -.48 -.64 1.41 -24 1985 1986 1987 1988 1989 -.86 1.45 .82 .47 1.28 -.25 -1.09 .56 .95 .30 -.87 -.36 2.15 .91 -.64 -.97 .93 2.32 .66 -.84 -1.02 1.50 .99 126 -.81 -.17 3.37 .51 -.09 .08 -.45 2.19 -.84 2.23 -1.60 .07 -26 .45 .86 -2.12 -.65 .68 .81 .61 -.35 -.73 1.17 1.39 -.59 -2.60 1.29 .34 -.33 3fi -1.58 1.84 .60 -.28 .19 1990 -.59 1.59 1.45 -.08 -.84 17 -20 -.99 -1.75 -.32 -.18 -1.11 1955 1956 1957 1958 1959 tm[\ !.... . 1975 1976 1977 1978 .. 1979 . -.52 -.46 -.53 .05 1.14 ' -121 .59 2.12 -.36 2.20 .86 -79 .09 225 1.09 -u .82 -.77 .54 22 -.95 .55 -0.88 28 22 99. Change in sensitive materials prices, smoothed (percent) t .38 1948 1949 -.66 -.91 -1.16 -1.73 -2.02 -2.19 .30 -1.98 .14 -1.40 -16 -.72 -.41 -.49 -48 -.16 -.54 .11 1950 1951 1952 1953 1954 .28 4.47 -2.14 -25 -.68 .35 4.00 -1.86 -.33 -.63 .51 3.16 -1.61 -21 -.37 .70 2.06 -1.62 -.21 1.60 -.07 -1.33 -.06 .48 2.52 -1.50 -1.18 -.12 .61 3.73 -2.81 -.83 -21 .52 4.72 -3.61 -.40 -.33 .47 5.04 -3.44 -25 -.47 .48 4.98 -3.10 -29 -.57 .39 4.63 -2.60 -.17 -.62 .02 1.12 1.03 -1.40 -.09 27 .31 .47 .17 -.81 .67 .41 .39 -.02 -.71 .46 .37 .31 -.13 -.69 .42 .41 .16 -.24 -.74 .47 .42 -.05 -.35 -.64 .57 .46 -.32 -.48 -.46 .57 .66 -.47 -.54 -.10 .49 .68 -.43 -.52 .22 .43 .61 -.32 -.55 .46 .40 .45 -.19 -.66 .80 .42 .39 0 -.76 .99 .41 .49 .18 -.80 .83 .39 .47 -.02 -.41 -.07 .48 1960 1961 1962 1963 1964 .34 -.60 .12 -.06 .42 .16 -.39 .09 -.03 .36 -.02 -.18 .08 0 .35 -.09 -.01 -.06 -.03 .39 -.11 .15 -.08 -.03 .31 -22 .10 -.19 .03 25 -.32 .14 -28 .17 .23 -.35 20 -.33 25 .32 -.37 20 -.32 .20 .46 -.43 .25 -.24 24 .69 -.46 .03 -.11 .33 .79 -.56 .05 -09 .43 .79 -20 1965 1966 1967 1968 1969 55 .28 .31 .31 -.98 .30 1.00 ,18 .37 -1.01 .41 21 .37 -1.02 .49 .85 35 27 -.91 .40 .69 .35 -1.01 28 .94 .13 -.62 .41 .34 -.37 -.22 .54 .55 .32 -.68 -.07 .57 .64 .34 -.91 .05 .58 32 .03 -.39 .47 .51 .68 .57 32 -1.04 .14 .83 .51 26 -1.04 .30 .88 .42 .32 -.19 -.48 .52 .68 -.13 .86 1.98 2.77 -25 .11 1.08 2.16 2.29 -.32 .15 1.53 2.16 1.43 -.45 22 1.73 2.31 .69 -.60 28 1.72 2.37 29 -.63 .41 1.54 2.51 -.13 -.69 .50 126 2.50 -.49 -.59 .54 1.14 2.43 -1.17 -.42 .51 1.23 2.33 -1.88 -.44 .54 1.33 2.80 -2.69 -.34 .18 1.22 223 .58 1.10 1.09 .18 1.31 .98 127 .64 .30 1.51 1.11 1.35 .36 .52 1.35 120 -.67 120 28 .88 1.34 .15 -.35 -.43 2.05 -.89 .46 -.71 -.40 2.09 -.99 .49 -.99 -.36 1.92 -1.01 .36 -.11 -.87 1.09 21 -.74 1.29 ') .80 .47 -.56 -.59-i 1.33 .54 .62 -.84 -.79 .38 1.06 .45 .OS -.25 -.47 -27 1955 1956 1957 1958 1959 . .95 1970 1971 1972 1973 1974 .31 -.46 .58 1.44 2.93 .09 -.40 .60 1.72 2.91 1975 1976 1977 1978 1979 -3.01 1.29 .19 .72 1.22 -2.81 121 .19 .84 1.24 -2.42 1.09 .45 .75 1.39 -1.74 1.15 .51 .52 1.62 -1.00 1.27 ,46 .38 1.76 -.77 1.37 23 .56 1.75 -.56 1.72 .11 .66 1.62 -.05 1.71 .11 .86 128 1980 1981 1982 1983 1984 1.32 .32 -1.12 -.19 1.61 1.45 .01 -1.10 21 1.38 1.47 -.05 -1.09 .44 1.19 1.00 .05 -124 .17 .10 -1.17 .67 .70 -.55 .12 -1.17 .79 .41 -.83 .14 -.95 1.12 .05 -.60 .15 -.81 1.59 -.34 .66 1.50 .10 1.04 .. -90 -23 -.07 -.57 1.86 -.56 1985 1986 1987 1988 1989 -1.01 -23 1.29 .39 -.94 -.05 1.02 25 -.81 -.08 -.74 -.14 .66 .80 .95 .80 26 .95 .36 .74 -.73 -.03 1.08 .45 .40 -.76 24 120 .62 .04 -.76 .58 1.31 .62 -29 -.73 .35 1.37 .58 -.49 -.B3 .42 1.30 .45 -.51 -.80 .85 1.15 29 -.45 1990 -.99 -1.11 -.87 -.42 -.10 .09' 21 .30 .29 .11 -20 .55 .98 i Data are smoothed by an autoregressive-moving-average fitter developed by Statistics Canada. "I 26 2.52 -.20 - 1 11 -.29 .15 -.01 -.12 .13 .45 C-42 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued YEAR Jan, FeD Mar. Apr. May June July Aug. SepL Oct. Nov. Dec. Annual 101. Commercial and industrial loans outstanding in 1982 dollars (mil. $} 194a 1949 44.744 47.557 45.364 48.183 45,408 47,776 45.420 47.423 46.469 47.095 46,903 46,765 47,457 45,592 47,521 44.977 47.537 44,739 47,701 45,015 47,169 44,781 47,149 44,842 •46,570 46,229 1950 1951 1952 1953 1954 45.212 49.980 60450 67,331 65.980 45.172 51.168 60,833 67.540 66.406 45.172 52,550 61.255 67.791 66.321 45.475 54,221 61,608 69,041 65.878 45.261 55.524 61.813 69.251 65.388 45,985 56,472 62,529 69,269 65,325 46.081 57.182 62.855 68.425 65.106 46.541 57.894 62.584 69,150 62.437 47.799 53.209 63,605 68.554 62,486 48,535 58,648 64,661 68.455 62,591 49,721 59.568 67,082 66,616 64,707 46.684 55,850 62.970 63,297 64,646 1955 1956 1957 1958 1959 64 942 76246 85.503 85.543 83,243 65235 76^520 85,577 84,559 83.290 66 168 7&515 86,955 83.713 83.981 66 362 79^581 87.630 83.463 84.506 67,583 80^630 63,352 82.082 85,903 68.717 81700 89.203 82,079 87,543 70,126 83,030 89,259 81,962 87.495 71207 831312 89,092 81,677 89,028 71 703 83*853 89,639 82206 89,303 73 091 84.095 88.728 82.740 90,370 49.252 58,904 66,304 68,093 63,127 74 434 841847 87,275 82,848 91,130 75495 85! 159 86,834 83.301 91752 69622 81457 87.837 83.015 87,295 1560 1961 1962 1963 1964 91.586 95.855 97,858 105 348 U3!0S8 93.161 95.761 93.237 105940 114^576 93223 96,182 93.804 106 305 114.592 93,805 96,696 99.744 107,252 115,623 94,968 96,829 100,492 107403 116.952 96.192 97256 101,197 107 399 117>02 96,142 96,806 101,551 107445 118.177 95,997 97,156 102.424 108294 Iig'380 96,335 97,400 102.270 109155 120.691 96,148 97,403 103,839 110557 121293 96.505 97,594 104,726 112420 122,584 96,215 97,718 105,193 114 136 124,533 95,048 96,688 101.361 108 471 118,266 1565 1566 1957 1968 1969 126.538 149,336 171.355 184,234 205,305 129.201 150,479 172,904 183.565 206,240 131.937 152,536 175.331 183,900 208.463 133 372 154,157 177.852 186,997 213.354 135.850 156.256 177.955 186.968 215.124 136043 158;811 178,851 188,412 217.120 137.052 160,633 179,973 169,813 217.539 140 096 163,307 179,838 193,336 221,423 142.954 164,955 180.641 194.852 224,117 144 418 167710 182.018 197,099 225,900 146,353 169,505 183,458 199,858 226,504 147290 170,315 184,341 201,277 227,826 137.592 159,838 178,717 190.859 217,410 1970 1971 1972 1973 1974 225.137 226.739 217,727 226,632 232,586 227,790 226.101 217,500 231.212 232.644 231.065 226.214 219,885 230.700 232,684 230,617 223.032 222.244 233.413 240.696 231.962 223,824 222.547 231.627 241,527 232,870 220.738 222,338 231.134 243,340 231,547 216.311 221,072 237,374 242.048 234.407 221,265 221,446 228,432 238,469 234.119 226,807 220.381 232,244 245.848 229.714 224.360 225,691 236.855 243,149 228,240 223,948 226.819 238.445 243,439 228,283 220,953 224,114 235,590 244,106 230,480 223,534 221,814 232.805 240.061 1975 1976 1977 1978 1979 245.038 209.254 198.169 202,332 211.348 244.065 209.947 198,143 200,975 211,403 242.798 205,817 196,847 203,430 211.524 237,503 199.322 195.570 203 797 215!596 231,002 199.127 195.920 205,797 217,070 226,547 199,376 198,446 207 924 220i029 222.680 196.961 197.942 208 717 221.364 219,625 197,204 200,329 209 932 2241896 215734 195.324 200.380 209 534 227! 182 212,373 196,721 201,485 209 611 224|603 211,985 198.898 202,541 211,492 222,027 211,466 198,760 202,979 210 275 223JS53 226,735 200,560 199,063 206 985 219,216 1980 1981 1932 1983 1984 226.606 223.756 255.459 268.017 267,024 227,029 222.051 260.455 267.246 270.702 229.035 218.223 262.378 268,376 276,583 228.454 219.931 267.759 264.546 282,904 225.092 225.106 271,565 259,390 288,689 228,246 228,949 272.899 259,504 298,112 222.492 231,984 272,072 258,345 301703 220,472 237,186 272722 258,227 305,775 221,829 241,748 274.885 257,595 310,868 220,611 244,062 274,307 256,193 314,940 224,520 247,793 269.427 257,774 316.890 224,962 250,663 263,382 261,357 318,318 224.946 232,642 268,109 261,381 296.042 1985 1986 1S37 . 1SS8 1989 318,828 340,214 364,667 354,115 371,958 321,793 343 552 36V323 358.998 377,818 324,607 346 847 359^137 360.440 379,200 324,451 344 018 356444 363316 379,516 326,674 345 052 3S3!526 362,669 385.105 326,114 346 324 353171 363J63 388,500 328,855 349 561 350404 364,182 392.447 331782 354,412 346810 365J85 401.473 332.614 353 127 350297 364J379 399.826 334,166 353 830 351 '588 368i050 398,845 335,617 353 963 350ii13 369,929 401,214 336736 359,861 352 611 372J61 393,662 328.520 349 230 354*174 363,932 389,547 1990 393.403 399,434 409.697 408,784 405,575 407,008 409,398 405,392 402,789 393.160 392.583 393,386 401,717 805.5 824.0 804.7 819.8 807.5 826.5 812.8 824.0 8112 8286 8166 820.9 824.0 808.9 8330 850^5 8917 822.4 805 9 8370 855^0 891.7 811.6 804.4 8365 854^1 696.4 831.0 800.4 8234 8482 874.8 106. Money supply M2 in 1982 dollars (bil. $) 1948 1949 832.1 8133 832.1 8165 835.7 816.5 8239 817.7 816.1 819.4 8128 819.0 1950 1951 1952 . 1953 1954 833 6 801.9 807 6 840.6 856.6 834.7 791.4 8146 8420 856.1 8333 791,0 8164 8433 858.6 841.2 792.5 816 0 8458 860.9 833.5 7922 8219 848.4 868.5 840.5 797.8 822 5 8464 871.0 832.8 801.9 8191 8SV3 878,4 831.1 808.6 825 4 8504 882.7 8282 8082 8304 85i!i 884.5 1955 1956 1957 1958 1959 901.1 9169 911.2 897.0 952.5 9032 913.6 9C6 6 9047 956.1 902,2 9158 9069 909.1 S66.9 904,7 915.0 9083 912.7 964.1 911,6 9143 907.9 918.7 971.1 911.6 910.3 9058 927.1 973.5 913.7 908.1 905 5 93o!s 977.8 913.7 908.1 904 8 936.8 9782 909.7 908.8 9051 9395 975.3 914.4 906.7 906 1 942^8 972.5 910.8 909.1 904 1 94V5 974.4 916.2 9077 904.1 949.5 976.4 909.4 9112 906 4 925.8 969.9 1960 1951 1962 .... 1S63 1964 981.2 1.0168 1,085.9 1.1600 1,235.9 9790 1,024.6 1,090.7 1,1683 1.242.8 931.3 1.029.8 10S94 1.172.5 1,243.8 980.7 1.035.6 1.104.2 1.181.6 1,255 6 983.7 1.043.0 1,110.2 1,1902 1,263.4 984.4 10492 1.115.3 1,193.4 1 r267,6 994.4 1,050.6 1,121 4 1,202.5 1277-9 999.7 1 056.8 1,123.9 1,206.6 1287.9 1,003,9 1.0592 1.126 0 1,213.2 1,293.8 1,001.9 1,065.0 1134.3 1217.9 1,3022 1,006.5 1,072.3 1,1425 1.227.9 1,307.4 1.011.0 1,078.8 1 151 4 1229.1 1,3152 992.3 1,048.5 11171 1,196.9 1,274.9 1965 1966 1S67 1968 1969 1.324.5 1.401.2 1,4135 1,495.2 1,543.1 1,332 8 1.399.* 1,418.1 1,4932 1.5368 1.336.7 1.402 4 1,430.7 1.500.8 1.534 8 1,340.3 1401.2 1>35 0 1,505.3 1.531.9 1.344.9 1,403,0 1.445,3 1.505.6 1,529.4 1.345.3 1 401 8 11*54.8 1,5072 1,526.4 1,358.6 1.401 5 1.468.4 1.508.3 1.522.0 1.363.0 1 394.4 1>72.9 1,514.9 1.515.9 1,373.7 14021 1'479.3 1,521.4 1.516.4 1,380.5 1 396 2 1*486.0 1,524.9 1,508.8 1,3902 1,4003 1,489.1 1,531.9 1,509.0 1,392.1 1,407.6 1/94.0 1,539.1 1.507.9 1,356.9 1 400 9 V457.3 1,512.3 1,523.5 1970 1971 1972 1973 1974 1.505.1 1.536.1 1,686.2 1,841.2 1.738.6 1,469 6 1.543.2 1.697.0 1.833.6 1,7763 1.488.1 1.569 4 1.715-2 1,823.6 1.770.9 1.481.2 1.589.2 1,724.9 1,622.1 1,7692 1,485.0 1,601.0 1.731.8 1.825.7 1.749.2 1,489.3 1.606.7 1.7424 1.828,2 1.7452 1,489.8 1.614,5 1,760.7 1.8357 1.738.6 1,5002 1,625.1 1,774.3 1,810.5 1,723.6 1,508.4 1.641.6 1.791.1 1.808.6 1,711.7 1.5137 1,651.9 1,802.5 17939 1.698.7 1.517.8 1.6672 1,814.8 17952 1,6957 1.524.5 1,673.0 1,830.0 1.797.5 1,6857 1,499.4 1,610.3 1,755.9 1,818.1 1,737.8 1975 1976 1977 1978 1979 1.683 4 1,783.9 1.936.0 1,994.2 1,967.8 1,688.4 1,809 8 1,938.7 1.993.0 1,955.2 1,702.7 1,822.6 1,941.1 1,989.1 1,950.7 1 7181 18337 1347.1 1,989,4 1.948.5 17323 1.8527 1.957.9 1,988.0 1,935.0 1 7498 1 847.4 1362.0 1,978.0 1,936.0 17494 1,853 6 1,966,7 1,976,0 1.931.6 1 7612 1866.8 13750 1,976.4 1.9250 1764 3 1877.6 1384.7 1,981.4 1,920.3 1 765 9 18935 i!990.9 1,975.3 1,910.8 17712 19081 1,991.3 1,973.8 1,891.8 1,7766 1,973.0 1.830 8 1,738.6 1 !856.9 1365.3 1.982.3 1,929.5 1980 1581 1982 1533 1984 1.865 5 1,813.7 1.852.6 1,9777 2.080.3 1858.8 1.810.7 1.850.6 2,013.3 2.089.4 1,837.8 1.819.3 1.8627 2.029.9 2.097.1 1 816 0 1.831.6 1,870.2 2.033.0 2.103.1 18039 1,823,4 1.665.1 2,033.5 2,110.3 1 813 1 1,817.5 1.853.7 2.047.7 2.118.4 1,837 0 1,811.5 1,858.0 2,051.4 2.119.6 1844 2 1,815.7 1.872.9 2.054.3 2,1227 1 8459 1,8102 1.885.7 2.060.4 2.131.4 1 839.5 1,892.6 2,070.5 2,135.4 1 8370 1,8282 1,9082 2,076.8 2,154 0 1 821 0 1*839'3 1,9297 2,0322 2,172.6 1 835 4 i!820ii 1,875.3 2,044.6 2,119.5 1985 1966 1937 1988 1983 2,192.0 2.260.5 2.451.1 2.441.3 2,4447 2.200.7 2,274.0 2.439.2 2.4546 2,434,9 2.199.7 2,3030 2.436.0 2.459.6 2,432.3 2.197.1 2.334.8 2,436 4 2,4658 2,418.0 2.206.2 2,350.8 2,433.1 2,472.3 2,403.0 2,224.8 2,361.6 2,427.0 2.472.0 2.414.5 2.235,5 2,383.3 2,425.9 2,467.1 2,425.9 22469 2,400.8 2.4272 2.459.6 2,437.9 2,256.6 2,409.6 2,431.9 2.449.8 2,4442 2,257.5 2,426.2 2,4368 2,448,8 2.450.3 2259.0 2,435.5 2.431.9 2,453.6 2,4547 2264.1 2.449.1 2,427.1 2,452.0 2,460.4 2,228,3 2.365.8 2,4336 2.453.0 2.435.5 1950 2.446,0 2.451,1 2.451.0 2,453.2 2.451.7 2.442.9 2.437.5 2.4265 2.417.6 2.4057 2,396,5 2,3927 2,431.0 804.3 825.2 11820.0 1323i i!99i'8 C-43 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series-Continued Jan. YEAR Mar. Feb. Apr. May July June Sept Aug. Oct. 109. Average prime rate charged by banks, NSA (percent) 1948 1949 1.75 . 2.00 1.75 2.00 1.75 2.00 1.75 2.00 1.75 2.00 1.75 2.00 1.75 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 1.85 2.00 2.07 2.56 3.00 3.17 3.05 2.00 2.44 3.00 3.00 3.25 2.00 2.50 3.00 3.00 3.25 2.00 2.50 3.00 3.00 3.13 2.00 2.50 3.00 3.03 3.00 2.00 2.50 3.00 3.25 3.00 2.00 2.50 3.00 3.25 3.00 2.00 2.50 3.00 3.25 3.00 2.00 2.50 3.00 3.25 3.00 2.08 2.50 3.00 3.25 3.00 225 2.62 3.00 325 3.00 225 2.75 3.00 3.00 225 2.85 3.00 3.25 3.00 1955 1956 1957 1958 1959 3.00 3.50 4.00 4.34 4.00 3.00 3.50 4.00 4.00 4.00 3.00 3.50 4.00 4.00 4.00 3.00 3.65 4.00 3.83 4.00 3.00 3.75 4.00 3.50 4.23 3.00 3.75 4.00 3.50 4.50 3.00 3.75 4.00 3.50 4.50 3.23 3.84 4.42 3.50 4.50 3.25 4.00 4.50 3.83 5.00 3.40 4.00 4.50 4.00 5.00 3.50 4.00 4.50 4.00 5.00 3.50 4.00 4.50 4.00 5.00 3.16 3.77 420 3.83 4.48 1960 1961 1962 1963 1964 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 5.00 4.50 4.50 4.50 4.50 4.85 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 4.50 450 4.50 4.50 4.50 4.50 4.50 4.82 4.50 4.50 4.50 4.50 1965 1966 1967 1968 1969 4.50 5.00 5.96 6.00 6.95 4.50 5.00 5.75 6.00 7.00 4.50 5.35 5.71 6.00 7.24 4.50 5.50 5.50 6.20 7.50 4.50 5.50 5.50 6.50 7.50 4.50 5.52 5.50 6.50 8.23 4.50 5.75 5.50 6.50 8.50 4.50 5.88 5.50 6.50 8.50 4.50 6.00 5.50 6.40 8.50 4.50 6.00 5.50 6.00 8.50 4.50 6.00 5.68 6.20 8.50 4.92 6.00 6.00 6.60 8.50 4.54 5.63 5.63 628 7.95 1970 1971 1972 1973 1974 8.50 6.29 5.18 6.00 9.73 8.50 5.88 4.75 6.02 9.21 8.39 5.48 4.75 6.30 8.83 8.00 5.25 4.98 6.60 10.02 8.00 5.42 5.00 7.01 11.25 8.00 5.50 5.04 7.49 11.54 8.00 5.90 5.25 8.30 11.98 8.00 6.00 5.27 923 12.00 7.83 6.00 5.50 9.86 12.00 7.50 5.91 5.73 9.94 11.68 728 5.47 5.75 9.75 10.83 6.92 5.25 5.79 9.75 10.50 7.91 5.70 5.25 8.02 10.80 1975 1976 1977 1978 1979 10.05 7.00 6.25 7.93 11.75 8.96 6.75 6.25 8.00 . 11.75 7.93 6.75 6.25 8.00 11.75 7.50 6.75 6.25 8.00 11.75 7.40 6.75 6.41 8.27 11.75 7.07 7.20 6.75 8.63 11.65 7.15 7.25 6.75 9.00 1154 7.66 7.01 6.83 9.01 11.91 7.88 7.00 7.13 9.41 12.90 7.96 6.78 7.52 9.94 14.39 7.53 6.50 7.75 10.94 15.55 726 6.35 7.75 11.55 15.30 7.86 6.84 6.82 9.06 12.67 1980 1981 1982 1983 1984 15.25 20.16 15.75 11.16 11.00 15.63 19.43 16.56 10.98 11.00 18.31 18.05 16.50 10.50 11.21 19.77 17.15 16.50 10.50 11.93 16.57 19.61 16.50 10.50 12.39 12.63 20.03 16.50 10.50 12.60 11.48 20.39 1626 10.50 13.00 11.12 20.50 14.39 10.89 13.00 1223 20.08 13.50 11.00 12.97 13.79 18.45 12.52 11.00 12.58 16.06 16.84 11.85 11.00 11.77 20.35 15.75 11.50 11.00 11.06 1527 18.87 14.86 10.79 12.04 10.61 9.50 7.50 8.75 10.50 10.50 9.50 7.50 8.51 10.93 10.50 9.10 7.50 8.50 11.50 10.50 8.83 7.75 8.50 11.50 10.31 8.50 8.14 8.84 11.50 9.78 8.50 8.25 9.00 11.07 9.50 8.16 8.25 9.29 10.98 9.50 7.90 825 9.84 10.50 9.50 7.50 8.70 10.00 10.50 9.50 7.50 9.07 10.00 10.50 9.50 7.50 8.78 10.05 10.50 9.50 7.50 8.75 10.50 10.50 9.93 8.33 820 9.32 10.87 10.11 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.00 10.01 1950 1951 1952 1953 1954 . 1985 1986 1987 1988 1989 . 1990 325 120a. Consumer Price Index for services (1982-84=100) •(948 4 1949 .II II1..II"" .>..".'."".". 1950 1951 ' 1952 I"I! 1953 1954 1955 1956 ~ 1957 1958 1959 I!!! I!".I t tt "—. ] '. I! , t ...".. '.'. t4 20.7 " 21.4 22.3 22.9 20.7 21.4 22.4 23.0 20.7 21.6 22.4 23.0 20.8 21.6 22.5 23.1 20 8 21.7 22.6 232 209 21.8 22.6 232 20 9 21.8 22.7 23.3 210 21.9 22.7 23.4 211 22.0 22.8 23.5 211 22.1 22.8 23.6 212 222 22.8 23.6 213 222 22.8 23.7 209 21.8 22.6 23.3 1960 1961 1962 1963 1964 23.7 24.4 24.8 25.3 25.8 23.8 24.4 24.8 25.3 25.8 23.9 24.4 24.9 25.3 25.8 23.9 24.5 24.9 25.4 25.9 24.0 24.5 25.0 25.4 25.9 24.0 24.5 25.0 25.5 26.0 24.1 24.5 25.1 25.5 26.0 24.1 24.6 25.1 25.6 26.0 242 24.6 25.1 25.6 26.0 24.2 24.7 25.1 25.6 26.1 24.3 24.7 252 25.7 26.2 24.3 24.8 252 25.8 262 24.0 24.6 25.0 25.5 26.0 1965 1966 1967 1968 1969 26.3 27.0 28.3 29.5 31.4 26.4 27.0 28.4 29.6 31.5 26.4 27.1 28.5 29.8 31.8 26.5 27.3 28.6 29.9 32.0 26.5 27.4 28.6 30.0 322 26.5 27.5 28.8 30.2 32.3 26.6 27.7 28.8 30.4 32.5 26.6 27.7 28.9 30.6 32.7 26.7 27.9 29.0 30.7 33.0 26.8 28.0 29.2 30.9 33.1 26.9 282 292 31.0 33.3 26.9 282 29.4 312 33.5 26.6 27.6 28.8 30.3 32.4 1970 1971 1972 1973 1974 33.8 36.4 37.9 39.1 41.8 34.0 36.5 38.0 39.2 42.0 34.4 36.5 38.1 39.4 42.4 34.$ 36.6 38.2 39.5 42.6 34.8 36.7 38.3 39.6 43.1 35.0 37.0 38.4 39.8 43.5 352 37.1 38.5 39.9 44.0 35.4 37.3 38.6 402 44.5 35.6 37.4 38.7 405 45.0 35.8 37.5 38.8 41.0 45.4 36.0 37.6 38.9 41.3 45.8 362 37.7 39.0 41.5 462 35.1 37.0 38.5 40.1 43.9 1975 1976 1977 1978 1979 46.5 50.5 54.1 58.3 63.8 46.9 50.8 54.4 58.7 64.4 47.0 51.1 54.8 59.1 64.9 47.3 51.3 552 59.6 65.5 47.5 51.4 55.4 60.0 66.2 47.8 51.7 55.8 60.5 66.8 48.0 52.1 56.3 61.0 67.6 48.3 52.4 56.6 61,5 68.5 48.7 52.8 56.9 62.1 692 49.0 53.1 572 62.6 70.1 49.6 53.4 57.6 63.1 71.1 49.9 53.7 57.9 63.3 72.0 48.0 52.0 56.0 60.8 67.5 1980 1981 1982 1983 1984 73.1 83.0 93.5 97.5 102.1 74.1 83.7 93.9 97.9 102.6 75.4 84.4 94.0 98.1 103.0 76.6 85.3 94.9 98.7 103.5 77.6 86.4 95.7 98.9 103.9 79.0 87.5 96.5 992 1042 78.5 88.9 97.0 996 104.9 78.5 89.9 97.6 99.8 105.4 79.0 912 97.6 1002 105.9 80.0 91.7 97.9 100.7 106.3 81.1 92.5 97.7 101.3 106.7 822 93.0 96.9 101.6 107.1 77.9 88.1 96.1 99.5 104.6 1985 1986 1987 1988 1989 107.4 113.1 117.9 123.1 129.0 107.9 113.5 118.3 123.5 129.6 108.4 114.1 118.7 124.0 130.1 108.7 114.6 119.2 124.4 130.6 109.4 114.8 119.6 124.9 131.1 109.8 115.5 120.0 125.4 131.6 110.3 115.7 120.3 1258 132.3 110.7 116.1 121.0 126.4 132.7 111.0 116.5 121.3 126.9 133.1 111.5 116.9 121.7 127.4 133.6 112.1 117.2 122.1 127.9 134.2 112.5 117.5 122.5 128.4 134.9 110.0 115.5 1202 125.7 131.9 135.6 138.2 137.0 137.6 137.9 138.8 139.6 140.4 141.1 141.6 142.1 142.7 1392 1990 . NSA Not seasonally adjusted C-44 SURVEY OF CURRENT BUSINESS October 1991 Historical Data for Selected Series—Continued YEAR Jan. Apr. Mar. Feb. May June Aug. July Annual Dec. Nov. Oct. Sept. 120b. Change in Consumer Price Index for services (AR, percent) 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 5.7 59 5.7 5.5 5.3 0 5.0 0 4.8 4.8 0 • 4.5 4.3 8.4 12.0 9.0 7.3 3.3 3.2 3.1 5.9 1975 1976 1977 1978 1979 8.1 15.4 9.3 86 S.9 1980 1981 1982 1983 1984 5.8 55 5.4 0 0 5.5 5.4 1960 1961 1962 1963 1964 C 5.1 0 4.9 0 5.2 0 0 0 0 0 4.9 0 0 1965 1966 1967 1968 1969 4.7 4.6 4.3 4.2 8.0 4.7 0 4.3 4.1 3.9 1970 1971 1972 1973 1974 11.3 6.8 6,6 0 5.6 58 5.6 5.2 o 5.1 0 0 0 0 4.6 9.0 4.2 59 o 0 58 0 0 5.2 4.3 2.7 4.0 0 5.0 0 0 4.7 5.1 0 4.9 4.8 4.7 0 5.0 0 4.8 0 2.6 2.1 1.6 2.4 1.6 4.6 8.9 0 4.0 7.5 0 0 11.6 4.6 4.4 8.6 8.1 3.7 8.5 8.0 7.5 2.7 4.9 4.3 6.1 7.4 7.0 3.3 3.2 9.3 14.3 7.0 3.3 3.1 15.9 11.2 6.9 3.2 3.1 9.1 11.1 6.9 32 3.1 6.0 11.0 11.4 10.4 9.6 6.5 12.4 13.0 7.6 7.0 15.7 7.0 87 10 0 18.5 7.5 7.0 6.4 39 1&3 8.0 7.7 7.8 94 13.8 17.8 11.0 -2.4 7.4 4.6 175 6.7 -9.4 3.6 4.6 14.6 13.2 4.4 4.9 5.4 67 31 4.0 4.8 5.1 45 4.3 4.8 5.1 59 5.6 o 0 0 0 54 5.3 5.3 o 5.6 5.4 5.3 5.1 0 4.9 0 0 0 0 0 4.8 4.7 5.1 0 4.9 0 0 0 5.0 0 4.8 0 4.6 9.2 4.3 4.1 7.8 0 4.5 0 4.1 7.8 0 4.5 8.7 8.3 3.6 4.6 9.1 0 8.2 7.7 0 0 4.2 8.2 7.6 15.1 0 3.2 6.3 12.0 72 3.3 32 3.1 5.8 7.2 3.3 3.2 3.1 15.0 7.1 10.3 3.2 6.2 11.7 7.1 3.3 3.2 3.1 14.7 10.8 7.4 6.9 86 11.9 2.6 7.3 92 85 97 7.9 4.8 9.1 10.6 117 5.2 2.4 4.4 8.4 13^6 7.8 7.2 9.0 105 \\A 5.1 9.7 11.3 10.4 \5A 200 12.3 6.6 7.7 6.1 17.7 10.6 5.3 5.0 6.0 232 20.9 13.6 12.1 7.6 6.0 168 16.6 10.6 2.5 4.7 23 9 16'.4 10.5 3.7 3.5 -73 21.0 6.4 4.9 8.4 1985 1986 1987 1988 1989 3.4 66 4.2 6.0 5.8 5.7 43 4.1 4.0 5.7 5.7 3.4 6.5 4.1 5.0 4.7 54 5.2 3.9 4.7 6.0 2.1 4.1 4.9 47 4.5 76 4'.1 4.9 4.7 1990 6.4 5.4 7.3 5.4 2.6 8.1 "Z. 3.V 0 11.8 o 0 5.2 10.5 1.3 2.5 4.8 60 0 55 5.3 0 '< 7.0 6.7 3.2 9.4 14.5 7.8 7.1 6.6 10 3 viz o 4.0 f 6.5 10 1 1&8 8.1 4.2 3.5 6.5 16 3 14.4 7.7 2.4 5.9 79 18.8 0 4.9 5.8 5.6 2.1 3^0 3.9 6.6 4.4 42 12 " 5.9 3.7 3.3 4.2 3.0 4.9 37 5.5 5.5 4.4 3 1 4'.0 4.8 6.4 7.1 7,1 6.1 4.3 4.3 5.2 5.8 6.8 3.8 6.2 4.6 42 4.0 4.8 4.6 120. Change in Consumer Price Index for services, smoothed {AR, percent) t 1948 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 47 42 1.6 4.3 43 22 1960 1961 1962 1963 1964 3.5 2.6 2.3 1.9 2.5 1965 1956 1967 1968 1969 23 4.9 35 3.2 30 43 35 3.4 34 4.2 31 38 39 42 31 4.2 37 45 27 4.6 39 4.8 21 4.2 43 43 15 4.1 4.6 33 3.3 3.2 1.9 2.3 1.8 1.6 2.8 2.9 1.1 2.4 2.1 1.9 2.5 2.7 1.4 1.9 2.2 1.2 2.4 1.8 1.4 1.9 \A 2.6 1.9 1.6 2.0 2.0 2.4 2.3 1.5 2.5 2.1 2.9 1.9 2.0 20 1.8 2.8 43 2.2 47 3.8 5.7 7.4 2.2 3.5 5.4 7.8 1.9 53 3.4 6.8 2.1 5.6 ZA 6.8 7.8 2.5 57 42 6.9 7.5 3.0 56 4.5 6.6 7.3 2.6 4.6 4.1 6.0 9.4 3.5 3.6 37 9.5 9.0 4^1 3.4 4.1 10.1 86 4.3 3.3 4.2 11.1 4.9 12.2 7.6 AS 3.2 5.9 13.0 7.3 4*6 3.1 7.9 13.3 3.1 61 4.0 6.6 7.4 71 4.3 3.1 9.2 13.2 75 8.0 68 7.1 7.8 9.1 62 6.8 8.3 95 11.9 17.1 154 61 6.7 8.3 99 132 66 7.1 8.1 104 U9 70 72 7.7 107 147 12.8 161 77 3.9 5.6 9.7 169 6.8 4.1 5.8 8.7 16.0 5.8 4.5 5.7 4.9 4.1 4.6 5.1 5.3 4.5 4.5 4.7 5.0 5.0 4.3 4.5 4.8 4.8 4.9 4.2 4.4 4.9 4.6 6.0 6.3 6.4 6.2 2.3 4.8 37 27 4.8 39 3.3 3.4 2.4 1.9 1.9 2.1 3.5 1.9 2.1 1.6 1.6 3.2 2.1 ' 2.0 1.9 1,7 2.5 31 5.1 4.8 6.8 3.0 28 4,7 4.9 6.5 2.9 3.1 28 1970 1971 1972 1973 1974 78 6.8 4.2 3.1 9.6 80 6.2 4.1 3.1 9.2 91 5!i 4.0 37 4.2 5.5 7.5 9.5 4.2 3.8 3.5 3.7 9.3 8.9 1975 1976 1977 1978 1979 12.0 10.4 7.6 75 9.4 11 3 10.7 97 10.5 7.9 79 9.5 86 9.5 82 84 9.8 1980 1981 1982 1983 1984 17.2 11.9 11.1 .6 17.8 12 3 92 7 5.7 18.9 12 4 19.8 125 6.4 2.1 1985 1986 1987 1988 1939 1990 4.9 5.3 3.6 4.4 5.0 4.8 5.3 3.6 4.5 4.8 5.5 3.7 4.6 52 4.7 5.5 4.0 4.5 52 5.1 4.1 4.6 5.1 5.2 5.2 4.2 4.6 5.0 5.8 6.0 5.6 58 5.5 5.2 77 77 9.4 5.2 5.5 51 38 4.4 5.4 7.1 7.0 1.0 5.7 5.7 7.9 86 io!5 n!o 19.9 132 6.6 20.5 140 2.8 5.6 5.0 3.3 5.2 t Data are smoothed Dy an autoregressive-moving-average filter developed by Statistics Canada. AR Annual rate 1.5 2.1 2.1 1*9 55 3.5 6.2 7.3 7.5 3.8 5.5 5.3 1.4 2.3 24 1.6 12 81 4.7 3.2 69 4^0 3.1 9.5 12.8 7.3 8.2 4.7 3.5 52 11.0 83 82 7.9 9.2 1Z1 84 7.3 91 7.7 7.5 108 157 99 163 9.4 148 4.2 5.1 5.5 10.8 13.0 1.4 5.3 5.3 152 14 0 5.1 4.3 4.9 4.6 5.1 37 4.2 4.9 4.9 5.0 4.8 4.1 4.7 5.0 5.9 5.5 5.9 3.9 7i3 e's 3.1 5.6 C-45 SURVEY OF CURRENT BUSINESS October 1991 Business Cycle Expansions and Contractions Business cycle reference dates Trough Duration in months Peak December 1854 December 1858 June 1861 December 1867 December 1870 Contraction (trough from previous peak) June 1857 October 1860 April 1865 June 1869 October 1873 18 8 32 March 1882 March 1887 July 1890 January 1893 December 1895 June 1897 December 1900 August 1904 June 1908 January 1912 Cycle Expansion (trough to peak) Trough from previous trough Peak from previous peak 18 30 22 46 18 34 48 30 78 36 40 54 50 52 65 38 13 10 17 36 22 27 20 18 99 74 35 37 37 101 60 40 30 35 June 1899 September 1902 May 1907 January 1910 January 1913 18 18 23 13 24 24 21 33 19 12 36 42 44 46 43 42 39 56 32 36 December 1914 March 1919 July 1921 July 1924 November 1927 August 1918 January 1920 May 1923 October 1926 August 1929 23 7 18 14 13 44 10 22 27 21 35 51 28 36 40 67 17 40 41 34 March 1933 June 1938 October 1945 October 1949 May 1954 May 1937 February 1945 November 1948 July 1953 August 1957 43 13 8 11 10 50 80 37 45 39 64 63 88 48 55 93 93 45 56 April 1958 February 1961 November 1970 March 1975 July 1980 November 1982 April 1960 December 1969 November 1973 January 1980 July 1981 July 1990 8 10 11 16 6 16 24 106 36 58 12 92 47 34 117 52 64 28 32 116 47 74 18 108 18 22 18 11 27 35 3 50 51 48 53 56 March 1879 May 1885 April 1888 May 1891 June 1894 . 49 Average, all cycles: 1854-1990 1854-1919 1919-1945 1945-1990 30 cycles) ... 16 cycles) ... 6 cycles) 8 cycles) Average, peacetime cycles: 1854-1990 (25 cycles) 1854-1919 (14 cycles) 1919-1945 (5 cycles) 1945-1990 (6 cycles) 1. 31 cycles. 2.15 cycles. 3.9 cycles. 4. 26 cycles. 5. 13 cycles. 6. 7 cycles. NOTE.—Figures printed in bold italic are the wartime expansions (Civil War, World Wars I and II, Korean war, and Vietnam war), the postwar contractions, and the full cycles that include the wartime expansions. Source: National bureau of Economic Research, Inc., 1050 Massachusetts Avenue, Cambridge, MA 02138. 19 22 20 11 4 29 24 26 6 43 46 46 46 46 2 53 49 53 3 61 5 47 45 6 53 48 C-46 SURVEY O F CURRENT BUSINESS October 1991 Specific Peak and Trough Dates for Selected Indicators Specific peak dates corresponding to reference peaks in— Series Series title July 1981 Nov. 1973 Jan. 1980 Dec. 1969 Apr. 1960 Aug. 1957 2/69 4/69 11/68 (-1 5/59 —11 4/59 -12) 3/59 -13 2/59 -14 3/59 -13 11/58 -17 4/59 -12 11/58 i -17 7/59 H NST 2/60 6/59 -10) 4/59 < -12 11/55 9/55 7/55 4/55 11/56 2/55 1/56 8/55 7/56 1/56 11/56 12/55 5/55 July 1953 LEADING INDICATORS 3/79 9/78 12/78 4/79 3/79 6/78 12/78 5/79 NST 1/78 Average weekly hours, mfg Average weekly initial claims (inverted) Mfrs.' new orders in 1982 dollars, consumer goods and materials Vendor performance, slower deliveries diffusion index Contracts and orders for plant and equipment in 1982 dollars 940 Change in sensitive materials prices (smoothed') Index of stock prices, 500 common stocks Money supply M2 in 1932 dollars Index of consumer expectations Composite index of 11 leading indicators Ratio, coincident index to lagging index 11/76 10/78 4/78 -21] -25 -28 (-9 -30 -19 -24 -13 -19 (-9 -20 -27 10/52 COINCIDENT INDICATORS Employees on nonagricultural payrolls Persona! income less transfer payments in 1982 dollars Index of industrial production ..... ..... Mfg. and trade sales in 1982 dollars '.'. Composite index of 4 coincident indicators ... I.. 7/81 6V81 7/81 1/81 7/81 (0) (+1 "' H 3/80 (+2) 1/80 (0 3/80 (+2 3/79 (-10 1/80 (0) 10/74 (+11 11/73 (0 11/73 0 11/73 0 11/73 (0 3/70 NST 10769 10/69 3/57 8/57 3/57 2/57 2/57 4/60 (4/53 7/53 (-3) (0) LAGGING INDICATORS Average duration of unemployment (inverted) Ratio, mfg. and trade inventories to sales in 1982 dollars 62 Change in index of labor cost per unit of output, mfg. (smoothed'} Average prime rate charged by banks Commercial and industrial loans outstanding in 1982 dollars Ratio, consumer installment credit to personal income 120 Change in Consumer Price Index for services (smoothed l ) Composite index of 7 lagging indicators 9/81 7/79 6/80 6/80 4/80 3/80 11/79 6/80 4/80 Nov. 1982 July 1980 9/73 3/75 3/75 9/74 9/74 (-2) "' 4/74 10774 (+11J 12/74 +13 9/57 4/58 358 12/57 9/57 1/58 3/57 12/57 10/69 (-2) 11/70 (+11 1/70 (+1) 2/70 8/70 NST 4/70 (+4) 3/70 +3 Specific trough dates corresponding to reference troughs in— Mar. 1975 Nov. 1970 Feb. 1961 9/70 (-2) 10/70 (-1) 11/70 (0 12/70 (+1 10/70 (-1) 1/70 (-10 8/70 970 6/70 4/70 5770 10770 11/70 12/60 (-2 2/61 (0 2/61 (0 3/60 (-11 3/61 12/60 5/60 1/61 10/60 NST 11/60 4/60 2/61 Apr. 1958 May 1954 LEADING INDICATORS 940 Average weekly hours, mfg Average weekly initial claims (inverted) Mfrs.' new orders in 1982 dollars, consumer goods and materials Vendor performance, slower deliveries diffusion index Contracts and orders for plant and equipment in 1982 dollars Building permits, new private housing units Change in mfrs.1 unfilled orders in 1982 dollars, 1durable goods (smoothed1) Change in sensitive materials prices (smoothed ) Index of stock prices, 500 common stocks Money supply M2 in 1982 dollars Index of consumer expectations Composite index of 11 leading indicators Ratio, coincident index to lagging index COINCIDENT INDICATORS Employees on nonagricultural payrolls .... Personal income less transfer payments in 1982 dollars Index of industrial production Mfg. and trade sales in 1982 dollars 920 Composite index of 4 coincident indicators 12/82 3/82 12/82 10/82 12/82 2/61 12/60 2/61 1/61 2/61 +1) (0 (-2 (0 (-1 (0 LAGGING INDICATORS Average duration of unemployment (inverted) Ratio, mfg. and trade inventories to sales in 1982 dollars Change in index of labor cost per unit of output, mfg. (smoothed') Average prime rate charged by banks 101 Commercial and industrial bans outstanding in 1982 dollars 95 Ratio, consumer installment credit to personal income 120 Change in Consumer Price Index for services (smoothed') Composite index of 7 lagging indicators 7/83 ( ( 1/84 (+14 1/76 11/78 11/75 4/77 9/76 2/76 8/75 6/76 (+10) +44 (+8 (+25 +18 (+11 (+5 (+15 NOTE.—Specific peak and trough dates mark the cyclical turning points in individual series: reference peak and trough information on the selection of specific peaks and troughs, p p g dates mark the cyclical turning points in overall business activity. For the composite indexes and na. Not available. This n their components, c o p t s , this This indicates indicates that that data data necessary necessary to determine a turning point are not available. 5MM5 fitt ^XSS?R MS IfJESSS^ I- ™ " * * ™«« » « a ^ e s s r v e - m o ^ - a v e r a g e fitter dev^oped by Statsfcs Canada. 8/54 4/54 4/54 12/53 8/54 SURVEY OF CURRENT BUSINESS October 1991 C-47 TITLES AND SOURCES OF SERIES Series are listed below in numerical order within each of the two major groups. Series numbers are for identification only and do not reflect relationships or order among the series. "M" following a series title indicates monthly data; "Q" indicates quarterly data. Data apply to the whole period except when indicated by "EOM" (end of month) or "EOQ" (end of quarter). To save space, the commonly used sources listed below are referred to by number: Source 1—U.S. Department of Commerce, Bureau of Economic Analysis; Source 2—U.S. Department of Commerce, Bureau of the Census; Source 3—U.S. Department of Labor, Bureau of Labor Statistics; Source 4—Board of Governors of the Federal Reserve System. In parentheses following the source for each series is'a reference to the C-page(s) on which that series appears. References to data tables are in roman type; references to charts are in bold-italic type. 1. Cyclical Indicators 1. Average weekly hours of production or nonsupervisory workers, manufacturing (M).—Source 3 (2,9) 5. Average weekly initial claims for unemployment insurance, State programs (M).— U.S. Department of Labor, Employment and Training Administration; seasonal adjustment by Bureau of Economic Analysis (2,9) 7. Manufacturers' new orders in 1982 dollars, durable goods industries (M).—Sources 1,2, and 3 (2,75) 8. Manufacturers' new orders in 1982 dollars, consumer goods and materials industries (M).—Sources 1, 2, and 3 (2,9) 9. Construction contracts awarded for commercial and industrial buildings, floor space (M).—McGraw-Hill Information Systems Company; seasonal adjustment by Bureau of Economic Analysis (Used by permission. This series may not be reproduced without written permission from the source.) (2,16) 10. Contracts and orders for plant and equipment in current dollars (M).—Sources 1, 2, and McGraw-Hill Information Systems Company (2) 11. Newly approved capital appropriations, 1,000 manufacturing corporations (Q).— The Conference Board (2) 12. Index of net business formation (M).—Source 1 and Dun & Bradstreet, Inc. (2,16) 13. Number of new business incorporations (M).—Dun & Bradstreet, Inc.; seasonal adjustment by Bureau of Economic Analysis (2,16) 14. Current liabilities of business failures (M).—Dun & Bradstreet, Inc. (4) 16. Corporate profits after tax in current dollars (Q).—Source 1 0,19) 18. Corporate profits after tax in 1982 dollars (Q).—Source 1 (2,19) 19. Index of stock prices, 500 common stocks (M).—Standard & Poor's Corporation (3,5,10,24) 20. Contracts and orders for plant and equipment in 1982 dollars (M).—Sources 1, 2, and McGraw-Hill Information Systems Company (2,9) 21. Average weekly overtime hours of production or nonsupervisory workers, manufacturing (M).—Source 3 (2,13) 22. Ratio, corporate domestic profits after tax to total corporate domestic income (Q).— Source 1 (3,70) 23. Index of spot market prices, raw industrial materials (M).—Sources 1, 3, and Commodity Research Bureau, Inc. (Used by permission. From June 1981 forward, this series may not be reproduced without written permission from Commodity Research Bureau, Inc.) (3,79) 26. Ratio, implicit price deflator to unit labor cost, all persons, nonfarm business sector (Q).—Sources 1 and 3 (3,19) 27. Manufacturers' new orders in 1982 dollars, nondefense capital goods industries (M).—Sources 1, 2, and 3 (2,16) 28. New private housing units started (M).—Source 2 OJ8) 29. Index of new private housing units authorized by local building permits (M).— Sources 1 and 2 (3,10) 30. Change in business inventories in 1982 dollars (Q).—Source 1 (3,78) 31. Change in manufacturing and trade inventories (M).—Sources 1 and 2 (3,75) 32. Vendor performance, slower deliveries diffusion index (M).—National Association of Purchasing Management and Purchasing Management Association of Chicago; seasonal adjustment by U.S. Department of Commerce, Office of the Chief Economist (2,9) $5. Corporate net cash flow in 1982 dollars (Q).—Source 1 (3) 37. Number of persons unemployed (M).—Source 3 (2) 39. Percent of consumer installment loans delinquent 30 days and over (EOM).— American Bankers Association (4) 40. Employees on nonagricultural payrolls, goods-producing industries (M).—Source 3 (2./5) 41. Employees on nonagricultural payrolls (M).—Source 3 (2,77) 42. Number of persons engaged in nonagricultural activities (M).—Source 3 (2) 43. Civilian unemployment rate (M).—Source 3 (2,73) 44. Unemployment rate, persons unemployed 15 weeks and over (M).—Source 3 (2) 45. Average weekly insured unemployment rate, State programs (M).—Source 1 and U.S. Department of Labor, Employment and Training Administration (2) 46. Index of help-wanted advertising in newspapers (M).—The Conference Board (2,75) 47. 48. 49. 50. 51. 52. 53. 57. 58. 59. 60. 61. 62. 63. 66. 69. 70. 72. 73. 74. 75. 76. 77. 81. 82. 83. 85. 86. 87. 88. 89. 90. 91. 92. 93. 94. 95. 97. 98. 99. Index of industrial production (M).—Source 4 (2,5,77,25) Employee hours in nonagricultural establishments (M).—Source 3 (2,75) Value of goods output in 1982 dollars (Q).—Source 1 (2) Gross national product in 1982 dollars (Q).—Source 1 (2,14) Personal income less transfer payments in 1982 dollars (M).—Source 1 (2,77) Personal income in 1982 dollars (M).—Source 1 (2) Wages and salaries in 1982 dollars, mining, manufacturing, and construction (M).— Sources 1 and 3 (2,14) Manufacturing and trade sales in 1982 dollars (M).—Sources 1 and 3 (2,77) Index of consumer sentiment (Q,M).—University of Michigan, Survey Research Center (Used by permission. This series may not be reproduced without written permission from the source.) (2) Sales of retail stores in 1982 dollars (M).—Sources 1 and 2 (2,75) Ratio, help-wanted advertising in newspapers to number of persons unemployed (M).—Sources 1, 3, and The Conference Board (2) New plant and equipment expenditures by business in current dollars (Q).—Source 2(3) Change in index of labor cost per unit of output, manufacturing, smoothed (M).— Sources 1 and 4 (3,72) Index of unit labor cost, all persons, business sector (Q).—Source 3 (3) Consumer installment credit outstanding (EOM).—Source 4 (4) Manufacturers' machinery and equipment sales and business construction expenditures (M).—Sources t and 2 (3,77) Manufacturing and trade inventories in 1982 dollars (EOM).—Sources 1 and 2 (3) Commercial and industrial loans outstanding in current dollars (M).—Sources 1, 4, and The Federal Reserve Bank of New York (4) Index of industrial production, durable manufactures (M).—Source 4 (2,14) Index of industrial production, nondurable manufactures (M).—Source 4 (2,74) Index of industrial production, consumer goods (M).—Source 4 (2,75) Index of industrial production, business equipment (M).—Source 4 (3,77) Ratio, manufacturing and trade inventories to sales in 1982 dollars (M).—Sources 1 and 2 (3,72) Ratio, corporate domestic profits after tax with inventory valuation and capital consumption adjustments to total corporate domestic income (Q).—Source 1 (3t 19) Capacity utilization rate, manufacturing (M).—Source 4 (2,14) Index of consumer expectations (Q,M).—University of Michigan, Survey Research Center (Used by permission. This series may not be reproduced without written permission from the source.) (2,10) Change in money supply Ml (M).—Sources 1 and 4 (4,20) Gross private nonresidential fixed investment in 1982 dollars (Q).—Source 4 (3,77) Gross private nonresidential fixed investment in 1982 dollars, structures (Q).— Source 1 (3,77) Gross private nonresidential fixed investment in 1982 dollars, producers' durable equipment (Q).—Source 1 (3,77) Gross private residential fixed investment in 1982 dollars (Q).—Source 1 (3,18) Ratio, civilian employment to population of working age (M).—Source 3 (2,73) Average duration of unemployment in weeks (M).—Source 3 (2,72) Change in manufacturers' unfilled orders in 1982 dollars, durable goods industries, smoothed (M).—Sources 1, 2, and 3 (2,70) Free reserves (M).—Sources I and 4 (4) Member bank borrowings from the Federal Reserve (M).—Source 4 (4) Ratio, consumer installment credit outstanding to personal income (M).—Sources 1 and 4(4,72) Backlog of capital appropriations, 1,000 manufacturing corporations (EOQ).—The Conference Board (2) Index of producer prices for sensitive crude and intermediate materials (M).— Sources 1 and 3 (3) Change in sensitive materials prices, smoothed (M).—Sources 1, 3, and Commodity Research Bureau, Inc. (3,70) C-48 SURVEY OF CURRENT BUSINESS 100. New plant and equipment expenditures by business in 1982 dollars (Q).—Source 2 (3,77) 101. Commercial and industrial loans outstanding in 1982 dollars (M).—Sources 1, 3, 4, and The Federal Reserve Bank of New York (4,12) 102. Change in money supply M2 (M).—Sources 1 and 4 (4,20) 105. Money supply Ml in 1982 dollars (M).—Sources 1, 3, and 4 (4) 106. Money supply M2 in 1982 dollars (M).—Sources 1, 3, and 4 (4,10) 107. Ratio, gross national product to money supply Ml (Q).—Sources 1 and 4 (4) 108. Ratio, personal income to money supply M2 (M).—Sources 1 and 4 (4) 109. Average prime rate charged by banks (M).—Source 4 (4,72) 110. Funds raised by private nonfinancial borrowers in credit markets (Q).—Source 4 (4,20) HI. Change in business and consumer credit outstanding (M).—Sources 1, 4, Federal Home Loan Bank Board, and The Federal Reserve Bank of New York (4) 112. Net change in business loans (M).—Sources 1, 4, and The Federal Reserve Bank of New York (4,20) 113. Net change in consumer installment credit (M).—Sources 1 and 4 (4,20) 114. Discount rate on new issues of 91-day Treasury bills (M).—Source 4 (4,2/) 115. Yield on long-term Treasury bonds (M).—U.S. Department of the Treasury (4,2/) 116. Yield on new issues of high-grade corporate bonds (M).—Citibank and U.S. Department of the Treasury (4,2/) 117. Yield on municipal bonds, 20-bond average (M).—The Bond Buyer (4) 118. Secondary market yields on FHA mortgages (M).—U.S. Department of Housing and Urban Development, Federal Housing Administration (4) 119. Federal funds rate (M).—Source 4 (4,2/) 120. Change in Consumer Price Index for services, smoothed (M).—Sources 1 and 2 0,12) 122. Index of consumer confidence (M).—The Conference Board (2) 123. Index of consumer expectations (M).—The Conference Board (2,/J) 124. Capacity utilization rate, total industry (M).—Source 4 (2) 910. Composite index of 11 leading indicators (includes series 1, 5, 8, 19, 20, 29, 32, 83, 92, 99, 106) <M).—Source 1 (1,7,5) 920. Composite index of 4 coincident indicators (includes series 41,47,51, 57) (M).—Source 1 (Ut8) 930. Composite index of 7 lagging indicators (includes series 62, 77, 91.95,101, 109, 120) (M).—Source 1 (1,7,5) 940. Ratio, coincident composite index (series 920) to lagging composite index (series 930) (M).—Source 1 (1,7) 950. Diffusion index of 11 leading indicator components (M).—Source 1 (1,8) 951. Diffusion index of 4 coincident indicator components (M).—Source 1 (1,8) 952. Diffusion index of 7 lagging indicator components (M).—Source 1 (lt8) 963. Diffusion index of employees on private nonagricultural payrolls, 356 industries (M).—Source 3 (2) 990. CIBCR long-leading composite index . (M).—Columbia University, Center for International Business Cycle Research (4,2/) 991. CIBCR short-leading composite index (M).—Columbia University, Center for International Business Cycle Research (4,2/) 2. Other Important Economic Measures 290. 292. 293. 295. 298. Gross saving (Q).—Source 1 (4) Personal saving (Q).—Source 1 (4) Personal saving rate (Q).—Source 1 (4,22) Business saving (Q).—Source 1 (4) Government surplus or deficit (Q).—Source 1 (4,22) 310. 311. 320. 323. Implicit price deflator for gross national product (Q).—Source 1 (4) Fixed-weighted price index, gross domestic business product (Q).—Source 1 (4,22) Consumer Price Index for all urban consumers, all items (M).—Source 3 (4,5,22,23) Consumer Price Index for all urban consumers, all items less food and energy (M).— Source 3 (4,22) Producer Price Index, crude materials for further processing (M).—Source 3 (4,22) Producer Price Index, intermediate materials, supplies, and components (M).— Source 3 (4,22) Producer Price Index, capital equipment (M).—Source 3 (4,22) Producer Price Index, finished consumer goods (M).—Source 3 (4,22) Producer Price Index, finished goods (M).—Source 3 (4,22) Producer Price Index, finished goods less foods and energy (M).—Source 3 (4,22) Index of average hourly compensation, all employees, nonfarm business sector (Q).— Source 3 (5) Index of real average hourly compensation, all employees, nonfarm business sector (Q).—Source 3 (5) Index of output per hour, all persons, nonfarm business sector (Q).—Source 3 (5) Index of output per hour, all persons, business sector (Q).—Source 3 (5.22) 331. 332. 333. 334. 336. 337. 345. 346. 358. 370. 441. 442. 451. 452. 453. Civilian Civilian Civilian Civilian Civilian October 1991 labor force (M).—Source 3 (5) employment (M).—Source 3 (5) labor force participation rate, males 20 years and over (M).—Source 3 (5) labor force participation rate, females 20 years and over (M).—Source 3 (5) labor force participation rate, both sexes 16-19 years of age (M>—Source 3(5) 517. Defense Department gross obligations incurred (M).—U.S. Department of Defense, Office of the Assistant Secretary of Defense (Comptroller), Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis (5) 525. Defense Department prime contract awards for work performed in the United States (M).—U.S. Department of Defense, Office of the Assistant Secretary of Defense (Comptroller), Washington Headquarters Services, Directorate for Information Operations and Reports; seasonal adjustment by Bureau of Economic Analysis (5) 543. Defense Department gross unpaid obligations outstanding (EOM).—U.S. Department of Defense, Office of the Assistant Secretary of Defense (Comptroller), Directorate for Program and Financial Control; seasonal adjustment by Bureau of Economic Analysis (5) 548. Manufacturers' new orders, defense products (M).—Source 2 (5) 557. Index of industrial production, defense and space equipment (M).—Source 4 (5) 564. Federal Government purchases of goods and services, national defense (Q).—Source 1 (5,22) 570. Employment, defense products industries (M).—Source 3; seasonal adjustment by Bureau of Economic Analysis (5) 602. Exports, excluding military aid shipments (M).—Source 2 (5) 604. Exports of domestic agricultural products (M).—Source 2; seasonal adjustment by Bureau of Economic Analysis (5) 606. Exports of nonelectrical machinery (M).—Source 2; seasonal adjustment by Bureau of Economic Analysis (5) 612. General imports (M).—Source 2 (5) 614. Imports of petroleum and petroleum products (M).—Source 2; seasonal adjustment by Bureau of Economic Analysis (5) 616. Imports of automobiles and parts (M).—Source 2; seasonal adjustment by Bureau of Economic Analysis (5) 618. Merchandise exports, adjusted, excluding military (Q).—Source 1 (5,22) 620. Merchandise imports, adjusted, excluding military (Q).—Source 1 (5,22) 622. Balance on merchandise trade (Q).—Source 1 (5) 721. Organisation for Economic Co-operation and Development, European countries, index of industrial production (M).—Organisation for Economic Co-operation and Development (Paris) (5,23) 111. United Kingdom, index of industrial production (M).—Central Statistical Office (London) (5,23) 723. Canada, index of industrial production (M).—Statistics Canada (Ottawa) (5,23) 725. Federal Republic of Germany, index of industrial production (M).—Statistisches Bundesamt (Wiesbaden) (5,23) 726. France, index of industrial production (M).—Institut National de la Statistique et des Etudes Economiques (Paris) (5,23) 727. Italy, index of industrial production (M).—Istituto Centrale di Statistica (Rome) (5,23) 728. Japan, index of industrial production (M).—Ministry of International Trade and Industry (Tokyo) (5,23) 732. United Kingdom, consumer price index (M).—Department of Employment (London); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 733. Canada, consumer price index (M).—Statistics Canada (Ottawa); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 735. Federal Republic of Germany, consumer price index (M).—Statistisches Bundesamt (Wiesbaden); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 736. France, consumer price index (M).—Institut National de la Statistique et des Etudes Economiques (Paris); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 737. Italy, consumer price index (M).—Istituto Centrale di Statistica (Rome); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 738. Japan, consumer price index (M).—Bureau of Statistics, Office of the Prime Minister (Tokyo); percent changes seasonally adjusted by Bureau of Economic Analysis (5,23) 742. United Kingdom, index of stock prices (M).—Central Statistical Office (London) (5,24) 743. Canada, index of stock prices (M).—Toronto Stock Exchange (Toronto) (5,24) 745. Federal Republic of Germany, index of stock prices (M).—Statistisches Bundesamt (Wiesbaden) (5,24) 746. France, index of stock prices (M).—Institut National de la Statistique et des Etudes Economiques (Paris) (5,24) 747. Italy, index of stock prices (M).—Banca d'ltalia (Rome) (5,24) 748. Japan, index of stock prices (M).—Bank of Japan (Tokyo) (5,24) 750. Index of weighted-average exchange value of U.S. dollar against currencies of 10 industrial countries (M).—Source 4 (5,24) 752. United Kingdom, exchange rate per U.S. dollar (M).--Sources 1 and 4 (5,24) 753. Canada, exchange rate per U.S. dollar (M).—Source 4 (5,24) 755. Federal Republic of Germany, exchange rate per U.S. dollar (M).—Source 4 (5,24) 756. France, exchange rate per U.S. dollar (M).—Source 4 (5,24) 757. Italy, exchange rate per U.S. dollar (M).—Source 4 (5,24) 758. Japan, exchange rate per U.S. dollar (M).—Source 4 (5,24) CURRENT BUSINESS STATISTICS New features in this issue: The "Foreign Trade" section now includes the merchandise trade balance, exports and imports in constant 1987 dollars, and export and import price indexes. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are provided through the courtesy of the compilers and are subject to their copyrights. Current data for the series shown in the S-pages are available on diskette on a subscription basis orfromthe Commerce Department's Economic Bulletin Board. Historical data, data sources, and methodological notes for each series are published in BUSINESS STATISTICS, 1961-88. For more information, write to Business Statistics Branch, Current Business Analysis Division (BE-53), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230. NOTE.—This section of the SURVEY is prepared by the Business Statistics Branch. Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, Annual 1990 1989 Aug. | Sept Jan. | Feb. | Mar. | Apr. | May | June | July | Aug. | Sept. GENERAL BUSINESS INDICATORS PERSONAL INCOME BY SOURCE 1 [Billions of dollars] Seasonally adjusted, at annual rates Total personal income ... . „ 4,384.3 4,645.5 4,675.0 4,697.8 4,695.9 4,7162 4,743.3 4,723.8 4,733.3 4,750.4 4,755.8 4,787.3 4,811.0 '4,802.6 4,823.8 4,846.7 2.5732 720.6 541.8 604.7 771.4 476.6 241.9 2,705.3 729.3 546.8 6372 830.8 508.0 258.1 2,728.3 734.4 551.4 639.6 843.3 511.0 260.0 2,7472 736.0 552.1 644.9 852.8 513.5 2612 2,731.6 730.4 5495 638.6 846.8 515.8 2622 2,731.6 721.0 541.1 G41.7 850.8 518.1 2632 2.753.6 726.5 547.8 645.3 861.3 520.5 2642 2,741.0 716.4 5402 639.7 857.9 2652 2,741.9 713.0 535.8 639.2 859.6 530.0 2662 2,745.6 709.4 534.0 640.3 863.5 532.4 2672 2,7502 710.7 536.8 639.7 866.6 5332 2682 2.772.6 7155 5412 644.7 877.0 535.0 2692 2,799.4 721.0 545.9 652.4 8895 5365 2702 '2,790.7 '721.9 '547.4 '646.0 '683.4 '539.4 2712 '2,803.6 '726.3 '551.5 '648.3 '889.7 '539.4 2722 2,815.7 725.2 550.4 652.1 8932 5402 273.2 48.6 330.7 49.9 352.6 42.9 356.6 38.5 357.0 39.1 357.1 54.5 357.6 52.9 357.5 39.6 353.8 47.2 356.3 58.7 357.4 53.5 360.9 542 365.8 47.7 3685 43.5 '371.1 '42.4 '374.7 43.7 379.7 1144 6432 6369 212^8 4,314.6 8.2 6.9 1238 680.4 6948 2262 4,574.3 9.1 1250 685.4 695.9 2282 10.8 1261 687.5 710.0 228.4 8.8 B.3 1272 6882 7212 2295 4,668.8 6.8 1272 685.7 741 6 2372 4,662.6 5.1 1276 681.8 7445 2372 4,664.4 5.5 1256 674.1 759.7 239.3 4,711.1 1257 672.5 7621 2411 4,741.3 '62 1263 '670.8 '764.3 241.4 '4,737.0 '72 4,669.9 5.0 1252 676.2 7545 237.8 4,680.4 5.6 4,635.3 1268 638.1 714 0 228.4 4,6402 4.9 125 3 678.6 750.1 2374 4,610.7 10.0 125 3 686.8 7012 229.5 4,637.8 1267 '669.4 '7700 '242 3 '4,759.4 95 1272 668.1 772.8 243 0 4,780.9 4,384.3 658.8 3,725.5 3 553 7 3,450.1 474.6 1,130.0 1,845.5 1022 1.4 4,645.5 699.4 3,946.1 3,765 0 3,657!3 4803 1,193.7 19833 1018 .9 4,675.0 708.6 3,966.4 3801 4 3,69£1 4755 1,208.1 2,0082 108.0 1.3 4,697.8 715.0 3,982.8 3,832.6 3.723.4 4882 12H.8 2020 5 't075 1.3 4,695.9 713.8 3,982.1 3829 5 3,'720.5 4746 12162 2029 8 108.0 1.0 4,7162 715.1 4,0011 3,835 0 3,725.6 468.7 1219.3 20376 'ioa!4 1.0 4,743.3 720.8 4,022.5 3 838.6 4622 1212.5 20539 109.0 1.0 4,723.8 714.9 4,0089 3,8177 3,707.8 440.3 1205.8 2061 7 '108.7 12 4,733.3 713.9 4,019.4 3349.6 3,739.9 453.5 1215.3 2,071 2 108.5 12 4,750.4 7145 4,035.5 3B903 3!780.7 472.2 1217.0 2091 5 108.5 12 4,755.8 715.6 4,040.3 3,872.0 3,762.6 450.0 1212.3 2100.4 108.3 1.1 4,787.3 716.4 4,070.8 3,9015 3,793.0 4435 1228.0 21161 107.9 1.1 4,811.0 717.7 4.093.3 3,920.0 3,811.6 4622 12245 2,124.5 107.4 1.1 '4302.6 '714.4 '4,088.2 '3537.7 '3,829.3 '4715 '1229.7 '2127.7 '107.0 '1.4 4,823.8 '716.0 '4,107.8 '39396 '3,831.5 '461.3 '12295 '2,140.7 '106.7 '1.4 4,846.7 719.6 4,127.1 3.972.E 3,8647 469-0 1,229.4 21663 106.4 1.4 Equals* personal saving . .. .... Personal saving as percentage of disposable personal income § 1718 4.6 1801 4.6 1650 42 1502 35 1525 3.9 1661 42 1839 45 191.3 45 1698 42 145.1 4.0 168.3 4.0 1689 42 173.3 4.0 '1506 '4.0 '1682 3.8 154.5 Disposable personal income in constant (1932) dollars Personal consumption expenditures in constant (1982) dollars ... Durable goods _......._. Nondurable goods .............. Services . .... Implicit price deflator for personal consumption expenditures, 1982-100 2,869.0 2,656.8 428.0 919.9 T,309.0 2,8935 2,681.6 427.4 911.1 1,343.1 2,896.8 2,696.5 424.1 920.9 t,3515 2,886.6 2,698.8 434.0 911.6 1,3532 2,863.7 2,675.6 420.5 903.8 1,351.3 2,869.9 2,672.3 415.8 903.4 1,353.1 2,883.5 2,672.8 410.5 8965 1,365.8 2,857.8 2,643.1 391.6 890.6 1,360.8 2,858.9 2,660.1 4005 898.1 1,361.1 2,8692 2,688.0 416.3 902.5 1,369.3 2,8655 2,669.0 393.6 8972 1,3732 2,8765 2.680.6 397.1 907.1 1,376.4 2,390.9 2,691.9 4085 9022 1,381.3 '2.888.0 '2J05.1 '414.4 '911.0 '1,379.7 '2,8925 '2,698.0 '405.5 '908 3 '1,3842 2.897.0 2,7125 411.3 906.8 1,394.8 129.9 136.4 136.9 138.0 139.1 139.4 139.5 140.3 140.6 140.6 141.0 1415 141.6 141.6 '142.0 1425 108.1 1092 112.7 113.5 111.3 107.7 105.3 105.1 106.1 1042 104.4 104.7 1092 106.6 '110.4 '1112 103.1 1295 103.1 104.5 1012 105.0 120.7 104.9 106.1 103.4 102.3 109.6 103.9 104.9 102.5 1002 100.0 1052 106.1 104.1 98.5 97.9 105.8 106.4 105.2 '100.9 106.8 ' 110.3 '109.6 '111.1 '98.1 '110.4 '107. 1052 '109.6 '1005 '110. '111. '109. '114. '99.8 '1052 "112.8 '111.3 '114.6 107.3 103.0 '108. '108.1 '103 '110. 108. '109.0 '110.6 '109.1 Wage and salary disbursements total Commodity-producing industries total Manufacturing .... Distributive industries Served industries .. G o v t and govt. enterprises Other labor income .... 527.0 Proprietors' income: $ Farm Norifarm ......... Rental income of persons with capital consumption adjustment.. ........... . . ....... Dividends Personal interest income Transfer payments Less 1 Personal contributions for social insurance . Total nonfarm income DISPOSITION OF PERSONAL INCOME t [Billions of dollars, unless otherwise indicated] Seasonally adjusted, at annual rates: Total personal income .. Less.* Personal tax and nontax payments Equals* Disposable personal income Less* Personal outlays ., ....... Personal consumption expenditures Durable goods „ Nondurable goods ...» Services . . Interest paid by consumers to business „. ........... ......... - 1 — Personal transfer payments to foreigners (net) tim.7 INDUSTRIAL PRODUCTION 0 [1987*100] Not seasonally adjusted: Total index By industry groups: Mining Utilities Manufacturing Durable .... Nondurable 100.5 107.0 108.9 110.9 106.4 102.6 108.0 109.9 111.6 107.8 101.6 108.9 114.0 114.4 113.6 103.1 1062 115.1 116.1 113.9 103.7 965 113.3 114.6 111.7 106.0 1012 108.5 109.8 106.9 104.7 116.6 104.4 105.6 102.8 . 108.1 1092 110.5 110.6 109.9 108.3 1072 106.6 105.7 105.0 1055 106.4 ~— 108.6 109.1 106.7 110.1 1103 107.3 1109 111.9 107.8 111 4 1^6 108.7 111 0 112.3 108.6 1093 1102 106.5 1084 1092 105.7 1073 109.1 105.6 1065 108.3 104.7 1065 108.1 104.7 1065 108.7 105.5 1077 109.3 106.6 ~ . ~ - Seasonally adjusted: Total index „„ By market groups: Products total Consumer goods „- •«... • .......„„„.„„.„... 108 110. '108. 108 '110. '108. See lookiotes at end ot tables. S-l SURVEY OF CURRENT BUSINESS S-2 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS. 1K1-W 19S9 | October 1991 1991 1990 1990 Aug. Sept. | Oct. | Nov. [ Dec Jan. | Feb. Mar. Apr. | May | June July Aug. | Sept. GENERAL BUSINESS INDICATORS-Continued INDUSTRIAL PRODUCTION Q-Continued (1987.100J Seasonally adjusted—Continued By market groups—Continued Final products—Continued Consumer goods—Continued 107.9 1065 105. 108.8 106; 1022 972 109.3 107. 104.6 101.5 109.6 110> 111.8 113.0 109.3 1069 1071 107.5 106.8 994 915 84.2 104.1 96.0 867 74.6 103.4 97.6 903 79.6 1032 952 8&1 74.7 100.7 959 883 767 101.4 993 942 85.0 103.4 101 1 974 892 104.1 1042 '100.4 92.5 '107,3 '1061 M032 98.1 '108.3 r 1042 '99.0 90.2 '108.3 '1082 ' 106.6 ' 103.0 '109.4 106.4 1042 ' 101.6 109.5 114,3 106.7 107.6 105.9 95.7 113.2 119.6 105.9 107.9 105.7 94.6 114.3 119.3 109.0 1082 105.3 95.3 115.1 121.9 108.0 109.1 106.7 942 115.9 123.4 108.8 108.5 107.8 91.7 113.5 122.8 106.4 108.4 107.5 92.1 113.5 122.7 106.6 107.8 106.3 90.6 114.7 122.1 106.5 107.3 105.9 90.8 114.8 121.0 105.2 107.1 105.4 90.4 1142 1222 105.5 1072 105.3 90.6 115.0 122.7 104.4 108.1 1062 92.0 113.9 121.8 109.0 109.0 '106.9 93.9 '114.3 '123.3 '110.0 '108.9 '106.8 '945 '114.8 '122.1 '109.4 '109.6 '1072 '95.4 '115.7 '123.5 '109.9 /-109.-4 '107.0 '95.8 '116.0 '124.7 "107.4 112.3 119.1 121.7 137.2 113.8 1231 1033 115.5 123.0 127.2 149.6 1152 130 ( 96.7 1172 125.4 128.5 152.2 117.9 135' 101.5 117.8 126.4 129.5 153.6 117.4 140.5 11t!o 117.0 125.4 130.1 155.3 115.4 1375 1065 115.1 122.9 128.8 149.6 115.3 126 3 83'S 113.6 1212 127.5 148.9 112.3 123 4 75^3 113.6 121.6 130.1 155.0 111.5 124 0 79^8 112.9 120.6 131.6 157.3 109.1 120' 75^0 112.5 120.3 1312 155.1 109.5 1204 767 112.8 121.3 131.5 155.6 109.3 1241 844 1127 1217 131.8 155.6 109.3 1253 87.9 '112.8 '121.9 130.9 154.0 109.1 1280 9o!e 112.9 '122.6 '131.1 156.0 '109.4 '1312 96.6 '112.0 '121.8 '130.8 '154.1 '109.2 '1270 86.2 '112.4 '122.9 '131.2 '155.0 '109.1 '1334 '992 97.4 93.7 92.3 97.3 109.3 90.6 97.7 106.9 93.4 97.3 107.4 91.8 97.3 107.1 89.0 962 109.7 87.3 95.8 107.3 83.4 94.4 106.4 83.1 94.5 1082 77.3 93.9 107.7 79.3 92.5 105.1 83.1 91.5 101.3 86.6 91.0 103.0 90.8 '902 97.8 865 '89.9 86.7 '90.3 '692 '80.1 '91.1 106.8 106.1 107.3 107.7 1052 109.4 107.9 105.3 109.7 107.4 103.8 109.9 107.0 103.1 109.7 106.2 101.8 109.2 106.0 101.0 109.4 103.6 97.7 108.1 102.6 96.4 106.8 101.3 94.0 106.4 1012 94.9 105.6 1027 95.8 107.5 '104.0 97.4 '108.5 '104.0 '971 '108.8 '104.5 '97.7 '1092 '104.1 '98.2 '108.3 107.4 111.6 105.3 101.3 107.8 111.8 106.0 102.1 109.7 114.9 106.8 103.0 109.4 114.1 106.9 103.0 108.3 112.5 106.5 102.3 106.8 110.4 105.6 101.6 105.3 107.5 104.9 102.0 104.8 106.8 104.9 101.1 103.9 105.5 103.6 101.1 102.6 103.3 102.8 101.3 103.4 104.9 103.1 101.1 104.5 1062 103.7 102.4 105.4 106.7 104.9 '103.4 "106.9 108.1 '107.5 '104.1 '1070 '108.9 "106.8 ' 103.6 '106.8 '109.3 '106.9 '102.3 100.5 141.4 1057 955 91.4 102.7 113.9 1025 152.8 1134 95^5 87.5 104.6 119.3 1024 155.7 1102 95.8 87.6 105.4 120.1 1039 163.6 1168 953 86.8 105.7 121.7 1026 1463 1147 1034 16Z0 1106 967 90.5 103.4 118.9 101.7 1411 1084 9^0 89.9 101.8 119.2 102.9 14&0 1128 972 89.0 106.4 112.0 101 5 147.6 1099 964 88.4 104.9 108.0 1009 1457 1059 963 68.7 106.3 107.0 1002 148.0 1034 96.0 87.6 107.5 1075 102.1 '1570 1102 96.9 87.6 110.1 '106.4 '102.7 "1545 118 0 '964 '88.3 '109.0 "107.8 '101 5 '1575 '1123 "953 87.9 108.8 '108.0 '1005 '158.0 '112.1 '94*.O 87.5 104.8 118.0 1033 1534 1129 97.3 89.0 106.5 113.5 „ 107.0 108.1 103.0 108.0 110.8 97.7 111.4 113.6 103.3 110.3 112.9 100.9 1092 112.1 98.1 106.9 109.6 97.0 108.8 111.8 97.6 107.6 110.4 97.5 104.6 107.8 92.8 106.4 109.8 93.6 105.9 109.8 91.6 111.4 116.4 92.8 1115 '117.1 '90.7 '1105 '116.6 '89.7 '111.3 '117.1 '90.0 '108.5 '113.6 '89.5 Durable Automotive products Autos and trucks Other durable goods Nondurable Foods and tobacco Clothing Chemical products Paper products Energy products ... Equipment, total Business equipment . Information processing and related Office and computing machines . Industrial Transit.. Autos and trucks Defense and space equipment Oil and gas well drilling „ Manufactured homes Intermediate products Construction supplies Business suppl.es Materials Durable ... Nondurable Energy .... By industry groups: Mining Metal mining Coal Oi! and gas extraction # Crude oil Natural gas Stone and earth minerals Utilities „ Electric ! Gas "'"_ Manufacturing 953 '108.0 „... 108.9 109.9 111.1 1112 110.7 108.9 107.5 107.0 106.1 1052 105.9 106.6 '1075 '108.3 '108.3 '108.8 Durable > Umber and products _ Furniture and fixtures Clay, glass, and stone products Primary meals .. Iron and steel Nonferrous .... Fabricated metal products Nonelectrical machnery Electrical machinery Transportation equipment _ Motor vehicles and parts _ Instruments - 110.9 103.1 105.3 108.0 1092 109.3 109.0 107.2 121.8 109.5 1072 104.9 116.4 111.6 101.1 105.9 105.8 1082 109.7 106.1 105.8 126.5 111.4 105.5 96.8 116.9 113.5 100.5 106.7 106.6 114.6 118.3 109.4 107.9 128.8 112.5 107.9 101.0 117.5 113.8 100.3 106.9 104.5 111.6 113.9 108.4 106.8 128.5 112.5 111.1 107.5 118.4 112.5 982 104.4 104.4 108.6 110.3 1062 106.4 128.1 110.8 1092 103.8 118.1 109.9 95.5 102.3 103.8 109.1 112.6 104.1 104.3 126.3 110.4 100.1 85.8 118.1 107.5 93.5 102.0 100.7 1042 107.3 99.8 101.9 124.7 108.7 96.6 78.5 117.3 1072 942 99.0 99.7 99.0 100.6 101.7 125.5 107.6 97.6 83.0 119.0 106.1 91.5 94.9 98.9 99.5 98.0 101.6 99.1 124.5 108.2 95.5 79.4 119.3 105.0 912 95.4 94.4 947 92.0 98.4 97.8 123.1 108.6 95.0 79.8 118.4 106.0 9Z7 98.3 942 94.5 91.6 98.5 98.0 1235 109.7 972 862 118.6 106.7 92.5 98.5 95.1 96.9 94.0 101.0 99.1 123.6 110.6 982 89.8 118.2 '107.3 '96.7 '99.4 '95.0 '96.4 '92.9 '101.5 99.8 '123.4 111.5 997 925 117J '108.1 '94.6 '100.5 '95.6 "1012 '99.5 '103.5 MOOS '124.1 '111.0 "101.4 '967 '116.5 '108.0 '96.1 '100.8 '962 '102.5 '1002 '1057 '101.3 '124.0 '111.7 '985 '91.6 '117.0 '108.9 '96.5 '100.8 '96.8 '102.5 '100.6 '105.3 '101.8 '124.0 '1113 '102.2 '99.1 '117.9 Nondurable _ . Foods Tobacco products Textile mill products Apparel products Paper and products Printing and publishing Chemicals and products Petroleum products Rubber and piastre products Leather and products - 106.4 105.5 99.6 101.9 104.3 1032 108.5 108.5 106.1 108.9 103J 107.8 107.6 98.7 100.7 98.8 105.4 112.0 110.1 108.3 110.2 99.9 108.1 107.7 96.3 100.4 98.8 106.5 110.9 111.1 1102 11Z0 99.6 108.0 107.6 96.4 100.7 98.4 107.5 111.6 110.9 109.3 110.3 100.3 108.4 108.8 97.8 1012 972 106.8 112.9 110.7 108.6 110.6 95.3 1077 109.6 99.0 97.4 95.5 105.1 112.4 110.0 107.8 109.6 89.9 107.4 109.1 101.1 96.1 94.9 105.4 112.8 109.9 105.6 106.9 92.6 106.8 108.3 100.0 94.0 929 1042 112.1 110.1 104.7 108.8 89.6 106.0 107.6 100.1 94.3 93.1 1022 110.9 109.1 108.8 106.1 90.8 105.4 107.4 982 95.4 92.5 101.3 110.4 1082 108.5 104.4 91.5 105.9 107.6 97.6 93.2 101.3 1107 109.0 105.7 106.6 90.0 106.5 107.8 987 992 952 101.3 110.6 109.2 107.5 1092 895 '107.6 '108.6 '99.4 '101.7 962 105.3 '1112 "109.6 109.6 1105 90.9 '108.5 '108.4 '100.4 M04.3 "97.8 '108.1 '111.6 '110.8 108.3 "1112 92.3 '108.7 "109.1 '98.6 '104.3 '98.8 '106.6 '111.9 '1112 '108.1 '111.9 '90.0 '108.7 '108.6 '978 '104.4 '98.9 '1070 '111.7 '111.5 '1092 '1122 '89.9 565,322 554,011 573.259 549.639 556,219 485,259 491,129 532,805 531,115 551,778 551,353 '520,634 551,546 '554,180 '550,143 555,145 546,714 534,361 527,074 527,915 523,117 530.872 535,926 535,977 '541.023 540,928 247,916 125,783 122,133 251,953 127,692 124,261 245,827 122,693 123,134 236.575 118,578 117,997 234,548 117,648 116,900 233215 117,432 115.783 228,715 114,487 114228 234,886 119,721 115,165 238289 121,024 117265 239,118 '240.193 122,240 '122,994 116,878 '117,199 242,005 124,579 ,,„,„,„ 117,426 972 972 BUSINESS SALES [Millions of dollars; constant (1982) dollar series in billions of dotetsj Manufacturing and trade sales (unacj.), total -.. 6,310.071 6.515,005 '6,310,071 '6.515,005 1 2.840264 1.494,383 1,345.876 '2,917,465 1,504,650 1,412315 !""!.!"...! '1,741,748 652,184 1.089.564 ' 1.807,219 654,757 1.152,462 '150,984 '151,995 '53,859 '54,306 '97,125 '97,689 152.191 54,420 97.771 152,711 54,152 98,559 149.750 52,402 97,348 147.803 50.897 96,906 151.092 53,235 97,857 151,467 53,725 97,742 150,967 53,490 97,477 152,710 54,074 98,636 152,642 '153,195 54,212 '54,117 98,430 '99,078 152228 t 53,193 ................ 99,035 „ '1,728,059 842.065 885,994 '1,790321 876J82 914,139 "151,694 '73,803 '77.891 150232 72,807 77,425 151 001 71,584 79,417 148176 69.739 78,437 148 036 71,045 76,991 144 723 69,094 75,629 143,608 69.022 74,586 142935 69280 73,655 145 019 68^945 76,074 144,927 68564 76,363 145217 '147635 69',347 '7O!618 75,870 '77,017 146 695 70,453 76242 492.2 232.0 125.9 134^3 4832 227.9 1258 12&6 482.5 228.9 1250 1286 474.3 222.9 124 7 126 6 464.6 216.1 1223 126.3 460.5 215.7 1204 124.3 462.4 215.3 123^1 12*0 4604 213.1 123 7 1237 468.7 219.3 1232 1262 472.6 2220 1242 126.5 Manufacturing and trade sates (seas, adj.}, total Manufacturing, total Durable goods industries Nondurable goods induces „ „ _„.. Retail trade, total Durable goods stores _ „ """Z"Z .„.. Nondurable goods stores ............. Merchant wholesalers total Durable goods establishments Nondurable goods establishments «... .............. Manufacturing and trade sales in constant (1982} dollars (seas adj) total Manufacturing Retail trade Merchant wholesalers See tooinotw at end cf tables. - 251,502 130,441 121,061 473.9 222.8 1241 1271 '4782 '223.7 "1247 '1293 476.4 224.5 "' 123.7 128.2 :::::::::: SURVEY OF CURRENT BUSINESS October 1991 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 S-3 1990 1989 Aug. 1990 | Sept. Oct. 1991 | Nov. | Dec Jan. | Feb. liar. Apr. | May | June Jury Aug. | Sept GENERAL BUSINESS INDICATORS-Continued BUSINESS INVENTORIES [Millions of dollars; constant (1982) dollar series in billions of dollars] Manufacturing and trade inventories, book value (non-UFO basis), end of period, (unadjusted), total „ 798,787 815,348 816,675 823,540 843,061 847.768 815,348 824,829 827,742 820,398 820214 812,683 801.777 '802,438 800.913 Manufacturing and trade inventories, book value (non-UFO basis), end of period, (seas, adj.), total 810.257 826,941 '822,683 827,145 830,414 832,464 826,941 831,445 828201 819,615 816.893 811,713 807,105 '806,802 806.177 383,825 253,261 130,564 388,811 252,836 135,975 387,986 254,721 133,265 390,992 255278 135,714 391,460 255,113 136,347 392,370 256,387 135,983 388,811 252,836 135,975 388,459 252256 136,203 385,982 250.405 135,577 385,145 249,546 135,599 381,877 246,964 134,913 379,968 '378,002 245.642 '244.467 134.326 '133,535 376.797 .......... 243,283 133,514 Retail trade, total Durable goods stores » Nondurable goods stores 238,159 120.663 117.496 242,563 120,629 121,934 242,056 122,314 119,742 243,217 123,559 119,658 244,901 124,048 120,853 244,550 122,947 121,603 242,563 120,629 121.934 388,381 252,170 136211 244,071 121217 122,854 241,179 119239 121,940 236,900 116,041 120,859 236,696 116,087 120,609 236204 115,490 120,714 235,098 114.305 120,793 235.994 114.754 121240 236.052 114,855 121.197 Merchant wholesalers, total Durable goods establishments Nondurable goods establishments 188,273 123,436 64,837 195.567 128.619 66,948 '192,641 ' 127,262 '65,379 192.936 127,614 65,322 194,053 127,235 66.818 195.544 127,971 67,573 195,567 128,619 66,948 198.993 131.331 67.662 198,563 131,254 67.309 196,733 129,885 66,848 195.052 128.607 66.445 193,632 126.816 66.816 192.039 '192,806 125,707 '126,056 66,332 '66,750 193,328 126.631 66,697 699.2 3342 195.3 169.6 6982 334.3 195.0 168.9 697.8 332.8 195.7 169.3 6980 3326 195.1 170.3 692.7 3297 192.7 170.3 695.5 329.5 192.5 173.5 693.9 3303 189.7 173.3 6877 3294 1865 1713 687.2 329.6 186.8 170.8 683.6 3275 186.5 169.7 Manufacturing and trade, total 1.48 1.50 150 1.52 1.55 1.58 1.57 157 1.54 Manufacturing, total Durable goods industries Materials and supplies Work in process .... Finished goods , 1.54 1.95 .54 .93 .48 1.58 2.03 .56 .97 .50 1.55 2.00 .55 .95 .49 1.60 2.09 1.00 .51 1.64 2.13 .60 1.00 .53 1.66 2.14 .61 1.01 53 1.67 2.15 .60 1.01 .53 1.69 2.19 .61 1.04 54 1.64 2.08 58 .99 52 1.10 .40 .19 .51 1.11 .40 .19 .52 M0 .40 .19 .51 1.10 .41 .19 51 1.15 .42 .19 .54 1.17 .43 .19 55 1.18 .43 .19 .55 1.19 .43 .19 56 1.18 .43 .19 55 '1.60 '227 123 '1.60 -228 122 1.61 228 124 1.60 Z27 123 1.62 2.30 125 1.65 2.38 1.27 1.60 2.24 125 156 2.16 124 '127 1.72 M 1.28 1.75 .84 129 178 .84 1.32 1.83 36 1.32 1.81 37 1.37 1.90 .89 1.38 1.90 50 1.38 „ „ ».„.,..„ 1.42 1.44 1.55 126 1.45 1.47 1.55 1.30 1.45 1.45 1.57 1.32 1.47 1.49 1.56 1.34 1.49 1.53 1.58 1.35 151 153 1.60 1.40 Manufacturing, total Durable goods industries Nondurable goods industries - Manufacturing and trade inventories in constant (1982) dollars, end of period (seas adj) total Manufacturing Retail trade Merchant wholesalers 6803 3262 18S2 168.3 '6807 '324 7 1867 '1692 151 1.50 1.49 1.49 1.60 2.04 57 .97 51 159 2.01 .55 .96 .49 1.57 1.99 .54 .95 .49 156 1.95 54 .93 .48 1.15 .42 .19 .54 1.15 .42 .19 54 '1.14 .42 .19 '53 1.14 .42 .19 53 157 Z17 124 155 2.14 122 154 2.11 123 1.54 112 122 155 2.16 122 J91 1.35 137 .87 1.34 1.85 37 1.32 131 37 '1.31 '1.79 37 132 130 37 150 154 1.54 1.40 1.49 155 151 1.39 1.47 1.50 1.52 1.35 1.45 1.48 150 1.34 1.44 1.46 1.50 1.32 1.42 1.45 150 1.30 1.43 1.44 151 1.32 tMM 679.6 3237 188.5 169.4 *"" '" BUSINESS INVENTORY-SALES RATIOS . Nondurable goods industries Materials and supplies Work in process Finished goods „ .. Retail trade, total Durable goods stores Nondurable goods stores Merchant wholesalers, total Durable goods establishments Nondurable goods establishments ., Manufacturing and trade in constant (1982) dollars total Manufacturing Retail trade Merchant wholesalers ..." „..„..... ,„„ , !. .58 137 „ , M I J _ i4 .............. MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS t [Millions of dollars} 2,840264 2.917,465 248,339 262,422 259,185 244210 234271 214255 231.617 238,810 235,069 240,483 254,733 '218,827 241,921 Durable goods industries, total Stone, clay, and glass products Primary metals Blast furnaces, steel mills Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment Motor vehicles and parts Instruments and related products 1.494,388 63,763 153,021 62,740 180.579 260,805 195,225 372,436 233,203 118,000 1,504.650 62,897 144,185 58,921 188.115 263,573 200,430 377,319 226,050 120,219 125,921 5,545 12.295 4,942 15,665 20,532 16,695 32.458 20,110 9,703 133.787 5.575 12,409 4,958 16.626 23,989 18,134 33,416 19,682 10,620 131,632 5,535 12,743 5213 16.578 21,991 17,151 34,345 22,197 10246 121,237 4,985 11,447 4,720 14.901 21,047 17,135 29,803 17212 10,305 119.684 4,197 10,578 4,198 14.304 23.834 16.925 28,476 11,784 10310 104,622 4,033 10.617 4,499 13.350 17,830 14.758 25.107 15.467 8.714 116,914 4,290 10.728 4299 14.819 20,308 16,459 29,488 17,002 9.462 122,049 4,402 10.650 4,110 15,443 23286 17,443 29230 15.952 10,182 120571 4,757 10,966 4,327 15.017 20,557 16.197 31,591 18.767 9.632 123,418 4,756 10,764 4,385 15.367 20.366 17,006 33,179 20,605 9,920 133,092 '107,332 '4,765 5.209 '9,836 10,949 4,463 '3,970 16.144 '13,541 24.383 '17,876 18,360 '15251 34,310 '25,671 19,809 '14,233 10.774 '9,067 122251 5,151 10339 . . . . . . . . . . . . . . 4,384 . . . . . . 15,411 19,134 . . . . 17,001 „,„.„ 31.851 19285 „ „,_, 10.029 Nondurable goods Industries, total Food and kindred products Tobacco products , - Textile mill products .1 1,345,876 379,543 26,003 68,366 1,412,815 397,090 28.161 63,535 122.418 33,411 2,468 5.494 128,635 35229 2,744 5,603 127,553 34,679 2,393 5.510 122.973 33.511 3.179 5293 114.587 33.005 2.346 4,655 109,633 29,912 1,548 4267 114.703 32,651 1.826 4,831 116,761 33,904 2,944 5,189 114.498 32.152 1.817 5.026 117.065 33,700 2,906 5214 121.641 '111.495 34,635 '31,765 '1,792 3,130 5,938 '4,773 119,670 33,310 2.454 , 5.892 128^87 275,187 146,310 94,357 128,761 285,612 179,357 91,657 10,982 24,493 16,683 7,867 11,041 25,487 18,752 8.051 10,904 24,260 19,604 8.335 10.473 23.929 18201 7215 10,093 23,031 16,080 6,684 10,030 23.701 14,935 6,953 10,334 24,205 13,261 7,482 10253 24200 12,838 7.497 9,921 24,971 13,509 7,799 9,85 24.560 14,352 7,807 251,502 247,916 251,953 245,827 236575 234,548 233215 228,715 234,886 238289 239.118 '240,19 242,005 130,441 5288 12,307 5036 15,879 22,042 16,791 35,512 22,280 10,038 125.783 5206 12,118 4953 15376 21.798 16,536 32.118 18.994 9,920 127,692 5,122 12.352 5108 15',B54 22,433 17,026 32,674 20,111 10206 122.693 4.983 11,754 4913 15.309 22235 16,869 29,439 16,889 10217 118.578 4.832 11,485 4,568 15,606 21,876 16,550 26,751 13.515 9.803 117,648 4,610 11,140 4623 14,848 21,006 16.599 28,106 16,070 9,845 117,432 4,544 10.620 4281 14,616 20.897 16.517 28.912 15,726 9,797 114,487 4,397 10,220 3900 14532 20.840 16525 27,314 14.910 9,488 119.721 4.556 10,625 4,135 14/711 20390 16,755 30,402 17,372 10,137 121,024 4,617 10,569 4220 14,715 20.735 17218 31,310 18.515 10.012 122240 '122.994 4,762 '5.006 10.418 '10,61 ' 4 29 4212 15,003 'W.895 21.142 '20.51 17,082 '17,166 31.823 ' 3 2 5 9 '19,979 18.56 9,962 '9.933 124.579 4,86 10.742 4 41 15.41 20,522 17,073 33,322 20,07 10.34 121,061 33,437 2.591 5.245 10,884 24,724 16251 7,880 122,133 33258 2.440 5.123 10356 24,643 18,011 7,809 124261 33,680 2,532 5,166 10.768 24,816 19240 7,976 123,134 33.718 2,792 5,188 10.758 24.974 17,948 7,588 117,997 33.660 1344 4,995 10467 23.902 15,874 7,384 116500 32,111 2,465 4,889 10216 24,195 15,464 7,476 115,783 32.917 2,286 4.878 10218 23.816 14.099 7,395 114228 33,111 2,452 4,932 9994 22;885 13584 7.303 115,165 32,854 2,095 5,085 9.949 24.117 13.760 7,527 117265 33.31 2.56 5233 9952 2*54 14,33 7,482 116.878 '117,199 33265 '32.96 '2,55 256 5.43 '5.546 10284 ' 1 0 2 5 23.895 '24,06 '13,71 14.15 '7,92 7.62 117,42 33239 2543 5.588 1025 23,99 13.74a Shipments {not seas, adj.), total Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and plastics products „ Shipments {seas, adj.), total _ oy inoustry group. Durable goods industries, total # Stone, clay, and glass products Primary metals Blast furnaces, steel milts Fabricated metal products .. Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment ... .. Motor vehicles and parts Instruments and related products Nondurable goods industries, total # Food and kindred products .Tobacco products Textile mill products Paper and allied products ... Chemicals and allied products Petroleum and coal products Rubber and plastics products „ ... .,„„ , „ „ „ .. ,. „ ...„.„ „..„. - ...... - „.,„. .... - ~ .. -.. See footnotes at end of tables. ~ „.,., ,.„ 10.738 24,992 14,136 8.298 '9.964 '22,566 '13,672 '7559 mm ,.,^ 10,404 ,.,_, 24,000 14,38 ,.„„, 7,996 751 _ - - S-4 SURVEY OF CURRENT BUSINESS Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 Annual 1989 October 1991 1991 1990 1990 Aug. | Sept. | Oct. | Nov. | Dec Jan. | hb. [ liar. J ^ Aj pr. | Uay | June | July | Aug. | GENERAL BUSINESS INDICATORS-Continucd MANUFACTURERS' SHIPUENTS, INVENTORIES, AND ORDERS-Continued t [Millions of dollars] Shipments (seas. adj.J-Continued By market category: Home goods and apparel Consumer staples Machinery and equipment ..„ '. „ Automotive equipment . Construction materials and supplies .... Other materials, supplies, and intermediate products Supplementary series: Household durables Capital goods industries „ rf Nondefense Defense -.«.. ...... ., Inventories, end of year or month: Book value (non-UFO basis), (unadjusted), total Durable goods industries, total Nondurable goods industries, total '173.136 ' 617,547 '458.113 ' 113.294 '175,948 '974,969 '170,871 '670.558 '472.748 '103,865 '170,750 '983,829 14,114 57,544 40,690 9,963 14,367 85267 14,033 58,092 39.991 8,900 14.020 83,408 14.353 59,575 40.874 9.282 13.888 84,145 14,320 59,319 39,250 7.753 13,498 82,098 14,444 56,705 38510 6,426 13548 78570 14,039 55,652 38,105 7.090 12,941 78.608 13,930 £5,603 28,199 7,045 12.789 77547 13,910 55,191 36,730 6,686 12563 75.795 14,405 54,903 38.623 7.815 13,091 77575 14,376 56,728 39,163 8237 13297 78.647 14,639 56,143 39,416 8,145 13503 79.570 '15069 '55,635 '39.033 '8,781 '13.743 '80245 15.078 55,827 39.194 8.878 13.696 80,737 '76.973 '471.469 '364.922 '106,547 '77,561 '491,594 '384,663 ' 106,931 6,429 41,610 32,478 9,132 6,449 41,091 32.416 8,675 6^15 41^39 32.632 8.907 6513 41,142 32,099 9.043 6,658 41523 32,722 8501 6583 39323 31,721 8202 6242 40,711 32213 8,438 6215 39371 31,405 8566 6.460 40,593 31.733 8560 6,445 40,543 32.131 8.412 6.383 41,398 32.848 8.550 "6,678 '39,978 '31,732 '8246 6,755 41,321 32223 9,098 377,201 248,011 129,190 382.135 247,615 134,520 389.637 255,977 133,660 388,993 253,780 135,213 391,165 254,748 136,417 391216 255.440 135.776 382,135 247.615 134520 387,733 251335 136,698 386.434 251,017 135,417 387,458 251.304 136.154 384,554 249,380 135,174 378,904 '378,863 245,429 '245,338 133,475 '133525 378,610 244.668 133.942 383,825 388,811 387,986 390,992 391,460 392,370 3885H 388,381 990570 &3.719 136551 ^3,459 385382 385.145 381,877 379.968 '378.002 376,797 253,261 7,780 22,663 10,948 24,600 48,557 31,130 72,576 12.159 24,998 ' 252,836 8.157 23,651 11,658 24,585 47.724 30,067 73,424 13,039 24,273 254.721 7,828 23.301 11,145 24.759 48,294 30,856 73,523 12,408 24,987 255,278 7,911 23,584 11.304 24,653 48.457 30,720 73,511 12,408 24,982 255,113 8,039 23,612 11.313 24,904 48,409 30.607 73,228 12,370 25.119 256,387 8.078 23544 11,388 24,863 48,499 30584 74^18 12,750 24526 252536 8.157 23.651 11,658 24585 47,724 30,067 73,424 13.039 24273 252,170 8223 23257 11,400 24519 47377 29347 73.486 13.085 23.975 352256 8243 23216 11568 54,717 43198 29,698 73551 13228 53.928 £50.405 8.138 249546 8.096 23.029 11216 23,992 48,014 29,714 72,985 12,867 23,743 246,964 8,016 22,645 11,023 23,649 47,764 29522 72,109 12,447 23567 245,642 '244,467 8,019 '7.968 22509 '22217 10.943 '10,851 23,433 '23,163 46.922 '46,985 29,333 '29.377 72,071 '71.612 12,479 '12,488 23,717 '23,638 243283 6,023 22.065 10.777 23,109 46,736 29,131 71217 12533 23.615 71.295 120,890 61.076 71,191 119,169 62,476 70,044 121,956 62.721 70.268 122.352 62,658 70,741 121,692 62.680 71,041 122.487 62559 71,191 119,169 62.476 71208 119,015 61347 70380 119,010 $2266 70.101 118.646 61,658 68,425 117,308 61231 67,387 '66,936 117,748 '117550 60,507 '60,181 66517 116.132 60534 130,564 26,880 5.094 8,999 12.962 31.098 10,688 11,430 135.975 27,784 5.375 8,846 13,362 32.366 13.175 11,995 133,265 27,696 5,438 9,021 13.192 31,253 11,736 11.363 135,714 28,055 5,396 9,096 13225 31.557 13,328 11,629 136,347 28,186 5,332 9,080 13.241 31.897 13.370 11.952 135.983 28,047 5225 8,933 13247 32.172 13504 11340 135375 27,784 5575 8546 13,362 32566 13,175 11395 1362H 28,091 5.642 8.892 13.547 32.651 12279 1£054 136203 58,137 5.720 8561 135.577 28221 5,662 8.699 13771 32505 11586 11.766 69274 118,041 62231 135,599 28,321 5.851 8,639 13,720 32.772 11,563 11,801 134,913 28,154 5,788 8.592 13576 32.666 11,759 11.652 134,326 ' 133535 28,169 '27,864 '5,987 5.803 8,546 '8561 13,332 '13247 32,417 '32228 11,774 '11.613 I I 5 3 7 '11.405 133.514 27,907 5,967 8,562 13,057 32.482 11,627 11.345 48.456 22,424 59,684 49,710 22,906 63,359 49,003 22.683 61,579 49,407 23.149 63,158 49.845 23,155 63.347 49381 22350 63,052 49.710 22306 63559 50,034 22,426 63.751 49,706 64,128 49.661 21.998 63318 49,523 22296 63.780 49,342 22224 63.347 '49,409 '22228 •'61.898 49211 22509 61394 28.080 51,075 87,474 6,373 23,508 128,055 26,567 54,407 87.135 6,698 23,957 131.364 27.618 53,288 87,044 6,552 23.721 129,379 27,592 54,640 87.498 6.513 24,005 130.432 27,158 54,772 87.421 6,526 24,107 131.188 26541 54573 87314 6,604 24,035 131513 26567 54,407 87.135 6,698 23.957 131,364 26280 54,616 87,645 6,660 23.865 131.625 26,180 54.589 87,612 6.677 23322 131.474 25,703 54,466 87.738 6,472 23>37 1305 08 25,444 54,796 87.832 6,454 23,341 129.945 25.406 54,693 87.319 6.316 23,054 128,491 25.390 '25244 54.578 '54.359 86.647 '86,572 '6209 6228 23.123 '23,063 127,715 '126,666 25263 54,490 86,480 6257 23,055 125371 13,548 124.243 84,141 40.102 12.901 121.951 83,334 38,617 13,371 124,218 83,486 40.732 13.362 124.322 63,885 40,437 13,254 123,975 83,770 40,205 13.158 124.938 84212 40.726 12301 121351 83534 38.617 12507 121556 84.132 37,724 12.758 121307 83308 37399 12225 121.727 84.146 37581 12,134 120,871 83,747 37,124 12,080 '11,923 119.975 '119,629 82,869 '82325 37,106 '36,704 11,878 118,767 82.811 35,956 New orders, net (unadj.), tota1.. Durable goods industries, total. Nondurablee goods • • total -• goods •industries, '2,889,092 '1,543,806 '1,345,286 '2,923,715 '1,511.501 '1,412214 244,225 121,242 122,983 263,029 134,528 128,501 260,229 133,369 126.860 238277 115.896 122.381 237.406 123,043 114563 217.443 107.749 109,694 234,071 119.158 114313 12.442 121.538 83,985 37553 238,355 120.990 117,365 231,020 116.644 114576 237591 119.718 117573 246,990 '226,615 125,745 '114.829 121245 '111,786 240.722 120,635 120,087 New orders, net (seas, adj.), total „„ By industry group: Durable goods industries, total Primary metals „ Blast furnaces, steel mills Nonferrous and other primary metals .... Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment.. Transportation equipment „ Aircraft, missiles, and parts '2,889,092 '2.923,715 250,592 248,987 254.976 239237 238,196 234.462 233,132 226.431 231229 236,540 233,725 '248.090 243,333 '1,543.806 '149,818 '60,458 '77,325 '177,552 '262,898 '197.269 '421,986 '162.805 '1,511,501 '143,388 '58,201 '73,379 '187,049 '261,443 '201,261 '393,599 '145,798 129,020 12,219 5.160 5.890 15,577 21.065 17,233 35,222 10,356 126.893 11,993 4,857 6.186 16503 22,398 16,084 32,915 12,571 130575 12,653 5,223 6,448 15,156 21.904 17,363 36,784 14.556 116,193 11,190 4204 6.078 14579 21384 15350 26,903 9,085 120221 10.459 3,786 5326 15532 20.492 17.622 31,788 15.679 117,789 9506 3555 5215 15.196 21.785 16243 29537 11235 117547 9,776 3539 5^4 14278 19.899 18.067 29.758 12501 112.116 9,725 3.664 5274 14^28 19572 15.642 28.343 12.015 116,139 10,490 4279 5,429 14574 20243 17,330 27,453 8.677 118,434 10,377 4223 5,360 14.703 20.955 16311 28.781 7596 117,128 '130,827 10,782 '11,496 '5,088 4.476 '5,515 5,429 14,592 '14,875 20.137 '20,522 15,371 '17.523 29,814 '37582 9,890 '16595 125.709 11,432 5,039 5523 15,419 20276 16,094 34,540 11.835 Nondurable goods industries, total Industries with unfilled orders $ Industries without unfilled orders 0 ... '1,345,286 '342.006 '1,003.280 '1,412,214 '351,172 '1,061.042 121,572 30,176 91,396 122,094 29,507 92587 124,101 29.126 94.975 123,044 29,336 93,708 117375 28,609 89566 116,673 28522 88,351 115585 28.463 87.122 114.315 28.363 85352 115,090 27316 87,174 118,106 29,033 89,073 116,597 '117263 27.958 '28,808 88,639 '88.455 117,624 28,972 88,652 '173,304 '617.551 '506,138 '113,102 '174,531 '975,289 '171,099 '670,419 '495,458 '103,683 '170,287 '980,655 14,372 57,571 39.580 9.967 14,374 85,556 14.417 58,082 41,828 8,884 14.267 83,127 14,263 59564 46.170 9.251 13,813 83,624 14,707 59,310 38.327 7.692 13,140 80,380 14241 56,664 44.161 6575 13204 77.001 13.428 55,660 39349 7.121 12,830 77.745 13,668 55599 39282 7,049 12555 77.449 13,925 55209 36.967 6.660 12.644 74554 14.601 54538 35503 7.628 13.199 77,834 14,528 56,698 35251 8262 13,411 79,391 14.645 56249 35,301 6.103 13,633 78.452 '15,036 '55,692 '42265 '8,785 '14,325 '83243 15,302 55510 37,428 8328 13,693 81.771 '76,893 '526.797 '417,797 '109.000 '77,099 '501,797 '408,380 '93.417 6,405 40,106 31,607 8,499 6.563 42,164 34,419 7,745 6,388 44.738 37,223 7515 6.752 35928 30.834 5.044 6597 45.404 38560 6544 5332 41.640 33357 7583 6,092 41,678 33,756 7322 6.167 38.632 31.940 6.692 6580 36538 28,748 7.790 6567 37,569 28.038 9,531 6.367 37563 29.282 '6.756 '46,074 r 36,689 '9.385 6.922 41,715 30,845 10,870 Book value (non-UFO basis), (seasonally adjusted), total .. By industry group: Durable goods, industries, total # Stone, clay, and glass products Primary metals ... Blast furnaces, steel milts Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment Motor vehicles and parts Instruments and related products By stage of fabrication Materials and supplies Work in process Finished goods Nondurable goods industries, total # Food and kindred products Tobacco products Textile mil! products Paper and allied products Chemicals and allied products Petroleum and coal products Rubber and plastics products By stage of fabrication Materials and supplies Work in process Finished goods By market category; Home goods and apparel Consumer staples . Machinery and equipment Automotive equipment Construction materials and supplies Other materials, supplies, and intermediate products Supplementary series: Household durables Capital goods industries _.., Nondefense Defense .„„ By market category: Home goods and apparel Consumer staples „ „ „ Machinery and equipment „ „ Automotive equipment Construction materials and supplies Other materials, supplies, and intermediate products . Supplementary series: Household durables „ Capita! goods industries !™"_— Nondefense ,......„... ......... Defense „..! _ See foofiwies at end oJ tables. 13$5 52.762 11571 11359 S569 232® 11,426 24272 47321 29,719 73,116 12319 23?40 49305 22,395 62,626 8281 Sept SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-68 1989 | S-5 1991 1990 Annual 1990 Au f l . | Sept. | Nov. 0*. Dec. Jan. | Feb. | I*. Mar. Apr. 525210 504,516 20,694 522,318 500,816 21502 521,085 July | Aug. | s . p t GENERAL BUSINESS INDICATORS-Continued MANUFACTURERS' SHIPMENTS, INVENTORIES, AND ORDERS-Continued f t [Millions of dollars] Nondurable goods industries with unfilled orders X 519.336 513,943 '521,840 523.168 19,821 6.979 10,068 492.976 '500.809 20,165 '21,070 7243 '8.035 10,156 '10225 501.939 21,760 8.659 10,262 27,382 55,351 50.071 278,159 243,014 27,370 55,571 49,764 275,630 239,781 26,959 '26,939 54,566 '54,577 48,053 '48,410 273,621 '278,811 238282 '243.995 26,947 54,331 47,431 280,029 244.421 20,482 20,407 21248 '21,031 21,229 7,729 1,304 232,182 1.853 12,385 123,871 7,925 1239 229.362 1.866 12,493 123,829 8,077 1209 225.450 1,891 12,606 124,574 '8,050 8,083 '1,371 1,315 221,335 '224,567 '1,852 1,849 12,737 '13,318 123,455 '126.456 8275 1,354 222,800 1,902 13,315 127,490 4,602 404,710 254,089 150,621 4,554 403.371 254,624 148,747 4,674 399.316 251,639 147,677 4,796 396,342 247,546 148,796 '4,858 4,780 392.507 '398.603 243,980 '248,937 148,527 '149,666 5.025 398,997 247559 151,438 54227 51,991 48,419 50,384 55.917 51,536 55,735 52,235 '56,618 '52.327 51,654 52.071 5,148 1,414 635 405 991 362 6,690 1,759 900 496 1,360 433 6.876 1,802 913 599 1,307 454 7,464 1,931 1,043 572 1,449 533 7.786 2,022 1,023 630 1,549 516 6,83: 1,734 918 510 1,320 468 7,627 1.923 1,052 595 1,422 507 4,676.5 5187 115.6 1,146.4 584.9 168.5 10.242.8 984.2 168.8 1,6672 2,150.8 2067 11,9972 5,189.9 396.3 4,179.1 416.8 2582 7,330 1,876 1.036 567 1.442 495 7,317: 919.9 163.0 643.3 2809 326J 5,069.1 759.6 746.0 795.8 675.3 288.6 12248.0 601.5 595.1 374.1 413.6 241.3 4,930.5 4342 170.4 286.5 335.0 107.8 4.734.1 1227.8 350.5 5252 259.5 359.6 654 525 704 556 361 275 663 661 681 679 694 706 685 '672 529 707 573 374 1,488 593 1,068 582 385 307 869 1,488 631 857 567 363 298 1,474 1,488 594 664 728 1,493 554 828 578 385 294 787 1,486 566 842 598 392 739 1,479 533 726 542 368 279 771 1,494 '585 '604 '565 '368 '304 '1,351 '1,439 789 716 1,084 284 799 716 1,089 306 800 716 1,108 279 813 697 1,122 310 798 691 1,116 278 794 697 1,108 272 783 697 1.086 273 527,260 507258 20,002 529,714 509.502 20.212 532,164 527,195 527,109 527,026 529259 508,443 20,816 524,742 511232 24,712 10,069 11,481 504.732 24,148 9,360 11,632 506,516 21,488 7,510 10,981 506,631 20,644 7,068 10,621 504,260 20,149 6,832 10,405 500,678 20.013 6,976 10,194 27,915 58,820 49,032 275,001 238,744 27,485 58,569 48,113 272,465 237,129 27219 55,998 49,496 281,108 245,407 20,932 20,842 27,761 57,964 48,829 279,233 242,391 20,593 27,423 56,966 50,379 280,079 243,762 21,131 28,613 59,349 48,695 270,891 234,746 21,092 506,375 23,122 8,578 11,416 27.411 57,185 49,185 277,502 241,418 20,820 20,395 8,110 1,353 216.955 2,001 12,881 130,160 8.493 1,344 218,792 1,985 13,128 129.880 8,403 1,333 224,088 1,955 13,052 129,359 8,790 1.324 223,166 1.894 12,694 127,640 8,586 1283 229,017 1,843 12,550 125,773 7,975 1291 230,861 1,875 12,439 124,910 7,714 1.287 231,945 1.879 12,304 124,810 5,238 239,093 159,994 5,352 400,160 241,096 159,064 5,225 403,359 245,687 157,672 5.464 398.145 244,472 153,673 5203 402,026 250,310 151,716 4,752 403,743 252,546 151,197 643,022 53,115 52,074 42,002 52,334 53.068 51,824 45,714 51,422 50,394 52.060 50.361 12,779 7,120 4,284 11.120 3.687 60,432 16,063 8,072 5,090 12,826 4,376 5,637 1,587 752 485 1,166 418 4,865 1,374 638 400 987 353 6,079 1,568 731 478 1,258 463 5,354 1,416 689 444 1,084 398 42,328.8 4,250.9 2,837.7 3,593.2 2721.6 1,1875 64.044.1 6,767.3 2,9055 6,829.7 7,716.0 2,414.8 75.0 5,973.9 751.7 155.3 375.8 224.5 207.3 4,0172 1,383.1 293.5 528.6 297.1 244.8 4,473.0 5422 354.8 6022 351.6 226.6 3.591.9 781.9 185.3 735.8 264.6 286.7 528.070 506.939 24,536 10,050 11,301 508,049 24.411 9,954 11,313 27,411 57.185 49,185 277.502 241,418 20,820 27,986 58,749 49,147 270,094 233,255 8,328 1,420 206.341 2.026 13,024 129,044 8,586 1,283 229,017 1,843 12,550 125,773 5.750 226.633 165,063 5.203 402.026 250,310 151,716 676,565 520,837 527,195 499,494 23,927 9,308 11.930 28,477 59,354 48,377 261,092 223,248 21,343 506,375 23,122 8,578 11,416 Unfilled orders, end of period (seasonally adjusted) total By industry group: Durable goods industries, total # Primary metals Blast furnaces, steel mills Nonferrous and other primary metals By market category: Home goods arid apparel Consumer staples Machinery and equipment Automotive equipment Construction materials and supplies Other materials, supplies, and intermediate products . Supplementary series: Household durables Capital goods industries •• Nondefense "Z. Defense 521.164 499,350 21.81 524,072 504,131 19,941 526,870 506,113 20,757 525219 503,635 21.584 517,822 497,280 20^42 Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment '522,363 '500.966 '21.397 520.937 500,772 20,165 525,574 525,826 504,376 21,450 529,141 524.072 504,131 19,941 Unfilled orders, end of period (unadjusted), total Durable goods industries, total Nondurable goods industries with unfilled orders t '. 514,575 493,469 21,106 20.967 BUSINESS INCORPORATIONS @ [Number] New incorporations (50 States and DC): Unadjusted Seasonally adjusted INDUSTRIAL AND COMMERCIAL FAILURES @ [For failures, number, for liabilities, millions of dollars] Failures, total Commercial service Construction Manufacturing and mining Retail trade Wholesale trade ....... Liabilities (current), total Commercial service Construction .... Manufacturing and mining Retail trade Wholesale tede". !.."!1Z" ".! Failure annual rate, number per 10.000 concerns 65.0 COMMODITY PRICES PRICES RECEIVED AND PAID BY FARMERS t [1910-14*100] Prices received, all farm products Crops # « Commercial vegetables Cotton Feed grains and hay .._ Food grains Pfyit ^ hmt Tobacco » - t « , hktt „ „ w „.„.,..„ ttmmmttt Livestock and products # Dairy products Meat animals Poultry and eggs .............. - Prices paid: Production items All commodities and services, interest, taxes, and wage rates (parity index) „ „ Parity ratio § 674 581 756 503 404 428 710 684 690 554 767 546 389 333 541 693 546 397 709 297 674 676 533 728 550 379 282 732 666 671 521 786 570 361 278 671 1,471 536 827 574 356 275 759 282 303 788 1,406 1,444 1,416 1,484 770 829 983 312 820 837 1.088 299 847 868 , 1,133 826 850 1,098 288 292 958 988 1220 1,265 55 54 54 54 52 52 51 122.6 129.0 129.9 131.1 1315 1322 1322 132.8 132.8 133.0 133.3 133.8 134.1 124.0 1307 131.6 1327 133.5 133.8 133.8 134.6 134.8 135.0 1352 135.6 136.0 121.6 123.7 122.4 128.2 130.3 128.8 128.6 131.3 129.6 130.1 132.6 130.8 1312 133.5 131.5 131.5 133.7 131.7 131.5 1337 131.8 132.1 134.3 132.4 1322 134.6 132.6 1322 134.8 132.7 132.6 134.9 133.0 133.1 135.4 133.3 133.3 1357 133.6 818 601 1,094 304 1,477 813 777 1,104 291 1,009 1289 555 358 291 1.349 1,484 676 607 652 564 370 331 1.438 1,535 1,060 '762 '752 M.015 289 286 746 771 979 283 134.3 134.6 1352 1362 136.6 1372 133.3 136.1 133.8 1337 1367 1342 134.5 137.4 134.8 780 722 1,004 1,012 1,000 1,295 1,305 1299 51 52 53 CONSUMER PRICES {1982-84=100} Not seasonally adjusted: All items, wage earners and clerical workers (CPI-W) All items, all urban consumers (CPMJ) ..Special group indexes: All items less shelter All items less food ...Z. All items less medical care ..—... See toottiotes at end of tables. _ SURVEY OF CURRENT BUSINESS S-6 Annual Unless otherwise stated in footnotes below, data through 19-^ and methodological notes are as shown in BUSINESS S T A T I S T ^ 1961-68 1990 IMS October 1991 1991 1990 Aug. | Sept. Oct. | Nov. Dec. Feb. Jan. I Mar. I Apr. May June July Sept. | Aug. COMMODITY PRICES-Continued CONSUMER PRICES-Continued [1982-64' 100, unless otherwise indicated} Not seasonally adjusted-Continued At! items (CPI-U)-Continued Nondurabies Nondurable less food Durables Commodities less food . Services „ Food # Food at home . ^ . ' .....' ' .... Shelter # -4 Rent residential Homeowners' cost, Dec. 1982*100 ... Fuel and othef utilities # .' Fuel oil and other household fuel commodities ....' . Gas (piped) and electricity / ,v. Household furnishings and operation / „. Apparel and upkeep Transportation private New cars Used cars !! Public Medical ca/e .../ •",,'['. „ !... - ' \ ... Seasonally adjusted t All items, percent change from previous month or year .... \ ,. Commodities * Commodities less food Food Food at home ... * 1167 118J 111J H2,! 112-0 131 9 122.8 126 0 119.9 1*3.4 117.4 139-2 122.8 12S3 119.9 112.9 117.2 140.9 124 6 1287 124.1 1128 119'8 141.4 126.1 1304 1265 1136 121.8 141.7 126.3 130' 126^6 1141 1251Z4-2 132.4 1323 132.9 132.7 1332 132.9 133 6 1334 1340 133^8 134.2 133.8 135.8 136.4 135.5 135.7 1358 136.0 123-0 132-5 132-8 137-3 tQ7,l 81,7 107-5 111-2 1285 140-0 138.4 144.6 111.6 99-3 109.3 113-3 1302 142.4 139.4 146.5 112.7 91.8 111.6 113.3 130.5 142.3 140.0 147.0 1140 104.4 112.4 113.8 130.6 142.4 140 5 147.2 1134 118.5 109.0 114.2 130.4 142.4 140.7 147.3 112.9 117.0 108.0 113.8 130.5 142.7 141.1 147.5 1127 114.1 108.6 113.7 131.8 144.0 1412 147.9 1148 1112 111.5 114.1 132.4 144.6 141.5 1482 1147 1057 111.5 115.6 132.6 145.2 142.0 148.4 1141 99.3 110.8 115.7 It 8-$ 114.1 112-9 119-2 120,4 12$ 5 149-3 124-1 120.5 118-8 121-0 117.6 142-6 162.8 1222 120.6 119.0 119.5 118.3 141.9 165.0 126.8 123.0 121.4 119.0 118.3 1440 i65!e 128.4 125.8 124.2 120.5 118.1 146 6 1611 127.5 126.9 125.1 122.1 117.2 150 3 168.4 125.3 127.2 125.1 123.5 117.1 1544 1692 123.8 125.5 1232 124.6 116.1 155.4 171.0 126.2 123.7 1212 125.3 115.1 1562 172.5 128.8 122.3 119.9 125.4 114.4 1533 173.7 '40 '54 1232 1179 133.2 132.9 124.6 119.8 1336 133.3 .6 125.8 121.3 134.1 133.9 126*1 121 4 134.7 134.6 .3 1262 121.5 134.9 134.8 .4 126.3 121 3 1357 135.9 2 126.1 121.1 135.4 1352 -.1 125.6 120 2 135.7 135.5 126.0 130 0 125.7 114 5 121.4 142.3 i2i!s 142.0 126.0 1298 124.0 115.0 120.6 143.8 1257 129.3 1232 1155 120.3 144.6 125.7 1292 122.9 115.5 120.1 144.8 126.8 130 6 124.6 115.9 121.3 145.0 1267 130 4 123.9 116.0 120.9 145.8 1262 129 6 123.0 116.3 120.5 146.8 126.4 130.1 124.3 1159 121.1 147.3 127.1 131 0 125.9 115,9 122.1 147.9 1367 137.0 136.8 136.9 1372 137.4 136.5 136.0 136.0 134.9 136.0 134.9 132.5 145.2 142.5 148.8 1131 94.4 109.4 115.9 132.8 1452 142.8 1492 114.2 90.9 111.5 116.3 133.4 145.8 143.0 149.7 1158 89.3 114.4 115.9 1342 146.8 143.7 1502 116.4 87.8 115.4 116.3 134.5 147.3 143.7 1507 1162 87.8 114.7 1162 134.7 147.4 144.6 151.6 116.8 68.9 115.5 116.4 130.1 122.2 120.2 125.3 115.0 147.1 174.4 129.4 123.3 121.5 125.4 117.0 146 0 1752 125.9 1237 121.9 125.3 118.8 146.6 1762 1252 . 127.6 123.4 123.8 122.0 1217 124.4 124.9 120.4 120.0 146 7 147.6 178.9 177.5 131.3 123.8 122.1 124.1 119.8 146 6 179.7 2 126.0 120.3 136.7 136.8 .3 126.5 121.0 136.7 136.5 2 126.8 121.1 137.4 137.4 .2 126.6 121.3 136.6 135.8 2 126.8 121.8 136.2 135.0 .4 127.1 122.1 136.3 1352 126.4 1302 1219 1155 120.7 144.7 Apparel and upkeep ... • 124.8 125.5 125.1 125.3 125.7 126.9 128.9 127.4 1272 127.8 127.7 128.9 130.4 129.9 Transportation Private New cars ....-, „. X "../ 120.7 1192 120.9 123.4 122.0 121.1 125.8 124.3 121.2 1265 124.8 121.5 126.9 124.9 122.0 125.4 1232 123.6 124.0 121.6 124,2 122.8 120.6 124.8 122.4 120.7 1252 1232 121.6 125.3 123.5 121-8 125.6 123.5 121.8 125.6 124.0 122.3 125.8 124.3 122.7 1262 140.4 141.1 141.6 142.1 142.7 143.9 144.6 144.9 145.1 145.5 145.8 146.4 146.8 147.6 Services PRODUCER PRICES $ [1982*100 unless otherwise indicated} Not seasonally adjusted: AH commodities ........... ,/ ,. by staQe ot processing. Crude materials tor further processing Intermediate materials, supplies, and components Finished goods # , Finished consumer goods Capital equipment oy ouraoiiiiy OT proouct. Durable goods ........„.„, Nondurable goods Total manufactures Durable manufactures... Nondurable manufactures Farm products, processed foods and feeds Farm products Foods and feeds, processed Industrial commodities .. 112-2 116-3 116.5 118.4 120.8 120.1 118.7 119.0 1172 1162 116.0 116.5 116.3 116.0 1162 116.0 103-1 112-0 113-6 112.1 115-6 108.9 114.5 1192 118.2 122.9 110.2 114.4 119.3 118.3 123.1 115.3 116.3 120.4 119.8 122.9 124.8 117.9 122.3 121.9 124.5 116.7 117.9 122.9 122.6 124.7 110.5 1167 122.0 121.4 124.9 112.8 116.4 122.3 121.4 125.9 104.1 115.5 121.4 120.3 126.1 1012 1142 120.9 119.6 1262 100.8 113.9 121.1 119.8 1262 ' 102.1 114.0 '121.8 120.6 ' 126.5 99.5 114.3 121.9 120.8 126.4 99.4 114.0 121.6 120.3 126.5 992 114.3 121.7 120.5 126.5 98.0 114.5 121.3 120.1 126.1 119.0 107.1 114.3 119-3 110.2 121-2 1122 118.1 120.7 1152 121.6 112.3 118.3 120.9 115.4 121.7 115.2 119.7 121.1 117.8 122.5 118.8 121.3 121.9 120.1 122.3 117.8 121.4 121.9 120.3 1222 115.4 120.5 121.8 118.7 122.8 115.6 120.3 122.4 117.7 122.9 112.8 119.6 122.5 116.4 122.9 111.1 1187 122.6 114.8 122.9 111.0 1187 122.6 114.7 '122.8 '1117 118.8 '122.5 ' 115.0 122.6 111.5 1187 122,5 114.9 122.6 111.1 118.5 122.5 114.3 122.6 111.4 1187 122.4 114.9 122.4 1112 118.6 122.3 114.8 115> 110.0 118.6 1122 121.9 119.1 111.4 123.0 117.9 109.2 122.4 117.9 109,5 122.2 117.3 108.5 121.7 116.8 1072 121.7 117.0 106.9 122.1 117.1 106.9 122.3 118.3 109.7 122.6 118.1 109.6 122.5 '118.3 '110.4 '122.3 117.7 108.9 122.1 116.3 1052 121.8 115.3 102.6 121.6 115.0 102.8 121.1 ma . . . . . . Chemicals and allied products Fuels and related prod., and power Furniture and household durables Hides, skins, and leather products Lumber and wood products Machinery and equipment , Metals and metal products NonmetaHic mineral products ~ Pulp, paper, and allied products Rubber and plastics products Textile products and apparel Transportation equipment # Motor vehicles and equipment Seasonally adjusted: t Finished goods, percent change from previous month or y Vv Bv staae of orocsssino' Crude materials for further processing , -. Intermediate materials, supplies, and components . Finished goods # . Finished consumer goods.. Poods „„ Finished goods, exc. foods _ " * Durable Nondurable _ , Capital equipment 111.6 115.8 115.9 118.4 121.4 120.7 119.0 119.3 117.2 1157 115.6 116.1 116.0 116.0 116.4 1162 123-0 72.9 116.9 135-3 126.7 117.4 124-1 112.6 137.0 112-6 112-3 117.7 115-2 123.6 82.2 119.1 141.7 129-7 120.7 123.0 114.7 141.3 113.6 114.9 121-5 1182 122.5 82.4 119.2 142.2 130.2 120.9 1242 114.7 141.1 113.2 115.1 121.1 117.2 124.5 91.3 119.3 141.4 129.3 1212 124.6 115.0 141.3 113.4 115.1 121.0 116.7 126.5 101.0 119.5 140.9 127.5 121.4 124.5 115.3 142.0 1142 115.1 124.0 121.6 1282 97.4 119.8 140.5 126.9 121.7 123.3 115.8 142.3 115.0 115.3 124.2 121.5 127.9 90.5 120.0 140.6 126.8 122.0 122.4 115.8 142.3 115.4 115.2 1242 121.5 128.3 90.1 120.6 1402 127.6 122.6 122.4 116.9 143.6 116.0 115.7 1252 121.9 128.1 83.0 120.9 140.0 127.2 122.9 121.9 117.2 143.8 116.0 115.8 1257 122.4 126.0 78.5 121.0 140.4 127.8 123.0 121.5 117.4 143.7 115.8 115.9 1257 1222 126.0 78.1 121.2 141.1 129.2 123.1 121.3 117.3 143.2 115.5 116.0 125.5 121.5 '125.3 r 80.2 M212 140.4 123.1 120.5 117.3 ' 143.0 '1152 116.0 '125.6 '120.7 125.0 80.1 121.0 140.1 1362 123.0 119.6 117.3 142.6 115.1 116.0 125.4 120.6 124.6 80.1 120.9 138.0 137.0 123.1 119.5 1172 1422 115.0 116.3 125.5 120.4 124.6 81.4 1212 1382 133.1 122.9 119.6 117.0 142.4 114.9 116.5 125.7 1202 124.3 812 121.3 137.1 133.0 123.0 119.6 117.3 142.6 114.9 115.5 124.6 118.6 '4.9 •• -> •• • '• > - . r . , - ., •• M3i3 1.1 1.3 12 .4 .1 -.7 -2 .1 '.5 '-.4 -2 2 .1 1102 114.3 119.3 118.3 125.0 115.0 1207 111.1 123.4 115.6 116.1 120.8 1202 124 4 118.1 121.6 115.0 123.6 125.4 117.9 122.3 122.1 1251 120.6 121.2 118.6 124.1 117.6 118.1 122.8 122.6 1252 121.3 121.8 119.3 124.4 1112 1172 122.3 121.7 124.8 1202 122.3 117.6 124.8 1132 116.6 122.4 121.6 124.6 120.1 123.1 117.2 125.7 104.5 115.7 1215 120.5 1249 118.4 123.S 114.7 1255 101.0 114.5 1212 119.9 125.1 117.5 1242 113.4 126.2 100.6 •114.0 121.3 1202 1255 117.7 123.9 113.7 126.1 '100.7 113.9 '121.9 ' 120.7 '1255 '118.5 '123.6 '114.9 ' 126.5 99.0 114.0 121.4 120.0 125.0 117.7 123.3 113.9 126.6 99.2 113.7 121.1 119.6 124 0 117.6 123.3 1137 126.7 992 114.1 121.4 120.1 123.5 118.4 1237 114.8 126.8 98.3 1142 1215 120.1 1229 118.7 123.5 1152 127.0 .838 .760 .831 .754 .818 .749 .814 .748 .820 .747 .818 743 .824 742 .827 741 .826 .739 '.821 .737 .820 735 .622 .734 732 • - . 4 PURCHASING POWER OF THE DOLLAR As measured by: Producer prices, 1982=$1.00 Consumer prices, 1982-84*f1.00 Seefootnote*at end of tables. „ > .... .. .860 ,807 .839 .766 .822 .824 .729 SURVEY OF CURRENT BUSINESS October 1991 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-aa 1990 1989 S-7 1991 1990 Aug. | Sept. Oct. | Nov. | Dec. Jan. | Feb. | Mar. | Apr. | | May June July | Aug. S.pt. CONSTRUCTION AND REAL ESTATE CONSTRUCTION PUT IN PLACE + [Millions of dollars] New construction (unadjusted), total Private, total # Residential New housing units 443,722 446,434 43,218 40.704 40,080 37.061 32,006 27,732 27,105 29216 '32,467 '34,483 '36,043 '37,535 39.141 345.417 196,551 139202 337,777 182,856 127,987 31,634 17,602 12,009 30,014 16,363 11,329 29,428 15,894 10,885 27,401 14,509 10,041 24,127 12,034 8,300 21,108 10,465 7,336 20,394 9,625 6,643 22,044 10,991 7,527 '24,120 12,192 8,048 '25,162 13,608 8.894 ' 26.144 '14,838 '9,739 '26.918 '15,611 '10,470 27,821 16,376 11,117 113,988 20,410 65,496 117,971 23,848 62,862 10,774 2,015 '6,050 10,448 2.031 • 10228 2.083 '5,113 9,603 1.930 4,991 9,060 1,989* 4,633 7,851 1,640 3,951 7,886 1.693 3.921 8,119 1,797 3,994 8.796 1,954 4.392 8,337 1.731 4239 8,055 1.833 4,029 '8.069 '1.744 '4,100 8,078 1,794 4,104 9,465 9,565 904 827 938 908 735 582 716 716 786 767 775 98,305 39,567 3,621 1,300 3.520 28,174 108,657 45,825 3,733 1,433 2,732 30,593 11,583 4,656 307 150 239 3,714 10,690 4,329 307 178 210 3,383 10,652 3,973 370 92 163 3,715 9,659 3,991 385 94 247 2,956 7,879 3,607 345 112 156 1,969 6,624 3,353 276 122 156 1.159 6,711 3,509 8,347 4,063 283 141 152 1,913 9,321 4,106 307 152 160 2,669 9,899 4,167 114 144 1,177 7,172 3,613 287 121 156 1,415 449.7 4372 434.6 431.4 421.3 406.5 410.1 401.9 '407.0 399.0 '3982 404.9 4062 336.9 180 6 1255 330.3 175.4 121.6 324.1 172.1 119.0 3172 168.0 115.1 311.3 165.0 113.0 303.9 161.8 107.9 300.5 1556 103.5 293.3 1524 100.8 '299.0 '1518 '100.6 291.0 '154.6 '1032 '290.9 '158.3 '1067 '293.3 '161.6 '1102 295.9 167.3 115.8 119.1 22.9 63.8 117.6 22.5 62.7 114.3 22.8 60.2 111.4 22.5 57.8 109.6 23.0 56.9 105.8 22.4 53.8 107.0 232 54.0 103.8 23.1 51.8 108.9 '24.3 '54.8 '99.0 20.7 '502 '94.3 '20.9 '47.6 '937 '21.0 '46.8 , „,.. Nonresidents buildings, except farm and public utilities, total # . . . . Industrial Commercial .. . rUDHC UullDeS. Telecommunications ... Public, total # Buildings (excl. military) # , Housing and redevelopment Industrial Military facilities Highways and streets ' 5,881 282 296 181 155 2,918 758 , '10,617 '4,568 '294 118 147 '3,147 ,„„. „„.... 11,319 4.822 283 128 152 ............... 3.616 [Billions of dollars] New construction (seasonally adjusted at annual rates), total Private, total # New housing units Nonresidential buildings, except farm and public utilities, total # Industrial + +»*.**,» * * Cotfimercisl Public utilities: Telecommunications „.,...., „„,„„ , Public, total # Buildings {excl. military) # mttm ..„,.„. Housing and redevelopment 9.6 9.9 10.1 9.9 8.8 8.8 10.1 9.1 9.7 8.6 9.4 8.9 112.8 48.5 110.5 46.6 4.4 1.1 2.0 31.6 1142 48.6 4.6 1.1 3.0 34.3 110.0 46.9 4.1 1.3 1.9 33.2 102.6 45.9 3.3 1.5 1.9 25.6 109.6 482 3.4 1.4 1.7 30.7 108.6 48.4 3.4 1.5 19 30i0 '108.0 '49.6 3.4 1.7 1.8 28.6 108.0 48.9 '107.3 '46.8 3.6 1.8 2.9 30.3 106.8 47.2 3.7 ^1 2.5 29.8 1.9 '292 1.9 '28.8 '111.6 '49.9 '35 1.4 M '28.9 3.7 Industrial Military facilities Highways and streets 3.7 1.8 22 90.0 _ 20.5 44.7 .... 110.3 502 3.4 „,„ 15 „ 1.8 30.0 „ C O N S T R U C T I O N CONTRACTS [Millions of dollars, unless otherwise indicated} Construction contracts {F.W. Dodge Division, McGraw-Hill): Valuation total Index (mo. data seas, adj.), 1982-100 Public ownership , Private ownership By type of building: Nonresidential Residential Non-building construction , Mew construction planning {Engineering News-Record) § 261163 M73 233 042 '157 22279 151 19248 '148 20066 154 17200 152 13405 136 14,034 '133 13,376 138 16276 "139 20929 '152 20,713 145 19552 "136 21283 145 21,558 71305 189,859 69.573 163,471 7243 15,036 5,783 13,465 6,309 13,758 5,000 12,200 4.326 9,079 5,116 8,918 4,925 8,450 5,803 10,473 6700 14229 6,665 14,047 6,728 12,824 6,881 14,402 7250 14,308 93 058 120J436 47,670 275,118 81 692 105^352 46,001 213.389 7976 9£33 7805 8,678 3,584 16,895 6100 7;008 4,091 13,169 5 393 5:308 2,704 15,344 5,923 5,091 3,021 14,365 5 091 Sii85 3100 8!i36 5747 6,785 3,744 10,619 7076 8,712 5,141 9,229 6,778 9,190 4,745 17,726 6412 8,909 4231 9,433 6,940 9.695 4,648 7,454 9.764 4,339 "!"!ZZI 19.935 7173 8.463 3612 18£01 (3) 1.376.1 1,003.3 VliffiJ 102"8 75.6 93.1 71.9 942 75.6 81.4 54.9 574 43.1 52^5 392 59.1 46.1 733 61.4 997 " 82.8 977 84.5 103.4 86.8 '103.5 '87.4 '952 '79. "87.8 74.0 1.131 1,106 1,130 76< 971 992 781 907 742 977 801 983 83 '1,049 '879 1,033 751 847 648 '1.056 85£ 1,026 839 1,034 835 1,055 989 925 916 668 854 645 802 611 876 695 892 689 913 742 966 76 999 78 15 17 4,670 150 .... „„ HOUSING STARTS AND PERMITS [Thousands] New housing units started: Unadjusted: Total (private and public) Privately owned One-family structures "... Seasonally adjusted at annual rates: 0 Total privately owned One-family structures .....„.„, New private housing units authorized by building permits (17,000 permit-issuing places): t Monthly data are seas. adj. at annual rates: Total One-family structures .... Manufacturers' shipments of mobile homes: Unadjusted 1 338 932 198.1 894.8 mm 1111 798 756 188.1 Seasonally adjusted at annual rates @ 730 ( 703 195 195 15 181 181 188 142 181 10; 167 11 7 168 10! 157 12.8 157 15? 175 16 17 110.9 111.6 110.8 1112 110.8 111.1 110.9 111.0 110.8 110.7 '110.7 110.9 '110.6 111.0 '110.6 111.0 '110.6 '111.0 '110. '111. ,„„ 109.9 111.8 110.8 403.I 444J 404. 445.7 869 1005 794 14 175 '88 868 '95 979 780 '76 17 17 C O N S T R U C T I O N C O S T INDEXES Bureau of the Census, 1987=100: Composite fixed-weighted price index * Implicit price deflator' „ Boeckh indexes, 1987*100: „ 107.4 108.3 110.1 110.8 1062 1072 106.3 108.7 110.6 109.7 3907 42&8 400.C 440!j '111. '111.5 '111. '112. 111. 112. _M M ................ tt Average, 20 cities: Apartments, hotels, office buildings : ....... Commercial and factory buildings ....... ...„, Residences ...... .. „ .„„„„„. ,„ mnm 109.7 „ 111.7 110.7 111.7 ,„ 112. 1105 111.5 112.3 110.7 „,„ 1112 112. 112. 401 443! 403 U7, „.„„ ,. Engineering News-Record, 1967-1 OP. Building Federal Highway Adm.-Highway construction, 1987*100. Composite (avg. for year or qtr.) i t See toonote* at end ol tables. — 107.7 108.5 4O2.( 442^ 404.' 444.' 1092 402.6 444.7 108.5 402.7 444.! 402. 444! 402. 444; 114. 404 448! mi 408. 451, 413.: 455, 3 455.3 SURVEY OF CURRENT BUSINESS S-8 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-68 Annual 1989 October 1991 1991 1990 Aug. 1990 | Sept. Oct. | Nov. Dec. Jan. | Feb. | Mar. Apr. | May June July Aug. | Sept. CONSTRUCTION AND REAL ESTATE-Continued REAL ESTATE 0 [Thousands of units] Mortgage applications for new home construction: FHA applications Seasonally adjusted annual rates . Requests tor VA appraisals Seasonally adjusted annual rates 10.2 118 8.9 117.3 109.6 10.5 106 10.1 117 8.4 80 7.1 83 [Millions of dollar} Home mortgages insured or guaranteed by: Fed. Hous. Adm.: Face amount Vet. Adm.: Face amount § 45,893.24 14.041.80 Federal Home Loan Banks, outstanding advances to member institutions, end of period .. 51,863.74 15,787.10 4,764.17 1,572.64 4,319.28 1.180.04 4,476.07 1,612.16 4,224.89 1,206.52 3,636.16 4,459.53 1,501.67 3,651.85 1,259.86 3.630.56 1,183.14 3,765.79 1,210.77 3,723.18 1,173.79 4,070.27 939.10 4,444,38 1,311.15 4,828.99 1,589.33 117,096 121,988 117,887 116,514 116,675 117,096 112,647 111,513 107,004 102,827 98,744 94,740 91,525 90,142 152,384 14,217 11,766 12,291 10,224 10,526 8,216 8,113 11.137 M 3,640 14,253 13,322 12,743 3 1,387 12,049 785 1,163 1,189 10,541 558 938 8,758 527 880 8,651 675 7,038 480 682 6,984 419 934 9,728 475 '1,106 ' 12.047 '467 "1.246 12,470 '536 1,206 11,511 1,285 10,964 494 141,794 New mortgage loans of SAlF-insured institutions, '186,567 By purpose of loan: Home construction .. Home purchase All other purposes .. 2 2 24,952 142.432 3 19,l83 2 16,202 127,297 3 DOMESTIC TRADE ADVERTISING [Millions of dollars} Magazine advertising (Leading National Advertisers): Cost total .. Apparel and accessories .... .. Automotive incl accessories Building materials Drugs and toiletries Foods, soft dnnks, confectionery Beer, wine, liquors Houshold eqjipment, supplies, furnishings Industrial materials ' Soaps, cleansers, etc Smoking matena's All other • » Newspaper advertising expend.tures (Newspaper Advertising Bureau Inc Y Total Classified National Retail 8,771 3 22$ 1,114 4 431 32,368 11916 3948 16504 32.280 11 506 4122 16 652 7,923 2947 959 4 017 1,728059 842 065 885,994 1,790321 876182 914,139 158740 77529 81,211 145,254 71 411 73,843 162605 78 872 83.733 149 343 70 015 79,328 142295 67 374 74,921 140101 64 989 75,112 130923 62188 68,735 144,696 70164 74.532 147536 70939 76,597 151 460 71 311 80,149 142,711 '147,164 69 060 '70183 73,651 '76,981 149750 72 561 77,189 188586 121,484 67,102 195 861 126,560 69,301 188864 126,723 62,141 191489 127,597 63892 195482 127,298 68,184 196474 127,118 69,356 195861 126,560 69 301 200 792 130,628 70,164 200 356 131,344 69012 198017 130,016 68001 196 316 129,997 66,319 192 743 127,981 64 762 190525 '191,427 125.687 '127,149 64 838 '64,278 189,430 126,194 63,236 1 741 748 1 807219 153909 '154 643 '159875 /147 470 7,718 2 598 1,072 4 047 6,770 2293 982 3496 WHOLESALE TRADE t [Millions of dollars] Merchant wholesalers sales (unadj.), total Durable goods establishments . Nondurable goods establishments Merchant wholesalers inventories, book value (non-L!FO basis), end of period {unadj.), total Durable goods establishments ..„ Nondurable goods establishments RETAIL TRADE t [Millions of dollars] Estimated sales (unadj.) total Durable goods stores # Building materials, hardware, garden supply, and nobtle home dealers .. Automotive dealers Furniture, home furnishings, and equipment Nondurable goods stores General merch. group stores » Food stores Gasoline service stations Apparel and accessory stores Eating and drinking places Drug and proprietary stores Liquor stores - Estimated sales (seas, adj), total Durable goods stores # Bldg. materials, hardware, garden supply, and mobile home dealers # Building materials and supply stores Hardware stores Automotive dealers . .......... ..... .... Motor vehicle and miscellaneous auto dealers Auto and home supply stores Furniture, home furnishings, and equipment # Furniture home furnishings stores Household appliance, radio, and TV stores See footnotes at end of fcttes. ., 158243 146 335 151 469 156086 179653 130903 128589 149299 148510 159835 652.184 654,757 57,880 52.561 54,092 52,271 56,505 43,954 45,320 52.909 55,271 58.949 56,669 '57,277 '56,538 ' 53,348 92,700 383,596 91,493 92,524 381,961 92,983 8,543 34,432 8,082 31,603 7,710 7,443 28,953 8,118 6,558 26,507 9,784 5,626 25.656 6,705 5,683 27,112 6,495 6,876 32,191 7,234 8,558 7,750 7,707 31.005 7,377 33,185 7,150 9.282 35,031 7,518 8,701 33,792 7,342 '8,787 '34,262 '7,562 '8,556 '33,012 '7,688 '8.06C ' 31,457 '7,273 1,089,564 204,387 345,069 117.791 91.426 173,894 62,495 20,033 1.152,462 211,933 362.410 131,725 94,731 182.044 68.557 20,813 100,363 17,702 31,622 12,112 8,542 16.654 5,770 1,620 93,774 15,970 30,010 11,781 7.599 15,176 5,454 1,666 97.377 17,027 29,970 12,562 7,728 15.289 5,841 1,694 103.815 21,783 30,472 12.271 8.807 14,722 5,943 1,785 123,148 32,454 32,809 11,709 12,696 15,075 7,500 2,501 86,949 12,335 29,451 10,667 5,641 13,927 5,771 1,629 83.269 12,965 27,452 9.484 5.784 13,809 5,686 1,537 96,390 16,778 31.276 10,241 7.890 15,560 6,298 1,716 93,239 16,370 29,552 10.382 7,533 15,506 6,049 1,642 100,886 18,091 32,652 11,219 8,004 16.596 6,296 1.790 97,240 16,983 31.650 11,090 7,503 16,801 5,989 1,772 '97,366 '103.337 '16,153 '18,569 '31,993 '32.476 '11,298 '11.635 8,932 '7,339 '16.797 '17.528 '6,263 '6,065 '1.884 1,949 '94.122 '16,422 '29,622 '11,065 '7,637 '15,793 '5,856 '150,984 '151,995 .„ 152,191 152.711 149,750 147,803 151,092 151.467 150,967 152,710 '54,306 54 420 54,152 52402 50897 53235 53,725 53 490 54 074 "7743 5,569 '1,094 '7,639 5,460 ' 1 115 7,549 5,403 1,111 7633 5,448 1.103 7,270 5,141 1,085 7645 5,419 1133 7,488 5.380 1110 7836 5,675 1 114 7814 5,666 1 120 '31 181 '28620 '2561 '31 704 '29168 '2,536 3t 858 29322 2536 31839 29 287 2552 7341 5,364 1081 30531 27981 2550 29186 26656 2530 30 758 28180 2578 31 149 28590 2559 30849 28180 2 669 '7,649 4 236 '2,727 '7,716 ' 4 281 '2.753 7,686 4 247 2,748 7,537 4173 2,660 7.380 4 056 2,609 7,303 4 012 2,616 7,487 4105 2.690 7.536 4 071 2.740 7,590 4114 '53 859 2,752 152,642 '153,195 '152^28 ' 153296 ; 54,240 '54117 '53,193 7762 5,752 1 089 '7882 '5,805 ' 1 080 '7717 5,756 1087 '7,863 31 307 28 628 2679 31 562 28 885 2 677 '31 238 '28 593 '2645 '30503 '27943 2560 ' 3 1 418 ' 2 8 818 '2,600 7607 4 124 2,724 7,555 4 034 2,736 '7,680 '4121 '2.782 '7.603 4090 2.734 '7,672 54,212 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 1989 | S-9 1990 Annual Aug. 1990 Sept. | Oct. 1991 | Nov. Dec. Jan. | Feb. Mar. Apr. | May | June July | Aug. Stpt. DOMESTIC TRADE-Continued RETAIL TRADE J-Continued [Millions of dollars—Continued] All retail stores—Continued Estimated sales (seas, adj.)—Continued Nondurable goods stores ... ........ General march, group stores Department stores excluding leased departments Variety stores Food stores Grocery stores .. Gasoline service stations „ Apparel and accessory stores # Men's and boys' clothing and furnishings stores Women's clothing, specialty stores, and furriers Shoe stores '. , Eating and drinking places Drug and proprietary stores Uquor stores , Estimated inventories, end of period Book value (non-LIFO basis), (unadjusted), total Durable goods stores # Bldg. materials, hardware, garden .supply, and mobile home dealers Automotive dealers Furniture, home furnishings, and equipment r 97,125 '17,925 14,443 614 '97689 '17!68O ' 14.189 '612 97.771 17,589 14.160 606 98 559 17&7 14266 637 97,348 17,446 14,140 561 96,906 17,484 14.255 582 97,857 18,109 14,815 593 97,742 18,072 14.704 591 97,477 18,093 14,710 600 98.636 18.324 14,864 607 98,430 17,925 14,456 595 '99.078 '18,541 '15,044 600 '99.035 '18.443 '14,998 599 ' 99,056 '18,536 '15,136 '30,343 '28,338 '11,277 '30,711 '28,698 '11,711 30.487 28,511 12,196 30,701 28,727 12,547 30.639 28,670 11,887 30,650 28,680 11,409 30,483 28,509 10,926 30,947 28,977 10,701 30,660 28,686 10.497 31.125 29.087 10,746 31251 29,116 10,663 '30.991 '28,934 '10,618 '30.779 '28.726 '10,854 '30,837 '28,785 '10,934 '8,024 '790 '2782 '1,540 '7,887 '795 '2715 '1,500 7,828 781 2697 1,488 7,799 776 2666 1,507 7,696 766 2599 1,499 7,475 749 2,470 1.430 8,002 782 2685 1J532 7,856 780 2698 1.466 8,103 794 2801 1,501 8,147 787 2.836 1,484 8.074 755 2 807 1,455 '8,188 '750 '2,828 '1,510 '8,184 763 2796 1,528 '8,150 '15,195 5,799 ' 1,753 '15222 '5,858 1,759 15,168 5,942 1,765 15.240 5.961 1,773 15,166 5,869 1,785 15,304 5,925 1,826 15,710 6.154 1,845 15,513 15,615 6.243 1,783 15.791 6227 1,769 15,955 6245 1,760 '15,816 '6285 '1,794 '15.978 '15,904 '6,250 1,837 232,348 '232,148 115,004 '112,816 232,873 111217 '16,319 '56415 M6.562 16,161 54269 16,683 6254 '6288 1.849 233,000 121,245 237.352 121.195 238,174 117,887 243,058 119,194 256,414 124,645 260,078 126,967 237,352 121,195 236.304 120298 236.816 119,389 235,947 116,856 236.440 116,894 235,386 117,072 15,893 66 391 17.003 15.782 65 292 16J843 16,416 60347 17,157 16,276 60281 17,766 15,948 63 662 18,649 15.836 65 545 18,640 15.782 65292 16.843 15,893 64 692 16,597 16,241 63 807 16,386 16,831 60975 16,405 16.639 60163 16,874 16.848 60134 16795 Nondurable goods stores # General merch group stores Department stores excluding leased departments ... Food stores Apparel and accessory stores 111,755 40 091 31,248 23,397 17,667 116.157 40,348 3i!946 25,249 18.021 120.287 43547 33,989 23,950 21,151 123.864 45983 35;724 24222 21,263 131,769 50 359 39,507 25,068 22,364 133,111 51 004 40.431 25.559 22.084 116,157 40 348 31,946 25249 18.021 116,006 40 626 32.291 25,193 17,645 117,427 42030 33,194 24.757 18,771 119,091 43220 34,370 25,099 19,138 119.546 43580 34,839 24.980 19,304 118,314 42 593 34,017 25243 18,954 117,344 '119,332 42 069 '43 344 33,475 '34,466 25282 '24,950 18.706 '19280 121,656 44 322 35,292 24,755 20,128 Book value (non-UFO basis), (seas. adj.). total Durable goods stores # ... Bldg. materials, hardware, garden supply, and mobile home dealers Automotive dealers Furniture, hgme fum., and equipment - 238.159 120,663 242,563 120,629 '242,056 '122,314 243217 123,559 244,901 124,048 244,550 122,947 242,563 120,629 244,071 121217 241,179 119,239 236,900 116.041 236.696 116,087 236204 115,490 235.098 '235,994 114,305 '114,754 236,052 114,855 16,590 64,179 17,140 16,440 63,071 16,996 '16.548 '64,777 17,330 16,574 65,555 17,469 16,441 66,102 17,364 16,427 65,062 17291 16,440 63 071 16,996 16,401 63 580 17,005 16,241 61 942 16,893 16.199 59 357 16>23 16,014 58 921 17,166 16,107 58461 17,103 '16286 '57688 '17^022 16,324 57,925 16,835 Nondurable goods stores # General merch. group stores Department stores excluding leased departments ... Food stores Apparel and accessory stores 117,496 44,095 34226 23,198 19.436 121,934 44,357 34,990 25.008 19,847 '119,742 ' 43.630 '34,332 '24,370 '20,163 119,658 43,624 34,186 24,397 19,891 120,853 44,032 34,595 24,373 20.057 121,603 121,934 44,357 44286 34,854 . 34,990 25,008 24,604 19.847 19.895 122,854 44,824 35,563 25,325 19,804 121,940 44,341 34,941 25.178 19.738 120,859 43,820 34,752 25273 19.569 120,609 43,684 34,700 25,246 19.558 120.714 43,905 34.925 25,336 19.380 120,793 '121.240 44171 '44.465 35,163 '35,569 25,334 '25,226 19,405 M9222 121,197 44 469 35,685 25,190 19.170 648,387 685,851 58,470 54,606 57,074 63,525 82.401 49228 47,817 57230 54,982 59,740 '57,115 56,728 61.063 77,143 7,940 81,101 8,597 6.715 789 6,315 714 6,562 767 7,152 10,544 702 5265 611 5213 582 6236 698 6,626 727 747 7244 795 '6.948 794 7.045 823 7,12 825 571244 187.508 192,960 190,359 50,066 44,384 37,521 604.750 194,464 20Z872 199,992 51,755 16,171 17,285 17,064 4.902 4,143 3.493 48291 14,555 16,608 16,407 4,288 3,828 3,293 50.512 15,572 16,893 16,680 4,290 3.901 3,539 56,373 20.087 17264 17,028 5,163 3,725 3,670 71,857 30,149 18,732 18.316 7,570 3.761 4.993 43,963 11,275 17,034 16,820 3,039 3,515 3,450 42,604 11,903 15,629 15,386 48,356 14.934 16.488 16264 4284 3,812 3,597 52.496 16,504 18,173 17.940 4.602 4.005 3,787 '50.167 '15,521 '17,458 '17240 3,418 3,457 50,994 15,399 17,846 17,570 4,616 3.933 3,864 '4,050 '3.639 49,683 14.688 17.718 17.494 4,149 4,028 3.686 53.942 17.050 18.126 17,903 5.202 4.162 3,834 '57.567 721 '13.987 '470 '16.599 ' 4 524 '1,564 "999 '3,539 57,908 711 13.730 472 17.020 4454 1.576 953 3,595 58.046 711 13,715 466 16,934 4 411 1,555 926 3.683 58274 57,825 721 13.702 431 16,959 4 393 1346 905 3.615 57,630 720 13.872 451 17,093 4 361 1.538 896 3,531 58.497 741 14,454 465 16.945 4647 1.594 971 3,786 58,583 718 14,308 455 17,209 4 536 1,603 920 3.849 58.317 741 14,308 453 16,942 4 649 1,652 965 3.778 '58,895 740 14.412 455 17.184 4 717 V689 945 3.757 '58.573 '739 '14.033 '441 '17240 ' 4 608 '1,649 '922 '3,806 59.455 753 14,633 447 17.168 4,725 • 1,645 946 3.872 59,377 754 14,556 446 17,165 4,656 1.59 96 3,90 Firms with 11 or more stores Estimated sales (unadj.), total •"* Durable goods stores Auto and home supply stores Nondurable goods stoies # General merchandise group stores Food stores , Grocery stores . Apparel and accessory stores Eating places ......... Drug stores and proprietary stores Estimated sales (sea. adj). total Auto and home supply stores Department stores excluding leased departments Variety stores ........ Grocery stores Apparel and accessory stores ......... V/omen's clothing, specialty stores, and furriers Shoe stores .. Drug stores and proprietary stores 53297 45,964 41.947 , 718 13.823 472 17.045 4462 1,566 956 3,696 3217 16.709 58508 16,664 16,160 57390 17,039 '4287 ..„., ,.„ ,.,„„ LABOR FORCE, EMPLOYMENT, AND EARNINGS LABOR FORCE AND POPULATION [Thousands, unless otherwise indicated} Not seasonally adjusted: Noninstitutional population, persons 16 years of age and over Resident Armed Forces Z." Civilian noninstitutional population Civilian labor force, total Employed Unemployed Z.ZZZZZZZ. 188,081 125,557 1,688 189.686 126,424 1,637 189,901 127,652 1.640 190,002 126,380 1,601 190.095 126,590 1,570 190,312 126,436 1.615 190,483 126247 1,617 190.592 125200 1,615 190,717 125,672 1,602 190,703 125.903 1.460 190,836 126,183 1,456 190.980 126,315 1,458 191.173 128.559 1,505 191,443 128.931 1.604 191,589 127,713 1,616 191,746 127.029 1,624 „.. 186.393 123,869 117,342 6,528 188.049 124,787 117.914 6.874 188,261 126.012 119,174 6.837 188.401 124,779 117,961 6,818 188.525 125,020 118299 6,722 188.697 124.821 117.611 7211 188,866 124,630 117287 7.343 188.977 123.585 114.990 8,595 189,115 124.070 115.151 8,919 189.243 124,443 115.639 8.804 189,380 124.727 116,678 8,049 189.522 124,857 116,624 8233 189.668 127,054 118280 8,774 189.839 127.327 118,751 8,576 189,973 126.097 117.859 8237 190,122 125.405 117.335 8.070 66.5 66.4 63.0 3,199 114.142 62.7 3,186 114.728 124.705 662 117,690 62.5 3,152 114,538 124,970 66.3 117883 62.6 3.194 114,689 124,875 66.2 117733 62.4 3,175 114,558 124.723 66.1 117,386 622 3,185 114201 125,174 66.3 117,574 62.3 3253 114,321 124,638 66.0 116.922 61.9 3,163 113,759 125,076 66.1 116,918 61.8 3.222 113,696 125.326 662 116,754 61.7 3,098 113,656 125,672 66.4 H7.398 62.0 3,156 114,243 125232 66.1 116,591 61.5 3272 113.319 125.629 662 116,884 61.6 3,308 113,576 125214 66.0 116,712 61.5 3239 113,474 124,904 65.7 116,416 61.3 3266 113,150 125,607 66.1 117,165 61.6 3.306 113,859 1,375 1304 7,015 1,568 7,087 1.605 7,142 1591 7.337 1.727 7.600 1,739 7,715 1,829 8.158 1,975 8,572 2,184 8274 2229 8,640 2,234 8,745 2,573 8,501 2,348 8,488 2.396 8.442 2,362 ...... Seasonally adjusted: 0 Civilian labor force, total Participation rate, percent t Employed total Employment-population ratio, percent t Agriculture Nonagriculture Unemployed total Long term, 15 weeks and over See footnotes at end ol tables. ". October 1991 SURVEY OF CURRENT BUSINESS S-10 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1951-88 1989 1991 1990 Annual 1990 Sept. Aug. Oct. Nov. | Dec. Jan. Mar. Feb. Apr. May June Sept. Aug. July • LABOR FORCE EMPLOYMENT, AND EARNINGS-Continued LABOR FORCE-Continued Seasonalfy adjusted 0—Continued Civilian labor force-Continued Unemployed—Continued Rates (unemployed in each group as percent of civilian labor force in the group): All civilian workers Men, 20 years and over Women, 20 years and over Both sexes 16*19 years 62 5.6 5.3 18.2 6.5 6.3 5.4 17.1 6.8 6.5 5.7 18.7 6.6 62 5.5 18.1 6.9 6.5 5.8 19.1 7.0 6.6 5.9 192 6.8 6.5 5.4 20.6 6.8 6.5 5.7 19.0 5.5 4.1 8.7 12.1 9.3 4.0 4.1 9.0 5.9 11.8 9.5 4.3 4.4 9.1 62 12.3 10.3 4.5 4.8 9.0 5.8 12.6 9.0 4.4 4.5 9.9 6.1 13.0 9.7 4.4 4.6 9.1 62 13.1 9.8 4.7 4,7 92 62 11.8 9.5 4.3 4.3 8.3 6.1 12.3 9.9 4.3 4.4 9.6 6.7 6.5 5.5 18.0 6.0 12.1 11.1 4.5 4.5 8.9 6.3 14.0 6.5 6.6 12.3 6.4 14.5 6.4 6.8 11.9 6.9 15.5 7.4 8.1 11.5 7.2 14.1 7.6 82 13.8 7.0 15.0 7.6 8.3 9.9 72 14.7 7.4 7.7 11.2 7.4 15.6 82 8.4 8.5 6.2 13.3 6.5 6.9 9.8 7.1 16.7 7.0 7.1 11.5 7.0 15.1 7.2 7.4 11.9 6.9 15.7 6.6 6.7 10.9 2.0 4.5 7.1 6.5 92 7.0 2.1 Z7 2.4 2.5 5.0 7.2 9.1 12.3 10.3 52 7.5 9.6 13.0 10.5 7.9 8.8 12.3 112 2.4 4.9 6.7 62 11.0 6.4 2.8 52 7.4 7.6 9.8 5.8 2.9 5.1 7.5 7.2 10.4 5.8 3.1 5.0 7.1 3.3 5.1 7.1 7.1 9.2 6.8 3.1 4.4 6.6 7.1 9.9 8.2 52 5.4 22 4.3 6.5 5.6 8.0 5.1 109,900 92,714 110,478 92.412 110,721 92,128 110,691 91,937 110.409 91,756 107,979 89,646 107,887 89204 108,147 89.373 108,590 89,825 109,304 90.493 109,971 91,649 72,538 24,958 711 5,136 110,160 91,839 72,726 24,937 713 5,111 110,113 91.765 72,742 24,842 711 5,088 109,982 91,638 72,665 24,705 710 5,022 109,761 91,406 72.599 24.481 712 4.962 109,621 91,268 72,519 24,375 715 4,911 109,418 91.053 72.382 24,181 713 4,797 109,160 90,771 72,239 24,039 715 4,792 108.902 90,495 72,052 23,877 714 4,720 108.736 90,312 71,916 23,794 710 4,688 108,887 90.447 72,021 23,847 706 4,715 19,442 11,420 758 526 570 773 1,450 2.130 1,747 2,054 1,028 383 19.111 11,115 741 510 557 756 1,423 2.095 1,673 1,980 1,004 377 19,113 11,111 740 511 555 757 1,430 2,091 1.665 1,987 999 19.043 11,049 733 18,973 11,000 730 505 549 753 1,415 2,074 1,647 1,957 995 375 18.807 10,867 719 18,749 10,828 714 18,532 10,652 696 496 543 747 1,402 2,063 1,636 1,897 991 373 493 539 742 1,395 2,054 1,628 1,902 989 372 18,671 10,770 706 490 532 740 1,389 2,048 1,621 1,888 985 371 527 726 1,365 2,036 1,611 1,859 982 368 18.443 10,584 692 .479 520 724 1,356 2,024 1,599 1,846 978 366 18,396 10,560 692 481 521 723 1,353 2,007 1,597 1,846 976 364 8,022 1,651 8,002 1,668 50 690 1,039 701 1.577 1,094 158 894 131 7,994 1,670 49 721 1,079 697 1,562 1,076 156 891 138 7.995 1,668 49 691 1,043 699 1,574 1.093 158 889 132 1,039 700 1,575 1,096 158 692 130 7,973 1,672 49 678 1.032 699 1,573 1,095 158 889 128 7,940 1,669 49 677 1,023 697 1,568 1,095 159 877 126 7.921 1,672 49 671 1,017 695 1.565 1.095 159 873 125 7,901 1,673 49 667 1,012 696 1,560 1,094 158 668 124 7,880 1,679 49 661 1,010 694 1,553 1,093 158 661 122 7,859 1,679 48 660 1,009 693 1,548 1,091 158 852 121 7,836 1,673 48 660 1.005 691 1,542 1,089 159 849 120 83,007 5,644 6,221 19.549 6,695 27,120 17,779 2,988 4,182 10,609 85,014 5.826 6.205 19.683 6,739 28240 18,322 3.085 4,303 10,934 85,223 5,839 6211 19,714 6,750 28,388 18,321 3,038 4,318 10,965 85271 5.854 6204 19,698 6,750 28,437 18,328 2,994 4,328 11,006 85277 5.855 6,190 19,663 6,746 28,479 18,344 2,980 4,339 11,025 85.280 5,852 6,180 19,628 6,740 28,525 18.355 2.964 4.345 11,046 85246 5,867 6,166 19,579 6,733 28,548 18,353 2548 4,347 11,058 85237 5,866 6,138 19,542 6,736 28,590 1B.365 2,952 4,352 11,061 85,121 5,834 6,119 19.464 6,732 28,583 18,389 2,951 4,354 11.084 85,025 5.824 6.105 19,378 6,735 28,576 18,407 2.951 4,359 11,097 84,942 5,814 6,086 19,324 6.718 28.576 18.424 2.953 4,352 11,119 85.040 5,819 6,085 19,339 6,712 28,645 18,440 2,952 4,348 11,140 85,093 5,809 6.0G8 19,345 6,703 28,712 18,456 2,971 4,359 11,126 '85,061 '5,809 '6,064 '19,347 '6,688 '28,733 '18,420 2,963 '4,338 '11,119 '85,116 '5,818 '6,049 '19,343 '6,685 '28,812 '18,409 '2,973 '4.332 '11,104 '85,177 '5,819 '6.047 '19.357 '6,684 '28,888 '18.382 '2.981 '4,326 '11,075 Production or nonsupervisory workers on pnvate nonfarm payrolls, not seas, adjusted Manufacturing, not seas adjusted 73,400 13,269 74,254 12,974 75237 13,069 74,944 13,071 74,709 12,984 74,526 12,788 74,340 12,694 72,309 12,485 71,903 12,362 72,079 12,319 72.530 12,327 73,188 12,389 73,941 12,491 '73,811 '12,384 '74,035 '12,571 '73,835 '12,605 Production or nonsupervisory workers on pnvate nonfarm payrolls Goods-producing Mining « — *. Construction „ Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, day, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment Instruments and related products Miscellaneous manufacturing 73,400 17,811 494 4,048 13269 7,614 628 419 445 590 1,074 1285 1,104 1279 511 279 74254 17,471 510 3,987 12,974 7,371 610 403 433 574 1,048 1259 1.055 1218 498 274 74,407 17,453 510 3,962 12,981 7,375 608 403 430 575 1,053 1257 1.052 1,230 494 273 74,348 17,368 511 3,937 12,920 7,322 604 401 74,209 17252 512 3,876 12,864 7,287 600 397 426 571 1,041 1244 1,038 1211 488 73.984 17,048 512 3.821 12,715 7,172 590 389 421 566 1,030 1235 1,028 1.158 486 269 73,841 16,958 513 3,773 12,672 7.148 585 386 419 562 1,024 1,228 1,022 1,168 486 73,666 16,787 511 3,672 12,604 7,098 578 384 411 559 1,018 1223 1,014 1,158 486 267 73,172 16,534 511 3,599 12,424 6,956 564 375 400 546 990 1,209 1,000 1,125 485 262 72,983 16,477 509 3,565 12.403 6,948 566 377 401 544 989 1,198 1,001 1,130 481 261 73,121 16,530 503 3,598 12,429 6,964 570 378 400 544 990 1,191 1,005 1.148 478 260 73,147 16,507 500 3,597 12,410 6.943 570 379 400 541 992 1,183 1,004 1,139 475 268 73,378 16,658 512 3,658 12,488 7,000 569 377 406 548 994 1215 1,007 1,135 484 265 '73,196 '16.535 499 '3,588 '12,448 '6,971 573 '375 '40 544 '995 1,177 1,005 '1,163 474 264 '73,225 '16553 '491 '3,583 '12,479 '6,982 '573 '378 '404 '546 '995 '1,178 '1,003 '1,170 '472 '263 '73254 '16,515 '484 '3,577 '12,454 '6,964 '572 '379 '403 '544 '998 '1,176 '999 '1,161 '469 '263 5.5 5.3 4.5 4.7 15.0 4.9 4.8 15.5 5.6 5.0 4.9 16.6 5.7 5.1 4.9 15.7 5.7 52 4.9 162 5.9 5.4 5.1 16.4 6.1 5.6 5.3 16.6 4.5 11.4 8.0 3.0 3.7 8.1 4.7 11.3 8.0 3.4 3.8 8.2 4.8 11.7 7.9 3.5 3.9 8.4 4.8 11.9 4.9 11.7 82 25 3.9 8.5 5.0 122 8.6 3.7 4.1 8.7 5.3 122 9.3 5.3 10.0 5.1 4.8 9.6 5.7 11.1 5.8 5.8 9.7 5.7 11.2 5.8 5.9 9.5 5.8 12.0 5.8 6.0 9.3 5.9 13.0 5.8 5.9 2.0 3.9 6.5 5.2 8.0 6.4 2.1 4.2 6.6 5.8 8.6 6.2 2.6 4.4 6.4 2.5 4.5 6.9 5.3 7.4 5.3 5.8 7.3 Employees on nonfarm payrolls by industry: Total, not adjusted for seas, variation Private sector (exd. government) ., 108,329 90,550 109,971 91,649 Seasonally adjusted: Total employees, nonfarm payrolls Private sector (exd government) Nonmanufactunrtg inoustries . Goods-producing Mining ... Construction 108,329 90,550 71,108 25,322 693 5.187 ... Black .!"Z"!I""ZZ"ZZ"Z!!!Z""1I™""~" Hispanic origin Married men, spouse present .... Married women, spouse present Women who maintain families Industry of 'ast job: Private nonagriculturai wage and salary workers Manufacturing Durable goods Agricultural^wage and saiary workers Not seasonally adjusted: Occupation: Managerial and professional specialty Technical, sales, and administrative support Service occupations .. Precision production, craft, and repair Operators, fabricators, and laborers Farming, forestry, and fishing ...... ... .... 8.5 3.5 3.9 8.7 3.8 122 72 9.9 5.4 52 7.6 7.1 8.7 6.8 EMPLOYMENT § [Thousands] Manufacturing Durable goods Lumber and wood products Furniture and fixtures Stone, clay and glass products Primary metal industries ....... Fabricated metal products .... Industrial machinery and equipment Electronic and other electrical equ'pment Transportation equipment Instruments and related products Miscellaneous manufacturing Nondurable goods ... Food and kindred products ... Tobacco manufactures Textile mill products Apparel and other textile products Paper and allied products Printing and publishing Chemicals and allied products . Petroleum and coal products Rubber and misc. plastics products Leather and leather products ~ » Service-producing „. Transportation and public utilities .. Wholesale trade Retail trade Rnance, insurance and real estate Services Government Federal State Local Set footnotes at end of tatfes. 50 376 508 552 754 1,421 2,079 1,657 1,971 998 376 685 429 572 1,046 1246 1,043 1217 491 273 271 482 109,836 '108,607 '108,655 '109,317 91,294 '91,145 '91,389 '91.194 108,885 '108,859 '108,936 '108,960 90,429 '90,439 '90.527 '90,578 72,051 '72.037 '72.091 '72,164 23,792 '23,798 '23.820 '23,783 '684 '693 '701 704 '4,685 '4,691 '4,695 4,710 18,378 '18,402 '18,436 '18,414 18,426 10,534 '10.546 '10,552 '10,537 10,575 '696 '699 '699 696 697 '481 '481 478 483 483 '523 '523 520 518 519 '721 '723 721 718 721 '1,360 '1,362 1,354 1,359 1,358 '1,981 '1,979 '1.984 1,990 2,003 '1,581 1,586 '1.589 1,594 1,599 '1,862 '1,868 '1,661 1,845 1,863 '967 '966 '968 969 973 '365 365 '367 363 363 '7,884 '7,877 7,844 '7,856 7,851 '1,676 1,681 '1,660 1,677 1,677 '48 49 48 48 50 '671 '671 '671 665 665 '1,031 M.031 1,017 '1,032 1,013 '693 '692 '689 687 690 '1,530 1.532 1,532 1,540 . 1.531 '1.089 1,088 1,084 1,086 1,086 '159 '159 '159 159 159 '861 '860 '857 854 854 '119 '120 123 120 119 260 SURVEY OF CURRENT BUSINESS October 1991 1989 1361-88 S-ll 1991 1990 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, Sept. Aug. 1990 { Oct. | Nov. | Jan. Dec. Uar. Feb. "" I Ju m Apr. | |s*. Aug. July LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued EMPLOYMENT J-Continued [Thoussnds} Seasonally adjusted-Continued Production or nonsupervisory workers—Continued '5.497 '1215 56,591 4,834 4,878 17,083 4,854 24,942 517 841 583 103 656 97 56.640 4.825 4.864 17.081 4,851 25,019 '56,661 4,834 4,861 '17,078 '4,837 '25,051 '56,672 '4,836 '4,842 '17,063 '41822 '25,109 34.0 34.0 44.3 37.8 342 34.3 44.9 382 34.7 34.6 45.0 38.7 345 34.1 '43.9 38.6 34.7 34.4 '44.6 '385 "34.6 "34.5 '44.2 '39.1 40.1 40.3 40.1 402 40.9 40.6 3.7 40.9 '41.0 3.3 40.3 40.4 3.4 40.4 40.7 3.3 3.7 3.8 '41.3 '4Q.9 "3.7 40.7 40.6 40.7 33 392 40.8 3.3 39.7 38.9 415 41.6 40.8 412 40.6 41.2 40.8 39.3 41.3 3.7 40.6 39.3 42.0 42.3 412 41.8 40.7 42.1 41.0 39.7 412 3.7 40.0 '392 '41.9 '42.6 '41.3 41.6 40.7 42.3 '40.6 '39.6 '415 3.2 39.7 39.9 40.1 3.7 40.4 395 40.8 36.9 432 37.8 425 44.8 41.1 37.6 40.1 3.7 40.4 '38.4 41.0 37.0 .43.5 37.6 42.6 '43.9 '41.1 '37.7 '38.4 37.9 '28.4 35.6 322 5.577 1204 36 580 664 525 871 600 104 688 • 105 5.543 1202 36 580 854 522 867 598 104 677 103 5,524 1206 5.506 1208 5.488 1213 35 574 850 521 864 596 103 672 102 36 571 844 522 860 594 102 668 101 36 565 843 522 855 592 102 660 100 5,468 1,213 35 564 842 521 851 591 102 651 98 5,455 1207 35 565 840 519 849 591 103 649 97 5.465 1211 36 570 847 519 844 585 102 654 97 56,980 4,850 4,983 17,445 24,811 56,957 4,852 4.968 17.409 4,886 24,842 56,936 4,854 4,959 17370 4,876 24,877 56,883 4,868 4,946 17.321 4.863 24,885 56.879 4,869 4,924 17277 4,869 24,940 56.720 4.840 4,904 17202 4,663 24,911 56,638 4,834 4,894 17,132 4.862 24,916 56,506 4,825 4,879 17,072 4,851 24,879 34.8 34.5 43.9 39.0 34.8 34.6 44.7 39.1 34.3 342 44.0 38.0 34.3 34.4 44.9 382 34.7 34.6 44.8 38.3 33.7 34.1 44.4 362 33.9 34.3 44.9 37.0 34.0 34.2 44.6 372 40.8 40.8 40.9 41.3 40.9 40.8 40.6 41.3 40.7 40.2 40.4 39.9 40.3 3.8 *""*3.'6 3.6 3.7 40.9 40.7 3.6 3.5 3.4 3.3 Durable goods Overtime hours Lumber and wood products Furniture and fixtures .... Stone, clay, and glass oroducts Primary metal industries Fabricated metal products Industrial machinery and equipment Electronic and other electrical equipment Transportation equipment Instruments and related products Miscellaneous manufacturing 41.6 41.3 3.7 402 39.1 42.0 42.7 41.3 41.9 40.8 42.0 41.1 39.5 41.5 3.9 40.5 39.4 42.3 42.9 41.6 42.1 40.6 42.6 41.3 39.9 41.5 3.8 40.7 392 422 43.0 41.6 42.1 41.1 42.8 41.3 39.9 41.3 3.6 39.8 38.6 412 42.9 41.2 42.1 40.7 42.5 41.0 39.8 41.1 3.5 412 3.6 40.8 Nondurable goods Overtime hours Food and Kindred products Tobacco manufactures t Textile mill products Apparel and other textile products Paper and al'ied products Printing and publishing .. Chemicals and allied products Petroleum and coa! products t Rubber and misc. plastics products Leather and leather products „ .. 402 3.6 40.0 40.1 402 3.6 412 40.0 39.9 Chemicals and allied products Petroleum and coal products Rubber and misc. plastics products Leather and leather oroducts Service-producing Transportation and public utilities .. Wholesale trade Retail trade Finance, insurance, and real estate . Services .................... 5.655 1.181 5.603 1200 5,606 1201 37 623 910 522 867 605 102 694 115 36 593 874 524 873 603 37 592 870 109 526 876 601 103 693 107 55,590 4.688 5009 17 327 4i849 23.718 56.783 4,835 4,985 17,434 4.884 24,646 56,954 4,832 4,990 17,463 4,899 24,770 34.6 34.5 43"0 37.9 44"i 382 41.0 103 688 41891 '5,490 "1210 '5,477 '1,197 36 '575 '867 517 '845 580 '103 658 '99 5,598 1,203 37 588 870 525 873 601 103 691 107 Nondurable goods Food and kindred products Tobacco manufactures Textile mill products Apparel and other textile products Paper and allied products 5,467 1213 36 571 850 f 37 574 '863 "521 '843 '582 '103 661 '98 "35 "575 "862 "522 "843 "582 "102 "662 "97 "56,739 "4,842 "4,849 "17.066 "4,825 "25,157 AVERAGE HOURS PER WEEK § [Hours] Seasonally adjusted: Average weekly hours per worker on private nonfarm payrolls: 0 Not seasonally adjusted Seasonally adjusted . Mining Construction t Manufacturing: Not seasonally adjusted Seasonally adjusted Overtime hours Transportation and public utilities Wholesale trade ~ Retail trade Finance, insurance, and real estate t Services „ - mm 3.9 40.1 39.5 42.3 43.0 41.6 42.4 40.8 42.4 41.1 39.4 ~ 40.7 38.6 40.9 36.9 43.3 37.9 42.4 44.3 41.4 37.9 3.6 3.7 40.8 41.0 39.3 40.0 36.6 43.5 38.9 38.0 28.9 35.8 32.6 38.9 38.1 28.8 35.8 32.6 39.0 38.1 28.7 35.7 32.5 39.1 201.02 165.15 1022 41.39 11.42 1229 29.38 12.46 46.44 35.87 203.47 166.79 1.63 1020 40.50 11.79 12.29 29.48 12.55 48.36 36.68 203.66 166.95 1.63 10.15 40.6 11.84 12.3 29.42 12.53 48.46 36.9 204.7 167.82 1.65 10.19 40.4 11.90 12.32 29.6 12.6 48.99 36.9 122.6 112.0 60.6 139.3 109.6 109.7 109.6 127.4 111.5 116.8 123.3 120. 1402 123.7 109.8 64.1 138.3 106.6 105.5 1082 130.0 115.1 116.3 1236 120.8 145.6 123.9 109.9 64. 137. 107. 106. 108. 130. 115. 116. 123. 120. 146. 392 39.9 36.4 43.3 37.9 42.6 44.6 41.1 37.4 382 42.3 43.8 41.3 37.6 40.9 39.9 36.6 432 38.0 42.7 45.3 41.4 37.5 382 28.9 36. 32.8 3.6 3.5 39.5 38.5 41.8 42.7 40.8 41.8 40.7 41.1 41.0 39.6 3.6 40.0 38.8 3.3 42.3 41.1 42.1 40.7 41.5 41.2 39.3 39.4 38.5 41.0 42.0 40.6 41.6 40.3 41.5 40.8 39.0 40.0 39.9 4Z0 3.6 3.4 375 32 392 382 41.7 41 5 40.7 41.5 41.3 41.4 40.6 41.5 405 402 39.8 39.9 39.3 41.0 41.0 39.3 3.4 3.4 3.6 40.4 3.8 '405 '38.9 '41.4 37.3 '435 '37.9 '432 '43.7 '41.5 '372 40.3 39.0 375 375 425 372 37.6 42.7 43.9 40.6 37.1 38.6 37.9 28.6 38.6 38.1 28.6 38.4 37.9 28.4 382 28.7 38.9 38.4 28.9 35. 3Z 35. 32. 35. 322 35. 325 362 32. 201.1 1642 200.4 163.3 1.6 38.80 11.6 12.1 28.8 12.4 48.62 37.03 199.4 200.6 162.4 ' 163.7 1.65 1.64 9.32 9.23 38.8 38.68 11.7 11.6 11.99 12.09 28.54 28.86 12.44 1Z39 48.88 48.3 37.00 36.86 201.65 164.79 1.65 9.33 38.9 11.7 12.1 29.0 1Z62 4929 36.8 '199.73 '162.92 '1.6 9.53 38.99 11.7 12.06 28.95 12.53 48.78 36.95 1.6 92 38.98 '11.6 11.95 '285 '12.38 '48.57 '36.82 '3925 11.7 '12.02 '28.77 '12.4 '49.0C '36.6 122 103 64 124 102 99 105 130 114 114 121 121 148 120 103 '62. '123 121 '104 40.7 39.5 39.4 36.3 43.0 37.7 42.6 42.9 40.8 36.9 40.6 38.4 37. 40.9 39.9 39.4 36.6 43.5 37.8 42.9 43.9 41.0 37.3 38.5 37.9 28.4 35.5 32.3 38.7 38.0 28.7 35.6 32.5 39.0 38.3 28.7 36.2 32.8 38.7 37.9 28.3 35.7 202.62 165.77 1.66 9.92 39.75 11.78 203.34 166.53 1.67 9.93 39.69 11.90 322 3.4 38.9 41.3 41.4 40.7 41.3 40.6 41.0 40.8 3.8 '402 '39.2 '41.6 '43.0 41.6 '42.1 '40.8 '42.4 '41.0 '40.0 40.3 37.7 39.6 36.4 42.9 40.7 40.3 39.3 36.3 43.5 37.8 42.6 46.0 40.8 36.8 40.6 40.8 39.8 36.4 43.5 37.9 42.6 43.8 41.1 40.8 40.9 39.3 392 392 36.5 43.0 37.6 42.4 43.8 40.6 40.6 382 39.4 36.6 432 42.4 445 40.7 37.1 402 36.7 43.0 45.1 40.9 37.2 38.8 38. 38. '28. 35 32. "41.4 "3.6 '405 '392 '42.0 "42.6 "41.6 "41.9 '40.6 '422 '412 '402 '40.3 '3.7 '405 '395 '41.4 '37.4 "435 "37.7 "43.1 '44.7 '41.3 '37.6 '38.9 "382 "28.7 "362 '32.6 AGGREGATE EMPLOYEE-HOURS § [Billions of hours} Seasonally adjusted: Employee-hours, wage and salary workers in nonagric. establishments, for 1 week in the month, seas adj. at annual rate Total private sector... « Mining Construction Manufacturing Transportation and public utilities Wholesale trade ...» Retail trade Finance, insurance, and real estate Services Government .............. - . 155 202.0 1652 1.6 9.6 402 11.72 12.20 29.04 12.4 48.3 36.84 122 122 2929 12.48 48.69 36.85 2922 12.6 49.1 36.8 200.83 163.84 1.65 9.34 39.35 11.8 12.1 28.7 12.5 48.34 36.99 122. 106. 123. 106. 121. 104. 121 104 120 102 120 102, 64. 65 126 101 98 105 129 114 65 123 100 97 105 129 64 122 100 97 104 127 113 113 119 118 145 '92 "200.63 '164.0 '1.6 '92 '201.64 "164.78 "157 "9.39 "39.14 "11.77 '12.01 "28.89 "12.58 '49.44 " 36.86 [1982=100} Indexes of employee-hours (aggregate weekly) 0 Private nonfarm payrolls, total ~ Goods-producing ..Mining Construction Manufacturing... Durable goods Nondurable goods Service-producing , Transportation and public utilities Wholesale trade Retail trade Finance, insurance and real estate Services « Se« footnotes at end of tables. - - - - — 124. 109. 64. 137. 106. 105. 108. 131. 116. 116. 124. 122. 147. 122. 107. 64. 130. 105. 1042 107. 129. 114. 115. 121. 119 146. 65. 65. 132. 104. 102. 106. 130. 1152 115. 122. 1202 146. 132. 103. 102. 106. 130. 116. 115. 122. 121. 148. 125. 102 100 105. 128. 115 114 120 120 145 114 121 120 146 114 114 120 119 146 121 103 64 124 101 98 105 129 114 114 120 119 147 102 99 '106 '128 '113 112 '119 '117 146 '62 '123 103 100 '107 129 114 '113 '120 '118 '147 "122.1 '1042 '61.0 '124.7 '102.8 '99.9 "106.7 '130.0 "1152 '113.5 '1205 "120.6 '1485 SURVEY OF CURRENT BUSINESS S-12 Unless otherwise stated in footnotes below, data through 1983 and methodological notes are as shown in BUSINESS STATISTICS, Annual 1989 1961-Sfl | October 1991 1991 1990 1990 Aug. Sept. OcL NOV. Dec. Jan. | Feb. Mar. | Apr. | m, June July Aug. | Sept LABOR FORCE, EMPLOYMENT, AND EARNINGS-Contlnued HOURLY AND WEEKLY EARNINGS 5 [Dollars} Average hourly earnings per worker, not seasonally adjusted: Q Private nonfarm payrolls Mining Construction Manufacturing Excluding overtime Durable goods Excluding overtime ... Lumber and wood prodxss Furniture and fixtures ... Stone, clay, and glass products Primary metal industries Fabricated metal products Industrial machinery and equipment ++ Electronic and other electrical equipment tt Transportation equipment $$ Instruments and related products Miscellaneous manufacturing 9.66 13.2 13.54 10.41 10.02 11.0 10.52 8.84 8.25 10.82 12.43 10.57 11.40 10.0 13.67 13.83 8.29 10.02 13.69 13.78 io.a 1037 11.35 10.86 9.09 8.52 11.11 12.92 10.83 11.78 10.30 14.10 11.31 8.61 9.9 13.66 13.79 108 10.33 11.35 10.84 9.1 8.55 11.13 12.96 10.85 11.80 10.32 14.07 11.34 8.59 10.15 13.8 13.9 10.93 10.4 11.49 10.94 92 8.63 1123 13.06 10.95 11.94 10.41 14.30 11.45 8.62 10.14 13.73 13.97 10.94 10.46 11.50 10.99 9.14 8.61 11.18 13.08 10.95 11.90 10.45 14.41 11.46 8.62 10.16 13.82 13.87 10.96 10.44 11.47 10.98 9.11 8.63 1122 13.13 10.95 11.97 10.52 1420 11.48 8.66 10.19 13.88 13.92 11.05 10.57 11.59 11.08 9.11 8.69 11.24 13.13 11.05 12.12 10.55 14.42 11.61 8.80 10.22 1420 14.02 11.05 10^62 11.58 11.15 9.11 8.61 11.23 13.17 11.02 12.06 10.59 14.41 11.64 8.78 1023 14.10 13.93 11 02 io!ei 11.55 11.14 9.10 8.65 11.19 13.02 11.02 12,06 10.58 14.34 11.65 8.70 1024 14.09 13.93 11 06 10.64 11.60 11.17 9.10 8.67 11.20 13.17 11.08 12.13 10.55 14.43 11.69 8.76 10.30 14.12 13.99 1111 10.69 11.65 11.22 9.18 8.70 11.33 13.21 11.11 12.10 10.63 14.55 11.66 8.78 10.31 14.10 13.96 1115 10.72 11.70 1127 923 8.67 11.34 1322 11.15 12.11 10.66 14.74 11.67 8.85 10.31 1424 13.88 11 19 10.71 11.76 1126 9.36 8.75 11.40 13.32 1120 12.16 10.74 14,82 11.68 8.88 10.30 '1420 '13.97 11.22 10.74 11.81 11.32 9.34 8.78 '11.42 13.44 '11.23 '12.17 10.77 '14.91 '11.71 '8.83 10.30 '14.20 14.02 '11.18 '10.67 '11.77 '1126 9.35 8.83 '11.41 '13.41 '1123 '12.13 10,78 ' 14.83 '11.70 '8.84 "1 0.46 "14.38 " 14.13 />1126 p 10.72 '11.85 '11.31 "9.40 "8.87 "11.47 "13.44 "11.30 "1121 "10.81 "14.98 "11.75 "8.92 9.75 9.33 9.38 15.3 7.67 6.35 11.96 10.88 13.09 15.4 9.46 6.59 12.60 10.39 6.53 9.53 9.38 10.12 9.69 9.61 16.29 8.02 6.57 12.30 11.25 13.55 16.23 9.77 6.90 12.96 10.79 6.76 9.97 9.83 10.11 9.65 9.53 16.16 8.05 6.61 1229 11.30 13.58 16.06 9.78 6.83 12.97 10.76 6.73 9.94 9.75 10.19 9.69 9.54 15.92 8.09 6.68 12.43 11.40 13.64 16.40 9,87 6.95 13.08 10.93 6.83 10.10 9.95 1020 9.74 9.54 15.81 8.12 6.65 12.43 11.36 13.74 16.40 9.87 6.96 13.08 10.86 6.83 10.08 9.96 10.29 9.83 9.74 16.51 8.13 6.63 12.53 11.38 13.75 16.59 9.92 6.99 13.09 10.93 6.86 10.12 10.02 10.33 9.88 9.80 15.95 8.16 6.65 12.54 11.44 13.77 16.51 9.96 7.07 13.14 11.04 6.84 10.24 10.11 10.33 9.92 9.78 16.16 8.17 6.64 12.51 11.37 13.87 16.63 10.02 7.09 13.18 11.04 6.90 10.24 10.12 10.31 9.92 9.74 16.12 8.13 6.61 12.51 11.37 13.83 17.01 9.99 7.09 13.17 11.08 6.89 10.30 10.14 10.35 9.95 9.80 17.35 8.16 6.63 12.56 11.36 13.85 17.06 10.01 7.11 13.15 11.06 6.91 10.33 10.16 10.40 9.99 .9.84 17.56 8.20 6.72 12.56 11.43 13.96 17.01 10.02 7.18 13.19 11.12 6.98 10.36 10.19 10.41 10.00 9.93 18.01 8.22 6.73 12.63 11.39 14.01 16.89 10.08 7.15 13.17 11.11 6.97 10.36 1021 10.43 9.97 9.92 18.38 828 6.77 1266 11.44 14.05 16.85 10.08 7.15 13.16 11.19 6.98 10.42 10.19 '10.47 10.00 9.87 '18.31 827 6.79 12.78 '11.49 '14.16 '16.87 '10.11 '7.10 '1325 '11.14 '6.98 10.36 '10.13 '10.42 '9.92 '9.82 '16.65 '8.36 '6.81 '12.73 '11.57 '14.04 '16.80 '10.13 '7.11 '1324 '11.13 '6.97 '10.36 10.14 "10.49 "9.97 "9.86 "16.16 "8.41 "6.85 "12.81 "11.70 "14.14 "17.12 "10.17 "7.16 "13.31 "11.24 "7.07 "10.52 "10.35 Average hourly earnings per worker, seasonally adjusted. 0 Private nonfarm payrolls Mining „ Construction Manufacturing „ Transportation and public utilities Wholesale trade Retail trade Finance, insurance, and real estate Services 9.66 13.26 13.54 10.48 12.60 10.39 6.53 9.53 9.38 10.02 13.69 13.78 10.83 12.96 10.79 6.76 9.97 9.83 10.07 13.76 13.83 10.89 13.00 10.83 6.80 10.04 9.90 10.10 13.85 13.86 10.91 13.03 10.92 6.81 10.12 9.94 10.10 13.83 13.86 10.96 13.05 10.88 6.82 10.09 9.92 10.13 13.88 13.85 10.96 13.07 10.93 6.83 10.12 9.98 10.17 13.89 13.87 10.99 13.11 11.00 6.84 1022 10.03 10.18 14.04 13.95 11.02 13.15 11.00 6.86 10.17 10.03 1020 13.99 13.97 11.03 13.13 11.05 6.87 1022 10.07 1024 14.03 13.97 11.05 13.16 11.07 6.90 10.32 10.13 10.28 14.05 14.05 11.12 13.19 11.08 6.97 1028 10.16 10.32 14.13 14.00 11.15 1324 11.12 6.98 10.35 1024 10.37 14.30 13.98 11.19 13.23 1123 7.01 10.50 10.29 10.36 '1424 '14.01 11.22 '1326 '11.14 '7.03 10.40 '1025 10.40 '14.31 14.06 '11.26 '13.28 '1121 '7.04 '10.46 1029 "10.42 "14.37 "14.02 "1124 "1326 "1123 "7.05 "1054 "10.34 /Doflars per hour] Hourly wages, not seasonally adjusted: Construction wages, 20 cities (ENR): §§ Common labor .....................„ Skilled labor „ Railroad wages (average, dass 1) ......IT. — - 17.82 23.17 15.68 1833 23.92 16.08 1840 24.04 15.98 1851 2426 16.08 18.51 24.28 15.77 1861 24.35 15.97 1861 2436 15.99 18 61 24.61 15.65 18.61 24.35 15.85 1861 2*35 15.48 18.61 2437 15.60 1878 24.54 15.57 1885 24'&4 15.66 18.98 24'.84 '15.70 19 03 24S3 15.80 19.07 25.00 334.24 26422 345.69 259.72 347.42 25927 349.46 258.67 345.42 254.17 348.47 255.66 351.88 257.41 347.14 253.02 349.86 254.81 35021 255.07 349.52 253.83 353.98 256.32 358.80 25925 353.28 254.89 357.76 257.75 "359.49 "258.07 334.24 570.18 513.17 429.68 458.02 39195 490.14 394.82 188.72 341.17 305.79 345.69 603.73 526.40 441.86 468.76 404.80 504.14 411.10 194.69 356.93 320.46 347.30 601.04 537.81 441.05 468.76 407.43 509.72 409.96 197.86 354.86 319.80 353.22 625.09 54623 451.41 480.28 413.71 512.74 418.62 197.39 364.61 325.37 347.80 612.36 530.86 447.45 476.10 410.04 50620 413.77 193.97 357.84 322.70 348.49 621.90 529.83 447.17 473.71 413.66 507.89 415.34 194.82 36027 324.65 353.59 631.54 533.14 456.37 485.62 418.37 513.77 423.94 199.73 370.69 330.60 344.41 630.48 507.52 44421 471.31 409.07 503.48 416.21 190.44 365.57 324.85 346.80 626.04 515.41 439.70 466.62 40621 504.41 417.72 192.92 368.74 327.52 348.16 619.96 51820 443.51 469.80 409.86 503.65 419.17 194.17 367.75 328.17 35020 619.87 528.82 445.51 472.99 410.80 506.50 421.45 197.53 368.82 329.14 352.60 624.63 53327 449.35 476.19 414.32 508.36 423.29 199.34 367.78 329.78 357.76 640.80 537.16 457.67 488.04 41929 514.56 430.62 203.82 37720 334.23 355.35 '619.12 '53924 45329 480.67 '417.75 '515.43 '424.43 '204.51 368.82 '330.24 357.41 '633.32 '543.98 '457.26 '484.92 '422.01 '515.04 '425.17 '20422 '369.85 331.58 "361.92 "645.66 "552.48 "465.04 "495.33 "426.94 "520.42 "431.62 "202.91 "380.82 "337.41 Nondurable goods „... Excluding overtime .... Food and lundred 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 misc. plastics products Leather and leather products Transportation and public utilities Wholesale trade Retail trade Finance, insurance, and real estate Services {DoBars] Ava weeldy earnings per worker, private nonfarm: 0 Current dollars, seasonally adjusted „ 1982 dollars, seasonally adjusted t .'• Current dollars, not seasonally adjusted; Private nonfarm. total Mining Construction Manufacturing Durable goods Nondurable goods Transportation and public utilities „ Wholesale trade Retail trade „ „„ Finance, insurance, and real estate Services -.„».„... EMPLOYMENT COST INDEX @ (June 1939=100] Total compensation: Civilian workers t Workers, by occupational group: White-collar workers Blue-collar workers ..„„. ,...-..„. ......... Service workers „..*. „...„...„„ .„„.,„„„,„.... Workers, by industry division: Manufacturing .....„......„, ..,„...„.... Nonmanufacturing „ „....".. ZZ"..... Services Public administration „.„ Wages and salaries: * Civilian workers t .. Workers, by occupational group: White-collar workers Blue-collar workers Service workers . „„ _ „ Workers, by industry division Manufacturing Nonmanuiaetunng Services ......... Public administration „,„„„... .„ .............. ,...„ „ mt ,.„.„,. .,„ .............. .,„„ „.„., ,„ ................ ............. „ 4 106.9 107.6 109.1 1102 mi 107.5 105.8 106.6 1083 106.5 108.0 ................ 1098 108.0 109.4 110.8 1092 110.4 112.1 1103 112.3 106.4 .,..,.....„... ............... , 107.0 109.0 „, 107.8 „ 107.2 107.8 1102 108.7 106.0 106.8 108.0 108.9 106.8 104.7 105.6 107.4 105.4 106.8 108.7 106.6 107.8 109.6 107.4 108.9 105.4 1062 108.1 106.5 1062 106.9 1092 107.3 * * " " " • " ' * " 108,6 109.4 111 5 110.8 „„„ " " ( i t !!.'........ Z ! 107.4 108.1 1102 109.1 97 95 twmtmmn ii4 t „„.,., "...Z'Z". „„,„„ .I!".!......... 110.0 110.3 112.0 1103 it ""!.„.., Z"Z"1.' „„,,„ , . " ! " - ,. „ • HELP-WANTED ADVERTISING Seasonally adjusted index. 1967=100. 5e« homes at end of towe*. „ 151 128 127 122 116 107 108 100 95 94 96 1112 111.7 1138 1122 110.0 108.4 109.0 1107 1&5 „. 92 91 110.8 1082 110.6 109.3 1102 1124 110.6 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-68 | S-13 1991 1990 Annusl 1990 Aug. | Oct. Sept. | Dec. Nov. Jan. | Feb. | M if. | Apr. I May I July June | Aug. | Sept. LABOR FORCE, EMPLOYMENT, AND EARNINGS-Continued WORK STOPPAGES Work stoppages involving 1,000 or more workers: Number of stoppages: Beginning in month or year, number Workers involved in stoppages: Beginning in month or year, thousands Days idle during month or year, thousands 51 44 5 3 2 3 2 0 2 1 7 7 5 0 -4 3 452 185 10 429 3 451 11 484 4 436 0 354 3 240 2 257 298 823 19 533 37 462 0 '280 6 '283 1 272 1,364 2,734 16,996 5,926 31 684 17,126 2.154 20,184 2,514 1,451 2241 UNEMPLOYMENT INSURANCE t T State programs: Initial claims, thousands Average weekly insured unemployment, thousands Rate of insured unemployment, percent @ Total benefits paid, mil. $ Weeks of unemployment compensated, thousands Average weekly benefit, dollars 1221 2,140 1,755 2230 2,039 2.452 2,483 2,976 3,065 3,940 2,065 4,020 1,952 3,996 1,868 3.805 1,641 3.212 1,497 3,127 2,028 3.214 '1,520 '2,938 22 2.4 2.1 1.9 2.1 2.3 2.7 4.1 3.5 37 3.6 3.0 2.9 3.0 2.8 14,260 97,937 151.68 18.058 115,957 161.64 1.430 9,189 160.46 1,178 7,527 162.11 1,402 8.859 163.89 1,482 9.416 163.56 Federal civilian employees unemployment insurance (UCFE): Initial claims, thousands Average weekly insured unemployment thousands Total benefits paid mil $ Weeks of unemployment compensated, thousands Average weekly benefit, dollars 114.4 22.1 143.5 1,085.6 13221 131.7 24.1 159.0 1,0775 148.04 10.8 102 232 23.3 11.5 13.8 32.0 1169 15.1 104.7 644.0 162.57 1329 18.4 131.7 773.3 170.58 Veterans unemployment insurance (UCX): Initial claims thousands Average weekly insured unemployment thousands Total benefits paid, mil. $ Weeks of unemployment compensated, thousands Average weekly benefit dollars 13.3 90.9 146.32 145.03 19.6 28.4 15.7 107.8 145.79 124 103 12.0 16.7 10.4 60.1 173.20 1L3 95 54.4 175.19 11.6 66.6 174.00 792 1,737 10,903 16525 2.529 15,818 166.83 115 15.3 38.9 121.7 14623 34.7 18.9 129.4 146.35 10.4 18.4 11.5 65.3 175.45 18.8 11.3 64.1 17557 205 132 74.9 176.03 54,771 557,811 420,398 221,362 199 036 137,413 56,498 568.723 419,541 216,148 203 393 149,182 178 94 232 155.9 149.14 112 2,525 15.321 170.45 2.486 15,142 170.01 9.0 7.6 36.1 19.8 130.6 151,87 32.1 18.3 121.5 15058 9.7 285 2.382 14.514 169.51 80 83 175.60 16.7 9.9 56.8 17451 52,831 565,941 421,749 222,169 199580 144,192 48,795 561,923 415,705 225,990 189715 146218 18.3 . 10.4 595 16.9 1102 153.41 2,242 13,628 170.47 2,135 13,030 169.16 '1,910 '11,629 M 69.01 1,684 10,202 170.97 16.0 28.8 169 1092 155.02 '9.9 '29.3 "17.3 '112.4 '153.72 10.4 29.9 16.3 108.6 150.18 '152 '22.8 '14.0 '78.2 '17853 141 9.1 105 24.0 14 7 97.1 151.70 24.7 13.1 153.64 105 108 855 55.7 174.40 14.7 8.9 51.1 174.31 16.4 8.8 49.4 178.06 15 3 19.8 122 67.0 18154 47,086 553204 401,510 214,036 187474 15U94 46,438 541,279 393.925 206,507 187418 1471354 45.539 539,717 395,980 206278 189702 143J37 541,130 396,818 205.443 191 375 144,312 9.'J 2.6 1.867 11.337 170.49 24'.8 15.6 82.1 190.44 FINANCE BANKING [Millions of dollars) Open market paper outstanding/end of period: Bankers' acceptances Commercial and financial company paper, total Financial companies Dealer placed Directly placed Nonfinanctal companies Loans of the Farm Credit System: t Total end of period .. Long-term real estate 'oans Short-term and intermediate-term loans Loans to cooperatives 62.972 521.B59 398,456 188,580 209 876 123,403 54,771 557,811 420,398 221.362 119036 137.413 52.324 547,364 402.570 198.900 203 670 144,794 50,469 561,773 410,134 206,734 203400 151.639 50,707 30,245 10.020 10,442 51.172 29,416 10,673 11,083 „,.. 51,110 29,440 10.977 10,693 ... Federal Reserve banks, condition, end of period: Assets, total # Reserve bank credit outstanding, total # Loans U.S. Government securities Gold certificate account ....... Liabilities, total # Deposits total Member-bank reserve balances Federal Reserve notes in circulation 52,093 558,375 404,718 199.092 205626 153,657 53.968 555,994 408,578 205.203 203 375 1471416 50,849 29.072 10.474 11,304 51,172 29.416 10.673 11,083 .,„, **"" " 51,079 29.152 11190 10,737 ... ... ,„.., 531.582 ,„„„„, 395.968 206,452 .„ 189516 135.614 „,„ , „.„, t , „ 304,465 327,573 310.386 311,031 315,881 318,871 327573 326206 325.016 315,305 318.978 317,879 318,604 320,401 319.763 321,636 236,991 262,002 244,450 243,082 245.851 252279 262,002 258,471 260,090 250,069 251,848 254,985 258,636 261,991 264,528 481 190 465 505 591 131 190 180 506 244 291 206 574 250.978 11,062 844 254,959 11,062 258.554 11,062 228,367 11,059 252,103 11,058 236,434 11,065 234,373 11,063 237,763 11,060 244,985 11,059 252.103 11,058 249,194 11,058 251,404 11.058 240.965 11,058 244,493 11.058 248,111 11,057 256,813 1479 248,446 11,062 304,465 327,573 310.386 311,031 315.681 318,871 327,573 326206 325,016 315,305 318,978 317,879 318,604 320,401 319,763 321,636 46,430 38.327 241,739 48228 38.658 267,657 40 600 35,592 253.544 42206 33,834 252,738 44226 34,546 255,860 43 331 37,359 260243 48228 38,658 267,657 48165 19.902 263,751 46505 22,109 265,915 35 405 24.067 267,391 36330 22.081 267,445 33263 26223 271.019 34460 22202 272,000 34228 27,871 272,962 31200 23,962 275210 36000 27,404 273,809 '62,810 61r8S8 *922 *265 3 677 59,150 57,456 1,665 60.728 59,860 61,452 60,544 61,052 60,206 62,045 61,099 947 230 741 48.551 46,743 1,809 48,536 47,408 1,179 50,301 49271 1,030 49,063 48,033 1,029 50,407 49,399 1,008 50,607 '49.521 '1,086 1,362 847 410 455 50.992 48,824 2,168 51.127 50,198 909 624 291 59.150 57.456 1,665 50,660 49,754 868 927 68 248307 197.212 7248 1,865 24.251 278 721 218263 9.315 4,831 28,334 213.251 171,072 5,405 1,440 18,840 225626 180,117 6,067 1,902 21.654 224 787 1791672 6,844 2,249 20,545 79238 704.060 666.397 91,138 797,701 762,580 77,478 752,705 715.253 81,627 755,176 719.144 79,367 755210 718,955 315 All member banks of Federal Reserve System, averages of daily figures: 0 Reserves held, total Required « -« ......... Excess JZ!ZZZ!ZZZZ Borrowings from Federal Reserve banks ...... ZZZ Free reserves Urge commercial banks reporting to Federal Reserve System, last Wed. of mo.: Deposits: Demand total* .. Individuals, partnerships, and corporations States and political subdivisions ~......... .... U S Government Depository institutions in U.S ..... Transaction balances other than demand deposits Nontransaction balances, total lfioiviou3»si 09iin©rsntp& oou corporsyons **+•»*»**•••• J Loans and leases(adjusted),total § Commercial and industrial For purchasing and carrying sec unties To nonbank depository and other financial . Real estate loans . To States and political subdivisions Other loans 994.060 318,691 16261 22,334 352.500 24,940 259,334 Investments, total U.S. Treasury and government agency securities, total Investment account Other securities „. 223,349 156,556 140.002 66,793 See footnotes at end ol tables. 326 326 534 252 1,362 1,661 2,971 241 991 231 885 303 814 340 676 906 607 345 217211 173,925 6.427 1,038 19,915 278,721 218263 9,315 4,831 28,334 214004 172260 6,755 1.491 18,915 216608 173',674 6,787 1,627 17,995 218 174 173,616 6.942 1,662 18,984 214429 170J91 7,119 3,362 18,319 225187 178,770 6,411 1.401 22,864 219504 175',648 7.132 1,602 19.573 211579 171,652 6,626 1,727 18,020 78,354 753.989 717,983 91.138 797.701 762580 82,988 793.096 757267 84,413 798,314 760,759 86.607 797,660 760,265 1,072,019 1,017,024 1,019,094 1,020,546 1,017.693 1.072,019 1,052,816 1,048.748 1,048.489 316.930 320,763 319.601 321,314 317,459 318.909 319.458 317,473 321514 12.982 13,129 14,020 14.407 15,143 13.469 14262 13,129 14.540 22519 24.462 22,647 24,090 22,632 23,308 23,975 23.358 24,462 400,607 400,812 401,912 379,229 381,394 382,568 383,842 393,753 398,753 21,054 20,802 21.977 20,5321,415 21,054 21,093 21.978 22.454 278,070 268,709 270,828 260262 258.298 258.046 257,635 293,307 293,307 238,932 177.816 167,790 61.116 245,197 182,874 165,720 62,323 245.127 183,404 165,754 61,723 245,162 184.057 167,856 61,105 240.951 180,785 166506 60.166 238,932 177,816 167,790 61.116 243,445 182,652 170.890 60.793 247513 186,969 172.729 60.544 249.302 189,308 176,704 59,994 '622 929 645 536 216,086 174,760 6.609 1299 18,887 218221 173.948 7,304 1,610 19243 764 90.002 87.272 89,716 88,425 86,718 88,311 791,541 792,717 788,263 792.527 791.441 784,509 754312 754,706 751.858 757,146 756,847 750^59 1,047,474 1,041,535 1.039.347 1,020.070 1,015,162 1,015,986 316.851 312.354 308.751 302509 298.398 297275 14,315 12,672 13,917 13.767 12,979 11,463 21,987 21,694 22205 22,655 21.928 21.670 403,664 404.774 404,012 399,870 396,910 396,960 18,343 18,578 18,719 19,910 20.402 19,199 271.650 263.525 270.813 265,839 264.474 269,042 250.366 191.684 177,868 58,682 250.457 192,765 179,583 57,692 253286 195.194 180.073 58,092 253,879 197,169 182252 56,710 259,765 203.357 186.968 56,408 263.841 207.410 189,404 56,431 SURVEY OF CURRENT BUSINESS S-14 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, i&i-ea Annual 1989 | October 1991 1991 1990 1990 Aug. | Sept | Oct. | Nov. | Mar. Apr. ] May Dec. Jan. Feb. | 2,721.2 454.1 2,089.4 2,735.1 458.0 177.6 2,099.5 ••2,751.0 471.4 177.6 2,102.0 '2,751.8 479.2 175.7 '2,096.9 June Jury Aug. | SepL '2,750.5 '485.1 173.9 '2,0915 '2,7632 '495.2 173.1 '2,094.8 '2,763.3 '505.3 '172.0 '2,086.0 2,761.6 512.6 1699 2,079.1 2,768.9 522.1 170.8 2,076.0 FINANCE-Continued BANKING-Corrtinued (Billions of dollars} Commercial bank credit seas, adj.: § Total loans and securities 0 U.S. Government securities Other securities Total loans and leases 0 .•. . 2,582. 394. 180. 2,007. .. ..;. , „ „ "..„ 2,723. 454.2 175. 2,093.8 2,704. 445. 178. 2,080. 2,708. 450. 178. 2,079. 2,713.6 453. 177.8 2,082.7 2.716.6 454.0 175.9 2,086.7 2,723.6 454.2 175.6 2,093.8 10.0 10.0 mi [Percent} Money and interest rates: Prim© rate charged by banks on short-term business loans 10.00 10.00 10.00 9.52 9.05 9.00 9.00 8.50 8.50 8.50 850 820 6.93 6.98 7.0 7.00 7.00 7.00 6.79 6.50 6.00 6.00 5.98 5.50 550 5.50 550 520 9.77 *9.8 *9.68 *9.73 9.75 9.7 9.60 9.70 9.68 9.67 9.61 9.69 9.45 9.58 9.36 9.54 9.28 9.49 9.16 9.26 924 924 926 923 9.18 9.12 9.12 9.12 9.19 9.10 8.8 8.1 8.8 7.93 7.95 7.53 7.75 7.77 7.46 7.63 7.83 750 7.85 7.81 750 7.82 7.74 7.42 7.60 7.49 6.95 6.96 7.02 659 6.36 6.41 6.14 624 6.36 620 5.92 6.07 5.91 5.75 5.94 5.72 5.94 6.16 5.75 5.89 6.14 5.81 5.54 5.76 5.50 5.38 5.59 5.34 8.120 7510 7.440 7.380 7.190 7.070 6.810 6.300 5.950 5.910 5.670 5.510 5.600 5.580 5.390 5250 ...... 730.901 748.300 736,480 738,946 736,091 738.626 748,300 736,399 729,264 725,462 727,907 727,717 728,023 '727,754 731,091 . 342,770 140,832 93,114 44,154 57,253 3.935 48,843 347,466 137,450 92,911 43,552 45,616 4.822 76.483 340,525 139,496 93,071 39,557 51,822 4,722 67,287 342,698 140,890 92,996 38,963 50,683 4,723 67,993 341,755 141,329 93,190 38,282 48,055 4,749 68,731 342,882 139,195 92,918 39,095 47,121 4.753 72,662 347,466 137,450 92,911 43,552 45.616 4,822 76,483 341,426 134,965 91,991 40,945 44,939 4.766 77,367 339282 133,021 91,131 38,864 43,875 4,404 78,687 335,754 131,552 90,772 38,497 42.491 4,296 82,100 336,425 133,462 91,413 37,817 41,707 4,357 82.726 334.746 134.045 91,549 36,782 40,764 4507 85,324 333,442 '334273 133,903 134,120 91,924 '92,017 36.702 36,392 39,827 39,012 4,712 4,591 87,634 '87228 335,782 , 135,509 92,020 ,„,„,„, 37.296 ,„„,,_ 38,156 4.857 ................ 87,471 290,705 210,310 22.240 207,646 284,813 232,370 20,666 210,451 289,371 216,633 21,185 209,291 289,169 218,279 21,195 210,303 287,304 218,337 20,773 209,677 285,379 222,643 20,472 210,132 284,813 232,370 20,666 210,451 282,214 223,606 20.614 209,965 279,913 220,714 20,362 208275 277,798 221,400 20.030 206,234 277508 222,627 20,052 207.720 275582 224,301 19,721 208,113 275,018 '274222 225,596 '226,145 19.875 '19,639 207,534 '207.748 273,875 229.146 „„, 19.495 208,575 10.8 Discount rate (New York Federal Reserve Bank) @ 10.0 Federal intermediate credit bank loans „ Home mortgage rates (conventional 1st mortgages): New home purchase (U.S. avg.) Existing home purchase (U.S. avg.) _ 3 Open market rates. New York City: Bankers' acceptances, 3-month „.„ Commercial paper, 6-month $ _ Finance GO. paper placed directly, 6-mo Yield on U.S. Gov. securities (taxable): 3-month bills (rate on new issue) CONSUMER INSTALLMENT CREDIT t [Millions of dollars] net seasonally adjusted. Total outstanding (end of penod) # „ Commercial banks Finance companies Credit unions Retailers... Savings institutions Gasoline companies * Pools of secunbzed assets f t Dkl MAiah* M . J i frl „ jn.-"l By major credit type Automobile Revolving * Mobile home * Other • ..... Seasonally adjusted. Total outstanding (end of Denod) # Bv maioc credit tvue Automobile Revolving ., Mobile home _ Other • ...„. „ Total net change (during penod) # Bv maior credit tvrje Automobile Revolving .. Mobile home .. Other • - - » 733,844 735.547 735,433 736,411 735,102 732,962 732,762 732,442 733,621 732,289 730,591 '729,962 728.671 286,818 217,024 21,191 208.811 285,627 219,090 21,073 209,758 285,024 220,031 20,680 209,698 284,412 221,690 20,492 209,817 284,585 220,110 20,919 209,487 283.746 219,588 20,459 209,170 282,626 221,556 20200 208,379 280,689 224,817 20,123 206,813 279,746 225,994 20,098 207,782 276,494 227,301 19,796 208,697 274,496 '273,565 227.737 '228,199 19.907 '19,615 208,451 '208,582 271,594 229,375 19,522 208,179 1,094 1,703 -114 978 -1,309 -2,140 -200 -320 1,179 -1,332 -1.698 '-629 -1291 -1,318 1,905 -20 527 -1,191 2,066 -118 947 -603 941 -393 -60 -612 1,659 -188 119 173 -1,580 427 -330 -839 -522 -460 -317 -1,120 1,968 -259 -791 -1,937 3261 -77 -1,566 -943 1,177 -25 969 -3252 1,307 -302 915 -1.998 111 -246 '-931 '462 '-292 '131 -1,971 1,176 -93 -403 100,713 99 023 i!690 67,657 93834 -26J77 64,805 105876 -4i|071 140,380 1102^9 30,131 63560 116906 -53J346 103,389 105849 -2/teo 78593 119 384 -40J92 76,426 119080 -42553 -1,690 31,764 33,524 26,177 34,611 8,531 436 ,„, ti "...ZZZ FEDERAL GOVERNMENT FINANCE (Millions of dolta/s} Federal receipts and outlays: Heceipts (net) Outlays (net) Total surplus or deficit (-) Federal financing, total Borrowing from tft© public Other ^ „ . ~ „ Gross amount of debt outstanding Held by the public „._. „ „,. ., "" '1,031,308 ' 1,251 766 '-220>58 78,462 131181 -52J19 102,939 82012 20,775 76986 108.270 -31,285 70,507 118142 -47^635 101,900 82160 -7,311 '151,989 '140,369 '11,620 '220,458 '298,824 '10,796 52,719 47,329 -5,425 -20,778 -2,595 20,848 31,285 32,265 803 47.635 46.776 -1,274 7,311 19.700 12,389 '990,701 '445,690 '103,291 '359,416 '82,392 '1,031,308 '474,235 '96,945 '388,944 '96.369 78,462 36,434 1,608 32,047 8,397 102,939 46,664 17,344 31,010 7,856 76.986 40,691 1,614 26,598 9.807 70,507 27,156 134 33,723 10,646 101,900 46,471 22,523 25,480 7.792 100,713 50,882 3,829 39.604 7,487 67,657 27,929 2,495 29,872 7,361 64,805 11268 12,807 33,045 7,665 140,380 77,768 13,296 42,478 6,838 63,560 20,005 2,032 34,546 6,977 103,389 44,517 16,540 34,758 7,574 . 78,593 38,403 1,770 30,360 8,061 '1,142.691 '48.414 '294,876 '399,774 '230,573 '11,036 '30.041 '1,251,766 '50,117 '296,559 '449,829 '261,117 '13,164 '30,575 131,181 2,346 27,805 59,467 18,529 1,140 3,619 82,012 3,320 20,522 14,730 16,281 948 1,202 108,270 4,818 24,094 36,734 15,561 1,351 2,886 118,142 6.474 29,021 39,360 19,345 1,155 4,018 62,160 5.353 25.168 38,133 46,544 1,396 2,428 99,023 4553 20.668 38,931 17,165 851 948 93.834 3,145 24,940 39,162 18,754 1,063 2,576 105,876 5.051 14,852 39,555 19,860 1.139 2,716 110249 5,208 20.841 41,445 17,714 1220 3,184 116,906 5.061 24,091 43,040 22,821 1235 3,668 105,849 3318 21,090 42,792 47,297 1.030 1,164 119,384 119.080 '" '" * 4,029 „,.„„, n 23,066 41,897 "' 43271 Irt,,,, 19,136 16,646 "' ™ 1,089 1201 2,654 3,659 11,059 381.28 11,061 384.08 11,065 395.03 11.063 389.46 11,060 380.74 11,059 381.72 11,058 378.16 11,058 383.64 11,058 363.83 11,058 363.34 11,058 358.39 11,057 356.82 11,062 366.72 11.062 36751 •-•35623 ""•348.79 5.499 4519 4.982 4.790 4.366 4.169 4.068 4.028 3.723 3.960 3.970 4.040 4.390 '2.881,112 '2,204,270 » Federal receipts by source and outlays by agency: Receipts (net), total „ Individual income taxes (net) Corporation income taxes (net) Social insurance taxes and contributions (net) .-.. Other .,.„.. '990,701 M 142691 '-151,989 „. Outlays (net), total „ „„ Agriculture Department Defense Department, military _.....„..„..„,„ „ ..... Health and Human Services Department „,.. Treasury Department _...... National Aeronautics and Space Administration '"... Veterans Affairs Department „ 40,792 42.653 2.460 34,434 32,574 10,715 -6,357 -10,079 8255 '3,266.073 3543261 3,266,073 3,307,748 3,363205 3,397,325 3,443,129 3,488,624 3.491,694 3,470,530 3,522261 3,562,942 3597294 3,636,298 '2,470,166 2,471,927 2,470,166 2,502,431 2,549,207 2.568,907 2,600,015 2,634.626 2.624,714 2,615217 2,656,959 2,667,674 2,702,107 2,734,682 ,„,„,. 41,071 -9.913 -50,758 -30,131 -9,399 20,732 53,346 41,742 -11,604 „ 76,426 ¥ ,„„.... 34,560 *„„,„, 1,306 ^ ' 31,504 9,056 ,„,„„ m GOLD AND SILVER: Gold: Monetary stock, U.S. (end of period), mil f Price at New York. dol. per troy oz. %t Silver: Price at New York, oW. p&f troy oz. %% S Mtoomotesat «nd cl ttfes. 4.300 3.940 SURVEY OF CURRENT BUSINESS October 1991 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-68 1989 | S-15 1991 1990 1990 Aug. | Sept. | Oct. | Nov. | Dec. Jan. Feb. Mar. Apr. | May 1*1** Sept FINANCE-Continued MONETARY STATISTICS [Billions of dollars) Currency in circulation (end of period) • , Money stock measures and components {averages of daily 'lures): t s (not seasonally adjusted): L (M3 plus other liquid assets) . Components (not seasonally adjusted): Currency .. Demand deposits Other checkable deposits $t Overnight RP's and Eurodollars 6 ..".! "Z.1J General purpose and broker/dealer money market funds . Money market deposit accounts ............ Savings deposits _...,. .. Small time deposits @ Large time deposits @ Measures (seasonally adjusted): M1 . . „, M2 ,„„.„ M3 L (M3 plus other liquid assets) "Z. Components (seasonally adjusted): Currency Demand deposits Other checkable deposits ++ Savings deposits Small time deposits @ Large time deposits @ 260.4 287.0 783.4 3,130.3 3.990.8 4,7922 8 3,2932 4,091.4 4,929.6 217.6 280.4 278.1 79.2 277.1 476.3 405.4 1,109.0 565.3 2355 277.5 2912 81.1 332.0 501.1 410.9 1,155.7 533.9 287.0 271.9 817.6 818.9 814.5 3.310.4 3,317.1 3,322.1 4,1082 4,107.2 4,106.5 '4.932.7 '4,954.4 '4,9515 239.4 276.8 289.4 82.9 334.6 241.0 2782 291.1 81.7 3392 1,1602 530.4 1,1595 524.3 4 242.8 278.0 288.4 83.9 341.1 '•^918.2 1,1612 518.3 844.3 826.1 3,327.7 3,342.3 4,116.0 4,123.8 '4,965.7 '4585.8 8332 3,342.1 4,1305 '4,999.9 823.4 3,345.9 4,1485 '5,001.3 249.6 289.9 297.0 74J 3455 249.6 277.7 297.9 72.0 3542 252.7 '268.0 294.9 71.0 362.3 255.6 270.1 3015 70.1 370.0 'Igi75 "925.4 1,164.7 1,163.8 5095 5142 "942.5 836.4 826.7 3.331.8 3,3552 4,124.7 4.1605 '4,983.7 '5.010.7 245.7 280.5 291.9 782 343.4 4« 4 , 1,159.8 1,1602 515.9 507.1 825.4 821.2 821.8 816.5 823.3 3.309.7 3,3215 3.324.7 3.324.0 3.3282 4.103.3 4,109.0 r 4.109.4 4,108.9 4.111.8 "4,934.5 '45555 4.955i ' 4,960.9 "4,9672 238.4 278.0 292.1 "918.6 1,158.3 5292 2415 279.1 293.0 "919.6 1,160.1 521.9 243.9 277.1 291.8 "9182 1.161.4 515.1 245.0 2772 292.8 "917.8 1,161.8 512.5 246.4 276.9 293.7 "916.7 1,164.2 507.1 2915 286.7 251.6 272.9 293.9 "917.1 1,1635 511.9 255.1 276.1 2965 "9265 1.162." 516.0 835.0 852.8 3,375.1 3.397.9 4,168.3 4,1805 •5,008.3 '4,988.6 '841.5 3,376.6 4,155.1 '4.941.1 '857.6 '3,395.0 '4,161.4 '4,970.7 861.9 3,395.1 •4,1522 •4,977.3 8642 3,393.3 •4,151.8 4575.7 8672 3,387.3 4,136.8 256.0 277.6 311.7 70.8 3685 257.4 271.5 304.9 69.7 3605 259.1 279.6 310.8 69.3 358.0 2605 '280.6 311.9 '66.6 '262.0 278.7 3145 '69.6 351.6 1,129.8 O 1,122.1 '489.6 1,112.4 '485. 2615 2785 318.6 68.6 349.3 3 () 1,000.3 1,102.0 478.0 851.6 842.1 843.0 3,375.9 3,384.3 3,397.2 4,169.0 4,171.3 4,173.9 '5,010.1 '4.977.3 '4,956.3 858.4 3,402.1 '4,1665 '4,980.3 '859.6 '3,3915 '4,149.4 4584.4 '3.3925 '4,146.6 45772 2565 257.6 281.0 '3115 "981.0 1,129.1 '498.8 258.9 '2785 314.1 "990.0 '1,118.6 '491.1 262.4 '260.8 279.4 2795 320B' '318.0 " 9 9 6 2 ''1.002.7 1.110.3 1,102.3 '4845 475.8 1.1575 510.9 256.7 277.1 301.0 "939.7 1,158.3 511.5 4 1,150.3 504.4 256.6 275.8 301.9 "953.8 1,1502 507.3 1,140.0 503.4 278.7 308.1 "969 1,140.5 503.9 4» 870.3 3,392.3 4.139.1 PROFITS AND DIVIDENDS (QTRLY.) [Millions of dotlais] Manufacturing corps. (Bureau of the Census): Net profits after taxes, all manufacturing Food and kindred products Textile mill products „ Paper and allied products Chemicals and allied products .... Petroleum and coal products Stone, day, and glass products Primary nonferrous metal ...„ Primary iron and steel Fabricated metal products . .......... Machinery (except electrical) .. Electrical and electronic equipment Transportation equipment (except motor vehicles and equipment) Motor vehicles and equipment.. All other manufacturing industries Dividends paid (cash), all manufacturing .... 136,490 16.545 1,416 7,047 24,523 19,512 1,968 3,785 1,512 5.515 9.666 9,663 112,611 16,061 422 4,844 23,367 17,580 1,106 2,410 577 4,721 11,156 7,186 '29,570 '5,117 '1214 '6254 '5.061 '564 '689 '319 '1278 '2.576 '2,015 '18.772 '2295 '-20 '614 '5,316 '4,843 '-474 '170 '-521 '491 '3,347 '309 4,315 8.349 22,674 65244 4,921 -582 17,829 63,815 '1,588 '-1,933 '4,692 '14,759 '870 '-2,105 '3.637 '15,958 125,047 29,002 127,971 34,332 11228 7,478 14,066 1227 8296 1,119 10,332 2,360 14.397 1,977 '7,800 '1,806 '2,277 34,320 28210 30,350 29.640 28,650 27,820 28210 27^90 28.860 7.040 18,505 8.050 19285 7,140 16,745 7285 16.185 7,245 15320 7.300 17,025 8,050 19285 7,435 18,825 7.190 19,435 66.0 65.5 64.8 64.8 672 67.6 67.6 8,83627 10,892.70 977.60 675.60 794.07 820.3: '136 22,982 5.160 202 792 18,321 4,992 -10 868 5272 4,889 -542 5,367 2,59 98 355 -55 467 -259 502 -1,240 1506 90 1373 2,215 940 -1,976 2,545 14,594 1.496 -1294 4,459 14,874 SECURITIES ISSUED (Millions of dollars] 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, total # Manufacturing.. Extractive Public utility Transportation . Communication .. - „ Financial and real estate State and municipal issues (Bond Buyer): Long-term - „.„ „ „ „ Short-term '11.477 ' 1.908 '11,935 '1,986 '15,437 '1,750 '16,411 '10.68 12,849 5.781 17,665 6.628 SECURITY MARKETS [Millions of dollars, unless otherwise ifticated] Stock Market Customer Financing Margin credit at broker-dealers, end of year or month ..... Free credit balances at brokers, end of yea; or month: Margin-account Cash-account . Bonds Prices: Standard & Poor's Corporation, domestic municipal (15 bonds), dol per $100 bond Sales: New York Stock Exchange, exclusive of some stopped sales, face value, t o y ....... See foorotes at end of tables. 1.074.1; 67. 1,689.11 1248.1- 1,094, 665 1,002.50 854. 924.05 12,864 2.801 SURVEY OF CURRENT BUSINESS S-16 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-68 Annual 1989 | October 1991 1991 1990 1990 Aug. Sept. Oct. Dec. Nov. Jan. | Feb. Mar. Apr. May | June | July Aug. Sept FINANCE-Conllnued Bonds-Continued [Percent} Yields: Domestic corporate (Moody"s) By rating: Aaa Aa _„ A Baa 9.66 9.77 9.84 10.02 10.03 9.85 9.63 9.62 9.36 9.43 9.33 9.32 9.45 9.42 9.16 926 9.41 9.63 9.89 10.41 956 9.30 9.59 9.88 10.62 9.05 9.39 9.64 10.43 9.04 9.34 9.61 10.41 8.83 9.16 9.38 10.07 10.09 921 950 8.86 9.12 9.29 9.94 8.86 9.15 9.41 9.86 9.01 9.28 9.55 9.96 9.00 9.77 10.09 10.64 9.53 9.77 10.06 10.74 8.93 9.46 9.74 10.18 9.32 9.56 9.82 10.36 9.51 9.89 8.75 8.99 9.26 9.65 9.66 9.66 9.77 9.76 9.63 9.84 10.02 10.01 10.11 9.94 9.93 9.76 9.68 9.57 9.68 9.56 9.41 9.31 9.47 9.39 9.35 9.30 9.34 9.29 9.46 9.44 9.42 9.40 9.16 9.16 723 7.31 925 By group Industrials Public utilities 0) Rai'roads Domestic municipal 725 7.47 7.31 753 743 708 714 700 701 714 701 7.40 7.40 7.10 7.04 7.05 6.90 7.07 7.05 6 97 6.95 7.13 7.09 7.00 7.03 6.85 6.89 6.73 7.24 8.58 8.74 8.97 9.11 8.93 8.60 8.31 8.33 8.12 8.38 829 8.33 8.54 850 8.17 7.96 966.86 2.508.91 205.72 1,194.30 965.24 2.678.94 211.53 1,040.24 934.30 888.98 2,681 .B9 2550.69 19983 210.09 881.31 951.11 868.89 2,460.54 20718 850.77 881.98 2.518.56 21026 848.07 916.30 2,610.92 21055 908.43 922.30 2,587.60 20527 J 962.42 1,022.63 2,863.04 213 69 1,11026 1,034.12 2,920.11 21315 1,11324 1,043.14 2,925.53 214 36 1,139.05 1,04929 2,928.42 21118 1,167.55 1,062.35 2,968.13 20462 1205.08 1,060.65 2,978.18 199.64 1.204.56 1,069.71 3,006.08 204.42 1204.66 1,067.44 3.010.35 208.03 1.182.39 industrial, total (400 Stocks) # Capital goods Consumer goods Utilities (40 Stocks) Transportation (20 Stocks), 1982*100 Railroads 322.84 37028 276.70 398.17 132.16 271.78 197.31 33459 390.88 282.47 433.92 140.16 254.32 202.85 330.75 390.78 281.47 437.65 132.76 240.08 204.55 315.41 372.81 260.28 414.03 130.33 224.76 191.84 307.12 361.00 241.70 408.36 137.91 216.47 169.59 315.29 369.35 249.94 424.91 141.58 218.87 183.63 328.75 384.75 266.73 450.62 144.46 232.89 195.87 325.49 382.78 267.72 443.65 138.38 241.37 197.92 36226 427.94 309.18 504.43 143.19 270.36 218.40 372.28 441.87 308.68 528.29 142.84 267.91 214.22 379.68 450.17 306.43 546.89 143.13 273.89 222.37 377.99 450.05 302.67 543.40 138.66 284.72 233.56 37829 450.87 309.36 54025 135.73 29623 246.13 38023 453.38 30625 547.98 137.75 294.32 247.47 389.40 46326 309.28 576.51 140.88 295.57 258.97 38720 459.11 303.57 567.52 142.84 295.12 264.41 Financial (40 Stocks), 1970-10 (subcategones m 1941*43=10) Money center banks .... Major regional banks ... Property-Casualty Insurance 3024 116.14 122.18 326.34 26.12 8550 95.53 342.56 24.86 80.78 89.52 325.99 22.57 72.86 79.30 304.77 20.07 58.25 63.41 28256 21.52 65.88 74.90 322.57 23.53 75.38 83.51 343.99 2320 70.42 79.10 341.84 27.75 82.99 99.77 391.74 23.64 81.17 102.97 394.93 3027 88.43 109.72 41025 29.81 90.36 114.71 383.37 30.18 94.36 118.00 384.04 29.89 91.89 116.79 387.98 31.48 98.94 129.37 369.58 31.43 97.57 125.96 360.16 180.02 21623 17528 87.43 151.88 183.46 225.78 158.62 90.60 13326 181.46 226.73 147.41 85.81 128.14 17324 216.81 136.95 83.30 118.59 168.05 208.58 131.90 8727 108.01 17221 212.81 132.96 89.69 113.76 179.57 221.86 141.31 9156 122.18 177.95 220.69 145.89 88.59 121.39 197.75 246.74 166.06 92.08 141.03 203.56 255.36 166.26 92.29 145.41 207.71 260.14 166.89 92.92 152.63 206.93 260.13 170.76 90.75 151.31 207.31 261.16 177.04 89.00 152.31 20829 262.48 177.15 90.05 15159 213.33 26821 178.51 92.38 157.69 212.54 26621 177.99 93.71 157.68 437.80 428.38 504.75 457.08 191.02 16751 40921 43057 471.43 319.03 179.36 170.17 396.32 423.90 46022 293.84 173.54 167.45 368.58 394.25 432.85 271.42 161.35 155.69 338.01 360.41 391.57 246.09 148.09 142.51 347.69 37324 413.86 246.60 152.62 14850 37021 400.89 449.44 255.16 163.42 16024 376.68 41ZB3 448.96 254.05 166.62 165.44 442.59 491.45 50923 291.19 196.23 197.17 469.10 527.06 532.17 303.59 207.51 210.74 496.32 558.44 562.43 325.16 219.21 222.97 490.93 545.97 554.37 329.81 216.55 217.43 490.38 545.84 546.64 329.37 216.34 217.40 489.34 544.01 54150 324.18 215.87 216.61 513.25 570.78 542.98 339.54 225.77 227.68 520.56 582.35 538.78 342.02 229.72 231.95 3.45 3.01 6.39 2.14 3.73 9.04 3.61 3.16 5.91 3.85 3.33 6.36 2.96 6.14 9.05 4.01 3.51 6.02 3.74 3.31 5.73 2.87 4.96 8.72 3.82 3.36 6.07 2.81 5.03 8.71 3.35 2.93 5.84 2.47 4.02 8.46 3.26 2.84 5.88 2.50 3.81 8.55 3.19 2.77 5.88 2.42 3.57 8.43 3.23 2.79 6.09 2.33 3.71 3.20 2.76 6.11 6.27 8.96 3.91 3.45 5.89 3.17 5.54 8.88 323 4.82 6.96 3.65 3.16 6.17 2.63 5.05 8.97 821 826 3.70 8.15 3.10 2.67 5.99 2.19 3.45 8.03 1,844,848 54239 1,611,667 53.338 177,524 5.449 96.201 3271 132,968 5,581 116,867 4200 122,918 4,312 111,171 3,950 165,070 5550 168,715 5,574 159.472 5205 149.994 4,677 138210 4286 134,465 4,353 156,668 4,923 1,576,899 44,140 1,389,084 43,826 152,819 4,402 83,385 2,665 116,348 4,800 99.541 3,463 107,530 3,557 95,441 3258 142,066 4,610 145,301 4,543 137,534 4247 128,620 3,852 120260 3,548 116,659 3,610 133.673 4,010 Bond Buyer (20 bonds) Standard & Poor's Corp. (15 bonds) U.S. Treasury bonds, taxable t Stocks Prices: Dow Jones averages (65 stocks) Industrial (30 stocks) Public utility (15 stocks) Transportation (20 stocks) Standard & Poor's Corporation, 1941^3^10 otherwise indicated. § unless Combined index (500 Stocks) N.Y. Stock Exchange common s t x k indexes, 12/31/65*50; Composite , Industrial Transportation Utility Finance NASDAQ over-the-counter price indexes Composite, 215RU1QQ Industrial Insurance Bank NASDAQ/NMS composite, 7/10X4*100 Industrial Yields (Standard & Poor's Corp), percent Composite (500 stocks) O Industrials (400 stocks) Utilities (40 stocks) .. Transportation (20 stocks) Financial (40 stocks) Preferred stocks, 10 high-grade Sales: Total on all registered exchanges (SEC): Market value, mil. $ Shares sold, millions On New York Stock Exchange: Market value, ml $ Shares sold (cleared or s&til&S)"millions ".. JM6W Turn oIOCK tXCnange. Exclusive of odd-lot stock sales (sales effected), missions NASDAQ nvpr-the-Cfluntpr1 Market value mil $ Shares sold millions Shares listed, NYSE, end of period: Market value, all listed shares, bil. $ Number of shares listed, millions „ 256 Z95 2.79 623 224 3.68 226 41,699 39,665 4,015 2.686 3,671 3,148 3,109 3,636 4273 3,900 4,011 3,742 3259 3.458 3,773 431 381 33)530 377468 27)894 44,058 26,152 33,380 2)695 28,252 2,378 30,127 2)495 45,375 2)925 56,767 3)313 55,754 3)585 66,434 4J14 55,906 3)378 45976 2)854 50,781 3)098 57699 3)346 3,029.65 82,797 2.819.78 90,732 2,758.95 88,782 2,617.45 89,488 259125 90,079 2,747.59 90,345 2,819.78 90,732 2.927.78 90.772 3,137.60 91,096 3209.91 91,851 3,229.47 93,579 3,360.17 94204 3216.19 94,821 3.381.44 96,174 35,573.1 •33,506.7 34,974.6 '35227.1 VALUE OF EXPORTS [Millions of dollars] 31,486.6 32,0102 35295.9 35,006.3 33,6892 34,194.3 32.922.8 33.305.1 33,150.1 34,144.0 32.682.8 33.599.4 36,797.0 34.030.7 36,110.4 35,632.1 36,135.6 352712 Western Europe European Economic Community... Belgium and Luxembourg 9,014.1 9,322.0 8.092J 955.8 1,150.0 1.470.3 668.0 1,202.2 1.847.1 10.3357 8,770.1 923.9 1208.4 1,817.7 769.7 1.176.7 1.976.8 9,461.3 8,319.9 923.4 1244.3 1,651.0 641.3 1,087.5 1,851.3 9,517.7 8,307.2 970.1 1,320.7 1,653.0 664.4 1,169.9 11.837.0 10,134.9 1,1102 1,567.5 1,919.2 842.0 1212.9 2226.3 10,882.8 9,383.3 979.3 1,391.4 2293.4 720.7 1,124.7 1.914.9 10.087.8 8.753.7 9042 1217.3 1,779.5 788.3 1,355.9 9,786.2 8,620.7 863.7 1,1805 1,788.5 654.1 996.3 1,728.4 9,984.9 8,766.1 938.9 1,353.4 2 1.630.8 663.0 1,089.9 2223.9 982.8 1,997.7 8.984.9 7.9562 792.7 1.238.1 1,940.9 580.3 929.9 1579.1 138.9 78.9 157.9 84.8 277.3 143.3 259.5 147.5 286.4 216.9 478.4 3885 6082 504.6 433.8 304.3 248.2 155.3 260.8 117.0 278.7 203.7 France 7,802.0 921.6 1282.1 1,427.8 ,. Federal Republic of Germany Italy Netherlands United Kingdom . ! . „ " ! . " ! " . . . . . ! " " " " " Eastern Europe Union of Soviet Socialist Republics ... See footnotes at end of tables. 190.0 50.3 7875 55614 3233 3,455.05 .„,„ 96221 FOREIGN TRADE OF THE UNITED STATES Exports (mdse.), ind. reexports, total @ Seasonally adjusted t tmt 33,375.5 34,165.4 8.626.4 7,514.3 918.0 1,1152 1,511.6 570.9 888.4 1,7272 321.7 233.8 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 1989 S-17 1990 Annual 1990 Aug. | Sept. Oct. 1991 | Nov. Dec. Jan. Feb. Mar. Apr. | May | June July I Aug. Sept FOREIGN TRADE OF THE UNITED STATES-Continued VALUE OF EXPORTS—Continued [Millions of dollars] Exports (mdse.), inct. reexports—Continued Western Hemisphere: Canada 0 Brazil Mexico Venezuela 78,808.9 4.803.9 24,982.0 3,0252 83.865.5 5,061.9 28,375.3 3.1072 6,683.0 512.9 25195 278.4 6.4475 4742 2.370.4 279.6 7,455.8 497.6 2,779.5 287.6 7.359.4 461.8 2,5037 303.0 5,943.0 444.0 2226.8 3262 6,777.9 348.3 2,400.7 2962 6,3695 388.3 2.355.6 315.0 7,085.4 421.3 2,346.8 358.9 7,604.0 460.6 2,763.9 399.0 7,679.1 495.4 2,843.8 4017 7,451.4 4657 2.866.4 4245 "6,473.6 537.8 2,922.9 416.4 6,763.6 6197 2,842.8 370.3 Asia: China Hong Kong Japan Republic of Korea Saudi Arabia Singapore TaiwaV 5755.4 6246.3 44.493.7 13,478.0 3,573.6 7,3447 11,334.5 4,8072 6,840.6 48,584.8 14,3987 4,034.8 8.019.1 11,482.3 422.7 519.5 3,917.6 1,198.6 356.3 746.1 908.4 354.8 595.8 3,992.0 1,109.0 288.8 793.5 874.1 4527 526.7 42502 1,337.1 489.9 704.8 9712 329.9 527.8 4,350.5 1270.4 436.2 6392 962.4 372.8 542.1 4.370.8 1,181.3 477.1 671.9 9832 411.0 715.8 3,8195 1,4617 509.5 794.0 1,015.6 486.3 590.9 4,263.0 1231.0 392.7 776.7 1,020.2 472.9 6297 4240.5 1,352.0 627.6 847.1 1,037.0 437.5 748.0 3,907.9 1,2442 582.7 656.7 S87.8 630.9 645.8 4255.9 1,365.7 507.3 8107 1,069.2 505.8 610.4 3,958.8 1,173.5 4922 914.4 1,183.8 5385 580.6 3,851.3 1281.6 4972 666.1 1,171.3 560.1 7887 4,020.8 1,163.0 4822 592.8 1205£ 490.3 1,659.4 5515 1.732.4 437 157.2 35.1 1432 552 149.2 732 1362 532 136.5 557 258.8 51.1 134.3 58.9 170.8 602 161.1 54.5 152.6 857 270.3 63.4 1452 682 173.8 Africa: Nigeria Republic of South Africa 8,331.3 8,534.7 883.1 625.4 608.4 580.3 955.9 6035 7065 592.3 599.1 5815 739.1 756.7 726.8 13.195.9 13,678.7 1,127.6 9552 1,310.0 1.291.9 1,326.9 1281.3 1254.1 1.5942 1,594.1 1.572.8 1,5432 1.636.9 1.448.4 349,6505 375,4542 30,153.4 30.028.5 33.755.3 32249.6 31,461.3 31.5262 31.138.B 34.782.4 34,433.1 34,398.6 33,869.6 31,887.0 31,698.1 40.003.9 314,551.0 29.723.8 5.509.8 26,946.7 9,865.3 1,3497 36.485.1 27242.8 ' 32.637.5 1487999 '23,6102 38,783.4 341,914.0 29,280.0 7,118.6 26,984.9 12.174.8 1,190.6 38,983.3 31,670.3 39,285.3 172 521 9 26,656.3 2.893.5 27,3422 2,497.1 549.7 2,153.6 1,057.3 97.5 3,234.4 2,619.6 3,187.0 13592 8 1,956.2 3,031.7 2.734.4 30,153.4 30,488.9 2,456.3 2,190.6 766.4 533.3 2,121.8 1,957.0 1,299.5 1,176.0 65.5 100.8 3,615.7 3,125.3 2,921.8 2,579.8 3,4955 3,319.9 13 779 5 154108 2523.8 1[9852 3,116.7 3,456.2 28,215.9 28.496.1 2.083.9 2,473.5 776.7 744.4 2238.8 22915 1,393.9 1.2162 81.7 80.0 3298.3 3 3202 2,520.1 2,774.0 3,336.0 3.326.6 13.877.6 14 020 0 1.5332 3.164.7 28,543.8 2,126.5 765.0 22892 1,2057 875 3,5502 2,8127 3,2675 14269 0 2[1675 3.434.9 27,687.3 2.538.6 646.6 2,358.1 1.3047 75.6 3.591.6 2,753.6 3209.3 132165 1,880.0 3,580.1 31.164.5 2,621.6 649.0 2.469.5 938.4 86.8 3,923.4 2.914.0 3,659.8 16176 6 2,310.5 3,084.5 31.271.6 2,303.3 549.9 2,197.8 732.4 107.1 3,848.4 3,108.9 3.625.0 164194 2[571.6 2.788.0 2,8665 2,586.4 3,030.1 31,402.6 31,159.8 29,035.9 28,910.1 2,462.4 2,1047 2.476.8 2285.9 498.3 451.8 6192 461.1 1,817.7 1,861.8 1,980.8 2,237.3 970.6 924.8 956.0 1,066.5 99.3 126.8 67.8 77.1 3,4695 3,4397 3913.6 3,4552 3,0597 3,065.0 2,960.6 3.146.8 3,498.3 3.519.4 3.683.3 3,644.9 16 0669 16,732.9 147028 14 3027 1 [993.8 1,988:9 2,696.9 473,210.9 494,9032 42,178.9 422827 41,059.1 41,253.9 48,100.5 45,993.9 43,684.9 43,106.0 39.152.4 39,582.1 40,167.3 41,474.4 37.0155 39,103.4 38,6702 38,100.4 39.529.0 40.139.1 40,1212 40,0615 39,4345 38,7637 41282.6 41,176.3 41,0366 40,9228 101.763.6 85,1532 4,555.0 13,013.4 24,832.3 11,933.1 4,809.6 18.319.1 108,901.1 91,8675 4,578.5 13.124.0 28.1087 12,7233 4,971.9 202882 8,692.3 7,530.9 285.9 951.1 2.4757 12017 408.1 1,511.8 8,128.9 6,764.5 347.7 996.8 2.061.3 748.2 375.6 1,711.4 10,617.1 9,002.4 468.9 1.461.0 J 2.522.9 1,173.1 447.5 2,1832 9,735.9 8,141.7 389.1 1,149.8 2,387.4 1,1445 433.6 1,971.4 8,734.7 7.483.5 342.0 1.0377 2.312.9 955.7 3702 1,789.8 8,360.0 6,9792 349.5 1,066.3 2,073.4 961.7 318.4 1,559.0 8.1545 6,8915 323.8 1,027.0 2215.8 973.1 334.8 1,4272 8,6572 7,316.4 364.1 1,1167 2,369.9 974.4 3862 1523.6 8,775.4 7,371.4 397.8 1,161.9 2,304.2 934.9 381.8 1,567.4 8,767.7 7,387.0 3655 1,064.5 2,183.1 962.4 407.1 1,701.1 8,053.1 6,751.9 300.5 1,150.8 1,917.1 968.3 335.1 1.476.0 8,999.1 7,750.6 421.7 1,318.1 2.1535 1.1347 432.2 1.602.6 7,9179 6,8662 2173 1.0284 1.975 6 1,064 3 5036 1,4754 2,0642 709.5 2,2752 1,065.4 190.0 87.9 186.0 90,8 257.1 154.6 1927 109.9 213.8 1205 155.3 66.7 141.3 662 2077 118.9 1372 56.6 165.6 82.3 957 23.9 1742 84.4 159 8 827 Western Hemisphere Canada Brazil Mexico Venezuela ... 87,953.0 8,410.0 27,162.1 6.770.7 91,372.1 7,976.4 30,172.3 9.446.4 7,1582 691.0 2,557.5 744.8 7.598.1 579.1 £590.3 917.3 8,809.9 770.8 3.120.8 1269.6 7.948.0 536.0 Z.7947 1,193.0 6.867.8 631.6 2243.4 929.8 7227.1 6732 2.479.9 906.3 6.875.6 553.8 2236.6 563.6 7,498.0 438.6 2,412.3 633.1 7,892.8 6967 2,682.4 5982 8.036.5 540.3 2,639.9 690.8 7,893.1 510.0 2,5695 592.3 6.914.1 585.9 2,473.1 787.1 7.4800 528 2,660 646 Asia: China Hong Kong .. Japan Republic of Korea Saudi Arabia Singapore .... Taiwan 11,988.6 9.7387 93.585.8 19.741.8 7.181.3 8,949.7 24,3257 15223.8 9.488.0 89.655.1 18,493.3 9,974.3 9,839.4 22,666.8 1.566.6 916.4 7.697.8 1.717.0 812.8 8797 2,119.6 1.425.0 8267 7,046.7 1,5145 1,162.8 874.4 1,905.9 1.627.6 1.007.9 8,703.3 1.721.9 1,296.6 885.0 2,076.1 1,407.8 808.4 8.1387 1.507.9 1,426.9 844.0 1,833.1 1.127.8 678.3 7,809.5 1,345.9 1,152.6 838.8 1.712.4 1.325.1 806.5 7281.4 1.501.3 12027 795.3 1,877.9 1259.7 6167 7,4222 1,177.9 8705 690.7 1,695.3 974.3 541.1 7,815.5 12332 8505 7975 1,525.0 1.105.6 596.7 7,2552 1,313.7 832.3 782.3 1,7087 1,374.3 6802 6,6877 1,424.4 1,082.7 736.3 1,820.7 1,528.3 736. 7.190. 1,370. 8332 895. 1,876. 1,815.3 909. 7,648. 1.624. 832. 797. 2,0652 1,867 855 7,757 1,486 1,029 793 2.113 Africa: Nigeria Republic of South Africa 5,226.4 1,529.0 5,977.2 1,700.6 400.9 140.1 5187 144.4 643.3 156.4 420.6 202.4 405.0 140.4 468.5 170.1 422.1 1445 507.7 149. 4602 161.9 482.9 174.8 476. 149. 501. 153. 5045 137 Australia 3.898.3 4,4417 507.7 426.0 398.8 374.1 3467 395.6 289.0 288.8 336.8 343.0 397. 340. 337 30,601.0 38,017.0 3284.9 3792.6 3,975.5 3,814.1 3,187.3 3297.9 2,580. 2,563. 2.573. 2,945. 2,572. 2.718. 2,858 49,623.9 423 7721 20,6855 4,364.0 15.370.3 52,6487 730.8 20,752.3 61,991.4 76,6392 205.761.0 '69,340.5 61,356.8 4,8675 36,992: 1,6335 417.1 12872 5,115.4 92.3 1,838.3 5.169.3 7.806.4 17.098.1 5.3675 7,298.9 6224.8 34750' 41185' 1 [683.6 17803 484.3 355.8 1282.0 1.138.3 7.621.0 6,469.1 84.3 60.3 2,063.6 1.692.8 5.467.3 4,783.3 8,304.9 6,8825 16,348.1 19.964.9 6.867.8 5.2752 6,358.0 37 5462 1.757.3 490.4 1.197.8 6,616.0 57.4 1.951.4 5,0547 6,882.2 18,398.1 6.3685 52097 34,0815 1.791.8 383.1 1.034.3 5,513.8 63.1 1.778.2 4,432.8 5,7432 17,117.4 5.560.3 i[&83.8 385.4 1,113.4 5,696.0 63.8 1,962.8 4.970. 6,345. 16,256. 5.359.9 1,7542 298. 1.038. 4,072. 70. 1,919. 4.557. 5.978. 16,140. 5.162. 1,885. 336. 1,040. 4,0572 2,011. 4,579. 5,756. 17,484. 5,628. 1,998. 386. 1,157. 4,340. 68. 2,064. 4.930. 5,902. 17,503. 5,510. 1,952. 4162 1.132. 4,926. 74. 2,004. 4,876. 6,198. 16,741. 5,286. 1,862. 368. 1,120. 4,337. 69 1,952. 4,552 6,598 17,157 5,427 1.724. 394. 1,132. 4289. 76 2,075 5,140 7,933 17.1B5 4,980 ""*" 1,678 415 1,077 4,890 62 1,918 4,590 7.525 17.489 5.622 -9,1572 -12,0845 -10,5289 -9.0842 -9,896.8 -9.536.4 -6[324.6 -7017 -7,3762 -4.332. -5.504. -1.873, -4,069. -3,418 -4.507. -3,985 -4,790 -3,861 -3.789 -7,775 -5,949 -7.661 -6.757 -5.4 31 5 3648 -4.4 312 35.6 Australia OPEC Exports of U S merchandise, total @ By commodity groups and principal commodities Agricultural products, total Nonagricultural products, total Food and live animals # Beverages and tobacco Crude materials, inedible, exc fuels # Mineral fuels, lubricants, etc. # Oils and fats, animal and vegetable Chemicals .. Manufactured goods classified chiefly by material Miscellaneous manufactured articles Machinery and transoort eouiornefit total Motor vehicles and parts ..... _ - VALUE OF IMPORTS [Millions of dollars] General imports, total @ Seasonally adiu&ted t Western Europe European Economic Community Belgium and Luxembourg France Federal Republic of Germany Italy Netherlands United Kingdom Eastern Europe Union of Soviet Socialist Republics OPEC By commodity groups and principal commodities Petroleum and products Nonpetroleum products Food and live animals # Beverages and tobacco Crude materials inedible, exc fuels # Mineral fuels, lubncants, etc Oils and fats, animal and vegetable Chemicals ... Manufactured goods classified chiefly by material Miscellaneous manufactured articles Machinery and transport equipment Motor vehicles and parts 21 932 J 4,*633.'1 -14,524.0 64,5615 802.3 22,4682 59,9142 81,477.6 208,0957 69.382.1 . 75. MERCHANDISE TRADE BALANCE * [Millions of dollars] Trade balance: Not seasonally adjusted Seasonally adjusted . ............... „ -109,399.3 -101.7182 -10.508.9 -9.352.I -6211. [Billions of 1987 dollars] Seasonally adjusted: Trade balance Exports •••*••• ••• •• Se« footnotes at end of tables. «'»•* -103.67 338.00 441.67 -8524 36680 452.04 -7.96 303; 3829 -6.38 30.0 -6.56 3207 38.63 -6.28 31 0' 37.32 -3.9 311 35.1 -3.35 31 6( 3S.W -4.0 331 372 -4.4 32 9C 37.34 -3.7 32T 36.* 33 39.0 -6.4 321 388. - SURVEY OF CURRENT BUSINESS S-18 Unless otherwise stated in footnotes below, cafe through 1988 and methodological notes are as shown in BUSINESS STATISTICS, Annual 1989 1961-68 | October 1991 1991 1990 1990 Aug. Sept. | Oct. | Nov. | Dec. Jan. Feb. | Mar. May Apr. | June July | Aug. | Sept. FOREIGN TRADE OF THE UNITED STATES-Contlnued Export and Import Price Indexes * [1935-100] All exports... Agricultural exports Nonagricultural exports . '. .........„.„..„ !Z..!...." .... AH imports Petroleum imports . .. Nonpetroleum imporjs ............. . Shipping Weight and Value Waterborne trade: Exports (inct. reexports); Shipping weight, thous metric tons .. Value mil $ General imports: Shipping weight, thous. metric tons Value, ml f .. ...... ... 115.1 107.8 116.4 1235 762 132.0 114.8 108.1 116.0 123.3 75 7 131.7 114.7 107.9 116.0 1224 732 131,1 113.9 103.8 115.7 121.6 719 130.5 34.28 59.E 4,402 17,518 12873 1,277 229 18903 -i!339 35.20 632 4,451 37.47 63.4 4,729 40.84 66.7 5,101 44.03 68.0 5,426 2325 349 95 27.16 399 112 13,506 14 254 -747 27.37 387 110 27.80 9.08 8.28 358 445 37 67 4,659 5.456 ,.,„„.„ -632 527 372 32 7.13 423 39 4,012 4,649 -592 7.83 397 37 9.67 737 699 760 725 122.3 832 1292 114.3 107.0 115.7 126.3 1044 130.2 115.0 104.8 117.0 130.1 126.3 130.8 115.2 104.4 117.3 1294 1195 131.1 114.9 104.4 116.9 1288 1109 132.0 115.3 105.9 117.1 127.1 991 132.1 1152 106.3 116.9 124 6 806 132.5 115.1 106.5 116.7 124,5 772 132.9 372,052 150.737 32,089 12,194 28,808 11,812 30,134 13,383 32,540 13275 29,766 13,119 29,565 13,124 33,395 13,474 32,963 14232 495,239 283,392 41,398 24,705 40,086 23255 43,776 28,009 37,951 24,901 33.830 22,318 36,184 23,751 31,002 20,615 32,371 20.668 33.50 36.18 56.S 59.6 4242 4,710 19116 14293 1,505 282 ...... 21 488 -3.647 ................. 28.52 562 3,700 27.10 403 178 14,456 16032 -3,015 25.21 369 129 112.8 114.3 112.9 113.8 108.8 114.9 113.6 107.1 114.9 119.4 70.9 128.0 123.2 87.4 129.5 381,099 143,184 493.864 270,633 114.3 107.1 115.5 122,0 74.8 130.4 1142 105.8 115.6 122.4 759 130.7 TRANSPORTATION AND COMMUNICATION TRANSPORTATION Air Carriers Certificated route earners: Passenger-miles (revenue), blhons Passenger-load factor, percent Ton-miles (revenue), total, millions ..„ Operating revenues (quarterly), ml. $ 5 .„ Passenger revenues ml $ . Cargo revenues, ml S „ Mail revenues, ml $ „„ „ Operating, expenses (quarterly) ml Si Net income after taxes (quarterly), ml $ § Domestic operations: Passenger-miles (revenue), billions Cargo ton-miles, millions „ Mailton-miles,mitliofs Operating revenues (quarterly), ml $ 5 „... Operating expenses (quarterly), mil $ § Net income after taxes (quarterly), ml $ § International operations: Passenger-miles (levenue). billions „... Cargo ton-miles, millions ... ., ..„.„,».. Mailton-miles,miBions Operating revenues (quarterly), ml $ 5 Operating expenses (quarterly), ml $ § Net income after taxes (quarterly), ml. $ § Urban Transit hdustry Passengers carried, total, millions t t Uotor Carriers Carriers of property, large, dass 1, qtrly.: Number of reporting carriers number Operating revenues, total, ml $ Net income, after extraordinary and prior period charges and credits mil $ Tonnage hauled (revenue), common and contract carrier service, ml tons Freight carried—volume indexes, class 1 and II intercity truck tonnage (ATA): Common carriers of general freight seas, adj., 1967*100%% . Class 1 Railroads i Financial operations, quarterly (AAR), excluding Amtrak: Operating revenues, total, ml $ * Freight mil $ Passenger, exd. Amtrak, ml S „ Operating expenses, ml $ , „ ... ..„.,.,.„.„.. Net railway operating income, ml $ Ordinary income, ml S t..... „.....« Revenueton-miles,qtrty. (AAR), billions Producer Price Index, line haul operations, 12B4=1Q0 Travel Lodging industry: Restaurant sales index, same month 1967*100 Hotels: Average room sale, dollars 0 Rooms occupied, % of total Motor hotels: Average room sale, dollars 0 . . . Rooms occupied, % of total Economy hotels: Average room sale, dollars 0 Rooms occupied, % of total „ Foreign travel: U.S. citizens: Arrivals (quarterly), thousands Departures (quarterly), thousands Aliens: Arrivals (quarterly), thousands .... Departures (quarterly), thousands - . Passports issued, thousands National parks, recreation visits, thousands** See footnote ai end of taifes. 432.71 632 55,458 69,225 53,796 6.893 955 67413 39 58,395 75.967 58426 5.435 970 77881 -3,994 329.3 4,916 1,415 54,314 5246C 304 34022 5,076 1,490 57,991 59 004 -3,440 102,74 5.35S 464 14,911 14,954 -265 36.81 60.1 4,749 20,128 15635 1,344 228 19820 -212 37.80 602 4,943 33.81 455 121 2624 436 114 14,803 1477C -561 28.25 46£ 128 26.64 440 128 1328 117.70 456 5,524 40 514 17,976 18,878 „.„. -554 10.57 476 41 5.326 5,050 349 9.55 523 45 8.15 508 53 746 732 817 457.92 47.09 712 5,782 8.195 8,962 10C ' 19,750 100 21810 10C 5621 34.79 58.S 4,608 .... 755 712 . ... 100 5762 „,.„„„ ................ 419 115 410 39 „, 734 29.58 424 108 31 .S3 412 106 1126 446 39 12.41 466 38 , ,..,„.., 678 100 5030 100 5 446 '355 442 145 86 8 118 '175 172 43 44 42 46 168.5 174.9 '27,956 '27059 ' 91 '25.038 1,896 '2.010 '28.516 '27616 '94 '24.736 '2,676 ' 1.953 1.013.8 106.4 1,034.9 1075 v 107.3 224 87.02 71 48.82 75 39.92 , 79 245 87.77 68 46.97 66 38.57 66 '18,120 '17.603 '15.099 '13,550 3.691 56,422 183.4 '19,505 '19,022 '16,908 '15,024 3,689 56.948 „„..„, „ 284 10.134 1742 182.6 177.3 7,110 6891 24 6,089 710 595 258.3 107.3 163.2 180.3 7,098 6668 24 6242 174.1 1662 491 108.5 258.8 108.5 108.6 176.9 2542 109.5 108.9 ' 172.9 '193.3 6,842 6617 24 """ 6.659 155 76 6,778 6554 23 6,188 380 430 ......... .... 529 108.3 180.1 „.„ 109.5 '109.6 251.7 109.5 , 193.6 ................ *'" ................ 3 73.0 109.9 2 100.0 109.4 '79.6 109.5 • 6.022 5,562 5,300 4,705 213 6,705 ..._.„ ................ „,.. „,„„ 228 4,453 196 2.413 4,128 4,335 4.091 3,726 174 1,390 3 1,452 3 1,157 2 1,180 '1261 237 '1,456 2973 '959 '790 198 '1,730 2 1,328 *1 1.286 1,230 2 966 268 '2,131 1 1,362 S 1 334 3 1,198 2 1.091 351 '3,192 t ,..:.. ..^-.,. 4 nn 335 '5,178 329 '7,707 ....... ..... 315 249 10,767 '11,019 M 249 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BWSINESS STATBT1CS, 1989 1961-33 | S-19 1990 Annual 1990 Aug. Sept. | Oct. 1991 Nov. | Dec. Jan. | Feb. | July Uar. I Aug. 1 Sept. TRANSPORTATION AND COMMUNICATION-Continued COMMUNICATION II1 Telephone carriers: Operating revenues mil $ # .. Station revenues, mil. $ Tolls message mil $ Ooeratina exoenses (exdudiro taxes) mil $ Net operating income (after taxes) mil $ Access lines millions... : CHEMICALS AND ALLIED PRODUCTS CHEMICALS inorganic Chemicals [Thousands of short tens, unless otherwise indicated] Production: Aluminum sulfate, commercial (17% A I A ) Chlorine gas (100% O ) Hydrochloric acid (100% HCl) ... Phosphorus, elemental Sodium hydroxide (100% NaOH) Sodium alicate, anhydrous Sodium sulfate (100% Wa*SO<) . Sodium tripdyphosphat© (100% Na5PAo) Titanium dioxide (composite and pure) 1,244 11,413 3,177 353 10.492 873 755 560 1,110 1,208 10,943 2,341 356 11,688 879 733 532 1,079 112 922 169 29 992 75 57 47 100 919 164 29 992 77 56 53 75 107 926 195 31 987 79 63 44 81 96 903 191 31 971 78 63 46 79 93 958 196 28 1,027 74 74 43 98 Sulfur, native (Frasch) and recovered Production, thous. metric tons.... Stocks (producers1) end of period, thous. metric tons 10,398 1,302 10.255 1,422 912 1.191 1,287 1,381 868 1,371 1,422 16,362 7,871 2,347 8,349 2,913 11,737 43,301 16,958 7,107 2.495 7,749 2,853 12,175 44,281 1,395 495 214 561 206 1.033 3.776 1,334 520 205 615 223 1,029 3,750 1,418 566 191 633 235 1,037 3,655 1,427 602 193 656 238 1,037 18.128 942 5,745 18.887 738 5.700 1,576 564 663 1,576 604 308 1,667 663 418 1,631 784 441 1,700 738 549 5.445 207,806 744,068 451,802 5,335 187,929 791,020 470,582 494 16.646 66,776 41,054 14,956 65,145 40,109 485 14,157 67,891 41,492 441 14,972 68,293 38,878 449 15,266 67,883 38.243 '10. '132.3 '2,673.2 293.3 '3,704,5 '416.1 M2.8 1 124.3 '2,908.5 286.5 '3,6222 '426.7 299 2,715 642 80 2,946 211 171 118 269 8 2,795 6 668 tf *3.013 «216 806 1,581 1,521 776 1,474 813 1,425 800 1,481 837 1,459 Inorganic Fertilizer Materials [Thousands of short tons, unless otherwise indicated] Production: Ammonia, synthetic anhydrous $ Ammonium nitrate, original solution i Ammonium sulfate i Nitric acid (100% HNOj) % Nitrogen solutions (100% N} $ ... Phosphoric acid (100% P A ) t . Sulfuric acid (100% HjSO*) * .... 1,471 610 214 639 265 1,063 3,784 4,419 1,877 592 1,918 829 3,060 10,598 •1,902 •558 •V977 •10J78 Superphosphate and other phosphatic fertilizers (gross weight): Stocks, end of period Potash, sales (Ki<5) .."...""I"..! „ "!...".. Imports: Ammonium nitrate, thous. metric tons Ammonium sulfate, thous. metric torts Potassium chloride, thous. metric tons Sodium nitrate, thous. metric tons . „ 602 •4,811 *692 414 327 740 735 4,813 620 227 "411 "307 <5,498 <150 Industrial Gases [Millions of cubic feet] Production: Acetylene Hydrogen (high and low purity) Nitrogen (high and low purity) Oxygen (high and low purity) ......... •1.352 •36252 198,552 a 118260 6 Organic Chemicals § [Thousands of metric tons, unless otherwise indicated] Production; Acetylsalicvlic acid (aspirin) Ethyl acetate . .... .......... Formaldehyde (37% HCHO) Glycerin, refined, all grades, mil. fb. ._. Methanol, synthetic Phthalic anhydride .",.,."..".". * '..... ........ .1.!.. 2.5 33.3 730.9 21.2 952.8 107.5 ALCOHOL Ethyl alcohol and spirits: Production, mil. tax gal. Stocks, end of period, mil. tax gal. 960.1 54.3 94.3 41.3 100.4 37.3 Denatured alcohol: Production, mil. wine gal. Consumption (withdrawals), m i wine gal. For fuel use, mil. wine gat. Stocks, end of period, mil. wine gal. 514.3 502.2 200.5 24.5 55.5 52.9 50.1 52.3 23.1 11.5 zn 11.9 See footnotes at end of tables. 25.9 25.7 3.3 33.0 738.5 21.6 923.7 96.3 31.6 644. 79.: 839.8 96.7 71/ 1,107.3 96.5 236 687 SURVEY OF CURRENT BUSINESS S-20 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, isst-n Annual 1989 October X991 1991 1990 1990 Aug. Sept. | Oct. | Nov. | Dec. Jan. | Feb. | Mar. Apr. May | June | July | Sept Aug. CHEMICALS AND ALLIED PRODUCTS-Continued PLASTICS AND RESIN MATERIALS 2,141.3 981 1 2,277.8 874.6 2,028.7 822.0 '4,112.9 1,007.3 1.003.1 941.7 ! '8,550.5 '3,524.7 I ^833 6 '7,318.8 '3,039.3 3 3,591.4 '4,002.6 i i [thousands of metric tons] Production: Phenolic resins........ . .... . Polyethylene and copolymers Polypropylene „ Polystyrene and copolymers .... Polyvinyl chloride and copolymers ... „ 2,089.6 6305 flBi'i PAINTS, VARNISH, AND LACQUER % '1,098.5 '468.0 '367.9 '262.6 '963.1 '386.6 '351.0 '225.6 '1,046.8 '399.3 '394.1 '253.3 '854.9 '3322 '322.8 '199.9 '730.9 '301.0 '266.6 ' 163.3 I!!! '11,761.6 '4,862.1 '4,1105 '2,789.1 iiii iiii '11238.9 '4,525.3 '4220.1 '2,4935 Nil [Millions of dollars] Total shipments Architectural coatings Product coatings (OEM) Special purpose coatings '2,467.8 '1,000.3 '953.6 '514.0 3,122.8 1,400.4 1.086.1 636.0 ZZZZ. zzzz ELECTRIC POWER AND GAS , ELECTRIC POWER {M^Uons of kilowatt-hours, unless otherwise indicated] Production: Electric utilities, totaJ By fuels By waterpower „ „ ......... Sales to ultimate customers, total {Edison Electric Institute} Commercial § Industrial § Z.Z. Z... Railways and railroads Residential or domestic Street and highway lighting Other public authorities Interdepartmental 2.784,304 2,519241 265,063 2,807,058 2,527219 279,839 2,616,251 718,014 905225 5,307 899,573 14,548 69,259 4,324 2,623,733 722,375 907,925 5,335 897,937 14,731 71,084 4,346 731,098 207,157 239,405 1,304 260,423 3,518 18.323 967 645,103 178287 229,732 1,374 213,085 3,954 17,739 931 663,388 177,098 219.440 1,436 242236 4,147 18224 649,177 182,995 230,832 1,324 210,302 3,543 19,338 843 169,117 170,583 50,793 42,059 43,315 43,874 53,583 49,190 4,177 .167 49 54,388 49,912 4,261 167 48 53,878 49,482 4,182 166 48 54,388 49,912 4,261 167 48 10351 4,798 2.323 1,962 1,280 188 47,493 26,172 11,077 6,211 3,449 584 9,846 4,394 2,192 1,997 1,075 188 1,520 382 260 384 462 31 2,690 1259 615 560 203 54 44,672 24,658 10,462 6.0S4 6,209 2,602 1213 1,107 1210 78 12,230 6,901 2,901 1,709 554 165 268,483 247,435 21,048 237,869 220,699 16.971 224,794 206,188 18,605 213.596 193.603 19,993 237257 213,305 23,952 247,984 222,314 25.671 210,496 188,579 21,918 221,117 195,297 25,820 208,936 183.249 25,687 233,991 205,535 28.457 248,165 222,332 25,832 Revenue from sales to ultimate customers (Edison Electric GAS0 Total utility gas, quarterly (American Gas Association): Customers, end of period, total, thousands® Residential Commercial Industrial @ ..... ZZ. Other Sales to customers, total, M Btu Residential Commercial Electnc generation ................ Other ..* Revenue from sales to customers, total, mil. $ Residential Commercial.............. .„..„.. Industrial ....!. Electric generation ..„ Other ..„ FOOD AND KINDRED PRODUCTS; TOBACCO ALCOHOLIC BEVERAGES Beer: Production mil bbi . Taxable withdrawals, ml bbl Stocks, end of period, mil. bt/. 199.14 179.50 14.60 Distilled spirits (total): Production mil tax gal Consumption, apparent, for beverage purposes, ml wine gal ... Stocks, end of period, mi tax gal. Imports mil proof liters .. „ ...... Whisky: Production, ml tax gal. Stocks, end of period, mil. tax gal. .,..„ Imports, mil. proof liters ..« '. Wines and distilling materials: Effervescent wines: Production mi! wine gal ..... Taxable withdrawals, ml wine gal. Stocks, end of period, mil wine gal. Imports, ml ttsrs . . — — 1 ................ .................... Stilt wines: Production, ml wine gal. _ Taxable withdrawals, ml wine gal. Stocks, end of period, mil wine gal. „ Distilling materials produced at wineries, mil. wine gal. Seefootnotesat end of taUes. „.. 203.63 185.56 12.67 18.96 17.40 1424 4.10 9.68 374.41 29.39 425.01 27.26 413.71 291 3/1.63 5.84 365.00 112.89 371.46 426.67 J 3S8.54 77.88 368.85 '223.97 16.08 14.75 13.06 16.62 15.77 13.87 15.44 14.54 13.34 13.97 13.22 12.67 1627 13.80 1354 15.17 13.11 14.11 16.08 14.40 14.15 ' 31.10 36.71 48.14 24.72 21.97 26.07 1723 14.82 15.01 18.90 16.77 14.91 19.16 16.93 14.99 19.88 17.88 14.96 • ••» „„.,„ • ,. -„- ::::::: 29.76 26.95 22262 26.35 25.50 231.72 3.88 220 21.91 226 2.73 22.18 2.88 4.54 19.77 2.85 425 18.30 1.79 229 17.59 2.96 .88 1659 121 .92 17.60 1.12 1.08 20.48 1.10 1.43 18.56 .13 1.91 19.64 .74 '1.69 17.48 259 1.10 18.81 408.16 413.17 6,305.38 J 242.05 427.15 41725 6,452.54 31.03 33.14 436.40 183.44 32.38 542.55 110.18 34.99 578.33 4225 35.00 575.84 18.63 38.43 576.36 6.45 27.41 550.40 3.36 26.98 53026 4.54 31.93 515.16 4.18 34.01 52256 323 33.23 51821 1.68 32.98 524.02 1.41 30.16 394.36 114.11 108.07 16.08 22.42 29.52 1223 521 3.51 7.30 452 2.75 3.36 1.15 339 „ .«. - - ~ SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 Annual 1989 S-21 1990 | 1990 Aug. 1991 | Sept | OcL | Nov. | Dec. Jan. | Feb. | M if. | Apr. M«y June | July Aug. | S»pt FOOD AND KINDRED PRODUCTS; TOBACCO-Continued DAIRY PRODUCTS Butter: Production (factory), mlto.. „ , „ Stocks, cold storage, end of period, ml"to".\. Producer Price Index, 1982-100 , Cheese: Production (factory), totat, ml to. American, whole milk, ml to. Stocks, cold storage, end of period, ml to. American, whole milk, mlto........................ ,.. 1,295.4 2562 88.0 1.302.2 416.1 71.3 842 4275 70.1 83.4 412.3 7QJS 106.7 413.6 70.5 110.1 407.6 70.6 1212 416.1 70.6 142.1 470.8 67.0 126.3 5243 67.0 131.6 555.9 67.1 133.7 6193 67.3 126.0 647.5 673 98.3 665.6 673 '6645 703 85.0 6332 70.4 592.0 70.0 5.615.4 2,674.1 328.0 234.8 * 126.6 6,061.2 2,890.8 457.8 3472 495.0 233.3 475.7 358.8 472.6 214.8 459.9 348.7 505.9 232.7 445.4 3383 4955 233.6 4373 334.4 522.1 2482 457.8 3472 501.7 247.1 473.8 360.8 458.0 222.4 450.0 342.6 521.4 250.0 486.4 3802 500.7 2365 509.3 402.4 516.0 2475 509.3 405.6 505.4 2352 5185 411.1 '4895 225.0 5115 '4025 493.7 224.5 494.1 3922 4745 372.0 602.6 58.1 49.5 104.5 43.5 101.9 52.0 842 502 71.7 462 58.1 45.1 735 465 84.5 47.^ 86.0 50.6 90.6 46.5 107.1 49.1 109.1 45.1 110. 483 111.1 125,714 89,998 13.73 10,476 7.322 1420 9,973 6,729 13.90 10,223 7242 13.10 10,467 7,369 11.70 10.663 7,755 11.70 9,948 7,190 11.70 11.097 8,069 11.40 10,906 8,107 13.00 11228 8236 11.40 10.573 7303 11.40 M0.472 10316 7,033 12.70 "Tt80 "'1230 175.1 876.6 13.0 62.3 122 522 12.5 54.9 11.8 68.7 812 8.6 82.6 83 775 87.6 9.3 95.1 83 78.6 95 69.8 11.6 563 114.6 122 122.6 13.9 115.3 11.6 115.1 11.3 114.8 11.2 114.6 112 114.6 9.5 955 93 885 10.4 84.4 7.0 675 6.3 693 6.1 68.7 .948 1.063 £83 .863 .855 .849 346 350 344 '.884 395 656 8.945 5.626 3.319 Price, wholesale, Cheddar, single daisies (Chicago), $ per to.. Condensed and evaporated milk: 525.1 Production, case goods, mil. to. 26.6 Stocks, manufacturers', case goods, end of period, ml to. Exports, Onus, irwtric tons ...„ *13.8 Fluid milk; Production on farms, mil.to.t 122.531 85,714 wti(LZ£iuon iii ^^3nLjfoOvur&ci ostnf iiyovJtJtrrS tuti jp 13.56 Price, wholesale, U.S. average, $ per 100 b '. Dry milk: Production: Dry whole milk, (nil. to. ..... 175.8 874.7 Nonfat dry milk (human food), mil. to. Stocks, manufacturers', end of period: 13.0 Dry whole milk, mil. to 49.4 Nonfat dry milk (human food), mil. to. *157.1 Exports, whole and nonfat (human food), thous. metric tons .. Price, manufacturers' average selling, nonfat dry milk (human food), $ per to. 354 GRAIN AND GRAIN PRODUCTS Exports (barley, corn, oats, rye, wheat), mil. bu. Barley: Production (crop estimate), ml metric tons Stocks (domestic), end of period, total, ml metric tons On farms, ml metric tons Off farms, mil. metric tons , Exports, including malt thous. metric tons § Producer Price Index, No. 2 feed, Minneapolis, 1982.100 Corn: Production {crop estimate, grain only), mil. metric tons ..... Stocks (domestic), end of period, total, mil. metric tons On farms, mil. metric tons Off farms, mil, metric tons ... Exports, including meal and flour, mil. metric tons .... Producer Price Index, No. 2, Chicago, 1982*100 „. Oats: Production (crop estimate), mil. metric tons : Stocks (domestic), end of period, total, ml metric tons On farms, ml metric tons Off farms, ml metric tons Exports, including oatmeal, metric tons Producer Price Index, No. 2, Minneapolis, 1982*100 Rice: Production (crop estimate), ml metric tons Southern States mills: Receipts, rough, from producers, ml to. „ Shipments from mills, milted rice, ml to. Stocks, domestic, rough and cleaned (cleaned basis), end OT DGHOO* /77/f /0l ni»l>||iiiiit4MII»luulllli1t»H4HIIUiinl<tit<l Exports, thous. metric tons Producer Price Index, medium grain, milled, 1982=100 Rye: Prodxtion (crop estimate), ml metric tons Producer Price Index. No. 2. Minneapolis, 1982*100 Wheat Production (crop estimate), total, ml metric tons, „ Spring wheat, ml metric tons Winter wheat, ml metric tons Distribution, quarterly, mil metric tons@ „ Stocks (domestic), end of period, total, ml metnc tons On farms, ml metric tons Off farms, ml metric tons ..... Exports, total, including flour, mil. metric tons » Wheat only, ml bu. . See footnotes at end of tables. "I '8.800 7 7.634 7 4.059 7 3.574 -1,841.8 117.9 '191.16 7 17939 7 119.36 7 60.54 *56.66 10Z4 7 3.841 7 2.816 ""Ti7"b *2O151 7 17629 7 123.80 7 52.49 1102 "1119 107.1 94.9 110.7 93.; "*~95.3 """"76.1 *7.027 12,918 8,061 10,351 6,942 2,741 '3.024 107.9 2.106 3 556 66.5 107.1 94.0 96J6 902 97.4 "2.485 •1.341 'M.144 66.0 64.5 68.4 67.6 555 510 2,401 616 2,150 785 828 557 63.9 677 586 682 641 725 574 554 623 512 373 525 1.618 2276 2271 2,106 1,870 1.660 1,618 1.04' 104.0 97.6 ""94.6 942 •""942 1053 T10.3 "T1T4 "117" ""'65.9 64.5 63.0 652 65.9 74.7 713 685 45' 729 ""1145 615 712 514 71 T085 70.: 3 74.53 *19.19 *55.34 62.17 7 51.93 7 20.77 7 1015 38.63 17.56 21.07 1015 2.278 '1.203 6 1.075 '.347 "112L3 *76.0Q *4458 J 31.42 121.65 7734 43.80 93.4 90.8 9.603 5.933 3570 m < 1.067 ''1381 112.8 108.; 17629 123.80 52.49 34.15 19.17 14.S8 ~T6o"i *7.007 '55.43 * 15.84 3 39.59 63.98 '38.71 7 16.11 7 22.60 *3737 (') 101.3 4592 2.065 2527 3 5.184 a *5.423 1.427 *.87O '.557 *58,387 107.1 6 6.656 3.841 2.816 23.77 6558 2722 38.36 14.01 51.93 20.77 31.16 1435 <23.56 29 '1428 55.55 22.53 33.01 1095 733 SURVEY OF CURRENT BUSINESS S-22 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-68 October 1991 1991 1990 1990 Aug. | Sept. | Oct. | Nov. | Dec Jan. | Feb. | May Apr. Mar. June 1 July Aug. | Sept. FOOD AND KINDRED PRODUCTS; TOBACCO-Continued GRAIN AND GRAIN PRODUCTS-Continued Wheat-Continued Producer Price Indexes: Hard red winter, No. 1, ord. protein (K.C.), 1982wioO Hard red spring, No. 1, ord. protein (Minn.), 1982*100....... 109. 108.7 86.3 91.1 71.8 77.6 71.8 75.7 71.9 75.3 70.4 73.8 70.1 73.8 65.6 71.5 682 73.7 74.3 77.7 73.2 79.1 76.4 805 75.2 79.0 69.1 73.0 Wheat flour: Production; Flour, tfwus. sacks (100 b.) -.. Millfeed, Jftous. sh. tons .. Grindings of wheat, thous. bu. Stocks held by mills, end of period, thous. sacks (ido'b) Exports, thous. metric tons ... - ........ Producer Price Index, &83=100 . „ 342,762 6,072 761,02 '6,288 M,195.53 110.5 359,639 6.255 797.589 '8,051 33,689 571,974 73514 29,909 515,161 65,666 '7,980 33,678 584.089 74,938 33,640 578.742 73,933 29.100 500,986 $4,326 '8,051 29.986 529,077 67.251 29.628 499,441 65,694 27,905 495,167 61,620 '7,639 30,499 544,478 67,714 '31,168 '571 '69,878 26,392 478 59,528 8.429 28,432 517 63.785 100.2 93.4 92.0 912 89.4 89.8 88.7 902 92.0 93.0 '94.0 93.4 22,144 469 236 .350 23,669 562 306 .310 2,186 846 593 .315 1,836 855 624 .325 2,300 862 625 2,054 582 338 1.794 562 306 2,120 688 406 270 265 290 1,854 606 339 .280 1,895 633 366 270 2,108 551 301 295 280 2,191 111 451 .300 186.8 188.4 15.9 15.4 16.0 15.9 16.3 16.1 14.7 16.3 15.5 12 14 .777 15 15 .760 19 18 11 16 15 17 9 14 .739 .754 £00 .800 .831 .860 .720 .858 12 it .676 2,100 33,010 1,742 32,391 147 2,918 132 2,553 158 2,877 149 2,622 136 2,380 151 2,808 121 2,407 120 2.443 7622 92.30 75.75 91.50 7546 7,334 7,140 7,461 6,469 7,044 77.5 79.5 805 84.1 90.8 94.0 95.8 2,006 797 503 .305 '2210 '877 '571 .315 2222 929 626 .310 972 655 .310 13.1 15.6 162 16.1 15 14 .609 13 14 .634 13 '18 .731 10 16 .713 13 16 106 £673 103 2,785 90 2,650 108 2,784 108 ;; 2t784 ;;;;; 7.320 6,948 6,133 6,557 7.098 POULTRY AND EGGS Poultry: Slaughter, mil. b. Stocks, cold storage (frozen), end of period, total, ml to, Turkeys mil tb Price, in Georgia producing area, live broilers, $perib\ Eggs: Production on farms, mil. cases § Stocks, cold storage, end of period: Shell, thous. cases $ Price, wholesale, large (delivered; Chicago). Sperdoz it LIVESTOCK Cattle and calves: Slaughter (federally inspected): Calves, thous. animals Cattle, thous. animals „ Prices wholssalB* Beef steers (Omaha), $ per 100 b. „ Steers, stocker and feeder (Kansas City), $ per 1Mb. Calves, veaJers (So. St. Paul). doBats 72.52 81.45 248.62 Hogs: Slaughter (federally inspected), tfwus. animals..... Prices* Wholesale, average, all weights (Sioux City), S per 100 b. Hog-corn price ratio (bu. of corn equal in value to 100 to. five hog) 86,328 82,901 43.91 Sheep and Iambs: Slaughter (federally inspected), thous. animals Price, wholesale. Iambs, avg. {San Angelo, TX), $per 100 b. * „ - 7,110 6.716 56.37 55.64 17.3 2Z5 22.3 23.4 25.9 232 212 22.0 225 21.5 21.0 22.7 23.7 23.8 '22.0 5,295 5.469 463 422 490 465 449 495 449 546 ' 436 443 388 431 438 19.7 52.00 66.06 MEATS Total meats (excluding lard): Production, mil b. „...„ Stocks, cold storage, end of period, ml b. Exports (meats and meat preparations), thous. metric tons Imports (meats and meat preparations}, thous. metric tons Beef and veal: Production, total, mil. to. Stocks, cold storage, end of period, mi! fc Exports, thous. metric tons .„.,., Imports, thous, metric tons ....... Price, wholesale, beef, fresh steer carcasses, choice (600-700 bs.)(Central U.S.), $p$rb., Lamb and mutton; Production, total, ml to. Stocks, cold storage, end of penod. md b, „ Pork (excluding lard): Production, total, ml b. „ Stocks, cold storage, end of penod, mi! b. Exports, thous. metrictons„ „„ „ Imports, thous. metric tons Prices: Producer Price Index, hams and picnics, except canned, 1288*100 * ll Z Fresh loins, 8-14 to. average, wholesale (Omaha), Sperb.* - „ .. „ 39.418 535 1.301 '1,110 38,606 566 3,430 507 3,095 507 3.498 537 3273 535 3,080 566 3,427 585 2,954 590 3,083 602 3285 645 3291 613 3,060 599 3252 '590 3,426 576 595 23.319 256 '568 '682 22,950 306 2,091 247 1341 249 2.075 273 1,870 283 1,708 306 1.999 308 1,720 277 1,746 283 1,895 272 1,971 241 1,894 254 2,018 '279 2,099 265 284 357 30 9 27 9 32 8 30 8 30 8 33 9 30 10 36 8 29 7 30 25 8 28 7 27 6 6 1,310 225 1228 226 1,392 232 1,373 221 1,342 234 1,396 248 1204 281 1,301 289 1,361 341 1291 333 1.140 312 1207 '278 1,299 282 282 123.5 123.0 130.4 131.9 129.5 114.4 117.7 116.7 111.8 '110.7 113.4 114.3 115.6 1135 12494 12163 356 350 314 290 275 308 343 349 1 1.078 342 15,757 256 '152 '358 15,299 234 99.7 118.6 1.0111 MISCELLANEOUS FOOD PRODUCTS Cocoa (cacao) beans, imports (including-shells), thous. metric tons . .„„ „ „. . ......... Coffee: Imports, total, metric tons ..„ „ From Brazil, metric tons , U.S. Import Price Index, TS85-J00 . Fish: Stocks, cold storage, end of period, mX. to Settoowotesat end o> bbtes. „ ....... '266.1 „ ' 1,162,920 '249,295 692 59.3 430 343 57.1 63.1 356 369 342 57.7 267 532 54.9 312 SURVEY OF CURRENT BUSINESS October 1991 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-88 S-23 1990 1990 Aug. Sept. | 1991 Jan. Oct. | Nov. | Dec. Mar. | Feb. Apr. | M«y | Juni | July AUQ. 1 StpL FOOD AND KINDRED PRODUCTS; TOBACCO-Contlnued MISCELLANEOUS FOOD PRODUCTS-Continued Sugar: Exports, raw and refined, metric tons Imports, raw and refined, thous. metric tons Producer Price Indexes: Raw (cane) 1982=100 Refined, 1982= 100 Tea imports metric tons ». .. '412,044 '1542 . 115.5 1182 '85,257 1192 122.7 '1,367 3.803 '224,382 'I80286 '1,607 3,674 147,495 561,021 2.365 '41.755 178,742 523.094 2233 119.6 122.6 119.3 123.1 119.8 123.0 119.5 122.7 117.9 122.4 115.6 123.1 113.1 1232 113.3 122.9 113.1 122.0 ' 112.8 "121.3 1133 121.0 112.6 121.4 114.4 121.4 114.0 121.3 TOBACCO 19,419 44,009 191 18,791 45.562 210 17,672 34,134 158 21,007 34,514 152 16,652 39,407 145 14,689 47,061 163 III i 12,778 43267 195 HI 15.286 49,893 211 IN » 3,075 3.458 ill Taxable millions Cioars (large), taxable, millions 3,674 3,463 IN Leaf: Production {crop estimate) mil to. Stocks, dealers' and manufacturers', end of period, mil. to. .... Exports, incl. scrap and stems, metric tons Imports, incl. scrap and stems, metric tons Manufactured products: . Consumption (withdrawals): Cioarettes (smalt): 12.793 40.106 175 LEATHER AND PRODUCTS LEATHER Exports: Upper and lining leather, thous. sq. ft Producer Price Index, leather. 1982=100, .. „„..„ WOA i_ 1765 i'75"4 174.9 174.7 18,844 16,531 18,221 15.359 12.596 11,319 3,616 1,640 309 (5) 3,694 10381 3,208 1,770 261 8,808 1,946 1,842 291 135.7 121.4 113.9 137.3 121.7 113.9 137.3 121.9 1105 138.0 121.9 110.7 1721 '"""i737 M727 1*612 772.0 "•""t(5773 "" 165.7 LEATHER MANUFACTURES Footwear: Production total thous. pairs ........ Shoes, sandals, and play shoes, except athletic, thous. pairs „ Slippers, thous. pairs Athletic thous pairs Other footwear tfrcus. pairs Exports thous. pairs ..... Prodxer Price Indexes: Men's leather upper, dress and casual, 1982*100 Women's leather upper. 1982*100 Women's plastic upper, 1982-100 210,490 201,648 57,534 41,184 3,680 3,405 13,177 3,514 2.153 291 127.5 1162 110.0 135.8 120.9 113.4 135.7 121.5 1132 R *47,787 *** ................ "32010 "9235 «6,542 '898 138.3 121.3 110.7 140.3 122.3 110.7 140.3 123.8 113.4 141.0 124.0 113.6 ' 141.4 124.1 M15.6 141.4 1242 116.6 138.4 124.3 116.9 3.661 638 2,823 3,617 791 2,826 "—• ZZZZZ " " * " " • " " " iZZZ 141.7 124.8 116.9 141.7 124.8 116.9 LUMBER AND PRODUCTS LUMBER-ALL TYPES* [Millions of board feet unless otherwise indicated} National Forest Products Association: '58.749 Production, total 3 Hardwoods « 10,869 Softwoods „ *47,880 2 Shipments, total 49.003 Hardwoods ., ~ » * 11,347 Softwoods *37,656 Stocks (gross), mil), end of period, total ~ Hardwoods 4,898 Softwoods Exports, total sawmill products Imports, total sawmill products, thous, cubic meters..................... •""'64,355 '54.638 *9,480 '45,159 '46,083 * 10,102 '35,981 4.060 1,025 3,035 3,987 928 3.059 3,602 886 2,716 3.453 794 2,659 4,015 961 3,054 3,890 846 3.044 3,412 857 2.555 3.357 789 2.568 2,914 736 2,178 2,873 624 2249 3334 851 2,683 3240 755 2.485 3.410 810 2,600 3,301 711 2,590 3,958 880 3,078 4.037 855 3.182 3,837 916 2,921 4.028 876 3,152 '3.762 803 '2.959 '3.764 -761 '3,003 3,633 846 2,787 3,590 775 Z815 zzz 4,734 4,752 4,810 4,834 4,809 4,734 4*925 4,949 "•"'4,946 •""""47849 4,600 4,699 4,684 —«-"- 8,749 452 8.751 8.798 772 590 421 715 712 829 713 472 663 662 830 673 431 704 714 820 596 432 590 595 815 547 452 484 527 772 613 437 671 628 815 643 434 656 646 825 829 556 722 707 840 865 607 803 814 829 797 586 737 818 748 680 532 700 734 714 579 475 673 636 751 709 443 707 741 717 138.0 139.9 135.1 126.8 1253 127.8 129.4 128.0 125.7 129.9 '144.4 173.3 166.0 130.7 SOFTWOODS [Millions of board feet, unless otherwise indicated} Douglas fir Orders, new „ „ Orders, unfilled, end of period ~ Production Shipments ...» Stocks (gross), mill, end of period ..................... .... Exports, total sawmill products, thous. cubic meters Sawed timber, thous. cubic meters Boards, planks, scantlings, etc., thous. ctixc meters Producer Price Index, Douglas fir, dressed, 1982*100 See toosnotej at end of tables. 9,552 501 9,620 9,687 809 '2,781 '335 '2,450 151.6 = 131.1 SURVEY OF CURRENT BUSINESS S-24 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-88 Annua 1989 | October 1991 1991 1990 1990 Aug. Sept. Oct. Nov. Dec. Jan. | Feb. Mar. Ap,. May | June | July Aug. | Sept. LUMBER AND PRODUCTS—Continued SOFTWOODS-Contlnued [Millions of board feet, unless otherwise indicated} Southern pine: Orders, new Orders, unfilled, end of period Prodxtion Shipments '. Stocks (gross), mill and concentration yards, end of period Exports, total sawmill products, cubic meters Producer Price Index, southern pine, dressed, 1982=100 Western pine: Orders, new Orders, unfilled, end of period Production Shipments Stocks (gross), mill, end of period . . Producer Price Index, other softwood, dressed, 1982=100 ' 12.366 633 '12,544 '12,567 2,049 * 1,206,526 108.0 ' 12,827 697 M2,911 M 2,763 2.197 1.024 670 1,114 1.092 2,021 881 643 990 901 2,111 1,181 687 1,147 1,136 2,135 890 653 947 929 2.143 859 697 867 815 2,197 855 665 950 892 2.242 979 677 924 961 2219 1,147 756 1,024 1,065 2.177 1,059 696 1,102 1,124 2.164 1,275 821 1,071 1,146 2,080 '968 690 '1,123 '1,101 2,090 1,072 641 991 1,120 1,973 111.0 114,0 110.5 104.0 104.7 102.6 103.9 100.3 103.6 110.0 '110.8 123.0 125.1 11,143 506 11^29 11,174 1,402 127.1 10,582 483 10,452 10,605 1^11 126.3 883 507 879 908 131 775 503 759 779 1,271 872 510 873 865 1,279 712 454 752 768 1,263 692 483 611 663 1,211 701 472 764 712 1,263 711 470 742 713 1,292 835 548 788 757 1.323 916 582 849 882 1290 933 649 1250 760 550 835 859 1,226 772 545 848 777 1,304 125.7 125.5 120.9 119.8 119.0 119.6 119.5 122.3 125.6 '131.5 145.6 9.5 206.5 7.6 8.3 205.3 10.0 13.0 192 7.9 11.9 18.7 7.9 8.2 17.1 9.3 9.2 15.2 9.6 8.3 142 10.0 8.2 14.3 122 8.1 15.1 11.4 9.5 18.7 10.0 9.7 17.1 9.8 10.7 16.4 11.1 17.9 10.9 109.5 147.7 529 914 915 1,303 133.2 130.0 11.0 13.8 10.1 11.5 17.3 9.9 13.1 18.0 8.9 495 723 1 ::::::::::::: HARDWOOD FLOORING [Millions of board feet] Oak: Orders, unfilled, end of period Shipments Stocks (gross), mill, end of period ....... METALS AND MANUFACTURES IRON AND STEEL [Thousands of short tons} Exports: Steel mill products Scrap Pig iron 4,578 13,305 12 4,303 12.765 16 269 1,032 (3) 344 792 2 425 1232 1 494 868 1 412 826 1 439 732 1 486 851 1 368 863 1 595 862 1 598 1,252 (3) 772 1260 2 627 857 Imports: Steel mill products Scrap Pig iron 17,321 1,120 488 17,162 1,424 383 1,629 130 65 1,381 88 20 1,513 170 31 1,598 162 52 1,552 160 28 1,655 81 56 1291 92 70 1.231 87 48 1,571 83 56 1,367 102 11 1,080 89 15 1,395 114 30 1,032 101 39 '23,014 '41,671 '65,507 '4,213 23,083 39,624 63,705 3.989 1,942 3,406 5,437 3,747 1,943 3266 5259 3,784 1,940 3,454 5,340 3,789 1,821 3251 5.050 3.978 1,636 2,828 4,614 3,989 1,801 2.974 4,947 3,999 1,599 2,804 4,458 3,978 '1,689 '2,991 '4,679 '4,102 1,701 3,038 4,796 4,036 105.61 105.46 112.52 110.81 108.88 105.63 103.17 '103.06 '100.74 '9723 '9624 '9328 '87.56 85.81 88.79 59,032 68.299 19,596 55.468 55266 18,054 4,274 5.273 1.669 4235 5,053 1,848 4,069 5,140 2,010 3,677 4,540 2,075 4,646 5,452 1,350 4,451 2269 698 4,274 1,585 397 4,135 1,897 503 4.754 5.264 834 4,846 5,678 1,485 5,070 5,548 71,156 73.059 5.365 22,476 4.575 15,730 2,171 73,797 73,681 3.199 22.978 4.795 15.910 2,273 8.163 6,867 168 22,110 8277 12,045 1,788 7,080 6,200 21 22268 7,461 12,929 1,878 7.521 6.353 85 22.027 6.398 14,116 1,513 6,923 6,075 151 22,042 5,535 14,969 1,538 6,347 5,436 24 22,978 4,795 15,910 2,273 3,220 5296 11 22.572 6.493 13,820 2,259 1,831 4,475 5,096 4,830 401 20,757 10,910 8,749 1,098 6.380 5,083 541 21,756 10,078 10,067 1,611 6,624 4,971 6,765 5,514 6,617 5,564 22218 9.182 11,174 1.862 2.615 5,296 1 21,316 11,421 8.493 1,402 23"l74 9.604 11.732 1,838 13,044 1,765 K098 1,926 55.873 51,106 275 54,925 50,019 130 4,788 4.344 187 4,629 4200 180 4,673 4,305 176 4,523 4,120 165 4,264 3,807 130 4.077 3,808 149 3,470 3,354 125 4.047 '3,867 '129 3.830 3,573 134 3,885 3,830 4,179 4,121 Iron and Steel Scrap [Thousands of metric tons, unless otherwise indicated} Production Receipts, net Consumption Stocks, end of period Composite price, No. 1 heavy melting scrap: American Metal Market, $ per metric ton Ore [Thousands of metric tons] Iron ore (operations in all U.S. districts): Mine production ......................... Shipments from mines Imports.... U.S. and foreign ores and ore agglomerates Receipts at iron and steel plants Consumption at iron and steel plants . Exports (domestic) Stocks, total, end of period At mines At furnace yards At U.S. docks Manganese (manganese content), general imports Pig Iron and Iron Products [Thousands of short tons, unless otherwise indicated} Pig iron; Production (including production of ferroalloys) Consumption, thous, metric tons., . Stocks, end of period, thous. metric tons Castings, gray and ductile iron: Shipments total For sale Castings, malleable iron: Shipments, total .................. . ........ For sale . . ......... See locates at end of aties. 7,490 5.323 283 129 . *'".." 4,175 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-88 | S-25 1990 Annual 1990 Aug. | Sept. | 1991 NOV. Oct | Jan. Dec. | Feb. | Mar. [ APT. June Jury 1 Aug. 1 Sept METALS AND MANUFACTURES-Contlnued Steel, Raw and Semifinished [Thousands of short tons, unless otherwise specified} 98 015 84.0 8452 85.5 3094 84.6 8424 85.1 8 021 83.8 7422 75.0 7577 74.6 6705 73.1 7283 71.7 7089 725 7076 70.0 7017 71.7 7338 74.8 7386 84,100 84,981 7,366 6,693 7,643 6,937 6,187 6,786 6,039 5,966 6,450 6,762 6,623 6,420 6.954 6,236 5,355 7,384 562 6,313 6.093 7,945 519 488 557 694 34 486 517 630 546 494 446 474 680 44 586 37 533 506 675 44 550 470 551 52 527 35 548 532 660 46 550 465 590 52 595 463 61S 41 647 421 583 32 584 479 565 21 642 520 568 Bars and tool steel, total Bars: Hot rolled (including light shapes) Bars: Reinforcing .. Bars: Cold finished 14,171 7,617 5,015 1,472 14,727 7,878 5.305 1,436 1,284 713 439 127 1232 692 420 116 1,314 739 438 132 1,199 682 398 114 1,006 562 355 85 1,107 660 317 125 1,051 586 349 112 979 540 323 107 1.111 111 1,110 572 425 110 1.077 549 420 104 1,097 560 434 99 1,154 593 444 112 Pipe and tubing * Wire-drawn and/or rolled Tin mill products Sheets and strip (including electrical), total Sheets: Hot rolled Sheets' Cold rolled 4,011 1,002 4,126 41,261 12,898 13,854 4,652 918 4,032 39,784 13.388 13,199 424 78 368 3,439 1,165 1.129 373 71 321 3,229 1,080 1,049 452 79 360 386 62 315 3,212 1,068 1,099 368 51 406 2,813 1,018 952 414 69 335 3,105 1,151 980 398 67 292 2,608 917 83S 424 75 298 2,605 986 791 411 82 342 2,846 974 922 428 77 365 3,03 1.11S 936 383 73 336 3,071 1,145 924 332 75 350 2,918 1,074 906 402 7S 35S 320£ 1,162 982 18,185 6,661 2.863 11,180 1,096 2.162 4,458 37,488 18,250 ,...,. 7,391 ,„„ 2.793 10444 901 2,104 ................ 4.474 38,378 4,091 , „.. 1.62S „„ „. _„„„. 539 2047 261 ,„, „ 481 „„,„„, .„,„„ . 1,005 .„,„ 8,701 4218 1,711 1,403 ^528 2 206 *68S 349 *112 3 366 2 3,064 * 1,534 *614 '202 '632 2 56 3 13^ '369 »3214 13 £ '13' Production Rate of capability utilization, percent '97943 84.5 Steel castings: Shipments total For sale, total 752 7457 785 1 137 1122 Steel Mill Products (Thousands of short tons] Steel products, net shipments: Total (all grades) Semifinished products Structural shapes (heavy), steel piling Plates Rails and accessories By market (quarterly); Service centers and distributors Construction, inol. maintenance Contractors* products Automotive . .,... Rail transportation Machinery, industrial equipment tools Containers, packaging, ship, materials Other ...... ...... „ 3,653 1,197 1218 4,627 1.843 ,„ 686 .„„., 2,644 „, ................ , 222 490 .„.„,......... ,.,„„ ...„ 1,135 9,511 „ , 4.424 1.836 „„,„„ ,.„ 703 2337 203 467 1,183 „„, 9,594 t „ ................ 452 548 58 603 392 547 11 237 214 425 1.130 9235 3 21 [Millions of short tons} Producing steel mills, inventory, end of period: Total Steel in process Finished steel ..... Steel service centers (warehouses), inventory, end of period 353 186 343 191 354 199 84.3 23.; 882 85.1 20' 75.9 20J 205 97.; 201 467 381 .6331 82.8 441 .6388 56.4 48' .5932 5775 69.0 44! .5896 337 155 347 152 349 174 317 155 352 18C 58.7 60.6 231 79.5 23 e 79.4 23.1 76.0 249 .6975 61.1 34 £ .6875 54.8 .6813 1,086 4,048 '2,393 341 182 332 160 347 172 923.0 "J3404 959.6 3403 82.1 76.4 285 283 66.E 30 £ '*593.1 rJ 4462 .8784 '679.8 4377 .7404 15,468 12,304 7,612 2,200 4,030 2.054 340 196 13E 6.1 6.9 136 84 52 5.9 137 79 58 6.9 137 79 55 82 '52 6.1 136 79 57 6.7 13 5 7.9 56 6.4 * 134 75 7.9 51 53 62 140 81 59 6.7 138 8.2 56 6.5 14 0 8.1 59 6.7 130 58 6.5 82 56 6.6 84 54 6.4 135 82 NONFERROUS METALS AND PRODUCTS [Thousands of metric tons, unless otherwise specified} Production, primary (dom. and foreign ores) Recovery from scrap . Imports: Metal and alloys, crude Plates sheets, bars etc Exports: Metal and alloys, crude Plates sheets bars etc Price, U.S. market 99.7% purity, monthly average. $ per to... Aluminum products: Shipments: Ingot and milt prod, (net ship.), ml to. Mill products, total, ml to. Sheet and plate, mil, Ib. ...... Castings mil. Ib Inventories, total (ingot mill products, and scrap), end of period, mil. Ib. „...., _ Copper Production: Mine, recoverable copper Refined from primary materials From domestic ores @ From foreign ores . ~. Electrowon Refined from scrap... Refined, unrefined, scrap (copper com.) Ftefineci Exports: Refined and scrap Refined Consumption, refined (reported by mills, etc.) Stocks, refined, end of period Price, avg. U.S. producer cathode, delivered, $perb.§ See footnotes at end of tables. J ' 59.6 39 > .8223 622 355 71.3 48 367 .8805 14,757 11.960 7,514 1.272 1,08£ 1,224 90S 576 1.12C 844 574 1.17J 973 621 1,247 1,031 647 1.098 941 586 877 561 122 94( 618 121 692 635 1295 1.03 669 '127 '995 '639 1.390 1,02: 674 4,016 4,013 3580 4,040 4,119 4,028 4.013 4,068 4,169 4256 '4212 '4,135 '4,046 4,012 '1,497.8 1,476.8 '1,5872 '1,576.6 '137.0 124.5 M36.S 126.8 '141.< 140.1 ' 139.9 132.3 '136.1 "134.8 "132.1 '131.0 '126.6 '123.9 137.9 128.7 1292 123.3 - 1.164.9 "1,183.2 '89.4 '93.8 '105.5 100.5 '101.6 '101.8 '94.2 96.6 92.8 311.9 '4795 '393.5 440.7 '35.0 '33.1 29.9 '34.5 34.3 31.7 31.8 332 32.0 '292 '34* '29.7 "28.7 30.1 392 30.6 38.0 467.0 263.6 28.7 18.C 31.4 21.4 31.6 18.' 46.0 20.S 27.1 16.7 38.4 39.5 27. 27.9 577 201 172 536 51 0 409 172 164 198 147 753 374 172 'M 1.1976 "101 1.1561 520 214 '145 '11 1.150 457.7 •» 300.1 J ... ...... 53.6 395 .8035 J . 39.0 306 5656 130.2 2,203 M07 1.3094 J 211.3 2,143 '101 15316 '91 1.3496 22.4 179 '71 1.3422 215 184 Hi 13018 338 .7252 22; 676 336 '175 '106 1.1461 365 21. 10 1.1395 991 44.7 30.J 402 168 163 10 1.131 350 203 ...„._..„.- 5766 5575 - - — _ - - SURVEY OF CURRENT BUSINESS S-26 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1939 1961-68 October 1991 1991 1990 Annual 1990 Aug. | Sept. | Oct. NOV. | Dec, Jan. Feb. | Mar. Apr. | M-y | June Jury | Aug. | Sept. METALS AND MANUFACTURES-Continued NONFERROUS METALS AND PRODUCTS-Contlnued [Thousands of metrictons,unless otherwise specified} Copper-base mill and foundry products, shipments (quarterly Brass mill products mS. ft, ,. ....... Copper wire miij productsjcopper content), ml t. Brass and bronze foundry products, ml *>. Lead: Production: Mine, recoverable lead Recovered from scrap {lead content)" ~ Imports ore (lead content) Consumption, total ...„.„„ Stocks, end of period: Producers', ore, base bullion, and in process (lead content), ABMS „ ~ Refiners' (primary), refined and antimonial {lead content) ... Consumers' (lead content) 0 Scrap (lead-base, purchased), all smelters (gross weight) .. Price, common grade, delivered, $perb.@@ Tin: Imports (for consumption): Ore (On content), metric tons „ _ Metal, unwrought. unalloyed, metric tons Recovery from scrap, total (tin content), metric tons As metal, metric tons ..... ..„,.. Consumption, total, metric tons Primary, metric tons ..„.„,. ........ Exports (metal), metric tons ........ Stocks, pig (industrial), end of period, metric tons Price. Straits quality (delivered), $pert. Zinc: Mine prod., recoverable zinc Ores (zinc content) „ Metal (slab, blocks) Consumption (recoverable zinc content) Ores ^ r a p , all types _ Production, total t Consumption, fabricators Stocks, end of period Producers' at smelter (ABMS) Consumers Price, high grade, S per to „ » 41.6 71.0 46 1012 37.8 72.0 77 101.3 435 710 101.3 41.1 '74.4 78 "105.3 98.4 36.4 71.7 112 94.3 53.9 25.5 62.8 20.1 .3852 60.3 242 6Z0 15.8 .3452 63.7 24.3 '53.5 '13.5 .3323 61.0 27.0 52.9 11.3 '.3334 59.4 21.3 49.4 122 .3330 65.9 17.5 48.9 12.8 .3260 73.6 162 43.3 11.4 .3203 2,786 594 2.280 439 2,403 560 2,934 489 1,601 585 1,946 554 2,554 478 2,006 '558 4,100 3,100 22 4,762 3.9932 4200 3,100 10 4,819 3.9440 3.900 2,900 52 4,829 3.7321 4,100 3,000 25 6,337 3.6822 3.900 4,100 3,100 11 6,688 3.6075 4,300 3,200 111 6,177 3.6204 4,100 3,100 129 5.993 3.6834 4,200 3,200 145 5,991 3.6895 44.7 42.7 40.4 43.6 455 41.9 43.8 45.5 49.4 36.9 9.1 49.4 4.8 472 4.0 46.5 1.6 40.9 8.0 50.0 1.0 415 1.1 37.0 1.4 39.8 8.1 35.7 21.1 21.1 21.1 2 21.1 2 21.1 2 21.1 2 21.1 2 21.1 21.1 207.8 997.0 5.8 17.6 100.0 .5 16.0 73.0 5 17.9 86.0 .6 16.0 73.0 .5 172 67.1 2 17.3 80.0 .3 15.0 69.0 .4 16.9 65.9 .4 15.8 67.8 .4 17.7 68.3 .7 15.6 68.6 4.7 60.3 .8206 4.6 41.6 .7459 4.0 47.1 .7898 5.3 46.1 .7777 4.5 41.7 .6754 4.7 41.7 .6294 4.6 41.6 .6209 3.9 415 "5808 5.3 412 5593 8.5 40.6 5611 3.9 43.7 .5763 4.7 43.0 .4984 42 39.3 .4840 394.5 84.3 138.1 433.0 89.6 140.3 155,6 1319 1350 1200 1302 1214 1185 1277 121 3 1357 1225 1402 117.4 121.1 125.0 123.8 118.8 114.0 112.9 104.9 107.0 107.4 107.0 104.1 108.3 109.8 107.6 ................ 183.6 200.5 229.1 213.3 205.7 2032 185.3 203.4 218.7 203.3 208.5 216.8 190.8 213.9 216.1 220.5 182.0 189.4 190.1 190.2 190.7 191.1 191.8 193.0 193.3 194.4 1952 195.6 195.7 196.0 196.5 196.3 144 133 138 131 140 135 133 123 141 141 123 130 114 118 131 128 124 129 130 140 132 138 123 137 120 127 112 120 '116 128 120 127 1,976.35 1,722.80 2,358.60 2,05920 1,423.3 Z070.30 1,771.95 2,329.60 2,004.45 1,164.0 22855 21220 155.75 135.85 1285.1 209.15 190.75 189.95 168.30 1,304.3 182.40 166.05 188.80 164.90 1,297.9 136.65 113.10 182.20 160.60 1252.4 178.10 151.10 266.45 209.95 1.164.0 130.05 107.20 110.80 93.25 1,1832 186.25 113.80 133.15 109.45 1236.4 15355 127.20 173.85 148.75 1216.0 136.45 109.95 145.35 12655 12072 109.60 96.45 173.85 157.25 1,1425 130.95 87.70 142.60 104.30 1,1312 '145.60 '12325 '149.40 '137.35 '1,127.4 126.40 117.30 137.35 121.85 1,1165 172.90 149.55 163.60 138.30 1,125.8 831.60 719.05 837.00 704.15 380.3 894.40 760.55 970.30 851.10 304.4 48.25 47.95 75.60 61.30 322.9 5520 45.90 108.95 94.30 2692 65.70 68.10 64.95 5720 289.9 66.10 48.15 85.25 63.40 270.8 117.70 10225 84.05 7720 304.4 69.80 59.80 71.75 61.00 302.4 58.90 51.30 69.00 58.80 292.4 51.90 31.45 103.00 86.05 2412 5725 37.30 61.70 47.05 236.8 43.40 35.05 58.00 44.60 2222 41.95 25.05 6955 47.15 194.6 '47.65 '26.90 '63.40 '35.00 '178.8 109.35 87.05 46.00 30.75 2422 70.75 56.30 4950 36.05 263.0 ''410.9 '808.6 J 12O8 ' 1,283.2 ''474.0 "923.0 984 '1255.7 45.9 71.8 63 112.4 36.8 71.0 422 77.5 37.4 72.3 35.5 77.3 41.5 79.0 104.6 109.0 104.3 97.3 73.5 15.6 82.7 17.4 .3935 53.9 25.5 62.8 20.1 .4602 63.7 19.9 62.3 26.6 .5036 61.8 20.6 63.9 242 .4947 52.3 23.7 62.6 24.9 .4616 55.7 22.8 60.4 22.3 .4275 J 216 •»33,988 '15.213 '569 46,371 39,000 J 904 6,072 52018 33,810 17275 186 44.363 36,900 658 4,829 3.8629 <£} 2,491 580 4,090 600 4,300 3200 3.836 3.9026 4,100 3,000 36 3,449 3.8019 '275.9 507.7 57.1 •»41.0 •*711.6 46.7 631.7 8.5 70.9 2.1 '251.7 2.4 250.3 21.1 205.3 '1,060.0 '8.0 "8 6.677 3.6488 - 74.3 75.7 73.1 I3279 5286 13339 299 3,900 3,000 6"352 3.6707 36506 „ 2 21.1 : 16.4 13.6 15.6 3.6 2.9 3.5 !4867 MACHINERY AND EQUIPMENT (Millions of dollars, unless otherwise specified} Industrial heating equipment, new orders (domestic), qtriy f Hectric processing heating equipment „ „ Fuel-fired processing heating equipment — Materials handling equipment, dollar value bookings index, 1982*1001 industrial supplies, machinery, and equipment New orders index, seas, adj., 1987*100 @ Industrial suppliers distribution: Sales index, seas, adjusted, 1977*100 Inflation index, not seas. adj. (tods, material handling equipment, valves,fittings,abrasives, fasteners, metal products, etc.), 1977-100 Fluid power products shipments indexes: Hydraulic products, 1985=100 ... Pneumatic products, 1985*100..:. Machine tools: Metal cutting type tools: Orders, new (net), total „ Shipments, total Domestic Order backlog, end of period Metaltorminatvoe toots' Orders, new (net), total Domestic Shipments, total Domestic Order backlog, end of period „ !,Z"1 .,.„......„ ."1 „. Z.~ ................. „. „ ...„ „ See footnotes at end of Sables. „. 155.0 20.4 85.6 82.4 14.7 28.4 129.6 302 47.1 88.5 22.3 16.4 1148 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-88 S-27 1991 1990 Annual 1990 Aug. | Sept. | Oct | Nov. | Dec Jan. Feb. | y ir. | Apr. July I Aug. I Sept. 55*1 1542 6,545 1,682 6362 METALS AND MANUFACTURES-Continued MACHINERY AND EQUIPMENT-Continued Tractors used in construction, shipments, qtrty: Tracklaying (ex. shovel loaders) units Tracklaying (ex. shovel loaders}' mil $ Wheel (contractors' off-highway), units Wheel (contractors1 off-highway), ma $ 10,846 1,183.7 4545 383.2 60.855 2225.7 Shovel loaders, mil. $ ELECTRICAL EQUIPMENT [Thousands] Batteries {auto.-type replacement) shipments Radio sets, production, total market $ i Television sets (incl. combination models), production, total market**..... Household major appliances, industry shipments # Air conditioners (room) Dishwashers Disposers (food waste) Microwave ovens/ranges Ranges Refngerators Freezers... Washers... Dryers, including gas Vacuum cleaners (otrly) 64,433 '25254 65,187 21585 6,475 1,974 6,477 2,723 6.692 2.923 6,505 2.075 5,366 1,438 5,163 1,376 4,079 1.345 4,063 1298 4,700 1,356 4,932 1.186 5265 1261 24,859 21,779 1,846 2,199 1,772 1,658 1,753 1,318 • 1,454 1,761 1267 •*1235 1.397 1245 1,569 2249 '46.567 '5,091 '3,668 4,363 '10,598 '3,048 '7,099 '1219 '6252 '4,574 11373 42,739 4,150 3,637 4,137 8,126 2,989 7,101 1296 6,192 4,320 10963 3.323 '3.390 3.509 2.985 2.837 3,605 3,720 3,944 3.384 3247 3,324 54 303 419 676 2 345 347 899 278 590 101 535 392 10 280 265 792 253 494 97 446 339 82 276 262 688 228 451 100 417 319 2.984 185 255 30S 565 3,524 82 321 348 587 288 656 136 515 357 3.362 159 322 362 666 236 434 75 486 344 532 305 282 471 278 613 288 268 483 95 555 496 278 362 511 277 533 447 304 36C 543 275 787 142 546 351 171 287 294 507 263 774 154 511 347 63 301 355 54 273 673 13£ 525 345 12 286 459 610 280 666 137 513 351 2,162 2.167 4,130 1,950 2,167 3,906 157 171 301 196 18< 279 211 '286 626 123 518 359 3 035 418 2513 toe 507 344 285C 606 114 51S 344 306 50S 264 664 109 490 31S 2405 GAS EQUIPMENT (RESIDENTIAL) [Thousands] Furnaces, warm air, shipments Ranges, total, shipments Water heaters (storage), automatic, shipments 'V 188 168 299 220 190 287 216 209 378 192 186 315 153 167 372 150 19C 347 128 18 318 126 19; 332 206 220 162 20; 315 120 194 346 110 184 319 216 226 193 105.4 '105.0 105.0 105.0 81,816 78,764 81578 PETROLEUM, COAL, AND PRODUCTS COAL [Thousands of short tons, unless otherwise specified] Anthracite: Production Exports, thous. metric tons...™". Producer Price Index. 1982=100 Bituminous and lignite: Production 3,519 *677 103.4 3,121 '307 354 310 183 104.3 "104.5 "iO5*3 "ms "'106.B 210 "ToTe T66.6 980,729 1,029,035 91,558 '62.813 93,418 82,835 85271 890,559 117,503 41,369 6,167 894,556 771,678 116,154 39,824 6.724 82,951 72,942 9,510 3,397 498 76,469 66,727 9,332 3,276 409 74,982 64,264 10,303 3,450 413 86,772 71,729 60,916 10.189 3,351 624 75,676 Consumption, total Electric power utilities Industrial, total Coke plants (oven and beehive) Residential and commercial 79247 68.335 9.852 3.139 1.059 81.734 71,190 9.682 3,031 862 68.309 58.443 9261 2566 605 69.321 59,195 9,586 2,985 541 Stocks, end of period, total Electric power utilities Industrial, total Oven-coke plants . 146.087 135,860 10227 2.864 167,208 155,163 12,045 3,329 161,585 150,123 11,461 3255 160.739 149,013 11,727 3,124 167,023 155,191 11,832 3,192 171.834 159.895 11,938 3260 167208 155,163 12.045 3,329 160224 148,736 11,488 3262 163,133 152,202 10.931 3,196 167,406 157,031 10,375 3,130 Exports excluding lignite, thous. metric tons Producer Price Index, 1982*100 '91.458 95.4 95.984 97.3 9.131 96.8 9288 97.4 7,943 98.1 8,728 98.7 7,088 97.8 5,637 98.4 7,373 98.1 33,015 39,533 28,948 40,332 3,617 7,003 3,306 3,366 3,351 7.132 3,502 3518 1.919 1,703 216 1.720 1,918 1,674 244 1,436 1.514 1.840 1,649 191 1.450 1,430 1.509 1,918 1.674 244 1,436 70.9 4381.3 87 752 441.3 91 91.0 428.9 91 118.0 405.4 84 97.3 395.6 84 79.3 401.8 83 162,804 165,483 7237 97.4 6275 972 9,088 97.1 97.4 98.0 3,056 5,967 3276 3,303 3527 3,404 3,537 1.426 1,680 2.093 1331 263 1,791 1,646 1,674 1.742 1,680 87.9 400.8 83 370.1 84 54.1 404.4 83 '58.8 425.6 87 562 423.7 90 59.3 432. 89 COKE - Stocks, end of period: Oven-coke plants, total At furnace plants .... At merchant plants . Petroleum coke „„. 3 1.043 Exports, thou. metric tans .. PETROLEUM AND PRODUCTS [Millions of barrels, unless otherwise specified] Crude petroleum: Producer Price Index, 1932.100 Gross input to crude oil distillation units Refinery operating ratio, % of capacity All oils, supply, demand, and stocks: New supply, total 0 Production: Crude petroleum., Natural gas plant liquids ... Imports: Crude and unfinished oils . Refined products Change in stocks, all oils Product demand, total . Exports: Crude petroleum Refined products - -. See footnotes at end of ttfes. 56.3 4,959.7 86 642 83,583 61298 [Thousands of short tons, unless otherwise specified] Production: Beehive and oven (byproduct) Petroleum coke § „.,.. 217 ...... 104.7 6,304.7 6208.7 544.8 487.5 496.5 479.1 5022 453.0 489.0 497.4 545.9 514.6 2,778.8 586.1 2,684.7 598.3 225.9 51.0 216.7 50.0 233.8 54.5 221.6 53.0 227.5 52.1 230.0 532 211.50.6 231.9 54: 224.0 522 228.4 542 218.. 50.8 277: 525 2.283.7 6562 -15.8 6.6345 2,325.1 600.8 392 6,5125 213.1 54.9 44.1 585.9 183.5 37.3 30.8 520.7 172.8 3516.5 554.3 171.0 39.0 -9.3 533.3 155.: 43.8 392 548.1 180.' 385 -36.8 5605 163.6 28.0 -12^ 496.3 33.9 -15.6 523.3 177.8 43.3 18.; 505.2 215. 482 50.. 534.6 1992 46. 530*5 201.4 37/ 36: 554J 51.7 259.5 39.7 272.4 2.0 24. 2.0 23.3 32 26: 4.' 28.4 5.0 31.7 1.6 35.6 42 25.0 4.9 172 5/ 305 Z4 25.3 4.3 255 97.0 96.6 SURVEY OF CURRENT BUSINESS S-28 Unless otherwise stated in footnotes beiow, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-ed Annual 1989 October 1991 1990 Aug. | 1990 Sept. Oct. 1991 NOV. Dec. Jan. I Feb. Mar. | June Apr. | May Aug. July Sept. PETROLEUM, COAL, AND PRODUCTS-Continued PETROLEUM AND PRODUCTS-Continued [Wlions of barrels, unless otherwise specified] All oils, supply, demand, and stocks-Continued Domestic product demand, total # Gasoline . Kerosene Distillate fuel oil Residual fuel oil Jet fuel... Lubricants Asphalt... Liquefied petroleum gases Stocks, end of period, total Crude petroleum Strategic petroleum reserve Unfinished oils, natural gasoline, etc Refined products Refined petroleum products Gasoline (incl. av&Don) Producton .. . Stocks, end of period Prices, regular grade {exd aviation) Producer Price Index. 1932=100 Retail, U.S. city average (BL$): Leaded. $per gal. Unleaded, $ per gal. Aviation gasoline: Stocks, end of period Stocks end of period .. ....... Producer Price Index (light distillate), 1982=100 Distillate ftiol UloUitolu IU6I nil* uti. Stocks end of period Producer Price Index (middle distillate), 'i982=ioo R*«;irf[!al fiipl nil* ntroiuucU luci oil. Production .... Stocks end of period Producer Price Index, 1982=100 ............. _ Lit ftrolJtn lUBf. Production Stocks, end of period Lubricants: Production ......... .. .......... Stocks, end of period lenhalf A5pnai[. Production Stocks, end of period Liquefied petroleum gases: rfOGUCuOnt tOISi •««•••»••••»««•<•*•••»•»«••».••»«• At gas processing plants (LP.G.) ... . At refineries (LR.G.) „. . Stocks (at plants and refineries) 502.9 224.8 .8 .5 1,574.5 912.8 581.6 153.3 508.4 1,558.9 905.3 568.5 153.6 500.0 1,577.6 9072 568.5 157.5 512.9 1,628.0 927.0 568.5 163.9 537.0 1,633.6 916.1 585.7 1492 531.7 568.5 161.0 556.5 20.3 .. 48.0 .. 1,633.9 ., 911.0 568.5 ., 159.2 5637 206.1 189.1 184.6 182.7 206.4 174.4 202.8 171.9 219.8 173.7 221.4 178.5 226.7 173.5 500.9 217.8 .7 92.8 28.9 47.3 4.3 12.6 51.0 511.3 216.9 523.3 206.4 2.6 3.1 87.3 104.0 35.1 48.0 3.7 6.8 4.8 5.3 54.6 66.3 1,674.4 935.7 589.4 152.4 586.3 1,653.9 924.7 586.0 157.6 571.6 1,620.6 908.4 1,588.7 589.6 163.1 602.9 585.7 145.4 566.8 219.0 189.6 213.9 181.9 208.9 178.7 214.0 182.4 6,200.8 2,649.6 15.5 1,102.5 448.5 555.6 59.7 176.3 568.0 559.6 242.6 12 99.7 38.4 43.1 6.0 24.9 45.4 495.4 2082 .9 85.9 302 1,581.4 921.1 579.9 152.0 508.3 1.620.6 908.4 585.7 145.4 566.8 1,698.5 959.1 589.6 158.9 580.5 1,698.2 932.2 2,550.7 179.1 2,548.4 182.4 2282 1742 46.0 5.3 21.6 47.0 402 47.8 905.8 455.9 191.1 1.6 84.0 34.7 4i6 3.3 84.8 31.3 40.7 4.8 15.0 422 83.5 38.0 44.0 4.6 18.9 43.3 5242 235.1 .4 82.1 34.6 46.8 5.1 67.1 80.3 84.6 95.0 100.3 99.7 90.5 802 71.5 61.6 63.4 70.3 69.4 65.8 69.2 71.4 997 1.022 1 149 1.164 1.198 1.190 1297 1294 1354 1.378 1351 1.377 1 335 1.354 1246 1247 1137 1.143 1 047 1*082 1062 1.104 (3) 1.156 1.160 1.127 1.140 1.143 92 2.1 85 1.7 1.1 1.7 8 1.8 6 1.7 .7 1.8 .5 1.7 .6 1.9 5.4 1.9 5 1.8 5 1.7 .6 1.7 .8 1.7 1.0 2.1 269 1 0 55 652 1.6 62 87.8 1.5 64 108.7 1.6 64 107.4 1.6 56 24 55 1.7 50 57.8 163 5*6 75.4 94.2 822 75.9 j 42 66.4 1.1 43 59.5 .8 42 60.7 .8 47 61.3 .8 5.1 58.9 62.1 66.ti 1058.0 "111.7 105.7 584 1,067.5 101.5 132.2 73*5 97.1 9.1 129 8 72*3 89.0 6.8 1360 87*3 90.8 904 7.4 884 80 3 887 847 90.6 3.9 57 1322 1121 89.3 823 6'4 98 3 61.6 7.7 1363 104.8 87.4 7.1 132 4 98.9 1022 60.0 107.0 59.6 882 6.3 1135 575 928 47 124 3 58'1 62.1 '65*4 348.1 229.6 43.8 47.6 3466 183.8 486 572 29.3 17.8 49 0 45.8 27.3 94 494 61*0 24,8 11.9 493 74.5 25.4 11.6 501 82.7 31.7 15.0 43*6 29.4 74*1 31.0 13.1 47*6 68*0 10.7 44.6 62*8 30.9 10.3 42 9 472 27.5 12.5 447 44*3 287 13.0 453 412 28.0 15.0 435 426 27.0 13.0 43 4 42*8 44.0 512.1 40.9 5432 52.1 44.1 48.4 46.5 49.8 50.5 51.1 48.2 50.5 48.7 52.1 467 50.5 43.3 48.0 40.3 44.6 38.6 43.7 42.3 46.9 442 48.6 442 471 61 4 13.8 612 12.4 54 11.5 54 112 50 10.3 5.5 50 52 45 11 ".4 12.4 12.5 13.3 50 137 46 13.4 49 132 5.0 132 4.8 12.6 ".."!'."' 1549 20.6 1640 18.7 186 20.3 179 18.0 155 15.5 121 92 187 7.7 2i!5 9.4 11.3 30.9 121 32.1 147 32.3 15 9 30'.4 170 28*1 653.5 451.3 2022 802 638.4 456.2 182 2 97.9 56.6 39.0 17 6 124.7 53.7 38.5 152 125.8 55.0 41.7 132 118.3 51.9 41.4 52.5 40.3 12.1 97*9 532 412 12 0 76.3 512 58.5 42.0 16 5 72.6 56.4 40.0 164 83.1 597 127 68.8 96.3 56.8 38.7 18.1 106.0 57.4 39.5 17.9 111.6 5I1 „ 483.1 214.8 1.1 86.1 33.8 40.5 4.5 11.3 4Z7 499.0 232.5 5.1 68.8 499.1 219.1 1.4 92.0 37.4 44.4 42 7.4 482 525.0 224.7 .6 91.8 31.8 49.1 5.4 18.9 55.5 6.323.7 2.684.1 30.8 1.1525 500.1 543.6 58.1 165.2 608.9 5.9 15.6 106 109.4 5.9 101 3 74.3 26.4 38.5 41.0 187 ................ ""*" PULP, PAPER, AND PAPER PRODUCTS PULPWOOD [Thousands of cords (128 cu. ft)} Receipts Consumption ..... Inventories, end of period . . . . '99279 '98,414 5.462 '99.304 ''99,109 5,961 8.452 8.333 5239 8,271 8,243 5,651 8.712 8,517 5.751 8,180 8.120 6,375 7.920 8,012 5,961 8,779 8,801 5,732 8,171 8,115 5,554 8.161 8,161 5.670 8,097 8271 5,082 7,934 8,108 4,936 8,120 7,992 4,880 8,385 8,239 4,948 ' 19.490 1,082 '21,040 909 1,844 1,052 1,785 976 1,822 1,024 1,778 981 1,717 909 1,815 927 1,669 917 1,816 907 1,754 960 1,763 1,025 '1.799 '1,001 1,801 1,024 '61,998 1,425 50,181 6,029 4,363 '63,068 1,293 51,192 6363 4,219 5,366 125 4,374 541 327 5200 126 4,190 536 349 5,410 91 4,395 569 355 5,123 71 4,163 543 347 5,428 123 4,392 554 359 5,579 115 4,530 563 371 5,033 104 4,098 503 329 5,319 124 4,310 547 338 5285 115 4270 555 346 5,188 92 4232 528 335 5,197 124 4.222 520 331 5,631 130 4,609 545 347 193 342 519 226 476 392 218 527 418 228 461 423 210 484 422 201 505 358 226 476 392 201 521 419 216 554 409 216 483 406 198 521 394 210 532 389 214 515 351 218 596 353 WASTE PAPER [Thousands of short tons) Inventories, end of period „ WOODPULP [Thousands of short tons} Production: Total Dissolving pulp Paper grades chemical pu'p Groundwood and thermo-mechanjcal . Semi-chemical Inventories, end of period: Producers' own use Producers' market ..„ Consumers' purchased .................. [Thousands of metric tons} Exports, all grades, total Dissolving and special alpha All other -..,*7"Z"ZZZ'Z"'Z' Imports, all grades, total Dissolving and special alpha All other See footnotes ai end of tables. '5,653 759 '4896 '4.673 162 '4,513 zzz: 43.9 *.... ".'..". SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1989 1961-88 | S-29 1991 1990 Annual 1990 Aug. Sept. Oct. Nov. Dec. Jan. | Feb. Mar. Apr. m JU n. July | Aug. | Sept PULP, PAPER, AND PAPER PRODUCTS-Continued PAPER AND PAPER PRODUCTS [Thousands of short tons, unless otherwise specified} Paper and board: Production (API): Total . Paper "„ '....ZZ Paperboard Producer Price Indexes: Paperboard. 1982*100 Building paper and board. 1982=100 Selected types of paper (API): Groundwood paper: Orders, new Orders, unfilled, end of period Coated papers: Orders, new Orders, unfilled, end of period Shipments . Uncoated free sheet: Orders, new Shipments _ '76,785 38.266 38,519 '78.782 39,359 39,423 6,744 3,439 3,305 6.507 3.251 3^57 3.484 3.344 6,528 3,294 3,234 6,520 3,181 3,339 6,818 3,338 3,480 6,135 3,009 3.126 6,569 3,243 3,326 6.338 3,172 3,167 '6,486 '3206 3280 '6,465 '3.179 3285 '6,757 '3,333 '3,419 6.961 3.439 3.522 140.1 115.6 135.9 112.2 133.4 110.3 132.9 109.8 134.3 109.4 1342 109.1 132.8 108.9 132.6 109.3 132.0 109.8 129.6 111.3 128.4 112.7 127.0 '1135 126.7 113.0 127.4 113.9 127.9 1122 '1.741 193 '1,743 '202 '1,806 164 197 147 173 226 137 163 222 168 136 213 151 161 215 147 171 234 145 126 229 133 154 239 148 130 238 138 146 249 140 176 274 145 148 280 159 183 293 152 '7,171 706 7^5 '7,430 '732 7.536 733 678 607 693 636 671 693 531 591 564 619 551 634 517 522 564 600 528 588 582 565 558 601 604 572 623 598 596 646 638 640 681 635 656 '11,097 '11.081 '11,479 '11,503 1,019 1,011 862 930 916 784 852 856 901 924 915 1,002 957 '1,013 922 '1,131 1,044 1,078 1.057 '2,681 '2,377 198 208 196 173 207 185 195 186 188 '5.802 487 507 477 484 186 459 203 '5,636 505 477 472 474 440 484 9.640 9,607 321 698 362 711 710 363 715 740 315 836 765 386 763 686 462 790 755 493 743 736 506 733 710 529 739 719 550 761 9,074 315 731 731 61. 635 511 506 44 1,045 810 512 511 45 1,030 780 519 517 46 1.011 802 523 527 42 922 853 473 4$5 50 854 919 523 511 519 502 79 929 907 52 52C 80 954 905 508 497 '879 '914 526 512 12' '944 '904 496 495 122 958 873 119/ 119.0 118. 25,739 27,968 2829; Unbleached kraft papers: Shipments Tissue paper, production ..... 1.009 132.0 111.9 [Thousands of metric tons, unless otherwise specified] Newsprint: Canada:t Production ... Shipments from mills Inventory, end of period United States: Production ... Shipments from mills Inventory, end of period Estimated consumption, all users 0 Publishers" stocks, end of period # Imports Producer Price Index, standard newsprint, 1982-100 758 750 399 5,523 5.515 56 12,241 749 *7,678 122. 5,997 6,007 46 12,126 802 519 518 50 996 912 119.5 122.2 122.3 122.5 122.3 122.; 126.8 1272 127.1 313,398 318.102 28,313 '25,595 30,526 24,955 21,412 27.440 24,137 24,495 498 509 39 i,or 850 956 923 ,.....„.„ '121. Paper products: Shipping containers, corrugated and solid fiber shipments, mil. SO. ft. SUrf. 3T83 , 28,033 26,96: 27.169 RUBBER AND RUBBER PRODUCTS RUBBER [Thousands of metric tons, unless otherwise specified} Natural rubber: § Consumption ... Stocks, end of period Imports, incl. latex and guayule U.S. Import Price Index 1935*100 Synthetic rubber: J Production Consumption ... Stocks, end of penod Exports (Bureau of Census) 69.78 94.34 : : 75.70 102.9 839.03 94.34 860.34 104.1 74.11 87.18 60.96 68.76 90.35 82.97 105.4 59.78 84.71 55.67 75.55 89.63 81.69 2261.37 2,050.97 404.03 2 579.08 2,114.53 1,820.78 403.66 180.94 149.54 420.92 180.42 155.63 419.56 190.30 17529 404.95 167.35 147.04 393.90 153.14 119.06 403.66 '212.870 261.659 59,347 186,328 15,985 '210,663 260,424 54,192 188,839 17.393 42,649 18,555 24.185 4,696 17,785 1,704 17.612 22,595 4,687 16,443 1.465 19,965 24,457 5.433 17,306 1,727 13,687 16,946 2,829 12.913 1205 17,713 18,369 3,738 13,050 1,578 17,375 17.674 3,393 12,731 1,550 16,208 19,798 3,713 14,595 1,491 17,017 21237 4.351 15,377 1,511 17,360 22,231 4,691 15.975 1.566 43,492 42,047 41,553 16,077 20203 3,872 14,821 1,509 41,582 42,649 46,333 50,051 51,096 51,151 50,725 2 866.87 91.98 887.62 1103 2 ... :: '102.1 103.5 TIRES AND TUBES [Thousands} Pneumatic casings: Production Shipments, total Original eauioment Replacement equiDment Exports Stocks end of period Inner tubes: Exports (Bureau of Census) 3 - See toomotes at end of taUe& 39,308 19,118 *1,813 16.419 24,384 4,279 18.508 1.596 47,204 99.8 SURVEY OF CURRENT BUSINESS S-30 1989 1961-68 October 1991 1991 1990 Annual Unless otherwise stated h footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1990 Aug. | Sept. Oct. | NOV. | Dec. Jan. | Feb. Mar. Apr. 23,949 27,239 35,379 | May June | July | Aug. | Sept. STONE, CLAY, AND GLASS PRODUCTS PORTLAND CEMENT Shipments, finished cement, thous. bbl. ' 474,344 .. '467,211 48,159 42,567 21,273 39,876 40.037 46,272 37,888 25,425 609.9 538.3 416.0 1,118.7 1,444.5 16.0 15.3 13.0 #42* " ' 49.7 36.3 36.1 '7105.6 42.577 CLAY CONSTRUCTION PRODUCTS Shipments: Brick, unglazed (common and face), mil. standard brick Structural tie, except facing, thous. sh. tons „ Sewer pipe and fittings, vitrified, thous. sh. tons Poor and wall tie and accessories, glazed and ungtazed, mil. sq. ft 545.3 Producer Price Index, trek and structural clay tile, 12M4M100 . 477.6 41.4 37.1 42.6 115.1 115.4 115.3 115.4 7 107.5 115.8 '116.3 115.7 115.9 GLASS AND GLASS PRODUCTS [Thousand gross, unless otherwise specified} Flat glass, mfrs.' shipments, thous. $ . 347,656 1,543242 1.471,447 287,511 285,586 289,704 284,986 26,141 26,910 25.462 22,827 25,937 24,125 21,882 21,451 18,254 19,668 22,465 20,974 22,420 19,828 24,351 22,611 24,586 24,736 25,569 26,436 24,724 -25.701 25,48$ 25,824 22,010 63,813 88,556 26,059 23.008 61,999 88,551 26297 2.249 6.048 8,024 2,301 1,796 4,931 7,197 1.902 1.866 5,077 7,234 2,129 1.388 4,315 6,962 2,009 1,215 3.998 6,159 2,214 1,429 4,219 6,849 1.735 1,707 3 933 6i218 1,670 2.082 4,802 6,930 2,078 2.082 5.527 6,950 2,373 2,379 6,073 7,633 2,393 2J268 5.876 7,697 '2,241 2,300 5,849 8,133 2,130 67,973 70.767 6,959 5,989 6,862 5,633 5,030 5,983 5,532 5,833 6,671 6,616 6,005 6,183 13,826 1,318 42,053 13,190 1,174 40,449 1,079 70 41,078 940 72 41,327 876 81 42,628 1,045 99 42,860 977 75 40,449 70 44,646 782 104 46,088 1,013 120 45,733 1,217 125 44,233 1,458 156 '43,293 191 42,979 Glass containers: Production Shipments, total Narrow-neck containers: Food ........ _ .. *. Beverage Beer Liquor and wine Wide-mouth containers! Food and dairy products Narrow-neck and wide-mouth containers Medicinal and toilet Chemical, household, and industrial Stocks, end of period 380,773 342,085 83 42,417 GYPSUM AND PRODUCTS [Thousands of short tons] Production: Crude gypsum (exc. byproduct) . '15.500 '17,500 Imports, crude gypsum . Sales of gypsum products! '5.170 Calcined: Building plasters,total(ind Keertfs "cement)" [Millions of square feet] Bo3Tu products toter •• *+ «• *• Lath " S „„ Veneer base „ _ Gypsum sheathing Regular gypsum board Type X gypsum board .. Predecorated waliboard . *.* mobile home board „ „ , Water/moisture resistant board '20,870 18 475 266 12,523 6,071 113 717 TEXTILE PRODUCTS II! „ .. .. Backlog of finishing orders „.„ Manmade fiber and silk fabrics •• • Ii l i i Inventories held at end of period Cotton Manmadefiberand silk fabrics ,„„„, Ill FABRIC [MiSions of linear yards} Woven fabric,finishingplants: Production (finished fabric) „ Cotton „ Manmade fiber and silk fabrics COTTON AND MANUFACTURES [Thousands of running bales, unless otherwise specified} Cotton (excluding timers): Production: Gainings 0 ................ ...„..,.,„........,....„...„,•...„.. Crop estimate""ttous. miweight bales 5 Z... Zl Consumption Stocks in tha United States, total, end of period iZ On farms and in transit ...-. Public storage and compresses Consuming establishments S&6 footnotes At fefid w obtas. Z .... 11,884 12,196 *7.444 12,803 12,803 1,457 10,762 584 15,064 15,499 583 8,383 11,978 11.978 1.522 9.875 581 680 15.974 15,974 13,740 1,615 619 '2,616 J 835 14,514 14^14 11332 2,451 531 7,959 12,436 14,519 671 13,855 13,855 7J210 6.126 519 610 13.173 13,173 3,729 8,930 514 '601 11578 11,978 1,522 9.875 581 137 7 2,068 ? 6,929 7 6.929 '585 *5,681 7 663 2.223 3,200 3,200 0 2,493 707 699 '."*"-" J 2,478 17,645 SURVEY OF CURRENT BUSINESS October 1991 Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS, 1961-68 1989 | S-31 1990 Annual 1990 Aug. | Sept 1991 Nov. Oct. Dec. Jan. | Feb. Mar. | A|x. July 1*. | May TEXTILE PRODUCTS-Continued Aug. Sept COTTON AND HANUFACTURES-Contlnued Cotton (excluding tinters)—Continued Exports thous tunning bales • ..... Imports, thous. net might bales Prics(farm), American upland, cents per b. 0 Price, Strict Low Middling, Grade 41, staple 34 (1 •/«"). average 10 markets, cents per Ib. . Spindle activity (cotton system spindles): Active spindles, last working day, total, millions Consuming 100 percent cotton, millions Spindle hours operated, all fibers, total, billions Average per working day, billions Consuming 100 percent cotton, billions Cotton doth i Cotton broadwoven goods over 12" in width: Production (qtrly) mil sq, yd . Orders, unfilled, end of period, compared with average weekly production, no. weeks'prod. .... Inventories, end of period, compared with avg. weekly J 6 704 J $3.e 66.4 64.7 65.1 67.5 68.0 65.9 642 67.9 68.5 70.8 68.9 672 65.7 '66.9 66.8 *69.8 '74.8 76.3 71.0 70.5 69.5 69.9 70.5 77.7 77.9 79.9 83.9 79.0 71.3 66.4 62.4 10.7 4.3 80.8 294 27.8 9.7 3.8 65.8 .254 25.8 10.0 3.9 5.3 264 2.0 10.1 4.0 «6.3 ".255 *2.5 9.8 3.8 52 260 2.1 9.8 3.9 4.7 .240 1.8 9.7 3.8 *4.9 M96 "1.9 4.589 4,464 110.9 113.8 115.0 115.1 115.1 217.5 362.8 206.2 299.1 53.6 742 53.5 76.9 48.0 67.4 55.4 68.7 4,225.4 4,290.3 4,193.7 3,990.8 1.035.4 962.5 1.043.4 9832 994.0 911.0 1,066.3 962.7 9.9 22.4 9.4 17.3 9.4 17.3 10.0 26.0 9.4 24.9 3645 340.8 304.2 347.0 3042 347.0 3442 371.1 321.1 3222 — 113.8 114.7 Ratio of stocks to unfilled orders (at cotton mills), end of period ... .......... Exports raw cotton equivalent, thous net weight bales § Imports, raw cotton equivalent, thous. net might bales § Producer Price Index, gray cotton broadwovens, 1962*100 .... 1.048 1.087 115.1 112.3 112.5 116.4 116.1 '9.8 7 3.8 14.9 '.233 7 5.9 9.5 3.8 15.5 .239 6.3 '1,073 1,142 7 113.3 113.6 114.1 1145 ' 114.9 115.0 MANMAOE FIBERS AND MANUFACTURES (Millions of pounds] Fiber production, qtrly: Acetate filament yarn ... ...... Noncellulosic, except textile glass: Yarn and monofitaments Staple, incl. tow ...„ Textile glass fiber Fiber stocks, producers', end of period: Acetate filament yarn .... Rayon staple, including tow . . Noncellulosic fiber, except textile glass Yam and monofilaments . Staple, incl. tow Textile glass fiber [Millions of square yards, unless otherwise specified] Manmade fiber and silk broadwoven fabrics: Production (qtrly) total Filament yarn (100%) fabrics Chiefly rayon and/or acetate fabrics Chiefly nyioo fabrics Spun yam (100%) fabrics Rayon and/or acetate fabrics, blends , Polyester blends with cotton Acetate filament and spun yarn fabrics ...; Producer Price Index, gray synthetic broadwovens, 1982*100 (Millions of pounds] Manmade fiber textile trade: Exports, manmade fiber equivalent Yam, tops, thread, doth Cloth, woven Manufactured prods., apparel, furnishings Imports, manmade fiber equivalent Yarn. tops, thread, doth Cloth, woven Manufactured products, apparel, furnishings Apparel total « Toiit apparel'"! '"'"". 8.3 92 ::::::::::: 348.0 362.8 '. "L."""... Z'ZZZ — 114.0 115.7 113.0 14.1 106.9 29.9 77.0 115.8 116.1 6.9 1.4 55 7.5 1.3 62 30.5 2.1 42 .6 3.6 ^35 2.35 225 3.55 3.43 3.32 115.7 114.7 1152 115.3 120.6 12.1 71.7 21.4 50.3 5.5 1.3 4.2 26.9 3.1 5.0 1.5 3.5 3.70 2.56 2.35 4.31 3.70 3.52 176.3 140.7 32.6 31.4 38. 1.3572 1.359.0 350.4 3172 2775 16,895 181.967 8,372 97,689 300.907 37.180 '18,120 "172.317 '7.728 '92,778 "298,988 "38.761 '5.312 '41,416 ' 1,980 '23.413 '78,421 '8510 '3,770 '35,501 '1.992 '22.078 '67232 '8.744 422 49.396 3,132 22,32 68.39 9,85 115.6 114.4 ::::::::: """"!-. 114.1 114.3 117.0 1*1*6.4 WOOL AND MANUFACTURES [Millions of pounds, unless otherwise specified] Wool consumption, m (clean basis): Apparel dass .... Carpet class ................ Wool imports, dean yield t Unimproved and other grades not finer than 46's 48's and finer * „„ « Wool prices, raw, shorn, dean basis: Domestic-Graded territory, 64's, staple 2V«" and up, delivered to U.S. mills, Sperb. Australian. 64's. Type 63. duty-paid, price at Australian Wool Corp., Charleston. SC, $ per b.................. Wool broadwoven goods, exc. felts: Production (qtrly.). nA sq, yd, — FLOOR COVERINGS 8.7 6.9 12 5.7 5.4 15 3.9 5.5 1.3 4.3 7.3 1.7 55 8. 15 6. 92 15 7. 7. 1. 5. 220 £17 2.10 1.63 1.67 2.03 2.30 2.30 1.6 156 3.32 334 3.35 2.09 22 2.7 2.86 2.48 Z29 10.7 • 1.9 48. Carpet rugs, carpeting (woven, tufted, other), shipments, quarterly, ml sq. yd APPAREL (Thousands, unless otherwise indicated] Women's, misses1, juniors' apparel cuttings, qtrly: Coats ... «Dresses ....„...•................«....««...«.«."...— Suits fi/ri oant suits iumosuits) ........ ......... Skirts „ „. Slacks, jeans, dungarees, and jean-cut casual slacks Blouses' thoti doz. . S « footnotes •! tnd of tablet 38.7 3. 33.3 3.1 SURVEY OF CURRENT BUSINESS S-32 Annual Unless otherwise stated in footnotes below, data through 1988 and methodological notes are as shown in BUSINESS STATISTICS. 1961-88 1989 | October 1991 1990 1990 Aug. Sept. | OC 1991 Nov. | Dec. Jan. | Feb. Mar. | Apr. May 28,351 27,099 | Jt no | July | Aug. Sept. TEXTILE PRODUCTS-Continued APPAREL-Contlnued [Thousands, unless otherwise indicated] Men's apparel cuttings, qtrty. Suits Coats (separate), dress and sport Trousers, slacks, jeans, pants, etc . Shins, dress and sport, thous. doi Hosie7, shipments, thous. doz. pts . 13.B96 18,012 470.820 113,085 353,692 . "11,302 '13,945 '458.476 '103.239 328,622 '2,697 '3,594 '118,833 '24.686 25,003 26"228 30,537 '2.567 '3,194 '111,409 '20.966 27,741 24,586 24,863 25,170 2,721 3.941 105,651 23.155 25,623 28,551 28,153 27,696 TRANSPORTATION EQUIPMENT AEROSPACE VEHICLES (Millions of dollars} Orders, new (net) total U S Government * 173,63 3 80,63 '168,38 Sales (net), receipts, or billings, total U.S. Government , ........... J Backlog of orders, end of period # US Government ....*.,... Aircraft (complete) and parts Engines (aircraft) and parte Missiles, space vehicle systems, engines, propulsion units, and parts Other related operations (conversions, modifications), products, services , „ J 122,148 72,1B4 J Aircraft (complete): Shipments Exports, commercial 252,40 3 107.79 J 131,996 J 27.154 3 147,380 J 56.788 142,685 3 141,654 3 77,516 264.204 3 92,148 3 145,833 J 28233 J 33.77 J 32,600 >22,O9 J 19,819 17467. "13,71 ....... 3 3 18,444 2,165.8 1,399 6,807 6,181 6.050 5.502 530 488 9,903 7.078 2.825 9,499 6,898 2,601 807 572 235 9.4 6.9 2.5 1.669 1.682 1,407 1,259 2.4 4 1,311 1212 1,693 1291 1,097 1,862 2,i"64 542 507 625 585 438 402 369 332 435 391 411 373 436 384 460 417 785 585 200 10.1 7.6 2.5 805 598 207 9.3 6.9 2.4 679 486 193 8.6 6.2 ^4 669 476 193 8.9 6.6 2.3 570 421 149 7.6 5.7 1.9 636 479 157 8.3 6.1 22 749 545 204 8.7 6.2 2.5 1,337 1,425 1,340 1.404 1,483 1,430 1,510 1,397 1,407 1259 22 25 2.7 2.3 1,467 1221 2.6 1,431 1,143 2.5 23 298.0 635 '770 '314 293.0 93.1 354.4 945 625 325 399.6 127.6 769 284 375.1 110.6 '9,853 '3.481 "3,944.6 '1,220.2 9,160 3,486 683 259 683 271 325.1 81.1 599 224 4,062 3.752 3,719 3,448 319 302 313 297 355 336 253 235 175 155 4,941 5 4,106.4 504.2 331.1 4,649.9 3,947.5 404.0 298.4 391.9 326.9 39.5 25.4 383.8 326.9 31 5 25.4 3612 310.0 til 23.5 392.7 339.3 28.4 24.9 364.8 307.7 315 25.6 370.9 313.4 33.7 23.8 322.1 275.1 27.0 20.0 357.0 304.3 30.3 22.4 1,1345 1,180.1 '21128 "1,022.17 t,074.3 1,116.9 1,073.0 1,168.$ 1,095.3 1,192.0 1,170.8 1.203.0 1.166.4 1,166.5 i"32 0 ....... 1,668 2,465 518 465 790 581 209 8.4 6.1 2.3 485 434 360 324 707 510 197 7.9 5.5 2.4 791 593 198 9.0 6.7 2.3 794 585 209 9.1 6.8 2.3 417 385 711 503 208 8.3 6.1 22 1,360 1,065 1,371 1,066 1.357 1.032 1.304 964 1,130 '918 1,119 '984 1.156 973 2.1 2.3 2.0 1.7 1.6 1.9 1.8 294.6 67.7 328.7 100.1 2075 77.9 669 264 283.3 117.4 744 286 296.7 119.6 590 220 297.6 108.8 675 275 792 304 755 291 675 297 214 194 202 177 238 208 300 263 337 302 323 290 230 209 277 256 318.4 267.1 28.1 23.2 334.2 279.5 31.4 23.3 270.2 229.1 22.5 18.6 300.0 255.4 24.0 20.6 292.7 250.7 23.6 18.4 3215 271.9 282 21.3 3552 305.8 27.3 22.1 335.0 287.2 265 21.3 3535 30*9 26.6 22.1 332.6 288.5 24.5 19.6 384.8 335.9 282 20.7 341.0 295.5 26.4 19.1 385.9 338.9 26.5 205 3575 309.4 28.2 19.8 391.4 338.1 30.8 22.6 363.1 313.5 27.9 21.7 '353.5 298.3 35.9 '19.3 '353.1 305.6 27.8 '19.7 375.8 330.1 26.3 19.4 402.6 355.1 27.3 202 1,074.3 1,116.9 1,071.1 1,0497 1,022.5 972.6 955.1 9025 953.5 9052 960.1 907.6 965.1 912.4 8525 916.7 857.4 954.4 875.8 953.8 373 MOTOR VEHICLES (NEW) (Thousands, unless otherwisa specified] Passenger cars: Factory sales (from U.S. plants): Total Domestic Retail sales, total, not seas adj Domestics § Imports § Total, seas. adj. at annual rate, millions Domestics, millions § t Imports, millions § . Retail ioventories, domestics, end of period: § Not seasonally adjusted Seasonally adjusted Inventory-retail sales rafo, domestics § 2.8 ft •687 498 •189 •8.6 6.3 *Z5 4 Exports (Bureau of Census) total To Canada Imports (ITC), complete units From Canada, total „ 769.75 56923 '4.042.7 '1,151.1 _ Registrations 0, total new vehicles Imports, including domestically sponsored *"" Trucks and buses: Factory sales (from U.S. plants): Domestic ..... .1... Retail sales: Total, not seasonally adjusted * 0-10.000 lbs. GVW. domestics „ 0-10.000 lbs GVW imports * 10.001 lbs. GVW and over t Total, seasonally adjusted * 0-10000 Fbs GVW domestics 0-10000 lbs GVW* imports" 10 001 lbs GVW and over t ! „ « „ Retail inventories, domestics, end of period: Not seasonally adjusted Seasonally adjusted @ , „..,.......„ Exports (BuCensus) .„...,.. „.,„.. Imports (BuCensus), including separata chassis and bodies .'. Registrations 0, new vehicles, excluding buses not produced on truck chassis „...,.........„.„ „. ............... Truck trailers and chassis, complete (excludes detachables), shipments, number _ Van type, number „ „ Trailer bodies (detachable), sold separately, number ..„ „. Trailer chassis (detachable), sold separately, number „ '5,100 4,805 '416 410 381 343 355 307 290 347 355 379 413 394 181.478 130.163 142,921 102.449 (s) 15,496 13,128 9.490 11,737 8,481 12277 8.830 9,465 6,586 8.565 5531 8.715 5.763 8,422 5562 10,494 7,073 10,641 7,089 11,311 7,722 '10.979 '7,304 10,321 7,384 994 976 3,429 1284 744 ui'ii 827 1,211 1,638 1,904 '1,347 928 &» • * • " " RAlLflOAD EQUIPMENT (Number, unless otherwise specified] Freight cars (new), for domestic use; an railroads and private car lines (excludes rebuilt cars and cars for export): Equipment manufacturers New orders . Equipment manufacturers Unfilled orders, end of period Equipment manufacturers - „ „ _ ..._ Freight cars (revenue), class 1railroads(AAR): % Number owned, end of period, thousands .... Capacity (carrying), total, end of month, ml tons Seetomotesai end of uon. ................ 29.617 29.617 31.002 31,002 16,691 16,691 688 59.73 86.87 32,063 32,063 27.197 27,197 11,328 11,328 7,659 7,659 3,996 3,996 12214 12214 7,541 7,541 6,655 6,655 11.328 11,328 6,397 6.397 5.873 5,873 10,683 10,683 :::::::::: 6,003 6,003 5.126 5,126 9,806 9,606 : : : : : : : : : : : : : SURVEY OF CURRENT BUSINESS October 1991 S-33 FOOTNOTES FOR PAGES S-l THROUGH S-32 General Notes for all Pages: r p e c Revised, Preliminary, Estimated, Corrected. Page S-l f Revised series. See Tables 2.6-2.9 in the July 1990 SURVEY for revised estimates for 1987^89. X Includes inventory valuation and capital consumption adjustments. § Monthly estimates equal the centered three-month average of personal saving as a percentage of the centered three-month moving average of disposable personal income. 0 See note 4 *O"forp. S-2. Page S-2 1. Based on data not seasonally adjusted. 0 Effective April 1990 SURVEY, the industrial production index has been revised back to 1977 and has a new base year of 1987. A more detailed explanation of this revision is in the April 1990 Federal Reserve Bulletin. Historical data are available from the Industrial Output Section, Mail Stop 82, Division of Research and Statistics, Federal Reserve Board, Washington, DC 20551. # Includes data not shown separately. Page S-3 # Includes data for items not shown separately. t Effective with the April 1991 SURVEY, M3 data have been revised to benchmark the data to the 1987 Census of Manufactures and 1988 Annual Survey of Manufactures, and to convert the series to the 1987 SIC codes. Revisions related to benchmarking affect all categories back to 1982. Revisions resulting from the SIC conversion affect about half the categories back to 1958. The coverage for some of the series in the market category has been changed. Page S-4 , I . Based on data not seasonally adjusted. # Includes data for items not shown separately. X Includes textile mill products, leather and products, paper and allied products, and printing and publishing industries; unfilled orders for other nondurable goods industries are zero. O For these industries (food and kindred products, tobacco, apparel and other textile products, petroleum and coal, chemicals and allied products, and rubber and plastics products) sales are considered equal to new orders. t See note "f" for p. S-3. Address requests for data to: Business Statistics Branch Current Business Analysis Division (BE-53) Bureau of Economic Analysis U.S. Department of Commerce Washington, D.C. 20230 t Effective May 1990 SURVEY, data for seasonally adjusted building permits have been revised back to 1988 and are available upon request. # Series first shown in the July 1990 SURVEY. The fixed-weighted price index is a weighted average of the individual price index series used to deflate the Value of New Construction Put in Place (VIP) series. In calculating the index, the weights (the composition of current dollar VIP in 1987 by category of construction) are held constant. Consequently, the index reflects only changes in prices. The implicit price deflator is a derived ratio of total current to constant dollar VIP (multiplied by 100). It is the average of the individual price indexes used in the deflation of VIP, but the prices are weighted by the composition of VIP each period. As a result, the implicit price deflator reflects not only changes in prices, but also changes in the composition of VIP, and its use as a measure of price change is discouraged. Effective July 1991 SURVEY, data have been revised back to 1986. f t Effective May 1991 SURVEY, the Boeckh indexes have a new base year of 1987. I t Effective Sept. 1990 SURVEY, the construction cost index for the Federal Highway Administration has been revised back to 1986 and has a new base year of 1987=100. Page S-8 1. Advance estimate. 2. Beginning with Feb. 1989 data, associations in conservatorship are excluded. O Home mortgage rates (conventional first mortgages) are under money and interest rates on p. S-14. § Data include guaranteed direct loans sold. # Includes data for items not shown separately. @ Data are for closed mortgage loans of thrift institutions insured by the Savings Association Insurance Fund (SAIF)—FSLIC-insured institutions prior to Sept. 1989. t Effective April 1991 SURVEY, estimates of wholesale sales have been revised back to January 1988 and wholesale inventories have been revised back to January 1989. Revised data and a ' summary of changes appear in me report Revised Monthly Wholesale Trade, Sates and Inventories January 1984-December 1990, BW90-R, available from the Bureau of the Census, Washington, DC 20233. X Effective March 1991 SURVEY, retail trade data have been revised. Estimates of retail sales have been revised back to January 1988 and inventories have been revised back to January 1989. (In 1990 data were revised back to 1982.) Revised data and a summary of changes will appear in the report Revised Monthly Retail Sates and Inventories, January 1981-December 1990. BR90-R, available from the Bureau of the Census, Washington, DC 20233. Page S-5 Page S-9 1. Based on data not seasonally adjusted. @ Compiled by Dun & Bradstreet, Inc. # Includes data for items not shown separately. § Ratio of prices received to prices paid (parity index). X See note " J " for p. S-4. t In the Feb. and July issues of the SURVEY each year, data for the most recent six to eight years are subject to revise and are available upon request, f t See note " | " for P- S-3. 1. Advance estimate. # Includes data for items not shown separately. O Effective with the January 1991 SURVEY, the seasonally adjusted labor force series have been revised back to January 1986. The January 1991 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and revised data for the most recent 13 months or calendar quarters. Revised monthly data for the entire 1986-90 revision period appear in the February 1991 issue of Employment and Earnings. | The participation rate is the percent of the civilian noninstitutionai population in the civilian labor force. The employment-population ratio is civilian employment as a percent of the civilian noninstitutionai population, 16 years and over. @ Data include resident armed forces. X See note "X" for P- S-8. Page S-6 § For producer price indexes of individual commodities, see respective commodities in the Industry section beginning p. S-l9. AH indexes subject to revision four months after original publication. # Includes data for items not shown separately. X Effective with the Feb. 1991 SURVEY, data have been revised back to 1986 and are available upon request. PageS-7 1. Computed from cumulative valuation total. 2. Index as of Oct. 1, 1991: building, 412.3; construction, 455.4. 3. Beginning Dec. 1988, series has been discontinued by the Bureau of the Census. X Effective July 1991 SURVEY, data have been revised back to 1986. Effective July 1990 SURVEY, data were revised back to 1985. Revised data are available from the Construction Statistics Division at the Bureau of the Census, Washington, DC 20233. # Includes data for items not shown separately. § Data for Mar., May, Aug., and Nov. 1990, and Jan., May, Aug., and Oct. 1991 are for five weeks; other months four weeks. O Effective Feb. 1990 SURVEY, data for seasonally adjusted housing starts have been revised back to 1987. These revisions are available upon request. <2> Effective Feb. 1990 SURVEY, data for seasonally adjusted manufacturers' shipments of mobile homes have been revised back to 1987. Page S-10 ^ See note " O " for p. S-9. § Effective with the Sept. 1990 and June 1991 issues of the SURVEY, data have been revised, respectively back to April 1988 and April 1989, unadjusted, and back to Jan. 1985 and Jan. 1986, seasonally adjusted, to reflect new benchmarks and seasonal adjustment factors. In addition the Sept. 1990 revision included the conversion of the industry series to 1987 SIC codes. Industry series affected by revisions in the SIC have been revised back to the inception of the series, to the extent possible. In addition, all constant-dollar and indexed series were recomputed on a 1982 base. The Sept. 1990 and June 1991 issues of Employment and Earnings contain detailed descriptions of the effects of these revisions. All of the revised historical series will be published in a special supplement to Employment and Earnings. This supplement, when combined with the historical bulletin, Employment. Hours, and Earnings, United States, 1909-90 will comprise the full historical series on national data obtained from the establishment survey. Page S-ll § See note " § " for p. S-10. X This series is not seasonally adjusted because the seasonal component is small relative to the trend-cycle and/or irregular components and consequently cannot be separated with sufficient precision. S-34 0 Production and nonsupervisory workers. Page S-12 § See notc*'§"forp. S-10. 0 Production and nonsupervisory workers. X Earnings in 1982 dollars reflect changes in purchasing power since 1982 by dividing by Consumer Price Index. Effective Feb. 1990 and 1991 issues of the SURVEY, this series has been revised, respectively, back to 1985 and 1986 to reflect new seasonal factors for the CPI-W. Revised data are available upon request. §§ Effective with the June 1991 SURVEY, data have been revised back to 1989 and are available upon request. Wages as of Ocu 1, 1991: Common, $19.11; Skilled, $25.09. t Excludes farm, household, and Federal workers. @ Effective with the April 1990 SURVEY, the employment cost index is based on June 1989=100, rather than June 1981=100. Historical data for both June 1989 and June 1981 bases are available from the Bureau of Labor Statistics, Division of Employment Cost Trends, 441 G Street, N.W., Washington, DC 20212. XX These series were affected by an error in the Sept. 1990 SURVEY. The stub for "Transportation equipment" was omitted. Hourly earnings for 'Transportation equipment" were shown following the stub for "Electronic and other electrical equipment". Hourly earnings for "Electronic and other electrical equipment" were shown following the stub for "Industrial machinery and equipment". Hourly earnings for "Industrial machinery and equipment" were shown following the stub for "Machinery, except electrical", which was the former name for that industry (SIC 35). * Series first shown in the July 1991 SURVEY. Wages and salaries are defined as the hourly straight-time wage rate or, for workers not paid on an hourly basis, straight-time earnings divided by the corresponding hours. Straight-time wage and salary rates are.total earnings before payroll deductions, excluding premium or'supplemental pay for overtime and for work on weekends and holidays, shift differentials, and nonproduction bonuses such as lump-sum payments provided in lieu of wage increases. Production bonuses, incentive earnings, commission payments, and cost-of-living adjustments are included in straight-time wage and salary rates. Page S-13 1. Effective Feb. 28,1989, there was a break in the series due to the enlargement of the panel of reporting dealers to 17 and of reporting direct issuers to 36. End of month figures on the old basis are as follows: All issuers, 481,734; financial companies, 373,717; dealer placed, 172,330; directly placed, 201387; and nonfinancial companies, 108,017. 2. Average for Dec. # Includes data for items not shown separately. j § Excludes loans and federal funds transactions with domestic commercial banks and includes valuation reserves (individual loan items are shown gross; i.e., before deduction of valuation reserves). X Covers 50 States and the District of Columbia. Only regular benefits are included. @ Average weekly insured unemployment for 12-month period divided by average monthly covered employment (lagging 4 full quarters for annual figure and 2 full quarters for monthly figure). f Effective OCL 1989 SURVEY, loans by loan type are provided by the Federal Farm Credit Banks Funding Corporation. O Effective with the April 1990 SURVEY, the reserves of depository institutions have been revised back to 1984 and are available upon request Page S-14 1. Data are for fiscal years ending Sept. 30 and may include revisions not distributed to the months. 2. Weighted by number of loans. 3. Beginning Feb. 1988, data suspended by the Farm Credit Administration, which is revising the information it collects and amending the reports it distributes. § Effective Mar. 1990 SURVEY, data have been revised to reflect new benchmark and seasonal adjustments and are available from the Banking and Money Market Statistics Section of the Division of Monetary Affairs at the Federal Reserve Board, Washington, DC 20551. # Includes data for items not shown separately. O Excludes loans to commercial banks in the U.S. X Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent. XX Courtesy of Metals Week. @ Average effective rate t Effective May 1990 SURVEY, the consumer installment credit series have been revised back to 1980 to incorporate new information and updated seasonal adjustment factors. These revisions ire available upon request. * Series first shown in the June 1990 SURVEY. f t This series, first shown in the June 1990 SURVEY, represents the outstanding balances of loans that the loan originator has sold and are no longer carried on the loan originator's books. Fhe loans are pooled and securities are issued on the pools. Page S-15 1. Beginning Jan. 1989, the primary public offering statistics have been discontinued by the Securities and Exchange Commission. 2. Effective April 1991 SURVEY, the Security Markets series have been discontinued. 3. Money market deposit accounts are included with savings deposits. f Effective Feb. 1991 SURVEY, the money stock measures and components have been revised ind are available from the Banking Section of the Division of Research and Statistics at the i^deral Reserve Board, Washington, D.C. 20551. XX Includes ATS and NOW balances at all depository institutions, credit union share draft >alances, and demand deposits at thrift institutions. O Overnight (and continuing contract) RP*s are those issued by commercial banks to the jonbank public, and overnight Eurodollars are those issued by Caribbean branches of member >anks to U,£. nonbank customers. October 1991 SURVEY OF CURRENT BUSINESS @ Small time deposits are those issued in amounts of less than $100,000. Large time deposits are those issued in amounts of $100,000 or more and are net of the holdings of domestic banks, thrift institutions, the U.S. Government, money market mutual funds, and foreign banks and official institutions. # Includes data for items not shown separately. Page S-16 1. The railroad average was discontinued by Moody's on July 13, 1989. Therefore, the July average reflects only eight working days. 2. Effective Oct. 3, 1990, the German Democratic Republic (GDR; East Germany) ceased to exist as a sovereign state and became a pan of the Federal Republic of Germany. Accordingly, effective with the statistics for Oct. 1990. all merchandise imported from or exported to the former GDR will be included as trade with the Federal Republic of Germany. 3. Beginning Jan. 1991 data, Roadway Services, Inc. will be included in the Dow Jones Transportation Average replacing Pan Am Corp. Roadway Services is listed on the NASDAQ National Market System. Comparability with earlier averages is not affected by this change. @ See note "4" for p. S-19 regarding the new commodity classification systems introduced Jan. 1989. Data may not equal the sum of the geographic regions, or commodity groups and principal commodities, because the revisions to the totals are not reflected in the component items. § Number of issues represents number currently used; the change in number does not affect the continuity of the series. X For bonds due or callable in 10 years or more. # Includes data for items not shown separately. 0 The March through August 1991 issues of the SURVEY showed month-end yields for 1991 rather than monthly averages. t Effective with the Mar. 1990 SURVEY, seas. adj. exports and imports have been revised back to Jan. 1988, and are available upon request. Page S-17 1. Beginning with Jan. 1989 data, undocumented exports to Canada are now included, resulting in a break with Dec. 1988 data. 2. Beginning Jan. 1989, buses are excluded from "Motor vehicles and parts" and included in "Other manufactured goods," resulting in a break with Dec. 1988 data. 3. See note "2" for p. S-16. @ See note "@" for p. S-16. t See note " f for p. S-16. # Includes data not shown separately. 0 Data include undocumented exports to Canada, which are based on official Canadian import totals. # Series first shown in the October 1991 SURVEY. The deflators for the constant dollar series are primarily based upon the monthly price indexes published by the Bureau of Labor Statistics using techniques developed for the National Income and Product Accounts by the Bureau of Economic Analysis. Page S-18 1. Reported annual total; quarterly or monthly revisions are not available. 2. For month shown. 3. Beginning Aug. 1989, the export and import indexes have been discontinued by the Census Bureau. # Series first shown in the October 1991 SURVEY. Source: Bureau of Labor Statistics. # Includes data for items not shown separately. § Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service. X The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation. 0 Average daily rent per room occupied, not scheduled rates. ## Data represent entries to a national park for recreational use of the park, its services, conveniences, and/or facilities. t Before extraordinary and prior period items. @ Changes in these unit value indexes may reflect changes in quality or product mix as well as price changes. f t Effective with the Dec. 1989 SURVEY, data for 1981-88 have been revised and are available upon request. XX Effective with the Mar. 1990 SURVEY, data for 1985-S9 have been revised and are available upon request. Page S-19 1. Reported annual total; monthly or quarterly revisions are not available. 2. Less than 500 metric tons. 3. Figure suppressed because it did not meet Census publication standards. 4. Beginning with 1989 data, merchandise trade data are based upon two new commodity classification systems; the International Harmonized System and, Revision 3 of the Standard International Trade Classification and, as a result, data may not be directly comparable to 1988 and earlier years. 5. Data are partially estimated for this quarter and are not available. 6. Beginning in 1991, data arc available only on a quarterly basis. # Includes data for items not shown separately. § Data are reported on the basis of 100 percent content of the specified material unless otherwise indicated. X Effective with the Jan. 1990 SURVEY, revisions for 1987-88 are available upon request. S-35 SURVEY OF CURRENT BUSINESS October 1991 Page S-20 Page S-27 1. Reported annual total; monthly or quarterly revisions are not available. 2. Quarterly data are no longer available. 3. See note 4 for p. S-19. 4. Beginning in 1991, data are available only on a quarterly basis. § Data are not wholly comparable from year to year because of changes from one classification to another. @ Includes less than 500 electric generation customers not shown separately. X Effective with the Jan. 1990 SURVEY, revisions for 1987-88 are available upon request. ^ Effective with the Dec. 1989 SURVEY, revisions for 1987-88 arc available upon request. 1. Annual total includes revisions not distributed to the months. 2. See note 4 for p. S-19. 3. Beginning in 1990, quarterly data have been discontinued. Annual data will continue to be available. 4. Beginning with May 1991 data, monochrome production numbers are no longer included. # Includes data for items not shown separately. § Includes nonmarketabie catalyst coke. O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately. X% March, June, September and December arc five-week months. All others consist of four weeks. Page S-21 1. Previous year's crop. New crop is not reported until Sept. (crop yean Sept. 1-Aug. 31). 2. Crop estimate for the year. 3. Stocks as of June 1. 4. Stocks as of June 1 and represents previous year's crop; new crop not reported until June (beginning of new crop year). 5. Series has been discontinued. 6. Stock estimates are available once a year as June 1 stocks and shown here in the May column and (as previous year's crop) in the annual column. 7. Stocks as of Dec. 1. 8. See note 4 for p. S-19. § Excludes pearl barley. @ Quarterly data represent the 3-month periods Dec.-Feb., Mar.-May, June-Aug., and Sept.Nov. Annual data represent Dec.-Nov. t Coverage for 21 selected States, representing approximately 85 percent of U.S. production. PageS-22 1. See note 4 for p. S-19. § Cases of 30 dozen. # Series first shown in the Jan. 1991 SURVEY. Page S-23 1. Crop estimate for the year. 2. Reported annual total; revisions not distributed to the months. 3. Data suppressed because they did not meet Census publication standards. 4. See note 4 for p. S-19. 5. Data withheld to avoid disclosing figures for individual companies. 6. Beginning in 1991, data are available only on a quarterly basis. # Totals include data for items not shown separately. Page S-24 1. Reported annual total; monthly revisions are not available. 2. See note 4 for p. S-19. 3. Less than 500 tons. 4. Beginning in 1990, monthly data have been discontinued. Annual data will continue to be available. Page S-25 1. Reported annual total; monthly revisions are not available. 2. For month shown. 3. Effective with Jan. 1989, import data are for consumption; earlier periods of data are general imports. See also note 4 for p. S-19 regarding the introduction of new classification systems. 4. Beginning in 1990, monthly data have been discontinued. Annual data will continue to be available. @ Includes foreign ores. § Source: Metals Week. Page S-26 1. Reported annual total; monthly revisions are not available. 2. Less than 50 tons. 3. See note 3 for p . S-25. 4. Break in comparability beginning Jan. l t 1991, because of a change in the Metals Week pricing series for zinc. O Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap. % Source for monthly data: American Bureau of Metal Statistics. Source for annual data: Bureau of Mines. # Includes data not shown separately. t Effective April 1991 SURVEY, the materials handling index has been revised back to 1982 and now includes lift trucks. The index also includes new orders for automatic guided vehicles, automated storage and retrieval systems, below hook lifters, cranes, hoists, monorails, racks, shelving, casters and floor trucks, and conveyors. Revised data are available upon request @@ Price represents North American Mean. @ Effective with the SepL 1990 SURVEY, the new orders index numbers have been converted to a new base year of 1987=100. Data back to t 1988 are available upon request. Page S-28 1. Reported annual total; revisions not allocated to the months. 2. See note 4 for p. S-19. 3. Beginning May 1991, the leaded gasoline price is not statistically valid for publication. # Includes data for items not shown separately. Page S-29 1. Reported annual total; revisions not allocated to the months. 2. See note 4 for p. S-19. O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users. See also note **f" for this page. § Effective with the October 1990 SURVEY, data have been revised back to 1989 to reflect adjustments made by the Rubber Manufacturers Association's Rubber Statistical Committee. X Effective with the October 1990 SURVEY, synthetic data consisting of Butyl, polyisoprene, polychloroprene, silicone, and other elastomers have been revised in keeping with data provided by the Census Bureau's MA30A report beginning in 1990. Also see note " § " on this page. # Compiled by the American Newspaper Publishers Association. t Effective with the March 1990 SURVEY, Canadian newsprint statistics have been revised back to Jan. 1982 to exclude supercalendered and some soft-nip calendered paper that was originally classified as newsprint and is now classified as uncoated groundwood papers. This revision also affects estimated consumption. Revised data are available upon request. Page S-30 1. Reported annual total; revisions not allocated to the months. 2. Data are being withheld to avoid disclosing data from individual firms. 3. Data cover five weeks; other months, four weeks. 4. Beginning Jan. 1989, sates of industrial plasters are included with building plasters. 5. Oct. 1 estimate of the 1991 crop. 6. Total for crop year, Aug. 1-Jul. 31. 7. Beginning in 1991, data are available only on a quarterly basis. # Includes data for items not shown separately. O Cumulative ginnings to the end of month indicated. § Bales of 480 lbs. Page S-31 1. Less than 500 bales. 2. Annual total includes revisions not distributed to the months. 3. Average for crop year, Aug. 1-Jul. 31. 4. For five weeks; other months four weeks. 5. See note 4 for p. S-19. 6. Beginning in 1990, data are available only on a quarterly basis. 7. Beginning in 1991, data arc available only on a quarterly basts. O Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price reflects total quantity purchased and dollars paid for the entire month (revised price includes discounts and premiums). § Bales of 480 lbs. t The total may include some miscellaneous wool imports. • Series first shown in the July 1990 SURVEY. Page S-32 1. Annual total includes revisions not distributed to the months. 2. Production of new vehicles (thous. of units) for Sept. 1991: passenger cars, 481; trucks and buses, 309. 3. Data are reported on an annual basis only. 4. See note 4 for p. S-19. 5. Beginning Jan. 1989, shipments of trailer bodies are included with trailer chassis to avoid disclosure of data from individual firms. 6. Effective with the August 1990 SURVEY, data have been revised back to 1987 and are available upon request 7. Data withheld to avoid disclosing figures for individual companies. # Total includes backlog for nonrelated products and services and basic research. § Domestics comprise all cars assembled in the U.S. and cars assembled in Canada and imported to the U.S. under the provisions of the Automotive Products Trade Act of 1965. Imports comprise alt other cars. <> Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some States are not available, month-to-month comparisons are not strictly valid. * Series first shown in the August 1990 SURVEY. f Includes some imported trucks over 10,000 lbs. GVW. X Excludes railroad-owned private refrigerator cars and private line cars. @ Effective with the Mar. 1991 SURVEY, seasonally adjusted retail inventories for trucks and buses have been revised back to 1989, and are available upon request S-36 SURVEY OF CURRENT BUSINESS October 1991 Index to Current Business Statistics Sections General: Business indcators Commodity prices Construction and real estate Domestic trade Labor force, employment, and earnings finance Foreign trade ol the United States Transportation and communication 1-5 5,6 7, $ 8,9 9-13 13-16 16-18 18,19 Industry: Chemicals and allied products Electric power andgas Food and kindred products; tobacco Leather and products Lumber and products Metals and manufactures Petroleum, coal, and products Pulp, paper, and paper products Rubber and rubber products Stone, day, and glass products Textie products Transportation equipment 19,20 20 20-23 23 23,24 24-27 27,28 28,29 29 30 30-32 32 *.... Footnotes 32-35 Individual Series Advertise Aerospace vehicles.. Agrioitural loans . . . Air carrier operations. Air conditioners (room). Aircraftand parts Alcohol, denatured and ethyl Alcoholic beverages Aluminum Apparel Asphalt Automobiles, etc. Banking Barley Battery shipments BeefandveaJ Beverages Blast furnaces, steel mills Bonds, issued, prices, sales yields Brass and bronze Brick Building and construction materials Building costs Building permits Business incorporation (new), failures Business sales and Inventories Butter 8,12 32 13 18 27 4,5,32 19 8,20 25 2.4-$, 8-12.31.32 7B 2-4,6,8,9,14,15,17,32 13,14 21 27 22 8,17,20 3-6 15,16 26 30 2,4,5 7 7 5 2,3 21 31 Carpets 22 Carte and carves 30 Cement 9 Chain-store sales,firmswith 11 or more stores 21 Cheese C Chemicals 2-4,10-12,15,17,19,20 Cigarettes and cigars 23 Clayproducts 2-4.30 Clothing (see apparel) Coal 2,27 Cocoa 22 Coffee 22 Coke 27 Combustion, atmosphere, heating equipment 26 Communication 15,19 Construction: Contracts 7 Costs 7 Employment, unemployment, hours, earnings 10-12 Houshg starts 7 New construction put in place 7 Consumer credit 14 Consumer goods output, index 1,2 Consumer Price Index 5,6 Copper and copper products 25,26 Com . 21 Cost of living (see Consumer Rice Index) 5,6 Cotton, raw and manufactures 5,30,31 Credit commercial bank, consumer 14 Crops 5,21-23.30 Crude oil 3, 27 Currency In circulation 15 Dary products Debt, U.S. Government Deflator, PCE Department stores, sates, Inventories Deposits, bank Dishwashers and dsposers 5,21/ 14 1 9 13,15 27 Disposition of persona! income Distilled spirits Dividend payments Drugstores, sales 1 20 1,15 8,9 Earnings, weekly and hourly Eating and drinking places Eggs and poultry Bectric power Electrical machinery and equipment Empioyeejiours, aggregate, and indexes Employment and employment cost Exports (see also individual commodities) 12 8,9 5,22 2, 20 2-5,10-12,15,27 11 10-12 16-18 5 5,6 17 14 13 13 19 22 24 22 26 Failures, Industrial and commercial. Farm prices Fats and oils Federal Government finance Federal Reserve System Federal Reserve member b a n k s . , . Fertilizers Rsh Flooring, hardwood Hour, wheat Fluid power products. Food products Foreign trade (see also individual commod.) Freight cars (equipment) Fruits and vegetables Fuel oil Fuels Furnaces Furniture 2-6,8,10-12,15,17,20-23 16-18 32 5 6.28 2,6,17,27,28 27 2,6,8-12 Gas, output, prices, sales, revenues Gasoline Glass and products Glycerin Gold Grains and products Grocery stores Gypsum and products Hardware stores Heating equipment Help-wanted advertising index Hides and skins Hogs Home loan banks, outstanding advances . , Home mortgages Hotels, motor hotels, and economy hotels. Hours, average weekly. HousefumfsNngs Household appliances, radios, and television sets Housing starts and perrrits Imports (see also indwidual commooHIes) Income, personal Income and employment tax receipts Industrial production Indexes: By industry By market grouping Instalment credit Instruments and related products Interest and money rates Inventories, manufacturers' and trade Inventory-sales ratios Iron and steel 2,6,20 28 30 19 14 5,21,22 9 30 8 26 12 .'.".'."*.'.' 22 6 8 18 11 2,4-6,8,9 27 7 17,18 1 14 1.2 1,2 14 2-4,10-12 14 3,4,8,9 3 2,15,24,25 Laborforce 9,10 Lamb and mutton 22 Lead ' 26 Leather and products 2.6,10-12,23 Uvestodt 5,22 Loans, real estate, agricultural, bank (see also Consumer credit) 8,13 Lubricants 28 Lumber and products 2,6,10-12,23,24 Machine tools 26 Machinery 2-6,10-12,15,17,26,27 Manufacturers' sales (or shipments), inventories, orders 3-5 Manufacturing employment, unemployment, production workers, hours, earnings 10-12 Manufacturing production indexes 1,2 Meat animals and meats 5,22 Medical care 6 Metals 2-6,10-12,15,24-26 MIk 21 Mring 2.10-12 Mobitehomes, shipments, Installment credit 7,14 Monetary statistics 15 Money and interest rates 14 Mooeysupply 15 Mortgage applications, loans, rates 8,13,14 Motor carriers 18 Motor verides 2-4,6,8,9,15,17,32 National parks, visits Newsprint New York Stock Exchange, selected data Nonferrous metals Oats Oils andfats Orders, new and unfilled, manufacturers' Outlays, U.S. Government 18 29 16 2,4,5,15,25,26 21 17 4,5 14 Paint and paint materials 20 Paper and products and pulp 2-4,6,10-12,15,28,29 Parity ratio 5 Passenger cars 2-4,6, 8,9,15,17,32 Passports issued 18 Personal consumption expenditures 1 Personal income 1 Personal outlays 1 Petroleum and products 2-4.10-12,15,17,27,28 Rg Iron 24 Plastics and resin materials 20 Population 9 Port 22 PouHry arid eggs 5,22 Price deflator, implicit (PCE) 1 Prices (see also individual commodities) 5,6 Printing and publishing 2,10-12 Private sector employment, hours, earnings 10-12 Producer Price Indexes (see also individual commodities) 6 Profits, corporate 15 Public utiSties ; 1, 2,7,15,16,20 Pulp and pulpwood 28 Purchasing power of the dolar 6 Radio and television Railroads Ranges and microwave ovens Rayon and acetate Real estate Receipts, U.S. Government Refrigerators Registrations (new vehicles) Rent (housing) Retair trade Rice Rubber and products find, plastics) 8,27 13,16,18,32 27 31 8,13 14 27 32 6 2,3,5,8-12,14,32 21 2-4,6,10-12,29 Saving, personal Savings deposits Savings Institutions Securities issued Security markets Services Sheep and lambs Shoes and other footwear Slver Spindle activity, cotton • Steel and steel manufactures Stock market customer financing Stockprices, yields, sales, etc Stone, clay, glass products Sugar Sulfur Sulfuric add Superphosphate Synthetic textie products Tea imports Telephone carriers Television and radio Textiles and products Tin Tires and irmertubes Tobacco and manufactures Tractors Trade (retail and wholesale) Transit lines, urban Transportation Transportation equipment Travel Trucktrailers Trucks Unemptoymtrti and insurance U.S. Government bonds U.S. Government Utilities Vacuum cleaners Variety stores Vegetables and hits Wages and salaries Washers and dryers Watorheaters Wheat and wheat flour Wholesale trade Woodpulp Wool and wool manufactures.. Tjnc 1 13 8,. 14 15 15,16 6,10-12 22 23 14 31 24,25 15 18 2-4,10-12,15,30 23 19 19 19 31 t finance 23 19 27 2-4,10-12,15,30-32 26 29 2-4,10-12,23 27 2,3,5,8-12,32 18 6,10-12,15,16,18 2-6,10-12,15,17,32 18 32 2,32 9,10,13 16 15 2,6,7,15,16, 20 27 9 5 1.12 27 27 21,22 2,3,5,8,10-12 2S. 31 26