Full text of Survey of Current Business : September 1981
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SEPTEMBER 1981 / VOLUME 61 NUMBER
;
OF ;
CONTENTS
THE BUSINESS SITUATION
.
L,
. -
,
1
x
--
National Income and Product Accounts fables
9
Reconciliation and Other Special Tables
20
NIPA Erma
20
Plant and Equipment Expenditures,
the Four Quarters of 1981
21
Constant-Dollar Estimates
of New Plant and Equipment Expenditures
in the United States, 1947-80
26
ILS. International Transactions,
Second Quarter 1981
42
JUS.
Malcolm Baldrige /Secretary
'--/:'.':--'
William A. Cox / Acting Chief Economist
for the Department of Commerce
of
ife 'Analysis
. Young / Deputy Director
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor* Dannelet A. Grosvenor
Managing Editor : Patti A. Trujillo
Staff Contributors to TMs Issue: £eo Mv Bernstein,
Douglas R. Fox, George R* Green, Brace T. Grimnt,
Eric R. Johnson, Russell C. Kraeger, Daniel J.luarkins, Michael J. MdKelvey, Edward I. Steinberg, John
T* Woodward, . • -.
.
/ >.-::'* •
- . ' • ;.v'v' -.','
CUERENT BUSINESS STATISTICS
General
SI
Industry
S22
Footnotes
S$7
Subject Index (Inside Back Cover)
f Coimtterce has determined tJiat the publication; of this
printing tlids periodical has been approved by ;tae Director oi the OfSscA of
SURVEY OF CoafcEpir BUSINESS. Published monthly by
the Bureau of Economic Analysis of the U.S. Department
of Comiiiesrce, Editorial correspondence should be addressed to the Editor-in-Chiefy Survey of Current Business, Bureau of Economic Analysis, tf.S. Department ol
Commerce, Washington, D.C20230.
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1365 Feaehtree St., RE. 881-7680
GA»,Savannaii 31412
125.29 B«HSt, 944-4202
HI, H
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55 E. MomoeSt, 353-4450, 46 E, Ohio SL 269-6214
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V& P.O. & Co»rtEo«se BWf . 582*5066
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432 International Trade Mart 962-3560
•MB, Baltimore 21202
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415 US, Customhouse 962-3560
MA, Boston 02 116 - 441 Stuart St. 223-2312
Ml.Peiroif 46226
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231 W. Layfayett« 226-3650
MN.Miraheapolis S5'401
110 S-4tH Si. 725-2133
NY, Pfew ¥orl« 1027B. ..;'
26 Federal Plaza 264-0634
311103 - '
147 Jefferson Ave 521-3213
MS^lackson S9201. ,
200 E, Paseagotila 960-4308
203 Federal B!<%, 378-5345 ;
TX,bal&* 75242
' 1 100 Cowjaaei-ceSti 767*0542
' MO, Saint LOBIS 631D'5
.
120 S, Central Ave. 425-3302
' MO, -Kansas City- 64 W6
601 E. 12th St. 374-3142
300 S. 19th St. 221.3664
NV, Reno 89503
' .
777 W, 2nd Si. 784*5203
OH, Cineiaatti 45202'
. 550 Maift St 684-2944
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1220 %* W, 3rfl Ave, 221-3001 ' '
FA,
' 600 Areh St 597-^866.
NJ, Newark 07102
4th Floor, Gateway Bldg. 645-6214
1000 Liberty 'Ave. '644-2850 ',
NM, Albuquerque
505 Marquette Ave., N.W. 766*2386
Em. 659, Federal Bl%; 7534555'-
NY, Buffalo 14202
1 1 1 W. Huron St. 844-4191
SC, Coltimim 29201 "
1835 AsseroWy.St. 765-5345 '
77002 ,
515 Ewsk St. 1264231
'lITvSalt Lake City 841O1
• 350 S, Main St. 5244116 ;
23240'*
•400 N. 8th St, 771-2246
m, 706,,Lafe« Union »1% '442-5616 '
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5600 Quarrfef St. 343-6181
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51 7 E,.WiseoasmAvey 291.3473
2120
Capitol Ave. 778-2220
the BUSINESS SITUATION
J_ HE economy remained weak in the
third quarter. On the basis of information available in mid-September,
the annual rate of change in real GNP
was within a 3-percentage-point range
centered at zero.1 Although sales of
motor vehicles rebounded after their
second-quarter plunge, each category of
final sales excluding motor vehicles
continued lackluster performance and,
taken together, were down about as
much as in the second quarter. The increase in motor vehicle sales came out
of inventories, which had become excessive in the second quarter. The swing
from accumulation to liquidation of
motor vehicle inventories is likely to
have been partly offset by a move to a
higher rate of accumulation of other
inventories.
Inflation again was somewhat below the double-digit rate in the first
quarter. The increase in the fixedweighted price index for GNP apparently was a little more than the 8-percent annual rate in the second quarter.
Indexes for some components increased
more, and for others a little less, than
in the second quarter.
1. The major source data that shed light on
third-quarter GNP are limited to 1 or 2 months
of the quarter, and in some cases are preliminary.
These data are: For personal consumption expenditures (PCE), July and August retail sales,
unit sales of new autos through the first 10 days
of September, and sales of new trucks for July
and August; for nonresidential fitved investment,
the same data for autos and trucks as for PCE,
July construction put in place, July maufacturers' shipments of equipment, and business investment plans for the quarter; for residential investment, July construction put in place, and July
and August housing starts; for change in business
inventories, July book values for manufacturing
and trade, and unit auto inventories for July and
August; for net exports of goods and services,
July merchandise trade; for government purchases of goods and services, Federal unified
budget outlays for July, State and local construction put in place for July, and State and local
employment for July and August; and for GNP
prices, the Consumer Price Index for July and
the Producer Price Index for July and August.
The index for personal consumption
expenditures (PCE) was among those
that increased more—about T1/^ percent
at an annual rate compared with G1/^
percent in the second quarter. The increase in the prices of food accelerated
from a i^-percent increase in the second
quarter. The acceleration was due to
a turnaround in prices of food consumed at hoime, particularly meat and
poultry. Prices of restaurant meals continued to increase at the second-quarter
rate. In contrast, prices of energy
decelerated, probably registering a
slight decline. Gasoline prices declined
sharply after increasing 2% percent in
the second quarter; on a monthly basis,
they began to decline in April. Fuel
oil prices also declined. Prices of other
PCE goods and services increased
somewhat more than the 8 percent registered in the second quarter. Their increases have moved in a narrow range
of 7-9 percent over the past year.
Employment and unemployment.—
If August is taken as representative of
the third quarter, there was, on balance,
little change in labor market conditions. The payroll measure of employment increased 481,000, somewhat more
than in either of the two previous quarters (table 1). Employment increased
in services, trade, mining (largely because the coal strike had depressed employment in April and May), and
manufacturing, but continued to decline in government and construction.
Employment in construction fell to its
lowest level in more than 3 years. Average weekly hours in the private nonfarm economy were 35.3 unchanged
since the fourth quarter of 1980 and up
only 0.1 from the second-quarter 1980
recession/Manufacturing hours were
down 0.1 to 40.1.
The household measure of employment, which had registered an unusually large increase of 856,000 in the
second quarter, increased only 76,000 in
the third. Unemployment decreased
243,000, and the unemployment rate,
which had held steady at 7.4 percent in
the second quarter, dropped to 7.2 percent in the third.
Personal income and its disposition
Continued weakness in the economy
was visible in the components of personal income that are related to production. Wage and salary disbursements
registered a moderate increase—$33
billion (table 2) .2 It was larger than the
second-quarter increase mainly because
of the effects of the coal strike—the
strike reduced second-quarter wages
about $2% billion, and the resumption
of coal mining added about $2% billion
2. Quarterly estimates of the national income
and product accounts are expressed at seasonally
adjusted annual rates, and quarterly changes in
them are differences between these rates.
Historical NIPA Tables Available
The National Income and Product
Accounts of the United States, 1929-16:
Statistical Tables, is now available
from the Superintendent of Documents,
U.S. Government Printing Office, Washington, D.C. 20402. (Stock number 003010-00101-1, price $10.00). National Income and Product Accounts, 191G-19
was published in July 1981 as a Special
Supplement to the SURVEY (Stock number 003-010-721888-0, price $3.75).
These publications present the results
of the comprehensive revision of the national income and product accounts described in the December 1980 SURVEY.
SUEVEY OF CUKRENT BUSINESS
September 1981
Table 1.—Selected Labor Market Indicators
[Seasonally adjusted]
•
1980
Change from preceding quarter
1981
HI
IV
104,982
97,061
7,921
4,357
1,758
2,598
3,610
105, 173
97,276
7,897
4,232
1,538
2,693
3,665
105,800
98,012
7,788
3,863
1,275
2,589
3,872
106,768
98,868
7,900
4,041
1,338
2,702
3,902
106,464
98,962
7,502
3,691
1,178
2,513
3,793
106,602
98,944
7,657
3,929
1,205
2,724
3,721
191
215
-24
-125
-220
95
55
627
736
-109
-369
-263
-104
207
7.5
6.6
6.4
18.4
7.5
6.3
6.7
18.3
7.4
6.0
6.6
19.1
7.4
6.1
6.6
19.2
7.0
5.6
6.7
18.1
7.2
5.9
6.5
18.8
0
-.3
.3
-.1
-.1
-.3
-.1
.8
o'
.1
-.2
-.2
-.1
-.4
90,213
25,306
4,319
90,820
25,594
4,385
91,232
25,670
4,398
91,546
25,741
4,345
91,966
25,947
4,269
92,027
25,929
4,265
607
288
66
412
76
13
314
71
-53
481
188
-80
11,911
8,064
25,529
23,177
16,201
12,060
8,098
25,585
23,399
16,242
12,086
8,095
25,721
23,619
16,222
12,246
8,144
25,842
23,849
16,114
12,339
8,208
25,955
23,999
16,065
12,330
8,185
26,042
24,043
16,013
149
34
56
222
41
26
—3
136
220
-20
160
49
121
230
-108
84
41
200
194
-101
35.2
39.4
35.3
39.8
35.3
39.9
35.3
40.2
35.2
40.0
35.3
40.1
.1
.4
0
.1
0
.3
0
-.1
I
July
II
Aug.
1980: IV
1981: 1
1981: II
1981: Aug.
Household survey
Civilian labor force (thousands)
Employment
UnemploymentJob losers.
.
. . ..
On layoff
Other job losers.
Job leavers, reentrants, and new entrants
Unemployment rate (percent):
Total
Adult men
Adult women . .
Teenagers..
..
. .. ..
968
856
112
178
63
113
30
0
-166
76
-243
-112
-133
22
-181
Establishment survey
Employment , nonf arm payroll (thousands)
Goods producing
Construction .
Manufacturing:
Durables
Nondurables
Distributive^
Services2 .. .
Government
.
Average weekly hours, private nonfarm:
Total....
Manufacturing
1. Transportation and public utilities, and wholesale and retail trade.
2. Services, and finance, insurance, and real estate.
Source: Bureau of Labor Statistics.
in the third quarter. Increases in wages
and salaries in manufacturing, distributive, services, and government were
similar to those in the second quarter.
Farm proprietors' income continued
to recover from its 31/4-year low recorded in the first quarter of 1981. The
second- and third-quarter increases
were similar in size—about $2^ ^billion—but different in their source. In
the third quarter, the increase was in
receipts from livestock marketings,
where a substantial increase in prices
more than offset a further cutback in
volume. In the second quarter, the increase had been in crop receipts, where
a sharp increase in volume had more
than offset a drop in prices.
Personal interest income increased
$15 billion. This increase was larger
than in the second quarter but fell short
of that in the first—mainly following
the course of interest rates. Personal
interest income has been the fastest
growing component of personal income.
Personal interest income and the procedures used to estimate it are described
in the accompanying Special Note.
Transfer payments, which are not related to production, increased $19^ billion, accounting for about one-fourth of
the third-quarter increase in
income. An 11.2 percent cost-of-living Table 2.—Personal Income and Its Disposition: Change from Preceding Quarter
adjustment to transfer payments under
several Federal programs went into ef[Billions of dollars, based on seasonally adjusted
annual rates]
fect in July. The adjustment amounted
to $16^ billion, of which $15 billion
1981
was in social security benefits.
Total personal income increased
I
11 in*
$76% billion, compared with $48% bil45.1 24.1 33.1
Wage and salary disbursements— .
lion in the second quarter, and dispos9.4
8.6
Manufacturing
:
12.4
3.6
6.1
Other commodity-producing
4.9
able personal income increased $61 bil5.9
7.1
11.4
Distributive
8.9
12.5
8.0
lion, or 13 percent, compared with $38
Services
Government
and
government
3.4
4.4
3.9
billion, or 8 percent. The third-quarter
—1.9
2.0 -2.8
increase in income was larger than that Proprietors' income . 2.7
2.6
-3.5
Farm
in outlays, so that saving increased and
.2
1.6 -.7
the saving rate edged up from 5.4 per19.0 12.1 14.8
Personal interest income
19.6
cent in the second quarter. Changes in Transfer payments -- . .- . - _ 5.7 4.6
7.9
6.7
6.8
Other income *.
saving and the saving rate were prob- Less: Personal contributions for social 11.0 .8 1.7
insurance.
ably affected by the large and abrupt
Personal income /
___._.«__- 63.6 48.7 76.4
changes in PCE on motor vehicles in
Less: Personal tax and nontax
15.3
12.8 10.9
the third and earlier quarters of the
.5
—2.8 —1.4
Impact of legislation
15.6 12.3 14.8
year. Also, because personal saving is
Other
61.1
50.8 37.8
measured as the difference between sea- Equals: Disposable personal income
59.5 20.1 54.0
Less* Personal outlays
sonally adjusted disposable personal in7.1
—8.7 17.7
.
come and seasonally adjusted personal Equals* Personal saving
outlays, saving and the saving rate are Addenda: Special factors2.0
influenced by the procedures used to adMinimum wage
...
Cost-of-living increases in Federal
just income and outlays for seasonality.
transfer payments
- - -1.1 1.3 16.3
Social security (in personal contribuThe cost-of-living increases in benefits
tions for social insurance):
2.3
are not seasonally adjusted; in contrast,
6.7
outlays—of which expenditures made
2.6
-2.6
out of benefit increases are an indistinguishable part—are.
•Projected.
September 1981
In real terms, disposable inconife increased 4 percent at an annual rate. Except in the second quarter, when it had
increased only l1/^ percent, increases in
real disposable income have been in the
range of 3-4 percent since the 1980 recession.
Seal PCE.—Aside from PCE on motor vehicles and parts, which recovered
about two-thirds of their second-quarter loss, PCE continued weak. It increased less than 1 percent at an annual
rate after increasing only iy2 percent
in the second quarter. In goods, all major categories except energy weakened. Gasoline increased—the first
strong increase in three quarters. In
services, the increase continued below
trend.
The effect on consumer spending of
the third-quarter increase in personal
income is hard to assess, because little
is known about the pattern of spending
out of cost-of-living adjustments to
transfer payments, which are one-shot,
received largely by retirees., and expected because they are legislated. However,
given the strength of real disposable income over the past year, the weakness of
PCE on other than motor vehicles must
be due to factors other than income.
The sharp decline of residential construction and high interest rates on consumer loans help explain the weakness
in furniture and household equipment.
The course of prices helps explain food
and energy: A third-quarter decline in
food, after two quarters of increase, coincides with the acceleration of food
prices, and the strong increase in gasoline coincides with the decline in its
price.
In motor vehicles, purchases of cars
were up sharply. Unit sales of domestic
new passenger cars averaged 8.2 million
(seasonally adjusted annual rate) in
July-August, up from 5.9 million in
the second quarter. Domestic sales in
August were boosted substantially by
cash rebate, dealer incentive., and interest subsidy programs, which helped reduce the overhang of inventories. August sales were up sharply for each size
category (chart 1). Sales of imported
cars, at 2.3 million in July-August,
were little changed from the second
quarter.
SURVEY OF CUEEENT BUSINESS
Other real final sales
Eesidential investment, which had
declined at a 23-percent annual rate in
the second quarter, declined at least as
sharply in the third. Both single-family
and multif amily construction declined,,
lagging the course of housing starts.
Single-family starts, which had declined 13 percent in the first quarter
and 10 percent in the second (not at an-
nual rates), dropped to 591,000 (seasonally adjusted annual rate) in August—
the lowest level since the series began
(chart 2). Multif amily starts, which
had held almost steady in the first quarter and declined 24 percent in the second, slid further in July-August.
Moreover, a 20-percent decline in total
building permits in July-August—
even sharper than the decline in total
CHART 1
Retail Sales of New Passenger Cars
Million Units
12
71 t i « i i.. i - t i i : ' . . . i > l t i t.. .1 « i » i t i i I i - i t « i i - t t « t i
DOMESTIC LARGE CARS
intermediate
Putt-Size
0l i t
i \ \ t... t «
DOMESTIC SMALL CARS ANO IMPORTS
Imports
»**
•***"*'**,..X*"^
\
•
\
Compact
Subcompact
1978
1979
1980
Seasonally Adjusted at Annual Rates
Note.—The components may not add to the total because each category was separately adjusted for. seasonal variation.
Data; Motor Vehicle Manufacturers Association of the United States, Inc. and Ward's Automotive Reports; seasonal adjustment by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
1981
Special Note.—Personal Interest Income
SINCE 1979, personal interest income
has increased about 50 percent. By the
third quarter of 1981, it accounted for
almost 13 percent of personal income,
compared with 10.8 percent in 1979 and
9.5-9.7 percent in the mid-1970's. Increases in personal interest income can
stem from increases in persons' holdings of interest-bearing assets and/or
from increases in the average interest
rate earned on these holdings. Data
needed for decomposition into these elements are lacking. However, because
increases in interest rates have been so
sharp, it is clear that the increase in
the average interest rate has been the
primary element. Shifts of portfolios
toward higher yielding assets as well as
increases in interest rates for particular
types of assets contributed to the increase in the average.
Personal interest income is defined in
the national income and product accounts as interest income of persons
from all sources. In addition to monetary interest, it includes imputed interest. (The inclusion of imputed interest
is part of a procedure that is necessary
to avoid the understatement of income
and product originating in financial
businesses that would otherwise arise
because these businesses provide some
services that are not matched by explicit
charges.)
Because interest income cannot be
estimated reliably on the basis of information either about persons' interest receipts or about the portions of interest payments made by business, government, and the rest of the world that
go to persons, an indirect estimating
procedure must be used. Interest received by persons is estimated as interest paid in the United States and the
interest paid by foreigners to the
United States less interest received in
the United States by transactors other
than persons and the interest paid in
the United States to foreigners.
This procedure can be stated algebraically. If interest is paid (p) and
received (r) by business (B), by persons (P), by government (G), and by
foreigners in transactions with the
United States (F), then:
liminary or incomplete; the estimates
become subject to a substantial margin
of error. The last year for which detailed estimates have been published is
1979. They are in table 8.7 of National
Income and Product Accounts, 1976-79
and are shown in summary form in the
Bp+Pp+Gp+Fp=Br+Pr+Gr-f-Fr.
accompanying tabulation, as are estiEearranging, Pr can be expressed as:
mates for the second quarter of 1981.
Pr= (Bp-Br) + (Fp-Fr) +Gp-Gr+Pp.
Information about the makeup of
Inasmuch as [(B p -B r ) + (F P -F r )] the items used in the estimation of peris the net interest item in the national sonal interest income, as well as inferincome and product account, it can ences about the reliability of the estibe seen that personal interest income mates, can be drawn from the following
equals that net interest item plus inter- summary methodology, which is keyed
est paid by government less interest to the tabulation.
(la) For net interest paid by busireceived by government plus interest
paid by persons. This statement repli- ness, annual estimates are derived
cates the presentation in the Summary mainly from tax return tabulations
National Income and Product Ac- prepared by the Internal Revenue
counts, which is used because informa- Service (IES) of interest paid and retion is available with which to estimate ceived by corporations, sole proprietorships, and partnerships. For a few ineach of these items.
The last year for which final infor- dustries, data from regulatory agenmation for estimating personal interest cies (e.g., Federal Deposit Insurance
income is available is 1976; this estimate Corporation, Federal Home Loan
is well-founded. For later periods, the Bank Board, National Credit Union
information becomes increasingly pre- Administration) and other sources are
Billions of dollars
Algebraic expression
National income and product accounts item
Seasonally adjusted
annual rate
1979 i
1981
II
Pr
(1) [(Bp-B,)+(Fp-Fr)]
(la) Bp-Br
Personal interest income -.
....
Net interest
Paid by business
Monetary
Imputed
(Ib) Fp-Fr
(2)
Gp-Gr
(3) P P
Paid by the rest of the world
209.6
300.9
143.4
211.0
129. 8
183.4
55.2
74.6
90.8
92.6
13.5
27.6
Interest paid by government
to persons and business less
interest received 2
22.5
41.0
Interest paid by consumers to business 3
43.7
48.9
III*
315.6
* Projected.
1. See table 8.7 in National Income and Product Accounts, 1976-79.
2. "Interest paid by government to persons and business" excludes interest paid by government to foreigners. Such payments
are not regarded as payments for services produced by property supplied by foreigners to the United States, and are therefore
excluded from production in the rest of the world.
3. "Interest paid by consumers to business" (1) excludes interest paid by nonprofit institutions (it is included in the business
component of "net interest"), (2) excludes interest on loans associated with homeownership (it also is included in the business
component of "net interest"), and (3) assumes that consumers pay interest only to business.
September 1981
SUKVEY OF CUEEENT BUSINESS
used. Estimates for years since the
latest IES tabulations are prepared by
extrapolating by the product of debt
outstanding (from the flow-of-funds
accounts of the Federal Eeserve Board)
and estimated interest rates. Quarterly
estimates of net monetary interest paid
by business for years for which there
are annual estimates are prepared by
interpolating annual estimates by indicator series that are the product of debt
outstanding, based primarily on the
flow-of-funds accounts, and interest
rates; other quarterly estimates are
prepared by extrapolating by past
trends with allowance for changes in
interest rates. For recent quarters, it is
generally assumed that changes in debt
outstanding have little impact on the
estimates.
(Ib) For net interest paid by the rest
of the world, estimates are based on the
balance of payments accounts. The balance of payments items in which interest is included are direct investment
receipts and payments, other private
receipts and payments, and U.S. Government receipts. These items are de-
scribed in Part II of the June 1978
SURVEY OF CURRENT BUSINESS.
(2) For net interest paid by the
Federal Government, estimates are derived from the Budget of the United
States and the Monthly Treasury Statement. For net interest paid by State and
local governments, estimates are based
; on annual and quarterly Census Bureau
survey data.
(3) For interest paid by consumers
to business, estimates are based mainly
on Federal Eeserve data on outstanding
consumer installment and noninstallment credit multiplied by applicable
interest rates. (Interest payments on
mobile home and home improvement
loans are excluded because, in the national income and product accounts,
homeownership and its related income
and expenses are treated as part of the
business sector.)
As noted earlier, the estimating procedure for personal interest income is
an indirect one: Although the items
used in estimating personal interest income are not parts of it, taken-together
they measure it. Even though the items
are not part of personal interest income,
their magnitudes are worth noting because they shed light on the relative importance of interest flows in the
economy. Net interest paid by business
has increased almost 50 percent since
1979. Monetary interest increased much
more rapidly than imputed interest,
reflecting the fact that net monetary
interest is more sensitive to interest
rate changes than is imputed interest.
Net interest paid by the rest of the
world has more than doubled, reflecting
a faster increase in U.S. investment
abroad than in foreign investment in
the United States, as well as increasing
interest rates. Net interest paid by
government has increased more than 80
percent. The Federal Government more
than accounted for the increase, which
was traceable largely to increasing
interest rates. Interest paid by consumers to business has shown only a
small increase over the period. The increase was interrupted in mid-1980 by
the limited extension of credit related
to the Federal Eeserve's credit control
program and the weakness in sales,
especially of autos.
starts—suggests continued weakness in
residential construction in the near
future.
Continued unfavorable financial conditions were a major factor in the decline in residential investment in the
third quarter. Deposits (exclusive of interest credited) at mutual savings
banks and insured savings and loan associations fell $14.6 billion in JuneJuly, bringing the net deposit loss for
the first 7 months of the year to $24.8
billion. Balances in 6-month MMC accounts—money market certificates—increased during January-July, but the
average monthly increase was only $4.1
billion, compared with $6 billion in
1980. (Maturing MMC's were rolled
over at interest rates averaging about
2 percentage points higher than the
rates at which they had been issued.)
To offset this poor deposit experience,
thrifts resorted to heavy and costly borrowing during January-July.
Eeflecting these developments, as well
as the general upward movement in
long-term rates, the commitment interest rate on 25-year mortgages with a
loan-to-price ratio of 75 percent drifted
up until early April and then rose
sharply to 16.79 percent in August
(chart 3). The 1.69-percentage-point increase over the 4 months, would translate into a 10-percent increase in monthly payments on new mortgages. Moreover, the prime rate—to which interest
rates on construction loans are tied—
was high throughout the period and
hovered around 20-20^ percent from
late May to mid-September.
Nonresidential fixed investment was
again flat. In producers' durable equipment, motor vehicles partly recovered
from their second-quarter decline, but
other producers' durable equipment
slipped further. Structures registered
another small increase. This lackluster
performance of nonresideritial fixed
investment is in line with plans for 1981
reported in the BE A plant and equipment survey, which is discussed later
in this issue. The latest survey was
taken at about the same time as the passage and signing of the Economic Becovery Tax Act of 1981, but because
Changes in investment plans in response
to Government actions require several
months, the results of the survey probably were not appreciably affected by
the act.
On the basis of very limited information, net exports declined further. The
decline (was again concentrated in
goods. Both agricultural and nonagricultural exports are being held down
by the appreciation of the dollar. Imports may have declined after several
quarters of increase.
In government, defense purchases
picked up in the third quarter—perhaps the beginning of the expected upturn. With the exception of purchases
SURVEY OF CUERENT BUSINESS
6
CHART 2
Housing Starts
Millions of Units
2.5
1.0 tr
.5-H
1977
1978
1979
1981
1980
Seasonally Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
associated with the agricultural price
support operations of the Commodity
Credit Corporation, nondefense Federal purchases continued to slip. Purchases by State and local government
were down again. A major factor in
both the second and third quarters was
tihe lowered level of Federal support.
Employee compensation reflected the
phasing out of employees hired previously under the Comprehensive Employment and Training Act, and structures reflected the limitation of growth
in grants-in-aid supporting specific
types of construction and the elimination of the State portion of general
revenue sharing. In addition, construction (may have been held down by the
persistence of high interest rates.
Summing up
This review indicates the likelihood
of a third-quarter decline in real final
sales other than of motor vehicles: Declines in fixed investment, net exports,
and government purchases more than
offset a small increase in PCE. However, if the recovery of motor vehicle
sales is added in, total final sales may
have registered a small increase. In inventories, there was a substantial runoff
of motor vehicle inventories following
a second-quarter buildup; the resulting
swing amounted to about $8% billion.
Little is known about other inventories,
but it seems likely that the weakness in
final sales led to a step-up in the rate of
accumulation. If it is assumed that this
step-up partly offset the swing in motor
vehicle inventories, the third-quarter
change in real GNP would be near zero.
September 1981
Second-quarter profits
Corporate profits from current production—profits with inventory valuation and capital consumption adjustmentsr—decreased $12i/£ billion, to
$1901^ billion, in the second quarter of
1981. (This estimate is $3% billion
higher than the estimate published a
month ago.) The decrease, which was
widely spread across industries, was
partly due to the weakened economic
situation. In addition, profits of financial institutions were directly affected
by higher interest rates.
Domestic profits of nonfinancial corporations decreased $5*^ billion to
SMG1/^ billion, after increasing $24 billion in the first quarter. Detail by industry is available for profits with inventory valuation adjustment but without capital consumption adjustment.
The second-quarter decrease in profits
of manufacturing corporations accounted for the overall decrease (table
3). Within manufacturing, all industries other than motor vehicle and fabricated metal products manufacturing
registered decreases. A large decrease
in petroleum manufacturers' profits reflected declining demand for their products. Declining demand made it more
difficult to pass on to product prices
higher costs of crude oil,, and the re-
Table 3.—Corporate Profits of Nonfinancial Corporations with Inventory Valuation
Adjustment and without Capital Consumption Adjustment
[Billions of dollars; seasonally adjusted at annual rates]
Change from preceding quarter
1980
I
I
Nonfinancial
146.7
92.1
28.1
Fabricated metal products -IVTaoliinerv except electrical
r'h/vmipa.iQ and ftllipd Droducts
Other
Other
5.4
11.9
-1.2
II
-18.2
-30.8
-18.0
1981
II
1981
1980
III
8.7
7.2
9.3
IV
I
II
6.7
20.8
-5.7
158.0
7.7
14.2
-6.0
84.4
6.4
5.7
.4
31.9
3.2
.9
-.1
-.2
4.1
-1.4
1.3
-.7
2.6
3.1
-.8
.2
-1.3
.5
-.5
-2.2
4.3
-.5
3.8
4.6
8.2
6.2
2.7
6.3
5.9
5.2
7.3
6.6
-2.9
6.0
3.1
.4
-.7
.9
-2.1
-2.8
-3.9
-3.5
-1.5
-2.8
-5.9
-.4
-1.4
2.1
.5
1.7
4.0
2.3
64.0
13.1
-12.8
-2.1
1.3
8.5
-6.4
52.5
2.9
1.1
-2.4
-.4
1.8
2.0
1.7
3.0
-.9
-1.8
-3.0
-1.7
9.5
8.3
19.6
15.1
-3.7
2.2
.4
2.0
4.9
-.1
-.8
.9
0
20.0
28.4
25.1
8.2
8.8
31.0
16.0
1.6
2.2
7.3
2.2
-1.5
-2.8
-5.8
-2.8
-1.1
1.1
-3.0
1.0
16.1
14.8
22.7
1.2
-7.8
.1
.5
11.1
1.0
5.9
-5.5
1.1
SUEVEY OF .CUEEENT BUSINESS
September 1981
suiting squeeze on margins depressed
profits. The increase in motor vehicle
manufacturers' profits reflected increased manufacturers' shipments (although for dealers, sales fell and inventories built up).
Profits of transportation corporations
decreased. Losses of airlines increased
and profits of railroads and trucking
companies were lower, reflecting lower
revenue ton-miles of freight carried by
railroads and flat intercity truck tonCHART 3
Selected Interest Rates
Percent
22
18
MORTGAGES FOR NEW HOUSES
16
14
12
10
8
1977
1978
*At end of the month.
U.S. Department of Commerce, Bureau of Economic Analysis
1979
1980
1981
Data: FRB, FHLBB
nage. The increase in airlines' losses
occurred despite a continuing rapid increase in fares and a moderate increase
in revenue-passenger miles. Profits of
other nonfinancial nonmanufacturing
corporations increased.
Domestic profits of financial corporations decreased $4% billion to $21 billion, after decreasing $2 billion in the
first quarter. Most of the second-quarter
decrease was due to lower profits of
commercial banks and increased losses
of mutual savings banks and of savings
and loan associations. The increased
losses reflected both net withdrawals of
deposits and higher interest rates paid.
In contrast, higher interest rates
boosted earnings of Federal Reserve
banks, which are treated as part of
corporate business in the national income and product accounts (NIPA'k).
Much of the increase registered by these
banks was due to higher average interest
rates on Federal Reserve holdings of
U.S. Government debt; a smaller portion was due to larger holdings.
Profits from the r6st of the world—
measured as the net inflow of dividends
and reinvested earnings of incorporated
foreign affiliates, and of earnings of unincorporated foreign affiliates—decreased $2% billion to $23 billion, after
a decrease of the^same size in the first
quarter. The second-quarter decrease
was more than accounted for by lowez*
profits on'ffie overseas petroleum operations of U.S. corporations^
Disposition of profits.—Profits before tax decreased $28 billion to $229
billion, after an increase of $7% billion
in the first quarter.3 Profits before tax
include profits corresponding to the
inventory valuation and capital consumption
adjustments.4
Inventory
3. The estimates of profits before tax and of
related measures have been adjusted to incorporate changes in tax law that resulted from the
enactment of the Economic Recovery Tax Act of
1981. The impact of the act on these estimates
was summarized in the August issue of the SURVEY
OF CURRENT BUSINESS, p. 2 (table 2).
4. The valuation adjustments are designed to
value inventories and fixed capital used up In
production at replacement costs, the valuation
concept underlying national income and product
accounting, rather than at historical costs, the
concept generally underlying business accountIng. The capital consumption* adjustment also
places the using up in production of fixed capital
on a consistent basis with respect to service
lives (85 percent of Internal Revenue Service Bui-
8
SUEVEY OF CUEKENT BUSINESS
September 1981
profits decreased $15 billion to $24 bil- Table 4.—Revisions in Selected Component Series of the NIPA's, Second Quarter of 1981
lion, after a decrease of $9 billion.
Seasonally adjusted at
Percent change from preProfits attributable to underdepreciaannual rates
ceding quarter at annual rates
tion were unchanged at $141/£ billion,
45-day
75-day
Re45-day
75-day
Reafter a decrease of $3 billion.
vision estimate estimate
estimate estimate
vision
Corporate profits taxes, which are
levied on profits including inventory
Billions of current dollars
profits and profits attributable to underGNP
2,881.6 2,885.8
4.2
0.6
4.1
4.7
depreciation, decreased $H1/£ billion to
Personal consumption expenditures
1,831.0
-1.9
4.7
-.4
1,829.1
4.3
$76i/£ billion, after an increase of $2^
Nonresidential fixed investment _323.3
324.6
1.3
9.7
11.4
1.7
Residential investment
111.3
110.7
-.6
-17.4
-19.2
-1.8
billion. Dividends, however, increased;
Change in business inventories
23.3
21.2
2.1
Net exports .
17.7
3.1
20.8
they increased $2% billion to $62 bil577.4
Government purchases
577.1
.3
.4
.2
.6
.1
Federal
219.4
219.5
-3.9
-3.7
.2
lion, after an increase of $2 billion. Un.2
State and local 357.9
357.7
3.1
.2
3.3
distributed profits decreased $19 billion National income
_.
4.4
2,316.5 2,320.9
4.5
5.3
.8
to $90% billion, after an increase of $3
Compensation of employees
1,751.2
1,752.0
.8
6.9
7.1
.2
Corporate profits with inventory valuation and capital
billion. The second-quarter level of unconsumption adjustments
190.3
3.3
187.0
-28.0
-22.7
5.3
Other..
.3
378.5
378.2
14.5
.3
14.8
distributed profits was equal to the pre-.4
2,368.9
2,368.5
8.7
0
8.7
vious recent low, which occurred in the
second quarter of 1980.
Billions of constant (1972)
dollars
* * *
1,507.4
1,510.4
3.0
GNP
_
-2.4
-1.6
.8
Second-quarter NIP A revisions
Personal consumption expenditures.
,.
._
-.2
-2.1
955.3
955.1
-2.0
-.1
The 75-day revisions of the national
Nonresidential fixed investment
.7
-2.1
160.4
161.1
-4.0
1.9
Residential investment
-.3
-2.4
48.1
47.8
-21.0
-23.4
income and product account estimates
Change in business inventories
9.7
10.8
1.1
Net exports
46.2
1.6
44.6
for the second quarter of 1981 are shown
Government purchases
.2
289.3
289.5
.2
-5.8
-5.6
Federal
108.7
.1
-8.4
108.6
-9.0
.6
in table 4.
State and local
.
0
0
180.7
180.7
-3.8
-3.8
letin F for equipment and nonresidential structures) and depreciation formulas (straight-line).
If the historical costs of inventories used up is less
than their replacement costs, profits as measured
by business exceed profits as measured in the
NIPA's by an amount that is called inventory
profits; in deriving profits from current production from profits before tax these inventory profits
are removed by the inventory valuation 'adjustment. If fixed capital used up as measured by
business is less than as measured in the NIPA's,
business profits exceed NIPA profits by an amount
that is equal to the underdepreciation of the capital stock; in deriving profits from current production from profits before tax, profits attributable to underdepreciation are removed by the capital consumption adjustment.
Index numbers, 1972=100 1
GNP implicit price deflator
GNP fixed-weighted price index _ _
GNP chain -price index
.. ..
_
1. Not at annual rates.
NOTE.—For the second quarter of 1981, the following
revised or additional major source data became available:
For personal consumption expenditures, revised retail sales
for June, consumer share of new car purchases for June, and
consumption of electricity for May; for nonresidential fixed
investment, revised manufacturers' shipments of equipment
for June, revised construction put in place for June, business
share of new car purchases for June, and business expenditures for plant and equipment for the quarter; for residential
investment, revised construction put in place for June; for
191. 17
198. 1
191.06
198.1
-.11
0
6.6
8.0
7.8
6.4
7.9
7.7
-.2
-.1
-.1
change in business inventories, revised book values for manu"
facturing and trade for June; for net exports of goods and
services, revised merchandise trade for June, and revised
service receipts for the quarter; for government purchases
of goods and services, revised construction put in place for
June; for wages and salaries, revised employment, average
hourly earnings, and average weekly hours for June; for
net interest, revised net interest received from abroad for the
quarter; for corporate profits, revised domestic book profits
for the quarter, and revised profits from the rest of the world
for the quarter; and for GNP prices, revised residential
housing prices for the quarter.
SURVEY OF CURRENT BUSINESS
September 1981
9
National Income and Product Accounts Tables
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The table numbers will also be used
in future publications presenting national income and product account estimates. The groups are:
1. National product and income
5. Saving and investment
2. Personal income and outlays
6. Product and income by industry
3. Government receipts and expenditures
7. Implicit price deflators and price indexes
4. Foreign transactions
8. Supplementary table: Percent change from
preceding period for selected items
The abbreviations used in the tables are: CCAdj Capital consumption adjustment
IVA
Inventory valuation adjustment
NIPA's National income and product accounts
p
Preliminary
r
Revised
1980
1979
1980
I
II
III
IV
I
1981
1980
1981
II'
1979
1980
I
Seasonally adjusted at annual rates
IV
III
II
I
II'
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of dollars
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
2,413.9 2, 626. 1 2,571.7 2,564.8 2, 637.3 2,730 6 2 853 0 2,885.8 1,483.0 1 480 7 1,501.9 1,463.3 1,471.9 1,485 6 1,516.4 1,510.4
Gross national product
Personal consumption expenditures
Durable goods
Nondurable goods
Services
1,510.9 1,672.8 1 631.0 1 626 8 1 682 2 1 751 0 1 810 11 829 1 930 9
__>
212.3
602.2
696.3
Gross private domestic investment
Fixed investment
.. . .
Nonresident! al
Structures . >
Producers' durable equipment .
Residential—
.___
.
Nonfarm structures
.
Farm structures
Producers' durable equipment .
Change in business inventories. .»
Nonfarm
__
_
Farm
Net exports of goods and services,
211.9
675 7
785.2
220.9
661 1
749.0
194.4
664 0
768 4
208.8
674 2
799 2
223 3
703 5
824 2
377 1
238.3
726 0
845 8
227.3
735 3
866 5
146.6
354 6
429 6
935 1
943 4
919 3
930. 8
946 8
960.2
955.1
135 8
358 4
440 9
145.4
361 5
436 5
126.2
356 6
436 5
132. 6
354 9
443 3
139.1
360 4
447 3
146.8
364 5
448.9
137.4
367.0
450.7
415.8
395 3
415 6
390 9
397 7
437 1
458 6
232 6
203 6
218 3
200 5
195 3
200 5
211 6
219.7
398.3
279.7
96.3
183.4
118.6
113.9
18
2.9
17.5
13.4
4.1
401.2
296.0
108 8
187 1
105.3
100.3
20
413. 1
297.8
108 2
189 7
115.2
110.1
2 2
30
383.5 393 2 415 1
289.8 294.0 302 1
107 3
108 4
111 5
181 4
186 8
190 7
93 g
99 2
113 0
94.5
107 6
88.9
22
18
17
29
30
31
7.4 —16.0 —17 4
6.1 —12.3 —14.0
1 3 —3 7
—3 4
432 7
315.9
117 2
198 7
116 7
111.4
22
32
45
435 3
324.6
123 1
201 5
110 7
105.4
21
32
23.3
21.5
18
22° 5
163.3
48 5
114 8
59 1
56.2
206 6
158.4
48 4
110 0
48 1
45.2
199 2
156.1
48 7
107 4
43 1
40.3
20
—2.9
—2.4
— 5
200.2
155. 5
46 8
108 8
44 7
41.9
7
20
—5.0
—3.1
18
207.6
157.0
47 g
109 3
50.6
47.5
10
20
—7.2
—5.6
—1 5
213.1
162.0
49 6
112.4
51.0
48.0
20
10 2
219 2
165 0
50 5
114 5
54 2
51 2
10
21
— 9
—1.4
208.9
161.1
50.4
110.7
47.8
44.8
.9
2.0
10.8
9.9
.9
3.0
—5.9
—4.7
—1.2
2.5
1.5
10
6.8
—24
9
7.8
24
g
g
20
1.3
.6
7
5
9
2.1
—1.4
—.3
—1.1
13.4
23.3
8.2
17.1
44.5
23 3
29.2
20.8
37.7
52.0
50.1
51.7
57.6
48.5
50.9
46.2
.__ _
281.3
267.9
339.8
316.5
337.3
329.1
333.3
316 2
342.4
297.9
346.1
322 7
367.4
338 2
368.2
347 5
146.9
109 2
161.1
109.1
165.9
115 8
160. 5
108 9
160.5
102 8
157.4
108 9
162. 5
111.6
161.5
115.4
Government purchases of goods and services
473.8
534.7
516.8
530.0
533.5
558.6
576.5
577.4
281.8
290.0
290.1
291.9
288.2
289.8
293.6
289.5
167.9
111.2
56.7
305 9
198.9
131 7
67.2
335 8
190.0
125 0
64.9
326 8
198.7
128 7
70 0
331 3
194.9
131 4
63 5
338 6
212.0
141 6
70.4
346 6
221.6
145 2
76 4
354 9
219. 5
148 2
71 3
357 9
101.7
67 1
34 6
180 1
108. 1
70 9
37.2
180 9
107.6
69 9
37 7
182 5
110.7
70 9
39 7
181 2
106. 9
70 9
35 9
181 3
107.4
71 9
35 4
182 4
111.2
72 1
39.0
182 5
108.7
72.6
36.1
180. 7
Exports . .
Imports
Federal
National defense
Nondefense
State and local
. Table 1.3-1.4.—'Gross National Product by Major Type of Product in Current and Constant Dollars
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
2,413.9 2,626.1 2,571.7 2 564.8 2,637.3 2 730 6 2 853 0 2 885 8 1 483.0 1 480 7 1 501.9 1 463 3 1 471.9 1 485 6 1 516.4 1, 510. 4
_
2, 396. 4 2, 632. 0 2, 569. 1 2, 557. 4 2, 653. 4 2 748 0 2 848 5 2 862 5 1 472 9 1 483 6 1 502 8 1 462 0 1 476.9 1, 492. 7 1 517.8 1, 499. 6
10.8
—5 9
25
17.5
—1 4
7 4 —16 0 —17 4
45
23 3
10 2
—2 9
1 3 —5 0
—7 2
— 9
1,055.9 1,130 4 1 116 9 1 106.4 1 129 4 1 169 0 1 247 5 1 257 0
674 5
665 2
682 1
658 1
657.5
662 9
688.9
686.3
1, 038. 5 1. 136. 3 1 114 4 1 099 0 1 145 4 1 186 3 1 243 11 123 7
17.5
2.5
—5.9
7.4 —16.0 —17 4
4.5
23.3
664 3
10.2
668 1
—2.9
683 0
656 8
662 4
—5.0
670 1
—7.2
69 .3
—1.4
675.5
10.8
296 9
290 2
279 4
281 3
—1.9
385.7
386 8
—1.1
290 6
295 2
—4.6
391.4
387 7
37
270 8
270 1
281 8
281.5
381.1
388.6
—7.5
.3
289 3
292. 5
—3.1
399.6
397.9
288.6
279. 7
.6
274 6
278 4
—3.8
382.9
384.0
—1.1
1.7
8.9
397.7
395.8
1.9
695.7
119 8
690.7
129.1
690.6
114.6
699.9
114.5
701.7
121.0
703.6
123.9
704.7
119.4
451 2
439.7
11.5
604.7
598.8
458 6
462.6
—4.0
671.9
673.7
—1.8
456 4
468.2
—11.8
660.5
646.2
14.3
444 6
441. 3
3.3
456 5
464.9
—8.4
672.9
680 5
—7.7
476 7
476 0
.7
692.2
501 4
505 5
—4.2
746.1
737 5
516 9
498 3
18.5
740.1
735 3
—.9
1.3
.7
4.8
6.7
377.5
374 1
3.5
Services
Structures
1,097.2 1,229.6 1,178.6 1,205.6 1,249.0 1,285.3 1, 317. 1 1,344.7
266 0
288 4
260.8
276.2
252.8
258.9
276 4
284 1
678.0
130.6
Addenda:
Gross domestic purchases l
Final sales to domestic purchasers L.
2,400 5 2,602.8 2,563 5 2 547 7 2,592 8 2,707 3 2 823 8 2 865 1 1 445 3 1,428 7 1 451 8 1 411 6 1 414 3 1,437.1 1,465.6 1, 464. 2
2, 383. 0 2, 608. 7 2, 560. 9 2, 540. 3 2, 608. 8 2, 724. 6 2, 819. 3 2, 841. 8 1, 435. 1 1,431.7 1, 452. 7 1, 410. 4 1, 419. 2 1,444.2 1,466.9 1,453.5
6.0
661.8
657.7
4.1
710 3
—18.1
8.6
387. 3
386 7
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
354-680 0 - 8 1 - 2
SURVEY OF CUKKENT BUSINESS
10
September 1981
Table 1.5-1.6.—Gross National Product by Sector in Current and Constant Dollars
1980
I
1980
1979
1981
IV
III
II
1980
II '
I
1979
1980
I
II
Seasonally adjusted at annual rates
2,520.2
2,176.9
2, 106. 4
1,903.6
202.8
6T.7
2.8
82.1
6.6
75.5
261.2
79.6
181.6
51.5
1980
I
II
2,682.0
2, 311. 4
2, 248. 6
2,025.3
223.3
69.4
-6.6
90.4
6.9
83.5
280.3
87.1
193.3
48.6
1,510.4
1,471.9 1,485.6 1,516.4
1,483.8
1,281.8
1,248.9
1, 112. 1
136.8
36.5
-3.6
46.9
3.3
43.5
155.2
49.0
106.2
26.6
2,008.4 1,974.1 1,957.3 2,014.0 2,088.0 2,191.0 2,212.8 1,131.0 1,119.5 1, 141. 6 1,103.5 1, 109. 4 1,123.3 1,150.8
1,145.0
2,576.5
2,221.2
2, 153. 7
1,940.9
212.8
68.1
85.9
6.7
79.2
269.3
81.9
187.4
49.7
2,516.7
2,166.4
2, 100. 8
1, 891. 7
209.1
67.5
-1.9
84.4
6.7
77.7
265.9
80.5
185.4
48.1
2,800.7
2,420.8
2, 350. 1
2, 120. 2
229.9
67.3
3.4
93.9
7.0
86.9
285.9
87.9
198.0
52.3
2,835.5
2,449.2
2,383.7
2,147.3
236.4
72.4
-6.9
96.4
6.9
89.5
289.9
88.2
201.6
50.4
1,455.9
1,258.3
1,222.1
1,094.8
127.3
34.9
1.4
43.7
3.5
40.2
153.9
49.0
104.9
27.2
1,452.4 1,471.5
1,251.8 1, 271. 9
1,216.8 1,233.3
1,084.5 1,103.0
132.3
130.3
37.0
35.3
-.4,
1.6
45.4
44.8
3.5
3.5
41.3
41.9
155.2
154.8
49.2
49.0
106.0
105.8
30.4
28.3
1,435.5
1,235.2
1,198.5
1,066.8
131.7
37.8
I i
44.9
3.5
41.5
155.4
49.4
105.9
27.8
1,443.4
1,242.3
1,207.6
1,074.6
133.0
33.1
1.7
45.6
3.4
42.1
155.5
49.4
106.1
28.5
III
IV
I
1,458.9
1,257.5
1,227.9
1,093.7
134.2
33.2
-3.6
46.1
3.4
42.7
155.3
48.9
106.3
26.7
1981
1980
1981
II'
1979
1980
I
II
III
IV
I
II'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Table 1.7.—Relation of Gross National Product, Net National
Product, National Income, and Personal Income
Gross national product
._ 2,413.9 2,626.1 2,571.7 2,564.8 2,637.3 2,730.6 2,853.0 2, 885. 8
Less: Capital
consumption
allowances
with
CCAdj253.6 287.3 274.6 283.7 291.8 298.9 306.5 316.7
Capital consumption
allowances..
199.2 224.1 215.6 220.3 226.9 233. 7 243.2 251.9
Less: CCAdj...
-54.5 -63.1 -59.0 -63.4 -64.9 -65.2 -63.3 —64.9
A KCO i
Equals: Net national product. .2,160.3 2,338.9 2,297.1 2,281.1 2,345.5 2,431.7 2,546.4 2,569.1
Less: Indirect business tax
and nontax liability... 188.4 212.3 198.9 206.3 215.8 228.0 245.5 OAQ 4
Business transfer pay115
10.5
11.2
ments
9.4
10.9
10.1 10.3
10.6
6 9
3.4
Statistical discrepancy...
2.2
-.7
2.8 -1.9
3.0 -6.6
Plus: Subsidies less current
surplus of government
5.7
4.6
enterprises
5.4
4.7
3.1
3.1
6.3
3.7
1,963.3 2,121.4 2,088.5 2,070.0 2,122.4 2,204.8 2,291.1 2 320 9
' *
Less: Corporate profits with
IVA and CCAdj
196.8 182.7 200.2 169.3 177.9 183.3 203.0 211.0
190.3
Net interest
143.4 179.8 165.4 175.3 185.3 193.3 200.8
Contributions for social
insurance
187.1 203.7 198.8 199.5 204.1 212.3 233.7 236. 3
Wage accruals less dis0
0
0
bursements
0
-.5
-.2
-.2
.5
Plus: Government
transfer
payments to persons — 239.9 283.8 261.6 270.3 300.1 303.1 308.4 312 7
Personal interest income. 209.6 256.3 239.9 253.6 261.8 269.7 288.7 onn n
Personal dividend in60 2
54.4
58.0
come
48.6
52.4
54.2
55.1 56.1
Business transfer pay11 5
11.2
ments
10.5
10.9
9.4
10.1 10.3
10.6
1,943.8 2,160.2 2,088.2 2,114.5 2,182.1 2,256.2 2,319.8 2 368 5
Equals: Personal income
Billions of 1972 dollars
Table 1.8.—Relation of Gross National Product, Net Natioiiail
Product, and National Income in Constant Dollars
Gross national product
1,483.0 1,480.7 1,501.9 1,463.3 1,471.9 1.485.6 1,516.4
W
Less: Capital consumption allowances with CCAdj. 141.6 147.5 145.9 146.6 147.9 149. 5 151.2
Equals: Net national product. .1,341.4 1,333.2 1,356.0 1,316.6 1,324.0 1,336.1 1,365.2 1 358 0
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies plus current surplus of government
enterprises
143.5 149. C 147.5 147.2 149.2 151.9 153.2 152.9
Statistical discrepancy
1.4
1.6 -1.1
1.8
1.7 -3.6
Equals: National income
1,196.5 l,184.f 1,206.9 1,170.6 1,173.1 1,187.8 1,210.3 1,208.7
II '
1,488.4
1,286.4
1,250.9
1, 115. 4
135.5
33.6
1.8
46.7
3.4
43.2
155.3
49.0
106.4
28.0
1980
1979
2,586.9
2,230.0
2, 159. 1
1, 943. 1
216.0
67.9
3.0
86.9
6.7
80.2
269.9
80.7
189.3
50.5
I
Billions of 1972 dollars
2,413.9 2,626.1 2,571.7 2,564.8 2,637.3 2,730.6 2,853.0 2,885.8 1,483.0 1,480.7 1,501.9 1,463.3
Gross national product
IV
III
Seasonally adjusted at annual rates
Billions of dollars
Gross domestic product—
2,370.1
Business
2,046.3
Nonfarm
1, 974. 1
Nonfarm less housing
1, 786. 0
Housing
188.1
Farm
70.0
2.2
Statistical discrepancy
Households and institutions .
75.7
6.4
Private households
.
.
69.3
Nonprofit institutions
.__«_
Government
248.1
75.8
Federal- .
172.3
State and local
__
43.8
Rest of the world
Addendum:
Gross domestic business product less housing. .. 1,858.2
1981
Table 1.11.—National Income by Type of Income
National income
1,963.3 2,121.4 2,088.5 2,070.0 2,122.4 2,204.8 2,291.1 2,320.9
Compensation of employees. . .1,460.9 1,5%. 5 1,558.0 1,569.0 1,597.4 1,661.8 1,722.4 1,752.0
1,235.9 1,343.6 1,314.5 1,320.4 1,342.3 1,397.3 1,442.9 1,467.0
Wages and salaries
Government and govern235.9 253.6 246.7 250.5 253.9 263.3 267.1 270.5
ment enterprises
1,000.0 1,090.0 1,067.9 1,069.9 1,088.4 1,134.0 1,175.7 1, 196. 4
Other
vwioi. . -. ..
Supplements to wages and
225.6 252.9 243.5 248.6 255.0 264.5 279.5 285.1
salaries
- - -' - Employer contributions
106.4 115.8 112.6
113.6 116.0 121.0 131.5 133.2
for social insurance
118.6 137.1 130.9 135.1 139.1 143.5 148.0 151.8
Other labor income
Proprietors' income with IVA
131.6 130.6 133.7 124.9 129.7 134.0 132. 1 134.1
and
CCAdj
ana^Aaj...
18.9
21.7
23.4
30.8
23.3 22.1 22.5
25.7
Farm
Proprietors' income with
29.6
29.3
26.1
30.3
36.6
29.0
30.2
32.3
IVA
-5.8 -6.9 -6.5 -6.9 -6.9 -7.2 -7.2 -7.6
CCAdj
V^AUJ
Nonfarm
- _ . _ _ . - . 100.7 107.2 107.9 101.6 107.6 111.6 113.2 112.5
105.2 112.7 114.8 105.5 113.1 117.5 117.4 115.7
Proprietors' income
-3.4 -3.7
-5.3 -2.0 -3.5 -4.0 -2.5 -1.2
IVA
-1.7 -2.0
-1.0
-1.9
-1.6
-1.9
-2.0 -2.0
CCAdj
-Rental income of persons with
33.3
32.7
30.5
32.4
31.8
32.0
31.5
CC Adi
31.2
69.3
68.2
66.4
58.9
64.9
64.5
65.9
62.9
Rental income of persons
-28.3 -33.1 -31.6 -33.0 -33.9 -33.9 -35.5 -35.9
CGAdj
Corporate profits with IVA
«">d CCAdj
Corporate profits with IVA.
Profits before tax
Profits tax liability
Profits after tax . . ...
Dividends
Undistributed profits.
CCAdj
196.8
212.7
182.7
199.8
200.2
215.6
169.3
186.9
177.9
183.3
203.-0
190.3
195.9
201.0
217.7
205.1
255.4 245.5 277.1 217.9 237.6 249.5 257.0 229.0
78.5
85.2
71.5
87.6
94.2
82.3
76.4
87.7
167.8 163.2 182.9 146.5 159.1 164.3 169.2 152.7
50.2
57.7
56.0
55.7
56.7
62.0
53.9
59.6
117. 6 107.2 128.9
90.6
90.7 102.4 106.6 109.6
-42.6 -45.7 -61.4 -31.1 —41.7 -48.4 -39.2 -24.0
-15.9
-17.2 -15.4 -17.6 -17.9 -17.8
-14.7 -14.7
Net interest
143.4
179.8
165.4
175.3
185.3
193.3
200.8
211.0
Addenda:
Corporate profits after tax
with IVA and CCAdj—
Dividends
Undistributed profits with
IVA and CCAdj
109.2
50.2
100.3
56.0
106.0
53.9
97.8
55.7
99.5
56.7
98.1
57.7
115.3
59.6
114.0
62.0
59.1
44.3
52.1
42.1
42.8
40.4
55.7
52.0
SURVEY OF CURRENT BUSINESS
September 1981
11
Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfinancial
Corporate Business in Current and Constant Dollars
1979
1980
I
II
1980
1981
1980
I
IV
III
1979
II"
I
1980
II
1981
I
IV
II
II'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Net domestic product
Gross domestic product
Indirect business tax and
of corporate business. . 1,494.9 1,616.5 1,584.0 1,576.7 1,617.5 1,688.0 1,774.8 1,797.1
nontax liability plus business transfer payments
Capital consumption allowless subsidies
155.4 175.4 167.1 173.0 178.4 183.2 187.5 194.6
ances with CCAdj
Domestic income
Compensation of employNet domestic product
1,339.5 1,441.1 1,416.9 1,403.7 1,439.0 1,504.8 1,587.3 1,602.5
ees
Wages and salaries __ _ _
Indirect business tax and
Supplements to wages
nontax liability plus busiand salaries..
ness transfer payments
Corporate profits with
139.6 159.3 148.1 154.4 162.4 172.5 187.2 190.2
less subsidies
IVA and CCAdj
Domestic income—
.. 1,199.8 1,281.8 1,268.9 1,249.3 1,276.6 1,332.4 1,400.1 1, 412. 2
Profits
before tax —
Compensation of employProfits tax liability
1,011.5 1, 103. 11,079.9 1,083.0 1,101.7 1,147.8 1, 193. 3 1, 214. 0
ees
Profits
after tax...
Wages and salaries
845.9 917.9 901.1 900.8 915.2 954.6 989.1 1,006.0
Dividends
Supplements to wages
Undistributed profand salaries
165.6 185.2 178.8 182.2 186.4 193.2 204.1 208.0
its
Corporate profits with
167.6
IVA .
.IVA and CCAdj
166.5 151.5 163.6 140.0 147.0 155.6 177.6
CCAdj
Net interest
Profits before tax
225.0 214.4 240.4 188.6 206.7 221.8 231.5 206.2
76.4
Profits tax liability
87.6 82.3 94.2 71.5 78.5 85.2 87.7
Profits after tax
137.4 132.0 146.2 117.1 128.2 136.6 143.8 129.9
45.5
Dividends
34.9 37.4 34.3 37.9 37.9 39.5 43.7
84.3
Undistributed profits. 102.5 94.6 112.0 79.3 90.3 97.1 100.1
IVA
-42.6 -45.7 -61.4 -31.1 -41.7 -48.4 -39.2 -24.0
Gross domestic product
CCAdj
-15.9 -17.2 -15.4 -17.6 -17.9 -17.8 -14.7 -14.7
30.7
of nonfinancial corpoNet interest
21.9 27.2 25.3 26.3 27.9 29.0 29.3
rate business Gross domestic product
Capital consumption allowof financial corporate
80.8
ances with CCAdj
77.9 81.3 82.0 80.4 79.7 83.3 84.7
business
1,269.5 1,369.3 1,343.9 1,332.7 1,369.1 1,431.7 1,513.1 1,532.6
Net domestic product
Gross domestic product
Indirect business tax and
of nonfinancial corponontax liability plus busi1,417.0 1,535.2 1,502.1 1,496.3 1,537.7 1,604.7 1,690.1 1,716.3
rate business
ness transfer payments
less subsidies
^
Capital consumption allowDomestic income.
147.5 165.9 158.2 163.6 168.6 173.0 177. 1 183.7
ances with CCAdj
1980
I
II
954.0 1,037.2 1,017.3 1,018.0 1,034.8 1,078.5 1,121.3 1,140.6
798.9 864.2 849.9 847.9 860.9 898.2 930.7 946.5
155.2
172.9
167.4
170.1 173.9
180.4
190. 5
136.7
123.6
132.6
112.5
121.2
128.2
152.1
146.5
193.4
69.7
123.7
37.3
183.8 207.2
63.1 74.3
120.6 132.9
40.4 36.9
158.6
52.0
106.6
41.1
177.9
60.3
117.6
40.8
191.3
65.9
125.4
42.7
202.9
68.1
134.8
46.9
181.9
57.8
124.1
48.8
III
IV
I
1
Billions of 1972 dollars
873.3
867.2
878.2
853.2
860.4
876.9
901.0
901.2
84.6
88.1
87.1
87.6
88.5
89.4
90.4
91.2
788.7
779.0
791.2
765.7
771.9
787.5
810.6
810.0
92.7
696.0
95.4
683.6
94.9
696.2
94.1 95.3 97.2
671.6 676.5 690.3
97.5 96.7
713.1 713.3
1981
1980
IP
1979
194.1
87.9 75.4
86.3 80.3 96.0 65.5 76.8 82.7
-42.6 -45.7 -61.4 -31.1 -41.7 -48.4 -39.2 -24.0
-14.1 -14.4 -13.1 -14.9 -15.0 -14.7 -11.6 -11.4
45.2 56.1 52.3 54.4 57.6 59.9 60.5 63.4
1981
1980
1979
133.6 152.5 141.7 147.7 155.4 165.1 179.2 182.1
1,135.9 1,216.9 1,202.3 1,185.0 1,213.6 1,266.6 1, 333. 9 1, 350. 5
1980
I
II
III
IV
I
1 II"
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of dollars
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
Auto output
- _
Final sales
Personal consumption expenditures
New autos — Jl
1
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
__
Imports
-.
Government purchases
Change in business inventories
68.0
602
69 2
62 2
61 8
Addenda:
Domestic output of new autos l
Sales of imported new autos *
53.6
54 3
68 8
68 1
73 6
46 8
38 6
48 3
43 7
35.0
8.7
91
14 2
-5.1
—5 0
31
81
.5
—5 8
—5.2
6
o
46.2
15.6
12 4
21 2
-8.8
—12 9
40
16 8
.8
—1 9
—1.3
—.6
73 8
71 6
.54.8
16.9
12 9
22 2
-9.4
11 5
4.8
16 3
.8
—9.5
—8.3
—1.2
51 5
50 7
36.8
13.9
11 0
18 3
-7.3
—10 9
3.9
14 8
.8
2.0
3.4
—1.4
57 8
58 7
44.3
14.4
13 3
21 9
-8.7
—15 1
34
18 4
.8
—3 5
—3.8
4
65 5
66 1
48.8
17.3
12 5
22 4
-9.9
—13 9
39
17 8
.8
32
3.5
— 3
77 9
75 6
57.4
18.2
13 7
24 7
-11.0
—12 2
41
16 3
.8
—9 8
—10.8
10
62 7
63 3
44.3
19.0
12 9
22 3
-9.4
—14 2
40
18 2
7
10 9
12 5
—1 6
47 3
41 3
33.1
8.2
99
14 9
-5.0
—4 4
31
76
.6
— 5
—.4
1
39 9
36 5
28.6
7.8
85
13 2
-4.7
—5 5
24
80
.5
—1 3
—.9
— 3
57.8
19.4
48.8
21.7
51.6
24.3
43.0
18.2
45.3
21.2
55.4
23.2
52.2
26.3
59.1
23.5
38.7
12.9
30.2
13.5
65 3
49.4
15.9
13 2
22 2
-9.1
10 1
4.7
14 8
.8
—1 2
—1.0
Used ...
64.4
34 6
42.8
42 8
44 3
33 5
30 4
22! 9
36 8
34 3
26.9
40 9
37 5
29.7
48 5
42 8
35.0
73
11 4
-4.1
—4 6
24
71
.5
10
1.8
— 8
86
13 4
-4.8
—6 6
1.8
84
.5
—2.2
—2.4
.2
89
13 6
-4.7
—6 0
2.4
83
.5
1.9
2.1
—.1
99
15 0
-5.0
47
2.5
72
.5
—5.7
-6.2
.4
37 8
34 2
26.1
8.1
88
13 0
-4.3
56
2.4
80
.4
66
7.3
— 7
33.0
15.6
26.8
11.4
27.3
12.9
33.7
141
31.8
16.0
34.8
13.8
42 5
34 6
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Truck output 1
Final sales
Personal consumption expenditures..
Producers' durable equipment
Net exports - _
Exports
Imports
Government purchases
Change in business inventories
__
37 8
25 7
28.0
23.8
23 2
27 7
27 0
28 5
22 3
13 8
15 7
12 8
12.2
14.3
13.6
13.9
37.7
11.4
23 7
—.4
3.3
38
30
.1
27.8
7.9
17 6
-1.1
3.1
41
3.3
30.9
9.1
19.4
—.8
3.0
3.7
3.2
26.1
7.3
16 1
—.7
2.9
3.5
3.3
27.5
7.9
18 0
— 1.9
3.1
50
3.4
27.6
7.8
16 9
—.7
3.6
43
3.6
14 1
4.5
84
—.6
1.5
21
1.7
14.5
4.8
9.1
—1.2
1.6
2.8
1.7
13.7
4.5
8.2
—.7
1.6
2.3
1.7
13.9
4.7
8.0
-.6
1.7
2.3
1.7
13.7
4.8
8.0
—.8
1.5
2.4
1.7
—2.2
—4.3
22.3
7.6
13 3
—.4
1.9
23
1.7
.1
17 3
5.8
10 4
— 6
1.6
22
1.7
—2.9
28.1
8.2
17 4
1i
3.4
45
37
4
14.9
4.9
91
— 8
1.6
23
17
—2 1
26.8
7.5
16 8
—1.0
3.3
4.3
3.5
9
—1 2
—1.6
—1.3
—2.2
.5
-.3
.2
Tablt U4-U5:
1. Consists of final sales and change hi business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
.6
Table 1.16-1.17:
1. Includes new trucks only.
SUEVEY OF CUEEENT BUSINESS
12
1980
1979
1980
I
1980
1981
III
II
September 1981
IV
I
II *
1980
1979
Seasonally adjusted at annual rates
Personal income.
,943.8 ,160.2 2,088.2 2, 114.5 2,182.1 2,256.2 2,319.8 2,368.5
,236.1 ,343.7 ,314.7 1,320.4 1,341.8 1,397.8 1,442.9 1,467.0
456.0
343. 2
323.2
290.8
460.1
346.7
329.2
298, 7
484.0
364.0
34Q.6
310.0
501.3
377.4
351.9
322.5
508.1
386.7
357.8
330.5
236.1
253.6 246.8
250.5 253.9
263.3
267.1 270.5
Other labor income
118.6
137.1
130.9
135.1
139.1
143.5
148.0
151.8
Proprietors' income with IVA
and CCAdj
131.6
130.6
133.7
124.9
129.7
134.0
132.1
134.1
30.8
100.7
23.4
107.2
25.7
107.9
23.3
101.6
22.1
107.6
22.5
111.6
18.9
113.2
21.7
112.5
Rental income of persons
with CCAdj
30.5
31.8
31.2
31.5
32.0
32.4
32.7
33.3
Personal dividend income
48.6
54.4
52.4
54.2
55.1
56.1
58.0
60.2
Farm
Nonfarm
Personal interest income
Transfer payments, ...»
-
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefitsVeterans benefits
Government
employees
retirement benefits
Other transfer payments...
Aid to families with dependent children
Other
Less: Personal contributions
for social insurance..
Less: Personal tax and nontax
payments
209.6
256.3 239.9 253.6 261.8
269.7
288.7
300.9
249.4
294.2
271.7
280.7
310.7
313.9
319.6
324.2
131.8
153.8
142.0
144.7
163.2
165.3
169.8
172.0
9.8
14.4
16.0
15.0
11.4
14.8
16.0
14.6
19.0
14.9
17.5
15.5
15.6
15.9
15.6
15.9
37.0
56.4
42.8
66.7
40.2
63.3
42.3
63.0
43.1
70.5
45.7
69.9
46.7
71.7
48.5
72.3
11.0
45.4
12.4
54.3
11.7
51.6
12.0
51.0
12.8
57.7
13.1
56.8
13.3
58.3
13.6
58.7
80.6
87.9
86.2
85.9
88.1
91.2
102.3
103.1
302.0
338.5 323.1
330.3 341.5
359.2
372.0
382.9
1,555.5 1,720.4 1,678.7 1,674.1 1,729.2 1,799.4 1,858.9 1,879.0
86.2
101.3
86.4
110.0
111.4
97.6
88.9
7,293 8,002 7,785 7,848 8,074 8,299 8 504 8,651
4,493 4,473 4,503 4,435 4,468 4,488 4,511 4,517
1
Population (millions) ...
Personal saving as percentage
of
disposable
personal income
225.1
5.2
227.7
5.6
226.7
49
227.3 228.0 228.6
6.2
6.1
51
229.1
4.6
229.5
5.4
Table 8.14:
NOTE.—In this table interest and dividends received included in receipts; in tables 3.2 and
3.3 interest received and dividends received are netted against expenditures.
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...
95.5
89.9
100.6
77.5
87.0
94.6
105.4
93.4
81.1
35.8
84.6
37.3
83.6
36.8
81.3
35.6
84.6
37.2
88.9
39.8
92.3
40.6
92.4
41.6
602.2
675.7
661.1
664.0
674.2 703.5
726.0
735.3
312.1
98.9
68.4
122.9
16.0
106.9
345.7 336.2 338.4 347.7 360.4 372. 5 377.8
104.8 102.2 102.3 105.3 109.4 113.4 115.8
89.0 89.4 90.9 85.3 90.5 93.5 92.4
136.2 133.3 132.4 136.0 143.3 146.6 149.4
19.8 18.8 19.2 20.7 20.5 20.5 21.0
116.4 114.5 113.1 115.3 122.7 126.1 128.4
696.3 785.2
Housing
Household operation
Electricity and gas
Other
Transportation
Other.
241.9
98.7
47.3
51.3
57.2
298.5
768.4
799.2
824.2
845.8 866.5
272.0 259.8 267.3
111.6 104.2 109.3
55.7 50.0 54.5
56.0 54.2 54.8
64.1 61.4 61.6
337.5 323.7 330.2
275.7
116.1
59.3
56.8
65.8
341.5
285.3
116.9
58.8
58.2
67.5
354.5
293.6 302.1
118.1 123.4
58.4 61.5
59.7 61.9
67.6 67.9
366.5 373.0
749.0
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 gas
Other
Transportation
Other.
930.9
935.1 943.4
919.3
930.8
946.8
960.2
955.1
146.6
135.8
145.4
126.2
132.6
139.1
146.8
137.4
61.7
53.8
62.1
47.0
51.5
54.6
60.6
51.7
59.8
25.1
58.9
23.1
59.6
23.8
57.0
22.2
58.4
22.6
60.7
23.8
62.1
24.1
61.2
24.5
354.6
358.4
361.5
356.6
354.9
360.4
364.5 367.0
176.7
76.6
28.1
73.2
4.7
68.5
181.5
78.0
26.2
72.6
4.2
68.4
183.6
76.9
27.0
73.9
4.2
69.7
182.2
76.7
26.4
71.2
4.1
67.2
180,1
78.3
25.2
71.4
4.3
67.0
179.9
80.1
26.3
74.1
4.2
69.8
182.9
82.8
24.9
74.0
3.7
70.3
185.0
84.0
24.4
73.6
3.6
70.0
429.6
440.9 436.5 436.5
443.3 447.3
448.9
450.7
166. 5
62.1
23.4
38.7
35.1
183.6
168.0
61.4
22.6
38.8
34.8
184.6
169.6
62.4
23.2
39.3
34.5
184.2
159.3
59.6
23.1
. _ 36.5
35.5
175.2
164.2
61.5
23.3
38.3
34.8
180.4
162.1
60.0
22.3
37.7
35.2
179.2
163.5
61.3
23.1
38.2
34.1
177.7
164.8
62.6
24.1
38.4
34.7
181.2
106.6
Addenda:
Disposable personal income:
Total, billions of 1972
dollars
_._ 1,011.5 1,018.4 1,021.0 1,008.2 1,018.5 1,025.8 1,033.3 1,036.8
Per capita:
Current dollars*
1972 dollars J
II «
Billions of 1972 dollars
Personal consumption expen ditures...
1,510.9 1,672.8 1,631.0 1,626.8 1,682.2 1,751.0 1,810.1 1,829.1
Interest paid by consumers
to business
43.7 46.4 46.7 46.3 46.0 46.8 47.8 48.9
Personal transfer payments
to foreigners (net)
_.
1.0
1.0
1.0
1.0
1.0
1.0
1.2
1.6
Equals: Personal saving
I
Personal consumption
1,510.9 1,672.8 1,631.0 1,626.8 1,682.2 1,751.0 1,810.1 1,829.1
expenditures. >
Durable goods.
212.3 211.9 220.9 194.4 208.8 223.3 238.3 227.3
Services .
Equals: Disposable personal
income
1,641.7 1,821.7 1,765.1 1,784.1 1,840.6 1,897.0 1,947.8 1,985.6
Less : Personal outlays
IV
Table 2.2-2.3.—Personal Consumption Expenditures by Major Type
of Product in Current and Constant Dollars
Wage and salary disbursements
461.7
347.9
322.6
283.6
III
Billions of dollars
Table 2.1.—Personal Income and Its Disposition
437.9 465.4
333.4 350.7
303.0 328.9
259.2 295.7
II
Seasonally adjusted at annual rates
Billions of dollars
Commodity-producing industries
Manufacturing..
Distributive industries
Service industries
Government and government enterprises
I
1981
Billions of dollars
Table 3.14.— State and Local Government Social Insurance Funds
Receipts and Expenditures
Receipts
Contributions for social inPersonal contribution
Employer contributions
Government and government enterprises
Other
Interest and dividends received...
Expenditures
Administrative expenses (purchases of goods and services).
Transfer payments to persons.
Surplus or deficit (-)
40.2
45.1
42.9
43.6
46.0
47.8
49.6
51.5
28.1
31.5
29.6
30.2
32.3
33.7
34.8
35.9
7.5
20.7
7.7
23.8
7.5
22.2
7.0
23.2
8.1
24.3
8.4
25.3
8.6
26.3
8.8
27.1
18.3
2.4
21.0
2.8
19.6
2.6
20.5
2.7
21.4
2.8
22.4
2.9
23.2
3.0
24.0
3.2
12.1
13.6
13.3
13.4
13.7
14.1
14.8
15.6
19.2
19.8
16.4
18.2
17.6
17.9
18.3
18.8
.5
15.9
.6
17.6
.5
17.0
.5
17.4
.6
17.8
.6
18.2
.6
18.7
.6
19.2
23.9
26.9
25.3
25.7
27.7
29.0
30.4
31.7
September 1981
SURVEY OF CURRENT BUSINESS
Table 3.2.—Federal Government Receipts and Expenditures
1980
II
I
Table 3.3.—State and Local Government Receipts and Expenditures
1981
1980
1979
IV
HI
1980
II'
I
520.9
540.8
573.2
617.4
621.0
231.4
225.7
5.5
.2
257.8
251. 0
6.6
.2
246.9
240.7
6.0
.2
252.0
245. 2
6.7
.2
259.4
252.3
6.9
.2
272.9
265.9
6.8
.2
283.3
276.8
6.4
.2
293.2
286.0
7.0
.2
Corporate profits tax accruals-
74.6
70.2
80.5
60.9
66.7
72.6
74.6
64.8
Indirect business tax and nontax accruals..
Excise taxes
Customs duties
Nontaxes
29.4
18.6
7.5
3.4
40.6
29.1
7.2
4.4
31.9
20.9
7.2
3.8
38.7
27.9
6.8
4.0
42.9
31.4
7.3
4.2
49.1
36.1
7.3
5.6
60.6
47.8
7.7
5.0
62.6
49.6
8.1
4.9
Contributions for social insurance
159.0
172.2
169.2
169.3
171.8
178.6
198.9
200.4
509.2
602.0
564.7
587.3
615.0
641.1
664.0
668.2
Purchases of goods and services..
. .. _
National defense
Nondefense
167.9
111.2
56.7
198.9
131.7
67.2
190,0
125.0
64.9
198.7
128.7
70.0
194.9
131.4
63.5
212.0
141.6
70.4
221.6
145.2
76.4
219.5
148.2
71.3
Transfer payments. _
To persons
To foreigners
209.1
204.9
4.2
249.8
244.9
4.9
228.9
224.4
4.5
236.0
232.2
3.8
265.3
260.4
4.9
269.0
262.6
6.4
271.9
267.3
4.7
274.8
270.7
4.1
Grants-in-aid to State and
local governments
80.4
88.0
85.5
87.2
87.7
91.8
90.2
89.6
Net interest paid
Interest paid..
To persons and business...
To foreigners
Less: Interest received
42.3
53. 6
42.6
11.1
11.3
53.3
67.5
55.0
12.5
14.2
50.3
63.1
50.9
12.2
12.8
54.4
68.0
56.3
11.7
13.6
53.5
68.2
56.3
11.9
14.8
55.2
70.8
56.7
14.1
15.6
67.7
84.4
68.6
15.8
16.7
70.4
88.0
71.0
17.0
17.6
9.4
9.3
12.0
10.7
10.1
10.0
11.0
10.3
13.7
10.7
13.1
11.6
12.6
11.9
13.9
12.2
-.1
-1.3
-.1
-.6
-3.1
Surplus or deficit (-),
NIPA's...
-14.8
Social insurance funds
Other
0
0
.2 -14.2
-18.1 -47.0
-36.3
I
II'
384.0
372.1
373.9
386.8
403.4
411.7
413.6
Personal tax and nontax receipts.
Income taxes
Nontaxes
Other
70.6
38.8
24.5
7.4
80.7
44.9
27.9
7.9
76.2
41.8
26.7
7.7
78.3
43.0
27.5
7.8
82.1
45.8
28.3
8.0
86.3
49.1
29.0
8.2
88.6
50.4
29.8
8.4
89.7
50.3
30.7
8.6
Corporate profits tax accruals.
13.0
12.2
13.7
10.6
11.7
12.6
13.1
11.6
Indirect business tax and nontax accruals
159.0
Sales taxes..
76.9
Property taxes
64.4
Other
_ . 17.7
171.6
82.9
67.5
21.2
167.0
80.8
66.3
19.9
167.7
79.7
67.2
20.8
173.0
83.4
67.9
21.7
179.0
87.5
68.9
22.6
184.9
91.2
70.3
23.3
186.9
90.9
71.9
24.1
28.1
31.5
29,6
30.2
32.3
33.7
34.8
35.9
80.4
88.0
85.5
87.2
87.7
91.8
90.2
89.6
324.4
355.0
345.4
350.0
358.2
366.3
374.8
377.5
Purchases of goods and
services
305.9
Compensation of employees. 172.3
Other
_
133.6
335.8
187.4
148.4
326.8
181.6
145.2
331.3
185.4
145.9
338.6
189.3
149.3
346.6
193.3
153.3
354.9
198.0
156.9
357.9
201.6
156.2
38.9
37.2
38.1
39.7
40.5
41.2
42.1
-8.8 -10.8 -10.2 -10.6 -11.1 -11.4 -11.8
17.6
18.6
18.0
17.2
17.4
17.7
16.3
30.4
29.5
28.8
25.1 28.4
28.0
27.4
-12.4
19.2
31.6
Contributions for social insurance
Federal grants-in-aid
Expenditures
0
-1.4
0
0
-.7
-1.7
0
0
Net interest paid
Interest paid.
Less: Interest received
Less: Dividends received
-66.5 -74.2
-67.9
1.5
Less: Wage accruals less disbursements...
-46.6 -47.2
.4 -7.8 -27. 1 -22.2 -4.6
-6.1
-36.7 -58.6 -47.1 -45.8 -42.0 -41.1
35.0
Subsidies less current surplus
of government enterprises. -6.3
Subsidies
.3
Less: Current surplus of
government enterprises.
6.7
Surplus or deficit (-),
-61.2
IV
351.2
Receipts
Transfer payments to persons.
0
III
Billions of dollars
528.4
Less: Wage accruals less disbursements
..
II
Billions of dollars
540.8
Subsidies less current surplus
of government enterprises..
Subsidies......
Less: Current surplus of
government enterprises
I
1980
Seasonally adjusted at annual rates
494.4
Expenditures
1979
1981
Seasonally adjusted at annual rates
Personal tax and nontax receipts.
Income taxes
Estate and gift taxes
Nontaxes....
Receipts
13
Social insurance funds...
Other
1.6
1.6
1.6
1.6
1.6
1.6
1.8
-7.4
.4
-7.0
.3
-7.2
.3
-7.5
.4
-7.7
.4
-7.9
.4
-8.2
.4
7.7
7.3
7.6
7.8
8.1
8.3
8.6
-.1
0
—- 2
0
0
0
0
0
26.7
29.1
26.6
23.9
28.6
37.1
36.9
36.1
23.9
2.9
26.9
2.1
25.3
1.3
25.7
-1.7
27.7
.9
29.0
8.1
30.4
6.6
31.7
4.3
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
1980
1979
1980
I
II
1980
1981
III
IV
I
II'
1979
1980
I
II
IV
III
I
II'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of 1972 dollars
Billions of dollars
Government purchases of goods and services
1981
473.8
534.7
516.8
530.0
533.5
558.6
576.5
577.4
281.8
290.0
290.1
291.9
288.2
289.8
293.6
289.5
167.9
111.2
26.8
7.0
74.9
48.8
27.7
21.0
26.2
2.4
198.9
131.7
32.9
10.9
84.7
52.8
30.4
22.4
31.9
3.1
190.0
125.0
31.5
9.8
80.8
51.3
29.3
22.0
29.5
2.9
198.7
128.7
32.3
10.4
83.1
51.4
29.4
21.9
31.8
2.9
194.9
131.4
32.9
10.5
84.1
51.8
29.7
22.1
32.3
3.8
212.0
141.6
34.9
13.1
90.7
56.8
33.2
23.6
33.9
2.9
221.6
145.2
36.3
12.9
93.2
57.4
33.5
23.8
35.9
2.8
219.5
148.2
37.2
13.1
94.9
57.8
33.7
24.2
37.1
3.0
101.7
67.1
16.6
2.4
46.7
32.0
18.8
13.2
14.7
1.4
108.1
70.9
18.4
2.5
48.5
32.1
18.9
13.2
16.4
1.6
107.6
69.9
18.2
2.3
47.8
32.0
18.8
13.2
15.8
1.5
110.7
70.9
18.3
2.5
48.7
32.0
18.8
13.2
16.7
1.5
106.9
70.9
18.0
2.3
48.7
32.2
18.9
13.2
16.5
1.9
107.4
71.9
18.9
2.8
48.8
32.1
19.0
13.1
16.7
1.4
111.2
72.1
18.7
2.7
49.4
32.2
19.0
13.1
17.2
1.4
108.7
72.6
18.7
2.7
49.8
32.3
19.1
13.2
17.5
1.4
Nondefense
_
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
..
56.7
.6
2.0
48.1
27.0
21.0
6.0
67.2
1.5
4.1
55.1
29.1
25.9
6.6
64.9
1.5
4.4
52.3
28.3
24.1
6.7
70.0
1.3
7.8
54.6
29.1
25.4
6.3
63.5
1.5
1i
56.3
28.8
27.5
6.8
70.4
1.6
5.3
57.0
30.3
26.7
6.5
76.4
2.0
9.2
57.6
30.6
27.0
7.7
71.3
1.8
5.4
57.0
30.4
26.5
7.2
34.6
.7
1.1
29.6
17.0
12.6
3.2
37.2
.9
2.0
31.1
17.1
14.0
3.2
37.7
1.0
2.9
30.5
17.0
13.5
3.4
39.7
.8
4.5
31.4
17.5
13.9
3.1
35.9
.9
—.1
31.9
17.2
14.6
3.2
35.4
.9
.8
30.7
16.8
13.9
3.0
39.0
1.0
4.0
30.5
16.8
13.6
3.5
36.1
1.0
2.1
29.8
16.7
13.1
3.2
State and local
Durable goods
Nondurable goods....
Services
Compensation of employees
bther services
.
Structures
305.9
9.8
23.4
232.4
172.3
__ __ 60.1
40.3
335.8
10.6
26.3
253. 7
187.4
66.3
45.3
326.8
10.3
25.0
245.4
181.6
63.8
46.1
331.3
10.5
25.7
250.7
185.4
65.3
44.4
338.6
10.7
26.7
256.3
189.3
67.1
44.9
346.6
10.9
27.8
262.2
193. 3
69.0
45.7
354.9
11.1
28.3
268.5
198.0
70.4
47.1
357.9
11.3
28.8
274.5
201.6
72.8
43.3
180.1
6.2
13.4
140.2
104.9
35.3
20.4
181.9
6.3
13.7
141.4
106.0
35.4
20.5
182.5
6.2
13.5
141.1
105.8
35.3
21.6
181.2
6.3
13.6
141.1
105.9
35.2
20.2
181.3
6.3
13.7
141.4
106.1
35.3
20.0
182.4
6.2
14.0
142.0
106.3
35.6
20.2
182.5
6.2
14.0
141.9
106.4
35.5
20.4
180.7
6.2
14.0
141.9
106.2
35.7
18.6
Federal
....
National defense.
Durable goods
Nondurable goods
Services
.
Compensation of employees
Military...
Civilian
__
Other services
Structures..
_
SURVEY OF CURRENT BUSINESS
14
1980
1979
1980
I
II
September 1981
1981
III
IV
I
1981
1980
II '
1979
1980
I
II
Seasonally adjusted at annual rates
III
IV
I
II'
Seasonally adjusted at annual rates
Billions of dollars
Billions of 1972 dollars
Table 4.1-4.2.—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
282 5
340 9
338.5
334.4
343.5
347 2
368.5
369.3
281.3
339.8
337.3
333.3
342.4
346.1
367.4
368.2
146.9
161.1
165.9
160.5
160.5
157.4
162. 5
161.5
Merchandise ._
Durable goods :
Nondurable goods
176 9
102.9
74.1
218 2
127.7
90.5
214.8
127.0
87.8
213.9
126.3
87.6
222.9
129.9
93.0
221.0
127.5
93.6
236.3
132.5
103.9
234.2
139.4
94.8
82.8
50. 5
32.3
92.2
5.56
36.6
94.1
58.1
36.0
92.1
55.9
36.2
93.5
55.7
37.8
89.0
52.5
36.4
92.4
52.9
39.5
91.0
54.3
36.7
Services...
Factor income 1
Other. - ..
104.4
66 6
37 8
11
121.6
79 5
42 1
122.5
83 0
39 5
119.5
76 3
43.2
125.0
80 7
44.3
131.1
87.1
43.9
134.0
88.7
45.4
64.1
41.3
22.8
68.9
45.4
23.5
71.8
49.0
22.8
68.4
45.1
23.3
67.0
43.1
23.9
68.4
44.4
24.1
70.1
46.7
23.4
70.5
46.9
23.7
1 I
11
119.4
78 1
41 3
1i
1.1
1.1
1.1
1.1
282.5
340 9
338.5
334.4
343.5
347.2
368.5
369.3
267 9
316 5
329 1
316 °
338.2
347.5
109.2
109.1
115.8
108.9
102.8
108.9
111.6
115.4
245 9
112 1
133.8
257 5
115 7
141.8
245 6
107 9
137.8
297.9
231 5
108.7
122.8
322.7
208 9
99 0
109.9
248.8
116.0
132.9
259.1
116.4
142.7
265.3
123.3
142.0
76.9
47.2
29.7
74.0
47.6
26.4
78.8
50.3
28.5
73.4
46.8
26.6
70.5
45.8
24.6
73.4
47.5
25.8
74.5
47.7
26.8
77.3
50.6
26.7
59.0
22 8
36 2
70.6
29 9
40 7
71 6
31 5
40 0
70.5
29 9
40 6
66.4
25 9
40 6
73.9
32 2
41.7
79.1
34.9
44.2
82.2
38.3
43.8
32.3
14.1
18.1
35.1
17.0
18.1
37.0
18.6
18.4
35.5
17.3
18.2
32.4
14.6
17.8
35.5
17.7
17.8
37.1
18.7
18.4
38.1
20.3
17.8
52
10
4.2
60
12
49
55
10
45
48
10
3g
59
10
4.9
80
1.6
6.4
5.7
1.0
4.7
51
1.0
4.1
11 1
12 5
12 2
11 7
11 9
14 1
15.8
17.0
—1.7
5.9
—8.3
1.7
27.8
2.3
8.8
-.2
Receipts from foreigners
Exports of goods and services
Capital grants received by the United States (net)
Payments to foreigners
Imports of goods and services .
Merchandise
Durable goodsNondurable goods
Services
Factor income '
Other
Transfer payments (net)
From persons (net)
From government (net)
Interest paid by government to foreigners
Net foreign investment...
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
176.9
218 2
214.8
213.9
222.9
221 0
236.3
234.2
82.8
92.2
94.1
92.1
93.5
89.0
92.4
Foods, feeds, and beverages
29 8
35 9
34 2
32 1
38 4
38 8
44 9
38.8
13.4
15.3
14.9
14.5
16.4
15.2
17.1
15.]
Industrial supplies and materials
Durable goods
Nondurable goods __
52.6
17 9
34 6
67.1
24 3
42 8
66.5
25 5
41 0
70.7
26 4
44 3
65.9
23 3
42.7
65.2
22 2
43.0
67.6
22 1
45.5
62.9
21 5
41.4
20.9
7.1
13.8
23.7
8.6
15.1
23.3
9.0
14.4
25.0
9.3
15.7
23.5
8.3
15.2
23.0
7.8
15.2
23.1
7.6
15.5
21. <
34.
Merchandise exports ._
91. (
7.;
14.]
Capital goods, except autos.
58 2
73 5
68 0
73 0
77 6
75 5
79 1
83 4
30.8
34.7
34.7
35.2
35.6
33.1
33.3
Autos
17 4
16 9
17 2
15 6
16 5
18 1
18 5
20 8
8.1
6.8
7.4
6.4
6.5
6.8
6.8
7.,
Consumer goods
Durable goods
Nondurable goods .. _
12.6
62
65
16 5
88
77
18.8
11 1
76
15.1
77
74
16.0
83
7.7
16.1
80
8.1
16.6
79
8.6
16.4
7.8
8.6
6.7
3.0
3.7
8.3
3.8
4.5
9.3
4.9
4.5
7.8
3.4
4.5
7.9
3.6
4.4
7.9
3.4
4.6
8.3
3.3
5.0
8.
3.
5.
6.3
3.2
3.2
8.3
4.2
42
10.1
5.1
5.1
7.5
3.7
3.7
8.4
4.2
4.2
7.3
3. 7
3.7
9.7
4.8
4.8
12.0
6.0
6.0
3.0
1.5
1.5
3.5
1.8
1.8
4.4
2.2
2.2
3.2
1.6
1.6
3.5
1.8
1.8
3.0
1.5
1.5
3.8
1.9
1.9
4.
2.
2.
Other
Durable goods
Nondurable goods
»
Merchandise imports
208.9
245.9
257.5
245.6
231.5
248.8
259.1
265.3
76.9
74.0
78.8
73.4
70.5
73.4
74.5
77.
Foods, feeds, and beverages
17.4
18.2
17.8
17.5
18.2
19.5
20.5
18.7
7.6
6.7
6.8
6.5
6.6
7.0
7.4
7.
Industrial supplies and .materials, excluding
petroleum
^_
Durable goods
__'
Nondurable goods
47.4
28.7
18 6
52.1
31.2
20 9
57.1
35.3
21 7
52.1
30.6
21 5
47.5
27.6
19 9
51.6
31.2
20.4
55.4
32.1
23 3
57.4
35.3
22.0
19.4
11.7
7.6
17.3
10.2
7.1
19.2
11.6
7.6
17.4
10. 1
7.3
15.6
8.9
6.7
16.9
10.0
6.9
18.4
10.6
7.8
19.
11.
7.
Petroleum and products..
60 0
79 1
84 0
69.1
76.8
82.8
84.3
8.5
6.9
8.2
7.2
5.8
6.2
6.3
6.
29 5
30.0
31.2
32.0
32.1
13.8
14.7
15. 2
14.2
14.4
14.8
15.3
16.
25 0
28 1
28 9
27.0
30.6
11.0
10.9
11.0
10.7
11.2
10.8
9.8
10.
15.2
10.5
4.7
15.2
10.7
4.5
15.7
11.2
4.4
16.
11.
5.
Capital goods, except autos.
24.6
30 1
86 4
29.7
Autos
25 6
27 1
26 3
Consumer goods
Durable goods
Nondurable goods
_
Other.
_.
_
Durable goods
Nondurable goods . .. .
Addenda:
Exports:
Agricultural products
Nonagricultural products _
Imports of nonpetroleum products .
30.6
18 4
12 2
34.4
21 2
13 1
34.2
21 4
12 8
34.1
21 0
13 1
34.3
20 8
13 5
34.8
21 7
13 1
37.1
23 2
13.9
36.9
22.6
14.3
15.0
9.9
5.1
15.5
10.9
4.7
15.8
11.2
4.6
15.9
11.1
4.8
3.5
1.8
1.8
4.9
2.5
2.5
6.1
3.0
3.0
3.5
1.7
1.7
4.2
2.1
2.1
6.0
3.0
3.0
4.3
2.1
2.1
5.3
2.6
2.6
1.6
.8
.8
2.0
1.0
1.0
2.5
1.3
1.3
1.4
.7
.7
1.7
.8
.8
2.4
1.2
1.2
1.7
.8
.8
2.
l.(
l.(
35.4
141.5
148.9
42 3
175.9
166.8
41.5
173.3
171.1
38.9
174.9
161.7
43.8
179.1
162.4
44.8
176.2
172.0
51.5
184.8
176.3
44.9
189.3
181.0
15.9
66.9
68.4
18.0
74.1
67.1
18.1
76.0
70.6
17.6
74.5
66.1
18.7
74.8
64.7
17.7
71.3
67.1
19.7
72.7
68.2
17. (
73.^
71. (
Table 4-1-4.2:
1. Equals rest-of-the-world production as shown in tables 1.5-1.6.
SURVEY OF CURRENT BUSINESS
September 1981
Table 5.1.—Gross Saving and Investment
15
Table 5.10-5.11.—Inventories and Final Sales of Business
in Current and Constant Dollars
1981
1980
1980
1979
1980
II
I
III
IV
I
1981
II'
I
III
II
IV
I
II'
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
Billions of dollars
Billions of dollars
Gross saving. .
Gross private saving.
Personal saving
Undistributed
corporate
profits with IVA and
CCAdj
Undistributed profits
IVA
CCAdj
Capital consumption allowances with CCAdj:
Corporate
Noncorporate..-.
Wage accruals less disbursements
Government surplus or deficit
(-), NIPA's
Federal
State and local
Capital grants received by the
United States (net)
Gross investment
Gross private domestic investment
Net foreign in vestment
Statistical discrepancy...
411.9 401.9
404.5
394.5
402.0
406.7
442.6
465.3
398.9
86.2
413.0
86.4
435.9
110.0
446.5
111.4
436.4
97.6
451.1
88.9
475.3
106.6
432.9
101.3
59.1 44.3
117.6 107.2
42 6 -45.7
15 9 -17.2
155.4
98.2
175.4
111.8
0
0
52.1 42.1 42.8 40.4 55.7 52.0
128.9 90.7 102.4 106.6 109.6 90.6
61 4 -31.1 -41.7 48.4 -39.2 -24.0
14 7
15 4 -17.6
17 9 ^17.8 14 7
167.1 173.0
107.4 110.7
0
0
178.4
113.4
183.2
115.8
187.5
119.0
194.6
122.1
.5
-.5
0
0
11.9 -32.1
-9.6 -42.5 -45.6 -30.8
9 7 -11.2
61 2 -36.3 -66.5
14 8
74 2 -67.9 -46.6 -47.2
26.7
29.1 26.6
23.9 28.6 37.1 36.9 36.1
1.1
1.1
1.1
1.1
1.1
414.1
401.2
407.3
392.5
405.0
415.8
-1.7
395.3 415.6 390.9
5.9 -8.3
1.7
2.2
-.7
2.8
-1.9
1.1
1.1
400.1 446.0
458.3
1.1
377.1 • 397. 7 437.1 458.6
2.3
8.8 -.2
27.8
3.0
-6.6
3.4
-6.9
724.5
740.4
765.8
785.4
796.9
811.3
77.8
646.6
369.5
277.1
81.8
658.5
374.6
283.9
92.6
673.2
379.9
293.4
92.6
692.8
393.7
299.1
86.9
710.0
397.8
312.2
86.7
724.6
408.8
315.8
Manufacturing
Durable goods
Nondurable goods -
325.0
210.0
115.0
331.2
212.6
118.6
335.3
215.5
119. 8
344.2
222.5
121.8
355.2
226.9
128.2
363.2
231.8
131.3
Wholesale trade
Durable goods
Nondurable goods _ _
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerch ant wholesalers __
Durable goods
Nondurable goods
138.5
84.4
54.1
108.2
69.7
38.5
30.3
14.7
15.6
142.0
87.0
55.0
111.6
72.2
39.4
30.4
14.8
15.6
146.3
89.0
57.3
116.7
74.0
42.7
29.6
15.0
14.6
151.7
92.6
59.1
120.7
77.2
43.5
31.0
15.4
15.6
155.7
94.3
61.4
121.8
78.2
43.5
33.9
16.1
17.8
158.8
97.6
61.2
125.3
81.2
44.1
33.5
16.4
17.1
Ketail trade
Durable goods
Nondurable goods
Other
— .—
122.8
58.3
64.5
60.3
124.0
57.9
66.2
61.3
127.3
58.1
69.3
64.3
130.3
60.8
69.5
66.5
129.8
58.7
71.1
69.4
132.6
61.2
71.4
70.0
-
181.2
115.9
179.9
112.6
187.2
117.0
194.1
121.9
201.4
127.6
202.2
126.5
Ratio : Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of
goods and structures
4.00
3.57
4.12
3.66
4.09
3.60
4.05
3.57
3.96
3.53
4.01
3.58
5.58
5.85
5.75
5.68
5.56
5.73
Inventories *
Farm
Nonfarm
_ _
Durable goods
Nondurable good .—
Final sales 2
Final sales of goods and structures
Table 5.8-5.9.—-Change in Business Inventories by Industry
in Current and Constant Dollars
Change in business inventories
Farm
Nonfarm
Change in book value
IVA *
Manufacturing
Durable goods. _ .
Nondurable goods
Wholesale tradeDurable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers .
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
._
Other .
Durable goods
Nondurable goods
_
Billions of 1972 dollars
Inventories *
17.5
-5.9
2.5
7.4 -16.0
-17.4
4.5
1.8
-2.4
1.0
1.3 -3.7 -3.4
4.1 -1.2
13.4
21.5
1.5
6.8
47
6.1 -12.3 -14.0
47.8
64.6
49.3 75.1 43.4
36.5 42.4
52.7
-51.2 -54.0 -73.5 -37.3 -48.8 -56.4 -45.9 -26.3
12.3 -2.1 13.3
11.3
-.5
3.4
.9 -1.6
9.8
1.4
1.0
-.4
.4
.8 -3.9
.2
3.5
1.1
.4
1.5 -4.9
-.3
1.1 -3.7
.7
.4 -1.2
1.0
4.5
-.5
.6
-.2
-.3
-.2
.4
4.7
-.6
4 4 -15.3
5
44
11 7
-.1
-3.6
0
.3
4.0
.8
.3
.4
.1
3.6
-.1
.8
.4 -12.6
.4 -4.4
.1 -8.2
5.6 -1.9
5.9
-.8
-.3 -1.0
6.4
3.7
-.4
6.0
.4 -4.1
5.6
-.8
0
-.5
_ n -5.1
2.9
3*2
30
2.7
5.9
.6
-.8
-.2
.2
-.6
.4
-9.7
-1.6
-8.1
.6
2.0
-1.4
.7
2.5
-1.8
-.1
-.5
.4
-4.5
.5
-4.9
-.4
.2
-.2
15.0
6.2
8.9
.4
-.9
1.3
-3.8
-1.0
-2.7
4.2
.2
4.0
94
-9.3
-.1
.8
-.1
.9
2.0
6
1.4
7.5
6.3
1.2
9.7
6.4
3.3
-2.2
1
-2.1
14.4
11.7
2.7
-2.4
-.1
-2.3
Farm
Nonfarm
Change in book value
IVA i
_
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 goods
Nondurable goods
_.
Other
Durable goods
Nondurable goods
10.2
-2.9
-0.9
1.3
2.4
7.8
2.4
-.5
.5
-1.4
.7
.6
6.8 -1.0
5.4
-.1
6.3
2.1
.6
3.3
-.9
1.0
.5
-.5
.5
.5 -1.0
.5
0
.5
.4
.6 -1.3
0
.6
-.9
^4.
.4
-.1
.6
— 2
!s
.5
-.1
0
0
.9
-.1 -2.2
-7.5
-.2 -2.2
-5.9
.1
.1 -1.6
.1
.3
1.1
.2
0
.2
-.1
.2
.9
-!i
-5.0
-7.2
-1.4
1.8
-3.1
1.5
-5.6
-1.1
-.3
-3.6
-.5 -5.2
0
-.7
1.8
-.5 -3.4
-2.8
0
1.5
.9
2.3
-.2
.7
-.8
1.1
-.8
1.6
.3
1.9
0
2.3
1.0
-.7
2.0
-.7
-.3
-.1 -1.1
-.2
-.3
0
^g
-.1
-.1
-.6
l'.3 -1.9
.4
-1.7
-1.7
3.0 -2.3
1.1
-.1 -.2
.2
.1
-.1 -.1
0
.1
-.1
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 goods
_ _ _ _ _ _
Nondurable goods
Other
_
Final sales 2
Final sales of goods and structures
Ratio: Inventories to final sales 1—
Nonfarm inventories to final sales
Nonfarm inventories to final sales of
goods and structures
Billions of 1972 dollars
Change in business inventories
- —-
23.3
4.6
2.5
2.1
-1.0
-.9
-.1
-1.6
-1.0
-.7
.7
.1
.6
-4.3
-4.7
.5
.4
0
.4
343.3
343.6
342.3
340.6
340.2
342.9
43.6
299.6
180.6
119.* 0
43.8
299.8
180.8
118.9
43.4
299.0
179.9
119.1
43.0
297.6
179.9
117.6
42.7
297.5
179.2
118.3
42.9
300.0
181.4
118.6
147.3
99.5
47.8
64.1
42.0
22.1
52.5
34.7
17.7
11.6
147.2
99.5
47.7
64.5
42.5
21.9
52.9
35.3
17.6
11.6
145.9
99.0
46.8
64.7
42.5
22.2
53.3
35.3
18.1
11.3
145.0
98.9
46.1
64.7
42.7
22.0
53.4
35.5
17.9
11.2
146.1
99.5
46.6
64.4
42.4
22.0
53.0
35.3
17.7
11.4
146.3
99.6
46.8
65.2
43.1
22.0
53.8
36.0
17.8
11.3
4.4
64.9
31.1
33.8
23.4
4.4
64.7
30.7
34.1
23.4
4.1
65.1
30.2
34.8
23.4
4.1
64.6
30.3
34.2
23.4
4.3
63.5
29.2
34.4
23.4
4.2
65.2
30.6
34.6
23.2
106.1
67.7
102.8
64.3
103.9
64.7
105.4
65.9
107.3
67.9
105.9
66.2
3.24
2.82
3.34
2.92
3.29
2.88
3.23
2.82
3.17
2.77
3.24
2.83
4.43
4.66
4.62
4.51
4.38
4.53
10.8
.9
9.9
.9
.4
.5
3.0
2.8
.2
3.2
2.8
.4
-.3
0'
-.2
6.9
5.8
1.1
-.9
0
-.9
Table 5.8-5.9:
1. The IVA shown in this table differs from that which adjusts business income. 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. The mix differs
from that underlying business income derived primarily from Internal Revenue Service
statistics.
Table 5.10-5.11:
1. Inventories are as of the end of the quarter. The quarter-to-quarter change in inventories
calculated from current-dollar inventories in this table is not the current-dollar change in
business inventories (CBI) component of GNP. The former is the difference between two
inventory stocks, each valued at their respective end-of-quarter 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 table are at quarter rates, whereas CBI is stated at annual rates.
Quarter-to-quarter changes calculated from the constant-dollar inventories shown in 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.
SUEVEY OF CURRENT BUSINESS
16
Table 6.4.—National Income Without Capital Consumption
Adjustment by Industry
September 1981
Table 7.1-7.2.—Implicit Price Deflators and Fixed-Weigh ted
Price Indexes, 1972 Weights, for Gross National Product
1980
1979
I
1980
II
1981
III
IV
I
II'
Seasonally adjusted
Implicit price deflators, 1972=100
162.77 177.36 171.23 175.28 179. 18 183.81 188.14 191.06
Gross national product
Personal consumption
penditures
Durable goods
Nondurable goods
Services
utilities
Transportation
Communication
Electric, gas, and sanitary services
158.3
76.3
43.5
174.3
80.0
50.1
167.1
79.4
47.3
170.0
78.2
48.1
179.3
79.9
50.9
180.9
82.5
54.0
187.5
84.7
53.9
190.8
85.3
54.4
38.4
44.3
40.5
43.6
48.5
44.4
48.9
51.2
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services _
121.9
168.9
133.8
180.0
129.8
171.8
134.5
177.8
131.4
183.6
139.6
186.6
146.6
197.1
148.5
200.1
256.3
275.3
290.8
314.8
280.7
303.2
284.1
308.9
294.3
319.1
304.0
327.9
308.1
340.4
309.9
348.7
Government and government enterprises
277.8
301.7
292.5
297.6
302.5
314.0
320.7
325.3
43.8
49.7
51.5
48.1
50.5
48.6
52.3
50.4
Rest of the world
ex-
162.3
144.8
169.8
162.1
178.9
156.0
188.6
178.1
172.9
151.9
182.9
171.6
177.0
154.1
186. 2
176.0
180.7
157.5
190.0
180.3
184.9
160.5
195.2
184. 3
188.5
162.3
199.2
188.4
191.5
165.4
200.4
192.2
179.1
171.3
198.6
194.2
186.8
224.7
188.5
180.5
214.3
192.5
185.7
222.4
196.4
189.1
229.5
199.9
192.4
233.3
203.1
195.0
236.2
208.4
201.4
244.1
159.7
200.5
202.7
202.0
170.2
218.6
221.7
219.9
165.6
212.6
215 2
213.6
169.0
217.4
220.7
219.4
171.7
221.9
225.2
223.1
174.5
223.3
226.3
224.2
176.8
228.7
231.8
229.6
182.0
231.8
235.0
233.4
140.3
149.4
145.5
148.5
151.0
152.4
155.2
158.0
Net exports of goods and services
Exports
Imports
191.5
245.4
211. 0
290.1
203.4
284.2
207.6
290.4
213.4
289.7
219.9
296.4
226.1
303.1
228.0
301.2
Government purchases
goods and services
Federal
National defense
Nondefense
State and local
168.1
165.1
165.7
163.8
169.8
184.4
183.9
185.6
180.6
184.7
178.1
176.5
178.9
172.1
179.1
181.6
179.5
181.4
176.2
182.8
185.1
182.4
185.2
176.7
186.7
192.8
197.4
196. 8
198.7
190.0
196.4
199.4
201.2
195.9
194.5
199.5
201.9
204.2
197.3
198.0
Gross private domestic investment
_
Fixed investment
Nonresidential
Structures
,_
Producers'
durable
equipment
Residential
Nonfarm structures
Farm structures
Producers'
durable
equipment
Change in business inventories .
of
Table 6.20.—Corporate Profits by Industry
Fixed-weighted price indexes, 1972 = 100
1981
1980
1979
1980
I
11
III
IV
I
II"
Seasonally adjusted at annual rates
Billions of dollars
Gross national product
167.3
183.3
177.1
181.1
185.1
189.7
194.4
198.1
Personal consumption expenditures
Durable goods
Nondurable goods - _ _ _
Services
166.0
147.7
174.0
164.9
184.3
160.1
195.6
182.0
177.8
155.2
189.1
175.2
182.1
158.3
193.1
180.1
186.3
162.0
197. 3
184.3
190.8
164.9
202.9
188.5
195.8
166.7
209.5
193.1
198.9
170.4
211.2
197.3
185.0
176. 7
194.9
203.8
195.5
217.9
198.7
188.0
210.3
202.4
193.9
216.7
207.1
198.6
221.0
209.7
202.0
224.1
214.6
206.7
229.0
219.1
211.8
233.5
166.2
200.9
182.6
219.6
175.2
213.2
180.8
218.4
185,8 189.4
223.1 *224.3
193.9
229.7
199.3
233.1
196.7
244.2
217.1
302.9
209.9
290.3
213.2
299.4
219.1
308.7
226. 6
315.5
232.9
324.4
236.1
324.8
171.8
169. 0
170.8
164.6
173.6
190.8
191.2
195.1
181.1
190.5
184.4
184.5
187.8
176.0
184.3
188.4
187.8
191.6
178.2
188.8
192.1
190.8
194.7
180.4
193.0
198.2
201.2
205.8
189.5
196.2
202.7
205.5
210.0
194.0
200.7
206.9
210.8
216.1
197. 1
204.3
170.3
167.2
188.8
183.2
182.3
177.0
186.7
181.0
190.9
185.0
195.4
189.6
200.3
194.3
203.8
198.0
170.3
188.7
182.2
186.6
190.8
195.4
200.2
203.8
178.4
192.7
185.3
187.9
195.1
202.6
205.7
206.0
241.1
317.1
304.1
318.7
320.3
325.2
353.3
360.3
155.5
169.5
164.0
167.8
171.3
175.0
178.4
182.0
167.3
168.0
166.9
183.3
184.5
177.2
178.2
181.2
182.4
185.1
186.7
189. 8
190.9
194.4
195.7
198.2
199.5
Gross private domestic investCorporate profits with
IVA and CCAdj—— _ 196.8
182.7
200.2
169.3
177.9
183.3
203.0
190.3
166.5
29.8
136.7
151.5
27.9
123.6
163.6
31.0
132.6
140.0
27.4
112.5
147.0
25.8
121.2
155.6
27.4
128.2
177.6
25.5
152.1
167.6
21.0
146.5
30.3
31.1
36.6
29.3
30.9
27.7
25.4
22.8
Fixed investment
Nonresidential
S tructures
Producers'
durable
equipment
—
Residential
Change in business inven-
Corporate profits with
IV A..
.... 212.7
199.8
215.6
186.9
195.9
201.0
217.7
205.1
Net exports of goods and serv-
182.4
168.7
179.0
157.5
165.0
173.4
192.3
182.3
31.6
Financial
Federal Reserve Banks - . . 9.6
Other
22.0
30.6
11.9
18.7
33.3
11.9
21.4
30.1
12.7
17.4
28.7
11.3
17.4
30.5
12.0
18.5
28.6
13.5
15.1
24.3
14.3
10.1
150.8 138.1 145.7 127.5
Nonfin ancial
92.1
61.3
Manufacturing
88.9
74.5
28.1
Durable goods
_
39.5
10.1
20.9
Primary metal indus4.2
2.0
tries
5.9
3.1
Fabricated metal
5.2
5.0
1.7
products _ _
3.9
Machinery, except
7.3
5.7
electrical . . _i _^ ...... 8.8
6.3
Electric and electronic
6.3
6.6
3.8
equipment.- .
5.3
Motor vehicles and
-8.8
4.3 -4.3 -2.9
equipment
;
Other
10.8
6.0
5.6
6.5
136.2
68.5
19.4
142.9
76.2
25.8
163.7
90.4
31.5
158.0
84.4
31.9
.7
3.8
5.1
3.8
3.9
4.8
4.1
4.6
6.2
6.1
8.7
8.2
Domestic industries
Financial
Nonfinancial
Rest of the world
Domestic industries
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
5.5
5.3
8.4
6.2
-4.8
8.0
-.8
6.6
-1.6
6.8
2.7
6.3
49.4
53.7
64.0
51.2
49.1
50.4
58.9
52.5
6.9
7.3
8.2
6.7
5.7
8.6
10.4
9.5
8.2
7.5
8.8
6.0
7.0
8.1
10.1
8.3
18.3
16.0
24.6
14.3
31.0
16.0
25.3
13.2
22.2
14.2
19.9
13.8
21.6
16.8
19.6
15.1
18.0
23.0
20.8
18.5
20.9
24.1
16.1
14.8
22.7
16.6
25.9
23.7
22.5
20.4
24.8
18. 8
22.6
25.2
20.8
27. 5
25.1
20.0
28.4
25.1
30.3
31.1
36.6
29.3
30.9
27.7
25.4
22.8
Exports
Imports
Government purchases
goods and services
Federal
National defense
Nondefense
State and local
of
Addenda:
Gross domestic purchases 1 _.
Final sales
Final sales to domestic purchasers *
Personal consumption expenditures, food
Personal consumption expenditures, energy
Other personal consumption
expenditures
Gross domestic product
Business
Nonfarm
Table 7 1-7 2:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchasers equals final sales less exports plus imports.
SUBVEY OF CUKBENT BUSINESS
September 1981
1980
I
II
III
IV
I
1979
II'
1980
I
II
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Gross national product. . 162.77 177.36 171.23 175.28 179.18 183.81 188.14 191.06
Goods
156 6
Final sales.
. 156.3
Change in business inventories
___.
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories—
152 0
151.5
177.4
171.0
174.9
179.7
184.1
187.7
190.9
163 8
168 1
171 8
176.3
181 1
183 2
170.1 163.2
167.3
172. 9
177. 0
180.1
182.6
157 0
158.6
164 2
163.4
166 3
167 0
169 2
169.1
173 3
172.9
179 1
178.2
169.9
164 1
164.5
160.2 174.2
160 1 174 2
168.7
166 7
170 9
170 1
175 7
177 2
181.8
182 8
186.7
185 4
186.1
185 8
Services
161.8
176.7
170.6
174.6
178 5
183.2
187.2
190.8
Structures...
199.7
222.1 213.9
220 6
226 0
228 5
232 8
238 0
182.2
176.6
180.5
183.3
188.4
192.7
195.7
182.2
176.3
180.1
183 8
188.7
192.2
195.5
Addenda:
Gross domestic purchases i_. 166.1
Final sales1 to domestic purchasers
166.0
Table 7.4.—Implicit Price Deflators for Gross National Product by
Sector
Gross national product. .162.77 177.36 171.23 175.28 179.18 183.81 188.14 191.06
Gross domestic product
.... 162.8
177.4
171.3
175.3
179.2
183.8
188.2
191.1
162 6
161.5
163.1
147 8
200.8
162.6
177 4
177.0
179.0
160 9
193.1
177.4
171 2
170 8
172.6
155 6
183 0
171.2
175 4
175 3
177.3
158 8
178 6
175.4
179 5
178 8
180.8
162 5
205 3
179.5
183 8
183 1
185.2
166 4
208 g
183.8
188 2
187 9
190.1
169 6
200 0
188.2
191 1
190 9
193.1
172 8
198 7
191.1
Households and institutions- 173.2
Private households...
180.3
Nonprofit institutions
172. 6
189. 5
193.8
189.1
183.2
188 8
182.7
187.7
191 8
187.4
190.7
195 0
190.3
196.0
199 8
195.7
201.2
203 4
201.0
205.7
206 6
205.7
Government
Federal
State and local
161.3
154 7
164.4
173.5
166 6
176.7
168.7
162 4
171.7
171 2
162 8
175.1
173 5
163 2
178.3
180 5
178 0
181.7
184 1
179 5
186.2
186 8
180 2
189! 8
161.0
175.4
169 4
173 2
177 2
182 0
186 5
189 2
164.3
179.4
172.9
177.4
181.5
185.9
190.4
193.3
Business.. .
Nonfarm
Nonfarm less housing. ..
Housing
Farm
Statistical discrepancy
Rest of the world
._
Addendum:
Gross domestic business
product less housing
Table 7.5.—Implicit Price Deflators for the Relation of Gross
National Product, Net National Product, and National Income
Gross national product
Less: Capital consumption allowances with C C Adj
162.77 177 .36 171.23 175.28 179.18 183.81 188 14 191 06
179.1
194.8
188.2
193.5
197.2
200.0
202.8
207.8
Equals: Net national product.. 161.0
175.4
169.4
173.2
177.2
182.0
186.5
189.2
Less: Indirect business tax
and nontax liability
plus business transfer
payments less subsidies
plus current surplus of
government enterprises. 135.7
146.4
139.6
144.7
147.5
153.7
164.5
166.9
Statistical discrepancy. . 162.6
Equals : National income
164.1
177.4
171.2
175.4
179.5
183.8
188.2
191.1
179.1
173.1
176.8
180.9
185.6
189.3
192.0
Table 7.S:
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic
purchasers equals final sales less exports plus imports.
Table 7.7:
1. Equals the deflator for gross domestic product of nonfinancial corporate business with
the decimal point shifted two places to the left.
Table 7.8:
1. Consists of final sales and change in business inventories of new autos produced in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and
government purchases.
Table 7.9:
1. Includes new trucks only.
354-680 0 - 8 1 - 3
IV
I
IP
Dollars
Index numbers, 1972==100
162.7
III
Seasonally adjusted
Seasonally adjusted
Final sales.
_
Change in business inventories
1981
1980
1981
1980
1979
17
Table 7.7.—Current-Dollar Cost and Profit Per Unit of ConstantDollar Gross Domestic Product of Nonfinancial Corporate Business
Current-dollar cost and
profit per unit of constant-dollar gross
domestic product J
1.623
Capital consumption allowances with CCAdj
.169
1.454
Net domestic product
Indirect business tax and
nontax liability plus business transfer payments
less subsidies
.153
1.301
Domestic income
Compensation of employ1.092
ees
Corporate profits with
IVA and CCAdj
.157
Profits tax liability. ___.. .080
Profits after tax with
IVA and CCAdj
.077
.052
Net interest - —
1.770
1.710
1.754
1.787
1.830
1.876
1.904
.191
1.579
.180
1.530
.192
1.562
.196
1.591
.197
1.633
.197
1.679
.204
1.701
.176
1.403
.161
1.369
.173
1. 389'
.181
1.411
.188
1.444
.199
1.480
.202
1.499
1.196
1.158
1.193
1.203
1.230
1.244
1.266
.143
.073
.151
.085
.132
.061
.141
.070
.146
.075
.169
.076
.163
.064
.070
.065
.066
.060
.071
.064
.071
.067
.071
.068
.093
.067
.098
.070
Index numbers, 1972=100
Table 7.8.—Implicit Price Deflators for Auto Output
Auto output
Final sales .._
Personal consumption expenditures _ _
New autos
Net purchases of used
Producers' durable equipment
New autos
Net purchases of used
autos.
Net exports
Exports
Imports
__
Government purchases
Change in business inventories
Addenda:
Domestic
output of new
autos l
_
Sales of
imported new
autos 2
145.5
155.9
151.3
155.0
156.8
160.5
159.0
146.4
155.8
152.7
153.8
156.8
160.2
160.5
166.0
158.3
149.4
169.4
161.2
163.8
156.4
166.8
160 4
171.0
164.5
176.5
164.6
176.8
164.3
185.4
169.7
133.2
149.4
146.5
161.3
141.2
156.2
150.8
160.2
154.9
164.3
140.5
164.4
137.5
164.9
146.6
170.5
150.0
195.6
147.6
164.7
211.4
167.5
156.7
201.7
160.4
160.8
209.8
172.1
182.4
219.5
173.0
165.1
214.1
165.6
165.7
228.0
162.5
168.6
229.1
173.6
149.2
161.7
156.7
160. 2
165.7
164.4
164.4
170.0
160.5
164.5
164.6
164.4
170.0
149.5
161.4
156.4
165.9
Table 7.9.—Implicit Price Deflators for Truck Output
Truck output l
169.1
186.5
178.0
185.8
189.5
194.0
198.8
205.0
Final sales
.
Personal consumption expenditures
Producers' durable equipment
169.1
186.5
178.4
184.8
189.7
195.0
199.0
205.3
149.4
161.2
156.4
160. 6
164.4
164.7
164.3
169.9
177 2
194.5
186.1
191.3
197.4
205.2
210.6
217.6
Exports
Imports
Government purchases
Change in business inventories
177.5
163.7
177.5
195.0
176. 4
194.9
186.1
168.7
186.1
191.2
168.7
191.3
197.4
180. 0
197.3
205.2
186.4
205.2
210. 6 217.6
185.3 191.6
210.6 217.6
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Personal consumption
expenditures
162.3
178.9
172.9
177.0
180.7
184.9
188.5
191.5
144.8
154.6
156.0
167.1
151.9
161. 9
154.1
164.9
157.5
168.8
160.5
173.2
162.3
174.0
165.4
180.6
135.6
142.7
143.6
161.7
140.4
154.7
142.5
160.6
144.8
164.4
146.5
167.3
148.6
168.1
150.9
169.7
Nondurable goods
169.8
Food
- . 176.6
Clothing and shoes
129. 2
243.4
Gasoline and oil
Other nondurable goods
167.8
340.6
Fuel oil and coal
Other
155.9
188.6
190.5
134.3
339.4
187.5
471.4
170.1
182.9
183. 1
132.9
330.6
180.3
450.9
164.1
186.2
185.7
133.3
345.1
185.9
473.3
168.5
190.0
193.0
134.5
338.6
190.6
476.6
172.1
195.2
200.3
136.5
343.7
193.4
484.5
175.8
199.2
203.7
137. 0
376.3
198.1
559.4
179.3
200.4
204.2
137.8
379.0
203.0
582.8
183.5
162.1
151.9
165.5
205.2
140.5
161.2
170.4
178.1
165.6
181.5
239.4
146.3
184.3
187.0
171.6
160.3
173.7
224.4
143.7
174.3
180.6
176.0
163.5
178.2
235.6
143.5
180.7
185.9
180.3
167.3
185.6
245.6
147.9
189.7
188.4
184.3
171.3
188.2
250.9
150.2
192.4
193.1
188.4
174.7
192.3
258.3
153. 8
194.0
198.5
192.2
178.1
197.7
265.5
157.7
197.0
202.5
Durable goods
Motor vehicles and parts.—.
Furniture and household
equipment
Other
Services
Housing
Household operation
~ __
Electricity and gas _
Other
Transportation
Other
SURVEY OF CURRENT BUSINESS
18
1981
1980
1979
1980
I
III
II
September 1981
IV
I
1980
II'
1979
1980
I
Seasonally adjusted
Go /eminent purchases
of goods and services.. 168.1
184.4
178.1 181.6
185.1
192.8
196.4
199.5
165.1
183.9
176.5
182. 4
197.4
199.4
201.9
165.7 185.6 178.9
162.0 179.1 172.6
292.4 441 5 425.0
160.3 174.6 169.0
181.4 185. 2
176.2 182.6
420.7 451.6
170. 8 172.9
196.8
184.8
465.1
185.8
201.2
193.7
476.1
188.9
204.2
199.2
481.0
190.6
164.7 160.3
160 9 155.9
170.2 166.4
194.0 186.6
198.3 192.3
160.7 161.1
156.4 156.8
166. 8 167.3
190.0 195.9
198.1 199.6
176.9 178.4 178.9
174. 5 176.0 176.4
180.3 181.8 182.6
203.0 208.5 212.2
203.1 207.1 214.0
National defense -Durable goods
Nondurable goods
Services.
Compensation of employees...
..
Military
Civilian
Other services
Structures
152.3
147.6
159.0
177.8
174.4
195.9
186. 6
197.3
189.3
185.9
189.1
191.1
167.2
187.7
211.0
180.2
192.8
214.2
181.8
198.1
218.9
182.6
201.9
222.2
186.7
190.0
194.5
198.0
170.6
194.7
181.3
175.0
198.2
184.7
178.4
202.3
189.2
181.0
205.8
193.4
175.1 178. 3 181.7
185.5 190.2 193.5
219. 6 224.7 226.3
186.2
198.1
231.3
189.8
203.9
233.5
163.8
Nondefense
Durable goods
93.0
Nondurable goods
162.4
Services
Compensation of employees
.
159.1
166.9
Other services
Structures
... 186.0
180.6
167.5
172.1
160.6
176.2
165.4
176.7
168.6
198.7
175.2
176.9
171.5
173.7
176. 6
170.0
185. 4
207.7
166.3 166.7
178.1 182.5
200.1 206.0
169.8
184.7
179.1 182.8
157.7
175.1
165.8
169.7
191.7
179.4
165.1 168.1
184.9 188.6
174.0 177.7
164.4
170.2
197.6
176.7
187.5
220.8
171.7
180.7
213.2
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
. ...
Other services
Structures
Table 7.16.—Implicit Price Deflators for Exports and Imports of
Goods and Services
211.0
203.4
207.6
213.4
219.9
226.1
228.0
Merchandise
Durable goods
Nondurable goods
213.7 236.7
203.8 229. 7
229.1 247.2
228.3
218.5
244.0
232.2
225.9
241.8
238.5
233.1
246.4
248.4
242.6
256.8
255.7
250.2
263.1
257.4
256.6
258.5
Services.
Factor income
Other .
162.8
161.3
165.6
170.7
169.4
173.6
174.6 178.4
173.2 177.2
177.1 180.6
182.8
182.0
184.2
187.0
186.5
187.9
190.0
189.2
191.7
Exports of goods and services.. 191.5
.....
176. 5
175.3
179.0
IV
I
II'
Index numbers, 1972=100
Table 7.14B.—Implicit Price Deflators for Government Purchases
of Goods and Services by Type
179.5
III
II
Seasonally adjusted
Index numbers, 1972 =100
Federal
1981
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
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 petroleum.
Durable goods
,
Nondurable goods
Petroleum and products
__.
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
...
Durable goods
Nondurable goods
213.7
236.7
228.3
232.2
222.8
235.1
228.7
221.6
251.7 282.9
251.8 282.9
251.7 282.9
189.1 212.2
215.8 249.7
187.5 199.5
203.4 231.1
174.5 172.6
213.0 235.9
213.0 235.9
213.0 235.9
285.1
285.1
285.1
196.0
234.5
200.7
227.9
170.8
228.2
228.2
228.2
282.8
282.8
282.8
207.4
243.1
192.4
226.8
166.3
232.1
232.1
232.1
271.6
332.3
327.0
334.8
228.4
270.1 260.4
266.6
244.5 301.1 296.6
244.9 306.6 303.3
244.1 293.2 286.2
702.0 1,153.8 1,059.7
178.6 205.4 195.3
231.9 248.5 239.3
203.7 221.2 216.3
186.4 195.0 190.7
236.9 282.4 278.6
217.5 246.2 239.2
217.5 246.2 239.3
217.5 246.2 239.0
Addenda:
Exports:
Agricultural products
222.4
Nonagricultural products.... 211.6
Imports of nonpetroleum
products
217.8
238.5
248.4 255.7
257.4
234.1
255.4 263.1
256.2
280.5
280.5
280.5
217.9
255.0
201.7
232.2
176.9
238.5
238.4
238.7
292.6
292.5
292.6
237.5
270.6
199.2
237.4
173.5
255.8
255.8
255.8
293.4
293.4
293.4
244.3
282.9
197.7
242.8
169.2
257.2
257.2
257.2
328.4
339.1 348.0
343.4
276.0
277.3 277.0
268.1
283.1
283.1
283.1
228.1
267.3
202.9
238.9
176.4
248.4
248.5
248.2
299.2 303.8
305.9
303.8 309.3 311.0
292.9 296.5 298.3
1,163.2 1.191.6 1,231. 0
208.1 208.1 210.4
235.0 252.3 267.4
214.2 226.2 228.5
188.8 198.1 202.8
273.2 289.1 289.0
242.2 249.1 254.2
242.2 249.3 253.9
242.2 248.8 254.4
300.3 301.1
301.4 302.3
299.2
298.9
1,319.8 1,349.3
209.6 199.7
277.4 282.7
236.7 230.8
206.5 206.1
312.9 284.8
258.4
254.4
258.0 254.6
254.2
258.7
234.5
237.2
229.8
227.9
220.7
234.9
234.0
239.6
253.5 261.8
247.1 254.1
254.3
258.1
248.4
242.3
244.4
251.1
256.2 258.6
254.9
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales
of Business
Inventories *
211.0
215.5
223.7
230.6 234.3
236.6
178.4
215.8
204.6
232.9
186. 8
219.7
207.2
238.7
213.6
225.2
211.2
246.3
215.4
232.8
218.8
254.3
203.6
238.6
222.0
263.8
202.0
241.5
225.4
266.3
225.1 229.9
213.7 217.6
248.9 255.9
237.5 243.1
225.1 228.0
264.1 275.0
248.2
232.8
280.9
Imports of goods and services.. 245.4
290.1 284.2
290.4
289.7
296.4
303.1 301.2
Farm
Nonfarm
__
Durable goods
Nondurable goods
271.6
209.8
369.9
332. 3 327.0
235.4 230.0
507.2 498.4
334.8
230.8
517.6
328.4
237.0
498.6
339.1
243.9
514.2
348.0
244.0
533.2
343.4
243.7
532.8
M anuf acturing
Durable goods
Nondurable goods
220 6
211.1
240.6
193.2 198.6 205.2 208.1
169.4 173.3 177.2 182.0
217.3 222.7 228.3 234. 0
213.0
186.5
239.9
215.7
189.2
245.9
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
.
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods .
216 1 220 3
201.2 204.7
244 4 250.6
206.3 211.1
200.8 204.6
217.1 224.2
260.3 262.0
203.1 204.9
354.4 356.6
226.2
209.5
258.1
218.7
200.6
236.6
261.2
208.9
351.9
234.7
217 2
268.5
226.0
217.4
243.0
275.8
216.1
379.0
241.7
222.2
279. 2
229.7
221.7
245.8
297.0
224.8
417.8
243.7
226.3
277.8
232.9
225.7
247.4
295.1
229. 3 .
406.3
Retail trade
Durable goods
Nondurable goods
Other
189.3
187.6
190.8
258.1
191. 6
188.7
194.2
261.5
195. 7
192.0
199.0
274.6
201.8
200.4
203.0
284.7
204.3
201.3
206.8
295.9
203.2
199.9
206.0
301.6
170.8
175.0
180.1
184.1 187.6
190.9
171.2
175. 2 180.7
184.9 188.1
190.9
.
Merchandise
.
Durable goods
Nondurable goods .
Services
Factor income
Other
.
..
182.9 201.1
161.5 175.3
199.5 225.5
Table 1M:
1. Inventories are as of the end of the quarter.
2. Business final sales equals final sales less gross product of households and institutions,
government, and rest of the world.
__ -
Final sales 2
Final sales of goods and structures
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price
Deflator, and Price Indexes
1979
1980
I
II
III
1980
1981
1980
IV
I
1979
II'
1980
I
III
I
IV
II'
Seasonally adjusted
Seasonally adjusted
Percent at annual rates
Percent
II
1981
Percent at annual rates
Percent
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index. _.
Fixed-weighted price index.
12.0
3.2
8.5
8.7
9.4
8.8
-.2
9.0
8.6
9.6
12.6
3.1
9.3
8.7
9.7
-1.1
-9.9
9.8
8.8
9.3
11.8
2.4
9.2
9.3
9.0
14.9
3.8
10.7
10.5
10.4
19.2
8.6
9.8
9.8
10.2
4.7
-1.6
6.4
7.7
7.9
Imports:
Current dollars
1972 dollars
Implicit price deflator
Chain price index . _
Fixed- weighted price index.
21.6
6.0
14.7
17.2
16.2
18.1
-.1
18.2
25.2
24.0
47.4 -14.8 -21.2
11.9 -21.9 -20.4
31.8
9.0 -1.0
38.8 16.2 11.9
45.5 13.1 13. 1
37.8
25.8
9.6
9.6
9.0
20.5
10.3
9.3
12.6
11.8
11.5
14.2
-2.4
.6
.4
Personal consumption
expenditures:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
12.0
2.9
8.9
9.3
9.6
10.7
.5
10.2
10.6
11.0
12.9
.8
12.0
12.5
13.2
-1.0
-9.8
9.8
9.7
9.9
14.3
5.1
8.8
9.5
9.5
17.4
7.0
9.7
10.1
10.1
14.2
5.8
8.0
10.3
10.9
4.3
-2.1
6.5
6.5
6.5
Government purchases of
goods and services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index..
9.5
1.5
7.9
8.4
9.3
12.9
2.9
9.7
9.7
11.1
17.5
6.9
9.9
10.3
11.8
10.6
2.5
7.9
8.3
9.0
2.6
-5.0
8.0
8.5
8.1
20.2
2.2
17.6
12.8
13.3
13.5
5.4
7.7
9.2
9,3
.6
-5.6
6.5
8.1
8.6
6.5
.2
6.3
6.8
-.2
-7.4
7.7
8.4
9.2 -40.0
-1.6 -43.3
11.0
5.8
11.2
8.5
32.9
21.7
9.2
8.8
30.9
21.2
8.0
7.8
27.7 -17.2
24.1 -23,3
4.5
7.9
8.2
4.7
9.5
1.9
7.4
8.3
18.5
6.3
11.4
11.0
29.5
18.9
8.9
9.4
19.8 -7.5
11.9 -13.1
7.0
6.4
6.7
7.5
40.2
2.0
37.4
22.9
19.3
14.8
4.0
9.3
^3.7
-8.4
5.1
9.1
6.8
8.4
11.1
8.3
9.7
7.4
4.5
9.1
9.2
13.1
12.1
7.3
6.5
236
8.8
10.6
13.7
2.6
10.8
11.3
12.2
1.1
11.0
12.0
14.4
.2
14.2
14.9
1.8
-5.3
7.5
8.3
6.3
-1.8
8.3
9.4
18.5
6.3
11.5
11.8
13.4
4.6
8.4
12.5
5.3
2.7
2.5
3.3
11.2
2.6
8.4
8.8
18.4
5.7
12.0
11.8
23.2
9.8
12.2
9.1
12.4
6.2
5.8
7.0
8.4
-.1
8.6
7.2
10.4
1.1
9.3
8.7
8.7
2.6
5.9
10.2
11.6
12.4
16.0
8.6
9.2
11.8
13.6
3.3
9.8
14.3
13.3
8.1
7.1
24,4
M
12.2
6.1
.6
18.6
7.5
42.9
38.4
35.0 -32.2
23.1 -33.1
51.2
-5.3
38.9
46.8
-24.4
-26.4
5.5
7.4
10.3
9.4
3.3
10.1
9.7
6.1
1.3
8.2
59.7
21.4
-5.4
10.4
2.8
7.0
7.7
10.0
8.8
5.1
5.0
21.6
9.9
6.5
9.6
1.2
8.2
8.5
9.8
1.0
8.7
9.0
11.2
.6
10.5
10.7
5.6
-2.8
8.6
9.2
9.1
.3
8.8
9.1
9.7
2.3
7.2
7.2
10.0
.2
9.8
9.2
3.3
-3.8
7.5
7.5
9.3
9.7
11.7
10.2
9.1
6.8
9.7
7.2
Gross domestic purchases:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
_Fixed-weighted price index..
11.3
2.3
8.8
9.3
9.7
8.4
-1.1
9.7
10.3
10.8
12.6 -2.4
1.0 -10.6
9.2
11.5
11.6
10.0
12.5
9.9
7.3
.8
6.5
9.3
9.3
18.9
6.6
11.5
9.9
10.0
18.4
8.1
9.4
9.9
10.2
6.0
-.3
6.3
7.2
7.3
Final sales:
Current dollars
_.
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index. -
12. 3
3.5
8.5
8.7
9.4
9.8
.7
9.0
8.6
9.6
12.0 -1.8
3.1 -10.4
8.7
9.6
8.6
8.9
9.6
9.5
15.9
4.1
11.3
9.3
9.0
15. 0
4.4
10.2
10.6
10.4
15.5
6,9
8.0
10.6
10.3
2.0
-4.7
7.0
7.7
7.9
Final sales to domestic
purchasers:
Current dollars
1972 dollars
Implicit price deflator..
Chain price index
Fixed-weighted price index.-
11.6
2.6
8.8
9.2
9.7
9.5
—.2
9.7
10.3
10.9
12.0 -3.2
1.0 -11.2
10.9
9.0
11.7
9.8
12.5 10.1
11.2
2.5
8.5
9.3
9.2
19.0
7.2
10.9
9.9
10.0
14.6
6.4
7.7
9.9
10,3
3.2
-3.6
7.1
7.2
7.3
Gross domestic product:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price index. -
11.5
2.8
8.5
8.7
9.4
8.7
-.2
9.0
8.6
9.6
12.0
2.5
9.3
8.7
9.7
-.6
-9.4
9.8
8.8
9.3
11.6
2.2
9.2
9.3
9.0
15.6
4.4
10.7
10.5
10.4
18.9
8.3
9.8
9.8
10.2
5.1
-1.2
6.4
7.7
7.9
Business:
Current dollars
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
11.9
2.9
8.7
9.0
8.5
-.5
9.1
8.7
12.5 -1.9
2.7 -11.1
9.5 10.3
8.9
9.1
12.3
2.3
9.7
9.9
15.4
5.0
9.9
9.7
20.3
9.5
9.9
10.0
4.8
-1.4
6.3
7.9
9.7
9.8
9.8
9.6
9.3
10.5
8.2
11.8
3.1
9.1
-.4
12.9 -1.1
1.7 -10.8
11.6
3.1
17.6
6.9
19.3
7.7
5.8
-.6
8.5
8.8
9.6
11.0
10.9
8.3
10.0
10.8
6.5
11.0
.7
13.5
1.3
4.4
-4.9
13.3
4.1
12.8
2.9
11.2
3.0
8.0
1.4
Durable goods:
Current dollars
1972 dollars
Implicit price deflators..
Chain price index
Fixed-weighted
price
index
Nondurable goods :
Current dollars
1972 dollars. __
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Services:
Current dollars
1972 dollars—..
Implicit price deflator...
Chain price index
Fixed-weighted
price
index
Gross private domestic investment:
Current dollars
1972 dollars
Implicit price deflator.. _„-.Chain price index
._.Fixed-weighted price index..
Fixed investment:
Current dollars..
1972 dollars
Implicit price deflator...
Chain price index
Fixed-weighted
price
index..
Nonresident ial:
Current dollars
1972 dollars
Implicit price deflator...,
Chain price index
Fixed-Weighted price
index
12.4
4.1
8,0
8.3
12.8
2.6
9.9
10.2
12.7
2.1
10.4
10.9
10.8
0
10.7
11.2
17.0
6.4
10.0
9.9
13.1
3.7
9.1
9.3
10.9
1.4
9.3
9.9
10.1
1.6
8.3
8.7
8.5
10.4
11.1
11.7
9.9
9.3
10.1
9.0
5.6 -21.8 -13.3
-5.6 -28.9 -10.0
23.7
11.1
10.8 -4.9
1.3 -12.5
12.8
3.1
9.4
10.2
.7
-7.1
8.5
10.0
10.7
10.1
15.6
6.5
5.8
-3.0
8.6
9.0
9.1
10.3
8.6
10.7
9.7
10.6
11.3
Structures:
Current dollars
22.4
1972 dollars...
8.7
Implicit price deflator.
12.6
Chain price index. . 12.9
Fixed-weighted
price index
12.9
Producers' durable
equipment :
Current dollars
12.3
1972 dollars..... ... 5.5
Implicit price deflator
6.4
Chain price index. . 7.1
Fixed- weighted
7.6
price index
Residential:
Current dollars
1972 dollars
Implicit price deflator..
Chain price index
Fixed-weighted
price index
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator
Fixed-weighted price index..
13.0
-.1
2.2 -25.8
-5.3 -31.8
7.9
8.9
10.5
12.3
10.5
2.1
8.3
9.7
24.2
15.7
7.4
5.3
45.9
24.2
21.1
16.1
18.0
10.8
6.5
9.4
2.5
-7.6
10.9
8.9
12.0
9.7
5.2
9.7
8.7
11.0 -10.4
2.2 -19.9
6.0
-1.5
11.5
4.0
19.6
13.3
11.4
-2.1
11.8
13.1
7.6
10.0
7.2
6.3
5.6
9.1
13.9
10.1
13.1
10.2
7.0
9.5
10.3
12.4
.7 -4.0
-1.4 -13.1 -15.3
16.5
9.0
22.3
16.6
21.8
6.7
14.1
8.5
10.8
13.1
11.9
14.0
14.8
15.9
12.6
13.3
8.3
6.9
6.4
4.9
9.7
11.8
14.5
12.6
8.1
5.8
9.0
12.3
5.3
8.7
1.9
18.0
11.8
5.6
-5.9
2.0
-4.2
10.2 -16.3
3.8 -22.7
8.T
6.5
9.5
6.2
8.3
8.3
13.4
6.6
11.0
6.6
6.3
5.5
8.8
12.3
11.0
9.8
9.1
13.4
11.6
7.9
9.9
11.8
25.7
16.0
68.5
64.2
6.6 -11.3 -16.7 -56.4
-5.2 -18.6 -24.2 -60.2
14.0 -19.2
3.6 -23.4
12.5
12.6
9.0
9.3
9.8
10.1
9.5
10.2
8.4
8.9
2.6
2.1
10.0
10.1
5.5
6.0
12.6
9.3
10.1
10.2
8.8
2.1
10.1
6.0
28.0
15.2
11.1
12.0
12.6
20.8
9.6
10.2
10.1
10.3
47.1 -4.7
32.0 -12.3
11.5
8.6
12.4
6.8
13.5
6.5
11.4
_ 2
11*. 6
11.5
11.5
4.4
-7.4
12.8
14.7
14.5
27.0
13.6
11.8
11.6
11.7
.9
-2.3
3.4
5.0
5.6
. NOTE. — The implicit price deflator for GNP is a weighted average of the detailed price
indexes used in the deflation of GNP. In each period, the weights are based on the composition
of constant-dollar output in that period. In other words, the price index for each item (1972=
1°°) if. weighted by the ratio of the quantity of the item valued in 1 972 prices to the total output
in 1972 prices. Changes in the implicit price deflator reflect both changes in prices and changes
Federal:
Current dollars .. - ...
1972 dollars
Implicit price deflator...
Chain price index
Fixed- weighted
price
index
National defense:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted
price index
Nondefense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index...
Fixed-weighted
price index
State and local:
Current dollars
1972 dollars
Implicit price deflator. .Chain price index
Fixed-weighted
price
index..
35.0
5.9
27.5
23.6 _
Addenda:
Nonfarm:
Current dollars
1972 dollars
Implicit price deflator
Chain price index...
Fixed-weighted
price index
Disposable personal income:
Current dollars
1972 dollars...
10.1
9.5
12.2
3.1
in the composition of output. The chain price index uses as weights the composition of output
in the prior period, and therefore reflects only the change in prices between the two periods,
However, comparisons of percent changes in the chain index also reflect changes in the composition of output. The fixed- weighted price index uses as weights the composition of output
in 1972. Accordingly, comparisons over any time span reflect only changes in prices.
19
SUKVEY OF CUERENT BUSINESS
20
September 1981
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National Income and
Product Accounts (NIPA's) to Balance on Goods and Services in the Balance of Payments Accounts (BPA's)
[Billions of dollars, seasonally adjusted at annual rates]
1981
Line
I
1 Exports of goods and services, BPA's
2 Less: Gold, BPA's
3
Capital gains net of losses in direct investment income receipts. _ .
4
Statistical differences l- ...
5
Other items
6 E quals : Exports of goods an d services, NIPA's
7
8
9
10
11
12
13
14
Imports of goods and services, BPA's
Less: Payments of income on U.S. Government liabilities _
Gold, BPA's .
Capital gains net of losses in direct investment income payments
Statistical differences l
Otheritems
..
Plus: Gold,NIPA's
15
16
17
18
19
20
21
Balance on goods and services, BPA's (1-7)
Less: Gold (2-9+13)
Capital gains net of losses in direct investment income (3-10)
Statistical differences (4-11)
Other items (5-12)
Plus: Payments of income on U.S. Government liabilities (8).
E quals: Net exports of goods and services, NIPA's (6-14)
._
.- .
..
__ __
Equals: Imports of goods and service's NTPA's
.
__
II
377.7
5.5
1.5
3.0
.4
367.4
379.4
51
2.6
3.0
4
368.2
358 6
15.8
3.8
2
1.0
369 0
17.0
4.1
— 1
1.0
.4
338 2
.6
347.5
19.2
2.1
1.3
2.0
.4
15.8
29.2
10.4
1.5
2.7
2.0
.4
17.0
20.8
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.
NIPA Errata
The following errata have been identified in Nationa Income and
Product Accounts, 1976-79, Special Supplement to the SURVEY OF
CURRENT BUSINESS, published in July 1981 :
Table
Line
Period
Published
Correct
3.9
7
1977
1978
1979
1977
1978
1979
1977
1978
1979
1977
1978
1979
1976
1977
1978
1979
1976
1977
1978
1979
1, 323
1, 492
1, 943
1, 029
1, 283
1, 541
1. 0
1. 1
1. 3
.7
.8
.9
61, 177
65, 731
70,735
76, 558
51, 850
56, 460
62,043
67, 122
1,029
1,283
1,541
1,323
1,492
1, 943
Table
Line
Period
Published
Correct
7.15
7
1977
1978
1979
1977
1978
1979
1976
1977
1978
1979
1976
1977
1978
1979
130.0
139.6
150.3
155. 2
161. 2
175. 1
131.4
139. 8
148.7
158. 9
118.8
124. 4
131.9
141. 2
155. 2
161.2
175.1
130.0
139.6
150.3
133.0
141. 1
150.5
160.5
132. 9
135.8
146.9
155. 0
8
8
3.10
7
8
6. 5B
84
85
.7
.8
.9
1.0
1.1
1.3
72, 352
78, 556
85, 124
93, 193
59, 898
65, 486
72, 358
79, 136
7.22
22
24
The following errata have been identified in "Selected National Income
and Product Account Tables" in the July 1981 SURVEY OF CURRENT
BUSINESS:
Table
5.4
5.5
7. 19
Line
Period
Published
Correct
1
1
1
1980
1980
1980
210, 906
94.5
223.2
267, 582
120. 6
222.0
By JOHN T. WOODWARD
•••BBO^^^^Hi
CHART 4
Plant and Equipment Expenditures
Billion $ (Ratio scale)
300-
Plant and Equipment Expenditures,
the Four Quarters of 1981
200
150
:,a: 1'»» t\.rii ifa
100
rn'J»i'VI ii'if I t:fi I
60
50
40
30
20
15
15
10
8
6
5
40
t;rh^{^^
30
20
15
t-feli tit 111 JA|;J til 11 iIiill i. fa IKtJI '-t'. it I > V > 1*:i.1
10
100
80
60
50
40
30
25
b'iH&fM4i^»Vl:VrV!!&^
i
40 :%&ip^^
30
20
fiJiV&ri'i'lVi->h'i>ijtTt'ii-.t't'-ii¥4'H;i-1-iV'i'j411»I in
15
72
1970
74
76
78
Seasonally Adjusted at Annual Rates
o Planned
U.S. Department of Commerce, Bureau of Economic Analysis
80
nonfarm business plans to
spend $321.5 billion for new plant and
equipment in 1981, 8.8 percent more
than in 1980, according to the BE A survey conducted in late July and August
(table 1 and chart 4).1 An 8.4-percent
increase was reported in the April-May
survey and a 10.2-percent increase was
reported in the January-February survey. Spending in 1980 was $295.6 billion, 9.3 percent more than in 1979.
Eespondents to the quarterly survey
are not asked to report information on
price changes reflected in actual or
planned spending. Estimates of actual
real (constant-dollar) spending have
been constructed as companions to the
current-dollar estimates (see tables A
and B). These estimates indicate that
real spending increased 0.8 percent in
1980. The implicit price deflator for
total plant and equipment expenditures derived from them indicates that
capital goods prices rose 9 percent from
the second quarter of 1980 to the second
quarter of 1981. If business expects
similar increases in capital goods prices
for the remainder of this year, the survey results imply a slight decrease in
real spending—about 0.3 percent—
from 1980 to 1981. Real spending increased 2.8 percent in the first quarter
and declined 1.7 percent in the second.
Current-dollar spending in the second
quarter increased 1.4 percent, to a seasonally adjusted annual rate of $316.7
1. Plans have been adjusted for biases (table
6, footnote 1). The adjustments were made for
each industry. Before adjustment, plans for 1981
were $130.14 billion for manufacturing and
$191.65 billion for nonmanufacturing. The net effect of the adjustments was to lower manufacturing $3.35 billion and to raise nonmanufacturing
$3.07 billion.
billion, following a 4.2-percent increase
in the first quarter. Plans reported 3
months earlier were for a slight decline
in second-quarter spending; actual
spending was higher than planned in
both manufacturing and nonmanufacturing industries. In manufacturing,
the upward revisions were largest in
machinery, transportation equipment,
food-beverage, textiles, and petroleum.
Table 1.—Expenditures for New Plant and
Equipment by U.S. Nonfarm Business:
Percent Change from Preceding Year
1981 Planned as
reported by
1980
business in:
Actual
Jan.- Apr.- Jul.Feb. May Aug.
Total nonfarm business
Manufacturing
Durable goods 1
Primary metals
Blast furnaces, steel
works____
__.
Nonferrous metals
Fabricated metals
Electrical machinery .
Machinery, except electrical
Transportation
equipment1
Motor vehicles
Aircraft
-.
Stone, clay, and glass
Other durables
_
9.3
10.2
8.4
17.4
12.1
10.4
9.5
15.3
14.1
12.8
6.5
8.6
9.0
6.8
6.6
6.4
30.4
-3.0
31.8
-.6
15.3
9.9
25.7
-2.9
20.2
1.3
15.4
-3.0
12.4
-3.0
11.0
8.8
10.2
20.6
12.9
14.8
18.5
9.1
33.4
-3.0
20.8
5.6
.4
8.5
2.1
16.0
3.5
6.8
-1.7
-9.2
21.4
3.1
13.3
-7.3
-15.2
16.3
Nondurable goods
___ 19.5
Food including beverage. 11.7
7.6
Textiles. _.
Paper
22.6
16.8
Chemicals
Petroleum
27.6
-20.2
Rubber
27.1
Other nondurables
11.4
7.1
6.2
-1.1
4.1
21.7
32.7
5.9
12.3
13.8
-.4
-.9
.2
26.8
.8
7.5
12.2
12.9
-1.1
-3.8
.4
27.1
3.8
9.4
Nonmanufacturing _
4.7
18.7
Mining
-2.1
Transportation
5.6
Railroad
.1
Air
-11.3
Other
4.4
Public utilities
1.7
Electric
16.1
Gas and other
3.2
Trade and services
Communication and other. 6.2
8.9
7.1
8.3
17.4
6.5
3.4
2.5
14.1
8.0
7.6
9.6
6.3
13.4
25.2
.4
3.3
-9.0
7.2
5.1
2.9
13.7
4.2
11.1
21.9
.5
4.1
-10.3
7.7
4.1
2.6
10.2
6.7
13.3
1. Includes industries not shown separately.
21
SURVEY OF CURRENT BUSINESS
22
In nonmanufacturing, public utilities
and trade and services accounted for the
higher spending levels.
Plans indicate that spending will increase 2 percent in the third quarter and
3 percent in the fourth. The levels of
planned spending in these quarters are
little changed from those reported in
CHART 5
Starts and Carryover of Investment
Billion $ (Ratio scale)
September 1981
Table 2.—Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
[Billions of dollars; quarters seasonally adjusted at annual rates]
1979
Total nonfarm business
Plant
Equipment
Manufacturing
Plant
Equipment.
~
Durable goods
Plant
Equipment
Nondurable goods..
Plant
Equipment
Nonmanufacturing
Plant
Equipment
Mining
Plant
Equipment
Transportation
Plant
Equipment
Public utilities....
Plant
Equipment
Trade and Services
Plant
Equipment
Communication and other l.
Plant
Equipment
M179
1980
19 80
1981
III
IV
I
II
III
IV
I
II
270. 46
105 73
164 73
295. 63
117 55
178 08
273.15
106 58
166 56
284.30
108 60
175 70
291 89
115 96
175 93
294 36
116 50
177 86
296 23
117 59
178 64
299 53
120 27
179 32
312 24
183 67
ICE
98.68
30 82
67.86
115. 81
36 06
79 76
100.11
31 39
68 71
106 57
31 82
74 76
111 77
33 83
77 94
115 69
36 35
79 35
116 40
37 09
79 31
118 63
36 89
81 74
124 50
39 03
85 47
125 49
51.07
14.00
37 07
47.61
16.83
30.78
58 91
16.28
42 63
56.90
19.78
37 12
52 13
14 12
38 01
47 97
17.27
30 70
77
27
50
86
62
24
61 24
16 50
63 10
16 60
63 27
22 54
40 73
62 40
23 66
171. 77
74 90
96.87
179 81
81 49
98.32
173 04
75*19
97.85
177 73
76 78
100 95
180 13
82 13
98 00
178 66
80*15
98 51
179 83
80 50
99 33
180 95
83 37
97 58
187 7/1
1Q1 24
89 54
98 20
90 79
100 45
11.38
5.75
5.63
12.35
2.75
9.60
33.96
21. 61
12.35
79.26
32.39
46.87
34.83
12 41
22.42
13 51
7 75
5.76
12.09
2.99
9.10
35.44
23 00
12.44
81.79
35.23
46.56
36.99
12 52
24 46
11 40
5 85
5.55
12.67
2.81
9.87
35.05
22 62
12 43
78.86
31.72
47 14
35 05
12 19
22 86
11 86
6 36
5 51
13.20
2 87
10.32
34. 08
21 41
12 67
82.69
33.68
49 00
35 90
12 46
23 44
11 89
6 52
5 37
12.47
3 22
9 25
36 26
23 64
12 62
82 17
36 13
46 04
37 34
12 62
24 72
12 81
7 11
5 70
12 09
2 93
9 is
35 03
22 55
12 48
81 07
34 30
46 77
37 66
13 26
24 40
13 86
8 20
5 66
12 23
2 95
9*28
35 58
22 66
12 92
81 19
34 10
47 08
36 97
12 59
24 38
15 28
9 01
6 27
11 70
2 96
8*73
34 96
23 10
11 86
82 91
36 57
46 35
36 11
11 73
24 38
16 20
9 98
6 22
11 74
3 13
8 61
36 05
23 01
13 04
83 43
39 63
43 80
40 32
13 79
26 53
16 80
11 07
5 73
11 70
3 18
8 52
37 84
25 29
12 55
85 88
38 59
47 29
39 02
12 66
26 36
55
14
40
51
16
34
03
89
14
55
93
62
58
16
41
53
17
36
28
48
79
49
35
14
59
16
49
56
19
36
38
99
3g
32
35
96
58
16
41
58
20
37
19
72
47
21
37
83
59
15
44
58
21
37
316
73
10-1 AC
198 57
CO
Aft OC
85 23
AA 74
AC. Kft
oo 70
1. Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
Table 3.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and
Public Utilities
[Billions sf aollarsj
Carryover 2
Starts i
1979
1980
1980
I
II
1981
III
IV
I
II
1980
1981
Mar. June Sept. Dec.
Mar. June
Manufacturing.
Durable goods 3
.
Primary metals
Electrical machinery
Machinery, except electrical
Transportation equipment
Stone, clay, and glass
Nondurable goods 3._
Food including beverage..
Paper.i
Chemicals
112.98 123.32 31.35 29.92 27.26 34. /9 34.88 33.01
82.60 83.66 81.94 82.85 90.84 92.46
59.18 57.67 15.31 13.21 13.39 15.76 15.30 17.98
7.72 7.91 2.42 1.36 1.94 2.20 2.07 2.89
8.16 10.25 2.53 2.78 2.33 2.62 2.36 2.67
39.49 37.90 36.80 35.48 37.54 39.69
7.91 7.36 7.23 7.30 7.78 8.68
4.78 5.35 5.33 4.74 5.05 5.19
Public utilities
21.67 43.69 19.96
•Pfttroleiym^.
12.66 10.72 2.98
2.18
2.52
3.03
3.33
3.78
19.01 16.50 4.08
3.70 3.46 1.08
4.08
.84
3.53
.51
4.80
1.02
4.81
.94
6.04
.61
12.82 12.18 11.24 10.97 11.65 12.68
2.45 2.28 1.89 1.92 2.11 1.93
53.80 65.65 16.03 16.72 13.87 19.02 19.58 15.03
7.49 7.41 1.40 1.98 1.77 2.26 1.87 2.53
6.67 7.74 1.97 2.06 1.45 2.26 1.39 1.31
12.34 14.01 4.10 3.41 3.07 3.44 3.83 2.74
18.26 26.63 5.69 6.68 5.81 8.46 9.79 5.40
43.11 45.76 45.14 47.38 53.30 52.77
4.84 4.85 4.80 4.98 5.03 5.44
5.91 6.30 6.04 6.23 6.15 5.87
11.01 11.23 11.08 10,99 12.10 11.84
15.86 17.80 18.15 20.06 24.35 23.40
7.67
1.92 14.14 18.90
8.96
6.83
6.15
5.92
5.54
6.07
6.56
130.05 128.88 121.83 126.35 137.30 136.79
Seasonally adjusted
Manufacturing
1970
72
* Carry over as of end of period.
82.16 82.65 81.29 85.16 89.44 90.97
15.70 12.39 13.94 15.48 15.50 17.49
2.56 1.37 1.94 2.08 2.15 2.87
2.50 2.79 2.57 2.39 2.34 2.62
39.44 36.99 36.38 39.62 37.12 38.84
7.85 7.27 7.21 7.50 7.69 8.52
4.68 5.17 5.25 5.11 5.00 4.96
Nondurable goods '.
Food including beverage
Paper
Chemicals
Petroleum
Public utilities
80
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
32.43 29.41 27.74 33.53 35.41 32.90
Durable goods 3
Primary metals
Electrical machinery
Machinery, except electrical
Transportation
equipment
.
Stone, clay, and glass ..
819-5
5.90
6.48
2.97
2.06
2.52
3.12
3.26
3.82
4.30
1.05
3.33
.74
3.83
.59
4.92
1.07
5.02
.84
5.51
.58
12.99 11.69 11.14 11.42 11.69 12.30
2.44 2.21 1.86 2.03 2.05 1.86
16.73 17.02 13.80 18.04 19.90 15.41
1.61 1.97 1.83 1.99 2.05 2.60
1.97 2.08 1.59 2.10 1.36 1.27
4.43 3.28 2.91 3.48 3.90 2.74
5.66 7.44 5.65 7.73 9.71 6.11
42.72 45.66 44.91 48.24 52.32 52.13
4.80 4.87 4.83 5.00 4.92 5.47
5.82 6.19 6.06 6.41 6.03 5.70
11.10 11.16 10.77 11.28 11.98 11.72
15.38 18.03 18.32 20.22 23.60 23.20
12.01 12.96
4.20 14.88 10.10 13.78
6.84
6.02
5.78
5.81
128.72 128.72 124.03 130.16 131.25 135.57
1. Starts are estimated by adding changes in carryover to expenditures during the given period.
2. Carryover refers to expenditures yet to be incurred on plant and equipment projects already underway at the
end or the period.
3. Includes industries not shown separately.
September 1981
the April-May survey; downward revisions in manufacturing were offset by
upward revisions in nonmanufacturing.
Spending for new plant increased 2
percent in the second quarter, to an annual rate of $131.0 billion; spending for
new equipment increased 1 percent, to
$185.7 billion (table 2). Spending for
new plant was 41.4 percent of total capital spending and spending for new
equipment was 58.6 percent.
The Economic Recovery Tax Act of
1981, embodying the President's economic program of tax changes and
other measures designed to stimulate
investment, was signed in mid-August
while the latest survey was being conducted. (For a description of the major
features of the Act, see pp. 5-6 of the
August SURVEY OF CURRENT BUSINESS.)
Because of the uncertainties as to the
specific provisions to be contained in
the Act prior to its passage by Congress
and because experience indicates that
changes in investment plans by business in response to changing economic
conditions and Government actions
usually require several months, it is
unlikely that the impact of the new
measure would have been reflected appreciably in the survey results. Continued higth interest rates and depressed
cash flows could further delay or dampen the response by business to the new
investment incentives.
SUEVEY OF CUREENT BUSINESS
23
Constant-Dollar Estimates of Plant and Equipment Expenditures
Tables A and B introduce estimates of plant and equipment expenditures in 1972 dollars; the
methodology and estimates for earlier periods are presented in the article beginning on p. 21.
The tables below will be included in this quarterly article.
Table A.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business
[Billions of 1972 dollars; quarters seasonally adjusted at annual rates]
1979
Total Nonfarm Business.... .
III
IV
I
II
III
IV
I
II
157.28
158.52
157. 60
160. 91
161. 87
159. 27
157. 36
155. 61
159. 94
157. 21
55.26
60.10
55.86
58.18
60. 23
60.61
59.88
59.69
61.96
60-. 38
Durable goods
Primary metals '
Blastfurnaces . _
Nonferrous metals.. L
Fabricated metals
Electrical machinery.
Machinery, except electrical
Transportation equipment 1
Motor vehicles
Aircraft .
Stone, clay, and glass
Other durables.
29 55
3.73
1.68
1.33
1.77
4.45
0. 28
8.67
4 71
2.95
2.21
2.44
31 78
3 94
1.69
1.57
1.59
5 52
6.45
9.59
4 69
3 78
1 97
2.72
30 03
3 78
1.77
1.25
1.76
4 44
6.64
8.97
4 92
3 07
2.15
2.30
31 11
3 96
1 92
1.31
1.72
5 04
6 81
9 01
4 83
3 36
2 16
2.41
32 32
4 20
1 95
1.52
1.72
5 25
6.49
9.84
4 81
4 06
2.15
2.67
32 15
4 01
1.81
1.49
1.59
5 37
6 44
9.80
4 69
3 99
2.01
2.92
31 14
4 02
1 62
1.68
1.62
5 73
6 12
9.20
4 56
3 58
1 91
2.55
31 52
3 54
1.36
1.57
1.42
5 72
6 76
9.53
4 72
3 50
1.82
2.73
31 89
3.83
1.37
1.70
1.51
5.47
6.88
9.72
5 06
3.66
1.64
2.95
32.07
3.85
1.36
1.80
1.41
5.79
6.78
9.79
4 98
3.84
1.46
3,00
Nondurable goods.
Food including beverage .
Textiles..
Paper
Chemicals
.
Petroleum
Rubber
Other nondurables
25.71
3.80
28.32
3.92
25.82
3.65
27.07
3 82
27.91
3.93
28.46
4.05
28. 17
3 78
29.97
4.37
.88
.76
28. 30
3.98
.88
.84
28.74
3.93
.88
3 30
6 38
8 51
1.15
3 04
3 55
6 88
8.35
1.01
3 31
3 68
6.78
8.56
3 67
6 89
9.31
3 64
6 12
9 59
3 55
6.55
10.42
3 19
5.89
10.27
.82
.90
.88
3 62
3 17
3 34
3.42
3 33
102 72
Manufacturing
Nonmanufacturing
Mining
Transportation ...
Public utilities
Trade and services
Wholesale and retail trade
Finance, insurance, and real
estate
Personal, business, and prof. svcs.
Communication and other
Communication
Other 2
.85
.85
.89
.80
.79
3.18
6.09
7.74
1.25
2.80
3 64
6.67
8.95
3 36
3 17
6 21
7.70
1.23
2 98
102. 02
98.42
101. 74
101. 63
98.66
97.48
95.92
97.98
96.83
5.14
6.83
18.27
49.08
13.48
5.25
6.13
17.47
47 16
12 11
5 04
6.93
18.69
48 30
13.32
5
7
17
49
13
10
06
70
88
74
4 93
6 50
18.51
48 19
12 66
5 11
6.13
17.47
46 90
12.96
5 32
6.13
17.33
46 60
11.82
5 65
5 74
16.55
46 94
10 98
5.77
5.71
16.82
46.45
10.94
5 62
5.53
17.07
46 70
11.67
18.81
16.79
22.70
16 73
5.97
18 88
16.18
22.42
17 11
5 31
18 52
16.45
22.78
17 03
5 75
19 62
16.52
22 98
17 60
5 38
18 86
16.68
23 51
18 15
5 36
18 27
15.67
23.04
17 70
5 34
18 77
16.01
22.09
16 91
5 18
19 61
16.35
21.03
15 66
5 37
18.83
16.67
23.23
17 76
5.47
18 39
16.64
21.91
16 63
5.28
.93
.93
.97
1. Includes industries not shown separately.
2. Includes construction; social services and membership organizations; and forestry, fisheries, and agriculture 1 services.
Table B.—Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
[Billions of 1972 dollars; quarters seasonally adjusted at annual rates]
19 80
1979
Manufacturing Programs
For the year 1981, manufacturers
plan a 9%-percent spending increase—
12 percent in nondurables and 7 percent
in durables; last year, manufacturers
increased their spending 17y2 percent.
In nondurables, the largest planned increase for 1981 is in the petroleum
industry, 27 percent. Food-beverage
plans a 13-percent increase, and "other
nondurables," 9% percent. Small declines are planned by textiles and paper.
In durables, the largest planned increase is in "other durables," 16% percent, and reflects strong increases by
producers of instruments and miscellaneous manufactured products. Nonelectrical machinery plans a 15-percent
increase. Other sizable increases—13^11 percent—are planned by motor
19 81
1980
1979
1980
1Q7Q
Total nonfarm business. .
Plant
Equipment
Manufacturing.
Plant..
Equipment
Durable goods
Plant...
Equipment
Nondurable goods
Plant
Equipment..
Nonmanufacturing
Plant .
Equipment..
Mining .
Plant
Equipment
Transportation
Plant
Equipment
Public utilities
Plant .
Equipment..
Trade and Services
Plant .
Equipment ..
Communication and other L.
Plant
Equipment .
19 31
IQQft
III
IV
I
II
III
IV
I
II
157 28
53.81
103 47
158 52
52 92
105 61
157 60
53.54
104 06
160 91
52 75
108 16
161 87
54.76
107 10
159 27
52 87
106 39
157. 36
51.87
105 49
155. 61
52.16
103 45
159. 94
55.24
104. 70
157. 21
54.33
102. 87
55.26
14 98
40 28
60.10
15 34
44 76
55.86
15 13
40 72
58 18
14 74
43 44
60 23
15 26
44 97
60 61
15 70
44 91
59.88
15 48
44 40
59.69
14.92
44 77
61.96
15.73
46 24
60.38
15.68
44.70
29 55
7.26
22 28
25.71
7 71
18.00
31 78
7 59
24 20
28.32
7 75
20.57
30 03
7 26
22 78
25.82
7 gg
17.95
31
7
23
27
7
19
32
7
24
27
7
20
32
95
37
91
31
60
32 15
7 88
24 27
28 46
7 82
20.65
31 14
7.63
23 51
28.74
7 85
20.88
31 52
6.89
24 63
28.17
8 03
20.14
31 99
7.41
24.58
29.97
8.31
21.65
32.07
7.26
24.81
28.30
8.42
19.89
102. 02
38.83
63.19
98.42
37 58
60.85
101. 74
38 41
63.34
102. 72
38 00
64.72
101. 63
39 50
62.13
98 66
37 18
61.48
97.48
36.39
61.09
95.92
37.24
58.68
97.98
39.51
58.46
96.83
38.66
58.18
5.14
2.19
2 95
6.83
1.42
5.41
18.27
10. 98
7.29
49.08
17.40
31.68
22.70
6.83
15.87
5.25
2.48
2 78
6.13
1.40
4 72
17.47
10.50
6.96
47.16
16.86
30.30
22.42
6.34
16.08
5.04
2.19
2 85
6.93
1.44
5 49
18.69
11.39
7.30
48.30
16.74
31.55
22.78
6.64
16.14
5 10
2.30
2 80
7 06
1.43
5 63
17 70
10.45
7.24
49 88
17.19
32.68
22.98
6.63
16.36
4 93
2.25
2 68
6 50
1.55
4 94
18.51
11.26
7.25
48.19
17.88
30.32
23.51
6.56
16.94
5 11
2.33
2 78
6.13
1.36
4 77
17.47
10.40
7.07
46.90
16.38
30.52
23.04
6.70
16.35
5.32
2.60
2.72
6.13
1.34
4.79
17. 33
10.16
7.17
46.60
16.03
30.57
22.09
6.25
15.83
5.65
2.73
2.92
5. 74
1.35
4.40
16.55
10.19
6. 36
46.94
17.15
29. 80
21.03
5.83
15.20
5.77
2.91
2.85
5.71
1.41
4.30
16.82
10.01
6.81
46.45
18.38
28.06
23.23
6.79
16.43
5.62
3.08
2.54
5.53
1.39
4.14
17.07
10.70
6.38
46.70
17.45
29.25
21.91
6.04
15.87
11
39
71
07
35
73
1. Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
SUKVEY OF CUEEENT BUSINESS
24
September 1981
Table 4.—Manufacturers9 Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates l
[Seasonally adjusted]
Operating rates (percent)
Industry and asset size
1980
Mar.
All manufacturing
.
.
._
Asset size:
$100 0 million and over
$10.0 to $99.9 million
Under $10 0 million
Durable goods 2.
__
.
.
Asset size:
$100 0 million and over.
$10.0 to $99.9 million
Under $10 0 million
Primary metals
Electrical machinery
Machinery, except electrical3
Transportation equipment
Motor vehicles
Aircraft
Stone, clay, and glass
._
.
. -
-- -
_.
..
-
Nondurable goods *
Asset size:
$100 0 million and over
$10 0 to $99 9 million
Under $10.0 million
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
' .
_
Primary-processed goods *
Advanced-processed goods '
_ _.
.
-.
.
.
June
1981
Sept.
vehicles, nonferrous metals, and electrical machinery. Stone-clay-glass plans
a 15-percent decline; smaller declines
are planned by aircraft, fabricated
metals, and iron and steel.
Spending by manufacturers increased
1 percent in the second quarter, to a
seasonally adjusted annual rate of
$125.5 billion, after a 5-percent increase
in the first quarter. A 2^-percent increase is planned for the third quarter;
the increase is in nondurable goods
industries. In the fourth quarter, a onehalf of 1 percent decline is planned;
nondurable industries account for it.
Manufacturing projects started in
the second quarter totaled $32.9 billion,
7 percent less than in the first quarter
(table 3 and chart 5); the decline was
in nondurable goods, where it was concentrated in the petroleum and chemical industries. Paper reported a small
decline. Durable goods industries reported a sizable increase; primary
Dec.
1980
June
Mar.
Mar.
June
1981
Sept.
Dec.
Mar.
June
80
76
76
78
78
78
0.86
0.81
0.81
0.84
0.83
0.84
82
79
74
77
77
70
77
78
71
80
78
72
80
78
74
79
78
75
.87
.85
.80
.82
.83
.77
.82
.84
.78
.85
.84
.79
.84
.84
.80
.84
.84
.81
80
74
75
78
77
77
.84
.79
.79
.83
.82
.82
82
77
73
75
73
70
76
74
71
80
75
72
79
75
72
79
75
71
.86
.83
.79
.79
.79
.77
.80
.80
.78
.84
.81
.78
.83
.81
.77
.83
.81
.78
82
82
91
74
70
79
75
69
78
89
67
60
78
71
66
79
89
71
67
78
73
77
79
90
74
70
80
74
79
78
89
72
69
77
74
77
76
90
73
73
75
71
.87
.90
.96
.76
.69
.85
.81
.74
.85
.95
.69
.60
.84
.78
.70
.86
.94
.73
.66
.85
.80
.83
.86
.96
.75
.70
.86
.81
.86
.85
.94
.74
.69
.83
.79
.83
.84
.95
.75
.72
.81
.78
81
78
78
78
79
80
.87
.84
.84
.85
.85
.86
83
82
75
80
89
71
80
81
71
80
80
72
81
82
75
80
81
78
.89
.88
.82
.86
.86
.77
.86
.87
.78
.87
.86
.79
.86
.88
.82
.87
.87
.84
77
82
88
82
85
72
77
79
86
76
82
65
76
79
87
78
76
72
75
80
89
78
80
70
79
80
89
78
73
75
79
82
89
77
76
77
.85
.86
.91
.89
.88
.77
.84
.81
.89
.82
.86
.70
.85
.82
.91
.85
.81
.77
.84
.84
.92
.86
.83
.75
.86
.82
.93
.86
.77
.80
.86
.85
.92
.85
.80
.82
81
80
75
76
74
77
78
78
78
78
78
78
.86
.85
.80
.81
.79
.83
.84
.83
.83
.84
.83
.84
'
1. The survey asks manufacturers to report actual and preferred rates of capacity utilization
for the last month of each quarter. Utilization rates for industry and asset-size groups are
weighted averages of individual company rates. See "The Utilization of Manufacturing
Capacity, 1965-73," SURVEY OF CURRENT BUSINESS, July 1974, p. 47.
2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous.
3. Also includes other transportation equipment.
Ratios of operating to preferred rates
4. Also includes tobacco, apparel, printing-publishing, and leather.
5. Consists of lumber; stone, clay, and glass; primary metals; fabricated metals; textiles;
paper; chemicals (at Yz weight); petroleum; and rubber.
6. Consists of furniture, electrical machinery, machinery except electrical, motor vehicles,
aircraft, other transportation equipment, instruments, food including beverage, tobacco,
apparel, printing-publishing, chemicals (at ^ weight), leather, and miscellaneous.
Table 5.—Manufacturers' Evaluation of Their Plant and Equipment Facilities1
[Percent distribution of gross depreciable assets]
1979
1980
1981
June 30
Sept. 30
Dec. 31
Mar. 31
June 30
Sept. 30
Dec. 31
Mar. 31
37.1
35.5
19.5
44.7
38.6
45.7
43.1
37.2
35.9
22.5
44.1
38.5
47.4
43.0
35.5
32.9
17.8
43.5
37.9
44.7
44.9
32.0
29.1
9.9
41.4
34.9
40.8
41.9
32.0
29.0
10.5
40.6
34.9
41.5
41.9
30.6
26.8
10.5
36.3
34.3
43.0
39.6
30.4
26.2
14.9
33.9
34.6
41.0
40.0
31.3
27.4
18.9
34. 7
35.1
41.9
40.2
58.1
57.6
75.0
49.1
58.7
47.0
56.3
57.8
57.0
71.6
49.2
58.7
44.4
56.5
58.1
57.9
76.1
48.6
58.4
47.4
54.1
58.7
57.1
70.8
48.5
60.1
49.6
56.9
59.0
57. 3
73.2
48.5
60.7
50.9
56.5
60.8
59.8
72.6
53.8
62.0
49.4
59.5
61.6
61.2
67.6
57.1
61.9
50.7
58.8
58.5
59.0
65.2
53.7
58.0
51.8
52.3
4.8
6.9
5.5
6.2
2.7
7.3
.6
5.0
7.1
5.9
6.7
2.8
8.2
.5
6.4
9.2
6.1
7.9
3.7
7.9
1.0
9.3
13.8
19.3
10.1
5.0
9.6
1.2
9.0
13.7
16.3
10.9
4.4
7.6
1.6
8.6
13.4
16.9
9.9
3.7
7.6
.9
8.0
12.6
17.5
9.0
3.5
8.3
1.2
10.2
13.6
15.9
11.6
6.9
6.3
7.5
More plant and equipment needed:
AH manufacturing2
Durable goods
Primary metals.3 _
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
About adequate:
All manufacturing
Durable goods 2
Primary metals 3
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
..._
Existing plant and equipment exceeds
needs:
All manufacturing..
.
Durable goods 2
Primary metals 3
Metal products
Nondurable goods 2
Food including beverage
Chemicals and petroleum
1. According to respondent companies' characterizations of their plant and equipment facilities, taking into account
their current and prospective sales for the next 12 months.
2. Includes industries not shown separately.
3. Includes machinery, transportation equipment, and fabricated metals.
SUEVEY OF CUKEENT BUSINESS
September 1981
25
Table 6.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business 1
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally unadjusted
1979
1980
1980
1981 »
1980
1981
I
II
III
IV
I
II
iiiv
IVr
I
II
1981
III
IV
I
II
IIIi
IV i
Total Nonfarm Business
270.46 295.63 321.50
65.18
74.02
74.12
82.31
69.75
79.60
80.42
91.73 291.89 294.36 2%. 23 299.58 312.24 316.73 322.96
332.69
Manufacturing. . .
. 98.68 115.81 126.79
24.10
28.86
28.98
33.87
26.90
31.39
31.84
36.66 111.77 115.69 116.40 118.63 124.50 125.49 128.72
128.11
Durable goods 2
Primary metals
Blast furnaces, steel works
Nonferrous metals
Fabricated metals.
Electrical machinery
Machinery, except electrical2
Transportation equipment
Motor vehicles
Aircraft
Stone, clay, and3 glass
Other durables
51.07
6.76
3.09
2.39
3.05
7.28
10.52
15.32
_..._. 8.30
5.27
3.94
4.22
58.91
7.71
3.29
3.11
2.96
9.59
11.59
18.16
9.06
7.03
3.82
5.09
62.92
8.22
3.19
3.50
2.87
10.65
13. 31
18.71
10.26
6.51
3. 24
5.93
12.54
1.60
.72
.61
.67
1.83
2.55
3.89
2.00
1.50
.90
1.09
14.79
1.91
.86
.72
.75
2.21
2.87
4.72
2.40
1.79
1.01
1.33
14.49
2.07
.84
.85
.76
2.35
2.75
4.47
2.21
1.73
.90
1.19
17.09
2.13
.88
.93
.78
3.20
3.42
5.07
2.46
2.00
1.00
1.48
13.24
1.60
.55
.74
.62
2.05
2.80
4.13
2. 23
1.46
.75
1.29
15.83
1.99
.70
.94
.72
2.52
3.30
5.01
2.71
1.79
.80
1.49
15.59
2.19
.90
.87
.67
2.60
3.42
4.53
2.45
1.59
.78
1.42
18.26
2.44
1.04
.95
.86
3.47
3.80
5.04
2.87
1.67
.92
1.72
58.28
7.98
3.74
2.92
3.14
8.83
11.36
18.06
8.98
7.35
4.06
4.84
59.38
7.84
3.58
2.91
2.97
9.20
11.51
18.50
9.00
7.44
3.91
5.45
58.19
8.02
3.29
3.39
3.05
9.97
11.05
17.54
8.88
6.70
3.74
4.81
59.77
7.17
2.80
3.18
2.72
10.10
12.36
18.58
9.35
6.73
3.61
5.22
61.24
7.84
2.86
3.48
2.92
9.79
12.66
18. 98
10.09
6.98
3.31
5.73
63.10
8.14
2.93
3.82
2.82
10.62
12.94
19.58
10. 22
7.41
3.05
5.94
63.07
8.42
3.49
3.46
2.70
11.13
13. 81
17. 91
9.84
6.22
3. 24
5.87
64.06
8.37
3.35
3,29
3.02
10.88
13.75
18.57
10.85
5.68
3.35
6.13
Nondurable goods
Food including beverage . .
Textiles..
Paper.... .
Chemicals
Petroleum
Rubber
Other nondurables 4
47.61
6.62
1.50
....
5. 55
10.78
16.21
..... 2.17
4.78
56.90
7.39
1.62
6.80
12.60
20.69
1.73
6.08
63.87
8.34
1.60
6.54
12.65
26.30
1.80
6.65
11.56
1.52
.40
1.37
2.66
3.94
.41
1.27
14.06
1.97
.41
1.66
3.19
4.75
.44
1.64
14.50
1.82
.39
1.71
3.22
5.45
.45
1.45
16.78
2.09
.42
2.07
3.52
6.55
.43
1.70
13.66
1.83
.37
1.48
2.72
5.50
.38
1.38
15.56
2.12
.42
1.59
3.01
6.35
.45
1.64
16.25
2.05
.40
1.59
3.14
6.93
.46
1. 69
18.40
2.34
.42
1.88
3.78
7.53
.51
1. 94
53.49
7.14
1.63
6.40
12. 60
18.06
1.84
5. 82
56.32
7.61
1.60
6.82
12.87
19.16
1.73
6.52
58.21
7.46
1.53
6.92
13. 19
21.45
1.83
5.82
58.86
7.29
1.72
6.99
11.87
23.30
1.57
6.12
63.27
8.55
1.53
6. 93
12.81
25.33
1.74
6.37
62.40
8.15
1.62
6. 42
12.01
26. 03
1.76
6.39
65.65
8.51
1.56
6.48
12.87
27.63
1.83
6.77
64.05
8.21
1.69
6.42
12.89
26.00
1.85
7.00
171.77 179.81 194.71
41.08
45.16
45.13
48.44
42.85
48.21
48.58
55.07 180.13 178.66 179.83 180.95 187.74 191.24 194.23
204.58
Nonmanufacturing .
...
Mining
11.38
13.51
16.47
2.74
3.27
3.50
4.01
3.69
4.28
4.05
4.45
11.89
12.81
13.86
15.28
16.20
16.80
16. 12
16.70
Transportation
Railroad
Air
Other...... .
12.35
4.03
4.01
4.31
12.09
4.25
4.01
3.82
12.15
4.43
3.60
4.12
2.73
.99
.90
.84
3. 31
1.06
1.27
.98
3.00
1.00
.93
1.07
3.05
1.20
.91
.94
2.58
.96
.88
.74
3.12
1.12
.97
1.03
2.75
1.05
.65
1.04
3.70
1.30
1.09
1.31
12.47
4.46
3.90
4.11
1209
4.06
4.27
3.76
12. 23
3.98
4.06
4.18
11. 70
4.54
3.77
3.39
11.74
4.23
3.85
3.66
11. 70
4.38
3.29
4.04
11.07
4.22
2.84
4.00
13.88
4.84
4.44
4.60
33.96
27.65
6.31
35.44
28.12
7.32
36.91
28.84
8.07
8.01
6.64
1.37
8.84
7.07
1.77
8.97
6.89
2.08
9.62
7.53
2.10
7.95
6.36
1.59
9.47
7.37
2.10
9.28
7.21
2.07
10.21
7.89
2.32
36.26
28.98
7.28
35.03
27.91
7.12
35.58
28.14
7.44
34. 96
27.54
7.41
36.05
27. 69
8.36
37.84
29.32
8. 53
36.79
29.41
7.38
37.00
28.84
8.16
Trade and services
79.26
Wholesale and retail trade
22.61
Finance, insurance, and real estate. . .29. 63
27.02
Personal, business, and prof, svcs
81.79 87.30
21. 78
31.93 ----28.08
19.08
5.29
7.31
6.49
20.23
5.54
7.77
6.92
20.38
5.48
7.88
7. 03
22.09
5.47
8.98
7.64
19.41
4.78
7.62
7.00
21.44
5.46
8.17
7.81
21.52
24.93
82.17
22. 34
31.56
28.28
81.07
23.28
30.82
26.97
81.19
21.43
31.82
27. 94
82. 91
20.25
33.55
29.11
83.43
20.57
32.83
30.03
85. 88
22.54
32.60
30.74
86.55
92. 68
Communication and other
Communication
Other 6
36.99
26. 16
10.82
8.52
6.04
2.48
9.52
6.77
2.75
9.28
6.60
2.68
9.67
6.76
2.91
9.23
6.50
2.73
9.90
6.95
2.95
10.99
11.78
37.34
26.81
10.54
37.66
26.78
10.88
36. 97
26.32
10.66
36.11
24.89
11.22
40.32
28.68
11.64
39.02
27.45
11.57
43.70
44.31
.
Public utilities
Electric... .
Gas and other.
34.83
23.78
11.05
41. 89
1. Estimates are based on planned capital expenditures reported by business in late July
and August 1981. The planned expenditures for 1981 have been corrected for biases. The adjustment procedures are described in the October 1980 SURVEY. Before adjustment, plans for
1981 were $321.79 billion for total business, $130.14 billion for manufacturing, and $191.65 billion
for nonmanufacturing.
metals, nonelectrical machinery, and
transportation equipment reported the
largest increases.
The value of new projects started by
manufacturers in the second quarter exceeded their capital expenditures, resulting in an increase in carryover. At
the end of June., carryover totaled $91
billion, $1.5 billion higher than at the
end of March.
Capacity utilization
The utilization of manufacturing
capacity was 78 percent in June, unchanged from March and December
(table 4); this rate is 2 points above
the recession trough in June and September last year and 6 points below the
prerecession peak of 84 percent in
March 1979.
354-680 0 - 8 1 - 4
2. Includes industries not shown separately.
3. Consists of lumber, furniture, instruments, and miscellaneous.
4. Consists of apparel, tobacco, leather, and printing-publishing.
5. Consists of construction; social services and membership organizations; and forestry,
fisheries, and agricultural services.
Utilization rates for most industry
groups showed only small changes from
March to June. The largest change was
in motor vehicles, up 4 points, to 73 percent ; nonelectrical machinery increased
1 point, to 90 percent. Stone-clay-glass
declined 3 points, to 71 percent; aircraft, electrical machinery, and primary metals each declined 2 points, to
75, 76, and 77 percent, respectively. In
nondurables, petroleum increased 3
points, to 76 percent, and textiles and
rubber increased 2 points, to 82 and 77
percent, respectively.
Utilization rates for primary- and
advanced-processed goods industries, at
78 percent, were unchanged from
March to June.
The rate for large-sized firms declined 1 point, to 79 percent. The rate
for medium-sized firms was unchanged,
at 78 percent. Small firms increased 1
point, to 75 percent.
Manufacturing companies owning
31i/£ percent of fixed assets reported a
need as of the end of June for more facilities, an increase of 1 percentage
point from the end of March (table 5).
Facilities viewed as about adequate declined 3 points, to 58i/£ percent, and
those viewed as exceeding needs increased 2 points, to 10 percent.
Nonmanufacturing Programs
For the year 1981, an 81^-percent increase is planned in nonmanufacturing;
spending increased 4^/2 percent in 1980.
All major groups except air transporta(text continued on p. W
By MICHAEL J. McKELVEY
Constant-Dollar Estimates of New Plant and Equipment
Expenditures in the United States, 1947-80
JL HIS article presents quarterly and obtained by dividing the current-dollar
annual constant-dollar estimates for estimates by specially constructed
1947-80 of new plant and equipment implicit price deflators for industries.
(P&E) expenditures that are companThis article has two sections and a
ions to the current-dollar estimates com- technical note. The next section prepiled from the BEA P&E survey. These sents the constant-dollar estimates. The
estimates substantially extend and im- second section briefly describes the
prove the information available for methodology used to derive the implicit
analysis of capital expenditures. They, price deflators and the constant-dollar
like the current-dollar estimates, cover estimates, and introduces the deflators
nonf arm business and are on a company
NOTE.—George R. Green, Chief of the Busibasis.1 The constant-dollar estimates are ness Outlook Division, played an important
1. P&E expenditure data are collected from
companies, not from establishments. Each company may have one or more establishments, with
operations in one or more industries. A single industry classification is assigned to each company
based on its primary activity—on the activity
with the largest volume of sales or payrolls—and
its total expenditure is included in that industry.
role in the formulation of methodology and
procedures for this project and provided general supervision. During the early stages of
this project, significant contributions were
made by: Ronald G. Allan, Marie P. Hertzberg, Virginia K. Olin, Benjamin Patton,
Arlene K. Shapiro, and Beatrice N. Vaccara.
Table 1.—Average Annual Rates of Increase for Plant and Equipment Expenditures by
Company-Based Industry, Constant 1972 Dollars
[Percent]
, 1947-80
Total nonfarm business
..
ManufacturingDurable goods
Primary metals *_
__
Blast furnances
Nonferrous metals _ _
_
Fabricated metals
_
Electrical machinery
._
Machinery except electric _
Transportation equipment *
Motor vehicles
______
Aircraft
_
Stone, clay and2glass
Other durables .
Nondurable goodsFood and beverage
___
Textiles
_
Paper
Chemicals
Petroleum..
_
Rubber
_
Other nondurables 3
Nonmanufacturinff
Mining..
Transportation
Public utilities. ...
Trade and services
Wholesale and retail trade
Finance, insurance, and real estate
Personal, business and professional services
Communications and other
Communications
Other <_
:
_
_
_ ..
.
...
_ .
'
_
.
._ -.
_
_
_
._ _
_. _.
...
_
__
_
1947-72
1972-80
3.8
3.9
3.6
3.5
2.4
6.9
4.4
2.4
1.6
4.2
2.0
6.8
5.3
5.4
3.5
12.2
3.0
3.8
3.5
1.2
.3
3.5
2.2
6.2
4.2
3.8
2.8
8.7
2.4
4.7
7.3
6.2
5.9
6.2
1.4
8.9
9.1
10.2
5.8
23.9
5.1
.9
2.7
1.8
-.9
45
3.2
2.7
2.2
3.7
1.5
1.6
-.2
2.1
1.4
1.0
3.3
3.1
6.5
2.3
-2.8
12 2
8.9
8.1
-1.2
55
4.1
3.8
.8
4.8
4.4
2.7
6.3
4.3
4.8
5.9
2.8
4.8
2.6
1.4
6.1
5.1
3.1
7.0
5.5
5.7
6.4
4.6
1.9
78
—1.1
.9
2.1
1.3
4.2
.7
2.1
4.3
—2.9
1. Includes industries not shown separately.
2. Consists of lumber, furniture, instruments, and miscellaneous.
3. Consists of apparel, tobacco, leather, and printing-publishing.
4. Consists of construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
26
and the fixed-weighted price indexes
for each industry. The technical note
presents the detailed methodology used
to derive the estimates.
Constant-Dollar Estimates of
P&E Expenditures
Annual and quarterly constantdollar (real) estimates of P&E expenditures are shown in table 8. Constantdollar estimates for equipment and for
plant are shown in tables 9 and 10,
respectively. The annual estimates are
for 1947-80; the quarterly estimates for
total P&E expenditures are for 194780, and those for equipment and for
plant are for 1972-80.
Total P&E expenditures
Chart 6 shows the current- and
constant-dollar estimates of total nonfarm business P&E expenditures.2
From 1947 to 1980, real expenditures
grew at an average annual rate of 3.8
percent, compared with 8.2 percent for
current-dollar expenditures. The rate
of increase in real terms was 2.5 percent
in 1947-59, 5.3 percent in 1959-72, and
3.6 percent in 1972-80, compared with
6.2 percent, 7.9 percent, and 11.9 percent, respectively, for current-dollar
expenditures.
Table 1 shows the average annual
rates of growth by industry for total
P&E expenditures for 1947-80,1947-72,
and 1972-80. There were significant differences in the rates of increase among
industries. From 1947 to 1980, spending
grew faster in nonmanufacturing (4.1
percent) than in manufacturing (3.5
percent). In 1947-72, nonmanufactur2. Unless otherwise noted, all references to P&E
expenditure estimates in this article are to estimates in constant (1972) dollars, all quarterly
data are seasonally adjusted at annual rates, and
all percentages are average annual rates of
change.
SURVEY OF CURRENT BUSINESS
September 1981
27
CHART 6
Expenditures for New Plant and Equipment by U.S. Nonfarm Business
Billion $ (Ratio scale)
300
' '
200
20
1947
1949
1951
1953
1955
1957
1959
1961
1963
1965
1967
Seasonally Adjusted at Annual Rates
1969
1971
1973
1975
1977
1979
U.S. Department of Commerce, Bureau of Economic Analysis
Nonmanufacturing. — The industry
ing grew faster (4.8 percent) than did steady growth in demand for more
manufacturing (2.4 percent), but in efficient commercial aircraft by major groups with the fastest growth in P&E
1972-80 manufacturing grew much airlines, commuter planes, and private spending in 1947-80 were finance-insurfaster (6.9 percent) than did nonmanu- company aircraft. The only manufac- ance-real estate and communications (6
facturing (1.9 percent).
turing industry that registered a de- percent), and public utilities (5 perManufacturing.—For 1947-80, air- cline in spending in 1947-80 was tex- cent). Transportation had the slowest
craft showed the fastest average annual tiles, where spending declined an aver- growth (1 percent). In all nonmanuf acgrowth in P&E spending (12 percent), age of 1 percent per year.
turing industry groups except mining,
followed by electrical machinery (7
For 1972-80, the fastest growth growth rates were slower in 1972-80
percent) and nonelectrical machinery among manufacturing industries was in than in 1947-80. The slowing was par(5 percent). The growth of aircraft in- aircraft (24 percent), followed by ticularly marked in services, which
dustry expenditures was marked by a paper (12 percent). Nonelectrical ma- grew at less than a 1-percent rate in
series of sudden increases and decreases chinery, chemicals, and electrical 1972-80 compared with 5.5 percent in
in response to military and commercial machinery each grew at a 9-percent rate. 1947_72, and in "other" (construction,
demands for new aircraft. The first The growth rate for aircraft reflected social services and membership organimajor boom occurred in early 1951 in a trough in spending during 1972 and
zations, and forestry, fisheries, and agriresponse to demand related to the Ko- the large spurt during 1977-80. The fast
cultural
services), which fell at a rate
rean War. Large increases in 1955,1956, increase by paper occurred primarily
of
3
percent,
compared with an increase
1962, 1968, and 1978 occurred in re- in 1972-74 and 1979-80. Textiles and
of
over
4
percent
in 1947-72. P&E
sponse to commercial demand and, in rubber were the only industries with
1965 and 1966, in response to military spending declines in 1972-80. Both tex- spending in mining increased in 1972demand. In the past 3 years, the indus- tiles and rubber curtailed spending dur- 80 at a rate of 8 percent, double the rate
try registered a dramatic increase in ing the 1974-75 recession. For textiles, in 1947-80, mainly reflecting the desire
P&E spending. This increase—over 200 spending fell by 29 percent from 1974 of companies for capacity to respond to
percent from the fourth quarter of 1977 to 1975, but increased at a 5-percent rate demand for domestically produced
to the first quarter of 1980—reflected from 1975 to 1980.
energy.
SURVEY OF CURRENT BUSINESS
28
September 1981
CHART 7
Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
Billion (1972) $ (Ratio scale)
Billion (1972)$ (Ratio scale)
- 20
1947
1949
1951
1953
U.S. Department of Commerce, Bureau of Economic Analysis
1955
1957
1959 1961 1963 1965 1967
Seasonally Adjusted at Annual Rates
1969
1971 1973
1975
1977 1979
SURVEY OF CURRENT BUSINESS
September 1981
Table 2.—-Average Annual Rates of Increase for Plant and for Equipment Expenditures by
Company-Based Industry, Constant 1972 Dollars
[Percent]
1947-72
1947-80
Plant
Equipment
Plant
1972-80
Equipment
Plant
Equipment
3.2
4.2
3.9
4.0
0.9
5.1
Manufacturing __ . ._ __
Durable goods
Nondurable goods
2.5
3.8
1.7
3.9
4.6
3.2
1.6
2.3
1.3
2.8
3.9
1.7
5.4
8.8
2.8
7.5
6.8
8.2
Nonmanufacturing
Mining
..
Transportation
Public utilities
Trade and services..
Communications and other
3.5
5.8
.8
4.2
3.2
3.5
4.5
2.7
.8
5.9
5.3
5.5
4.8
__5.3-t
5.1
5.0
5.0
4.8
1.0
1.8
7.9
5.2
6.1
-.5
7.4
3.8
1.7
-2.5
-1.1
3.7
8.2
-2.3
-.2
5.8
3.7
Total nonfarm business
__
. .....
__.
pared with a rate of 6.7 percent for
equipment.3
In 1972-80, the faster growth of
Table 2 shows average annual rates of
equipment in manufacturing was traceincrease for plant and for equipment
able to nondurable goods manufacturexpenditures for major industry groups.
ing. In nonmanuf acturing, plant spendChart 7 shows P&E, equipment, and
ing declined. Substantial declines ocplant expenditures for total nonfarm
curred in trade and services and in the
business, manufacturing, and nonmanucommunication and other group. These
facturing. Total nonfarm business exdeclines were partly offset by the strong
penditures for equipment grew considgrowth in mining and in transportation.
erably faster than those for plant,
The
latter reflected large outlays for the
especially in recent years. For 1947-80,
construction
of the Alaskan pipeline.
the growth rate for equipment spending
was 4.2 compared with 3.2 percent for
Cyclical behavior
plant spending. From 1972-80, equipment spending increased at a rate of 5.1
During the period 1947 to 1980, total
percent, compared with only 0.9 percent P&E, equipment, and plant expendifor plant spending. Faster growth in tures for major industry groups showed
equipment spending occurred in both significant cyclical patterns (chart 7).
manufacturing and nonmanufacturing. The shaded areas in each chart depict
The large difference in growth rates for periods between successive peaks (P)
recent years may have reflected a re- and troughs (T)—"contractions"—for
sponse to large differences in price increases for the two components—in
3. Strictly speaking, fixed-weighted price inshould have been used to support this rea1972-80 the implicit price deflator for dexes
soning. The rates of growth of these indexes were
plant rose at a rate of 10.5 percent com- similar to the rates for the deflators (see table 5).
Expenditures for plant and for
equipment
29
real total nonfarm P&E expenditures.4
The percentage changes for five major
industry groups in each of the seven
cycles that occurred during this period
are shown in table 3 for contractions
and for expansions.5
There were three large contractions
in spending for total nonfarm business:
from 1957:2-1958:4, spending fell 16i/2
percent; from 1948:1-1949:4, it fell 16
percent; aad from 1974:2-1975:4, it fell
15 percent. The other four contractions
were relatively mild, averaging 4
percent.
The expansion with the largest
growth in total nonfarm business
spending was 1961:2-1966:4 (the longest of the expansions), when spending
increased 67 percent. Other expansions
with large growth were 1975:4-1980:1,
39 percent; 1949:4-1953:2, 31 percent;
and 1954:4-1957:2, 32 percent.
P&E spending in manufacturing
generally registered much larger spending declines in contractions and substantially larger increases in expansions
than did nonmanufacturing spending.
In contractions, the average decrease
for manufacturing was almost five
times as large as that for nonmanufacturing; in expansions, the average
increase for manufacturing was almost
twice that for nonmanufacturing.
Within manufacturing, durable goods
industries were somewhat more cycli4. These peaks and troughs do not coincide
with the business cycle peaks and troughs designated by the National Bureau of Economic Re-.
search.
5. The percentage changes in table 3, and those
discussed in this part, are not at average annual
rates (see footnote 2), but are changes over the
entire period indicated.
Table 3.—Percent Change in Expenditures for Equipment and for Plant, Contractions and Expansions, 1947-80
Contractions
48:149:IV
53:1154:IV
57:1158:111
60:1161:11
66:IV67:111
Expansions
69:11171:1
74:1175:IV
Average
49:IV53:11
54:IV57:11
58:11160:11
61:1166:IV
67:11169:111
71:74:11
75:IV80:1
Average
._ -16.31
-27.26
.43
-3.49
-9.77
4. 49
-16.49
-23. 57
-8.37
-4.70
-10.98
2.41
-4.34
-4.88
-3.62
-5.12
-7.61
-1.89
-15.29
-17.69
-11.23
-9.39
-14.54
-2.54
30.71
39.22
21.27
31.61
34.29
28.66
18.37
28.57
8.61
66.99
94. 89
39.53
12.49
10.47
15.23
24.45
41.85
3.15
38.82
50.68
20.30
31.92
42.85
19.54
Manufacturing
E quipment
Plant
.
-39. 18
-40. 69
-35.75
-8.68
-9.14
-7.72
-36.35
-37. 68
-33.70
-6.91
-11.23
2.17
-7.36
-8.07
-5.84
-14.69
-16.88
-10.08
-15.09
-16. 70
-10. 78
-18.32
-20.06
-14.53
65.72
65. 12
66.97
35.07
33. 73
37.81
39.04
44.80
28.31
95.65
106.87
75.15
9.92
9.94
9.89
28.34
41.35
2.99
53.71
60.70
36.25
46.78
51.79
36.77
Durable goods
Equipment—
Plant
-38.09
-35. 41
-45. 74
-8.77
-4.37
-20. 19
-40.95
-40.59
-41.85
-12. 68
-13. 93
-8.98
-5.69
-4.81
-8.09
-22. 03
-23. 42
-18. 11
-22. 62
-24.45
-15.95
-21.55
-21.00
-22. 70
102.30
88. 91
147.90
46. 64
37.55
74.90
49.95
56.93
32.49
128.88
127. 13
133. 76
6.87
6.89
6.84
37.08
48.32
7.47
70.94
68.35
79.42
63.24
62.01
68.97
-39.82
._ -44.13
-31. 17
-r8.60
-13. 76
.38
-31. 75
-34. 37
-27.48
-1.16
-7.92
9.35
-9.39
-12.69
-3.87
-5.99
-7.46
-3.72
-6.61
-6.40
-7.03
-14.76
-18. 10
-9.08
43.58
47. 16
37. 74
25.22
29.62
18.64
29.64
32.27
25.75
66.37
83.65
43.75
13.77
14.64
12.44
19.76
33.04
-.03
37.64
52.50
8.00
33.71
41.84
20.90
.02
-14. 93
17.60
—.26
-lo!si
9.33
-4.68
-11. 34
.91
-3.59
-10.80
2.48
-2.49
-2.26
-2.72
.29
-.51
1.10
-15.39
-18.33
-11.38
-3.73
-9.78
2.47
15.50
22. 65
9.42
29.63
34.78
25.61
10.16
18.70
3.86
53.12
86.03
28.97
14.00
10.88
17.31
22,58
42.17
3.20
31.28
44.17
15.10
25.18
37.05
14.78
Total nonfarm business
E quipment
Plant
Nondurable goods
Equipment
Plant
Nonmanufacturing. .
Equipment
Plant
SURVEY OF CURRENT BUSINESS
30
September 1981
CHART8
Business Equipment (Index of Industrial Production) and Constant-Dollar Equipment Expenditures (P&E Survey)
Index, 1967 =100
Index, 1967 = 100
190
190
170 —
150 r-
130-
110-
- 70
- 50
1947
1949
1951
1953 1955
1957
1959
1961
1963
1965
1967
1969
1971
1973
1975
1977
1979
U.S. Department of Commerce, Bureau of Economic Analysis
cally sensitive than nondurable goods
industries, especially in the 1960:21961:2, 1969 3-1971:1, and 1974:21975:4 contractions, and the 1949:41953:2, 1961:2-1966:4, and 1975:41980:1 expansions.
Table 3 also shows that equipment
spending was more cyclically sensitive
than plant spending. In fact, plant expenditures increased in the contractions
of 1948:1-1949:4, 1953:2-1954:4, and
1960:2-1961:2.
The timing of troughs for manufacturing and nonmanuf acturing spending
was slightly different. The troughs in
manufacturing usually lagged those for
total nonf arm business by one to two
quarters, and nonmanuf acturing spending turned up one or two quarters before the troughs for total nonf arm business. The peak quarters of manufacturing and nonmanufacturing were more
coincident.
Comparison with the FRB series
The constant-dollar estimates of
equipment expenditures can be com-
pared with the business equipment component of the Index of Industrial Production, prepared by the Federal
Eeserve Board (FEE). The FEE series
differs in several ways from the BE A
series; data are not available to make
satisfactory adjustments for these
differences.6
Chart 8 shows the two series indexed
to 1967. The two series moved together
for most of the 1947-80 period—the correlation coefficient of the quarterly
levels of the index numbers is 0.995, and
the correlation of the percent changes is
0.668. The FEB series grew at a somewhat faster rate over 1947-80—4.7 percent, compared to 4.2 percent for the
BEA series.
In the last five expansions the FEB
series was consistently above the BEA
6. The major differences between the FRB series
and the BEA series are: (1) The FRB series is
based mainly on production data; the BEA series
measures expenditures. (2) The FRB series includes government, exports, and agriculture; the
BEA series excludes these items (although it includes imports). (3) The. FRB series is compiled
from establishment data; the BEA series is compiled from company data.
series. In part, this reflected the fact
that the troughs in the FEB series generally preceded the troughs in the BEA
series by one or two quarters. (The timing differences at peaks were less uniform.) The FEE series is based mainly
on production measures, rather than on
expenditures. Because production normally precedes expenditures, this difference may have accounted for the fact
that the troughs in the FEB series generally preceded those in the BEA series.
The BEA series showed a much steeper decline in the 1974-75 contraction
and faster growth in the recent expansion than did the FEB series. The FEB
series peaked in the first quarter of 1980
and fell rapidly in the next two quarters
before turning up in the fourth quarter
of 1980. The BEA series peaked in the
fourth quarter of 1979, and then fell
more gently than did the FEB series.
Industry Price Measures
This section is divided into five parts.
The first part summarizes the method-
September 1981
ology used to derive the specially constructed implicit price deflators and the
constant-dollar estimates presented
above. The second and third parts present the implicit price deflators for expenditures by establishment-based industry, and for P&E expenditures by
company-based industry. The fourth
and fifth parts compare the implicit
price deflators with fixed-weighted
price indexes and with annual price data
collected from respondents to the P&E
survey.
SURVEY OF CURRENT BUSINESS
lishments. Company-based industry deflators are formed by dividing currentdollar capital expenditures by constantdollar capital expenditures for each
industry. The derived company-based
industry deflators allow for the different compositions of capital goods expenditures among industries.
31
In step three, the company-based industry deflators for plant and for
equipment are subjected to a constraint
and then applied to the current-dollar
expenditures from the P&E survey to
form the final constant-dollar estimates.
The constraint insures that the weighted sum of deflators for the P&E survey
Table 4.—Average Annual Rates of Increase for Implicit Price Deflators and Fixed-Weighted
Price Indexes for Expenditures by Establishment-Based Industry
[Percent]
1947-80
1972-80
Rank*
Summary of methodology
The procedure used to prepare quarterly implicit price deflators and the
constant-dollar estimates is carried out
separately for plant expenditures and
for equipment expenditures. The basic
inputs are national income and product
account (NIPA) estimates for purchases of structures and producers' durable equipment by type in current and
constant dollars (published as NIPA
tables 5.4-5.7) adjusted, where possible,
to conform to P&E survey definitions.7
In the first of three steps, specially
prepared capital flow matrixes are used
to transform the NIPA estimates into
current- and constant-dollar expenditures by establishment-based industry.
These capital flow matrixes show the
amounts and types of capital goods
used for each of 76 establishment-based
industries. The step-one calculations
yield implicit price deflators for
establishment-based industries that are
formed by dividing current-dollar
capital expenditures by constant-dollar
capital expenditures for each establishment industry.
The second step uses a capital expenditures matrix to transform the capital
expenditures by festablishment-based
industry into capital expenditures by
company-based industry. The capital
expenditures matrix shows the amount
of capital expenditures in each
company-based industry distributed by
the industry classification of its estab7. For a summary of the differences in definitions between P&E survey expenditure estimates
and the NIPA estimates for purchases of structures and producers' durable equipment, see G. R.
Green and M. P. Hertzberg, "Revised Estimates
of New Plant and Equipment Expenditures in the
United States, 1947-77," SURVEY OF CURRENT
BUSINESS 60 (October 1980) : 38-39.
FixedFixedImplicit weighted Implicit weighted
price
price
price
price
index
deflator
deflator
index
Crude petroleum and natural gas
Coal mining .
Stone, clay mining, quarry mining, and chemicals and fertilizer mineral mining. . __
_
Broad and narrow fabrics, yarn, and thread mills and miscellaneous textile goods
Rubber and miscellaneous plastic products
1947-80
1
1972-80
5.8
5.4
5.6
5.2
15.5
10.7
15.2
10.6
2
5.0
4.9
10.0
10.0
3
3
5.0
4.9
4.9
4.8
9.1
8.5
9.7
9.3
4
5
8
12
Iron and ferroalloy ores mining and nonferrous metal ores
mining . _
Lumber and wood products including wooden containers...
Paperboard containers and boxes
Electric, gas, water, and sanitary services
Motor vehicles and equipment
4.9
4.9
4.8
4.8
4.8
4.9
4.6
4.3
5.0
5.0
9.8
9.1
8.3
9.2
8.8
9.9
9.4
8.9
9.6
9.2
6
7
8
9
10
4
9
21
7
10
Construction. _
Metal working machinery and equipment
Heating, plumbing, and structural metal products
Screw machine products and stampings
Other furniture and fixtures
4.8
4.8
4.7
4.7
4.7
4.9
4.6
4.4
4.5
4.5
9.3
8.2
8.3
8.3
8.5
9.7
8.8
8.8
8.8
9.0
11 ,
12
13
14
15
5
24
19
20
13
Tobacco manufactures
Household furniture
Primary nonferrous metals manufacturing
Metal containers and other fabricated metal products
Glass and glass products
4.7
4.6
4.6
4.6
4.6
4.2
4.4
4.1
4.4
4.2
8.4
8.5
8.2
8.2
7.5
8.7
9.0
8.6
8.7
•8.5
16
17
18
19
20
18
14
23
27
41
Miscellaneous machinery, except electrical
Primary iron and steel manufacturing
General industrial machinery and equipment
Stone and clay products . . .
Paper and allied products except containers
4.6
4.6
4.6
4.6
4.6
4.1
4.3
4.2
4.5
4.3
7.6
8.2
7.7
8.4
8.1
8.2
8.7
8.3
9.0
8.8
21
22
23
24
25
40
28
37
17
31
4.6
4.6
4.6
4.5
4.5
4.6
4.0
4.4
4.3
4.3
8.4
7.7
8.3
7.9
7.6
8.9
8.5
9.2
8.5
8.4
26
27
28
29
30
18
36
22
34
39
Transportation and warehousing
Chemicals, selected chemical products, plastics, and synthetic materials
Food and kindred products
Household appliances
_
..
Agriculture
_ _ _ _
4.5
4.3
8.7
9.1
31
11
4.5
4.5
4.5
4.5
4.3
4.4
4.2
4.6
8.0
8.2
8.2
9.3
8.7
8.9
8.7
9.4
32
33
34
35
32
25
26
6
Special industry machinery and equipment
Petroleum refining and related industries
Printing and publishing
Engines and turbines
Service industry machines
4.5
4.5
4.5
4.4
4.4
4.3
4.3
4.2
3.9
4.2
8.0
8.4
7.2
6.8
7.7
8.6
8.8
8.6
7.8
8.4
36
37
38
39
40
33
15
44
52
35
4.3
3.9
6.8
7.8
41
50
4.3
4.3
4.1
4.3
7.2
8.1
8.1
8.8
42
43
46
29
4.3
3.8
6.9
7.9
44
48
4.3
4.2
8.1
8.7
45
30
Paints and allied products
Electrical industrial equipment and apparatus and miscellaneous electrical equipment .
Electronic components and accessories
Drugs, cleaning, and toilet preparations
_
Scientific and controlling instruments
4.2
3.8
6.8
7.7
46
51
4.2
4.2
4.1
4.1
4.0
4.1
3.8
3.8
7.3
7.3
6.6
6.9
8.1
8.3
7.7
7.8
47
48
49
50
42
43
54
49
Office, computing, a n d accounting machines
_ _ _ _ _ _
Radio television and communication equipment
Aircraft and parts and ordnance and accessories
Wholesale and retail trade
Services
Communications
Finance insurance real estate and rental
3.9
3.9
3.7
3.6
3.6
3.3
2.8
3.9
3.7
3.6
3.8
3.9
3.4
2.8
7.2
6.6
5.7
7.6
7.1
5.4
5.6
8.0
7.7
7.2
8.2
8.1
6.0
6.7
51
52
53
54
55
56
57
45
53
55
38
47
57
56
Electric lighting and wiring equipment
Miscellaneous fabricated textile products
Apparel
Miscellaneous manufacturing
Farm and garden machinery
__•__
_ _.
... --
.
.
Optical ophthalmic and photographic equipment
Construction, mining, and materials handling machinery
and equipment
Other transportation equipment
Leather tanning and finishing, footwear, and other leather
products
Total all industries combined
1. Rank is based on implicit price deflators.
1
2
32
industries is equal to the deflator for
total purchases of equipment and
structures obtained from the sums of
the adjusted NIPA estimates.
Implicit price deflators for establish'
ment'based industries
Table 4 shows the average annual
rates of increase of implicit price deflators for capital expenditures by establishment-based industry. An establishment-based industry that purchases
mainly capital goods that show relatively fast price increases over time will,
in all likelihood, also show relatively
fast increases in its deflators. For example, the establishment-based industry
that had the fastest increase in the deflator in 1947-80 was crude petroleum
and natural gas. The rate of the deflator's increase reflected that industry's
purchase of about 34 percent of mining
and oilfield machinery in 1972 and of
all petroleum and natural gas structures, which both showed relatively fast
price increases.
Four of the six industries with the
fastest increases in 1947-80 were mining
industries. Broad and narrow fabrics,
yarn, and thread mills and miscellaneous textile goods had the fastest increase
for nonmining industries, followed by
the rubber and miscellaneous plastic
products and the lumber and wood
products including wooden containers
industries. The fast increase in the deflator for the broad and narrow fabrics,
etc. industry was due to the industry's
heavy purchases of special industry machinery, which increased rapidly in
price over the 1947-80 period. Large
purchases of special industry machinery
were a factor for the other two industries also. The rubber and miscellaneous
plastic products industry purchased, in
addition, a large amount of metal working machinery, which increased rapidly
in price, and the lumber and wood products industry purchased, in addition, a
large amount of trucks, which increased
rapidly in price.
Similarly, industries that purchased
large amounts of office, computing, and
accounting machinery, the equipment
category with the slowest increase in the
deflator over 1947-80, showed relatively
SUEVEY OF CUEEENT BUSINESS
slow increases in their deflators. The
two major purchasers of this equipment
category were the finance-insurancereal estate, and rental industry and the
services industry.
Implicit price deflators for companybased industries
The implicit price deflator for P&E
expenditures by a company-based industry is in effect a weighted average of
the deflators for the establishments
owned by the companies in that industry. For example, 70 percent of P&E
spending in 1972 by food and beverage
companies was by their establishments
classified in the food and kindred products industry. Food and beverage companies also owned establishments classified in metal containers and other
fabricated metal products. Because the
deflators for these establishment-based
industries increased more than the average for all industries combined, the de-
September 1981
flators for food and beverage companies
also showed an above-average increase.
Table 5 shows average annual rates
of increase of implicit price deflators
for total P&E expenditures by company-based industry for 1947-80,194772, and 1972-80. The implicit price
deflator for total nonfarm business
P&E expenditures increased at a 4.2percent rate in 1947-80. Eeflecting the
generally higher inflation of the seventies, the deflators for total nonfarm
business and for every industry increased much faster in 1972-80 than in
1947-72; the rate of increase in the deflator for total nonfarm business in
1972-80 wTas 8.1 percent, compared with
3.0 percent in 1947-72. The deflator for
manufacturing increased somewhat
faster than that for nonmanufacturing
in both periods.
Within manufacturing, the deflator
for nondurable goods increased faster
than that for durable goods, especially
in 1972-80, reflecting mainly a fast in-
Table 5.—Average Annual Rates of Increase for Implicit Price Deflators and for FixedWeighted Price Indexes for Plant and Equipment Expenditures by Company-Based
Industry
[Percent]
1947-72
1947-80
1972-80
FixedFixedImplicit weighted Implicit weighted
price
price
price
price
deflator
deflator
index
index
Total Nonfarm Business
Manufacturing
Durable goods
Primary metals *
.
Blast furnaces
Nonferrous metals
__._
Fabricated metals
Electrical machinery
Machinery except electric Transportation equipment *
Motor vehicles
Aircraft
Stone, clay and glass
Other durables 2
..
.
- - - . _ . _ _.-
Nondurable goods
Food including beverage
Textiles
Paper
.. _
Chemicals
...
Petroleum
Rubber
Other non durables 3 -. ......
Non manufacturing
Mining
Transportation
Public utilities
Trade and services
Wholesale and retail --..-.
Finance, insurance and real estate
Personal, business and professional services
Communication and other
Communication. _
..__•_
Other*
.
.-. ..
_-
..-_
FixedImplicit weighted
price
price
index
deflator
8.7
4.2
4.2
3.0
2.8
8.1
4.5
4.4
3.3
2.9
8.5
9.3
4.4
4.6
4.6
4.7
4.6
4.0
4.3
4.5
4.6
4.3
4.6
4.5
4.3
4.4
4.3
4.4
4.4
3.9
4.1
4.6
4.7
4.2
4.4
4.3
3.3
3.3
3.3
3.3
3.5
3.0
3.3
3.4
3.4
3.1
3.4
3.4
2.9
2.9
2.9
2.9
3.0
2.7
2.8
3.2
3.4
2.7
3.0
2.9
7.9
8.8
8.9
8.9
8.1
7.0
7.5
8.3
8.5
8.1
8.6
8.1
8.6
8.9
8.8
9.1
. 8.9
7.8
8.2
9.0
8.9
9.0
9,0
8.8
4.6
4.4
4.7
4.5
4.5
4.9
4.6
4.4
4.6
4.3
4.6
4.3
4.3
5.1
4.6
4.1
3.2
3.2
3.5
3.4
3.3
3.0
3.5
3.4
2.9
2.9
3.1
2.9
2.8
2.8
3.2
2.8
9.0
8.2
8.4
8.0
8.3
10.9
8.2
7.6
10.0
8.8
9.5
8.8
8.9
12.5
9.1
8.6
4.0
5.4
4.5
4.8
3.7
3.7
3.7
3.7
3.7
3.3
4.6
4.1
5.2
4.3
4.8
3.8
3.8
3.8
3.8
3.8
3.3
4.7
2.9
3.2
3.1
3.4
2.6
2.5
2.8
2.6
2.8
2.6
3.1
2.7
3.1
2.9
3.4
2.4
2.4
2.3
2.5
2.7
2.5
3.2
7.8
12.4
8.9
9.2
7.1
7.6
6.7
7.1
6.5
5.5
9.3
8.5
12.2
9.1
9.4
8.3
8.2
8.5
8.1
7.3
5.9
9.6
1. Includes industries not shown separately.
2. Consists of lumber, furniture, instruments, and miscellaneous.
3. Consists of apparel, tobacco, leather, and printing-publishing.
4. Consists of construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
SURVEY OF CURRENT BUSINESS
September 1981
Table 6.—Average Annual Rates of Increase for Implicit Price Deflators for Plant and for
Equipment Expenditures by Company-Based Industry
[Percent]
1947-80
Plant
1947-72
Equipment
Plant
1972-80
Equipment
Plant
Equipment
Total nonfarm business
5.0
3.8
3.3
2.8
10.5
6.7
Manufacturing...
Durable goods
Nondurable goods
5.1
4.9
5.3
4.3
4.3
4.3
3.1
3.3
3.1
3.3
3.4
3.3
11.3
10.1
12.3
7.4
7.2
7.6
Nonmanufacturing. .
Mining
Transportation
Public utilities
....
Trade and services.
Communication and other
5.0
5.9
4.9
5.4
4.7
4.6
3.3
4.8
4.3
3.5
2.8
3.2
3.4
3.1
3.4
3.9
3.2
3.3
2.4
3.3
3.0
2.2
2.0
2.5
10.1
15.2
9.9
10.3
9.6
8.9
6.2
9.5
8.5
7.6
5.5
5.4
_.
crease in the deflator for petroleum
companies. This fast increase in turn
reflected these companies' ownership of
establishments in the crude petroleum
and natural gas industry whose deflator, as seen in table 4, increased very
fast; of the equipment expenditures in
1972 made by this establishment-based
industry, 68 percent were accounted for
by establishments owned by petroleum
companies. The manufacturing industries with the slowest deflator increases
in 1947-80 were aircraft and electrical
machinery. Aircraft companies own
many establishments classified in aircraft and parts, and the deflator for
Table 7.—Comparison of Percent Changes
in Implicit Price Deflators for Plant and
Equipment Expenditures and in Capital
Goods Prices Reported in the P&E Survey
Correlation coefficient
Total nonfarm business
Manufacturing
0.879
..
Durable goods
_
Blast furnaces
Nonferrous metals
Electrical machinery. _
Machinery except electric
Motor vehicles
AircraftStone, clay, and 1 glass _ _
Other durables
Nondurable goods...
Food including beverage
Textiles....
Paper
Chemicals .
Petroleum . _
Rubber
Other nondurables 2
Nonmanufacturing
Mining .
Transportation
Public utilities
Trade and services 3
Communications
.778
__
_. . ..
.
.762
.847
.809
.614
.802
569
.540
.753
.762
.802
.825
.661
.814
.794
.745
.859
.783
.913
.819
.825
.906
.880
.663
1. Consists of fabricated metals, lumber, furniture, instruments, and miscellaneous.
2. Consists of apparel, tobacco, leather, and printingpublishing.
3. Includes other nonmanufacturing.
this establishment-based industry increased relatively slowly in 1947-80.
(The deflator for aircraft and parts
establishments increased slowly because
a large portion of this industry's capital
expenditures is office, computing, and
accounting machinery.) The deflator
for electrical machinery companies increased relatively slowly because they
own many establishments in four establishment-based industries for which the
deflators increased relatively slowly—
communications; radio, television, and
communication equipment; electronic
components and accessories; and electrical industrial equipment and apparatus and miscellaneous electrical
equipment.
For nonmanufacturing, the mining
industry deflator showed the fastest increase for all periods shown in table 5.
The increase in that company-based industry's deflator reflected the relatively
fast increase in the deflators for miningrelated establishment-based industries,8
The deflator for transportation companies increased rapidly in 1947-80 re8. These industries are iron and ferroalloy ores
mining and nonferrous metal ores mining; coal
mining; crude petroleum and natural gas; and
stone, clay mining, quarry mining, and chemicals
and fertilizer mineral mining.
33
fleeting the rapid increase, especially in
1972-80, in the deflator for transportation establishments. This increase in
turn reflected increases in prices for
railroad equipment and railroad structures and for aircraft. The deflator for
public utilities increased rapidly, reflecting the fast increase in the deflator
for electric, gas, water, and sanitary
services. The deflator for other nonmanufacturing also increased rapidly,
mainly due to the increase in the deflator for the construction industry
component.
Rates of increase of deflators for
plant expenditures and for equipment
expenditures for major industry groups
are shown in table 6. The deflators for
plant expenditures increased faster than
for equipment expenditures, especially
for 1972-80. Mining and nondurable
goods manufacturing showed the largest
differences between the rates of increase
in the deflator for plant and that for
equipment. The large differences in
mining reflected mainly a fast increase
in the price of petroleum structures
(mostly oil drilling related).
Fixed-weighted price indexes
The implicit price deflators discussed
above reflect both changes in prices for
capital goods and shifts in the composition of expenditures for these goods.
Fixed-weighted price indexes reflect
changes in prices for a fixed "market
basket" of capital goods. In constructing the fixed-weighted price indexes for
each industry, all factors that could
change the composition of capital goods
are held at their 1972 values. The factors held constant are: the constantdollar amount of each type of capital
good, the two transformation matrixes,
The series presented in tables 8-10 plus historical series for both implicit price deflators and for fixed-weighted price indexes for establishment-based industries and for
company-based industries (broken down into total, equipment, and plant) are available
from BEiA in computer printout form. The estimates for total P&E expenditures are
available quarterly and annually from 1947; the estimates for equipment and plant
expenditures separately are available annually from 1947 on, and quarterly from 1972
on. The cost of the printout is $20. For further information, write to P&E Survey
Statistics, Business Outlook Division (BE-52), Bureau of Economic Analysis, U.S.
Department of Commerce, Washington, D.C. 20280, or telephone (202) 523-0701.
SURVEY OF CURRENT BUSINESS
34
the industry ratios of equipment to
structures, and the industry weights for
various industry groupings (e.g., durable goods manufacturing).
In 1972-80, the implicit price deflators increased at slower rates than the
corresponding fixed-weighted price in-
dexes for most establishment-based industries (table 4). This difference
reflected a shift in mix away from capital goods that were relatively more expensive to those that were relatively less
expensive. The notable exception to this
pattern was for the industry with the
September 1981
fastest implicit price deflator increase—
crude petroleum and natural gas. This
industry's expenditures were dominated
by the relatively more expensive petroleum structures and the increasing proportion of investment accounted for by
plant in this industry.
Table 8.—-New Plant and Equipment Expenditures by U.S. Nonfarm Business;
[Billions of
Line
1947
1948
1949
1950
1951
1952
1953
1954
1955
1 Total nonfarm business
45.75
48.97
43.92
45.63
51.45
51.97
53.95
53.21
2
19.42
18.66
14.07
14.34
18.93
20.37
20 48
19.67
7 66
1.79
.99
.41
.83
.63
1.16
1.72
1.52
.08
.73
.81
7.23
1.93
1.15
.40
.68
.55
1.05
1.67
1.47
.10
.54
.81
5 15
1.43
.88
.30
.50
.40
.71
1.21
1.05
.09
.36
.54
5.94
1.33
.80
.26
.63
.43
.73
1.56
1.42
.10
.55
.71
8.79
2.46
1.33
.54
.73
.65
1.15
2.22
1.84
.31
.75
.83
9.73
3.38
2.20
.92
.63
.68
1.14
2.50
2.15
.29
.64
.76
9 52
2.68
1.61
.74
.74
.84
1.29
2.48
2.18
.25
.68
.81
11.76
2.20
1.13
.85
2.37
3.72
.45
1.03
11 43
2.21
1.25
.81
1.90
4.15
.29
.81
8.92
1.82
.91
.60
1.29
3.43
.22
.65
8.40
1.61
.82
.64
1.44
2.98
.27
.64
10.14
1.73
.87
.75
2.14
3.62
.38
.66
10.64
1.57
.68
.63
2.33
4.36
.40
.67
26.34
30.31
29.85
31.29
32.52
31.60
3
Manufacturing
4
5
6
7
8
9
10
11
12
13
14
Durable goods . 1
Primary metals
Blastfurnaces
..
Nonferrous metals .
_.
Fabricated metals
Electrical machinery
Machinery, except electrical . _
Transportation equipment 1 _
Motor vehicles
Aircraft
Stone, clay, and2 glass
Other durables
15
16
17
18
19
20
21
22
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber _
Other nondurables 3
23
__.
Nonmanufacturing
1956
1957
1958
1959
1960
1961
1962
57.46
66.32
67.69
59.25
61.34
66.69
65.85
70.05
19.90
24.54
24.92
18.35
18.63
22. 19
21.10
21.50
9 10
1.64
1.02
.44
.77
.80
1.13
3.17
2.87
.24
.73
.86
9 40
1.67
1.09
.37
.83
.79
1.26
2.82
2.38
.37
1.02
1.00
12 32
2.42
1.56
.66
.96
1.05
1.59
3.84
3.16
.58
1.38
1.07
12 28
3.56
2.00
1.27
.98
1.02
1.80
2.88
2.08
.69
1.13
.91
8 79
2.29
1.48
.70
.74
.80
1.27
2.01
1.48
.41
.79
.89
9 03
1 69
1.12
.48
.84
.95
1.33
2.20
1.65
.43
.96
1.06
11 14
2.47
1.84
.44
.81
1.36
1.58
2.58
1.94
.48
1.08
1.27
9 96
1.77
1.20
.40
.69
1.44
1.44
2.36
1.80
.43
.94
1.31
10.28
1.66
1.01
.45
.78
1.31
1.62
2.59
1.88
.55
.97
1.35
10.96
1.68
.56
.69
2.33
4.53
.42
.75
10.57
1.65
.48
.77
1.85
4.61
.34
.87
10.50
1.55
.51
.84
1.62
4.74
.39
.85
12.22
1.71
.59
1.23
2.19
5.08
.50
.92
12.64
1.73
.47
1.17
2.45
5.38
.48
.96
9.56
1.53
.32
.81
1.88
3.81
.32
.88
9.60
1.65
.43
.89
1.62
3.73
.38
.90
11.05
1.82
.58
1.05
2.17
3.96
.47
1.01
11. 14
2.02
.49
.86
2.18
4.15
.50
.93
11.23
1.94
.55
.85
2.15
4.28
.51
.96
33.47
33.54
37.56
41.78
42.78
40.90
42.70
44.51
44.76
48.55
1.99
3.15
7.66
1.83
4.14
7.11
1.73
4.16
7.02
1.70
3.66
6.85
1.89
4.15
6.78
25.61
25
Transportation
4.74
5.16
4.31
4.16
5.11
4.91
4.71
3.77
3.99
4.48
2.40
4.62
8.40
26
Public utilities
3.73
5.61
6.66
6.55
6.60
7.08
7.85
7.21
6.93
7.20
19.07
20.04
21.59
22.74
23.41
27
28
29
30
Trade and services
11.56
Wholesale and retail trade
- . 5.05
Finance, insurance, and real estate.
2.48
Personal, business, and profes4.02
sional services
11.92
4.42
3.38
4.12
12.33
3.98
4.16
4.19
14.31
4.72
4.53
5.06
13.89
4.57
4.14
5.18
12.29
4.02
3.25
5.02
13. 49
4.64
3.45
5.40
14.76
4.84
4.24
5.68
17.58
5.45
5.88
6.26
19.82
6.18
7.13
6.51
5.05
5.00
5.52
5.56
5.53
5.99
7.44
6.58
8.07
6.96
9.09
6.98
9.54
7.63
9.59
8.30
10.04
9.58
31
32
33
Communication and other _.
Communication
Other 4
4.79
2.62
2 16
5.75
3.19
2.56
4.84
2.35
2.49
4.70
1.93
2.78
5.03
2.12
2.90
5.27
2.47
2.81
5.37
2.70
2.67
5.73
2.76
2.97
6.99
3.21
3.78
7.79
4.08
3.71
8.29
4.43
3.86
8.06
4.11
3.94
8.04
4.12
3.91
8.86
4.81
4.05
9.14
4.90
4.24
10.12
5.56
4.56
24
Mining
.
. ..
1.52
1.87
1.71
1.56
1.89
2.04
2.03
2.07
2.07
2.48
1947
Line
I
II
III
IV
1 Total nonfarm business
45.15
44.95
46.19
46.72
49.57
2
19.57
19.40
19.57
19.13
20.65
8.01
1.59
.88
.35
.89
.64
1.29
2.00
1.77
.09
.76
.84
8.04
1.96
1.04
.49
.88
.68
1.23
1.74
1.55
.08
.76
.80
7.49
1.73
.95
.41
.86
.59
1.11
1.53
1.33
.09
.86
.80
7.10
1.87
1.08
.39
.68
.59
1.02
1.59
1.42
.08
.57
.78
11.55
2.20
1.00
.93
2.63
3.27
.50
1.02
11.36
2.15
1.12
.76
2.46
3.38
.46
1.03
12.09
2.20
1.22
.85
2.23
4.09
.44
1.06
25.58
25.55
26.62
Manufacturing
3
4
5
6
7
8
9
10
11
12
13
14
Durable goods - .1
Primary metals
Blast furnaces
Nonferrous metals
Fabricated metals.
Electrical machinery.
Machinery, except electrical.
Transportation equipment l
Motor vehicles
Aircraft.
Stone, clay, and2 glass .
Other durables
..
15
16
17
18
19
20
21
22
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals.
Petroleum
.
Rubber
Other nondurables 3
23
24
Nonmanufacturing..
.
_
....
Mining....
1.12
1.36
1.65
I
I
II
III
IV
41.48
42.27
43.72
47.01
49.52
12.56
12.81
13. 35
14.68
16.53
4.84
1.36
.81
.31
.50
.35
.67
1.17
1.03
.08
.32
.48
4.74
1.23
.71
.31
.54
.37
.63
1.17
1.03
.08
.34
.46
5.11
1.26
.73
.31
.58
.36
.68
1.25
1.15
.06
.42
.56
5.57
1.20
.74
.22
.61
.39
.68
1.51
1.39
.07
.52
.67
6.03
1.26
.78
.21
.63
.48
.71
1.66
1.51
.10
.59
.70
7.04
1.59
.94
.29
.69
.51
.87
1.83
1.63
.14
.66
.89
9.32
1.78
.96
.61
1.37
3.71
.23
.65
8.52
1.76
.79
.55
1.25
3.28
.23
.65
7.83
1.60
.70
.59
1.19
2.97
.18
.59
7.70
1.45
.74
.60
1.21
2.94
.24
.51
7.78
1.52
.73
.61
1.32
2.87
.21
.53
8.65
1.61
.84
.64
1.50
3.09
.28
.69
9.49
1.86
.98
.70
1.73
3.02
.36
.84
30.00
29.60
28.92
29.47
30.37
32.33
32.98
1.46
1.47
1.65
1.67
4.03
4.52
4.34
I
II
49.12
46.85
17.28
15.97
7.25
2.02
1.23
.40
.68
.55
1.07
1.57
1.37
.10
.51
.84
6.63
1.74
1.08
.34
.65
.45
.95
1.55
1.35
.11
.50
.79
11.60
2.22
1.30
.89
1.97
3.99
.32
.91
10.47
2.25
1.28
.79
1.69
3.48
.26
.73
30.21
30.28
II
III
IV
44.39
42.95
14.39
13.35
5.95
1.70
1.11
.29
.55
.50
.82
1.32
1.12
.11
.42
.65
5.07
1.45
.91
.29
.42
.37
.73
1.19
1.02
.10
.35
.56
10.66
2.15
1.25
.69
1.81
3.86
.21
.69
10.02
2.13
1.18
.65
1.35
3.78
.23
.70
31. 84
30.88
III
IV
49.21
48.00
18.99
17.72
7.65
1.94
1.11
.43
.68
.60
1.10
1.94
1.76
.09
.59
.79
7.39
2.02
1.19
.43
.70
.60
1.07
1.59
1.39
.10
.57
.84
12.03
2.25
1.19
.87
2.16
4.15
.41
1.00
13.00
2.22
1.19
.87
2.15
5.27
.37
.93
27.59
28.92
1.96
1.52
2.13
19 50
19 49
1948
1.71
2.13
2.15
1.74
1.57
1.39
25
Transportation
4.27
4.75
4.82
5.11
5.10
5.03
5.16
5.34
4.84
4.38
4.34
3.66
3.75
26
Public utilities .
3.40
3.56
3.88
4.08
4.99
5.54
5.59
6.31
6.61
6.71
6.66
6.65
6.30
6.14
6.67
7.08
14.77
4.74
4.73
5.30
15.04
4.89
4.65
5.50
4.72
1.89
2.83
4.86
1.93
2.93
27
28
29
30
Trade and servicesWholesale and retail trade
Finance, insurance, and real estate.
Personal, business, and professiona
services
31
32
33
Communication and other.
C ommunication
Other 4.
12.37
5.39
2.80
4.18
11.74
5.29
2.39
4.06
11.18
4.92
2.29
3.98
10.94
4.63
2.44
3.87
11.38
4.50
2.84
4.04
11.67
4.36
3.29
4.03
12.09
4.44
3.61
4.04
12.55
4.38
3.79
4.39
12.20
3.98
3.95
4.27
12.26
3.87
4.22
4.17
12.32
4.05
4.16
4.11
12. 55
4.03
4.29
4.23
13.39
4.58
4.31
4.50
14.06
4.67
4.44
4.95
4.42
2.50
1.92
4.14
2.00
2.14
5.09
2.79
2.29
5.50
3.20
2.30
5.92
3.33
2.59
5.84
3.27
2.57
5.73
3.20
2.53
5.51
2.96
2.54
5.08
2.69
2.39
4.91
2.51
2.40
4.71
2.21
2.50
4.68
2.00
2.68
4.57
1.96
2.62
4.67
1.93
2.73
SUEVEY OF CURRENT BUSINESS
September 1981
The implicit price deflators for all
company-based industries (except blast
furnaces and mining) increased at a
slower rate in 1972-80 than did the corresponding fixed-weighted price indexes (table 5). For company-based industries this reflected both: (1) the fact
35
two factors may be in the same or opposite directions for individual industries.
Comparison with price changes reported by survey respondents
Since 1971, a question in the special
annual survey, which is conducted each
that for establishment-based industries
the implicit price deflators generally
increased at lower rates than the corresponding fixed-weighted indexes, and
(2) changes in the composition of
establishments owned by the companybased industries. The effects of these
(text continued on p. 38)
Annually, 1947-80, and Quarterly, Seasonally Adjusted at Annual Rates, 1947-80
1972 dollars]
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
Line
72.15
82.68
93.22
105.83
104.37
106.27
114.14
115.27
112.49
119.93
132.16
135.17
119.66
123.11
134.88
145.99
157.28
158.52
1
22.98
27.98
33.19
39.82
39.75
38.14
40.99
40.00
34.77
35.28
40.69
45.80
41.21
42.34
46.09
48.59
55.26
60.10
2
11.29
2.02
1.19
.62
.89
1.32
1.59
3.08
2.34
.59
.94
1.44
14.22
2.95
1.90
.75
1.09
1.51
2.05
3.93
3.15
.55
1.09
1.61
17.32
3.36
2.09
.92
1.11
2.13
2.81
4.78
3.83
.68
1.15
1.98
21.69
3.92
2.20
1.29
1.44
3.15
3.60
5.76
3.88
1.49
1.46
2.37
21.82
4.11
2.36
1.37
1.57
3.84
3.69
5.37
3.42
1.55
1.14
2.11
21.05
4.09
2.39
1.31
1.60
3.72
3.39
4.94
3.06
1.44
1.05
2.27
22.50
3.78
2.10
1.21
1.51
3.66
4.04
5.40
3.33
1.47
1.26
2.85
21.36
3.51
1.76
1.28
1.31
3.81
4.06
4.97
3.23
.96
1.14
2.56
17.31
2.81
1.32
1.06
1.23
3.14
3.23
3.65
2.49
.65
.96
2.28
18.12
2.43
1.06
.97
1.42
2.80
3.21
4.40
3.00
.68
1.33
2.54
21.94
2.87
1.19
1.23
1.74
3.38
3.87
5.47
3.71
.83
1.53
3.09
24.09
3.84
1.65
1.73
1.70
3.48
4.60
6.07
3.85
1.32
1.44
2.96
20.27
4.38
2.28
1.63
1.52
2.49
3.89
4.54
2.57
1.30
1.26
2.19
20.67
4.10
2.18
1.40
1.62
2.70
4.08
4.62
2.61
1.24
1.33
2.22
23.44
3.68
1.90
1.26
1.71
3.31
4.65
6.13
3.94
1.37
1.51
2.45
25.58
3.54
1.56
1.28
1.83
3.79
4.71
7.41
4.50
1.95
1.90
2.41
29.55
3.73
1.68
1.33
1.77
4.45
6.28
8.67
4.71
2.95
2.21
2.44
31.78
3.94
1.69
1.57
1.59
5.52
6. 45
9.59
4.69
3.78
1.97
2.72
3
4
5
6
7
8
9
10
11
12
13
14
11.69
1.98
.59
.94
2.28
4.37
.51
1.03
13.76
2.31
.78
1.20
2.74
4.91
.61
1.21
15.86
2.42
1.04
1.40
3.69
5.34
.76
1.21
18.12
2.67
1.25
1.67
4.24
5.86
.82
1.61
17.93
2.53
.97
1.86
3.81
6.09
.80
1.86
17. 10
2.60
.77
1.50
3.30
5.95
1.12
1.85
18.49
3.12
.97
1.82
3.40
6.01
1.22
1.95
18.64
3.59
.86
1.88
3.66
5.62
1.00
2.03
17.45
3.45
.93
1.33
3.37
5.49
.81
2.07
17.16
3.27
1.06
1.45
3.37
4.79
1.02
2.19
18.74
3.47
1.00
1.90
4.05
4.40
1.48
2.44
21. 70
3.48
.95
2.48
5.57
5.82
1.35
2.06
20.93
3.06
.67
2.25
5.75
6.52
.88
1.80
21.66
3.47
.74
2.21
5.79
6.78
.95
1.71
22.65
3.50
.84
2.44
5.50
7.33
1.12
1.92
23.01
3.77
.86
2.50
5.27
7.07
1.32
2.21
25.71
3.80
.85
3.18
6.09
7.74
1.25
2.80
28.32
3.92
.85
3.64
6.67
8. 95
.93
3.36
15
16
17
18
19
20
21
22
49.17
54.70
60.03
66.01
64.62
68.12
73.15
75.27
77.72
84.65
91.47
89.38
78.45
80.77
88.80
97.39
102.02
98.42
23
1.69
1.77
1.80
1.81
1.71
1.72
2.02
2.20
2.79
2,87
3.12
3.70
4.13
4.67
5.29
5.14
5.14
5.25
24
4.28
5.70
6.92
7.99
7.70
7.96
8.00
7.50
6.07
6.71
7.14
7.07
6.49
6.15
6.27
6.58
6.83
6.13
25
7.12
7.73
8.56
10.07
11.60
12.71
13.60
14.32
15.28
16.25
17.14
16.73
14.24
14.86
16.84
17.55
18.27
17.47
26
25.67
6.45
8.74
10.48
27.77
7.47
8.95
11.36
29.67
8.45
8.93
12.29
32.01
8.87
9.59
13.55
29.13
8.56
8.14
12.43
30.77
8.35
9.35
13.07
32.52
8.59
10.48
13.45
32.41
9.49
9.56
13.35
35.18
9.56
11.54
14.09
39.86
10.92
13.58
15.36
43.69
12.30
15.39
16.00
41.15
11.90
14.15
15.10
36.31
9.82
13.53
12.96
37.60
10.52
12.61
14.46
41.00
11.66
13.79
15.55
46.23
12.74
17.27
16.21
49.08
13.48
18.81
16.79
47.16
12.11
18.88
16.18
27
28
29
30
10.41
5.74
4.66
11.74
6.59
5.16
13.08
7.43
5.65
14.12
8.40
5.72
14.47
8.64
5.84
14.96
8.80
6.16
17.00
10. 20
6.80
18.84
11.76
7.07
18.40
11.67
6.73
18.95
12.25
6.71
20.39
13.08
7.31
20.72
13.70
7.02
17.28
11.19
6.09
17.49
11.19
6.29
19.40
13.25
6.15
21.90
15.32
6.58
22.70
16.73
5.97
22.42
17.11
5.31
31
32
33
1951
1952
I
II
III
IV
I
49.09
51.80
52.65
52.25
16.89
18.84
19.84
20.17
7.42
1.78
.96
.39
.72
.58
.94
1.95
1.70
.22
.67
.78
8.53
2.26
1.15
.51
.74
.67
1.07
2.23
1.88
.28
.76
.81
9.55
2.72
1.46
.57
.75
.67
1.30
2.43
1.97
.37
.81
.86
9.46
1.84
.80
.74
1.88
3.14
.36
.71
10.30
1.81
.98
.77
2.17
3.51
.35
.72
10.29
1.66
.88
.75
2.25
3.74
.37
.64
32.96 32.81
1953
II
III
IV
54.14
52.49
50.12
20.77
21.07
19.68
9.67 10.13
3.09
3.30
1.73
1.98
.71
.87
.64
.68
.69
.72
1.29
1.16
2.28 . 2.70
1.82
2.20
.41
.38
.77
.76
.85
.86
9.89
3.57
2.46
.88
.63
.66
1.14
2.50
2.09
.35
.63
.76
10.50
1.59
.81
.73
2.27
4.08
.46
.55
10.63
1.61
.75
.67
2.34
4.19
.41
.66
I
II
51.13
53.44
19.97
20.64
9.42
3.30
2.05
1.04
.58
.66
1.08
2.46
2.21
.21
.61
.72
9.49
3.35
2.31
.88
.66
.68
1.19
2.33
2.09
.19
.58
.70
11.18
1.53
.70
.61
2.27
4.97
.44
.67
10.26
1.53
.64
.63
2.38
4.00
.41
.68
1954
III
IV
I
II
54.22
53.99
54.14
53.87
53.52
20.82
20111
20.34
20.51
19.81
9.68
3.04
1.94
.80
.74
.75
1.29
2.36
2.04
.26
.67
.83
9.58
2.85
1.71
.78
.80
.85
1.38
2.24
1.93
.25
.68
.79
9.27
2.60
1.51
.71
.70
.86
1.28
2.35
2.02
.27
.70
.80
9.55
2.22
1.28
.65
.75
.91
1.21
2.98
2.73
.21
.66
.83
9.54
1.97
1.21
.54
.80
.84
1.16
3.20
2.92
.22
.71
.86
10.48
1.61
.61
.62
2.33
4.30
.34
.68
10.97
1.70
.61
.63
2.37
4.44
.41
.81
11.24
1.85
.59
.66
2.42
4.51
.44
.77
10.83
1.62
.54
.72
2.33
4.51
.42
.69
10.79
1.55
.51
.74
2.22
4.65
.41
.71
1955
rv
I
II
53.11 52.33
52.96
19.36
19.01
18.24
9.22
1.71
1.04
.48
.71
.81
1.12
3.34
3.05
.23
.71
.82
8.90
1.48
.93
.38
.78
.77
1.13
3.19
2.90
.23
.69
.86
8.74
1.39
.90
.34
.78
.77
1.10
2.96
2.61
.28
.83
.91
10.97
1.75
.48
.79
2.22
4.50
.37
.86
10.58
1.61
.48
.78
1.85
4.62
.35
.88
10.46
1.67
.48
.73
1.72
4.67
.32
.87
III
1956
III
IV
55.69
59.22
61.97
64.36
66.67 66.92 67.32
1
19.31
20.45
21.60
22.96
24.34 25.37 25.48
2
8.59
1.48
.97
.32
.84
.79
1.12
2.64
2.29
.29
.83
.89
8.95
1.59
1.06
.31
.79
.75
1.21
2.65
2.23
.34
.89
1.07
9.64
1.74
1.11
.41
.82
.81
1.32
2.85
2.37
.40
1.04
1.05
10.42
1.88
1.22
.43
.88
.82
1.38
3.13
2.61
.43
1.33
.99
11.28
2.04
1.30
.52
.89
.92
1.52
3.69
3.13
.47
1.23
.99
12.12 12.75 13.14
2.28 2.36 2.99
1.50 1.53 1.89
.68
.58
.86
.99
1.03
.95
1.03 1.15 1.12
1.53 1.65 1.67
3.81 3.98 3.88
3.17 3.24 3.11
.55
.63
.65
1.38 1.50 1.42
1.05 1.13 1.10
5
6
7
8
9
10
11
12
13
14
10.27
1.55
.47
.77
1.62
4.65
.33
.88
9.65
1.54
.45
.69
1.65
4.19
.35
.76
10.36
1.57
.48
.79
1.46
4.87
.37
.83
10.81
1.53
.50
.91
1.58
4.99
.42
.88
11.19
1.57
.60
.98
1.78
4.92
.42
.91
11.69
1.64
.60
1.11
1.97
5.05
.46
.85
12.22 12.62 12.34
1.66 1.80 1.72
.61 .60
.56
1.25 1.23 1.31
2.18 2.30 2.30
5.14 5.18 4.96
.50
.51
.54
.88 1.01
.94
15
16
17
18
19
20
21
22
42.33 41.55 41.84
I
II
III
IV
Line
3
4
32.08
33.37
31.42
30.45
31.16
32.79
33.41
33.88
33.80
33.36
33.71
33.76
33.32
34.72
36.39
38.78
40.37
41.40
1.68
1.92
1.98
1.97
2.16
2.11
1.92
1.98
2.01
1.83
2.11
2.19
1.99
2.17
2.13
1.98
1.83
2.01
2.14
2.30
2.45
2.54
2.46
2.48
4.77
5.25
5.24
5.17
5.39
5.03
4.48
4.74
4.72
4.66
4.80
4.68
4.30
3.78
3.63
3.37
3.59
3.90
4.02
4.46
4.55
4.46
4.50
4.43
25
6.43
6.66
6.78
6.53
7.50
6.88
6.76
7.18
7.71
7.95
7.98
7.77
7.57
7.52
7.00
6.76
6.72
6.87
7.13
6.99
6.92
7.28
7.15
7.47
26
14.42
4.81
4.57
5.05
14.28
4.72
4.27
5.29
13.77
4.44
4.12
5.21
13.09
4.30
3.59
5.20
12.91
4.26
3.46
5.20
12.12
3.92
3.18
5.02
12.01
3.91
3.05
5.05
12.13
4.01
3.32
4.81
12.63
4.54
3.23
5.16
13.51
4.68
3.44
5.38
13.70
4.70
3.49
5.51
13.84
4.65
3.65
5.54
14.03
4.59
3.76
5.68
14.60
4.59
4.31
5.69
15,21
5.08
4.33
5.80
15.21
5.08
4.58
5.55
16. 18
5.21
5.07
5.91
16.93
5.11
5.68
6.13
18.11
5.60
6.18
6.32
19.12
5.87
6.57
6.67
19.82
6.34
6.88
6.60
20.28
6.70
7.16
6.42
9.66
5.98
7.22
6.47
9.50
5.71
7.25
6.54
27
28
29
30
4.85 5.03
2.02
2.15
2.83 "2.88
5.33
2.34
2.99
5.41
2.40
3.01
5.28
2.34
2.94
5.28
2.54
2.74
5.13
2.58
2.54
5.43
2.62
2.81
5.45
2.75
2.71
5.30
2.72
2.58
5.31
2.73
2.58
5.48
2.74
2.74
5.65
2.79
2.86
5.79
2.77
3.02
6.01
2.75
3.26
6.40
2.92
3.48
6.68
3.00
3.68
7.38
3.34
4.04
7.50
3.57
3.93
7.66
3.77
3.88
7.77
4.04
3.73
7.77
4.19
3.58
7.96
4.33
3.64
31
32
33
32.21
4.90
1.98
2.92
23
24
SURVEY OF CURRENT BUSINESS
36
September 1981
Table 8.—-New Plant and Equipment Expenditures by U.S. Nonfarm Business;
[Billions of
1957
Line
I
1 Total nonfarm business
--
III
IV
I
II
1959
III
IV
I
11
1960
III
IV
I
II
1961
III
IV
II
I
III
IV
67.98 68.87 68.29 65.62 63.36 58.61 57.53 57.52 58.68 60.63 62.88 63.17 66.37 68.08 65.65 66.68 65.11 64.88 65.97 67.45
Manufacturing
2
II
1958
25.20 25.68 25.18 23.60 21.39 18.60 17.07 16.35 17.46 18.11 18.94 20.02 21.40 22.73 22.36 22.27 21.10 21.16 20.70 21.43
3
4
5
6
7
8
9
10
11
12
13
14
Durable goods. l
Primary metals
Blastfurnaces
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment '
Motor vehicles—.
Aircraft
Stone, clay, and2 glass
Other durables
12.38 12.82 12.36 11.55 10.59
3.16 3.67 3.85 3.57 3.00
1.84
.99 2.13 2.07 1.87
1.06
.37 1.41 1.24
.99
.02 1.04
.89
.87
.96
1.06
.04 1.01
.97
.90
.82 1.83 1.85 1.60
1.70
3.36 3.14 2.69 2.35 2.26
2.51 2.26 1.92 1.62 1.63
.72
.51
.75
.62
.66
1.19 1.21 1.11 1.00 1.02
.94
1.02
.83
.93
.85
8.92
2.39
1.57
.70
.71
.82
1.26
2.07
1.55
.39
.80
.87
8.08
2.05
1.35
.58
.72
.72
1.12
1.92
1.42
.38
.66
.88
7.57
1.71
1.11
.52
.66
.76
1.09
1.78
1.30
.37
.68
.88
8.16 8.86
1.64 1.80
1.05 1.18
.50
.52
.71 .79
.82
.90
1.12 1.29
2.11 2.13
1.59 1.58
.41 .44
.84
.92
.91 1.04
9.26 9.84 10.92 11.35 11.21 11.06 10.23 9.91 9.64 10.05
1.40 1.95 2.39 2.57 2.59 2.32 2.05 1.78 1.62 1.62
.88 1.36 1.74 1.92 1.99 1.72 1.46 1.24 1.05 1.06
.42 • .47
.37
.43
.40
.45
.42
.43
.39
.45
.92
.72
.70
.73
.72
.63
.94
.90
.85
.77
1.01 1.05 1.17 1.28 1.37 1.61 1.49 1.49 1.51 1.28
1.41 1.49 1.64 1.63 1.52 1.51 1.53 1.45 1.33 1.45
2.29 2.27 2.52 2.55 2.66 2.60 2.30 2.35 2.29 2.49
1.70 1.74 1.83 1.93 2.02 1.99 1.74 1.80 1.78 1.88
.44
.44
.50
.43
.38
.50
.46
.43
.45
.47
.87
.85
1.09
.95 1.10
.99 1.09 1.16 1.06 1.00
1.14 1.16 1.21 1.31 1.25 1.29 1.28 1.28 1.30 1.38
15
16
17
18
19
20
21
22
Nondurable goods
Food including beverage
Textiles... .
Paper
Chemicals
Petroleum
Rubber
Other non durables 3
12.82 12.86 12.82 12.05 10.80
1.73 1.72 1.72 1.75 1.50
.54
.45
.39
.50
.38
.93
1.26 1.24 1.15 1.03
2.31 2.45 2.56 2.48 2.25
5.53 5.43 5.50 5.04 4.42
.49
.52
.46
.47
.38
.89
.94
.99
.95
.98
9.69
1.59
.30
.81
1.98
3.84
.32
.84
8.99
1.52
.29
.82
1.75
3.45
.30
.87
8.78
1.52
.31
.70
1.52
3.55
.29
.89
9.31
1.58
.34
.80
1.54
3.78
.35
.91
9.68 10.18 10.48 11.38 11.14 11.21 10.88 11.25 11.06 11.38
1.69 1.73 1.74 1.85 1.84 1.85 1.93 1.95 2.05 2.15
.49
.48
.47
.54
.43
.53
.58
.58
.56
.59
.91 .78
.94 1.00 1.02 1.07 1.08 1.05
.96
.77
1.59 1.80 1.99 2.20 2.27 2.20 2.03 2.23 2.21 2.26
3.75 3.75 3.69 4.14 3.84 4.15 4.05 4.21 4.15 4.20
.48
.48
.56
.42
.49
.46
.42
.47
.43
.47
.90
.97
.94
.97 1.08 1.05
.91
.95
.97
.87
23
9.25
1.61
.41
.82
1.54
3.65
.35
.86
42.78 43.19 43.11 42.02 41.97 40.01 40.46 41.17 41.21 42.52 43.94 43.15 44.97 45.35 43.30 44.41 44.00 43.72 45.27 46.03
Nonmanufacturing
24
Mining
2.55
2.43
2.42
2.20
2.09
2.02
1.90
1.97
1.87
1.75
1.82
1.87
1.71
1.83
1.73
1.65
1.61
1.7C
1.71
1.76
25
Transportation
4.38
4.74
4.86
4.49
3.91
2.98
2.62
3.09
3.44
4.19
4.74
4.19
4.42
4.43
3.94
3.86
3.55
3.42
3.81
3.88
26
Public utilities .
8.20
8.31
8.68
8.42
7.83
7.29
7.75
7.77
7.52
7.31
6.84
6.77
7.33
6.97
6.79
6.98
6.83
6.84
6.85
6.86
27
28
29
30
Trade and services
Wholesale and retail trade
Finance, insurance, and real estate
Personal, business, and professional services. _ -.
31
32
33
Communication and other _
Communication
Other 4
19.25 19.29 18.87 18.85 20.00 19.63 20.18 20.35 20.61 21.36 22.32 22.07 22.90 23.25 21.92 22.88 23.02 22.86 23.6: 24.15
5.38 5.30 4.80 4.73 5.14 4.71 5.10 5.06 5.30 5.46 5.78 5.57 5.48 5.73 5.44 5.59 5.49 5.49 5.36 5.78
7.22 7.31 7.48 7.74 8.29 8.05 7.98 7.98 8.25 9.16 9.67 9.29 9.71 9.60 9.22 9.66 9.78 9.31 9.44 9.82
6.65
6.68
6.59
6.39
6.56
6.87
7.11
7.31
7.07
6.75
6.87
7.21
7.72
7.92
7,26
7.63
7.75
8.06
8.81
8.55
8.40
4.48
3.92
8.43
4.51
3.92
8.28
4.42
3.86
8.05
4.29
3.76
8.15
4.39
3.77
8.09 8.00
4.16 3.95
3.93 . 4.06
7.99
3.97
4.02
7.78
3.87
3.91
7.89
4.04
3.85
8.22
4.24
3.97
8.25
4.34
3.91
8.61
4.59
4.02
8.88
4.79
4.09
8.92
4.92
4.00
9.05 9.00
4.94 4.85
4.11 4.15
8.90
4.79
4.1:
9.29
4.90
4.39
9.37
5.07
4.30
1970
1969
Line
I
1 Total nonfarm business . _.
3
4
5
6
7
8
9
10
11
12
13
14
Durable goods
Primary metals l
Blast furnaces
Nonferrous metals. __
Fabricated metals
Electrical machinery
Machinery , except electrical
Transportation equipment 2
Motor vehicles
Aircraft ... _. _ _
Stone, clay, and3glassOther durables
15
16
17
18
19
20
21
22
Nondurable goods
Food including beverage
Textiles
Paper Chemicals
Petroleum _
Rubber
Other nondurables 3
Mining -.
24
IV
I
_ __
_ __
_.
17.34 18.18
2.88 2.97
.96
.88
1.61 1.82
3.30 3.29
5.78 5.87
1.21 1.27
1.69 2.01
19.29 19.18 18.93
3.17 3.47 3.66
1.06
.97
.90
1.91 1.93 2.01
3.47 3.55 3.58
6.25 6.16 5.54
1.24 1.15 1.13
2.18 1.94 2.11
IV
I
II
III
IV
I
II
III
IV
I
II
III
IV
18.74 18.81 18.08
3.55 3.62 3.53
.84
.86
.84
1.98 1.83 1.71
3.69 3.86 -3.49
5.66 5.64 5.66
.84
1.07
.96
1.93 2.06 2.01
18. 13 17.59 17.08 17.01 16.84 17.12 16.88 17. 79 18.01 18.25 19.12 19.59
3.46 3.63 3.37 3.33 3.28 3.29 3.30 3.21 3.28 3.36 3.50 3.74
.96
.98 1.01
.82
.99 1.04
.91 .94 1.04 1.14 1.11 1.02
1.48 1.28 1.30 1.26 1.39 1.42 1.42 1.57 1.64 1.81 2.13 2.03
3.50 3.38 3.31 3.30 3.37 3.34 3.28 3.49 3.58 3.89 4.19 4.52
5.90 5.54 5.48 5.05 4.76 4.92 4.65 4.84 4.28 4.18 4.38 4.75
.84
.79
.87
.95 1.08 1.19 1.47 1.45 1.52 1.49
.76
.87
2.13 2.09 1.90 2.16 2.04 2.10 2.14 2.50 2.71 2.58 2.39 2.08
1.91
2.03 2.06
2.10
2.12
2.06
2.23
2.40
2.56
2.79
2.89
2.91
2.94
3.00
2.54
3.00
2.78
2.96
3.33
3.40
8.62
7.71
7.96
7.48
7.43
7.86
7.24
5.62
6.56
5.87
6.22
6.96
7.01
6.33
6.53
6.95
7.11
7.35
7.14
Transportation
26
Public utilities
27
28
29
30
31.31 32.13 33.67 32.97 33.23
Trade and services
Wholesale and retail trade
_ 7.91 8.12 8.88 9.43 9.58
10.24 10.32 11.07 10.30 9.90
Finance, insurance, and real estate .
Personal, business, and professional
13.17 13.69 13.72 13.24 13.75
services
31
32
33
Communication and other
Communication
_ .
Other4.
...
7.71
13.54 13. 66 13.53 13.68 13.48 14.22 14.98 14. 61 14.88 15.25 15.64 15.36 16.19 15.99 16.26 16.56 16.84 16.87 17.36 17.50
32.60 32.11 31.68 33 14 34.53 35.82 37.26 37.75 37.92 40.17 43.62 43. 15 45.57 43.59 42.46
9.67 9.58 9.14 9.50 9.11 9.56 10.06 10.21 10.89 11.10 11.49 12.05 12.68 12.12 12.36
9.49 9.36 9.50 10.29 11.39 11.92 12.56 12.20 12.64 13.74 15.74 15.32 16.48 15.32 14.44
13.44 13.17 13.04 13.35 14.03 14.33 14.63 15.34 14. 38 15.33 16.39 15.79 16.41 16.15 15.66
16.37 16.52 17.46 17.65 18.14 19.26 19.26 18.69 18.44 18.65 18.42 18.08 19.04 18. 16 18.73 19.89 20.34 20.65 19.98 20.58
9.67 9.77 10. 58 10.76 11.09 12.00 12.15 11.82 12.04 12.00 11.54 11.08 12.21 11.79 11.97 13.01 12.63 12. 99 13.29 13.41
6.70 6.75 6.88 6.88 7.05 7.26 7.11 6.87 6.40 6.65 6.88 7.00 6.83 6.36 6.75 6.88 7.72 7.65 6.69 7.17
Includes industries not shown separately.
Consists of lumber, furniture, instruments, and miscellaneous.
Consists of apparel, tobacco, leather, and printing-publishing.
Consists of construction; social services and membership organizations; and forestry,
fisheries, and agricultural services.
III
39.53 40.84 42.15 41.45 41.43 40.79 39.93 37.84 35.96 34. 93 33.84 34.34 33.99 34.61 35.17 37.35 38. 55 40. 14 41.54 42.51
22.19 22.66 22.86 22.27 22.49 22.06 21.12 19.76 17.83 17.34 16.76 17.33 17.15 17.49 18.29 19.56 20.54 21.89 22.41 .22.93
3.98 3.88 3.75 3.51 3.56 3.49 3.50 3.49 3.13 2.97 2.57 2.56 2.4'3 2.33 2.47 2.49 2.57 2.81 2.99 3.09
2.30 2.16 2.06 1.87 1.86 1.82 1.76 1.62 1.57 1.27 1.22 1.22 1.05 1.06 1.05 1.10 1.11 1.17 1.22 1.27
.94 1.01
.89
.98 .99 1.05 1.21 1.29 1.37
1.18 1.28 1.20 1.18 1.24 1.19 1.29 1.39 1.08 1.23 .98
1.51 1.54 1.49 1.50 1.38 1.33 1.28 1.25 1.15 1.25 1.28 1.26 1.29 1.34 1.47 1.56 1.66 1.77 1.74 1.80
2.54
2.76
3.03
3.84
3.20
3.15
2.81
3.08 3.19 3.33 3.47 3.52
3.71
3.90
3.51
3.20
3.52 3.80 3.97
3.61
3.80 3.93 4.21 4.20 4.34 4.28 4.00 3.61 3.41 3.32 2.92 3.27 2.84 2.96 3.29 3.73 3.81 4.04 3.95 3.68
5.32 5.38 5.74 5.15 5.38 5.24 4.82 4.44 3.70 3.48 3.60 3.83 4.22 4.32 4.48 4.60 5.00 5.26 5.53 6.08
3.22 3.25 3.47 3.36 3.41 3.49 3.20 2.83 2.47 2.31 2.46 2.71 2.82 3.01 3.04 3.14 3.32 3.53 3.88 4.12
.93
.81
.64
.72
.80
.62
.63
.64
.70
.79
.71
.67
.80
1.51 1.61 1.60 1.16 1.13 1.05 .87
1.23 1.29 1.30 1.23 1.19 1.20 1.10 1.09
.98
.85 1.01 1.01 1.28 1.28 1.34 1.42 1.49 1.60 1.53 1.48
_ _ 2.75 2.93 2.85 2.88 2.68 2.62 2.57 2.36 2.26 2.27 2.24 2.37 2.56 2.45 2.48 2.67 2.82 3.07 3.20 3.28
25
1.
2.
3.
4.
II
71.75 72.05 74.42 74.36 74.44 75.57 76.45 74.62 74.64 77.78 78.64 79.83 82.88 82.08 84.03 89.60 90.06 93.16 91.61 91.07
Nonmanufacturing
23
III
111.28 112.90 116.57 115.81 115.87 116.36 116.38 112.46 110.60 112.71 112.48 114. 17 116.87 116.69 119.20 126.95 128.61 133.30 133.14 133.59
__ _
Manufacturing-
2
II
1973
1972
1971
SURVEY OF CURRENT BUSINESS
September 1981
37
Annually, 1947-80, and Quarterly, Seasonally Adjusted at Annual Rates, 1947-80—Continued
1972 dollars]
1962
I
III
II
IV
I
III
II
IV
I
II
III
1966
1965
1964
1963
IV
I
II
III
IV
I
II
1967
III
IV
I
II
1968
III
IV
I
II
Line
HI
IV
68.3C 69.63 72.03 70.24 68.41 71.09 73.66 75.44 78.80 81.91 84.05 85.96 87.79 91.57 94.56 98.96 102.35 104.93 107.70 108.34 105.84 104.31 103.71 103.63 107.30 104.77 105.16 107.83
1
21.23 21.27 21.82 21. 6S 21.59 22.58 23.66 24.10 26.08 27.18 28.32 30.33 30.65 32.28 33.95 35.88 37.65 39.61 40.62 41.39 41.61 40.37 38.68 38.34 38.31 37.51 38.29 38.47
2
21.60 22.13 22.68 22.55 21.95 21.40 21. 39 21.40 20.28 21.15 21.36
3.99 3.95 4.04 4.22 4.19 4.07 3.96 4.04 3.90 4.27 4.13
2.20 2.21 2.24 2.39 2.41 2.35 2.30 2.34 2.23 2.51 2.47
1.32 1.30 1.38 1.43 1.41 1.36 1.29 1.32 1.28 1.36 1.28
1.45 1.46 1.49 1.59 1.48 1.34 1.86 1.60 1.43 1.78 1.58
3.05 3.26 3.53 3.88 3.84 3.83 3.80 3.95 3.68 3.65 3.60
3.54 3. 63 3.78 3.95 3.90 3.70 3.22 3.62 3.10 3.31 3.52
5.77 5.90 5.93 5.57 5.39 5.18 5.32 4.95 4.86 4.93 5.00
3.85 3.86 3.89 3.52 3.51 3.30 3.34 3.19 3.00 3.04 3.02
1.55 1.64 1.61 1.68 1.48 1.42 1.60 1.39 1.40 1.48 1.50
.98 1.11 1.03 1.09
1.39 1.48 1.60 1.32 1.14 1.10 1.01
2.41 2.45 2.32 2.03 2.01 2.18 2.22 2.26 2.19 2.19 2.44
3
4
5
6
7
8
9
10
11
12
13
14
11.12 11. 13 11.26 10.99 11.32 12.19 12.26 12. 96 13.43 13.87 14.79 15.06 15.61 16.08 16.71 17.28 18.02 18.48 18.71 19. 05 18.42 17.28 16.95 16.91 17.23 17.14 17.11
1.98 1.83 1.93 1.84 1.91 2.08 2.08 2.35 2.28 2.35 2.26 2.18 2.40 2.44 2.66 2.70 2.61 2.68 2.70 2.70 2.62 2.47 2.31 2.39 2.57 2.83 2.59
.63
.54 .56 .58 .56
.60
.62
.82 .99 .93
.96 1.09 1.20 1.24 1.35 1.23 1.16 1.13 .99
.56
.69
.78
.91 .86
.75
.76
.81
.81 .83 .93 .81 .92 1.02
.99 1.09 1.13 1.19 1.40 1.40 1.36 1.41 1.44 1.50 1.65 1.70 1.85 2.03 1.95 1.91 1.56 1.40 1.58 1.43 1.57
2.15 2.10 2.11 2.28 2.24 2.30 2.31 2.32 2.57 2.87 3.19 3.44 3.60 3.78 3.93 3.89 4.18 4.36 4.53 4.39 4.00 3.64 3.22 3.42 3.44 3.19 3.16
4.13 4.41 4.20 4.13 4.21 4.48 4.66 4.76 4.97 4.84 5.05 5.14 5.30 5.40 5.54 5.79 5.83 5.91 5.91 6.18 6.31 5.78 6.07 6.13 5.95 5.89 5.84
.54 .50 .47 .44
.52
.47
.61
.77
.60 .64 .75
.77
.77
.63 .59
.78 .85
.84
.78
.74
.93
.98 1.05 1.20 1.27
.81 .77
.96 .89 1.03 .93
.95 1.10 1.13 1.19 1.18 1.20 1.27 1.22 1.23 1.20 1.19 1.38 1.55 1.76 1.76 1.86 1.75 1.84 1.99 1.82 1.89 1.83 1.87
15
16
17
18
19
20
21
22
9.83
1.5S
1.01
.39
.76
1.28
1.55
2.42
1.83
.44
.90
1.34
11.40
2.02
.49
.80
2.26
4.36
.51
.95
10.15
1.63
1.01
.42
.75
1.27
1.64
2.56
1.87
.53
1.02
1.29
10. 7C
1.71
1.04
.46
.81
1.33
1.70
2.67
1.87
.63
.99
1.48
10.43
1.7C
.95
.53
.81
1.34
1.61
2.71
1.95
.59
.98
1.29
10.60 11.26 11.46 11.84 13.12 13.76 14.45 15.53
1.75 1.98 2.18 2.19 2.75 2.79 2.98 3.27
1.02 1.15 1.26 1.32 1.79 1.77 1.91 2.13
.55
.72
.67
.79 .81
.63
.61 .67
.79
.83 .92 1.02
.98 1.21 1.08 1.08
1.35 1.40 1.25 1.30 1.42 1.42 1.53 1.65
1.53 1.55 1.59 1.69 1.83 1.99 2.12 2.25
2.90 . 3.07 3. 11 3.24 3.55 3.73 4.03 4.41
2.17 2.35 2.40 2.45 2.73 2.96 3.29 3.60
.58
.59
.58
.60
.62
.47 .53
.57
.95
.92
.94
.94 1.07 1.08 1.05 1.13
1.34 1.50 1.47 1.46 1.53 1.53 1.66 1.73
15. 59 16.67 17.87 19.16 20.36
3.08 3.17 3.43 3.75 3.73
1.93 2.06 2.15 2.23 2.14
.83
.80
.93 1.12 1.18
1.04 1.13 1.13 1.14 1.35
1.69 1.96 2.35 2.54 2.75
2.34 2.59 2.96 3.37 3.44
4.53 4.71 4.88 4.99 5.43
3.73 3.83 3.89 3.85 3.92
.54
.55
.76
.88 1.15
1.07 1.14 1.19 1.20 1.36
1.85 1.97 1.93 2.17 2.30
47.07 48.37 50.20 48.54 46.82 48.51 50.01 51.34 52.72 54.73 55.73 55.64 57.14 59.29 60.61 63.08 64.71 65.32 67.08 66.95 64.23 63.94 65.02 65.29 68.99 67.26 66.87 69.36
23
1.95 1.90 1.96 1.75 1.71
1.63
1.67
1.77
1.77
1.73
1.75
1.82
1.76
1.84
1.80
1.80
1.83
1.91
1.77
1.74
1.57
1.59
1.84
1.84
1.87
1.73
1.64
1.64
4.12 4.58 4.18 3.70 3.80
4.16
4.24
4.93
5.42
5.46
5.92
5.98
6.45
6.70
7.41
7.10
7.38
8.57
8.06
7.96
7.20
7.60
7.88
8.14
8.41
7.49
7.97
7.98
25
6.68 6.73 6.89 6.82 6.66
7.02
7.45
7.36
7.49
7.73
7.79
7.92
8.22
8.33
8.55
9.14
9.62
9.76 10.50 10.39 10.75 11.41 11.84 12.41 12.76 12.77 12. 25 13.05
26
24.22 25.01 27.14 26.08 24.60 25.46 26.11 26.50 26.73 28.11 28.33 27. 90 28. 59 29.17 29.37 31.57 32.07 31.30 32.57 32.11 30.26 28.96 28.84 28.45 30.74 30.71 30.52 31.11
5.62 5.88 6.40 6.05 6.07 6.14 6.76 6.83 7.00 7.40 7.51 7.96 8.63 8.24 8.21 8.73 8.80 8.48 9.21 9.00 8.78 8.65 8.46 8.36 8.73 8.43 8.20 8.02
9.70 9.87 11.04 9.55 8.92 8.84 8.66 8.54 8.43 9.28 9.17 8.91 8.60 8.72 8.82 9.59 9.92 9.49 9.57 9.37 8.78 8.11 7.61 8.05 8.42 9.38 9.76 9.85
27
28
29
8.90 9.26 9.70 10.48 9.62 10.48 10.69 11.13 11.31
24
11.43 11.65 11.03 11.37 12.20 12.34 13.25 13. 35 13.33 13.79 13.73 12.70 12.20 12.77 12.03 13.59 12.90 12.57 13.24
30
10.10 10.15 10.03 10.20 10.06 10.25 10.54 10.78 11.32 11.70 11.93 12. 01 12.11 13. 25 13.49 13.48 13.80 13.78 14.18 14.74 14.45 14.38 14.62 14.45 15. 21 14. 56 14.48 15.58
5.70 5.57 5.48 5.48 5.45 5.59 5.86 6.07 6.36 6.61 6.71 6.67 6.93 7.29 7.62 7.88 8.08 8.36 8.45 8.72 8.55 8.64 8.76 8.59 9.03 8.37 8.51 9.29
4.40 4.58 4.56 4.72 4.61 4.66 4.68 4.71 4.96 5.10 5.23 5.34 5.18 5.96 5.87 5.60 5. 72 5.41 5.73 6.02 5.90 5.74 5.86 5.85 6.18 6.19 5.97 6.29
31
32
33
1974
I
II
III
1975
IV
I
II
1976
III
IV
I
II
1977
III
IV
I
II
1978
III
IV
I
II
1980
1979
III
IV
I
II
III
IV
I
II
Line
III
IV
135.70 13764 13523 13213 125.29 119.70 117.05 116.60 119. 99 121.27 124.51 126.67 131.03 133.48 138.74 136.27 139.56 145. 95 146.23 152.21 153. 99 156.61 157.60 160.91 161.87 159.27 157.36 155.61
1
44.70 16.15 16.01 46.32 44.11 41.86 39.67 39.19 40.77 41.39 43.25 43.94 44.68 45.66 47.69 46.31 46.05 48.64 48.44 51.24 52.84 54.14 55.86 58.18 60.23 60.61 59.88 59.69
2
25.47 25.90 27.14 28.02 29.02 30.03 31.11 32.32 32. 15 31. 14 31.52
3.71 3.59 3.59 3.52 3.66 3.78 3.96 4.20 4.01 4.02 3.54
1.74 1.56 1.48 1.42 1.59 1.77 1.92 1.95 1.81 1.62 1.36
1.26 1.30 1.40 1.41 1.32 1.25 1.31 1.52 1.49 1.68 1.57
1.91 1.83 1.78 1.76 1.84 1.76 1.72 1.72 1.59 1.62 1.42
3.85 3.71 3.97 4.22 4.11 4.44 5.04 5.25 5.37 5.73 5.72
4.73 4.75 4.76 5.30 6.36 6.64 6.81 6.49 6.44 6.12 6.76
7.05 7.64 8.45 8.45 8.26 8.97 9.01 9.84 9.80 9.20 9.53
4.58 4.53 4.66 4.54 4.55 4.92 4.83 4.81 4.69 4.56 4.72
1.65 2.C6 2.55 2.59 2.79 3.07 3.36 4.06 3.99 3.58 3.50
1.84 1.94 2.09 2.28 2.25 2.15 2.16 2.15 2.01 1.91 1.82
2.38 2.45 2.51 2.49 2.55 2.30 2.41 2.67 2.92 2.55 2.73
3
4
5
6
7
8
9
10
11
12
13
14
25.12 25.82 27.07 27.91 28.46 28.74 28.17
3.85 3.65 3.82 3.93 4.05 3.93 3.78
.84
.88
.88
.88
.80
.80
.89
3.16 3.17 3.30 3.55 3.68 3.67 3.64
6.09 6.21 6.38 6.88 6.78 6.89 6.12
7.26 7.70 8.51 8.35 8.56 9.31 9.59
.82
1.29 1.23 1.15 1.01
.93
.97
2.67 2.98 3.04 3.31 3.62 3.17 3. 34
15
16
17
18
19
20
21
22
91.00 91.49 89.21 95.81 81.18 77.84 77.37 77.41 79.22 79.88 81.26 82.73 86.35 87.82 91.05 88.97 93.51 97.31 97.79 100. 97 101. 15 102.47 101.74 102.72 101.63 98.66 97.48 95.92
23
24.12 24.44
3 53 3.73
1.42 1.62
1.62 1.65
1.79 1.71
3.82 3.66
4.01 4.40
6.41 6.44
4.35 4.24
1.29 1.21
1.39 1.47
3.17 3.03
24.02
3.82
1.66
1.74
1.68
3.43
4.72
5.91
3.65
1.37
1.55
2.90
23.79 22.28 20. 79 19.11 18.91 19.16
4.30 4.57 4.76 4.08 4.11 4.00
1.92 2.21 2.37 2.25 2.27 2.19
1.89 1.78 1.96 1.45 1.34 1.38
1.60 1.75 1.54 1.41 1.38 1.46
3.00 2.73 2.53 2.35 2.34 2.43
5.26 4.42 4.01 3.64 3.49 3.71
5.54 5.05 4.48 4.46 4.19 4.23
3.14 2.93 2.48 2.49 2.36 2.23
1.41 1.34 1.36 1.29 1.23 1.20
1.35 1.36 1.28 1.13 1.28 1.25
2.75 2.41 2.19 2.04 2.11 2.10
20.01
4.00
2.10
1.35
1.58
2.60
3.83
4.54
2.47
1.28
1.26
2.21
21.25 22.27 22.98 22.79 24.32 23.66 23.83
4.39 4.04 3.79 3.72 3.66 3.55 3.25
2.27 2.16 2.03 1.94 1.89 1.74 1 47
1.51 1.35 1.27 1.29 1.25 1.23 1.16
1.74 1.71 1.68 1.65 1.73 1.79 1.82
2.81 2.99 3.09 3.13 3.45 3.55 3.62
4.14 4.62 4.70 4.47 4.86 4.58 4.62
4.53 5.17 5.68 5.98 6.52 6.33 6.49
2.56 3.18 3.66 3.76 4.11 4.22 4.22
1.25 1.23 1.26 1.34 1.53 1.36 1.54
1.35 1.46 1.40 1.52 1.61 1.51 1.74
2.29 2.28 2.45 2.52 2.49 2.35 2.29
20.58 21.71
3.57 3.54
1.03 .99
2.31 2.54
4.94 5.39
5.41 5.65
1.39 1.47
1.92 2.13
21.99
3.45
.94
2.58
5.96
5.62
1.29
2.15
22.53 21.83 21.07 20.56 20.28 21.61
3.36 3.23 2.99 3.08 2.94 3.36
.65
.82
.61
.66
.78
.76
2.50 2.43 2.19 2.13 2.27 2.09
5.97 5.94 6.03 5.71 5.33 5.79
6.59 6.63 6.69 6.34 6.41 6.95
.83
1.25 1.02
.87
.80
.91
2.05 1.93 1.73 1.77 1.76 1.73
21.37
3.48
.75
2.11
5.75
6.63
.99
1.65
22.00 21.67 21.89 22.68 23.37 22.64 22.23 23.17 22.54 24.10 24.83
3.55 3.50 3.19 3.51 3.63 3.66 3.77 3.74 3.67 3.92 3.90
.74
.84
.80
.85
.86
.86
.86
.83
.71
.88
.81
2.30 2.34 2.39 2.52 2.45 2.42 2.36 2.45 2.55 2.66 3.09
5.87 5.76 5.55 5.43 5.52 5.50 5.29 5.25 5.21 5.33 5.68
6.96 6.60 7.15 7.28 7.79 7.10 6.67 7.38 6.70 7.52 7.48
.92
.96
.97 1.04 1.21 1.26 1.30 1.36 1.32 1.32 1.34
1.68 1.80 1.84 2.06 1.92 1.86 1.98 2.10 2.24 2.51 2.52
3.52 3.69 3.67 3.95
6.72 7.22 7.07 7.27
4.02
7.18
4.16
6.38
4.04
6.40
4.30
5.99
4.42
5.67
4.37
6.47
4.84
6.07
5.05
6.40
5.38
6.20
5.35
6.68
5.58
6.16
4.85
6.02
4.85
6.79
5.17
6.25
5.22
6.48
5.33
6.80
5.33 5.09
6.61 6.72
5.04
6.93
5.10
7.06
4.93
6.50
5.11
6.13
5.32
6.13
5.65
24
5.74
25
17.11 16.97 17.00 17.20 17.61 18.38 18.14 18.55 18.69 17.70 18.51 17.47 17.33 16.55
26
42 75 41.64 41.29 38.92 36.65 36.34 35.77 36.50 37.38 37.32 38.07 37.63 39.44 39.99 42.50 42.06 43.93 46.98 45.92 48.08 48.63 49.51 48.30 49.88 48.19 46.90 46.60 46.94
11.56 11.85 12.81 11.38 10.34 10.02 9.40 9.52 10.39 10.44 10.48 10. 78 11.32 11.17 12.22 11.93 12. 37 12.39 13.03 13.19 13.01 13.84 13.32 13.74 12.66 12.96 11.82 10.98
14.99 14.15 14.04 13. 41 12.86 14.29 13.16 13.83 13.23 12.62 12.88 11.72 12.81 13.19 14.21 14.95 16.36 17.30 17 38 18.06 18.22 18.88 18.52 19.62 18.86 18.27 18.77 19.61
27
28
29
17.22 17.56 16.49 15.66 14.60 13.86 14.04 14.46 14.84 14.82 14.80 14.99 16.66 16.62
16. is
30
20.79 21.39 20.70 20.01 18.72 17.10 •17.12 16.16 16.90 16.90 17.47 18.66 18.66 19.17 19.70 20.06 20.94 21.72 22.56 22.38 22.44 22.59 22.78 22.98 23.51 23.04 22.09 21.03
13.98 14.08 13.53 13.22 12.21 11.20 10.93 10.40 10.58 10.77 11.22 12.20 12.24 13.08 13.81 13.87 14.67 15. 20 15.67 15.73 15.96 16.34 17.03 17.60 18.15 17.70 16.91 15.66
6.81 7.31 7.17 6.79 6.51 5.89 6.19 5.77 6.32 6.13 6.26 6.46 6.42 6.09 5.89 6.19 6.27 6.52 6.89 6.65 6.49 6.25 5.75 5.38 5.36 5.34 5.18 5.37
31
32
33
16.19 15.63 14.44 14.12 13.45 12.03 13.20 13. 15 13.76 14.26 14.71 15.13 15.32 15.63 16.07 15.17 15.19 17.29 15.52 16.84 17.40 16.79 16.45 16.52 16.68 15.67 16.01
SURVEY OF CUEEENT BUSINESS
38
year in November and December, has sents the correlation coefficients, by inasked respondents for their best esti- dustry, for 1971-80 between the survey
mates of changes in the prices paid for estimates of capital goods price changes
capital goods for the current year and (in the current year) and the correfor the following year.9 Table 7 pre- sponding percent changes in the implicit
price deflators for P&E expenditures.
The correlation coefficients are fairly
9. The responses to this question, with special
high,
especially for rubber, blast furemphasis on the price estimates for the following
naces, food including beverage, and
year, are analyzed in Frank de Leeuw and Michael
J. McKelvey, "Price Expectations by Business
paper in manufacturing and for most
Firms," Brookings Papers on Economic Activity,
nonmanuf acturing industries. With the
no. 1 (1981), pp. 299-313.
September 1981
exception of 1975, the two series on
price changes for each industry moved
together. In 1975, most industries reported a decline in the rate of increase
of capital goods prices, but the deflator
shows an increase. For all years except
1975, for total nonfarm business the
price increase for capital goods reported by survey respondents was
higher than the increase in the implicit
price deflators presented in this article.
Table 9.—New Equipment Expenditures by U.S. Nonfarm Business; Annually,
[Billions of
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
1 Total nonfarm business
26.79
27.96
23.22
23.90
28.03
28.91
30.10
28.56
30.15
35.57
35.80
29.32
30.95
34.32
33.02
35.82
2
12.69
12 48
9.38
9 75
12.34
13.23
13.78
13.29
13.23
16.45
16.39
11.92
12.58
14.72
13.66
14.17
5.44
7 24
5.36
7 12
3.87
5 51
4.51
5 23
5.98
6.36
6.52
6.71
6.93
6.85
6.91
6.38
6.97
6.26
9.01
7.45
8.58
7.81
6.15
5.76
6.90
5.68
8.23
6.49
7.43
6.23
8.09
6.08
14.10
15.49
13.84
14.15
15.69
15.68
16.31
15.26
16.92
19.12
19.41
17.41
18.37
19.60
19.36
21.65
1.72
3.54
3.24
6.80
4.11
1.44
2.47
2.71
6.71
4.08
1.30
3.53
2.48
7.19
3.87
1.21
3.41
2.62
7.98
4.37
1.14
3.05
2.46
7.92
4.78
1.26
3.40
2.50
8.94
5.55
III
IV
Line
Manufacturing
3
Durable goods..
Nondurable goods .
4
Nonmanufacturing
5
Mining
Transportation . .
Public utilities
Trade and services
Communication anrj other
6
7
g
9
10
1.14
3.66
1.05
5.50
2.75
1 43
4.06
1.79
5.16
3.05
1.28
3.39
2.11
4.77
2.28
1 11
3.25
2.09
5 49
2.21
1.39
4.08
2.15
5.59
2.47
1.50
3.80
2.53
5.13
2.72
1 Total nonfarm business
2
...
Manufacturing
3
Durable goods
Nondurable goods .
4
Nonmanuf acturing .
5
6
7
8
9
10
Mining
Transportation
Public utilities
Trade and services
Communication and other
1.50
2.80
2.§6
5.70
2.60
1.47
2.97
2.47
6.67
3.33
1.78
3.38
2.68
7.53
3.75
I
II
III
IV
I
68.43
68.95
69.85
75.56
76.85
23.89
24.27
25 09
27.44
28.14
13 36
10.53
13 59
10.68
14 29
10.80
15 77
11 67
44 54
44 69
44.76
1 49
6.05
7.30
17.84
11.86
1 56
5.94
7.00
18 60
11.59
> 1 36
5.29
6.85
19 28
11.98
19 75
19 74
IS 73
1972
Line
1.48
3.63
2.98
5.64
2.59
I
I
II
83.94
78.87
74.48
72.17
71.08
34.52
32.40
30.45
28.39
27.98
19.07
14.81
18 89
15.63
17.55
14.86
16.45
14.00
14.85
13.54
14.48
13.51
52 77
51.68
49 42
46.47
44.04
43.78
43.10
1 95
6.01
8.27
22 89
13.64
1 97
5.69
7.45
23 31
13. 27
2 09
5.61
6.71
21.76
13.24
2.21
5.32
6.07
20.57
12.30
2.28
4.62
5.52
20.60
11.01
2.14
4.59
5.65
20.40
11.01
2.29
4.13
6.06
20.37
10.24
III
IV
86.36
85.57
33 59
33.89
18 68
13.34
19 16
14 43
50 43
50 61
1 69
5.84
7.35
22 94
12.61
1 72
5.50
7.68
22 73
12.99
III
IV
79.13
80.72
81.05
82.64
29.17
30.37
30.62
32.03
16 28
11.85
17.17
12.00
17.52
12.86
17 78
12.84
48 12
48.72
49.96
50 34
1 48
5.40
7.11
21 48
12 64
1 45
5.70
7.12
21.59
12.85
1 50
5.86
7.00
22.79
12.81
1 75
6.03
7.66
22 59
12.30
II
II
Table 10.—New Plant Expenditures by U.S. Nonfarm Business; Annually,
[Billions of I
Line
1 Total nonfarm business
2
.
Manufacturing..
Durable goods
Nondurable goods
3
4
5
Nonmanufacturing
Mining
_..
Transportation
Public utilities
Trade and services
Communication and other.
6
7
8
9
10
___
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
1961
1962
18.96
21.01
20.70
21.73
23.42
23.06
23.85
24.65
27. 31
30.74
31.89
29.93
30.39
32.38
32.83
34.23
6.73
6.18
4.69
4.60
6.60
7.14
6.70
6.38
6.66
8 08
8 52
6 43
6.05
7.47
7 44
7.33
2.21
4 51
1.87
4 31
1.28
3 41
1.43
3 17
2.81
3 78
3.21
3 93
2.59
4 11
2 19
4 19
2.42
4 24
3 31
4 77
3 69
4 83
2.63
3 80
2.13
3.92
2.90
4.56
2 53
4 91
2.19
5.14
12.23
14.83
16 01
17 13
16.83
15 92
17.16
18 28
20 65
22 66
23 37
23 50
24.34
24 91
25 40
26.89
.38
1.08
2.68
6.06
2.03
.45
1.10
3.82
6.77
2.70
.43
.91
4 54
7.56
2.57
.45
.91
4 45
8.83
2.49
.49
1.02
4.46
8.30
2.55
.54
1.11
4 55
7.17
2.55
.55
1.09
4.88
7.86
2.78
.57
.97
4 55
9 06
3.13
.60
1.02
4 46
10 91
3.65
.70
1.10
4 53
12 29
4.05
68
1.08
5 16
12 27
4.18
.55
.68
4 95
13 33
3.98
.52
.61
4 63
14.40
4.17
.52
.75
4 40
14.75
4.49
.56
.61
4 38
15.49
4.36
.63
.74
4.27
16.67
4.57
II
III
IV
1972
Line
I
f
II
1973
III
IV
I
1975
1974
II
III
IV
I
II
III
IV
I
1 Total nonfarm business.
48.44
47.73
49.36
51.39
51.75
54.17
52.43
52 54
53 06
51 28
49 66
48.19
46.42
45.21
44.88
45.52
2
10.10
10.34
10.08
9.91
10.41
10.97
11.16
11.89
12.67
12.55
12.13
11.80
11.71
, 11. 41
11.29
11.20
3.79
6 31
3.90
6 45
4.00
6 08
3 78
6 12
4.26
6 15
4.72
6 25
4.90
6 27
5 15
6 74
5 44
7 24
5.27
7 28
4.95
7 18
4.90
6.90
4.74
6.97
4.34
7.07
4.26
7.03
4.43
6.77
38.34
37.39
39.28
41 49
41.34
43.20
41.26
40.64
40 39
38.72
37.53
36.39
34. 71
33.80
33.59
34.32
1.45
.91
8.89
19.90
7.18
1.44
1.08
8.99
19. 31
6.57
1 18
1.05
9.41
20 89
6.75
1 51
1.13
9.45
22 14
7 26
1 32
1.25
9.73
21.56
7.49
1.46
1.26
9.87
22 78
7.83
1 57
1.31
9.70
21 00
7.68
1 70
1 30
10.16
19 52
7 97
1 80
1 23
9.55
20 02
7 80
1 74
1.21
9.29
18 74
7 75
1 70
1.37
9.04
17 99
7.43
1.86
1.67
8.95
17 15
6.77
1.81
1.86
8.54
16.08
6.42
1.88
1.76
8.34
15.74
6.09
1.90
1.81
8.39
15.37
6.11
2.02
1.86
8.40
16.13
5.92
3
4
5
6
7
8
9
10
Manufacturing
Durable goods
Nondurable goods
Nonmanufacturing
Mining
Transportation
Public utilities
Trade and services. .
Communication and other.
SURVEY OF CURRENT BUSINESS
September 1981
factors for time t, Ytc a 56x1 vector of establishment-based industry current-dollar expenditures for time t, and Ytk a 56x1 vector of
establishment-based industry constant-dollar
expenditures for time t. The value of n is 28
for equipment and 18 for structures. In step
one, the establishment-based industry deflators are found by,
Technical Note
Derivation of Industry Implicit Price Deflators and Constant-Dollar Estimates
The procedure used to derive the implicit
price deflators and the constant-dollar estimates has three steps. It may be shown compactly in matrix notation. Let Ztc be a nxl
vector of purchases of equipment (or structures) by type in current dollars for time t,
Ztk be a nxl vector of purchases of equipment
(or structures) by type in constant dollars
for time t, Wt be a 56xn matrix of weighting
39
tors) element-by-element. DEt is a 56x1 vector
of establishment-based industry deflators.
Similarly, in step two, company-based industry deflators are found by,
(2) DIt=XtYt7XtYtk, t=1947:l, 1980:4
where DIt is a 38x1 vector of company-based
industry deflators for time t and Xt is a
38X56 matrix of weighting factors for time t.
The company-based industry deflators may be
found directly, without calculating the estab-
(1) D'Et=YtVYtk=WtZltVWtZt*
t=1947:l, 1980:4
where / denotes a vector operation that divides two similar-size vectors (here, 56x1 vec-
1947-80, and Quarterly, Seasonally Adjusted at Annual Rates, 1972-80
1972 dollars]
1963
1964
1965
1967
1966
1969
1968
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
Line
1
38.01
44.75
52.51
59.88
60.09
59.88
64.77
65.32
63.29
70.70
79.44
84.63
74.15
75.13
84.25
93.03
103.47
105.61
15.54
19.03
22.43
26.73
27.01
25.89
27.78
26.67
23.73
25.17
29.58
33.51
29.80
29.86
33.17
34.75
40.28
44.76
2
8.87
6.67
11.13
7.90
13.12
9.30
15.70
11.03
16.02
10.99
15.43
10.46
16.60
11.19
15.72
10.94
12.96
10.76
14.25
10.92
17. 19
12.39
18.95
14.55
15.83
13.97
15. 89
13.97
18.05
15.13
19.33
15.42
22.28
18.00
24.20
20.57
3
4
22.47
25.72
30.08
33.15
33.08
33.99
36.98
38.66
39.56
45.53
49.86
51.12
44.35
45.27
51.08
58.29
63.19
60.85
5
1.14
3.47
2.62
9.52
5.72
1.15
4.77
2.88
10.68
6.24
1.17
5.92
2.95
12.35
7.70
1.16
6.87
3.46
13.79
7.88
1.08
6.67
4.25
12.68
8.40
.99
6.80
4.15
13.13
8.92
1.10
6.76
4.83
14.23
10.06
1.03
6.35
5.55
14.65
11.07
1.40
4.85
6.69
15.76
10.87
1.48
5.67
7.07
19.30
12.02
1.60
5.86
7.28
22.48
12.64
1.93
5,70
7.53
22.67
13.28
2.23
4.67
5.82
20.49
11. 14
2.34
4.17
5.92
21.36
11.48
2.73
4.69
7.13
23.43
13.09
2.88
5.17
7.03
28.21
15.00
2.95
5.41
7.29
31. 68
15.87
2.78
4.72
6.96
30.30
16.08
6
7
8
9
10
III
IV
1976
I
1977
II
III
IV
73.16
73.59
75.43
78.36
81.39
29.08
29.18
30.04
31.14
32.16
14.73
14.35
15.35
13.83
16.22
13.83
17.26
13.88
17. 67
14.48
44.07
44.41
45.38
47.22
2.28
3.71
6.02
21.15
10.91
2.07
4.33
5.96
20.90
11.15
2.46
4.14
5.66
21.71
11.41
2.54
4.51
6.03
21.69
12.45
I
II
1978
1979
III
IV
I
82.91
87.52
85.17
86.73
93.03
93.76
32.73
34.75
33.04
32.11
35.34
34.58
17.52
15.21
18.61
16.14
18.37
14.67
17.82
14.29
19.43
15.91
19.60
14.98
49.23
50.18
52.77
52.13
54.63
57.68
2.69
4.57
6.79
23.07
12.11
2.73
4.67
7.13
22.72
12.92
3.03
4.85
7.59
23.84
13.47
2.49
4.66
7.02
24.09
13.87
2.55
5.28
6.61
25.56
14.62
2.83
4.95
6.90
28.23
14.77
III
II
IV
1980
Line
I
II
III
IV
I
98.62
99.36
102.28
104.06
108. 16
107.10
103.45
1
36.95
•37.86
39.09
40.72
43.44
44.97
44.91
44.40
44.77
2
20.47
16.48
20.94
16.92
21.70
17.39
22.78
17.95
23.71
19.73
24.37
20.60
24.27
20.65
23.51
20.88
24.63
20.14
4
59.18
61.66
61.50
63.20
63.34
64.72
62.13
61.48
61.09
58.68
5
2.89
5.04
7.24
28.58
15.44
3.25
5.41
7.36
30.46
15.18
3.18
5.22
7.24
30.51
15.35
2.97
5.29
7.36
31.96
15.62
2.85
5.49
7.30
31.55
16.14
2.80
5.63
7.24
32.68
16.36
2.68
4.94
7.25
30.32
16.94
2.78
4.77
7.07
30.52
16.35
2.72
4.79
7.17
30.57
15.83
2.92
4.40
6.36
29.80
15.20
6
7
8
9
10
1972
1973
1974
II
106.39 105.49
3
1947-80, and Quarterly, Seasonally Adjusted at Annual Rates, 1972-80
1972 dollars]
1963
1964
1966
1965
1967
1968
1969
1970
1971
1975
1976
1978
1977
1979
1980
Line
34.14
37.94
40.71
45.95
44.28
46.38
49.37
49.94
49.20
49.23
52.72
50.55
45.51
47.97
50.63
52.95
53.81
52.92
7.44
8.95
10.76
13.09
12.74
12.25
13.21
13.33
11.04
10.11
11.11
12.29
11.40
12.48
12.91
13.85
14.98
15.34
2.42
5.03
3.09
5.86
4.20
6.56
5.99
7.10
5.80
6.93
5.62
6.63
5.90
7.31
5.63
7.70
4.35
6.69
3.87
6.24
4.76
6.35
5.14
7.15
4.44
6.96
4.78
7.69
5.39
7.52
6.25
7.59
7.26
7.71
7.59
7.75
1
2
3
4
26.70
28.99
29.95
32.86
31.54
34.13
36.16
36.61
38.16
39.12
41.61
38.26
34.11
35.50
37.72
39.11
38.83
37.58
5
.56
.82
4.50
16.15
4.68
.61
.93
4.85
17.10
5.51
.63
1.00
5.61
17.32
5.38
,65
1.13
6.61
18.22
6.25
.63
1.04
7.36
16.45
6.07
.74
1.16
8.56
17.64
6.04
.92
1.24
8.78
18.29
6.94
1.17
1.15
8.77
17.76
7. ',7
1.39
1.22
8.59
19.42
7.53
1.40
1.04
9.18
1.51
1.28
9.86
21.21
7.74
1.90
1.82
8.42
15.83
6.14
2.33
1.98
8.94
16.24
6.00
2.56
1.58
9.71
17.57
6.30
2.26
1.41
10.52
18.02
6.90
2.19
1.42
10.98
17.40
6.83
2.48
1.40
10.50
16.86
6.34
6
7
8
9
10
I
I
II
III
IV
46.84
47.67
49.08
48.31
49.64
11.69
12.21
13.21
12.80
12.52
4.43
7.25
4.66
7.55
5.03
8.18
5.01
7.79
35.15
35.47
35.87
2.13
1.96
8.82
16.24
5.99
2.30
2.15
8.85
16.41
5.75
2.38
1.93
9.14
16.36
6.06
II
6.94
1978
1977
1976
20.56
1.77
1.37
9.21
18.48
7.44
I
1979
IV
I
II
III
IV
54.32
53.54
52.75
54.76
52.87
51.87
52.16
1
15.06
15.13
14.74
15.26
15.70
15.48
14.92
2
7.07
7.91
7.33
7.73
7.26
7.88
7.39
7.35
7.95
7.31
7.88
7.82
7.63
7.85
6.89
8.03
3
4
39.31
39.65
39.27
38.41
38.00
39.50
37.18
36.39
37.24
5
2.08
1.39
11.02
17.62
7.20
2.15
1.38
10.90
18.11
7.10
2.12
1.44
11.19
17.55
6.98
2.19
1.44
11.39
16.74
6.64
2.30
1.43
10.45
17.19
6.63
2.25
1.55
11.26
17.88
6.56
2.33
1.36
10.40
16.38
6.70
2.60
1.34
10.16
16.03
6.25
2.73
1.35
10.19
17.15
5.83
6
7
8
9
10
III
IV
I
52.83
52.92
52.47
53.60
54.63
13.95
13.30
13.86
14.28
14.98
5.29
7.98
6.01
7.93
6.04
7.26
6.29
7.57
6.67
7.62
38.28
37.84
38.88
39.63
38.61
2.55
1.32
9.52
18.66
6.23
2.36
1.36
9.95
17.97
6.19
2.30
1.51
10.40
18.36
6.32
2.33
1.30
10.29
18.75
6.95
2.33
1.44
10.37
17.34
7.13
IV
50.57
51.22
51.10
12.93
12.94
13.26
5.11
7.41
5.46
7.47
5.71
7.23
35.51
37.12
37.64
2.51
1.89
8.95
15.95
6.21
2.69
1.63
9.88
16.37
6.55
2.62
2.01
9.49
17.27
6.24
Line
III
II
III
1980
II
SUEVEY OF CUKEENT BUSINESS
40
lishment-based industry deflators, from the
formula,
,
(3)
t=1947:l,
1980 :4
which follows from substituting (1) into (2).
In step 3, constant-dollar estimates of P&E
expenditures are found by applying these deflators to the current-dollar P&E survey
expenditures.
Step 1. Establishment-based industry implicit
price deflators
The weights (the W t matrix in (1)) used
in the first step are derived from the capital
flow tables produced by BEA.10 These tables
disaggregate gross private fixed investment
in the BEA input-output tables to show the
amounts and types of capital goods, classified
at the 4-digit Standard Industrial Classification (SIC) level, used by each of 76 establishment-based industries. (Nine of the 85
establishment-based industries in the inputoutput table do not use capital goods.) The
dollar values in the tables reflect purchasers'
prices in current dollars.
Capital flow tables are available for three
years : 1963, 1967, and 1972. For each of these
years, two capital flow matrixes are constructed—an equipment matrix and a structures matrix. The structures matrix is a disaggregation of the new construction 1-0 commodity group in the capital flow table. The
capital goods categories for both the equipment and structures capital flow matrixes
match the level of detail for types of fixed
nonresidential investment published in NIPA
tables 5.4-5.7. The 76 establishment-based using industry categories are combined to form
the 56 establishment-based industry categories
used in the second step. The columns of these
aggregated capital flow matrixes show the distribution of types of capital goods ; the rows
show the composition of investment goods
used by various industries. The matrixes for
1963 and 1967 are adjusted to 1972 SIC
definitions.
The six matrixes (3 years, equipment and
structures for each) are normalized by columns, i.e. each element in a column is divided
by the sum for that column. The six normalized matrixes show the percentage distribution of capital goods by establishment-based
using industry.
The percentage distribution of each type of
capital good by using industry changes over
time. To make estimates of the distribution
for each quarter between 1963 and 1967, and
between 1967 and 1972, linear interpolation
is used. To interpolate between 1963 and 1967,
the normalized matrix for 1963 is subtracted
from the normalized matrix for 1967. and the
resulting "difference matrix'* is divided by 13
(the number of quarters between the fourth
10. The table for 1972 is described in the July
1980 SURVEY.
quarter of 1963 and the first quarter of 1967).
This "increment matrix'' is added to the
normalized matrix for 1963 to derive the
normalized matrix for 1964:1, the increment
matrix is added to the normalized matrix for
1964:1 to derive the normalized matrix for
1964:2, etc. The procedure for interpolating
between 1967 and 1972 is similar. The normalized matrix for 1963 is used for all quarters
before and including 1963:4, and the normalized matrix for 1972 is used for all quarters
from 1972:1 forward.
A capital flow matrix for each quarter is
derived by multiplying the quarterly adjusted
NIPA estimates for individual types of producers' durable equipment (or structures),
first in current dollars and then in constant
dollars, down the appropriate columns in the
appropriate normalized matrix.11 The rows of
each matrix are summed; these sums are the
current- and constant-dollar estimates of
establishment-based industry purchases of
equipment or structures (the Y # c and Y^ vectors in (1) above).
Implicit price deflators for the 56 establishment-based industries are derived by dividing the current-dollar expenditures by the
constant-dollar expenditures for each quarter
(separately for structures and for equipment). Deflators for total industry investment (equipment plus structures) on an
establishment basis are also derived.
Step 2. Company-based
price deflators
industry implicit
Step two converts the establishment-based
industry expenditures derived in step one to
company-based industry expenditures. The
basic methodology is the same as for step one,
although the construction of the appropriate
weighting matrixes is considerably more
complex.
The basic data for constructing the capital
expenditures matrix (X t in ( 2 ) ) are compiled
from data on expenditures cross-classified by
establishments and by companies. These data,
prepared by the Bureau of the Census, are
available only for 1963, 1967, and 1972.
For 1972, the Census Bureau provided a
special capital expenditures tabulation that
shows purchases of equipment and of structures for company-based industries crossclassified by the establishments that are
owned by companies within each companybased category. For 1963 and 1967, however,
similar matrixes are not directly available.
Instead, capital expenditures matrixes are derived from the employment matrixes published by the Bureau of the Census in its
11. Estimates of purchases of structures by
type are available annually from 1946 forward
but quarterly only from 1958:1. Quarterly estimates for the earlier period were derived by interpolation. Annual estimates were used as control totals, and the quarterly pattern of total purchases of structures (which is available back to
1946) was used to derive estimates of quarterly
purchases of structures.
September 1981
Enterprise Statistics for 1963 and 1967 (Table
6 in Enterprise Statistics, Vol. 2, for 1963 and
Table 2-2 in Enterprise Statistics for 1967).
Each employment matrix shows the number
of employees for company-based industries
cross-classified by establishment-based industry.
Both employment matrixes and also the
1972 capital expenditures matrix are complete
for manufacturing. However, all three are incomplete for nonmanufacturing, because the
Census Bureau data are incomplete for transportation, communications, agriculture, finance-insurance-real
estate, and public
utilities.13
A major problem with the two employment
matrixes is that many of the published cells
contain letters, reflecting ranges of values,
rather than actual numbers. This procedure
is followed by the Census Bureau 'to prevent
disclosure of confidential information. To
deal with this problem, a numeric value for
each cell of the matrix that contained a letter
is estimated. Each estimate is constrained to
be within (or on) the boundary of the range
of values associated with each letter, and the
matrix is forced to balance, i.e., the row and
column totals equal those in the original published employment matrix.
To convert each employment matrix to a
capital expenditures matrix, each column (an
establishment-based industry) of the employment matrix is multiplied by an appropriate
capital expenditures per employee ratio, also
published in Enterprise Statistics.™
The capital expenditures matrixes for each
of the three years (1963, 1967, 1972) are aggregated to 38 company-based industries (to
match the categories in the P&E survey) and
56 establishment-based industries (to match
the 56 establishment-based industry categories
in step one). Equipment matrixes and structures matrixes are then derived for 1963 and
for 1967 by applying to each column of the
appropriate capital expenditures matrix the
appropriate ratio of either equipment or
structures capital expenditures to total
capital expenditures for each establishmentbased industry.14 Matrixes for 1963 and 1967
are adjusted to 1972 SIC definitions.
12. Estimates for these industries were made
based on the investment data from the capital
flow tables (for 1972) and data on the number of
full- and part-time employees from the NIPA's.
13. The Census Bureau establishment-based
data used to construct the capital expenditures
per employee ratio differentiates between establishments classified in the same company-based
category and all other establishments. Therefore,
each column is actually multiplied by two ratios:
the "diagonal" cell is multiplied by the capital
expenditures per employee of establishments
classified in the same company-based category, and
the rest of the cells in the column are multiplied
by the ratio for "all other establishments." This
assumes that the capital expenditures per employee are equal for establishments owned by
companies in different industries except those
companies whose industry category is the same as
that for the establishment.
14. These capital expenditures data are also
published in Enterprise Statistics.
September 1981
The equipment and structures matrixes are
normalized by establishment-based industry.
The normalized matrixes for 1963, 1967, and
1972 are linearly interpolated using the same
procedure as in step one. The normalized
matrix for 1963 is used tor all quarters prior
to 1964, and the normalized matrix for 1972
is used for all quarters in 1972 and later
years.
The columns of the normalized equipment
and structures matrixes are multiplied by the
current- and constant-dollar establishmentbased industry expenditures derived in step
one above, and the rows summed to yield
current- and constant-dollar capital expenditures for each company-based industry. Current-dollar company-based capital expenditures are then divided by constant-dollar
(continued from p. 25)
tion plan increases this year. The largest planned increase is in mining, 22
percent; mining reported the largest
spending increase in nonmanuf acturing
last year, !Sy2 percent. "Communication and other" plans a 13%-percent increase; gas utilities, 10 percent; "other
transportation," 7y2 percent; and trade
and services, G1/^ percent. Railroads and
electric utilities plan smaller increases.
Air transportation plans a lO1/^ -percent
decline in spending this year.
SUKVEY OF CURRENT BUSINESS
41
Breakdowns of total expenditures into those
for plant and for equipment have been collected in the P&E survey on an annual basis
since 1947 and on a quarterly basis since 1972.
Separate quarterly expenditure series for
equipment and for plant are calculated for all
quarters prior to 1972 by interpolation. Annual estimates for equipment and for plant
reported in the P&E survey are used as control totals for each industry; company-based
industry expenditures derived in step two are
used as interpolators. The company-based industry deflators from step 2 are constrained
to insure that the weighted sum of the deflators for the P&E survey industries is equal
to the deflator for total purchases of equipment and structures obtained from the sum
of the adjusted NIPA estimates. Constantdollar expenditures for 38 P&E survey industries are then calculated by dividing the
current-dollar P&E survey expenditure estimates (for equipment and for plant separately) by the implicit price deflators for
company-based industries. Constant-dollar industry estimates of total P&E expenditures
are calculated by adding the separate estimates for constant-dollar equipment and plant
expenditures.
Spending in nonmanufacturing industries increased 2 percent in the second quarter, to a seasonally adjusted
annual rate of $191.2 billion, following
a Sy2-percent increase in the first quarter. Large increases in the second quarter in "other transportation," electric
utilities, trade, and finance were partly
offset by sizable declines in air transportation and real estate. A li/^-percent
increase is planned in the third quarter;
increases in the finance-insurance-real
estate group and "communications and
other" are largely offset by declines in
gas utilities and transportation industries. A 51/£-per cent increase is planned
in the fourth quarter; the largest increases are in transportation and gas
utilities.
Electric and gas utilities started new
investment projects totaling $13.8 billion in the second quarter, compared
with $10.1 billion in the first quarter.
Carryover of utility projects was $135.6
billion at the end of June, up $4.3 billion from the end of March.
company-based capital expenditures to yield
implicit price deflators for equipment and for
structures.
Step 3: Constant-dollar P&E survey estimates
By RUSSELL C. KRUEGER
U.S. International Transactions,
Second Quarter 1981
J_ HE U.S. current-account surplus
decreased to $1.1 billion in the second
quarter from $3.3 billion in the first.
An increase in the merchandise trade
deficit, due to a decrease in agricultural
exports and an increase in nonpetroleum imports, accounted for the decline.
Among the service accounts, lower receipts of income on U.S. direct investment abroad and higher interest payments on other foreign investment in
the United States more than offset higher receipts on other U.S investment
abroad (chart 9).
In the capital accounts, there was a
$9.2 billion reduction, to $4.6 billion, in
net outflows resulting from bankreported transactions. Strong worldCHART 9
U.S. Investment Income
Billion $
15
Other Investment Receipts2
Direct Investment Receipts1
;
/
^
/
10-
Other investment Payments2
Direct Investment Payments1
1979
1980
1981
1. Includes interest, dividends, and earnings of unincorporated affiliates
2. Includes receipts and payments on other private and U.S. Government
assets and liabilities.
U.S. Department of Commerce, Bureau of Economic Analysis
8
42
wide demand for U.S. bank credit, partly related to commercial needs associated with the dollar's recent appreciation, contributed to the large increase in
U.S. bank claims and to borrowing by
U.S. banks from their offices in the
Caribbean. Simultaneously, high and
rising interest rates in the United
States, and an appreciating dollar, attracted foreign funds to U.S. bank
deposits and other financial instruments.
Reflecting the first full quarter of
U.S. policy of refraining from exchange
market intervention, there was a much
smaller increase in U.S. official reserve
assets than in the first quarter. However, there were large reductions of foreign official assets in the United States
by industrial countries, as they intervened to limit the decline of their currencies against the dollar.
The statistical discrepancy (errors
and omissions) was an inflow of $7.6
billion.
U.S. dollar in exchange markets
The U.S. dollar appreciated strongly
against all major currencies except the
Canadian dollar, rising 11 percent and
9 percent on a trade-weighted basis
against the currencies of 10 industrial
and 22 OECD countries, respectively
(table C, chart 10). The dollar reached
a record level against the French franc;
it also rose sharply against other currencies in the European Monetary System (EMS), and against the British
pound and Japanese yen.
High U.S. interest rates and a restrictive monetary policy were primarily responsible for the third consecutive
quarter of substantial dollar appreciation. U.S. interest rates rose in April
and May when domestic credit demand
increased, bank reserve growth was lim-
ited, and the discount rate and penalty
rate charged to large, frequent users of
the discount window were increased.
Interest rates in the United Kingdom,
Western Europe, and Japan were lower
than U.S. rates and changed little over
the quarter. However, rates in Switzerland increased sharply from low levels,
and rates in Canada remained above
U.S. rates.
Other factors that contributed to the
dollar's strength were a relatively favorable current-account position, some
slowing of U.S. inflation, and record
foreign demand for U.S. equities and
other financial assets. Prospects for immediate economic recovery in other industrial countries deteriorated over the
quarter, and although there was some
reduction in inflation abroad, further
progress was expected to be delayed by
the unfavorable effects of dollar appreciation on import prices. Political and
military unrest in Eastern Europe and
the Middle East, together with the election of a Socialist government in
France, favored inflows into dollardenominated assets.
From the end of March to the end of
June, the dollar appreciated 16 percent
against the British pound; 15 percent
against the French franc; 14 percent
each against the German mark, Dutch
guilder, and Italian lira; 7 percent
against the Japanese yen; 6 percent
against the Swiss franc; and 1 percent
against the Canadian dollar. The dollar
appreciated 3 percent against the Mexican peso, which is being devalued by
Mexican authorities at a controlled rate.
Merchandise trade
The merchandise trade deficit increased to $6.9 billion in the second
quarter from $4.7 billion in the first. The
increase was due to a sharp drop in
September 1981
agricultural exports from an exceptionally high first-quarter level and an
increase in nonpetroleum imports.
Exports decreased $0.6 billion, or 1
percent, to $60.5 billion; volume decreased 2 percent. Agricultural exports
decreased $1.7 billion from a record
level to $11.1 billion; volume decreased
12 percent and prices decreased 3 percent. There were declines of $0.5 billion
each in wheat and feed grains, and $0.4
billion in soybeans, mainly to Eastern
Europe. Cotton exports declined $0.3
billion.
Nonagricultural exports increased
$1.0 billion, or 2 percent, to $49.4 billion; volume was unchanged. Capital
goods increased $1.1 billion, led by a
$0.7 billion increase in complete aircraft. Automotive exports increased
$0.6 billion, reflecting parts shipments
to Canada for assembly prior to the introduction of new subcompact models
in the United States. Industrial supplies and materials decreased $1.1 billion. The decrease was concentrated in
fuels, due both to lower shipments of
coal during the strike which lasted from
March 27 to June 3, and to lower petroleum and nuclear fuel exports.
Imports increased $1.6 billion, or 2
percent, to $67.4 billion; volume increased 3 percent. Nonpetroleum imports increased $1.2 billion, or 3 percent,
to $46.2 billion; volume increased 4 percent, and prices declined 2 percent,
partly due to the dollar's appreciation.
Automotive imports increased $0.9 billion, primarily related to the assembly
of components in Canada for new subcompact models scheduled for introduction in the United States. Nonpetroleum industrial supplies and materials
increased $0.6 Billion, due to larger iron
and steel imports. There was a small increase in capital goods. Foods, feeds,
and beverages decreased $0.5 billion,
almost all in coffee and sugar.
Petroleum imports increased $0.4 billion, or 2 percent, to $21.2 billion;
volume declined 1 percent to 6.5 million
barrels per day, and prices increased 3
percent to $35.62 per barrel. The decline
in volume occurred despite an increase
in imports for the Strategic Petroleum
Reserve to 312,000 barrels per day, or
5 percent of total petroleum imports.
43
10
SURVEY OF CURRENT BUSINESS
Indexes of Foreign Currency Price of the U.S. Dollar(May 1970=100)
1978
1979
1980
1981
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Japan, the Netherlands, New Zealand,
Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury.
2 Belgium Canada France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: federal Reserve Board. The index has been
revised as a result of a change in the method of computation; for details see the August 1978 Federal Reserve Bulletin. The new FRB index was rebased by BEA.
3. Data: International Monetary Fund. NOTE.-Data are for end of month.
U.S. Department of Commerce, Bureau of Economic Analysis.
*w-n
SUEVEY OF CTJKKENT BUSINESS
44
September 1981
Table A.—-Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line
Lines in tables 1, 2, and 10 in which transactions are included are
indicated in ( )
_
_..
4
5
g
Imports of goods and services (17)
Merchandise excluding military (18)
Other goods and services (19^31)
7
U.S. Government grants (excluding military grants of goods and
services) (34)
Remittances pensions and other transfers (35, 36)
g
g
10
11
Change:
1981
1980
I
1 Exports of goods and services (1)
2
Merchandise, excluding military (2)
3
Other goods and services (3-15)
IS81
1980
1979
II
III
IV
I'
HP
I-II
288,925
184, 473
104, 452
344,667
223,966
120, 701
85,764
54, 898
30, 866
83, 617
55, 667
27, 950
86,655
56, 252
30, 403
88,636
57, 149
31, 487
94, 431
61,098
33,333
94, 845
60,477
34,368
41
-6^
1,0;
-281, 917
-211,819
-70, 098
-333,888
—249, 308
-84,580
-85, 981
-65,024
-20, 957
-82, 830
-62, 411
-20, 419
-80,177
-59, 154
—21, 023
-84, 902
-62, 719
-22, 183
-89,641
-65, 775
-23, 866
-92,242
-67, 391
—24,851
-2,6(
-1,61
-98
-3,536
-2, 058
-4,659
-2,397
-1,336
-542
-787
-545
-912
-591
-1,624
-720
-^977
-550
-994
-536
-1
]
U S assets abroad, net (increase/capital outflow (-) ) (37)
U S offici al reserve assets net (38)
U.S. Government assets, other than official reserve assets, net
(43)
U S private assets net (47)
-62,639
-1,133
-84, 776
-8, 155
-12,639
-3,268
-24, 837
502
-19,302
-1,109
-27, 995
-4,279
-22,397
-4, 529
-21,521
-905
87
3,62
-3,767
-57, 739
-5,165
-71, 456
-1,456
-7,915
-1, 187
-24, 152
-1,427
-16,766
-1,094
-22, 622
-1,395
-16, 473
-1,475
-19,141
-5
-2,66
14
15
Foreign assets in the United States, net (increase/capital inflow
(+) ) (56)
..
..
Foreign official assets net (57)
_
Other foreign assets, net (64)
--
38,946
-13,757
52, 703
50,261
15, 492
34, 769
7,509
-7,462
14, 971
7, 232
7,557
-326
11, 651
7,686
3, 965
23,870
7,711
16, 158
7,140
5,503
1,637
12,810
-3,009
15,819
5,67
-8,51
16
17
Allocations of special drawing rights (74)
Statistical discrepancy (75)
1,139
21, 140
1, 152
29,640
1,152
6,073
2,736
1,093
10,901
12
13
2,676
18, 151
7,637
14,18
-1,0£
-3,26
Revised.
Preliminary.
Slow domestic economic activity led to
a drop in consumption; stocks were unchanged at high levels. Imports from
Canada, Venezuela, Saudi Arabia, and
Indonesia declined; only imports from
the United Kingdom and Mexico increased significantly.
The dollar's appreciation over the
last three quarters has contributed to a
broad slowdown in price increases for
iionpetroleum imports. Unit value indexes for major end-use categories,
except consumer goods, indicate a slowing of price increases in the first quar-
ter, and a decline in the second,
especially in foods, capital goods, and
consumer goods. In contrast, prices of
nonagricultural exports continued to increase at about the same rate as in the
first quarter.
By area, the merchandise trade surplus with industrial countries continued
to decrease for the fourth consecutive
quarter; strong exports to Canada and
to Australia, New Zealand and South
Africa were more than offset by reduced
exports to, and increased imports from,
other industrial countries. The deficit
with OPEC countries decreased slightly
due to lower petroleum imports. Sharp
decreases in agricultural exports to
Eastern Europe and Latin America,
and in total exports to developing countries in Asia and Africa, more than accounted for a large decline in the surplus with non-OPEC developing
countries.
Service transactions
Net service receipts were unchanged
at $9.5 billion. Service exports, at $34.4
billion, and imports, at $24.9 billion,
Table B.—Selected Transactions with Official Agencies
[Millions of dollars]
1979
Line
1980
1980
I
1 Changes in foreign official assets in the U.S., net (decrease — ) (line
57, table 1) ...
Industrial countries l
Members of OPEC 2
Other countries
2
3
4
5
Changes in U.S. official reserve assets (increase — ) (line 38,
table 1)
.—
II
1981
III
IV
II*
I'
Change:
1981
I-II
-13,757
—21, 151
5,543
1,851
15, 492
1 013
12, 744
1,735
-7, 462
—10 942
2,988
7,557
2 913
4, 614
7 711
6 472
1*024
5 503
27
7 686
2 570
4 115
1 001
215
5 446
—552
—3 009
6 786
2 635
1 142
8 512
7 395
2 gii
1 694
-1, 133
-8, 155
—3,268
502
—1 109
—4 279
—4 529
—905
3 624
-3, 321
5,121
-8,442
-3, 184
1,773
-4,957
-3, 173
964
-3, 512
1,096
-132
-604
338
—942
—371
70
-70
242
—242
95
192
—97
—200
—145
—400
—200
200
492
609
Activity under U.S. offical reciprocal
currency arrangements with
foreign monetary authorities: 3
6
6a
6b
U.S. drawings, or repayments (— ), net.
Drawings "
Repayments
7
7a
7b
Foreign drawings, or repayments (—), net..
Drawings
_
Repayments
.
. .. _
339
-95
50
* Preliminary. * Revised.
1. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
2. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
3. Consists of transactions of the Federal Reserve System and the U.S. Treasury Department's Exchange Stabilization Fund.
-371
200
200
—200
SURVEY OF CURRENT BUSINESS
September 1981
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[May 1970=100]
End of period
1979
Trade-weighted average
against 22
OECD currenciesi
Trade-weighted
average
against 10
currencies 2
Selected currencies: 3
Canada
France
Germany
Italy
Japan
Netherlands
Switzerland..
United Kingdom
_
I
II
80.3
73.0
108.1
77.8
51.4
133.5
58.3
55.4
39.1
116.1
1981
1980
III
IV
I
II
III
IV
I
II
80.9
79.8
81.6
89.3
81.0
82.0
85.0
89.6
98.0
72.4
70.5
70.7
77.2
70.2
70.9
74.5
79.8
88.8
108.7
77.6
50.7
132.4
60.5
55.9
38.4
110.8
108.1
74.3
48.0
127.5
62.2
53.2
35.5
109.3
108.8
72.8
47.7
127.8
66.8
52.5
36.6
108.0
110.9
81.1
53.4
142.8
69.6
58.6
42.4
110.9
107.2
74.0
48.4
133.4
60.6
53.1
37.5
101.7
109.0
76.1
49.9
137. 1
59.1
54.1
38.1
100.6
111.2
81.8
53.9
147.9
56.6
58.6
40.7
100.7
110. 5
89.8
57.9
166.6
58.8
64.1
44.2
107.0
111.8
103.6
65.8
189.4
62.9
73.3
47.0
123.6
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy
Japan, the Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, United Kingdom. DataU.S. Department of the Treasury.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data:
Federal Reserve Board, rebased by BE A.
3. Data: International Monetary Fund.
each rose $1.0 billion. Within net service receipts, lower receipts on U.S. direct investment abroad and higher interest payments on other foreign investment in the United States more than
offset higher receipts on other U.S. investment abroad.
Income on U.S. direct investment
abroad decreased $0.2 billion to $7.9 billion. Soft petroleum markets and a decline in spot prices sharply lowered
earnings of petroleum affiliates. Sluggish economic activity resulted in approximately unchanged incomes of
manufacturing and other affiliates, with
the exception of U.S. affiliates in Canada, whose incomes were boosted by
higher automotive exports to the United
States. Incomes of many foreign affiliates were adversely affected by dollar
appreciation, which raised the cost of
purchases denominated in dollars and
reduced the value of sales denominated
in foreign currencies. Partly offsetting
were exchange rate translation gains,
especially of Western European petroleum affiliates, that occurred as the
values of affiliates' foreign currencydenominated debt declined. Payments
of income on foreign direct investment
in the United States increased $0.2 billion to $2.0 billion, due to an increase in
earnings of manufacturing affiliates.
Other private investment income increased $0.8 billion to $13.5 billion, the
third consecutive record quarter, due to
continued high interest rates and in-
creased U.S. bank lending to foreigners.
High interest rates also pushed private
payments up $0.6 billion to a record $7.4
billion. U.S. Government receipts increased slightly to $0.9 billion, due to
higher interest rates; there was little
change in U.S. official foreign currency
holdings. U.S. Government payments
rose $0.3 billion to $4.2 billion, due to
increases in interest rates and in
liabilities.
Among other service transactions,
travel receipts were up $0.1 billion to
$2.8 billion. Travel receipts from
Mexico and Canada both increased.
Travel payments decreased $0.5 billion
to $2.7 billion. Payments to Mexico fell
by one-quarter as the number of U.S.
visitors declined, possibly due to rapid
inflation there; payments to Canada declined somewhat from an unusually
high first-quarter level, which had been
boosted by purchases of lower priced
Canadian gasoline. Travel payments to
the Caribbean and Central America
were also down somewhat.
Passenger fare receipts increased $0.1
billion to $0.8 billion, due to both increased volume and fares. Payments decreased slightly to $1.1 billion, despite
fare increases; lower payments for
travel to the Caribbean and Central
America accounted for much of the decrease. Other transportation receipts
were unchanged at $3.0 billion. Payments increased $0.3 billion to $3.0 billion due to sharply higher tramp ton-
45
nage, largely because of increased iron
and steel imports, and to higher airline
expenses overseas.
Transfers under U.S. military sales
contracts increased $0.2 billion to $2.3
billion, reflecting increased aircraft deliveries to NATO members and other
countries. Direct defense expenditures
increased $0.2 billion to $2.9 billion
because of a semiannual payment to
NATO.
Unilateral transfers, excluding military grants, were unchanged at $1.5
billion.
U.S. assets abroad
U.S. official reserve assets increased
$0.9 billion in the second quarter, compared with a $4.5 billion increase in the
first. Most of the increase was in the
U.S. reserve position in the International Monetary Fund (IMF), reflecting continued heavy use of the dollar in
IMF lending.
Claims on foreigners reported by
U.S. banks rose strongly for the fifth
consecutive quarter, increasing $14.1
billion, compared with $11.2 billion.
The international demand for dollar
credits was widespread; an exception
was France, on which claims were
sharply reduced due to concern about
possible nationalization of banks following the election of a Socialist government.
There was a large increase in lending
to unaffiliated foreign banks and foreign public borrowers, despite weak
economic activity in many major countries. The increase was attributable
partly to a greater need for dollars in
commercial transactions and a desire to
strengthen foreign bank portfolios,
both due to the dollar's recent appreciation. In contrast to accelerated lending
to unaffiliated foreigners, lending to affiliated foreign banks, including offshdre offices in the Caribbean, slowed by
half. U.S.-owned banks slowed lending
to their foreign offices because of tight
domestic credit conditions, but foreignowned banks in the United States continued to supply funds to their offices
abroad. Bank-reported custody claims
increased less than in the first quarter;
(teoet continued on p. 64)
SUEVEY OF CURRENT BUSINESS
46
September 1981
Table 1.—U.S. International Transactions
[Millions of dollars]
198 1
1980
(Credits+: debits -)i
Line
12
13
14
15
Exports of goods and services 2
Merchandise adjusted excluding military 3
Transfers under U S. military agency sales contracts
Travel
.
_. .
Passenger fares
Other transportation
-_ .
Fees and royalties from affiliated foreigners
...
Fees and royalties from unaffiliated foreigners.
Other private services
U.S Government miscellaneous services
Receipts of income on U . S . assets abroad :
Direct investment
Interest dividends, and earnings of unincorporated affiliates
Reinvested earnings of incoporated affiliates
Other private receipts
U S Government receipts
-
16
Tranfers of goods and services under U.S. military grant programs, net
17
18
19
20
21
22
93
24
25
26
27
28
29
30
31
Imports of goods and services
Merchandise adjusted excluding military 3
Direct defense expenditures
-Travel
—
Passenger fares
- Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S Government payments for miscellaneous services..
Payments of income on foreign assets in the United States:
Direct investment
- Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments
32
33
34
35
36
U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net..
U S Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
._
Private remittances and other transfers
37
38
30
40
41
42
U. S. assets abroad, net (increase/capital outflow (—))
U S official reserve assets net *
Gold
Special drawing rights
-- -- Reserve position in the International Monetary Fund
Foreign currencies
I
2
3
4
5
6
7
g
g
10
]_]_
43
44
45
46
47
48
49
50
51
52
53
54
55
1980
I
II
II
IV
344, 667
223 966
8 231
10, 090
2,582
11,430
5,695
1,170
5 207
362
85 384
54 462
1 738
2 184
503
2,735
1 265
280
1 217
84
85
57
2
2
410
144
085
595
633
2,981
1 339
289
1 288
77
83,662
53 738
2 272
2,977
884
2, 895
1,413
297
1 333
125
90
58
2
2
93,527
60 286
2 131
2,460
582
2,947
1,371
312
1, 419
82
96,503
61 846
2,279
2,946
782
3,083
1,431
317
1,417
99
36 842
19, 845
16, 998
36, 522
2,572
11 714
5,787
5,927
8 700
502
7 306
3 418
3,888
9 142
533
8 700
4,916
3,783
8,352
677
9,123
5,723
3,399
10, 329
861
8, 473
4,449
4,024
12, 641
824
8,113
4,815
3,298
13,456
635
144
155
125
211
192
207
-333,888
—249 308
—10,746
— 10,397
-3,607
—10,896
—515
—254
—3, 222
—1,769
-85, 093
—64 993
—2, 656
—2, 026
-740
—2 714
—138
—62
—782
—406
-83, 176
—62 482
—2, 512
-2, 680
-1, 099
—2, 776
-154
—63
—807
-426
-81,042
—59, 048
-2, 727
-3, 526
-1, 042
-2, 683
-95
—64
-830
-492
-84,577
-62, 785
-2, 851
-2, 165
-726
-2, 723
-128
-66
-803
-446
-88,468
-65, 583
-2, 699
-2, 369
-1,014
-2, 698
-191
-67
-905
-451
-92,607
-67. 493
-2,865
-2,936
-1,365
-2,989
-108
-69
-912
-498
—9, 336
-3, 147
—6 190
— 21,326
—12 512
—1 912
—628
— 1 284
—5 613
—3 053
—2, 105
-1, 047
—1,058
—5, 135
—2 937
-3, 254
-777
-2, 476
-4, 290
—2,992
-2, 066
-695
-1,371
-6, 288
-3, 530
-1,825
-796
-1,029
-6, 719
-3, 949
-1, 966
-804
-1, 163
-7, 166
-4,241
-635
-7,056
—4, 659
-1,303
— 1 094
—144
—1,866
—1 336
—311
—219
-155
-1,329
-787
-314
—228
-125
-1,471
-912
-339
-220
-211
-2,391
-1, 624
-339
-428
-192
-1,513
-977
-336
-201
-207
-1,526
-994
-314
-218
-84, 776
—8 155
-13,365
—3 268
-24,933
502
-18,767
— 1,109
-27,711
-4, 279
-23,021
-4, 529
-12,595
-905
-16
—1 667
—6, 472
— 1,152
—34
—2, 082
112
—99
489
-261
-294
-554
1,285
-1,240
-4, 324
-1,441
-707
-2, 381
-780
-102
—5 165
—9, 812
4,367
280
—1 526
—2 614
917
171
— 1, 136
-2,365
1,166
63
-1,448
-2, 543
1, 108
-12
-1,056
-2, 290
1,177
58
-1,465
-2, 596
953
178
-1,425
-2, 279
1,022
-168
—71, 456
—18, 546
—1,548
—16, 998
—3 310
—8 571
—5, 519
408
—5,927
—766
-24, 299
-2, 856
1,032
-3,888
—1 369
-16, 210
-3, 295
489
-3, 783
-818
-22, 376
-6,876
-3, 477
-3, 399
-356
-17,027
-2, 106
1,918
-4, 024
-488
-19,266
-3, 752
-453
-3, 298
-1,451
~
__
__
._
-
..
.
--
-
__ _
-
-
-- - -
U.S Government assets other than official reserve assets, net
U.S. loans and other long-term
assets
Repayments on U.S. loans 5
-.
U S foreign currency holdings and U S. short-term assets, net
U.S private assets net
Direct investment
-- -Equity and intercompany accounts
Reinvested earnings o f incorporated affiliates
_
_ _ _ _ _
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
__
Short-term
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
_
__
Short-term
56
Foreign assets in the United States, net (increase/capital inflow (+))
57
58
59
60
61
62
63
Foreign official assets i n t h e United States, n e t
_
U S Government securities8
U.S. Treasury
securities
Other 7
Other U S Government liabilities8
U S liabilities reported by U S banks, not included elsewhere
Other foreign official assets "
- -
} 12—2, 653
12
j 13— 46, 947
13
11,651
23,870
7,140
12,810
7, 557
4, 610
4,360
250
420
1,676
851
7,686
4,318
3,769
549
80
1,823
1,465
7,711
7,498
6,911
587
205
-460
469
5,503
7,696
7,242
454
-112
-2, 910
829
-3, 009
-1,533
-2,069
34, 769
10 854
4, 664
6,190
14
2 679
5,384
14, 971
2 221
937
1,284
14
3 300
2 435
-326
3,884
2,825
1,058
—1, 260
468
3,965
2, 690
213
2, 476
-254
241
16, 158
2,060
688
1,371
893
2,240
1,637
2,487
1,458
1,029
1,405
2, 454
15, 819
2,877
1,715
1,163
12
12
76
77
78
79
_
-25, 342
10, 779
8,382
3,723
80
81
Transactions in U.S. official reserve assets and in foreign official assets in the United States
Increase (-) in U.S. official reserve assets, net (line 38)
_
_
Increase (+) in foreign official assets in the United States (line 57 less line 61)
-8, 155
14, 856
See footnotes on page 56.
_
_
5, 109
12
10, 743
1 152
29, 640
6,599
1 152
6 279
—4, 509
16 796
5,967
-10,531
291
-239
-1,575
-5, 338
2,234
1,692
905
-3, 268
—7, 394
502
7,137
416
1, 092
}
__
is ^4 Qg3
— 12, 440
7,232
12
|
13
•
343
7,509
Memoranda:
Balance on merchandise trade (lines 2 and 18) J1
_
_
._
Balance on goods and services (lines 1 and 17)
Balance on goods, services, and remittances n(lines 77, 35, and 36)___
Balance on current account (lines 77 and 33)
|
— 20, 165
-23
—7,462
—4 556
—5,357
801
—68
—3, 198
360
72
73
74
75
70
71
13
733
15, 492
11 870
9,683
2,187
636
—159
3 145
_ _ _ _ _ _
_
— 1,203
12
92
212
622
136
334
562
2,820
1,678
304
1 369
75
HP
50, 261
_ .
Other foreign assets in the United States, net _
_ __ _
_
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
_
__
_
U S Treasury securities
U S securities other than U S Treasury securities
_
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
U.S. liablities
reported by U.S. banks, not included elsewhere:
Long-term1010
Short-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
64
65
66
67
68
69
12
— 1,083
I'
19
373
536
180
-2, 286
630
701
3,450
con
8 791
916
597
1,093
11,241
6,416
-5, 310
2,619
2,061
1,149
-4, 163
5,635
4,868
3,244
-5, 297
5,059
4,523
3,546
-5, 647
3,895
3,363
2,369
-1, 109
7, 606
-4,279
7, 507
-4, 529
5,615
-905
-3, 189
September 1981
SURVEY OF CURRENT BUSINESS
47
Table 2.—U.S. International Transactions—Seasonally Adjusted
[Millions of dollars]
1980
(Credits +; debits-) »
Line
I
1
2
3
4
5
6
7
8
9
10
12
13
14
15
Exports o f goods a n d services 2
Merchandise adjusted excluding military 3
Transfers under U B military agency sales contracts ..
Travel
Passenger fares
. ._
Other transportation
Fees and royalties from affiliated foreigners.
---Fees and royalties from unaffiliated foreigners
Other private services
US Government miscellaneous services
Receipts of income on U.S. assets abroad:
Direct investment
..
Interest, dividends, and earnings of unincorporated affiliat es
Reinvested earnings of incorporated affiliates
Other private receipts
U.S. Government receipts
_
--
.
27
28
29
30
31
32
33
34
35
36
U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net
U S Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
_
_
U.S. assets abroad, net (increase/capital
outflow ( — ))
U.S. official reserve assets, net 4
.._
Gold....
Special drawing rights
Reserve position in the International Monetary Fund.
Foreign currencies
43
44
45
46
U.S. Government assets, other than official reserve assets, net
U S loans and other long-term
assets
Repayments on U . S loans 5
U S. foreign currency holdings and U.S. short-term assets, net.
47
48
49
50
51
U S private assets, net
Direct investment
_.
.
Equity and intercompany accounts
_
Reinvested earnings of incorporated affiliates . .
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
..
Short-term
._
U.S. claims reported by U.S. banks, not included elsewhere:
Long-term
..
Short-term
__
56
-
._.
Imoorts of goods and services
Merchandise adjusted excluding military 3
Direct defense expenditures
Travel
Passenger fares
_
Other transportation
Fees and royalties to affiliated foreigners Fees and royalties to unaffiliated foreigners
Private payments for other services
U.S. Government payments for miscellaneous services Payments of income on foreign assets in the United States:
Direct investment
Interest, dividends, and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private payments
U.S. Government payments..
57
58
59
60
61
62
63
_
_
16
54
55
_
_-
17
18
19
20
21
22
23
24
25
26
52
53
_
__
Transfers of goods and services under U.S. military grant programs, net
37
38
39
40
41
42
_
...
Other foreign assets in the United States, net
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
U S. Treasury securities
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
70
Long-term
71
Short-term
U.S. liabilities
reported by U.S. banks, not included elsewhere:
72
Long-term100
.
73
Short-term^
74 Allocations of special drawirg rights
75 Statistical discrepancy (sum of above items with sign reversed)
75a
Of which seasonal adjustment discrepancy
.
Memoranda:
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 and 17) ii'
Balance on goods services and remittances (lines 77 35 and 36)
Balance on current account (lines 77 and 33) n
80
81
Transactions in U.S. official reserve assets and in foreign official assets in the United States:
Increase (— ) in U.S. official reserve assets, net (line 38)..
_.
Increase (+) in foreign official assets in the United States (line 57 less line 61)
83,617
86,655
88,636
94,431
94,845
55,667
2, 085
2,433
650
2,884
1,382
289
1,288
79
56,252
2,272
2,601
683
2,799
1,468
297
1,333
100
57,149
2,136
2,722
640
2, 949
1,514
304
1,369
89
61,098
2,131
2,658
700
3,017
1,439
312
1,419
91
60,477
2,279
2,766
796
2,984
1,475
317
1,417
99
11, 243
5,972
5,271
8,700
522
7, 089
3,347
3,742
9,142
629
9,792
5,452
4,340
8,352
706
8,719
5,074
3,645
10,329
716
8, 085
4,615
3,470
12, 641
840
7,923
4,749
3,174
13,456
856
144
155
125
211
192
207
-85/81
-65,024
-2, 656
-2, 679
-842
-2, 752
-138
-62
-782
-417
-82,830
-62,411
-2, 512
-2,437
896
-2, 786
-154
-63
-807
-422
-80,177
-59, 154
-2, 727
-2,597
-942
-2, 582
-95
-64
-830
-490
-84,902
-62, 719
-2, 851
-2,684
-927
-2,776
-128
-803
-441
-89, 641
-65, 775
-2, 699
-3, 153
-1, 154
-2, 736
-191
-67
-905
-448
-92,242
-67,391
-2,865
-2,690
-1,111
-3,001
-108
-69
-912
-507
-1,912
-628
-1,284
-5, 664
-3, 053
-2, 105
-1,047
-1,058
-5, 300
-2,937
-3, 254
-777
-2, 476
-4, 451
-2, 992
-2, 066
-695
-1, 371
-5,911
-3, 530
-1, 825
-796
-1, 029
-6, 739
-3, 949
-1,966
-804
-1, 163
-7, 380
-4, 241
-144
-1,878
-1, 336
-311
-231
-155
-1,332
-787
-314
-231
-125
-1,503
-912
-339
-252
-211
-2,344
-1, 624
-339
-381
-192
-1,527
-977
-336
-214
-207
-1,530
-994
-314
-222
-12,639
-3, 268
-24,837
502
-19,302
-1, 109
-27,995
-4,279
-22,397
-4, 529
-21,521
-905
-1,152
-34
-2, 082
112
-99
489
-261
-294
-554
1,285
-1,240
-4, 324
-1,441
-707
-2,381
-23
-780
-102
-1, 456
-2,614
987
171
-1, 187
-2, 365
1,115
63
-1,427
-2, 543
1,128
-12
-1,094
-2,290
1,138
58
-1, 395
-2, 596
1,023
178
-1, 475
-2, 279
972
-168
-7, 915
-4, 863
408
-5, 271
— 766
-24, 152
-2, 710
1,032
-3, 742
-1,369
-16,766
-3, 851
489
-4, 340
-818
-22, 622
-7, 122
-3, 477
-3, 645
-356
-16,473
-1, 552
1,918
-3, 470
-488
-19, 141
-3, 627
-453
-3, 174
-1,451
343
12 -2,005
12-3, 192
n.a.
13-14,063
12
.-
-
_.
13-1,203
13-20, 165
13-12,440
13-13, 139
13-11,241
7,232
11,651
23,870
7,140
12,810
7,557
4,610
4,360
250
420
1, 676
851
7,686
4,318
3,769
549
80
1,823
1,465
7,711
7,498
6,911
587
205
-460
469
5,503
7,696
7,242
454
-112
-2, 910
829
-3,009
-1, 533
-2,069
536
180
-2, 286
630
14, 971
2, 221
937
1,284
H 3, 300
2,435
-326
3,884
2, 825
1,058
-1,260
468
3,965
2,690
213
2,476
-254
241
16, 158
2,060
688
1,371
893
2,240
1, 637
2,487
1,458
1,029
1, 405
2,454
15, 819
2,877
1, 715
1,163
701
3, 450
\
i2 416
12 1,092
12 373
i 2 3,228
12-820
|
6, 599
1,152
6,073
-206
-4, 509
916
7,737
8,791
18, 151
1,355
2,676
-3, 291
2,736
2,139
-3, 889
1,093
10,901
-340
-10,126
-217
-759
-2,095
-6, 744
787
242
-545
-2, 902
6,478
5,887
4,975
-5, 570
3,734
3,014
1, 390
-4, 677
4,790
4,240
3,263
-6, 914
2,603
2,067
1, 073
-3, 268
-7, 394
502
7,137
-1, 109
7,606
-4, 279
7,507
-4, 529
5,615
-905
-3, 189
.
76
77
78
79
See footnotes on page 57.
85,764
54,898
1,738
2,334
609
2,798
1,331
280
1,217
94
7,509
..
64
65
66
67
68
69
ii.
*
IV
-7,462
-4, 556
-5, 357
801
-68
-3, 198
360
Foreign assets in the United States, net (increase/capital inflow (+) )
Foreign official assets in the United States, net _
U S Government securities
U S Treasury
securities 6
Other 7
._
Other U S Government liabilities 8
U S liabilities reported by 9U S banks not included elsewhere
Other foreign official assets
III
II
12-1,083
_.
1981
n.a.
7,637
1,221
SUKVEY OF CUKRENT BUSINESS
48
September 1981
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Not seasonally adjusted
1980
Line
A
Seasonally adjusted
1980
1981
1981
1980
I
II
III
IV
I'
II"
I
II
III
IV
I'
220,626
52,999
56,590
52,927
58,110
59,718
60,750
52,669
54,654
56,181
57,180
60,023
58,557
202
317
1,043
4,800
37
77
250
1,183
44
19
275
1,260
49
35
255
1,111
72
186
263
1,246
49
321
282
1,041
46
307
313
1,204
37
77
262
1,183
44
19
257
1,260
49
35
265
1,111
72
186
259
1,246
49
321
295
1,041
46
307
294
1,204
-3,317
295
-701
617
-899
-145
-739
100
-978 -1,010 -1,204
-115
-277
430
-701
1,371
754
-899
332
477
-739
-650
-750
-978 -1,010
-816
379
494
-539
-1,204
1,273
843
223,966
54,462
57,144
53,738
58,622
60,286
61,846
54,898
55,667
56,252
57,149
61,098
60,477
244,871 62,993 61,729
58,193
61,956
65,064
66,752
63,868
60,706
58,792
61,644
66,065
65,574
II*
Balance of payments adjustments to Census trade data:
EXPORTS
l
1 Merchandise exports, Census basis including reexports and excluding military grant shipments
Adjustments:
2
3
4
5
6
7
8
9
Private gift parcel remittances.
Gold exports nonmonetary
Inland U S. freight to Canada _
U S -Canadian reconciliation adjustments, n e e . net 2
Merchandise exports transferred under U.S. military
agency
sales contracts identified in Census documents3
Other adjustments, net* . __
.
Of which Quarterly seasonal adjustment discrepancy ^
Equals: Merchandise exports, adjusted to balance of payments
basis excluding "military" (table 1, line 2)
IMPORTS
10
Merchandise imports, Census basis 1 (general imports) .
Adjustments:
2,772
1,172
641
736
223
476
441
1,172
641
736
223
476
441
-394
2,059
-78
906
-136
248
-124
243
-56
662
-76
119
-77
377
-78
62
-844
-136
1,200
952
-124
-250
-493
-56
908
246
-76
-690
-809
-77
1,453
1,076
249,308
64,993
62,482
59,048
62,785
65,583
67,493
65,024
62,411
59,154
62,719
65,775
67,391
223,966
54,462
57,144
53,738
58,622
60,286
61,846
54,898
55,667
56,252
57, 149
61,098
60,477
Western Europe
European Communities (0) 7
United Kingdom
European Communities (6)
Germany
Western Europe ex eluding EC (9) 7
67,603 18, 261
53,466 14,266
3,254
12,818
38,955 10,565
11,449 2,978
14, 137 3,995
17,868
14,291
3,746
10, 123
3,115
3,577
15, 100
12,071
2,737
8,940
2,613
3,029
16,374
12,838
3,081
9,327
2,743
3,536
17,121
13,732
3,279
9,817
2,634
3,389
16,592
13,377
3,321
9,379
2,504
3,215
17,620
13,856
3,252
10, 193
2,799
3,764
17,363
13,847
3,496
9,922
3,099
3,516
16,523 16,097
13,096 12,667
2,965 3,105
9,693 9,147
2,851 2,700
3,427 3,430
16,540
13,339
3,262
9,433
2,463
3,201
16,217
13,016
3,092
9,278
2,459
3,201
8
9
10
11
Eastern Europe
-- -Canada*
-Latin American Republics and other Western Hemisphere
Mexico
-
4,143
41,389
38,811
15,197
1,253
10,233
8,152
3,059
769
10,795
9,810
3,727
705
9,717
9,885
3,882
1,416
10,644
10, 964
4,529
1,575
11, 148
10,761
4,245
878
12,982
11,317
5,035
1, 214
10,302
8,759
3, 142
750
10, 252
9,683
3,592
796
10,450
9,948
4,021
1,383
10,385
10,421
4,442
1,518
11, 222
11,613
4,351
849
12,379
11, 157
4,847
12
13
14
Japan
Australia New Zealand and South Africa
Other countries in Asia and Africa
20,806
7,117
44,097
5,033
1,461
10,069
5,203
1,712
10,987
5,193
1,820
11,318
5,377
2,124
11,723
5,600
1,983
12,098
5,204
2,495
12,378
4,952
1,460
10,591
5,323
1,713
10,583
5,380
1,820
11,335
5,151
2,124
11,588
5,504
1,983
12,718
5,376
2,495
12,004
136,915
17,364
65,544
34,988
3,857
14,364
35,578
4,268
16,529
31,830
4,475
16,728
34,519
4,764
17,923
35,852
4,970
17,889
37,273
5,472
18, 223
34,334
4,111
15, 239
34,651
4,141
16, 125
34,173
4,476
16,807
33,757
4,636
17, 373
35,249
5,295
19,036
36,467
5,320
17,841
249,308
64,993
11
12
13
14
15
16
B
Gold imports , nonmonetary
_
U S -Canadian reconciliation adjustments, n.e c net 2
Merchandise imports of U.S. military agencies identified in
Census documents *
Other adjustments, net 6 Of which quarterly seasonal adjustment discrepancy 6
Equals: Merchandise imports, adjusted to balance of payments
basis, excluding "military" (table 1, line 18) .
Merchandise trade, by
area, adjusted to balance of payments basis,
excluding military:7
EXPORTS
1 Total, all countries ( A-9)
2
3
4
5
6
7
15
16
17
Memoranda:
Industrial countries 77
Members of OPEC
Other countries 7 '_
-
._. -
_
.. _. _
IMPORTS
18
Total all countries ( A-16)
19
20
21
22
23
24
Western Europe
European Communities (9) 7
United Kingdom
European Communities (6)
Germany
°
Western Europe excluding EC (9) 7
25
26
27
28
Eastern 2Europe
Canada
Latin American Republics and other Western Hemisphere
Mexico
.- .-
29
30
31
Japan
Australia New Zealand and South Africa
Other countries in Asia and Africa
32
33
34
Memoranda:
Industrial countries77
Members of OPEC
Other countries 7—
See footnotes on page 57.
-
..
._
-
---
_
-
--
-
47, 255
36,097
9,848
25,112
11,692
11,158
62,482
59,048
62,785
65,583
67,493
65,024
62,411
59,154
62,719
65,775
67,391
12,331 11,898
9,346 9,207
2,425 2,300
6,639 6,633
3,098 3,115
2,985 2,691
11, 654
8,801
2,562
5,976
2,829
2,853
11,372
8,743
2,561
5,864
2,650
2,629
12,586
9,592
2,821
6,360
2,751
2,994
13,301
10,518
3,260
6,840
2,886
2,783
12,366
9,435
2,480
6,679
3,096
2,931
11,784
9,209
2,237
6,697
3,021
2,575
11,772
8,830
2,603
5,949
2,889
2,942
11,333
8i623
2,528
5,787
2,686
2,710
12, 693
9, 693
2,870
6,420
2,742
3,000
13, 235
10,602
3,242
6,935
2,795
2,633
395
10, 191
8,819
3,025
368
11,447
9,644
3,239
448
11,486
9,942
3,062
404
11,958
9,757
3,515
--
334
1,444
42,434 11, 164
37,521 9,941
12,580 3,133
346
9,907
9,216
3,313
396
9,462
8,705
2,883
368
11,901
9,659
3,251
450
11,410
10, 138
3,190
400
12,328
9,654
3,525
334
11,222
9,751
3,016
347
9,574
9,307
3,300
__ __
31, 217 7,287
6,533 1,656
82,904 22,280
7,984
1,610
21,521
7,949
1,482
19,400
7,997
1,785
19,703
8,550
1,396
21,053
9,416
1,434
20,960
7,404
1,769
22, 178
7,786
1,-561
22,042
7,831 8,186
1,492 1,711
18,654 20,030
8,745
1,500
20,961
9,183
1,391
21,463
32,438
15,298
16,074
31,399
14,312
15,987
30,547
12,560
15,545
33,055
13,432
15,930
33, 942
14,529
16,662
36,479
13,347
17, 267
32,761
15,025
16,055
30,715
14, 905
16,006
31, 286
12,226
15,247
34,424
14, 198
16,705
35,767
13,929
17,291
127,439
55,602
63,536
32,677
13,446
16,228
SUEVEY OF CUEEENT BUSINESS
September 1981
49
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
1980
Line
1980
I
B
Merchandise trade, by area, adjusted to balance of payments basis,
excluding military— Continued
35
Total, all countries
Seasonally adjusted
II
1981
III
IV
•I'
1980
HP
I
1981
III
IJ
IV
If
II*
BALANCE (EXCESS OF EXPORTS+)
•_..
-25,342 -10,53 1-5,338 -5,310 -4,163 -5,297 -5,647 -10,126 -6,744 -2,902 -5,570 -4,677 -6,914
36
37
38
39
40
41
Western Europe
European Communities (9) 7 _
__
United Kingdom
European Communities (6)
Germany
_
Western Europe, excluding EC (9) 7 _.
42
43
44
45
Eastern 2Europe
_-..
.. . .
Canada
Latin American Republics and Other Western Hemisphere
Mexico
_
_
.
46
47
48
Japan___ _
_
Australia, New Zealand, and South Africa
Other countries in Asia and Africa
49
50
51
Memoranda:
Industrial countries 77 _ _ _
Members of OPEC
Other countries 7
_
_ _.
_
5,002
4,095
520
3,463
93
907
4,535
4,140
458
3,457
-117
395
3,291
2,859
61
2,539
-382
432
5,254
5,579
4,421
4,638
772 . 1,259
3,514
-297
833
941
4,751
886
3,446
3,270
175
2,964
-216
176
4,764
4,044
577
3,360
14
720
3,847
3,646
392
3,013
-279
201
2,982
2,414
-150
2,343
-336
568
423
888
594
414
309
1,048
255 -1,257
1,305
1,180
999
1,278
1,125
-262
623
1,055
478
654
1,663
1,510
880
-920
-992
126
1,015
401
259 -1,062
777
1,129
996
1,203
1,070
264
1,671
1,289
445
421
1,400
1,332
5,930
4,920
829
3,926
-120
1,010
5,970
5,084
1,446
3,490
919
2,699
-1,045
-931
1,290 -1,789
-74
2,617
20,348
17,369
2,970
13,843
—243
2,979
4
«
s 7
*» '- tt
485
403
678
376
292
-10,411 -2,254 -2,781 -2,756 -2, 620 -2, 950 -4, 212 -2,452 -2,473 -2,451 -3, 035
102
584
-195
-309
338
339
152
587
1,061
328
413
-38, 807 -12,21 1-10,53 4-8, 082 -7,980 -8,955 -8, 582 -11,587 -11,459 -7,319 -8,442
3 241 -3,807
*483
1,104
8 243 -9, 459
4,179
9,476
1,464
2,550
794
1,283
1,910
1,573
1,080
3,936
700
2,887
825
-38,238 -11,441 -10,044 -8. 085 -8, 668 -9, 559 -7, 875 -10, 914 -10,764 -7, 750 -8,810 -8, 903 -8,609
542
2,008 -1,710
1,183
1,993
-816
1,145
956
119
2 33'
1,227
1,560
550
.
Merchandise trade, by principal end use category,
adjusted to
balance of payments basis, excluding military. 2
EXPORTS
1 Total (A-9)
2
3
4
5
6
7
.
._
Agricultural products
Nonagricultural products
N ._
Foods, feeds, and beverages
Foods, feeds, and beverages—agricultural
Grains
Soybeans
_.
*
8
9
10
11
12
13
Industrial supplies and materials
Agricultural
Nonagricultural
_
Fuels and lubricants
Petroleum and products
Nonmonetary gold
\
14
15
16
17
Capital goods, except automotive
Machinery, except con sumer-type
Civilian aircraft, complete —all types
Other transportation equipment
18
19
20
Automotive vehicles,
parts and engines To Canada 8
To all other areas.
_
21
22
Consumer goods (nonfood), except automotive
All other, including balance of payments adjustments, not included in lines C 4-21
_
_\
.
_
_
.. _
223,966
54,462
57,144
53,738
58,622
60,286
61,846
54,898
55,667
56,252
57,149
61,098
60,477
42, 232
181, 734
10,555
43, 907
9,933
47, 211
9,742
43, 996
12,002
46,620
12, 815
47, 471
10, 776
51,070
10,274
44,624
10, 055
45, 612
10,834
45, 418
11,069
46, 080
12 731
481367
11,075
49, 402
35, 762
34, 675
20, 795
5,884
8,325
8,181
4,862
1,599
8,198
7,930
4,567
1,431
8,696
8,325
5,312
1,098
10,543
10,239
6,054
1,756
10, 761
10,563
6,472
1,936
9,320
9,074
5,445
1,338
8,478
8,272
5,050
1,406
8,356
8,028
4,775
1,317
9,328
9,056
5,102
1, 855
9,600
9, 319
5,868
1,306
11, 133
10, 843
6 801
1^772
9,604
9, 302
5,714
1,336
71, 817
7,027
64, 790
8,775
2,847
4,033
17, 703
2,246
15,457
1, 716
661
1,009
19, 673 16, 969
1,847
1,285
17, 826 .15, 684
2,424
2,231
704
695
561
1,237
17,472
1,649
15, 823
2,404
787
1,226
18, 339
2,105
16, 234
2,409
899
1,370
17,738
1,555
16, 183
2,102
806
1,283
17, 721
1 874
15, 847
1,932
679
1,009
19,057
1,871
17, 186
2 314
676
1,237
17, 323
1,647
15, 676
2,213
696
561
17, 716
1, 635
16, 081
2,316
796
1,226
18, 453
1,740
16, 713
2 73
927
1,370
17,193
1>627
15,566
2,008
775
1,283
74, 077
58,352
8,431
1, 474
16, 813
13,330
1,868
333
18,923
14, 942
2,118
389
18, 492
14, 754
1,955
331
19,849
15,326
2,490
421
19, 890
16,090
2,073
464
21, 688
17,076
2,817
595
17,068
13, 444
1,996
333
18, 482
14, 498
2,176
387
19>204
15,223
2,143
330
19,323
15, 187
2,116
424
20, 198
16, 246
2,209
464
21,265
16,568
2,929
592
17, 318
10,326
6,991
4,456
2,764
1,692
4,375
2,601
1,774
3,710
2,065
1,645
4,777
2,896
1, 880
4,731
2,842
1,889
5,663
3,586
2,077
4,411
2,700
1,711
4,061
2,353
1, 708
4,260
2,490
1,770
4,586
2,783
1,802
4,680
2 761
1,919
5,257
3,261
1,996
16,694
4,690
4, 024
3, 901
4,079
4,174
4,327
4,714
3,865
4, 026
4,089
4,212
4,162
8,298
2,475
1,951
1,970
1,902
2, 391
3110
2,506
1,846
2,111
1,835
2,422
2,996
249,308
64, 993
62,482
59, 048
62,785
65,583
67,493
65,024
62,411
59,154
62,719
65,775
67,391
78, 919
170,389
21,624
43,369
20, 138
42, 344
17, 865
41,183
19,292
43, 493
21,324
44, 259
20,277
47, 216
21, 174
43, 850
21,029
41,382
17,387
41, 767
19, 329
43,390
20,819
44, 956
21,201
46, 190
IMPORTS
23
24
25
Total (A-16)
_
_.
..
Petroleum and products
Nonpetroleum products
26
Foods, feeds, and beverages
27
28
29
30
31
Industrial supplies and materials
Fuels and lubricants
Nonmonetary gold _ ..
.
.
18,127
4,488
4,504
4,314
4,821
4,854
4,666
4,501
4,406
4,467
4,753
5,019
4,562
..
134,522
83, 913
5,565
34917
23, 119
1,867
34, 265
21, 462
1,209
30, 821
18, 951
1,644
32, 519
20,381
845
35, 845
22, 693
943
35, 949
21, 411
1,035
36, 645
22,588
1,867
34,741
22,306
1,209
30,509
18, 587
1,644
32,627
20, 432
845
35,500
22,099
943
36, 434
22, 287
1,035
--
30,348
26, 176
2,985
7,31B
6,399
656
7,750
6,665
732
7,442
6,479
683
7,843
6,633
914
8,087
7,032
940
8,564
7,601
894
7,386
6,459
667
7,444
6,404
686
7,577
6,561
736
7,941
6,752
896
8,182
7,107
960
8,224
7,314
841
27, 062
8,588
18,474
6,842
2,181
4,660
6,634
1,903
4,731
6,327
1,649
4,679
7,259
2,855
4,404
7, 115
2,217
4,898
7,865
2,808
5,057
6,466
2,031
4,436
6,399
1, 857
4,542
7,016
2,053
4,963
7,181
2,647
4,533
6,720
2,045
4,675
7,606
2,743
4,863
34,445
8,010
8,461
9,122
8,852
8,725
9,134
8,548
8,581
8,554
8,762
9,329
9, 284
4.804
1,423
868
1,022
1.491
957
1.315
1.478
840
1.031
1.455
1.025
1.281
~
.. . -.
_ _ . --
_
_
32
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, engines, parts
33
34
35
Automotive vehicles, parts and engines
From Canada
_
From all other areas
36
37
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments, not included in lines C 26-36.-.
-..
--
See footnotes on page 57.
-
---
SUEVEY OF CUEEENT BUSINESS
50
September 1981
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
D
1980
5
6
7
8
9
10
11
12
13
14
15
16
Agricultural products
N onagri cultural products
Excluding military grant shipments
.
Foods feeds and beverages
Agricultural
Grains and prep arations
Soybeans
Other agricultural foods, feeds , and beverages - -
-
Nonagricultural (fish distilled beverages, etc.)
_ ._
Industrial supplies a nd materia Is
Agricultural
-Raw cotton including linters
Tobacco unmanufactured
Other agricultural industrial supplies (hides, tallow, etc.)
Nonagricultural
17
18
19
Fuels and lubricants *
Coal and related fuels
Petroleum and products
20
Paper and paper base stocks
21
22
23
24
25
26
27
Textile supplies and materials
Chemicals excluding medicinals
Other nonmetals (minerals wood rubber tires etc )
28
29
30
31
32
33
34
35
36
37
38
-
-
Capital goods except automotive
-
Machinery except consumer-type
Electrical and electronic, including parts and attachments.. .
Nonelectrical including parts and attachments .
Construction machinery and nonfarm tractors
~~
Textile and other specialized industry machinery
Other industrial machinery, n.e.c - Agricultural machinery and farm tractors
Business and office machines computers etc
Electronic computers and parts
Scientific, professional, and service industry equipment. __
Civilian aircraft engines parts
Civilian aircraft complete all types
Other transportation equipment
42
Automotive vehicles parts and engines
•
<
To Canada 8
To all other areas
Passenger cars iiew and used
Trucks buses and special vehicles
.
Bodies engines parts and accessories n.e.c
48
Consumer goods (nonfood) except automotive
:
Consumer durables manufactured
Unmanufactured consumer eoods (eem stones)
See footnotes on page 57.
—
-
45
46
47
49
50
K\
-
--
Other metals, primary and advanced, including advanced steel
Precious metals (gold silver pla*tinum)
39
40
41
43
44
1980
1981
1980
1981
I
II
III
IV
I
II
I
II
III
IV
I
220,782
53,042
56,608
52,999
58,134
59,737
60,762
53,466
55,149
55,503
56,664
60,537
59,412
41,757
179,025
178,869
10,439
42,603
42,560
9,837
46,771
46,753
9,626
43,373
43,301
11,857
46,277
46,254
12,699
47,038
47, 018
10, 646
50, 116
50, 104
10, 158
43,308
43, 265
9,959
45, 190
45, 172
10,718
44,785
44,713
10,922
45,742
45, 719
12,615
47,922
47, 902
10,945
48,467
48,455
35,313
8,221
8,108
8,584
10,400
10,655
9,196
8,374
8,266
9,216
9,456
11,027
9,480
34,226
20, 795
5,880
7,552
8,077
4,843
1,599
1,635
7,840
4,590
1,429
1,821
8,213
5,323
1,097
1,794
10,096
6,038
1,755
2,302
10,457
6,463
1,926
2,068
8,950
5,423
1,379
2,148
8,168
5,031
1,406
1,730
7,938
4,798
1,315
1,824
5^113
1,854
1,978
9,177
5,852
1,305
2,020
10,737
6,792
1,762
2,183
9,179
5,692
1,327
2,160
II
Merchandise trade, by end-use category, Census basis, 1 including
military grant shipments:
1 Merchandise exports, Census basis, including military grant shipments (A-l)
2
3
4
Seasonally adjusted
--
1,087
144
268
371
305
198
246
207
329
272
280
290
301
70,594
7,000
2,880
1,334
2,786
17, 399
2,234
1,002
359
873
19,412
1,841
874
312
656
16,723
1,281
500
230
550
17,061
1,645
504
433
707
17,818
2,094
915
299
880
17, 201
1,549
540
325
684
17,417
1,862
811
311
740
18,795
1,865
759
417
689
17,078
1,643
695
306
642
17,304
1,630
616
299
716
17,932
1,730
725
268
737
16,656
1,620
461
441
718
63,594
15,165
17, 571
15, 443
15,416
15,724
15,652
15,555
16, 930
15,435
15,673
16,202
15,036
8,775
4,780
2,847
1,716
749
661
2,424
1,322
704
2,231
1,328
695
2,404
1,381
788
2,408
1,145
899
2,102
1,066
806
1,932
947
679
2,314
1,239
676
2,213
1,309
696
2,316
1,285
796
2,731
1,440
927"
2,008
1,002
775
4,973
1,004
1,263
1,417
1,289
1,263
1,309
1,326
1,264
3,819
17,757
9,647
1,496
3,493
13, 634
5,989
887
4,268
2,443
403
745
3,699
1,920
995
4,715
2,672
449
920
4,134
2,028
935
4,502
2,287
333
918
2,819
763
1,002
4,272
2,246
311
911
2,982
1,278
981
4,538
2,430
197
857
3,050
1,290
1,031
4,575
2,587
300
884
2,824
1,144
981
4,483
2,356
322
905
3,001
1,278
990
4,596
2,421
226
858
3,053
1,290
1,009
4,418
2,428
262
870
2,776
1,144
1,340
1, 053
894
4,318
2,434
477
746
3,703
1,920
1, 194
1,417
972
4,564
2,501
391
906
4,089
2,028
973
4,393
2,356
306
937
2,840
763
72,600
16,453
18,521
18,144
19,483
19,580
21,296
16,707
18,080
18,856
18,957
19,888
20,873
57,050
11, 817
45,234
9,958
3,837
15,306
1, 926
9,076
7,540
5,131
13,012
2,756
10, 257
2,106
853
3,559
470
2,056
1,669
1,212
14,601
3,053
11,548
2,616
946
3,973
531
2, 182
1,811
1,301
14,438
2,914
11,524
2,652
993
3,833
453
2, 332
1,954
1,261
14, 999
3,094
11, 904
2,584
1,045
3,941
472
2,506
2,105
1,357
15, 799
3,140
12,659
2,760
1,045
4,233
569
2,593
2,165
1, 459
16,748
3,335
13, 413
3,025
1,094
4,496
655
2,639
2,197
1,504
13,126
2,798
10,328
2,178
884
3,567
446
2,044
1,668
1,209
14,157
2,945
11, 213
2,494
912
3,866
464
2,223
1,847
1,254
14,907
3,005
11,903
2,716
1,043
3,963
485
2,382
1,991
1,314
14,860
3,069
11,790
2,570
998
3,910
531
2,427
2,033
1,355
15,955
3, 191
12, 763
2,854
1,084
4,244
544
2, 583
2,167
1,456
16,240
3,212
13, 028
2,884
1,057
4,373
577
2,685
2,237
1,452
14,076
8,256
1,474
3,107
1,825
333
3,531
2,057
389
3,375
1,923
331
4,063
2,451
421
3,317
2,054
464
3,953
2,753
595
3,249
1,953
333
3,536
2,115
387
3,618
2,111
330
3,674
2,078
424
3,469
2,190
464
4,040
2,865
592
15, 858
4,071
3,995
3,412
4,381
4,417
5,268
4,025
3,681
3,962
4,190
4,366
4,862
8,866
6,992
2,379
1,692
2,221
1,774
1,767
1,645
2,500
1,881
2,529
1,889
3,191
2,077
2,314
1, 712
1,973
1,708
2,192
1,770
2,388
1,803
2,447
1,919
2,866
1,996
4,010
3,052
8, 796
1,164
716
2,191
1,120
791
2,084
641
757
2,014
1,084
789
2,507
1,058
851
2,508
1,270
921
3,077
1,186
742
2,097
972
722
1,987
853
806
2,302
998
782
2,410
1,078
885
2,403
1,081
842
2,939
16, 176
4,565
3,899
3,766
3,946
4,060
4,205
4,589
3,740
3,891
3,957
4,098
4,040
7,890
7,554
732
2,515
1,831
220
1,850
1,868
182
1,732
1,879
155
1,794
1,976
176
1,787
2,113
160
1,896
2,160
150
2,540
1,846
202
1,734
1,828
178
1,817
1,902
172
1,798
1,979
180
1,818
2,134
146
1,774
2,120
146
SURVEY OF CURRENT BUSINESS
September 1981
51
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1980
1980
I
52
Special category (military-type goods)
3,264
53
Exports, n.e.c., and reexports.
6,977
54
55
Domestic (low-value, miscellaneous) .
Foreign (reexports)
56 Merchandise imports, Census basis
. . .
II
708
1,625
834
1,840
III
736
1,634
IV
I
1981
1980
1981
II
1,052
986
905
1,878
»2,302
2,544
I
II
708
III
IV
I
II
1,052
834
736
986
905
1,646 ' 1,754
1,765
1,813
2,321
2,449
2,863
4,115
643
983
758
1,082
707
928
755
1,123
1,179
1,124
1,355
1,190
668
978
731
1,023
725
1,040
739
1,075
1,207
1,114
1,322
1,128
244,871
62,993
61,729
58, 193
61,956
65,064
66,752
63,024
61,658
58,299
61,890
65,256
66,650
57
Foods, feeds, and beverages
18, 127
4,488
4,504
4,314
4,821
4,854
4,666
4,501
4,406
4,467
4,753
5,019
4,562
58
Coffee, cocoa, and sugar
6,255
1,527
1,628
1,506
1,594
1,575
1,247
1,461
1,584
1,532
1,675
1,609
1,231
3,872
1,988
1,101
338
1,070
419
59
60
61
Green coffee
Cane sugar.
.
..
. -
..
•_
Other foods, feeds, and beverages
62
Industrial supplies and materials
63
64
Fuels and lubricants 9
Petroleum and products. _.
--
.
65
Paper and paper base stocks
66
67
68
69
70
Materials associated with nondurable goods and farm output,
n.e.s..
Textile supplies and materials
Tobacco, unmanufactured
Chemicals, excluding medicinal
Other (hides, copra, materials for making photos, drugs,
dyes)
71
Building materials, except metals
72
73
74
75
Materials associated with durable goods output, n.e.s
Steelmaking materials
.
Iron and steel products
Other metals, primary and advanced, including advanced
steel
Precious metals (gold, silver, platinum).. _
Nonmetals (oils, gums, resins, minerals, rubber, tires, etc.)
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
Capital goods, except automotive
Machinery, except consumer-type
....
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments
Construction, textile and other specialized industry
machinery and nonf arm tractors. . . . .
.
...
Other industrial machinery , n.e.s.
Agricultural machinery and farm tractors ..
Business and office machines, computers, etc..
.
_. _
Scientific, professional and service industry equipment
Transportation equipment, except automotive
...
Civilian aircraft, engines, parts .
Civilian aircraft, complete, all types _.
Automoti ve vehicles, parts, and engines
From Canada
From all other areas
867
555
835
676
866
586
603
487
973
434
1,035
415
994
430
870
708
766
757
584
489
11,872
2,960
2,876
2,808
3,227
3,279
3,419
3,037
2,821
2,936
3,078
3,410
3,331
130,966
35,496
33,479
29,937
32,054
34, -968
35, 143
35, 224
33,955
29,625
32,162
34,623
35,628
83,789
78, 795
23,062
21,567
21,470
20, 146
18,950 20,307
17,864 19, 218
22,530
21, 161
21,313
20, 179
22,531
21, 117
22,314
21,037
18,586
17, 386
20,358
19, 255
21, 936
20, 656
22, 189
21, 103
5,269
1,382
1,371
1,226
1,290
1,408
1,424
1,385
1,348
1,248
1,288
1,411
1,399
10, 175
2,040
455
5,187
2,617
549
126
1,325
2,717
545
172
1,388
2,298
461
91
1,155
2,542
485
66
1,319
3,039
629
172
1, 498
3,056
626
184
1,580
2,548
544
107
1,307
2,588
535
143
1,330
2,415
464
112
1,219
2,623
497
94
1,330
2,967
625
142
1,483
2,920
613
150
1,524
2,492
617
612
590
673
739
666
592
579
620
702
716
3,734
1,029
868
892
945
964
1,105
1,111
821
844
958
1,041
1,054
28,000
2,161
7,559
7,406
425
1,888
7,054
663
1,970
6,570
550
1,750
6,970
523
1,951
7,028
484
2,024
8,245
752
2,854
7,649
572
1,966
6,884
607
2,029
6,532
486
1,696
6,935
496
1,869
7,268
644
2,093
8,068
691
2,937
13, 795
5,716
4,485
3,870
1,670
1,223
3,264
1,126
1,157
3,284
1,561
986
3,377
1,358
1,119
3,190
1,054
1,330
3,354
1,099
1,285
3,899
1,670
1,213
3,123
1,126
1,124
3,348
1,561
1,002
3,425
1,358
1,145
3,212
1,054
1,319
3,193
1,099
1, 247
633
29,624
7,168
7,528
7,297
7,631
8,031
8,564
7, 241
7,222
7,432
7,729
8,126
8,224
26, 176
6,399
6,665
6,479
6,633
7,032
7,601
6,459
6,404
6,561
6,752
7,107
7,314
7,945
18,231
1,867
4,532
1,972
4,694
2,029
4,449
2,077
4,556
2, 083
4,949
2, 304
5,297
1,955
4,504
1,924
4,480
1,998
4,563
2,068
4,684
2,179
4,928
2,247
5,067
2,857
6,545
1,823
4,451
2,555
698
1,527
608
1,097
602
754
1,696
527
1,086
630
680
1,668
377
1,075
649
725
1,654
312
1,193
673
852
1,779
429
1, 192
697
851
1,920
497
1,300
729
705
1,507
576
1,111
605
704
1,628
458
1,068
623
678
1,705
432
1,094
654
770
1,706
357
1,178
673
863
1,756
403
1,206
700
794
1,839
429
1,284
721
3,448
770
862
818
998
998
963
781
817
871
979
1,019
910
2,985
964
656
274
732
202
683
164
914
325
940
297
894
264
667
274
686
202
736
164
896
325
960
297
841
264
27,062
6,842
6,634
6,327
7,259
7,115
7,865
6,466
6,399
7,016
7,181
6,720
7,606
8,588
18,474
2,181
4,660
1,903
4,731
1,649
4,679
2,855
4,404
2,217
4,898
2,808
5,057
2,031
4,436
1,857
4,542
2,053
4,963
2,647
4,533
2,045
4,676
2,743
4,863
4,400
1,134
1,482
4,414
1,062
1,705
4,065
1,034
1,621
4,583
1,194
1,828
93
94
95
Passenger cars, new and used.
..
Trucks, buses, and special vehicles
Bodies, engine s, parts and accessories, n.e.s
16, 819
4,067
6,176
4,329
946
1,566
4,213
964
1,458
3,907
1,013
1,407
4,370
1,144
1,745
4,366
1,102
1,648
4,845
1,172
1,848
4,027
897
1,542
3,978
973
1,447
96
Consumer goods (nonfood) , except automotive
34,445
8,010
8,461
9,122
8,852
8,725
9,134
8,548
8,581
8,554
8,762
9,329
9,284
4,735
3,301
725
5,060
3,498
771
4,938
3,593
753
1,303
1,439
1,346
97
98
99
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gems, nursery stock) ...
18,461
13,066
2,918
4,089
3,019
902
4,669
3, 139
652
4,709
3,759
654
4,994
3,149
709
4,610
3,324
791
4,893
3,483
758
4,489
3,181
878
4,694
3,238
649
4,544
3,345
666
100
Imports, n.e.s. Qow value, goods returned, military aircraft,
movies, exhibits)
4,647
989
1,123
1,196
1,339
1,371
1,380
1,044
1,095
1,205
See footnotes on page 57.
SUEVEY OF CUEEENT BUSINESS
52
September 1981
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
1980
1980
Line
U.S. Government grants (excluding military) and transactions increasing Government assets, total
Al
1981
I
II
III
IV
P
14,192
3,779
3,089
3,468
3,856
3,394
3,440
4,659
750
3,909
1,336
442
894
787
46
741
912
13
900
1,624
250
1,374
977
977
994
129
865
UP
By category
2
3
4
Grants, net (table 1, line 34, with sign reversed)
Financing military purchases *
Other grants
5
6
7
8
9
Loans and other long-term assets (table 1, line 44, with sign reversed)
Capital subscriptions and contributions to international financial institutions, excluding IMF
Credits repayable in U.S. dollars
- -Credits repayable in foreign currencies
__._
Other long-term assets
9,812
796
8,629
13
375
2,614
216
2,300
1
97
2,365
171
2,099
2
93
2,543
287
2,152
7
97
2,290
121
2,079
3
88
2,596
195
2,299
(*)
102
2,279
323
1,860
(*)
96
Foreign currency holdings and short-term assets, net (table 1, line 46, with sign reversed)
Foreign currency holdings (excluding administrative cash holdings), net
Receipts from—
Sales of agricultural commodities
Interest
-Repayments of principal
Reverse grants
__ .
Other sources
..
Less disbursements for—
Grants and credits in the recipient's currency
Other grants and credits
Other U S Government expenditures
- Assets held under Commodity Credit Corporation
Charter Act, net
Assets financing military sales contracts, net 2
-Other short-term assets (including changes in administrative cash holdings), net
-280
-141
-171
-12
-63
-68
12
-33
-58
-29
-178
-38
168
-23
(*)
18
37
(*)
11
27
(*)
16
24
(*)
13
27
(*)
21
37
(*)
13
32
14
1
8
4
2
1
7
14
4
3
4
3
13
5
315
-132
64
-96
111
-18
73
28
67
-46
84
-105
70
-47
-6
-63
23
17
17
-35
237
796
1,531
7,516
3,336
909
187
315
232
216
333
2,337
692
273
56
64
-63
171
435
1,250
917
282
46
111
100
287
447
1,627
807
189
44
73
139
121
316
2, 303
920
165
41
67
57
195
293
2,009
839
120
59
84
-36
323
473
1,410
817
152
52
70
283
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U.S. merchandise
- - -Expenditures on U.S. services *
---'
Financing of military sales contracts by U S Government 6 (line C6)
By long term credits. ...
By short-term
credits
*
B y grants l
-- U S Government grants and credits to repay prior U.S Government credits 14
_..
U S Government long- and short-term credits to repay prior U S private credits
Increase in liabilities associated with U.S. Government grants and transactions increasing Government
assets (including changes in retained accounts) * (line Cll)
Less receipts on short-term U.S. Government assets (a) financing military sales contracts * and (b)
financing repayments of private credits
- -- -- .
Less foreign currencies used by U S Government other than for grants or credits (line A19)
9,970
6,071
1.611
1,974
1,224
2,444
1,561
279
585
143
2,463
1,671
306
344
299
2,503
1,337
530
490
478
2,559
1,502
495
555
305
2,591
1,491
463
739
739
2,292
1,591
386
339
210
750
360
650
442
61
216
46
103
232
13
78
197
250
118
5
63
25
129
87
4
1
-2
(*)
3
1
-1
1
382
315
192
64
82
111
60
73
49
67
105
84
47
70
Estimated dollar payments to foreign countries and international financial institutions
4,222
1,335
626
965
1,297
803
1,149
4,367
917
1, 166
1,108
1,177
953
1,022
3,959
281
1,178
1,301
1,200
822
44
238
308
232
1,066
65
355
322
325
999
54
248
340
358
1,072
117
338
331
286
851
58
241
342
210
914
52
355
347
160
102
107
10
11
12
13
14
15
16
17
18
19
20
21
22
<-
-
(*)
58
115
-
By program
23
24
25
26
27
28
29
30
Capital subscriptions and contributions to international financial institutions, excluding I MF
Under farm product disposal programs
--Under Foreign Assistance Act and related programs
- Under Export-Import Bank Act
,
Other assistance programs
.
Other foreign currency assets acquired (lines A13, A14, and A16)
_ _ _ ,.
Less foreign currencies used by U S Government other than for grants or credits (line A19)
Other (including changes in administrative cash holdings) , net
- ---
_ . _ __
-- •
By disposition 3
31
32
33
34
35
36
37
38
39
40
41
42
43
Repayments on U S Government long -term assets, total (table 1, line 45)
Bl
2
3
4
5
6
Receipts of principal on U S . Government credits
Under farm product disposal programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
-- -O ther assistance programs
7
Receipts on other long-term assets
- - -
--
-
--
-
--
Cl U S Government liabilities other than securities* total* net increase (-{-) (table 1, line 61)
2
3
4
5
6
7
8
9
10
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including principal repayments on credits
financing military sales contracts) net of refunds *
Less U S Government receipts from principal repayments
-- Less U.S. Treasury securities issued in connection with prepayments for military purchases in the
United States
^--Plus financing of military sales contracts by U S Government " (line A34)
B y long-term credits
B y short-term credits *
-By grants ^
Less transfers of goods and services (including transfers financed by grants to Israel, and by credits) * 2
(tablel Iine3)
-
11
Associated with U.S. Government grants and transactions increasing Government assets (including
changes in retained accounts) 6 (line A40)
12
13
14
15
Associated with otber liabilities
Sales of nuclear materials by Department of Energy
_ - - Other sales and miscellaneous operations
- - .- -German Government 10-year loan to U S Government
See footnotes on page 57.
-
-
--
--
--
408
95
100
108
105
636
-68
420
80
205
780
-96
467
299
111
61
218
8,365
576
1,825
128
1,928
163
2,298
134
2,313
151
2,180
124
2,548
167
752
1,974
1,224
640
585
143
-442
344
299
84
490
477
470
555
305
603
739
739
222
339
210
2,131
2,279
-112
180
750
442
46
13
250
8,231
1,738
2,085
2,272
2,136
1
-2
.(*)
3
1
-1
1
-145
-80
10
—75
30
-48
78
-47
26
-73
-222
-61
-86
-75
94
3
91
-171
-54
-118
-39
-16
76
-100
129
SURVEY OF CURRENT BUSINESS
September 1981
53
Table 5.—-Direct Investment: Income and Capital
[Millions of dollars]
Lin
11)80
1980
(Credits +; debits -)
I
II
1<)81
III
IV
I'
II"
U.S. direct investment abroad :
1
3
4
E
6
Income (table 1, line 11). _ .
.
. .
Interest, dividends, End earnings of unincorporated affiliates (table 1, line 12)
Interest
- .. —
Dividends
Earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 13)
Capital (outflow (— )) (table 1, line 48)
g
9
10
11
12
13
14
15
16
17
Equity and intercompany accounts (table 1, line 49)
Incorporated affiliates
Equity 1
Increase 2
.
..
Decrease
Intercompany accounts
U.S. parents' receivables
U.S. parents' payables . .
.
——
Unincorporated affiliates
"
Reinvested earnings of incorporated affiliates (table 1, line 50) .
36, 842
11, 714
7,306
8,700
9,123
8, 473
8,113
19, 845
482
10 708
8,656
16,998
5, 787
239
2 124
3 424
5 927
3,418
72
2,595
751
3,888
4, 916
133
2 455
2,329 •
3,783
5,723
38
3 534
2 152
3,399
4 449
181
1 889
2 378
4 024
4,815
—18 546
—5 519
-2, 856
—3 295
—6 876
—2 106
—3 752
-1,548
-1,586
—2,607
—5,533
2 925
1, 021
-2,230
3,252
38
—16,998
408
464
—87
—678
591
551
—1 143
1,695
—56
—5 927
1,032
-608
-490
-1,272
782
-118
-1,004
886
1, 639
-3,888
489
1,436
—1 269
—1, 707
438
2 705
288
2,417
—947
—3 783
—3, 477
—2, 879
*-761
—1 876
1 115
—2 117
—370
—1 748
—598
—3 399
1 918
1, 384
—273
— 1 008
735
1 657
—1 538
3 195
534
—4 024
—453
n a.
na
na
na
na
na
na
na
3 298
13,022
11, 263
12,558
5 503
3,206
3,005
928
2,529
3,849
3 394
2,300
3,005
3 196
3 227
2,699
3 977
2 066
2 430
na
na
na
n a.
na
na
3 298
By industry of affiliates: 3
18
19
20
Income (line 1):
Petroleum.
Manufacturing ._
Other
21
22
23
Interest, dividends, and earnings of unincorporated affiliates (line 2):
Petroleum..
Manufacturing
Other
8,469
4,899
6,478
3,135
1 353
1 300
112
1,176
2,129
2,120
1 230
1 566
3 102
1 139
1 483
2 312
977
1 160
na
na
na
24
25
26
Reinvested earnings of incorporated affiliates (line 6, or line 17 with sign reversed):
Petroleum
.
Manufacturing
Other
_
4, 553
6 364
6 080
2 368
1 853
1 705
816
1,353
1, 719
1 274
1 070
1 439
95
2 088
1 217
1 666
1 089
1 270
na
2,757
-3, 543
' —763
1 399
—321
—670
2,107
-1,025
-50
365
62
61
—1 114
—2 259
—104
1 685
555
—322
432
na
—9 336
—1 912
-2, 105
—3 254
—2 066
—I- 825
—3, 147
-842
—1 311
-993
—6, 190
—628
—213
—225
-190
—1,284
-1,047
-211
-438
-397
-1,058
-777
-196
—271
-310
-2, 476
—695
—222
—377
-96
—1 371
—796
—225
—377
-194
—1,029
—171
—1 163
10, 854
2,221
3,884
2,690
2, 060
2, 487
2 877
4,664
4,110
4,162
4,594
-433
—51
1,772
-1,823
554
6,190
937
954
761
958
—197
192
786
—594
—16
1,284
2,825
2,568
978
1,028
-50
1,590
1,267
322
258
1,058
213
46
770
881
-111
—724
—469
-255
167
2,476
688
543
1 652
1,727
—75
—1 109
188
-1,297
146
1,371
1,458
1,378
1 061
1,113
-52
317
768
—451
80
1,029
1 715
1 509
1 163
-3, 281
-2, 478
-3, 577
-816
—417
—679
-815
-249
-1,041
-775
-1,494
—985
-876
—318
-872
-858
-275
-691
—891
—404
—671
27
28
29
....
._
Equity and intercompany accounts (outflows (-)) (line 8):
Petroleum.
Manufacturing
_
Other
-
_
__
Foreign direct investment in the United States:
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
Income (table 1, line 27)
Interest, dividends, and earnings of unincorporated affiliates (table 1, line 28) .
Interest
_ _ __
_
_____
Dividends
Earnings of unincorporated affiliates
___
Reinvested earnings of incorporated affiliates (table 1, line 29)
Capital (inflow (+)) (table 1, line 65)
_
_
Equity and intercompany accounts (table 1, line 66).
_ _ _
incorporated affiliates. . _ _ _
_
Equity.
Increase *_
_
Decrease2 ;
Intercompany accounts
U.S. affiliates' payables
U.S. affiliates' receivables.
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 67)
__
__
_
_ _ _ _ _
1 966
804
—188
445
682
714
—31
827
385
442
206
By industry of affiliate: 3
47
48
49
Income (line 30) ;
Petroleum
Manufacturing
Other
50
51
52
Interest, dividends, and earnings of unincorporated affiliates (line 31):
Petroleum
_ _ _ _ _
Manufacturing
Other
_
— _ __ _
-610
—902
-1,635
— 129
—219
—280
-164
-305
-578
-160
—166
-452
—158
—212
—325
-186
—280
-330
—388
53
54
55
Reinvested earnings of incorporated affiliates (line 35, or line 46 with sign reversed) :
Petroleum. __ _ _ _ _ • • • _ __
_ _ _
_
Manufacturing ..
_ _ _ _ _ _
Other
_
-2, 671
-1,576
-1,942
—688
—198
-398
-651
56
-464
-615
-1,328
—533
-718
-106
—547
-673
5
-362
—647
—233
—283
56
57
58
Equity and intercompany accounts (inflows (+)) (line 37):
Petroleum.
Manufacturing _.
_
_
Other
^324
1,684
3,304
94
402
442
24
878
1,924
-186
83
317
-255
321
623
268
717
473
31
748
936
See footnotes on page 57.
_
_ _
_
'.
_
—245
171
SURVEY OF CUKKENT BUSINESS
54
September 1981
Table 6.—Securities Transactions
[Millions of dollars]
1980
Al
1981
19 BO
(Credit (+); debits (-))
Line
I
Foreign securities, net U.S. purchases (—), balance of payments basis (table 1, line 51, or lines 6+17 below) — -3,310
III
II
IV
I'
HP
-766
-1,369
-818
-356
-488
-1,451
—658
-314
—837
—280
—140
—177
—458
-837
—316
—78
-283
-211
—155
—380
--37
-225
-115
—554
—161
—164
—140
-63
—44
359
-115
241
—226
-445
-193
—3
24
-12
-10
-59
160
—848
-1,274
Stocks:
2
Treasury basis, net l
— 2, 084
4
5
Adjustments:
Less recorded in table 1, line 48, as U.S. direct investment abroad
Plus exchange of stock associated with direct investment in the United States
Plus other adjustments
.
6
Balance of payments basis, net
3
7
8
9
10
11
12
13
14
_
Other foreign stocks
Western Europe
Canada
Japan
Other
-
.
....
..
Balance of payments basis, net
Newly issued in the United States
By type: Privately placed
Publicly offered
80
80
—Too
—6A
-2,264
-653
—516
-276
- _ . . . _
-
.
_.
._.
. ._
—-
17
—1 748
—417
—510
-781
—653
—128
—458
—36
—88
—69
-40
—19
—48
—846
—118
—911
19
-113
-911
19
-421
--
_
By area: Western Europe
Canada
Japan
Latin America
Other countries
International financial institutions 3 _
Redemptions of U.S.-held foreign bonds 2.
Canada
Other countries
International financial institutions 3
31
32
33
34
35
Other transactions in outstanding bonds 2
Western Europe
Canada
Japan
...
Other
.
*
.
—40
-348
-1,274
—462
—113
—349
—1 132
—130
—1 002
-752
-209
—543
-2,231
-245
-1,986
-967
—1808
—264
—643
—325
—325
-4
—216
—374
—624
—543
—7
—92
—80
-83
-99
—134
-100
-109
-299
-1,438
-220
-193
777
277
131
369
350
219
35
96
694
202
117
375
707
203
195
309
292
160
60
72
322
165
120
37
116
215
—76
—531
—432
—235
—213
—154
385
282
—53
42
114
112
—5
139
131
635
115
-96
341
275
2 240
2 454
3,450
2 088
1 669
2,879
-99
2,528
901
478
—243
—90
U.S. securities, excluding Treasury issues and transactions by foreign official agencies, net foreign purchases (-J-), balance of payments basis (table 1, line 69, or lines 5-j~12 below)
304
—730
—130
—600
—389
.
-98
-65
—1 006
—302
—704
1,149
_ . _ . _
-177
-114
—3,330
—675
—2, 655
-1,045
—60
—7
..
—140
—200
—200
..
27
28
29
30
Bl
.
Bonds:
Treasury basis net *
Adjustments:
Plus additional Canadian redemptions 2
Plus other adjustments
21
22
23
24
25
26
..
Newly issued in the United States
Of which Canada .
15
16
18
19
20
..
__
—60
—36
—153
-81
—399
-234
—123
100
3
133
—156
480
5 384
2 435
468
241
5 S57
2 168
A07
75A
91
—1 094
167
91
—61
—716
150
301
15
161
255
289
—44
—76
86
38
76
71
—66
—43
1 883
1, 190
445
—28
276
222
-48
217
•—993
1,252
—1 040
1,500
—1 296
1 264
—907
2,068
—1 310
1,474
—851
212
272
204
100
357
758
200
623
100
133
Stocks:
2
Treasury basis net l
3
4
Adjustments:
Plus exchange of stock associated with U.S. direct investment abroad..
Plus other adjustments *
5
6
7
g
9
Balance of payments basis, net
Western Europe.
Canada
Japan
Other •
__
4 172
3,074
774
—155
479
1 996
1,519
27
1 696
1,305
-52
2,827
1,658
740
190
239
Bonds:
10
11
Treasury basis, net *_
Adjustments 4
12
13
14
Balance of payments basis, net
-. - -.
..
New issues sold abroad by U S corporations
Investments by international financial institutions 3 in nonguaranteed bonds of U.S. federally
sponsored agencies -_... ._ .
Other transactions in U.S. bonds
15
16
_ _ _
Of which United Kingdom
See footnotes on page 57.
_
_ _
5.4A8
-4m
1,212
372
439
-13
853
155
284
-205
145
12
91
25
332
1
557
22
501
392
195
—86
120
168
122
127
SURVEY OF CURRENT BUSINESS
September 1981
55
Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Line
Al
2
3
(Credits (+); increase in U.S. liabilities or decrease in U.S. assets. Debits (— ); decrease in U.S.
liabilities or increase in U.S. assets.)
Claims, total
Long-term (table 1, line 52)
Short-term (table 1 line 53)
_
4
5
6
7
g
9
10
11
12
13
Financial claims
_
Denominated in U S. dollars
Denominated in foreign currencies
B y area: Industrial countries *
Of which United Kingdom
Canada
Caribbean banking centers 2
Other
__
By type' Deposits
Other claims
14
15
16
17
18
19
20
21
Commercial claims
Denominated in U.S. dollars
Denominated in foreign currencies.
By area: Industrial countries l 3
Oil-exporting countries
Other
_ _
By type: Trade receivables
Other claims
Bl
2
3
Liabilities, total
Long-term (table 1, line 70).
Short-term (table 1, line 71)
_ _
-
_
11
12
13
14
15
16
17
18
Commercial liabilities
_ _
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries * 3
_
Oil-exporting countries
Other
By type: Trade payables
Other liabilities
392
—1 475
-840
—1, 121
— 1 280
306
199
114
—1 124
-22
—729
—111
_
_.
_
—1 808
-10
._
_ _
_
._ _
_
-
343
-328
159
180
274
—70
—1 355
54
—1 093
-3, 192
457
588
—2 462
—3 780
—719
-2,479
— 2 457
— 1 187
418
-138
—319
106
—702
—1 538
34
—1 496
— 1 322
—198
121
381
517
—1 038
—2 525
—234
318
46
38
—626
—608
60
—1 285
—1 289
—713
-730
—28
—683
— 103
—527
—1 267
—635
82
6
3 548
483
509
-26
191
196
264
28
498
126
872
632
215
—20
1,458
108
736
49
—6
17
51
9
—235
009
—578
—48
395
4
73
—18
78
373
456
—83
3 228
— 13
3 241
—820
24
2 543
2' 816
104
-80
227
863
191
357
—166
—81
1 229
1 249
—114
65
121
151
594
349
685
—1 Oil
150
307
383
605
686
68
838
H
151
277
166
127
467
—117
—2
—242
175
879
590
95
—108
—303
289
60
—140
825
n.a
21, 760
na
na
—1 683
90
—19
146
37, 248
5,536
31 712
na
na
na
na
na
na
na
na
—650
-68
— 103
—67
—11
—56
52
1 561
62
-2
—18
—68
n.a.
n.a.
na
na
na
na
na
na
na
na
na
na
—22
—167
1 092
*697
999
562
190
309
—27
291
—2. 005
II
—28
416
-86
502
1,072
—247
oOl
—218
74
—65
105
642
1
885
5 109
1,054
4 055
125
283
717
—12
1 949
1,380
1 474
671
7A1
—24
64
—44
18
_7
45
-685
—313
—815
— 1 801
8,055
498
...
92
696
IP
IV
-604
-1,083
-83
1,175
885
III
II
—2 570
— 1 813
___
Financial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 1
Of which United Kingdom
Caribbean banking centers 2 _
Other
-2, 653
_ _ _ _ _
_
4
5
6
7
8
9
10
I
Amounts
outstanding
March
31, 1981
19i*1
1980
1980
-108
— 968
—48
—479
—537
5
—546
—465
19 816
2 444
12 527
4,856
6 281
7 241
1 992
15 980
5 780
15 488
15 010
478
8,539
1 870
5 079
14 506
*982
27 645
5,629
22 016
na
na
na
na
na
na
na
11 206
8 600
2 606
7 740
3,650
2 537
na
na
na
na
na
na
na
na
16 439
929
15 661
888
5 403
8 690
2 346
11 090
5 349
See footnotes on page 57.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
19 30
Line
(Credits (+); decrease in U.S. assets. Debits (-); increase in II, S. assets.)
I
1 Total (table 1, lines 54 & 55)
By area:
Industrial countries ^
- 3
Of which United Kingdom2
4
Caribbean banking centers
5
Oil-exporting countries 3
6
Other
7
Of which Latin American countries
Asian countries
8
9
African countries
2
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
- -
By type;
Payable in dollars
Banks' claims for own account
On own foreign offices
Of U S -owned banks
Of foreign-owned banks in the United States
On foreign public borrowers 4
On other foreign banks
_
Of which deposits
On other foreigners
-Banks' claims for domestic customers' accounts
Deposits
Negotiable and readily transferable instruments
Collections outstanding and other claims
Payable in foreign courrencies
Banks' claims for own account
Of which deposits
- Banks' claims for domestic customers' accounts
Of which deposits
-
-
-
._
-20, 165
-12,440
—13,139
-11,241
—9, 186
—5 616
—6 910
—8, 450
—3 592
—4 462
21
—3 283
—1 541
—2 803
—1 318
—5, 735
—4, 580
—820
—103
1 606
3 110
—8 770
—1,059
-4,217
-2, 903
— 1,199
—131
-44, 777
-38, 759
— 17,656
-12,789
—4, 867
-5,006
-9,288
-1,979
-6,809
—6, 018
-371
2,126
1 399
2,012
—613
-20, 324
—17,749
—10 241
—7, 176
—3 065
—357
-4, 302
—1,020
—2, 849
—2, 575
-12, 313
—11,982
—5 610
—6, 254
-11, 769
—11 154
—3 204
—1 371
—1 833
— 1 633
-4, 253
—1 042
-2, 064
—615
-11, 782
—6 833
—9 576
—6, 754
—2 822
197
38
-3, 879
-1, 108
- - ~
-
71
-
_
- -
.
-2, 474
—3, 615
-2,170
-1,787
-1,513
-383
-474
Memoranda:
Claims on foreign public borrowers (incl. in line 15 above):
28
29
30
31
32
Short-term
Claims on all other foreigners (incl. in lines 16+18 above) :
Long-term
- Short-term
-U S banks' dollar acceptances payable by foreigners
See footnotes on page 57.
- -- ----
-
-
-
Amounts
outstanding
June 30,
1981
- -
UP
I'
-1,203
- -
IV
-3, 439
1,235
1,638
.'
—-
III
—14,302
—2 812
— 16 845
—1,746
-14,054
-8, 870
—4,408
—303
-
_
II
._._ —46,947
-
_
19 SI
1980
-
-1,781
-2, 803
-1,382
-14,709
-4, 694
373
225
518
110
79
1, 379
772
-731
-2, 497
-253
-1,663
-581
-832
-353
-218
—479
-370
-222
421
-91
622
—2, 123
258
-4, 327
-1,905
—2, 499
298
644
—3,095
-2, 112
—689
-1, 165
—331
-171
2,184
-2, 344
-127
-329
—90
122
261
338
-79
202
91
—313
—499
-1,370
—1,003
-1,338
-367
-533
-80
-1,050
-1,709
-429
-1,101
-419
-2, 585
-1,058
-972
-5, 332
-2, 682
— 191
159
-102
-414
100
-7, 414
-2, 232
719
—73
1,744
549
953
45
109
3, 713
991
-1, 079
—4, 949
541
23
809
518
581
-39
-456
428
2,418
—1, 730
—14,063
—7 819
—3 944
— 1 368
—58
—4, 818
—1,836
—2 885
231
—14, 938
—12 844
—2 774
792
—3 566
— 1 951
—6, 791
—2 624
-1,328
—2 094
233, 273
100 321
35 428
53 093
10 630
69, 229
45, 945
19 427
1 199
229, 458
195, 695
78 791
44, 853
33 938
22, 978
54, 895
10, 829
39, 031
33, 763
109
743
-3, 449
1 246
-109
23, 514
9,506
3,815
3,467
1,867
97
61
348
39
-782
-1,394
11, 025
12,024
-778
-7,073
-2, 862
14, 411
79,078
27, 315
875
778
SUEVEY OF CUEKENT BUSINESS
56
September 1981
Table 9.—Foreign Official Assets in the United States and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
Line
Al
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
Bl
2
3
4
5
6
7
g
9
10
11
12
13
14
15
16
17
18
19
20
I
Foreign official assets in the United States, net (table 1, line 57)
By area: (see text table B)
By type:
U S Treasury securities (table 1, line 59)
Bills and certificates
»
Denominated in U S dollars
Denominated in foreign currencies
.
Bonds a n d notes, marketable
_______
__ ___
Bonds and notes, nonmarketable...
Denominated in U S dollars
Denominated in foreign currencies
Other U.S. Government securities (table 1, line 60)
Other U S Government liabilities (table 1, line 61)
U S liabilities reported by U.S. banks, not included elsewhere (table 1, line 62) .
Banks' liabilities for own account payable in dollars *
Demand deposits
Time deposits 1
-_Other
Banks' custody liabilities payable in dollars * 2
Other foreign official assets (table 1, line 63)
_
„__
Other foreign assets in the United States: U.S. Treasury securities and U.S. liabilities reported by
U S banks, not included elsewhere (table 1, lines 68, 72, and 73)
_ _
By area:
Industrial countries 3
Caribbean banking centers *
Oil-exporting countries '
Other countries
International financial instutitions8--.
-
-
-
By type:
Foreign commerical banks .
;
.
U S Treasury bills and certificates
U.S. liabilities reported by U.S. banks
- - Banks' liabilities for own account l
__
Payable in dollars
To own foreign offices
Of U.S.-owned banks .
Of foreign-owned banks in the United States
To other foreign banks
Demand deposits
Time deposits ' —
—_
Other
Payable in foreign currencies
_ _
Banks' custody liabilities, payable in dollars * 2 .
21
22
23
24
25
26
27
28
29
30
Internationalfinancialinstitutions '
U.S. Treasury securities
Bills and certificates
Bonds and notes marketable
U.S. liabilities reported by U.S. banks
Banks' liabilities for own account payable in dollars *
Demand deposits
Time deposits l
Other
_
,.
„
Banks' custody liabilities, payable in dollars 12
31
32
33
34
35
36
37
38
39
40
41
Other private foreign residents and unallocated
U.S. Treasury securities
Bills and certificates
Bonds and notes, marketable
Bonds and notes nonmarketable 7
U.S. liabilities reported by U.S. banks
Banks' liabilities for own account payable in dollars 2
Demand deposits
Time deposits -1
Other
Banks' custody liabilities, payable in dollars 12
42
1980
1980
(Credits (+); increase in foreign assets. Debits (-); decrease in foreign assets.)
Memoran dum :
Negotiable certificates of deposits held for foreigners 1
-- -
-
-
-_
-
— .,
-
_
-
-
___
_
•_
- -
_
T
_•
-
-
-
-
_ __
_
II
19 81
III
IV
I'
HP
Amounts
outstanding
June 30,
1981
15 492
—7 462
7 557
7 fi86
7 711
5 503
3 009
177 879
9 683
8 577
8 577
—5 357
—4 869
—4 869
4 360
3 110
3 110
3 769
3 454
3 454
6 911
6*882
6 882
7 242
4 249
4 249
—2 069
2 774
116 485
57 719
57 719
3,840
—2, 734
—2 734
116
—604
—604
2 080
—830
—830
1 015
—700
—700
629
—600
—600
3 353
—360
—360
1 797
—1 092
—1 092
45 564
13 202
13 202
2,187
636
—159
—466
-899
562
-129
307
3,145
801
—68
—3 198
—3 650
-870
—653
—2, 127
452
360
250
420
1 676
1 776
1,113
273
390
—100
851
549
80
1 823
2 048
—685
906
1 827
—225
1 465
587
205
—460
—640
-457
36
—219
180
469
454
—112
—2 910
1 626
—433
—692
—501
—1 284
829
13,422
9 899
—5 769
662
8 630
6,131
2,980
886
4,251
-826
7 455
1,787
49
151
457
—3 028
—4, 571
1,323
824
-317
830
2,047
—1,703
132
—644
9,902
200
9,702
8,960
7,158
4,854
-2, 751
7,605
2,304
904
36
1,364
1,802
742
7,361
253
7,108
6,591
6,115
5,083
4,773
310
1,032
112
-113
1,033
476
517
—5, 526
—82
—5,444
-5, 131
—5 459
—7,824
-8,784
960
2,365
1,524
-79
920
328
—313
—826
-688
153
-841
-138
—242
—113
-66
-63
104
457
1,086
55
1,031
-629
—307
-100
-66
-141
-322
4,346
3,167
92
1,907
1,168
1,179
1,174
268
921
—15
5
2,081
1,961
435
3;58
1 168
120
— 12
132
68
-212
132
—239
253
o 774
536
180
630
8 748
12 736
25*206
15 796
3,975
2 551
9 270
9 410
14 704
—2 484
9 492
145 092
874
3,717
1,217
3,144
r-322
2 355
—3,468
-605
-606
-160
2 746
4,855
72 740
31, 713
7, 266
26,802
6,571
996
—232
1,228
1,139
1,138
3,481
589
2 892
—2 343
—1,931
—67
—345
1
89
7,071
261
6,810
6,361
5,364
4,114
671
3 443
1,250
1,199
295
—244
997
449
-3,881
204
-4,085
-4, 292
—3, 807
—1,980
-21
—1 959
—1,827
—1,603
622
—846
—485
207
7, 581
—317
— 1,110
949
—2 059
793
461
—61
6
516
332
—644
—491
—790
299
—153
—359
42
9
—410
206
-322
-173
—61
—112
-149
—37
6
-15
-28
—112
—161
411
79
332
—572
—154
—20
—18
-116
—418
-75
-21
—44
23
-54
42
98
g
-64
—96
6,572
5,074
1289
4 785
1,498
74
-68
-231
163
310
469
107
362
1,881
805
-219
1,224
1,558
790
133
657
1,986
33, 369
11, 349
142
495
606
—279
168
—353
— 159
—292
—840
476
72
133
1,076
983
370
656
—43
93
768
1, Oil
—97
1 285
—177
-243
1,601
1,218
536
—1,044
16
—852
—2 286
—425
743
—387
—781
— 1 861
234
1,732
-75
337
7,244
7,113
7 511
8,238
4,896
3 342
—727
1,055
-642
—1 140
—398
131
385
105, 151
1,164
103, 987
96,965
94 130
74,944
27, 017
47 927
19 186
13,642
1,663
3 881
2 835
7,022
366
224
75
67
1 132
554
—136
521
75
1 255
—112
5,816
4 979
22, 020
18 510
5,345
12, 250
8
915
383
3,510
312
9, 750
See footnotes on page 57.
Footnotes to U.S. International Transactions Tables 1-10
General
notes for all tables:
r
Revised.
P Preliminary.
* Less than $500,000 (±).
n.a. Not available.
Table 1:
1. Credits, -f : exports of goods and services ; unilateral transfers to United
States; capital inflows (increase in foreign assets (U.S. liabilities) or decrease in U.S. assets) ; decrease in U.S. official reserve assets.
Debits, — : imports of goods and services ; unilateral transfers to foreigners ; capital outflows (decrease in foreign assets (U.S. liabilities) or increase in U.S. assets) ; increase in U.S. official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant
programs
(see line 16).
.J3-.5xcllldes exports of goods under U.S. Military agency sales contracts
identified in Census export documents, excludes imports of goods under direct
defense expenditures identified in Census import documents, and reflects
various other adjustments (for valuation, coverage, and timing) of Census
statistics to balance of payments basis ; see table 3.
4. For all areas, amounts outstanding June 30, 1981, were as follows in
millions of dollars: line 38, 29,582; line 39, 11,154; line 40, 3,689; line 41,
3,988 ; line 42, 10,751.
5. Includes sales of foreign obligations to foreigners.
6. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and notes.
7. Consists of U. S. Treasury and Export-Import Bank obligations, not
included elsewhere, and of debts securities of U.S. Government corporations
and agencies.
8. Includes, primarily, U.S. Government liabilities associated with military sales contracts and other transactions arranged with or through foreign
official agencies ; see table 4.
9. Consists of investment in U.S. corporate stocks and in debt securities of
private corporations and State and local governments.
m 10. Beginning with estimates for the second quarter of 1978, the distinction between short- and long-term liabilities is discontinued.
September 1981
SURVEY OF CURRENT BUSINESS
11. Conceptually, the sum of lines 79 and 74 is equal to 'net foreign investment" in the National Income and Product Accounts (NIPAs). However, the foreign transactions account in the NIPA's (a) includes adjustments to the international transactions accounts for the treatment of gold,
(b) excludes capital gains and losses of foreign affiliates of U.S. parent
companies from the NIPA's measure of income receipts from direct investment abroad, and from the corresponding income payments, and (c) beginning with 1973-IV, excludes shipments and financing of military orders
placed by Israel under Public Law 93-199 and subsequent similar legislation.
Line 77 differs from "net exports of goods and services" in the NIPA^ for
the same reasons with the exception of the military financing, which is excluded, and the additional exclusion of U.S. Government interest payments
to foreigners. The latter payments, for NIPA's purposes, are excluded from
"net exports of goods and services" but included with transfers in "net
foreign investment." A reconciliation table of the international accounts
and the NIPA's foreign transactions account appears in the Business Situation article in this issue of the SURVEY OF CURRENT BUSINESS.
12. The maturity breakdown is available only on the limited basis shown in
table 7.
13. The maturity breakdown is available only on the limited basis shown
in table 8.
.
^ A
14. Includes foreign currency denominated notes sold to private residents
abroad. See table 9, line 35, footnote 7.
Table 2:
For footnotes 1-14, see table 1.
Table 3:
1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of
exportation; imports, Census basis, represent transaction values, f.a.s. foreign port of exportation. The unadjusted figures for exports and imports
shown in lines Al, A10, Dl, and D56, are as published by the Census Bureau,
as are the seasonally adjusted figures in lines Al and A10; Census data are
adjusted to include trade between the U.S. Virgin Islands and foreign countries. The seasonally adjusted figures in lines Dl and D56 are prepared by
BEA and represent the summation of seasonally adjusted 4-digit end-use
categories (see Technical Notes in the June 1980 SURVEY) .
2. Beginning in 1970, adjustments in lines A5, A12, B9, B26, and B43
reflect the Census Bureau's reconciliation of discrepancies in the merchandise
trade statistics published by the United States and the counterpart statistics
published in Canada. These adjustments also have been distributed to the
affected end-use categories in section C.
3. Exports of military equipment under U.S. military agency sales contracts
with foreign governments (line A6), and direct imports by the Department
of Defense and the Coast Guard (line A13), to the extent such trade is
identifiable from Customs declarations. These exports are included in tables
1, 2; and 10, line 3 (transfers under U.S. military agency sales contracts) ;
and the imports are included in tables 1, 2, and 10, line 19 (direct defense
expenditures).
4. Addition of electrical energy; deduction of exposed motion picture film
for rental rather than sale; net change in stock of U.S.-owned grains in
storage in Canada; net timing adjustments for goods recorded in Census
data in one period but found to have been shipped in another; and coverage
adjustments for special situations in which shipments were omitted from
Census data.
5. Correction for discrepancy between sum of four quarters, seasonally
adjusted, and the unadjusted annual totals, plus the difference between
Census published seasonally adjusted totals and the summation of seasonally adjusted 4-digit end-use categories.
6. Addition of electrical energy; deduction of foreign charges for repair of
U.S. vessels abroad, which are included in tables 1, 2, and 10, line 22 (other
transportation); net timing adjustments for goods recorded in Census data
in one period but found to have been shipped in another; and coverage adjustments for special situations in which shipments were omitted from
Census data.
7. Annual and unadjusted quarterly data shown in this table correspond
to country and area data in table 10, lines 2 and 18, except that imports
from international organizations, namely, purchases of nonmonetary gold
from the IMF, are included in data for other countries in Asia and Africa.
The memorandum items are defined as follows: Industrial countries: Western
Europe, Canada, Japan, and Australia, New Zealand, and South Africa:
members of OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia,
Qatar, United Arab Emirates, Indonesia, Algeria, Libya, Nigeria, Gabon;
Other countries: Latin American Republics. Other Western Hemisphere, and
Other countries in Asia and Africa, less OPEC and the IMF. Beginning in
1981, EC (9) becomes EC (10), including Greece.
8. The statistical identification of automotive products exports to Canada
(line D43) is not as complete and comprehensive as the identification of imports under the U.S.-Canada Automotive Products Trade Act. However, the
underestimation of automotive shipments to Canada due to unidentified auto
parts and unreported exports, amounting to about $1,562 million in 1980,
has been largely corrected in line C19.
9. Includes nuclear fuel materials and fuels.
Table 4:
1. Expenditures to release Israel from its contractual liability to pay for defense articles and services purchased through military sales contracts—authorized under Public Law 93-199 and subsequent similar legislation—are included
in line A3. Deliveries against these military sales contracts are included in line
CIO: see footnote 2. Of the line A3 items, part of the military expenditures is
applied in lines A38 and A41 to reduce short-term assets previously recorded in
lines A36 and C8; this application of funds is excluded from lines C3 and C4. A
second part of line A3 expenditures finances future deliveries under military
sales contracts and is applied directly to lines A37 and C9. A third portion of
line A3, disbursed directly to finance purchases by Israel and other countries
from commercial suppliers, is included in line A32.
2. Transactions under military sales contracts are those in which the Department of Defense sells and transfers military goods and services to a foreign purchaser, on a cash or credit basis. Purchases by foreigners directly from
commercial suppliers are not included as transactions under military sales contracts. The entries for the several categories of transactions related to military
sales contracts in this and other tables are partially estimated from incomplete data.
57
3. The identification of transactions involving direct dollar outflows from
the United States is made in reports by each operating agency. Data for the
second quarter 1981 are extrapolated estimates by BEA, because of incomplete
reports from one operating agency.
4. Line A33 includes foreign currency collected as interest and lines ASS
and B2 include foreign currency collected as principal, as recorded in lines A13
and A14 respectively.
5. Includes (a) advance payments of the Department of Defense (on military sales contracts) financed by loans extended to foreigners by U.S. Government agencies and (b) the counter value of the part of line CIO which was delivered without prepayment by the foreign purchaser. Also, includes expenditures of appropriations available to release foreign purchasers from liability
to make repayment.
6. Excludes liabilities associated with military sales contracts financed by
U.S. Government grants and credits and included in line C2.
Table 5:
1. Acquisition of capital stock of existing and newly established companies,
capitalization of intercompany accounts, and other equity contributions.
2. Sales and liquidations of capital stock and other equity holdings, total
and partial.
3. Petroleum includes the exploration, development and production of crude
oil and gas and the transportation, refining and marketing of petroleum products exclusive of petrochemicals. Manufacturing excludes petroleum refining
and the smelting operations of mining companies. "Other" industries includes
Industries other than petroleum and manufacturing, the major ones being
agriculture, mining and smelting, public utilities, transportation, trade, insurance, finance and services.
Table 6:
1. As published in Treasury Bulletin. Treasury data are based on transactions by foreigners reported by banks and brokers in the United States; net
purchases by foreigners ( + ) correspond to net U.S. sales ( + ) .
2. Redemptions consist of scheduled retirements and identifiable premature
retirements of U.S.-held foreign debt securities, and estimates for redemptions
of Canadian issues held by U.S. residents based on Canadian statistics. Unidentifiable nonscheduled retirements appear in line 31.
3. Consists of International Bank for Reconstruction and Development
(IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American Development Bank (IDE).
4. Mainly reflects exclusion of investments by foreign official agencies in
U.S. corporate stocks and in debt securities of U.S. Government corporations
and agencies, private corporations and State and local governments. These investments are included in table 1, lines 60 and 63.
Table 7:
1. Consists of Western Europe, Canada, Japan, Australia, New Zealand,
and South Africa.
2. Mainly in the Bahamas and Cayman Islands.
3. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and
African oil-exporting countries.
Table 8:
1. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and
South Africa.
2. Mainly in the Bahamas and Cayman Islands.
3. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting countries.
4. Includes central governments (central banks, departments, and agencies),
state, provincial and local governments, and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued to foreigners by U.S. banks are
included with U.S. banks' custody liabilities, and are shown in the
memorandum.
2. Mainly negotiable and readily transferable instruments; excludes U.S.
Treasury securities.
3. Consists of Western Europe, Canada, Japan, Australia, New Zealand,
and South Africa.
4. Mainly in the Bahamas and Cayman Islands.
5. Based on data for Ecuador, Venezuela. Indonesia, and other Asian and
African oil-exporting
countries.
/rS'T>^iniy tne International Bank for Reconstruction and Development
(IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), Inter-American
Development Bank (IDE), and the Trust Fund of the International Monetary Fund.
^' c£n£jists of U.S. Treasury notes denominated in foreign currencies, sold
tnrough foreign central banks to domestic residents in country of issue;
notes are subject to restricted transferability.
8. Valuation of foreign currency indebtedness based on market exchange
rates at end of month.
Table 10:
For footnotes 1-9, see table 1.
10. See footnote 11 to table 1.
11. The "European Communities (9)" includes the "European Communities (6),' the United Kingdom, Denmark and Ireland. "European Communities (10)" reflects the admission of Greece in 1981.
12. The "European Communities (6)*' includes Belgium, France, Germany,
Italy, Luxembourg, the Netherlands, the European Atomic Energy Community, the European Coal and Steel Community, and the European Investment
Bank.
13. Includes transactions with U.S. affiliated shipping companies operating
under the flags of Honduras, Liberia, and Panama, and U.S. affiliated multinational trading companies, finance, and insurance companies, not designated
by country.
14. See footnote 12 to table 1.
15. See footnote 13 to table 1.
16. Details not shown separately ; see totals in lines 57 and 64.
17. Details not shown separately are included in combined lines 72 and 73.
SUEVEY OF CUKKENT BUSINESS
58
September 1981
Table 10.—U.S. International
[Millions
Western Europe
(Credits +; debits -) »
Line
1980
1980
I
1
2
3
4
5
6
7
8
9
10
Merchandise adjusted, excluding military 3
Transfers under U S military agency sales contracts
:
Fees and royalties from affiliafed foreigners
Fees and royalties from unaffiliated foreigners
'.
Receipts of income on U.S. assets abroad:
11
12
13
14
15
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
16
Transfers of goods and services under U.S. military grant programs, net
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
Merchandise adjusted excluding military 3
Direct defense expenditures
Travel
- —-
-
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
-
U S Government Davments for miscellaneous services
Payments of income on foreign assets in the United States:
Interest dividends and earnings of unincorporated affiliates
Reinvested earnings of incorporated affiliates
i._
34
35
36
37
38
39
40
41
42
24,570
15,100
767
661
393
943
778
118
301
28
26,111
16,374
579
434
198
914
840
119
314
20
26,576
17, 121
546
355
208
973
728
120
323
23
26,755
16,592
630
600
323
1,044
714
121
330
22
16,078
8,257
7,821
8,958
629
5,553
2,108
3,444
2,144
140
3,597
2,201
1,396
2,299
129
3, 277
1,687
1,591
2,073
133
3,652
2,261
1,391
2,442
227
2,990
1,366
1,624
2,876
313
2,923
2,075
848
3,137
319
25
26
103
14
37
14
38
-21,814
-12,331
-1,604
-358
-508
-837
-135
-51
-256
-106
-22,011
-11,898
-1,461
-928
-879
-856
-155
-51
-266
-118
-21,497
-11, 654
-1,573
-1,196
-777
-841
-145
-52
-276
-123
-21,632
-11,372
-1,771
-539
-518
-849
-165
-53
-228
-124
-5,622
-2,223
-3,400
-9,483
-6,799
-1,323
-431
-892
-2,504
-1,802
-1,430
-760
-670
-2,348
-1,622
-1,345
-512
-833
-1,918
-1,597
-1,524
-520
-1,005
-2, 713
-1,778
-1,314
-593
-721
-2,899
-1,985
-1,316
-570
-746
-2,940
-1,,975
-38
-25
-26
-14
-37
-14
-96
-1
31
59
-281
-560
745
-59
-137
195
-14
-138
183
-4
-143
206
-28,049
-6, 139
-4,674
-1,880
-9,351
550
43
44
45
46
-6, 139
-1, 880
550
-665
-1, 752
1,102
-15
-110
-361
211
40
-177
-438
283
-22
47
48
49
50
51
-21,245
-12,784
-4, 962
-7, 821
-1, 228
-2,684
-3,605
-161
—3,444
-116
-9, 723
-2, 077
-681
-1, 396
-787
55
-1,857
-266
—1, 591
-261
52
53
} " -476
11454
M —62
}is-6,758
15584 13 -6, 797
_
U S Government grants (excluding military grants of goods and services)
U.s! Government pensions and other transfers.
-
1--
._..
--
--
U S Government assets other than official reserve assets net
Repayments on U S loans5
,
U S foreign currency holdings and U S short-term assets, net
"
'.
Reinvested earnings of incorporated affiliates
- ---
--
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
56
70
71
72
73
48
14
-204
-143
161
-7
-144
199
-27
-144
185
-13,413
-4,291
-8,688
-2,384"
-7,229
-83
-517
-4,291
-2,384
-83
-150
-332
215
-33
-229
-621
393
(*)
-53
-331
231
47
-274
-323
257
-208
-8,893
-5, 245
-3,854
—1,391
-64
-6, 251
56
1,680
-1, 624
-179
-6,872
-2,370
-1, 522
-848
-265
14277 '4 -1, 145
" -338
n.a.
-612
-517
U.S. claims reported by U.S. banks, not included elsewhere:
54
55
57
58
59
60
61
62
63
64
65
66
67
68
69
-185
-22,943 -24,915
-12,586 -13,301
-1,496
-1, 731
-400
-1,001
-744
-1,085
-852
-939
-220
-123
-54
-54
-290
-297
-103*
-153
-
Reserve position in the International Monetary Fund -
Direct investment
II P
27,429
17,868
588
541
272
1,003
715
116
283
17
-103
US assets abroad net (increase/capital outflow ( — ) ) .
U S official reserve assets net*
Gold
-
I' ,
-86,955
-47,255
-6,408
-3,021
-2,682
-3,383
-599
-207
-1,026
-471
- - --
Unilateral transfers (excluding military grants of goods and services), net
IV
29,202
18,261
586
306
171
889
751
115
263
23
32
33
III
107,312
67,603
2,521
1,942
1,034
3,749
3,083
468
1,160
88
-
•
II
1981
Foreign assets in the United States net (increase/capital inflow (+) )
.
Foreign official assets in the United States net
--
U S Treasury
securities8
Other7
Other U S Government liabilities8
- U S liabilities reported by 9U S banks not included elsewhere
Other foreign official assets
.
Other foreign assets in the United States, net...
--
--
9,904
-____-
-4,400
-
-
--
|
-
,
Equity and intercompany accounts
- -. .
Reinvested earnings of incorporated affiliates
U S Treasury securities
.
U S securities other than U S Treasury securities
.
U '.8. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
Short-term
.
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
Short-term
-
74
75
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed) _.
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18)10
Balance on goods and services (lines 1 and 17)
Balance on goods services and remittances l(lines 77, 35, and 36)
Balance on current account (lines 77 and 33) °
See footnotes on page 57.
(16)
} " 2, 262
}
-
^
-
(16)
-95
(16)
7,605
1,446
554
892
(16)
-1, 947
(16)
542
9,675
3,706
-3,327
1,378
4,751
-1, 579
-8, 794
(16)
(16)
(16)
(16)
-153
(16)
2,611
2,871
2,201
670
(16)
1, 674
600
i<328
1*958
-235
35
99
(18)
(16)
-836
949
116
833
4,924
733
-272
1,005
5,285
1,482
761
721
5,466
1,647
901
746
149
1,493
1,924
2,189
-2
"978
14 -720
n.a.
(16)
14
(lfi)
-2,116
-1,736
3,238
-3,062
20, 348
20,357
20,543
20,261
5,930
7,387
7,445
7,386
5,970
5,418
5,463
5,449
3,446
3,073
3,137
3,132
(16)
126
(16)
(16)
(>•)
-..
'
-357
(16)
14,304
5,999
2,599
3,400
3,916
- _ .
}
(16)
664
-977
-8,582
151,895 is -2, 440 is -5, 790 si-4,237
(16)
(16)
(16)
(16)
(16)
(16)
-556
1,302
8,704
5,002
4,479
4,498
4,294
4,535
3,632
3,687
3,681
3,291
1,839
1,880
1,853
(16)
SURVEY OF CUEEENT BUSINESS
September 1981
59
Transactions, by Area
of dollars]
European Communities (9) n
EC (10) 11
1980
1980
1981
1980
1980
I
II
III
IV
I'
II*
European Communities (6) t2
United Kingdom
1981
I
II
III
IV
I'
1980
1980
I
II"
84,780
53,466
1,788
1,506
823
2,684
AA 2,687
386
855
66
23,177
14,266
471
232
140
636
672
94
191
17
21,68
14,291
401
428
218
725
618
96
207
13
19,517
12,071
509
524
314
677
667
97
222
20
20,406
12,838
408
322
152
646
730
99
236
17
21,128
13, 732
354
271
173
720
648
100
250
19
21,348
13,377
419
476
274
779
624
101
260
15
26,447
12,818
306
469
315
847
765
106
341
43
6,781
3,254
60
76
56
197
176
26
73
11
7, 121
3,746
90
135
85
242
200
26
83
10
6,055
2,737
74
148
109
211
189
27
90
15
6,491
3,081
82
110
65
196
201
28
95
8
6,709
7,238
3,279 -3,321
61
63
150
90
69
136
214
230
186
187
29
28
98
97
I
12
12,920
6,826
6,094
7,396
202
i
4,656
1,741
2,915
1,773
29
2,741
1,817
924
1,904
40
•
2,662
1,455
1,207
1,725
30
2,861
1,813
1,049
1,995
103
2,266
954
1,311
2,375
223
2,239
1,651
588
2,577
206
5,495
3,043
2,452
4,852
90
1,680
565
1,115
1,167
5
1,228
666
562
1,272
6
1,289
557
733
1,159
'
1,298
1,256
43
1,255
72
1,212
478
735
1,451
8
-1
7
1,385
576
809
1,623
12
II
Line
1981
III
IV
I'
II*
13,00
9,37
27
30
124
43
41
6
14
55,272
38,955
1,217
980
465
1,56
1,786
269
480
21
15,592
10,565
340
14o
77
37
468
67
112
6
13,85
10,12
27
27
11
41
3Sb
6
11
12,67
8,94
340
36
19
39
43
6
12
13,15
9,32
26
20
7
38
49
68
12
13,33
9,81
22
16
9
400
433
6
13
6,931
3,712
3,219
2,500
107
__j
2,824
1,159
1,666
594
23
1,42
1,115
308
620
32
1,23
88
35
556
2
1,449
55
89
72
29
919
43
48
88
19
1
2
3
4
5
6
7
8
9
10
76
1,03
-27
91
17
11
12
13
14
15
8
(*)
(*)
(*)
(*)
(*)
-66,630 -16,488 -17,119 -16,432 -16,592 -17,816 -19,721 -20,334 -4,754 -5, 174 -5,109 -5,298 -5,788 -6,580 -44,419 -11,289 -11,472 -10,833 -10,825 -11, 28 -12, 24
-36,097 -9,346 -9,207 -8,801 -8,743 -9,592 -10,518 -9,848 -2,425 -2,300 -2,562 -2,561 -2,821 -3,260 -25, 112 -6,639 -6,633 -5,976 -5,864 -6,360 -6,84
-4, 525 -1,089 -1,071 -1, 193 -1,172 -1,379 -1,402
-163
-687
-166
-186
-172
-906
-224
-225 -3, 784
-895
-994
-98
-989 -1,06
-2, 259
-733
-332
-240
-875
-411
-322
-311
-831
-903
-69
-122
-180
-358 -1,204
-160
-358
-468
-218
-15
-38
-362
-653
-1,990
-580
-395
-551
-810
-824
-153
-269
-238
-164
-340 -1,040
-344
-209
-186
-305
-205
-27
-420
-2,407
-589
-609
-605
-202
-210
-605
-626
-691
-209
-839
-219
-214
-237 -1,292
-313
-327
-322
-32
-330
-36
-451
-97
-116
-114
-23
-125
-188
-104
-30
-91
-16
-102
-36
-39
-323
-75
-86
-82
-79
-4
-8
-44
-176
-43
-44
-82
-21
-21
-45
-46
-20
-20
-45
-92
-22
-20
-20
-23
-24
-2
-23
-24
-226
-866
-217
-236
-188
-254
-121
-261
-131
-139
-476
-85
-146
-92
-93
-145
-376
-94
-97
-10
-10
-282
-63
-68
-72
-112
-64
-14
-10
-13
—4'
-79
-46
-11
-9
-15
-228
-56
-68
-57
-8
-46
17
18
19
20
21
22
23
24
25
26
(*)
-5, 249 -1, 185 -1,376 -1, 229 -1,459 -1,156 -1,233 -1,291
-386
-188
-660
-1,876
-363
-408
-482
-590
-218
-446
-491
-87
-821 -1,013
-3,373
-823
-716
-665
-751
-168
-701
-101
-6,614 -1,777 -1,664 -1,307 -1,866 -1,998 -2,087 -4,154 -1, 119 -1,076
-5,715 -1,480 -1,352 -1,377 -1,506 -1,652 -1,639 -1,081
-253
-261
1
572
-7
-386
964
1
146
g
-96
246
1
-7
-8
(*)
141
165
120
109
110
293
72
76
-1
-97
238
(*)
-96
262
(*)
-97
218
-112
221
-2
-98
209
-61
355
-15
87
-15
91
(*)
-22, 803 -3,525 -7,994
-5,160 —1,651
269
-60 -11, 224 -7,422 ~6,870 -7,470
—846
—117 —3, 661 —2, 179
(*)
243 -6,740
16
-334
-384
-269 -3,951
-316
-997
-990
-894 -1,071
-84
-96
-127
-159
-154
-116 -1, 281
-442
-274
-280
-285
-36
-336
-207
-162
-153 -2, 670
-225
-722
-548
-614
-786
-505
-59
-791 -1, 168 -1,280 -1,364 -2,418
-642
-579
-509
-688
-691
-69
-265
-301
-324
-307 -4,599 -1,209 -1,090 -1,104 -1, 196 -1,318 -1,32
.
1
(*)
(*)
(*)
84
84
62
83
86
328
76
95
72
6
86
,
*
5
(*)
(*)
-16
-Ie -16 -16 -294 -74 -75
-73
-73
-7
100
78
100
152
164
100
629
16$
145
14
159
27
28
29
30
31
32
33
34
35
36
2,052 -3,025 -3,388 -5,442 -14,694 -3,527 -1,183 -1,972 -8,013 -3,884 -1,30
—5, 160 —1,651
269
—117 —3, 66! —2"» 180
—84
(*)
ipU
—84
37
38
39
40
41
42
35
20
-133
-47
40
—126
43
44
45
46
2,092 -3,065 -3,401 -5,425 -9,405 -1,941 -1,373 -1,822 -4,269 -1,699
334 -6, 652
-17,325 -1,848 -8, 106
131 -7,501 -5, 265 -5,838 -7, 292
-10,609 -2,996 -1, 498 -1,640 -4,475
526 -2,014 -4,581 -1, 363
-696 -1,082 -1,440
500 -1,547 -5, 443 -1,498
-680
-468 -2,797
197
-350 -1,397
-738 -2,224
-574
-248
-433 -3,427
-135
-372
-4,515
-81
1,837 -1,426 -2, 129
168
1,235
-118 -i;902
685
-924 -1,207 -1,049 -1,311
-562
-6,094 -2,915
-733
-809 -3,219 -1,666
-43
-588 -2,452 -1, 115
-308
-735
-350
-895
-488
-1,002
66
-568
-222
-165
-240
-76
206
-291
174
-912
-107
-87
-314
-278
-71
-252
-150
-69
-72
-327
-523
-797
274
-31
47
48
49
50
51
"135
n.a. I(
52
53
1,858 5-1,885 s-5,395 s-3,754 5-2,812 is 1, 235 s-5,616 " 3,110 5-1,541 s-3,522 5-3,944 5-2,537 is -329 « -559 15-1,212 is —437 15-1,959
f
15227 \
54
55
—5,160 —1, 651
-318
-676
332
27
"-323
15-5,391
6,791
' (17)
:
-26
-108
41
41
"473
269
-157
-225
81
—14
(17)
-551
(17)
-55
-206
o)
C17)
(17)
5,427
2,054
3,373
(17)
3,542
1,334
511
823
2,569
1,853
716
1,124
666
"207
"839
i
i "1,750
(17)
15
869
(17)
-488
7
-73
-115
42
—3, 661 —2, 179
-62
-229
167
23
-120
107
35
" 106 "152 4-l,054 " -174
is 782 *-6,146
1,543
-117
(17)
-150
4,930
(17)
—846
-185
-128
104
-161
n.a.
4,405 -2,437
(17)
(17)
94
-77
-10
17,369
18, 150
18,729
18,722
4,920
6,689
6,839
6,834
"177
5,797
(17)
-91
-96
6
-2
"256
4,494
30
-527
-54
-40
-50
11
-1
41
-83
124
471
1,359
(17)
(17)
(17)
(17)
(17)
(17)
1,152
487
665
1,473
722
751
1,551
850
701
-91
-192
101
1,366
1,198
168
545
1,208
1,647
1,931
2,999
1,001
403
709
-96
-321
225
(*)
886
" 1, 319
"118
"340
"3
(17)
" -13 w 717 " -360
(17)
n.a.
(17)
(17)
371
165
207
(17)
(17)
n.a.
(17)
5
(17)
-24
(17)
—5, 160 —1,651
269
66
(*)
25
41
-80
-115
58
-22
-130
-298
147
22
" -513
"199
"144
1,744 -2,399
(17)
-343
(17)
-6
(17)
-214
1
(17)
(")
(17)
224
71
153
3,846
1,176
2,670
1,424
702
722
1,209
662
548
1,029
933
542
123
265
"858 " -248
n.a.
"437
"81
"493
193
31
162
(17)
(17)
(17)
(17)
-40$
7,570 -4,732 -6,835
5,084
4,562
4,704
4,703
4,095
3,814
3,934
3,934
4,140
3,313
3,421
3,421
2,859
1,627
1,739
1,737
2,970
6,113
6,406
6,406
829
2,026
2,098
2,098
5,244 -a, 553
1,446
1,947
2,023
2,023
175
946
1,030
1,030
411 -1,420
5,781
1,768
458
922
1,005
1,005
61
659
743
743
13,843
10,853
11,188
11, 181
520
1,193
1,255
1,255
—117 —3, 661 —2, 181
-33
-65
29•_
(17)
-83
-118
35
"-73 " -783
498
(17)
"-43 173,436 7-2,582 17 -606 17 -291 "2,824 7-2,214 7-2,738 7-3,813 7-1,974
2,360
3,270
3,085
3,251
3, 251
(17)
(17)
-1
-4
__2
3,803 -1,082
1
-6
(17)
(17)
e
(17)
551
-462
1,013
(17)
13
-3
11
"229 " -259 "-229
C7)
3,842 -4,060
14-49
(17)
(17)
-29
-88
-109
18
3
973
152
821
(17)
w-3,440 w -915 7-4,570 « -486 172,531 171,873 7-5,831
-2,711 -4,853
(*)
-178
-337
159
(*)
-86
(17)
589
-25
614
(17)
-168
3,651
O7)
-el
623
-163
786
(17)
322
(17)
(17)
-43
(17)
56
658 -1,338
78
(17)
.
(*)
O7)
970
464
505
1,244
650
594
610
968
(17)
(17)
57
58
59
60
61
62
63
64
65
66
67
68
69
n.a.
70
71
17178 172,871 17 -868 7-3,550
72
73
" -15 14 -122 " -132
1,537 -1,266
-462
1,960
1,089
1,816
74
75
3,926
4,303
4,394
4,389
2,964
1,842
1,937
1,936
3,463
2,330
2,402
2,402
3,457
2,050
2,136
2,136
2,539
759
828
828
76
77
78
79
3,490
2,378
2,455
2,454
SURVEY OF CURKENT BUSINESS
60
September 1981
Table 10.—U.S. International
[Millions
Eastern Europe
(Credits +; debits -)i
Line
1980
1980
I
3
III
i>iu _.. -" -•
I'
II*
1,422
1,253
960
769
870
705
1,597
1,416
1,761
1,575
1,072
878
121
32
31
26
32
27
26
19
80
3
6
20
1
5
20
1
4
20
1
4
20
'(*)'
4
21
1
4
22
1
338
145
84
26
91
43
73
41
90
35
110
24
114
27
-1,659
-1,444
-2
-375
-334
(*)
-422
-346
-1
-29
-11
-20
-454
-396
-1
-18
-9
-18
-408
-368
-1
-7
-1
-19
-491
-450
•t
-2
-2
-20
-482
-400
-1
-30
-12
-21
-1
-2
-1
-2
-5
-1
-2
-6
-8
Transfers under U S military agency sales contracts .»
uwier bio. spu
IV
4,849
4,143
1
o
3
6
7
8
9
10
II
1981
r forpjgnp».s
Receipts of income on U.S. assets abroad;
11
12
13
14
15
KeinvesieQ earni g o
TT 0
^1
*
y
na'inlo
16
17
18
19
20
21
22
23
24
25
26
Travel
Passenger fares...
-—
U tner lla, »PU1 v
"«si~ Ia^\ fnro'cmore
iU
—
——
-
-58
-22
-77
-
-1
-20
-7
—8
-1
-2
-6
-21
(*)
-6
(*)
-5
(*)
-4
(*)
-6
(*)
-8
(*)
-8
33
-86
-21
-23
-20
-22
-25
-33
34
35
36
-21
-66
-4
-17
-5
-18
-6
-15
-6
-16
-5
-19
—6
-27
104
245
22
-22
-319
43
-88
120
12
124
-42
166
(*)
121
61
-16
77
(*)
57
-24
77
4
18
-17
32
-39
-79
-337
27
28
29
30
31
Private payments lor oiner services. . _
-2
-6
-26
coirrinoe
(*)
Payments of income on foreign assets in the United States:
r\^u **^*
*
* » P
corpo
-1
32
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
' •'
109
bpecj.ai qrawiiig rigiiia---- -------
±iepaymeni/s ou U.D. uwiifc
~n
t
t
jjirectt mvestmeru
V Tuv«i~~+a»-ir -csinri
. -___-_----..
^^^^ nocatc not
286
-188
457
17
58
-42
94
6
-177
-320
61
_ _ _ _ _ , . . - __
inquiry duo. intercom p<* y
/i~Qffiiiotoc
(*)
U.S. claims on unaffiliated foreigners reported by tf.S. nonbanking concerns :
Oh
-262
tt
1*76
«-22
1*6
1*114
14 —22
148
n.a.
[ is -253
15-298
"55
157
15-17
15-87
is -337
64
-71
82
6
47
-29
-18
|
"
(*)
U.S. claims reported by U.~S . banks, not included elsewhere:
9h rt fprm
U'rtMvlttm aeaaia In tho fTnitorl CttntpH net fincrP.RSP/canita.1 inflow (-H ")
J Y Q * JjfO»6rniIie t securiiie
--------
O7)
- -
7
Other
Other U S Government liabilities 8
U S liabilities reported by U S banks not included elsewhere
- -
Reinvested earnincs of incorporated affiliates
| O7)
-
-
U S securities other than U S Treasury securities
u!s.' liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Short-term.
U.S. liabilities reported by U.S. banks not included elsewhere:
} 14 -32
-
|
Short-term
74
75
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
76
77
78
79
Memoranda:
Balance on merchandise trade (lines 2 and 18)10
Balance on goods and services (lines 1 and 17)
Balance on goods, services and remittances (lines
77 35 and 36)
Balance on current account (lines 77 and 33) 17
See footnotes on page 57.
(17)
-
--
-
-
-/
(17)
O7)
(17)
(17)
(17)
(17)
(*)
(*)'
.(*)
(*)'
(*)
(*)
(17)
(17)
(17)
O7)
(17)
O7)
<17).
(17)
(17)
(17)
(17)
(17)
n.a.
14 _21
14-10
141
14 _2
1796
17-50
1702
175
1749
-3,276
-694
-700
-646
-1,236
-1, 196
-220
2,699
3,190
3, 103
3,103
919
1,048
1,027
1,027
423
537
514
514
309
416
396
396
1,048
1,189
1,167
1,167
1,125
1,271
1,246
1,246
478
590
557
557
143
17—32
17-18
SURVEY OF CURRENT BUSINESS
September 1981
61
Transactions, by Area—Continued
of dollars]
Latin American Republics and Other Western
Hemisphere
Canada
1981
1980
1980
I
II
III
IV
I'
14,2
10,2
14,7
10,7
13,4
9,7.
14,2
10, ft
14,97
11, lj
1980
1980
Japan
1981
I
II
III
IV
68,553
38,811
79
68 3,948
501
19( 1,467
2(
591
101
11
1,241
61
14,71
8,15(
71
9
33
1(
17,34
9,8]
17,14
9,8?
96
9
38
14e
29:
1
31
1
M*
18
37
IS
2
31c
19,355
10,96
1
1,09
12
36
21
2
32
1
19,87
10,76
1
88
11
38
15
2
33
1
20,70
11,31
1
1,165
14
40
16
2
31
1
6,850
3,504
3,34
14,53
36
1,53
82
71
3,344
8
1,91
1,08
83
3,57
8
1,65
78
87
3,22
109
1,74
81
92
4,39
9
1,629
73
89
5,463
9
1,260
709
55
5,79
8
I*
1980
. 1980
II*
Line
1981
I
II
III
IV
I'
29,07
20,806
12
77
44
1,51
41
35
15(
7,01
5,033
2
20
11
355
9
8
3
7,27
5,20
3
190
11
39
109
8
3
7,24
5,19
4
21
104
384
105
90
31
7,53
5,37
33
160
103
37
104
92
4(
8,29
5,600
86
225
128
394
109
94
42
8,040
5,204
10
200
14
41
14
9
4<
87
62
24
3,45
165
19
125
7
82
3
170
144
25
903
3
252
285
-34
773
54
250
70
180
952
42
298
179
119
1,259
6
30
45
25
1,35
2
11
12
13
14
15
(*)
(*)
(*)
-49, 17 -12,283 -11,258 -12,53 -13,10 -12,67 -14,02 -52,92 -14,00 -12,83 -12,28 -13,79 -14,87 -14,27 -37,75 -8,78 -9,678 -9,556 -9,740 -10,38 -11,57
-42,43 -11, 1< -9,9( -9,46 -11, 9C -11,41 -12,32 -37,52 -9,94 -9,21 -8,70 -9,65 -10,13 -9,65 -31, 21 -7,28 -7,984 -7,949 -7,997 -8,550 -9,41
t
E
-8
-125
-10
-7
-90
-13
-4
-206
-262
-96
-250
-39
-272
-249
-24
-94 -1,31
-1,81
-93 -1,07
-4!
-28
-22
-18
-2(
-885
-99
-3
'-64
-53
-51 -4,090 -1,13
-38
-39
-7
-8
-9
-5
-7
-90
-14
-9
-3
-45
-40
-31
-24
-4
-5
-28
-26
-63
-266
-16
-17
-24
-27
-498
—13e
-17
-13
-49
-17 -1,06
-29 -1,92
-471
-457
-459
-506
e
22
62
15
20
53
21
27
1
"
•
-41
-34
-34
-32
-36
-10
-106
-390
-383
—1ft
-10
-11
-2
-27
-113
-28
-11 -1,37
-2!
—3
-3
85
-6
-72
-36
-10
-2
16
56,6
41,3
2,4
-
7J
6
6(
47
7-
f
1
2
1
2
18
2
17
22
17
2J
5
1
1
1'
15J
ii
5,7
2,24
- «F
i,28e
1,54
64
90
1,1ft
1,5
4
1,09
1,20,
-1,79
-22
-1,56
-1,43
-19
-16
—4
-12
-37
-5
-17
-8
-8
-31
-5
-201
-32
-43
-19
-44
11
-4-
1,32
73
59
1,17
3&
89
1,17
-1,39
—7
-1,32
-30
-6
-2
1,07
504
56
1,41
If
17,15
12,98
1,33
44
88
1,48
-25
-22
-23
-297
-23
-207
-725
-1,004
-120
-10
-109
-103
-10
-90
-119
-440
-12
-11
-13
-194
-88
-13
-564
-636
-737
-6,646 -1,84 -1,522 -1,296 -1,987 -2,18 -2,466
-53
-39
-49
-69
-86
-75 -1,844
-209
-44
-46
-11
-5
-6
-49
-4
-61
-65
-39
-49 -1,180
-5J
-55
-10
-47
-45
-19
-4
-14
-54
-4
-16
-15J
-187
-400
-7,072 -3,120 -2,452
(*)
(*)
-775
(*)
-84
-50
-140
-80
-51
-151
-292
PI
-5<
-149
—332
-283
-265
-68
-106
-57
-169
-76
-51
-157
-71
-46
-148
-5!
-333
-11
-20
8
1
-6,981 -3,098 -2, 457
-3,860 -1,383 -1,618
-370
-713
-292
-905
-3,490 -1,092
-2,093
-566
-899
-764
-615
283
-898
-330
-22
-32
(
1
-63
-81
18
-51
-51
9
-8
11
-499
-21 -1,638
20 1,13€
11
-663 -2, 299 -2, 196 -31,405
-244
-302
108 -2, 655
264
351
998
691
-566
-889 -3,347
-595
-298
-29 -1,162
37
-79
-315
244
-45
-346
281
19
_ c
-209
-537
338
-10
-166
-439
273
1
-46
-320
275
-164
-440
283
-8
-202
49
50
-79
128
50
-21
-15
-22
-16
33
-21
-11
-1
-i;
-li
34
35
36
-209 -3,20.
-33
-2,39(
37
38
39
40
41
42
-24
-42
18
(*)
43
44
45
46
-194 -3,168 -2,353
331
-283
-130
511
-165
127
-180
-119
-257
-184
-306
-15
47
48
49
50
51
-33
14
18
14
19
(*)
(*)
791 -8, 963 -12,963 -10,271 -5, 764 -2, 702 -6, 958 -3,897 -1,879
-326
-556 -1,073
-404
-79
-700
-24
-763
260
132
-146
315
390
222
-331
-54
129
811
-871
-832
-74
-25
-716
-928
-892
-551
-246
143
-105
55
-141
-56
-166
39
59 -1,054
-347
i«240 «-239 5 -343 -1,142 5-26,697 -2,422 -8,707 s-12,360 5-8,052 5-4,030 s-3,021 5-6,051 15-3,233 5-1,687
6,571
1,624
1,056
2,663
1,228
-666
2,663
-298
(')
-231
(")
520
-248
-339
-100
-192
(16)
(18)
(16)
(*)
(18)
(16)
(10)
38
. 6,869
|3 2,600
^ 1,032
1,567
(")
909
"232
(18)
-6,762
-1,045
7, 463
7,262
7,262
(16)
22
(18j
(i«)
7
(18)
9
(16)
27
-567
364
303
61
536
232
146
86
2,911
1,418
96
1,323
362
-28
107
467
246
4-207
W-28
"25
"442
1*59
(18)
(18)
1,855
249
129
120
(19)
-473
-931
2,001
1,968
1,968
(18)
(18)
(18)
1,567
701
662
39
(18)
(18)
-2,031 -2,709 -1,549
888
3,469
3,426
3,426
255 -1,257
882
1,112
821
1,047
821
1,047
(18)
(16)
-4
(16)
2,855
326
178
148
(16)
764
-2,090 -1,448
8,226
2,617 -3,826
O7)
(17)
(17)
-6
-23
(17)
1,266
662
564
(17)
330
261
150
111
320
196
124
(17)
49
(17)
126
"1,507
"212
(i«)
175,186
i?2, 024
2,272
(17)
-5
-8
(17)
(17)
n.a.
"9 4-1,041
"390
(17)
237
101
136
(17)
-55
7,164 -1,987
(17)
(17)
-4,074
171,906
409
215
194
(17)
211
1^5,330
9,227 -3,759
8,601
6,338 -1,953
654
3,135
3,087
3,087
1,290 -1,789
704
15, 631
514
14,809
14,451
430
594
4,515
4,313
4,233
1,180
4,855
4,651
4,563
1,305
5,558
5,332
5,226
5,317
362
232
130
(17)
144
"278
"171 "-118
6,662
O7)
(17)
(17)
"-113 "-190 "1,218
7
n.a.
8
-4
O7)
747 -3,564
-262
2,308
2,269
2,269
4-1,010
56
225
(17)
(17)
298
210
88
(17)
146
726
90
636
(17)
-82
n.a.
7
"77
-467
"53
2,657
-989
128
94
34
-563
" 20
-200
-19
.-18
-260
-76
-36
-53
17
(*)
"216 " -262
32
52
53
n.a.
15-574 is -557 15-2,316 15-2,208 (
3,327
1,145
3,048
1,332
54
55
56
-65
-50
26
-42
57
58
59
60
61
118
| 62
63
O7)
[ 64
637
65
455
66
67
181
(17)
68
69
170
"-224
"28
"169
"76
n.a.
17-750 172,432
173, 135
17899
173,007
17407
72
73
74
75
(17)
-42
(17)
213
61
153
(17)
"104
(17)
(17)
215
(17)
299
126
173
(17)
(17)
8
44
(17)
(17)
(17)
170
-8
178
(17)
-129
(17)
44
-88
132
(17)
136
23
112
(17)
(17)
-2,779 174,818
175, 716
3,077 -8,613
9,328
6,288
1,740
13
1,287
2,266
4,613
1,663
6,427
6,233
6,162
-10,411
-8, 681
-8,749
-8, 749
-2, 254
-1,764
-1,771
-1,771
-2, 781
-2, 402
-2,427
-2, 427
-2, 756
-2, 307
-2,328
-2,328
-2,620
-2, 208
-2, 223
-2,223
-2, 950
-2,091
-2, 113
-2, 113
-4,212
-3, 533
-3, 549
-3, 549
623
5,004
4,796
4,720
27
28
29
30
31
.(*)
-37
-728
15 -1,074
n.a.
-112
-231
-666
-30
-77
41
14 74
" -59 "118 -1,625
-108
-61
" -87
"46
17
18
19
20
21
22
23
24
25
26
-25
-13(
-132
-219
-598
(*)
-12
4
5
6
7
8
9
10
-202
-23
-178
-142
-448
712 -9,008 -13,172 -10,437 -5,810 -2,866 -7,241 -4,050 -1,970 -1,012
-202
-37
-61
-333
-725 -2,350 -2, 186 -31,905
(*)
t
-9
12
£
-91
-143
47
i
-358
-214
-609
-282
1
2
3
-228
-55
-173
-190
-399
(*)
-274
HP
f
1
I
[
70
71
76
77
78
79
SUEVEY OF CURRENT BUSINESS
62
September 1981
Table 10.—U.S. International
[Millions
Australia, New Zealand, and South Africa
(Credits +; debits -) »
Line
1980
1980
I
1
2
3
4
5
6
7
9
10
11
12
13
14
15
-
I"
II"
2,330
1,461
40
60
39
76
69
14
48
C)
2,681
1,712
50
100
54
90
78
15
54
1
2,802
1,820
50
82
57
86
82
16
58
C)
3,232
2, 124
23
58
51
81
93
18
58
(*)
3,008
1,983
34
67
44
88
84
19
55
1,901
976
925
407
18
442
246
196
78
3
400
196
204
121
5
473
245
228
74
4
586
289
296
134
6
524
266
258
107
3
505
280
224
158
5
-7,558
-171
-264
-3
-1
-51
-40
-1,908
-1,656
-10
-75
-44
-58
(*)
(*)
-12
-8
-1,828
-1,610
-9
-32
-36
-66
-1
(*)
-12
-11
-1,722
-1,482
-12
-36
-47
-71
-2,100
-1,785
-15
-102
-44
-70
J
-12
-"a
-10
-1,757
-1,396
-11
-135
-54
-67
1
(*)
-15
-7
-1,725
-1,434
-9
-40
-50
-75
-1
(*)
-16
-9
-52
-44
-8
-78
-72
-11
-9
—3
-18
-16
-12
-8
-4
-20
-19
-17
-15
-2
-19
-13
-12
-12
(*)
-22
-24
-17
-15
-2
-27
-28
-11
-11
-56
-9
-15
-14
-18
-15
-14
-45
-n
-3
-7
-3
-12
-3
-11
*>-3
-15
-3
-12
-3
-11
-1,425
-273
-539
-278
-336
-362
-547
10
-26
30
5
-5
-11
6
C)
4
-5
10
-2
-1
-7
7
11
-3
7
7
2
-9
8
4
1
-9
10
-1, 435
-869
56
-925
19
-268
-173
24
-196
-26
-543
-191
13
-204
57
-277
-333
-105
-228
7
-347
-172
125
-296
-20
-364
-375
-117
-258
-47
|
i* -110
14-2
"-55
142
"-55
144
1
is -475
—68
is -353
1547
is -101
547
169
-288
414
^ 117
162
300
202
333
322
63
218
2
- -
U S Government miscellaneous services
Receipts of income on U.S. assets abroad:
Interest dividends and earnings of unincorporated affiliates
^v
III
11,045
Transfers under U S military agency sales contracts
Fees and royalties from affiliated foreigners
Fees and royalties from unaffiliated foreigners
II
1981
- -----.---.-.-.-.---
3,623
2,495
39
105
56
95
91
20 I
53
1
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
-*JS
-245
Fees and royalties to affiliated foreigners
--
Private payments for other services
TJ S Government payments for miscellaneous services
Payments of income on foreign assets in the United States:
Interest di v idends and earnings of unincorporated affiliates
-- ----
_._-_.__--
Other private payments
-28
-51
32
Unilateral transfers (excluding military grants of goods and services), net
U S Government grants (excluding military grants of goods and services)
34
U.S. Government pensions and other transfers
35
Private remittances and other transfers 36
37 US assets abroad net (increase/capital outflow ( —}).. .-
33
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
(<)
-—
Gold
Reserve position in the international Monetary Fund
-
U S Government assets other than official reserve assets net
U S loans and other long-term assets
-- --.
U S foreign currency holdings and U S short-term assets net
Reinvested earnings of incorporated affiliates
-U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns:
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
(•)
C)
-548
-343
-118
-224
45
n.a.
U.S. claims reported by U.S. banks, not included elsewhere:
54
55
56
(
Foreign assets in the United States net (increase/capital inflow (+) )
15
843
1553
470
15-250
1,002
Foreign official assets in the United States net
(17)
Other 7
Other US Government liabilities 8
U S liabilities reported by 9U S banks not included elsewhere
Other foreign official assets
Direct investment
E quity and intercompany accounts
194
-
-
[
(17)
-(17)
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
'•
Memoranda :
76 Balance on merchandise trade (lines 2 and 18 ).l0
77 Balance on goods and services (lines 1 and 17) -<.^-___78 Balance on goods, services, and remittances (lines
77, 35 and 36)
79 Balance on current account (lines 77 and 33) 10 .
See footnotes on page 57.
-
...
22
47
38
8
<">
-21
-25
4
2
(<)
(17)
4
6
48
(17)
07)
(1?)
2
(17)
(l7)
33
90
O7)
20
18
3
O7)
(17)
(17)
O7)
43
U S securities other than U S Treasury securities
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed) .
(17)
(*)
(17)
45
46
46
4
30
29
26
2
(1?)
-38
O7)
(17)
2
14-5
1423
i<26
9
9
(I7)
-10
}
i« 113
"18
1477
}
"446
1M83
1717
17 -347
17293
17369
i7 1, 041
-2,849
-688
-468
-501
-1,192
-1,345
-2,339
584
3,488
3,431
3,432
-195
422
413
413
102
853
838
838
338
1,080
1,067
1,067
339
1,132
1,114
1,114
587
1,251
1,236
1,236
1,061
1,899
1,884
1,884
n.a.
SUEVEY OF CUEEENT BUSINESS
September 1981
63
Transactions, by Area—Continued
of dollars]
International organizations and unallocated "
Other countries in Asia and Africa
I
J
II
III
IV
I'
1980
1980
II*
I
II
64,630
44,097
5,260
698
405
2, 121
644
112
1, 176
183
15,692
10,069
1,048
163
78
521
109
26
271
47
14,477
10,987
1,378
185
90
529
118
27
289
40
16, 967
11,318
1,367
230
150
553
140
29
303
55
17,495
11,723
1,467
120
86
519
278
30
313
41
18,268
12,098
1,434
180
89
532
164
31
319
39
18,636
12,378
1,470
195
106
549
189
32
323
49
2,564
726
1
1
1,433
-288
4,861
3,822
1,040
3, 732
1,342
2,260
1,983
277
893
208
-437
-865
429
924
347
1,653
1,517
136
835
334
1,386
1,187
199
1,080
454
1,778
1,372
406
1,298
306
1,587
1,246
340
1,362
397
527
129
117
no
171
166
180
-93,225
-81,617
-2,794
-981
-221
-1,369
178
-2
-227
-447
-24,176
-21, 431
-698
-220
-49
-328
-3
(•)
-57
-102
-23,862
-21, 083
-639
-249
-45
-346
51
(*)
-56
-109
-22,224
-19,400
-740
-263
-60
-342
61
-1
-56
-112
-22, 963
-19,703
-716
-249
-67
-353
69
-1
-58
-124
-24,479
-21,053
-777
-249
-60
-357
69
-1
-62
-114
-24,789
-20, 960
-801
-287
-60
-392
83
-1
-65
-127
-138
-123
-15
-2,803
-2,806
-36
-30
-5
-661
-592
-32
-31
-708
-646
-37
-32
-5
-577
-698
-33
-31
-3
-858
-870
-35
-33
-3
-848
-992
4-39
•MO
1
-917
-1,224
Line
1981
III
IV
II*
I'
518
647
672
761
515
378
-76
368
-62
345
-74
353
-75
377
-95
360
-137
586
2
143
146
1
148
1
149
1
161
(*)
166
1
1
2
3
4
5
6
7
8
9
10
548
419
130
383
-111
152
24
129
128
1
109
12
97
69
-112
109
14
94
119
(*)
179
369
-190
66
183
24
159
119
16
201
13
188
58
-133
11
12
13
14
15
-4,637
-1,287
-1,747
-849
-1,287
-438
-771
-832
-866
-824
-59
-2, 179
-17
-599
-10
-562
-15
-489
-17
-529
-19
-539
-10
-591
-409
(*)
-104
(*)
-104
(*)
-129
(*)
-96
17
18
19
20
21
22
23
24
25
26
16
(*)
-99
(*)
-103
-119
-583
-26
-153
-27
-151
-29
-135
-37
-145
-28
-150
-25
-102
27
28
29
30
31
.
-129
-117
-110
-171
-166
-180
-4,629
-1,319
-782
-969
-1,559
-1,015
-945
-740
-204
-190
-152
-195
-163
-218
33
-3,297
-293
-1,039
-989
-79
-250
-519
-68
-194
-668
-73
-228
-1,120
-72
-367
-732
-77
-206
-689'
-64
-192
-724
-204
-174
-152
-195
-163
-207
34
35
36
-7,936
-909
-1,072
-2,904
-3,051
-409
-4,773
-1,258
-1,683
-791
-1,186
-647
13
-259
-555
439
45
-2,180
-2, 148
-1,279
-803
-16
-1,667
-1,152
-34
112
-99
-26l
-294
1,285
-1,240
-1,441
-707
-23
-780
-527
32
-17
-17
-11
37
38
39
40
41
42
-3,747
-5,474
1,462
265
-1,248
-1,678
299
131
-799
-1,265
413
53
-1,065
-1,454
359
30
-635
-1,077
391
51
-1,203
-1,669
333
132
-743
-1,180
403
34
-509
-514
5
-170
-173
3
-137
-137
-149
-150
2
-54
-54
-136
-139
3
-248
-248
43
44
45
46
-4, 189
1,723
2,763
-1,040
9
339
144
421
-277
-59
-273
2,355
2,783
-429
10
-1,839
-150
-15
-136
38
-2,416
-626
-427
-199
20
794
-467
-61
-406
-32
-4,030
-1,044
-704
-340
-114
935
-77
52
-130
1,000
565
228
356
-129
332
-523
-546
-449
-97
28
445
88
183
-94
346
447
152
-38
190
294
103
28
187
-159
66
-228
-234
-46
-188
2
47
48
49
50
51
" -269
" 141
"-76
"31
n.a.
14-1
"-1
i«-l,734
151,262
«13
156
15-5
1511
151
15 10
153
-978
603
-509
-721
-351
-51
104
603
-509
-721
-351
-51
104
(17)
-12
(17)
-34
"-5,652
18, 969
"112
3,633
(17)
(17)
(17)
323-
6,938
(17)
32
26
5
" -20
»-l,706
3,850
17
234
(17)
( 7)
' u
(17)
( 52
\ 53
n.a.
(
I
-50
...
(17)
114
112
3
-978
-40
-39
(17) "
156
139
(17)
(17)
-55
(18)
(17)
( 7)
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
(17)
(17)
127
125
3
-86
-91
5
15-2,871
5,737
-97
27
(i )
(17)
2,650
(17)
7
(17)
183
182
4,548
(17)
( )
268
(17)
0)
256
242
15
« -2, 324
(17)
7
(17)
" -314
30
559
1
|
1981
1980
1980
96
80
73
"950
"-18
" 432
"136
"400
" -542
"16,881
"3,493
"5,975
173,493
"3,920
17 3, 018
175,688
17 -923
17 437
17-334
17 -709
17 -317
17-75
1751
22,190
7,080
4,300
5,280
5,529
4,986
6,133
1,152
3,898
1,152
261
2,115
1,255
267
1 093
1,405
1,702
74
75
-37,520
-28, 595
-29, 927
-33,224
-11,362
-8,485
-8,814
-9,804
-10,096
-9,386
-9,648
-10,167
-8,082
-5, 257
-5, 558
—6, 226
-7,980
-5,467
-5, 907
-7,026
-8,955
-6,211
-6, 495
-7,226
-8,582
-6, 152
-6,408
-7, C97
-1,287
-2, 074
-2,090
-2, 814
-849
-1,021
-1,021
-1,225
-438
-769
-786
-959
-124
-124
-276
-160
-160
-354
-105
-105
-268
-309
-320
-527
76
77
78
79
166
-175
' 24
n.a.
53
n.a.
(
I
70
71
(
I
72
73
64
(continued from p. 45)
SURVEY OF CURRENT BUSINESS
by the sale of a large Canadian affiliate,
continued large purchases of Eurodol- probably related to the proposed Canalar certificates of deposits (CD's) for dian energy policies. For nonpetroleum
the accounts of U.S. money market affiliates, repayment of a large loan by
mutual funds were partly offset by a re- a U.S. manufacturing company to its
duction in other claims for domestic European affiliates more than accountcustomers' accounts.
ed for the shift. Nonpetroleum outflows
Net U.S. purchases of foreign secur- were partly offset by record Eurodollar
ities increased $1.0 billion to $1.5 bil- borrowings from affiliates \in the Nethlion. The increase was more than ac- erlands Antilles. Reinvested earnings
counted for by a jump in new foreign declined to $3.2 billion, due to lower
bond issues in the United States to $2.2 earnings and increased dividend paybillion, the highest quarterly level in ments by European affiliates.
three years. Canadian issues accounted
for most of the total, reflecting borrow- Foreign assets in the United States
ing by provincial and hydroelectrical
Foreign official assets in the United
authorities. Also, there was an increase States decreased $3.0 billion in the secin issues from Western Europe, Japan, ond quarter, following a $5.5 billion inand Latin America. The stepped-up new crease in the first. The shift was due to
issues may have reflected the need to large decreases in dollar assets of Westobtain long-term funds not available in ern European countries, as they atthe Eurodollar market, and perhaps ex- tempted to limit the decline of their
pectations that high long-term interest currencies against the dollar, and to
rates would not decline significantly in support the French and Belgian francs
the near future. An increase in sales and at the lower limits of the EMS exredemptions of outstanding bonds to change rate band. There were large
$1.0 billion from $0.4 billion partly off- increases in dollar assets of Japan and
set the increase in new bond issues. U.S. Australia, Although assets of OPEC
purchases of foreign stocks were less members placed directly in the United
States dropped from record firstthan $0.2 billion. Purchases in the Japquarter placements, they remained subanese market slowed after a year of
stantial, especially those of Middle
strong increases, and, for the third con- Eastern OPEC members. Assets of
secutive quarter, there were large re- other developing countries increased,
ductions in holdings of Canadian stocks following a moderate reduction in the
because of proposed Canadian policies first quarter, due to a large increase by
discouraging foreign control of natural an Asian country.
resources. Purchases of Western EuroLiabilities to private foreigners and
pean stocks increased moderately.
international financial institutions reU.S. direct investment abroad in- ported by U.S. banks increased $9.5 bilcreased $3.6 billion following a $1.6 bil- lion, following a $2.5 billion decrease.
lion increase. Equity and intercompany The shift reflected a strong pick-up in
account flows shifted $2.4 billion to a domestic loan demand, following a
$0.5 billion outflow. A shift to outflows pause in the first quarter, and a change
for petroleum affiliates was partly offset in the differential between U.S. and
September 1981
Eurodollar interest rates that made
corporate borrowing from Eurodollar
markets less attractive. U.S. domestic
loan demand rose strongly in the second
quarter and, in the face of a continued
restrictive monetary policy, U.S. banks
met increased demand by increasing
issues of domestic CD's and by borrowing from their foreign offices. Simultaneously, a rapid rise in the London
interbank offered rate (Libor) and a
lag in increases in the U.S. prime rate,
sharply reduced the differential between
the U.S. prime rate and the Libor rate,
making it more advantageous for U.S.
corporations to borrow from U.S.
banks. By the end of the quarter, when
the U.S. prime-Libor differential increased, the earlier net inflows were
p artly reversed.
Net foreign purchases of U.S. securities other than U.S. Treasury securities
rose to a record $3.5 billion, compared
with $2.5 billion. Purchases of U.S.
stocks were a record $2.8 billion, partly
due to expectations of continued dollar
strength. Purchases from Western
Europe were $1.7 billion, the third consecutive quarter of strong increases.
Flight capital from France following
the election of a Socialist government
probably contributed to the high-level
of purchases. Canadian purchases increased and there were net increases
from Japan for the first time in a year.
Foreign purchases of U.S. bonds remained strong at $0.6 billion, due to
high interest yields. New Eurobonds issued by U.S. corporations declined to
$0.1 billion from $0.2 billion.
Foreign direct investment in the
United States increased to $2.9 billion
from $2.5 billion, reflecting increased
equity and intercompany account inflows, largely from Japan and Europe.
U.S. GOVERNMENT PRINTING OFFICE : 1981 0 - 354-680
CURRENT BUSINESS STATISTICS
THE STATISTICS here update series published in the 1977 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEY OF CURRENT
BUSINESS. That volume (available from the Superintendent of Documents for $6.25) provides a description of each series, references to sources of earlier figures,-,
and historical data as follows: For all series, monthly or quarterly, 1973 through 1976 (1966-76 for major quarterly series), annually, 1947-76; for selected
series, monthly or quarterly, 1947-76 (where available).
The sources of the data are given in the 1977 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 181-182. Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources
are provided through the (courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1978
1979
1980
Annual total
1978
IV
I
II
1981
1980
1979
III
IV
I
II
III
IV
I
II
8231
3387
17 09
1678
4844
4 01
1 20
091
094
9 62
7 53
210
2209
9.67
6975 ' rr7960
2690
31 39
13 24 1583
1366 1556
4285 r4821
r
369
4 28
0 96
1
12
r
088
097
074
103
r
7 95
9 47
r
6 36
7 37
1 59 r r2 10
19 41
21
44
r
9.23
9.90
III
IV
GENERAL BUSINESS INDICATORS—Quarterly Series
NEW PLANT AND EQUIPMENT
EXPENDITURES f
Unadjusted quarterly or annual totals:
Total nonfarm business
bil. $
Manufacturing
do...
Durable goods industries fl .
do
Nondurable goods industries |J
do...
Nonmanufacturing
do..
Mining
do
Railroad
.
do
Air transportation
l
do..
Other transportation
/.
do...
Public utilities
do
Electric
.
do
Gas and other
do..
Trade and services
do
Communication and other
do....
Seas. adj. quarterly totals at annual rates:
Total nonfarm business ..
do
Manufacturing
do.. .
Durable goods industries
fl
do
Nondurable goods industries j|
do .
Nonmanufacturing
do .
Mining
do....
Railroad . ..
do
Air transportation ..:
do..
Other transportation
do....
Public utilities
do
Electric
.
do
Gas and other
do.. .
Trade and services
do....
Communication and other ..
do
U.S. INTERNATIONAL TRANSACTIONS
Quarterly Data Are Seasonally Adjusted
(Credits +; debits—)
Exports of goods and services (excl. transfers under
military grants)
mil $
Merchandise, adjusted, excl. military
do....
Transfers under U.S. military agency sales
contracts
mil $
Receipts of income on U.S. assets abroad
do....
Other services . .
do
Imports of goods and services
do....
Merchandise, adjusted, excl. military
do....
Direct defense expenditures
do....
Payments of income on foreign assets in the
U.S
mil. $..
Other services
do
Unilateral transfers (excl. military grants), net
mil. $..
U.S. Government grants (excl. military)
do....
Other
do..
U.S. assets abroad, net
do....
U.S. official reserve assets, net
do....
U.S. Gov't assets, other than official reserve
assets, net
mil $
U.S. private assets, net
do....
Direct Investments abroad
do....
Foreign assets in the U.S., net
do....
Foreign official assets net
.
do
Other foreign assets, net
do....
Direct investments in the U.S
do....
Allocation of special drawing rights
do
Statistical discrepancy
do
Memoranda:
Balance on merchandise trade
do.,..
Balance on goods and services
do....
Balance on goods, services, and remittances .... do....
Balance on current account
do....
See footnotes at end of tables.
3 5 ^ - 6 8 0 0 - 81 - SI
23124
79.72
4043
39.29
15152
1021
348
309
4.10
2995
2463
532
6866
32.02
221 021
142,054
27046
98.68
5107
4761
17177
11 38
403
401
4.31
3396
2765
631
7926
34.83
228 925
184,473
29563
11581
5891
5690
17981
13 51
425
401
382
35 44
28 12
732
81 79
36.99
344 667
223,966
6757
2445
1246
1200
4312
290
098
083
122
883
728
155
19 47
8.90
5726
1965
1004
961
3761
2 59
086
080
082
7 19
6 15
105
17 63
7.72
6681
23.68
1231
1137
4313
2 81
1 00
1 19
108
8 58
7 05
153
19 76
8.70
6839
2493
1299
11 94
4347
287
1 04
091
1 18
8 80
7 03
1 77
19 87
8.79
7799
3042
1573
1469
4757
3 11
1 12
1 10
1 23
9 38
7 42
196
2201
9.62
247 36
8615
4388
4227
16121
1103
368
341
436
32 13
2665
548
7332
3328
255 55
9075
46 38
4437
16480
1123
390
349
404
32 40
2685
555
7603
3371
265 24
9471
49 25
4547
170 52
1101
383
403
4 16
34 02
2788
6 14
7903
34 44
273 15
100 11
52 13
4797
17304
1140
4 13
395
460
3505
2871
635
7886
3505
284 30
10657
5503
51 55
177 73
1186
4 24
455
441
34 08
27 16
692
8269
35 90
61 041
38,904
65 424
42,036
68 890
43,'834
74 718
47,236
79 894
51,367
7402
2886
1479
1406
45 16
3 27
1 06
127
098
8 84
7 07
1 77
20 23
9.52
74 12
2898
14 49
1450
45 13
3 50
100
093
1 07
8 97
689
208
20 38
9.28
291 89
111 77
58 28
5349
180 13
1189
4 46
390
411
36 26
2898
728
82 17
37 34
294 36
11569
59 38
5632
178 66
1281
4 06
427
376
35 03
27 91
7 12
8107
37 66
296 23
116 40
58 19
5821
179 83
1386
398
406
418
3558
28 14
7 44
81 19
36 97
299 58
118 63
59 77
58 86
18095
1528
4 54
377
339
34 96
27 54
741
8291
36 11
85 764
54,898
83 617
55667
86655
56252
88 636
57 149
65 18
24 10
12 54
1156
4108
2 74
0 99
090
084
8 01
6 64
1 37
1908
8.52
rl
80 42
r
31 84
1559
1625
r
4858
r
4 05
1 05
r
065
1 04
r
9 28
r
7 21
r
2 07
r
21 52
10.99
'9173
3666
18 26
1840
55 07
4 45
1 30
1 09
1 31
10 21
7 89
2 32
24 93
11.78
312 24 r316 73 rl322 96 1332 69
124 50 125
49 128 72 128 11
61 24 rr63 10 rr63 07
64 06
63 27
62 40
65 65
64 05
187 74 191 24 194 23 204 58
1620 1680
16
12
16 70
r
r
4 23
4 38
4 22
4 84
r
r
3 29
385
2 84
4 44
r
r
366
404
400
4 60
36 05 r37 84 rr36 79
37 00
27 69 r29
32
29 41
28 84
836 r r8 53 r r7 38
8 16
8443 r8588 r8655
9268
39 02
4032
43 70
44 31
r
94
r
431
61 098
94 845
60477
8090
6609
2 272
2 279
2056
1894
1705
8231
1 599 1 411 1 738 2085
2 136 r2 131
43,265
66,700
75,936 12,795 14,111 15,582 18,055 18,952 20,465 16^860 18,850 19J64 r2r 1,566 22235
7 383
7 286
27614
31 145
36 536
7 769
7 828
8 164
8 663
9 281
9 587
9 636
9 854
9 005
-230,030 -281,917 -333,888 -60,606 -62,885 -68,188 -72,265 -78,582 -85 981 -82 830 -80 177 -84 902 rr 89641 -92 242
-175,813 -211 819 -249 308 -45 715 -46 766 -51 117 -54 210 -59 726 -65 024 62411 59 154 62 719 -65
775 67 391
-7,352
-8,556 -10,746 -2,045 -2,028 -2,029 -2,164 -2,334 -2,656 -2512 -2727 -2 851 r-2 699 -2865
-21,865
-25 000
-33 236
-28 307
-43 174
30660
-5,067
-3,183
-1884
-61,070
732
-5,593
-3,536
-2058
-62,639
-1,133
-7,056 -1,318
-4,659
-800
518
2397
-84,776 -30,593
-8,155
182
-4644
-57,159
-16,056
63,748
33561
30,187
7,897
-3767
-5 165
-57,739 -71 456
-23,949 -18,546
38,946
50,261
-13 757
15492
52,703 34,769
11,877
10,854
1 139
1 152
21 140
29640
11398
-33,759
-9,008
-10,892
-14.075
-27,346
7,008
4,950
1.414
-25,342
10,779
8,382
3.723
-6315
6531
-991
-29 784
-4,812
27,964
18434
9,530
1,608
3513
-6,811
435
-83
-883
-7352
6739
-7949
7093
-8734
7 157
-9203 -10 629
7319
7 672
10 342
7 565
10697
7 600
11 507 r 12513
7 825 r g 654
13 587
8 398
-1,311 -1,381 -1,401 -1,501 -1,878 -1,332 -1,503 -2,344 r-l,527
-1,530
r
-911
-854
-881
-890 -1,336
-787
-977
-912 -1,624
-994
r 550
542
457
470
520
611
545
591
720
536
r
-8,057 -15,639 -24,942 -14,003 -12,639 -24,837 -19 302 -27 995 -22,397 -21 521
-3585
322
2779
-649 -3268
1 109 4279
502
4529
905
-1093
-971
778
925
-3379 -14 990 -26 943 -12 429
-5,496 -7,097 -6,214 -5,142
2,259
7,007 24,345
5,335
-8688 -9785
6011 -1295
10,948 16,792 18,334
6,630
1,553
3,353
3,382
3,588
1 139
3430
9309
-455
8857
-4,730
2,539
2,082
1.228
-7,283
702
232
-679
-6,974
2,453
1,933
1,052
1456
1 187 1427
-7915 24 152 16766
-4,863 -2,710 -3,851
7,509
7,232 11,651
7462
7557
7686
14971
-326
3965
2,221
3,884
2690
1 152
6073 18 151
2676
-8,359 -10 126
1,312
-217
701
-759
-189
-2.095
-6 744
787
242
-545
-2902
6478
5,887
4.975
1094
22622
-7,122
23,870
7711
16 158
2060
r
r
r
1395
16473
-l,552
r
7,140
r
5503
1637
r
2487
1 093
2 736 10 901
1475
19'l41
-3,627
12,810
3 009
15819
2877
r
-6914
2603
2,067
1.073
-5570
3,734
3,014
1.390
-4
677
r
4,790
r
4,240
r
3.263
7 637
S-l
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
September 1981
1981
1980
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates: t
Total personal income ~
bil $
Wage and salary disbursements, total
do....
Commodity-producing industries, total.... do....
Manufacturing
do
Distributive industries
do
Service industries '•
do
Govt. and govt. enterprises
do....
Other labor income
do....
Proprietors' income: $
Farm
do....
Nonfarm
do
Rental income of persons with capital
consumption adjustment .
. bil $
Dividends
do....
Personal interest income
do
Transfer payments
.
..
. . . . do. ..
Less: Personal contrib. for social insur
do....
Total nonfarm income
do .
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
bil. $..
Less: Personal tax and nontax payments
do....
Equals' Disposable personal income
do
Less* Personal outlays
do.. .
Personal consumption expenditures
do....
Durable goods
do
Nondurable goods
do
Services
do....
Interest paid by consumers to
business
do....
Personal transfer payments to
foreigners (net)
do....
Equals' personal saving
do....
Personal saving as percentage of disposable
Disposable personal income in constant (1972)
dollars
bil $
Personal consumption expenditures in
constant (1972) dollars
do
Durable goods
.
. . . . do .
Nondurable goods
do
Services
do
Implicit price deflator for personal consumption
exoenditures
index 1972 100
INDUSTRIAL PRODUCTION H
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967 — 100
By market groupings:
Products, total
do....
Final products....
do....
Consumer goods
do
Durable consumer goods
do....
Nondurable consumer goods
do
Equipment
do....
Intermediate products
do....
Materials ...
do....
By industry groupings:
Mining and utilities
do
Manufacturing
do....
Nondurable manufactures
do
Durable manufactures
do....
Seasonally Adjusted
Total index
do....
By market groupings:
Products total
.
do.
Final products
do
Consumer goods ...
do....
Durable consumer goods
do....
Automotive products
do....
Autos and utility vehicles
. do
Autos
do....
Auto parts and allied goods
do....
Home goods
do
Appliances, air cond., and TV
do....
Carpeting and furniture
do
Nondurable consumer goods
do....
Clothing
do
Consumer staples
do...
Consumer foods and tobacco
do....
Nonfood staples
do
Equipment
.. do.
Business equipment...
do....
Industrial equipment #
do....
Building and mining equip
do....
Manufacturing equipment
do....
Commercial, transit, farm eq. #
do....
Commercial equipment
do....
Transit equipment
do
Defense and space equipment
do
See footnotes at end of tables.
2,161.2 2,179.4 2,205.7 2,234.3 2,257.6 2,276.6
1,326.3 1,342.4 1,356.8 1,381.7 1,400.4 1,411.2
467.7
475.8
485.2
491.1
452.5
460.0
358.8
366.2
369.9
341.0
346.7
352.5
341.7
338.6
341.4
325.5
329.4
332.6
313.7
305.6
310.5
295.3
298.9
301.7
261.7
263.3
264.8
254.7
253.0
254.1
145.0
141.9
143.5
137.7
140.4
139.1
1,943.8
1,236.1
437.9
333.4
303.0
259.2
236.1
118.6
2,160.2
1,343.7
465.4
350.7
328.9
295.7
253.6
137.1
30.8
100.7
23.4
107.2
30.5
48.6
209.6
249.4
80.6
1,892.9
31.8
54.4
256.3
294.2
87.9
2,112.6
1,943.8
302.0
1,641.7
1,555.5
1,510.9
212.3
602.2
696.3
2,160.2 2,161.2
338.5
336.3
1,821.7 1,824.9
1,720.4 1,714.9
1,672.8 1,667.9
211.9
210.6
675.7
667.4
785.2
789.9
22.4
105.1
22.0
106.3
21.9
111.4
22.2
111.5
22.6
111.5
22.6
111.6
2,300.7 2,318.2 2,340.4 r2,353.8 '2,367.4 '2,384.3 '2,419.0 2,445.8
1,433.1 1,442.8 1,452.8 1,459.6 1,467.3 1,473.9 1,484.6 1,500.9
520.9
508.1 '511.5 '516.7
503.2
504.8
500.3
500.5
395.5
379.4
383.7
387.8 '388.8 '391.8
375.6
377.2
366.0
357.0
357.7 '358.7 '360.5
354.8
348.4
352.6
340.2
330.9 '332.2 '334.6
326.5 r 328.4
318.3
322.6
273.8
268.4
269.4 '270.5 '271.7 '272.8
265.9
267.2
156.3
153.0
154.8
150.9
151.6
149.5
146.6
148.0
19.9
112.8
18.7
112.6
18.2
114.2
20.2
113.0
21.7
112.2
23.2
112.2
'23.9
112.3
24.5
112.7
33.9
33.7
33.3
33.5
32.9
33.l'
32.7
32.5
32.5
32.3
32.4
32.0
32.2
31.8
63.0
62.4
59.4
60.2
61.1
58.3
58.2
55.5
55.9
56.7
57.4
54.7
55.4
55.2
315.7
'309.1
'300.6
'304.1
295.2
297.9
269.4
281.8
289.1
265.6
274.1
261.7
263.2
260.4
343.7
323.5 '326.5 '342.3
321.9
322.5
318.4
314.7
318.4
313.8
313.2
313.4
309.7
309.0
104.9
104.2
103.1 103.3
102.6 r 102.9
91.9
101.9
102.3
90.4
91.4
87.0
88.3
89.1
2,114.5 2,132.7 2,158.7 2,186.8 2,209.7 25228.5 2,254.8 2,273.2 2,295.4 2,306.4 '2,318.1 '2,333.1 '2,366.6 2,392.5
r
2,179.4 2,205.7 2,234.3 2,257.6 2,276.6 2,300.7 2,318.2 2,340.4 2,353.8 '2,367.4 '2,384.3
378.2
382.5 '388.0
375.1
371.6
363.5
359.9
369.3
346.5
354.1
341.7
1,837.7 1,859.2 1,880.2 1,897.7 1,913.1 1,931.4 1,946.6 1,965.4 1,975.6 1,984.9 1,996.3
1,730.3 1,742.4 1,778.1 1,800.3 1,819.7 1,847.8 1,855.6 1,873.2 1,869.6 1,875.5 1,891.9
1,683.4 1,695.2 1,729.9 1,752.0 1,771.0 1,799.3 1,806.9 1,824.1 1,820.0 1,825.7 1,841.6
229.4
226.4 '226.1
240.5
237.7
224.2
236.6
222.3
223.4
210.5
205.2
731.5 '740.6
729.6
733.9
721.5
726.9
713.1
690.5
706.8
680.9
674.4
853.9 '856.6 '867.9 '874.9
842.4
833.7
841.2
817.1
821.9
798.4
809.1
'2,419.0
'392.4
'2,026.6
1,912.4
1,861.8
'228.6
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'886.8
2,445.8
398.3
2,047.5
1,939.6
1,888.5
248.1
747.4
893.1
43.7
46.4
45.9
45.9
46.2
46.5
46.7
47.1
47.4
47.7
48.2
48.6
48.8
'49.3
'49.6
50.0
1.0
86.2
1.2
101.3
1.0
110.0
1.0
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1.0
116.8
1.6
102.1
1.6
97.4
1.6
93.3
1.1
83.6
1.0
91.0
1.0
92.2
1.0
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1.0
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1.0
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1.0
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1.0
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5.2
5.6
6.0
6.1
5.8
5.6
5.1
4.9
4.6
4.6
4.9
'5.2
'5.4
'5.5
5.4
1,011.5
1,018.4
1,018.6
1,018.2
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1,023.6
1,026.4
1,027.4
1,030.4
930.9
146.6
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440.9
931.1
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440.8
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928.8
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941.8
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960.9
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450.1
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162.3
178.9
179.1
180.5
182.5
183.7
184.9
186.2
187.4
188.3
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190.6
191.5
192.5
194.4
1,034.1 1,035.3 1,036.8 1,036.5 1,037.3 1,042.5
152.5
147.0
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143.7
148.9
150.0
149.3
145.8
146.4
151.7
152.7
151.5
152.6
156.5
P
150.0
147.2
150.8
155.8
148.8
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160.5
156.4
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145.3
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148.9
145.2
151.9
147.6
140.7
139.7
138.3
115.6
147.3
141.6
144.7
131.7
147.4
145.6
147.5
122.0
157.7
143.0
153.8
138.1
152.6
151.3
154.1
139.3
160.0
147.4
157.7
143.2
151.7
150.2
152.5
148.4
154.1
147.1
157.4
147.3
148.7
147.4
147.4
144.9
148.5
147.3
153.6
150.3
143.5
141.9
138.1
132.1
140.5
147.0
149.7
149.6
143.9
142.7
140.8
134.1
143.5
145.3
148.1
150.4
149.3
148.0
147.0
142.8
148.7
149.4
154.1
155.4
150.2
148.9
148.1
148.3
148.0
149.9
155.1
156.7
149.5
148.0
147.2
148.3
146.7
149.1
155.2
154.5
150.9
149.5
148.4
150.5
147.6
151.0
155.9
155.1
156.1
155.1
154.6
153.7
154.9
155.8
159.8
157.2
P
150.6
"149.2
P
146.6
P
134.9
P
151.2
P
152.8
"155.7
"149.7
144.7
153.6
164.0
146.4
149.5
146.7
161.2
136.7
150.7
135.3
151.0
124.4
156.0
142.0
162.2
128.1
151.4
148.6
168.3
134.9
144.9
150.7
168.1
138.6
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149.5
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139.5
153.1
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156.5
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158.6
144.8
156.9
136.4
158.1
150.7
164.3
141.3
154.4
152.5
164.8
144.1
145.2
152.4
165.3
143.4
145.5
153.4
166.1
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155.1
156.6
170.7
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152.5
147.0
140.3
142.2
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146.6
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150.4
151.4
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152.7
152.9
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150.8
155.8
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152.2
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228.1
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110.1
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117.3
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126.0
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147.4
164.3
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173.2
156.5
r
239.9
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228.3
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r
97.9
144.5
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r
93.1
'90.1
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132.6
113.5
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125.6
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171.1
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r
243.8
125.5
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r
235.6
137.6
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97.7
145.6
144.1
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98.9
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123.5
156.0
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170.7
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r
242.5
124.0
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r
237.6
134.6
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98.1
147.1
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146.3
139.0
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119.2
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149.3
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156.7
148.9
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144.8
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153.5
r
242.8
123.1
193.1
242.0
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99.2
148.7
147.4
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247.9
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r
244.8
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157.2
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177.1
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253.3
128.5
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r
248.5
139.0
101.0
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147.8
146.9
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r
93.3
r
200.8
145.6
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157.5
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r
264.0
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249.3
133.1
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148.2
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150.5
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158.6
150.5
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270.4
128.4
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250.4
124.8
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276.6
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252.7
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281.7
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254.5
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150.7
147.3
151.8
129.1
120.0
'209.5
144.8
121.4
163.1
152.1
122.1
160.3
151.3
170.8
152.1
182.0
167.0
'286.4
128.4
199.4
'258.0
130.0
102.0
152.2
151.5
150.4
148.0
153.0
131.4
122.2
208.0
145.1
119.5
166.3
151.4
120.7
159.9
149.9
171.4
153.0
183.5
168.9
'288.6
130.6
'200.4
'259.9
129.7
101.7
150.2
154.2
154.9
e
!53.4
e
!52.8
e
!35.5
159.7
e
!54.4
e
!60.1
e
!53.4
e
!62.7
"159.5
P
148.9
P
163.4
P
138.9
e
!53.4
e
P
153.4
e
P
152.4
P
151.6
P
e
150.0
"146.8
"147.8
P
123.0
P
118.1
P
210.9
P
146.3
P
123.6
P
166.1
P
151.2
!71.7
140.6
!52.8
!51.9
•151.1
e
!48.5
•141.4
e
!37.3
e
!08.7
e
!04.9
e
210.0
e
!43.7
e
l!6.1
e
!51.4
P
159.8
P
150.0
P
e
P
153.9
P
184.5
P
169.4
P
290.8
P
e
!54.6
e
!85.4
e
!70.3
e
292.4
e
P
202.0
P
263.1
P
e
202.8
e
265.6
e
P
e
171.3
130.9
128.7
102.4
160.0
!72.1
!31.5
!26.9
!02.9
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
S-3
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
157 1
1490
165 1
1544
1522
118.4
191.1
1775
185.1
1309
156.3
1479
1647
156.1
1465
165.6
June
July
Aug.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION 1J— Continued
Seasonally Adjusted — Continued
By market groupings—Continued
Intermediate products
1967—100
Construction supplies
do
Business supplies . . ..... ..
do
Materials.
'.
Durable goods materials $
Durable consumer parts
Equipment parts
Nondurable goods materials $• ..
Textile, paper, and chemical
Energy materials .
By industry groupings:
Mining and utilities
Mining
...
.
Metal mining
Coal . . . .
. .
Oil and gas extraction #
Crude oil
.
Natural gas
Stone and earth minerals
do
do
do...
do ..
.
do
do...
do
Utilities
Electric....
Manufacturing
Nondurable manufactures
Foods
Tobacco products
Textile mill products
Apparel products
Paper and products
Printing and publishing
Chemicals and products
Petroleum products
Rubber and plastics products
Leather and products
Durable manufactures
Ordnance, pvt. and govt
Lumber and products
Furniture and fixtures
Clay, glass, and stone products
Primary metals.. ... .
Iron and steel
Nonferrous metals
Fabricated metal products
Nonelectrical machinery
Electrical machinery .
Transportation equipment
Motor vehicles and parts
Instruments
.
...
1605
1580
163 1
1564
1578
137.1
189.9
1759
183.7
1289
do
do
do
do
do...
do
do
do...
1447
1255
127.0
1356
121.7
946
1092
137.6
do
do
do
do
do
166 0
1858
do
do
do...
do
do....
do...
do
do....
do....
117 8
1450
134.4
1510
do....
do ...
do....
do....
do....
do
do....
do....
do....
do .
do
do....
do
do
1536
1640
1475
136.9
211.8
1439
2722
71.7
146.4
752
136.9
161.5
163.9
121 3
113.2
135.8
148.5
1637
1750
135.4
1599
174 9
1519
!409
1628
r
!476
1430
107.8
1872
1715
177.7
1293
r
1495
1327
109 2
1467
133.3
'94 9
111 1
1328
1683
1897
146 7
161 2
1496
1199
1386
1270
'351 1
139.6
r
207 1
1329
r
2557
r
70.1
136.7
r
785
119.3
1500
147.5
102
3
r
92.4
1198
134.1
1628
1728
116.9
1190
171 1
1446
128 4
1607
1364
1290
r
92.5
1770
157 1
159.6
128 4
1490
1306
r
831
1499
133.5
r
94 7
1060
1279
169 6
192 3
139 3
154 6
1491
119 6
131 3
1236
1436
139.2
1908
'127
9
r
241 0
67.8
128.7
r
778
1138
1383
135.1
r
83 3
r
68.7
1114
122.6
159 1
1658
110.3
107 0
1675
1489
134 1
1636
1388
1313
r
96.8
176.3
1613
164.8
1293
1499
1296
712
1530
133.4
r
93 5
105 1
1253
1726
1966
141 2
157 6
1487
118 7
1348
1255
146 8
141.7
1982
124 4
r
2433
r
679
1299
r
78 1
1202
1408
137.1
r
86 9
r
76.0
1063
124.8
1596
1668
108.5
104 1
1686
1512
1385
163 7
1425
1339
102.8
1766
1713
176.5
127 6
149 5
1307
r
728
149 1
134.7
r
94 4
109 5
1297
1706
193 7
143 9
161 0
1499
1197
133 2
1235
153 6
140.9
r
208 2
1290
r
2544
r
675
1321
r
78 9
1216
1445
143.8
r
906
r
804
1072
128.8
1595
167 4
113.3
1137
168 1
1524
140 6
1641
145 9
139 5
108.3
179 1
1743
180.8
1262
1489
132 1
908
149 7
134.5
r
935
110 8
1298
167 7
189 6
146 5
162 1
151 1
1236
134 3
1217
153 4
142.5
r
209 4
1280
r
2588
r
70 1
1357
r
794
121 4
1467
146.2
r
99 6
r
920
1132
131.7
1609
169 8
118.3
123 2
1696
153 4
142 6
1642
1501
146 1
113.1
1842
1751
182.4
1289
1515
135 1
1072
151 7
136.1
r
93 2
1119
132 7
169 9
1926
148 9
1630
151 6
123 5
1364
1257
154 3
142.1
r
211 7
1286
r
258
9
r
710
1392
r
79 7
1237
147 6
148.8
113 2
1076
1232
132.3
162 9
1730
121.8
129 2
1700
1554 1575
1452 1484
1655 1666
1522
1538
1474 1500
113.8 114.7
186 1 189.7
1802
1796
187.6
187.8
1302
129 6
1524
1386
1222
153 5
138.4
r
95 1
1144
1374
1679
1895
1504
1650
151 0
118 8
135 6
1227
157 0
143.0
r
220 5
131
3
r
2623
r
679
1403
r
79 6
1236
'I486
153.0
111 5
1030
127 1
135.7
1669
175 1
120.4
125 7
171 9
1533
1404
1255
1475
141.4
r
95 4
1133
1384
1676
1893
151 1
165 6
151 9
123 5
138 4
1238
156 5
143.9
r
2189
133
1
r
264 0
689
1410
r
786
127 4
1500
156.8
114 1
1087
124 1
135.8
1673
177 6
117.4
1200
173 9
1577
1489
1664
1543
1506
114.3
1889
1799
187.3
131 6
154 1
143 1
1341
1590
142.2
95 0
1087
1400
166 4 1
187 1
151 2
166 2
152 5
125 4
139 3
121 6
1560
144.8
r
219 8
131
5
r
2702
1548
143 2
131 1
151 2
144J
95 7
111 8
1388
1678
188 9
151 6
165 3
152 4
125 7
1362
1202
157 6
142.7
r
218 5
130
3
r
2695
rgg 3
rgg g
1408
r
784
126 2
1543
156.4
114 5
108 4
125 9
137.6
168 3
174 9
116.1
1199
171 1
142
1
r
78 5
125 6
155 6
154:6
114 9
1080
1277
139.2
169 2
177 4
119.5
127 1
170 0
153.4
1528
121.1
194.0
1790
187.3
123 0
1529
1518
119.7
192.8
1793
186.8
123 1
155.0
1436
166.3
P
155.3
P
1432
P
e
!55.1
e
154.0
152 3
123.0
193.1
177 9
184.8
128 8
P
1550
P
1531
P
123.1
P
194.5
P
1770
P
184.1
P
e
!54.3
e
!525
e
!20.9
e
!95.1
e
!77 1
e
!84.5
e
e
!57 1
e
132 5
mil. $.. 3,536,797 3,846,477 303,543 315,874
do 13 536 797 13 846 477 315 633 317 906
Manufacturing, total t — —
do.... 1 1,727,291 1 1,845,936 150 332 151 188
Durable goods industries
do.... 909,631 936,030 75,554 75,485
Nondurable goods industries
do.... 817,660 Qf\Q Q(")£ 74,778 75,703
Retail trade, total §
do
*894 343 ^56 655 79491 79829
Durable goods stores
do
304 809 297 926 25 071 24 593
Nondurable goods stores
do.... 589,534 658,729 54,420 55,236
1
Merchant wholesalers, total @
do.... B15,163 1,043,886 85,810 86,889
Durable goods establishments
do.... 410 079 438 439 35 196 35353
Nondurable goods establishments
do.... 505,084 605,447 50,614 51,536
Mfg. and trade sales in constant (1972) dollars
(seas, adj.), total *
."
bil. $..
154 1
1529
Manufacturing *
do
716
708
Retail trade * .
do
45 2
45 4
Merchant wholesalers *
do. .
374
367
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of year
or month (unadj.), total $.
mil. $.. 440,354 470,769 463,875 464,625
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total $
mil. $.. 444,224 475,202 466,828 468,943
241 572 257 979 257 207 256 740
Manufacturing, total t •••
do
Durable goods industries
do.... 161,390 171 603 170,391 170 540
Nondurable goods industries
do....
86,376 86,816 86,200
80,182
1505
135 2
123
1
r
759
146.1
96 3
112 7
1337
152 1
1354
1250
r
770
146.2
95 2
111 8
1322
155 8
141 0
120 2
122 9
147.6
96 2
1327
P
1676
188 6
1707
1929
1725
195 4
P
171 3
P
e
!70 3
e
152 0
165 9
151 9
1528
166 4
152 2
1525
166 0
1508
P
1530
P
166 9
P
e
!525
e
122 2
138 9
121 6
1570
122 3
138 8
1226
1559
120 1
138 5
121 1
153 4
141.6
r
2198
130
0
r
275 2
141.3
r
220 6
129
8
r
280
3
r
69 8
142
5
r
79 8
1263
143 5
158 7
154.3
110 6
1034
122 2
139.5
169 7
178 8
158 9
15L7
111 9
1056
121 6
138.4
172 1
179 9
rgg 9
121.3
130 7
170 0
Retail trade, total. §
Durable goods stores
Nondurable goods stores
do....
do....
do....
108,835
53,274
55,561
Merchant wholesalers, total @
Durable goods establishments
Nondurable goods establishments
do....
do....
do....
93,817
60,291
33,526
Mfg. and trade inventories in constant(1972)dollars,
end of year or month(seas.adj.),total*
bil. $..
Manufacturing *
.
do
Retail trade *
do....
Merchant wholesalers *
do....
See footnotes at end of tables.
111,694 110,003 110,283
51,853 51,249 51,675
59,841 58,754 58,608
105,529
67,938
37,591
99,618 101,920
63,938 65,387
35,680 36,533
2648
1472
64.8
52.8
264.4
1464
64.7
53.3
1586
74 6
45 4
38 6
158 8
744
459
38 4
1594
74 4
45 7
39 2
1605
739
46 7
399
161 4
74 3
47 1
40 1
160 4
74 3
46 8
1333
1930
392
158 5
74 2
45 7
38 5
2642
145 9
65 1
53.3
2643
145 2
657
53.5
264 1
145 1
654
53.6
2630
1450
64 6
53.4
2628
1455
643
52.9
2629
145 8
639
53.1
2626
146 1
635
53.0
P
137 7
154 9
e
e
143
1
r
80 9
1225
P
161 0
148.1
r
P
1fi7 9
pi r»o o
rgg 5
122 6
139.2
173 8
180 1
P
997
P
129 2
P
139.4
P
176 0
P
123.4
137 5
171 3
P
e
l!5.0
e
P
el 74 K
286 4
pgg 4
rgg 9
1435
P
81 0
121 3
P
161 6
"148.0
181 9
120.1
"131 0
173 6
160
2
r
75 7
r
d.fi 4
r
38 1
341 403
354 600
170 275
87 431
82,844
87 131
97 ^fi8
59 563
97,194
41 490
55,704
158 8
74 ^
AK. 7
38 5
487 060 490 254 '494226 499 518
267 506 269 260 r269 709 272 207
177 123 177 635 178
676 180 735
90,383 91,625 r91,033 91,472
113,963 115,426 117,307
119,795
52 306 53529 r54 880 56 199
61,657 61,897 r62*427 63,596
105,591 105,568 107,210
107,516
69,174 69,876 rr70,589 70756
36,417 35,692 36,621 36,760
r
263 2
146 4
638
53.0
r
263 9
146 6
64 3
53.1
!67 0
151 6
467 343 475 798 480 304 470 769 476 328 483 898 489 556 490 985 492 671 r494 485 493 963
471,500 473 617 474 884 475 202 478451 484 069 485 467
256 837 256 218 257 042 257 979 261 752 264 496 266 524
170 163 169 781 170 275 171 603 174 223 175 620 176 229
86,674 86,437 86,767 86,376 87,529 88,876 90,295
111,711 113,106 112,639 111,694 111,790 113,507 113,404
51,738 52,006 52,209 51853 52234 52374 51791
59,972 61,040 60,430 59,841 59,556 61,133 61,613
102,953 104,293 105,203 105,529 104,909 106,066 105,539
65,461 65,951 66,955 67,938 67,319 68,482 68,571
37,492 38,342 38,248 37,591 37,590 37,584 36,968
!91 9
P
144.4
P
221 2
P
129 0
P
rgQ9
159 8
74 8
46 0
r
39 0
!48.0
96 1
143.3
r
2197
129
3
r
2858
126 2
123.7
136 4
170 6
!45 2
e
!63 9
e
P
332,106 350,330 336,636 356,011 323 300 331 124 361 175 354 87"3 353 099 r366 401
327 758 335 873 339 049 343 752 349 018 350 334 349 898 350 923 349 245 '354 442
156 915 161038 162 384 163 719 164 588 165 508 165 804 167 491 167 527 171 494
79,735 82518 83229 83482 83 329 84215 85058 86*327 86664 rgg 770
77,180 78,521 79,155 80,236 81,259 81,293 80,746 81,164 80,863 r82,724
80 620 81 552 82 764 83 443 85 463 86 810 87 608 85 855 85 501 rg7 gg^
25094 25293 26007 25 983 27 075 28 328 28 429 26 356 26 536 r27 532
55,526 56*259 56 757 57460 58388 58482 59 179 59499 58965 r59 852
90,223 93,282 93,901 96,591 98,967 98,016 96,486 97,577 96,217 r95,564
36937 38 110 38799 39 403 40 370 41 511 39907 40 299 40 584 r41 045
53,286 55,172 55,102 57,'l88 58,597 56,'505 56,579 57,278 55,633 r54,519
156 8
73 6
45 4
377
!303
P
1578
P
1456
P
1160
P
168 5
P
147.6
P
BUSINESS SALES
Mfg. and trade sales (unadj.), total $
Mfg. and trade sales (seas adj ) total $
!429
1673
r
265 4
146 3
rgg 2
r
53.8
267 4
147 2
66 5
53.8
!55 2
!44.8
e
!31 2
e
!42
4
e
82 2
ei fl7 K
e
!38.4
e
!77 2
el Of q
!21 0
S-4
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 198i
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total $
ratio-
1.41
1.45
1.48
1.48
1.44
1.41
1.40
1.38
1.37
1.38
1.39
1.39
1.40
1.39
1.41
do
do...
do
.. do
do....
1.57
1.98
0.65
0.85
0.48
1.65
2.16
0.70
0.96
0.50
1.71
2.26
0.72
1.01
0.53
1.70
2.26
0.71
1.02
0.53
1.64
2.13
0.67
0.96
0.50
1.59
2.06
0.65
0.93
0.48
1.58
2.05
0.64
0.93
0.48
1.58
2.06
0.64
0.93
0.48
1.59
2.09
0.66
0.96
0.47
1.60
2.09
0.66
0.95
0.47
1.61
2.07
0.65
0.95
0.47
1.60
2.05
0.65
0.94
0.47
1.61
2.05
0.64
r
0.92
r
0.46
1.57
2.01
0.63
0.92
0.46
1.60
2.07
0.65
0.94
0.48
do....
do
do
do
1.12
0.46
0.18
0.47
1.13
0.46
0.18
0.48
1.16
0.47
0.19
0.50
1.14
0.46
0.18
0.50
1.12
0.45
0.18
0.49
1.10
0.45
0.18
0.48
1.10
0.45
0.17
0.48
1.08
0.44
0.18
0.46
1.08
0.44
0.18
0.46
1.09
0.45
0.18
0.47
1.12
0.45
0.18
0.48
1.11
0.45
0.18
0.48
1.13
0.45
0.19
0,49
1.10
0.44
0.18
0.49
1.10
0.44
0.17
0.49
Retail trade total §
do....
Durable goods stores
do
Nondurable goods stores . .
.
do....
Merchant wholesalers, total @
do....
Durable goods establishments
do....
Nondurable goods establishments
do....
Manufacturing and trade in constant (1972) dollars,
total *
do
Manufacturing *
.... do ..
Retail trade *
do
Merchant wholesalers *
. do .
MANUFACTURERS' SALES, INVENTORIES,
AND QRDERSH
1.45
2.08
1.11
1.41
2.09
1.10
1.38
2.04
1.08
1.38
2.10
1.06
1.39
2.06
1.08
1.39
2.06
1.09
1.36
2.00
1.07
1.34
2.00
1.04
1.31
1.93
1.02
1.31
1.85
1.05
1.29
1.82
1.04
1.33
1.98
1.04
1.35
2.02
1.05
1.34
1.99
1.04
1.37
2.04
1.07
1.17
1.64
0.77
1.16
1.71
0.74
1.16
1.82
0.70
1.17
1.85
0.71
1.14
1.77
0.70
1.12
1.73
0.69
1.12
1.73
0.69
1.09
1.72
0.66
1.06
1.67
0.64
1.08
1.65
0.67
1.09
1.72
0.65
1.08
1.72
0.64
1.10
1.72
0.64
1.12
1.72
0.67
1.11
1.71
0.66
1.72
2.06
1.44
1.41
1.73
2.07
1.43
1.45
1.69
1.98
1.43
1.41
1.67
1.95
1.45
1.39
1.66
1.95
1.43
1.40
1.65
1.95
1.41
1.36
1.64
1.97
1.38
1.33
1.63
1.96
1.36
1.33
1.64
1.97
1.36
1.35
1.65
1.96
1.39
1.36
1.67
1.98
1.41
1.38
1.66
1.93
1.41
1.41
1.68
1.98
1.45
1.39
Manufacturing total 1"
Durable goods industries
Materials and supplies
Work in process . . . .
Finished goods
Nondurable goods industries
Materials and supplies
Work in process .
Finished goods
Manufacturers' export sales:
Durable goods industries:
Unadjusted total
Seasonally adj., total
.
mil «j>
do....
Shipments (not seas, adj.), total t
Durable goods industries, total
Stone, clay, and glass products
Blast furnaces, steel mills
Fabricated metal products
Machinery, except electrical
m
,
f f
j. '
Motor vehicles and parts
Instruments and related products
82,988
do.... 1,727,291
do.... 909,631
44,239
do....
136,201
66,902
do....
do.... 115,159
do.... 166,680
112,482
/}
200,538
do.... 133,099
39,343
do....
Textile mill products
do
817,660
240,821
11,009
44,558
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
do....
do....
do....
66,040
153,849
134,297
48,944
Nondurable goods industries, total
Food and kindred products
Shipments (seas adj ) total t
By industry group:
do..;.
do
do
q,
1
H 1
' H t«
Primary metals
Blast furnaces steel mills
Fabricated metal products
Machinery except electrical
do
do
do....
do....
do
Transportation equipment
Motor vehicles and parts .-.
Instruments and related products
do....
do....
do
Food and kindred products
do
Textile mill products
Paper and allied products
do ..
do
Petroleum and coal products
Rubber and plastics products
do ..
do
1
125,499
Consumer staples
do.... '307,267
Equipment and defense prod., exc. auto .... do.... 11246,683
153,819
1
p ,
, . " |pr'al« and « innlipq
do
146,246
Ofh
. ^
,
, . "^
'
,
'747,777
Supplementary series:
'55,039
Household durables
do
Capital goods industries
do.... '277,017
Nondefense
do.... '242,591
'34,426
Defense
do
Book value (seasonally adjusted), total t
By industry group:
Durable goods industries, total #
Stone, clay, and glass products
Primary metals
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Tnstrnmani'.a and rplnt.Ad ryrndnrt.s ._ .
See footnotes at end of tables.
do...
do...
do...
240,407
159,631
80,776
do...
241,572
do....
do....
do
161,390
5,726
21,446
11,792
do....
do...
do
do....
do
do
19,888
37,468
22,749
32,166
10,887
fl 209
10,572
9,613
179,978 156,672
5,547
27,773
23,810
3,964
'5,403
5,291
27,982 '28,714
24,041 '24,602
3,941
'4,112
5,649
28,380
24,135
4,245
11,869
28,882
24,233
12,225
13,062
74,316
12,173
28,759
24,315
12,738
13,040
74,484
4,944
26,910
23,153
3,757
4,910
26,838
23,156
3,683
5,124
26,721
23,156
3,564
5,322
26,923
23,062
3,861
4,898
26,619
22,966
3,653
5,108
26,610
22,958
3,653
4,748
25,506
22,057
3,450
5,292
28,159
23,999
4,161
11,554
29,024
24,217
12,764
12,854
73,306
4,652
24,870
21,478
3,391
'57,950
'308,369
'267,211
'41,158
6,144
14,309
15,934
3,728
171,494 170,275
12,796
29,085
25,361
14,053
12,702
76,278
11,617
28,178
24,210
12,698
12,805
72,876
11,812
28,372
23,895
12,892
12,642
71,426
11,142
27,675
22,942
11,175
11,543
65,855
r
6,720
16,153
16,491
'4,227
12.572
'29^44
'25,938
15,230
12,696
'75,714
10,550
16,919
11,284
18,453
11,285
4,136
80,746
21,930
1,086
4,235
6,525
15,166
16,153
3,766
11,370
28,572
24,178
11,731
12,075
68,989
135,305
'329,448
1
277,290
'134,880
'143,461
'825,553
.
12,235
28,207
25,241
14,134
12,812
74,898
10,518
16,573
11,041
17,338
10,909
4,129
81,293
22,121
1,122
4,167
6,575
14,911
16,747
3,730
10,936
28,380
22,511
11,353
11,476
66,533
1
77,774
20,909
1,215
3,672
23,171
1,149
r
4,755
12,282
29,003
25,185
13,827
13,056
74,137
10,693
16,196
10,756
17,560
11,034
4,065
80,236
22,274
1,133
3,857
6,397
15,610
15,573
3,920
10,472
16,081
11,049
17,605
10,922
3,996
79,155
22,165
1,069
3,835
6,151
14,538
15,706
4,154
r
84,932
r
12,054
28,366
25,641
13,017
13,100
73,626
86,327
4,293
11,691
6,101
9,900
15,880
10,573
16,684
9,968
3,901
77,180
22,047
1,045
3,825
6,186
14,217
14,437
4,044
9,145
15,070
10,337
15,870
9,538
3,734
74,778
21,338
1,082
3,775
5,910
13,365
14,217
3,953
78,898
4,139
10,859
5,728
9,672
15,572
10,395
16,502
10,267
3,856
10,459
16,836
11,373
18,961
11,987
4,030
81,164
22,700
1,095
4,195
6,536
14,704
15,969
3,962
85,058
4,211
11,321
5,622
83,482
4,124
11,849
6,077
95,046
r
4,592
12,628'6,617
11,300
18,736
12,330
r
21,924
14,397
r
4,552
87,431
4,237
12,031
6,219
84,215
4,216
11,896
5,896
83,229
4,009
11,762
5,949
79,735
3,917
10,970
5,020
r
86,664 r88,770
r
4,207
4,180
11,824 11,810
6,209 r6,172
10,594 10,591
16,775 17,303
11,597 11,679
19,130 r20,440
12,257 13,378
4,208 '4,257
80,863 '82,724
21,931 '22,676
1,154
1,034
4,350 '4,467
6,426 '6,392
14,875 15,296
16,404 16,357
'4,074
3,850
83,329
4,170
12,304
6,286
10,211
16,636
10,777
16,941
10,543
4,039
81,259
22,476
1,079
4,078
6,279
14,865
16,883
3,924
82,518
3,929
11,323
5,452
10,325
16,047
10,899
17,854
11,129
3,974
78,521
21,996
1,103
3,765
6,179
14,680
15,157
4,132
75,485
3,647
10,322
4,526
9,305
14,726
10,511
15,733
9,658
3,874
75,703
22,086
1,072
3,719
5,825
13,636
14,405
4,022
75,554
3,721
10,151
4,332
By market category: t
Inventories, end of year or month: t
Book value (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
9,885
9,647
7,540
9,900 10,253
9,216
8,772
9,578
9,025
7,276
7,555
9,615
9,395
9,598
8,571
9,703
8,635
9,181
9,270
8,941
7,983
8,521
1,845,936 137,631 147,823 163,812 167,307 161,492 157,597 152,094 167,163 175,250 170,022 169,040
936,030 67,470 71,609 83,673 86,823 82,459 79,978 75,385 84,746 91,521 88,627 88,289
4,277
4,364
4,279
3,903
3,977
3,476
4,259
3,665
3,907
4,221
45,519
3,636
9,953 11,088 11,446 11,190 10,981 11,353 12,253 12,559 12,431 12,267
9,137
134,052
6,392
6,437
6,364
6,108
5,639
5,765
5,430
5,556
4,390
5,055
62,481
3,990
9,263 10,405 11,078 10,724 10,800
9,414 10,286 10,829 10,232 10,010
116,869
8,450
182,838 13,673 13,860 16,316 16,243 15,349 16,545 15,160 16,982 18,412 17,194 16,869
9,986 11,293 11,812 11,301 11,338
125,908
9,150 10,263 11,169 11,459 11,201 10,596
191,388 13,142 12,452 17,736 19,643 18,256 16,653 15,535 17,706 20,522 19,872 20,067
9,980 11,236 12,912 12,664 13,045
12,908
11,594
9,860
6,824 10,796
114,909
7,243
4,327
3,979
4,148
3,641
4,027
4,104
4,059
4,124
3,872
4,166
45,994
3,379
70,161 76,214 80,139 80,484 79,033 77,619 76,709 82,416 83,729 81,395 80,751
254J45 19,822 22,021 23,002 22,677 22,574 22,383 20,901 22,348 22,860 22,312 21,749
1,101
1,046
1,060
1,037
1,058
1,159
1,167
1,091
1,028
12,467
1,100
1,073
4,409
4,558
4,225
4,130
3,902
3,689
3,684
4,006
4,075
46,167
3,735
3,163
6,799
6,587
6,553
6,679
6,036
5,980
5,855
6,347
6,269
6,015
5,560
71,660
167,101 12,196 13,185 14,697 14,331 13,619 14,609 14,074 15,250 16,472 15,607 15,413
16,109
15,723
16,236
17,091
16,866
15,653
15,880
176,599 14,167 14,466 14,493 14,977
4,017
4,133
3,915
3,617
3,869
4,027
3,530
4,344
4,160
4,106
48,061
3,573
150,332 151,188 156,915 161,038 162,384 163,719 164,588 165,508 165,804 167,491 167,527
97,078
10,516
17,190
11,765
18,761
12,088
4,266
82,844
22,480
1,225
4,397
S,534
15,593
16,025
4,125
r
256,583 256,220 255,938 254,207 254,257 255,399 256,583 262,735 266,053 267,908 269,614 271,609
169,616 170,144 170,295 168,308 167,617 168,354 169,616 174,255 176,849 177,879 179,091 '179,959
r
86,966 86,076 85,643 85,899 86,640 87,045 86,966 88,480 89,205 90,029 90,523 91,650
266,524
267,506
269,260
256,218
257,042
257,979
261,752
264,496
256,837
257,979 257,207 256,740
'270,228 271,335
179,710 180,553
'90,518 90,782
170,275 171,603 174,223 175,620 176,229 177,123 177,635
6,398
6,390
6,509
6,223
6,145
6,369
6,062
21,919 21,976 22,771 23,240 23,640 23,402 23,163
11,881 11,844 12,190 12,454 12,722 12,362 12,112
19,522 19,773 20,129 20,034 19,812 19,799 19,796
39,313 39,189 39,317 39,582 39,618 39,705 40,070
24,396 24,383 24,756 25,083 25,057 25,589 25,457
35,786 36,810 37,623 37,810 38,111 38,305 38,427
9,605
9,489
9,376
9,147
9,694
9,612
9,568
9.380
9.645
9.372
9.581
9.239
9.281
9.330
178,676 180,735
'6,599
6,646
'23,334 23,952
12,169 12,534
19,973 20,124
'40,342 41,015
'25,689 25,919
'38,628 38,849
'9,275
9,401
'9,603
9,536
171,603 170,391 170,540 170,163 169,781
6,058
6,071
6,016
6,145
6,138
21,976 22,599 22,261 22,022 21,900
11,844 12,582 12,393 12,152 11,949
19,773 19,697 19,570 19,395 19,117
39,189 39,920 39,837 39,726 39,265
24,373 24,345 24,310 24,350 24,425
36,810 34,689 35,132 35,442 35,851
9,324
9,394
9,409
9,694
9,587
9.281
9.046
9.076
9.037
9.137
'269,709 272,207
Aug.
S-5
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Annual
1981
1980
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t—Continued
Inventories, end of year or month t—Continued
Book value (seasonally adjusted) t—Continued
By industry group—Continued
Durable goods industries—Continued
By stage of fabrication: t
Materials and supplies
mil. $
Primary metals
do
Machinery, except electrical
do.
Electrical machinery
do.
Transportation equipment
do.
Work in process #
do.
Primary metals
do.
Machinery, except electrical
do.
Electrical machinery
do.
Transportation equipment
do.
Finished goods #
do.
Primary metals
do.
Machinery, except electrical
do.
Electrical machinery
do..
Transportation equipment
do.
Nondurable goods industries, total #
do..
Food and kindred products
do..
Tobacco products
do..
Textile mill products
do..
Paper and allied products
do..
Chemicals and allied products
do..
Petroleum and coal products..
do..
Rubber and plastics products
do..
By stage of fabrication:
Materials and supplies
do..
Work in process
do..
Finished goods
do..
By market category: t
Home goods and apparel
mil. $
Equip, and defense prod., exc. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
,
Capital goods industries.
Nondefense ...
Defense
New orders, net (not seas, adj.), total t
Durable goods industries, total
Nondurable goods industries, total
New orders, net (seas, adj.), total t
By industry group:
Durable goods industries, total
Primary metals
Blast furnaces, steel mills
Nonferrous and other primary met
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
Nondurable goods industries, total ..
Industries with unfilled orders $
.Industries without unfilled orders fl
By market category: t
Home goods and apparel
Consumer staples
Equip, and defense prod., excl. auto
do..
do..
dodo..
53,33
8,97
11,06
7,39
8,28
53,18
8,86
11,05
7,32
8,26
53,80
8,92
10,99
7,22
8,83
55,29
9,42
11,00
7,49
9,12
55,87
9,52
10,94
7,48
9,25
55,49
9,40
10,84
7,34
9,59
55,85
9,13
11,12
7,57
9,62
55,28
8,69
11,06
7,55
9,54
r
55,81
'8,84
'11,21
'7,58
r
9,76
56,95
9,07
11,19
7,59
10,43
76,69
7,99
17,79
12,11
23,15
76,58
7,81
17,47
12,24
23,47
77,29
7,97
17,57
12,31
23,57
77,93
7,96
17,55
12,45
23,90
79,74
8,46
17,75
12,58
24,62
80,09
8,64
17,88
12,86
24,62
80,58
8,95
17,84
12,89
24,60
81,00
8,95
17,67
13,13
24,80
'81,93
9,15
r
!8,00
13,09
25,10
'81,76
'9,10
'17,82
'13,29
'25,02
82,21
9,33
18,26
13,43
24,70
39,86
5,09
10,64
4,70
4,07
40,01
5,10
10,71
4,98
4,03
40,10
5,05
10,64
4,86
4,13
39,88
5,02
10,75
4,85
4,01
39,85
5,10
10,69
4,78
4,09
39,79
5,07
10,68
4,76
3,947
39,86
5,09
10,64
4,70
4,07
39,18
4,87
10,55
4,68
3,87
39,66
5,07
10,75
4,72
3,930
40,149
5,28
10,93
4,824
3,917
'41,09
'5,37
'11,30
'4,81
'3,84
41,56
5,53
11,55
4,89
3,70
80,18
21,30
3,48
6,04
7,07
17,00
6,59
5,56
86,37
22,32
3,50
6,38
7,798
18,489
8,240
5,279
86,81
21,86
3,57
6,14
7,79
18,82
8,80
5,539
86,20
21,95
3,57
6,05
7,84
18,50
8,746
5,26
86,67
22,36
3,62
6,10
7,81
18,47
8,80
5,23
86,43
22,46
3,66
6,17
7,77
18,38
8,33
5,27
86,767
22,648
3,697
6,263
7,822
18,59
8,122
5,238
86,376
22,32
3,507
6,38
7,798
18,489
8,240
5,279
87,529
22,13
3,699
6,43
8,090
18,879
8,422
5,32
88,876
22,074
3,604
6,52
8,233
19,20
9,117
5,539
90,295
22,23
3,689
6,518
8,286
19,488
9,885
5,538
40,265 r40,42
5,30
5,31
10,91
11,00
4,876
4,803
3,87
3,77
90,383 91,625
22,055 22,114
3,643
3,699
6,545
6,562
8,246
8,224
19,490 20,029
9,932 10,278
5,652
5,616
'91,03
'21,86
'3,570
'6,60
'8,332
'20,218
'9,996
'5,634
91,47
22,13
3,66
6,70
8,42
20,123
9,62
5,695
33,362
12,87
33,949
35,572
14,108
36,696
35,393
13,835
37,588
34,683
13 892
34,625
35,114
13,957
37,603
35,222
13,825
37,390
35,294
13,832
37,641
35,572
14,108
36,696
36,113
14,401
37,014
36,38
14,682
37,813
36,412
14,782
39,103
36,656
14,799
38,927
36,673 '36,31
14,979 '14,607
39,973 '40,115
36,764
14,484
40,224
53,80
8,92
10,99
7,22
8,83
54,42
9,18
11,28
7,35
8,90
70,46
8,04
17,12
11,05
19,27
77,93
7,96
17,55
12,45
23,90
37,43
5,17
9,44
4,58
3,84
19,814
30,685
61,876
13,488
20,694
95,015
20,663 20,495 20,498 20,395 20,487 20,539 20,663 20,873 21,022 21,201 21,420 21,761
32,201 31,874 31,994 31,988 32,254 32,602 32,201 32,522 32,553 32,880 32,693 32,891
69,908 68,801 69,293 69,288 69,516 69,616 69,908 70,784 71,469 71,400 72,284 72,697
11,872 11,923 11,621 11,589 11,471 11,287 11,872 11,819 11,717 11,775 11,666 11,592
21,266 20,989 20,970 20,809 20,686 20,989 21,266 21,372 21,532 21,602 21,660 22,055
102,070 103,124 102,365 102,767 101,804 102,010 102,070 104,382 106,203 107,666 107,783 108,264
'21,410 21,809
'32,658 32,960
'73,240 73,565
'11,530 11,726
'22,393 22,663
'108,478 109,484
do..
do..
dodo..
9,978
9,992 10,064 10,080
9,980
9,956
9,941
9,992 10,065 10,139 10,236 10,360 10,323 '10,250 10,401
69,027
78,245 76,588 77,072 77,469 77,707 77,933 78,245 79,57
80,243 80,456 81,266 81,608 '82,376 83,067
60,421
67224 66,555 66,735 67,021 67,009 67,118 67 224 68,154 68,616 68,473 69,100 69,335 '69,676 70,365
8,606
1102
10,034 10,337 10,447 10,698 10,815 11,021 11,418 11,628 11,984 12,165 12,273 '12,700 12,702
do.... 1,770,917 1,860,708 140,637 147,422 165,215 170,629 160,864 161,700 157,134 169,653 177,003 171,926 168,602 '178,014 157,654
do.... 952,236 951,169 70,674 71,133 84,947 90,114 82,107 83,964 80,159 86,993 93,232 90,242 87,680 '93,280 80,134
do.... 818,681 909,539 69,963 76,289 80,268 80,515 78,757 77,736 76,974 82,659 83,771 81,684 80,922 '84,734 77,520
do.... 1 1,770,917 1 1,860,708 154,815 152,657 159,496 161,924 163,020 166,900 165,423 166,987 167,361 168,584 169,340 '170,913 173,095
do.... 1952,236 '951,169 80,209 76,785 82,162 83,364 83,971 86,577 81,336 85,446 86,729 87,180 88,164 '88,303 90,484
1
do
139,164 '134,057 10 576 11,176 12,214 12,908 12,629 1 1 RQA 10,617 11,872 11,739 11,831 11,809 '11,324 12,431
do.... 167,296 '63,213
4,681
5,612
6,068
6,666
6,720
5,317
5,788
5,951
6,024
6,337
6,076 '6,040
6,460
do.... 157,112 '58,694
5,104
4,678
5,068
5,124
4,783
4,718
4,223
4,943
4,580
4,475
4,612 '4,235
4,825
1
1
do.... 118,122 115,993
9,079
8,948
9,375 10,466 10,502 10,912 10,063 10,604 10,556 10,291 10,607 '10,979 10,957
do.... 1 174,481 1 182,782 15,738 14,359 16,316 15,707 16,333 18,030 17,718 15,876 16,740 17,504 17,082 '17,303 17,032
do
'118,430 '130,744 10334 11,050 10,513 11,366 11,693 11,051 11,416 11,290 11,666 11,960 11,721 '12,600 12,060
do.... '222,639 '202,676 19,682 16,437 18,141 16,780 16,592 18,177 17,825 18,633 19,428 18,698 20,093 '19,057 20,792
do.... '65,198 '63,658
7,794
4,569
4,989
3,615
3,693
5,111
4,465
5,118
6,324
3,777
5,803 '4,083
6,132
do
'818,681 '909,539 74,605 75,872 77,334 78,560 79,049 80,323 81,216 81,541 80,632 81,404 81,176 '82,610 82,611
1
do.... 170,301 '184,074 15,117 15,213 15,958 15,717 15,691 16,072 16,123 16,936 16,666 17,083 17,052 '16,814 16,881
do.... '648,380 '725,465 59,488 60,659 61,376 62,843 63,358 64,251 65,093 64,606 63,966 64,321 64,124 '65,796 65,730
do.... '125,037 '134,892
do.... '307,300 '329,506
do.... '272,908 '291,959
1
152,456 '133,322
do.... 1 146,659 '142,793
do
'766,557 '828,236
10,986
27,660
25,373
11,190
11,423
68,184
10,960
28,389
23,770
11,179
11,336
67,024
11,384
28,568
25,902
11,854
11,985
69,804
11,755
28,361
23,535
13,105
12,812
72,356
11,516
28,169
24,406
12,874
12,821
73,235
11,623
29,035
27,534
12,828
12,857
73,023
12,009
28,908
26,746
12,281
12,869
72,611
12,494
28,746
24,742
12,922
13,001
75,082
12,245
28,376
26,834
13,089
13,154
73,662
12,328
29,075
25,606
13,822
12,843
74,909
12,083
28,188
25,365
14,258
12,755
76,691
'55,000 '58,183
'326,752
270,115 '270,571
'40,717 '56,181
4,592
30,339
23,524
6,815
4,719
26,198
21,283
4,915
4,945
28,187
22,518
5,669
5,100
25,611
21,625
3,986
4,861
26,707
23,350
3,357
5,040
29,656
24,664
4,991
5,264
29,353
24,823
4,530
5,675
27,436
21,185
6,251
5,473
29,307
24,460
4,848
5,603
28,699
24,723
3,976
5,119
'5,625
29,248 '28,186
23,865 '23,230
5,383 '4,956
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
do....
Capital goods industries
do....
Nondefense
do....
Defense
do
Unfilled orders, end of year or month (unadjusted),
total t
..
mil. $..
Durable goods industries, total
do....
Nondur. goods ind. with unfilled orders $
do....
Unfilled orders, end of year or month (seasonally
adjusted) total t
mil. $..
By industry group:
Durable goods industries, total #
do....
Primary metals
do
Blast furnaces, steel mills
do....
Nonferrous and other primary met
do....
Fabricated metal products
do....
Machinery, except electrical
do....
Electrical machinery
do....
Transportation equipment
do....
Aircraft, missiles, and parts
do....
Nondur. goods ind. with unfilled orders $ ., do....
By market category: t
Home goods, apparel, consumer staples
do....
Equip, and defense prod., incl. auto
do....
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do....
Capital goods industries
do....
Nondefense
do....
Defense....
do....
See footnotes at end of tables.
53,58
9,00
11,17
7,37
8,27
75,95
8,30
17,92
12,00
21,75
53,73
9,04
11,25
7,38
8,36
76,70
8,16
17,94
12,06
22,62
53,49
8,22
10,90
7,10
9,04
1
310,832
1
'12,776
'29,384
r
25,025
'15,083
'13,166
'75,479
12,821
29,102
27,844
14,173
12,843 .
76,312
5,635
30,537
25,069
5,468
302,889
291,856
11,033
317,661 309,862 309,461 310,864 314,186 313,558 317,661 322,700 325,192 326,943 328,847 328,411 326,446 327,431
306,995 299,272 298,796 300,070 303,361 303,009 306,995 311,769 314,017 315,727 317,342 316,736 314,968 316,207
10,666 10,590 10,665 10,794 10,825 10,549 10,666 10,931 11,175 11,216 11,505 11,675 '11,478 11,224
304,963
319,729 310,977 312,446 315,027 315,912 316,547 319,729 320,566 322,045 323,602 324,694 326,508
293,668
30,220
16,684
8,795
308,815 300,405 301,705 304,133 304,978 305,720 308,815 309,695 310,926 312,598 313,450 314,954 314,477 317,536
30,248 25,912 26,766 28,010 29,596 30,463 30,248 28,561 28,536 28,955 29,095 29,080 '28,595 28,995
17,439 13,607 14,694 15,742 16,956 17,728 17,439 16,469 16,524 16,926 17,161 17,028 '16,897 17,138
9,008
8,458
8,323
8,476
8,846
8,936
9,008
8,391
8,499
8,557
8,572
8,712
'8,425
8,525
30,189 30,684 30,326 29,800 29,941 29,971 30,189 30,041 30,127 30,134 29,964 29,975 '30,362 30,804
74,396 72,581 72,215 72,650 72,310 72,562 74,396 75,478 74,781 74,602 75,270 75,580 '75,578 75,419
47,225 45,339 45,879 45,819 46,286 46,930 47,225 47,863 48,112 48,494 49,082 49,207 '50,124 50,421
113,043 112,352 113,057 114,513 113,439 112,426 113,043 113,928 15,223 16,198 15,934 116,900 115,515 117,549
88,371 89,540 90,121 90,466 89,376 88,440 88,371 89,122 89,993 91,299 90,249 91,319 '90,504 92,092
10,913 10,572 10,740 10,895 10,933 10,827 10,913 10,870 11,119 11,005 11,244 11,554 '11,441 11,209
31,062
74,318
42,335
101,898
75,867
11,295
325,918 328,745
4,393
173,693
18,276
108,600
3,988
186,876
17,587
111,277
4,043
80,341
17,629
08,964
4,075
81,426
17,489
09,456
4,085
4,017
83,272 183,124
17,399 17,569
10,270 11,201
3,907
3,988
4,153
83,496 186,876 189,446
17,585 17,587 17,394
11,560 11,277 109,572
4,462
90,058
17,355
10,170
4,664
91,324
17,409
10,206
4,782
91,739
17,195
10,978
4,609
91,990
17,137
12,772
'4,854
190,926
17,607
112,531
4,895
93,533
17,748
12,569
3,302
197,598
144,066
53,532
2,954
216,028
147,673
68,355
3,046
11,517
47,944
63,573
3,076
12,846
47,749
65,097
3,084
3,026
14,413 213,413
47,300 45,968
67,113 67,445
2,886
2,954
3,094
13,211 216,028 218,661
46,165 47,673 49,340
67,046 68,355 69,321
3,447
19,174
47,463
71,711
3,628
20,323
47,924
72,398
3,684
21,248
48,838
72,410
3,511
'3,732
22,518 222,984
48,666 L47,288
73,852 74,696
3,718
24,144
48,223
75,921
Aug.
S-6
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
September 1981
1980
Annual
Aug.
July
Sept.
1981
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
52032
49,574
June
May
Aug.
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS $
New incorporations (50 States and Dist. Col.):
Unadjusted
number
Seasonally adjusted ..
do
INDUSTRIAL AND COMMERCIAL
FAILURES *
Failures total
number
p ,
,.
,
Manufacturing and mining
do
Retail trade
do
Wholesale trade
do
Commercial service
]k/r
f
j.
• 'L
J
do
• • _
J
Retail trade
do
Failure annual rate (seasonally adjusted)
JNO. per u,
concerns..
524 565
7564
930
1378
1 165
3 183
908
2 667 362
347 749
291 323
970'l78
636 859
421 253
1
27 8
533 520
46 151
44058
41865
43266
44923
46488
11 742
1 141
1009
926
154
126
121
1594
2355
215
221
190
1599
164
160
134
492
400
363
4910
116
102
118
1 284
4 635 080 445 693 345 408 1 002 944
413 502 43610 46 133 26842
752 109 49079 60678 41 318
1 885 017 178*373 108 231 804 390
993 539 84 811 81 870 56491
590 913 89820 48 496 73903
142 1
520
45 4
450
49023
47225
39691
43834
48940
51,807
46960
45864
42935
47662
51278
47927
1323
860
130
168
104
373
85
1015
1 109
1 133
1212
'l73
211
282
147
532
151
150
190
150
421
104
155
229
150
468
107
153
228
156
494
102
228
180
505
126
359 242 239 344 288 298 421 360 789 205 485 335
50288 54564 27 466 124 915 34309 40,629
59 971 29822 46720 69030 54 401 51853
106*539 59565 65 828 98 765 522 110 219 521
86849 62195 124*397 99301 88002 87064
55595 33 198 23887 29349 90383 86268
56 8
39 2
468
486
478
476
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS
Prices received, all farm products
Crops #
Commercial vegetables
Cotton....
Feed grains and hay
Food grains ..
Fruit
Tobacco
Livestock and products $
Dairy products
Meat animals
Poultry and eggs
.
..
1910-14=100..
do....
do....
do....
. . . . do. ..
do....
do....
do....
do....
do....
do
do....
Prices paid:
Production items
do ..
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14= 100..
Parity ratio §
••
CONSUMER PRICES H
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
do....
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W) H
1967—100..
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U) U
1967 — 100..
Special group indexes:
All items less shelter
. do
All items less
food
.
do....
All items less medical care
do....
-""Nondurables
.
Nondurables less food
Durables
Commodities less food
.•
Services less rent
Food #
Food at home *
do,...
do .
do....
do ...
do....
do....
do....
Shelter #
do....
Rent residential
..
...
do ...
Homeownership
do
Fuel and utilities 4£
.
.. do ..
Fuel oil, coal, and bottled gas
do....
Gas (piped) and electricity
do...
Household furnishings and operation
do...
Apparel and upkeep . . ..
Transportation
Private
.
New cars
Used cars
. . . .
Public
. .
Medical care
Seasonally Adjusted f
do...
do
do...
do
do ..
do...
do
All items percent change from previous month
Commodities
1967= 100.
Commodities less food
do...
Food
do ..
Apparel and upkeep
Transportation
Private
..
New cars
See footnotes at end of tables.
do
do
do ..
do...
602
615
617
643
r
651
651
660
661
659
657
655
653
650
649
646
631
607
615
655
479
499
483
1,226
612
640
683
490
498
428
1,300
622
695
649
491
497
432
1,296
621
796
603
492
492
415
1,296
632
833
610
491
486
458
1,297
619
662
618
492
486
445
1,300
619
648
610
494
471
511
1,304
594
594
600
478
439
470
1,304
'589
r
658
r
593
r
463
r
436
r
403
1,369
567
636
572
426
437
485
1,409
677
844
822
270
687
832
851
264
680
826
845
254
704
820
890
261
'704
820
r
885
270
697
826
872
265
501
548
490
360
403
534
1,145
541
562
602
417
452
469
1,219
542
525
632
422
443
468
1,126
568
549
676
446
455
448
1,204
582
573
687
458
458
472
1,291
582
552
636
465
482
500
1,243
708
736
937
252
691
798
878
255
695
771
895
258
721
783
930
274
721
807
914
285
724
838
909
280
715
856
879
290
711
863
864
298
697
863
848
279
693
856
845
275
725
720
810
802
809
796
819
810
828
822
835
828
847
836
851
838
862
851
(2)
854
858
868
868
871
'864
862
850
955
955
965
974
981
989
993
1,016
1,020
1,026
1,033
1,035
1,039
1,037
1,039
71
64
65
67
67
66
67
67
65
65
64
63
63
62
62
61
217.7
247.0
248.0
249.6
251.9
254.1
256.4
258.7
260.7
263.5
265.2
266.8
269.1
271.4
274.6
276.5
217.4
246.8
247.8
249.4
251.7
253.9
256.2
258.4
260.5
263.2
265.1
266.8
269.0
271.3
274.4
276.5
210.8
213.0
216.1
208.4
215.9
198.7
191.1
195.1
234.2
244.9
235.5
244.0
245.5
233.9
245.0
235.2
210.4
222.0
270.3
285.1
254.6
251.5
263.3
281.7
191.6
314.0
278.6
556.0
301.8
205.4
236.4
245.1
246.5
234.1
245.9
236.6
209.8
222.2
272.4
287.6
254.8
251.5
265.1
282.9
192.1
315.4
285.5
560.4
314.3
206.2
238.5
246.3
248.1
236.7
248.3
237.8
212.4
224.2
272.5
287.4
258.7
256.3
265.8
283.3
193.2
315.4
286.8
561.5
316.1
207.2
241.0
248.6
250.4
239.0
250.2
239.3
215.3
226.6
274.8
289.8
242.1
250.9
252.6
240.7
251.0
239.6
218.1
228.3
277.9
293.2
247.6
257.6
259.2
245.4
256.9
245.3
221.0
232.4
287.7
304.2
268.6
265.6
279.1
300.1
200.9
335.8
296.7
625.9
318.5
212.6
257.8
269.5
269.9
253.2
266.2
258.0
226.6
241.1
303.5
321.9
273.6
268.7
292.2
312.6
206.8
350.4
320.2
682.0
350.2
221.1
176.2
251.0
250.5
179.2
203.4
250.5
266.6
178.6
252.7
251.6
181.1
206.4
261.5
268.4
182.2
254.7
253.2
181.7
214.6
271.0
270.6
183.9
261.1
259.4
184.5
234.4
280.1
275.8
181.1
264.7
262.9
185.3
234.0
286.4
279.5
182.0
270.9
269.4
184.8
234.3
288.1
282.6
254.9
264.2
265.4
250.8
265.9
258.1
221.1
238.0
295.4
312.8
272.9
268.7
284.8
303.8
204.2
339.3
310.5
690.6
330.6
219.2
186.4
275.3
273.4
186.1
239.1
297.2
287.0
256.2
267.0
267.6
251.9
265.8
258.2
223.9
239.6
299.6
317.4
272.5
267.7
288.5
308.4
205.9
345.0
314.9
685.8
339.6
220.1
178.4
249.7
249.2
253.3
262.3
263.7
249.8
265.2
257.5
219.8
237.0
292.5
309.5
272.2
268.6
282.6
301.6
203.0
336.8
308.4
693.4
326.7
216.9
185.1
273.5
271.7
182.9
235.4
293.9
284.7
186.4
277.8
276.0
190.9
245.2
297.7
289.0
185.8
279.9
277.9
192.2
252.9
303.9
291.5
259.9
272.7
273.0
255.0
267.1
257.5
229.6
242.6
308.8
328.1
276.2
271.6
297.0
318.5
207.8
358.0
325.1
677.9
357.6
222.4
184.7
282.6
279.6
192.5
260.3
323.1
295.6
261.4
274.9
274.9
256.2
268.1
258.4
230.9
243.8
312.2
331.7
262.4
260.0
271.1
290.4
197.1
323.8
287.6
558.7
317.1
210.1
183.9
256.1
254.5
181.9
222.7
273.6
272.8
245.2
255.5
257.1
243.8
254.1
242.0
.221.1
231.0
284.7
300.7
266.4
263.9
276.9
298.5
199.6
334.2
289.9
585.3
313.9
211.6
251.2
260.4
261.9
248.3
262.3
253.2
220.3
235.4
290.1
306.9
261.1
258.9
267.7
285.3
195.1
317.6
288.2
"561.5
318.4
209.2
243.6
253.2
254.9
242.5
252.4
240.5
220.6
230.0
280.9
296.4
264.5
262.1
273.8
294.7
198.3
329.4
285.7
567.0
310.5
211.0
184.8
259.0
257.4
184.3
230.8
277.0
274.5
0.1
233.0
221.3
252.9
248.7
0.8
235.9
223.4
257.6
254.6
1.0
238.9
225.9
262.0
259.8
1.0
241.1
228.0
264.4
262.2
1.1
243.5
230.0
267.6
265.6
1.0
245.2
231.3
270.2
268.0
0.7
246.6
233.6
269.8
266.9
1.0
249.2
236.8
270.6
266.8
0.6
250.5
238.1
271.6
267.9
0.4
250.5
238.1
271.6
267.3
0.7
250.9
239.0
271.0
266.0
0.7
251.8
239.9
271.5
266.2
1.2
253.7
241.6
273.8
268.6
185.8
275.9
274.2
182.5
292.6
186.1
275.7
273.8
185.7
185.7
185.8
186.8
0.8
255.2
242.9
275.9
270.9
188.3
276.5
274.7
190.1
279.4
276.1
193.3
281.1
277.7
193.4
295.4
299.6
277.2
275.0
192.2
303.1
308.5
312.1
234.5
232.9
227.6
239.7
176.0
262.4
239.3
403.1
257.8
190.3
166.6
212.0
212.3
166.0
201.0
200.3
239.7
179;3
208.1
251.6
265.9
270.8
267.3
280.9
300.5
201.9
335.8
304.5
675.6
322.9
214.9
178.1
179.4
180.9
182.8
182.5
184.0
250.4
249.4
182.6
254.0
252.6
184.9
182.1
256.6
255.1
183.3
182.8
248.2
247.7
179.9
259.9
258.4
183.5
267.0
265.3
183.5
273.4
272.0
183.3
272.4
272.7
274.6
277.9
281.5
262.4
260.9
183.3
285.5
288.0
290.3
277.4
272.8
299.7
322.0
210.3
361.8
327.8
674.6
360.8
222.9
187.4
283.7
280.5
191.9
266.9
326.5
299.3
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
S-7
SURVEY OF CURRENT BUSINESS
September 1981
1979
Annual
1981
1980
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
COMMODITY PRICES—Continued
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
Spot market prices, basic commodities:
22 Commodities ... ..
. . .
1967—100
9 Foodstuffs
do..
13 Raw industrials .
do
All commodities
do
By stage of processing: t
Crude materials for further processing
do..
Intermediate materials, supplies, etc
doFinished goods •$
do
Finished consumer goods
do..
Capital equipment
do..
By durability of product:
Durable goods
do
Nondurable goods .
do
Total manufactures
do
Durable manufactures
do..
Nondurable manufactures
do..
Farm prod., processed foods and feeds...
do..
Farm products #
doFruits and vegetables, fresh and dried.... do...
Grains
.
do
Live poultry ..
do
Livestock
.
.
do
Foods and feeds, processed # . . .
do
Beverages and beverage materials
do...
Cereal and bakery products
do
Dairy products
do
Fruits and vegetables processed
do
Meats, poultry, and
fish
do...
Industrial commodities
do..
Chemicals and allied products #
do...
Agric. chemicals and chem prod .
do
Chemicals, industrial
do
Drugs and Pharmaceuticals
do....
Fats and oils, inedible......
do....
Prepared paint ...
do
Fuels and related prod., and power #
do....
Coal..
do
Electric power
do.
Gas fuels
do
Petroleum products, refined
do
Furniture and household durables #
do....
Appliances, household
do.. .
Furniture, household ...
do
Home electronic equipment
do
Hides, skins, and leather products #
do....
Footwear ... ..
do
Hides and skins
do....
Leather
do
Lumber and wood products
do....
Lumber
,
. ..
do
Machinery and equipment #
do
Agricultural machinery and equip
do....
Construction machinery and equip
do....
Electrical machinery and equip
do....
Metalworkmg machinery and equip..
do....
Metals and metal products #
do....
Heating equipment
do
Iron and steel
do
Nonferrous metals
do.
Nonmetallic mineral products #
, do....
Clay prod., structural, excl, refrac
do....
Concrete products
do.
Gypsum products ..
do
Pulp, paper, and allied products
do....
Paper
do
Rubber and plastics products
do....
Tires and tubes......
do
Textile products and apparel
do....
Synthetic
fibers
Dec. 1975=100..
Processed yarns and threads
do
Gray fabrics
do
Finished fabrics
do.
Apparel
1967=100..
Textile house furnishings
do....
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967=100..
Seasonally Adjusted $
Finished goods, percent change from previous
month *
By stage of processing: t
Crude materials for further processing 1967—100..
Intermediate materials, supplies, etc
do
Finished goods #
do. ..
Finished consumer goods
do
Food
do
Finished goods, exc. foods
do....
Durable
do
Nondurable
do. ..
Capital equipment
,
do....
See footnotes at end of tables.
'277 1
'2556
*2930
2356
*2835
*2643
12979
274.3
243.2
2177
217.9
2165
2269
2417
2288
2261
231.1
229.8
241.4
229.0
2148
1943
2603
2225
210.7
2103
2112
2219
242.0
2365
222.3
214 4
2640
159.4
376.7
2044
408.1
4509
2702
5441
4448
171.3
1609
1863
91 3
252.4
2180
535.4
3567
300.4
3543
2139
232.1
256.2
178.9
241.3
259.3
187 1
2835
2617
248.6
217.9
2441
2523
219.0
2296
194.3
2059
168.7
119.0
1092
127 1
1074
160.4
190.4
188.1
190.5
2738
2928
2848
2983
2746
2966
2903
3008
2778
2984
2894
3047
279 1
2877
2726
298 4
2808
2817
2677
291 6
2848
2734
2585
284 2
2876
275
2550
2898
2903
2760
2530
2930
'293 4
269 7
244 0
2889
293 7
294 5
2960
296 2
317.0
284.3
251 4
254.1
2419
319.3
285.3
251 4
254.1
241 8
322.8
287.7
2554
257.0
2492
324.6
289.1
2562
257.9
2502
323.5
291.9
2572
258.9
2509
328.0
296.1
260 9
262.5
2546
336.5
298.3
2633
265.0
2567
334.2
302.0
2660
268.2
258 ]
r
336.3
'305.8
'2685
'270.6
'2608
333.2
306.6
268 9
270.6
2626
334.3
307: 1
269 9
271.5
2640
336.2
308.6
271 3
272.8
265 7
333.2
309.9
271 2
272.6
2659
2531
2903
2657
2527
279.5
255.1
263.8
254.0
2565
2245
275 7
2494
237.1
235 8
2326
2307
259.9
278 2
264.4
2600
3300
176.1
307.6
2388
590.6
4687
3336
7726
697 6
188.9
1763
2080
91 3
251.3
2337
398.4
3142
296.1
333 7
2426
259.9
293.4
205.0
278.8
285.1
2080
3026
2984
286.0
229.7
2760
251 8
252.4
258 6
220.5
2380
185.6
137.5
1232
1375
1168
175.1
211.0
208.8
211.7
2537
291 2
2658
2531
279.5
256,5
267.0
266.2
2606
241 0
266 8
2498
236.1
238 3
2337
231 3
257.8
2788
263.4
2606
327 5
176.8
304.5
239 3
593.5
471 3
3383
7862
6964
189.5
177 2
2085
91 6
247.8
2355
356.1
298 1
292.2
3280
244 7
263.9
295.7
206.0
280.2
287.3
2088
304 5
3022
286.8
230.1
277 3
251 8
252.8
2587
222.0
242 1
186.6
139.5
124 3
141 0
117 0
175.0
212.9
204.4
205.6
2584
2930
2696
2578
282.1
259.4
263.6
240.9
2692
2229
2630
256 1
239.5
241 5
2380
2338
256.0
2820
264.8
2606
3300
178.4
302.0
239 3
592.9
4707
3374
8022
6904
190.9
177 5
2098
91 5
251.2
2366
381.5
301 9
289.0
3206
2468
265.4
299.1
207.0
282.5
291.9
210 6
3105
3094
288.6
233.3
2775
2495
254.3
262 1
222.8
245 2
188.1
140.2
125 1
143 5
118 3
176.2
213.8
217.4
218.2
2586
295 2
2705
2579
284.0
260.5
264.9
246.6
2709
221 0
254 8
2572
240.6
245 3
240 2
234 7
250.9
2834
266.7
261 1
3327
181.1
308.2
241 4
261 o
296 3
2720
2604
284.3
257.0
265.3
245.1
265 2
218 9
251 4
251 5
240.5
248 7
2423
236 6
248.1
2866
268.1
263 3
3346
182.6
317.1
241 4
615.7
475 3
3376
844 3
7170
193.1
179 5
212 1
91 0
256.9
236 9
392.8
3324
299.4
3330
249 g
272.9
301.4
208.9
285.7
290.6
214 0
316 4
2934
291.2
233.6
2776
252 7
256.7
269 4
223.3
245 2
190.4
140.8
128 2
144 0
120 1
177.5
214.3
224.3
226.2
262 7
2638
2649
306 8
302 6
310 9
2773
2793
2823
2623
2634
2644
296.4
293,5
301.7
257.9
255.1
253.5
264.5
262.4
260.7
275.1 '292.8
258.7
277 7
267 5
261 8
213 1 220 8
213 5
244 6
244 3
239 3
250 2
253 3
248 5
243.0
244.8
245.4
251 5 252 i
252 2
2447
2450 '245
1
238 4
243 7 r255 2
248.1
243.6
242.0
291 5 2957
299 6
274.3
277.6
280.4
275 g
267 6
271 6
352 i '354 5
344 5
184.7
187.3
189.3
310.7
289.7 r 295.7
94fi ft
94fi ft
242 9
634.6
667.5 r 696.5
477 8
480 8
481 1
341 4
3462 r351 2
QQQ Q
857 1
881 6
736 9
769 6
825 5
194.0
195.2
195.8
1822
1835 r!84 2
212 9
213 8 r214 5
rQT A
91 1
91 3
258.2
257.7 r 261.2
238 4
240 7
240 4
(2)
377.5
367.4
3100
3326
3225
296.5
294.7
294.4
331 3
326 9
326 2
257 5
253 3
255 3
276.4
278.4 rr279.8
310.0
305.9
312.8
213.7
211.9
216.0
289.7
291.6
294.9
294.0
294.0 r 296.4
216 6
217 6
219 5
323 0
323 2
328 2
287 4
292 1
2865
297.9 r 300.9
296.6
239.5
239.8
244.6
286 2
286 6
286 9
257 3
259 6
257 6
264.4
267.2 r 269.0
271 7
272 9
273 8
224.8
226.4 r 228.4
243 5
240 9
248 6
193.9
193.1
195.2
146.5
147.1 148.9
129 8
130 3 rr!34 6
143 6 144 0 r144 7
122 2
122 9
!23 2
179.9
180.7 181.4
219.8
221.3 '221.3
227.4
229.1
228.1
229.0
230.9
229.5
'2678
'314 2
'2853
'267 2
'304.9
'253.8
'263.3
'286.1
264 7
195 4
2466
'247 6
'246.0
'253 9
'245 4
'258 0
'239.1
'303 5
'286.0
'277 8
'362 4
'191.0
312.7
268 4
314 1
2860
2680
305.4
252.6
259.5
273.9
257 7
207 2
251 8
248 0
245.0
2689
315 ]
286 7
268 7
306.2
254.1
260.3
258.6
257 i
210 0
263 0
249 7
245.5
256 0
245 6
270 7
316 3
288 0
270 6
306.8
256.6
263.1
265.0
257 4
271 8
315 9
288 4
271 6
306.6
253.9
257.8
257.3
242 7
266 5
252 1
246.3
262 0
245 5
245 6
2887
2837
292
2688
2746
2700
2776
2704
304.2
280.1
2468
248.8
2395
304.3
281.6
249 3
251.7
2406
2515
2824
2615
2508
273.0
244.7
249.4
238.6
2390
202 1
2527
2412
233.0
2360
2306
228 7
243.1
2745
260.3
257 1
3240
174.5
298.0
2353
574.0
4673
3216
7607
6747
187,7
1742
2048
91 4
248.9
233 1
370.9
3106
288.9
3258
2398
259.2
289.4
201.7
274.4
286.4
2065
3052
3050
283.0
231.5
2739
2563
249.2
2568
217.4
2369
183.5
134.7
1225
138 1
1157
172.4
206.9
207.0
208.8
2512
285 6
2630
2510
275.9
246.6
254.3
252.0
2448
227 2
2605
241 5
234.6
234 7
2301
2298
248.5
2762
263.3
2587
328 7
175.7
260.0
2388
585.5
467 5
331 1
762 1
6939
188.0
1758
2065
91 7
245.1
2327
356.6
2922
289.2
327 2
241 5
258.6
291.5
203.7
278.0
282.5
206 2
3006
2926
284.8
230.1
2759
253 1
251.7
258 2
218.8
2380
184.7
136.0
1224
135 7
1166
174.4
210.7
206.2
208.6
600.2
475 4
3338
825 5
6976
191.5
1785
2109
91 2
255.4
237 5
409.1
3173
293.4
324 9
248 3
271.6
300.1
207.5
283.9
291.1
212 0
3127
302 1
288.7
233.5
277 7
253 3
255.0
264 1
223.4
245 2
189.6
140.7
125 8
145 0
119 1
176.8
213.8
217.8
218.6
ro/iQ 1
'707.2
'486 1
'355 5
ton? Q
'840 9
196.4
'185 1
'216 5
ran Q
OKC 1
245 0
Oftfi 1
(2)
(2)
(2)
9K7 9
9cq q
9ftfi ^
91ft Q
9*>ft 7
246.3
9KC C
9R7 ft
244.8
304 1
288.2
970 a
366 6
192.3
312.1
OCA A
369 4
193.2
303.1
9KA A
9K-I A
9K1 A
706.0
704.9
703.4
704.1
360 7
366 9
AQiJ 7
Qftft o
QOK A
197.5
184 2
217 6
QI n
248.3
304 7
290.3
OQQ Q
AQ-t Q
1
254.2
qnc A
qr»7 A
291.4
988 Q
293.2
9qq o
370 4
195.4
290.9
195.6
305.6
CAJT 7
q71 Q
Cft7 q
374 Q
qoq a
Q4ft ft
QK9 A-
827 7
197.1
184 8
Q-J Q A
Of q A
198.9
187 5
199.5
187 7
918 Q
99ft 4
262.1
941 Q
949 Q
317 4
295.5
312 2
294.3
oc Q
265.9
941 1
262.8
94.1 n
3378
'299.4
'333 6
'259 6
'282.5
'317.0
'217.4
'298.7
'298.8
337 0
297.8
334 9
260 6
284.4
318.3
218.0
299.5
299.2
321 0
297.9
335 0
261 9
285.9
320.0
219.0
300.9
298.5
'331 0
'288 4
'310.8
'246.0
'289 9
256 8
'271.4
'275 2
'230.8
'250 7
'197.6
'151.5
r'135 0
id.fi ft
'124 9
'184.3
'222.1
'231.9
'233.9
330 6
287 8
311.7
249.6
290 7
261 1
271.6
276 1
232.0
250 8
198.0
156.7
137 1
329 9
284 9
312.8
249.5
293 2
-\A(* -I
1 38 Q
14ft ft
124 7
182.4
231.1
233.2
235.3
124 8
185.0
228.1
234.1
236.4
991 7
257.1
QOI C
'263.5
241 1
rOlOQ
91 K q
999 Q
07 -I
qqn i
991 4
07 K
261.7
q9Q q
9ft4 ^
9fift O
287.3
324.0
221.0
303.0
302.5
289.3
324.9
222.8
303.6
304.3
997 9
99*? 7
qqo 7
qqn 7
283 3
313.9
250.3
287 7
314.0
250,4
9QO A
9QO A
9ftO 7
9CQ 7
9KE q
272.7
278 8
233.7
250 8
199.5
158.2
273.8
275.7
223.5
234.4
200.5
158.6
201.4
162.0
OQft O
9K-I (]
900 o
9K-J A
1 9^4 9
1 3Q Q
1 4ft 9
19K Q
186.2
231.6
235.3
237.5
186.5
231.6
235.8
238.1
1 3Q ft
17
12
03
09
07
04
12
08
12
'0 8
'0 1
06
04
03
3036
2810
2490
251 2
2406
2508
2077
2878
241.1
3175
2837
2520
254 3
2470
2523
2094
2891
243.6
3218
285 2
2527
255 1
2483
2528
209 1
2903
243.9
3272
2876
2551
257 1
2500
2548
2123
2914
248.1
3307
2902
2569
2589
2508
2601
2133
2948
249.7
328 1
2935
2578
2597
2509
2612
2129
2974
250.8
3288
2974
2608
262 7
251 1
2653
2136
303 9
253.7
3324
2985
2628
2646
2495
2687
214 7
3090
25fi1
328 1
301 6
266 0
268 1
251 9
2726
214 o
3163
'3328
'304 6
'268 1
'270 2
'251 6
'275 7
'215 7
'320 4
330 1
305 9
268 3
269 9
251 0
2756
217 5
3190
334 1
306 7
269 8
271 3
252 2
277 o
218 6
3207
335 9
307 9
271 0
3339
309 2
271 8
979 9
979 Q
255 9
276 8
218 1
320 6
256 4
277 5
219 4
320 8
2580
r2fi04
9fi94
9fi43
9fifi9
9ft77
S-8
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
SURVEY OF CURRENT BUSINESS
1979
1980
Annual
September 1981
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
COMMODITY PRICES—Continued
PRODUCER PRICES—Continued
(U.S. Department of Labor Indexes)— Continued
Seasonally Adjusted
By durability of product:
Total manufactures
1967 — 100
Durable manufactures . ..
do
Nondurable manufactures
do
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
fl
1967— $1.00..
Consumer prices ±
do....
0.459
0.460
0.405
0.405
2625
2513
2745
2660
2530
2795
2657
2528
2794
2685
2557
2824
2705
2574
2853
2733
2612
2859
(2)
0401
0.404
0.398
0.401
0.398
0.397
0.392
0.394
0.390
0.390
0.389
0.387
0.383
0.384
H
(2)
0.380
0.380
0.376
0.377
r
0.371
0.369
0.369
0.364
19,484 r20,396 r21,796
15,333 16,012
16,891
7,871 r8,362 r8,567
5,524 r5,613 1 r5,801
21,636
16,733
8,294
5,699
r
5,073
1,370
r
2,875
5,224
1,419
2,997
r
611
4,905
1,550
157
187
148
1,465
4,903
1,568
143
182
153
1,441
r
238.7
186.9
r
91.4
r
64.2
235.1
185.1
87.9
60.5
0.372
0.375
0.372
0.372
0.369
0.362
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
230,781
New construction (unadjusted) total
mil $
181,691
Private total #
'
do
99,030
Residential
do
78,587
New housing units
do..
Nonresidential buildings, except farm and
47,298
public utilities total #
mil $
14,950
Industrial
.. do
24,924
Commercial
do....
Public utilities:
Telephone and telegraph
do....
6,343
49,090
Public total #
do....
15,857
Buildings (excluding military) #
do....
Housing and redevelopment
do
1,211
Industrial
.
.. do
1,411
1,647
Military facilities
...
do....
11,996
Highways and streets
do
New construction (seasonally adjusted at annual
rates) total
bil. $
Private total #
do
Residential
do
New housing units
do....
Nonresidential buildings, except farm and
public utilities total #
bil. $..
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do
Public total #
do
Housing and redevelopment
. do
Industrial .. .
do....
Military facilities
do....
Highways and streets
do
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation total
mil. $ 168,446
Index (mo data seas adj ) i±
1972 100
'186
Public ownership
mil. $.. 46,646
121,800
Private ownership
do
By type of building:
50,206
Nonresidential
..
.. do..
74,557
Residential
do
43,683
New construction planning
(Engineering News-Record) §
do.... 135,005
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous.. 1,760.0
Privately owned
.. do.... 1,745.1
One-family structures
do.... 1,194.1
Seasonally adjusted at annual rates:
Total privately owned @ @
do
One-family structures @ @
do....
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
1,552
Total ..
thous..
982
One-family structures
do....
Manufacturers' shipments of mobile homes
277.4
Unadjusted
thous..
Seasonallv adiusted at annual rates
do....
See footnotes at end of tables-.
230,273
174,897
87,261
63,139
20,048
14,613
7,131
4,998
20,500
14,978
7,560
5,415
21,309
15,527
7,938
5,850
21,477
16,132
8,248
6,165
20,319
15,702
8,292
6,199
19,696
15,413
7,480
5,424
16,882
13,190
6,623
4,920
16,184
12,689
6,178
4,668
18,020
14,182
6,924
5,242
52,434
13,837
29,945
4,479
1,154
2,599
4,522
1,138
2,645
4,547
1,165
2,610
4,664
1,129
2,729
4,570
1,132
2,636
4,536
1,228
2,548
4,110
1,093
2,324
4,042
1,063
2,283
4,450
1,252
2,457
4,614
1,239
2,609
6,733
55,376
18,864
1,648
1,788
1,880
13,785
583
5,434
1,686
146
150
176
1,595
564
5,522
1,804
133
145
199
1,543
595
5,782
1,828
144
201
175
1,666
617
5,345
1,665
162
107
157
1,627
528
4,617
1,612
149
111
152
1,145
545
4?283
1,620
152
174
149
824
456
3,693
1,499
150
180
140
664
455
3,496
1,361
140
135
170
594
588
3,839
1,508
147
178
135
653
557
566
4,384
4,151
1,504
1,493
160
161
170
191
152 \ 154
1,061
880
216.4
161.5
75.6
53.1
217.9
163.5
79.3
56.3
224.6
169.1
84.5
60.7
228.9
174.9
89.8
64.2
234.3
180.9
95.6
68.1
245.4
187.9
98.9
70.4
259.0
193.9
100.7
74.2
254.5
193.2
99.7
75.1
250.3
189.6
96.3
73.0
248.9
192.5
98.3
72.9
239.7
188.2
r
94.2
67.7
50.6
13.3
29.1
50.1
12.8
29.0
50.2
12.9
28.7
50.3
12.4
29.1
51.4
12.9
29.6
54.3
14.3
30.8
58.2
15.3
33.0
58.4
15.1
33.4
58.3
15.4
33.3
58.1
15.5
33.4
56.8
15.5
32.4
r
58.4
16.2
r
32.4
59.2
16.3
33.7
6.7
54.8
18.2
1.5
1.7
2.0
13.3
6.3
54.4
19.4
1.6
1.6
2.2
12.7
6.6
55.5
19.4
1.5
2.1
1.9
13.6
6.2
54.0
18.8
1.7
1.5
2.0
13.0
6.3
53.4
19.2
1.8
1.5
1.8
12.8
6.2
57.6
20.4
1.8
2.2
1.7
13.1
7.1
65.2
20.7
2.3
2.3
1.8
19.4
7.3
61.3
19.7
1.9
1.9
2.2
17.8
7.1
60.6
20.4
1.9
2.0
1.7
16.2
6.9
56.4
18.7
2.0
2.0
1.9
15.1
7.0
51.5
17.9
1.9
2.2
1.8
12.4
6.5
'51.7
17.5
1.9
2.0
1.8
13.3
50.1
17.1
1.5
2.1
1.8
12.4
147,164 13,465
148
162
41,351 r3,735
105,813 r9,730
15,146
192
3,488
11,657
13,077
163
3,559
9,518
13,886
167
3,459
10,428
13,296
205
3,367
9,929
12,513
193
3,238
9,275
10,467
192
3,242
7,225
10,405
177
3,007
7,399
13,904
183
3,649
10,255
14,378
172
3,703
10,675
13,350
160
3,236
10,113
14,919
170
3,407
11,512
13,651
153
3,292
10,360
52,345
63,206
31,613
r
4,821
r
6,139
r
2,505
4,313
5,897
4,936
4,419
6,069
2,589
5,025
6,785
2,076
5,008
5,847
2,441
4,709
5,570
2,235
4,122
4,207
2,139
4,085
4,206
2,114
5,345
5,929
2,630
5,272
6,569
2,537
5,050
5,887
2,413
5,560
5,904
3,454
5,572
5,853
2,227
149,143
9,642
8,997
9,821
13,580
17,200
13,071
14,991
12,449
11,212
15,545
14,093
11,684
12,897
11,890
1,312.6
1,292.2
852.2
121.5
120.1
85.6
131.7
129.9
92.0
147.0
138.3
95.0
153.7
152.7
97.5
113.5
112.9
71.2
96.3
95.9
56.6
85.2
84.5
48.0
72.4
71.9
48.0
108.9
107.8
70.5
124.0
123.0
83.6
110.6
109.9
73.8
107.0
105.8
r
72.5
101.4
100.2
r
70.0
86.7
85.7
55.7
1,277
867
1,411
971
1,482
1,032
1,519
1,009
1,550
1,019
1,535
974
1,660
993
1,215
791
1,297
838
1,332
897
1,158
764
1,039
'688
1,049
r
707
937
591
1,191
710
1,232
763
1,355
840
1,518
884
1,351
820
1,366
809
1,249
753
1,214
715
1,165
677
1,153
678
1,186
689
1,167
654
963
567
r
913
r
863
491
221.5
17.0
207
20.0
208
21.5
239
23.6
236
17.8
239
16.0
261
15.8
233
17.3
256
21.5
255
24.0
265
22.9
255
23.0
246
21.7
268
4,716
1,283
2,698
528
S-9
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
Annual
1981
1980
1980
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES
Dept of Commerce composite
1977—100
American Appraisal Co., The:
Average 30 cities
. . . 1913—100.
Atlanta
do....
New York
do
San Francisco
do....
St Louis
do
1287
1433
1450
1448
1450
1456
1467
1478
1492
1497
152.1
152.9
1535
1537
1543
2357
2,506
2431
2498
2424
2495
2,660
2553
2,671
2343
2531
2,726
2580
2722
2383
2551
2,735
2589
2732
2398
2545
2,717
2577
2,717
2384
2547
2,711
2575
2,730
2395
2556
2,715
2579
2,738
2399
2566
2,723
2587
2,744
2406
2,578
2,773
2621
2,820
2396
2,581
2,781
2639
2,821
2357
2,576
2,788
2,629
2,834
2346
2,600
2,807
2,644
2,855
2361
2,635
2,805
2,640
2,855
2 485
2,655
2,784
2,631
2,821
2476
2,678
2,894
2,653
2,915
2467
Boeckh indexes:
Average, 20 cities: @
Apartments, hotels, office buildings 1972—100..
Commercial and factory buildings
do....
Residences
.do....
170.5
179.0
176.6
186.0
195.2
186.0
187.8
197.3
185.7
Engineering News-Record:
Building
Construction
1967—100 .
do
2693
2795
2877
3014
2890
3035
Federal Highway Adm. —Highway construction:
Composite (avg. for year or qtr.)
1977—100..
CONSTRUCTION MATERIALS
1426
1630
Output indexes:
Iron and steel products
Lumber and wood products
Portland cement
165.6
1912
225.2
1947-49—100..
do....
do....
192.6
201.8
188.8
2921
3076
2924
3090
19-1.0
203.2
1914
2925
3097
2960
3125
163 1
197.1
206.8
194.9
194.8
204.7
192.6
2986
3143
2982
3139
2984
3140
2980
3150
207.6
217.0
205.4
201.2
211.1
199.5
3055
3214
3073
323 3
3083
3268
1600
1618
2,679
2,896
2,668
2,909
2,505
3121
3316
*3135
1332 8
1524
REAL EST ATE H
Mortgage applications for new home construction:
FHA net applications
thous. units..
1338
1414
154
156
165
129
96
11 3
74
Seasonally adjusted annual rates
do....
163
186
185
137
133
176
129
Requests for VA appraisals
do....
216.1
202.2
22.3
21.0
20.3
19.8
12.9
11.3
12.5
Seasonally adjusted annual rates..
do ...
242
246
243
211
169
177
188
Home mortgages insured or guaranteed by:
Fed. Hous. Adm.: Face amount
mil. $.. 18,166.74 16,458.53 1,324.06 1,506.58 1,461.37 1,584.55 1,242.93 1,351.14 955.33
Vet. Adm * Face amount §
do 16 505 50 13 855 54 817 14 94400 1 623 90 1 133 39 1 135 18 954 90 91726
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
41,838
48,963 41,473 42,605 44,161 46,115 47,322 48,963 48,581
New mortgage loans of all savings and loan
associations, estimated total
mil. $.. 100,546
72537
9500
5711
8339
9336
6574
6942
4285
By purpose of loan:
Home construction
do....
20583
14946
1238
1556
1803
1886
1 391 1 454 1029
42957
Home purchase
do
62740
5708
3 498
5208
5 552
3*821
2315
3 748
All other purposes
do...
17223
14634
975
1575
1989
1898
1*362
1 740
941
83
119
130
148
11 3
125
88
87
74
80
62
72
14.9
191
17.3
190
18.2
194
15.5
183
14.2
154
13.7
152
11.9
138
849.36
74520
983.70 1,121.55
706 41 76970
983.42
583 44
978.02
87583
793.47
64407
622.98
696 21
48,206
49,175
53,148
56,095
59,475
62,471
3676
51,530
r
66
4923
5533
5 730
1 966
1 224
2 538
1 161
1 366
2826
1 341
1 247 1 186
3 129 rr3432
1 354 l 429
267.1
7.4
29.0
5.3
27.4
19.5
772.2
15.7
217.1
28.0
114.0
397.4
707.3
15.8
208.8
29.7
94.1
358.9
96,676 r98,639
40,679 r43,152
55,997 '55,487
96,195
41,715
54,480
888
822
6047
4 728
951
2 599
1 178
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,
seasonally adjusted:
Combined index
1967—100..
Network TV
do....
Spot TV
do....
Magazines
do....
Newspapers
do....
Magazine advertising (Publishers Information
Bureau):
Cost, total
mil. $..
Apparel and accessories
do
Automotive, incl. accessories
do....
Building materials
do
Drugs and toiletries
do ..
Foods, soft drinks, confectionery
do....
Beer wine liquors
do
Houshold equip., supplies, furnishings
do....
Industrial materials
do....
Soaps cleansers etc .
.
. . . do
Smoking materials
do....
All other
do ..
Newspaper advertising expenditures (Media
Records Inc.):
Total
mil $
Automotive
do ...
Classified
do
Financial
do....
General
do....
Retail
do
WHOLESALE TRADE f
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
mil. $..
do....
do....
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
See footnotes at end of tables.
274
312
293
235
246
305
341
335
243
294
326
370
349
280
291
314
363
360
253
265
294
330
354
227
259
2,634.0
91.9
212.6
46.4
262.1
200.5
234.0
132.5
69.9
35.0
278.2
1,070.8
2,846.1
111.7
229.5
48.3
283.2
211.6
170.8
5.3
12.7
3.0
21.0
15.2
175.3
7.8
8.4
2.9
23.6
13.4
251.0
15.9
12.0
5.2
27.8
14.4
275.2
13.0
24.3
4.6
25.9
19.6
311.5
11.9
27.3
3.9
27.4
29.4
238.9
138.8
70.8
29.8
289.7
1,198.0
13.7
7.9
3.4
0.9
21.3
66.3
11.9
7,9
4.0
2.3
23.1
69.9
16.7
12.3
7.4
3.3
25.6
110.5
22.0
14.6
7.2
3.1
24.9
116.0
7,641.3
196.0
2,179.3
243.8
982.1
4,040.1
8.192.3
183.6
2,191.8
298.0
1,122.7
4,396.3
586.3
12.9
172.0
24.3
72.1
305.0
675.0
13.6
196.8
16.0
78.1
370.5
650.2
15.2
180.8
21.9
93.2
339.2
915,163 1,043,886
410,079 438,439
505,084 605,447
86,052
35,757
50,295
86,311
36,010
50,301
90,715
38,112
52,603
93,778
59,198
34,580
105,449
66,716
38,733
184.3
6.7
14.8
2.3
18.1
9.0
225.7
6.2
24.0
3.2
24.9
17.9
268.0
12.1
25.7
3.2
27.4
18.4
288.3
14.4
27.2
4.8
31.6
19.4
27.6
18.4
7.6
2.7
24.2
131.2
254.3
9.7
22.1
2.4
22.6
18.4
36.9
10.8
4.5
1.4
23.4
102.2
11.5
8.9
4.3
1.9
20.7
86.0
14.4
7.8
3.8
1.9
24.8
96.8
17.8
11.6
5.8
2.1
30.0
113.9
19.6
14.8
6.0
3.0
29.8
117.8
297.9
11.1
31.0
7.4
31.3
17.5
19.0
18.4
7.2
3.4
24.8
126.8
738.4
15.6
183.8
27.7
105.9
405.4
810.0
16.7
185.3
24.4
113.7
469.9
680.5
11.3
136.2
27.9
76.6
428.5
671.2
16.2
197.7
33.9
100.6
322.7
703.8
19.4
199.2
24.6
113.3
347.4
840.3
22.5
235.0
31.2
138.2
415.4
816.6
18.4
215.6
30.9
126.5
425.2
884.5
21.3
240.2
26.0
134.9
462.1
99,023
41,298
57,725
91,328
36,679
54,649
97,659
38,598
59,061
93,845
35,927
57,918
89,641 101,273
37,054 41,991
52,587 59,282
99,081
41,934
57,147
25.7
12.3
5,4
2.0
28.5
104.5
196.5
6.4
17.6
3.6
21.5
17.6
15.0
9.9 .
4.3
1.4
25.5
73.4
98,387 100,205 101,310 104,277 105,866 105,449 105,446 107,209 107,907 106,420 105,985 106,915
106,676
64,730 65,894 65,273 65,137 65,857 66,716 66,230 68,251 69,208 69,673 71,113 rr71,821 71,648
33,657 34,311 36,037 39,140 40,009 38,733 39,216 38,958 38,699 36,747 34,872 35,094 35,028
85
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
September 1981
1981
1980
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
*
Aug.
Jan.
Feb.
Mar.
Apr.
May
77,361
74,321
23,857
84,652
28,295
85,770
27,688
87,383 '87,784 '88,536 '88,689
27,669 r29,130 '28,848 '28,804
3,359
2,360
538
14,370
13,011
1,359
4,043
2,785
655
17,336
15,745
1,591
4,524
3,038
771
16,279
14,563
1,716
3,351
2,020
976
3,716
2,260
1,088
3,608
2,229
1,047
June
July
DOMESTIC TRADE—Continued
RETAIL TRADE
All retail stores: f
Estimated sales (unadj.), total t
mil. $..
Durable goods stores $
do
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores .. do....
Hardware stores
do. ..
Automotive dealers 4£
Motor vehicle 'dealers
Auto and home supply stores
Furniture, home furn., and equip #
Furniture, home furnishings stores
Household appliance, radio, TV
Nondurable goods stores
General merch. group stores
Department stores
Variety stores
Food stores
Gasoline service stations
894,343
956,655
79,860
81,740
77,579
84,000
304,809
297,926
26,032
25,256
24,506
26,698
25,121
50,272
35,255
7,838
48,210
33,682
7,743
4,289
3,071
641
4,434
3,215
642
3,971
2,616
825
3,351
2,360
565
177,251
161,110
16,141
167,017
148,799
18,218
14,211
12,600
1,611
13,489
11,965
1,524
4,672
3,398
692
15,027
13,330
1,697
4,152
2,936
659
do. ..
do
do....
do....
do....
do....
4,247
3,028
671
15,176
13,527
1,649
13,264
11,699
1,548
13,016
11,365
1,651
41,868
25,692
12,428
3,636
2,172
1,139
3,712
2,244
1,119
3,626
2,170
1,083
3,822
2,309
1,126
4,048
2,421
1,207
4,905
2,566
1,634
do
do....
do....
do....
589,534
109,740
2
88,520
8,385
43,198
26,228
13,190
658,729
116,287
94,185
8,856
13,351
11,926
1,425
3,616
2,152
1,074
53,828
8,630
6,974
679
56,484
9,640
7,834
741
53,073
8,923
7,299
635
57,302
10,105
8,198
735
58,695
11,821
9,642
787
72,662
18,365
14,859
1,397
54,122
7,279
5,873
566
50,464
7,160
5,783
557
56,357
8,972
7,337
663
58,082
9,961
8,093
787
do....
195,826
182,365
73,202
42,375
7,830
217,511
202,065
94,470
44,487
8,025
18,640
17,343
8,504
17,712
16,474
7,982
18,485
17,195
7,951
4,179
801
20,212
18,506
8,350
6,335
1,283
17,477
16,133
7,616
18,837
17,410
8,380
3,586
608
18,853
17,561
8,244
3,931
702
19,195
17,830
8,047
3,263
563
19,115
17,812
8,470
3,913
683
3,279
565
2,911
494
15,802
7,127
16,991
8,040
1,272
577
1,468
724
1,409
693
1,546
724
1,582
750
2,339
942
1,258
614
1,141
530
3,448
552
1,355
665
19,383
17,839
8,492
3,972
621
79,576
28,107
15,294
86,612
31,557
16,556
7,635
2,518
1,398
7,920
2,563
1,420
7,276
2,507
1,277
7,518
2,693
1,347
7,142
2,655
1,407
7,510
3,775
1,926
79,491
25,071
79,829
24,593
80,620
25,094
81,552
25,293
82,764
26,007
83,443
25,983
7,065
2,722
1,275
85,463
27,075
6,742
2,530
1,195
86,810
3,808
2,633
634
3,844
2,670
633
4,039
2,820
639
4,084
2,863
646
4,251
2,963
662
4,261
2,963
689
14,451
12,871
1,580
3,626
2,144
1,130
54,420
9,506
7,715
731
13,940
12,389
1,551
3,628
2,168
1,099
14,173
12,661
1,512
3,702
2,233
1,097
14,258
12,695
1,563
14,413
12,827
1,586
3,817
2,241
1,151
55,236
9,722
7,905
740
55,526
9,649
7,840
722
56,259
9,940
8,045
739
57,460
10,093
8,146
738
18,088
16,805
7,918
3,675
674
1,404
663
18,405
17,078
7,998
18,592
17,267
8,090
3,771
702
1,431
672
7,096
2,604
1,346
7,135
2,623
1,367
18,577
17,250
7,990
3,724
699
1,416
670
7,276
2,667
1,348
14,593
13,042
1,551
3,802
2,267
1,137
56,757
10,025
8,171
732
18,808
17,457
8,130
3,777
683
1,438
687
4,596
3,246
731
14,965
13,355
1,610
4,016
2,404
1,201
7,371
2,742
1,369
7,416
2,760
1,371
do....
Apparel and accessory stores $• .
Men's and boys' clothing
... do ..
do
Women's clothing, spec, stores, furriers do....
Shoe stores
do
Eating and drinking places
do....
Drug and proprietary stores
do....
Liquor stores
do....
Estimated sales (seas adj ), total t
do....
Building materials, hardware, garden supply,
and mobile home dealers #
mil. $..
Building materials and supply stores do
Hardware stores
do....
Automotive dealers
..
.
do....
Auto and home supply stores
. . do. .
Furniture home furn. and equip $
do....
Furniture home furnishings stores
do
Household appliance radio TV
do.. .
Nondurable goods stores
General merch group stores
Department stores
Variety stores
Food stores
Grocery stores
Gasoline service stations
do....
do
do....
do
(2)
do....
. . . do. .
do....
Apparel and accessory stores $
do....
Men's and boys' clothing .
do.. .
Women's clothing spec stores furriers do
Shoe stores
.
. do. .
Eating and drinking places
do.
Drug and proprietary stores
do
Liquor stores
.
.
. . . . do..
Estimated inventories, end of year or month: t
3,785
736
1,435
677
3,682
2,210
1,093
83,816 100,755
28,093
23,239
7,897
2,769
1,285
85,855
28,328
87,608
28,429
8,344
2,810
1,381
85,501
26,356
26,536
4,596
3,233
738
4,481
3,126
731
4,427
3,087
732
4,399
3,127
718
16,315
14,603
1,712
3,888
2,319
1,163
16,330
14,688
1,642
3,897
2,313
1,185
14,572
12,945
1,627
58,388
9,994
8,078
775
58,482
10,306
8,381
770
59,179
10,306
8,443
762
59,499
10,563
8,610
792
19,098
17,709
8,284
3,789
666
1,450
677
19,072
17,601
8,497
19,522
18,098
8,613
3,947
660
1,502
745
19,672
18,185
8,595
3,931
646
1,547
734
3,923
666
1,534
739
7,563
2,755
1,386
7,885
2,815
1,390
19,112
17,632
8,596
4,022
681
1,557
755
7,876
2,768
1,404
8,006
2,770
1,386
7,842
2,831
1,401
7,902
2,830
1,396
3,945
642
1,549
728
do
do...
mil $
296,593
324,279
25,841
27,678
25,927
28,491
30,205
39,694
25,080
23,689
27,291
do...
do
dodo...
do
do...
do...
22,568
3,338
23,390
3,501
1,910
313
1,935
306
1,904
293
2,175
303
3,101
320
1,606
260
1,565
250
1,863
288
274,025
95,933
83,857
6,258
5,818
300,889
101,963
89,229
6,627
6,107
23,931
7,546
6,616
500
430
25,743
8,477
7,438
555
484
24,023
7,842
6,914
482
446
2,057
321
26,434
8,837
7,757
551
529
28,030
10,448
9,127
610
711
36,593
16,193
14,054
1,085
1,054
23,474
6,314
5,564
414
336
22,124
6,268
5,491
416
361
25,428
7,955
6,977
511
467
do...
do...
do
do...
do
do...
.. do...
. do...
do...
Firms with 11 or more stores:
Estimated sales (unadjusted) total
Durable goods stores
Auto and home supply stores .
Nondurable goods stores #
General merchandise group stores
Department stores
Variety stores
. .. . Miscellaneous general stores
See footnotes at end of tables.
.
3,822
2,286
1,166
r
4,993
r
3,463
r
'4,754
3,330
780
809
16,794 16,795
15,042 14,953
1,842
1,752
r
3,819 '3,774
2,324
'2,351
r
552
560
r
58,654 '59,688
'10,011 '9,512
'8,220 '7,754
'716
705
19,792 '20,953
18,338 19,482
'8,996 '9,247
'3,586
'3,632
r
626
572
1,429
1,404
r
690
655
r
8,264
r
2,758
1,367
16,776
1
3,776
'59,885
10,249
1
8,382
19,872
18,484
'9,246
'4,078
'8,502
'2,748
r
87,384 '87,131 '87,690
27,532 '27,568 127,832
'4,381
'3,040
'740
'4,248
2,883
731
'4,161
14,786 15,603 15,878 16,171
13,167 13,967 14,120
1,758
1,619 1,636
3,794 '3,873 '3,712 '3,780
2,256
2,323 '2,337
1,17G
1,128
1,103
58,965 '59,852 '59,563 '59,858
10,350 10,674 10,390 10,603
8,452 '8,754 '8,493 '8,668
'763
756
748
19,506 19,850 19,859 19,965
18,091 18,430 18,397 18,540
'8,633 '8,610 '8,756
8,513
28,755 '29,643
2,039
324
26,716
8,776
7,677
593
506
'8,512
'2,758
1,427
'4,68i
T
'4,000
'674
1,572
'750
'7,893
'2,826
1,368
r
117,523
108,717 109,268 108,482 111,826 117,264 119,039 108,717 108,147 110,635 113,741 114,951 l!5,877
r
51,159 51,306 49,619 49,678 51,457 52,807 51,159 51,904 52,409 53,018 53,868 55,033 55,934
8,816
9,151
9,590
9,642 '9,849
9,685
8,695
8,909
8,927
8,975
8,878
8,902
8,695
27,503
24,457 24,081 22,159 21,821 22,913 24,031 24,457 24,931 24,783 24,624 25,539 '26,470
8,472
7,975
8,146
8,374
8;358 r8,431
8,525
8,008
8,671
8,269
8,380
8,420
8,008
r
57,558 57,962 58,863 62,148 65,807 66,232 57,558 56,243 58,226 60,723 61,083 r60,844 61,589
19,894 21,363 21,898 23,439 25,328 25,460 19,894 19,397 20,593 22,054 22,499 22,575 23,111
14,819 15,508 15,933 17,031 18,461 18,824 14,819 14,366 15,190 16,289 16,783 16,893 17,140
12,848
12,471 11,745 11,791 12,003 12,673 12,957 12,471 12,167 12,527 12,892 12,891 12,822
9,060
9,436
9,453 r9,265
9,350
9,120
8,624
9,388 10,088 10,493 10,556
9,015
9,120
117,492
111,694 110,003 110,283 111,711 113,106 112,639 111,694 111,790 113,507 113,404 113,963 115,426
r
51,853 51,249 51,675 51,738 52,066 52,209 51,853 52,234 52,374 51,791 52,306 53,529 54,845
9,082
9,076
9,096
9,302
9,298 r '9,590
9,102
9,061
9,532
8,869
8,965
9,008
9,076
26.446
24,263 23,866 24,191 24,138 24,298 24,447 24,263 24,491 24,273 23,385 24,184 25,066
r
8,450
8,163
8,316
8,423
8^47
8,346
8,285
8,196
8,346
8,372
8,328
8,163
8,344
r
59,841 58,754 58,608 59,972 61,040 60,430 59,841 59,556 61,133 61,613 61,657 r61,897 62,647
21,861 21,603 21,549 21,991 22,581 22,310 21,861 21,614 22,386 22,646 22,644 22,846 23,457
16,178 15,841 15,791 16,128 16,439 16,326 16,178 15,980 16,583 16,690 16,817 17,012 17,401
12,874
12,372 11,876 11,983 12,112 12,292 12,411 12,372 12,315 12,795 12,840 12,930 12,925
9,470
9,638
9,487
9,518
9,394
9,679
9,646 r9,512
9,669
9,162
9,481
9,470
9,195
Food stores
Apparel and accessory stores
General merch. group stores
Department stores
Food stores
Apparel and accessory stores
Book value (seas adj ) total
Durable goods stores #
Building materials and supply stores
Automotive dealers
Furniture, home furn., and equip
3,735
615
7,710
2,701
1,247
do
do...
do...
3,662
2,300
1,043
59,714
10,241
8,359
738
20,387
18,941
8,734
1,470
728
Nondurable goods stores '4£
General merch. group stores
Furniture, home furn., and equip
15,791
14,154
1,637
1,532
831
106,169
52,691
8,609
26,763
8,146
53,478
18,628
13,734
11,517
8,547
108,835
53,274
8,986
26,524
8,287
55,561
20,456
14,993
11,414
8,875
Durable eoods stores #
do
Building materials and supply stores .. do....
4,798
3,221
809
'2,148
315
28,973
2,208
342
27,495
r
9,043
'7,930
563
r
550
26,765
8,860
7,796
548
516
r
'3,999
670
1,569
744
'4,018
'7,788
'2,826
1,356
'7,715
'2,836
S-ll
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
July
Annual
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
"Mar.
Apr.
May
June
July
Aug.
229 go
230 03
DOMESTIC TRADE—Continued
RETAIL TRADE—Continued
Firms with 11 or more stores—Continued
Estimated sales (unadjusted) —Continued
Nondurable goods stores—Continued
Food stores
Grocery stores
Apparel and accessory stores $
Women's clothing, specialty stores,
furriers
Family clothing stores
Shoe stores
Eating places.......
Drug stores and proprietary stores
1468
10652
10486
2312
10281
10 153
979
9207
9058
926
595
359
343
1447
1330
28074
295
7768
558
9672
1297
526
314
1361
912
630
460
1505
2055
28359
298
7735
557
9883
1324
528
317
1361
384
240
251
1413
1,317
28,474
308
7,696
572
9810
1328
538
317
1395
384
216
235
1336
1226
29091
329
7958
585
9899
1387
573
342
1390
113214
111 857
9608
9497
9898
9788
9209
9 105
9940
9832
9764
9653
do
102 496
101 270
14285
15 204
1 068
1 404
1 227
1 354
mil $
do
do
. do
do....
5876
3455
3420
15 165
13,720
6191
3664
3707
17011
15,665
mil $
do
Estimated sales (sea. adj.), total # ..
Auto and home supply stores
Department stores...
Variety stores
Grocery stores
do.. .
do
do .
do
do
Apparel and accessory stores
Women's clothing, spec, stores, furriers.,
Shoe stores . . . . ...
.
Drug stores and proprietary stores
do
do..
do
do
All retail stores, accts, receivable, end of yr. or mo.:
Total (unadjusted)
mil. $..
Durable goods stores
do....
Nondurable, goods stores ,
do....
Charge accounts....
Installment accounts
do....
do....
Total (seasonally adjusted)
Durable goods stores
Nondurable goods stores
Charge accounts
Installment accounts
•.
do....
do....
do....
do....
do....
40,387
11,391
28,996
12,268
28,119
467
259
242
1493
1,260
26849
298
7294
546
9366
1255
520
301
1318
36 046
11,138
24,908
11426
24,620
36,972
10,938
26,034
11,716
25,256
37,437
11,194
26,243
11,743
25,694
554
347
345
1567
1292
27344
298
7475
556
9512
1278
513
311
1328
555
496
282
325
325
332
1 427
1502
1233
1297
27368 27752
296
293
7620
7 418
560
565
9 604
9630
1257
1291
518
513
307
313
1340
1360
9883
9743
1206
10128 10,694
9960 10 543
1330
1459
10,250
10099
1272
r
526
501
594
552
r
311
307
276
325
r
311
407
344
314
1547 1645
1591
1548
1,344
1,392
1,416
1405
29,252 29618 r29,418 30,073
304
303
307
316
8010
8150 r8002
8276
575
614
575
'585
10 128 10132 10 147 10305
1 402 1407
1r 394 1 410
574
593
566
586
r
349
342
345
358
1393
1 444 1 427 1 450
(2)
(2)
(2)
(2)
(•)
(2)
(*)
(*)
(2)
(2)
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total, incl. armed forces overseas $
LABOR FORCE
mil
X
227 66
*227 66
22766
22786
22809
228 30
228 50
228 67
22883
22898
229 12
229 28
229 44
229 62
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
Armed forces
Civilian labor force, total
Employed
.
.
Unemployed
thous
do
do. ..
do
do
104 996
2084
102 908
96945
5963
106 821 109 095 108 240 106 841 107 536 107 406 106 902 106 796 106 929 107 533 107 807 108 474 109 752 1 1 fl ^47 1flQ Q^1
2102
2099
2 124
9 ifin
2 114
2 121
2 129
2 121
2 119
2 125
2 121
2 128
2*127
2 131
2 139
104 719 106 997 106 126 104*720 105 415 105*287 104 778 104 671 104 808 105 405 105 678 106 347 107 621 108 408 107 771
97270 98 587 98 115 97 256 97933 97 801 97 545 96 128 96 383 97 318 98 282 98 803 99 341 100 474 1 no o 1 3
7 482
7448
8410
8011
7464
7 486
7 233
8 543
8425
8 087
7396
7 545
8 279
7 934
7 758
Seasonally Adjusted T!
Civilian labor force total . . . .
Participation rate *
Employed, total
Employment-population ratio *
Agriculture
Nonagriculture
do
percentthous..
percentthous
do
Unemployed, total
do....
Long term, 15 weeks and over
do....
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
White
Black and other
Married men, spouse present .. ..
Married women, spouse present
Women who maintain families
Occupation:
White-collar workers
Blue-collar workers
Industry of last job (nonagricultural):
Private wage and salary workers
Construction
Manufacturing
Durable goods
EMPLOYMENT!
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl. government)
do....
63.7
59.3
3297
93 648
1,202
105 020 104 945 104 980 105 167 105 285 105 067 105 543 105 681 106 177 106 722 107 406 106 176 106 464 106 602
63.9
63.8
63.8
63.8
63.8
63.6
63.8
63.8
64.0
64.3
64.6
63.8
63.9
64.0
96999 97003 97180 97 206 97339 97 282 97696 97927 98 412 98 976 99235 98392 98962 98 944
58.5
58.3
58.2
58.3
58.3
58.2
58.2
58.1
58.6
58.4
58.9
59.0
58.4
58.7
58.6
3310
3267
3210
3399
3340
3 319
3 394 3403
3 281
3 276
3463
3 353
3 265
3 258
3 370
93960 93 732 93 793 93781 93 887 93999 93888 94 294 94 646 95 136 95 513 95 882 95 127 95 704 95*574
8,021
7942
7800
7961
7946
7847
7 785
7 754
7 764
7 746
8 171
7 784
7 502
7667
1,829
1,935
2,150
2,295
2,292
2,329
2,358
2,378
2,250
2,192
2,105
2,168
2,315
2,100
2,194
63.8
5.8
41
57
16 1
51
113
27
51
83
71
59
63
17 7
63
132
42
58
91
76
66
66
187
68
139
49
61
88
76
65
65
188
67
137
43
6.0
90
74
66
62
17 8
65
14 1
47
57
90
76
64
67
18 5
66
142
46
60
10 2
75
64
67
18 6
66
14 0
44
59
99
74
62
68
178
65
140
43
58
104
74
60
67
19 0
67
129
42
62
10 5
73
60
65
193
66
13 1
41
58
96
73
59
66
19 1
65
13 7
41
60
94
73
58
66
19 1
65
13 2
38
59
98
76
63
68
19 5
68
13 6
41
59
10 3
73
61
65
19 0
64
14 2
42
56
10 6
70
56
67
18 1
RO
a i
13 6
39
56
11 5
15 0
39
53
98
33
69
37
100
37
113
37
11 1
38
10 8
39
10 8
39
10 7
40
105
37
10 1
39
98
40
96
41
10 0
3°
98
41
94
39
94
57
102
5.5
50
74
142
8.5
89
80
158
98
107
80
173
9.3
10 1
78
159
92
100
78
146
92
95
78
148
89
90
77
138
88
90
39
102
75
13 3
84
83
75
13 2
84
85
73
14 7
80
79
72
14 4
74
73
78
18 3
79
73
74
16 6
76
74
72
15 0
73
73
72
16 7
70
64
89,823
73,876
90,564
74,316
89,711
74,100
89,969
74,539
90,638
74,797
91,244
74,913
91,599
75,126
91,750
75,315
89,988
73,772
90,138
73,680
90,720
74,227
91,337
74,880
91,848
75,434
r
92,481
r
r
91,685
r
P
91,767
P
89,823
73,876
52,836
26,461
958
4.463
90,564
74,316
54,016
25,718
1020
4.399
89,960
73,738
53,861
25,151
1004
4.270
90,219
74,030
54,040
25,322
1008
4.324
90,461
74,268
54,208
25445
1023
4.362
90,668
74,419
54,309
25521
1032
4.379
90,844
74,602
54,414
25629
1052
4.389
90,949
74,713
54,538
25631
1 069
4.387
91,091
74,868
54,694
25647
1 083
4.390
91,258
75,018
54,841
25 657
1 091
4.389
91,347
75,143
54,952
25705
1 098
4.416
91,458
75,288
54,956
25 700
950
4418
91,564
75,433
55,019
25705
957
4 334
r
91,615
r
75,575
r
55,151
r
r
75,901
r
55,354
r
76,278
76,228
72
59
65
18 8
76,509
Seasonally Adjusted t
Total employees, nonagricultural payrolls......
Private sector (excl. government) ..
Nonmanufacturing industries
Goods-producing
Mining
.
.
.
Construction
See footnotes at end of tables.
do....
do....
do....
do....
do
do....
91,966
P
92,027
"76,014
P
55,499
P
p
25 818 25947 25 929
1
110 1 131 l 149
r
4284 U9,fiQ P4 9.KK
S-12
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1981
1980
July
Annual
September 1981
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
'20,424
r
!2,278
699
r
486
r
658
r
l,144
1,604
r
2,521
r
2,148
1.886
'717
415
r
8,146
1,673
r
71
'846
1,264
695
1,284
1,111
212
757
'233
r
65,797
r
5,149
r
20,717
'5,349
15,368
r
5,331
18,560
16,040
2,781
13,259
r
Aug.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT f— Continued
Seasonally Adjusted f
Employees on nonag. payrolls—Continued
Goods-producing— Continued
Manufacturing....
thous..
Durable goods
do
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
.. . .
.... do ..
Food and kindred products
do....
Tobacco manufactures
do
Textile mill products
. .
.. . do ..
Apparel and other textile products
do....
Paper and allied products
do
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
do....
Rubber and plastics products, nee
do....
Leather and leather products
do....
Transportation and public utilities
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
do....
do....
do
•• do ..
do....
Government
.
do....
Federal
do..,.
State and local
do....
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Seasonally Adjusted f
Production or nonsupervisory workers on private
nonagricultural payrolls 1"
....thous..
Goods-producing
.. do. .
Mining
. .
do....
Manufacturing
•••• do.. .
Durable goods . . . .
do....
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @.... do....
Transportation equipment §
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
Nondurable goods
do....
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do....
Apparel and other textile products ...... do....
Paper and allied products
. do
Printing and publishing
do....
Chemicals and allied products
do...
Petroleum and coal products
do
Rubber and plastics products, nee
do...
Leather and leather products
do...
Service-producing
do...
Transportation and public utilities
doWholesale and retail trade
doWholesale trade
doRetail trade
do
Finance, insurance, and real estate
do...
AVERAGE HOURS PER WEEK t
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: fi Not seasonally adjusted
hours.
Seasonally adjusted
do
Mining $
do...
Construction
.
•• do...
Manufacturing:
Not seasonally adjusted
do...
Seasonally adjusted
do
Overtime hours
do
Durable goods
do
Overtime hours
do...
Lumber and wood products
do...
Furniture and fixtures
do...
Stone clay, and glass products
do...
Primary metal industries
do...
See footnotes at end of tables.
21,040
12,760
767
498
709
1,254
1,718
2,485
2,117
2,077
691
445
8,280
1,733
70
885
1,304
707
1,235
1,109
210
782
246
63,363
5,136
20,193
5,204
14,989
4,975
17,112
15,947
2,773
13,174
20,300
12,181
690
469
666
1,144
1,609
2,497
2,103
1,875
708
419
8,118
1,711
69
853
1,266
694
1,258
1,107
197
731
233
64,847
5,143
20,386
5,281
15,104
5,168
17,901
16,249
2,866
13,383
19,877
11,859
662
447
645
1,070
1,545
2,462
2,064
1,841
708
415
8,018
1,708
70
828
1,254
682
1,255
1,099
208
692
222
64,809
5,119
20>355
5,261
15,094
5,173
17,940
16,222
2,893
13,329
19,990
11,907
671
456
651
1,077
1,567
2,454
2,074
1,839
707
411
8,083
1,720
68
844
1,263
687
1,256
1,097
208
708
232
64,897
5,126
20,413
5,274
15,139
5,188
17,981
16,189
2,808
13,381
20,060
11,968
680
462
656
1,092
1,575
2,463
2,078
1,843
709
410
8,092
1,712
68
843
1,261
689
1,261
1,101
208
717
232
65,016
5,124
20,450
5,290
15,160
5,206
18,043
16,193
2,784
13,409
20,110
12,013
679
462
655
1,108
1,578
2,481
2,087
1,848
709
406
8,097
1,711
69
845
1,256
691
1,262
1,102
208
722
231
65,147
5,129
20,461
5,296
15,185
5,221
18,087
16,249
2,795
13,454
20,188
12,090
683
463
658
1,126
1,582
2,489
2,096
1,874
712
407
8,098
1,705
71
844
1,253
692
1,265
1,103
209
725
231
65,215
5,114
20,464
5,296
15,168
5,235
18,160
16,242
2,796
13,446
20,175
12,077
687
464
655
1,137
1,581
2,490
2,103
1,839
712
409
8,098
1,701
71
842
1,250
692
1,269
1,105
209
729
230
65,318
5,118
20,470
5,300
15,170
5,254
18,240
16,236
2,800
13,436
20,174
12,084
689
464
654
1,137
1,579
2,487
2,110
1,840
713
411
8,090
1,696
71
841
1,244
691
1,269
1,106
211
730
231
65,444
5,124
20,529
5,305
15,224
5,268
18,300
16,223
2,799
13,424
20,177
12,074
691
466
654
1,140
1,577
2,481
2,110
1,833
711
411
8,103
1,705
72
839
1,243
691
1,272
1,109
210
731
231
65,601
5,135
20,600
5,313
15,287
5,283
18,343
16,240
2,795
13,445
20,191
12,099
692
467
651
1,141
1,581
2,480
2,117
1,849
712
409
8,092
1,691
72
838
1,243
689
1,276
1,108
210
734
231
65-642
5,139
20,635
5,316
15,319
5,293
18,371
16,204
2,781
13,423
20,332
12,207
702
478
656
1,145
1,595
2,491
2,134
1,878
714
414
8,125
1,697
72
842
1,250
691
1,280
1,107
211
744
231
65,758
5,161
20,636
5,333
15,303
5,316
18,475
16,170
2,767
13,403
20,414
12,254
710
484
658
1,142
1,604
2,511
2,143
1,872
716
414
8,160
1,703
71
843
1,258
694
1,283
1,109
213
753
233
65,859
5,148
20,714
5,346
15,368
5,326
18,540
16,131
2,779
13,352
20,547
12,339
5703
r
489
r
657
1,142
1,614
r
2,537
r
2,163
1,887
'722
r
425
r
8,208
1,695
r
71
r
857
1,278
r
696
1,291
1,109
r
212
r
760
'239
r
66,019
r
5,161
r
20,794
r
5,359
15,435
r
5,346
18,653
16,065
r
2,777
13,288
"50,515
"12,330
"693
"489
"661
p
l,138
p
l,607
P
2,553
P
2,161
"1,884
P
727
P
417
P
8,185
p
l,666
"72
P
849
p
l,276
P
699
p
l,293
p
l,110
P
212
P
763
P
245
P
66,098
P
5,179
P
20,863
"5,370
"15,493
"5,355
P
18,688
P
16,013
P
2,742
"13,271
60,367
15,068
60,457
14,223
60,215
13,614
60,617
13,907
60,855
14,131
60,948
14,141
61,124
14,190
61,279
14,126
59,760
13,975
59,633
13,971
60,115
14,049
60,736
14,127
61,204 r61,911 r61,826
14,195 14,325 14,126
P
62,081
P
60,367
19,351
719
3,565
15,068
9,110
654
406
559
986
1,299
1,634
1,388
1,423
422
339
5,958
1,191
56
771
1,117
536
697
633
137
612
209
41,016
4,299
17,748
4,274
13,474
3,776
15,193
60,457
18,442
757
3,461
14,223
8,438
577
378
516
879
1,193
1,605
1,336
1,215
424
314
5,786
1,175
54
741
1,082
524
703
626
124
562
196
42,015
4,291
17,881
4,319
13,562
3,9l3
15,930
59,945
17,906
747
3,345
13,814
8,131
552
359
495
810
1,135
1,572
1,297
1,181
421
309
5,683
1,172
54
717
1,072
511
698
616
133
524
186
42,039
4,268
17,858
4,304
13,554
3,920
15,993
60,182
18,064
748
3,386
13,930
8,176
560
367
502
818
1,153
1,567
1,304
1,178
422
305
5,754
1,184
53
733
1,078
516
701
616
134
543
196
42,118
4,270
17,901
4,309
13,592
3,929
16,018
60,368 60,464
18,167 18,213
759
763
3,416
3,426
13,992 14,024
8,259
8,229
567
568
373
372
506
506
847
833
1,165
1,161
1,579
1,573
1,306
1,310
1,189
1,185
422
421
301
304
5,765
5,763
1,177
1,177
54
54
734
732
1,077
1,073
520
518
703
704
619
620
134
134
556
551
195
196
42,201 42,251
4,275
4,272
17,929 17,933
4,320
4,317
13,612 13,613
3,950
3,939
16,061 16,093
60,598
18,291
779
3,431
14,081
8,320
569
373
508
864
1,169
1,581
1,316
1,215
422
303
5,761
1,170
55
732
1,071
521
704
621
134
558
195
42,307
4,260
17,932
4,318
13,614
3,960
16,155
60,667
18,278
791
3,428
14,059
8,301
573
374
505
874
1,168
1,577
1,322
1,182
423
303
5,758
1,166
55
731
1,068
521
707
622
133
561
194
42,389
4,265
17,932
4,324
13,608
3,972
16,220
60,807
18,305
800
3,452
14,053
8,306
575
374
504
876
1,166
1,577
1,324
1,183
422
305
5,747
1,162
55
729
1,062
521
705
623
134
562
194
42,502
4,264
17,982
4,324
13,658
3,986
16,270
60,870
18,298
806
3,439
14,053
8,297
576
376
503
879
1,164
1,573
1,326
1,176
419
305
5,756
1,168
55
727
1,061
520
707
625
134
564
195
42,572
4,270
18,013
4,329
13,684
3,992
16,297
60,961 61,114
18,346 18,338
689
813
3,462
3,459
14,074 14,187
8,325
8,412
586
577
386
376
506
501
884
879
1,169
1,178
1,580
1,575
1,345
1,334
1,218
1,190
422
420
307
304
5,775
5,749
1,164
1,158
56
56
729
727
1,065
1,061
521
519
709
708
627
626
134
134
566
575
195
194
42,615 42,776
4,291
4,268
18,031 18,027
4,342
4,330
13,701 13,685
4,017
3,996
16,320 16,441
61,179
18,317
694
3,376
14,247
8,442
593
392
507
880
1,184
1,594
1,353
1,210
423
306
5,805
1,170
55
731
1,071
523
710
629
135
584
197
42,862
4,272
18,084
4,352
13,732
4,024
16,482
35.6
35.3
43.0
37.0
43.2
37.0
35.3
35.1
42.0
37.7
35.5
35.2
43.2
37.3
35.3
35.3
43.5
38.0
35.3
35.3
43.6
37.9
35.3
35.3
43.6
36.8
35.6
35.3
44.1
37.2
35.1
35.3
43.6
36.4
35.0
35.2
42.8
35.0
35.2
35.3
42.3
37.2
35.2
35.4
43.6
36.9
35.2
35.3
43.8
36.9
40.2
39.7
34
40.8
3.5
39.4
38.7
41.5
41.4
2.8
40.1
2.8
38.6
38.0
40.8
40.1
38.8
39.2
2.5
39.5
2.4
38.2
36.8
40.4
38.9
39.4
39.5
2.7
40.0
2.7
38.8
37.6
40.5
39.4
39.8
39.6
2.7
40.1
2.7
38.7
38.1
40.8
39.7
39.8
39.7
2.8
40.1
2.8
38.6
38.0
40.8
40.1
40.2
39.8
3.0
40.4
3.0
39.1
38.0
40.9
40.8
40.8
39.9
3.0
40.4
3.1
39.3
38.4
41.0
41.2
39.9
40.1
3.0
40.6
3.0
39.8
38.5
41.3
41.1
39.5
39.8
2.8
40.1
2.8
39.1
38.6
40.6
40.7
39.9
39.9
2.8
40.4
2.8
39.1
38.6
40.7
41.0
39.7
40.2
2.9
40.8
3.0
39.6
38.8
41.2
41.2
40.1
40.3
3.2
40.8
3.2
39.8
39.0
41.0
41.0
r
61,292
18,387
r
819
r
3,323
14,245
r
8,455
'585
'393
r
506
'882
1,187
1,602
1,354
1,218
422
306
r
5,790
1,144
56
'733
1,077
524
r
709
'632
133
'585
197
'42,905
'4,269
18,093
r
4,350
13,743
r
4,030
16,513
14,285
r
61,594 P61,662
18,491 P18,482
P
'833
848
'3,316 "3,307
14,342 P14,327
'8,502 P8,505
P
'586
577
P
'397
396
P
'506
510
'879 p P874
1,197
l,190
p
1,611
l,630
p
1,368
l,366
1,215
"1,222
P
'427
430
P
316
310
5,840 p"5,822
1,164
l,132
'55
"56
'743 p P736
1,092
l,087
P
'524
527
P
'711
715
P
'630
638
132
"131
P
'586
592
P
'203
208
P
43,103 43,180
'4,276 P4,299
18,196 "18,226
'4,369 P4,370
13,827 "13,856
4,036 P4,043
16,595 P16,612
35.4
35.2
'42.1
r
37.2
35.5
'35.2
'43.1
37.7
"43.^
P
37.4
40.2
40.1
3.0
'40.5
3.0
39.0
'38.9
r
40.8
40.8
39.6
40.0
'3.0
40.5
3.0
'38.7
'38.5
'41.0
'40.5
"39.9
"40.1
"3.1
"40.6
"3.1
"38.6
"38.2
"40.9
"40.7
r
S-13
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
AVERAGE HOURS PER WEEK f— Cont.
Seasonally Adjusted— Continued
Average weekly hours per worker—Cont.
Manufacturing— Continued
Durable goods—Continued
Fabricated metal products §
hours
Machinery, except electrical
do..
Electric and electronic equipment @
do..
Transportation equipment §
do..
Instruments and related products
do..
Miscellaneous manufacturing ....
do
Nondurable goods
Overtime hours
Food and kindred products
.
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
40.7
41.8
40.3
41.2
40.8
38.8
40.4
41.0
39.8
40.6
40.5
38.7
39.8
40.6
39.1
40.0
40.2
38.4
40.2
40.8
39.6
40.8
40.3
38.6
40.4
40.9
39.6
40.7
40.2
38.8
404
40.8
39.8
40.7
40.3
38.6
40.5
41.0
39.9
41.2
40.4
38.6
40.5
40.9
40.0
41.0
40.4
38.9
40.5
41.1
40.1
41.3
40.6
38.8
40.2
40.8
39.6
40.5
40.5
38.6
40 2
40.9
40.0
40.9
40.5
38.7
40.9
41.3
40.2
42.0
40.1
38.9
40.9
41.4
40.4
41.8
40.4
39.2
r
40.7
'41.1
40.2
r
41.4
40.4
r
39.1
40.5
41.2
r
40.6
r
41.3
r
"40.5
"41.1
P
40.4
P
42.0
P
40.6
"38.9
r
P
r
39.4
r
P
40.7
39.2
do
do
do
do
do
do..
do..
do...
do...
do...
do...
do
39.2
31
39.8
38.0
37.3
35.2
39.0
2.8
39.7
38.1
40.0
35.4
38.6
2.7
39.7
36.6
39 1
35.2
38.9
2.8
39.8
36.9
39.5
35.2
38.9
2.8
39.7
38.2
39.8
35.2
39.0
2.8
39.6
40.0
39.8
35.4
39.1
2.9
39.8
40.1
39.9
35.2
39.2
2.9
39.7
38 1
40 1
35.5
39.5
3.0
40.3
38.6
400
36.1
39.2
2.9
39.9
38.5
40.0
35.6
39.2
2.8
39.7
37.2
39.9
35.7
39.3
2.9
40.1
37.2
39.8
35.5
39.6
3.1
40.0
38.6
40.5
36.0
42.6
37.5
41.9
43.8
40.5
36.5
42.3
37.1
41.5
41.8
40.1
36.7
41.7
37.0
41.0
42.1
39.1
36.2
42.0
37.0
41.2
42.1
40.2
36.6
42.2
36.9
41.4
42.4
40.2
36 4
42.2
37.1
41.5
42.8
40.5
36.7
42.4
36.8
41.6
42.9
40.8
36 3
42.8
37.4
41.6
43.2
40.8
36.6
42.6
37.5
41.6
43.8
40.9
36.8
42.4
37.3
41.6
43.8
40.3
37.0
42.4
37.1
41.5
43.5
40.5
37.1
42.6
37.3
41.5
44.1
40.7
36.6
42.8
37.6
41.7
43.8
41.3
37.1
39^4
3.0
39.8
r
38.5
40.2
r
36.1
42.7
'37.4
r
41.7
r
43.4
41.0
r
37.4
do...
do
do
do
do...
do
39.9
32.6
38.8
30.6
36.2
32.7
39.6
32.2
38.5
30.2
36.2
32.6
39.9
32.0
38.1
30.0
36.2
32.6
39.7
32.1
38 3
30.1
36.3
32.6
39.7
32.1
38.5
30.1
36.1
32.6
39.8
32.1
38.5
30 1
36.3
32.6
39.7
32.2
38.5
30.2
36.3
32.7
40.0
32.1
38.6
30.0
36.3
32.7
39.4
32.2
38.8
30 1
36.4
32.7
39.5
32.2
38.6
30.2
36.4
32.8
39.4
32.2
38.6
30.2
36.4
32.8
39.3
32 3
38.6
30.3
36.3
32.8
39.3
32.1
38.5
30.1
36.1
32.7
'39.8
r
32.1
38.5
r
30.1
36.1
32.5
Employee-hours, wage & salary workers in nonagric. establish, for 1 week in the month,
seas adj. at annual rate . . .
bil hours
Total private sector
do
Mining ....
do
Construction
do
Manufacturing
do.. .
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services
do
Government
do
169.53
138.26
2.15
8.59
43.92
10.65
34.35
9.39
29.21
31.26
169.70
137.84
2.31
8.46
41.96
10.60
34.29
9.75
30.47
31.86
167.04
135.19
2.18
8.14
40.39
10.53
33.77
9.74
30.45
31.86
168.13
136.29
2.23
8.16
40.92
10.49
34.11
9.78
30.61
31.83
169.07
137.39
2.26
8.46
41.22
10.57
34.35
9.81
30.72
31.68
169.66
137.98
2.30
8.42
41.52
10.63
34.47
9.87
30.77
31.68
170.06
138.81
2.39
8.50
41.94
10.58
34.53
9.92
30.96
31.25
171.12
139.22
2.50
8.56
42.15
10.62
34.39
9.94
31.06
31.90
172.87
140.86
2.57
9.07
42.54
10.63
34.79
9.99
31.28
32.01
171.65
140.02
2.52
8.36
42.24
10.62
34.79
31.46
31.63
172.14
140.20
2.48
8.60
42.21
10.60
34.75
10.04
31.51
31.94
170.56
139.85
2.17
8.43
42.19
10.62
34.84
10.04
31.56
30.71
Indexes of employee-hours (aggregate weekly): If
Private nonagric. payrolls, total
1977=100..
Goods-producing
do....
Mining
do
Construction
do
Manufacturing
do
Durable goods
do
Nondurable goods
do
Service-producing
do..
Transportation and public utilities
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do....
Services
do
108.4
108.6
115.3
119.7
106.2
109.1
101.9
108.2
107.1
106.6
110.3
105.1
110.6
109.9
107.3
102.5
122.1
116.1
99.0
99.5
98.3
110.0
106.3
105.9
110.4
104.2
114,6
115.0
105.9
98.7
117.0
114.3
94.9
94.4
95.6
109.8
106.4
105.0
109.0
103.5
114.7
113.3
106.6
100.2
120.5
114.5
96.5
96.0
97.4
110.1
105.9
105.7
109.7
104.2
115.3
115.5
107.1
101.3
123.1
117.6
97.2
96.8
97.7
110.3
106.0
106.0
110.5
104.3
114.9
115.8
107.4
101.7
124.0
117.7
97.6
97.3
98.0
110.6
106.3
106.1
110.6
104.3
115.9
116.0
107.7
102.0
126.6
114.4
98.4
98.6
98.0
110.9
105.7
106.3
110.5
104.7
116.2
116.9
107.9
102.3
130.1
115.6
98.5
98.5
98.4
111.0
106.6
105.9
110.9
103.9
116.5
117.3
108.2
102.4
130.1
113.9
98.9
99.0
98.9
111.3
105.0
106.6
111.5
104.7
117.3
117.7
107.9
100.9
128.6
109.1
98.0
97.8
98.3
111.7
105.4
106.8
111.1
105.2
117.4
118.2
108.4
102.4
128.2
116.6
98.4
98.6
98.1
111.8
105.1
106.9
111.1
105.4
117.5
118.4
108.9
102.8
112.0
115.8
99.9
100.7
98.7
112.3
105.4
107.2
111.4
105.6
117.8
119.3
108.9
103.1
113.3
112.9
100.7
101.1
100.1
112.0
104.9
106.9
111.4
105.2
117.4
119.2
108.7
102.6
128.0
109.3
100.2
100.6
r
99.5
112.1
106.2
107.0
111.3
105.3
117.6
118.7
109.3
103.6
135.1
110.9
100.6
101.2
99.8
112.4
105.8
107.4
112.1
105.6
118.1
119.3
P
109.5
P
103.5
P
137.2
P
110.0
P
100.7
P
101.3
P
99.8
P
112.8
P
106.4
P
6.16
8.49
9.27
6.70
6.43
7.13
6.83
6.07
5.06
6.85
8.98
6.85
7.32
6.32
8.53
6.17
5.03
6.66
9.17
9.92
7.27
7.02
7.75
7.48
6.53
5.49
7.50
9.77
7.45
8.00
6.95
9.32
6.80
5.47
6.64
9.07
9.90
7.29
7.07
7.76
7.54
6.68
5.53
7.59
9.83
7.44
8.00
6.95
9.32
6.85
5.47
6.67
9.16
10.04
7.30
7.06
7.77
7.52
6.72
5.55
7.63
9.85
7.49
8.02
7.01
9.33
6.86
5.48
6.85
9.36
10.24
7.49
7.23
8.01
7.73
6.73
5.60
7.74
10.10
7.69
8.30
7.18
9.75
6.94
5.56
6.92
9.49
10.24
7.60
7.32
8.11
7.82
6.76
5.63
7.81
10.29
7.77
8.38
7.27
9.87
7.01
5.62
6.94
9.57
10.33
7.70
7.40
8.23
7.90
6.74
5.70
7.83
10.36
7.88
8.50
7.38
10.09
7.13
5.73
7.03
9.77
10.42
7.73
7.46
8.23
7.95
6.79
5.71
7.87
10.36
7.89
8.53
7.41
9.96
7.19
5.82
7.06
9.86
10.41
7.75
7.48
8.26
7.98
6.81
5.74
7.89
10.56
7.91
8.56
7.43
9.93
7.20
5.83
7.10
9.85
10.44
7.80
7.53
8.32
8.04
6.79
5.76
7.94
10.52
8.01
8.62
7.47
10.08
7.23
5.85
7.13
9.70
10.43
7.88
7.62
8.40
8.12
6.83
5.78
8.11
10.76
8.05
8.67
7.51
10.14
7.25
5.91
7.17
9.68
10.53
7.92
7.64
8.45
8.15
6.92
5.83
8.20
10.68
8.17
8.75
7.55
10.25
7.31
5.93
6.56
6.33
6.86
7.73
5.08
4.57
7.84
7.53
8.30
10.09
6.56
4.58
8.87
5.48
6.96
4.88
5.78
5.85
6.62
6.40
6.90
8.10
5.07
4.50
7.96
7.53
8.36
10.25
6.55
4.56
8.89
5.48
6.98
4.89
5.77
5.78
6.65
6.41
6.90
7.82
5.20
4.60
7.99
7.62
8.40
10.21
6.65
4.60
8.94
5.49
6.99
4.89
5.83
5.81
6.74
6.50
6.95
7.69
5.27
4.73
8.09
7.74
8.53
10.38
6.79
4.65
9.19
5.59
7.09
4.98
5.91
6.00
6.82
6.57
7.09
7.86
5.31
4.75
8.18
7.79
8.60
10.52
6.88
4.69
9.27
5.64
7.19
5.02
6.02
6.09
6.89
6.63
7.13
8.10
5.34
4.81
8.27
7.88
8.69
10.38
6.97
4.74
9.30
5.62
7.23
4.99
6.00
6.12
6.97
6.72
7.21
8.50
5.35
4.89
8.27
7.92
8.74
11.06
7.06
4.86
9.33
5.80
7.32
5.18
6.10
6.21
6.98
6.74
7.24
8.56
5.35
4.87
8.28
7.96
8.80
11.33
7.04
4.88
9.45
5.84
7.38
5.20
6.21
fi27
7.01
6.77
7.29
8.61
5.36
4.94
8.30
8.02
8.84
11.23
7.07
4.98
9.42
5.85
7.42
5.20
6.19
fi29
7.08
6.86
7.37
8.90
5.36
4.96
8.37
8.04
8.94
11.40
7.15
4.93
9.54
5.87
7.47
5.22
6.20
fisn
7.11
6.86
7.43
9.03
5.40
4.98
8.42
8.10
8.99
11.28
7.22
4.95
9.59
5.89
7.51
5.23
6.24
7.20
. r9.94
13.60
r
7.97
7.68
'8.52
8.21
r
7.10
r
5.89
r
8.31
10.76
8.23
8.81
r
7.60
10.36
7.34
5.93
'7.14
6.88
r
7.43
9.33
5.42
5.00
r
8.55
r
8.13
r
9.07
11.29
r
7.23
r
4.98
r
9.63
r
5.89
'7.51
5.23
r
6.24
'7.24
10.07
10.73
r
8.02
r
7.74
r
8.55
r
8.26
r
7.14
r
5.92
r
8.38
10.77
r
8.20
r
8.85
r
7.71
10.35
r
7.45
r
5.97
6.01
5.78
6.27
6.67
4.66
4.23
7.13
6.94
7.60
9.36
5.97
4.22
8.16
5.06
6.39
4.53
5.27
5.36
6.79
9.31
10.18
7.42
7.06
7.92
7.64
6.76
5.59
7.69
9.96
7.63
8.21
7.12
9.54
6.91
5.53
6.71
6.46
6.94
7.53
5.25
4.69
8.06
7.73
8.47
10.33
6.72
4.62
9.02
5.56
7.07
4.95
5.87
5.93
"7.30
10.17
"10.83
P
8.03
"7.74
"8.58
"8.28
"7.13
P
6.00
"8.43
"10.89
P
8.23
P
8.85
"7.83
P
10.38
P
7.49
"5.98
"7.24
"6.97
"7.51
"8.80
"5.66
"5.01
"8.70
"8.22
"9.22
"11.34
"7.34
"5.00
"9.95
"5.92
"7.63
"5.24
"6.36
p« AH
Transportation and public utilities $
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services.....
39.3
2.9
39.3
"3.0
39.2
"39.8
P
40.3
P
36.3
38 1
40.3
35.9
r
r
P
42.4
P
37.3
P
41.4
P
42.7
P
41.0
P
42.8
37.3
r
41.7
r
43.1
r
40.5
'36.4
38.5
r
39.8
r
32.1
r
P
39.8
P
32.1
P
38.5
P
30.1
P
36.4
P
38.6
30.0
36.3
32.5
32.5
AGGREGATE EMPLOYEE-HOURS f
Seasonally Adjusted
HOURLY AND WEEKLY EARNINGS f
Average hourly earnings per worker: fl
Not seasonally adjusted:
Private nonagric. payrolls
dollars..
Mining
do
Construction
do
Manufacturing
do
Excluding overtime
do
Durable goods
do
Excluding overtime
do....
Lumber and wood products
do....
Furniture and fixtures . .
do
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products §
do....
Machinery, except electrical
do....
Electric and electronic equipment @ do....
Transportation equipment §
do....
Instruments and related products .... do....
Miscellaneous manufacturing
.,. do....
Nondurable goods
do. ..
Excluding overtime
do
Food and kindred products
do....
Tobacco manufactures
do....
Textile mill products
do
Apparel and other textile products .. do....
Paper and allied products
do....
Printing and publishing
do....
Chemicals and allied products
do....
Petroleum and coal products
: do....
Rubber and plastics products, nee .... do....
Leather and leather products
do....
Transportation and public utilities
do....
Wholesale and retail trade . . . .
do
Wholesale trade
do. ..
Retail trade
do
Finance, insurance, and real estate
do....
Services
do....
See footnotes at end of tables.
10:03
171.43 '170.92 171.14
139.87 139.41 139.85
r
2.19
'2.39
2.52
8.26
'8.04 r '8.12
42.50
42.19
42.34
10.56
10.60 10.59
34.70 r34.65 r34.62
10.05
10.04
10.07
r
31.60
31.49 r31.61
r
31.57
31.51 '31.29
fi 33
rfi 33
r
7.23
6.97
r
7.46
r
9.45
r
5.51
r
4.95
r
8.73
r
8.21
r
9.14
11.43
r
7.28
r
4.96
r
9.73
'5.91
r
7.57
5.24
r
6.28
fi 33
P
171.81
P
140.42
P
2.56
P
8.06
P
42.41
P
10.61
P
34.89
"10.13
"31.75
P
31.40
107.8
"111.8
"106.2
"118.9
"119.4
P
S-14
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
September 1981
1981
1980
Annual i
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
Mar.
Feb.
Apr.
June
May
Aug.
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS f— Cont.
Average hourly earnings per worker—Cont.
Seasonally adjusted:
Private nonagricultural payrolls .. . dollars .
Mining
do....
Construction
do
Manufacturing .
do....
Transportation and public utilities
do....
Wholesale and retail trade
do
Finance, insurance, and real estate
do....
Services
do....
Indexes of avg. hourly earnings, seas, adj.: H
Private nonfarm economy:
Current dollars
1977=100..
1977 dollars $
do
Mining
do
Construction .
do....
Manufacturing
do...
Transportation and public utilities
do....
Wholesale and retail trade
do....
Finance, insurance, and real estate
do....
Services
. •
do....
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §
Common labor
$ per hr..
Skilled labor
do
Farm (U.S.) wage rates, hired workers, by
method of pay:
All workers, including piece-rate
$ per hr..
All workers, other than piece-rate....
do....
Workers receiving cash wages only
do....
Workers paid per hour, cash wages only.... do....
Railroad wages (average, class I)
do....
Avg. weekly earnings per worker,
private nonfarm: If
Current dollars seasonally adjusted
1977 dollars seasonally adjusted $
Spendable earnings (worker with 3 dependents):
Current dollars seasonally adjusted
1977 dollars seasonally adjusted $
Current dollars, not seasonally adjusted:
Private nonfarm total
dollars
Mining
do .
Construction
do....
Manufacturing
do
Durable goods
do....
Nondurable goods
do
Transportation and public utilities
do....
Wholesale and retail trade
do
Wholesale trade
do....
Retail trade
do....
Finance, insurance, and real estate
do....
Services
.
•
do....
HELP- WANTED ADVERTISING
Seasonally adjusted index
1967—100
LABOR TURNOVER
Manufacturing establishments:
Unadjusted for seasonal variation:
Accession rate, total
mo. rate per 100 employees..
q
,.
,
, , -i
Quit
'
Layoff
Seasonally adjusted:
New hires
'
j
do
do
Insured unemployment, avg. weekly
do...
Percent of covered employment: @ @
Seasonally adjusted
Benefits paid @
mil $
Federal employees, insured unemployment,
Veterans' program (UCX):
6.66
9.17
9.92
7.27
8.87
5.48
5.78
5.85
6.66
9.07
9.93
7.29
8.90
5.50
5.77
5.86
6.72
9.16
10.02
7.36
8.93
5.54
5.83
5.91
6.76
9.31
10.05
7.41
8.94
5.57
5.87
5.94
6.83
9.36
10.15
7.49
9.12
5.61
5.91
6.00
6.90
9.49
10.21
7.59
9.20
5.66
6.02
6.07
6.94
9.57
10.30
7.63
9.26
5.69
6.00
6.11
6.99
9.77
10.39
7.69
9.33
5.72
6.10
6.15
7.04
9.86
10.44
7.74
9.44
5.78
6.21
6.20
7.09
9.85
10.49
7.80
9.48
5.81
6.19
6.24
7.14
9.70
10.52
7.90
9.57
5.84
6.20
6.27
7.18
9.68
10.57
7.95
9.67
5.89
6.24
6.32
7.23
9.94
10.69
r
7.99
r
9.74
r
5.91
r
6.24
r
6.38
r
7.27
10.07
10.76
r
8.02
r
9.75
r
5.93
r
6.28
6.41
"7.34
"10.17
"10.82
"8.09
"9.94
P
5.97
"6.36
"6.50
116.7
97.3
122.9
114.1
117.6
116.8
118.0
116.0
115.1
127.3
93.5
134.1
121.8
129.4
127.2
127.8
127.0
125.5
127.6
93.8
134.3
121.8
130.4
127.7
128.2
126.7
125.0
128.7
93.9
135.0
122.8
131.3
128.0
129.3
128.6
126.6
129.4
93.3
136.7
123.1
132.3
128.1
129.9
129.1
127.3
130.6
93.2
137.5
124.4
133.5
130.9
130.8
129.9
128.5
132.1
93.2
139.2
125.2
134.6
132.6
132.3
132.4
130.5
132.6
92.7
139.8
126.2
135.4
132.8
132.4
131.9
131.1
133.8
92.8
142.0
127.6
136.5
133.7
133.7
133.2
132.0
135.0
92.7
143.2
128.0
137.5
135.4
135.0
135.0
133.2
135.8
92.8
144.0
128.6
138.5
136.1
135.8
136.0
134.0
136.7
93.0
145.7
129.0
139.9
137.3
136.4
135.4
134.8
137.7
93.1
145.6
129.4
140.7
138.9
r
!37.4
136.8
136.0
138.4
r
92.9
147.2
130.4
141.6
139.8
137.8
137.1
136.6
139.0
92.2
148.5
131.7
142.5
140.1
138.3
137.6
136.9
"140.6
"92.6
"149.4
"132.0
"143.6
"142.5
"139.5
"140.1
"139.4
10.78
14.22
11.73
18.42
11.83
15.49
12.02
15.70
12.17
15.79
12.25
15.91
12.28
15.95
12.29
16.04
12.28
16.07
12.28
16.07
12.36
16.11
12.45
16.13
12.56
16.30
13.03
16.85
13.03
15.85
"13.09
"16.98
3.39
3.34
3.58
3.41
8.93
3.66
3.59
3.82
3.67
9.92
3.54
3.49
3.74
3.62
10.11
10.28
10.31
3.85
3.73
3.92
383
10.25
10.49
10.39
4 12
404
4.36
409
10.51
10.71
10.49
392
3.88
409
3.91
10.58
10.62
10.64
219.91
183.41
235.10
172.74
233.77
171.89
236.54
172.53
238.63
172.05
241.10
172.09
243.57
171.89
244.98
171.19
246.75
171.12
247.81
170.20
250.28
170.96
252.76
172.06
253.45
171.37
254.50
170.92
178.00
148.46
188.82
138.74
205.39
151.02
207.49
151.34
209.08
150,74
210.95
150.57
212.83
150.20
213.90
149.48
213.96
148.38
214.75
147.49
216.62
147.96
218.48
148,73
219.00
148.07
219.91
365.07
342.99
269.34
290.90
236.19
325.58
164.96
247.93
138.62
190.77
175.27
235.10
396.14
367.04
288.62
310.78
255.84
351.25
176.46
267.96
147.38
209.24
190.71
234.39
380.94
373.23
282.85
302.64
254.87
354.71
178.65
266.64
150.61
208.87
191.32
236.79
395.71
374.49
287.62
308.47
259.35
354.92
179.52
268.42
151.10
211.63
192.31
239.69
404.99
386.84
295.32
318.38
262.36
358.09
179.03
272.20
149.49
211.91
193.32
241.81
408.10
388.10
298.10
322.80
263.53
365.76
179.44
274.38
149.40
214.53
195.60
244.28
413.76
376.83
305.52
330.08
268.71
368.02
181.04
276.82
150.60
218.53
198.53
247.06
422.04
384.28
314.16
341.55
274.91
372.00
182.65
281.25
152.20
217.80
199.51
246.75
425.97
379.29
308.43
332.49
273.22
367.60
183.86
281.82
152.81
222.04
201.83
247.10
422.01
364.35
306.13
329.57
271.52
373.28
185.13
282.65
153.92
226.04
204.40
249.92
416.66
388.37
311.22
336.96
274.09
371.15
186.62
285.67
154.96
225.32
205.05
250.98
422.92
384.87
312.84
338.52
275.41
374.92
188.43
287.60
156.60
225.06
205.38
252.38
423.98
388.56
317.59
343.07
280.13
376.89
188.48
289.14
156.38
225.26
205.73
254.88
418.47
394.32
320.39
345.91
282.03
383.27
190.25
289.89
158.99
225.26
206.99
257.02
434.02
404.52
317.59
342.00
282.69
387.25
193.26
292.96
161.39
227.96
208.89
158
129
118
117
122
127
134
130
128
129
125
118
118
121
123
4.0
2.9
4.0
2.0
1.1
3.5
2.1
4.0
1.5
1.7
3.8
2.1
4.2
1.4
2.0
4.5
2.5
4.8
2.2
1.7
4.3
2.6
4.1
1.9
1.4
3.6
2.2
3.7
1.4
1.5
2.7
1.6
3.0
1.1
1.3
2.2
1.2
3.1
0.9
1.6
3.4
1.8
3.6
1.2
1.6
3.0
1.8
3.1
1.1
1.2
3.4
2.0
3.2
1.2
1.2
3.3
2.0
3.1
1.3
1.0
3.5
2.3
3.1
1.3
1.0
4.0
2.8
3.2
1.4
1.1
3.6
2.3
3.6
1.5
1.3
3.4
1.9
3.8
1.3
1.7
3.6
1.9
3.9
1.3
1.9
3.8
2.1
3.5
1.3
1.5
3.8
2.1
3.4
1.3
1.4
3.6
2.1
3.3
1.4
1.2
3.6
2.2
3.3
1.5
1.1
3.5
2.2
3.6
1.5
1.3
3.6
2.3
3.8
1.5
1.4
3.5
2.2
3.6
1.4
1.4
3.2
2.0
3.3
1.3
1.2
3.1
2.0
3.4
1.3
1.3
3.4
2.2
3.4
1.4
1.3
3.3
2.2
3.2
1.5
1.0
2,949
3,008
1.741
r
2;596
2,739
do
Separation rate total
.
.. do....
Quit
do....
Layoff
do....
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weeklv '•$• @
thous
State programs (excl. extended duration prov.):
Insured unemployment, avg. weekly
Beneficiaries, average weekly
Benefits paid
Railroad program:
Applications
Insured unemployment, avg. weekly
Benefits paid
See footnotes at end of tables.
6.16
8.49
9.27
6.70
8.16
5.06
5.27
5.36
2,592
3,837
4,140
3,911
3,961
3,660
3,726
4,085
4,621
4,264
3,948
3,453
3,111
20,160
2,433
25,412
3,350
2,737
3,692
1,828
3,408
1,702
3,087
1,808
2,903
1,673
2,983
2,544
3,321
2,653
3,844
1,806
3,669
1,684
3,382
1,647
2,988
1,417
2,691
3.0
2.9
2,033
8,612.9
2,844
14,584.9
3.9
4.3
4.4
4.5
3,026
3,130
1,397.5 1,244.4
3.6
4.4
2,656
1,144.9
3.3
3.4
3.8
3.8
3.5
4.1
2,488
2,738
2,381
1,125.4 1,055.1 1,243.0
4.4
3.4
3,234
1,416.5
28
29
26
25
29
32
35
37
41
40
36
31
25
56
56
24.8
17
54
54
21.0
21
55
58
27.0
19
, 57
59
26.6
16
46
49
23.0
7
36
14.3
11
41
18.0
13
51
233
17
54
55
22.5
g
48
22.0
18
51
53
24.7
10
40
18.8
23
56
55
25.9
g
35
17.8
5
45
23.2
6
41
19.2
do...
domil $
282
52
52
287.5
267
55
56
294.8
27
58
72
33.3
23
55
58
24.6
thous
do...
mil. $.
107
18
82.5
162
34
176.1
44
35
13.3
13
37
17.3
r
255.90 "259.10
169.81 "170.69
r
219.80 '220.85 "223.26
147.62 146.55 "147.08
r
r
r
3.4
3.0
3.9
3.1
4.2
3.4
3.4
3.3
3.4
3.2
2,331
2,698
2,256
3,069
3,220
1,313.5 1,393.6 1,226.8 1,006.3 1,012.8
3.1
3.2
27
25
25
15
43
43
20.0
19
r
42
44
21.1
44
7
38
15.4
26
30
16.2
41
29
11.5
"259.88
"441.38
"405.04
"320.40
"344.92
"285.26
"396.01
"193.58
"294.52
"161.92
"231.50
"211.20
S-15
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
July
Annual
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
Aug.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Industrial disputes:
Number of stoppages:
Beginning in month or year
Workers involved in stoppages:
Beginning in month or year
Davs idle durine month or vear
number-
4000
r
1400
31.500
r
4,827
1727
34.754
thous .
do....
414
241
3.954
r
r
374
r
80
'3.079
r
420
126
'3.407
r
347
'90
'2.195
r
201
r
52
1.110
66
253
347
314
371
473
421
391
18
617
50
614
90
647
271
1.419
101
5.117
152
5.857
186
3.891
127
2.015
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil. $.
Commercial and financial co. paper, total
doFinancial companies
do
Dealer placed
doDirectly placed
do .
Nonfinancial companies
do...
45321
54744 54334 54486 55774 56610 55226 54744 54465 58084 60089 62320 60551 63427
110,432
121,597
120,424 119,339 119,781 121,324 124,484 121,597 128,187 129,929 130,118 134,696 140,056 145,994
r
r
81 617
86 242 r80 592 r81 231 '81 257 '83936 '86 268 '86 242 '88 532 '88 527 '89 682 '92 226 '95 716 99 458
17,001 18,479 16,726 17,485 17,503 '17,672 '18 605 18 479 18 927 '19 498 '20 652 '22 082 '22 675 23438
64616
67763 63866 63746 63 754 66264 67 663 67763 69 605 69029 690.30 70 144 73041 76020
28,815
35 355 39832 38108 38524 37 388 38216 35355 39655 41402 40436 42470 44340 46536
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total, end of period;...
mil. $.
Federal land banks
Loans to cooperatives
Other loans and discounts
do
do....
do....
Federal Reserve banks, condition, end of period:
Assets, total #
mil $
Reserve bank credit outstanding, total # .. do....
Time loans .. .. . . . . . .
do
U.S. Government securities
do....
Gold certificate account
do
Liabilities, total #
,.
do
Deposits, total...
do
Member-bank reserve balances
do....
Federal Reserve notes in circulation
do....
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held total
mil $
Required
do
Excess
do .
Borrowings from Federal Reserve banks
do....
Free reserves
do
Large commercial banks reporting to Federal Reserve System, Wed. nearest end of yr. or mo.:
Deposits: $
Demand adjusted §
mil $
Demand total #
do
Individuals, partnerships, and corp
do....
State and local governments
do....
U S Government
do
Domestic commercial banks
do....
Time, total #
...
Individuals, partnerships, and corp.:
Savings
Other time
Loans (adjusted), total §$
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
66239
66975
67966
68324
68648
70 105
70886
72 123
73382
74 452
75 207
76412
36107
8*033
21514
36470
8388
21381
36843
8902
21 230
37 260
9988
20718
37 612
10261
20451
38 138
9506
21005
38 740
10324
21042
39 375
10056
21 455
40 264
9 802
22057
41 111
9648
22 624
41 913
9361
23 178
42693
8807
23707
43450
8 897
24 065
162 860 167 788 164 067 169 041 171 495 161 467 161 824
134,462 134,437 135,029 139,576 137,644 129,492 129,152
1 515
982
1 567 2 284
1 809 1 304 1 249
119,848 120,711 12M82 120,812 121,328 117,169 117,621
11 172 11 168 11 163 11 162 11 161 11 159 11 156
162 860 167 788 164 067 169 041 171 495 161 467 161 824
167 040 168 067 164 447 171 311 167 377 168-429
131,037 132,896 130,939 132,227 134,957 136,699
1 9*?4
656
2 333
1 366 1 010 1 O97
118,043 119*687 118,311 120,017 123,172 124,522
111
^4
11 154 11 154 11 154 11 154
n i ^4
167 040 168 067 164 447 171 311 1A7 V71 I C C 4OQ
35708
29,520
113,355
31 546 32 810 33 141 33071 33088 34809 31 546 30 747 29 777 29 983 31 310 27 213 27 423 9Q fiQft qr» qqo
27,456 27,548 29,338 28,146 30,518 31,528 27,456 26,621 26,734 26,164 26,063 24,304 23,626 26,011 27,045
124 241 115 654 116 925 117 144 118248 121 191 124 241 118 147 118 854 120 874 121 852 123 251 124 783 124 765 125 134
143 972
143*573
*394
1
1,473
x
-997
140 097
140 067
123 332
119 584 107 900 109 474 112 467 108 156
228 967 188 299 r204 865 208 621 191 810
158*722 131,854 143*267 145*288 135,213
5,933
4,982 '4,907
5,135
4,658
1 088
821 1 019 1 031
787
41,710 30,443 '36,589 37,552 34,457
r
313 750 274 744 282 456 285 113 289 376
207 817 228 967 185 566 183 252 206 616 188 663 195 134 209 662 17q 4ftK 1 87 A.RK
143,831 158,722 127,940 123,777 139,810 128,835 130,752 140,425 122,049 128,044
4,804
5,933
4,846
4,714
4,938
4,456
4,262
5,176
4,532
4,163
2964
1 088 1 676 1 579 1 005
2 881
3 312 1 082 1 784 1111
36*804 41,710 34,044 35,230 38,664 32*839 36,735 41,213 27,901 36,984
300 970 313750 320 947 320 996 321 801 322 992 334 602 337 291 341 228 349 890
404 117
160 317
9,904
26,610
100 542
138 475
72313 74908 r76 240 76664 76042
205 805 169 224 174 761 177 063 181 124
433 583 393 836 r404 474 410 632 412 556
174 751 158 408 161 761 166 261 166 168
9,979
6,466 '6,926
7,644
7*084
25,988 23,140 '23,470 24,281 24,024
111 665 106437 107 406 108 246 109 464
135 983 120 497 '129 017 128 393 126 159
74 946 72313 74 382 75 072
193 269 205 805 210 718 209 948
424 173 433 583 425 949 423 216
172 266 174 751 171*414 169 482
8,960
9,979
7,746
8,182
24,842 25,988 25,253 24,875
110 728 111 665 112 866 113 681
133 629 135 983 131 059 131 875
108 868
36,406
31 533
72462
118 036 114 154 116303 114 866 114 236 116 520 118036 117 337 118 190 120 108 117 234 121 042 119 513 118 132 117 549
39539 38 383 '40 526 38706 37674 39409 39539 39777 40816 41 754 39720 42 128 40 599 40657 38 856
35 242 33474 '35 076 34 382 33 897 34 422 35 242 33 438 33 726 33 897 34 9fln q^ AAA qq Qft7 qq Aif\ qi 007
78497 75*771 '75 777 76 160 76 562 77 111 78 497 77 560 77 374 78*354 77 514 78 914 70 QI A 77 A_'7K.
1,134.6
93.8
191 8
848.9
1,237.2
110.7
2139
912.7
220 048
156,462
5,992
868
36,052
269 049
do
do
do
do.. .
do....
do....
do
do.. .
75202
160 840
"30
1,617
!-_! 471
12.00
10.09
percent
do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
..percent..
65654
38 138
9506
21,005
162 947 171 495 160 556
135,092 137,644 132,648
1 454
1 809
562
117,458 121,328 119,563
11 112
11 161 11 172
162 947 171 495 160 556
40373
40071
302
659
347
41 164
40 908
256
1,311
1 029
41 815
41 498
317
1,335
951
41 678
40723
955
2,156
1 102
40 097
40067
30
41 514
41 025
489
1,617
1 471
1,405
796
111 706 119 584 100 185
1,163.6 1,180.9
105.7
102.0
204 1
2069
857.5
868.4
1,193.4
107.7
2075
878.1
1,206.5
109.1
2099
887.6
1,224.3
110.5
212 1
901.7
1,237.2
110.7
2139
912.7
39 752
39 372
*380
1,004
-427
40 097
40*071
26
1,343
1 156
4.1 n*\<i
40 675
*378
1,751
1 125
A1 (\OA
40 213 40 098
131
550
2,154
2,038
1 764 1 197
95 658 106 246
97 595
97 121 101 467
Q7 flA^
QK q/M
39 650
39 448
202
1,278
928
Af\ q44
Af\ CJ.fi
40 753
*271
1,408
917
79 344 77 897 77 797 78 236 76 373 7fi 904.
208 372 211 052 221 968 226 009 232*390 239 748
430 070 430 525 437 332 450 145 442 601 452 410
172 782 174 525 176623 182 502 180 479 184 978
10,151
8,708 10,396 12,100
9,160
8,622
24,598 25,338 25,836 26,774 25,929 27,119
114 468 115 337 116 622 117 723 118 697 120 047
134 392 129 376 132871 137 441 133 067 139 661
1,253.3 1,262.9 1,262.4 1,267.0
113.5
115.2
114.8
115.1
2162
217 2
218 3 '217 6
923.6
930.4 '929.3
934.2
1,279.3
117.5
218 7
943.1
1,285.4 1 291 6
119.3
120.4
219 0
219 5
'947.1
9516
12.87
12.22
10.87
10.00
10.17
11.00
11.47
12.87
13.00
13.00
13.00
13.00
2
12.59
12.03
11.82
11.50
11.53
11.90
12.29
12.93
13.35
13.65
13.87
13.95
14.00
14.29
2
1048
2
2
1225
2
1208
12.23
1184
11.89
1195
12.00
1220
12.31
1262
12.85
1286
13.15
1280
13.24
1302
13.73
1348
13.91
1362
13.99
13 56
14.19
14 12
14.40
'14 14
14.77
14 64
14.99
3
11.04
3
10.91
3
3
12.78
3
12.29
3
11.28
8.58
8.29
8.03
9.85
9.61
9.08
11.13
11.04
10.29
1269
12.32
11.15
1534
14.73
13.07
1796
16.49
14.78
16 62
15.10
14.09
1554
14.87
14.05
13 88
13.59
12.89
1465
14.17
12.94
17 56
16.66
14.97
1627
15.22
14.13
17 10
16.09
14.47
17 22
16.62
15.32
11.506
8.126
9.259
10.321
11.580
13.888
15.661
14.724
14.905
13.478
13.635
16.295
14.557
14.699
15.612
12.58
10.25
3
42859
42575
284
395
104
2
10.66
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month $$
do....
Finance co. paper placed directly, 6-mo @ do....
See footnotes at end of tables.
68648
31284
8091
19,122
do
Investments, total $
do..
U.S. Government securities, total
do....
l
Investment account *
do
Other securities .
do
Commercial bank credit, seas, adj.: t
Total loans and securities
fl
bil. $..
U.S. Treasury securities
do....
Other securities
.
do
Total loans and leases
ft
>
do....
Money and interest rates:
Discount rate (N.Y.F.R. Bank), end of year or
month
percentFederal intermediate credit bank loans
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg )
Existing home purchase (U.S. avg.)
58496
10.041
3
4
14.00
14.59
14.00
14.83
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FINANCE—Continued
CONSUMER INSTALLMENT CREDIT f
Total extended and liquidated:
Unadjusted:
Extended
Liouidated
Seasonally adjusted:
Extended total #
.
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
mil. $..
do
By major credit type:
Automobile
Revolving
Mobile home
Liquidated total #
By major holder:
Commercial banks
Finance companies
24,918
24,088
31,052
25,669
23,145
26,027
23,672
25,037
29,519
27,940
29,117
26,464
28,321
26,275
30,477
27,485
29,468
27,040
27,064
27,365
25,991
27,149
27,059
28,706
29,822
28,878
28,149
29,005
28,750
.
11,107
5,155
3,085
4,263
11,671
5,355
2,752
4,596
11,977
5,323
2,872
4,291
11,432
4,852
2,795
4,250
11,484
5,185
3,035
4,497
10,397
5,904
2,994
4,673
11,648
6,193
3,167
4,500
12,676
5,911
3,153
4,685
11,986
5,218
3,181
5,002
12,055
4,937
3,212
4,486
12,483
5,251
3,137
5,018
12,433
5,439
3,299
4,826
.
do....
do
. do
6,068
10,679
377
7,544
11,124
513
26,663
7,237
11,483
383
26,190
7,205
12,352
551
26,547
7,320
11,904
609
26,803
8,178
12,190
451
26,710
8,700
12,071
641
26,714
7.442
12,668
488
25,152
7,234
11,614
479
25,530
8,333
11,867
409
25,196
7,518
11,143
442
26,009
7,117
10,953
424
do ...
7,400
10,700
415
25,687
27,075
265796
do
do
11,847
4,370
2,575
4,059
11,789
4,768
2,620
4,103
11,936
4,742
2,716
4,140
12,313
4,869
2,809
4,157
11,552
4,258
2,577
4,198
11,760
4,325
2,657
4,181
11,754
4,791
2,706
4,264
12,192
4,663
2,723
4,397
12,064
4,372
2,866
4,432
12,331
3,965
2,909
4,471
12,069
4,528
2,821
4,489
11,869
4,681
2,918
4,602
12,001
4,491
2,767
4,561
. .
do
•
312,024
6,970
6,777
7,385
7,018
7,515
7,354
7,300
10,926 11,426 11,484 11,514 11,554 11,650 11,713
399
384
406
553
366
456
407
313,435 303,853 305,763 306,926 307,222 308,051 313,435 310,554 309,188 310,766 313,419 315,465 318,459 320,886
154,177
68,318
46,517
28,119
145,765 146,555 146,548 146,362 145,895 145,147 145,765 143,749 142,030 141,897 142,070 142,143 143,310 144,020
76,756 73,909 74,433 74,823 74,985 75,690 76,756 77,131 78,090 79,490 81,033 81,794 82,723 83,924
44,041 42,644 43,347 43,562 43,518 43,606 44,041 43,601 43,776 44,212 44,390 45,055 45,686 46,096
29,410 24,620 24,918 25,301 25,703 26,469 29,410 28,300 27,329 26,965 27,227 27,319 27,412 27,469
116,362
56,937
16,838
116,327 116,125 116,868 116,781 116,657 116,517 116,327 115,262 115,677 117,517 118,479 118,932 119,685 121,002
59,862 53,036 53,771 54,406 54,598 55,304 59,862 58,985 57,566 56,831 57,322 57,524 58,47Q 58,976
17,327 17,004 17,068 17,113 17,276 17,293 17,327 17,244 17,189 17,273 17,422 17,626 17,724 17,784
6,785
10,641
363
do ..
do
do....
do
?
do....
do ..
Revolving
do ..
Mobile home
.
do....
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit (—)
f
28,136
27,840
26,176
mm anies
f-h
hT
h h lanrps
t'
26,907
25,744
10,098
4,809
2,305
4,148
By major credit type:
R
R t\
27,391
25,481
23,997
Total outstanding, end of year or month #
By major holder:
Credit unions
Retailers
24,984
25,530
do .
Mobile home
r
305,887
304,477
do
do . .
do
do
Retailers
By major credit type:
Automobile
Fi
324,777
286,396
National Aeronautics and Space Adm
7,434
10,665
399
7,343
10,851
372
6,872
10,688
400
6,932
10,998
413
'520,050 37,348 44,259 53,544 38,923 39,175 48,903 52,214 38,394 44,623 74,464 38,514 70,688
'579,011 52,409 50,755 47,289 56,304 48,049 56,202 59,099 53,969 54,217 57,198 54,608 55,619
6,255 -17,382 -8,874 -7,299 -6,884 -15,575 -9,593 17,266 -16,094 15,070
'-58,961 -15,062 -6,496
9,593 -17,266 16,094 -15,070
6,884 15,575
8,874
7,299
6,496 -6,255 17,382
'58,961 15,062
572
539
6,772 13,916 15,138 -3,725
4,758
9,231 13,668
6,260
9,737 11,111
'70,515
1,659 -5,545 -13,541 15,555 -15,642
112
-357
-6,369
5,325 -4,615 -12,515 12,624
VI 1,554
'833,751 '914,317 888,367 900,075 914,317 914,782 920,316 936,686 940,528 956,898 970,901 970,326 974,758 977,350
'644,589 '715,105 697,734 708,844 715,105 719,862 729,094 742,761 749,533 763,449 778,587 774,863 775,402 775,973
mil $ '465,955
'493,607
do
do.... 1-27,652
1
27,652
do
'33,641
do
'-5,989
di
do
Meld by the public
do
Budget receipts by source and outlays by agency:
Receipts (net) total
mil $
P
. . .
.
/ f.
i
Social insurance taxes and contributions
(net)
mil $
Other
do
Outlays total #
Agriculture Department
Defense Department military
Health and Human Services
Department §
7,045
10,419
382
'465,955 '520,050
'217,841 '244,069
'64,600
'65,677
37,348
19,773
2,136
44,259
19,527
1,367
53,544
26,936
8,884
38,923
21,150
1,284
39,175
20,851
1,003
48,903
23,725
9,387
52,214
30,964
2,158
38,394
15,348
564
44,623
13,693
8,586
74,464
38,659
9,371
38,514
10,496
1,011
70,688
33,729
15,792
'141,591 '160,747
'50,634
'40,847
'493,607 '579,011
do
'24,555
do.... '20,636
'115,013 '132,840
do
10,253
5,188
18,546
4,816
13,242
4,078
11,078
4,714
14,363
4,728
17,211
5,272
15,784
6,560
20,201
6,232
20,694
6,312
14,657
6,510
52,409
1,195
11,439
50,755
1,374
11,402
11,283
5,205
47,289 '56,306
1,340
1,785
11,345 12,705
48,049
1,829
11,601
56,202
3,415
12,281
59,099
5,212
12,424
53,969
2,390
12,544
54,217
1,802
13,263
57,198
1,546
13,000
54,608
1,456
13,500
55,619
2,117
13,464
'194,691
'76,642
'4,850
'21,135
17,455
6,815
423
1,713
17,992
5,164
456
2,655
17,153
5,016
356
744
19,017
7,286
479
2,857
16,919
5,625
425
717
19,133
10,944
499
3,028
19,083
5,222
381
1,921
18,702
6,936
459
1,953
18,783
6,878
559
1,025
19,308
8,376
483
2,164
18,897
7,415
461
1,668
19,074
12,100
509
1,784
r
461.11
'479.21 r457.85
'33.02 r r31.30 '31.23
226.97 219.01 '220.38
131.08 126.58 127.32
118.12 113.83 114.54
14.42
15.03
14.25
r
r
39.66 r39.91
41.41
r
3.21 r '2.28 r r2.04
r
24.77
25.81
28.49
'466.57
'31.35
'223.59
128.06
115.24
14.59
'40.21
'2.10
'26.67
'470.72
'31.57
'226.03
128.96
116.09
14.79
'40.50
1.52
'27.34
'476.29 '479.21
'31.82 '33.02
'228.99 226.97
129.81 131.08
116.91 118.12
14.92 15.03
'40.81 '41.41
1.82
'3.21
'28.11 '28.49
482.01
33.56
229.64
131.71
118.78
15.66
41.99
1.82
27.63
485.03
34.34
230.00
132.57
119.60
15.87
42.57
1.59
28.09
490.15
34.66
232.11
133.23
120.26
16.24
43.23
1.72
28.95
493.18
34.75
233.70
133.90
120.92
16.46
43.77
1.70
28.91
497.28
35.38
235.00
134.49
121.47
16.74
44.29
1.80
29.57
500.32
36.30
235.85
135.32
122.29
16.97
44.97
1.82
29.09
44,644
29,348
15,023
273
45,055
30,635
14,146
274
46,589
34,215
12,156
218
41,221
27,468
13,596
157
42,967
30,352
12,462
154
52,345
36,537
15,589
219
48,254
37,055
11,010
189
47,321
34,282
12,837
202
96,290
38,445
57,713
133
mil $
do....
'170,297
'60,988
'4,187
'19,887
12,860
4,864
LIFE INSURANCE
Institute of Life Insurance:
Assets, total, all U.S. life insurance cos
pv
,
...
M rt
N f
In
total
'
Real estate
bil. $..
j
do
do
do
Cash
do
Other assets
do
Life Insurance Agency Management Association:
Insurance written (new paid-for insurance):
Value estimated total
mil. $..
Ordinary (incl. mass-marketed ord.)
do....
Group
do....
Industrial
do....
See footnotes at end of tables.
432.28
29.72
208.75
118.42
106.24
13.01
34.82
2.67
24.89
492,812
329,571
157,906
5.335
544,572
371,113
170,184
3,275
42,802
30,373
12,172
257
43,212
30,751
12,265
196
70,651
39,837
30,641
173
52,579
35,776
16,670
133
Aug.
S-17
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCE—Continued
MONETARY STATISTICS
Gold and silver:
Gold:
Monetary stock, U.S. (end of period) ...... mil. $
11,172
11,160 11,172 11,172 11,168 11,163 11,162 11,160 11,159 11,156 11,154 11,154 11,154 11,154 11,154
11
Net release from earmark §
do..
204
294
72
38
18
17
Exports ..
.
.
thous $ 4 907 865 3 647 932 102 151 225 620 177 515 421 774 312 274 287 932 343 344 383 071 310 606 210 307 282 140 473 202 409 217
Imports
do 1 480 203 2 750 120 202 081 162 535 540 145 330 988 157 531 131 231 200 324 160 263 90584 165 227 213447 200 958 140 388
Production:
South Africa
mil $
9551
916
1
730
80 6
768
760
77 3
74 7
71 4
730
75 2
74 3
73 5
75 6
76 0
X
2
Canada
... do
459
605
58
47
48
60
56
55
48
59
51
Silver:
Exports
thous $
471 162 1 909 733 57 527 65 526 29012 33 453 40 921 74 637 56 582 45602 41 195 26 571 11 744 31 922 21 987
Imports
. do
961 761 1 602 295 99031 85967 135 031 129 450 138 053 122 312 132 996 127 500 85900 90 319 89757 85399 67 920
Price at New York
dol. per fine oz
11094
20632 16059 15 897 20 144 20 181 18648 16393 14752 13024 12 338 11 437 10 848 10001
863
8925
Production:
United States
thous. fine oz
27397
33602
1607
1311
3277
2577
3034
2820
3607
2611
1 524 2520
2032
2 434
2 649
Currency in circulation (end of period)
bil. $
125.6
1372
1283
1297
1299
131 1
1341
1372
131 1
131 9 1339
1350
136 5
138 1 138 3
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
qc-i i
qcn 9
qcq c
Ml-A
bil $
363 4
379 7
378 7
381 1 386 6
391 7
397 7
394 1
378 9
358 7
358 9
369 5
359 4
Ml-B
.
do
3790
402 7
401 8
405 4
418 4
412 3
421 9
425 9
423 5
411 5 417 8
436 7
424 4 r 428 4
430 7
432 9
M2
do
1
473
0
16038
16194
16307
1
643
3
1
657
5
1
6669
1
675
2
1
6836
1
685
1
1
7134
1
745
7
1
737
5
1
765
1
l
751
5
1
774 8
3
M3 .. .. .
do
1 708 8 31 870 3 31 874 9 rl 892 6 rl 909 6 1 931 4rl 952 0 rl 97*} 6 rl 994 9 r2 000 9 r2 024 8 r2 052 5 r2 054 0 ro (V7K ft 9 OQ4 7 9 1 1 9 9
3
2,061.J 32,266.£ 32,264.. T2,285.{ r2,304.£ r2,327.( r2,353.6 r2,385.( r2,411.{ r2,426.i r2,446. r2 467 " r2 478 ( 2 502 I
Components (not seasonally adjusted):
liq q
Currency . .
..
do
1 1Q Q
102 3
111 8 112 7
1137
113 7
114 9
116 7
118 4
115 7
115 8 116 8 118 4
m A 1914
Demand deposits
do
2575
2641
934 1
2617
2630
2686
2728
2735
2754
259 2
238 9
235 9 r237
237 9
246 8
0
237 4
r
Other checkable deposits $$
do..
15.6
231
232
259
244
26 8
280
28 3
44 8
530
59 2
67 5
67 6
65 3
69 7
70 8
qq 9
rQQ 7
Overnight RP's and Eurodollars *
do
4O Q
272
287
29 6
31 7
330
32 7
328
32 4
32 7
31 9
33 3
34 3
38 3
Money market mutual funds
do...
26.9
69.8
80.6
80.7
78.2
77.4
77.0
75.8
80.7
92.4
105.6
117.1
118.1
122.8
134.3
145.4
397
9
qro
Q
OAA
q
rOKC
A
Savings deposits
do
446 1
4003
4080
411 4
411 9
405 0
3902
374 2
365 6
365 7
359 7
366 4
Q-J 7 q
Small time deposits @
do
5972
7086
711 1
7090
7125
721 2
7346
755 2
7769
787 7
794 8
795 2
801 0 rgQ8 9
809 8
oco
q
oqq
Q
fioc
-\
rOQ-i
{•
Large time deposits @ . ..
do
97fi 3
2053
2346
224 8
2274
231 8 2374
248 0
261 4
270 8
276 3
273 8
Measures (seasonally adjusted): $
qci q
qftl Q
qei a
Ml-A
do
3766
382 8
386 4
390 1
391 3 387 7
375 1
367 2
365 8
366 6
364 9
...
Ml-B
do... J.
3993
4069
439 9
411 8 4163
419 1
4156
4192
421 2
425 8
433 7
431 5
430 1
428 8
i 700 i 1 74.3 A. ri 74Q q 1 7fift 9 1 77ft A
M2
do
1
614
0
1
633
4
1
644
9
1
654
0
1
668
5
1
669
4
1
680
8
1
695
7
1
718
6
3
M3
do...
1 872 9 1 897 41 912 81 928 3rl 951 0 rl 965 1 rl 989 3 r2 009 1 r2 027 2 r2 046 0 *2 060 8 r2 079 0 2 094 1 9 1 1 Q Q
3
L (M3 plus other liquid assets)
do...
2,263.7 '2,291.3 r2,309.0 r2,326.0 r2,355.6 r2^378!4 r2'408'.7 r2]433l6 r2,445.3 r2,457.7 r2,480.1 2,504.3
Components (seasonally adjusted):
Currency
do ..
112 1 1134
1 91 1
1138
1149
115 7
116 1 116 6 117 2
117 9 118 9 119 8 119 9 1 9f) Q
Demand deposits
do....
2607
240 7
2654
2686
271 2
271 6
267 4
254 4
2458
243 5
243 1
236 4
237 9
236 2
q^q A
Savings deposits
do
341 3
3959
4046
407 9
4078
406 1
3930
376 9
370 8
368 3
367 0
361 1 r354 0
Small time deposits @
do....
7126
7136
718 1
7240
7380
756 8
775 7
7833
7894
790 0
798 4 rg07 7
811 5 822 5
Large time deposits @
..
do
9Qfl A
9Qfi ft
2282
2334
2296
237 7
245 4
256 8
268 0
273 9
271 0
269 5
277 2 rOQ7 q
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
mil. $..
98,698
92,443
20,982
24262
23586
29005
Food and kindred products
do....
7,340
8,223
2,120
2539
1861
2 128
Textile mill products
do....
1,340
986
196
247
255
417
Paper and allied products
do....
3,723
2,781
621
689
758
853
Chemicals and allied products
do....
10,896
11,219
2,774
2,514
3 164
3042
Petroleum and coal products
do....
21,936
25,491
5,807
5,751
5586
7673
Stone, clay, and glass products
do....
2,373
1,812
602
493
228
543
Primary nonferrous metal
do....
2,691
2,771
402
639
633
659
Primary iron and steel
do....
2,185
2,336
218
775
836
1 055
Fabricated metal products (except ordnance,
machinery, and transport, equip.) ........ mil. $..
4,431
3,936
870
977
1,035
1303
Machinery (except electrical)
do....
11,447
11,530
2,637
3329
2813
3 234
Elec. machinery, equip., and supplies
do....
7,386
7,137
1,681
1,963
2 129
2125
Transportation equipment (except motor
vehicles, etc.)
mil. $..
3,077
3,189
742
754
1010
973
Motor vehicles and equipment
do....
4,382
-3,438
1,626
269
-386
921
All other manufacturing industries
do....
15,314
14,665
3,938
3861
3 664
4079
Dividends paid (cash), all industries
do....
32491
36390
8920
9 763
9 649
9 961
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
mil. $..
57,671
80,564
8,244
5,559
5,341
6,143
4,124
6,763
5417
4402
6577 r8239 '5874 10973
By type of security:
Bonds and notes, corporate
do....
40,850
55,719
6,866
4,205
3,217
3,074
3,647
2,262
3,209
2,830
4,159 r4,694 r3,176
5,699
Common stock
do....
8,709
18,996
1018
1 123
1717
2158
1 516 2648
1 831 1 174
2 003 r2 445
2 435
4 754
Preferred stock
do....
3,525
3,634
360
131
406
491
256
241
364
149
298
85
164
188
By type of issuer:
Corporate, total #
mil. $..
53,084
78,349
8,244
5,459
5,340
5723
4034
6536
5404
4 153
6 460 r7 224 r5 775 10 641
Manufacturing
do....
24,398
11,563
3232
1,856
1509
1069
550
2 422
2244
1 344 1 820 1r 990 2 172
1 895
Extractive (mining)
do....
3,192
4,818
207
238
533
244
263
830
542
521
619
562
753
1 997
Public utility
do....
15940
13736
1085
1444
1 169
1487
892
1 058
692
853
1 161 r l 468 r l 499 1 839
r
r
Transportation
do....
3297
3745
334
378
463
357
200
260
477
126
189
288
96
602
r
Communication
do....
4,694
6,845
787
626
598
830
260
278
76
303
958
710
57
1 506
Financial and real estate
do....
12,867
15,638
1,416
712
764
1,138
587
1,182
1,100
585
1,305 1,743
858
2,201
State and municipal issues (Bond Buyer):
47 133
q 9Kc
Long-term
do
42261
9 777
4 725
3918
4 226
4 391
2 943
3 738
2 574
2 890
3 695
5 082
3 358 I A QO1
Short-term
. .
.do
20897
26485
2621
2375
2379
9 ft33
1 775 2 197
1 363 1 825 2 155
1 718 1 881 4 763 r3 756
2 267
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
mil. $..
11,619
14,721 11,522 12,007 12,731 13293 14363 14721 14 242 14 171 14 243 14 869 14 951 15 126
Free credit balances at brokers:
Margin accounts
do....
1,105
2,105
1,665
1,695
1,850
1,950
2120
2 105
2065
2225
2340 r 2 270 r2 350
2 350
Cash accounts
do....
4,060
6,070
4,905
5,680
4,925
5,500
5,590
6,070
5,655
5.700
6.530
6.440
6.150
6.650
See footnotes at end of tables.
354-680 0 -
81 - S3
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1980
Aug.
July
Sept.
1981
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCE—Continued
SECURITY MARKFTS-Continued
Bonds
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite §
dol per $100 bond
Domestic municipal (15 bonds)
do....
51.1
73.4
41.4
57.4
45.5
59.9
42.1
56.3
41.1
54.3
39.7
53.4
37.8
50.9
37.2
48.1
38.0
50.4
36.1
48.4
36.5
47.9
34.5
45.9
32.9
45.0
35.1
45.8
33.0
, 43.7
31.8
39.4
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $..
4,087.89
5,190.30
400.89
367.58
373.04
414.73
427.57
709.63
353.06
324.18
398.95
430.18
418.49
457.82
444.69
475.07
percent..
10.12
12.75
11.77
12.33
12.80
13.07
13.63
14.04
13.80
14.22
14.26
14.66
15.15
14.76
15.18
15.60
do....
do
9.63
9.94
10.20
10.69
11.94
12.50
12.89
13.67
11.07
11.43
11.95
12.65
11.64
12.09
12.44
13.15
12.02
12.52
12.97
13.70
12.31
12.68
13.05
14.23
12.97
13.34
13.59
14.64
13.21
13.78
14.03
15.14
12.81
13.52
13.83
15.03
13.35
13.89
14.27
15.37
13.33
13.90
14.47
15.34
13.88
14.39
14.82
15.56
14.32
14.88
15.43
15.95
13.75
14.41
15.08
15.80
14.38
14.79
15.36
16.17
14.89
15.42
15.76
16.34
do....
do
do ..
9.85
10.39
9.60
12.35
13.15
11.48
11.43
12.12
11.28
11.84
12.82
11.36
12.31
13.29
11.56
12.60
13.53
11.72
13.20
14.07
12.02
13.60
14.48
12.22
13.37
14.22
12.42
13.60
14.84
12.61
13.66
14.86
12.72
14.00
15.32
12.85
14.45
15.84
12.90
14.25
15.27
13.09
14.48
15.87
13.22
14.87
16.33
13.50
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp (15 bonds)
do....
do
6.53
6.39
8.73
8.51
8.59
8.08
8.85
8.62
9.22
8.95
9.45
9.11
9.61
9.55
9.76
10.09
9.91
9.65
10.27
10.03
10.21
10.12
10.94
10.55
10.64
10.73
10.85
10.56
11.44
11.03
13.10
12.13
U S Treasury bonds taxable $
do
8.74
10.81
9.83
10.53
10.94
11.20
11.83
11.89
11.65
12.23
12.15
12.62
12.96
12.39
13.05
13.61
293.46
844.40
104.56
237.83
328.23
891.41
110.43
307.23
331.17
909.79
113.91
299.78
342.77
947.33
110.38
317.91
348.16
946.67
111.44
333.91
356.44
949.17
112.34
357.32
373.14
971.08
114.43
393.29
368.40
945.96
114.23
394.05
371.59
962.13
113.51
394.64
365.26
945.50
108.86
392.60
381.05 390.66
987.18 1,004.86
108.42 107.32
417.42 439.23
380.45
979.52
106.84
423.24
384.92
996.27
108.79
422.72
368.97
947.94
107.59
404.26
364.22
926.25
111.49
396.27
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
do
A
do....
Baa
By group:
Industrials
Public utilities
Railroads ••
Stocks
Prices:
Dow-Jones averages (65 stocks) .
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
Industrial total (400 Stocks) #
Capital goods (111 Stocks)
Consumer goods (189 Stocks)
1941-43—10
do....
do....
do....
103.01
114.83
115.27
83.82
118.78
134.52
131.37
86.88
119.83
135.23
129.26
88.98
123.50
140.18
136.55
93.62
126.51
143.73
142.10
95.41
130.22
148.36
145.07
92.76
135.65
155.08
153.68
92.28
133.48
152.19
149.78
90.30
132.97
151.06
147.23
94.61
128.40
145.70
143.14
94.45
133.19
151.03
149.76
100.84
134.43
152.29
150.80
105.96
131.73
149.06
146.78
104.67
132.28
148.70
144.84
108.55
129.13
145.30
140.10
101.63
129.63
145.95
141.13
110.04
Utilities (40 Stocks)
Transportation (20 Stocks)
Railroads (10 Stocks)
do....
1970—10
1941-43—10..
50.40
14.53
51.74
50.54
18.52
75.57
52.82
17.97
70.79
51.18
18.83
73.90
51.10
19.85
80.64
51.49
21.77
90.82
52.08
24.65
106.28
51.66
24.55
106.74
52.01
24.25
102.31
49.81
23.64
97.69
50.36
25.02
101.32
50.96
25.88
103.25
50.37
24.48
94.77
52.15
24.12
90.91
52.28
23.55
92.55
54.06
22.99
91.12
Financial (40 Stocks)
1970—10..
NewYorkCity banks(6 Stocks) 1941-43=10..
Banks outside N.Y.C. (10 Stocks)
do....
Property-Casualty Insurance (6 Stocks) do....
12.33
44.48
104.86
119.06
12.50
44.00
102.90
127.06
13.05
46.06
107.86
130.35
13.04
45.81
105.24
133.87
13.38
45.86
107.15
140.97
13.04
43.27
103.65
134.80
12.68
43.19
103.58
128.25
12.89
46.63
109.74
126.00
13.57
48.70
117.50
129.13
13.41
48.18
116.43
126.73
14.30
49.83
119.52
136.70
14.44
49.65
119.30
142.81
14.55
52.57
118.09
142.21
15.80
58.23
127.68
155.50
14.67
53.94
120.62
146.16
14.46
53.42
117.24
140.67
New York Stock Exchange common stock indexes:
Composite
.
.
. 12/31/65—50..
Industrial
do
Transportation
.
do
Utility
do....
Finance
do
58.32
64.75
47.34
38.20
61.42
68.10
78.70
60.61
37.35
64.25
68.56
78.67
59.14
38.77
66.76
70.87
82.15
62.48
38.18
67.22
73.12
84.92
65.89
38.77
69.33
75.17
88.00
70.76
38.44
68.29
78.15
92.32
77.23
38.35
67.21
76.69
90.37
75.74
37.84
67.46
76.24
89.23
74.43
38.53
70.04
73.52
85.74
72.76
37.59
68.48
76.46
89.39
77.09
37.82
72.82
77.60
90.57
80.63
38.34
74.59
76.28
88.78
76.78
38.27
74.65
76.80
88.63
76.71
39.23
79.79
74.98
86.64
74.42
38.90
74.97
75.24
86.72
73.27
40.22
73.76
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
Industrials (400 stocks)
Utilities (40 stocks)
Transportation (20 stocks)
Financial (40 stocks)
percent
do
do....
do
do
5.45
5.18
9.19
4.68
5.47
5.26
4.R4
9.77
4.04
5.75
5.20
4.90
9.46
4.02
5.51
5.06
4.75
9.71
3.84
5.54
4.90
4.59
9.67
3.60
5.38
4.80
4.47
9.77
3.32
5.58
4.63
4.31
9.65
2.87
5.74
4.74
4.42
9.79
2.99
5.71
4.80
4.49
9.78
3.08
5.52
5.00
4.68
10.33
3.22
5.62
4.88
4.57
10.23
3.06
5.38
4.86
4.55
10.46
2.98
5.41
4.98
4.67
10.33
3.17
5.38
5.03
4.76
10.03
3.22
4.95
5.18
4.88
10.07
3.34
5.35
Preferred stocks 10 high-grade
do...
9.11
10.60
9.81
10.04
10.14
10.64
11.35
11.94
11.55
11.83
11.81
11.81
12.30
12.23
12.43
millions
299,973
10,863
475,934
15,500
38,611
1,258
43,795
1,433
41,216
1,336
50,641
1,501
43,157
1,280
49,347
1,515
42,443
1,286
33,153
1,039
49,120
1,526
48,253
1,459
41,252
1,464
46,694
1,520
251,098
8,675
397,670
12,390
31,949
1,004
35,606
1,122
35,308
1,090
42,873
1,216
36,015
1,016
41,373
1,205
35,453
1,020
27,987
834
41,888
1,239
41,575
1,204
34,253
1,019
39,713
1,232
8,156
11,352
1,022
966
1,058
1,032
989
1,025
956
816
1,175
1,123
906
1,101
Sales:
Total on all registered exchanges (SEC):
Shares sold
On New York Stock Exchange:
Shares sold (cleared or settled)
millions.
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
(sales effected)
millions
Shares listed, N.Y. Stock Exchange, end of period:
Market value all listed shares
bil. $.
Number of shares listed
millions.
960.61
30,033
954
VALUE OF EXPORTS
Excl. Dept. of Defense shipments
Seasonally adjusted @ @
By geographic regions:
Africa
Asia
Australia and Oceania
Europe
Northern North America
Southern North America
South America
See footnotes at end of tables.
921
1,242.80 1,101.19 1,115.48 1,147.60 1,168.11 1,289.71 1,242.80 1,189.19 1,203.16 1,248.95 1,229.56 1,238.19 1,224.74 1,224.89 1,149.19
33,709 32,327 32,602 32,804 33,041 33,427 33,709 33,993 34,211 34,670 34,967 35,545 36,859 37,404 37,567
FOREIGN TRADE OF THE UNITED STATES
Exports (mdse.), incl. reexports, total @
12.63
mil. $. 181,815.6 220,704.9 17,213.7 17,946.1 17,829.0 19,948.9 18,614.0 19,545.1 47,964.0 18,845.4 22,928.5 20,511.9 19,988.7 20,261.5 18,569.0
1
do- 181,650.8 220,548.7 17,177.7 17,938.4 17,800.9 19,936.9 18,609.9 19,537.5 1 17,962.2 18,838.0 22,917.7 20,509.3 19,986.1 20,254.7 18,565.2
18,075.0 19,103.4 18,701.0 19,088.5 18,634.3 19,117.7 18,824.8 19,764.1 21,434.2 19,818.0 18,869.4 19,870.1 19,264.3
do...
do...
do
do...
do
6,298.8
48,771.3
4,318.8
60,025.9
9,060.4
60,168.3
4,875.7
71,371.4
755.7
4,925.6
391.4
5,240.4
765.6
5,273.6
431.6
5,303.2
798.7
4,956.2
416.8
5,107.6
895.9
5,467.7
589.4
5,965.6
1
803.5
880.0
729.4
746.3
5,078.6 5,538.0 '5,010.9 4,897.4
393.6
388.9
'425.9
413.8
5,589.1 5,949.0 '5,686.6 6,069.1
1,097.7
998.1
6,450.2 5,466.1
498.6
514.1
7,141.1 6,068.4
928.6
5,104.0
555.7
5,795.4
1,088.4
5,293.4
692.7
5,338.0
936.3
5,280.6
515.0
5,214.1
do
dodo...
33,096.7
14,886.5
13,571.7
35,399.0
21,337.7
17.376.8
2,499.0
1,864.4
1,453.2
2,648.2
1,790.7
1,557.8
3,040.7
1,796.1
1,578.4
3,078.2
2,123.6
1,646.5
3,113.2
1,910.5
1,529.2
3,747.1
2,213.0
1,759.0
3,691.1
2,271.1
1,522.6
3,927.8
2,312.6
1,500.9
2,977.3
2,082.3
1,469.6
3,000.5 '2,737.0 3,239.5
2,121.5 '1,815.1 1,832.7
1,714.6 1 1,480.3 1,649.9
3,639.0
2,157.5
1,509.5
S-19
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
July
Aug.
Sept
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports—Continued
By leading countries:
Africa:
Egypt .
mil $
Republic of South Africa
do..
Asia; Australia and Oceania:
Australia, including New Guinea
India
Pakistan
Malaysia
Indonesia
Philippines.
Japan
1,873.6
2,463.5
157.8
217.0
132.2
239.7
163.9
184.6
145.1
241.4
152.9
352.5
do..
do .
do
do
3,649.5
1,167.0
529.1
932.1
320.2
154.2
62.6
128.9
357.2
189.0
84.8
110.7
3365
122.1
41.0
117.5
981.5
1,570.1
17,581.0
96.6
187.0
1,718.2
302.9
164.3
1,751.5
354.6
124.0
63.8
864
168.5
132.3
1,682.2
526.4
145.2
54.9
146.8
do
do
do..
4,130.7
1,689.4
642.1
1,336.9
1,545.1
1,999.1
20,790.0
139.9
148.5
1,800.1
115.7
148.7
1,793.0
5,587.0
7,485.4
631.2
537.0
546.2
678.1
584.0
572.6
'617.5
630.7
847.3
705.8
652.1
550.8
512.8
356.0
478.6
21.0
5.4
25.0
18.6
33.6
68.7
'49.5
50.1
33.9
40.0
25.2
5.2
14.6
8,477.8
10,959.8
5,511.1
1,512.8
12,693.6
869.2
407.5
43.4
870.7
807.0
444.3
35.4
907.0
815.2
871.8
896.8
8283
'839.7
863.6
864.1
940.0
353.3
378.8
49.9
151.2
927.3 1,139.6
423.9
264.7
935.4
556.3
272.8
994.6
'418.2
460.6
'343.9
258.4
'961.3 1,121.8
1,025.9
574.3
199.1
394.5
141.6
473.7
43.1
1,111.2
Europe:
France
..
do
German Democratic Republic (formerly
E. Germany)
mil. $.
Federal Republic of Germany (formerly
W. Germany)
mil. $.
Italy
do
Union of Soviet Socialist Republics
do...
United Kingdom . .
do
North and South America:
Canada
Latin American republics, total #
Argentina
Brazil
Chile
Colombia
Mexico
Venezuela
Exports of U.S. merchandise, total §
Excluding military grant-aid
Agricultural products, total
Nonagricultural products, total
4,361.8
3,607.3
10,634.9
do...
33,095.8 35,395.3
do... 26,258.9 36,030.4
do
1,889.8
2,625.3
do...
3,441.7
4,343.5
do
885.5
1,353.5
do....
1,409.3
1,735.6
do
9,847.3 15,144.6
do.... 3,933.5
4,572.8
do.... 178,590.9 216,592.2
do.... 178,426.0 216,436.0
do.... 34,755.4 41,255.9
do.... 143,832.6 175,336.3
By commodity groups and principal
commodities:
Food and live animals #
mil. $.. 22,250.9
Meats and preparations (incl. poultry) .... do....
1,126.9
Grains and cereal preparations
do.... 14,453.8
Beverages and tobacco
do....
2,336.5
Crude materials, inedible, exc. fuels #
do.... 20,756.0
Cotton, raw, excl. linters and waste
do.... 2,198.4
Soybeans, exc. canned or prepared
do.... 5,708.0
Metal ores, concentrates, and scrap ........ do.... 3,324.5
Mineral fuels, lubricants, etc. #
mil. $.. 5,620.5
Coal and related products
do.... 3,496.0
Petroleum and products
do....
1,918.2
Oils and fats, animal and vegetable
do.... 1,845.0
Chemicals
do
17,307.9
Manufactured goods #
do.... 16,234.2
Textiles
do.... 3,189.4
Iron and steel
do
2,342.0
Nonferrous base metals
do....
1,609.4
Machinery and transport equipment,
total
mil $ 70,407.3
Machinery, total #
do
44,744.5
Agricultural
do
2,635.5
Metalworking
do.... 1,391.4
Construction, excav. and mining
do.... 1,233.8
Electrical
do.... 8,635.0
Transport equipment, total
do.... 25,750.4
Motor vehicles and parts
do.... 15,076.5
Miscellaneous manufactured articles
do.... 12,637.4
Commodities not classified
do.... 9,030.3
VALUE OF IMPORTS
General imports total ..
do 206,255.8
Seasonally adjusted @
do....
By geographic regions:
Africa
do.... 24,381.6
Asia
do
66,739.3
Australia and Oceania
do.... 3,072.0
Europe
do ' 43,546.7
Northern North America
do.... 38,069.1
Southern North America
do.... 17,268.0
South America
do.... 13,172.3
By leading countries:
Africa:
Egypt
do....
381.0
Republic of South Africa
do.... 2,616.2
See footnotes at end of tables.
1
152.7
'214.4
1,432.9
1,413.0
27,743.7
1,292.6
18,079.0
2,663.0
23,790.7
2,864.2
5,882.9
4,517.6
7,982.3
4,771.7
2,833.4
1,946.3
20,740.2
22,254.6
3,632.0
3,122.8
2,963.9
2,499.0 2,648.1 3,040.6
3,087.1 3,108.7 3,141.4
190.9
259.0
.211.5
368.3
414.5
382.8
136.6
122.3
117.0
146.4
154.7
138.5
1,339.4 1,271.0 1,262.2
385.7
410.2
417.9
16,903.4 17,630.7 17,527.9
16,867.3 17,623.0 17,499.8
3,019.7 3,243.6 3,236.2
13,883.7 14,387.0 14,291.7
134.8
218.3
285.0
250.0
184.2
2679
1
370.7
3559
426.9
424.2
488.6
417.0
447.7
114.6
108
122.9
139.9
126.0
'41.9
28.9
28.9
39.9
41.6
38.6
'115.2
94.6
197.8
137.1
U04.3
123.5
'110.7
88.6
86.7
108.0
104.7
118.0
104.1
243.7 '140.3
168.7
124.4
142 1
143.6
144 4
1,828.9 '1,741.8 1,746.0 2,1.61.1 1,756.1 1,595.2 1,786.8
430 1
165.2
41 3
133.2
3,078.1 3,113.2 2,997.7 '2,736.7 3,239.5
3,510.6 3,223.9 3,580.5 '3,071.0 3,251.2
259.8
238.9
'276.7
271.7
200 4
359.8
361.4
464.8 '361.0
453.3
141.4
144.4
136.3
'135.8
102.1
158.2
128.9
174.3
'116.1
134.6
1,542.4 1,407.5 1,581.1 '1,297.4 1,329.9
463.1
397.6
409.9 '347.7
474.8
19,520.6 18,247.6 19,217.2 '17,598.0 18,522.0
19,508.6 18,243.5 19,209.6 '17,596.2 18,514.6
3,672.9 3,796.4 4,279.4 '4,067.2 3,825.8
15,847.7 14,451.2 14,937.8 '13,530.9 14,696.2
2,340.0 2,501.0 2,689.4 2,652.9 2,919.4
96.2
103.4
130.6
118.6
125.2
1,613.1 1,657.7 1,710.0 1,765.1 1,929.0
179.8
207.4
249.4
262.7
275.3
1,723.1 1,865.0 1,535.1 1,776.2 1,761.3 2,001.3
190.4
155.9
150.4
95.0
181.3
225.2
434.1
350.8
313.4
493.6
626.6
635.4
350.9
389.6
298.1
325.1
226.3
266.5
707.0
702.9
709.7
755.3
785.3
740.9
415.6
480.9
430.0
502.8
458.8
417.8
204.6
268.3
227.7
238.1
279.7
269.4
140.5
160.5
.161.7
145.3
131.0
151.0
1,792.3 1,760.1 1,665.7 1,765.9 1,488.0 1,769.0
1,724.3 1,946.9 1,836.1 1,935.5 1,717.7 1,806.4
272.6
302.0
307.5
328.2
314.1
321.5
273.1
294.4
275.5
288.4
250.1
265.3
241.2
341.7
289.9
253.2
219.9
214.1
6,730.9
7,018.7
4,761.9 4,602.7
237.1
242.6
155.1
158.0
137.1
146.3
891.6
829.0
1,972.1 2,426.9
975.8 1,186,7
1,295.7 1,303.5
640.1
562.1
193.8
271.1
198.0
260.4
193.3
265.3
332.6
130.6
33,4
116.1
2,203.5
109.0
1,442.6
175.1
84,552.9 6,698.7
55,789.7 4,646.6
3,103.6
282.5
1,756.3
160.5
1,627.7
155.5
10,484.5
865.0
28,838.8 2,080.8
14,589.6
992.5
16,343.1 1,246.1
8,419.5
456.8
164.7
214.3
1 94.0 3
3,747.0
3,639.0 3,691.0
3,690.3 3,395.1 3,533.2
212.2
172.4
299.3
330.8
332.1
348.3
115.3
158.6
119.5
144.3
150.3
145.7
1,620.0 1,603.9 1,673.4
436.8
487.8
482.4
22,494.1 20,102.3 19,618.1
22,483.3 20,099.7 19,615.5
4,666.9 3,751.4 3,566.8
17,827.2 16,350.9 16,051.3
'2,752.0 2,709.2 3,004.1
'119.3
123.3
149.4
'1,853.6 1,830.9 1,942.3
'221.7
198.3
262.3
'2,044.0 1,843.5 2,325.9
'299.5
296.4
315.0
'614.0
465.6
847.8
'275.8
274.1
234.1
'619.5
705.3
826.2
'302.6
339.2
499.3
'278.1
323.5
296.5
'123.5
124.7
206.8
'1,681.4 1,684.5 2,044.6
'1,705.2 1,664.8 2,024.6
'285.6
288.2
366.2
'240.5
228.9
243.4
'234.5
168.2
224.6
7,934.7 7,372.8 7,531.1 '6,472.0
5,130.6 4,723.7 4,791.2 '4,592,2
251.4
236.3
268.9
'231.6
173.6
163.9
168.1
'178.5
141.9
130.3
122.5
'122.7
997.3
870.7
869.3 '830.1
2,812.5 2,650.1 2,742.5 '1,880.5
1,445.9 1,312.0 1,202.0 '1,060.4
1,400.6 1,324.0 1,311.5 '1,253.9
856.4
747.9
703.8
'723.0
1 1 *V» A
115.1
162.5
1,900.0
808.5
737.9
424.9
352.0
80.3
127.2
1,088.4 1,146.5
3,927.7 2,977.0
3,561.7 3,272.0
156.3
135.0
347.1
287.3
135.9
122.8
166.5
157.7
1,735.8 1,513.0
438.5
508.7
19,851.9
19,845.1
3,191.2
16,660.7
18,198.6
18,194.8
2,841.8
15,356.8
2,640.5 2,412.1 2,330.7 2,342.3
127.5
150.4
131.2
95.6
1,722.8 1,561.8 1,482.7 1,432.9
219.0
237.5
217.7
194.4
1,823.9 1,865.0 1,594.4 1,244.5
208.6
190.0
134.1
108.6
487.2
567.2
335.0
232.0
283.2
246.2
258.0
186.3
745.5
637.7
613.8
918.6
420.8
302.7
336.9
579.2
285.8
307.1
220.5
297.7
145.4
151.8
164.5
129.4
1,763.9 1,859.2 1,819.4 1,826.0
1,940.9 1,893.3 1,802.2 1,660.1
343.4
329.7
320.3
277.3
,255.0
257.9
263.3
242.3
220.6
196.3
163.3
154.8
7,522.2 9,395.1 8,651.4
4,850.6 6,047.1 5,456.1
264.8
362.6
317.5
188.2
175.4
222.5
135.4
162.6
171.6
985.4
895.5 1,103.5
2,673.3 3,351.8 3,196.1
1,334.5 1,592.5 1,531.5
1,311.1 1,630.9 1,489.2
680.0
750.9
762.7
8,459.8
5,371.4
342.5
218.5
179.5
966.2
3,089.1
1,603.8
1,383.3
715.9
8,840.2
5,614.7
354.1
202.1
169.4
1,051.6
3,226.4
1,573.4
1,492.0
970.1
7,597.2
5,299.0
298.8
182.0
168.8
960.2
2,298.9
1,297.3
1,402.2
880.1
240,834.3 19,324.3 18,858.8 19,078.7 20,267.8 19,532.7 21,312.0 '22,577.1 21,124.3 21,362.6 22,775.2 21,454.2 22,522.2 20,349.6
18,995.4 19,235.6 19,465.0 20,060.5 19,422.4 21,173.9 '23,194.3 21,921.7 20,949.3 22,289.2 21,309.9 21,974.7 19,806.7
32,250.9
78,848.0
3,391.9
47,849.7
41,470.9
22,656.9
14,361.6
458.4
3,320.5
2,373.7 2,744.5 2,148.9 2,556.4
6,636.2 6,314.1 6,721.5 6,531.5
281.6
268.0
215.0
299.3
4,011.3 3,773.4 3,808.6 3,964.3
3,124.4 2,828.1 3,341.7 3,929.9
1,820.2 1,819.4 1,686.4 1,913.9
1,076.6 1,110.9 1,156.2 1,072.1
3.8
270.2
41.6
291.9
26.4
203.8
29.5
297.5
2,273.1 2,890.1 '3,033.3 3,044.5
6,220.5 6,837.3 '8,008.2 6,555.1
323.8
'361.6
352.3
255.0
3,730.5 4,074.2 '4,160.7 4,033.4
3,747.7 3,807.3 3,623.4 3,678.1
1,800.9 1,845.9 1,761.7 2,012.4
1,407.5 1,533.2 1,627.4 1,545.6
12.6
291.8
9.9
275.4
'59.7
'234.0
51.5
181.5
2,302.0 3,219.5 2,204.6 2,973.6
7,161.0 7,468.4 7,355.7 7,438.7
315.8
187.5
259.3
305.6
4,506.5 4,588.1 4,410.8 4,516.2
3,990.0 3,922.2 4,142.3 4,051.5
1,921.3 2,128.6 1,994.4 2,114.8
1,294.0 1,132.3 1,086.8 1,121.6
50.1
219.8
21.4
197.4
31.0
224.9
54.9
171.3
1,723.0
7,265.8
239.7
4,565.1
3,677.8
1,713.8
1,164.4
5.7
215.5
Aug.
S-20
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1980
July
Aug.
Sept.
1981
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF IMPORTS—Continued
General imports—Continued
By leading countries—Continued
Asia; Australia and Oceania:
Australia, including New Guinea
mil. $..
India
.
do .
Pakistan
do
Malaysia
do
Indonesia ...... ..
do.. .
Philippines
do....
Japan
do
Europe:
France
.... . .
do.
German Democratic Republic (formerly
E Germany)
mil $
Federal Republic of Germany (formerly
W Germany)
mil $
Italy
.
do....
Union of Soviet Socialist Republics
do....
United Kingdom
do .
North and South America:
Canada ...
do....
Latin American republics, total #
do....
Argentina
do....
Brazil
.
do
Chile ..
do....
Colombia
do
Mexico
..
do.
By commodity groups and principal
commodities:
N
'
It r 1 n odi rts total
do
Food and live animals #
do
Coffee
Q
do
do
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Metal ores
..
Paper base stocks
Textile fibers
.
Rubber
do
do....
do....
do
do....
do
Petroleum and products
Oils and fats, animal and vegetable
Chemicals ..
do....
do....
do....
Iron and steel
Newsprint
Nonferrous metals
Textiles
..
•
Machinery and transport equipment
do
do....
do
do....
do....
Metalworking
Electrical
.
Transport equipment
... .
Automobiles and parts
Miscellaneous manufactured articles
...
do...
do....
do....
do....
do....
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977-100
Value
General imports:
Unit value
.
.
do....
. -'"•
do....
Value
do....
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
?l ,PP
General imports:
Shipping weight
-i «
thous sh tons
'
See footnotes at end of tables.
2,236.1
1,037.7
120.0
2,145.6
3,620.6
1,490.1
26,248.2
161.7
255.1 '306.3
194.3
195.3
223.3
221.5
187.8
143.9
2,562.3
200.1
172.1
280.9
204.9
97.0
99.1
78.2
103.8
72.9
121.0
110.8
1,097.6
77.9
78.8
96.8
'99.5
74.9
103.3
13.8
14.7
14.4
17.4
14.4
15.1
10.4
9.5
13.0 1 '13.9
127.6
9.8
10.3
8.9
192.6
164.0
182.7
191.1
234.8
231.4 1 198.6 206.9
164.2
2,577.0
152.8
195.5
192.6
187.6
451.0
446.9
399.5
486.2
415.6
499.5
602.9
5,182.5
255.7
574.8 1552.6
429.7
346.8
440.8
162.3
178.9
142.6
175.1
150.5
197.1 180.5
162.3
1,730.3
135.4
154.1
130.9
207.9
138.9
30,701.3 2,613.4 2,541.3 2,642.0 2,568.9 2,591.8 2,713.7 '3,196.1 2,341.2 3,053.1 3,223.0 3,030.5 3,147.6 3,140.7
440.3
4,767.8
5,247.0
429.6
428.2
345.8
457.8
378.1
494.9
'499.6
455.8
465.3
456.7
501.9
469.9
36.4
43.9
3.0
3.9
2.8
3.9
2.6
4.2
'4.9
2.9
3.8
4.1
3.8
4.1
2.5
10,955.4
4,917.5
873.6
8,027.7
11,681.2 1,053.5
4,313.1
382.8
453.2
32.9
9,755.1
788.0
933.1
386.5
22.9
734.3
844.8
297.0
95.3
996.8
861.8
284.9
53.3
907.0
876.3
332.6
28.8
743.1
896.4
414.4
55.9
885.6
'995.8
'391.7
'82.9
'854.6
758.0
396.7
32.4
869.1
970.0 1,011.0
397.6
395.6
19.7
44.5
1,119.1 1,103.9
971.9
431.6
18.4
989.5
918.3
411.8
13.3
1,189.4
950.1
433.5
39.0
1,131.7
38,046.1
24,767.0
587.1
3,118.2
439.8
1,209.4
8,800.1
5,165.9
41,455.4 3,120.8 2,825.1 3,339.7 3,929.7 3,747.7 3,804.8 '3,622.0 3,676.4 3,987.7 3,921.6 4,140.9 4,048.8 3,677.2
29,851.2 2,282.6 2,141.0 2,261.8 2,419.1 2,669.2 2,824.2 '2,801.8 2,933.5 2,636.6 2,659.0 2,435.3 2,562.8 2,381.9
70.6
72.8
76.5
56.0
94.2
136.5
86.2 'H9.6
63.5
58.2
105.3
740.8
71.0
61.1
349.2
297.1
337.6
352.1
382.4
413.6
333.6 '390.2
304.1
433.3
300.0
293.3
3,714.6
323.2
34.9
46.3
54.3
70.6
39.6
50.0
30.9
40.2
'56.5
46.9
34.3
50.7
515.6
42.4
38.7
74.2
69.8
63.3
98.3
69.4
119.8
86.1
'97.2
92.2
1,240.5
69.1
88.8
93.7
1,207.7
987.5
1,072.2
'918.1 1,167.2 1,104.9 1,245.4
915.0 1,106.6 1,031.4 1,069.8
12,519.5
904.8 1,045.8
433.5
310.3
496.5
324.2
612.3
407.0
372.3
696.4 '717.7
407.0
420.5
449.0
5,297.1
339.3
16,879.5 17,425.0
189,376.3 223,409.2
15,169.5 15,762.7
395.2
554.9
3,819.7
3,872.3
2,346.3
2,539.3
1,987.5
974.3
2,771.5
2,565.0
10,652.7 10,495.9
3,249.1
3,696.1
1,546.7
1,773.4
231.2
242.1
897.1
816.1
59,997.9 79,057.7
56,035.6 73,770.9
533.4
739.8
8,582.7
7,478.6
30,064.1 32,190.4
7,363.6
7,466.5
2,322.1
2,685.2
7,622.7
6,320.1
2,216.3
2,493.3
53,677.3 60,545.7
28,043.5 31,903.6
1,442.4
1,813.7
6,588.0
8,064.1
25,633.9 28,642.0
22,074.8 24,133.9
21,006.3 23,711.0
7,183.3
4,904.6
1,439.8
17,884.5
1,335.5
40.8
347.9
213.5
195.0
253.1
857.8
326.1
130.3
19.5
57.6
5,792.3
5,421.2
30.8
705.0
2,447.3
543.5
208.5
559.5
192.2
5,166.7
2,782.0
161.9
712.0
2,384.6
2,008.1
2,182.5
553.4
1,310.9
17,548.0
1,207.2
23.3
302.3
180.1
187.5
227.6
812.4
275.0
150.4
20.9
44.8
6,235.9
5,867.7
30.8
616.9
2,486.1
629.2
201.7
508.2
191.5
4,565.7
2,578.0
183.7
647.1
1,987.6
1,663.9
2,143.2
533.2
1,219.3
17,859.3
1,121.9
20.0
217.1
152.9
172.2
261.3
837.2
279.8
136.2
11.0
75.6
5,830.5
5,460.4
33.0
641.3
2,412.9
520.0
216.0
567.4
194.7
4,952.2
2,621.5
136.8
674.6
2,330.8
2,000.3
2,077.3
911.1
1,410.6
18,857.2
1,304.8
19.2
250.7
246.8
172.4
286.3
830.6
302.4
134.3
16.5
42.7
6,231.0
5,846.1
64.6
745.9
2,629.7
544.8
224.9
688.3
196.1
5,333.3
2,754.5
150.3
729.6
2,578.8
2,210.6
2,104.2
737.4
1,529.9
18,002.8
1,441.3
21.0
273.3
199.1
334.1
243.6
856.4
303.0
144.2
17.5
64.7
5,879.6
5,446.1
51.3
650.3
2,641.9
617.4
216.5
601.7
204.4
5,236.2
2,733.8
156.7
668.1
2,502.5
2,191.4
1,983.4
548.7
1,536.0
19,776.0
1,385.9
43.1
310.8
226.0
169.0
217.4
871.2
293.2
150.8
19.5
59.2
7,218.4
6,766.8
69.0
718.1
2,854.7
737.1
232.5
656.6
209.4
5,335.7
2,874.5
155.1
747.7
2,461.3
2,014.9
2,017.2
624.4
'i.eis.o
'21,007.0
4,471.0
'29.4
'332.5
'206.9
'225.8
'253.3
'885.9
'320.9
'167.9
'26.7
'40.5
'8,014.2
'7,388.5
'50.1
'735.8
'2,910.5
'658.6
'231.2
'623.6
'258.0
'5,615.7
'2,886.4
1
186.6
'702.5
'2,729.3
'2,311.7
'2,012.5
'628.1
1,714.8
19,471.8
1,340.9
56.3
290.1
189.7
177.7
236.0
1,029.4
311.5
159.0
33.4
111.1
7,943.4
7,344.7
60.0
767.4
2,795.1
677.5
233.4
650.9
226.2
4,694.2
2,611.4
144.0
606.2
2,082.8
1,689.4
1,779.3
478.6
1,506.3
19,826.6
1,372.9
37.8
243.6
153.6
182.3
244.9
989.3
278.0
163.4
34.0
71.4
6,475.9
5,992.5
46.6
818.1
2,807.7
622.8
248.6
576.5
252.0
5,984.2
3,174.3
152.5
757.1
2,810.0
2,324.6
2,054.8
568.1
1,417.6
21,326.7
1,225.0
62.0
205.5
168.9
143.9
261.5
1,038.3
354.1
132.4
32.4
79.6
7,835.5
7,368.9
24.9
825.4
3,125.0
933.0
236.3
606.6
249.2
5,954.3
3,125.4
159.0
711.9
2,828.9
2,329.9
1,911.0
574.5
1,552.3
19,891.4
1,371.2
51.3
232.0
148.0
197.2
311.7
1,129.7
352.3
181.6
33.0
66.6
6,078.2
5,651.8
40.5
794.1
3,221.0
968.4
253.7
595.1
242.6
5,853.8
3,112.3
167.7
763.4
2,741.5
2,298.7
2,047.8
606.3
1,306.7
21,182.9
1,240.9
43.7
165.3
160.4
146.1
231.3
1,061.4
404.7
156.3
22.2
60.7
7,255.5
6,853.8
32.0
815.9
3,179.9
961.9
232.9
612.1
253.0
5,922.7
3,204.1
138.0
811.7
2,718.6
2,365.3
2,142.0
640.6
1,184.8
19,132.4
1,161.6
33.6
143.9
168.9
140.9
219.7
891.9
324.9
145.8
33.2
48.7
5,692.0
5,264.9
38.3
707.8
3,092.3
922.4
229.3
581.0
254.5
5,694.2
3,198.0
167.0
757.0
2,496.3
2,097.6
2,324.1
527.7
138.1
!32.9
183.6
138.1
124.3
171.7
139.7
128.5
179.4
140.2
127.0
178.1
142.7
139.2
198.6
146.8
126.5
185.7
147.7
132.4
195.5
'149.5
'119.8
'179.1
149.0
126.4
188.4
148.4
154.2
228.8
150.4
136.0
204.6
151.1
132.1
199.6
149.7
134.9
202.0
152.2
121.7
185.2
161.4
102.6
165.5
163.8
97.4
159.6
164.7
94.1
155.1
165.1
95.0
156.9
166.4
100.1
166.7
167.2
96.1
160.8
169.7
99.9
175.4
'173.1
'107.3
'185.8
174.3
99.7
173.8
176.1
99.8
175.8
175.9
106.5
187.3
172.5
102.3
176.5
172.4
107.6
185.4
170.0
98.5
167.4
357,793 '401,172
97,579 rl!8,835
33,978
9,619
36,373
10,225
33,668
9,662
36,364
10,642
33,354
9,723
35,590 '30,586
10,661 '10,145
30,016
9,860
36,416
12,046
36,982
13,483
38,122
13,328
35,812
12,753
38,068
13,185
35,684
12,784
40,858 '42,630
14,374 '15,920
40,302
14,657
34,240
14,073
121.6
124.5
151.3
r
128.7
110.4
142.1
597,495
140,091
r
487,936
164,924
Aug.
S-21
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
1979
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
July
Annual
1981
19SO
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
bil.
Passenger-load factor
percent
Ton-miles (revenue), total
mil.
Operating revenues (quarterly) # §
Passenger revenues
Cargo revenues
Mail revenues
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
Domestic operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
mil. $.
. do
do...
do...
do.
do...
262.02
630
33,390
27,227
22792
2211
464
2
27 018
331
bil.
mil.
do...
*208 89
3,466
853
Operating revenues (quarterly) §
Operating expenses (quarterly) §..
Net income after taxes (quarterly) §
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
mil. $.
do...
do...
21,652
21,523
222
bil.
mil.
do...
mil. $..
do....
do—
2
mil-
8
Urban Transit Systems
Passengers carried, total
Motor Carriers
Carriers of property, large, class I, qtrly.:
Number of reporting carriers
Operating revenues, total
mil. $..
Net income, after extraordinary and prior period
charges and credits
mil. $..
Tonnage hauled (revenue), common and contract
carrier service
mil. tons-
Operating expenses
,
do—
Net railway operating income
do....
Net income (after taxes)
do—
Traffic:
Ton-miles of freight (net), total, qtrly
bil..
Revenue ton-miles, qtrly. (AAR)
do—
Price index for railroad freight
1969—100
Travel
Hotels and motor-hotels:
Restaurant sales index.... same month 1967=100Hotels: Average room sale
fl
dollarsRooms occupied
,
% of total..
Motor-hotels: Average room sale JI
dollarsRooms occupied
% of totalForeign travel:
U.S. citizens: Arrivals
thous..
Departures
do—
Aliens: Arrivals
do....
Departures
do—
Passports issued
do....
National parks, visits @
do ...
COMMUNICATION
Telephone carriers:
Operating revenues #
Station revenues
•,
Tolls, message
Operating expenses (excluding taxes)
Net operating income (after taxes)
Phones in service, end of period
Telegraph carriers:
Domestic:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
Overseas, total:
Operating revenues
Operating expenses
Net operating revenues (before taxes)
See footnotes at end of tables.
2449
629
3050
26.39
663
3236
2
33,267
2
2
2427
2
2
2
19.61
559
2540
20.69
577
2629
17.86
552
2379
8926
7555
590
143
8657
203
22 791
621
33 462
-90
20009
3,274
944
20.22
578
2590
19.35
548
2437
17.00
542
2214
19.84
568
2,591
8367
7108
577
157
8536
-217
2026
584
2603
8388
6997
637
172
8372
122
14 84
1580
293
81
14 24
265
76
1634
248
108
6,740
6625
263
1575
245
84
1408
246
78
1649
286
86
6964
6993
-65
1642
278
85
477
203
29
425
216
33
362
215
37
388
170
43
1648
1746
140
360
145
28
2 92
162
28
3 36
204
31
1403
1543
152
3 84
184
31
748
663
681
647
644
726
690
281
75
2025
282
75
5409
2,458
392
2
6,891
2
7,079
2
-246
585
214
30
676
210
31
8130
8228
641
100
15,051
100
15,538
100
3,776
100
4273
100
4989
312
284
83
105
77
215
183
42
49
48
1864
26,376
26,383
2
156
2
2
53.13
2,498
372
5,575
5,505
109
Freight carried—volume indexes, class I and II
intercity truck tonnage (ATA):
Common and contract carriers of property
(qtrly.)...
average same period, 1967—100..
Common carriers of general freight,
seas, adj
. .1967—100
Class I Railroads $
Financial operations, qtrly. (AAR), excl. Amtrak:
Operating revenues, total #
mil. $..
Freight
do....
Passenger, excl. Amtrak
do—
254.18
590
32,487
2073
1958
84
656
155
681
r
!7 41
289
81
*15 57
r
1479
25,352
23,576
382
24,093
858
3
840
28,254
26,350
439
26,352
1,337
3
1,131
9287
902.1
243 4
933.1
919.0
2855
170
45.69
72
32.36
71
182
49.48
65
35.30
66
5
2
9,010
2
1360
141 4
1466
1530
152 7
151 9
7514
7022
118
6807
540
r
545
1508
153 2
r
r
!52 2
!51 7
2268
222.4
298 5
2990
299 Q
2394
'236.0
300 5
313 8
317 7
236 1
236.6
321 4
321 0
321 4
222.5
324 3
184
49.40
48
36.92
55
181
52.17
69
34.37
66
203
53.05
77
35.46
70
178
52.65
67
34.80
62
186
52.56
44
3494
51
158
56.71
62
3595
56
176
56.17
68
3761
64
198
58.11
74
3742
72
191
57.28
73
3814
71
946
1,042
883
1313
1,175
222
726
710
883
773
179
5 250
610
655
787
718
150
2875
564
758
910
707
158
2 167
681
700
871
752
233
2017
587
670
692
552
237
2092
735
735
819
618
338
2622
198
58
36.70
64
59081
303
10482
10661
1,035
1272
954
154 5
4
4
91.6
qqq c
200
56.29
73
3800
70
214
54.90
72
4015
73
692
792
975
755
335
3 556
760
863
993
785
317
5 237
789
988
1 036
789
363
323
7 892 P10 955
272
11 226
50,604
21967
22,389
33,110
9,084
155.1
56,738
24333
22,983
37,983
10,194
159.9
4,820
2022
1,996
3,167
889
158.0
4,831
2030
1,987
3,228
860
158.3
4,825
2059
1,959
3,305
827
158.8
5,014
2113
2059
3,270
950
159.4
4,848
2097
1,905
3,257
891
159.6
4,970
2 130
2006
3,397
887
159.9
5,135
2201
2071
3,346
975
1642
5,048
2 236
1931
3,352
913
1645
5,307
2 244
2 144
3,498
985
1647
5,275
2 272
2 102
3,577
888
1650
5,303
2288
2076
3,574
923
1648
5,503
2 330
2 199
3,620
1 019
1648
mil. $..
do—
do—
636.0
519.2
80.2
697.1
561.5
95.9
59.1
48.3
57.1
47.8
6.4
599
48.8
7.7
617
48.2
9.7
561
46.5
6.2
605
490
7.8
579
488
5.9
585
482
7.1
630
493
10.3
640
500
10.8
61 9
486
7.3
68 4
549
9.3
do—
do....
do—
491.1
326.2
142.7
7
534.2
7
374.4
7
45.4
31.2
12.3
42.1
30.1
10.1
44.7
301
12.8
47.3
323
12.8
42.4
31 1
9.2
46.2
396
5.1
45.2
332
9.8
45 1
322
10.8
500
340
13.7
480
352
10.7
466
36 0
8.5
495
36 3
11.1
137.4
P
qqq o
mil. $..
do—
do....
do....
do....
mil-
7.8
IIQ ig
7660
7 182
121
6960
469
636
291 1 ""'291 5
704
796
1000
858
200
6 195
9,971
11
252
2
9,285
3,020
2
1509
'l!7
6,623
222
156
48.19
16 47
142
147 4
6,995
6521
r
1
693
676
139
1803
9,259
9,681
9,886
7,814
3,170
56922
273
73
6,853
6700
105
21.82
610
2,776
69.1
S-22
SURVEY OF CURRENT BUSINESS
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1980
Annual
September 1981
July
Aug.
Sept.
1981
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) $
thous. sh. tons..
Chlorine gas (100% C12) $
..
.do
Hydrochloric acid (100% HC1) $
do....
Phosphorus elemental $
do
Sodium hydroxide (100% NaOH) $
do
Sodium silicate anhydrous $
.. do
Sodium sulfate, anhydrous $
do....
Sodium tripolyphosphate (100% Na5P3O10) t
do....
Titanium dioxide (composite and pure) $
do....
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons..
Stocks (producers') end of period....
do....
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
thous. sh. tons-
1,182
11,198
2,812
440
11,324
740
1,258
108
813
197
32
843
46
104
105
824
219
33
840
66
106
97
903
240
28
907
66
101
102
938
233
43
972
56
109
85
949
222
39
966
53
100
103
1,011
250
40
1,031
55
103
92
886
241
36
924
51
92
91
904
209
, 34
910
58
115
94
932
217
38
952
69
98
102
960
210
38
965
70
98
r
99
r
947
r
210
39
962
55
r
99
96
932
220
36
937
73
98
758
741
719
713
56
53
58
57
58
53
61
48
60
56
53
59
55
58
57
60
60
63
61
68
59
70
67
68
10,263
4,172
10,201
3,042
863
3,570
834
3,503
802
3,405
842
3,306
843
3,269
888
3,042
890
3,018
818
2,989
869
2,918
838
2,876
878
2,859
18,523
7,543
2,363
8,465
2,245
10,317
43,204
19,028
8,590
4
1,469
8,931
3,031
10,808
44,272
1,528
568
172
592
250
801
3,501
1,634
624
161
647
254
914
3,571
1,475
632
168
672
232
909
3,605
1,474
698
191
726
208
901
3,641
1,550
750
(2)
780
242
916
3,826
1,730
821
(2)
861
269
983
4,029
1,663
837
1,530
736
(2)
764
235
873
3,480
1,733
839
217
875
284
941
3,829
1,698
778
219
804
279
961
3,808
1,632
r
741
188
r
760
r8
263
r
927
r
3,656
1,591
652
181
709
8
235
918
3,597
7,662
366
7,640
3
28,043
3
3,176
17,919
1,576
8,086
372
6,950
42,389
5,752
27,661
2,496
648
460
563
3,013
402
1,471
221
693
483
657
3,125
534
1,657
156
669
515
456
2,580
319
1,560
178
666
431
674
2,487
343
1,595
83
676
481
663
1,853
224
1,130
133
728
372
810
2,486
337
1,408
101
7
1,673
7
1,113
371
2,261
309
1,362
109
1,568
1,348
556
1,803
258
1,125
75
1,736
1,424
651
1,864
226
1,225
94
1,705
1,383
687
1,859
245
1,184
114
r
l,639
r
l,350
441
2,015
259
1,175
97
1,512
1,452
514
1,949
227
1,076
110
513
2,184
333
1,143
116
277
245
9,275
116
247
289
8,907
158
10
11
762
0
27
14
638
11
12
12
751
0
19
16
836
13
13
26
901
6
17
18
952
10
20
42
681
0
18
13
681
13
31
46
876
25
45
28
806
35
19
46
598
16
16
10
651
12
14
16
623
10
5,741
5,633
382
429
483
506
405
504
509
438
451
419
r
404
389
3,124
99,271
427,151
456,636
3,544
95,883
473,322
414,615
325
6,845
37,418
28,163
334
6,678
35,649
31,637
326
7,857
40,552
32,186
298
7,740
43,459
35,529
298
8,632
43,483
35,966
292
9,119
41,900
37,095
304
7,879
40,146
35,675
278
8,623
38,322
32,983
316
7,805
41,248
37,153
334
7,824
40,052
36281
r
321
7,994
r
41,797
r
37,964
344
7,722
40,409
35,675
3.2
10.4
27.2
576.5
27.1
114.5
84.7
1.9
11.0
22.2
537.0
25.7
100.5
87.1
1.6
10.8
20.6
504.2
r
27.0
108.2
81.4
1
Ammonium sulfate $
do....
Nitric acid (100% HNO3) $
do
Nitrogen-solutions (100% N) $
do....
Phosphoric acid (100% P2O5) $
,
do....
Sulfuric acid (100% H2SO4) $
do....
Superphosphate and other phosphatic fertilizers
(100% P2O5):
Stocks end of period
do
Potash deliveries (K2O) JI
.... do....
Exports total #
do....
Nitrogenous materials
do
Phosphate materials
. . do. .
Potash materials
.
do....
Imports:
Ammonium nitrate
do
Ammonium sulfate
. .
.. do..
Potassium chloride
do....
Sodium nitrate
. . do
Industrial Gases
Production:
Acetylene
mil cu ft
Carbon dioxide, liquid, gas, and solid
thous. sh. tonsNitrogen (high and low purity)
1,314
12228
3,090
460
12,772
770
1,115
5
do....
(
*>832
257
869
3,704
r
'875
2,824
r
915
2,930
Organic Chemicals §
Production:
Creosote oil
Ethyl acetate (85%)... „
Formaldehyde (37% HCHO)
Glycerin refined all grades
Methanol, synthetic
,
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production.
Denatured alcohol:
Production
262.4
'5,971.1
297.8
l
l,109.5
'1,012.9
'33.7
152.5
'242.5
1
5,692.8
314.8
1
1,063.8
'856.9
2.7
11.7
15.7
355.8
31.3
92.7
43.2
2.5
11.3
17.0
416.0
20.6
80.5
51.0
2.8
14.8
19.8
483.2
26.4
81.3
67.5
3.2
12.3
20.1
524.2
25.3
69.5
73.5
2.7
11.7
22.2
498.6
24.3
84.1
73.7
2.8
14.0
22.0
519.0
22.3
106.1
79.2
3.0
10.4
21.8
452.8
25.9
109.7
68.6
2.6
10.2
20.S
506.8
20.7
99.7
53.0
3.4
10.5
23.1
531.9
25.3
97.1
96.0
mil. tax gal..
570.3
53.6
641.4
72.0
52.8
72.7
46.4
70.4
57.2
67.1
64.3
57.5
47.7
62.3
53.7
72.0
49.2
78.3
44.3
64.8
49.3
73.6
260.7
260.9
4.1
r
286.4
r
279.8
10.7
22.7
22.6
16.6
21.3
23.1
19.9
22.6
23.2
10.2
21.5
21.4
4.8
16.4
16.4
7.8
21.9
17.9
10.7
23.1
25.6
7.0
18.7
18.2
8.2
17.4
17.7
6.6
6,326.9
'6,211.4
'1,427.3
11,459.3
3»383.3
>5,448.0
'5,497.0
95.5
761.1
213.9
433.7
349.4
109.8
805.0
241.6
397.9
393.3
120.9
906.8
253.3
454.3
458.9
131.9
967.3
259.3
495.8
515.6
126.4
972.4
282.2
464.2
513.0
112.5
1,021.1
286.1
498.2
498.8
156.5
1,070.7
350.2
449.6
444.6
2,987.1
'3,000.4
6
7,024.8
6
3,418.7
6
2,284.0
6
7,635.9
3,641.2
2,418.5
1,576.2
682.9
367.3
169.5
146.0
689.3
341.0
199.7
148.6
706.1
314.8
233.5
157.9
546.4
222.9
202.3
121.2
mil wine gal
9t k
t] f
' A
do
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil. lb..
Polyethylene and copolymers
do..,.
Polypropylene
... do..
Polystyrene and copolymers
do....
Polyvinyl chloride and copolymers
do....
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
mil. lb..
Paints, varnish, and lacquer, shipments:
Total shipments @
mil $
Architectural coatings
do....
Product finishes (OEM)
do
Special purpose coatings
do....
See footnotes at end of tables.
1
31.9
1
161.6
1
mil gal
mil. lb..
do....
do
mil. gal..
mil. lb..
1
1
1,778.6
12,408.4
1
3,823.9
1
1,322.0
1
r
520.3
217.4
193.3
109.7
555.1
235.2
208.8
111.1
593.2
259.2
213.8
120.2
728.1
339.5
249.5
139.1
151.8
192.5
1,001.2 1,005.5
347.3
346.6
468.3
498.9
552.2
517.4
599.7
741.2
788.6
704.0
698.2
329.5
221.7
147.0
238.5
225.6
237:0
173.8
942.2 1,116.6 1,063.3 1,058.4
335.6
357.4
318.6
332.4
501.0
583.9
490.2
448.5
551.0
552.5
476.5
554.3
774.5
374.6
248.3
151.6
r
770.8
'385.4
r
240.4
r
!45.0
1.8
8.7
24.2
461.2
24.9
112.5
60.6
858.8
431.6
260.6
166.7
P
827
S-23
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1981
1980
1980
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
•n f -i
'
"' '
j
k
By waterpower
do
Sales to ultimate customers, total (Edison Electric
Commercial and industrial:
Small light and power §
Large light and power §
do
do
2 246 934 rr2 285 509 216 051 215 435 191 483 178541 178 552 195 589 205 192 179 624 185,435 172,369 177,656 202,694
l'966'802 2r 009 609 191 750 194 959 172 991 160 675 159 335 173 298 182,836 158,490 164,863 151,646 153,574 176,325
'280'l31 275 899 24 302 20476 18,491 17,866 19,217 22,290 22,355 21,134 20,572 20,723 24,081 26,370
2 079 221 2 095 333 182 194 192 936 188 204 171 198 165 276 174 903 187 047 180,663 172,296 164,971 162,656 174,208
493 494
815 586
4 245
694 266
14755
49481
7394
509 547
791*241
4 292
720?784
14566
48426
6477
46 461 48872 47405
63 715 65597 67583
348
356
349
65866 72190
1 121 1 163 1203
4138
4 185
4249
545
573
550
42476
66978
356
55528
1266
4031
564
40363
65,657
351
53194
1307
3,835
568
41871
66,324
381
60270
1353
4,147
557
43 944
65,189
379
71063
1418
4,466
589
42615
65,632
365
65789
1,345
4,340
578
41 114
66,251
367
58402
1,317
4,242
602
39710
66,000
339
53024
1 152
4,175
571
40,392
66,040
331
49,978
1,206
4,125
584
44,501
67,497
335
55,789
1 172
4,332
581
1672
1501
15.12
1768
1547
1526
18.87
1700
15.78
1863
1729
15.24
37.03
34.42
903
1021
767
856
Residential or domestic
do
Street and highway lighting
do
Other public authorities
do .
Interdepartmental
do
Revenue from sales to ultimate customers (Edison
Electric Institute)
mil. $ . 77,691.5 91 618 7 8 392.0 9 029.8 8 745.4 7 831.2 7,448.8 7,910.2 8,586.6 8,324.3 8,061.0 7,653.8 7,987.2 8,948.2
GAS
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total
thous .
46 708
47424
46886
47424
43027
Residential
do .
42238
43697
43 697
Commercial
do....
3,446
3,493
3,414
3,493
189
Industrial
....
do .
189
189
189
Other
do....
45
45
44
45
Sales to customers, total
tril. Btu..
15,440
2610
15,331
3980
Residential
do....
5,083
4,870
401
1,298
Commercial
do
2486
2398
271
658
Industrial
do....
7,555
7,782
1,894
1,941
Other
..
.
do
316
280
44
83
Revenue from sales to customers total
mil $
38947
47 231
8289
13 101
Residential
. . do
14833
17 188
1748
4874
Commercial
do....
6,624
970
7,914
2308
Industrial .
do
16961
21551
5482
5730
Other
do...
530
578
90
'l90
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
Production
mil. bbl..
Taxable withdrawals
do
Stocks, end of period
do....
Distilled spirits (total):
Production
mil tax gal
Consumption, apparent, for beverage purposes
mil. wine galStocks end of period
mil. tax gal.
Imports
mil proof gal
Whisky:
Production
mil tax gal
Stocks, end of period
do....
Imports.
.
mil proof gal
Wines and distilling materials:
Effervescent wines:
Production .
mil wine gal
Taxable withdrawals
do....
Stocks end of period
do
Imports...
do...
Still wines:
Production
do
Taxable withdrawals
do .
Stocks end of period ..
do
Imports
do...
Distilling materials produced at wineries
do
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
mil Ib
Stocks, cold storage, end of period
do....
Price, wholesale, 92 score (N.Y.)
$ per Ib..
Cheese:
Production (factory) total @
mil. Ib..
American whole milk @
do
Stocks, cold storage, end of period
do....
American whole milk
do
Imports
do...
Price, wholesale, American, single daisies
(Chicago)
$ per Ib
See footnotes at end of tables.
184.19
168.12
13.29
191.87
171 81
13.96
18.72
1708
14.72
17.02
15 35
14.45
16.29
1451
15.01
1495
1353
14il8
13.02
1251
13.94
1332
1238
13.96
1331
1208
13.98
14.58
1241
14.95
14053
472
714
897
14 17
1270
1496
1442
1430
1668
449.93
57802
11371
36.35
63972
982
34.48
633.44
783
34.68
62589
1135
38.25
61726
1466
42.53
62684
1157
54.40
57802
955
32.97
61558
884
30.88
625.77
872
35.68
•571 04
1004
101.26
581.16
9540
8431
512.02
8600
272
576.77
743
445
572.26
580
510
565.61
904
675
559.61
1135
615
556.03
909
758
512.02
706
738
553.51
651
813
553.47
506
1242
497.91
764
688
756
530
652
23.48
22.40
1003
4.53
2619
25.22
926
483
198
1.51
1057
032
265
2.07
983
0.35
192
1.75
1225
044
361
4.07
1168
050
242
3.52
1055
0.66
311
2.94
926
0.66
187
1.27
1090
085
242
1.03
1186
0.35
285
1.63
1320
0.38
242
1.73
1397
0.55
0.64
0.45
055
50404
346 96
61029
97.68
204 38
6 17
2692
364 05
8.99
182
20 23
2726
341 12
8.06
1022
164 44
2316
48538
9.14
37 10
201 68
3827
64349
8.76
9062
57 56
2914
627 03
9.23
3148
23 47
3048
61029
9.03
10 29
786
3034
55662
8.91
551
504
2514
54825
7.52
352
587
3231
526 79
7.44
281
5 43
2913
49401
7.70
294
9.34
7.97
858
9846
177.8
1.272
1 1453
304.6
1.448
83.7
308.0
1.433
75.3
306.4
1.515
77.0
302.9
1.517
914
301.5
1.526
84.7
302.7
1.536
103 6
304.6
1.539
1213
332.1
1.534
110.1
372.3
1.537
116.7
407.4
1.535
1169
450.4
1162
473.6
966
507.5
84 1
515.5
3,717.2
21899
512.1
4065
248.3
3,983.1
2 374 6
578.8
4796
231.2
332.7
2083
620.0
507.7
17.6
317.6
1929
613.8
501.2
17.5
317.0
1798
610.6
498.2
24.9
332.1
1866
590.9
484.4
29.3
317.2
1767
565.4
462.3
30.9
354.4
2048
578.8
479.6
44.4
342.8
2122
601.7
504 7
10.3
316.5
1981
596.3
5086
11.6
365.4
2245
591.1
5014
15.3
3712
2375
631.9
5394
19.5
386.9
2535
649.8
555.6
13.7
385.9
2436
5850
16.8
347 1
2179
714.2
6157
18.6
1.414
1.562
1555
1.570
1.615
1.653
1.641
1641
1640
1.640
1.669
1670
1.678
1.679
1678
186.68
'447.52
645.67
12365
434 01
328.48
55843
87.63
25436
2
r
r
r
685.7
r
515.7
715.7
6134
1 678
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS—Continued
Condensed and evaporated milk:
Production case goods @
. mil Ib
Stocks, manufacturers', case goods, end of month
or year
mil Ib
Exports
.
.. do
Fluid milk:
Production on farms
do
Utilization in mfd dairy products @
do
Price, wholesale, U.S. average
$ per 100 Ib..
Dry milk:
Production:
Dry whole milk @
. mil Ib.
Nonfat dry milk (human food)@
do....
Stocks, manufacturers', end of period:
Dry whole milk
•• . do...
Nonfat dry milk (human food) @
do....
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food) @
$ per Ib
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
mil. bu..
Barley:
Production (crop estimate)
fl
do....
OCKS ^
''
"
796.1
724.7
65.4
57.3
55.9
51.5
50.3
60.7
55.7
54.7
60.4
65.0
65.2
69.2
67.8
76.7
42.3
51.8
43.4
127.8
2.1
131.7
3.1
119.6
4.2
93.4
4.0
75.6
3.6
51.8
5.0
. 41.7
2.8
36.9
3.4
39.5
2.9
53.0
2.1
66.3
2.8
77.0
3.2
81.6
2.7
123,411
66,041
12.00
128,425
71,689
13.00
11,036
6,196
12.60
10,782
5,752
12.80
10,364
5,522
13.20
10,455
5,731
13.70
10,076
5,235
14.00
10,491
5,997
14.10
10,739
6,212
14.10
10,093
5,903
14.00
11,426
6,718
13.80
11,544
6,863
13.60
12,064
7,052
13.50
11,628
6,830
13.40
85.3
908.7
82.7
1,160.7
7.2
122.1
6.3
104.0
6.4
77.3
8.0
72.8
7.4
69.1
6.9
89.6
6.8
92.0
6.0
95.3
6.8
110.0
8.0
122.9
8.5
135.3
6.4
132.6
7.0
120.0
4.3
92.6
73.3
5.3
85.0
176.2
6.5
118.7
5.3
4.5
109.5
10.6
3.0
76.2
28.1
3.4
75.3
26.5
5.0
69.5
14.7
5.3
85.0
17.5
6.6
80.6
16.9
4.8
92.8
7.2
3.9
96.9
11.4
4.0
102.0
14.6
4.0
116.5
24.2
3.6
l!6.3
31.4
3.3
99.1
26.3
0.800
0.887
0.889
0.892
0.897
0.922
0.936
0.939
0.938
0.936
0.937
0.939
0.939
0.939
0.938
3,640.3
3,914.4
327.6
363.2
350.5
368.1
366.4
382.9
348.0
341.8
361.9
326.1
289.8
289.9
295.7
9.3
3908
248 0
142.7
6.7
6.8
301.9
184 1
117.8
9.1
11.5
202.1
112.2
90.0
4.8
199.8
3,997.4
2,651.7
1,845.6
222.2
1.5
255.8
211.4
44.4
0.8
2
Off farms
do
Prices, wholesale (Minneapolis):
No 3 straight
do
Corn:
Production (crop estimate, grain only) ff .. mil. bu..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do....
Exports, including meal and flour
do....
Price, wholesale:
Weighted avg., selected markets, all grades
$' per bu..
Oats:
St
t (r\
t 1
H f
d t t 1
Ho
On farms
Off farms
do
do
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
Rice:
California mills:
Receipts domestic rough
mil Ib
Shipments from mills, milled rice
do...
Stocks, rough and cleaned (cleaned basis), end
Southern States mills (Ark., La., Tenn., Tex.):
Shipments from mills, milled rice
do....
Stocks, domestic, rough and cleaned (cleaned
Exports
•
do...
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per Ib.
Rye:
St- 1^ (A
t 1
d f n 'od
Price, wholesale. No. 2 (Minneapolis)
Wheat:
Q •
W' I
h
h
f f|
t 1
Distribution, quarterly @ @
Stocks (domestic) end of period total
On farms
Off farms
7,938.8
6,886.2
5,041.7
1,844.5
2,333.5
526 6
476.8
400.8
76.0
4.8
131.9
5.6
6.4
3.5
136.7
4
73.6
4
63.0
0.1
1.5
6.7
(8)
7
2
6,647.5
5,857.4
4,140.1
1,717.3
2,485.3
5
197.1
1,617.5
5
920.9
5
696.6
202.6
206.2
240.9
5,857.4
4,140.1
1,717.3
238.6
245.0
1.7
390.5
328.9
61.7
0.9
208.3
7,940.4
3
2,774.0
3
1,818.3
3
185.3
955.7
207.6
157.7
147.2
(6)
2457 e
390.5
328.9
61.7
9.1
1.0
1.3
484 1
394.8
893
1.0
0.5
0.7
509.5
4
176.5
4
148.7
4
2.5
27.8
1.9
0.6
1.4
(6)
1.57
2
3.7
?476.0
4
(6)
2.42
2
7
2
178.6
145.1
2,721
1,800
3,582
2,711
288
285
237
113
195
258
476
132
368
238
342
339
354
216
253
271
333
268
351
303
317
346
218
186
168
67
249
231
100
162
49
255
301
231
283
224
226
203
120
107
174
142
492
85
499
182
389
1,456
1,008
497
" 794
772
371
9,247
6,019
10,831
6,795
218
412
829
498
2,439
568
2,170
687
1,077
583
1,358
761
436
590
830
635
749
852
274
660
2,503
4,978
2,969
6,620
866
644
912
419
1,938
577
2,664
409
2,813
474
2,969
730
2,686
533
2,604
613
2,342
809
1,853
688
0.173
0.225
0.210
0.205
0.205
0.210
0.245
0.265
0.270
0.270
0.275
0.275
2
2
224
17.7
2.51
2
Wheat only
do...
Prices, wholesale:
No. 1, dark northern spring (Minneapolis)
$ per bu.
No. 2 hd. and dk. hd. winter (Kans. City) .. do...
Weighted avg., selected markets, all grades
$ oer bu.
See footnotes at end of tables.
2
$ per bu.
do...
do...
do...
do
358.5
301.9
184.1
117.8
68.9
2.67
2.61
do
H
do
2
382.8
365.6
246.4
119.2
34.5
j
r
11,320
6,456
13.40 ""n'3,50
2,134
2
533
1,601
2,051
1,716.2
773.9
942.2
1,265.1
1,222.5
2
0.280
0.280
0.280
0.265
7
16 3
9.3
17.1
M.l
6.8
93
184
(6)
2
7
2
7
2,370
2
478
1,891
2,185
1,903.8
754.1
1,149.7
1,344.5
1,309.5
125.7
123.6
4.08
4.03
(66)
()
3.73
(6)
^00
2,471.9
975.3
1,496.6
139.3
144.6
136.0
139.6
118.6
116.2
113.4
112.2
569
1,903.8
754.1
1,149.7
133.4
131.9
132.2
129.9
128.8
124.4
575
1,329.2
539.4
789.8
134.0
128.8
2,750
7
691
2,059
'339
4
990.8
4
413.8
4
134.5
127.7
577.1
80.0
76.0
130.0
124.5
140.4
138.1
S-25
SURVEY OF CURRENT BUSINESS
September 1981
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
1981
1980
July
Annual
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
23421 r23 521
420
'416
52,184 '52,643
23,414
413
51,417
June
July
Aug.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat flour:
Production:
Flour $
thous. sacks (100 Ib.)
Millfeed $
thous sh tons
Grindings of wheat $
thous. bu
Stocks held by mills, end of period
thous. sacks (100 Ib.)
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 Ib
Winter, hard, 95% patent (Kans. City)
do..
POULTRY AND EGGS
Poultry:
Slaughter (commercial production)
mil. Ib
Stocks, cold storage (frozen), end of period, total
mil. Ib.
Turkeys
do
Price, in Georgia producing area, live broilers
$ per Ib.
Eggs:
Production on farms @
mil. cases §.
Stocks, cold storage, end of period:
Shell
. thous cases §
Frozen
mil Ib
Price, wholesale, large (delivered; Chicago)
$ per doz.
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals.
Cattle
do
Prices, wholesale:
Beef steers (Omaha)
$ per 100 Ib
Steers, stocker and feeder (Kansas City) .... do...
Calves, vealers (So. St. Paul)
do...
Hogs:
Slaughter (federally inspected)
thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 Ib..
Hog-corn price ratio (bu. of corn equal in value
to 100 Ib. live hog)
Sheep and lambs:
Slaughter (federally inspected)
thous. animalsPrice, wholesale, lambs, average (Omaha)
$ per 100 Ib..
MEATS
Total meats (excluding lard):
Production total ....
.
mil Ib
Stocks, cold storage, end of period
do
Exports (meat and meat preparations)
do....
Imports (meat and meat preparations)
do....
Beef and veal:
Production, total
do....
Stocks, cold storage, end of period
do....
Exports
do....
Imports
.
do
Price, wholesale, beef, fresh, steer carcasses,
choice (600-700 Ibs.) (Central U.S.)
$ per Ib..
Lamb and mutton:
Production, total
....mil. Ib..
Stocks, cold storage, end of period . .
do
Pork (excluding lard):
Production total . .
mil Ib
Stocks, cold storage, end of period
do....
Expo,rts
do
Imports
do
Prices, wholesale:
Hams, smoked #
Index, 1967—100..
Fresh loins, 8-14 Ib. average (N.Y.)
$ per Ib..
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tonsPrice, wholesale, Accra (New York)
$ per Ib..
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
thous. bags fl..
Roastings (green weight)
do....
Imports, total
.
do
From Brazil
do....
Price, wholesale, Santos, No. 4 (N.Y.)
$ per Ib..
Confectionery, manufacturers' sales
mil. $..
Fish:
Stocks, cold storage, end of period
mil. Ib..
See footnotes at end of tables.
3 5 4 - 6 8 0 0 - 81 - S2
284 051
4,945
636,375
282,655
4,866
628,599
23,137
410
51,760
24,025
424
52,980
24813
430
54,762
26,285
453
58,392
24,420
392
54,582
25,232
415
56,920
25860
42
57,513
22,787
399
51,084
24,959
435
55,310
23,967
424
53,402
3,975
18,291
3,842
15,014
894
2,137
3,716
1,396
1,034
522
3,842
609
980
1,896
3897
224
2^932
1,724
3895
2,350
987
11.050
10.663
11.113
10.400
10.975
10.275
11.100
10.525
11.075
10.313
11.125
10.525
10.813
10.275
(
1
9.508
9.268
10.566
'10.116
11.025
10.000
10.963
10.113
10.975
10.475
11.113
10.600
11.138
10.675
13,820
14,048
1211
1,170
1,215
1,319
1,070
1,150
1171
1,027
1,203
1,236
1,258
1,320
1,336
387
240
339
198
495
326
548
384
556
399
579
420
403
258
339
198
359
208
354
208
373
221
394
229
420
256
'506
'327
596
401
660
470
0.260
0.270
0.310
0.320
0.325
0.305
0.285
0.295
0.285
0.290
0.285
0.255
0.260
0.265
0.290
0.280
192.3
193.6
15.9
16.0
15.9
16.5
16.1
16.8
16.6
15.0
16.6
15.9
16.2
15.5
38
23
31
24
39
29
28
31
39
30
15
29
19
25
31
24
22
25
19
24
32
22
32
22
25
23
41
'24
41
27
0.662
0.628
0.632
0.659
0.688
0.643
0.757
0.773
0.714
0.672
0.629
0.697
0.622
0.629
0.675
2,499
31,504
2,294
31,642
186
2,667
182
2,684
, 198
2,739
228
3,002
185
2,507
214
2,725
215
2 803
190
2,483
213
2,726
190
2,625
158
2,593
175
2,769
203
2,760
67.75
77.60
91.41
66.96
71.30
75.53
70.47
69.48
73.00
72.31
71.92
79.12
69.68
71.53
85.00
67.18
71.64
83.40
65.05
70.23
76.47
64.29
70.04
77.17
63.08
68.56
77.38
61.50
68.41
78.00
61.40
65.47
80.88
64.92
66.28
83.90
66.86
63.10
84.25
68.26
63.51
82.38
67.86
61.51
76.00
85,425
91,882
6,910
6,745
7,601
8,404
7,362
7,788
7,768
6,873
7,988
7,993
7,004
6,682
6,539
42.13
39.48
41.78
48.49
47.42
48.36
46.44
45.07
41.67
42.78
39.88
40.15
41.96
48.78.
51.01
51.14
18.3
14.4
15.1
15.8
15.3
15.8
14.7
13.8
12.8
12.8
11.9
12.0
12.6
15.0
'15.7
17.5
4,833
5,363
420
427
466
510
415
468
488
426
488
512
425
440
439
66.58
62.46
67.50
68.25
65.75
62.00
55.67
53.75
46.50
54.50
55.25
59.25
65.00
66.25
59.00
53.75
37,225
706
1,378
2,178
38,590
750
1,663
2,052
3,070
578
145
208
3,016
514
129
170
3,221
510
136
133
3,577
584
165
209
3,097
679
144
167
3,349
750
154
191
3,416
792
143
171
3,011
783
141
167
3,383
776
169
131
3,296
817
248
155
3,069
795
189
140
3,113
'717
180
153
3,038
628
128
162
535
21,671
361
366
1,712
21,849
338
425
1,531
1,815
250
38
158
1,804
235
40
125
1,860
226
35
95
2,064
250
39
163
1,733
286
27
122
1,892
338
33
143
1,971
371
34
128
1,751
356
38
128
1,931
351
54
87
1,843
349
140
110
1,791
338
34
95
1,888
306
46
108
1,852
280
30
116
250
1.011
1.044
1.101
1.120
1.080
1.055
1.014
1.006
0.998
0.961
0.943
0.997
1.033
1.065
1.072
1.039
284
11
310
9
23
10
23
9
26
8
29
8
24
10
28
9
30
9
26
8
29
8
29
10
24
10
24
12
24
13
14
15,270
281
330
361
16,431
349
314
433
1,232
264
28
44
1,189
217
19
39
1,335
222
18
31
1,485
269
28
40
1,339
321
29
37
1,428
349
28
39
1,416
351
27
37
1,234
356
32
33
1,423
361
37
37
1,424
404
31
36
1,254
394
39
37
1,201
'347
34
39
1,162
283 """223
19
39
3
254.8
1.011
234.1
1.032
266.9
1.116
274.8
1.114
286.1
1.136
294.2
1.100
288.8
1.094
249.4
1.156
246.9
1.146
245.9
1.105
252.4
1.035
243.0
1.124
253.4
1.191
278.9
1.261
165.2
1.604
148.5
1.354
16.9
1.345
9.6
1.200
8.2
1.220
9.6
1.190
9.4
1.200
19.9
1.080
13.5
1.095
27.8
1.100
19.2
1.120
30.4
1.150
27.1
1.040
24.1
0.890
19.3
1.085 "Ti'20
2,521
17,005
19,396
1,890
1.763
'4,281
2,834
17,047
18,153
3,505
2.066
r
4,649
1,533
419
1.950
r
278
1,386
336
2.060
r
375
2,956
3,859
1,062
208
2.060
'498
1,292
346
2.100
r
505
1,486
352
2.100
r
430
2,834
4,868
1,715
341
2.080
r
403
1,858
473
2.180
421
1,738
259
2.180
461
2,849
4742
1,395
364
2.180
463
1,299
138
2.180
398
1,356
283
1.290
321
2,590
3,962
1,026
166
1.155
335
471
393
359
380
379
391
408
393
388
344
330
295
294
'331
252.6
1.076
2
1
10.750
10.300
15.9
21
27
66.37
64.15
77.25
282.2
1.212
922
213
1.155 ""l.270
'356
"369
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
Production
thous sh tons
4,713
70
60
96
592
928
1,127
758
487
232
153
201
138
do ..
do....
do....
3
10,838
10,149
2,970
968
907
r
2,183
975
900
1,866
955
906
1,548
899
831
1,679
744
704
2,345
998
815
2,970
754
697
3,330
743
675
3,472
1,004
836
3,195
878
785
2,807
943
815
2,755
1,031
914
'2,285
..sh. tons-
14,924
608,029
45,114
87,919
40,495
4,127
397
349
314
20,650 123,950
510
272
26,370
4,810
81,229
310
55,765 134,737
313
289
80,412
255
0.427
0.560
14,271
0.409
0.550
0.291
0.403
0.303
0.432
0.266
0.383
0.231
0.344
12,126
15,936
12,891
18,354
Deliveries, total
For domestic consumption
Stocks, raw and ref., end of period
Exports, raw and refined
Imports raw and refined
.. thous sh tons
Prices, wholesale (New York):
Raw
Refined (excl excise tax)
Tallow and grease (except wool), inedible:
Production (quantities rendered)
Consumption in end products
Stocks, end of period
fl
,
Vegetable oils and related products:
Coconut oil:
fi
fl
0.163
0.266
0.191
0.295
0.198
0.285
14,696
18,990
17,736
14,586
325.2
122.0
354.5
118.9
347.3
126.8
345.9
129.0
'356.8
117.4
339.6
114.8
404.1
137.9
409.5
131.6
474.5
127.6
438.2
129.2
459.3
137.9
'473.9
'117.0
459.6
112.2
264.6
74.2
235.5
62.2
214.4
68.3
231.6
76.8
196.3
66.1
182.1
74.2
'214.3
'87.0
180.6
79.8
0.624
0.624
0.637
0.637
0.637
0.637
0.637
0.637
0.637
99.6
65.4
47.0
87.8
57.3
50.8
96.0
62.9
55.9
97.1
62.4
68.1
87.4
64.0
53.8
100.4
69.9
51.1
91.2
66.9
47.5
90.5
63.1
39.8
'93.7
'64.5
40.6
89.9
66.9
36.9
'500.3
'240.3
430.5
'558.1
'264.7
439.5
'491.7
'230.1
412.1
'541.8
'233.5
413.0
'533.3
'254.5
436.0
'480.6
'241.0
436.9
'517.5
'253.1
443.6
'514.3
'256.3
449.2
'479.3
'261.9
437.5
'498.7
'249.1
'431.9
504.0
254.8
417.6
52.4
51.0
57.2
62.5
71.6
66.9
63.0
63.1
62.5
58.3
65.5
67.7
66.0
65.0
61.8
71.1
53.5
68.3
63.7
64.0
58.1
'70.4
59.8
60.3
32.7
58.7
47.6
67.7
35.0
56.5
36.5
126.7
36.6
90.9
49.6
116.0
47.4
110.1
50.6
139.2
44.7
79.1
33.9
39.8
39.4
90.5
••38.0
81.2
39.5
107.8
810.6
638.2
66.2
45.2
69.9
51.2
76.2
56.3
80.6
63.9
68.0
64.3
59.0
59.7
65.8
61.9
63.6
65.6
76.2
61.2
69.6
59.7
74.3
64.4
'76.1
'63.2
76.2
57.7
555.0
65.2
595.3
76.3
44.5
71.6
44.7
62.3
52.8
65.8
52.8
72.1
52.3
79.3
61.5
76.3
56.9
72.4
52.1
80.3
56.6
77.0
43.3
82.0
50.3
71.4
'52.5
'72.6
48.0
68.2
1,260.5
1,140.8
618.2
144.3
1,447.1
1,370.2
698.3
170.1
785.4
0.261
104.2
115.1
104.9
107.5
93.1
94.8
116.4
94.1
130.5
119.8
122.3
125.1
131.7
131.3
118.9
99.6
115.4
102.1
100.8
113.0
88.7
82.9
'77.4
79.1
69.6
73.7
57.9
144.6
65.5
139.8
55.6
121.9
57.5
122.6
51.8
152.9
49.5
170.1
38.0
183.6
44.5
200.1
44.2
165.9
50.6
160.2
48.0
'121.7
38.8
110.3
70.3
0.263
77.6
0.273
89.3
0.263
53.7
0.248
66.6
0.330
47.1
0.338
77.0
0.334
29.3
0.320
47.1
202.4
66.7
0.335
82.1
0.354
72.2
0.350
85.7
0.365
46.9
0.380
0.355
927.8
720.3
913.8
760.7
1,080.2
784.1
737.1
719.1
1,210.1 1,373.9
171.2
112.5
0.320
0.302
1,077.6
760.5
682.fr
1,677.3
84.7
0.309
1,024.3
763.1
738.8
1,737.8
120.5
0.286
1,010.6
741.6
698.7
1,900.1
116.0
0.282
914.9
'830.7
814.7
887.8
991.3
954.2
754.9 '812.9
766.1
706.3
833.9
741.2
728.7 '774.1
742.3
680.8
722.3
775.1
1,976.3 2;016.7 2,118.5 2,166.3 '2,138.6 2,022.4
109.6
93.1
108.8
113.8
202.8
76.1
0.265
0.292
0.281
0.268
0.265
0.285
0.266
0.277
0.393
0.351
0.442
184,786
14,099
11,883
0.372
0.413
11,870
4,206.4
131.9
4,177.8
130.7
329.8
111.7
348.1
114.5
347.0
125.5
379.6
102.8
348.9
111.9
367.6
130.7
331.4
125.2
5,075.6
141.2
5,167.2
122.5
409.6
135.6
481.1
157.9
452.8
137.5
414.5
131.8
394.4
142.7
411.2
122.5
2,553.2
80.5
2,592.8
74.2
192.1
78.3
186.9
60.7
213.2
66.1
221.9
80.0
218.4
71.4
0.549
0.603
0.599
0.637
0.637
0.624
904.8
765.7
56.6
1,042.7
714.9
55.9
88.3
59.0
53.8
87.9
51.1
52.2
91.9
61.7
46.0
do....
do
do....
5,836.3
'3,083.4
390.4
'6,284.0
'2,922.2
413.0
514.6
'226.6
455.7
'472.7
'229.5
402.8
do....
595.6
748.4
644.7
693.5
46.4
56.2
do....
do
40.1
979.8
49.6
889.3
do ..
do
do
do....
743.5
589.4
$ per lb..
633.0
0.369
11,504.1
9,110.1
8,656.4
1,030.1
Stocks, crude and ref., end of period f[
do....
Exports (crude and refined)
do.... 2,370.6
0.327
Price, wholesale (refined; N.Y.)
$ per lb..
TOBACCO
Production* Refined
do
Leaf:
2
1,527
Stocks, dealers' and manufacturers',
F
t
1
H t
Imports, incl. scrap and stems
See footnotes at end of tables.
r
12,097.2
8,982.2
8,585.2
1,737.8
2,314.6
0.289
754.5
671.2
1,305.1 1,263.0
175.7
109.7
0.318
0.319
0.185
0.295
0.637
4
1,783
lh
do...
4,850
591,518
365,622
40,877
25,681
do
do
. do .
93,150
613,830
3,356
79,717
94,256
620,565
3,290
81,998
6,193
49,612
228
4,860
tho
890.1
764.5
2
4,974
561,756
377,203
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Taxable
Cigars (large) taxable
Exports cigarettes
p
l,806
88,501
347
0.200
0.315
19,220
0.306
0.405
Cottonseed oil:
Production* Crude
do
Production* Refined
..
. . do ..
Consumption in end products
do....
Stocks, crude and ref., end of period fl do....
Price wholesale ( N Y )
Soybean oil:
1
387
83,266 115,336
398
312
,
Consumption in end products
Corn oil:
Production' Crude
Production' Refined
Consumption in end products
Stocks, crude and ref., end of period
4,733
0.164
0.228
174,690
$ per lb..
do
Tea, imports
thous. lb..
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (incl. shortening):
Production
mil. lb..
Stocks end of period @
do
Salad or cooking oils:
Production
...
....
... do ..
Stocks end of period @
do
Margarine:
Production
do
Stocks end of period @
do
Price, wholesale (colored; mfr. to wholesaler or
"large retailer* delivered)
$ per lb
Animal and fish fats:
Tallow, edible:
Production (quantities rendered)
mil. lb..
Consumption in end products
do....
Stocks, refined, end of period
Imports
3
10,788
10,714
3,503
28,328
25,073
4,548
32,323
27,144
47,610
32,793
6,809
52,145
275
6,290
8,554
54,839
335
7,770
9,630
62,133
335
8,171
64,420
26,059
4,850
66,563
22,342
44,809
33,973
6,833
49,248
251
6,116
8,204
43,762
238
6,781
9,868
53,048
258
6,958
32,831
44,274
4,624
53,728
31,753
49,414
24,274
44,571
28,796
40,142
22,347
31,277
22,171
9,248
51,474
211
8,289
7,592
54,224
291
8,534
6,891
53,670
257
6,046
6,341
50,678
'274
6,621
8,031
56,519
335
6,214
6,231
1,975
S-27
SURVEY OF CURRENT BUSINESS
September 1981
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
July
Annual
1981
1980
1980
Aug.
Sept.
Oct.
Dec.
Nov.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LEATHER AND PRODUCTS
HIDES AND SKINS
Exports:
Value total #
thous $
Calf and kid skins
thous skins
Cattle hides
thous hides
Imports:
Value, total #
thous. $..
Sheep and lamb skins
thous pieces
Goat and kid skins . . . .
..
..
.. do. ..
Price, producer:
Calfskins, packer, heavy, 9 1/2-15 Ib
$ per lb..
Hides, native steer heavy
index 1967—100
LEATHER
Exports:
Upper and lining leather
thous so ft
Price, producer:
Sole, bends, light
index, 1967-100..
LEATHER MANUFACTURES
Footwear:
Production total
thous pairs
Shoes, sandals, and play shoes, except athletic
thous. pairs..
Slippers
do....
Athletic
do....
Other footwear
do....
Exports
do. ..
Prices, producer: *
Men's leather upper, dress and casual
index, 12/80-100..
Women's leather upper
index, 1967—100..
Women's plastic upper
index, 12/80=100..
991 707
2321
23 731
693 678
2495
19 568
45904
260
1509
52 134
281
1703
48820
325
1510
53048
138
1608
50461
137
1542
58493
202
1711
57458
242
1536
64390
264
1749
64187
263
1737
56,901
227
1,565
58209
278
1545
55,976
264
1,560
60,702
184
1775
138,800
15529
2444
88,200
9027
519
6,200
640
30
6,400
666
o
5,100
286
29
6,500
492
8
5,400
330
6
6,800
248
10
7,600
546
67
8,200
1289
34
7,300
926
68
8,700
1341
132
8,400
1484
59
10,100
1381
79
8,900
1446
117
1.687
6144
1.098
3859
1.100
3690
1.100
4480
1.100
3614
1.100
4129
1 100
4559
1.100
4206
375 1
344 1
3561
4058
3858
3674
3517
187 665
192 597
15 481
15 215
15 818
19 051
20 880
13 641
19 633
14 418
19 717
17 678
18016
18692
13921
329.6
2838
2826
3128
2840
2495
2689
2832
317 1
3027
3085
317 1
318 5
2984
32896
r
398 872
r
396 851
r
28 105
r
r
r
r
r
305,564
72 779
20,529
3651
7581
1929
299,131
r
73 337
r
24,383
r
3271
9781
2117
21,267
r
5053
1785
r
245
704
2127
31 642 r33 488 '37 159
23,720
r
5713
r
2,209
r
245
893
212 7
r
24,984
'28,032
r
6263 r6857
r
2r241 r 2270
r
297
305
875
952
2135
2157
r
r
30 382
r
29 514
31 253
30517
34 173
31 754
30 112
r
r
22,817 23,139
'5
456 '4327
r
r
2'l09
2048
r
r
297
278
908
877
23,052
5829
2372
342
710
22,995
5281
2241
348
804
25,808 24,935 '24,220
5926
5355 r5237
2439
2606 '2297
r
328
277
275
1 180
913
729
22,283
5 470
2359
284
976
551
1000
215 7
100.0
1006
2163
100.5
1020
2179
101.8
1036
214 0
102.9
2329
500
1 829
2350
492
1 858
5,805
1 807
3998
127
799
2523
520
2003
2424
501
1923
5,883
1 819
4064
2542
579
1 963
2379
557
1822
6,065
1 843
4222
756
2167
r
!026
214 0
102.8
r
1030
214 1
102.8
102 7
214 5
103.0
1027
214 0
102.9
2818
614
2 204
2752
592
2 160
6,098
1 872
4226
2 780
598
2 182
2 755
579
2 176
6,123
1 891
4232
2651
592
2059
2633
626
2007
6213
1 871
4342
2 588
560
2028
2 765
560
2 205
6015
1 839
4 176
848
966
980
991
934
842
601
549
576
551
937
51
9
42
486
514
562
521
978
49
9
39
698
594
622
618
982
43
9
35
598
601
601
591
992
51
13
38
538
540
576
599
969
47
8
39
566
505
533
601
901
43
13
30
486
510
521
481
941
31
6
25
r
r
LUMBER AND PRODUCTS
LUMBER—ALL TYPES #
National Forest Products Association:
Production, total
mil. bd. ft..
Hardwoods
do....
Softwoods
do....
Shipments, total
do....
Hardwoods
do....
Softwoods
do....
Stocks (gross), mill, end of period, total
do....
Hardwoods
do....
Softwoods
do....
Exports, total sawmill products
do....
Imports, total sawmill products
»
do....
SOFTWOODS
Douglas fir:
Orders, new
mil. bd. ft..
Orders, unfilled, end of period
do .
Production
do....
Shipments
do
Stocks (gross), mill, end of period
do
Exports, total sawmill products
do....
Sawed timber
do....
Boards, planks, scantlings, etc
do....
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ per M bd. ft..
Southern pine:
Orders, new
mil. bd ft..
Orders, unfilled, xend of period
do....
Production
....
..
. do .
Shipments
do....
Stocks (gross), mill and concentration yards, end
of period
mil. bd. ft..
Exports, total sawmill products
thous. bd. ft.
Prices, wholesale (indexes):
Boards, No. 2 and better, 1" x 6", R.L.
1967=100..
Flooring, C and better, F. G., 1" x 4", S.L.
1967=100..
See footnotes at end of tables.
1
37,061
7317
29,744
1
36,514
6942
29,572
5,342
1,171
4,171
1,447
11,513
^l^SS
*7220
24,665
^1,422
*6 584
24,838
5,805
1807
3,998
1,655
9859
2,479
494
1985
2454
419
2035
5,570
1613
3,957
119
876
2,783
570
2213
2,716
504
2212
5,659
1701
3,958
134
804
2818
527
2291
2708
494
2214
5,776
1741
4035
118
863
2903
549
2354
2851
511
2340
5,832
1783
4,049
123
867
2480
550
1930
2494
542
1952
5,826
1799
4027
117
892
8,388
529
8427
8412
918
520
156
363
6,791
499
6815
6 821
912
540
117
422
529
560
514
484
929
42
6
36
550
521
584
589
924
42
13
29
646
555
651
612
963
35
7
28
634
563
607
626
944
40
11
30
541
565
531
539
936
40
5
35
453
499
495
519
912
37
8
29
277.24
223.42
238.97
248.37
232.98
224.31
214.86
217 12
*7950
523
'7938
1
7,932
6559
419
6758
6,663
580
512
566
571
558
470
614
600
510
434
575
546
678
492
626
620
509
473
519
528
439
419
515
493
617
456
569
580
463
447
492
472
587
493
552
541
602
486
604
609
508
474
546
520
535
440
559
569
1,175
209,793
1,270
280,243
1,208
22,228
1,222
24,274
1,251
19,376
1,257
20,072
1,248
16,731
1,270
20,878
1,259
14,763
1,279
11,781
1,290
26,059
1,285
19,198
1,311
19,919
1,301
21,226
366.2
337.2
333.0
331.6
324.3
316.1
316.1
320.0
301.4
324.7
323.6
325.8
328.0
330.2
330.2
330.2
10,704
3732
103 8
213 5
103.4
S-28
SURVEY OF CURRENT BUSINESS
1979
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1980
Annual
September 1981
1980
July
Aug.
Sept.
1981
Nov.
Oct.
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
LUMBER AND PRODUCTS—Continued
SOFTWOODS— Continued
Western pine:
Orders new
mil bd. ft
Orders, unfilled, end of period
do....
Production
do....
Shipments
do
Stocks (gross) mill end of period
do
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R L (6* and over)
$ per M bd ft
HARDWOOD FLOORING
Oak:
Orders new
mil bd ft
Production
Shipments
Vgr />
7730
326
7613
7807
1 185
667
420
572
623
1 193
628
392
648
656
1 185
806
445
748
753
1 180
735
444
732
736
1 176
636
415
644
665
1 155
31726
287 55
31005
32735
30406
29325
306 22
340.83
19
37
40
29
20
15
(3)
780
124
73
9g
70
94
64
98
72
94
61
100
934
70
998
967
54
do
do
>
9630
403
9,780
9696
1379
P
516
326
635
605
1 185
688
418
659
596
1248
605
414
631
609
1270
747
442
736
719
1287
637
426
681
653
1315
19
15
19
25
37
58
124
64
109
6.7
93
8.0
97
9.6
93
573
355
684
644
1355
761
369
679
747
1,287
627
377
616
619
1284
279
628
2
218
348
1
1,663
37
36
(3)
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
thous sh tons
Scrap
•
do....
Pig iron
do....
Imports: Steel mill products
do
Scrap
do
Production
Receipts net
4,101
11,168
73
398
870
1
449
821
4
401
822
1
366
967
2
316
525
3
324
763
(2)
256
578
2
213
683
1
260
442
2
291
694
2
17,518
760
476
15,495
558
400
1,079
26
42
1,374
26
26
1,064
54
12
1,142
40
32
1,181
35
43
1,536
58
72
1,281
38
18
1,234
41
10
1,142
53
5
1,761
52
36
1,772
62
61
1,665
52
59
'52,219
'47,048
98,901
8,724
'42,207
'40,954
'83,710
8,018
2,583
2,324
5,009
7,684
2,856
2,574
5,520
7,653
3,247
3,066
6,328
7,691
3,691
3,770
7,402
7,771
3,584
3,609
7,410
7,607
3,820
3,961
7,386
8,037
3,774
3,769
7,486
7,939
3,750
3,604
7,435
7,856
4,240
4,261
8,379
8,004
4,078
4,018
8,137
8,015
r
4,001
r
4,162
r
8,184
r
8,175
3,876
3,775
7,635
8,250
98.07
101.50
92.17
96.17
73.77
73.50
83.61
88.50
92.38
99.00
96.65
104.50
98.21
105.50
101.86
106.00
96.34
103.50
94.28
101.00
98.74
109.00
101.44
112.00
96.13
105.50
88.63
99.00
87.07
99.00
'85,716
'86,218
33,776
'69,613
'69,594
25,058
5,326
7,021
2,712
4,736
6,052
2,029
4,368
6,211
2,062
5,024
6,638
2,499
4,686
6,587
2,348
5,913
6,009
1,809
5,964
2,800
1,292
6,052
1,545
1,075
6,751
2,035
1,165
6,280
3,938
1,794
7,265
8,906
2,901
7,525
9,625
3,879
3,059
115,892
115,014
4,455
55,753
11,368
38,969
5,416
850
87,188
89,397
5,073
56,066
14,265
35,706
6,095
795
9,467
5,456
284
56,784
21,073
31,176
4,535
54
7,671
5,644
650
57,545
19,757
32,953
4,835
67
8,054
5,953
484
57,999
17,914
35,009
5,076
60
8,498
7,203
552
57,653
16,289
36,131
5,233
38
8,323
7,895
309
56,621
14,374
36,499
5,748
57
7,625
8,326
563
56,066
14,265
35,706
6,095
69
4,162
8,667
33
54,536
17,477
31,088
5,971
22
2,686
8,126
2
53,154
21,990
25,554
5,610
76
3,794
9,293
63
50,786
26,736
19,972
4,078
55
6,233
8,793
625
49,781
29,336
17,286
3,159
70
11,520
8,841
2,967
51,411
27,700
19,885
3,826
111
11,924
8,162
634
53,744
25,601
23,480
4,663
78
12,350
8,022
530
87,003
87,458
881
203.00
68,721
'69,053
925
203.00
4,222
4,270
870
203.00
4,360
4,392
888
203.00
4,596
4,671
877
203.00
5,621
5,688
863
203.00
6,132
6,186
859
203.00
6,489
6,507
925
203.00
6,603
6,647
891
203.00
6,108
6,209
894
203.00
7,193
7,316
881
203.00
6,755
6,927
846
203.00
6,938
7,116
831
203.00
6,408
6,268
203.00
203.00
974
15,434
7,981
938
11,587
6,321
793
742
445
817
833
471
851
940
534
891
1,102
605
932
946
529
938
873
491
942
1,034
562
952
1,011
548
968
1,140
634
882
1,170
657
r
845
1,114
r
630
857
1,095
634
54
715
376
41
461
217
28
28
12
30
30
15
35
34
15
39
41
18
44
36
16
41
37
17
46
37
17
45
40
18
43
43
20
42
42
20
40
38
19
45
40
18
136,341 '111,835
72.8
87.8
6,796
53.1
7,018
r
54.4
7,767
r
62.6
9,442
72.2
10,057
79.5
10,180
77.8
10,590
79.9
10,028
83.7
11,744
88.6
11,243
87.7
11,423
86.2
10,451
81.5
660
122
112
621
145
132
603
141
128
609
133
121
606
148
135
668
158
144
586
163
147
558
173
155
540
154
137
r
525
150
132
490
154
135
Iron and Steel Scrap
thous sh tons
do
Stocks end of period
do
Prices, steel scrap, No. 1 heavy melting:
Composite
$ per Ig. ton..
Pittsburgh district
do...
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons..
Imports
do
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do....
Consumption at iron and steel plants
do....
Exports
.. do....
» , '•
At f
'
"
H
j
H
At U S docks
do
Manganese (mn. content), general imports
do....
Pig Iron and Iron Products
Pig iron:
Production (including production of ferroalloys)
thous. sh. tons..
Stocks end of period
do
Price, basic furnace
$ per sh. ton..
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
F
1'
do
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
For sale
do
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh. tonsRate of capability utilization
percent
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
For sale' total
See footnotes at end of tables.
do....
259 (
677
1
2,818
11,054
105
1
1,039
2,039
1.848
606
1,851
1,681
688
117
107
r
68
10,160
77.6
Aug.
S-29
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
1980
Annual
July
Aug.
Sept.
1981
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
Steel Mill Products
Steel products, net shipments:
Total (all grades) .
thous. sh
By product:
Semifinished products
Structural shapes (heavy) steel piling
Plates
Rails and accessories
Bars and tool steel total
Bars: Hot rolled (incl. light shapes)
Bars: Reinforcing
Bars' Cold finished
Pipe and tubing
Wire and wire products
Tin mill products
'
Sheets and strip (incl electrical) total
Sheets' Hot rolled
Sheets' Cold rolled
By market (quarterly):
Service centers and distributors
Construction incl maintenance
Contractors' products
Automotive
Rail transportation
Machinery industrial equip tools
Containers packaging ship materials
Other
100,262
83853
5,354
5,745
6682
7458
7,038
7,591
7,616
7,375
8,422
8,108
7,932
8148
7,115
do
do
do
do
5496
'5596
9035
2026
do
do....
do.. .
do
do
do
do
do
do
do
17601
9,958
5,303
2245
8242
2449
6310
43507
15995
17284
5 342
5207
8 080
1797
13 258
6,911
4683
1585
9097
1768
5709
33 595
12116
13313
351
355
595
98
832
386
347
94
672
118
416
1915
681
740
386
942
587
112
889
433
350
101
689
124
435
2 168
754
848
379
447
652
138
1 Oil
517
371
117
739
136
426
2756
988
1 104
496
489
702
124
1 132
583
415
126
789
146
432
3 149
1083
1282
488
432
627
125
1036
571
340
120
767
129
425
3010
1 111
1 179
543
426
661
140
1037
564
348
119
782
148
464
3390
1281
1325
441
457
667
145
1079
610
320
144
793
150
474
3410
1209
1368
477
426
720
158
1 146
659
342
140
776
153
473
3046
1077
1202
606
548
731
170
1334
764
407
156
945
185
431
3,470
1267
1,344
531
472
678
161
1292
740
395
150
949
161
431
3,434
1252
1,354
535
414
667
140
1258
722
385
145
925
150
388
3,456
1233
1402
529
408
627
116
1263
706
399
152
890
155
419
3739
1346
1,487
400
392
584
114
1 115
593
388
128
859
137
413
3,102
1 146
1,209
L do .
do
do
do
do
do
do
do ..
18263
10058
4021
4021
4*127
6027
6770
*32 452
16,174
8787
3362
3362
3 178
4566
5549
30082
37.1
309
339
33.3
31.5
300
306
30.9
30.7
308
31 1
11.5
76
96
69
11.9
69
11.4
68
10.3
66
9.6
67
96
69
9.6
69
9.5
70
95
71
9.8
71
tons
Steel mill shapes and forms, inventories, end of
period—total for the specified sectors:
mil sh tons
Producing mills, inventory, end of period:
Steel in process
. mil. sh tons..
Finished steel
do
Service centers (warehouses), inventory, end of
period
mil sh tons
Consumers (manufacturers only):
Inventory end of period
do
Receipts during period
do
Consumption during period
do. ..
74
73
67
72
71
66
70
73
69
72
72
66
630
66.6
77
41
4.6
73
44
4.8
69
51
5.5
65
59
6.3
64
52
5.3
66
54
5.2
67
62
6.1
70
64
6.1
70
67
6.7
1
5023
1,399
5 130
1,377
427
102
426
113
419
124
437
128
427
122
439
118
445
124
404
127
do
do....
5706
^Ol.O
5677
71.3
403
4.4
40.7
4.4
43.0
3.7
41.4
7.2
299
4.8
78.3
5.2
55.8
5.8
do....
do
200.6
2657
0.5940
715.0
3153
0.6957
51.3
246
0.6800
97.6
425
0.6800
98.9
245
0.6933
70.1
34 1
0.7546
55.0
242
0.7600
46.1
246
0.7600
14517
11230
6,296
2080
14057
10485
5,862
1538
1 110
806
464
88
1 172
819
464
108
1 184
858
481
119
1232
913
494
135
1021
796
435
124
5 125
5076
5,084
5,037
4,966
4,966
1,175.3
12W9
1 1219
'890
495
448
(3)
34.1
227
48.3
258
575.6
573.0
26.6
33.6
341.3
2179
5203
4318
26.8
247
308.8
80.5
330.1
17.4
39.2
1.9
2083
288
2083
365
0.0933
0.1024
2981
3048
483
2405
2834
483
5256
8014
596
1,358.3
5510
659 1
52 1
1,048.2
Price, primary ingot, 99.5% minimum .... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod (net ship )
mil lb
Mill products total
do
Sheet and plate
do ..
Castings
do
Inventories, total (ingot, mill products, and
scrap) end of period
mil lb..
Copper:
Production:
* Mine recoverable copper .. thous met tons
Refinery primary
do
From domestic ores
do
From foreign ores
do
Secondary, recovered
as refined
do....
Imports (general):
Refined, unrefined,
scrap (copper cont )
do
Refined •
do
Exports:
Refined and scrap
do....
Refined
.
do ...
Consumption, refined
(by mills etc )
thous sh tons
Price, electrolytic (wirebars), dom., delivered
$ per lb..
1 443.6
15154
14115
1039
1
(3)
2
1,442
2
750
2
284
2
1089
2
151
2
362
2
453
2
2,583
r
r
31.7
30.8
9.9
73
10.4
75
10.2
72
69
72
67
63
r
6.6
r
66
r
64
r
6.5
66
65
6.5
448
146
431
139
441
139
420
148
55.7
8.9
756
7.5
50.2
10.7
67.8
13.9
559
11.6
639
12.5
59.4
30 1
0.7600
23.2
27 1
0.7600
32.9
326
0.7600
48.6
265
0.7600
29.3
306
0.7600
23.5
214
0.7600
29.3
180
0.7600
1203
868
492
122
1090
883
511
141
1072
859
486
131
1294
963
562
154
1 199
952
550
148
1
189
r
929
r
541
139
1254
947
557
145
5,082
5,076
5,221
5,323
5,408
5,495
r
5,626
76.0
642
587
55
102.0
902
827
75
116.8
121 1
109.6
115
119.4
1260
113.5
125
114.0
1250
1103
146
121.4
1396
1317
79
124.6
140 1
131.0
92
r
!27.9
1317
123.6
81
124.6
1331
1255
76
33.4
60.8
45.0
36.9
38.9
52.8
45.5
63.1
38.6
348
42.8
39 1
64.2
592
558
460
44.3
368
41.7
247
39.0
294
29.0
218
40.2
28.1
28.6
217
51.1
345
41.6
322
39.2
0.9
20.8
0.4
25.3
0.5
25.2
1.0
22.9
3.4
36.2
2.9
32.1
2.5
38.7
5.8
20.2
1.2
33.7
0.9
40.0
3.5
18.5
1.3
0.8803
0.8580
0.8523
0.8441
263
42.4
33
91.2
275
44.1
115
89.1
24
99
(3)
(3)
(3)
(3)
500
365
375
392
1.0356
4,997
2442
892
3811
548
1292
1399
8,806
4,696
2356
958
3591
753
1261
1470
8,326
102
801
80.3
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous sh tons
Recovery from scrap (aluminum content)
do....
Imports (general):
Metal and alloys crude
Plates sheets bars etc
Exports:
Metal and alloys crude
Plates sheets bars etc
4,693
2237
945
3473
702
1003
1325
7,709
3432
2006
727
2440
582
882
1 192
6518
1.0071
0.9886
674
532
694
108
417
52.2
42
79.5
393
56.0
65
95.6
0.9947
0.9698
0.8913
622
642
622
116
396
58.1
37
92.5
412
54.9
26
92.0
r
5,600
527
331
0.8857
0.8607
0.8738
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
Copper wire mill products (copper cont )
Brass and bronze foundry products
mil lb
do
do
Lead:
Production:
Mine recoverable lead
thous met tons
Recovered from scrap (lead cont )
do
Consumotion. total
See footnotes at end of tables.
do....
43.5
45.9
20
68.2
485
50.2
46
103.0
0.7600
867
670
119
423
46.5
35
98.9
405
43.9
60
90.7
430
43.8
11 1
95.9
0.8739
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
July
Sept.
Aug.
Oct.
Nov.
Jan.
Dec.
Apr.
Mar.
Feb.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Lead—Continued
Stocks, end of period:
Producers', ore, base bullion, and in process
(lead content), ABMS ....:
thous. met. tons..
Refiners' (primary), refined and antimonial
(lead content)
..
thous. met. tons..
Consumers' (lead content) ]J
do
Scrap (lead-base, purchased), all smelters
(gross weight) .
thous met tons
Price common grade, delivered
$ per Ib
46.1
1232
54.8
958
74 1
05264
412
0 4246
Tin:
Imports (for consumption):
Ore (tin content) .
.
metric tons
Metal, unwrought, unalloyed
do....
Recovery from scrap total (tin cont )
do
As metal....
do
Consumption total
do
Primary
do...
4529
48,354
21
493
5
1767
5
62
465
5
49,496
Exports, incl. reexports (metal) ...........
Stocks pig (industrial) end of period
-Price, Straits quality (delivered)
Zinc:
Mine prod recoverable zinc
Imports (general):
Ores (zinc content)
Metal (slab blocks) ..
do....
do
$ per Ib..
1
1
105.2
5
5
3,418
258
7.5389
135.3
842
45 983
18
638
5
1703
5
56
362
5
41 342
5
4,293
564
8.4600
138.3
138.9
610
873
49 1
845
31.5
868
26.1
907
385
03560
355
04096
382
04226
389
04500
o
140.9
0
3 131
1 015
125
3700
3000
426
6544
8.4316
o
142.4
2736
1230
175
3900
3050
3095
1220
155
4 150
3350
147
3688
1370
155
4300
3400
498
6,051
8.3922
227
5 180
8.6898
180
5208
8.4000
135.3
126.5
132.0
122.7
110.5
108.3
416
94 4
548
958
77.9
918
81.3
879
77.4
87 1
72.8
865
57.1
89 1
398
04381
412
03897
435
03379
37 1
03042
37 1
03506
382
03752
384
03641
1369
26
3738
1 175
120
4050
3250
o
3805
1265
150
3750
3,000
151
547
5086 - 5504
7.9779 7.5956
o
4790
1 195
145
4300
3500
415
5968
7.4876
o
o
3327
1330
120
4400
3,600
3985
1220
130
4 100
3300
233
5745
7.1349
919
5229
7.0026
o
3,856
1 185
135
4600
3,700
287
5725
6.8358
o
4,831
1285
160
r
4400
r
3,500
343
5978
6.5806
r
111.1
117.2
03797
04098
0
4,359
0
3440
4350
3,200
411
6227
6.5839
2673
313 1
246
252
24 1
282
240
245
246
248
276
255
248
23 1
do
do
2250
527 1
1138
3290
163
208
156
30 1
86
323
21
383
85
45 1
136
520
194
364
60
517
108
484
39
525
102
523
133
71.7
do
do
797
3140
676
236 1
45
180
53
183
46
184
38
194
63
193
64
19 1
64
19 1
57
192
48
198
57
199
49
189
52
19.0
*525.7
1001
0.3
325.3
5
817
0.3
18.8
468
(2)
24.2
582
26.0
667
(2)
28.1
746
27.1
723
(2)
30.2
705
(2)
30.3
745
0.0
28.5
736
(2)
31.3
773
(2)
30.9
743
0.1
29.2
736
(2)
28.0
790
(2)
55.8
59.1
03730
18.7
58.8
0 3743
38.2
57.5
03550
32.1
56.3
03573
18.7
57.5
03858
18.7
58.8
04059
16.7
57.1
04119
17.0
57.9
04125
19.0
57.4
04130
16.0
61.8
04258
15.6
66.4
04520
16.2
66.3
04612
Heating, combustion, atmosphere equipment, new
orders (domestic), net; qtrly #
mil $..
Electric processing heating equipment
do
Fuel-fired processing heating equip
do....
372.6
1055
160.4
348.3
828
156.5
Material handling equipment (industrial):
Orders (new) index seas adj
. .
1967—100
4194
3755
35535
33153
45340
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
do
Industrial trucks and tractors (internal combustion
engines) shipments
number
24,183
28654
20,495
24 110
1,511
1577
1,396
1647
1,913
1947
1,624
1839
55782
39448
2073
1972
2590
thous met tons
....
Consumption (recoverable zinc content):
Ores
Scrap all types . .
.
Slab zinc: @
Production, total $
thous. met. tons..
Consumption fabricators
do
Exports
do....
Stocks, end of period:
Producers', at smelter (ABMS)
do....
Consumers'
do....
Price Prime Western ; •• ,
$ per Ib
27.3
57.9
03663
(2)
21.3
58.6
03726
r
04389
1,019
6.8981
7.5339
85
55.4
30.0
30.4
(2)
18.9
20.8
04625
04747
MACHINERY AND EQUIPMENT
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977=100..
Industrial suppliers distribution: f
Sales index seas adjusted.
.. . . 1977 — 100
Price index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977—100..
Fluid power products shipments indexes: *
Hydraulic products seas adj
1972 — 100
Pneumatic products seas adj
do
Machine tools:
Metal cutting type tools:
Orders new (net) total
Domestic
Shipments total
*. .
Domestic
Order backlog end of period
Metal forming type tools:
Orders, new (net) total
Domestic
Shipments, total
Domestic
'
Order backlog end of period
39.5
194
20.1
91.8
367
19.3
87.7
21 1
42.4
38484
3837
3620
4410
3655
4319
3695
1,512
1658
1,521
1712
1,129
1490
1,443
1527
1,893
1693
1,505
1727
1,559
1551
1,735
1722
1,383
1258
2878
2636
2562
2687
2667
2920
2817
2563
2962
2366
37113 34065
132.1
109.8
102.6
100.5
100.2
103.3
109.2
112.0
111.6
113.8
117.8
118.0
115.7
118.2
121.9
1296
1345
1322
1342
1314
1357
1327
128 1
1389
1356
1389
1456
1402
1409
1494
117.4
131.2
1329
133.2
133.9
134.6
135.3
136.3
137.8
139.4
140.8
142.6
143.6
144.2
145.8
147
120
153
136
284
236
244
218
246
225
253
251
240
233
255
259
245
248
262
245
260
253
278
255
267
244
294
245
310
266
mil $
do....
. do
do....
do.. .
4 495 10
3 865,80
2 930 05
2,605.50
4 545.7
388475
3495.50
3 680 80
3,206.00
4749.7
26760 16505
250.65 148.95
248 05 24465
211.50 223.50
5 1086 50290
29565
259.45
33775
292.80
4,986.9
28655 27500 24500
263.05 253.95 207.25
352 15 31865 372 80
295.10 271.45 314.50
4 921.3 4 877.6 4,749.7
20655
186.30
30870
270.70
4,647.6
21280
179.90
33530
279.75
4525.0
do....
. do
do....
do
.. do
1047.60
91990
946.50
85980
6188
776.95
66495
1,010.95
878 55
3848
74.45
6845
80.25
6730
3790
64.45
5690
86.85
7265
356.6
19,812
1,322.1
4,962
4191
16,460
1,272.9
4,781
3875
3,824
293.0
1,265
1011
3,288
283.0
947
736
4,398
391.9
1,258
1040
4,423
425.3
1,137
1033
54,414
1758 1
. 45,495
16962
9,340
3582
9,004
3376
9,381
4398
9,675
4650
147 385
3 424.2
147 385
3 113.7
27750
580.5
32306
8797
39213
9380
41763
9624
Tractors used in construction, shipments, qtrly:
Tracklaying, total
units.
mil. $..
Wheel (contractors' off-highway)
units..
mil $
Tractor shovel loaders (integral units only),
wheel and tracklaying types
units.
mil $
Tractors, wheel, farm, nonfarm (ex. garden and
construction types) ship qtrly
units
mil. $
6
36.95
30 45
78.90
6770
4939
79.15
7245
73.45
66 10
492.7
59.40
5130
66.25
5360
4870
43.45
3740
87.65
7240
448.5
54.05
44 15
81.50
6945
421 1
54.15
4405
90.50
7795
3848
28725 22855
249.05 191.55
37385 35850
311.80 291.40
44384 4 308.5
5745
5290
103.25
7520
3108
76.45
5910
88.90
7065
2984
1506
291
266
17900 25365 PP132 45
162.35 206.05 116 90
33195 41295 P295 50
274.10 352.45 P"256.05
4 1556 39962 3 833.2
48.95
4290
79.35
67 10
2680
55.40
4885
95.85
7545
2275
P
58.10
P
5285
P
91.75
P
6235
P
213.8
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement), ship
thous.
53,746
50,063
3,525
4,564
Radio sets, production, total market
Television sets (incl. combination models),
production, total market
thous.
40,029
28 104
2,607
2365
thous.
16,616
18.532
1,240
1,359
See footnotes at end of tables.
5,741
6,249
5,361
5,520
4,820
3,548
3
3,792
2540
2931
3
2 149
2243
1,986
3
r3
2,078
1,668
1.684
3
1.560
1.518
S
1,765
3,331
3,460
3,488
2030
1905
2519
3
1.376
1,390
3
1.895
3,658
2683
1.777
4,037
P
3438
1.216
1.494
S-31
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
ELECTRICAL EQUIPMENT— Continued
Household major appliances (electrical), factory
shipments (domestic and export) $ .
thous
Air conditioners (room)
do....
Dishwashers . .
do
Disposers (food waste)
do....
Ranges
do
Refrigerators.
do....
Freezers
do
Washers
do. .
Dryers (incl. gas)
do....
Vacuum cleaners (qtrly.)
. .
do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments. ...thous..
Ranges total sales
do
Water heaters (storage), automatic, sales @
do....
33162
3,749
3488
3,317
3 000
5701
1858
4965
3,551
8674
30259
3,197
2738
2960
2530
5 124
1681
4550
3,177
7439
2711
566
184
r
200
189
477
182
345
227
2391
94
212
229
191
464
180
397
257
2478
66
261
234
206
476
146
401
285
1948
2877
90
297
343
257
519
123
468
333
2234
'125
204
256
208
371
74
331
284
2131
203
198
223
185
295
89
302
238
1370
2566
226
242
280
218
408
91
408
297
2531
370
205
274
198
364
122
365
244
2975
623
228
317
197
424
142
408
260
2 119
2982
603
240
309
220
440
141
368
245
2613
477
192
252
193
428
142
346
221
1863
1799
2.887
1446
1538
2.818
94
93
199
123
119
208
147
138
237
174
142
271
144
121
218
132
141
246
136
114
260
123
118
242
128
143
286
111
125
287
105
123
226
538
8
5429
565
114
'542 8
620
167
'5452
3 136
653
220
230
219
542
206
402
247
r
2683
283
190
237
200
511
227
376
243
!08
134
235
114
105
204
259
170
5530
565
283
565 1
332
5829
5957
823 644 60656 67890 68344 71723 68 130 71647 65296 70 026 76928 38 024 36758
669 061 62 858 62 493 57008 55459 56 464 62978 67347 59 732 60278
568,322 53,561 53,134 47,829 45,019 45,642 51068 54276 47855 48,323 43,604 44,908
9138
9053
8884 10005 10389 11 318 12382 11478 11650
125 815
4,867
4,893
4,785
5,099
66,493
5,142
5335
5,975
5,666
6,058
221
295
435
4924
243
433
592
689
399
305
2
199 077 183 745 186 387 189 978 197 291 199 572 199 077 193 090 191 933 200 397
178 269 164 851 167 792 170 776 177 564 179 472 178 269 172 151 170 856 179 032 163 859 147 095
20808 18894 18595 19202 19727 20 100 20808 20 939 21077 21365
7829
8386
8 175
8445
9*017
8563
9017
9105
9200
9445
8266
9204
89882
8905
8 169
5727
5911
7972
8944
6762 r 9593 r 8 099
467.8
4702
4665
4834
4848
4667
4696
4740
4738
4760
4779
4783
62210
5872
4886
10414
5023
5036
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
thous sh tons
Exports
,
do....
Price wholesale *
Index 1967—100
Bituminous:
Production
thous sh. tons
Consumption total
do...,
Electric power utilities
do...,
Industrial total
do
Coke plants (oven and beehive)
do....
Residential and commercial
do
Stocks end of period total
do
Electric power utilities..
,
do....
Industrial total
do
Oven-coke plants
.....
. . do
Exports
do
Price, wholesale
Index, 1967—100..
COKE
Production:
Beehive and oven (byproduct)
thous. sh. tonsPetroleum coke §
do..
Stocks, end of period:
Oven-coke plants total
do
At furnace plants . .
.
do
At merchant plants
do....
Petroleum coke
do
Exports
do
PETROLEUM AND PRODUCTS
Crude petroleum:
Oil wells completed
number..
Price wholesale
.
. • . Index 1967 — 100
Gross input to crude oil distillation
units
mil bbl
Refinery operating ratio
% of capacity..
All oils, supply, demand, and stocks:
New supply total K
mil bbl
Production:
Crude petroleum
. . do
Natural gas plant liquids
do....
Imports:
Crude and unfinished oils
do....
Refined products
do....
Change in stocks all oils (decrease —)
do
Demand total
do
Exports:
Crude petroleum
do....
Refined products
do
Domestic product demand total #
do....
Gasoline
do
Distillate fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liouefled gases
Stocks end of period total
Crude petroleum
Strategic petroleum reserve
Unfinished oils natural gasoline etc
Refined products
See footnotes at end of tables.
do
do
do
do
do....
do
do
do
do....
do
do....
4835
1233
4110
776 299
677 286
526,005
144 150
77,009
7 131
178 440
156 440
21660
10028
64783
451.1
6056
1795
4637
509
286
4698
629
273
462 1
478
96
4782
567
248
4796
525
80
491 1
470
57
4979
292
65
5087
5
'52,943
27455
46,132
27094
3,370
2402
3,387
2318
3,295
2244
3,470
2 186
3,565
2203
3,683
2329
5185
4590
595
1042
1545
8627
7521
1,106
857
2 162
8 133
7095
1038
1 167
199
8676
7612
1063
1 151
246
9018
7907
1,112
1042
207
9011
7889
1,123
974
260
9040
7833
1,207
1001
156
8627
7521
1 106
857
67
101
54
2357
5668
2,636
5713
2,409
5796
2,239
6006
3,675
6328
1,789
7044
2,462
8427
T
!9,383
3765
r
26,984
5564
2,079
5514
54587
85
50484
76
4219
74
4123
73
4079
74
4030
71
4034
73
4327
75
68020
62365
5009
4984
490.8
5078
495.2
5290
3 1213
594.2
3 146 5
589.7
2652
482
261 1
48.2
2586
46.8
264.6
47.8
2550
48.4
2669
49.5
2,400.9
685.6
4
557
69289
1 930.4
5699
532
64225
145 1
424
148
5113
147.0
42.1
237
497.4
142.3
43.2
-24
513.1
146.8
48.6
-168
542.8
141.4
50.4
42
517.3
157.1
55.5
-386
588.3
r
85.7
86 1
6 757.1
25815
686
12085
10316
3927
655
172.0
5810
4
1 340 9
4303
3
91.2
4
1320
4
778.6
2.4
9.6
9.6
8.7
10.6
103.9
7.4
7.1
89
7.8
943
91
75
87
487.5
496.4
524.2
500.8
569.0
6 224.3
4948
1965
2078
188 1 ( 2062
24207
2100
2073
45
37
73
582
43
39
36
77.7
90.5
87.5
10486
66.2
113.0
690
708
689
729
85 1
9124
709
709
31.7
32.1
30.9
33.6
391 1
344
32.3
4.3
4.9
5.5
47
48
583
43
15.8
17.8
17.3
10.2
7.3
142.6
18.2
396
490
5328
357
355
460
542
13953 14252 1 448 9 14465 14297 14339 13953
478.8
468.8
475 1
475 1
4705
465 5
4655
91.2
92.8
96.6
107.8
91.2
107.8
102.3
1482
1497
1490
1433
1410
1410
1495
828.0
805.6
805.2
821.9
815.4
788.8
788.8
11,382
5
7586
5
6564
5
1022
132
r
^
3,102
8428
r
118
89
206
73
2,905
8425
2,604
8400
3,497
8160
2,790
7990
3,137
7970
SURVEY OF CURRENT BUSINESS
S-32
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products:
Gasoline (incl. aviation):
Production
mil bbl
Exports
do
Stocks end of period
do
Prices (excl. aviation):
Wholesale, regular
Index, 2/73=100..
Retail, regular grade (Lundberg/Platt's): fl
Leaded
$ per gal..
Unleaded *
do....
Aviation gasoline:
Production
mil. bbl.
Stocks end of period
do
Kerosene:
Production
do
Stocks, end of period
....
do
Price, wholesale (light distillate)
Index, 1967=100..
Distillate fuel oil:
Production
mil bbl
Imports
do
Exports
do
Stocks, end of period
. do
Price, wholesale (middle distillate)
Index, 1967=100..
Residual fuel oil:
Production
.
mil bbl
Imports
do....
Exports
do
Stocks, end of period
..
..do
Price, wholesale
Index, 1967 — 100..
Jet fuel:
Production
.
mil bbl
Stocks, end of period
do .
Lubricants:
Production
do
Exports
do
Stocks end of period
do
Asphalt:
Production
do
Stocks, end of period
do.. .
Liquefied gases (incl. ethane and ethylene):
Production total
do
At gas processing plants (L.P.G.)
do
At refineries (L R G )
do
Stocks (at plants and refineries)
do....
1949
25146
02
2
2399
23940
05
2642
2017
01
2638
2014
(i)
2622
1924
02
261 0
1912
(l)
249 1
2597
C)
2069
(*)
2642
367.6
576.7
601.1
602.9
599.6
591.5
590.8
596.1
4
0.878
0.919
1.217
1.261
1.235
1.278
1.233
1.278
1.221
1.268
13.7
2
27
128
28
1.3
29
14
30
09
27
668
158
503
116
38
143
33
133
36
129
903.1
1.217
1.265
1.220
1.268
1.233
1.281
0.9
26
10
28
38
124
39
127
52
116
903.2
896.3
896.8
911.4
810
4.0
2233
897
5.2
(i)
205 1
873.4
891.1
607.5
632.9
683.2
r
694.7
690.2
685.6
677.3
670.1
1.384
1.435
5
1.400
5
1.398
1.448
1.398
1.449
1.398
1.450
1.397
1.449
r
1.278
1.326
1.372
1.421
932.1
972.0 1,041.0 1,080.9
1,083.1 1,077.6
1,066.4
1,051.4
935.4
1,000.3 1,082.8 1,105.4
1,091.5 1,091.7
1,080.0
1,072.9
473
515
30.7
31.8
26
19
938
903
1,017.3 1,166.9 1,207.9
1,248.6 1,323.7 1,334.6
1,316.3 1,255.8
1,234.6
1,246.4
11
26
539.6
863.4
892.7
1 1508
705
11
2287
9749
508
12
205 1
834
36
01
2138
763
24
(i)
2263
806
30
(i)
2323
803
36
(*)
2257
573.9
850.6
870.2
875.6
873.7
868.4
6156
420.1
32
956
684.5
577 1
336.6
122
903
961.2
459
24.4
19
856
944.5
44 8
27.1
01
869
953.7
449
272
06
879
956.2
469
270
22
910
943.8
3692
38.5
3656
42.0
302
40.9
297
40.3
312
422
303
43.2
29.7
43.9
298
42.0
710
8.6
125
65 1
8.6
135
58
0.8
133
50
06
136
54
06
137
53
0.6
132
50
0.5
132
54
0.6
135
1688
18.9
1412
18.8
14 1
26.2
139
22.5
138
19.1
126
16.1
109
17.0
91
18.8
5680
443.9
124 1
2
110.7
5645
4436
1209
125.0
46 1
35.9
102
125.5
467
367
100
134.7
447
352
94
137.1
475
38.2
93
134.5
465
36.7
97
132.1
487
38.0
107
125.0
C)
1.449
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:
Receipts
thous cords (128 cu ft )
Consumption
do....
Stocks end of period
do
Waste paper:
Consumption
thous sh. tons
Stocks, end of period
do....
WOODPULP
Production:
Total, all grades #
thous. sh. tonsDissolving and special alpha
. ... do
Sulfate
do
Sulfite
do .
Groundwood
.
do
Semichemical
do....
Stocks, end of period:
Total all mills
do.. .
Pulp mills
...
do
Paper and board mills
do
Nonpaper mills
do ...
Exports all grades total
do
Dissolving and special alpha
do....
All other
.
..
do
Imports all grades total
do
Dissolving and special alpha
do....
All other
do
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
All grades, total, unadjusted
thous. sh. tons..
Paper
do
Paperboard
do
Wet-machine board
do....
Construction oaoer and board
do....
See footnotes at end of tables.
3
76 887
3
81802
80,522
6285
6782
6,356
6 114
6893
6719
6310
6722
6601
6349
6878
6,779
6396
6408
6,710
6123
6480
6,234
6285
6832
6700
6336
6378
6,477
6210
6847
6,889
6009
6528
6,882
5528
6465
6,716
5 123
6649
6,790
4985
3
12,762
831
957
743
1051
727
1051
747
1,153
790
1,068
763
1070
831
1 109
825
1,148
922
1,229
854
1,195
910
1,159
r
866
1,153
875
3
50,612
1,447
35553
1,829
4667
3,854
50,914
1,510
38931
1,844
4596
4,036
.3,965
111
3049
130
369
306
4334
129
3324
150
397
335
4 186
94
3216
160
388
328
4,319
124
3292
164
411
328
4,224
123
3236
157
366
341
3851
126
2867
155
393
311
4355
116
3305
167
420
348
4 128
115
3138
155
396
325
4,621
110
3556
157
438
360
4,501
108
3479
148
421
345
r
4584
125
3516
165
425
353
4399
120
3352
159
430
338
930
364
507
59
3
2,935
764
3
2,170
3
4318
155
3
4 163
944
439
449
57
3,806
769
3,037
4051
194
3858
982
461
453
68
356
73
283
285
10
276
1,034
493
479
62
385
70
315
344
21
323
960
454
452
54
313
60
252
300
10
290
960
467
440
54
341
52
289
298
12
286
1,042
542
446
54
247
52
195
323
24
299
944
439
449
57
322
52
270
334
10
324
1031
542
433
57
291
67
224
380
23
356
1,107
568
475
64
279
61
218
355
9
346
1,035
531
447
61
356
83
272
368
22
346
1,077
581
438
58
290
48
243
295
8
287
1,088
r
607
r
430
51
363
61
302
414
26
388
1 142
613
477
52
359
70
289
349
8
341
66,608
30012
30936
144
5.516
65,030
29874
30902
135
4.119
4,945
2228
2395
8
314
5,299
2382
2561
10
346
5,314
2382
2560
13
359
5,720
2614
2,702
13
391
5,342
2413
2570
13
346
5221
2474
2406
13
328
5646
2617
2675
12
342
5331
2448
2523
17
343
6,005
2762
2849
16
379
5891
2679
2811
18
383
r
5701
2635
2690
13
363
77,362
5430
12,915
636
r
5757
'2626
r
2751
15
r
365
237
65
172
329
25
304
S-33
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1980
July
Aug.
Sept.
1981
Oct.
. Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Cont.
Paper and board—Cont.
Producer price indexes:
Paperboard
1967— 100..
Building paper and board
do
202.1
1824
235.2
2061
237 1
2118
2384
2103
2395
2102
2399
2127
2417
2156
241.1
2191
250.2
2197
r
252.8
r
r
2257
r
r
255.7
r
2325
262.3
2369
262.7
2368
261.4
2346
Selected types of paper (API):
Groundwood paper, uncoated:
Orders new
Orders unfilled end of period
Shipments
1519
149
1509
1501
116
11506
121
109
118
136
118
127
121
112
122
139
121
130
123
125
121
115
116
124
129
122
129
113
124
114
126
132
122
103
111
127
128
117
121
107
106
120
121
122
106
409
324
405
r
405
r
320
r
r
406
r
313
r
396
335
375
r
698
r
r
612
r
615
622
r
r
r
r
298
335
thous sh tons
do .
do
2257
2279
Coated paper:
Orders new
.. ..
Orders unfilled end of period
Shipments
. .
do
do
do
4547
385
4527
J
4 763
389
4671
401
398
340
388
411
378
390
402
389
435
421
421
380
398
394
395
389
405
394
365
426
377
352
391
427
345
438
Uncoated free sheet papers:
Orders new
Shipments
do
do
7826
8189
17708
1
8344
581
612
598
676
601
664
735
728
616
662
618
671
693
690
603
656
710
744
r
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous sh tons
Tissue paper production
do
3934
4506
1
282
321
306
349
311
353
328
370
302
367
293
345
322
372
309
352
345
395
r
'4353
Newsprint:
Canada:
Production
thous metric tons
Shipments from mills
..
do
Stocks at mills end of period
do
8756
8780
162
8625
8622
165
601
640
154
692
662
183
651
642
192
735
735
192
708
691
208
691
735
165
751
695
221
702
684
238
766
769
235
772
782
225
770
744
251
748
776
223
3685
3689
16
4239
4234
21
353
350
32
534
377
381
28
583
358
346
40
592
338
357
21
576
356
357
25
399
395
29
391
392
29
402
400
30
404
394
39
404
400
43
6586
374
371
30
533
379
374
26
6673
341
350
27
498
628
7223
732
7279
793
550
793
546
782
584
763
588
696
568
732
596
768
584
807
587
827
620
846
584
847
622
902
942
568
2838
2838
2838
2983
3019
3019
3019
3019
3019
United States:
Production
do
Shipments from mills
do
Stocks at mills end of period
do
Consumption by publishers ]]
do
Stocks at and in transit to publishers, end of
period
thous metric tons
Imports
thous sh tons
Price, rolls, contract, f.o.b. mill, freight allowed
or delivered
Index 1967 100
3788
3
2494
Paperboard (American Paper Institute):
Orders new (weekly avg.)§
thous. sh tons..
Orders unfilled
do
Production total $
..
do
613
1393
31429
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. area..
Folding paper boxes shipments
thous sh tons
mil $
250,643
27160
2 416 7
2793
2837
r
664
731
348
372
411
411
731
691
317
367
342
385
r
568
3019
261.2
2338
3148
(2)
(2)
X
30 952
2407
2567
2529
2683
2603
2313
2709
2539
2842
2747
2854
243,228
18,456
19,345
21,054
23,229
18,849
19,313
21,161
20,044
21,383
21,583
52.34
12539
55.21
122.76
86.64
0690
16968
166.29
354.11
r
2666
2502
19,808
20,933
20,486
52.21
12363
53.38
0.650
54.72
12531
67.62
0.590
0.580
57.60
11937
50.47
0570
41.59
0.560
20005
195.68
18094
148.00
31.65
345.04
38.73
363.56
31.77
175 92
167.48
365.24
32.00
158 18
153.86
357 00
28.55
26.27
(2)
(2)
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption . .
Stocks end of period
38.84
14989
38.49
0673
43.16
13850
49.38
13290
4948
12952
31.37
0680
55.92
0728
0790
2 534 50
2 340 62
40286
385 10
2 009 04 11029
1 854 00 131 03
34177 391 19
36.54
42278
12367
13373
14976
16597
17459
16786
37233
3046
33973
2551
206 687
213929
58072
150 781
5077
44873
6572
159 263
177 063
40227
131 271
5565
33298
9058
10206
13 457
2217
10 817
423
40,079
572
12057
15,537
2521
12 566
450
37,057
657
3576
4557
458
265
thous. metric tons..
•
do
739.00
132 12
Imports, incl. latex and guayule ....thous. Ig. tons-
747.68
0651
Price wholesale smoked sheets (N Y )
Synthetic rubber:
Production
Consumption
$ per Ib
thous metric tons
do
Stocks end of period
do
Exports (Bu of Census)
thous. Ig tons
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous
Shipments total
do....
Original equipment
do
Exports
Stocks end of period
Exports (Bu of Census)
Inner tubes, automotive:
"
See footnotes at end of tables.
do
do....
do
586 15
12667
598.31
0730
48.69
12667
45.06
48.76
12796
30.06
0730
0713
17845
157.70
19369
155.13
19352
162.34
32535
3345
328.87
30.72
341 77
32.31
36400
31.21
13911
17,564
3615
13497
452
33,730
885
15790
18034
4304
13 133
597
32,112
638
12,861
13,305
3376
9499
431
32,363
691
13346
12,926
2707
9767
452
33,298
946
15463
15,622
3228
11916
478
40,188
797
15641
14,323
3206
10537
580
43,258
1081
16,834
18,617
4,301
13607
709
43,686
1,055
15,466
18,835
4 154
14 160
521
42,393
1,224
15,183
18,619
4292
13851
476
40,615
1072
15406
19,324
4538
14290
496
38,570
1040
14548
17,701
3,026
14220
455
37,457
830
464
226
314
317
206
358
335
374
252
250
350
31.77
50.26
123 14
50.31
66.36
0.540
SURVEY OF CURRENT BUSINESS
S-34
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
September 1981
1981
1980
Annual
Aug.
July
Sept.
Dec.
Nov.
Oct.
Jan.
Feb.
Mar.
Apr.
May
June
July
34,181
38,074
38,872
Aug.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
thous. bbl.. '451,383 '404,569
39,840
39,644
40,489
43,303
31,824
28,181
20,665
20,782
30,229
35,165
588.0
9.1
71.5
574.0
8.9
76.7
625.5
9.4
78.7
681.0
9.7
96.5
527.9
10.3
73.5
463.4
9.7
45.5
385.6
6.4
36.8
361.4
11.1
34.3
515.0
9.7
50.4
528.8
7.1
45.0
CLAY CONSTRUCTION PRODUCTS
Shipments:
Brick, unglazed (common and face)
mil. standard brick..
Structural tile except facing
thous sh tons
Sewer pipe and fittings, vitrified
do....
Facing tile (hollow), glazed and unglazed
mil. brick equivalent..
Floor and wall tile and accessories, glazed and
unglazed
mi so ft
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967=100..
7,708.1
59.0
855.3
6,335.2
101.6
721.8
54.0
45.4
4.2
3.0
3.8
4.2
3.2
3.6
2.7
2.4
3.2
3.2
312.8
297.6
24.1
24.4
26.1
25.9
21.1
23.1
20.6
21.7
27.1
25.6
263.1
280.8
281.7
280.7
281.6
285.9
286.3
286.3
290.2
289.6
r
299.3
r
501.1
'8.8
38.9
3.0
3.8
24.1
24.1
302.2
302.2
r
r
300.1
479.9
7.0
38.6
303.7
303.8
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
Glass containers:
Production
Shipments domestic total
Narrow-neck containers:
Food
Beverage
Beer
Liquor and wine
thous. $..
thous gross
do
do
do
do....
do
Wide-mouth containers:
Food (incl. packer's tumblers, jelly glasses,
and fruit jars)
thous gross
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do ...
Chemical, household and industrial
do....
Stocks end of period
.
. do ...
858,130
r
r
r
868,459
247,797
211,049
233,439
248,658
321,999
327,022
27,739
29,162
27,040
29,763
25,427
21,122
25,961
25,456
28,201
27,851
r
29,532
27,686
316,024
323,816
28,997
29,437
30,781
27,162
23,459
23,561
23,332
23,160
29,327
27,312
r
26,799
30,081
29,340
24,531
57,150
113,875
24,306
24,808
61,032
122,678
24,574
1,964
6,385
11,876
1,873
2,339
6,039
11,388
2,031
2,468
6,005
10,925
2,278
1,845
5,088
9,928
2,478
1,560
4,082
9,058
2,035
1,770
4,343
8,563
2,080
1,742
4,265
7,768
2,013
1,764
4,201
8,040
1,879
2,292
5,568
9,892
2,598
1,862
5,826
10,695
2,123
1,907
r
5,706
10,625
1,836
2,053
6,956
11,327
2,146
1,995
7,101
11,436
1,795
66,517
61,212
4,713
5,233
6,401
5,247
4,621
4,909
5,045
4,874
6,301
4,450
4,614
5,165
4,913
25,856
3,789
45,935
26,250
3,262
1,882
304
2,108
299
2,379
325
2,316
260
1,906
197
1,715
181
2,213
286
2,157
245
2,359
317
2,138
218
1,889
222
2,172
262
1,902
198
51,054
50,255
48,737
28,200
r
r
50,034
48,838
45,098
47,351
48,708
46,676
50,069
51,651
49,755
49,836
11,848
1,019
964
1,050
984
1,106
1,032
1,248
1,064
1,028
968
1,081
924
987
1,026
892
885
939
1,005
1,003
1,080
977
1,067
1,008
976
7,365
617
625
595
493
719
590
721
487
456
593
715
710
*5,544
413
428
607
529
493
531
309
306
308
419
441
487
46,676
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) .... thous. sh. tons..
Calcined
do ...
Imports crude gypsum .
do...
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
.
...
Building plasters:
Regular basecoat
.
All other (incl. Keene's cement)
Board products total
Lath
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecorated wallboard
5/16 mobile home board
1
14,630
44,543
7,773
do
5,603
do
379
rl
12,376
rl
(
409
33
36
34
40
31
31
30
33
36
34
32
36
do
do....
mil. sq. ft..
do
do...
do
121
283
217
161
18
13
19
13
18
13
20
15
14
11
15
13
16
13
17
12
19
16
18
17
16
15
16
14
16,865
125
444
218
1,166
6
27
17
1,203
5
29
17
1,258
6
31
18
1,365
5
31
20
1,108
5
27
17
1,149
5
29
16
1,260
7
31
17
1,068
6
24
14
1,239
6
29
18
1,353
6
34
22
1,102
4
26
19
1,164
5
29
17
do
do ...
do
do....
12,556
3,272
249
(5)
14,131
78
339
190
9,923
3,266
105
229
807
281
9
18
840
278
10
25
879
289
10
24
961
310
11
27
784
246
8
20
809
265
8
16
884
293
10
19
734
260
9
21
857
296
9
24
928
322
11
30
740
271
11
31
782
292
11
28
3
736
3
286
3
629
244
385
785
341
444
790
428
362
684
265
420
801
343
458
827
451
376
3
891
3
341
3
^"683
268
415
3
661
3
333
3
778
343
435
832
444
388
686
267
419
r
777
341
r
436
839
r
446
T
393
539
435
441
5,938
5937
606
4,227
1,104
5,007
5006
460
3,469
1,770
4109
4 108
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Production (finished fabric)
Cotton
Manma.de and silk fiber
Inventories held at end of period
Cotton
Manmade and silk fiber
Backlog of finished orders
Cotton
Manmade and silk fiber
COTTON
mil. linear yd..
. do
do
do....
do....
do
do....
do ...
do
Cotton (excluding linters):
Production:
Ginnings
fl
thous. running bales..
Crop estimate
thous net weight bales §.
Consumption
. . . . thous running bales
Stocks in the United States, total, end of period #
thous. running bales..
Domestic cotton total
do ...
On farms and in transit -.
do....
Public storage and compresses
do....
Consuming establishments
do....
See footnotes at end of tables.
8,065
3 107
4957
3
588
3
252
3
828
351
477
9,408
4838
4569
8,420
3531
4990
769
339
430
8,495
4577
4219
2
14,262
2
2
10,826
2
4
6140
6135
3
12,933
12,929
3,937
8,160
832
9,261
9260
2,502
5,927
14,629
336
788
346
442
679
346
333
200
602
248
354
795
353
442
694
363
331
4
582
3
825
3
340
3
641
268
373
777
332
445
660
343
317
4
1,312
639
251
388
867
356
451
696
365
331
485
800
346
454
681
347
334
4
4,599
4
7,840
450
769
339
430
660
342
318
528
728
312
416
760
375
385
4
9,873
11 122
831
550
786
338
448
809
441
368
44
11 122
487
443
456
3,027
3026
250
1,822
954
13,290
13,288
10,890
1,509
889
12,443
12,441
10,080
1,578
783
3
597
458
10,948
10,946
7,024
3,180
742
10,271
10270
4,451
5,070
749
3
475
435
446
9,261
9260
2,502
5,927
8,328
8326
1534
5,846
946
7,201
7200
1,054
1,509
1,037
831
3
427
15 507
278
2808
1,022
r3
531
382
3217
3216
P
2586
P
2585
P
P
1684
P
81
2,202
933
25
876
S-35
SURVEY OF CURRENT BUSINESS
September 1981
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES— Cont.
Cotton (excluding linters) —Continued
Exports
thous running bales
Price (farm), American upland f[ ........ cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16") average 10 markets
cents per lb..
^,649
6,127
63.1
3
61.6
Spindle activity (cotton system spindles):
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Consuming 100 percent cotton
do
bil..
do
Cotton cloth:
Cotton broadwoven goods over 12" in wjdth:
Production (qtrly )
mil sq yd
Orders, unfilled, end of period, compared with
avg. weekly production
,. no. weeks' prodInventories, end of period, compared with
avg. weekly production
no. weeks' prodRatio of stocks to unfilled orders (at cotton
Exports, raw cotton equiv. thous.
net-weight §
Imports, raw cotton equivalent
do....
do
Fiber stocks, producers', end of period:
Filament yarn (acetate)
....mil. lb..
Staple incl tow (rayon)
do
Noncellulosic fiber, except textile glass:
Staple incl tow
do
Textile glass fiber
do
Manmade fiber and silk broadwoven fabrics:
Production (qtrly ) total $
mil sq yd
Filament yard (100%) fabrics #
do
Chiefly rayon and/or acetate fabrics
do
71.5
540
2
74.9
402
0
80.1
393
2
81.4
237
1
75.3
436
5
77.6
541
5
80.9
669
1
76.9
2,352
6
71.4
733
8
72.3
498
0
73.2
458
O
72.3
320
O
71.1
70.2
"67.8
79.0
85.6
87.5
85.8
87.0
87.2
85.1
83.3
81.5
81.2
78.5
78.1
75.1
66.5
15.8
5.9
7.3
0.365
2.7
!5.6
5.8
7.4
0.372
2.7
15.6
5.7
4
9.0
5.6
13.7
13.8
16.0
6.2
4
8.2
0.329
4
3.4
16.1
6.2
7.6
0.378
3.2
15.7
6.2
7.3
0.367
3.2
18.0
13.2
4.2
5.4
15.9
6.0
102.4
0.388
42.0
5
5
Manmade fiber manufactures:
Exports, manmade fiber equivalent
mil. Ibs..
n Vh
'
H
Manufactured prods., apparel, furnishings do....
Imports, manmade fiber equivalent
do....
Cloth n pn '
do
Manufactured prods., apparel, furnishings do....
Apparel, total
do....
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
• • • mil lb .
Wool imoorts clean vield
n t f
(' rne»t rl s"i
do
do
Wool prices, raw, shorn, clean basis, delivered to
U.S. mills:
Domestic—Graded territory, 64's, staple 2-3/4"
and up
'
..cents per lb..
Australian, 64's, Type 62, duty-paid
do....
Wool broadwoven goods, exc. felts:
15.9
5.9
7.4
0.371
2.7
15.7
5.8
4
9.2
0.366
4
3.3
14.0
12.8
13.3
14.7
3.9
5.7
5.2
5.4
4.8
16.0
6.0
8.0
0.399
3.4
15.8
12.8
12.2
11.3
5
5
3.7
4.2
3.8
4.3
15.9
6.0
4
8.3
0.333
4
3.3
r
r4
3.2
r
5.2
5.5
0.29
0.30
0.32
0.30
0.35
0.34
0.40
0.40
0.40
0.33
0.35
0.38
0.38
627.7
505.5
540.2
567.0
34.6
49.2
44.3
41.3
48.0
49.4
42.0
44.7
38.4
43.2
40.9
38.7
34.8
74.9
28.2
68.4
35.8
66.9
35.7
57.4
30.9
56.8
30.8
61.3
316.6
549.4
308.5
443.3
77.5
101 0
689
102.0
61.4
1163
4,136.3
4,282.3
1,014.4
3,725.3
4,148.2
867.3
816.6
9594
183.3
1,001.5
1,143.9
217.7
979.2
1,083.0
236.9
11.8
35.6
18.4
27.2
111
348
18.4
27.2
15.8
29.3
379.8
311.1
152.5
289.3
287.0
104.1
3127
2854
149.7
289.3
287.0
104 1
292.6
318.1
108.8
r8
245 7
8
889 1
8
2,935.5
1,108.6
131.4
1360
1,574.3
159.0
1,112.6
218.3
2,862.2
1,017.2
138.3
125.9
1,596.7
174.5
1,107.2
214.1
0.581
0.576
0.574
64.83
35.76
24.59
28.82
58.05
27.53
18.20
30.21
45.53
10.87
7.73
34.67
29.30
12.51
57.83
13.11
9.34
44.72
36.66
16.95
58.78
28.13
18.71
30.30
58.01
11.34
8.59
46.67
41.06
17.68
1221
81239
8
1,377.2
«83.6
8
18013 7
1637
5
0.22
6
0.472
0.510
0.490
0.494
0.513
0.551
0.593
0.575
596.58
371.44
228.63
225.13
524.97
102.18
64.58
422.79
359.61
184.50
771.54
418.64
249.77
352.91
540.64
97.48
67.28
2
443.15
378.52
187.74
58.44
30.80
17.39
27.63
57.69
7.90
5.84
49.79
44.03
23.30
63.79
35.77
22.00
28.02
50.18
7.55
5.69
42.64
37.62
19.38
63.29
33.15
20.95
30.14
75.94
43.66
27.14
32.28
64.97
35.64
20.92
29.33
64.27
37.00
21.97
27.26
52.11
7.96
5.72
44.15
38.26
19.20
49.19
7.45
5.57
41.73
36.10
18.89
40.10
7.27
5.12
32.83
27.71
12.08
35.46
7.36
5.06
29.10
22.74
8.77
106.5
10.5
42.3
22.0
113.5
9.1
56.5
26.0
4
7.5
4
0.7
5.3
3.0
8.4
0.9
4.8
2.0
7.7
0.7
4.1
1.2
5
2.18
5
5
2.45
5
2.45
3.11
2.51
3.06
2.53
3.11
2.77
3.09
4
10.8
4
0.8
3.9
1.2
2.53
3.06
8.8 .
0.6
3.6
1.5
2.53
3.20
4
0.564
0.569
r
53.16
28.16
17.44
24.67
46.72
10.17
7.00
36.55
31.03
12.23
r
53.50
27.84
18.23
25.38
38.55
8.04
5.50
30.50
25.64
10.09
0.568
r
67.33
33.72
21.67
33.16
43.81
11.86
8.91
31.94
26.70
10.51
r
10.0
4
0.6
4.0
1.6
10.2
0.7
6.9
2.7
11.0
0.8
7.7
2.5
12.9
4
0.9
6.6
1.8
10.8
0.7
7.5
1.9
10.2
0.8
8.6
2.4
12.6
0.9
4.9
2.1
2.53
3.21
2.53
3.19
2.68
3.12
2.74
3.07
2.78
3.14
2.78
3.16
2.83
3.19
1,457
1,684
12,734 11,150
1,306
1,308
8,628 rr8,304
2,275
2,231
1,784
10,969
1,424
9,180
2,223
437
40.0
253.0
276.9
53.7
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly
mil. sq. yds..
APPAREL
Women's, misses', juniors' apparel cuttings:' @
Coats
thous units
Si its (inrl nant suits iumosuits)
Skirts
Blouses
See footnotes at end of tables.
do
do
thous. dozen..
2.4
13.4
4.8
5
0.20
264
993
1072
5
Spun yard (100%) fab., exc. blanketing #.. do....
Rayon and/ or acetate fabrics blends
do
Filament and spun yarn fabrics
do
Manmade fiber gray goods, owned by weaving
mills:
Ratio, stocks to unfilled orders, end of period
Prices, manufacturer to mfr., f.o.b. mill:
50/50 polyester/carded cotton printcloth, gray,
48", 3.90 yds./lb., 78x54-56
$ per yd..
15.9
5.9
7.3
0.397
3.4
16.1
6.1
10.0
0.398
4
4.1
4
996
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
mil lb
Textile glass fiber
3
16.2
6.4
102.0
0.393
41.7
18.9
bales
do....
Noncellulosic, except textile glass:
Yarn and monofilaments ....
7,975
15,816
76.1
1,206.0
1,082.2
17,394
169,697
25,275
63,648
24,932
19,199
168,383
21,140
73,608
25,781
1,628
12,903
1,533
4,896
1,803
2,213
13,177
1,957
6,576
2,216
1,962
11,953
2,357
6,876
2,246
1,926
11,993
1,954
6,972
2,349
1,589
9,785
1,391
6,432
2,117
1,163
9,267
1,229
5,904
1,912
1,280
10,580
1,371
7,824
2,225
1,136
12,246
1,404
9,096
2,413
1,143
14,094
1,411
9,540
2,489
2.83
3.23
SURVEY OF CURRENT BUSINESS
S-36
Unless otherwise stated in footnotes below, data
through 1976 and descriptive notes are as shown
in the 1977 edition of BUSINESS STATISTICS
1979
1980
Annual
September 1981
1981
1980
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
1044
1637
9,348
12 977
2527
24531
1294
1571
10,685
15990
2,634
24265
1320 rr!405
1 441
1666
1,689
!536
11,204 r1 1,366 10,977
13324 12
231
12241
2,550 r2,424
2,438
26 119 25 192 26405 30233
May
June
July
Aug.
TEXTILE PRODUCTS—Continued
APPAREL—Continued
Men's apparel cuttings: @
Suits
thous units
Coats (separate) dress and sport ...
... do....
Trousers (separate), dress
do....
Slacks (jean cut) casual
do
Shirts, dress and sport
thous. doz..
Hosiery shipments
thous doz pairs
15935
14329
124,688
208 368
38895
290 453
14471
17985
122,399
211 112
36662
286 379
817
1219
6,356
14094
2459
26811
1203
1428
11419
18249
2972
23770
1262
1739
11403
22061
3060
22754
1467
1810
12,567
18745
3,082
26371
1236
1506
10696
15982
2672
23 193
1 105
1299
7,917
13005
2 147
21689
1211
1484
9,025
15909
2535
23721
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (net) otrly total
mil $
U.S. Government
do....
Prime contract .... ....
do
Sales (net), receipts, or billings, qtrly, total
do....
US Government
do.
Backlog of orders, end of period #
do....
U S Government
do
Aircraft (complete) and parts
..
.... do.. .
Engines (aircraft) and parts
do....
Missiles, space vehicle systems, engines, propulsion units, and parts
mil. $..
Other related operations (conversions, modifications) products, services
mil $.
Aircraft (complete);
Shipments
do
Airframe weight
.... ..... .. thous lb..
Exports, commercial
mil. $..
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
thous..
Domestic
do....
Retail sales, total, not seasonally adj
do....
Domestics § .... ....
..
do....
Imports §
do....
Total seas adjusted at annual rate
mil
Domestics §
do....
Imports §
do
Retail inventories, end of mo., domestics:
Not seasonally adjusted
thous..
Seasonally adjusted §
do....
Inventory-retail sales ratio, domestics §
Exports (BuCensus), assembled cars
thous..
To Canada
do....
Imports (BuCensus), complete units
do....
From Canada total . .
do
Registrations f total new vehicles
do....
Imports, incl. domestically sponsored
do....
Trucks and buses:
Factory sales (from U.S. plants), total
thous..
Domestic
do
Retail sales, seasonally adjusted:t
Light-duty, up to 14,000 Ibs. GVW
do....
Medium-duty, 14,001-26,000 Ibs. GVW
do....
Heavy-duty, 26,001 Ibs. and over GVW
do....
Retail inventories, end of period, seasonally
adjusted!
thous..
Exports (BuCensus), assembled units
do....
Imports (BuCensus), including separate chassis
and bodies
thous..
Registrations^ new vehicles, excluding buses not
produced on truck chassis
thous
Truck trailers and chassis, complete (excludes
detachables), shipments
number..
Vans
do....
Trailer bodies (detachable), sold separately
do....
Trailer chassis (detachable), sold separately
do....
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all railroads
and private car lines (excludes rebuilt cars and
cars for export):
Shipments
number..
Equipment manufacturers
do....
New orders
do....
Equipment manufacturers
do .
Unfilled orders, end of period
do....
Equipment manufacturers
do
Freight cars (revenue), class 1 railroads (AAR): $
Number owned end of period
thous
Held for repairs, % of total owned
Capacity (carrying), total, end of mo
mil. tons..
Average per car
tons..
See footnotes at end of tables.
65208
28 107
59611
46,173
23229
78259
36 136
41286
9,198
70847
33222
68 162
57,605
26 141
95371
41 513
47857
11,655
17301
8 168
16764
14,405
6588
92224
38507
48039
12190
19355
10 197
18638
16,433
7201
95371
41513
47857
11,655
7387
8,855
7854
8,855
10725
10871
9877
10871
11 186 1
77327
6149
13 120 4
97327
8,250
4
8,419
4
3
1 041 3
7851
607
717 1 13050 1 191 1 1232 1 1 1955
8613
8752
8433
5571 10343
726
1,020
705
792
522
20 287
9,851
19826
19,502
7929
95,535
41438
49789
12,592
19
765
r
9,820
r
!9 244
16,110
r
7467
r
94,751
r
39 516
r
50 051
11,801
r
7447
5007
337
8,806
8,429
11,063
11776
10678 13553 15018
9216 10204
8037
1,049
751
963
14922
13305
r
9310
9239
916
746
413
2
518
2
706
497
209
82
5.9
23
801
602
199
104
82
22
1,675
1,616
3.3
49.85
45.96
250.1
410
690
207
1,486
1,583
23
7,678
10,559
8232
2,329
6,400
5,840
8,979
6581
2,398
432
400
773
542
230
89
6.4
25
299
280
686
487
199
88
66
22
529
487
672
486
186
84
6.2
22
675
623
848
664
183
92
6.8
24
560
517
698
530
169
92
67
25
490
452
649
472
178
88
63
25
439
407
648
470
178
96
7.0
25
475
432
764
544
220
104
75
29
620
565
963
719
244
103
77
26
645
589
751
534
218
80
58
23
670
608
734
524
210
79
57
22
712
652
724
518
206
75
52
22
1,691
1,667
2.6
779.16
59095
3,005.5
6770
10357
2,351
1,520
1,438
2.7
607.80
509.13
3,310.7
5948
8761
2,469
1,507
1,434
2.7
31.04
27.09
277.4
388
716
216
1,337
1,380
2.5
22.61
1878
230.0
218
704
215
1,373
1,393
2.7
41.64
35.48
252.8
419
702
212
1,456
1,392
2.5
58.39
51.09
276.9
66 1
747
196
1,513
1413
2.5
46.95
3978
271.5
633
730
187
1,520
1,438
2.7
40.46
3245
253.0
499
711
188
1,421
1,335
2.3
31.02
23.71
276.5
356
636
174
1,335
1,210
1.9
52.82
4631
209.0
295
675
200
1,216
1,090
1.7
60.36
5312
306.6
539
849
226
1,344
1,198
2.5
58.52
5265
282.3
556
752
228
1,472
1,313
2.7
63.81
5832
254.1
560
731
224
1,665
1,472
3.4
57.84
5187
282.4
598
747
223
107
88
84
73
134
120
186
168
155
140
149
132
140
126
135
118
167
146
162
142
159
139
180
161
1,963.5
92.3
175.7
177.1
7.4
15.2
156.5
8.1
16.9
147.9
9.0
15.3
143.1
7.1
14.3
151.7
6.3
12.9
145.7
6.6
13.6
153.0
8.6
13.5
156.5
6.4
12.4
149.0
6.2
13.8
150.8
8.7
14.5
157.3
6.3
11.6
152.1
5.2
11.5
141.9
6.3
12.0
164.1
6.1
12.8
574.0
190.32
578.0
15.42
522.7
13.33
524.1
13.21
554.2
14.94
570.5
14.08
590.5
14.08
575.2
12.96
548.5
19.65
547.7
20.01
541.5
16.21
546.4
17.81
559.0
1744
576.5
1238
523.9
974.13
1,133.28
108.95
90.89
89.86
110.44
77.93
62.17
88.30
46.10
70.72
63.66
72.87
68.24
64.05
3 472
2477
222
196
190
185
190
191
162
163
176
186
198
201
190
209,522
138 484
9,154
14,700
125,278
75,172
11,849
14,202
7,354
3882
665
820
8,493
5209
638
1,070
9,429
5832
1,244
1,053
10,268
6,139
1,227
1,443
9,116
5656
1,161
1,179
9,996
6230
1,175
1,083
9,186
5936
•614
1,074
8,311
4696
835
1332
9,490
5211
545
2,662
9,980
5751
1,009
885
"90,021
"83,931
119,091
"113 060
119,001
112 749
"85,920
"80,357
"45,390
"40 140
51,640
47 136
5,890
5,455
3,393
3393
r
73,848
67934
6,994
6,158
2,797
2531
69,432
62652
6,947
6,596
4,406
4406
66,007
59806
7,368
6,956
2,047
1847
59,378
53389
4,945
4,574
3,930
3230
57,655
51337
5,530
5,151
4,722
4722
51,640
47 136
5,336
5,064
2,147
2 147
48,451
44 219
4,709
4,401
2069
2069
45,121
41 197
5,162
4,718
1,559
1559
41,539
38059
4,245
3,792
1762
1737
38,972
35920
1217
8.0
94.47
7762
1 168
8.8
92.56
79.24
1 186
8.7
93.31
78.67
1 184
8.8
93.27
78.75
1 180
8.9
93.06
78.83
1 177
8.8
93.61
79.09
1 172
8.7
93.06
79.38
3
3,037
2741
2,861.0
15116
223.2
803.4
259.44
1
1,667
1 464
5
1 168
8.8
92.56
7924
1 166
8.1
92.47
79.32
1 163
80
92.35
7942
1 162
80
92.37
7949
1 146
80
91.07
7949
2
123
10 076 11327
5810
6710
829
1,072
1 105 1 145
4,143
3,779
1791
1791
35,588
32900
1 143
81
91.18
7975
2983
3781
3,442
2,864
1 155 1315
1315
927
32,321 26,267
29 744 23 809
1 137
77
9067
7978
1 130
77
9032
7992
408
2
89
SURVEY OF CURRENT BUSINESS
September 1981
S-37
FOOTNOTES FOR PAGES S-l THROUGH S-36
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary.
Estimated,
Corrected.
PageS-1
1. Estimates (corrected for systematic biases) for July-Sept.'and Oct.-Dec. 1981 based on
planned capital expenditures of business. Planned-capital expenditures for the year 1981
appear in the article on plant and equipment expenditures in this issue of the S URVEY.
t The estimates for plant and equipment expenditures have been revised. An article describing
that revision and containing revised estimates for 1947-77 begins on p. 24 of the Oct. 1980
SURVEY.
U Data for the individual durable and nondurable goods industries appear in the Mar.,
June, Sept., and Dec. issues of the SURVEY.
PageS-2
t Revised series. Estimates of personal income have been revised as part of the 1980
benchmark revision of the national income and product accounts. An article describing that
revision appears in the Dec. 1980 SURVEY. Data for 1976-79 are available in a special
supplement to the SURVEY. Pre-1976 data will be published in The National Income and
Product Accounts of the United States, 1929-76: Statistical Tables.
$ Includes inventory valuation and capital consumption adjustments.
# New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note "t"
for this page for information on historical data.
§ 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.
# Includes data for items not shown separately.
H Revised data for 1976-78 will be shown in the 1979 BUSINESS STATISTICS.
PageS-3
1. Based on data not seasonally adjusted.
II See note "U" for p. S-2.
# Includes data not shown separately.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for p. S-4. For retail see note "t" for p. S-10.
t See note "t" for p. S-4.
§ See note "t" for p. S-10.
@ See note "t" for p. S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
Page S-4
1. Based on data not seasonally adjusted.
$ Revised series. Data for both the manufacturing and retail sectors have been revised.
For manufacturing see note "t" for this page. For retail see note "t" for p. S-10.
t Revised series. Data revised back to 1958 to reflect (1) benchmarking of shipments and
inventories to the 1974, 1975, and 1976 Annual Surveys of Manufacturers, (2) recalculation
of new orders estimates, and (3) updating of the seasonal factors. A detailed description of
this revision and historical data appear in reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.7 (1958-1977), M3-1.8 (1967-1978), M3-1.9 (1977-1979),and M3-1.10
(1972-1980), available from the Bureau of the Census, Washington, D.C. 20233.
§ See note "f" for p. S-10.
@ See note "t" for p. S-9.
# New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
II Effective September 1981 SURVEY, data for Manufacturers' Export Sales and Orders of
Durable Goods have been discontinued due to both budgetary limitations and a continuing
deterioration in the quality of the data.
# Includes data for items not shown separately.
PageS-5
1. Based on data not seasonally adjusted.
t See note "t" for p. S-4.
# Includes data for items not shown separately.
$ 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.
H 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.
PageS-6
1. Based on unadjusted data.
2. This series has been discontinued.
$ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
U Data through 1977 are for urban wage earners and clerical workers; beginning Jan. 1978,
{here are two indexes, all wage earners and clerical workers, revised (CPI-W), and all urban
consumers (CPI-U). These indexes reflect improved pricing methods, updated expenditure
patterns, etc.; complete details are available from the Bureau of Labor Statistics, Washington, D.C. 20212.
# New series. Earlier data are available from The Bureau of Labor Statistics, Washington,
D.C. 20212.
f Beginning Jan. 1978, CPI-U.
PageS-7
I Annual average computed by BEA.
2. Indexes are no longer available.
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-22. All data subject to revision four months after original
publication.
t Revised series. Stage-of-processing producer price indexes have been revised back to
1976 to reflect updated industry input-output relationships and improved classification of
some products.
# Includes data for items not shown separately.
$ Effective Mar. 1980 SURVEY, data have been revised back to 1967 to reflect new seasonal
factors. Effective. Feb. 1981, data have been revised back to 1976 to reflect new seasonal
factors.
# New series. Data back to 1975 will be shown in the 1979 BUSINESS STATISTICS.
PageS-8
1. Computed from cumulative valuation total.
2. Data shown here are based on 1980 seasonal factors. Effective Jan. 1981, data are no
longer seasonally adjusted.
H Beginning Jan. 1979 SURVEY, monthly and annual data have been restated to reflect the
purchasing power of the dollar as measured by finished goods; comparable data for periods
prior to November 1977 will be shown in the 1979 BUSINESS STATISTICS.
$ Beginning Jan. 1978, based on CPI-U; see note "H" for p. S-6.
# Includes data for items not shown separately.
§ Data for July and Oct. 1980, and Jan., Apr., and July 1981 are for five weeks; other months
four weeks.
^
@ Data for new construction have been revised back to Jan. 1975 and are available from
the Bureau of the Census, Washington, D.C. 20233.
@@ Monthly revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
$$ Monthly data back to Jan. 1970 on the 1972=100 base will be shown in the 1979
BUSINESS STATISTICS.
Page S-9
1. Index as of Sept. 1,1981: building, 316.6; construction, 336.1.
U Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-15.
§ Data include guaranteed direct loans sold.
@ Monthly data back to 1972 on the 1972=100 base are available upon request.
t Effective April 1981 SURVEY, wholesale trade data have been revised for Jan. 1973-Jan.
1981. Revised data are available upon request.
Page S-10
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
t Effective April 1981 SURVEY, retail trade data have been revised for the years 1971-1980.
Effective .April 1979 SURVEY, data have been revised from 1967-1970. Revised data and a
summary of the changes are available from the Census Bureau, Washington, D.C. 20233.
# Includes data for items not shown separately.
Page S-l 1
\. AsofJulyl.
2. The accounts receivable series have been discontinued.
# Includes data for items not shown separately.
$ Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870. Revisions for July-Dec. 1976 appear in "Populations: Estimates of the Population
of the United States and Components of Change—1940-79," P-25 No. 802 (June 1979),
Bureau of the Census.
t Effective July 1981 SURVEY, data have been revised to reflect new benchmarks and new
seasonal adjustment factors. Effective July 1980 SURVEY, data have been revised based on
March 1979 benchmark levels and updated seasonal adjustment factors; they are not comparable with previously published data. Effective Oct. 1979 SURVEY, data have been revised
based on March 1978 benchmark levels and updated seasonal adjustment factors; effective
Oct. 1978 SURVEY, data have been revised to conform to the 1972 SIC and adjusted to March
1977 benchmark levels, therefore, data are not strictly comparable with earlier periods. See
"BLS Establishment Estimates Revised to March 1979 Benchmarks," in the July 1980 issue
of Employment and Earnings. See also Oct. 1979 and Oct. 1978 issues of Employment and
Earnings for similar articles.
II Effective with the Feb. 1981 SURVEY, the labor force series reflect new seasonal factors.
Data have been revised back to 1976; comparable monthly data for 1976-80 appear in the
Feb. 1981 issue of Employment and Earnings, U.S. Department of Labor, Bureau of Labor
Statistics.
# New series. The participation rate is the percent of the civilian noninstitutional population in the civilian labor force. The employment-population ratio is employment as a percent
of the total noninstitutional population, 16 years and over.
SURVEY OF CURRENT BUSINESS
S-38
PageS-12
t See corresponding note on p. S-11.
§ Effective October 1978 SURVEY, includes data formerly shown separately under ordnance and accessories.
@ Formerly shown as Electrical equipment and supplies.
H- Production and nonsupervisory workers.
$ 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.
PageS-13
t See note "t" on p. S-ll.
§ See note "§" on p. S-12.
@ See note "@" on p. S-12.
t See note "$" on p. S-12.
fl Production and nonsupervisory workers.
PageS-14
t See corresponding note on p. S-ll.
II Production and nonsupervisory workers.
$ Earnings in 1967 dollars reflect changes in purchasing power since 1967 by dividing by
Consumer Price Index; effective Mar. 1979 SURVEY, data reflect new seasonal factors for the
CPI.
§ Wages as of Sept. 1, 1981: Common, $13.27; Skilled, $17.31.
# Includes data for items not shown separately.
@ Insured unemployment (all programs) data include claims filed under extended duration provisions of regular State laws; amounts paid under these programs are excluded from
state benefits paid data.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.
PageS-15
1. Average for Dec.
2. Average for the year.
3. Daily average.
4. Beginning Jan. 1981, data are for top-rated only. Prior data cover a range of top-rated
and regional dealer closing rates.
# Includes data for items not shown separately.
§ For demand deposits, the term "adjusted" denotes demand deposits other than domestic commercial bank and U.S. Government, less cash items in process of collection; for
loans, exclusive of loans to and Federal funds transactions with domestic commercial banks
and include valuation reserves (individual loan items are shown gross; i.e. before deduction
of valuation reserves).
II Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ Data beginning Dec. 1978 reflect a reduction in the number of banks reporting (from
317 to 171) and changes in consolidation basis as well as content of several asset and liability
items. Unless otherwise stated, comparable data for earlier periods will be available later.
# New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available.
t Revised series. Data are now monthly averages and the coverage has been expanded.
Comparable data back to Dec. 1972 are available from the Federal Reserve Board, Washington, D.C. 20551.
$$ Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent. Data through Oct. 1979 show a maturity for 120-179 days. Beginning Nov. 1979, maturity is for 180 days.
@ Data through Oct. 1979 show a maturity for 150-179 days. Beginning Nov. 1979, maturity is for 180 days.
PageS-16
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
t Beginning Jan. 1979 SURVEY, the consumer credit group has been completely restructured;
comparable data for periods prior to Nov. 1977 are available from the Federal Reserve
Board, Washington, D.C. 20551.
# Includes data for items not shown separately.
§ The Department of Health, Education, and Welfare was redesignated as the Department of Health and Human Services by the Department of Education Organization Act.
PageS-17
1. Total for Jan.-May and Oct.-Dec.
2. Total for 11 months; production not available for Aug.
3. The money stock measures M3 and L have been revised back through 1978. The monthly
data prior to Aug. 1980, and 1978-1980 annuals will be available later.
§ Or increase in earmarked gold (—).
f The Federal Reserve has redefined the monetary aggregates. The redefinition was prompted
by the emergence in recent years of new monetary assets—for example, negotiable order of
withdrawal (NOW) accounts and money market mutual fund shares—and alterations in the
basic character of established monetary assets—for example, the growing similarity of and
substitution between the deposits of thrift institutions and those of commercial banks. Monthly
data from 1959 to d.ate are available from the Banking Section of the Division of Research
and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
$ Composition of the money stock measures is as follows:
Ml-A.—This measure is currency plus demand deposits at commercial banks. It is essentially the same as the old M1 except that it excludes demand deposits held by foreign commercial banks and official institutions.
Ml-B.—This equals Ml-A plus interest-earning checkable deposits at all depositary
institutions—namely NOW accounts, automatic transfer from savings (ATS) accounts, and
credit union share draft balances—as well as a small amount of demand deposits at thrift
institutions that cannot, using present data sources, be separated from interest-earning checkable
deposits.
September 1981
M2.—This measure adds to Ml-B overnight repurchase agreements (RP's) issued by commercial banks and certain overnight Eurodollars (those issued by Caribbean branches of
member banks) held by U.S. nonbank residents, money market mutual fund shares, and
savings and small-denomination time deposits (those issued in denominations of less than
$100,000) at all depositary institutions. Depositary institutions are commercial banks (including
U.S. agencies and branches of foreign banks, Edge Act corporations, and foreign investment
companies), mutual savings banks, savings and loan associations, and credit unions.
M3.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depositary institutions (including negotiable CD's) plus
term RP's issued by commercial banks and savings and loan associations.
L.—This broad measure of liquid assets equals M3 plus other liquid assets consisting of
other Eurodollar holdings of U.S. nonbank residents, bankers acceptances, commercial paper,
savings bonds, and marketable liquid Treasury obligations.
$$ Includes ATS and NOW balances at all institutions, credit-union share draft balances,
and demand deposits at mutual savings banks.
# Overnight (and continuing contract) RP's are those issued by commercial banks to the
nonbank public, and overnight Eurodollars are those issued by Caribbean branches of member
banks to U.S. nonbank customers.
@ 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.
PageS-18
1. Beginning Jan. 1981 data, U.S. Virgin Islands trade with foreign countries is included.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
$ For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
@ Data may not equal the sum of the geographic regions, or commodity groups and
principal commodities, because of revisions to the totals not reflected in the component
items.
@@ Effective Feb. 1979 SURVEY, seasonally adjusted data have been revised to reflect
sums of commodity components; comparable data for periods prior to 1977 will be shown in
the 1979 BUSINESS STATISTICS.
PageS-19
1. See note 1 for p. S-18.
# Includes data not shown separately.
§ Data may not equal the sum of geographic regions, or commodity groups and principal
commodities, because of revisions to the totals not reflected in the components.
@ See note "@@" for p. S-18.
PageS-20
1. See note 1 for p. S-18.
# Includes data not shown separately.
PageS-21
1. Domestic trunk operations only (averaging about 90 percent of domestic total).
2. Annual total; quarterly or monthly revisions are not available.
3. Before extraordinary and prior period items.
4. For month shown.
5. Beginning Jan. 1979, data are based on a new sample of freight shipments for 1976. The
new indexes have been linked to the old indexes to maintain comparability.
6. Beginning Jan. 1977, data are for unlinked passenger trips.
7. Beginning Jan. 1980 data, another company is included.
,
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
$ Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
II Average daily rent per room occupied, not scheduled rates.
@ Beginning Jan. 1979, data include visits to Badlands and Theo. Roosevelt National
Parks (formerly classified as recreational areas). Beginning Jan. 1980, data include visits to
Channel Islands (formerly classified as a monument). Beginning June 1980, data include
visits to Biscayne (formerly classified as a monument). Beginning Dec. 1980, data include
visits to Katmai (formerly classified as a monument).
PageS-22
1. Reported annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1979, data include chemically-treated fertilizer and sodium nitrate containing
over 16.3% nitrogen by weight; not strictly comparable with data shown for earlier periods.
4. Annual total for monthly data where available; not comparable with earlier periods.
5. See note "If" for this page.
6. Data beginning Jan. 1979 are for value of shipments and comprise three new product
categories. Comparable data for these new categories are not available prior to Jan. 1979.
However, the difference between total value of shipments and total factory sales (formerly
shown) is considered statistically insignificant.
7. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content
weight) and are not comparable with data shown for earlier periods.
8. Represents solutions containing ammonia and ammonia nitrate/urea .solutions; not
comparable with other published data.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
t Monthly revisions, back to 1975 for some commodities, will be shown in the 1979 BUSINESS STATISTICS.
@ Monthly revisions for Oct. 1976-Feb. 1978 will be shown in the 1979 BUSINESS STATISTICS.
11 Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods.
S-39
SURVEY OF CURRENT BUSINESS
September 1981
PageS-23
PageS-31
1. Includes Hawaii; not distributed to the months.
2. Reported annual total, including Hawaii; monthly data are preliminary and subject to
change.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
1. Reflects revisions not available by months.
2. Effective Jan. 1980, total stocks for bituminous coal and lignite exclude residential and
commercial stocks and are not comparable with data shown for earlier periods.
3. Data are available back to Oct. 1977.
4. Beginning Jan. 1979, data reflect coverage of additional processing facilities; not strictly
comparable with data shown for earlier periods.
5. Beginning 1981, data are for quarterly intervals.
# Includes data for items not shown separately.
@ Beginning July 1977, data include shipments to mobile home and travel trailer manufacturers (formerly excluded); they are not directly comparable with data for earlier periods.
# New series. Annual data prior to 1978 and monthly data prior to April 1979 are available upon request.
§ Includes nonmarketable catalyst coke.
II Includes small amounts of "other hydrocarbons and hydrogen refinery input," not shown
separately.
PageS-24
1. See note "@@" for this page.
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. Previous year's crop; new crop not reported until Oct. (beginning of new crop year).
6. Data are no longer available.
7. Sept. 1 estimate of the 1981 crop.
§ Excludes pearl barley.
# Bags of P) Ibs.
II Revised crop estimates for 1970-75 will be shown in the 1979 BUSINESS STATISTICS.
@ Monthly revisions, for some series back to 1976, will be shown in the 1979 BUSINESS
STATISTICS.
@@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
PageS-25
1. Average for 11 months; price not available for Dec.
2. Prices for Jan.-Mar. 1979 are estimated; actual price not available. Annual average for
1979 is based on actual price (Apr.-Dec.).
3. Average for nine months; index not available for Apr.-June.
§ Cases of 130 dozen.
If .Bags of il32.276 Ibs.
$ Monthly! revisions back to Jan. 1975 will be shown in the 1979 BUSINESS STATISTICS.
!
@ Monthl^ revisions back to 1976 will be shown in the 1979 BUSINESS STATISTICS.
# Effective! Apr. 1981 SURVEY, the wholesale price of smoked hams has been discontinued
and has beenj replaced with the comparable price index. Annual indexes prior to 1979 and
monthly indexes prior to Feb. 1980 are available upon request.
PageS-32
1. Less than 50 thousand barrels.
2. See note 4 for p. S-31.
3. Reported annual totals; revisions not allocated to the months.
4. See note "H" for this page.
5. Effective April 1981, price represents simple average of Platt's/Lundberg special retail
gasoline prices for 48 cities; not strictly comparable with prices shown for earlier periods
which represent weighted average price.
U Prices are mid-month, include taxes, and represent full service; comparable prices prior
to Jan. 1979 are not available.
# Includes data for items not shown separately.
# New series. See note "H" for this page.
PageS-33
1. Reported annual total; not distributed to the months.
2. Effective Jan. 1980, data are no longer available.
3. Average for 11 months; no price for Aug.
II Consumption by 525 daily newspapers reporting to the American Newspaper Publishers
Association.
§ Monthly data are averages of the 4-week periods ending on the Saturday nearest the end
of the month; annual data are as of Dec. 31.
$ Data are monthly or annual totals. Formerly weekly averages were shown.
PageS-26
PageS-34
1. Beginning Sept. 1979, estimated prices are derived from a different source and are not
comparable with prices shown for earlier periods. Annual average for 1979 represents Sept.-Dec.
2. Crop estimate for the year.
3. Reported annual total; not distributed to the months.
4. Sept. 1 estimate of the 1981 crop. •
§ Monthly! data reflect cumulative revisions for prior periods.
@ Producers' and warehouse stocks.
If Factory and warehouse stocks.
1. Reported annual total; revisions not allocated to the months.
2. Crop for the year.
3. Data cover five weeks; other months, four weeks.
4. Cumulative total for the 1980 crop.
5. Data are not available prior to Jan. 1980.
# New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
II Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
PageS-27
1. Annual total; monthly revisions are not available.
# New series.'Source: Bureau of Labor Statistics.
# Totals include data for types of lumber not shown separately.
PageS-28
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
3. Effective Jan. 1980, data are no longer available.
PageS-29
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Copper refinery production from domestic and foreign ores are not shown to avoid
disclosing information for individual firms. The source reports 79,039 metric tons of domestic ores and 14,623 metric tons of foreign ores for the period July-Sept. 1980.
PageS-35
1. Effective Jan. 1,1978, includes reexports, formerly excluded.
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. Monthly average.
6. Average for 11 months; no price for Oct.
7. Less than 500 bales.
8. Effective Aug. 1981 SURVEY, data are restated to represent millions of square yards.
§ Bales of 480 Ibs.
11 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).
# Includes data not shown separately.
@ Effective Apr. 1979 SURVEY, data include 600 additional firms; comparable data back
to Jan. 1977 (except for slacks, jean cut, casual, shown on p. S-36) will appear in the 1979
BUSINESS STATISTICS.
PageS-30
Page S-36
1. Data beginning Jan. 1978 exclude stocks of lead base bullion in transit and at refineries.
2. Less than 50 tons.
3. Data are for five weeks; other months 4 weeks.
4. For month shown.
5. Annual data; monthly revisions are not available.
6. Effective July 1980 SURVEY, data are revised and shown on a new base. Revised data
are not comparable to previously published data.
If Includes secondary smelters' lead stocks in refinery shapes and in copper-base scrap.
@ All data (except annual production figures) reflect GSA remelted zinc and zinc purchased for direct shipment.
$ Source for monthly data: American Bureau of Metal Statistics. Source for annual data:
Bureau of Mines.
# Includes data not shown separately.
f Revised series. The sample size has been restored to 100 firms and the base has been
changed to 1977=100.
# New series. These indexes are based on shipments of hydraulic and pneumatic products
reported by participating members of the National Fluid Power Association. Data back to
1959 are available upon request.
1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. Effective Jan. 1980, passenger vans previously reported as passenger cars are now included
with trucks.
4. Effective Jan. 1979, data are not directly comparable with data shown for earlier periods
because of the inclusion of Volkswagens produced in the U.S.
5. Monthly data for 1980 exclude exports for off-highway trucks; not strictly comparable
with data shown for other periods.
@ See note "@" p. S-35.
# 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 all other cars.
H Courtesy of R.L. Polk & Co.; republication prohibited. Because data for some states
are not available, month-to-month comparisons are not strictly valid.
$ Excludes railroad-owned private refrigerator cars and private line cars.
t Effective Feb. 1981 SURVEY, data have been restated to reflect new seasonal factors.
Annual and monthly data back to 1967 are available upon request.
BUSINESS STATISTICS 1979
BUSINESS STATISTICS 1979 is the 22nd biennial supplement to the monthly SURVEY OF CURRENT BUSINESS.
Annual data for most of the approximately 2,600 series are shown from 1947 to 1978. Quarterly series are shown
from 1968 to 1978, and monthly series from 1975 to 1978. For about 400 key series, a longer historical period of
monthly or quarterly data is shown in an appendix.
The 1979 edition, like its predecessors, contains detailed explanatory notes describing sources, definitions, methods
of compilation, revisions, and the time span for which the data are available. The explanatory notes reflect information available in October 1980. The footnotes in current issues of the SURVEY OF CURRENT BUSINESS provide
information that has become available since that time.
BUSINESS STATISTICS 1979 is available from the Superintendent of Documents, U.S. Government Printing
Office (GPO), Washington, B.C. 20402 at a price of $8.50. Order by stock number 003-010-00089-9; enclose check
or money order payable to Superintendent of Documents. BUSINESS STATISTICS 1979 may be ordered by
telephone (202) 783-3238 and charged to MasterCard, VISA, or deposit account at the Superintendent of Documents.
1974-79
Personal Income Statistics for
> U.S.
>
>
>
>
&
REGIONS
STATES
COUNTIES
SMSA's
BEA ECONOMIC
AREAS
Total Personal Income
By Type of Income
Labor and Proprietors' Income
By Industry Group
Per Capita Personal Income
When orderings refer to GPO stock number.
To order contact'
Superintendent of Documents
Government Printing Office
Washington, D C. 20230
Telephone desk order: (202) 783-3238
Vol.
Area/title
1
Summary
New En land
g
Region
MideastRegion
Great Lakes
Plains Region
Southeast Region
Southwest Region
Rocky Mountain Region
Far West Region, including Alaska & Hawaii
2
3
4
5
6
7
8
9 ...'
GPO stock number
003-010-00080-5
003-010-00081-3
003-010-00082-1
003-010-00083-0
.003-010-00084-8
003-010-00085-6
.003-010-00086-4
003-010-00087-2
...003-010-00088-1
Price
$6.50
3.25
4.50
5.50
6.00
7.50
5.00
4.50
4.50
TO
'. . .
General:
SECTIONS
•:•'•
, -.
Business indicators. , , . , , . ' . . . . . ' . . / . • , , , " , . . . , ' , , ; 1-6
Commodity p r i c e s , . . . . . . , , , , - . . * , , . , . v . . . . . . . . 6-8
Construction and real estate, . . ; . , , „ . . . . , , „ , , 8,9
Domestic t r a d e , , . . . , . ' , . . . » ' . „ . . , . • , . . , . , . , , . , . . ' 9-11
Labor force, employment, and earnings...
11-15
Finance,.....,
, . . . . . . . . ; . . . v . . . . . . . . . . 15-18
Foreign trade of the United States;..;..•..,,,. 18-20
Transportation and communication , • . . , , . , , . J..,
21
Industry:
Chemicals and allied products.......
Electric power and gas..,
Food and kindred products; tobacco.
Leather and products , . . , , , . , , . . . .
23
.,.; 23-26
....
27
Lumber and products.......
,...........
Metals and manufactures. , ; „ - . ' . , ; , , , , ' . . . • , , , , . , .
Petroleum, coal, and products................
Pulp, paper, and paper products;.............
27,28
28—SI
31,32
32,33
Rubber and rubber products.......... ; ,,. ^ . . .
33
Stone* clay, and glass products.
;
34
Textile products;
. . . . . . . > . , 34-36
Transportation e q u i p m e n t . . . . . , . . . . . . , , . . . , .
36
SERIES
. ;.-;,
Advertising.......... - . - * . . . . . . . . . ^
9,14
Aerospace v e h i c l e s . . . . . . . . . . . . . . . . . . . . . . . . . . . .
36
Agricultural loans..,,.........;..,...
15
Air carrier operations. . * . , . . . . . . . . , . . . . . . . , . , ,
21
Air conditioners ( r o o m ) « . , • . , . . . , , . « . . , ; , , . . , ' . ; . '
31
Aircraft and parts.
..........
...
.. 5,36
Alcohol, denatured and e t h y l , , . . . . . . . . . . . . . . . . .
22
Alcoholic beverages.
9,23
Aluminum..».,..,.,».....,...... . »„",'. .
29
Apparel.
>
,
2-7,9-13,35,36
Asphalt.
, . , . . . , , , ' , . „ . , . . , , . . , . , , . 31,32
Automobiles, e t c . . . . . . . . . . . . . . " 2-7,9,10,17,19f 20,36
Banking.,....»,
.."' '
'•-..'.
'
15
Barley., . . . . . , . , . . . * . , ] . . '.*,,'.'.'.'...'., ] ' . . . . . , . ! , - ' 24
Battery shipments.
;,»,...
30
25
Beef and veal
'...,'....,....,'.*..»...•...'
Beverages.. /
.....
7,9,19, 20,213
Blast furnaces, steel mills . . . , . , . . ; , , . . . . . » . . . . 4 f 5
Bonds, issued, prices, sales, y i e l d s . . . . . . . . . . . . . . . 17,18
Brass and bronze.
29
• Brick. > , / . . • . . . v. „ . . . , „ , , . ; , ; . . . . . , . . , . . • > . , - , . .
34
2-5,9
Building and construction materials,
Building costs.. * . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
Building permits, . » » » , , . „ . , , , , , . . , • . , ' , ; , . . , . ; • ,
8
Business incorporations (new), failures
6
Business sales and inventories..................
3,4'
Butter.
.,'.'
23
Cattle and calves,
25
Cement and concrete p r o d u c t s . . , » , , . . . . . . . . . . 7,9,34
Cereal and bakery products.. . , „ • » . , ,
t
Chain-store sales, firms with 11 or more stores. . . 10,11
.Cheese.. : .;,.. . ' . . ; . . . , . - . . , , : . , , . . , „ ; . _ . , ;-V;./
23 .
Chemicals..........,
3-5,7,12,13,17,19,20,22
Cigarettes and cigars...
.,.,,;..».......
26
Clay products.
' . , , . , , , . . ; . , . . , . , , . . . ' . . . . 3,4,7,34
Coal.,....,......,.....,,;;,.,......
3,7,19,31
Cocoa.,
.-.'.',
,;, 20,25
Coffee...,,..;...„..:, : . . . , . . . . . > • . . , _ . , , . , ; . . . . . 20,25
Coke..........,,/.,.......
31
Combustion, atmosphere, heating equipment.....
30
C o m m u n i c a t i o n . . . , . . . . . , . , , , . . . . . , . , . . . . . . 1,17,21
Confectionery, s a l e s , , . . . . , . . . . . . . . » . . . , ; . . , , ,
25
Construction:
Contracts..................................
8
Costs.
,..;,,..,.,.,.,,
9
Employment, unemployment, hours, earnings.. 11-14
Highways and s t r e e t s . . , , . . , , . . , » . . , , , , , . » , .
8
Housing starts,
,... ^....... i . . .
8
Materials output indexes... . * , , » , . . . . . . . . . . .
9
New construction put in place. . . , * . . . . . . . . . . .
8
Consumer credit.......
.....,...,,,,...,,.
16
Consumer goods output, i n d e x , . . , » . . . . , . . , . . . ,
2
Consumer Price Index..»,,
6
C o p p e r . , , , , , , , , , , » . , , . •..'..;...,.;...;.....,«
29
Corn..
24
Cost of living (see Consumer Price I n d e x ) . . . . . . .
6
Cotton, raw and m a n u f a c t u r e s . . . . . , , . . , . . 6,19,34,35
Cottonseed oil
.......
26
Credit, short- and intermediate-term............
16
Crops..,....
6,24,26,34
Crude o i l . . . . . . , , , . . . . , . ,
3,31
Currency in circulation...........
,,...
.
17
Dairy p r o d u c t s , . , , . . . ' . , ; . . . . ; , . . . . • ; „ . , , . . 6,7,23,24
Debt, U.S. Government,
,..,..
16
Deflator, PCE
.
,,
2
Department stores, sales, i n v e n t o r i e s . , , . . , . , , , , , 10,11
Deposits, b a n k , . , . , , , , , . ; . , . . . . , . , , , , , . . . . , , . 15,17
Dishwashers.......................,,'
....
31
Disposition of personal i n c o m e . . . . . . . . . . 1 . ; , . » *
2
Disputes, industrial,,..,.,
.,,;....,
15
Distilled spirits
,, ,
23
Dividend p a y m e n t s . . . . , ; . . • . . . . . , . • . . • . . - . * . . ' ,
2,17
Drugstores, s a l e s . . . . . ,
. . , , . , . . . » 10,11
Be
Earnings, weekly and hourly.
13,14
Eating and drinking places
; . , . , . . , . . , . , 10,11
Eggs and poultry
...».,.,.,.
,
6,7,25
Electric p o w e r . . . . . . . . . . . . .
. . . . . . . . . . . . . 3,7,23
Electrical machinery and equipment.
3-5,
7,12,13,17,19,20,30,31
Employee-hours, aggregate, and indexes
13
Employment........,...,..,...,,.,...
11,12
Explosives....
....,..,,,..,..
22
Exports (see also individual commodities)..... 1,18,19
Failures, industrial and commercial
6
Farm p r i c e s , . , , , , , , , , , . . . . . » . . . . . . , , '
6,7
Farm w a g e s . . . . . . , , . . . . , , ' . . .
14
Fats and o i l s . . . . . . . . . . . . . . . . . . . . . . . , . . . . 7,19,20,26
Federal Government
finance,..........
i
16
Federal Reserve banks, condition of
15
Federal Reserve member banks........ v . . . . 1 . . .
15
Fertilizers,.
,,,....,.....,,
7,22
Fish..........
25
Flooring, h a r d w o o d . . , . . . , , . , . . » , . . . . , . . . , . . , .
28
Flour, w h e a t . . . . . . . . . . , , . . , , , . , . , ; . , . . ..
25
Food products;.......;, 2-7,9,12,13,17,19,20,23-26
Foreign trade (see also individual commod.)..... 18-20
Freight cars (equipment)
...............
36
Fruits and vegetables...,.,,...,.,,.
, . . 6,7
Fuel o i l , . , . . , . , , . . . . , , , . . , . „ ; . . , , . ,
6,31,32
Fuels . . , , . . , , ,
. . . . . . . . 3,6,7,19,20,31,32
Furnaces, , , . . . . . ; . . . . . , . . . . . . . . . * . . . . . . . . . , .
31
F u r n i t u r e . . . , . . . . , , . , / , . . , . . . , . , . . . . . . 3,7,10,12,13
Gas, output, prices, sales, revenues.......... 3*6,7,23
Gasoline,..... ^
.;,;..
,..,;.....
32
Glass and products, V.
..»,....
34
Glycerin..,.
....,.;....,
.
22
Gold...»..,.;,,,...,.,,,...........,......,.,.
17
Grains and products
6,7,19,24,25
Grocery s t o r e s . , . . . . . . . . ^ . . , . , , , . , . . , . , . .
10,11
Gypsum and p r o d u c t s . , . . , , , . . . , . . . . , . ; . . . . , . . 7,34
Hardware stores.,. . . . , , , . * , . » . . . , . . , . , . , » . . . ,
10
Heating equipment,,....., t . . . . . . , ,
7,30
Help-wanted advertising i n d e x . . . , , . . . . . , , » , » , ,
14
Hides and s k i n s , . . . . , • . , . . ' . ' . > , . . . * . . '
7,27
Highways and s t r e e t s . . . . . . . . , . . . ; . . , . . ,\
.
8
Hogs..,..,..,,,
.,.,.,..,...,
25
Home electronic equipment,,..,,..,;.
7
Home Loan banks, outstanding advances........
9
Home mortgages,,
,
9
Hosiery,..,,.,,..,,..,,...-,,...,...,.....,
36
Hotels and m o t o r - h o t e l s . . . . , . . . . . , . . . , . . . . , » . .
21
Hours, average w e e k l y . . . . . . , . ; , . . , , % . . . . . . . . . 12,13
Housefurnishings.,«.,.;;..,.,,.,..»..,... 2,4-6,9,10
Household appliances, radios, and television sets.
2,
7,10,30
Housing starts and p e r m i t s , , . , . . . . , . " . . . . . ' . . . . ;
8
Imports (see also individual commodities)
1,19,20
Income, personal,...., . . * . . . . . . , , , . . . . , , , , . . .
2
Income and employment tax receipts.
16
Industrial production indexes:
By i n d u s t r y . , « , . . , . . . . . , .
.....,....,,..
3
By market grouping..»....,
2,3
Installment c r e d i t . . . . . . . . , . . . . . . . . . . . . . . . . . . . . 11,16
Instruments and related products........... 3,4,12,13
Insurance, life.. * . . . . . . . . « , . . , , , . , . , 1 . , . , » , . , .
16
Interest and money rates.... < ; . , . , , . . . . . .
*.
15
International transactions of the United States...
1
Inventories, manufacturers* and trade........ 3-5,9,10
Inventory-sales ratios,..... / . . . . ; , , . . . . . . . . . . ,
4
Iron and s t e e l . . . . . . . . . , . . . . , , 3,7,9,17,19,20,28,29
Labor advertising index, stoppages, turnover..... 14,15
Labor f o r c e . . . . . . . . . . . . 4 , . . . . . . . , , , . , . .
11
Lamb and m u t t o n . , . . . . , , , . . » » . « , . . . . , . . . . . . .
25
Lead..,
29,30
Leather and products,
3,7,12,13,27
Life i n s u r a n c e . » , . , . . . . , . . . . • • • , . . . . . . . . . . . . . . . . .
16
Livestock
'.
.....,...,,..
. . . . . 6,7,25
Loans, real estate, agricultural, bank (see also
Consumer credit).
9,15
Lubricants..,.......',.,,,,.,.,.,.,
31,32
Lumber and p r o d u c t s . , . . . . . . , . . , ; 3,7,9,12,13,27,28
Machine tools.
30
Machinery,
3-5,7,12,13,17,19,20,30
Mail order houses, s a l e s . . . . . . . . . . , ,
......
10
Manufacturers* sales (or shipments), inventories,
orders.
....,,..
4,5
Manufacturing employment, unemployment, production workers, hours, earnings.
11—14
Manufacturing production indexes,
2,3
Margarine.,..,,...,.,.,....
26
Meat animals and meats
7,19,20,25
Medical care
....,.»,......,.,..,.,..
6
Metals.,.
......
3-5,7,12,13,17,19,20,28-31
Milk..
24
Mining and minerals
1-3,7,11-14,17
Monetary statistics
i
17
Money and interest rates.
15
Money supply..,...,.,........;....,.
17
Mortgage applications, loans, rates.
9,15,16
Motor carriers...,,»
21
Motor vehicles.
, . . . , . . , 2-4,6,10,17,19,20,36
National parks, visits,
».....,
21
Newsprint
20,33
New York Stock Exchange, selected d a t a . . . . . . . .
18
Nonferrous m e t a l s , . . . . . . . . . . , , 3,5,7,17,19,20* 29,30
Oats.
..........
24
Oils and f a t s , . . . . . . . . . . . . . . . . . . . . . . " , [., * 7,19,20 26
Orders, new and unfilled, manufacturers'.,....»
* 5
Outlays, U.gL Government.,.......,........,.,
16
Paint and paint materials,.;
; , . , , . . . . . . 7 22
Paper and products and p u l p . . , . . . , , . . . . . . , , [ ] 3-5,
.
7,12,13,17,20,32,33
w .
Parity
ratio..,,..,,..
.,........,,,...
6
Passenger cars.
2-4,6,7,9,10,17,' 19,20,36
Passports issued..,,,...,
........*..,,,,
21
Personal consumption expenditures....»»...,»..
2
Personal income.,
2
Personal outlays.»..,'.
,......., ,....,*
2
Petroleum and products.... 3-7,12,13,17,19,20* 31,3$
jrigiron.....................................
28
Plant and equipment expenditures..»,,...,,....
1
Plastics and resin m a t e r i a l s . . . . . . , . . « , . . . . . . , . .
22
Population, , „ , . , . , . , . , »
,,
1J.
Pork.
..."
.* 25
Poultry and eggs.
......,..,,.
,6,7,25
Price, deflator, implicit (PCE),...,......,....,,
2
Prices (see also individual commodities). , . ; . . . * . 6-8
Printing and p u b l i s h i n g , . . . . . . . . . , . . . . . . . , , . 3,12,13
Private sector employment, hours, earnings!
Il~14
Producer Price Indexes,
.,.,..,.;,
.,
7,8
Profits, corporate,.......,»,,.'«'.,, .. .....
17
Public utilities
I~$, $, 17,18,23
Pulp and pulp wood..... / . . , . .
,
32
Purchasing power of the dollar*,,,.. + , . . . . . . , . ,
8
Radio and t e l e v i s i o n , , , . , , . . , . . . . . . . . . . . , , . . 2,10,30
Rattroads,
..1*14,18,21,36
Ranges,,....,,.,,,....,.,,..,...........,.,.
31
Rayon and acetate,...... f . . , , ; . . , . . . . . , . . ; , , .
35
Real e s t a t e . . , . , . . . . , . . . . . . , . . . . ;
4 ,\ , 9,15,16
Receipts, U.S. Government..,,......,.......,.
16
Refrigerators..........
31
Registrations (new vehicles)
....,., ^.......
36
Rent ( h o u s i n g ) . . . . . . . , . , . . . . , . , . . . . . . . , . . ; , . /
6
Retail t r a d e . . . . . . . . . . . ; . .
3,4,6,10-14,16
Rice
...,,.......,......,..,.,,...,,....
24
Rubber and products (incl, plastics). 3-5,7,12,13,20,33
Saving, personal
..,,....,..„..,......,,.
2
Savings and loan assoc., new mortgage loans.....
9
Savings deposits
.,,,.,....,
.V,"......
15
Securities issued......;
...
.,,...»,,.».
17
Security markets.
^ . . . , , . . . . , . , , , 17,18
Services,
'....,.. 6t 12-14
Sheep and l a m b s , . . . . , . . . . , . . , . . . . ;
25
Shoes and other f o o t w e a r , , , . . . . , , . » . . , . , . 7,10,11,27
Silver.
,
i,,..,...,»,.
.,,.,
17
Soybean o i l . . , . . , . . . , , . . . . . , . , . .
..
26
Spindle activity, cotton.. . . , . . , « . . , , „ « . « . , , » » .
35
Steel (raw) and steel manufactures.;,.....,, 20,28,29
Steel scrap
,
i,
28
Stock market customer financing i . . , , . , , , . . . . . »
17
Stock prices, yields, sales, etc.
18
Stone, clay, glass products.,,,...,. 3,4,7,12,13,17,34
Sugar
,...„;.,..'......*.'
20,26
Sulfur.
22
Sulfuric acid
22
Superphosphate.
22
Tea imports,..,,,.«....V...........;
26
Itelephone and telegraph carriers.....,-«.,.,..'.-..
21
Television and radio.
. . . , , . . / , , , , , . , . , , 2,10,30
Textiles and products
3-5,7,12,13,17,19,20, 34-36
Tin.......-........,.......... i....;.....,.,.
30
Tires and inner t u b e s . , . , . . , . . , , . , , , . , , . . . . . . . 7,33
Tobacco and manufactures,.
. . . . . . . 3-6,12,13,26
Tractors.
...,.,.,,...,..,.,,,.,
30
Trade (retail and w h o l e s a l e ) . , . , . , . , , . . . . . 3,4,6,9-14
Transit lines, u r b a n , . , . . , , . . . . , . . , , .
......
21
Transportation,...,
1,6,12-14,17,18,21
Transportation equipment,,. 2-5,7,12,13,17,19,20,36
Travel.
;.,.....;.....
21
Truck trailers.
,
36
Trucks (industrial and other)
30,36
Unemployment and i n s u r a n c e . , , . , . . . . . . , . , . , . . 11,14
U.S. Government bonds......
1&-18
U.S. Government finance.«.... *.......v .*,'...,..
16
U.S. International transactions
...
1
Utilities.
. . , » . . . . . . 1,3,6,8,17,18,23
Vacuum cleaners, . . . * . , . . , . . . ' . . . > . , , . ' . . . . . ' . , ,
31
Variety stores.,.
. , . . . . . . , . , . 10,11
Vegetable oils.
. , . . . , , . . . . . . . . . . , . 19,20,26
Vegetables and f r u i t s , . . , . , , . , » , , . . » . . . . . . « . . . .
6,7
Veterans* unemployment i n s u r a n c e , , , . . . . , , , . , .
14
Wages and salaries.
' . . . . . . .w. *
2,13,14
Washers and dryers..... — . . , . . , , , » * » . , , . , . . .
31
Water heaters.,,.
...,
:.»..,
fj
Wheat and wheat
flour..........
. . . . , . , . , , 24,25
Wholesale trade,
. . . , . , . . , . . , . , 3,4,6,9,12-14
Woodpulp
...,........,..,,...
32
Wool and wool manufactures,..................
35
Zinc.
30
UNITED STATES
GOVERNMENT PRINTING OF
PUBLIC D O C U M E N T S
DEPARTMEN"
WASHINGTON, D.C. 2O4O2
OFFICIAL BUSINESS
@FedFRASER