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SEPTEMBER 1982 / VOLUME 62 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
THE BUSINESS SITUATION
1
National Income and Products Accounts Tables
9
Reconciliation and Other Special Tables
20
Federal Budget Developments
21
Accounting for Regional Differences in Per Capita Personal
Income Growth, 1929-79
24
Plant and Equipment Expenditures, the Four Quarters of 1982
35
U.S. Department of Commerce
Malcolm Baldrige / Secretary
Robert G. Dederick / Under Secretary
for Economic Affairs
Bureau of Economic Analysis
George Jaszi / Director
Allan H. Young / Deputy Director
Capital Expenditures by Majority-Owned Foreign Affiliates of U.S.
Companies, 1982 and 1983
U.S. International Transactions, Second Quarter 1982
42
48
Carol S. Carson / Editor-in-Chief,
Survey of Current Business
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Patti A. Trujillo
Staff Contributors to This Issue: Leo M. Bernstein, Douglas R. Fox, Howard L. Friedenberg,
Daniel H. Garnick, Bruce T. Grimm, Eric R.
Johnson, Ralph Kozlow, Russell C. Krueger,
John S. Landefeld, Daniel J. Larkins, Eugene P.
Seskin, Joseph C. Wakefield, John T. Woodward.
CURRENT BUSINESS STATISTICS
General
SI
Industry
S19
Footnotes
S33
Subject Index (.Inside Back Cover)
SURVEY OF CURRENT BUSINESS. Published monthly by the Bureau
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the BUSINESS SITUATION
iLCONOMIC performance was lackluster in the third quarter. BEA's
composite index of coincident indicators—which reflects the movements of
nonagricultural employment, real
personal income less transfer payments, industrial production, and real
manufacturing and trade sales—fell
at monthly rates of 0.3 percent in
July and 0.6 percent in August. The
index had fallen in 2 of the 3 months
of the second quarter, and for the
quarter as a whole was down 0.7 percent. Real GNP also showed little
strength. On a revised basis, it increased 2 percent at an annual rate
in the second quarter and, on the
basis of information available in midSeptember, it appears to have increased again in the thirdl quarter,
but less than in the second.
• Real personal consumption expenditures (PCE) increased less than
1 percent at an annual rate in the
third quarter. Weakness was widespread and particularly apparent in
durables, where each major category
declined. The weakness occurred despite sizable increases in real disposable personal income in both the
1. The 75-day revision of the second-quarter estimates (see table 4) was larger than usual. The revisions centered in the foreign military sales and direct
investment income components of net exports and in
change in business inventories. The revision in the
former reflected new information; in the latter, it reflected revised data on wholesale inventories.
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
fixed investment, the same data for autos and trucks
as for PCE, July construction put in place, July manufacturers' 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.
second and third quarters (see the following discussion of
"Personal
Income").
• Although information on fixed investment other than residential construction is sketchy, it is clear that
fixed investment registered a substantial drop in the third quarter. In producers' durable equipment, there
were large declines in purchases of
trucks, aircraft, and computers. Further weakening was evident in purchases of equipment—such as agricultural machinery, construction machinery, and mining and oil field
equipment—used in industries that
have been hard hit in the recession.
Nonresidential structures declined,
largely due to a further decline in oil
and gas well drilling. Other components remained flat. The article on
the quarterly BEA plant and equipment expenditures survey, which appears later in this issue, throws additional light on business fixed investment.
• Residential investment again registered a moderate increase. As described in the following discussion of
"Housing and Mortgage Markets,"
much of the third-quarter increase reflected activity on government-assisted multifamily projects. Housing
starts and financial conditions suggest
that the long slide in residential investment is over.
• Little information is yet available
about the other components of final
sales—net exports and government
purchases. It appears that together
they contributed a small plus to the
third-quarter change in final sales.
The total of these sales appears to
have shown little change in the third
quarter.
• For the change in business inventories, reasonably complete information is available only for motor vehicles (see the following discussion of
"Motor Vehicles"). Accumulation of
motor vehicle inventories was at a
slightly higher rate in the third quarter than in the second, so that the
contribution to the change in2 GNP
was a plus—about $2 billion. This
contribution contrasts sharply with
that in the second quarter, when—as
motor vehicle inventories swung
sharply from a substantial decumulation in the first quarter to accumulation in the second—these inventories
added about $12 fc billion.
Prices.—After increasing at annual
rates of only about 4% percent in the
first half of the year, the GNP fixedweighted price index accelerated
about 2 percentage points in the third
quarter. A substantial part of the acceleration was in the prices of PCE.
PCE energy prices were the single
most important factor. After a 13%percent decline in the second quarter,
they were up in the third, reflecting
gasoline price increases late in the
second quarter and early in the third.
Food prices decelerated from a 4-percent increase registered in the second
quarter, and prices for PCE other
than food and energy accelerated
from a 6-percent increase, mainly due
to an acceleration of residential rents.
Personal Income
Personal income increased $49% billion—the largest increase in recent
quarters (table 1). The step-up in the
third quarter was largely due to
transfer payments. These payments
included a $12 billion cost-of-living increase under several Federal transfer
payment programs; about $11 billion
was in social security benefits. A
smaller increase than in the second
quarter in unemployment insurance
benefits was due to a decline in payments under extended benefit programs. The increase in wage and
salary disbursements was again weak.
In the commodity-producing industries, disbursements declined again; in
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.
1
SURVEY OF CURRENT BUSINESS
Table 1.—Personal Income and Its Disposition:
Change From Preceding Quarter
[Billions of dollars; based on seasonally adjusted annual rates]
1981
IV
1982
I
II
III*
Wage and salary disbursements...
18.9
10.4
15.0
17.2
Manufacturing
Other commodity-producing
Distributive
Services
Government and government
enterprises
-4.2
2.6
18
10.0
-3.6
.2
31
6.7
.5
-1.2
40
8.1
-.1
-1.1
36
10.6
4.1
3.5
4.3
-7.7
.9
2.5
25
-.9
67
-1.0
5
1.4
10
1.5
114
88
123
103
8.6
-3.4
Proprietors' income
Farm
Nonfarm
Personal interest income
Transfer payments
5.9
3.8
10.7
15.8
Other income
4.7
4.2
4.0
4.8
.9
3.6
.7
1.3
36.4
15.9
42.1
49.4
-49
147
9.8
2
103
10.6
77
48
12.5
46
185
13.9
41.4
15.7
34.4
54.1
Less: Personal outlays
17.0
35.1
29.2
40.8
Equals* Personal saving
242
19.4
5.2
134
.5
.4
2.4
12.0
Less: Personal contributions for
social insurance
Personal income
Less: Personal tax and nontax
payments
Impact of legislation
Other
Equals: Disposable
income
personal
Addenda: Special factors in personal income—
Cost-of-living increases in
Federal transfer payments ....
Social security base and rate
changes (in personal contributions for social insurance) .
Federal pay raise
32
6.2
.3
'Projected.
the third quarter, as in the second,
the decline centered in mining. An acceleration in government and government enterprise disbursements was
due to the second of three annual
lump-sum payments to Postal Service
employees under a collective-bargaining agreement signed last year. Personal interest income increased a
little less than in the second quarter,
reflecting lower interest rates.
In the third quarter, as in the previous three quarters, the impacts of
changes in legislation on personal
taxes helped insulate disposable personal income from the weakness in
personal income. These impacts are
detailed in table 2. In the fourth quarter of 1981, withheld income taxes
were reduced $15 billion under the
Economic Recovery Tax Act of 1981
(ERTA). In the first quarter, a $10 &
billion reduction included the impact
of the ERTA rate changes on declarations and net settlements ($5 billion),
and temporary reductions under
ERTA ($1 billion for a windfall profit
tax credit), and under the Crude Oil
Windfall Profit Tax Act of 1980 ($3
billion for the partial exclusion of in-
terest and dividends). An additional
ERTA provision—the authorization of
all savers' certificates—temporarily
reduced declarations and net settlements $1 billion in the second quarter. In the third quarter, the second
rate reduction on withheld income
taxes under ERTA, currently estimated at $25 billion, became effective. Its
impact on the change in personal
taxes was partly offset by the termination of the temporary reductions.
Net, the impact of this legislation
held down personal taxes about $20
billion in the third quarter.
Personal taxes declined in the third
quarter, even though the continuing
effect of the increase in the tax base
partly offset legislative impact. Accordingly, disposable personal income
increased more than did personal
income. The percentage increase in
disposable income, 10% percent at an
annual rate, was substantially larger
than in other recent quarters. However, the increase in prices of PCE as
measured by the implicit price deflator was substantial—about 8 percent,
the largest since the recession began.
As a result, the increase in real disposable income was held to 2% percent, compared with a second-quarter
increase of 3 percent.
The personal saving rate appears to
have moved up several tenths of a
percentage point from 6.7 percent in
the second quarter. The rate, although down from 7.5 percent in the
fourth quarter of 1981, has averaged
higher this year than in any of the
preceding 5 years.
Table 2.—Impact of Legislation on Personal
Tax and Nontax Payments: Change From
Preceding Quarter
[Billions of dollars; based on seasonally adjusted annual rates]
1982
1981
Total
Federal
Economic Recovery Tax
Act of 1981
Withheld:
October 1981 rate reduction
July 1982 rate reduction
Other
I
152
103
152
101
152
72
31
6
-.5
-148
4
Declarations and net settlements:
Permanent provisions ...
Temporary provisions
Estate and gift taxes
* Projected.
3
4.8
-28
0
-.2
III*
185
-47 -200
0
-.6
—5.1
1 1 -1.9
-.1
-.1
Crude Oil Windfall Profit
Tax Act of 1980
State and local
II
IV
-1.6
-.1
244
_7
-25.2
_1
-.6
23
-.3
4.4
1.5
September
Housing and Mortgage
Markets
Real residential investment increased moderately in the third quarter. Single-family structures posted a
small increase for the third consecutive quarter; multifamily structures
increased sharply, following two quarters of almost no change. The "other"
component—which includes mobile
homes, additions and alterations, and
brokers' commissions on the sale of
new and used residences—was flat in
the third quarter.
The recent sharp decline in shortterm interest rates and the 234,000unit increase in housing starts from
the fourth quarter of 1981 to JulyAugust 1982 suggest that the long
slide in residential investment is over.
These and other developments in
housing and mortgage markets are reviewed below. First, estimates of real
residential investment are examined,
largely in terms of their relationship
to housing starts. Next, financial factors are discussed; these include interest rate movements and conditions in
the savings and loan industry.
Residential investment. — The
month-to-month path of housing
starts this year has been erratic
(chart 1). Compared with their fourthquarter 1981 averages, however,
single-family units started in JulyAugust were up 81,000 units and multifamily units started were up
153,000. The July-August level of
single-family starts, although much
above the depressed fourth-quarter
level, was nonetheless very low. Multifamily starts in May and July were
boosted by issuance by the Department of Housing and Urban Development (in March) of commitments to
purchase almost $1 billion of belowmarket rate mortgages under the section 8 rental assistance program. Further stimulus from this mortgage-purchase program is not expected, because funds have not been requested
for fiscal year 1983. Thus, the increase in multifamily starts does not
appear to represent a lasting, marketinduced response to economic conditions. A July increase in rent subsidies under the section 8 program
may, however, give a further boost to
multifamily starts in the autumn.
Real residential investment usually
tracks the course of housing starts.
The relationship is far from perfect,
however, even after removal of the
SURVEY OF CURRENT BUSINESS
September
CHART 1
Housing Starts
Millions of Units
2.5 I
2.0
Total
1.5
1.0
/ Multifamily
V
i l Il
1978
1979
198C
I
1981
1982
Seasonally Adjusted at Annual Rates
Data: Census
U.S. Department of Commerce, Bureau of Economic Analysis
"other" component from residential
investment — this component now accounts for more than two-fifths of real
residential investment— and even
after separation of the rest of residential investment into its single-family
and multifamily structures components.
Housing starts is the number of
housing units on which construction
begins during a particular period,
whereas real investment in residential structures is the value (in 1972
dollars) of housing units put in place
during a period. For single-family
structures, the number of starts is
combined with the value of hew
single-family construction (based on
the Building Permits Survey) to
derive the value of starts in a given
month. Weights are then applied to
the value of starts to generate estimates of the value of construction put
in place that month and in subsequent months. These progress weights
stretch forward 11 months from the
date of the starts; more than one-half
of the value of starts is assumed to be
put in place in less than 3 months,
however, and 90 percent within 6
months. The put-in-place series is
then seasonally adjusted. Real investment estimates are obtained by deflation of the series by an index based
on the prices of new one-family
houses sold. Thus, lags between starts
and construction put in place,
changes in the average value of
starts, and changes in the deflator
can all contribute to disparities be-
tween the movements of starts and
investment in single-family structures.
In the first quarter of this year, for
example, the number of single-family
housing starts increased about 10%
percent. The effect of this increase on
real investment was muted substantially by a decline (5% percent) in the
average value of starts and an increase (% percent) in the deflator.
Lags between starts and construction
put in place had a similar effect, with
the result that real investment in
single-family structures rose only 1
percent. (Percent changes in this
paragraph are not at annual rates.)
For multifamily structures, the
value of construction put in place,
rather than being derived using
starts, is from a survey of a sample of
builders. However, in principle, the
same factors that give rise to disparate movements in single-family
starts and construction put in place
are responsible for such movements
in the two multifamily series. Because
multifamily construction ranges from
two-unit duplexes to high rise condominiums, the lag between starts and
construction put in place is even more
likely to give rise to disparate movements in the multifamily series.
Financial
developments. —Shortterm interest rates started a steep decline in mid-July. The prime rate, for
example, dropped 300 basis points by
the end of August, and rates on
Treasury bills dropped by similar
amounts. (Interest rates on construc-
tion loans are tied to the prime rate,
and ceiling rates on short-term retail
certificates of deposit are linked to
Treasury bill rates.) Many long-term
interest rates also declined, although
not as sharply; corporate bond yields,
for example, fell 156 basis points from
late June to mid-September.
The Federal Home Loan Bank
Board's mortgage commitment rate
series declined 21 basis points from
early July to early August, the latest
period for which data are available
(chart 2). Although this decline was
much smaller than the declines just
mentioned, it was the largest in the
series this year. Further declines in
mortgage rates are likely. Over the
past decade, changes in mortgage
rates have generally lagged changes
in other long-term rates by several
months. The July-September drop in
other long-term rates, therefore, may
presage a substantial drop in mortgage rates this autumn. Moreover,
yields at Federal National Mortgage
Association (FNMA) auctions, which
are widely viewed as indicating future
changes in mortgage rates, declined
in each of the last five bi-weekly auctions, by a total of 182 basis points. In
fact, the Federal Home Loan Mortgage Corporation's mortgage commitment rate series, which is available
weekly, showed a decline of 137 basis
points—comparable in magnitude to
the decline in corporate bond yields—
from mid-July to mid-September.3
The Bank Board's series stood at
16.5 percent in early August, and the
Mortgage Corporation's at 15.6 in
mid-September. It is not clear whether further declines, assuming they
materialize, will carry the mortgage
rate below the 13-14 percent generally regarded as the threshold that will
bring borrowers back to the market
in large numbers. Mortgage lenders
may be reluctant to reduce rates
sharply. They had done so in the
summer of 1980 when other market
rates plummeted, only to find themselves locked into unprofitable commitments when rates turned back up
in the autumn. Competitive forces,
however, may drive mortgage rates
down regardless of the concerns of'
particular lenders.
3. The Bank Board's series is for 25-year mortgages
with a loan to price ratio of 0.75, and covers all mortgage lenders. The Mortgage Corporation's series
covers 30-year mortgages with a loan to price ratio of
0.80, and is based on a sample of savings and loan associations. Both series, as well as the FNMA auction
yields, are for conventional, level payment mortgages.
SURVEY OF CURRENT BUSINESS
CHART 2
Selected Interest Rates
Percent
22
20
Prime Rate
18
16
14
Vi
12
10
September
end of July are rolled over at 9% percent yields, the reduction in interest
costs to S&L's would average approximately $K billion per month during
the next 6 months.
Furthermore, S&L earnings should
improve somewhat as mortgage
demand picks up. The Supreme Court
ruled in June that "due-on-sale"
clauses are enforceable even if States
have passed laws prohibiting their enforcement. House buyers will not be
able to assume low-rate mortgages
taken out years earlier by sellers.
S&L's will be relieved of these lowrate mortgages and replace them with
higher yielding new mortgages. (The
non-assumability of old mortgages, on
the other hand, can be expected to
reduce the demand for housing below
the level that it would otherwise have
been. For this reason, representatives
of builders and real estate brokers opposed the Court's decision.)
Motor Vehicles
1978
1979
1980
1981
1982
'Ceiling rate at savings and loans associations.
U.S. Department of Commerce, Bureau of Economic Analysis
The decline in short-term rates is
unalloyed good news for savings and
loan associations (S&L/s) and other
depository institutions. S&L/s have
been especially hard hit by the very
high interest rates that have prevailed until recently. S&L net worth,
which is used as an indicator of operating profit or loss, has fallen more
than $5 billion—more than 15 percent—since the end of the third quarter of 1981. Losses such as these have
thinned the ranks of S&L's substantially. During the first 7 months of
this year, for example, 318 associations (with combined assets of $43
billion) disappeared through mergers,
almost as many associations as disappeared in all of 1981. The number of
associations that disappeared in each
period was more than 8 percent of the
total number of associations at the
start of each period.
The recent declines in short-term
interest rates should provide S&L/s
with considerable relief. Most S&L liabilities are now either linked to
market rates or not regulated at all.
In addition to 6-month money market
certificates (MMC's), 30-month small
savers' certificates (SSC's), and taxexempt all savers' certificates, the recently authorized 1-month and 3
month certificates are linked to yields
on U.S. Treasury securities. Jumbo
certificates (which are issued in denominations of $100,000 and more),
1%-year individual retirement account
balances, and 3%-year "wild card" accounts have no ceilings. MMC's,
SSC's, and jumbo certificates alone
make up more than two-thirds of
total S&L deposit liabilities. If Treasury bill rates remain in the singledigit range, S&L's can expect substantial relief from the cost pressures they
have experienced for the past several
years. For example, if the $180 billion
in outstanding MMC's at S&L's at the
Motor vehicle output increased
much less in the third quarter than it
had in the second—$1 billion (1972
dollars) compared with $10 billion
(table 3). Auto output increased less
than in the second quarter, and truck
output declined following an increase.
Auto sales to domestic purchasers
were flat in the third quarter; an increase in final sales was traceable to
net exports. Truck sales were down.
During the quarter, domestic inventories of both autos and trucks built
up to high levels relative to sales.
Total new car sales were about the
same as the 7.5 million units (seasonally adjusted annual rate) registered
in the second quarter (chart 3). Domestic sales were down slightly from
5.5 million: Sales of large (full-size
and intermediate) cars retreated fol-
Table 3.—Motor Vehicle Output
[Billions of 1972 dollars; seasonally adjusted annual rates]
Change from preceding quarter
1981: IV
Output
Autos
Trucks
Final sales
Autos
Trucks
.
..
.
.
.
Change in business inventories
Autos
Trucks
..
..
. . . .
1982:
1982
1981: III
I
II
in*
III*
58.2
45.6
12.6
-10.9
11 2
.3
-2.1
31
1.0
10.1
8.4
1.7
1.2
2.5
-1.3
56.5
42.2
14.3
56.7
43.7
13.0
97
-8.5
-1.2
6.4
3.1
3.3
24
13
-1.1
8
1.4
-2.2
50.2
38.4
11.8
1.3
1.8
-.5
-1.1
26
1.5
12.5
9.7
2.8
1.9
1.0
.9
6.2
3.7
2.5
-8.4
-6.2
-2.2
* Projected. Based on unit production in July and August and scheduled production for September, unit sales of autos through
the first 10 days of September and of trucks for July and August, and unit inventories for July and August.
NOTE.—For estimates through 1982: II, see tables 1.14-1.15 and 1.16-1.17 of the National Income and Product Accounts
Tables. Auto output includes dealers' margins on their used car transactions; truck output includes new trucks only.
SURVEY OF CURRENT BUSINESS
September
lowing a second-quarter advance, and
sales of small (compact and subcompact) cars changed little. Imported car
sales were up slightly from 2.0 million; the share of total sales accounted for by imports moved close to the
record 30 percent.
The lackluster performance of new
car sales occurred despite the strong
third-quarter increase in disposable
personal income and a downturn in
interest rates on new auto install••••••••••B
CHART 3
Retail Sales of New Passenger Cars
7
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I I
DOMESTIC URGE CARS
Intermediate
/
i i i I i
Second-quarter corporate
profits
DOMESTIC SMALL CARS AMD IMPORTS
Imports
Compact
Subcompact
pi I I I I I I I I I I I I I I I I I I I
1978
1979
1980
1981
1982
Seasonally Adjusted at Annual Rates
NOTE.-The components may not add to the total because each category
was separately adjusted for seasonal variation. Data for the most recent
quarter are projected.
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
82-9-3
ment loans. Apparently, consumers
remained wary after the prolonged
period of poor economic performance:
Job uncertainty persisted as the unemployment rate reached a postwar
high during the quarter. The downturn in auto installment rates was
slow; in August, the rate charged by
commercial banks was still above 17
percent.
Domestic car production increased
to 6.1 million units (seasonally adjusted annual rate) from 5.4 million in
the second quarter and 4.2 million in
the first. Schedules at the beginning
of the third quarter indicated a larger
increase, but production was cut back
as the quarter progressed. The cutbacks were induced by the lackluster
sales, which resulted in a rapid inventory buildup of 1982 models as the
model year drew to a close. End-ofAugust inventories were 1,486,000
(seasonally
adjusted), up
from
1,247,000 at the end of the second
quarter, and the inventory/sales ratio
was 3.3, up from 2.7. The cutbacks
were accomplished by extending the
downtime for model changeover and
by reducing the rate of production of
1983 models.
Total new truck sales declined from
2.5 million (seasonally adjusted
annual rate) in the second quarter to
about 2.3 million in the third. Sales of
both domestic light (under 10,000
pound) and "other" (over 10,000
pound) trucks declined. Inventories
began to build up, and production was
cut to try to bring them back into line
with sales. Sales of imported trucks
rebounded from the 4-year low in the
second quarter.
Corporate profits from current production—profits with inventory valuation and capital consumption adjustments—were $155% billion in the
second quarter, down only $1% billion
from the first quarter of 1982 but
down $45 billion from the first quarter of 1981. (The second-quarter estimate is $% billion higher than the one
published a month ago. An upward
revision in profits from the rest of the
world more than offset a downward
revision in profits of domestic corporations.) The second-quarter decline
was in profits of domestic nonfinancial corporations; profits from the rest
of the world and profits of domestic financial corporations increased. In the
first quarter, when the total had decreased $27 billion, profits of each of
these major groups had decreased.
Profits from the rest of the world
increased $1% billion to $18 billion in
the second qurarter, following a decrease of $9 billion. The increase occurred as a decrease in the profits of
foreign petroleum operations of U.S.
corporations was more than offset by
an increase in nonpetroleum profits.
The nonpetroleum increase occurred
despite weakness in the economies of
most other industrial countries and
appears to have been centered in the
profits of Canadian affiliates of U.S.
motor vehicle manufacturing corporations. These profits reflected a sharp
increase in U.S. imports of Canadianmade motor vehicles and parts. Over
the last two quarters, rest-of-theworld profits contributed substantially to the volatility of the total, as they
have done in some other recent periods as well. One component of these
profits, reinvested earnings of incorporated affiliates, was first included
at the time of the comprehensive revision of the national income and product accounts in 1980. The definition of
these earnings, the sources and methods used to prepare estimates, and
their course in recent years are described in a Special Note beginning
on page 6.
Profits of domestic financial corporations increased $2% billion to $22%
billion in the second quarter, following a decrease of less than $% billion.
The increase occurred despite a decrease in commercial banks' profits
and was primarily due to reduced
losses of savings and loan associations. The reduced losses reflected
decreasing interest rates, which lowered the costs of attracting deposits;
because about three-fourths of savings
and loan associations' assets are longterm mortgages, most of which have
fixed interest rates, reductions in interest rates improve profitability. Increased profits of insurance carriers
also contributed to the increase in financial profits.
Profits of domestic nonfinancial corporations decreased $5% billion to
$115 billion in the second quarter, following a decrease of $18 billion. Decreases in the profits in most nonmanufacturing industries accounted
(Continued on p. 8)
Special Note*—Reinvested Earnings of Incorporated Affiliates in the National
Income and Product Accounts
PROFITS from the rest of the world
is a sizable part of corporate profits:
It was 12 percent of the total in 1981
and was among the largest of the
components shown in the detail of
profits by industry. Further, rest-ofthe-world profits accounted for a disproportionate share—almost onethird—of the last 3 years' profits
slide.
Rest-of-the-world profits is the net
receipts by the United States of dividends, earnings of unincorporated affiliates, and reinvested earnings of incorporated affiliates. The receipts are
those of U.S. corporations and persons, and the payments are those to
all foreigners. The dividends component consists of both the dividends in
direct investment income and those in
portfolio investment income, an
income classification based on the
extent of ownership by a foreign resident in the case of investment in the
United States and by a U.S. resident
in the case of investment abroad (10
percent or more for direct, less than
10 percent for portfolio). Earnings of
unincorporated affiliates are part of
direct investment income, as are the
reinvested earnings of incorporated
affiliates.
This Special Note discusses the reinvested earnings component, which,
in 1981, accounted for over one-third
of rest-of-the-world profits. The definition of reinvested earnings, and the
sources and methods used to implement it, point to the factors that underlie the sharp changes in reinvested
earnings in recent years (see chart 4).
As a component of rest-of-the-world
profits in the national income and
product accounts (NIPA's), reinvested
earnings is the difference between
U.S. residents' share (generally in
proportion to equity participation) of
reinvested earnings of incorporated
foreign affiliates of U.S. direct investors (receipts) and foreign residents'
share of reinvested earnings of U.S.
affiliates of foreign direct investors
(payments). Receipts are included in
"national" aggregates, such as national income—that is, aggregates referring to production attributable to factors of production supplied by U.S.
residents—but payments are excluded. For "domestic" aggregates,
such as gross domestic product—that
is, aggregates referring to production
attributable to factors of production
located in the United States—the opposite is the case: Payments are included but receipts are excluded.
In addition to appearing as part of
profits in type-of-income classifications, reinvested earnings is part of
the rest-of-the-world sector in sectorof-origin classifications. In GNP by
type of product, receipts of reinvested
earnings are in the factor income
component of exports, and payments
are in the corresponding component
of imports. Further, reinvested earnings is in gross investment (as net foreign investment) and in gross saving
(as undistributed corporate profits).
Reinvested earnings of incorporated
affiliates was first included in the
NIPA's as part of the comprehensive
revision of 1980. These earnings had
been included in the U.S. international transactions accounts several years
earlier. Expansion in the early 1970's
in the item coverage of BEA's surveys
of international investment facilitated
preparation of estimates for both sets
of accounts. * As a result of the inclusion of both dividends and reinvested
earnings of incorporated affiliates in
the NIPA's, rest-of-the-world profits
was made essentially invariant to the
form in which earnings of incorporated affiliates are attributed to direct
investors.
1. In June 1976, BEA introduced estimates of reinvested earnings of incorporated affiliates as memoranda to the quarterly U.S. international transactions accounts. Two years later, receipts and payments
became line items in those accounts, consistent with
guidelines established by the International Monetary
Fund. Estimates of reinvested earnings appear in payments and receipts of income on direct investment
and, with sign reversed, in the direct investment capital accounts. As shown in NIPA table 4.5, the estimates of direct investment income in the international transactions accounts include, but those in the
NIPA's exclude, capital gains net of losses.
••••••••••••••
CHART 4
Rest-of-the-World Corporate Profits
Billion $
35
PROFITS
30
Total1
25
20
15
10
I I I I I I l I l l I I l I I i l I i I
25
REINVESTED EARNINGS
20
Receipts
15
10
1977
78
79
80
81
Seasonally Adjusted at Annual Rates
1. For definition, see text.
NOTE.—In 1977, estimates include capital gains.
U.S. Department of Commerce, Bureau of Economic Analysis.
82
September
Sources and methods
For both receipts and payments, the
estimates of reinvested earnings are
calculated as the difference between
earnings and dividends (on common
and preferred stock). In this calculation, the dividends item is dividends
paid in the accounting period before
host-country withholding taxes on
dividends. The earnings item is the
net income for the accounting period,
net of host-country income taxes. (Because the dividends item is on an "as
paid" basis, it, and hence reinvested
earnings, cannot in general be related
only to the earnings of a single accounting period.)
Data on earnings and dividends are
collected by BEA from the universe of
incorporated affiliates in benchmark
surveys of foreign direct investment
in the United States and of U.S.
direct investment abroad. Estimates
for benchmark years are extrapolated
using quarterly sample surveys. In
the extrapolation, account is taken of
affiliates not covered by the sample
surveys; adjustments are made to include new affiliates and to exclude
those liquidated or sold. Data are aggregated by country and industry,
and published annually, usually in
the August issue of the SURVEY.
Annual and quarterly estimates are
incorporated in the NIPA's (and in
the U.S. international transactions accounts) in more aggregated form. Beginning with estimates for 1978, reinvested earnings in the NIPA's, like'
other NIPA components, exclude capital gains and losses; for earlier years,
data needed to exclude them are not
available. Neither an inventory valuation nor a capital consumption adjustment is made, also because data are
not available.
Receipts and payments of reinvested earnings are deflated as part of
factor income in the NIPA's using the
implicit price deflator for net domes-
SURVEY OF CURRENT BUSINESS
tic product. Lack of detailed price
data by country and industry necessitates the use of such a broad domestic
price measure. Its use can be justified
partly because exchange rate movements over time tend to offset
changes in relative prices among
countries, and because the degree of
industrial concentration of direct investment is not great.
Reinvested earnings, 1977-81
In the 1970's through 1977, reinvested earnings of incorporated affiliates varied between $3 and $7 billion.
Thereafter, it increased sharply to a
peak of $15 % billion in 1979, and then
declined $3% billion in 1980 and in
1981. Fluctuations can be traced in
terms of factors affecting earnings
and payments of dividends. Among
those affecting dividends are recent
years' earnings, changes in homecountry taxation, and host-country restrictions and taxes on dividends.
In recent years, fluctuations in receipts—that is, in reinvested earnings
of foreign affiliates of U.S. direct investors—rather than in payments,
have been the source of most of the
fluctuations in the net. Movements in
exchange rates were one factor that
played a major role in determining
the pattern of receipts. Earnings
abroad, which firms generally calculate initially in foreign currencies, are
reported to BEA, and expressed in the
NIPA's, in dollars. Thus, dollar depreciation against the currency of a
country where the earnings are generated generally raises the dollar
measure; dollar appreciation generally lowers it. A trade-weighted index of
the foreign currency price of the
dollar, based on 22 currencies, declined 9 percent in 1978, steadied in
1979, and then rose 3 percent in 1980
and 13% percent in 1981. Developments in the petroleum industry
worldwide were another major factor
determining the pattern of receipts.
On the up side of the 1979 peak in
receipts, increases in 1978 and 1979
reflected sharp increases in earnings
in combination with less than proportional increases in dividends. Earnings were boosted in 1978 by depreciation of the dollar and in 1979 by increased prices and production of petroleum products and by continuing
high worldwide inflation. In both
years, much of the earnings tended to
be reinvested, probably in part to finance the replacement of physical
assets at costs exceeding allowances
calculated under historical cost accounting. Also, a 1979 change in the
United Kingdom in the tax treatment
of inventory profits prompted affiliates there to reinvest newly available
funds.
On the downside of the peak in receipts, the 1980 decline reflected a decline in earnings in combination with
an increase in dividends, and the 1981
decline, a decline in earnings. In 1980,
much of the decline occurred in the
reinvested earnings of affiliates in the
United Kingdom, where, as previously
noted, a tax change caused a one-year
jump in reinvested earnings in 1979.
The decline in earnings in 1981 was
due to slowing foreign economic activity as well as appreciation of the
dollar against major foreign currencies.
As can be seen from the chart, payments were much more stable than
receipts. Increases in 1978, 1979, and
1980 reflected increases in earnings in
combination with a decline (in 1978)
or less than proportional increase (in
1979 and 1980) in dividends. These increases were centered in petroleum
affiliates, where earnings rose at extremely high rates. A decline in 1981
reflected a sharp decline in earnings
in combination with a sharp increase
in dividends.
8
SURVEY OF CURRENT BUSINESS
CHART 5
Corporate Profits and ConstantDollar Sales for Manufacturing:
Percent Change From Preceding
Quarter
Percent change at annual rates
-25
1977
78
79
80
81
82
Based on Seasonally Adjusted Annual Rates
'Corporate profits with IVA and without CCAdj.
U.S. Department of Commerce, Bureau of Economic Analysis
4. The IVA and CCAdj are defined in National
Income and Product Accounts of the United States,
1929-1976: Statistical Tables. U.S. Department of
Commerce, Bureau of Economic Analysis (Washington, B.C.: U.S. GPO, 1981).
profits including inventory profits and
profits attributable to underdepreciation, decreased $1% billion to $55% billion in the second quarter, following a
decrease of $15 billion in the first.
The first- and second-quarter levels
were each increased $1 billion by
some provisions of the recently enacted Tax Equity and Fiscal Responsibility Act of 1982 that were retroactive to the beginning of the year. (For
a discussion of the act, see the article
on Federal budget developments later
in this issue of the SURVEY.) The
levels of profits after tax were correspondingly lowered by the provisions
of the act (to $115 and $116% billion
in the first and second quarters, respectively). Profits before tax were
not affected.
*
#
*
Second-quarter NIPA revisions
The 75-day revisions of the national
income and product account estimates
for the second quarter of 1982 are
shown in table 4.
Table 4.—Revisions in Selected Component Series of the NIPA's, Second Quarter of 1982
82-9-5
for most of the second-quarter decrease. In manufacturing, quarter-toquarter changes in profits have been
closely related to quarter-to-quarter
changes in constant-dollar manufacturing sales in recent years (chart 5).
In the second quarter, manufacturing
profits decreased slightly, following
large decreases in each of the two previous quarters, while constant-dollar
sales increased slightly, following
large decreases. The second-quarter
decrease in manufacturing profits was
largely traceable to decreased profits
for petroleum, chemicals, fabricated
metals, and nonelectrical machinery
manufacturers and increased losses of
primary metals manufacturers. Offsetting these were a swing from substantial losses to profits for motor vehicle manufacturers and increased
profits in most other manufacturing
industries.
Other measures of profits.—Profits
before tax were unchanged at $171%
billion in the second quarter, following a decrease of $45 billion in the
first. These profits exclude the inventory valuation adjustment and capital
consumption adjustment.4 Inventory
profits—the IVA with sign reversed—
increased $5 billion to $9% billion in
the second quarter, following a decrease of $12% billion. Profits attributable
to underdepreciation—the
CCAdj with sign reversed—decreased
$3 billion to $7 billion in the second
quarter, following a decrease of $5%
billion. Somewhat more than $2 billion of each decrease in the CCAdj
was due to provisions of the Economic
Recovery Tax Act of 1981, which have
progressively reduced profits attributable to underdepreciation. The
second-quarter decrease is also consistent with rates of inflation in
prices for fixed nonresidential investment that were lower than those experienced over the service lives of the
assets: such lower rates of inflation
lead to less negative values for the
portion of the CCAdj that values fixed
capital used up in production at replacement costs rather that at historical costs.
Corporate profits taxes.—Corporate
profits taxes, which are levied on
September
Seasonally adjusted at annual
rates
45-day
estimate
75-day
estimate
Revision
Percent change
from preceding
quarter at annual
rates
45-day
estimate
75-day
estimate
Billions of current dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
. ...
National income
Compensation of employees
Corporate profits with inventory valuation and capital consumption
adjustments
Other
Personal income
3,041.2
3,045.2
4.0
6.2
6.8
1945.8
351.9
95.2
-17.4
35.1
630.6
1947.8
352.2
95.5
-16.2
34.9
630.9
2.0
.3
.3
1.2
-.2
.3
5.6
-5.6
7.6
6.1
53
.3
.6
2,425.1
2,425.2
.1
4.8
4.8
1,850.6
1,850.7
.1
4.4
4.4
154.9
419.7
155.4
418.8
.5
9
56
10.9
-3.7
9.9
2,553.5
2,552.7
-.8
7.0
6.9
9.4
Billions of constant (1972)
dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
. .,
1,475.3
1,478.4
3.1
1.3
2.1
953.8
166.4
39.9
-5.3
35.7
284.7
955.0
166.7
40.1
-4.4
35.7
285.3
1.2
.3
.2
.9
0
.6
2.0
123
11.5
2.5
-11.8
12.9
-6.2
-5.3
l
Index numbers, 1972 = 100
GNP implicit price deflator .
GNP fixed-weighted price index
GNP chain price index
206.14
213.0
205.98
213.0
-.16
0
4.9
4.2
4.7
4.6
4.1
4.6
1. Not at annual rates.
NOTE.—For the second quarter of 1982, 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 June; for nonresidential fixed investment, revised manufacturers' shipments of equipment for June, revised
construction put in place for June, and business share of new car purchases for June; for residential investment, revised
construction put in place for June; for change in business inventories, revised book values for manufacturing 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 GAT' prices, revised residential housing prices for the quarter, and revised producer price indexes
for April.
SURVEY OF CURRENT BUSINESS
September
National Income and Product Accounts Tables
New estimates in this issue: 1. Second quarter 1982, revised. 2. Federal Government corporate profits tax liability and related items (tables
1.11, 1.13, 3.2, and 5.1) for first quarter 1982, revised to incorporate effects of Tax Equity and Fiscal Responsibility Act of 1982.
The tables that follow are presented in eight groups, and the table numbers reflect these groups. The same numbers are used in other
publications presenting national income and product account estimates. The groups are:
5. Saving and investment
6. Product and income by industry
7. Implicit price deflators and price indexes
8. Supplementary table: Percent change from preceding period for
selected items
1. National product and income
2. Personal income and outlays
3. Government receipts and expenditures
4. Foreign transactions
The abbreviations used in the tables are: CCAdj
IVA
NIPA's
Capital consumption adjustment
Inventory valuation adjustment
National income and product accounts
Preliminary
Revised
The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: Statistical Tables (Stock
No. 003-010-00101-1, price $10.00). Estimates for 1977-81 and corrections for earlier years are in the July 1982 SURVEY. These publications are
available from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
Table 1.1-1.2.—Gross National Product in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1980
1981
1981
Seasonally adjusted at annual rates
1982
I
II
III
IV
I
1980
1981
1981
II r
1982
I
II
III
IV
I
II r
1,510.4
Gross national product
2,633.1
2,937.7
2,864.9
2,901.8
2,980.9
3,003.2
2,995.5
3,045.2 1,474.01 1,502.6
1,507.8
1,502.2
1,490.1
1,470.7
1,478.4
Personal consumption expenditures
1,667.2
1,843.2
1,799.9
1,819.4
1,868.8
1,884.5
1,919.4
1,947.8
930.5
947.6
951.1
944.6
951.4
943.4
949.1
955.0
214.3
670.4
782.5
234.6
734.5
874.1
236.9
720.6
842.4
230.4
729.6
859.4
241.2
741.3
886.3
229.6
746.5
908.3
237.9
749.1
932.4
240.7
755.0
952.1
137.1
355.8
437.6
140.0
362.4
445.2
145.3
361.6
444.2
138.6
361.7
444.3
142.2
363.0
446.2
134.1
363.1
446.2
137.5
362.2
449.5
138.3
364.5
452.2
Durable goods
Nondurable goods
Services
...
.
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Nonfarm structures
Farm structures
Producers' durable equipment
Change in business inventories
Nonfarm
Farm
Net exports of goods and services
Exports
Imports
Government purchases of goods and services
Federal
National defense
Nondefense
State and local
402.3
471.5
455.7
475.5
486.0
468.9
414.8
431.5
208.4
225.8
221.6
229.5
233.4
218.9
195.4
202.3
412.4
309.2
110.5
198.6
103.2
98.3
1.9
3.0
-10.0
57
-4.3
451.1
346.1
129.7
216.4
104.9
99.7
2.1
3.2
20.5
15.0
5.5
443.5
330.0
119.6
210.4
113.6
109.1
1.3
3.2
12.2
10.0
2.2
450.9
341.3
127.0
214.3
109.5
104.7
1.6
3.2
24.6
19.3
5.3
454.2
353.0
132.7
220.2
101.2
95.6
2.4
3.2
31.8
24.6
7.2
455.7
360.2
139.6
220.6
95.5
89.4
2.9
3.2
13.2
6.0
7.2
450.4
357.0
141.4
215.6
93.4
87.9
2.4
3.1
-35.6
-36.0
.4
447.7
352.2
143.6
208.6
95.5
89.6
2.8
3.2
-16.2
-15.0
-1.2
213.3
166.1
48.5
117.6
47.2
44.3
.8
2.0
-5.0
-2.9
-2.1
216.9
172.0
51.6
120.4
44.9
42.1
.9
2.0
9.0
6.8
2.1
219.2
169.7
49.5
120.1
49.6
47.0
.6
2.0
2.4
2.0
.4
217.4
170.1
51.0
119.1
47.3
44.6
.7
2.0
12.1
10.2
1.9
216.9
173.9
52.5
121.4
42.9
39.9
1.0
2.0
16.5
13.6
3.0
214.1
174.2
53.3
120.9
"39.9
36.7
1.2
2.0
4.8
1.6
3.2
210.8
172.0
53.5
118.5
38.9
36.0
1.0
1.9
-15.5
-15.6
.2
206.7
166.7
53.7
113.0
40.1
37.0
1.1
1.9
-4.4
-3.8
-0.6
25.2
26.1
31.2
23.7
25.9
23.5
31.3
34.9
50.6
42.0
48.2
44.2
39.2
36.9
35.7
339.2
314.0
367.3
341.3
365.4
334.2
368.9
345.1
367.2
341.3
367.9
344.4
359.9
328.6
365.8
330.9
159.2
108.6
158.5
116.4
159.3
111.1
159.7
115.5
157.8
118.7
156.9
120.4
151.7
114.7
154.4
118.7
538.4
596.9
578.1
583.2
600.2
626.3
630.1
630.9
284.6
287.1
286.8
283.9
286.4
291.3
289.2
285.3
197.2
131.4
65.8
341.2
228.9
153.7
75.2
368.0
217.0
143.1
73.9
361.1
218.2
150.5
67.7
365.0
230.0
154.4
75.7
370.1
250.5
166.9
83.6
375.7
249.7
166.2
83.5
380.4
244.3
176.2
68.2
386.6
106.5
70.1
36.4
178.1
110.4
73.5
36.8
176.7
107.9
71.0
36.9
179.0
107.0
72.9
34.1
176.9
110.7
74.3
36.5
175.7
116.0
76.1
39.9
175.3
114.4
74.5
39.8
174.9
110.3
78.2
32.1
175.0
36.5
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
26331 29377
2,864.9
2,901.8 2,980.9
3,003.2
2,643 1 2,917 3 2,852.7
100
12.2
205
2,877.2
24.6
2,949.1 2,989.9
132
318
3,045.2
1,474.0
1,502.6
1,507.8
1,502.2
1,510.4
1,490.1
1,470.7
1,478.4
3,031.1 3,061.4
-356
-16.2
1,479.0
-5.0
1,493.7
9.0
1,505.4
2.4
1,490.1
12.1
1,493.9
16.5
1,485.3
4.8
1,486.1
-15.4
1,482.7
— 4.4
2,995.5
1,141.9
1,289.2
1,265.3
1,276.1
1,317.0
1,298.4
1,269.4
1,283.1
667.9
689.5
692.8
689.8
697.2
678.0
661.8
663.2
Final sales
Change in business inventories
1,151.9
100
1,268.7
205
1,253.1
12.2
1,251.4
24.6
1,285.1
31.8
1,285.2
13.2
1,305.0
-35.6
1,299.3
-16.2
672.9
-5.0
680.5
9.0
690.4
2.4
677.7
12.1
680.7
16.5
673.2
4.8
677.2
-15.4
667.5
4.4
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
4773
482.5
-5.2
664.6
6694
48
5281
519.4
8.7
761.1
7494
117
522.0
519.8
2.2
743.3
733.3
100
538.2
519.7
18.5
737.8
731.7
61
547.3
527.5
19.8
769.7
7576
120
504.9
510.5
-5.6
793.6
7747
189
482.4
513.6
-30.9
787.0
7918
48
505.9
512.6
-6.6
777.2
7867
96
288.3
290.8
-2.6
379.7
382.1
24
293.1
289.3
3.8
396.3
391.2
51
298.9
298.9
.1
393.8
391.5
23
299.6
290.5
9.1
390.3
387.2
30
298.8
290.2
8.6
398.4
390.5
79
275.1
277.6
-2.5
402.9
395.6
73
265.0
278.7
-13.7
396.8
398.5
17
272.3
274.9
-2.6
390.9
392.6
17
Services
Structures
1,225.5
265.7
1,364.3
284.2
1,313.5
286.1
1,340.2
285.6
1,382.1 1,421.5
281.9
283.3
1,444.4
281.7
1,476.7
285.3
687.1
118.9
695.6
117.6
693.1
121.9
693.2
119.2
697.5
115.7
698.6
113.4
697.0
111.9
702.2
113.0
Addenda:
Gross domestic purchases *
Final sales to domestic purchasers *
2,607.9
26179
2,911.7 2,833.8
28912 28216
2,878.1 2,955.0 2,979.7 2,964.2 3,010.3
28535 29232 29665 29998 30265
1,423.4
1,428 4
1,460.6
1,451.6
1,459.6
1,457.2
1,458.0
1,445.9
1,471.2
1,454.7
1,453.6
1,448.8
1,433.8
1,449 2
1,442.6
14470
Goods
1. Gross domestic purchases equals GNP less exports plus imports; final sales to domestic purchasers equals final sales less exports plus imports.
10
SURVEY OF CURRENT BUSINESS
September
Table 1.5-i.o.—Gross National Product by Sector in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1980
1982
1981
1981
II
I
III
2,587.0
2,228.8
2,159.5
1,951.0
208.5
65.4
3.9
85.4
6.6
78.8
272.8
82.9
189.9
46.1
.
2,888.5
2,492.4
2,418.5
2,188.9
229.6
75.8
-1.9
96.4
7.0
89.4
299.7
92.3
207.4
49.2
2,855.2
2,463.9
2,394.6
2,167.8
226.8
73.9
-4.6
95.2
7.0
88.2
296.2
90.5
205.6
46.6
2,817.9
2,433.4
2,357.5
2,134.9
222.6
70.8
5.1
92.9
7.0
85.9
291.6
89.9
201.7
47.1
2,931.2
2,533.9
2,454.7
2,223.0
231.7
80.1
-.8
97.1
7.1
90.1
300.1
91.0
209.2
49.7
2,949.8
2,538.6
2,467.4
2,229.9
237.4
78.4
-7.2
100.3
7.1
93.3
310.9
97.9
213.0
53.3
2,949.6
2,530.6
2,465.1
2,222.8
242.3
72.9
7.5
103.3
7.1
96.2
315.8
98.6
217.1
45.8
Table 1.7.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income
Less:
Capital consumption allowances with CCAdj...
Capital consumption allowances
Less- CCAdj
Equals: Net national product
Equals: National income
Equals: Personal income
IV
III
1980
315.4
325.0
335.2
344.8
348.7
353.9
232.0
-61.2
267.5
-62.6
253.2
623
262.2
628
271.9
632
282.6
622
293.4
-55.3
304.4
-49.6
2,339.9 2,607.6 2,549.5 2,576.8 2,645.8 2,658.4 2,646.7 2,691.2
213.0
251.3
244.6
252.0
253.3
255.3
250.2
256.7
11.4
3.9
12.4
-1.9
12.0
5.1
12.2
-4.6
12.5
-.8
12.8
-7.2
13.1
-7.5
13.5
.8
5.5
6.6
5.8
7.2
6.5
7.0
6.0
4.9
2,117.1 2,352.5 2,293.7 2,324.4 2,387.3 2,404.5 2,396.9 2,425.2
181.6
187.7
190.6
235.7
200.3
217.6
185.1
231.6
193.1
244.0
183.9
249.5
157.1
258.7
155.4
267.5
204.0
238.1
232.5
236.2
240.3
243.5
250.8
253.0
0
0
0
0
.2
1
2
0
285.8
263.4
55.9
323.9
329.0
62.5
310.8
304.7
59.2
314.8
320.6
61.5
332.3
339.6
64.1
337.9
351.0
65.2
341.4
359.7
65.8
351.7
372.0
66.1
11.4
12.4
12.0
12.2
12.5
12.8
13.1
13.5
2,160.4 2,415.8 2,330.0 2,380.6 2,458.2 2,494.6 2,510.5 2,552.7
[Billions of 1972 dollars]
I
154.9
156.3
157.8
159.3
160.8
13244 1 317 0 1 354 4 1 347 3 1 354 1 1 3322 1 311 4 1 317 6
1446
HI 2
1475
1472
1475
1465
1466
147 1
2.2
2.7
-.9
-2.4
-.4
-3.6
-3.7
.4
1,177.6 1,200.8 1,204.3 1,202.6 1,207.0 1,189.2 1,168.5 1,170.1
1,454.1
1,250.5
1,212.2
1,079.5
132.6
38.0
.4
47.9
3.1
44.9
155.7
49.8
105.9
24.2
II
1982
III
IV
I
II r
National income
2,117.1 2,352.5 2,293.7 2,324.4 2,387.3 2,404.5 2,396.9 2,425.2
1,598.6 1,767.6 1,718.0 1,750.0 1,789.1 1,813.4 1,830.8 1,850.7
Wages and salaries
1,356.1 1,494.0 1,452.8 1,479.4 1,512.6 1,531.1 1,541.5 1,556.6
Government and gov296.3 300.0
292.3
284.0
279.8
276.2
ernment enterprises .... 260.1 283.1
Other
1,095.9 1,210.9 1,176.5 1,199.6 1,228.6 1,238.8 1,245.2 1,256.6
Supplements to wages
and salaries
Employer contributions for social insurance
Other labor income
242.5
273.6
265.2
270.6
276.5
282.3
289.3
294.1
115.3
127.2
133.2
140.4
129.9
135.3
132.1
138.4
134.3
142.2
136.5
145.8
140.2
149.1
141.7
152.5
116.3
124.7
123.4
123.8
127.5
124.1
116.4
117.3
19.4
24.0
21.6
22.5
27.1
24.6
17.8
17.4
26.4
70
31.8
79
29.1
-7.5
30.3
-7.8
35.1
-8.0
32.8
-8.2
26.0
82
25.5
81
96.9
99.9
31
.1
100.7
100.3
16
2.1
101.8
103.2
-2.5
1.2
101.2
100.9
-1.4
1.8
100.4
99.3
12
2.3
99.5
97.7
12
3.0
98.6
93.8
0
4.7
99.9
94.5
10
6.4
Rental income of persons
with CCAdj
32.9
33.9
34.4
34.0
33.6
33.6
33.9
34.2
Rental income of persons
CCAdj
65.3
-32.4
69.4
-35.5
68.7
-34.3
68.9
-34.9
69.5
-35.9
70.5
369
71.0
37 1
70.7
364
Corporate profits with IVA
and CCAdj
181.6
190.6
200.3
185.1
193.1
183.9
157.1
155.4
Proprietors' income with
IVA and CCAdj
Farm
Proprietors'
with IVA
CCAdj
income
Nonfarm
Proprietors' income
IVA
CCAdj
Corporate profits with
IVA
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
profits
.
.
.
.
CCAdj ..
153.4
1,448.0
1,244.4
1,210.0
1,077.9
132.0
38.1
-3.7
47.8
3.1
44.7
155.7
49.8
106.0
22.7
Compensation of employees
I V A
1,474.0 1,502.6 1,507.8 1,502.2 1,510.4 1,490.1 1,470.7 1,478.4
155.6
1,463.3
1,260.2
1,221.5
1,089.9
131.6
42.3
-3.6
47.4
3.2
44.1
155.8
49.8
106.0
26.7
1981
1981
Ilr
I
330.1
149.6
1,490.1 1,470.7 1,478.4
Table 1.11.—National Income by Type of Income
1982
1981
II
Table 1.8.—Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars
Gross national product
Less: Capital consumption
allowances with CCAdj
Equals: Net national product
Less: Indirect business tax
and nontax liability plus
business transfer payments less subsidies plus
current surplus of government enterprises
Statistical discrepancy
Equals: National income
1,485.0
1,282.4
1,241.9
1,110.6
131.3
40.9
-.4
46.7
3.3
43.5
155.9
49.8
106.1
25.4
Billions of dollars
293.2
Less:
Corporate profits with
IVA and CCAdj
Net interest
Contributions for social
insurance
Wage accruals less disbursements
Plus:
Government transfer payments to persons
Personal interest income....
Personal dividend incomeBusiness transfer payments
1,141.4
1,477.8
1,274.8
1,240.9
1,109.6
131.2
36.3
2.4
46.7
3.3
43.4
156.2
49.7
106.5
24.4
Seasonally adjusted at annual rates
2,633.1 2,937.7 2,864.9 2,901.8 2,980.9 3,003.2 2,995.5 3,045.2
Less:
Indirect business tax and
nontax liability
Business transfer payments
Statistical discrepancy
Plus: Subsidies less current
surplus of government
enterprises
1,115.4
1,482.8
1,279.7
1,242.9
1,111.6
131.3
4.1
2.7
46.8
3.4
43.4
156.3
49.6
106.8
25.0
Billions of dollars
I
Gross national product
1,477.2
1,274.3
1,236.8
1,105.5
131.4
38.4
.9
46.9
3.3
43.6
156.0
49.7
106.3
25.4
Seasonally adjusted at annual rates
1981
1980
1,447.9
1,246.7
1,210.3
1,080.7
129.6
34.2
2.2
45.8
3.4
42.4
155.4
49.5
105.9
26.1
II r
I
IV
III
1,474.0 1,502.6 1,507.8 1,502.2 1,510.4
2,995.7
2,570.1
2,494.4
2,247.9
246.5
74.8
.8
105.3
7.1
98.2
320.3
98.9
221.4
49.5
2,012.0 2,253.5
g
1982
1981
II
I
2,633.1 2,937.7 2,864.9 2,901.8 2,980.9 3,003.2 2,995.5 3,045.2
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
Government
Federal
State and local
Rest of the world
Addendum:
P
1981
II T
I
IV
1980
Net interest
Addenda:
Corporate profits after
tax with IVA and
CCAdj
Dividends
Undistributed
profits
with IVA and CCAdj
199.4
207.5
217.6
202.6
210.3
199.4
167.2
162.2
242.4
84.7
157.8
58.1
232.1
81.2
150.9
65.1
253.1
91.5
161.6
61.5
225.4
79.2
146.2
64.0
233.3
82.4
150.8
66.8
216.5
71.6
144.9
68.1
171.6
56.7
115.0
68.8
171.7
55.3
116.3
69.3
99.7
85.8
100.1
246
355
-22.8
-23.0
-17.1
-4.4
-17.5
-17.1
-15.5
-10.1
-43.0
-17.8
82.2
84.0
76.9
46.1
47.0
-9.4
168
173
187.7
235.7
217.6
231.6
244.0
249.5
258.7
267.5
97.0
58.1
109.5
65.1
108.9
61.5
105.9
64.0
110.7
66.8
112.3
68.1
100.4
68.8
100.0
69.3
38.9
44.4
47.3
42.0
43.9
44.3
31.6
30.7
-6.9
September
SURVEY OF CURRENT BUSINESS
11
Table 1.13.—Gross Domestic Product of Corporate Business in Current Dollars and Gross Domestic Product of Nonfmancial Corporate Business
in Current and Constant Dollars
1980
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1981
1981
I
Gross domestic product of corporate
business
Capital consumption allowances with CCAdj
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments less subsidies
1982
II
HI
IV
1980
II
I
206.2
196.2
202.9
209.7
216.0
218.9
186.1
180.8
186.9
189.1
187.8
223.4
184.0
189.1
1,298.5 1,444.8 1,411.9 1,428.8 1,470.3 1,468.0 1,460.2 1,470.3
Domestic income
Compensation of em1,107.3 1,224.5 1,190.4 1,213.5 1,242.5 1,251.5 1,259.5 1,270.7
ployees
929.2 1,024.8
Wages and salaries
996.2 1,015.7 1,040.5 1,046.6 1,049.7 1,057.8
Supplements
to
199.7
194.2 197.8 202.1 204.9 209.8 212.9
wages and salaries... 178.0
Corporate profits with
IVA and CCAdj
151.3 167.8 176.5 164.3 172.2
158.3 140.2
137.2
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
IVA
CCAdj
Net interest
Gross
domestic
product of financial
corporate
business
Gross
domestic
product of nonfinancial corporate business
Capital consumption allowances with CCAdj
212.1
84.7
127.5
39.7
209.3
81.2
128.1
50.8
229.3
91.5
137.8
46.8
204.6
79.2
125.4
48.9
212.3
82.4
129.8
52.7
190.9
71.6
119.3
54.6
154.7
56.7
98.1
56.0
153.5
55.3
98.2
58.0
87.8
-43.0
-17.8
39.9
77.3
-24.6
168
52.5
91.0
-35.5
17 3
44.9
76.4
-22.8
-17.5
51.0
77.1
-23.0
17 1
55.6
64.7
-17.1
-15.5
58.3
42.0
44
-lO'.l
60.5
40.2
94
-6.9
62.4
Profits before tax
Profits tax liability ..
Profits after tax
Dividends
Undistributed
IVA P
CCAdj ..
Net interest
1,537.7 1,732.3 1,683.3 1,715.0 1,763.6 1,767.2 1,756.6 1,771.0
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments less subsidies
Domestic income
172.0
195.8
105.6
186.3
103.6
104.2
192.6
199.1
106.0
106.6
205.1
212.1
207.8
II
r
183.0
64.8
118.2
42.4
186.6
63.3
123.3
52.9
202.5
71.5
131.0
49.4
181.8
61.4
120.4
51.2
191.5
65.5
126.0
54.4
170.5
54.8
115.7
56.7
134.8
38.9
95.8
58.0
131.3
37.1
94.2
59.7
75.8
-43.0
-17.0
52.4
70.3
-24.6
-16.3
62.5
81.6
-35.5
-16.6
55.0
69.2
228
-16.9
61.2
71.6
-23.0
167
65.7
58.9
-17.1
15 1
68.1
37.8
-4.4
-10.0
70.5
34.5
-9.4
-7.1
72.6
858.8
857.9
Gross domestic product of nonfinancial
corporate business-
111.7
104.8
I
Billions of 1972 dollars
Capital consumption allowances with CCAdj
97.8
IV
1,365.7 1,536.5 1,497.0 1, 522 A 1,564.5 1,562.0 1,548.8 1,559.0
Net domestic product
Indirect business tax and
nontax liability plus
business transfer pay148.6
ments less subsidies
178.3
179.0
172.9
179.9
181.3
176.3
181.2
Domestic income
1,217.1 1,358.2 1,324.0 1,343.4 1,384.5 1,380.8 1,372.4 1,377.8
Compensation of em1,041.7 1,150.1 1,118.6 1,140.0 1,167.0 1,174.5 1,181.6 1,190.4
ployees
874.8
Wages and salaries
962.9
936.6
954.7
977.7
982.7
985.3 991.4
Supplements
to
187.1
182.1
wages and salaries ... 166.9
185.4
189.3
191.9
196.4
198.9
Corporate profits with
123.0
IVA and CCAdj
142.1
145.6
150.4
151.8
138.2
120.3
114.8
1,454.2 1,630.9 1,592.7 1,615.7 1,658.1 1,657.1 1,644.2 1,659.3
155.8
III
II
I
1,635.5 1,837.1 1,788.9 1,818.6 1,867.8 1,873.1 1,863.1 1,882.7
181.2
1982
1981
1981
r
860.3
881.3
883.0
884.2
887.5
870.4
90.1
94.3
92.7
93.8
94.9
96.0
97.0
98.1
770.2
787.0
790.2
790.4
792.6
774.5
761.8
759.8
93.0
677.2
94.7
692.2
94.6
695.7
94.4
696.0
95.2
697.4
94.7
679.8
94.6
667.2
95.0
664.8
Table 1.14-1.15.—Auto Output in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
1980
Auto output
..
Final sales
Personal consumption expenditures
New autos
Net purchases of used autos
Producers' durable equipment
New autos
Net purchases of used autos
Net exports
Exports
Imports
Government purchases
Change in business inventories
New
Used
Addenda:
Domestic output of new autos2 *
Sales of imported new autos
1981
I
II
III
78.7
59.8
69.2
66.1
73.7
60.9
60.6
45.7
14.9
12.1
21.1
-9.0
-12.8
4.0
16.8
1.0
-1.1
6
5
68.0
67.2
49.2
18.0
13.6
24.1
-10.5
-13.8
4.0
17.8
1.0
1.2
.9
.3
74.1
71.6
54.5
17.1
13.4
24.6
-11.2
119
4.2
16.2
1.0
-8.0
-9.1
1.0
63.3
63.0
45.4
17.6
13.1
22.4
-9.3
137
4.3
18.0
.9
10.4
11.3
9
49.1
21.4
54.6
24.5
52.4
24.7
59.5
23.9
Seasonally adjusted at annual rates
1980
1982
1981
IV
II r
I
1981
1981
I
1982
II
III
IV
II r
I
58.3
53.5
69.9
38.7
41.5
41.6
44.5
45.6
34.4
31.3
39.7
74.4
60.2
71.5
62.8
52.1
45.0
19.3 * 17.8
15.3
12.5
27.6
22.0
-12.3
-9.4
-13.4
-16.0
4.6
2.8
18.1
18.9
.9
1.1
4.3
-1.9
3.1
16
3
1.2
65.9
68.0
49.7
18.3
13.1
23.3
-10.2
-16.1
2.6
18.7
.9
-12.4
127
.3
64.5
67.8
50.0
17.8
13.4
22.9
-9.5
176
3.4
21.0
.9
5.4
5.8
-.4
39.4
35.8
28.3
7.5
8.3
13.0
-4.8
-5.4
2.5
7.9
.7
-.7
-.4
-.3
40.8
36.0
28.8
7.2
9.5
14.1
-4.6
-5.3
2.3
7.7
.7
.7
.6
.1
46.3
40.4
33.0
7.4
9.7
14.8
-5.1
-4.5
2.6
7.1
.7
-4.7
51
.5
38.2
33.9
26.7
7.3
8.9
13.1
-4.2
53
2.5
7.8
.6
6.3
6.7
-.4
43.7
37.4
30.0
7.5
10.7
15.8
-5.2
51
2.7
7.8
.7
1.8
1.3
.5
35.2
32.2
25.6
6.6
8.8
12.5
-3.7
65
1.6
8.0
.6
-.8
-!i
38.3
34.9
28.3
6.6
9.3
13.3
-4.0
-6.6
1.5
8.0
.6
-7.0
71
.1
37.0
34.4
28.2
6.2
9.3
12.9
-3.6
73
1.9
9.2
.6
2.7
2.8
-.1
37.8
27.6
53.3
26.6
30.5
13.3
31.9
14.3
31.7
15.0
34.9
14.0
35.4
14.0
25.5
14.4
21.6
15.7
30.1
15.0
61.6
24.3
44.8
25.2
_ y
Table 1.16-1.17.—Truck Output in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1980
Truck output l
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
. . .
Government purchases
Change in business inventories
....
1981
I
II
III
IV
I
1981
II r
1981
I
II
1982
III
IV
I
II r
26.1
27.8
26.9
30.1
26.5
27.7
29.4
32.9
13.9
13.3
13.3
14.6
12.6
12.9
13.9
15.6
28.2
7.5
18.0
-1.1
3.1
4.1
3.7
27.6
7.7
17.3
-1.6
3.3
4.9
4.3
27.8
7.2
17.2
-.7
3.6
4.3
4.1
29.5
7.9
18.2
-1.1
3.4
4.5
4.5
27.5
8.2
17.4
-2.5
3.2
5.7
4.4
25.8
7.4
16.6
-2.2
3.1
5.3
4.0
32.0
11.8
18.6
-2.6
2.9
5.5
4.3
29.7
11.6
17.0
-3.3
2.7
6.0
4.5
14.9
4.7
9.2
-.8
1.6
2.3
1.9
13.2
4.5
7.8
-1.0
1.5
2.5
1.9
13.8
4.4
8.1
-.6
1.7
2.3
1.9
14.2
4.7
8.3
-.8
1.5
2.4
2.0
13.0
4.7
7.7
-1.4
1.4
2.8
2.0
11.8
4.2
7.2
-1.3
1.3
2.6
1.7
15.1
6.7
8.0
-1.5
1.2
2.7
1.8
14.0
6.5
7.3
-1.7
1.1
2.8
1.9
.7
1.0
1.9
.1
.5
.4
-.5
1.0
-2.0
.2
-1.0
Table 1.14-1-15:
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.
Seasonally adjusted at annual rates
1980
1982
1981
-2.5
3.2
Table 1.16-1.17:
1. Includes new trucks only.
11
-1.2
1.6
SURVEY OF CURRENT BUSINESS
12
September
Table 2.2-2.3.—Personal Consumption Expenditures by Major Type of
Table 2.1.—Personal Income and Its Disposition
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1981
1980
1982
1981
II
I
Seasonally adjusted at annual rates
III
1980
II r
I
IV
1981
1981
I
1982
III
IV
I
II r
2,160.4 2,415.8 2,330.0 2,380.6 2,458.2 2,494.6 2,510.5
Personal income
Wage and salary disbursements
1,356.1 1,493.9 1,452.8 1,479.4 1,512.3 1,531.2 1,541.6 j ggg g
Government and government enterprises
Other labor income
Proprietors' income with
IV A nnH PP'AHi
468.0
354.4
330.5
297.4
510.8
386.4
361.4
338.6
499.2
377.0
352.1
325.2
507.2
386.9
358.7
333.7
519.3
392.9
366.5
342.8
517.7
388.7
368.3
352.8
514.3
385.1
371.4
359.5
260.2
283.1
276.2
279.8
283.8
292.4
296.5
127.2
140.4
135.3
138.4
142.2
145.8
149.1
335 g
375 4
ocn'c
db7 b
'
Motor vehicles and parts ...
Furniture and household
equipment
Other..
152 5
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
OtViPr
uiner
'
116.3
124.7
123.4
123.8
127.5
124.1
116.4
U7 3
19.4
96.9
24.0
100.7
21.6
101.8
22.5
101.2
27.1
100.4
24.6
99.5
17.8
98.6
i7 A
*'•*
99.9
Rental income of persons
with CCAdj
32.9
33.9
34.4
34.0
33.6
33.6
33.9
Personal dividend income
55.9
62.5
59.2
61.5
64.1
65.2
65.8
/»/; i
Personal interest income
263.4
329.0
304.7
320.6
339.6
351.0
359.7
297.2
336.3
322.8
327.0
344.8
350.7
354.6
372.0
365.2
154.2
182.0
171.0
173.7
190.6
192.8
194.7
197.5
16.1
15.0
15.4
16.1
15.7
16.0
15.1
15.9
14.1
16.0
16.7
16.4
18.7
16.3
23.5
16 1
43.0
69.0
49.2
73.6
47.2
72.9
49.1
73.2
49.6
74.4
50.8
74.0
51.5
73.3
54.4
73.8
12.4
56.6
13.4
60.3
13.1
59.8
13.4
59.8
13.5
61.0
13.4
60.6
13.2
60.1
132
60.6
88.7
104.9
102.5
104.1
106.1
107.0
110.6
Ill 4
336.3
386.7
371.2
384.2
398.1
393.2
393.4
401.2
Farm
Nonfarm
Services
Old-age, survivors, disability, and health insurance benefits
Government unemployment insurance benefits
Veterans benefits
Government
employees
retirement benefits
Other transfer payments....
Aid to families with de-
Less: Personal contributions for social insurance .
and
Equals: Disposable personal income
1,824.1 2,029.1 1,958.7 1,996.5 2,060.0 2,101.4 2,117.1 2,151.5
Less: Personal outlays
1,717.9 1,898.9 1,852.8 1,874.5 1,925.7 1,942.7 1,977.9 2,007.2
1,667.2 1,843.2 1,799.9 1,819.4 1,868.8 1,884.5 1,919.4 1 947 8
Interest paid by consumers to business
Personal transfer payments to foreigners
(net)
49.9
Equals: Personal saving
Addenda:
Disposable personal
income:
Total, billions of 1972
dollars
Per capita:
Current dollars
1972 dollars
Housing
Household operation
Electricity and gas
Transportation
Other
1,667.2 1,843.2 1,799.9 1,819.4 1,868.8 1,884.5 1,919.4 1,947.8
214.3
234.6
236.9
230.4
241.2
229.6
237.9
240.7
89.7
98.6
102.1
94.2
104.0
93.9
103.2
103.3
86.3
38.3
93.4
42.6
93.1
41.7
93.3
42.9
93.8
43.4
93.3
42.4
91.0
43.7
93.2
44.2
670.4
734.5
720.6
729.6
741.3
746.5
749.1
755.0
343.7
104.7
87.0
135.0
19.0
116.0
375.3
114.6
96.8
147.9
19.7
128.2
368.8
112.3
95.2
144.4
20.0
124.3
372.1
114.0
96.7
146.9
19.9
127.0
378.0
115.9
97.7
149.7
19.9
129.8
382.3
116.0
97.5
150.7
19.2
131.5
387.9
117.5
95.3
148.4
17.3
131.1
395.0
118.4
91.3
150.4
17.3
133.1
782.5
874.1
842.4
859.4
886.3
908.3
932.4
952.1
266.0
111.7
56.6
55.1
62.9
341.9
295.3
128.9
66.8
62.1
65.4
384.4
284.4
120.7
61.9
58.8
66.2
371.1
291.3
125.2
64.6
60.7
64.3
378.5
298.7
132.8
69.4
63.5
65.5
389.3
307.0
136.9
71.2
65.7
65.7
398.7
314.5
141.4
75.1
66.3
66.9
409.6
320.4
140.7
72.6
68.1
69.5
421.5
Billions of 1972 dollars
Other
Personal consumption ex-
Personal consumption expenditures
Durable goods
Commodity-producing
industries
Manufacturing
Distributive industries
Less: Personal tax
nontax payments
II
55.1
52.4
.8
.6
.5
106.2
130.2
105.9
54.4
56.2
57.8
58 4
.7
.7
.8
.9
134.4
158.6
139.1
144.3
.8
122.0
57.5
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
930.5
947.6
951.1
944.6
951.4
943.4
949.1
955.0
137.1
140.0
145.3
138.6
142.2
134.1
137.5
138.3
53.8
54.2
58.6
52.2
56.1
50.0
54.9
54.4
60.1
23.2
61.6
24.3
62.6
24.1
61.8
24.6
61.4
24.7
60.4
23.7
58.5
24.1
59.4
24.4
355.8
362.4
361.6
361.7
363.0
363.1
362.2
364.5
180.2
78.0
25.7
72.0
4.0
68.0
181.4
82.7
25.7
72.6
3.5
69.1
181.4
82.1
25.4
72.7
3.6
69.1
181.3
82.6
25.4
72.5
3.4
69.0
180.9
83.1
26.2
72.9
3.5
69.4
182.0
83.0
25.8
72.3
3.3
69.0
181.7
83.8
26.2
70.4
3.0
67.4
183.0
84.0
27.2
70.2
3.2
67.1
437.6
445.2
444.2
444.3
446.2
446.2
449.5
452.2
159.6
61.5
23.8
37.8
34.1
182.4
162.6
63.5
24.6
38.8
32.4
186.8
161.6
62.4
24.1
38.3
33.5
186.7
162.4
63.0
24.4
38.6
32.3
186.7
162.9
64.1
25.0
39.1
32.1
187.2
163.5
64.4
25.2
39.2
31.7
186.6
164.5
64.5
25.6
38.9
31.9
188.5
165.2
63.4
24.1
39.3
32.5
191.0
Table 3.14.— State and Local Government Social Insurance Funds
Receipts and Expenditures
[Billions of dollars]
1,018.0 1,043.1 1,035.0 1,036.6 1,048.8 1,051.9 1,046.9 1,054.8
8,012
4,472
Population (millions)
8,827
4,538
227.7
229.9
5.8
6.4
8,551
4,519
229.1
8,698
4,516
8,951
4,557
9,107
4,559
229.5
230.1
230.8
6.1
6.5
7.5
9,155
4,527
231.2
Personal saving as percentage of disposable
5.4
6.6
9,285
4 552
23 1 .7
67
Receipts
Contributions for social insurance
Personal contribution
Employer contributions
Government and government enterprises ....
Other
'.
Interest and dividends received
Expenditures
45.6
52.6
50.1
51.7
53.4
55.1
56.8
58.5
29.9
33.8
32.5
33.4
34.2
35.1
36.0
36.9
7.6
22.4
8.5
25.3
8.3
24.2
8.5
24.9
8.6
25.6
8.7
26.3
8.9
27.1
9.1
27.8
20.0
2.4
22.7
2.5
21.7
2.5
22.4
2.5
23.1
2.6
23.7
2.6
24.4
2.6
25.1
2.7
15.7
18.8
17.6
18.3
19.2
20.0
20.8
21.6
18.4
20.8
19.8
20.5
21.1
21.7
22.3
22.8
Table 3.14:
NOTE.—In this table, interest and dividends received are included in receipts; in tables 3.2 and
3.3, interest received and dividends received are netted against expenditures.
SURVEY OF CURRENT BUSINESS
September
Table 3.3.—State and Local Government Receipts and Expenditures
Table 3.2.—Federal Government Receipts and Expenditures
1980
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
540.7
Receipts
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Excise taxes
Customs duties
Nontaxes..
.. .
Contributions for social
insurance
Expenditures
628.2
620.0
II
III
IV
627.0
640.2
625.7
II r
I
609.9
IV
II r
I
416.8
410.0
415.2
420.3
421.5
424.2
434.3
78.8
42.8
28.1
7.9
88.6
48.3
32.0
8.3
84.8
46.2
30.4
8.2
87.2
47.5
31.4
8.3
90.3
49.3
32.6
8.4
92.3
50.1
33.7
8.5
93.6
50.2
34.8
8.6
95.4
50.8
35.9
8.7
14.4
13.9
15.4
13.6
14.0
12.5
10.1
10.2
174.1
82.8
68.4
22.9
192.8
90.4
75.1
27.2
187.1
88.9
72.3
25.9
190.4
89.2
74.3
27.0
195.5
91.8
76.0
27.8
198.0
91.8
77.8
28.4
201.5
92.6
79.8
29.2
206.9
95.0
81.8
30.0
35.1
36.0
36.9
286.4
279.7
6.5
.3
297.0
289.8
6.9
.3
307.9
300.6
7.1
.3
300.9
293.2
7.5
.3
299.9
291.1
8.5
.3
305.8
297.5
8.0
.3
70.3
67.3
76.1
65.6
68.4
59.1
46.5
45.2
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other
38.9
26.8
7.2
4.9
58.5
44.1
8.6
5.8
57.5
43.9
7.8
5.8
61.5
47.7
8.3
5.5
57.8
43.1
9.0
5.8
57.2
41.9
9.3
6.1
48.7
33.6
8.7
6.3
49.8
34.6
8.6
6.6
174.1
204.3
199.9
202.8
206.1
208.4
214.9
216.2
Contributions for social insurance
29.9
33.8
32.5
33.4
34.2
602.1
688.2
659.7
667.5
698.2
727.4
728.3
736.6
Federal grants-in-aid
88.7
87.7
90.2
90.6
86.3
83.6
83.0
85.0
396.5
402.2
217.0
143.1
73.9
218.2
150.5
67.7
230.0
154.4
75.7
250.5
166.9
83.6
249.7
166.2
83.5
244.3
176.2
68.2
Transfer payments
To persons
To foreigners
251.4
246.2
5.2
286.6
280.9
5.7
274.0
268.8
5.2
276.7
271.9
4.8
295.1
289.0
6.1
300.7
294.0
6.6
303.2
297.2
6.0
312.8
307.0
5.8
88.7
87.7
90.2
90.6
86.3
83.6
83.0
85.0
Expenditures
53.1
67.2
71.9
91.4
66.3
84.3
68.3
87.4
74.0
94.3
79.0
99.5
79.6
101.8
82.8
105.1
54.7
12.5
14.1
74.6
16.7
19.5
68.5
15.8
18.0
70.4
17.0
19.1
77.2
17.1
20.3
82.4
17.1
20.6
83.9
17.9
22.1
87.6
17.4
22.3
11.6
12.6
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises..
11.7
10.4
13.1
12.2
12.2
11.3
13.7
11.6
13.0
12.0
13.6
13.8
12.7
13.7
-1.3
-.9
-.9
-2.0
-1.0
.3
1.1
Less: Wage accruals less
disbursements
0
0
0
0
.2
-.1
-.2
Social insurance funds
Other
III
385.9
Receipts
298.1
290.8
7.0
.3
228.9
153.7
75.2
Surplus or deficit
(-), NIPA's
II
Personal tax and nontax
receipts
Income taxes
Nontaxes
..
Other
257.5
250.7
6.6
.2
197.2
131.4
65.8
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received
I
617.0
Purchases of goods and
services
National defense
Nondefense
Grants-in-aid to State and
local governments
1982
1981
1981
1980
1982
1981
1981
I
Personal tax and nontax
receipts
Income taxes
Estate and gift taxes
Nontaxes
13
-39.7
-40.5
-58.0 -101.7 -118.4 -119.6
-12.4
-49.0
-11.0
-49.0
-4.1
-35.6
-3.9
-36.6
-16.6
-41.4
385.0
378.6
382.2
386.9
341.2
368.0
361.1
365.0
370.1
375.7
380.4
386.6
189.9
151.3
207.4
160.6
201.7
159.3
205.6
159.4
209.2
161.0
213.0
162.7
217.1
163.2
221.4
165.2
39.6
43.0
42.0
42.8
43.3
43.9
44.3
44.7
Net interest paid
Interest paid . .
Less: Interest received
-14.8
20.3
35.0
-16.9
23.7
40.6
-15.7
22.2
37.9
-16.7
23.2
39.8
-17.4
24.2
41.5
-17.8
25.3
43.1
18.5
26.4
44.9
19.2
27.4
46.8
Less: Dividends received
2.1
2.6
2.3
2.5
2.7
2.8
3.0
3.2
Subsidies less current surplus of government
enterprises
Subsidies
Less: Current surplus of
government enterprises..
-6.2
.4
-6.5
.4
-6.4
.4
-6.4
.4
-6.5
.4
-6.6
.4
-6.6
.4
-6.7
.4
6.5
6.9
6.8
6.8
6.9
7.0
7.1
7.2
Less: Wage accruals less
disbursements
0
0
0
0
0
0
0
0
28.2
31.7
31.3
32.9
33.5
29.1
27.7
32.1
27.3
.9
31.8
.1
30.3
1.1
31.3
1.7
32.3
1.2
33.3
-4.2
34.5
-6.8
35.7
-3.6
Surplus or deficit
( ) NIPA's
0
-60.0
357.8
Transfer payments to persons
1.0
-61.4
-19.3
82 4
Purchases of goods and
services
Compensation of employees
Other
392.4
Social insurance funds
Other
-24.1
95 5
-16.4
1020
Table 3.7B-3.8B.—Government Purchases of Goods and Services by Type in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1980
1981
1981
I
Government purchases of goods and services
II
Seasonally adjusted at annual rates
1982
III
IV
I
1980
1981
II r
1982
1981
I
II
III
IV
I
11 r
538.4
596.9
578.1
583.2
600.2
626.3
630.1
630.9
284.6
287.1
286.8
283.9
286.4
291.3
289.2
285.3
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
197.2
131.4
33.6
10.7
84.1
53.2
30.5
22.7
30.8
3.0
228.9
153.7
40.1
12.6
98.0
60.8
35.6
25.2
37.2
3.0
217.0
143.1
36.1
12.1
92.2
58.5
34.1
24.4
33.7
2.7
218.2
150.5
40.0
13.2
94.4
59.2
34.4
24.9
35.1
2.9
230.0
154.4
41.6
11.9
98.0
59.8
34.6
25.2
38.1
2.9
250.5
166.9
42.7
13.2
107.6
65.6
39.4
26.2
42.0
3.4
249.7
166.2
43.1
13.6
106.0
66.3
39.7
26.5
39.8
3.5
244.3
176.2
48.9
13.4
110.7
66.5
39.8
26.7
44.1
3.3
106.5
70.1
18.3
2.4
47.9
32.2
18.9
13.3
15.7
1.5
110.4
73.5
19.7
2.6
49.9
32.8
19.3
13.5
17.1
1.4
107.9
71.0
18.6
2.6
48.5
32.5
19.2
13.3
16.0
1.3
107.0
72.9
19.9
2.7
49.0
32.7
19.2
13.5
16.3
1.3
110.7
74.3
20.2
2.4
50.3
33.0
19.3
13.6
17.3
1.3
116.0
76.1
20.1
2.6
51.8
33.1
19.4
13.6
18.8
1.5
114.4
74.5
19.9
2.8
50.3
33.2
19.5
13.7
17.1
1.5
110.3
78.2
21.7
2.8
52.3
33.3
19.5
13.7
19.1
1.4
Nondefense
Durable goods
Nondurable goods. . .
Services
Compensation of employees
Other services
Structures
65.8
2.8
4.3
52.2
29.7
22.5
6.6
75.2
2.5
11.0
55.0
31.5
23.5
6.8
73.9
2.7
8.8
55.1
31.3
23.8
7.2
67.7
2.5
3.7
54.7
31.3
23.3
6.8
75.7
2.1
12.3
54.4
31.1
23.2
6.8
83.6
2.5
18.9
55.7
32.2
23.5
6.4
83.5
2.8
18.4
56.1
32.4
23.7
6.3
68.2
2.6
4.8
54.7
32.4
22.3
6.0
36.4
1.6
2.1
29.6
17.3
12.3
3.1
36.8
1.3
4.1
28.4
16.9
11.5
3.1
36.9
1.5
3.1
29.0
17.1
12.0
3.3
34.1
1.3
1.0
28.6
17.0
11.6
3.1
36.5
1.1
4.2
28.1
16.8
11.3
3.0
39.9
1.2
7.9
27.9
16.7
11.2
2.8
39.8
1.3
8.1
27.7
16.6
11.1
2.7
32.1
1.3
1.4
26.8
16.5
10.3
2.6
341.2
11.2
27.0
257.6
189.9
67.7
45.4
368.0
12.0
30.3
282.8
207.4
75.4
42.9
361.1
11.7
29.1
274.1
201.7
72.3
46.3
365.0
11.9
29.9
280.7
205.6
75.1
42.4
370.1
12.1
30.7
285.9
209.2
76.7
41.4
375.7
12.2
31.3
290.6
213.0
77.6
41.6
380.4
12.3
31.7
296.1
217.1
79.0
40.3
386.6
12.4
31.8
302.3
221.4
80.8
40.1
178.1
6.1
11.3
140.1
105.9
34.2
20.6
176.7
6.0
11.4
140.7
106.3
34.4
18.6
179.0
6.0
11.3
141.4
106.8
34.6
20.3
176.9
6.0
11.3
141.2
106.5
34.7
18.5
175.7
6.0
11.5
140.4
106.1
34.3
17.9
175.3
5.9
11.6
139.9
106.0
33.9
17.9
174.9
5.9
11.7
140.0
106.0
34.0
17.2
175.0
5.9
11.8
140.0
105.9
34.1
17.2
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
14
SURVEY OF CURRENT BUSINESS
September
Table 4.1-4.2—Foreign Transactions in the National Income and Product Accounts in Current and Constant Dollars
Billions of 1972 dollars
Billions of dollars
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1980
I
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
••
Services
Factor income *
Other
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
.
...
Services
Factor income1
Other
rro
persu s ^ e ;........
S
gn
1980
1982
1981
1981
II
III
IV
I
II '
I
1982
1981
1981
II
III
IV
II r
I
340.4
368.4
366.5
370.0
368.3
369.0
359.9
365.8
339.2
220.1
128.9
91.1
367.3
231.9
134.4
97.4
365.4
237.3
134.2
103.1
368.9
236.0
140.1
95.9
367.2
226.3
133.2
93.1
367.9
227.8
130.1
97.8
359.9
221.4
123.9
97.5
365.8
218.9
123.9
95.0
159.2
93.1
56.1
36.9
158.5
89.8
51.8
38.0
159.3
92.8
53.6
39.2
159.7
91.7
54.7
37.1
157.8
87.0
50.3
36.6
156.9
87.6
48.6
39.0
151.7
84.0
45.2
38.8
154.4
83.5
44.8
38.7
119.2
75.2
44.0
135.5
86.1
49.4
128.1
81.1
47.0
132.9
84.2
48.7
140.8
89.6
51.3
140.1
89.5
50.6
138.5
85.9
52.6
146.8
93.8
53.0
66.1
42.6
23.5
68.7
44.5
24.2
66.5
43.1
23.4
68.0
44.0
24.0
70.9
45.9
25.0
69.3
44.8
24.5
67.7
42.5
25.1
70.9
45.9
25.0
1.2
1.1
1.1
1.1
1.1
1.1
0
0
340.4
368.4
366.5
370.0
368.3
369.0
359.9
365.8
314.0
244.0
110.0
134.0
341.3
260.1
123.7
136.4
334.2
255.8
115.4
140.4
345.1
263.3
122.7
140.6
341.3
257.9
126.3
131.7
344.4
263.5
130.5
133.1
328.6
243.9
125.4
118.5
330.9
241.1
127.7
113.4
108.6
74.5
48.0
26.5
116.4
79.1
51.9
27.2
111.1
74.6
48.3
26.3
115.5
77.6
51.1
26.5
118.7
80.3
53.0
27.3
120.4
83.8
55.2
28.6
114.7
76.7
51.6
25.1
118.7
78.6
52.0
26.6
70.0
29.1
40.9
81.1
36.9
44.2
78.4
34.1
44.3
81.8
37.5
44.3
83.4
39.9
43.5
80.9
36.1
44.8
84.7
40.0
44.7
89.8
44.3
45.5
34.1
16.5
17.6
37.4
19.1
18.3
36.5
18.1
18.4
38.0
19.6
18.3
38.4
20.4
18.0
36.6
18.1
18.5
38.1
19.8
18.2
40.1
21.7
18.4
6.0
.8
5.2
6.3
.6
5.7
5.7
.5
5.2
5.5
.8
4.8
6.7
.7
6.1
7.3
.7
6.6
6.9
.8
6.0
6.7
.9
5.8
12.5
16.7
15.8
17.0
17.1
17.1
17.9
17.4
7.8
4.1
10.8
2.3
3.1
.1
6.5
10.8
Table 4-1-4-2:
1. Equals rest-of-the-world production as shown in tables i.o-i.6.
Table 4.3-4.4.—Merchandise Exports and Imports by Type of Product and by End-Use Category in Current and Constant Dollars
Billions of dollars
Billions of 1972 dollars
Seasonally adjusted at annual rates
1980
1981
1981
I
II
Seasonally adjusted at annual rates
1980
1982
III
IV
I
II r
1981
1982
1981
I
II
III
IV
II r
I
Merchandise exports
220.1
231.9
237.3
236.0
226.3
227.8
221.4
218.9
93.1
89.8
92.8
91.7
87.0
87.6
84.0
Foods, feeds, and beverages
35.7
38.3
44.0
38.7
34.9
35.7
36.0
36.6
15.2
15.5
16.7
15.1
14.6
15.7
15.7
16.4
Industrial supplies and materials
Durable goods
Nondurable goods
68.1
24.6
43.4
65.4
20.4
45.0
67.5
21.9
45.6
63.7
21.4
42.4
63.4
19.0
44.4
67.1
19.4
47.7
66.5
17.9
48.6
63.1
17.6
45.4
24.1
8.7
15.4
22.3
7.0
15.4
23.1
7.5
15.6
21.7
7.3
14.4
21.5
6.5
15.1
22.9
6.6
16.3
22.9
6.1
16.7
21.9
6.1
15.8
28.6
83.5
74.2
81.7
80.5
84.4
80.9
80.8
77.4
77.1
34.9
32.9
33.9
34.5
31.8
31.2
29.0
Autos
17.2
19.1
19.0
20.5
20.2
16.8
17.3
17.9
6.9
6.7
7.0
7.3
6.9
5.5
5.6
5.7
Consumer goods
Durable goods
Nondurable goods
16.6
8.8
7.8
16.3
7.7
8.6
16.7
8.0
8.7
16.7
7.9
8.8
16.3
7.8
8.5
15.5
7.1
8.4
14.7
6.6
8.1
15.3
6.8
8.5
8.5
3.9
4.6
8.1
3.2
5.0
8.4
3.4
5.0
8.5
3.2
5.2
8.1
3.1
4.9
7.6
2.9
4.7
7.2
2.6
4.5
7.6
2.7
4.8
Other
Durable goods
Nondurable goods
8.2
4.1
4.1
11.1
5.5
5.5
9.7
4.8
4.8
12.0
6.0
6.0
10.7
5.4
5.4
11.9
5.9
5.9
9.5
4.8
4.8
8.9
4.4
4.4
3.5
1.7
1.7
4.3
2.1
2.1
3.8
1.9
1.9
4.7
2.3
2.3
4.1
2.1
2.1
4.6
2.3
2.3
3.6
1.8
1.8
3.4
1.7
1.7
78.6
Capital goods, except autos..
...
Merchandise imports
244.0
260.1
255.8
263.3
257.9
263.5
243.9
241.1
74.5
79.1
74.6
77.6
80.3
83.8
76.7
Foods, feeds, and beverages
18.1
18.1
19.5
18.0
17.8
17.2
14.9
17.2
6.7
7.0
7.0
6.7
7.0
7.2
6.1
7.2
Industrial supplies and materials, excluding petroleum
Durable goods
Nondurable goods
..
50.0
29.1
20.9
56.3
33.3
23.0
53.7
31.1
22.6
56.8
34.4
22.4
57.8
34.4
23.4
56.8
33.2
23.6
54.1
31.7
22.4
51.2
29.1
22.2
17.1
9.9
7.1
19.0
11.2
7.8
18.1
10.5
7.6
19.0
11.5
7.5
19.5
11.6
7.9
19.4
11.3
8.1
18.3
10.7
7.6
17.7
10.0
7.7
Petroleum and products
79.4
77.6
82.1
83.2
72.6
72.4
62.6
53.7
6.9
6.0
6.2
6.2
5.7
5.8
5.0
4.5
Capital goods, except autos
30.3
34.6
32.7
33.2
35.1
37.3
35.1
36.4
15.4
18.0
16.3
17.1
18.6
20.1
17.9
18.2
Autos
27.0
29.7
26.8
29.9
30.8
31.4
30.6
35.7
10.9
10.3
9.7
10.6
10.7
10.4
9.8
11.6
Consumer goods
Durable goods
Nondurable goods
34.4
21.2
13.3
38.7
23.5
15.1
36.9
22.8
14.1
37.2
22.7
14.5
38.7
23.4
15.3
41.9
25.3
16.7
40.5
24.9
15.6
38.2
22.2
16.0
15.7
10.9
4.8
16.7
11.3
5.4
15.8
11.1
4.7
16.0
10.9
5.1
16.8
11.1
5.6
18.3
12.1
6.2
17.1
11.9
5.1
16.0
10.5
5.5
Other
Durable goods
Nondurable goods
4.6
2.3
2.3
5.2
2.6
2.6
4.0
2.0
2.0
5.2
2.6
2.6
5.1
2.5
2.5
6.5
3.3
3.3
6.0
3.0
3.0
8.8
4.4
4.4
1.9
1.0
1.0
2.1
1.0
1.0
1.6
.8
.8
2.0
1.0
1.0
2.0
1.0
1.0
2.7
1.3
1.3
2.4
1.2
1.2
3.5
1.7
1.7
42.2
177.9
164.6
44.3
187.6
182.6
50.3
187.0
173.7
44.6
191.4
180.1
39.8
186.6
185.3
42.4
185.5
191.2
42.0
179.4
181.3
42.6
176.3
187.5
18.0
75.1
67.6
18.0
71.8
73.1
19.2
73.6
68.4
17.5
74.2
71.4
16.6
70.4
74.5
18.5
69.1
78.0
18.4
65.5
71.6
19.2
64.3
74.1
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports of nonpetroleum products
September
SURVEY OF CURRENT BUSINESS
Table 5.1.—Gross Saving and Investment
15
Table 5.10-5.11.—Inventories and Final Sales of Business in Current
and Constant Dollars
Billions of dollars
Billions of dollars
Seasonally adjusted at annual rates
1980
II
I
Gross saving
II r
I
461.4
482.4
490.0
476.3
428.8
441.5
438.3
106.2
504.7
130.2
468.7
105.9
488.9
122.0
513.4
134.4
547.7
158.6
519.4
139.1
529.0
144.3
42.0
44.3
31.6
44.4
47.3
43.9
38.9
46.1
82.2
84.0
76.9
85.8 100.1
99.7
4.4
-43.0 -24.6 -35.5 -22.8 -23.0 -17.1
-17.8 -16.8 -17.3 -17.5 -17.1 -15.5 -10.1
30.7
47.0
9.4
-6.9
Noncorporate
Wage accruals less disbursements .
181.2
112.0
0
206.2
123.9
0
196.2
119.2
0
-8.3
-33.2 -28.2
-61.4 -60.0 -39.7
31.7
28.2
31.3
.
by
IV
477.5
Capital consumption allowances
with CCAdj:
Capital grants received
United States (net)
III
.... 406.2
Gross private saving
Personal saving
Undistributed corporate profits
with IVA and CCAdj
Undistributed profits
IVA
CCAdj
Government surplus or
deficit (-), NIPA's
Federal
State and local
Seasonally adjusted quarterly totals
1982
1981
1981
the
202.9
122.1
0
209.7
125.5
0
216.0
128.7
0
218.9
129.8
0
223.4
130.5
0
-7.6 -24.5 -72.5 -90.7 -87.5
40.5
58.0 10L7 -1184 -119.6
32.1
29.1
27.7
32.9
33.5
1.2
1.1
1.1
1.1
1.1
1.1
0
0
410.2
475.6
466.5
477.8
489.1
469.0
421.3
442.3
Gross private domestic investment- 402.3
7.8
Net foreign investment
471.5
4.1
455.7
10.8
475.5
2.3
486.0
3.1
468.9
.1
414.8
6.5
431.5
10.8
-1.9
-5.1
-4.6
-7.2
-7.5
Gross investment
Statistical discrepancy
3.9
-.8
-.8
Table 5.8-5.9.—Change in Business Inventories by Industry in Current
and Constant Dollars
Seasonally adjusted at annual rates
1980
Change in business inventories
Farm
Nonfarm
....
Change
in book value
IVA 1
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Nondurable g"oods
Nonmerchant wholesalers
Durable goods
Nondurable goods
Retail trade
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
-10.0
20.5
1982
1981
1981
I
III
IV
12.2
24.6
31.8
13.2 -35.6
7.2
5.3
2.2
5.5
-4.3
24.6
19.3
10.0
15.0
-5.7
48.9
45.0
53.7
43.5
45.3
51.1 -28.6 -43.7 -25.7 -24.3
1.4
1.3
.1
.6
1.0
-.4
1.3
1.3
0
-.7
3
-.5
-5.6
-5.4
2
-2.1
0
6.0
4.4
1.7
2.8
2.7
.1
3.0
2.8
.3
-.2
0
-.2
6.5
2.6
3.8
-.3
-1.0
.7
I
II
12.7
5.8
6.9
-.6
-1.4
.7
-4.9
-1.4
-3.6
4.3
0
4.3
-2.3
-3.9
1.6
.2
1.7
-1.5
5.0
3.6
1.5
3.1
4.3
-1.2
5.5
4.4
1.1
-2.4
-.1
23
14.9
11.2
3.8
37
-.5
-3.2
15.1
15.4
3
-1.6
2.8
-4.4
.6
1.7
-1.0
-2.2
1.1
33
11.6
4.3
7.3
5
-2.7
2.2
.4
7.2
6.0 -36.0
26.6 -30.5
5.6
20.5
IF
-16.2
-1.2
15.0
-4.6
10.4
87 -17.8 -21.0
-7.2 -14.8
-9.1
-1.4
30 -11.9
2.4
10.4 -12.5
-.7
5.3 -6.6
3.1
5.1 -5.8
7.6
10.9 -8.1
0
6.3
51
7.5
4.6 -3.1
-5.1
-.5 -4.3
-.7
-1.0
-1.5
28 -4.4
.5
2.9
1.7 -8.7
3.2
-1.0
-8.6
-.3
2.7
0
.7
2.7
2.9
0
-2.7
-.8
.7
5.4
3.7
Billions of 1972 dollars
Change in business inventories
Farm
Nonfarm
Change
in book value
IVA 1
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
-5.0
9.0
2.4
12.1
16.5
4.8 -15.4
-2.1
29
2.1
6.8
.4
2.0
1.9
10.2
3.0
13.6
3.2
1.6
.2
156
-.6
38
.9
1.0
-.1
.3
.4
_i
'.5
.6
-.1
-.2
-.1
-.1
-3.0
-3.0
0
-1.0
-1.0
0
2.6
1.9
.7
1.5
1.2
.3
1.5
1.2
.3
0
0
0
3.1
1.2
1.8
-.2
-.5
.2
4.2
2.3
1.9
-1.8
-1.0
-.5
-2.1
10
-1.1
.6
0
.6
9
-2.1
1.2
.1
.8
-.6
2.1
1.8
.3
1.8
2.0
-.2
2.1
2.0
.1
3
0
-.3
7.0
5.5
1.6
-.8
-.2
-.6
7.6
6.5
1.0
1.1
1.4
-.3
1.0
.9
0
.1
.5
-.3
5.5
1.9
3.5
-.6
-1.2
.7
36
-3.1
5
4.5
2.3
2.2
4.8
2.7
2.1
3
-.4
.1
.6
-.4
1.0
.2
-1.2
1.4
81
-6.5
-1.6
-4.5
-2.7
-1.9
-3.4
20
-1.4
-1.1
-.7
-.5
40
-4.2
.2
1.0
3
1.4
73
-3.7
37
1.8
4
2.2
2.8
1
2.9
-1.0
-.3
7
1.3
1.4
-.1
.4
0
.4
4.4
II
III
IV
I
II r
Inventories l
Farm . ...
Nonfarm
Durable goods
Nondurable goods
791.6
85.9
705.7
395.1
310.6
804.2
86.5
717.7
406.3
311.5
814.3
81.5
732.8
418.5
314.2
822.4
81.8
740.5
421.8
318.8
809.7
84.5
725.2
412.3
312.9
812.5
86.4
726.1
413.0
313.1
Manufacturing
Durable goods
Nondurable goods
352.6
223.0
129.6
357.2
227.6
129.6
365.1
235.8
129.3
366.4
236.8
129.6
358.1
231.4
126.7
352.7
229.9
122.7
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods ....
156.5
95.4
61.0
123.3
80.0
43.3
33.2
15.5
17.7
158.1
98.2
59.8
126.0
82.6
43.5
32.0
15.7
16.3
159.5
100.7
58.8
127.4
84.6
42.8
32.1
16.2
16.0
163.0
103.0
60.0
130.8
86.9
43.9
32.2
16.1
16.1
158.4
101.5
56.9
128.5
85.9
42.6
29.9
15.6
14.3
160.8
102.0
58.8
131.7
86.5
45.2
29.1
15.5
13.6
Retail trade
Durable goods
Nondurable goods ..
Other ..
129.0
57.8
71.3
67.6
134.2
61.3
72.9
68.3
139.1
63.6
75.5
69.1
140.7
64.1
76.6
70.5
137.6
61.8
75.8
71.1
140.2
63.3
77.0
72.4
201.8
128.3
203.3
128.1
208.5
130.6
210.4
130.7
213.8
132.2
215.5
132.1
3.92
3.50
3.96
3.53
3.91
3.51
3.91
3.52
3.79
3.39
3.77
3.37
5.50
5.60
5.61
5.67
5.48
5.50
Final sales *
Final sales of goods and structures ...
Ratio: Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods
and structures.
Billions of 1972 dollars
Inventories
l
339.2
342.3
346.4
347.6
343.7
342.6
41.2
298.0
180.7
117.4
41.7
300.6
182.9
117.6
42.4
304.0
185.1
118.9
43.2
304.4
184.5
119.9
43.3
300.5
181.0
119.4
43.1
299.5
180.4
119.1
146.9
100.5
46.5
147.5
100.9
46.6
149.4
102.5
46.8
148.4
101.8
46.7
146.4
100.1
46.3
144.6
99.2
45.4
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
64.6
43.1
21.6
53.4
36.0
17.3
11.3
7.1
4.2
65.1
43.6
21.5
53.9
36.5
17.4
11.2
7.0
4.2
65.4
43.9
21.4
54.1
36.7
17.4
11.2
7.2
4.1
66.5
44.5
22.0
55.3
37.4
17.9
11.1
7.1
4.1
65.3
43.8
21.5
54.5
36.9
17.6
10.9
6.9
4.0
65.8
43.7
22.1
55.2
36.9
18.3
10.6
6.8
3.8
Retail trade
Durable goods
Nondurable goods
Other
62.8
28.6
34.2
23.6
64.6
30.0
34.6
23.4
65.9
30.4
35.5
23.3
66.1
30.3
35.7
23.4
65.1
29.3
35.8
23.6
65.4
29.7
35.7
23.7
106.4
67.7
105.2
66.4
105.5
66.4
104.6
65.6
105.0
65.8
104.6
65.0
3.19
2.80
3.25
2.86
3.28
2.88
3.32
2.91
3.27
2.86
3.28
2.86
4.40
4.53
4.58
4.64
4.57
4.60
Farm
Nonfarm
Durable goods
Nondurable goods
Billions of dollars
1982
1981
I
Manufacturing
Durable goods
Nondurable goods .
Final sales 2
Final sales of goods and structures
Ratio: Inventories to final sales
Nonfarm inventories to final sales ..
Nonfarm inventories to final sales of goods
and structures
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.
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.
16
SURVEY OF CURRENT BUSINESS
Table 6.4.—National Income Without Capital Consumption Adjustment
by Industry
September
Table 7.1-7.2.—Implicit Price Deflators and Fixed-Weighted Price
Indexes, 1972 Weights, for Gross National Product
Billions of dollars
Implicit price deflators, 1972=100
Seasonally adjusted at annual rates
1980
1981
1981
I
National
income
without CCAdj
III
II
Seasonally adjusted
1982
IV
1980
Ur
I
2,174.2 2,410.6 2,351.6 2,382.8 2,446.0 2,462.1 2,447.6 2,470.1
Domestic industries
2,128.2 2,361.4 2,304.6 2,336.1 2,396.3 2,408.8 2,401.7 2,420.6
Private industries
1,822.0 2,025.4 1,977.6 2,004.3 2,059.0 2,060.9 2,048.6 2,062.6
Agriculture,
forestry,
and fisheries
Mining
Construction
58.5
37.4
108.5
68.7
44.9
113.4
64.0
42.8
114.9
66.5
40.9
112.3
72.7
47.0
112.8
71.6
49.0
113.4
66.1
49.3
112.9
66.6
45.5
112.8
Manufacturing
Durable goods
Nondurable goods
525.6
309.4
216.2
580.8
344.8
236.0
570.4
340.8
229.6
584.1
352.3
231.8
595.4
349.3
246.1
573.1
336.7
236.4
555.2
323.1
232.1
556.0
326.8
229.1
171.1
81.2
48.9
190.9
87.0
55.3
185.8
87.4
53.3
186.1
86.4
53.0
193.9
87.6
56.8
197.7
86.5
58.3
198.5
85.3
59.3
200.2
87.1
59.2
41.0
48.6
45.1
46.8
49.6
52.8
53.8
53.9
..
Transportation and
public utilities
Transportation
Communication
Electric, gas, and
sanitary services
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
137.4
178.3
155.8
197.5
151.6
193.2
152.7
196.0
156.0
201.6
162.9
199.1
157.3
203.6
154.6
205.7
295.5
309.9
324.2
349.4
318.3
336.6
320.8
344.8
326.2
353.4
331.5
362.7
336.4
369.3
345.0
376.1
Government and government enterprises
306.2
336.0
326.9
331.9
337.3
347.9
353.2
358.0
46.1
49.2
47.1
46.6
49.7
53.3
45.8
49.5
Rest of the world ..
Gross national product
Billions of dollars
Seasonally adjusted at annual rates
I
Corporate
profits
with
IVA
and
C€Adj
.. .
Domestic industries
Financial
Nonfinancial
III
II r
I
IV
190.6
200.3
185.1
193.1
183.9
157.1
155.4
151.3
28.3
123.0
167.8
22.2
145.6
176.5
26.1
150.4
164.3
22.2
142.1
172.2
20.3
151.8
158.3
20.1
138.2
140.2
19.9
120.3
137.2
22.4
114.8
30.3
22.8
23.8
20.8
21.0
25.7
16.9
18.2
199.4
207.5
217.6
202.6
210.3
199.4
167.2
162.2
profits
Domestic industries
II
181.6
Rest of the world
Corporate
with IVA
1982
1981
1981
169.1
184.6
193.8
181.7
189.3
173.7
150.3
144.1
Financial
Federal Reserve BanksOther
29.2
11.9
17.2
22.7
14.5
8.1
26.8
13.2
13.6
22.7
14.2
8.6
20.8
15.2
5.5
20.4
15.6
4.8
20.0
16.1
3.9
22.2
16.0
6.2
Nonfinancial
Manufacturing
Durable goods
Primary metal industries
Fabricated
metal
products
Machinery, except
electrical
Electric and electronic equipment ..
Motor vehicles and
equipment
Other
140.0
74.5
20.7
162.0
86.3
28.4
167.0
90.3
32.1
159.0
88.9
35.2
168.5
92.2
27.4
153.3
73.7
18.9
130.4
57.7
9.1
121.9
56.6
12.7
-3.1
-6.5
2.9
4.1
7.0
4.7
4.1
.7
4.4
4.9
4.7
6.0
5.4
3.4
4.4
3.8
7.2
9.3
8.4
9.2
9.6
9.9
8.3
4.8
4.4
5.1
6.2
4.9
4.8
4.3
3.6
3.7
-5.0
6.8
-1.1
6.2
-2.6
8.4
2.6
7.8
-2.8
6.3
-1.8
2.4
53.8
57.9
58.2
53.7
64.8
54.7
48.6
43.9
6.2
8.7
10.4
8.5
7.7
8.1
6.7
6.3
6.7
8.2
9.4
7.5
8.0
7.8
6.5
5.8
28.0
13.0
26.6
14.4
23.5
14.9
23.3
14.4
35.1
14.1
24.7
14.1
25.4
10.0
20.4
11.4
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
-4.1
0
3.3
3.5
17.4
19.1
20.1
15.6
19.6
21.2
18.8
18.5
24.6
23.4
33.4
23.1
33.0
23.6
32.1
22.5
33.0
23.7
35.7
22.7
31.9
21.9
26.8
20.0
30.3
22.8
23.8
20.8
21.0
25.7
16.9
18.2
1982
1981
I
II
HI
IV
I
II r
178.64 195.51 190.01 193.17 197.36 201.55 203.68 205.98
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
179.2
156.3
188.4
178.8
194.5
167.5
202.7
196.3
189.2
163.0
199.3
189.6
192.6
166.2
201.7
193.4
196.4
169.7
204.2
198.6
199.8
171.3
205.6
203.6
202.2
173.0
206.8
207.4
204.0
174.0
207.1
210.6
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment ..
Residential
Nonfarm structures
Farm structures
Producers' durable equipment ..
Change in business inventories
193.3
186.1
227.7
169.0
218.5
221.7
218.8
149.2
208.0
201.3
251.5
179.8
233.6
237.1
236.9
159.4
202.3
194.5
241.5
175.1
229.0
232.2
227.3
155.4
207.4
200.7
249.1
179.9
231.7
234.9
233.4
158.3
209.4
203.0
252.7
181.4
235.8
239.4
237.9
161.3
212.9
206.8
261.9
182.5
239.2
243.3
242.7
162.8
213.6
207.6
264.5
181.9
240.5
244.3
243.8
165.7
216.6
211.3
267.6
184.6
238.6
242.1
242.0
168.1
Net exports of goods and
services
Exports
Imports
213.1
289.3
231.8
293.1
229.3
300.7
230.9
298.8
232.6
287.7
234.5
286.1
237.3
286.4
236.8
278.8
Government purchases of
goods and services
Federal
National defense
Nondefense
State and local
189.2
185.2
187.4
181.0
191.6
207.9
207.4
209.0
204.2
208.2
201.5
201.2
201.7
200.3
201.7
205.5
204.0
206.4
198.9
206.3
209.5
207.8
207.9
207.4
210.7
215.0
216.0
219.5
209.4
214.3
217.8
218.3
223.0
209.6
217.5
221.1
221.6
225.2
212.6
220.9
Fixed-weighted price indexe s, 1972 = 100
184.4
202.0
195.9
199.9
204.2
208.4
210.8
213.0
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
184.8
160.4
195.8
183.0
202.1
172.9
212.8
202.1
196.6
167.6
209.2
194.8
200.2
171.5
212.1
199.2
203.9
175.1
214.0
204.5
207.5
177.4
215.9
209.9
209.9
179.0
217.2
213.8
211.7
181.0
216.4
217.6
Gross private domestic
investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment ..
Residential
Change in business inventories
204.1
196.0
219.3
182.6
219.5
220.9
213.5
237.3
199.8
235.0
215.0
207.1
231.0
193.4
229.9
219.0
211.7
235.0
198.3
233.0
223.2
215.6
239.4
201.9
237.5
226.8
219.3
243.0
205.6
241.2
229.2
222.0
245.7
208.4
242.7
230.4
225.0
248.6
211.5
240.7
Net exports of goods and
services
Exports
Imports
218.6
303.7
239.3
319.0
235.4
322.6
238.4
323.4
241.1
316.3
242.5
314.0
245.6
319.1
246.3
313.6
Government purchases of
goods and services
Federal
National defense
Nondefense
State and local
193.8
192.7
196.5
182.8
194.6
212.2
214.7
219.7
201.7
210.6
206.0
208.1
211.6
199.1
204.6
210.3
212.2
217.4
198.8
209.0
213.6
214.5
219.6
201.6
212.9
219.3
223.9
230.1
207.9
216.1
222.4
227.1
233.4
211.0
219.2
224.5
228.4
234.6
212.6
221.9
Addenda:
189.8
Gross domestic purchases *
184.3
Final sales
Final sales to domestic purchas189.8
ers *
207.2
202.0
201.5
195.8
205.3
199.8
209.0
204.2
213.0
208.4
215.6
210.9
217.3
213.0
207.2
201.5
205.4
209.0
213.0
215.6
217.4
208.8
205.5
207.3
210.6
211.7
215.3
217.3
359.6
351.2
260.6
360.4
366.1
361.9
348.9
185.5
179.7
183.4
187.6
191.6
194.3
197.3
202.1
203.4
203.3
195.9
197.1
199.9
201.2
204.2
205.7
208.5
209.4
210.9
211.8
213.0
213.8
Gross national product
Table 6.20.—Corporate Profits by Industry
1980
1981
Personal consumption expendi193.0
tures, food
Personal consumption expendi316.1
tures energy
•».
Other personal consumption ex170.3
penditures
Gross domestic product
Business
Nonfarm
184.4
185.6
185.3
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.
September
SURVEY OF CURRENT BUSINESS
Table 7.3.—Implicit Price Deflators for Gross National Product by
Major Type of Product
17
Table 7.7.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar
Gross Domestic Product of Nonfinancial Corporate Business
Index numbers, 1972 = 100
Dollars
Seasonally adjusted
1980
1981
I
Gross national product..
Seasonally adjusted
1981
II
1982
III
IV
1980 1981
II r
I
178.64 195.51 190.01 193.17 197.36 201.55 203.68 205.98
178.7
195.3
189.5
193.1
197.4
201.3
204.0
206.5
171.0
187.0
182.6
185.0
188.9
191.5
191.8
193.5
Final sales
Change in business inventories
171.2
186.4
181.5
184.7
188.8
190.9
192.7
194.6
Durable goods
Final sales
Change in business inventories
Nondurable goods
Final sales
Change in business inventories
165.6
165.9
180.2
179.5
174.6
173.9
179.7
178.9
183.1
181.8
183.5
183.9
182.0
184.2
185.8
186.5
175.0
175.2
192.0
191.5
188.7
187.3
189.1
189.0
193.2
194.0
197.0
195.8
198.3
198.7
199.8
200.4
Final sales
Change in business inventories
Goods
Services
178.4
196.1
189.5
193.3
198.2
203.5
207.2
210.3
Structures
223.4
241.8
234.6
239.7
243.7
249.7
251.8
252.5
Addenda:
183.2
Gross domestic purchases *
Final l sales to domestic purchasers .
183.3
199.3
194.1
197.4
200.9
205.0
206.7
208.7
199.2
193.6
197.4
200.9
204.8
207.0
209.2
1981
I
II
Capital consumption allowances with CCAdj ....
Net domestic product
Indirect business tax and nontax liability
plus business transfer payments less subsidies
Domestic income
Compensation of employees
Corporate profits with
IVA and CCAdj
Profits tax liability
Profits after tax with IVA and CCAdj ....
Net interest..
.173 .202 .196 .202 .203 .208 .205 .211
1.415 1.541 1.500 1.519 1.560 1.586 1.598 1.606
1.211 1.305 1.267 1.289 1.315 1.349 1.376 1.388
.143
.075
.068
.061
.165
.072
.093
.071
.170
.081
.089
.062
.161
.069
.091
.069
Farm
Statistical discrepancy
Households and institutions
Private households
Nonprofit institutions
Federal
.
State and local
Rest of the world
Addendum:
Gross domestic business product
g
190.01
190.0
190.2
189.7
192.1
169.6
207.4
190.2
193.17
193.2
193.3
193.0
195.4
172.7
203.6
193.3
197.36
197.4
197.6
197.7
200.2
176.5
195.8
197.6
201.55
201.6
201.4
202.0
204.6
180.4
185.5
201.4
203.68
203.7
203.3
203.7
206.2
183.5
191.1
203.3
205.98
206.0
205.5
205.8
208.2
185.9
197.1
205.5
186.6
195.6
185.9
205.5
212.1
2050
198.7
206.2
198.1
203.6
209.7
203.1
207.8
214.2
207.3
211.9
218.4
211.4
216.1
232.7
215.0
219.8
229.4
219.1
1756
167.5
179.4
192.1
185.7
195.0
186.5
181.3
189.0
189.6
182.1
193.0
192.6
182.8
197.2
199.6
196.7
200.9
202.8
198.2
204.9
205.7
198.6
209.0
176.7
193.6
188.2
191.3
195.4
199.5
201.8
204.3
1804
1974
Gross national product
178.4
195.51 190.01 193.17 197.36 201.55 203.68 205.98
Less: Capital consumption allow196.0
ances with CCAdj
»
212.1
205.7
209.0
214.4
218.5
218.9
220.1
176.7
193.6
188.2
191.3
195.4
199.5
201.8
204.3
Equals* Net national product ..
Less:
Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus
current surplus of government
Statistical discrepancy
Equals* National income
175.8
178.0
175.6
180.4
193.3
197.6
201.4
203.3
205.5
193.3
197.8
202.2
205.1
207.3
174.7
170.0
174.6
178.8
195.6
190.2
179.8
195.9
190.5
Table 7.3:
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.
.140
.045
.095
.082
.134
.043
.091
.085
Seasonally adjusted
1981
I
II
III
1982
IV
I
II r
154.6 166.8 158.8 165.8 172.7 169.7 171.0 176.0
Final sales
Personal consumption expenditures
New autos
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
Addenda:
Domestic output of new autos2
Sales of imported new autos
l
154.5 166.5 160.2 165.8 170.1 171.3 172.2 174.3
169.2 186.8 177.4 185.6 190.8 195.0 194.9 196.9
161.1 170.9 165.2 170.3 173.8 175.4 175.5 177.0
146.2 142.8 138.4 147.0 143.3 142.6 140.7 144.4
161.6 171.4 165.6 170.8 174.0 175.6 175.8 177.2
159.4 172.8 166.0 172.9 174.9 180.2 178.8 180.0
213.5 232.1 229.0 231.6 232.9 234.6 232.9 227.5
144.1 144.1 141.8 144.3 146.6 143.2 143.0 144.6
161.2 171.3 165.4 170.6 173.9 175.7 175.2 177.2
161.3 171.1 165.3 170.4 173.8 175.5 175.6 177.1
Table 7.9.—Implicit Price Deflators for Truck Output
188.7 2086 2021 2064 211 3 2153 211 5 2109
Final sales
Personal consumption expenditures
Producers' durable equipment
Net exports
Exports
Imports
Government purchases
Change in business inventories
188.6 209.4 201.9 2079 211 2 217 8 211 7 212 1
1610 1712 1653 1705 1738 1754 175 6 177 0
196.6 2217 2125 2197 2248 2314 231 1 2340
1950 2197 2106 217 6 224 2 2289 231 1 233 4
1764 1955 1853 1916 2016 2016 2019 2104
1975 2218 2125 2196 2247 231 4 231 0 2340
Table 7.11.—Implicit Price Deflators for Personal Consumption
Expenditures by Major Type of Product
Personal consumption expenditures
1514
.159
.063
.096
.078
Index numbers, 1972=100
Truck output l
Table 7.5.—Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income
.171
.074
.097
.074
Table 7.8.—Implicit Price Deflators for Auto Output
Auto output
195.51
195.5
195.6
195.5
198.0
174.8
197.4
195.6
II r
I
.200 .222 .211 .218 .224 .236 .242 .247
1.587 1.743 1.695 1.722 1.763 1.795 1.803 1.817
Table 7.4—Implicit Price Deflators for Gross National Product by
Sector
178.64
178.7
178.8
178.4
180.5
160.9
191.0
178.8
1982
IV
Current-dollar cost and profit per unit
of constant-dollar
gross domestic
product J
1.787 1.966 1.906 1.940 1.987 2.030 2.045 2.064
1980 1981
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
III
179.2 194.5 189.2 192.6 196.4 199.8 202.2 204.0
Durable goods
Motor vehicles and parts ...
Furniture and household equipment
Other
1563
1668
1436
1652
167 5
1818
1517
175 6
1630
1743
1487
1730
166 2
1806
1509
1744
1697
1852
1529
1760
171 3
1880
1544
1790
173 0
1880
1557
1812
174 Q
1898
1568
1807
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
188.4
1908
134.3
338.7
1875
470.6
1707
2027
2069
1385
3767
2038
5716
1854
1993
2033
1369
3741
1986
555.2
1800
201 7
2052
1380
381 2
2026
577.1
1839
2042
2089
1395
3731
2055
574.6
1870
2056
2101
1397
3785
2085
580.7
1907
2068
2134
1402
3639
2107
568.5
1946
207 1
2158
1408
3359
214 1
544.1
1985
178.8
1667
1816
238.1
1461
184.5
1875
1963
1816
2032
2709
1601
2019
2058
1896
1760
1934
2572
1534
1975
1988
1934
1794
1989
2652
157 1
1992
2028
1986
1834
2073
2777
1624
2040
2080
2036
1878
2126
2829
1675
2073
2137
2074
191 1
2191
2934
1703
2097
2172
2106
193 9
2219
3009
1734
2137
2206
Services
Housing
Household operation
Electricity and gas
Other
Transportation
Other
. ..
. ..
18
SURVEY OF CURRENT BUSINESS
Table 7.14B.—Implicit Price Deflators for Government Purchases of
Goods and Services by Type
September
Table 7.17.—Implicit Price Deflators for Merchandise Exports and
Imports by Type of Product and by End-Use Category
Index numbers, 1972=100
Index numbers, 1972=100
Seasonally adjusted at annual rates
1980
I
Government purchases of
goods and services
189.2
185.2
Federal
207.9
207.4
II
201.5
201.2
205.5
204.0
Seasonally adjusted at annual rates
1982
1981
1981
III
IV
209.5
215.0
207.8
216.0
1980
II r
I
217.8
218.3
221.1
221.6
187.4
183.5
437.2
175.7
209.0
203.5
486.9
196.5
201.7
194.0
459.9
190.4
206.4
201.1
495.9
192.4
207.9
205.6
488.8
194.9
219.5
212.6
503.0
207.5
223.0
216.4
479.5
210.8
225.2
225.4
472.2
211.5
165.3
161.0
171.4
197.0
203.8
185.3
184.8
186.0
217.9
221.5
180.2
178.1
183.2
211.1
213.8
180.9
178.7
184.0
215.6
219.5
181.5
179.3
184.7
220.3
224.2
198.5
203.1
192.0
223.4
227.5
199.6
203.5
194.0
232.7
231.4
200.0
203.6
194.8
231.7
235.4
181.0
174.2
204.2
194.0
200.3
188.2
198.9
190.0
207.4
196.7
209.4
202.9
209.6
206.3
212.6
209.8
176.6
193.3
189.8
191.0
193.3
199.5
202.6
203.9
.. . .
171.5
183.9
208.3
186.5
203.4
222.6
183.4
199.0
217.8
184.4
200.7
221.0
185.3
205.1
224.5
193.1
209.0
227.8
195.3
213.4
230.5
196.0
216.7
231.8
State and local
....
Durable goods
Nondurable goods
Services
Compensation of employeesOther services
Structures
191.6
183.0
238.6
183.8
179.4
197.7
220.8
208.2
200.5
265.3
201.0
195.0
219.5
230.3
201.7
194.5
257.7
193.8
189.0
208.8
227.8
206.3
199.0
266.1
198.8
193.0
216.5
229.8
210.7
202.6
267.7
203.7
197.2
223.9
231.7
214.3
206.0
269.5
207.7
200.9
229.0
232.3
217.5
206.5
270.5
211.6
204.9
232.3
233.6
220.9
208.4
269.6
215.8
209.0
236.9
232.8
Nations! defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures
. ...
Nondefense
Durable goods
Services
Compensation of
employees
Other services
Structures
Table 7.16.—Implicit Price Deflators for Exports and Imports of Goods
and Services
Index numbers, 1972=100
Seasonally adjusted at annual rates
1980
1982
1981
1981
I
II
III
IV
I
II r
Exports of goods and services
213.1
231.8
229.3
230.9
232.6
234.5
237.3
236.8
Merchandise
Durable goods
Nondurable goods
236.4
329.7
246.6
258.3
259.5
256.6
255.6
250.2
263.1
257.3
256.4
258.5
260.2
264.7
254.0
260.2
267.8
250.7
263.6
274.0
251.4
262.0
276.4
245.5
Services
Factor income
Other
180.3
176.4
187.4
197.3
193.7
203.8
192.6
188.2
200.5
195.4
191.3
203.0
198.8
195.4
205.0
202.1
199.5
206.6
204.7
201.8
209.5
207.2
204.3
212.5
289.3
293.1
300.7
298.8
287.7
286.1
286.4
278.8
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
327.7
229.2
506.1
329.0
238.4
501.9
342.8
238.9
534.0
339.5
240.3
530.5
321.4
238.4
482.3
314.3
236.4
464.6
318.1
242.9
473.0
306.7
245.5
426.4
Services
Factor income
Other
205.4
176.6
232.4
217.1
193.6
241.7
214.6
188.2
240.5
215.5
191.2
241.5
217.2
195.4
242.0
221.3
199.5
242.5
222.5
201.8
245.0
224.1
204.2
247.5
1981
1981
I
1982
II
III
IV
II r
I
Merchandise exports
236.4
258.3
255.6
257.3
260.2
260.2
263.6
262.0
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
235.0
246.9
263.1
256.2
239.1
228.0
228.6
223.3
282.9
282.9
282.8
293.2
293.2
293.2
292.6
292.5
292.6
293.4
293.5
293.4
294.2
294.2
294.2
292.6
292.5
292.6
29LO
291.0
291.0
287.8
287.8
287.8
Capital goods, except autos
Autos
Consumer goods .. .
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
212.4
249.6
195.9
228.2
169.1
235.7
235.7
235.7
248.4
286.4
200.7
244.1
173.1
258.3
258.3
258.3
237.6
270.5
199.2
237.5
173.5
255.8
255.8
255.8
244.5
281.6
197.5
242.9
169.2
257.3
257.3
257.3
254.3
294.3
202.1
248.4
172.5
260.0
260.0
260.0
258.6
303.4
204.2
248.3
177.4
260.0
260.0
260.0
266.6
308.7
205.6
249.8
179.8
263.4
263.4
263.4
269.7
315.0
202.9
249.3
176.5
262.1
262.3
262.0
Merchandise imports
327.7
329.0
342.8
339.5
321.4
314.3
318.1
306.7
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum
Durable goods
Nondurable goods
Petroleum and products
270.1
259.3
277.1
268.2
254.4
238.2
243.4
239.4
293.1 296.8 297.5 299.7 296.4 293.5 296.1 290.1
293.0 296.9 296.6 300.0 297.0 293.7 296.6 290.4
293.3 296.7 298.8 299.3 295.7 293.2 295.5 289.7
1,155.4 1,297.1 1,319.6 1,348.8 1,267.9 1,246.8 1,248.2 1,181.0
Capital goods except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
197.5
248.5
219.7
195.1
275.2
243.5
243.4
243.6
191.9
288.0
231.3
208.3
279.3
249.2
249.2
249.2
201.0
277.4
233.9
205.2
302.4
254.3
254.3
254.3
193.7
282.7
232.1
208.4
282.2
252.0
252.0
252.0
189.3
288.2
231.0
210.5
271.4
248.4
248.2
248.6
185.4
303.3
228.8
209.1
266.9
244.8
244.9
244.6
195.5
311.0
237.4
209.0
303.2
252.5
252.5
252.5
200.0
307.7
239.0
211.5
291.6
252.9
252.8
253.1
Addenda:
Exports:
Agricultural products
Nonagricultural products
Imports
of
nonpetroleum
products
234.3
236.9
246.3
261.3
261.8
254.0
254.3
258.0
239.3
265.2
229.1
268.5
227.8
273.7
222.0
274.0
243.5
249.8
253.9
252.3
248.6
245.0
253.0
253.1
Table 7.21.—Implicit Price Deflators for Inventories and Final Sales of
Business
Index numbers, 1972=100
Seasonally adjusted at annual rates
1980
1981
1982
1981
I
II
III
IV
I
II r
Inventories 1
233.4
235.0
235.1
236.6
235.6
237.1
Farm
Nonfarm
Durable goods
Nondurable goods
208.4
236.8
218.7
264.6
207.5
238.8
222.1
264.8
192.1
241.1
226.1
264.3
189.3
243.3
228.6
265.9
195.3
241.4
227.7
262.0
200.4
242.4
229.0
262.8
Manufacturing
Durable goods
Nondurable goods . .
240.0
222.0
278.8
242.2
225.5
278.4
244.4
229.9
276.2
246.8
232.6
277.7
244.6
231.1
273.8
243.9
231.7
270.6
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
242.1
221.6
283.0
231.1
222.0
249.8
294.2
219.2
419.5
242.9
225.5
277.9
233.9
226.1
250.4
285.9
222.6
393.4
244.1
229.4
274.2
235.4
230.1
246.5
286.2
225.6
393.0
245.2
231.6
272.6
236.4
232.4
244.9
288.7
227.8
394.1
242.4
231.7
264.3
235.9
232.8
242.4
275.3
225.9
361.1
244.4
233.3
266.2
238.6
234.4
247.1
274.2
227.3
358.4
Retail trade
Durable goods
Nondurable goods
Other....
205.4
202.0
208.2
286.1
207.8
204.6
210.5
291.3
210.9
208.9
212.6
296.4
212.9
211.3
214.2
301.7
211.5
210.9
211.9
300.9
214.4
213.4
215.3
305.2
189.6
193.2
197.7
201.2
203.7
206.1
189.5
192.9
196.8
199.4
201.1
203.0
Final sales 2 ..
Final sales of goods and structures
SURVEY OF CURRENT BUSINESS
September
19
Table 8.1.—Percent Change From Preceding Period in Gross National Product in Current and Constant Dollars, Implicit Price Deflator, and Price
Indexes
Percent
Percent at annual rates
Percent at annual rates
Percent
Seasonally adjusted
1980 1981
I
Gross national product:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Personal consumption expenditures:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
8.9 11.6
4 1.9
9.3 9.4
9.0 9.4
9.9 9.6
10.6 10.6
.3 1.8
10.3 8.6
10.7 9.1
11.2 9.3
Seasonally adjusted
1981
II
19.6
5.3
7.9 -1.5
10.9
6.8
9.3
8.2
10.0
8.4
1982
III
11.4
2.2
9.0
9.2
8.9
IV
3.0
53
8.8
8.4
8.5
I
-1.0
51
4.3
5.0
4.8
II r
6.8
2.1
4.6
4.6
4.1
13.0
4.4
4.4 -2.7
8.3
7.3
10.3
7.4
10.9
7.7
11.3
2.9
8.2
8.0
7.6
3.4
-3.3
7.0
7.2
7.1
7.6
2.5
5.0
5.2
4.8
6.1
2.5
3.5
3.6
3.2
20.2 -17.9
10.7
209
8.5
3.8
5.6
7.9
8.6
5.3
15.1
10.4
4.2
3.8
3.7
4.9
2.5
2.3
3.7
4.5
Durable goods:
Current dollars
1972 dollars
Implicit price deflators
Chain price index
Fixed-weighted price index
.4
69
7.8
8.4
8.5
9.4
2.2
7.1
7.5
7.8
23.5 -10.5
17.8 172
4.8
8.1
5.1
8.5
5.2
9.7
Nondurable goods:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
11.7
.8
10.9
11.8
12.4
9.6
1.8
7.6
8.4
8.7
12.0
2.9
8.9
12.3
13.4
5.1
.1
4.9
5.5
5.5
6.5
1.5
5.0
4.3
3.7
2.9
0
2.8
3.5
3.6
1.4
-1.0
2.4
2.9
2.4
3.2
2.6
.6
4
-1.4
Services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
12.8 11.7
2.4 1.7
10.2 9.8
10.5 10.1
10.8 10.4
11.1
1.5
9.4
10.0
10.3
8.3
.1
8.2
8.8
9.3
13.2
1.7
11.2
11.3
11.2
10.3
0
10.3
10.7
11.0
11.0
3.0
7.8
7.6
7.6
8.7
2.4
6.2
6.9
7.3
52.2
25.0
18.5
14.9
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
Nonresidential:
-4.9
-11.8
.9
-6.9
8.3
9.9
10.1
17.2
8.4
9.4
1.7
7.6
8.2
8.2
9.2 -13.3 -38.8
6.9
22 6 -36.5
15.3
6.8
3.0
6.4 -3.4 -1.0
8.4 10.5
4.0
9.0
8.0
7.5
9.4
7.7
7.8
1.3
-5.0
6.7
7.1
6.7
6.5 12.0
-2.2
3.5
9.0 8.1
10.1 8.6
10.6 8.9
16.7
8.0
8.0
8.5
8.8
14.5
1.1
13.3
8.9
9.0
14.3
9.3
4.6
7.3
7.7
8.4
.6
7.8
7.3
7.0-
12.5 17.4
1972 dollars
6.3
-1.1
13.8 10.4
12.0 9.1
Chain price index
Fixed-weighted price index.... 11.9 8.2
Producers' durable
equipment:
3.5 8.9
Current dollars
-2.7
2.4
1972 dollars
6.4 6.4
9.2 8.3
Chain price index
9.8 9.4
Fixed-weighted price index....
27.3
18.5
7.4
9.7
8.6
27.3
12.4
13.2
8.0
7.0
19.1
12.6
5.8
8.6
7.8
22.3
5.9
15.5
8.6
6.1
11.2
7.7
4.1 -3.3
6.8 11.4
7.9
9.4
8.9 10.4
11.6
7.8
3.4
6.6
7.5
.7
-1.7
2.4
6.6
7.5
1972 dollars
Chain price index
Fixed- weighted price index
Structures:
Residential:
1972 dollars
Implicit price deflator
Fixed-weighted price index
130 1.7
-20.2 -4.8
9.0 6.9
9.3 7.1
9.3 7.1
Exports:
Current dollars
1972 dollars
Implicit price deflator
Chain price deflator
Fixed-weighted price index
20.6
8.9
10.7
10.6
10.9
8.3
-.4
8.8
9.5
9.5
Imports:
Current dollars
1972 dollars
P
17.1
4
17.5
8.7
7.2
1.3
-4.6
60
1.5
4.9
4.2
-2.4
-7.6
5.6
3.7
2.2
6.4
1.6
4.7
5.5
4.8
-8.8 -12.4
-7.6 -17.4
6.0
-1.3
5.7
5.7
6.1
5.5
11.5 13 4 -27.0 -20.8
-8.4
1.0 -17.4 -31.9 -25.3 -10.2
10.4
4.8
6.0
2.0
7.2
10.4
5.4
2.7
8.1
6.3
10.4
5.4
8.1
6.3
2.6
23.3
11.3
10.8
11.6
11.5
17.2
15.0
-5.3
-3.5
-5.0 -11.8
7.4
1.5
5.6
5.5
5.6
5.1
5.3
1.3
4.0
5.2
4.4
9.4
12.9
31
-3.1
-3.4
3.9 -1.8
1.0 -4.7
2.9
3.0
4.8
4.7
5.2
4.7
.8 -8.4
-2.4 -12.7
3.2
4.9
2.8
5.1
2.4
5.1
6.7
7.5
8
1.2
1.2
14.4 13.8 -4.3
5.8 16.8 11.3
8.0 -2.6 -14.0
3.7 -17.1
17.5
6.0
2.2
.5
2.8
14.5
10.2
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=100) is
weighted by the ratio of the quantity of the item valued in 1972 prices to the total output in 1972
prices. Changes in the implicit price deflator reflect both changes in prices and changes in the
1981
1980 1981
I
Chain price index
Fixed-weighted price index
Government purchases of goods and
services:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
25.3
24.2
6.1
5.0
13.1
10.5
II
1982
III
.8
71
1.0 -8.4
IV
I
II r
-1.8
-3.0
8.4
6.7
-4.3
67
.6
53
6.2
5.1
4.0
13.5 10.9
2.3
.9
11.0 9.9
10.9 9.5
11.9 9.5
13.7
3.6
5.2 -4.1
8.1
8.0
7.7
8.9
8.0
8.5
12.2
3.6
8.2
7.2
6.5
18.6
7.0
10.8
11.3
11.1
2.4
-2.9
5.5
6.3
5.8
17.1
4.2
12.4
11.6
13.7
16.1
3.7
12.0
10.6
11.4
20.9
2.2
12.2 -3.2
7.8
5.6
6.7
7.3
8.6
8.0
23.5
14.8
7.6
4.8
4.6
40.7
20.4
16.8
18.3
18.6
-1.4
83
-5.5 -13.5
4.4
6.1
6.4
3.3
5.9
2.3
National defense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
17.5
4.0
12.9
12.1
14.5
17.0
4.9
11.5
11.5
11.8
15.4
8.0
6.8
6.9
6.8
22.1
11.5
9.6
9.6
11.3
10.8
7.6
3.0
5.4
4.2
36.7
10.1
24.2
20.5
20.6
-1.8
-7.9
6.5
7.5
5.8
Nondefense:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
16.5 14.3
4.6 1.3
11.3 12.8
10.7 8.8
11.5 10.3
32.4 -29.3
20.7 -27.4
9.7 -2.7
6.3
2.9
14.0 -.6
55.7
31.6
18.3
3.5
5.7
49.0
43.6
3.8
14.0
13.1
9.7
4.4
1.3 -4.6
8.3
9.4
8.3
9.8
7.5
8.9
5.7
-2.7
8.7
8.7
7.8
6.2
8
7.0
7.0
6.2
5.0
-1.1
6.2
6.2
5.7
6.7
.4
6.3
6.2
5.2
6.4
4
6.9
7.8
7.9
11.1
3.7
7.2
7.7
7.4
3.4
-4.7
8.5
7.9
7.8
-2.1
-5.3
3.5
5.4
4.9
6.4
2.5
3.8
4.0
3.2
Federal:
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-weigh ted price index
11.5
1.1
10.3
10.5
10.8
7.9
8
8.7
8.8
8.2
26.4
21.4
4.1
3.3
2.0
4
55 7
-.9 -58.1
.5
5.8
4.3
3.3
6.2
3.1
Addenda:
Gross domestic purchases:
Current dollars
1972 dollars
Implicit price deflator.
Chain price index
Fixed-weighted price index
8.5 11.6
-1.3
2.6
9.9 8.8
10.6 9.0
11.1 9.1
Final sales:
Current dollars...
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
10.0 10.4
.5 1.0
9.5 9.3
9.0 9.4
9.9 9.6
14.6
3.5
5.4 -4.0
8.7
7.8
9.4
8.3
10.1
8.4
10.4
1.0
9.3
9.3
8.9
5.7
23
8.1
8.5
8.6
5.6
.2
5.4
5.0
4.8
4.1
-.9
5.0
4.5
4.1
Final sales to domestic purchasers:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weigh ted price index
9.5 10.4
-.5 1.6
10.0 8.7
10.6 9.0
11.2 9.2
13.5
4.6
4.8 -3.1
8.3
7.9
9.6
7.8
10.0
7.9
10.1
2.5
7.5
7.8
7.4
6.1
-1.6
7.8
8.0
7.9
4.6
.1
4.5
5.4
4.9
3.6
-.6
4.2
3.9
3.2
8.9 11.7
4 2.0
9.3 9.4
9.0 9.4
9.9 9.6
19.3
5.4
7.6 -1.3
10.9
6.8
9.3
8.2
10.0
8.4
11.1
2.0
9.0
9.2
8.9
2.6
57
8.8
8.4
8.5
0
41
4.3
5.0
4.8
6.4
1.7
4.6
4.6
4.1
8.6 11.8
7 2.2
9.4 9.4
9.0 9.4
10.1 9.6
20.8
5.1
8.4 -1.5
11.4
6.7
9.5
8.4
10.4
8.6
11.9
2.4
9.3
9.6
9.3
.7
67
8.0
7.6
7.4
-1.3
49
3.8
4.7
4.4
6.4
2.0
4.3
4.3
3.8
9.0 12.0
1.0 2.2
10.0 9.6
9.5 9.6
10.6 9.7
19.4
6.8
11.8
6.4
-.6
7.1
10.4
.3
10.1
2.1
64
9.1
-.4
37
3.5
4.8
.7
4.1
10.5 11.2
.2 2.5
12.3
3.7
7.9
.6
13.4
4.8
8.3
1.2
3.0
-1.9
6.7
3.1
Gross domestic product:
Current dollars...
1972 dollars
Implicit price deflator
Chain price index .
Fixed-weighted price index
Business:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Nonfarm:
Current dollars
1972 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Disposable personal
income:
Current dollars
1972 dollars
18.5
7.4
10.4
9.4
9.9
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.
20
SURVEY OF CURRENT BUSINESS
September
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National
Income and Products Accounts (NIPA's) to Balance on Goods and
Services in the Balance of Payments Accounts (BPA's)
Table 2.—Real Gross National Product and National Income, Command
Over Goods and Services, and Related Series
[Billions of 1972 dollars]
[Billions of dollars, seasonally adjusted at-annual rates]
Seasonally adjusted at annual rates
1982
Exports of goods and services BPA's
Less: Gold, BPA's
Capital gains net of losses in direct investment income receipts
Statistical differences *
Other items
Equals* Exports of goods and services NIPA's
1980
I
II
1
2
3608
1.7
3651
1.4
3
4
5
6
21
.2
1.1
3599
-28
.2
.5
3658
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 1
Other items .
Plus- Gold NIPA's
Equals: Imports of goods and services, NIPA's
7
8
9
348.3
179
3.0
350.0
174
2.6
10
11
12
13
14
-5
.5
-3
-.5
2
328.6
1
330.9
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)
Equals* Net exports of goods and services NIPA's (6-14)
15
16
17
18
19
20
21
12.5
11
-1.6
7
1l
17.9
31.3
152
10
-2.5
7
5
17.4
34.9
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the
NIPA's.
1981
1981
II
III
1982
IV
I
II
GNP
1,474.0 1,502.6 1,502.2 1,510.4 1,490.1 1,470.7 1,478.4
1,423.4 1,460.6 1,458.0 1,471.2 1,453.6 1,433.8 1,442.6
Gross domestic purchases
Net exports of goods and services .
50.6
42.0
44.2
39.2
36.5
36.9
35.7
National income
1,177.6 1,200.8 1,202.6 1,207.0 1,189.2 1,168.5 1,170.1
Command, GNP basis
1,432.1 1,469.5 1,465.9 1,480.2 1,461.8 1,444.7 1,455.1
1,423.4 1,460.6 1,458.0 1,471.2 1,453.6 1,433.8 1,442.6
Gross domestic purchases
Net exports
of
goods
and
services 1
8.7
8.9
7.9
9.0
8.2
10.9
12.5
Command, national income basis.... 1,140.4 1,171.2 1,170.2 1,180.1 1,164.0 1,145.4 1,149.5
Percent change from preceding period
GNP
Command GNP basis
National income
Command, national income basis
Addendum:
Terms of trade 2
-.4
-1.1
14
-2.2
1.9
2.6
2.0
2.7
-1.5
-1.1
6
-.2
2.2
3.9
1.5
3.4
-5.3
49
-5.8
-5.3
51
-4.6
-6.8
-6.2
2.1
2.9
.6
1.5
73.7
79.1
77.3
80.9
82.0
82.9
85.0
1. Equals current-dollar net exports of goods and services deflated by the implicit price
deflator for imports of goods and services.
2. Equals the ratio of the implicit price deflator for exports of goods and services to the
implicit price deflator for imports of goods and services.
By JOSEPH C. WAKEFIELD
Federal Budget Developments
YEAR after Congress passed the
largest tax reduction in history—the
Economic Recovery Tax Act of 1981—
the Federal government was faced
with mounting deficits over the next
3 years. As a means of reducing these
deficits, Congress passed, in midAugust, the Tax Equity and Fiscal Responsibility Act of 1982; it was signed
in early September. Over a 3-year
period—calendar years 1982-84—the
act provides $75 billion in additional
receipts, $6 billion in net expenditures reductions, and hence a reduction of $81 billion in the Federal deficit on the national income and product accounting (NIPA) basis (table 1).
Major features of the act are:
• Withholding of 10 percent on interest and dividend payments, effective July 1, 1983.
• Strengthening of compliance provisions, such as the reporting of
State and local government
income tax refunds.
• Modification of the deductions for
medical expenses and casualty
losses, generally effective January 1, 1983.
• Repeal of modified coinsurance
transactions, effective January 1,
1982, and introduction of other
changes that reduce insurance industry taxes.
• Repeal of safe-harbor leasing, effective January 1, 1984, and enactment of various other modifications and restrictions for leasing that are generally effective
July 1, 1982.
• Modification and tightening of
regulations governing long-term
contract accounting, effective
January 1, 1983 for new contracts.
• Temporary increases in airport
and airway taxes, cigarette taxes,
and telephone taxes.
• An increase in the wage base and
tax rate for unemployment taxes,
effective January 1, 1983.
• Extension of coverage to Federal
employees of hospital insurance
under medicare, effective January 1, 1983.
• Payment of supplemental unemployment benefits up to 10 additional weeks, effective September
12, 1982, through March 31, 1983;
and
• Reduction in medicare and medicaid spending, generally effective
October 1, 1982.
Receipts
Receipts are increased in each of
the 3 years: $2.3 billion in 1982
(mostly in corporate profits tax accruals), $31.9 billion in 1983, and $40.9
billion in 1984.
Personal tax and nontax receipts
Personal tax and nontax receipts
are increased $13.0 billion in 1983 and
$15.7 billion in 1984. Withheld income
taxes account for a significant part of
the 1983 increase and more than account for the 1984 increase, largely
due to the 10-percent withholding of
interest and dividend payments. Various other compliance provisions, including the reporting of State and
local income tax refunds, interest,
and tips, also increase withholdings.
The exemption of certain independent
contractors, such as real estate
agents, from withholding reduces
taxes slightly.
Declarations and net settlements
are increased by a number of provisions, although on balance they decline after 1983 due to the withholding provision for interest and dividends. As individuals pay taxes on interest and dividends throughout the
year, their declarations and net settlements will be reduced.
Among the provisions increasing
declarations and net settlements are
the modifications to the deductions
for medical expenses and casualty
losses. The act repeals, effective January 1, 1983, the deduction for one-half
of health insurance premiums (up to
$150) and increases to 5 percent from
3 percent the amount by which medical expenses must exceed adjusted
gross income to be deductible. The deduction for prescription drug costs exceeding 1 percent of adjusted gross
income is also repealed, effective January 1, 1984. Thereafter, only legally
prescribed drugs and insulin are deductible. The act establishes a new
floor for casualty losses at 10 percent
of adjusted gross income. Combined,
these two provisions increase taxes
$2.3 billion in 1984. Repeal of the 15percent add-on minimum tax and revision of the alternative minimum tax
increases taxes $0.7 billion. The reduction of the income thresholds—
from $20,000 to $12,000 for single returns and from $25,000 to $18,000 for
joint returns—that limits the inclusion of unemployment benefits in adjusted gross income increases taxes
$0.6 billion.
Corporate profits tax accruals
Corporate profits tax accruals are
increased $9.9 billion in 1983 and
$15.2 billion in 1984. A few of the provisions, particularly those relating to
insurance (retroactively effective to
January 1, 1982), affect taxes in 1982.
The safe-harbor leasing modifications
and restrictions, including restrictions
on the amount of deductions for accelerated depreciation and the investment tax credit (generally effective
July 1, 1982), increase corporate taxes
$3.7 billion in 1984. Other major provisions increasing these taxes are: (1)
limitations on the tax benefits that
arise from mergers and acquisitions;
(2) modification and tightening of regulations governing long-term contract
accounting; (3) requiring the amortization of construction interest and
taxes over 10 years instead of allow21
22
ing deduction on a current basis; (4)
modification to the investment tax
credit, such as requiring deduction of
one-half of the value of credits before
computing depreciation for a new
asset, instead of allowing the depreciation of the full value; and, (5) a 15percent reduction, generally effective
January 1, 1983, in several corporate
tax preferences, such as deductions
for mining exploration and development and for depletion of coal and
iron ore.
Indirect business tax and nontax accruals
Indirect business tax and nontax
accruals are increased $5.1 billion in
SURVEY OF CURRENT BUSINESS
September
1983 and $5.7 billion in 1984. Various
changes, generally effective from September 1, 1983 through December 31,
1987, increase airport and airway
taxes; these changes include: (1) the 5percent tax on domestic air passenger
tickets is increased to 8 percent; (2)
the 4-cents-per-gallon tax on other
noncommercial aviation fuels is increased to 12 cents; (3) the imposition
of a 14-cents-per-gallon tax on other
noncommercial aviation fuels; (4) the
reimposition of the 5-percent tax on
air freight waybills; and (5) the reimposition of the $3 per person international departure tax. Other excise tax
increases are for cigarettes and telephone services. The tax of 4 cents per
package of cigarettes is doubled, effective January 1, 1983, through September 30, 1985. A special tax is also imposed on cigarette floor stocks removed before the effective date, and
held for sale on that date. The current 1-percent telephone tax (which
was scheduled to expire after 1984) is
increased to 3 percent for calendar
years 1983-85. The act also repeals a
windfall profit tax adjustment for certain Alaskan oil, effective January 1,
1983.
Contributions for social insurance
Contributions for social insurance
are increased $3.9 billion in 1983 and
$4.3 billion in 1984. The increase in
Table 1.—Impact of the Tax Equity and Fiscal Responsibility Act of 1982 on Federal Receipts and Expenditures, NIPA Basis
[Billions of dollars]
Seasonally adjusted at annual rates
Calendar year
1982
1983
1982
1984
I
2.3
Receipts
Withheld income tax
Compliance provisions:
Other
Other
Compliance provisions:
Interest and dividends
Other
IT
1
n H t"
f
t h*>
Mergers and acquisitions
Indirect business tax and nontax accruals
Airport a n d airway
Cigarettes
Telephone
Windfall profit tax
. . . .
Expenditures
42.2
39.5
38.7
40.4
41.9
42.7
5.0
2.1
23.0
21.6
19.4
21.0
15.6
20.9
15.7
21.3
15.6
21.6
15.9
22.2
9.5
2.4
2
1.3
18.8
3.0
3
58
2.2
-.1
2.6
2.3
-.2
2.9
19.3
2.5
-.2
1.4
18.7
2.6
-.3
-1.6
18.4
2.8
-.3
-5.3
18.6
3.0
-.3
-5.6
18.9
3.0
-.3
-6.0
19.3
3.2
-.3
-6.3
-4.5
1.6
.8
1.8
.7
-11.0
-.4
1.3
.6
1.6
.7
.7
.9
-11.4
-.4
1.3
.6
1.6
.7
.7
.9
-11.8
-.4
1.3
.5
1.6
.7
.8
1.0
.5
.4
.1
5.1
1.2
2.4
1.3
.2
5.7
1.4
2.5
1.5
.3
3.9
2.2
1.6
.1
4.3
2.3
1.7
.3
Transfer payments to persons
Medicare
Supplemental unemployment benefits
Other . .
Grants-in-aid to State and local governments
Medicaid
Other
10
2
1.2
-1.9
27
1.0
2
-46
46
2
5
3
2
6
3
3
3
g
1
Subsidies less current surplus of government enterprises
1.4
1.6
5.6
-1.5
.2
.4
.4
.6
-10.6
-.4
1.3
.7
1.6
.7
.6
.8
.9
.9
1.0
1.0
1.2
1.2
4.0
1.3
2.0
.7
9.0
1.4
2.0
.7
1.3
1.1
.7
.9
.9
9.7
1.5
2.1
.7
1.7
1.1
.8
.9
.9
10.1
1.5
2.1
.7
2.0
1.1
.9
.9
.9
10.8
1.6
2.2
.7
2.2
1.1
1.2
.9
.9
13.2
2.1
2.8
.8
2.6
1.2
1.6
.9
1.2
14.8
2.5
3.4
.8
2.9
1.2
1.9
.9
1.2
16.2
2.9
4.0
.8
3.1
1.2
2.1
.9
1.2
16.6
2.9
4.6
.8
2.6
1.2
2.4
.9
1.2
.4
.4
1.6
1.2
.4
5.0
1.2
2.4
1.3
.1
5.1
1.2
2.4
1.3
.2
5.1
1.2
2.4
1.3
.2
5.2
1.2
2.4
1.3
.3
5.7
1.4
2.5
1.5
.3
5.7
1.4
2.5
1.5
.3
5.7
1.4
2.5
1.5
.3
5.7
1.4
2.5
1.5
.3
3.7
2.1
1.6
3.8
2.2
1.6
4.0
2.2
1.6
.2
4.1
2.3
1.6
.2
4.2
2.3
1.7
.2
4.2
2.3
1.7
.2
4.4
2.3
1.7
.4
4.5
2.3
1.7
.5
.1
.8
.4
.4
I
1.0
-5.1
.6
.3
.3
Net interest paid
Surplus or deficit ( - )
-2.0
0.9
-112
15.2
2.6
3.7
.8
2.8
1.2
2.0
.9
1.2
Purchases of goods and services
National defense
Nondefense
IV
23.6
.4
.9
III
4.7
2.1
9.9
1.5
2.1
.7
1.8
1.1
.9
.9
.9
Contributions for social insurance
State unemployment insurance
Hospital insurance for Federal employees
Supplementary medical insurance.
II
22.4
1.8
1.1
.5
.2
Construction interest and taxes
Investment tax credit
Corporate tax preferences
Other
I
IV
15.7
21.5
4
1.3
.6
1.6
7
7
.9
Other
III
40.9
Deduction for casualty losses
Corporate profits tax accruals
Insurance provisions
II
13.0
11.7
1.6
.7
.1
Ft
I
IV
31.9
-15
f*r\' ]
1984
1983
III
II
.1
.1
46.0
2.2
.6
.3
.3
.1
.1
33.9
3.4
.9
1.0
1.5
-2.6
.6
.3
.3
-2.5
-2.3
1.7
.7
.1
-3.6
1.3
.7
.3
-3.9
.6
.3
.3
-3.4
-3.4
.6
.3
.3
-4.1
.8
.4
.4
-4.7
.8
.4
.4
-5.2
.8
.4
.4
63
.8
.4
.4
3.9
-.8
4.8
1
2.1
-1.7
4.0
2
2
3
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.5
-.3
-.2
-.8
-.4
-.4
-.1
-.3
-.4
-.5
-.6
-.8
-.9
-.9
.1
.1
.1
.1
.1
.1
.1
.1
.1
2.2
20.2
26.2
45.8
43.4
42.8
45.1
47.1
49.0
-3.6
-3.6
-3.9
-3.9
-4.3
-4.3
-4.7
-4.7
-5.5
-5.5
September
the unemployment tax wage base (to
$7,000 from $6,000) and in the basic
Federal tax rate (to 0.8 percent from
0.7 percent) increases contributions
$2.3 billion in 1984. The provision requiring Federal employees to pay the
current 1.3 percent hospital insurance
tax under medicare (on a wage base
of $35,100) will be matched by employing agencies, therefore doubling
the impact on NIPA contributions.
The act also provides for a temporary
suspension of the limitation on
annual increases in supplementary
medical insurance premiums, effective July 1, 1983 and 1984.
Expenditures
Expenditures are increased $0.9 billion in 1982 due to the temporary supplemental unemployment benefits,
but are reduced $2.0 billion in 1983
and $5.1 billion in 1984.
The largest expenditure reduction
is in transfer payments to persons,
due to a number of provisions reducing medicare benefits. The largest of
these is a limit on reimbursements to
hospitals. Other provisions provide for
private-sector utilization review and
eliminate duplicate payments. Grantsin-aid to State and local governments
are also reduced, largely in medicaid.
Medicaid grants are reduced primarily by permitting States to place liens
on the property of permanently institutionalized beneficiaries in order to
recover the cost of medical services,
SURVEY OF CURRENT BUSINESS
23
and by limiting hospital reimbursements. Net interest paid is also reduced through various debt management techniques, including variable
interest rates on savings bonds.
Purchases of goods and services and
also subsidies less the current surplus
of government enterprises are increased as a result of the extension of
medicare hospital coverage to Federal
employees. Under this provision (on
the NIPA basis), the compensation of
Federal employees will increase by
the amount of the employer matching
payments. It is very likely that agencies will have to absorb the matching
payment and that these expenditures
will not increase.
for fiscal years 1983 and 1984 and by
reducing payments up to $1 from the
current price-support level of $13.10
per hundred pounds in fiscal years
1983 and 1984, unless dairymen cut
production sharply. The other farm
program savings ($0.3 billion) require
new payments to farmers for not
growing crops (wheat, feed grain, and
rice). Detail was not available for a
NIPA translation, but these reductions would reduce nondefense purchases and increase subsidies.
The reduction in Federal employee
retirement payments will be achieved
by a number of provisions. (1) Cost-ofliving adjustments (COLA's) are reduced by 50 percent during the next 3
fiscal years for retirees below age 62.
(2) The effective date of the COLA's in
each of the next 3 years is delayed a
month. Intead of paying COLA's on
March 1 annually, they will be paid
in April 1983, May 1984, and June
1985. (3) "Double-dipping" by military
retirees who obtain Federal civilian
jobs is eliminated by reducing the individual's civilian pay by the amount
of the military COLA. (These provisions reduce NIPA transfer payments
to persons.)
The reduction in food stamps will
be achieved through a host of program changes, including a 1-percentage point reduction in COLA's in October 1982-84, and rounding benefits
down to the next lowest dollar. (These
provisions would also reduce NIPA
transfer payments to persons.)
Other Budget Developments
Congress also passed in mid-August
the Omnibus Budget Reconciliation
Act of 1982, providing for an additional $13.3 billion reduction in spending
over the next 3 fiscal years. The
major features of the act are: a $4.5
billion reduction (over the next 3
fiscal years) in farm programs; a $4.1
billion reduction in Federal employee
retirement payments; and a $1.9 billion reduction in food stamps.
The largest farm program reduction
($4.2 billion) is for dairy price supports, or direct purchases of dairy
products by the Commodity Credit
Corporation. The savings will be
achieved by freezing price supports
By DANIEL H. GARNICK and HOWARD L. FRIEDENBERG
Accounting for Regional Differences in Per Capita Personal
Income Growth, 1929-79
FROM 1929 to 1979, when per
capita personal income grew more
than ninefold in each of the eight
BEA regions, regional differences in
per capita income narrowed. Per
capita income increased from 64 to 91
percent of the national average in the
low-income regions (Southeast, Southwest, Plains, and Rocky Mountain),
and declined from 127 to 107 percent
of the national average in the highincome regions (Mideast, Far West,
New England, and Great Lakes).
This article provides measures of
the relative regional contributions of
the per capita income components to
the narrowing of regional differences
in each of six timespans included in
1929-79: 1929-40, 1940-50, 1950-59,
1959-69, 1969-73, and 1973-79.l The
choice of years for the first three timespans is based solely on data availability, and that for the subsequent timespans is based on national business
cycle peaks in order to separate trend
from cyclical changes. Chart 6 shows
that, in each of the six timespans, per
capita income increased as a percent
of the national average in the lowincome regions and declined as a percent of the national average in the
high-income regions. The disparity between the rates of change, however,
varied over time (table 1). Further, it
will be shown that the components of
NOTE.—Robert Bretzfelder and Bruce Levine,
assisted by Ronald Catzva, made substantial
contributions in implementing the methodology
and in preparing and analyzing the tables.
Frank de Leeuw and Ray Grimes contributed
to the development of the methodology and to
the analysis of the findings. Elizabeth Queen,
Kenneth Berkman, and Robert Brown, all
under the direction of Edwin Coleman, and
Kenneth Johnson developed special estimates
and statistical techniques.
1. The measures are based on estimates of State personal income published in the July 1981 SURVEY OF
CURRENT BUSINESS. Use of the revised estimates published in the August 1982 SURVEY, which was precluded because of time constraints, would have little
effect on the findings of this article.
24
per capita income that governed the
rates of change also varied over time.
Per capita personal income may be
separated into three major components, each on a per capita basis: (1)
labor and proprietors' income, (2) personal dividend, interest, and rental
income, and (3) transfer payments.
Each component contributed to the
narrowing of regional differences in
most of the timespans. Labor and proprietors' income per capita is further
subdivided in order to identify and
measure the contributions to the narrowing of other factors, such as the
mix of employment by industry, wage
rates by industry, and employmentpopulation ratios. Some of these subcomponents could not be estimated
for the early timespans because data
prior to 1950, especially for 1929, are
limited. Accordingly, the following
overview discusses the contributions
of the components (and subcomponents) of per capita income for 1940-79
rather than 1929-79.
Overview, 1940-79
From 1940 to 1979, when each
major component contributed to the
narrowing of regional differences in
per capita personal income, the contributing factors, and the shares of
the narrowing that they accounted
for, were: (1) more uniform regional
industrial mixes of employment, accounting for about one-half of the
narrowing; (2) more uniform regional
distributions of personal dividend, interest, and rental income per capita,
for about one-eighth; (3) more uniform
regional distributions of transfer payments per capita, also for about oneeighth; (4) more uniform regional
ratios of employment to working-age
population, for about one-tenth; and
(5) reduced regional differentials in
wage rates (adjusted for regional differences in industrial mix), also for
about one-tenth. Factors 1, 4, and 5,
which are directly related to employment income, together accounted for
about three-quarters of the narrowing. The discussion that follows emphasizes these three factors.
The trend toward more uniform regional industrial mixes of employment
(factor 1) was, in large part, a result
of a reallocation of redundant farm
workers. In 1940, in the low-income
regions, farming, which was a relatively low-paying industry, accounted
for a large share of total employment.
In the early 1940's, large-scale mechanization began to reduce employment
opportunities in farming. During and
after World War II, nonfarm employment opportunities grew rapidly, and
workers shifted from farm to nonfarm
Table 1.—Percent Change in Per Capita Personal Income, Selected Timespans, 1929-79, United
States and BEA Regions
United
States
Percent
change
1929-79
1929-40
1940-50
1950-59
1959-69
1969-73
1973-79
...
1. Southeast, Southwest, Plains, and Rocky Mountain.
2. Mideast, Far West, New England, and Great Lakes.
3. Based on unrounded data.
1125.1
-16.0
150.8
44.4
73.2
34.9
72.4
Low-income
regions '
Percent
change
1637.7
-12.2
199.5
47.6
80.9
42.0
74.2
Difference
from
U.S.
average3
512.6
3.8
48.7
3.2
7.7
7.1
1.8
High-income
regions2
Percent
change
932.4
-17.3
129.8
42.2
69.0
31.5
72.0
Difference
from
U.S.
average3
-192.7
-1.3
21 1
-2.3
-4.1
34
-.4
September
employment.2 The reallocation of
farm workers had the effect of raising
the incomes of persons who remained
in farming, as well as of persons who
shifted to higher paying employment
in other industries.
The trend toward more uniform
ratios of employment to working-age
population (factor 4) also was, in part,
a result of the reallocation of farm
workers. In the 1950's and 1960's, in
the low-income regions, the growth of
nonfarm employment opportunities
was not sufficient to absorb fully the
redundant farm workers and new entrants to the labor force. Work-force
outmigration from the low- to the
high-income regions resulted, and regional ratios of employment to working-age population—which had been
below the average in the low-income
regions and above the average in
the high-income regions—converged
toward the national average. In the
1970's, in contrast, regional ratios of
employment to working-age population diverged from the national average. Nonfarm employment opportunities grew much more rapidly in the
low- than in the high-income regions,
and substantial numbers of workers
migrated to the low-income regions.
Work-force inmigration to the lowincome regions did not fully offset the
rapid growth in nonfarm employment
opportunities, and the ratio of employment to working-age population
rose above the national average for
the first time. Conversely, work-force
outmigration from the high-income
regions did not fully offset the slow
growth or declines in nonfarm employment opportunities, and the ratio
of employment to working-age population fell below the national average.
For 1940-79 as a whole, the reduction of regional wage rate differentials
(factor 5) was small, and so was its
contribution to per capita income convergence.
Neoclassical
economic
theory would have predicted convergence. Inmigration to high-wage regions would put downward pressure
on wage rates; as labor reserves de-
SURVEY OF CURRENT BUSINESS
25
clined in low-wage regions, upward
pressure would be put on wage rates
in order to hold workers.3
The persistence of regional wage
rate differentials can be reconciled
with this theory if it is recognized
that firms choose locations for differ-
ent reasons than workers do. In
choosing between two locations, firms
tend to locate where wage rates and
other costs, relative to selling prices,
are lower. Workers tend to locate
where wage rates, relative to the cost
of living, are higher. Studies have
shown that about two-thirds of the explained variation among regions in
wage rates reflects regional differ-
3. J. R. Hicks, The Theory of Wages, (London: MacMillan, 1932).
CHART 6
Per Capita Personal Income as a Percent of the U.S. Average, Selected
Years, 1929-79, BEA Regions
Percent
130
120-
110 -
- *. — _ _ j.
High-Income Regions
100 - United States -
Low-Income Regions
90
80
70
60
Mideast
130-
Far WestNew England-*""**"
\
\X\
120-
High-Income Regions
Great Lakes-
110-
100 - United States-
90
80
Rocky Mountain.
Plains—
Low-Income Regions
2. In 1940-79, farm employment as a percent of
total employment in the low-income regions declined
more than 25 percentage points. Two-fifths of the decline occurred in 1940-50. In 1940-50, regional differences in per capita personal income narrowed more
than in any other timespan, and the farm-nonfarm
employment shift was a major contributing factor. In
1950-79, regional differences in per capita income continued to narrow, but the farm-nonfarm shift appears
to have accounted for no more than one-fifth of the
narrowing.
70
Southwest
V
60
50
Southeast **
1929
I
1940
1950
U.S. Department of Commerce, Bureau of Economic Analysis
1959
1969
1973
1979
Table 2.—Per Capita Personal Income, by Component, Selected Years, 1929-79, United States and BEA Regions
Percent of U.S. average
Dollars
1929
United States
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend interest and rental income
Transfer payments
Less: personal contributions for social insurance
1940
1950
1959
1969
1973
1979
1929
1940
1950
1959
1969
1973
1979
705
413
5
51
74
151
12
1
0
592
376
5
34
65
93
24
5
0
1,485
962
24
89
165
164
100
19
0
2,145
1,453
60
56
207
263
153
45
-1
3,714
2,528
141
71
261
512
331
129
-1
5,010
3,297
231
153
289
677
565
200
-1
8,637
5,486
528
137
449
1,286
1,111
357
-2
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
451
243
3
78
51
69
9
1
0
396
232
3
51
48
49
16
3
0
1,186
689
16
143
147
114
90
14
3
1,751
1,122
43
89
188
209
133
36
3
3,167
2,078
112
111
241
427
297
109
10
4,498
2,811
194
260
280
605
510
175
12
7,837
4,870
460
197
436
1,158
1,018
323
20
64
59
60
153
69
46
75
100
67
62
60
150
74
53
67
60
80
72
67
161
89
70
90
74
82
77
72
159
91
79
87
80
85
82
79
156
92
83
90
84
90
85
84
170
97
89
90
88
91
89
87
144
97
90
92
90
367
202
2
66
38
53
7
1
0
338
209
3
40
38
39
12
3
0
1,028
621
15
100
121
91
87
13
6
1,597
1,040
38
72
165
173
128
32
13
2,998
2,011
108
76
215
370
293
104
28
4,253
2,758
191
139
258
527
517
171
35
7,348
4,581
434
142
376
996
1,066
302
56
52
49
40
129
51
35
58
100
57
56
60
118
58
42
50
60
69
65
62
123
73
55
87
68
74
72
63
129
80
66
84
71
81
80
77
107
82
72
89
81
85
84
83
91
89
78
92
86
85
84
82
104
84
77
96
85
474
248
3
75
60
80
8
1
0
415
232
4
53
57
57
15
3
0
1,291
768
18
115
178
134
94
15
2
1,874
1,214
51
76
208
247
125
38
9
3,239
2,154
121
71
262
455
289
111
-2
4,441
2,831
201
177
290
636
482
172
_4
8,292
5,249
505
159
520
1,264
936
339
-2
67
60
60
147
81
53
67
100
70
62
80
156
88
61
62
60
87
80
75
129
108
82
94
79
87
84
85
136
100
94
82
84
87
85
86
100
100
89
87
86
89
86
87
116
100
94
85
86
96
96
96
116
116
98
84
95
Plains
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend interest and rental income
Transfer payments
Less: personal contributions for social insurance
Plus' residence adjustment
578
302
3
105
68
88
13
1
0
482
264
3
74
60
61
21
3
0
1,413
752
17
260
172
141
88
15
2
1,951
1,198
46
139
219
252
148
40
10
3,507
2,162
119
238
281
536
315
120
-25
5,167
2,877
201
676
320
786
526
187
34
8,620
5,129
493
417
483
1,498
1,011
352
-59
82
73
60
206
92
58
108
100
81
70
60
218
92
66
88
60
95
78
71
292
104
86
88
79
91
82
77
248
106
96
97
89
94
86
84
335
108
105
95
93
103
87
87
442
111
116
93
94
100
93
93
304
108
116
91
99
Rocky Mountain
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income ....
Personal dividend interest and rental income
Transfer payments
Less' personal contributions for social insurance
Plus: residence adjustment
599
354
5
74
65
91
12
1
0
526
307
5
62
65
63
29
4
0
1,458
827
18
184
185
155
108
18
0
2,021
1,292
43
94
226
253
155
42
-1
3,303
2,137
100
139
272
468
304
119
2
4,743
2,991
182
311
313
633
495
185
2
8,243
5,292
442
186
528
1,229
918
357
5
85
86
100
145
88
60
100
100
89
82
100
182
100
68
121
80
98
86
75
207
112
95
108
95
94
89
72
168
109
96
101
93
89
85
71
196
104
91
92
92
95
91
79
203
108
94
88
92
95
96
84
136
118
96
83
100
High-income regions
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income
Transfer payments
Less: personal contributions for social insurance
Plus: residence adjustment
894
541
6
30
91
213
15
1
0
739
485
7
21
78
126
30
7
0
1,698
1,157
30
51
177
200
108
22
2
2,414
1,676
72
35
220
300
167
51
-4
4,080
2,826
161
44
274
570
355
142
-8
5,367
3,632
257
78
295
727
604
217
-10
9,230
5,934
580
92
458
1,383
1,181
382
-16
127
131
120
59
123
141
125
100
125
129
140
62
120
135
125
140
114
120
125
57
107
122
108
116
113
115
120
62
106
114
109
113
110
112
114
62
105
111
107
110
107
110
111
51
102
107
107
108
107
108
110
67
102
108
106
107
Mideast
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend interest and rental income
Transfer payments
Less: personal contributions for social insurance
Plus: residence adjustment
977
581
7
15
97
263
15
2
0
790
518
8
11
80
150
31
7
0
1,730
1,209
31
23
169
213
115
24
-7
2,461
1,740
75
17
211
317
176
54
-20
4,169
2,921
159
21
271
610
378
146
-45
5,476
3,787
254
28
283
756
651
224
-60
9,145
5,905
559
39
435
1,406
1,283
380
-104
139
141
140
29
131
174
125
200
133
138
160
32
123
161
129
140
116
126
129
26
102
130
115
126
115
120
125
30
102
121
115
120
112
116
113
30
104
119
114
113
109
115
110
18
98
112
115
112
106
108
106
28
97
109
115
106
Far West
Per capita personal income
Wages and salaries
Other labor income
,
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income
Transfer payments
Less: personal contributions for social insurance. . .
Plus: residence adjustment
911
513
7
54
111
212
15
1
0
780
478
8
35
104
124
40
8
0
1,800
1,119
24
78
251
217
136
25
1
2,552
1,708
60
56
274
336
177
58
-2
4,181
2,842
143
57
318
577
398
155
1
5,394
3,554
226
114
345
745
647
237
1
9,678
6,156
549
138
548
1,497
1,209
419
1
129
124
140
106
150
140
125
100
132
127
160
103
160
133
167
160
121
116
100
88
152
132
136
132
119
118
100
100
132
128
116
129
113
112
101
80
122
113
120
120
108
108
98
75
119
110
115
118
112
112
104
101
122
116
109
117
New England
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income
Transfer payments
Less: personal contributions for social insurance
Plus: residence adjustment
867
535
5
15
78
220
14
1
0
746
484
6
9
66
156
30
6
0
1,593
1,083
28
23
150
211
110
20
7
2,346
1,599
67
15
198
304
175
45
33
4,048
2,699
157
17
264
613
363
132
67
5,283
3,452
249
25
291
767
612
192
79
8,978
5,572
558
24
473
1,414
1,175
351
111
123
130
100
29
105
146
117
100
126
129
120
26
102
168
125
120
107
113
117
26
91
129
110
105
109
110
112
27
96
116
114
100
109
107
111
24
101
120
110
102
105
105
108
16
101
113
108
96
104
102
106
18
105
110
106
98
Great Lakes
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income
Transfer payments
Less: personal contributions for social insurance
Plus: residence adjustment
805
507
5
44
81
156
14
1
0
665
451
6
30
69
90
25
5
0
1,645
1,139
32
76
159
173
86
20
1
2,305
1,612
77
47
206
259
148
45
1
3,930
2,752
175
68
253
511
300
134
5
5,258
3,574
283
123
275
673
525
205
10
9,063
5,908
629
132
410
1,268
1,059
366
23
114
123
100
86
109
103
117
100
112
120
120
88
106
97
104
100
111
118
133
85
96
105
86
105
107
111
128
84
100
98
97
100
106
109
124
96
97
100
91
104
105
108
123
80
95
99
93
102
105
108
119
96
91
99
95
103
••••
Low-income regions
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend interest, and rental income
Transfer payments
Less* personal contributions for social insurance
Southeast
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
.
...
Personal dividend interest and rental income
Transfer payments
Less* personal contributions for social insurance
Southwest
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend interest and rental income
Transfer payments
....
Less* personal contributions for social insurance
26
September
ences in the cost of living, and about
one-third reflects regional differences
in work-force characteristics. Because
labor is an imperfectly mobile resource, insofar as migration entails
moving costs, the persistence of wage
rate differentials for homogeneous
labor largely reflects cost-of-living differentials and a premium associated
with moving costs. The two-track view
of location incentives helps explain (1)
why the growth of nonfarm employment opportunities was faster in the
low-income regions, with low wage
rates, than in the high-income regions, with high wage rates, and (2)
why some workers may have migrated from the high-income regions,
where high costs of living more than
offset the beneficial effects of high
wage rates, to the low-income regions,
where low costs of living more than
offset the adverse effects of low wage
rates.
In the 1940-79 timespan, 1973-79
was the only subperiod in which the
reduction of regional wage rate differentials was a major contributor to the
narrowing of regional differences in
per capita personal income. The reduction of the differentials coincided
with regional convergence in relative
costs of living; in particular, housing
costs increased faster in the low- than
in the high-income regions.4
The reduction of regional wage rate
differentials also coincided with net
work-force migration from the highto the low-income regions. Migration
in the reverse direction apparently
was not a necessary condition for the
reduction of the differentials.5 The reductions in both wage rate and costof-living differentials, moreover, were
not inconsistent with net inmigration
to the low-income regions. As firms
responded to the rapid growth of
energy-related activity in the lowincome regions, they increased the
level of capital investment in these
4. Regional wage rate and cost-of-living differentials
are not independent of each other, insofar as wages
may account for a large fraction of the costs of production and distribution. This is particularly true for
housing and services, both of which tend to be consumed in the vicinities of their production.
5. See G. H. Borts, "The Equalization of Returns
and Regional Economic Growth," American Economic
Review, L (June 1960), pp. 319-47. In 1960, Borts found
that from 1919 to 1953, migration flows from low- to
high-wage regions had occurred but, apparently, the
flows had not been large enough to result in substantial interregional wage rate convergence; he concluded
that continued migration in the "right direction" was
a necessary, although not a sufficient, condition for
convergence.
SURVEY OF CURRENT BUSINESS
27
regions and provided more high-wage
jobs, thereby tending to increase relative wage rates and to attract working migrants. The net inmigration of
workers led, in part, to the relative
increase in housing costs. This increase, in turn, may have been a
cause, as well as an effect, of the increase in relative wage rates.
If recent trends in the narrowing of
regional wage rate and cost-of-living
differentials were to continue, neoclassical theory, as elaborated by the
two-track view of location incentives
discussed above, would predict a slowing of differences in employment
growth. For long-run equilibrium
among regions, it is necessary that no
factor of production could be profitably relocated. Regional differentials
have narrowed in variable costs of
production and distribution other
than wage rates. As an example,
owing to Federal deregulation of
transportation, freight rates have
tended to become more uniform
among regions. The narrowing differentials would tend to result in reduced relative marginal efficiencies of
investment in those labor-intensive
industries that accounted for much of
the relative growth in employment in
the low-income regions during the
1940-79 timespan, and the rate of net
work-force inmigration to these regions would be expected to slow. Thus
far in the 1980's, data indicate such a
slow-down.6 Nevertheless, because it
is unlikely that all of the theoretical
conditions required for nonprofitability of factor relocation can be met, it
is not possible to predict the end of interregional migration of labor and industrial relocation of facilities.
The trend toward more regional
uniformity in transfer payments per
capita (factor 3), which consist mainly
of social security benefits, reflects
changes in social security coverage.
As the industrial coverage of the
social security system expanded and
as regional industrial mixes of employment became more uniform, regional differences in social security
benefits received, as well as personal
contributions for social insurance, per
capita narrowed. Migration of retirees
from high- to low-income regions also
contributed to the narrowing.
The trend toward more uniform regional distributions of personal divi-
dend, interest, and rental income per
capita (factor 2) suggests that regional
differences in wealth have narrowed;
this is consistent with the narrowing
of the other components of per capita
personal income noted above.
6. It should be noted, however, that in previous periods of recession, the migration rate also slowed.
Per Capita Income
Components
Estimates
Table 2 shows the components of
per capita personal income for 1929,
1940, 1950, 1959, 1969, 1973, and 1979.
Table 3 shows detailed breakdowns of
the components for 1940-50 and for
the four subsequent timespans. A detailed breakdown for 1929-40 was not
possible due to lack of data. For both
detailed breakdowns shown in table 3,
per capita personal income was
broken into labor and proprietors'
income (wages and salaries, other
labor income, and farm and nonfarm
proprietors' income) per capita and
other income components (personal
dividend, interest, and rental income,
transfer payments, less personal contributions for social insurance, plus
residence adjustment) per capita. In
the breakdown for the four most
recent timespans, labor and proprietors' income per capita was broken
into 10 subcomponents; such a breakdown for 1940-50 was not possible due
to lack of data.
The breakdown into the subcomponents of labor and proprietors'
income per capita permits the measurement of the contributions to the
narrowing of regional per capita
income differences that are due to
factors such as the mix of employment by industry and wage rates by
industry. Subcomponent 1, which is
expressed on a per employee/proprietor basis, is the wage and salary and
farm proprietors' income that would
have originated in a region if all wage
and salary employees in each industry in the region had been paid at the
national average rate in the corresponding industry and if all farm proprietors in the region had been paid
at the national average rate for farm
proprietors. When this subcomponent
is calculated for two or more regions,
the same national distribution of
wages and salaries per employee, by
industry, and of farm proprietors'
income per proprietor is multiplied by
each region's distribution of employment, by industry. Thus, regional dif-
28
SURVEY OF CURRENT BUSINESS
ferences in this subcomponent reflect
regional differences in the distribution (mix) of employment among industries with varying wage rates nationally. The industrial mix of employment includes the number of
farm proprietors; in all regions, this
number is substantially larger than
the number of farm wage and salary
employees.
Subcomponent 2, which also is expressed on a per employee/proprietor
basis, is the ratio of the wage and
salary and farm proprietors' income
originating in a region to hypothetical
wage and salary and farm propri-
Table 3.—Per Capita Personal Income, by Detailed Component and Timespan
1940-50
1950-59, 1959-69, 1969-73, and 1973-79
Per capita personal income
Labor and proprietors' income per capita
a. Hypothetical
labor and proprietors' income per employee l
b. Actual labor and proprietors' income per employee -=hypothetical labor and proprietors' income per employee
c. Total employment -=-working-age population (ages 15-64)
d. Working-age population -=-total population
Other income components per capita 3
e. Personal dividend, interest, and rental income per
capita
f. Transfer payments per capita
g. Less: personal contributions for social insurance per
capita
Per capita personal income
Labor and proprietors' income per capita
Wages and salaries and farm proprietors' income per
capita (=1x2x3x4x5)
1. Hypothetical wages and salaries per 2employee and
farm proprietors' income per proprietor
2. Actual wages and salaries per employee and farm
proprietors' income per proprietor -=- hypothetical
wages and salaries per employee and farm proprietors'
income per proprietor
3. Wage and salary employment and number of farm
proprietors -f- total employment
4. Total employment -=- working-age population
5. Working-age population -=- total population
6. Other labor income per capita
Nonfarm proprietors' income per capita ( = 7x8x9x10)
7. Nonfarm proprietors' income -=- number of nonfarm
proprietors
8. Number of nonfarm proprietors' -=- total employment
9. Total employment -4- working-age population
10. Working-age population 4- total population
Other income components per capita
11. Personal dividend, interest, and rental income per
capita
12. Transfer payments per capita
13. Less: personal contributions for social insurance per
capita
14. Plus: residence adjustment per capita
1. The labor and proprietors' income obtained by (1) multiplying total employment in each industry in a region by labor
and proprietors' income per employee in the corresponding
industry nationally, (2) summing the results across all industries, and (3) dividing by total employment.
2. The wage and salary and farm proprietors' income obtained by (1) multiplying wage and salary employment in each
industry in a region by wages and salaries per employee in the
corresponding industry nationally, (2) multiplying the number
of farm proprietors in the region by farm proprietors' income
per proprietor nationally, (3) summing the results across all
wage and salary industries and the farm proprietors' income
component, and (4) dividing by total employment, excluding
nonfarm proprietors.
3. The residence adjustment was not estimated for 1940-50.
NOTE.—In column 1, labor and proprietors' income per
capita is the product of components a-d, and per capita
personal income is the sum of labor and proprietors' income
per capita and components e-g. In column 2, wages and
salaries and farm proprietors' income per capita is the product
of components 1-5, nonfarm proprietors' income per capita is
the product of components 7-10, and per capita personal
income is the sum of wages and salaries and farm proprietors'
income per capita, other labor income per capita, nonfarm
proprietors' income per capita, and components 11-14.
NOTE ON SOURCES.—The Regional Economic Measurement
Division (REMD) provided estimates from its Regional Economic Information System of: (1) total personal income, by component, and total population for 1940, 1950, 1959, 1969, 1973, and
1979, (2) labor and proprietors' income, by industry, for 1940
and 1950, (3) wages and salaries, by industry, for 1950, 1959,
1969, 1973, and 1979, and (4) wage and salary employment, by
industry, and the number of farm and nonfarm proprietors for
1969, 1973, and 1979. In addition, REMD prepared special
estimates of wage and salary employment, by industry, and
the number of farm and nonfarm proprietors for 1950 and
1959. The Regional Economic Analysis Division prepared estimates based on Census Bureau data of (1) population, by age
group, for 1940, 1950, 1959, 1969, 1973, and 1979, and (2) total
employment, by industry, for 1940 and 1950.
Table 4.—Percent Change in Per Capita Personal Income, by Detailed Component, 1940-50,
United States and BEA Regions
Labor and proprietors' income per capita
Actual
income
per
employee
Per
capita
personal
income
Hypothetical
income
per em-l
ployee
(1)
150.8
(2)
133.6
Low-income regions
Southeast
Southwest
Plains
Rocky Mountain
199.5
204.1
211.1
193.2
177.2
148.7
153.6
145.7
142.2
137.3
8.2
8.2
12.2
8.0
4
High-income regions
Mideast
Far West
New England
Great Lakes
129.8
119.0
130.8
113.5
147.4
124.4
120.9
123.0
123.2
130.4
-3.1
46
0
-6.2
-2.6
United States
1. See table 3, footnote 1.
hypothetical
income
per
employee
(3)
0
Other income components per
capita
Personal
dividend,
interest,
and
rental
income
per
capita
Transfer
payments
per
capita
Personal
contributions
for
social
insurance per
capita
4.6
(6)
76.3
(7)
316.7
(8)
280.0
15.1
11.3
17.0
20.4
25.2
-3.8
-3.1
33
-5.2
-6.3
132.7
133.3
135.1
131.2
146.0
462.5
625.0
526.7
319.0
272.4
366.7
333.3
400.0
400.0
350.0
16.4
15.7
14.0
13.8
19.2
-5.2
-4.5
-7.4
-4.6
53
58.7
42.0
75.0
35.3
92.2
260.0
271.0
240.0
266.7
244.0
214.3
242.9
212.5
233.3
300.0
Total
employment 4workingage
population
(4)
15.8
Working-age
population 4total
population
(5)
September
etors' income (subcomponent 1). When
subcomponent 2 is calculated, the region's industrial mix of employment
is multiplied by (1) the region's industrial distribution of wage and salary
and farm proprietors' income per employee/proprietor (for the numerator)
and (2) the corresponding national industrial distribution (for the denominator). Thus, this subcomponent reflects region/Nation differences in industrial wage rates, apart from those
due to region/Nation differences in
the industrial mix of employment.
Subcomponents 3 and 8 are the percents of total employment accounted
for by wage and salary employees and
farm proprietors and by nonfarm proprietors, respectively. Subcomponent
4, and also subcomponent 9, is the
percent of the working-age population
(ages 15-64) that is employed. Subcomponent 5, and also subcomponent
10, is the percent of the total population that is of working age. Subcomponent 7 is the earnings rate of nonfarm proprietors. For 1940-50, labor
and proprietors' income per capita is
broken into four subcomponents;
these measure the mix of employment
by industry, earnings rates by industry, the percent of the working-age
population that is employed, and the
percent of the total population that is
of working age.
Component contributions
Tables 4 and 5 show for 1940-50
and for the four most recent timespans, respectively, percent changes
in per capita personal income, by
component. For each region in each
timespan, these data provide the basis
for measuring the contribution of the
change in each component of per
capita income to the change relative
to the national average in total per
capita income. For each region in
table 4, the contributions can be
measured as follows: (1) Adjust each
subcomponent of labor and proprietors' income per capita (columns 2-5)
so that, when summed, they equal the
percent change in labor and proprietors' income per capita. This adjustment consists of multiplying a logarithmic factor for the subcomponent
by the percent change in labor and
proprietors' income per capita.7 (2)
7. In general terms, the factor is:
log (1 + rate of change in subcomponent)
log (1 + rate of change in labor and
proprietors' income per capita).
September
Multiply, i.e., weight, each adjusted
percent change from step 1 by the
share of total personal income in 1940
accounted for by labor and proprietors' income, and multiply the percent changes of the other income components per capita (columns 6, 7, and
8) by the shares of total personal
income in 1940 accounted for by personal dividend, interest, and rental
income, by transfer payments, and by
personal contributions for social insurance, respectively (see table 6). (3)
SURVEY OF CURRENT BUSINESS
29
Subtract the corresponding national
percent change, which also has been
adjusted and/or weighted, from each
weighted percent change from step 2.
The contributions, that is, the percentage-point differences, which sum
to the region/Nation difference in the
percent change in total per capita
income, are shown in table 7.
For each region/timespan in table
5, the contributions can be measured
as follows: (1) Adjust each subcomponent of wages and salaries and farm
proprietors' income per capita (columns 2-6) and each subcomponent of
nonfarm proprietors' income per
capita (columns 5, 6, 8, and 9) so that,
when summed, they equal the percent
change in wages and salaries and
farm proprietors' income per capita
and the percent change in nonfarm
proprietors' income per capita, respectively. These adjustments consist of
multiplying logarithmic factors for
the subcomponents by the percent
change in wages and salaries and
Table 5.—Percent Change in Per Capita Personal Income, by Detailed Component, Selected Timespans, 1950-79, United States and BEA Regions
Other income components per capita
Labor and proprietors' income per capita
Per
capita
personal
income
Hypothetical
income
per
employee *
Actual
income
per
employee -r
hypothetical
income
per
employee 2
Wage
and
salary
employment 3stotal
employment
Total
employment -+•
workingage
population
Working-age
populationstotal
population
(1)
(2)
(3)
(4)
(5)
(6)
Other
labor
income
per
capita
Nonfarm
proprietors'
incomesnumber
of
nonfarm
proprietors
Number
of
nonfarm
proprietors -ftotal
employment
Personal
dividend,
interest,
and
rental
income
per
capita
Transfer
payments
per
capita
Personal
contributions
for
social
insurance per
capita
Residence
adjustment per
capita
(7)
(8)
(9)
(10)
(11)
(12)
(13)
1950-59
44.4
49.1
0
1.2
3.7
-8.2
150.0
50.4
-11.9
60.4
53.0
136.8
0
Low-income regions
Southeast
Southwest
Plains
Rocky Mountain
47.6
55.4
45.2
38.1
38.6
47.8
47.8
49.3
46.5
47.8
-1.4
4.2
26
-9.4
58
.8
.1
1.4
1.7
1.7
6.2
5.5
6.9
7.9
5.6
-6.7
-5.2
-7.3
-9.3
82
168.8
153.3
183.3
170.6
138.9
41.0
37.8
33.9
51.7
46.5
-7.8
-1.0
-12.2
14 3
-13.6
83.3
90.1
84.3
78.7
63.2
47.8
47.1
33.0
68.2
43.5
157.1
146.2
153.3
166.7
133.3
0
116.7
350.0
400.0
0
High-income regions
Mideast
Far West ...
New England
Great Lakes .
42.2
42.3
41.8
47.3
40.1
50.1
49.8
51.7
50.8
49.9
.7
1.2
-.2
.9
-.5
1.4
1.3
2.3
1.1
1.4
1.9
2.1
4.4
4.1
-.1
-9.3
-9.2
-8.9
-8.9
-9.7
140.0
141.9
150.0
139.3
140.6
57.3
56.0
44.5
57.1
66.6
-14.6
-13.6
-20.5
-11.3
-14.1
50.0
48.8
54.8
44.1
49.7
54.6
53.0
30.2
59.1
72.1
131.8
125.0
132.0
125.0
125.0
100.0
185.7
-300.0
371.4
-200.0
United States
1959-69
73.2
56.4
0
1.9
4.6
3.3
135.0
49.4
-22.1
94.7
116.3
186.7
Low-income regions
Southeast
Southwest
Plains
Rocky Mountain
80.9
87.7
72.8
79.8
63.4
61.8
63.1
59.7
60.9
59.1
2
1.6
42
1.0
-2.7
1.9
1.8
2.0
1.9
2.0
5.4
6.5
6.3
4.8
22
4.4
4.6
3.9
3.5
6.4
160.5
184.2
137.3
158.7
132.6
45.4
46.8
43.5
45.6
41.9
-20.1
-20.5
-20.3
-18.9
18 6
104.3
113.9
84.2
112.7
85.0
123.3
128.9
131.2
112.8
96.1
202.8
225.0
192.1
200.0
183.3
233.3
115.4
778
150.0
-300.0
High-income regions
Mideast
Far West
New England
Great Lakes
69.0
69.4
63.8
72.6
70.5
53.3
52.3
55.5
52.5
53.8
.6
2.1
-1.4
3.4
-1.1
1.9
2.1
1.6
1.9
2.1
4.0
4.4
1.2
2.4
6.1
2.6
1.2
4.3
2.3
3.3
123.6
112.0
138.3
134.3
127.3
52.4
62.5
35.2
64.1
50.5
234
-25.3
186
-22.5
25 4
90.0
92.4
71.7
101.6
97.3
112.6
114.8
124.9
107.4
102.7
178.4
170.4
167.2
193.3
197.8
100.0
125.0
-50.0
103.0
400.0
United States
0
1969-73
United States
34.9
30.7
0
.2
-.8
2.2
63.8
12.1
-2.7
32.2
70.7
55.0
0
42.0
41.9
37.1
47.3
43.6
34.1
33.6
33.2
36.3
34.6
1.5
.6
2
5.0
2.0
.2
.2
.3
.5
1.0
1.7
-.4
.3
2.0
1.9
1.5
1.9
2.8
3.1
73.2
76.9
66.1
68.9
82.0
15.3
16.7
12.4
15.2
16.7
21
-.2
-3.1
-3.8
-6.0
41.7
42.4
39.8
46.6
35.3
71.7
76.5
66.8
67.0
62.8
60.6
64.4
55.0
55.8
55.5
20.0
25.0
100.0
36.0
0
31.5
31.4
29.0
30.5
33.8
28.6
28.0
28.8
27.3
29.5
-.1
.9
26
.7
.3
.2
.5
.1
-.2
.2
-2.0
23
14
-2.7
-1.9
2.4
2.2
2.2
2.8
2.7
59.6
59.8
58.0
58.6
61.7
11.0
13.8
8.3
6.5
12.1
-3.6
-8.0
g
3.4
-3.9
27.5
23.9
29.1
25.1
31.7
70.1
72.2
62.6
68.6
75.0
52.8
53.4
52.9
45.5
53.0
25.0
33.3
0
17.9
100.0
72.4
51.2
0
4
4.0
3.6
128.6
35.8
6.3
90.0
96.6
78.5
100.0
Low-income regions
Southeast
Southwest
Plains . ...
Rocky Mountain
74.2
72.8
86.7
66.9
73.8
51.7
51.3
53.2
48.2
52.4
2.3
3.8
6.9
-5.7
.4
2
-.2
0
-.2
-.8
3.5
.9
6.4
7.0
6.0
3.4
3.1
3.2
4.4
3.2
137.1
127.2
151.2
145.3
142.9
42.0
36.5
64.0
32.2
39.5
2.6
2.7
4
2.0
10.4
91.4
89.0
98.7
90.6
94.2
99.6
106.2
94.2
92.2
85.5
84.6
76.6
97.1
88.2
93.0
66.7
60.0
-50.0
73.5
150.0
High-income regions
Mideast
Far West
New England
Great Lakes ...
72.0
67.0
79.4
69.9
72.4
52.5
52.7
53.2
53.9
51.7
-1.1
-2.6
-.3
-4.3
.7
-.5
5
-.8
2
-.4
4.3
1.8
9.2
4.9
3.0
3.9
3.4
3.6
4.5
4.2
125.7
120.1
142.9
124.1
122.3
31.6
34.2
26.7
42.7
30.1
9.0
8.9
10.7
3.8
7.1
90.2
86.0
100.9
84.4
88.4
95.5
97.1
86.9
92.0
101.7
76.0
69.6
76.8
82.8
78.5
60.0
73.3
2000
40.5
130.0
Low-income regions
Southeast
Southwest
Plains
Rocky Mountain
High-income regions
Mideast ...
Far West
New England
Great Lakes
...
..
. .
0
1973-79
United States
1. Hypothetical wages and salaries and farm proprietors' income -+ wage and salary employment and number of farm proprietors (see table 3, footnote 2).
2. Actual wages and salaries per employee and farm proprietors' income per proprietor -± hypothetical wages and salaries per employee and farm proprietors' income per proprietor.
3. Plus number of farm proprietors.
30
SURVEY OF CURRENT BUSINESS
Table 6.—Percent Distribution of Per Capita Personal Income, by Component, Selected Years,
1929-79, United States and BEA Regions
1929
United States
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income...
Transfer payments
.
....
....
Less: personal contrib. for social insurance
Plus' residence adjustment
1940
1950
1959
1969
1979
1973
1000
58.7
.6
72
10.5
21.5
17
.2
1000
63.6
.9
57
11.0
15.7
4.0
.8
1000
648
1.6
60
11.1
11.0
68
1.3
1000
67.7
2.8
26
9.7
12.2
71
2.1
1000
68.1
3.8
19
7.1
13.8
8.9
3.5
1000
65.8
4.6
31
5.8
13.5
113
4.0
1000
63.5
6.1
1.6
5.2
14.9
12.9
4.1
Low-income regions
Per capita personal income
Wages and salaries
,
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income ....
Transfer payments
Less' personal contrib for social insurance
Plus: residence adjustment
1000
53.8
6
17.3
113
15.2
20
2
0
100.0
58.5
8
12.9
121
12.4
39
7
0
100.0
58.1
100.0
64.1
24
5.1
107
11.9
76
20
.2
100.0
65.6
36
3.5
76
13.5
94
34
.3
1000
62.5
43
5.8
62
13.5
113
39
.3
100.0
62.1
59
2.5
55
14.8
130
41
.3
Southeast
Per capita personal income
Wages and salaries ....
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income....
Transfer payments
Less: personal contrib for social insurance
Plus: residence adjustment
1000
549
.6
180
10.4
14.5
19
2
0
1000
61.8
.8
118
11.2
11.7
35
.8
0
1000
1000
65.1
2.4
45
10.3
10.8
80
2.0
.8
1000
67.1
3.6
25
7.2
12.4
98
3.5
.9
1000
649
4.5
33
61
12.4
122
40
.8
1000
623
5.9
19
5.1
13.6
145
41
.8
Southwest
Per capita personal income
Wages and salaries
..
...
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income....
Transfer payments
Less: personal contrib. for social insurance
Plus* residence adjustment
1000
523
.7
158
127
16.9
17
2
1000
559
.9
128
137
13.8
36
7
1000
1000
648
2.7
41
11 1
13.2
67
20
5
1000
66.5
3.7
22
81
14.1
89
34
1
1000
638
4.5
40
65
14.3
109
39
1000
633
6.1
19
63
15.3
113
41
Plains
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income ....
Transfer payments . ..
Less: personal contrib. for social insurance
Plus: residence adjustment
1000
522
6
182
118
15.3
22
1
1000
549
7
154
124
12.8
44
7
1000
1000
614
24
71
112
12.9
76
20
5
1000
617
34
68
80
15.3
90
34
7
1000
557
39
131
62
15.2
102
36
7
1000
595
57
48
56
17.4
117
41
7
Rocky Mountain
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income.
Nonfarm proprietors' income
Personal dividend, interest, and rental income....
Transfer payments
Less: personal contrib. for social insurance
Plus: residence adjustment
100.0
59 1
8
124
109
15.2
20
2
1000
583
10
118
124
12.0
55
7
1000
o
o
1000
639
21
47
11 2
12.5
77
21
o
1000
647
30
42
82
14.2
92
36
1
1000
63 1
39
66
66
13.3
10 4
39
1000
64 2
54
23
64
14.9
11 1
43
1000
605
7
34
102
23.9
16
2
1000
656
9
28
106
17.1
4o
9
1000
100 0
694
30
14
91
12.4
69
21
2
1000
693
39
1i
67
14.0
87
35
2
1000
677
48
15
55
13.6
11 3
41
2
100 0
643
63
10
50
15.0
12 8
41
2
1000
595
7
15
99
26.9
16
.2
1000
655
10
14
101
19.0
39
.9
1000
1000
707
30
7
86
12.9
71
2.2
g
1000
70 1
38
5
65
14.6
91
3.5
11
1000
69 2
46
5
52
13.8
11 9
4.1
11
100 0
64 6
61
4
48
15.4
14 0
4.2
11
1000
563
8
59
122
23.2
17
2
0
1000
612
10
45
133
15.9
51
10
1000
1000
66 9
24
22
107
13.2
70
22
1
1000
680
34
14
76
13.8
95
37
1000
65 9
42
21
64
13.8
120
44
1000
63 6
57
14
57
15.5
12 5
43
1000
617
6
17
90
25.4
16
.2
1000
649
g
12
88
21.0
40
.8
1000
1000
682
28
6
84
13.0
74
1.9
14
1000
667
39
4
65
15.2
90
3.3
17
100 0
65 3
47
5
55
14.5
11 6
3.6
15
100 0
62 1
62
3
53
15.8
13 1
3.9
12
High-income regions
Per capita personal income.
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income....
Transfer payments
Less: personal contrib. for social insurance
Plus: residence adjustment
Mideast
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income ....
Transfer payments
Less: personal contrib. for social insurance
Plus: residence adjustment
Far West
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income ....
Transfer payments
Less: personal contrib. for social insurance
Plus: residence adjustment
New England
Per capita personal income.
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income
Personal dividend, interest, and rental income....
Transfer payments
Less: personal contrib. for social insurance
Plus: residence adjustment
o
o
o
o
o
o
o
o
o
o
o
o
o
o
o
14
12.1
124
9.6
76
12
.2
604
1.4
97
11.8
8.9
84
1.3
.6
595
1.4
89
138
10.4
73
12
2
532
12
184
122
10.0
62
11
1
567
12
126
127
10.6
74
13
681
18
30
104
11.8
64
13
1
699
18
13
98
12.3
66
1.4
4
621
13
43
139
12.0
76
14
1
680
18
14
94
13.2
69
1.3
4
o
o
o
o
I
o
o
o
o
I
o
September
farm proprietors' income per capita
and by the percent change in nonfarm proprietors' income per capita.8
(2) Multiply, i.e., weight, the adjusted
percent changes from step 1 by the
shares of total personal income in the
base year accounted for by wages and
salaries and farm proprietors' income
and by nonfarm proprietors' income,
respectively, and multiply the percent
changes of other labor income per
capita (column 7) and of the other
income components per capita (columns 10, 11, 12, and 13) by the shares
of total personal income in the base
year accounted for by other labor
income, by personal dividend, interest, and rental income, by transfer
payments, by personal contributions
for social insurance, and by the residence adjustment, respectively (see
table 6). (3) Subtract the corresponding national percent change, which
also has been adjusted and/or weighted, from each weighted percent
change from step 2. The contributions
are shown in table 8.
In the discussions of per capita
income growth patterns based on
these measures that follow, hypothetical wages and salaries per employee,
including farm proprietors (for the
four most recent timespans) and hypothetical labor and proprietors' income
per employee (for 1940-50) are referred to as the ' 'industrial mix component." The ratio of actual to hypothetical wages and salaries per employee, including farm proprietors (for
the four most recent timespans) and
the ratio of actual to hypothetical
labor and proprietors' income per employee (for 1940-50) are referred to as
the "adjusted (for region/Nation differences in industrial mix) wage rate
differential component." A brief discussion of the 1929-40 timespan, for
which lack of data precludes a detailed breakdown of the per capita
income components, also is included.
8. In general terms, the factors are:
log (1 + rate of change
in subcomponent)
log (1 + rate of change
in wages and salaries
and farm proprietors')
income per capita)
and
log (1 + rate of change
in subcomponent)
log (1 + rate of change
in nonfarm proprietors'
income per capita).
SURVEY OF CURRENT BUSINESS
September
Table 6.—Percent Distribution of Per Capita Personal Income, by Component, Selected Years,
1929-79, United States and BEA Regions—Continued
1929
Great Lakes
Per capita personal income
Wages and salaries
Other labor income
Farm proprietors' income
Nonfarm proprietors' income..
Personal dividend, interest, and rental income ....
Transfer payments
Less: personal contrib. for social insurance. ..
Plus: residence adjustment
1940
100.0
62.9
.7
55
10 1
19.4
1.7
1
0
1950
100.0
67.8
.9
45
104
13.5
3.7
8
1000
692
19
46
97
10.5
5.2
12
1
o
1969
1959
1973
100.0
70.0
45
17
64
13.0
76
34
1
1000
69.9
33
20
89
11.2
6.4
20
1
1979
1000
68.0
54
23
52
12.8
100
39
2
100.0
65.2
6.9
15
45
14.0
11.7
40
3
Table 7.—Percentage-Point Difference From National Average in Adjusted and Weighted Percent
Change in Per Capita Personal Income, by Detailed Component, 1940-50, BEA Regions
Labor and proprietors' income per capita
Low-income regions
.
Southeast
Southwest
Plains
Rocky Mountain
....
Per
capita
personal
income
Hypothetical
income
per
employee 1
Actual
income
per
employee -4hypothetical
income
per
employee
(1)
48.7
(2)
24.6
(3)
12.0
53.3
60.2
42.3
26.4
29.6
25.0
19.3
10.3
12.1
17.8
11.6
-.7
-21.1
Mideast
Far West
New England
Great Lakes
-31.9
-20.1
373
-3.5
Other income components per
capita
Total
employment 4workingage
population
Working-age
population -ftotal
population
Personal
dividend,
interest,
and
rental
income
per
capita
Transfer
payments
per
capita
Less:
personal
contributions
for
social
insurance per
capita
(4)
(5)
(6)
(7)
(8)
1.6
.3
4.4
5.9
.4
-3.3
4.5
8.2
12.6
1.4
1.2
-1.8
-3.1
3.4
6.6
4.6
5.5
9.4
6.2
1.1
2.2
.6
.5
.1
.3
11 5
40
6
5
-17.6
-13.1
203
.4
-5.8
.1
75
-3.7
-2.1
33
-4.7
4.3
.7
33
.8
-1.2
-2.0
-2.3
-4.0
-.1
46
.5
-2.2
-.5
-2.1
37
3
-.2
.2
5
-.1
1. See table 3, footnote 1.
NOTE.—Column 1 is the sum of columns 2-8, except for differences due to rounding.
Per Capita Income Growth
Patterns
1929-40
Per capita personal income declined
in every region. It declined 3.8 percentage points less than nationally in
the low-income regions and 1.3 percentage points more than nationally
in the high-income regions. In the
low-income regions, below-average declines in the Southeast, Southwest,
and Rocky Mountain regions more
than offset an above-average decline
in the Plains. In the Southeast,
Southwest, and Rocky Mountain regions, below-average declines or little
change occurred in personal dividend,
interest, and rental income per
capita, in nonfarm proprietors'
income per capita, and, except in the
Rocky Mountain region, in wages and
salaries per capita. In the Plains,
wages and salaries per capita declined
at an above-average rate.
In the high-income regions, aboveaverage declines in per capita personal income in the Mideast and Great
Lakes regions more than offset belowaverage declines in the Far West and
New England. In the Mideast and
Great Lakes regions, above-average
declines occurred in wages and salaries per capita, in nonfarm proprietors' income per capita, and in personal dividend, interest, and rental
income per capita. In the Far West,
below-average declines occurred in
wages and salaries per capita and
nonfarm proprietors' income per
capita; and in New England, a belowaverage decline occurred in personal
dividend, interest, and rental income
per capita.
1940-50
Regional differences in per capita
personal income narrowed substantially more than in any other timespan. Per capita income increased
48.7 percentage points more than nationally in the low-income regions and
21.1 percentage points less than nationally in the high-income regions.
Each low-income region had an aboveaverage increase. Major contributing
factors were above-average increases
in the industrial mix component and
increases, except in the Rocky Mountain region, in the adjusted wage rate
differential component. The increase
in the industrial mix component reflected large shifts in employment
from farming, which was a relatively
31
low-paying industry nationally, to
manufacturing, trade, and the transportation group, which were relatively high-paying industries nationally.
Increases in the adjusted wage rate
differential reflected above-average
increases in wage rates in nearly
every industry. In the Rocky Mountain region, another major factor was
an increase that was larger than in
any other region in the percent of the
working-age population that was employed.
Each high-income region had a
below-average increase in per capita
personal income. Major contributing
factors were well-below average increases in the industrial mix component, except in the Great Lakes
region, and declines in the adjusted
wage rate differential component,
except in the Far West. In the Mideast and New England, the small increases in the industrial mix component reflected employment increases
that were smaller than in any other
region in the high-paying manufacturing, trade, and transportation-group
industries. In the Far West, the small
increase reflected an employment increase that was larger than in any
other region in services and government, which was a relatively lowpaying industry nationally. In the
Great Lakes region, the industrial
mix benefited during World War II
from the conversion of the motor vehicle industry to the production of
military durable goods and, after the
war, from strong catch-up demand for
consumers' durables. In the Mideast,
New England, and Great Lakes regions, declines in the adjusted wage
rate differential reflected below-average increases in wage rates in nearly
every industry.
1950-59
Per capita income increased 3.2 percentage points more than nationally
in the low-income regions and 2.3 percentage points less than nationally in
the high-income regions. In the lowincome regions, above-average increases in the Southeast and Southwest more than offset below-average
increases in the Plains and Rocky
Mountain regions. In the Southeast
and Southwest, a major factor contributing to the strength in per capita
income was an above-average increase
in the percent of the working-age population that was employed; employment increases were above average in
most nonfarm industries. Another
32
SURVEY OF CURRENT BUSINESS
September
the industrial mix component. Declines in the adjusted wage rate differential component mainly reflected
large declines in the earnings rate of
farm proprietors; in contrast, this
income source increased or changed
little in all other regions. In the
Rocky Mountain region, the small increase in the industrial mix component reflected above-average increases
in employment in trade, services, and
government, which were relatively
low-paying industries nationally.
differential component mainly reflected a large increase in the earnings
rate of farm proprietors. In the Southwest, an above-average increase in
personal dividend, interest, and rental
income per capita reflected large increases in each of these three income
components. In the Plains and Rocky
Mountain regions, major factors in
the below-average increases in per
capita income were declines in the adjusted wage rate differential component and below-average increases in
major factor was a below-average decline in the percent of the total population that was of working age. The
postwar baby boom, which, in every
region, led to increases in the ratio of
pre-working-age to total population
and, conversely, to declines in the
ratio of working-age to total population, lowered the average age of the
population less in the Southeast than
in other regions. In the Southeast, an
increase that was larger than in any
other region in the adjusted wage rate
Table 8.—Percentage-Point Difference From National Average in Adjusted and Weighted Percent Change in Per Capita Personal Income, by
Detailed Component, Selected Timespans, 1950-79, BEA Regions
l
Labor and proprietors' income per capita
Per
capita
personal
income
Hypothetical
income
per
employee
(1)
(2)
Actual
income
per
employhypothetical
income
per
employee
(3)
Wage
and
salary
employment -=total
employment
Total
employment -fworkingage
population 2
Working-age
population -^total
population 3
(4)
(5)
(6)
Other income components per capita
Nonfarm
proprietors'
income
Other
labor
income
per
capita
number
of
nonfarm
proprietors
(7)
(8)
Number
of
nonfarm
proprietors 4total
employment
Personal
dividend,
interest,
and
rental
income
per
capita
Transfer
payments
per
capita
Personal,
contributions
for
social
insurance per
capita
Residence
adjustment
per
capita
(9)
(10)
(11)
(12)
(13)
1950-59
3.2
Low-income regions
Southeast
Southwest
Plains . .
..
Rocky Mountain
10.9
.7
-6.4
-5.8
High-income regions
-2.3
-2.2
27
2.8
-4.3
Mideast
Far West
New England
Great Lakes
1.2
0.3
2.5
1.5
.3
-.7
-2.5
-2.2
3.6
2.2
-8.2
4.9
-.9
.1
.4
.4
1.9
3.1
3.8
1.7
2.9
.9
-1.0
.2
.4
.6
.2
1.4
-1.1
.5
-.2
.6
1.0
1.1
-.2
.8
-.4
.1
.9
-.1
.2
-1.5
.6
.3
3.2
-0.8
-.9
.5
-.5
1.6
-0.2
-0.3
0.4
1.4
0.1
0.1
0
-.2
.1
-.4
-.7
-.7
-.8
.6
.3
1.4
.4
-.5
.5
1.3
2.1
1.2
.1
.4
-1.2
.7
-.4
.1
0
0
-.1
.7
.5
-.6
0
.1
.2
.2
-.8
_ i
0
.1
.1
.4
0
.3
-.2
.3
-.2
.5
0
-1.8
.3
_ ^
.7
-.1
-.8
-1.4
0
-1.3
.5
.2
0
2
-.2
.7
-.2
1.6
.1
.1
1959-69
Low-income regions
Southeast
Southwest
Plains
....
Rocky Mountain
High-income regions
.
.
... .
..
.
Mideast
..
Far West
New England
Great Lakes
..
7.7
3.6
-.2
14.6
-.3
6.6
97
5.6
1.1
2.5
-.6
1.5
-3.9
1.0
-2.5
4.1
-2.2
.5
-3.8
-9.3
-.6
-2.7
-2.5
-2.3
-3.7
-1.0
1.9
-1.2
-3.0
-1.1
0
.1
0
0
0
1.0
1.1
.2
.2
0
.8
1.1
.3
.4
2.2
1.7
.3
-6.9
1.5
.6
.3
2.8
.6
-.1
0
-1.0
.2
.2
.4
-.1
0
.7
5
3.0
10
2.0
.5
.3
10
.6
0
.2
1
.9
.4
-.8
.2
1
.1
.2
0
-.6
-.7
-.1
-.1
0
-.4
5
2
2
.1
-.3
'.2^
-.2
-3.5
-2.3
1.6
-2.2
.8
-1.2
0
-.4
-.5
.1
.5
.4
9
.5
-.3
-.1
.3
.2
-.2
.3
-2.2
1.6
-.7
1
.4
-.3
-1.7
2
-.1
-.2
-.1
-1.0
0
1.5
.2
1969-73
Low-income regions
7.1
2.5
1.2
0
1.6
-.2
.2
.3
0
1.2
.4
.2
.1
Southeast
Southwest
Plains
Rocky Mountain
7.0
2.2
12.4
8.7
2.2
1.3
4.3
3.1
.5
-.2
4.1
1.7
-.1
.1
.1
.3
2.2
.4
1.0
2.6
-.6
-.3
.6
.8
.3
0
1
.1
.4
.2
.4
.5
.2
1
-.1
-.4
.8
1.2
2.7
.6
1.2
3
-.3
-.5
.3
0
0
.1
.2
-.1
-.3
0
-.6
-.2
-.1
-.1
-.9
-.4
-.6
3
.3
3
-.2
6
0
.1
-.4
1
-.4
0
.3
.1
High-income regions
34
-1.5
0
0
-3.5
59
-4.4
-1.1
-1.8
19
-3.3
-.4
.7
-2.0
.5
.3
.2
-.1
3
.1
Low-income regions
1.8
5
2.0
Southeast
Southwest.
Plains
Rocky Mountain
.4
14.3
56
1.4
8
2.2
30
1.1
Mideast
Far West
New England
Great Lakes ...
-1.1
12
-.5
15
-1.0
.2
1
1
0
-.1
.4
.4
— 2
-.5
2
.3
0
-.2
4
-.1
^
4
.1
.4
1
.5
1973-79
High-income regions
Mideast
Far West
New England
Great Lakes
-.4
.4
-5.4
7.0
-2.5
0
0
1.3
-.8
.7
.2
3.3
6.1
50
.3
.2
.4
.2
4
-.2
-2.8
2.5
2.7
2.0
-.5
2
.7
3
-.2
.1
.4
.2
.2
-.2
.9
-.3
4
.1
2.2
-.1
.7
-.3
-.5
-.3
.4
11
2.0
1.6
.4
2.0
-.7
15
-2.0
1
.6
.1
.5
.5
.1
5
.1
0
-1.0
1
.3
.2
.1
-.3
.2
.1
2
1
1
23
-.3
-3.7
.6
1
20
5.0
.7
-.9
3
.1
.6
.6
_ 4
1
-.1
:7
-.3
-.3
.3
-.5
.1
.4
-.2
0
-.3
1.8
.1
g
.6
-.5
3
-.8
-.3
.2
I
-.1
g
.1
.6
.3
-.3
.2
0
1. See table 5, footnotes 1-3.
2. Sum of the percentage-point differences from the national average of the adjusted and
weighted percent changes in the total employment 4- working-age population components of
wages and salaries and farm proprietors' income per capita and of nonfarm proprietors' income
per capita.
— 4
3. Sum of the percentage-point differences from the national average of the adjusted and
weighted percent changes in the working-age population ^- total population components of wages
and salaries and farm proprietors' income per capita and of nonfarm proprietors' income per
capita.
NOTE.—Column 1 is the sum of columns 2-13 except for differences due to rounding.
September
Each high-income region except
New England had a below-average increase in per capita personal income.
In the Mideast and Great Lakes regions, a major contributing factor was
a below-average change in the percent
of the working-age population that
was employed; employment declined
or increased at below-average rates in
nearly all industries. Another major
factor was an above-average decline
in the percent of the total population
that was of working age. In the Far
West, major factors were a decline
that was larger than in any other
region in the percent of total employment accounted for by nonfarm proprietors and an increase that was
smaller than in any other region in
transfer payments per capita. Weakness in transfer payments per capita
reflected a below-average increase in
the percent of the total population
aged 65 and over; this age group receives the bulk of social security and
other retirement payments, which account for the largest share of total
transfer payments. In New England,
major factors contributing to strength
in per capita income were an increase
in the adjusted wage rate differential
component and an above-average increase in the industrial mix component. The industrial mix benefited
from a large shift in employment
from nondurables (in particular, textiles) to durables manufacturing; the
shift was to the highest paying industry nationally.
1959-69
Regional differences in per capita
personal income narrowed more than
in any other timespan except 1940-50.
Per capita income increased 7.7 percentage points more than nationally
in the low-income regions and 4.1 percentage points less than nationally in
the high-income regions. In the lowincome regions, above-average increases in the Southeast and Plains
more than offset below-average increases in the Southwest and Rocky
Mountain regions. In the Southeast,
major factors contributing to the
strength in per capita income were
above-average increases in the percent of the working-age population
that was employed, the industrial mix
component, and transfer payments
per capita. The employment/workingage population ratio benefited from
above-average increases in employment in most industries; the industrial mix benefited from especially large
SURVEY OF CURRENT BUSINESS
relative increases in employment in
manufacturing, construction, and the
transportation group, which were relatively high-paying industries nationally. Transfer payments per capita,
consisting mainly of retirement payments, benefited from an increase
that was larger than in any other
region in the percent of the total population aged 65 and over. In the
Plains, major factors were large increases in the industrial mix component, in the adjusted wage rate differential component, and in personal
dividend, interest, and rental income
per capita. The increase in the industrial mix component reflected a large
decline in employment in farming,
which was a relatively low-paying industry nationally, and below-average
increases in employment in the lowpaying trade, services, and government industries. The increases in the
other two components reflected aboveaverage increases in the earnings rate
of farm proprietors who remained in
the region and in farm-related rental
income per capita, respectively. In the
Southwest and Rocky Mountain regions, a major factor in the weakness
in per capita income was a decline in
the adjusted wage rate differential,
which reflected below-average increases in wage rates in most industries. In the Rocky Mountain region,
another major factor was a change
that was smaller than in any other
region in the employment/workingage population ratio, reflecting belowaverage increases in employment in
construction and private service-type
industries.
Each high-income region had a
below-average increase in per capita
personal income. In the Mideast and
New England, major contributing factors were below-average increases in
the industrial mix component and the
percent of the total population that
was of working age. The industrial
mix was adversely affected by especially small relative increases in employment in the high-paying manufacturing industry. The increases in the
ratio of working-age to total population were smaller than in any other
region. In New England and the Far
West, a major factor was a belowaverage increase in the percent of the
working-age population that was employed. In the Far West, other major
factors were a below-average increase
in the industrial mix component,
which reflected slumps in the highpaying aircraft and construction in-
33
dustries, and weakness in personal
dividend, interest, and rental income
per capita, which reflected increases
that were smaller than in any other
region in both interest income and
rental income per capita. In the Great
Lakes region, a major factor was a
below-average increase in transfer
payments per capita, which reflected
an especially small increase in the
percent of the total population aged
65 and over.
1969-73
Per capita personal income increased 7.1 percentage points more
than nationally in the low-income regions and 3.4 percentage points less
than nationally in the high-income regions. Each low-income region had an
above-average increase in per capita
income. A major contributing factor
was an above-average increase in the
industrial mix component. The industrial mix benefited from large increases in employment in manufacturing and, except in the Plains, in
construction and the transportation
group; each was a relatively highpaying industry nationally. In the
Southeast and Rocky Mountain regions, another major factor was an increase, compared with a decline nationally, in the percent of the working-age population that was employed. In the Plains, other major factors were increases that were larger
than in any other region in the adjusted wage rate differential component and in personal dividend, interest, and rental income per capita; the
increases mainly reflected an increase
in the earnings rate of farm proprietors to an unusually high level in
1973 and a large increase in farm-related rental income per capita. In the
Southwest, strength in personal dividend, interest, and rental income per
capita reflected above-average increases in each of these three income
components.
Each high-income region had a
below-average increase in per capita
personal income. Major contributing
factors were above-average declines in
the percent of the working-age population that was employed and belowaverage increases in the industrial
mix component. The employment/
working-age population ratio was adversely affected by declines or belowaverage increases in employment in
most industries; the industrial mix
34
was adversely affected by large declines or especially small relative increases in employment in the highpaying manufacturing, construction,
and transportation-group industries.
In the Far West, another major factor
was a decline that was larger than in
any other region in the adjusted wage
rate differential component; increases
in wage rates in nearly every industry were below average.
1973-79
In 1973-79, regional differences in
per capita personal income narrowed
less than in any other timespan,
mainly reflecting divergences from
the national average in the Plains
and Far West regions. In 1969-79, in
contrast, per capita income converged
toward the national average in the
Plains and Far West regions. In the
low-income Plains, strength in farming in the early 1970's more than
offset weakness in the late 1970's. In
the high-income Far West, weakness
in the aircraft industry in the early
1970's more than offset strength in
the late 1970's.
In 1973-79, per capita income increased 1.8 percentage points more
than nationally in the low-income regions and 0.4 percentage point less
than nationally in the high-income regions. Each low-income region except
the Plains had an above-average increase in per capita income. In the
Southeast and Southwest, major contributing factors were increases that
were larger than in any other region
in the adjusted wage rate differential
component; increases in wage rates in
nearly every industry were above
average. In the Southeast, in addition,
a major factor was an above-average
increase in transfer payments per
capita; the percent of the total population aged 65 and over increased
more than in any other region. In the
Southwest, in addition, and in the
Rocky Mountain region, major factors
were above-average increases in the
percent of the working-age population
that was employed, the industrial mix
component, and nonfarm proprietors'
income per capita. The employment/
working-age population ratio benefited from above-average increases in
employment in all industries; the industrial mix benefited from especially
SURVEY OF CURRENT BUSINESS
large relative increases in employment in mining, construction, and
manufacturing, which were relatively
high-paying industries nationally. In
the Plains, major factors in the weakness in per capita income were a decline that was larger than in any
other region in the adjusted wage rate
differential component and an increase that was smaller than in any
other region in the industrial mix
component. The decline in the adjusted wage rate differential mainly reflected a decline in the earnings rate
of farm proprietors from the unusually high 1973 level.
In the high-income regions, belowaverage increases in per capita personal income in the Mideast and New
England more than offset an aboveaverage increase in the Far West and
no change in the Great Lakes region.
In the Mideast and New England, a
major factor contributing to the weakness in per capita income was a decline in the adjusted wage rate differential component; increases in wage
rates in nearly every industry were
below average. In the Mideast, another major factor was a below-average increase in the percent of the
working-age population that was employed; employment declined or had a
small increase in nearly every industry. In the Far West, major factors in
the strength in per capita income
were above-average increases in the
percent of the working-age population
that was employed and in the industrial mix component. The employment/working-age population ratio
benefited from above-average increases in employment in nearly
every industry; the industrial mix
benefited from especially large relative increases in employment in the
high-paying construction, manufacturing, and transportation-group industries. An increase in personal dividend, interest, and rental income per
capita was larger than in any other
region; an increase in rental income
per capita was especially large, in
part due to an above-average increase
in housing prices.
Availability of Additional Data
Tables that show estimates of the
subcomponents of labor and propri-
September
etors' income per capita, as well as related estimates, for the years covering
the five timespans from 1940 to 1979,
are available on request. Table A
shows, for 1940 and 1950, actual labor
and proprietors' income per employee
(the product of subcomponents a and
b in table 3 of the article), hypothetical labor and proprietors' income per
employee (subcomponent a), and the
ratio of actual to hypothetical labor
and proprietors' income per employee
(subcomponent b); table A also shows
the percent of the working-age population that is employed (subcomponent c). Tables B and C show, for 1940
and 1950, national and regional distributions, by industry, of (1) labor and
proprietors' income per employee and
(2) employment, both of which are
used in calculating subcomponents a
and b. Table D shows, for 1950 forward, actual wages and salaries per
employee, including farm proprietors
(the product of subcomponents 1 and
2), hypothetical wages and salaries
per employee, including farm proprietors (subcomponent 1), and the ratio
of actual to hypothetical wages and
salaries per employee, including farm
proprietors (subcomponent 2); table D
also shows nonfarm proprietors'
income per proprietor (subcomponent
7). Tables E and F show, for 1950 forward, national and regional distributions, by industry, of (1) wages and
salaries per employee, including farm
proprietors, and (2) employment, including farm proprietors, both of
which are used in calculating subcomponents 1 and 2. Table G shows, for
1950 forward, the distribution of employment by type of employee (including subcomponents 3 and 8) and the
percent of the working-age population
that is employed (subcomponents 4
and 9); table G also shows, for 1940
forward, the distribution of population by age (including subcomponents
5, 10, and d). Estimates of the components of per capita personal income
other than those relating to labor and
proprietors' income per capita (components e-g and 11-14), as well as other
labor income per capita (subcomponent 6), can be found in table 2 of the
article. Address all data inquiries to
the U.S. Department of Commerce,
Bureau of Economic Analysis, Regional Economic Analysis Division, Washington, D.C. 20230.
By JOHN T. WOODWARD, EUGENE P. SESKIN, and J. STEVEN LANDEFELD
Plant and Equipment Expenditures,
the Four Quarters of 1982
NoNFARM business in the U.S.
plans to spend $323.7 billion for new
plant and equipment in 1982, 0.7 percent more than in 1981, according to
the BEA quarterly survey conducted
in late July
and August (table 1 and
chart 7).1 Spending totaled $321.5 billion in 1981, 8.7 percent more than in
1980.
The planned spending increase for
1982 is 1.5 percentage points lower
than the 2.2-percent increase reported
in June and 6.6 points lower than the
7.3-percent increase reported in
March. The latest downward revision
in 1982 programs is in the second half
of the year; it is widespread among
the various industries, but is largest
in manufacturing. Manufacturing industries revised planned spending
down by 2.4 percent—durable goods
by 2.7 percent and nondurables by 2.1
percent. Nonmanufacturing revised
planned spending down by 0.9 percent; all major nonmanufacturing industries reported downward revisions
except public utilities and air transportation.
The spending plans, after adjustment by BEA for price changes, indicate a decline of 4.4 percent from
1981 to 1982 (table 2).2 Real spending
in 1981 was unchanged from 1980.
BEA now estimates that the price de-
flator for capital goods will increase
5.5 percent in 1982. (Three months
ago the estimate was 4.8 percent; the
change in the estimated deflator resulted almost entirely from revisions
in the national income and product
accounts.) In 1981, the price deflator
increased 8.5 percent.
Capital spending in current dollars
declined 1.4 percent in the second
quarter of 1982, to a seasonally adjusted annual rate of $323.2 billion,
Table 1.—Expenditures for New Plant and
Equipment by U.S. Nonfarm Business: Percent Change From Preceding Year
1981
actual
Total nonfarm
business
Manufacturing
Durable goods
Primary metals 1
Blast furnaces,
steel works
Nonferrous
metals
Fabricated metals....
Electrical
machinery
Machinery, except
electrical
Transportation l
equipment
Motor vehicles
Aircraft
Stone, clay, and
glass
Other durables
Nondurable goods
1. Plans have been adjusted for biases (table 7, footnote 1). The adjustments were made for each industry.
Before adjustment, plans for 1982 were $127.2 billion
for manufacturing and $196.3 billion for nonmanufacturing. The net effect of the adjustments was to lower
manufacturing $2.94 billion and to raise nonmanufacturing $3.18 billion.
2. Respondents to the quarterly survey are not
asked to report information on price changes reflected
in actual or planned spending figures. To estimate
real spending, the figures reported by survey respondents are adjusted using implicit price deflators developed by BEA based on unpublished data in the national income and product accounts. Real spending since
1977 has been reestimated based on deflators that reflect the revisions of the national income and product
accounts released in July. Real spending plans for
1982 are based on the assumption that plans for each
industry reflect price expectations equal to the average rate of change for that industry's deflator during
the latest four quarters for which it is available.
Food including
beverage
Textiles
Paper
Chemicals
Petroleum .
Rubber
Other nondurables...
Nonmanufacturing
Mining
Transportation
Railroad
Air
Other
Public utilities.
Electric
Gas and other
Trade and services
Communication and
other
1982 Planned as reported
by business in:
Jan.Feb.
Jul.Aug.
May
8.7
7.3
2.2
9.5
7.9
.4
5.0
8.7
5.3
7.7
-1.1
1.3
0.7
2.0
-3.8
-.8
28.7
15.7
20.7
11.3
.2
-14.9
12.3
-10.1
-2.4
-16.8
-10.4
7.5
22.2
14.1
-3.8
6.4
14.1
12.7
1.3
11.3
-8.5
1.1
-5.9
12.9
-11.9
-13.6
-3.8
-16.4
-18.4
-8.3
-17.7
11.8
1.3
3.4
-10.0
-5.8
-11.4
-6.5
14.1
7.1
11.2
-3.9
-1.3
8.0
28.4
1.9
7.4
-1.8
-2.5
.6
13.1
9.0
14.6
5.2
8.3
5.0
-.3
59
-11.9
4.7
5.0
6.7
9.3
58
-18.3
-6.5
2.7
2.0
-3.2
2.2
7.0
3.4
2.4
24.8
3
-.3
-5.1
4.6
8.7
12.3
7.2
9.1
20.8
2.2
4.3
9.9
.8
1.7
-2.3
2.3
6.4
1.4
1l
8.3
5.8
18.1
4.7
6.8
-2.6
3.0
5.2
-4.6
6.5
8.6
-.5
5.6
4.8
2.9
1.2
11.0
11.4
5.1
3.1
1. Includes industries not shown separately.
••!••••••••••••
CHART 7
Changes in Business Investment
-10
0
)TAL NONFARM
BUSINESS
Communication and
Other
Air Transportation
Trade and Services
20
i
1982 Planned
i 1981 Actual
^m
I
±=^
cz:i
tn
Nondurable Goods
Manufacturing
1
Gas, Water, and
Sanitary Services
i
Miscellaneous
Transportation
i1=3
1
Mining
Durable Goods
Manufacturing
30
i
ET
Electric Utilities
Railroad
Percent
10
|
8.3
1.8
150
about the same as planned spending
reported 3 months ago; manufacturers
spent less than planned and nonmanufacturers spent more. Plans in the
latest survey indicate a 0.9-percent
decline in the third quarter and a 1.3percent increase in the fourth. In real
terms, spending declined 3.1 percent
in the second quarter; plans indicate
a 1.9-percent decline in the third
quarter and little change in the
fourth.
Other highlights of the survey are:
• The rate of capacity utilization in
manufacturing was 71 percent, 1 percentage point below the rates reported for March and December (table 3);
the June rate is 4 points below the recession low in March and June 1975
and is the lowest recorded since BEA
began its survey in 1965.
i
•HD
U.S. Department of Commerce, Bureau of Economic Analysis
82-9-7
35
36
SURVEY OF CURRENT BUSINESS
• The value of new investment
projects started by manufacturers increased by $1.3 billion—or 4.7 percent—to $29.0 billion in the second
quarter, and starts by public utilities
totaled $6.0 billon compared with a
negative $4.3 billion in the first quarter (table 4).
• Spending in current dollars for
new plant in the second quarter declined 1.1 percent from the first quarter and spending for new equipment
declined 1.6 percent (table 5). Real
spending for plant declined 2.6 percent and real spending for equipment
declined 3.3 percent (table B).
The downward revision in spending
programs between the January-February and July-August surveys is the
sharpest cutback recorded in the
quarterly survey for a 6-month
period. Previously, the largest downward revision for a 6-month period—
4.1 percentage points—was in 1969.
The continued weakness in 1982
spending plans indicated by the latest
survey is consistent with other gages
of future investment activity and with
recent economic developments having
an influence on investment decisions.
Among the former, net new capital
appropriations in manufacturing declined 28 percent from the first quarter to the second, and new orders for
nondefense capital goods declined 5
percent; the proportion of manufacturers reporting a need for more capacity declined 2 points from March
to June (table 6). Indicators of continued sluggishness of the economy in
the second quarter include: the de-
Table 2.—Expenditures for New Plant and
Equipment by U.S. Nonfarm Business in
Constant (1972) Dollars: Percent Change
From Preceding Year
r
1980
Total nonfarm business
Manufacturing
Nondurable goods
Nonmanufacturing
..
1981
1982 >
0.9
0.2
-4.4
8.2
1.2
-6.6
74
92
7
35
-6.7
-3.1
2
110
Mining
Transportation
Public utilities
Trade and services
Communication and other
r
-3.9
-4.3
17
-.4
56
-75
-1.4
-.1
2
r
Revised.
1. Based on plans reported in July-August SURVEY.
65
3.1
123
-2.6
-.5
1.9
-5.4
September
CHART8
Manufacturers' Capacity Utilization
Rates by Major Industry Groups
Percent
90
ALL MANUFACTURERS
86
82
78
74
70
66
90
Nondurable Goods
86
82
78
74
Durable Goods
70
66 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 h 11
90
Primary-Processed
86
82
78
74
70
66
1971
73
75
77
81
79
Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
Table 3.—Manufacturers' Capacity Utilization Rates: Operating Rates and Ratios of Operating to Preferred Rates ]
[Seasonally adjusted]
Operating rates (percent)
June
All manufacturing
Asset size:
$100 0 million and over
$10.0 to $99.9 million
Under $10.0 million.. .
Ratios of operating to preferred rates
1982
1981
Industry and asset size
.
Durable goods 2
Sept.
Dec.
March
1982
1981
June
June
Sept.
Dec.
March
June
78
76
72
72
71
79
78
75
76
77
74
72
74
71
73
74
70
72
72
69
.84
.84
.81
.81
.83
.80
.77
.80
.77
.78
.80
.77
.76
.78
.75
0.84
0.81
0.77
0.78
0.76
77
74
70
70
68
.82
.79
.74
.74
.72
Asset size:
$100 0 million and over
$10 0 to $99 9 million
Under $10.0 million
79
75
71
75
74
72
70
69
71
71
68
68
69
66
64
.83
.81
.78
.79
.80
.78
.74
.74
.76
.75
.74
.74
.73
.71
.69
Primary metals
Klectrical machinery
Machinery, except electrical
Transportation equipment 3
Motor vehicles
Aircraft
Stone clay, and glass
77
76
90
73
73
75
71
74
76
89
65
60
75
71
63
74
88
60
51
73
66
61
73
85
64
61
71
68
52
72
82
68
67
70
62
.83
.84
.95
.75
.72
.81
.78
.80
.84
.94
.67
.59
.81
.76
.68
.82
.93
.61
.50
.79
.71
.66
.81
.90
.66
.60
.77
.74
.56
.80
.86
.69
.66
.76
.68
Nondurable goods 4
80
78
75
75
76
.86
.85
.81
.82
.82
Asset size:
$100.0 million and over
$10 0 to $99 9 million
Under $10.0 million
80
81
78
79
80
75
75
79
70
76
78
71
76
78
75
.87
.87
.84
.85
.86
.82
.82
.85
.78
.83
.84
.80
.82
.84
.81
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
79
82
89
77
76
77
78
81
85
75
72
72
74
75
83
70
73
66
75
74
83
72
70
72
78
74
81
70
75
76
.86
.85
.92
.85
.80
.82
.85
.84
.88
.83
.77
.76
.83
.78
.86
.78
.78
.70
.85
.77
.91
.80
.73
.77
.85
.77
.84
.77
.79
.81
Primary-processed goods 5
Advanced-processed goods 6
78
78
76
76
71
73
70
73
66
74
.83
.84
.81
.82
.76
.78
.75
.79
.71
.79
....
....
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, 196573," SURVEY OF CURRENT BUSINESS, July 1974, p. 47.
2. Also includes lumber, furniture, fabricated metals, instruments, and miscellaneous.
3. Also includes other transportation equipment.
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 & 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.
SURVEY OF CURRENT BUSINESS
September
cline in real final sales, the decline in
capacity utilization, the continued
poor performance of profits, and the
persistence of high long-term interest
rates on corporate debt. It is unlikely
that plans reported by business in the
latest survey would have reflected the
recent declines in short-term interest
rates.
Manufacturing Programs
Manufacturing industries' currentdollar spending in the second quarter
37
For the year 1982, manufacturers
plan a 2.0-percent decrease in current-dollar spending. Durable goods
industries plan a 3.8-percent decrease
and nondurable goods, a 0.3-percent
decrease. In durables, decreases are
planned by motor vehicles, nonferrous
metals, stone-clay-glass, fabricated
metals, aircraft, and "other durables";
increases are planned by iron and
steel, nonelectrical machinery, and
electrical machinery. In nondurables,
decreases are planned by textiles,
paper, food-beverage, and rubber; in-
fell 3.5 percent, to a seasonally adjusted annual rate of $123.8 billion, after
a 1.1-percent increase in the first
quarter. Plans are for small decreases
in the second half of 1982—0.5 percent in the third quarter and 0.2 percent in the fourth. Spending in both
durables and nondurables declined in
the second quarter—3.0 and 4.1 percent, respectively. In the third quarter, durables plan a 1.6-percent increase and nondurables, a 2.5-percent
decline; in the fourth quarter, nondurables plan a 1.6-percent increase
and durables, a 2.0-percent decline.
(Continued on p. 40)
Table 4.—Starts and Carryover of Plant and Equipment Projects, Manufacturing and Public Utilities
[Billions of dollars; quarters seasonally adjusted]
Carryover '
Starts '
19 82
1981
19 82
1981
II
III
IV
I
II
June
Sept.
Dec.
March
June
123.32
135.19
32.90
33.33
33.68
27.73
29.03
90.97
91.78
93.73
89.37
87.47
Durable goods 3
Primary metals
Electrical machinery
Machinery, except electrical
Transportation equipment
Stone, clay, and glass
5767
7.91
1025
10.72
16.50
346
6889
978
11 50
15.95
1935
322
17 49
2.87
262
3.82
5.51
58
18 15
246
359
3.04
546
94
18 23
229
322
6.02
331
90
10 95
1.32
223
2.32
3.18
34
12 55
156
228
3.04
3.98
61
38 84
852
496
6.48
1230
1 86
41 34
901
565
6.32
1320
197
4437
9.18
649
8.75
12.26
213
40.12
8.28
602
7.74
11.34
179
3791
7.66
550
7.39
11.61
171
Nondurable goods 3
Food including beverage
Paper
Chemicals
Petroleum
65.65
741
774
1401
2663
66.29
833
656
1334
2764
15.41
260
127
274
6 11
15.19
228
167
370
523
15.45
1 40
230
301
6 25
16.77
1 52
184
328
782
16.49
1 62
1 50
407
743
52.13
547
570
11 72
23 20
50.44
559
562
11 68
2177
49.36
507
628
11 08
21 08
49.26
4.53
660
1078
2174
49.56
425
659
1139
2221
4369
3498
13 78
929
1 00
4 30
6 02
135 57
134 97
126 04
111 70
10737
Manufacturing
Public utilities
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 of the period.
3. Includes industries not shown separately.
Table 5.—Expenditures for New Plant and for New Equipment by U.S. Nonfarm Business
[Billions of dollars; quarters seasonally adjusted at annual rates]
19 82
19 31
I
Total nonfarm business
Plant
Equipment
II
III
IV
I
II
295.63
11755
17808
321.49
13346
18804
312.24
12857
18367
316.73
13105
18568
328.25
13640
19185
327.83
136.67
191 17
327.72
139.49
18823
323.22
137.95
18528
115.81
3606
7976
126.79
4070
8609
124.50
3903
8547
125.49
4026
8523
130.11
4175
8837
126.91
4131
8560
128.32
4291
8541
123.77
4205
8171
58 91
16 28
4263
61 84
1603
4582
61 24
16 50
44 74
63 10
16 60
46 50
62 58
1570
46 88
6078
15 46
4532
60 84
1603
44 81
5903
1534
4369
5690
1978
37 12
6495
2468
4027
6327
2254
4073
6240
2366
3873
67 53
2605
4148
6614
2586
4028
67.48
2688
4060
6474
2672
3803
17981
8149
9832
194.70
92 75
10195
187.74
8954
9820
191 24
9079
10045
198 13
9466
10348
20092
9535
10557
19940
9658
10282
19946
9589
10356
1351
7.75
576
1686
10.75
611
1620
9.98
622
1680
1107
573
17 55
1083
672
1681
1099
582
1760
11.53
608
1656
1076
580
12.09
299
9 10
12.05
333
872
11.74
3 13
861
11.70
318
852
11 61
340
821
1312
355
956
11.99
396
803
12.32
421
8 12
3544
23.00
1244
3840
25.23
1317
3605
23.01
1304
3784
25.29
1255
3955
25.84
1371
3974
2645
1329
40 12
25.80
1432
4140
26.64
1476
Trade and services
Plant
Equipment
81.79
3523
46.56
86.33
3943
46.90
83.43
3963
43.80
8588
3859
47.29
8755
3992
47.63
8833
3952
4881
87.80
3998
47.82
8885
3985
49.00
Communication and other *
Plant
Equipment
3699
12.52
2446
4106
14.02
2705
4032
13.79
2653
3902
12.66
2636
4189
1467
2721
4292
1484
2808
4189
15.32
2658
4033
14.44
2589
.
.
.
.
.
Manufacturing
Plant
Equipment
Durable goods
Plant
Equipment
Nondurable goods
Plant
Equipment
.
. . .
. . . . . . . .
Nonmanufacturing
Plant
Equipment
Mining
Plant
Equipment
..
.
.
Transportation
Plant
Equipment
Public utilities .
Plant
Equipment
. . . . . .
. . . .
1. Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
REVISED ESTIMATES OF CONSTANT-DOLLAR EXPENDITURES FOR PLANT AND EQUIPMENT, 1977-82
The tables below present revised estimates of plant and equipment expenditures (1972
dollars). These estimates are based on deflators that reflect the revisions of the national
income and product accounts released in July. For the methodology and estimates prior to
1977, see "Constant-Dollar Estimates of New Plant and Equipment Expenditures, 1947-80,"
SURVEY OF CURRENT BUSINESS, September 1981, pp. 26-41.
Table A.—Expenditures for New Plant
[Billions of 1972 dollars; quarters
11)77
I
Total nonfarm business
Manufacturing
Durable goods
Primary metals 2
Blast furnaces
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Transportation equipment 2
Motor vehicles . ...
Aircraft
Stone clay and glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
.
Petroleum
Rubber
Other nondurables
...
.
.
.
.
..
..
.
....
Nonmanufacturing
... .
....
Mining
Transportation
Public utilities
..
.
Trade and services
.
..
Wholesale and retail trade
Finance insurance, and real estate
Personal business, and professional services
Communication and other 3
Communication
Other
...
. ..
..
.
III
II
IV
1
134.76
146.45
157.72
159.12
159.44
152.41
130.98
133.40
138.53
136.11
2
46.11
48.80
55.44
60.01
60.75
56.74
44.69
45.72
47.69
46.34
3
4
5
6
7
8
9
10
11
12
13
14
23.45
368
1.90
126
1.71
331
4.65
6.13
3.94
1.37
1 51
2.46
25.74
355
1.57
128
1.84
380
4.75
7.47
4.54
1.97
191
2.42
29.71
373
1.68
132
1.78
447
6.34
8.73
4.73
2.98
221
2.45
31.91
392
1.68
1.55
1.59
5.60
6.51
9.61
4.70
3.79
196
2.72
31.67
381
1.44
163
1.48
571
7.04
9.22
4.93
3.35
1 50
2.91
29.60
366
.1.72
128
1.29
5.92
7.41
7.44
3.89
2.95
125
2.64
22.79
379
2.03
127
1.68
309
4.70
568
3.66
126
141
245
23.00
371
1.94
129
1.65
3 14
4.46
598
3.76
134
1 52
253
24.32
366
1.89
125
1.73
345
4.86
652
4.11
1 53
161
249
2369
355
174
123
1.79
356
4.58
634
4.23
136
1 51
235
15
16
17
18
19
20
21
22
22.66
351
.84
245
5.50
731
1.12
1.93
23.05
378
.86
251
5.28
708
1.33
2.21
25.73
381
.85
319
6.10
772
1.26
2.81
28.11
3.91
.85
3.64
6.65
8.79
.93
3.35
29.08
406
.75
337
6.65
998
.88
3.39
27.14
367
.58
300
6.48
923
.82
3.35
2190
320
80
240
555
7 14
.98
184
2272
352
.86
252
543
727
1.04
208
2337
364
85
245
552
776
1.21
193
2264
366
87
242
550
706
127
186
23
88.65
97.65
102.27
99.11
98.69
95.67
86.29
87.68
9084
8977
24
25
26
5.26
626
16.82
5.13
655
17.54
5.10
679
18.25
5.10
604
17.55
5.39
559
17.30
472
544
17.22
537
621
1665
533
669
1661
615
1707
481
600
1694
27
28
29
30
40.89
1164
13.77
1548
46.43
1280
17.35
1628
49.44
1358
18.96
1690
47.32
12 14
18.95
1624
47.27
11 64
19.48
1615
46.38
3940
1131
1280
1528
39.89
11 15
13.17
1557
4235
1218
1418
1599
4193
1190
1493
1510
31
32
1941
1329
6.12
2199
1542
6.57
2270
1674
595
23.09
1785
5.24
23 14
1770
544
2190
1866
1225
640
19 17
13 11
606
1973
1387
586
2010
1394
615
oq
1. In deflating the planned expenditures reported by survey respondents, it is assumed that the
reported plans for each industry reflect a price increase equal to the average quarterly growth
rate of that industry's deflator from the second quarter of 1981 to the second quarter of 1982.
2. Includes industries not shown separately.
3. Includes construction; social services and membership organizations; and forestry, fisheries,
and agricultural services.
Table B.—Expenditures for New Plant and
[Billions of 1972 dollars; quarters
1)77
I
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 1
Plant
Equipment
.
1
..
.
.
.
.
....
.
....
III
IV
1
2
3
134.76
50.62
84 14
146.45
53.02
9342
157.72
53.50
10422
159.12
52.39
10673
159.44
53.81
10564
130.98
49.62
8136
133.40
50.55
8285
138.53
51.23
8730
136.11
51.06
85.04
4
5
6
46.11
12.91
33.20
48.80
13.87
34.93
5544
14.83
40.62
60.01
15.07
44.95
6075
15.20
45.55
44 69
12.51
32.18
4572
12.92
32.79
47 69
12.94
34.75
46 34
13.25
38.09
7
8
9
23.45
5.39
18.06
25.74
6.26
19.48
29.71
7.21
22.50
31.91
7.48
24.42
31.67
6.90
24.77
22.79
5.11
17.68
23.00
546
1754
24.32
572
1860
23 69
5 29
18.41
10
11
12
22.66
7.51
1515
23.05
7.60
1545
25.73
761
1812
28.11
7.58
20.52
2908
829
2079
2190
740
1450
2272
747
1525
2337
723
16 15
22 64
7.96
14.68
13
14
15
88.65
37.71
5093
97.65
39.16
5849
102.27
3867
6360
99.11
37.32
6178
98.69
3861
6008
86.29
37 11
49 18
87.68
3763
5005
90.84
3829
5255
89 77
37.82
51.95
16
17
18
5.26
255
2.71
5.13
226
2.87
510
214
2.95
5.10
240
2.70
539
278
261
537
269
268
533
262
271
555
255
300
4 81
2 35
2'46
19
20
21
626
1.58
468
655
1.41
515
679
1.42
537
604
1.39
466
559
144
4 15
621
163
458
669
202
467
6 15
132
'483
6 00
1.37
4.63
22
23
24
16.82
971
7 11
17.54
1054
701
1825
1098
727
17 55
1064
691
1730
1067
6 63
1665
987
678
1661
949
7 12
1707
9 52
7 55
16 94
25
26
27
4089
1757
23.33
4643
1805
2838
4944
1732
3212
4732
1671
3061
4727
1769
2958
3940
1637
2303
3989
17 26
2263
42 35
1867
2368
A-I qq
28
29
30
1941
6.30
13 11
2199
6.91
1508
2270
681
1588
2309
6.18
1691
2314
603
17 11
18 66
655
12 11
19 17
624
1292
1973
624
1349
Includes construction; social services and membership organizations; and forestry, fisheries, and agricultural services.
38
II
6 99
17 97
23 %
9ft 1 A
6 19
13 91
SURVEY OF CURRENT BUSINESS
September
39
and Equipment by U.S. Nonfarm Business
seasonally adjusted at annual rates]
197 8
I
1980
19 79
II
III
I
IV
II
III
IV
I
II
19 82
19 31
III
IV
I
II
IV
III
I
II
III 1
IV1
Line
139.68
146.10
146.92
153.09
154.61
156.83
158.18
161.25
161.54
159.78
158.16
157.00
160.38
15784
161.33
158.22
157.49
152.66
149.85
149.63
1
46.15
48.73
48.71
51.61
53.14
54.30
56.08
58.26
59.85
60.45
59.81
59.95
61.83
60.42
61.75
59.00
59.77
56.46
55.76
54.98
2
23.94
3.26
1.47
1.16
1.83
3.63
4.64
6.53
4.26
1.55
1.74
2.30
25.58
3.72
1.75
1.27
1.92
3.86
4.75
7.10
4.63
1.66
1.85
2.39
26.09
3.60
1.56
1.30
1.84
3.73
4.80
7.72
4.58
2.08
1.95
2.46
27.37
3.61
1.49
1.40
1.79
3.99
4.81
8.55
4.71
2.59
2.10
2.52
28.23
3.53
1.42
1.42
1.77
4.24
5.36
8.53
4.58
2.62
2.29
2.50
29.18
3.66
1.59
1.32
1.85
4.12
6.43
8.31
4.57
2.82
2.25
2.56
30.21
3.79
1.78
1.25
1.77
4.46
6.71
9.02
4.93
3.09
2.15
2.31
31.23
3.95
1.92
1.31
1.72
5.07
6.87
9.04
4.84
3.38
2.16
2.42
32.23
4.17
1.94
1.51
1.71
5.27
6.50
9.79
4.79
4.05
2.13
2.66
32.21
3.99
1.80
1.48
1.59
5.43
6.48
9.80
4.69
4.00
2.00
2.92
31.29
3.99
1.61
1.67
1.62
5.83
6.17
9.23
4.57
3.59
1.90
2.55
31.90
3.53
1.35
1.56
1.43
5.86
6.88
9.62
4.76
3.54
1.82
2.75
32.13
3.82
1.36
1.69
1.51
5.55
6.94
9.74
5.08
3.66
1.63
2.95
32.32
3.85
1.36
1.79
1.42
5.88
6.87
9.85
5.01
3.86
1.45
3.01
31.75
3.68
1.39
1.62
1.50
6.35
6.77
9.01
4.97
3.09
1.54
2.89
30.50
3.90
1.64
1.43
1.50
5.07
7.57
8.30
4.65
2.82
1.38
2.78
30.69
4.11
1.88
1.44
1.47
5.87
7.05
8.07
4.16
3.30
1.26
2.86
29.31
3.92
1.84
1.35
1.30
6.03
7.06
7.18
3.54
3.08
1.25
2.58
29.62
3.23
1.55
1.15
1.20
6.38
7.33
7.73
4.14
3.01
1.24
2.51
28.77
3.36
1.59
1.19
1.18
5.39
8.21
6.79
3.73
2.41
1.24
2.61
3
4
5
6
7
8
9
10
11
12
13
14
22.21
3.78
23.15
3.74
22.62
3.68
24.23
3.93
24.91
3.91
25.12
3.86
25.87
3.66
27.03
3.82
27.62
3.90
28.24
4.04
28.52
3.92
28.05
3.79
29.70
4.35
28.11
3.98
30.00
4.24
28.51
3.69
29.08
3.97
27.14
3.60
26.14
3.55
26.20
3.58
2.36
5.30
6.62
1.30
1.99
2.45
5.25
7.36
1.37
2.10
2.55
5.23
6.74
1.32
2.24
2.67
5.36
7.59
1.33
2.52
3.09
5.70
7.53
1.34
2.52
3.17
6.09
7.23
1.30
2.67
3.18
6.23
7.68
1.23
3.00
3.30
6.39
8.43
1.15
3.05
3.53
6.83
8.20
1.00
3.29
3.68
6.75
8.40
3.67
6.87
9.13
3.66
6.15
9.41
3.57
6.55
10.18
3.22
5.92
10.00
3.48
7.24
9.85
3.22
6.87
9.89
2.96
6.83
10.18
2.91
6.44
9.54
3.09
6.28
8.73
3.06
6.39
8.45
3.61
3.17
3.35
3.40
3.33
3.58
3.26
3.61
3.19
3.14
3.45
15
16
17
18
19
20
21
22
93.53
97.37
98.20
101.48
101.47
102.53
102.10
102.99
101.70
99.33
98.35
97.05
98.56
97.42
99.58
99.22
97.72
96.20
94.09
94.66
23
4.79
6.77
16.98
5.15
6.21
17.16
5.24
6.45
17.62
5.36
6.79
18.41
5.34
6.58
18.11
5.04
6.68
18.49
4.99
6.91
18.67
5.01
7.00
17.72
4.79
6.41
18.48
4.98
6.06
17.51
5.17
6.04
17.44
5.48
5.67
16.76
5.56
5.62
16.99
5.37
5.47
17.22
5.63
5.36
17.75
5.00
5.91
17.24
5.19
5.38
17.39
4.80
5.49
17.55
4.43
5.01
16.89
4.47
5.89
17.05
24
25
26
43.99
12.40
16.39
15.20
47.06
12.42
17.32
17.32
46.22
13.10
17.50
15.63
48.44
13.29
18.18
16.97
49.02
13.10
18.38
17.54
49.86
13.94
19.01
16.90
48.75
13.46
18.71
16.58
50.13
13.80
19.74
16.58
48.15
12.65
18.84
16.66
47.04
13.00
18.32
15.71
46.80
11.85
18.87
16.09
47.31
11.06
19.75
16.50
46.57
10.95
18.88
16.74
47.05
11.74
18.53
16.78
47.57
11.70
20.32
15.56
47.89
12.19
20.17
15.53
47.60
10.91
20.05
16.63
47.24
11.13
19.18
16.92
45.70
44.97
27
28
29
30
21.01
14.76
6.25
21.79
15.29
6.50
22.68
15.78
6.89
22.49
15.84
6.65
22.42
15.94
6.48
22.46
16.23
22.78
17.03
5.75
23.13
17.78
5.35
23.88
18.59
5.29
23.75
18.47
5.28
22.90
17.80
5.10
21.83
16.53
5.29
23.82
18.45
22.31
17.10
5.21
23.26
17.73
5.53
23.17
17.53
5.65
22.15
16.57
5.58
21.13
15.90
5.22
22.06
22.27
538
31
32
33
I
II
III
IV
I
.86
.88
.86
.83
.81
.89
.80
623
.88
.87
.84
.92
.80
.97
.88
.82
.75
.90
.78
.88
.73
.72
.89
.65
.86
.60
.88
.55
.53
.79
.86
.75
for New Equipment by U.S. Nonfarm Business
seasonally adjusted at annual rates]
1978
I
II
1979
III
IV
I
II
1980
III
IV
1981
II
1982
III
IV
I
II
Line
139.68
52.77
86.91
146.10
52.91
93.19
146.92
52.64
94.27
153.09
53.78
99.31
154.61
54.52
100.09
156.83
53.87
102.96
158.18
53.20
104.98
161.25
52.40
108.85
161.54
54.20
107.35
159.78
52.46
107.32
158.16
51.34
106.82
157.00
51.57
105.43
160.38
54.22
106.16
157.84
53.40
104.44
161.33
54.80
106.52
158.22
52.80
105.42
157.49
53.42
104.07
152.66
52.05
100.61
1
2
3
46.15
13.91
32.24
48.73
13.28
35.45
48.71
13.91
34.80
51.61
14.36
37.25
53.14
14.93
38.21
54.30
14.85
39.45
56.08
14.95
41.13
58.26
14.57
43.69
59.85
14.98
44.87
60.45
15.45
44.99
59.81
15.20
44.61
59.95
14.64
45.31
61.83
15.32
46.50
60.42
15.32
45.10
61.75
15.56
46.19
59.00
14.59
44.41
59.77
15.04
44.73
56.46
14.37
42.08
4
5
6
23.94
6.02
17.92
25.58
6.04
19.54
26.09
6.31
19.78
27.37
6.69
20.68
28.23
7.05
21.17
29.18
7.26
21.92
30.21
7.20
23.01
31.23
7.33
23.89
32.23
7.84
24.38
32.21
7.79
24.42
31.29
7.51
23.77
31.90
6.79
25.11
32.13
7.28
24.85
32.32
7.16
25.15
31.75
6.75
25.00
30.50
6.43
24.06
30.69
6.62
24.07
29.31
6.23
23.08
7
8
9
22.21
7.89
14.32
23.15
7.24
15.90
22.62
7.60
15.02
24.23
7.67
16.56
24.91
7.88
17.03
25.12
7.59
17.53
25.87
7.75
18.12
27.03
7.24
19.79
27.62
7.13
20.49
28.24
7.67
20.57
28.52
7.69
20.83
28.05
7.85
20.21
29.70
8.05
21.65
28.11
8.16
19.95
30.00
8.81
21.19
28.51
8.16
20.35
29.08
8.42
20.66
27.14
8.14
19.00
10
11
12
93.53
38.86
54.67
97.37
39.63
57.74
98.20
38.73
59.48
101.48
39.42
62.07
101.47
39.59
61.88
102.53
39.02
63.52
102.10
38.25
63.85
102.99
37.83
65.16
101.70
39.22
62.48
99.33
37.00
62.33
98.35
36.14
62.21
97.05
36.93
60.12
98.56
38.90
59.66
97.42
38.08
59.34
99.58
39.25
60.33
99.22
38.21
61.01
97.72
38.38
59.34
96.20
37.68
58.52
13
14
15
4.79
2.26
2.53
5.15
2.33
2.82
5.24
2.35
2.88
5.36
2.11
3.26
5.34
2.15
3.19
5.04
2.06
2.98
4.99
2.12
2.87
5.01
2.25
2.77
4.79
2.16
2.63
4.98
2.27
2.71
5.17
2.54
2.63
5.48
2.65
2.83
5.56
2.79
2.77
5.37
2.92
2.45
5.63
2.80
2.83
5.00
2.63
2.36
5.19
2.72
2.47
4.80
2.48
2.32
16
17
18
6.77
1.50
5.26
6.21
1.30
4.91
6.45
1.44
5.01
6.79
1.39
5.40
6.58
1.38
5.20
6.68
1.43
5.26
6.91
1.44
5.47
7.00
1.42
5.58
6.41
1.54
4.87
6.06
1.35
4.71
6.04
1.33
4.71
5.67
1.33
4.34
5.62
1.39
4.23
5.47
1.39
4.08
5.36
1.47
3.89
5.91
1.50
4.41
5.38
1.67
3.71
5.49
1.75
3.73
19
20
21
16.98
10.39
6.59
17.16
10.29
6.87
17.62
10.40
7.21
18.41
11.06
7.35
18.11
10.89
7.22
18.49
11.15
7.34
18.67
11.38
7.29
17.72
10.50
7.23
18.48
11.31
7.17
17.51
10.52
6.99
17.44
10.33
7.11
16.76
10.41
6.35
16.99
10.18
6.80
17.22
10.85
6.37
17.75
10.89
6.87
17.24
10.75
6.50
17.39
10.36
7.04
17.55
10.54
7.01
22
23
24
43.99
18.40
25.59
47.06
18.75
28.31
46.22
17.38
28.84
48.44
17.65
30.79
49.02
18.07
30.95
49.86
17.43
32.43
48.75
16.68
32.08
50.13
17.10
33.03
48.15
17.73
30.41
47.04
16.26
30.78
46.80
15.86
30.94
47.31
17.00
30.31
46.57
18.21
28.37
47.05
17.40
29.65
47.57
17.87
29.70
47.89
17.27
30.62
47.60
17.44
30.16
47.24
17.11
30.13
25
26
27
21.01
6.32
14.69
21.79
6.95
14.84
22.68
7.15
15.53
22.49
7.21
15.28
22.42
7.10
15.32
22.46
6.96
15.50
22.78
6.63
16.15
23.13
6.56
16.56
23.88
6.48
17.40
23.75
6.60
17.15
22.90
6.08
16.82
21.83
5.55
16.28
23.82
6.33
17.49
22.31
5.52
16.79
23.26
6.22
17.04
23.17
6.06
17.12
22.15
6.20
15.95
21.13
5.80
15.33
28
29
30
40
SURVEY OF CURRENT BUSINESS
Table 6.—Manufacturers' Evaluation of Their Plant and Equipment Facilities
September
]
creases are planned by chemicals, petroleum, and "other nondurables."3
In real terms, manufacturers plan a
6.6-percent decline in 1982 spending;
the decline is 6.5 percent in durables
and 6.7 percent in nondurables. In
1981, manufacturers increased real
spending 1 percent.
Manufacturers started new investment projects during the second quarter of 1982 totaling $29.0 billion—$1.3
billion, or 4.7 percent, more than in
the first quarter. The second-quarter
increase was in durable goods industries, which reported an increase of
$1.6 billion; nondurable goods reported a decrease of $0.3 billion. The
value of new projects started by man-
[Percent distribution of gross depreciable assets]
1981
More plant and equipment needed:
All manufacturing
Durable goods 2
Primary metals 3
Metal products
. ...
Nondurable goods 2
Food including beverage
Chemicals and petroleum
1982
June 30
Sept. 30
31 3
31 1
274
189
347
35 1
419
402
27 5
253
309
347
416
403
58.5
590
652
537
580
518
523
54 1
551
483
568
530
510
44 2
10 2
13.6
159
11 6
6.9
63
75
14 8
174
264
123
12.3
74
155
Dec. 31
Mar. 31
June 30
27 2
25 3
23 3
22 5
112
290
320
383
356
198
84
259
30 6
270
38 1
18 1
38
256
28 4
198
396
57 8
559
523
564
595
51 5
57 5
54 i
542
535
543
54 1
64 1
47 4
53 5
51 9
56 4
494
551
725
473
15 0
216
365
146
8.5
102
69
20 6
260
381
198
153
89
145
23 2
300
398
250
165
77
13 1
About adequate:
All manufacturing
Durable goods 2
Primary metals
Metal products 3
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
3. The 1982 estimate of planned spending for petroleum was lowered because of adjustments for mergers
that occurred since the latter part of 1981, and the estimates for iron and steel and for chemicals were increased.
1. According to respondent companies' characterization 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.
Table 7.—Expenditures for New Plant and Equipment by U.S. Nonfarm Business
[Billions of dollars; quarters seasonally adjusted at annual rates]
1980
Manufacturing
....
Durable goods
Primary metals 2
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery except electrical
Motor vehicles
Aircraft
Stone clay and3 glass
Other durables
..
....
.
Nondurable goods
..
Textiles
Paper
Chemicals
Rubber
Other nondurables 4
...
19 82
19 81
1982 1
I
II
III
IV
I
II
IIP
IV1
321.49
323.66
312.24
316.73
328.25
327.83
327.72
323.22
320.24
324.47
115.81
126.79
124.23
124.50
125.49
130.11
126.91
128.32
123.77
123.09
122.89
58.91
7.71
3.29
3.11
2.96
9.59
11.59
18 16
9.06
7.03
3.82
5.09
61.84
8.12
3.17
3.46
2.96
10.31
13.22
18.39
10.08
6.43
3.14
5.69
59.50
8.05
3.82
2.88
2.65
10.98
14.32
15.38
8.22
5.89
2.78
5.33
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
62.58
7.89
3.04
3.49
3.05
11.60
12.82
18.25
10.31
5.99
3.28
5.70
60.78
8.48
3.64
3.13
3.05
9.49
14.34
17.01
9.72
5.58
2.96
5.45
60.84
8.92
4.13
3.16
3.00
10.79
13.34
16.39
8.64
6.48
2.73
5.67
59.03
8.70
4.13
3.05
2.69
11.22
13.55
14.87
7.49
6.21
2.77
5.22
59.98
7.26
3.52
2.63
2.50
11.96
14.15
16.21
8.85
6.14
2.79
5.12
58.80
7.63
3.64
2.76
2.49
10.18
15.90
14.42
8.03
4.97
2.82
5.35
56.90
7.39
1.62
6.80
12.60
20.69
1.73
6.08
64.95
8.22
1.56
6.72
13.60
26.56
1.77
6.53
64.74
7.74
1.27
6.28
13.97
27.09
1.71
6.67
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
67.53
8.67
1.54
7.01
14.95
26.61
1.80
6.94
66.14
7.66
1.53
6.56
14.42
27.81
1.76
6.41
67.48
8.23
1.39
6.05
14.35
28.61
1.80
7.06
64.74
7.59
1.31
6.04
13.83
27.82
1.80
6.35
63.10
7.56
1.21
6.49
13.67
26.20
1.67
6.32
64.09
7.67
1.18
6.48
14.10
26.06
1.60
7.00
295.63
Total nonfarm business
1981
179.81
194.70
199.43
187.74
191.24
198.13
200.92
199.40
199.46
197.15
201.57
Mining
13.51
16.86
16.48
16.20
16.80
17.55
16.81
17.60
16.56
15.66
16.20
Transportation
Railroad
Air
Other
12.09
425
4.01
382
12.05
4.24
3.81
4.00
12.33
4.51
3.86
3.95
11.74
4.23
3.85
3.66
11.70
4.38
3.29
4.04
11.61
4.18
3.34
4.09
13.12
4.18
4.82
4.12
11.99
4.56
3.20
423
12.32
4.73
3.54
406
11.38
4.10
3.79
350
13.56
4.64
4.85
4.07
Public utilities
Electric
Gas and other
35.44
28.12
7.32
38.40
29.74
8.65
40.90
32.29
8.61
36.05
27.69
8.36
37.84
29.32
8.53
39.55
30.54
9.01
39.74
31.14
8.60
40.12
30.95
9.17
41.40
32.26
9.14
40.54
32.67
7.87
41.65
33.15
8.50
Trade and services
Wholesale and retail trade
Finance insurance and real estate
Personal business and prof svcs
81.79
21.78
3193
2808
86.33
22.43
3436
29.54
87.40
83.43
20.57
3283
30.03
85.88
22.54
3260
30.74
87.55
22.71
3611
28.73
88.33
23.70
3589
28.73
87.80
2138
3578
3063
88.85
22.11
3473
3201
86.71
86.07
Communication and other
Communication
Other 5
3699
26.16
1082
4106
28.89
12 17
4233
4032
28.68
11 64
3902
27.45
1157
4189
29.43
1245
42.92
29.94
1297
4189
29.04
1285
4033
28.23
1210
4285
4409
Nonmanufacturing
..
..
..
1. Estimates are based on planned capital expenditures reported by business in late July and
August 1982. The planned expenditures for 1982 have been corrected for biases. The adjustment
procedures are described in the October 1980 SURVEY. Before adjustment, plans for 1982 were
$323.42 billion for total nonfarm business, $127.17 billion for manufacturing, and $196.25 billion
for nonmanufacturing.
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.
September
ufacturers in the second quarter was
less than their capital expenditures,
resulting in a decrease in carryover.
Carryover totaled $87.5 billion at the
end of June, $1.9 billion less than at
the end of March.
Capacity utilization
The utilization of manufacturing
capacity was 71 percent in June; this
is 1 percentage point lower than the
rates in March and December, 4
points lower than the recession rates
in March and June 1975, and is the
lowest rate reported since the survey
was initiated in 1965.
The decline in the utilization rate
from March to June reflected sizable
offsetting changes for some industry
groups. Primary metals declined 9
points, to 52 percent. Stone-clay-glass
declined 6 points, to 62 percent, and
nonelectrical machinery declined 3
points, to 82 percent. Chemicals and
paper each declined 2 points, to 70
and 81 percent, respectively. Motor
vehicles increased 6 points, to 67 percent, and petroleum increased 5
points, to 75 percent. Rubber increased 4 points, to 76 percent, and
food-beverage increased 3 points, to 78
percent.
The utilization rate in June for advanced-processed goods industries rose
1 point, to 74 percent; the rate for primary-processed goods declined 4
points, to 66 percent.
SURVEY OF CURRENT BUSINESS
41
The rate for large firms (assets of
$100 million and over) declined 1
point, to 72 percent. Medium-sized
firms (assets of $10 million to $100
million) declined 2 points, to 72 percent, and small firms declined 1 point,
to 69 percent.
Manufacturing companies owning
23% percent of fixed assets reported a
need for more facilities as of the end
of June, 2 percentage points lower
than at the end of March; the decline
was centered in the primary metal
and food-beverage industries. Facilities viewed as adequate declined onehalf of 1 percentage point, to 53% percent, and those viewed as exceeding
needs increased 2% points, to 23 percent.
increases for air transportation and
"communication and other" are more
than offset by declines for railroads,
"other transportation," mining, gas
utilities, and trade and services. In
the fourth quarter, all industry
groups except trade and services contribute to the planned increase.
Planned current-dollar spending by
nonmanufacturing firms for the year
1982, $199.4 billion, is 2.4 percent
larger than in 1981; actual spending
increased 8.3 percent in 1981. The
largest increases this year are
planned by electric utilities, 8% percent, and railroads, 6% percent.
Smaller increases are planned by
"communication and other," air
transportation, and trade and services. Small decreases are planned by
mining, "other transportation," and
gas utilities.
In real terms, nonmanufacturing
industries plan a 3.1-percent decline
in spending for 1982. The largest decline is in mining, 12% percent; smaller declines are planned by "communication and other," transportation,
trade and services, and public utilities.
Investment projects started by
public utilities totaled $6.0 billion in
the second quarter, compared with a
negative $4.3 billion in the first quarter. Carryover of utility projects totaled $107.4 billion at the end of
June, $4.3 billion less than at the end
of March.
Nonmanufacturing Programs
Current-dollar spending by nonmanufacturing industries was at an
annual rate of $199.5 billion in the
second quarter; this rate is about the
same as in the first quarter and followed a 0.8-percent decline from the
fourth quarter to the first. Plans indicate a 1.2-percent decline in the third
quarter and a 2.2-percent increase in
the fourth. In the second quarter, increases in air transportation, electric
utilities, and railroads were offset by
declines in mining, "other transportation/' and "communication and
other." In the third quarter, planned
By RALPH KOZLOW
Capital Expenditures by Majority-owned Foreign Affiliates of
U.S. Companies, 1982 and 1983
MAJORITY-OWNED foreign affiliates of U.S. companies plan to increase capital expenditures less than
one-half of a percent, to $46.6 billion,
in 1983, following a planned 6-percent
increase this year. In 1981, spending
increased 3 percent (table 1 and chart
9).1 In each of the 3 years 1981-83,
spending in real terms would probably show a decline.
The slowdown in 1981-83 reflects
generally sluggish business conditions
abroad and high interest rates. Spending by manufacturing affiliates is expected to be depressed throughout the
period. Spending by petroleum affiliates is expected to be weak except in
1982, when a strong increase is largely for development of alternative
energy sources.
The slowdown follows record increases in 1979 and 1980, when affiliates in manufacturing significantly
expanded capacity in response to
strong demand abroad; affiliates manufacturing transportation equipment
had particularly strong increases. In
1980, petroleum spending also increased strongly, largely as a result of
intensified exploration for, and production of, petroleum following a
near-doubling of crude oil prices in
NOTE.—Patricia E. DiVenuti and Edward L.
Simons assisted in preparing the estimates.
Smith W. Allnutt III designed the computer
programs for data retrieval and analysis.
1. Capital expenditures estimates are for majorityowned nonbank foreign affiliates of nonbank U.S. parents. (An affiliate is majority owned when the combined ownership of all U.S. parents exceeds 50 percent.) Capital expenditures are expenditures that are
made to acquire, add to, or improve property, plant,
and equipment, and that are charged to capital accounts. They are on a gross basis; sales and other dispositions of fixed assets are not netted against them.
Capital expenditures are reported to BEA in current
dollars; they are not adjusted for price changes in host
countries or for changes in the value of foreign currencies, because the data needed for these adjustments
are unavailable.
42
1979 by members of the Organization
of Petroleum Exporting Countries.
In recent surveys, spending estimates have generally been revised
down. The latest estimate for 1982,
based on the BEA survey taken in
June 1982, is much lower than the estimate made 6 months earlier, which
indicated expenditures would increase
11 percent. Although estimates for
every industry were revised down,
most of the revision was in petroleum
and in chemical manufacturing. For
1981, the latest estimate is also lower
than the earlier one; most of the revision was in petroleum.
Manufacturing affiliates plan to increase spending 2 percent, to $19.5
billion, in 1983; no change in spending
is planned this year. Affiliates in
trade plan a 7-percent increase, to
$4.5 billion, following a 2-percent decline. In contrast to these increases,
petroleum affiliates plan a 3-percent
decline, to $18.6 billion, following a
21-percent increase.
By area, affiliates in developed
countries plan a 2-percent spending
increase, to $33.1 billion, in 1983, following a 4-percent increase. In developing countries, a 1-percent decline,
to $12.4 billion, is planned, following
a 12-percent increase. Affiliates in
"international"—those that have operations spanning more than one
country and that are engaged in petroleum shipping, other water transportation, petroleum trading, or operating oil and gas drilling equipment
that is moved from country to country during the year—plan a 16-percent decline, to $1.1 billion, compared
with a 3-percent decline last year.
Petroleum
Petroleum affiliates plan to reduce
spending 3 percent, to $18.6 billion, in
1983, following a planned 21-percent
increase this year. This will be the
CHART 9
Capital Expenditures by
Majority-Owned Foreign Affiliates
of U.S. Companies
Billion $ (Ratio scale)
60
50
BY INDUSTRY
40
30
20
- Canada /
_
**
-
-Other
La i n
Developing/ America
"Countries
\^
Trade
\
Other Industries
»
l
~
- Mining
N\.
\A
J
International
~~*
.3 ~
Finance (Except Banking),
Insurance and Real Estate
I
1977
79
81
83
1977
I
79
I
I
81
I I
83
• Planned
NOTE.-Estimates are for nonbank foreign affiliates of nonbank
U. S. parents.
U.S. Department of Commerce, Bureau of Economic Analysis
82-9-9
September
first decline in petroleum expenditures since 1960. The decline reflects
several factors, including weak worldwide industrial activity, continued
energy conservation and substitution,
and oil refining capacity in excess of
projected needs. Also, some petroleum
companies may be shifting some
spending from abroad to the United
States; the U.S. Government has
sought to encourage domestic spending, partly by granting exploration
and production rights in previously
restricted territories and partly by decontrolling the domestic price of oil,
in order to reduce U.S. dependence on
foreign oil.
The strong spending increase this
year largely reflects increased spending by petroleum affiliates to develop
alternative energy sources. Increases
in Colombia and Australia are largely
for extracting coal; in Germany and
the Netherlands, the increases are
partly for constructing facilities that
convert coal into coke.
SURVEY OF CURRENT BUSINESS
43
Smaller spending increases, or
shifts to spending declines, are expected in every geographic area in which
there is sizable petroleum investment.
In developed countries, affiliates plan
to reduce spending 5 percent, to $11.2
billion, after a 20-percent increase in
1982 (tables 2-4). Canadian affiliates
plan to lower spending slightly, after
a 26-percent increase this year. The
decline is largely attributable to an
affiliate that, in mid-1982, indefinitely
postponed participation in an oil
sands project; partly offsetting are
spending increases on several upstream and downstream projects by
other affiliates.2 Spending by Canadian affiliates in each of the years
1981-83 would have been higher if
U.S. companies had not sold several
large oil and gas properties in 1981.
These sales were partly in response to
anticipated and actual changes in Canadian energy policies. One objective
of these policies is to increase Canadian participation in the petroleum industry. By providing preferential
treatment of locally owned or controlled companies in, for example, the
granting of exploration subsidies and
production rights, these policies have
tended to make petroleum properties
in Canada more valuable to local
than to U.S. (and other non-Canadian)
investors.
In the North Sea area, British affiliates plan to reduce spending 13
percent, to $3.6 billion, after a 2-percent increase. This decline will be the
largest since 1969. It partly reflects
the response of oil companies to the
smaller-than-expected reduction in
the United Kingdom's taxes on North
Sea operations. Norwegian affiliates
plan a 17-percent increase, to $1.7 billion, after a 20-percent increase this
year. Both increases are for continued
2. Spending on another recently postponed oil sands
project is not included in the data, because the company established to carry out the project is not majority
owned by U.S. companies.
Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1977-83
Billions of dollars
Percent change from preceding year
Latest plans
Actual expenditures
1978
Total
1979
1980
9
25
30
-14
51
7
16
14
29
17
-8
7
22
23
18
16
25
38
11
31
26
54
3
1981 '
J
Earlier plans
1982
1981
1983
1982
2
Latest plans *
Actual expenditures
1977
24.1
1978
26.1
1979
32.6
1980
42.4
1981 >
43.7
1982
46.4
1983
46.6
Earlier plans
1981
45.5
2
1982
50.7
3
6
(*)
7
11
89
2
-26
-9
17
-24
.5
.4
.7
1.3
1.3
1.0
.9
1.5
1.1
34
7
21
-3
18
18
8.9
9.5
11.0
14.8
15.8
19.1
18.6
17.5
20.5
27
-2
(*)
2
(*)
10
10.5
12.0
15.4
19.5
19.2
19.1
19.5
19.5
21.4
28
14
37
18
24
49
29
-7
(*)
9
-9
-10
18
12
7
9
37
-1
8
-22
13
1
3
9
10
6
-14
6
-2
5
12
-15
-5
12
4
17
27
54
11
11
-10
1
.8
2.0
.5
3.0
.7
1.6
1.8
.9
1.9
.6
3.6
.9
1.9
2.1
1.2
2.6
.6
4.7
1.1
2.9
2.2
1.5
3.0
.9
5.6
1.4
4.4
2.8
1.4
3.0
.8
5.1
1.2
5.2
2.5
1.5
3.2
1.1
5.1
1.3
4.1
2.8
1.5
3.3
1.2
5.6
1.4
3.5
3.0
1.5
3.1
1.0
4.8
1.3
4.9
3.0
1.7
4.0
1.5
5.3
1.4
4.4
3.0
By industry
Mining
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Trade
Finance (except banking), insurance and real
estate
Other industries
9
37
25
13
-2
7
-3
16
2.1
2.2
3.1
3.8
4.3
4.2
4.5
3.7
4.3
10
-6
49
22
7
28
12
5
-17
-7
2
3
32
7
(*)
(*)
.2
1.9
.2
1.8
.3
2.1
.3
2.7
.4
2.9
.3
2.7
.3
2.8
.4
2.9
.4
2.9
10
25
29
2
4
2
1
11
18.0
19.8
24.8
31.9
31.3
32.6
33.1
32.4
35.8
1
13
20
30
29
27
-2
-4
2
4
7
-1
2
-1
12
10
5.4
11.2
5.4
12.6
6.5
16.4
8.3
20.8
8.1
20.1
8.3
20.8
8.9
20.6
8.5
20.6
9.5
22.7
13
1
34
20
-7
9
28
26
28
27
31
42
27
23
17
33
28
26
-9
-13
15
-6
-8
30
4
(*)
1
4
13
1
(*)
9
8
5
(*)
g
-5
-19
-16
2
-1
22
9
15
7
5
16
16
9.6
1.4
2.0
3.9
2.4
1.5
10.9
1.4
2.6
4.7
2.2
1.7
14.0
1.8
3.4
6.0
2.9
2.4
17.8
2.2
3.9
8.0
3.7
3.0
16.2
1.9
3.4
7.5
3.4
3.9
16.9
1.9
3.4
7.7
3.8
4.0
16.9
2.1
3.7
7.3
3.8
3.6
16.9
1.8
3.3
8.1
3.7
3.7
18.4
2.0
3.5
8.5
4.3
4.3
32
20
15
7
42
40
-11
22
22
10
11
3
-7
34
29
6
.4
1.0
.6
1.2
.6
1.3
.9
1.8
.8
2.2
1.0
2.5
1.1
2.5
.8
2.5
1.1
2.6
Developing countries
Latin America
Other Africa
Middle East
Other Asia and Pacific
16
17
14
-10
56
20
27
12
27
52
38
42
44
10
47
23
24
25
24
33
12
7
19
25
16
-1
6
(*)
27
12
28
27
34
35
46
19
19
13
56
18
4.8
2.2
.7
1.2
.7
5.5
2.5
.8
1.1
1.1
6.6
3.2
.9
.8
1.7
9.0
4.6
1.3
.7
2.5
11.1
5.7
1.6
.5
3.3
12.5
6.1
1.9
.7
3.8
12.4
5.7
1.9
.5
4.3
11.6
5.8
1.7
.5
3.6
13.8
6.9
2.0
.7
4.3
International
-38
51
22
-8
3
16
2
33
1.3
.8
1.2
1.5
1.4
1.3
1.1
1.5
1.0
6
4
30
47
9
1
2.1
16.2
2.2
16.9
2.9
17.0
3.1
16.9
3.1
18.5
3.1
By area
Developed countries
Canada
Europe
European Communities (9) 3
France
United Kingdom
Other
Other
Japan
Australia, New Zealand and South Africa
Addenda: European
Communities (10) 4
OPEC 5
10
2
13
*Less than 0.5 percent (±).
1. Based on the BEA survey taken in June 1982.
2. Based on the BEA survey taken in December 1981.
3. European Communities (9) consists of Belgium, Denmark, France, Germany, Ireland, Italy,
Luxembourg, Netherlands, and the United States Kingdom.
(*)
6
1.7
1.9
1.9
4. European Communities (10) consists of European Communities (9) and Greece.
5. OPEC consists of Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, Venezuela, and the United Arab Emirates.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
SURVEY OF CURRENT BUSINESS
44
September
Table 2.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1981
[Millions of dollars]
Manufacturing
All
industries
All countries
Developed countries
Canada
Europe
European. Communities (10)
Belgium
Denmark
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
Other
....
Japan
Australia, New Zealand, and South Africa
Australia
....
New Zealand
South Africa
Developing countries
Latin America
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Mexico
Panama
Other
.
..
Other Western Hemisphere
Bahamas
...
..
...
Bermuda
Netherlands Antillies
Trinidad and Tobago
Other
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
OPEC
Other
...
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
Chemicals
and
allied
products
Primary
and
fabricated
metals
Electric
Maand
chinery,
elecexcept
tronic
electriequipcal
ment
Transportation
equipment
Other
manufacturing
Trade
Other
industries
43,748
1,290
15,761
19,164
1,407
2,968
804
5,106
1,210
5,177
2,492
4,291
375
2,867
970
9,844
15,425
890
2,304
588
4,638
800
4,229
1,977
3,293
286
1,462
8,145
420
2,700
3,800
200
655
201
649
159
1,211
725
450
95
680
20,084
16,208
596
246
1,922
3,356
48
312
1,114
21
1,115
7,477
5
4
(*)
0
0
1
1
1
0
0
0
6,596
5,264
74
103
(D)
370
6
(D)
147
1
258
4,100
10,273
8,686
357
19
1,316
2,653
23
229
797
19
683
2,591
598
556
8
12
50
95
4
15
48
0
102
223
1,475
1,327
110
1
165
243
14
49
105
5
215
419
351
337
7
1
27
122
(*)
2
19
0
27
132
3,423
3,296
38
(*)
821
959
(*)
(DD)
( )
3
245
735
567
496
36
(D)
55
139
1
54
39
(D)
13
150
2,715
(D)
115
1
53
835
1
(D)
55
0
3
(D)
1,144
(D)
43
(D)
145
261
2
(DD)
(D)
( )
78
(D)
2,319
1,514
148
118
310
250
18
27
139
(*)
115
390
166
84
(*)
(*)
1
2
1
9
(*)
(*)
1
70
724
655
17
6
(D)
80
(*)
(D)
31
(*)
60
325
0
1,331
22
1,207
(D)
28
28
(D)
1
20
1,587
360
35
40
948
143
57
2
2
42
3
0
2
32
2
3
(*)
0
148
2
2
5
105
25
8
1
(*)
14
3
(*)
1
6
2
1
0
(*)
128
3
(*)
2
(DD)
(D)
( )
0
0
70
(DD)
( )
2
(DD)
( )
10
(*)
(*)
(DD)
( )
4
23
(D)
2
(*)
0
0
(D)
(DD)
( )
6
(D)
(DD)
( )
(*)
2
805
80
69
40
252
80
195
14
76
82
(DD)
( )
0
(*)
(*)
(D)
0
70
(D)
(DD)
( )
20
4
35
(*)
(*)
806
0
34
666
(D)
70
(D)
(D)
48
(D)
12
96
9
2
2,245
1,782
88
374
545
520
(*)
25
515
440
21
54
685
512
27
147
(D)
50
(D)
30
104
77
4
23
(DD)
( )
0
12
( DD)
( )
1
19
26
18
2
6
(DD)
(D )
( )
26
96
55
10
31
428
250
35
143
15
15
(*)
(*)
56
45
6
5
11,118
320
5,017
3,739
517
664
216
469
410
948
515
998
89
954
5,680
273
1,158
3,114
411
542
191
422
186
929
433
716
67
352
3,946
635
1,640
287
345
62
455
377
145
1,433
1,198
74
160
233
5
2
D
( )
3
0
(D)
0
(D)
18
3
0
15
991
130
86
34
235
25
345
66
70
40
12
3
25
2,124
434
1,325
12
61
21
9
197
65
964
913
5
45
250
57
108
1
10
3
2
42
27
150
123
2
25
430
80
247
5
32
5
2
58
(*)
109
100
2
8
140
(D)
88
2
3
1
3
7
(")
51
50
0
1
398
142
250
0
(D)
0
(*)
D
(D)
()
24
24
0
0
77
4
60
(*)
1
2
1
9
(*)
105
103
(*)
2
549
(D)
385
(*)
5
0
C)
D
( )
1
380
379
0
(*)
280
(D)
188
4
(D)
9
2
28
(D)
145
135
1
9
470
57
175
43
40
17
(D)
93
(D)
235
212
7
16
29
(*)
(D)
(D)
1
0
(D)
1
(*)
25
3
22
1
99
9
(DD)
( )
6
(*)
(D)
20
1
150
55
37
58
300
48
(D)
20
115
(D)
21
1
0
(*)
0
20
127
8
(*)
D
(D)
( )
7
26
2
(*)
(*)
6
17
11
1
0
(*)
(*)
10
3
1
0
(*)
1
1
1
0
0
(*)
0
1
0
0
0
0
0
0
3
0
0
0
(*)
3
0
0
0
0
0
0
7
0
(*)
0
5
2
10
(*)
(*)
2
5
3
13
2
1
(*)
(DD)
( )
103
35
(DD)
( )
2
(D)
1,613
560
332
151
77
1,053
19
263
770
26
4
4
0
0
23
(D)
1,483
538
318
150
70
945
(*)
245
700
55
4
1
(*)
3
51
1
7
43
21
(*)
0
0
(D)
(*)
0
0
(D)
C)
0
0
(*)
(D)
0
(*)D
24
6
3
1
3
18
5
8
5
4
0
0
0
0
4
2
(*)
1
21
9
8
0
1
12
(D)
2
(D)
350
6
313
32
29
18
11
(*)
5
4
1
(*)
5
4
(*)
(*)
(*)D
( 0)
(*)D
()
(DD)
()
(*)0
(*)
(*)
0
(*)
0
0
0
0
0
(*)
(*)
(*)
21
1
1
19
6
1
1
0
(*)
6
0
4
2
542
26
17
17
76
140
123
25
87
17
13
80
(*)
0
1
(*)
71
(*)
5
1
2
1
111
8
5
2
5
21
(D)
2
13
3
(D)
12
3
0
3
(*)
(*)
5
0
0
(*)
(*)
34
3
4
C)
2
(*)
17
6
2
0
0
212
5
3
2
50
24
49
10
61
(DD)
( )
253
48
69
11
(D)
13
530
83
409
38
3,295
539
17
1,060
457
298
421
116
150
202
36
International
1,351
Memorandum —OPEC 2
2,250
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in June 1982.
Total
Food
and
kindred
products
31,280
3,876
468
1,326
93
1,248
255
370
18
99
..
Petroleum
Mining
Finance
(except
banking),
insurance
and
real
estate
1
1
0
1
0
0
0
0
1
8
1
1
0
0
19
0
0
19
(*)
0
0
0
0
2,026
(D)
0
1,010
D
()
0
71
255
(DD)
( )
(D)
16
20
1,733
1
(*)
13
3
10
(*)
(*)
()
(*)
8
2
0
0
2
6
0
2
4
0
0
0
0
0
(*)
(*)
0
0
87
(D)
50
(D)
3
3
(*)
(*)
60
(D)
34
(D)
19
0
0
D0
2
(D)
0
3
(*)
0
74
7
5
9
(D)
23
1
2
9
D
( )
(*)
171
44
(*)
8
(DD)
( )
22
(D)
25
(D)
2
15
(D)
0
(*)
(*)
(*)
(D)
0
0
521
(D)
(*)
6
(DD)
(D)
( )
(*)
(D)
(*)
6
(D)
49
179
1
(DD)
( 0)
0
0
(*)
0
0
()
(*)
(*)
900
451
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
64
SURVEY OF CURRENT BUSINESS
September
45
Table 3.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 1982 '
[Millions of dollars]
Manufacturing
All
industries
Mining
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Trade
Finance
(except
banking),
insurance
and
real
estate
Other
industries
46,378
957
19,136
19,079
1,499
3,233
1,098
5,074
1,303
4,055
2,815
4,220
310
2,675
32,603
760
11,826
15,026
995
2,485
648
4,596
845
3,278
2,180
3,181
253
1,558
Canada
8,311
265
3,400
3,364
270
555
260
753
175
638
712
420
80
782
Europe
20,833
8
7,558
10,133
608
1,733
356
3,195
567
2,350
1,323
2,272
140
722
16,933
547
288
1,920
3,381
58
236
1,149
25
1,589
7,740
4
1
0
0
1
(*)
1
0
0
0
1
5,969
52
162
(D)
650
15
(D)
121
3
585
4,175
8,632
324
22
1,288
2,458
27
165
839
21
743
2,745
563
22
14
75
92
4
9
37
0
91
220
1,444
128
2
180
212
14
43
105
5
300
455
340
12
1
23
118
(*)
2
34
0
30
121
3,049
35
(*)
708
912
(*)
(DD)
( )
2
221
650
483
34
3
42
133
1
26
(DD)
( )
16
173
(D)
37
2
99
678
1
(D)
27
0
2
(D)
(D)
57
1
161
312
8
42
105
(D)
84
(D)
1,576
150
98
352
214
14
20
152
(*)
130
445
86
(*)
(*)
(*)
1
1
3
(*)
(*)
1
79
666
19
6
(D)
58
O
(D)
37
(*)
130
295
3,901
275
1,546
102
1,226
288
372
11
81
4
0
4
0
0
0
0
0
1,589
33
1,450
12
40
29
16
1
8
1,501
164
26
50
1,008
172
72
2
8
45
3
0
4
30
3
5
(*)
0
289
2
1
5
243
26
10
1
(*)
16
4
(*)
(*)
9
1
1
0
(*)
146
(D)
(*)
2
(DD)
( )
8
0
0
84
4
(DD)
( )
29
9
18
(*)
1
(D)
(D)
4
26
D
(D)
( )
(*)
0
0
(D)
(DD)
(D)
(D)
( )
2
30
(*)
7
695
76
54
38
160
82
213
8
65
55
(*)
(D)
0
(*)
(*)
(D)
0
(*)
56
3
(D)
2
18
5
(D)
(*)
(*)
0
86
755
14
67
2
(D)
68
(D)
D
All countries
Developed countries
European Communities (10)
Belgium
Denmark .
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Norway
Portugal
Spain
Sweden
Switzerland
Turkey
Other
. ...
Japan
987
Australia, New Zealand, and South Africa
Australia
New Zealand
South Africa
Developing countries .
Latin America
South America
Argentina..
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Mexico
Panama
Other
Other Western Hemisphere
Bahamas
Bermuda
Netherlands Antilles
Trinidad and Tobago ...
Other
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
OPEC
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines ..
Singapore
South Korea
Taiwan
Thailand
Other
....
2,471
1,959
79
434
15
137
6
2
103
56
3
45
130
99
6
24
30
15
0
15
( )
43
(D)
27
35
27
2
6
(D)
213
(D)
57
129
84
9
36
351
210
23
119
26
26
(*)
(*)
51
41
2
8
4,053
504
748
451
478
458
778
636
1,040
57
892
3,288
395
592
425
409
196
719
552
739
36
256
2,443
379
1,634
14
70
17
15
259
55
823
769
6
49
268
62
115
3
14
3
2
51
17
119
99
3
18
461
69
277
4
32
5
7
66
(*)
125
119
2
4
369
5
318
4
D
( )
1
2
4
(D)
56
55
0
1
390
(D)
282
0
(*)
0
(*)D
19
19
0
0
81
5
63
(*)
3
4
2
4
(*)
114
109
(*)
5
542
(D)
355
(*)
(D)
0
(*)
D
( )
1
177
177
0
(*)
333
48
224
3
(D)
5
2
37
(D)
213
191
1
20
457
46
150
(D)
34
14
(D)
128
5
272
254
7
11
13
(*)
10
(*)
1
0
2
(*)
(*)
14
2
12
(*)
66
(DD)
(D)
( )
5
(*)
1
11
(*)
114
79
10
26
252
8
(DD)
( )
(D)
15
22
2
(*)
(*)
6
14
8
1
0
(*)
(*)
7
6
1
0
(*)
1
4
(*)
0
0
(*)
0
(*)
0
0
0
0
0
0
2
0
0
0
(*)
1
0
0
0
0
0
0
6
0
(*)
0
4
1
10
(*)
1
2
3
4
9
2
1
(*)
1
5
75
33
(D)
1
(D)
31
1,750
597
425
115
57
1,153
(*)
318
835
87
29
(D)
(*)
(D)
58
1
13
43
20
(*)
0
0
15
1
1
0
(*)
14
0
(DD)
( )
(D)
(*)
0
0
(*)
(*)
0
(D)
(*)
0
0
(*)
(D)
0
8
(D)
0
0
(DD)
( )
D0
( 3)
26
9
6
(*)
3
17
2
9
6
3
0
0
0
0
3
2
(*)
1
29
(DD)
( )
0
(D)
(D)
10
5
(D)
1
(*)
1
0
76
37
35
4
2
1
(*)
(*)
170
(D)
131
(D)
19
0
(D)
(')
0
76
11
5
15
(D)
8
(D)
4
(D)
4
1
200
49
(*)
8
(D)
(D)
24
(D)
(D)
13
2
16
2
0
(*)
(D)
(DD)
( )
0
0
438
(D)
(*)
5
(D)
(DD)
( )
(*)
(*)
1
6
(D)
(D)
195
1
487
450
(*)
37
781
695
27
59
12,470
198
6,230
6,078
149
1,610
4,428
666
1,931
166
632
54
429
442
106
1,265
1,111
36
118
124
(DD)
( )
69
2
0
(D)
0
1
8
1
0
7
1,324
225
107
18
520
23
343
44
43
33
6
2
25
385
46
18
(D)
(D)
84
17
2
0
(*)
0
15
1,922
654
474
116
64
1,268
16
347
906
27
(DD)
( )
0
0
(D)
2
1
(D)
775
537
28
210
(*)
20
1
1
18
664
90
552
21
1
0
1
0
384
(D)
372
(D)
32
18
13
(*)
4
4
1
(*)
3
3
(*)
(*)
3,806
495
31
1,442
634
232
386
190
155
201
40
21
0
0
20
(*)
0
0
0
0
0
2,487
(D)
0
1,380
D
( )
59
157
(D)
(D)
171
18
646
24
31
29
96
142
179
41
73
16
15
84
1
0
1
1
73
(*)
3
1
3
3
137
4
(D)
4
6
25
(D)
5
4
6
(D)
22
2,320
332
57
(D)
International
1,305
Memorandum — OPEC 2
2,929
'Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. Based on the BEA survey taken in June 1982.
(*)
1
(*)D
( 0)
(*)D
()
(DD)
()
(*)0
(D3)
()
(*)
(*)
0
0
0
0
0
15
3
12
(*)
(*)D
()
(DD)
( 0)
0
0
5
(*)
(*)
(D)
0
0
(*)
(*)
54
1
5
(*)
3
(*)
35
7
4
0
0
248
5
(D)
4
60
33
54
23
50
4
(D)
10
(D)
12
(DD)
()
(D0)
0
(*)
0
0
(*)
(DD)
( 0)
0
(D)
0
0
D0
( 2)
(*)
(*)
1,080
225
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
58
46
SURVEY OF CURRENT BUSINESS
September
Table 4.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies in 19831
[Millions of dollars]
Manufacturing
All
industries
Mining
Petroleum
Total
Food
and
kindred
products
Chemicals
and
allied
products
Primary
and
fabricated
metals
Machinery,
except
electrical
Electric
and
TransOther
portation
elecmanutronic
equipfacturing
equipment
ment
Trade
Finance
(except
banking),
insurance
and
real
estate
Other
industries
46,570
871
18,598
19,499
1,521
3,323
1,196
5,592
1,381
3,505
2,981
4,527
317
2,758
33,108
676
11,241
15,816
1,056
2,605
685
5,106
967
2,905
2,492
3,476
256
1,643
Canada
8,906
178
3,342
3,939
335
659
278
817
205
665
980
466
82
900
Europe
20,568
8
7,024
10,209
581
1,716
369
3,536
660
1,971
1,375
2,489
147
692
16,980
599
260
2,099
3,655
48
208
1,225
25
1,529
7,332
4
1
0
0
1
(*)
1
0
0
0
9,375
374
24
1,413
2,778
22
155
927
21
787
2,873
531
14
15
65
70
4
6
52
0
82
224
1,542
119
2
220
222
11
48
95
6
365
453
347
11
1
25
103
(*)
3
32
0
34
138
3,410
(D)
(*)
741
1,109
(*)
29
(DD)
( )
235
695
563
35
3
57
168
1
27
47
1
15
210
1,678
(D)
(*)
125
820
1
3
33
1
5,186
45
125
(D)
565
12
(D)
103
3
540
3,624
(D)
1,304
71
2
180
286
5
39
D
(D)
( )
55
(D)
1,706
163
105
400
240
14
25
150
(*)
135
475
81
(*)
(*)
(*)
4
1
3
(*)
(*)
2
71
628
16
6
(D)
67
(*)
(D)
45
(*)
65
288
3,589
191
1,817
79
741
249
410
14
88
4
0
3
0
0
0
0
(*)
0
1,838
25
1,700
15
53
25
12
2
6
834
72
33
30
471
148
73
3
3
49
(D)
0
3
31
D
( )
5
(*)
0
175
6
2
4
125
22
14
3
(*)
23
4
(*)
(*)
12
2
4
0
(*)
125
4
(*)
3
(D)
(°)
9
0
0
98
5
(°)
8
37
(D)
12
(*)
293
(D)
(*)
9
(D)
2
(*)
0
0
71
9
(°)
3
(D)
4
30
(')
2
783
90
60
31
190
70
255
7
79
66
(*)
(°)
0
(*)
(*)
(°)
0
(*)
64
4
(D)
3
26
6
(°)
(*)
(*)
All countries
Developed countries
European Communities (10)
Belgium
Denmark
France
Germany
Greece ..
...
Ireland
Italy
Luxembourg
Netherlands
United Kingdom
Other Europe
Austria
Norway .
Portugal
Spain
Sweden
Switzerland
Turkey
Other
.
.
<D
J
Japan
1,092
0
106
882
12
75
3
(D)
69
(D)
Australia, New Zealand, and South Africa
2,541
490
770
786
129
154
36
(D)
32
D
2,025
85
431
457
(*)
33
703
(°)
(D)
543
32
211
72
4
53
123
7
24
13
0
22
40
(D)
17
23
3
7
12,366
195
6,485
3,683
465
718
511
486
5,697
140
1,546
3,030
365
605
488
430
4,223
483
1,870
155
676
52
420
442
126
1,093
965
36
92
107
5
(D)
57
2
0
(D)
0
(D)
8
1
0
7
1,267
115
95
22
560
23
340
47
65
35
7
2
25
2,309
318
1,574
16
72
15
10
250
54
704
668
5
30
239
62
79
3
17
2
2
65
9
123
108
2
13
454
46
289
7
34
6
3
69
(*)
143
135
2
6
439
12
370
2
(°)
1
1
12
(D)
48
47
0
1
381
60
18
30
199
74
25
(D)
0
(*)
D0
245
8
7
26
190
14
17
3
(*)
(*)
8
3
0
(*)
2
4
1
0
0
10
3
1
0
(*)
(*)
2
1,918
803
508
161
134
1,114
19
311
785
25
(DD)
( )
0
D0
1,759
753
465
160
128
1,006
(*)
288
718
77
22
20
(*)
2
55
1
8
46
25
(*)
0
0
(*)
25
1
1
23
8
2
2
0
(*)
6
0
4
2
483
92
367
25
1
0
1
0
282
2
270
10
31
17
14
1
4
3
1
(*)
3
3
(*)
1
4,268
688
27
1,690
823
214
213
83
129
306
95
30
0
0
29
(')
0
0
0
0
1
0
2,899
(D)
0
1,630
D
( )
54
87
1
3
(D)
73
545
43
27
16
(D)
122
88
(D)
90
(D)
15
70
1
0
1
(*)
62
(*)
1
1
2
2
102
20
6
4
7
29
12
8
4
4
8
303
69
82
Australia
New Zealand
South Africa.
.
Developing countries
Latin America
South America
Argentina
Brazil
Chile
Colombia
Ecuador
Peru
Venezuela
Other
Central America
Mexico
Panama ....
Other
Other Western Hemisphere
Bahamas
Bermuda ...
Netherlands Antilles
Trinidad and Tobago
Other
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
OPEC
Other
Other Asia and Pacific
Hong Kong
India
Indonesia ....
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
. . . .
International
1,096
Memorandum — OPEC 2
3,117
'Less than $500,000.
(D) Suppressed to avoid disclosure of data of individual companiei
1. Based on the BEA survey taken in June 1982.
()
()
1
1
(D)
(*)0
1
(D)
1
0
0
1
(D0)
(*)D
()
(DD)
()
(*)D
()
(D)
18
97
6
1
( )
118
424
21
50
186
(D)
61
85
5
28
260
25
139
21
(*)
(*)
42
(DD)
( )
415
599
489
1,051
61
890
168
543
431
729
40
212
414
(D)
322
0
(*)
0
(*)
D
()
(*)
15
15
0
0
79
8
60
(*)
1
2
1
9
(*)
87
84
(*)
3
390
(D)
248
(*)
(D)
0
(*)
D
( )
1
153
153
0
(*)
292
25
207
3
(D)
5
3
36
(D)
135
126
1
8
457
37
153
(D)
33
14
32
138
(D)
263
246
10
7
19
(*)
(D)
(*)
0
(D)
(*)
(*)
12
(*)
11
(*)
64
7
26
(D)
8
(*)
1
7
(D)
71
42
7
22
0
0
0
0
0
0
2
0
0
0
(*)
1
0
0
0
0
0
0
4
0
(*)
0
2
2
9
(*)
(*)
2
3
4
9
2
(D)
(*)
1
(D)
77
(D)
(D)
2
2
27
(*)
(D)
(*)
0
0
(DD)
(D)
( )
0
0
(*)
0
0
(DD)
(D)
()
(*)
8
(D)
(°)
0
1
(D)
0
2
(D)
3
14
2
10
2
3
0
0
0
0
3
2
(*)
1
(DD)
(D)
( )
0
1
(D)
12
5
(D)
0
0
0
0
(*)
(*)
(*)
0
82
41
34
7
1
1
(*)
(*)
86
32
47
7
15
0
(D)
(*)
0
50
12
(D)
5
7
7
1
1
D
( )
3
3
(D)
52
(*)
10
26
(D)
15
(D)
36
(D)
2
17
(D)
0
(*)
(*)
(*)
(D)
0
0
(D)
(D)
(*)
5
2
(DD)
( )
(*)
(')
1
6
(D)
49
207
1
(*)
0
(*)0
17
3
13
(*)
(*)D
( 0)
(*)D
()
(DD)
( 0)
(D)
3
0
4
(*)
(*)
(D)
0
0
(*)
(*)
40
1
6
C)
4
(*)
D
(D)
( )
3
0
0
234
6
(D)
2
65
21
38
23
65
(D)
1
17
(D)
12
0
0
0
0
(D0)
0
D0
( 2)
(*)
(*)
871
31
2,510
225
2. See footnote 5, table 1.
NOTE.—Estimates are for nonbank foreign affiliates of nonbank U.S. parents.
65
September
development of offshore oil and gas
fields.
In several other areas of Europe,
where affiliates are engaged primarily in refining and distribution, reductions in spending are planned in 1983;
the reductions follow several years of
strong increases. Following a more
than doubling of expenditures this
year, expenditures by Netherlands affiliates are to decline 8 percent. The
decline largely reflects completion of
several projects in 1982, including development of a new gasfield and construction of a facility that converts
coal into coke. Following a planned
76-percent increase this year, German
affiliates plan to reduce spending 13
percent. This year's increase is primarily for upgrading and expanding
several refineries; these projects are
expected to be completed in 1982.
After 3 years of strong increases,
Australian affiliates plan virtually no
change in spending next year. The increase in 1982 is for the development
of a new coal operation by a petroleum affiliate and significantly expanded exploratory drilling.
In developing countries, affiliates
plan a 4-percent increase, to $6.5 billion, after a 24-percent increase this
year. The increase next year is centered in "other Asia and Pacific"—
particularly in Indonesia and Malaysia, where offshore oil and gas fields
are being developed.
In "other Africa," spending is expected to remain at this year's level
of $1.8 billion, as increases in some
areas offset decreases in others. A 26percent increase, to $0.8 billion, is expected next year in Saharan Africa,
primarily in Libya and Tunisia. In
Libya, the increase is mainly for exploration and development; expenditures declined in 1982, largely because several affiliates ended operations there in response to growing
political tensions between Libya and
the United States. In Sub-Saharan
Africa, spending is to decline 13 percent, to $1.0 billion; the decline is centered in Cameroon, where development of a newly discovered oilfield
will be completed this year.
Affiliates in "international" plan to
cut spending 19 percent, to $0.9 billion, in 1983, following a 20-percent
increase. The decline reflects reduced
spending on tankers, which, in turn,
reflects the slowing of petroleum shipments in response to sluggishness in
worldwide business activity.
SURVEY OF CURRENT BUSINESS
Manufacturing
Manufacturing affiliates plan to increase spending 2 percent, to $19.5
billion, following no change this year.
Small or moderate increases are
planned in all industries within manufacturing
except
transportation
equipment, in which spending is to
decline.
Much of next year's increase is accounted for by affiliates in nonlectrical machinery; their expenditures are
expected to increase 10 percent, to
$5.6 billion, following a slight decline
this year. Nearly all of the increase is
by affiliates manufacturing computers.
Affiliates in primary and fabricated
metals plan a 9-percent spending increase, to $1.2 billion, following a 37percent increase this year; an expansion project undertaken by a bauxite
mining and aluminum manufacturing
affiliate in Brazil largely accounts for
increases in both years. Affiliates in
electric and electronic equipment and
"other manufacturing" each plan 6percent increases, compared with increases of 8 and 13 percent, respectively, this year. Affiliates in chemicals plan a 3-percent increase, to $3.3
billion, following a 9-percent increase.
In food products, affiliates plan a
small increase, to $1.5 billion, following a 7-percent increase.
In contrast, spending by affiliates
in transportation equipment is expected to decline 14 percent, to $3.5 billion, in 1983; a 22-percent decline in
spending is planned this year. Both
declines partly reflect completion of
new facilities in the preceding year
and deferral of nonessential spending
due to the current weak worldwide
demand for autos.
In developed countries, manufacturing affiliates plan a 5-percent increase, to $15.8 billion, following a 3percent decline in 1982. Canadian affiliates plan to increase spending 17
percent, to $3.9 billion, compared with
a 12-percent spending decline this
year. Although increases are planned
in every industry within manufacturing, the largest is in "other manufacturing"; it is mainly for plant expansion by a paper manufacturer.
In Europe, German affiliates plan a
13-percent increase in spending, to
$2.8 billion, following a 7-percent decline this year. Most of the increase is
in nonelectrical machinery, and is
largely for increased capitalization of
47
computers for rental. French affiliates
plan a 10-percent increase, to $1.4 billion; a small decline in food products
is more than offset by increases in
every other industry within manufacturing. The 5-percent increase by
British affiliates, to $2.9 billion, is
centered in "other manufacturing"; it
reflects increased leasing of copiers.
In "other Europe," affiliates plan to
cut spending 44 percent, to $0.8 billion, following a 5-percent decline this
year. Over three-fourths of next
year's cutback is in transportation
equipment, primarily in Spain and
Austria; it reflects the completion of
new facilities in 1982.
In developing countries, affiliates
plan to cut spending 9 percent, to $3.7
billion, following an 8-percent increase this year. The largest declines,
which are in Mexico and Singapore,
result from completion of expansion
projects in 1982. In Mexico, the decline is largely accounted for by tire
and photographic equipment manufacturers; in Singapore, it is largely
accounted for by a petrochemical affiliate.
Other industries
Mining affiliates plan to cut spending 9 percent, to $0.9 billion, following
a 26-percent decline this year. The cut
is centered in Canada, where development of several large potash mines is
expected to be completed by mid-1983.
Trade affiliates plan a 7-percent
rise, to $4.5 billion, following a 2-percent cut. The rise is mainly in several
European countries, Canada, and Australia, and is largely accounted for by
affiliates that market computers.
Spending by affiliates in finance
(except banking), insurance, and real
estate is to remain at $0.3 billion next
year; this reflects small offsetting increases and decreases among several
geographic areas.
Affiliates in "other industries"—-agriculture, construction, transportation, communication, public utilities,
and other services—plan a 3-percent
increase, to $2.8 billion, after a 7-percent spending decline this year. The
largest increases are in Hong Kong,
largely for construction of an electric
power plant, and Canada, largely for
modernization of a telecommunications system. Partly offsetting is a decline in Saudi Arabia, where a new
affiliate performing city sanitation
services plans to make sizable expenditures in 1982, but not in 1983.
By RUSSELL C. KRUEGER
U,S, International Transactions, Second Quarter 1982
1 HE U.S. current-account surplus
increased $1.0 billion to $2.1 billion in
the second quarter, largely due to a
rise in net receipts of income on portfolio investment. Continued increases
in U.S. bank claims on foreigners, together with high U.S. interest rates,
resulted in a sharp increase in portfolio income receipts; income payments
showed a smaller increase.
The merchandise trade deficit decreased $0.1 billion to $5.8 billion.
In the private capital accounts,
both U.S. bank claims and liabilities
remained at high levels, reflecting activities of International Banking
Facilities (IBF's) and the ongoing
transfer of U.S. banks' international
lending and borrowing from offshore
branches to their IBF's. Among other
private capital accounts, U.S. corporations used their finance affiliates in
the Netherlands Antilles and elsewhere to raise substantial funds in
the Eurobond market, resulting in
large net intercompany account inflows for U.S. direct investment
abroad. Inflows for foreign direct investment in the United States in-
The U.S. dollar in exchange markets
The dollar appreciated 4 percent in
the second quarter on a trade-weighted basis against the currencies of 10
industrial and 22 OECD countries
(chart 10). The appreciation reflected
continued high interest rates in the
United States and political disturbances abroad, especially in the
Middle East and in Latin America.
Fluctuations in the dollar's exchange value during the quarter generally paralleled those of U.S. shortterm interest rates. Following a
strong rise in interest rates and the
dollar from January through April,
interest rates and the dollar dipped in
May, with the dollar down as much as
5 percent against some major currencies. Interest rates rose again in late
May and June because of renewed
concerns about the size of Government borrowing, possible increases in
the money supply because of July tax
cuts, and strong commercial borrowing. Concurrently, the dollar appreciated nearly 9 percent. At the end of
the quarter, the dollar was at postWorld War II highs against the Ital-
creased strongly. Net U.S. purchases
of foreign securities changed little, as
high interest rates discouraged new
foreign bond issues in the United
States. Net foreign purchases of U.S.
securities increased, largely due to
purchases of outstanding high-yield
U.S. corporate bonds.
In the official capital accounts, foreign official assets in the United
States shifted to an increase, as industrial countries' dollar sales slowed,
and dollar holdings of a few OPEC
members and other developing countries increased.
The statistical discrepancy (errors
and omissions in reported transactions) was an inflow of $1.4 billion.
(The first-quarter discrepancy has
been changed to an inflow of $5.0 billion, compared with a preliminary estimate of $11.2 billion, largely because
previously unavailable data indicated
a large reduction in claims on unaffiliated foreigners by U.S. nonbanking
concerns, table 1-2, lines 52 and 53.
This account consists largely of deposits and commercial credits.)
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
19 82
1981
Change:
1982 I-II
I
II
III
IV
Ir
II p
93,280
60683
32,597
94389
60284
34,105
92,965
57694
35,271
92259
57 593
34,666
90206
55780
34,426
91 286
55094
36,192
1080
91480
-66,831
24649
90406
-65,539
24867
91316
-66778
24538
87070
-61 653
25417
87492
-60878
26614
422
775
1 197
-986
524
-1,250
558
-1,308
562
-1,473
575
-1,070
662
403
87
17,257
-47677
34615
1 132
1 559
31924
3414
1
2
3
342 102
224 237
117,865
372 892
236 254
136,638
4
5
6
333 800
-249,575
-84225
361 813
-264,143
97670
7
8
-4,681
-2 101
-4,504
2 104
U.S assets abroad, net (increase/capital outflow ( — )) (37)
U S official reserve assets net (38)
U S Government assets other than official reserve assets net (43)
U S private assets net (47)
. . . .
9
10
U
12
-86,026
-8 155
5126
-72,746
- 109,294
5175
5137
-98982
-22,796
-4529
1375
- 16,892
-21,566
905
4
1518
19 143
1257
15996
46952
31201
1 089
?
904
29208
Foreign assets in the United States, net (increase/capital inflow (+)) (56)
Foreign official assets net (57)
Other foreign assets net (64)
Allocations of special drawing rights (74)
Statistical discrepancy (75).
13
14
15
16
17
54,484
15,442
39042
1 152
28,870
77,921
4,785
73 136
1093
25,809
8,470
5,361
3 109
1093
9,988
13,464
-2861
16324
16,880
5835
22715
39107
8119
30988
25080
3122
28202
31 182
1935
29248
6 102
5057
1 046
-374
9497
5032
1370
3662
Exports of goods and services (1)
Merchandise excluding military (2)
Other goods and services (3-15)
Imports of goods and services (17)
Merchandise, excluding military (18)
Other goods and services (19-31)
. . .
.
.
U.S. Government grants (excluding military grants of goods and services) (34)
Remittances pensions and other transfers (35 36)
r
p
Revised.
Preliminary.
48
88613
-64,995
- 23 618
-960
-462
6,703
262
987
686
1766
43
655
2716
49
SURVEY OF CURRENT BUSINESS
September
ian lira, the French and Belgian
francs, and the Canadian dollar.
The strength of the dollar may
have contributed to strains among
currencies within the European Monetary System (EMS), but inflation differentials between member countries
and divergent fiscal policies were
probably more important. The EMS
realigned its central rates in midJune, devaluing the French franc and
Italian lira and revaluing the German
mark and Dutch guilder. The United
States intervened on a small scale to
support the realignment. The Canadian dollar was under selling pressure
throughout the quarter despite a significant increase in Canadian interest
rates and heavy official intervention
by Canadian authorities. Heavy selling pressure on the Mexican peso reflected growing market sentiment of
more troubles ahead for the peso.
Merchandise trade
The merchandise trade deficit decreased in the second quarter, to $5.8
billion from $5.9 billion in the first.
Petroleum imports decreased $2.2 billion, more than offsetting a $1.5 billion increase in nonpetroleum imports. Exports decreased $0.7 billion,
as nonagricultural exports declined
for the fourth consecutive quarter.
Imports decreased $0.8 billion, or 1
percent, to $60.9 billion. The decrease
was more than accounted for by lower
prices; volume increased 3 percent.
Petroleum and products imports decreased $2.2 billion, or 14 percent, to
$13.4 billion. The average price per
barrel declined 5 percent to $30.53
from $32.17, continuing a year-long
downtrend. The average number of
barrels imported daily declined to
4.82 million from 5.33 million, the
lowest level since the second quarter
of 1972. The drop in imports was reflected in a large decrease in inventories.
Nonpetroleum imports increased
$1.5 billion, or 3 percent, to $47.3 billion; volume increased 4 percent.
Automotive imports increased $1.3
billion, or 17 percent, to a record $8.9
billion. Volume increased 24 percent
to a level slightly higher than the
previous peak in the fourth quarter of
1978. The increase was primarily due
to a $1.1 billion, or 41 percent, increase to $3.8 billion in imports from
Canada. The increase in parts imports
followed the opening in Canada of a
major facility to produce engines for
U.S. assembly plants. This arrangement departs from the traditional
pattern of exporting parts to Canada
for assembly into complete automobiles for subsequent shipment to
the United States. Automotive imports from other areas rose slightly,
CHART 10
Indexes of Foreign Currency Price of the U.S. Dollar (1977 = 100)
120 —
— 120
110 —
-110
100 -
- 100
80
80
1977
1978
1979
1980
1981
1982
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. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
SURVEY OF CURRENT BUSINESS
50
September
Table B.—Selected Transactions with Official Agencies
[Millions of dollars]
19 82
1981
1980
Line
II
3
4
15,442
914
12,769
1,759
4,785
-12216
13,314
3,687
5,361
285
5,364
-288
5
8 155
— 5175
-4,529
6
6a
6b
3 184
1,773
-4,957
7
7a
7b
-242
1
2
Changes in foreign official assets in the U.S., net (decrease -) (line 57, table 1)
Members of OPEC 2
Other countries
I
Changes in U S official reserve assets (increase — ) (line 38 table 1)
-2,861
-6,682
2,786
1,035
Ir
IV
III
Change:
1982 I-II
II"
-5,835
-8,296
2,935
-474
8,119
2,477
2,230
3,412
-3,122
-6,762
4,988
- 1,348
1,935
-2,046
3,072
909
5,057
4,716
1,916
2,257
_4
262
— 1,089
-1,132
-43
200
800
600
200
800
600
-905
Activity under U.S.3 official reciprocal currency arrangements with foreign monetary authorities:
Drawings
Repayments
Foreign drawings or repayments ( ) net
Drawings
••••
p ym
242
200
200
200
200
-200
200
r
p
Revised.
Preliminary.
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.
also reaching a record value. Japanese imports increased.
Nonpetroleum industrial supplies
and materials imports decreased $0.8
billion to $13.4 billion. The decrease
was concentrated in iron and steel
products and in steelmaking materials, down $0.9 billion in total. Iron
and steel import volume has declined
moderately in each of the past three
quarters due to the recession, but the
import share of total supply has remained close to historical highs of
about 23 percent because of a sharp
drop in domestic shipments (chart 11).
Imports may also have been discouraged when the domestic steel industry
filed a series of antidumping complaints in the first quarter that
charged that imports were being sold
at less than fair value because of foreign subsidies. An International
Trade Commission ruling in June
found violations by a number of companies in Europe, South Africa, and
Brazil and required that importers
post cash bonds equivalent to the estimated underpricing. Penalties averaged 20-25 percent of f.o.b. value and
ranged up to 40 percent; about 20 percent of steel imports was involved.
Among other imports, foods, feeds,
and beverages increased $0.6 billion
to $4.3 billion. Increases in this category were widespread; the exception
was sugar, which fell $0.1 billion,
largely because of the imposition of
import quotas in mid-May. Capital
goods increased $0.3 billion to $9.1 billion; electrical machinery and business machines each increased over
$0.1 billion. Consumer goods decreased $0.6 billion to $9.5 billion, due
to a decline in durables.
With the exception of capital goods,
import prices, as measured by the
Census Bureau's unit value indexes,
declined moderately for all major
commodity groups, primarily reflecting appreciation of the dollar.
Exports decreased $0.7 billion, or 1
percent, to $55.1 billion; volume increased 1 percent. Agricultural exports increased $0.2 billion to $10.7
billion. Increased exports of soybeans
and feed grains offset lower wheat
shipments to Eastern Europe. Prices
of most major commodity groups declined, but more slowly than in the
first quarter.
Nonagricultural exports decreased
$0.8 billion, or 2 percent, to $44.4 billion, reflecting price declines in all
major categories; volume was unchanged. Nonagricultural industrial
supplies and materials decreased $0.9
billion, or 6 percent, to $14.5 billion.
Petroleum exports, which had more
than doubled in value following the
Table C.—Indexes of Foreign Currency Price of the U.S. Dollar
[1977 = 100]
1981
Trade-weighted
average against 22 OECD currencies1
Trade-weighted average against 10 currencies2
Selected currencies:'
Canada
United Kingdom ....
European Monetary System currencies:
Belgium...
France
Germany
Italy...
Netherlands
Switzerland
Japan
1981
1982
I
II
III
IV
106.4
99.7
111.9
106.5
107.7
101.9
114.8
106.4
118.8
110.3
113.8
106.3
111.3
108.7
1129
840
114.1
949
112.2
926
113.9
944
1172
980
114.0
930
1039
1102
98.0
1282
103 1
84.8
818
111.0
1179
104.6
1373
1099
87.2
86.2
105.4
1150
96.7
1352
1005
76.1
83.5
115.8
1219
101.0
143.1
104.9
78.0
86.9
125.7
1277
102.4
1488
1074
83.1
908
111.5
1178
105.0
1372
1105
87.3
86.4
II
July
Aug.
1982
Oct.
Nov.
Dec.
Jan.
Feb.
110.6
104.5
110.2
102.9
105.4
101.1
107.6
101.8
1106
103.5
1157
106.8
1180
108.8
1154
110.4
1173
107.4
1236
113.2
115.2
958
113.1
961
1133
947
1118
916
1116
916
1123
924
1143
944
1149
966
1153
984
116 2
963
120 1
992
1140
1216
107.6
1406
113 1
90.3
86.8
107.4
1144
101.1
134 1
1062
84.1
854
1051
1145
970
1349
1014
784
861
1044
1143
959
1345
995
74.3
830
1068
1162
97 1
1361
1007
756
814
1089
1185
987
1395
1024
768
836
1148
1223
1018
1430
1056
787
875
1238
1249
1024
1468
1066
786
896
1264
127 0
103 1
1487
108 3
817
907
121 g
122 5
995
144 9
1047
812
88 1
1289
1338
104 5
1527
1093
865
934
Sept.
March
April
May
June
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. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, United Kingdom. Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
3. Data: Federal Reserve Board. Monthly average rates. Indexes rebased by BEA.
September
removal of export controls in October,
fell $0.3 billion, or 19 percent, to $1.5
billion; metallurgical coal exports fell
$0.4 billion, or 25 percent, reflecting a
general glut in the market because of
the decline in steel production. Capital equipment exports were unchanged but included substantial offsetting changes in components. Automotive exports increased slightly to
$4.2 billion; exports to Canada continued to recover somewhat after the
weak fourth quarter, and those to the
rest of the world slowed. Consumer
goods increased $0.2 billion to $3.8 billion, primarily in nondurables.
Over the past six quarters, the merchandise trade balance has deteriorated steadily with four areas: Canada,
Latin America and Other Western
Hemisphere, Western Europe, and
Japan (table D, table 3B). Nonagricultural exports to Canada, to the rest of
the Western Hemisphere, and to
Western Europe declined because of
recession abroad and the appreciation
of the dollar; agricultural exports to
Canada, the rest of the Western
Hemisphere, and Japan also weakened steadily. Nonpetroleum imports
from all four areas increased strongly
in the last half of 1981, but leveled off
or decreased in the first half of this
year. In contrast, the balance with
Eastern Europe has moved with
changes in agricultural exports,
which declined in the last half of 1981
and recovered strongly in the first
half of 1982. The sharp improvement
in the balance with all other areas
was concentrated with OPEC members, almost entirely due to the large
decline in petroleum imports and a
slight increase in exports.
SURVEY OF CURRENT BUSINESS
Receipts of income on other private
investment increased strongly, up
$1.7 billion to $15.8 billion, reflecting
high U.S. interest rates and large increases in U.S. bank claims on foreigners over the past three quarters.
Payments also showed a strong increase, up $1.0 billion to $9.2 billion.
U.S. Government income receipts and
payments each declined $0.1 billion,
to $1.0 billion and $4.4 billion, respectively.
Net travel receipts shifted to a $0.5
billion deficit from near balance in
the first quarter. Receipts were $2.7
billion, down from $3.2 billion, due to
a decline in travel from Mexico after
the February devaluation. Expenditures were unchanged.
Passenger fare receipts were unCHART 11 changed at $0.8 billion; payments declined $0.1 billion to $1.2 billion,
partly due to a drop in the number of
passengers on foreign carriers traveling to the United Kingdom and Latin
America.
Other transportation receipts were
unchanged at $3.0 billion; payments
increased $0.1 billion to $2.7 billion.
Transfers under U.S. military
agency sales contracts were $3.4 billion, up $0.4 billion, mostly due to deliveries of armored vehicles to the
Middle East and increased construction receipts. Shipments of aircraft
and ships were reduced. Direct defense expenditures abroad were $3.0
billion, up $0.2 billion, largely due to
increased payments to NATO and foreign personnel expenditures. Unilateral transfers decreased $0.3 billion to
$1.7 billion, as U.S. Government
grants fell from a high first-quarter
level.
Billion $
fleeted stagnant demand and price
weakness. By area, income was higher
in Latin America, following capital
losses in Mexico in the first quarter
related to the devaluation of the peso,
and in Canada, probably because of
increased production of automobiles
and parts. Income elsewhere was generally weaker, especially in the developed countries. Despite lower earnings and negative reinvested earnings, petroleum affiliates in Western
Europe paid sharply higher dividends.
Payments of income on foreign
direct investment in the United
States increased $0.1 billion to $1.5
billion. Income increased for petroleum affiliates and finance and trade
affiliates.
Iron and Steel: Imports and
Domestic Shipments
Million Tons
25
20
15
10
Percent
30]
Service transactions
Net service receipts increased $0.6
billion to $9.6 billion in the second
quarter. Receipts increased $1.8 billion to $36.2 billion; payments increased $1.2 billion to $26.6 billion.
Receipts of income on U.S. direct
investment abroad increased $0.2 billion to $5.9 billion, as a small pickup
in income was partly offset by increased capital losses, probably currency translation losses due to strong
appreciation of the dollar. By industry, income of nonpetroleum affiliates
increased, especially in manufacturing; income of petroleum affiliates re-
51
Imports as a Percentage of
Apparent Supply'
(toft scale)
20
10
Import Value
(right Scale)
j
/
i
1980
t
i
I
I
1981
1982
NOTE.—Shaded areas represent recessions.
1. Imports as a percentage of domestic shipments plus imports
less exports.
Data: Domestic shipments, import tonage, and apparent supply, American
Iron and Steel Institute; import value, BEA.
U.S. Department of Commerce, Bureau of Economic Analysis
82-9-11
U.S. assets abroad
U.S. official reserve assets increased
$1.1 billion, about the same as in the
first quarter. Acquisitions of special
drawing rights (SDR's) and the increase in the U.S. reserve position
with the International Monetary
Fund (IMF) together accounted for
$0.9 billion of the increase. Both reflected continued heavy use of the
dollar in IMF transactions. Transactions in foreign currencies included
an official swap acquisition of $0.6 billion in Mexican pesos, which was
repaid during the quarter; another
$0.2 billion swap acquisition of pesos,
SURVEY OF CURRENT BUSINESS
52
which remained outstanding; and a
$0.4 billion equivalent German mark
note redemption.
U.S. claims on foreigners reported
by U.S. banks increased $33.9 billion,
compared with $32.7 billion in the
first quarter. U.S. bank claims for
their own account increased substantially. Ample bank reserves and increased deposits at IBF's provided
substantial funds for U.S. banks to
meet an increase in international
Loan demand.
Since the establishment of IBF's in
December, U.S. banks have recorded
sharply increased direct lending and
borrowing in the Eurodollar market;
lending to (claims on) unaffiliated foreign banks in each of the last three
quarters was more than twice as high
as in any quarter prior to the establishment of IBF's, and lending to nonbank foreigners was also substantially
higher. Much of this activity apparently represented a shift in some business from U.S. banks' foreign
branches (especially those in offshore
banking centers and London) to
parent banks' IBF's. U.S. banks' own
claims on unaffiliated foreigners
abroad increased $21.3 billion and
$24.3 billion in the first two quarters
of 1982, respectively. In contrast, foreign branches of U.S. banks reduced
their claims on unaffiliated foreigners
by $9.4 and $12.8 billion in the same
periods. A similar pattern can be seen
in liabilities where U.S. banks' liabilities to unaffiliated foreigners were
up $14.4 billion and $13.5 billion in
the first and second quarters, respectively, while liabilities to unaffiliated
foreigners of foreign branches of U.S.
banks declined $8.5 billion and $11.1
billion.
In contrast to a large increase in
the first quarter, banks' custody
claims—largely Eurodollar certificates of deposit (CD's) held for accounts of U.S. money market mutual
funds—declined. The decline may
have reflected perceptions of greater
risk in Eurodollar CD's due to unsettled international financial conditions.
Table D.—Merchandise Trade Balances, by Area
[Millions of dollars; Annual rates]
1981
All other
Of which:
OPEC.. .
Other
... .
Change:
1st half
2d half
1st half
Col. 2
less Col. 1
(1)
(2)
(3)
(4)
21718
34060
-23,314
-12,342
10,746
356
6,178
14,176
3,192
-13,910
-31,710
-4,488
1,232
10,258
2,626
-17,694
-25,994
7930
554
9,354
4,138
-18,354
-11,076
4844
-4,946
-3,918
566
-3,784
5,716
3442
-678
-904
1,512
660
14,918
-34,444
2,734
-23,238
-2,756
-10,602
-474
11,206
-5,490
12,636
2,282
47,452
194,492
41,076
189,498
42,350
179,398
-6,376
4994
1,274
-10,100
-82,662
-180,990
-72,496
-192,138
58136
-186,926
10,166
11 148
14,360
5,212
Total
Canada
Latin America and Other Western Hemisphere
Western Europe
Eastern Europe
1982
Col. 3
less Col. 2
(5)
Petroleum imports
Nonpetroleum imports
Table E.—Selected Direct Investment Transactions With Netherlands Antilles Finance Affiliates
[Millions of dollars]
19 82
19 81
I
Equity and intercompany accounts
Equity
Intercompany accounts
Income
Of which' interest
II
III
IV
P
IP
1,348
423
1,771
2,710
-818
3,528
3,647
-1,238
4,885
380
-431
811
409
-107
516
1,409
-249
1,658
1,450
-451
1,901
2,132
-901
3,033
3,838
-1,460
5,298
96
178
-127
329
-800
1 188
-99
175
-235
302
-199
294
-267
417
-341
461
n.a
na
n.a. Not available.
NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and relend them to their
U.S. parents.
U.S. direct investment abroad shifted to an inflow of $2.4 billion from an
outflow of $0.1 billion, as U.S. corporations relied on foreign affiliates to
obtain funds abroad to meet domestic
financial requirements. For the
fourth consecutive quarter, there
were heavy intercompany account inflows of funds raised in the Eurobond
market by Netherlands Antilles finance affiliates (table E). There were
similar inflows from affiliates in
Western Europe. Outflows to petroleum affiliates remained high, especially to the United Kingdom. Reinvested earnings increased $0.4 billion
to $1.2 billion.
Net U.S. purchases of foreign securities were $0.4 billion, down from
$0.5 billion. New foreign bond issues
in the United States declined $0.6 billion to $0.8 billion; Canadian issues
fell to $0.2 billion from $1.3 billion, as
borrowers shifted to the less expensive Eurobond market. The only other
new issues were those of the World
Bank and the Inter-American Development Bank, and of Israel. Net U.S.
purchases of foreign stocks were $0.1
billion, compared with net sales of
$0.4 billion in the first quarter, as
weak economic conditions abroad continued to discourage investment in
foreign stocks.
Foreign assets in the United States
Memoranda:
Agricultural exports
Nonagricultural exports
September
Foreign official assets in the United
States increased $1.9 billion, compared with a decline of $3.1 billion.
Assets of industrial countries declined
less than in the first quarter when
foreign official intervention in exchange markets was heavy. Assets of
OPEC members increased at a slower
rate than in the first quarter, reflecting lower petroleum revenues; most of
the increase was from Venezuela.
Assets of other developing countries
increased $0.9 billion, compared with
a $1.3 billion decline.
U.S. liabilities to private foreigners
and international financial institutions reported by banks increased
$24.1 billion, compared with $26.7 billion. Liabilities to affiliated foreign offices increased $7.9 billion, primarily
to U.S. branches in the United Kingdom. Since the establishment of IBF's
(Text continued on p. 70)
September
SURVEY OF CURRENT BUSINESS
53
Table 1.-2.-—U.S. International Transactions
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
(Credits + ; debits -)
J
L,ine
II
I
Exports of goods and services 2
..
3
Merchandise adjusted excluding military
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 incorporated affiliates
Other private receipts
U S Government receipts
II
I
92,801
96,129
90,523
93,439
89,420
92,931
93,280
94,389
92,965
92,259
90,206
91,286
2
3
4
5
6
7
8
9
10
60,294
2,215
2,709
582
2,984
1,360
325
1,445
82
61,836
2,411
2,985
782
3,032
1,459
340
1,465
99
55,502
2,741
3,697
996
3,108
1,420
354
1,489
150
58,622
2,380
2,777
631
3,044
1,629
368
1,541
95
55,216
3,000
3,076
630
2,983
1,372
383
1,623
82
56,505
3,360
2,891
762
3,015
1,390
394
1,659
124
60,683
2,215
2,838
708
2,990
1,456
325
1,445
92
60,284
2,411
2,841
786
3,020
1,502
340
1,465
98
57,694
2,741
3,229
763
3,056
1,465
354
1,489
126
57,593
2,380
3,260
734
3,102
1,444
368
1,541
110
55,780
3,000
3,216
763
2,989
1,470
383
1,623
92
55,094
3,360
2,746
763
3,003
1,435
394
1,659
123
11
12
13
14
15
31,873
18,894
12,978
50,407
3,665
8,530
4,419
4,112
11,441
834
8,435
4,952
3,482
12,501
785
6,466
4,203
2,263
13,602
998
8,442
5,321
3,121
12,863
1,048
5,950
4,661
1,288
14,062
1,044
6,062
4,778
1,284
15,826
945
8,215
4,633
3,582
11,441
872
8,231
4,848
3,383
12,501
910
7,450
4,737
2,713
13,602
996
7,977
4,677
3,300
12,863
887
5,710
4,881
829
14,062
1,118
5,897
4,675
1,222
15,826
986
214
132
64
93
126
192
214
132
64
93
126
16
602
192
361,813
-264,143
11288
-11,460
4487
-11,611
-429
-264
-3,294
-1,930
88,365
-65,584
2702
-2,369
-1,014
-2,804
146
-64
-819
-458
27
28
29
30
31
-92,658 90,580 90,210 86,653 88,533
-67,489 -64,568 -66,502 -62,157 -61,454
2989
-2,998 -2,680 -2,908 -2,833
3832 -2,313 -2,507 -3,414
2946
1495
1126
-890
-1,365 -1,218
3004
3009 -2,795 -2,520 -2,698
-24
-49
-84
-109
-125
-72
67
65
-70
68
-873
-844
-813
-865
-818
-478
398
490
-462
-583
-88,613 -91,480 -90,406
-64,995 66831 -65,539
-2,702 -2,998 -2,680
2725
2829
3025
-1,147 -1,102 -1,108
2959
2911
2859
-49
-125
-146
65
67
64
-813
-818
-819
497
464
451
602
192
-214
-132
64
93
33
6,608
1,399
-1,496
1,777
1,936
2,025
1,718 -1,422
34
35
36
4504
-1,459
-645
960
-336
103
-986
-334
-177
1250
-395
-133
1308
-395
-233
1473
-316
-236
1070
-385
-263
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
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 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
37 -109,294 -23,417 -21,638
-905
-5,175 -4,529
38
39
(*)
(*)
-1,824 -1,441
40
-23
41
-780
707
-2,491
42
-102
-861 -2,381
-5,137 -1,466 -1,492
43
44
-9,710 -2,596 -2,374
947
1,071
45
4,370
-189
204
46
183
47
-98,982 -17,422 -19,242
-8,691 -2,182 -5,203
48
4,287
49
1,930 -1,721
3482
50
12978 -4,112
-5,429
51
-458 -1,511
Foreign assets in the United States, net (increase/capital inflow ( + )) ... 56
8,470 13,464 16,880
77,921
57
Foreign official assets in the United States, net
5,361 -2,861 -5,835
4,785
U S Government securities6
7,696 -1,527 -4,090
6,272
58
U S Treasury
securities
.
4635
7,242
2063
4,983
59
Other 7
454
536
60
545
1,289
-337
-55
48
61
Other U.S. Government liabilities 8
-69
2382
62
U S liabilities reported by U9 S banks not included elsewhere
3 109 -2,028
-4,083
Other foreign official assets
974
647
63
829
2,665
64
Other foreign assets in the United States, net
3,109 16,324 22,715
73,136
Direct investment
4,478
2,946
4,540
21,301
65
Fruity and intercompany accounts
2,007
3,360
17,201
66
3,358
939
1,180 141,120
4,099
67
Reinvested earnings of incorporated affiliates
14
1,390
750
68
-446
2,932
U.S. Treasury securities
69
U S securities other than U S Treasury securities ..
761
2,419
3,533
7,109
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns:
Long-term
70
12
12
147 12-162 12 1,006
532
71 |
Short-term
U.S. liabilities
reported
by
U.S.
banks,
not
included
elsewhere:
Long-term 10. . .
.
72
7,663 16,916
73 | 41,262 -3,793
Short-term 10
74
1,093
1,093
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
1,770
6,200
25,809 10,817
75
75a
Of which seasonal adjustment discrepancy
Increase ( + ) in foreign official assets in the United States (line 57
less line 61)
See footnotes on page 63.
80
81
-27,889 -5,290 -5,653 -9,066
4,436
3,471
57
11,079
-584
3,997
2,961
8,975
3,037
1,975 -1,834
4,471
-5,175 -4,529
4,854
5,416
12
n.a.
4,112
3,148
12
-457
23
-780
102
-1,518
2374
1,045
-189
-19,143
5104
-1,721
-3,383
-1,511
12
-1,250 -1,308
-395
395
-167
-163
-982
20,476
25,423
7,023
5,931
n.a.
12
147
22,006 -3,793
1,093
9,988
793
-829
-126
1,473
-316
259
1,070
-385
277
-400
-241
-134
225
-547
-814
-358
-647
-142
-77
754
868
-904 -1,559
-987
-1,257
-2,428 -2,313 -1,860 -2,551
1,008
992
1,169
1,117
-52
157
54
(*)
-15,996 -46,952 -29,208 31924
-81
2,351
-956
-979
748
3,573
2,344
1,734
-829 -1,222
-2,713 -3,300
-531
-409
2843
-618
12
2,470
-33,866 -11,634 -14,998
12
-93
-64
-21,566 -17,257 -47,677 -31,201 -34,615
4
262 -1,089 -1,132
905
(13)
(13)
(13)
(13)
-986
334
-190
-960
336
-126
12
-132
-1,510 -1,808 -1,870 -2,048 -1,732
855
(13)
1 c oc^
12
508
12
-162
12
1,006
12
4,112
(13)
(13)
-42,645 -32,708
8,470 13,464 16,880 39,107
39,107 25,080 31,182
8,119
5,361 -2,861 -5,835
1,935
8,119 -3,122
4,193
7,696 - 1,527 -4,090
1 640 1829
4,193
7,242
2087
4635
4,439
2063
1344
4,439
454
258
-246
536
545
-296
-246
-337
275
48
-55
361
-182
275
1 516 3,367 -3,109 -2,028 -2,382 -3,436
3,436
974
215
647
829
36
216
215
3,109 16,324 22,715 30,988
30,988 28,202 29,248
4,540
2,946
2,673
9,336
4,478
1,165
9,336
3,360
2,007
3,358
8,475
2,281
632
8,475
1,180 141,120 14 860
939
392
534
860
14
-446
1,238
750
1,390
1,277 14 2,074
1,238
3,533
2,419
2,495
761
396
1,319
396
12
-457
n.a.
(13)
33 866
25,080 31,182
-3,122
1,935
-1,640 -1,829
-1,344 -2,087
296
258
-182
361
3,367
-1,516
216
36
28,202 29,248
1,165
2,673
632
2,281
534
392
1,277 14 2,074
1,319
2,495
12
-982
n.a.
16,916
20,476
25,423
22,006
-374
6,703
503 -2,144
9,497
2,474
5,032
-899
1,370
577
7,663
-7,880 -6,941 -4,949 -4,312 -6,547 -7,845 -9,185 -5,873 -5,784
2,909
4,667
4,398
2,767
3,794
3,136
943
2,559
3,229
3,750
2,561
2,385
2,001
4,205
2,215
2,601
3,132
381
2,680
1,399
742
1,293
1,088
2,062
751
-927
3,245
4
262
-2,908 -5,498
7,844
905
126
-16,816 -47,423 -31,753 -34,655 -22,796
4529
262 -1,089 -1,132
-4
(*)
1441
-241
-400
-134
-225
-707
-814
547
-358
-647
2381
-77
-142
754
868
-997 -1,536 -1,375
-912
-1,266
2596
-2,428 -2,313 -1,860 -2,551
1,038
1,016
1,244
1,107
915
183
-52
157
54
(*)
-15,546 -46,773 -29,667 -31,987 -16,892
1652
2,289
-540
-777
-529
1,930
3,573
2,344
1,734
748
3 121
1 288 1 284 -3,582
-2,263
-458
-409
-531
-618 -2,843
12
52 | 12-331 2-3,148 12 2,470
855 12-508
53
(13)
(13)
(13)
(13)
(l3)
54 \\ -84,531
— 11,634 -14,998 -15,254 -42,645
55
-214
-192
32
76
77
78
79
-91,316 -87,070 -87,492
-66,778 61653 60878
-2,908 -2,833 -2,989
3187 -3,192
2881
-1,130 -1,278 -1,210
2,569
2656
2882
-84
-24
-109
-70
-72
68
-865
-873
-844
-502
-561
-518
1 936 -1,392 -1,483
2 004
2004
7 808
1 936 1 392 1 483 1 789 2079
1 789 2 079
-858 -1,092
-884 -1,076
-850
-899
-884 -1,076
-850
-899
-858 -1,092
-3,708
534
-534
-392
860
1 180
1 120
392
939
860
1 120
939
1 180
4 099
8170
9 199
-28,352 -6,667 -7.121 -7,589 -6,975 -8,170 -9,199 -6,667 -7,121 -7,589 -6,975
4354 -3,949 -4,241 -4,272 -4,287 -4,467 -4,354
4272
4467
4287
3949 -4,241
16748
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
Transactions in U.S. offical reserve assets and in foreign official
assets in the United States:
II"
I'
236,254
9,747
12,168
2,991
12,168
5,867
1,386
5,940
426
17
18
19
20
21
22
23
24
25
26
Memoranda:
Balance on merchandise trade (lines 2 and 18)
Balance on goods and services (lines 1 and 17) n
Balance on goods, services, and remittances (lines
77, 35, and 36)
Balance on current account (lines 77 and 33) 1J
IV
III
372,892
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:
Other private payments
U S Government payments
II p
1
Transfers of goods and services under U.S. military grant programs,
net
Interest, dividends, and earnings of unincorporated affiliates
Ir
IV
III
1982
1981
1982
1981
1981
1 089
-2,940
1 132
4 529
1,574
5,416 -2,908
-905
-4
5,498
262 -1,089 -1,132
7,844
-2,940
1,574
54
SURVEY OF CURRENT BUSINESS
September
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1982
1981
1981
1981
1982
I
II
III
IV
Ir
II p
I
II
III
IV
Ir
II p
59,718
60,750
55,145
58,064
55,295
57,011
59,968
58,435
57,871
57,201
56,042
54,883
A
Balance of payments adjustments to Census trade data:
EXPORTS
Merchandise exports, Census basis ' including reexports and excluding
military grant shipments
1
233,677
Adjustments:
Private gift parcel remittances
2
229
49
46
49
85
53
51
49
46
49
85
53
51
Gold exports, nonmonetary
3
1,285
321
307
363
294
250
140
321
307
363
294
250
140
Inland U S freight to Canada
U S -Canadian reconciliation adjustments n e e net 2
Merchandise exports transferred under 3 U.S. military agency sales contracts identified in Census documents
Other adjustments net 4
Of which Quarterly seasonal adjustment discrepancy 5
4
5
1,151
4,271
282
1,041
313
1,204
281
1,023
275
1,003
242
1,084
252
1,122
295
1,041
294
1,204
293
1,023
269
1,003
250
1,084
238
1,122
Equals: Merchandise exports, adjusted to balance of payments basis,
excluding "military" (table 1, line 2)
6
7
8
-4,921 -1,010 -1,204 -1,202 -1,505 -1,615 -1,827 -1,010 -1,204 -1,202 -1,505 -1,615 -1,827
420
562
-107
-157
406
-93
284
487
-244
19
1,202
703
246
126
782
-546
-160
-191
731
9
236,254
60,294
61,836
55,502
58,622
55,216
56,505
60,683
60,284
57,694
57,593
55,780
55,094
10
261,305
65,064
66,752
63,716
65,773
61,694
60,498
65,615
65,537
64,718
65,468
62,268
59,255
311
476
441
672
227
211
311
-99
-75
744 -1,021
-1,108
-81
934
565
-76
225
-51
-75
-129
1,158
-697
561 -1,043
-99
1,411
672
IMPORTS
Merchandise imports, Census basis l (general imports)
Adjustments:
Gold imports nonmonetary
U.S.-Canadian reconciliation adjustments, n.e.c., net 2.
Merchandise 3 imports of U.S. military agencies identified in Census
documents
Other adjustments net 6
Of which quarterly seasonal adjustment discrepancy 5
11
12
1,816
476
441
672
227
211
13
14
15
-307
1,329
75
119
-81
377
-76
256
-75
577
-129
381
Equals: Merchandise imports, adjusted to balance of payments basis,
excluding "military" (table 1 line 18)
16
264,143
65,584
67,489
64,568
66,502
62,157
61,454
64,995
66,831
65,539
66,778
61,653
60,878
Merchandise trade, by
area, adjusted to balance of payments basis,
excluding military: 7
B
EXPORTS
1
236,254
60,294
61,836
55,502
58,622
55,216
56,505
60,683
60,284
57,694
57,593
55,780
55,094
2
3
4
5
6
7
65,090
51,351
12,419
36,330
10,531
13,739
17,101
13,527
3,304
9,578
2,748
3,574
16,578
13,140
3,404
9,047
2,736
3,438
15,103
11,912
2,967
8,326
2,446
3,191
16,308
12,772
2,744
9,379
2,601
3,536
15,756
12,321
2,692
9,018
2,402
3,435
15,798
12,438
2,684
9,148
2,290
3,360
16,442
13,050
3,196
9,237
2,595
3,392
16,193
12,767
3,144
8,958
2,714
3,426
16,300
12,899
3,259
8,978
2,643
3,401
16,155
12,635
2,820
9,157
2,579
3,520
15,288
11,951
2,606
8,734
2,253
3,337
15,479
12,049
2,461
9,015
2,264
3,430
8
9
10
11
4,461
45,250
42,804
18,207
1,594
11,153
10,765
4,249
877
12,991
11,313
5,031
782
10,592
10,218
4,448
1,208
10,514
10,508
4,479
1,608
9,822
8,730
3,620
1,022
10,614
9,383
3,580
1,466
11,277
11,455
4,381
978
12,204
11,105
4,839
923
11,304
10,217
4,577
1,094
10,465
10,027
4,410
1,483
9,945
9,304
3,747
1,140
9,926
9,184
3,432
12
13
14
21,796
8,998
47,855
5,599
1,983
12,099
5,204
2,495
12,378
5,169
2,233
11,405
5,824
2,287
11,973
5,199
2,022
12,079
5,068
2,245
12,375
5,500
1,983
12,560
5,359
2,495
11,950
5,293
2,233
11,424
5,644
2,287
11,921
5,151
2,022
12,587
5,213
2,245
11,907
15
16
17
141,134
21,093
69,543
35,836
4,971
17,893
37,268
5,472
18,219
33,097
5,233
16,390
34,933
5,417
17,041
32,799
5,309
15,500
33,725
5,476
16,282
35,202
5,232
18,783
36,251
5,244
17,811
35,130
5,264
16,377
34,551
5,353
16,572
32,406
5,593
16,298
32,863
5,236
15,855
18
19
20
21
22
23
24
264,143
52,873
41,424
12,746
26,985
11,389
11,449
65,584
12,586
9,592
2,821
6,360
2,751
2,994
67,489
13,301
10,518
3,260
6,840
2,886
2,783
64,568
13,580
10,770
3,745
6,603
2,711
2,810
66,502
13,406
10,544
2,920
7,182
3,041
2,862
62,157
12,740
10,068
2,817
6,820
2,940
2,672
61,454
13,681
10,862
3,107
7,308
3,237
2,819
64,995
12,479
9,542
2,792
6,348
2,745
2,937
66,831
13,068
10,385
3,252
6,715
2,768
2,683
65,539
13,963
11,010
3,797
6,759
2,815
2,953
66,778
13,363
10,487
2,905
7,163
3,061
2,876
61,653
12,614
10,000
2,781
6,796
2,930
2,614
60,878
13,476
10,751
3,111
7,193
3,104
2,725
Eastern Europe
Canada 2
25
26
1,552
47,316
450
11,410
400
12,324
367
11,192
335
12,390
265
11,540
288
12,683
446
11,446
402
11,857
367
12,036
337
11,977
264
11,556
290
12,280
Latin American Republics and other Western Hemisphere
Mexico
27
28
39,099
13,767
10,139
3,190
9,654
3,526
9,520
3,230
9,786
3,821
9,207
3,683
9,262
3,831
9,759
3,037
9,712
3,451
9,815
3,462
9,813
3,817
8,833
3,519
9,378
3,783
Japan
Australia, New Zealand and South Africa
Other countries in Asia and Africa
29
30
31
37,598
5,608
80,097
8,550
1,396
21,053
9,416
1,434
20,960
9,587
1,336
18,986
10,045
1,442
19,098
9,993
1,135
17,277
9,647
1,192
14,701
8,694
1,476
20,695
9,120
1,416
21,256
9,486
1,392
18,480
10,298
1,324
19,666
10,168
1,198
17,020
9,373
1,183
14,898
32
33
34
143,395
49,934
69,262
33,942
14,529
16,663
36,475
13,347
17,267
35,695
10,897
17,609
37,283
11,161
17,723
35,408
9,852
16,632
37,203
6,478
17,462
34,095
14,017
16,437
35,461
13,681
17,287
36,877
10,831
17,464
36,962
11,405
18,074
35,536
9,462
16,391
36,312
6,668
17,585
Total, all countries (A-9)
Western Europe
European Communities (10)
United Kingdom
European Communities (6)
Germany
Western Europe, excluding EC (10)
Eastern Europe
Canada 2
Latin American Republics and other Western Hemisphere
Mexico
Japan
Australia, New Zealand, and South Africa
Other countries in Asia and Africa
Memoranda:
Industrial countries 7
Members of OPEC 7
Other countries 7
....
IMPORTS
Total, all countries (A-16)
Western Europe
European Communities (10)
United Kingdom
....
European Communities (6)
Germany
Western Europe, excluding EC (10)
Memoranda:
Industrial countries 7
Members of OPEC 7
Other countries 7
See footnotes on page 63.
September
SURVEY OF CURRENT BUSINESS
55
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1981
II
I
Merchandise trade, by area, adjusted to balance of payments basis,
excluding military — Continued
Seasonally adjusted
1982
1981
III
IV
P
1982
1981
II"
I
II
III
IV
Ir
II "
B
BALANCE (EXCESS OF EXPORTS +)
35
27,889 -5,290
5,653
9,066
7,880 -6,941
4,949
4,312
6,547 -7,845 -9,185 -5,873 -5,784
36
37
38
39
40
41
12,217
9,927
-327
9,345
-858
2,290
4,515
3,935
483
3,218
-3
580
3,277
2,622
144
2,207
-150
655
1,523
1,142
778
1,723
-265
381
2,902
2,228
176
2,197
-440
674
2,117
1,576
-423
1,840
-947
541
3,963
3,508
404
2,889
-150
455
3,125
2,382
108
2,243
-54
743
2,337
1,889
538
2,219
-172
448
Eastern Europe
Canada2
Latin American Republics and Other Western Hemisphere
Mexico
42
43
44
45
2,909
-2,066
3,705
4,440
1,144
-257
626
1,059
477
667
1,659
1,505
415
600
698
1,218
1,343
873
734
1,876 -1,718 -2,069
722
-477
121
-63
658
-251
1,020
169
1,696
1,344
576
347
1,393
1,388
757
850
556
1,219
-732 -1,512 -1,611 -2,354
214
402
471
-194
593
1,115
228
-351
Japan
Australia, New Zealand, and South Africa
Other countries in Asia and Africa
46
47
48
-15,802 -2,951 -4,212 -4,418 -4,221 -4,794 -4,579 -3,194 -3,761 -4,193 -4,654 -5,017 -4,160
887
963
1,062
3,390
587
1,061
897
845
1,079
841
824
1,053
507
2991
2 326
-32,242 -8,954
8 582
7 581
7 125
5 198
7 745
8 135
9 306
7 056
4 433
49
50
51
-2,261
1,894
-28,841 -9,558
281
1,230
Total, all countries
Western Europe
European Communities (10)
United Kingdom
..
European Communities (6)
Germany
Western Europe, excluding EC (10)
..
...
Memoranda:
Industrial countries7
Members of OPEC7
Other countries7
Merchandise trade, by principal end 2use category, adjusted to balance of
payments basis, excluding military.
3,016
2,253
125
2,198
-538
763
2,792
2,148
85
1,994
-482
644
2,674
1,951
175
1,938
-677
723
2,003
1,298
650
1,822
-840
705
793 -2,598 -2,350 -2,609
1,107
3 449
3 478
790
1 747 2 411
3 130
5,744
7,875 -5,664
4543
1432
1 002 -8,785 -8,437 -5,567 -6,052 -3,869
952
1219
-682
1 132 -1,180
2,346
524 - 1,087 -1,502
93 -1,730
C
EXPORTS
1
236,254
60,294
61,836
55,502
58,622
55,216
56,505
60,683
60,284
57,694
57,593
55,780
55,094
2
3
44,264
191,990
12,815
47,479
10,776
51,060
9,161
46,341
11,512
47,110
10,686
44,530
10,209
46,296
12,575
48,108
11,151
49,133
9,947
47,747
10,591
47,002
10,510
45,270
10,665
44,429
4
5
6
7
8
9
38,314
37,082
22,128
6,223
8,730
1,232
10,760
10,562
6,480
1,938
2,145
198
9,320
9,074
5,456
1,391
2,227
246
8,423
7,906
5,046
935
1,925
517
9,811
9,540
5,147
1,960
2,432
271
8,765
8,597
5,018
1,763
1,816
167
8,747
8,546
4,942
1,646
1,957
201
10,996
10,700
6,770
1,713
2,217
296
9,670
9,368
5,691
1,472
2,206
301
8,718
8,342
4,731
1,479
2,132
375
8,931
8,671
4,937
1,559
2,175
260
8,998
8,758
5,345
1,542
1,872
240
9,163
8,924
5,242
1,748
1,934
239
Industrial supplies and materials
Agricultural
Nonagricultural
Energy products
Fuels and lubricants
Petroleum and products
Other nonagricultural
Nonmonetary gold
10
11
12
13
14
15
16
17
69,820
6,671
63,149
10,746
10,725
3,769
52,403
4,398
18,325
2,104
16,221
2,414
2,409
899
13,807
1,370
17,702
1,555
16,147
2,108
2,102
806
14,038
1,283
16,492
1,154
15,338
2,851
2,846
817
12,486
1,108
17,301
1,857
15,444
3,373
3,368
1,247
12,071
637
16,899
1,981
14,918
3,510
3,505
1,742
11,408
430
16,709
1,562
15,147
3,433
3,427
1,521
11,714
359
18,240
1,727
16,512
2,617
2,612
926
13,895
1,370
17,212
1,637
15,575
2,055
2,049
779
13,520
1,283
16,951
1,504
15,447
2,864
2,859
828
12,584
1,108
17,417
1,803
15,614
3,210
3,205
1,236
12,404
637
17,054
1,644
15,410
3,952
3,947
1,798
11,457
430
16,124
1,640
14,484
3,233
3,227
1,465
11,252
359
Capital goods except automotive
Machinery, except consumer-type
Civilian aircraft, complete— all types
Parts and engines for civilian aircraft
Other transportation equipment
18
19
20
21
22
81,666
65,752
8,878
4,854
2,182
19,895
16,094
2,074
1,263
464
21,697
17,086
2,817
1,199
595
19,771
16,188
1,902
1,183
497
20,304
16,384
2,086
1,209
625
19,174
15,687
1,766
1,159
563
19,818
16,413
1,385
1,316
705
20,122
16,212
2,178
1,269
464
21,107
16,496
2,851
1,168
591
20,236
16,614
1,912
1,213
498
20,201
16,431
1,936
1,204
629
19,354
15,777
1,843
1,172
562
19,282
15,903
1,416
1,263
701
Automotive vehicles, parts and engines
To Canada8
To all other areas ....
23
24
25
19,096
11,185
7,912
4,731
2,842
1,889
5,663
3,586
2,077
4,402
2,474
1,928
4,301
2,283
2,018
4,312
2,491
1,822
4,933
3,150
1,783
4,741
2,821
1,919
5,119
3,129
1,990
5,041
3,011
2,030
4,195
2,223
1,973
4,319
2,464
1,855
4,464
2,761
1,703
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments not included in
lines C 4-26
.
26
16,295
4,191
4,344
3,918
3,842
3,706
3,986
4,166
4,175
4,070
3,883
3,678
3,837
27
11,063
2,391
3,111
2,496
3,065
2,359
2,311
2,418
3,002
2,677
2,967
2,376
2,223
28
264,143
65,584
67,489
64,568
66,502
62,157
61,454
64,995
66,831
65,539
66,778
61,653
60,878
29
30
77,579
186,564
21,324
44,260
20,277
47,212
18,287
46,281
17,691
48,811
16,334
45,823
13,003
48,451
20,533
44,462
20,798
46,034
18,158
47,382
18,091
48,687
15,652
46,001
13,416
47,462
Total (A-9)
Agricultural products
Nonagricultural products
Foods, feeds, and beverages
Foods, feeds, and beverages — agricultural
Grains
Soybeans
Other agricultural foods feeds and beverages
Nonagricultural foods feeds and beverages
IMPORTS
Total (A-16)
Petroleum a n d products
Nonpetroleum products
.
.
.
.
Foods, feeds, and beverages
31
18,113
4,854
4,666
4,136
4,456
3,759
4,380
4,882
4,491
4,450
4,290
3,724
4,295
Industrial supplies and materials
Energy products
Fuels and lubricants
Nonenergy products
Nonmonetary gold
32
33
34
35
36
137,860
83,470
82,531
54,389
4,014
35,846
22,931
22,692
12,915
943
35,948
21,678
21,410
14,271
1,035
33,464
19,680
19,503
13,784
1,113
32,602
19,183
18,925
13,419
924
30,601
18,088
17,828
12,513
757
26,791
14,358
14,173
12,433
649
35,007
21,930
21,724
13,077
943
36,003
22,181
21,922
13,822
1,035
33,656
19,739
19,542
13,917
1,113
33,193
19,620
19,342
13,573
924
29,882
17,189
16,965
12,693
757
26,838
14,760
14,580
12,078
649
37
38
39
40
34,575
30,502
3,749
325
8,087
7,032
940
115
8,564
7,601
894
69
8,656
7,776
820
60
9,269
8,092
1,096
81
8,661
7,675
925
60
9,358
8,268
900
190
8,176
7,119
942
115
8,295
7,378
847
69
8,785
7,861
864
60
9,319
8,143
1,095
81
8,773
7,786
926
60
9,101
8,054
857
190
Automotive vehicles, parts and engines
From Canada
From all other areas
41
42
43
29,737
10,383
19,354
7,115
2,217
4,898
7,865
2,808
5,057
6,776
2,292
4,483
7,980
3,065
4,915
8,112
2,908
5,204
9,366
4,010
5,356
6,712
2,062
4,650
7,465
2,654
4,811
7,698
2,880
4,818
7,862
2,787
5,074
7,658
2,715
4,943
8,929
3,840
5,089
Consumer goods (nonfood) except automotive
All other, including balance of payments adjustments not included in
lines C 31-44
44
38,664
8,725
9,134
10,293
10,512
9,578
9,352
9,216
9,288
9,682
10,478
10,124
9,540
45
5,195
957
1,311
1,244
1,683
1,446
2,207
1,001
1,291
1,268
1,635
1,492
2,175
Capital goods, except automotive
Machinery, except consumer-type...
Civilian aircraft, engines and parts
Other transportation equipment
See footnotes on page 63.
...
September
SURVEY OF CURRENT BUSINESS
56
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
Merchandise trade, by end-use category, Census basis,1 including military
grant shipments:
1981
Seasonally adjusted
1982
1981
1982
1981
I
II
III
IV
I
II
I
II
III
IV
I
II
D
1
233,739
59,738
60,762
55,155
58,084
55,314
57,027
60,114
59,230
57,333
57,062
55,869
55,630
2
3
4
43,815
189,924
189,862
12,699
47,039
47,019
10,646
50,116
50,104
9,067
46,088
46,079
11,403
46,681
46,660
10,557
44,756
44,738
10,107
46,920
46,904
12,460
47,654
47,634
11,022
48,208
48,196
9,852
47,481
47,472
10,480
46,583
46,562
10,381
45,487
45,469
10,563
45,067
45,051
5
37,888
10,655
9,196
8,327
9,710
8,648
8,649
10,890
9,546
8,622
8,830
8,881
9,065
Agricultural...
.
Grains and preparations
Soybeans
Other agricultural foods feeds and beverages
6
7
8
9
36,673
22,060
6,186
8,427
10,457
6,463
1,926
2,068
8,950
5,423
1,379
2,148
7,820
5,054
926
1,840
9,446
5,121
1,955
2,370
8,485
4,976
1,762
1,747
8,453
4,928
1,645
1,880
10,594
6,753
1,702
2,140
9,244
5,658
1,460
2,127
8,256
4,739
1,470
2,047
8,578
4,911
1,553
2,113
8,646
5,303
1,541
1,802
8,831
5,228
1,746
1,857
Nonagricultural (fish distilled beverages etc )
10
1,215
198
246
507
264
162
196
296
301
365
253
236
234
11
67,674
17,802
17,184
15,947
16,742
16,398
16,321
17,716
16,695
16,406
16,858
16,552
15,736
12
13
14
15
6,630
2,277
1,458
2,895
2,095
915
300
880
1,549
540
325
684
1,145
288
281
576
1,841
534
552
755
1,964
757
355
852
1,553
521
352
680
1,717
714
279
724
1,631
507
394
730
1,494
402
396
696
1,787
654
388
745
1,627
570
337
720
1,631
475
425
730
16
17
18
19
61,044
10,725
6,019
3,769
15,707
2,409
1,145
899
15,635
2,102
1,066
806
14,802
2,846
1,834
817
14,900
3,368
1,974
1,247
14,434
3,505
1,503
1,742
14,768
3,427
1,809
1,521
15,998
2,612
1,321
926
15,064
2,049
1,039
779
14,912
2,859
1,836
828
15,071
3,205
1,822
1,236
14,925
3,947
1,889
1,798
14,105
3,227
1,664
1,465
Paper and paper base stocks
20
4,968
1,263
1,340
1,207
1,158
1,115
1,180
1,322
1,261
1,211
1,173
1,167
1,111
Textile supplies and materials
Chemicals, excluding medicinals
Other nonmetals (minerals wood, rubber, tires, etc )
Steel making materials
Iron and steel products
Other metals, primary and advanced, including advanced steel
Precious metals (gold silver platinum)
....
21
22
23
24
25
26
27
3,764
17,962
9,416
900
3,390
9,920
3,760
964
4,538
2,430
197
857
3,050
1,290
1,014
4,575
2,586
309
884
2,824
1,144
910
4,412
2,229
189
797
2,212
891
877
4,437
2,171
204
852
1,834
434
769
4,373
2,168
147
719
1,638
269
765
4,504
2,274
270
672
1,676
310
969
4,542
2,407
233
858
3,056
1,290
992
4,425
2,414
273
875
2,775
1,144
942
4,374
2,291
183
813
2,240
891
863
4,621
2,305
211
844
1,850
434
772
4,374
2,145
158
719
1,644
269
748
4,360
2,121
239
665
1,634
310
Merchandise exports, Census basis, including military grant shipments
Agricultural products
Nonagricultural products
Excluding military grant shipments
..
Foods feeds and beverages
Industrial supplies and materials
Agricultural
Raw cotton, including linters
Tobacco, unmanufactured
. ..
Other agricultural industrial supplies (hides tallow etc )
Nonagricultural
Fuels and lubricants 9
Coal and related fuels
Petroleum and products
....
. ...
. .
....
...
28
80,173
19,580
21,296
19,402
19,895
18,764
19,440
19,808
20,706
19,867
19,792
18,944
18,904
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 e .
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Electronic computers and parts.
Scientific, professional and service industry equipment
29
30
31
32
33
34
35
36
37
38
64,524
12,920
51,605
11,614
4,187
17,243
2,232
10,562
8,837
5,767
15,799
3,140
12,659
2,760
1,044
4,233
569
2,593
2,165
1,459
16,748
3,335
13,414
3,025
1,094
4,496
655
2,639
2,197
1,504
15,890
3,144
12,747
3,013
1,000
4,246
504
2,591
2,179
1,393
16,086
3,301
12,785
2,816
1,049
4,268
504
2,738
2,295
1,411
15,364
3,092
12,272
2,729
934
4,158
521
2,588
2,150
1,342
16,111
3,455
12,656
2,782
963
4,036
541
2,860
2,415
1,474
15,916
3,186
12,730
2,864
1,070
4,236
549
2,574
2,159
1,439
16,159
3,195
12,964
2,879
1,056
4,345
572
2,662
2,218
1,449
16,315
3,247
13,068
3,009
1,043
4,375
543
2,649
2,219
1,450
16,133
3,291
12,842
2,862
1,018
4,287
568
2,677
2,241
1,429
15,454
3,138
12,316
2,811
955
4,155
503
2,570
2,146
1,322
15,601
3,310
12,290
2,677
931
3,907
473
2,880
2,433
1,422
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types
Other transportation equipment
39
40
41
13,467
8,613
2,182
3,317
2,054
464
3,952
2,753
595
3,014
1,831
497
3,184
1,975
625
2,837
1,678
563
2,625
1,309
705
3,427
2,159
464
3,956
2,788
591
3,053
1,841
498
3,030
1,825
629
2,928
1,756
562
2,603
1,340
701
42
17,988
4,417
5,268
4,193
4,110
4,074
4,631
4,427
4,724
4,832
4,004
4,081
4,162
43
44
10,076
7,912
2,528
1,889
3,191
2,077
2,265
1,928
2,092
2,018
2,252
1,822
2,848
1,783
2,507
1,919
2,734
1,990
2,802
2,030
2,032
1,973
2,226
1,855
2,459
1,703
Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.c
45
46
47
4,005
3,310
10,672
1,058
851
2,507
1,270
921
3,076
878
783
2,532
799
755
2,556
653
695
2,726
991
715
2,925
1,061
880
2,486
1,072
843
2,809
1,160
819
2,853
712
767
2,525
658
717
2,706
840
655
2,667
Consumer goods (nonfood), except automotive
48
15,868
4,077
4,222
3,823
3,746
3,598
3,878
4,052
4,053
3,975
3,787
3,570
3,729
49
50
51
6,976
8,336
556
1,787
2,130
160
1,896
2,176
150
1,676
2,016
132
1,617
2,014
115
1,499
1,999
100
1,674
2,099
105
1,807
2,100
145
1,772
2,131
150
1,762
2,066
148
1,635
2,039
113
1,514
1,964
91
1,563
2,060
105
Special category (military-type goods)
52
4,178
905
1,052
1,015
1,206
1,382
1,585
905
1,052
1,015
1,206
1,382
1,585
Exports, n.e.c., and reexports
53
9,971
2,302
2,544
2,448
2,676
2,450
2,523
2,316
2,454
2,616
2,584
2,458
2,448
54
55
5,193
4,778
1,178
1,124
1,355
1,190
1,324
1,124
1,335
1,341
1,226
1,224
1,274
1,249
1,208
1,108
1,314
1,140
1,342
1,274
1,328
1,256
1,251
1,207
1,246
1,202
Capital goods, except automotive
Automotive vehicles, parts and engines
To Canada 8
To all other areas
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones)
Domestic (low-value miscellaneous)
Foreign (reexports)
See footnotes on page 63.
...
57
SURVEY OF CURRENT BUSINESS
September
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
Line
1981
1981
1982
1981
1982
I
II
III
IV
I
II
I
II
III
IV
I
II
56
261,305
65,064
66,752
63,716
65,774
61,694
60,498
64,507
66,102
64,667
66,029
61,225
59,927
Foods, feeds, and beverages
57
18,113
4,854
4,666
4,136
4,456
3,759
4,380
4,882
4,491
4,450
4,290
3,724
4,295
Coffee, cocoa, and sugar
58
5,230
1,575
1,247
1,032
1,376
946
876
1,557
1,248
1,076
1,350
894
894
640
618
556
251
662
168
Merchandise imports, Census basis
Green coffee
Cane sugar
59
60
2,622
2,142
866
586
603
487
495
422
658
647
626
210
636
165
771
689
3,080
2,813
3,504
3,325
3,243
3,374
2,940
2,830
3,401
32,680
32,584
29,397
26,218
631
486
579
350
61
12,882
3,279
3,419
3,105
62
134,632
34,968
35,142
32,508
32,013
30,081
26,166
34,162
35,205
63
64
82,058
77,107
22,530
21,161
21,313
20,179
19,396
18,180
18,820
17,586
17,779
16,284
14,067
12,897
21,561
20,370
21,824
20,700
19,435
18,051
19,238
17,986
16,915
15,602
14,474
13,310
Paper and paper base stocks
65
5,603
1,408
1,424
1,295
1,476
1,348
1,374
1,385
1,398
1,328
1,493
1,330
1,349
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)
66
67
68
69
70
11,863
2,555
633
5,966
2,709
3,039
629
172
1,498
739
3,056
626
184
1,580
665
2,895
644
147
1,472
632
2,874
655
130
1,415
672
2,942
615
230
1,392
705
3,028
606
240
1,529
653
2,930
620
134
1,476
700
2,935
613
138
1,540
643
3,008
649
166
1,524
669
2,991
673
196
1,425
696
2,832
607
188
1,372
666
2,910
594
188
1,492
636
Other foods, feeds, and beverages
Industrial supplies and materials
Fuels and lubricants 9
Petroleum and products
.
Building materials, except metals
71
3,716
964
1,105
861
786
589
834
1,037
1,028
824
827
638
776
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 )
72
73
74
75
76
77
31,390
2,588
11,262
12,514
4,134
5,027
7,028
484
2,024
3,190
1,054
1,330
8,245
752
2,854
3,354
1,099
1,286
8,060
729
3,203
2,906
901
1,222
8,057
622
3,181
3,064
1,081
1,190
7,423
391
3,223
2,719
887
1,090
6,864
386
2,922
2,388
630
1,168
7,249
623
2,155
3,170
1,054
1,302
8,019
690
2,877
3,198
1,099
1,255
8,085
659
3,150
3,023
901
1,253
8,036
616
3,081
3,123
1,081
1,216
7,683
513
3,400
2,703
887
1,067
6,709
351
2,929
2,288
630
1,140
78
34,493
8,031
8,564
8,654
9,245
8,657
9,233
8,120
8,295
8,784
9,295
8,769
8,977
79
30,502
7,032
7,601
7,776
8,092
7,675
8,268
7,119
7,378
7,861
8,143
7,786
8,054
Electrical and electronic, and parts and attachments
Nonelectrical, and parts and attachments
Construction, textile and other specialized industry machinery
and nonfarm tractors
Other industrial machinery n e s
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Scientific, professional and service industry equipment
80
81
9,452
21,050
2,083
4,949
2,304
5,297
2,477
5,299
2,588
5,505
2,370
5,305
2,641
5,627
2,200
4,919
2,298
5,081
2,422
5,439
2,532
5,612
2,498
5,288
2,632
5,422
82
83
84
85
86
3,425
7,748
1,689
5,204
2,984
852
1,779
429
1,192
697
852
1,920
497
1,300
729
877
2,034
379
1,246
762
844
2,015
384
1,466
795
846
1,944
367
1,372
776
802
2,097
376
1,532
820
835
1,766
398
1,215
705
805
1,838
425
1,290
723
876
2,075
429
1,294
764
908
2,068
438
1,406
792
830
1,933
341
1,397
786
760
2,010
322
1,518
813
Transportation equipment, except automotive
87
3,992
998
963
878
1,152
982
965
1,001
916
923
1,151
982
923
Civilian aircraft, engines, parts
Civilian aircraft, complete, all types. . . .
88
89
3,749
1,339
940
297
894
264
820
278
1,096
500
925
363
900
311
942
297
847
264
864
278
1,095
500
926
363
857
311
90
29,737
7,115
7,865
6,776
7,980
8,112
9,366
6,712
7,465
7,698
7,862
7,658
8,929
91
92
10,383
19,354
2,217
4,898
2,808
5,057
2,292
4,483
3,065
4,915
2,908
5,204
4,010
5,356
2,062
4,650
2,654
4,811
2,880
4,818
2,787
5,074
2,715
4,943
3,840
5,089
93
94
95
17,768
4,844
7,124
4,366
1,102
1,648
4,845
1,172
1,848
3,903
1,175
1,698
4,655
1,396
1,930
5,054
1,429
1,630
5,641
1,525
2,199
4,038
1,043
1,632
4,490
1,161
1,813
4,523
1,376
1,800
4,718
1,264
1,880
4,684
1,362
1,612
5,239
1,534
2,155
96
97
98
99
38,664
20,766
14,928
2,969
8,725
4,610
3,324
791
9,134
4,894
3,483
758
10,293
5,316
4,260
717
10,512
5,947
3,861
703
9,578
5,211
3,678
688
9,352
4,911
3,833
608
9,216
4,986
3,469
761
9,288
4,959
3,569
760
9,682
5,173
3,780
729
10,478
5,648
4,111
719
10,124
5,620
3,842
662
9,540
4,996
3,930
615
100
5,667
1,371
1,380
1,349
1,568
1,508
2,000
1,415
1,359
1,372
1,520
1,553
1,969
Capital goods, except automotive
Machinery, except consumer-type
Automotive vehicles, parts, and engines
From Canada . .
From all other areas
Passenger cars, new and used .
Trucks, buses, and special vehicles
Bodies, engines, parts and accessories, n.e.s
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Consumer nondurables, manufactured . .
Unmanufactured consumer goods (gems, nursery stock)
Imports, n.e.s. (low value, goods returned, military aircraft,
exhibits)
See footnotes on page 63.
movies,
September
SURVEY OF CURRENT BUSINESS
58
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
19 82
19 81
I
U.S. Government grants (excluding military) and transactions increasing Government assets,
total
II
III
Ir
IV
IF
Al
14,010
3,373
3,549
3,624
3,464
3,385
3,622
2
3
4
4504
317
4,187
960
986
129
857
1,250
121
1,129
1,308
67
1,240
1,473
419
1,054
1,070
25
1,046
9710
1,142
8,035
94
439
2596
195
2,297
(*)
104
2428
316
1,935
57
120
2313
308
1,882
7
118
1,860
213
1,520
6
120
2,551
285
2,154
-6
118
10
11
-204
-41
-183
-41
189
-21
— 54
4
-157
17
52
7
(*)
18
12
13
14
15
16
68
71
134
(*)
22
36
14
15
38
25
19
26
29
16
34
4
15
48
3
15
27
17
1
10
4
3
3
4
17
18
19
20
21
22
25
5
301
211
13
3
84
105
5
2
4
1
92
47
68
76
4
3
58
16
58
31
66
14
48
36
257
18
190
14
5
23
24
25
26
27
28
29
30
1,142
1,720
7000
3,074
916
222
301
238
195
317
1966
841
135
58
84
-55
323
529
1495
818
114
62
92
301
316
591
1568
735
377
49
68
56
308
283
1972
681
291
53
58
-64
213
247
1943
663
163
66
58
148
285
412
2077
614
128
45
66
127
Estimated transactions involving no direct dollar outflow from the United States
Expenditures on U S merchandise
Expenditures on U S services 4
Financing of military sales contracts by U.S. Government 5 (line C6)
!
By long-term credits
....
By short-term credits *
By grants l
U.S. Government grants and credits to repay prior U.S. Government credits 1 4 .
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) 6 (line Cll)
Less receipts on short-term U.S. Government assets (a) financing military sales contracts l and
(b) financing repayments of private credits
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)
31
32
33
34
35
36
37
38
39
10,067
5994
1991
1,744
1448
2,578
1477
459
739
739
2544
1644
555
339
210
2603
1540
543
317
196
2342
1333
435
350
304
2304
1231
484
538
263
2621
1450
548
629
612
296
495
378
54
39
129
137
6
121
203
152
46
101
181
275
91
19
17
80
40
1
1
1
(*)
1
1
41
42
235
301
105
84
47
92
84
68
58
58
Estimated dollar payments to foreign countries and international financial institutions
43
3,943
795
1,005
1,021
1,122
1,082
Bl
2
3
4
5
6
4370
3935
278
1287
1466
905
947
842
46
242
343
212
1071
964
59
397
347
160
1 107
998
50
297
1 244
1 130
123
351
442
214
915
802
57
287
341
117
1 016
875
33
379
397
65
By category
Grants net (table 1 line 34 with sign reversed)
Financing military purchases *
Other grants
....
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 other than U S dollars
Other long-term assets
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 US Government expenditures..
Assets financing military sales contracts net 2
Other short-term assets (including changes in administrative cash holdings) net
5
6
7
8
9
r
960
r
2374
323
1,922
30
98
r
By program
Capital subscriptions and contributions to international financial institutions, excluding IMF
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 A 19)
Other (including changes in administrative cash holdings), net
By disposition 3
Repayments on U.S. Government long-term assets, total (table 1, line 45)
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
Other assistance programs
Receipts on other long-term assets
U.S. Government liabilities other than securities, total, net increase ( + ) (table 1 line 61)
OOO
319
3
7
24
66
1,001
7
435
105
107
109
114
112
141
Cl
69
55
48
337
275
182
361
2
157
118
86
232
186
5
197
3
4
8915
594
2321
124
2547
167
2451
158
3723
133
2 589
172
603
739
739
222
339
210
742
317
196
77
350
304
1 122
538
263
511
629
612
129
121
46
275
17
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments l(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 5 (line A34)
By long-term credits
By short-term credits l
By grants *
Less transfers of goods and services (including transfers financed by grants to Israel, and by
credits) ' * (table 1, line 3) ..
5
6
7
8
9
160
1744
1 448
10
9747
2 215
2411
2741
2380
3 000
3 360
Associated with U.S. Government grants
and transactions increasing Government assets (including changes in retained accounts) 6 (line A40)
U
1
1
1
(*)
1
1
3
Associated with other liabilities
Sales of nuclear materials by Department of Energy
Other sales and miscellaneous operations
German Government 10-year loan to U.S. Government
12
13
14
15
227
133
7
-100
171
54
118
39
16
76
100
104
43
61
88
2i
110
187
76
111
161
20
141
See footnotes on page 63.
296
1 595
145
September
59
SURVEY OF CURRENT BUSINESS
Table 5.—Direct Investment: Income and Capital
[Millions of dollars]
(Credits +; debits -)
Line
1982
1981
1981
IV
IIII
U.S. direct investment abroad:
1
31,873
8,530
8,435
6,466
8,442
5,950
6,062
2
3
4
5
6
18,894
161
9,474
9,260
12,978
4,419
107
1,894
2,417
4,112
4,952
18
2,390
2,545
3,482
4,203
83
2,025
2,094
2,263
5,321
-48
3,165
2,203
3,121
4,661
-76
2,451
2,286
1,288
n.a.
1,284
7
-8,691
-2,182
-5,203
-529
-111
-540
2,289
8
9
10
11
12
13
14
15
16
17
4,287
6,719
1,025
-5,437
6,462
5,694
-1,311
7,005
-2,432
-12,978
1,930
1,602
-425
-1,190
765
2,027
-1,635
3,662
328
-4,112
-1,721
-388
1,114
-581
1,695
-1,503
-1,572
69
-1,332
-3,482
1,734
3,152
-400
-1,251
851
3,552
724
2,828
-1,418
-2,263
2,344
2,354
736
-2,415
3,151
1,618
1,172
446
-10
-3,121
748
957
-1,123
-2,137
1,014
2,080
-231
2,311
-209
-1,288
3,573
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-1,284
Income (line 1):
Petroleum
Manufacturing
Other
18
19
20
13,168
8,212
10,493
3,991
2,098
2,442
3,709
2,271
2,455
2,941
1,159
2,366
2,527
2,685
3,230
2,875
1,233
1,842
n.a.
n.a.
n.a.
Interest, dividends, and earnings of unincorporated affiliates (line 2):
Petroleum
Manufacturing
Other
21
22
23
9,135
4,661
5,098
2,310
980
1,129
2,674
1,116
1,162
2,087
1,038
1,078
2,064
1,527
1,729
2,584
1,056
1,021
n.a.
n.a.
n.a.
Reinvested earnings of incorporated affiliates (line 6, or line 17 with sign reversed):
Petroleum
Manufacturing
Other
24
25
26
4,033
3,550
5,395
1,681
1,118
1,313
1,035
1,155
1,292
854
120
1,288
463
1,157
1,501
292
176
821
n.a.
n.a.
n.a.
Equity and intercompany accounts (outflow (—)) (line 8):
Petroleum
Manufacturing
Other
27
28
29
1,939
617
1,731
1,785
365
-220
-1,822
370
-514
1,293
955
937
781
626
-1,136
-704
2,588
-1,550
n.a.
n.a.
30
-7,808
-1,789
-2,079
-2,004
-1,936
-1,392
-1,483
31
32
33
34
35
—3,708
-1,116
-1,850
—742
—4,099
-850
-219
-417
-215
-939
-226
-515
-158
-1,180
-294
-460
-129
-1,120
-1,076
-377
-458
-241
-860
-858
-324
-426
-109
-534
-1,092
-483
-538
-71
-392
36
21,301
2,946
4,540
4,478
1,165
2,673
37
38
39
40
41
42
43
44
45
46
17,201
16,522
9,811
10,714
-903
6,711
6,782
-71
679
4,099
2,007
1,810
1,394
1,446
-52
416
958
-542
198
939
3,360
3,068
1,732
1,850
-118
1,336
1,023
313
293
1,180
3,358
3,183
2,350
2,479
-129
833
640
194
175
1,120
8,475
8,462
4,336
4,939
-603
4,126
4,163
-37
14
860
632
776
-362
1,221
-1,583
1,137
727
410
-144
534
2,281
1,992
1,098
1,165
-67
894
846
48
287
392
Income (line 30):
Petroleum
Manufacturing
Other
47
48
49
-3,407
-1,012
-3,388
-893
-167
-730
-973
-424
-681
-736
-330
-805
-92
-1,039
-781
-120
-491
-825
-62
-596
Interest, dividends, and earnings of unincorporated affiliates (line 31):
Petroleum
Manufacturing
Other
50
51
52
-1,019
-1,067
-1,622
-221
-268
-362
-264
-229
-406
295
250
338
-240
-319
-517
-217
-329
-312
-360
-279
-453
Reinvested earnings of incorporated affiliates (line 35, or line 46 with sign reversed):
Petroleum
Manufacturing
Other
53
54
55
-2,388
54
-1,766
-672
101
-369
-710
-195
-276
-441
-80
-600
-565
227
-522
-564
209
-179
-465
217
-143
Equity and intercompany accounts (inflows (+)) (line 37):
Petroleum
Manufacturing
Other
56
57
58
3,060
4,348
9,794
319
534
1,155
271
1,284
1,805
1,171
1,240
947
1,300
1,289
5,887
114
737
-219
31
657
1,593
Income (table 1, line 11)
Interest, dividends, and 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)
Equity and intercompany accounts (table 1, line 49)
Incorporated affiliates
Equity
Increase
Decrease
Intercompany accounts
U.S. parents' receivables
U.S. parents' payables
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 50)
By industry of affiliate:
Foreign direct investment in the United States:
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
Decrease
Intercompany accounts
U.S. affiliates' payables
U.S. affiliates' receivables
Unincorporated affiliates
Reinvested earnings of incorporated affiliates (table 1, line 67)
By industry of affiliates:
See footnotes on page 63.
September
SURVEY OF CURRENT BUSINESS
60
Table 6.—Securities Transactions
[Millions of dollars]
19 82
19 31
I
Foreign securities, net U.S. purchases ( — ), balance of payments basis (table 1, line 51, or lines
6 + 17 below)
III
II
Al
-5,429
2
5
139
-139
-458
IV
I
II p
1,511
618
-2,843
-531
-409
188
349
-17
214
-100
Stocks:
Treasury basis net
l
Adjustments:
Less recorded in table 1 line 48 as US direct investment abroad
Plus exchange of stock associated with direct investment in the United States
Plus other adjustments
3
4
5
Balance of payments basis net
6
5
7
8
-243
-103
9
10
11
12
13
247
-143
686
-234
-62
14
5434
Newly issued in the United States
Of which Canada
Other foreign stocks
Western Europe
Canada
Japan
Other
.. .
188
349
17
214
100
-114
-97
-78
6
-51
120
11
70
19
8
-74
-122
305
198
-59
427
119
-98
402
4
33
-95
120
7
1
334
31
172
153
22
-30
53
16
61
22
319
1 323
967
2825
745
309
-1323
967
2825
745
309
2306
245
2061
1675
1 266
3 287
321
2966
1 412
'272
1 140
815
116
699
299
1 513
220
-193
81
-207
1244
310
1 516
1323
215
110
106
1 245
89
1
99
500
139
-45
359
-445
Bonds:
Adjustments:
Plus additional Canadian redemptions
Plus other adjustments
2
15
16
17
-5,434
18
19
20
8020
-1,184
6836
21
22
23
24
25
26
-816
4816
297
-472
-374
1245
Redemptions of U.S.-held foreign bonds 2
Canada
Other countries
International financial institutions 3
27
28
29
30
1,232
520
453
259
292
160
60
72
322
165
120
37
318
105
213
300
90
60
150
300
156
44
100
520
195
130
195
Other transactions in outstanding bonds 2
Western Europe
Canada
Japan
Other
31
32
33
34
35
1354
202
15
510
627
142
115
—2
136
123
661
112
28
309
268
389
162
-12
137
102
162
43
57
72
134
367
143
112
119
7
14
585
180
84
475
Bl
7,109
2,419
3,533
761
396
1,319
2,495
1 674
2 969
676
442
934
995
Balance of payments basis net
....
Newly issued in the United States
By type* Privately placed
Publicly offered
By area' Western Europe
Canada
Japan
Latin America
Other countries
International financial institutions
3
U.S. securities, excluding Treasury issues and transactions by foreign official agencies, net
foreign purchases ( + ), balance of payments basis (table 1, line 69, or lines 5+12 below)
-319
752
-209
543
543
-100
— 109
409
77
-69
78
Stocks:
Treasury basis net *
2
5761
Adjustments:
Plus exchange of stock associated with U.S direct investment abroad
Plus other adjustments *...
3
4
-769
27
55
532
209
260
207
Balance of payments basis, net
Western Europe
Canada
Japan
Other
5
6
7
8
9
4992
3594
1045
118
235
1701
1309
222
48
218
2914
1720
773
188
233
144
248
82
19
205
233
317
32
41
11
674
718
143
1
100
788
628
9
100
269
10
11
5 040
2923
2028
1 310
1 485
867
1 604
987
77
240
305
340
1 794
87
12
13
2117
718
200
618
100
617
60
163
645
360
1 707
100
14
15
1757
1
517
22
496
1
558
22
185
9
636
45
1 562
16
359
122
127
165
55
41
149
Bonds:
Treasury basis net l
Adjustments 4
Balance of payments basis, net
New issues sold abroad by U.S. corporations
Investments by international financial institutions
U.S federally sponsored agencies
Other transactions in U.S. bonds
Of which United Kingdom
See footnotes on page 63.
3
in nonguaranteed bonds of
61
SURVEY OF CURRENT BUSINESS
September
Table 7.—Claims and Liabilities on Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
Line
Amounts
outstanding March
31, 1982
1982
1981
(Credits ( + ); increase; in U.S. liabilities or decrease in U.S. assets. Debits ( —);
decrease ;i U.S. liabilities or increase in U.S. assets.)
1981
III
Al
2
3
-331
-3,148
564
-3,712
2,470
252
2,218
855
-327
1,182
-508
90
-598
4,112
579
-910
Financial claims
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 2
Of which United Kingdom
Canada
Caribbean banking centers 3.
Other
By type: Deposits
Other claims
4
5
6
7
8
9
10
11
12
13
-174
-2,331
324
1,480
-1,002
-932
434
-298
124
16
-1,531
113
-1,554
-1,228
428
-2,436
105
2,148
2,070
78
1,479
908
452
725
-56
2,048
100
633
681
-48
440
303
151
201
-8
799
-166
-624
-456
-168
-64
157
-51
-630
70
-709
85
2,789
1,878
911
1,627
-97
1,617
1,064
98
1,784
1,005
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
17,675
15,589
2,086
9,692
3,524
4,874
6,052
1,931
12,638
5,037
Commercial claims
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 2 4
Oil-exporting countries .
Other
By type: Trade receivables
Other claims
14
15
16
17
18
19
20
21
-157
-140
-17
-85
-172
100
26
-183
-817
-720
-97
-673
-118
-26
-738
-79
322
300
22
385
-139
76
349
-27
222
234
-12
191
164
-133
248
-26
116
46
70
12
-79
183
167
-51
1,323
1,369
537
357
429
1,318
5
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
12,384
11,864
520
6,753
1,651
3,980
11,449
935
Bl
2
3
532
147
976
-829
-162
14
-176
1,006
261
745
-457
1,768
-1,234
517
-974
-982
823
-1,805
n.a.
n.a.
27,742
6,927
20,815
Financial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 2
Of which United Kingdom
Caribbean banking centers3.
Other
4
5
6
7
8
9
10
-63
287
-350
-252
-691
63
126
371
511
-140
-40
-105
259
152
-92
209
-301
-207
-246
131
-16
1,011
1,145
-134
1,405
1,056
-423
29
-1,353
-1,578
225
-1,410
-1,396
96
-39
207
737
-530
473
556
-743
-123
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
11,190
9,320
1,870
8,282
7,304
1,912
996
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
By area: Industrial countries 2
Oil-exporting countries 4
Other
By type: Trade payables
Other liabilities
11
12
13
14
15
16
17
18
597
-224
-33
-191
-211
-569
556
-538
314
-70
209
-279
305
118
-493
36
-106
-5
896
456
440
817
25
54
323
573
-1,189
-973
-216
-266
-1004
81
-1,157
-32
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
16,552
15,763
789
7,422
6,784
2,346
9,028
7,524
Claims, total
Long-term (table 1, line 52)
Short-term (table 1, line 53)
Liabilities, total
Long-term (table 1, line 70)
Short-term (table 1, line 71)
1,357
426
-1,186
-1,171
1,768
446
852
-1,303
-992
987
30,059
5,134
24,925
155
3,957
-46
See footnotes on page 63.
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
Line
1981
III
Total (table 1, lines 54 & 55)
Amounts
outstanding June
30, 1982
1982
1981
(Credits ( + ); decrease in U.S. assets. Debits ( —); increase in U.S. assets.)
IV
-84,531
-11,634
-14,998
-15,254
-42,645
-32,708
-33,866
361,047
By area:
Industrial countries l
Of which United Kingdom
2
Caribbean banking centers
Oil-exporting countries3
Other
Of which Latin American countries..
Asian countries
African countries
-34,079
-16,094
-19,503
-2,259
-28,690
-22,421
-5,028
-705
-8,481
-3,522
-4,275
-73
1,195
107
908
45
-7,361
-4,094
-2,907
172
-4,902
-1,822
-2,978
79
-5,065
-3,334
-13,172
-5,144
-7,485
-2,260
-19,728
-16,318
-2,424
-549
-15,853
-9,086
-6,177
-1,594
-9,084
-8,324
-875
-250
-9,869
-2,889
-7,198
-1,887
-14,912
-11,093
-3,073
-532
145,581
57,110
80,520
16,269
118,677
86,295
26,543
2,962
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 borrowers4
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 currencies
Banks' claims for own account
Of which deposits
Banks' claims for domestic customers' accounts
Of which deposits
-83,679
-73,524
-31,256
-20,743
-10,513
-9,755
-19,943
-11,281
-12,570
-10,155
-326
-9,351
-478
-852
-844
-814
-8
615
-12,193
-7,244
-9,836
-7,026
-2,810
-21
3,703
991
-1,090
-4,949
38
-3,879
-1,108
559
41
810
518
581
-15,684
-13,695
-4,641
-894
-3,747
-1,754
-5,891
-1,996
-1,409
-1,989
251
-3,485
1,245
-271
97
61
-14,974
-13,305
-8,591
-7,381
-1,210
-2,074
-3,221
-1,745
581
-1,669
-229
-1,532
92
-280
-379
-359
99
-35
-40,828
-39,280
-8,188
-5,442
-2,746
-5,906
-14,534
-8,531
-10,652
-1,548
-386
-455
-707
-1,817
-1,095
-994
-722
-32,343
-26,442
-5,075
-5,121
46
-2,586
-13,509
-6,004
-5,272
-5,901
-134
-6,576
809
-365
-392
-398
27
28
-33,134
-35,103
-10,526
-3,183
-7,343
-6,228
-13,806
-6,793
-4,543
1,969
86
363
1,520
-732
-751
236
19
-82
353,760
312,574
112,240
62,893
49,347
40,007
101,407
35,494
58,920
41,186
1,426
31,966
7,794
7,287
6,363
3,559
924
120
-5,331
-3,829
-36
508
-744
-997
-1,388
-1,222
-3,163
-2,118
-1,211
-1,148
-3,152
-2,964
20,003
19,308
-9,306
-24,675
-6,874
-531
2,302
-1,718
-866
-6,866
-3,048
-685
-1,518
-184
-7,224
-18,593
-1,924
-2,289
-15,842
-915
-3,645
-15,579
-2,449
28,323
132,109
32,929
Memoranda:
Claims on foreign public borrowers (incl. in line 15 above):
Long-term
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 63.
-5,255
-4,388
-534
-280
62
September
SURVEY OF CURRENT BUSINESS
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]
1982
1981
Line
(Credits ( + ); increase in foreign assets. Debits (-); decrease in foreign assets.)
1981
I
II
III
IV
r
l
II"
Amounts
outstanding June
30, 1982
Al
4,785
5,361
-2,861
-5,835
8,119
3,122
1,935
180,376
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 and 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 l
Demand deposits
Time deposits *
Other
Banks' custody liabilities payable in dollars 1 2
Other foreign official assets (table 1, line 63)
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
4,983
-3,848
-3,848
7,242
4,249
4,249
-2,063
-2,768
-2,768
-4,635
-7,538
7538
4,439
2,209
2,209
1344
-5,341
-5,341
-2,087
-3,539
-3,539
113,537
43,509
43,509
11,695
-2,864
-2,864
3,353
-360
-360
1,797
-1,092
-1,092
3,703
-800
-800
2,842
-612
-612
4,497
-500
-500
2,593
-1,141
-1,141
59,878
10,150
10,150
1,289
-69
-4,083
-1,187
-1,053
549
-683
-2,896
2,665
454
-55
-3,109
-1,616
-433
692
491
1493
829
536
48
-2,028
-427
743
387
-783
-1,601
647
545
-337
-2,382
-1,859
1278
577
-4
-523
974
-246
275
3,436
2,715
-85
2,205
595
721
215
-296
-182
-1,516
-1,481
-336
721
-1,866
-35
216
258
361
3,367
3,598
890
620
2,088
-231
36
8,999
13,259
28,419
18,925
3,167
5,486
10,272
9,494
16,162
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)
Bl
44,194
-2,403
8,413
16,470
21,714
26,700
24,080
233,908
2
3
4
5
6
13,068
22,527
141
6,996
1,462
2,323
-3,334
556
-679
-157
2,483
4,543
287
1,154
54
4,797
9,164
-310
3,074
255
3,465
12,154
720
3,447
1,928
13,368
11,472
155
2,511
806
10,048
3,012
3,925
5,483
1,612
104,944
67,359
11,838
40,621
9,146
7
8
9
10
11
12
13
14
15
16
17
18
19
20
36,769
1,044
35,725
32,880
32,928
27,869
21,835
6,034
5,059
-2,576
6,917
718
-48
2,845
-3,778
203
3981
-4,174
-3,685
1827
175
-2,002
1858
-1,623
621
-856
-489
193
6,467
328
6,139
6,260
6,527
7,228
3,842
3,386
-701
1,063
577
-1,187
-267
-121
16,088
269
15,819
15,221
15,375
13,706
10,251
3,455
1,669
1,569
147
-47
-154
598
17,992
244
17,748
15,573
14,711
8,762
7,567
1,195
5,949
-3,585
6,726
2,808
862
2,175
22,960
530
22,430
23,478
22,950
11,631
13,495
1 864
11,319
-2,347
9,999
3,667
528
-1,048
14,988
709
14,279
13,483
13,169
7,883
2,881
5,002
5,286
14
4,750
522
314
796
177,103
2,922
174,181
164,401
159,761
116,358
55,793
60,565
43,403
9,281
23,403
10,719
4,640
9,780
International financial institutions 6.
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 1
Demand deposits
Time deposits l
.. .
Other
Banks' custody liabilities payable in dollars * 2
21
22
23
24
25
26
27
28
29
30
1,462
1,372
288
1,084
90
194
116
-27
105
-104
-157
411
79
332
-568
150
20
-18
-112
418
-54
-21
44
23
-33
63
98
8
-43
96
-255
-497
193
-304
242
41
25
-15
31
201
1,928
-1,479
446
1,033
449
240
13
-2
229
209
-806
-561
432
-129
-245
193
-53
83
-223
52
1,612
968
1,315
-347
644
791
91
445
255
-147
9,146
6,567
1,425
5,142
2,579
1,236
300
586
350
1,343
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 J
Demand deposits
Time deposits l
Other
Bank's custody liabilities, payable in dollars 1 2
31
32
33
34
35
36
37
38
39
40
41
5,963
516
177
2,228
-1,889
5,447
5,383
-180
6,250
-687
64
1,532
776
133
643
2,000
443
-86
529
1,557
1,231
77
1,282
-128
326
1,794
485
44
255
-784
2,279
2,420
259
2,564
115
-141
4,546
1,308
84
1,224
756
1,011
97
1,285
-177
-255
637
-218
86
801
1 105
855
721
99
1,119
-497
134
3,238
3,508
-444
3,979
-27
-270
7,480
397
172
579
354
7,083
6,550
-200
6,484
266
533
47,659
12,071
954
8,423
82,694
35,588
31,745
4,544
26,420
781
3,843
42
-474
1,059
300
795
1,080
497
1,709
12,878
Foreign official assets in the United States net (table 1 line 57)
By area:
Industrial countries 3
..
Caribbean banking centers 4
Oil-exporting countries 5
Other countries
International financial institutions 6.
.
By type:
Foreign commercial banks
..
U S Treasury bills and certificates
U S liabilities reported by U S banks
Banks' liabilities for own account1
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 1
Other
Payable in foreign currencies
Banks' custody liabilities, payable in dollars 1 2
Memorandum:
Negotiable certificates of deposit held for foreigners *
See footnotes on page 63.
....
....
...
. .
September
SURVEY OF CURRENT BUSINESS
63
Footnotes to U.S. International Transactions Tables 1-10
General notes for all tables:
r
Revised.
"Preliminary.
*Less than $500,000 (±).
n.a. Not available.
Table 1-2:
1. Credits, + : 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).
3. Excludes 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, 1982, were as follows in millions of dollars: line
38, 30,671; line 39, 11,149; line 40, 4,461; line 41, 6,062; line 42, 8,999.
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 debt 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 investments in U.S. corporate stocks and in debt securities of private corporations
and State and local governments.
10. Beginning with estimates for the second quarter of 1978, the distinction between short- and
long-term liabilities is discontinued.
11. Conceptually, the sum of lines 79 and 74 is equal to "net foreign investment" in the National Income and Product Accounts (NIPA's). 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 1973-1V, 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's 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" 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.
14. Includes foreign currency denominated notes sold to private residents abroad. See table 9,
line 35, footnote 7.
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 for 1981. In 1982, imports reflect f.a.s. Customs values. 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 inland freight on U.S. merchandise imports from Canada; 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 trade with international organizations, namely, purchases of nonmonetary gold from the IMF and transfers of tin to the International Tin Council
(ITC), 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, the IMF and the ITC.
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 $1,842 million in 1981, has
been largely corrected in line C24.
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, section
4, 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.
3. The identification of transactions involving direct dollar outflows from the United States is
made in reports by each operating agency.
4. Line A33 includes foreign currency collected as interest, and lines A38 and B2 include foreign currency collected as principal, as recorded in lines A13 and A14 respectively.
5. Includes (a) advance payments to the Department of Defense (on military sales contracts)
financed by loans extended to foreigners by U.S. Government agencies and (b) the contraentry for
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.
7. Receipt on short-term Commodity Credit Corporation asset financing U.S. merchandise
export.
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. "Other" industries includes mining; trade; banking; finance (except banking), insurance, and real estate; agriculture, forestry, and fishing; construction; transportation, communication, and public utilities; 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. Amounts outstanding were reduced by an increase in the reporting exemption level from $2
million to $10 million, effective March 31. Capital flows omit this drop in reporting coverage.
2. Consists of Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
3. Mainly in the Bahamas and Cayman Islands.
4. 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.
6. Mainly the 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.
7. Consists of U.S. Treasury notes denominated in foreign currencies, sold through 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 (10)" includes the "European Communities (6)," the United
Kingdom, Denmark, Ireland, and Greece.
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.
64
SURVEY OF CURRENT BUSINESS
September
Table 10.—U.S. International
[Millions of
Western Europe
(Credits +; debits -) 1
Line
1QC1
n
I
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 incorporated affiliates
Other private receipts
U S Government receipts
••
Transfers of goods and services under U.S. military grant programs, net
Mercnanaise, aajus
,
g
ry
Travel
Other transportation
recs ana royaiucs
to am
rccs ana royai l~°
&
.
°
ITS P
^^ t
t f
'acpllaneous services
Payments of income on foreign assets in the United States:
Tinterest,
f
t A'
't\ t\as, anH
arviae
rtem estea e
g
TT S C
t
' e s otoA
f unincoroorated
affiliates
frr t ^
po
t
U S military grants of goods and services, net
U.S. Government grants (excluding military grants of goods and services) ...
Private remittances and other transfers
..
U S assets abroad net (increase/ capital outflow ( ))
U S official reserve assets net 4
Gold
Rf> rve pos
nositinn in the International Monetarvy Fund
U S Government assets other than official reserve assets net
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 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:
Loner-term
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
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) 10
See footnotes on page 63.
IP
I
II
26,468
27,038
24,985
27,250
25,680
26,098
83,417
20,963
21,456
17,101
563
355
208
953
733
134
316
23
16,578
768
600
323
936
723
143
328
22
15,103
765
739
421
981
723
152
334
36
16,308
686
458
226
989
856
161
338
19
15,756
745
374
233
947
752
170
359
23
15,798
688
547
273
947
765
176
368
30
51,351
1,954
1,697
974
2,896
2,719
491
1,002
77
13,527
383
271
173
720
657
111
239
19
13,140
537
476
274
708
649
119
252
16
11
12
13
14
15
11,874
7,249
4,625
12,348
1,418
3,034
1,403
1,631
2,727
322
2,049
1,385
664
3,313
369
30
3,647
2,082
1,565
3,179
383
29
2,523
2,025
497
3,400
398
40
2,166
2,245
80
3,994
346
9,004
5,353
3,651
10,284
968
2,346
990
1,357
2,281
236
2,467
1,948
519
2,613
207
16
127
25
3,144
2,379
765
3,129
345
43
53
35
7
7
17
96,632
22,805
-24,905
-25,132
-23,790
-22,811
25,086
75,927
17,714
19,685
18
19
20
21
22
23
24
25
26
-52,873
-6,485
-3,123
-3,344
-3,578
-545
-193
-1,061
-480
-12,586
-1,501
400
-744
-862
-187
-47
269
-106
13,301
-1,789
-1,001
1,085
-923
-65
48
-264
-153
13,580
-1,512
-1,256
873
-930
-171
48
-263
-103
13,406
-1,683
-466
642
-863
-123
50
-266
-118
-12,740
-1,637
447
-821
-779
101
-51
-272
124
-13,681
-1,704
-1,151
-1,178
-816
75
-53
-276
136
-41,424
-5,567
-2,429
2,531
-2,679
354
-176
-886
336
-9,592
-1,383
311
-551
-643
156
-43
-224
-66
-10,518
1,458
-831
-810
-691
-32
-43
-220
-112
27
28
29
30
31
-5,561
-2,686
2,875
-11,755
-7,634
1,261
622
-639
2,857
-1,985
-1,350
-670
-680
-2,951
-1,975
-1,412
-629
783
-3,057
-1,926
-1,538
-766
773
-2,890
-1,748
-941
-654
-287
-3,123
1,776
-977
-787
-190
-3,456
1,584
-5,132
-2,280
-2,852
-8,111
6,304
1,118
533
-585
1,975
-1,652
1,253
-576
-677
2,077
-1,639
-40
-7
25
-43
-30
-29
-53
-35
-7
33
35
116
34
14
-129
-136
-19
440
172
97
34
35
36
-182
-644
861
-8
-144
268
-10
-148
191
-24
176
215
-141
176
188
-148
-181
193
-14
-180
175
-23
484
947
-4
112
288
-3
-113
214
37
-27,329
8,752
-6,489
-2,562
-9,525
-13,637
— 6,995
-22,805
-7,503
-5,889
38
39
40
41
42
-779
(*)
2,384
(*)
83
901
788
-112
162
1,707
(*)
-2,179
(*)
-637
779
-2,384
-83
901
788
-112
162
-1,708
-2,179
-637
43
44
45
46
-74
-1,180
1,093
13
51
-329
230
48
-308
-384
284
-208
4
252
233
23
281
-215
346
150
-74
305
247
-16
-55
278
235
12
68
414
483
-1
23
120
109
34
-192
-137
106
-161
47
48
49
50
51
26476
-4,588
37
-4,625
624
6317
-92
1,539
-1,631
142
-6,098
-3,139
2,374
-765
-274
-3,467
395
1,059
-664
165
-10,594
-1,752
187
-1,565
-373
-13,451
868
-370
-497
210
-7,102
476
396
80
-578
-21,165
-2,622
1,030
-3,651
-674
-5,347
349
1,706
-1,357
-186
-5,060
-2,722
-2,203
-519
-77
14
14
-127
52
53 j
57
58
59
60
61 '
62
63 )
Short-term
U.S. liabilities reported by U.S. banks, not included elsewhere:
Long-term
lr
65,090
2,782
2,152
1,178
3,859
3,035
590
1,315
100
Foreign official assets in the United States net
U S Government securities6
...
.
U S Treasury
securities
Other 7
Other U S Government liabilities 8
U S liabilities reported by U9 S banks not included elsewhere
Other foreign official assets
U S securities other than U S Treasury securities
.
U.S. liabilities to unaffiliated foreigners reported by U.S. nonbanking
concerns:
IV
105,740
Foreign assets in the United States net (increase/capital inflow (+))
Reinvested earnings of incorporated affiliates
1981
III
1
54 J
55
56
Other foreign assets in the United States net
Direct investment
1982
2
3
4
5
6
7
8
9
10
32
..
Unilateral transfers (excluding military grants of goods and services), net
European Communities (10) "
1981
1,685
1S
279
14
14
1,216
15
14
448
15
14
300
15
477
15
— 13,270
n.a.
15
— 6,999
"1,859
15
— 19,728
- 22,949
«_ 5304
12,800
4,034
-2,645
2,104
9,307
8,498
11,006
) „
-1,753
-8,627
-7,114
-1,054
-5,228
-2,242
(16)
(16)
(16)
(16)
(16)
(16) J
-169
17
-42
387
242
132
128
-16,439
- 3,902
- 4,475
- 8,768
"-109
15
- 5,401
"1,222
15
- 3,484
10,842
4,915
(")
(17>
(l^
j „
64
130
(")
(")
11,662
8,810
2,852
(17)
4,817
1,496
910
585
(17)
1,639
2,057-,
1,38Q
677
252
-2,318
n
(16)
(16)
(16)
(16)
(ie)
(16)
64
65
66
67
68
69
29,239
12,403
9,528
2,875
(ie)
5,308
5,787
1,736
1,097
639
5,981
2,327
1,647
680
9,218
3,110
2,327
783
8,253
5,230
4,458
773
13,726
2,001
1,715
287
1,888
2,249
725
445
1,163
13,248
1,264
1,074
190
("*
2,056
70
71 j
"513
"-402
"157
983
"684
" n.a.
" 159
"-47
»4-173
,,
(16)
(16)
(16)
(16)
(16)
(19>
"-5,226
"-1,763
"-6,063
5,385
939
6,968
590
-3,112
2,406
-5,005
4,034
-832
6,338
12,217
9,108
9,325
9,143
4,515
3,663
3,787
3,779
3,277
2,133
2,176
2,167
1,523
147
-108
-132
2,902
3,459
3,471
3,330
3,016
2,869
2,881
2,733
2,117
1,012
1,007
994
9,927
7,490
7,953
7,930
3,935
3,248
3,424
3,420
2,622
1,772
1,872
1,869
72
73
74
75
76
77
78
79
I
(16)
(16)
(16)
" 1,740
(16)
14
(16)
(17)
1,991
65
SURVEY OF CURRENT BUSINESS
September
Transactions, by Area
dollars]
European Communities (10) n
1981
1982
1981
1981
IV
lr
11"
19,596
21,402
20,281
20,549
11,912
539
596
339
729
647
127
255
31
12,772
495
354
188
739
766
134
256
13
12,321
498
286
200
724
675
141
269
17
12,438
476
423
231
735
677
146
277
26
1,376
867
509
2,786
259
2,816
1,549
1,267
2,605
266
1,992
1,692
300
2,859
299
1,513
1,775
-263
3,383
224
16
III
European Communities (6) 12
United Kingdom
1982
lr
1981
II
28,302
6,801
7,781
7,071
6,648
6,656
6,599
50,395
12,419
353
535
430
817
832
128
354
45
3,304
61
90
69
196
187
29
89
12
3,404
86
150
136
199
191
31
94
6
2,967
124
178
140
206
213
33
88
21
2,744
81
117
85
215
241
35
84
5
2,692
106
92
92
218
186
37
92
9
2,684
80
119
127
208
191
39
96
20
36,330
1,231
1,070
489
1,661
1,597
351
550
31
5,412
2,566
2,846
6,874
103
1,270
517
753
1,486
8
1,729
846
883
1,745
12
1,193
366
827
1,896
11
1,221
837
383
1,747
73
1,176
1,133
43
1,950
7
716
317
398
2,309
11
3,018
2,564
454
3,281
787
(*)
(*)
III
IV
11"
Line
1982
1981
I
II
III
IV
r
II"
13,046
12,528
11,287
13,533
12,518
12,766
1
9,578
234
165
93
423
438
79
131
6
9,047
343
300
124
404
417
85
134
10
8,326
317
392
186
416
261
91
140
8
9,379
337
213
86
418
481
96
144
7
9,018
321
178
101
404
456
101
150
7
9,148
303
279
92
412
444
105
154
6
2
3
4
5
6
7
8
9
10
931
425
507
766
203
647
1,050
-403
838
180
65
410
-344
858
227
1,374
680
694
819
178
645
485
160
868
269
611
1,385
-775
1,017
197
11
12
13
14
15
(*)
(*)
(*)
1
16
I
5
20
26
-19,802 -18,726
-17,980
-19,807
-24,961
-5,708
-6,508
-7,006
-5,740
-5,629
-6,761 -47,500
-10,770 - 10,544
-1,345 -1,381
-907
-380
-655
-515
-698
-647
-122
-43
-44
-45
-220
-222
-73
-84
-10,068
-1,496
-317
-595
-583
-62
-47
-228
-79
-10,862
-1,430
-958
-830
-612
-38
-48
-232
-102
-12,746
-815
-952
-1,001
-950
-247
-93
-454
-54
-2,821
-226
-122
-209
-229
-105
-22
-121
-11
-3,260
-236
-358
-340
-245
-21
-23
-114
-15
-3,745
-205
-320
-260
-248
-106
-24
-110
-20
-2,920
-148
-152
-192
-228
-16
-25
-110
-9
-2,817
-254
-84
-207
-206
4
-26
-114
-9
-3,107 -26,985
-175 -4,169
-311 -1,157
-283
-1,286
-216 -1,340
-6
-83
-27
-81
-117
-401
-24
-247
-6,360
-1,069
-159
-274
-318
-46
-21
-96
-47
-6,840
-1,028
-385
-420
-344
-6
-20
-99
-89
-6,603
-1,004
-417
-331
-350
-12
-20
-102
-44
-7,182
-1,069
-196
-261
-327
-19
-20
-103
-66
-6,820
-1,056
-220
-317
-294
-61
-21
-104
-63
-7,308
-1,084
-511
-493
-309
-26
-21
-105
-70
18
19
20
21
22
23
24
25
26
-1,199
-520
-678
-5,270
-1,182
-238
-154
-84
-1,281
-324
-238
-155
-82
-1,353
-307
-310
-53
-257
-1,368
-291
-413
-158
-255
-1,268
-259
-104
-129
25
-1,475
-338
-483
-202
-281
-1,704
-309
-3,924
- 1,754
-2,170
-2,737
-5,091
-880
-378
-502
-666
-1,318
-1,011
-419
-592
-698
-1,326
-983
-489
-495
-699
-1,284
-1,049
-468
-582
-674
-1,164
-744
-445
-299
-728
-1,078
-477
-492
15
-757
-914
27
28
29
30
31
(*)
(*)
(*)
(*)
(*)
(*)
1
32
260
83
69
67
41
73
70
364
137
85
68
74
43
44
33
_4
-73
214
-3
-73
161
-15
-93
177
-1
-102
177
-6
-100
149
-3
-96
143
34
35
36
-11,254 -12,267 -11,848 -12,131 -11,506 -12,075
17
-1,294
-543
-750
-2,094
-1,581
-1,467
-627
-840
-1,965
-1,432
-843
-575
-268
-2,227
-1,436
-963
-696
-268
-2,486
-1,246
— 16
—5
-20
-26
86
84
68
80
-15
-133
235
-1
-125
210
-6
-142
216
-3
-125
208
-62
323
-16
99
-17
86
-16
83
-14
55
-17
90
-19
89
-23
-342
729
-2,371
-7,042
-13,038
-5,857
-15,839
-3,300
-5,120
-2,953
-4,466
-9,974
-4,339
-6,357
-4,038
-658
431
-2,093
-2,930
-1,482
37
306
802
-106
173
(*)
(*)
(*)
(*)
- 1,708
-2,180
-637
306
802
-106
173
-1,708
-2,180
-637
306
802
-106
173
38
39
40
41
42
123
7
-13
-18
14
-9
19
-11
28
2
-118
-213
137
-42
-5
60
35
20
-133
-47
40
-126
-83
-75
29
-37
102
-31
33
100
31
-8
30
8
18
-6
33
-9
43
44
45
46
-4,596
369
752
-383
-46
-9,961
-796
-752
-43
185
-4,357
-859
-461
-398
-609
-4,532
-929
-476
-454
-555
-1,854
62
568
-507
-77
112
-673
-1,076
403
-33
207
758
413
344
-118
-2,997
-1,076
-382
-694
-327
-2,855
168
328
-160
-96
-1,673
1,677
902
775
-282
47
48
49
50
51
n.a.
(52
1 53
-3,068
f 54
I 55
519
56
306
802
-106
173
(*)
(*)
-18
— 114
83
13
255
-44
186
113
62
-33
96
-2
21
-69
97
-8
133
-49
174
8
13
-3
11
5
-17
-42
27
-2
7
_4
14
-3
130
-2,660
700
1,209
-509
63
-8,099
-950
317
-1,267
-475
-12,995
-736
-437
-300
98
-6,051
808
545
263
-889
-15,972
-1,478
1,368
-2,846
156
-3,313
467
1,220
-753
-109
-5,103
-2,103
-1,220
-883
63
-2,959
-210
616
-827
248
14
14
14
15
(*)
14
483
-3,906
15
-6,937
15
205
-12,561
14
n.a.
15
-5,969
15
1,445
-16,095
15
-149
-3,522
15
14
1,031
-4,094
15
14
338
-3,335
15
14
225
-5,144
15
-264
-9,086
14
n.a.
15
-2,889
15
14
426
-3,473
15
120
14
126
-1,958
15
692
2,074
6,171
8,080
7,930
9,208
4,145
-1,443
3,635
2,870
9,177
7,286
1,970
879
-833
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
72
-85
5
-48
-26
-17
-49
34
-73
68
-73
(17)
(17)
(")
(17)
(17)
(17)
(17)
(")
3,276
2,598
678
338
254
84
384
302
82
(17)
957
839
582
257
1,715
1,460
255
8,338
6,168
2,170
1,158
656
502
14
-247
(17)
2,985
2,234
750
14
14
263
60
-46
(17)
(17)
5,125
4,285
840
1,889
1,621
268
(1T)
1,100
832
268
(17)
(17)
(17)
(17)
(17)
(17)
730
457
1,121
2,095
2,855
1,030
1,431
14
- 1,370
14
720
n.a.
14
-314
"2,824
"1,898
"4,396
"4,664
"3,476
417
-1,890
2,589
-2,896
3,030
1,142
-207
-105
-120
2,228
2,676
2,761
2,761
2,253
2,301
2,376
2,369
1,576
742
825
822
-327
3,341
3,601
3,601
14
-46
14
-269
14
(")
809
834
-25
(17)
(17)
(17)
596
272
645
472
192
281
(17)
858
537
n.a.
1,135
14
- 1,134
14
(17)
(17)
1,920
601
159
"5,922 "-8,374
14
-21
14
15
-531
-1,290
14
86
15
14
82
-1,676
3,213
15
452
-3,379
-1,367
(17)
(17)
(17)
92
8
(17)
(17)
(17)
2,154
1,659
495
3,362
2,781
582
1,084
785
299
-161
(17)
1,664
1,072
592
(17)
1,005
14
98
14
15
(17)
27
(")
(17)
(17)
(17)
162
152
452
627
641
-15
(17)
1,240
189
n.a.
301
"-927 "-3,515 "-3,746
14
-207
14
(
"-186 "-3,100 "-1,374
1
57
58
59
60
61
62
63
64
65
66
67
68
69
(70
I 71
| 72
(73
"2,818 "-2,468
"1,092
"2,034
"7,235
-2,022
5,221
-815
646
-303
2,855
1,129
1,230
1,144
1,352
-2,597
3^42
227
74
75
483
1,094
1,176
1,176
144
1,273
1,343
1,343
-778
65
132
132
-176
909
950
950
-125
1,027
1,100
1,100
-423
-162
-92
-92
9,345
2,895
3,283
3,259
3,218
1,792
1,933
1,929
2,207
262
350
347
1,723
-561
-477
-493
2,197
1,403
1,477
1,477
2,198
1,012
1,061
1,055
1,840
691
738
735
76
77
78
79
September
SURVEY OF CURRENT BUSINESS
66
Table 10.—U.S. International
[Millions of
Canada
Eastern Europe
(Credits +• debits
Exports of foods and services
1981
Line
)*
2
Merchandise Adjusted excluding military 3
Transfers under US 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 incorporated affiliates
Other private receipts
US Government receipts
1982
1981
I
II
HI
Ir
IV
1981
1981
U"
n
I
1
5,317
1,771
1,072
1,040
1,435
1,804
1,208
60,449
14,935
17,008
2
3
4
5
6
7
8
9
10
4,461
1,594
877
782
1,208
1,608
1,022
45,250
119
2,624
11,153
21
746
12,991
22
697
169
24
30
66
49
33
43
22
85
4
5
20
1
5
21
1
6
22
1
6
22
2
6
23
(*)
6
23
(*)
794
980
64
512
19
172
231
16
137
2
204
247
16
121
2
100
13
4,072
2,303
1,770
5,986
29
1,080
504
576
1,375
2
1,248
372
876
1,443
11
11
12
13
14
15
452
124
102
24
110
27
118
46
-496
121
28
114
20
Transfers of goods and services under U.S. military grant programs, net
16
Imports of goods and services
17
1,810
486
-441
-388
-307
-352
-53,245
-12,660
-14,020
18
19
20
21
22
23
24
25
26
1552
-2
57
-28
105
450
-1
2
-2
26
400
-1
30
-12
-28
-367
-1
18
-12
27
-335
-1
7
-2
-25
-265
-1
-2
-288
-1
-17
-47,316
135
-2,033
-11,410
-52
-229
-12,324
-35
-521
-23
-24
-1
-10
-31
(')
-2
-6
(*)
-2
-8
(*)
-3
-8
(*)
-3
-9
'(*)
-3
7
(*)
-3
-11
-652
-269
14
-324
63
-143
51
-4
-87
-12
-168
80
-4
-81
-11
247
-184
-63
-1,995
-198
135
-71
64
-493
-42
-225
-43
182
-527
45
-193
-38
-50
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
....
..
..
27
28
29
30
31
-23
-1
-6
(*)
5
-6
(*)
-6
(*)
-31
-26
-26
g
-20
U.S. military grants of goods and services, net
32
Unilateral transfers (excluding military grants of goods and services), net....
33
U.S. Government grants (excluding military grants of goods and services) ...
34
35
36
-1
24
-91
5
-25
37
-1,044
-63
58
-23
77
4
Private remittances and other transfers
U.S. assets abroad, net (increase/capital outflow ( — ))
-116
U.S. official reserve assets, net 4.
Gold
Special drawing rights
Reserve position in the International Monetary Fund
Foreign currencies.....
38
39
40
41
42
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.o. foreign currency holdings and U.S. short-term assets, net
43
44
45
46
-182
-489
346
-39
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
47
48
49
50
51
862
Foreign assets in the United States net (increase/capital inflow ( + ))
Foreign official assets in the United States, net . . .
U S Government securitiess
U.S. Treasury securities
Other 7
Other U S Government liabilities 8
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 9
Other foreign assets in the United States net
Direct investment
FjOuity 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. liabilities reported by U.S. banks, not included elsewhere:
Long-term
-33
50
-39
-1
g
-26
-4
76
-23
-6
g
-25
216
23
-47
9
-53
3
-578
414
-90
-8,359
-2,639
-1,567
11
-17
32
-4
-118
-281
180
-18
-133
-168
57
-22
-6
-22
24
-9
28
-2
26
4
-38
-107
60
10
-51
-51
9
-8
11
-21
20
11
196
100
-445
420
-8,321
616
2,385
-1,770
3698
-2,589
-507
69
-576
-26
1577
95
972
-876
1 168
-1,690
14
-118
1
(*)
52
53
14
54
55
15
56
76
S
59
] „
60
61
62 V
63
14
13
-134
15
36
(17)
(17)
(*)
(M)
14
11
15
(")
13
(17)
C)
(')
(17)
(17)
129
454
-102
(17)
(17)
(')
(*)
(17)
(17)
15
145
(17)
(*)
(17)
?!
3j
17
3
-33
-2,424
1,152
Memoranda:
Balance on merchandise trade Gines 2 and 18)
Balance on goods and services (lines 1 and 17) 10
Balance on goods, services, and remittances (lines 77, 35, and 36) ,
Balance on current account (lines 77 and 33) 10
76
77
78
79
2,909
3,507
3,392
3,392
1,144
1,275
1,245
1,245
(17)
14
-13
17
-23
-338
477
586
559
559
(17)
(17)
-2
(*)
C)
14
-«
(17)
(17)
-2
"2
"11
-369
415
600
574
574
14
19
14
(17)
1
1,343
1,497
1,550
1,546
734
856
823
816
3,192
98
192
(16)
(16)
,,
3,043
1,656
1,593
63
-520
431
367
64
3,384
830
648
182
(16)
"371
-871
-619
-4
n.a.
-1,858
-1,001
(16)
-14
-565
15
27
1,034
"145
-366
497
(16)
(*)
" — 110
873
1,047
1,015
1,015
3,836
793
<->
-48
22
"111
14
15
J
6768 zzz.z:::
(")
-1,063
117
gE
66
69
14
n.a.
-25
-207
-30
74
75
-8
-218
-185
-121
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
See footnotes on page 63.
6
-20
-6
(16)
(16)
246
14
39
790
14
-120
(16)
(16)
-2,489'
1,020
-4,563
-2,066
7,204
7,011
7,011
257
2,276
2,238
2,238
667
2,988
2,937
2,937
(16)
September
SURVEY OF CURRENT BUSINESS
67
Transactions, by Area—Continued
dollars]
Canada
Latin American Republics and Other Western Hemisphere
1982
1981
in
1981
1981
1982
Japan
1981
n
ra
IV
Ir
IP
19,405
20,120
20,177
20,110
18,206
19,995
10,765
12
1,136
113
406
153
30
379
15
11,313
13
1,188
149
404
151
32
375
17
10,218
18
1,655
202
396
156
34
381
19
10,508
15
1,431
136
401
209
36
403
15
8,730
18
1,405
* 129
383
136
38
432
13
9,383
39
1,122
170
344
120
39
443
20
1,608
673
935
4,691
99
1,310
498
812
5,088
80
1,388
558
830
5,594
116
9
1,539
863
677
5,325
92
9
584
515
69
6,244
95
1,159
508
651
7,066
90
-9,654
-46
-992
-90
-282
-9
-3
-358
-72
-9,520
-64
-1,182
-110
-290
-9
-3
-362
-77
-9,786
-124
-1,051
-59
-268
-14
-3
-383
-77
-244
-99
-145
-2,417
-75
-216
-165
-52
-2,748
-75
-298
-157
-141
-2,434
-59
1981
n
ra
32,019
8,135
7,926
7,749
21,796
383
865
512
1,596
413
379
176
16
5,599
70
225
128
395
109
93
43
2
5,204
172
200
148
393
130
94
43
7
934
526
408
4,771
179
_1
295
181
114
1,115
62
275
36
239
1,234
27
-9,207
-85
-1,353
-101
-243
-11
-3
-391
-71
-9,262 -37,598
-72 -1,107
-1,183
-214
-106
-189
-267 -1,939
-11
84
-3
-39
-392
-89
-87
-60
-8,550
-263
-39
-41
-471
28
-8
-23
-12
-9,416
-288
-75
-58
-501
16
-10
-22
-22
-198
-98
-100
-3,312
-65
-177
-111
-66
-3,806
-53
-89
-6
-83
-231
-666
-216
-28
-188
-259
-768
-251
-14
-237
-271
-809
(*)
-81
-22
-14
—93
-54
-145
-26
-55
-9
-13
-8,793 -26,391 -13,793 -17,219
-6,801
-200
-82
-200
-136
—436
300
(*)
-16,883
2,341
2,993
-651
342
8,209
7,803
7,557
1
5,169
82
251
115
402
91
95
44
2
5,824
60
189
121
406
83
97
46
5
5,199
104
248
139
400
73
98
48
2
5,068
103
230
176
398
75
99
49
5
2
3
4
5
6
7
8
9
10
128
219
-91
1,322
48
237
91
146
1,100
42
327
102
225
1,118
46
141
27
115
1,174
39
11
12
13
14
15
2
6
17
25
23
(*)
(*)
(*)
(*)
-58,300 -14,848 -14,242 -14,655 -14,555 -15,039 -15,419 -46,050 -10,365 -11,618 -11,820 -12,248 -11,980 -11,929
16
-39,099 -10,139
-324
-90
-4,540 -1,315
-94
-353
-257
-1,096
-41
-9
-11
-3
-358
-1,461
-294
-69
IP
14,431
14,075
13,303
14,333
79,813
10,592
27
682
10,514
49
499
9,822
23
783
10,614
28
682
195
250
16
123
11
223
252
16
125
3
186
241
17
132
1
191
249
17
129
2
42,804
57
5,410
600
1,608
669
131
1,539
66
935
584
351
1,596
5
810
843
-34
1,573
12
447
569
-122
1,647
5
652
424
228
1,757
12
5,845
2,591
3,254
20,698
388
-13,177 -13,388
-12,770
-14,279
-11,192 -12,390
-16
-32
-314
-969
-11,540
-40
-217
-12,683
-39
-525
-174
-59
-3
-79
-31
-167
-79
-3
-77
-9
-132
-85
-4
-81
-14
-171
-61
-4
-81
-14
-53
-23
-29
-541
-45
165
-47
212
-433
-66
-100
-26
-74
-481
-77
-141
-74
-67
-497
-63
-1,013
-526
-486
-9,774
-296
—25
—2
-6
-9
—9
-17
-23
1
-^57
-48
-53
-56
-1,206
-284
-306
-311
-306
-272
-291
OQO
— 101
-58
-146
— 107
-64
-139
-93
-63
-149
—90
-65
-117
-3,696
-253
-106
-148
-2,175
-86
-59
2
-58
9
-56
3
-54
-1
-236
-577
—91
-51
-143
-2,872
-1,280
20
-990
-44,663
-5,784
-2
— 10
8
4
(*)
— 26
24
3
-41
58
8
10
-25
—25
24
-23
-512
1 659
1,169
-22
-50
323
274
-1
-165
439
283
-9
-2,875
-57
294
-351
-1,255
-1,281
1,084
1,051
34
-1,249
61
2,145
2,022
122
-894
-966
264
491
-228
125
-44,151
58
3,312
-3,254
27
-5,734
-543
392
-935
39
-3,532
241
1,053
-812
56
1,569
n.a.
133
15
- 1,696
14
"-3
15
- 1,113
14
15
- 2,759
15
- 1,354
14
-241
15
- 43,995
31,410
319
943
-1,203
816
132
951
-750
-58 1
(16)
(16)
(16)
(16)
14
-85
6
21
(16)
(16)
(16)
(16)
187
83
54
29
-8
313
525
-212
-453
-1,186
-1,260
74
874
83
16
67
-945
15
- 4,235
-1,439
(")
J
14
14
86
J „
1,307
821
486
15
- 4,552
4,590
-7,053
1,356
-301
703
176
-600
1,254
1,197
1,197
-1,876
687
639
639
-1,718
533
480
480
-2,069
54
-2
-2
3,705
21,513
20,699
20,306 1
18,127
13,328
11,920
33
-4
-10
-6
-18
-7
-14
-7
-41
(*)
-12
34
35
36
-3,207
-2,251
2,074
-3,417
534
-912
37
3
-19
-33
-34
-30
-39
-82
3
-19
-33
-34
30
-39
38
39
40
41
42
-69
— 141
72
-1
-24
—42
18
(*)
-2,208
-118
120
-239
-53
5
— 14
18
(*)
2,102
206
115
91
462
-14
—32
19
-1
12
— 16
27
1
27
26
(')
43
44
45
46
-6,650
-506
-98
-408
35
-36
— 53
17
(*)
-3,175
-281
-167
-114
-309
-3,369
-313
-167
-146
-65
553
-238
-13
-225
162
-900
352
467
-115
-74
47
48
49
50
51
14
14
n.a.
(52
(53
- 1,178
[54
(55
-356
15
- 5,823
8,522
14
-263
15
- 2,321
3,170
,14103
169
15
- 2,206
1,650
15
1,330
2,169
673
437
237
787
620
167
146
114
32
740
638
102
(17)
(17)
(17)
(17)
(17)
171
107
57
104
-55
64
65
66
67
68
69
-355
n.a.
|70
|71
"1,783 "-3,077
ITS
(17)
(17)
(17)
(17)
(17)
(17),
(17)
(17)
430
282
148
331
185
145
245
193
52
302
160
141
93
-7
100
310
244
66
2,662
1,988
675
224
141
83
978
791
188
(17)
(17)
(17)
(17)
(17)
(17)
36
12
166
292
-42
-85
"-394
n.a.
159
14
ir
- 2,672
2,949
626
4,557
4,364
4,273 1
"4,043 "10,563 "17,865 "13,600 "11,309
97
(
(
(17)
(17)
14
56
57
58
59
60
61
62
63
(17)
83
14
-2,206
(17)
55
-461
1,513
15
(17)
-113
14
552
187
26
14
1,532
15
-165
134
14
- 2,626
77
1
17
653
14
-365
(17)
9
-231
14
15
32
(*)
(17)
15
(17)
"29,799
10,132
-12
55
146
(16)
- 9,299 15- 25,859 15- 15,686 15- 19,566
15
-48
7
(17)
(ie)
n.a.
(*)
-20
(17)
145
(16|
1,340
(*)
-24
(17)
97
(ie>
14
27
28
29
30
31
(17)
(17)
14
-370
-158
-57
-102
-349
—111
(17)
81
122
14
-56
-24
-32
-295
-812
(17)
(16)
14
351
-213
-46
-167
-275
-854
-768
-93
-675
-1,035
-3,096
(17)
(16)
n.a.
14
18
19
20
21
22
23
24
25
26
(17)
-70
-93
-8,682 -26,204 -13,617
224
136
486
813
555
1,054
-830
-677
-69
242
43
-111
-9,647
-352
-107
65
-449
36
-11
-25
-24
(17)
(16)
14
-176
—439
253
10
17
-9,993
-270
-47
53
-418
16
-11
-24
-17
(17)
-97
234
-187
464
287
-11
IV
-9,587 -10,045
-260
-296
-57
-43
60
30
-502
-465
21
19
-11
-11
-22
-22
-11
-14
(17)
95
14
-111
433
325
-2
723
(16)
218
Line
I"
I'
14
1982
I
lr
I
IV
14
26
(17)
14
14
-130
166
"5,382
"3,005
"420
"1,436
"521
14
172
-6,466
-6,551
3,014
-2,429
1,014
12,392
2,290
4308
-149
5,943
2,177
7,502
74
75
1,659
5,878
5,674
5,572
698
5,522
5,319
5,212
722
5,555
5,343
5,249
-477
3,167
2,984
2,895
121
4,577
4,378
4,286
-15,802
-14,031
-14,112
-14,112
-2,951
-2,230
-2,253
-2,253
-4,212
-3,692
-3,706
-3,706
-4,418
-4,071
-4,094
-4,094
-4,221
-4,038
-4,059
-4,059
-4,794
-4,177
-4,225
-4,225
-4,579
-4,372
-4,384
-4,384
76
77
78
79
SURVEY OF CURRENT BUSINESS
68
September
Table 10.—U.S. International
[Millions
Australia, New Zealand, and South Africa
(Credits +; debits -) 1
Line
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 unicorporated affiliates
Reinvested earnings of incorporated affiliates
Other private receipts
U S Government receipts
•••
••••
••
1982
1981
I
m
II
lr
IV
II*
1
13,491
3,178
3,621
3,243
3,448
2,923
3,194
2
3
4.
5
6
7
8
9
10
8,998
371
320
216
382
377
71
267
3
1,983
194
67
44
95
84
17
65
2,495
39
105
56
93
90
17
67
1
2,233
105
87
62
102
95
18
68
(*)
2,287
34
61
54
93
108
19
68
2
2,022
35
66
36
89
82
20
67
1
2,245
35
107
47
95
90
20
68
(*)
11
12
13
14
15
1,910
1,038
872
558
18
529
266
263
99
3
499
295
204
154
5
340
222
118
131
3
542
255
287
175
6
361
245
116
141
4
279
300
21
201
8
1 477
1 483
Transfers of goods and services under U.S. military grant programs, net
16
Imports of goods and services
17
6,913
1,748
1702
-1,669
-1,794
18
19
20
21
22
23
24
25
26
-5,608
-48
-351
224
-292
1
1
-38
-38
-1,396
12
-135
-54
67
1
(*)
9
-7
-1,434
12
-40
-50
75
-1
(*)
9
-9
-1,336
-13
62
-67
-78
1
(*)
-10
10
1442
-10
-114
53
-71
(*)
(*)
-10
12
-1,135
7
-139
-55
64
(*)
(*)
-10
-8
1 192
-15
-40
61
-68
-1
(*)
-10
-7
27
28
29
30
31
-48
-43
6
-107
-159
13
-9
4
-26
-28
5
-10
15
-25
-51
-13
5
-8
28
-53
-26
18
-8
-28
-27
3
-6
3
-28
-29
26
3
24
-31
84
16
15
-16
-17
-17
4
(*)
3
-13
(')
-4
13
(*)
-4
13
-668
-597
Merchandise adjusted excluding military 3
Travel
Other transportation
Fees and royalties to affiliated foreigners
Fees and royalties to unaffiliated foreigners
Private payments for other services
US Government payments for miscellaneous services
Payments of income on foreign assets in the United States:
Direct investment
•• •
,
Reinvested earnings of incorporated affiliates
Other private payments
U S Government payments
U S military grants of goods and services, net
....
32
...
Unilateral transfers (excluding military grants of goods and services), net
33
59
13
US. Government grants (excluding military grants of goods and services)
U S Government pensions and other transfers
Private remittances and other transfers
34
35
36
(*)
-14
-45
(*)
3
-10
-11
(*)
4
-11
37
2,128
-327
-514
578
711
25
40
20
-21
10
-14
-11
5
34
-27
18
11
-685
-20
267
287
7
628
577
-274
-158
-116
-18
-237
-257
21
2
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
38
39
40
41
42
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
43
44
45
46
-79
-97
33
-15
2
-9
8
4
1
-9
10
(*)
-57
-58
6
-5
47
48
49
50
51
2,050
-964
92
872
27
-329
-399
137
-514
-356
152
521
-189
70
263
-46
46
U S private assets net
.
Direct investment
Equity and intercompany accounts
Reinvested earnings of incorporated affiliates
..
....
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 ...
Foreign assets in the United States, net (increase/capital inflow ( + ))
52
53 [
54
55 [
56
Foreign official assets in the United States, net
U S Government securities6
U S Treasury securities
Other 7
Other US Government liabilities 8
U S liabilities reported by U9 S banks not included elsewhere
Other foreign official assets
57
58
59
60
61 ^
62
63
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. liabilities reported by U.S. banks, not included elsewhere:
Long-term
...
Short-term
64
65
66
67
68
69
70
71
72
73 |
14
14
-56
15
204
15
15
118
-35
14
18
14
-53
15
14
15
15
40
n.a.
-186
15
315
317
1,030
-1,216
184
203
2,674
(17)
(17)
(17)
(17)
(17)
(17)
(17)
- 1,002
116
-115
-245
-687
-376
15
-338
-37
-105
-31
21
45
(17)
(17)
(17)
(17)
(17)
(17)
(17)
283
277
6
44
40
4
6
21
-15
56
48
8
8
32
-24
(17)
(17)
(17)
(17)
(17)
5
8
-3
(17)
(17)
11
-35
-2
13
43
36
14
-29
n.a.
-288
-46
14
64
17
3
14
14
16
17
177
169
8
17
21
14
-10
17
14
17
17
302
"369
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign reversed)
74
75
-4,705
-1,408
-2,420
234
-1,112
-965
-3,771
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) 10
76
77
78
79
3,390
6,578
6,519
6,519
587
1,431
1,418
1,418
1,061
1,918
1,903
1,903
897
1,575
1,560
1,560
845
1,655
1,639
1,638
887
1,446
1,429
1,429
1,053
1,711
1,694
1,694
See footnotes on page 63.
1,037
-1,274
170
194
2,578
SURVEY OF CURRENT BUSINESS
September
69
Transactions, by Area—Continued—Continued
of dollars]
International organizations and unallocated 13
Other countries in Asia and Africa
1982
1981
III
lr
IV
1981
IP
1982
I
II
73,122
18,156
18,759
18,103
18,104
18,830
19,709
2,942
47,832
6,036
797
485
2,366
661
129
1,318
216
12,099
1,356
180
89
585
146
31
319
39
12,378
1,399
195
106
637
183
32
328
49
11,405
1,745
283
196
615
160
33
331
79
11,950
1,536
139
94
530
173
34
340
49
12,079
2,038
200
93
608
139
35
350
40
12,375
2,461
203
96
648
114
36
357
65
23
1,395
-268
355
-95
336
-64
352
-55
729
4
167
(*)
176
1
6,439
5,001
1,438
5,247
1,596
1,793
1,368
425
1,215
306
1,744
1,351
393
1,285
424
1,463
1,193
270
1,412
382
1,439
1,089
350
1,335
486
1,546
1,161
385
1,284
417
1,526
1,204
321
1,395
434
799
187
612
347
87
192
24
168
118
16
215
21
195
57
133
451
166
164
94
27
36
50
-95,295
-24,532
-24,857
-22,875
-23,032
-21,409
-19,145
-80,097
3 188
-1,142
-287
-1,639
343
-5
-311
-486
21,053
-784
-249
-60
-393
73
-1
-71
-116
20960
-828
-287
-60
-422
89
-1
-76
-128
-18,986
-798
-288
-80
-423
94
-1
-81
-122
-19,098
-778
-318
-87
-402
86
-1
-83
-120
-17,277
-794
-302
-77
-372
98
-1
-85
-119
-14,678
-807
-391
-75
-394
88
-1
-86
-146
-171
-175
5
-3,558
-4,755
-38
-37
1
-850
-992
-48
-49
1
-911
-1,224
-59
-48
11
-920
-1,212
-26
-42
16
-877
-1,326
-94
-50
44
-894
-1,491
-57
-66
10
-1,001
-1,599
I
II
753
IV
III
587
794
807
Line
IP
I'
871
836
1
37
7
353
-53
338
-52
350
-23
187
2
199
1
212
1
222
1
2
3
4
5
6
7
8
9
10
163
43
120
116
30
229
99
130
55
161
43
118
115
58
139
70
69
137
4
11
12
13
14
15
23
16
-3,567
-912
-829
-811
-1,015
-859
-840
17
-23
-62
-2,311
-19
-585
-10
-605
-16
-587
-17
-535
-19
-490
-10
-509
-1
-478
(*)
-130
(*)
-87
(*)
-37
(')
-224
(*)
-101
(*)
-52
18
19
20
21
22
23
24
25
26
27
28
29
30
31
-105
-611
-28
-150
-25
-102
-19
-152
-33
-206
-32
-217
-51
-194
32
451
-166
164
94
-27
36
-50
-4,200
-935
-912
-1,114
-1,239
-1,384
-1,119
-789
-193
-206
-246
-144
-164
-166
33
-3,151
-299
-751
-669
77
-189
-681
60
-171
-873
80
-162
-929
81
-229
-1,068
78
-239
-812
85
-223
-778
-193
-195
-246
-144
-164
-146
-20
34
35
36
-12,811
-458
-5,802
-2,612
-3,939
-3,946
-6,331
-6,159
-2,187
-1,135
-1,255
-1,582
-678
-1,520
37
4314
2148
803
872
-492
-947
-1,055
-1,824
2491
-1,441
707
-23
780
-225
647
134
-358
400
-547
241
-814
38
39
40
41
42
-11
-11
-3,357
-5,207
1,592
258
-1,204
-1,668
330
135
-770
-1,215
426
20
-806
-1,193
335
52
-577
-1,130
502
51
-507
-840
347
-14
-1,147
-1,554
365
42
-826
-831
5
-136
-139
3
-248
-248
-186
-187
2
-257
-257
-166
-169
3
-207
-229
22
43
44
45
46
-9,454
-3,136
-1,698
-1,438
-254
745
-381
44
-425
-40
-5,032
-1,837
-1,444
-393
-120
-1,806
-868
-597
-270
-16
-3,362
-51
299
-350
-79
-3,439
-2,161
-1,776
-385
-298
-5,184
-794
-472
-321
-79
-1,019
-171
442
-612
-888
97
21
189
-168
66
-84
-90
105
-195
2
-197
-241
-121
-120
17
-834
138
268
-130
-972
435
369
487
-118
65
-258
-113
-44
-69
-143
47
48
49
50
51
14
"-262
»5- 5,802
15
16
1,150
14
-128
15
- 2,947
3,086
19,292
(17)
(17)
310
123
(17)
(17)
2,989
2,994
-5
82
81
1
5,580
u
14
-90
15
-833
3,765
14
-60
15
- 3,172
15
- 1,623
6,862
3,516
- 4,312
is 40
5,345
1,670
15
(17)
(17)
21
37
130
80
180
(17)
(17)
(17)
(17)
(17).
68
69
I
190
180
11
2,649
2,665
-16
107
63
44
268
277
-10
(17)
(17)
14
n.a.
642
15
10
15
3
15
1
27
(*)
(*)
f
n.a. 1
52
53
f
-2 (
54
55
15
-406
2,023
-674
1,483
56
14
6
8
-9
26
14
6
8
-9
26
57
58
59
60
61
62
63
2,015
-665
1,457
-51
104
(")
1,656
-51
104
-412
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
(17)
362
156
135
98
-26
51
122
63
24
53
2
-16
25
84
781
n.a.
u 706
f
n.a. 1
f
"1,373 {
64
65
66
67
68
69
70
u
u
14
"16,337
"2,985
"5,619
"3,824
"3,909
"4,060
"5,135
"1,593
"-75
"51
"-414
"2,031
"-689
19,893
4,684
7,231
4,734
3,244
4,393
1,542
1,093
4,810
1,093
1,496
1,479
1,924
-89
1,504
206
74
75
-8,582
-6,098
-6,329
-7,010
-7,581
-4,772
-5,014
-5,887
-7,148
-4,928
-5,238
-6,167
-5,198
-2,579
-2,896
-3,963
2303
564
257
-555
23
-626
-637
-1,415
-159
-159
-352
-241
-253
-447
-17
-17
-263
23
-208
-208
-352
12
12
-153
-23
-4
-23
-169
76
77
78
79
-32,265
-22,174
-23,223
-26,374
-260
8 954
-6,376
-6,642
-7,311
-263
384
14
200
14
71
72
73
70
in December, U.S. banks' foreign
branches have accepted more funds
from U.S. residents, much of which
was then lent to the parent banks'
IBF's (IBF's may not deal directly
with U.S. residents except their
parent banks and other IBF's).
Branch borrowing from U.S. residents
increased $10.5 billion in the first
quarter and $9.9 billion in the second;
branch claims on the United States
increased $12.2 billion and $7.7 billion, respectively, mainly on their
parent bank. Banks' own liabilities to
unaffiliated foreigners increased $13.3
SURVEY OF CURRENT BUSINESS
billion, as IBF's accepted deposits
mainly from Latin America (particularly Venezuela), the Caribbean, and
Europe.
Net foreign purchases of securities
other than U.S. Treasury securities
were $2.5 billion, compared with $1.4
billion, largely due to purchases of
U.S. corporate bonds. High U.S. interest rates spurred heavy purchases
from Western Europe, especially Germany. Foreign purchases of U.S.
stocks increased $0.1 billion to $0.8
billion, with continued large purchases from the United Kingdom.
September
Foreign direct investment in the
United States increased to $2.7 billion
from $1.2 billion, but remained below
the unusually high quarterly inflows
in 1981. The increase was more than
accounted for by equity and intercompany account inflows. There was a
shift to small inflows from Canada, in
contrast to large outflows in the first
quarter associated with a special
transaction. Inflows from Japan increased; inflows from Western Europe
decreased, especially from the United
Kingdom. Reinvested earnings were
unchanged at $0.5 billion.
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BUSINESS. That volume (available from the Superintendent of Documents for $9.50, stock no. 003-010-00089-9) provides a description of each series, references to
sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1975 through 1978, annually, 1947-78; for selected series, monthly
or quarterly, 1947-78 (where available).
The sources of the series are given in the 1979 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, and are also listed
alphabetically on pages 171-172. Series originating in Government agencies are not copyrighted and may be reprinted freely. Series from private sources are
provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated in footnotes below, data
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in the 1979 edition of BUSINESS STATISTICS
1981
1980
1982
1981
Annual
July
Sept.
Aug.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE f
Seasonally adjusted, at annual rates: t
Total personal income
2 535 5 r2 556 2
2 601 0
1,542.6
512.2
384 1
3714
1,546.6
511.6
3839
3725
1,573.3
511.5
385 0
3794
357 0
295.4
1480
360 1
296.4
149 1
361 4
297.6
1502
363 7
298.8
151 3
368 5
300.0
1525
r
r
374
r
3
304.6
1546
378 8
303.6
1557
228
995
199
98 6
173
98 4
163
988
169
99 3
173
100 3
180
1002
182
100 7
184
101 2
336
336
65 4
652
352 1
351 1
353 6
351 5
106.8
107.2
2 444 6 2 444 6
337
65 6
3555
352 4
110.3
2 448 6
339
65 9
3598
353 8
110.9
24655
345
343
342
34 1
340
659
66 1
66 2
66 1
66 6
3638
379
9
3760
3680 r 3720
r
364 8 r366 9
357 5
379 8
363 9
110.6 r 110.8 r 111.6 r 111.7 r 112.4
2 470 8 2 486 8 2 506 9 2 516 0 2 541 6
346
67 3
382 5
380 7
112.6
2 549 6
2 499 1
389.9
2,109.2
1 965 8
1,907.4
2347
746 0
9267
2 513 8 2 518 6 r2r 535 5 r2r 556 2
396.3
403.7
389.1
'394.2
2,117.5 2,124.4 rr2,146.3 r2,152.5
1 9869 1 981 1 r l 993 9 r2 013 1
1,928.3 1,922.4 l,934.8 1>54.0
2388
240 1
2388 r245 6
745 4
759 2
747 0
755 9
9382 r949 1 r949 1
9323
2 436 3
2 459 6
2 499 0
2 497 6
1,493.9
510.8
3864
361 4
1,501.3
517.3
3919
3633
1,513.6
520.2
3937
3667
2 478 6
1,522.1
520.2
393 1
3696
2 487 2
1,356.1
468.0
3544
330.5
1,528.9
520.4
392 1
3677
1,534.2
518.7
3894
369.3
1,530.5
514.0
3847
3678
Service industries
Govt. and govt. enterprises
Other labor income
Proprietors' income: $
Farm
Nonfarm
..
do
do....
do....
2974
260.2
127.2
3386
283.1
140.4
3386
282.1
140.9
3439
282.8
1422
345 8
286.5
1435
349 7
291.1
1447
353 8
292.5
1458
355 0
293.6
1469
do....
do
19.4
969
240
1007
26 1
1005
282
100 4
272
100 3
263
99 0
247
100 1
bil. $..
do
do....
do
do....
. do..
32.9
559
263.4
2972
88.7
2 1173
339
625
3290
3363
104.9
2364 1
334
334
642
636
3400
332 1
3439
344 1
106.2
105.6
23822 24030
339
647
3469
346 5
106.3
24227
336
65 0
3497
347 1
107.0
24318
2 1604
336.3
1,824.1
1 717.9
1,667.2
214.3
6704
782.5
24158
386.7
2,029.1
18989
1,843.2
2346
7345
874 1
24363 2 459 6 2 478 6 2 487 2
401.1
399.0
394.3
391.2
2,042.0 2,060.6 2,077.5 2,096.0
19056 1 9327 19387 1 9302
1,849.5 1,875.9 1,881.2 1,872.1
2339
241 1
2487
228 1
742 7
746 4
741 7
7356
8799
8855
8937
901 3
...
Rental income of persons with capital
consumption adjustment
Dividends
.
.
Personal interest income
Transfer payments
Less: Personal contrib. for social insur
Total nonfarm income
..
r
2 566 3 r2 592 5
1,560.4 1,562.9
1,570.6
r
515.1
514.1 rr514.1
r
3864
386 6
3867
r
3768 r 3776
3769
2 518 6
2 415 8
do....
do....
do .
do....
bil $
r
2 499 1 2 513 8
1,535.7 1,546.6
517.1
513.5
3876
3837
3730
3697
2 1604
Wage and salary disbursements, total
Commodity -producing industries, total....
Manufacturing
.
Distributive industries
370 7
301.2
1536
DISPOSITION OF PERSONAL INCOME *
Seasonally adjusted, at annual rates:
Total personal income
Less: Personal tax and nontax payments
Equals: Disposable personal income
Less: Personal outlays
Personal consumption expenditures
Durable goods
Nondurable goods
....
Services
Interest paid by consumers to
business
Personal transfer payments to
foreigners (net) .
...
bil $
do....
do....
do....
do....
do....
do
do....
do....
do
Equals' personal saving
do
Personal saving as percentage of disposable
personal income §
.
percent
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
expenditures
index, 1972—100..
49.9
2 499 0
393.9
2,105.1
1 943 3
1,885.1
2307
745 9
9085
2 497 6
394.7
2,103.0
19547
1,896.4
230 1
751 0
9153
2 566 3 r2r 592 5
393.7
r
2,198.8
2 014 4 r2 033 1
1,954.7
1,973.4
r
237 8 rr238 0
766 8
758
9
r
r
9580
9686
r
r
410.7
r
2,155.6
r
55 1
555
56 1
569
574
575
576
57 7
577
579
58 2
583
588
08
06
07
06
06
06
07
07
08
08
09
09
09
09
1062
1302
1364
1279
138 8
165 8
161 8
148 3
143 4
130 6
143 3
152 4
139 4
58
64
63
65
69
74
76
72
67
66
67
68
1,018.0
1,043.1
1,046.1
1,050.1
1,050.1
1,054.1
1,053.0
1,048.6
1,042.9
1,047.7
930.5
137.1
355 8
4376
947.7
140.0
362 4
4452
947.5
138.8
361 9
446 8
956.0
146.7
363 6
445 7
950.8
141.1
363 5
446 2
941.5
133.6
361 5
446 4
943.0
134.8
362 7
445 5
945.6
133.9
365 1
446 7
943.1
135.4
359 5
448 2
954.1
139.0
365 5
449 6
950.1
138.0
361 4
450 7
1792
1945
1952
1962
1978
198 8
1999
2005
202 2
202 1
2023
147.0
151.0
151.0
155.4
155.8
152.4
146.4
139.1
136.6
142.7
142.0
r
2 601 0
397.0
2,204.0
2 048 0
1,987.9
236 5
771 4
980 0
589
r
59 3
O8
08
141 2
165 6
156 0
rg 9
71
1,050.0 1,057.6 1,058.1 1,048.8
1,062.8
r
r
67
953.4
137.7
362 7
453 0
r
960.5
141.5
367 8
r
451 2
r
951.0
135.8
r
362 9
r
452 3
953.9
135.8
364 8
453 3
202 9
r
r
206 9
139.4
138.5
141.6
P
e
203 4
205 5
INDUSTRIAL PRODUCTION
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
1967=100..
By industry groupings:
Mining and utilities
136.3
!39.7
do....
149.5
155.0
161.4
164.1
156.8
152.5
152.0
155.2
164.3
159.7
152.7
146.7
142.4
143.8
146.4
148.6
do.
do
do....
1467
161 2
136.7
1504
164 8
140.5
1495
163 9
139.5
1543
172 2
142.0
1555
173 4
143.1
152 4
169 3
140.7
145 6
161 0
134.9
137 0
149 4
128.4
133 1
147 1
123.4
140 7
156 6
129.7
140 7
156 6
129.7
138 4
154 7
127.1
138 0
154 5
126.6
141 4
159 5
128.8
P
134 8
P
153 0
P
e
!38
e
Total index
do....
147.0
151.0
153.9
153.6
151.6
149.1
146.3
143.4
140.7
142.9
141.7
140.2
139.2
138.5
P
138.0
By market groupings:
Products, total
Final products
Consumer goods
do.
do....
do....
1467
145.3
1454
141 8
141.9
144 6
P
142 0
P
142.0
P
e
Manufacturing
Nondurable manufactures
Durable manufactures
122.2
3'
!60 1
123.2
Seasonally Adjusted
See footnotes at end of tables.
1506
149.5
1479
1530
152.1
1507
1526
151.5
1496
151 0
150.0
1478
149 4
148.9
1465
147 5
147.2
144 0
1462
146.3
1420
142 9
142.8
1396
144 6
144.1
141 8
143 7
143.3
141 5
142 9
142.6
142 1
142 3
142.2
143 6
138.7
145 7
!40 9
140.6
e
!44 0
S-l
S-2
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1982
1981
July
Annual
September 1982
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION— Continued
Seasonally Adjusted— Continued
By market groupings—Continued
Final products—Continued
Durable consumer goods
Automotive products
Autos and utility vehicles
Autos
1967 — 100
do....
do....
do....
Home goods
Nondurable consumer goods
Clothing
.
Consumer staples
Consumer foods and tobacco
Nonfood staples
Equipment
Business equipment
Industrial equipment #
Building and mining equip
Manufacturing equipment
Commercial, transit, farm eq. #
Commercial equipment
Transit equipment
Defense and space equipment
Intermediate products
Construction supplies
Business supplies
Materials
Durable goods materials
Nondurable goods materials
Energy materials
.
By industry groupings:
Mining and utilities
Mining
Metal mining
Coal
.
Oil and gas extraction #
Crude oil
Natural gas
Stone and earth minerals
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
BUSINESS SALES
Mfg. and trade sales (unadj.), total $
do
do
do.
do
do....
do....
do
do...
do
do....
do....
do....
do.
do....
do....
do....
do
do....
do....
do
do....
do....
do
do....
do....
do. .
do....
. do
do....
do
do
do....
do....
do....
do
. . . do
do....
.
do
do....
do
do....
do
do....
do
do
do....
do
do..
do....
do....
do.
do
do....
do....
do
do....
do
do
1367
132.8
110.1
103.6
1405
137.9
111.2
103.4
146 5
147.6
123.0
118.1
142 5
137.6
107.8
104.0
140 4
139.1
110.0
103.3
136 3
132.8
101.7
92.5
129 7
121.7
88.9
81.1
123 2
119.2
87.5
78.1
120 1
109.2
71.6
61.3
125 9
117.5
82.0
70.5
128 1
125.0
93.6
79.8
1307
129.9
100.5
87.2
r
!326
r
1352
143.3
117.1
101.9
1389
1420
1458
1453
141 1
1382
134 1
1254
1263
1306
1299
131 1
r
1307
!38.9
111.8
96.1
!29 1
P
137
P
7
150.9
"127.7
P
114.6
P
1304
e
!32 6
e
e
!299
!486
1489
1260
1552
147.4
164.3
1509
1198
1595
150.3
170.0
1523
1228
1605
150.5
172.2
1525
1219
1610
150.6
173.0
1508
1193
1595
149.5
171.1
1505
1178
159 6
150.7
169.9
1497
116 1
1590
150.4
169.1
1495
1138
1594
150.9
169.3
147 4
148 1
1468
1466
1479
1484
P
1489
e
1589
150.0
169.1
1592
151.1
168.7
158 1
149.6
168.0
1583
148.1
170.0
1590
149.9
169.5
1596
150.9
169.7
P
1596
P
150.5
P
e
1452
173.2
1565
239.9
128.2
1518
181.1
1664
286.2
127.9
154 1
1848
1694
290.3
130.8
1540
1844
1702
293.0
130.8
1529
1827
1689
293.6
129.3
152 1
1805
1669
295.6
125.7
151 5
1790
165 1
293.8
123.6
152 1
1790
1640
294.6
122.0
1472
1722
158 1
289.0
116.9
1473
1716
1559
274.9
116.8
1459
169.0
151 2
256.9
116.3
1434
164.9
1459
242.2
114.0
1404
1599
1389
r
224.4
109.7
1383
1564
1340
r
209.0
107.5
192.4
237.8
139.9
202.5
2637
128.4
198.5
2642
121.0
195.0
2606
116.6
105.3
1487
130 1
167 1
107.2
143.7
1236
163.7
107.7
142.6
1222
162.8
107.9
141.1
1230
159.1
152.5
1504
175.5
1289
148.5
1456
170.6
128.3
144.6
1410
164.7
128 1
137.2
1297
156.8
1309
189.5
257.8
110.5
107.0
145.2
1256
164.6
138.5
1307
162.0
128.2
182.2
r
246.1
108.3
155.2
1543
175.4
132.6
189.9
2564
110.4
106.5
146.3
1275
165.1
140.4
1324
164.2
130.3
184.1
r
247.7
110.9
155.3
1536
176.5
1333
196.3
2629
117.5
107.0
145.9
1270
1646
139.0
1340
158.3
1274
186.9
253.1
110.9
103.0
1546
1397
1694
196.2
2598
120.6
104.5
151 4
1352
1675
188.5
256 1
109.0
102.6
1562
1443
1680
200.9
2643
124.6
102.8
156.8
1440
169.5
147.6
1430
171.5
129.3
198.0
258.7
125.4
102.7
154.4
1419
166.7
151.6
149 1
174.6
129.0
136.2
128 1
160.3
125.8
134.3
1266
156.6
1254
133.6
1266
153.6
125.5
1495
132.7
109.2
146.7
133.3
949
111.1
1328
1550
1422
123.1
1413
146.8
95 1
111.8
1294
159 1
1465
123.6
1700
147.7
952
1115
1333
1582
1460
124.1
1674
148.2
948
1168
1282
1558
1450
121.5
1619
148.8
950
1115
1234
156 1
1453
119.8
1669
148.9
940
111 9
1220
1554
1433
115.4
1608
148.4
939
108 1
1167
1547
1426
110.9
1455
150.5
945
110.5
1157
1574
1445
121.3
1479
151.5
962
1113
1158
1556
1424
120.8
1560
146.6
947
108.8
1205
153 1
138 1
109.9
1556
141.4
942
107.8
1216
1516
134.1
108.8
146.2
137.7
959
107.2
1196
1488
1289
r
90.0
1492
132.7
952
102.8
1146
1452
1238
71.4
1444
129.2
r
950
P
e
!430
e
1094
p
1683
189.7
169 1
190.9
173 1
1962
1719
194.2
1678
188.3
168 1
189.4
1689
1909
1682
190.2
1718
1952
1704
192.5
1700
191.7
1710
193.1
1709
193.4
169 1
191.2
P
1698
P
146.7
161.2
1496
150.4
164.8
152 1
153.2
167 1
1516
153.2
167.3
1519
151.1
1659
1507
148.0
162.8
151 4
145.0
1603
1530
142.0
157.4
1528
138.5
155 1
151 1
140.9
157.8
1517
140.1
157.3
1508
138.7
156.1
1497
137.9
155.0
1505
137.6
155.0
1510
1199
138.6
1270
151.1
1222
135.7
1204
155.0
1238
140.7
1226
156.7
1224
136.3
1225
1586
1243
132.5
1178
153.3
1196
126.1
1138
1526
1126
122.8
114 1
146.6
1127
120.0
1267
125.8
1267
126.0
116 1
126.3
1186
123.5
1236
123.0
1483
151.5
150.6
149.8
146.5
145.6
P
1443
e
1396
207.1
1329
255.7
70 1
144 2
215.6
1297
2740
693
1213
139.4
1226
154.9
144 4
221.5
1287
2853
70 1
146 1
219.2
1304
2867
696
1459
216.3
129 1
2822
697
1456
208.8
1283
2760
712
143 4
204.6
1280
264 1
708
1453
199.8
1283
2473
656
1456
196.7
1233
2447
63 1
146 4
201.3
1195
2518
640
1459
200.3
1213
2534
61 2
1442
198.6
1208
255 1
606
1438
193.6
1222
r
2570
r
61 1
141 2
193.2
1259
r
2590
r
623
P
141 9
P
192.4
P
1280
P
2580
P
e
1367
78.5
1193
1500
147.5
102.3
924
1198
134.1
162.8
1728
1405
81.1
119 1
1572
147.9
107.9
998
1224
136.4
171.2
1784
1436
80.6
1229
1649
148.7
109.4
997
1318
140.1
176.7
1809
1434
81.8
119 1
1633
148.2
113.1
105 1
1288
140.0
176.4
1826
1409
82.3
1132
1599
147.3
1086
992
1250
136.8
173.9
1800
1378
82.5
1096
1572
143.4
102.3
922
1193
133.8
169.7
1796
1344
843
1047
1537
135.9
96.6
872
1128
130.2
167.9
1757
1313
85.5
1048
1494
131.5
89.6
792
1080
126.1
167.4
1707
127 1
841
992
1443
128.5
897
796
108 9
120.7
160.9
1682
1293
83.8
1049
1484
135.0
88.5
785
1067
121.4
160.0
1729
1282
83.8
1035
1502
131.5
83.0
730
1007
121.1
157.3
1726
1267
85.2
1062
1518
127.0
76.4
65 1
959
119.1
153.7
1722
126 1 1255
r
863
865
1106 111 7
151 1 1499
125.7
125.0
r
•752
72.6
r
624
579
r
r
970
986
115.4
115.8
146.8
150.0
1709
1713
116.9
1190
171 1
116.1
1223
1703
119.8
1305
172 1
115.4
123 1
172 3
114.2
1204
169 7
110.6
1138
168 6
106.1
1055
167 1
103.7
1004
166 8
96.6
904
162 2
102.0
986
164 5
104.4
1056
163 0
105.9
1107
162 8
110.0
1198
163 8
98.2
151.9
1409
162.8
105.2
1434
1242
1624
111.6
1240
164 6
159 6
170.3 ""e'l69"5
P
1370 e!360
P
1536 ee!514
P
!284
131 1
P
200.0 193.3
P
105.8 e!04.0
P
179.5 ee!78.0
P
2443
2429
P
106.4 e!03.9
P
109.1 110.0
P
142.0 ee!42.0
P
1234
!236
P
1605
P
e
133.4 e!33.4
P
126 1 e!259
P
153.3 e!54.0
P
1267
!25.9
1438
"1206
P
56.2
P
1403
P
126.6
P
955
l!9 1
144 1
e
!23.7
lll 0
192.2
P
137.9
P
1553
P
151 5
e
!697
e
!92.1
e
!37.2
e
!554
P
124.3
642
P
1259
P
865
D
1130
P
1522
P
126.5
P
728
P
580
P
102
4
P
116.1
P
145.5
P
1717
P
113.1
P
127 4
P
165 2
mil. $.. 3,858,053 4,207,460 341,728 350,298 357,828 359,213 344,041 359,752 308,418 323,388 355,915 343,372 347,636 r356,134 330,515
do.... 13,858,053 '4,207,460 355,070 354,594 353,419 346,619 344,913 341,106 334,710 341,415 r342,340 339,385 r349,283 r345,555 345,409
do 1 1850 983 1994600 170 333 169 274 168 156 163 957 161 442 159 614 155 023 158 143 r!57 518 156 114 160 828 161 519 162 528
do.... 930,482 1,001,001 85,739 85,223 84,671 81,265 80,279 79,133 75,551 77,976 rr78,124 77,136 r79,518 rr78,888 79,725
do.... 920,501 993,597 84,594 84,051 83,485 82692 81 163 80481 79472 80 167 79,394 78978 81310 82 631 82803
J
do
951 902 1 1038 790 87292 87961 87823 86413 86733 86572 85 320 87 418 r87 242 88 294 90 841 r88 042 89 089
296,594 326 596 27759 28*098 27810 26354 26436 26206 25316 26696 26958 27984 29416 r27 175 27324
do..
do.... 655,308 712,194 59,533 59863 60013 60059 60297 60366 60004 60722 r60 284 60310 61425 r60 867 61 765
Merchant wholesalers, total @
do.... 1,055,168 11,174,072 97,445 97359 97440 96249 96738 94920 94367 95854 97580 94977 97614 rr95 994 93792
Durable goods establishments
. do
448 040 499 970 42288 42 144 41 562 40843 41 410 40930 40323 40597 39408 38482 38 291 37 841 37 954
Nondurable goods establishments
dcL.. 607,128 674,102 55,157 55215 55878 55406 55328 53990 54044 55257 58 172 56495 59323 r58 153 55838
Mfg. and trade sales in constant (1972) dollars
(seas, adj.) total * .
bil $
1590
1582
1577
1534
1532
152 4
152 2
1525 150 9
148 4
155
2 153
0
152 7
r
r
Manufacturing *
do....
74.6
73.8
73.4
70.8
69.4
67.7
69.8
67.0
68.8
68.8
69.4
69.4
69.6
r
45 9
Retail trade *
do
459
468
449
44 8
44 9
45 0
44 1
45 1
45 0
44
5
46 1
44 7
r
Merchant wholesalers *
do....
38.5
37.6
38.4
37.8
38.5
38.0
38.9
37.3
38.3
38.2
39.7
39^0
38.4
See footnotes at end of tables.
Mfg. and trade sales (seas, adj.), total $
Manufacturing total 1"
Durable goods industries
Nondurable goods industries
Retail trade total §
Durable goods stores
Nondurable goods stores
!37.6
109.2
e
96.1
!470
!42 2
e
!21 2
e
!245
e
878
«7l'3
e
l!5.1
e
!44.2
e
!70 7
e
!08.3
e
l!8 0
e
!65 1
S-3
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value, end of year
or month (unadj ) total iji
. mil $
Mfg. and trade inventories, book value, end of year
or month (seas, adj.), total $
mil. $..
Manufacturing, total t
Durable goods industries
Nondurable goods industries
....
do....
do
do....
Retail trade, total §
do....
Durable goods stores
do
Nondurable goods stores
do....
Merchant wholesalers, total @
do....
Durable goods establishments
. do
Nondurable goods establishments
do....
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....
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total $
ratio..
Manufacturing, total t
Durable goods industries .
Materials and supplies
Work in process
Finished goods
Nondurable goods industries
Materials and supplies
Work in process
Finished goods
Retail trade total §
Durable goods stores
Nondurable goods stores
..
Merchant wholesalers total @
Durable goods establishments
Nondurable goods establishments
do....
do ...
do....
do
do....
do....
do
do....
do
do
do....
do
do
do....
do
Manufacturing and trade in constant (1972) dollars,
total *
do....
Manufacturing *
do
Retail trade *
do....
Merchant wholesalers *
do
477 287
513 530 502 575 505 361 511 277 520 615 527 253 513 530 513516 513 844 517 710 512 689 513 132 r512 799 511 303
482,570
264,015
174 674
89,341
114,114
53747
60,367
520,024 504,744 509,959
283 152 276,983 279 102
188 429 183 229 185 022
94,723 93,754 94,080
125 693 121,993 123 341
58835 57865 58545
66858 64,128 64796
104,441
67033
37,408
113,259
111 179 105,768 107,516 108 802 108 708 110,243 111,179 111,154 108 714 109,369 112,722 111,540 113,286
73746 68929 70379 71842 71943 73479 73746 73 110 71859 72565 74668 72858 rr73 763 74921
37433 36,839 37 137 36960 36765 36764 37433 38044 36855 36,804 38,054 38682 39 523 38,338
515,387 518,458 521,644 520,024 516,439 513,797 r512,766 514,883 510,356 r512,752 513,435
282 209 284 386 285 783 283 152 281 154 281 688 r280,065 278,986 276 449 r275 115 275,175
187 686 189 461 190 222 188 429 187 054 187 121 186 063 185 916 184 870 184
289 183 825
94,523 94,925 95,561 94,723 94,100 94,567 94,002 93,070 91,579 r90,826 91,350
351 125,001
124 376 125 364 125,618 125 693 124 131 123 395 123,332 123,175 122 367 124
58761 59014 58907 58835 57807 56957 56803 56663 55984 rr57 346 58282
65615 66350 66711 66858 66324 66438 66,529 66,512 66383 67 005 66,719
266.5
1468
664
53.2
267.1
1469
663
53.9
269.4
149 4
659
54.1
270.5
1498
663
544
271.2
1498
662
55.1
269.9
1484
66 1
55.3
267.7
1469
654
55.4
266.5
1469
650
54.5
266.0
1464
65.1
54.5
266.5
1460
65.2
55.4
r
1.50
1.52
1.78
238
0.73
105
0.61
1.79
241
0.74
106
0.61
1 18
047
0.20
051
1.18
047
0.20
052
1 45
2.28
1 11
1 41
2.13
109
1 17
180
069
1 18
1.81
070
177
2 14
1 47
146
180
2 19
148
149
r
264.5
1453
647
r
54.5
r
265.2
1446
r
654
r
55.2
265.6
144 4
65.6
55.5
1.46
1.48
1.49
1.72
232
0.71
102
0.60
1.70
234
0.71
103
0.60
1.69
231
0.70
101
0.60
1.18
047
0.20
051
1.13
046
0.19
048
1.10
r
044
0.19
047
1.10
044
0.19
047
141
2.11
1 10
140
2.02
1 10
1 35
1.90
108
141
r
2.11
1 10
140
2.13
1 08
1 13
177
067
1 12
1.84
063
1 19
1.94
067
1 14
1.90
065
1 18
1.95
068
1 21
1.97
069
175
2 14
144
142
1.74
2 13
1.45
140
1.77
2 16
1.45
145
1.70
r
209
1.40
137
1.73
r
208
1.47
1 42
1.74
208
1.47
145
1.45
1.44
1.42
1.44
1.46
1.50
1.51
1.52
1.54
1.50
1.66
2 18
0.70
095
053
1.66
2 19
0.69
097
0.53
1.63
2.14
0.68
095
0.52
1.65
2 17
0.68
096
0.53
1.68
222
0.70
098
055
1.73
233
0.73
103
058
1.77
237
0.74
105
058
1.77
238
0.74
105
060
1.81
248
0.77
109
062
1.78
240
0.74
105
060
1.13
045
0.19
048
1.13
045
0.19
048
1.11
044
0.19
047
1.12
045
0.19
048
1.13
045
0.19
049
1.15
046
0.19
050
1 18
047
0.20
051
1 18
047
0.20
050
1 18
048
0.20
051
141
2.14
108
139
2.08
107
140
2.09
108
1 40
2.08
108
142
2.11
109
1 45
2.24
1 11
1 45
2.23
1 11
1 45
2.25
1 11
1 13
1.70
070
109
1.67
066
109
1.63
067
1 10
1.67
067
1 12
173
066
1 13
176
066
1 14
177
066
1.68
197
1.45
1 38
1 69
199
142
1 43
171
204
144
1 41
176
2 12
1 48
1 44
177
2 15
148
1 43
r
r
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS
Shipments (not seas, adj.), total t
Durable goods industries total
Stone, clay, and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries, total
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemical and allied products
Petroleum and coal products
Rubber and plastics products
Shipments (seas adj ) total t
By industry group:
Durable goods industries total #
Stone clay and glass products
Primary metals
Blast furnaces steel mills
Fabricated metal products
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles and parts
Instruments and related products
Nondurable goods industries total #
Food and kindred products
Tobacco products
do.... 1,850,983 1,994,600 155,918 166,109 173,758 169,614 160,772 155,117 144,431 160,220 165,832 158,058 161,541 169,159 148,569
307 70971
930 482 1 001 001 76657 81627 87337 85058 79659 76863 68605 78829 83776 79 101 80485 r84
3,871
3,832
3,801
3,756
4,155
3,404
3,238
3,543
3,923 rr4,166
46,083
49,141
4,298
4,345
4,173
9,000
9,742
9,507
8,951
8,981
7,543
136,847 10,726 11,473 11,611 11,081 10,014
9,634 10,046
133,930
3317
4837
3974 r4 120
69 195
5597
5029
4663
5051
4,813
4,440
61486
5777
5820
5560
9,190
116,194
123,282
9,659 10,501 10,611 10,450
9,295
8,812
8,360
9,978 10,244 10,531
9,528 10,319
180,727 203,737 15,376 16,135 18,009 17,272 16,856 17,692 14,455 16,964 18,032 15,602 15,810 16,815 13,795
128 587 137,873 10,463 11 465 12397 11988 11,725 11,125 10,410 11,689 12,094 11,622 11,716 12,354 10,639
186 282 203 000 14 801 15339 17203 17219 16 194 15645 12640 15524 17362 16889 18004 18 983 14913
8,516
8,217
8,338
9,365 10,286
8,940
7,353
8,521
9,905 10,297
10,682 11,361
104,560 114,882
6,979
r
4 171 r 4991 r 5640
4942
44 139
47530
3613
3878
3955
4054
3379
3832
6078
4291
4 125
do.... 920,501 993,597 79,261 84,482 86,421 84,556 81,113 78,255 75,826 81,391 82,055 78,957 81,056 rr84,852 77,598
do.... 255 872 269 130 21,301 22684 23515 22983 22,111 21,562 20,580 22,814 23,140 21,813 22,721 23,812 21,857
1061
1024
11893
1,132
1 162 1 135
1,162
1,083
1069
1 153
1 140 1388
13000
1 111 1 144
do ..
4625
4209 r 4547
3487
3856
4 145
3837
3553
4 135
4070
do
47397
52274
4589
4884
4476
r
6,476
6,447
6,727
6,196
6,815
6,139
6,915
6,538
do....
72,650
79,489
6,239
6,829
6,728
6,416
6,782
do.... 161,559
175,131 13,635 14,283 15,222 13,831 13,346 13,581 13,360 14,369 15,176 14,542 14,629 15,360 13,199
do
198 673 220 333 17965 18 617 18 199 18 459 17972 18067 17298 16547 15533 16 194 17287 17
17
190
770
3511
3607
do
47342
46504
3714
4 024
3515
3319
3 375
3*669
3 648
3 592 r3898
4074
4 134
. . . . do ..
170 333 169 274 168 156 163 957 161 442 159,614 155 023 158 142 157,517 156,114 160,828 161 519 162,528
do
do....
do....
do
do....
do....
do
do
do....
do
.
do....
. do
do
do
do....
do....
do
do
do
do
85,739
4221
12072
6 253
10,535
16,862
11,871
17606
10436
4010
85223
4048
12 107
6 172
10,427
17,199
11 779
17734
10 189
3903
84671
4022
11559
5 885
10,233
17,543
11,740
17450
9 941
4020
81265
3861
10 945
5 542
9,914
17,074
11,451
16004
8933
3982
do
do
do
84594
22 901
1 131
4 613
6,648
14990
18,307
4.076
84051
22657
1 129
4 537
6,639
14865
18586
3.927
83485
22 535
1 149
4 591
6,652
14777
18 187
3.942
82692
22 187
1065
4 263
6,646
14268
18,731
3.896
Paper and allied products
Chemicals and allied products
Petroleum and coal products .
do....
do
do...
Rubber and nlastics nroducts
do....
See footnotes at end of tables.
80,279
3857
10408
5 243
9,492
17,527
11,581
15695
8439
3876
79,133
3808
9626
4 892
9,361
17,116
11,252
16 118
8262
4035
81 163 80481
21 652 21 417
1 120 1 134
4 095
4 095
6,682
6,680
14 196 14260
18030 17,800
3.682
3.680
75551
3884
10028
5 009
9,231
15,939
11 210
13847
7357
3754
79472
22069
1 138
3905
6,712
13740
17,011
3.646
78,124
3821
8829
4254
9,765
16,570
11,508
15805
8829
3942
80 167 79,394
22709 22404
1 136 1 103
4254
4 150
6,599
6,603
13,847
14071
16,024 15,698
3.520
3.414
77976
3795
9572
4 812
9,557
16,587
11 451
15 152
8241
3933
77,136 r79,518 r78,888
3728
3863 rr3834
8953
8682 r8598
3904
3989
4 156
9,750 10,096 r9,890
15,432 15,899 15,488
11,677 11,912 11,639
15945 17314 17 573
9509 10 109 10
420
3,825
3,988 r4,007
r
78,978 81,310 r82,631
22302 23018 23 315
1 157 1 128 r 1351
4 148
4217
5058
6,463
6,346 r6,425
13,751 14,136 14,595
16,494 17,382 17,592
3.500
3.569 r3.762
79,725
3,813
8512
3714
10,034
15,072
12,089
17,986
11051
3,977
82,803
23484
1,021
4 168
6,601
14,523
17,536
3.853
Aug.
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1982
1981
1981
Annual
September 1982
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t— Continued
Shipments (seas, adj.) t—Continued
By market category: t
Home goods and apparel
mil $
Consumer staples
do
Equipment and defense prod exc auto
do
Automotive equipment..
do
Construction materials and supplies
do....
Other materials and supplies
do....
Supplementary series:
Household durables
do....
Capital goods industries
do
Nondefense
do....
Defense
do....
Inventories, end of year or month: t
Book value (unadjusted), total
Durable goods industries, total
Nondurable goods industries, total
Book value (seasonally adjusted), total t
By industry group:
Durable goods industries, total #
Stone clay and glass products
Primary metals
Blast furnaces, steel mills
Fabricated metal products
Machinery except electrical
Electrical machinery
Transportation equipment .
...
Motor vehicles and parts
Instruments and related products . ...
By stage of fabrication: t
Materials and supplies
Work in process
Finished goods ... .
Nondurable goods industries, total #
Food and kindred products
Tobacco products
Textile mill products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products
By stage of fabrication:
Materials and supplies
Work in process
Finished goods .
128 123
'328 375
'276 299
1
123 602
1
144,922
1
849,662
'136418
'349,269
'306 929
'135,005
'152,663
'914,319
11949
29662
25 148
12,284
12,946
78,344
11633
29,291
25954
11,910
12,509
77,978
11 448
29,457
26427
11,563
12,498
76,763
11 211
28,902
25476
10,542
12,056
75,770
11042
28,636
26321
9,933
11,728
73,783
10513
28,479
26684
9,804
11,515
72,619
10467
29,021
24 185
8,836
11,398
71,115
11 176
29,970
25566
9,769
11,400
70,261
11 208
29,753
25623
10,332
11,738
68,862
10708 10803 10 858
29,578 30,310 r31,043
23997 25056 r24 451
11,002 11,661 11,974
11,446 12,058 11,720
69,383 70,940 r71,473
11 192
31,058
24343
12,573
12,250
71,112
'58 247
'312 672
'274 246
'38,426
'61,299
'344 647
'297 724
'46,927
5297
28672
24704
3,968
5,141
29462
25363
4,099
5,164
29572
25584
3,988
5012
28733
24676
4,057
4,945
29532
25387
4,145
4,782
29600
25,315
4,285
4,723
27067
23,066
4,002
4,876
28417
24,043
4,374
4,982
28549
24060
4,490
4,897
26869
22599
4,271
r
4904
r
27 727
r
22
906
r
5178
27421
22649
4,772
4,808
28 140
23,471
4,669
do....
do....
do....
261 528
172,115
89413
do....
264,016
280,131 276 499 278 108 279,528 281 625 282 992 280,131 281,926 283,594 282 050 282,017 279,391 276 281 274 707
185,584 183,218 184,603 185,676 186,978 187,855 185,584 187,031 188,756 188,026 188,253 187,287 185,442
183,852
94,547 93,281 93,504 93,852 94,648 95,137 94,547 94,895 94,838 94,024 93,764 92,104 r90 839 90855
r
283,152 276,983 279,102 282,209 284,386 285,784 283,152 281,155 281,688 280,065 278,985 276,449 275,115 275,175
do....
do
do ...
do....
174,674
5995
22878
12,063
188,429 183,229 185,022 187,686 189,461 190,222 188,429 187,054 187,121 186,063 185,916 184,870 184,289
183,825
6781
6629
6544
6479
6429 r6382
6792
6422
6623
6766
6741
6792
6582
6393
26250 24667 25200 25927 26236 26415 26,250 25,974 26,070 26056 25403 25,063 r24 617 14383
13,347 12,580 12,784 13,198 13,332 13,378 13,347 13,120 13,128 13,441 13,075 12,867 12,566 12,455
do....
do ...
do....
do ...
do....
do ...
19,623
40714
26,042
35890
9,894
9 154
20,208
44376
28,142
38237
9,226
9610
19,859
42442
27,499
37942
9,685
9377
20,118
42823
27,815
37927
9,512
9405
20,334
43471
28,110
38409
9,608
9528
20,449
43899
28,482
39032
9,649
9541
20,561
44255
28,655
38958
9,360
9587
20,208
44,376
28,142
38,237
9,226
9610
20,339
44237
27,784
38 122
8,957
9420
20,142
44414
27,697
38 194
8,795
9513
19,848
44 134
27,526
38 150
8,673
9399
19,716
44449
27,365
38743
8,640
9516
19,664 19,593
44447 rr44 008
27,024 r26,950
38701 39
074
8,495 r8,649
9303 r9393
19,261
43775
26,882
39395
8,856
9382
do....
do....
do....
55,310
76,851
42513
58,461
82,814
47,153
58,016
81,041
44 172
58,121
81,635
45266
58,908
82,621
46,158
59,117
83,588
46 756
59,216
84,058
46,946
58,461
82,814
47,153
58,184
82,211
46,659
57,999
82,097
47,026
56,897
81,729
47435
56,947
81,562
47408
55,996
81,284
47590
r
55,643
r
81,304
r
47 342
55,747
80,237
47841
do....
do....
do....
do
do....
do....
do....
do....
89,341
21,590
3,638
6695
7788
19,514
9,814
6,029
94,723
20,400
4,401
7011
8,825
21,615
10,544
6,298
93,754
21,263
3,917
6957
8347
20,960
11,155
6,358
94,080
21,389
4,032
6947
8403
21,215
10,872
6,345
94,523
21,290
4,088
7008
8,545
21,334
10,810
6,434
94,925
20,990
4,181
7041
8654
21,714
10,510
6,473
95,561
20,939
4,231
7061
8,802
21,792
10,431
6,546
94,723
20,400
4,401
7011
8,825
21,615
10,544
6,298
94,100
20,481
4,495
6761
8,675
21,420
10,373
6,120
94,567
20,486
4,514
6710
8,850
21,418
10,615
6,172
94,002
20,405
4,572
6587
8921
21,428
10,531
6,153
93,070
20,377
4,812
6513
8,842
21,363
9,675
6,165
91,579 r90,826
20,140 19,830
4,812 r 4,697
6501 r6367
8,810
8757
20,895 '20,973
9,060 rr9,101
6,115
6,046
91,350
20,338
4,893
6391
8694
20,802
9,280
5,831
do
do....
do
36208
15656
37478
38015
16 196
40 511
37531
16 174
40 048
37447
16251
40382
37606
16213
40705
37720
15912
41 293
37834
16 174
41 555
38015
16 196
40511
37961
15959
40 179
37899
15792
40877
37317
15629
41 057
37486
15601
39983
37 172 r36 714
15438 15 555
38969 r38 557
36789
15568
38993
By market category: t
Home goods and apparel
do
Consumer staples
do ..
Equip, and defense prod., exc. auto
do....
Automotive equipment
. . .
do
Construction materials and supplies
do....
Other materials and supplies . . . . do ..
Supplementary series:
Household durables ..
do
Capital goods industries
do....
Nondefense
do ...
Defense
do
20817
32 196
70,150
12328
20,872
107 653
10345
79,141
68605
10535
22948 21669 21945 22084 22653 23 153 22948 22766 22631 22041 21948 21 779 rr21 598 21 768
33 100 33040 33390 33375 33369 33305 33 100 33309 33644 33631 33673 33355 r32 832 33557
76,445 73,698 74,198 75,187 76,189 76,718 76,445 76,265 76,744 76,716 77,708 77,506 77,622 77417
11873 12217 12082 12254 12321 12081 11873 11567 11366 11220 11 191 11 102 11 226 11354
22,172 22,101 22,277 22,488 22,354 22,406 22,172 21,729 21,338 21,078 20,723 20,639 '20,533 20,481
116 613 114 257 115 210 116821 117 501 118 121 116 613 115518 115 964 115 379 113741 112 068 111 304 110 598
11256
86,515
73360
13 154
10722
83310
71646
12 163
10939
84,466
72249
12217
11026
85,623
73 131
12492
11280
86,623
74005
12618
11343
87,126
74 164
12962
11 256
86,515
73360
13 154
11 196
86,302
72968
13334
11 120
86,974
73376
13598
10856
87,752
73806
13946
10896
86,795
72937
13857
10692 10 744
87,644 rr87,393
73615 73 166
14029 14 227
New orders, net (not seas, adj.), total t
do.... 1,868,857 1,992,179 156,351 164,078 172,209 167,182 157,465 153,451 147,978 159,497 166,453 156,759
155,250
Durable goods industries, total
do ... 948 723 999 268 77204 79679 86032 82956 76894 75381 71856 78548 84383 r77 867 r74 504
Nondurable goods industries total
do
920 134 992 912 79 147 84399 86 177 84226 80571 78,070 76 122 80,949 82069 78892 80,746
New orders net (seas, adj.), total t
do.... 1 1868 857 '1992179 172 089 168 797 167 728 159 558 159 460 156,660 154 519 155 984 157 198 r!54 995 156 791
By industry group:
Durable goods industries, total
do.... '948,723 '999,268 87,582 84,819 84,456 77 193 78,592 76,421 75,061 76,309 77859 r76,194 r75,710
8241
8 137
8453
Primary metals
. . . do .. 1 133
936 '133901 12503 11742 11 107
9786
9686
8981
9 163
7596
'68,410
3,741
Blast furnaces, steel mills
do.... 162,217
6,143
4,743
5,712
4,836
4,462
4,469
3,432
3,583
3,928
6,511
Nonferrous and other primary met
do.... '60,oi6
'53,606
4,592
4,358
4,033
3,866
3,767
3,741
4,865
4,014
3,804
3,440
3,828
9,956
9,124
8,777
9,052
8,989
9,405
Fabricated metal products
do.... 11 115,658 '122,031 10,893
9,919
9,440
9,272
9,819
Machinery, except electrical
do.... 180,332 '202,448 16,259 17,222 17,608 16,422 17,073 16,343 15,120 14,506 14,438 15,262 14,408
Electrical machinery
do. .. '135 199 '141,845 12 174 12009 12458 10594 12036 11 566 11842 11391 12782 12508 11888
Transportation equipment
do
'198898 '202 472 18872 18077 17204 15050 15067 14617 15 182 17305 17 138 16595 16011
Aircraft, missiles, and parts
do.... '70,394
'66,145
6,245
7,475
4,854
6,211
5,619
4500
5,341
5,282
5,841
7206
5,779
Nondurable goods industries, total
Industries with unfilled orders $
Industries without unfilled orders
By market category: t
Home goods and apparel
Consumer staples
Equip, and defense prod., excl. auto
Automotive equipment
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
See footnotes at end of tables.
fl
4,821
r
do.... '920,134
do.... '186 Oil
do.... '734,123
'992,912
'205,870
'787,040
84,507
17502
67,005
83,979
17396
66,583
83,272
17424
65,849
82,365
17025
65,340
80,868
17067
63,801
80,239
17,111
63,128
79,458
16946
62,512
79,676
16866
62,810
79,339
17607
61,732
do....
do ..
do....
do
do....
do....
'127,594
'328 433
'293,103
'122045
'144,254
'853,428
'136,200
'349 430
'308,350
'134898
'152,053
'911,251
11,927
29696
26,390
12364
13,177
78,536
11,540
29317
26,551
12009
12,187
77,193
11,459
29476
26,065
11291
12,440
76,997
10,894
28909
24455
10503
11,765
73,032
10,835
28669
26421
9497
11,761
72,277
10,472
28451
24,381
9869
11,228
72,258
10,296
28978
26,587
8771
10,856
69,031
11,120
29996
26,161
9438
11,108
68,162
11570
29822
25349
10285
12,006
68 167
do
'57 820
do.... '334,268
do
'281 384
do.... '52,884
'61 128
'347,082
'288 731
'58,350
5242
29,664
24 655
5,010
5084
29^877
24867
5,010
5 195
30,240
24312
5',927
4 700
26,636
22 528
4,109
4739
29,372
24 369
5,003
4747
27,774
22 130
5,644
4578
28,291
21 717
6,573
4 869
28,'772
21 560
7,213
5 353
29,239
22 174
7,065
10773
87,366
73 110
14256
162,730
144,844
r
78 199 67426
r
84 531 77418
157 058 160 171
r
74
550
r
8617
3,789
r
3,939
77538
8741
4,025
3,867
r
9,389
13,015
11 705
16
347
r
4560
9,613
13,417
12409
17581
5 159
81,081 r82,508
16756 16 867
64,325 r65,641
82,633
17054
65,579
!0 067 11 040 10 964
29477 30340 rr31 070
25890 22074 23 179
10625 11 398 11 887
11,003 11,592 11,384
67937 70347 r68 574
11039
31023
22907
12 766
12,152
70284
r
4 254
28,782
22 608
6,174
5028
25*403
20 771
4,632
78,803
16653
62,151
r
r
5 022 r5 004
25,107 r24 715
20 332 19
278
4J75 r5,437
Aug.
S-5
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1982
1981
Annual
Aug.
July
Sept.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,
AND ORDERS t— Continued
Unfilled orders, end of year or month (unadjusted),
total t
mil $
Durable goods industries, total
do....
Nondur. goods ind. with unfilled orders $
do....
318 797
308,131
10,666
316 375 327 359 325 328 323 779 321 348 318041 316 375 319921 319 197 319817 r318518 r312 234 r305 804 302 077
306,395 315 995 314 048 312 743 310,642 307 877 306 395 309 646 309 365 309 971 r308 736 r302 762 r296 652 293 105
9,847
9,782
9,979 11,364 11,281 11,036 10,706 10,163
9,979 10275
9,832
9,472 r9 152
8972
320 977
318,621 328 861 328 384 327 955 323 556 321 574 318621 318 114 315 957 315 639 r314 521 r310 482 r306 032 303 672
310,051
29,658
16966
8899
294,677
308,370 317,462 317,057 316,841 312,769 311,082 308,370 307,877 306,211 305,947 r305,004 r301,194 r296,866
26,623 29964 29599 29 148 27,989 27268 26623 25759 24427 23,195 22378 22 147 r22 168 22396
16 113 17952 17923 17751 16951 16543 16 113 15573 14502 13679 13 106 13 129 12 930 13 241
8387
7433
6697
6572
6419 r6586
7,302
8625
8078
7638
7302
7030
6921
6532
do....
do....
. . do
do....
do....
30497
73,884
47917
114,304
86,831
29,240 30956 30447 30 170 29696 29328 29240 28785 28281 28334 27574 26883 rr26 384 25960
72,627 74,417 74,440 74505 73,854 73,400 72627 71807 69,727 67,595 67,425 65,934 63,462 61,808
51939 51081 51310 52028 51 171 51625 51939 52570 52510 53784 54613 54588 r54 655 54975
113,709 116,694 117,039 116791 115,838 115,211 113709 115043 117,196 118,529 119,178 117,876 116,652
116,250
87,207 88,478 88,493 89,054 88,203 88,029 87,207 88,123 90,514 92,483 93,349 92,613 r91,494 91,300
Nondur. goods ind with unfilled orders $ .. do....
10926
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
Machinery, except electrical
Electrical machinery
Transportation equipment
Aircraft, missiles, and parts
By market category: t
Home goods, apparel, consumer staples
Equip, and defense prod. incl. auto
Construction materials and supplies
Other materials and supplies
Supplementary series:
Household durables
Capital goods industries
Nondefense
Defense
10,251
11399
11327
11 114
10,787
10,492
10251
10237
9,746
9518
9,692
r
9288
r
r
9 166
8995
r
do....
do....
do....
do....
3,559
186 434
17,588
112,788
3,497
4,429
3,684
3,457
4,103
4,010
3,704
3,457
4,029
3,998
3,951
4,087
3,899
4,021
187,724 191 294 191 991 191 356 190 296 189 959 187 724 190 058 190,323 190 002 191,517 188 274 186 916 185 673
15,071
16,982 17,906 17,584 17,527 17,235 17,269 16,982 16,440 16,148 16,416 15,972 15,506 15,170
r
109,671 114,827 114,042 114,276 111,538 110,033 109,671 107,588 105,488 104,793 103,346 102,751 99,859 99,029
do
do....
do
do....
3 123
218,190
155 646
62,544
3 104
3288 r 2643 r2858 r 2961
3069
2924
2916
2810
3069
3649
3591
3623
3311
220,621 223,618 224,034 224,701 222,605 222,445 220,621 221,841 222,197 222,888 224,799 221,766 r218,756 216,742
266
132
351
146 701 154 821 154 324 153 052 150 904 149 886 146 701 145 351 142 868 140 982 140 991 137 852 134
73,919 68,799 69,711 71,650 71,701 72,560 73,919 76,490 79,329 81,905 83,808 83,914 r84,530 84,391
New incorporations (50 States and Dist. Col):
Unadjusted
number..
Seasonally adjusted
do....
533 520
580,867
BUSINESS INCORPORATIONS @
52566
50,433
45762
47,483
48305
48,792
49002
47,947
43,533
49,413
48650
47,556
42680
43,330
42,511
47,234
52,574
46,899
48,845
46,876
46,008
46,995
INDUSTRIAL AND COMMERCIAL
FAILURES @
Failures total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
. number..
do
do .
do
do
i
do
.. .
Liabilities (current) total
Commercial service
Construction
Manufacturing and mining
Retail trade
Wholesale trade
1432
184
318
184
599
147
11 742
1594
2355
1599
4910
1 284
thous $ 4 635 080
413 502
do
do
752 109
do
1 885 017
993 539
do
590 913
do
*
Failure annual rate (seasonally adjusted)
No per 10 000 concerns
1 172
153
243
154
507
115
619 462 450 412
44 158 38319
68 285 69 184
95513 86609
287 268 91 261
124 238 165 039
*42 1
65 9
533
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS H
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..
614
633
651
632
608
594
593
583
601
608
608
616
633
628
do
do....
do
do....
.... do . .
do....
do ...
do
do....
do
do....
539
562
583
417
452
458
1,219
580
676
565
446
456
477
1,363
595
654
594
461
436
439
1,387
564
626
549
429
430
478
1,404
521
594
490
393
427
469
1,452
517
608
526
382
436
482
1,426
524
621
507
373
442
554
1,435
527
733
432
381
434
540
1,452
545
892
421
400
432
519
1,478
534
789
409
391
425
547
1,478
530
632
452
404
417
537
1,469
541
602
458
418
413
581
1,469
541
636
464
404
388
614
1,474
691
798
878
254
688
842
848
264
708
820
893
269
703
826
884
263
699
838
872
263
675
856
822
255
665
856
794
268
641
856
756
253
659
850
791
259
685
844
841
264
521
656
423
392
419
533
1,478
699
832
870
268
706
820
898
255
727
807
950
247
718
801
936
245
..
...
Prices paid:
Production items
do....
All commodities and services, interest, taxes, and
wage rates (parity index)
1910-14—100
r
622
617
r
537
r
603
r
486
r
385
r
374
r
523
554
510
350
374
791
1,526
709
1,400
r
711
r
807
r
912
254
714
813
929
236
872
799
854
859
858
859
850
849
840
856
858
866
866
871
950
1,031
1,035
1,038
1,040
1,037
1,037
1,031
1,058
1,060
1,067
1,066
1,071
do....
65
61
63
61
58
57
57
57
57
57
57
58
59
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W)
1967 = 100..
247.0
272.3
274.6
276.5
279.1
279.7
280.4
281.1
282.1
282.9
282.5
283.7
286.5
246.8
272.4
274.4
276.5
279.3
279.9
280.7
281.5
282.5
283.4
283.1
284.3
287.1
290.6
292.2
292.8
266.0
280.8
279.6
267.4
281.4
280.6
268.3
282.1
281.5
268.5
281.7
280.9
268.7
282.9
282.1
270.6
286.0
284.9
273.8
289.7
288.4
275.3
291.5
289.9
275.7
292.5
290.5
Parity ratio §
876
1,073
r
876
1,077
1,076
59
58
57
290.1
291.8
292.4
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, ALL URBAN CONSUMERS
(CPI-U)
1967-100
Special group indexes:
All items less shelter
do....
All items less food
do
All items less medical care
do....
See footnotes at end of tables.
235.5
2440
245.5
258.5
2706
270.9
259.9
2727
273.0
261.4
2749
274.9
263.5
278.2
277.8
264.5
279.0
278.3
265.4
280.1
279.0
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1982
1981
1981
July
Annual
September 1982
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
COMMODITY PRICES—Continued
CONSUMER PRICES— Continued
(U.S. Department of Labor Indexes) — Continued
Not Seasonally Adjusted
All items (CPI-U)—Continued
Commodities
1967= 100..
Nondurables
do....
Nondurables less food
do
Durables
do....
Commodities less food
do....
Services
do
Services less rent
do....
Food #
do....
Food at home
.
do....
Housing
...
do
Shelter #
do
Rent residential
do....
Homeownership
do
Fuel and utilities #
do....
Fuel oil coal and bottled gas
do
Gas (piped) and electricity
do....
Household furnishings and operation
do....
Apparel and upkeep
do ...
Transportation
dp....
Private
do. .
New cars
do....
Used cars
do
Public
do....
Medical care
do
Seasonally Adjusted
All items percent change from previous month ....
Commodities
1967 — 100
Commodities less food
do....
Food
do
Food at home
do....
Apparel and upkeep
do....
Transportation
do....
Private
do
New cars
do....
Services
do....
PRODUCER PRICES §
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967 — 100
By stage of processing: t
Crude materials for further processing
do....
Intermediate materials, supplies, etc
do....
Finished 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
do....
Foods and feeds processed
do
Industrial commodities
do
Chemicals and allied products
do....
Fuels and related prod., and power
do....
Furniture and household durables
do....
Hides, skins, and leather products
do....
Lumber and wood products
do....
Machinery and equipment
do
Metals and metal products
do..*
Nonmetallic mineral products
do
Pulp, paper, and allied products
do....
Rubber and plastics products
do .
Textile products and apparel
do....
Transportation equipment # ....Dec. 1968=100..
Motor vehicles and equip
1967 — 100..
Seasonally Adjusted $
233.9
245.0
2352
210.4
222.0
2703
285.1
254.6
251.5
263.3
281 7
191.6
3140
278.6
5560
301.8
205.4
1784
249.7
2492
179.3
208 1
251.6
2659
253.6
266.3
2575
227.1
241.2
3057
324.3
274.6
269.9
293.5
3147
208.2
352.7
319.2
6759
345.9
221.3
186.9
280.0
277.5
190.2
2569
312.0
2945
See footnotes at end of tables.
259.5
271.7
260.1
233.7
246.0
325.3
345.7
258.8
270.7
258.4
233.5
245.2
325.5
345.7
258.9
269.3
255.0
235.8
245.0
328.4
349.1
261.5
270.7
256.2
239.8
247.8
331.8
352.8
265.1
274.4
261.2
243.2
251.9
334.9
356.5
281.0
275.3
283.3
278.0
303.5
326.6
213.6
366.7
330.1
672.7
360.6
225.6
304.2
327.2
215.0
367.2
329.8
676.1
358.3
227.2
305.2
328.0
216.5
367.8
331.8
682.5
359.9
227.7
306.1
328.3
217.8
367.5
336.2
686.0
367.4
228.4
307.3
329.5
218.6
368.7
337.1
683.1
368.7
230.2
283.9
277.9
309.4
331.4
220.1
370.6
339.2
641.3
377.8
232.6
285.5
279.8
313.8
336.7
221.8
377.4
345.4
644.6
r
389.0
233.4
287.8
282.6
317.5
340.9
222.6
382.8
352.2
656.6
r
398.9
233.7
190.7
285.2
281.9
191.3
2728
329.1
301 7
191.5
287.2
283.9
192.5
278.2
330.8
3048
191.3
289.1
285.8
195.3
2814
333.2
3082
190.5
289.8
286.5
197.0
281.9
333.8
310.2
187.3
289.9
286.6
197.4
280.5
334.9
313.4
188.0
288.0
284.5
195.5
279.7
336.8
316.2
283.0
277.1
306.7
327.6
219.6
365.7
339.3
664.0
375.9
231.6
191.1
285.1
281.3
194.4
280.9
336.7
318.8
191.9
282.9
278.8
196.0
285.1
339.3
321.7
191.5
285.6
281.5
197.5
291.4
342.1
323.8
1.1
2573
244.9
2783
273.3
0.5
258.8
246.5
279.3
273.3
0.4
259.6
247.5
279.5
273.1
0.3
259.9
247.2
281.5
275.9
-0.3
259.1
245.9
282.2
276.4
0.2
258.4
244.6
283.0
277.1
1.0
260.7
246.9
285.4
279.9
189.0
0.4
258.3
245.9
279.0
273.5
189.5
284.6
2815
193.7
288.2
285.1
194.0
189.3
290.8
2878
194.6
316.9
318.4
257.9
269.5
260.7
232.9
245.9
318.6
338.7
258.0
269.5
261.1
233.2
246.2
320.6
340.8
277.4
272.8
299.7
3220
210.3
361.8
327.8
674.6
360.8
222.9
277.6
272.1
187.4
283.7
280.5
191.9
2669
326.5
2993
11
2540
241.6
2750
269.9
187.1
0.8
2554
243.0
276.5
271.3
188.4
279.7
2766
192.8
281.4
2783
192.8
308.6
312.2
256.2
268.1
258.4
230.9
243.8
312.2
331.7
276.2
271.6
297.0
3185
207.8
3580
325.1
6779
357.6
222.4
1847
282.6
2796
192.5
2603
323.1
2956
266.5
275.7
263.0
244.7
253.5
337.0
358.5
288.5
282.8
319.2
342.8
224.8
384.5
354.7
659.9
402.1
234.1
266.4
275.5
263.6
244.6
253.8
338.9
360.5
287.4
280.8
320.1
344.2
226.0
385.9
356.3
659.9
404.4
233.4
190.8
292.8
288.9
198.1
298.2
345.6
326.4
189.7
296.1
292.3
198.6
302.4
347.2
330.0
191.8
296.2
292.4
198.7
304.4
348.1
333.3
0.6
265.5
252.7
287.0
281.0
189.4
189.3
0.2
260.4
247.2
283.2
278.1
190.1
190.9
191.1
191.0
1.0
264.0
250.6
287.2
282.0
191.2
192.1
0.3
265.6
253.1
286.2
279.2
192.8
291.9
288.7
196.0
289.9
286.5
194.5
287.1
283.4
194.6
289.7
285.7
197.9
293.1
289.2
198.8
293.9
290.0
199.7
324.4
325.6
325.7
282.6
278.5
196.0
328.7
283.8
279.7
196.5
321.4
292.5
289.6
196.1
322.9
331.8
334.5
336.4
338.5
2688
2934
2962
2964
2957
296 1
2955
2958
2983
2986
2980
r
2980
2986
2994
3006
3004
304.6
280.3
247.0
2489
239.8
329.0
306.0
269.8
2713
264.3
337.3
308.5
271.8
2735
265.4
333.0
310.1
271.5
2730
265.8
327.4
309.7
271.5
273 1
265.3
319.9
309.4
274.3
275 1
271.5
313.9
309.0
274.7
2752
273.0
311.5
309.4
275.4
2758
274.1
318.4
311.0
277.9
278.3
276.2
321.6
311.1
277.9
2786
275.0
320.0
310.6
277.3
277.7
275.8
r
322.6
r
309.9
r
277.3
r
2773
r
328.1
309.8
277.7
277.6
278.3
325.7
310.0
279.9
2800
279.6
323.4
311.4
281.7
2820
280.9
320.5
311.0
282.4
2827
281.4
251.5
2824
261.5
2508
2730
269.8
3124
286.0
2696
3036
251.5
2549
2487
304 1
270.8
3168
288.0
2706
3069
256.8
2633
2522
3062
2913
704.9
199.5
261 1
296.5
2648
3020
3143
2749
232 1
201.3
235.0
2374
271.9
3162
288.6
2717
3069
271.8
3150
288.3
271 7
3063
277.6
3147
291.9
2780
3068
246.0
242.2
247 1
3118
292.9
705.1
203.5
261.8
285.5
274 1
304.7
3156
285.5
2373
205.0
248.6
2508
277.4
3154
292.0
2778
3072
248.4
2471
248 1
3116
293.6
697.8
204.6
261.6
285.2
2754
3042
3190
286.3
2393
205.6
245.2
2468
277.4
3142
291.4
2778
3059
247.5
244.7
248 1
3110
294.6
689.7
205.5
260.6
285.3
2762
302.9
3199
287.4
2408
205.0
245.2
2468
278.4
3145
291.3
279 1
304 1
255.6
2561
2544
3095
296.2
661.9
206.1
263.4
283.9
278 1
3034
319 1
289 1
2429
205.1
247.2
2487
279.1
3177
293.9
280 1
3086
279.1
3173
293.9
280 1
308 6
255.3
2527
2558
3107
2935
677.4
206.6
2627
288.7
2784
300 1
318 7
2893
2433
204.5
249.6
2515
252.5
2465
2548
3130
2916
701.8
206.8
2613
288.3
2794
3002
320 3
2889
243 1
204.1
250.4
2525
250.1
2420
2536
3134
3137
2804
2380
203.6
246.3
2489
276.0
3114
289.9
2765
3043
241.0
2346
2436
3100
291.8
702.5
202.9
2607
285.4
2720
3033
3135
2810
2383
203.4
246.8
2495
278.4
3160
292.4
2794
3062
250.3
251 1
2489
3074
2933
703.5
201.0
261 7
289.3
268 1
3049
313 2
2778
2357
202.9
231.8
2328
275.4
311 4
289.7
2758
3045
242.5
2374
2443
3093
2920
698.1
202.1
2598
282.1
2704
3042
278.1
254.2
2579
2512
3072
293.3
704.3
199.6
2613
294.5
2662
304 1
314 1
2759
234 1
202.4
235.9
238.4
275.0
3128
289.8
275 1
3055
246.0
2431
2466
3090
2924
698.1
201.3
2600
284.3
2693
3053
3133
2792
2373
204.0
244.5
2478
04
03
06
05
03
05
-02
-0 1
244.7
2494
2412
2748
260.3
574.0
187.7
248.9
288.9
2398
286.4
2830
249.2
2174
183.5
207.0
208.8
287.8
694.4
198.4
261.5
292.8
263 1
300.4
3095
273.7
2328
199.6
235.4
237.5
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....
PURCHASING POWER OF THE DOLLAR
As measured by:
Producer prices
1967 = $1.00..
Consumer prices
do
258.8
270.8
260.2
233.4
245.9
323.9
344.2
277.1
271.0
258.4
269.8
261.1
233.7
246.5
321.8
342.0
277.8
271.7
257.7
269.5
2603
232.6
245.5
317.3
337.5
278.0
273.2
303.7
3269
211.9
367.8
331.1
673.4
364.5
224.5
255.0
267.1
2575
229.6
242.6
3088
328.1
0.405
0406
0.371
0367
02
277.2
r
3136
r
291.1
2787
r
304 1
r
251.6
2506
r
251 1
3099
r
2943
r
670.6
r
206.0
r
2634
r
286.5
r
2776
r
303 1
r
3202
r
2885
r
241
1
r
205.4
r
245.8
r
2472
r
O1
r
2916
705.7
207.4
2632
284.4
2797
3002
320 4
289 1
2436
203.9
251.2
2533
-0 1
10
06
06
3270
3097
279 7
2797
263 9
283 9
226 9
326 5
2799
3237
3110
281 3
2813
260 0
288 1
227 5
333 4
2812
321 9
3107
283 0
2830
260 3
290 3
229 l
336 0
283 1
0.357
0 344
0.355
0 342
0.354
0 342
3376
308 1
2713
2729
256 6
2774
218 5
3212
2656
3344
3097
272 1
2733
256 8
2779
219 6
3215
2674
3284
3098
2726
2739
255 5
2793
219 5
3239
2678
3227
3097
2742
2752
255 0
2814
222 5
3253
2705
318 1
3106
2755
2763
253 2
2838
224 5
3280
2725
3136
311 1
2763
2769
253 0
2846
224 7
3293
274 1
3193
3120
2778
2785
255 9
2856
224 4
331 3
2754
3173
311 1
2773
2782
257 1
2847
223 1
3306
2743
3147
310 1
2769
2773
256 8
2836
224 3
3278
2757
r
320 1
r
3083
r
277 1
r
2773
r
261 1
r
281
7
r
223 7
r
325 0
2765
3273
3088
276 8
2766
262 7
280 1
224 3
3218
2777
0.368
0 364
0.368
0362
0.368
0 358
0.365
0 357
0.364
0 356
0.363
0 355
0.360
0 354
0.360
0 353
0.361
0 353
0.361
0 352
0.360
0 348
S-7
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
14,726
16,705
17,945
r
r
May
June
July
r
Aug.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total
mil. $..
Private, total #
Residential
New housing units
230,749
238,201
21,689
21,646
21,986
21,308
19,963
18,865
15,142
do....
do
do
175 699
87261
63 139
185 222
86566
62664
16654
7 960
5854
16563
7 709
5623
16595
7453
5422
16417
7 182
5077
15487
6736
4630
14941
5966
3951
12 170
4 963
3450
11794
4 417
3 166
13349
5 175
3789
14 183
5924
3856
Nonresidential buildings, except farm and
public utilities total $
mil $
Industrial
do
Commercial
do
Public utilities:
Telephone and telegraph
do....
52434
13837
29945
60818
17030
34 248
5 409
1553
3 024
5571
1636
3 097
5602
1635
3 115
5 739
1680
3 180
5545
1588
3 117
5230
1456
3 008
4 542
1226
2 619
4 575
1239
2 623
5 018
1338
2 898
5 195
1296
3 078
!9,246
20,809
20,603
!5
153 16 182
r
6626 r6916
r
4 175 r4'404
15850
6985
4704
r
5 776
1543
r
3320
5 615
1454
3 287
5 383
1417
3 119
6733
7074
592
606
649
701
631
652
466
531
639
584
588
do...
55050
52979
5036
5083
5392
4891
4476
3924
2971
2932
3356
3762
4093
r
4627
4753
Buildings (excluding military) #
Housing and redevelopment
Industrial
do....
do....
do
17792
1,722
1655
1554
142
138
1584
143
120
1632
133
181
1510
127
110
1511
135
109
1459
147
158
1 186
111
93
1227
113
121
1290
129
138
1380
136
150
1380
132
131
1468
133
146
1454
140
139
Military facilities
Highways and streets
do
do
18517
1,648
1 441
1880
13807
1964
13304
183
1531
146
1522
173
1569
150
1389
165
1 110
161
756
159
434
114
444
179
585
152
721
183
1 014
169
1467
177
1593
227.7
r
230.2
228.5
!79.3
181.6
179.7
Public, total #
New construction (seasonally adjusted at annual
rates), total
bil. $..
238 1
2359
2335
2308
2300
2288
225.1
2226
2246
226.2
do....
1869
1852
1824
1800
1781
1766
1755
1730
1736
175.3
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 ..
870
64 1
84 1
608
804
57 1
782
534
762
504
758
494
737
51 0
692
492
70.0
510
72.4
496
Private, total #
616
178
34.2
625
187
343
62 9
185
34.9
629
185
346
634
184
357
62 2
166
364
v
628
17 1
36.2
64 1
172
368
649
166
38.4
642
159
38.4
r
654
756
510
r
75.4
r
498
76.7
518
644
17 1
36.8
r
67 1
184
r
38.0
64 1
166
37.3
68
69
72
73
75
75
73
84
74
71
73
do...
512
507
51 1
508
51 9
522
496
496
51 0
509
485
r
487
48.8
Buildings (excluding military) #
Housing and redevelopment
Industrial
do....
do
do...
17 1
16
17
17.2
17
15
17.3
15
17
172
15
15
17.7
16
15
176
16
18
16.8
17
1i
177
15
18
16.9
16
16
17.6
16
18
16.5
15
15
16.8
16
1.6
16.1
16
1.7
Military facilities
Highways and streets
do...
do
21
132
17
127
19
125
19
119
19
128
20
127
21
115
15
124
23
133
1.9
12 1
2.1
117
1.9
13 1
2.0
144
Public total #
70
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $..
Index (mo data seas adj )
1977 — 100
Public ownership
.
.
Private ownership
By type of building:
Nonresidential
Residential
. . . . .
Non-building construction
New construction planning
(Engineering News-Record) §
148,393
1106
150,189
1107
13,579
99
12,289
99
12,868
100
12,328
101
9,722
92
11,577
112
10,580
r
l!8
8,881
97
13,036
105
11,713
88
11,821
94
15,444
111
12,528
98
mil $
do....
41717
106,676
39070
111,120
r
3215
10,364
3336
8953
3965
8903
3541
8,787
2406
7,316
2862
8715
2673
7907
2998
5,883
4280
8,756
3394
8,319
3773
8,048
4360
11,084
3745
8,783
do..
do
do....
52492
63668
32,234
58250
60063
31,877
r
5557
r
5810
r
2,212
5270
4894
2126
5 125
4844
2898
5287
4872
2,169
4,380
3737
1,605
4445
3739
3393
3458
3008
4,113
3606
3 143
2,132
5,273
4600
3,164
4,400
4656
2,658
4,233
4984
2,604
6,113
5602
3,729
5,011
5 144
2,372
do..
149 143
166 366
12897
11890
11999
16597
15,492
17516
13920
12,102
10,844
14,043
9,119
8,278
11,992
10,385
thous..
do....
do
1,312.6
1,292.2
8522
1,100.3
1 084.2
7054
101.0
99.9
695
87.3
86.3
570
90.9
84.1
583
88.1
87.2
499
64.9
64.6
40 1
59.7
59.1
34 1
47.6
47.2
293
52.0
51.3
325
78.7
78.2
51.8
85.1
84.1
55.8
99.2
98.8
58.9
r
91.1
r
'91.9
107.5
107.1
'61.1
94.3
93.1
58.6
1,040
696
946
614
899
623
854
507
860
554
882
550
885
592
945
568
931
621
882
566
1,066
631
r
908
r
621
1,195
r
625
1,002
610
886
494
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
Privately owned
One-family structures .
Seasonally adjusted at annual rates:
Total privatelv owned
One-family structures
do.. .
do
New private housing units authorized by building
permits (16,000 permit-issuing places):
Monthly data are seas. adj. at annual rates:
Total
thous..
One-family structures
do
Manufacturers' shipments of mobile homes
Unadjusted
thous
Seasonally adjusted at annual rates
do
63.5
1,191
710
986
564
941
543
878
505
835
456
738
400
743
413
797
454
803
450
792
436
851
460
879
450
944
488
929
516
1,062
r
500
2216
240 7
21 8
267
22 4
238
215
232
202
208
157
207
14 2
206
13 9
211
172
251
22 1
252
223
255
218
246
236
257
194
246
156.5
156.0
156.3
158.3
157.6
157.6
158.4
CONSTRUCTION COST INDEXES
Dept. of Commerce composite
1977=100..
143.2
152.5
152.4
153.4
154.8
154.9
154.7
156.1
American Appraisal Co., The:
Average 30 cities
Atlanta
1913—100
do
2495
2 660
2 553
2671
2343
2643
2841
2 645
2873
2453
2678
2 894
2 653
2*915
2467
2679
2896
2668
2909
2505
2676
2898
2658
2893
2494
2678
2892
2655
2896
2491
2678
2878
2 646
2918
2523
2700
2893
2 659
2934
2535
Boeckh indexes:
Average, 20 cities:
Apartments hotels office buildings 1977 — 100
Commercial and factory buildings
do
Residences
do.
125 1
1277
128.9
1374
140 1
1360
1397
1419
138.3
Engineering News-Record:
Building
Construction
287.7
3014
310.3
3289
312.1
3316
163 0
156 7
San Francisco
St Louis
do
do
1967-100..
do
Federal Highway Adm. — Highway construction:
Composite (avg for year or qtr )
1977 — 100
See footnotes at end of tables.
1432
145.9
141.6
142 1
1453
140.4
313.5
3328
316.6
336 1
1573
319.1
3419
323.6
345.4
146.0
148.5
143.1
144 1
146.3
142.1
323.3
344.9
1568
324.7
346.8
325.7
347.8
324.8
347.2
1453
149.0
151.1
146.1
325.0
347.3
328.6
353.0
152.6
154.3
149.9
328.5
352.9
146.8
330.6
357.9
2
333.5
2
360.0
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
July
June
Aug.
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE H
Mortgage applications for new home construction:
FHA net applications
thous. units..
Seasonally adjusted annual rates
do
141.4
92.3
6.2
65
7.2
84
5.4
58
4.5
50
4.6
61
8.2
126
7.5
136
8.6
126
9.8
104
6.3
67
5.2
51
6.7
76
8.2
90
6.8
76
2022
1538
138
150
119
135
85
99
90
100
87
123
91
141
9.3
142
9.1
119
11.1
118
13.6
143
13.0
151
14.1
154
12.3
139
119
127
Home mortgages insured or guaranteed by:
Fed Hous Adm ' Face amount
mil. $ . 16 458 53 10 278 14
Vet. Adm.: Face amount §
do.... 13,855 54 7 905.93
79347
644.07
62298 1 014 78 65428
696.21 660.19 485.73
72794
464.19
59331
357.69
44387
327.39
60652
393.60
585 12
421.78
54757
374.45
589.61
327.85
71628
443.89
65380
438.90
59251
552.50
Federal Home Loan Banks, outstanding advances
to member institutions, end of period
mil. $..
69,398
69,325
68,399
Requests for VA appraisals
Seasonally adjusted annual rates
do .
do....
New mortgage loans of all savings and loan
associations estimated total
mil $
By purpose of loan:
Home construction
do....
Home purchase
do....
All other purposes
do....
48,963
65,194
59,475
62,471
64,347
64,662
64,409
65,194
65,099
65,089
66,162
67,941
67,801
72537
53283
4987
4055
3865
3465
2934
3760
2628
2849
3966
3807
3797
r
5006
3804
14,946
42,957
14.634
11599
28,299
13.385
1003
2,771
1.213
772
2,323
960
803
1,970
1.092
650
1,838
977
600
1,498
836
824
1,682
1,254
495
1,204
929
592
1,320
937
966
1,647
1,353
832
1,612
1.363
796
1,607
1.394
1,052
r
2,080
r
1.874
779
1,830
1.195
DOMESTIC TRADE
ADVERTISING
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
28726
1122
231.1
525
280.8
2119
32225
141 7
290.1
565
318.3
2318
1966
64
17.6
36
21.4
176
2109
129
17.4
48
22.3
158
2848
21 1
147
72
30.9
184
3305
154
29.3
54
28.2
237
3933
165
38.4
54
31.1
342
2753
116
21.1
38
23.5
203
2112
79
20.3
27
20.1
103
2495
84
23.5
25
27.8
21 1
2878
15 1
29.6
44
27.5
185
2909
159
25.5
59
30.8
262
3389
11.8
36.5
68
34.4
21 2
2627
55
17.0
44
28.7
228
do....
do....
do...
do....
do
do....
2392
139.6
710
30.0
2903
1,213 9
251.8
165.4
675
29.6
3145
1,355 1
150
9.9
43
1.4
255
734
143
9.5
40
1.9
275
807
181
14.6
59
3.2
256
125 1
248
21.1
79
3.6
236
1468
337
23.5
83
3.5
284
1703
37.9
13.0
47
1.7
252
112.7
15.1
7.1
35
1.5
21 2
101.4
162
6.7
42
1.9
245
112.5
208
12.5
55
2.8
27 1
123.3
207
14.9
52
3.1
289
129.6
227
19.2
80
3.0
323
143.0
23.2
9.6
35
2.3
282
117.5
Newspaper advertising expenditures (Media
Records Inc.):
Total
mil $
Automotive
do....
Classified .. . .
do
Financial
do....
General . . . .
.
do
Retail
do....
8 1859
1824
2 1956
2973
1 1217
4,388 9
95754
2256
25149
3872
13800
50678
7073
158
2088
297
94 1
3589
811 7
213
2388
352
928
4236
7793
174
204 3
394
109 4
4088
8567
247
2078
455
1294
4494
9367
196
2013
31 1
137 1
5475
7950
132
149 1
31 7
91 7
5094
7383
216
2084
426
1206
3450
7296
225
1973
260
119 1
3647
8243
258
2185
313
1288
4199
8147
24 1
2092
306
1228
4280
9049
250
2336
294
1378
4790
mil. $.. 1,055,168 1,174,072
448,040 499 970
do..
do.... 607,128 674,102
97,562
42626
54,936
95,143
42523
52,620
98,548 100,820
42726 43253
55,822 57,567
95,938
40333
55,605
98,565
41012
57,553
87,340
35404
51,936
87,470 103,912
36578 42482
50,892 61,430
96,622
39675
56,947
95,748
37908
57,840
Beer, wine, liquors
Houshold equip., supplies, furnishings
Industrial materials
Soaps, cleansers, etc
Smoking materials
All other
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.), total
Durable goods establishments
Nondurable goods establishments
Merchant wholesalers inventories, book value,
end of year or month (unadj.), total
mil. $..
Durable goods establishments
do....
Nondurable goods establishments
do....
104,655
65,825
38,830
r
98,549
r
39 582
r
91,713
37271
54,442
58,967
*
112,163
111,163 104,675 105,722 107,225 108,655 111,015 111,163 111,331 110,187 111,386 113,319 111,342 112,469
72345 69825 70590 71411 71008 72450 72345 71575 71931 73,073 75,265 74,169 rr75,238 75,895
38,818 34,850 35,132 35,814 37,647 38,565 38,818 39,756 38,256 38,313 38,054 37,173 37,231 36,268
RETAIL TRADE
All retail stores: t
Estimated sales (unadj ) total "f"
951 902 1 038 790 88248
89046
85522
88779
87331 106 069
76647
75698
86 172
87502
90347
r
r
1
Durable goods stores #
do
Building materials, hardware, garden supply,
and mobile home dealers ..
. mil $
Automotive dealers
do..
Furniture, home furn., and equip
do....
296 594
326 596
28858
29248
27626
27 165
25750
29 140
21 704
23365
27988
27903
29443
r
r
1
49616
162 309
43,416
53 164
180 722
45,701
4952
16307
3,745
4824
16742
3,881
4704
15425
3,838
4662
14842
3,887
4 190
13444
3,987
3841
13341
4,836
3058
12 118
3,211
3055
13912
3,143
3861
17068
3,552
4308
16506
3,451
Nondurable goods stores
General merch. group stores
Food stores
Gasoline service stations
.
do
do....
do
do
655 308
117 227
217 047
93 624
712 194
127 494
237 586
101 665
59 390
9600
20928
9 069
59 798
10423
20 121
8 855
57 896
9*905
19 544
8 551
61 614
11014
20723
8 664
61 581
12622
19514
8 271
76 929
19888
22019
8 555
54 943
7442
19966
8 110
52 333
7*468
18594
7460
58 184
9473
20066
7 918
59 599
10226
20616
7 819
r
4,808 r 4657 1 4648
4,886
225 15 993 15579
17329 16
r
3,647 r3,702 ^,679
3,477
r
60 904 59 924 r62 196 J61 325
10*775 10 143 10*108
10 541
21 157 r20
785 r22 337 *20 729
8 062 r8 463 r8 790 13 878
Apparel and accessory stores
Eating and drinking places
Drug and proprietary stores
Liquor stores
do....
do
do....
do....
44,426
85842
30,504
17,083
47,755
94070
32999
17,461
3,589
8432
2710
1,506
4,126
8 500
2699
1,479
3,920
7 989
2601
1,396
4,227
8 183
2760
1,458
4,268
7570
2725
1,438
6,676
7888
3837
2,125
3,302
7279
2590
1,333
3,168
7259
2*575
1,257
4,038
8 464
2829
1,410
88294
mil $
do....
87292
87961
86733
86572
85320
87654
27759
28098
87823
27 810
86413
Durable goods stores #
do
Building materials, hardware, garden supply,
and mobile home dealers #
mil $
Building materials and supply stores .. do....
Hardware stores
do..
26 354
26436
26206
25316
26810
26958
27 984
90841
29 416
4487
2937
794
4377
2876
803
4 313
2807
782
4 152
2712
771
4213
2758
789
4 058
2586
783
4 046
2538
844
4 130
2690
781
4 173
2727
785
4 263
2829
759
4 480
2938
820
Automotive dealers
Motor vehicle dealers
Auto and home supply stores
do
do....
do
15 451
13728
1723
Furniture, home furn., and equip. #
Furniture, home furnishings stores
Household appliance, radio. TV
do....
do...
do....
3,734
2275
1.176
See footnotes at end of tables.
28 502
90 233
28 037
r
3,774
r
9 341
r
r
3,649
r
8 934
r
3,934
8889
2833
1,469
3,729
8 129
2802
1,362
87277
Estimated sales (seas, adj.), total t
88 426
2827
1,450
2*825
1,569
r
r
r
r
88 042
27 175
r
4 261
r
2855
r
88 930
27 605
1
4,004
19 229
'2817
89 089 '88 292
27 324 126 361
r
764
4 251
2852
759
14 169
15896 15664 14506 14596 14 497 13677 14 894 15 175 16074 17 269 15 288 15 490 1 14 630
14 148 13888 12'806 12866 12819 12083 13239 13526 14360 15485 13 446 13 695 12827
1 748 1 776 1 700 1 730 1 678 1 594 1 655 1 649 1 714 1 784 1 842 1 795
3828
2351
1.202
3864
2391
1.200
3781
2289
1.228
3775
2270
1.246
3776
2285
1.236
3508
2 112
1.137
3655
2 176
1.187
3652
2 182
1.173
3706
2233
1.184
3723
2239
1.181
r
3641
r
2 187
1.136
r
3704
2 200
1.215
'3635
S-9
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1982
1981
Annual
July
Aug.
Sept.
Oct.
Nov.
Dec.
Apr.
Jan.
Feb.
Mar.
60004
10427
8672
707
60844
10770
8 916
714
20419
18778
8382
60319 60310
10*833 10700
8861
8992
721
760
20340 20555
18798 * 19 026
8047
7*827
May
June
July
Aug.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
All retail stores t— Continued
Estimated sales (seas, adj.) —Continued
Nondurable goods stores
General merch. group stores
Department stores
Variety stores
mil $
do....
do
do....
Food stores
Grocery stores
Gasoline service stations
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
Book value (unadjusted) total
mil $
Durable goods stores #
do...
Building materials and supply stores .. do....
Automotive dealers
do...
Furniture, home furn., and equip
do....
Nondurable goods stores $
do
General merch. group stores
do....
Department stores
do
Food stores
do....
Apparel and accessory stores
do
Book value (seas adj ) total
Durable goods stores #
Building materials and supply stores
Automotive dealers
Furniture home furn and equip
do
do....
do
do....
do
Nondurable goods stores $
General merch. group stores
Department stores
Food stores
Apparel and accessory stores
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
Food stores
Grocery stores
.
Apparel and accessory stores
Eating places
Drug stores and proprietary stores
Estimated sales (sea adj ) total $
Auto and home supply stores
Department stores
Variety stores
Grocery stores
(2)
do..
do....
do
do..
do
mil $
.
do .
do
do
do....
do
do..
do
. do
do
do
do. .
do
do
do
Apparel and accessory stores
Women's clothing spec stores furriers
Shoe stores
Drue stores and proprietary stores
59533
10610
8632
756
59863
10743
8746
756
19881
18337
8468
4013
20 131
18 614
8449
4029
651
1511
730
7,807
2777
1,449
60013
10651
8 683
732
20053
18525
8551
60059
10634
8645
737
20 199
18 694
8511
60297
10751
8721
740
20393
18867
8536
60366
10774
8728
738
20487
18950
8521
720
4035
672
1505
708
7,989
2791
1,462
3985
630
1485
702
7,935
2801
1463
3984
627
1471
750
7,813
2797
1,459
3994
678
1459
712
7,999
2802
1458
656
1518
7,880
2801
1,500
20213
18666
8628
3947
568
1534
722
7,973
2690
1,466
4340
615
1663
792
4 196
619
1599
781
4017
633
1562
700
8,460
2823
1468
8,329
2880
1,495
8,364
2852
1,519
61425 r60 867 r61 765
11 181 10
795 11
022
r
9237 r8923
9 142
r
717
759
739
20984 r20 648 r20 936
19390 19017
19 274
7935 r8075 r 8200
r
4233 r 4001
4 135
r
651
679
644
1641 1r 542 1 556
707
767
759
8,514
2882
1,496
r
8,549
r
2920
1,453
111 104
52991
9,197
24708
8,346
58 113
19811
14835
12600
9041
114 114
53,747
9610
24,488
8542
60367
21,810
16213
12535
9388
122 236 121 401 121 532 124 524 130 334 133 246 122 236 119899 120 063 123 374 123 540 122
399 124 083
57994 58070 56506 56491 58528 59819 57994 57454 56869 57842 57780 r57,319 58,378
9,997
9,390
9,390
9,372
9,657
9,795
9,970
9,942
9,936
9,894
9776
9745
9772
207 28507
28211 28 134 26094 25759 26879 27838 28211 28249 27384 28097 27624 r27
r
8,847
8,731
8,847
8,663
8,630
8,630
8,688
8,738
8,833
9,349
8,605
8,908
9,256
64242 63331 65026 68033 71 806 73427 64242 62445 63 194 65532 65760 r65 080 65705
22515 23456 24383 26223 28405 28746 22515 22 113 22*575 24016 24411 24070 24384
16897 17370 18050 19 514 21242 21730 16897 16600 16882 18025 18395 18069 18099
13825 13093 13 138 13446 13*905 14208 13825 13573 13*724 13907 13907 13
825 13999
9945 r9882
9574
9653 10089 10525 10978 11 193
9574
9249
9565 10054
9909
125 693 121 993 123 341 124 376 125 364 125 618 125 693 124 131 123 395 123 332 123 175 122
367 124 387
r
58,835 57865 58545 58761 59014 58907 58,835 57,807 56*957 56,803 56,663 55,984 57,304
9734
9500
9822
9946
9954
9903
9822
9652
9638
9587
9776
9881
9895
27,437
27,987 27718 28 149 28276 28294 28091 27987 27,695 27006 27,068 26,716 r25,911
r
8695
8604
8679
9074
8784
8780
9074
8968
8826
8708
8811
8900
9068
66858 64 128 64796 65615 66350 66711 66858 66324 66438 66529 66512 r66 383 67083
24,821 23,702 24,073 24,519 25,188 25,113 24,821 24,666 24,611 24,689 24,620 24,444 24,812
18487 17688 17960 18375 18899 18798 18487 18465 18470 18506 18469 18270 18431
13702 13279 13365 13568 13474 13583 13702 13766 14018 13824 13,893 13,979 14,155
9 901
9952
9 810
9872
9 899 10 030
9952 10097 10 197 10301 10200 10 177 10311
338 028
25023
3606
313 005
105,982
115 059
113 630
17066
18237
16 137
372 443
27216
3846
345 227
116 115
127517
125 629
18798
20' 125
17 769
(2)
do....
do
do
do....
30489
31053
2274
2326
349
334
28 163 28779
8711
9,505
11 149 10708
10990 10555
1678
1378
1 808 1804
1452
1 442
31270 31 415
326
326
8436
8325
589
582
10 547 10 738
1585
1569
675
351
666
342
1.502
1.504
30017
32282
33310
2404
2230
2278
342
322
321
27787 30004 30906
9*992 11,533
9*041
10487 11 246 10488
10340 11098 10339
1 560 1631
1729
1690
l'641
1*755
1 365 1 436 1477
31 412
324
8 363
571
10 627
1572
665
336
1.493
44821
3447
345
27 194
26 138
30277
31 360
2205
352
41374 25484 24420 28 162 29 155
18,270
6,753
6,814
8,715
9,401
12064 10934 10086 10923 11 204
9929 10,779 11,031
11790 10,797
1 160 1 137 1477
1666
2790
1 705 1 579 1 512 1 750 1 804
2254
1394
1374
1524
1 535
31 187 31 391 31827 31 311 31951 32044 31 789
329
337
329
313
320
339
315
8668
8517
8407
8330
8539
8 328
8374
550
598
586
580
563
572
578
10 640 10 725 10927 10733 10863 10910 10987
1,614
1,598
1,664
1,710
1 544 1 567 1591
674
697
676
655
718
651
655
342
366
358
368
365
337
337
1.547
1.489
1.488
1.503
1.561
1.611
1.501
1 710
275
1 718
259
2 115
323
r
32 205
r
2370
r
346
r
29
835
r
9,931
11321
11,175
1606
1,925
1550
r
'61931
10924
'9038
'21 199
19498
*8423
1
3972
r
8,617
r
'8,593
X
2907
231.99
232.22
2903
1,476
31,277
2,357
360
28920
9,351
11043
10,894
1475
1,926
1515
32r737
341
r
8914
r
619
11 130
32372
333
8649
571
11049
1,724
r
713
r
388
1,578
1,633
231.63
231.81
688
363
1,585
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total incl armed forces overseas $ .
mil..
LABOR FORCE
Not Seasonally Adjusted
Labor force, total, persons 16 years of age
and over
thous..
Armed forces
do
Civilian labor force total
do....
Employed
do
Unemployed
do
Seasonally Adjusted H
Civilian labor force, total
do....
Participation rate *
percent
Employed total
thous..
Employment-population ratio *
percent..
Agriculture
thous..
Nonagri culture
do....
Unemployed, total
Long term, 15 weeks and over
See footnotes at end of tables.
do....
do....
3
3
109,042
2,102
106,940
99,303
7,637
110,812 112,881 112,259 110,438 111,402 111,337 110,738 110,173 110,492 110,936 110,990 112,089 113,742 114,706 114,083
2,196
2,159
2,175
2,176
2,175
2,173
2,180
2 168
2,160
2,158
2,158
2 164
2,142
2,139
2,165
108,670 110,742 110,099 108,273 109,244 109,179 108,574 108,014 108,324 108,761 108,814 109,914 111,569 112,526 111,887
100,397 102,612 102,152 100,389 101,028 100,502 99,562 97,831 97,946 98,471 98,858 99,957 100,683 101,490 101,177
9,957
9,957 10,886 11,036 10,710
8,130
8,676
9,013 10,183 10,378 10,290
8,273
7,947
8,216
7,884
227.66
63"8
58.5
3364
95,938
1,871
229.81
229.81
230.03
230.26
230.48
230.67
230.84
231.01
231.18
231.32
231.48
108,688 108,818 108,494 109,012 109,272 109,184 108,879 109,165 109,346 109,648 110,666 110,191 110,522 110,644
63.8
63.7
64.3
64.0
64.1
64.1
63.5
63.7
63.9
63.9
63.8
638
636
63.8
100,864 100,840 100,258 100,343 100,172 99,613 99,581 99,590 99,492 99,340 100,117 99,764 99,732 99,839
57.5
57.1
57.1
57.2
57.1
57.4
57.2
57.5
57.3
58.4
58.0
57.9
58.3
58.5
58.0
3,435
3,488
3,357
3,460
3,349
3,309
3,209
3,411
3,373
3,372
3342
3404
3378
3368
3358
97,030 97,522 97,436 96,900 96,965 96,800 96,404 96,170 96,217 96,144 96,032 96,629 96,406 96,272 96,404
9,854 10,307 10,549 10,427 10,790 10,805
9,571
9,575
9,298
7,824
7,978
8,236
8,669
9,100
3,286
3,631
3,015
3,673
3,580
2,724
2,954
2,399
2,372
2,217
2,364
2,170
2,248
2,292
2,285
es'jj
S-10
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1982
1981
July
Annual
September 1982
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE— Continued
Seasonally Adjusted U
Civilian labor force—Continued
Unemployed— Continued
Rates (unemployed in each group as percent
of civilian labor force in the group):
All civilian workers
Men, 20 years and over
Women 20 years and over
Both sexes, 16-19 years
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 t
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seasonal variation ....thous..
Private sector (excl government)
do
Seasonally Adjusted t
Total employees, nonagricultural payrolls
do....
Private sector (excl. government)
do....
Nonmanufacturing industries
do..
Goods-producing
do
Mining
.
do
Construction
do....
Manufacturing
do....
Durable goods. ...
do
Lumber and wood products
do....
Furniture and fixtures
do
Stone, clay and glass products
do....
Primary metal industries
do
Fabricated metal products
do....
Machinery, except electrical
do....
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
do....
Wholesale and retail trade
do....
Wholesale trade
do
Retail trade
do
Finance, insurance, and real estate
do....
Services
"
do..
Government
.
do
Federal
do....
State and local
do...
Production or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous..
Manufacturing
do
Seasonally Adjusted t
Production or nonsupervisory workers on private
nonagricultural payrolls t
thous..
Goods-producing
do
Mining
do....
Construction
do
Manufacturing
do
Durable goods. .
do
Lumber and wood products
do....
Furniture and fixtures
do....
Stone, clay, and glass products
do....
Primary metal industries
do....
Fabricated metal products
do....
Machinery, except electrical
do....
Electric and electronic equipment
do....
Transportation equipment
do....
Instruments and related products
do....
Miscellaneous manufacturing
do....
See footnotes at end of tables.
71
5.9
64
76
6.3
68
72
5.8
67
73
6.0
66
76
6.2
69
197
80
6.7
70
204
7.0
152
48
10 1
6.6
148
44
60
107
88
7.9
74
85
7.5
72
8.8
7.6
76
9.0
7.9
79
9.4
8.2
8.3
9.5
8.4
83
9.8
8.8
84
24.1
9.8
8.9
82
24.0
6.5
70
8.7
173
6.6
74
12.0
8.6
17.5
6.7
71
11.6
9.5
8.7
81
22.3
21.4
21.5
21.7
22.3
21.9
23.0
23.1
7.7
157
5.7
66
105
7.5
7.7
159
5.3
70
102
7.9
166
5.5
8.4
169
6.0
78
8.5
172
6.1
74
106
7.4
152
52
65
108
4.1
102
4.1
109
12.7
12.5
12.5
12.9
13.7
13.5
5.0
11.8
13.9
4.9
14.4
4.8
14.2
7.7
163
8.1
176
8.4
178
86
8.6
9.4
9.5
9.1
18 1
11.0
11.8
8.8
187
10.4
11.0
9.0
18 1
10.6
11.3
9.5
179
10.8
10.8
9.9
194
11.8
11.9
9.9
188
11.6
12.2
10.0
192
12.3
13.2
10.2
203
12.0
12.7
10.1
203
12.1
12.9
91,620
76091
91,884
75884
91,765
75628
91,437
75329
89,269
73407
89,413
73328
89,679
73503
89,984
73830
90,455
74295
r
90,570
r
r
89,362
r
P
89,195
P
91,224
75,307
55210
25393
1 195
4 101
20,097
12059
643
469
629
1 104
1,577
2,532
2,101
1,861
731
412
8038
1,662
69
814
1,243
685
1276
1,107
215
734
233
65831
5,162
20,654
5380
15 274
5,325
18773
15 917
2,757
13 160
90,996
75,088
55185
25 176
1 202
4,071
90,642
74,725
55049
24908
1206
4,026
90,304
74,445
55,126
24450
1,197
3,934
90,083
74,231
55,062
24289
1,182
3,938
90,166
74,313
55 198
24255
1 152
3,988
r
89,839
r
74,007
r
55,077
r
r
r
r
89,662
r
73,949
r
55,105
r
P
19,903
11 901
628
462
620
1082
1,553
2,511
2,077
1,830
727
411
8002
1,664
69
804
1,235
681
1276
1,103
215
725
230
65820
5,150
20,623
5375
15 248
5,324
18815
15908
2,749
13 159
90,460
74,596
55079
24684
1201
3,966
19,676 19,517
11724 11622
607
615
457
452
610
596
1 053 1038
1,529
1,515
2,486
2,459
2,049
2,055
1,777
1,791
725
720
409
403
7895
7952
1,657
1,661
69
68
794
780
1,222
1,201
677
674
1 276 1275
1,100
1,095
210
214
712
716
224
222
65734 65776
5,128
5,125
20,524 20,630
5357
5346
15 167 15 284
5,331
5,326
18834 18831
15917 15864
2,756
2,741
13 161 13 123
90,459
74,609
55,155
24631
1203
3,974
19,454
11575
611
449
596
1024
1,505
2,446
2,048
1,778
718
400
7879
1,663
68
111
1,201
670
1276
1,093
208
708
215
65678
5,168
20,620
5375
15245
5,311
18615
15964
2,775
13 189
91,363
75,459
55 192
25583
1 192
4 124
20,311 20,267
12228 12 184
671
661
475
473
643
638
1 134 1 125
1,610
1,604
2,532
2,539
2,116
2,113
1,901
1884
734
734
412
413
8083
8083
1,659
1,658
70
69
829
827
1,253
1,253
691
695
1 271 1274
1,107
1,110
216
216
752
746
235
235
65685 65780
5,168
5,181
20,650 20,660
5387
5383
15263 15277
5,319
5,328
18654 18707
15894 15904
2,769
2,764
13,125 13 140
65828
5,115
20,670
5343
15327
5,326
18867
15850
2,737
13 113
19,319
11490
607
446
590
1007
1,496
2,419
2,038
1,774
716
397
7829
1,658
68
760
1,186
668
1278
1,088
207
703
213
65854
5,100
20,655
5336
15319
5,336
18904
15859
2,736
13,123
19,169
11375
615
443
584
976
1,481
2,389
2,034
1,748
713
392
7794
1,643
67
773
1,165
664
1274
1,082
206
706
214
65794
5,094
20,584
5323
15261
5,335
18929
15852
2,730
13 122
19,115
11332
617
443
586
945
1,472
2,377
2,034
1,755
713
390
7783
1,652
67
67
r
741
759
1,165 1,161
661
658
1 274 1 269
1,079 1,073
207
205
r
708
704
r
211
212
65911 r65
845
5,101 r5,078
20,652 r20,595
5307
5331
15 321 15
288
5,342 r5,352
18963 18 988
15853 15 832
2728
2739
13 125 13 093
60,881
14021
61,456
14043
61,645
14 153
61,776
14 304
61,585
14079
61,311
13834
61,007
13515
59,135
13200
59,094
13 168
59,257
13093
59,562
12971
60,027 r60,284 r59,971
12958 12 931 12 653
P
59,973
P
60,881
18245
832
3250
14021
8301
555
376
491
860
1,172
1,585
1,311
1,215
428
304
61,193
18313
856
3245
14 212
8439
570
385
496
872
1,196
1,601
1,331
1,244
432
312
61,168
18224
869
3219
14 136
8389
558
383
496
871
1,188
1,607
1,331
1,219
431
305
61 180
18 164
61017
17972
60775
17754
877
882
3 180
3 155
13 915 13717
8218
8061
516
531
369
376
484
475
821
843
1 156 1,133
1,576
1,598
1,285
1,314
1,184
1,159
428
424
303
304
60401
17478
883
3 107
13488
7885
503
364
465
795
1,110
1,552
1,257
1,115
423
301
60248
17251
875
3035
13 341
7793
497
359
452
780
1,096
1,526
1,266
1,102
420
295
60282
17225
876
3059
13 290
7759
502
356
452
770
1,089
1,514
1,258
1,108
418
292
60 132
17073
59923
16922
863
3017
13 042
7576
507
350
441
727
1069
1,460
1,241
1,086
411
284
60 025 r59 759 r59 713
16 917 16 r686 16 609
835
'789
805
3074 r3 029 T3 022
13 008 12
852
12
798
7 553 r7r443 ry'420
r
507
510
506
r
r
350
350
349
r
r
444
438
440
r
r
702
675
686
1063 1046 1045
1,370
1,454 1,408
1,224
1,240 1,233
1,098 1,089
1,116
r
r
412
407
407
r
281
283
283
P
59 491
P
16P497
788
P
3 001
P
12
708
P
7P309
508
P
351
P
443
P
655
P
1032
p
l,344
p
l,221
p
l,069
P
403
P
17.8
19.6
18.7
19.0
6.3
4.2
58
92
6.7
142
4.3
60
104
6.3
138
3.9
57
6.2
147
40
55
3.7
100
10.3
4.0
4.0
9.5
3.9
9.5
7.4
14 1
7.7
156
7.2
152
7.3
162
85
9.0
8.3
8.2
7.3
7.1
7.0
6.5
90,406
74 165
91,105
75081
91,107
75773
91,087
75990
90,406
74,165
53,880
25658
1027
4,346
20,285
12 187
690
465
662
1 142
1,613
2,494
2,090
1,899
711
418
8098
1,708
68
847
1,263
692
1252
1,107
197
726
232
64748
5,146
20,310
5275
15035
5,160
17890
16241
2,866
13375
91,105
75,081
54,908
25481
1 132
4,176
65625
5,157
20,551
5359
15 192
5,301
18592
16024
2,772
13253
60,331
14214
60,331
18442
762
3421
14 214
8442
577
375
513
877
1,195
1,602
1,328
1,233
425
313
13 1
83
7.1
72
11 2
91,396
75,432
55053
25718
1 164
4,175
20,173 20,379
12 117 12266
668
683
467
476
638
644
1 121 1 132
1,592
1,617
2,507
2,527
2,092
2,112
1,892
1,925
726
731
410
419
8056
8 113
1,674
1,678
69
70
822
835
1,244
1,255
687
691
1265
1268
1,107
1,110
215
217
736
750
233
239
79
7.7
91,322
75,428
55,117
25637
1 180
4,146
876
3201
14 087
8345
549
381
492
865
1 182
1,606
1,327
1,206
431
306
61
4.2
4.5
15 1
5.3
62
104
4.2
4.6
71
106
4.8
871
3023
13 179
7685
497
353
446
756
1081
1,490
1,248
1,109
415
290
11.5
4.9
11.8
4.8
8.4
17 1
12.4
74 599
74 280
23 994 23 880
l 124 1 107
3,940 r3,929
18,930 18,844
11r203 11r 157
615
618
r
r
442
442
r
580
580
r
926
913
1,447
1,452
r
2,322 r2,276
'2,026 r2,021
1,763
1,745
r
r
708
708
r
r
387
389
r
7727 r 7687
1,637
1,648
65
r
741
1,129
r
659
1 266
1,069
r
205
r
700
r
205
74 293
89,451
"73,751
P
55,022
P
23
730
p
l 099
"3,902
P
18,729
P
11027
P
618
P
443
"582
P
891
p
l,432
P
2,247
P
2,008
p
l,715
P
704
"387
P
7702
p
l,634
P
66
P
734
p
l,161
P
655
P
1267
p
l,071
P
207
P
698
P
209
65
782 P65 721
r
5,041 P P5,038
r
20,613 20,531
5298 P P 5279
15
315 15 252
r
5,358 P5,375
19 057 "19077
P
15713
15 700
r
2733 P 2721
12 980 P12979
r
12 737
283
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
S-ll
1982
1981
July
Aug.
Oct.
Sept.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT t— Continued
Seasonally Adjusted t
Production or nonsupervisory workers—Continued
Nondurable goods
. ..
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
thous
do...
do
do...
do....
do...
do
do....
do....
do....
do....
5772
1,174
53
736
1,079
522
698
625
124
559
196
5721
1,150
54
712
1,059
518
698
627
134
569
197
5773
1,154
55
724
1,069
521
698
630
136
584
202
5747
1,139
55
718
1,066
520
699
630
134
586
200
5742
1,137
54
717
1,066
525
701
629
134
580
199
5,697
1,142
54
704
1,056
515
702
625
133
568
198
5656
1,144
54
693
1,049
511
700
621
132
557
195
do....
do....
do
do...
do....
do....
do....
42,015
4,293
17812
4,312
13,500
3,907
15,921
42,964
4,277
17960
4,360
13,600
4,002
16,539
42,880
4,285
18026
4,376
13,650
4,010
16,559
42,944
4,285
18049
4,381
13,668
4,018
16592
43016
4,295
18059
4376
13,683
4,023
16639
43,045
4,275
18053
4373
13,680
4,019
16,698
43,021
4,261
18016
4367
13,649
4,013
16731
35.3
35.2
43"3
370
43.7
369
35.6
35.3
43.6
378
35.6
35.2
44.2
374
35.1
35.0
43.9
358
35.2
35.1
44.5
376
39.7
39.8
39.9
399
30
39.5
39 4
27
Service-producing
Transportation and public utilities
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate
Services
.
r
5409
5455
1 133 1,121
52
52
r
633
650
r
982
985
493
489
r
699
696
600
595
122
123
r
542
543
r
177
!77
5548
1,135
54
670
1,018
504
699
612
125
544
187
5531
1,142
53
667
1,018
501
699
609
124
538
180
5494
1,138
53
651
1,006
499
701
609
124
534
179
5466
1,125
52
662
987
496
698
602
123
541
180
42923
4,241
17920
4348
13,572
4,014
16748
42,997
4,241
18011
4332
13,679
4,007
16,738
43,057
4,232
18061
4327
13,734
4,003
16761
43,059
4,217
18051
4317
13,734
4,004
16787
43,001
4,209
17996
4,301
13,695
3,999
16,797
35.1
35.1
44.4
37 1
35.2
35.0
44.8
37 1
33.9
34.4
42.9
333
34.8
35.0
43.6
359
34.7
34.9
43.8
370
34.6
34.9
42.7
367
34.8
35.0
42.6
375
39.7
395
27
39.7
393
25
39.9
39 1
24
37.1
376
23
39.2
394
24
39.1
390
23
38.7
390
24
39.0
39 1
23
39.3
392
24
5603
1 140
53
683
1,036
506
700
616
131
548
190
r
P
5399
p
P
5378
1 r133
51
r
634
r
951
r
490
r
694
r
592
122
r
541
170
43,108 r43,073 r43,104
r
4,194
4,212
4,160
014 18 038
18065 18
r
4,287
4280
4309
13,756 13,727 13,758
r
r
4,012
4,010
3,998
16833 16,853 16,896
l 121
52
P
629
P
982
P
489
P
692
P
597
P
124
P
539
P
174
P
42
994
P
4,155
17
924
P
4263
P
13,661
P
4,015
P
16 900
P
AVERAGE HOURS PER WEEK f
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.
payrolls: |j Not seasonally adjusted
hours..
Seasonally adjusted
do....
Mining ±
do....
Construction $
do
Manufacturing:
Not seasonally adjusted
do....
Seasonally adjusted
do
Overtime hours
. . .
do
35.0
34.9
42.8
375
r
P
35.3
P
34.9
P
41.9
P
35.2
34.9
r
r
42.7
r
38 1
377
r
P
39.0
P
390
P
P
28
28
39.6
400
30
Durable goods
Overtime hours
Lumber and wood products
Furniture and fixtures
Stone, clay, and glass products
Primary metal industries
Fabricated metal products
Machinery except electrical
Electric and electronic equipment
Transportation equipment
Instruments and related products
Miscellaneous manufacturing
do
do....
do
do.. .
do....
do....
do....
do
do....
do....
do....
do
401
2.8
385
38.1
40.8
40.1
40.4
410
39.8
40.6
40.5
387
402
2.8
387
38.4
40.6
40.5
40.3
409
39.9
40.9
40.4
388
405
3.0
387
38.6
40.8
40.7
40.5
412
40.4
41.2
40.5
390
40 4
3.0
384
38.4
40.7
40.8
40.4
41 1
40.3
41.2
40.6
389
397
2.7
376
37.4
40.3
40.6
39.6
403
39.7
40.1
40.4
384
400
2.6
378
38.0
40.1
40.0
40.0
408
39.8
40.6
40.3
389
397
2.4
377
37.6
40.1
39.6
39.7
407
39.4
40.4
40.2
390
395
2.3
377
37.9
39.7
39.2
39.5
404
39.5
39.7
39.0
385
382
2.2
350
33.6
38.6
38.3
38.1
393
38.3
39.0
39.0
373
398
2.2
379
37.7
40.1
39.4
39.7
407
39.8
40.5
39.9
386
395
2.2
376
37.3
40.0
38.8
39.5
402
39.4
40.4
39.9
386
395
2.2
376
37.4
40.0
38.5
39.4
401
39.3
41.1
39.9
385
396
2.2
385
37.5
40.2
38.5
39.5
398
39.4
41.1
40.2
387
397
2.3
r
387
37.8
40.4
38.9
39.4
r
39.6
39.5
41.6
40.2
r
38.6
397
2.2
r
384
r
37.8
40.6
38.9
39.5
r
399
39.8
r
41.0
r
40.1
r
387
395
P
2.3
P
380
P
37.6
P
40.5
P
39.2
P
39.2
P
396
P
39.4
P
40.9
P
40.0
P
386
Nondurable goods
Overtime hours
Food and kindred products
Tobacco manufactures $
Textile mill products
Apparel and other textile products
do
do....
do
do....
do
do....
390
2.8
397
38.1
40 1
35.4
39 1
2.8
397
38.8
396
35.7
392
2.9
395
38.6
40 1
35.8
392
2.9
394
40.7
398
35.9
389
2.8
393
40.2
388
35.2
389
2.8
395
39.4
390
35.5
387
2.7
395
38.8
387
35.5
386
2.6
398
38.1
378
35.1
368
2.5
39 1
36.1
323
31.4
389
2.6
402
38.3
383
35.5
385
2.5
395
37.3
376
35.0
384
2.6
394
36.6
377
34.7
38.5
2.5
394
37.2
379
34.8
38.6
2.5
39.5
r
38.4
r
37.8
35.1
r
P
do....
do
do....
do
do....
do....
42.2
37 1
41.5
41 8
40.0
36.7
42.5
373
41.6
432
40.3
36.8
42.7
373
41.7
43 1
40.5
36.4
42.5
373
41.7
429
40.5
36.7
43.0
37 1
42.2
43 1
39.7
36.2
42.4
37 1
41.5
422
39.9
36.7
42.0
37 1
41.2
425
39.6
36.5
41.8
37 1
41.3
427
39.4
36.1
41.3
369
41.0
443
37.9
34.1
42.3
374
41.2
435
40.0
35.6
41.8
37.1
40.7
43.5
39.6
35.8
42.1
371
40.7
440
39.8
35.6
41.8
368
41.0
44 1
39.9
35.6
do....
do....
do....
do
do....
do
39.6
32.2
38.5
302
36.2
32.6
39.4
32.2
38.6
30 1
36.3
32.6
39.7
32.2
38.6
30 1
36.3
32.6
39.5
32.2
38.6
30 1
36.4
325
39.2
32.1
38.5
30 1 .
36.0
325
39.1
32.0
38.4
299
36.2
32.6
39.2
32.1
38.5
300
36.2
32.6
39.3
32.0
38.4
299
36.2
32.6
38.5
31.7
38.1
29.7
36.2
32.5
39.2
32.0
38.5
29.9
36.2
32.6
39.0
31.9
38.4
29.8
36.3
32.6
38.8
31.8
38.3
29.8
36.2
32.7
38.8
32.0
38.5
30.0
36.3
32.7
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
169.39
13755
2.32
836
4189
10.61
34 17
9.74
30.45
3184
169.96
13905
2.58
801
4169
10.57
3454
10.01
31.65
3091
171.04
13997
2.66
800
4235
10.65
3468
10.03
31.60
3107
170.96
13983
2.71
790
4226
10.56
3476
10.05
31.58
31 13
169.73
13908
2.76
7.86
41 46
10.52
34.54
10.04
31.91
30.64
168.76
13855
2.77
7.94
4084
10.48
34.45
10.04
32.03
30.22
168.66
13741
2.79
7.75
40 14
10.41
34.21
10.05
32.05
31.24
165.66
136.28
2.73
7.28
39.44
10.43
34.25
10.03
32.11
29.38
168.93
13780
2.73
7.76
39.93
10.46
34.64
10.01
32.27
31.13
167.92
136.61
2.73
7.61
39.31
10.40
34.36
10.06
32.14
31.32
167.23
135.98
2.65
7.53
38.92
10.36
34.26
10.05
32.21
31.25
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Transportation and public utilities $
Wholesale and retail trade
Wholesale trade
Retail trade
Finance, insurance, and real estate $
Services
39.0
393
24
24
38.7
2.6
38.4
P
2.6
P
39.4
P
38.8
P
r
39.9
r
37.4
r
37.8
r
37.8
35.1
P
35.2
r
42.1
r
37.0
r
P
41.6
P
44.1
40.1
r
35.7
40.9
43.3
r
40.1
r
35.9
P
40.5
P
44.3
P
39.6
P
r
r
39.4
31.9
r
38.5
29.9
36.3
32.6
P
39.4
P
32.0
P
38.6
P
30.0
P
36.4
P
167.99 166.52 166.54
136.00
13679 135.78
r
r
2.51
2.48
2.58
7.75 r r7.49 r r7.58
38.79
38.68
39.06
10.34
10.37
10.31
34.47
34.32
34.60
10.14 10.09
10.10
r
r
32.24
32.37
32.29
31.20 r30.73 r30.55
P
166.12
P
136.60
P
2.39
P
7.49
P
38.38
P
10.27
P
34.46
P
10.16
P
32.45
P
42.0
r
37.1
r
41.0
r
39.2
31.9
38.6
29.8
36.1
r
32.7
36.7
35.7
32.7
AGGREGATE EMPLOYEE-HOURS t
Seasonally Adjusted
Indexes of employee-hours (aggregate weekly): fl
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....
See footnotes at end of tables.
1072
102.4
122.6
1150
98.9
995
98 1
109.8
106.3
105.5
110.3
1037
114.5
115.0
1080
1009
134.5
1089
97.8
980
976
111.9
105.1
106.5
111.7
1045
117.4
119.3
1088
102.6
140.4
1088
99.7
1003
986
112.1
105.8
106.7
112.3
1046
117.6
119.4
1085
102.0
142.9
1074
99.0
996
98 1
112.1
105.2
106.9
112.4
1048
117.9
119.3
167.34
13903
2.72
752
41 72
10.55
3478
10.03
31.71
2831
1078
99.8
142.7
1024
97.3
974
972
112.2
105.2
106.8
112.2
1049
117.4
119.6
1077
99.7
143.9
106.1
96.4
964
96.5
112.1
104.2
106.2
111.8
104.4
117.6
120.4
1073
98.4
145.0
106.9
94.6
940
95.4
112.2
104.4
106.3
111.8
104.3
117.4
120.6
1063
96.3
145.5
104.2
92.5
914
94.1
111.8
103.6
105.4
111.0
103.3
117.4
120.8
104.3
91.4
141.6
96.8
88.0
87.3
89.0
111.4
102.8
105.2
109.7
103.4
116.9
120.3
106.2
95.6
143.7
102.9
91.9
90.6
93.8
112.1
103.7
106.3
110.7
104.6
116.8
120.9
105.6
93.9
142.6
101.1
90.3
89.1
92.0
112.0
103.3
105.9
110.2
104.2
117.1
121.1
105.2
93.0
138.4
100.9
89.3
87.8
91.5
111.9
102.8
105.5
109.5
103.9
117.0
121.5
105.7
93.3
133.6
104.5
89.2
87.8
91.4
112.5
102.6
106.5
110.3
105.1
117.9
121.8
104.9
r
91.9
128.2
101.0
r
88.4
r
86.7
91.0
112.1
102.2
105.8
110.0
104.2
117.4
121.9
105.0
r
91.8
126.8
102.2
r
88.2
r
86.5
r
90.7
112.2
101.9
106.1
109.5
104.7
117.6
121.8
30.52
P
104.5
P
90.5
P
122.8
P
100.9
P
87.0
P
84.8
P
90.3
P
112.2
P
101.8
P
105.7
P
109.4
P
104.3
P
117.8
P
122.2
SURVEY OF CURRENT BUSINESS
S-12
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1982
1981
1981
Annual
September 1982
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS t
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....
6.66
9.17
9.94
7.27
7.02
775
7.49
6.55
5.49
7.50
977
7.45
8.00
6.94
9.35
6.80
5.46
7.25
10.05
10.80
7.99
772
853
825
7.00
591
8.27
1081
8.20
8.81
7.62
1039
7.43
5.96
7.24
10.09
10.79
8.02
7.75
857
8.28
7.15
5.92
8.40
1078
8.21
8.83
7.65
10.44
7.43
5.97
7.30
10.12
10.92
8.03
7.74
859
8.29
7.13
5.99
8.41
10.99
8.26
8.84
7.73
10.37
7.55
5.96
7.40
10.27
1107
8.16
7.87
870
841
7.16
601
8.53
1122
8.33
8.96
7.75
1049
7.59
6.05
7.42
10.25
11.16
8.16
7.89
873
8.44
7.10
6.06
8.50
1097
8.39
9.04
7.80
10.74
7.60
6.05
7.47
10.39
11.18
8.20
7.94
877
8.50
7.16
6.05
8.54
11 10
8.42
9.08
7.83
10.74
7.68
6.11
7.45
10.41
11.26
8.27
8.00
883
8.55
7.16
6.12
8.56
11.08
8.53
9.18
7.90
10.76
7.81
6.19
7.55
10.65
11.59
8.42
8.17
892
8.68
7.38
6.28
8.70
11.23
8.55
9.19
7.98
10.79
7.93
6.27
7.54
10.62
11.32
8.34
8.10
889
8.65
7.27
6.19
8.62
1120
8.57
9.20
7.96
1082
7.94
6.29
7.55
10.62
11.33
8.37
8.13
891
8.68
7.28
6.21
8.65
11.15
8.64
9.18
8.01
10.89
8.00
6.32
7.58
10.65
11.32
8.42
8.19
894
8.72
7.24
6.21
8.72
1124
8.69
9.24
8.03
1089
8.07
6.35
7.63
10.66
11.46
8.45
8.22
901
8.77
7.41
6.23
8.80
11.23
8.79
9.26
8.05
11.08
8.16
6.38
r
7.64
10.82
11.41
8.50
8.25
906
8.81
r
7.59
6.30
8.86
1131
r
8.83
r
9.27
r
8.09
1121
r
8.23
6.41
7.67
10.91
11.53
8.55
8.31
r
9 11
r
887
r
7.63
r
633
r
8.93
1138
r
8.85
r
9.31
r
8.18
1126
r
8.30
r
6.40
P
7.69
P
10.95
P
11.61
P
8.51
P
8.25
P
909
P
8.84
P
7.61
P
6.36
P
8.92
P
1145
P
8.88
P
9.34
P
8.25
P
1121
P
8.36
P
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..
6.55
6.32
6.85
7.74
507
4.56
784
7.53
8.30
10.10
6.52
4.58
8.87
5.48
696
488
5.79
585
7 18
6.93
7.43
8.88
552
4.96
860
8 18
9.12
11.38
7.16
4.99
9.70
5.93
757
525
6.31
641
722
6.97
7.45
9.46
550
4.92
873
820
9.16
11.43
7.18
4.97
9.67
5.91
758
5.24
6.28
634
7.23
6.96
7.48
8.70
565
4.96
867
8.25
9.19
11.32
7.23
4.97
9.87
5.94
765
525
6.38
641
736
7.08
7.56
876
569
5.04
895
837
9.38
11.55
7.29
5.09
9.95
6.04
770
537
6.39
652
733
7.07
7.51
8.67
572
5.05
882
840
9.37
11.47
7.30
5.09
9.94
6.01
773
529
6.43
658
738
7.12
7.61
9.04
573
5.04
889
842
9.42
11.58
7.31
5.11
10.05
6.04
779
532
6.52
667
7.44
7.20
7.67
8.96
572
5.04
896
848
9.53
11.59
7.38
5.15
10.06
6.02
781
5.31
6.47
666
767
7.42
7.82
9.21
576
5.18
906
858
9.68
11.91
7.51
5.19
10.10
6.17
794
543
6.56
679
754
7.31
7.74
9.56
576
5.13
899
856
9.68
12.29
7.49
5.22
10.13
6.16
794
542
6.62
679
7.57
7.34
7.79
9.72
576
5.15
903
859
9.71
12.32
7.45
5.24
10.07
6.16
793
5.43
6.59
677
765
7.43
7.90
10.05
579
5.18
9 11
859
9.81
12.50
7.52
5.32
10.14
6.18
797
544
6.64
681
7.66
7.43
7.92
9.93
579
5.16
9 14
861
9.83
12.52
7.56
5.32
10.17
6.20
803
547
6.77
685
r
770
r
7.46
r
r
777
r
7.52
r
P
773
P
7.47
P
7.84
P
942
P
582
P
5.19
P
9 40
P
Seasonally adjusted:
Private nonagricultural payrolls
Mining
Construction .. ..
Manufacturing
Transportation and public utilities
Wholesale and retail trade
Finance, insurance, and real estate
Services
dollars
do....
do
do
do....
do....
do....
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: fl
Current dollars, seasonally adjusted
1977 dollars seasonally adjusted $ . . .
Spendable earnings (worker with 3 dependents):
Current dollars, seasonally adjusted
1977 dollars, seasonally adjusted t
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
7.90
10.35
r
579
5.18
r
928
r
866
9.95
12.53
r
7.64
5.36
10.20
r
6.20
r
8 01
547
r
671
r
684
r
7.87
1032
581
r
5.18
940
r
872
10.01
12.40
r
7.67
r
5.31
10.26
6.20
r
806
r
547
r
677
r
686
Seasonally adjusted index
1967 — 100..
876
P
10.01
P
12.39
P
7.63
P
5.38
P
10.41
P
6.21
P
809
P
547
P
684
P
690
P
666
9 17
994
727
8.87
5.48
5.79
585
725
1005
1080
799
9.70
5.93
6.31
641
727
10.09
1082
803
9.68
5.94
6.28
642
734
10 12
1090
809
9.84
5.98
6.38
651
737
1027
1095
8 14
9.86
6.03
6.39
654
740
1025
1106
8 16
9.89
6.03
6.43
658
745
1039
11 14
820
9.97
6.06
6.52
663
746
10.41
1122
820
10.02
6.08
6.47
665
752
1065
1152
838
1009
6.09
656
671
753
1062
11 34
834
10.13
6.10
6.62
672
754
1062
1139
837
10.15
6.12
6.59
672
759
1065
11 43
8 44
10.18
6.16
6.64
680
765
1066
11 54
848
10.24
6.20
6.77
685
767
1082
11 51
852
1030
r
6.22
r
671
r
690
770
1091
11 56
856
1027
6.22
r
677
r
695
P
1095
p
ll
59
P
857
P
1038
P
6.25
P
684
P
1273
935
1342
1219
1294
127.2
1278
127.0
1254
1389
926
1483
1319
141 9
139.4
138 1
138.1
137 3
139 1
922
1490
1312
142 4
139.0
138 4
137.8
137 4
140 5
925
1495
1328
143 5
141.6
1397
140.1
139 2
141 4
92 1
151 7
1335
144 7
141.5
141 0
140.4
139 7
1420
92 1
151 4
1347
145 4
142.3
140 5
141.4
140 8
1430
923
153 4
1357
146 4
143.5
141 2
142.6
142 1
1435
923
1534
1366
146 9
144.3
141 7
142.0
1426
1449
929
1562
1399
148 9
145.5
142 1
143.1
143 4
1450
928
156 0
1379
149 1
146.0
1425
143.3
143 7
145 4
933
1560
138 1
1499
146.3
142 8
143.8
143 9
146 3
937
156 5
1387
150 8
146.9
143 7
144.9
145 1
1477
937
156 8
1399
151 8
148.2
145 1
148.0
146 5
148
1
r
93 1
159 6
1397
152 5
149.1
145 2
147.2
147 3
148 8
929
161 6
1405
153 3
148.3
145 4
148.5
148 5
"1497
P
93 1
P
1620
P
1407
P
154 0
P
149.8
P
1462
P
150.3
P
149 7
11 73
1842
1292
16 78
1303
16 85
1309
16 98
1327
17 31
1362
17 66
1369
17 74
1369
17 72
1378
17 89
1383
17 99
1383
18 00
1385
18 07
14 15
18 39
14 15
18 40
14 45
18 70
P
14
P
3.66
3.59
382
3.67
992
1064
10.56
1066
1065
1061
1079
1100
1125
1139
1109
11 22
1129
1129
23493
17274
254 74
170 13
25663
170 18
25837
17009
25795
16805
25974
168 44
26150
168 82
261 10
16791
25869
165 93
26355 263 15
168 62 168 90
26489
16969
26775 r267 68
16989 168 14
26873
167 75
P
269
P
20640
151.65
22057
147.05
22205
147.35
22365
147.33
22333
145.40
224 13
145.35
226 03
145.83
22573
145.16
235 10
39706
36778
28862
31078
25545
351.25
176.46
26997
14738
209.60
190 71
25520
439 19
39852
31800
34291
28074
382.18
190.95
29408
158 03
229.05
208 97
25774
439 92
40786
31759
34280
28230
383.90
19385
294 10
161 92
227.96
209 85
25988
447 30
40841
32040
345 32
284 86
389.87
19483
29606
16223
232.23
210 89
25974
450 85
39631
32232
346 26
287 78
390.04
19449
29645
162 17
230.04
211 25
261 18
456 13
41962
32395
35007
286 60
388.65
19232
29838
157 64
232.77
213 85
26220
461 32
41478
32554
351 68
288 56
393.96
19268
30069
158 54
236.02
216 78
26224
466 37
41775
32997
356 73
291 65
395.36
19445
30225
160 89
234.21
217 12
25595
456 89
38595
31238
336 28
27765
388.85
19189
300 13
157 47
237.47
219 32
26239
463 03
40639
32693
352 93
291 04
39710
19466
303 31
159 35
239.64
220 68
26199
465 16
419 21
32727
35284
289 93
392.73
19466
303 72
159 64
239.22
22003
26227
454 76
415 44
325 85
350 45
291 47
393.43
19591
304 45
161 02
240.37
221 33
26552 '267 40 26998
454 12 r463 10 rr465 86
429 75 427 88 r439 29
329 55 334 05 r333 45
355 90 r 360 59 r357 11
294 14 T297 99 299 92
394.60 399.84 r404.24
19778 199 02 202 12
308 35 r309 19 r311 92
163 01 164 65 167 93
245.75 rr242.23 rr245>5
222 63 224 35 227 07
129
119
123
119
112
110
111
109
106
103
96
88
773
7 00
56
18 98
78
167 88
(*)
(l)
HELP- WANTED ADVERTISING
See footnotes at end of tables.
6.37
87
85
80
P
271 46
P
458 81
P
437
70
P
331
89
P
357 24
P
298 38
P
410.15
P
203 07
P
313 08
P
168 48
P
248.98
P
228 39
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
S-13
1982
1981
Annual
July
Aug.
Oct.
Sept.
Nov.
Jan.
Dec.
Feb.
Mar.
Apr.
June
May
Aug.
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES H
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number..
Workers involved in stoppages:
Beginning in month or year
thous..
Days idle during month or year
do....
187
795
20,844
145
23
9
5
7
2
5
729
16908
80
1576
36
1018
26
899
13
734
12
141
3,837
3410
3012
2874
2680
2753
3228
25373
3,350
23939
3,048
2 114
2,743
1610
2656
1680
2488
1996
2,592
2286
3061
3.1
3.0
3.2
34
2,280
3,486
1 061.9 10049
2.9
35
2,174
10010
3.0
3.7
2,142
997.2
3.5
3.9
2,392
10797
2
2
r
3
9
r
13
17
11
43
636
41
894
37
852
6
200
3
237
8
352
3935
4681
4723
4892
4760
4388
4328
3272
3,778
3328
4,470
2272
4,376
2418
4,282
2347
4,067
1988
3,729
2398
3,707
4.3
4.1
3,171
1,592.5
5.1
4.1
3,801
1,764.2
5.0
4.0
3,908
1,781.8
4
146
36
480
r
r
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous..
State programs (excl. extended duration prov.):
Initial claims
thous
Insured unemployment, avg. weekly
do....
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries, average weekly
thous...
Benefits paid @ ..
mil. $..
Federal employees, insured unemployment,
average weekly
thous..
Veterans' program (UCX):
Initial claims
do....
Insured unemployment avg weekly
do ..
Beneficiaries, average weekly
do....
Benefits paid
.... mil $
Railroad program:
Applications
.. . .thous
Insured unemployment, avg. weekly
do....
Benefits paid
mil. $..
3.9
3.5
2,864
14,590.3
2,614
13,206.7
r
4.9
4.6
4.3
4.3
4.6
46
3,944 r 3,672
3,257
2,072.6 l,849.9 1,573.4
33
p
43
47
3,326
l 689 1
30
32
25
25
29
32
36
39
40
40
38
29
28
267
56
56
2949
193
40
41
2303
22
44
44
228
19
44
45
214
15
34
35
17 1
11
26
26
130
9
22
21
10 1
11
19
20
102
8
16
15
71
8
13
12
53
10
11
10
5.1
9
10
8
40
8
9
7
34
10
8
7
33
162
34
176.1
184
40
210.8
41
29
11.5
13
29
7.1
15
35
15.0
21
37
16.0
13
4
16.4
19
56
25.3
22
73
30.5
11
67
28.0
9
65
33.9
5
52
26.3
5
43
19.1
36
41
18.6
r
68
18.0
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances
mil $
Commercial and financial co paper total
do
Financial companies
do
Dealer placed
do
Directly placed
do
Nonfinancial companies
... do
Agricultural loans and discounts outstanding of
agencies supervised by the Farm Credit Adm.:
Total end of period
mil $
Farm mortgage loans:
Federal land banks
. do
Loans to cooperatives
do
Other loans and discounts
. do
54744
121 597
87667
19904
67763
33930
68648
78 188
76412
77072
77614
78283
78 103
78 188
78387
79,035
79,758
80695
80972
81,415
81,659
38 138
9506
21005
46463
9 124
22619
43450
8897
24065
44064
8932
24075
44720
8950
23944
45386
9400
23497
45961
9315
22827
46463
9 124
22619
46899
9498
21990
47,324
9760
21,951
47,966
9581
22,211
48,425
9758
22,512
48838
9260
22874
49,289
8670
23,456
49,582
8355
23722
Federal Reserve banks, condition, end of period:
Assets total #
mil. $..
171,495
Reserve bank credit outstanding, total # .. do....
Time loans
do
U.S. Government securities
do....
Gold certificate account
. do
137,644
1809
121,328
11 161
Liabilities total #
Deposits total
Member-bank reserve balances
Federal Reserve notes in circulation
do
171 495
do. ..
do....
do....
31,546
27,456
124,241
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. $..
69226 63721 64577 65048 66072 68749 69226 70088 70468 71 619 71 128 73756
161 114 151 264 153 651 161 717 164 124 166 317 161 114 167 271 167 460 166 373 172 540 176 775 179 855
111 908 106 431 107 258 111 420 113308 113'411 111 908 112 112 110656 109 657 113 786 117 756 120 923
30357 26807 27824 30440 30716 30728 30357 30666 30,974 31,844 32,723 34,336 35,446
81551 79624 79434 80980 82592 82683 81551 81446 79682 77813 81063 83420 85477
49206 44833 46393 50297 50816 52906 49206 55 159 56,804 56716 58754 59019 58,932
176,778 167,377 168,429 181 639 167,256 171,676 176,778 179,941 170,321 172,249 182,959 173,574 173,810 177,673 180,258
143,906 134,957 136,699 138,288 134,665 139,140 143,906 141,871 138,575 139,700 148,335 141,249 140,244 143,812 144,502
458
1799
2,646
2217
449
1,638
1058
1,180
1601
232
1027
1601
924
2486
1254
130,954 123,172 124,522 124 330 123,005 126,539 130,954 128,230 125,410 125,589 134,257 129,407 127,005 132,640 132,858
11 151 11 154 11 154 11 152 11 152 11 152 11 151 11 151 11,150 11,150 11,149 11 149 11,149 11,149 11 148
176 778 167 377 168 429 181 639 167 256 171 676 176 778 179 941 170,321 172,249 182,959 173,574 173,810 177,673 180,258
30816 29690 30398 41 924 28742 29053 30816 39324 29,630 30,073 38,357 26,834 25,325 29,893 29,076
25,228 26,011 27,045 27,243 23,672 24,312 25,228 25,066 24,964 26,357 24,702 23,463 20,198 24,974 24,993
131,906 124,765 125,134 125,050 125,351 129,086 131,906 126,835 126,869 128,855 130,189 132,619 134,228 134,115 135,374
41011
40,667
344
1,751
-1 159
*40 097
'40,067
1
30
4,617
x
-l 471
Ml 918
119,485
108,595 97,112 95313
187 518 173 365 187 335
140,376 122,000 127,927
4,161
4,526
5,235
1,784
1,106
2,148
21,896 27,912 36,984
362 502 341 127 349 779
Mi.eoe
*312
'642
1
-277
41026
40,731
295
1,408
893
r
39,864
r
39,573
r
291
r
669
r
40086
39,861
225
510
-166
100 656 99,021 106,737 108,595 99,682 95,764 101,234 94,010 95,278 102,299 97,375
209 236 163 230 186 099 187 518 170 840 169,273 172,931 157,940 179,476 178,515 158,878
135,847 123,561 137,774 140,376 127,443 125,658 131,868 120,484 133,774 133,268 120,287
4,594
4,640
5,710
4,521
5,133
5,328
4,492
5,235
4,985
5,129
4,123
1,575
2,345
2,958
1,148
1,133
3,645
3,331
2,148
2,198
1,566
1,114
44,149 18,025 22,158 21,896 19,273 19,762 19,695 16,143 23,721 20,392 17,299
349 069 350 216 356 985 362 502 367 200 370,510 372,461 373,733 381,227 385,108 393,402
102,844
40593
40,177
416
1,473
835
40711
40,433
278
1,149
719
40951
40,604
347
695
269
41918
41,606
312
642
-277
43210
42,785
425
1,526
-1026
41 280
40,981
299
1,713
-1,282
39230
38,873
357
1,611
-1080
39558
39,284
274
1,581
-1 140
39552
39,192
360
1,105
-508
39,567
39,257
310
1,205
-656
-153
182,564
136,351
4,850
900
20,735
401,576
Demand total #
Individuals, partnerships, and corp
State and local governments
U.S. Government
Domestic commercial banks
do
dp....
do....
do....
do....
228 086
158,283
5,829
1,108
41,407
Time total #
Individuals, partnerships, and corp.:
Savings
Other time
do
314 128
do
do....
72670
205,862
do....
do....
do....
do....
. .. do
do....
433,313
174,581
9,988
26,073
111819
135,555
76971 76358 76 172 75364 74359 76758 76,971
250,511 232,026 239,712 240,184 242,481 245,714 250,511
470,988 442,499 452,309 460 044 455,089 468,089 470,988
195,499 180,450 184,956 187,874 187,174 191,818 195,499
8,616 10,204
9,154
8,483 10,672 10,756
10,756
26,729 25,957 27 137 26,273 25,408 26,385 26,729
124 444 118 905 120 264 121 596 122 302 123 512 124,444
146,367 132,755 139,346 145,053 137,542 146,880 146,367
do....
do....
do .
do....
118,098
39,611
35,239
78.487
116,905 118,104 117,519 117,457 116,293 119,081 116,905 118,503 117,596 117,936 115,768 117,554 115,122 115,404 115,831
36,819 40,644 38,843 37,771 38,310 37,510 36,819 38,090 38,374 38,570 36,999 36,945 36,997 37,659 37,113
30872 33397 31975 31 632 31,404 30690 30,872 30,785 30,747 30,345 29,548 29,158 29,196 28,957 30,161
80.086 77.460 78.676 79.686 77.983 81.571 80,086 80,413 79,222 79,366 78,769 80,609 78,125 77,745 78,718
Loans (adjusted), total §
Commercial and industrial
For purchasing or carrying securities
To nonbank financial institutions
Real estate loans
Other loans
Investments, total
U.S. Government securities, total
Investment account *
Other securities
See footnotes at end of tables.
79,286 79,314 80,434 78,902
252,236 253,750 255,514 257,536
470,410 472,278 476,519 479,517
198,009 198,819 202,573 204,731
7,484
7,782
9,163
8,675
26,756 26,762 27,913 28,096
126 157 126,840 127,306 128,538
144,998 144,382 140,837 138,662
80,795 79,642 78,899 80,977
263,021 269,351 276,274 280,606
486,083
209,058
9,056
27,768
129,098
143,552
490,863
212,428
8,700
27,666
129,689
144,398
488,186
210,500
9,421
27,368
130,082
143,263
495,430
212,741
10,257
28,090
131,003
151,608
S-14
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1981
Aug.
July
Annual
September 1982
Sept.
1982
Oct.
Nov.
Apr.
May
1,332.4 1,342.5
115 1 114 4
2320
233 1
985.2
995.0
1,352.6
1166
2340
1,002.0
1,361.9 1,368.7
1163
1158
2349 r 2359
1,010.7 rl,017.0
Dec.
Jan.
Feb.
Mar.
June
July
Aug.
FINANCE—Continued
BANKING— Continued
Commercial bank credit, seas, adj.:
Total loans and securities
fl
U S Treasury securities
.
Other securities
Total loans and leases f[
bil. $..
do
do
do....
1,239.6
1100
2144
915.1
1,316.3
111 0
2314
973.9
1,302.8
116 4
2223
964.0
1,312.2
1156
2238
972.7
1,317.8
1132
2256
979.0
1,324.0
1125
2287
982.8
1,327.5
1103
231 2
986.1
1,316.3
1110
231.4
973.9
1,320.0
114 1
231.5
974.5
1,376.1
1165
2359
1,023.7
Money and interest rates:
Discount rate (N.Y.F.R. Bank), end of year or
month
percent
12 10
1400
1400
1400
1400
1300
12.10
12.00
12.00
1200
12.00
12.00
12.00
11.81
2
2
14.20
14.59
14.83
15.11
15.28
15.26
14.87
14.63
14.45
14.11
14.14
13.93
13.73
13.63
2
12.25
2
2
14.17
2
14.14
14.77
14.60
15.03
14.69
15.38
15.04
15.47
15.68
15.80
15.23
15.53
14.67
15.37
14.44
15.22
14.93
15.07
15.13
15.39
15.11
15.57
14.74
15.01
15.01
14.96
15.05
15.03
3
12.78
3
12.29
3
4
15.32
3
14.76
3
13.73
17.10
16.09
14.47
17.22
16.62
15.32
16.11
15.93
15.01
14.78
14.72
13.96
12.00
11.96
11.72
12.13
12.14
11.24
13.06
13.35
12.56
14.47
14.27
13.58
13.73
13.47
12.89
13.95
13.64
13.09
13.29
13.02
12.61
14.00
13.79
12.69
12.90
13.00
12.15
10.34
10.80
9.93
3
14.077
14.699
15.612
14.951
13.873
11.269
10.926
12.412
13.780
12.493
12.821
12.148
12.108
11.914
9.006
336 341
316 447
28750
26885
29299
25799
30 158
26 133
27 158
26,693
26526
26 125
30914
26595
22574
25,814
22758
25,460
27986
28,289
28449
27,217
28389
27,413
31 098
28586
27415
26,792
do
28290
28323
29406
26836
27370
26656
26888
27 150
27462
28,684
29 197
29737
27514
do.
do....
do
do....
11973
5,439
3299
4,826
11458
6,385
2913
4,616
12384
7,158
2558
4,568
11,610
5,327
2621
4,559
12,430
5,287
2571
4,279
13264
4,089
2517
4,142
11,775
4,433
3,326
4,385
12,431
4,857
2,695
4,254
12,519
5,002
2,631
4,536
12,790
5,343
3,010
4,618
12,765
6,135
2,902
4,449
13460
5,700
2887
4,762
12,485
4,607
2,711
4,785
do. ..
do
do
8059
11 706
445
8396
11663
520
9,000
12263
532
7,490
11 753
475
8,073
11379
479
7,352
11 592
508
7,474
11070
434
7,283
11 730
364
7,183
12 143
411
7,871
12416
544
8,429
12528
478
8,182
13361
459
7,332
12551
441
do
26739
25895
26431
25834
26770
26689
26445
27075
26472
27509
27798
28388
26944
do.
do
do
do....
11944
4 491
2767
4,561
11 704
4002
-2668
4,629
11,957
4476
2692
4,557
11686
4 123
2830
4,455
11997
4825
2795
4,405
12 104
4503
2886
4,480
11,765
5030
2,637
4,358
12,602
4550
2,830
4,378
12,353
4329
2,753
4,365
12,694
4799
2,878
4,437
12,778
5009
2,941
4,381
13,560
4826
2,849
4,458
12,551
4412
2,780
4,488
do....
do....
do
7,003
11 590
386
6,537
11486
364
6,921
11,692
375
6,466
11,429
353
7,509
11,358
404
7,284
11533
365
7,595
11,266
460
7,339
11,885
408
7,211
11,836
396
7,638
11,917
493
7,470
11,991
408
7,527
12,854
392
7,271
11,939
378
Federal intermediate credit bank loans
do....
Home mortgage rates (conventional 1st
mortgages):
New home purchase (U.S. avg.)
Existing home purchase (U.S. avg.)
percent..
do....
1287
12.22
Open market rates, New York City:
Bankers' acceptances, 90 days
do....
Commercial paper, 6-month $
do....
Finance co. paper placed directly, 6-mo @ do....
Yield on U.S. Government securities (taxable):
3-month bills (rate on new issue)
percent..
14.62
12.58
11.28
3
11.506
1068
6
13.43
CONSUMER INSTALLMENT CREDIT
Total extended and liquidated:
Unadjusted:
Extended
Liquidated .. .
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
Credit unions .
Retailers
By major credit type:
Automobile
Revolving
Mobile home
306 076
304 628
do
313 472
333 375 320 656 324 161 328 187 328 652 329 053 333 375 330 135 327 435 327 131 328 363 329 338 331 851 332 471
do
do....
do
do....
147 013
76,756
44 041
28,448
149 300 145 382 146 006 147 060 146 889 146 687 149 300 148 162 146 922 146 454 146 616 146 147 146 775 146 745
89,818 83,924 86 152 88,698 89,583 89,956 89,818 88,925 89,009 89,591 90,674 91,958 93,009 93,353
45954 46096 46605 46791 46416 46092 45954 45907 45586 45632 45450 45472 45882 45698
29,551 26,396 26,477 26,594 26,922 27,510 29,551 28,179 27,013 26,530 26,537 26,536 26,645 26,710
By major credit type:
Automobile
do....
Revolving
do
Mobile home
do....
FEDERAL GOVERNMENT FINANCE
116,838
58352
17322
126,431 121,476 123 481 125,703 126,344 126,385 126,431 125,525 125,294 125,559 126,201 127,220 128,415 128,359
63049 56764 57280 58318 58451 58923 63049 61433 59514 58491 58641 58647 59302 59824
17760 17959 18,124 18,300 18,380 18,486 18,397 18,343 18,363 18,402 18,479 18,543 18,601
18,486
Total outstanding end of year or month #
By major holder:
Commercial banks
Finance companies
Credit unions
Retailers
Budget receipts and outlays:
Receipts (net)
Outlays (net)
Budget surplus or deficit (—)
. . .
Budget financing total . . .
Borrowing from the public
Reduction in cash balances
Gross amount of debt outstanding
Held by the public
mil. $.. 1517,112
'576 675
do
do.... '-59,563
60,594 45,467 44,317 57,407 55,269
53698 63573 54959 76875 45,930
9,339
6,897 -18,105 -10,642 -19,468
do.... '59 563
5 119 -6,897 518 749 12522 20516 -8,109
do
8577 10374 10972 14274
9783
'70515
6501
6,242 -17,892
1,550
do.... '-10,952
-1,382 -15,474
8,375
'914317 '1003941 979 388 986 312 1 003 941 1011 111 1 019 324 1 034 716 1 043 817
do
do.... '715,105 '794,434 779,356 785,857 794,434 804,808 815,780 830,055 839,837
'599,272 48,142
'657 204 58486
'-57,932 -10,343
'57,932 10343
'79 329
3383
'-21,397
6,960
47,976
53095
-5,119
75,777 36,753 66,353
66,073 55683 59629
9,704 -18,930
6,724
18,773 -8,711 21,424 -4457
2527
3 187
12305
3260
6,468 -11,238 18,237 -7,717
1 066 393 1 070 734 1 076 798 1 084 658
862,809 865,336 868,523 871,783
43,042 45,291
57822 63546
-14,780 -18,255
14,993
10693
4,300
1 053 325
850,504
Budget receipts by source and outlays by agency:
Receipts (net), total
mil. $.. '517,112
'244 069
Individual income taxes (net)
do
Corporation income taxes (net)
do.... '64,600
Social insurance taxes and contributions
(net)
mil. $.. '157,803
Other
do
'50 640
'599,272
'285 917
'61,137
48,142
24439
1,715
47,976
21615
1,607
60,594
30882
8,659
45,467
22555
1,265
44,317
21 775
745
57,407
25770
10,220
55,269
32646
2,473
43,042
21007
1,293
45,291
13391
6,910
75,777
41672
7,342
36,753
9576
1,202
66,353
32273
10,589
'182,720
'69 499
15,206
6783
18,190
6565
14,516
6537
15,369
6278
15,795
6002
14,641
6777
14,575
5574
15,109
5633
18,752
6238
21,593
5 170
20,483
5493
17,572
5918
do
'576 675
do.... '24,555
do
'132840
'657 204
'26,030
'156035
58486
1,123
14392
53095
2,750
13239
53698
604
13624
63573
3,146
14351
54959
3,072
13889
76875
4,793
15880
45930
4,573
13783
57822
2,984
14239
63546
4,394
16042
66073
2,484
16 013
55683
1,362
14826
59629
1,526
16041
mil. $.. '194,691
'76 691
do
'4,850
do....
do
'21 135
'230,304
'92 633
'5,421
'22 904
21,141
7522
417
2992
19,342
7793
401
786
20,905
6537
348
2008
21,249
8268
658
3010
19,770
8204
517
851
33,866
13277
551
3214
7,319
7,935
443
760
20,679
8 164
493
1908
21,628
7598
524
2269
21,898
9641
464
3236
19,883
8286
486
751
21,087
14090
497
1 923
Outlays total #
Agriculture Department
Defense Department military
Health and Human Services
Department §
Treasury Department
National Aeronautics and Space Adm
Veterans Administration
GOLD AND SILVER:
Gold:
Monetary stock U S (end of period)
mil $
Price at New York :{4
dol. per troy oz..
Silver:
Price at New York it
dol. per trov oz..
See footnotes at end of tables.
11 160
612.509
20.632
11 151 11 154 11 154 11 152 11 152 11 152 11 151 U 151 11 150 11 150 11 149 11 149 11 149 11 149
459.614 408.839 410.960 444.095 437.195 413.671 408.743 384.125 374.071 330.248 350.488 334.403 314.982 340.102 365.952
10.518
8.631
8.925
10.035
9.251
8.547
8.432
8.030
8.268
7.213
7.311
6.674
5.578
6.497
7.136
S-15
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCED—Continued
MONETARY STATISTICS
bil $.
1372
1456
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml
."
bil. $..
M2
. . . . .
d o
M3
do....
L (M3 plus other liquid assets)
do
401.4
15917
18730
22676
4296
1747 1
20899
25193
1117
263.9
21.8
30.0
55.3
404.0
7064
236.3
1198
239.9
65.6
387
110.3
3616
8129
286.4
Currency in circulation (end of period)
Components (not seasonally adjusted):
Currency
Demand deposits
Other checkable deposits $$
Overnight RP's and Eurodollars *
Money market mutual funds
Savings deposits
Small time deposits @
Large time deposits @
do...
do....
do....
do....
do....
do....
do..
do....
Measures (seasonally adjusted): $
Ml
M2
M3
.
L (M3 plus other liquid assets)
do..
do
do
do....
Components (seasonally adjusted):
Currency
Demand deposits
Savings deposits
Small time deposits @
Large time deposits @
do
do..
do
do..
do
1383
1385
430.4
432 1
1 756 1 17669
20984 2 1154
25220 25442
1213
2376
68.6
423
112.8
365.2
8095
286.6
1213
234.7
69.7
43.1
122.2
355.0
8220
294.8
1388
1427
1456
431.5
4345
17757 17933
2 1324 2 1526
25683 25985
4397
18096
2 1756
26285
1
451.2
18294
2 1999
26538
121 2
236.6
72.4
36.2
137.3
3439
8476
299.8
1229
237.5
75.2
36.9
144.9
342.2
8519
301.8
1254
243.3
78.4
38.1
151.2
343.0
8517
305.4
1385
1208
234.6
71.7
39.6
130.6
347.9
832 1
299.1
1405
1405
1426
437.2
440.0
4534
18492 18429 18619
2,237.4
2
216.0
22172
r
2 682 1 r2 698 2 r2 722 6
1233
243.6
82.5
43.2
154.9
3468
8575
307.6
123.0
228.5
81.5
42.9
156.0
344.5
8685
314.2
1205
2367
3610
8140
293 1
1207
2366
3509
8308
2998
121 1
2347
343 1
8397
302 3
1213
2357
3396
8498
3022
1218
2357
340 9
8568
300 6
123 1
2364
343 6
8547
300 3
1238
2393
3488
8523
3026
1246
2345
3486
8594
3080
125 1
233.0
3507
8699
3126
1482
148 1
445.1
450.5 r454.0
455.5
454.0
18879 r 18889 1
906 41 924 8 19386
2,266.1 2 269.3 r2,290.0 r2,314.3 2,342.1
2754 1 27663
123.8
228.2
83.8
43.0
159.2
346.1
8796
317.4
4473
448.3
4294
4486
431 1
431 2
4329
4364 '4409
1 753 7 17724 1 778 3 17895 18099 18227 1 841 3 18480 18652
2 1025 2 1260 2 138 1 2 151 1 2 1747 2 188 1 r 22043 T22150 r 22358
25304 2,559.7 2 577.2 26000 26293 26428 2 667 8 2 690.2 2,716.6
1465
1440
125.6
236.1
89.5
40.4
161.9
348.1
888.1
317.9
127.2
228.3
85.4
42.8
164.3
347.4
8953
r
320.3
128.3
230.4
87.2
43.1
168.6
347.9
9023
r
323.9
129.8
231.5
87.9
43.4
171.3
r
348.3
r
914 1
r
328.1
130.0
229.3
89.7
44.7
180.0
346.1
9199
332.9
r
452.4
4515
4514
4513
4552
18807 18975 19079 1 923 4 1 946 1
2258 1 r2 279 3 r2 296 0 r2 320 4 23555
2,743.5 2,773.2
1263
233.0
3505
881.6
r
3172
1274
232.7
3509
894.1
r
3216
r
1284
231.0
3499
900.9
3283
1288
230.6
r
3440
r
919.7
r
3356
1295
231 1
3420
9302
3388
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Fed. Trade Comm.):
Net profit after taxes, all industries
Food and kindred products
Textile mill products
Paper and allied products
Chemicals and allied products
..
mil. $
do
do
do....
do
92,579
8222
977
2,789
11 578
101 302
9 109
1 157
,3,110
12973
25201
2293
308
633
3098
22856
2446
198
829
2985
18998
2 120
78
418
2900
20,028
2079
146
436
2764
Petroleum and coal products . .. . .
do
Stone clay and glass products
do....
Primary nonferrous metal
do
Primary iron and steel
do....
Fabricated metal products (except ordnance,
machinery and transport, equip.)
mil. $ .
25 133
1,833
2768
2,334
23733
1627
2 124
3507
6 103
555
290
1421
5464
267
369
5
4935
-167
82
25
4,146
205
44
-430
3967
4235
1 133
760
786
820
Machinery (except electrical)
Elec. machinery, equip., and supplies
do....
do....
11,459
7,114
12580
7,872
3084
1,797
3492
1,745
2657
1,781
2,454
1,801
Transportation equipment (except motor
vehicles etc )
mil $
Motor vehicles and equipment
do
All other manufacturing industries
do....
3084
-3424
14,745
3722
209
15762
903
622
4205
707
139
3728
645
1
2,737
693
1072
3,798
36,495
40317
9703
10763
81 111
75874
Dividends paid (cash), all industries
do....
10,160
10,418
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds total
By type of security:
Bonds and notes corporate
mil. $
4259
3310
4972
5363
9729
5969
3283
5,838
6601
r
r
5,195
r
3,301
2,488
1,366
r
887
2542
67
r
5,555
r
655
r
360
1 747
5,096
415
1,799
941
4,610
5,684
. do
56265
45606
2046
1578
2544
3839
7 112
3948
1607
4,074
4653
r
.. do
do
18996
3635
25042
1 861
1589
67
1467
14
2037
186
1382
141
2039
59
1 870
145
1477
199
1430
185
1 750
198
1,875
172
mil. $..
do
do....
do
78,889
24398
4818
15940
72509
17397
9 122
14 492
3702
822
328
630
3059
468
625
608
4767
572
905
1 746
5,362
238
703
1331
9210
2462
797
1246
5,963
1212
723
1 176
3,283
727
724
962
5,689
479
479
1088
6,601 r4,610
r
599
1 142
r
636
919
2219 1684
Transportation
Communication
Financial and real estate
do
do .
do....
3745
7385
15638
2776
6 160
17,197
74
840
807
186
202
545
150
765
541
74
91
2,563
120
411
3254
105
201
1894
68
66
506
76
366
2,994
255
87
1,523
r
41
r
20
1,358
108
346
1,665
131
182
1,345
State and municipal issues (Bond Buyer):
Long-term
Short-term
.
SECURITY MARKETS
do....
do.
47,133
?6485
46,134
34443
3,255
2267
3,088
2084
3,539
4412
3,625
3543
5,035
2902
5,072
3 138
3,780
2525
3,459
2,708
5,538
2,950
r
6,686
3,109
5,268
5,919
5,667
4,848
r
5,811
r
.
Common stock
Preferred stock
By type of issuer:
Corporate total #
Manufacturing
Extractive (mining)
Public utility
2,573
3,302
6,086
4,542
Stock Market Customer Financing
Margin credit at brokers, end of year
or month
Free credit balances at brokers:
Margin accounts
Cash accounts
14721
14411
15 154
14585
14023
13,926
14 124
14,411
13,441
13,023
12,095
12,202
12,237
11,783
11,729
do....
do
2 105
6070
3,515
7 150
2670
6470
2,645
6640
2,940
6555
2,990
6 100
3,290
6865
3,515
7 150
3,455
6575
3,755
6,595
3,895
6,510
4,145
6,270
4,175
6,355
r
4,215
r
6,345
4,410
6,560
Prices:
Standard & Poor's Corporation:
High grade corporate:
Composite §
.
. .dol per $100 bond
Domestic municipal (15 bonds)
do....
414
57.4
337
43.2
330
43.7
31.8
39.4
299
36.8
30.0
37.4
33.7
41.0
33.2
37.1
30.9
35.8
31.1
37.0
32.9
37.3
33.3
38.2
34.0
39.9
32.1
38.3
32.8
39.4
35.7
43.2
Sales:
New York Stock Exchange, exclusive of some
stoooed sales, face value, total
mil. $..
5.190.30
5.733.07
444.69
475.07
577.36
567.54
611.97
673.76
410.47
388.34
512.80
509.13
510.05
499.02
463.04
724.38
mil $
Bonds
See footnotes at end of tables.
S-16
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCE—Continued
Bonds— Continued
Yields:
1275
Domestic corporate (Moody 's)
.
.... percent
1506
15 18
By rating:
Aaa
.. .... do..
1194
14 17
1438
12.50
Aa
do....
14.79
14.75
A
do
1289
1529
1536
13.67
Baa
do....
16.17
16.04
By group:
1235
1448
Industrials
do
1450
13.15
15.87
Public utilities
do....
15.62
Railroads
do
11 48
1322
1322
Domestic municipal:
8.73
11.44
Bond Buyer (20 bonds)
do....
11.56
Standard & Poor's Corp. (15 bonds)
do....
8.51
11.03
11.23
U.S. Treasury bonds, taxable $
do....
10.81
12.87
13.05
Stocks
Prices:
32823
Dow-Jones averages (65 stocks)
36461 36897
891.41
Industrial (30 stocks)
932.92 947.94
11043
Public utility (15 stocks)
10858 10759
307.23
Transportation (20 stocks)
398.56 404.26
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43-10
11878
12804 129 13
Industrial, total (400 Stocks) #
do....
134.52
144.24 145.30
131.37
Capital goods (111 Stocks)
do....
139.03 140.10
86.88
Consumer goods (189 Stocks)
do....
100.67 10163
50.54
Utilities (40 Stocks)
do....
51.87
52.28
Transportation (20 Stocks)
1970=10..
18.52
23.55
23.26
7557
Railroads (10 Stocks)
1941-43—10
9309
9255
Financial (40 Stocks)
1970=10..
12.50
14.67
14.44
NewYorkCity banks(6 Stocks) 1941-43 = 10..
44.00
53.94
52.45
102.90
Banks outside N.Y.C. (10 Stocks)
do....
117.82 120.62
127.06
Property-Casualty Insurance (6 Stocks) do....
141.29 146.16
New York Stock Exchange common stock indexes:
Composite
12/31/65-50
68 10
7498
7402
Industrial
do....
78.70
8544
8664
Transportation
do
6061
7261
7442
Utility
do
3735
38 91
38 90
Finance
do
6425
7497
7352
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent
526
5 18
520
Industrials (400 stocks) . . .
do
494
490
488
Utilities (40 stocks)
do
977
10 18
1007
Transportation (20 stocks)
do...
4.04
334
340
Financial (40 stocks)
do
575
541
535
10.60
Preferred stocks, 10 high-grade
do....
12.43
12.36
Sales:
Total on all registered exchanges (SEC):
Market value
mil $
475 850 490 688 42649
Shares sold
millions
15486
1310
15 910
On New York Stock Exchange:
Market value
mil. $.. 397,670 415,913 36,340
12,390
Shares sold (cleared or settled)
millions1,064
12,843
New York Stock Exchange:
Exclusive of odd-lot and stopped stock sales
11,352
(sales effected)
millions..
954
11,854
Shares listed, N. Y. Stock Exchange, end of period:
Market value all listed shares
bil $ 1 242 80 1 143 79 1 224 89
33,709
Number of shares listed
millions..
38,298 37,404
15.60
16.18
16.20
15.35
15.38
16.05
16.13
15.68
15.53
15.34
15.77
15.70
15.06
14.89
15.42
1576
16.34
1549
15.95
1636
16.92
15.40
15.82
1647
17.11
14.22
14.97
1582
16.39
14.23
15.00
1575
16.55
15.18
15.75
16 19
17.10
15.27
15.72
1635
17.18
14.58
15.21
16.12
16.82
14.46
14.90
15.95
16.78
14.26
14.77
15.70
16.64
14.81
15.26
1607
16.92
14.61
15.21
1620
16.80
13.71
14.48
1570
16.32
1487
16.33
1350
1547
16.89
1371
1564
16.76
1388
15 19
15.50
1392
15.00
15.77
1384
15.37
16.73
14 10
15.53
16.72
1408
15.29
16.07
14.00
15.22
15.82
14.03
15.08
15.60
13.93
15.35
16.18
1399
15.37
16.04
14.05
14.88
15.22
13.90
13.10
12.13
13.61
12.93
12.86
14.14
12.99
12.67
14.13
12.18
11.71
12.68
13.30
12.77
12.88
13.15
13.16
13.73
12.70
12.81
13.63
13.13
12.72
12.98
11.97
12.45
12.84
12.13
11.99
12.67
12.58
12.42
13.32
11.97
12.11
12.97
10.74
11.12
12.15
36422
926.25
11149
396.27
33333
853.38
105 18
353.12
337 10
853.24
10377
368.56
346.44
860.44
11042
383.56
351.31
878.28
110.73
387.11
333.99
853.41
105.68
353.99
327.54
833.15
105.98
345.93
318.94
812.33
107.47
328.85
332.69
844.96
112.17
344.68
333.11
846.72
114.49
340.90
31366
804.37
10841
314.58
316.31
818.41
106.28
316.68
321.30
832.11
10964
318.34
12963
145.95
141.13
11004
54.06
22.99
91 12
14.46
53.42
117.24
140.67
11827
132.67
126.60
93.67
51.01
20.03
7881
13.73
50.82
111.69
132.95
11980
133.98
123.98
96.89
51.41
21.01
8383
14.40
53.75
113.93
141.22
12292
1S6.76
125.80
98.38
54.52
21.92
8968
15.23
56.28
119.20
152.40
12379
138.35
128.23
98.37
53.53
22.21
9084
14.76
54.01
112.58
149.00
11728
131.08
121.78
95.43
51.81
20.05
8086
13.95
51.33
102.51
141.08
11450
127.56
120.53
97.32
51.39
18.95
7599
14.19
53.85
100.48
146.08
11084
122.85
112.43
97.00
52.33
17.68
6773
14.15
53.77
96.11
147.01
11631
129.19
117.32
102.91
54.25
18.71
7120
14.59
55.93
97.40
149.14
11635
129.68
115.84
103.81
54.88
18.50
71 16
13.81
52.27
93.29
142.45
10970
122.61
105.97
10092
52.13
17.21
6549
12.45
48.10
86.01
126.05
10938
122.49
106.34
102.66
51.87
17.22
63 15
12.07
45.36
81.10
120.61
10965
122.29
106.34
102.46
53.34
17.53
6471
12.38
47.46
82.06
118.41
7524
8672
7327
40 22
7376
6837
78.07
6367
38 17
6938
6940
78.93
6565
3887
7256
71 49
80.86
6768
4073
7647
7181
81.70
6827
40 22
7474
6791
76.85
6204
39 30
7099
66 16
74.78
5909
3832
7050
6386
71.51
55 19
3857
6908
6697
75.59
5791
3920
7144
6707
75.97
5684
3940
69 16
63 10
7159
5307
3734
63 19
6282
71.37
5340
37 20
6159
6291
7098
5398
38 19
6284
5 16
486
978
346
543
12.63
569
538
1049
399
574
13.01
565
535
1046
380
547
13.09
554
528
992
367
5 19
12.76
557
528
1022
376
548
12.83
595
564
1074
4.20
589
13.19
606
575
1077
438
579
13.20
628
599
1061
472
592
12.97
599
570
1027
4.47
573
12.90
597
565
1027
4.47
607
12.58
628
590
1087
485
667
12.96
6 31
591
1102
492
697
13.24
12.78
38692 33445
1 365 1222
35953
1313
44 157 39900 37350
1 713 1 533 1430
35 174
1 414
30420
1,169
1 145
1673
37728 33534 39673 37495
1 224 1 220 1 380 1303
31769
973
28378
974
33,826
1,129
32,029
1,062
32701
1,092
28,301
987
30,268
1,071
38,232
1,411
921
959
996
988
959
968
972
1,270
33,714
1,242
1 136
31,913
1,167
1,027
1 111
1 149 19 1 080 56 1 134 19 1 181 82 1 143 79 1 115 82 1 053 75 1 036 85 1 081 87 1 039 18 1 01745
37,567 37,709 37,874 38,144 38,298 38,408 38,572 38,588 38,738 38,594 38,894
993 56 1 106 56
39,064 39,070
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
Exports (mdse.), incl. reexports, total @
Excl. Dept. of Defense shipments
Seasonally adjusted
By geographic regions:
Africa
...
Asia
Australia and Oceania ..
Europe
Northern North America
Southern North America .
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
Asia; Australia and Oceania:
Australia, including New Guinea
Japan
See footnotes at end of tables.
mil. $.. 220,704.9 '233,739 0 18 569 0 17 766.4 18 819 2 19 896 8 19,047.7 19 139 9 175153 17 637 3 20,160.9 18 610.6 19 000.7 194161 17 259 3
do 220 548 7 *233 677 0 18 565 2 17 764 2 18816 1 19 893 5 19 040 0 19 130 0 17 507 9 17 635 5 20 151 7 18 605 2 18 992 4 194133 17 252 2
do....
19 289 4 19,030.8 19 550.7 19 163.2 19,152.9 18 885.4 18 736.7 18 703.6 18,602.0 17 842.8 18 218.0 18 821 8 18 026 5
do
do...
do
do
do....
do
do....
90604
60 168 3
48757
71 371 4
35,399.0
21 337 7
17 376 8
do....
do....
18736
2,463.5
do.... 4,130.7
do.... 20,790.0
1
ll
J
097 4
63 848 7
*6 435 8
169 714 7
^9,565 8
'24
368 7
1
17 732 1
9363
52806
5150
5 214 1
29773
20823
14696
974 7
48375
5591
5 019 3
3 1030
18342
13382
875 4
50108
544 1
5 709 9
33027
1889 1
l'364 8
944 4
55826
5892
6 040 2
3 1458
20706
14230
7955
52864
5452
5 7200
32138
20024
14085
925 4
56288
5824
5 912 5
28417
18883
13056
850 6
5 1723
461 4
5 545 1
24638
17034
13186
972 4
5 1948
4426
5 605 7
25935
1665 1
1 1630
967 1
57522
5979
6 328 8
33468
17913
13766
*2 159 4
2,911.7
1842
267.9
1938
233.4
1327
230.2
1776
266.9
1407
222.0
1428
215.9
1726
230.9
2752
224.6
X
5,297.5
21,823.0
430.1
1,900.0
477.7
1,594.2
464.9
1,678.1
490.8
1.859.0
464.1
486.6
1,940.1 2,064.6
391.2
1,785.8
370.5
1.705.6
1
1
1 001 7
52159
4716
5 753 1
3066 1
1 758 6
12582
9363
5545 1
4954
5 711 4
3 1897
1 730 8
13232
1 038 0
57862
662 3
5 639 7
29432
1 837 9
1 437 0
231 1
206.7
383 1
237.4
2936
234.8
269 4
242.7
490.6
1.862.2
402.4
1.574.8
411.0
1.710.2
491 1
1.828.8
S-17
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS— Continued
Exports (mdse.), incl. reexports—Continued
Europe:
France
mil $
German Democratic Republic (formerly
E Germany)
.
mil $
Federal Republic of Germany (formerly
W Germany)
mil $
7 485.4
*7 340 5
5128
5185
6132
5552
5739
5627
5234
5635
7288
5929
6038
4786
*2957
146
90
90
249
177
164
499
266
437
93
220
220
10 276 7
1
5 360 0
1
2,431.3
1
7379
7637
444 7
1013
8854
8877
9002
8464
7989
7896
8216
7649
3904
2808
9268
4590
2399
9083
5480
3583
9406
9696
3790
4213
9910
8047
4196
2574
952 1
8225
4136
3980
912 1
3952
325.1
9927
446 1
2657
9133
4994
134.4
928 1
10 959 8
do
5511 1
do....
1,512.8
do
12 693 6
Italy
. .
Union of Soviet Socialist Republics
United Kingdom
North and South America:
Canada
1
12 439 2
3520
1272
1 1465
do
35,395.3 *39 564 3 29770
do
36,030.4 138
950 1 32720
do
43435 13 798 2
2873
do.... 15,144.6 1
1,5130
do
45728
5 444 9
5087
do 216 592 2 '228 960 8 18 198 6
do 216,436.0 '228 898 7 18 194 9
41 255 9 '43 338 5 28418
do
do 175 336.3 1 185 622 6 15 356 8
Latin American republics total #
Brazil
Mexico
Venezuela
mjss.i
Exports of U S merchandise total §
Excluding military grant-aid
Agricultural products total
Nonagricultufal products total
By commodity groups and principal
commodities:
Food and live animals #
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Mineral fuels, lubricants, etc. #
Oils and fats, animal and vegetable
Chemicals
Manufactured goods #
Machinery and transport equipment,
total
Machinery, total #
Transport equipment total
Motor vehicles and parts
mil. $..
do....
do....
mil. $..
do....
do
do
27,743.7 '30,290.8
2,663.0 '2,914.7
23,790.7 1'20,992.4
7,982.3 10,279.0
1,946.3 1 1,750.3
20 740.2 '21 187 1
22 254 6 '20 632 5
mil $ 84 552 9 '957172
55,789.7 '62
945 5
do
28 838 8 1132 790 9
do
16,214.0
do.... 14,589.6
3975
450.5
8175
33025 3 1457 32136 2841 7 24635 25935
29336 29777 32417 30892 29334 27574 25372
2604
2698
3023
2577
2565
2520
306 2
1 3144 1 375.4 1 542.2 1,402 6 1 380.8 1 1878 1 123.9
4672
3809
3999
453 1
4393
5088
3644
17 455 8 18 376 5 19 466 4 18 646 0 18 631 1 17 129 0 17 274 6
17 453 6 18 373 4 19 463 1 18 638 3 18 621 1 17 121 6 17 272.8
29264 32032 39256 37754 35965 32547 34999
14 529 4 15 173 3 15 540 9 14 870 6 15 034 6 13 874 3 13 774 7
3 1030
2,188.5
250.0
1,782.6
1,050.9
167.3
2,064.9
208.9
1,724.7
1,048.5
102.8
15942
14569
2,429.6 2,272.1 2,161.4 2,172.3
221.3
300.2
224.2
262.5
1,837.3 1,789.3 1,839.6 1,598.7
1,090.4
1,246.3 1,190.2 1,143.5
141.7
132.4
124.3
102.2
1662 1 18584 16882 17224 1 862.5
13887 16338 14396 15356 15910
78454 80018 75294 79312
5 1972 54575 5 1677 50122
26490 25450 23676 29210
1,306.8 1,325.5 1,267.3 1,124.8
7 1267
48498
22814
1,023.7
69794
4 719.0
22610
1,123.9
2,517.0
259.8
1,376.6
958.4
124.3
18260
1660 1
16849
16607
75972 74715
52990 48799
22989 2592 1
1,297.3 1,196.4
30658 3 1895 29427
27828 2 924.3
319 1
3343
1201 1 1 202.6
5018
4406
18 589 3 18 980 3
18 581 0 18 977.5
34034 3 129 1
15 185 9 15 851.2
29269 26996
2898
2749
1,307 2 1 173.1
4150
501 7
19 685 4 18 208 3
19 676 2 18 202 8
37025 34818
15 982 9 14 726 5
2,691.1 2,335.3 2,315.3
304.8
375.1
236.8
1,831.5 1,930.7 1,811.4
1,131.1 1,097.7 1,106.2
131.9
158.4
121.5
17982 16655 17154
16517 16236 14463
2,342.3 2,241.2
194.4
187.3
1,244.5 1,301.0
918.6
919.0
129.4
168.1
1644 1
1559 1
33462
6653
83576
5,523.1
2835 1
1,489.3
1,722.3
167.0
1,350.5
996.8
157.3
1,648.6
13485
75477 77825 8 1757 75973
4 967.7 5,203 1 5 523.2
25803 25800 26528
1,395.6 1,436.2 1,325.5
VALUE OF IMPORTS
General imports, total
Seasonally adjusted
By geographic regions:
Africa
.... . ...
...
Asia
Australia and Oceania ....
Europe
Northern North America
Southern North America
South America
By leading countries:
Africa:
Egypt
Republic of South Africa
do
do
...
...
Asia; Australia and Oceania:
Australia, including New Guinea
Japan
do
do...«.
do
do....
do
do ..
do
do
do
Manufactured goods #
Machinery and transport equipment
Machinery total •/£
.
Transport equipment
Automobiles and Darts
See footnotes at end of tables.
32 250.9
78,848.0
3 391.9
47,849.7
41 470 9
22,656.9
14 361 6
'27 070 6
92,032.6
1
3 352 7
'53,409.7
1
'46 432 0
'23,477.4
1
15 526 4
4584
3,320.5
'3973
2 445 3
1
17230
7,265.8
2397
4,565.1
36778
17138
1 164 4
57
2155
19509 1785 1 16696 1 7972
8 450.6 7,629.0 9,102.7 8,636.0
3420
3085
241 1
256 1
4 938.1 4,055.6 4,654.2 4,570.7
36409 37077 42598 4 1322
20740 18996 2 155.7 18747
13066 13297 14042 1 3027
155
1854
286
1512
51 4
1809
mil. $.. 2,562.3 '2,514.8
161.7
261.0
238.3
190.3
30 701.3 '37 612 1 3 1407 35429 29101 36989
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
Latin American republics total #
Brazil
Mexico
Venezuela
By commodity groups and principal
commodities:
Agricultural products, total
Nonagricultural products, total
Food and live animals $
Beverages and tobacco
Crude materials, inedible, exc. fuels #
Mineral fuels, lubricants, etc
Petroleum and products
Oils and fats, animal and vegetable
Chemicals
240,834.3 '261 304.9 20 349 6 22 617 5 20 748 7 23 555 1 22 555 0 19 663 4
19 806 7 23 528 3 21 228 6 23 234 4 22 521 5 19 516 3
52470
'5 851 4
439
11 681.2
4,313.1
4532
9,755.1
1
'477
25
11 3790
950 1
433.5
390
1,131 7
'5,i89.o
1
4403
'3475
12,834.6
4322
4669
45
40
44
9878
7893
972 1
429.1
494.8
409.0
158
31 7
14 1
1 505.0 1 126.2 1 085.2
9987
494.4
278
954.7
10559
503.3
80
906.3
36
1,184.8 1,394.7 1,290.0
19,132.4 21 276.8 19,487.8
1 1616 1 1761 1 1507
239.3
219.7
285.5
891.9
873.2
829.2
5,692.0 6,880.5 6,557.9
5,264.9 6,436.2 6,154.3
37.2
38.3
32.8
929.0
816.6
7078
3 092 3
5^694.2
3 1980
24963
2!097.6
235.4
177.2
33265 3001 5
534 1
51
3 440 2 3 077 0
5,883.0 5,254.6
33769 3 1463
25061 21084
2.089.7 1.752.4
2
2 358 5
2
8,466.5
2
2005
2
1 706.3 15006 1 252.1
6,333.4 7,310.1 5,965.2
191.9
2624
226.8
4,758.5 3,674.7 4,479.6 4,012.6
2
3 508 5 35490 4 1588 37378
2
1 860 6 1,831.9 1,967.5 1 660.2
2
9772 1 1443 10272
1 452 5
2
426
168 1
2
2
2
154.7
3 720 0
2
1,367.9
18,285.2
12992
238.9
696.1
5,426.9
4,854.3
35.3
691.3
32870 2901 1
6^452.6 5,711.3
35867 2971.3
28659 27400
2,290.6 2.296.2
100 1
183.1
9113 1 317.6
7,684.6 7,395.1
2449
299.2
4,923.4 4,907.0
40703 43995
18247 23095
1 145 1 1 1829
800
1385
327
141.1
465
1386
907
1475
152.8
215.3
2 708.0 35866
162.6
2 790.4
181.1
37594
215.5
3 117.2
5397
4527
4556
441 9
4795
36
51
69
31
37
36
12087 4
499.2
2
184
2
9817
874.9
394.4
220
780.0
10033
492.7
180
1,011.3
9448
439.7
155
821.4
1221 1
494.6
102
1,151.5
1 090.5
459.3
31 8
1,210.4
35476 4 1562 37357 40686
23760 26785 22225 26246
314.4
369.8
312.1
343.7
1 255.3 1,310.5 1,014.2 1,238.3
3124
3552
3502
2930
4 398 1
30113
313.2
1 578.2
3992
5110
2
2
4 1322 36039 23 507 8
27556 2573 1 2 22759 9
412.6
376.4
335.4
1287 1 1 170.9 212 1166
4366
3735
6022
1,428.0 1,247.7
22,107.4 21,305.4
12954 1 1327
316.3
299.9
944.7
824.3
6,643.7 6,613.2
6,153.7 6,113.7
41.4
40.4
826.3
718.2
3455 1
6,606.6
3819.0
27875
2,370.7
606 0 18 264.6 20,823 4 17 882.1 20,804.5 21 810.9 19,763.2
22 828 8 19 090 4 20 348 7 17 386 8 20 558 1 21 309 6 19 558 8
243
1310
5996
529 1
41 455.4 '46 413 8 36772 36387 37055 42589
do
29 851 2 '32 023 3 23819 26166 26515 30157
do
do.... 3,714.6 '4,474.5
356.4
395.0
411.8
352.1
9875 1 1226 1 119 2 13624
do . 12,519.5 '13,765.1
5297 1 '5 566 0
do
4670
4335
5148
4727
mil. $.. 17,425.0 11 17,003.4
do.... 223,409.2 244,301.4
15 762 7 1 15 237 6
do
do.... 2,771.5 l '3,138.3
do.... 10,495.9 ll,193.4
do.... 79,057.7 '8i,4i6.9
do.... 73,770.9 '75,577.3
533.4
'479.5
do....
do .. 8,582.7 19,445.9
32 190 4 137 291 9
do
do.... 60,545.7 '69,627.2
31 903.6 '382122
.
do
28 642 0 '31 4152
do
do.... 24.133.9 '26.216.9
33
3524
13673
6,961.4
2805
4,410.3
36060
1 826.3
12113
2
22
2
2
1,306.8
2
1,140.3 1,396.1
21,343.0 17,173.6 19,419.5
2
12035 8
9484 12706
193.5 . 266.3
285.8
2
689.7
669.2
740.9
2
5,107.2
5,008.9
7,439.3
2
6,830.8
4,523.2 4,504.2
2
19.2
40.2
42.8
2
667.7
777.4
872.9
2
3 225 9 28309 29637
2
6,199.7 5,263.5 6,601.1
2
3
318 1 2,784.4 3,295.6
2
2 881 6 2479 1 33055
2
2,436.4 2,017.7 2,842.8
1,284.0
16,610.8
1 1582
284.1
703.2
4,311.9
3,862.8
25.4
730.2
24544
5,785.5
2,898.5
28870
2,522.3
1,327.2
19,456.3
12672
321.2
771.6
4,167.4
3,749.4
38.8
840.3
32039
7,051.3
3,557.7
34936
2,977.3
1,339.4 1,106.9
20,476.2
1 2726 1 1225
292.4
251.3
790.5
695.3
5,426.6 5,942.7
5,025.3
31.8
43.1
820.7
698.9
30913 2501 4
6,929.7 5,646.5
3,702.3
32274
2,780.7
Aug.
S-18
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FOREIGN TRADE OF THE UNITED STATES—Continued
Indexes
Exports (U.S. mdse., excl. military grant-aid):
Unit value
1977-100..
Quantity
'
do
Value
do....
138.1
1329
183.6
1
150.8
1288
194.1
152.2
121 7
185.2
151.0
1176
177.6
151.3
1236
187.0
152.8
1296
198.1
153.0
1240
189.7
152.9
1239
189.5
156.2
1116
174.2
155.6
1130
175.8
154.8
1294
200.2
154.6
1199
185.3
154.3
1225
189.1
152.6
1265
193.1
153.3
111 8
171.6
General imports:
Unit value
Quantity
Value
161 4
102.6
165.5
1703
105.2
1
179.1
1700
98.5
167.4
1678
1109
186.0
1663
102.6
170.6
1664
116.3
193.6
1657
111.9
185.3
1674
96.5
161.6
1707
109.1
186.2
171 7
87.6
150.4
1704
100.7
171.5
1696
86.8
147.3
1673
102.4
171.3
1659
108.3
179.6
1674
97.2
162.7
thous sh tons
mil $
401 172
118 835
M06
927
1
123 505
33589
9809
33551
9075
36081
10079
39812
10871
36674
10429
37820
10350
29927
9657
32880
9856
37243
11 113
37240
10237
thous sh tons
mil. $..
487 936
164.924
*465
953
1
177.373
35014
13.649
43812
15.959
39482
14.123
40316
15.765
37298
14.517
31864
12.863
27342
11.465
28615
12.995
26025
11.010
do
do....
do....
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
Value
General imports:
Shipping weight
Value
6
39
6
974
15.694
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)
Certificated route carriers:
Passenger-miles (revenue)
Passenger-load factor
Ton-miles (revenue) total
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
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
International operations:
Passenger-miles (revenue)
Cargo ton-miles
Mail ton-miles
bil..
percent
i
mil
254.18
590
32487
248.39
585
31886
mil. $..
do
do
do ...
do....
do
r2
33,728
r
28 049
r2
2r432
623
r2
33,949
r2
-124
36,502
30579
2480
675
2
36,922
533
bil
mil..
do
20009
3274
944
198 13
3338
994
.
mil $
do....
do
r
26 404
26409
2
156
2
29
r
29
r2
24.46
608
3057
24.50
682
3023
19.72
576
2566
20.16
577
2673
18.06
547
2419
9,729
8 195
624
161
8,600
73
1894
297
78
1864
273
75
15 15
289
78
5.52
207
29
4.57
199
29
19.62
555
2457
17.65
553
2280
21.71
607
2768
21.58
61 2
2715
21.52
584
2725
23.67
636
2910
1592
225
79
1480
230
77
1829
269
87
1776
249
85
1726
257
82
1897
250
77
3.70
162
29
2.85
180
29
3.42
208
33
3.83
191
32
4.26
202
32
4.70
185
31
603
623
720
650
636
645
584
131 4
1329
1330
1310
8,776
7238
651
192
9,284
-386
1597
308
85
1478
271
76
7463
7442
-12
014
277
360
20.38
572
2651
1670
264
111
4.19
232
32
3.29
229
36
3.68
194
43
54.09
2458
392
50.28
2337
376
mil $
do....
do
r2
6 543
r2
6
766
r
2
6390
2
270
6595
186
8228
7948
100
15,432
100
16489
304
199
189
182
1487
147 1
28,258
26,350
439
30,904
28925
535
7,966
7452
144
7,697
8776
143
7,190
6707
142
7,222
do....
do
clo....
26351
1342
3
1 130
28583
1362
3
2,055
7331
428
498
7 113
192
580
6821
204
216
6821
265
340
bil..
do
1969=100..
920.6
9186
284.5
911.7
9119
327.6
332.8
333.3
227.1
2275
333.3
337.9
337.9
224.9
225 1
337.8
350.4
350.6
Hotels and motor-hotels:
Restaurant sales index.... same month 1967=100..
Hotels: Average room sale U
dollars..
Rooms occupied
% of total..
Motor-hotels: Average room sale
fl
dollars..
Rooms occupied
% of total..
182
49.48
65
3530
66
194
56.39
68
3831
67
214
5605
69
3942
76
192
4944
68
3879
76
191
55.55
67
38.56
67
215
59.56
74
3885
68
189
58.72
64
3857
59
195
57.95
50
3821
50
160
60.33
57
4022
56
185
6337
45
4097
56
198
6200
68
4130
66
2
9,010
2
9,971
11,252
2
9,285
3,020
8,905
9,978
11,976
9,933
3,222
323
272
2,863
3,858
3,199
225
196
172
1,965
2,208
2,681
2,339
210
208
59,081
62,237
10,955
11,226
6,865
5,032
2,719
2,023
1,788
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
1675
6999
7,389
-322
bil..
mil
do
586
196
29
5
1932
1859
61
1501
1,625
59
Urban Transit Systems
Passengers carried total
mil
615
625
645
693
643
651
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
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
Operating expenses
Net railway operating income
Ordinary income
Traffic:
Ton-miles of freight (net), total, qtrly
Revenue ton-miles qtrly. (AAR)
Price index for railroad freight
100
4,301
1533
151 1
100
4,247
100
3587
78
10
48
46
45
39
1458
1397
1349
1262
1279
1318
1280
207.4
r
2074
r
350.5
r
351.2
351.6
4
729
4
830
4
883
4
4
772
4
893
4
865
4
260
2051
2,192
2381
1,931
271
2,238
2804
3621
2080
351.5
Travel
Foreign travel:
U.S. citizens: Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
Departures (quarterly)
Passports issued
National parks, visits
See footnotes at end of tables.
thous..
do....
do....
do....
do....
do....
2
732
395
705
371
496
4
709
352.0
r
4
605
352.0
S-19
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
TRANSPORTATION AND COMMUNICATION—Continued
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)
mil. $..
do
do....
do
do....
mil
56,738
24333
22,983
37983
10,194
1599
66,498
28 117
26,505
44594
11,903
1649
5714
2338
2319
3727
1074
1648
5772
2360
2,340
3703
1 117
1646
5816
2415
2310
3812
1085
1653
5838
2466
2354
3820
1 111
1653
5806
2463
2264
4060
950
165 1
5978
2503
2394
4505
865
1649
5911
2508
2324
3924
1041
1645
5,802
2515
2,163
3944
987
164 4
6163
2552
2468
4304
996
164 1
mil $
do....
do....
6970
5614
95.9
7792
6238
112.7
680
55.5
8.9
682
530
11.4
677
560
7.8
676
568
7.7
657
53 1
9.1
683
496
9.6
642
518
8.7
643
522
8.4
703
55.3
10.5
do....
do
do....
5
534.7
5
3748
5
578.0
4362
117.0
50.2
383
9.9
47.0
394
5.4
50.1
39 1
8.7
51.2
369
12.1
48.0
374
8.5
47.1
363
9.3
48.7
390
7.5
48.8
383
8.4
54.7
39.9
13.6
137.0
6,128
2604
2,348
4229
1011
1643
6080
2591
2321
4216
'998
164 1
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 iji .
do
1,286
11,421
2,895
432
1,206
10,556
2,444
426
114
893
221
34
97
874
202
37
119
851
183
34
106
837
173
38
93
765
173
32
101
770
184
30
87
768
210
30
101
786
227
27
118
815
251
34
95
828
218
33
r
91
r
794
r
215
31
107
782
225
31
11,606
786
1,139
10,650
738
1,162
894
62
96
873
59
96
861
69
95
826
61
92
767
57
89
771
54
97
764
48
82
767
64
84
801
62
81
837
64
74
r
807
51
r
73
786
54
76
'727
727
690
748
57
61
58
57
53
65
56
65
51
58
57
55
52
44
56
58
57
56
48
55
'10,271
3,042
10,369
3j571
915
2,930
914
3,044
852
3,203
834
3,235
842
3,367
844
3,571
782
3,651
718
3,697
808
3,775
755
3,911
thous. sh. tonsAmmonium nitrate original solution iji
do
Ammonium sulfate $
do....
Nitric acid (100% HNO3) t
do
19,653
9,127
2,136
9,232
19,043
8,791
4
1,642
9,039
1,545
673
199
714
1,510
617
165
657
1,537
684
152
717
1,547
J44
1,570
J68
1,296
680
159
692
1,434
812
164
822
1,498
701
174
716
Nitrogen solutions (100% N) $
Phosphoric acid (100% P2O5) $
Sulfuric acid (100% H2SO4) $
do
do....
do....
2,773
10,938
44,157
4
Superphosphate and other phosphatic fertilizers
(100% P2O5):
Production
thous. sh. tons..
Stocks end of period
do
Potash deliveries (K2O)
fl
do
8,339
372
6,950
Sodium
Sodium
Sodium
Sodium
hydroxide (100% NaOH) $
do....
silicate, anhydrous $
do....
sulfate, anhydrous $
do....
tripolyphosphate (100% Na5P3O10) $
do....
Titanium dioxide (composite and pure) $
do....
Sulfur, native (Frasch) and recovered:
Production
thous. Ig. tons..
Stocks (producers') end of period
do....
r
53
53
55
51
726
4,152
r
687
M,195
l,523
r
664
154
r
664
1,355
576
158
587
r4
268
r
640
2,443
4
250
675
2,432
686
4,231
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous $
.
Exports total #
Nitrogenous materials
Phosphate materials ....
Potash materials
Imports:
Ammonium nitrate
Ammonium sulfate
Potassium chloride
Sodium nitrate
do
do
do
do....
.
....
...
do
do
do
do
r
742
1,491
723
148
728
751
1,361
705
136
682
250
850
3,384
231
676
2,884
252
742
3,116
224
760
3,084
218
690
3,866
223
707
2,888
4
196
659
2,638
4
202
672
2,625
4
258
748
2,818
4
244
663
2,612
16,903
3
1,068
•6,478
1,436
1,561
513
1,092
1,321
806
1,158
1,211
378
1,261
1,177
399
1,112
1,276
550
1,076
1,068
614
1,128
1,197
416
1,213
1,306
396
1,240
1,317
417
983
1,200
618
r
857
r
929
552
891
892
375
'340
29,445
3,668
17,524
1,815
22,391
2,834
13,308
1,203
2,184
333
1,143
116
1,659
124
979
103
1,872
220
1,029
90
1,512
167
880
93
1,579
221
982
101
1,834
246
1,148
100
1,497
243
860
62
1,637
212
1,135
30
2,031
274
1,309
106
1,582
259
992
37
1,736
244
1,022
109
1,811
251
911
142
1,872
317
933
146
247
289
8,907
158
264
327
8,601
159
14
16
623
10
16
29
948
0
15
17
786
16
26
10
655
26
26
12
577
6
17
58
719
0
21
20
670
12
16
24
552
0
18
34
582
21
33
51
722
9
51
23
664
22
29
30
483
19
19
20
599
5
5,493
4,905
389
353
425
392
384
448
282
358
484
414
386
275
3,720
106,064
478,964
430,729
3,982
101,561
485,066
421,588
385
8,544
40,921
36,147
353
7,630
40,939
34,158
324
8,785
41,225
34,930
335
8,300
41,545
36,440
324
7,669
39,246
32,603
315
8,040
39,229
31,528
287
7,065
40,609
31,172
313
7,563
38,065
30,753
369
7,760
41,462
34,580
340
7,462
38,948
30,835
362
7,742
r
39,042
r
30,058
383
7,622
38,565
30,454
2.2
2,951
9,914
40,795
3
4
4
4
4
r
Industrial Gases
Production:
Acetylene $
mil. cu. ft...
Carbon dioxide, liquid, gas, and solid
thous. sh. tons..
Hydrogen (high and low purity) $
mil. cu. ft.
Nitrogen (high and low purity) $
do....
Oxygen (high and low purity) $
do....
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
r
r
Ethyl acetate (85%)
Formaldehyde (37% HCHO)
mil lb
do....
'33.7
152.5
'233.6
'5,555.3
29.6
117.9
'278.9
'5,854.6
1.8
8.7
24.2
461.2
2.8
8.2
22.7
593.0
2.9
10.2
20.9
494.7
2.4
9.9
26.0
483.1
2.1
8.8
24.8
435.8
1.8
8.8
18.2
376.5
2.1
5.2
13.7
375.0
2.4
6.4
11.0
379.0
2.7
8.2
24.8
398.4
24.0
443.8
2.0
8.5
24.3
402.3
193
368.2
1.6
5.8
19.7
334.7
Glycerin, refined, all grades
Methanol synthetic
...
Phthalic anhydride
do....
mil gal
mil. lb..
314.8
'1,077.3
'818.2
299.1
'1,266.2
'810.7
25.3
112.5
60.6
24.2
84.6
72.5
29.8
99.5
80.3
28.7
104.7
49.3
22.7
107.7
48.4
16.7
121.5
57.1
17.5
93.0
53.8
18.6
85.8
42.1
20.4
109.8
75.6
22.8
110.9
64.7
19.2
95.6
68.5
18.3
104.2
53.7
97.4
57.2
mil. tax gal..
do
643.2
72.0
571.4
83.2
45.3
72.5
55.8
75.4
53.1
78.7
44.0
75.8
47.8
77.5
45.4
83.2
42.9
79.8
39.8
81.6
48.2
72.8
37.6
64.0
41.9
57.5
mil wine gal
do....
do....
301.2
284.2
10.1
230.2
225.6
5.0
17.2
16.6
3.4
18.0
17.3
3.5
18.8
18.5
3.1
20.7
18.9
3.4
17.3
16.3
3.8
18.1
16.3
5.0
18.7
18.3
4.7
17.2
15.2
6.2
22.4
22.8
4.8
19.9
18.5
4.8
20.3
20.2
4.5
mil. lb..
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks end of period
Denatured alcohol:
Production
Consumption (withdrawals)
Storks ftnH of npri'od
See footnotes at end of tables.
r
1.4
Aug.
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
Annual
1982
1981
1981
1980
September 1982
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil. lb.. 11,744.9
*11 719.9
Polyethylene and copolymers
do
Polypropylene
do.... ^egg.o
1
5 540.1
Polystyrene and copolymers
do
Polyvinyl chloride and copolymers
do
*5 485 4
1
1
151.8
1,489.0
11,998 4 1,005.5
^^S.l
346.6
*5 686 6
468.3
1
5 663 3
5174
125.1
10327
328.1
4566
5000
125.4
9843
316.9
4963
451 1
129.5
9542
327.3
4916
4022
104.9
886.8
301.4
433.2
3849
7042
315.1
2357
153.3
572.0
248.1
203.0
121.0
101.8
825.9
273.3
404.6
3106
93.2
814.6
276.4
351.8
3290
100.7
845.8
304.5
397.5
3845
544.9
234.8
201.9
108.2
579.9
274.2
196.3
109.4
101.5
1,012.5
347.9
432.8
4369
103.7
955.5
321.8
414.4
4262
102.5
942.3
287.8
435.4
4914
741.0
362.9
220.3
157.9
793.0
415.6
223.8
153.5
102.7
944.7
271.6
422.2
4905
89.7
974.4
261.0
432.1
3743
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments, quarterly
Paints, varnish, and lacquer, shipments:
Total shipments
Architectural coatings
Product finishes (OEM)
Special ouroose coatings
mil lb..
mil $
do....
. do
do....
1
3 000.4
3,003.6
7 635.9
3,641.2
2 418.5
1.576.2
83957
3,968.9
27372
1.689.5
7848
390.5
2327
161.7
773.2
372.5
2330
167.7
687.0
816.7
846.1
774.4
396.8
224.9
152.7
513.6
225.9
186.0
101.7
711.7
355.5
219.8
136.4
675.1
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
By fuels
By waterpower
mil. kw.-hr.. 2,286,034 2,292,841 220,164 210,245 186,858 181,377 175,637 195,590 210,098 180,310 187,662 172,588 177,261
do 2010013 2,031 973 195 032 188 610 169 016 163 264 156 606 171,711 183 195 153,614 157 784 144,661 149 199
do.... 276,021 260,868 25,133 21,635 17,842 18,114 19,030 23,879 26,904 26,698 29,879 27,928 28,063
Sales to ultimate customers, total (Edison Electric
Institute) $
mil kw -hr 2 126 094 2,153 796
524 122 541 426
Commercial §
do
793 812 799 885
Industrial §
...
. do
4275
4,091
Railways and railroads
do.. .
734 411 735 724
Residential or domestic
do
14975
14832
Street and highway lighting
do
48,284
51,055
Other public authorities
do....
6358
6640
Interdepartmental
.
.
do
Revenue from sales to ultimate customers (Edison
Electric Institute) $
mil. $..
3533
13,171
1723
518,615
131 742
194 026
1,004
174 008
3830
12,424
1581
27,810
577 031
149 558
207 664
980
200 402
95,462
111,584
31,330
47263
43528
3,499
188
48
15,409
4823
2,442
7862
283
48276
47859
44059
3,563
189
48
15,426
4,565
2,369
8,215
278
56980
47373
43644
3,493
189
47
2,812
17409
8,149
22081
637
19 188
9,297
27718
776
3
542,662
3
137 466
3
185 625
3
1059
204 112
3
3936
3
12,938
3
1527
3
3
30,513
GAS
Total utility gas, quarterly
(American Gas Association):
Customers end of period total
Residential
Commercial
Industrial
Other
Sales to customers, total
Residential
Commercial
Industrial
Other
thous
do
do....
..
do
do
tril. Btu..
do....
do....
do....
do
Revenue from sales to customers total
Residential
Commercial
Industrial
..
Other
mil $
do
do....
do
do....
48352
398
304
2063
47
10372
47859
44059
3,563
189
48
3,844
1227
642
1902
73
15 199
1969
1,211
7062
130
5478
2,683
6812
226
10449
4,787
7272
351
•
44466
3,644
194
49
5,332
2279
1,078
1875
100
22859
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 galConsumption, apparent, for beverage
purposes $
mil. wine gal..
Stocks, end of period $
mil. tax gal..
Imports
mil. proof gal..
Whisky:
Production t
mil. tax gal..
Stocks, end of period $
do....
Imports
mil. proof gal..
Wines and distilling materials:
Effervescent wines:
Production
Taxable withdrawals
Stocks, end of period
Imports
Still wines:
Production $
Taxable withdrawals $
Stocks, end of period $
Imports
19369
176.68
12.95
1880
17.37
1498
1772
16.22
1453
1572
14.68
1442
1461
13.84
1399
13 12
12.39
1338
1393
12.91
1295
15 19
11.90
14 16
1500
12.91
1493
1765
15.68
1632
1762
1582
1583
1822
1656
1559
18 19
1722
1528
151.96
6.38
7.93
11.43
13.71
13.73
14.05
11.02
12.34
15.28
13.59
10.98
449.45
613.76
117.93
35.91
621.26
8.56
33.21
618.00
8.33
34.75
61274
11.77
39.07
609.60
13.32
41.70
60620
12.32
54.09
613.76
9.12
30.70
612.96
7.03
30.22
608.32
6.33
35.69
61840
5.82
36 13
62106
7.98
3329
61672
9.12
io.86
7.29
84.31
554.88
86.00
96.66
541.07
86.53
3.68
551.27
6.52
4.66
547.19
5.83
6.92
54360
9.32
8.80
540.06
10.00
9.14
535 10
9.30
9.06
541.07
6.62
7.37
54103
4.91
8.88
54322
4.65
10.32
54529
4.06
10.20
54776
5.91
7.54
54725
6.88
8.09
5.40
mil. wine gal..
do....
do....
do
26.20
25.28
9.27
483
30.73
27.30
11.53
766
2.47
1.68
15.14
2.04
2.11
14.44
055
2.30
2.26
14.89
0 52
053
3.80
4.52
20.75
0 76
2.88
3.91
12.63
1 07
1.95
2.72
11.53
1 01
1.83
1.15
12.67
0 53
1.89
1.12
13.09
0 33
13.23
0 45
1359
do
do....
do....
do
50905
349.35
610.53
9768
20216
31.46
62050
837
67.97
10190
36.40
656.67
1024
32.05
2659
31.55
62490
11 12
13.63
1500
30.96
604.31
1091
10.50
707
996
6 03
25.63
55753
649
35.16
52386
224.38
7437
26.66
437.53
951
35.12
402
do....
584
29.51
401.61
858
2.96
2.88
2.87
4.04
.
Distilling materials produced at wineries
See footnotes at end of tables.
19408
173.37
1396
140.53
2
449.42
623.26
113.71
r2
r
460
r
19
363.70
604.31
10760
188.20
r
r
28.98
575 15
2.06
193
781
1.92
162
2.18
257
292
198
052
1336
0 67
1365
0 70
0 52
4 gy
30.03
49203
8 16
11.35
3 81
28.62
46753
9 45
1.37
4 97
3096
43501
1061
8 83
208
Aug.
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
S-21
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:
Production (factory) @
...
Stocks, cold storage, end of period
Price wholesale 92 score (N Y.)
8
3329
8
mil Ib
do....
$ per Ib
1,145.3
304.6
1.448
1,228.2
429.2
1
1.535
82.7
515.5
82.3
515.6
85.2
489.5
99.5
470.0
93.4
451.1
109.5
429.2
128.3
433.1
116.8
440.4
123.4
447.8
mil Ib..
do
3,984.3
2,375.8
4,229.0
2,608.5
348.9
220.9
337.6
207.1
331.1
191.1
338.5
200.3
330.5
190.3
368.6
220.5
347.0
218.4
325.8
204.9
376.3
232.2
Stocks cold storage end of period
do
American, whole milk
do....
Imports
do
Price, wholesale, cheddar, single daisies
(Chicago)
$ per Ib
578.8
479.6
231.2
709.6
623.0
247.6
714.2
615.7
18.6
719.4
617.7
16.9
694.3
598.6
22.0
682.4
591.3
23.4
677.5
590.4
26.5
709.6
623.0
52.9
717.3
632.0
19.0
696.4
622.6
11.8
722.2
641.6
15.7
16.8
18.8
7174
20.6
18.2
1.562
1.672
1.678
1.678
1.678
1.685
1.692
1.684
1.684
1.684
1.684
1.684
1.684
1.684
1.684
Cheese:
Production (factory), total @
American whole milk @
Condensed and evaporated milk:
Production case goods @
mil Ib
Stocks, manufacturers', case goods, end of
period
mil Ib..
5403
o
8
1 178 8
8
740.9
8
813.2
8
8
724.7
757.9
66.8
68.1
59.6
62.9
62.1
68.6
58.1
53.6
61.5
51.8
46.0
81.6
99.1
101.1
84.8
58.6
46.0
45.5
40.7
47.7
do....
43.4
34.9
2.7
2.4
3.0
2.9
3.1
3.7
2.2
5.0
1.2
1.8
1.8
Fluid milk:
Production on farms $
do....
Utilization in mfd. dairy products @
do ..
Price wholesale U S average
$ per 100 Ib
128,525
71,665
13.00
132,634
76,004
13.80
11,344
6,463
13.40
11,104
6,178
13.50
10,638
5,848
13.70
10,751
5,885
14.00
10,384
5,533
14.00
10,847
6,208
14.00
11,047
6,370
13.90
10,311
6,099
13.80
11,642
6,945
13.60
13.40
13.20
mil Ib
do....
82.7
1,160.7
92.7
1,314.3
7.1
119.7
7.9
112.9
8.2
93.0
8.9
92.0
8.5
89.3
8.9
110.1
9.2
104.1
8.0
107.2
9.4
125.3
8
do....
do....
5.3
85.0
6.0
86.7
2.9
104.3
3.0
87.2
2.8
83.7
4.3
75.8
6.0
86.7
7.6
87.7
6.9
94.5
6.9
94.4
8
Exports, whole and nonfat (human food)
do....
Price, manufacturers' average selling, nonfat dry
milk (human food)
$ per Ib..
176.2
198.0
3.3
99.1
26.3
30.9
17.0
8.2
7.9
2.0
9.4
12.6
17.4
0.887
0.939
0.938
0.938
0.939
0.944
0.942
0.940
0.936
0.936
0.937
(7)
3,918.3
295.7
301.2
358.8
369.6
312.8
318.6
285.8
299.5
360.9
353.7
Exports
Dry milk:
Production:
Dry whole milk @
Nonfat dry milk (human food) @
Stocks, manufacturers', end of period:
Dry whole milk
Nonfat dry milk (human food)
1.684
1950
8
89.1
2.4
2.5
8
35,512
13.10
"13.30
13.20
8
29.2
4172
8
9.6
127.4
11.4
18.2
20.4
23.1
339.4
344.8
243.7
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye, wheat)
Barley:
Production (crop estimate)
fl
Stocks (domestic), end of period, total $
On farms $
Off farms
Exports including malt §
mil. bu..
Oats:
Production (crop estimate)
fl
Stocks (domestic), end of period, total $
On farms $
Off farms
mil bu
do....
do
do
Exports including oatmeal
do
Price, wholesale, No. 2, white (Minneapolis)
$ per bu..
Rice:
Production (crop estimate)
mil. bags #..
California mills:
Receipts domestic rough
mil Ib
Shipments from mills, milled rice
do....
Stocks, rough and cleaned (cleaned basis), end
of period
mil Ib
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. Ib..
Shipments from mills, milled rice
do....
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. Ib..
6,644.8
5,858.8
4,141.5
1,717.3
2,485.3
2
458.3
391.0
329.3
61.7
95.9
451.0
303.0
148.0
6.7
12.4
12.0
16.5
8.7
7.7
4
2265
147.3
79.2
332.2
230.7
101.5
8.5
8.2
6.5
3.9
508.8
7.5
6.3
2,159.3
5
1,034.0
5
490.1
5
543.8
147.2
150.0
139.2
194.6
175.0
172.4
151.1
147.2
189.3
8,315.1
3
1, 145.6
212.4
195.0
12.8
119.8
179.8
9
457.8
3840
73.7
591.5
4
151.5
4
126.9
4
236.5
200.2
36.3
3647
3136
51.1
8,318.7
3
2,708.1
3
2
508.1
364.7
313.6
51.1
10
3,853.7
5,074.7
3,569.7
1,504.9
6,898.6
4,965.4
1 933.2
516.2
4.9
9
2
8,201.0
6,898.6
4,965.4
1,933.2
10
1486
4
93.9
4
54.7
10
599.0
246
1.4
0.8
0.9
0.6
0.5
0.3
0.6
0.3
0.6
0.8
0.6
0.8
0.3
7
()
2
146.2
9
2
155.6
185.4
3,582
2,711
3,359
2,267
168
67
219
238
92
106
473
90
293
79
287
97
84
70
184
62
221
76
202
129
204
210
77
279
723
161
231
510
174
114
98
326
426
510
493
550
628
639
577
356
344
10,831
6,795
10,821
7,354
182
389
1,503
511
3,308
673
1,696
738
848
660
768
654
505
612
683
564
784
685
702
662
552
602
406
583
434
505
2,969
2,763
772
1,232
2,722
3,091
2,906
2,763
2,572
2,300
2,132
1,868
1,610
1,308
1,012
6,620
6,801
371
453
470
532
583
458
479
515
399
487
661
538
370
0.225
0.256
0.280
0.265
0.250
0.225
0.213
0.195
0.185
0.175
0.160
0.158
0.165
0.163
0.160
2
2
Rye:
Wheat:
Production (crop estimate), total 1J
C
9.1
Exports
do
Price, wholesale, No. 2, medium grain (Southwest Louisiana)
$ per Ib..
Stocks (domestic) end of period $
478.3
332.2
230.7
101.5
68.9
2
9
2
361.0
303.4
185.6
117.8
do
do
C
2
do....
do....
do .
do
Corn:
Production (crop estimate, grain only) fl .. mil. bu..
Stocks (domestic), end of period, total $
do....
On farms $
do....
Off farms
do....
Exports including meal and flour
3,914.4
18.6
7.8
16.5
9.3
do
9
4
5.7
7.8
145
19.9
10
157.9
0.165
10
19.9
3.1
mil. bu..
2
2
9
10
Winter wheat 1J
Distribution, quarterly @ @
do....
do....
2
2
9
10
Stocks (domestic) end of period total $
do
Off farms
Exports, total, including flour
Wheat only
.
See footnotes at end of tables.
2,374
2
479
1,895
2,191
2,793
2
695
2,099
2,523
do....
1,903.2
753.4
1,149.7
2,176.0
954.8
1,221.2
do....
do
1,344.5
1,309.5
1,647.7
1,610.8
6
140.4
138.1
148.7
145.4
1,049
559
620
2,733.9
1,204.9
1,529.0
2,176.0
954.8
1,221.2
1,556.7
7480
808.7
195.8
194.1
157.6
156.9
127.8
127.5
137.8
137.4
125.6
124.2
143.8
138.7
164.5
159.1
'6398
2,769
9
674
2,096
4
1,159.0
4
579.8
4
579.2
154.1
147.4
118.9
114.8
157.9
155.7
118.7
117.9
2,816
10
709
2,106
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
September 1982
1982
1981
1981
July
Annual
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
22,471
406
50215
23,160
424
52338
3744
944
352
10.500
10.538
Aug.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat flour:
Production:
Flour $
thous sacks (100 lb.)..
Millfeed $
thous sh tons
Grindings of wheat iji
. thous bu..
Stocks held by mills, end of period
thous sacks (100 lb.)..
Exports
do
Prices, wholesale:
Spring, standard patent (Minneapolis)
$ per 100 lb..
Winter, hard, 95% patent (Kans. City)
do....
r
21,886
r
393
49,018
282 655
4866
628 599
283 966
5045
634 381
23,342
410
51,194
23665
431
53323
24 189
436
54589
24712
440
55552
22,835
410
50982
22,321
403
50,197
23,985
432
53,740
23,553
423
52786
25,256
453
56,663
22,474
403
50348
3842
15014
3460
15839
987
1420
4222
724
284
117
3,460
184
605
2 165
3,384
2336
2858
10.844
10.347
10.813
10.275
10.750
10.300
10.588
10.200
10.525
10.025
10.675
10.313
10.338
10.763
10.638
10.950
10.700
10.738
10.638
10.538
10.425
10.550
14,233
15,058
1,335
1,314
1,365
1,376
1,193
1,232
1,087
1,070
1,253
1,220
1,222
339
198
392
238
596
401
657
466
716
532
703
528
469
305
392
238
378
238
374
236
377
233
0.270
0.265
0.290
0.265
0.245
0.245
0.235
0.230
0.255
0.250
0.256
1936
1934
16 1
162
157
164
162
169
166
150
31
24
35
22
39
27
20
27
19
25
21
26
38
24
35
22
26
21
19
19
39
17
0.628
0.690
0.675
0.687
0.707
0.713
0.773
0.721
0.762
0.742
0.752
thous animals
do....
2294
31642
2478
32,819
204
2,765
198
2772
228
2846
236
2,939
217
2,668
254
2,829
228
2,771
210
2591
263
2,819
Prices, wholesale:
Beef steers (Omaha)
$ per 100 lb..
Steers, stocker and feeder (Kansas City) .... do....
Calves, vealers (So. St. Paul)
do....
6696
75.13
75.52
6384
64.26
77.18
67.86
61.51
76.00
6637
64.15
77.25
6537
64.58
77.50
61 45
62.52
71.75
5984
61.77
68.88
5924
58.96
67.50
6075
59.22
69.00
6354
62.37
67.50
6580
63.96
71.50
91,882
87,850
6,540
6580
7320
7,872
7,308
7,923
6,875
6340
7,691
39.48
44.29
51.01
51.14
48.89
46.15
42.10
40.17
45.77
49.70
49.50
52.16
58.35
59.01
14 4
149
157
17 1
19 1
184
177
163
17 1
198
198
20 1
218
224
1
10.566
^o.ne
1
r
1 760
10.188
POULTRY AND EGGS
Poultry:
Slaughter
„
mil. lb..
Stocks, cold storage (frozen), end of period, total
mil. lb..
Turkeys
.
do
Price, in Georgia producing area, live broilers
$ per lb..
Eggs:
Production on farms
mil cases §
Stocks, cold storage, end of period:
Shell
thous. cases §..
Frozen
mil. lb..
Price, wholesale, large (delivered; Chicago)
$ per doz..
r
l,360
1,298
4
430
4
292
0.235
0.270
0.260
4
0.270
0.250
0.617
0.616
66 18
64.17
84.84
65 14
66.42
81.12
59.70
63.18
484
4
31
4
23
0.683
0.608
0.604
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
Cattle
Hogs:
Slaughter (federally inspected)
thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 lb..
Hog-corn price ratio (bu. of corn equal in value
to 100 lb. live hog)
Sheep and lambs:
Slaughter (federally inspected)
thous. animals..
Price, wholesale, lambs, average (Omaha)
$ per 100 lb..
4
608
8 193
4
69 11
64.72
78.00
70 18
63.70
85.00
72 10
66.07
82.88
4
20 043
4
r
23 2
279
60.50
57.25
50.50
9097
4
502
147
215
111
158
5,363
5,789
439
467
546
558
476
522
510
490
570
59.81
54.44
59.00
53.75
50.25
51.00
46.00
46.50
49.75
51.50
59.00
59.50
66.25
38,590
750
1,663
2,052
38,675
578
1,847
1,832
3,041
629
128
162
3,044
539
144
168
3,247
509
123
180
3,433
547
174
167
3,185
552
154
120
3,417
578
C
153
118
3,152
554
129
127
2894
524
147
106
3,296
536
124
160
131
169
167
167
21849
338
425
1 531
22629
266
486
1 317
1855
280
30
116
1861
252
39
119
1930
242
40
141
2011
252
48
123
1838
241
39
80
1942
266
43
80
1889
258
33
93
1 750
'232
46
72
1917
220
44
108
40
130
52
116
5462
4
196
49
158
40
113
1.044
0.990
1.072
1.039
1.030
0.960
0.946
0.937
0.974
1.012
1.038
1.095
1.151
1.112
1.026
310
9
328
11
24
13
25
14
30
13
31
13
27
11
30
11
29
10
28
8
33
9
1493
MEATS
Total meats (excluding lard):
Production, total
Stocks, cold storage, end of period
Exports (meat and meat preparations)
Imports (meat and meat preparations)
mil. lb..
do....
do....
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 lb..
Lamb and mutton:
Production, total
Stocks, cold storage, end of period
Pork (excluding lard):
Production, total
Stocks, cold storage, end of period
Exports
Imports
mil. lb..
do....
mil. lb..
do....
do
do
4
4
1.008
4
85
4
16
4
15,719
264
C
347
432
1,162
284
19
39
1,157
225
19
42
1,287
207
C
22
29
1,391
238
28
36
1,319
255
30
35
1,445
264
29
33
1,234
249
30
30
1 116
246
25
30
1,346
274
21
46
22
34
42
43
3550
4
265
32
50
19
42
2548
1.011
2665
1.137
2789
1.261
2826
1.212
2843
1.185
2845
1.148
2833
1.074
2925
1.007
271 1
1.209
278 6
1.169
2824
1.100
283 7
1.186
289 2
1.301
299 4
1.386
299 6
1.376
305 6
1.366
Cocoa (cacao) beans:
Imports (incl. shells)
thous. Ig. tons..
Price, wholesale, Accra (New York)
$ per lb..
148.5
1.354
2450
1.085
193
1.085
220
1.120
203
1.170
24 1
1.130
58
1.030
115
1.090
100
1.160
290
1.070
176
1.020
153
0.990
168
0.940
119
0.800
13 0
0.830
0.860
Coffee (green):
Inventories (roasters', importers', dealers'),
end of period
thous. bags fl..
Roastings (green weight)
do....
2,834
17,047
Imports, total
From Brazil
Price, wholesale, Santos, No. 4 (N.Y.)
Confectionery, manufacturers' sales @
do....
do
$ per lb..
mil. $..
18 153
3505
2.066
4,649
(33)
()
16555
3243
1.594
5,081
922
213
1.155
302
1213
172
1.270
430
1487
316
1.295
588
1565
309
1.470
450
1547
294
1.500
456
1 287
186
1.510
389
1 195
210
1.360
497
1490
267
1.360
475
1 147
227
1.450
382
1 476
299
1.450
331
1 335
213
1.450
351
1 282
264
1.450
1.450
mil. lb..
393
350
356
373
363
355
350
315
282
275
256
250
Prices, wholesale:
Hams, smoked #
Index, 1967—100..
Fresh loins, 8-14 lb. average (N.Y.)
$ per lb..
16,431
349
314
433
2
MISCELLANEOUS FOOD PRODUCTS
Fish:
Stocks, cold storage, end of period
See footnotes at end of tables.
(33)
()
1 150
256
1.270
582
378
r
280
"332
S-23
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Mar.
Feb.
Apr.
June
May
July
Aug.
FOOD AND KINDRED PRODUCTS; TOBACCO—Cent.
MISCELLANEOUS FOOD PRODUCTS— Cont.
Sugar (United States):
Deliveries and supply (raw basis): §
Production and receipts:
Production
thous sh tons
Exports, raw and refined
Imports raw and refined
Prices, wholesale (New York):
Raw..
Refined (excl excise tax)
Tea imports
(4)
4713
5 157
82
86
128
603
1 132
1 154
do
do .
do....
10838
10 149
2,970
10922
9731
3311
997
877
1928
985
853
1,602
1099
986
1,416
861
783
1579
842
766
2416
785
746
3,311
648
638
3743
(4)
(4)
3644
sh. tons..
thous sh tons
608,029
4 127
979 157
5054
88501 122 452
313
347
91,131
424
68370
653
65210
462
47,605
902
4370
223
16359
100
(4)
4,246
316
2953
215
2,837
142
15,619
218
$ per Ib .
do
0306
0405
0 198
0303
190 254
Deliveries total
For domestic consumption
Stocks, raw and ref., end of period
thous Ib
184 786
745
0 198
0285
0 185
0295
0 154
0236
0 160
0261
0 163
0261
0 167
0261
0 180
0282
0 178
0282
0 169
0282
0 176
0280
0 195
0300
0208
0300
14586
19 128
13205
15855
13473
12 121
15055
15464
13787
13 176
16518
14309
2,212
360
(44)
()
14286
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period $
Exports, incl. scrap and stems
Imports incl scrap and stems . ...
mil. Ib .
thous. Ib..
do
4850
591,518
365 622
5080
575,255
335 920
31,277
22 171
Manufactured:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt .
Taxable
Cigars (large) taxable
Exoorts. cigarettes
millions
do....
do
do....
94256
620,565
3292
81.998
92006
638,114
3258
82.582
6766
51064
242
6.231
1
mil. Ib..
1
1,786
5
2,060
27,398
32 153
4697
45,510
32372
63,222
27889
7555
58716
261
6.468
7636
58,150
313
7.149
8 141
56635
300
7.300
86,775
22946
5,080
55,577
12970
31,670
31 264
7447
49658
267
8.058
6479
42,300
247
4.713
1,902
39,392
16579
4909
49,862
20393
41,756
22659
53,960
24820
37,226
25012
23,910
17725
7479
48234
215
6.426
8990
52850
221
8.148
7584
57430
267
7.337
6577
48,368
248
5.540
5919
48,240
269
5.670
5.797
4.461
17,449
18,610
18,486
6
1,924
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
Price, producer:
Sole, bends, light
thous. sq. ft..
192,597
index, 1967—100..
283.8
192,193
2
13,921
10,918
3067
12,682
19,464
11,660
10,849
10,343
13,696
15,534
35040
30493
27624
26259
27 128
31060
26894
r
27 940
28085
24545 25 196
7631
6362
1 980 2213
303
397
22562
6'l97
1734
266
21061
4715
1848
238
20 178
4829
1252
257
20 102
5734
1292
274
22975
6672
1413
365
19680
5,991
1223
334
r
20
878
r
5,672
1390
298
20319
6,410
1 356
615
505
629
681
839
693
742
636
104.0
207.7
94.7
105.8
215.6
98.3
106.0
208.4
98.3
106.0
209.4
98.5
101.1
106.3
211.4
98.5
218.7
99.1-
2,251
419
1,822
2,308
465
1,843
15,393
2847
LEATHER MANUFACTURES
Footwear:
Production total
.
thous pairs
Shoes, sandals, and play shoes, except athletic
thous pairs
Slippers
do.. .
Athletic
do
Other footwear
do....
396 851
375 473
26968
299 131
73337
24383
3,271
278 979
70834
25660
3 171
20618 22351
4645
6200
1 705 2 152
246
257
9,781
9,688
103.1
103.6
103.8
104.1
103.6
103.9
103.7
104.9
103.5
211.7
214.4
99.6
214.0
102.9
213.6
101.0
217.9
97.8
212.1
93.5
212.3
93.5
212.3
93.0
204.1
94.4
205.3
94.4
1,891
402
1,489
1,837
430
1,407
2,148
411
1,737
2,148
446
1,702
2,281
416
1,865
2,336
427
1,909
Exports
do....
Prices, producer: *
Men's leather upper, dress and casual
index, 12/80=100..
Women's leather upper
Women's clastic um>er
index, 1967=100..
index. 12/80-100..
551
30703
785
32887
640
663
1 121
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
Imports total sawmill products
SOFTWOODS
Douglas fir:
Orders new
Production
Shipments
Stocks (gross) mill end of period ...
Sawed timber
do
mil. bd. ft..
..
do
do
do
do....
Price, wholesale:
Dimension, construction, dried, 2" x 4", R.L.
$ oer M bd. ft..
See footnotes at end of tables.
3
3
29,713
3
7003
22710
3
29,715
3
6 812
22903
5842
1972
3870
2483
545
1938
2,395
498
1897
6 103
1886
4217
2554
572
1982
2,431
546
1885
6232
1918
4314
2,307
542
1,765
2,260
518
1,742
6284
1,947
4337
2379
527
1852
2,382
514
1868
6285
1964
4321
1,831
441
1390
1,765
418
1,347
2,045
441
1604
1,989
413
1,576
1,810
356
1,454
1,637
393
1,244
6075
1968
4 107
5842
1,972
3870
6016
1,936
4080
6068
1,906
4 162
6042
1,842
4200
5983
1,827
4 156
5915
1,786
4,129
2,338
443
1,895
2,513
438
2,075
5853
1,789
4,064
9518
842
465
660
755
728
591
530
585
601
792
848
888
874
486
510
466
458
483
455
536
458
476
477
459
429
407
471
393
443
523
496
473
487
486
481
550
500
504
488
6815
6821
912
6,393
429
6395
6463
844
521
481
941
546
518
969
526
486
1,009
533
533
1009
403
457
955
396
507
844
459
365
938
457
421
974
454
470
958
465
482
941
482
492
931
472
530
939
520
516
943
540
117
422
523
129
394
31
6
25
51
14
37
43
14
29
29
9
20
38
6
31
47
19
28
34
11
22
34
8
26
54
18
36
46
14
32
48
14
35
40
9
30
31
8
23
31,632
3
7297
24,335
3
31,126
3
6679
24447
5805
1,807
3998
1 655
9859
6,791
499
223.42
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
Aug.
July
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LUMBER AND PRODUCTS—Continued
SOFTWOODS— Continued
Southern pine:
Orders new
roil
Orders unfilled end of period ...
Shipments
bd ft
do....
'6559
419
1
6 128
418
546
441
448
407
463
402
498
399
461
430
400
418
344
430
409
448
520
476
486
446
599
467
'6758
do
*6663
*6 143
*6 129
557
545
512
482
485
468
488
501
364
430
415
412
366
332
419
391
487
492
515
516
556
595
Stocks (gross), mill and concentration yards, end
of period
mil bd ft
1270
1284
1313
1343
1360
1347
1281
1284
1318
1341
1340
thous bd ft
280 243
227 020
20898
21048
16719
19043
21334
15032
14283
18936
20 195
23660
19318
26989
18752
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
3372
Exports total sawmill products
Western pine:
Orders new
..
Orders unfilled end of period
1 346
1 295
3247
.. mil bd ft .
do
7730
326
7235
219
627
377
569
314
538
291
573
264
489
243
428
219
407
257
413
261
562
333
608
302
605
331
609
305
629
304
Production
Shipments
do....
do
7,613
7807
7,261
7342
616
619
656
632
511
561
582
600
436
510
390
452
423
369
417
409
529
490
621
639
572
576
603
634
642
630
Stocks (gross) mill end of period
do
1 185
1 104
1284
1308
1 166
1 104
1 158
1 166
1 205
1 187
1 183
1 196
1208
36
65
7.6
30
71
8.7
24
5.7
7.7
28
5.2
10.1
20
5.4
9.9
22
5.4
10.3
26
6.9
9.9
19
6.0
10.5
18
6.0
10.2
21
6.2
11.8
22
5.8
11.4
146
577
1
Price, wholesale, Ponderosa, boards, No. 3,
1" x 12" R.L. (6' and over)
$ per M bd ft..
1 258
1240
28755
HARDWOOD FLOORING
Oak:
Orders unfilled end of period
roil
Shipments
Stocks (gross), mill, end of oeriod
19
780
12.4
bd ft
do ...
do....
28
83 1
10.1
31
66
8.8
21
70
7.9
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap ..
Pig iron
thous sh tons
....
do
do....
4 101
11 168
73
2904
6415
16
218
348
1
194
450
1
228
395
1
233
532
2
244
480
1
227
509
1
173
462
4
154
539
(2)
197
522
1
148
507
1
194
812
1
180
806
56
do....
do
.... do .
15495
558
400
19898
572
433
1663
37
36
2226
59
38
1748
56
30
1872
33
34
1921
43
42
1,613
45
64
1,969
32
36
1,600
41
16
1,356
36
14
1,029
41
48
1,696
57
71
1,784
49
35
thous. sh. tons..
do
do....
do
1
42,207
MO 954
'83,710
8018
rl
43,260
rl
41 981
rl
85,097
r
8 118
3689
3454
7 168
8245
3,631
3564
7,116
8383
3591
3542
7 116
8408
3353
3496
6833
8418
3004
3064
6054
8453
2,817
2661
5,656
8261
2,742
2715
5,917
7826
2,753
2889
5,615
7870
2,597
2779
5,391
7716
r
2,418
r
2611
r
5,077
r
7650
2,311
2326
4,699
7569
Prices, steel scrap, No. 1 heavy melting:
Composite
$ per Ig. ton..
Pittsburgh district
do
92.17
96 17
90.17
10050
87.07
9900
91.37
10750
89.74
10250
84.24
9550
78.01
8600
76.02
8550
81.70
9400
80.47
9150
75.93
8500
69.98
7500
62.85
6400
55.21
5950
53.84
5750
Iron ore (operations in all U.S. districts):
Mine production
thous. Ig. tons..
Shipments from mines
....
do
Imports
do....
'69,613
X
69 594
25,058
rl
73,174
rl
72 181
28,042
7 112
9703
3,059
6,860
9300
4,113
6382
8 133
2595
5731
7 112
2555
3910
5048
2029
4,430
3507
1,585
5,687
1076
1,630
5,244
1 180
1,018
5,126
1433
646
5,347
2265
773
4,358
5306
1,199
2,525
4964
1,865
1,508
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel plants
do....
Consumption at iron and steel plants
do....
Exports
do
87,188
89,397
5 073
96,645
94,958
5 546
12,350
8,022
530
12,159
8,024
607
9,927
7,708
391
9,070
6,913
315
7,241
6,370
8358
5,579
6,038
685
1,664
5,518
44
1,589
5,175
1
1,596
5,670
1
2,795
4,888
211
6,672
4,896
349
7,182
4,342
539
6,746
4,705
289
60243
12 734
36,203
6571
56356
23019
27904
5433
58755
20586
31931
6238
59574
18837
34062
6675
60387
17 515
36 137
6735
60 144
16429
36939
6776
60243
17469
36,203
6571
60401
21594
32,298
6509
60894
25701
28,813
6380
57340
26576
24654
6 110
57725
29740
22504
5481
57645
28 314
24209
5 122
58457
26380
26 909
5 168
28 860
4908
775
68
55
72
51
67
49
65
49
65
55
22
58
35
68,721
*69 053
889
73,456
75051
859
6,268
6508
817
6,259
6521
786
5,889
6029
817
5,419
5527
812
4,750
4824
859
4,489
4766
881
4,169
4384
822
4,622
4869
782
3,967
4083
745
3,904
3975
748
3,595
3,516
213.00
213.00
213.00
213.00
213.00
213.00
Imports:
Steel mill products
Scrap
Pig iron
...
....
1 113
37
9
Iron and Steel Scrap
Production
Receipts net
Consumption
Stocks end of period
3,019
3 114
6,180
7762
r
r
r
5477
5800
Ore
Stocks, total, end of period
At mines
At furnace yards
At U.S. docks
do
do
do....
. do
Manganese (mn. content), general imports
do....
56066
ll 725
35,706
6095
795
r
rl
r
Pig Iron and Iron Products
Pig iron:
Production (including production of ferroalloys)
thous. sh. tons..
Consumption...
...
•
do....
Stocks, end of period
do....
$ per sh. ton..
203.00
206.00
203.00
203.00
213.00
213.00
4,782
4847
841
213.00
Castings, gray and ductile iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do....
For sale
do
964
11,799
6457
743
11,929
6702
848
984
577
843
951
570
833
956
548
781
986
555
727
823
458
743
681
344
783
771
399
761
764
412
726
860
482
696
771
445
651
741
432
Castings, malleable iron:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do....
For sale
do....
22
450
206
32
421
199
40
31
14
46
33
17
36
33
15
31
35
18
33
26
13
32
23
10
31
24
12
29
26
15
29
30
13
25
28
12
24
27
12
Price, basic furnace
See footnotes at end of tables.
3,277
S-25
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
..
thous sh tons ^IISSS
Rate of capability utilization
percent..
72.8
Steel castings:
Orders, unfilled, for sale, end of period
thous. sh. tons..
Shipments, total
do....
For sale total
do
605
1,878
1 701
rl
120 828 10 160
•78.3
77.6
10 120
77.3
9618
75.9
9003
68.7
7962
62.8
7672
58.6
7737
59.3
7 178
60.9
8049
61.7
7 006
55.2
6678
50.9
6050
47.7
5 719
43.8
385
1,752
1568
489
127
114
489
137
121
469
146
131
366
144
129
366
127
116
385
122
110
381
115
106
359
114
104
335
129
117
304
113
103
276
101
93
83853
87014
7 115
7020
7039
6723
5783
5666
5608
5434
6 163
5488
5 149
5372
4514
5342
5,207
8080
1797
5598
4,903
7397
1458
400
392
584
114
434
395
586
89
437
432
630
88
437
362
543
99
385
313
498
98
389
299
482
81
314
329
463
98
285
323
498
102
325
365
527
91
318
321
393
73
306
290
330
74
291
284
316
68
257
272
259
56
do
do....
do....
do....
13258
6,911
4,683
1,585
13828
'7,770
4,371
1,620
1 115
593
388
128
1 106
528
342
131
1 163
659
364
134
1 140
638
364
133
953
543
296
109
898
471
323
99
912
525
271
112
821
506
205
105
1015
573
320
117
865
470
298
93
846
434
321
87
855
440
319
92
668
304
296
66
Pipe and tubing
...
.. do
Wire and wire products
do....
Tin mill products
do
Sheets and strip (incl. electrical) total .... do ..
Sheets: Hot rolled
do....
Sheets' Cold rolled ..
.
... do
By market (quarterly):
Service centers and distributors
do....
Construction incl. maintenance
do....
Contractors' products
do
Automotive
. . do .
Rail transportation
do....
Machinery industrial equip tools
do
Containers, packaging ship, materials
do....
Other
do
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
9097
1768
5709
33595
12,116
13313
10286
1,694
4927
36924
13,451
14396
859
137
413
3 102
1,146
1 209
881
130
399
3001
1,124
1 154
849
135
396
2910
1,063
1 125
892
133
351
2765
976
1085
813
107
327
2288
863
857
759
102
412
2246
901
811
753
105
389
2245
793
869
702
115
449
2 139
768
817
602
125
328
2462
828
1005
476
123
338
2367
759
957
388
123
386
2661
848
1069
274
113
331
2285
758
884
16,174
8,787
3362
12 156
3,178
4566
5,549
30082
17,546
8,761
3225
13 101
2,180
4646
5293
32264
Steel Mill Products
Steel products, net shipments:
Total (all grades)
thous. sh. tons..
By product:
Semifinished products
... do
Structural shapes (heavy), steel piling
do....
Plates
do .
Rails and accessories
do
Bars and tool steel total
Bars: Hot rolled (incl. light shapes)
Bars: Reinforcing
Bars: Cold
finished
3
662
133
400
2645
953
1 030
3,429
1,684
592
2367
411
960
1,260
6500
3,704
1,812
610
2,472
422
947
1,129
7075
4,151
2 190
796
3218
455
1 148
1278
7938
3,213
1,651
598
2,791
277
689
1,115
5676
284
300
300
305
305
304
305
300
300
299
294
288
96
69
113
74
106
72
11 1
74
112
75
113
74
113
74
113
74
116
72
113
72
112
71
110
70
3
r
28 1
269
109
6.9
104
65
2
1,023
2
512
2
179
2
788
2
62
2
152
2
337
2
1461
50
51
53
4.8
r
52
49
4.7
51
321
167
300
182
61.0
14.1
51.0
19.5
66.5
15.5
42.2
16.7
46.0
18.3
26.6
15.4
19.9
15.9
48.5
19.9
24.2
13.3
0.7600
0.7600
0.7600
0.7600
0.7600
r
995
r
783
452
119
1,020
763
441
115
6683
6682
119 9
117.2
110.4
69
1120
105.4
97.9
74
970
99.3
90.5
88
90 1
93.9
85.8
80
53
54
54
53
53
53
55
54
52
52
52
51
66
699
734
59
71.8
724
68
6.1
60
67
6.1
62
65
60
62
64
5.8
59
63
5.0
51
59
3.9
43
60
4.7
46
62
5.3
51
59
5.8
61
57
5.0
52
5 130
1,377
4948
1,653
426
149
416
139
393
140
396
150
364
129
364
123
351
!44
311
156
336
!70
319
170
580.5
727
698.5
140 1
639
125
67.0
110
60.5
140
55.2
156
41.5
149
49.3
13.7
38.5
175
65.9
19.1
61.7
21.4
7150
315.3
0.6957
3442
271.2
0.7600
293
160
168
15.2
92
17.2
24 1
21.6
23 1
16.0
246
16.8
22 1
18.0
18.8
17.8
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
0.7600
14,057
10485
5 862
1 538
13,147
10310
5 962
1 581
1,039
859
494
119
1,119
866
514
132
1,082
871
514
134
1,040
826
476
128
847
665
368
110
909
672
383
98
5 076
6 607
5 964
6 086
6 187
6 276
6 524
6 607
6 670
6742
6658
1 168 3
1,210.9
1 1219
139 o
1 529 0
1,520.7
14165
104 1
123 0
120.8
1115
92
135 4
110.3
103.4
69
1339
121.8
1144
74
139 9
128.9
120.5
83
134 1
113.4
108.5
62
113 3
130.2
123.9
62
112 6
106.2
97.3
89
107 4
104.7
96.2
85
r
5 538
42.4
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
do....
Plates sheets bars etc
do
Exports:
Metal and alloys crude
do
Plates, sheets, bars etc
do....
Price, primary ingot, 99.5% minimum .... $ per lb..
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
Mill products total
.
..
mil lb..
. ... do ..
Castings
do
Inventories, total (ingot, mill products, and
Copper:
Production:
Refinery primary
From domestic ores
Secondary, recovered
as refined
Imports (general):
Refined, unrefined,
scrap (copper cont )
Refined
Exports:
Refined and scrap
Refined ..
Consumption, refined
do....
... do ..
..
1
r
r
849
738
430
106
r
934
734
430
105
r
r
r
r
l,095
831
482
120
r
.
... do ..
5730
631.9
544
58.4
50.2
58.8
32.5
60.1
47.5
51.8
.
... do ..
do
5203
4318
502.5
3593
416
322
48.1
378
457
378
52.7
367
42.4
302
42.3
243
45.2
206
40.6
15.7
30.8
18.8
30.6
22.3
47.5
20.4
50.6
29.2
47.5
27.2
... do .
do....
330 1
17.4
3397
27.2
185
1.3
228
1.7
218
3.0
35.0
0.7
19.4
2.1
21.3
1.8
35.2
0.4
21.9
0.6
29.4
0.9
30.5
1.0
39.1
1.6
20.4
1.6
33.5
2.9
2 083
365
2 045
'511
1.0242
0.8512
0.7863
0.7878
0.7586
0.7627
0.7487
0.7149
0.7105
c»t k
f"' H
H f
' H
H
Price, electrolytic (wirebars), dom., delivered
$ per lb..
See footnotes at end of tables.
493
511
479
409
0.8441
0.8739
0.8472
0.7600
0.8231
0.8122
0.8029
0.7100
SURVEY OF CURRENT BUSINESS
S-26
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS— Continued
Copper-base mill and foundry products, shipments
(quarterly total):
Brass mill products
Copper wire mill products (copper cont )
Brass and bronze foundry products
Lead:
Production:
Mine, recoverable lead
thous. met. tons..
Recovered from scrap (lead cont )
do
J
544
659
109
652
702
116
545
653
113
444.1
5673
31.7
464
38.1
49 1
47.8
525
47.3
509
39.6
522
41.2
487
40.5
455
43.5
482
48.7
480
44.3
476
42.1
46 1
42.6
448
689
1,125.3
100
81.1
39
93.1
43
99.9
78
110.4
30
94.5
21
89.6
5.6
93.9
34
84.4
49
90.9
38
88.3
1.9
82.1
54
84.5
16
135.3
83.3
117.2
116.0
106.9
100.5
88.0
83.3
78.9
79.3
81.2
85.7
85.6
82.1
79.2
54.8
958
79.5
98 1
43.7
963
41.1
974
45.9
105.0
59.8
98.9
71.9
101.0
79.5
98.1
68.3
92.0
70.0
88.4
73.4
85.2
65.5
87.2
61.7
81.7
69.0
884
596
04246
417
03653
46 1
04098
509
04389
528
04032
540
03705
458
03388
417
03107
41.7
02967
36.8
02870
35.1
02764
345
02606
32.7
02609
36 1
02476
02718
842
45,983
18,638
l
l 703
*56 362
'44 342
232
45,873
15,010
1 705
48,450
38750
0
3,440
1215
185
3900
2900
0
2,819
1,310
140
4,200
3000
0
3,038
1,225
125
3950
3000
0
3,261
1,280
155
3,900
2950
232
3,951
1,150
115
3,400
2500
0
4,216
1,270
160
2,950
2200
295
2,312
1,025
85
3,400
2500
72
1,089
1,150
r
95
3,300
2500
162
2,742
l,135
120
3,750
2800
149
3,145
1,005
150
5100
3600
0
2,966
1,065
140
5,000
3600
156
2,055
93
2,450
do
do....
$ per Ib..
4293
5,504
8.4600
5,989
5,988
7.3305
1019
6,465
6.8981
287
5,663
7.5339
471
5,710
7.8022
253
5,325
7.9560
171
5,563
8.2147
1 180 4748
5,988
3,872
7.9352 7.7590
1610
3,490
7.4519
441
3,829
6.6917
454
5,222
6.5600
r
4,953
6.6284
666
4,653
6.0826
thous. met. tons..
334.9
305.3
23.6
24.6
28.3
28.0
25.4
23.4
24.2
24.7
25.3
23.4
25.6
27.0
do....
do
113.8
3290
117.7
6026
8.5
554
13.6
508
11.4
430
7.8
482
3.7
593
9.2
328
3.2
20
6.1
330
6.3
362
2.4
264
4.0
353
4.9
398
do
do
676
236 1
582
224 1
32
173
32
175
46
185
46
195
46
187
53
186
46
17.1
42
16.8
47
182
68
180
62
177
39
173
369.9
^ll 1
0.3
341.8
8347
0.3
30.0
64 4
(2)
26.7
702
27.0
662
0.1
18.7
226
0.3743
34.6
72 1
0.4455
18.9
689
0.4625
348.3
828
156.5
470.0
1069
225.4
375.5
382.0
446.2
292.5
413.9
324.2
388.7
377.8
323.0
428.0
262.3
273.0
221.4
241.2
20,495
24 110
18,734
19784
1,383
1258
1,596
1 492
1,765
1812
1,571
1 722
1586
1 814
1569
1976
1250
1 447
1398
1452
1 665
1 828
1216
1386
1228
1402
1 558
1567
787
931
39,448
31,885
2,366
2,482
2,721
2,622
2622
2,551
2,277
2,053
2430
1658
1 587
2216
824
109.8
115.6
121.9
119.2
115.6
112.6
111.7
110.5
107.6
104.1
98.9
91.9
85.3
84.6
81.4
134 5
142 3
149 4
150 6
147 2
147 9
140 0
132 5
135 2
130 9
133 3
134 4
123 5
121 3
120 0
131.2
144.3
145.8
146.2
146.7
147.4
148.3
149.2
150.2
151.6
152.6
152.9
153.7
153.8
154.0
272
234
279
249
310
266
287
267
301
243
269
242
276
252
271
251
263
252
255
245
246
225
233
215
218
194
2 228 10 13685
1 945 80 12195
4 104 50 29535
3,552.45 255.95
2,873.3 3,837.8
16745
145 70
25960
22835
3,745.6
15095
140 45
36535
33605
3,531.2
157 10
145 80
33460
30570
3,353.7
13540
115 65
32975
28735
3,159.4
11255
101 05
39860
35885
2,873.3
15595
124 90
307 15
28450
2,722.1
123 15
113 30
293 15
27375
2,552.1
10575
90 20
33275
30305
2,325.1
46.70
42 95
6580
5605
550.7
36.35
31 00
76 10
6725
511.0
59.40
50 20
7230
6025
498.0
60.35
52 85
7840
7000
480.0
39.25
32 90
9230
7995
427.0
49.25
41 25
7640
4960
399.8
40.65
35 90
6645
5750
374.0
32.05
26 75
78 30
73 15
327.8
Imports (general) ore (lead cont ) metal
Consumption, total
do
do....
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)
fl
do
Scrap (lead-base, purchased), all smelters
(gross weight)
.
... thous met tons
Price common grade delivered
$ per Ib
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
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)
2636
2816
471
2467
2783
489
mil Ib
do
do
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..
549.5
6756
52 1
1,070.3
1
J
30.4
724
(2)
20.8
705
0.4747
(2)
19.5
724
0.4872
24.5
72 1
0.4587
26.6
598
(2)
31.6
729
0.4615
23.0
520
(2)
34.6
72 1
0.4259
24.2
55 1
(2)
36.7
70 1
0.4217
21.6
553
(2)
41.2
670
0.4272
r
r
21.4
600
(2)
41.8
657
0.3923
r
19.3
578
(2)
39.9
600
0.3550
r
21.5
588
(2)
35.3
608
0.3467
02582
5,100
3700
215
664
6.1255
0.7
278
18.7
0
(2)
279
577
0.3460
6.2549
205
03566
0.3779
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil $..
Electric processing heating equipment
do
Fuel-fired processing heating equip
do...
Material handling equipment (industrial):
Orders (new), index, seas, adj
1967-100..
Industrial trucks (electric), shipments:
Hand (motorized)
number..
Rider-type
do...
Industrial trucks and tractors (internal combustion
engines), shipments
number..
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977=100..
Industrial suppliers distribution: t
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
See footnotes at end of tables.
.
. ..
mil $ 3 884 75
do
3 495 50
do
3 680 80
do.... 3,206.00
do.... 4,749.7
do....
do
do
do....
do....
869.55
66495
1 010 95
878.55
384.8
716.75
61685
991 10
824.20
427.0
126.8
232
70.9
55.15
4860
7175
6235
569.8
115.3
284
540
113.7
202
61.0
733
175
269
115 10 rr68 00
107 55
53 75
23945 246 60
21460 r 224 15
2,200.8 2,022.2
37.70
29 95
60 00
5630
299.4
r
37.95
r
27 40
r
49 25
r
4490
r
288.2
r
232
194
191
195
91 65 PP71 60
55 15
58 75
324 60 P202 00
29655 P173 15
1,789.2 pl,658.8
34.25
29 25
84 55
7535
237.8
P
36
P
30
P
46
P
40
P
15
40
80
65
227.2
204
182
S-27
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
1981
July
Aug.
Sept.
1982
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT— Continued
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. $..
ELECTRICAL EQUIPMENT
4
699
4
4
861
4
27890
7373
4
9641
4
4
8769
4
3839
16503
1 306.1
4,781
387.5
15789
15699
4,309
410.9
3850
4224
1,127
112.4
3 010
3112
784
90.3
2 300
2525
547
58.2
45,480
1697 1
33,369
16050
7,557
3546
6774
3446
6218
3008
146 274
3,183.4
141 170
3,479.3
32277
805.5
31
8227
780
2577
887
2595
Batteries (auto. -type replacement), ship
thous..
50,063
53,597
4,037
5,278
6,096
6201
4,668
5012
4897
4269
3611
3,584
3640
Radio sets, production, total market
Television sets (incl. combination models),
production, total market
thous..
28,104
31,476
2,364
3,661
2
3,233
3767
3216
2
1814
2012
1671
2
1,609
2,460
3179
thous..
18,532
18,480
1,216
1,494
2
1,981
1,550
1,474
2
1,250
1,208
1,344
2
1,499
1,375
1,292
2703
283
190
r
238
199
511
r
229
376
243
2436
64
236
288
190
450
152
398
254
2357
52
202
234
176
456
111
416
293
1,955
2342
90
220
331
191
383
89
612
260
1 854
94
165
197
163
272
62
267
217
1831
163
144
206
152
264
76
246
189
1,767
1947
191
169
220
147
276
89
306
228
2 177
361
160
214
143
324
99
347
234
2650
572
151
272
161
343
117
383
253
1,911
2452
517
201
175
169
379
107
345
214
115
110
204
120
121
204
125
136
202
139
128
224
95
124
211
80
99
239
69
107
268
77
135
305
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....
30260
3,204
2738
2962
2,530
5 124
1681
4550
3 177
7,439
30336
3,692
2484
3 178
2,325
4944
1,561
4365
2977
7,785
1,446
1,538
2.818
1,417
1,496
2.785
r
1816
2
3629
1,710
1,177
2232
419
169
200
150
359
112
322
195
2341
289
160
207
293
437
161
352
214
1,677
2 196
145
187
199
166
456
151
323
196
70
110
295
69
113
246
r
85
12
248
84
83
230
79
648.1
41
648.0
45
637.5
106
637.5
637.4
9,071
534.5
535.0
1,420
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments.. ..thous..
Ranges, total, sales
do....
Water heaters (storage), automatic, sales &
do....
111
119
203
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production
Exports
Price, wholesale *
thous sh tons..
do
Index, 1967=100..
6056
1795
463.7
5423
2249
582.2
Bituminous:
Production t
thous. sh. tons..
Consumption total
.
do
Electric power utilities
do....
Industrial total
.
do
Coke plants (oven and beehive)
do....
823,644
814,716
73,345
669 061
568,322
125 815
66493
724 953
595,575
124 498
60860
66764
56,042
10459
5433
4880
263
239
Residential and commercial
do..
Exports
Price, wholesale
4924
do.... 199077
do
178 269
20808
do
do
9017
Stocks end of period total
Electric power utilities
Industrial total
Oven-coke plants
394
101
643.7
472
147
643.7
508
44
643.7
613
84
645.5
75,326
73250
62,951
68,478
83,100
57822
46,873
10374
5030
64 114
52968
10390
4833
57,195
48,975
575
756
417
307
619.9
457
252
629.1
550
171
642.5
78,204
79,823
86074
65 169
54,350
10580
5417
58975
48,385
10270
5319
58405
47685
10290
5 150
320
430
534
278
597.3
566
332
589.7
179 064 148 423 151 041 158 651 169 103 176 776 179 064
163 356 134 855 136 981 144 097 154 165 161 454 163 356 152 935 152 735
15708 13568 14060 14554 14938 15322 15708
6357
6 268
6446
6 446
5027
5602
6 179
do....
Index, 1967=100..
89,882
466.5
110,243
493.7
10,414
501.9
11,034
503.2
11,589
506.8
12,105
506.0
11,676
507.6
11,462
510.2
6,029
520.6
8,918
525.3
10,335
525.0
10,742
r
527.9
10,057
529.8
10,626
529.9
46,132
27094
42,786
28296
2360
2425
11,175
2466
2348
2445
10,580
2622
2,420
2207
8,828
2,551
2,428
2,533
2,397
959
963
1,091
37
154
175
129
3,683
717.9
3,459
718.2
3,899
718.5
3,286
718.7
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
.
thous. sh. tons..
do
Stocks, end of period:
Oven-coke plants total
At furnace plants . . .
.
do....
do
.
Petroleum coke iji
Exports
.
do
8627
7521
13 106
846
6724
6320
403
900
813
790
5,198
4805
394
765
708
836
6,724
6320
403
900
829
894
7,455
7,015
440
939
do
2 162
1 251
73
60
94
123
67
134
48
105
97
3,140
7968
3,416
796.8
3,775
788.2
3,587
785.9
4,581
787.2
2,790
787.2
3,049
770.3
3,750
744.8
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..
27026
5564
r
2,790
7989
5 049.3
76
4,656.5
69
389.9
67
409.3
71
382.5
68
383.3
67
378.2
68
395.1
69
372.9
66
325.4
65
361.7
65
353.0
66
378.9
68
388.4
74
6 266 9
5 905 7
490 7
494 2
498 2
500 5
476 2
501 3
4802
4186
4549
4375
4652
464 1
do
do....
3 146 4
591.8
3 1246
597.9
261 1
49.5
2659
50.5
2576
50.9
2648
51.6
2578
50.1
2673
51.1
2687
49.2
243.3
44.0
266.5
50.1
259.6
49.3
268.5
48.4
260.4
46.8
do
19462
582 5
379 3
16428
540 4
1353
44 8
1340
43 9
1453
44 4
1407
43 4
1240
44 3
1357
47 1
1186
436
86.9
44 4
92.7
456
88.0
406
107.3
41.0
117.6
39.2
68 3
58
14 5
223
76
179
176
277
295
-305
-510
-05
12.9
do
6441 7
60572
5048
4923
484 1
513.9
486.3
5350
518.3
468.9
509.7
505.0
485.1
469.0
104.9
94.3
83.2
133.9
8.0
9.7
6.3
13.6
5.8
9.8
7.0
15.9
8.3
12.7
5.9
14.5
7.4
18.3
8.5
14.0
10.0
17.4
5.2
18.3
8.1
16.8
2.8
18.3
All oils, supply, demand, and stocks: $
Production:
Crude petroleum
Natural gas plant liquids
Imports:
Crude and unfinished oils
Demand total
Exports:
Crude petroleum
Refined products
See footnotes at end of tables.
r
37 647
8035
do....
do....
r
2,848
718.7
S-28
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1982
1981
1981
Annual
September 1982
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
All oils, supply, demand, and stocks $—Continued
Domestic product demand total $
do
Gasoline
do
Kerosene
do
Distillate Fuel oil
Residual fuel oil
Jet fuel
Lubricants
Asphalt
Liquefied gases
Stocks end of period total
Crude petroleum ..
Strategic petroleum reserve
Unfinished oils natural gasoline etc
Refined products
.
...
do
do
do
do
do
do....
do
do
do
do
do
Refined petroleum products: $
Gasoline (incl. aviation):
Production
'.
mil. bbl..
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....
Stocks end of period
do
Price, wholesale (middle distillate)
Index, 1967=100..
Residual fuel oil:
Production
mil bbl
Imports
do....
Stocks end of period
do
Price, wholesale
Index, 1967—100..
Jet fuel:
Production
Stocks end of period
Lubricants:
Production
Stocks end of period
Asphalt:
Production
Stocks end of period
62424
2 420.5
580
58402
24149
462
487 1
212.5
27
4723
2072
29
10490
9180
3907
10328
7525
3686
738
619
337
583
1424
537.8
51
152
38.8
'14202
M829
4078
X
1920
*7453
560
1248
542.2
14885
5988
2303
1768
7129
2,394.1
J
2135
2,350.8
2058
200.2
1877
576.7
666.0
1.217
1261
(4)
(4)
4602
207.0
32
4479
205.4
25
899
56.0
300
758
48.1
312
735
45.1
296
39
29
58.1
42
4.3
47.6
42
5.2
47.4
46
7.1
45.8
41
10.5
44.4
45
14.3
38.6
14885
598.8
2303
176.8
7129
14609
606.2
2353
1815
6733
14314
612.2
241 2
184.0
6352
14009
614.2
2485
183.5
603 1
13499
611.0
2555
178.4
5604
13494
609.5
2610
174.5
5654
13623
606.9
264 1
174.1
5812
198.3
2029
206.0
205.8
192.3
216.8
166.3
216.1
186.8
201.5
183.7
182.0
196.8
176.2
203.9
1802
661.7
657.7
651.7
642.3
621.1
578.6
556.9
582.7
491 1
205.5
41
4652
192.5
44
5146
208.9
62
4926
184.2
64
4464
170.5
50
739
573
318
866
57.8
290
866
56.3
298
1010
67.9
307
1057
66.6
312
43
158
35.0
46
139
42.1
53
137
49.2
37
99
47.4
44
5.8
51.8
1 443 8 14583
5499
5656
173 1
1847
1810
1826
697 1
7258
14807
5607
1992
1799
7400
14883
584.3
2148
1780
7260
15062
5948
2225
1783
7330
206.3
1906
198.1
1932
200.9
192.9
677.4
668.4
666.4
666.1
1.398
1450
1.397
1449
1.398
1450
(44)
()
r
128
'2.3
115
27
13
2.2
12
23
1i
26
10
2.6
08
27
08
2.7
06
27
06
2.7
07
2.6
05
2.4
09
2.5
09
2.4
50 1
*114
436
11 1
28
132
30
136
27
138
27
126
37
124
4.5
11 1
44
96
4.3
91
3.3
8.8
36
96
2.4
89
27
92
863.4
1,039.8
1,067.5
1,052.6
1,044.6
1,043.2
1,042.7
1,037.9
1,044.3
1,034.3
1,027.9 rl,009.1
974 1
51.9
X
2054
9549
61.0
1902
745
5.5
1867
823
49
2003
783
3.9
2068
772
3.6
201 2
819
3.4
2000
887
2.9
1902
81 1
3.0
1660
685
3.6
1467
71 1
1.5
1277
850.6
1,058.1
1,079.8
1,076.7
1,067.8
1,056.1
1,047.5
1,060.6
1,067.8
1,058.2
1,029.3
5784
343.6
*915
961.2
4803
290.6
783
12390
364
38 1
25.7
254
693
748
1 206.1 1,246 4
3656
M24
3535
405
322
44 9
303
44 9
do....
do
65.1
'136
606
142
5.0
133
do....
do
141.2
'188
124.2
195
561.8
440.9
120.8
5834
467.9
115.6
137.0
mil bbl
do
Liquefied gases (incl. ethane and ethylene):
Production, total
At gas processing plants (L.P.G.)
At refineries (L.R.G.)
Stocks (at plants and refineries)
4814
207.5
34
892
63.3
297
4823
205.8
36
893
59.3
303
4686
2005
28
759
563
309
do....
do....
do....
do....
1
128.0
386
25.2
800
1 192.4 1
974.7
973.1
707
1.8
1088
812
2.3
1145
819
3.0
1246
953.6
925.0
971.6
347
349
28.2
22.9
573
536
1,163.0 1,182.7
349
22.9
59 1
1,189.4
323
19.3
605
1,227.2
r
382
24.0
798
179.1 1
365
25.3
808
174.3 1
402
28.5
783
180.9
367
25.4
682
1,219.8
318
26.0
58 1
1,177.6
280
433
280
428
289
419
293
405
278
372
280
370
347
425
303
44 1
279
418
279
40 1
53
14 1
44
137
4.9
129
50
139
5.1
142
4.3
14 4
4.1
143
4.3
137
45
134
4.6
135
46
134
12.7
254
134
23 1
119
213
10.7
184
9.0
176
7.6
195
6.5
23 1
5.4
243
7.0
26 1
80
27 1
10.5
27 1
124
256
47.3
37.8
9.5
140.6
484
37.8
10.6
148.1
486
39.3
9.3
151.3
498
40.6
9.2
148.7
500
41.0
9.0
146.4
49.9
41.0
8.9
137.0
479
40.3
7.6
122.2
41.3
34.8
6.6
113.5
47.2
39.2
8.0
109.0
470
39.1
7.8
105.8
49.1
40.4
8.7
107.7
47 1
38.3
8.8
110.9
302
55
247
287
12
275
629.8
637.8
983.3
982.0
1,020.8
1,018.5
1 246.9 1 250.0
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 tons
Dissolving and special alpha
do....
Sulfate
do....
Sulfite
do....
Groundwood
do....
Semichemical
do....
Stocks, end of period:
Total, all mills
Pulp mills
Paper and board mills
Nonpaper mills
do....
do....
do....
do
Exports, all grades, total
Dissolving and special alpha
All other
Imports, all grades, total
Dissolving and special alpha
All other
do. ..
do....
do
do....
do
do....
See footnotes at end of tables.
3
81 007
3
79,703
6697
3
3
79
3
6799
6526
5464
6706
6656
5552
6 774
6645
5693
7206
7058
5917
6 258
6459
5600
5972
5658
6045
(2)
13 523
11 042
1063
940
1 190
959
1 109
958
1 135
949
1016
941
966
993
(2)
51 783
1,366
39,597
1,812
5,038
3940
4057
102
3,129
126
387
313
4513
140
3,445
155
444
330
4309
102
3,309
149
427
322
4459
113
3,443
154
423
326
4268
129
3,251
147
407
301
3590
85
2,675
130
420
279
(2)
1,198
690
454
54
1,224
667
497
59
1,287
730
505
52
1,141
602
485
54
1,267
745
462
60
1341
842
443
56
1,198
690
454
54
(2)
2
3678
784
3
2 894
3
4086
201
3
3,885
237
65
172
300
65
236
347
63
284
274
62
212
267
53
214
315
85
230
221
50
172
303
42
261
319
62
257
316
52
264
326
69
257
329
25
304
323
10
313
279
24
255
406
27
379
318
10
308
269
g
262
270
26
244
310
9
301
296
10
286
306
22
284
302
g
294
547
79 604
6045
13 185
831
3
52 055
1,418
38,931
1,911
4,887
3,938
3
3
944
439
449
57
3
3805
769
33037
3
4,051
194
3,858
3
3
H
(2)
(2)
2
2
(2)
(2)
(2)
H
(2)
261
32
229
289
g
283
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through. 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
S-29
1982
1981
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (Bu. of the Census):
AD grades, total, unadjusted
thous. sh.
Paper
Paperboard
Wet-machine board
Construction paper and board
tons..
do....
do
do....
do
65,834
30,164
31 143
138
4390
66,439
30669
31561
160
3846
5,347
2451
2543
12
342
5,653
2603
2705
14
332
5,548
2556
2688
14
290
5,592
2676
2629
14
273
5,252
2500
2497
9
247
4,693
2309
2 177
9
197
(5)
(5)
1967-100..
do....
2346
206.2
258 1
231.7
2594
235.5
2606
2342
2616
234.2
2617
233.3
2616
232 1
2600
2303
2597
2338
2614
231.4
125
119
111
130
122
126
118
134
110
117
117
133
95
90
116
122
112
113
113
89
110
112
95
108
(5)
(5)
(5)
Producer price indexes:
Paperboard
Building paper and board
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
Orders unfilled end of period
Shipments
thous. sh. tons..
do
do....
Coated paper:
Orders new
Orders, unfilled, end of period
Shipments
do
do....
do
M753
391
4673
'4853
360
4940
407
341
387
424
340
422
409
317
434
448
324
439
396
319
399
363
308
389
397
343
404
Uncoated free sheet papers:
Orders, new
Shipments
do....
do
'7,694
X
8326
rl
7,735
rl
639
645
633
675
627
688
677
713
570
655
592
599
'3,930
'4375
rl
3,873
4 503
298
330
318
311
326
269
347
395
372
390
373
350
355
365
406
8625
8,622
165
8946
8,915
194
726
738
211
677
652
236
707
708
235
815
795
255
769
773
252
743
800
194
783
671
304
719
709
326
760
750
336
694
703
327
4,239
4234
21
10,089
4753
4735
38
10,165
405
401
43
426
421
48
400
410
38
420
417
41
412
407
46
359
367
38
415
406
46
378
376
48
420
413
55
396
374
76
791
827
839
922
914
892
790
775
868
863
732
961
952
928
944
959
947
961
981
1,038
1,068
7279
6977
568
502
513
649
624
557
585
524
608
308.1
301.9
309.3
316.8
316.8
316.8
316.8
316.8
318.1
318.1
20,710
20,434
21,094
21,867
18,189
17,600
18,961
18,638
Unbleached kraft packaging and industrial
converting papers:
Shipments
thous. sh. tons..
Tissue paper production
do
Newsprint:
Canada:
Production
thous metric tons
Shipments from mills
do....
Stocks at mills end of period
do
United States:
Production
do....
Shipments from mills
do
Stocks at mills end of period
do....
Consumption by publishers
fl
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..
Paper products:
Shipping containers, corrugated and solid fiber
shipments
mil. sq. ft. surf. area..
Folding paper boxes shipments
thous sh tons.
mil $
1
1
1,475
110
1,498
3
279.3
241,377
rl
l 449
100
l 463
rl
8 234
rl
3
244,429
r
2612
2363
2588
2395
2559
2394
2550
2392
123
98
126
140
104
123
116
102
115
113
r
99
118
130
114
114
411
361
389
407
332
437
r
408
r
r
307
r
381
r
433
r
305
F
388
310
392
628
676
612
658
713
745
r
r
619
r
r
645
r
670
567
587
311
324
343
261 1
239.6
r
r
336
409
641
689
408
669
270
r
290
362
285
362
r
330
743
718
353
652
611
394
617
615
397
385
376
86
383
381
89
363
351
101
808
784
288
r
356
432
r
r
878
r
1,045
1,012
r
503
620
570
460
321.1
324.0
321.0
318.4
21,218
19,941
18,720
20,071
18,610
r
999
2555
2438
992
318.4
(2)
(2)
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
Stocks end of period
thous metric tons
do
586 15
12667
63467
142 43
59831
662 41
Imports incl latex and guayule thous Ig tons
4
4
0.730
Price, wholesale, smoked sheets (N.Y.).... $ per lb..
0.576
Synthetic rubber:
Production
thous metric tons 2 015 24 2 021 45
1 854 01 1 889 71
Consumption
do
34177
34902
Stocks end of period
do
42278
33463
Exports (Bu of Census)
thous Ig tons
TIRES AND TUBES
Pneumatic casings, automotive:
Production
thous 1 159 263 181 762
177 063 201 105
Shipments total
do
40,227
41711
Original equipment
do....
131 271 153 716
5*565
5678
Exports
do
33298
40 863
9,058
11,088
Exports (Bu. of Census)
do....
Inner tubes, automotive:
ExDorts (Bu. of Census)
See footnotes at end of tables.
do....
4.557
3.428
5636
113 53
5107
11122
52 13
11437
5732
12297
4968
130 51
42 5&
142 43
5459
13836
51.64
13802
53.56
13439
54.40
6700
48.69
12626
55.71
11972
41 59
4340
0.540
6276
0.504
6942
5623
0.456
49 13
5099
0.488
5933
4571
0.470
5386
0.453
56 19
0.483
0.453
6339
0.461
16890
15672
33347
24 40
16998
16375
35257
2394
15768
141 13
36438
2249
12551
13188
140 49
14309
14576
13894
155 44
13307
13974
137.02
34902
2165
34036
2776
34043
2346
17032
149.88
356.30
31.18
15486
13463
36944
2627
15972
16499
35340
2197
376.91
2653
375.59
2473
363.58
25.23
14 277
14 902
15 851
16 534
13 750
11 855
17380
3,026
13 901
453
37 116
830
17583
2,813
14 407
363
36709
1,134
17982
3,123
14 503
356
36 088
725
18 179
3,537
14 168
474
36556
13544
2,363
10 820
361
40863
485
14866
14 144
2,478
11365
301
42904
385
15387
13704
2,769
10573
362
46254
461
17312
3,697
13216
399
47817
614
15077
17676
3,679
13652
345
46583
454
14856
18216
3,970
13989
257
45337
463
15669
19,428
4,074
15018
336
43475
653
13992
2,758
10 823
411
41 112
990
653
381
350
337
259
268
208
231
141
151
254
174
102
178
195
0.560
161 50
14469
0.465
17051
3867
0.465
20.40
0.468
S-30
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
Annual
September 1982
1982
1981
Aug.
July
Sept.
Nov.
Oct.
Jan.
Dec.
Feb.
Mar.
Apr.
May
June
July
35,388
34,527
311.4
312.3
312.3
40
453
11029
Aug.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments finished cement
thous bbl
*404 569
X
382 452
38872
37489
37303
36,266
29,590
23,495
15,149
17,755
25,729
28,213
30,984
5 1999
919
4622
4773
70
428
4454
60
426
4406
73
41 1
431.3
106
41 7
3526
61
309
276.7
51
21.9
176.7
32
14.9
213.7
27
13.4
345.1
35
23.3
370.9
26
25.9
398.4
37
29.0
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 sq ft
Price index, brick (common), f.o.b. plant or N.Y.
dock
1967-100
6090 1
1015
7587
45.4
35.3
3.2
2.7
3.0
3.2
2.4
2.6
1.8
1.6
2.5
3.0
2.4
2976
2878
256
252
253
237
215
228
207
207
270
257
310
2808
3002
3028
3028
3032
303.1
3038
303.8
303.8
304.2
304.2
308.4
310.9
868 459
952 283
r
GLASS AND GLASS PRODUCTS
Flat glass mfrs ' shipments
thous $
Glass containers:
Production
thous gross
Shipments, domestic, total $
Narrow-neck containers:
Food
Beverage
Beer
do....
.
..do
do
do
Wide-mouth containers:
Food and dairy products
thous gross
Narrow-neck and wide-mouth containers:
Medicinal and toilet
Chemical household and industrial
Stocks end of period
do....
do
226 926
243 260
24,442
26,095
29,204
26,673
24,731
23,307
27,448
26,259
r
1,968
4488
8,208
1832
2,517
3696
8,559
2097
2,208
4 103
8,462
1541
2,579
5299
9,503
1947
2,488
5 156
9,509
1865
T
2,520
r
5699
r
5,019
5,491
4,906
5,764
4,989
r
2,099
5
153
r
321 373
27751
29412
25943
29305
23849
19,912
323,899
316,813
29,368
27,342
26,478
25,865
23,823
23,600
28075
57848
122 678
24574
28728
60653
113 066
24003
2683
6427
11459
1795
2727
5724
9657
1827
2812
4809
8733
1937
2,297
4596
8487
2 124
1928
4 454
8 175
1893
61212
62404
4904
5247
5616
5955
5214
26,250
3262
25,300
7
2659
1,902
198
1,971
189
2,339
232
2,172
234
5
2,041
5
118
219 074
r
327 972
7
194 972
5
1,947
5
138
6
5
2,238
5
133
5
1,970
5
117
5
2,224
5
132
27,293
27,997
26,774
29,226
2,884
6741
10,255
1981
9,695
1852
4,978
5
r
5,217
l,848
r
!82
1,941
207
5 1,433
49,500
46,966
46,683
48,478
49,633
47,960
50,420
50,278
46,683
46,462
49,124
50,405
51,009
1
12 376
11 848
11434
11359
1054
838
891
986
1030
970
866
924
924
778
862
825
784
872
844
688
820
919
886
971
855
809
949
965
... do.
7365
7593
812
630
642
623
703
500
375
397
405
218
531
772
do
*5544
'4904
411
435
521
452
419
448
308
294
277
327
401
421
... do
409
32
29
31
36
29
26
25
26
30
40
39
38
19
13
21
12
18
9
15
10
16
10
17
9
21
13
16
7
14
6
16
8
1 146
5
27
17
1 127
4
27
19
1 133
4
25
17
982
4
21
15
955
3
21
15
965
4
22
15
876
3
18
15
1087
4
25
18
763
295
11
28
748
291
10
28
752
297
10
28
655
258
9
20
629
258
10
19
633
259
10
23
564
236
9
31
704
286
11
39
do....
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc byproduct)
Calcined
thous sh tons
.. do
Imports crude gypsum
Sales of gypsum products:
Uncalcined
Calcined:
Industrial plasters
Building plasters:
Regular basecoat
All other (incl. Keene's cement)
Board products total
Lath . .
Veneer base
Gypsum sheathing
Regular gypsum board
Type X gypsum board
Predecorated wallboard
5/16 mobile home board
do
do....
217
161
mil sq ft
do....
do
do....
14 131
78
339
190
do....
do
... do .
do
9,923
3266
105
4
229
X
1
370
'225
157
20
13
13 759
59
325
208
1234
5
32
19
'9295
3446
122
304
827
313
11
27
19
12
1 100
3
24
20
971
3
20
20
1 120
4
26
25
716
286
10
41
618
262
9
38
716
299
11
40
r
531
196
335
3
665
3
257
3
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants: *
Production (finished fabric)
Cotton..
Manmade and silk
fiber
mil. linear yd..
do....
.
do
668
256
412
776
333
443
715
364
351
1725
747
318
429
Backlog of finished orders
Cotton
Manmade and silk
do....
do
do....
8,495
4577
4,219
•9018
4711
4,307
770
376
394
789
325
464
745
369
376
44
427
fiber
502
402
440
740
317
423
r
725
r
284
r
r
742
r
312
r
r
729
r
314
r
r
722
r
306
r
692
293
400
664
284
380
642
343
301
601
326
275
r
580
r
249
r
r
575
r
255
r
r
585
r
269
r
r
592
r
264
r
554
254
300
547
204
343
10 157
13502
15570
5539
3
609
3
306
3
740
317
423
540
194
r
346
687
348
339
659
251
408
769
339
430
r3
695
r3
255
r3
780
329
451
519
188
331
do....
do
do
550
196
r
354
3
657
3
255
3
8 176
3212
5 163
Inventories held at end of period
Cotton
...
Manmade and silk
fiber
495
172
323
r
r
828
236
391
794
334
459
8,420
3,531
4990
r
441
330
430
320
414
317
416
328
408
COTTON
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.
2
10
2
826
11,122
2
15
2
150
15 646
6,135
5,409
385
429
9261
9,260
2,502
5,927
831
13777
13,776
3,752
9268
756
2595
2,594
25
1687
882
16970
16,969
14,669
1491
809
3
517
448
403
MOO
378
391
16327
16,326
13,692
1940
694
15628
15,627
10,906
4059
662
14907
14,907
7,170
7064
673
13,777
13,776
3,752
9,268
756
12,567
12,566
2,257
9,488
821
11,424
11,422
1,810
8,729
883
3
493
410
392
10060
10,058
1,221
7921
916
8976
8,974
953
7 113
909
8 117
8,116
924
6292
900
r3
460
322
7 170
7,169
728
5542
899
6 149
6147
350
4965
832
S-31
SURVEY OF CURRENT BUSINESS
September 1982
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
July
Annual
1982
1981
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
July
Aug.
TEXTILE PRODUCTS—Continued
COTTON AND MANUFACTURES—Cont.
Cotton (excluding linters) —Continued
Exports
thous. running bales..
Imports
thous net-weight bales §
Price (farm), American upland H
cents per lb..
Price, Strict Low Middling, Grade 41, staple 34
(1-1/16"), average 10 markets
cents per lb..
Spindle activity (cotton system spindles):
Active spindles last working day total
Consuming 100 percent cotton
Spindle hours operated, all fibers, total
Average per working day
Consuming 100 percent cotton
1
7975
16
74.4
8,021
17
54.5
3
3
o
478
754
62.3
60.1
737
1
51.2
653
65.0
261
2
58.0
262
70.4
49.9
48.4
50.1
676
4
53.5
484
13
54.2
498
4
54.9
83.0
75.1
66.5
60.8
60.6
57.5
55.1
57.8
57.3
59.7
62.3
62.4
61.1
159
60
102.4
0388
42.0
154
55
91.8
0357
33.6
156
57
6.8
0339
2.4
156
56
7.3
0363
2.5
155
55
4
8.9
0358
4
3.1
15 4
54
7.4
0371
2.6
153
55
7.0
0349
2.5
15 4
55
4
6.9
0278
4
2.5
15 4
55
6.5
0327
2.3
153
55
6.8
0339
2.4
15 3
55
4
8.3
0414
4
3.0
152
55
6.7
0337
2.5
153
56
6.6
0331
2.5
4,456
3856
18.4
14.6
14.4
12.7
12.8
14.6
14.5
12.3
206
45.4
71.5
mil
do
bil..
do
do....
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. sq. yd..
Orders, unfilled, end of period, compared with
avg. weekly production
no. weeks' prod..
Inventories, end of period, compared with
avg weekly production ... .no. weeks' prod..
Ratio of stocks to unfilled orders (at cotton
mills) end of period
Exports, raw cotton equiv. thous.
net-weight §
bales
Imports, raw cotton equivalent
do....
5
14.1
15.8
S
264
o
990
(«)
o
942
o
o
873
(6)
987
"60.4
65.0
60.4
56
55
2.9
2.0
243
54.1
248
47.8
227
41.4
r4
961
4.2
5.6
60
55
56
58
64
67
65
69
029
040
033
037
039
046
050
046
045
056
5402
567.0
3456
766.3
21 7
58.0
259
62.3
258
62.9
275
71.8
266
66.7
219
58.9
182
66.5
186
55.1
mil. lb..
do
308.5
4433
257.0
4606
65.8
1185
54.8
1117
52.9
954
do....
do ..
do
3,725.3
4 148.2
8673
3,792.8
4,191.1
1041 1
971.3
1 051.3
2806
834.2
940.8
2632
785.4
864.6
2069
184
272
143
31 1
126
273
143
31 1
135
382
289.3
2870
104.1
337.0
3278
146.2
334.4
3366
1210
337.0
3298
1462
330.7
3403
151.8
10 774 1
39806
11 448 7
39114
5039
5350
6 431 4
584 1
4,517.0
10022
28909
9790
1278
1375
1 611 3
1420
1 121.5
2652
27649
9009
1203
1257
1 596 3
920
1,182.6
2394
5
r
396
1
57.6
r
204
47.4
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Filament yarn (acetate)
Staple incl tow (rayon)
..
Noncellulosic, except textile glass:
Yarn and monofilaments
Staple incl tow
Textile glass fiber
Fiber stocks, producers', end of period:
Filament yarn (acetate)
Staple incl tow (rayon)
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
Staple incl tow
Textile glass fiber
mil lb
do
do....
do
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
Chiefly nylon fabrics
do
Spun yard (100%) fab exc blanketing # do
Rayon and/or acetate fabrics blends . do
Polyester blends with cotton
do....
Filament and spun yarn fabrics
do
Manmade fiber gray goods, owned by weaving
mills:
Ratio stocks to unfilled orders end of period
Prices, manufacturer to mfr., f.o.b. mill:
50/50 polyester/carded cotton printcloth, gray,
48" 3 90 yds /lb 78x54-56
$ per yd
5 899 6
4302
4,342.9
7638
0510
Manmade fiber manufactures:
Exports manmade fiber equivalent
mil Ibs
Yarn tops thread cloth
do
Cloth woven
do
Manufactured prods apparel furnishings do
77154
418 64
24977
35291
63773
31889
20848
31884
4759
24 03
1584
2356
4970
24 24
1575
2547
4877
22 74
1384
2602
5098
24 60
1597
2638
4695
23 16
1551
23.79
3808
1900
1274
1909
34.90
1620
972
18.70
38.35
17 13
10 13
21.22
39.72
18 10
11 48
21.61
35.96
1567
10.59
20.29
42.01
1842
12 11
23.59
44.21
2065
1336
23.56
33.93
16 12
1066
17.80
do
do
do
do....
do
do....
54064
9748
6728
2
443.15
37852
187.74
63908
13052
9538
508.56
43487
184.70
6666
1243
9.25
54.23
4844
21.52
6932
1205
898
57.27
4985
21.90
5677
1005
6724
1233
8.46
54.92
4743
22.75
49.12
1056
8.02
38.56
3196
12.63
3951
771
5.83
31.80
2597
8.64
53.18
10.88
7.74
42.30
36.48
12.46
48.07
873
6.58
39.34
33.95
11.22
47.74
933
6.82
38.41
32.29
10.55
40.14
9.58
6.79
30.56
25.39
8.56
67.85
12.27
8.74
55.58
40.45
15.32
91.93
1248
9.14
79.46
53.04
21.76
77.34
9.50
6.68
67.83
43.58
17.80
mil lb
do....
1134
10.0
56 5
260
1278
10.9
75 3
26 1
84
0.8
65
28
10 1
1.0
53
25
114
4
1.1
37
16
94
1.1
60
18
94
0.7
51
20
112
4
1.0
53
20
9.4
0.7
80
21
9.6
0.9
63
1.6
5
2.45
5
5
2.78
5
2.83
3.23
2.83
3.20
2.83
3.16
2.83
3.16
2.83
3.17
2.83
3.12
2.75
3.01
2.63
3.03
Imports manmade fiber equivalent
....
Yarn tops thread cloth
Cloth woven
.
.
Manufactured prods., apparel, furnishings
Apparel total
Knit apparel
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
Carpet class
Duty-free (carpet class)
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:
3.09
3.16
111
46.72
4084
17.30
4
4
4o
193 3
37 4
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
r
l 058 4
r
9906
r
r
2525
2176
APPAREL
Women's, misses', juniors' apparel cuttings:
Coats
thous units
^ '<• (' 1
Skirts
Rlrmses
<•
't
't }
See footnotes at end of tables.
23664
790 1
1100
1102
13387
305
1,008.3
2092
(\
do
thous. dozen..
16808
179 401
18 162
70 152
26.704
14845
136*176
13 605
91025
30.322
1515
1374
1633
10 218 11 439 11 238
1 152 1 218 1 196
6827
7342
6907
2.449
2.617
3.077
1419
9 961
1026
7035
2.641
849
8 152
939
6461
2.178
639
8 015
'813
5192
2.097
4
12.8
4
1.0
66
18
9.0
0.7
49
2.0
2.44
3.13
2.40
3.23
r
8.2
0.9
60
2.0
4
9.5
4
0.8
66
2.6
40
1.7
2.40
3.36
2.40
3.21
2.40
3.04
2.40
2.94
S-32
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes below, data
through 1978 and descriptive notes are as shown
in the 1979 edition of BUSINESS STATISTICS
1980
1981
1982
1981
July
Annual
September 1982
Sept.
Aug.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
21,634
23,902
23,898
22,248
23,888
r
9565
r
7399
4059
434
510
468
774
584
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..
14074
16906
124 Oil
253 640
40988
286.379
14686
14,686
175,445
38 112
304.826
911
1,186
7857
13,663
2663
30.233
1252
1,448
11930
12443
3 107
26.850
1294
1,801
1367
1,682
1227
1,433
1 139
1,312
17,894
3 198
26,448
13360
3 107
27,141
10,052
2864
24,125
10,178
2441
19,796
25.065
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders new (net) qtrly total @
..
U.S. Government
Prime contract
Sales (net), receipts, or billings, qtrly, total
U S Government
mil $
do....
do
do....
do
70409
33,497
68407
58,440
26674
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. Ib
Exports, commercial $$
mil. $..
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants), total
thous..
Domestic
....
..
..
..
..
do
90517
37200
47 186
11595
thous..
do
do....
do....
do....
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. tonsAverage per car
tons..
See footnotes at end of tables.
9,382
8,284
9,382
9,557
14197
12 117
14197
15706
r
7362
r
4,870
413
r
7374
r
4989
608
r
lr 287 8
8 102
804
r
781 4
r
5067
538
10177
1 592 4
r
7025 r9871
476
952
6,400
5840
8,979
6,581
2398
6,225
5749
513
472
345
313
522
487
520
486
425
394
370
344
8,535
6,209
2326
707
497
209
8.2
59
2.3
801
602
199
10.0
78
2.2
687
519
168
8.8
67
2.1
649
492
157
7.4
53
2.1
585
432
152
7.7
54
2.3
523
358
165
7.2
49
2.3
1520
1440
1471
1495
1675
1630
1427
1500
1481
1528
1486
1 614
2.9
538.12
470 86
3,000.8
562.3
3.3
49.85
4596
250.1
41.0
31.79
2900
259.2
33.8
2.7
37.99
3408
173.7
43.7
3.5
35.22
2841
236.0
48.8
8,444
2432
690
207
721
206
763
209
1,700
1513
127
111
87
75
1,746.6
5
73.9
5
151.7
141.9
63
12.0
5
574.0
190.32
5
559.4
170.50
1,133.28
826.77
2477
2,185
136,702
86248
11,849
14,202
117,635
70928
7,239
8,615
*85 920
*80,357
*43 955
MO 140
52,370
47,866
M4 901
'41,435
17916
1
17 288
16,485
14,819
2.6
607.80
509 13
3,310.7
594.8
8,761
2469
3
C
1,667
1464
5
1,963.5
5
92.3
5
175.7
4
21,151
12,276
20484
16,774
8920
98711
48,698
46467
13,534
8572
3
thous..
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 t
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....
20255
12,674
19612
18,693
9226
94334
45,342
44555
13,173
13276
8,144
12950
16,636
8 126
92772
41,894
47274
12,915
10330
13 043 1 13r 195 0
97068
89,076
8,551
8,250
Retail sales, total, not seasonally adj t
do....
Domestics §
do....
Imports §
....
...
do
Total, seas, adjusted at annual rate t
mil..
Domestics §
.
do
Imports §
do....
Retail inventories, end of period, domestics: t
Not seasonally adjusted
thous
Seasonally adjusted §
do
Inventory-retail sales ratio, domestics § t
Exports (BuCensus), assembled cars
To Canada
Imports (BuCensus), complete units ##
From Canada, total
Registrations j[, total new vehicles
Imports, incl. domestically sponsored ...
Trucks and buses:
Factory sales (from U.S. plants), total
Domestic
72682
40,833
70743
68,865
32691
94334
45,342
44555
13,173
1 168
8.8
92.56
79.24
5
1 111
6.9
89.37
80.43
1490
1 494
1471
1495
1 1220
5857
504
7742
3993
369
809
8060
4270
412
273
256
535
368
320
302
632
457
469
431
111
576
488
441
669
499
7083
4 187
166
7.9
54
2.5
1432
1383
3.7
3.1
29.18
2237
233.7
45.7
17.27
1342
259.9
37.1
654
182
3.3
29.73
2495
237.3
58.9
614
169
612
184
130
115
165
152
123
112
164.1
61
12.8
150.3
59
13.3
127.2
49
11.4
576.5
12.38
523.9
11.19
516.2
11.16
64.05
6749
190
194
8,922
4,826
459
527
9,779
6061
340
679
2.5
3 184
2983
2,971
2,864
1 315
798
798
1315
26,267 23,648
23,809 21403
1 130
77
90.32
79.92
1 124
76
89.92
80.00
175
8.4
62
2.2
1325
1 241
201
7.7
56
2.0
170
7.3
54
1.8
1 247
1 171
1256
1 187
5045
453
r
561
523
1364
1 247
6
6
31
38.66
35 72
275.5
833
717
206
630
430
200
74
51
22
609
409
200
76
54
22
1377
1 378
1379
1 486
r
40.21
3603
285.7
70.4
2.6
49.59
45 72
249.2
73.2
2.2
45.70
42 55
309.5
712
509
159
626
176
672
186
708
189
127
115
116
108
144
133
197
184
183
169
193
180
130.8
43
11.2
114.2
53
13.6
173.4
r
182.0
r
1960
r
1656
r
1985
r
14.6
12.2
12.6
13.2
12.4
47
154
1
r
42
11.7
1563
r
41
9.8
548.2
11.95
547.5
10.77
575.5
8.97
517.0
8.22
492.4
11.46
473.9
12.68
510.6
12.37
521.5
12.89
566.0
13.81
622.5
9 17
6453
7855
6997
7229
7480
57 15
8200
7368
7163
7327
51 73
196
171
169
180
156
171
208
219
226
226
197
10,540
6854
387
530
11,060
7378
542
510
9,408
6 109
404
817
9,628
5611
336
561
7,476
4327
252
449
8,418
4928
9,903
6355
429
817
8,453
5300
440
846
8,023
5240
504
790
9,211
6 190
376
598
1 794
1,694
1 339
1,244
586
586
8,500
7 820
1 369
1,369
179
179
7,187
6 507
1 083
80
87.71
81.02
1 077
81
87.47
81.19
3 529
2 900
2 063
1,839
2,656
3,299
1 743 1 013
860
860
1743
638
21,852 18,831 17,724
19837 16685 15802
1 122
72
89.83
80.08
1 119
' 72
90.00
80.41
1 116
70
89.64
80.30
39
34
203
564
33
38
2 711
1 995 1 762 2 247
2 443
2,455
1,526
1,833
2,032
2,265
1 811
815
753
539
1 485
815
753
539
1 811
1 485
16,485 14,735 13,486 12,599 10,560
14819 13231 12218 11546
9685
1 111
69
89.37
80.43
1 110
70
89.32
80.48
1 105
74
89.02
80.58
1 100
76
88.76
80.71
487
487
9,253
8 478
1 095 1C090
76
' 77
88.19
88.48
80.84
80.92
r
212
197
364
453
2.4
23.87
1946
195.9
58.0
546
164
2.5
2
2
651
452
199
6
7.0
6
48
6
22
190
8.2
62
20
1213
1 146
445
33
32
34.29
32 27
261.9
44 1
626
203
2
2
143
163
141
8
7
34
7
10.4
7
691.7
SURVEY OF CURRENT BUSINESS
September 1982
S-33
FOOTNOTES FOR PAGES S-l THROUGH S-32
General Notes for all Pages:
r
p
e
c
Revised,
Preliminary,
Estimated,
Corrected.
Page S-l
PageS-8
t Revised series. See Tables 2.6 - 2.9 in the July 1982 SURVEY for revised estimates back to
1977. Pre-1977 estimates are available in The National Income and Product Accounts of the
United States, 1929-76: Statistical Tables.
t Includes inventory valuation and capital consumption adjustments.
* New series. Detailed descriptions begin on p. 18 of the Nov. 1979 SURVEY. See note"f"
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.
1. Advance Estimate.
H Home mortgage rates (conventional first mortgages) are under money and interest rates
on p. S-14.
§ Data include guaranteed direct loans sold.
$ Effective April 1982 SURVEY, wholesale trade data have been revised for Jan. 1972-Dec.
1981. Revised data are available upon request.
t Effective April 1982 SURVEY, retail trade data have been revised for the years 1972-1981.
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.
PageS-2
1. Based on data not seasonally adjusted.
# Includes data not shown separately.
j Revised series. For wholesale see note "$" for p. S-8. For manufacturing see note "t"
for p. S-3. For retail see note "t" for p. S-8.
t See note "t" for p. S-3.
§ See note "t" for p. S-8.
@ See note "ij:" for p. S-8.
* New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
Page S-3
$ Revised series. For wholesale see note "t" for p. S-8. For manufacturing see note "t"
for this page. For retail see note "t" for p. S-8.
t Revised series. Data have been revised back to 1972. A detailed description of these
revisions and historical data appear in the reports "Manufacturers' Shipments, Inventories,
and Orders" M3-1.10 (1972-1980) and M 3 - l . l l (1977-81), available from the Bureau of
the Census, Washington, D.C. 20233.
§ See note "t" for p. S-8.
@ See note "$" for p. S-8.
* New series. Data back to 1967 are available from the National Income and Wealth
Division, Bureau of Economic Analysis.
# Includes data for items not shown separately.
PageS-4
1. Based on data not seasonally adjusted,
t See note "t" for p. S-3.
# 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,
pejtroleum and coal, chemicals and allied products, and rubber and plastics products) sales
are considered equal to new orders.
Page S-5
1. Based on unadjusted data.
t See note "t" for p. S-3.
@ Compiled by Dun & Bradstreet, Inc.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
H Revisions, back to 1975 for some commodities, are available upon request.
$ See note "$" for p. S-4.
Page S-9
1. Advance estimate.
2. Effective Jan. 1979 data, sales of mail-order houses are included with department store
sales.
3. As of July 1.
# Includes data for items not shown separately.
t Revisions for Jan. 1977-Oct. 1979 appear in "Current Population Reports," Series P-25,
No. 870, Bureau of the Census.
H Effective with the February 1982 SURVEY, the labor force series have been revised back
to 1970 to reflect the 1980 Census of Population. Seasonal adjustment factors were revised
accordingly. Revised monthly series appear in the February 1982 issue of Employment and
Earnings. Revised annual series will appear in the March 1982 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.
t See note "t" for p. S-8.
PageS-10
t Effective June 1982 SURVEY, data have been revised back to 1977 based on March 1981
benchmark levels and updated seasonal adjustment factors. See "BLS Establishment Estimates
Revised to March 1981 Benchmarks," in the June 1982 issue of Employment and Earnings.
Effective July 1981 SURVEY, data have been revised back to 1974 to reflect new benchmarks
and new seasonal adjustment factors. See "BLS Establishment Estimates Revised to March
1980 Benchmarks," in the July 1981 issue of Employment and Earnings.
II See note "II" for p. S-9.
Page S-l 1
t See note "t" on p. S-l0.
$ 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.
H Production and nonsupervisory workers.
PageS-12
1. This series has been discontinued.
t See corresponding note on p. S-10.
M Production and nonsupervisory workers.
$ Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§ Wages as of Sept. 1, 1982: Common, $14.64; Skilled, $18.99.
Page S-6
Page S-13
§ For actual producer prices of individual commodities see respective commodities in the
Industry section beginning p. S-l 9. 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 Feb. 1982, data have been revised back to 1977 to reflect new seasonal factors.
1. Average for Dec.
H Effective April 1982 SURVEY, the series for work stoppages involving six or more workers
have been discontinued and have been replaced by series for work stoppages involving 1,000
or more workers.
# 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).
* New series. Beginning Dec. 1978, data are for all investment account securities; comparable data for earlier periods are not available.
@ 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.
(gj® Insured unemployment as a percent of average covered employment in a 12-month
period.
Page S-7
1. Computed from cumulative valuation total.
2. Index as.of Sept. 1, 1982: building, 332.9; construction, 361.0.
# Includes data for items not shown separately.
§ Data for July and Oct. 1981, Jan., Apr., and July 1982 are for five weeks; other months
four weeks.
SURVEY OF CURRENT BUSINESS
S-34
PageS-14
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
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. See also note 3 for this page.
5. Beginning Oct. 1981, data represent the total surplus or deficit (budget surplus or deficit plus
off-budget surplus or deficit).
6. Interest rate charged as of Sept. 1, 1982 was 13.21.
# 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.
11 Adjusted to exclude domestic commercial interbank loans and Federal funds sold to
domestic commercial banks.
$ 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.
$t Courtesy of Metals Week.
PageS-15
1. M l-A has been discontinued. M1 -B will now be designated "M1."
t Effective Feb. 1982 SURVEY, the money stock measures and components have been revised
back to 1959. 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 date 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.—This measure is currency plus demand deposits at commercial banks and 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.
M2.—This measure adds to Ml 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.
H 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.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
PageS-16
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.
Page S-17
1. See note 1 for p. S-16.
2. Beginning Jan. 1982 data, the Customs value is being substituted for the f.a.s. value.
# 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.
PageS-18
1. See note 1 for p. S-16.
2. Annual total; quarterly or monthly revisions are not available.
September 1982
3. Before extraordinary and prior period items.
4. For month shown.
5. Domestic trunk operations only (averaging about 90 percent of domestic total).
6. See note 2 for p. S-17.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled
service.
t Beginning Jan. 1977, defined as those having operating revenues of $50 million or more.
H Average daily rent per room occupied, not scheduled rates.
@ Effective January 1, 1980, contract carriers are not included because the data filed by
these carriers were substantially reduced in scope, in accordance with the ICC revised reporting
regulations.
PageS-19
1. Reported annual total; monthly revisions are not available.
2. Data withheld to avoid disclosing operations of individual companies.
3. Beginning Jan. 1981, data represent gross weight (formerly phosphoric acid content
weight) and are not comparable with data shown for earlier periods.
4. A portion of data is being withheld to avoid disclosing information for individual
companies; not comparable with other published data.
5. Beginning Jan. 1980 data, another company is included.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
$ Revisions, back to 1977 for some commodities, are available upon request.
11 Data for Jan. 1977-June 1979 exclude potassium magnesium sulfate; not strictly comparable with data shown for other periods.
Page S-20
1. Reported annual total; monthly revisions are not available.
2. Annual total includes Hawaii; not distributed to the months.
3. Beginning 1982, the reporting frequency has been changed from a monthly to a quarterly
basis. Revised quarterly data for 1979 through 1981 are available upon request.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
$ Revisions back to 1977 are available upon request.
PageS-21
1. Average for three months, price not available for Apr.-Dec.
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. See note "@@" for this page.
7. Data are no longer available.
8. See note 4 for p. S-22.
9. August 1 estimate of the 1982 crop.
10. September 1 estimate of the 1982 crop.
§ Excludes pearl barley.
# Bags of 100 Ibs.
11 Revised crop estimates back to 1975 are available upon request.
© Revisions, back to 1977, for some commodities, are available upon request.
t Revisions back to 1975 are available upon request.
@@ Data are quarterly except for June (covering Apr. and May) and Sept. (covering
June-Sept.).
PageS-22
1. Average for 11 months; price not available for Dec.
2. Average for nine months; index not available for Apr.-June.
3. Data are no longer available.
4. Effective with this reporting, data are for three-month intervals.
§ Cases of 30 dozen.
H Bags of 132.276 Ibs.
t Revisions for Jan.-July 1979 (back to 1975 for grindings of wheat) are available upon
request.
@ Revisions back to 1977 are available upon request.
# Effective Apr. 1981 SURVEY, the wholesale price of smoked hams has been discontinued
and has been replaced with the comparable price index. Annual indexes prior to 1979 and
monthly indexes prior to Feb. 1980 are available upon request.
PageS-23
1. Crop estimate for the year.
2. Average for seven months; price not available for July, Aug., and Oct.-Dec.
3. Annual total; monthly revisions are not available.
4. Data are no longer available.
5. August 1 estimate of the 1982 crop.
6. September 1 estimate of the 1982 crop.
§ Monthly data reflect cumulative revisions for prior periods.
$ Revisions back to 1975 are available upon request.
* New series. Source: Bureau of Labor Statistics.
# Totals include data for items not shown separately.
September 1982
SURVEY OF CURRENT BUSINESS
Page S-24
1. Annual data; monthly revisions not available.
2. Less than 500 short tons.
Page S-25
1. Annual data; monthly revisions are not available.
2. For month shown.
3. Effective Jan. 1981, data are revised back to Jan. 1980. Inventory data formerly calculated by the Bureau of the Census are now based on the Steel Service Center Institute monthly
Business Conditions report.
Page S-26
1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
U 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.
t Effective July 1980 SURVEY, data are revised and shown on a new base. The sample size
has been restored to 100 firms and the base has been changed to 1977= 100. The revised series
are not comparable to previously published data.
* 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.
PageS-27
1. 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.
2. Data are for five weeks; other months 4 weeks.
3. Based on new 1981 stock level. See also note "$" for this page.
4. For month shown.
# Includes data for items not shown separately.
@ Beginning July 1977, data are representive of those manufacturers reporting and are
not an average of the total industry; they are not directly comparable with earlier data.
* New series. Annual data prior to 1978 and monthly data prior to April 1979 are available upon request.
§ Includes nonmarketable catalyst coke.
K Includes small amounts of "other hydrocarbons and hydrogen refinery input," not shown
separately.
t Revisions for 1978 are available upon request.
$ Effective with 1981 petroleum data, the Energy Information Agency has changed some
definitions and concepts to reflect recent developments in refining and blending practices.
These changes include adding a category for gasohol production to motor gasoline production and accounting more precisely for distillate and residual fuel oil processed further after
initial distillation. A description of these changes appears in the May 1981 issue of Monthly
Energy Review, U.S. Department of Energy, Energy Information Administration.
PageS-28
1. Based on new 1981 stock level. See also note "$" for p. S-27.
2. See note 5 for p. S-29.
3. Reported annual totals; revisions not allocated to the months.
4. Simple averages of prices are no longer available.
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 "11" for this page.
$ Except for price data, see note "$" for p. S-27.
PageS-29
1.
2.
3.
4.
Reported annual total; revisions not distributed to the months.
Effective Jan. 1980, data are no longer available.
Average for 11 months; no price for Aug. 1980 or June 1981.
Average for 11 months; no price available for Nov. 1980 or for Oct. 1981.
S-35
5. Monthly data will be discontinued as of April 1982 SURVEY, due to budgetary limitations. The related annual report, MA26A, will continue to be published.
II Source: American Paper Institute. Total U.S. estimated consumption by all newspaper
users.
§ 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.
Page S-30
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. Data are not available prior to Jan. 1980.
5. Shipments of wide-mouth containers for "chemical, household and industrial" are included
in shipments for "medicinal and toilet" containers.
6. See note "$" for this page.
7. For the period November and December 1981, shipments of wide-mouth containers for
"chemical, household and industrial" are included in shipments for "medicinal and toilet"
containers.
# New series. Data for finishing mills have replaced data for weaving mills, which are no
longer available.
# Includes data for items not shown separately.
H Cumulative ginnings to the end of month indicated.
§ Bales of 480 Ibs.
i Beginning Jan. 1982, shipments include those for direct export; such shipments for 1980-81
were (thous. gross): 2,316 and 2,165 respectively.
PageS-31
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. Less than 500 bales.
§ Bales of 480 Ibs.
H 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.
PageS-32
1. Annual total includes revisions not distributed to the months.
2. Estimates of production, not factory sales.
3. Beginning Jan. 1979, data reflect the inclusion of Volkswagens produced in the U. S.
Beginning Jan. 1980, passenger vans (previously reported as passenger cars) are included
with trucks.
4. Monthly data for 1980 as published in earlier issues of the SURVEY, exclude exports for
off-highway trucks; not strictly comparable with data shown for other periods.
5. Based on unadjusted data.
6. See note "t" for this page.
7. Effective with the September 1982 SURVEY, retail sales of trucks have been restated back
to Jan. 1982 to include U.S.-built Mercedes-Benz trucks (19,501 - 33,000 Ibs.); comparable
stock data, prior to Aug. 1982, are not available.
# 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.
II 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 Revisions, back to 1967 for some commodities, are available upon request. Effective
with the July 1982 SURVEY, seasonally adjusted data for passenger cars have been revised
back to Jan. 1977 and are available upon request.
@ In the 1979 BUSINESS STATISTICS, 4th Qtr. 1977 should read "13,946" mil. $.
t$ In the 1979 BUSINESS STATISTICS, annual data for 1977 should read "2,604.8"
mil. $.
## Revisions back to 1977 are available upon request.
I
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A new publication by the Bureau of Economic Analysis provides historical estimates
on U.S. direct investment abroad for the years 1950-76. The publication, Selected
Data on U.S. Direct Investment Abroad, 1950-76, provides estimates for selected
countries crossclassified by summary industries. Two hundred tables contain estimates for U.S. direct investment position abroad; equity and intercompany account
outflows; reinvested earnings of incorporated affiliates; interest, dividends, and earnings
of unincorporated affiliates; income; earnings; fees and royalties; and royalties and
license fees. For all of the items, other tables show estimates for 1966-76 for every
country in which there is investment; these detailed country estimates are not
crossclassified by industry.
To order, send a check or money order for $7.00 (per copy) to: Superintendent of
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INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S36
SECTIONS
General:
Business indicators
Commodity prices
Construction and real estate.
Domestic trade
Labor force, employment, and earnings
Finance
Foreign trade of the United States
Transportation and communication
1-5
5,6
7,8
8,9
9-13
13-16
16-18
18,19
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
Lumber and products
Metals and manufactures
Petroleum, coal, and products
Pulp, paper, and paper products
Rubber and rubber products
Stone, clay, and glass products.
Textile products
Transportation equipment
19, 20
20
20-23
23
23, 24
24-27
27, 28
28, 29
29
30
30-32
32
Footnotes
33-35
INDIVIDUAL SERIES
Advertising
8, 12
Aerospace vehicles
32
Agricultural loans
13
Air carrier operations
18
Air conditioners (room)
27
Aircraft and parts
4, 32
Alcohol, denatured and ethyl
19
Alcoholic beverages
8, 20
Aluminum
25
Apparel
2, 4-6, 8-12
Asphalt
28
Automobiles, etc
2-4, 6, 8, 9, 14, 15, 17, 32
Banking
13, 14
Barley
21
Battery shipments
27
Beef and veal
22
Beverages
8,17, 20
Blast furnaces, steel mills
3-5
Bonds, issued, prices, sales, yields
3-5
Brass and bronze
15-16
Brick
26
Building and construction materials
30
Building costs
2, 4, 5
Building permits
7
Business incorporations (new), failures
7
Business sales and inventories
5
Butter
2, 3
Cattle and calves
22
Cement
30
Chain-store sales, firms with 11 or more
stores
9
Cheese
21
Chemicals
2-4, 10-12,15, 17,19, 20
Cigarettes and cigars
23
Clay products
2-4, 30
Clothing. See apparel
Coal
2, 27
Cocoa
22
Coffee
22
Coke
27
Combustion, atmosphere, heating equipment
26
Communication
15, 19
Confectionery, sales
22
Construction:
Contracts
7
Costs
7
Employment, unemployment, hours,
earnings
10-12
Highways and streets
7
Housing starts
7
New construction put in place
7
Consumer credit
14
Consumer goods output, index
1, 2
Consumer Price Index
5, 6
Copper and copper products
25, 26
Corn
21
Cost of living (see Consumer Price Index)
5, 6
Cotton, raw and manufactures
5, 30, 31
Credit, commercial bank, consumer
14
Crops
5, 21, 23, 30
Crude oil
3, 27
Currency in circulation
15
Dairy products
5, 21
Debt, U.S. Government
14
Deflator, PCE
1
Department stores, sales, inventories
9
Deposits, bank
13, 15
3f
Dishwashers
Disposition of personal income
Distilled spirits
Dividend payments
Drugstores, sales
Earnings, weekly and hourly
Eating and drinking places
Eggs and poultry
Electric power
Electrical machinery and equipment
27
1
20
1,15
8,9
12
8,9
5,22
2,20
2-5,
10-12, 15,27
11
Employee-hours, aggregate, and indexes
10,11
Employment
20
Explosives
16,17
Exports (see also individual commodities)
Failures, industrial and commercial
5
5,6
Farm prices
12
Farm wages
Fats and oils
17
14
Federal Government finance
13
Federal Reserve banks, large commercial
Federal Reserve member banks
13
19
Fertilizers
Fish
22
24
Flooring, hardwood
Flour, wheat.
22
Food products
2-6, 8,10-12,15,17, 20-23
Foeign trade (see also individual commod.)
16-18
Freight cars (equipment)
32
Fruits and vegetables
5
Fuel oil
5, 28
Fuels
2, 6,17, 27, 28
Furnaces
27
Furniture
2, 6, 8-12
Gas, output, prices, sales, revenues
2, 6, 20
Gasoline
28
Glass and products
30
Glycerin
19
Gold
14, 15
Grains and products
5, 6, 21, 22
Grocery stores
9
Gypsum and products
30
Hardware stores
8
Heating equipment
26
Help-wanted advertising index
12
Hides and skins
6
Highways and streets
7
Hogs
22
Home Loan banks, outstanding advances
8
Home mortgages
8
Hotels and motor-hotels
18
Hours, average weekly
11
Housefurnishings
2, 4, 5, 8, 9
Household appliances, radios, and televi sion
sets
27
Housing starts and permits
7
Imports (see also individual commodities)
17,18
Income, personal
2
Income and employment tax receipts
14
Industrial production indexes:
By industry
1, 2
By market grouping
1, 2
Installment credit
14
Instruments and related products
2-4, 10-12
Interest and money rates
14
Inventories, manufacturers' and trade
3, 4, 9
Inventory-sales ratios
3
Iron and steel
2, 15, 24, 25
Labor advertising index
14
Labor force
9, 10
Lamb and mutton
22
Lead
26
Leather and products
2, 6, 10-12, 23
Livestock
5, 22
Loans, real estate, agricultural, bank (see
also Consumer credit)
8, 13
Lubricants
28
Lumber and products
2, 6, 10-12, 23, 24
Machine tools
26
Machinery
2-6, 10-12, 15, 17, 26, 27
Manufacturers'
sales
(or
shipments),
inventories, orders
3-5
Manufacturing
employment,
unemployment,
production
workers,
hours,
earnings
10—12
Manufacturing production indexes
1, 2
Meat animals and meats
5, 22
Medical care
6
Metals
2-6, 10-12, 15, 24-26
Milk
21
Mining and minerals
2, 6, 10-12, 15
Monetary statistics
15
Money and interest rates
14
Money supply
15
Mortgage applications, loans, rates
8, 13, 14
Motor carriers
18
Motor vehicles
2-4, 6, 8, 9, 15, 17, 32
National parks, visits
18
Newsprint
29
New York Stock Exchange, selected data
16
Nonferrous metals
2, 4, 5, 15, 25, 26
Oats
21
Oils and fats
17
Orders, new and unfilled, manufacturers*
4, 5
Outlays, U.S. Government
14
Paint and paint materials
20
Paper and products and pulp
2-4,
6, 10-12, 15, 28, 29
Parity ratio
5
Passenger cars
2-4, 6, 8, 9, 15, 17, 32
Passports issued
18
Personal consumption expenditures
1
Personal income
1
Personal outlays
1
Petroleum and products
2-4,
10-12, 15, 17, 27, 28
Pig iron
24
Plastics and resin materials
20
Population
9
Pork
22
Poultry and eggs
5, 22
Price deflator, implicit (PCE)
1
Prices (see also individual commodities)
5, 6
Printing and publishing
2, 10-12
Private sector employment, hours, earnings
10-12
Producer Price Indexes
6
Profits, corporate
15
Public utilities
1, 2, 7, 15, 16, 20
Pulp and pulpwood
28
Purchasing power of the dollar
6
Radio and television
8, 27
Railroads
13, 16, 18, 32
Ranges
27
Rayon and acetate
31
Real estate
8,13
Receipts, U.S. Government
14
Refrigerators
27
Registrations (new vehicles)
32
Rent (housing)
6
Retail trade
2, 3, 5, 8-12, 14, 32
Rice
21
Rubber and products (incl. plastics)
2-4,
6, 10-12, 29
Saving, personal
1
Savings and loan assoc., new mortgage loans .
8
Savings deposits
13
Securities issued
15
Security markets
15, 16
Services
6, 10-12
Sheep and lambs
22
Shoes and other footwear
23
Silver
14
Spindle activity, cotton
31
Steel (raw) and steel manufactures
25
Steel scrap
24
Stock market customer
financing
15
Stock prices, yields, sales, etc
16
Stone, clay, glass products
2-4, 10-12,15, 30
Sugar
23
Sulfur
19
Sulfuric acid
19
Superphosphate
19
Tea imports
23
Telephone and telegraph carriers
19
Television and radio
27
Textiles and products
2-4, 10-12, 15, 30, 31
Tin
26
Tires and inner tubes
29
Tobacco and manufactures
2-4, 10-12, 23
Tractors
27
Trade (retail and wholesale)
2, 3, 5, 8-12, 32
Transit lines, urban
18
Transportation
6, 10-12, 15, 16, 18
Transportation equipment
2-6, 10-12, 15,17, 32
Travel
18
Truck trailers
32
Trucks (industrial and other)
26, 27, 32
9, 10, 13
Unemployment and insurance
16
U.S. Government bonds
14
U.S. Government finance
, 2, 6, 7, 15, 16, 20
Utilities
27
Vacuum cleaners
9
Variety stores
5
Vegetables and fruits
13
Veterans' unemployment insurance.
Wages and salaries
1, 12
Washers and dryers
27
Water heaters
27
Wheat and wheat
flour
21, 22
Wholesale trade
2, 3, 5, 8, 10-12
Wood pulp
28
Wool and wool manufactures
31
26
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