Full text of Survey of Current Business : September 1987
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
SEPTEMBER
1987 / VOLUME 67 NUMBER
SURVEY OF CURRENT BUSINESS
CONTENTS
Business Situation
1
National Income and Product Accounts Tables
6
Reconciliation and Other Special Tables
19
Plant and Equipment-Expenditures,
the Four Quarters of 1987
20
V
V S» Department of Commerce
Clarence J. Brown / Acting Secretary
Robert Ortner / Under Secretary for
Economic Affairs
Bureau of Economic Analysis
Allan H. Young / Director
Carol S. Carson / Deputy Director
Siirxex of Current. Business
Capital Expenditures by Majority-Owned
Foreign Affiliates of U.S. Companies, 1987 and 1988
26
U.S. International Transactions, Second Quarter 1987
32
Summary National Income and Product Series:
Annually, 1929-86, and Quarterly, 1960-86
56
Constant-Dollar Inventories, Sales, and
Inventory-Sales Ratios for Manufacturing and Trade:
Revised Estimates
64
CURRENT BUSINESS STATISTICS
General
SI
Industry S19
Footnotes S33
Subject Index (Inside Back Cover)
Editor-in-Chief: Carol S. Carson
Manuscript Editor: Dannelet A. Grosvenor
Managing Editor: Leland L. Scott
Staff Contributors to This Issue: Leo M. Bernstein,
David W. Cartwright, David T. Dobbs, Ellen M. Herr,
Russell C. Krueger, Daniel J. Larkins, National
Income and Wealth Division, Eugene P. Seskin,
David F. Sullivan, Richard C. Ziemer.
SURVEY OF CURRENT BUSINESS. Published monthly by
the Bureau of Economic Analysis of the U.S. Department
of Commerce. Editorial correspondence should be addressed to the Editor-in-Chief, Survey of Current Business, Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230.
Annual subscription: second-class mail—$25.00 domestic, $31.25 foreign; first-class mail—$50.00. Single copy—
$5.00 domestic, $6.25 foreign.
Mail subscription orders and address changes to the
Superintendent of Documents, U.S. Government Printing
Office, Washington, DC 20402. Make checks payable to
Superintendent of Documents.
Second-class postage paid at Washington, DC and at
additional mailing offices. (USPS 337-790).
The Secretary of Commerce has determined that the publication of this periodical is necessary in the transaction of the public business required by law of this Department. Use of funds for printing
this periodical has been approved by the Director of the Office of Management and Budget through September 30, 1987.
U.S. DEPARTMENT OF COMMERCE DIsTK! *• OKTU KS
AL, Birmingham 35203
2015 2nd Ave., N. 254-1331
AK, Anchorage 99513
701 C St. 271-5041
AR. Little Rock 72201
320 W. Capitol Ave. 378-771*4
AZ, Phoenix 85073
201 N. Central Ave. 261 M28o
CA, Los Angeles 90049
11777 San Vicente Blvd. 209-6707
CA, San Francisco 94102
450 Golden Gate Ave. 556~58(i0
CO, Denver 80202
721 - 19th St. 844-324G
CT, Hartford 06! 03
450 Main St. 722-3530
FL, Miami 33180
51 S.W. First Ave. 350-5207
GA, Atlanta 30309
1365 Peachtree St., N.E. «81-7OO(r
lr\
aft
SliVH
}
> !
f
fl«V
HI, H«.nol
iH \ ,< V
;
»jr
,
i,
i
i \ . f>tN M
J
it M _ -
<) W
1,T,I
>, r
M >». I i ^
U
l<iP'/il
<)! v
}
k l
1
^
!
5r> "Si
I Oil!
(
PI)
A,
t \ Nt» «
f
_ ' n r'
Mti«
M \ «,(»siii . n
. ' ^WlJir
Mi)
I t a l t i, - n . i r .
1
I -. ' i t
MI
l>«*r«,
2 "\
>
r '
«'.'' i n
'» •) '
i
the BUSINESS SITUATION
IT ROFITS from current production—
profits before tax (PBT) with inventory valuation adjustment (IVA) and
capital
consumption
adjustment
(CCAdj)—increased $3 billion in the
second quarter, following a $13 billion
increase in the first.1 Domestic profits
of nonfinancial corporations increased
$2Vfc billion after a $9 billion increase,
domestic profits of financial corporations were flat after a $1 billion increase, and profits from the rest of
the world were up $Vz billion after a
$3 billion increase.
PBT increased $11% billion in the
second quarter after an increase of $9
billion in the first. The much smaller
increase in profits from current production than in PBT was due to the
IVA, which declined $8Vfe billion. The
IVA, like the CCAdj (which changed
little in the second quarter), is reflected in the current production measure
but not in PBT. The IVA converts the
value of inventory withdrawals from
the predominantly historical costs
that underlie PBT to current replacement costs. When current replacement costs of inventory withdrawals
are higher than costs that underlie
PBT, the IVA is negative in order to
remove the resulting capital-gainslike element from profits.
Profits by industry.—PBT with IVA
and CCAdj is not available by industry; PBT with IVA alone, the best
measure of industry profits available,
increased $3 billion in the second
quarter after a $6Vfe billion increase
in the first.
In nonfinancial corporations, profits
of petroleum refiners increased $10 V2
billion (to $12 ¥2 billion), more than
1. Quarterly estimates in the national income and
product accounts are expressed at seasonally adjusted
annual rates, and quarterly changes in them are differences between these rates. Quarter-to-quarter percent changes are compounded to annual rates. Real,
or constant-dollar, estimates are expressed in 1982 dollars.
accounting for the increase in manufacturing profits. The increase in
manufacturing profits, however, was
more than offset by a decline of $11
billion (to $45 billion) in trade profits.
Over the past four quarters, movements in petroleum and trade profits
have been large, choppy, and more or
less offsetting. In each of these quarters, petroleum registered the largest
change of any manufacturing industry, and trade, the largest of any nonmanufacturing industry. For both industries, an increase in one quarter
was followed by a decline in the next,
and a decline in one quarter, by an
increase in the next. In each of the
last four quarters, the large changes
in petroleum and trade profits have
been in opposite directions.
The choppiness in trade profits mirrors changes in the sales of wholesale
and retail trade firms. The choppiness
in petroleum profits is not susceptible
to brief explanation because of the
complex structure of the industry; the
same economic developments affect
disparate segments of the industry
differently. For example, other things
equal, a substantial increase in crude
oil prices such as occurred this year
squeezes the profits of refiners. In
contrast, for integrated firms the
effect on profits from extraction
would offset the effect on profits from
refining; however, if the extraction
occurs overseas, profits from the rest
of the world would increase, not prof-
its in the domestic petroleum industry. A further complication arises because integrated firms typically sell
some crude to nonaffiliated refiners
while purchasing some from nonaffiliated producers; a change in the relationship between crude and product
prices, if it affected the amounts sold
and purchased, would affect profits.
In financial corporations, profits
changed little. Major banks made
very large additions to loss reserves
in the second quarter in connection
with their outstanding foreign loans.
Profits in the national income and
product accounts (NIPA's), however,
are not affected until loans are actually charged against reserves by the
banks.
Federal Budget Developments
Revised estimates of Federal unified budget receipts and outlays for
fiscal years 1987 and 1988 were submitted to Congress by the Office of
Management and Budget in midAugust. The revised deficit for 1987 is
$158.4 billion, and for 1988, $123.3 billion. Both are higher than the targets
specified in the Gramm-Rudman-Hollings Act (formally, the Balanced
Budget and Emergency Deficit Control Act of 1985).
In February 1986, the administration submitted a fiscal year 1987
budget with a deficit slightly under
the $144.0 billion target for that year.
Looking Ahead . . .
• Pollution Abatement Plant and Equipment Expenditures. Pollution
abatement plant and equipment expenditures estimates for 1986 will be
published in the October SURVEY.
• NIPA Index. The index of items appearing in the NIPA tables will
soon be available as a separate publication. See page 68 of this issue for
more information.
September 1987
SURVEY OF CURRENT BUSINESS
Both the Congress' June 1986 concurrent resolution on the 1987 budget
and the administration's August 1986
mid-session review contained estimates under $144.0 billion. In January 1987, the administration's 1988
budget submission contained an estimate of $173.2 billion for the 1987 deficit—$29.2 billion more than the
target. Stronger-than-expected tax collections in the spring of 1987 helped
to bring the estimate in the August
1987 mid-session review considerably
closer to the target.
The administration's January 1987
budget estimate for the fiscal year
1988 deficit was just under the
Gramm-Rudman-Hollings $123.3 billion target, and the June 1987 concurrent resolution on the 1988 budget
met the target by continuing to use
the administration's January economic assumptions. The new mid-session
review estimates, however, exceed the
1988 target by $15.3 billion. Congress
has not yet passed a revised budget
resolution, but during debates in
August concerning a debt ceiling extension, the Senate approved a revised target of $150.0 billion and
House conferees on the bill offered a
target of $144.0 billion. As of mid-September, Congress was debating
changes to the Gramm-Rudman-Hollings Act to strengthen the enforcement mechanisms and raise the
target deficits.
The mid-session review
The new estimates of unified
budget receipts and outlays for fiscal
years 1987 and 1988 reflect revised
economic assumptions, legislation enacted by Congress this year, policy
changes, and reestimates of tax collections and agency spending based
largely on experience since the January 1987 budget. (See the February
1987
SURVEY OF CURRENT BUSINESS
for a discussion of the January
budget.)
Two pieces of legislation enacted
since January had a substantial
impact on the budget estimates. In
April, Congress overrode a presidential veto to enact the Surface Transportation and Uniform Relocation Assistance Act of 1987; the act provided
for more spending from the highway
trust fund than the administration
had requested. In July, the 1987 Supplemental Appropriations Act appropriated more for several programs
than the administration requested.
ceipts are $16.1 billion higher; an
upward revision of $21.9 billion due to
reestimates—including reestimates of
the impact of the Tax Reform Act of
1986 (see the next section)—is partly
offset by a downward revision of $6.4
billion due to revised economic assumptions. Among the major categories of receipts, there are large, partly
offsetting revisions in the two income
tax components. Individual income
taxes are revised up $28.8 billion to
$392.8 billion, and corporate income
taxes are revised down $15.2 billion to
$89.6 billion.
Outlays in 1987 are $1.3 billion
higher; upward revisions of $3.5 billion due to policy changes and $0.9
billion due to economic assumptions
are partly offset by a downward revision of $3.1 billion due to reestimates.
On a program-by-program basis, the
revision is the net of $11.0 billion in
upward revisions and $9.7 billion in
downward revisions. The largest
upward revision is for net interest
($2.1 billion), reflecting a different
On the basis of the revised economic assumptions, real GNP increases
one-half a percentage point less in
calendar year 1987 than expected earlier this year, but at the same rate—
3.2 percent—from the fourth quarter
of 1986 to the fourth quarter of 1987
as expected earlier (table 1). From the
fourth quarter of 1987 to the fourth
quarter of 1988, real GNP increases
3.5 percent, slightly less than expected earlier. In both years, personal
income is higher than expected earlier and corporate profits before taxes
are lower. Reflecting higher-than-expected inflation during the first half
of 1987, consumer prices rise more
than expected earlier; the interest
rate on 10-year Treasury notes is also
higher. The unemployment rate, reflecting the recent larger-than-expected drop, is lower than expected earlier.
Unified budget.—For fiscal year
1987, a $158.4 billion deficit is estimated, compared with $173.2 billion
estimated in January (table 2). Re-
Table 1.—Economic Assumptions Underlying the Mid-Session Review of the Fiscal Year 1988
Budget
Calendar year
Estimates
Actual
1985
1986
Differences from
January
1987
1988
Billions of dollars
GNP:
Current dollars
1982 dollars
4,010
3,608
4,235
3,713
4,491
3,811
4,830
3,936
-2
17
Incomes:
Personal income
Wages and salaries
Corporate profits before taxes
3,327
1,975
225
3,534
2,089
232
3,745
2,212
273
4,002
2,365
317
45
2
-36
61
-6
-24
Percent change from preceding year
GNP in current dollars:
Annual average
Fourth quarter
6.3
6.5
5.6
4.5
6.1
7.6
7.5
7.6
GNP in 1982 dollars:
Annual average
Fourth quarter
3.0
3.3
2.9
2.2
2.6
3.2
3.3
3.5
3.2
3.1
2.6
2.2
3.3
4.2
4.1
4.0
3.5
3.3
1.6
.9
3.6
4.7
4.4
4.4
GNP deflator:
Annual average
Fourth quarter
Consumer Price Index:
Annual average
Fourth quarter
-.2
-.2
1
Percent
Unemployment rate: 2
Annual average
Fourth quarter
7.1
6.9
6.9
6.7
6.2
6.1
5.9
5.8
Insured unemployment rate:
Annual average
2.8
2.8
2.5
2.3
-.1
7.5
10.6
6.0
7.7
5.7
8.0
5.5
7.6
-.1
1.0
Interest rate: 4
91-day Treasury bills
10-year Treasury notes
-.5
-.4
-.4
1. Consumer Price Index for urban wage earners and clerical workers.
2. Percent of labor force, including armed forces residing in the United States.
3. Insured unemployment under the State regular unemployment insurance program, excluding recipients of extended
benefits, as percentage of covered employment under that program.
4. Average rate on new issues within a year. The estimates assume, by convention, that interest rates vary with the rate of
inflation. They do not represent a forecast of interest rates.
Source: "Mid-Session Review of the 1988 Budget."
SURVEY OF CURRENT BUSINESS
September 1987
mix of borrowing than had been expected earlier and higher interest
rates. The other major upward revisions are $1.3 billion for Federal
Housing Administration mortgage insurance, $1.1 billion for medicare, $1.0
billion for medicaid, and $1.0 billion
for the foreign military sales trust
fund. The largest downward revisions
are $3.3 billion for the Federal Deposit Insurance Corporation (FDIC) and
$2.1 billion for the Commodity Credit
Corporation (CCC). The revision for
the FDIC is due to lower cash outlays
per bank closing; the revision for the
CCC is due to changes in the supply
and demand estimates for crops.
For fiscal year 1988, a $123.3 billion
deficit is estimated, compared with
$107.8 billion estimated in January.
Receipts are $7.6 billion lower; a
downward revision of $9.4 billion due
to revised economic assumptions is
partly offset by a $2.0 billion upward
revision due to reestimates. Among
the major categories of receipts, the
largest revisions are an $11.8 billion
reduction in corporate income taxes
Table 2.—Federal Government Receipts and Expenditures
[Billions of dollars]
Fiscal year
Actual
1986
Difference
from
Jan.
Aug.
Difference
from
Jan.
Aug.
Unified budget
Receipts
Outlays
Surplus or deficit ( - ) . .
769.1
989.8
-220.7
842.4
1,015.6
-173.2
858.5
1,016.9
-158.4
16.1
1.3
14.8
916.6
1,024.3
-107.8
909.0
1,032.3
-123.3
-7.6
8.0
-15.5
814.2
358.0
80.3
51.7
324.1
874.6
368.7
108.9
53.8
343.2
899.4
398.0
103.8
53.5
344.1
29.3
-5.1
-.3
968.1
396.5
130.2
56.6
384.8
959.9
402.0
116.2
57.0
384.7
-8.2
5.5
-14.0
.4
-.1
1,027.8
368.4
275.3
93.1
394.8
380.5
14.3
107.4
134.3
22.9
0
1,060.5
384.8
291.0
93.8
409.5
395.3
14.2
104.6
138.5
25.1
2.0
1,061.4
376.1
291.1
85.0
411.6
398.3
13.3
106.7
140.7
29.0
2.7
.9
-8.7
.1
-8.8
2.1
3.0
-.9
2.1
2.2
3.9
.7
1,088.6
1,098.3
392.8
300.4
92.4
432.2
418.5
13.7
104.8
145.6
22.9
0
9.7
-2.0
-.7
-1.4
5.0
5.6
-.6
4.8
5.1
National income and product accounts
Receipts
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Expenditures
Purchases of goods and services..
National defense
Nondefense
Transfer payments
To persons
To foreigners
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises ....
Less: Wage accruals less disbursements
Surplus or deficit ( - )
301.0
93.8
427.2
412.9
14.3
100.0
140.5
26.1
0
-213.6
-3.2
-120.5
Sources: "Mid-Session Review of the 1988 Budget" and the Bureau of Economic Analysis.
Table 3.—Federal Government Receipts and Expenditures, NIPA Basis
[Billions of dollars, seasonally adjusted at annual rates]
Calend ar year
Estimates
Actual
IV
Receipts
....
Personal tax and nontax receipts
Corporate profits tax accruals
Indirect business tax and nontax accruals
Contributions for social insurance
Expenditures
Purchases of goods and services
National defense
....
Nondefense
.. .
Transfer payments
To persons
To foreigners
Grants-in-aid to State and local governments
Net interest paid
Subsidies less current surplus of government enterprises...
Less' Wage accruals less disbursements
Surplus or deficit (—)
I
1988
1987
1987
1986
II
III
I
IV
II
III
852.5
879.3
922.9
929.9
943.6
958.5
969.1
965.2
376 4
90.5
51.1
334.5
381 5
103.0
53.3
341.5
415.6
107.9
54.2
345.2
405.8
115.0
55.3
353.8
407.1
118.7
57.9
359.9
407.6
113.3
56.3
381.3
408.3
115.4
56.6
388.8
394.8
117.2
57.0
396.2
1,041.2
1,049.8
1,062.1
1,085.4
1,096.8
1,105.8
1,096.1
1,095.0
368.6
279.0
89.6
405 7
3910
14.7
102.8
137.8
366.9
287.5
79.4
406.7
396.0
10.7
102.2
139.5
379.6
294.5
85.1
412.0
401.5
10.5
106.0
139.8
388.3
302.0
86.3
422.0
405.0
17.0
115.8
144.0
394.3
300.9
93.4
420.4
405.8
14.6
106.6
144.7
392.8
301.0
91.8
434.0
420.6
13.4
104.6
145.4
392.1
300.0
92.1
436.9
423.5
13.4
104.1
145.9
34.3
24.8
26.0
30.8
29.0
17.1
392.1
299.5
92.6
437.8
424.4
13.4
103.9
146.4
14.8
0
0
10.7
0
0
0
0
-170.5
-139.2
-155.5
-153.2
-147.3
-127.0
-129.8
26.3
0
-188.7
\
and a $3.3 billion increase in individual income taxes.
Outlays in 1988 are $8.0 billion
higher; upward revisions of $4.3 billion due to policy changes and $5.7
billion due to revised economic assumptions are partly offset by a $1.8
billion downward revision due to reestimates. On a program-by-program
basis, the revision in outlays is the
net of $17.3 billion in upward revisions and $9.3 billion in downward revisions. The largest upward revision
is for net interest ($5.7 billion), most
of which is attributable to higher interest rates. Other upward revisions
include $1.5 billion for medicaid, reflecting higher actual and estimated
State benefits, and $1.1 billion for
Social Security, reflecting the effect of
the revised assumption about consumer prices on the January 1988
cost-of-living increase (a 4.2-percent
instead of a 3.5-percent increase). The
largest downward revision is for the
CCC ($5.3 billion), attributable to
changes in the supply and demand estimates for crops. Lower unemployment rates reduce unemployment insurance benefits by $1.1 billion, and
lower cash outlays per bank closing
reduce FDIC outlays by $1.1 billion.
Revised NIPA estimates.—BE A has
prepared estimates of the Federal
sector on the national income and
product account (NIPA) basis consistent with the revised unified budget
estimates (table 2, and table 3 for the
quarterly pattern). On this basis,
fiscal year 1987 receipts are $24.8 billion higher than estimated in January, expenditures are $0.9 billion
higher, and the deficit is $23.9 billion
lower.
The upward revision in receipts is
more than accounted for by an
upward revision of $29.3 billion in
personal tax and nontax receipts;
$16.3 billion of this revision is attributable to nonwithheld income tax
payments, $11.0 billion to withheld
income tax, and $1.9 billion to estate
and gift taxes and personal nontaxes.
The most important factor in the revision to nonwithheld taxes is higherthan-expected payments in 1987 by
taxpayers who had realized capital
gains in 1986 in order to benefit from
preferential treatment of that income;
under a provision of the Tax Reform
Act of 1986, capital gains realized
after 1986 will be taxed as ordinary
income. Partly offsetting the upward
revisions is a downward revision of
SURVEY OF CURRENT BUSINESS
Table 4.—Relation of Federal Government Receipts in the National Income and Product
Accounts to the Unified Budget
Table 5.—Relation of Federal Government Expenditures in the National Income and Product Accounts to the United Budget
[Billions of dollars]
September 1987
Table 6.—Cyclically Adjusted Surplus or
Deficit ( - ) , NIPA Basis
[Billions of dollars; quarters at seasonally adjusted einnual
rates]
[Billions of dollars]
Based on middleexpansion trend
GNP
Fiscal year
1986
Unified budget receipts
Less: Coverage differences
Plus: Netting differences:
Contributions to government
employees retirement funds....
Other....
Timing differences:
Corporate income tax
Federal and State
unemployment insurance
taxes
Withheld personal income tax
and social security
contributions
Excise taxes
Other
Miscellaneous
Equals: Federal Government receipts,
NIPA's
1987
1988
Fiscal year
1986
769.1 858.5 909.0
1.2
1.5
1.7
33.7
12.6
35.7
13.3
40.6
20.0
-.2
-1.7
-3.6
.7
0
.2
-.7
.2
_ 2
-4.0
-.9
-1.4
-2.8
— 2
814.2 899.4 959.9
Unified budget outlays
Less: Coverage differences:
Geographic
Other.
1987
989.8 1,016.9 1,032.3
5.4
-1.6
5.6
-1.2
5.6
-.4
Financial transactions:
Net lending
Other
14.3
-2.9
8.7
-4.5
3.2
-5.1
Net purchases of land:
Outer Continental Shelf
Other
-2.1
.2
-1.6
.2
-1.2
-2.7
Plus: Netting differences:
Contributions to government
employees retirement
funds
Other
Timing differences:
National defense purchases
Other
33.7
12.6
35.7
13.3
40.6
20.0
4.0
1.1
4.9
-2.3
3.6
.9
-.2
.1
.2
Equals: Federal Government
expenditures, NIPA's
1,098.3
1,027.8 1,061.4
Change
Level
Change
Calendar year:
1985
1986
1987
-202.3
-218.6
-177.6
-37.1
-16.3
41.0
-171.7
-187.9
-146.1
-35.6
-16.2
41.8
I
II
III....
IV....
-166.1
213.4
203.9
-225.8
20.4
-47.3
9.5
-21.9
-134.8
-183.8
-173.0
-195.1
22.2
-49.0
10.8
-22.1
I
II
III....
IV....
-215.1
-243.8
-216.0
-199.6
10.7
-28.7
27.8
16.4
-184.1
-213.2
-185.4
-168.7
11.0
-29.1
27.8
16.7
I
II
Ill....
IV....
-188.7
-161.8
-179.3
-180.7
10.9
26.9
-17.5
-1.4
-158.0
-129.8
-147.6
-149.0
10.7
28.2
-17.8
-1.4
II
III....
-178.7
-161.7
-167.9
2.0
17.0
-6.2
-147.2
-130.2
-136.9
1.8
17.0
-6.7
Quarters:
1985:
1986:
Miscellaneous
$5.1 billion in corporate profits tax accruals, largely due to lower corporate
profits.
The revision in expenditures is the
net of $11.3 billion in upward revisions and $10.4 billion in downward
revisions (including a revision to wage
accruals less disbursements, a category that is subtracted in deriving total
expenditures). The largest upward revision is for subsidies less the current
surplus of government enterprises
($3.9 billion), reflecting higher estimates for agricultural subsidies and
for the CCC deficit. The other large
upward revisions are for transfer payments to persons ($3.0 billion), net interest ($2.2 billion), and grants-in-aid
to State and local governments ($2.1
billion). The revision in transfer payments to persons reflects higher medicare benefits, and the revision in
grants-in-aid reflects higher grants for
medicaid, education, and several
other programs. The largest downward revision—$8.8 billion—is in nondefense purchases and reflects lower
net purchases of agricultural commodities by the CCC.
For fiscal year 1988, receipts are
$8.2 billion lower than estimated in
January, expenditures are $9.7 billion
higher, and the deficit is $17.9 billion
higher. The downward revision in receipts is more than accounted for by a
$14.0 billion downward revision in
corporate profits taxes, largely attributable to lower corporate profits. An
upward revision in personal tax and
Level
1988
Based on 6percent
unemployment
rate trend GNP
1987:
1988:
nontax receipts ($5.5 billion) is a par- GNP, the Federal deficit on the NIPA
tial offset.
basis decreases $41.0 billion in calenThe revision in expenditures is the dar year 1987 (table 6). On a quarternet of $15.5 billion in upward revi- ly basis, the pattern of the cyclically
sions and $5.8 billion in downward re- adjusted deficit is similar to the patvisions. The largest upward revision— tern in the NIPA deficit. The cyclical$5.6 billion—is for transfer payments ly adjusted budget based on middleto persons, reflecting higher medicare expansion trend GNP is associated
benefits and the larger January 1988 with a middle-expansion trend unemcost-of-living increase for Social Secu- ployment rate of 7.4 percent. The cyrity and other programs. Net interest clically adjusted deficit based on a 6paid is revised up $5.1 billion, reflect- percent unemployment rate is lower,
ing higher interest rates. Grants-in- but follows the same quarterly pataid are revised up $4.8 billion; the tern.
upward revisions are in education,
medicaid, highways, and several other Tax Reform Act of 1986: Revised estiprograms. The largest downward revimates
sion—$3.2 billion—is for subsidies less
The March 1987 SURVEY contains a
the current surplus of government enterprises and primarily reflects lower discussion of the Tax Reform Act of
agricultural subsidies. Nondefense 1986 and its impact on Federal Govpurchases are revised down $1.4 bil- ernment receipts and expenditures on
lion; a $3.4 billion reduction in CCC a NIPA basis. Table 7 presents repurchases is partly offset by upward vised annual and quarterly estimates
revisions in purchases for other pro- based on the mid-session review of the
grams. Transfer payments to foreign- budget; these estimates incorporate
ers and national defense purchases revised economic assumptions as well
as later tax collection experience.
are each revised slightly.
Total NIPA receipts are revised up
Table 4 shows the relation between $6.2
billion in 1987, down $1.3 billion
unified budget receipts and NIPA re- in 1988,
and down $6.4 billion in 1989.
ceipts, and table 5 shows the relation
Personal
tax and nontax receipts are
between unified budget outlays and
revised
up
$7.5 billion in 1987, up $1.1
NIPA expenditures.
billion in 1988, and down $6.6 billion
Cyclically adjusted deficit.—As in 1989. The 1987 revision includes an
measured using cyclical adjustments upward revision of $15.1 billion in
based on middle-expansion trend nonwithheld income tax, which is
SURVEY OF CURRENT BUSINESS
September 1987
partly offset by a $7.6 billion downward revision in withheld income tax.
The most important factor in the revision to nonwithheld income tax is
higher-than-expected payments in
1987 by taxpayers who had realized
capital gains in 1986 in order to benefit from preferential treatment of that
income; under this act, capital gains
realized after 1986 will be taxed as ordinary income. Corporate profits tax
accruals are revised down $1.3 billion
in 1987, down $2.4 billion in 1988, and
up $0.2 billion in 1989. The estimates
of the impact on indirect business tax
and nontax accruals and on contributions for social insurance are not revised.
Second-quarter NIPA revisions
The second revisions of the NIPA
estimates for the second quarter of
1987 are shown in table 8, on page 19.
Table 7.—Impact of the Tax Reform Act of 1986 on Federal Government Receipts and Expenditures, NIPA Basis
[Billions of dollars]
Calendar year
Seasonally adjusted at annual rates
Line
1987
1988
1989
III
I
16.9
42.6
10.8
10.1
-11.7
-28.5
-42.6
-14.6
10.8
-21.1
-21.9
-35.5
-41.3
3.2
.8
.7
.7
.4
-43.9
-50.1
3.3
.8
1.1
.7
.3
-47.7
-54.5
3.5
.9
1.6
.7
.1
-41.6
.7
.4
-32.5
-38.3
3.2
.8
.7
.7
.4
-39.3
3.2
.8
.7
.7
.4
24.7
-13.8
24.1
16.0
-15.0
-2.8
6.5
-25.7
-1.5
27.9
-15.7
29.0
-36.3
68.4
13.4
-1.5
-.5
4.9
-.5
1.4
4.8
-1.2
3.6
5.2
4.9
4
L4
4.9
-.5
1.4
.2
1.1
1.1
.7
.5
.5
.3
4.2
4.8
.9
4.2
2.1
4.5
5.9
1.0
3.2
L5
.8
.7
.5
.5
.3
4.5
-5.0
Receipts
Personal tax and nontax receiptsWithheld income taxes
Basic rate structure *
Pensions and employee benefitsBusiness expenses
Consumer interest expense
Other itemized deductions
Other
Declarations and net settlements
Basic rate structure l
Capital gains
Capital cost recovery system:
Investment tax credit
Other
Minimum tax
Pensions and employee benefits:
Limit individual retirement accounts
Other
Tax shelters and real estate
Consumer interest expense
Other itemized deductions.
Exclusions from income
Other
IV
-34.4
Basic rate structure
Capital cost recovery system:
Investment tax credit:
Regular
Carryforward and transition....
Carrybacks
Depreciation and expensing
Other
Accounting rules:
Uniform capitalization
Installment method limits
Bad debt reserves
Other
Minimum tax
Insurance companies
Employee stock ownership
Foreign taxes
Business expenses
Research and development
Financial institutions
Capital gains
General Utilities rule
Tax-exempt bonds
Tax shelters and real estate
Other
-10.6
-26.4
7.7
-24.0
-1.7
5.1
-27.4
-1.3
-27.8
4.8
-1.0
3.3
4.8
-.7
3.0
4.9
-.4
1.3
5.1
-.3
.9
5.3
-.3
.6
5.5
-.2
.4
4.9
.9
4.4
2.2
4.5
5.8
1.0
3.1
4.7
.9
4.8
2.4
4.5
5.7
1.0
2.9
4.6
.9
5.5
2.6
4.6
5.5
1.1
2.7
4.6
.9
5.7
2.9
4.6
5.4
1.1
2.5
25.0
-5.4
-3.3
-6.3
-3.0
-23.7
-2.6
4.9
-.5
1.4
4.9
-.6
1.4
4.8
-1.2
4.0
4.8
-1.4
3.7
-2.5
1.5
1.0
.7
.5
.5
.3
4.3
1.6
.7
1.2
.7
.5
.5
.3
4.1
1.8
.7
1.4
.7
.5
.5
.3
3.9
4.7
.9
3.6
1.8
4.5
6.1
1.0
3.5
4.9
.9
4.0
2.0
4.5
6.0
1.0
3.3
-.6
-.5
31.1
31.4
31.5
31.6
-10.3
-10.5
-10.7
-10.9
24.0
1.5
15.4
.2
15.6
.2
16.0
.2
16.2
.2
-2.4
.5
20.1
2.1
-.6
-2.0
.6
.2
.7
-2.4
.5
-2.4
.5
-2.4
.5
9.1
2.2
1.7
1.2
4.5
2.2
1.8
1.6
1.5
-1.4
.8
.7
.5
.5
-.1
1.1
8.5
1.4
1.5
1.1
4.7
2.5
.2
2.0
1.5
-1.2
1.4
.9
1.2
.5
-.5
1.5
7.3
1.3
1.5
1.3
4.8
2.8
.1
2.3
1.7
-.5
1.8
1.1
1.5
.4
-.9
1.2
9.4
2.6
1.7
1.2
4.4
2.1
1.8
1.5
1.5
-1.3
.5
.6
.2
.5
-.1
1.1
9.2
2.4
1.7
1.2
4.5
2.2
1.8
1.6
1.5
-1.4
.7
.7
.4
.5
-.1
1.1
9.0
2.1
1.7
1.2
4.5
2.2
1.8
1.6
1.5
-1.4
.9
.7
.6
.5
-.1
1.1
15.8
.2
7.6
-23.6
-2.1
-1.7
-.5
Indirect business tax and nontax accruals..
7.6
-23.9
-24.8
4.6
.9
6.1
3.6
4.6
5.3
1.1
2.4
26.7
-25.9
-24.2
-25.6
-27.1
-28.7
20.0
2.1
-.6
-2.0
.6
20.2
2.1
-.6
-2.0
.6
20.4
2.1
-.6
-2.0
.6
22.4
1.5
23.4
1.5
24.6
1.5
25.6
1.5
-2.4
.5
19.8
2.1
-.6
-2.0
.6
.2
.7
.2
.7
.2
.7
.2
.7
1.7
1.7
1.2
4.6
2.3
1.8
1.7
1.5
-1.5
1.1
8.7
1.4
1.5
1.1
4.7
2.4
.2
1.9
1.5
-1.5
1.1
.5
-.1
1.1
.5
-.2
1.5
8.6
1.4
1.5
1.1
4.7
2.5
.2
2.0
1.5
-1.3
1.3
.9
1.1
.5
-.4
1.5
8.4
1.4
1.5
1.1
4.7
2.5
.2
2.0
1.5
-1.1
1.5
.9
1.3
.5
-.6
1.5
8.3
1.4
1.5
1.1
4.7
2.6
.2
2.1
1.5
-.9
1.7
1.0
1.5
.5
-.8
1.5
7.9
1.3
1.5
1.2
4.8
2.7
.1
2.2
1.6
-.7
1.7
1.1
1.5
.5
-.8
1.3
7.5
1.3
1.5
1.3
4.8
2.8
.1
2.3
1.7
-.5
1.8
1.1
1.5
.4
-.9
1.2
7.1
1.3
1.5
1.3
4.8
2.8
.1
2.3
1.7
4
L8
1.1
1.5
.4
-.9
1.2
6.7
1.3
1.5
1.4
4.8
2.9
.1
2.4
1.8
-.4
1.9
1.1
1.5
.3
-1.0
1.1
.4
.4
.2
.1
Expenditures
1. Additional detail shown for this category in the March 1987 SURVEY is not available at this time.
5.7
-1.3
Contributions for social insurance
Transfer payments to persons:
51
Earned income credit
-54.0
3.5
.9
1.5
.7
.1
28.5
-23.0
-56.0
3.6
1.0
1.9
.7
.1
-24.7
-2.3
-50.6
3.3
.8
1.1
.7
.3
44.2
-48.1
-55.0
3.5
.9
1.7
.7
.1
-53.0
3.4
.8
1.3
.7
.1
-49.6
3.3
.8
1.1
.7
.3
-40.3
3.2
Estate and gift taxes
Corporate profits tax accruals
-47.3
-51.6
3.3
.8
1.2
.7
.3
-48.6
3.3
.8
1.0
.7
.3
-47.3
3.2
IV
III
2.6
1.5
2.6
SURVEY OF CURRENT BUSINESS
6
September 1987
National Income and Product Accounts Tables
N e w e s t i m a t e s i n t h i s issue: Second q u a r t e r 1987, revised ( r ) .
Estimates for 1929-82 are in The National Income and Product Accounts, 1929-82: Statistical Tables (GPO Stock No. 003-010-00174-7, price
$23.00). Estimates for 1983 are in the July 1986 SURVEY. Estimates for 1984-86 are in the July 1987 SuRVEY.These publications are available
from the Superintendent of Documents and Commerce Department District Offices; see addresses inside front cover.
The full set of national income and product accounts estimates shown regularly in this part of the SURVEY are now available on diskette for
$240 per year (12 updates). For more information, write to the Bureau of Economic Analysis (BE-54), U.S. Department of Commerce, Washington, DC 20230.
Table 1.1.—Gross National Product
Table 1.2.—Gross National Product in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
1986
I
Gross national product
Personal consumption
expenditures
Durable goods
Nondurable goods
Services
Gross private domestic
investment
\
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories..
Nonfarm
Farm
Net exports of goods and
services
Exports
Imports
Government purchases of goods
and services
Federal
National defense
Nondefense
State and local
II
1985
1987
III
IV
I
IF
4,010.3 4,235.0 4.174.4 4,211.6 4,265.9 4.288.1 4,377.7 4,445.1
II
I
Gross national product
1987
1986
1986
IV
III
I
IF
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0 3,731.5 3,772.2 3.795.3
2,629.4 2,799.8 2,737.9 2,765.8 2,837.1 2,858.6 2,893.8 2,943.7
Personal consumption
expenditures
2,352.6 2,450.5 2,409.7 2,434.3 2,477.5 2,480.5 2,475.9 2,487.5
419.8
368.7
386.4
427.6
396.1
409.0
402.4
375.9
946.3 969.9
982.1
913.1
939.4
936.8
934.3 940.0
1,492.4
1,469.5
1,527.7
1,552.6
1,458.0
1,425.2
1,347.5
1,445.1
Durable goods
Nondurable goods
Services
385.4
405.5 399.0 375.9
369.6
352.7
383.5
359.8
868.8
880.0
879.8 880.3 883.2
879.0
849.5
877.2
1,150.4 1,189.8 1,181.2 1,184.7 1,192.2 1,201.1 1,216.9 1,223.1
Gross private domestic
investment
641.6
671.0
683.4
679.4
660.8
660.2
699.9
702.6
631.6
442.6
152.5
655.2
436.9
137.4
645.1
440.7
149.6
651.9
433.8
135.9
657.3
433.5
131.1
666.6
439.7
132.9
648.2
422.8
128.7
662.3
434.6
129.7
290.1
189.0
299.5
218.3
291.0
204.4
297.9
218.1
302.4
223.8
306.7
226.9
294.1
225.4
304.9
227.7
10.0
13.6
3 6
15.7
16.8
1 l
38.3
38.5
2
27.5
24.5
30
3.5
-.9
45
-6.4
5.1
11 6
51.6
48.7
29
40.3
27.3
13 0
Fixed investment
Nonresidential
Structures
Producers' durable
equipment
Residential
Change in business
inventories
Nonfarm
Farm
-93.8 -100.8 -110.5 -116.9 -112.2 -118.4
Net exports of goods and
services
-79.2 -105.5
369.9
449.2
376.2
481.7
373.5
467.3
371.3
472.1
376.6
487.1
383.3
500.2
397.3
509.5
416.5
534.8
818.6
869.7
846.9
867.2
878.5
886.3
896.2
917.1
353.9
259.3
94.6
464.7
366.2
277.8
88.4
503.5
356.7
266.6
90.1
490.2
368.4
278.2
90.2
498.8
371.2
287.6
83.6
507.3
368.6
279.0
89.6
517.7
366.9
287.5
79.4
529.3
379.6
294.5
85.1
537.6
Exports
Imports
Government purchases of goods
and services
Federal
National defense
Nondefense
State and local
636.1
654.0
674.4
665.6
645.0
631.0
671.8
673.7
628.7
454.1
149.4
640.2
443.8
130.3
639.1
453.2
145.4
637.6
441.0
128.4
638.8
437.7
122.7
645.4
443.2
124.6
624.2
426.0
120.4
634.7
437.9
120.4
304.8
174.6
313.5
196.4
307.8
185.9
312.6
196.5
315.0
201.1
318.6
202.2
305.6
198.2
317.5
196.8
7.4
12.0
-4.6
13.8
15.4
-1.6
35.3
35.2
.1
28.1
23.9
4.2
6.1
.1
6.0
-14.4
2.3
-16.6
47.6
43.9
3.7
39.0
22.7
16.3
-108.2 -145.8 -123.0 -146.8 -161.6 -151.8 -135.2 -132.7
371.5
494.4
370.2
517.0
379.6
541.2
388.3
540.1
397.8
533.0
414.5
547.2
754.5
737.6
751.6
757.2
771.8
759.6
766.7
332.5
250.7
81.8
422.1
322.1
240.0
82.0
415.5
330.6
250.1
80.4
421.0
332.6
259.8
72.8
424.6
344.6
252.7
91.9
427.1
327.3
257.4
69.9
432.3
332.6
263.5
69.1
434.1
365.3
473.6
377.4
523.2
726.9
324.2
236.7
87.5
402.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.3.—Gross National Product by Major Type of Product
Table 1.4.—Gross National Product by Major Type of Product in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonallyf adjusted at annual rates
1985
1986
1986
I
Gross national product
Final sales
Change in business
inventories
Goods
II
1985
1987
III
IV
I
II r
4,000.3 4,219.3 4,136.1 4,184.0 4,262.4 4,294.6 4,326.0 4,404.8
10.0
15.7
38.3
27.5
3.5
-6.4
51.6
40.3
1,637.9 1,693.8 1,682.8 1,689.9 1,703.5 1,698.9 1,738.7 1,763.5
Final sales.
Change in business
inventories
1,627.9 1,678.0 1,644.5 1,662.4 1,700.0 1,705.3 1,687.1 1,723.2
10.0
15.7
38.3
27.5
3.5
-6.4
51.6
40.3
Durable goods
Final sales
Change in business
inventories
704.3
696.9
726.8
721.9
717.0
691.1
717.0
707.0
735.8
747.9
737.3
741.8
747.0
711.9
756.7
734.6
7.3
4.8
25.9
10.1
-12.1
-4.5
35.2
22.1
Nondurable goods
Final sales
Change in business
inventories
933.6
931.0
967.0
956.1
965.8
953.4
972.9
955.4
967.8
952.1
961.6
963.5
2.7
10.9
12.5
17.5
15.6
-1.9
Services
..
Structures
991.7 1,006.8
975.2
988.6
16.5
18.2
1 969 3 2 116 2 2 070 2 2 097 9 2 136 6 2 160 0 2 212 0 2 252 2
403.1
425.1
421.4
423.8
425.7
429.3
426.9
429.4
NOTE.—Percent changes from preceding period for selected items in this table are shown
table 8.1.
I
4,010.3 4,235.0 4,174.4 4,211.6 4,265.9 4,288.1 4,377.7 4,445.1
Gross national product
Final sales
Change in business
inventories
Goods
Final sales
Change in business
inventories
1987
1986
1986
II
III
IV
I
IP
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3
3,600.1 3,699.5 3,663.4 3,676.7 3,711.9 3,745.8 3,724.5 3,756.3
7.4
13.8
35.3
28.1
6.1
-14.4
47.6
39.0
1,548.6 1,595.0 1,589.5 1,594.4 1,593.7 1,602.6 1,626.0 1,638.2
1,541.2 1,581.3 1,554.1 1,566.4 1,587.5 1,616.9 1,578.4 1,599.2
7.4
13.8
35.3
28.1
6.1
-14.4
47.6
39.0
Durable goods
Final sales
Change in business
inventories
688.0
681.6
716.9
712.6
705.8
682.1
705.9
696.9
724.8
735.9
731.2
735.5
739.2
707.8
753.2
733.4
6.4
4.3
23.6
9.0
-11.1
-4.3
31.4
19.9
Nondurable goods
Final sales
Change in business
inventories
860.6
859.7
878.1
868.6
883.7
872.0
888.5
869.5
868.8
851.6
871.4
881.4
886.8
870.6
885.0
865.9
.9
9.5
11.7
19.1
17.2
-10.0
16.2
19.1
Services
Structures
1,679.5 1,730.8 1,718.9 1,724.2 1,738.7 1,741.3 1,764.0 1,777.4
379.4
387.4
390.4
386.0
385.6
387.5
382.1
379.7
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
SURVEY OF CURRENT BUSINESS
September 1987
Table 1.5.—Relation of Gross National Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers
Table 1.6.—Relation of Gross National Product, Gross Domestic
Purchases, and Final Sales to Domestic Purchasers in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
I
Gross national product
III
IV
I
369.9
376.2
373.5
371.3
376.6
383.3
397.3
416.5
449 2
4817
467 3
472 1
487.1
500.2
509.5
534.8
10.0
15.7
38.3
27.5
3.5
-6.4
I
40.3
51.6
4,079.5 4,324.8 4,229.9 4,284.9 4,372.9 4,411.5 4,438.2 4,523.2
Gross national product
Less: Exports of goods and
services
Plus: Imports of goods and
services
Equals: Gross domestic
purchases '
Less: Change in business
inventories
Equals: Final sales to domestic
purchasers 2
1987
1986
1986
IF
4,089.5 4,340.5 4,268.2 4,312.4 4,376.4 4,405.1 4,489.8 4,563.4
Less: Change in business
inventories
Equals: Final sales to domestic
purchasers 2
II
4 010 3 4 235 0 4 174 4 4 211 6 4 265.9 4 288 1 4 377 7 4,445.1
Less: Exports of goods and
services
Plus: Imports of goods and
services... .
Equals: Gross domestic
purchases *
1985
1987
1986
IV
III
II
I
IF
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3
365.3
377.4
371.5
370.2
379.6
388.3
397.8
414.5
473 6
523 2
494 4
517 0
541.2
540.1
533.0
547.2
3,715.7 3,859.1 3,821.7 3,851.5 3,879.6 3,883.3 3,907.4 3,927.9
7.4
13.8
35.3
28.1
6.1
-14.4
47.6
39.0
3,708.3 3,845.3 3,786.4 3,823.4 3,873.5 3,897.6 3,859.7 3,888.9
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.7.—Gross National Product by Sector
Table 1.9.—Relation of Gross National Product, Net National Product,
National Income, and Personal Income
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
III
II
I
Gross national product
1987
1986
1986
Gross national product
IV
I
IF
4,010.3 4,235.0 4,174.4 4,211.6 4,265.9 4,288.1 4,377.7 4,445.1
3,970.5 4,201.3 4,134.7 4,179.4 4,230.4 4,260.6 4,346.9 4,417.3
3,409.5 3,605.2 3,551.6 3,587,9 3,630.7 3,650.8 3,725.2 3,785.0
3,340.1 3,533.8 3,480.6 3,509.9 3,557.9 3,586.6 3,650.4 3,704.1
3,025.0 3,186.3 3,144.6 3,165.5 3,206.8 3,228.5 3,286.5 3,333.8
358.1 363.9 370.3
351.2
344.4
335.9
315.1 347.4
76.4
84.1
75.7
73.9
76.9
78.8
77.1
75.1
-4.9
-3.1
.9
-2.9
-2.2
- 6 . 1 -11.6
-5.6
Less: Capital consumption
allowances with capital
consumption adjustment
Capital consumption
allowances without
capital consumption
adjustment
Less: Capital
consumption
adjustment
Equals: Net national product
Households and institutions
Private households
Nonprofit institutions
142.2
9.0
133.1
152.2
9.3
142.8
148.8
9.1
139.7
151.2
9.2
141.9
153.4
9.4
144.0
155.4
9.6
145.8
158.9
9.7
149.2
162.2
9.9
152.3
Less: Indirect business tax and
nontax liability
Business transfer
payments
Statistical discrepancy
Government
Federal
State and local
418.8
140.5
278.3
443.9
143.9
299.9
434.3
143.2
291.1
440.3
143.7
296.7
446.3
144.0
302.3
454.5
144.7
309.8
462.9
148.8
314.1
470.0
150.2
319.8
Plus: Subsidies less current
surplus of government
enterprises
39.8
33.7
39.8
32.2
35.5
27.5
30.7
27.8
Rest of the world
Addendum:
Gross domestic business
product less housing
3,085.8 3,249.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 1.8.—Gross National Product by Sector in Constant Dollars
Se asonally adjusted at annual rates
1986
I
Gross national product
Gross domestic product
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
1987
1986
II
III
IV
I
Less: Corporate profits with
inventory valuation and
capital consumption
adjustments
Net interest
Contributions for social
insurance
Wage accruals less
disbursements
Plus: 'Government transfer
payments to persons
Personal interest income..
Personal dividend income
Business transfer
payments
[Billions of 1982 dollars]
1985
Equals: National income
Equals: Personal income
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3
3,571.5 3,683.5 3,663.4 3,676.3 3,686.9 3,707.3 3,745.6 3,771.4
3,095.1 3,197.9 3,181.1 3,191.5 3,200.2 3,218.5 3,254.7 3,278.4
3,021.3 3,117.5 3,100.4 3,106.7 3,120.2 3,142.5 3,171.4 3,196.2
2,756.0 2,841.9- 2,828.4 2,832.1 2,843.4 2,863.7 2,890.7 2,913.5
265.3 275.5 272.0
278.8 280.7
274.6 276.8
282.7
83.2
85.3
86.3
84.0
84.9
78.9
84.7
85.2
-2.6
- 5 . 4 -10.2
.8
-2.7
-5.1
-4.3
-1.9
447.8
454.1
458.9
465.9
469.7
476.6
462.9
477.7
473.6
474.8
478.1
484.3
496.6
502.8
25.3
21.0
25.8
20.8
19.2
18.4
26.8
26.2
3,572.7 3,778.4 3,726.6 3,757.5 3,807.0 3,822.3 3,907.9 3,968.5
333.2
347.7
345.6
340.7
352.8
351.9
358.3
21.6
-5.6
22.3
-4.9
22.0
-2.9
22.2
.9
22.4
-6.1
22.6
-11.6
22.8
-2.2
23.1
-3.1
6.3
8.7
2.3
20.4
.7
11.6
19.3
9.9
3,229.9 3,422.0 3,364.2 3,414.1 3,438.7 3,471.0 3,548.3 3,593.3
277.6
315.3
284.4
326.1
288.0
326.6
282.3
328.7
286.4
327.5
281.1
321.7
294.0
323.6
296.8
331.1
352.7
374.3
369.3
371.9
374.9
381.0
386.7
390.9
-.2
0
0
0
0
0
0
0
468.2
476.5
76.3
496.0
497.6
81.2
486.6
495.7
78.8
492.3
500.0
81.0
501.2
498.1
82.1
504.1
496.8
82.9
510.9
499.8
84.5
518.4
506.3
86.3
21.6
22.3
22.0
22.2
22.4
22.6
22.8
23.1
3,327.0 3,534.3 3,463.4 3,526.6 3,553.6 3,593.6 3,662.0 3,708.6
[Billions of 1982 dollars]
Gross national product
Less: Capital consumption
allowances with capital
consumption adjustment
125.9
9.0
116.9
124.2
8.9
115.3
125.8
8.9
116.8
126.6
9.1
117.5
127.2
9.2
118.0
128.9
9.3
119.5
130.0
9.5
120.6
Equals: Net national product
Government
Federal
State and local
355.3
122.3
232.9
359.7
122.6
237.1
358.1
122.6
235.6
359.0
122.4
236.6
360.2
122.5
237.7
361.6
123.0
238.6
362.0
122.7
239.3
363.0
122.8
240.2
36.0
29.8
35.4
28.4
31.1
24.2
26.6
23.9
Less: Indirect business tax and
nontax liability plus business
transfer payments less
subsidies plus current surplus
of government enterprises
Statistical discrepancy
Addendum:
Equals: National income
2,820.6 2,913.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
456.7
Table 1.10.—Relation of Gross National Product, Net National Product,
and National Income in Constant Dollars
121.1
8.8
112.3
Gross domestic business
product less housing
437.6
IF
Households and institutions
Private households
Nonprofit institutions
Rest of the world
4,010.3 4,235.0 4,174.4 4,211.6 4,265.9 4,288.1 4\377.7 4,445.1
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0' 3,731.5 3,772.2 3,795.3
426.3
442.0
435.3
439.6
444.2
449.1
453.2
456.6
3,181.2 3,271.2 3,263.5 3,265.2 3,273.8 3,282.4 3,318.9 3,338.7
300.4
314.2
307.0
312.0
319.0
318.7
316.2
319.9
-5.1
-4.3
-2.6
.8
-5.4
-10.2
-1.9
-2.7
2,885.9 2,961.4 2,959.0 2,952.4 2,960.1 2,973.9 3,004.6 3,021.5
SURVEY OF CURRENT BUSINESS
September 1987
Table 1.16.—Gross Domestic Product of Corporate Business in Current
Dollars and Gross Domestic Product of Nonfinancial Corporate
Business in Current and Constant Dollars
Table 1.11 is on the next page.
Table 1.14.—National Income by Type of Income
Seasonally adjusted at annual rates
1985
[Billions of dollars]
1985
1986
1987
1986
I
II
IV
III
3,229.9 3,422.0 3,364.2 3,414.1 3,438.7 3,471.0 3,548.3 3,593.3
Compensation of employees
2,370.8 2,504.9 2,464.8 2,487.6 2,515.1 2,552.0 2,589.9 2,623.4
Supplements to wages and
salaries
Employer contributions for
social insurance
Other labor income
Proprietors' income with
inventory valuation and
capital consumption
adjustments
Farm
Proprietors' income with
inventory valuation
adjustment
Capital consumption
adjustment
Nonfarm
Proprietors' income
Inventory valuation
adjustment
Capital consumption
adjustment
Rental income of persons with
capital consumption
adjustment
Rental income of persons
Capital consumption
adjustment
1,974.7 2,089.1 2,055.3 2,074.6 2,097.9 2,128.5 2,163.3 2,191.4
372.1 394.8 386.1 391.6 397.7 403.8 412.2 418.1
1,602.6 1,694.3 1,669.3 1,683.0 1,700.2 1,724.7 1,751.1 1,773.3
413.0
415.8
203.8
192.3
214.7
201.1
211.7
197.8
213.1
199.8
202.3
204.4
297.8
206.7
Corporate profits with
inventory valuation
adjustment
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits..
222.5
209.5
320.9
Net interest
289.8
270.8
298.1
37.2
28.0
48.1
45.4
36.2
56.3
44.3
44.5
59.0
55.0
-8.6
-8.1
-8.2
-8.2
-8.0
-7.9
-7.7
-7.7
227.6
196.0
252.6
217.7
242.8
209.2
250.1
217.4
256.2
220.2
261.2
223.9
269.7
232.4
275.8
236.5
-.2
-.2
-1.6
.7
.4
-1.8
-1.5
35.1
33.8
34.2
35.3
36.9
39.1
40.9
Gross domestic product
of financial corporate
business
9.0
16.7
14.0
17.4
17.2
18.4
20.0
18.9
54.0
62.2
58.7
62.8
62.8
64.6
66.2
67.2
Gross domestic product
of nonfinancial
corporate business
-45.0
-45.5
-45.4
36.3
-45.6
-46.2
-46.3
-48.3
296.8
224.1
238.4
236.7
235.6
242.4
239.0
245.7
248.8
224.8
96.7
128.1
81.3
46.8
231.9
105.0
126.8
86.8
40.0
218.9
98.1
120.9
84.3
36.6
224.4
102.1
122.3
86.6
35.7
236.3
106.1
130.2
87.7
42.5
247.9
113.9
134.0
257.0
128.0
129.0
90.3
38.7
268.7
134.2
134.5
92.4
42.1
53.5
46.0
51.3
46.7
315.3
326.1
326.6
328.7
44.0
42.1
Corporate profits after tax
with inventory valuation
and capital consumption
adjustments
Net cash flow with
inventory valuation and
capital consumption
adjustments
Undistributed profits with
inventory valuation and
capital consumption
adjustments
Capital consumption
allowances with capital
consumption
adjustment
Less: Inventory valuation
adjustment
Equals: Net cash flow
Net domestic product
Indirect business tax and .
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of employees...
Wages and salaries
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits...
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
29.7
Inventory valuation
adjustment
Capital consumption
adjustment
Gross domestic product
of corporate business
Capital consumption allowances
with capital consumption
adjustment
257.3
Corporate profits with
inventory valuation and
capital consumption
adjustments
III
IV
I
IF
Billions of dollars
I
National income
Wages and salaries
Government and
government enterprises
Other
II
I
Seasonally adjusted at annual rates
1987
1986
1986
48.0
Capital consumption allowances
with capital consumption
adjustment
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
Compensation of employees...
Wages and salaries
Supplements to wages
and salaries
Corporate profits with
inventory valuation and
capital consumption
adjustments
Profits before tax
Profits tax liability
Profits after tax
Dividends
Undistributed profits...
Inventory valuation
adjustment
Capital consumption
adjustment
Net interest
2,422.7 2,539.1 2,510.7 2,520.8 2,552.7 2,572.0 2,613.7 2,646.8
269.1
282.8
276.8
280.9
284.3
289.3
291.8
294.5
2,153.6 2,256.2 2,233.9 2,240.0 2,268.4 2,282.7 2,321.9 2,352.3
232.0 242.2 241.9 235.3 246.6 244.8 248.0 253.9
1,921.6 2,014.1 1,992.1 2,004.6 2,021.8 2,037.9 2,073.9 2,098.4
1,605.6 1,689.1 1,666.7 1,678.9 1,695.4 1,715.3 1,741.1 1,760.7
1,343.3 1,414.4 1,395.4 1,405.7 1,419.6 1,437.1 1,463.1 1,480.2
262.3
274.7
271.4
273.2
275.9
278.2
278.1
280.6
247.1
194.3
96.7
97.6
69.0
28.6
253.2
200.7
105.0
95.6
71.5
24.1
253.6
184.6
98.1
86.5
68.5
18.0
253.6
195.7
102.1
93.6
74.5
19.1
254.3
204.2
106.1
98.1
70.9
27.2
251.4
218.2
113.9
104.3
72.0
32.3
261.3
224.4
128.0
96.4
80.2
16.2
263.8
235.7
134.2
101.5
84.1
17.5
-.7
6.5
17.8
11.3
6.0
-8.9
-11.3
-20.0
53.5
68.9
46.0
71.8
51.3
71.7
46.7
72.2
44.0
72.0
42.1
71.1
48.2
71.5
48.0
73.9
139.9
163.0
157.5
162.2
165.0
167.3
178.9
181.4
2,282.8 2,376.1 2,353.3 2,358.6 2,387.7 2,404.7 2,434.8 2,465.4
252.8
264.4
259.4
262.9
265.6
269.6
271.8
274.3
2,030.1 2,111.7 2,093.9 2,095.8 2,122.1 2,135.1 2,163.0 2,191.2
218.2 226.4 226.7 220.0 230.5 228.5 231.4 237.0
1,811.8 1,885 3 1,867.2 1,875.8 1,891.6 1,906.6 1,931.6 1,954.2
1,492.6 1,560.7 l!544^2 li55L8 1^564! 1 1',582.6 l,59SA l!615!l
1,248.7 1,306.4 1,292.5 1,298.9 1,309.0 1,325.2 1,342.5 1,357.1
243.9
254.2
251.6
252.9
255.1
257.3
256.0
258.0
227.7
175.9
69.9
106.0
70.9
35.1
225.8
174.6
78.3
96.3
74.1
22.2
225.7
158.4
71.2
87.2
69.8
17.4
225.0
168.7
74.9
93.9
76.6
17.3
227.7
179.0
79.8
99.3
74.6
24.7
224.6
192.1
87.2
104.9
75.6
29.2
233.4
196.9
99.8
97.1
82.4
14.7
235.9
207.9
105.3
102.6
86.3
16.4
-.7
6.5
17.8
11.3
6.0
-8.9
-11.3
-20.0
52.6
91.5
44.6
98.9
49.6
97.3
45.0
99.0
42.7
99.8
41.4
99.4
47.8
99.8
47.9
103.2
165.9
Billions of 1982 dollars
Gross domestic product
of nonfinancial
corporate business
368.7
99.6
92.6
93.6
269.1
282.8
276.8
280.9
-.7
369.4
6.5
368.9
17.8
364.6
11.3
363.3
92.6
78.5
75.6
70.1
284.3
378.7
384.6
Capital consumption allowances
with capital consumption
adjustment
Net domestic product
Indirect business tax and
nontax liability plus
business transfer payments
less subsidies
Domestic income
&
2,127.1 2,182.2 2,176.7 2,171.9 2,180.8 2,199.3 2,207.6 2,219.9
249.6 259.8 255.9 258.4 261.0 263.9 266.2 267.9
1,877.5 1,922.4 1,920.8 1,913.6 1,919.8 1,935.3 1,941.4 1,952.0
191.5 200 3 195.0
198.6 204.0 203.4 200 5 202.5
1,686.0 l,722'l 1.725J 1.7149 1,715"8 1.73L9 1,740^9 1,749.5
SURVEY OF CURRENT BUSINESS
September 1987
Table 1.17.—Auto Output
Table 1.11.—Command-Basis Gross National Product in Constant
Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
III
II
IV
Auto output
Less: Net exports of goods and
services
Exports
Imports
-108.2 -145.8 -123.0 -146.8 -161.6 -151.8 -135.2 -132.7
388.3 397.8 414.5
365.3 377.4 371.5 370.2 379.6
473.6 523.2 494.4 517.0 541.2 540.1 533.0 547.2
Equals: Gross domestic
purchases
3,715.7 3,859.1 3,821.7 3,851.5 3,879.6 3,883.3 3,907.4 3,927.9
Equals: Command-basis gross
national product
-99.2 -110.4 -122.8 -126.3 -117.4 -121.1
406.6
517.0
418.4
541.2
413.9
540.1
415.6
533.0
426.1
547.2
3 632 1 3 744 4 3 722 5 3 741 1 3 756.8 3,757.0 3,790.0 3,806.8
Addendum:
Terms of trade
2
106.9
108.3
106.5
109.9
110.2
106.6
1987
III
II
IV
IF
I
IF
I
3,607.5 3,713.3 3,698.8 3,704.7 3,718.0 3,731.5 3,772.2 3,795.3
395.2
494.4
1986
I
Gross national product
Plusr^Command-basis net
exports of goods and services.... -83.5 -114.6
Command-basis
exports l
390.0 408.6
Imports
473.6 523.2
1986
1987
1986
I
1985
104.5
102.9
1. Exports of goods and services deflated by the implicit price deflator for imports of goods and
services.
2. Ratio of the implicit price deflator for exports of goods and services to the implicit price
deflator for imports of goods and services with the decimal point shifted two places to the right.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
115.3
119.4
116.2
118.9
118.1
124.6
114.9
109.7
Final sales
110.5
Personal consumption
expenditures
121.3
New autos
86.9
Net purchases of used autos..
34.5
Producers' durable equipment..
17.9
New autos
44.0
Net purchases of used autos.. -26.1
Net exports of goods and
services
-30.0
Exports
6.1
Imports
36.1
Government purchases of
goods and services
1.4
118.5
110.8
110.7
131.6
121.0
95.6
104.8
135.3
101.5
33.8
20.7
45.8
-25.1
122.4
89.6
32.8
19.2
42.6
-23.4
126.2
93.0
33.2
20.1
46.1
-26.0
151.3
118.2
33.1
22.5
49.0
-26.5
141.3
105.3
36.0
21.0
45.5
-24.5
117.5
83.8
33.7
15.8
40.6
-24.7
125.1
89.3
35.8
17.6
44.5
-26.8
-38.9
6.3
45.2
-32.6
6.6
39.1
-36.9
6.6
43.5
-43.4
6.1
49.5
-42.6
6.1
48.7
-39.2
5.8
45.0
-39.5
7.2
46.6
1.4
1.7
1.3
1.2
1.4
1.4
1.6
4.7
4.1
.6
.9
.7
.2
5.4
6.6
-1.2
8.2
6.9
1.4
-13.6
-16.5
3.0
3.6
6.0
-2.4
19.3
20.0
-.7
4.9
4.4
.5
96.0
45.1
98.2
55.8
96.7
49.3
98.3
51.5
96.7
60.0
101.1
62.3
99.3
46.7
93.4
50.0
Change in business inventories
of new and used autos
New
Used
Addenda:
Domestic output of new
autos 1
Sales of imported new autos 2 ...
1. Consists of final sales and change in business inventories of new autos assembled in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
Table 1.19.—Truck Output
Table 1.18.—Auto Output in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
I
Truck output
l
Final sales
Personal consumption
expenditures
Producers' durable equipment..
Net exports of goods and
services
Exports
Imports
Government purchases of
goods and services
Change in business inventories...
IV
III
II
Seasonally adjusted at annual rates
1987
1986
1986
I
1985
IF
III
56.2
58.4
56.7
59.7
58.9
58.3
61.4
61.3
56.1
58.3
52.4
58.3
64.4
58.0
55.7
61.5
23.9
33.0
27.6
32.4
23.2
31.2
26.9
33.0
33.3
34.1
26.9
31.4
27.0
32.1
29.9
34.9
-6.7
2.7
9.4
-7.4
3.0
10.3
-7.6
2.8
10.3
-7.3
3.2
10.5
-8.7
2.7
11.4
-5.9
3.2
9.1
-8.0
3.0
11.0
-7.8
3.2
11.0
5.9
5.7
5.7
5.7
5.7
5.7
4.6
4.5
.1
.1
4.3
1.3
-5.5
.3
5.7
-.1
1. Includes new trucks only.
Table 1.20.—Truck Output in Constant Dollars
Seasonally adjusted at annual rates
1985
Truck output '
Change in business inventories...
1. Includes new trucks only.
1986
II
III
I
IV
IV
97.0
105.6
106.4
106.0
106.7
103.1
101.8
107.3
102.0
100.9
118.4
107.8
85.9
93.4
109.4
80.7
28.7
18.8
38.4
-19.6
111.8
82.4
29.3
18.4
40.9
-22.5
132.7
103.4
29.4
19.5
42.9
-23.4
122.6
90.6
32.0
17.3
39.1
-21.8
101.7
72.0
29.7
13.0
34.9
-21.8
106.2
76.3
29.9
15.2
38.0
-22.8
-31.6
5.4
37.1
-27.8
5.8
33.6
-30.5
5.7
36.1
-34.9
5.2
40.1
-33.3
5.1
38.4
4.9
34.9
-29.5
5.9
35.4
-1.1
.2
4.0
5.0
-1.0
-15.4
-18.0
2.7
1.8
4.0
-2.1
16.3
17.0
-.7
3.6
3.2
.5
85.3
49.1
44.4
81.7
52.5
53.7
85.8
40.1
79.7
42.7
108.8
79.8
29.0
19.2
40.4
-21.2
-27.5
5.4
32.9
29.8
18.5
40.3
102.3
Addenda:
1987
1986
I
Auto output..
Final sales
Personal consumption
expenditures
New autos
Net purchases of used autos.
Producers' durable equipment.
New autos
Net purchases of used autos.
Net exports of goods and
services
Exports
Imports
Government purchases of
goods and services
Change in business inventories
of new and used autos
New
Used
[Billions of 1982 dollars]
Final sales
Personal consumption
expenditures
Producers' durable equipment..
Net exports of goods and
services
Exports
Imports
Government purchases of
goods and services
1987
1986
1986
IF
50.8
50.5
49.7
51.8
50.7
49.6
52.4
52.4
50.7
50.4
46.1
50.6
55.4
49.4
47.6
52.5
21.6
29.8
23.8
28.0
20.4
27.3
23.4
28.7
28.5
29.4
23.0
26.7
23.0
27.5
25.5
29.9
60
2.5
8.5
64
2.6
8.9
-67
2.4
9.1
-6.4
2.8
9.1
-7.4
2.3
9.8
-5.1
2.7
7.7
-6.8
2.6
9.4
-6.6
2.7
9.4
5.3
4.9
5.0
4.9
4.9
4.8
3.9
3.8
3.7
1.1
-4.7
.2
4.8
-.1
Domestic output of new
autos 1
Sales of imported new autos 2 ..
87.7
41.4
45.7
1. Consists of final sales and change in business inventories of new autos assembled in the
United States.
2. Consists of personal consumption expenditures, producers' durable equipment, and government purchases.
SURVEY OF CURRENT BUSINESS
10
September 1987
Table 2.2.—Personal Consumption Expenditures by Major Type of
Product
Table 2.1.—Personal Income and Its Disposition
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
III
II
Seasonally adjusted at annual rates
1987
1986
I
I
IV
1985
IV
1986
1987
1986
III
Personal income
Wage and salary
disbursements
Commodity-producing
industries
Manufacturing
Distributive industries
Service industries
Government and
government enterprises
3,327.0 3,534.3 3,463.4 3,526.6 3,553.6 3,593.6 3,662.0 3,708.6
1,974.9 2,089.1 2,055.3 2,074.6 2,097.9 2,128.5 2,163.3 2,191.4
609.2
460.9
473.0
520.4
623.3
470.5
497.1
573.9
620.8
469.0
491.4
557.0
621.2
468.7
493.7
568.1
622.8
470.0
498.6
578.8
628.4
474.5
504.7
591.6
632.9
477.2
511.5
606.7
635.0
479.0
518.9
619.3
372.3
394.8
386.1
391.6
397.7
403.8
412.2
418.1
192.3
201.1
197.8
199.8
202.3
204.4
206.7
209.5
Proprietors' income with
inventory valuation and
capital consumption
adjustments
257.3
289.8
270.8
298.1
292.5
297.8
320.9
323.1
29.7
227.6
37.2
252.6
28.0
242.8
48.1
250.1
36.3
256.2
36.6
261.2
51.3
269.7
47.3
275.8
Rental income of persons
with capital consumption
adjustment
Personal dividend income
Personal interest income
Transfer payments
9.0
76.3
476.5
489.7
16.7
81.2
497.6
518.3
14.0
78.8
495.7
508.6
17.4
81.0
500.0
514.5
17.2
82.1
498.1
523.6
18.4
82.9
496.8
526.6
20.0
84.5
499.8
533.7
18.9
86.3
506.3
541.5
253.4
269.2
264.5
266.4
272.4
273.5
278.0
282.3
15.7
16.7
16.4
16.8
15.6
17.0
16.3
16.9
17.1
16.7
16.6
16.4
15.6
16.6
14.9
16.7
67.4
136.5
71.0
145.0
69.7
141.8
70.6
144.3
71.5
146.0
72.4
147.7
73.9
149.6
76.0
151.5
15.4
121.1
16.2
128.7
16.0
125.9
16.2
128.0
16.4
129.6
16.4
131.3
16.5
133.1
16.7
134.7
Less: Personal contributions
for social insurance
148.9
159.6
157.6
158.8
160.1
161.8
166.7
168.4
Less: Personal tax and nontax
payments
485.9
512.2
497.4
504.2
515.3
532.0
536.1
578.0
Old-age, survivors,
disability, and health
insurance benefits
Government unemployment
insurance benefits
Veterans benefits
Government employees
retirement benefits
Other transfer payments
Aid to families with
dependent children
Other
Equals: Disposable personal
2,841.1 3,022.1 2,966.0 3,022.4 3,038.2 3,061.6 3,125.9 3,130.6
Less: Personal outlays
Personal consumption
expenditures
Interest paid by consumers to
business
Personal transfer payments to
foreigners (net)
Equals: Personal saving
2,714.1 2,891.5 2,827.6 2,856.4 2,929.4 2,952.6 2,987.5 3,037.4
2,629.4 2,799.8 2,737.9 2,765.8 2,837.1 2,858.6 2,893.8 2,943.7
82.7
89.9
87.9
89.0
90.7
92.1
92.1
92.6
2.0
1.7
1.7
1.6
1.6
1.9
1.7
1.2
127.1
130.6
138.4
166.0
108.9
109.0
138.4
93.2
Addenda:
Disposable personal income:
Total, billions of 1982
dollars
Per capita:
Current dollars
1982 dollars
Population (mid-period,
millions)
Personal saving as
percentage of disposable
personal income
2,542.2 2,645.1 2,610.5 2,660.2 2,653.2 2,656.7 2,674.6 2,645.5
12,865
11,008
12,858
10,865
242.5
243.0
243.5
3.6
4.4
3.0
12,525 12,560 12,626
11,024 10,968 10,956
11,872
10,622
12,508
10,947
12,318
10,842
239.3
241.6
240.8
241.3
241.9
4.5
4 i
4.7
5.5
3.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Personal consumption
expenditures
Durable goods
Other labor income
Farm
Nonfarm
IV
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
Medical care
Other
2,629.4 2,799.8 2,737.9 2,765.8 2,837.1 2,858.6 2,893.8 2,943.7
368.7
402.4
375.9
386.4
427.6
419.8
396.1
177.6
194.9
177.4
184.2
217.0
201.2
177.6
189.6
128.7
62.4
139.9
67.6
134.7
63.8
138.3
64.0
142.9
67.8
143.8
74.8
146.0
72.5
146.0
73.5
913.1
939.4
936.8
934.3
940.0
946.3
969.9
982.1
472.8
157.2
92.6
190.5
17.5
173.0
497.8
167.5
75.3
198.8
16.0
182.8
489.4
163.4
87.7
196.3
17.4
178.9
494.7
167.2
74.4
198.0
16.0
182.1
499.6
169.8
70.6
200.0
15.5
184.5
507.5
169.6
68.4
200.8
15.1
185.7
514.8
174.0
75.8
205.3
15.4
189.8
515.0
175.8
80.6
210.7
16.1
194.6
409.0
1,347.5 1,458.0 1,425.2 1,445.1 1,469.5 1,492.4 1,527.7 1,552.6
402.4
174.7
88.9
85.8
88.6
291.5
390.4
436.9
178.6
87.6
91.0
95.1
319.8
427.7
424.1
175.4
86.3
89.1
93.5
310.0
422.2
433.4
177.8
87.0
90.8
93.9
315.8
424.1
440.9
181.5
89.6
91.9
95.5
323.1
428.5
449.0
179.8
87.5
92.3
97.6
330.1
435.8
456.3
176.6
84.8
91.8
102.1
338.5
454.3
464.1
179.6
85.8
93.8
103.7
346.8
458.5
Table 2.3.—Personal Consumption Expenditures by Major Type of
Product in Constant Dollars
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1987
1986
III
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
Medical care
Other
2,352.6 2,450.5 2,409.7 2,434.3 2,477.5 2,480.5 2,475.9 2,487.5
352.7
383.5
359.8
369.6
405.5
399.0
375.9
385.4
163.6
175.7
162.3
167.0
194.3
179.1
158.1
166.4
130.2
58.9
144.7
63.1
137.5
60.0
142.5
60.1
148.3
63.0
150.7
69.3
151.5
66.4
152.5
66.5
849.5
877.2
868.8
880.0
883.2
879.0
436.5
147.9
96.5
168.6
18.9
149.7
444.9
158.0
100.3
174.1
21.5
152.6
445.9
154.3
97.4
171.1
19.8
151.3
447.3
159.0
99.6
174.1
21.2
152.9
442.2
160.4
101.5
175.7
22.5
153.2
444.0
158.4
102.5
175.4
22.3
153.1
447.5
441.6
157.3
102.1
178.1
21.4
156.6
175.5
21.0
154.5
1,150.4 1,189.8 1,181.2 1,184.7 1,192.2 1,201.1 1,216.9 1,223.1
341.0
151.0
77.4
73.6
81.0
240.8
336.6
350.0
151.3
76.8
74.5
84.4
251.9
352.3
346.7
149.3
75.0
74.3
83.3
248.5
353.4
349.0
150.1
75.7
74.4
83.7
250.4
351.5
351.1
152.9
78.4
74.5
85.2
252.4
350.7
353.1
152.8
78.2
74.6
85.5
256.3
353.6
355.3
150.0
75.8
74.2
86.9
258.7
366.0
357.7
151.4
76.1
75.3
87.5
262.0
364.5
11
SURVEY OF CURRENT BUSINESS
September 1987
Table 3.2.—Federal Government Receipts and Expenditures
Table 3.3.—State and Local Government Receipts and Expenditures
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
1985
1986
III
879.3
922.9
363.0
355.2
7.1
.7
352.8
345.6
6.5
.7
357.6
349.6
7.4
.6
357.0
7.5
.6
368.5
7.0
.9
373.6
7.2
.7
406.8
8.0
.9
Corporate profits tax accruals
Federal Reserve banks
Other
76.1
17.8
58.3
83.7
17.8
65.9
78.7
18.7
60.0
81.3
17.9
63.4
84.3
17.3
67.0
90.5
17.2
73.3
103.0
16.6
86.3
107.9
17.1
90.8
Indirect business tax and
nontax accruals 2
Excise taxes
Customs duties
Nontaxes
55.2
34.7
12.2
50.9
31.2
13.7
6.0
50.4
31.5
13.0
5.9
49.9
30.9
13.4
5.6
52.1
31.2
14.2
6.7
51.1
31.3
14.0
5.8
53.3
32.1
15.2
6.0
54.2
32.4
15.7
6.1
310.6
329.8
325.8
328.1
330.7
334.5
341.5
345.2
Expenditures
984.6 1,032.0 1,003.7 1,047.1 1,036.1 1,041.2 1,049.8 1,062.1
Purchases of goods and services...
National defense
Nondefense
353.9
259.3
94.6
Transfer payments
To persons
To foreigners
380.1
366.7
13.4
Grants-in-aid to State and local
governments
Net interest paid
Interest paid
To persons and business
To foreigners
Less: Interest received by
government
Subsidies less current surplus of
government enterprises
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
366.2
277.8
88.4
399.9
385.9
14.0
356.7
266.6
90.1
368.4
278.2
90.2
371.2
287.6
83.6
368.6
279.0
89.6
366.9
287.5
79.4
379.6
294.5
85.1
389.9
379.5
10.4
398.3
383.1
15.1
405.9
390.1
15.8
405.7
391.0
14.7
406.7
396.0
10.7
412.0
401.5
10.5
Income taxes
Nontaxes
Other
Corporate profits tax accruals
Indirect business tax and
nontax accruals
Sales taxes
Property taxes
Other
99.7
106.9
105.4
109.6
109.5
102.8
130.2
152.0
130.7
21.3
135.7
157.8
135.2
22.6
134.9
158.2
135.7
22.5
135.9
158.2
136.0
22.2
134.2
157.5
134.8
22.8
137.8
157.4
134.4
22.9
106.0
139.5
158.2
135.1
23.1
139.8
158.1
133.6
24.5
22.1
23.3
22.3
23.3
19.6
18.7
20.5
22.2
23.3
25.5
16.8
18.8
34.9
37.6
15.3
26.3
24.5
34.3
38.7
24.8
27.5
1.7
2.2
2.1
2.8
-1.8
4.3
2.6
0
0
0
0
0
-.2
0
-196.1
-188.7 -170.5 -139.2
9.4
13.0
16.7
15.4
15.7
16.1
20.1
-205.4 -220.0 -211.8 -246.3 -216.7 -205.4 -190.6
19.3
IV
I
IV
579.6
618.8
608.1
611.5
626.2
629.1
632.1
651.3
139.3
149.3
144.7
146.6
150.1
155.6
154.6
162.3
71.9
55.6
11.7
76.3
60.3
12.6
73.9
58.5
12.2
74.3
59.8
12.5
76.5
60.9
12.7
80.5
62.1
13.0
77.9
63.4
13.3
84.1
64.7
13.6
20.6
21.3
19.4
20.7
21.8
23.4
25.0
26.4
277.9
296.8
295.2
290.8
300.6
300.7
305.0
311.0
130.9
107.1
40.0
139.8
114.6
42.4
135.2
111.8
48.3
137.6
113.7
39.5
142.6
115.6
42.4
143.8
117.5
39.4
145.3
119.4
40.3
148.9
121.5
40.6
42.1
44.5
43.5
43.8
44.2
46.5
45.2
45.7
Federal grants-in-aid
99.7
106.9
105.4
109.6
109.5
102.8
102.2
106.0
516.5
561.9
546.1
556.4
566.7
578.5
591.1
600.7
464.7
503.5
490.2
498.8
507.3
517.7
529.3
537.6
278.3
186.4
299.9
203.6
291.1
199.1
296.7
202.1
302.3
205.1
309.8
207.9
314.1
215.1
319.8
217.8
Expenditures
Purchases of goods and services...
Compensation of employees
Other
Transfer payments to persons
101.5
110.1
107.1
109.1
111.2
113.0
114.9
116.9
-30.4
-31.5
-31.2
-31.5
-31.6
-31.9
-32.2
-32.7
Interest paid
Less: Interest received by
government
42.4
48.0
46.0
47.3
48.7
50.0
51.4
52.9
72.9
79.5
77.1
78.8
80.3
81.9
83.7
85.6
Less: Dividends received by
government
5.0
5.6
5.5
5.5
5.6
5.7
5.9
6.2
-14.2
-14.6
-14.5
-14.5
-14.6
-14.7
-15.0
-14.9
Subsidies less current surplus of
government enterprises
21.8
III
Contributions for social
insurance
Net interest paid
Surplus or deficit ( - ) ,
national income and
product accounts
Social insurance funds
Other
Receipts
Personal tax and nontax
receipts
1987
1986
II
I
346.6
339.5
6.5
.7
Contributions for social
insurance
1986
IV
Receipts
Personal tax and nontax
receipts x
Income taxes
Estate and gift taxes
Nontaxes
1985
1987
1986
Subsidies
Less: Current surplus of
government enterprises
Less: Wage accruals less
disbursements
Surplus or deficit (—),
national income and
product accounts
Social insurance funds
Other
.7
.8
.8
.8
.8
.9
.9
.9
14.9
15.4
15.3
15.3
15.4
15.5
15.9
15.8
0
0
0
0
0
0
0
0
63.1
56.8
62.1
55.1
59.6
50.6
41.0
50.6
47.1
16.0
49.4
7.4
48.5
13.6
48.8
6.4
49.1
10.5
51.3
-.7
50.2
-9.1
51.0
-.4
Table 3.7B.—Government Purchases of Goods and Services by Type
Table 3.8B.—Government Purchases of Goods and Services by Type in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally a djusted at annu al rates
Seasonally adjusted at annual rates
1985
I
Government purchases of
goods and services
Federal
National defense
Durable goods
Nondurable goods
Services
Compensation of
employees
Military
Civilian
Other services
Structures . . .
Nondefense
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory
change
Other nondurables
Services
Compensation of
employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees...
Other services
Structures
II
1985
1987
1986
1986
III
IV
I
1986
IF
818.6
869.7
846.9
867.2
878.5
886.3
896.2
917.1
353.9
366.2
356.7
368.4
371.2
368.6
366.9
379.6
259.3
75.9
11.9
165.5
277.8
83.9
11.1
176.2
266.6
75.9
12.3
172.4
278.2
84.2
11.5
176.2
287.6
89.7
10.6
179.9
279.0
85.9
9.9
176.3
287.5
88.0
9.7
182.5
294.5
89.2
10.5
188.0
101.2
67 7
33.5
64.3
6.1
104.3
70 4
33.8
71.9
6.6
103.7
69 9
33.7
68.8
6.0
104.1
70 3
33.8
72.1
6.2
104.4
70 5
33.9
75.5
7.3
105.0
710
34.0
71.3
7.0
107.7
72 7
35.0
74.8
7.2
108.6
73 0
35.5
79.5
6.8
94.6
3.9
17.5
88.4
4.1
11.2
90.1
4.3
12.6
90.2
4.2
12.4
83.6
4.0
6.9
89.6
4.0
13.1
79.4
4.2
2.0
85.1
4.8
1.5
11.2
6.3
66.2
5.3
5.9
66.3
6.8
5.8
66.1
6.1
6.3
66.8
1.1
5.8
66.3
7.3
5.8
66.1
-3.6
5.6
66.3
-5.1
6.6
70.8
39.3
26 8
7.0
39.6
26 7
6.7
39.5
26 6
7.1
39.6
27.2
6.8
39.6
26.6
6.5
39.8
26.3
6.5
41.0
25.2
7.0
41.6
29.1
8.0
464.7
503.5
490.2
498.8
507.3
517.7
529.3
537.6
21.9
40.1
349.1
278.3
70.8
53.6
24.6
39.1
378.5
299.9
78.5
61.4
23.5
40.2
366.9
291.1
75.8
59.6
24.2
38.3
374.3
296.7
77.6
62.0
24.9
38.2
381.7
302.3
79.5
62.5
25.7
39.5
391.0
309.8
81.2
61.5
26.3
41.6
397.2
314.1
83.1
64.1
27.0
43.1
404.8
319.8
85.0
62.7
Government purchases of
goods and services
Federal
National defense
Durable goods
Nondurable goods
Services....
Compensation of
employees
Military
Civilian
Other services
Structures
Nondefense..
Durable goods
Nondurable goods
Commodity Credit
Corporation inventory
change
Other nondurables
Services
Compensation of
employees
Other services
Structures
State and local
Durable goods
Nondurable goods
Services
Compensation of employees..
Other services
Structures
1987
1986
I
II
III
IV
I
II r
726.9
754.5
737.6
751.6
757.2
771.8
759.6
766.7
324.2
332.5
322.1
330.6
332.6
344.6
327.3
332.6
236.7
71.3
13.3
146.6
250.7
77.9
15.1
152.0
240.0
70.9
14.2
149.8
250.1
77.4
15.1
152.3
259.8
82.8
15.9
154.9
252.7
80.3
15.3
151.3
257.4
83.7
14.0
153.6
263.5
86.4
14.5
157.0
88.3
59.4
29.0
58.3
5.6
88.8
59.9
28.9
63.2
5.6
88.7
59.8
28.9
61.0
5.2
88.6
59.8
28.9
63.7
5.3
88.7
59.9
28.9
66.1
6.2
89.2
60.3
28.9
62.1
5.9
89.0
60.3
28.8
64.6
6.1
89.0
60.1
28.9
68.0
5.7
87.5
4.3
18.4
81.8
4.6
13.6
82.0
4.8
13.2
80.4
4.7
11.5
72.8
4.5
5.0
91.9
4.5
24.6
69.9
4.8
3.1
69.1
5.3
-2.5
12.2
6.2
58.3
7.8
5.8
57.5
7.4
5.8
57.6
5.5
6.0
58.0
-.7
5.6
57.4
18.8
5.8
57.0
-2.5
5.6
55.8
-9.1
6.6
59.3
34.0
24.3
6.5
33.8
23 7
6.1
33.8
23.8
6.5
33.8
24.2
6.2
33.8
23.6
5.9
33 8
23.1
5.9
33.7
22.1
6.3
33.8
25.4
7.1
402.7
422.1
415.5
421.0
424.6
427.1
432.3
434.1
20.6
40.5
293.3
232.9
60.4
48.3
22.7
43.3
301.7
237.1
64.6
54.4
21.9
42.2
298.6
235.6
63.0
52.9
22.5
42.9
300.7
236.6
64.1
54.9
23.0
43.6
302.8
237.7
65.2
55.2
23.5
44.4
304.8
238.6
66.2
54.5
24.0
45.1
306.5
239.3
67.2
56.7
24.6
45.8
308.4
240.2
68.2
55.3
SURVEY OF CURRENT BUSINESS
12
September 1987
Table 3.10.—National Defense Purchases of Goods and Services in
Constant Dollars
Table 3.9.—National Defense Purchases of Goods and Services
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of employees....
Military
Civilian
Other services
Contractual research and
development
Installation support 1
Weapons support 2
Personnel support 3
Transportation of materiel.
Travel of persons
Other
Structures
Military facilities..
Other
1986
1987
in
National defense
purchases
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
1986
IV
III
Durable goods
Seasonally adjusted at annual rates
1987
1986
266.6
278.2
279.0
75.9
83.9
75.9
84.2
89.7
85.9
88.0
89.2
63.9
25.7
9.9
8.5
4.8
4.9
10.1
11.9
71.6
32.4
12.1
8.7
4.8
5.1
8.4
12.4
64.0
27.9
10.4
8.1
4.5
4.7
8.5
11.9
71.7
31.6
12.2
9.1
4.9
5.1
8.7
12.6
77.1
34.3
13.8
9.2
4.7
5.2
10.0
12.6
73.4'
36.0
12.1
8.4
5.1
5.4
6.5
12.4
76.4
33.1
12.6
8.5
5.0
5.6
11.5
11.6
77.0
31.6
14.5
9.3
4.7
5.7
11.2
12.1
11.9
11.1
12.3
11.5
9.7
10.5
6.5
3.0
2.4
4.3
4.3
2.5
6.4
3.6
2.3
4.1
4.8
2.6
3.5
4.6
2.5
3.3
4.1
2.5
3.4
3.9
2.4
4.1
2.6
165.5
176.2
176.2
179.9
176.3
182.5
188.0
101.2
67.7
33.5
64.3
104.3
70.4
33.8
71.9
103.7
69.9
33.7
104.1
70.3
33.8
72.1
104.4
70.5
33.9
75.5
105.0
71.0
34.0
71.3
107.7
72.7
35.0
74.8
108.6
73.0
35.5
79.5
26.3
16.8
7.6
6.7
3.4
3.2
.2
29.3
18.6
7.7
9.5
3.3
3.3
.2
27.1
18.0
7.7
8.9
3.3
3.3
.5-
29.6
18.4
7.8
9.2
3.2
3.5
.4
30.7
19.8
7.7
11.0
3.3
3.1
-.3
29.6
18.3
7.8
8.9
3.5
3.2
.1
29.3
20.3
8.7
9.2
3.7
3.4
.3
30.0
21.8
9.4
10.3
4.0
3.7
.2
6.1
6.6
6.0
6.2
7.3
7.0
7.2
6.8
3.5
2.6
4.2
2.5
3.6
2.4
3.8
2.5
4.9
2.4
4.3
2.6
4.4
2.8
4.5
2.3
IV
National defense
purchases
Durable goods
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
71.3
77.9
70.9
77.4
82.8
80.3
83.7
86.4
58.4
21.8
9.2
7.5
5.4
4.6
9.8
12.9
63.8
26.8
11.3
7.6
5.2
4.8
8.2
14.0
57.4
22.7
9.7
7.0
5.0
4.4
8.6
13.5
63.2
25.0
11.7
7.9
5.3
4.8
8.6
•14.2
68.5
28.5
12.4
8.0
5.0
4.9
9.6
14.4
66.2
30.9
11.5
7.3
5.3
5.1
6.1
14.1
69.4
28.4
11.4
7.4
5.3
5.3
11.6
14.3
71.3
28.1
13.7
8.1
5.1
5.3
10.9
15.0
13.3
15.1
14.2
15.1
15.9
15.3
14.0
14.5
8.2
2.9
2.3
8.5
4.3
2.3
8.2
3.8
2.2
7.9
4.7
2.4
8.9
4.6
2.4
8.9
4.0
2.3
8.0
3.8
2.2
8.1
4.0
2.4
149.8
152.3
154.9
151.3
153.6
157.0
88.6
59.8
28.9
63.7
88.7
59.9
28.9
66.1
89.2
60.3
28.9
62.1
89.0
60.3
28.8
64.6
89.0
60.1
28.9
68.0
27.1
16.6
26.0
15.3
6.8
7.0
3.8
3.1
.1
25.6
16.7
7.7
7.1
4.0
3.2
.2
26.2
17.8
8.3
8.0
4.0
3.6
.2
Services
Compensation of employees....
Military
Civilian
Other services
Contractual research and
development
Installation support l
Weapons support 2
Personnel support 3
Transportation of materiel.
Travel of persons
Other
Structures
Military facilities..
Other
59.4
29.0
58.3
59.9
28.9
63.2
88.7
59.8
28.9
61.0
23.6
14.6
6.7
6.0
3.9
3.2
.2
25.8
15.6
6.8
7.7
3.8
3.3
.2
24.0
15.2
6.8
7.4
3.9
3.3
.4
26.2
15.4
6.9
7.5
3.7
3.5
.4
5.6
5.6
5.2
5.3
5.9
6.1
5.7
3.2
2.3
3.4
2.2
3.0
2.2
3.1
2.:
3.6
2.3
3.6
2.4
3.6
2.0
3.8
3.1
-.2
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems, other than
research and development.
3. Includes compensation of foreign personnel, consulting, training, and education.
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
Table 4.1.—Foreign Transactions in the National Income and Product
Accounts
Table 4.2.—Exports and Imports of Goods and Services in Constant
Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1985
Seasonally adjusted at annual rates
1987
1986
1986
1986
IV
Receipts from foreigners...
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income l
Other
369.9
220.8
134.5
86.3
149.1
89.0
60.2
376.2
373.5
371.3
376.6
383.3
376.2
224.9
139.7
85.1
151.3
86.1
65.2
373.5
220.7
135.6
85.1
152.8
91.1
61.8
371.3
221.4
139.4
82.0
149.8
86.5
63.3
376.6
225.7
139.8
85.9
150.8
84.4
66.4
383.3
231.7
144.0
87.6
151.6
82.3
69.3
397.3
397.3
235.6
146.6
89.0
161.7
87.9
73.8
416.5
416.5
247.4
150.9
96.5
169.0
92.6
76.4
Capital grants received by the
United States (net)
369.9
376.2
373.5
371.3
376.6
383.3
397.3
416.5
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income '
Other
449.2
341.0
203.0
138.0
108.2
49.2
58.9
481.7
367.5
237.7
129.8
114.2
52.3
61.8
467.3
354.0
220.3
133.7
113.3
51.3
62.0
472.1
357.9
234.8
123.1
114.3
54.4
59.9
487.1
375.4
246.0
129.5
111.7
48.9
62.8
500.2
382.8
249.8
132.9
117.5
54.8
62.7
509.5
386.1
249.1
137.0
123.4
57.2
66.2
534.8
401.8
256.8
145.0
133.0
64.8
68.2
15.4
2.0
13.4
15.7
1.7
14.0
12.2
1.7
10.4
16.7
1.6
15.1
17.4
1.6
15.8
16.6
1.9
14.7
12.4
1.7
10.7
11.6
1.2
10.5
21.3
22.6
22.5
22.2
22.8
22.9
23.1
24.5
-115.9 -143.9
-128.5
-139.8
-150.7
-156.5 -147.7
-154.5
Interest paid by government to
foreigners
Net foreign investment
1. Line 7 less line 16 equals rest-of-the-world product as shown in table 1.7.
Exports of goods and services
397.8
414.5
Merchandise
Durable goods
Nondurable goods
231.1
142.2
88.9
244.6
153.1
91.5
235.7
147.1
88.6
238.1
151.3
86.8
248.1
154.2
93.9
256.7
159.8
96.9
258.7
161.7
96.9
270.5
166.9
103.6
Services
Factor income *
Other
134.3
79.2
55.0
132.8
74.5
58.2
135.8
79.8
56.0
132.1
75.2
56.9
131.5
72.6
58.9
131.7
70.7
61.0
139.2
74.7
64.5
144.0
77.9
66.1
Merchandise
Durable goods
Nondurable goods
370.2
219.2
150.9
420.2
248.1
172.1
390.5
235.5
154.9
413.4
246.6
166.8
441.1
254.6
186.6
435.7
255.7
179.9
425.2
253.5
171.7
432.8
258.3
174.5
Services
Factor income *
Other
103.4
43.3
60.1
103.0
44.8
58.2
104.0
44.4
59.6
103.6
46.8
56.8
100.1
41.5
58.6
104.5
46.5
58.0
107.8
48.1
59.7
114.4
54.0
60.4
370.2
Imports of goods and services
Payments to foreigners
Transfer payments (net)
From persons (net)
From government (net)
1987
III
1. Line 6 less line 13 equals rest-of-the-world product as shown in table 1.8.
SURVEY OF CURRENT BUSINESS
September 1987
13
Table 4.3.—Merchandise Exports and Imports by Type of Product and
by End-Use Category
Table 4.4.—Merchandise Exports and Imports by Type of Product and
by End-Use Category in Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
Seasonally adjusted at annual rates
III
IV
III
IV
Merchandise exports...
231.1
244.6
235.7
238.1
248.1
256.7
Foods, feeds, and beverages...
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except autos ...
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods l
Nondurable goods '
25.1
25.7
25.8
23.1
26.4
27.5
26.3
28.8
61.3
16.8
44.5
85.4
22.8
13.0
5.4
7.6
23.4
11.7
11.7
63.5
18.1
45.4
94.2
22.6
14.0
5.9
8.1
24.6
12.3
12.3
60.4
17.3
43.1
89.8
22.9
13.1
5.3
7.8
23.7
11.8
11.8
61.2
17.3
43.9
91.9
24.9
13.5
5.5
8.0
23.5
11.8
11.8
64.9
18.3
46.6
96.7
20.8
14.4
6.0
8.4
24.8
12.4
12.4
67.4
19.5
47.9
98.5
22.0
15.0
6.7
8.3
26.2
13.1
13.1
67.6
19.5
48.1
98.5
22.9
15.6
6.9
8.7
27.8
13.9
13.9
70.1
19.4
50.8
102.6
22.9
16.7
7.4
9.3
29.4
14.7
14.7
401.8
Merchandise imports..
370.2
420.2
390.5
413.4
441.1
435.7
425.2
432.8
24.4
Foods, feeds, and beverages...
Industrial supplies and
materials, excluding
petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos ...
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods J
Nondurable goods 1
21.8
22.9
22.7
21.9
23.8
23.0
23.2
24.2
67.7
33.5
34.2
59.6
78.3
60.8
65.4
38.3
27.1
16.6
8.3
8.3
72.8
38.0
34.8
74.3
93.3
66.3
74.1
42.2
31.8
16.7
71.2
36.8
34.3
59.5
87.4
62.8
70.2
40.2
30.0
16.7
8.4
8.4
71.9
38.5
33.4
72.4
92.0
65.6
73.1
42.3
30.8
16.6
8.3
8.3
72.9
37.6
35.3
86.7
96.1
69.5
75.9
43.2
32.7
16.2
8.1
8.1
75.1
38.9
36.2
78.5
97.6
67.3
77.1
43.3
33.7
17.2
8.6
8.6
74.9
38.6
36.3
69.5
96.8
67.2
75.3
41.7
33.6
18.2
9.1
9.1
71.0
36.4
34.6
72.1
103.8
67.6
77.2
42.0
35.2
16.9
8.5
8.5
31.2
Merchandise exports
220.8
224.9
225.7
231.7
Foods, feeds, and beverages
Industrial supplies and
materials
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods l
Nondurable goods *
24.0
22.6
24.0
21.2
22.4
22.7
21.5
23.4
58.7
16.1
42.6
76.4
25.0
13.0
5.1
7.9
23.7
11.9
11.8
58.1
16.6
41.6
79.8
25.4
14.5
5.7
8.8
24.4
12.2
12.2
57.2
16.4
40.8
76.7
25.5
13.4
5.1
8.3
23.9
11.9
11.9
56.3
15.9
40.4
78.5
27.9
14.0
5.3
8.7
23.6
11.8
11.8
58.6
16.5
42.1
81.8
23.5
15.0
5.8
9.1
24.4
12.2
12.2
60.5
17.5
43.0
82.3
24.9
15.6
6.5
9.1
25.7
12.9
12.9
62.1
17.9
44.1
82.1
25.9
16.4
6.8
9.6
27.6
13.8
13.8
66.2
18.3
47.9
84.5
26.2
17.6
7.3
10.4
29.5
14.8
14.8
Merchandise imports
341.0
367.5
354.0
357.9
375.4
382.8
386.1
Foods, feeds, and beverages
Industrial supplies and
materials, excluding
petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods l
Nondurable goods '
21.3
24.0
23.6
23.4
24.5
23.9
59.2
29.3
29.9
50.4
64.0
65.0
65.1
36.7
28.4
16.0
8.0
8.0
61.4
32.1
29.3
33.8
75.4
78.1
77.8
43.6
34.2
17.0
8.5
8.5
60.4
31.3
29.2
40.9
69.8
71.1
71.7
39.9
31.7
16.6
8.3
8.3
60.1
32.2
28.0
30.5
74.7
76.3
75.9
43.1
32.8
16.8
8.4
8.4
61.1
31.5
29.6
31.6
78.0
82.9
80.7
45.3
35.4
16.7
8.3
8.3
63.6
32.7
30.9
34.8
79.2
82.4
82.9
45.2
37.7
19.2
9.6
9.6
62.3
31.8
30.5
40.0
85.1
84.3
87.5
46.5
41.1
18.3
9.1
9.1
64.1
33.5
30.6
32.0
79.3
82.0
82.9
46.1
36.9
18.0
9.0
9.0
1987
1986
1987
1986
Addenda:
Addenda:
Exports of agricultural
products 2
Exports of nonagricultural
products
Imports of nonpetroleum
products
29.6
27.0
28.2
25.3
26.6
28.1
191.2
197.9
192.5
196.2
199.2
203.6
290.6
333.7
343.8
350.7
28.7
26.2
Exports of agricultural
products 2
Exports of nonagricultural
products
Imports of nonpetroleum
products
30.4
30.3
29.5
27.0
30.8
33.7
200.7
214.4
206.2
211.1
217.3
222.9
310.6
345.9
331.0
341.0
354.5
357.2
34.1
236.4
355.7
360.7
1. Because
to distribute
distribute exports
exports and
and imports
1.
Because no
no data
data are
are available
available to
lmpoi of "other" merchandise
between durable and nondurable goods, they are distributed equally.
2. Includes parts of line 2 and line 5.
1. Because no data are available to distribute exports and imports of "other" merchandise
between durable and nondurable goods, they are distributed equally.
2. Includes parts of line 2 and line 5.
Table 5.1.—Gross Saving and Investment
Table 6.3B.—National Income Without Capital Consumption
Adjustment by Industry
[Billions of dollars]
[Billions of dollars]
Seasonally adjusted at annual rates
1985
1986
I
III
II
Seasonallj adjusted at annual rat(
1987
1986
IV
I
1985
IF
1986
Gross saving
Gross private saving
Personal saving
Undistributed corporate
profits with inventory
valuation and capital
consumption adjustments
Undistributed profits
Inventory valuation
adjustment
Capital consumption
adjustment
Corporate capital
consumption allowances
with capital consumption
adjustment
Noncorporate capital
consumption allowances
with capital consumption
adjustment
Wage accruals less
disbursements
Government surplus or deficit
( - ), national income and
product accounts
Federal
State and local
531.3
532.0
557.8
538.7
516.2
515.3
554.3
551.3
664.2
127.1
679.8
130.6
691.8
138.4
713.7
166.0
660.4
108.9
653.4
109.0
683.8
138.4
639.9
93.2
99.6
46.8
92.6
40.0
78.5
45.4
75.6
38.7
70.1
42.1
6.5
17.8
11.3
6.0
-8.9
-11.3
-20.0
46.0
51.3
46.7
44.0
42.1
48.2
48.0
269.1
282.8
276.8
280.9
284.3
289.3
291.8
294.5
168.5
173.8
171.0
173.2
174.6
176.6
178.0
182.1
0
0
0
0
0
0
0
0
-132.9 -147.8 -134.0 -175.0 -144.1 -138.1 -129.5 -88.6
-196.0 -204.7 -196.1 -230.2 -203.7 -188.7 -170.5 -139.2
41.0
50.6
50.6
59.6
62.1
55.1
56.8
63.1
0
0
525.7
527.1
92.6
42.5
-.7
Gross investment
Statistical discrepancy
93.6
35.7
53.5
Capital grants received by the
United States (net)
Gross private domestic
investment
Net foreign investment
105.6
36.6
0
555.0
0
539.6
0
510.1
0
503.7
0
552.1
0
548.1
641.6 671.0 683.4 679.4 660.8 660.2 699.9 702.6
-115.9 -143.9 -128.5 -139.8 -150.7 -156.5 -147.7 -154.5
-5.6
-4.9
-2.9
.9
-6.1
-11.6
-2.2
-3.1
National income without
capital consumption
adjustment
1987
1986
I
II
III
IV
I
IV
3 198.3 3 394 5 3 332.0 3 386 8 3 413 0 3 446 2 3,515 0 3,560.4
Domestic industries
3,158.5 3,360.7 3,292.2 3,354.6 3,377.5 3,418.6 3,484.2 3,532.6
Private industries
2,689.9 2,864.7 2,806.7 2,862.6 2,878.6 2,910.7 2,967.0 3,007.2
Agriculture, forestry, and
fisheries
Mining
Construction
76.6
44.2
167 6
82.9
40.2
181 8
73.9
44.9
175 6
94.0
39.9
181 2
81.9
38.7
184 3
81.9
37.1
186 2
96.4
37.3
188 4
92.7
39.0
190 5
Manufacturing
Durable goods
Nondurable goods
672.0
402.7
269.3
684.4
410.7
273.7
674.2
407.7
266.4
685.3
413.0
272.3
682.7
409.4
273.3
695.5
412.7
282.8
697.3
419.8
277.5
710.5
419.0
291.5
256.4
109.2
67.8
269.5
113.8
70.9
265.6
110.6
72.5
268.1
111.4
70.1
272.5
116.0
70.0
271.7
117.3
71.1
269.6
117.4
70.8
274.7
119.1
72.2
Transportation and public
utilities
Transportation
Communication
Electric, gas, and sanitary
services
Wholesale trade
Retail trade
Finance, insurance, and
real estate
Services
Government and government
enterprises
Rest of the world
79.4
84.7
82.5
86.6
86.5
83.3
81.3
83.4
202.5
282.8
210.1
301.3
207.8
299.7
206.2
298.1
213.3
304.0
213.0
303.3
219.0
308.9
213.2
311.2
411.1
576.7
465.6
629.0
450.9
614.2
465.7
624.1
468.3
632.8
477.4
644.7
492.8
657.3
504.3
671.1
468.6
496.1
485.5
492.0
498.8
508.0
517.3
525.4
39.8
33.7
39.8
32.2
35.5
27.5
30.7
27.8
SURVEY OF CURRENT BUSINESS
14
September 1987
Table 5.9.—Change in Business Inventories by Industry in Constant
Dollars
Table 5.8.—Change in Business Inventories by Industry
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted at annual rates
1986
1986
Seasonally adjusted at annual rates
1987
III
1987
1986
1985
IV
III
Change in business
inventories
Farm
10.0
15.7
38.3
3.5
27.5
-6.4
51.6
Nonfarm
Change in book value
Inventory valuation
adjustment 1
40.3
13.6
14.3
16.8
10.0
38.5
20.4
24.5
14.2
-.9
-8.0
5.1
13.5
48.7
61.5
27.3
49.7
-8.4
-7.8
-5.4
-2.4
-4.6
-5.2
.6
-4.5
-4.4
-.1
-3.2
-4.5
1.3
-6.2
-4.4
-1.8
-4.7
-7.6
2.9
5.9
1.4
4.5
-3.7
-1.6
-2.2
Wholesale trade
Durable goods
Nondurable goods
2.8
0
2.9
4.0
1.7
2.3
7.0
3.9
3.1
5.7
4.0
1.7
8.7
4.9
3.8
-5.2
-5.8
.6
7.4
6.1
1.3
8.1
6.2
1.9
4.5
.5
4.1
4.0
2.0
2.0
7.0
4.6
2.4
6.3
5.1
1.2
7.7
4.5
3.2
-5.0
-6.1
1.1
5.2
5.0
.2
11.2
7.1
4.1
-1.7
-.5
-1.2
0
-.3
-.6
-1.1
.5
1.0
.4
.6
-.2
.2
-.5
2.2
1.1
1.1
-2.1
Retail trade
Durable goods
Nondurable goods
11.2
8.9
2.3
6.9
3.7
3.2
25.7
22.5
3.2
4.0
4.0
0
-9.4
-14.1
4.7
7.4
2.6
4.8
28.3
21.4
6.9
16.9
10.7
6.2
Other
Durable goods
Nondurable goods
7.4
3.9
3.5
10.5
4.6
5.9
10.3
3.9
6.4
17.9
6.5
11.4
6.0
1.5
4.5
7.7
6.3
1.4
7.2
6.3
.9
6.0
6.7
-.7
Nonmerchant wholesalers.
Durable goods
Nondurable goods
7.4
13.8
-4.6
-1.6
-7.8
-5.4
-2.5
-5.2
-5.2
0
-4.9
-4.4
-.5
-2.9
-4.6
1.8
-8.1
-4.5
-3.6
2.5
-.1
2.6
3.7
1.7
2.1
6.1
3.6
2.5
4.4
3.8
.6
4.5
.4
4.0
3.7
1.9
1.8
6.5
4.3
2.1
-2.0
-.5
-1.5
0
-.3
.3
-.3
_ 7
Retail trade
Durable goods
Nondurable goods
10.4
8.2
2.1
Other
Durable goods
Nondurable goods
7.0
3.6
3.3
inventories
Farm
-14.4
35.3
47.6
-16.6
2.3
Nonfarm
6.8
Manufacturing
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Change in business
13.0
-3.6
IV
Manufacturing
Durable goods
Nondurable goods
Wholesale trade
Durable goods
Nondurable goods
Merchant wholesalers
Durable goods
Nondurable goods
Nonmerchant wholesalers
Durable goods
Nondurable goods
22.7
5.3
1.1
4.2
-4.4
-1.7
-2.7
10.3
4.5
5.8
-4.9
-7.1
2.1
-5.9
-5.3
-.6
6.6
5.7
.9
5.6
5.6
0
4.4
4.8
-.4
8.7
4.1
4.6
-4.7
-5.5
.8
3.6
4.6
-1.0
9.6
6.4
3.1
A
0
-1.1
1.0
1.6
.4
1.2
-1.3
.2
-1.5
3.0
1.1
1.9
6.6
3.6
3.0
24.0
20.8
3.1
3.8
3.8
0
-8.2
-12.5
4.4
6.7
2.2
4.5
25.2
18.8
6.4
15.5
9.8
5.7
10.2
4.2
6.0
10.0
3.6
6.4
18.6
6.1
12.5
6.0
1.4
4.6
6.4
5.8
.5
6.8
5.8
1.0
6.0
6.2
-.2
1. The inventory valuation adjustment (IVA) shown in this table differs from the IVA that
adjusts business incomes. The IVA in this table reflects the mix of methods (first-in, first-out;
last-in, first-out; etc.) underlying book value inventories derived primarily from Census Bureau
statistics. This mix differs from that underlying business income derived primarily from
Internal Revenue Service statistics. Prior to 1973, the two IVA's are the same because
information required for separate estimates is not available.
Table 5.10.—Inventories and Final Sales of Business by Industry
Table 5.11.—Inventories and Final Sales of Business by Industry in
Constant Dollars
[Billions of dollars]
[Billions of 1982 dollars]
Seasonally adjusted quarterly totals
Seasonally adjusted quarterly totals
1987
1986
III
Inventories
1
Inventories
884.6
Farm
1
771.8
442.5
329.3
771.9
439.7
332.2
772.5
438.7
333.9
783.5
446.5
337.0
789.2
451.5
337.7
321.0
209.3
111.6
320.2
208.2
112.1
318.2
207.0
111.2
317.0
205.3
111.7
318.3
205.5
112.8
317.2
205.1
112.1
Wholesale trade
Durable goods
Nondurable goods
175.2
108.9
66.3
176.3
109.8
66.5
179.0
111.0
68.0
177.6
109.6
68.0
179.2
111.1
68.2
180.6
112.5
68.2
149.4
95.7
53.7
150.5
96.9
53.6
152.7
98.0
54.7
151.5
96.6
54.9
152.4
97.7
54.7
154.8
99.3
55.5
25.8
13.2
12.6
25.8
12.9
12.9
26.3
13.0
13.3
26.1
13.1
13.0
26.8
13.3
13.5
25.8
13.1
12.7
85.3
175.1
89.8
85.3
173.1
86.7
86.4
174.8
87.3
87.5
181.1
92.0
89.1
185.0
94.4
90.6
101.6
103.2
262.1
162.0
263.6
162.7
266.2
164.4
269.4
167.0
267.3
163.4
270.0
164.9
3.21
2.92
3.22
2.93
3.19
2.90
3.14
2.87
3.21
2.93
3.21
2.92
4.73
4.74
4.69
4.62
4.80
4.79
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
788.4
467.6
320.8
791.3
469.8
321.5
792.1
469.5
322.6
796.7
469.6
327.1
815.2
830.5
327.6
221.1
106.6
325.0
219.1
105.9
323.9
218.5
105.3
324.3
217.1
107.1
110.1
Wholesale trade
Durable goods
Nondurable goods
178.7
115.6
63.1
179.6
116.9
62.7
181.6
118.9
62.7
181.5
117.8
63.8
185.2
120.0
65.3
189.8
122.3
67.5
154.5
101.6
52.9
156.0
103.2
52.8
157.7
105.0
52.7
157.6
103.8
53.7
160.1
105.8
54.3
165.1
108.3
56.8
24.2
14.0
10.2
23.6
13.7
9.9
23.8
13.9
10.0
23.9
13.9
10.0
25.1
14.2
10.9
24.7
14.0
10.7
185.8
95.5
90.3
187.6
96.7
91.0
187.1
94.4
92.8
189.5
95.3
94.2
1,97.8
101.4
96.3
204.3
105.1
99.2
Retail trade
Durable goods
Nondurable goods
101.4
104.5
107.2
Other
292.8
172.2
296.7
173.8
302.3
177.1
304.8
177.9
306.1
2.93
2.69
2.91
2.67
2.86
2.62
2.83
2.61
2.89
2.66
2.91
2.66
4.58
4.55
4.47
4.48
4.63
4.63
Nonmerchant wholesalers
Durable goods
Nondurable goods
95.4
2
78.2
Ratio of inventories to final sales
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 quarterly rates, whereas CBI 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.
Merchant wholesalers
Durable goods
Nondurable goods
Final sales 2
Final sales of goods and structures
Ratio of inventories to final sales
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
867.4
765.7
440.3
325.5
76.3
2
857.7
Nonfarm
Durable goods
Nondurable goods
Manufacturing
Durable goods
Nondurable goods
69.4
Final sales 2
Final sales of goods and structures
845.8
75.9
66.7
Other
849.3
847.6
71.2
Retail trade
Durable goods
Nondurable goods
IV
74.8
70.6
Nonmerchant wholesalers
Durable goods
Nondurable goods
III
840.6
Farm
68.5
Merchant wholesalers
Durable goods
Nondurable goods
1987
1986
IV
Inventories to final sales
Nonfarm inventories to final sales
Nonfarm inventories to final sales of goods and
structures
1. Inventories are as of the end of the quarter. Quarter-to-quarter changes calculated from this
table are at quarterly rates, whereas the constant-dollar change in business inventories
component of GNP is stated at annual rates.
2. Quarterly totals at monthly rates. Business final sales equals final sales less gross product
of households and institutions, government, and rest of the world, and includes a small amount
of final sales by farms.
15
SURVEY OF CURRENT BUSINESS
September 1987
Table 7.1.—Fixed-Weighted Price Indexes for Gross National Product,
1982 Weights
Table 6.18B.—Corporate Profits by Industry
[Billions of dollars]
[Index numbers, 1982 = 100]
Seasonally adjusted at annual rates
1985
1986
1986
Seasonally adjusted
1987
1985
1986
Corporate profits with inventory
valuation and capital
consumption adjustments
Domestic industries
277.6 284.4
281.1
288.0 282.3
294.0 296.8
26.8 28.0
224.6 233.4
19.4
27.5 27.9
28.6
227.7 225.8 225.7 225.0
Financial
Nonfinancial
Rest of the world
30.5
Corporate profits with inventory
valuation adjustment
Domestic industries
34.4
28.7
224.1 238.4
236.7
235.6
193.6 207.2
202.3 207.0
Nonfinancial
27.9
235.9
26.2
16.9
9.3
26.9
16.1
10.8
25.2
15.6
9.6
26.1
15.5
10.6
175.2 181.1
176.2
27.8
16.1
11.7
27.6
15.7
11.9
185.5 188.0
180.0
185.1
183.2
75.4
75.4
IV
I
IF
112.1 115.1 114.1 114.7
115.5
116.1
117.4
118.6
112.3 115.2 114.4
115.5 116.4
118.0
119.5
114.5
105.0 106.2 105.4 105.8 106.7 107.1 107.9 108.6
107.8 107.7 108.3 106.7 107.5 108.2 110.4 112.4
117.5 123.1 121.3 122.6 123.8 124.9 126.2 127 6
Durable goods
Nondurable goods
Services
69.4
72.5
68.0
Durable goods
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic
equipment
Motor vehicles and equipment
Other
29.2
-2.5
4.0
4.2
31.1
-1.8
4.1
3.9
27.7
-2.8
4.1
3.3
34.4
-1.5
4.4
5.5
31.0
-2.5
4.4
3.7
31.3
-.4
3.6
3.1
38.7
.8
3.9
4.9
37.4
4.5
6.5
12.6
4.3
5.9
14.7
4.8
6.1
12.1
7.0
5.9
13.1
3.7
5.3
16.4
1.6
6.4
17.0
2.9
7.1
19.1
5.6
7.4
16.3
Nondurable goods
Food and kindred products
Chemicals and allied products
Petroleum and coal products...
Other
43.0
7.0
4.2
13.7
18.0
38.4
8.7
6.7
5.4
17.6
34.2
8.4
5.2
5.6
14.9
38.1
8.4
5.8
7.3
16.6
37.0
8.9
7.4
2.7
18.0
44.1
9.1
8.4
5.9
20.8
36.7
7.7
7.9
2.3
18.8
48.2
8.4
7.8
12.7
19.2
Transportation and public utilities
Wholesale and retail trade
Other
37.5
51.4
14.1
42.4
52.1
17.2
39.4
55.8
19.1
42.3
48.2
17.0
46.0
54.6
16.5
41.9
49.7
16.3
37.4
56.2
39.0
45.2
18.3
32.1
29.7
32.6
33.0
Rest of the world
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
-.7
3.8
5.0
Table 7.2.—Fixed-Weighted Price Indexes for Gross National Product by
Major Type of Product, 1982 Weights
1041 104.8
102.4 103.1
100.4 100.8
103.7 104.6
109.9 110.7
105 1
103.3
100.5
105.1
111.1
105.7
103.9
100.8
105.8
112.0
106.4
104.3
101.6
106.0
113.5
107.1
104.7
102.6
106.0
115.3
103 2
101.8
100.3
103.1
108.2
104 9
103.2
100.7
104.7
110.9
103.7
95.7
103.6 103.9 103.8
92.6 95.1 91.4
103.5 103.5 104.5 105.6
93.5 96.3 98 9
91.6
113.7
116.5 115.7
116.0
116.5 117.6
110.8
111.1
110.0
115 8
111.3
112.1
109.3
120 3
111.7
112.4
109.9
118 7
111.4
112.0
109.9
119.4
111.0 111.1 113.2 114.3
111.9 112.1 114.2 115 3
108.7 108.7 110.5 1117
120.5 122.4 123.8 125.2
112.0
115 0 114.0
Net exports of goods and services
Exports
Imports
72.2
61.9
Manufacturing
III
II
Gross private domestic investment
26.1
16.0
10.1
18.4
16.8
1.6
Financial
Federal Reserve banks
Other
31.2
Gross national product
Personal consumption expenditures
247.1 253.2 253.6 253.6 254.3
1987
1986
I
Government purchases of goods and
services
Federal
National defense
Nondefense
State and local
119.3 120.6
Addenda:
Final sales
Personal consumption expenditures,
food
Personal consumption expenditures,
energy.
Other personal consumption
expenditures
114.6 115.3 116.0
108 6 112 2 110 2 1110
113.2
99.9
91.0
87.5
85.0
114.5 119.1 117.4
118.4
119.6
120.8
103.3
90.8
117.3 118.5
114.5 115.3 116.9
90.3
91.9
122.2 123.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 7.3.—Fixed-Weighted Price Indexes for Relation of Gross National Product, Gross Domestic Purchases, and Final Sales to Domestic
Purchasers, 1982 We ights
[Index numbers, 1982 = 100]
[Index numbers, 1982=100]
Seasonally adjusted
1985
I
II
Seasonally adjusted
1987
1986
1986
HI
IV
I
II
1985
r
1986
... 112.1 115.1 114.1
Gross national product
112.0
Final sales
Change in business inventories
107.4
Goods
Nondurable goods
Final sales
Change in business inventories
114.0
115.5 116.1 117.4
118.6
114.6
115.3 116.0
118.5
107.9
108.4
108.5
109.7
110.8
108.2
108.3 109.6
110.6
II
Gross national product
112.1 115.1 114.1 114.7
Less: Exports of goods and services
Plus: Imports of goods and services
103.7
95.7
Equals: Gross domestic purchases
x
103.6
92.6
103.9 103.8
95.1 91.4
III
IV
I
115.5 116.1 117.4
IV
118.6
103.5 103.5 104.5 105.6
91.6 93.5 96.3 98.9
111.3 114.1 113.2
113.5
114.3 115.2 116.7
111.3 113.9 113.2
113.4
114.2
118.0
Less: Change in business inventories
105.9 106.0 106.7 106.7
105.8 105.9 106.6. 106.6
105.6 105.7
105.6 105.7
105.5 105.6
105.4 105.6
108.6 109.9
108.5 109.8
109.8 109.5 110.0
109.6 109.3 109.8
Equals: Final sales to domestic
purchasers 2
115.0 116.5 117.9
..
Services
117.4
122.5 120.7
Structures
104.9
106.5 105.9 106.4
117.3
107.9 107.8
108.3 108.0
107.3 108.1
Final sales
Change in business inventories
Durable goods
Final sales
Change in business inventories.
115.0
114.7
1987
1986
I
121.9
110.1 111.8
109.9 111.6
113.5
113.3
123.1 124.3 125.8 127.1
106.5 107.0
107.9
109.1
1. Purchases in the United States of goods and services wherever produced.
2. Final sales in the United States of goods and services wherever produced.
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
SURVEY OF CURRENT BUSINESS
September 1987
Table 7.7.—Implicit Price Deflators for the Relation of Gross National
Product, Net National Product, and National Income
Table 7.4.—Implicit Price Deflators for Gross National Product
[Index numbers, 1982=100]
[Index numbers, 1982 = 100]
Seasonally adjusted
1985
1986
II
Seasonally adjusted
1987
1986
I
III
IV
Gross national product
111.2
114.1
112.9
113.7
114.7
114.9
116.1
117.1
Personal consumption expenditures
111.8
114.3
113.6
113.6
114.5
115.2
116.9
118.3
104.5 104.9 104.5
107.5 107.1 107.8
117 1 122 5 120.7
104.6
106.2
122.0
105.4 105.2
106.8 107.5
123.3 124.3
105.4
109.8
125.5
106.1
111.7
126.9
Durable goods
Nondurable goods
Services
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Producers' durable equipment
Residential
Change in business inventories
100.5
97.5
102.1
95.2
108.2
1985
II r
I
102.3 100.9 102.2 102.9 103.3 103.9 104.4
98.5 97.2
99.3 99.2
98.4
99.0 99.2
105.5 102.9 105.9 106.8 106.7 106.9 107.8
95.5 94.5 95.3 96.0 96.3 96.3 96.0
111.1 110.0 111.0 111.3 112.2 113.7 115.7
1987
1986
1986
I
II
III
IV
I
II r
113.7
114.7
114.9
116.1
117.1
111.2
114.1
112.9
Less: Capital consumption allowances
with capital consumption adjustment
102.7
103.3
102.9
103.3
103.3 103.7
103.6
104.4
Equals: Net national product
112.3
115.5
114.2
115.1
116.3
116.4
117.7
118.9
Less: Indirect business tax and nontax
liability plus business transfer
payments less subsidies plus current
surplus of government enterprises
116.0
115.0
119.0
109.8
117.4
113.8
114.4
118.3
110.2
112.7
111.6
112.4
113.5 113.4
114.5
115.5
111.9
115.6
113.7
115.6
116.2
116.7
118.1
118.9
Gross national product
Statistical discrepancy
Equals: National income
Net exports of goods and services
Exports
Imports
Government purchases of goods and
services
Federal
National defense
Nondefense
State and local
101.3
94.8
99.7
92.1
100.6
94.5
100.3
91.3
99.2
90.0
98.7
92.6
99.9
95.6
100.5
97.7
112.6
115.3
114.8
115.4
116.0
114.8
118.0
119.6
109.2
109.5
108.1
115.4
110.2
110.8
108.1
119.3
110.7
111.1
109.8
118.0
111.4 111.6 107.0
111.2 110.7 110.4
97.5
112.2 115.0
118.5 119.5 121.2
112.1
111.7
113.6
122.4
114.1
111.8
123.1
123.8
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Gross national product
111.2
114.1
112.9
113.7
114.7
114.9
116.1
117.1
Final sales
Change in business inventories
111.1
114.1
112.9
113.8
114.8
114.7
116.1
117.3
105 8 106 2
105 9 106 0 106 9 106 0
106 9 107 6
106.1
105.8
106.1
107.1
105.5
106.9
107.8
Durable goods
Final sales
Change in business inventories
102.4 101.4
102.3 101.3
101.6
101.3
101.6
101.4
101.5 100.8
101.6 100.9
101.1
100.6
100.5
100.2
Nondurable goods
Final sales
Change in business inventories
108.5 110.1
108.3 110.1
109.3
109.3
109.5
109.9
111.4
111.8
110.3 111.8
109.3 112.0
113.8
114.2
105.6
Services
117.3 122 3 120 4 121 7
122 9
124 0
125 4
126 7
Structures
106.3 109.7
109.8
110.4
110.8
111.7
113.1
107.9
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 7.6.—Implicit Price Deflators for Gross National Product by
Sector
Gross national product
111.2
114.1
111.2
114.1
112.9
113.7
112.3
111.2
113.0
111.8
119.8
103.2
121.1
120.2
103.4
121.5
Business
Nonfarm
Nonfarm less housing
Housing
Farm
Statistical discrepancy
110.2 112.7
110.6 113.4
109.8 112.1
118.8 126.1
95.1 90.2
110.2 112.7
Households and institutions
Private households
Nonprofit institutions
117.4 120.8
102.4 103.6
118.5 122.2
Government
Federal
State and local
117.9 123.4 121.3
114.8 117.4
119.5 126.5
114.7
114.9
112.8
126.9
112.7
128.5
87.8
113.4
115.9
113.7 114.4
129.7 131.0
99.1
90.2
114.5
121.2 122.1
103.7 104.1
122.6 123.6
123.3
104.4
124.8
124.8
104.4
126.3
125.7
127.9
129.5
122.3
133.2
123.9
Rest of the world
Addendum:
Gross domestic business product less
housing
109.4
111.6
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
112.9
113.7
114.7
114.9
116.1
117.1
10L3 "99/7" 100.6
94.5
94.8 92.1
100.3
91.3
99.2
90.0
98.7
92.6
99.9
95.6
100.5
97.7
Equals: Gross domestic purchases
110.1
112.5
111.7
112.0
112.8
113.4
114.9
116.2
94.9
94.8
92.1
92.1
94.5
94.5
91.3
91.3
90.0
90.0
92.6
92.6
95.6
95.6
97.7
97.7
110.4
113.1
112.1
112.6
113.6
114.1
115.5
116.8
114.1
NOTE.—Percent changes from preceding period for selected items in this table are shown in
table 8.1.
Table 7.9.—Fixed-Weighted Price Indexes for Personal Consumption
Expenditures by Major Type of Product, 1982 Weights
[Index numbers, 1982=100]
Personal consumption
expenditures
Durable goods
Nondurable goods
Food
Clothing and shoes
Gasoline and oil
Other nondurable goods
Fuel oil and coal
Other
Housing
Household operation....
Electricity and gas....
Other
Transportation
Medical care
Other
112.3 115.2
114.4
114.5
115.5
116.4
118.0
106.2
105.4
105.8
106.7
107.1
107.9
108.0 110.0
101.0 101.1
106.3 108.0
108.6
100.4
107.8
109.5
100.2
108.0
110.6
100.8
109.1
111.5
100.5
109.7
112.2
102.2
109.9
107.8 107.7
108.3
106.7
107.5
108.2
110.4
105.0
Motor vehicles and parts
Furniture and household equipment
Other
Services
[Index numbers, 1982 = 100]
Gross domestic product
111.2
Less: Net exports of goods and services
Exports
Imports
Equals: Command-basis gross national
product
[Index numbers, 1982 = 100]
Final sales
Change in business inventories
[Index numbers, 1982 = 100]
Gross national product
Plus: Command-basis net exports of
goods and services
Command-basis exports
Imports
Table 7.5.—Implicit Price Deflators for Gross National Product by
Major Type of Product
Goods
Table 7.8.—Implicit Price Deflators for Command-Basis Gross National
Product
108.6 112.2 110.2 111.0 113.2
106.3 106.0 105.9 105.2 105.9
69.6
74.7
96.0 75.3 90.2
113.7 115.7 115.8 115.1 115.6
68.7
88.1 75.4
92.8 75.0
116.6 121.3 119.7 120.6 122.0
117.5 123.1
121.3
122.6
123.8
113.6
101.8
111.2
114.5 115.3 116.9
107.1 108.6 111.8
79.0
75.9
66.7
116.3 118.8
75.9
67.8
123.0 124.7 126.2
124.9
126.2
117.8 124.5 122.1 123.9 125.2 126.8 128.0 129.3
115.9 118.2 117.6 118.6 118.9 117.9 117.6
114.9 113.9 114.9 114.8 114.1 111.8 111.5
116.8 122.7 120.4 122.5 123.8 124.1 124.0 124.7
109.4 113.5 112.8 112.8 113.0 115.2 119.2
121.7 128.1 125.6 127.2 129.1 130.4 132.2
116.8 122.6 120.9 121.9 123.2 124.3 125.8 127.1
Table 7.14.—Fixed-Weighted Price Indexes for Exports and Imports of
Goods and Services, 1982 Weights
[Index numbers, 1982 = 100]
Exports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income
Other
Imports of goods and services
Merchandise
Durable goods
Nondurable goods
Services
Factor income
Other
103.7
103.6
103.9
103.8
103.5
103.5
104.5
105.6
98.6
99.9
96.9
96.3
99.3
92.4
97.8
99.4
95.7
97.0
99.3
94.0
95.5
99.2
90.7
95.2
99.4
89.6
96.2
100.3
90.6
97.3
101.3
92.0
114.2 112.7
115.9 114.6
111.3 109.4
113.7
115.5
110.5
115.0
116.7
112.0
115.5
116.9
113.0
116.6
118.1
113.8
117.7
119.3
114.9
91.6
93.5
96.3
98.9
111.2
112.7
108.4
95.7
92.6
95.1
91.4
92.4
86.2
94.6 100.3
90 2 71 9
90.2
97.3
83 0
84.8
84.4
86.8
99.3 101.4 103.2
70 2 67 3 70 2
105.0
112.3
99.4
111.4
115.5
108.2
109.5
114.2
105.9
110.6
115.1
107.2
112.4
116.3
109.3
113.0
116.5
110.4
92.7
89.8
104.5 106.7
74 9 78 5
115.2
117.7
113.2
117.0
118.9
115.5
17
SURVEY OF CURRENT BUSINESS
September 1987
Table 7.15.—Fixed-Weighted Price Indexes for Merchandise Exports and
Imports by Type of Product and by End-Use Category, 1982 Weights
Table 7.16.—Fixed-Weighted Price Indexes for Government Purchases
of Goods and Services by Type, 1982 Weights
[Index numbers, 1982-100]
[Index numbers, 1982=100]
Seasonally adjusted
1985
1986
III
Merchandise exports
Foods, feeds, and beverages
Industrial supplies and materials.
Durable goods
Nondurable goods
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Merchandise imports
Foods, feeds, and beverages
Industrial supplies and materials,
excluding petroleum
Durable goods
Nondurable goods
Petroleum and products
Capital goods, except autos
Autos
Consumer goods
Durable goods
Nondurable goods
Other
Durable goods
Nondurable goods
Seasonally adjusted
1987
1986
1985
97.8 97.0 95.5 95.2 96.2 97.3
93.1 91.8 84.8 82.4 81.7 81.4
94.7 91.9 90.3 89.7 91.8 94.4
94.7 91.9 90.3 89.7 91.8 94.4
94.7 91.9 90.3 89.7 91.8 94.4
97.9 98.0 98.2 98.6 99.5 100.1
111.2 112.1 112.8 113.4 113.3 114.1
105.8
101.6 103.0 103.3 104.0
98.5
95.8 96.6 96.8 97.3
108.1 108.4 109.3 110.8 111.6
100.4 98.5 98.1 99.3 100.4
100.9 100.4 98.5 98.1
100.9 100.4 98.5 98.1
96.3
87.8
91.6
91.6
91.6
98.2
112.4
103.0
96.7
108.0
99.4
99.4
99.4
86.2
104.9
87.4
87.4
87.4
84.6
87.0
106.9
99.6
95.9
104.8
96.7
96.7
96.7
84.4 84.9 83.7 84.0 84.9 85.3 88.3
84.5 85.0 83.8 84.1 85.0 85.4 88.5
84.3 84.9 83.7 83.9 84.7 85.1 88.1
42.1 36.5 40.8 50.1 55.5
45.5
91.6 93.8 95.6 97.8 99.4
92.5
116.4 119.2 121.9 122.6 124.7
117.8
105.0 102.0 103.8 106.3 107.5 110.0 113.1
103.2 99.4 102.0 104.9 106.3 108.3 110.7
116.6
107.5 105.8 106.4 108.2 109.3
108.2
102.0 99.4 101.2 102.9 104.6
102.9 104.6 105.6 108.2
102.0 99.4
102.9 104.6 105.6 108.2
102.0 99.4
92.7
86.8
106.9 103.0 106.2 102.9 101.0
Table 7.17.—Fixed-Weighted Price Indexes for National Defense
Purchases of Goods and Services, 1982 Weights
Government purchases of goods
and services
Federal-
111.1
112.3
88.3
113.1
114.6
114.1
115.6
110.3
109.0
Nondefense
Durable goods
Nondurable goods
Commodity Credit Corporation
inventory change
Other nondurables
Services
Compensation of employees
Other services
Structures
110.0 109.3 109.9 109.9
98.9 98.9 98.7
State and local
Durable goods
Nondurable goods
Services
Compensation of employees
Other services
Structures
National defense purchases
Military equipment
Aircraft
Missiles
Ships
Vehicles
Electronic equipment
Other
Other durable goods
Nondurable goods
Petroleum products
Ammunition
Other nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Contractual research and
development
Installation support 1
Weapons support 2
Personnel support 3
Transportation of materiel
Travel of persons
Other
Military facilities
111.9
113.1
63.0
116.6
117.7
117.8
117.3
114.4
112.1
112.7
63.0
116.9
117.7
117.8
117.6
115.3
99.0
99.1
114.2 115.3
113.9
120.6
122.0
120.7 121.5
121.7 123.0
116.4
99.7
99.8
96.3 96.8
115.5 115.8
117.2
112.8
114.3
109.2
109.8 110.2 110.6
115.8 120.3 118.7 119.4
106.4
99.2
119.8
120.3
117.7
110.9
108.6
90.5
126.5
127.3
122.8
113.2
107.4
95.4
123.9
124.5
121.2
112.9
108.1
89.5
125.6
126.3
122.2
113.1
108.5
88.1
126.3
127.2
122.1
113.3
109.7 109.9
89.4 92.7
128.6
129.8
133.1
122.9 123.9 124.7
112.9 113.0 113.5
1985
1986
Capital consumption allowances with
capital consumption adjustment
.119
.121
.119
.121
Net domestic product
.954
.968
.962
.965
.973
.971
.103
.852
.702
.104
.864
.715
.104
.858
.709
.101
.864
.714
.867
.717
.867
.720
1986
1987
111.1 112.1 112.4 112.0
112.3 112.4 111.2 112.4
114.4
127.9
109.1
114.3
77.0
106.8
103.1
103.1
114.4
123.6
114.2
117.2
87.3
107.2
102.6
103.1
88.3
70.8
79.7 54.0
106.5 104.8
106.0 107.1
113.1
124.3
109.3
116.7
78.5
106.9
100.9
102.7
86.3
77.7
102.7
106.2
112.7
114.5 115.5 114.6 116.0 115.8
120.2
124.3 123.5 122.3
130.1
116.3
114.3
117.8
117.3
117.6
117.6
83.0 93.0 94.6 94.5 93.2
107.9
107.1 107.1 107.6
101.6
102.7
104.2 104.2
63.0
53.7 42.4 42.2
106.6 104.8 105.2
107.9
45.6
52.7
113.1 116.3
114.6
114.1
115.6
110.3
117.4 116.9 117.4 117.7 117.7
117.6 117.0 117.6 117.8 117.8 120.7 121.5
117.1 116.6 117.0 117.3 117.6 121.7 123.0
116.4
114.0
111.5
115.7
112.7
110.3
87.2
102.0
113.4
120.0
113.8
129.8
87.3
102.3
113.1 113.0 113.5 114.0
122.9
118.8 119.6 120.6 121.0
114.0 113.8 113.7 113.7 113.6
141.4
85.3 86.4 86.5 90.9 93.0 96.4
101.3 102.0
109.0 120.4 119.2 120.9 120.5 121.1
108.9 112.4 110.5 112.5 113.4 113.3 113.8 114.7
1. Includes utilities, communications, rental payments, maintenance and repair, and payments
to contractors to operate installations.
2. Includes depot maintenance and contractual services for weapons systems.
3. Includes compensation of foreign personnel, consulting, training, and education.
91.7
115.0
116.7
112.3
108.9
112.0
112.4
70.8
116.1
117.4
117.6
117.0
113.5
117.5
Seasonally adjusted
IV
Structures
Other
94.7
115.6
117.3
113.1
109.4
112.4
111.2
86.3
115.5
116.9
117.0
116.6
112.8
115.7
1987
1986
III
Durable goods
100.4
113.7
115.6
110.8
107.4
112.1
112.4
70.8
116.3
117.4
117.6
117.1
114.0
117.2
[Dollars]
Seasonally adjusted
1986
114.3
110.8 111.3 111.7 111.4
National defense
Durable goods
Nondurable goods
Services
Compensation of employees
Military
Civilian
Other services
Structures
Table 7.18.—Current-Dollar Cost and Profit Per Unit of Constant-Dollar
Gross Domestic Product of Nonfinancial Corporate Business
[Index numbers, 1982 = 100]
1985
1987
IV
98.6
95.6
95.7
95.7
95.7
99.0
109.5
99.9
94.2
104.3
101.2
101.2
101.2
92.4
97.8
84.4
1986
1986
Current-dollar cost and profit per
unit of constant-dollar gross
domestic product *
Indirect business tax and nontax
liability plus business transfer
payments less subsidies
Domestic income
Compensation of employees
Corporate profits with inventory
valuation and capital consumption
adjustments
Profits tax liability
Profits after tax with inventory
valuation and capital
consumption adjustments
Net interest
.068
.105
.875
.724
.728
.102
.106
.045
.106
.062
.061
.059
.033
.043
.987
.046
1. Equals the deflator for gross domestic product of nonfinancial corporate business with the
decimal point shifted two places to the left.
SURVEY OF CURRENT BUSINESS
18
September 1987
Table 8.1.—Percent Change From Preceding Period in Selected Series
[Percent]
Seasonally adjusted at annual rates
HI
Gross national product:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Personal consumption expenditures:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
5.7
4.5
1.1
1.5
1.7
3.1
.5
2.5
3.0
3.0
5.0
-.7
6.0
5.5
5.7
7.1
1.9
4.9
5.2
5.2
- 7 . 1 -20.7
- 6 . 3 -21.2
.8
-.8
2.9
1.6
3.2
1.6
13.7
10.5
2.7
2.2
2.6
National defense:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
10.7
8.3
2.1
2.6
3.3
Nondefense:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
24.1
21.0
2.5
3.6
.9
-1.1
5.3
-5.8
-5.8
-5.9
Services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
7.3
3.0
4.4
4.5
4.6
5.7
1.2
4.4
4.4
4.4
Nonresidential:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
21.6
20.8
Residential:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Exports of goods and services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Imports of goods and services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
2.7
.2
2.6
2.6
2.6
10.4
1.3
8.8
8.2
8.3
5.1
-1.9
7.1
7.8
7.6
6.9
2.6
4.3
4.2
4.0
6.4
3.0
3.3
3.6
3.6
9.8
5.4
3.9
4.6
4.5
6.7
2.1
4.5
4.4
4.2
-2.3 -10.5
- 5 . 1 -11.8
26.3
-8.4
1.6
1.1
3.7
1.8
1.8
1.5
1.6
4.3
-.9
5.3
3.2
2.7
-10.6
-12.5
2.3
2.7
2.6
9.0
6.9
1.9
2.7
2.6
-1.3
-2.3
1.0
1.1
1.4
-6.1
-10.3
5.0
3.1
2.6
-14.5
-14.6
11.6
11.7
-.4
.4
1.4
Structures:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index.
Producers' durable
equipment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index.
12.2
2.2
1.4
3.2
2.9
-3.0
2.5
1.7
13
16.6
3,
1.2
2.0
-10.6
-12.2
1.7
g
1.3
9.8
6,
3,
3.6
3.3
3.1
3.0
2.6
2.2
15.5
12.5
2.
2.6
2.5
16.4
14.5
li
1.'
1.'
29J
24.8
3.'
3.4
3.
10.9
9.'
1.
1.
1.2
1
3.3
-1.6
-2.1
4.
19.
-12.!
5.8
10.6
-4.:
-l.i
-l.:
13..
20.
-5.1
2.1
6.3 - 1 2 . 8
.8
-15.4
-15.3
0
-2.6
-7.
5.5
5.4
5.3
3.1
0
3.4
4.2
3.8
15.5
16.5
-1.2
-1.2
0
Federal:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index....
State and local:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weigh ted price index
11.2
7.3
3.7
4.2
4.1
-4.6
-8.3
3.9
1.4
1.7
14.0
11.5
2.2
2.9
2.6
9.3
4.1
5.0
5.1
5.2
5.9
1.2
1.0
.9
-1.8
-.4
-.3
.3
-6.6 -54.7
- 6 . 5 -61.6
17.8
.5
-.6
-.7
8.3
4.8
3.4
3.6
3.8
9.7
7.1
2.4
2.6
3.0
IV
9.9
7.8
2.1
1.3
1.1
3.6
7.9
-4.1
3.0
3.8
4.5
-6.2
11.6
5.0
5.8
9.7
3.8
5.5
3.0
4.6
13.8
11.0
2.6
.2
-.9
-2.8
15.2
-15.5
-1.7 -1.0
-1.4
-1.8
18.6
20.5
5.8
7.7
14.6
6.6
7.3
.6
18.6
17.9
.4
0
-1.3
16.4 - 1 0 . 5
-1.8 -1.1
-1.7 -1.4
12.8
7.6
4.8
6.1
7.9
10.1
9.8
.4
0
3.9
66.5
84.3
5.1
7.1
32.0
-4.5
37.9
2.4
4.4
9.3
5.0
4.0
4.5
4.5
6.4
1.7
4.7
4.7
4.9
.4 - 2 6 . 2
31.9
- 7 . 6 - 3 2 . 8 153.9
9.0
10.4 48.3
1.0 - 2 . 0
.7
.1 - 4 . 3
-.2
7.2
5.4
1.7
2.1
2.5
7.0
3.5
3.4
3.7
4.0
8.5
2.4
5.8
6.0
6.3
Addenda:
Gross domestic purchases:
1982 dollars
Chain price index
Fixed-weighted price index
2.1
4.4
4.7
Final sales:
1982 dollars
Chain price index
Fixed-weighted price index
3.5
3.7
4.1
Final sales to domestic purchasers:
1982 dollars
Chain price index
Fixed-weighted price index
3.1
4.4
4.7
Command-basis gross national product:
1982 dollars
Implicit price deflator
1.8
4.6
Gross domestic product:
1982 dollars
Implicit price deflator
2.8
3.5
Business:
1982 dollars
Implicit price deflator
Nonfarm:
1982 dollars
Implicit price deflator
Disposable personal income:
Current dollars
1982 dollars
2.9
3.5
2.9
2.9
3.6
3.1
2.9
3.2
2.8
.6
-4.3
4.1
-2.8
7.2
7.2
6.7
-2.'
20.8
17.9
2.4
4.0
4.4
12.
21.4
11.1
9.1
10.0
11.3
NOTE.—The fixed-weighted price index and the chain price index, both of which are weighted
averages of the detailed prices used in the deflation of GNP, are measures of price change. In
calculating changes in these indexes, the composition of GNP is held constant. Consequently
these changes reflect only changes in prices. The fixed-weighted price index measures price
change over any period, using as weights the composition of GNP in 1982. The chain price index
measures price change between two consecutive periods, using as weights the composition of
Government purchases of goods and
services:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
6.3
2.5
3.5
3.7
4.1
3.3
6.3
-2.9
-2.5
-2.4
Fixed investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
III
8.6
4.4
4.2
4.2
4.5
Nondurable goods:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
1987
1986
IV
2.1
1.5
.7
2.0
2.3
6.0
5.4
.8
.9
1.1
2.8
1985
7.0
5.4
1.8
1.7
2.2
Durable goods:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weigh ted price index
Gross private domestic investment:
Current dollars
1982 dollars
Implicit price deflator
Chain price index
Fixed-weighted price index
Seasonally adjusted at annual rates
1987
1986
GNP in the first period. The implicit price deflator is a byproduct of the deflation of GNP. It is
derived as the ratio of current- to constant<lollar GNP (multiplied by 100). It it the average of
the detailed prices used in the deflation of GNP, but the prices are weighted by the composition
of GNP in each period. Consequently, the implicit price deflator reflects not only changes in
prices but also changes in the composition of GNP, and its use as a measure of price change
should be avoided.
19
SURVEY OF CURRENT BUSINESS
September 1987
Reconciliation and Other Special Tables
Table 1.—Relation of Net Exports of Goods and Services in the National Income and Product
Accounts (NIPA's) to Balance of Goods and Services in the Balance of Payments Accounts
(BPA's)
[Billions of dollars]
Seasonally adjusted at
annual rates
Line
1986
1987
Exports of goods and services, BPA's
Less: Gold, BPA's
Capital gains net of losses in direct investment income receipts, BPA's
Statistical differences !
Other items
Plus: Adjustment for U.S. territories and Puerto Rico
Services furnished without payment by financial intermediaries except life
insurance carriers and private noninsured pension plans.
Equals: Exports of goods and services, NIPA's
372.8
5.9
8.8
0
0
12.4
5.7
395.8
1.9
18.5
-2.8
0
13.3
5.8
399.9
2.0
3.5
-2.8
0
13.3
5.9
376.2
397.3
416.5
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, BPA's
Statistical differences l
Other items
Plus: Gold, NIPA's
Adjustment for U.S. territories and Puerto Rico
Imputed interest paid to foreigners
Equals: Imports of goods and services, NIPA's
498.5
22.6
7.9
-1.3
0
0
.3
6.4
5.7
481.7
530.5
22.9
3.0
3.8
3.1
0
552.7
24.3
1.9
.1
3.1
0
-1.2
6.8
5.9
534.8
-125.7
-134.7
-1.7
10.1
0
0
22.6
6.0
-105.5
-1.9
14.8
-6.0
0
22.9
6.5
-112.2
Balance on goods and services, BPA's ( 1 - 9 )
Less: Gold ( 2 - 1 1 + 15)
Capital gains net of losses in direct investment income, BPA's (3-12)
Statistical differences (4-13)
Other items (5-14)
Plus: Payments of income on U.S. Government liabilities (10)
Adjustment for U.S. territories and Puerto Rico(6-16)
Equals: Net exports of goods and services, NIPA's (8-18)
5.8
509.5
-152.8
-1.1
3.4
-6.0
0
24.3
6.5
-118.4
1. Consists of statistical revisions in the BPA's that have not yet been incorporated in the NIPA's.
Table 8.—Revisions in Selected Component Series of the NIPA's, Second Quarter of 1987
Seasonally adjusted at annual rates
First
revision
Second
revision
Difference
Percent change from
preceding quarter at
annual rates
First
revision
Second
revision
Billions of current dollars
2,947.3
432.3
228.1
40.4
-118.6
918.2
4,445.1
2,943.7
434.6
227.7
40.3
-118.4
917.1
-3.6
2.3
— 4
_ i
.2
-1.1
7.6
9.3
4.9
7.1
11.6
4.1
National income
Compensation of employees
Corporate profits with inventory valuation and capital
consumption adjustments
Other
3,597.8
2,623.7
3,593.3
2,623.4
-4.5
-.3
5.7
5.3
5.2
5.3
296.5
677.7
296.8
673.1
-4.6
3.4
8.2
3.9
5.3
Personal income
3,713.4
3,708.6
-4.8
2.1
9.3
-2.2
1.9
11.7
-2.8
4.2
3.8
4.3
3.9
3.8
4.1
3.7
3.5
GNP
Personal consumption expenditures..
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
4,447.7
Billions of constant (1982) dollars
GNP
Personal consumption expenditures
Nonresidential fixed investment
Residential investment
Change in business inventories
Net exports
Government purchases
3,793.7
2,489.0
435.6
197.1
37.8
-133.3
767.5
Index numbers, 1982 = 100
GNP price index (fixed weights)
GNP price index (chained weights)..
GNP implicit price deflator
1.6
-1.5
2.3
-.3
1.2
.6
3,795.3
2,487.5
437.9
196.8
39.0
-132.7
766.7
118.7
118.6
117.2
117.1
l
-.1
1. Not at annual rates.
NOTE.—For the second quarter of 1987, the following revised or additional major source data were incorporated: For personal
consumption expenditures, revised retail sales for June, used car sales for the quarter, 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, business share of new car purchases for June, and actual plant and
equipment expenditures for the quarter; 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
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 from the rest of the world for the quarter; for corporate profits, revised domestic book profits for the quarter, and revised
profits from the rest of the world for the quarter; and for GNP prices, revised residential housing prices for the quarter and unitvalue indexes for merchandise exports and nonpetroleum merchandise imports for June.
By EUGENE P. SESKIN and DAVID F. SULLIVAN
Plant and Equipment Expenditures,
the Four Quarters of 1987
BUSINESS plans to spend $389.1
billion for new plant and equipment
(P&E) in 1987, 2.5 percent more than
in 1986, according to the BEA survey
conducted in July and 1August (tables
1 and 2, and chart I). Spending was
$379.5 billion in 1986, 2.0 percent less
than in 1985.
The latest estimate of planned
spending for 1987 is $1.8 billion lower
than that reported in June for the
survey conducted in April and May. A
0.9-percent downward revision in nonmanufacturing industries more than
offsets a 0.3-percent upward revision
in manufacturing industries. The previous survey showed planned spending of $390.9 billion for2 1987, 3.1 percent more than in 1986.
Real spending—capital spending adjusted to remove price changes—is estimated to increase 1.4 percent in
1987. Real spending declined 2.6 percent in 1986, following an increase of
9.6 percent in 1985 (tables 2 and 3).
Estimates of real spending are calculated from survey data on currentdollar spending and from estimated
capital goods price deflators developed
by BEA.3 The capital goods deflator
for "all industries" is projected by
BEA to increase 1.1 percent in 1987,
following a 0.6-percent increase in
1986; the deflator declined 0.4 percent
in 1985.
The estimates in this article reflect revised seasonal-adjustment factors from
1984 to date. In addition, estimates of
real spending reflect revised P&E implicit price deflators from 1973 to date.
The usual discussion of survey results
is followed by a brief technical note describing the revision of the estimates of
real P&E spending. This, in turn, is followed by a special analysis that examines trends in real capital spending
during the current economic expansion.
3. Specifically, the current-dollar figures reported by
survey respondents are adjusted using implicit price
deflators developed for each industry from unpublished detail on current- and constant-dollar nonresidential fixed investment in the national income and
product accounts. To estimate planned real spending,
the implicit price deflator for each industry is projected using the deflator's growth rate over the latest four
quarters for which it is available.
NOTE.—Felicia V. Candela, with assistance
from Scott D. Smith, developed the revised estimates of real P&E spending under the supervision of John H. Gates. David F. Sullivan, with
assistance from Sharon P. Montgomery, carried
out the research on trends in real capital
spending under the supervision of Robert E.
Yuskavage.
Table 1.—New Plant and Equipment Expenditures by Business
[Percent change from preceding year]
Actual
Planned
1987
1. The survey covers expenditures for new facilities
and for repair, expansion, or replacement of existing
facilities that are chargeable to fixed asset accounts
and for which depreciation or amortization accounts
are ordinarily maintained. The survey excludes expenditures for land and mineral rights; maintenance
and repair that are not capitalized; used plant and
equipment, including that purchased or acquired
through mergers or acquisitions; assets located in foreign countries; residential structures; and a few other
items.
The estimates presented are universe totals of domestic P&E expenditures for all industries surveyed
quarterly, which account for nearly 90 percent of capital spending by U.S. nonfarm business. Sample data
are compiled from reports on a company basis, not
from separate reports for plants or establishments. A
company's capital expenditures are assigned to a
single industry in accordance with the industry classification of the company's principal product or service.
P&E expenditures differ from nonresidential fixed
investment, which is a component of GNP, in type of
detail, data sources, coverage, and timing. For further
information, see pages 24-25 of the February 1985
SURVEY OF CURRENT BUSINESS.
2. The estimates of planned spending have been adjusted for systematic reporting biases. The bias adjustments are calculated by industry for each planning
horizon. For a given time period, the bias-adjustment
factor is the median of the ratios of planned to actual
expenditures for that time period in the preceding 8
years. Before adjustments, 1987 planned spending was
$388.29 billion for "all industries," $150.16 billion for
manufacturing, and $238.13 billion for nonmanufacturing industries surveyed quarterly.
20
1986
1985
All industries 3
Manufacturing
Durable goods
Primary metals 4
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment4
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables
Nondurable goods
Food including beverage
Textiles
PaperChemicals
Petroleum
Rubber
Other nondurables
Nonmanufacturing 3
Mining...
Transportation
Railroad
Air
Other..,
Public utilities
Electric
Gas and other
Commercial and other
1. See table 2, footnote 1.
2. As originally published.
3. Surveyed quarterly.
4. Includes industries not shown separately.
1
Oct.-Nov.
1986
survey 2
Jan.-Mar.
1987
survey 2
Apr-May
1987
survey 2
July-Aug.
1987
survey 1
0.9
3.0
3.1
2.5
10.6
10.6
8.5
16.5
-11.8
3.9
5.9
3.7
20.3
30.6
-3.3
10.1
19.7
10.5
17.1
-7.6
19.2
7.3
4.6
24.3
17.1
-7.0
-5.6
-8.0
-19.4
3.0
12.1
-8.4
-14.9
-3.0
-4.6
10.0
-7.7
7.6
-8.3
2.6
-5.9
2.0
2.3
-32.9
.8
11.1
-2.0
-.6
19.1
32.7
4.5
-1.5
5.0
-7.0
-8.3
-8.5
-9.1
.2
1.1
-3.2
1.5
4.1
-7.8
-3.5
-14.2
-8.6
12.1
1.5
2.2
24.0
39.3
15.1
.2
13.2
-7.4
-9.5
-10.2
-11.2
7.1
6.3
.8
4.6
8.7
-2.9
.6
-10.6
-7.5
17.1
2.2
2.6
18.8
32.7
8.8
-2.6
10.9
-4.1
-7.5
-9.1
-4.0
7.4
9.1
1.9
7.1
17.5
-3.2
-1.0
-4.6
-9.7
14.7
2.6
3.0
17.8
32.3
8.7
-.4
9.7
-2.7
-5.4
-6.4
-3.8
7.1
7.7
2.2
6.9
17.8
1.2
-1.8
-5.0
-11.2
15.1
8.4
-5.8
9.1
4.3
34.5
-.4
2.8
-2.5
21.6
12.0
1.3
-29.4
4.3
-6.0
30.5
-4.2
-5.0
-6.1
-1.8
6.3
2.7
-10.1
1.2
-7.7
3.4
9.0
-4.5
-8.1
5.1
5.9
4.0
-10.2
1.7
-7.3
3.6
9.9
-.5
-4.0
8.9
3.6
-7.1
3.4
-8.7
8.0
12.3
-1.7
-2.9
1.6
5.9
2.5
-4.2
3.8
-5.5
7.2
10.7
-4.0
-5.7
.7
4.7
9.2
-2.0
6.5
SURVEY OF CURRENT BUSINESS
September 1987
21
Table 2.—New Plant and Equipment Expenditures by Business in Current and Constant Dollars
Billions of dolla rs; quarters seasonally adjusted at annual rates
1984
1985
1986
1987
I
AH industries 3
Manufacturing
Durable goods
Primary metals 4
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment 4
Motor vehicles . .
Aircraft
Stone, clay, and5 glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables 6
Nonmanufacturing 3
Mining
Transportation
Railroad
Air
Other . . .
Public utilities
Electric
Gas and other
Commercial and other
Wholesale and retail trade
Finance and insurance
Personal and business services 7 ..
Communication
Addenda: 6
Total nonfarm business 9
Manufacturing
Nonmanufacturing
Surveyed quarterly 10
Surveyed annually
II
III
IV
I
II
1987
1986
1985
1984
2
III
IV
I
II
III
IV
I
II
III2
IV2
354.44 387.13 379.47 389.07 340.48 349.73 361.70 365.85 375.33 388.16 390.05 394.98 380.04 376.21 375.50 386.09 374.23 377.65 398.04 406.37
138.82 153.48 142.69 146.40 131.22 136.13 142.75 145.21 147.85 154.94 154.79 156.35 145.11 142.19 139.43 144.07 140.65 140.79 150.47 153.67
66.24 73.27 69.14 71.23 61.84 64.33 68.34 70.44 70.85 74.53 73.03 74.67 68.71 68.56 69.42 69.87 70.47 68.76 73.24 72.44
8.99
8.16
7.10
6.68
8.68
7.78
7.91
7.65
6.99
7.77
7.88
7.63
7.60
7.28
7.02
6.64
7.13
8.40
7.75
7.15
4.74
4.31
3.27
3.18
4.43
4.11
4.30
3.74
3.32
2.98
3.86
4.19
4.09
3.92
3.56
3.55
3.31
4.40
4.12
3.54
2.20
2.10
2.03
1.79
193
2.36
1.73
179
2 02
1.89
188
182
2 01
2 27
215
2 05
2 05
210
188
213
3.93
3.99
3.89
3.46
4.10
3.89
4.01
3.75
3.66
3.52
3.12
4.00
3.57
3.44
4.05
4.09
3.69
3.38
3.44
3.99
14.61 15.47 14.17 15.55 13.70 14.11 15.12 15.52 15.69 16.67 15.22 14.29 13.07 14.61 14.09 14.92 14.99 14.59 16.31 16.30
15.41 15.98 13.61 13.24 14.47 15.03 16.35 15.77 16.08 16.56 15.58 15.72 14.37 13.26 13.37 13.44 13.07 12.98 13.42 13.48
16.18 19.46 18.88 17.85 14.78 15.59 16.30 18.04 17.54 19.31 19.17 21.84 18.55 18.68 20.19 18.09 18.62 17.40 18.49 16.90
11.20 14.63 13.95 13.06 10.21 10.74 11.26 12.59 12.51 14.54 14.08 17.41 13.58 13.73 15.54 12.96 13.93 12.52 13.62 12.16
4.09
3.69
3.42
3.41
3.65
3.73
3.92
3.58
3.54
3.63
3.70
3.57
3.17
3.60
3.20
3.80
3.45
3.57
3.87
3.83
3.11
3.56
3.49
3.05
3.37
3.58
3.56
3.06
3.24
3.46
3.22
3.21
3.33
3.09
3.12
3.14
3.40
3.09
2.86
3.09
6.69
7.92
7.49
6.09
8.84
8.53
8.76
8.15
7.24
9.53
8.52
8.78
7.84
6.69
5.99
8.20
7.62
6.37
8.12
7.77
72 58 80.21 73.56 7517 69.39 71.79 74.40 74.77 77.00 80.41 8176 81.67 76 39 73 62 70.01 74.20 70.18 72.03 77.23 81.22
9.87
9.12
9.28
8.34
12.45
10.87
10.77
10.74 11.22 11.25
10.31 10.41 10.72
8.56
8.82 10.33 10.60 11.33
10.48
9.95
2.00
1.72
1.85
1.98
1.86
1.98
1.85
1.97
1.67
1.77
1.92
1.98
1.92
2.10
1.86
1.89
1.51
1.50
1.54
1.77
7.41
8 76
8 25
6.87
8.87
8.59
7 21
9 46
7.89
8.01
6.54
8.77
9 62
9 05
8 06
8 71
8 72
8 77
8 57
9 07
15.32 16.44 16.81 16.51 14.90 14.77 15.54 16.08 16.36 16.77 16.54 16.11 15 99 16 76 16.66 17 87 15.24 16 00 16 73 18 08
25.53 26.71 17.92 17.03 24.08 26.34 26.58 25.13 26.03 27.63 27.14 26.03 22.85 17.50 14.57 16.76 15.08 15.14 18.78 19.11
3.20
3.65
3.42
2.77
3.02
3.45
3.89
3.70
3.22
3.31
4.42
3.93
3.43
3.86
3.11
3.37
3.52
3.78
4.12
4.35
10.68 12.50 13.90 16.00 10.68 10.50 10.39 11.15 11.44 11.94 13.27 13.38 13.03 13.92 14.05 14.60 15.47 15.54 16.36 16.61
215.61
16 86
16.52
6.79
3.56
6.17
47.48
37.03
10.44
134.75
44.93
33.91
28.70
27.21
233.65 236.78 242.68 209.26 213.60 218.96 220.63 227.48 233.22 235.26 238.64 234.93 234.03 236.07 242.02 233.58 236.87 247.57 252.70
16.51 16.82
16.70
15.98
16.56
10.75 17.55
10 31 10 31 1102
1014
14 89 13 13 1129
15.95
15.88 1122
10 60
1106
17.49
16.92
16.28
15.83 16.93 17.03
18.80
18 50 18 40 18 81 19 50 18 98 17 67 20 45 20 96
1912
18.56
19.52
18.02
7.19
7.32
6.66
6.59
6.81
6.56
6.29
6.66
6 85
7.50
7.08
6 41
7 02
6 50
6 79
5 77
5 55
6 70
7 05
3.59
3.73
3.59
4.21
3.35
6.70
6.26
5 96
5.25
3.76
4.79
6 84
5 78
6 53
6 62
5 72
7 46
5 87
7 02
6.06
6.10
6.50
6.15
5.92
6 31
5.81
6.40
6.52
5.89
6 01
5 47
6.15
6 25
5 83
7 05
619
5 97
6 88
48.81 46.38 44.53 47.13 47.93 48.11 46.72 48.61 48.54 48.44 49.65 47.17 46.43 45.81 46.12 43.60 43.48 45.59 45.45
36.11 33.91 31.96 38.27 37.71 36.78 35.37 36.57 35.96 35.51 36.38 34.25 33.77 33.81 33.78 30.85 31.13 32.93 32.95
12.04
11.36
11.33
10.22
12.58
8.86
12.34 12.75 12.35
12.92 12.66 12.00
12.92
12.56
12.70 12.47
13.27
12.49
12.66
150.94 160.38 167.89 128.74 132.22 136.99 141.07 145.97 150.49 152.32 154.98 156.14 157.91 161.31 166.08 160.70 164.69 170.46 175.70
43.16 43.86 45.66 47.08 49.33 51.14 50.89 51.68 52.66 54 76 56 33 58.09 5613
57 13
50.76 55.46
32.35 34.37 33.51 35.42 36.65 38.00 40.37 42.75 42.01 40 98 45.49 46.63 45.12 4616
39.44 43.79
28.65 28.19 29.62 28.35 28.83 28.72 27.70 29.53 27.89 27 88 28.25 28.74 28 79 30 02
28.69 28.20
24.58 25.81 28.19 30.22 31.16 32.63 33.35 31.02 33 58 34 28 31.24 32 61 30 66 3138
32.04 32.93
398.99
138.82
26016
215.61
44.55
431.94
153.48
278 46
233.65
44.81
427.23
142.69 146.40 131.22 136.13 142.75 145.21 147.85 154.94 154.79 156.35 145.11 142.19 139.43 144.07 140.65 140.79 150.47 153.67
284 54
236.78 242.68 209.26 213.60 218.96 220.63 227.48 233.22 235.26 238.64 234.93 234.03 236.07 242.02 233.58 236.87 247.57 252.70
47.75
Billions of 1982 dollars; quarters seiisonally adjusted at annual rate s 1 1
3
358.01 392.47 382.40
All industries
143.60 159.34 146.99
Manufacturing
66.53 74.62 70.60
Durable goods
4
7.64
7.03
7.02
Primary metals
3.21
4.01
3.45
Blast furnaces, steel works
1.97
1.90
2.12
Nonferrous metals
3.93
3.52
3.38
Fabricated metals
15.88 14.65
14.70
Electrical machinery
17.03 14.79
15.89
Machinery, except electrical
19.57
18.99
16.20
Transportation equipment4
13.74
14.48
11.06
Motor vehicles
3.64
4.08
3.65
Aircraft
3.05
3.33
3.02
Stone, clay, and5 glass
8.18
7.65
6.32
Other durables
77.07 84.72 76.38
Nondurable goods
9.91
10.01
8.53
Food including beverage
1.59
1.72
1.87
Textiles
7 15
Paper
8 76
8 62
16.70
15.49
17.00
Chemicals
30.16 31.07 20.86
Petroleum
3.74
3.02
3.73
Rubber
14.43
10.85 12.97
Other nondurables 6
3
214.41 233.13 235.41
Nonmanufacturing
13.54
20.78 19.27
Mining
15.58 16.73 17.14
Transportation
45.41 46.13 43.34
Public utilities
132.64 151.00 161.39
Commercial and other
44.21 50.24 54.60
Wholesale and retail trade
35.69 44.05 50.60
Finance and insurance
7
Personal and business services .... 27.81 27.76 27.06
24.94 28.95 29.13
Communication
Addenda: 8
Total nonfarm business 9
Manufacturing
Nonmanufacturinc
Surveyed quarterly 10
Surveyed annually
402 57
143.60
258 97
214.41
44.56
438.42
159.34
279 08
233.13
45.95
387.91 344.45 352.93 365.17 369.49 377.91 393.40 395.69 402.90 387.13 379.25 376.42 386.76 374.49 376.93 396.45 403.78
149.08 135.67 140.90 147.75 150.11 152.45 160.95 160.89 163.10 151.71 146.59 142.43 147.23 143.61 143.37 153.28 156.04
72.03 61.97 64.45 68.68 71.03 71.41 75.90 74.50 76.68 70.59 70.23 70.66 70.95 71.51 69.66 73.94 73.01
7.81
7.52
7.15
6.90
6.53
7.58
6.96
6.57
7.67
7.51
7.46
6.90
7.93
7.77
3.14
4 11
3 94
3.07
3 75
4 18
4 07
3 98
3 81
3.64
3 46
3 47
3.23
2.88
2.06
2.04
213
183
194
184
1.91
184
2 02
2.15
2 04
176
2.06
2 27
3.81
3.91
3.89
4.04
3.71
3.64
3.33
3.40
3.38
3.08
3.78
3.98
3.61
3.46
13.73 14.14
13.60
15.66 14.88
15.87 17.09
15.70
15.22
15.16 14.53 15.33 15.42 14.97
15.42
14.82
16 89 16.43 16 78 17 60 16 67 17 09 15 66 14 44 14 50
14 55 14.21 1411
14.81 15.60
18 08 17 54 19 42 19 32 22 02 18 77 18 84 20.21 18.13 18.61 17 39
16.32
10.60
10.11
12 70 13.63
17 28 13 44 13 56 15.28
13 94
14.40
11.11 12 44 12.32
12 21
3.46
3.24
4.19
3.83
3.40
3.60
3.66
4.22
3.96
3.82
4.16
4.12
3.91
3.68
2.97
3.06
3.43
2.96
3.26
3.48
3.42
3.15
3.04
3.01
3.08
3.09
2.78
3.02
7.96
6.64
6.03
5.94
8.66
8.08
7.91
7.52
7.20
6.67
8.41
8.68
8.13
7.84
77.04 73.70 76.45 79.07 79.07 81.04 85.05 86.40 86.43 81.12 76.36 71.77 76.28 72.10 73.70 79.34 83.03
9 48
8.95
8.28
811
9 98
10 51 10 48
9 93 1010
9 50
9 98 10 26
9 90
8 78
174
144
179
1 80
194
1.92
180
178
170
144
149
166
192
196
8 67
7 97
8 50
910
9 56
7 97
8 65
8 79
8 80
8 28
7 85
6 81 7 35
6 48
15.06
14.93 15.70
16 26 16 50 17 03 16 81 16 46 16 34 16 97 16 77 17 94 15 31 16 00
28.48 31.16 31.45 29.54 30.28 32.15 31.54 30.31 27.20 20.21 16.65 19.38
17 65 17 63
3 55
3.33
3 11
2.70
2.95
3 61
4 28
3 81
3 32
3 49
3 06
3 14
3 96
4 20
10.80
11.39
10.57
10.64
12 35 13 78 14 06 13 65 14 50 14 53 15.03 15 88 15 98
11.70
238.84 208.78 212.03 217.42 219.39 225.46 232.45 234.79 239.80 235.42 232.66 233.99 239.52 230.88 233.57 243.17 247.74
13.08 21.70 20.25 20.T4 20.40 19.41 20.25 19.32
18.11 16.26
13.34
12.49
13.51 11.99 12.43
13.53 12.97
16.01 15.24
15.99
17 46 15.08
16 25 17 20 17 65 17 02 16 84 17 08 17 62 17 12
15.80
15 85 18 25 18 60
40.95 45.24 45.90 45.99 44.50 46.21 45.92 45.66 46.70 44.23 43.50 42.73 42.88 40.40 40.05 41.82 41.51
167.35 126.75 129.89 134.69 139.25 144.03 150.02 152.61 157.34 157.91 158.80 162.19 166.59 160.87 164.33 169.57 174.65
42.61 43.04 44.85 46.38 48.46 50.65 50.42 51.44 52.34 54.08 55.18 56.81 54.84 55.44
33.55 35.86 35.41 37.93 39.48 42.05 45.31 49.34 48.51 47 45 52.50 53 87 5216
53 54
27.90 27.29 28.62 27.42 27.82 27.79 26.78 28.65 27.02 26.83 27.03 27.34 27.23 28.24
22.69 23.70 25.80 27.52 28.27 29.53 30.10 27.91 30.05 30.44 27.48 28.57 26.64 27.11
431.95
146.99 149.08 135.67 140.90 147.75 150.11 152.45 160.95 160.89 163.10 151.71 146.59 142.43 147.23 143.61 143.37 153.28 156.04
284 96
235.41 238.84 208.78 212.03 217.42 219.39 225.46 232.45 234.79 239.80 235.42 232.66 233.99 239.52 230.88 233.57 243.17 247.74
49.55
1. Estimates reflect revised seasonal-adjustment factors for 1984-87. Revised annual estimates
for 1986 are calculated from quarterly estimates unadjusted for seasonal variations. The previously reported annual estimates for 1986 were calculated from seasonally adjusted quarterly estimates derived using projected seasonal-adjustment factors.
2. Estimates are based on planned capital expenditures reported by business in July and
August 1987. The planned expenditures are adjusted for systematic biases in reporting. The adjustment procedures are described in the February 1985 SURVEY OF CURRENT BUSINESS. Before
bias adjustment, current-dollar plans for 1987 were $388.29 billion for "all industries," $150.16
billion for manufacturing, and $238.13 billion for nonmanufacturing industries surveyed quarterly3. Surveyed quarterly.
4. Includes industries not shown separately.
5. Consists of lumber, furniture, instruments, and miscellaneous.
6. Consists of tobacco, apparel, printing-publishing, and leather.
7. Includes construction.
8. The latest estimates for the industries surveyed annually were published in the June 1987
SURVEY. The current-dollar plans for 1987 were $441.61 billion for total nonfarm business, $296.74
billion for total nonmanufacturing, and $50.81 billion for nonmanufacturing industries surveyed
annually. The constant-dollar plans for 1987 were $432.51 billion for total nonfarm business,
$287.34 billion for total nonmanufacturing, and $51.50 billion for nonmanufacturing industries
surveyed annually.
9. "All industries" plus the part of nonmanufacturing that is surveyed annually.
10. Consists of real estate; professional services; membership organizations and social services;
and forestry, fisheries, and agricultural services.
11. Procedures for preparing constant-dollar estimates are described in the February 1985
SURVEY. Estimates reflect revised current-dollar estimates (footnote 1) and revised implicit price
deflators (see technical note). To estimate real spending plans, BEA adjusts the survey results for
assumed price changes.
SURVEY OF CURRENT BUSINESS
22
• • • • • • • • • • • • • • • • • CHART 1
New Plant and Equipment Expenditures
Percent Change
- 3 0 - 2 0 -10
0
10 20
September 1987
Table 3.—New Plant and Equipment Expenditures by Business in Constant (1982) Dollars
[Percent change from preceding year]
Planned
Actual
30 40
1987
1985
1986
ALL INDUSTRIES
AH industries 3
Other
Transportation
Oct.-Nov.
1986
survey 2
Jan.-Mar.
1987
survey 2
Apr.-May
1987
survey 2
July-Aug.
1987
survey
9.6
-2.6
0.2
1.8
2.8
1.4
Manufacturing
Durable goods
Nondurable goods
11.0
12.1
9.9
-7.8
-5.4
-9.8
-2.6
-.5
-4.4
1.3
-.9
1.8
2.3
1.4
2.0
.9
3
8.7
-7.2
7.4
1.6
13.8
1.0
-29.7
2.5
-6.0
6.9
2.1
-12.9
-.5
-5.3
5.7
2.8
-12.4
-.3
-1.3
5.6
3.4
-7.3
2.2
-2.6
6.1
1.5
-3.4
1.9
-5.5
3.7
Nonmanufacturing
Mining
Transportation
Public utilities
Commercial and other
1. Estimates reflect revised current-dollar estimates (see table 2, footnote 1) and revised implicit price deflators (see technical
«).
2. As originally published.
3. Surveyed quarterly.
Gas and Other
Utilities
Mining
Railroad
Transportation
Electric Utilities
U.S. Department of Commerce, Bureau of Economic Analysis
87-9-1
percent decline in the first. A 2.6-percent increase in second-quarter spending by nondurable goods industries
offsets a 2.4-percent decline by durables. Manufacturers plan a 6.9-percent increase in the third quarter and
a 2.1-percent increase in the fourth.
For the year 1987, manufacturers
plan to spend $146.4 billion, 2.6 percent more than in 1986; in the previous survey, a planned increase of 2.2
percent was reported. Manufacturers'
spending declined 7.0 percent in 1986,
following a 10.6-percent increase in
1985.
Durable goods industries plan a 3.0percent increase for 1987; the largest
planned increase is in blast furnacessteel works. Increases are also
planned in electrical machinery, nonferrous metals, "other durables," and
stone-clay-glass. Declines are planned
in motor vehicles, machinery (except
electrical), and fabricated metals.
Nondurable goods industries plan a
2.2-percent increase. Planned increases in textiles, "other nondurables," food-beverage, and paper more
than offset planned declines in
rubber, petroleum, and chemicals.
Real spending by manufacturers is
estimated to increase 1.4 percent in
1987—2.0 percent in durables and 0.9
percent in nondurables. In 1986, real
spending declined 7.8 percent—5.4
percent in durables and 9.8 percent in
nondurables.
The latest estimate of the real
spending increase for 1987 is smaller
than the 2.8-percent increase indicated in the previous survey not only because of the smaller current-dollar increase in the latest survey, but also
because of revisions in P&E implicit
price deflators. If restated to reflect
the revised deflators, the previously
reported increase for 1987 would have
been 1.9 percent. (See the technical
note.)
Current-dollar spending in the
second quarter of 1987 increased 0.9
percent, to an annual rate of $377.7
billion, following a 3.1-percent decline
in the first; second-quarter spending
was 3.7 percent lower than anticipated in the previous survey. Plans reported in the latest survey indicate a
5.4-percent increase in the third quarter and a 2.1-percent increase in the
fourth.
Real spending increased 0.7 percent
in the second quarter of 1987, following a 3.2-percent decline in the first.
Estimates indicate a 5.2-percent increase in the third quarter and a 1.8Nonmanufacturing programs
percent increase in the fourth.
In nonmanufacturing,
currentManufacturing programs
dollar spending increased 1.4 percent
In manufacturing, current-dollar in the second quarter of 1987, to an
spending increased 0.1 percent in the annual rate of $236.9 billion, followsecond quarter of 1987, to an annual ing a 3.5-percent decline in the first.
rate of $140.8 billion, following a 2.4- Nonmanufacturing industries plan a
4.5-percent increase in the third quarter and a 2.1-percent increase in the
fourth.
For the year 1987, nonmanufacturing industries plan to spend $242.7
billion, 2.5 percent more than in 1986;
in the previous survey, a planned increase of 3.6 percent was reported.
Downward revisions in electric utilities, gas utilities, "commercial and
other," "other transportation," and
air transportation more than offset
upward revisions in railroads and
mining. Nonmanufacturing industries' spending increased 1.3 percent
in 1986, following an 8.4-percent increase in 1985. For 1987, planned increases in "other transportation," air
transportation,
"commercial and
other," and gas utilities more than
offset planned declines in electric utilities, railroads, and mining.
Real spending by nonmanufacturing industries is estimated to increase
1.5 percent in 1987; it increased 1.0
percent in 1986. For 1987, estimated
increases in "commercial and other"
and transportation more than offset
estimated declines in public utilities
and mining.
Technical Note
P&E expenditures estimates have
been revised to incorporate new seasonal-adjustment factors from 1984 to
date and new P&E implicit price deflators (henceforth, deflators) from
1973 to date. The revised deflators, in
turn, reflect (1) revised coefficients
used to transform nonresidential
fixed investment (NRFI) estimates to
a P&E basis and (2) recently revised
estimates of current- and constantdollar NRFI. Table 4 indicates the
September 1987
SURVEY OF CURRENT BUSINESS
Table 4.—Sources of Revision of Plant and
Equipment Expenditures, 1986
[Billions of 1982 dollars]
Source
Total
revision
Season- Transformation
al
coeffifactor
cient
revirevision
sion
NIPA
revision
8.23
0.20
0
8.04
Manufacturing
2.04
-.07
-1.53
3.65
Nonmanufacturing
6.19
.27
1.53
4.39
All industries
sources of revision in real spending
for 1986 for "all industries/' manufacturing, and nonmanufacturing.
The revised transformation coefficients are based on 1977 capital flow
tables, which show use of structures
and equipment by industry (see pages
26-35 of the November 1985 SURVEY),
and tabulations from the 1977 Census
Bureau Enterprise Statistics; they
affect the distribution of real spending across industries from 1973 to
date, but not the levels of "all industries" spending. The revised NRFI estimates are based on the revision of
the NIPA's released in July 1987;
they affect the distribution of real
spending across industries as well as
the levels of "all industries" spending
from 1984 to date.
The revised deflators have resulted
in substantial revisions for some industries. Among the most widespread
revisions are those associated with
changes in the transformation coefficients relating to industry computer
usage and with revisions in the NRFI
estimates relating to computers.
An industry for which the transformation coefficients relating to computer usage increased would, ceteris
paribus, have a larger proportion of
P&E spending accounted for by computers. As a result, real spending for
the industry would be revised up for
recent years because the revised P&p
deflator would reflect the increased
weight being given to the relatively
low NRFI deflator for computers. This
effect is apparent in the 1986 revised
estimates for the nonferrous metals,
machinery (except electrical), printing-publishing, wholesale and retail
trade, and paper industries.
At the same time, real spending for
industries that purchased computers
in recent years would, ceteris paribus,
be revised up due to the downward revision of the NRFI deflator for computers in July 1987 (see page 15 of the
July 1987 SURVEY). This effect is sig-
nificant in the 1986 revised estimates
for the finance and insurance, machinery (except electrical), printingpublishing, aircraft, instruments, electrical machinery, apparel, nonferrous
metals, and wholesale and retail
trade industries.
Printouts of revised quarterly and
annual constant-dollar estimates from
1972-86 are available by writing to
P&E Survey Statistics, Business Outlook Division (BE-52), Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230, or
by calling (202) 523-0874.
23
CHART 2
Real Capital Spending
by Business, 1981-87
Billion 1982 $ (Ratio scale)
500
400-
300
200
Trends in Real Capital
Spending During the Current
Economic Expansion
The current economic expansion is
one of the longest in U.S. post-World
War II history; real GNP has increased continuously for almost 5
years. Real nonresidential fixed investment (NRFI), a component of
GNP, troughed in the first quarter of
1983 (two quarters later than GNP),
increased at a faster rate than GNP
in 1984 and 1985, and declined in
1986. For 1987, it appears likely that
NRFI will show little change, possibly
a slight decline. Real plant and equipment (P&E) expenditures, as estimated from the BEA quarterly P&E
survey, follows a broadly similar
course. P&E expenditures also
troughed in the first quarter of 1983,
increased at a faster rate than GNP
in 1984 and 1985, and declined in
1986. For 1987, the latest survey results, including plans for the second
half of the year, indicate a slight increase (chart 2).
The P&E expenditures measure of
investment can be used to identify
and analyze changes in industry investment patterns.4 An industry focus
is useful because many of the factors
that influenced investment during the
current economic expansion probably
had differential industry effects. For
example, excess production capacity
had a greater effect on investment in
some industries—such as public utilities—than in others. The wave of
mergers and acquisitions, the introduction of new technology, the con4. NRFI, in contrast, provides estimates of investment by type of structure and by type of producers'
durable equipment. NRFI also differs from P&E expenditures in data sources, coverage, and timing. For
further information, see pages 24-25 of the February
1985 SURVEY.
All Industries
Manufacturing
mnl
I I I 1 I I I I I I l I I I I I I l I 1I I I I 1 I I
1981
1982 1983 1984 1985 1986 1987
Seasonally Adjusted at Annual Rates
• Planned
U.S. Department of Commerce, Bureau of Economic Analysis
87-9-2
tinuing shift toward services and
away from manufactured goods,
changes in U.S. tax laws that affected
investment incentives, high real longterm interest rates, and sharply increased foreign competition were
other such factors. This section describes industry trends in actual real
capital spending for 1983-86 and concludes with an update for 1987 at a
more aggregate level.
1983-86.—Real capital spending increased rapidly from 1983 to 1985 in
both manufacturing and nonmanufacturing; in 1986, it declined in manufacturing but increased slightly in
nonmanufacturing (chart 2). Over the
entire period 1983-86, there was little
overall change in the importance of
manufacturing investment relative to
nonmanufacturing investment. From
1983 to 1985, manufacturing rose as a
percentage of spending by "all industries"; it then declined in 1986, to
slightly below its 1983 percentage
(table 5).
In manufacturing, durable goods industries made larger contributions to
the increases in real capital spending
in 1984 and 1985 than did nondurable
goods, while in 1986, nondurable
goods contributed about twice as
much to the decline. From 1983 to
1985, durables increased as a percentage of spending by "all industries"; it
then declined in 1986 (chart 3). From
SURVEY OF CURRENT BUSINESS
24
1983 to 1985, nondurables changed
little as a percentage of spending by
"all industries"; it then declined
sharply in 1986.
In durables, the industry with the
largest increase as a percentage of
spending by "all industries" in both
1984 and 1985 was motor vehicles, an
industry that was making major efforts to modernize during the expansion. Electrical machinery also
showed a sizable increase in 1984,
when the industry was attempting to
expand capacity to meet increasing
sales and to develop new products. In
1986, the largest decline in durables
was in machinery (except electrical);
1986 was a year of weak demand for
farm machinery, machine tools, and
computers due to sluggish economic
growth and increased foreign competition.
In nondurables, 1984 spending as a
percentage of spending by "all industries" changed little, due to several
small, offsetting changes in its component industries. In 1985, increases in
several industries were nearly offset
by a decline in petroleum, again resulting in little net change in nondurables. In 1986, increases in "other
nondurables," paper, chemicals, and
food-beverage were more than offset
by a sharp decline in petroleum. The
decline in petroleum was related to
CHART 3
Real Capital Spending by Major Industry
Group as a Percentage of Capital
Spending by "All Industries," 1981-87
Percent
501
Commercial and Other
30
Nondurable Goods Manufacturing
20
Durable Goods Manufacturing
10
Mining
Public Utilities
. Transportation
I i i i I
i I i iiI ii i I
1981 1982 1983 1984 1985
1986
• Planned
U.S. Department of Commerce, Bureau of Economic Analysis
_L
1987
s?-g-;
the weakness in crude petroleum
prices and was widespread among the
industry's production, refining and
petrochemicals, "other," and transportation functions. This decline accounted for most of the decline in
manufacturing spending in 1986;
spending by manufacturing industries
September 1987
other than petroleum declined only
1.7 percent in 1986.
In nonmanufacturing, "commercial
and other" made the largest contribution to the 3 consecutive years of increases in real capital spending. From
1983 to 1986, it increased rather
steadily as a percentage of spending
by "all industries." Within "commercial and other," two industry
groups—finance and insurance, and
wholesale and retail trade—stand out
as having consistently made significant contributions to the growth in
spending. In the past several years,
these industry groups have increased
their use of computers and other information processing equipment to
automate their operations. The two
other industry groups within "commercial and other" for the most part
contributed less strongly. As a percentage of spending by "all industries," personal and business services
(including construction) declined in
1984 and 1985 and was little changed
in 1986; communication declined in
1984, then increased in 1985 and 1986,
so that by 1986 it was slightly above
its 1983 percentage.
Real capital spending patterns in
the three other industry groups in
nonmanufacturing differed markedly
from that in "commercial and other"
during this period. As a percentage of
Table 5.—New Plant and Equipment Expenditures by Business in Constant Dollars, 1981-87
As a percentage of capital spending by "all industries"
Billions of 1982 dollars
1981
1982
1983
1984
1985
1986
Manufacturing..
Durable goods
Primary metals 3
Blast furnaces, steel works
Nonferrous metals
Fabricated metals
Electrical machinery
Machinery, except electrical
Transportation equipment 3 ..
Motor vehicles
Aircraft
Stone, clay, and glass
Other durables
Nondurable goods
Food including beverage
Textiles
Paper
Chemicals
Petroleum
Rubber
Other nondurables
135.62
120.68
63.35
7.83
3.69
2.67
3.84
11.23
14.41
16.41
10.43
3.54
3.61
6.02
55.35
6.89
3.78
1.90
3.08
11.01
13.44
12.56
7.77
3.41
2.90
5.47
119.10
53.13
5.96
3.20
1.73
2.78
11.42
13.70
11.35
7.24
2.93
2.74
5.19
143.60
66.53
7.03
3.45
2.12
3.38
14.70
15.89
16.20
11.06
3.65
3.02
6.32
159.34
74.62
7.64
4.01
1.90
3.52
15.88
17.03
19.57
14.48
3.64
3.33
7.65
146.99
70.60
7.02
3 21
1.97
3.93
14.65
14.79
18.99
13.74
4.08
3.05
8.18
72.27
10.08
1.76
6.50
13.95
28.99
2.28
8.71
65.33
8.74
1.46
5.60
12.66
26.39
2.16
8.31
65.97
7.66
1.53
5.89
13.06
26.02
2.43
9.38
77.07
8.53
1.87
7.15
15.49
30.16
3.02
10.85
84.72
9.91
1.72
8.62
16.70
31.07
3.74
12.97
76.38
10.01
1.59
8.76
17.00
20.86
3.73
14.43
Nonmanufacturing 2
Mining
Transportation
Public utilities
Commercial and other
Wholesale and retail trade.
Finance and insurance
Personal and business services '
Communication
'.
201.50
24.17
16.88
43.56
116.89
31.68
27.02
28.86
29.32
189.89
187.94
17.54
13.56
43.72
113.13
36.79
29.03
24.58
22.73
214.41
20.78
15.58
45.41
132.64
44.21
35.69
27.81
24.94
233.13
19.27
16.73
46.13
151.00
50.24
44.05
27.76
28.95
235.41
13.54
17.14
43.34
161.39
54.60
50.60
27.06
29.13
AH industries
1.
2.
3.
4.
1981
2
100.0
20.05
14.79
45.43
109.63
30.35
27.22
25.93
26.12
Based on two quarters of actual expenditures and two quarters of planned expenditures.
Surveyed quarterly.
Includes industries not shown separately.
Includes construction.
149.08
72.03
238.84
13.08
17.46
40.95
167.35
1982
1984
1985
1986
100.0
100.0
40.2
21.4
3.0
0.5
1.9
4.1
8.6
0.7
2.6
17.8
2.2
1.2
0.6
1.0
3.5
4.3
4.0
2.5
1.1
0.9
1.8
21.0
2.8
0.5
1.8
4.1
8.5
0.7
2.7
59.8
7.2
5.0
12.9
34.7
9.4
8.0
8.6
8.7
61.1
6.5
4.8
14.6
35.3
9.8
8.8
8.4
8.4
18.8
2.3
1.1
0.8
1.1
3.3
4.3
4.9
3.1
1.1
1.1
1.8
1983
38.8
17.3
1.9
1.0
0.6
0.9
3.7
4.5
3.7
2.4
1.0
0.9
1.7
21.5
2.5
0.5
1.9
4.3
8.5
0.8
3.1
61.2
5.7
4.4
14.2
36.8
12.0
9.5
8.0
7.4
40.1
18.6
20
1.0
0.6
0.9
4.1
4.4
4.5
3.1
1.0
0.8
1.8
21.5
2.4
0.5
2.0
4.3
8.4
0.8
3.0
40.6
19.0
1.9
1.0
0.5
0.9
4.0
4.3
5.0
3.7
0.9
0.8
1.9
21.6
2.5
0.4
2.2
4.3
7.9
1.0
3.3
59.9
5.8
4.4
12.7
37.0
12.3
10.0
7.8
7.0
59.4
4.9
4.3
11.8
38.5
12.8
11.2
7.1
7.4
18.5
1.8
0.S
0.5
1.0
3.8
3.9
5.0
3.6
1.1
0.8
2.1
20.0
2.6
0.4
2.3
4.4
5.5
1.0
3.8
19.9
61.6
3.5
4.5
11.3
42.2
14.3
13.2
7.1
7.6
61.6
3.4
4.5
10.6
43.1
September 1987
spending by "all industries/' mining
declined after 1984 and by 1986 was
considerably lower than in 1983. The
1986 decline was especially sharp and
was related to the weakness in crude
petroleum prices. Transportation
changed little as a percentage of
spending by "all industries" over the
period. Public utilities declined steadily as a percentage of spending by "all
industries," reflecting the completion
of many projects before 1984 and lessthan-anticipated growth in demand,
particularly for electric utilities.
1987.—The latest P&E survey results include estimates of real spend-
SURVEY OF CURRENT BUSINESS
25
ing for 1987 based on two quarters of
actual expenditures and two quarters
of planned expenditures. The estimates for 1987 indicate a continuation of the general pattern of capital
spending that has prevailed during
the current economic expansion.
Overall, estimates for 1987 indicate
little change in the relative importance of manufacturing and nonmanufacturing investment; similar increases are estimated for both sectors.
goods as percentages of spending by
"all industries." The relatively small
decline indicated in nondurables for
1987 reflects, in part, moderation of
the decline in petroleum after the
sharp decline in 1986.
In manufacturing, estimates indicate a slight increase in durable goods
and a slight decline in nondurable
In nonmanufacturing, estimates indicate another increase in "commercial and other" as a percentage of
spending by "all industries." The estimates indicate that transportation
again changes little and that the
other two industry groups decline further—mining only slightly, but public
utilities quite sharply.
By ELLEN M. HERR
Capital Expenditures by Majority-Owned
Foreign Affiliates of U.S. Companies, 1987 and 1988
M A J O R I T Y - O W N E D foreign affiliates of U.S. companies plan to decrease capital expenditures 1 percent,
to $33.4 billion, in 1988, following a
planned 3-percent increase in 1987
(table 1, chart 4).1 For the years 198387, total spending has been relatively
flat; increases in spending by manufacturing affiliates offset decreases by
petroleum affiliates. In 1988, in contrast, spending is expected to increase
in petroleum and decrease in manufacturing—by 6 percent and 2 percent, respectively. The increase in petroleum may reflect expectations that
the rise in oil prices, which began in
the spring of this year, will be maintained.
The spending estimates for the
years 1985-88 have been affected by
dollar depreciation. Depreciation of
the dollar boosts actual and planned
capital spending by raising the dollar
value of a given amount of expenditures denominated in foreign currencies. This effect may be offset, however, to the extent that depreciation improves U.S. competitiveness and shifts
expenditures from abroad to the
United States.
Actual spending for 1986 and
planned spending for 1987 are both 5
percent below levels reported 6
months earlier (table 2). The most
recent estimates for both years are
based on a survey conducted in June;
the earlier estimates are based on a
survey taken in December 1986. In
the most recent survey, the downward
revisions in both years were predominately in petroleum. In terms of yearto-year changes in total spending, the
December 1986 survey showed a 2-percent decrease for 1986, whereas the
most recent survey shows a 7-percent
decrease. Although the most recent
plans for 1987 were revised down, the
planned increase in spending—3 percent—shows no change because of the
downward revision in 1986 spending.
By area, affiliates in developed
countries plan a 1-percent decrease in
spending, to $25.7 billion, in 1988, following a 4-percent increase in 1987.
Table 1.—Capital Expenditures by Majority-Owned Foreign Affiliates of U.S. Companies, 1983-88
Billions of dollars
Percent change Yom preceding year
Most
recent
plans 1
Actual
expenuiiures
1984
plar s
1986 1987
1985 1986 > 1987
1988
3
3
2
_7
-3
-11
10
(*)
2
4
15
3
14 - 1 4
-3
-9
19 - 2
40
-11
13
10
-1
-8
-30
10
8
12
8
-5
-4
26
14
10
4
-4
1
39
(*)
-4
-5
1
-1
-8
-4
-7
11
5
-10
—1
-1
4
5
10
2
7
-4
2
-4
9
-6
7
-2
6
-6
6 -21
27
15
-2
-4
-4
-3
17
14
-20
4
-33
8
4
(*)
6
4
6
-5
8
6
16
-2
-1
2
2 -5
4
-2
4
-2
22
-5
21
3
1 -14
13
-8
-7 -25
7 -5
3
-1
4
3
-1
4
1
5
5
12
6 -11
-6
Total
Actual expenditures
Earlier
_2
1983 1984 1985 1986 l
Earlier
Most
recent
plans 1
plar s
1987 1988
36.4
34.1 34.9
32.6
33.6 33.4
1986 1987
34.3 35.3
By industry
Petroleum
Manufacturing
Food and kindred products
Chemicals and allied products
Primary and fabricated metals
Machinery, except electrical
Electric and electronic equipment
Transportation equipment
Other manufacturing
Wholesale trade
Finance (except banking), insurance,
and real estate
Services
Other industries
-8
-9
-6
6 -19
_2
6
6 -2
13
1
16
16 - 1 4
11
17
8 -2
_1 -10
-2
-8
11
5 -2
5
6
(*)
-1
-1
1
30
4
1
10
18
15 - 9
4
7
8 -7
15.9 14.1 13.7
13.6 13 6 14 9
1.2
1.1
1.2
2.7
2.4
2.3
.9
1.0
.9
3.0
3.1
3.4
1.2
1.5 1.4
3.3
2.3
2.6
2.4
2.1
1.9
2.4
2.4
2.6
4
1.5
2.4
3
1.4
2.3
.3
1.3
2.3
9.5 10.0 11.1 10.8
9.6
16.4 17.3 17.1 16.9 18.0
1.3
1.4
1.4
1.3
1.5
3.6
3.2
3.2
3.3
3.1
.8
.9
.9
.9
.9
3.3
3.0
3.2
3.0
2.9
1.5
1.4
1.3
1.4
1.4
4.3
4.2
4.3
4.2
4.1
3.1
2.8
2.9
3.1
2.7
2.6
2.5
2.6
2.8
2.6
.5
1.3
2.2
.4
1.4
2.2
.4
1.3
2.0
.4
1.4
2.1
.4
1.4
2.2
By area
NOTE.—Smith W. Allnutt designed the computer programs used in generating the estimates.
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.) For affiliates other than those engaged in natural resource exploration and development, capital expenditures include all expenditures that are charged
to capital accounts and that are made to acquire, add
to, or improve property, plant, and equipment. For affiliates engaged in natural resource exploration and
development, capital expenditures also include the full
amount of exploration and development expenditures,
whether capitalized or expensed. Capital expenditures
are on a gross basis; sales and other dispositions of
fixed assets are not netted against them. They 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 necessary data are unavailable.
26
-3
-2
25.0 24.4 25.5
6.2
6.8
6.3
16.3 15.9 16.2
13.8 13.2 14.1
1.7
1.7
1.8
2.7
3.0
2.9
6.2
5.9
5.8
3.2
3.0
3.2
2.1
2.6
2.5
1.0
.8
.7
25.0 26.0 25.7 26.0 26.8
6.4
6.7
6.5
6.6
6.6
15.6 16.6 16.3 16.8 17.4
13.7 14.3 14.0 14.7 15.1
2.1
2.0
2.1
2.0
2.2
3.7
3.3
3.6
3.4
3.2
5.5
5.4
5.5
5.0
5.4
3.8
3.6
3.2
3.3
3.5
1.6
1.6
1.5
1.4
1.6
1.1
.9
1.1
1.1
1.0
Developed countries
Canada
Europe..
European Communities (10) J
France
Germany
United Kingdom
Other
Other
Japan ...
Australia, New Zealand, and South
Africa
-12
18
4
1.7
1.5
1.5
1.7
1.8
1.6
1.8
1.9
Developing countries
Latin America
Other Africa
Middle East
Other Asia and Pacific
-4
__ 2
6
4
-22
- 8 -31
-19 -14
-18
-11
-32
-24
-19
1
C)
-1
-12
4
1
-3
2
5
5
-11
-5
-25
-12
-11
2
2
1
-6
3
10.7
3.7
1.9
.8
4.3
9.4
3.6
1.5
.7
3.5
8.9
3.9
1.5
.5
3.0
7.3
3.4
1.0
.4
2.4
7.4
3.4
1.0
.3
2.5
7.4
3.4
1.0
.4
2.7
7.9
3.7
1.1
.5
2.7
8.1
3.8
1.2
.4
2.8
International
-40
16
-25
-16
-3
-17
10
.6
.4
.5
.3
.3
.3
.4
.4
Addenda:
European Communities (12) 4
OPEC 5 .
-16
'-21
5
-3
........
-28
14.2
1.6
14.9
1.6
14.8
1.8
—3
-1
-13
13
-1
17
3
-2
....„.„.
2.4
15.3 15.8
1.8
1.9
* Less than 0.5 percent (±).
1. Based on BEA survey taken in June 1987.
2. Based on BEA survey taken in December 1986.
3. European Communities (10) comprises Belgium, Denmark, France, Germany, Greece, Ireland, Italy, Luxembourg,
Netherlands, and the United Kingdom.
4. European Communities (12) comprises European Communities (10), Portugal, and Spain.
5. OPEC comprises Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab
Emirates, and Venezuela.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
September 1987
Affiliates in developing countries plan
a 1-percent increase, to $7.4 billion,
following a similar increase in 1987.
Affiliates in "international"—those
that have operations in more than
one country and that are engaged in
petroleum shipping, other water
transportation, or operating oil and
gas drilling equipment that is moved
from country to country during the
year—plan a 3-percent decrease, to
$0.3 billion, following a 16-percent decrease.
crease in 1988, to $1.9 billion, following a 4-percent increase. In both
years, the increases reflect expenditures for exploration and development
projects in the North Sea that were
stretched out because of low oil
prices. In Italy, a sharp increase, to
$0.2 billion, follows a small increase.
Both increases are largely the result
of a refining affiliate's expenditures
to expand gasoline production facilities.
Partly offsetting these increases are
decreases planned by affiliates in
Norway and the Netherlands. NorwePetroleum
gian affiliates plan to decrease spendPetroleum affiliates plan to in- ing 3 percent, to $0.6 billion, following
crease spending 6 percent, to $10.0 a 7-percent increase. The change
billion, following a 1-percent decrease partly reflects the completion of an
in 1987. The 1988 increase, if realized, offshore platform repair project in
will mark the first year-to-year spend- 1987. In the Netherlands, affiliates
ing increase in petroleum since 1982. plan to decrease spending 23 percent,
Despite the increase, the level cur- to $0.2 billion, following a 31-percent
rently planned for 1988 remains only decrease. The 1987 decrease is primarabout one-half as large as that in ily due to the completion of pipeline
1982. In 1983, spending fell 23 per- projects in 1986. The 1988 decrease
cent, to $15.9 billion. In 1984 and largely reflects reduced construction
1985, spending declined moderately; of drilling rigs.
then, in 1986, it plunged 30 percent,
In developing countries, affiliates
to $9.6 billion, as firms sharply cur- plan to increase spending 9 percent,
tailed exploration and development to $3.5 billion, following a 1-percent
projects in response to the drop in oil decrease. The increase is widespread
prices that began in late 1985. Later by area. Indonesian affiliates plan a
estimates for 1987 and 1988 will also 27-percent increase, to $1.0 billion, folbe affected by changes in the price of lowing a 10-percent decrease. Nigerioil. If prices remain at high levels, pe- an affiliates plan a large increase, to
troleum companies may increase $0.2 billion, following a similar intheir exploration and development crease. In both countries, the 1988 inbudgets. If prices fall, however, com- creases reflect expenditures for explopanies may postpone or scale down ration and development. Brazilian afprojects planned on the basis of filiates plan a sharp increase, to $0.2
higher prices.
billion, following virtually no change
Affiliates in developed countries in 1987. The increase reflects expendiplan to increase spending 4 percent, tures for the development of a natuto $6.3 billion, in 1988, following vir- ral gas field.
tually no change in 1987. The in- Affiliates in "international" plan to
crease is more than accounted for by increase spending 5 percent, to $0.2
Canadian affiliates, which plan to in- billion, following a 25-percent decrease spending 16 percent, to $1.9 crease. Spending has been weak in
billion, following an 11-percent in- recent years due to an oversupply of
crease. Both of these increases largely tankers and mobile offshore drilling
reflect expenditures for development rigs. The partial recovery of spending
projects that were deferred or in 1988 may reflect expectations of
stretched out from 1986. Later esti- higher crude oil prices.
mates for 1988 may be revised
upward if the Canadian Government's
recent efforts to attract foreign cap- Manufacturing
ital into the oil industry result in inManufacturing affiliates plan to decreased U.S. investment there or if a crease spending 2 percent, to $17.1
U.S. company's proposed acquisition billion, in 1988, following a 6-percent
of one of Canada's largest oil compa- increase. Decreases are planned in all
nies takes place.
manufacturing industries except nonAffiliates in the United Kingdom electrical machinery and transportaand Italy also plan spending increases tion equipment. In 1987, in contrast,
in 1987 and 1988. In the United King- increases are planned in all manufacdom, affiliates plan a 3-percent in- turing industries except electrical
27
SURVEY OF CURRENT BUSINESS
Table 2.—Revisions to Capital Expenditures
Estimates, 1986-87
Percent change
from preceding
year
Millions of
dollars
Date of BEA survey: '
June 1985
December 1985
June 1986
December 1986
June 1986
Addenda:
Percent change from last
to most recent estimate
Total percent change
from first to most
recent estimate
1986
1987
40,879
39,810
35,545
34,347
32,620
n.a.
n.a.
34,926
35,317
33,627
1986
1987
2
9
2
__2
—7
n.a.
n.a.
_2
3
3
5
-20
-13
n.a. Not applicable.
1. Results of the June 1985, December 1985, June 1986, and
December 1986 surveys were published in the September 1985,
March 1986, October 1986, and March 1987 issues, respectively,
of the SURVEY OF CURRENT BUSINESS. Results of the J u n e 1987
survey are presented in this article.
CHART 4
Capital Expenditures by
Majority-Owned Foreign
Affiliates of U.S. Companies
(Ratio scale)
Billion $
60
BY INDUSTRY
50
Billion $
60
50
BY AREA
40
40
30
Total
Manufacturing
20-
30
20
Canada
Wholesale Trade
Other Developed
Countries
Services
-\
\
/ \
International
Finance (Except Banking),
Insurance, and Real Estate
.1
I
I
I
I I
I
I
I I
1983 8 4 8 5 8 6 87 8 8 1983 8 4 8 5 8 6 8 7 8 8
• Planned
Note — Estimates are for nonbank foreign affiliates of nonbank U.S.
parents.
U.S. Department of Commerce, Bureau of Economic Analysis
equipment and primary and fabricated metals.
Large decreases in 1988 are
planned by affiliates in food products
and in "other manufacturing." The
14-percent decrease in food products,
to $1.3 billion, follows a 16-percent increase and largely reflects the completion of plant construction projects
in 1987. In "other manufacturing/'
the 9-percent decrease, to $2.9 billion,
follows a 15-percent increase and
largely reflects expenditures by manufacturers in the paper and plastic
products industries. In chemicals, primary and fabricated metals, and electrical equipment, affiliates plan small
spending decreases. If realized, the 2percent decrease in chemicals, to $3.2
billion, will be the first year-to-year
decrease in that industry since 1983.
It largely reflects the completion of
plant expansion projects in 1987.
Partly offsetting these decreases
are increases planned by affiliates in
nonelectrical machinery and transportation equipment. Affiliates in
nonelectrical machinery plan to increase spending 5 percent, to $3.2 billion, following a similar increase in
1987. The increases largely reflect expenditures by a few manufacturers of
agricultural equipment to consolidate
production and improve cost efficiency. Despite excess capacity and slumping sales in the agricultural machinery industry, these manufacturers
hope to lower their costs and sales
prices enough to increase their
market shares. The increases in nonelectrical machinery also reflect expenditures by computer manufacturers for facilities to produce improved
or diversified product lines in an
effort to maintain their market
shares in the highly competitive computer market.
Affiliates in transportation equipment plan to increase spending 4 percent, to $4.3 billion, following a 1-percent increase. The increases in both
years are much smaller than the 26percent increase in 1986, partly due
to the completion of plant expansion
and modernization projects in that
year. The level of spending planned in
1988 is the highest since 1981 and
largely reflects expenditures (such as
those for automated assembly systems
and the introduction of new car
models) undertaken in an effort to
meet strong worldwide competition.
Increased competition for global
market share has stemmed from the
expansion by foreign producers, especially the Japanese, into new markets
and the entrance of newly industrial
ized countries, such as Korea, into the
export business.
By area, manufacturing affiliates in
developed countries plan to decrease
spending 1 percent, to $14.4 billion,
following a 6-percent increase. Affiliates in the Netherlands, France, and
Australia plan large decreases after
sizable increases in 1987. In the Netherlands, affiliates plan to decrease
spending 15 percent, to $0.6 billion,
following a 14-percent increase. The
increase in 1987 and subsequent decrease are mostly in "other manufacturing." They reflect expenditures for
plant expansion in 1987 by an affiliate that manufactures plastic products. French affiliates plan a 7-percent decrease, to $1.3 billion, in 1988,
following a 10-percent increase. The
changes are mostly in chemicals and
reflect the completion of a new plant
in 1987. In Australia, affiliates plan a
21-percent decrease, to $0.6 billion,
following a 20-percent increase in
1987. The changes are largely in
transportation equipment; they reflect expenditures in 1987 for a facility to manufacture a new car model.
Large spending increases in 1988
are planned by affiliates in Japan and
Spain. In Japan, affiliates plan a 21percent increase, to $0.8 billion, following an 8-percent decrease. The increase, centered in nonelectrical machinery, mainly reflects expenditures
for facilities to manufacture computers. Spanish affiliates plan large increases in both years—28 percent, to
$0.6 billion, in 1988, following a 45percent increase. The increases are
largely in transportation equipment
and reflect expenditures by one affiliate for facilities to manufacture a
new engine and by another for facilities to manufacture a line of small
automobiles.
Affiliates in the United Kingdom,
Germany, and Canada also plan to increase spending in 1988. In the
United Kingdom, a 2-percent increase, to $2.5 billion, follows an 11percent increase. The 1988 increase
largely reflects spending by a transportation equipment affiliate for facilities to manufacture engines and
transmissions. German affiliates plan
a 4-percent increase, to $2.7 billion,
following a 7-percent decrease. The increase is mostly in chemicals and
nonelectrical machinery. In Canada,
affiliates plan to increase spending 1
percent, to $3.4 billion, following a 1percent decrease. The increase, which
is in transportation equipment, reflects an affiliate's expenditures for
plant conversions to produce new car
models.
In developing countries, affiliates
plan a 5-percent decrease, to $2.7 billion, following a 7-percent increase.
Decreases are widespread by area but
are largely in Brazil, Argentina, and
Venezuela. In Brazil, affiliates plan to
decrease spending 2 percent, to $1.1
billion, following a 17-percent increase; small increases in chemicals
and transportation equipment are
more than offset by small decreases
in all other manufacturing industries.
Mexican affiliates plan a 2-percent
decrease, to $0.6 billion, following a 7percent decrease. In 1988, affiliates in
all manufacturing industries except
chemicals and transportation equipment plan decreases. In 1987, the decrease is concentrated in transportation equipment. It partly reflects the
completion of projects—the construction of a new plant and the expansion
of another—in 1986. In both years, decreases may also reflect the devaluation of the peso relative to the
dollar, which lowered the cost, in
dollar terms, of a given amount of
capital investment in Mexico.
Other industries
Affiliates in all other industries
combined plan a 7-percent spending
decrease to $6.4 billion, in 1988, following a 3-percent increase.
Affiliates in wholesale trade plan to
decrease spending 7 percent, to $2.6
billion, following an 8-percent increase. The 1988 decrease is centered
in Canada. It reflects decreased expenditures by an automobile wholesaler for a new building that is nearing completion. The 1987 increase is
largely in Switzerland, Japan, and
Germany. In Switzerland, the increase mainly reflects the 1987 purchase of shipping vessels by a grain
wholesaler.
Spending by affiliates in finance
(except banking), insurance, and real
estate is expected to decrease 8 percent, to $0.4 billion, following a 5-percent decrease. The 1988 decrease is
mostly in the United Kingdom and reflects the completion of building modernization projects in 1987.
Affiliates in services plan a 4-percent decrease, to $1.3 billion, following a 1-percent increase. The decreases are largest in Australia and
France.
Affiliates in "other industries"—agriculture, construction, public utilities, mining, and retail trade—plan a
7-percent spending decrease, to $2.0
billion, following a 1-percent decrease.
In both years, the largest decreases
are in Hong Kong. They reflect the
winding down of a project to con-
struct power generating facilities. Colombian affiliates also plan a sizable
spending decrease in 1987 due to the
completion in 1986 of a mine-to-port
railway system.
Tables 3-5, which provide detailed
country-by-industry estimates of capital
expenditures for each year 1986-88,
follow.
Table 3.—Capital Expenditures by Majority-Owned Affiliates of U.S. Companies in 1986 ]
[Millions of dollars]
All countries
Developed countries
Canada
. . . .
Europe
European Communities (12)
.
Belgium
Denmark
France
Germany
Greece
Ireland
.
Italy
Luxembourg
.
Netherlands
.
Portugal
.
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
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
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Other Africa
Saharan
aes
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel.
Saudi Arabia
United Arab Emirates
Other..
Other Asia and Pacific
Hong Kong
IndiaIndonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other.
International
Addendum—OPEC 2
All
industries
Petroleum
9,606
16,392
1,309
3,061
945
2,858
1,375
4,121
2,723
2,616
470
1,334
2,202
6,055
1,488
3,829
3,112
13,724
3,432
8,897
8,664
1,071
2,632
2,526
1,466
624
487
1,495
1,442
664
210
1,367
1,025
67
5
213
415
3
45
118
(D)
132
(D)
(D)
376
53
10
2
(D)
10
14
66
48
215
151
2
15
92
4
70
11
40
311
342
36
27
69
52
154
2
2
400
77
252
229
4
(*)
1,150
30
113
309
285
3
24
115
1
396
8
64
3,460
1,378
1,837
1823
2,171
518
933
140
660
616
(D)
2
56
262
(*)
38
66
(D)
14
(D)
19
104
44
(D)
0
(D)
1
10
(D)
2,321
210
780
763
67
19
74
104
3
21
44
0
126
7
33
267
16
2
0
(*)
5
8
1
0
9
73
64
3
6
782
343
399
389
11
2
36
153
0
6
17
3
62
(*)
14
87
10
(*)
240
845
779
28
19
142
86
1
3
59
0
45
g
23
365
67
10
6
4
6
40
(*)
(*)
25
40
36
1
3
861
429
416
4
1
60
105
(*)
(*)
9
70
46
27
19
5
2
(*)
1
0
183
117
48
4
18
1
10
2
C)
0
8
C)
3
4
11
1
8
C)
2
13
1
21
10
7
4
47
23
1
4
2
0
1
17
2
1
653
288
215
13
25
41
104
1
9
12
10
34
5
3
25
39
(*)
1,166
49
451
4,997
1,394
104
46
731
171
280
44
16
1,067
1,696
1,486
80
130
7,317
3,447
2,329
295
1,228
115
449
45
52
119
26
826
711
49
67
292
56
10
27
5
124
3
65
1,033
592
453
84
56
532
30
1,296
2,738
12
201
602
129
628
22
321
1,763
2,154
716
14
10
627
15
7
29
14
150
588
534
10
44
233
39
4
30
91
58
13
(*)
704
691
613
29
49
3,297
2,668
2,027
1,328
720
533
78
102
6
281
35
20
6
6
34
3
24
7
153
28
1
2
0
116
1
4
925
559
441
81
441
6
115
319
394
35
67
209
83
37
366
4
105
257
297
0
14
207
76
2,443
1,354
366
30
934
331
101
191
78
165
78
168
22
1
851
221
26
43
1
(*)
49
140
337
255
1,600
1,326
163
972
53
47
4
8
77
5
668
647
2
19
30
2
0
20
(*)
2
(*)
6
45
24
9
0
238
206
173
49
72
1
9
C)
C)
37
3
32
25
1
6
1
0
0
H
W
(•)
0
(*)
9
2
1
0
1,788
1,756
219
2
276
256
6
53
127
(D)
237
(D)
88
396
32
2
2
2
14
12
1
0
o
(*)3
7
0
0
104
222
201
4
17
20
19
15
(*)
4
428
328
240
52
151
2
17
2
5
11
(•)
65
61
1
3
23
2
0
(D)
0
(*)
0
(D)
12
4
163
152
131
(D)
72
(D)
5
0
1
2
0
20
19
4
0
15
21
0
5
16
24
18
2
0
4
573
23
29
29
100
54
123
59
130
17
8
(*)
7
0
0
7
0
0
0
0
0
23
1
0
2
1
10
4
2
2
1
1
(•)
8
0
4
4
2
2
(*)
0
117
39
21
C)
86
3
12
4
3
23
13
6
11
5
6
(•)
1
(*)
0
0
0
(•)
0
0
0
6
218
1,939
1,875
46
0
583
521
0
31
183
(D)
57
(*)
(D)
400
64
(D)
0
(D)
52
5
0
o
(D)
D
()
18
(*)
(D)
332
270
195
(D)
174
(D)
C)
0
0
(*)
(*)
76
76
0
0
0
0
0
0
0
0
0
0
0
O
(*)
C)
0
C)
O
0
0
6
C)
0
(•)
0
0
(*)
1
1
0
0
(•)
61
2
(°)3
(DD)
()
0
(D)
2
(*)
0
C)
C)
C)
5
1
3
C)
o
1,027
0
8
47
0
1
(D)
78
524
14
7
o0
5
2
o
o
(D)
(*)
2
(D)
243
(D)
(D)
2
(D)
(D)
5
12
144
173
126
25
21
442
153
91
1
88
1
(*)
1
0
1
(*)
59
58
0
1
3
0
0
0
0
0
(*)
3
1
0
661
632
273
8
261
(*)
1
(*)
0
2
(*)
359
359
0
0
0
0
0
0
0
0
0
0
(*)
0
403
286
226
27
154
3
13
1
2
24
2
57
49
1
7
3
0
0
(D)
0
1
0
D
()
17
(D)
445
250
177
18
107
12
8
3
15
12
4
61
46
9
7
11
1
(*)
1
(*)
2
0
6
20
5
0
0
0
1
0
0
1
16
15
1
0
0
272
12
(D)
(D)
0
87
17
52
24
71
6
C)
3
1
3
W
O
58
122
12
10
(D)
(D)
46
0
3
1
0
4
0
(D)
( )
0
0
0
0
(DD)
()
0
(D)
2
1
1
2
C)
3
(D)
(D)
0
0
C)
3
14
0
4
10
20
14
2
2
2
157
55
0
15
6
8
19
14
30
7
3
3
48
38
0
O
0
0
(*)
4
0
0
0
4
26
0
0
0
0
C)
C)
0
0
98
5
(D)
(D)
6
4
1
(D)
(°)4
5
22
(*)
1
2
o5
o
(*)
191
23
o
o
o3
20
o
(•)
6
66
51
14
1
(•)•
(
*
)
C)
4
1
C)
0
1
4
0
0
4
1
(*)
C)
1
C)
0
1
C)
C)
1
51
3
47
C)
0
C)
19
7
(*)
(*)
(*)
3
3
(*)
5
C)
(*)
1
4
(•)
4
(*)
1
63
C)
(•)
14
4
0
C)
0
C)
o
o2
21
213
13
6
o
1
4
2
(*)
(*)
38
138
126
(*)
12
C)
C)
1
4
0
32
37
2
0
2
0
35
2
C)
32
2
0
2
(•)
(•)
327
255
0
38
4
10
1
C)
(*)
1
17
82
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 1.
2. See footnote 5, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
Other
industries
32,620
18
245
878
134
. ..
Services
24,966
6,584
15,619
14,225
2,027
3 386
. . . .
Total
Manufacturing
Finance
(except
Electric
banking),
WholeMaPrimary
ChemiTransand
Food
insursale
Other
chinery,
and
cals and
portation
elecand
ance,
trade
manuexcept
fabriallied
equiptronic
kindred
and real
facturing
eleccated
ment
equipproducts products metals
estate
trical
ment
55
SURVEY OF CURRENT BUSINESS
30
September 1987
Table 4.—Capital Expenditures by Majority-Owned Affiliates of U.S. Companies in 1987 ]
[Millions of dollars]
Manufacturing
All
industries
AH countries
Developed countries
Canada
Europe
European Communities (12)
Belgium
Denmark
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
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
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean....
Other
Other Africa
Saharan
Egypt
Libya
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
Israel
Saudi Arabia
United Arab Emirates
Other
Other Asia and Pacific
Hong Kong
India
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other
International
Addendum—OPEC
2
Petroleum
Total
Food
and
kindred
products
Chemicals and
allied
products
Primary
and
fabricated
metals
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Wholesale
trade
33,627
9,482
17,346
1,524
3,291
874
2,992
1,357
4,162
3,145
2,833
25,979
6,563
16,566
6,039
1,650
3,661
2,881
30
56
247
233
4
29
124
1
272
7
47
1,830
14,484
3,395
9,635
9,334
573
31
1,431
2,544
13
271
745
115
715
37
465
2,395
300
59
6
14
90
101
31
C)
646
808
734
33
41
1,262
244
932
2,805
502
2,001
1,960
243
2
371
279
6
54
147
(D)
235
(D)
81
466
708
219
456
447
13
2
37
147
0
7
27
4
71
C)
27
113
2,600
236
2,022
1,962
107
0
544
569
0
43
(D)
(D)
43
(D)
65
351
888
3,577
1,438
1,741
1,687
(D)
1
73
849
0
6
(D)
0
1
2
169
482
2,367
352
1,645
41
2
4
2
16
17
C)
0
9
C)
0
C)
2
7
0
0
60
1
0
5
48
5
0
0
173
596
577
(D)
2
67
189
1
45
56
3
31
(D)
20
136
20
6
0
0
1
11
1
0
2,644
582
1,886
1,792
102
7
260
401
4
50
142
34
231
8
60
494
94
(D)
2
6
10
107
(D)
1,220
69
53
249
214
2
19
113
1
73
18
42
365
425
34
30
22
54
281
1
2
228
143
99
21
23
2,862
2,128
1,479
135
1,142
39
48
6
9
94
6
625
601
3
22
24
2
0
16
(*)
2
C)
263
214
14,950
698
162
2,154
3,232
21
324
1,046
117
1,141
75
585
5,395
1,616
124
55
710
178
457
71
22
1,046
1,804
1,588
90
126
7,366
3,448
2,438
283
1,427
107
319
50
87
137
29
802
674
59
69
207
26
16
23
6
87
4
45
1,026
476
363
72
40
550
7
181
362
345
47
88
149
60
2,547
302
30
844
459
132
209
79
185
128
178
780
18
11
668
18
116
612
536
25
51
3,252
619
494
95
100
6
1
2
0
79
4
4
918
452
351
70
31
466
4
156
306
236
0
33
148
55
1,479
34
1
769
358
35
52
1
C)
91
137
282
191
1,553
1,251
55
14
8
0
5
41
0
910
30
17
79
110
3
66
97
0
102
9
42
354
23
3
0
(*)
116
186
167
5
14
172
41
86
1
12
1
1
28
2
486
346
243
34
169
3
19
2
5
10
40
34
1
5
2
0
0
C)
C)
(*)
0
1
11
2
1
0
1
9
0
0
9
35
31
(*)
0
4
644
26
29
16
87
79
129
72
170
19
18
0
0
0
0
0
38
1
0
2
1
17
5
7
2
1
1
139
31
• Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 1.
2. See footnote 5, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
Machinery,
except
electrical
()
22
D
166
153
129
9
81
(D)
3
0
1
392
333
255
17
238
0
C)
0
0
C)
C)
78
78
0
0
0
0
0
0
0
0
0
0
2
2
C)
0
C)
109
4
11
9
4
21
7
12
25
7
7
12
11
(*)
143
77
2
71
1
C)
2
0
2
(*)
65
64
0
2
1
0
0
0
0
0
1
0
0
0
0
1
0
0
1
27
27
(*)
0
0
297
14
4
C)
74
33
66
32
67
7
C)
54
(D)
0
0
D
0
D
( )
( DD )
( )
1
585
558
305
10
281
1
C)
0
C)
253
253
0
0
0
0
0
0
0
0
0
0
(*)
0
0
0
0
C)
0
0
(*)
4
0
0
0
4
24
j)
0
0
2
4
0
0
()
C)
78
98
79
7
13
501
381
298
23
216
1
12
1
2
40
3
78
67
1
9
5
0
0
(D)
0
1
0
(D)
7
4
0
0
4
3
0
1
1
C)
0
0
111
4
(D)
3
5
5
2
18
56
2
Finance
(except
banking),
insurance,
and real
estate
Services
1,350
1,177
56
256
234
2
C)
5
27
(*)
1
2
0
5
0
(*)
192
23
0
0
0
3
20
0
C)
11
262
63
51
10
1
49
45
(*)
4
842
764
22
19
127
100
1
4
56
0
54
13
28
340
79
9
8
5
10
46
(*)
C)
23
174
107
46
11
14
1
4
2
(*)
12
1
35
7
23
4
213
19
139
10
9
3
17
12
4
74
55
12
7
11
1
(*)
1
(*)
2
0
6
26
14
1
3
3
0
(*)
5
2
1
1
(*)
0
1
C)
C)
1
51
2
48
(•)
C)
14
3
0
C)
0
C)
2
(*)
3
12
0
2
10
18
14
2
1
1
132
47
0
15
10
8
23
2
10
13
5
35
5
(*)
4
C)
(*)
Other
industries
SURVEY OF CURRENT BUSINESS
September 1987
31
Table 5.—Capital Expenditures by Majority-Owned Affiliates of U.S. Companies in 1988 1
[Millions of dollars]
Manufacturing
All countries
Developed countries
Canada..
Europe...
European Communities (12)
Belgium
Denmark
France
Germany
Greece
Ireland
Italy
Luxembourg
Netherlands
Portugal
Spain
United Kingdom
Other Europe
Austria
Finland
Norway
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
Jamaica
Netherlands Antilles
Trinidad and Tobago
United Kingdom Islands, Caribbean
Other
Other Africa
Saharan
Other
Sub-Saharan
Liberia
Nigeria
Other
Middle East
IsraelSaudi Arabia
United Arab Emirates
OtherOther Asia and Pacific
Hong Kong
India...
Indonesia
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Other..
I n terns! ional
A 111*
VI.
llOilVllUI
Addendum—OPEC
2
Electric
and
electronic
equipment
Transportation
equipment
Other
manufacturing
Finance
(except
Whole- banking),
insursale
ance,
trade
and real
estate
Food
and
kindred
products
Chemicals and
allied
products
17,079
1,314
3,212
852
3,151
1,346
4,340
2,864
2,629
411
1,297
2,020
14,367
3,415
9,530
9,275
497
29
1,332
2,654
7
248
667
165
609
17
596
2,453
255
49
6
10
85
95
10
(•)
781
642
580
26
35
1,145
218
835
829
24
18
78
116
1
55
61
0
97
5
43
332
6
(*)
0
2,670
454
1,925
1,894
209
2
287
364
5
44
144
(D)
229
(D)
88
460
31
2
4
2
15
7
(*)
0
116
175
160
5
10
721
172
516
507
13
1
40
170
0
6
18
4
69
2,790
221
2,114
2,054
123
0
531
626
0
58
898
177
556
542
9
2
62
183
1
34
51
4
21
3,722
1,552
1,947
1,862
2,421
621
1,637
1,587
C)
5
227
396
1
45
2,197
240
1,606
1,209
60
58
272
225
2
15
112
3
68
15
38
341
397
33
26
22
58
255
1
2
206
145
109
19
17
362
64
232
210
2
(*)
6
25
(*)
1
2
0
6
0
(*)
167
22
0
0
0
3
19
0
1,133
272
801
745
20
19
116
98
(*)
3
53
0
56
7
19
354
55
5
1,423
814
476
466
3
2
97
84
(*)
(*)
5
0
27
0
2
244
10
3
0
2
3
2
C)
C)
7
59
48
10
1
25
35
31
2,713
2,018
1,384
107
1,120
26
37
4
10
74
6
611
589
2
19
23
2
0
14
168
139
112
29
50
(*)
6
(*)
1
25
2
25
20
1
4
2
0
0
(*)
131
119
102
1
71
(D)
3
0
1
(D)
0
17
16
431
275
194
15
128
10
8
3
15
11
4
70
54
9
7
11
1
49
27
8
2
4
1
(*)
(*)
0
n2
164
99
47
13
12
2
4
2
1
12
1
27
6
16
4
25
8
1
3
9
0
C)
5
524
313
248
14
34
54
114
1
9
13
9
30
6
3
21
34
C)
C)
543
402
291
33
218
2
16
2
7
12
(*)
. 94
89
(*)
5
16
2
0
(D)
0
2
1
25
2
All
industries
Petroleum
Total
33,445
10,010
25,742
6,727
16,298
14,796
607
162
2,042
3,315
13
292
1,017
169
973
48
706
5,452
1,502
106
43
682
170
419
64
19
1,117
1,600
1,383
99
117
6,261
1,922
3,654
2,891
24
54
219
229
3
25
177
1
209
8
51
1,892
763
16
11
649
11
8
53
16
91
595
505
36
54
7,430
3,359
2,430
232
1,459
100
347
49
92
115
36
778
660
44
74
151
33
9
21
13
27
2
46
1,045
345
237
72
36
700
4
237
459
362
54
83
169
56
2,664
188
33
1,060
472
121
190
89
176
114
222
3,547
628
549
81
161
6
184
38
58
4
17
32
4
10
18
48
21
1
2
0
19
2
3
965
327
228
70
29
638
4
229
405
234
0
16
168
50
1,720
21
1
981
375
27
43
1
(*)
83
189
274
201
1,814
1,535
(*)
4
34
9
6
0
3
25
0
6
19
36
31
1
0
4
626
22
32
16
87
72
123
82
161
19
12
n5
1
(*)
0
3
89
82
3
4
0
1
12
1
1
0
(*)
10
0
0
10
0
0
0
0
0
17
C)
DO
10
1
1
0
(*)
9
0
5
4
2
2
C)
O
0
(*)
129
3
14
13
5
21
9
24
25
6
8
26
33
C)
0
(*)
1
9
4
1
2
(*)
C)
34
151
9
C)
0
1
1
7
0
0
(D)
(D)
(D)
(D)
3
C)
1
C)
0
0
0
(*)
0
0
0
6
4
3
0
C)
(D)
42
(D)
60
386
60
1
0
5
49
5
0
0
(D)
(D)
20
(°)6
361
304
232
(°)
211
0
(*)
0
0
(D)
(')
72
72
0
0
0
0
0
0
0
0
0
0
(*)
(*)
4
0
1
(*)
0
0
0
(*)
0
0
(*)
1
1
0
0
(*)
56
2
7
1
2
1
39
0
3
2
0
3
1
2
0
0
2
C)
C)
C)
0
0
6
O
0
(*)
O
(*)
O
17
157
14
6
0
0
1
6
1
0
153
12
11
(•)
108
799
0
7
45
0
2
(D)
537
85
429
50
P)0
(D)
0
6
(D)
0
2
221
D
((D)
)
C)
1
618
593
312
(D)
292
(D)
1
C)
0
1
C)
2
2
8
(D)
448
124
66
2
61
1
(•)
(°)
149
(?)
C)
0
(D)
C)
58
57
0
1
1
0
0
0
0
0
C)
C)
1
0
0
0
0
1
0
0
1
28
27
1
0
0
295
14
281
281
0
0
0
0
0
0
0
0
0
0
(D)
(D)
(*)
75
35
63
35
(D)
9
(*)
0
0
(*)
3
4
(D)
0
0
2
9
(•)
0
0
0
0
0
0
4
0
0
0
4
21
0
(D)
(*)
59
104
88
5
11
443
336
269
13
215
2
10
1
1
24
3
64
55
1
8
4
0
0
(D)
0
1
0
C)
1
C)
4
6
1
18
(D)
2
4
2
0
6
16
5
2
(*)
3
11
0
1
10
24
20
2
1
1
115
46
0
15
7
8
18
2
10
6
3
28
33
5
2
0
0
2
3
0
1
2
1
1
C)
0
0
101
3
(°)2
C)
0
9
4
5
10
1
7
C)
2
(*)
(*)
2
1
0
1
2
0
0
2
1
1
C)
0
C)
19
7
(*)
(•)
Services
H
10
40
4
1
(*)
0
Other
industries
(*i
7
125
111
8
6
n
ci2
4
0
28
0
2
0
24
(*)
O
51
2
48
(*)
C)
(*)
24
16
0
16
(*)
O
n
C)
1
4
(*)
4
C)
171
89
0
48
3
10
1
(*
(*)
1
17
o
63
80
3
3
C)
5
13
3
0
O
0
72
102
* Less than $500,000.
D
Suppressed to avoid disclosure of data of individual companies.
1. See footnote 1, table 1.
2. See footnote 5, table 1.
NOTE.—Estimates are for majority-owned nonbank foreign affiliates of nonbank U.S. parents.
Machinery,
except
electrical
Primary
and
fabricated
metals
By RUSSELL C. KRUEGER
U.S. International Transactions, Second Quarter 1987
THE U.S. current-account deficit in-
creased $4.3 billion to a record $41.1
billion in the second quarter. 1 The
merchandise trade deficit increased
slightly, as imports increased more
than exports. The net service surplus
decreased sharply: Receipts fell due to
lower capital gains in income on U.S.
direct investment abroad, and payments of income on other private investment increased strongly. Net unilateral transfers decreased.
1. Quarterly estimates for U.S. current- and capitalaccount components are seasonally adjusted when statistically significant seasonal patterns are present.
In the private capital accounts,
bank-reported flows dominated. U.S.
bank-reported claims on foreigners increased strongly in April, partly because of a more rapid increase in
short-term Eurodollar interest rates
than in U.S. rates. U.S. bank-reported
liabilities also increased strongly,
largely related to the increase in
claims.
In securities transactions, net foreign purchases of U.S. corporate
stocks remained at near record levels,
and bonds newly issued abroad by
U.S. corporations slowed somewhat.
Net sales of U.S. Treasury securities
by private foreigners continued, espe-
cially early in the quarter when the
dollar depreciated. There were small
net U.S. sales of foreign securities;
net U.S. purchases of foreign stocks
were lower, mostly because of net
sales in Japan, and there was a shift
to small net U.S. sales of foreign
bonds.
Outflows for U.S. direct investment
abroad decreased, as reinvested earnings fell because of lower capital
gains. Inflows for foreign direct investment in the United States decreased moderately, but remained
strong.
Foreign official assets in the United
States continued to increase, primari-
Table A.—Summary of U.S. International Transactions
[Millions of dollars, seasonally adjusted]
Line
Exports of goods and services (1)
Merchandise, excluding military (2)
Other goods and services (3-14)
93,241
56,534
36,707
93,891
57,021
36,870
98,953
56,992
41,961
99,981
59,975
40,006
1,028
2,983
-1,955
-123,128 -125,490 -127,730
-90,579 -93,649 -95,616
-32,549 -31,841 -32,114
-132,634
-95,749
-36,885
-138,174
-99,500
-38,674
-5,540
-3,751
-1,789
93,540
56,928
36,612
-460,550
-338,083
-122,467
-498,501
-368,700
-129,801
-122,153
-88,856
-33,297
U.S. Government grants (excluding military grants of goods and services) (32)
Remittances, pensions, and other transfers (33, 34)
-11,222
-4,079
-11,773
-3,885
-2,078
-943
-3,249
-918
U.S. assets abroad, net (increase/capital outflow ( —)) (35)
U.S. official reserve assets, net (36)
U.S. Government assets, other than official reserve assets, net (41)
U.S. private assets, net (45)
-31,399
-3,858
-2,831
-24,711
-95,982
312
-1,920
-94,374
-13,770
-115
-240
-13,415
129,872
-1,140
131,012
213,386
178,689
17,920
23,947
Allocations of special drawing rights (64)...
Statistical discrepancy (65)
p
IV
92,134
53,878
38,256
II"
Change:
1987 I-II
III
372,807
224,361
148,446
Foreign assets in the United States,net (increase/ capital inflow ( + )) (50)
Foreign official assets, net (51)
Other foreign assets, net (58)
r
1986
359,458
215,935
143,523
Imports of goods and services (16)
Merchandise, excluding military (17)
Other goods and services (18-29)
1987
1986
Lines in tables 1, 2, and 10 in which transactions are included are indicated in ( )
-2,987
-1,151
-2,086
-1,017
-1,991
-913
95
104
-25,529
16
-242
-25,303
-3,459
-875
-24,478
280
-1,454
-23,304
-32,204
132
15
-32,351
15,533
1,956
225
13,352
-21,510
3,419
-182
-24,747
-37,043
1,463
-407
-38,099
36,322
2,576
33,746
49,042
15,568
33,475
69,591
15,551
54,040
58,431
1,003
57,428
26,754
13,953
12,802
45,050
9,389
35,661
18,296
-4,564
22,859
10,488
10,241
-8,530
11,750
-5,504
17,557
23,061
Revised.
Preliminary.
Table B.—Selected Transactions with Official Agencies
[Millions of dollars]
1987
1986
1985
Line
1986
I
1 Changes in foreign official assets in the United States, net (decrease — Ktable 1, line 51)
2
Industrial countries '
3
Members of OPEC 2
4
Other countries
Changes in U.S. official reserve assets, net (increase - ) (table 1, line 36)
II
Ir
IV
III
II"
Change:
1987 I-II
-1,140
1,574
-6,709
3,995
34,698
28,572
-8,508
14,634
2,576
-464
1,876
1,164
15,568
11,785
-2,166
5,949
15,551
13,174
-3,023
5,400
1,003
4,077
-5,195
2,121
13,953
16,695
-2,901
159
9,389
16,606
-2,626
-4,591
-4,564
-89
275
-4,750
-3,858
312
-115
16
280
132
1,956
3,419
1,463
-500
143
-643
198
642
-444
75
75
212
421
-209
-89
146
-235
27
225
-198
5
Activity under U.S. official reciprocal currency arrangements with foreign monetary
authorities: 3
Foreign drawings, or repayments ( —), net
6afi
Drawings
6b
Repayments
r
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.
p
32
-27
-225
198
Table C—Indexes of Foreign Currency Price of the U.S. Dollar
[1977 = 100]
1987
1986
Trade-weighted average against 22 OECD currencies
Trade-weighted average against 10 currencies
1
2
Selected currencies: 3
Canada
United Kingdom
European Monetary System currencies:
Belgium
France
Germany
Italy
Netherlands
Switzerland
Japan
III
IV
147.1
141.3
144.3
110.4
104.7
103.4
130.4
115.5
127.7
145.2
96.6
173.9
102.9
77.7
63.2
162.1
95.7
70.2
58.0
86.3
156.8
92.3
69.3
59.7
1986
June
July
Aug.
Sept.
144.9
137.4
96.5
93.7
126.0
113.1
125.5
106.2
106.3
124.6
79.2
147.4
84.5
64.4
57.0
146.7
82.9
62.1
53.1
106.7
130.9
115.6
130.1
115.7
130.8
117.3
130.6
118.6
130.8
122.2
130.6
122.4
119.1
136.7
88.7
160.3
94.6
69.2
57.4
118.1
135.9
87.8
102.4
76.6
62.4
123.3
140.9
92.6
166.9
98.7
72.6
59.0
116.1
133.4
86.3
156.7
92.3
68.4
58.3
117.1
134.7
87.1
158.0
93.1
70.2
60.6
1
1. Australia, Austria Belgium-Luxembourg. Canada, Denmark, Finland, France, Germany,
Greece, Iceland, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Spain,
Sweden, Switzerland, Turkey, United Kingdom. Data: U.S. Department of the Treasury. End-ofmonth rajtes for months; averages of end-of-month rates for quarters. Index rebased by BEA.
ly reflecting accumulations of U.S.
dollars by foreign monetary authorities from exchange market intervention. U.S. official reserve assets decreased, mostly from intervention
sales of foreign currencies.
The statistical discrepancy (errors
and omissions in reported transactions) was an inflow of $17.6 billion.
U.S. dollar in exchange markets
In the second quarter, the U.S.
dollar depreciated 3 percent on a
trade-weighted quarterly average
basis against the currencies of 10 industrial countries, but appreciated
slightly—less than 1 percent—against
the currencies of 22 OECD countries
(table C, chart 5).
The dollar was under heavy downward pressure from the beginning of
the quarter through mid-May, and depreciated rapidly despite intervention
purchases of dollars by U.S. and foreign monetary authorities. The depreciation reflected concerns over U.S.
protectionist measures, the continued
large U.S. current-account deficit, and
some hesitancy on the part of foreign
investors to increase holdings of
dollar-denominated assets. The depreciation was discussed by monetary officials of major industrial countries in
Washington in early April and again
in June at the Economic Summit in
Venice. At both meetings, participants reaffirmed their commitment to
foster exchange rate stability.
The dollar strengthened during the
second half of the quarter (except
during two brief episodes when the
dollar dipped and U.S. and foreign authorities intervened to buy dollars),
ending the quarter near its beginning
level against most currencies. Capital
inflows beginning in mid-May in response to wide interest rate differentials in favor of U.S. dollar assets contributed to the strengthening of the
1987
57.6
Jan.
Feb.
143.7
137.6
138.4
103.0
97.7
Oct.
|
115.8
107.6
85.4
65.0
57.6
91.5
69.3
60.3
|
Mar.
Apr.
May
June
125.6
114.1
106.9
126.3
104.6
126.1
109.5
105.2
123.5
78.5
146.3
83.8
64.1
57.1
106.0
124.2
79.0
147.3
84.4
64.1
56.4
104.8
122.7
78.0
146.0
83.2
62.3
53.2
103.2
121.5
76.9
145.6
82.0
61.2
52.3
123.5
78.2
148.5
83.4
62.8
53.8
1
|
2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, United
Kingdom. Data: Federal Reserve Board. Monthly and quarterly average rates. Index rebased by
BEA.
3. Data: Federal Reserve Board. Monthly and quarterly average rates. Indexes prepared by
BEA.
dollar, as did tighter monetary conditions in the United States and somewhat more relaxed conditions in
Japan and Germany (chart 6). The
strengthening also may have reflected
perceptions by exchange market participants that the major industrial
countries were likely to coordinate actions to reduce currency fluctuations.
Inflows of capital following increased
political tensions in the Middle East
also may have contributed to the
strengthening of the dollar.
For the quarter, the dollar depreciated 7 percent against the Japanese
yen. Rapid depreciation, which began
late in the first quarter, continued
through mid-May despite exchange
market intervention by Japanese and
U.S. monetary authorities. A shift by
Japanese investors from dollar-denominated assets to assets denominated in yen and other currencies contributed to rapid widening of U.S.Japanese interest rate differentials,
as U.S. rates rose and Japanese rates
CHART 5
Indexes of Foreign Currency Price of the U.S. Dollar (1977 = 100)
170
TRADE-WEIGHTED AVERAGES
160
100
90
I I I I I I I l I I I
1984
1985
1986
I I I I I I I I I I I
1987
1. Australia, Austria, Belgium-Luxembourg, Canada, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, I
Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, and United Kingdom.
Data: U.S. Department of the Treasury. End-of-month rates. Index rebased by BEA.
2. Belgium, Canada, France, Germany, Italy, Japan, Netherlands, Sweden, Switzerland, and United Kingdom.
Data: Federal Reserve Board. Monthly average rates. Index rebased by BEA.
U.S. Department of Commerce, Bureau of Economic Analysis.
, Japan, Netherlands, New
34
SURVEY OF CURRENT BUSINESS
fell. After mid-May, actions by Japanese authorities to stimulate the domestic economy, to permit short-term
interest rates to ease, and to advise
Japanese foreign currency traders
and financial institutions to refrain
from speculation contributed to a
strengthening of the dollar. Subsequently, investment reflows from
Japan into high-yielding U.S. assets
and the unwinding of hedges against
the dollar provided further strength
to the dollar.
For the quarter, the dollar depreciated 6 percent against the British
pound, 4 percent against the Swiss
franc, and 1 to 2 percent against the
European Monetary System currencies. The dollar depreciated 1 percent
against the Canadian dollar.
Exports.—Exports increased $3.0
billion, or 5 percent, to $60.0 billion;
volume increased 4 percent. The increase in value was broadly based,
both by end-use commodity category
and destination. In terms of volume,
most major categories showed increases: Foods, feeds, and beverages
increased 9 percent; industrial supplies and materials, 4 percent; capital
goods other than civilian aircraft, 5
percent; and consumer goods, 7 percent. Exceptions were automotive
products and civilian aircraft.
Agricultural exports increased $0.6
billion, or 9 percent, to $7.1 billion;
volume increased 8 percent. Corn and
wheat increased sharply in response
to lower U.S. prices and lower production by other exporters. Much of the
increase was to the Soviet Union,
which made its first substantial purchase of U.S. grain in 2 years. Grain
received under the Export Enhancement Program permitted U.S. exporters to offer the Soviet Union competitive export prices. Grain exports to
the Soviet Union under this program
are expected to continue for several
more quarters. Cotton exports were
also up strongly in response to tight
world supplies. Agricultural prices increased 1 percent on average for the
second consecutive quarter, in contrast to rapidly falling prices in 1986.
Increased agricultural prices were
part of a general rise in commodity
prices this year, as shown in chart 7.
Nonagricultural exports increased
$2.4 billion, or 5 percent, to $52.8 billion; volume increased 4 percent.
The largest increase was in industrial supplies and materials, up $0.9
billion, or 6 percent, to $15.3 billion.
Chemicals increased $0.6 billion to a
record $5.6 billion; the increases were
widespread geographically. Nonferrous metals increased $0.2 billion,
largely to Canada. Average prices for
industrial supplies and materials, like
agricultural prices, increased for the
second consecutive quarter; prices had
declined moderately throughout 1986.
Capital goods increased $0.6 billion,
or 3 percent, to $20.8 billion. Machinery other than business machines and
computers increased $0.8 billion, and
business machines and computers increased $0.2 billion; a $0.4 billion decrease in civilian aircraft was partly
offsetting.
Automotive products increased
slightly to $6.4 billion. Exports of
completed cars to Canada increased,
and exports of parts and engines to
Canada and Mexico decreased.
Merchandise trade
The merchandise trade deficit increased slightly to a record $39.5 billion in the second quarter from $38.8
billion in the first; imports increased
more than exports. Although the rate
of increase in exports was more rapid
than the rate for imports, the increase in imports was larger because
imports are nearly two-thirds larger
than exports.
CHART 6
Selected Interest Rates
Percent
8
90-DAY RATES
U.S. CD
Japanese Gensaki
ink Loan
Loan
German Interbank
I I I 11I I 1I I 111I I I 1I I I I I I I
LONG-TERM GOVERNMENT BOND RATES
United States
I I I
I I I
I I I
I I I I
Jan
Feb
Mar
Apr
M
May
Data: Federal Reserve Board. Weekly Rates.
U.S. Department of Commerce, Bureau of Economic Analysis
I
I I I
June
September 1987
Consumer goods increased $0.3 billion, or 8 percent, to $4.4 billion.
Japan accounted for about one-half of
the increase.
Imports.—Imports increased $3.8
billion, or 4 percent, to $99.5 billion;
volume increased 2 percent.
Petroleum imports increased $1.3
billion, or 15 percent, to $10.0 billion.
The average price per barrel increased to $17.32 from $15.64, and the
average number of barrels imported
daily increased to 6.32 million from
6.09 million. Lower domestic production and higher consumption contributed to both a large decrease in petroleum inventories and the increase in
imports. Crude petroleum prices increased throughout the quarter, largely reflecting production cutbacks by
OPEC countries that began in the
first quarter and concerns over the
possible disruption of supplies from
the Middle East.
Nonpetroleum imports increased
$2.5 billion, or 3 percent, to a record
$89.5 billion; volume increased 1 percent. Volume increased for most
major end-use commodity categories:
Foods, feeds, and beverages increased
4 percent; capital goods, 7 percent;
automotive products, 1 percent; and
consumer goods, 3 percent. The only
large volume decline—6 percent—was
in industrial supplies and materials.
The largest increase in value was in
capital goods, which increased $1.5
billion, or 7 percent, to $21.2 billion.
A larger increase in imports than in
exports resulted in a first-time trade
deficit in capital goods. Business machines and computers increased $0.3
billion. More than one-half of the inCHART 7
World Commodity Price Index
Index
80
1980 =
>
N
100
k
\
75
y
1 -
70 -
65
i
t
I
1
1986
I
1
l
I
i
1
I
I
t
i
1987
Data: International Monetary Fund. Index of prices of commodities
other than fuels and precious metals, weighted by the average of
commodity export values for 1979-81.
U.S. Department of Commerce, Bureau of Economic Analysis
I
September 1987
crease was from the newly industrialized countries (NIC's) in Asia. Other
capital goods increased $1.2 billion, or
8 percent, to $16.3 billion. The increase was broadly based, with machinery up $0.8 billion and transportation equipment up $0.4 billion.
Consumer goods increased $1.1 billion, or 6 percent, to $21.9 billion.
Nearly two-thirds of the increase was
from the NIC's, with smaller increases from Western Europe, Japan,
and Mexico. In mid-April, 100-percent
tariffs were placed on a range of Japanese consumer products (certain
computers, hand tools, and televisions) in retaliation for Japan's alleged violation of an agreement to
prevent dumping of semiconductors.
Automotive products increased $0.5
billion, or 2 percent, to $21.1 billion.
The increase was almost entirely due
to passenger cars from Japan, up 15
percent, and from South Korea, up 90
percent. The import share of U.S. car
sales has remained steady during the
past year, as a surge in sales of lower
cost cars from Korea offset a drop in
sales of Japanese cars. Sales of cars
(domestic and foreign) remained slow
in the second quarter, resulting in a
build-up in foreign car inventories.
Industrial supplies and materials
decreased $0.5 billion, or 3 percent, to
$16.3 billion; nonmonetary gold was
down $0.3 billion. Foods, feeds, and
beverages increased $0.1 billion, or 2
percent, to $6.1 billion.
In April, the United States reduced
the list of products exported by developing countries eligible for duty free
entry into the United States under
the General System of Preferences
(GSP), possibly affecting future trade.
About $3.2 billion in products, mostly
from higher income developing countries, were excluded from the GSP.
By area, the deficit increased $1.3
billion with the NIC's, and $1.0 billion
with Western Europe; smaller increases occurred in the deficit with
Japan, up $0.1 billion to $14.3 billion,
and with Mexico, up $0.2 billion to
$1.7 billion. The deficit with Canada
decreased $1.3 billion to $2.6 billion,
and the deficit with Latin America,
other than Mexico, decreased $0.4 billion to $1.7 billion. The deficit with
Eastern Europe shifted $0.3 billion to
a surplus of $0.2 billion.
Service transactions
Net service receipts decreased to
$1.3 billion in the second quarter
from $5.1 billion in the first. Receipts
SURVEY OF CURRENT BUSINESS
35
Table D.—Selected Direct Investment Transactions with Netherlands Antilles Finance Affiliates
[Millions of dollars]
1985
(Credits + ; debits
)
1985
1986
I
Capital
Equity capital
Reinvested earnings
Intercompany debt
-4,236 -5,106
830 -1,028
274
-910
-4,156 -4,352
-245
261
-221
-286
Income
Of which interest
-3,136
-4,791
-2,828
-3,946
-787
-1,232
1987
1986
IV
III
II
I
II
III
IV
-503
-991
- 8 3 3 -2,022 -1,136 -1,568 -2,044
376
175
251 -1,411
25
18
106
-178
-251
120
455
-116
-261
-184
788
- 5 9 1 -1,946 -1,333 -1,477 -1,966 -1,697
-828
-1,222
-805
-1,176
-715
-1,161
-708
-1,039
-717
-1,013
-685
-941
-718
-952
lr
II"
-131
-913
508
32
-179
-141
- 2 3 -1,242
-580
-837
-417
-691
p
Preliminary.
r
Revised.
NOTE.—Table shows only transactions with affiliates established primarily to borrow funds abroad and to relend them to their
U.S. parents.
decreased $2.0 billion to $40.0 billion;
the decrease was more than accounted for by lower capital gains in receipts of income on U.S. direct investment abroad. Payments increased
$1.8 billion to $38.7 billion, mostly
due to increased payments of income
on other private investment.
Receipts of income on U.S. direct
investment abroad decreased $3.3 billion to $9.4 billion. The decrease was
more than accounted for by lower
capital gains. Following large currency translation gains in the first quarter, when the dollar depreciated substantially, gains were down sharply in
the second, when the dollar strengthened beginning in mid-May. Operating earnings increased $0.3 billion to
$9.0 billion, mostly reflecting the
impact of higher petroleum prices on
earnings of petroleum affiliates. Payments of income on foreign direct investment in the United States decreased $0.6 billion to $2.9 billion.
Higher operating earnings of petroleum affiliates were offset by losses of
automobile wholesale trading affiliates and by a decline in capital gains
of insurance affiliates.
Receipts of income on other private
investment abroad increased $0.7 billion to $11.6 billion, reflecting increased bank claims and higher interest rates on dollar-denominated
assets. Payments of income on other
private investment in the United
States increased $1.5 billion to $11.8
billion, reflecting continued heavy
purchases of U.S. securities, increased
bank liabilities, and higher interest
rates.
U.S. Government receipts of income
were unchanged at $1.3 billion. U.S.
Government payments of income increased $0.4 billion to $6.1 billion, due
to large increases in holdings of U.S.
Treasury securities by foreign official
agencies over the past two quarters.
Travel receipts increased $0.2 billion to $3.7 billion. Receipts from
overseas continued to increase as the
lower value of the dollar reduced the
foreign currency cost of travel to the
United States. Receipts from Mexico
increased strongly. Receipts from
Canada were down slightly, reflecting
lower average expenditures. Travel
payments increased $0.2 billion to
$5.4 billion, as the number of travelers to Europe and the Mediterranean
continued to increase from last year's
depressed level. Payments to other
overseas areas also rose; average expenditures have increased sharply
over the past year due to depreciation
of the dollar. Payments to Canada
and Mexico were down.
Passenger fare receipts and payments were nearly unchanged at $1.0
billion and $1.9 billion, respectively.
Other transportation receipts increased $0.3 billion to $4.2 billion.
Ocean freight receipts were higher
due to a rise in the volume of exports.
Air and ocean port receipts were up
strongly from increased traffic. Other
transportation payments increased
$0.2 billion to $4.7 billion, reflecting
higher ocean freight and ocean port
expenditures.
Receipts from unaffiliated foreigners for other private services increased $0.1 billion to $2.6 billion.
Payments to unaffiliated foreigners
for other private services increased
$0.2 billion to $2.0 billion, mostly due
to higher commission payments on securities transactions in Japan, Germany, and the United Kingdom.
Transfers under U.S. military
agency sales contracts increased $0.2
billion to $3.5 billion. As a result of a
peak in scheduled deliveries of aircraft and other major items during
the first and second quarters, transfers were two-thirds above last year's
level. Direct defense expenditures
abroad were unchanged at $3.4 billion.
36
Unilateral transfers
Net unilateral transfers decreased
$0.2 billion to $2.9 billion, reflecting
decreases in both U.S. Government
grants and private remittances.
U.S. assets abroad
U.S. official reserve assets decreased $3.4 billion in the second
quarter, compared with a $2.0 billion
decrease in the first. Foreign currency
holdings decreased $3.3 billion, mostly
due to intervention sales. The U.S. reserve position in the International
Monetary Fund decreased $0.3 billion,
and special drawing rights increased
$0.2 billion.
Claims on foreigners reported by
U.S. banks increased $20.2 billion,
compared with a decrease of $25.7 billion, as U.S. lending to the overseas
interbank market surged in April. A
more rapid increase in short-term
Eurodollar interest rates than in U.S.
rates contributed to that increase.
Also, some of the increase in overseas
demand for bank credit stemmed
from foreign institutional investors,
who sought increased dollar liabilities
as hedges against the rapid depreciation of the dollar. U.S.-owned banks,
which had a strong influx of deposits
related to income tax payments,
sharply increased claims on affiliated
banks, mostly in Western Europe and
the Caribbean. However, U.S.-owned
banks provided little net funding to
the market because an increase in liabilities, mostly to their own foreign
offices in the Caribbean, nearly
matched the increase in claims. Foreign-owned banks in the United
States also sharply increased their
claims on affiliated and unaffiliated
foreign offices in April.
Outside the interbank market,
there was little bank activity.
Changes in claims on private foreigners and on foreign public borrowers
were small, as were changes in claims
denominated in foreign currencies.
Net U.S. sales of foreign securities
were $0.1 billion, compared with net
purchases of $1.3 billion. Net stock
purchases decreased to $0.5 billion
from $1.2 billion. Large net sales in
Japan were partly offset by purchases
in Western Europe and Canada. Foreign corporations' new stock issues in
the United States, at $1.4 billion,
were especially strong.
New foreign bonds issued in the
United States decreased slightly to
$1.0 billion, as U.S. long-term interest
SURVEY OF CURRENT BUSINESS
rates rose 100 basis points in April
and May. Issues were limited to a
small number of regular borrowers
from Canada, Israel, and an international organization.
Net sales of outstanding bonds, including redemptions, increased to $1.5
billion from $1.0 billion. There was a
$2.6 billion shift to net sales of $1.9
billion of Japanese bonds. Sales were
strongest late in the quarter when the
dollar strengthened and interest rates
in Japan rose. Substantial net sales
also occurred in Western Europe, the
Caribbean, and developing countries
in Asia. In contrast, purchases of British gilt-edged bonds nearly tripled to
$3.4 billion because of high yields and
the strength of the pound in exchange
markets.
Net outflows for U.S. direct investment abroad decreased to $4.6 billion
from $9.8 billion. Reinvested earnings
decreased $3.0 billion to $5.1 billion;
the decrease, which largely reflected
lower capital gains, was mostly in
Western Europe and Canada. Equity
capital shifted $1.8 billion to net inflows of $0.7 billion, and intercompany debt outflows slowed.
Foreign assets in the United States
Foreign official assets in the United
States increased $9.4 billion in the
second quarter, compared with a $14.0
billion increase in the first. Continued
increases in industrial countries' holdings mostly reflected
exchange
market intervention purchases of dollars. Dollar assets of OPEC members
continued to decrease. Dollar assets of
other countries decreased (table B).
Liabilities to private foreigners and
international financial institutions reported by U.S. banks, excluding U.S.
Treasury securities, increased $15.2
billion, in contrast to a decrease of
$13.6 billion. Large increases in liabilities of U.S.-owned banks to affiliated
banks in Western Europe and the
Caribbean were largely related to the
previously mentioned surge in U.S.
banks' claims on foreigners in April.
In addition, foreign funds financed increases in lending to U.S. securities
dealers. Foreign-owned banks in the
United States also drew on funds
from banks in Western Europe and
the Caribbean, while repaying funds
borrowed from Japanese and Canadian affiliates. Liabilities payable in foreign currencies decreased $0.6 billion,
in contrast to an increase of $6.9 billion in the first quarter.
Custody liabilities of banks' domes-
September 1987
tic customers shifted from a decrease
of $2.4 billion to an increase of $3.2
billion.
Net foreign sales of U.S. Treasury
securities by private foreigners and
international financial institutions increased to $2.6 billion from $1.6 billion, the third consecutive quarter of
net sales. Sales were heavy early in
the quarter when the dollar depreciated. Later in the quarter, there was
a shift to strong net purchases, especially by Japanese investors, due to
strengthening of the dollar and a
wide interest differential in favor of
dollar-denominated assets.
Net foreign purchases of U.S. securities, other than U.S. Treasury securities, remained strong at $15.9 billion, although down from $18.5 billion. Net foreign purchases of U.S.
corporate stocks were $8.3 billion,
compared with a record $9.8 billion in
the first quarter; net purchases
during the first two quarters of 1987
exceeded the record 1986 annual
total. Net Japanese purchases, which
accelerated following liberalization of
foreign investment restrictions last
year, were $4.0 billion in the second
quarter, compared with $3.4 billion.
Purchases from the United Kingdom,
although smaller than in the first
quarter, remained strong.
Bonds newly issued abroad by U.S.
corporations slowed to $5.9 billion
from $7.0 billion, due to rising longterm interest rates. Convertible issues
of industrial companies picked up because of strong equity prices. There
were few issues by banks; nonbank financial corporations, who had borrowed heavily since early 1986, also
had few issues. U.S. dollar issues decreased, and foreign currency issues
denominated in German marks and
Swiss francs increased moderately.
Net inflows for foreign direct investment in the United States decreased to $7.2 billion from $7.7 billion. Equity inflows increased to $2.6
billion from $1.8 billion, reflecting the
acquisition of a U.S. financial firm by
a Japanese firm and the recapitalization of a manufacturing affiliate by a
French firm. Several acquisitions in
the second quarter were financed entirely by borrowing from domestic
(U.S.) sources so that no direct investment capital flows were generated.
Intercompany debt inflows, at $3.8 billion, were $0.6 billion lower than in
the first quarter, but remained large
for the third consecutive quarter. Reinvested earnings decreased $0.7 billion to $0.8 billion.
SURVEY OF CURRENT BUSINESS
September 1987
37
Table 1-2.—U.S. International Transactions
[Millions of dollars]
Not seasonally adjusted
(Credits +; debits - )
Exports of goods and services 2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
Travel
Passenger fares
Other transportation
Royalties and license fees from affiliated foreigners 4
Royalties and license fees from unaffiliated foreigners..
Other private services from affiliated foreigners
Other private services from unaffiliated foreigners
U.S. Government miscellaneous services
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
Transfers of goods and services under U.S. military
grant programs, net.
Imports of goods and services
Merchandise, adjusted, excluding military 3
Direct defense expenditures
Travel
Passenger fares
Other transportation
Royalties and license fees to affiliated foreigners 4
Royalties and license fees to unaffiliated foreigners
Other private services to affiliated foreigners
Other private services to unaffiliated foreigners
U.S. Government miscellaneous services
Payments of income on foreign assets in the United
States:
Direct investment
Other private payments
U.S. Government payments
1986
Seasonally adjusted
1987
III
IV
1986
I
II
1987
III
Ir
IV
372,807
91,836
90,390
53,915
2,252
3,692
1,050
4,007
1,116
543
813
2,229
131
98,511
101,890
92,134
93,540
93,241
93,891
98,953
99,981
54,117
1,902
3,085
766
3,565
891
519
686
2,269
165
95,408
58,489
2,096
3,228
932
3,690
1,111
532
784
2,279
151
95,174
224,361
8,903
12,913
3,562
15,190
4,715
2,147
3,084
9,122
602
57,840
2,653
2,908
814
3,928
1,599
553
801
2,344
155
57,201
3,341
3,577
903
3,771
1,384
560
511
2,508
105
61,531
3,483
3,850
1,152
4,156
1,342
568
574
2,623
126
53,878
1,902
3,058
880
3,670
972
519
724
2,269
186
56,928
2,096
3,098
835
3,700
1,147
532
781
2,279
131
56,534
2,252
3,317
906
3,954
1,233
543
806
2,229
134
57,021
2,653
3,440
941
3,866
1,363
553
773
2,344
150
56,992
3,341
3,533
1,039
3,880
1,497
560
538
2,508
115
59,975
3,483
3,702
1,033
4,164
1,372
568
571
2,623
139
36,697
45,191
6,321
10,345
11,943
1,583
9,317
11,507
1,294
7,748
10,851
2,043
9,287
10,890
1,401
12,378
10,880
1,393
9,631
11,593
1,263
10,552
11,943
1,581
9,080
11,507
1,426
8,555
10,851
1,927
8,510
10,890
1,387
12,686
10,880
1,384
9,372
11,593
1,386
101
19
11
19
26
19
11
19
53
-498,501 -119,006 -125,842 -126,354 -127,300 -128,963 141,015
-368,700 -87,331 -92,333 -92,687 -96,349 -93,940 -101,113
-12,565
-3,378
-3,148
-3,067
-3,200
-3,150
-3,372
-17,627
-3,823
-3,643
-5,966
-3,302
-4,716
-5,871
-6,842
-1,695
-1,882 -1,429
-1,534
-1,997
-2,519
-17,099
-4,292
-4,440
-4,564
-3,940
-4,154
-4,821
-616
-164
-163
-138
-151
-174
-192
-118
-116
-113
-114
-461
-120
-121
407
302
290
326
1,324
101
137
-1,741
-1,735
-1,641
-1,737
-6,853
-1,811
-2,016
-379
-480
-446
-391
-1,696
-380
-5,846
-38,912
-22,607
-2,373
-9,651
-5,627
-2,304
-9,562
-5,560
-855
-9,449
-5,690
-314
-10,250
-5,731
-3,430
-2,861
-10,298 -11,818
-5,722
-6,064
-122,153 -123,128 -125,490 -127,730 -132,634 -138,174
-88,856 -90,579 -93,649 -95,616 -95,749 -99,500
-3,200 -3,150 -3,067
-3,148 -3,378 -3,372
-5,356
-4,468 -4,349 -4,402 -4,408 -5,159
-1,767 -1,506
-1,769 -1,800 -1,980 -1,923
-4,532 -4,708
-4,159
-4,056 -4,448 -4,436
-138
-151
-164
-192
-174
-163
-113
-114
-118
-121
-120
-116
290
326
407
101
137
302
-1,641
-1,737
-2,016
-1,811
-1,735 -1,741
-450
-411
-380
-449
-2,373
-9,651
-5,627
-2,304
-9,562
-5,560
-855
-314
-9,449 -10,250
-5,690
-5,731
-19
-53
-4,334
-4,138
-3,459
-2,987
-2,861
-3,430
-10,298 -11,818
-5,722 -6,064
-101
-19
-11
-19
-53
-15,658
-2,921
-4,200
-4,267
-4,271
-2,983
-11,773
-2,078
-3,249
-3,459
-2,987
-2,086
-2,231
-1,654
-464
-380
-520
-431
-443
-365
-805
-479
-498
-399
U.S. assets abroad, net (increase/capital outflow ( —))
U.S. official reserve assets, n e t 5
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. credits and other long-term assets
Repayments on U.S. credits and other long-term
assets 6 .
U.S. foreign currency holdings and U.S. short-term
assets, net.
U.S. private assets, net
Direct investment..
Foreign securities
U.S. claims on unaffiliated foreigners reported by
U.S. nonbanking concerns.
U.S. claims reported by U.S. banks, not included
elsewhere.
-95,982
312
-14,425
-115
-26,694
16
-24,983
280
-29,881
132
-246
1,501
-942
-1,920
-274
344
-185
-389
-104
366
-246
-161
163
508
-391
-1,469
-31
283
-120
99
76
606
1,274
64
-171
335
3,255
-274
344
-185
-240
-104
366
-246
-242
163
508
-391
-1,454
-31
283
-120
15
76
606
1,274
225
-171
335
3,255
-182
-8,915
6,075
-1,813
1,413
-1,624
1,433
-4,146
1,733
-1,332
1,496
-924
1,012
-2,037
1,815
-1,813
1,562
-1,624
1,353
-4,146
1,748
-1,332
1,412
-924
1,173
-2,037
1,721
920
11
29
944
-65
-24
134
11
29
944
-65
-24
134
-13,920 -26,548
-11,460 -8,771
-1,149
-5,886
-1,894
-2,947
-23,795
-6,222
620
685
-30,111
-1,594
3,113
170
12,816
-10,362
-1,345
-1,163
-25,968
-5,866
93
n.a.
-13,415
-10,955
-5,886
-^2,947
-7,526
-1,149
-1,894
-23,304
-5,731
620
685
-32,351
-3,834
3,113
170
13,352
-9,826
-1,345
-1,163
-24,747
-4,645
93
n.a.
6,373 -14,734
-18,878
-31,800
25,686
-20,195
6,373
-14,734
-18,878
-31,800
25,686
-20,195
Foreign assets in the United States, net (increase/capital
inflow (+)).
Foreign official assets in the United States, net
U.S. Government securities7
U.S. Treasury
securities
Other 8
Other U.S. Government liabilities 9
U.S. liabilities reported by U.S. banks, not included
elsewhere.
Other foreign official assets 10
Other foreign assets in the United States, net
Direct investment
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.
U.S. liabilities reported by U.S. banks, not included
elsewhere.
213,386
36,322
49,042
69,591
58,431
26,754
45,050
36,322
49,042
69,591
58,431
26,754
45,050
34,698
33,301
34,515
-1,214
1,723
554
2,576
3,061
3,238
-177
406
-1,254
15,568
13,894
14,538
-644
925
1,280
15,551
11,891
12,167
-276
999
2,963
1,003
4,455
4,572
-117
-607
-2,435
13,953
12,083
12,145
-62
-1,381
3,611
11,338
11,082
256
-1,501
-135
2,576
3,061
3,238
-177
406
-1,254
15,568
13,894
14,538
-644
925
1,280
15,551
11,891
12,167
-276
999
2,963
1,003
4,455
4,572
-117
-607
-2,435
13,953
12,083
12,145
-62
-1,381
3,611
9,389
11,338
11,082
256
-1,501
-135
178,689
25,053
8,275
70,802
-2,791
363
33,746
1,846
7,035
18,571
-2,193
-531
33,475
4,536
3,705
-302
54,040
6,077
609
17,074
-360
12,802
7,726
-1,570
18,499
1,761
-313
35,661
7,215
-2,562
15,858
n.a.
363
33,746
1,846
7,035
18,571
-2,193
-531
33,475
4,536
3,705
22,888
-1,553
-302
54,040
6,077
609
17,074
-1,553
-410
57,428
12,594
-3,074
12,269
1,035
-410
57,428
12,594
-3,074
12,269
1,035
-360
12,802
7,726
-1,570
18,499
1,761
-313
35,661
7,215
-2,562
15,858
n.a.
77,350
8,487
3,899
30,360
34,604
-13,614
15,150
8,487
30,360
34,604
-13,614
15,150
23,947
8,194
12,285
-4,377
7,846
-8,156
19,544
10,488
10,241
-8,530
11,750
-5,504
17,557
2,294
-2,044
-4,153
3,904
2,652
-1,987
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
-94,374
-28,047
-3,302
-3,986
-19
-11
-3,021
-4,167
-2,832
-1,991
-2,078
-3,249
-492
-349
-525
-418
-530
-388
-26
14,836 -22,637
1,956
3,419
-497
-378
-680
-471
-13,770 -25,529 -24,478
280
-115
16
-32,204
132
-26
-3,103
-2,904
-2,086
-1,991
-581
-436
-608
-305
15,533 -21,510
1,956
3,419
Allocations of special drawing rights
Statistical discrepancy (sum of above items with sign
reversed).
Of which seasonal adjustment discrepancy
Memoranda:
Balance on merchandise trade (lines 2 and 17)
Balance on goods and services (lines 1 and 16)1X
Balance on goods, services, and remittances (lines 67, 33,
and 34).
Balance on current account (lines 67 and 31) J 1
Transactions in U.S. official reserve assets and in
foreign official assets in the United States:
Increase (—) in U.S. official reserve assets, net (line 36).
Increase (+) in foreign official assets in the United
States (line 51 less line 55).
See footnotes on page 49.
-144,339
-125,694
-129,579
-33,214
-27,170
-28,014
-33,844
-30,434
-31,385
-38,772
-35,964
-36,771
-38,509
-32,126
-33,410
-36,739
-30,452
-31,348
-39,582
-39,125
-39,966
-34,978
-30,019
-30,962
-33,651
-29,588
-30,506
-37,115
-32,249
-33,124
-38,595
-33,839
-34,990
-38,757
-33,681
-39,525
-38,193
-39,106
-141,352
-30,091
-34,634
-40,230
-36,397
-33,435
-41,957
-33,040
-33,755
-36,583
-37,977
-36,784
-41,097
312
32,975
2,170
16
14,643
280
14,552
132
1,610
1,956
15,334
3,419
10,890
-115
2,170
16
14,643
280
14,552
132
1,610
1,956
15,334
3,419
10,890
SURVEY OF CURRENT BUSINESS
38
September 1987
Table 3.—U.S. Merchandise Trade
[Millions of dollars]
Seasonally adjusted
Not seasonally adjusted
I
A
1987
1986
1986
Line
III
II
IV
I
II P
I-
1987
1986
II
I'
IV
III
II"
Balance of payments adjustments to Census trade data:
EXPORTS
1 Merchandise exports, Census basis 1 including reexports and
excluding military grant shipments.
58,882
54,313
59
49
56
66
58
170
67
162
226,803
54,953
230
457
58,655
57,767
57,835
57,547
62,519
54,706
60
60
59
49
56
66
60
60
152
147
58
170
67
162
152
147
57,339
56,923
60,988
Adjustments:
2
Private gift parcel remittances
3
Gold exports nonmonetary
4
5
6
Inland U S freight to Canada
U S -Canadian reconciliation adjustments n e e net 2
Merchandise exports transferred under U.S. military
agency sales contracts identified in Census documents 3 .
Other adjustments n e t 4
7
.
8
Equals: Merchandise exports, adjusted to balance of
payments basis excluding "military" (table 1, line 2).
9
Merchandise imports, Census basis
1,298
314
321
313
350
436
481
323
304
321
350
447
456
-4,550
-1,300
-950
-870
-1,430
-1,221
-1,685
-1,300
-950
-870
-1,430
-1,221
-1,685
123
33
17
36
37
7
9
33
17
36
37
7
9
224,361
54,117
58,489
53,915
57,840
57,201
61,531
53,878
56,928
56,534
57,021
56,992
59,975
365,268
86,239
91,541
92,257
95,231
93,338
100,620
87,764
89,788
93,219
94,497
95,148
99,007
816
2,163
1,410
264
697
336
204
487
365
174
180
325
174
799
384
220
264
418
251
170
429
264
697
336
204
487
365
174
180
325
174
799
384
220
264
418
251
170
429
-1,198
-'280
-275
-348
-295
-285
-339
-280
-275
-348
-295
-285
-339
241
75
11
99
56
15
18
75
11
99
56
15
18
368,700
87,331
92,333
92,687
96,349
93,940
101,113
88,856
90,579
93,649
95,616
95,749
99,500
224,361
54,117
58,489
53,915
57,840
57,201
61,531
53,878
56,928
56,534
57,021
56,992
59,975
60,664
52,158
5,446
7,159
10,275
4,763
7,687
11,092
5,736
8,506
15,303
13,353
1,346
1,846
2,533
1,190
2,045
2,838
1,555
1,950
14,908
12,743
1,385
1,745
2,384
1,306
1,792
2,821
1,310
2,165
14,036
11,793
1,274
1,791
2,312
993
1,600
2,538
1,285
2,243
16,417
14,269
1,441
1,777
3,046
1,274
2,250
2,895
1,586
2,148
16,967
14,860
1,485
1,847
2,940
1,410
2,279
3,277
1,622
2,107
17,014
14,735
1,461
1,966
2,705
1,423
1,875
3,598
1,707
2,279
15,247
13,303
1,347
1,847
2,528
1,183
2,016
2,844
1,538
1,944
14,500
12,406
1,341
1,683
2,318
1,276
1,778
2,724
1,286
2,094
14,740
12,396
1,330
1,869
2,425
1,048
1,706
2,654
1,364
2,344
16,177
14,053
1,428
1,760
3,004
1,256
2,187
2,870
1,548
2,124
16,885
14,779
1,482
1,847
2,922
1,398
2,244
3,286
1,600
2,106
16,542
14,326
1,414
1,906
2,629
1,389
1,842
3,482
1,664
2,216
56,984
26,361
7,116
13,653
5,424
1,868
15,657
7,830
1,574
13,318
6,602
1,764
14,356
6,505
1,910
14,525
5,811
1,624
16,141
6,467
1,912
13,695
5,365
1,872
15,219
7,656
1,508
13,770
6,987
1,838
14,300
6,353
1,898
14,581
5,739
1,629
15,623
6,378
1,848
IMPORTS
J
(general imports)
Adjustments:
10
11
12
13
14
15
Electric energy
. .. .
Gold imports nonmonetary
Inland freight in Canada
2
U S -Canadian reconciliation adjustment n e e n e t
Merchandise imports of U.S. military agencies identified in
Census documents 3 .
Other adjustments net 5
16 Equals: Merchandise imports, adjusted to balance of
payments basis, excluding "military" (table 1, line 17).
B
Merchandise trade, by area and country, adjusted to balance
of payments basis, excluding military: 6
EXPORTS
1 Total, all countries
....
2
3
4
5
6
7
8
9
10
11
Western Europe
. .
European Communities
Belgium and Luxembourg
France
Germany Federal Republic of
.
..
.. .
12
13
14
Canada 2
Japan
Australia, New Zealand, and South Africa
15
Eastern Europe
2 025
838
525
273
389
339
691
806
538
295
386
330
710
16
17
18
19
20
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
30,877
3,905
12,363
3,101
11 508
7,055
782
3,068
696
2 509
7,961
824
3,317
845
2 974
7,878
1,182
2,992
766
2,938
7,983
1,117
2,986
794
3,086
7,544
729
3,314
663
2,838
8,439
906
3,562
844
3,127
7,020
776
3,062
690
2 492
7,729
792
3,221
825
2 891
8,273
1,246
3,128
806
3 093
7,855
1,091
2,952
780
3 032
7,524
727
3,312
660
2 825
8,240
881
3,471
828
3 060
21
22
23
24
25
26
27
28
29
30
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Korea Republic of
Singapore
Taiwan
Africa
Members of OPEC
40,334
35,594
5,869
3,069
3,006
5,825
3,351
5,125
4,485
910
9,976
8,783
1,540
875
730
1,393
849
1,177
1,126
247
10,034
8,923
1,485
851
706
1,517
814
1,233
1,051
201
10,044
8,798
1,336
628
747
1,450
863
1,241
1,177
256
10,280
9,090
1,508
715
823
1,465
825
1,474
1,131
206
10,391
9,356
1,310
873
907
1,670
955
1,343
993
188
10,866
9,702
1,355
694
909
1,863
973
1,550
1,091
206
9,873
8,722
1,534
880
725
1,373
850
1,164
1,087
237
9,778
8,668
1,444
820
686
1,481
784
1,212
1,052
201
10,631
9,285
1,419
654
786
1,545
898
1,316
1,270
278
10,052
8,919
1,472
715
809
1,426
819
1,433
1,076
194
10,304
9,296
1,298
872
904
1,645
959
1,328
967
183
10,633
9 484
1,335
676
888
1833
941
1,526
1,083
208
31
International organizations and unallocated
o
1
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EC
o
1
Memoranda:
32
33
34
Industrial countries 6
Members of OPEC 6
Other countries 6
See footnotes on page 49.
151,125
10,484
62,752
36,248
2,635
15,234
39,969
2,695
15,825
35,720
2,507
15,688
39,188
2,647
16,005
38,927
2,296
15,978
41,534
2,582
15,415
36,179
2,611
15,088
38,883
2,630
15,415
37,335
2,659
16,540
38,728
2,584
15,709
38,834
2,276
15,882
40,391
2,544
17,040
SURVEY OF CURRENT BUSINESS
September 1987
39
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
Seasonally adjusted
1986
III
IV
1987
1986
1987
II'
III
IV
Merchandise trade, by area and country, adjusted to balance
of payments basis, excluding military 6—Continued:
IMPORTS
Total, all countriesWestern Europe
European Communities
Belgium and Luxembourg
France
Germany, Federal Republic of...
United Kingdom
Other
Western Europe, excluding EC
Canada 2
Japan
Australia, New Zealand, and South Africa
368,700
87,331
92,333
92,687
96,349
93,940
101,113
88,856
90,579
93,649
95,616
95,749
99,500
89,074
74,269
3,937
9,551
24,543
10,354
4,132
15,082
6,670
14,805
21,051
17,077
860
2,198
5,598
2,535
953
3,443
1,490
3,974
22,850
18,990
1,196
2,674
6,081
2,445
1,069
3,857
1,668
3,860
21,570
18,518
938
2,285
6,172
2,750
1,039
3,645
1,689
3,052
23,603
19,684
943
2,394
6,692
2,624
1,071
4,137
1,823
3,919
22,293
18,819
879
2,323
6,439
2,583
989
4,019
1,587
3,474
23,829
20,059
1,012
2,553
6,977
2,651
996
4,205
1,665
3,770
21,432
17,392
877
2,242
5,705
2,580
969
3,504
1,515
4,040
22,408
18,622
1,173
2,621
5,958
2,395
1,050
3,786
1,639
3,786
21,803
18,717
950
2,312
6,238
2,777
1,050
3,684
1,706
3,086
23,431
19,538
937
2,376
6,642
2,602
1,063
4,108
1,810
3,893
22,738
19,194
896
2,372
6,571
2,635
1,006
4,095
1,619
3,544
23,414
19,707
995
2,505
6,848
2,604
975
4,143
1,637
3,707
70,315
80,764
5,945
17,567
17,842
1,391
18,065
20,523
1,380
16,622
21,116
1,477
18,061
21,283
1,697
18,053
19,574
1,277
18,484
21,109
1,359
17,873
18,183
1,417
17,723
20,110
1,352
16,792
21,346
1,493
17,927
21,125
1,683
18,399
19,976
1,302
18,187
20,722
1,336
1,980
455
591
478
456
426
492
465
579
483
453
433
487
Latin America and Other Western Hemisphere
Brazil
Mexico
Venezuela
Other
41,426
6,892
17,164
4,806
12,564
10,783
1,649
4,500
1,335
3,299
10,318
1,807
4,263
1,186
3,062
9,765
1,624
3,966
1,123
3,052
10,560
1,812
4,435
1,162
3,151
10,916
1,709
4,708
-1,313
3,186
11,726
1,847
5,219
1,369
3,291
10,950
1,680
4,572
1,348
3,350
10,141
1,771
4,187
1,174
3,009
9,860
1,641
4,006
1,132
3,081
10,475
1,800
4,399
1,152
3,124
11,101
1,741
4,793
1,326
3,241
11,584
1,817
5,146
1,373
3,248
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa
Members of OPEC
79,196
71,394
8,314
4,694
8,787
12,805
4,649
19,773
7,699
4,313
18,242
16,152
2,421
1,114
1,853
2,686
1,002
4,123
2,069
1,147
18,606
16,839
1,914
982
1,967
3,093
1,096
4,682
1,744
956
21,659
19,616
1,996
1,325
2,519
3,666
1,235
5,601
2,004
1,097
20,689
18,787
1,983
1,273
2,448
3,360
1,316
5,367
1,882
1,113
21,401
19,518
2,139
1,576
2,087
3,495
1,333
5,496
1,871
944
24,114
21,562
2,317
1,514
2,278
4,334
1,452
6,211
2,532
1,436
18,536
16,425
2,444
1,132
1,888
2,735
1,021
4,201
2,090
1,157
18,266
16,519
1,895
962
1,926
3,030
1,074
4,587
1,726
950
21,872
19,814
2,010
1,337
2,546
3,705
1,248
5,661
2,018
1,104
20,522
18,636
1,965
1,262
2,428
3,334
1,306
5,325
1,865
" 1,103
21,800
19,895
2,164
1,607
2,130
3,567
1,360
5,608
1,894
952
23,770
21,217
2,320
1,489
2,236
4,255
1,425
6,097
2,535
1,444
246,098
18,894
103,708
57,851
5,285
24,195
62,818
4,389
25,126
60,785
4,581
27,321
64,644
4,639
27,066
61,197
4,728
28,015
64,781
5,358
30,974
58,905
5,336
24,615
61,593
4,348
24,638
61,434
4,614
27,601
64,166
4,596
26,854
62,415
4,779
28,555
63,659
5,369
30,472
Eastern Europe
International organizations and unallocated..
Memoranda:
Industrial countries 6 ...
Members of OPEC 6
Other countries 6
BALANCE (EXCESS OF EXPORTS + )
Total, all countries
-33,214 -33,844 -38,772 -38,509 -36,739 -39,582 -34,978 -33,651 -37,115 -38,595 -38,757 -39,525
-7,534
-6,724
336
-494
-3,860
-1,757
561
-1,107
-404
-7,186
-5,416
497
-617
-3,646
-1,350
1,179
-1,242
-237
-1,771
-5,326
-3,959
606
-476
-3,499
-1,173
1,290
-742
35
-1,367
-6,815
-5,324
449
-587
-4,272
-1,228
879
-607
42
-1,491
-6,185
-4,089
470
-395
-3,177
-1,397
1,047
-660
23
-2,096
-28,410
-22,111
1,508
-2,392
-14,268
-5,591
3,554
-3,990
-934
-6,299
-5,748
-3,724
486
-352
-3,065
-1,345
1,092
-605
65
-2,024
Canada 2
Japan....".
Australia, New Zealand, and South Africa
-13,331
-54,403
1,171
-3,914 -2,408 -3,304 -3,705 -3,528 -2,343 -4,178
-12,418 -12,693 -14,514 -14,778 -13,763 -14,642 -12,818
213
287
194
477
455
553
347
-7,942
-6,247
189
-929
-3,697
-1,138
723
-1,036
-358
-1,695
-7,908
-6,216
168
-937
-3,640
-1,119
727
-1,062
-353
-1,692
-7,063
-6,321
380
-443
-3,813
-1,730
656
-1,030
-342
-742
-7,254
-5,485
491
-615
-3,639
-1,346
1,124
-1,238
-261
-1,770
-5,853
-4,415
586
-525
-3,649
-1,237
1,238
-809
-19
-1,438
-6,872
-5,381
419
-599
-4,219
-1,215
867
-661
27
-1,491
-2,504 -3,022 -3,627 -3,818 -2,564
-12,454 -14,359 -14,772 -14,237 -14,344
156
327
215
345
512
45
383
-66
-205
-67
-87
199
341
-41
-188
-67
-103
223
Latin America and Other Western Hemisphere....
Brazil
Mexico
Venezuela
Other
-10,549
-2,987
-4,801
-1,705
-1,056
-3,728
-867
-1,432
-639
-789
-2,357
-983
-945
-340
-1,887
-443
-974
-357
-114
-2,577
-695
-1,449
-368
-65
-3,372
-980
-1,394
-650
-348
-3,287
-941
-1,657
-525
-164
-3,930
-904
-1,510
-658
-858
-2,412
-979
-966
-349
-118
-1,587
-395
-878
-326
12
-2,620
-709
-1,447
-372
-93
-3,577
-1,014
-1,481
-666
-416
-3,344
-936
-1,675
-545
Other countries in Asia and Africa
Asia
Members of OPEC
China
Hong Kong
Korea, Republic of
Singapore
Taiwan
Africa
Members of OPEC
-38,862
-35,801
-2,445
-1,625
-5,781
-6,981
-1,298
-14,648
-3,214
-3,403
-8,266
-7,369
-880
-239
-1,123
-1,294
-154
-2,946
-943
-900
-8,572
-7,917
-430
-131
-1,262
-1,576
-282
-3,450
-693
-755
-11,615 -10,409 -11,010 -13,248
-10,818 -9,697 -10,162 -11,860
-475
-660
-962
-829
-697
-558
-820
-703
-1,773 -1,625 -1,180 -1,369
-2,216 -1,895 -1,825 -2,471
-491
-372
-378
-479
-4,361 -3,893 -4,153 -4,661
-751
-827
-878 -1,441
-841
-907
-756 -1,230
-8,663
-7,703
-910
-252
-1,163
-1,363
-171
-3,036
-1,003
-920
-7,851
-451
-142
-1,240
-1,549
-290
-3,375
-674
-749
-11,241 -10,470 -11,496 -13,137
-10,529 -9,717 -10,599 -11,733
-592
-492
-866
-985
-735
-547
-683
-813
-1,760 -1,619 -1,226 -1,348
-2,161 -1,908 -1,922 -2,422
-351
-401
-487
-484
-4,345 -3,893 -4,280 -4,571
-927 -1,452
-789
-748
-825
-769 -1,236
-909
Eastern Europe
99
-144,339
Western Europe
European Communities
Belgium and Luxembourg
France
Germany, Federal Republic of
Italy
Netherlands
United Kingdom
Other
Western Europe, excluding EC
1
International organizations and unallocated....
1
Memoranda:
100
101
102
Industrial countries 6 ..
Members of OPEC 6 ....
Other countries 6
See footnotes on page 49.
-94,973
-8,410
-40,956
-21,603 -22,849
-2,650 -1,694
-8,961 -9,300
-25,065 -25,455
-2,075 -1,992
-11,633 -11,061
-22,270
-2,432
-12,037
-23,247 -22,726 -22,710 -24,099
-2,776 -2,725 -1,718 -1,956
-13,559 -9,527 -9,223 -11,061
-25,438
-2,013
-11,145
-23,581
-2,503
-12,673
-23,268
-2,825
-13,432
40
SURVEY OF CURRENT BUSINESS
September 1987
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
Line
1986
1986
Seasonally adjusted
1987
19&7
III
IV
II
III
IV
Ir
II"
Merchandise trade, by principal end-use category, adjusted
to balance of payments basis, excluding military: 2
EXPORTS
Total (A-8)
224,361
54,117
58,489
53,915
57,840
57,201
61,531
53,878
56,928
56,534
57,021
56,992
59,975
27,023
197,338
7,558
46,559
5,876
52,613
5,783
48,132
7,806
50,034
7,072
50,129
6,692
54,839
7,047
46,831
6,320
50,608
6,641
49,893
7,015
50,006
6,527
50,465
7,140
52,835
22,580
21,091
9,889
4,338
6,863
1,489
6,242
6,013
2,930
1,514
1,569
229
4,917
4,626
2,045
943
1,639
291
5,262
4,579
2,450
447
1,682
684
6,159
5,873
2,464
1,435
1,974
286
5,527
5,252
2,487
1,118
1,647
275
5,455
5,104
2,614
713
1,777
351
6,012
5,635
2,831
1,193
1,610
378
5,302
4,941
2,229
1,093
1,619
361
5,601
5,199
2,565
869
1,765
403
5,665
5,317
2,264
1,184
1,869
5,349
4,891
2,354
845
1,692
458
5,842
5,408
2,840
800
1,768
434
Industrial supplies and materials
Agricultural
Nonagricultural
Energy products
Fuels and lubricants
Petroleum and products
Other nonagricultural
Nonmonetary gold
64,021
5,350
58,671
8,234
8,229
3,780
50,437
5,887
14,459
1,414
13,045
2,139
2,136
1,163
10,905
337
17,527
1,126
16,402
2,168
2,168
900
14,234
3,165
16,043
1,089
14,954
1,937
1,936
770
13,017
1,678
15,992
1,721
14,271
1,991
1,990
947
12,280
707
15,694
1,661
14,033
1,758
1,757
980
12,275
472
17,170
1,466
15,704
1,958
1,957
974
13,746
495
14,634
1,280
13,353
2,320
2,317
1,091
11,033
337
17,236
1,257
15,979
2,065
2,065
924
13,914
3,165
16,331
1,326
15,005
1,909
1,909
851
13,095
1,678
15,820
1,486
14,334
1,940
1,939
914
12,394
707
15,807
1,476
14,331
1,929
1,928
923
12,402
472
16,866
1,612
15,254
1,884
1,883
991
13,370
495
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, complete—all types
Parts and engines for civilian aircraft
Other transportation equipment
79,824
62,964
7,430
7,578
1,852
19,225
15,208
1,732
1,825
461
20,293
16,065
1,870
1,851
507
19,459
15,317
1,833
1,888
421
20,847
16,374
1,996
2,014
464
20,219
15,981
1,852
1,981
405
21,416
17,550
1,512
1,964
19,178
15,322
1,601
1,794
461
19,624
15,686
1,604
1,828
507
20,452
15,668
2,414
1,949
421
20,570
16,288
1,811
2,008
464
20,206
16,087
1,768
1,947
404
20,790
17,124
1,331
1,945
390
Automotive vehicles, parts, and engines
To Canada
To all other areas
25,431
19,665
5,766
6,500
5,153
1,347
7,598
6,069
1,529
5,255
3,909
1,346
6,078
4,534
1,544
6,438
4,760
1,678
7,022
5,224
1,798
6,365
4,979
1,386
6,965
5,485
1,480
5,875
4,475
1,400
6,226
4,726
1,500
6,302
4,584
1,718
6,360
4,621
1,739
Consumer goods (nonfood), except automotive
All other, including balance of payments adjustments not
included in lines C 4-26.
14,490
18,015
3,359
4,332
3,614
4,540
3,620
4,276
3,897
4,867
4,062
5,261
4,507
5,961
3,345
4,344
3,500
4,301
3,739
4,536
3,906
4,835
4,056
5,272
4,367
5,750
368,700
87,331
92,333
92,687
96,349
93,940
101,113
88,856
90,579
93,649
95,616
95,749
99,500
33,760
334,940
10,144
77,187
7,676
84,657
7,853
84,834
8,087
88,262
8,625
85,315
9,937
91,176
10,224
78,632
7,625
82,954
8,009
87,607
87,050
9,994
89,506
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 and products
23,987
5,992
5,897
6,210
6,010
6,140
5,891
5,858
7,902
85,747
6,137
6,101
5,980
6,102
102,776
37,974
37,159
64,802
7,858
27,144
11,456
11,192
15,688
1,857
25,989
8,552
8,349
17,437
2,620
24,399
8,685
8,510
15,714
1,252
25,244
9,282
9,107
15,962
2,129
25,423
9,613
9,393
15,810
757
26,820
10,678
10,428
16,142
476
27,283
11,408
11,145
15,875
1,857
25,371
8,528
8,325
16,843
2,620
24,561
8,824
8,649
15,737
1,252
25,561
9,215
9,041
16,346
2,129
25,559
9,590
9,370
15,969
757
26,324
10,750
10,500
15,574
476
75,446
67,665
6,924
857
17,043
15,227
1,591
226
18,945
16,787
2,019
139
19,475
17,616
1,613
247
19,983
18,036
1,702
245
19,341
17,688
1,503
150
21,509
19,424
1,864
221
17,439
15,623
1,591
226
18,687
16,529
2,019
139
19,500
17,640
1,613
247
19,820
17,873
1,702
245
19,771
18,118
1,503
150
21,239
19,153
1,865
221
Automotive vehicles, parts, and engines
From Canada
Passenger cars, new and used
From all other areas
Passenger cars, new and used
78,084
24,827
11,823
53,257
33,383
17,786
6,274
2,859
11,512
6,937
20,419
6,757
3,357
13,662
8,557
18,649
5,227
2,174
13,423
21,230
6,570
3,433
14,660
9,391
20,545
6,594
2,920
13,951
8,215
22,430
6,311
2,538
16,119
10,175
17,778
6,253
2,897
11,525
19,088
6,118
2,961
12,969
7,910
20,714
6,072
2,632
14,642
9,752
20,505
6,384
3,334
14,121
20,605
6,559
2,942
14,046
8,243
21,085
5,754
2,226
15,331
9,431
Consumer goods (nonfood), except automotive
All other, including balance of payments adjustments not
included in lines C 31-46.
77,802
10,605
16,909
2,457
18,356
2,736
21,751
2,516
20,786
2,896
19,638
2,983
21,176
17,915
2,550
18,988
2,588
20,168
2,569
20,731
20,737
3,097
21,878
2,872
Nonpetroleum products
Foods, feeds, and beverages
Industrial supplies and materials
Energy products
Fuels and lubricants
Nonenergy products
Nonmonetary gold
Capital goods, except automotive
Machinery, except consumer-type
Civilian aircraft, engines, and parts
Other transportation equipment
See footnotes on page 49.
SURVEY OF CURRENT BUSINESS
September 1987
41
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
1987
III
Merchandise trade, by end-use category, Census basis,
including military grant shipments:
IV
III
IV
II"
1
Merchandise exports, Census basis, including military grant
shipments.
Agricultural products
Nonagricultural products
Excluding military grant shipments
216,511
52,990
55,388
51,641
56,492
57,770
62,522
52,743
53,844
54,252
55,672
57,550
60,992
26,596
189,915
189,902
7,462
45,528
45,526
5,753
49,635
49,633
5,669
45,972
45,967
7,712
48,780
48,776
6,979
50,791
50,788
6,630
55,892
55,889
6,950
45,793
45,790
6,198
47,646
47,644
6,527
47,725
47,721
6,921
48,751
48,747
6,433
51,117
51,113
7,078
53,914
53,911
22,161
6,166
4,795
5,123
6,077
5,459
20,738
9,830
3,281
4,301
6,605
5,947
2,905
864
1,510
1,533
4,519
2,026
743
930
1,563
4,474
2,444
1,047
434
1,596
5,797
2,456
627
1,428
1,914
5,188
2,469
615
1,114
1,605
1,423
219
649
280
271
57,492
14,055
15,233
15,076
5,278
823
1,205
3,250
1,383
203
293
887
14,047
1,111
105
247
758
14,157
1,081
185
166
729
1,703
330
498
875
1,630
378
322
930
16,638
1,453
375
247
831
52,214
8,249
4,037
3,800
12,672
2,147
824
1,173
12,936
2,169
1,145
902
13,076
1,942
1,095
776
13,530
1,992
972
949
13,446
1,758
725
981
4,771
2,565
18,604
8,928
1,097
635
4,517
2,148
1,164
636
4,559
2,182
1,234
620
4,777
2,221
1,276
675
4,751
2,377
1,287
1,376
6,436
321
343
345
329
304
320
1,466
1,552
1,657
377
462
656
19,155
15,100
3,834
18,425
14,389
3,603
1,478
7,562
5,673
44,972
5,266
3,566
12,674
1,515
16,400
15,015
5,551
18,523
14,575
3,446
369
1,686
1,390
11,129
1,576
865
3,154
420
3,785
3,452
1,330
2,018
1,429
11,266
1,409
933
3,204
441
3,944
3,601
1,335
Civilian aircraft, engines, and parts
Civilian aircraft, complete, all types
Other transportation equipment
14,746
7,334
1,653
3,527
1,729
421
Automotive vehicles, parts, and engines
22,079
Foods, feeds, and beverages
Agricultural
Grains and preparations
Wheat
Soybeans
Other agricultural foods, feeds, and beverages
Nonagricultural (fish, distilled beverages, etc.)
Industrial supplies and materials
Agricultural
Raw cotton, including linters
Tobacco, unmanufactured
Other agricultural industrial supplies (hides, tallow,
etc.).
Nonagricultural
Fuels and lubricants 7
Coal and related fuels
Petroleum and products
Paper and paper base stocks
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)
29
Seasonally adjusted
1986
1986
Line
2,101
Capital goods, except automotive
Machinery, except consumer-type
Electrical and electronic, including parts and
attachments.
Generators, transformers, and accessories
Broadcasting and communications equipment
Telephonic and other electrical apparatus
Nonelectrical, including parts and attachments
Construction machinery and nonfarm tractors
Textile and other specialized industry machinery
Other industrial machinery, n.e.c
Agricultural machinery and farm tractors
Business and office machines, computers, etc
Electronic computers and parts
Scientific, professional, and service industry
equipment.
76,083
59,685
14,713
,
5,937
5,180
5,462
5,582
5,280
5,790
5,569
2,805
919
1,189
1,574
4,834
2,211
819
1,080
1,543
5,094
2,559
928
856
5,241
2,255
616
1,176
1,809
4,828
2,337
655
841
5,359
2,810
826
795
1,754
368
346
14,231
13,755
1,250
141
315
794
1,242
15,185
1,958
886
975
12,981
2,327
1,076
1,101
12,513
2,067
1,019
925
1,381
710
4,951
2,450
1,525
750
5,693
2,713
1,116
637
4,544
2,160
316
383
204
392
321
408
1,817
1,761
1,600
435
607
380
19,980
353
1,907
1,342
10,786
1,107
861
3,061
334
4,054
3,711
1,370
15,620
368
1,951
1,511
11,790
1,175
908
3,255
319
4,617
4,251
1,516
19,530
15,354
3,867
381
1,970
1,516
11,487
1,033
876
3,200
368
4,482
4,079
1,528
3,594
1,786
461
3,675
1,830
361
3,950
1,990
410
3,786
1,848
390
276
5,056
2,584
749
709
1,763
347
1,679
368
341
15,061
1,650
452
431
16,334
1,468
328
311
829
15,189
1,445
279
343
823
13,127
1,915
987
857
13,593
1,941
954
916
13,744
1,929
953
924
14,736
1,884
795
992
1,121
613
4,472
2,078
1,251
648
4,738
2,283
1,283
668
4,849
2,407
1,405
713
4,981
2,458
1,472
724
5,589
2,589
379
342
1,476
304
322
1,537
295
328
309
383
255
391
377
462
1,670
1,752
279
400
1,798
1,612
607
380
19,704
14,445
1,318
257
240
821
20,886
18,475
18,487
656
17,067
4,367
14,689
3,445
14,721
3,722
387
2,320
1,660
12,700
1,168
976
3,544
491
4,866
4,450
1,655
373
1,696
1,377
11,244
1,616
881
3,160
433
3,833
3,494
1,321
364
1,961
1,397
10,999
1,351
906
3,178
371
3,880
3,540
1,313
19,417
14,740
3,661
365
1,895
1,401
11,079
1,104
882
3,128
358
4,197
3,843
1,410
3,445
1,508
374
3,365
1,599
421
3,305
1,520
461
4,316
2,411
361
1,598
383
337
877
435
20,260
376
2,011
1,498
11,651
1,196
897
3,208
353
4,490
4,139
1,507
19,517
15,459
3,862
385
1,979
1,498
11,597
1,062
891
3,207
379
4,538
4,126
1,520
365
2,253
1,624
12,399
1,116
947
3,515
412
4,783
4,372
1,626
3,759
1,805
410
3,668
1,765
390
3,245
1,327
374
15,535
16,641
4,242
5,705
6,168
4,673
5,533
5,993
5,570
5,535
5,293
5,681
5,857
6,027
To Canada
To all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles
Bodies, engines, parts, and accessories, n.e.c
16,313
5,766
4,358
1,347
4,639
1,529
3,327
1,346
3,989
1,544
4,315
1,678
4,891
1,797
4,184
4,055
1,480
3,893
1,400
4,181
1,500
4,138
1,719
1,739
6,353
2,958
12,768
1,749
690
3,267
1,987
920
3,261
1,187
636
2,850
1,430
713
3,390
1,559
752
3,682
2,124
914
3,650
1,642
710
3,218
1,659
805
3,071
1,537
680
3,076
1,515
763
3,403
1,454
774
3,629
1,792
795
3,440
Consumer goods (nonfood), except automotive
13,948
3,267
3,479
3,445
3,757
3,950
4,426
3,254
3,365
3,564
3,943
4,286
4,911
8,440
1,118
2,029
1,223
2,120
1,154
2,128
1,416
2,163
178
1,452
2,331
1,682
2,561
1,134
2,006
1,163
2,075
127
1,210
2.170
184
1,473
2,308
1,599
2,516
993
754
172
162
171
6,529
5,317
1,286
1,210
1,586
2,303
4,226
2,287
3,030
4,593
2,541
2,052
6,554
4,580
1,974
6,709
4,431
2,278
Consumer durables, manufactured
Consumer nondurables, manufactured
Unmanufactured consumer goods (gem stones)
Special category (military-type goods)
Exports, n.e.c, and reexports
Domestic (low-value, miscellaneous)
Foreign (reexports)
See footnotes on page 49.
597
120
136
163
4,298
1,265
993
754
20,450
9,545
10,905
4,009
2,394
1,615
6,751
5,064
2,246
2,818
2,364
4,387
1,286
4,626
2,541
2,085
167
183
114
1,210
1,586
1,265
6,552
4,554
1,998
6,895
4,527
2,368
4,011
2,414
1,597
1,404
2,189
42
SURVEY OF CURRENT BUSINESS
September 1987
Table 3.—U.S. Merchandise Trade—Continued
[Millions of dollars]
Not seasonally adjusted
1986
1986
Line
Seasonally adjusted
1987
III
IV
1987
1986
IIP
III
IV
Merchandise trade, by end-use category, Census basis, 1
including military grant shipments—Continued:
60 Merchandise imports, Census basis
365,268
86,239
Foods, feeds, and beverages
23,987
5,992
5,382
4,266
695
18,605
2,380
4,705
3,476
3,008
1,525
1,206
180
4,466
542
1,023
1,129
624
Coffee, cocoa, and sugar
Green coffee
Cane sugar
Other foods, feeds, and beverages
Meat products and poultry
Fish and shellfish
Vegetables, fruits, nuts, and preparations
Whiskey and other alcoholic beverages
95,231
93,338
100,620
87,764
89,788
93,219
94,497
95,148
99,007
5,897
6,210
6,010
6,140
5,891
5,859
6,137
6,100
5,980
6,102
1,416
1,170
152
1,265
988
178
1,175
902
186
953
688
113
995
771
107
1,463
1,206
1,332
988
185
1,173
902
181
897
688
106
771
114
4,472
533
1,145
900
704
4,631
655
1,256
707
796
5,035
650
1,281
740
5,058
657
1,267
1,098
. 728
5,145
738
1,378
1,035
769
4,428
542
1,104
1,414
1,170
160
4,445
533
1,148
814
729
4,804
655
1,203
890
772
650
1,250
884
760
657
1,365
888
874
5,104
738
1,378
941
797
99,854
26,194
25,310
24,073
24,277
24,947
26,415
26,331
24,693
24,235
24,595
25,082
25,918
Fuels and lubricants 7
Petroleum and products
37,216
33,818
11,202
10,153
8,362
7,689
9,114
8,094
9,400
8,632
10,443
9,953
11,154
10,234
8,337
7,637
8,678
7,930
9,047
8,016
9,377
8,706
10,515
10,010
Paper and paper base stocks
Materials associated with nondurable goods and farm
output, n.e.s.
Textile supplies and materials
Tobacco, unmanufactured
Chemicals, excluding medicinals
Other (hides, copra, materials for making photos,
drugs, dyes).
7,712 I
17,197
1,805
4,402
1,816
4,441
8,539
7,882
2,021
4,236
2,069
4,118
2,206
4,755
2,196
4,818
1,815
4,232
1,795
4,239
2,037
4,391
2,065
2,221
4,565
2,175
4,632
4,103
569
8,777
3,748
994
175
2,285
949
1,069
157
2,285
930
1,057
100
2,139
939
138
2,068
930
1,106
242
2,401
1,006
1,205
134
2,413
1,066
1,000
133
2,192
907
1,015
120
2,169
935
1,048
117
2,246
981
1,041
200
2,170
925
1,111
191
2,308
955
1,147
107
2,301
1,077
Building materials, except metals
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, tire
etc.).
6,383
31,346
1,455
8,762
16,745
1,462
7,323
295
2,210
3,712
1,850
8,841
438
2,167
5,081
1,795
7,482
386
2,181
3,828
1,276
7,700
336
2,204
4,124
1,463
7,123
278
2,380
3,285
1,723
7,235
384
2,373
3,266
1,643
7,489
397
2,271
3,719
1,708
8,614
383
2,116
4,975
1,669
7,460
351
2,178
3,835
1,364
7,784
324
2,197
4,216
1,635
7,285
363
2,452
3,294
1,578
7,018
341
2,318
3,162
7,859
4,384
1,645
1,105
2,663
1,155
1,612
1,088
1,938
1,036
962
1,180
743
1,213
1,645
1,102
2,663
1,141
1,612
1,095
1,938
1,047
962
1,176
743
1,198
75,121
16,944
18,920
19,354
19,903
19,340
21,508
17,341
18,662
19,378
19,740
19,771
21,238
67,665
21,403
15,227
4,726
16,787
17,616
5,598
18,036
5,747
17,688
5,481
19,423
6,195
15,623
16,529
5,303
17,640
5,543
17,873
5,599
18,118
5,738
19,154
6,162
46,262
7,601
11,455
1,942
12,017
1,998
12,289
1,874
12,207
1,941
13,228
2,168
10,665
1,788
11,226
1,941
12,098
1,998
12,274
1,875
12,380
1,941
12,992
2,167
12,808
1,817
16,378
7,658
10,501
1,788
2,945
463
3,568
1,737
3,300
472
3,831
1,911
3,369
451
4,250
1,949
3,194
432
4,729
2,061
3,193
503
4,578
1,992
3,504
533
4,898
2,125
3,056
454
3,623
1,745
3,123
427
3,843
1,892
3,343
482
4,335
1,940
3,286
454
4,577
2,082
3,313
493
4,633
2,000
3,319
485
4,916
2,105
7,456
6,924
2,080
1,718
1,591
391
2,133
2,019
807
1,738
1,613
415
1,867
1,702
467
1,652
1,503
245
2,085
1,865
536
1,718
1,591
391
2,133
2,019
807
1,738
1,613
415
1,867
1,702
467
1,653
1,503
245
2,084
1,865
536
78,084
17,786
20,419
18,649
21,230
20,545
22,430
17,778
19,087
20,715
20,505
20,605
21,085
24,827
53,257
6,274
11,512
6,757
13,662
5,226
13,423
6,570
14,660
6,594
13,951
6,311
16,119
6,253
11,525
6,118
12,969
6,072
14,643
6,384
14,120
6,559
14,046
5,754
15,331
45,206
10,324
22,554
9,797
2,623
5,366
11,914
2,784
5,721
10,671
2,606
5,372
12,824
2,311
6,095
11,136
2,765
6,644
12,712
2,879
9,779
2,639
5,360
10,871
2,614
5,602
12,384
2,774
5,557
12,172
2,297
6,035
11,185
2,784
6,636
11,658
2,713
6,714
Industrial supplies and materials
Capital goods, except automotive
Machinery, except consumer-type
Electrical and electronic, including parts and
attachments.
Nonelectrical, including 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.
Transportation equipment, except automotive
Civilian aircraft, engines, and parts
Civilian aircraft, complete, all types
Automotive vehicles, parts, and engines
101
102
103
92,257
91,541
From Canada
From all other areas
Passenger cars, new and used
Trucks, buses, and special vehicles.
Bodies, engines, parts, and accessories, n.e.s
104
105
106
107
108
109
Consumer goods (nonfood), except automotive
Consumer durables, manufactured
Electric household appliances, radio, television
Consumer nondurables, manufactured
Textile products, except rugs
Unmanufactured consumer goods (gems, nursery stock)
77,802
39,422
13,531
33,804
17,813
4,576
16,909
8,256
2,783
7,594
4,083
1,059
18,356
9,455
3,374
7,804
4,025
1,097
21,751
10,642
3,748
9,862
5,358
1,247
20,786
11,069
3,627
8,545
4,347
1,173
19,638
9,415
3,001
9,112
5,022
1,111
21,176
10,336
3,289
9,780
5,148
1,060
17,915
9,021
3,165
7,836
4,175
1,058
18,987
9,777
3,470
8,108
4,209
1,103
20,168
10,170
3,436
8,743
4,626
1,256
20,732
10,454
3,459
9,118
4,804
1,160
20,736
10,285
3,407
9,341
5,077
1,110
21,878
10,654
3,369
10,157
5,383
1,067
110
Imports, n.e.s. (low value, U.S. goods returned, military
aircraft, movies, exhibits).
10,420
2,414
2,648
2,533
2,825
2,858
2,951
2,508
2,500
2,586
2,826
2,974
2,786
See footnotes on page 49.
43
SURVEY OF CURRENT BUSINESS
September 1987
Table 4.—Selected U.S. Government Transactions
[Millions of dollars]
1986
Line
1987
1986
IV
III
Al
U.S. Government grants (excluding military) and transactions increasing Government assets, total..
19,768
3,880
4,843
6,661
4,384
3,034
3,894
11,773
3,873
7,900
2,078
668
1,410
3,249
1,252
1,997
3,459
1,453
2,006
2,987
500
2,487
2,086
715
1,372
1,991
683
8,915
1,481
6,873
121
440
1,813
208
1,489
17
100
1,624
394
1,123
6
101
4,146
715
3,265
60
107
1,332
165
996
38
133
924
189
631
-6
109
2,037
282
1,637
1
117
-920
2
-11
9
-29
-2
-944
-12
65
7
24
-66
-134
-22
9
10
47
2
34
7
2
14
19
112
165
C)
59
-130
C)
-75
19
By category
Grants, net (table 1, line 32, with sign reversed)
Financing military purchases 1
Other grants
Credits and other long-term assets (table 1, line 42, 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 44, 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 currencies disbursed for:
Grants and credits in the recipient's currency
Other grants and credits
Other U.S. Government expenditures
Assets acquired in performance of U.S. Government guarantee and insurance obligations, net..
Other assets held under Commodity Credit Corporation Charter Act, net
Assets financing military sales contracts, net 2
Other short-term assets (including changes in administrative cash holdings), net
50
50
120
25
14
23
48
5
1
261
-909
(*)
3
1
77
-48
C)
-13
29
1,481
1,924
13,178
1,230
991
575
219
261
431
454
2,506
356
93
131
82
77
128
13,164
5,240
2,817
3,742
1,448
2,294
1,174
483
-11
(•)
50
-935
(*)
By program
Capital subscriptions and contributions to international financial institutions, excluding IMF..
Under Agricultural Trade Development and Assistance Act and related programs
Under Foreign Assistance Act and related programs
Under Export-Import Bank Act
Under Commodity Credit Corporation Charter Act
Under other grant and credit programs
Other foreign currency assets acquired (lines A13, A14, and A16)
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)
Other (including changes in administrative cash holdings), net
By disposition
715
677
3,858
458
751
113
31
50
108
165
425
3,258
106
71
225
58
59
136
189
225
2,229
152
158
114
46
112
33
282
333
2,559
435
64
112
36
59
3,044
1,333
680
603
303
3,271
1,400
540
',160
412
4,631
1,324
1,176
1,447
2,217
1,184
420
532
348
2,282
1,262
419
456
218
2,900
1,013
726
809
499
300
353
170
-10
747
190
55
1,063
562
186
-9
184
70
72
(*)
173
1
3
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 1
By g r a n t s 1
U.S. Government grants and credits to repay prior U.S. Government credits * 4
U.S. Government long- and short-term credits to repay prior U.S. private credits 6 and other assets..
Increase in liabilities associated with U.S. Government grants and transactions increasing
Government assets (including changes in retained accounts) 7 (line Cll).
Less receipts on short-term U.S. Government assets (a) financing military sales contracts, 1 (b)
financing repayment of private credits and other assets, and (c) financing expenditures on U.S.
merchandise.
Less foreign currencies used by U.S. Government other than for grants or credits (line A19)
Estimated dollar payments to foreign countries and international financial institutions
Repayments on U.S. Government long-term assets, total (table 1, line 43)
Receipts
Under
Under
Under
Under
Under
394
369
3,556
310
76
106
49
75
of principal on U.S. Government credits
Agricultural Trade Development and Assistance Act and related programs
Foreign Assistance Act and related programs
Export-Import Bank Act.
Commodity Credit Corporation Charter Act
other credit programs
(••)
21
261
75
50
59
112
59
6,604
1,572
2,029
2,167
752
995
6,075
1,413
1,433
1,733
1,496
1,012
1,815
5,634
367
1,669
2,903
572
1,304
84
461
719
29
11
1,324
46
323
900
51
4
1,620
92
347
742
436
3
1,386
145
538
543
56
104
901
31
250
564
47
1,703
50
344
1,284
23
109
110
113
110
111
122
Receipts on other long-term assets
441
Cl
310
267
147
1
113
925
999
-607
-1,381
1,723
1,768
7,239
438
1,955
920
1,442
1,065
1,516
-655
2,326
-1,370
1,938
-1,501
-1,328
2,206
875
-565
219
C)
150
-564
170
-524
337
523
161
262
160
700
3,742
1,448
603
303
1,160
412
1,447
532
456
218
809
499
2,294
8,903
300
1,902
747
2,096
1,063
2,252
184
2,653
239
3,341
310
3,483
Associated with U.S. Government grants and transactions increasing Government assets (including
changes in retained accounts) 7 (Tine A42).
-11
-10
Associated with other liabilities
Sales of nuclear material by Department of Energy
Sales of space launch and other services by National Aeronautics and Space Administration
Other sales and miscellaneous operations
-34
-77
47
-4
-22
-24
5
-2
U.S. Government liabilities other than securities, total, net increase ( + ) (table 1, line 55)
Associated with military sales contracts 2
U.S. Government cash receipts from foreign governments (including principal repayments on credits
financing military sales contracts), net of refunds x.
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 A36)
By long-term credits
By short-term credits *
By grants J
Less transfers of goods and services (including transfers financed by grants for military purchases,
and by credits)* 2 (table 1, line 3).
See footnotes on page 49.
-9
-3
-15
24
-12
-58
-21
2
(*)
48
-16
16
49
-12
-27
14
1
-173
-25
-56
-92
SURVEY OF CURRENT BUSINESS
44
September 1987
Table 5.—Direct Investment: Income, Capital, Royalties and License Fees, and Other Private Services
[Millions of dollars]
1987
1986
(Credits + ; debits
Line
)
1986
I
II
III
IV
lr
II"
U.S. direct investment abroad:
32
33
34
35
36
37
38
39
40
41
42
43
Income (table 1, line 12)
Income before capital gains/losses
Capital gains/losses (gains +, losses —) l
Earnings (net of withholding taxes)
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes)
U.S. parents' receipts .
U.S. parents' payments
Capital (table 1, line 46)
Equity capital
Increases in equity capital23
Decreases in equity capital
Reinvested earnings
Intercompany debt
U.S. parents' receivables
U.S. parents' payables
Royalties and license fees (table 1, line 7)
U.S. parents' receipts
U.S. parents' payments
Other private services (table 1, line 9)
U.S. parents' receipts
U.S. parents' payments
By industry of affiliate 4
Income (line 1).
Petroleum
Manufacturing
Other
Income before capital gains/losses (line 2)
Petroleum
Manufacturing
Other
Capital:
Equity capital (line 11)
Petroleum
Manufacturing
Other
Reinvested earnings (line 14, or line 6 with sign reversed)
Petroleum
Manufacturing
Other
Intercompany debt (line 15)
Petroleum
Manufacturing
Other
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
Foreign direct investment in the United States:
Income (table 1 line 27)
Income before capital gains/losses
Capital gains/losses (gains — • losses + ) 5
Earnings (net of withholding taxes)
Distributed earnings
Reinvested earnings
Interest (net of withholding taxes)
U.S. affiliates' payments
U.S. affiliates' receipts
Capital (table 1, line 59)
Equity capital
Increases in equity capital 2
Decreases in equity capital 3
Reinvested earnings
Intercompany debt
U.S affiliates' payables
U.S. affiliates' receivables
Royalties and license fees (table 1, line 22)
U.S. affiliates' payments
U.S. affiliates' receipts
Other private services (table 1 line 24)
U S affiliates' payments
U S affiliates' receipts
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
By industry of affiliate:
Income (line 44)
Petroleum
Manufacturing
Other-
10,345
7,421
2,924
11,234
4,662
6,572
-890
365
-1,255
-11,460
159
-1,494
1,653
-6,572
-5,046
-2,875
-2,172
891
910
-20
686
1,322
-636
9,317
7,277
2,040
10,146
3,336
6,810
-829
410
-1,239
-8,771
-76
-1,919
1,843
-6,810
-1,885
-1,755
-131
1,111
1,132
-22
784
1,384
-601
7,748
5,820
1,928
8,527
4,434
4,093
-778
378
-1,157
-6,222
427
-1,654
2,081
-4,093
-2,556
1,417
-3,973
1,116
1,136
-20
813
1,451
-639
9,287
7,347
1,940
10,079
8,659
1,419
-791
367
-1,158
-1,594
-940
-5,865
4,925
-1,419
765
962
-196
1,598
1,643
-44
801
1,463
-661
12,378
7,743
4,635
12,988
4,343
8,645
-609
381
-990
-10,362
-1,074
-3,342
2,268
-8,645
-644
-1,208
564
1,384
1,400
-16
511
1,190
-680
9,631
8,753
878
10,148
3,845
6,303
-517
375
-892
-5,866
695
-1,060
1,754
-6,303
-257
1,168
-1,425
1,342
1,362
-20
574
1,239
-665
36,697
7,470
17,813
11,415
27,865
5,829
13,701
8,335
10,345
3,294
3,812
3,239
7,421
2,360
3,007
2,054
9,317
1,590
4,762
2,965
7,277
1,309
3,596
2,372
7,748
962
4,258
2,528
5,820
950
3,030
1,840
9,287
1,623
4,981
2,683
7,347
1,210
4,068
2,069
12,378
1,899
6,659
3,820
7,743
1,375
3,975
2,393
9,631
1,797
4,779
3,055
8,753
1,634
4,547
2,572
-431
-525
3,107
-3,013
-18,894
-828
-11,008
-7,058
-8,722
-2,068
-2,531
-4,123
159
-149
264
44
-6,572
-1,198
-2,637
-2,737
-5,046
-1,589
-568
-2,889
-76
-867
96
695
-6,810
-412
-3,845
-2,553
-1,885
1,625
-970
-2,540
427
650
160
-383
-4,093
275
-2,926
-1,442
-2,556
-1,148
124
-1,533
-940
-158
2,587
-3,369
-1,419
507
-1,600
-326
765
-957
-1,117
2,839
-1,074
-286
328
-1,115
-8,645
-613
-5,095
-2,937
-644
545
58
-1,247
695
-142
-77
914
-6,303
-812
-3,289
-2,203
-257
540
299
-1,097
-5,846
-7,149
1,303
-2,481
-3,788
1308
-3,365
-4,200
835
25,053
19,475
24,544
-5,069
- 1 308
6,886
10,329
-3,444
-616
-741
125
1,324
-1,403
2,726
-2,373
-1,606
-767
-1,654
-971
-684
-719
-909
190
1,846
970
3,003
-2,033
684
193
1,299
-1,107
-138
-162
24
290
-311
601
-2,304
-2,480
176
-1,496
-862
-633
-808
-1,028
220
4,536
3,223
3,859
-636
633
679
1,558
-879
-151
-192
41
326
-374
700
-855
-1,201
346
10
-1,022
1032
-865
-1,081
216
6,077
6,097
6,560
-463
— 1 032
1^012
1,454
-442
-163
-184
21
301
-328
630
-314
-1,862
1,549
660
-933
1593
-973
-1,183
210
12,594
9,185
11,122
-1,937
— 1 593
5^002
6,018
-1,016
-164
-202
38
407
-389
796
-3,430
-2,488
-942
-2,556
-1,002
-1,553
-874
-1,094
219
7,726
1,768
2,729
-961
1,553
4,404
5,686
-1,282
-174
-194
20
101
-485
586
-2,861
-2,832
-29
-1,906
-1,072
-833
-956
-1,174
218
7,215
2,615
3,019
-404
833
3,767
3,035
732
-192
-220
28
137
— 465
602
- 5 846
-401
-369
-5,463
-7,149
-1,286
-2,443
-3,732
- 2 373
-443
-226
-1,839
-1,606
-468
-290
-992
- 2 304
170
-874
-1,799
-2,480
-476
-906
-1,209
-855
77
-197
-767
-1,201
-89
-437
-713
-314
-204
928
-1,059
-1,862
-254
-810
-818
-3,430
-301
-1,244
-1,884
-2,488
-301
-1,134
-1,053
- 2 861
-647
-1,235
-979
-2,832
-667
-1,215
-951
19,475
829
7,495
9,337
-1,308
-826
-1,547
1,644
6,886
1,156
2,852
1,137
970
19
-36
754
684
83
-147
918
193
-390
567
-262
3,223
5
1,416
1,275
633
-498
430
935
679
-166
231
436
6,097
596
2,223
3,005
-1,032
-312
-205
-432
1,012
257
24
100
9,185
210
3,891
4,303
-1,593
-100
-1,625
223
5,002
1,455
2,030
863
1,768
37
988
744
1,553
-44
832
765
4,404
-839
4,413
830
2,615
1
1,279
1,335
833
277
743
-187
3,767
64
31
3,671
4
Income before capital gains/losses (line 45)
Petroleum
Manufacturing
OtherCapital:
Equity capital (line 54)
Petroleum
Manufacturing
Other
Reinvested earnings (line 57, or line 49 with sign reversed)
Pet roleum
Manufacturing
Other
Intercompany debt (line 58)
Petroleum
Manufacturing
Other
See footnotes on page 49.
36,697
27,865
8,832
39,986
21,092
18,894
-3,288
1,520
-4,808
-28,047
-431
-10,933
10,502
-18,894
-8,722
-2,251
-6,472
4,715
4,821
-106
3,084
5,620
-2,536
SURVEY OF CURRENT BUSINESS
September 1987
45
Table 6.—Securities Transactions
[Millions of dollars]
1987
1986
Line
(Credits + ; debits - )
1986
III
Al
Foreign securities, net U.S. purchases ( —), (table 1, line 47 or lines 2 + 1 1 below)..
Stocks, net U.S. purchases
-3,302
-5,886
-1,149
620
3,113
-1,345
-741
-1,922
-1,980
1,194
1,967
-1,208
-240
-375
-104
-232
-1,671
-1,005
-657
-320
-158
1,434
148
221
15
1,442
-171
2,342
903
222
-107
1,892
-346
-976
-874
-1,121
-889
431
356
-574
New issues in the United States...
Of which Canada
-924
-104
Transactions in outstanding stocks, net..
Western Europe
Of which United Kingdom
Canada
Japan
Other
183
-434
-520
-943
2,104
-544
-1,922
-480
-306
-531
-1,072
161
-2,561
-3,964
831
-6,708
-1,863
-843
-3,150
-1,186
-926
-1,446
-885
-385
-96
-497
-497
-247
-996
-1,477
-481
-197
-247
-2,789
-1,446
-885
-497
-99
3,717
672
1,052
"2,442"
"397"
852
1,275
275
200
300
500
430
-14,204
-13,045
-768
6,282
9,120
-2,773
-5,174
-5,421
-406
1,789
1,018
622
-2,233
-1,497
-465
218
3,102
-641
-4,468
-4,116
105
999
2,723
70,802
18,571
17,074
17,023
5,915
6,767
4,247
9,028
289
1,448
4,556
686
3,208
4,101
4,636
590
1,397
2,177
112
340
827
3,706
-37
780
1,284
196
846
2,019
1,874
-172
-109
1,404
378
1,365
630
-1,188
-92
-620
Corporate and other bonds, net foreign purchases
53,779
12,656
16,121
By type:
New issues sold abroad by U.S. corporations 4
U.S. federally-sponsored agency bonds, net
Other outstanding bonds, net
39,378
8,220
6,181
9,977
1,378
1,301
By area:
Western Europe....
Of which Germany
Switzerland..
United Kingdom
Canada
Japan
Other countries
International financial institutions 2
39,700
-311
4,566
34,084
544
9,833
3,134
568
14,366
-1,214
-1,614
734
9,549
Bonds, net U.S. purchases
New issues in the United States
By issuer:
Central governments and their agencies and corporations
Other governments and their agencies and corporations 1
Private corporations
International financial institutions 2
By area:
Western Europe
Canada
Japan
Latin America
Other countries
International financial institutions 2 ..
Redemptions of U.S.-held foreign bonds 3
Western Europe
Canada
Other countries
International financial institutions 2
Other transactions in outstanding bonds, net 3
Western Europe
Of which United Kingdom
Canada
Japan
Other
Bl
IV
U.S. securities, excluding Treasury securities and transactions of foreign official agencies, net
foreign purchases ( + ), (table 1, line 61 or lines 2 + 10 below).
Stocks, net foreign purchases
By area:
Western Europe..
Of wh ich Germany....
Switzerland
" " irla *
United Kingdom..
Canada
Japan
Other
-99
-342
-159
-150
-245
-1,445
-157
991
-501
-26
-601
2,110
-17
1,146
-137
547
-3,106
-1,139
-1,001
-1,426
-395
-680
-.605
-891
-188
-60
-193
-325
-87
-396
-440
-134
-472
-133
-396
-799
-590
-492
-245
-1,112
-605
-565
963
1,030
1,094
447
347
"35O
3,222
-2,329
-2,011
-2
3,276
2,277
-92
-1,175
-1,175
-168
-788
2,039
748
-2,449
-3,415
-123
1,851
1,469
12,269
18,499
15,858
9,831
8,335
657
625
4,528
85
333
2,350
285
3,442
1,576
3,003
-151
409
1,455
23
4,035
1,274
12,827
12,175
8,668
7,523
11,825
2,764
1,532
10,254
1,855
718
7,322
2,223
2,630
7,000
908
760
5,929
752
842
9,767
-197
1,243
8,520
-228
2,518
473
126
12,799
129
2,193
10,456
183
1,568
845
726
8,451
-195
111
7,709
196
3,405
1,016
-241
8,683
-48
353
7,399
393
2,342
800
-43
6,386
125
697
5,533
449
1,554
144
135
6,428
-66
337
5,882
230
-4
725
144
1,357
-177
97
266
5,805
5,630
-644
-685
154
3,905
3,361
-276
-538
236
2,148
4,018
-117
8,165
-62
-36
-325
-381
10,650
256
-231
-82
-2,168
'"663"
'536"
800
450
Memoranda:
Other foreign transactions in marketable, long-term U.S. securities included elsewhere in
international transactions accounts:
Foreign official assets in the United States (lines in table 9):
U.S. Treasury marketable bonds (line A4)
Other U.S. Government securities (line A6)
U.S. corporate and other bonds (part of line A14)
U.S. stocks (part of line A14)
Other foreign transactions in U.S. Treasury bonds and notes (table 9, line B4)
New issues of bonds sold abroad by U.S. corporations' finance affiliates in the Netherlands
Antilles (included in table 5, line 17) 4 .
See footnotes on page 49.
78
-2,309
SURVEY OF CURRENT BUSINESS
46
September 1987
Table 7.—Claims on and Liabilities to Unaffiliated Foreigners Reported by U.S. Nonbanking Concerns
[Millions of dollars]
1986
(Credits +; increase in U.S. liabilities or decrease in U.S. assets.
Debits —; decrease in U.S. liabilities or increase in U.S. assets.)
Line
Al
2
3
4
5
6
Claims, total (table 1, line 48)
1987
Amounts
outstanding March
31, 1987
1986
III
IV
-3,986
-2,947
-1,894
170
-1,163
-4,409
-1251
-158
-3,547
-3,646
99
-2,141
-2,116
-25
637
769
642
742
-100
-1,209
-976
-233
n.a.
re. a.
re. a.
24,069
21,988
2,081
By type: Deposits
Other claims x
-3,018
-1,391
-3,411
-136
-2,218
77
2,267
-1,630
344
-1,222
n.a.
n.a.
18,209
5,860
By area: Industrial countries 2
Of which United Kingdom
Canada
Caribbean banking centers 3
Other
-2,913
-1,605
-848
-1,331
-165
-1,276
-586
-760
-2,237
-34
-3,009
-2,489
-409
832
36
737
274
612
-61
635
1,196
-291
135
-128
-971
-1,116
252
-308
70
n.a.
n.a.
n.a.
n.a.
n.a.
14,172
8,444
3,855
9,072
825
Commercial claims
Denominated in U.S. dollars
Denominated in foreign currencies
423
527
-104
600
585
15
247
216
31
48
209
-161
-472
-483
11
46
265
-219
217
206
609
286
-123
171
-555
83
-24
70
8,504
1,172
526
-67
-36
356
-26
270
183
-16
21
-61
-101
-46
-325
-321
155
212
5,720
1,018
2,938
Financial claims
Denominated in U.S. dollars
Denominated in foreign currencies
By type: Trade receivables
Advance payments and other claims ..
By area: Industrial countries 2
Members of OPEC 4
Other
-2,791
-2,193
-1,553
1,035
1,761
Financial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
-1,430
-1,376
-54
-544
-608
64
-1,394
-1,189
-205
152
-98
250
356
519
-163
522
By area: Industrial countries 2
Of which United Kingdom
Caribbean banking centers 3
Other
-94
534
-1,153
-183
-143
-37
-371
-30
-890
57
-356
-148
329
-2
-146
-31
610
516
-280
26
168
126
418
-64
Commercial liabilities
Denominated in U.S. dollars
Denominated in foreign currencies
-1,361
-1,579
218
-1,649
-1,953
304
-159
-232
-183
679
821
-142
1,239
-205
By type: Trade payables
Advance receipts and other liabilities.
-358
-1,003
-1,067
-582
-146
-13
120
-352
735
-56
504
735
By area: Industrial countries 2
Members of OPEC 4
Other
261
-1,729
107
-353
-571
-725
-108
-239
528
-665
-95
194
-254
739
588
261
390
Liabilities, total (table 1, line 62)
See footnotes on page 49.
1,444
33,745
n.a.
re. a.
re. a.
9,676
8,700
976
27,810
n.a.
re. a.
re. a.
n.a.
n.a.
n.a.
n.a.
n.a.
re. a.
re. a.
12,609
10,008
2,601
9,772
4,914
2,285
552
15,201
12,353
6,832
n.a.
n.a.
n.a.
9,897
2,427
2,877
47
SURVEY OF CURRENT BUSINESS
September 1987
Table 8.—Claims on Foreigners Reported by U.S. Banks
[Millions of dollars]
1986
Line
(Credits -f-; decrease in U.S. assets. Debits —; increase in U.S. assets.)
Total (table 1, line 49)
By type:
Banks own claims
Payable in dollars
By borrower:
Claims on:
own foreign offices
unaffiliated foreign banks
foreign public borrowers *
other private foreigners
By bank ownership: 2
U.S.-owned banks' claims on:
own foreign offices.
unaffiliated foreign banks.
other foreigners.
Foreign-owned banks' claims on:
own foreign offices
unaffiliated foreign banks.
other foreigners.
Payable in foreign currencies.
Banks' domestic customers' claims
Payable in dollars
Deposits
Negotiable and readily transferable instruments
Outstanding collections and other.
Payable in foreign currencies
By area:
Industrial countries 3
Western Europe.
Of which United Kingdom
Canada
Japan..
OtherCaribbean banking centers 4
29
Other areas
Of which Members of OPEC, included below 5 .
Latin America.
Asia
Africa..
Other 6
Memoranda:
International banking facilities' (IBF's) own claims, payable in dollars (lines 1
13 above).
By borrower:
Claims on:
own foreign offices
unaffiliated foreign banks
foreign public borrowers
all other foreigners
By bank ownership: 2
U.S.-owned IBF's
Foreign-owned IBF's
Banks' dollar acceptances payable by foreigners
See footnotes on page 49.
1987
1986
-59,039
6,373
-14,734
III
IV
-18,878
-31,800
II'
25,686
-20,195
Amounts
outstanding June
30, 1987
500,086
-51,916
3,382
-11,009
-15,639
-28,650
22,825
-19,904
466,092
-42,851
6,816
-9,474
-12,336
-27,857
29,936
-18,890
433,330
-37,761
-6,166
-3,076
4,152
819
6,084
-180
93
-8,474
-2,779
67
1,712
-11,434
-3,489
17
2,570
-18,672
-5,982
-2,980
-223
21,689
5,683
1,213
1,351
-10,305
-7,952
-845
212
200,201
125,239
63,640
44,250
-7,162
-4,179
-1,557
6,196
2,314
-3,457
-1,622
1,936
-5,350
2,791
2,960
-4,551
-7,662
-6,642
11,081
10,097
3,744
-5,743
1,859
-1,560
95,614
46,694
61,660
-30,599
-1,987
2,633
-5,377
3,770
-276
-5,017
-1,157
-157
-6,084
-6,280
-373
-14,121
1,680
3,439
10,608
-4,414
-1,180
-4,562
-9,811
927
104,587
78,545
46,230
-9,065
-3,434
-1,535
-3,303
-793
-7,111
-1,014
32,762
-7,123
-5,091
-1,078
-4,713
700
-2,032
2,991
3,837
841
1,473
1,523
-846
-3,725
-3,766
-981
-2,762
-23
41
-3,239
-2,965
-193
-1,717
-1,055
-274
-3,150
-2,197
-745
-1,707
255
-953
2,861
2,386
1,011
3,494
-2,118
474
-292
-1,524
-72
-833
-619
1,232
33,995
33,106
3,474
21,384
8,249
-46,749
-10,132
-3,494
-5,118
-32,077
578
393
7,417
6,650
-1,966
-5,358
300
-9,904
-5,927
-2,964
-131
-4,344
-12,008
-8,098
-8,483
-76
-3,565
-269
-25,230
-3,524
1,303
-2,945
-18,810
49
13,639
8,159
5,711
789
4,666
25
-18,113
-14,005
-5,207
1,032
-5,394
254
244,849
148,787
85,037
23,636
68,120
4,306
-8,803
5,126
-5,048
-6,226
-2,655
-3,092
112,454
-3,487
247
765
-2,142
407
-2,517
854
681
496
-80
207
231
218
-87
-43
854
31
-624
-644
-23
472
-2,244
225
903
-3,915
-324
-160
-672
-56
-3,027
3,441
-1,292
410
976
-231
2,286
1,010
1,066
-10
2,898
96
-1,974
142,783
19,609
98,273
36,674
3,571
4,265
-23,169
1,880
-1,987
-11,457
-11,605
10,202
-11,709
218,673
-19,643
-3,224
-2,273
1,971
4,268
-667
647
-3,134
1,057
-458
548
-4,453
-6,497
-758
251
-2,052
-390
525
9,942
-258
-413
931
-4,899
-7,129
-212
531
67,003
81,079
47,334
23,257
5,945
-29,114
2,880
2,341
-461
-162
-2,590
355
-117
-11,340
1,211
3,118
-14,723
1,476
914
9,288
166
-2,503
-9,206
2,001
69,144
149,529
23,449
SURVEY OF CURRENT BUSINESS
48
September 1987
Table 9.—Foreign Official Assets and Other Foreign Assets in the United States Reported by U.S. Banks
[Millions of dollars]
1987
1986
Line
(Credits +; increase in foreign assets. Debits —; decrease in foreign assets.)
III
Foreign official assets in the United States (table 1, line 51)
By type:
U.S. Treasury securities (table 1, line 53)
Bills and certificates
Bonds and notes, marketable
Bonds and notes, nonmarketable
Other U.S. Government securities (table 1, line 54)
Other U.S. Government liabilities (table 1, line 55)
U.S. liabilities reported by U.S. banks, not included elsewhere (table 1, line 56)...
Banks' liabilities for own account, payable in dollars 1
Demand deposits
Time deposits x
Other liabilities 2
Banks' custody liabilities, payable in dollars l 3
Amounts
outstanding June
30, 1987
1986
IV
34,698
2,576
34,515
22,398
14,366
-2,250
-1,214
1,723
554
3,961
190
-372
4,143
-3,407
3,238
2,681
1,357
-800
-177
406
-1,254
891
-160
-690
1,741
-2,145
363
14,538
9,857
5,630
-950
-644
925
1,280
1,820
214
241
1,365
-540
-531
12,167
9,306
3,361
-500
-276
999
2,963
3,423
-236
423
3,236
-460
-302
85,625
15,522
7,604
30,969
31,530
Other foreign official assets (table 1, line 57)
1,003
13,953
9,389
264,479
4,572
554
4,018
12,145
3,980
8,165
"-117"
-607
-2,435
-2,173
372
-346
-2,199
-262
-410
-62"
-1,381
3,611
2,969
-344
384
2,929
642
-360
11,082
1,033
10,649
-600
256
-1,501
-135
-391
-179
1,491
-1,703
256
-313
193,975
80,663
112,612
700
6,881
14,488
31,103
27,714
1,745
12,627
13,342
3,389
18,032
-15,184
12,588
543,891
By area: (see text table B)
Other foreign assets in the United States (table 1, lines 60 and 63)
8,275
7,035
3,705
609
-3,074
-1,570
-2,562
91,821
By security:
Bills and certificates
Marketable bonds and notes...
-1,274
9,549
1,230
5,805
-200
3,905
-1,539
2,148
-765
-2,309
-1,189
-381
-394
-2,168
13,026
78,795
By holder:
Foreign banks
Other private foreigners
International financial institutions 4
130
10,787
-2,642
299
2,977
3,759
557
4,597
-1,449
-52
5,482
-4,821
-674
-2,269
-131
-218
-2,461
1,109
-679
445
-2,328
9,066
72,565
10,190
77,350
73,673
59,144
8,487
8,369
2,473
3,899
2,857
30,360
28,128
22,905
34,604
34,319
33,775
-13,614
-11,100
-18,015
15,150
11,922
12,541
452,070
409,970
374,153
U.S. Treasury securities (line 60)
U.S. liabilities reported by U.S. banks (line 63)..
Banks' own liabilities 1
Payable in dollars
By account:
Liabilities to own foreign offices
Liabilities to unaffiliated foreigners:
demand deposits
time deposits l
other liabilities 2
35,183
2,374
10,994
20,374
-9,132
4,106
203,938
2,489
14,376
7,096
-750
-463
1,312
1,253
-1,169
-1,534
-80
9,622
2,369
2,066
6,386
4,949
-1,142
-6,390
-1,351
1,098
6,260
1,077
21,477
120,404
28,334
35,183
21,668
1,938
356
2,374
883
484
-1,268
1,441
-2,141
1,153
-462
10,994
10,277
804
830
20,374
12,649
-503
1,256
-9,132
-5,704
-2,840
-340
4,106
7,106
1,350
-21
203,938
102,364
65,560
2,291
-2,244
4,244
-1,260
-1,668
2,364
-2,469
-6,783
-1,306
301
6,727
845
1,227
-520
2,341
-319
-1,306
-1,627
7,270
597
1,140
89,313
21,706
40,442
37,427
17,424
3,553
4,042
-1,481
1,685
8,224
-835
390
4,267
9,432
407
20,894
10,308
1,072
-7,826
-4,077
-2,297
-3,164
6,509
114,625
80,658
27,409
3,677
2,036
118
-244
1,042
855
2,232
-3
285
1,428
-2,513
-2,434
3,228
1,698
42,100
13,272
55,814
22,245
9,378
24,191
27,464
2,348
459
1,189
3,510
-594
-1,757
12,871
-286
5,722
7,435
75
2,576
-591
-801
1,287
-772
2,862
9,865
6,984
1,219
1,662
-1,433
-828
31
1,374
-14
174
-2,363
16,871
4,923
845
11,103
16,735
-2,637
308
297
1,153
-183
-3,904
16,207
10,624
1,592
3,991
12,086
3,237
711
319
1,084
187
1,647
-1,472
2,043
-1,038
-2,477
-12,095
-1,617
-767
-1,420
-704
-174
10,611
17,011
-2,460
-3,940
-192
2,169
1,128
786
3,459
65
-2,141
291,050
197,054
26,009
67,987
152,080
100,761
21,934
47,984
35,024
2,265
15,488
36,017
1,485
-2,526
14,899
22,159
-15,367
8,317
212,341
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
foreign official agencies
other private foreigners and international financial institutions 4
18,823
18,293
681
-1,781
767
1,155
33
-470
466
-2,676
885
-1,201
3,662
10,111
461
665
13,929
9,703
-775
-8,232
-4,452
1,060
-3,743
-1,257
6,631
2,693
250
93,347
82,907
14,004
22,083
By bank ownership: 5
U.S.-owned IBF's
Foreign-owned IBF's
-4,354
40,371
-1,052
2,537
-5,525
2,999
2,381
12,518
-158
22,317
-1,801
-13,566
585
7,732
62,537
149,804
-2,501
-3,242
166
759
By holder:
Liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners
international financial institutions 4
By bank ownership: 5
U.S.-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions 4 .
Foreign-owned banks' liabilities to:
own foreign offices
unaffiliated foreign banks
other private foreigners and international financial institutions 4 ..
Payable in foreign currencies
By area:
Industrial countries 6
Western Europe
Canada
Other
Caribbean banking centers 7
Other areas
Of which Members of OPEC, included below 8
Latin America
Asia
Africa 9
Other
Memoranda:
International banking facilities' (IBF's) own liabilities, payable in dollars (in lines A9, and
BIO above).
Negotiable certificates of deposit held for foreigners
See footnotes on page 49.
1
(in lines A13 and B27 above)
35,817
6,915
5,223
Banks' custody liabilities, payable in dollars l 3
Of which negotiable and readily transferable instruments ..
7,356
SURVEY OF CURRENT BUSINESS
September 1987
49
Footnotes to U.S. International Transactions Tables 1-10
General notes for all tables:
r
Revised.
'' Preliminary.
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; increase in foreign official assets in the United States.
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; decrease in foreign offical assets in the United States.
2. Excludes transfers of goods and services under U.S. military grant programs (see line 15).
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. Beginning in 1982, line 7 and line 22 are redefined to include only net receipts and payments
for the use or sale of intangible property rights, including patents, industrial processes, trademarks, copyrights, franchises, designs, know-how, formulas, techniques, and manufacturing
rights. Other direct investment services, net—including fees for management, professional, and
technical services; charges for the use of tangible property; film and television tape rentals; and
all other charges and fees—are shown in line 9 and line 24. Data on the redefined basis are not
separately available prior to 1982.
5. For all areas, amounts outstanding June 30, 1987, were as follows in millions of dollars: Line
36, 45,139; line 37, 11,069; line 38, 8,856; line 39, 11,313; line 40, 13,902.
6. Includes sales of foreign obligations to foreigners.
7. Consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible
and nonconvertible bonds and notes.
8. Consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and
of debt securities of U.S. Government corporations and agencies.
9. Includes, primarily, U.S. Government liabilities associated with military agency sales contracts and other transactions arranged with or through foreign official agencies; see table 4.
10. Consists of investments in U.S. corporate stocks and in debt securities of private corporations and State and local governments.
11. Conceptually, the sum of lines 69 and 64 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 on direct investment in the United States, (c) includes an adjustment for the
different geographical treatment of transactions with U.S. territories and Puerto Rico, and (d)
includes services furnished without payment by financial intermediaries except life insurance
carriers and private noninsured pension plans. In addition, for NIPA purposes, U.S. Government
interest payments to foreigners are excluded from "net exports of goods and services" but included with transfers in "net Foreign investment." A reconciliation of the balance on goods and services from the international accounts and the NIPA net exports appears in the Reconciliation
and Other Special Tables" section in this issue of the SURVEY OF CURRENT BUSINESS. A reconciliation of the other foreign transactions in the two sets of accounts appears in table 4.5 of the full
set of NIPA tables (published annually in the July issue of the SURVEY).
Table 3:
1. Exports, Census basis, represent transaction values, f.a.s. U.S. port of exportation; imports,
Census basis, represent Customs values (see Technical Notes, June 1982 SURVEY). Both unadjusted and seasonally adjusted data have been prepared by BEA from "actual" and "revised statistical" month data supplied by the Census Bureau (see Technical Notes, December 1985 SURVEY).
The seasonally adjusted data are the sum of seasonally adjusted four-digit end-use categories (see
Technical Notes, June 1980 SURVEY).
2. Adjustments in lines A5 and A13, B12, B46, and B80 reflect the Census Bureau's reconciliation of discrepancies between the merchandise trade statistics published by the United States and
the counterpart statistics published in Canada. These adjustments are distributed to the affected
end-use categories in section C. Beginning in 1986, estimates for undocumented exports to
Canada, the largest item in the U.S.-Canadian reconciliation, are included in the Census basis
data shown in lines Al, Dl, and D58.
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
A14), to the extent such trade is identifiable from Customs declarations. The exports are included
in tables 1, 2, and 10, line 3 (transfers under U.S. military agency sales contracts); the imports
are included in tables 1, 2, and 10, line 18 (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; and coverage adjustments for
special situations in which shipments were omitted from Census data.
5. Deduction of foreign charges for repair of U.S. vessels abroad, which are included in tables 1,
2, and 10, line 21 (other transportation); and coverage adjustments for special situations in which
shipments were omitted from Census data.
6. Annual and unadjusted quarterly data shown in this table correspond to country and area
data in table 10, lines 2 and 17. Trade with international organizations includes purchases of nonmonetary gold from the International Monetary Fund (IMF), transfers of tin to the International
Tin Council (ITC), and sales of satellites to Intelsat. The memoranda are defined as follows: Industrial countries: Western Europe, Canada, Japan, Australia, New Zealand, and South Africa;
Members of OPEC: Venezuela, Ecuador, Iraq, Iran, Kuwait, Saudi Arabia, Qatar, United Arab
Emirates, Indonesia, Algeria, Libya, Nigeria, and Gabon; Other countries: Eastern Europe, Latin
American Republics, other Western Hemisphere, and other countries in Asia and Africa, less
OPEC. For all years, "Asia" and "Africa" exclude certain Pacific Islands and unidentified countries included in "Other countries in Asia and Africa."
7. Includes nuclear fuel materials and fuels.
Table 4:
1. Expenditures to release foreign governments from their contractual liabilities to pay for military goods and services purchased through military sales contracts—first authorized (for Israel)
under Public Law 93-199, section 4, and subsequently authorized (for many recipients) under
similar legislation—are included in line A3. Deliveries against these military sales contracts are
included in line C10; see footnote 2. Of the line A3 items, part of these military expenditures is
applied in lines A40 and A43 to reduce short-term assets previously recorded in lines A38 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 for the recipient countries and is applied
directly to lin
recipient cour
fourth part of lin
, x
„
from countries other than the United States, is included in line A45.
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 partly estimated from incomplete data.
"Less than $500,000 (±)
n.a. Not available.
3. The identification of transactions involving direct dollar outflows from the United States is
made in reports by each operating agency.
4. Line A35 includes foreign currency collected as interest and line A40 includes 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 C10 that was delivered without prepayment by the foreign purchaser. Also includes expenditures of appropriations available to release foreign purchasers from liability to
make repayment.
6. Includes purchases of loans from U.S. banks and exporters and payments by the U.S. Government under commercial export credit and investment guarantee programs.
7. Excludes liabilities associated with military sales contracts financed by U.S. Government
grants and credits and included in line C2.
Table 5:
1. Also included in line 4.
2. Acquisition of equity holdings in existing and newly established companies, capital contributions, capitalization of intercompany debt, and other equity contributions.
3. Sales, liquidations, and other dispositions of equity holdings, total and partial.
4. Petroleum includes, and manufacturing and "other" industries exclude, the exploration, development, and production of crude oil and gas, and the transportation, refining, and marketing
of petroleum products, exclusive of petrochemicals. "Other" industries includes wholesale trade;
banking; finance (except banking), insurance, and real estate; services; and other industries—agriculture, forestry, and fishing; mining; construction; transportation, communication, and public
utilities; and retail trade.
5. Also included in line 47.
Table 6:
1. Primarily provincial, regional, and municipal.
2. Largely transactions by International Bank for Reconstruction and Development (IBRD),
International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank (ADB), and Inter-American Development Bank (IDB).
3. Estimate for scheduled redemptions and identifiable early retirements. Includes estimates
based on Canadian statistics for redemptions of Canadian issues held in the United States. Unidentified and nonscheduled retirements appear in line 28.
4. Issues through finance affiliates established primarily to borrow capital from abroad. Issues
are almost always guaranteed by the establishing U.S. parent and are often convertible into the
parents' securities. To the extent proceeds are transferred from offshore affiliates to U.S. parents—the common practice—they are recorded as direct investment transactions in table 5, line
10.
Table 7:
1. Primarily mortgages, loans, and bills and notes drawn on foreigners.
2. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
3. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
4. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
Table 8:
1. Includes central governments and their agencies and corporations; state, provincial, and
local governments and their agencies and corporations; and international and regional organizations.
2. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' accounts may be commingled in some categories. Foreign-owned banks include U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
States.
3. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
4. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
5. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
6. Includes Eastern Europe and international and regional organizations.
Table 9:
1. Negotiable certificates of deposit issued by banks in the United States are included in banks'
custody liabilities and are separately identified in memorandum line 8. Nonnegotiable certificates
of deposit are included in time deposits.
2. Includes borrowing under Federal funds or repurchase arrangements, deferred credits, and
liabilities other than deposits.
3. Mainly negotiable and readily transferable instruments, excluding U.S. Treasury securities.
4. Mainly International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Asian Development Bank
(ADB), Inter-American Development Bank (IDB), and the Trust Fund of the International Monetary Fund.
5. U.S.-owned banks are mainly U.S.-chartered banks and Edge Act subsidiaries. U.S. brokers'
and dealers' liabilities may be commingled in some categories. Foreign-owned banks are U.S.
branches and agencies of foreign banks and majority-owned bank subsidiaries in the United
States.
6. Western Europe, Canada, Japan, Australia, New Zealand, and South Africa.
7. Bahamas, British West Indies (Cayman Islands), Netherlands Antilles, and Panama.
8. Based on data for Ecuador, Venezuela, Indonesia, and other Asian and African oil-exporting
countries.
9. Includes Eastern Europe and international and regional organizations.
Table 10:
For footnotes 1-11, see table 1.
12. The "European Communities (10)" includes the "European Communities (6)," United Kingdom, Denmark, Ireland, and Greece. "European Communities (12)" reflects the admission of
Spain and Portugal in 1986.
13. The "European Communities (6)" includes Belgium, France, Germany, Italy, Luxembourg,
Netherlands, European Atomic Energy Community, European Coal and Steel Community, and
European Investment Bank.
14. Includes, as part of international and unallocated, the estimated direct investment in foreign affiliates engaged in international shipping, in operating oil and gas drilling equipment that
is moved from country to country during the year, and in petroleum trading.
15. Details not shown separately; see totals in lines 51 and 58.
16. Details not shown separately are included in line 63.
SURVEY OF CURRENT BUSINESS
50
September 1987
Table 10.—U.S. International
[Millions
European Communities (12) 2
Western Europe
(Credits + ; debits - )
l
1986
1987
1986
1986
Exports of goods and services
2
III
IV
115,164
28,824
28,426
27,370
30,545
33,150
31,255
97,956
24,585
24,097
60,664
2,213
15,303
539
14,908
625
14,036
582
16,417
467
16,967
17,014
748
52,158
1,734
13,353
440
12,743
509
Travel
Passenger fares
Other transportation
2,924
1,478
4,832
591
346
1,142
723
348
1,197
910
459
1,270
700
325
1,223
699
380
1,190
960
426
1,327
2,393
1,304
3,935
480
305
941
578
304
978
Royalties and license fees from affiliated foreigners 4 ...
Royalties and license fees from unaffiliated foreigners..
Other private services from affiliated foreigners
Other private services from unaffiliated foreigners
U.S. Government miscellaneous services
2,870
737
1,461
2,287
132
540
183
247
577
57
664
184
416
594
24
641
185
408
542
21
1,025
185
391
574
29
968
189
174
645
23
801
192
197
687
33
2,575
625
1,266
1,810
109
492
153
216
460
53
599
155
375
470
21
22,127
12,418
1,023
5,786
3,234
280
5,451
3,097
195
5,024
3,050
243
5,867
3,038
7,743
3,137
5,186
3,423
18,731
10,538
778
4,637
2,567
162
304
4,741
2,766
186
236
262
12
-1
2
-125,038
-29,120
-32,159
-17,077
-2,060
-18,990
-1,949
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts....
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
Transfers of goods and services under U.S. military grant programs, net..
Imports of goods and services
20
-150,086
-35,670
-38,810
-36,732
-89,074
-8,263
-22,850
-2,042
-21,570
-2,012
-23,603
-2,054
-38,917
-22,293
-2,379
-44,201
-21,051
-2,156
-2,340
-74,269
-7,951
Travel
Passenger fares
Other transportation..
-5,003
-4,745
-5,265
-601
-1,086
-1,226
-1,519
-1,434
-1,271
-2,025
-1,250
-1,403
-858
-975
-1,365
-729
-1,202
-1,309
-2,373
-1,881
-1,506
-4,138
-3,870
-4,086
-470
-902
-960
-1,281
-1,133
-993
Royalties and license fees to affiliated foreigners 4....
Royalties and license fees to unaffiliated foreigners..
Other private services to affiliated foreigners
Other private services to unaffiliated foreigners
U.S. Government miscellaneous services
-486
-319
176
-2,711
-512
-106
-78
48
-654
-138
-126
-79
24
-702
-119
-128
-80
42
-688
-132
-126
-82
62
-666
-124
-140
-83
36
-707
-100
-153
-84
58
-782
-116
-318
-259
325
-2,349
-405
-67
-63
74
-558
-112
-64
66
-604
-94
-6,130
-18,541
-9,214
-2,051
-4,339
-2,233
-1,817
-4,636
-2,241
-712
-4,453
-2,320
-1,550
-5,113
-2,420
-2,592
-4,969
-2,450
-2,571
-5,966
-2,657
-5,053
-15,898
-6,767
-1,703
-3,664
-1,558
-1,396
-4,011'
-1,622
-2
-20
Merchandise, adjusted, excluding military
Direct defense expenditures
3
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
U.S. military grants of goods and services, net
Unilateral transfers (excluding military grants of goods and services), net
U.S. Government grants (excluding military grants of goods and services)
U.S. Government pensions and other transfers
Private remittances and other transfers
U.S. assets abroad, net (increase/capital outflow ( - ) )
5
U.S. official reserve assets, n e t
Gold
Special drawing rights
Reserve position in the International Monetary F u n d Foreign currencies
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets 6
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets, net
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere
-38,873
-26
-4
-3
-7
-12
1
-578
-35
-270
-72
-202
-19
13
17
-759
770
-30
-179
174
-285
-187
-111
-188
-163
-206
-35
-183
-46
-195
-241
-613
-44,379
-4,498
-431
-103
202
227
168
199
254
870
-16,719
-16,821
-6,342
-976
-19,775
-46,774
-99
-109
-120
298
660
-2,517
-3
13
-14
-150
202
-58
-154
225
-5,060
-550
-16,271
-1,661
-431
-103
-99
-109
-120
660
-2,517
-550
-1,661
360
-1,077
1,436
1
134
-265
447
-148
-351
156
48
33
-262
311
-17
340
-199
521
18
55
-266
314
7
-126
-541
367
48
261
-763
998
27
102
-89
231
-40
-78
-253
126
49
-44,307
-16,452
-16,358
-1,353
-10,145
-4,529
-5,743
-5,654
-490
7,357
-16,472
-4,647
-3,648
-2,328
-5,849
-16,745
-4,166
-4,560
66
-8,085
-6,562
-1,896
-2,496
1,399
-3,568
-1,329
-6,305
-1,815
-1,404
8,195
-20,308
-2,089
-4,201
n.a.
-14,018
-44,518
-14,192
-18,345
-1,284
-10,697
-4,612
-4,697
-7,213
-390
7,688
-14,532
-4,237
-3,380
-2,368
-4,546
106,207
12,576
34,492
28,097
31,042
29,727
43,116
99,459
15,759
27,752
Foreign official assets in the United States, net...
U.S. Government securities
U.S. Treasury securities 7 ..
Other 8
Other U.S. Government liabilities 9
U.S. liabilities reported by U.S. banks, not included elsewhere
Other foreign official assets 10
14,256
-1,950
~5)
7,808
5
)
7,584
814
11,246
10,877
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
Other foreign assets in the United States, net
Direct investment
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...
U.S. liabilities reported by U.S. banks, not included elsewhere
91,951
20,502
Foreign assets in the United States, net (increase/capital inflow ( + ))
(15)
12
245
-176
648
74
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
85
2,829
31
148
(16)
(16)
14,525
998
26,685
3,730
20,513
4,338
30,228
11,436
18,482
5,061
32,239
5,826
17,727
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(16)
48,728
327
14,402
-611
16,506
-542
10,325
818
7,495
662
10,913
273
9,433
n.a.
(15)
(15)
(15)
(15)
-7,119 1 -1,842
-16,170
-22,966
-10,408
-25,620
-6,202
-3,433
-7,186
-8,328
-8,366
-8,530
-5,326
-5,766
-5,750
-5,786
-6,815
-12,946
-12,887
-12,933
-22,111
-27,081
-26,824
-27,065
-3,724
-4,535
-4,483
-4,498
-6,247
-8,062
-7,992
-8,049
(15)
16
42,225
368
38,491
(16)
11,743
-473
4,330
16
(16)
16
13,130
-393
12,038
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
Memoranda:
Balance on merchandise trade (lines 2 and 17) l l
Balance on goods and services (lines 1 and 16)
Balance on goods, services, and remittances (lines 67, 33, and 34)
Balance on current account (lines 67 and 31) 1J
See footnotes on page 49.
-26,328
-1,197
-28,410
-34,922
-34,911
-35,500
-5,748
-6,847
-6,852
-6,882
-7,942
-10,385
-10,370
-10,655
-7,534
-9,363
-9,323
-9,434
SURVEY OF CURRENT BUSINESS
September 1987
51
Transactions, by Area
of dollars]
European Communities(12)12
1986
1987
1986
1987
1986
1987
1986
European Communities(6)13
United Kingdom
1986
Line
II
III
IV
Ir
II"
15,399
14,966
15,255
16,581
17,504
15,322
1
8,960
184
8,612
315
7,970
212
9,788
163
9,961
343
9,430
300
2
3
1,535
677
2,056
287
171
500
358
143
503
519
223
532
371
140
521
341
186
503
492
184
559
4
5
6
188
35
78
269
11
1,828
437
571
804
43
353
107
75
195
11
431
109
196
202
17
395
110
134
202
9
649
112
165
204
6
659
113
19
220
486
115
32
228
14
7
8
9
10
11
2,055
1,773
8
1,539
1,891
7
14,385
3,216
447
3,615
832
109
3,206
773
101
4,029
806
114
3,537
804
121
2,439
922
123
12
13
14
(*)
(*)
(*)
(*)
(*)
4,174
858
122
2
-10,354
-10,798
-12,247
-76,242
-17,789
-19,814
-19,105
-19,534
-19,476
-22,094
16
-3,645
-232
-4,137
-174
-4,019
-249
-4,205
-250
-52,517
-6,546
-12,144
-1,712
-13,465
-1,570
-13,184
-1,566
-13,724
-1,698
-13,213
-1,891
-14,189
-1,840
17
18
-454
-356
-215
-536
-341
-256
-276
-331
-250
-176
-370
-276
-669
-480
-328
-2,109
-1,869
-2,098
-241
-427
-499
-657
-585
-505
-823
-479
-546
-388
-378
-548
-301
-465
-519
-1,055
-765
-589
19
20
21
-22
-33
23
-369
-16
-31
-33
13
-405
-8
-23
-34
24
-398
-15
-24
-34
22
-355
-13
-34
-35
15
-378
-10
-40
-35
18
-398
-12
-211
-122
244
-755
-273
-44
-30
46
-173
-77
-56
-30
57
-182
-62
-51
-31
61
-192
-67
-60
-31
80
-208
-67
-59
-32
49
-228
-47
-69
-32
53
-274
-59
22
23
24
25
26
-2,733
-12,354
-2,048
-1,053
-2,806
-454
-554
-3,051
-511
-347
-3,030
-546
-779
-3,466
-538
-1,244
-3,468
-556
-1,267
-4,073
-508
-2,210
-3,309
-4,468
-638
-799
-1,052
-812
-899
-1,047
-345
-724
-1,158
-414
-887
-1,211
-767
-777
-1,225
-812
-1,077
-1,386
27
28
29
III
IV
lr
II"
23,123
26,152
28,814
26,814
25,461
6,664
6,662
5,412
6,723
8,225
8,236
62,202
11,793
426
14,269
360
14,860
691
14,735
625
11,092
423
2,838
137
2,821
103
2,895
95
3,277
112
3,598
49
35,330
873
761
409
1,025
574
286
992
560
334
962
766
375
1,074
577
419
886
133
104
205
144
124
214
2,538
88
163
103
241
137
88
226
152
105
221
181
138
252
563
157
339
428
15
921
159
336
452
21
882
161
140
501
18
730
163
160
541
27
558
135
477
840
58
108
33
83
225
38
128
34
123
226
125
34
152
196
34
118
204
15
155
35
84
237
12
4,331
2,682
193
7
5,023
2,523
237
4,520
2,920
179
3,067
6,854
76
935
1,817
7
1,086
1,652
5
-8
1,779
8
1,054
1,605
56
g
6,789
2,713
203
1
-31,228
-32,530
-32,665
-37,148
-38,507
-9,067
-9,707
-9,378
-18,518
-1,945
-19,684
-1,997
-18,819
-2,272
-20,059
-2,230
-15,082
-885
-3,443
-235
-3,857
-244
-1,615
-1,002
-1,076
-772
-833
-1,056
-563
-1,004
-1,031
-1,989
-1,495
-1,184
-1,425
-1,327
-923
-159
-299
-202
-77
-65
82
-606
-102
-86
-66
104
-581
-98
-96
-67
65
-624
-76
-112
-68
68
-693
-91
-99
-133
81
-1,527
-52
-720
-3,813
-1,770
-1,234
-4,410
-1,817
-2,025
-4,306
-1,848
-2,094
-5,215
-1,986
II
I
III
IV
II"
I'
1
I
r
15
7
g
1
1
(*)
(*)
(*)
(*)
(*)
2
(*)
-34
65
76
283
71
79
85
47
73
86
170
29
43
57
41
53
85
31
-95
-156
251
-74
-153
193
-7
-156
228
-39
-165
280
-87
370
-22
93
-21
101
-22
69
-23
96
-24
110
-24
-362
556
-4
-87
120
-3
-92
138
-8
-93
158
-9
-90
140
-3
-91
147
-4
-97
185
32
33
34
-17,980
-7,464
-1,540
-19,052
-20,793
-1,535
-8,822
-22
107
-12,283
1,847
281
-9,983
-25,936
-3,281
-7,381
-5,808
-9,465
-1,230
-8,116
35
-204
-102
-140
759
-2
-1
-1
-1
-1
-1
-1
-2,514
-550
-1,660
-204
-101
-139
760
-204
-102
-140
759
-2
-1
-1
-1
-1
-1
-1
-2,514
-550
-1,660
-204
-101
-139
760
36
37
38
39
40
-10
-248
244
-7
-17,765
-3,593
-4,576
38
-9,634
248
-174
396
25
22
-154
179
-3
40
196
59
6
20
111
17
201
199
-3
68
85
50
-4
69
63
-3
11
-5
14
5
114
-4
13
4
204
-2
156
44
23
-26
18
50
101
-16
13
36
14
-18
-7,609
-1,664
-3,176
1,436
-4,205
-1,423
-5,706
-2,610
-1,435
8,328
202
330
-7
48
-19,851 -20,986
-1,628 -1,909
-4,316 -14,056
n.a. -1,527
-13,908 -3,494
-1,593
-2,034
-5,728
-482
6,650
-8,828
-1,318
-2,178
-2,368
-2,964
-12,302
168
-4,105
119
-8,483
1,737
1,275
-2,045
1,204
1,303
265
-1,705
-2,429
-1,312
5,711
-10,184 -23,621
-795 -11,224
-4,182 -4,094
n.a.
250
-5,207 -8,553
-2,729
-2,321
-1,520
83
1,029
-5,789
-2,564
-1,229
4
-2,000
-5,690
-3,606
-541
-97
-1,446
-9,413
-2,734
-803
260
-6,136
-1,087
-3,623
-181
-91
2,808
12
58
-8,945
-796
292
n.a.
-8,441
45
46
47
48
49
27,549
28,398
27,195
38,215
63,468
16,056
17,460
17,552
12,400
15,822
20,645
33,257
-321
8,584
10,332
14,661
11,039
15,841
50
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
115
311
-139
-98
136
45
158
-132
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
-131
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
51
52
53
54
55
56
57
16
ooo
(16)
(16)
(16)
(16)
(16)
(16)
4,528
10,285
5,122
4,800
7,810
-103
(16)
(16)
(16)
(16)
(16)
(16)
9,750
419
12,737
16
7,602
815
9,386
16
9,711
63
12,438
16
8,546
n.a.
24,968
16
38,642
631
16,249
10,698
-346
5,763
16
41
36
14
(16)
(16)
(16)
(16)
(16)
(16)
5
25
137
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
679
3,037
4,197
2,186
2,408
9,536
(16)
(16)
(16)
(16)
11,741
-42
5,067
(16)
16
16
9,113
273
5,093
(16)
7,090
746
326
16
16
7,882
178
5,571
16
7,338
n.a.
10,875
16
3,485
-176
20,275
-47
7
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
178
2,104
1,392
5,863
3,089
2,249
(16)
(16)
(16)
(16)
(16)
(16)
6
18
(16)
(16)
(16)
(16)
30
999
-98
-1,407
16
1,291
-341
5,578
16
670
130
8,122
16
525
133
7,982
16
1,846
-218
6,452
16
1,146
n.a.
12,578
41
42
43
44
58
59
60
61
62
63
64
-1,464
-14,523
-21,870
-8,906
-29,913
-12,189
-5,672
-1,389
-10,663
-13,603
-6,737
6,549
5,963
3,601
-731
-2,284
-7,889
-1,039
65
-6,725
-8,106
-8,011
-8,106
-5,415
-6,378
-6,338
-6,412
-3,959
-3,851
-3,779
-3,785
-5,324
-10,334
-10,219
-10,258
-3,990
-13,046
-12,763
-12,763
-605
-2,404
-2,333
-2,333
-1,036
-3,045
-2,966
-2,966
-1,107
-3,966
-3,881
-3,881
-1,242
-3,632
-3,584
-3,584
-742
-2,573
-2,500
-2,500
-607
-4,012
-3,926
-3,926
-17,187
-14,040
-13,846
-13,870
-3,184
-2,390
-2,357
-2,361
-4,853
-4,847
-4,801
-4,805
-5,214
-3,850
-3,785
-3,793
-3,936
-2,953
-2,903
-2,912
-3,252
-1,972
-1,917
-1,920
-4,759
-6,772
-6,683
-6,687
66
67
68
69
SURVEY OF CURRENT BUSINESS
52
September 1987
Table 10.—U.S. International
[Millions
Eastern Europe
(Credits + ; debits - )
Canada
1986
1987
1986
1986
1986
III
Exports of goods and services
2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts.
IV
I
II
2,873
642
812
491
446
805
75,173
18,124
20,643
2,025
525
273
389
339
691
56,984
100
13,653
24
15,657
28
3,185
928
864
83
22
22
22
22
24
209
216
509
113
905
1,051
32
107
28
199
262
2
130
28
246
264
4
5,180
6,171
48
1,130
1,564
19
1,631
1,568
7
Travel
Passenger fares
Other transportation
Royalties and license fees from affiliated foreigners 4
Royalties and license fees from unaffiliated foreigners.
Other private services from affiliated foreigners.
Other private services from unaffiliated foreigners.
U.S. Government miscellaneous services
31
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
142
508
36
-2,353
-526
-680
-1,980
-3
-455
-1
-591
-85
-4
U.S. Government receipts
34
455
Transfers of goods and services under U.S. military grant programs, net...
Imports of goods and services
Merchandise, adjusted, excluding military
Direct defense expenditures
Travel
Passenger fares
Other transportation
3
Royalties and license fees to affiliated foreigners 4
Royalties and license fees to unaffiliated foreigners
Other private services to affiliated foreigners
Other private services to unaffiliated foreigners
U.S. Government miscellaneous services..
"-186
-478
-1
-19
-54
T42
'-50
C)
-77,544
-19,079
-20,027
-426
-2
-492
-2
-70,315
-215
-17,567
-58
-18,065
-50
-4
-26
-3,242
-325
-798
-51
"-36
-547
-130
-146
-6
-11
42
-566
-97
-2
-3
-29
-142
-53
-1,934
-600
-169
-523
-123
-237
-473
-149
25
-71
14
-72
-2
-9,278
-4,372
-1,271
72
-7
68
11
13
6
4
-7
14
—4
C)
-26
-42
-6
-9
-2
-7
-1
Unilateral transfers (excluding military grants of goods and services), net..
-161
-34
-40
U.S. Government grants (excluding military grants of goods and services).
U.S. Government pensions and other transfers
Private remittances and other transfers
-20
-19
-122
-2
-6
-27
-9
-5
-27
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
-585
-456
-1
C)
C)
-7
-11
-7
-9
-10
(*)
-6
-1
-7
-1
-43
-43
-7
-5
-31
-9
-5
-29
52
-143
-12
U.S. military grants of goods and services, net
U.S. assets abroad, net (increase/capital outflow ( — ))
-43
-263
-4
-6
-577
U.S. official reserve assets, n e t 5
Gold
Special drawing rights
Reserve position in t h e International Monetary Fund
Foreign currencies
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets 6
U.S. foreign currency holdings and U.S. short-term assets, net
U.S. private assets, net
Direct investment
Foreign securities
U.S.
on unaffiliated
foreigners reported by U.S. no
U S claims
li
ffili
U.S. claims reported by U.S. banks, not included elsewher
-314
-1,769
610
845
-263
(*)
-143
-120
75
29
-5
16
-2
-406
-313
-20
-386
-3
-25
-285
-1,755
520
852
42
-5
443
-61
-350
-14
457
-18
74
-117
6
n.a.
-356
-9,351
-2,664
-849
-719
-5,118
-4,391
-607
-1,022
-796
-1,966
-1,275
-653
-180
-311
-131
-43
11,963
6,431
1,813
787
159
111
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
Foreign assets in the United States, net (increase/capital inflow ( + ))
oreign official
U.S. Government securities7
U.S. Treasury securities
Other 8
Other U.S. Government liabilities 9
U.S. liabilities reported by U.S. banks, not included elsewhereOther foreign official assets 10
Other foreign assets in t h e United States, net
Direct investment
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...
U.S. liabilities reported by U.S. banks, not included elsewhere
(16)
(16)
C)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(*)
(16)
(16)
(16)
(16)
(16)
(16)
4
-4
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
2
C)
(16)
(16)
-2
98
(16)
(16)
(15)
(15)
(16)
(16)
11,177
1,022
(16)
(16)
(15)
(16)
(16)
(16)
..........
-2
3
106
-15
10
16
6
-2
1
204
21
5
27
-65
5
-21
-43
16
-82
16
-2
n.a.
-39
1,230
-452
(15)
28
28
(15)
(15)
(15)
(15)
6,271
769
(15)
-116
-104
(15)
1,702
640
(15)
379
-536
(15)
Allocations of special drawing rights
65 Statistical discrepancy, and transfers of funds between foreign areas, net (sum of
above items with sign reversed).
Memoranda:
Balance on merchandise trade (lines 2 and 17)....
Balance on goods and services (lines 1 and 16) X 1
Balance on goods, services, and remittances (lines 67, 33, and 34)..
ll
69 Balance on current account (lines 67 and 3 1 )
See footnotes on page 49.
45
519
379
359
383
401
369
367
157
-180
114
-66
-205
205
165
162
-67
-49
-85
-92
-70
-79
-87
-47
-89
199
220
186
182
-52
-1,047
-1,083
-13,331
-2,371
-2,634
-2,634
-3,914
-955
-1,012
-1,012
-2,408
615
542
542
SURVEY OF CURRENT BUSINESS
September 1987
53
Transactions, by Area—Continued
of dollars]
Japan
Latin American Republics and Other WesterrI Hemisphere
Canada
1986
1987
1986
1987
1986
1986
II"
9,658
9,606
10,583
1
6,505
29
5,811
206
6,467
79
2
3
515
210
642
326
202
627
542
259
605
487
373
673
4
5
6
188
172
-112
113
2
180
177
-46
135
3
220
183
-81
142
3
179
188
-102
180
1
282
191
-70
186
6
7
8
9
10
11
967
850
97
942
894
75
920
796
81
429
981
92
689
992
57
707
1,155
47
12
13
14
-96,422
-21,248
-24,446
-25,195
-25,533
-23,928
-26,075
16
-11,726
-79
-80,764
-1,998
-17,842
-434
-20,523
-523
-21,116
-465
-21,283
-576
-19,574
-467
17
18
-2,028
-179
-462
-1,658
-258
-519
-738
-334
-3,242
-115
-73
-758
-268
-115
-778
-205
-96
-858
-150
-50
-849
-150
-77
-840
-21,109
-485
-350
-127
-922
19
20
21
-523
-72
-5
-4
1
-554
-63
-4
-4
-11
-561
-69
-4
-4
-1
-597
-58
-110
-95
437
-610
-59
-24
-23
102
-107
-21
-25
-24
86
-153
-12
-29
-24
107
-180
-14
-32
-24
142
-170
-12
-27
-25
71
-173
-14
-33
-25
9
-257
-17
22
23
24
25
26
146
-2,946
-309
1,253
-2,988
-295
129
-3,027
-240
-2
-3,345
-236
-1,122
-2,436
-5,350
-148
-550
-1,255
-288
-571
-1,252
-330
-614
-1,372
-356
-701
-1,471
-384
-843
-1,426
-257
-969
-1,534
27
28
29
-63
-21
-22
4
-25
-8
-19
-433
-103
-231
-4
-60
-8
-13
-8
-14
20
-16
-8
-17
3
-11
-4,292
-26,188
-4,833
-5,277
-1,105
-14,973
4,854
-5
-14
459
-313
-83
-72
-69
-89
1,003
2,595
III
IV
Ir
II"
14,802
15,564
15,252
15,550
14,472
16,062
7,055
68
7,961
91
7,878
94
7,983
41
7,544
60
8,439
106
3,712
632
1,998
818
132
433
871
148
494
966
218
539
1,057
134
532
854
159
483
122
30
234
293
9
180
149
198
1,825
89
32
37
66
473
29
33
37
51
454
21
36
37
35
440
21
79
37
46
459
17
2,063
1,541
20
1,236
1,539
3
2,920
17,697
599
721
4,808
132
708
4,547
146
569
4,201
218
922
4,140
103
26
4
3
7
12
7
6
-19,166
-20,196
-20,592
-64,901
-17,353
-16,427
-15,732
-15,389
-17,458
-16,622
-63
-18,061
-45
-18,053
-52
-18,484
-50
-41,426
-350
-10,783
-88
-10,318
-88
-9,765
-99
-1,642
-477
-354
-792
-128
-143
-128
-144
-6,363
-702
-1,657
-1,762
-161
-397
-1,511
-226
-403
-1,518
-216
-429
-10,560
-75
-1,572
-99
-429
-2
-3
-38
-140
-68
1
-3
57
-140
-8
-3
-3
-115
-154
-17
_2
-3
-68
-158
-23
-19
-17
3
-2,169
-278
-5
-4
-6
-542
-61
-4
-4
53
-451
-169
300
-487
-159
-649
-480
-189
-148
-516
-206
1,296
-12,000
-1,219
-79
-2,874
-310
-26
-4
-3
-7
-12
-7
-6
1
-64
-69
-59
-60
-2,713
-686
-760
-767
-501
-599
-767
-74"
15
-78
19
-1,400
-424
-889
-394
-94
-198
-397
-115
-248
-445
-106
-217
-165
-109
-227
-277
-106
-217
-1,370
-899
-14,636
894
-5,935
-7,758
-1,837
6,964
-75
-212
89
-27
IV
Ir
II"
17,585
18,823
20,200
20,889
61,168
13,318
28
790
14,356
20
16,141
43
30,877
294
603
14,525
27
1,129
998
221
249
224
243
129
29
204
263
23
143
29
256
263
4
122
29
217
296
6
1,044
1,520
16
1,376
1,519
6
-19,272
-72
9
157
-73
4
-3,793
I
-5
-4
(*)
-550
-83
-24
-3,192
-305
198
40,203
8,933
11,360
10,252
26,361
164
5,424
66
7,830
31
6,602
38
986
180
530
1,614
895
2,396
402
194
561
371
289
567
33
37
61
475
25
42
37
62
502
22
721
697
-283
497
17
133
166
-44
107
10
697
3,900
145
987
4,032
137
3,258
3,521
345
-18,486
-10,916
-86
15
1
30
-75
-212
89
-27
-313"
-83
-72
-69
-89
1,003
2,595
-312
-734
334
89
-258
-423
219
-54
-216
-217
176
-175
-264
-772
386
122
84
87"
-3
35
33"
3
15
13"
1
30
4
45
-1
-904 -13,664
-7,450
-933
3,309
-1,003
n.a. -1,485
1,032 -8,037
982
-3,011
444
-2,072
5,621
-5,744
-2,801
1,341
804
-5,089
-7,234
-2,163
784
-101
-5,754
-1,668
524
739
-116
-2,815
7,207
-1,736
84
-139
8,998
-4,028
-1,561
637
n.a.
-3,104
-25,960
-1,884
8,386
-384
-32,077
-4,786
-485
718
340
-5,358
-5,220
-743
60
-193
-4,344
-1,066
-111
2,441
169
-3,565
-7
-14,888
-546
5,168
-700
-18,810
34
28"
6
-3,813
26,275
-2,237
1,912
17,174
9,426
-10,785
871
52,079
10,616
8,432
22,978
-1,576
16)
16)
16)
16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
6
)
6
)
6
)
6
6J)
6)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
53
-85
69
-92
51
(16)
(16)
-3
6
)
6
)
-106
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
5
13
3
28
6
7
-2
141
-1,058
625
650
-76
-3,826
-347
-272
-262
-2,945
95
-7
-1,458
-1,341
-1,150
244
789
1,001
2,719
3,447
109
408
3,134
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
(15)
12
30
6
)
6
)
6
)
6
[
)
-6
6
)
6
)
- 49
34
16)
16)
(15)
(15)
(15)
(15)
892
-423
2,311
35
313
667
-2,238
-31
(15)
(15)
(15)
(15)
(16)
734
-50
253
n.a.
4,360
-1,758
26,173
393
291
III
-116
-523
406
1
88
574
-103
II
-88
-404
283
32
-198
33
27
IV
I
-774
-2,084
1,242
68
16
(15)
(15)
Line
Ir
II
III
1987
1986
(15)
(15)
(16)
(16)
-726
-2,451
(15) 16
(16)
(16)
16
516
-688
-1,334
1,887
-206
562
16
16
8,262
7,102
50
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
129
-20
-240
40
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
1,094
-174
4,098
-141
503
1,161
2,575
1,518
1,490
(16)
(16)
(16)
(16)
(16)
(16)
987
-237
10,463
16
1,250
747
-13,872
16
983
n.a.
167
16
13,039
402
34,472
16
2,858
264
7,726
16
2,413
50
5,415
16
41
42
43
44
10,054
(16)
16
36
37
38
39
40
45
46
47
48
49
-1,775
970
-627
16,482
35
3,818
-355
-490
-3
4,666
434
(16)
32
33
34
45"
C)
-2,181
-748
3,961
n.a.
-5,394
(16)
(16)
-384
(16)
)
)
- 12
6
)
6
)
ib"
31
4,770
180
16,738
16
2,998
-92
4,593
(16)
16
4,996
513
1,475
(16)
16
4,031
n.a.
1,541
51
52
53
54
55
56
57
58
59
60
61
62
63
(15)
(15)
(15)
593
1,486
-2,022
4,474
-5,193
4,580
5,646
-8,170
-7,249
7,406
6,613
30,391
6,554
9,952
-6,934
20,818
1,213
7,951
65
-3,304
-1,688
-1,751
-1,751
-3,705
-343
-412
-412
-3,528
3
-55
-55
-2,343
298
238
238
-10,549
-3,733
-5,046
-6,446
-3,728
-2,551
-2,843
-3,237
-2,357
-863
-1,226
-1,623
-1,887
-480
-802
-1,247
-2,577
161
-175
-340
-3,372
-2,986
-3,308
-3,585
-3,287
-2,424
-2,758
-3,191
-54,403
-56,219
-56,282
-56,282
-12,418
-12,316
-12,336
-12,336
-12,693
-13,086
-13,108
-13,108
-14,514
-14,943
-14,939
-14,939
-14,778
-15,874
-15,899
-15,899
-13,763
-14,322
-14,330
-14,330
-14,642
-15,492
-15,511
-15,511
66
67
68
69
64
SURVEY OF CURRENT BUSINESS
54
September 1987
Table 10.—U.S. International
[Millions
Australia, New Zealand, and South Africa
Line
(Credits + ; debits - )
l
1987
1986
1986
III
Exports of goods and services
2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contracts
IV
II"
10,923
2,922
2,360
2,612
3,029
2,782
3,101
7,116
405
1,868
79
1,574
71
1,764
129
1,910
126
1,624
226
1,912
120
179
51
74
92
87
157
84
96
83
27
45
89
3
59
27
33
87
2
Travel
Passenger fares
Other transportation
493
250
350
153
65
84
Royalties and license fees from affiliated foreigners 4
Royalties and license fees from unaffiliated foreigners
Other private services from affiliated foreigners
Other private services from unaffiliated foreigners
U.S. Government miscellaneous services
279
104
206
338
12
63
26
53
82
(*)
Receipts of income on U.S. assets abroad:
Direct investment
Other private receipts
U.S. Government receipts
632
716
191
5
331
159
5
323
182
3
364
156
5
-1,827
-1,962
-2,340
-1,826
-1,949
-1,380
-10
-1,477
-10
-1,697
-10
-1,277
-9
-1,359
-10
-184
-101
-99
-175
-83
-87
-134
-139
-97
-229
-141
-105
-224
-118
-100
-220
-102
-112
-1
-2
1
5
-25
()
-2
(*)
3
-18
-1
-2
C)
2
-12
-1
-2
-2
1
-13
-1
-2
-2
2
-19
-1
-2
-2
1
-11
-44
-36
-62
17
-33
-60
-5
-38
-23
-21
-1
-5
-17
-2
-5
-14
-1
-6
-18
-1,087
-528
-261
183
5
1
182
7
-8,017
-1,888
-5,945
-44
-1,391
-14
-722
-464
-389
-3
-9
-1
11
Transfers of goods and services under U.S. military grant programs, net..
Imports of goods and services
Merchandise, adjusted, excluding military
Direct defense expenditures
3
Travel
Passenger fares
Other transportation
Royalties and license fees to affiliated foreigners 4 ....
Royalties and license fees to unaffiliated foreigners..
Other private services to affiliated foreigners
Other private services to unaffiliated foreigners
U.S. Government miscellaneous services
Payments of income on foreign assets in the United States:
Direct investment
Other private payments
U.S. Government payments
11
-33
-53
-135
-210
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
-81
-23
-2
-21
-58
C)
-5
-17
-1
-5
-11
()
-5
-13
U.S. assets abroad, net (increase/capital outflow ( —)).
U.S. official reserve assets, net 5 ,
Gold
Special drawing rights.
Reserve position in the International Monetary Fund.
Foreign currencies
74
U.S. Government assets, other than official reserve assets, net
U.S. credits and other long-term assets
Repayments on U.S. credits and other long-term assets 6 .
U.S. foreign currency holdings and U.S. short-term assets, net.
U.S. private assets, net.
Direct investment
Foreign securities
U.S. claims on unaffiliated foreigners reported by U S nonbanking concerns
U.S. claims reported by U.S. banks, not included elsewhere.
Foreign assets in the United States, net (increase/capital inflow ( + ))
Foreign official assets in the United States, net
U.S. Government securities7
U.S. Treasury securities
Other8
Other U.S. Government liabilities 9
U.S. liabilities reported by U.S. banks, not included elsewhere..
Other foreign official assets 1 0
Other foreign assets in the United States, net
Direct investment
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
U.S. liabilities reported by U.S. banks, not included elsewhere
11
4
77
-2
12
-4
28
-25
-608
488
-1,742
68
578
-303
-26
-604
26
638
63
71
6
498
147
643
-167
-59
-269
-1,090
-191
-1,042
95
49
-542
61
-500
-128
25
5,109
1,936
470
-21
2,725
-1,571
-267
-354
-167
n.a.
254
2,039
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
12
-6
314
102
108
63
40
-79
55
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
1,615
779
113
243
481
-473
(16)
(16)
(16)
(16)
(16)
(16)
(16)
419
-108
73
-44
5
1,026
263
31
' -45
57
-38
-346
26
-57
16
2,234
280
20
-1,319
213
n.a.
1,729
-7,425
-2,657
-1,699
-765
-2,304
1,165
-2,905
1,171
2,906
2,826
2,825
477
1,033
1,011
1,010
194
533
517
517
287
650
631
631
213
347
956
936
935
553
1,152
1,128
1,127
16
42
6
Allocations of special drawing rights
Statistical discrepancy, and transfers of funds between foreign areas, net (sum of above items with sign
reversed).
Memoranda:
Balance on merchandise trade (lines 2 and 17)
67 Balance on goods and services (lines 1 and 1 6 ) l l
Balance on goods, services, and remittances (lines 67, 33, and 34)
Balance on-current account (lines 67 and 3 1 ) 1 J
See footnotes on page 49.
667
666
55
SURVEY OF CURRENT BUSINESS
September 1987
Transactions, by Area—Continued
of dollars]
International organizations and unallocatedx
Other countries in Asia and Africa
1987
1987
1986
1986
1986
II"
IV
3,924
63,380
16,188
15,419
15,534
16,238
16,795
40,334
5,727
985
307
3,529
9,976
1,125
10,034
1,251
10,044
1,380
10,280
1,971
10,391
2,022
10,866
2,387
246
82
856
332
112
899
148
61
892
78
145
46
81
149
391
48
84
142
399
97
265
56
871
28
82
105
408
47
262
89
945
156
316
611
1,575
312
259
52
882
29
74
175
387
60
37
83
112
407
53
2,920
3,641
2,966
1,354
1,034
782
584
962
654
407
835
799
575
811
731
937
862
722
1,177
1,006
29
2
652
18
96
51
995
1,117
Line
II"
IV
III
839
1,120
1,060
1
235
254
322
297
-13
1,470
3
-11
358
1
-14
354
1
10
358
1
2
400
1
-338
886
810
40
234
1
218
182
-167
223
227
-212
211
141
-2,992
-813
-762
296
6
440
-27
230
150
-73
228
193
10
11
12
13
14
15
-96,186
-22,428
-22,862
-26,073
-24,822
-25,448
-79,196
-1,692
-18,242
-449
-18,606
-437
-20,689
-21,401
-1,474
-529
-4,234
-311
-93
-946
-426
-127
-1,065
-21,659
-418
-388
-163
-1,138
-349
-146
-1,085
-334
-98
-1,046
-28,359
-24,114
-406
-452
-138
-1,152
-10
667
-653
-640
-1
-2
169
-156
-162
9
-3
169
-161
-156
(*)
-3
184
-166
-172
-1
-3
146
-170
-150
-3
122
-175
-151
-3
141
-180
-148
-131
-1
-31
-31
-33
-35
203
-3,592
-5,042
11
-929
-1,317
106
-915
-1,251
2
-891
-1,263
83
-858
-1,212
49
-880
-1,148
121
-901
-1,128
-245
-969
-341
-52
-303
-53
-214
-60
-111
16
17
18
-20
-341
-1,578
-18
-461
-12
-18
-413
-13
-427
19
20
21
-37
-37
-1
22
23
24
25
26
-59
-209
-77
-213
27
28
29
32
33
34
-21
-371
-51
-11
-5
-29
-2
-18
-10,834
-1,860
-2,747
-3,044
-2,020
-1,796
-965
-207
-271
-9,057
-468
-1,309
-1,467
-80
-312
-2,347
-80
-320
-2,789
-76
-318
-2,454
-231
-359
-1,592
-86
-342
-704
-248
-13
-185
-20
-1
-211
-48
-12
-112
-12
-197
-168
-171
-44
-113
-16
-12
-1,411
1,950
-834
-1,394
-84
-318
4,297
-239
475
132
1,163
-2,009
3,594
-1,848
1,254
70
262
671
252
682
"1246
1,501
163
508
-31
283
76
606
-ii'i
344
••'1764
366
-267
-267
-559
-559
C)
-122
-126
4
-157
-157
41
42
43
44
45
46
47
48
49
50
2,284
-364
165
-524
-3,052
2,502
26
-420
-1,043
606
17
249
-471
735
-15
-302
-836
512
22
-51
-702
648
3
136
-316
322
129
372
-567
966
-923
-927
4
-102
4
348
-783
3,267
34
-2,170
-991
-1,664
1,701
1
987
151
562
-532
237
1,277
-26
-2,020
170
643
616
-159
-930
2,148
-871
2,145
193
681
3,926
-167
1,110
n.a.
2,983
-570
698
686
-4
-1,950
503
75
-156
-3
587
137
9
222
2
-96
1,051
396
222
-2,261
219
3,034
186
399
434
-2,875
2,449
-1,856
-13
-251
n.a.
-1,592
13,968
4,500
3,457
4,917
1,094
-2,871
-2,733
-2,311
2,507
-1,741
-4,514
1,437
611
-1,487
H
(*)
C)
(16)
(16)
(16)
(16)
521
16)
V
V
V
265
6
)
6
)
8715
)
;
)
(16)
(16)
(16)
(16)
267
166
-66
(16)
(16)
2,680
-1,296
11,796
662
-1,010
6
4,417
29,848
5,010
4,783
-38,862
-32,806
-34,583
-43,640
-8,266
-6,240
-8,572
-7,443
-7,843
-10,190
(16)
18
(16)
(16)
(16)
(16)
732
-348
2,864
)
6
)
- 9 162
)
6
)
-1,501
(16)
-52
(16)
(16)
-2,311
2,507
-1,741
-4,514
1,437
611
-1,435
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
(16)
324
-158
-141
62
(16)
(16)
(16)
(16)
512
426
1,203
320
245
-2,383
9,640
10,415
11,260
10,516
2,584
-3,080
1,647
3,281
736
-11,615
-10,539
-10,934
-13,722
-10,409
-8,584
-9,174
-11,628
-11,010
-8,653
-9,081
-10,673
-13,248
-10,284
-10,686
-12,080
932
671
-34
283
233
173
-38
194
182
70
201
33
-164
(16)
6
6
(*)
6
774
-364
3,312
6
16
816
n.a.
-2,110
5
348
102
-2,761
6
176
15
2,316
16
710
-3
-2,448
16
-396
27
-4,145
6
-142
63
1,516
16
-15
21
605
16
131
n.a.
-1,566
36
37
38
39
40
51
52
53
54
55
56
57
58
59
60
61
62
6
63
64
-8,100
363
319
148
3,123
65
1
352
325
212
66
67
68
69
SURVEY OF CURRENT BUSINESS
56
September 1987
Summary National Income and Product Series:
Annually, 1929-86, and Quarterly, 1960-86
Table 1.—Gross National Product
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
P ersonal consumption
expenditures
Year and
quarter
GNP
Total
Durable
goods
Nondurable
goods
Net exports
Gross private domestic investment
Services
Total
Nonresidential
Residential
CBI
Net
Exports
Government purchases
of goods and services
Imports
Total
Federal
State
and
local
Final
sales
Gross
domestic
purchases
Percent change from
preceding period
GNP
Final
sales
Gross
domestic
purchases
1929
103.9
77.3
9.2
37.7
30.4
16.7
11.0
4.0
1.7
1.1
7.1
5.9
8.9
1.5
7.4
102.2
102.8
1930
1931
1932
1933
1934
91.1
76.4
58.5
56.0
65.6
69.9
60.5
48.6
45.8
51.4
7.2
5.5
3.6
3.5
4.2
34.0
29.0
22.7
22.3
26.7
28.8
26.1
22.2
20.1
20.4
10.6
5.9
1.1
1.6
3.5
-12.3
-16.2
-23.4
-4.2
17.0
-10.5
-15.2
-21.4
-5.5
15.1
-12.3
-15.8
-23.4
-4.2
16.7
21.3
22.8
24.5
24.4
25.2
10.2
12.2
12.1
13.2
13.6
3.1
5.1
4.8
5.5
5.2
7.2
7.1
7.3
7.7
8.3
71.7
81.8
88.7
86.3
90.9
72.7
83.0
90.8
84.0
90.1
11.0
14.1
9.8
-6.5
7.0
8.2
14.1
8.4
-2.7
5.4
11.9
14.2
9.5
-7.5
7.3
1940
1941
1942
1943
1944
100.4
125.5
159.0
192.7
211.4
71.0
80.8
88.6
99.5
108.2
7.8
9.7
6.9
6.5
6.7
37.0
42.9
50.8
58.6
64.3
26.2
28.3
31.0
34.3
37.2
6.6
8.7
12.1
6.7
9.5
13.4
18.3
10.3
6.2
7.7
14.2
25.0
59.9
88.9
97.1
6.1
17.0
52.0
81.4
89.4
8.1
8.0
7.8
7.5
7.6
98.3
121.0
157.2
193.4
212.3
9S.7
124.1
158.8
194.6
213.0
10.0
25.0
26.6
21.2
9.7
8.1
23.2
29.9
23.0
9.8
9.5
25.7
28.0
22.6
9.5
1945
1946
1947
1948
1949
213.4
212.4
235.2
261.6
260.4
119.6
143.9
161.9
174.9
178.3
8.0
15.8
20.4
22.9
25.0
71.9
82.7
90.9
96.6
94.9
39.7
45.4
50.6
55.5
58.4
11.3
31.5
35.0
47.1
36.5
1.8
1.5
.2
-1.9
-1.7
- 5
7.8
11.9
7.0
6.5
4.5
3.2
2.1
2.1
2.4
3.2
3.5
4.3
3.1
3.4
3.7
4.7
4.8
6.5
7.2
90.1
75.9
58.1
55.7
65.0
29.3
32.9
35.2
34.0
35.1
5.5
3.7
2.5
2.4
3.0
3.3
3.6
4.7
4.4
4.6
5.4
6.1
5.0
4.6
5.5
7.4
15.2
20.3
17.5
16.4
91.5
77.5
61.0
57.6
66.3
5.1
6.3
6.9
5.7
6.7
1.0
.5
.4
.4
.6
.1
.1
.4
1.3
1.2
7.9
7.8
6.7
6.1
6.9
55.8
62.0
66.7
64.1
67.0
7.9
7.3
8.3
10.6
9.8
83.0
29.1
26.4
32.6
39.0
74.8
19.2
13.6
17.3
21.1
8.2
9.9
12.8
15.3
18.0
214.4
206.0
235.7
256.9
263.4
213.9
204.5
223.3
254.7
253.8
.9
-.5
10.8
11.2
-.5
1.0
-3.9
14.4
9.0
2.5
.4
-4.4
9.2
14.0
-.3
1950
1951
1952
1953
1954
288.3
333.4
351.6
371.6
372.5
192.1
208.1
219.1
232.6
239.8
30.8
29.9
29.3
32.7
32.1
98.2
109.2
114.7
117.8
119.7
63.2
69.0
75.1
82.1
88.0
55.1
60.5
53.5
54.9
54.1
19.8
21.8
23.1
24.8
27.7
281.4
323.2
348.6
371.1
374.1
286.0
329.0
348.4
370.3
370.0
10.7
15.7
5.5
5.7
.2
6.8
14.8
7.9
6.5
.8
12.7
15.0
5.9
6.3
-.1
38.9
38.2
39.7
37.2
42.8
124.7
130.8
137.1
141.7
148.5
94.3
101.6
108.5
115.7
125.0
69.7
72.7
71.1
63.6
80.2
14.5
19.8
19.2
18.1
18.8
21.1
25.2
28.2
24.4
25.0
19.1
38.6
52.7
57.9
48.4
257.9
270.6
285.3
294.6
316.3
2.2
4.5
3.2
1.3
2.6
3.0
5.3
7.3
3.3
1.5
38.8
60.4
75.8
82.8
76.0
405.9
428.2
451.0
456.8
495.8
20.5
18.4
18.6
19.4
21.1
25.0
23.5
22.2
22.7
28.1
12.3
15.3
16.0
16.8
16.3
1955
1956
1957
1958
1959
27.8
31.8
31.9
35.1
34.7
39.0
44.5
47.5
42.4
46.3
18.1
19.9
20.9
21.1
23.5
75.3
79.7
87.3
95.4
97.9
44.9
46.4
50.5
54.5
54.6
30.3
33.3
36.9
40.8
43.3
400.2
423.6
449.6
458.3
490.0
402.9
422.9
443.7
453.5
494.3
9.0
5.5
5.3
1.3
8.5
7.0
5.8
6.1
1.9
6.9
8.9
5.0
4.9
2.2
9.0
1960
1961
1962
1963
1964
515.3
533.8
574.6
606.9
649.8
330.7
341.1
361.9
381.7
409.3
43.5
41.9
47.0
51.8
56.8
153.2
157.4
163.8
169.4
179.7
134.0
141.8
151.1
160.6
172.8
78.2
77.1
87.6
93.1
99.6
48.8
48.3
52.5
55.2
61.4
26.3
26.4
29.0
32.1
32.8
-.4
-1.1
-2.5
-1.6
-.7
1.1
1.3
2.5
— 9
.4
2.2
4.5
1.8
-.6
-1.0
-1.0
6.4
-.5
4.7
-3.1
6.8
10.2
3.1
.4
-1.6
5.7
4.6
1.4
-1.5
5.8
3.1
2.4
6.1
5.8
5.4
1.6
1.7
1.6
2.2
3.2
72.8
83.1
91.3
85.4
91.3
2.4
1.8
.8
.6
.9
1.3
1.7
2.1
2.1
3.0
3.5
4.1
2.2
1.4
1.4
1.7
7.8
12.1
15.6
14.6
9.5
9.5
8.4
8.3
10.1
1935
1936
1937
1938
1939
8.6
5.3
2.9
2.5
3.3
4.3
5.8
7.5
5.5
6.1
7.7
9.7
6.3
5.4
7.4
10.6
17.3
23.5
26.8
24.9
5.9
7.2
6.9
8.2
10.9
29.9
31.1
33.1
35.7
40.5
24.0
23.9
26.2
27.5
29.6
100.6
108.4
118.2
123.8
130.0
54.4
58.2
64.6
65.7
66.4
46.1
50.2
53.5
58.1
63.5
512.3
531.4
568.5
601.1
644.4
509.4
526.6
567.7
598.7
638.9
3.9
3.6
7.6
5.6
7.1
4.6
3.7
7.0
5.7
7.2
3.1
3.4
7.8
5.5
6.7
1965
1966
1967
1968
1969
705.1
772.0
816.4
892.7
963.9
440.7
477.3
503.6
552.5
597.9
63.5
68.5
70.6
81.0
86.2
191.9
208.5
216.9
235.0
252.2
185.4
200.3
216.0
236.4
259.4
116.2
128.6
125.7
137.0
153.2
73.1
83.5
84.4
91.4
102.3
33.1
30.9
31.1
37.7
41.2
9.9
14.2
10.3
7.9
9.8
9.7
7.5
7.4
5.5
5.6
42.9
46.6
49.5
54.8
60.4
33.2
39.1
42.1
49.3
54.7
138.6
158.6
179.7
197.7
207.3
68.7
80.4
92.7
100.1
100.0
69.9
78.2
87.0
97.6
107.2
695.2
757.8
806.1
884.8
954.1
695.4
764.5
809.0
887.2
958.3
8.5
9.5
5.8
9.3
8.0
7.9
9.0
6.4
9.8
7.8
8.8
9.9
5.8
9.7
8.0
1970
1971
1972
1973
1974
1,015.5
1,102.7
1,212.8
1,359.3
1,472.8
640.0
691.6
757.6
837.2
916.5
85.7
97.6
111.2
124.7
123.8
270.3
283.3
305.1
339.6
380.9
284.0
310.7
341.3
373.0
411.9
148.8
172.5
202.0
238.8
240.8
105.2
109.6
123.0
145.9
160.6
40.5
55.1
68.6
73.3
64.8
8.5
6.3
3.2
16.8
16.3
68.9
72.4
81.4
114.1
151.5
60.5
66.1
78.2
97.3
135.2
218.2
232.4
250.0
266.5
299.1
98.8
99.8
105.8
106.4
116.2
119.4
132.5
144.2
160.1
182.9
1,012.3
1,094.9
1,202.3
1,339.7
1,457.4
1,007.0
1,096.4
1,209.6
1,342.5
1,456.5
5.4
8.6
10.0
12.1
8.3
6.1
8.2
9.8
11.4
8.8
5.1
8.9
10.3
11.0
8.5
1975
1976
1977
1978
1979
1,598.4
1,782.8
1,990.5
2,249.7
2,508.2
1,012.8
1,129.3
1,257.2
1,403.5
1,566.8
135.4
161.5
184.5
205.6
219.0
416.2
452.0
490.4
541.8
613.2
461.2
515.9
582.3
656.1
734.6
219.6
277.7
344.1
416.8
454.8
162.9
180.0
214.2
259.0
302.8
62.3
81.7
108.6
129.2
139.1
3.1
7.8
10.5
19.6
15.4
— 5.6
16.0
21.3
28.6
13.0
31.1
18.8
1.9
4.1
18.8
161.3
177.7
191.6
227.5
291.2
130.3
158.9
189.7
223.4
272.5
335.0
356.9
387.3
425.2
467.8
129.2
136.3
151.1
161.8
178.0
205.9
220.6
236.2
263.4
289.9
1,604.1
1,766.8
1,969.2
2,221.0
2,495.2
1,567.4
1,764.0
1,988.6
2,245.6
2,489.4
8.5
11.5
11.7
13.0
11.5
10.1
10.1
11.5
12.8
12.3
7.6
12.5
12.7
12.9
10.9
1980
1981
1982
1983
1984
2,732.0
3,052.6
3,166.0
3,405.7
3,772.2
1,732.6
1,915.1
2,050.7
2,234.5
2,430.5
219.3
239.9
252.7
289.1
335.5
681.4
740.6
771.0
816.7
867.3
831.9
934.7
1,027.0
1,128.7
1,227.6
437.0
515.5
447.3
502.3
664.8
322.8
369.2
366.7
356.9
416.0
122.5
122.3
105.1
152.5
181.1
32.1
33.9
26.3
-6.1
-58.9
351.0
382.8
361.9
352.5
383.5
318.9
348.9
335.6
358.7
442.4
530.3
588.1
641.7
675.0
735.9
208.1
242.2
272.7
283.5
310.5
322.2
345.9
369.0
391.5
425.3
2,740.3
3,028.6
3,190.5
3,412.8
3,704.5
2,699.8
3,018.7
3,139.7
3,411.8
3,831.1
8.9
11.7
3.7
7.6
10.8
9.8
10.5
5.3
7.0
8.5
8.5
11.8
4.0
8.7
12.3
1985
1986
4,010.3
4,235.0
2,629.4
2,799.8
368.7
402.4
913.1
939.4
1,347.5
1,458.0
641.6
671.0
464.7
503.5
4,000.3
4,219.3
4,089.5
4,340.5
6.3
5.6
8.0
5.5
6.7
6.1
43.3
44.2
43.7
42.5
150.9
153.8
153.5
154.6
131.3
133.5
134.5
136.7
88.7
78.1
77.4
68.5
369.9
376.2
28.7
29.7
30.6
30.6
353.9
366.2
325.5
331.6
331.7
333.8
-79.2
-105.5
4.3
11.0
5.1
2.5
6.5
3.7
7.7
-4.9
818.6
869.7
516.1
514.5
517.7
513.0
189.0
218.3
28.4
26.1
25.3
25.3
449.2
481.7
1960 I
II
III
IV
442.6
436.9
49.4
49.6
48.4
48.1
24.4
24.6
24.0
22.9
97.6
99.6
102.1
103.0
53.0
53.8
55.3
55.6
44.5
45.8
46.8
47.4
505.0
512.0
514.0
517.9
511.8
509.4
511.2
505.3
11.4
-1.2
2.5
-3.6
7.4
5.7
1.6
3.1
9.6
-1.9
1.4
-4.5
1961 I
II
III
IV
517.4
527.9
538.5
551.5
334.4
339.1
341.9
349.1
40.0
41.0
42.3
44.3
156.0
156.8
157.3
159.5
138.4
141.2
142.3
145.3
69.5
74.7
81.2
83.0
47.1
48.0
48.3
49.9
25.3
25.5
26.9
27.8
-2.9
1.1
6.0
5.4
8.3
7.0
6.6
6.9
31.1
30.0
31.2
32.0
22.8
23.1
24.5
25.1
105.3
107.1
108.7
112.5
56.0
57.7
58.5
60.4
49.2
49.4
50.2
52.1
520.4
526.7
532.5
546.2
509.1
520.9
531.8
544.7
3.5
8.4
8.3
10.0
1.9
4.9
4.5
10.7
3.0
9.6
8.6
10.1
1962 I
II
III
IV
564.4
572.2
579.2
582.8
354.0
359.7
363.7
370.2
45.3
46.6
47.1
49.1
161.5
162.9
164.5
166.4
147.2
150.2
152.1
154.7
87.9
88.0
89.3
85.4
51.0
52.6
53.5
53.0
28.4
29.2
29.2
29.1
8.6
6.1
6.6
3.3
6.3
7.6
7.3
6.6
31.7
33.6
33.6
33.4
25.5
26.1
26.3
26.8
116.2
116.9
118.9
120.6
63.8
63.9
65.0
65.8
52.4
53.0
53.8
54.8
555.9
566.1
572.6
579.5
558.2
564.6
571.9
576.2
9.7
5.6
5.0
2.5
7.3
7.5
4.7
4.9
10.3
4.7
5.3
3.0
1963 I
II
III
IV
592.1
600.3
613.1
622.1
374.0
378.2
385.1
389.6
50.2
51.5
52.2
53.3
167.5
168.2
170.6
171.1
156.4
158.6
162.3
165.2
88.9
92.2
95.7
95.8
52.8
54.3
55.9
57.7
30.2
32.2
32.5
33.7
5.9
5.6
7.3
4.4
6.9
8.5
8.0
9.5
33.3
35.7
36.0
37.6
26.4
27.2
28.1
28.2
122.3
121.4
124.4
127.2
66.0
64.3
65.5
67.0
56.3
57.1
58.8
60.2
586.2
594.7
605.8
617.7
585.2
591.9
605.2
612.6
6.5
5.7
8.8
6.0
4.7
5.9
7.7
8.1
6.4
4.7
9.3
5.0
1964 I
II
III
IV
636.9
645.6
656.0
660.6
398.8
406.4
414.9
417.1
55.4
56.8
58.6
56.6
175.2
178.4
182.0
183.1
168.2
171.2
174.3
177.4
98.2
98.7
100.0
101.6
58.8
60.5
62.5
63.9
34.0
32.8
32.4
32.1
5.5
5.4
5.2
5.6
11.5
10.2
10.9
10.9
39.9
39.5
40.9
41.8
28.4
29.2
29.9
30.9
128.5
130.2
130.1
131.0
67.0
67.0
65.9
65.7
61.4
63.2
64.2
65.3
631.5
640.2
650.8
655.0
625.5
635.3
645.1
649.7
9.9
5.6
6.6
2.8
9.2
5.6
6.8
2.6
87
6.4
6.3
2.9
1965 I
II
III
IV
682.7
695.0
710.7
732.0
427.6
434.4
443.4
457.4
62.1
61.9
63.8
66.1
185.6
189.1
192.8
199.9
179.9
183.4
186.9
191.4
114.4
114.0
117.4
M8.8
68.6
71.5
74.4
78.0
33.3
33.4
33.0
32.7
12.5
9.1
10.0
8.0
9.0
10.8
9.5
9.5
39.1
44.2
43.3
45.2
30.1
33.4
33.8
35.7
131.8
135.8
140.3
146.3
65.2
67.1
69.0
73.3
66.6
68.7
71.4
73.0
670.2
685.9
700.7
723.9
673.8
684.2
701.2
722.5
14.1
7.4
9.3
12.5
9.6
9.7
8.9
13.9
15.7
6.3
10 3
12.7
1966 I
II
III
IV
754.8
764.6
777.7
790.9
467.7
472.7
481.7
486.9
69.2
66.5
69.1
69.3
204.1
207.6
210.7
211.4
194.5
198.5
202.0
206.2
128.2
129.1
127.6
129.6
81.2
83.4
84.5
85.0
33.2
31.9
30.7
27.9
13.8
13.9
12.4
16.7
8.7
7.6
6.4
7.3
45.6
45.8
46.6
48.4
36.9
38.2
40.2
41.0
150.2
155.2
162.0
167.1
75.1
78.3
83.1
85.1
75.1
76.9
78.9
82.0
741.0
750.7
765.2
774.2
746.1
757.0
771.3
783.6
13.1
5.3
7.0
7.0
9.8
5.3
8.0
4.8
13.7
6.0
7.8
6.5
-8.3
24.0
-24.5
-7.1
67.7
10.0
15.7
57
SURVEY OF CURRENT BUSINESS
September 1987
Table 1.—Gross National Product—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Gross private domestic investment
Personal consumption
Goven iment pu rchases
of goc)ds and s services
Net exports
expenditures
Year and
quarter
GNP
Total
Durable
goods
Nondur
able
goods
Serv-
Total
Nonresidential
Residential
CBI
Net
Exports
Imports
Total
Federal
ices
State
and
local
Final
sales
Gross
domestic
pur-
Percent change from
preceding period
Gross
domesFinal
GNP
tic
purchases
1967: I
II
III
IV
799.7
805.9
822.9
837.1
491.4
500.5
507.5
514.7
67.8
71.2
71.3
72.2
213.7
215.5
217.8
220.6
209.9
213.8
218.4
221.9
125.5
120.6
126.5
130.1
83.5
83.9
84.0
86.2
27.0
30.5
32.2
34.6
15.0
6.2
10.4
9.4
8.0
7.8
7.4
6.4
49.7
48.9
49.1
50.4
41.6
41.2
41.7
43.9
174.8
177.0
181.4
185.8
90.3
91.1
93.9
95.5
84.4
85.9
87.5
90.2
784.7
799.6
812.5
827.6
791.7
798.1
815.5
830.6
4.5
3.1
8.7
7.1
5.5
7.8
6.6
7.6
4.2
3.3
9.0
7.6
1968: I
II
III
IV
862.9
886.7
903.6
917.4
532.4
545.8
561.6
570.1
77.3
79.3
83.6
83.8
227.6
232.6
238.6
241.2
227.5
233.8
239.3
245.1
133.8
137.4
136.8
139.9
90.1
89.2
91.0
95.2
36.1
37.1
37.8
39.8
7.6
11.1
8.0
4.9
5.2
6.1
5.6
5.0
52.1
54.2
56.8
56.1
46.9
48.1
51.1
51.1
191.4
197.4
199.6
202.4
98.0
100.9
100.8
100.8
93.4
96.5
98.8
101.6
855.3
875.6
895.6
912.5
857.6
880.7
898.0
912.4
12.9
11.5
7.8
6.3
14.1
9.8
9.5
7.8
13.7
11.2
8.1
6.6
1969: I
II
III
IV
941.3
955.6
975.4
983.5
581.7
592.7
602.7
614.3
85.8
86.2
86.4
86.5
245.6
250.2
254.2
258.7
250.3
256.3
262.1
269.0
151.3
151.8
158.1
151.6
98.8
100.9
104.5
104.9
41.7
41.8
41.8
39.3
10.8
9.0
11.9
7.5
5.2
5.1
5.3
6.8
52.4
61.8
62.4
64.9
47.2
56.6
57.0
58.1
203.0
206.0
209.2
210.8
99.4
99.6
100.8
100.4
103.7
106.4
108.5
110.3
930.5
946.6
963.5
976.0
936.1
950.5
970.0
976.7
10.8
6.2
8.5
3.4
8.1
7.1
7.3
5.3
10.8
6.3
8.5
2.8
1970: I
II
III
IV
994.2
1,008.9
1,027.9
1,030.9
625.1
635.1
646.8
653.0
85.4
86.7
87.7
82.9
264.7
268.2
271.9
276.5
275.1
280.2
287.2
293.6
146.2
148.2
153.5
147.3
104.5
105.6
106.7
104.2
39.5
38.4
39.6
44.3
22
4.2
7.2
-1.2
8.1
9.8
8.4
7.5
66.7
69.9
69.4
69.6
58.6
60.1
61.0
62.2
214.7
215.7
219.1
223.1
100.8
98.6
97.3
98.3
113.9
117.1
121.8
124.8
992.0
1,004.6
1,020.7
1,032.1
986.0
999.0
1,019.5
1,023.5
4.4
6.0
7.7
1.2
6.7
5.2
6.6
4.5
3.9
5.4
8.5
1.6
1971: I
II
III
IV
1,075.2
1,094.3
1,113.9
1,127.3
671.7
685.2
696.8
712.4
93.4
96.2
98.5
102.2
278.3
282.0
284.4
288.4
300.0
307.0
313.9
321.7
166.6
173.4
177.0
172.9
106.4
109.1
110.2
112.5
47.9
54.0
58.0
60.7
12.3
10.3
8.8
— .c
9.4
5.7
6.1
4.0
71.8
72.6
75.3
69.7
62.4
67.0
69.3
65.7
227.5
230.0
234.0
238.0
99.2
98.5
100.4
101.3
128.3
131.5
133.6
136 7
1,062.9
1,084.0
1,105.1
1,127.6
1,065.8
1,088.6
1,107.8
1,123.3
18.3
7.3
7.4
4.9
12.5
8.2
8.0
8.4
17.6
8.8
7.2
5.7
1972: 1
II
III
IV
1,166.5
1,197.2
1,223.9
1,263.5
729.3
747.0
764.8
789.2
105.7
108.9
112.3
118.0
293.1
301.5
308.4
317.4
330.5
336.7
344.0
353.9
188.3
199.1
205.7
214.9
117.7
120.5
123.0
130.7
65.8
66.7
68.3
73.4
4.8
11.9
14.4
10.8
2.1
2.2
3.8
4.5
77.8
77.6
81.9
88.2
75.6
75.4
78.1
83.7
246.8
248.9
249.6
254.8
106.8
107.3
104.4
104.9
140.0
141.6
145.2
149.9
1,161.7
1,185.3
1,209.5
1,252.7
1,164.4
1,195.0
1,220.0
1,259.0
14.7
11.0
9.2
13.6
12.7
8.4
8.4
15.1
15.5
10.9
8.6
13.4
1973: I
II
III
IV
1,311.6
1,342.9
1,369.4
1,413.3
813.2
827.9
846.2
861.6
126.3
125.3
125.0
122.3
327.0
333.5
344.0
353.7
359.9
369.1
377.2
385.7
228.0
237.8
237.2
252.3
137.2
144.9
149.4
152.2
75.9
73.5
72.8
70.9
14.8
19.3
15.0
29.2
9.5
13.9
21.1
22.5
100.1
109.4
118.7
128.3
90.6
95.5
97.6
105.7
261.0
263.3
265.0
276.8
106.8
105.6
103.1
110.0
154.2
157.7
161.9
166 8
1,296.8
1,323.6
1,354.4
1,384.1
1,302.1
1,329.0
1,348.3
1,390.7
16.1
9.9
8.1
13.5
14.8
8.5
9.6
9.1
14.4
8.5
5.9
13.2
1974: I
II
III
IV
1,426.2
1,459.1
1,489.1
1,516.8
880.0
907.8
935.3
943.0
120.2
124.3
130.2
120.3
365.6
376.8
388.1
393.1
394.2
406.7
417.0
429.7
238.1
241.3
238.9
245.1
154.4
159.2
163.4
165.5
67.6
66.1
66.2
59.2
16.1
16.0
9.3
20.4
25.0
14.6
10.7
14.9
141.7
151.5
152.9
159.9
116.8
136.9
142.2
145.1
283.1
295.5
304.1
313.8
109.8
114.6
117.8
122.6
173.3
180.9
186.4
191.2
1,410.1
1,443.2
1,479.8
1,496.5
1,401.2
1,444.6
1,478.4
1,502.0
3.7
9.6
8.5
7.7
7.7
9.7
10.5
4.6
3.1
13.0
9.7
6.5
1975: I
II
III
IV
1,524.6
1,563.5
1,627.4
1,678.2
967.4
996.6
1,029.6
1,057.5
124.8
130.1
140.0
146.5
400.5
411.2
423.2
429.9
442.1
455.3
466.4
481.1
204.9
204.6
229.5
239.3
160.5
160.0
163.4
167.5
56.9
59.8
64.3
68.4
-12.5
-15.2
1.8
3.4
29.3
32.7
29.4
32.9
162.0
155.4
159.0
168.9
132.8
122.7
129.7
136.0
323.1
329.7
338.9
348.5
125.5
127.3
129.6
134.3
197.6
202.4
209.2
214.2
1,537.1
1,578.7
1,625.5
1,674.8
1,495.3
1,530.8
1,598.0
1,645.3
2.1
10.6
17.4
13.1
11.3
11.3
12.4
12.7
-1.8
9.8
18.7
12.4
1976: I
II
III
IV
1,730.9
1,761.8
1,794.7
1,843.7
1,091.8
1,111.2
1,139.8
1,174.6
156.4
158.9
162.4
168.1
439.4
446.4
456.0
466.0
495.9
505.8
521.4
540.6
264.6
275.8
279.6
290.6
171.8
176.3
182.7
189.2
75.9
79.9
79.5
91.3
16.8
19.6
17.4
10.2
23.6
20.0
17.0
14.7
170.6
175.1
180.5
184.8
147.0
155.1
163.4
170.1
350.9
354.9
358.2
363.8
132.3
134.9
137.5
140.7
218.6
220.0
220.8
223.0
1,714.1
1,742.2
1,777.2
1,833.6
1,707.3
1,741.9
1,777.6
1,829.0
13.2
7.3
7.7
11.4
9.7
6.7
8.3
13.3
15.9
8.4
8.5
12.1
1977: I
II
III
IV
1,899.1
1,968.9
2,031.6
2,062.4
1,211.8
1,239.2
1,270.2
1,307.6
177.0
181.9
186.5
192.6
477.5
485.6
491.9
506.8
557.4
571.7
591.7
608.2
311.5
341.4
363.7
359.6
200.1
209.5
218.0
229.0
96.3
110.2
113.0
115.0
15.1
21.7
32.7
15.6
4.0
4.2
5.3
-5.9
186.3
194.0
195.9
190.3
182.3
189.8
190.6
196.2
371.8
384.1
392.3
401.1
142.7
149.9
154.3
157.6
229.2
234.2
238.0
243.4
1,884.1
1,947.2
1,998.9
2,046.8
1,895.1
1,964.7
2,026.3
2,068.3
12.6
15.5
13.4
6.2
11.5
14.1
11.1
9.9
15.3
15.5
13.1
8.6
1978: I
II
III
IV
2,111.4
2,230.3
2,289.5
2,367.6
1,332.6
1,391.1
1,424.6
1,465.7
188.9
207.6
210.0
215.8
516.4
534.4
548.5
567.9
627.3
649,0
666.1
682.0
379.7
420.2
424.7
442.7
235.0
257.3
266.8
276.9
118.4
128.5
133.4
136.4
26.3
34.4
24.5
29.4
-6.6
1.3
6.8
15.0
203.8
222.1
233.2
250.9
210.4
220.7
226.4
236.0
405.6
417.6
433.4
444.2
154.9
157.1
165.4
169.9
250.7
260.6
268.1
274.3
2,085.1
2,195.9
2,265.0
2,338.2
2,117.9
2,228.9
2,282.7
2,352.6
9.8
24.5
11.0
14.4
7.7
23.0
13.2
13.6
9.9
22.7
10.0
12.8
1979: I
11
III
IV
2,420.5
2,474.5
2,546.1
2,591.5
1,501.8
1,537.6
1,590.0
1,637.5
215.6
214.4
223.9
221.9
583.4
600.9
623.6
645.1
702.8
722.4
742.5
770.5
446.9
4632
461.5
447.8
289.0
296.3
310.1
315.9
136.0
138.7
141.7
139.8
21.9
28.1
9.7
-7.8
22.7
15.2
21.8
15.4
265.2
278.1
301.0
320.6
242.6
262.9
279.2
305.2
449.2
458.6
472.8
490.7
172.1
173.1
178.6
188.0
277.1
285.4
294.2
302.7
2,398.7
2,446.4
2,536.4
2,599.3
2,397.9
2,459.3
2,524.3
2,576.1
9.2
9.2
12.1
7.3
10.8
8.2
15.5
10.3
7.9
10.6
11.0
8.5
1980: I
II
III
IV
2,673.0
2,672.2
2,734.0
2,848.6
1,682.2
1,688.9
1,749.3
1,810.0
225.0
204.9
218.7
228.5
662.0
671.8
686.4
705.2
795.1
812.2
844.2
876.3
461.0
425.0
405.4
456.4
326.7
314.1
319.7
330.5
133.9
110.5
115.3
130.5
.4
.5
-29.6
-4.6
20.7
30.1
46.8
30.8
346.5
348.4
350.1
358.9
325.8
318.3
303.3
328.1
509.1
528.2
532.6
551.4
197.0
208.9
207.2
219.3
312.2
319.2
325.4
332.1
2,672.5
2,671.7
2,763.6
2,853.3
2,652.3
2,642.1
2,687.2
2,817.8
13.2
-.1
9.6
17.9
11.7
-.1
14.5
13.6
12.4
-1.5
7.0
20.9
1981: I
II
III
IV
2,978.8
3,017.7
3,099.6
3,114.4
1,862.9
1,896.4
1,940.9
1,960.2
241.1
236.0
246.9
235.5
726.6
737.3
745.7
752.7
895.2
923.2
948.4
972.0
506.9
515.3
535.9
504.0
347.8
364.5
380.2
384.5
131.1
128.1
120.1
109.8
28.0
22.7
35.7
9.7
38.9
29.0
30.9
36.9
380.7
383.4
382.3
384.8
341.9
354.4
351.4
347.9
570.1
577.0
591.9
613.3
229.3
233.9
245.4
260.2
340.8
343.2
346.5
353.1
2,950.8
2,995.0
3,064.0
3,104.7
2,939.9
2,988.7
3,068.8
3,077.5
19.6
5.3
11.3
1.9
14.4
6.1
9.5
5.4
18.5
6.8
11.2
1.1
1982: I
II
III
IV
3,112.6
3,159.5
3,179.4
3,212.5
1,996.3
2,023.8
2,065.6
2,117.0
245.1
248.9
252.8
263.8
758.1
762.6
776.7
786.6
993.1
1,012.2
1,036.1
1,066.5
459.5
467.8
452.2
409.6
382.0
369.2
360.7
354.9
101.7
103.6
100.5
1*14.7
-24.1
-5.0
-9.0
-59.9
34.7
42.1
14.5
14.1
373.0
378.9
359.9
335.9
338.4
336.8
345.4
321.9
622.1
625.7
647.1
671.8
262.9
259.3
275.3
293.2
359.2
366.4
371.8
378.7
3,136.7
3,164.5
3,188.4
3,272.4
3,077.9
3,117.3
3,164.9
3,198.5
-.2
6.2
2.5
4.2
4.2
3.6
3.1
11.0
.1
5.2
6.2
4.3
1983: I
II
III
IV
3,265.8
3,367.4
3,443.9
3,545.8
2,146.6
2,213.0
2,262.8
2,315.8
266.7
284.5
295.2
310.0
791.0
810.9
827.0
837.9
1,088.9
1,117.6
1,140.6
1,167.9
428.3
481.3
519.7
579.8
340.8
344.7
358.1
383.9
130.2
147.8
167.1
164.9
-42.6
-11.2
-5.5
31.0
22.7
-2.1
-19.3
-25.8
343.6
344.1
357.7
364.7
320.9
346.2
376.9
390.5
668.1
675.2
680.7
676.1
285.5
287.7
284.9
276.1
382.7
387.5
395.8
400.0
3,308.4
3,378.6
3,449.4
3,514.8
3,243.1
3,369.5
3,463.1
3,571.6
6.8
13.0
9.4
12.4
4.5
8.8
8.6
7.8
5.7
16.5
11.6
13.1
1984: I
II
III
IV
3,674.9
3,754.2
3,807.9
3,851.8
2,361.1
2,417.0
2,450.3
2,493.4
322.7
335.1
337.7
346.7
849.9
866.9
872.8
879.6
1,188.6
1,215.1
1,239.7
1,267.1
663.0
664.2
670.3
661.8
392.7
413.2
423.3
435.0
176.2
184.3
182.1
181.8
94.1
66.7
65.0
45.0
-45.7
-62.8
-59.3
-67.9
374.3
383.2
390.8
385.7
420.0
446.1
450.1
453.6
696.5
735.8
746.6
764.5
284.0
315.0
317.0
326.0
412.5
420.8
429.6
438.5
3,580.8
3,687.4
3,742.9
3,806.8
3,720.6
3,817.0
3,867.2
3,919.7
15.4
8.9
5.8
4.7
7.7
12.5
6.2
7.0
17.8
10.8
5.4
5.5
1985: I
II
III
IV
3,921.1
3,973.6
4,042.0
4,104.4
2,549.9
2,602.0
2,665.4
2,700.1
358.2
362.4
383.7
370.5
894.4
910.4
918.4
929.3
1,297.3
1,329.2
1,363.3
1,400.3
638.6
648.4
628.6
650.8
431.5
445.6
442.0
451.5
185.8
184.3
189.0
196.8
-51.5
21.4
-77.3
18.5
-84.7
-2.4
2.5 -103.5
376.3
370.6
364.2
368.7
427.7
447.8
448.9
472.2
784.1
800.5
832.8
857.0
336.3
339.4
361.9
378.0
447.8
461.1
470.9
479.0
3,899.8
3,955.1
4,044.4
4,101.9
3,972.6
4,050.9
4,126.7
4,207.9
7.4
5.5
7.1
6.3
10.1
5.8
9.3
5.8
5.5
8.1
7.7
8.1
1986: I
II
III
IV
4,174.4
4,211.6
4,265.9
4,288.1
2,737.9
2,765.8
2,837.1
2,858.6
375.9
386.4
427.6
419.8
936.8
934.3
940.0
946.3
1,425.2
1,445.1
1,469.5
1,492.4
683.4
679.4
660.8
660.2
440.7
433.8
433.5
439.7
204.4
218.1
223.8
226.9
38.3
-93.8
27.5 -100.8
3.5 -110.5
- 6 . 4 -116.9
373.5
371.3
376.6
383.3
467.3
472.1
487.1
500.2
846.9
867.2
878.5
886.3
356.7
368.4
371.2
368.6
490.2
498.8
507.3
517.7
4,136.1
4,184.0
4,262.4
4,294.6
4,268.2
4,312.4
4,376.4
4,405.1
7.0
3.6
5.3
2.1
3.4
4.7
7.7
3.1
5.9
4.2
6.1
2.6
NOTE.—GNP=Gross national product; CBI=Change in business inventories.
SURVEY OF CURRENT BUSINESS
58
September 1987
Table 2.—Gross National Product in Constant Dollars
[Billions of 1982 dollars; quarterly data are seasonally adjusted at annual rates]
Personal consumption
expenditures
Year and
quarter
GNP
Total
Durable
goods
Nondurable
goods
Services
Total
Non residential
Residential
CBI
Government purchases
of goods and services
Net exports
Gross private domestic investment
Net
Exports
Imports
Total
Federal
State
and
local
Percent change from
preceding pei
•
Final
sales
Gross
domestic
purchases
GNP
Final
sales
_j
Gross
domestic
purchases
1929
709.6
471.4
40.3
211.4
219.7
139.2
93.0
35.4
10.8
4.7
42.1
37.4
94.2
18.3
75.9
698.7
704.9
1930
1931
1932
1933
1934
642.8
588.1
509.2
498.5
N
536.7
439.7
422.1
384.9
378.7
390.5
31.9
27.5
21.0
20.7
23.4
203.1
201.7
187.0
181.8
192.4
204.8
193.0
176.9
176.2
174.7
97.5
60.2
22.6
22.7
35.3
76.9
49.4
29.6
25.8
32.4
21.5
17.9
9.4,
7.7
10.5
-.9
-7.1
-16.4
-10.7
-7.6
2.3
-1.0
-.5
-1.4
.1
35.6
29.3
23.2
22.7
24.7
33.3
30.4
23.7
24.2
24.6
103.3
106.8
102.2
98.5
110.7
20.6
21.2
21.9
27.0
34.7
82.7
85.6
80.3
71.5
76.1
643.6
595.2
525.6
509.2
544.3
640.5
589.1
509.7
499.9
536.5
-9.4
-8.5
-13.4
-2.1
7.7
-7.9
-7.5
-11.7
-3.1
6.9
-9.1
-8.0
-13.5
-1.9
7.3
1935
1936
1937
1938
1939
580.2
662.2
695.3
664.2
716.6
412.1
451.6
467.9
457.1
480.5
28.9
35.9
37.7
30.4
35.7
201.5
224.3
232.8
235.4
248.0
181.7
191.4
197.4
191.3
196.7
60.9
82.1
99.9
63.1
86.0
40.0
54.4
65.5
48.8
53.2
14.7
18.7
20.2
20.4
28.9
6.2
9.0
14.1
-6.0
3.9
-5.9
-4.2
-.3
6.0
6.1
26.6
28.4
35.7
34.1
36.2
32.5
32.5
35.9
28.1
30.1
113.0
132.5
127.8
137.9
144.1
34.1
53.6
48.9
55.0
53.8
79.0
78.9
79.0
82.9
90.3
574.0
653.1
681.2
670.2
712.7
586.1
666.3
695.6
658.2
710.5
8.1
14.1
5.0
-4.5
7.9
5.5
13.8
4.3
-1.6
6.3
9.2
13.7
4.4
-5.4
7.9
1940
1941
1942
1943
1944
772.9
909.4
1,080.3
1,276.2
1,380.6
502.6
531.1
527.6
539.9
557.1
40.6
46.2
31.3
28.1
26.3
259.4
275.6
279.1
284.7
297.9
202.7
209.3
217.2
227.2
232.9
111.8
138.8
76.7
50.4
56.4
65.0
76.6
47.4
39.4
52.6
32.5
34.4
17.3
10.4
9.0
14.4
27.8
12.0
.7
-5.2
8.2
3.9
-7.7
-23.0
-23.8
40.0
42.0
29.1
25.1
27.3
31.7
38.2
36.9
48.0
51.1
150.2
235.6
483.7
708.9
790.8
63.6
153.0
407.1
638.1
722.5
86.6
82.6
76.7
70.8
68.3
758.5
881.6
1,068.3
1,275.5
1,385.7
764.6
905.5
1,088.0
1,299.2
1,404.3
7.8
17.7
18.8
18.1
8.2
6.4
16.2
21.2
19.4
8.6
7.6
18.4
20.1
19.4
8.1
1945
1946
1947
1948
1949
1,354.8
1,096.9
1,066.7
1,108.7
1,109.0
592.7
655.0
666.6
681.8
695.4
28.7
47.8
56.5
61.7
67.8
323.5
344.2
337.4
338.7
342.3
240.5
262.9
272.6
281.4
285.3
76.5
178.1
177.9
208.2
168.8
74.2
105.5
121.7
127.4
114.8
10.7
44.7
57.2
68.6
63.6
-8.4
27.9
-1.0
12.3
-9.7
-18.9
27.0
42.4
19.2
18.8
35.2
69.0
82.3
66.2
65.0
54.1
42.0
39.9
47.1
46.2
704.5
236.9
179.8
199.5
226.0
634.0
159.3
91.9
106.1
119.5
70.5
77.6
87.9
93.4
106.5
1,363.3
1,069.0
1,067.7
1,096.4
1,118.7
1,373.7
1,069.9
1,024.3
1,089.5
1,090.2
-1.9
-19.0
-2.8
3.9
0
-1.6
-21.6
2.7
2.0
-2.2
-22.1
-4.3
6.4
.1
1950
1951
1952
1953
1954
1,203.7
1,328.2
1,380.0
1,435.3
1,416.2
733.2
748.7
771.4
802.5
822.7
80.7
74.7
73.0
80.2
81.5
352.8
362.9
376.6
388.2
393.8
299.8
311.1
321.9
334.1
347.4
234.9
235.2
211.8
216.6
212.6
124.0
131.7
130.6
140.1
137.5
86.7
72.6
71.2
73.8
79.8
24.2
30.8
10.0
2.8
-4.8
4.7
14.6
6.9
-2.7
2.5
59.2
72.0
70.1
66.9
70.0
54.6
57.4
63.3
69.7
67.5
230.8
329.7
389.9
419.0
378.4
116.7
214.4
272.7
295.9
245.0
114.2
115.4
117.3
123.1
133.4
1,179.5
1,297.4
1,370.0
1,432.5
1,421.0
1,199.0
1,313.6
1,373.1
1,438.0
1,413.7
8.5
10.3
3.9
4.0
-1.3
5.4
10.0
5.6
4.6
-.8
10.0
9.6
4.5
4.7
-1.7
1955
1956
1957
1958
1959
1,494.9
1,525.6
1,551.1
1,539.2
1,629.1
873.8
899.8
919.7
932.9
979.4
96.9
92.8
92.4
86.9
96.9
413.2
426.9
434.7
439.9
455.8
363.6
380.1
392.6
406.1
426.7
259.8
257.8
243.4
221.4
270.3
151.0
160.4
161.1
143.9
153.6
92.4
84.4
79.3
81.0
100.2
16.3
12.9
3.0
-3.4
16.5
76.9
87.9
94.9
82.4
83.7
76.9
83.6
87.9
92.8
101.9
361.3
363.7
381.1
395.3
397.7
217.9
215.4
224.1
224.9
221.5
143.4
148.3
157.0
170.4
176.2
1,478.6
1,512.7
1,548.1
1,542.6
1,612.6
1,494.9
1,521.3
1,544.2
1,549.6
1,647.3
5.6
2.1
1.7
-.8
5.8
4.1
2.3
2.3
-.4
4.5
5.7
1.8
1.5
.4
6.3
1960
1961
1962
1963
1964
1,665.3
1,708.7
1,799.4
1,873.3
1973 3
1,005.1
1,025.2
1,069.0
1,108.4
1,170.6
98.0
93.6
103.0
111.8
120 8
463.3
470.1
484.2
494.3
517.5
443.9
461.4
481.8
502.3
532.3
260.5
259.1
288.6
307.1
325.9
159.4
158.2
170.2
176.6
194.9
93.3
93.6
102.2
113.9
115.3
7.7
7.3
16.2
16.6
15.7
0
4.3
7.0
-10.3
-18.2
-4.0
-2.7
-7.5
-1.9
5.9
98.4
100.7
106.9
114.7
128.8
102.4
103.3
114.4
116.6
122.8
403.7
427.1
449.4
459.8
470.8
220.6
232.9
249.3
247.8
244.2
183.1
194.2
200.1
212.0
226.6
1,657.5
1,701.4
1,783.3
1,856.7
1,957.6
1,669.3
1,711.3
1,807.0
1,875.3
1,967.3
2.2
2.6
5.3
4.1
5.3
2.8
2.6
4.8
4.1
5.4
1.3
2.5
5.6
3.8
4.9
1965
1966
1967
1968
1969
2 087 6
2,208.3
2,271.4
2,365.6
2,423.3
1 236 4
1,298.9
1,337.7
1,405.9
1,456.7
134 6
144.4
146.2
161.6
167.8
543 2
569.3
579.2
602.4
617.2
558.5
585.3
612.3
641.8
671.7
367.0
390.5
374.4
391.8
410.3
227.6
250.4
245.0
254.5
269.7
114.2
103.2
100.6
116.2
115.4
25.2
36.9
28.8
21.0
25.1
-2.7
-13.7
-16.9
-29.7
-34.9
132.0
138.4
143.6
155.7
165.0
134.7
152.1
160.5
185.3
199.9
487.0
532.6
576.2
597.6
591.2
244.4
273.8
304.4
309.6
295.6
242.5
258.8
271.8
288.0
295.6
2,062.4
2,171.5
2,242.6
2,344.6
2,398.1
5.8
5.8
2.9
4.1
2.4
5.4
5.3
3.3
4.5
2.3
6.3
6.3
3.0
4.7
2.6
1970
1971
1972
1973
1974
2,416.2
2,484.8
2,608.5
2,744.1
2,729.3
1,492.0
1,538.8
1,621.9
1,689.6
1,674.0
162.5
178.3
200.4
220.3
204.9
632.5
640.3
665.5
683.2
666.1
697.0
720.2
756.0
786.1
803.1
381.5
419.3
465.4
520.8
481.3
264.0
258.4
277.0
317.3
317.8
109.3
141.3
166.6
163.4
130.2
8.2
19.6
21.8
40.0
33.3
178.3
179.2
195.2
242.3
269.1
208.3
218.9
244.6
273.8
268.4
572.6
566.5
570.7
565.3
573.2
268.3
250.6
246.0
230.0
226.4
304.3
315.9
324.7
335.3
346.8
2,407.9
2,465.2
2,586.8
2,704.1
2,696.0
-.3
2.8
5.0
5.2
-.5
.4
2.4
4.9
4.5
-.3
-.5
3.2
5.3
4.4
-1.7
1975
1976
1977
1978
1979
2,695.0
2,826.7
2,958.6
3,115.2
3,192.4
1,711.9
1,803.9
1,883.8
1,961.0
2,004.4
205.6
232.3
253.9
267.4
266.5
676.5
708.8
731.4
753.7
766.6
829.8
862.8
898.5
939.8
971.2
383.3
453.5
521.3
576.9
575.2
281.2
290.6
324.0
362.1
389.4
114.9
140.8
168.1
178.0
170.8
-12.8
22.1
29.1
36.8
15.0
-30.0
-39.8
-49.4
-31.5
.8
18.9
-11.0
-35.5
-26.8
3.6
2,090.3
2,222.1
2,288.3
2,395.3
2,458.1
2,446.2
2,524.6
2,658.0
2,775.7
2,728.5
259.7
274.4
281.6
312.6
356.8
240.8
285.4
317.1
339.4
353.2
580.9
580.3
589.1
604.1
609.1
226.3
224.2
231.8
233.7
236.2
354.6
356.0
357.2
370.4
373.0
2,707.8
2,804.6
2,929.5
3,078.4
3,177.4
2,676.1
2,837.7
2,994.1
3,142.0
3,188.8
-1.3
4.9
4.7
5.3
2.5
.4
3.6
4.5
5.1
3.2
-1.9
6.0
5.5
4.9
1.5
1980
1981
1982
1983
1984
3,187.1
3,248.8
3,166 0
3,279.1
3,501.4
2,000.4
2,024.2
2,050 7
2,146.0
2,249.3
245.9
250.8
252 7
283.1
323.1
762.6
764.4
771.0
800.2
825.9
991.9
1,009.0
1,027.0
1,062.7
1,100.3
509.3
545.5
447.3
504.0
658.4
379.2
395.2
366.7
361.2
425.2
137.0
126.5
105.1
149.3
170.9
-6.9
23.9
-24.5
-6.4
62.3
57.0
49.4
26.3
-19.9
-84.0
388.9
392.7
361.9
348.1
371.8
332.0
343.4
335.6
368.1
455.8
620.5
629.7
641.7
649.0
677.7
246.9
259.6
272.7
275.1
290.8
373.6
370.1
369.0
373.9
387.0
3,194.0
3,225.0
3,190.5
3,285.5
3,439.1
3,130.1
3,199.4
3,139.7
3,299.1
3,585.4
-.2
1.9
-2.5
3.6
6.8
1985
1986
3,607.5
3,713.3
2,352.6
2,450.5
352.7
383.5
1,150.4
1,189.8
636.1
654.0
454.1
443.8
174.6
196.4
7.4 -108.2
13.8 -145.8
365.3
377.4
473.6
523.2
726.9
754.5
324.2
332.5
402.7
422.1
3,600.1
3,699.5
3,715.7
3,859.1
3.0
2.9
-1.8
2.2
-1.9
5.1
8.7
3.6
3.9
1960: I
II
Ill
IV
1,671.6
1,666.8
1,668.4
1,654.1
997.1
1,009.8
1,005.7
1,007.8
96.9
99.9
98.7
96.4
849.5
877.2
460.7
465.9
463.1
463.6
.5
1.0
-1.1
3.0
4.7
4.7
2.8
439.6
444.1
443.9
447.9
288.7
261.4
258.3
233.6
161.1
161.4
157.7
157.6
100.9
92.7
89.8
89.9
26.7
7.3
10.8
-13.9
-9.4
-6.9
-2.4
2.6
95.0
98.0
99.9
100.5
104.3
104.9
102.3
97.9
395.2
402.6
406.8
410.1
217.0
220.4
221.8
223.2
178.2
182.2
185.0
186.9
1,644.9
1,659.5
1,657.6
1,668.0
1,681.0
1,673.8
1,670.8
1,651.5
7.0
-1.1
.4
-3.4
5.2
3.6
-.5
2.5
5.4
-1.7
-.7
-4.5
1961: I
II
Ill
IV
1,671.3
1,692.1
1,716.3
1,754.9
1,009.5
1,023.5
1,024.6
1,042.9
91.2
91.8
93.7
97.8
465.3
470.4
469.2
475.5
453.0
461.3
461.7
469.7
238.3
249.1
270.5
278.4
155.3
157.0
158.0
162.6
90.2
90.5
95.4
98.4
-7.1
1.7
17.1
17.4
3.8
-3.0
-5.4
-6.0
102.1
96.9
100.8
102.9
98.3
99.9
106.2
109.0
419.7
422.4
426.7
439.6
226.9
230.8
233.1
240.7
192.8
191.6
193.5
198.9
1,678.5
1,690.4
1,699.2
1,737.5
1,667.6
1,695.1
1,721.7
1,761.0
4.2
5.1
5.8
9.3
2.5
2.9
2.1
9.3
4.0
6.8
6.4
9.4
1962- I
II
Ill
IV
1,777.9
1,796.4
1,813.1
1,810.1
1,053.6
1,063.6
1,072.8
1,085.8
99.9
102.0
103.1
106.8
480.2
481.3
485.7
489.7
473.6
480.3
484.0
489.3
287.7
291.2
294.7
280.7
165.5
171.3
173.4
170.5
100.2
103.1
102.9
102.7
22.0
16.7
18.4
7.5
-9.4
-5.2
-6.5
-9.0
102.3
108.9
108.8
107.5
111.7
114.1
115.3
116.5
446.0
446.9
452.1
452.6
248.7
248.1
250.9
249.4
197.3
198.8
201.2
203.2
1,755.9
1,779.7
1,794.7
1,802.6
1,787.3
1,801.6
1,819.6
1,819.1
5.3
4.2
3.8
-.7
4.3
5.5
3.4
1.8
6.1
3.2
4.1
-.1
1963: I
II
Ill
IV
1,834.6
1,860.0
1,892.5
1,906.1
1,094.1
1,100.2
1,115.5
1,123.6
109.2
111.2
112.9
113.9
492.4
492.2
495.9
496.5
492.6
496.7
506.7
513.1
291.9
306.9
315.6
314.0
168.9
174.3
179.4
183.9
106.1
114.0
116.0
119.4
17.0
18.6
20.2
10.7
-6.6
-1.4
-2.6
3.0
107.3
114.7
115.8
120.9
113.9
116.1
118.5
117.9
455.2
454.4
464.1
465.5
248.2
245.5
249.5
248.0
207.0
208.9
214.6
217.5
1,817.7
1,841.4
1,872.3
1,895.4
1,841.2
1,861.5
1,895.1
1,903.1
5.5
5.7
7.2
2.9
3.4
5.3
6.9
5.0
4.9
4.5
7.4
1.7
1964: I
II
Ill
IV
1,948.7
1,965.4
1,985.2
1,993.7
1,145.2
1,164.4
1,184.8
1,188.0
118.1
120.7
124.2
120.3
505.1
514.6
524.4
526.0
522.0
529.1
536.1
541.8
324.7
323.6
324.5
330.8
186.5
192.3
197.9
202.9
121.3
116.0
112.9
111.0
16.9
15.3
13.8
16.9
9.7
4.8
5.6
3.7
128.0
126.0
129.6
131.5
118.3
121.3
124.0
127.8
469.2
472.7
470.3
471.1
248.3
246.8
241.8
239.9
220.9
225.9
228.5
231.2
1,931.8
1,950.1
1,971.4
1,976.8
1,939.0
1,960.7
1,979.6
1,989.9
9.2
3.5
4.1
1.7
7.9
3.8
4.4
1.1
7.8
4.6
3.9
2.1
1965: I
II
Ill
IV
2,036.9
2,066.4
2,099.3
2,147.6
1,208.2
1,221.7
1,242.3
1,273.2
130.7
131.2
135.9
140.8
531.2
536.1
544.7
560.8
546.3
554.4
561.7
571.7
362.1
364.3
369.9
371.8
214.7
224.1
231.1
240.6
115.0
116.4
113.3
111.9
32.3
23.9
25.4
19.2
-3.0
-.4
-4.3
-3.2
120.1
135.8
132.7
139.3
123.1
136.3
137.0
142.5
469.6
480.8
491.5
505.8
236.3
241.3
244.9
255.2
233.4
239.6
246.6
250.6
2,004.6
2,042.5
2,073.9
2,128.3
2,039.9
2,066.8
2,103.6
2,150.8
9.0
5.9
6.5
9.5
5.7
7.8
6.3
10.9
10.4
5.4
7.3
9.3
1966: I
II
Ill
IV
2,190.1
2,195.8
2,21^.3
2,229.2
1,287.6
1,293.1
1,305.5
1,309.5
147.3
140.9
144.8
144.5
563.4
568.6
573.6
571.5
576.9
583.6
587.1
593.4
396.9
390.9
389.1
385.2
247.9
251.2
252.9
249.7
113.3
105.8
102.3
91.4
35.7
33.8
33.9
44.0
-7.9
-11.6
-18.2
-17.2
138.4
136.9
137.8
140.5
146.3
148.5
155.9
157.8
513.5
523.4
541.9
551.7
259.4
267.1
282.9
285.9
254.1
256.2
259.0
265.8
2,154.3
2,162.0
2,184.4
2,185.1
2,198.0
2,207.4
2,236.5
2,246.4
8.2
1.0
4.2
2.0
5.0
1.4
4.2
.1
9.1
1.7
5.4
1.8
1967: I
2,241.8
2,255.2
2,287.7
2,300.6
1,319.4
1,336.5
1,343.3
1,351.5
142.1
148.4
147.1
147.2
576.3
579.1
578.7
582.7
601.0
609.1
617.5
621.6
368.7
361.7
378.8
388.4
244.5
244.3
243.4
247.8
87.6
99.3
104.3
111.3
36.6
18.1
31.1
29.3
-15.5
-16.1
-13.5
-22.5
144.0
142.3
142.7
145.2
159.5
158.5
156.2
167.7
569.2
573.1
579.1
583.2
300.4
302.8
307.6
306.6
268.8
270.3
271.5
276.5
2,205.2
2,237.1
2,256.6
2,271.3
2,257.3
2,271.4
2,301.2
2,323.1
2.3
2.4
5.9
2.3
3.7
5.9
3.5
2.6
2.0
2.5
5.4
3.9
II
Ill
IV
59
SURVEY OF CURRENT BUSINESS
September 1987
Table 2.—Gross National Product in Constant Dollars—Continued
[Billions of 1982 dollars ; quarterly data are seasonally adjusted at annual rates]
Year and
quarter
GNP
Total
Durable
goods
Nondurable
goods
Services
Total
Nonresidential
Residential
CBI
Government purchases
of goods and services
Net exports
Gross private domestic investment
Personal consumption
expenditures
Net
Exports
Imports
Total
Federal
State
and
local
Final
sales
Gross
domestic
purchases
Percent change2 from
preceding penod
GNP
Final
sales
Gross
domestic
purchases
1968: I
II
Ill
IV
2,327.3
2,366.9
2,385.3
2,383.0
1,378.1
1,396.7
1,421.5
1,427.1
155.8
159.1
166.4
165.3
594.2
599.2
608.6
607.6
628.2
638.3
646.5
654.2
387.7
397.2
392.0
390.2
255.7
250.0
252.1
260.4
112.9
115.8
116.8
119.3
19.1
31.4
23.2
10.5
-28.7
-27.5
-29.2
-33.2
149.3
153.1
161.8
158.5
178.0
180.6
191.0
191.8
590.1
600.5
601.0
599.0
309.0
313.4
310.4
305.7
281.1
287.1
290.7
293.2
2,308.1
2,335.5
2,362.1
2,372.5
2,356.0
2,394.4
2,414.5
2,416.2
4.7
7.0
3.1
-.4
6.6
4.8
4.6
1.8
5.8
6.7
3.4
.3
1969: I
II
Ill
IV
2,416.5
2,419.8
2,433.2
2,423.5
1,442.9
1,451.7
1,459.9
1,472.0
168.8
168.2
167.6
166.7
613.4
616.2
617.6
621.4
660.7
667.3
674.7
683.9
412.0
409.1
419.5
400.5
266.0
267.9
273.8
271.1
119.4
118.3
116.5
107.5
26.6
22.9
29.2
21.9
-31.6
-36.9
-36.6
-34.3
144.9
171.3
170.3
173.3
176.5
208.2
206.9
207.7
593.2
596.0
590.4
585.3
299.0
299.8
294.2
289.5
294.2
296.2
296.2
295.8
2,389.9
2,397.0
2,403.9
2,401.6
2,448.1
2,456.7
2,469.8
2,457.8
5.7
.5
2.2
-1.6
3.0
1.2
1.2
-.4
5.4
1.4
2.2
-1.9
1970- I
II
III
IV
2,408.6
2,406.5
2,435.8
2,413.8
1,481.5
1,488.1
1,501.3
1,497.2
163.5
165.6
166.2
154.8
628.4
629.6
634.3
637.7
689.7
692.8
700.8
704.6
379.9
376.4
390.6
379.3
265.9
264.3
266.9
259.0
108.2
102.1
107.6
119.2
5.8
10.0
16.1
1.0
-31.4
-27.7
-27.7
-33.3
175.8
181.2
178.4
177.8
207.2
208.9
206.1
211.1
578.6
569.7
571.6
570.6
279.8
268.9
264.0
260.4
298.8
300.8
307.7
310.2
2,402.8
2,396.5
2,419.7
2,412.7
2,440.0
2,434.1
2,463.5
2,447.1
-2.4
.3
5.0
-3.6
.2
1.0
3.9
-1.2
-2.9
1.0
4.9
-2.6
1971: I
II
Ill
IV
2,478.6
2,478.4
2,491.1
2,491.0
1,520.9
1,533.0
1,541.0
1,560.1
170.7
175.1
180.0
187.4
639.4
640.9
639.0
641.8
710.8
717.0
722.0
731.0
415.5
423.1
425.9
412.8
257.7
258.6
257.6
259.6
126.1
139.3
147.7
152.2
31.7
25.2
20.6
1.0
-25.3
-41.7
-42.7
-49.3
178.7
180.2
187.5
170.4
204.0
221.8
230.2
219.7
567.6
564.0
566.9
567.4
255.5
249.1
251.1
246.6
312.1
314.9
315.8
320.8
2,447.0
2,453.2
2,470.5
2,489.9
2,503.9
2,520.1
2,533.8
2,540.3
11.2
0
2.1
0
5.8
1.0
2.9
3.2
9.6
2.6
2.2
1.0
1972: I
II
Ill
IV
2,545.6
2,595.1
2,622.1
2,671.3
1,581.8
1,607.9
1,629.9
1,667.8
191.7
196.1
201.4
212.4
647.5
661.8
670.4
682.2
742.7
750.0
758.1
773.2
439.5
462.3
473.8
486.0
267.9
272.2
275.9
292.2
163.6
164.5
165.6
172.8
8.1
25.6
32.4
21.0
-52.2
-49.2
-47.7
-48.6
189.5
186.9
196.6
207.8
241.7
236.1
244.3
256.4
576.4
574.1
566.1
566.1
253.6
252.2
241.7
236.4
322.8
321.9
324.4
329.7
2,537.5
2,569.6
2,589.7
2,650.3
2,597.8
2,644.3
2,669.8
2,719.9
9.1
8.0
4.2
7.7
7.9
5.2
3.2
9.7
9.4
7.4
3.9
7.7
1973: I
II
Ill
IV
2,734.0
2,741.0
2,738.3
2,762.8
1,689.9
1,687.2
1,694.5
1,686.8
225.7
221.8
220.0
213.8
687.8
680.8
684.5
679.4
776.3
784.6
790.0
793.5
515.7
521.7
511.4
534.2
304.5
316.7
322.6
325.5
177.1
165.3
158.7
152.5
34.1
39.6
30.1
56.3
-44.1
-36.6
-23.4
-22.4
227.7
239.2
247.8
254.1
271.8
275.7
271.2
276.5
572.5
568.6
555.8
564.2
240.4
235.8
220.0
223.9
332.2
332.8
335.8
340.3
2,700.0
2,701.4
2,708.2
2,706.5
2,778.1
2,777.6
2,761.7
2,785.1
9.7
1.0
-.4
3.6
7.7
.2
1.0
-.3
8.8
-.1
-2.3
3.4
1974- I
II
III
IV
2,747.4
2,755.2
2,719.3
2,695.4
1,667.5
1,677.2
1,686.7
1,664.7
208.2
209.9
211.6
189.7
664.9
665.4
670.2
663.9
794.4
801.9
804.9
811.0
501.1
496.5
465.5
462.2
324.4
324.7
316.0
306.2
141.4
134.4
130.6
114.4
35.3
37.5
18.8
41.5
11.0
1.4
-5.5
-3.5
266.8
276.6
266.7
266.7
255.8
275.2
272.3
270.2
567.8
580.2
572.6
572.1
223.9
232.0
225.2
224.4
343.9
348.2
347.4
347.7
2,712.1 2,736.4
2,717.8 2,753.8
2,700.4 2,724.8
2,653.9 2,699.0
-2.2
1.1
-5.1
-3.5
.8
.8
-2.5
-6.7
-6.8
2.6
-4.1
-3.7
1975: I
II
Ill
IV
2,642.7
2,669.6
2,714.9
2,752.7
1,677.1
1,706.0
1,723.9
1,740.4
193.5
198.7
211.7
218.3
666.9
677.8
679.8
681.5
816.7
829.6
832.4
840.5
370.6
358.1
394.4
410.1
285.5
277.6
279.6
282.1
106.9
110.8
118.2
123.6
-21.8
-30.3
-3.4
4.4
17.4
28.2
14.4
15.5
260.0
252.5
256.9
269.3
242.6
224.3
242.5
253.9
577.5
577.2
582.1
586.8
226.3
225.5
225.7
227.8
351.1
351.7
356.5
359.0
2,664.4
2,699.9
2,718.3
2,748.3
2,625.2
2,641.4
2,700.5
2,737.2
-7.6
4.1
7.0
5.7
1.6
5.4
2.8
4.5
-10.5
2.5
9.3
5.5
1976: I
II
Ill
IV
2,804.4
2,816.9
2,828.6
2,856.8
1,777.5
1,790.4
1,809.9
1,837.8
229.7
230.6
232.4
236.7
696.2
705.0
712.1
721.8
851.7
854.8
865.4
879.4
444.7
454.9
452.8
461.8
284.9
286.8
292.8
297.9
135.4
139.1
136.3
152.4
24.4
29.0
23.7
11.6
-.2
-8.7
-13.4
-21.8
268.5
272.0
277.9
279.1
268.7
280.7
291.3
300.9
582.4
580.3
579.4
579.0
222.1
223.4
225.4
226.1
360.3
357.0
354.0
352.8
2,780.0
2,787.9
2,805.0
2,845.2
2,804.6
2,825.6
2,842.1
2,878.6
7.7
1.8
1.7
4.0
4.7
1.1
2.5
5.9
10.2
3.0
2.4
5.2
1977: I
II
Ill
IV
2,896.0
2,942.7
3,001.8
2,994.1
1,863.7
1,869.0
1,888.0
1,914.2
246.7
251.8
256.2
261.1
728.8
727.3
728.3
740.9
888.2
889.9
903.5
912.2
492.0
519.0
546.9
527.2
311.5
320.4
327.8
336.4
156.3
172.7
174.4
169.1
24.2
25.9
U.I
21.7
-39.9
-32.8
-28.1
-41.0
277.8
284.8
287.0
276.9
317.7
317.7
315.1
317.9
580.2
587.5
594.9
593.6
223.8
230.8
238.0
234.8
356.3
356.7
357.0
358.9
2,871.8
2,916.8
2,957.1
2,972.4
2,935.9
2,975.5
3,029.9
3,035.0
5.6
6.6
8.3
-1.0
3.8
6.4
5.6
2.1
8.2
5.5
7.5
.7
1978: I
II
Ill
IV
3,020.5
3,115.9
3,142.6
3,181.6
1,923.0
1,960.8
1,970.3
1,989.7
252.6
272.4
270.9
273.9
745.8
749.1
753.5
766.3
924.6
939.2
945.9
949.6
544.0
584.6
583.3
595.8
339.5
363.6
369.4
376.0
172.9
179.8
180.8
178.6
31.6
41.1
33.1
41.3
-39.0
-30.7
-22.4
-15.1
290.8
307.6
318.5
333.1
329.8
338.3
341.0
348.2
592.5
601.3
611.5
611.1
228.4
230.3
238.3
237.9
364.1
371.0
373.2
373.2
2,988.9
3,074.8
3,109.5
3,140.3
3,059.5
3,146.6
3,165.0
3,196.7
3.6
13.2
3.5
5.1
2.2
12.0
4.6
4.0
3.3
11.9
2.4
4.1
1979: I
II
Ill
IV
3,181.7
3,178.7
3,207.4
3,201.3
1,997.5
1,994.1
2,007.9
2,018.0
268.9
262.9
270.9
263.4
766.2
762.1
766.0
772.2
962.4
969.1
971.0
982.4
582.2
590.1
575.7
552.9
383.7
384.9
394.2
394.8
174.6
172.4
170.6
165.7
23.9
32.8
10.9
-7.6
-4.8
-12.4
12.5
18.7
340.4
343.6
363.5
378.8
345.2
356.1
351.0
360.1
606.7
606.9
611.3
611.7
236.4
233.9
237.3
237.1
370.3
373.0
374.0
374.6
3,157.7
3,145.8
3,196.5
3,208.9
3,186.5
3,191.1
3,194.9
3,182.6
0
-.4
3.7
-.8
2.2
-1.5
6.6
1.6
-1.3
.6
.5
— 1.5
1980- I
II
III
IV
3,233.4
3,157.0
3,159.1
3,199.2
2,015.4
1,974.1
1,996.3
2,015.6
260.6
231.9
242.7
248.6
767.9
760.9
759.9
761.5
986.9
981.3
993.6
1,005.6
556.7
499.2
467.7
513.5
397.7
372.9
370.4
375.8
154.9
124.1
126.8
142.2
4.1
2.3
-29.5
-4.5
43.5
58.6
74.1
52.2
398.9
393.1
383.6
380.6
355.4
334.5
309.6
328.4
617.8
625.1
621.1
617.9
243.3
251.6
248.2
244.4
374.5
373.5
372.9
373.4
3,229.3
3,154.8
3,188.6
3,203.8
3,189.9
3,098.4
3,085.1
3,147.0
' 4.1
-9.1
.3
5.2
2.6
-8.9
4.4
1.9
.9
-11.0
-1.7
8.3
1981: I
II
Ill
IV
3,261.1
3,250.2
3,264.6
3,219.0
258.7
248.4
255.5
240.4
139.3
134.1
122.3
110.4
374.2
370.4
367.5
368.4
3,233.8
3,228.4
3,228.9
3,208.5
3,201.4
3,200.0
3,222.5
3,173.8
8.0
-1.3
1.8
-5.5
3.8
-.7
.1
-2.5
101.2
103.4
100.1
115.8
394.5
395.3
391.1
389.8
374.1
378.5
359.5
336.0
252.0
256.0
262.7
267.5
387.0
369.5
358.0
352.3
59.7
50.2
42.1
45.3
40.4
41.7
11.7
11.7
626.3
626.4
630.2
635.9
1,019.2
1,023.5
1,027.2
1,038.1
27.3
21.8
35.7
10.6
-24.0
-5.4
-9.4
-59.3
334.8
345.1
349.0
344.5
247.7
249.1
251.8
262.0
552.3
551.2
560.7
517.9
464.2
467.5
448.6
408.8
385.7
395.3
402.7
397.0
3,170.4
3,179.9
3,154.5
3,159.3
763.3
764.5
764.7
765.2
764.2
768.3
772.8
778.6
1,000.9
1,009.5
1,011.4
1,014.3
1982: I
II
Ill
IV
2,022.9
2,022.4
2,031.5
2,020.0
2,031.2
2,041.0
2,051.8
2,078.7
333.7
336.8
347.8
324.3
634.6
629.7
642.5
660.1
267.0
260.5
273.8
289.5
367.7
369.2
368.6
370.6
3,194.4
3,185.3
3,164.0
3,218.6
3,130.0
3,138.2
3,142.9
3,147.6
-5.9
1.2
-3.2
.6
-1.7
-1.1
-2.6
7.1
7.1
-.2
2.8
-5.9
-5.4
1.1
.6
.6
1983: I
II
Ill
IV
3,186.6
3,258.3
3,306.4
3,365.1
2,094.2
2,135.1
2,163.0
2,191.9
263.3
280.0
288.5
300.5
786.3
795.7
806.2
812.7
1,044.6
1,059.4
1,068.3
1,078.6
427.1
486.9
524.8
577.2
341.6
348.8
363.9
390.4
127.8
147.4
161.9
159.9
-42.3
-9.3
-1.0
27.0
16.1
-14.6
-35.0
-46.2
342.5
341.7
352.8
355.5
326.4
356.3
387.8
401.6
649.2
650.9
653.6
642.2
278.2
278.5
277.6
266.0
371.0
372.4
376.0
376.2
3,228.9
3,267.6
3,307.4
3,338.1
3,170.5
3,273.0
3,341.4
3,411.3
3.5
9.3
6.0
7.3
1.3
4.9
5.0
3.8
2.9
13.6
8.6
8.6
1984- I
II
Ill
IV
3,451.7
3,498.0
3,520.6
3,535.2
2,212.1
2,246.7
2,257.3
2,281.1
312.6
322.5
324.3
333.1
814.5
828.2
829.6
831.2
1,085.0
1,096.1
1,103.5
1,116.8
655.2
658.4
664.2
655.7
401.3
422.0
433.0
444.4
170.5
173.1
170.3
169.6
83.4
63.2
60.9
41.7
-68.6
-87.3
-85.5
-94.8
362.7
369.1
378.7
376.6
431.3
456.5
464.1
471.4
653.0
680.2
684.5
693.2
271.5
295.6
295.5
300.5
381.6
384.7
388.9
392.7
3,368.3 3,520.3
3,434.8 3,585.4
3,459.6 3,606.0
3,493.5 3,630.0
10.7
5.5
2.6
1.7
3.7
8.1
2.9
4.0
13.4
7.6
2.3
2.7
1985: I
II
Ill
IV
3,568.7
3,587.1
3,623.0
3,650.9
2,314.1
2,337.0
2,376.1
2,383.2
342.4
346.6
366.8
355.1
841.2
847.6
853.5
855.7
1,130.5
1,142.8
1,155.7
1,172.5
632.1
645.7
623.2
643.3
440.0
457.2
454.1
465.2
172.6
171.2
174.9
179.7
19.5 - 8 1 . 0
17.3 -107.7
- 5 . 7 -114.9
- 1 . 6 -129.3
369.7
364.7
360.5
366.5
450.7
472.4
475.4
495.8
703.4
712.1
738.6
753.7
308.4
310.7
332.5
345.3
395.0
401.4
406.1
408.4
3,549.2
3,569.9
3,628.7
3,652.5
3,649.6
3,694.8
3,737.9
3,780.2
3.8
2.1
4.1
3.1
6.5
2.4
6.8
2.6
2.2
5.0
4.7
4.6
1986: I
II
Ill
IV
3,698.8
3,704.7
3 718 0
3,731.5
2,409.7
2,434.3
2 477 5
2,480.5
359.8
369.6
405.5
399.0
868.8
880.0
879.8
880.3
1,181.2
1,184.7
1,192.2
1,201.1
674.4
665.6
645.0
631.0
453.2
441.0
437.7
443.2
185.9
196.5
201.1
202.2
-123.0
-146.8
-161.6
-151.8
371.5
370.2
379.6
388.3
494.4
517.0
541.2
540.1
737.6
751.6
757.2
771.8
322.1
330.6
332.6
344.6
415.5
421.0
424 6
427.1
3,663.4
3,676.7
3 7119
3,745.8
3,821.7
3,851.5
3 879 6
3,883.3
5.4
.6
14
1.5
1.2
1.5
39
3.7
4.5
3.2
30
NOTE.—GNP=Gross national product; CBI=Change in business inventories.
35.3
28.1
6.1
-14.4
'A
60
SURVEY OF CURRENT BUSINESS
September 1987
Table 3.—Price Indexes and the Gross National Product Implicit Price Deflator
[Index numbers, 1982 = 100; quarterly data are seasonally adjusted at annual rates]
Percent change from preceding
period
Fixed-weighted price indexes
Year and
quarter
Personal consumption expenditures
GNP
Total
1959
1960
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
1959: I....
II..
III.
IV.
1960: I....
II..
III.
IV.
1961: I....
II..
Ill,
IV.
1962: I....
II..
Ill
IV.
1963: I....
II..
III.
IV.
1964: I....
lira.
IV.
1965: I....
II..
III.
IV.
1966: I....
II..
III.
IV.
1967: I....
II..
III.
IV.
1968: I....
II..
III.
IV.
1969: I....
II..
III.
IV.
1970: I....
II..
III.
IV.
1971: I....
II..
III.
IV.
1972: I....
II..
III.
IV.
1973: I....
II..
III.
IV.
Durable Nondurable
goods
goods
Serv-
Government purchases of
goods and services
Fixed investment
Total
Nonresiden- Resi- Exports Imports
tial
dential
Total
Federal
State
and
local
Final
sales
GNP
IPD
FWPI
PCE
GNP
GNP
IPD
GNP
Chain
price
index
35.2
52.3
35.0
31.2
58.0
65.9
30.2
32.8
27.0
25.8
26.9
24.9
37.6
30.4
35.7
36.1
36.4
36.8
37.2
52.1
51.9
51.7
51.6
51.9
35.5
35.8
36.0
36.4
31.9
32.4
32.9
33.4
58.1
58.0
58.0
58.0
58.2
66.1
66.0
66.1
66.2
66.4
30.3
30.2
29.9
29.5
29.6
33.5
34.0
34.1
34.4
34.8
27.3
27.0
26.7
27.1
27.7
26.4
27.0
27.8
28.5
29.3
27.3
27.8
28.4
29.3
30.1
25.7
26.4
27.3
27.9
28.5
38.1
38.3
38.7
39.1
39.5
30.9
31.2
31.9
32.4
32.9
1.4
.7
.8
1.0
1.2
1.5
.9
.9
1.1
1.2
1.6
1.0
2.2
1.6
1.5
1.5
1.0
1.2
1.3
1.5
37.7
38.5
39.5
41.0
42.8
51.2
50.6
51.2
52.6
53.8
37.5
38.7
39.6
41.2
43.2
34.5
35.4
36.5
38.0
39.7
58.5
59.3
60.2
61.4
63.2
66.7
67.4
68.4
69.5
71.0
30.0
30.8
31.6
33.1
36.0
37.1
38.2
39.3
40.9
28.1
29.1
29.5
30.1
31.2
30.0
31.3
32.7
34.5
36.6
32.0
32.8
34.5
36.4
29.3
30.6
32.5
34.4
36.7
40.0
41.0
42.0
43.6
45.5
33.8
35.0
35.9
37.7
39.8
1.4
2.5
2.6
3.7
4.4
1.2
2.2
2.5
3.8
4.3
2.7
3.6
2.6
5.0
5.6
1.8
3.0
2.8
4.3
5.0
44.7
46.6
48.3
51.0
55.8
55.0
56.7
57.1
58.1
61.6
45.2
46.6
48.2
52.3
59.0
41.9
44.2
46.1
48.3
52.0
61.5
60.6
59.8
61.8
64.4
68.4
66.6
65.0
66.6
68.5
37.4
39.5
41.6
45.1
50.1
43.3
45.3
46.5
50.8
59.8
33.4
35.6
37.8
42.4
54.5
39.6
42.3
45.2
48.8
53.5
39.5
42.4
46.0
50.1
54.8
39.6
42.2
44.6
47.8
52.6
47.2
48.8
50.2
53.0
57.2
42.0
44.4
46.5
49.5
54.0
3.6
3.5
2.9
5.5
7.8
4.6
4.2
3.5
5.7
9.4
5.5
5.7
4.7
6.5
9.1
5.2
4.8
4.2
5.9
8.9
60.1
63.5
67.5
72.2
78.6
66.7
70.4
73.3
77.3
82.5
63.2
65.4
68.5
73.1
80.8
56.2
60.4
65.3
70.2
76.0
69.0
71.4
72.6
74.5
80.3
73.1
75.2
74.9
75.0
80.1
54.6
58.4
64.8
72.5
81.2
65.4
67.4
70.3
74.5
82.9
59.7
61.3
66.1
71.3
80.9
58.6
62.2
66.0
70.9
77.3
59.4
62.4
65.8
70.6
76.8
57.9
62.0
66.2
71.2
77.7
61.8
65.1
68.4
72.6
78.8
59.3
63.1
67.3
72.2
78.6
8.0
5.3
5.1
6.2
8.5
7.7
5.6
6.3
7.0
9.8
6.4
6.7
7.3
8.9
9.2
5.9
6.1
7.2
8.7
86.8
94.6
100.0
104.2
108.4
89.6
95.8
100.0
102.3
104.1
89.6
97.0
100.0
102.1
105.2
84.0
92.6
100.0
106.3
111.8
86.9
94.5
100.0
100.4
101.5
86.1
93.9
100.0
99.9
100.2
89.4
96.6
100.0
102.2
106.0
90.5
97.7
100.0
101.6
104.3
96.3
101.5
100.0
97.7
97.5
86.3
94.1
100.0
104.5
109.2
86.4
94.9
100.0
104.1
108.0
86.2
93.5
100.0
104.8
110.1
86.1
94.1
100.0
104.1
108.2
85.7
94.0
100.0
103.9
107.7
9.3
9.3
6.2
4.1
4.0
10.5
9.0
5.6
4.2
4.0
9.0
9.7
6.4
3.9
3.7
9.0
9.4
6.3
4.1
3.9
112.1
115.1
112.3
115.2
105.0
106.2
107.8
107.7
117.5
123.1
103.2
104.9
101.8
103.2
108.2
110.9
103.7
103.6
95.7
92.6
113.7
116.5
110.8
111.3
115.8
120.3
112.0
115.0
111.2
114.1
3.6
2.7
3.7
2.6
3.2
2.6
3.5
2.4
37.4
37.5
37.6
37.8
35.0
35.1
35.3
35.5
52.1
52.3
52.3
52.3
34.8
34.9
35.1
35.3
30.9
31.0
31.3
31.5
57.9
58.0
58.0
58.1
65.7
65.9
66.0
66.1
30.2
30.2
30.2
30.2
32.7
32.8
32.9
33.0
26.9
27.0
27.1
27.1
25.5
25.6
25.7
25.9
26.9
27.0
27.1
27.2
24.7
24.9
25.0
25.1
37.4
37.5
37.5
37.7
30.2
30.4
30.6
30.6
0
1.3
1.7
1.4
0
1.1
2.1
1.9
4.1
2.7
2.7
0
0
1.2
1.9
1.6
37.8
38.0
38.1
38.2
35.5
35.7
35.8
36.0
52.2
52.2
52.0
51.8
35.2
35.5
35.6
35.8
31.6
31.8
32.0
32.2
58.1
58.2
58.2
58.1
66.1
66.2
66.2
66.1
30.2
30.3
30.3
30.3
33.4
33.5
33.7
33.6
27.2
27.4
27.4
27.2
26.1
26.1
26.4
26.6
27.2
27.1
27.7
27.7
25.5
25.6
25.8
25.9
37.8
37.9
38.1
38.1
30.9
30.9
31.0
31.0
.9
1.8
1.5
.6
.4
2.3
1.4
1.4
4.0
0
1.3
0
1.0
2.0
1.8
1.2
38.2
38.3
38.4
38.4
36.0
36.0
36.1
36.1
51.8
51.9
52.0
51.8
35.8
35.7
35.8
35.7
32.3
32.4
32.5
32.6
58.1
58.0
58.0
58.0
66.1
66.0
66.0
66.0
30.2
30.3
30.2
30.1
33.6
34.1
34.0
34.1
27.2
27.0
27.0
26.8
26.7
26.8
27.0
27.2
27.7
27.9
27.9
28.1
26.1
26.3
26.5
26.7
38.2
38.2
38.3
38.3
31.0
31.2
31.4
31.4
.5
.5
-.1
1.2
.2
0
2.6
2.6
0
38.5
38.6
38.7
36.2
36.4
36.4
36.5
51.8
51.7
51.7
51.5
35.9
36.0
36.0
36.2
32.7
32.9
33.0
33.1
58.0
58.1
58.1
58.0
66.1
66.1
66.1
66.1
30.1
30.0
29.9
29.7
34.2
34.1
34.1
34.2
26.6
26.6
26.6
26.6
27.5
27.6
27.7
28.0
28.3
28.4
28.5
29.0
27.2
27.3
27.4
27.4
38.4
38.6
38.6
38.7
31.7
31.8
31.9
32.2
1.1
.9
.5
1.1
1.2
1.4
.7
1.1
3.9
1.3
1.3
3.8
.7
.6
1.1
.7
1.7
1.3
.8
1.8
38.9
38.9
39.0
39.2
36.6
36.7
36.9
37.0
51.5
51.5
51.6
51.8
36.3
36.3
36.5
36.6
33.2
33.3
33.5
33.6
58.1
58.0
58.0
58.0
66.2
66.2
66.2
66.2
29.8
29.6
29.3
29.5
34.2
34.3
34.3
34.5
26.7
27.0
27.2
27.5
28.2
28.3
28.4
28.7
29.1
29.2
29.2
29.7
27.7
27.8
27.9
28.2
38.8
38.9
39.0
39.2
32.3
32.3
32.4
32.6
1.1
.9
1.1
1.7
1.0
.9
1.6
1.4
1.2
0
1.2
2.5
1.4
.9
1.1
2.4
39.3
39.4
39.6
39.7
37.1
37.2
37.3
37.3
52.1
51.9
51.8
51.7
36.8
36.8
36.9
36.9
33.7
33.8
34.0
34.1
58.0
58.1
58.3
58.3
66.3
66.3
66.4
66.4
29.3
29.5
29.8
30.0
34.5
34.6
34.9
35.1
27.6
27.7
27.7
27.7
28.8
29.0
29.2
29.3
29.9
30.1
30.2
30.4
28.3
28.4
28.6
28.7
39.3
39.4
39.5
39.6
32.7
32.8
33.0
33.1
1.3
.9
1.2
1.0
1.5
.5
1.0
1.2
1.2
2.5
1.2
1.3
1.1
1.7
1.3
39.9
40.0
40.1
40.2
37.5
37.7
37.7
37.8
51.8
51.5
51.0
50.5
37.0
37.4
37.6
37.8
34.3
34.5
34.6
34.7
58.4
58.4
58.6
58.7
66.5
66.6
66.7
66.9
30.0
29.8
30.1
30.1
35.8
35.9
35.9
35.9
27.7
27.9
28.1
28.6
29.5
29.7
29.9
30.2
30.6
30.7
31.0
31.4
29.1
29.4
29.6
39.8
39.9
40.1
40.1
33.5
33.6
33.9
34.1
1.8
1.6
1.3
1.3
4.9
1.2
3.6
2.4
1.8
2.0
2.2
2.2
40.5
40.9
41.2
41.5
38.1
38.4
38.7
39.0
50.4
50.5
50.7
50.9
38.3
38.6
38.8
39.1
34.9
35.2
35.6
35.9
58.8
59.2
59.4
59.7
67.0
67.3
67.6
67.9
30.2
30.9
30.8
31.3
36.4
36.9
37.3
37.8
28.6
29.1
29.2
29.3
30.5
30.9
31.4
31.6
31.6
31.8
32.2
32.3
30.0
30.5
30.9
31.3
40.4
40.8
41.1
41.4
34.5
34.8
35.1
35.5
2.6
3.8
3.1
3.3
2.8
3.1
3.0
3.3
4.8
3.5
3.5
4.6
3.3
4.2
3.3
41.7
41.9
42.2
42.6
39.1
39.3
39.6
40.0
50.8
50.9
51.3
51.8
39.2
39.3
39.7
40.1
36.1
36.3
36.6
37.0
60.0
60.1
60.3
60.5
68.2
68.3
68.5
68.7
31.5
31.4
31.6
31.8
38.1
38.1
38.2
38.4
29.4
29.4
29.5
29.6
32.0
32.4
32.7
33.2
32.3
32.6
32.9
31.9
32.3
32.7
33.1
41.6
41.8
42.2
42.5
35.7
35.7
36.0
36.4
1.9
2.0
3.1
3.8
1.1
1.9
3.6
3.6
2.3
0
3.4
4.5
2.1
2.2
3.6
4.3
43.0
43.5
43.8
44.4
40.4
40.8
41.2
41.6
52.1
52.3
52.7
53.1
40.5
41.0
41.4
41.9
37.4
37.8
38.2
38.6
60.9
61.2
61.5
62.1
69.0
69.3
69.6
70.2
32.6
32.7
33.0
33.9
39.4
39.3
39.6
29.8
30.1
30.2
30.4
34.2
34.7
35.3
34.2
34.9
35.3
33.7
34.2
34.6
35.2
43.0
43.4
43.8
44.3
37.1
37.5
37.9
38.5
3.9
4.3
3.5
4.8
4.0
4.3
3.9
4.5
7.9
4.4
4.3
6.5
4.9
4.5
4.1
5.5
44.8
45.3
45.8
46.4
~42.0
42.5
43.0
43.5
53.3
53.7
53.9
54.3
42.3
42.9
43.5
44.1
39.0
39.5
39.9
40.5
62.7
63.1
63.4
63.7
70.6
70.9
71.2
71.4
35.3
35.8
40.2
40.4
41.0
42.0
30.7
30.9
31.3
32.0
35.6
36.1
37.0
37.5
35.5
35.8
36.9
37.3
35.7
36.3
37.0
37.6
44.7
45.2
45.8
46.3
39.0
39.5
40.1
40.6
4.1
4.3
5.2
4.6
3.6
4.9
4.6
5.2
5.3
5.2
6.2
5.1
4.7
4.9
6.2
5.1
46.8
47.1
47.3
47.8
44.0
44.5
44.9
45.5
54.4
54.7
55.0
55.9
44.7
45.1
45.4
45.8
41.0
41.6
42.1
42.8
62.7
61.6
60.9
60.7
70.0
68.4
67.7
67.4
37.0
37.9
37.2
37.6
42.5
43.3
43.5
43.9
32.4
32.9
34.0
34.5
38.5
39.2
39.9
40.5
38.6
39.2
39.8
40.4
38.5
39.2
39.9
40.5
46.7
47.0
47.2
47.7
41.3
41.9
42.2
42.7
3.4
2.6
1.9
4.1
4.7
4.1
3.9
5.4
7.1
5.9
2.9
4.8
6.0
5.0
3.3
5.2
48.3
48.7
49.0
49.3
45.9
46.4
46.9
47.2
56.6
56.9
56.7
56.4
45.9
46.4
46.8
47.1
43.3
43.9
44.5
45.0
60.8
60.7
60.5
60.4
67.1
66.9
66.5
66.1
38.5
39.3
39.7
40.4
44.9
45.2
45.3
45.7
35.3
35.3
35.8
36.1
41.5
42.1
42.6
43.1
41.7
42.4
42.7
43.4
41.3
42.0
42.5
42.8
48.2
48.7
49.0
49.3
43.4
44.2
44.7
45.3
4.3
4.0
2.5
2.3
3.8
4.4
3.9
2.8
6.7
7.6
4.6
5.5
5.9
5.2
3.7
3.4
49.9
50.1
50.4
50.9
47.7
48.0
48.4
48.9
56.8
57.1
57.3
57.2
47.6
47.9
48.3
48.9
45.5
45.9
46.4
46.8
60.3
59.7
59.5
59.7
65.9
65.0
64.6
64.5
40.7
41.1
41.7
42.8
46.2
46.4
46.4
47.1
37.0
37.6
38.1
38.7
44.4
44.9
45.5
46.2
45.4
45.8
46.2
47.0
43.6
44.2
44.9
45.6
49.8
50.0
50.3
50.8
45.8
46.1
46.7
47.3
4.4
1.5
2.4
3.9
4.2
2.8
3.4
3.7
4.5
2.6
5.3
5.2
5.8
2.8
3.8
4.8
51.7
52.6
53.7
54.4
49.5
50.5
51.5
52.4
57.5
58.0
58.3
58.5
50.0
51.5
53.1
54.5
47.2
47.9
48.6
49.4
60.5
61.8
62.5
62.5
65.5
66.6
67.2
67.0
43.2
44.7
46.1
46.7
48.1
49.6
51.6
53.8
39.6
41.8
43.0
45.5
47.3
48.3
49.4
50.2
48.3
49.3
51.0
51.9
46.5
47.5
48.3
49.0
51.6
52.5
53.6
54.4
48.0
49.0
50.0
51.2
6.3
7.4
8.3
5.9
5.5
8.2
7.8
7.7
6.1
8.6
8.4
10.0
5.8
7.4
8.3
6.8
37.6
38.1
38.4
38.7
39.1
39.6
40.1
41.1
42.1
43.7
45.6
47.2
48.8
50.3
53.1
57.2
61.8
65.1
68.4
72.7
78.8
86.1
94.1
100.0
104.1
108.3
2.4
61
SURVEY OF CURRENT BUSINESS
September 1987
Table 3.—Price Indexes and the Gross National Product Implicit Price Deflator—Continued
[Index numbers, 1982=100; quarterly data are seasonally adjusted at annual rates]
Fixed-weighted price indexes
Year and
quarter
GNP
Total
Durable Nondurable
goods
goods
Services
Percent change from preceding
Fixed investment
Personal consumption expenditures
Total
Government purchases of
goods and services
Nonresiden- Residential
tial
Exports Imports
Total
48.0
49.4
51.0
52.2
53.6
54.2
54.6
55.7
56.5
58.2
60.9
63.8
65.5
65.2
65.2
65.7
49.5
53.7
56.4
58.3
66.4
67.0
67.5
68.6
75.1
75.1
74.6
74.6
56.5
57.8
58.8
60.3
62.0
64.1
65.0
68.0
73.1
73.9
74.7
75.9
74.4
74.7
75.0
75.9
73.4
74.9
76.8
78.7
77.6
79.6
81.3
82.6
86.6
88.6
90.6
92.8
80.8
82.9
85.1
87.3
93.4
95.2
96.7
98.0
95.4
96.5
97.6
98.4
89.5
91.4
93.8
95.8
98.3
99.1
100.7
101.8
98.9
99.9
100.4
100.7
99.2
99.2
100.5
101.0
97.4
98.9
100.8
102.7
102.6
103.6
104.6
105.7
102.6
103.7
104.8
105.8
101.4
101.7
102.5
103.4
100.7
102.0
102.7
103.3
104.3
105.5
106.9
108.4
1984: 1
II
III
IV
106.8
107.8
108.7
109.6
107.0
107.9
108.9
109.7
103.5
104.1
104.3
104.5
104.6
104.9
105.4
106.0
1985: 1
II
III
IV
110.7
111.7
112.5
113.5
110.7
111.9
112.8
114.0
104.9
105.0
104.9
105.1
1986: I
II
III
IV
114.1
114.7
115.5
116.1
114.4
114.5
115.5
116.4
105.4
105.8
106.7
107.1
1974: I
II
III
IV
1975: 1
II
III
IV
1976: ]
II
III
IV
55.5
56.4
57.8
59.3
53.8
55.2
56.4
57.8
59.0
60.5
62.6
64.4
56.8
58.4
59.6
61.1
50.3
51.4
52.5
53.6
62.8
63.7
64.9
66.3
671
67.8
68.9
70.4
60.4
61.1
62.3
63.3
58.7
59.4
60.6
61.7
65.4
66.4
67.1
68.1
61.8
62.3
63.8
64.7
54.8
55.6
56.6
57.8
68.0
68.9
69.2
69.8
72.1
73.1
73.4
73.8
64.0
64.7
65.4
66.3
62.3
62.9
63.9
64.8
69.1
69.9
70.7
71.8
64.7
65.0
65.6
66.2
58.8
59.7
60.8
62.1
70.7
71.4
71.7
71.8
74.7
75.3
75.4
75.2
1977: 1
II
III
IV
67.2
68.1
68.7
69.7
65.9
67.0
68.0
69.0
72.5
72.9
73.5
74.4
67.1
68.1
69.0
69.7
63.5
64.7
66.0
67.1
72.2
72.6
72.5
73.1
1978: 1
II
III
IV
70.7
72.0
73.2
74.7
70.0
71.6
72.9
74.2
75.3
76.6
78.0
79.2
70.6
72.7
74.0
75.3
68.3
69.6
70.9
72.2
1979: I
II
III
IV
76.3
78.0
79.7
81.3
75.8
77.6
79.5
81.4
80.5
81.9
83.0
84.6
77.4
79.8
81.9
83.9
1980: 1
II
III
IV
83.2
85.1
86.9
89.3
83.7
85.8
87.8
90.0
86.9
88.8
90.5
92.2
1981: 1
II
III
IV
91.5
93.1
95.1
96.9
92.2
93.8
95.5
97.1
1982: I
II
III
IV
98.2
99.4
100.7
101.7
1983: 1
II
III
IV
Federal
State
and
local
Final
sales
Fwri
GNP
PCE
GNP
IPD
GNP
Chain
price
index
51.5
52.5
54.2
55.9
57.0
57.9
59.0
60.3
53.1
53.4
55.4
57.4
50.3
51.8
53.4
54.8
55.5
56.4
57.7
59.3
51.9
53.0
54.8
56.3
8.2
6.7
9.9
11.2
11.2
10.1
9.4
10.0
5.6
8.8
14.3
11.4
8.5
8.8
12.5
12.3
58.1
58.6
59.7
61.1
56.1
57.4
58.6
59.6
60.4
61.1
62.2
63.3
57.7
58.6
59.9
61.0
7.8
4.6
7.7
6.7
6.7
4.9
8.4
6.9
10.3
6.4
9.2
7.6
9.3
6.0
8.3
7.2
61.0
61.8
62.4
63.4
61.6
62.0
62.2
63.6
60.7
61.7
62.5
63.3
64.0
64.6
65.3
66.3
61.7
62.5
63.4
64.5
4.6
4.2
4.4
5.9
4.2
4.2
6.0
6.2
4.7
5.3
5.9
7.1
4.8
4.6
5.4
6.8
69.5
70.6
70.3
70.7
60.1
61.0
61.9
62.2
64.1
65.8
67.0
67.6
64.6
65.6
66.2
67.8
64.8
65.4
65.3
67.6
64.4
65.8
66.8
68.0
67.2
68.1
68.7
69.7
65.6
66.9
67.7
68.9
5.5
5.6
3.4
6.0
7.0
6.8
6.2
5.6
7.0
8.2
4.9
7.3
6.2
6.7
4.7
7.5
68.6
71.5
73.7
76.2
72.1
73.8
74.8
76.9
69.0
70.9
72.0
73.3
69.0
70.1
71.4
73.3
69.1
69.7
70.6
73.0
69.0
70.3
71.9
73.5
70.6
71.9
73.2
74.7
69.9
71.6
72.9
74.4
5.4
7.7
7.0
8.7
6.3
9.3
7.5
7.6
5.9
10.1
7.5
8.5
5.8
9.1
7.8
9.1
77.8
80.2
82.7
84.2
86.3
89.1
90.9
91.7
79.5
82.3
84.0
85.6
87.6
88.9
91.4
94.4
75.8
78.6
82.3
86.8
92.4
95.3
98.1
100.0
74.5
76.0
77.9
80.8
74.1
75.2
77.0
80.9
82.7
85.3
86.2
91.4
74.9
76.5
78.6
80.7
76.2
78.0
79.7
81.3
76.1
77.8
79.4
81.0
8.3
9.6
8.7
8.7
8.7
10.0
9.9
9.9
9.5
9.2
8.5
8.3
8.4
9.6
8.1
8.2
84.3
86.2
87.9
89.2
77.6
79.5
80.9
82.1
83.7
85.4
87.0
88.5
83.3
85.4
87.2
88.9
83.2
85.1
86.9
89.3
82.7
84.6
86.5
89.0
9.4
9.5
9.0
11.3
12.1
10.1
9.9
10.2
8.7
9.5
9.3
12.1
9.0
9.4
9.4
11.3
91.4
93.4
95.6
97.7
99.2
100.0
100.6
100.2
90.7
92.8
94.8
97.1
98.8
100.0
100.7
100.5
94.0
95.4
98.1
99.6
100.5
100.2
100.4
99.1
96.6
97.4
98.0
98.7
99.7
100.1
100.1
100.0
101.9
102.5
100.7
101.0
101.4
100.0
99.3
99.3
91.7
93.1
94.6
96.8
92.6
93.7
95.0
98.1
98.7
99.6
100.0
101.7
91.0
92.7
94.3
95.9
97.7
99.2
100.9
102.2
91.4
93.1
95.1
96.9
91.3
92.8
94.9
96.7
10.0
7.5
8.8
7.7
10.2
7.4
7.6
6.4
10.7
6.7
9.4
7.8
9.8
7.5
9.0
7.9
98.2
99.4
100.7
101.7
98.2
99.4
100.8
101.7
5.7
4.7
5.5
4.0
5.2
3.5
6.3
4.8
6.4
5.0
5.8
3.6
5.9
4.8
5.6
4.1
100.3
99.7
99.9
99.6
100.4
101.0
101.7
103.2
103.9
104.9
104.5
104.0
3.2
3.2
3.5
4.7
3.7
3.6
4.1
3.9
108.2
109.6
110.7
111.9
106.8
107.8
108.7
109.5
4.5
3.8
3.4
3.1
101.2
101.6
102.0
102.5
107.6
107.6
108.0
109.4
103.9
104.0
103.6
103.5
112.3
113.2
113.9
115.2
113.7
115.2
116.4
117.8
110.6
111.7
112.5
113.4
109.9
110.8
111.6
112.4
3.3
3.3
2.9
2.9
4.0
3.8
2.8
3.4
108.3
106.7
107.5
108.2
121.3
122.6
123.8
124.9
104.1
104.8
105.1
105.7
102.4
103.1
103.3
103.9
109.9
110.7
111.1
112.0
103.9
103.8
103.5
103.5
95.1
91.4
91.6
93.5
115.7
116.0
116.5
117.6
111.7
111.4
111.0
111.1
118.7
119.4
120.5
122.4
114.0
114.6
115.3
116.0
112.9
113.7
114.7
114.9
2.2
2.2
2.6
2.3
4.5
3.2
3.8
3.2
3.4
4.5
3.3
4.2
1.7
.3
3.6
3.0
4.2
3.0
3.4
3.0
102.6
102.9
103.4
104.0
3.6
3.8
4.2
4.0
4.5
3.8
3.4
3.2
4.1
3.7
2.9
3.4
2.8
4.6
4.1
4.1
115.1
116.7
118.4
119.9
102.8
103.7
104.5
105.4
106.9
107.8
108.1
109.0
110.5
110.4
110.4
111.7
102.5
103.3
104.2
105.4
106.5
107.3
108.2
109.0
106.6
107.7
108.0
109.0
98.3
97.4
97.7
97.6
97.7
98.1
97.4
96.8
95.4
95.6
95.1
96.6
102.6
103.5
104.6
105.6
99.5
99.9
100.4
100.9
101.9
100.4
103.2
103.3
103.5
106.4
106.9
107.2
103.2
104.1
105.3
106.4
109.7
111.1
112.6
113.8
100.7
99.9
100.6
100.5
100.4
101.4
101.8
102.3
1.8
2.9
3.6
.7
1.7
1.9
2.6
2.0
59.6
60.3
59.5
59.6
83.0
85.4
86.8
90.0
98.1
99.4
100.5
102.0
103.0
103.9
105.0
106.0
107.7
108.8
109.6
110.7
NOTE.—GNP=Gross national product; PCE=Personal consumption expenditures; IPD=Implicit price deflator; FWPI = Fixed-weighted price index.
GNP
IPD
SURVEY OF CURRENT BUSINESS
62
September 1987
Table 4.—National Income and Disposition of Personal Income
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Compensation of employees
Year and
quarter
National
income
Total
SuppleWages ments to
wages
and
and
salaries
salaries
Proprietors'
Rental
income with
IVA and CCAdj income
of
persons
Nonwith
Farm
farm
CCAdj
Corporate profits with IVA and CCAdj
Total
CCAdj
IVA
Profits
before
tax
Profits
after
tax
Net
interest
Less:
Saving
PersonL/ess. Equals:
as
Person- al tax Equals:
Person- Person- percentand
al
DPI
al
al
age of
income nontax
outlays saving
DPI
payments
DPI in
constant
(1982)
dollars
1929
84.7
51.1
50.5
.7
6.1
8.3
4.9
9.6
.5
-.9
10.0
8.6
4.7
84.3
2.6
81.7
79.2
2.6
3.2
498.6
1930
1931
1932
1933
1934
46.9
39.8
31.1
29.6
34.3
37.4
43.0
48.0
45.0
48.2
52.2
64.8
85 3
109.6
121.3
46.2
39.2
30.5
29.0
33.7
36.7
42.0
46.1
43.0
46.0
49.9
62.1
82 1
105.8
116.7
.7
.6
.6
.6
.6
.7
1.0
1.8
2.0
2.2
2.3
2.8
32
3.8
4.5
4.3
3.4
2.1
2.5
2.9
5.2
4.3
6.0
4.4
4.4
4.4
6.4
10 1
12.0
11.9
6.9
5.2
3.1
2.9
4.3
5.1
6.3
6.8
6.5
7.1
8.2
10.8
13 8
16.8
18.1
4.2
3.4
2.7
2.0
1.6
1.6
1.7
1.9
2.4
2.6
2.7
3.2
41
4.6
4.8
6.3
1.6
-1.6
-1.5
1.1
2.7
5.0
5.8
3.9
5.5
8.8
14.3
19 7
24.0
24.2
3.3
2.4
1.0
-2.1
-.6
-.2
-.7
0
1.0
-.7
-.2
-2.5
-12
-.8
-.3
-.7
-.4
-.3
-.3
-.6
-.6
-.6
-1.1
-1.1
-1.0
-1.1
-1.1
- 8
2.9
-.9
-2.7
.4
1.6
2.6
4.9 "
5.4
3.0
5.7
7.2
10.3
10 3
11.2
11.3
4.9
4.9
4.6
4.1
4.1
4.1
3.8
3.7
3.6
3.6
3.3
3.3
31
2.7
2.3
2.5
1.8
1.4
1.4
1.6
73.0
62.9
48.0
44.9
51.6
71.1
61.4
49.3
46.5
52.0
1.9
1.4
-1.3
-1.6
-.4
2.6
2.3
-2.8
-3.6
-.9
459.2
438.7
380.2
370.8
392.1
59.8
68.0
73.4
67.6
72.1
77.6
95.2
122 4
150.7
164.5
1.9
2.2
2.9
2.8
2.4
57.9
65.8
70.5
64.8
69.7
56.4
62.8
67.5
64.9
67.9
1.5
3.0
2.9
-.1
1.8
2.5
4.5
4.2
-.1
2.6
427.8
479.1
494.7
462.3
499.5
.2
3.7
-.4
-2.3
1.0
2.3
3.6
6.3
6.9
4.0
7.2
10.0
17.9
217
25.3
24.2
75.5
64.7
49.4
46.3
53.1
1940
1941
1942
1943
1944
73.5
58.3
42.0
39.4
48.3
56.1
64.0
72.2
65.8
71.2
79.6
102.8
136 2
169.7
182.6
2.6
3.3
59
17.8
18.9
75.0
91.9
116 4
132.9
145.6
72.0
81.9
89 5
100.2
109.0
3.0
10.0
27 0
32>
36.5
4.0
10.9
23 2
24.6
25.1
530.7
604.1
693.0
721.4
749.3
1945
1946
1947
1948
1949
181.6
180.7
196.6
221.5
215.2
123.3
119.6
130.1
142.1
142.0
117.5
112.0
123.1
135.5
134.7
5.8
7.6
7.0
6.5
7.3
12.4
14.8
15.1
17.5
12.8
19.1
21.5
20.4
22.9
23.1
5.0
5.8
5.8
6.4
6.7
19.7
17.2
22.9
30.3
28.0
-.6
-5.3
-5.9
-2.2
1.9
.4
-2.4
-2.9
-3.2
-3.0
19.8
24.8
31.8
35.6
29.2
9.1
15.7
20.5
23.2
19.0
2.2
1.8
2.3
2.4
2.6
170.0
177.6
190.2
209.2
206.4
20.8
18.7
21.4
21.0
18.5
149.2
158.9
168.8
188.1
187.9
120.5
145.3
163.6
177.0
180.6
28.7
13.6
5.2
11.1
7.4
19.2
8.6
3.1
5.9
3.9
739.5
723.3
694.8
733.1
733.2
1950
1951
1952
1953
1954
239.8
277.3
291.6
306.6
306.3
155.4
181.6
196.3
210.4
209.4
147.2
171.6
185.6
199.0
197.2
8.2
10.0
10.7
11.5
12.1
13.6
16.0
15.0
13.0
12.4
25.2
28.0
29.4
30.4
31.1
12.6
16.6
17.4
18.4
16.4
6.1
7.3
7.3
7.2
6.3
791.8
819.0
844.3
880.0
894.0
11.3
11.1
11.0
13.1
10.8
34.0
35.8
37.8
38.5
40.9
27.2
27.6
26.7
22.9
28.9
3.0
3.5
3.9
4.4
5.2
5.8
6.5
7.8
9.5
10.2
194.8
211.0
222.4
236.7
244.1
13.8
15.7
17.8
18.5
21.4
314.2
337.2
356.3
367.1
390.7
35.4
39.7
42.4
42.2
46.1
278.8
297.5
313.9
324.9
344.6
262.8
276.2
291.2
300.6
322.8
16.0
21.3
22.7
24.3
21.8
5.8
7.2
7.2
7.5
6.3
944.5
989.4
1,012.1
1,028.8
1,067.2
1960
1961
1962
1963
1964
424.9
439.0
473.3
500.3
537.6
296.7
305.6
327.4
345.5
371.0
272.8
280.5
299.3
314.8
337.7
23.8
25.1
28.1
30.7
33.2
11.6
12.0
12.1
11.9
10.7
40.5
42.3
44.4
45.7
49.8
-.2
.3
0
.1
-.5
42.9
44.5
39.6
41.2
38.7
49.2
49.6
48.1
41.9
52.6
49.9
49.8
55.1
59.8
66.7
207.5
227.6
239.8
255.1
260.5
212.1
229.0
239.9
241.3
259.8
-3.0
-3.4
-3.2
-2.5
-1.8
-.4
-1.2
-1.3
-1.3
-.8
-.3
.2
3.1
3.8
4.5
20.6
28.9
34.0
35.5
32.5
225.9
244.7
257.8
259.8
281.2
-5.0
-1.2
1.0
-1.0
-.3
-1.7
-2.7
-1.5
-.3
-.3
228.1
256.5
273.8
290.5
293.0
336.3
356.3
372.8
375.0
409.2
34.9
39.9
37.5
37.7
36.6
47.1
45.7
45.3
40.3
51.4
49.5
50.3
58.3
63.6
70.7
25.0
21.9
20.2
20.9
21.1
1955
1956
1957
1958
1959
7.7
8.3
9.4
10.7
11.6
12.0
12.4
13.1
13.9
14.6
15.3
15.8
16.5
17.1
17.3
27.2
27.1
31.2
33.5
38.7
11.3
12.9
14.6
16.3
18.2
409.4
426.0
453.2
476.3
510.2
50.5
52.2
57.0
60.5
58.8
358.9
373.8
396.2
415.8
451.4
338.1
348.9
370.2
391.2
419.9
20.8
24.9
25.9
24.6
31.5
5.8
6.6
6.5
5.9
7.0
1,091.1
1,123.2
1,170.2
1,207.3
1,291.0
1965
1966
1967
1968
1969
585.2
642.0
677.7
739.1
798.1
399.8
443.0
475.5
524.7
578.4
363.7
400.3
428.9
471.9
518.3
36.1
42.7
46.6
52.8
60.1
13.0
14.0
12.7
12.8
14.6
52.1
55.5
58.4
62.6
64.7
18.1
18.6
19.6
18.4
18.4
81.3
86.6
84.1
90.7
87.4
-1.2
-2.1
-1.6
-3.7
-5.9
5.2
5.4
5.5
5.3
6.1
77.4
83.3
80.1
89.1
87.2
46.5
49.6
47.5
49.7
47.5
20.9
24.3
27.4
29.8
34.6
552.0
600.8
644.5
707.2
772.9
65.2
74.9
82.4
97.7
116.3
486.8
525.9
562.1
609.6
656.7
452.5
489.9
516.9
567.1
614.5
34.3
36.0
45.1
42.5
42.2
7.0
6.8
8.0
7.0
6.4
1,365.7
1,431.3
1,493.2
1,551.3
1,599.8
1970
1971
1972
1973
1974
832.6
898.1
994.1
1,122.7
1,203.5
618.3
659.4
726.2
812.8
891.3
551.5
584.5
638.7
708.6
772.2
66.8
74.9
87.6
104.2
119.1
14.7
15.5
19.4
33.7
27.5
65.4
71.4
79.0
85.3
91.3
18.2
18.6
17.9
18.0
16.1
74.7
87.1
100.7
113.3
101.7
-6.6
-4.6
-6.6
-20.0
-39.5
5.2
4.3
5.8
6.2
2.3
76.0
87.3
101.5
127.2
138.9
41.7
49.6
59.6
77.9
87.1
41.2
46.3
51.0
59.6
75.5
831.8
894.0
981.6
1,101.7
1,210.1
116.2
117.3
142.0
152.0
171.8
715.6
776.8
839.6
949.8
1,038.4
657.9
710.5
778.2
860.8
941.7
57.7
66.3
61.4
89.0
96.7
8.1
8.5
7.3
9.4
9.3
1,668.1
1,728.4
1,797.4
1,916.3
1,896.6
1975
1976
1977
1978
1979
1,289.1
1,441.4
1,617.8
1,838.2
2,047.3
948.7
1,057.9
1,176.6
1,329.2
1,491.4
814.7
899.6
994.0
1,119.6
1,251.9
134.0
158.3
182.6
209.7
239.5
25.4
20.6
20.5
27.0
31.7
100.0
117.1
132.4
149.2
160.1
13.5
11.9
8.2
9.3
5.6
117.6
145.2
174.8
197.2
200.1
-11.0
-14.9
-16.6
-25.3
-43.2
-6.2
-10.1
-9.0
-10.9
-14.0
134.8
170.3
200.4
233.5
257.2
83.9
106.0
127.4
150.0
169.2
83.8
88.8
105.3
126.3
158.3
1,313.4
1,451.4
1,607.5
1,812.4
2,034.0
170.6
198.7
228.1
261.1
304.7
1,142.8
1,252.6
1,379.3
1,551.2
1,729.3
1,038.2
1,156.9
1,288.6
1,441.1
1,611.3
104.6
95.8
90.7
110.2
118.1
9.2
7.6
6.6
7.1
6.8
1,931.7
2,001.0
2,066.6
2,167.
2,212.
1980
1981
1982
1983
1984
2,203.5
2,443.5
2,518.4
2,719.5
3,028.6
1,638.2
1,807.4
1,907.0
2,020.7
2,213.9
1,372.0
1,510.4
1,586.1
1,676.2
1,838.8
266.3
297.1
320.9
344.5
375.1
20.5
30.7
24.6
12.4
30.5
160.1
156.1
150.9
178.4
204.0
6.6
13.3
13.6
13.2
8.5
177.2
188.0
150.0
213.7
266.9
-43.1
-24.2
-10.4
-10.9
-5.8
-16.8
-14.4
-9.2
17.0
32.7
237.1
226.5
169.6
207.6
240.0
152.3
145.4
106.5
130.4
146.1
200.9
248.1
272.3
281.0
304.8
2,258.5
2,520.9
2,670.8
2,838.6
3,108.7
340.5
393.3
409.3
410.5
440.2
1,918.0
2,127.6
2,261.4
2,428.1
2,668.6
1,781.1
1,968.1
2,107.5
2,297.4
2,504.5
136.9
159.4
153.9
130.6
164.1
7.1
2,214.
7.5 2,248 6
2,261.
6.8
2,331.
5.4
6.1 2,469.8
1985
1986
2,370.8
2,504.9
1,974.7
2,089.1
396.1
415.8
29.7
37.2
227.6
252.6
40.8
40.7
40.3
40.2
128.1
126.8
29.6
27.5
26.5
25.3
332.6
339.0
339.3
341.5
22.3
20.1
21.3
19.7
6.3
5.6
5.9
5.4
1,087.3
1,093.6
1,093.0
1,090.5
298.3
302.4
307.4
314.1
273.8
277.6
282.2
288.4
24.5
24.8
25.2
25.7
12.1
11.8
11.9
12.2
41.3
42.1
42.6
43.3
45.0
49.4
51.6
55.4
24.8
26.1
27.6
29.7
416.0
422.1
428.7
437.2
485.9
512.2
49.4
50.4
50.9
51.2
51.4
51.7
52.4
53.2
354.9
359.1
360.5
361.1
424.3
434.1
442.5
454.9
315.3
326.1
11.0
10.9
11.5
11.9
12.1
12.6
13.1
13.8
3,327.0
3,534.3
404.3
409.5
411.4
412.4
1961 I
II
III
IV
224.8
231.9
55.0
50.5
48.3
45.9
45.0
48.0
51.0
55.3
2,542.2
2,645.1
10.3
11.8
12.0
12.1
53.5
46.0
-.4
-.4
-.2
_ 2
0
.3
.3
.3
4.5
4.3
23.5
23.8
24.0
24.1
-.7
6.5
-.9
-.6
.5
.3
-.1
1.0
.3
-.2
127.1
130.6
270.7
273.4
273.9
273.3
277.6
284.4
53.8
49.5
48.6
46.0
2,714.1
2,891.5
294.2
297.1
297.9
297.4
9.0
16.7
15.2
15.3
15.4
15.5
15.6
15.7
15.9
16.1
2,841.1
3,022.1
1960 I
II
III
IV
3,229.9
3,422.0
425.3
425.3
425.7
423.1
364.6
370.3
376.2
383.9
342.1
346.8
349.7
357.0
22.5
23.5
26.5
26.9
6.2
6.3
7.0
7.0
1,100.8
1,117.7
1,127.4
1,146.8
1962 I
II
III
IV
464.4
470.9
475.8
482.2
320.6
326.6
329.5
333.0
293.2
298.7
301.1
304.2
27.4
27.9
28.3
28.8
12.4
12.2
12.0
12.0
43.8
44.4
44.8
44.8
16.2
16.3
16.6
16.9
57.7
57.0
58.1
60.3
.4
-.1
-.8
.5
3.0
3.0
3.2
3.2
54.3
54.0
55.7
56.6
30.5
30.5
31.4
32.3
13.8
14.4
14.8
15.3
443.7
451.4
456.1
461.5
54.5
56.4
57.8
59.3
389.2
394.9
398.3
402.2
362.0
367.9
372.2
378.9
27.2
27.0
26.1
23.4
7.0
6.8
6.6
5.8
1,158.4
1,167.8
1,174.7
1,179.8
1963 I
II
III
IV
487.9
496.8
503.8
512.6
337.9
342.7
347.7
353.9
307.9
312.3
316.8
322.2
30.0
30.3
30.9
31.7
12.1
12.1
11.9
11.6
44.9
45.3
45.9
46.8
17.0
17.2
17.0
17.2
60.3
63.5
64.7
66.0
1.0
.2
-.2
-.8
3.3
3.9
3.9
4.3
56.1
59.5
61.0
62.5
31.7
33.3
34.1
35.0
15.7
16.0
16.5
17.0
467.0
472.2
478.8
487.4
59.9
60.3
60.7
61.1
407.1
411.9
418.1
426.2
383.0
387.5
394.8
399.5
24.1
24.5
23.3
26.8
5.9
5.9
5.6
6.3
1,190.9
1,198.2
1,210.9
1,229.4
1964 I
II
III
IV
524.3
533.4
543.3
549.4
360.3
367.7
375.0
381.0
328.2
334.8
341.4
346.6
32.1
32.9
33.6
34.3
10.6
10.5
10.5
11.1
48.3
49.7
50.5
50.6
17.4
17.3
17.3
17.3
70.3
70.3
71.5
70.6
-.2
-.1
-.9
-.7
4.5
4.3
4.6
4.4
66.0
66.1
67.8
66.8
38.3
38.3
39.3
38.9
17.4
17.9
18.6
18.8
496.5
505.9
515.2
523.4
59.9
56.4
58.5
60.4
436.6
449.5
456.7
462.9
408.9
416.8
425.7
428.1
27.7
32.6
31.0
34.8
6.4
7.3
6.8
7.5
1,253.7
1,287.7
1,304.1
1,318.6
1965 I
II
III
IV
566.4
578.6
589.3
606.7
387.6
394.4
402.6
414.6
352.8
358.8
366.2
377.1
34.9
35.6
36.5
37.5
11.9
13.3
13.5
13.3
50.9
51.7
52.2
53.6
17.7
18.1
18.2
18.3
78.2
80.4
81.4
85.3
-.4
-1.1
-1.5
-1.9
73.8
76.4
77 5
82.0
44.3
46.0
46.6
49.1
20.1
20.7
21.4
21.5
534.0
544.6
558.3
571.1
64.4
65.7
64.6
66.1
469.6
478.9
493.7
505.0
438.8
446.1
455.4
469.6
30.8
32.7
38.3
35.5
6.6
6.8
7.8
7.0
1,327.1
1,346.8
1,383.2
1,405.8
1966 I
II
III
IV
627.1
636.4
647.0
657.4
426.9
438.1
449.2
457.6
385.7
395.9
406.1
413.4
41.2
42.2
43.1
44.2
15.7
14.1
13.7
12.7
54.8
55.2
55.7
56.4
18.5
18.4
18.7
18.7
88.4
86.8
85.0
86.2
-1.2
-2.7
-3.6
-1.0
4.8
5.1
5.5
5.2
5.5
5.3
5.4
5.5
84.1
84.1
83.2
81.6
50.0
50.1
49.7
48.7
22.8
23.8
24.7
25.8
583.4
593.9
606.9
619.1
69.7
74.0
76.5
79.5
513.7
519.9
530.4
539.6
480.1
485.3
494.5
499.9
33.7
34.6
35.9
39.7
6.6
6.7
6.8
7.4
1,414.3
1,422.3
1,437.4
1,451.1
1967 I
II
III
IV
662.7
669.3
682.6
696.3
463.9
469.4
479.0
489.8
418.8
423.5
431.9
441.5
45.1
45.8
47.0
48.3
12.5
12.7
13.2
12.6
57.3
58.0
59.2
59.1
19.2
19.8
19.8
19.5
83.5
82.4
83.7
86.7
-.4
-1.3
-1.7
-2.8
5.3
5.4
5.7
5.6
78.6
78.3
79.7
83.9
46.3
46.4
47.5
49.7
26.2
27.0
27.8
28.6
629.5
637.5
650.3
660.9
80.4
80.2
83.6
85.5
549.0
557.2
566.7
575.4
504.5
514.1
520.9
528.2
44.5
43.1
45.8
47.2
8.1
7.7
8.1
8.2
1,474.0
1,487.9
1,500.1
1,510.7
1935
1936
1937
1938
1939
63
SURVEY OF CURRENT BUSINESS
September 1987
Table 4.—National Income and Disposition of Personal Income—Continued
[Billions of dollars; quarterly data are seasonally adjusted at annual rates]
Proprietors'
income with
Supple- IVA and CCAdj
ments to
wages
Nonand
farm
salaries
Compensation of employees
Year and
quarter
1968: I
II...
III..
IV..
1969: I
II...
III..
IV..
1970: I
II...
III...
IV..
1971: I
II....
III..
IV...
1972: I
II....
III...
IV...
1973: I
II....
III...
IV...
1974: I
II....
III...
IV...
1975: I
II....
III...
IV...
1976: I
II....
III...
IV...
1977: I
II
III...
IV...
1978: I
II
III...
IV....
1979: I..
II....
III...
IV...
1980: I
II...
III..
IV...
1981: I
II...
III...
IV...
National
income
Total
Wages
and
salari<
Rental
income
of
person!
with
CCAdj
Corporate profits with IVA and CCAdj
Total
713.0
732.4
748.0
762.9
504.5
518.0
531.9
544.5
454.
465.9
478.3
489.4
50.4
52.
53.
55.
12.6
12.'
12.9
13.1
60.6
62.3
63.6
64.0
18.7
18.5
18.3
18.
87.5
91.3
91.5
92.1
777.1
792.0
808.1
815.2
556.6
570.587.599.1
499.0
511.3
526.4
536.4
57.6
59.
61.C
62.
12.8
14.
14.9
16.3
64.6
65.0
65.1
64.0
18.2
18.7
18.5
18.2
92.3
81.2
818.8
829.5
841.0
840.9
609.5
615.0
623.4
625.2
545.0
549.0
555.6
556.3
64..
66.0
67.8
69.0
14.9
14.1
64.1
64.7
65.9
67.1
18.0
18.1
17.8
18.7
73.5
76.9
76.6
71.8
872.7
890.6
905.:
923.9
642.2
654.1
664.5
676.
570.1
580.2
588.6
598.9
72.2
73.9
75.9
77.7
14.'
15.5
15.0
16.5
68.2
70.5
72.3
74.4
18.3
18.8
18.7
18.5
956.3
973.4
1,002.5
1,044.3
701.4
716.9
731.:
755.4
617.8
630.4
642.3
664.
83.6
86.5
88.9
91.3
15.2
18.1
19.
24.8
75.8
76.8
80.3
82.9
1,084.3
1,104.6
1,132.3
1,169.6
783.5
802.4
821.4
844.0
683.:
700.0
716.1
735.3
100.3
102.4
105.3
108.7
24.7
32.4
35.2
42.5
1,178.5
1,190.6
1,216.5
1,228.2
861.7
882.1
904.4
917.0
748.1
765.2
783.0
792.4
113.6
117.0
121.4
124.6
34.7
23.2
25.0
27.2
1,228.6
1,256.5
1,315.5
1,355.6
919.4
931.0
957.2
987.1
791.8
800.2
821.2
845.6
127.7
130.7
136.1
141.5
1,403.4
1,425.6
1,452.7
1,483.9
1,021.7
1,045.1
1,069.1
1,095.6
871.1
889.2
908.3
929.8
1,533.5
1,596.9
1,654.8
1,685.9
1,124.0
1,160.5
1,192.7
1,229.3
1,724.4
1,821.4
1,870.3
1,936.9
IVA
—4'
-3J
Profits Profits
CCAdj before after
tax
tax
5.5
5,
5.2
5.2
91.6
Net
interest
in
Person
Equals: >a\nng DPI
conPerson al tax Equals: Person- Personpercentstant
and
al
al
al
DPI
(1982)
income nontax
outlays saving age of dollars
payments
48.
49'.6
49.8
51.0
29 I
29.7
29.9
30.5
679.6
699.'
717.2
732.
92.2
102.8
107.3
591..1
607.5
614.3
625.2
546.3
560.2
576.5
585.5
45.0
47.3
37.8
39.8
6.2
1.530.5
1,554.7
1,555.1
1,565.1
5.8
6.1
6.2
6.1
91.4
88.6
85,
49.9
48.3
46.6
45,
32.5
34.0
35.J
36.^
745i
764.5
783.7
798.2
114.0
117.
115.9
117.7
631
647.0
667.7
680.5
597.6
609.2
619.5
631.5
33.9
37.8
48.2
48.9
-4.6
-6.2
-6.6
5.8
5.3
5.0
4.7
76.5
76.2
77.8
73.6
42.2
42.0
42.5
40.1
38.0
40.4
42.5
44.0
829.6
840.3
848.9
117
118.5
113.9
115.2
691.1
711.1
726.5
733.'
642.7
652.9
664.7
671.1
48.
58.2
61.7
62.5
84.1
85.8
87.8
90.6
-3.6
-4.'
-5.6
-4.5
4.2
4.3
4.5
4.4
83.5
90.7
46.:
47.8
51.3
52.8
45.1
46.0
46.8
47.3
866.9
889.
901.9
918.0
112.
115.3
117.7
123.6
754.5
774.1
784.2
794.4
690.0
703.9
715.9
732.0
64.4
70.3
68.3
62.4
1,708.1
1,731.9
1,734.2
1,739.6
19.4
15.4
18.1
18.5
96.5
96.8
101.4
108.0
-5.8
-5.8
-5.8
-9.0
5.3
5.1
6.1
6.8
97.0
97.6
101.1
110.2
56.8
57.3
59.
64.
47.9
49.5
52.0
54.6
945.6
961.9
987.8
1,031.0
138,
140.'
142.
146.3
807.2
821.2
845.3
884.6
749.1
767.4
785.1
810.1
58.1
53.8
59.6
73.9
1,750.9
1,767.6
1,801.5
1,869.4
86.2
83.9
85.2
86.0
18.4
17.3
17.8
18.4
114.7
111
112.4
114.7
-16.1
-21.'
-19.0
-23.4
5.9
5.6
6.8
124.3
127.3
125.8
131.3
75.2
77.5
77.8
80.9
56.7
57.1
60.3
64.1
1,057.1
1,084.1
1,113.4
1,152.2
146.1
148.1
153.5
160.2
911.0
936.1
959.9
992.1
835.3
850.:
869.8
887.1
75.'
85.2
90.1
105.0
1,893.2
1,907.6
1,922.2
1,942.1
87.6
90.2
93.4
94.0
18.7
16.6
15.6
13.6
106.3
104.2
100.7
95.5
-33.0
-38.3
-51
-35.0
5.6
3.8
1.7
-2.0
133.'
138.'
150.6
132.5
85.0
87.4
93.,
82.4
69.4
74.2
77.5
81.0
1,169.9
1,191.6
1,228.:
1,250.6
163.3
169.5
175.'
178.
1,006.5
1,022.1
1,052.8
1,072.0
904.7
932.8
960.7
968.4
101.8
89.2
92.1
103.6
8.7
8.8
9.7
1,907.2
1,888.3
1,898.6
1,892.4
21.9
23.0
28.6
28.2
95.4
97.4
101.6
105.4
13.1
13.9
13.5
13.6
96.6
108.2
129.7
136.1
-12.7
-7.;
-12.2
-11.7
-4.3
-5.7
-6.9
-8.1
113.5
121.1
148.7
156.0
71.1
75.6
91.7
97.3
82.3
83.0
84.9
85.2
1,260.0
1,292.0
1,332.1
1,369.4
179.6
143.'
176.4
182.'
1,080.4
1,148.3
1,155.7
1,186.7
992.7
1,021.6
1,055.0
1,083.3
87.7
126.7
100.7
103.4
8.1
11.0
8.7
8.7
1,873.1
1,965.7
1,935.0
1,953.1
150.6
155.9
160.8
165.8
23.3
20.9
20.0
18.1
111.4
115.2
117.7
124.0
13.4
12.2
11.2
10.7
148.3
144.3
145.0
143.2
-11.6
-15.5
-15.9
-16.6
-9.4
-10.6
-10.5
-9.9
169.4
170.;
171.4
169.8
104.3
106.0
107.1
106.7
85.2
88.0
89.7
92.3
1,405.2
1,431.8
1,465.7
1,502.8
187.2
195.0
202.5
210.3
1,218.0
1,236.8
1,263.2
1,292.5
1,118.3
1,138.2
1,167.6
1,203.3
99.7
98.6
95.6
89.2
8.2
8.0
7.6
6.9
1,983.1
1,992.8
2,005.9
2,022.2
949.9
980.8
1,007.3
1,038.0
174.1
179.8
185.3
191.3
20.3
19.4
21.9
20.3
127.3
131.2
134.1
137.2
10.0
8.6
8.3
5.9
153.5
175.0
189.7
181.1
-22.3
-16.0
-10.6
-17.7
-9.6
-9.3
-8.1
-8.9
185.4
200.3
208.4
207.7
118.4
127.1
132.5
131.7
98.5
102.3
108.1
112.1
1,541.0
1,583.2
1,631.4
1,674.3
223.1
224.2
227.4
237.8
1,317.9
1,359.0
1,404.0
1,436.4
1,241.5
1,270.0
1,302.1
1,340.9
76.4
88.9
101.9
95.6
5.8
6.5
7.3
6.7
2,026.9
2,049.6
2,086.9
2,102.8
1,263.8
1,311.5
1,348.8
1,392.8
1,063.0
1,104.6
1,136.6
1,174.0
200.8
206.9
212.2
218.7
22.0
30.0
26.6
29.6
139.8
148.9
152.3
155.7
7.5
8.2
10.8
10.6
174.0
199.1
203.5
212.2
-21.2
-24.5
-25.1
-9.7
-10.6
-11.7
-11.8
204.9
234.2
240.3
254.4
133.9
149.0
153.8
163.1
117.3
123.7
128.2
136.1
1,716.5
1,788.2
1,842.2
1,902.7
241.6
253.8
268.5
280.6
1,474.9
1,534.3
1,573.6
1,622.1
1,367.3
1,427.7
1,463.1
1,506.1
107.6
106.6
110.5
116.0
7.3 2,128.2
6.9
2,162.
7.0 2,176 4
7.1 2,202 0
1,986.7
2,023.2
2,072.1
2,107.1
1,438.1
1,469.6
1,508.4
1,549.5
1,208.1
1,233.7
1,266.0
1,300.0
230.0
235.9
242.4
249.5
34.2
35.2
31.9
25.8
157.1
159.6
162.3
161.6
4.0
3.6
6.8
204.8
204.1
201.9
189.5
-35.3
-40.8
-46.2
-50.4
-12.9
-14.0
-14.1
-14.9
253.0
258.9
262.3
254.7
164.0
169.7
173.8
169.5
144.2
150.8
164.1
174.0
1,954.6
1,998.6
2,063.7
2,119.0
288.0
297.1
310.8
322.7
1,666.6
1,701.5
1,752.9
1,796.3
1,543.7
1,581.2
1,635.3
1,684.8
122.8
120.3
117.6
111.5
7.4
7.1
6.7
6.2
2,216.
2,206.
2,213.
2,213.
2,161.9
2,150.5
2,201.0
2,300.8
1,590.4
1,611.8
1,643.5
1,707.2
1,332.9
1,349.2
1,375.4
1,430.3
257.5
262.5
268.1
276.9
18.0
12.1
22.5
29.5
162.8
155.3
159.5
163.0
6.4
4.3
6.3
9.4
193.1
169.2
169.8
176.6
-58.7
-29.1
-41.1
-43.5
-15.1
-16.4
-17.6
-17.9
267.0
214.8
228.5
238.1
170.4
140.7
147.8
150.2
191.1
197.8
199.5
215.0
2,181.0
2,202.3
2,278.5
2,372.3
323.4
332.5
344.4
361.9
1,857.6
1,869.8
1,934.1
2,010.3
1,730.4
1,736.9
1,797.6
1,859.4
127.3
132.9
136.5
150.9
2,225.
2,185.
2,207.
2,238.
2,388.4
2,415.2
2,483.1
2,487.2
1,759.1
1,789.7
1,827.3
1,853.6
1,468.7
1,495.5
1,528.1
1,549.0
290.3
294.2
299.1
304.5
33.4
32.1
33.7
23.5
161.9
156.7
155.5
150.3
10.6
12.3
14.3
15.9
194.7
184.3
192.1
180.7
-34.8
-23.4
-20.5
-18.0
-13.5
-14.2
-14.5
-15.3
243.0
222.0
227.1
214.0
154.3
141.8
144.4
141.0
228.8
240.1
260.3
263.2
2,440.8
2,484.5
2,567.5
2,590.9
375.2
388.7
405.6
403.9
2,065.6
2,095.8
2,162.0
2,187.0
1,913.4
1,948.8
1,994.9
2,015.5
152.2
147.0
167.0
171.6
6.9
7.1
7.1
7.5
7.4
7.0
7.7
7.8
1982: ]
II...
III..
IV..
2,483.1
2,514.0
2,528.4
2,548.2
1,879.2
1,899.3
1,918.4
1,931.1
1,566.1
1,580.1
1,594.6
1,603.7
313.1
319.2
323.8
327.4
23.3
23.6
22.9
28.5
143.0
149.4
151.7
159.8
14.8
11.9
12.0
15.8
149.9
149.6
154.3
146.1
-7.7
-10.3
-10.0
-13.4
-14.1
-11.1
-7.3
-4.5
171.7
171.0
171.6
164.1
107.5
107.0
107.3
104.3
273.0
280.2
269.1
266.9
2,614.3
2,655.9
2,683.6
2,729.2
407.1
414.1
405.0
411.1
2,207.2
2,241.8
2,278.6
2,318.1
2,052.2
2,080.1
2,122.6
2,174.9
155.0
161.7
156.0
143.1
7.0
2,245.
7.2 2,260 9
6.8
2,263.
6.2
2,276.
II...
III..
IV..
2,599.1
2,685.5
2,741.8
2,851.5
1,958.8
1,995.0
2,036.3
2,092.7
1,622.2
1,653.3
1,689.9
1,739.4
341.7
346.4
353.4
18.1
15.9
-3.5
19.3
165.9
176.4
183.0
188.6
13.8
15.4
11.2
12.4
170.6
207.0
228.9
248.5
-5.9
-10.6
-19.0
-8.1
6.7
15.8
20.5
25.1
169.7
201.8
227.5
231.5
110.6
126.6
141.0
143.4
272.1
275.8
285.9
290.2
2,753.1
2,812.6
2,846.8
2,941.8
407.4
417.1
403.6
413.9
2,345.7
2,395.4
2,443.2
2,527.9
2,206.2
2,274.4
2,326.7
2,382.5
139.5
121.1
116.4
145.4
5.9
5.1
4.8
5.8
2,288.4
2,311.
2,335.
2,392.7
1984: I
II...
III..
IV...
2,962.1
3,009.0
3,047.3
3,096.1
2,152.9
2,195.2
2,234.9
2,272.7
1,784.2
1,822.0
1,858.1
1,891.1
368.7
373.2
376.8
381.7
44.3
26.1
23.3
28.1
197.1
202.0
207.5
209.7
12.3
9.3
6.9
5.6
262.7
275.5
262.6
266.9
-15.5
-5.0
-1.1
-1.6
24.5
29.0
35.2
42.3
253.7
251.4
228.5
226.1
152.5
151.2
141.4
139.2
292.8
301.0
312.2
313.1
3,034.1
3,074.8
3,137.8
3,188.3
422.3
432.1
446.7
459.7
2,611.8
2,642.8
2,691.1
2,728.6
2,430.7
2,490.0
2,525.9
2,571.3
181.1
152.8
165.2
157.3
6.9
5.8
6.1
5.8
2,446.
2,456.6
2,479.2
2,496.3
1985: I
II....
III...
IV...
3,156.5
3,204.4
3,254.4
3,304.4
2,314.9
2,351.5
2,386.3
2,430.5
1,926.5
1,957.6
1,987.9
2,026.7
388.4
393.9
398.4
403.8
31.7
32.2
22.9
31.7
220.4
224.2
229.5
236.3
7.3
9.1
9.3
10.1
265.6
274.2
292.8
277.8
-1.5
1.8
6.5
-9.8
49.5
54.4
56.0
54.2
217.6
218.0
230.2
233.5
123.6
124.8
129.7
134.4
316.5
313.2
313.7
317.9
3,259.2
3,304.4
3,338.2
3,406.4
497.0
455.9
491.0
499.7
2,762.2
2,848.4
2,847.2
2,906.6
2,631.0
2,685.6
2,751.5
2,788.1
131.2
162.8
95.7
118.5
2,506.8
2,558.4
2,538.2
2,565.5
1986: I
II....
III...
IV..
3,364.2
3,414.1
3,438.7
3,471.0
2,464.8
2,487.6
2,515.1
2,552.0
2,055.3
2,074.6
2,097.9
2,128.5
409.5
413.0
417.2
423.5
28.0
48.1
36.3
36.6
242.8
250.1
256.2
261.2
14.0
17.4
17.2
18.4
288.0
282.3
286.4
281.1
17.8
11.3
6.0
-8.9
51.3
46.7
44.0
42.1
218.9
224.4
236.3
247.9
120.9
122.3
130.2
134.0
326.6
328.7
327.5
321.7
3,463.4
3,526.6
3,553.6
3,593.6
497.4
504.2
515.3
532.0
2,966.0
3,022.4
3,038.2
3,061.6
2,827.6
2,856.4
2,929.4
2,952.6
138.4
166.0
108.9
109.0
2,610.5
2,660.2
2,653.2
2,656.7
-4.9
-5.2
-4.!
NOTE.—IVA=Inventory valuation adjustment; CCAdj=Capital consumption adjustment; DPI = Disposable personal income.
1,566.4
1,584.7
1,617.5
1,630.6
7.0
1,638.0
1,666.2
1,686.2
1,682.1
2,242 9
2,235 0
2,262 9
2,253 7
SURVEY OF CURRENT BUSINESS
64
September 1987
Constant-Dollar Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and
Trade: Revised Estimates
The constant-dollar inventories, sales, and inventory-sales ratios have
been revised beginning with 1984 to incorporate new source data. Revised constant-dollar inventories through the first quarter of 1987 are
consistent with the revised inventory estimates in the July 1987 issue of
the SURVEY OF CURRENT BUSINESS. Tables 1, 2, and 3 present quarterly
and monthly constant-dollar inventories, sales, and inventory-sales
ratios, respectively. Table 4 presents quarterly fixed-weighted constantdollar inventory-sales ratios, i.e., ratios obtained by weighting detailed
industry ratios by 1982 sales. Table 5 presents quarterly and monthly inventories for manufacturing by stage of fabrication. Quarterly constant-
dollar manufacturing and trade inventories, sales, and inventory-sales
ratios were published for 1976-82 in the February 1986 SURVEY, and for
1983 in the September 1986 SURVEY. Quarterly and monthly constantdollar manufacturing and trade inventories, sales, and inventory-sales
ratios for 1967-86, and constant-dollar manufacturing inventories by
stage of fabrication for 1959-86, are available in hard copy at a cost of
$50.00 from the National Income and Wealth Division (BE-54), Bureau of
Economic Analysis, U.S. Department of Commerce, Washington, DC
20230.
Table 1.—Manufacturing and Trade Inventories in Constant Dollars, Seasonally Adjusted, End of Period
[Billions of 1982 dollars]
1984
I
II
1987
1985
III
IV
I
II
III
IV
I
II
III
IV
I
II
Feb. Mar. Apr.
May June
July
649.5 649.5
Manufacturing and trade
Manufacturing
Durable goods..
Primary metals
Fabricated metals
Machinery, except electrical..
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable £
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products ..
Petroleum and coal products
Rubber and plastic products
Other nondurable goods 2
Jan.
202.5
23.7
22.4
45.3
32.3
45.1
10.1
35.0
33.6
112.9
23.1
89.8
9.4
25.3
16.6
7.4
31.2
207.5
24.2
22.8
46.3
33.5
46.5
10.4
36.1
34.3
115.1
23.3
91.8
9.6
26.1
16.9
7.7
31.5
318.3 318.7 319.3 317.2
319.6
329.2 330.0 329.4 327.5 325.2 322.2 321.0 320.2
205.1 206.7 206.5 205.5 206.5 206.8 205.1 207.0
213.1 215.8 215.8 214.6 213.4 210.4 209.3 208.2
18.1
18.0
18.2
19.1 18.6 18.5 18.4
19.0 19.1 18.5 18.0
24.2 23.5 22.9 22.1 21.6 21.0 20.6 20.0
22 7
22.9 23.3 23.3 23.0 23.0 23.3 23.0 23.1 22.9 22.5 22.8 22.5 22.8 22.8 22.8 22.8 22.7 22.5
4L6
41.2
42.0
41.8
41.5
41.9
42.0
41.2
41.5
43.1
44.5
45.4
46.8
43.0 42.1
47.8 48.6 48.3 47.5
36.9
35.1 36.2 36.5 36.8 36.4 35.7 35.8 36.6 36.9 36.6 36.7 36.9 36.7 36.8 36.7 36.9 37.0 36.9
52.4
48.3 49.3 49.4 49.9 50.4 50.2 51.0 51.2 51.0 50.3 51.2 51.6 51.1 51.4 51.2 51.6 51.8 51.6
11.0
11.0
11.2
11.2
11.0 11.2 11.3 11.4
11.4
10.7
10.5 10.6
10.9 11.0 11.1 10.9
10.8 11.1 10.9
41.4
37.5 38.2 38.5 39.1 39.4 39.1 40.1 40.5 40.5 39.7 39.8 40.6 40.0 40.1 39.8 40.4 40.5 40.6
35.3
34.8 35.0 35.5 35.3 35.2 34.8 34.5 34.2 34.3 34.6 34.9 35.0 35.0 35.0 34.9 35.0 35.1 35.0
112.2 112.5 112.1 112.3
116.2 114.2 113.6 112.9 111.9 111.8 111.6 112.1 111.2 111.7 112.8 112.1 112.9 112.8
23.1 22.9 22.9 23.2 23.2 23.0 23.2 23.4 23.2 23.5 23.6 24.3 23.7 23.6 23.6 23.7 23.9 24.3 23.9
88.4
93.1 91.3 90.7 89.7 88.7 88.8 88.5 88.7 88.0 88.2 89.2 87.8 89.2 89.2 89.2 88.5 88.6 87.8
10.3
10.3 10.4 10.4 10.4 10.4 10.4
9.9
10.0 10.0 10.3 10.3 10.4 10.4
9.8
10.0
9.8
9.8
9.9
27.4
26.8 26.2 26.0 26.2 26.3 25.9 26.1 26.6 27.0 28.0 27.6 27.0 28.2 28.1 27.6 27.4 27.4 27.0
13.1
13.7 13.3 13.2 13.2
13.2 13.4 13.4
15.0 14.1 13.6 13.7
15.4
14.9
14.9
16.3 15.9
16.9 16.4
7.9
7.9
8.0
8.0
8.1
8.1
8.1
8.1
7.9
7.7
7.8
7.6
7.7
7.7
7.6
7.6
7.6
7.6
7.7
29.5 29.5 29.5 29.3 29.7
31.7 31.2 30.8 30.2 30.1 29.9 29.8 29.2 28.9 28.6 29.5 29.3 29.2
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
135.0 137.6 141.8 143.3 144.6 146.6 147.1 147.8
88.4 90.2 93.1 94.2 94.7 94.9 94.6 94.6
46.5 47.4 48.7 49.1 49.9 51.7 52.5 53.1
15.8 16.0 16.5 16.5 17.0 17.4 18.1 18.7
30.8 31.5 32.2 32.6 32.9 34.3 34.4 34.5
149.4 150.5
95.7 96.9
53.7 53.6
19.2 19.6
34.5 34.0
98.0
54.7
19.3
35.4
96.6
54.9
18.4
36.6
Retail trade
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods..
148.0 151.0 152.9 157.8 159.5 161.2 163.3 168.2 174.2 175.1
69.2 70.4 71.5 75.5 77.2 78.7 79.7 83.7 88.9
32.4 32.4 33.2 35.7 36.8 37.8 37.7 41.5 45.3 45.6
36.8 38.0 38.3 39.8 40.4 40.9 42.0 42.2 43.6 44.2
78.8 80.5 81.4 82.4 82.3 82.4 83.6 84.5 85.3 85.3
17.5 17.9 17.8
16.1 15.9 16.3 16.6 16.9 17.4
15.7
63.1 64.4 65.4 66.0 65.7 65.5 66.2 67.1 67.4 67.5
86.7
41.2
45.5
86.4
18.0
68.4
87.3
42.2
45.0
87.5
17.9
69.7
97.7
54.7
18.1
36.6
99.3
55.5
19.2
36.3
152.7 152.6
97.6 97.0
55.1 55.5
18.9 18.7
36.3 36.8
181.1 185.0 177.2
92.0 94.4 89.4
47.5 48.3 44.8
44.4 46.1 44.6
89.1 90.6 87.8
18.1 17.9 17.9
71.0 72.6 70.0
89.4
45.2
44.3
88.2
18.1
70.2
152.5 154.1 154.8 153.4
98.2 99 9 99.3 99.0
54.4
54.7 54.3 54.2 55.5
18.2
18.8 19.2
18.1 18.7
36.6 35.7 35.4 36.3 36.2
92.0
47.5
44.4
89.1
18.1
71.0
181.4 182.3 185.0
91.1 92.8 94.4
46.5 47.2 48.3
44.6 45.5 46.1
90.3 89.6 90.6
18.1 17.9 17.9
72.6
72.3 71
185.0
94.1
48.3
45.8
90.9
17.9
73.0
See footnotes to table 4.
Table 2.—Manufacturing and Trade Sales in Constant Dollars, Seasonally Adjusted Total at Monthly Rate
[Billions of 1982 dollars]
1984
I
Manufacturing and trade
II
IV
I
II
III
IV
I
II
1987
1987
1986
1985
III
III
IV
I
II
Jan.
Feb.
Mar.
Apr.
May
June J u l y "
391.7 397.7 399.6 403.4 405.5 409.4 413.0 414.0 415.0 420.2 428.6 431.5 432.3 434.1 422.4 438.5 435.9 434.3 433.2 435.0
436.8
Manufacturing
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods '
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods *
181.4 182.5 184.1 186.2 185.7 186.4 187.3 189.4 188.5 190.5 190.9 193.2 194.4 194.3 191.7 196.7 195.0 193.9 193.8 195.3 196.1
92.9 93.0 94.7 97.0 96.6 97.0 98.1 99.4 98.0 98.1 98.2 99.8 100.5 100.0 97.6 102.4 101.4 100.0 99.6 100.4 100.4
9.1
8.8
8.6
8.6
8.3
8.5
8.0
8.7
8.2
8.3
8.4
8.6
8.8
8.8
9.0
9.0
8.9
9.2
9.4
9.6
9.7
10.5
11.2 11.0 10.8 10.5 10.6
10.9 10.8 10.8 10.8 10.7 10.4
11.1 11.0 10.9 11.0 10.9 10.9 11.3 11.3 10.7
22.2
18.3 19.0 19.9 20.6 20.7 21.9 21.6 22.2 21.0 21.4 21.0 20.9 20.5 21.2 19.9 20.8 20.9 21.2 21.0 21.3
17.2
17.2
16.4 16.9
16.6 16.7
14.9 15.6 15.3 15.6 16.2 16.6 16.5 16.8 16.0
14.7
14.1 14.6 14.9 15.1 14.7
21.4
22.3 21.3 21.8 23.2 23.7 22.6 23.5 24.1 24.0 23.4 23.5 24.7 25.2 23.4 24.4 26.1 25.1 23.9 23.5 23.0
12.3
13.8
15.8 17.4 15.6 15.0 14.4
14.7 15.3 16.3 14.4
15.3 15.6 14.7
14.8 13.6 13.9 15.1 15.3 14.1 14.7
9.0
9.2
9.1
8.8
9.5
8.6
8.6
9.0
8.9
9.4
8.7
8.4
8.8
8.7
7.7
8.9
8.4
8.2
7.9
7.5
8.4
20.0
19.5 19.1 19.0 19.4
19.2 18.9 19.4
17.4
18.2 18.3 18.3 18.5 19.2
17.4 17.6 17.7 17.9 17.8 18.0 17.7
95.6
88.6 89.4 89.4 89.2 89.2 89.5 89.3 90.1 90.5 92.4 92.7 93.4 94.0 94.3 94.1 94.2 93.6 93.9 94.2 94.9
26.4
23.2 23.6 23.7 24.1 24.3 24.4 24.5 24.3 24.5 24.8 25.1 25.3 25.6 25.6 25.8 25.6 25.4 25.9 25.4 25.6
69.2
65.4 65.9 65.7 65.1 64.8 65.0 64.8 65.8 66.0 67.6 67.6 68.1 68.4 68.7 68.3 68.7 68.2 67.9 68.8 69.3
9.1
8.8
8.6
8.5
8.5
8.6
8.4
8.6
8.5
8.5
8.3
8.0
7.7
7.5
7.3
7.3
7.3
7.4
7.4
7.5
7.4
16.9
16.5 16.2 16.8 17.0 16.7
15.9 15.9 16.1 16.5 16.9 16.7
15.4 15.6 15.7
15.7
15.7
15.8 16.1 16.1 15.9
18.4
18.2 17.8 17.5 18.0 17.8
17.8 17.7 17.6 17.5 17.6 17.6 17.9 18.1 19.3 19.3 19.0 18.3 17.8 18.8
17.7
5.9
6.3
6.3
6.3
6.5
6.5
6.1
6.3
6.3
5.8
5.7
5.9
5.8
5.8
5.7
5.7
5.8
5.7
5.7
5.5
5.4
18.9
19.1 19.0 18.8 18.6 18.6 18.7 18.8 18.9 18.6 18.6 18.4 18.8 18.8 19.1 18.2 19.0 19.3 18.8 19.0 19.6
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
105.6 108.5 109.3 109.2 110.4 111.7 112.0 112.1 112.4 113.0 117.4 118.7 121.3 122.2 117.3 123.5 123.0 122.6 122.2 121.7
46.7 48.6 48.8 48.5 49.1 49.4 49.5 50.5 50.5 51.6 52.2 53.2 54.0 54.9 51.9 55.1 55.1 54.5 54.7 55.3
58.9 59.9 60.5 60.8 61.2 62.4 62.5 61.6 61.9 61.5 65.2 65.5 67.2 67.3 65.3 68.4 67.9 68.1 67.5 66.3
25.2 25.5 25.8 26.0 25.7 25.8 25.1 25.3 25.7 25.5 26.8 26.3 27.0 27.1 26.7 27.3 26.9 27.5 26.8 26.9
33.7 34.3 34.7 34.8 35.6 36.6 37.4 36.3 36.2 36.0 38.4 39.2 40.2 40.3 38.6 41.1 41.0 40.6 40.7 39.5
122.1
55.6
66.5
27.1
39.5
Retail trade
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
104.7 106.8 106.2 108.0 109.4 111.3 113.7 112.5 114.1 116.7 120.3 119.6 116.6 117.7 113.4 118.3 118.0 117.8 117.1 118.0
37.7 38.8 38.1 39.8 40.5. 41.9 43.7 42.4 43.1 44.6 48.2 47.2 44.3 45.7 42.0 45.3 45.7 45.7 45.2 46.1
22.3 22.9 22.0 23.3 23.9 24.9 26.3 24.4 24.4 25.2 28.2 27.1 24.1 25.7 21.9 24.9 25.5 25.7 25.3 26.2
19.4 20.0 20.2 20.2 20.0 20.1 20.4 20.2 20.0 20.0 20.0
18.0 18.7
16.6 17.1 17.4
15.3 15.9 16.1 16.4
67.0 68.0 68.0 68.2 68.8 69.3 69.9 70.1 71.0 72.1 72.1 72.3 72.2 72.0 71.4 73.0 72.3 72.1 71.9 71.9
21.3 21.7 21.8 21.8 22.0 22.3 22.5 22.6 22 9 22.8 22.4 22.5 22.5 22.3 22.3 22.6 22.5 22.4 22.2 22.1
49.3 49.7 49.8 49.8 49.7 49.1 50.5 49.8 49.7 49.7 49.8
45.7 46.3 46.3 46.4 46.8 47.0 47.5 47.5 48J
118.6
46.4
26.3
20.1
72.2
22.2
50.0
See footnotes to table 4.
SURVEY OF CURRENT BUSINESS
September 1987
65
Table 3.—Constant-Dollar Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on 1982 dollars]
1986
1987
Jan.
II
III
1.67
2.11
2.27
2.12
2.05
2.27
2.16
.71
4.55
1.88
1.64
2.06
2.29
2.09
2.02
2.20
2.04
.70
4.23
1.87
1.64
2.05
2.25
2.10
2.02
2.23
2.03
.70
4.47
1.81
1.63
2 05
2.08
2.11
1.95
2.19
2.20
.77
4.49
1.82
1.67
2.12
2.40
2.19
2.11
2.29
2.10
.71
4.66
1.86
Feb.
Mar.
1.48
1.50
1.62
2.02
2.20
2.04
2.02
2 22
1.97
.65
4.65
1.80
2.03
2.24
2.08
1.99
2.19
2.04
.74
4.19
1.79
1.64
2.07
2.16
2.10
1.97
2.25
2.16
.75
4.58
1.83
1.65
2.08
2.11
2.16
2.00
2.19
2.21
.78
1.63
2 04
2.04
2.12
1.93
2.15
2.24
.80
4.42
1.63
2.06
1.98
2.16
1.87
2.14
2.45
.89
4.59
1.77
Manufacturing and trade
Manufacturing
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Transportation equipment
Motor vehicles
Other
Other durable goods 1
Nondurable goods
Food and kindred products
Nonfood
Paper and allied products
Chemicals and allied products
Petroleum and coal products...
Rubber and plastic products....
Other nondurable goods 2
Merchant wholesalers
Durable goods
Nondurable goods
Groceries and farm products
Other nondurable goods
Retail trade
Durable goods
Auto dealers
Other durable goods
Nondurable goods
Food stores
Other nondurable goods
1.63
Apr.
May
June
July
2.23
2.51
2.08
2.45
2.29
2.19
.77
4.70
1.95
1.79
2.25
2.57
2.09
2.40
2.35
2.21
.77
4.75
1.96
1.77
2.23
2.55
2.12
2.36
2.40
2.12
.74
4.68
1.96
1.77
2.24
2.58
2.13
2.34
2.49
2.09
.71
4.59
2.00
1.76
2.21
2.47
2.12
2.17
2.49
2.21
.77
4.64
1.97
1.74
2.18
2.40
2.04
2.17
2.43
2.15
.75
4.51
1.98
2.12
2.39
2.07
2.05
2.29
2.08
.73
4.44
2.00
2.14
2.35
2.14
2.12
2.34
2.13
.70
4.76
1.89
1.68
2.12
2.32
2.11
2.02
2.35
2.19
.73
4.68
1.87
1.28
1.00
1.37
1.26
1.60
.94
1.37
1.63
1.29
.99
1.39
1.28
1.63
.95
1.39
1.66
1.30
.98
1.42
1.33
1.67
.95
1.36
1.69
1.28
.95
1.40
1.34
1.65
.93
1.34
1.68
1.27
.94
1.40
1.38
1.66
.93
1.31
1.65
1.26
.95
1.38
1.35
1.67
.90
1.33
1.62
1.25
.95
1.37
1.35
1.70
.85
1.34
1.60
1.24
.95
1.35
1.32
1.66
.86
1.32
1.58
1.23
.94
1.34
1.29
1.66
.82
1.34
1.60
1.21
.94
1.31
1.26
1.68
.78
1.32
1.58
1.20
.93
1.30
1.23
1.70
.73
1.36
1.57
1.20
.93
1.30
1.21
1.74
.72
1.35
1.52
1.20
.92
1.31
1.23
1.68
.75
1.27
1.57
1.19
.95
1.28
1.21
1.60
.75
1.25
1.53
.92
1.31
1.23
1.69
.71
1.32
1.60
1.20
.93
1.30
1.22
1.70
.74
1.25
1.54
1.21
.93
1.31
1.23
1.71
.77
1.25
1.53
1.20
.91
1.30
1.22
1.63
.76
1.27
1.56
1.19
.94
1.29
1.22
1.61
.74
1.27
1.55
1.18
.95
1.27
1.18
1.61
.74
1.24
1.50
1.17
.91
1.28
1.13
1.62
.71
1.34
1.57
1.28
1.89
.79
.63
.91
1.91
.81
.64
.93
1.94
.81
.64
.94
1.93
.82
.66
.93
1.92
.83
1.91
.84
.72
.92
1.87
.86
.74
.95
1.90
.87
.75
.95
1.88
.87
.77
.95
1.30
1.88
.84
.72
.92
1.24
1.86
.79
.63
.92
1.82
.84
.70
1.81
.81
.67
.91
1.81
.82
.71
.90
1.88
.84
.71
.94
1.76
.81
.68
.90
1.78
.81
.67
.89
1.24
1.80
.80
.68
.88
1.83
.80
.70
.87
1.80
.84
.71
.92
1.26
1.78
.82
.67
.92
1.18
.74
1.46
1.91
1.54
2.43
1.20
.76
1.40
1.88
1.52
2.39
1.19
.76
1.39
1.82
1.43
2.41
1.20
.77
1.40
1.50
1.97
1.70
2.34
1.21
.77
1.41
1.53
2.06
1.85
2.34
1 20
.78
1.40
1.50
2.01
1.81
2.28
1.18
.78
1.37
1.44
1.80
1.46
2.28
1.20
.80
1.38
1.46
1.85
1.56
2.24
1.21
.79
1.40
1.55
1.18
.74
1.46
1.90
1.53
2.42
1.21
.75
1.42
1.44
1.82
1.42
1.44
1.88
1.51
2.38
1.20
.73
1.41
1.45
1.84
1.45
1.57
2.07
1.88
2.31
1.26
.81
1.46
1.56
2.13
2.05
2.22
1.23
.80
1.43
1.82
2.17
1.21
2.01
1.86
2.20
1.23
.81
1.43
1.54
1.99
1.81
2.23
1.25
.81
1.46
2.05
1.87
2.28
1.25
.81
1.44
2.05
1.84
2.31
1.26
.81
1.46
1.56
2.03
1.84
2.28
1.26
.81
1.46
1.74
1.77
2.18
2.45
2.03
2.47
2.29
2.03
.68
4.69
1.93
1.31
2.07
1.97
2.20
1.23
.81
1.43
See footnotes to table 4.
Table 4.—Fixed-Weighted Constant-Dollar Inventory-Sales Ratios for Manufacturing and Trade, Seasonally Adjusted
[Ratio, based on 1982 dollcirs]
1984
I
II
IV
I
II
1987
1986
1985
in
III
IV
I
II
III
IV
I
II
1.49
1.52
1.52
1.54
1.55
1.55
1.53
1.52
1.52
1.54
1.52
1.49
1.47
1.50
1.76
1.78
1.79
1.78
1.78
1.76
1.74
1.70
1.72
1.70
1.68
1.66
1.67
1.64
Durable goods
Nondurable goods
2.28
1.27
2.30
1.29
2.32
1.30
2.31
1.29
2.32
1.28
2.28
1.27
2.24
1.26
2.19
1.25
2.23
1.25
2.19
1.23
2.17
1.23
2.12
1.22
2.13
1.23
2.11
1.20
Merchant wholesalers
1 25
1 24
1 27
1 28
1 28
1 29
1 29
1 30
1 31
1 31
1 29
1.25
1.24
1.25
Durable goods
Nondurable goods
1.92
78
1.87
78
1.92
80
1.96
80
1.94
80
1.94
82
1.93
84
1.90
87
1.93
87
1.93
87
1.92
84
1.84
83
1.82
82
1.84
.83
Retail trade
Durable goods .
Nondurable goods
1 37
1.87
1.14
1 37
1.84
1.15
1 39
1.89
1.16
1 40
1 40
1.93
1.16
1 39
1.90
1.15
1 38
1.86
1.16
1 43
1.99
1.17
1 45
2.08
1.16
1 42
2.04
1.14
1 37
1.84
1.15
1.39
1.87
1.17
1.47
2.09
1.18
1.48
2.08
1.21
Manufacturing and trade
Manufacturing
1.92
1.17
r
Revised.
" Preliminary
1. Includes lumber and wood products; furniture and fixtures; stone, clay, and glass products;
instruments and related products; and miscellaneous manufacturing industries.
2. Includes tobacco manufacturers; textile mill products; apparel products; printing and publishing; and leather and leather products.
NOTE.—Manufacturing inventories are classified by the type of product produced by the establishment holding the inventory. Trade inventories are classified by the type of product sold by
the establishment holding the inventory.
Table 4: The I-S ratios shown in this table were obtained by weighting detailed industry I-S
ratios by 1982 sales. For manufacturing, 21 industries were used; for merchant wholesalers, 20
kinds of business; and for retail trade, 8 kinds of business.
SURVEY OF CURRENT BUSINESS
66
September 1987
Table 5.—Manufacturing Inventories by Stage of Fabrication in Constant Dollars, Seasonally Adjusted, End of Period
[Billions of 1982 dollars]
1985
1984
I
II
III
IV
I
II
IV
I
II
1987
1987
1986
III
III
IV
I
II
Jan.
Feb.
Mar.
Apr.
May
June July"
Materials and supplies
Manufacturing
104.9 105.5 104.7
104.4 105.2 104.8 104.9
105.0
106.6 106.2 105.2 105.1
104.4
60.3
6.0
8.2
12.3
9.9
4.6
7.3
12.0
60.1
6.1
8.0
12.2
9.6
4.5
7.5
12.2
59.6
5.8
8.0
12.0
9.7
4.8
7.1
12.2
59.6
5.5
8.2
11.8
10.0
4.6
7.0
12.4
60.6
6.1
8.1
12.2
9.9
4.7
7.2
12.4
60.1
6.0
8.0
12.1
9.7
4.8
7.1
12.4
59.6
5.8
8.0
12.0
9.7
4.8
7.1
12.2
60.1
5.8
8.0
12.1
9.9
4.8
7.2
12.3
59.6
5.6
8.0
11.7
10.0
4.8
7.2
12.4
59.6
5.5
8.2
11.8
10.0
4.6
7.0
12.4
59.0
5.5
8.1
11.8
9.8
4.5
7.1
12.1
44.9
9.3
5.3
9.6
4.4
3.2
13.1
44.9
9.4
5.3
9.7
4.1
3.2
13.3
44.8
9.4
5.4
9.5
4.1
3.1
13.2
45.4
9.9
5.5
9.5
4.0
3.0
13.5
44.8
9.5
5.3
9.6
3.9
3.2
13.4
44.6
9.4
5.4
9.5
3.9
3.1
13.3
44.8
9.4
5.4
9.5
4.1
3.1
13.2
45.1
9.6
5.4
9.6
4.0
3.0
13.5
45.2
9.8
5.4
9.6
4.0
3.0
13.5
45.4
9.9
5.5
9.5
4.0
3.0
13.5
46.0
10.2
5.4
9.6
4.1
3.0
13.6
114.2 114.9 112.9 113.3 113.1 112.6 111.3 112.2 112.3 111.8 112.5 112.2 112.3 112.6 112.3
113.4
108.0 109.6 111.9 111.0 110.5 109.7
107.9 107.7
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation equipment
Other durable goods
61.4
7.9
8.6
13.0
9.1
4.4
6.7
11.8
62.6
7.9
8.7
13.1
9.5
4.5
6.6
12.2
64.6
8.1
8.8
13.8
10.0
4.7
6.7
12.5
64.6
7.7
8.8
13.6
10.4
4.9
6.8
12.4
64,3
7.3
8.7
13.6
10.5
4.7
6.7
12.6
63.5
7.1
8.6
13.4
10.3
4.8
6.9
12.4
62.6
6.9
8.6
13.0
10.1
4.9
6.9
12.3
62.5
6.6
8.6
12.8
9.9
5.0
7.2
12.3
61.3
6.5
8.5
12.3
9.8
4.7
7.2
12.2
61.1
6.3
8.6
12.2
10.0
4.6
7.3
12.1
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods
46.6
8.8
5.0
8.9
5.4
3.1
15.4
47.0
8.7
5.2
9.1
5.5
3.1
15.4
47.3
8.6
5.2
9.0
5.6
3.2
15.5
46.4
8.7
5.1
8.9
5.4
3.1
15.1
46.2
8.7
5.1
9.0
5.3
3.0
15.1
46.2
9.0
5.0
9.0
5.2
3.1
14.8
45.3
8.9
5.0
8.9
4.9
3.0
14.6
45.1
8.9
5.1
8.9
5.1
3.1
14.2
45.3
9.0
5.2
8.8
5.0
3.2
14.0
45.2
9.3
5.2
9.2
4.7
3.1
13.6
111.1 113.3 114.7
114.7
Work-in-process
Manufacturing
107.9
Durable goods
Primary metals
Fabricated metals
Machinery, except electrical
Electrical machinery
Motor vehicles
Other transportation equipment
Other durable goods
89.2
8.7
7.7
18.6
16.2
3.9
25.1
9.0
92.1
9.1
7.8
19.3
16.6
4.0
26.2
9.1
94.4
8.9
7.9
19.6
17.4
4.1
27.4
9.1
96.0
8.6
7.9
20.0
17.9
4.2
28.0
9.4
96.3
8.6
7.9
20.0
17.8
4.0
28.4
9.5
96.0
8.1
7.9
19.4
18.3
4.0
28.8
9.6
96.7
7.8
7.9
19.8
18.4
4.0
29.1
9.8
94.7
7.6
8.1
19.1
18.1
3.9
28.5
9.3
95.4
7.5
7.9
18.9
18.3
4.1
29.5
9.2
95.1
7.2
8.0
18.3
18.7
4.0
29.9
9.0
94.7
7.1
8.0
18.0
19.0
3.8
29.8
9.1
93.1
7.1
7.9
17.3
19.0
4.0
28.8
9.0
93.6
7.1
8.2
17.1
18.7
4.2
29.3
9.1
93.7
6.9
7.6
17.1
19.0
4.1
30.1
8.9
93.4
7.1
8.0
16.9
18.7
4.3
29.4
9.0
93.9
7.1
8.2
17.0
18.8
4.2
29.7
9.0
93.6
7.1
8.2
17.1
18.7
4.2
29.3
9.1
93.9
6.9
8.2
17.0
18.9
4.1
29.7
9.1
94.0
6.9
8.1
17.1
19.0
4.1
29.8
9.0
93.7
6.9
7.6
17.1
19.0
4.1
30.1
8.9
94.5
6.9
7.5
16.9
19.0
4.2
30.7
9.3
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods
18.7
2.4
1.1
4.4
3.4
1.1
6.4
19.0
2.4
1.1
4.7
3.4
1.3
6.2
18.9
2.5
1.1
4.8
3.3
1.1
6.1
18.6
2.5
1.2
4.6
3.2
1.2
6.1
18.4
2.4
1.2
4.6
3.1
1.1
6.0
18.1
2.4
1.1
4.6
3.1
1.1
5.8
18.2
2.3
1.1
4.7
3.0
1.2
5.9
18.2
2.3
1.2
4.5
3.2
1.1
5.9
17.9
2.3
1.1
4.4
3.0
1.2
5.9
18.0
2.3
1.1
4.4
3.1
1.1
6.0
17.9
2.4
1.2
4.5
2.8
1.2
5.8
18.1
2.4
1.2
4.5
2.8
1.3
5.9
18.6
2.4
1.2
4.6
2.8
1.1
6.5
18.6
2.5
1.2
4.6
2.8
1.2
6.4
18.4
2.4
1.2
4.7
2.8
1.1
6.2
18.5
2.4
1.2
4.7
2.8
1.2
6.3
18.6
2.4
1.2
4.6
2.8
1.1
6.5
18.4
2.4
1.2
4.5
2.7
1.2
6.3
18.6
2.4
1.2
4.6
2.8
1.2
6.4
18.6
2.5
1.2
4.6
2.8
1.2
6.4
18.8
2.6
1.2
4.5
2.9
1.2
6.5
104.3 104.3
103.7
102.4 101.7
101.1
100.9 100.5 100.7
101.7
99.9 102.3 102.1 101.7 101.2 101.8
99.9
100.9
53.2
5.7
6.7
13 2
8.1
2.3
3.5
13.7
48.7
11.7
3.8
13.3
6.4
3.8
9.7
51.8
5.6
6.7
12.3
7.9
2.3
3.5
13.6
48.1
11.9
3.7
12.9
6.4
3.6
9.5
53.4
5.7
7.1
12.9
8.0
2.2
3.6
13.9
47.5
11.1
3.7
13.2
6.1
3.7
9.6
Finished goods
Manufacturing
99.5 102.0 104.1
Durable goods
Primary metals
Fabricated metals
Machinery except electrical
Electrical machinery
Motor vehicles
Other transportation equipment
Other durable goods
52.0
7.1
6.2
13 7
7.1
1.8
3.3
12.8
52.9
7.2
6.2
14 0
7.3
1.9
3.4
12.9
54.1
7.2
6.3
14 4
7.6
2.0
3.4
13.2
55.1
7.1
6.5
14 9
8.0
2.0
3.3
13.2
55.3
7.0
6.6
14 7
8!l
2.1
3.5
13.3
55.0
6.8
6.6
14.7
8.2
21
3.4
13.2
54 0
69
6.5
14.0
7.9
22
3.4
13.1
53.3
6.7
6.6
13.6
7^7
2.2
3.3
13.1
52.7
6.6
6.6
13.4
7.7
21
3.3
13.0
52.0
6.5
6.5
12 7
7.9
2.1
3.4
13.1
52.1
5.9
6.7
12 7
8.0
2.1
3.4
13.3
52.0
5.8
6.6
12 7
8.0
2.2
3.4
13.4
52.3 51.8
5.6
5.6
6.6
6.7
12 4 12 3
7.9
8.3
2.4 , 2.3
3.5
3.4
13.6 13.6
52.7
5.9
£.6
12 9
8.1
2.2
3.4
13.7
52.4
5.6
6.5
12 8
8.2
2.3
3.4
13.5
52.3
5.6
6.6
12 4
8.3
2.4
3.4
13.6
52.5
5.7
6.6
12 7
8.1
2.3
3.5
13.6
Nondurable goods
Food and kindred products
Paper and allied products
Chemicals and allied products
Petroleum and coal products
Rubber and plastic products
Other nondurable goods
47.6
12.0
3.3
12 0
7.8
3.1
9.4
49.1
12.2
3.3
12.4
8.0
3.3
9.9
50.0
12.0
3.5
13.0
8.0
3.3
10.1
49.2
11.8
3.6
12.8
7.8
3.3
9.9
49.0
11.9
3.7
12.4
79
3.4
9.7
48.6
11 8
3.7
12.5
76
3.4
9.6
48.4
119
3.7
12.7
70
3.5
9.6
48.4
11.8
3.6
12.5
7.2
3.4
9.8
48.5
11.8
3.6
12.9
68
3.4
10.0
48.9
11.8
3.7
13.0
7.3
3.5
9.7
48.4
11.5
3.8
13.0
6.9
3.4
9.9
48.7
11.7
3.8
13.7
6.7
3.4
9.4
49.4
11.7
3.8
13.5
6.8
3.8
9.7
49.6
11.8
3.9
13.9
6.7
3.8
9.6
49.7
11.9
3.8
13.9
6.7
3.8
9.6
49.4
11.7
3.8
13.5
6.8
3.8
9.7
48.7
11.7
3.7
13.3
6.6
3.8
9.7
See footnotes to table 4.
48.1
11.9
3.7
12.9
6.4
3.6
9.5
CURRENT BUSINESS STATISTICS
The statistics here update series published in BUSINESS STATISTICS: 1984, a statistical supplement to the SURVEY OF CURRENT BUSINESS. That volume
(available from the Superintendent of Documents for $13.00, stock no. 003-010-00160-7) provides a description of each series, references to sources of
earlier figures, and historical data as follows: For all series, monthly or quarterly, 1981 through 1984, annually, 1961-84; for selected series, monthly or
quarterly, 1961-84 (where available).
The sources of the series are given in BUSINESS STATISTICS: 1984; they appear in the main methodological note for each series, and are also listed
alphabetically on pages 143-144. 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 through 1984 and
methodological notes are as shown in
IT ..
Umts
Annual
1985
BUSINESS STATISTICS: 1984
1986
1986
July
Aug.
Sept.
1987
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS
PERSONAL INCOME BY SOURCE t
Seasonally adjusted, at annual rates:
Total personal income
bil. $
Wage and salary disbursements,
total
Commodity-producing industries,
total
Manufacturing
..do...
Distributive industries
..do...
Service industries
..do...
Govt. and govt. enterprises
..do...
Other labor income
..do...
Proprietors' income: $
Farm
do...
Nonfarm
do...
Rental income of persons with capital
consumption adjustment
bil. $.
Dividends
do...
Personal interest income
do...
Transfer payments
do...
Less: Personal contributions for
social insurance
do....
Total nonfarm income
do....
DISPOSITION OF PERSONAL INCOME t
Seasonally adjusted, at annual rates:
Total personal income
bil. $..
Less: Personal tax and nontax
payments
do....
Equals: Disposable personal income
do ....
Less: Personal outlays
do....
Personal consumption expenditures
do....
Durable goods
do....
Nondurable goods
do....
Services
do....
Interest paid by consumers to
business
do....
Personal transfer payments to
foreigners (net)
do....
Equals: personal saving
do....
Personal saving as percentage of disposable
personal income §
percent..
Disposable personal income in constant (1982)
dollars
bil. $ ..
Personal consumption expenditures in
constant (1982) dollars
do....
Durable goods
do....
Nondurable goods
do....
Services
do....
Implicit price deflator for personal consumption
expenditures
index, 1982 = 100..
r
r
3,327.0
3,534.3
3,540.3
3,552.9
3,567.5
3,577.5
3,590.3
3,613.0
3,631.5
3,671.2
3,683.4
1,974.9
2,089.1
2,088.3
2,100.9
2,104.4
2,119.4
2,131.5
2,134.4
2,150.2
2,166.4
2,173.1
2,181.5
609.2
460.9
473.0
520.4
372.3
192.3
623.3
470.5
497.1
573.9
394.8
201.1
620.9
468.6
497.0
574.9
395.5
201.6
624.0
470.8
498.7
580.5
397.8
202.3
623.4
470.5
500.2
581.0
399.7
203.0
630.3
476.8
502.6
584.8
401.8
203.7
627.4
473.0
506.9
593.4
403.8
204.4
627.5
473.8
504.6
596.5
405.8
205.1
631.6
476.0
507.4
600.9
410.2
205.9
632.7
477.7
513.7
607.7
412.3
206.7
634.2
478.0
513.4
611.4
414.1
207.4
632.8
477.1
518.1
614.6
416.0
210.0
29.7
227.6
37.2
252.6
32 3
254.1
35.8
255.4
40.8
259.1
33.6
259.3
31.1
261.0
45.2
263.4
42.0
265.6
56.2
270.2
55.6
273.2
r
58.0
274.1
9.0
76.3
476.5
489.7
16.7
81.2
497.6
518.3
17.5
81.7
499.0
525.3
17.0
82.2
498.0
521.6
17.0
82.5
497.2
524.0
17.7
82.6
497.0
525.6
18.4
82.9
496.7
526.3
19.2
83.2
496.6
528.0
19.5
83.9
498.1
532.2
20.0
84.4
499.8
534.5
20.4
85.0
501.6
534.3
19.7
85.3
503.8
537.3
148.9
3,273.5
159.6
3,475.2
159.5
3,486.3
160.3
3,495.5
160.4
3,505.2
161.3
3,522.5
162.1
3,538.0
162.1
3,546.7
165.9
3,568.4
167.0
3,594.1
167.7
167.3
3,607.2 '3,622.8
3,327.0
3,534.3
3,540.3
3,552.9
3,567.5
3,577.5
3,590.3
3,613.0
3,631.5
3,671.2
3,683.4
r
485.9
2,841.1
2,714.1
2,629.4
368.7
913.1
1,347.5
512.2
3,022.1
2,891.5
2,799.8
402.4
939.4
1,458.0
511.0
3,029.3
2,904.1
2,812.4
404.7
941.3
1,466.4
515.6
3,037.2
2,918.6
2,826.5
420.2
940.4
1,465.9
519.3
3,048.2
2,965.4
2,872.4
457.8
938.3
1,476.2
524.3
3,053.2
2,933.6
2,839.5
413.4
944.6
1,481.6
530.7
3,059.6
2,935.4
2,841.3
404.4
943.5
1,493.4
541.0
3,072.0
2,988.9
2,894.9
441.7
951.0
1,502.2
537.9
3,093.5
2,943.2
2,849.5
381.9
954.4
1,513.2
533.1
3,138.2
3,009.6
2,915.8
405.7
980.3
1,529.8
537.3
3,146.1
3,009.7
2,916.0
400.7
975.1
1,540.1
542.0
633.6
r
3,068.4 rr3,166.5
r
3,031.2
3,025.1
r
2,931.5 '2,937.7
'402.7
'408.6
r
'983.6
977.1
r
l,545.8 1,551.5
'558.3
'3,157.0
'3,055.9
'2,961.8
'415.8
'985.6
1,560.4
82.7
89.9
90.1
90.6
91.4
92.2
92.1
92.0
92.1
92.0
92.0
92.4
92.4
2.0
127.1
1.7
130.6
1.6
125.2
1.6
118.6
1.6
82.8
1.9
119.6
1.9
124.3
1.9
83.2
1.7
150.3
1.7
128.6
1.7
136.4
1.2
'43.2
1.2
135.2
4.5
4.3
4.4
3.6
3.5
3.6
3.6
3.9
3.9
4.4
3.3
3,701.9
3,701.9
'3,715.3 '3,732.3
'2,207.6
2,227.1
635.9
479.8
519.4
620.3
418.1
209.0
'636.5
'480.0
'519.2
'623.1
420.1
209.6
'637.1
'480.3
'522.2
'626.2
422.1
210.4
642.0
484.0
525.5
635.5
424.1
211.1
r
41.6
275.8
'42.3
'277.7
'41.4
'280.5
34.7
283.0
18.9
86.5
506.3
545.4
18.2
87.0
508.8
'541.7
17.4
87.9
511.3
'545.3
16.7
88.8
513.8
545.4
168.6
169.5
168.9
3,645.1 '3,651.2 '3,669.1
170.7
3,693.4
'3,732.3
3,749.8
'561.5
'3,170.8
'3,078.2
'2,983.7
'417.9
'988.9
1,577.0
568.3
3,181.5
3,122.9
3,028.1
447.7
992.5
1,587.9
'92.9
'93.3
93.7
1.2
101.1
1.2
'92.6
1.2
58.6
3.0
3.5
2.7
2,674.9
2,193.7 '2,198.9
r
r
r
3.4
r
3,708.5
3,708.5 '3,715.3
r
2,542.2
2,645.1
2,654.1
2,653.4
2,652.2
2,652.6
2,655.5
2,661.9
2,656.3
2,687.2
2,680.3
'2,658.2
2,666.0
2,352.6
352.7
849.5
1,150.4
2,450.5
383.5
877.2
1,189.8
2,464.0
385.5
884.1
1,194.4
2,469.3
398.8
881.0
1,189.5
2,499.2
432.3
874.2
1,192.7
2,467.0
393.9
880.2
1,192.8
2,466.1
386.3
878.2
1,201.6
2,508.4
416.9
882.5
1,208.9
2,446.7
364.0
872.9
1,209.8
2,496.9
384.5
894.1
1,218.2
2,484.3 '2,487.0 r2,481.7 '2,493.9
'380.2
379.2
'390.2
'385.8
'880.0
882.5
'878.3
'878.8
1,222.6 1,222.5 1,221.5 1,225.3
2,508.7
391.6
881.6
1,235.5
111.8
114.3
114.1
114.5
114.9
115.1
115.2
115.4
116.5
116.8
117.4
117.9
118.4
118.8
118.9
2,603.1
INDUSTRIAL PRODUCTION <>
Federal Reserve Board Index of Quantity Output
Not Seasonally Adjusted
Total index
By industry groupings:
Mining and utilities
Manufacturing
Nondurable manufactures
Durable manufactures
Seasonally Adjusted
Total index
By market groupings:
Products, total
Final products
Consumer goods....
1977 = 100 ..
123.8
125.1
123.3
127.6
129.1
128.0
125.4
122.4
123.0
126.9
127.0
126.3
127.4
132.0
"128.2
do....
do....
do....
do....
110.0
126.4
125.1
127.3
103.4
129.1
130.9
127.9
102.1
127.3
131.5
124.3
103.8
132.3
137.7
128.3
101.9
134.0
138.1
131.2
99.1
133.4
137.0
130.8
101.4
130.0
132.3
128.4
102.4
126.2
127.9
125.0
104.6
126.2
127.2
125.5
105.0
131.0
131.9
130.4
100.1
132.1
132.8
131.6
98.1
131.6
133.9
130.0
'99.0
132.8
135.4
130.9
103.9
137.2
141.5
134.2
"104.4
"132.6
"138.6
"128.3
123.8
125.1
124.9
125.1
124.9
125.3
126.0
126.7
126.5
127.2
127.3
127.4
128.4
129.2
"130.3
130.8
131.1
120.2
133.2
132.3
124.5
133.2
132.0
125.2
133.8
132.6
125.1
133.3
132.2
124.2
134.0
132.7
124.7
134.5
133.1
125.6
135.0
133.7
127.2
134.9
133.6
126.8
136.1
135.0
127.5
136.2
135.0
127.5
135.7
134.5
126.6
137.2
135.8
128.2
138.0
136.6
128.6
"138.9
"137.3
"129.3
do...
do...
do....
138.5
145.2
133.7
139.4
138.0
129.5
See footnotes at end of te
S-l
September 1987
SURVEY OF CURRENT BUSINESS
S-2
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
Annual
.,U n i..t s
1985
1984
1987
1986
1986
July
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
1977 =
Automotive products
Autos and trucks consumer
Autos, consumer .
Trucks, consumer..
Home goods
Nondurable consumer goods
Consumer staples
Consumer foods and
tobacco..
Nonfood staples
Equipment
Business
and
defense
equipment...
Business equipment
Construction, mining,
and farm
Manufacturing
Power
Commercial
Transit
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
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 $
Mfg. and trade sales (seas, adj.),
total-t
..
.
Manufacturing, total
Durable goods industries
Nondurable goods industries
Retail trade, total
Durable goods stores
Nondurable goods stores
Merchant wholesalers, total
Durable goods establishments
Nondurable goods establishments
Mfg. and trade sales in constant (1982)
dollars (seas, adj.), total §
Manufacturing
Retail trade
Merchant wholesalers
See footnotes at end of tables.
100...
do
do
do
do
do
do....
do
112.9
114.0
112.0
98.9
136.3
112.2
122.9
129.0
116.2
115.1
112.9
97.3
141.8
117.1
127.5
134.2
116.3
116.4
114.5
95.3
150.3
116.3
128.4
135.3
115.7
114.5
110.4
87.8
152.4
116.7
128.6
135.5
117.4
117.0
116*8
96.2
155.1
117.7
126.7
133.6
116.3
112.7
107*7
91.9
137.1
119.0
127.8
134.4
118.4
114.6
107*6
92.3
136.0
121.2
128.3
135.0
121.5
117.7
115*6
99.5
145.6
124.4
129.4
136.0
120.0
117.6
117*9
94.3
161.9
121.9
129.2
135.9
122.4
123.5
125.2
105.3
162.1
121.6
129.4
135.9
121.2
121.2
121.6
100.9
159.9
121.2
129.8
136.5
118.1
115.7
111.5
91.8
148.1
119.9
129.8
136.4
120.2
118.0
113.1
91.0
154.2
121.8
131.1
137.7
119.6
114.9
107 7
87.9
144.4
123.2
132.0
138.5
"120.1
"117.1
"111.5
"86.1
120.5
117.6
112.7
'76.5
"122.4
"132.8
"139.3
'122.7
132.9
139.5
do
do
do
128.8
129.2
145.4
131.9
136.5
142.7
132.2
138.5
141.0
133.2
137.9
142.5
131.0
136.3
142.8
131.6
137.2
143.3
132.6
1374
143.1
133.9
138.2
142.2
132.9
139.0
142.8
134.0
137.9
144.9
134.8
138.2
145.0
134.4
138.5
144.9
135.6
139.9
145.8
136.1
141.0
147.1
"137.0
"141.7 "'"'141*8
149.3
"147.9
do
do
146.0
139.6
147.1
138.6
1464
137.9
147.8
139.3
148.0
139.3
148.4
139.1
148.1
138.6
147.0
137.1
147.7
1381
150.1
140.8
150.1
140.8
150.0
140.8
150.8
141.7
152.2
143.6
"152.4
"143.8
do
do
do
do
do
do
do
do
do
do
do
do
do
64.3
110.7
83.5
217.9
105.4
170.6
130.0
118.3
140.0
114.2
121.4
112.2
103.4
59.9
111.9
81.6
214.6
109.2
180.3
136.4
124.7
146.4
113.9
119*7
118.3
99.9
60.6
112.6
81.7
214.5
103.9
179.5
137.3
124.0
148.6
113.6
118*8
118.9
99.9
58.3
113.3
81.7
217.5
106.9
181.0
137.8
125.4
148.4
113.2
118*8
119.7
97.9
58.1
113.0
80.3
215.1
113.3
182.0
137.0
125.9
146.4
113.5
118*9
120.6
98.0
58.0
112.7
80.5
215.4
111.8
184.6
138.7
126.3
149.3
113.3
119.2
120.3
96.9
56.6
109.6
79.5
217.3
110.7
184.9
139.2
126.8
149.7
114.3
120.4
120.2
98.7
58.2
108.8
80.2
213.7
108.9
185.8
139.7
127.9
149.8
115.2
120.7
123.2
98.8
57.2
110.1
79.6
215.9
109.5
185.2
1391
128.3
148.3
115.2
120^5
123.2
98.9
56.8
111.5
81.2
2184
1174
186.5
139.7
128.4
149.4
115.1
121*5
122.5
97.6
581
110.9
81.7
219.7
114.0
186.6
140.4
128.5
150.5
115.2
121*8
122.8
97.0
58.6
111.1
82.4
220.9
1104
186.1
139.9
127.3
150.5
116.2
122*2
125.4
97.5
r
61.2
111.5
84.0
222.0
110.1
186.5
142.1
128.3
153.8
116.3
12L6
125.3
r
99.3
'64.0
113.9
'83.8
'225.8
107.3
185.8
142.8
129.4
154.2
117.2
1227
125.8
1004
"65.3
"116.4
"82.2
"224.9
"106.8
"186.3
"144.2
"130.8
"155.6
"118.6
"124.2
"127.8
"100.7
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
110.0
108.8
75 0
126.8
106.2
108.1
85.7
118.3
111.9
119.7
126.4
125.1
130.2
100.2
103.2
100.9
127.6
153.9
127.1
86.8
146.9
68.5
127.3
113.4
139.7
115*5
80.5
70.4
99.7
107*3
145.3
168.4
121.4
111.5
139.1
103.4
99.6
71.8
124.2
94.7
105.7
84.1
113.7
109.7
122.2
129.1
130.9
133.6
96.4
113*2
103.5
136.4
163.4
133.0
92.1
153.4
61.3
127.9
123.4
146 8
120*2
75.8
63.4
99 0
1074
141.9
166.5
125.8
110.9
141.4
101.8
97.1
69.2
120*2
924
106.6
82.9
111.8
109.7
125.4
129.2
131.7
134.3
97 9
1134
102.5
138.1
1654
134.1
90.6
155.5
61.9
1274
120.8
149 5
119*6
73.6
61.7
95 9
1057
142.6
166.8
125.6
111.2
141.7
100.9
96.4
70.9
122.2
90.7
104.1
81.4
114.8
108.3
122.4
129.5
132.2
135.1
97 1
1147
102.5
138.6
164.6
1344
94.0
155.5
62.0
127.5
122.5
148 3
119.7
73.4
60.8
97 3
105^9
142.6
167.2
125.1
108.2
142.0
100.8
96.2
70.7
120.8
91.0
105.1
82.1
111.7
108.3
122.8
129.5
131.4
134.3
89 8
116*0
102.7
136.9
163.0
133.9
93.3
154.9
59.4
128.1
125.0
147 7
121.6
74.1
61.1
98 6
107^3
140.9
166.9
127.7
112.2
141.7
100.7
95.6
68.5
117.6
90.5
103.9
82.1
116.4
109.3
123.8
129.9
132.3
133.7
100.1
116.1
104.2
137.8
167.8
133.9
91.1
157.6
60.2
128.1
125.9
149.2
118.1
74.2
62.2
96 8
108^3
142.2
167.7
125.2
107.1
140.3
102.6
97.4
68.3
130.1
90.4
102.0
82.4
115.2
111.2
125.1
130.3
132.7
134.4
96 8
117.8
105.1
139.5
168.5
132.3
92.0
159.0
61.3
128.6
129.5
148 6
120*6
76.8
64.8
99 5
1071
141.2
168.3
125.6
107.9
141.1
101.9
96.7
73.5
124*3
90.9
101.4
87.6
109.6
110.6
123.5
131.1
133.7
135.3
92 9
118.4
1064
141.6
167.7
134.6
92.5
160.7
59.4
129.2
133.1
150 5
121.7
73.5
60.5
98 1
108*3
139.9
170.2
127.0
111.2
142.4
101.9
97.2
72*1
133*5
89.9
98.4
87.8
1071
109.5
121.7
131.1
134.1
135.3
89 1
118*0
107.2
139.8
1681
137.4
94.7
1581
58.3
129.0
130.2
148 7
122*8
73.6
60.2
98 8
1014
96.5
71.6
121.8
91.0
98.3
86.4
113.1
109.5
123.3
132.3
134.8
136.1
100.7
119^3
107.1
139.2
168.2
138.3
91.4
161.3
59.1
130.5
129.5
153 4
1227
77.5
65.1
100.9
108^8
143.7
167.6
130.6
115.5
142.0
101.5
97.0
66.7
121.6
92.0
994
85.2
114.4
109.0
123.4
132.4
135.8
136.1
99.4
122*9
106.6
139.9
171.4
138.2
94.0
163.8
59.3
130.0
128.9
155.9
122^9
76.8
65.0
99.2
108^6
145.2
166.5
1271
109.3
144.1
103.0
r
98 0
717
126.6
'91.7
100.7
84.2
115.5
111.3
127.5
133.3
136.8
137.1
107.8
1221
108.1
141.1
174.4
138.0
92.6
165.4
r
60.6
130.8
130.6
156.2
120*9
'77.6
65.7
100.0
107*9
147.1
168.8
127.4
110.1
143.5
104.2
'98.7
70 1
130.1
r
91.9
101.0
"104.3
"98.6
104.5
'98.6
"126.9
"92.0
"1001
124.0
'92.5
117.2
113.3
1291
133.8
137.7
137.8
107 0
123.6
109.0
141.9
175.5
138.9
'91.7
168.2
r
601
131.1
132.0
161.9
1194
-78.1
r
66.8
r
994
108.9
148.8
169.4
125.1
106.6
145.1
"119.6
"113.9
"129.2
"135.0
"139.0
"138.8
140.3
169.2
128.1
112.2
142.5
101.3
96.2
72*0
127*7
89.5
97.6
84.1
110.0
109.6
122.3
132.0
134.3
135.7
98.7
1184
107.4
140.5
166.7
137.7
91.9
159.2
59.6
130.4
130.0
151 8
121*5
76.3
63.1
101 1
108*2
142.3
169.3
131.8
117.8
143.3
mil. $.. 5,033,505 5,109,020
409,679
421,809
445,147
443,804
423,305
464,583
391,606
414,705
454,224
448,436
452,968 '470,810
439,739
'"421,167 423,242
186,331 186,977
r
98,065
99,712
r
88,912
86,619
120,478 121,839
r
r
48008
46*587
r
73,891 '73,831
114,358 114,426
r
54,747
55,644
59,679
'58,714
437,895
190,805
100,881
89,924
128,952
55*010
73*942
118,138
56,998
61,140
430,012
190,403
101,528
88,875
122,121
47*800
74*321
117,488
57,102
60,386
429,944
190,532
100,218
90,314
121,678
47*408
74*270
117,734
56,758
60,976
443,766
197,707
106,739
90,968
127,613
75*03*;
118,446
57,833
60,613
425,080
189,956
99,318
90,638
118,579
43*766
74313
116,545
55,893
60,652
443,169
195,608
103,601
92,007
124,280
47*365
76*915
123,281
59,344
63,937
445,032
197,430
104,750
92,680
124,593
47*942
76*651
123,009
59,498
63,511
444,357
195,958
102,747
93,211
124,960
48*135
76*825
123,439
59,016
64,423
446,282
196,929
102,477
94,452
124,867
47*783
77*084
124,486
59,413
65,073
'•451,734
'200,591
104,476
r
96,115
126,307
'48*981
r
77,326
124,836
'60,274
'64,562
451,604
199,251
103,235
96,016
126,990
49358
77,632
125,363
60,770
64,593
425.6
190.7
118.6
116*3
436.7
191.8
124.6
120^3
428.2
191.6
118.3
1184
428.2
191.9
117 7
118*6
438.0
196.1
122 6
119*2
422.4
191.7
113 £
117*3
438.5
196.7
118 3
123^5
435.9
195.0
118 0
123*0
do
do....
do. ..
do....
do
do
do....
do....
do....
do ....
bil. $ ..
do....
do
do
' 5,033,505
'2,279,132
1,187,165
1,091,967
' 1,379,621
517 981
861,640
' 1,373,926
626,749
747,177
' 5,109,020
'2,273,298
1,201,704
1,071,594
'1,454,411
568057
886,354
'1,381,311
664,108
717,203
r
423.5
190.2
117.5
1157
mo
r
434.3
193.9
117 8
122*6
r
433.2
193.8
117 '
122^2
r
435.0
195.3
118 (
1217
153.6
145.2
1177
'82.6
'226.6
108.2
186.8
144.1
130.9
118 9
124.6
128.1
100.7
114.3
135.4
139.2
"125.2
"145.2
"175.7
"140.3
"92.0
"171.8
"59 9
"132.1
"134.1
"162.6
"119.5
"81.7
"101 5
"109.7
"150.0
"169.4
"125.8
"108.0
"146.1
436.8
196.1
118 (
1221
175.6
'92.6
132.7
'827
110.5
151.4
170.5
125.3
106.8
146.8
September 1987
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
Annual
,,L J n ..l t s
1984
1985
S-3
1987
1986
July
1986
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
June
May
July
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INVENTORIES
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(unadjusted), total i
mil. $.
Mfg. and trade inventories, book value
(non-LIFO basis), end of period,
(seas, adj.), total t
mil. $.
Manufacturing, total
do...
Durable goods industries
do...
Nondurable goods industries
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 (1982)
dollars, end of period(seas. adj.),total §....bil. $ .
Manufacturing
do...
Retail trade
do...
Merchant wholesalers
do...
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t
ratio..
Manufacturing, total
do....
Durable goods industries
do....
Materials and supplies
do....
Work in process
do....
Finished goods
do....
Nondurable goods industries
do ....
Materials and supplies
do....
Work in process
do....
Finished goods
do ....
Retail trade, total
do ....
Durable goods stores
do ....
Nondurable goods stores
do....
Merchant wholesalers, total
do....
Durable goods establishments
do....
Nondurable goods establishments
do ....
Manufacturing and trade in constant (1982)
dollars, total §
do....
Manufacturing
do...
Retail trade
do ....
Merchant wholesalers
do....
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t
Shipments (not seas, adj.), total
mil. $
Durable goods industries, total
do...
Stone, clay, and glass products
do..
Primary metals
do..
Blast furnaces, steel mills
do..
Fabricated metal products
do ...
Machinery, except electrical
do..
Electrical machinery
do..
Transportation equipment
do ...
Motor vehicles and parts
do..
Instruments and related products
do..
Nondurable goods industries, total
do ..
Food and kindred products
do..
Tobacco products
do..
Textile mill products
do..
Paper and allied products
do..
Chemical and allied products
do..
Petroleum and coal products
do..
Rubber and plastics products
do ..
Shipments (seas, adj.), total
do..
By industry group:
Durable goods industries, total #
do..
Stone, clay, and glass products
do ..
Primary metals
do..
Blast furnaces, steel mills
do ..
Fabricated metal products
do ..
Machinery, except electrical
do..
Electrical machinery
do..
Transportation equipment
do..
Motor vehicles and parts
do..
Instruments
and
related
products
do..
Nondurable goods industries, total #
do..
Food and kindred products
do ..
Tobacco products
do..
Textile mill products
do..
Paper and allied products
do ..
Chemicals and allied products
do..
Petroleum and coal products
do..
Rubber and plastics products
do ..
See footnotes at end of tables.
642,031
643,308
650,695
326,780
213,750
113,030
179,671
90,791
652,705
318,172
207,935
110,237
187,158
94,935
92,223
147,375
95,710
51,665
135,833
87,421
48,412
1.38
1.50
1.94
.53
.87
.45
1.02
.39
.16
.47
1.40
1.84
1.13
1.17
1.66
.76
643,308
651,595
660,705
673,618
672,268
r
655,415 652,978 656,619 656,189
319,882 318,345 318,220 318,721
209,885 209,438 209,170 209,373
109,997 108,907 109,050 109,348
187,483 186,034 190,645 189,264
94,337 97,810 97,041
97,387
91,697 92,835 92,223
90,096
'147,711 148,050 148,599 147,754 148,204
r
96,610 96,883 97,216 96,845 97,652
r
50,552
51,383
50,909
51,167
51,101
652,705
318,172
207,935
110,237
187,158
94,935
92,223
147,375
95,710
51,665
659,036
320,689
209,090
111,599
189,000
96,606
92,394
149,347
97,280
52,067
660,470 663,010 665,877 671,609 '674,753
320,535 320,090 320,785 321,848 '321,621
209,096 '208,654
208,644 207,987
111,891 112,103 112,102 112,752 112,967
190,527 193,355 195,042 197,088 '200,039
97,831
99,293 99,767 101,876 103,541
92,696 94,062 95,275 95,212 '96,498
149,408 149,565 150,050 152,673 153,093
97,891 100,056 '99,504
96,594 97,491
52,617 '53,589
52,814 52,074 52,159
676,207
r
651,113
665,568
656,371
320,888
'210,462
110,426
187,772
r
97,876
1.69
2.10
.49
1.23
.39
.15
.47
1.53
2.01
1.22
1.27
1.73
.85
2,279,132 2,273,298
1,187,165 1,201,704
55,065
56,787
110,301
101,733
48,137
42,830
139,580
135,974
215,084
205,804
192,733
205,613
301,383
314,081
188,534
194,725
61,009
1,091,967 1,071,594
301,557
314,500
18,507
18,016
53,275
54,607
93,413
103,834
197,314
198,348
179,134
129,320
72,170
71,323
r
666,333
652,610
649.0
320.7
176.5
151.7
647.1
319.1
175.7
152.4
644.0
318.2
173.1
152.7
646.7
317.7
177.1
152.0
645.5
317.9
175.7
151.8
643.3
317.0
174.8
151.5
649.5
319.6
177.2
152.7
1.56
1.72
'2.11
.60
'.97
.54
1.27
.49
.20
.58
1.56
'2.10
1.22
1.29
1.74
.87
1.71
2.14
.61
.99
.54
1.24
.48
.19
.57
1.54
'2.03
1.22
1.29
1.77
1.49
1.67
2.08
.59
.96
.52
1.21
.47
.19
.55
1.44
1.71
1.24
1.26
1.71
.84
1.53
1.67
2.06
.58
.95
.52
1.23
.47
.19
.56
1.56
2.05
1.25
1.26
1.70
.84
1.67
2.09
.59
.96
.54
1.21
.47
.19
.55
1.56
2.05
1.24
1.26
1.72
.83
1.61
1.95
.56
1.69
2.11
.60
1.21
.47
.19
.55
1.47
1.81
1.23
1.24
1.65
.85
1.23
.47
.20
.56
1.59
2.21
1.23
1.28
1.74
1.53
1.69
1.50
1.31
1.52
1.67
1.48
1.31
1.48
1.66
1.39
1.27
1.51
1.66
1.50
1.28
1.51
1.66
1.49
1.28
1.47
1.62
1.43
1.27
1.54
1.67
1.56
1.30
184,880 200,931 194,974
95,026 105,774 104,244
5,054
5,165
4,852
8,488
8,470
7,983
3,457
3,391
3,199
11,941
12,003
11,272
16,593
17,819
15,356
17,955
19,094
17,048
26,745 27,841
22,965
17,342
16,904
13,748
5,356
5,343
4,984
89,854 95,157 90,730
26,449
28,600 27,534
1,181
1,637
1,416
5,058
4,834
4,973
9,263
9,114
9,034
17,594
16,236
15,996
10,052
10,058
9,375
6,407
6,410
5,879
186,977 190,805 190,403
188,788
99,314
4,666
7,798
3,139
10,834
16,530
18,414
26,020
15,476
5,126
89,474
26,911
1,544
4,548
8,804
15,651
9,657
6,016
190,532
190,978
102,667
4,149
7,442
3,108
10,255
19,286
18,684
28,206
15,424
5,382
172,672
90,221
4,623
7,644
3,414
10,634
15,525
15,229
22,512
12,843
4,710
82,451
25,307
1,165
8,200
14,802
9,773
5,436
186,331
r
88,311
26,804
2,095
4,395
8,829
16,483
9,688
5,563
197,707
667,650
672,221
649.5
319.3
177.7
152.6
651.8
318.3
181.1
152.4
652.7
318.7
181.4
152.5
'655.8
319.3
182.3
154.1
'657.0
'317.2
185.0
154.8
657.7
319.2
185.0
153.4
1.49
1.64
2.01
.57
.92
.52
1.22
.47
.19
.55
1.53
2.07
1.21
1.21
1.63
.83
1.62
1.99
.57
.91
.51
1.21
.47
.19
.55
1.55
2.07
1.23
1.22
1.64
.82
1.50
1.64
2.03
.58
.93
.52
1.20
.47
.19
.54
1.56
2.07
1.24
1.22
1.66
.81
1.50
1.63
2.04
.58
.93
.52
1.19
.47
.19
.54
1.58
2.13
1.24
1.23
1.68
.81
1.49
1.60
'2.00
.57
.92
.51
1.18
.46
.19
.53
1.58
2.11
1.25
1.23
1.65
'.83
1.50
1.62
2.03
.57
.94
.52
1.18
.46
.19
.53
1.58
2.10
1.25
1.22
1.64
.82
1.48
1.62
1.50
1.24
1.50
1.63
1.54
1.24
1.50
1.64
1.54
1.24
1.51
1.65
1.56
1.26
1.51
1.63
1.57
1.27
1.51
1.63
1.56
1.26
174,649 197,198
89,625 104,532
4,806
4,297
8,694
7,647
3,634
3,240
11,657
10,030
16,442
14,076
17,890
15,586
29,281
24,426
19,635
16,322
5,075
4,439
85,024 92,666
27,005
25,019
1,304
782
4,604
3,926
9,818
8,983
17,509
16,633
9,807
9,768
6,730
5,859
189,956 195,608
r
206,876 196,715 198,265 212,816 185,080
93,655
111,404 104,429 104,192 113,238
4,925
'5,380
5,144
5,264
5,130
8,655
'9,623
9,034
9,012
8,950
3,798
'4,198
3,928
3,846
3,713
10,425
11,317 11,976
11,483
11,954
16,423
17,187 r19,552
17,123
18,685
16,617
17,829 20,105
17,357
19,323
20,685
27,378 '28,787
28,019
30,441
11,391
17,512 17,700
18,145
19,106
5,028
'5,724
5,185
4,972
5,494
91,425
'99,578
94,073
95,472 92,286
27,231
26,922 27,531 '28,662
27,847
1,144
2,060
1,670
1,156
1,729
r
4,113
5,126
4,621
4,601
4,963
9,672
9,591 10,295
9,516
9,777
16,575
18,109 18,892
17,986
18,094
11,534
10,756 11,218
10,324
10,101
5,880
'7,041
6,598
6,646
6,782
197,430 195,958 196,929 '200,591 199,251
99,712
'4,658
'8,222
r
3,651
11,306
17,055
17,125
r
26,297
16,270
98,065
4,584
8,005
3,255
11,182
16,703
17,476
24,992
15,483
100,881
4,732
8,558
3,480
11,466
16,848
17,703
26,164
16,580
101,528
4,773
8,417
3,492
11,360
16,697
17,650
27,128
16,592
100,218
4,770
8,189
3,357
11,053
16,672
18,133
26,003
15,447
106,739
4,795
8,299
3,394
11,378
17,664
18,148
30,827
18,594
99,318
4,963
8,002
3,317
10,885
16,729
17,673
25,456
16,712
103,601
5,131
8,375
3,468
11,682
16,841
17,876
27,650
18,169
104,750
5,140
8,395
3,510
11,498
17,035
18,038
28,498
17,373
102,747
5,064
8,491
3,605
11,357
17,086
17,872
26,835
16,762
'5,075
86,619
'26,312
1,165
'4,597
'8,604
16,130
'9,649
'5,732
5,073
5,049
89,924
26,839
1,637
4,654
9,091
16,571
9,841
6,077
5,301
88,875
27,003
1,181
4,687
9,067
16,504
9,274
6,048
5,127
90,314
27,154
1,544
4,658
9,147
16,629
9,673
6,023
5,209
88,912
26,607
1,416
4,649
9,001
16,423
9,857
5,856
26,785
2,095
4,647
9,311
16,793
9,832
6,136
4,956
90,638
27,084
782
4,536
9,276
17,191
10,007
6,314
5,133
92,007
26,977
1,304
4,638
9,485
17,137
10,068
6,661
5,219
92,680
26,902
1,729
4,579
9,428
17,097
10,215
6,733
5,167
93,211
27,555
1,156
4,622
9,451
17,514
10,384
6,545
r
322,995
209,767
113,228
200,821
103,750
97,071
152,391
99,433
52,958
102,477 104,476
'4,946
4,961
'9,018
8,643
'3,879
3,721
11,062 11,202
17,110 17,328
18,326 18,527
26,323
16,320 16,297
5,216
94,452
27,498
1,670
4,585
9,547
17,887
10,743
6,528
'5,284
'96,115
'27,880
2,060
'4,754
'9,786
17,779
11,074
'6,591
103,235
4,959
9,289
4,053
11,050
18,071
18,690
24,116
14,471
5,426
96,016
28,317
1,144
4,805
10,159
18,039
11,406
6,204
Aug.
September 1987
SURVEY OF CURRENT BUSINESS
S-4
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS: 1984
Annual
,,L n i..t 8
1985
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS t_Continued
Shipments (seas, adj.)—Continued
By market category:
Home goods and apparel
mil. $
'151,322 ' 153,075
Consumer staples
do..
' 420,808 '447,890
Equipment and defense products,
except auto
do..
'372,118 '372,198
Automotive equipment
do..
'211,994 '217,223
Construction materials, supplies, and
intermediate products
do..
'172,743 ' 179,596
Other materials, supplies, and
intermediate products
do..
'950,147 '903,316
Supplementary series:
Household durables
do..
'71,541
'67,841
Capital goods industries
do..
'420,692 '428,686
Nondefense
do..
'323,845 '321,761
Defense
do..
'96,847 '106,925
Inventories, end of year or month:
Book value (non-LIFO basis),
(unadjusted), total
do..
313,697
322,279
Durable goods industries, total
do..
204,025
209,834
Nondurable goods industries, total
do..
109,672
112,445
Book value (non-LIFO basis),
(seasonally adjusted), total
do..
318,172
326,780
By industry group:
Durable goods industries,
total #
do..
207,935
213,750
Stone, clay, and glass products
do...
6,961
7,081
Primary metals
do..
17,294
19,670
Blast furnaces, steel mills
do..
7,784
9,598
Fabricated metal products
do..
21,207
22,250
Machinery, except electrical
do..
41,650
45,480
Electrical machinery
do ..
38,774
38,184
52,638
52,051
Transportation equipment
do ..
Motor
vehicles
and
parts
do..
11,119
11,638
Instruments and related
products
do..
12,620
12,730
By stage of fabrication:
Materials and supplies
do..
59,357
62,163
Work in process
do..
95,445
97,219
Finished goods
do..
53,133
54,368
Nondurable goods industries,
total #
do..
110,237
113,030
Food and kindred products
do..
23,575
23,559
Tobacco products
do..
5,634
5,928
6,506
Textile mill products
do..
7,123
10,429
Paper and allied products
do..
9,908
Chemicals and allied
products
do..
27,021
25,145
Petroleum
and
coal
products
do..
9,844
14,006
Rubber
and
plastics
products
do..
8,561
8,630
By stage of fabrication:
Materials and supplies
do..
42,898
42,865
Work in process
do..
17,304
18,775
Finished goods
do..
50,035
51,390
By market category:
Home goods and apparel
do..
24,904
24,398
Consumer staples
do..
41,098
40,398
Equip, and defense prod.,
exc. auto
do..
92,116
95,732
Automotive equipment
do..
14,233
13,392
Construction materials, supplies, and
22,682
23,288
intermediate products
do ..
Other materials, supplies, and
intermediate products
do..
123,980
128,731
Supplementary series:
Household durables
do..
12,050
12,908
Capital goods industries
do ..
107,930
105,660
Nondefense
do.
76,480
71,787
Defense
do.
31,450
33,873
New orders, net (unadj.),
total
do.
2,287,566 2,273,781
Durable goods industries, total
do .
1,195,204 1,201,566
Nondurable goods industries, total
do .. 1,092,362 1,072,215
New orders, net (seas, adj.),
total
do.. '2,287,566 '2,273,781
By industry group:
Durable goods industries, total
do . 11,195,204 ' 1,201,566
Primary metals
do.
'110,214 ' 102,155
Blast furnaces, steel mills
do.
'48,305
'43,560
Nonferrous and other primary metals
do.
'51,062
' 48,103
Fabricated metal products
do.
' 137,592 ' 134,969
Machinery, except electrical
do.
'212,976 ' 199,601
Electrical machinery
do.
'200,353 '207,800
Transportation equipment
do .
'306,355 '318,641
Aircraft, missiles, and parts
do.
' 100,987 '104,539
1
Nondurable goods industries, total
do. 1,092,362 ' 1,072,215
Industries
with
unfilled
'253,294 '270,650
orders X
do.
Industries without unfilled
'839,068 '801,565
orders 0
.'
do.
By market category:
'151,087 '153,144
Home goods and apparel
do.
'420,910 '447,892
Consumer staples
do.
'384,849 '373,513
Equip, and defense prod., exc. auto
do.
'211,116 '216,996
Automotive equipment
do.
Construction materials, supplies, and
intermediate products
do.
'171,901 '179,223
Other materials, supplies, and
intermediate products
do.
'947,703 '903,013
Supplementary series:
Household durables
do.
'71,714
'67,541
Capital goods industries
do.
'433,953 '430,187
Nondefense
do.
'323,635 '320,057
Defense
do.
'110,318 '110,130
See footnotes at end of tables.
'12,653
'36,678
12,760
37,948
13,150
38,485
12,695
38,213
12,973
38,821
13,166
38,707
13,164
38,088
13,199
38,444
13,306
38,537
13,330
38,897
13,438
39,477
'13,746
'40,151
13,682
39,585
r
30,816
r
30,955
17,318
30,602
18,443
31,058
18,606
31,231
17,235
33,237
20,320
29,740
18,683
30,269
20,152
32,114
19,399
31,169
18,852
31,151
18,344
'32,000
'18,379
32,525
16,522
18,100
r
14,850
14,698
15,140
15,202
15,135
15,097
15,531
16,511
16,262
15,931
15,619
'15,745
16,116
-"73,234
73,298
74,985
74,629
75,137
77,180
74,750
77,033
77,812
77,779
78,900
'80,570
80,821
r
5,949
35,733
'26,725
'9,008
6,103
35,181
26,583
8,598
6,338
35,552
26,651
8,901
6,111
36,268
27,008
9,260
6,165
36,804
26,932
9,872
6,279
39,383
28,727
10,656
6,191
34,112
25,836
8,276
6,199
35,187
26,794
8,393
6,132
37,227
27,353
9,874
6,175
36,079
27,319
8,760
6,294
36,211
26,974
9,237
'6,445
'37,289
'27,852
'9,437
6,365
36,947
28,080
8,867
321,663
211,478
110,185
320,859
210,884
109,975
317,705
209,380
108,325
318,267
208,819
109,448
317,803
207,932
109,871
313,697
204,025
109,672
318,669
206,933
111,736
321,166
208,809
112,357
320,743
208,758
111,985
322,978
210,363
112,615
324,696 '322,472
211,505 '209,890
113,191 '112,582
210,834
113,024
r
320,888
319,882
318,345
318,220
318,721
318,172
320,689
320,535
320,090
320,785
321,848 '321,621
322,995
r
209,885
7,124
17,583
8,202
21,593
42,472
39,589
52,890
209,438
6,914
17,147
7,860
21,504
42,386
39,494
53,313
209,170
6,910
16,879
7,604
21,413
42,360
39,394
53,435
209,373
7,001
16,921
7,684
21,231
42,339
39,215
53,601
207,935
6,961
17,294
7,784
21,207
41,650
38,774
52,638
209,090
7,189
17,225
7,834
21,373
41,418
39,049
53,373
208,644
6,990
16,859
7,618
21,367
41,384
39,085
53,311
207,987
7,021
16,587
7,450
21,433
41,081
38,995
53,271
208,683
6,988
16,520
7,381
21,366
41,228
39,164
53,735
209,096 '208,654
'6,973
7,015
16,312 '16,228
'7,270
7,287
21,343 '21,223
41,092 '40,902
39,277 '39,220
54,084 '54,199
209,767
6,982
16,253
7,255
21,362
40,878
39,299
54,968
11,128
r
210,462
'6,990
'18,073
r
8,595
r
21,636
'42,818
'39,374
r
52,924
r
ll,155
10,998
10,976
10,979
11,353
11,119
11,067
11,059
11,203
11,082
11,188
11,155
'12,516
12,496
12,647
12,670
12,763
12,620
12,615
12,681
12,509
12,459
12,544
'12,461
12,519
'59,835
'97,137
'53,490
59,605
97,085
53,195
59,531
97,042
52,865
59,043
96,932
53,195
59,106
96,411
53,856
59,357
95,445
53,133
59,817
95,589
53,684
59,499
95,617
53,528
59,230
95,052
53,705
59,770
95,335
53,578
59,723
95,768
53,605
'59,759
'96,060
'52,835
59,120
96,835
53,812
'110,426
'25,499
'5,549
'6,869
'10,336
109,997
23,986
5,469
6,724
10,381
108,907
23,549
5,448
6,654
10,319
109,050
23,633
5,467
6,494
10,251
109,348
23,594
5,550
6,505
10,326
110,237
23,575
5,634
6,506
10,429
111,599
23,792
5,658
6,755
10,555
111,891
23,677
5,639
6,806
10,684
112,103
26,440
5,688
6,871
10,837
112,102
26,379
5,712
6,868
10,817
112,752 '112,967
26,604 '26,492
'5,928
5,803
'6,751
6,810
10,909 '10,906
113,228
26,531
5,950
6,764
'26,108
25,964
25,955
26,171
26,260
27,021
27,286
27,283
26,921
26,867
26,783
'26,465
'10,528
10,443
9,940
9,913
9,793
9,844
9,968
10,225
10,387
10,290
10,227
'10,348
'8,461
8,419
8,471
8,396
8,485
8,630
8,660
8,634
8,567
8,565
8,677
'8,647
'42,593
'17,270
'50,563
42,453
17,005
50,539
42,100
17,112
49,695
42,150
17,245
49,655
42,133
17,247
49,968
42,898
17,304
50,035
42,757
17,709
51,133
43,023
17,914
50,954
43,178
18,003
50,922
43,624
17,832
50,646
44,045
18,029
50,678
'44,184
'18,134
'50,649
8,801
44,287
17,866
51,075
'24,635
'41,281
24,754
41,056
24,566
40,580
24,678
40,789
24,876
40,968
24,904
41,098
25,339
41,637
25,550
41,563
25,672
41,668
25,666
41,580
25,783
41,988
'25,613
'42,592
25,796
42,115
'94,054
'13,706
93,739
13,545
93,960
13,502
93,942
13,332
93,654
13,696
92,116
13,392
92,373
13,382
92,140
13,482
91,703
13,599
92,173
13,486
92,316
13,591
'92,225
'13,544
92,616
13,540
23,186
'23,180
10,877
26,849
10,383
'22,340
22,465
22,178
22,187
22,366
22,682
23,027
22,777
22,926
23,015
'124,872
124,323
123,559
123,292
123,161
123,980
124,931
125,023
124,522
124,865
124,984 '124,467
125,560
'12,603
'107,620
'74,002
'33,618
171,499
88,928
82,571
'186,334
12,627
107,718
73,781
33,937
180,877
91,249
89,628
184,886
12,517
107,955
73,701
34,254
202,301
106,841
95,460
193,758
12,631
107,919
73,359
34,560
192,845
102,107
90,738
189,407
12,790
107,588
73,179
34,409
189,266
99,886
89,380
190,999
12,908
105,660
71,787
33,873
192,786
104,345
88,441
197,042
13,094
106,395
72,231
34,164
176,432
90,761
85,671
186,635
13,196
106,264
72,044
34,220
198,802
105,609
93,193
194,333
13,219
105,678
71,585
34,093
210,979
114,989
95,990
199,399
13,196
106,652
71,936
34,716
200,818
108,067
92,751
200,624
13,295
106,804
71,938
34,866
200,163
106,201
93,962
201,397
'13,164
'106,751
'71,902
'34,849
'214,098
'114,356
'99,742
'205,454
13,227
107,515
72,016
35,499
204,943
'99,679
'7,762
'3,227
96,129
8,677
3,900
103,468
8,955
4,004
100,392
8,252
3,203
100,658
8,258
3,418
105,966
9,180
3,977
95,546
7,333
2,862
101,932
8,231
3,411
106,213
8,789
3,780
106,977
9,285
4,381
106,992 '109,181
'9,976
9,509
'4,541
4,241
108,505
9,685
4,371
'3,730
'11,166
'16,855
'17,534
'26,724
'8,418
'86,655
3,946
10,829
16,616
17,020
23,421
6,472
88,757
4,120
11,317
16,574
17,864
28,391
10,211
90,290
4,067
11,187
16,124
18,054
26,757
8,550
89,015
4,056
11,155
16,800
17,378
27,074
10,697
90,341
4,250
11,724
16,499
18,803
29,500
9,758
91,076
3,709
10,847
16,021
15,915
24,213
6,581
91,089
4,056
11,244
16,814
17,053
27,302
7,848
92,401
4,293
11,576
17,209
16,479
30,253
9,975
93,186
4,149
11,219
17,667
19,709
28,028
9,055
93,647
4,398
11,036
17,583
18,353
29,571
10,277
94,405
'4,695
'11,603
'17,496
'19,672
'28,794
'9,636
'96,273
4,521
11,131
18,761
19,173
27,641
11,724
'21,964
22,878
23,503
23,448
23,581
23,726
23,966
24,277
24,458
24,471
24,089
'24,771
25,254
'64,691
65,879
66,787
65,567
66,760
67,350
67,123
68,124
68,728
69,176
70,316
'71,502
71,184
'12,524
'36,663
'31,819
'18,069
12,829
37,909
29,897
16,956
13,163
38,441
31,550
18,563
12,502
38,190
30,615
18,840
12,774
38,856
31,988
17,190
12,859
38,757
32,246
20,227
13,613
38,033
27,233
18,647
13,446
38,442
29,129
20,179
13,730
38,547
31,264
19,525
13,320
38,906
33,471
18,967
13,472
39,434
35,175
18,577
'13,668
'40,147
'34,653
'18,384
13,713
39,570
35,817
16,471
189,804
97,833
91,971
96,438
'14,931
14,526
15,036
15,130
15,123
15,377
15,424
16,122
16,288
15,830
15,607
'15,790
16,248
'72,328
72,769
77,005
74,130
75,068
77,576
73,685
77,015
80,045
80,130
79,132
'82,812
83,124
'5,820
'36,466
'26,404
'10,062
6,148
33,441
25,541
7,900
6,352
37,673
27,143
10,530
5,933
35,576
27,647
7,929
6,015
37,780
27,301
10,479
6,084
36,960
29,312
7,648
6,533
31,478
26,778
4,700
6,292
33,836
26,856
6,980
6,504
37,393
27,396
9,997
6,100
39,316
28,310
11,006
6,353
39,472
30,031
9,441
'6,396
'40,564
'29,987
'10,577
6,321
41,387
31,52
9,863
Aug.
September 1987
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
..
IT
LJnits
1984
Annual
1985
S-5
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
GENERAL BUSINESS INDICATORS-Continued
MANUFACTURERS' SHIPMENTS,
INVENTORIES, AND ORDERS tt_Continued
Unfilled orders, end of period (unadjusted),
total
mil. $
Durable goods industries, total
do..
Nondurable goods industries with
unfilled orders $
do..
Unfilled orders, end of period (seasonally
adjusted) total
mil. $
By industry group:
Durable goods industries, total #
do..
Primary metals
do..
Blast furnaces, steel mills
do..
Nonferrous and other primary metals
do..
Fabricated metal products
do..
Machinery, except electrical
do..
Electrical machinery
do..
Transportation equipment
do..
Aircraft,
missiles,
and
parts
do..
Nondurable goods industries with
unfilled orders $
do..
By market category:
Home goods and apparel
do..
Consumer staples
do..
Equip, and defense prod., excl.
auto
do..
Automotive equipment
do..
Construction materials, supplies, and
intermediate products
do..
Other materials, supplies, and
intermediate products
do..
Supplementary series:
Household durables
do..
Capital goods industries
do..
Nondefense
do..
Defense
do..
BUSINESS INCORPORATIONS @
New incorporations (50 States and Dist. Col.):
Unadjusted
number.
Seasonally adjusted
do...
INDUSTRIAL AND COMMERCIAL
FAILURES @
Failures, total
number.
,
Commercial service
do.
Construction
do...
Manufacturing and mining
do...
Retail trade
do...
Wholesale trade
do...
Liabilities (current), total
mil. $.
Commercial service
do...
Construction
do...
Manufacturing and mining
do...
Retail trade
do...
Wholesale trade
do...
Failure annual rate (seasonally adjusted)
No. per 10,000 concerns .
369,927
359,674
370,410
359,536
10,253
373,495
373,849
363,030
17,024
8,486
362,745
17,447
9,228
6,070
5,417
19,996
61,765
91,759
156,839
18,977
55,525
161,315
132,730
138,180
10,465
11,104
3,438
781
3,501
784
238,337
5,766
239,542
5,544
372,886
362,133
358,356
370,253
359,423
368,124
357,286
368,602
357,858
370,410
359,536
372,193
360,672
10,753
10,527
10,830
10,838
10,744
10,874
11,521
r
373,845
372,090
375,043
374,047
374,514
373,849
370,526
r
363,243
r
l 5,630
r
7,721
361,627
16,265
8,349
364,214
16,662
363,078
16,497
8,584
363,518
16,566
8,645
362,745
17,447
9,228
358,971
16,778
8,773
377,900
365,334
382,003
368,972
383,901 r385,183
370,981 r372,099
12,920
13,084
389,907
376,277
13,630
12,566
13,031
369,251
371,220
375,886
380,354 r385,217
357,302
16,634
8,716
358,765
17,028
8,986
362,995
17,822
9,762
367,510 r372,215
18,688 19,646
10,282 10,944
377,485
20,042
11,262
5,297
5,158
5,145
5,218
5,417
5,234
5,206
5,427
18,851
57,409
93,467
159,715
18,702
57,135
93,628
161,942
18,529
56,562
94,032
161,571
18,631
56,690
93,277
162,642
18,977
55,525
93,932
161,315
18,939
54,816
92,174
160,071
18,501
54,789
91,351
159,723
18,579
54,963
89,792
161,478
r
5,998
5,679
5,463
18,4411 18,415 18,816
r
56,017 56,185
55,544
91,656 r92,801
91,629
162,671 165,919 167,728
18,897
56,875
93,284
171,253
136,331
135,082
137,322
137,100
138,865
138,180
137,580
137,676
138,309
139,064
141,099 141,890
145,618
10,602
r
19,143
r
57,419
r
93,892
161,098
r
r
373,797
361,749
6,052
10,463
10,829
10,969
10,996
11,104
11,555
11,949
12,455
12,891
12,844
4,112
r
806
4,187
766
4,200
722
4,007
699
3,808
734
3,501
784
3,950
729
4,197
727
4,621
737
4,611
746
4,645
703
240,062
r
5,705
239,271
5,328
240,219
239,776
5,682
240,533
5,637
239,542
5,544
237,033
5,508
235,893
5,535
235,043
5,661
237,345
5,776
10,505
10,404
10,228
10,216
10,496
10,389
10,000
10,026
9,925
9,958
10,090
112,655
112,134
113,655
113,586
113,982
112,917
112,899
115,132
117,483
117,715 119,957
122,260
r
3,552
292,155
126,954
165,201
290,690
125,982
164,708
114,154
3,613
292,811
126,474
166,337
3,435
292,119
127,113
165,006
3,285
293,095
127,482
165,613
3,090
290,672
128,067
162,605
3,432
288,036
129,008
159,028
3,525
286,685
129,070
157,615
3,897
286,851
129,113
157,738
3,822
290,088
130,104
159,984
r
3,832
3,881
293,349 r296,624
133,161 135,296
160,188 161,328
3,788
301,064
138,740
162,324
58,598
57,789
52,531
55,647
55,476
57,310
59,764
57,190
48,098
56,453
65,692
54,401
54,455
55,406
59,385
65,536
60,907
'62,679
r
58,252
55,548
54,993
61,412
65,895
6,331
2,443
698
469
1,228
426
2,872.4
907.1
290.5
309.0
182.6
113.0
4,937
2,035
542
367
898
351
2,742 3
659.0
169.0
586.7
118.4
98.0
589
470
681
547
290
288
629
1,266
714
734
954
245
597
478
636
604
285
267
736
1,266
722
728
977
237
r
r
13,002
13,424
r
4,567
r
699
684
241,369 '244,022
r
6,014
6,009
247,314
5,963
5,448
10,496
114,285
113,982
2,912
289,266
129,814
159,452
3,090
290,672
128,067
162,605
662,047
702,101
r
9,913
r
10,300
57,252
16,647
7,004
5,662
13,501
4,835
61,183
20,911
7,035
5,641
13,509
4,808
4,335
1,531
517
381
932
325
5,904
2,016
693
605
1,256
451
4,468
1,543
541
424
930
366
6,172
2,185
689
545
1,376
466
4,644
1,725
519
432
1,022
364
4,579
1,759
517
422
870
324
5,613
2,103
596
472
1,176
370
5,390
1,993
559
483
1,171
386
5,603
2,149
36,914.1
6,472.6
2,011.9
7,162.6
2,908.4
2,831.6
43,961.0
8,375.2
1,862.5
9,269.0
2,740.2
1,958.3
7,609.1
917.7
83.0
2,400.7
145.9
95.5
3,685.0
755.8
256.0
748.9
321.0
112.0
3,377.2
436.5
126.9
1,529.5
200.8
134.7
4,099.5
712.2
168.2
326.0
224.0
207.6
1,973.8
502.5
93.1
264.2
207.7
86.6
3,867.9
782.6
170.5
250.2
156.1
83.9
3,446.6
867.5
131.7
611.7
257.5
118.5
2,921.1
852.1
134.9
386.0
415.6
194.7
2,662.7
619.5
599.5
398.1
172.0
148.0
1,905
562
445
1,060
388
2,024.8
708.4
209.9
217.9
171.4
97.4
550
428
595
462
254
271
620
1,273
678
820
824
284
552
429
741
431
249
274
594
1,260
682
813
845
268
558
430
704
403
247
280
647
1,268
692
789
877
262
560
440
785
422
253
280
628
1,274
685
764
880
253
573
442
703
444
264
283
613
1,266
710
752
932
256
1,069
368
COMMODITY PRICES
PRICES RECEIVED AND PAID BY
FARMERS t
Prices received, all farm products
1910-14 = 100.
Crops #
do...
Commercial vegetables
do...
Cotton
do...
Feed grains and hay
do...
Food grains
do...
Fruit...S,
do...
Tobacco
do...
Livestock and products #
do...
Dairy products
do...
Meat animals
do...
Poultry and eggs
do...
Prices paid:
Production items
do...
All commodities and services, interest, taxes,
and wage rates (parity index)
1910-14 = 100.
Parity ratio §
do...
CONSUMER PRICES 0
(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
ALL ITEMS, WAGE EARNERS AND
CLERICAL WORKERS, REVISED
(CPI-W)
1967 = 100
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
585
518
633
474
385
365
669
1,492
654
779
802
271
560
459
644
462
309
300
618
1,339
666
766
817
293
572
459
588
519
307
247
642
1,348
690
734
857
324
573
439
610
395
274
249
695
1,243
713
752
887
337
558
420
651
404
243
250
641
1,320
704
783
874
310
555
420
662
398
240
253
671
1,266
697
807
848
313
567
442
710
453
250
266
706
1,273
699
820
848
311
r
583
r
457
r
667
'605
r
272
'252
r
620
1,233
r
715
r
734
r
960
239
874
839
836
824
829
852
861
1,120
52
1,097
51
1,097
52
1,089
51
1,091
51
1,116
51
1,127
52
318.5
323.4
322.9
322.2
328.4
303.9
323.3
317.7
306.7
328.6
322.6
323.4
324.9
325.0
325.4
325.7
327.7
329.0
330.5
332.3
333.4
334.9
335.6
328.0
328.6
330.2
330.5
330.8
331.1
333.1
334.4
335.9
337.7
338.7
340.1
340.8
306.1
328.0
322.1
306.4
328.1
322.6
307.9
330.0
324.2
307.8
330.2
324.4
308.0
330.4
324.5
308.3
330.6
324.8
310.3
332.2
326.7
311.5
333.6
328.0
312.9
335.4
329.4
314.6
337.3
331.1
315.6
338.3
332.2
317.1
339.6
333.5
317.4
340.5
334.1
569
422
632
499
257
252
544
1,230
724
746
966
250
319.0
342.7
336.0
September 1987
SURVEY OF CURRENT BUSINESS
S-6
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
., .
Annual
1985
1984
1987
1986
1986
July
Aug.
S.P,
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
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...
Food #
do...
Food at home
do...
Housing
do...
Shelter #
do...
Rent, residential
do...
Homeowners' cost
Dec. 1982=100.
Fuel and utilities #
1967 = 100.
Fuel oil, coal, and bottled
gas
do...
Gas (piped) and electricity
do...
Household furnishings and operation
do...
Apparel and upkeep
do...
Transportation
do...
Private
do...
New cars
do...
Used cars
do...
Public
do...
Medical care
do...
Seasonally Adjusted +
All items, percent change from
previous month
Commodities
Commodities less food
Food
Food at home
Apparel and upkeep
Transportation
Private
New cars
Services
286.7
293.2
277.2
270.7
272.5
381.5
309.8
PRODUCER PRICES §
'(U.S. Department of Labor Indexes)
Not Seasonally Adjusted
All commodities
1967 = 100
By stage of processing:
Crude materials for further
processing
do..
Intermediate materials, supplies, etc
.do..
Finished goods #
.do.,
.do.
Finished consumer goods
.do.
Capital equipment
By durability of product:
Durable goods
.do.
Nondurable goods
.do.
Total manufactures
.do.
..do.
Durable manufactures
..do.
Nondurable manufactures
Farm products, 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 equip. #
Dec. 1968 = 100.
Motor vehicles and equip
1967 = 100 .
See footnotes at end of tables.
291.4
299.1
269.6
273.0
268.9
412.8
331.0
316.9
367.7
418.0
288.8
123.6
374.2
292.3
300.0
270.0
273.6
269.4
414.2
332.5
318.8
368.9
419.2
289.4
124.0
377.5
292.8
300.5
269.8
274.2
269.5
416.7
334.1
320.4
371.3
420.2
289.6
124.2
387.6
292.8
300.1
269.5
274.9
269.6
418.3
333.6
319.1
372.5
422.1
291.2
124.4
388.1
294.2
302.3
273.1
274.6
271.6
420.7
333.8
319.0
374.9
425.1
293.1
125.4
391.1
487.9
503.2
428.9
500.6
428.7
500.5
425.9
497.7
433.3
498.6
456.8
497.9
454.8
502.3
459.4
253.1
207.1
308.5
299.8
233.0
354.6
438.9
449.6
253.5
254.3
255.2
208.4
310.0
301.3
230.2
356.9
439.8
452.4
215.2
310.6
301.9
229.4
363.0
441.4
455.0
218.7
313.3
304.8
230.4
371.6
440.8
457.3
254.9
218.0
314.6
306.3
231.3
378.6
439.6
458.9
254.9
214.5
316.7
308.6
232.0
383.0
438.1
461.3
255.1
210.5
318.5
310.5
232.7
385.5
438.3
464.1
214.7
320.2
312.0
232.1
385.7
442.8
466.1
.7
286.6
263.5
328.6
314.0
210.4
308.3
299.6
231.8
409.6
.4
287.9
264.8
329.6
315.3
211.8
309.8
301.2
229.3
411.1
.4
289.3
267.0
329.2
314.1
215.4
311.8
303.2
229.4
412.6
.4
290.8
268.8
330.2
315.2
218.6
313.4
305.0
230.4
291.9
269.5
332.0
318.0
219.1
314.4
306.0
231.1
.4
293.0
270.0
334.4
320.7
217.3
316.0
307.9
232.0
.2
293.5
271.0
333.8
319.1
215.9
317.8
309.8
233.2
418.0
302.2
302.7
'305.0
284.0
289.2
257.4
271.8
261.2
406.1
324.6
309.9
361.7
410.2
285.6
121.5
371.1
284.2
289.5
257.5
271.7
261.2
406.6
325.2
310.2
362.1
410.4
286.0
121.6
371.0
286.3
292.1
259.2
272.4
262.5
408.6
447.3
464.5
453.5
461.1
451.9
441.4
452.0
426.7
460.6
425.3
250.5
250.5
207.0
301.3
292.8
224.7
358.0
428.0
437.5
251.5
212.1
302.2
293.7
224.5
359.5
428.5
439.7
251.6
213.2
302.6
294.1
227.1
360.6
428.7
442.3
251.2
213.1
304.3
295.8
230.7
361.0
431.7
444.6
252.4
203.2
304.7
296.5
224.7
360.3
428.0
434.8
.0
282.2
261.2
320.2
305.6
207.1
304.2
296.0
225.2
.2
282.2
259.9
322.7
308.7
.3
283.2
260.8
323.9
309.9
208.9
302.2
293.8
226.4
403.9
.2
283.2
260.2
325.2
311.1
209.0
302.5
294.1
228.0
.2
283.6
260.1
326.5
312.3
209.6
303.6
295.1
229.7
406.7
.2
283.9
260.2
327.2
312.6
209.5
303.6
294.8
230.9
281.9
287.4
255.6
269.0
259.0
403.7
349.9
382.0
264.6
113.1
393.6
619.5
452.7
501.5
446.7
459.4
462.3
247.2
250.4
206.0
319.9
314.2
215.2
379.7
402.8
403.1
207.8
307.5
299.5
224.4
363.2
426.4
433.5
322.7
362.4
405.2
281.7
119.9
208.0
301.3
292.9
225.9
403.0
405.3
210.9
304.8
295.9
232.2
356.6
437.5
446.8
407.8
328.9
315.2
363.9
412.3
287.1
122.0
373.7
297.4
308.7
255.4
.5
294.5
272.3
333.9
318.7
216.0
320.0
311.8
233.3
420.3
306.1
280.3
277.7
276.3
275.4
277.2
279.2
277.0
284.1
287.2
288.6
r
295.3
304.7
307.8
307.7
318.7
293.7
291.8
300.5
307.6
289.7
284.9
306.4
304.8
287.6
282.3
306.4
304.5
288.1
283.0
306.2
306.1
287.3
282.5
303.9
304.8
290.7
285.2
309.9
304.8
290.'
285.1
310.4
305.0
290.4
284.8
310.1
307.0
291.8
286.2
311.2
308.9
292.3
287.1
310.7
309.3
292.6
287.5
310.5
'311.0
r
294.9
r
290.1
'311.8
312.7
296.3
292.0
311.9
314.8
296.8
292.'
311.6
317.1
297.8
293.8
312.1
318.2
297.2
293.0
312.1
297.3
317.2
304.3
298.1
310.
300.0
298.8
297.6
300.8
294.0
300.0
294.5
295.2
300.9
289.1
299.9
294.2
295.5
300.8
289.7
298.8
295.6
296.0
299.6
292.1
302.2
294.4
297.0
303.1
290.4
302.4
294.8
297.1
302.1
294.7
297.:
302.9
291.0
302.9
298.2
299.5
302.8
300.7
300.7
303.5
297.4
303.4
301.1
300.8
304.1
297.0
304.3
304.9
308.0
304.4
305.5
302.9
309.8
305.4
305.4
304.9
312.0
306.8
306.3
306.8
306.9
312.0
307.5
306.9
307.7
250.5
230.5
260.4
251.9
225.2
265.1
312.2
299.8
254.2
228.6
266.8
308.5
298.4
255.5
227.0
269.6
307.9
297.0
254.0
224.1
269.0
255.5
230.1
267.9
309.8
298.6
254.'
227.4
268.2
309.8
298.1
251.6
220.8
266.8
313.5
301.1
252.8
222.9
267.6
314.9
302.8
252.0
223.3
266.2
315.7
304.9
r
257.1
r
297.5
254.8
227.4
268.4
309.6
298.:
317.3
307,
263.6
241.1
274.7
318.6
309.3
263.0
239.1
274.8
320.:
313.0
261.8
236.3
274.4
322.6
313.9
258.6
231.1
2721
323.8
312.8
483.
224.0
296.7
305.3
303.
311.2
352.1
335.3
245.9
211.2
276.0
274.2
444.3
224.1
297.4
306.8
303.9
310.4
352.9
335.!
245.4
211.4
275.'
273.3
438.4
224
297.0
307.2
304.1
311.1
351.8
336.4
246.:
211.:
274.7
272.0
452.6
224.2
296.4
308.8
304.2
311
351.4
337.8
245.'
211.1
268.4
264.2
438.8
224.6
297.8
307.1
304.5
311.9
351.3
339.4
245.1
211.2
282.6
284.3
438.5
224.9
299.3
307.5
304.9
312.0
351.1
340.4
244.
211.3
282,
283.9
439.6
224.9
301.6
306.8
305.2
311.7
350.0
340.9
244.2
211
281.5
282.7
461.6
225.5
301.9
307.9
306.1
312.8
350.0
345.0
245.0
212.0
282.3
283.0
471.5
225.'
302.0
311.6
306.5
313.2
350.8
347.4
245.1
212.1
279.9
278.7
473.2
226.1
305.9
314.8
306.
313.8
351.:
348.1
244.8
212.5
280.5
279.2
'478.9
'226.8
r
310.6
'315.2
'306.7
r
315.0
'351.9
r
349.2
245.6
'213.1
'282.2
r
282.2
485.7
227.1
316.6
315.1
307.2
317.7
351.3
349.1
246.1
213,
281.'
281.1
494.0
227.0
316.:
317.0
306.7
319.0
352.3
349.7
247.0
214.3
281.6
280.7
505.7
227.4
317.8
320.
307.8
321.9
352.6
351.5
248.3
215.5
280.5
280.5
511.8
228.0
318.5321.7
308.2
324.7
352.9
352.7
249.2
215.9
279.4
278.6
276.'
304.'
287.2
281.
279.6
277.9
246.4
301.7
306.3
277.2
304.5
288.3
283.1
283.5
277.9
246.3
301.9
306.6
276.8
305.7
289.1
283.8
283.3
279.1
247.6
303.0
307.6
280.9
304.8
290.1
284.8
285.9
279.2
251.0
300.7
279.0
304.'
290.2
284.'
285.3
279,
252.2
300.1
309.8
276.6
304.7
290
284.8
284.0
280.2
252.0
301
310.2
282.6
307.5
291.7
286.2
279.0
285.0
252.7
308.9
310.8
285.8
309.1
291.9
286.7
278.8
285.9
250.0
311.7
310.1
310.1
293.
288.7
279.1
288.7
250.6
316.0
310.5
'295.5
311.2
'295.1
'290.6
306.0
314.6
296.9
292.
251.9
317.
311J
307.8
317.0
297.4
293.3
287.0
291.5
252.6
319.2
312.1
309.1
318.2
297.4
'252.5
'316.0
'311.3
304.8
312.8
296.2
291.
287.
289.2
252.0
315.9
311.6
.34'
.304
.348
.303
.34.303
.343
.300
.342
.299
.342
.298
.339
.296
.337
.291
.337
.294
.336
.293
633.6
221.6
286.1
303.6
298.9
314.9
347.8
327.:
245.9
210.4
269.5
267
Seasonally Adjusted t
Finished goods, percent change from previous
month
By stage of processing:
Crude materials for further processing
1967 = 100.
Intermediate materials, supplies, etc
do...
Finished goods #
do...
Finished consumer goods
do...
Foods
doFinished 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...
289.5
296.8
266.4
271.7
266.5
411.2
330.0
315.8
366.4
415.9
288.3
123.0
374.9
283.6
289.0
257.8
270.5
260.9
406.1
323.7
309.5
363.0
409.5
284.6
121.3
379.1
281.9
287.1
257.3
269.6
260.2
402.3
320.1
305.5
361.5
403.5
281.2
119.4
389.4
1967 = 100.
do...
do...
do...
do....
do..
do..
do..
do..
287.7
294.6
262.6
271.2
264.0
409.9
330.1
316.6
365.1
414.0
288.0
122.5
374.8
283.5
289.4
258.9
269.3
261.1
405.5
323.2
309.0
363.7
407.6
283.2
120.7
388.3
262.2
270.2
263.4
400.5
319.7
305.3
360.2
402.9
280.0
119.4
384.7
.340
.310
.345
.304
r
304.4
r
303.0
305.0
'300.
231.9
r
r
293.3
251.8
322.5
312.6
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
Annual
BUSINESS STATISTICS: 1984
1985
S-7
1987
1986
„L ) n..l t s
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE @
New construction (unadjusted), total
mil. $
Private, total #
do..
Residential
do..
New housing units
do..
Nonresidential buildings, except farm and
public utilities, total #
mil. $
Industrial
do...
Commercial
do..
Public utilities:
Telephone and telegraph
do..
Public, total #
do..
Buildings (excl. military) #
do..
Housing and redevelopment
do..
Industrial
do..
Military facilities
do..
Highways and streets
do..
New construction (seasonally adjusted at
annual rates), total
bil. $.
Private, total #
do...
Residential
do...
New housing units
do...
Nonresidential buildings, except farm and
public utilities, total #
bil. $.
Industrial
do...
Commercial
do...
Public utilities:
Telephone and telegraph
do...
Public, total #
do...
Buildings (excl. military) #
do...
Housing and redevelopment
do...
Industrial
do...
Military facilities
do...
Highways and streets
do...
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F.W. Dodge
Division, McGraw-Hill):
Valuation, total
mil. $.
Index (mo. data seas, adj.)
1982=100 .
Public ownership
mil. $.
Private ownership
do...
By type of building:
Nonresidential
do...
Residential
do...
Non-building construction
do...
New construction planning
(Engineering News-Record) *
do...,
HOUSING STARTS AND PERMITS
New housing units started:
Unadjusted:
Total (private and public)
thous .,
Privately owned
do...
One-family structures
do...
Seasonally adjusted at annual rates: <)
Total privately owned
do...
One-family structures
do...
New private housing units authorized by building
permits (17,000 permit-issuing places): t
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...
CONSTRUCTION COST INDEXES
Dept. of Commerce composite t
1982=100 .
Boeckh indexes:
Average, 20 cities:
Apartments,
hotels,
office
buildings
1982=100..
Commercial and factory buildings
do....
Residences
do....
Engineering News-Record:
Building
1967 = 100.
Construction
doFederal Highway Adm.—Highway construction:
Composite (avg. for year or qtr.)
1977 = 100 .
See footnotes at end of tables.
355,994 388,818
291,665 316,589
158,474 187,148
114,662 133,192
38,314
30,352
19,231
12,983
36,787
29,770
17,880
12,818
33,446
27,531
16,712
12,043
29,241
24,156
13,469
10,180
25,536
20,913
12,049
9,302
26,065
21,667
12,683
8,730
28,435
23,520
14,049
10,294
30,563
17,798
12,957
37,677
30,055
18,861
13,043
24,860
15,003
10,976
'33,901
r
27,680
'17,030
'11,927
'36,861
'29,940
'19,377
'12,691
36,026
28,774
18,449
13,332
7,913
1,154
4,970
7,972
1,174
4,987
8,363
1,333
5,077
7,678
1,148
4,720
7,482
1,171
4,509
6,322
897
3,772
909
3,855
6,693
872
4,020
6,864
900
4,143
7,452
1,105
4,475
'7,149
'1,028
'4,257
6,945
940
4,114
724
760
7,962
2,393
137
170
423
2,822
7,016
2,114
124
118
297
2,595
692
5,915
2,070
141
119
334
1,683
5,085
1,903
119
121
359
1,190
528
4,623
1,896
125
139
342
960
1,813
119
117
234
849
673
4,915
1,959
132
151
324
1,059
678
5,702
2,039
112
103
312
1,428
711
6,221
2,142
118
139
344
1,942
767
'6,921
'2,137
'125
118
'343
'2,420
7,253
2,294
123
109
360
2,551
'397.7
'322.7
'195.9
'139.4
'392.4
'320.0
'198.3
'138.3
391.8
318.6
198.2
139.7
'13.3
'53.4
'12.1
'49.6
81.4
11.3
48.0
8.2
'72.3
'24.0
1.5
1.4
4.1
'21.7
73.2
25.3
1.5
1.3
4.3
21.8
36,001
95,317
15,769
59,628
91,171
13,747
56,761
7,575
1,088
4,723
7,484
8,427
72,228
23,494
1,456
1,657
3,919
23,359
765
7,305
2,198
122
150
298
2,782
20,172
1,511
1,968
3,283
21,756
7,622
2,240
137
126
347
2,937
557
391.0
318.4
191.9
136.5
395.3
322.6
194.0
136.5
400.1
324.9
198.8
137.6
394.9
322.9
192.6
139.0
390.6
320.4
194.5
138.5
380.2
306.8
181.7
137.6
384.7
310.2
187.8
137.3
401.6
326.5
203.1
137.0
190.8
139.5
397.1
320.8
199.5
139.7
88.4
12.9
54.7
90.5
13.2
56.6
13.0
55.2
92.2
14.6
56.1
88.9
13.4
54.2
89.7
13.2
54.8
85.1
12.1
50.9
87.6
12.1
53.1
86.4
11.4
52.3
84.9
11.5
50.9
8.6
24.1
1.5
1.8
8.3
72.7
23.8
1.6
1.5
4.2
23.7
8.7
71.9
24.0
1.5
1.4
3.6
22.6
8.4
70.2
24.7
1.7
1.4
4.0
20.0
8.2
73.3
24.9
1.4
1.5
4.3
21.9
8.1
74.5
25.1
1.5
1.7
4.1
23.5
8.1
75.2
25.7
1.4
1.4
2.8
23.3
8.2
76.1
26.1
1.6
1.8
3.9
23.6
8.2
76.3
25.3
1.3
1.2
3.6
23.4
8.5
75.2
25.7
1.6
2.0
5.1
22.6
3.7
22.7
'8.6
'75.0
'26.1
1.4
1.7
4.1
'22.6
'21,844
155
r
5,107
'16,737
19,852
155
4,908
14,943
21,076
151
5,211
15,865
17,367
156
3,753
13,614
17,163
155
4,418
12,745
15,759
155
3,865
11,894
14,594
151
3,411
11,183
21,684
165
5,674
16,009
22,599
162
5,801
16,798
21,469
149
6,079
15,391
24,712
161
7,114
17,598
24,004
163
6,515
17,489
23,914
175
5,938
17,977
r
7,484
10,710
r
3,649
6,876
9,950
3,026
7,124
10,636
3,316
6,624
8,361
2,382
5,584
8,034
3,545
5,800
7,350
2,608
4,700
7,518
2,375
7,290
10,628
3,766
7,153
11,276
4,170
6,750
10,260
4,459
8,227
10,986
5,498
8,125
11,279
4,600
8,358
10,919
4,637
29,793
28,216
23,248
24,192
20,378
22,429
72.6
232,277
'148
54,601
177,676
243,254
'155
59,367
23,621
157
6,386
17,235
83,151
108,662
40,464
81,304
120,637
41,314
7,853
11,463
4,305
288,568
29,594
20,127
24,069
1,807.1
1,805.4
1,179.4
172.2
172.0
113.5
163.8
163.8
109.4
154.3
154.0
102.5
154.9
154.8
100.9
115.7
115.6
77.5
113.1
113.0
72.2
105.1
105.1
'69.2
102.8
102.8
71.8
141.3
141.2
100.4
159.4
159.3
118.3
158.3
158.0
114.1
'163.2
'162.9
'114.1
154.0
'153.8
'112.7
143.6
100.2
1,786
1,147
1,800
1,180
1,689
1,123
1,657
1,114
1,637
1,129
1,813
1,233
1,816
1,253
1,838
1,303
T,2ll
1,643
1,208
1,606
1,130
'1,586
'1,088
'1,606
'1,150
1,582
1,098
1,778
1,098
1,728
1,059
1,687
1,071
1,664
1,036
1,667
1,028
1,862
1,184
1,652
1,085
1,676
1,204
1,719
1,150
1,598
1,058
1,493
1,009
1,517
1,039
'1,487
993
1,486
1,010
20.3
21.6
21.5
23.1
17.2
15.8
16.0
16.3
19.6
21.1
20.2
21.5
21.0
231
243
241
237
251
242
231
228
227
222
231
245
112.3
112.3
1,745.0
1,741.8
1,072.4
1,733
957
1,769
1,078
112.3
113.0
111.3
115.1
114.9
113.2
117.3
114.9
113.3
117.3
358.7
390.1
367.3
398.5
369.3
402.4
r
23,124
115.6
113.8
118.1
402.3
370.0
402.5
116.1
114.0
118.6
371.4
404.2
371.3
404.0
116.7
114.3
119.0
116.6
114.3
119.0
371.5
404.8
167.0
372.0
405.1
371.4
404.9
372.4
405.5
117.3
115.2
119.7
117.1
115.0
119.4
373.2
405.9
373.4
406.5
372.8
408.4
375.7
410.0
2
377.6
2
411.0
September 1987
SURVEY OF CURRENT BUSINESS
S-8
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
Annual
„U m..t s
1985
1984
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
CONSTRUCTION AND REAL ESTATE—Continued
REAL ESTATE 0
Mortgage applications for new home construction:
10.1
13.8
14.2
FHA applications
thous. units..
14.0
15.1
24.7
27.5
22.3
16.7
16.2
21.7
20.2
17.9
18.9
180.8
325.5
117
158
162
Seasonally adjusted annual rates
do....
161
155
289
302
252
228
280
255
242
243
232
14.4
17.1
Requests for VA appraisals
do....
16.9
15.6
17.2
23.2
18.0
13.2
13.5
17.5
20.7
243.4
14.1
14.5
215.0
166
184
185
198
213
203
211
241
220
208
Seasonally adjusted annual rates
do....
177
258
1851
Home mortgages insured or guaranteed by:
8,901.74
Fed. Hous. Adm.: Face amount
mil. $.. 23,963.94 57,108.02 4,434.27 6,551.19 5,309.03 5,135.49 7,018.80 5,585.99 5,955.13 5,519.57 9,220.25 9,035.56 9,265.48 7,502.49
Vet. Adm.: Face amount §
do.... 13,047.56 24,721.62 1,942.20 2,656.80 3,466.86 2,024.13 2,257.13 2,768.00 2,718.07 3,254.93 4,419.78 3,021.48 2,621.57 3,424.22 2,978.52 2,819.12
Federal Home Loan Banks, outstanding advances
to member institutions, end of
period
mil. $..
99,036 100,310 101,109 108,645 104,250 104,376 106,760 108,820 111,665 114,335 115,321 116,846
98,360
97,373
88,835 108,645
New mortgage loans of all operating thrift
institutions, estimated total @
mil. $.. 199,435 267,680
23,546
'24,843 '27,978
'24,736
16,070
25,187
25,623
22,020
15,338
31,848
25,212
25,767
By purpose of loan:
r
Home construction
do....
2,651
'2,579 r r 3,008
2,244
2,107
2,461
2,733
28,005 r29,059
2,398
1,858
2,956
2,712
2,489
1,589
Home purchase *
do.... 124,166 197,093
18,134
21,517
15,067
20,013
19,903
19,523 19,675
22,886
19,018
19,383
11,818 11,926 16,522
r
r
r
r
r
2,761
3,454
All other purposes *
do....
2,590
3,294
2,987
47,264 r41,521
3,099
6,005
2,758
3,481
3,314
2,285
1,930
DOMESTIC TRADE
ADVERTISING
Magazine advertising (Leading National
Advertisers):
Cost, total .
Apparel and accessories ....
Automotive, incl. accessories.
Building materials
Drugs and toiletries
Foods, soft drinks, confection-
mil $
do
do
do
do....
Beer, wine, liquors
do
Houshold equip., supplies, furnishings
do
Industrial materials
do
Soaps, cleansers, etc . .
do
Smoking materials
do
All other
do
Newspaper advertising expenditures (Newspaper
Advertising Bureau, Inc.):
Total
mil $
Classified
do....
National
.. do
Retail
do
25,170
8,376
3,352
13 443
26,989
9,303
3,376
14 311
WHOLESALE TRADE t
Merchant wholesalers sales (unadj.),
total
mil. $.. 1,373,926 1,381,311
Durable goods establishments
do.... 626,749 664,108
Nondurable goods establishments
do.... 747,177 717,203
Merchant wholesalers inventories, book value
(non-LIFO basis),
end of period (unadj.), total
mil. $.. 137,139 148,245
Durable goods establishments
do....
95,353
86,984
Nondurable goods establishments
do....
52,892
50,155
2,073
794
227
1 053
2,309
860
258
1 191
2,187
798
280
1 109
2,519
845
328
1 346
2,668
801
333
1 534
2,363
644
231
1 489
2,058
777
264
1 017
2,089
778
262
1 049
2,457
924
304
1 229
2,516
907
302
1 307
115,561
56,415
59,146
112,208
54,282
57,926
118,772
58,368
60,404
124,995
62,287
62,708
113,152
54,350
58,802
121,499
58,033
63,466
110,564
51,319
59,245
111,705
52,834
58,871
126,908
61,100
65,808
126,354
61,161
65,193
125,630 129,016
59,270 '63,423
66,360 '65,593
125,759
61,310
64,449
146,279
97,005
49,274
145,882
96,958
48,924
147,964
97,991
49,973
149,009
97,153
51,856
148,804
97,210
51,594
148,245
95,353
52,892
149,548
95,895
53,653
150,166
95,989
54,177
150,882
97,667
53,215
150,853
98,249
52,604
151,371 152,651
100,083 100,288
51,288 '52,363
151,075
99,727
51,348
106,393
37,769
105,802
40,164
120,440
47,537
125,367
49,844
129,073 128,978 128,900 ' 130,322
50,691 '53,118 '51,768 '51,682
5,641
20,897
5,519
24,048
7,022
29,177
7,989
30,408
6 288
68,624
9,276
24,961
6,641
5,377
11,843
4,182
1 474
118 579
43,766
5 797
65,638
9,648
22,746
6,392
5,233
11,412
3,940
1 363
124 280
47,365
6 398
72,903
11,794
24,449
7,075
6,524
12,513
4,164
1 440
124 593
47,942
RETAIL TRADE t
All retail stores:
Estimated sales (unadj.), total
mil. $.. 1,379,621 1,454,411 121,446 124,721 125,444 123,835 121,365 152,106
Durable goods stores #
do.... 517,981 568,057
44,469
48,578
48,479
54,806
49,027
56,692
Building materials, hardware, garden
supply, and mobile home dealers
mil. $..
6,958
6,936
8,148
7,993
88,093
7,980
8,242
75,556
Automotive dealers
do.... 311,859 335,822
24,224
35,043
29,061
28,795
29,542
28,072
Furniture, home furnishings,
and equipment
do
7 290
6 822
6 572
78 487
9 493
6 681
6 529
69 584
Nondurable goods stores
do.... 861,640 886,354
76,896
75,356
70,638
75,694
72,868
95,414
General merch. group stores
do.... 149,592 155,262
15,512
12,907
11,757
13,055
11,485
24,038
Food stores
do.... 283,987 296,040
24,748
25,284
23,837
25,396
25,643
26,938
Gasoline service stations
do.... 101,266
6,711
7,061
6,911
7,430
86,618
6,922
7,149
5,947
Apparel and accessory stores
do....
7,570
6,826
6,449
7,106
74,321
80,775
11,426
12,952
Eating and drinking places
do.... 133,457 144,966
11,863
12,762
12,119
13,452
12,476
4,041
Drug and proprietary stores
do....
4,044
4,113
3,910
4,072
46,191
49,316
5,648
1 746
Liquor stores
do
1 622
1 630
1 549
1 695
19 491
19 792
2 224
Estimated sales (seas, adj.), total.
do
1 2 0 478 1 2 1 839 128 952 122 121 121 678 127 613
Durable goods stores #
do...
55,010
'46,587 '48,008
47,408
47,800
52,579
Bldg. materials, hardware, garden sup7,516
'7,314
ply, and mobile home d e a l e r s *
mil. $.
7,365
7,503
'7,396
7,504
supply stores .. .
Hardware stores
Automotive dealers
Motor vehicle and miscellaneous
auto dealers
Auto and home supply
stores
Furniture, home furnishings,
and equipment #
Furniture, home furnishings stores
Household appliance, radio, and
TV stores
See footnotes at end of tables.
8,607
30,220
'8,629
'32,308
'8,310
'31,369
'8,027
'31,354
'6,639
'6,672
'6,515
6 390
6 228
78,382 '75,860 '77,132 '78,640
75,523
13,711 12,718 12,059 ' 13,484
12,871
26,215 '25,435 '26,761 ' 25,862
24,884
'8,069
'8,142
'7,817
7,637
7,385
'7,337
'6,419
'6,605
6,961
7,161
13,457 13,305 13,801 ' 13,967
12,809
'4,298
'4,346
4,360
'4,351
4,296
1668
1 625
1 505
1583
124,960 124,867 126,307 126,990 ' 128,607
47,783 '48,981 '49,358 '50,482
48,135
7,424
7,652
7,707
7,452
7,505
'7,430
'7,417
'7,337
do
do
do...
'5,446
'904
'27,114
5,502
'913
'28,325
5,478
906
35,231
5,554
920
27,983
5,548
904
27,566
5,743
889
32,388
5,701
974
23,729
5,851
999
26,968
5,863
1050
27,780
5,684
1050
28,101
5,736
1019
27,781
'5,827
'958
'28,947
5,829
986
'29,173
'30,490
do...
'24,918
'26,088
32,961
25,740
25,348
30,256
21,513
24,709
25,529
25,874
25,546
'26,671
'26,887
'28,203
do...
'2,196
'2,237
2,270
2,243
2,218
2,132
2,216
2,259
2,251
2,227
2,235
'2,276
2,286
do
'6 663
'6 685
6 698
6 720
6 825
6 851
6 763
6 812
6 803
6 777
6 704
'6 683
'6 822
do...
'3,513
'3,539
3,574
3,584
3,591
3,618
3,570
3,650
3,643
3,664
3,622
'3,640
3,704
do...
'2,688
'2,683
2,636
2,657
2,730
2,735
2,727
2,687
2,692
2,647
2,602
'2,564
2,645
' 6 720
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
,,U n l..t s
Annual
1985
BUSINESS STATISTICS: 1984
S-9
1987
1986
1986
Aug.
July
Sept.
Oct.
Nov.
Dec.
Aug.
Jan.
Feb.
Mar.
Apr.
May
June
July
r
77,326
13,649
r
77,632
13,685
1
1
11,607
r
708
'25,482
r
24,063
r
7,459
11,687
706
'25,429
r
23,968
'7,645
11,745
DOMESTIC TRADE—Continued
RETAIL TRADE t—Continued
All retail stores—Continued
Estimated sales (seas, adj.)—Continued
Nondurable goods stores
mil. $
General merch. group stores
do..
Department stores excluding
leased departments
do..
Variety stores
do..
Food stores
do..
Grocery stores
do..
Gasoline service stations
do..
Apparel and accessory stores #
do...
Men's and boys' clothing and
furnishings stores
do...
Women's clothing, specialty stores,
and furriers
do...
Shoe stores
do...
Eating and drinking places
do...
Drug and proprietary stores
do...
Liquor stores
do...
Estimated inventories, end of period:
Book value (non-LIFO basis),
(unadjusted), total
mil. $.
Durable goods stores #
do...
Bldg. materials, hardware, garden supply, and mobile home dealers
do...
Automotive dealers
do...
Furniture, home furnishings,
and equipment
do...
Nondurable goods stores #
do...
General
merch.
group
stores
do...
Department stores
do...
Food stores
do...
Apparel and accessory
stores
do...
Book value (non-LIFO basis),
(seas, adj.), total
do...
Durable goods stores #
do...
Bldg. materials, hardware, garden supply, and mobile home dealers
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....
Firms with 11 or more stores:
Estimated sales (unadj.), total
mil. $
Durable goods stores
do..
Auto and home supply stores
do.
Nondurable goods stores #
do..
General merchandise group
stores
do.
Food stores
do..
Grocery stores
do.
Apparel and accessory stores
do.
Eating places
do.,
Drug stores and proprietary
stores
do.
Estimated sales(sea. adj.), total #
do.
Auto and home supply stores..
do.
Department stores excluding
leased departments
do.
Variety stores
do.
Grocery stores
do.
Apparel and accessory stores
do
Women's clothing, specialty stores,
and furriers
do
Shoe stores
do
Drug stores and proprietary
stores
do
r
73,891
13,045
'73,831
13,127
73,942
12,941
74,321
13,013
74,270
12,879
75,034
13,035
74,813
13,078
76,915
13,665
76,651
13,421
76,825
13,521
77,084
13,709
r
ll,085
r
663
24,744
23,302
r
6,983
11,224
679
r
24,426
'22,940
r
6,835
11,087
658
11,090
688
11,013
644
11,078
685
11,126
724
11,591
754
11,389
737
11,481
739
11,635
720
24,847
23,336
6,883
25,016
23,487
6,842
25,094
23,587
6,876
25,311
23,746
6,813
25,028
23,588
6,918
25,252
23,806
7,182
25,244
23,855
7,385
25,267
23,880
7,497
25,337
23,945
7,436
'6,706
'6,912
6,793
6,848
6,794
6,935
6,689
7,097
7,222
7,002
802
787
r
801
r
r
771
812
796
r
7,140
r
2,834
1,227
12,127
4,145
1,669
'2,864
1,334
2,874
1,245
2,887
1,262
2,872
1,265
2,966
1,299
2,865
1,288
2,997
1,358
2,951
1,408
2,939
1,303
12,251
r
4,172
1,635
12,192
4,164
1,631
12,354
4,188
1,663
12,435
4,191
1,593
12,770
4,221
1,585
12,929
4,298
1,592
13,147
4,297
1,628
12,755
4,293
1,600
12,745
4,339
1,620
2,957
1,307
12,743
4,404
1,638
811
1
182,627
92,286
185,444
90,339
198,292
97,192
199,726
98,621
181,366
93,330
96,427
189,373
99,991
196,025
103,361
198,390
103,677
197,831
104,417
198,219
104,642
13,780
46,550
14,078
48,162
14,934
50,333
14,726
45,564
15,063
42,255
14,791
47,721
14,623
48,997
14,078
48,162
13,918
51,779
14,812
55,077
15,278
57,298
15,188
56,820
15,684
r
56,674
15,800
56,582
13,373
14,627
13,912
88,350
14,314
14,666
15,369
15,608
14,627
14,317
14,058
14,154
14,625
90,341
95,105
101,100
101,105
88,036
86,951
89,382
92,664
94,713
14,786
'93,414
14,766
93,577
28,606
22,597
18,591
29,253
23,747
19,379
30,885
24,491
18,373
31,685
25,191
18,549
33,979
27,107
19,172
37,108
29,814
20,119
37,016
29,972
20,242
29,253
23,747
19,379
29,072
23,385
30,575
24,632
18,976
25,695
19,213
33,120
26,916
19,188
'32,047
'26,012
19,094
31,762
25,641
19,285
15,852
16,213
17,055
17,657
18,366
19,344
19,329
16,213
16,121
17,229
18,542
18,901
18,873
18,857
179,671
90,791
187,158
94,935
187,935
187,483
97,387
186,034
94,337
190,645
97,810
189,264
97,041
187,158
94,935
189,000
96,606
190,527
97,931
193,355
99,293
195,042
99,767
197,088
101,876
199,901
103,494
14,429
46,550
14,757
48,128
14,904
51,629
14,756
50,645
15,169
46,818
50,250
14,952
49,421
14,757
48,128
14,423
50,247
14,871
51,735
14,876
53,114
14,674
53,327
15,212
'54,409
15,582
55,137
13,522
14,775
92,223
32,204
14,357
14,564
14,750
14,794
14,775
14,714
14,478
14,384
14,654
14,860
19,138
14,110
89,927
31,546
25,171
18,716
90,096
31,253
24,991
19,018
91,697
31,859
25,549
19,361
32,614
26,337
19,612
92,223
32,144
25,927
19,355
92,223
32,204
26,038
19,138
92,394
32,631
26,305
18,956
92,696
32,706
26,316
19,083
94,062
32,690
26,300
19,279
95,275
33,179
26,809
19,266
'95,212
'32,561
r
26,275
19,310
14,796
96,407
32,989
26,626
19,406
17,377
17,280
17,277
17,376
17,443
17,429
17,377
17,619
17,928
18,710
18,958
19,377
19,766
r
44,476
5,669
641
443,979
519,881
61,494
6,798
458,287
41,938
5,288
625
36,550
158,217
155,649
38,011
33,588
144,840
164,634
161,812
42,178
35,989
10,679
14,136
13,925
3,033
3,228
55,566
6,029
2,281
43,587
578
27,170
46,940
62,971
38,384
36,983
42,696
44,587
5,235
617
5,035
581
5,351
650
5,675
626
8,259
599
4,383
507
4,262
464
5,194
579
5,416
637
39,065
36,035
38,595
41,265
54,712
34,001
32,721
37,502
39,171
46,286
'5,696
r
648
r
40,590
12,188
14,076
13,863
10,965
13,211
13,008
3,342
3,031
11,976
14,049
13,828
3,491
3,225
14,495
22,520
15,251
14,795
6,413
3,071
8,540
14,251
14,051
2,633
2,954
8,927
12,834
12,627
2,646
2,854
10,972
13,881
13,677
3,493
3,177
11,941
14,149
13,932
3,849
3,231
12,726
14,794
14,597
'3,692
'3,357
11,846
14,191
'2,536
2,522
41,070
13,652
4,040
2,318
2,234
2,335
2,344
3,593
2,416
2,267
2,427
2,529
43,595
585
43,873
597
43,717
596
44,220
573
44,325
590
45,515
593
45,499
613
45,625
622
r
45,646
r
624
619
10,800
526
13,599
3,523
10,965
531
13,512
10,775
515
13,678
10,767
534
13,718
10,679
511
13,762
10,704
543
13,788
10,786
548
13,789
11,246
570
13,906
11,033
573
14,028
11,178
585
14,073
3,595
3,542
3,558
3,552
3,643
3,590
3,787
3,768
11,295
r
568
14,103
'3,765
11,280
569
14,209
3,842
1,501
771
1,503
1,523
747
1,516
740
1,535
746
1,583
771
1,585
788
1,627
792
1,598
788
1,641
r
765
1,630
826
r
2,582
2,595
2,371
2,397
2,407
2,427
2,414
2,453
2,530
2,533
2,549
2,581
12,897
1
4,422
3,530
43,779
595
1,606
863
'7,217
2,978
1,364
12,779
'4,444
1,584
184,668
96,318
25,677
24,255
7,789
'7,186
1
2,979
1,351
12,769
'4,426
1,593
r
181,366
93,330
16,954
1
;
813
174,149
89,260
31,498
24,777
18,341
78,125
13,750
LABOR FORCE, EMPLOYMENT, AND EARNINGS
LABOR FORCE AND POPULATION
Not Seasonally Adjusted
Noninstitutional population, persons 16
years of age and over
Labor force @
Resident Armed Forces
Civilian noninstitutional population
Civilian labor force, total
Employed
Unemployed
thous .
do...
do...
do...
do..
do..
do..
Seasonally Adjusted ^>
do...
Civilian labor force, total
.percent.
Participation rate t
....thous.
Employed, total
Employment-population ratio t— percent.
....thous.
Agriculture
do...
Nonagriculture
do...
Unemployed, total
Long term, 15 weeks and
over
See footnotes at end of tables.
179,912
117,167
1,706
178,206
115,461
107,150
8,312
182,293
119,540
1,706
180,587
117,834
109,597
8,237
64.8
65.3
60.1
3,179
103,971
60.7
3,163
106,434
2,305
2,232
182,354
121,975
1,672
180,682
120,303
111,832
8,471
182,525
121,168
1,697
180,828
119,471
111,515
7,955
182,713
119,960
1,716
180,997
118,244
110,229
8,015
182,935
120,448
1,749
181,186
118,699
110,857
7,842
183,114
120,374
1,751
181,363
118,623
110,751
7,872
183,297
119,799
1,750
181,547
118,049
110,588
7,461
183,575
119,451
1,748
181,827
117,703
109,084
8,620
183,738
119,707
1,740
181,998
117,967
109,464
8,503
183,915
120,089
1,736
182,179
118,353
110,229
8,124
184,079
120,082
1,735
182,344
118,347
111,041
7,306
184,259
121,421
1,726
182,533
119,695
112,377
7,318
184,421
122,871
1,718
182,703
121,153
113,498
7,655
184,605
123,825
1,720
182,885
122,105
114,652
7,453
184,738
123,350
1,736
183,002
121,614
114,527
7,088
118,117
65.4
109,887
60.8
3,124
106,763
8,230
118,124
65.3
110,067
60.9
3,057
107,010
8,057
118,272
65.3
109,987
60.8
3,142
106,845
8,285
118,414
65.4
110,192
60.8
3,162
107,030
8,222
118,675
65.4
110,432
60.9
3,215
107,217
8,243
118,586
65.3
110,637
60.9
3,161
107,476
7,949
119,034
65.5
111,011
61.1
3,145
107,866
8,023
119,349
65.6
111,382
61.2
3,236
108,146
7,967
119,222
65 4
111,368
61.1
3,284
108,084
7,854
119,335
65.4
111,835
61.3
3,290
108,545
7,500
119,993
65.7
112,447
61.6
3,335
109,112
7,546
119,517
65.4
112,257
61.4
3,178
109,079
7,260
119,952
65.6
112,727
61,6
3,219
109,508
7,224
120,302
65.7
113,081
61.8
3,092
109,989
2,250
2,272
2,373
2,168
2,217
2,171
2 200
2,131
2,050
2 075
2101
2,055
1,907
1,884
7,221
September 1987
SURVEY OF CURRENT BUSINESS
S-10
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
Annual
„ ..
1985
BUSINESS STATISTICS: 1984
1987
1986
1986
July
Aug.
Sept.
Nov.
Oct.
Dec.
Jan.
Feb.
Apr.
Mar.
June
May
Aug.
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
LABOR FORCE—Continued
Seasonally Adjusted 0
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
Hispanic origin
Married men, spouse present
Married women, spouse present
Women who maintain families
Industry of last job:
Private nonagricultural wage and
salary workers
Construction
Manufacturing
Durable goods
Agricultural wage and salary workers ...
7.2
6.2
6.6
18.6
6.2
15.1
10.5
4.3
5.6
10.4
7.0
6.1
6.2
18.3
6.0
14.5
10.6
4.4
5.2
9.8
7.0
6.2
6.2
17.9
6.0
14.2
10.5
4.4
5.2
9.5
6.8
5.9
6.1
18.0
5.8
14.6
10.8
4.2
5.1
10.1
7.0
6.2
6.2
18.5
6.0
14.6
10.9
4.3
5.1
9.8
6.9
6.2
6.1
17.7
6.0
14.3
10.4
4.6
5.0
8.9
6.9
6.2
6.1
18.2
6.0
14.2
9.6
4.5
5.0
9.7
6.7
6.0
5.9
17.3
5.8
13.7
10.5
4.3
4.8
9.8
6.7
6.0
5.9
17.7
5.9
14.3
10.6
4.2
4.8
9.8
6.7
5.9
5.8
18.0
5.7
14.3
9.6
4.2
4.8
9.5
6.6
5.8
5.8
18.1
5.6
13.9
9.0
4.1
4.5
9.7
6.3
5.5
5.5
17.4
5.4
13.0
9.2
4.1
4.4
9.3
6.3
5.5
5.4
17.7
5.3
13.8
8.7
3.9
4.1
9.6
6.1
5.5
5.2
15.9
5.2
12.7
8.5
4.0
4.0
9.7
6.0
5.4
5.4
15.5
5.1
12.6
7.9
3.8
4.2
9.4
6.0
5.2
5.3
16.0
5.1
12.4
8.0
3.7
4.3
9.0
7.2
13.1
7.7
7.6
13.2
7.0
13.1
7.1
6.9
12.5
7.1
13.0
6.9
6.7
11.4
6.9
12.4
6.9
6.8
13.3
7.0
12.9
7.0
6.5
12.9
7.0
13.8
7.3
7.2
11.9
7.0
15.1
7.1
6.6
10.1
6.8
13.7
6.9
6.4
11.5
6.7
12.2
6.8
6.8
11.6
6.6
11.6
6.8
6.8
11.2
6.5
12.5
6.9
6.7
10.7
6.2
11.9
6.2
6.2
9.0
6.3
12.1
6.4
6.3
8.7
6.2
11.6
5.6
5.3
8.8
6.1
10.7
6.0
6.1
11.3
5.9
11.2
5.5
5.5
10.8
Not Seasonally Adjusted
Occupation:
Managerial and professional specialty....
Technical, sales, and administrative
support
Service occupations
Precision production, craft, and repair...
Operators, fabricators, and laborers
Farming, forestry, and fishing
2.4
2.4
2.8
2.7
2.7
2.5
2.3
2.1
2.5
2.5
2.2
2.1
2.2
2.4
2.5
2.4
4.8
8.8
7.2
11.2
8.6
4.7
8.6
7.2
10.9
7.8
4.9
8.4
6.7
10.0
5.5
4.8
8.2
6.0
9.5
6.0
4.9
8.6
6.0
10.0
6.7
4.6
8.9
6.1
10.3
7.0
4.5
8.1
6.6
10.7
7.6
3.9
8.0
6.7
10.8
9.1
4.8
8.9
8.0
12.0
10.6
4.6
8.5
7.9
12.1
10.5
4.8
8.0
7.3
11.5
9.7
4.3
7.6
6.5
9.8
6.5
4.2
7.3
6.1
9.4
4.4
4.5
7.9
5.9
8.4
5.1
4.3
7.5
5.4
8.9
5.6
4.4
7.6
5.2
8.1
5.7
EMPLOYMENT §
Employees on payrolls of nonagricultural estab.:
Total, not adjusted for seas, variation
thous.
Private sector (excl. government)
do...
97,519
81,125
99,610
82,900
99,440
83,629
99,641
83,967
100,549
84,025
100,984
83,918
101,234
84,000
101,289
84,103
99,511
82,584
99,792
82,587
100,462
83,152
101,381
84,030
102,140 r102,704 101,934
84,778 '85,610 '85,734
102,148
"86,076
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
do....
97,519
81,125
61,865
24,859
927
4,673
19,260
11,490
697
494
588
808
1,465
2,174
2,197
1,980
99,610
82,900
63,906
24,681
783
4,904
18,994
11,244
711
497
586
753
1,431
2,060
2,123
2,015
99,601
82,991
64,051
24,628
764
4,924
18,940
11,199
704
497
584
745
1,423
2,056
2,124
2,004
99,772
83,125
64,180
24,639
748
4,946
18,945
11,206
712
499
584
735
1,423
2,051
2,123
2,016
100,039
83,241
64,308
24,620
739
4,948
18,933
11,181
716
499
584
732
1,424
2,031
2,118
2,015
100,209
83,337
64,403
24,611
735
4,942
18,934
11,169
718
499
581
733
1,421
2,022
2,120
2,013
100,415
83,515
64,561
24,630
730
4,946
18,954
11,174
723
499
582
733
1,419
2,015
2,119
2,023
100,567
83,643
64,673
24,630
724
4,936
18,970
11,175
728
499
584
733
1,422
2,011
2,118
2,018
100,919
83,983
65,027
24,708
718
5,034
18,956
11,157
731
500
586
726
1,422
2,007
2,111
2,014
101,150
84,215
65,229
24,743
719
5,038
18,986
11,179
733
501
588
733
1,419
2,018
2,106
2,022
101,329
84,352
65,357
24,749
722
5,032
18,995
11,176
734
502
586
739
1,419
2,015
2,099
2,022
101,598
84,560
65,549
24,759
729
5,019
19,011
11,175
736
504
586
743
1,423
2,022
2,092
2,011
101,708 101,818 102,114 102,270
84,677 '84,787 '85,089 "85,196
65,659 r65,772 '65,983 "66,095
24,752 r24,761 '24,857 "24,857
r
"749
'743
738
735
r
"5,007
'5,008
5,008
4,999
r
19,018 19,015 19,106 "19,101
11,175 11,176 11,195 "11,219
"736
'740
'735
738
"520
519
510
509
"584
582
582
584
"751
'749
746
742
"1,423
1,425
1,424
1,420
r
"2,041
'2,032
2,028
2,025
"2,089
2,087
2,080
2,087
r
"2,012
1,994
2,010
2,011
do...
dodo...
do...
do...
do...
do...
do...
do....
do...
do...
720
367
7,770
1,603
64
702
707
362
7,750
1,617
59
705
703
359
7,741
1,619
59
706
703
360
7,739
1,616
58
707
703
359
7,752
1,619
58
707
702
360
7,765
1,621
58
709
700
361
7,780
1,627
59
714
698
364
7,795
1,631
58
715
697
363
7,799
1,628
58
718
695
364
7,807
1,630
58
722
694
366
7,819
1,635
57
725
694
364
7,836
1,642
56
724
693
366
7,843
1,633
57
727
1,121
678
1,428
1,044
179
1,106
674
1,457
1,023
169
1,103
673
1,459
1,022
168
1,102
671
1,462
1,021
168
1,102
675
1,465
1,021
167
1,104
677
1,469
1,020
166
1,101
678
1,472
1,020
165
1,110
679
1,474
1,017
163
1,106
678
1,479
1,018
164
1,101
679
1,483
1,018
164
1,103
678
1,485
1,017
164
1,104
677
1,493
1,018
164
1,107
677
1,497
1,022
164
786
165
72,660
5,238
5,717
17,356
790
151
74,930
5,244
5,735
17,845
783
149
74,973
5,237
5,735
17,866
786
148
75,133
5,202
5,736
17,913
791
147
75,419
5,255
5,736
17,939
794
147
75,598
5,251
5,731
17,980
797
147
75,785
5,278
5,728
18,009
800
148
75,937
5,286
5,725
18,007
803
147
76,211
5,304
5,741
18,080
805
147
76,407
5,315
5,757
18,140
807
148
76,580
5,333
5,766
18,136
809
149
76,839
5,348
5,772
18,197
809
150
76,956
5,344
5,775
18,205
5,955
22,000
16,394
2,875
3,832
9,687
6,297
23,099
16,711
2,899
3,888
9,923
6,323
23,202
16,610
2,872
3,881
9,857
6,351
23,284
16,647
2,882
3,881
9,884
6,374
23,317
16,798
2,902
3,890
10,006
6,395
23,369
16,872
2,897
3,907
10,068
6,418
23,452
16,900
2,900
3,915
10,085
6,451
23,544
16,924
2,904
3,927
10,093
6,480
23,670
16,936
2,912
3,929
10,095
6,501
23,759
16,935
2,916
3,927
10,092
6,526
23,842
16,977
2,922
3,930
10,125
6,558
23,926
17,038
2,933
3,943
10,162
65,586
13,092
67,061
12,895
67,688
12,742
68,018
12,925
68,080
13,017
67,994
12,954
68,074
12,940
68,138
12,908
66,616
12,753
66,596
12,801
67,102
12,846
65,586
17,409
658
3,659
13,092
7,644
584
394
67,061
17,292
550
3,848
12,895
7,432
597
397
67,123
17,238
534
3,861
12,843
7,386
590
397
67,254
17,265
524
3,884
12,857
7,399
598
398
67,348
17,252
518
3,883
12,851
7,382
601
399
67,411
17,238
516
3,873
12,849
7,369
603
399
67,570
17,270
514
3,877
12,879
7,385
607
398
67,665
17,283
510
3,867
12,906
7,393
611
398
67,939
17,331
504
3,943
12,884
7,370
611
400
68,149
17,379
508
3,955
12,916
7,398
614
400
451
612
1,084
1,307
1,300
1,257
451
566
1,057
1,225
1,229
1,264
450
559
1,048
1,224
1,228
1,248
449
549
1,051
1,221
1,229
1,261
450
546
1,052
1,203
1,226
1,261
448
546
1,050
1,195
1,226
1,261
449
547
1,049
1,190
1,230
1,273
451
547
1,052
1,187
1,234
1,267
452
540
1,051
1,183
1,226
1,265
391
264
383
263
380
262
381
262
382
262
380
261
379
263
379
267
377
265
Seasonally Adjusted
Total employees, nonagricultural
payrolls
Private sector (excl. government)..
Nonmanufacturing industries....
Goods-producing
Mining
Construction
Manufacturing
Durable goods
Lumber and wood products
Furniture and fixtures
Stone, clay and glass products...
Primary metal industries
Fabricated metal products
Machinery, except electrical
Electric and electronic equip
Transportation equipment
Instruments and related
products
Miscellaneous manufacturing....
ondurable goods..
goods
Nondurable
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
do...
Leather and leather products
do...
Service-producing
do...
Transportation and public utilities
do...
Wholesale trade
do....
Retail trade
do
Finance, insurance, and real
estate
do
Services
do...
Government
do...
Federal
do...
State
do...
Local
doProduction or nonsupervisory workers on private
nonagric. payrolls, not seas, adjusted
thous.
Manufacturing
do...
Seasonally Adjusted
Production or nonsupervisory workers on private
nonagricultural payrolls
thous.
Goods-producing
do.
Mining
do...
Construction
do...
Manufacturing
do...
Durable goods...'.
do...
Lumber and wood products
do...
do...
Furniture and fixtures
Stone, clay, and glass
do...
products
do...
Primary metal industries
do...
Fabricated metal products
Machinery, except electrical
do...
Electric and electronic equip
do...
Transportation equipment
do...
Instruments and related
products
do.
Miscellaneous manufacturing
do.
See footnotes at end of tables.
693
368
7,839
1,634
57
'729
'696
'371
'7,911
1,646
58
'737
"694
"369
"7,882
"1,637
"56
"733
1,108
676
1,498
1,014
164
1,131
'676
1,503
1,026
163
"1,110
"675
"1,507
"1,029
"165
r
810
149
77,057
'5,350
'5,781
18,226
'816
155
'77,257
'5,360
'5,796
18,271
"817
"153
"77,413
"5,376
"5,798
"18,248
6,576
24,025
17,031
2,935
3,947
10,149
'6,586
'24,083
17,031
'2,935
'3,932
10,164
'6,607
'24,198
17,025
'2,930
'3,950
10,145
"6,630
"24,287
"17,074
"2,944
"3,951
"10,179
67,918
12,874
68,611
12,927
'69,339
13,053
'69,372
12,915
"69,670
"13,090
68,263
17,380
511
3,944
12,925
7,399
615
402
68,419
17,375
518
3,918
12,939
7,406
617
403
68,488
17,360
525
3,889
12,946
7,409
618
407
'68,598
17,377
'528
'3,891
12,958
'7,421
615
'408
'68,817
17,446
'533
'3,892
13,021
'7,424
'619
'417
"68,902
"17,455
"535
"3,899
"13,021
"7,457
"615
"417
454
547
1,051
1,190
1,223
1,276
453
553
1,051
1,190
1,218
1,273
453
559
1,053
1,198
1,216
1,265
452
557
1,050
1,203
1,215
1,265
451
561
1,054
1,210
1,212
1,265
449
'564
1,055
1,212
1,219
1,240
"452
"566
"1,056
"1,223
"1,220
"1,264
377
266
376
268
376
266
375
267
376
269
378
'271
"376
r
r
r
September 1987
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
,
IT
U n I tt s
1984
1985
S-11
1987
1986
Annual
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
LABOR FORCE , EMPLOYMENT, AND EARNINGS-Continued
EMPLOYMENT §—Continued
Seasonally Adjusted
Production or nonsupervisory workers—Continued
Nondurable goods
thous .
Food and kindred products
do...
Tobacco manufactures
do...
Textile mill products
do...
Apparel and other textile
products
do...
Paper and allied products
do...
Printing and publishing
do...
Chemicals and allied products
do...
Petroleum and coal products
do...
Rubber and plastics products, nee
do...
Leather and leather products
do...
Service-producing
do...
Transportation and public utilities
do...
Wholesale trade
do...
Retail trade
do...
Finance, insurance, and real
estate
do...
Services
do...
5,449
1,118
48
607
5,463
1,136
45
610
5,457
1,137
45
610
5,458
1,135
43
612
5,469
1,138
44
612
5,480
1,139
44
615
5,494
1,146
45
619
5,513
1,149
44
621
5,514
1,147
44
624
5,518
1,150
44
627
5,526
1,154
44
630
5,533
1,158
43
628
5,537
1,153
44
631
r
5,537
a,150
42
r
633
'5,597
'1,161
43
'641
"5,564
"1,149
"41
"636
945
512
789
578
109
931
511
817
568
106
929
510
821
569
106
928
508
822
570
106
928
512
824
569
105
929
514
827
568
105
927
515
828
568
105
937
517
830
566
105
931
515
833
568
106
925
516
833
569
106
926
515
832
570
106
929
514
832
569
106
927
513
836
572
107
930
513
839
r
568
108
'950
'514
'842
'576
'107
"932
"514
"843
"577
"109
607
137
48,177
4,339
4,598
15,457
614
124
49,769
4,335
4,601
15,891
608
122
49,885
4,318
4,601
15,911
612
122
49,989
4,290
4,602
15,953
616
121
50,096
4,344
4,598
15,977
618
121
50,173
4,342
4,590
16,013
620
121
50,300
4,368
4,586
16,035
622
122
50,382
4,380
4,583
16,030
623
123
50,608
4,389
4,600
16,097
625
123
50,770
4,401
4,611
16,141
626
123
50,883
4,419
4,617
16,132
629
125
51,044
4,428
4,622
16,189
629
125
51,128
4,429
4,623
16,193
629
125
51,221
r
4,439
r
4,632
'16,195
633
'130
'51,371
'4,447
'4,639
'16,234
"635
"128
"51,447
"4,458
"4,636
"16,230
4,415
19,368
4,655
20,288
4,679
20,376
4,699
20,445
4,712
20,465
4,726
20,502
4,743
20,568
4,767
20,622
4,786
20,736
4,806
20,811
4,823
20,892
4,840
20,965
4,844
21,039
r
r
4,851
21,104
4,855
'21,196
"4,867
"21,256
34.9
34.7
41.4
38.2
35.1
34.7
42.3
38.3
34.8
34.7
42.1
38.5
34.7
34.7
42.1
37.9
34.7
34.8
41.4
36.5
34.8
34.6
42.4
36.8
34.4
34.7
42.5
37.2
34.5
34.9
42.0
36.8
34.6
34.8
41.8
37.4
34.6
34.7
41.8
37.4
34.8
34.9
42.4
38.5
35.0
34.8
42.4
38.1
35.0
'34.8
'42.3
'38.6
"35.3
"35.0
"43.2
"38.6
r
AVERAGE HOURS PER WEEK §
Seasonally Adjusted
Avg. weekly hours per worker on private nonag.
payrolls: <>
Not seasonally adjusted
hours.
Seasonally adjusted
do
Mining t
do
Construction t
do
Manufacturing:
Not seasonally adjusted
do
Seasonally adjusted
do
Overtime hours
do
Durable goods
do
Overtime hours
do
Lumber and wood products
do
Furniture and fixtures
do
Stone, clay, and glass products
do
Primary metal industries
do
Fabricated metal products
do
Machinery, except electrical
do
Electric
and
electronic
equip
do
Transportation equipment
do
Instruments
and
related
products
do
Miscellaneous manufacturing 1
do
Nondurable goods
do
Overtime hours
do
Food and kindred products
do
Tobacco manufactures t
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 t
do...
Leather and leather products t
do...
Transportation and public utilities
do...
Wholesale trade
do...
Retail trade
do...
Finance, insurance, and real
estate t
do...
Services
do...
34.9
34.8
""43.4
37.7
42.2
37.4
40.5
40.7
3.3
41.2
3.5
39.9
39.4
41.9
41.5
41.3
41.5
3.4
41.3
3.5
40.3
39.8
42.2
41.9
41.3
41.6
40.2
40 6
3.5
41.2
3.5
40.4
39.7
42.1
41.4
41.1
41.3
40.7
40 8
3.5
41.4
3.6
40.2
39.9
42.3
42.0
41.3
41.6
41.0
40.8
3.5
41.4
3.6
40.3
40.0
42.4
42.1
41.5
41.7
40.7
40.7
3.5
41.3
3.5
40.4
39.9
42.3
42.3
41.3
41.7
41.0
40.8
3.5
41.4
3.5
40.8
39.8
41.9
42.4
41.4
41.7
41.5
40 8
3.6
41.4
3.6
40.6
39.9
42.2
42.5
41.2
41.7
40.8
40 9
3.6
41.6
3.7
40.8
40.2
42.5
42.6
41.6
42.0
40.8
41 1
3.6
41.7
3.7
41.3
40.2
42.8
42.6
41.6
42.2
40.9
40 9
3.6
41.5
3.7
40.9
40.0
42.5
42.6
41.5
42.0
40.4
40.6
3.5
41.2
3.6
40.6
39.1
41.9
42.3
41.2
41.8
40.9
41.0
3.8
41.6
3.9
41.0
39.9
42.3
43.1
41.6
42.2
41.1
41.0
3.7
41.5
38
'40.6
40.0
'42.0
43.1
41.5
42.2
40.6
41.0
3.8
'41.5
3.8
'40.6
'39.9
'42.2
'43.1
'41.4
42.4
"40.9
"41.0
"3.8
"41.6
"4.0
"40.7
"39.7
"42.0
"43.4
"41.8
"42.2
40.6
42.6
41.0
42.3
41.1
42.2
41.1
42.4
41.2
42.4
41.0
42.1
41.0
42.2
41.0
42.1
41.0
42.3
41.1
42.5
40.9
42.3
40.6
41.9
40.8
42.2
41.1
41.9
41.1
41.8
"41.0
"41.9
41.0
39.4
39.6
3.1
40.0
37.2
39.7
41.0
39.6
39.9
3.3
40.0
37.4
41.1
40.7
38.8
39.8
3.4
39.9
36.4
41.0
40.9
39.2
40.0
3.4
40.2
36.2
41.2
40.7
39.5
39.9
3.3
39.8
38.3
41.4
40.9
39.8
39.9
3.4
39.8
39.0
41.4
41.1
40.1
40.0
3.5
40.0
38.0
41.4
41.1
40.2
40.0
3.5
39.8
37.4
41.6
41.2
39.5
40.1
3.5
40.0
37.1
41.6
41.3
39.2
40.3
3.5
40.1
36.2
42.0
41.3
39.3
40.1
3.5
40.0
38.1
42.1
41.0
38.8
39.7
3.3
39.8
37.6
41.4
41.5
39.2
40.2
3.7
40.1
39.3
42.0
r
41.5
39.3
40.2
3.6
'40.1
40.1
'42.1
41.6
'38.6
'40.3
3.7
39.9
'35.4
'42.6
"42.0
"39.3
"40.3
"3.7
"40.3
"35.8
"41.7
36.4
43.1
37.8
41.9
43.0
36.7
43.2
38.0
41.9
43.8
36.6
43.2
38.0
41.8
43.7
36.6
43.4
38.0
42.0
44.2
36.8
42.9
38.0
41.8
43.5
36.8
43.1
38.0
42.0
43.7
36.9
43.2
38.0
42.3
43.8
37.0
43.2
38.0
42.1
43.6
37.0
43.4
37.9
42.2
44.6
37.4
43.3
38.1
42.2
44.0
37.0
43.0
37.9
42.0
44.1
36.1
43.0
37.7
42.2
43.9
37.2
43.5
37.9
42.1
44.3
r
37.1
43.3
38.1
42.0
r
43.3
'37.3
'43.5
'38.1
'42.2
'44.5
"37.3
41.1
37.2
39.5
38.4
29.4
41.3
36.9
39.2
38.4
29.2
40.4
37.0
39.2
38.3
29.2
41.2
36.8
39.1
38.4
29.2
41.6
36.7
39.1
38.2
29.1
41.5
36.8
39.1
38.3
29.1
41.7
37.1
39.2
38.3
29.2
42.3
38.1
38.9
38.2
28.9
41.6
37.3
39.0
38.3
29.0
41.5
37.2
39.2
38.3
29.3
41.5
37.5
39.0
38.1
29.3
40.9
36.7
39.0
38.2
29.5
41.5
38.6
39.2
38.3
29.4
41.8
'39.3
r
38.8
38.2
29.2
'41.1
'38.4
'39.2
'38.1
29.3
"41.5
"38.4
"39.0
"38.4
"29.6
36.4
32.5
36.4
32.5
36.3
32.5
36.5
32.4
36.2
32.4
36.4
32.4
36.5
32.5
36.5
32.4
36.3
32.4
36.4
32.6
36.3
32.5
36.3
32.4
36.3
32.5
36.4
32.5
'36.1
'32.5
"36.6
"32.6
182.06
149.42
2.10
9.16
40.60
10.76
11.42
26.53
185.39
152.10
1.72
9.54
40.17
10.72
11.45
27.10
184.97
151.93
1.65
9.56
39.95
10.68
11.44
27.12
185.55
152.36
1.65
9.65
40.10
10.58
11.45
27.20
185.84
152.18
1.60
9.68
40.06
10.67
11.40
27.11
186.20
152.54
1.59
9.63
40.05
10.67
11.43
27.21
186.86
153.09
1.56
9.58
40.15
10.80
11.42
27.31
186.87
152.80
1.58
9.55
40.21
10.75
11.36
27.00
187.64
153.81
1.60
10.01
40.24
10.75
11.42
27.25
188.94
154.95
1.58
9.98
40.45
10.86
11.46
27.72
188.71
154.73
1.59
9.90
40.35
10.86
11.41
27.65
187.72
154.87
1.59
9.77
40.04
10.88
11.48
27.93
189.44
155.38
1.62
9.90
40.41
10.89
11.50
27.80
189.41
'155.37
1.62
9.76
'40.37
'10.87
'11.50
'27.67
'189.92
'155.97
'1.63
'9.82
'40.55
'10.94
'11.50
'27.81
"190.92
"157.00
"1.68
"9.85
"40.59
"10.92
"11.58
"28.09
11.29
37.56
32.65
11.95
39.46
33.28
11.97
39.57
33.04
12.05
39.69
33.19
12.02
39.64
33.65
12.11
39.85
33.65
12.21
40.07
33.77
12.23
40.10
34.07
12.24
40.30
33.83
12.30
40.60
33.99
12.32
40.67
33.98
12.38
40.79
32.85
12.42
41.00
34.14
'12.48
'41.10
'34.04
'12.43
'41.29
'33.94
"12.62
"41.67
"33.92
115.3
98.6
106.4
125.1
93.1
92.5
93.9
124.5
117.4
97.9
86.5
130.5
92.1
90.2
94.9
128.1
117.3
97.2
83.6
130.5
91.4
89.3
94.6
128.4
117.6
97.8
82.6
132.0
91.9
89.9
95.0
128.6
117.6
97.8
80.7
132.3
91.9
89.8
95.0
128.5
117.7
97.6
81.0
131.6
91.8
89.5
95.3
128.8
118.2
97.8
79.5
131.1
92.2
89.8
95.8
129.6
117.9
97.8
79.5
130.7
92.3
89.8
96.0
129.0
118.7
98.8
78.9
136.2
92.5
90.0
96.3
129.8
119.7
99.3
79.9
136.2
93.1
90.6
96.7
131.0
119.6
98.9
80.0
135.5
92.8
90.2
96.5
131.0
119.6
98.0
81.3
132.8
92.1
89.6
95.7
131.5
120.2
99.2
83.4
134.3
93.1
90.5
97.0
131.9
120.0
'98.9
'83.5
'132.6
'93.1
90.5
'97.0
131.7
'120.6
99.5
'85.3
'133.3
'93.6
'90.5
'98.2
'132.2
"121.2
"99.6
"86.2
"133.6
"93.7
"91.1
"97.6
"133.2
107.0
117.5
115.9
106.2
117.3
118.0
105.8
117.1
118.3
104.8
117.5
118.6
106.1
116.8
118.4
106.1
116.9
118.6
107.0
116.8
119.2
106.5
116.4
118.0
107.0
117.1
118.9
107.8
117.4
120.4
107.7
116.9
120.3
107.9
117.4
121.6
108.5
117.7
121.2
'107.6
117.6
'120.4
'108.9
'117.5
'121.1
"108.6
"118.3
"122.3
129.9
139.2
137.1
145.9
137.3
146.5
138.6
146.5
137.8
146.7
139.0
146.9
140.3
147.9
139.8
147.8
140.4
148.6
141.0
150.1
141.5
150.2
142.0
150.3
142.5
151.2
'142.7
'151.7
'141.6
'152.4
"144.0
"153.3
r
r
"43.3
"37.9
"42.3
"44.7
AGGREGATE EMPLOYEE-HOURS §
Seasonally Adjusted
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 trade
do...
Retail trade
do...
Finance, insurance, and real
estate
do...
Services
do...
Government
do...
Indexes of employee-hours (aggregate weekly): 0
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 trade
do...
Retail trade
do...
Finance, insurance, and real
estate
do...
Services
do...
See footnotes at end of tables.
r
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
September 1987
SURVEY OF CURRENT BUSINESS
S-12
Annual
,, vnns
.
1985
1984
1987
1986
July
1986
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
Aug.
July
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HOURLY AND WEEKLY EARNINGS §
Average hourly earnings per worker: 0
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
equip
do...
Transportation equipment
do...
Instruments and related
products
do...
Miscellaneous manufacturNondurable goods
Excluding overtime
Food and kindred products
Tobacco manufactures
Textile mill products
Apparel and other textile
products
Paper and allied products
Printing and publishing
Chemicals and allied products
Petroleum and coal products
Rubber and plastics products, nee
Leather and leather products
Transportation and public utilities
Wholesale trade
Retail trade
Finance, insurance, and real
estate
Services
10.74
"8.95
"12.42
"12.68
"9.86
"9.41
"10.40
"9.93
"8.54
"7.77
"10.32
"11.95
"9.92
"10.73
'9.89
12.83
"9.89
"12.91
7.74
9.11
'8.72
r
8.91
15.57
7.15
'7.71
9.16
8.77
'8.88
14.84
'7.14
"7.66
"9.13
"8.71
"8.83
"14.13
"7.19
5.89
11.40
10.19
12.31
14.52
r
5.91
11.41
10.19
12.27
14.43
'5.89
11.50
10.24
12.36
14.46
"5.88
"11.46
"10.28
"12.35
"14.46
8.82
6.1:
11.94
9.53
6.09
6.05
11.95
9.57
6.09
r
8.87
6.04
11.91
r
9.57
r
6.08
'8.94
'5.97
11.99
9.57
6.07
"8.90
"6.05
"12.07
"9.63
"6.06
8.72
8.41
8.71
8.40
8.72
8.38
'8.68
8.35
'8.66
'8.33
"8.79
"8.40
8.88
(*)
12.48
9.81
11.89
9.50
6.04
8.91
0)
12.62
9.83
11.92
9.53
6.05
8.91
(*)
12.61
9.86
11.96
9.52
6.08
8.95
8.94
8.96
12.65
9.88
12.05
9.59
6.09
12.72
'9.88
11.97
'9.58
'6.10
12.67
9.88
12.03
9.59
6.11
"9.03
(x)
"12.72
"9.93
"12.11
"9.69
"6.13
8.66
8.35
8.67
8.38
8.69
8.39
8.74
8.41
8.68
8.40
'8.71
'8.44
"8.54
171.2
94.
182.6
152.8
173.4
173.6
175.0
158.9
171.8
94.6
181.7
152.4
173.7
174.3
176.0
158.9
172.2
94.4
181.4
153.8
174.3
174.6
175.8
159.0
172.6
94.2
181.3
153.7
175.0
175.2
175.9
159.8
172.9
94.0
181.6
154.1
174.4
176.:
176.'
160.:
172.9
93.8
182.1
155.0
174.'
175.6
176.4
160.3
173.2
93.'
182.
154.3
174.8
176.2
176.5
160.9
"173.9
"93.6
"182.0
"153.9
"175.3
"176.6
"177.5
"161.8
182.4
176.6
184.'
177.5
187.8
178.4
187.0
179.0
186.7
179.
187.1
179.9
186.5
179.9
186.4
180.5
"187.8
"181.7
16.60
21.78
16.65
21.80
16.66
21.83
16.67
21.84
14.47
16.6'
21.85
16.6'
21.87
14.23
16.72
21.9-
16.84
22.01
16.89
22.12
14.28
16.99
22.30
306.05
171.07
308.33
171.96
305.86
170.40
307.44
170.04
309.91
170.7
310.07
170.09
309.18
168.7'
312.36
169.95
311.11
168.71
168.73
306.94
527.09
484.72
398.93
428.06
359.30
306.05
526.25
480.5'
395.60
424.1,
358.40
308.14
520.40
462.09
400.98
429.73
363.51
308.33
535.51
469.9408.78
439.92
368.24
306.16
538.05
467.98
401.47
430.77
362.69
307.74
527.52
460.37
401.47
431.19
362.29
308.63
522.92
470.87
402.87
432.22
363.60
308.29
519.5'
469.37
398.75
427.03
361.03
310.76
526.61
485.10
403.68
431.60
366.11
312.20
527.46
'480.4.
'405.66
'434.51
'367.1:
311.85
'521.56
'485.20
401.1!
426.81
366.40
"315.94
"536.54
"489.45
"403.27
"429.52
"367.94
459.80
358.82
178.50
461.38
358.87
176.35
460.21
359.42
175.7-
467.67
363.65
176.32
465.29
363.65
178.46
457.77
361.57
172.35
465.27
361.95
174.78
462.91
361.19
175.71
463.27
363.09
177.83
466.05
366.53
178.44
'465.68
'367.49
179.97
'472.4:
'366.53
182.10
"474.35
"370.76
"183.62
304.41
263.71
303.72
265.36
305.40
266.65
312.81
269.89
309.52
269.5'
312.18
269.51
318.50
273.13
316.54
272.48
316.1'
271.32
316.54
271.5:
'315.95
272.2:
'312.63
'273.22
"321.71
"277.20
8.70
12.49
12.34
9.74
9.35
10.26
9.87
8.29
7.45
10.06
11.93
9.86
10.59
8.70
12.51
12.44
9.68
9.27
10.22
9.80
8.33
7.50
10.07
11.74
9.82
10.59
8.82
12.52
12.59
9.73
9.31
10.29
9.84
8.35
7.55
10.11
11.82
9.88
10.61
12.50
12.68
9.72
9.32
10.27
9.84
8.32
7.53
10.10
11.75
9.88
10.58
12.57
12.66
9.78
9.37
10.33
9.90
8.35
7.55
10.14
11.80
9.94
10.62
8.86
12.63
12.77
9.85
9.42
10.40
9.94
8.32
7.65
10.17
11.82
10.02
10.67
8.90
12.66
12.58
9.84
9.44
10.38
9.95
8.27
7.61
10.17
11.76
9.98
10.64
8.92
12.56
12.51
9.84
9.44
10.39
9.96
8.31
7.58
10.15
11.78
9.99
10.68
8.92
12.51
12.59
9.85
9.44
10.39
9.95
8.28
7.58
10.13
11.82
9.99
10.72
8.91
12.43
12.55
9.87
9.48
10.39
9.98
8.34
7.58
10.23
11.96
9.98
10.70
9.46
12.71
9.65
12.81
9.67
12.73
9.64
12.70
9.70
12.82
9.67
12.82
9.73
12.88
9.82
12.96
9.84
12.93
9.84
12.88
9.84
12.86
9.82
12.80
9.67
9.67
9.67
9.69
r
7.54
7.57
7.62
9.02
8.64
8.79
12.67
7.05
7.68
9.08
8.72
8.91
13.44
7.11
7.72
8.96
8.59
8.69
12.14
7.02
7.69
9.09
8.72
8.90
12.97
7.10
7.67
9.00
8.64
8.76
13.73
7.69
9.07
8.69
8.88
12.93
7.10
7.66
8.94
8.58
8.74
12.85
7.58
8.96
8.57
8.65
12.29
7.02
7.57
8.71
8.38
8.57
11.96
6.70
7.51
8.94
8.56
8.66
13.55
6.97
r
do...
do..
do..
do..
do..
do..
7.30
13.80
7.12
9.14
8.79
8.95
14.28
7.12
9.13
8.75
8.96
14.53
7.13
do..
do..
do..
do..
do..
5.73
10.83
9.71
11.56
14.06
5.84
11.18
9.99
11.98
14.18
5.79
11.33
9.98
12.05
14.16
5.83
11.19
10.02
11.99
14.06
5.91
11.23
10.12
12.03
14.18
5.87
11.25
10.09
12.08
14.19
5.87
11.27
10.11
12.17
14.32
5.90
11.34
10.15
12.20
14.41
5.94
11.26
10.14
12.18
14.57
5.93
11.26
10.16
12.21
14.51
5.93
11.27
10.17
12.24
14.50
5.94
11.37
10.14
12.30
14.50
do..
do..
do..
do..
do..
8.54
5.83
11.40
9.16
5.94
8.73
5.92
11.70
9.35
6.03
8.78
5.92
11.67
9.30
5.98
8.77
5.92
11.67
9.32
5.97
8.72
5.95
11.77
9.37
6.06
8.73
5.95
11.77
9.36
6.06
8.77
5.98
11.90
9.47
6.08
5.98
11.90
9.47
6.07
6.04
11.89
9.49
6.09
8.79
6.01
11.93
9.55
6.09
8.80
6.06
11.90
9.53
6.08
do..
do.,
7.94
7.90
8.35
8.16
8.30
8.04
8.34
8.04
8.39
8.19
8.39
8.23
8.57
8.33
8.48
8.60
8.37
8.75
8.43
8.57
11.98
12.32
9.54
11.40
9.16
5.94
8.76
12.45
12.47
9.73
11.70
9.35
6.03
8.74
0)
12.44
9.74
11.70
9.32
6.02
8.77
C1)
12.48
9.75
11.71
9.37
6.03
8.78
8.82
12.48
9.75
11.73
9.35
6.05
12.57
9.77
11.77
9.40
6.06
()
12.70
9.78
11.82
9.48
6.07
C1)
12.65
9 79
11.83
9.42
6.09
8.86
C1)
12.51
9.79
11.86
9.47
6.05
7.94
7.90
8.16
8.35
8.14
8.41
8.17
8.39
8.18
8.43
8.22
8.59
8.29
8.46
8.25
165.:
94.1
178.9
150.5
168.6
166.:
169.0
155.6
169.3
95.0
181.4
152.1
172.3
171.0
172.1
158.3
169.1
95.1
182.4
151.5
172.4
171.0
171.6
158.1
169.5
95.2
181.9
152.0
172.7
171.
172.0
158.6
169.8
95.0
181.8
151.9
172.7
171.7
172.9
159.0
170.2
95.1
181.7
153.2
173.0
171.9
172.9
159.3
171.2
95.5
182.6
154.7
173.2
172.9
174.8
159.3
171.1
95.3
182.'
154.3
173.4
173.5
174.8
159.3
171.8
168.2
179.8
174.3
178.7
174.0
179.5
174.6
180.4
174.
180.
175.7
184.0
177.1
15.95
20.96
16.37
21.46
16.57
21.65
16.5'
21.69
16.58
21.76
16.60
21.75
299.09
170.42
304.85
171.07
303.28
170.57
304.32
170.97
304.6'
170.59
299.09
519.93
464.46
386.37
416.12
344.92
304.85
524.97
466.38
396.01
424.98
356.71
303.63
517.09
471.39
391.55
416.56
355.50
305.37
529.17
476.45
393.98
420.0.
358.49
450.30
351.74
174.64
458.6359.04
176.08
459.80
358.05
178.80
289.02
256.75
303.94
265.20
301.29
263.71
EMPLOYMENT COST INDEX @
Civilian workers t
6/81 = 100
Workers, by occupational group
White-collar workers
do...
Blue-collar workers
do...
Service workers
do...
Workers, by industry division
Manufacturing
do...
Nonmanufacturing
do...
Services
do...
Public administration
do...
HELP-WANTED ADVERTISING
Seasonally adjusted index
1967 = 100
8.92
12.44
12.61
'9.87
r
9.44
10.42
'9.96
8.44
7.66
10.29
11.97
10.00
10.76
8.76
12.44
12.47
9.73
9.34
10.29
9.87
8.33
7.46
10.05
11.86
9.89
10.59
Seasonally adjusted:
Private nonagricultural payrolls
dollars.
Mining
do...
Construction
do...
Manufacturing
do..
Transportation and public utilities
do..
Wholesale trade
do..
Retail trade
do...
Finance, insurance, and real
estate
...do..
Services
...do..
Indexes of avg. hourly earnings, seas, adj.: <)
Private nonfarm economy:
Current dollars
1977 = 100..
1977 dollars $
do....
Mining tt
do...
Construction
do...,
Manufacturing
do....
Transportation and public utilities
do....
Wholesale trade #
do...,
Retail trade
do....
Finance, insurance, and real
estate tt
do...
Services
do...
Hourly wages, not seasonally adjusted:
Construction wages, 20 cities (ENR): §§
Common labor
$ per hr .
Skilled labor
do...
Railroad wages (average, class I)
do...
Avg. weekly earnings per worker,
private nonfarm: £>
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 trade
do...
Retail trade
do...
Finance, insurance, and real
estate
do...
Services
do...
See footnotes at end of tables.
8.93
12.42
12.60
9.87
9.45
10.40
9.96
8.37
7.64
10.26
11.96
9.97
10.70
8.57
11.98
12.32
9.54
9.16
10.10
9.69
8.22
7.17
9.84
11.67
9.70
10.29
13S
139
134
r
12.88
r
r
133.
136.C
127.8
135.4
136.
128.
136.
129.
138.0
139.
130.
138.
129.3
134.6
142.4
140.6
130.
135.
143.
141.
130.
136.
145.2
144.
131.
137.
145.
144.
15C
9.88
9.46
10.41
9.97
'8.47
'7.71
10.31
12.01
'9.96
9.70
133.C
135
8.91
12.33
12.57
0)
"316.05
158
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
S-13
1987
1986
Annual
IT ..
Lnits
July
1986
1985
B U S I N E S S STATISTICS: 1984
Aug.
Sept.
Nov.
Oct.
Aug.
July
June
Dec.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
WORK STOPPAGES
Work stoppages involving 1,000 or more workers:
Number of stoppages:
Beginning in month or year
number.
Workers involved in stoppages:
Beginning in month or year
thous .
Days idle during month or year
do...
5
2
324
7,079
529
12,140
47
895
113
1,612
38
1,208
44
1,412
9
941
3
939
2,662
2,725
2,632
2,483
2,335
2,296
2,478
2,841
38
794
12
104
3,155
2,933
3
151
7
223
8
483
16
295
17
403
UNEMPLOYMENT INSURANCE
Unemployment insurance programs:
Insured unemployment, all programs, average
weekly # @
thous.
State programs (excluding extended duration
provisions):
Initial claims
thous.
Insured unemployment, avg.
weekly
do...
Percent of covered employment: @ @
Unadjusted
Seasonally adjusted
Beneficiaries, average weekly
thous.
Benefits paid @
mil. $.
20,840
19,627
1,819
1,379
1,329
1,525
1,464
2,164
2,202
2,580
2,630
2,534
2,393
2,247
2,204
2,377
2,729
3,162
2.9
2.8
""2,269
14,499
""2,328
2.7
2.9
2,194
1,309
2.5
2.9
2,119
1,160
2.4
2.9
1,965
1,144
2.3
2.7
1,879
1,147
2.5
2.7
1,941
1,031
2.9
2.7
2,375
1,449
3.3
2.6
2,619
1,538
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. $..
15,855
r
r
l,476
1,384
3,048
2,839
3.2
2.6
2,753
1,493
3.0
2.5
2,664
1,595
22
25
23
21
21
22
24
25
27
25
148
148
12
11
11
11
14
13
13
14
20
20
21
21
17
19
11.7
18
11.9
16
10.8
20
18
10.5
20
17
133.0
18
16
10.7
20
18
130.2
17
14
8.3
21
21
21
18
12.2
26
21
10.9
17
11.2
35
FINANCE
BANKING
Open market paper outstanding, end of period:
Bankers' acceptances t
mil. $.
Commercial and financial company
paper, total
do...
Financial companies
do...
Dealer placed
do...
Directly placed
do...
Nonfinancial companies
do...
68,413
64,974
66,437
64,480
67,009
65,920
64,952
64,974
65,049
65,144
65,954
66,752
67,765
69,622
293,909
213,739
79,596
134,143
80,170
326,144
253,131
102,753
150,378
73,013
313,976
232,718
88,537
144,181
81,258
322,648
239,498
92,146
147,352
83,150
326,967
243,295
96,458
146,837
83,672
329,955
244,066
96,470
147,596
85,889
326,678
243,461
94,990
148,471
83,217
326,144
253,131
102,753
150,378
73,013
333,916
257,970
102,961
155,009
75,946
337,453
263,342
104,047
159,295
74,111
337,133
262,702
103,594
159,108
74,431
349,763
269,578
105,583
163,995
80,185
355,445
276,216
107,353
168,863
79,229
351,253
272,186
109,010
163,176
79,067
347,421
268,049
105,285
162,764
79,372
Loans of the Farm Credit System: **
Total, end of period
mil. $.
Federal land banks and Federal
land bank associations
do...
Federal intermediate credit banks and
production credit associations
do
Banks for cooperatives
do...
83,737
58,250
61,834
58 250
47,498
39,286
41,433
39,286
28,137
8,102
11,563
7,400
12,935
7,465
11,563
7,400
237,572
267,359
232,409
234,762
245,900
239,359
243,334
267,359
253,456
243,485
254,382
273,590
255,122
265,548
257,388
252,736
do...
do...
do...
do...
195,296
3,060
181,327
11,090
224,285
1,565
211,316
11,084
193,151
737
183,446
11,084
195,158
913
185,937
11,084
202,335
879
190,751
11,084
199,196
806
189,995
11,084
205,775
557
196,293
11,084
224,285
1,565
211,316
11,084
212,291
513
202,486
11,075
203,434
514
194,178
11,059
210,956
1,587
196,409
11,081
232,512
2,464
218,883
11,076
216,741
832
207,304
11,070
223,568
972
212,306
11,069
217,861
634
208,170
11,069
215,937
566
207,238
11,068
do....
237,572
267,359
232,409
234,762
245,900
239,359
243,334
267,359
253,456
243,485
254,382
273,590
255,122
265,548
257,388
252,736
Deposits, total
do...
Member-bank reserve balances
do...
Federal Reserve notes in circulation
do...
All member banks of Federal Reserve System,
averages of daily figures:
Reserves held, total
mil. $.
Required
do...
Excess
do...
Borrowings from Federal Reserve
banks
do...
Free reserves
do...
39,503
28,631
56,899
48,107
35,179
30,275
36,364
34,570
45,313
36,794
40,239
36,966
41,475
38,296
56,899
48,107
51,013
34,588
41,355
37,133
46,394
41,973
65,713
35,149
45,219
38,144
50,652
36,102
45,409
39,501
41,833
37,491
181,450
195,360
184,198
185,349
184,191
186,022
190,327
195,360
188,763
189,370
191,170
193,547
196,714
198,255
199,115
199,424
1
1
59,560
'58,191
1
1,369
51,029
50,118
910
51,277
50,538
740
53,189
52,463
726
54,623
53,877
746
56,399
55,421
978
59,560
58,191
1,369
59,668
58,600
1,068
57,060
55,849
1,211
57,061
56,146
916
59,393
58,566
827
58,339
57,260
1,079
58,784
57,594
1,190
1
1,318
'-204
'827
'580
741
285
872
12
1,008
-145
841
4
752
296
827
580
580
522
556
726
527
480
993
-46
1,035
240
776
673
254,210
289,536
215,851
216,886
209,372
212,303
238,557
289,536
228,664
220,771
215,387
229,261
231,830
192,578
6,359
1,583
30,750
222,571
6,846
1,801
34,039
165,781
5,105
2,839
24,126
163,634
5,324
2,588
24,696
159,988
5,138
2,972
24,308
163,712
4,912
2,582
24,294
181,456
5,694
2,749
28,071
222,571
6,846
1,801
34,039
174,212
5,311
2,373
25,628
170,336
5,315
2,118
25,767
167,711
5,066
2,013
24,000
176,896
5,585
4,378
24,219
179,549
5,478
1,288
27,652
43,116
490,387
60,167
509,177
46,428
495,437
47,932
498,999
48,643
499,418
50,502
498,866
53,313
500,632
60,167
509,177
57,268
515,117
57,780
518,349
59,152
518,410
60,280
516,142
Federal Reserve banks, condition, end of period:
Assets, total #
mil. $.
Reserve bank credit outstanding, total #
Loans
U.S. Government securities
Gold certificate account
Liabilities, total #
Large commercial banks reporting to Federal
Reserve System: t
Deposits:
Demand, total #
mil. $.
Individuals, partnerships, and
corporations $$
do...
States and political subdivisions
do...
U.S. Government
do...
Depository institutions in U.S. t%
do...
Transaction balances other than demand
deposits *
do...
Nontransaction balances, total *
do...
Individuals, partnerships, and
corporations
do...
Loans and leases(adjusted),total §
Commercial and industrial
For purchasing and carrying
securities
To nonbank depository and other
financial
Real estate loans
To States and political subdivisions <>
Other loans
do...
do...
48,142
'47,085
1
1,058
r
58,838
58,078
r
761
58,363
57,332
1,032
672
372
647
664
221,666
215,132
211,519
167,335
5,476
3,030
23,444
166,238
5,192
2,768
23,125
163,423
5,331
2,476
23,251
59,148
523,212
58,552
525,456
59,387
526,119
60,381
525,330
r
453,229
470,733
458,557
460,066
460,495
460,286
462,629
470,733
476,464
479,110
479,866
478,065
483,388
486,289
489,031
488,749
726,559
259,819
798,437
289,324
736,020
256,039
739,150
256,546
746,174
256,472
745,285
257,482
764,546
263,306
798,437
289,324
793,512
282,511
784,854
281,062
782,125
280,043
794,953
277,688
794,818
278,868
794,856
275,596
788,909
269,468
792,270
268,805
do...
19,818
14,418
16,635
16,712
16,043
12,962
18,602
14,418
15,452
13,798
13,904
20,435
14,465
14,377
14,432
14,095
do...
do...
do...
do...
26,644
179,349
36,282
204,647
28,545
210,292
34,515
221,343
25,575
194,022
36,051
207,698
26,735
196,779
36,342
206,036
26,691
198,991
36,251
211,726
27,028
200,442
35,472
211,899
26,491
203,013
35,230
217,904
28,545
210,292
34,515
221,343
25,450
213,637
34,847
221,615
24,180
215,634
34,403
215,777
24,071
218,439
34,298
211,370
25,543
221,069
33,508
216,710
25,121
225,630
33,215
217,519
25,077
229,891
32,634
217,281
23,014
231,801
31,909
218,285
22,533
Investments, total
do...
U.S. Treasury and Govt. agency securities,
total 0
do...
Investment account <)
do...
Other securities 0
do...
See footnotes at end of table
161,634
185,989
172,594
177,057
178,023
180,100
185,925
185,989
182,104
184,101
180,250
180,056
179,940
176,797
181,246
183,108
82,290
68,847
79,344
113,784
93,918
72,205
103,182
80,638
69,412
102,941
81,987
74,116
101,708
82,092
76,315
107,848
87,825
72,252
113,975
92,508
71,950
113,784
93,918
72,205
113,734
95,410
68,370
116,590
95,357
67,511
112,955
95,698
67,295
110,606
96,759
69,450
111,722
98,110
68,218
107,910
95,624
68,887
113,702
99,343
67,544
101,991
234,203
31,661
220,973
115,607
67,501
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
September 1987
SURVEY OF CURRENT BUSINESS
S-14
Annual
1987
1986
Units
1984
1985
1986
July
Aug.
Sept.
Oct.
No,.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCE—Continued
BANKING-Continued
Commercial bank credit, seas, adj.: §
Total loans and securities <>
bil. $ .
U.S. Treasury securities
do...
Other securities
do...
Total loans and leases ()
do...
Money and interest rates:
Prime rate charged by banks on
short-term business loans
percent.
Discount rate (New York Federal
Reserve Bank) @@
do...
Federal intermediate credit bank
loans
do...
Home mortgage rates (conventional 1st
New home purchase (U.S. avg.)
percent.
Existing home purchase(U.S. avg.)
do...
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. Gov. securities (taxable):
3-month bills (rate on new issue)...percent.
CONSUMER INSTALLMENT CREDIT t
Not seasonally adjusted
Total outstanding (end of period) #
mil. $.
By major holder:
Commercial banks
do...
Finance companies
do...
Credit unions
do ...
Retailers
do...
Savings institutions *
do...
Seasonally adjusted
Total outstanding (end of period) #
do...
By major holder:
do..
Commercial banks
do..
Finance companies
Credit unions
do..
Retailers
do..
Savings institutions *
do..
By major credit type:
Automobile
do
Revolving
do
Mobile home
do
Total net change (during period) #
do ....
By major holder:
Commercial banks
do....
Finance companies
do....
Credit unions
do ....
Retailers
do....
Savings institutions *
do....
By major credit type:
Automobile
do....
Revolving
do....
Mobile home
do....
1,908.0
271.4
180.6
1,456.0
2,089.8
309.9
196.9
1,583.0
1,998.2
284.7
189.7
1,523.7
2,022.6
291.5
196.0
1,535.1
2,044.6
294.9
204.2
1,545.4
2,052.4
299.6
199.8
1,553.0
2,063.5
304.1
197.9
1,561.5
2,089.8
309.9
196.9
1,583.0
2,118.3
316.3
190.2
1,611.8
2,119.7
315.2
193.9
1,610.7
2,126.2
314.3
195.5
1,616.4
2,147.3
315.8
197.2
1,634.3
2,160.6
320.1
197.6
1,642.9
2,166.3
316.7
198.5
1,651.2
2,169.0
319.7
196.9
1,652.4
9.93
8.33
8.16
7.90
7.50
7.50
7.50
7.50
7.50
7.50
7.50
7.75
8.14
8.25
8.25
8.25
7.69
6.33
6.16
5.82
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
5.50
10.64
9.70
9.73
9.81
9.26
9.09
8.92
8.85
8.71
8.68
8.69
8.52
8.44
8.42
8.41
8.45
11.09
2
9.74
2
9.80
9.89
9.88
9.84
9.88
9.74
9.71
9.57
9.59
9.45
9.48
9.28
9.29
9.14
9.19
8.87
8.89
8.77
8.80
8.84
8.79
8.99
8.93
9.05
9.02
'9.01
'9.05
9.01
9.05
7.92
8.01
6.39
6.39
6.23
6.24
5.80
5.83
5.60
5.61
5.58
5.61
5.67
5.69
5.96
5.88
5.74
5.76
5.99
5.99
6.09
6.10
6.41
6.50
6.91
7.04
6.83
7.00
6.59
6.72
6.64
6.81
7.75
6.31
6.24
5.90
5.54
5.50
5.58
5.74
5.60
5.79
5.88
6.14
6.47
6.50
6.35
6.34
7.470
5.960
5.840
5.570
5.190
5.180
5.350
5.490
5.450
5.590
5.560
5.760
5.750
5.690
5.780
6.000
530,968
586,259
557,829
565,083
573,620
579,148
579,861
586,259
580,634
575,288
574,509
578,656
580,329
586,386
591,176
245,055
113,398
72,715
42,776
52,720
264,829
136,581
78,508
44,679
58,391
255,551
128,293
74,727
39,177
56,523
258,169
130,425
75,950
39,548
57,398
260,168
137,136
76,913
39,518
56,424
261,142
139,951
77,778
39,796
57,129
262,457
138,160
78,056
40,702
57,278
264,829
136,581
78,508
44,679
58,391
262,999
135,091
78,127
42,440
58,588
260,958
133,913
77,793
40,660
58,759
260,477
133,868
77,925
39,905
59,149
261,946
135,129
78,589
39,713
59,994
262,289 '263,680
135,466 137,993
79,031 '80,343
39,620
39,739
60,405 '61,227
264,778
139,811
81,543
39,370
61,941
558,054
563,661
571,275
576,862
577,645
577,789
578,578
579,591
579,913
583,594
583,277
587,821
591,276
255,746
127,377
74,862
40,158
56,500
257,482
129,264
75,640
40,379
57,525
258,982
135,518
76,303
40,455
56,685
260,937
138,037
76,993
40,564
57,043
262,941
136,312
77,506
40,496
57,169
261,611
136,496
77,854
40,585
58,037
261,694
135,802
78,284
40,617
58,906
262,106
136,009
78,491
40,644
59,031
261,933
136,050
78,570
40,469
59,488
263,433
137,091
79,255
40,467
59,827
263,464
136,398
79,476
40,318
60,04;
264,396
138,038
'80,585
40,287
'60,983
264,996
138,745
81,682
40,364
61,910
227,821
132,183
25,891
6,283
231,202
133,175
25,940
5,607
239,015
133,118
25,731
7,614
243,395
133,812
25,783
5,587
242,998
134,388
25,732
782
245,056
134,940
25,710
144
245,471
134,916
25,852
789
246,064 246,290
135,663 135,166
25,614
25,789
322
1,013
247,662
136,706
25,625
3,681
247,578 '250,130
136,869 137,401
25,542 '25,685
'4,545
-318
251,081
138,704
25,858
3,455
2,369
2,229
621
176
929
1,736
1,887
778
221
1,024
1,501
6,254
663
11
-840
1,954
2,519
690
109
359
2,004
-1,725
513
-67
126
-1,329
185
348
88
868
82
-69!
430
32
869
412
207
208
27
124
-172
41
78
-176
458
1,501
1,041
685
338
221
-149
218
'933
1,641
1,109
-31
'938
600
707
1,097
77
927
3,408
1,446
84
3,381
992
49
7,81
-58
-209
4,380
694
52
-396
576
-51
2,05'
552
-21
416
-23
141
592
746
-63
226
-496
-17,
1,373
1,540
12
163
-84
'2,553
'532
143
951
1,303
173
59,01:
'84,302
-25,290
'25,290
'5,971
19,319
2,143,471
1,752,01,
52,967
'80,054
-27,08'
'27,087
'40,433
-13,346
•2,184,12$
"1,792,441
82,94i
47,691
122,897
56,51
55,463
81,771
'78,035
'90,250 '83,928 '83,842 '84,547 '84,078 '83,149 '83,43!
'-49-12,215 '-2,157 -28,379 -28,032 '38,819 -35,459
'2,15' '28,379 '28,379 '28,032 -38,819 '35,459
12,215
'9,728
'8,913 12,719
'7,90'
'4,339 15,262
'22,962
22,739 -9,235
20,128 -47,732
13,188
-10,747 -2,183
2,219,565 •2,226,52* 2,245,791 "2,251,43c 2,272,49S •2,291,587'2,313,43S
1,815,41 1,819,74 1,835,01: 1,842,91, •1,851,82* 1,864,54' 1,874,271
64,223
'86,431
-22,208
'494
'-3,163
25,371
2,311,06
1,871,11
60,213
81,940
-21,727
'22,208
33,060
-11,333
2,348,300
1,904,175
59,012
31,123
540
52,967
24,122
1,748
78,035
33,584
15,693
81,771
46,466
3,460
55,463
22,80!
936
56,515
14,240
13,11
122,897
71,850
11,189
47,691
9,275
1,844
82,945
40,52
10,973
64,223
31,889
2,358
60,213
26,884
1,566
21,179
6,170
'84,302
5,733
22,525
21,751
5,345
'80,054
5,178
20,19'
22,267
6,492
'90,250
5,985
23,498
25,66'
6,181
'83,928
6,433
21,598
25,590
6,131
'83,842
3,877
22,857
23,689
5,472
'84,547
4,629
24,073
33,646
6,213
'84,078
4,754
23,758
30,218
6,354
'83,149
2,935
22,836
24,712
6,740
'83,432
1,81*
24,015
23,346
6,630
'86,431
4,193
23,477
25,712
6,051
81,940
3,325
23,707
29,905
7,965
26,552
14,109
30,390
25,55"
28,510
12,988
29,024
13,74
28,134
11,91"
29,804
12,04"
29,563
14,198
32,34
26,202
30,552
12,323
27,748
13,866
625
3,484
626
790
746
3,645
442
2,240
669
2,06i
583
1,149
525
2,382
66
2,049
69?
2,451
67
3,380
645
1,133
11,066
423.61
11,070
398.806
11,064
391.225
11,062
408.260
11,085
401.318
11,08
408.914
11,071
438.72:
ll,07i
461.23C
11,06!
449.59:
11,069
450.809
11,068
460.883
5.364
5.529
5.488
5.682
2
FEDERAL GOVERNMENT FINANCE
Budget receipts and outlays:
Receipts (net)
mil. $.. '734,05' '769,091
56,523
62,974
78,013
Outlays (net)
do .... '945,987 r3 990,231 '85,278 '84,579
81,750
Budget surplus or deficit ( - )
do .... -211,931 r3 221,140 -22,304 -28,056 -3,737
Budget financing, total
do... '211,931 r3 221,140 '22,304 '28,056
3,737
Borrowing from the public
do... ' 197,269 r3 236,187 15,055 '20,423
22,188
Reduction in cash balances
do...
7,63: -18,451
' 14,662 '-15,04
7,249
Gross amount of debt outstanding
do ... 1,827,470 2,129,964 "2,078,80' 2,098,87 2,129,964
rS
Held by the public
do... 1,509,85" 1,746,044 1,703,24- 1,723,66' 1,746,04Budget receipts by source and outlays by
agency:
56,523
62,974
Receipts (net), total
mil. $. '734,057 '769,091
78,013
25,764
31,438
Individual income taxes (net)
do... '334,560 '348,959
37,125
'61,331
3,374 . 1,075 11,448
'63,143
Corporation income taxes (net)
do...
Social insurance taxes and contributions
23,738
23,510
21,564
(net)
mil. $. '265,163 '283,901
5,945
'73,087
'73,003
Other
do...
5,933
6,598
r3
81,750
'84,579
'85,278
990,231
Outlays (net), total #
do... '945,98'
1
55,523
5,758
3,290
4,536
'58,666
Agriculture Department
do...
23,288
21,858
23,034
Defense Department, military
do ... '245,371 '265,636
Health and Human Services
26,890
29,148
28,985
Department
mil. $. '315,537 '333,935
9,721
13,525
12,641
Treasury Department
do... ' 164,987 '176,160
National
Aeronautics
and
728
582
513
'7,403
'7,25:
Space Adm
do...
3,369
2,361
' 26,333 '26,536
822
Veterans Administration
do...
GOLD AND SILVER:
Gold:
Monetary stock, U.S. (end of
period) @
mil. $.
Price at New York it
dol. per troy oz.
Silver:
Price at New York ."H:
dol. per troy oz.
See footnotes at end of tables.
11,090
317.299
6.142
11,06367.867
11,08'
348.85C
11,08'
376.852
5.218
11,084
419.014
8.439
7.67
7.847
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
.,U n l..t s
BUSINESS STATISTICS: 1984
Annual
1985
S-15
1986
1986
July
Aug.
Sept.
1987
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
FINANCE—Continued
MONETARY STATISTICS
Currency in circulation (end of period)
bil. $..
Money stock measures and components (averages
of daily figures): t
Measures (not seasonally adjusted): $
Ml
bil. $.
M2
do...
M3
do...
L (M3 plus other liquid assets)
do...
Components (not seasonally adjusted):
Currency
do...
Demand deposits
do...
Other checkable deposits tt
do...
Overnight RP's and Eurodollars 6
do...
General purpose and broker/dealer
money market funds
do...
Money market deposit accounts
do...
Savings deposits
do...
Small time deposits @
do...
Large time deposits @
do...
Measures (seasonally adjusted): %
Ml
do...
M2
do...
M3
do...
L (M3 plus other liquid assets)
do...
Components (seasonally adjusted):
Currency
do...
Demand deposits
do...
Other checkable deposits
fcj:
do...
Savings deposits
do...
Small time deposits @
do...
Large time deposits @
do...
PROFITS AND DIVIDENDS (QTRLY.)
Manufacturing corps. (Bureau of the Census):
Net profit after taxes, all manufacturing...
.mil. $.
do
Food and kindred products
.do.
Textile mill products
do
Paper and allied products
..do.
Chemicals and allied products.
Petroleum and coal products
.do.
Stone, clay, and glass products
do
Primary nonferrous metal
..do.
Primary iron and steel...
do
Fabricated metal products
do
Machinery (except electrical).
do
Electrical and electronic equipment.
do
Transportation equipment (except motor
vehicles and equipment)
mil $
Motor vehicles and equipment
do
All other manufacturing industries
do...
Dividends paid (cash), all manufacturing
do...
SECURITIES ISSUED
Securities and Exchange Commission:
Estimated gross proceeds, total
mil. $.
By type of security:
Bonds and notes, corporate
do...
Common stock
do...
Preferred stock
do...
By type of issuer:
Corporate, total #
...mil. $
Manufacturing
do...
Extractive (mining)
do..
Public utility
do..
Transportation
do.
Communication
do.
Financial and real estate..
do.
State and municipal issues (Bond Buyer):
Long-term
do.
Short-term
do.
215.2
200.6
593.9
2,482.0
3,102.9
3,684.8
673.3
2,681.8
3,354.9
3,991.5
680.4
2,700.4
3,368.5
685.2
2,715.8
3,392.3
4,024.5
691.2
2,728.8
3,416.4
4,051.1
2,757.1
3,438.7
4,077.0
715.4
2,777.7
3,464.4
4,111.3
746.5
2,813.6
3,504.4
4,154.5
744.4
2,832.4
3,525.5
4,185.5
723.3
2,809.5
3,508.7
4,174.4
728.9
2,818.4
3,520.2
4,175.7
165.0
259.6
163.6
177.4
286.1
203.6
179.1
290.5
203.6
179.9
289.4
208.6
179.5
291.3
213.5
180.9
293.0
218.5
183.2
300.1
226.0
186.2
319.5
235.0
184.6
311.0
242.8
184.8
292.0
240.3
186.0
291.5
245.0
751.5
749.1
744.9
757.5
'2,846.6 '2,827.6 '2,841.4 '2,853.3
'3,546.7 '3,542.4 '3,564.2 '3,571.3
'4,191.2 '4,197.7 '4,221.4 4,211.9
749.3
2,858.3
3,589.5
193.8
298.7
'251.3
194.2
294.8
252.5
188.0
305.8
257.4
190.2
298.8
249.4
191.9
298.8
251.3
63.3
71.6
71.8
74.7
72.8
77.5
76.7
77.3
83.5
78.7
75.3
75.1
74.2
'72.7
'72.8
75.5
175.6
480.3
295.0
882.1
425.0
195.9
543.1
328.7
878.1
447.6
199.7
546.6
330.1
880.9
444.8
200.5
553.6
333.2
877.5
449.2
202.2
558.8
339.6
873.3
450.3
206.9
564.4
351.2
867.3
447.1
207.1
568.7
359.3
859.5
446.7
207.6
571.4
365.6
854.2
448.1
209.0
574.3
376.4
854.4
451.3
210.7
570.8
384.6
850.4
451.2
211.6
570.6
395.1
r
845.7
452.5
211.0
565.5
406.1
r
840.0
451.2
209.1
557.1
412.7
'838.3
458.3
210.2
553.5
417.5
'846.8
'461.5
210.4
'548.0
420.3
'858.6
'460.8
213.4
543.4
418.4
866.2
466.1
676.6
2,693.8
3,368.3
3,998.8
687.0
2,718.4
3,396.8
4,027.7
693.1
2,736.3
3,422.0
4,057.0
701.4
2,760.7
3,442.2
4,082.7
712.4
2,775.4
3,460.1
4,108.5
730.5
2,800.1
3,489.1
4,141.1
737.7
2,822.2
3,514.8
4,174.1
747.6
746,6,
753.1
750.3
2,837.9 '2,838.7 '2,840i '2,846.2
'3,552.2 ^,566!? '3,571.4
r
4,183.1 '4,213.3 '4,222.1 4,211.5
750.9
2,860.2
3,594.0
177.6
288.2
204.5
327.4
880.9
448.3
179.0
291.2
210.4
334.6
876.7
449.4
179.7
292.2
214.7
341.4
872.2
448.4
181.2
293.4
220.3
350.5
864.7
445.5
182.4
297.8
225.8
358.5
857.1
445.8
183.5
308.3
232.3
366.3
853.5
447.1
186.0
305.1
240.1
376.7
851.6
449.7
192.1
296.2
252.5
'416.7
'858.5
'464.8
193.2
296.4
254.5
420.0
865.7
466.6
87,648
12,798
1,200
2,880
9,542
12,739
1,627
-1,000
-1,349
3,388
9,676
6,886
737.4
2,821.5
3,518.4
4,182.6 '4,172.5
r
190.2
303.9
252.2
411.7
'843.0
459.7
191.1
297.4
251.2
415.2
'850.0
'465.0
1,404
1,967
31,301
3,718
386
1,206
3,883
4,435
852
64
397
1,275
3,216
2,414
1,030
1,265
11
1,759
1,017
2,903
1,208
3,298
4,918
3,338
18,371
3,178
429
819
3,855
18,706
4,153
498
957
2,139
8,823
2,120
760
-3,372
3,232
373
655
164
-2,153
703
1,539
614
180
-470
617
6,551
7,619
1,614
1,521
3,594
9,087
3,261
16,580
14,586
r
45,517
46,044
133,742
230,357
13,359
18,934
10,035
19,991
21,291
24,871
18,252
20,912
87,095
159,689
9,064
6,072
12,951
13,475
16,328
55,070
11,496
3,420
726
3,636
327
5,824
817
14,457
5,351
1,184
17,305
36,432
6,374
13,444
4,022
1,368
5,452
1,018
3,537
842
3,489
795
129,901
26,050
4,711
10,014
4,036
4,153
66,174
226,255
41,780
4,135
13,210
2,524
548
1,366
10,035
1,341
428
1,302
19,592
2,386
218
1,987
23,775
6,374
149
2,909
209
367
5,626
28
334
5,228
728
437
11,778
17,854
2,813
8
1,616
0
106
12,144
20,612
3,651
34
2,642
4,560
11,491
116,877
20,992
4,128
364
1,914
15
641
11,938
142,544
20,111
21,025
25,208
1,793
6,986
544
11,761
342
11,554
1,215
16,538
1,026
36,480
33,170
34,550
34,580
36,310
19,000
2,570
14,600
3,035
14,210
3,395
14,060
3,805
14,445
63.1
65.6
66.8
852.42
806.33
761.06
19,492
188.9
303.9
250.7
406.1
r
843.6
454.6
187.7
299.3
245.7
396.3
845.9
450.1
187.2
300.8
242.9
387.2
848.3
448.2
23,953
2,879
379
996
4,251
2,821
r
655
278
352
513
751
1,982
83,121
13,292
1,706
3,280
12,900
12,353
12,054
2,618
131
2,003
57
1,208
11,111
r
4,176
4,949
10,771
12,753
18,561
18,542
11,578
18,997
8,332
2,382
r
13,269
4,811
481
11,077
'5,894
'697
7,455
3,309
814
18,561
1,988
1,669
1,407
511
67
10,615
17,668
4,065
619
432
11,937
29,711
7,452
2,107
1,430
2,255
57
11,130
10,023
11,578
2,032
604
1,153
132
675
5,218
7,420
7,866
500
14,476
676
7,002
2,782
6,641
282
11,037
1,998
'7,533
'2,430
5,962
2,024
34,960
35,740
38,080
39,820
38,420
40,250
41,640
19,000
5,060
17,395
4,470
17,325
4,730
17,370
4,660
17,285
3,680
15,405
4,095
15,930
4,240
16,195
67.0
68.6
71.1
61.2
61.6
61.1
815.01
928.5:
880.80
790.99
793.38
720.53
318
999
10,551
985
'786
23
'528
SECURITY MARKETS
Stock Market Customer Financing
Margin credit at broker-dealers, end of year
or month
mil. $..
Free credit balances at brokers, end of year
or month:
Margin-account
do....
Cash-account
do...,
Bonds
Prices:
Standard & Poor's Corporation, domestic
municipal (15 bonds)
dol. per $100 bond.
Sales:
New York Stock Exchange, exclusive of some
stopped sales, face value, total
mil. $.
See footnotes at end of tables.
2,715
12,840
9,046.45 10,475.40
3,765
15,04,
766.66
853.65
932.27
4,355
16,985
780.02
September 1987
SURVEY OF CURRENT BUSINESS
S-16
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
.,
IT
Lnits
1985
1984
1987
1986
Annual
1986
July
Aug.
Sept.
Oct.
Nov.
Jan.
Dec.
June
Apr.
Mar.
Feb.
FINANCE—Continued
Bonds—Continued
Yields:
Domestic corporate (Moody's)
By rating:
Aaa
Aa
A
Baa
By group:
Industrials
Public utilities
Railroads
Domestic municipal:
Bond Buyer (20 bonds)
Standard & Poor's Corp. (15
bonds)
U.S. Treasury bonds, taxable t
percent.
12.05
9.71
9.44
9.55
9.54
9.37
9.23
9.04
9.03
8.99
9.35
9.82
9.87
9.92
10.14
do...
do...
do...
do...
11.37
11.82
12.28
12.72
9.02
9.47
9.95
10.39
9.28
9.76
10.16
8.72
9.22
9.64
10.18
8.89
9.36
9.73
10.20
9.33
9.72
10.24
8.68
9.20
9.51
10.07
8.49
9.02
9.41
9.97
8.36
8.86
9.23
9.72
8.38
8.88
9.20
9.65
8.36
8.84
9.13
9.61
8.85
9.15
9.36
10.04
9.33
9.59
9.83
10.51
9.32
9.65
9.98
10.52
9.42
9.64
10.00
10.61
9.67
9.86
10.20
10.80
do...
do...
do...
11.80
12.29
11.94
9.96
9.46
9.85
9.85
9.19
9.73
9.73
9.15
9.69
9.68
9.42
9.57
9.68
9.39
9.65
9.58
9.15
9.56
9.49
8.96
9.37
9.31
8.77
9.19
9.25
8.81
9.22
9.23
8.75
9.13
9.40
9.30
9.30
9.81
9.82
9.53
9.87
9.87
9.56
9.82
10.01
9.52
9.94
10.33
9.69
6.85
6.56
6.59
6.93
7.85
9.18
10.75
7.38
8.14
7.62
7.86
7.31
7.72
6.93
7.67
6.63
7.60
6.67
7.69
6.71
7.62
7.62
8.31
8.10
8.79
7.89
8.63
7.83
8.70
7.90
8.97
do...
do...
do...
Stocks
Prices:
Dow Jones averages (65 stocks)
Industrial (30 stocks)
Public utility (15 stocks)
Transportation (20 stocks)
Standard & Poor's Corporation: §
Combined index (500 Stocks)
1941-43 = 10.
Industrial, total (400 Stocks) #
do...
Capital goods
do...
Consumer goods
do...
Utilities (40 Stocks)
do...
Transportation (20 Stocks)
1982-100..
Railroads
1941-43=10 .
Financial (40 Stocks)
1970=10.
Money center banks t
1941-43 = 10 .
Major regional banks |
do...
Property-Casualty Insurance
do ...
N.Y. Stock Exchange common stock indexes:
Composite
12/31/65=50.
Industrial
do...
Transportation
do...
Utility
do...
Finance
do...
NASDAQ over-the-counter price indexes: *
Composite
2/5/71 = 100.
Industrial
do...
Insurance
do...
Bank
do...
NASDAQ/NMS composite
7/10/84 = 100.
Industrial
do...
Yields (Standard & Poor's Corp.):
Composite (500 stocks)
percent.
Industrials (400 stocks)
do...
Utilities (40 stocks)
do...
Transportation (20 stocks)
do ...
Financial (40 stocks)
do...
Preferred stocks, 10 high-grade
do...
Sales:
Total on all registered exchanges (SEC):
Market value
mil. $.
Shares sold
millions.
On New York Stock Exchange:
Market value
mil. $.
Shares sold (cleared or settled)
millions.
New York Stock Exchange:
Exclusive of odd-lot and stopped stock
sales (sales effected)
millions.
NASDAQ over-the-counter: *
Market value
mil. $.
Shares sold
millions
Shares listed, NYSE, end of period:
Market value, all listed shares
bil. $
Number of shares listed
millions
7.23
541.56
1,328.23
157.58
645.11
7.19
6.94
7.14
7.12
8.04
6.86
7.81
8.05
974.11
924.48
895.59
858.02
744.53
721.67
698.61
702.50
857.52
865.48
843.73
796.65
709.96
712.53
753.06
1,792.76 1,809.92 1,843.45 1,813.47 1,817.04 1,883.65 1,924.07 2,065.13 2,202.34 2,292.61 2,302.64 2,291.11 2,384.02 2,481.72 2,655.01
203.38
207.98
202.99
210.14
195.24
200.47
204.62
201.41
205.35
210.95
202.28
217.77
222.36
221.59
210.82
952.58 1,014.02 1,044.15 1,081.73
931.24
838.43
825.43
785.41
861.96
835.97
772.85
743.80
737.39
942.43
925.78
186.84
207.79
188.75
184.52
82.97
166.62
123.17
22.04
85.44
101.62
246.47
236.34
262.16
227.14
260.72
107.65
200.19
141.73
28.36
115.71
114.41
312.67
240.18
266.17
223.40
283.70
112.13
187.79
134.52
28.58
119.89
115.83
310.66
245.00
270.23
226.20
280.30
118.53
186.18
131.50
29.51
122.42
116.52
320.60
238.27
263.62
229.12
263.60
113.11
189.86
133.04
27.85
115.88
112.04
308.53
237.36
263.09
219.49
262.82
114.01
205.27
135.51
27.59
110.91
110.12
302.91
245.09
272.79
227.85
272.91
114.10
206.35
141.50
27.14
110.79
113.60
290.71
248.61
276.69
234.51
272.63
115.52
204.75
140.70
27.89
115.90
112.15
303.73
264.51
296.10
251.85
291.32
120.09
212.07
148.13
29.26
121.19
116.03
316.67
280.93
318.18
275.49
315.13
119.87
224.37
158.02
30.21
121.00
115.37
336.07
292.47
334.65
288.16
333.68
117.65
227.30
163.02
31.00
117.56
118.22
343.87
289.32
335.43
291.95
326.16
109.97
222.25
160.27
28.42
111.12
110.72
301.46
289.12
336.10
299.77
322.75
108.06
231.31
169.22
27.80
114.97
110.32
295.91
301.38
349.58
304.87
343.21
112.63
247.20
174.05
29.55
125.53
117.56
310.87
310.09
362.36
315.79
353.73
110.93
256.09
186.70
29.44
122.72
116.27
310.69
329.36
384.94
336.67
378.96
117.70
268.34
195.96
31.45
128.94
123.11
328.90
108.09
123.78
104.10
56.74
114.21
136.00
155.84
119.87
71.36
147.20
138.32
158.06
112.03
74.20
150.23
140.91
160.10
111.24
77.84
152.90
137.06
156.52
114.06
74.56
145.56
136.74
156.56
120.04
73.38
143.89
140.84
162.10
122.27
75.77
142.97
142.12
163.85
121.26
76.07
144.29
151.17
175.60
126.61
78.54
153.32
160.23
189.17
135.49
78.19
158.41
166.43
198.95
138.55
77.15
162.41
163.88
199.03
137.91
72.74
150.5:
163.00
198.78
141.30
71.64
145.97
169.58
206.61
150.39
74.25
152.73
174.28
214.12
157.49
74.18
152.25
184.18
226.49
164.02
78.20
160.94
290.19
300.26
340.23
285.42
122.90
112.22
366.96
367.27
430.57
410.17
156.10
138.03
385.89
383.05
437.53
441.64
163.96
143.59
375.62
371.05
438.50
433.17
159.79
139.40
358.26
352.77
432.95
413.51
152.43
132.63
355.03
350.87
430.53
408.90
151.21
132.21
358.08
358.46
412.84
420.74
152.54
135.33
354.92
355.31
411.03
416.83
151.51
134.71
384.23
391.37
437.87
454.22
164.48
149.00
411.71
428.59
458.29
495.54
176.34
163.54
432.20
453.66
460.48
516.69
185.03
173.09
422.77
449.35
429.80
493.22
180.64
171.20
416.63
447.28
414.05
474.51
177.97
170.53
423.70
450.95
507.73
477.16
181.14
171.96
429.01
456.03
436.74
473.60
183.47
174.08
448.39
477.19
461.37
496.62
192.17
182.74
4.25
3.76
8.12
2.86
4.21
10.44
3.48
3.09
6.54
2.43
3.22
3.36
2.99
5.97
2.59
3.08
8.42
3.43
3.04
6.14
2.54
3.22
8.10
3.49
3.08
6.37
2.45
3.33
8.17
3.40
2.99
6.19
2.39
3.38
8.07
3.38
2.98
6.1
2.39
3.40
8.18
3.17
2.78
5.88
2.30
3.25
3.02
2.62
5.9!
2.19
3.20
7.93
2.93
2.51
6.00
2.16
3.10
8.76
3.43
3.04
6.28
2.56
3.15
8.66
2.99
2.52
6.68
2.23
3.45
7.94
3.02
2.54
6.89
2.15
3.58
8.41
2.92
2.46
6.64
2.03
3.39
8.31
2.83
2.36
6.69
1.90
3.40
8.25
1,199,420 1,704,334
37,046
48,229
147,992
4,040
130,677
3,738
147,892
4,108
144,742
4,030
139,546
3,951
160,605
4,599
184,314
5,065
180,157
4,840
193,961
5,341
210,25'
5,343
186,900
171,229
4,623
1,023,179 1,448,235
126,761
111,220
127,758
121,600
117,883
135,712
156,482
155,749
165,971
182,930
39,150
3,317
3,046
3,403
3,260
3,223
3,733
4,116
3,974
4,378
4,426
2,941
3,261
4,041
3,486
3,966
3,930
3,418
3,594
3,968
4,063
27,311
2,148
25,715
2,038
32,824
2,624
46,065
3,188
46,987
3,046
50,933
3,306
44,77:
3,031
38,501
2,795
42,752
3,285
39,750
44,959
3,149
30,222
r
4,797
162,84;
147,990
3,834
3,991
27,511
35,680
3,030
2,702
3,167
233,454
20,699
378,216
28,737
33,280
2,435
27,629
2,119
29,230
2,213
1,950.33
52,427
2,199.26 2,163.40 2,279.44 2,127.30 2,237.28 2,266.61 2,199.26 2,470.60 2,563.18 2,628.71 2,581.26 2,603.29 2,718.55 2,845.01 2,945.88
59,620
57,046
57,452
57,970
58,512
59,062
59,620
60,338
60,991
61,860
62,518
65,155
66,810
68,246
68,660
FOREIGN TRADE OF THE UNITED STATES
VALUE OF EXPORTS
(mdse.), incl. reexports,
Exports
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. $. 218,828.0 226,818.5 17,346.2 16,897.8
19,563.3 18,412.6 18,523.5 16,755.0 19,360.3 21,775.7 20,496.3 20,783.7 21,126.1 21,008.4
do.... 218,814.9 226,808.1 17,345.8 16,894.8 17,530.5 19,561.6 18,411.3 18,522.7 16,753.4 19,359.2 21,775.0 20,495.6 20,781.1 21,125.7 21,005.3
do....
do....
do....
do....
do....
do....
do...
do...
7,388.1
60,745.3
6,399.1
59,978.0
do...
do....
2,322.8
1,205.0
do...
do...
5,481.1
22,630.8
491.9
5,978.5
511.0
4,830.2
3,172.6
1,594.4
1,128.5
566.4
5,747.4
539.2
4,978.0
3,094.8
1,549.9
1,120.5
450.9
4,819.2
567.0
5,007.4
4,119.5
1,493.1
1,043.2
465.1
5,573.7
575.3
5,748.3
4,176.1
1,662.0
1,100.1
577.9
5,156.4
622.4
5,664.7
3,911.2
1,576.7
1,069.8
574.4
5,527.9
507.7
5,547.7
3,719.0
1,533.2
1,020/7
425.1
4,567.1
530.3
4,743.5
4,152.4
1,547.2
789.5
472.6
5,163.4
430.3
6,060.5
4,763.0
1,596.0
874.5
546.7
6,086.6
509.5
6,612.6
5,259.0
1,864.0
895.5
512.4
5,746.6
520.4
6,171.7
4,928.7
1,739.7
870.2
654.9
5,622.2
603.8
5,974.4
5,055.7
1,782.3
1,077.1
584.7
5,702.8
554.7
5,783.0
2
5,606.1
1,845.1
1,045.8
606.9
6,333.5
557.2
5,378.5
4,715.2
1,942.7
1,467.5
1,981.8
1,158.3
133.0
92.2
149.8
131.0
106.9
97.2
158.0
94.8
272.7
99.3
247.6
100.9
169.3
79.7
191.5
92.7
217.4
96.7
196.2
105.9
332.4
108.9
217.1
103.1
266.7
89.3
5,602.5
26,881.6
425.9
2,941.0
463.3
2,272.4
443.3
2,015.2
505.2
2,285.9
551.5
1,990.1
445.8
2,304.9
1,785.4
360.7
2,034.6
439.2
2,138.6
443.4
2,170.6
2,151.5
473.2
2,293.0
472.4
2,561.3
5,978.2
64,531.8
6,658.5
63,631.2
2
55,513.7
19,991.2 19,126.3
11,022.3 11,949.8
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
,, ..
unus
BUSINESS STATISTICS: 1984
Annual
1985
S-17
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
FOREIGN TRADE OF THE UNITED STATES—Continued
VALUE OF EXPORTS—Continued
Exports (mdse.), incl. reexports—Continued
Europe:
583.9
682.5
645.4
633.5
537.6
601.1
571.6
6,095.7
729.3
601.0
644.9
638.0
600.6
7,215.9
519.5
France
mil. $.
2.1
4.5
2.8
4.9
15.5
3.0
27.2
9.8
.9
.9
1.6
67.9
72.3
2.0
5.3
German Democratic Republic
do...
839.3
894.8
913.7
957.2
975.8
859.0
710.1
9,050.0 10,560.5
863.2 1,084.7 1,046.3
821.3 1,051.8 1,068.8
Federal Republic of Germany
do...
Italy
do...
479.9
458.6
501.8
412.9
461.4
425.8
343.2
4,838.3
Union of Soviet Socialist Re200.8
publics
do...
135.5
168.7
196.6
51.2
47.0
62.0
67.9
31.4
44.2
40.8
66.5
55.1
1,247.5
2,422.8
United Kingdom
do...
976.7
988.2 1,016.8
878.0
933.7
862.7
11,272.9 11,418.2
819.4 1,149.2 1,371.8 1,389.2 1,141.9 1,153.0 1,044.2
North and South America:
2
53,287.1 255,511.6 3,172.4 3,094.7 4,119.4 4,175.9 3,911.1 3,719.0 4,152.3 4,762.8 5,258.9 4,928.3 5,055.1 2 5,605.7 4,715.0
Canada..
do
Latin American Republics,
total #
do.... 27,849.8 27,968.0 2,472.6 2,452.8 2,314.9 2,497.1 2,349.7 2,256.8
2,206.8 2,505.2 2,338.9 2,621.3 2,639.6 3,001.6
618.5
do...
Brazil
288.3
264.6
279.7
251.9
352.7
370.4
388.1
441.0
336.2
3,139.6
245.5
412.5
3,885.3
227.5
do...
Mexico
945.2 1,016.7 1,030.9 1,276.8 1,120.9 1,192.5 1,243.6 1,225.5
945.8
964.9 1,087.1
1,039.1 1,009.6
13,634.7 12,391.6
344.5
295.1
215.4
264.0
279.4
Venezuela
234.5
do....
341.6
236.2
227.7
201.7
248.2
244.3
298.4
3,141.0
3,399.4
Exports of U.S. merchandise, total §
do.. 212,961.3 216,555.2 15,911.3 16,830.8 16,860.4 18,594.1 17,895.0 17,777.4 16,213.5 18,658.8 21,050.4 19,755.2 20,009.1 20,295.9 20,312.5
Excluding military grant-aid
do.. 212,948.2 216,543.1 15,910.9 16,827.8 16,859.8 18,592.4 17,893.7 17,776.6 16,211.9 18,657.7 21,049.7 19,754.5 20,006.5 2 20,295.5 20,309.4
29,241.5 26,061.0 1,703.3 1,885.3 1,915.1 2,434.8 2,512.1 2,566.4 2,165.1 2,220.8 2,416.2 2,270.1 2,178.9 2,070.7 2,385.7
Agricultural products, total
do..
Nonagricultural products, total
do.. 183,719.8 190,494.2 14,207.9 14,945.6 14,945.4 16,159.2 15,382.9 15,211.0 14,048.4 16,438.0 18,634.2 17,485.1 17,830.3 18,225.2 17,926.9
By commodity groups and principal
commodities:
Food and live animals #
mil. $.
19,267.9 17,302.6 1,452.0 1,604.5 1,465.0 1,638.1 1,523.0 1,472.5 1,286.6 1,402.8 1,561.9 1,474.0 1,543.9 1,502.1 1,785.6
276.5
268.7
303.3
388.3
Beverages and tobacco
do...
297.8
235.7
339.5
228.1
207.0
209.5
196.2
2,958.2
305.8
291.8
2,920.2
Crude materials, inedible, exc.
fuels #
do...
16,939.5 17,323.8 1,040.3 1,275.7 1,238.3 1,557.2 1,642.2 1,725.3 1,435.4 1,605.6 1,706.3 1,562.5 1,503.5 1,593.3 1,613.6
604.9
Mineral fuels, lubricants, etc. #
do...
653.9
633.1
619.7
641.2
657.4
661.1
652.8
9,970.9
619.9
564.3
573.3
670.0
8,114.5
Oils and fats, animal and vegetable
do...
1,014.9
58.7
Chemicals
do...
21,758.7 22,765.8 1,801.5 2,049.7 1,942.0 1,935.6 1,897.4 1,907.9 1,759.1 1,919.0 2,343.0 2,155.9 2,412.7 2,281.2 2,178.1
Manufactured goods #
do...
1,073.1 1,179.0 1,189.0 1,228.0 1,259.1 1,187.3 1,141.4 1,317.4 1,469.5 1,419.6 1,450.7 1,506.9 1,370.0
14,008.9 14,005.0
Machinery and transport equipment,
total
mil. $.
94,278.4 95,289.5 7,390.9 7,347.4 7,785.5 8,678.9 8,107.4 8,049.0 6,903.3 8,438.9 9,521.4 8,996.3 8,959.6 9,078.6 8,745.0
59,488.2 60,396.8 4,763.7 5,118.2 4,920.3 5,377.1 5,157.9 5,238.5 4,430.3 5,228.6 6,008.1 5,510.7 5,762.8 5,853.2 5,516.8
Machinery, total #
do...
Transport equipment, total
do .. . 34,790.2 34,892.7 2,627.2 2,229.2 2,865.2 3,301.8 2,949.5 2,810.4 2,473.0 3,210.3 3,513.3 3,485.6 3,196.9 3,225.5 3,228.2
19,364.0 18,575.0 1,249.2
Motor vehicles and parts
do...
996.6 1,649.3 1,616.3 1,601.7 1,329.4 1,455.9 1,683.4 1,788.2 1,762.3 1,879.8 2,045.3 1,344.0
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
Asia; Australia and Oceania:
Australia, including New
Guinea
Japan
Europe:
France
German Democratic Republic
Federal Republic of Germany
Italy
Union of Soviet Socialist Republics
United Kingdom
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
Manufactured goods #
Machinery
and
transport
equipment
Machinery, total #
Transport equipment
Motor vehicles and parts
See footnotes at end of tables.
do.
do..
do.
do.
do..
do..
do..
do ..
do..
do.
30,807.9 32,771.1 32,413.1 29,853.6 27,466.4 32,306.7 33,196.7 31,983.1 33,313.0 35,266.3 35,844.1
31,847.9
345,275.5
875.2
870.2 1,090.6 1,349.4
830.7
869.0
827.7
851.4
917.3
11,964.3 10,348.1
770.2
799.8
574.3
131,884.2 153,869.1 15,033.5 12,914.0 12,076.9 13,198.2 15,640.0 11,060.4 12,008.5 13,495.3 13,475.6 13,385.5 14,129.4 15,197.0 16,054.3
375.7
390.0
325.6
390.0
3,819.3
372.9
305.0
339.5
322.2
365.0
281.2
282.8
3,717.0
317.4
300.5
81,692.1 91,826.0 8,630.3 7,127.5 6,532.8 6,793.7 9,099.8 7,433.8 6,285.1 7,640.6 8,771.7 7,949.5 8,108.1 8,338.2 8,785.4
69,014.4 68,259.0 5,476.4 5,225.2 5,571.6 5,719.0 6,682.4 4,862.1 5,430.7 5,930.4 5,987.0 5,815.2 5,916.6 6,101.5 5,322.4
25,969.5 23,465.0 2,146.4 1,756.9 1,851.7 1,728.4 2,055.6 1,861.6 1,531.4 2,376.1 2,245.4 2,107.8 2,300.9 2,416.0 2,208.2
20,931.6 18,477.2 1,526.7 1,369.4 1,529.7 1,458.0 1,516.4 1,386.2 1,319.0 1,694.1 1,641.9 1,524.4 1,614.9 1,733.0 1,748.8
7.6
127.2
7.6
89.2
9.0
115.5
24.1
88.1
27.5
107.0
63.5
103.3
84.6
121.3
238.5
5,900.5
251.5
6,824.5
214.4
6,804.2
222.8
6,832.3
275.8
6,933.8
262.0
7,332.6
267.5
7,340.5
732.5
6.1
2,107.6
796.7
663.6
4.2
1,793.5
737.8
845.2
5.7
2,088.2
850.3
10.6
2,582.3
956.9
839.6
5.5
2,341.2
843.5
7.8
2,353.1
858.3
942.6
6.2
2,331.7
950.0
1,067.4
7.3
2,244.9
1,111.1
50.5
1,511.0
19.6
1,361.2
29.7
1,092.6
30.8
1,431.1
26.5
1,505.4
1,345.8
20.5
1,533.0
43.0
1,386.7
40.3
1,564.5
5,719.0
6,681.4
4,861.9
5,429.9
5,929.3
5,986.0
5,814.4
5,916.0
6,100.8
5,321.9
3,037.1
539.9
1,311.3
364.8
3,382.5
513.7
1,525.1
414.4
3,073.5
555.4
1,382.1
353.6
2,701.1
492.9
1,155.9
366.7
3,826.4
555.1
1,827.3
518.9
3,696.8
596.6
1,712.9
425.9
3,440.0
573.1
1,601.6
390.6
3,702.1
581.4
1,764.1
491.2
3,925.4
689.6
1,838.3
490.8
3,737.4
658.0
1,653.3
524.4
79.2
2,070.8
111.5
2,364.5
19.8
228.2
5.0
156.4
27.0
216.6
12.5
199.8
11.5
177.0
mil. $.
do...
2,870.4
68,782.9
2,676.6
81,911.1
273.7
8,101.9
188.0
6,694.4
187.8
5,884.2
222.5
6,995.6
277.4
8,392.1
do..
do..
do..
do..
9,481.9
91.5
20,239.2
9,673.7
10,128.6
86.5
25,123.7
10,607.4
944.8
7.8
2,334.5
1,067.5
802.4
7.0
2,064.5
989.1
682.0
8.3
1,827.0
706.5
730.6
6.2
1,944.2
796.9
992.8
7.6
2,575.9
1,022.9
do.
do.
408.6
14,937.3
558.2
15,396.0
31.6
1,289.2
42.1
1,127.3
47.9
1,241.6
25.4
1,098.6
do..
69,006.3
68,252.6
5,475.6
5,224.8
5,571.6
do..
do..
do..
do..
43,447.5
7,526.2
19,131.8
6,537.0
39,541.2
6,812.9
17,301.7
5,096.7
3,501.8
599.4
1,667.0
383.6
2,934.6
530.1
1,249.7
360.9
3,207.5
518.6
1,381.3
466.8
mil. $
do..
do..
do..
14.2
251.0
1,789.5 1,608.8 1,635.7 1,619.9 1,869.2 1,651.6 1,525.8 1,774.2 2,032.4 1,813.5 1,684.4 1,798.0 1,686.7
20,004.5 21,284.4
325,271.0 348,676.9 32,331.2 27,866.7 27,059.6 28,398.1 34,317.6 26,143.6 25,940.6 30,532.5 31,164.3 30,169.6 31,628.7 r33,468.4 34,157.4
18,649.3 20,802.5 1,826.8 1,609.4 1,653.3 1,578.4 1,918.0 1,590.1 1,476.8 1,753.1 1,943.8 1,742.4 1,650.5 1,868.4 1,724.9
316.4
338.5
320.2
309.9
322.0
3,866.1
3,726.7
328.6
360.3
302.0
322.2
409.8
356.3
319.9
346.1
do..
do ..
do..
10,391.2
53,917.1
49,606.6
10,431.5
37,309.9
34,140.4
2,933.3
2,689.4
2,510.6
2,293.7
2,933.0
2,719.9
2,662.2
2,437.7
3,014.3
2,724.1
2,646.7
2,441.1
2,564.2
2,335.2
3,439.9
3,105.1
3,119.5
2,972.2
2,979.3
2,779.0
do..
do..
do.
672.2
14,532.8
46,451.2
515.9
15,000.7
48,825.9
49.0
1,359.5
4,738.4
36.8
1,188.3
31.2
1,153.2
3,909.1
35.2
1,106.2
3,933.1
44.6
1,353.7
4,737.1
1,208.3
3,518.6
34.5
1,136.8
3,886.0
34.2
1,305.2
4,126.3
48.1
1,422.9
4,442.1
1,345.6
4,131.2
do..
do..
do.
do..
4,032.4
3,425.4
3,242.4
3,894.6
3,773.7
4,593.3
4,348.0
40.1
1,325.5
32.8
1,318.8
56.2
1,352.2
4,425.2
4,578.7
4,722.6
137,263.5 161,561.6 14,874.9 12,714.8 12,136.2 13,548.3 16,403.9 12,354.2 11,849.1 14,391.0 14,724.1 14,623.3 14,951.3 15,533.1 14,796.6
75,298.7 87,548.6 8,220.3 7,157.7 6,920.7 7,318.9 8,970.9 6,616.0 6,362.0 7,724.9 8,301.5 8,019.6 7,952.9 8,366.5 8,456.0
61,964.8 74,013.0 6,654.6 5,557.1 5,215.5 6,229.4 7,433.1 5,738.1 5,487.1 6,666.1 6,422.6 6,603.7 6,998.4 7,166.6 6,340.5
55,739.7 66,572.4 6,023.3 5,118.0 4,663.6 5,708.9 6,776.6 5,231.1 5,063.0 6,075.3 5,845.4 6,028.5 6,367.3 6,370.7 5,620.2
Aug.
September 1987
SURVEY OF CURRENT BUSINESS
S-18
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
Annual
,,L n i..t s
1985
1984
1987
1986
1986
July
Aug.
Oct.
Sept.
Nov.
Jan.
Dec.
Mar.
Feb.
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....
General imports:
Unit value
do....
Quantity
do...
Value
do...
Shipping Weight and Value
Waterborne trade:
Exports (incl. reexports):
Shipping weight
thous. sh. tons.
Value
mil. $.
General imports:
Shipping weight
thous. sh. tons.
Value
mil. $.
155.0
113.0
175.2
155.4
112.6
175.0
157.7
102.7
161.9
156.2
109.7
171.3
157.2
109.2
171.6
156.9
120.6
189.2
156.8
116.2
182.1
157.5
114.9
180.9
157.3
102.7
161.6
155.5
117.5
182.8
157.9
131.1
207.0
158.2
124.8
197.4
158.9
125.9
200.0
157.9
126.9
200.4
159.4
148.6
154.0
164.9
253.9
153.0
183.7
281.0
152.0
159.7
242.7
151.6
155.8
236.3
156.3
158.2
247.2
156.5
190.4
298.0
155.6
147.1
228.9
157.2
143.9
226.2
158.4
167.9
266.0
159.8
171.1
273.4
161.2
163.3
263.4
163.5
167.7
274.3
165.2
175.7
290.3
349,964
91,679
328,419
87,946
25,904
6,679
27,907
7,504
28,376
6,850
30,139
7,572
29,036
7,695
29,715
7,794
394,442 450,214
205,606 217,781
45,138
21,026
38,870
17,961
43,836
16,803
35,533
17,388
40,210
20,962
35,044
16,113
157.0
158.0
161.5
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers
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
Operating revenues (quarterly) §
Operating expenses (quarterly) §
Net income after taxes (quarterly) §
22.92
336
94
10,652
9,865
314
24.30
392
107
5.82
286
32
2,607
2,259
229
5.20
326
36
747
820
27.62
56.9
3,564
30.67
58 8
3,866
12,512
9,775
1,510
236
12,084
84
28.66
55 6
3,538
25 61
328
148
10,327
9,849
145
23 41
303
106
5.06
271
52
2,106
2,157
72
5.25
230
32
758
737
703
789
153.0
159.6
160.4
35.60
64.3
4,318
bil..
mil..
do....
mil. $ ..
do....
do....
270.06
3,132
1,213
37,629
36,611
248
'301.84
'3,990
' 1,247
'40,921
'39,833
'-17
28.68
332
97
bil..
mil
do
mil. $ ..
do....
do....
65.84
2,874
443
8,302
7,984
359
64.44
3,346
433
8,616
8,449
-169
6.92
296
33
mil..
9,138
9,009
719
100
17,349
100
18,480
100
4 728
100
4,775
360
548
176
111
159
166
42
42
136.7
148.1
do....
27,635
26,711
106
25,258
' 1 724
1,779
'25,957
'25,098
110
'24,652
1168
733
6,428
6,211
30
5 986
334
341
6,466
6,244
28
6,778
279
-36
0
bil..
12/84 = 100 ..
877.0
99.9
874.5
100.8
ioi'.'i
ioi'.o
218.3
100.8
100.6
100.6
221.6
99.6
99.7
'99.7
226.4
99.7
100.1
100.0
1967 = 100.
dollars.
% of total.
dollars..
% of total.
69.92
64
47.71
64
219
66.00
48
62.00
31
230
71.03
67
50.51
72
212
69.50
73
48.91
72
217
75.06
66
47.74
59
231
77.08
71
46.62
61
214
76.93
65
42.24
55
229
74.95
53
45.76
47
175
79.55
59
46.68
54
213
83.16
69
48.29
64
236
92.30
76
52.98
75
216
86.54
71
47.83
69
253
83.07
70
47.98
64
dollars
% of total.
30.13
64
31.13
31.84
77
32.88
80
31.24
64
30.32
64
32.33
56
29.53
47
30.76
53
31.86
59
33.33
68
33.24
65
35.31
67
thous .
do
do...
do...
do...
do...
15,252
14,768
8,903
7,725
4,955
49,329
15,343
14,357
10,265
8,818
4,110
52,749
3
1,063
3
1,030
3
3
1,396
3
1,287
3
274
2,168
3,448
3,362
2,462
2,106
276
1,467
3
1,413
3
1,133
3
313
10,022
4,549
4,184
3,300
2,902
285
5,659
518
3,041
477
4,924
Class I Railroads t
Financial operations, quarterly (AAR),
excluding Amtrak:
Operating revenues, total #
Freight
Passenger, excl. Amtrak
Operating expenses
mil. $..
do....
do....
do
Travel
Lodging industry:
Restaurant sales index....same month
Hotels: Average room sale ()
Rooms occupied
Motor hotels: Average room sale <>
Rooms occupied
Economy hotels: Average room
sale A..
Rooms occupied
Foreign travel:
U.S. citizens: Arrivals (quarterly)
Departures (quarterly)
Aliens: Arrivals (quarterly)
Departures (quarterly)
Passports issued
National parks, recreation visits # #
29.50
58.0
3,792
'366.28
60.2
'45,646
49,987
39,608
5,623
833
'48,725
'-176
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 carriers of general freight,
seas, adj
1967 — 100
See footnotes at end of tables.
28.75
57.2
3,623
13,365
10,767
1,429
192
12,230
542
335.90
61.4
41,252
'48,580
'40,941
'2,748
893
'47,207
'583
Urban Transit Systems
Passengers carried, total *
Ordinary income t
Traffic:
Revenue ton-miles, qtrly. (AAR)
Price index for railroad freight
38.08
69.2
4,571
bil
percent..
mil..
mil. $..
do....
do....
do
do....
do....
152.2
365
9,710
30.33
348
98
7.74
284
33
713
153.8
155.7
157.1
272
4,417
22.98
346
102
4.63
311
43
727
156.1
153.7
12,638
9,918
1,447
211
12,514
-233
10,449
10,367
279
2,122
2,084
20
772
775
333
1,544
3
"162.7
6,446
6,229
28
5,752
403
444
675
568
385
1,494
3
770
701
543
2,039
r
230 5
100.2
3
68 9
100.1
3
94.0
100.2
3
536
7,371
495
9,787
372
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
S-19
SURVEY OF CURRENT BUSINESS
,, ..
Lnits
1985
BUSINESS STATISTICS: 1984
1987
1986
Annual
1986
July
Sept.
Aug.
Nov.
Oct.
Dec.
Jan.
Apr.
Mar.
Feb.
June
May
July
TRANSPORTATION AND COMMUNICATION—Continued
COMMUNICATION
Telephone carriers: ()
Operating revenues #
mil. $
Station revenues
do..
Tolls, message
do..
Operating expenses (excluding taxes)
do..
Net operating income (after taxes)
do..
Access lines *
mil
Telegraph carriers, domestic and overseas: @
Operating revenues
mil. $
Operating expenses
do..
Net operating revenues (before
taxes)
do..
71,685
29,817
8,214
47,035
12,934
73,897
31,218
8,536
48,553
13,140
2
108.0
2
99.5
2
1,367.0
1,203.8
91.9
2
108.3
2
93.7
2
89.5
'84.4
18,688
7,870
2,200
12,212
3,301
108.8
275.7
2
6,356
2
2,687
2
753
2
4,182
2
1,137
2
109.2
2
2,451
2
662
2
3,952
2
1,074
2
109.4
2
2
98.6
2
2
6,343
2
2,641
2
775
2
4,466
2
927
2
109.5
89.9
93.5
2
-4.4
-2.4
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic Chemicals
Production:
Aluminum sulfate, commercial (17% A12O3) t
thous. sh. tons.
Chlorine gas (100% Cl2) t
do...
Hydrochloric acid (100% HC1) t
do...
Phosphorus, elemental t
do...
Sodium hydroxide (100% NaOH) $
do ...
Sodium silicate, anhydrous t
do...
Sodium sulfate, anhydrous t
do...
Sodium tripolyphosphate
(100% NasPsOio) t
doTitanium dioxide (composite and
pure) t
do...
Sulfur, native (Frasch) and recovered:
Production
thous. met. tons.
Stocks (producers') end of period
do...
Organic Chemicals §
Production:
Acetylsalicylic acid (aspirin)
Ethyl acetate t
Formaldehyde (37% HCHO)
Glycerin, refined, all grades
Methanol, synthetic
Phthalic anhydride
ALCOHOL
Ethyl alcohol and spirits:
Production
Stocks, end of period
Denatured alcohol:
Production
Consumption (withdrawals)
For fuel use
Stocks, end of period
See footnotes at end of tables.
1,213
10,352
2,929
363
113
907
10,959
737
1,199
10,949
792
802
943
54
62
607
110
877
234
28
218
32
86
815
201
29
96
923
230
29
242
28
224
26
92
909
222
32
95
900
233
30
99
892
221
28
103
880
222
28
108
903
229
26
918
70
62
865
48
65
971
56
70
877
89
57
904
92
64
960
63
65
938
76
944
83
65
931
75
69
955
73
66
61
50
50
73
76
754
2,676
781
2,675
'783
2,662
792
2,659
1,267
1,225
933
62
61
46
75
78
740
2,805
788
2,758
82
'10,324
2,799
9,862
2,748
819
2,900
815
2,987
787
2,919
785
2,830
807
2,779
872
2,748
855
2,820
17,319
14,005
1,008
1,097
1,109
1,162
1,100
1,218
1,333
6,776
2,093
7,364
5,556
2,085
6,562
422
173
492
456
172
522
426
171
504
423
181
513
485
182
579
483
186
536
572
183
654
577
183
636
530
193
594
r
160
446
377
157
452
420
187
507
2,780
10,518
39,651
2,608
9,206
36,822
185
692
2,899
185
706
2,877
193
820
3,253
171
906
3,461
177
818
3,130
198
855
3,374
245
794
3,040
251
789
250
901
3,406
285
951
3,481
285
847
3,278
r
201
780
3,048
218
809
3,192
15,475
1,129
5,964
12,710
775
5,521
954
763
160
1,084
648
358
1,207
509
548
1,290
660
299
1,107
815
326
1,189
775
549
1,204
671
752
1,183
511
473
1,328
401
571
1,415
420
768
1,294
632
486
l,140
r
552
'592
1,198
616
561
403
8,233
142
561
291
7,536
118
19
16
268
28
29
552
12
717
3
25
12
409
0
28
25
607
64
17
526
4
591
2
54
35
714
15
55
39
742
24
46
36
895
7
24
27
443
16
20
25
458
6
15
13
473
7
mil. cu. ft..
5,051
do.... 121,345
do.... 665,190
do.... 392,554
4,726
122,629
671,183
399,347
345
10,587
55,077
33,197
56,902
32,943
427
10,541
55,408
33,078
462
10,028
57,305
32,627
465
10,085
55,626
32,590
473
11,832
55,995
478
11,293
55,389
34,756
478
11,339
51,785
30,511
11,632
58,425
34,924
473
12,091
55,996
33,889
477
11,769
57,565
34,726
r
409
12,563
r
57,519
r
33,497
407
12,564
57,540
35,274
Inorganic Fertilizer Materials
Production:
Ammonia, synthetic anhydrous t
thous. sh. tons.,
Ammonium nitrate, original solution t
do...
Ammonium sulfate t
do....
Nitric acid (100% HNO3) $
do...
Nitrogen solutions (100% N) $
do...
Phosphoric acid (100% P2O5) t
do...
Sulfuric acid (100% H2SO4) t
do...
Superphosphate and other phosphatic
fertilizers (gross weight):
Production
thous. sh. tons..
Stocks, end of period
do....
Potash, sales (K2O)
do....
Imports:
Ammonium nitrate
do....
Ammonium sulfate
do....
Potassium chloride
do....
Sodium nitrate
do....
Industrial Gases t
Production:
Acetylene
Hydrogen (high and low purity)
Nitrogen (high and low purity)
Oxygen (high and low purity)
1,003
10,469
2,777
359
mil. lb..
27.1
'28.2
' 198.5
'192.0
do....
do.... '5,606.1 '5,860.9
do....
295.0
321.1
mil. gal.. '753.5 '1,102.8
mil. lb.. '820.2
'864.2
mil. tax gal..
do....
mil. wine gal..
do....
do....
do....
681.0
46.9
r
48.9
39.8
512.2
513.8
222.9
26.5
r
34.5
35.8
17.2
26.0
644.6
47.5
407.8
443.9
226.1
23.8
r
30.5
35.6
17.7
23.0
6.7
5,1.2
1,395.3
7.5
44.7
1,467.1
18.8
284.1
224.2
22.8
284.8
r
1,367
1,398
454
159
554
r
5.5
54.7
1,613.5
r
24.6
284.9
272.6
7.6
45.8
1,341.5
25.1
237.3
257.8
56.7
35.8
62.2
47.6
54.2
45.7
60.8
47.5
62.2
48.9
54.9
49.9
55.8
41.2
60.2
45.4
31.1
37.4
19.4
20.0
37.4
35.0
14.6
23.6
28.8
38.1
22.2
26.9
33.5
34.1
15.4
23.8
31.2
34.9
14.2
16.8
29.7
33.6
15.0
20.9
34.4
44.8
25.3
10.2
35.9
38.7
17.0
8.0
Aug.
September 1987
SURVEY OF CURRENT BUSINESS
S-20
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
Annual
,,U n l..t s
1985
BUSINESS STATISTICS: 1984
1987
1986
1986
July
AuK.
Sept.
Oct.
Nov.
Dec.
Jan.
Feb.
Mar.
Apr.
CHEMICALS AND ALLIED PRODUCTS—Continued
PLASTICS AND RESIN MATERIALS
Production:
Phenolic resins
mil. lb.
Polyethylene and copolymers
do...
Polypropylene
do...
Polystyrene and copolymers
do...
Polyvinyl chloride and copolymers
do ...
PAINTS, VARNISH, AND LACQUER <>
Total shipments
mil. $.
Architectural coatings
do...
Product coatings (OEM)
do...
Special purpose coatings
do...
'1,713.8 '1,519.6
'15,318.1 '16,217.6
'5,654.4 '5,834.6
'7,229.0 '5,794.3
7,499.1
'6,667.9
9,174.8
3,825.3
3,383.5
1,966.1
393.5
4,153.5
1,481.4
1,437.5
1,927.5
364.1
4,129.7
1,466.2
1,470.6
1,883.5
9,679.1
4,121.1
3,565.9
1,992.1
871.0
411.3
270.7
189.0
860.8
392.8
286.9
181.0
858.0
360.6
322.0
175.4
880.4
340.2
370.3
169.9
661.7
257.4
270.4
133.9
628.4
235.0
266.0
127.4
4,223.1
1,576.0
4,275.7
1,555.1
(2)
1,909.1
' 1,990.9
724.6
274.1
310.7
139.9
784.7
304.9
328.8
151.0
370.2
342.9
407.0
345.7
186.1
952.2
417.2
343.8
191.2
969.5
442.8
338.7
188.1
222,736
197,328
25,409
194,019
172,803
21,216
201,837
178,600
23,236
189,499
167,470
22,029
205,986
181,765
24,221
225,483
204,675
20,808
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production:
Electric utilities, total
mil. kw.-hr.. 2,469,841 2,487,310
By fuels
.
do
2,188,686 2,196,465
By waterpower
do....
290,844
281,149
Sales to ultimate customers, total (Edison
Electric Institute) t
rnil kw -hr 2,315,006 '2,361,423
Commercial §
do
608,480 '632,811
Industrial §
do .... 821,990 '817,531
'4,730
4,697
Railways and railroads
do....
Residential or domestic
do....
797,010 '822,423
' 14,387
13,954
Street and highway lighting
do ....
'63,453
63,122
Other public authorities
do....
'6,086
5,753
Interdepartmental
do....
Revenue from sales to ultimate customers
'153,146
149,836
(Edison Electric Institute) t
mil. $..
GAS t
Total utility gas, quarterly
(American Gas Association):
Customers, end of period, total @
Residential
Commercial
Industrial @
...
Other
Sales to customers, total
Residential
Commercial
Industrial...
...
Electric generation *
Other
Revenue from sales to customers, total
Residential
Commercial
Industrial
Electric generation *
Other
242,672
218,601
24,072
225,166
203,977
21,189
206,692
185,579
21,114
197,754
176,419
21,335
196,432
173,278
23,153
213,551
187,586
25,965
639,734
176,794
209,627
1,145
230,346
3,471
16,662
1,689
576,255
154,585
204,129
1,212
195,458
3,875
15 621
1,376
600,394
155,535
199 187
1,278
224,419
3,607
15 207
1,161
578,038
158,908
211,040
1,122
187,006
3,482
15 275
1204
43 212
36,270
37 206
36,758
thous..
do ..
do
do
do....
tril. Btu..
do
do....
do
do....
do
50,158
46,099
3,834
178
47
12,616
4,513
2,338
3,686
1,949
130
51,010
46,863
3,922
177
47
10,815
4,416
2,240
2,689
1,340
130
50,405
46,348
3 834
175
47
1621
385
252
534
432
17
51,010
46,863
3 922
177
47
2,803
1,231
616
606
312
38
51,933
47,651
4 054
179
48
3,806
2,003
908
610
235
49
mil. $..
do....
do....
do....
do....
do
63,293
26,864
12,723
15,659
7,428
620
50,286
24,874
11,275
9,977
3,621
540
6,857
2,563
1,258
1,814
1,164
58
12,669
6,661
2,927
2,137
798
147
17 418
10,215
4,226
2,134
648
196
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:
mil. bbl.
Production
do...
Taxable withdrawals..
do...
Stocks, end of period..
Distilled spirits (total):
Production
...mil. tax gal
Consumption, apparent, for beverage
purposes #
mil. wine gal.
Stocks, end of period
mil. tax gal.
Imports
mil. proof gal.
Whisky:
Production
mil. tax gal
Stocks, end of period
do...
Imports
mil. proof gal.
Wines and distilling materials:
Effervescent wines:
Production
mil. wine gal.
Taxable withdrawals
do...
Stocks, end of period
do...
Imports
do...
Still wines:
Production
do...
Taxable withdrawals
do...
Stocks, end of period
do..
Imports
do..
Distilling materials produced at
wineries
...do.
See footnotes at end of tables.
17.44
16.14
15.44
193.31
175.13
13.07
196.50
178.39
13.42
18.33
17.26
15.22
17.06
15.78
14.41
15.26
14.02
14.06
15.62
14.64
13.75
13.53
12.48
13.40
13.97
12.84
13.42
15.60
13.61
14.07
15.63
13.74
14.67
17.66
15.31
15.44
17.42
15.91
15.47
416.07
530.46
115.78
392.50
500.75
103.59
31.85
521.06
8.92
30.94
516.00
8.09
31.92
510.51
8.20
33.73
503.84
10.40
36.47
501.29
14.15
47.00
500.75
8.67
28.01
496.43
8.42
27.35
494.72
13.07
31.23
492.99
7.69
30.00
492.69
7.45
60.17
460.53
79.68
50.44
433.63
67.68
3.73
454.79
5.57
1.95
450.37
5.03
2.18
444.63
5.74
3.95
440.14
7.10
3.61
435.43
9.56
3.66
433.63
5.08
3.28
427.09
3.92
3.90
430.41
10.33
4.73
427.34
5.60
4.90
428.01
5.23
32.19
30.86
14.69
15.76
30.57
30.10
15.96
14.30
3.16
1.01
17.52
.96
3.01
2.14
18.56
1.10
3.01
2.07
17.16
.97
4.22
4.66
18.73
1.34
2.85
4.72
15.90
2.49
15.96
1.56
1.84
1.32
16.62
.46
2.77
1.28
17.36
2.01
1.78
17.01
1.13
1.12
2.00
16.91
1.11
1.60
3.29
16.14
1.04
454.54
413.00
594.60
121.00
481.90
460.25
598.43
90.31
5.24
43.60
405.86
7.10
97.65
51.36
459.06
6.36
185.41
32.37
601.25
6.38
109.43
38.20
614.81
8.18
30.03
34.30
626.53
8.95
24.40
33.61
598.43
6.67
6.71
31.52
587.20
5.96
5.21
33.42
608.79
5.76
5.02
44.29
525.26
7.62
5.82
43.15
545.88
8.13
4.51
41.68
468.33
7.22
153.98
143.17
4.08
22.77
10.12
8.19
8.33
11.09
6.42
3.32
18.58
16.62
15.42
932.7
421.6
315.3
195.8
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
Annual
.,
IT
Lnits
1985
BUSINESS STATISTICS: 1984
S-21
1987
1986
1986
Aug.
July
Sept.
Oct.
Nov.
Dec.
Jan.
Apr.
Mar.
Feb.
Aug.
July
June
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter:
Production (factory)
mil. lb..
Stocks, cold storage, end of period
do....
Producer Price Index
1967 = 100 ..
Cheese:
Production (factory), total
mil. lb..
American, whole milk
do...
Stocks, cold storage, end of period
do....
American, whole milk
do....
Imports
do....
Price, wholesale, cheddar, single daisies
(Chicago)
$ per lb..
Condensed and evaporated milk:
Production, case goods
mil. lb..
Stocks, manufacturers', case goods, end of
period
do....
Exports
do....
Fluid milk:
Production on farms
do....
Utilization in manufactured dairy
products
do....
Price, wholesale, U.S. average
$ per 100 lb..
Dry milk:
Production:
Dry whole milk
mil. lb..
Nonfat dry milk (human food)
do....
Stocks, manufacturers', end of period:
Dry whole milk
do....
Nonfat dry milk (human food)
do....
Exports, whole and
nonfat
(human food)
do....
Price, manufacturers' average selling, nonfat
dry milk (human food)
$ per lb..
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats, rye,
wheat)
mil. bu ..
Barley:
Production (crop estimate)
do....
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do....
Exports, including malt §
do....
Producer Price Index, No. 2 feed,
Minneapolis
1967 = 100..
Corn:
Production (crop estimate, grain
only)
mil. bu ..
Stocks (domestic), end of period, total
do....
On farms
do....
Off farms
do....
Exports, including meal and flour
do....
Producer Price Index, No. 2, Chicago
1967 = 100..
Oats:
Production (crop estimate)
mil. bu ..
Stocks (domestic), end of period,
total
do....
On farms
do...
Off farms
do....
Exports, including oatmeal
do....
Producer Price Index, No. 2, Minneapolis
1967 = 100..
Rice:
Production (crop estimate)
mil. bags #..
Southern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers
mil. lb.
Shipments from mills, milled
rice
do...
Stocks, domestic, rough and cleaned (cleaned
basis), end of period
mil. lb.
Exports
doProducer Price Index, medium grain,
milled
1967 = 100.
Rye:
Production (crop estimate)
mil. bu .
Producer Price Index, No. 2,
Minneapolis
1967 = 100.
Wheat:
Production (crop estimate), total
mil. bu .
Spring wheat
do...
Winter wheat
do...
Distribution, quarterly @
do...
Stocks (domestic), end of period, total
do...
On farms
do...
Off farms
do...
Exports, total, including flour
do...
Wheat only
do...
See footnotes at end of tables.
79.7
337.6
220.4
69.9
304.4
234.9
80.2
279.6
234.8
85.3
253.3
236.0
5,209.2
2,798.2
693.6
601.7
311.4
436.6
242.1
915.6
815.1
24.6
421.7
219.2
916.2
816.0
23.1
410.1
198.2
859.0
759.9
25.8
410.2
196.4
805.0
711.2
30.7
1.575
1.572
1.596
1.597
1,247.8
205.5
217.1
1,202.4
193.0
223.0
5,080.9
2,855.2
852.9
758.8
302.5
107.6
254.0
212.3
-•212.8
101.7
250.2
214.0
83.1
237.9
216.9
79.1
208.5
228.1
401.0
194.1
757.0
665.5
33.2
439.4
217.7
693.6
601.7
31.3
413.6
219.5
680.8
587.2
14.4
400.9
211.2
652.9
564.8
15.5
455.9
238.7
645.9
556.5
21.4
458.3
246.0
645.7
554.0
15.6
484.7
264.3
670.1
573.0
16.4
463.8
246.1
659.1
564.7
18.4
461.0
240.6
1.599
1.599
56.3
52.9
50.0
84.2
1.1
93.9
.4
10,433
50.1
55.0
.4
.5
58.8
.4
9,279
10,376
10,378
10,957
10,491
6,304
12.90
7,179
12.50
7,291
12.30
7,696
12.00
7,395
11.90
11.3
82.1
12.6
80.3
11.3
87.8
9.4
101.4
11.1
118.6
12.4
104.8
6.7
57.9
6.5
55.3
8.0
66.5
7.4
60.5
9.2
65.3
6.6
8.2
83.4
7.3
71.3
52.0
39.5
20.4
24.3
47.9
26.4
35.4
27.0
66.1
.816
.814
.802
.794
.794
.792
.794
.795
.793
190.3
179.9
.5
9,662
9,732
9,400
9,717
6,252
12.80
6,143
13.20
5,694
13.40
6,416
13.40
6,468
13.30
11.2
90.4
10.1
74.3
9.9
11.4
66.7
9.1
89.4
6.8
65.1
6.6
52.1
4.3
39.9
5.6
43.7
41.3
57.9
.807
.810
111.8
.5
105.1
.5
87.8
143,147
122,185
10,468
10,169
82,951
12.75
82,606
12.50
7,053
12.00
6,556
12.30
122.4
1,284.1
10.8
110.9
6.5
78.2
6.7
57.9
6.8
67.2
276.1
482.4
.849
.810
2,083.9
155.4
304.7
2
610.5
4
324.8
4
199.3
4
125.6
75.9
1.6
12.5
12.8
16.6
14.4
14.7
1.3
16.5
18.2
17.2
142.5
10.7
.7
7.7
150.1
121.3
101.9
93.4
101.9
123.2
141.8
118.9
118.5
118.2
118.5
150.3
163.1
144.4
140.1
204.8
161.6
2
379.6
311.2
68.4
4
336.4
4
193.9
4
1
4,039.5
1
2,049.4
1
44.8
1,990.1
50.0
80.3
158.2
133.6
116.8
109.9
104.4
126.6
132.8
120.0
112.2
183.
119.7
131.6
2,839.9
169.2
119.9
133.7
144.1
129.
< 132.7
103.
4
1.7
147.2
'36.5
3.9
.3
.4
.4
.5
.2
.1
.3
.2
.2
.1
216.8
188.6
153.8
158.1
179.6
199.0
247.9
237.1
235.7
235.7
222.7
241.4
231.3
1,166
3,524
1,200
785
230
551
438
462
9,230
10,242
391
5,659
6,556
624
632
689
616
616
645
603
2,751
4,101
3,046
5,111
960
603
1,180
778
2,819
835
3,034
2,975
446
3,046
323
2,737
206.3
178.4
2
2
20.6
2,425
2
598
2
1,828
2,132
2,526.2
1,011
1,515.0
926.8
893.1
244.3
" 126.8
134.4
565
990
343
58:
2,556
411
365
580
681
591
2,302
365
1,983
399
1,748
560
254
582
149.1
149.4
148.9
180.
150.4
148.1
19J
167.:
196.9
114.9
" 392.8
384.5
4
183.7
4
134.9
2
118.5
141.6
129.1
'7,140.5
3
6,331.7
5
3,491.8
3
8,248.2
5,024.0
3,224."
10,304.1
6,795.5
3,508.6
114.3
124.1
2
8
10,270
"12.20
591.4
530.9
365.6
165.4
34.8
8,876.7 2 8,252.8
7,894.8 10,304.1
5,528.6 7 6,795.5
2,366.2 73,508.6
1,731.6 1,064.7
227.6
646.0
550.5
27.6
47.2
49.9
.2
106.9
.3
104.2
247.5
53.3
39.8
45.0
48.6
45.0
10.8
2
97.8
231.6
210.3
47.3
45.2
62.3
11.6
2
109.2
206.6
210.3
62.1
.6
635.3
2
101.3
193.0
234.9
80.3
218.5
235.3
128.9
128.9
137.5
169.2
139.6
167.5
148.2
2
2,08'
2
568
2
1,519
2,073
7
2,671
7
1,063.0
7
1,608.
108.7
104.0
842
3,154.6
1,293.0
1,861.6
119.9
113.4
102.0
97.8
83.5
6
487
2,671.5
1,063.0
1,608.5
61.1
59.1
"2,114
"548
"1,567
424
2,249.8
794.0
1,455.8
54.8
49.6
71.6
65.0
66.0
62.5
'1,814.8
4
560.0
'1,254.8
71.8
70.6
65.1
63.9
124.6
119.4
163.
157.0
September 1987
SURVEY OF CURRENT BUSINESS
S-22
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
„ vnns
..
BUSINESS STATISTICS: 1984
1985
1987
1986
Annual
July
1986
Aug.
Nov.
Oct.
Sept.
Feb.
Jan.
Dec.
Apr.
Mar.
Aug.
July
June
May
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS—Continued
Wheat—Continued
Producer Price Indexes:
Hard red winter, No. 1, ord. protein (K.C.)
1967 = 100..
Hard red spring, No. 1, ord. protein (Minn.)
1967 = 100..
Wheat flour:
Production:
Flour
thous. sacks (100 lb.)..
Millfeed
thous. sh. tons..
Grindings of wheat
thous. bu..
Stocks held by mills, end of period
thous. sacks (100 lb.)..
Exports
do....
Producer Price Index
6/83= 100 ..
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:
roduction on farms
mil. cases §..
Pro
Stocks, cold storage, end of period:
Shell
thous. cases § .
Frozen
mil. lb.
Price, wholesale, large (delivered; Chicago)
$ per doz.
204.6
176.9
152.1
149.2
151.0
157.6
158.8
163.9
161.5
166.1
173.9
173.2
193.6
161.5
156.7
155.4
186.4
160.5
124.2
135.8
147.9
148.7
156.0
154.5
155.3
151.2
144.0
142.6
155.7
147.3
145.5
142.6
313,815
5,556
700,151
341,166
6,011
758,468
27,643
490
61,680
30,212
534
67,284
30,409
541
67,817
31,807
569
71,113
30,251
546
67,714
29,510
532
65,944
28,055
503
61,667
27,970
506
61,581
28,992
512
63,819
27,457
507
63,513
29,968
534
67,648
29,753
532
66,875
27,806
500
62,899
4,847
14,454
96.6
5,228
23,741
91.4
""2,044
87.9
2,791
87.0
5,101
1,824
85.4
2,541
86.9
5,228
2,240
86.9
2,800
87.0
1,508
89.1
5 738
2,417
89.2
2,852
r
89.8
2,856
93.6
'6,176
2,233
89.0
2,633
88.1
16,972
18,037
1,554
1,528
1,629
1,677
1,553
1,545
1,418
1,595
1,592
1,589
516
301
324
150
1,400
369
178
569
388
629
449
689
512
716
543
423
249
369
178
389
198
409
211
427
227
457
251
r
r
r
l,772
1,678
592
381
674
473
.250
.255
.290
12.9
'13.3
'13.3
38
17
32
17
34
17
.590
.518
.556
.554
251
2,805
215
2,875
189
2,780
214
2,945
220
3,009
61.02
61.58
66.30
70.66
68.83
65.80
69.01
68.28
68.47
70.00
70.56
75.00
70.53
90.00
70.21
90.63
71.22
77.50
6,723
5,886
6,786
6,492
5,916
5,987
6,019
52.02
47.56
49.08
48.67
52.10
55.79
61.37
62.69
60.56
33.7
32.1
33.9
32.2
33.4
32.8
35.7
'37.3
40.0
.280
.280
.325
.420
.425
.340
.370
.330
.295
.295
.275
.270
.270
190.0
190.3
15.8
15.9
15.4
16.1
15.9
16.6
16.4
14.9
16.8
16.1
24
13
22
13
25
15
33
15
29
14
20
14
22
13
20
14
25
13
32
14
28
15
.634
.681
.694
.700
.694
.663
.741
.728
.644
.620
.592
3,168
34,765
3,195
35,913
281
3,213
262
3,101
263
3,019
276
3,164
238
2,693
272
2,944
248
3,084
225
2,564
58.37
57.74
58.27
59.04
59.43
59.73
59.82
58.79
62.08
58.28
60.38
59.92
57.98
62.13
62.20
62.50
61.51
67.50
61.94
67.50
62.77
67.50
62.83
67.50
65.75
65.94
81,974
77,290
5,918
5,799
6,323
7,083
6,064
6,558
44.98
50.73
61.59
63.66
59.59
54.86
54.44
17.6
26.1
29.5
35.9
40.2
37.9
35.9
5,976
5,464
432
426
495
495
401
442
418
390
432
477
363
407
411
68.41
67.54
70.50
66.16
62.45
57.23
65.17
72.70
77.25
74.62
82.50
85.50
89.94
85.42
74.02
39,131
607
39,050
564
3,281
619
3,180
572
3,259
541
3,506
572
2,986
564
3,261
564
3,410
598
2,877
599
3,198
595
3,160
591
2,975
559
3,102
498
3,157
515
1,461
1,722
125
147
159
188
170
171
151
133
151
157
176
167
177
2,511
2,544
260
232
232
223
23'
168
211
218
236
240
222
268
277
24,055
329
660
1,449
24,722
318
884
1,505
2,192
346
56
165
2,117
327
80
148
2,093
299
87
143
2,190
301
107
127
1,845
304
2,012
318
80
87
2,141
327
76
118
1,783
313
64
131
1,945
317
69
140
1,962
318
66
143
1,883
285
69
132
1,993
257
69
168
2,051
285
76
178
.913
.890
.892
.910
.905
.918
.920
.897
.917
.929
1.009
1.078
1.057
.993
350
13
330
13
26
14
25
15
30
14
30
15
24
14
28
13
25
12
24
14
27
14
29
13
22
13
24
11
25
10
14,726
229
192
934
13,998
197
133
928
1,063
215
1,037
185
1,137
186
1,117
206
13
91
1,221
197
13
74
1,244
218
10
85
1,070
22!
77
1,226
221
12
86
1,169
218
11
86
1,070
219
14
78
1,086
189
10
89
1,082
175
80
1,285
216
11
87
284.5
312.5
308.3
336.4
346.4
368.2
376.5
372.1
309.7
295.2
292.8
301.2
300.8
302.9
313.1
312.5
1.136
1.285
1.486
1.504
1.440
1.305
1.216
1.251
1.191
1.24
1.132
1.228
1.363
1.460
1.395
1.429
266.1
201.5
21.2
22.5
11.8
7.8
14.9
17.2
26.1
22.8
30.5
20.6
1,513
84
1,64
60
77.5
1,535
239
1,218
118
1,84
236
49 2
1,789
346
332
347
349
29
28
27
J
13.5
J
LIVESTOCK
Cattle and calves:
Slaughter (federally inspected):
Calves
thous. animals,
Cattle
do...
Prices, wholesale:
Beef steers (Omaha)
$ per 100 lb..
Steers, stocker and feeder
(Kansas City)
do....
Calves, vealers (So. St. Paul)
do....
Hogs:
Slaughter (federally inspected) thous. animals..
Prices:
Wholesale, average, all weights (Sioux City)
$ per 100 1b..
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)
$ p e r 100 lb.
MEATS
Total meats (excluding lard):
Production
mil. lb.
Stocks, cold storage, end of period
do...
Exports (meats and meat preparations)
do.
Imports (meats and meat preparations)
do
Beef and veal:
Production, total
do
Stocks, cold storage, end of period
do.
Exports
do
Imports
do
Price, wholesale, beef, fresh steer carcasses,
choice (600-700 lbs.)
(Central U.S.)
$ per lb.
Lamb and mutton:
Production, total
mil. lb.
Stocks, cold storage, end of period
do...
Pork (excluding lard):
Production, total
do..
Stocks, cold storage, end of period
do..
Exports
do..
Imports
do...
Prices:
Producer Price Index, Hams, smoked
1967 = 100.
Fresh loins, 8-14 lb. average,
wholesale (N.Y.)
$ per lb.
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans, imports
(including shells)
thous. lg. tons
Coffee:
Imports, total
thous. bags <0
From Brazil
do..
U.S. Import Price Index *
6/77 = 100
Fish:
Stocks, cold storage, end of period
mil. lb.
See footnotes at end of tables.
18,698
4,148
59.
362
19,483
2,200
77.
34
84
1,549
47
29
T
1,449
91
1,192
156
62.2
1,092
177
340
323
28.0
r
1,88
40
28
87
10.2
10.6
2,18
363
46
1,717
345
32
75.31
79.22
355
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
., ..
unus
BUSINESS STATISTICS: 1984
Annual
1985
S-23
1987
1986
1986
July
Aug.
Sept.
Oct.
Dec.
Nov.
Jan.
Aug.
Feb.
Mar.
Apr.
May
June
July
49,937
129
62,915
140
85,425
146
87,312
116
34,371
74
52,906
167
304.8
169.5
14,495
305.8
169.3
19,830
'307.0
171.5
14,634
308.1
170.8
16,835
309.0
171.9
12,421
310.8
172.7
12,838
FOOD AND KINDRED PRODUCTS; TOBACCO—Cont.
MISCELLANEOUS FOOD PRODUCTS-Cont.
Sugar:
Exports, raw and refined
sh. tons. 375,782 454,394
1,913
Imports, raw and refined
thous. sh. tons.
2,423
Producer Price Indexes:
292.2
291.3
Raw (cane)
1967 = 100.
Refined
12/77 = 100 .
166.4
165.6
Tea, imports
thous. lb. 174,617 197,963
TOBACCO
Leaf:
Production (crop estimate)
Stocks, dealers' and manufacturers',
end of period
Exports, incl. scrap and stems
Imports, incl. scrap and stems
Manufactured products:
Consumption (withdrawals):
Cigarettes (small):
Tax-exempt
Taxable
Cigars (large), taxable
Exports, cigarettes
21,618
191
60,083
115
57,027
158
35,292
127
45,016
203
44,423
123
293.7
165.0
19,732
292.9
166.6
14,626
293.2
167.5
18,110
296.9
168.4
14,864
299.0
168.5
14,965
294.5
169.4
14,086
299.7
168.6
15,206
309.5
172.1
3
1,231
mil. lb.
'1,512
do...
thous. lb.
do...
5,293
538,648
430,273
4,979
466,630
457,658
16,372
40,742
millions.
do...
do...
do...
66,491
594,922
2,916
58,968
74,301
583,020
r
2,904
63,945
5,754
38,417
261
5,610
' 1,163
23,684
45,716
4,898
22,144
39,498
32,926
44,280
6,096
51,401
242
5,485
8,779
50,808
261
5,329
7,555
51,965
258
6,413
32,270
50,250
4,436
20,732
38,027
19,408
53,679
8,077
42,212
204
7,169
8,728
50,996
225
8,786
11,608
61,753
281
9,026
8,965
19,865
410.7
18,874
r
428.2
435.5
19,585
444.2
15,455
441.8
50,385
4,775
43,120
45,474
41,399
24,782
6,440
38,100
217
5,021
6,952
42,666
206
6,663
8,467
52,980
226
7,466
12,172
399.0
15,625
66,347
41,906
4,979
106,080
26,287
59,598
31,635
5,646
49,220
210
6,623
6,069
48,793
250
5,041
14,003
386.8
15,581
LEATHER AND PRODUCTS
LEATHER
Exports:
Upper and lining leather
Producer Price Index, leather
thous. sq. ft.
1967 = 100.
LEATHER MANUFACTURES
Footwear:
Production, total <>
thous. pairs.
Shoes, sandals, and play shoes,
except athletic
thous. pairs.
Slippers
do...
Athletic
do...
Other footwear
do...
Exports
do...
Producer Price Indexes:
Men's leather upper, dress and casual
12/80 = 100.
Women's leather upper
1967 = 100.
Women's plastic upper
12/80=100
131,505
353.1
11,902
390.4
16,769
391.8
11,502
382.6
265,098
241,388
18,437
20,864
19,754
21,465
18,408
16,607
17,337
18,351
19,376
18,959
18,385
18,995
199,630
54,649
10,819
2,732
9,205
176,111
55,927
9,350
2,971
10,277
14,309
3,298
830
149
927
15,657
4,233
974
231
15,618
4,918
929
333
1,057
13,449
4,136
823
264
848
13,223
2,555
829
244
785
14,510
2,338
488
442
1,078
15,348
2,488
515
473
1,214
15,674
3,182
520
378
1,264
15,456
2,932
571
458
1,114
14,848
732
14,322
4,569
863
256
930
485
1,043
15,126
3,398
471
517
1,471
2,231
109.7
223.5
104.0
112.8
225.0
104.4
111.3
224.4
104.1
112.8
222.9
104.0
113.6
223.0
104.5
113.7
226.7
104.5
113.8
226.1
104.6
227.3
104.6
227.6
104.5
228.0
100.2
229.5
104.5
230.2
102.9
230.5
104.8
115.3
230.0
93.0
231.0
102.1
2,989
r
548
115.2
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
doStocks (gross), mill, end of
period, total
do..
Hardwoods
do..
Softwoods
do..
Exports, total sawmill products
do..
Imports, total sawmill products
do..
SOFTWOODS
Douglas fir:
Orders, new
mil. bd. ft
Orders, unfilled, end of period
do..
Production
do..
Shipments
do..
Stocks (gross), mill, end of period
do..
Exports, total sawmill products
do..
Sawed timber
do..
Boards, planks, scantlings, etc
do..
Producer Price Index, Douglas fir, dressed
1967 = 100
See footnotes at end of tables.
3,291
550
2,741
3,820
660
3,160
3,689
685
3,004
3,496
798
2,698
3,480
845
2,635
3,623
888
2,735
3,791
1,056
2,735
3,293
396
2,897
3,350
449
2,901
3,307
384
2,923
3,302
453
2,849
3,742
393
3,349
3,735
480
3,255
3,616
449
3,167
3,686
499
3,187
3,518
430
3,088
3,656
471
3,185
3,905
461
3,444
4,039
492
3,547
6,484
1,762
4,722
6,590
1,750
4,840
6,653
1,724
4,929
6,715
1,677
5,038
6,549
1,509
5,040
6,495
1,456
5,039
6,625
1,513
5,112
6,607
1,404
5,203
6,554
1,373
5,181
6,432
1,335
5,097
6,233
1,306
4,927
1,078
1,222
1,329
"l',293
"i',332
824
732
56
13
43
1,032
783
1,009
981
938
56
10
46
843
728
892
898
932
61
14
47
966
753
883
941
874
56
9
47
326.4
325.9
2,961
434
2,527
2,979
427
2,552
3,441
486
2,955
3,397
538
2,859
3,344
502
2,842
6,393
1,778
4,615
14,178
14,607
1,594
"Y,'272
' "1,334"
"1,612
803
8,044
528
8,062
8,077
899
486
127
358
9,570
668
9,412
687
517
598
614
735
796
577
857
595
912
839
854
32
6
26
42
7
34
36
7
29
733
649
756
730
916
47
9
38
847
668
781
899
646
884
848
890
48
11
37
48
7
41
897
741
825
824
882
57
16
42
339.3
345.4
333.5
329.4
317.6
314.6
522
105
417
976
704
964
1,025
813
55
21
34
804
695
824
813
824
231.6
103.7
September 1987
SURVEY OF CURRENT BUSINESS
S-24
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
Annual
.. .
unus
1985
1984
1987
1986
1986
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Apr.
Mar.
Feb.
May
June
July
Aug.
LUMBER AND PRODUCTS—Continued
SOFTWOODS—Continued
Southern pine:
Orders, new
mil. bd. ft. 110,763 '11,523
Orders, unfilled, end of period
do...
710
680
Production
do... 110,730 '11,605
1
1
11,492
10,644
Shipments
do...
Stocks (gross), mill and concentration yards,
end of period
mil. bd. ft.
2,007
1,894
Exports, total sawmill products
thous. bd. ft. 169,925
Producer Price Index, southern pine,
dressed
1967 = 100.
300.7
299.9
Western pine:
Orders, new
mil. bd. ft.
9,247 10,500
Orders, unfilled, end of period
do..
433
451
Production
do..
10,482
9,276
10,482
9,221
Shipments
do..
1,312
1,312
Stocks (gross), mill, end of period
do..
Producer Price Index, other softwood,
dressed
1967 = 100
HARDWOOD FLOORING
Oak:
Orders, unfilled, end of period
mil. bd. ft
7.5
5.5
Shipments
do..
145.2
121.8
Stocks (gross), mill, end of period
do..
7.4
6.2
765
710
833
775
1,082
808
966
984
957
849
912
920
977
828
1,008
997
1,092
806
1,092
1,114
1,116
936
997
1,156
1,005
1,071
1,092
1,947
17,302
2,007
16,531
1,992
19,889
1,982
20,611
1,992
20,159
1,969
12,174
1,972
24,865
1,949
19,877
287.9
289.1
290.3
295.8
305.3
318.7
'322.6
949
531
961
935
1,330
518
841
826
1,345
830
451
864
897
1,312
957
553
840
855
1,297
852
1,327
1,016
594
1,035
1,012
1,350
1,085
732
1,014
955
778
721
919
891
703
657
676
676
1,874
12,059
1,895
16,129
1,897
15,946
1,892
15,176
302.6
303.6
295.5
971
945
1,285
995
517
1,007
988
1,304
845
726
798
822
870
467
872
860
1,259
891
1,344
344.2
966
582
928
967
1,305
418.8
11.3
4.1
9.2
12.6
4.3
8.3
12.7
5.3
7.4
14.7
5.1
7.9
11.2
5.5
7.5
12.2
7.4
1,074
607
1,051
1,049
1,307
891
551
928
947
1,288
423.0
8.3
12.4
7.1
9.4
12.3
6.9
11.5
14.6
6.2
12.9
13.6
5.9
11.3
14.1
5.7
13.5
15.9
5.9
16.1
14.5
6.2
METALS AND MANUFACTURES
IRON AND STEEL
Exports:
Steel mill products
Scrap
Pig iron
Imports:
Steel mill products
Scrap
Pig iron
87
703
1
77
1,154
10
65
731
87
728
1
84
798
22
92
900
1
115
638
2
99
1,258
12
84
1,072
3
1,529
101
33
1,586
69
44
1,359
48
20
1,927
96
26
1,521
57
13
1,500
63
13
1,852
76
14
1,807
58
1,529
50
13
1,898
55
21
1,697
1,723
62
14
2,201
2,875
5,100
4,680
1,871
3,044
5,026
4,566
1,881
5,239
4,545
1,763
3,086
4,935
4,467
1,762
3,057
4,867
4,401
1,949
3,196
5,185
4,335
1,963
3,168
4,967
4,595
3,427
5,025
4,366
5,683
4,411
r
2,150
r
3,684
r
5,751
4,407
2,053
3,567
5,729
4,187
266.2
278.0
258.2
268.9
267.7
283.7
265.7
283.7
265.7
283.7
266.7
283.7
270.3
298.6
48,751
49,411
15,955
42,374
16,749
3,086
4,799
1,700
3,041
4,600
1,120
2,986
4,147
1,444
2,767
4,093
1,191
2,221
4,036
1,228
2,342
3,375
1,267
2,782
330
959
3,029
254
438
3,258
900931
3,076
3,437
1,159
1,580
1,948
61,757
51,307
5,558
4,249
4,555
4,585
4,480
4,281
1,616
1,052
2,209
4,479
5,159
6,127
63,658
7,135
29,389
5,968
21,290
2,404
55,283
6,501
22,133
2,983
17,163
1,987
4,066
828
24,940
9,511
14,350
1,079
4,274
1,160
23,417
7,960
14,455
1,002
3,754
1,650
23,706
7,166
15,375
1,165
3,872
529
23,624
5,875
16,086
1,663
3,771
369
22,695
4,061
16,795
1,839
3,913
469
22,133
2,983
17,163
2,123
4,242
71
21,817
5,347
14,334
2,136
3,928
5,031
440
19,885
10,124
9,204
557
5,334
911
5,035
1,463
21,750
8,127
11,660
1,963
4,890
22
20,910
10,485
9,522
903
75
79
58
76
84
30
31
46
64
4,256
4,245
235
4,079
929
11,704
47
803
9
1,011
2
do...
do...
do...
24,256
611
344
20,698
724
295
2,060
49
31
30,455
70,493
5,104
26,335
37,928
65,369
4,401
273.3
287.6
Ore
Iron ore (operations in all U.S. districts):
Mine production
thous. lg. tons.
Shipments from mines
do...
Imports
do...
U.S. and foreign ores and ore agglomerates:
Receipts at iron and steel
plants
do...
Consumption at iron and steel
plants
do...
Exports (domestic)
do...
Stocks, total, end of period
do...
At mines
do...
At furnace yards
do...
At U.S. docks
do...
Manganese (manganese content),
general imports
do...
Pig Iron and Iron Products
Pig iron:
Production (including production of
ferroalloys)
thous. sh. tons.
Consumption
do...
Stocks, end of period
do..
Producer Price Index, basic
6/82=100 .
Castings, gray and ductile iron:
Shipments, total
thous. sh. tons
For sale
do..
Castings, malleable iron:
Shipments, total
do..
For sale
do..
72
964
6
932
9,950
32
Iron and Steel Scrap
Production
thous. sh. tons.
Receipts, net
do...
Consumption
do...
Stocks, end of period
do...
Producer Price Indexes, iron and steel scrap:
No. 1 heavy melting, composite *
1967 = 100 .
Pittsburgh district *
do...
See footnotes at end of tables.
103
752
thous. sh. tons .
do...
do...
3
3
3
4
50,446
51,460
3
239
43,952
41,789
226
3,526
3,428
248
2,966
2,964
241
2,982
2,869
227
3,161
3,015
228
3,097
2,972
221
3,146
3,028
226
3,214
3,046
243
3,069
3,052
214
3,891
4,122
222
10,017
6,432
7,188
4,611
568
382
562
395
601
681
428
550
367
566
374
632
416
621
423
730
481
376
198
471
153
4,048
4,222
223
r
797
515
r
727
800
552
4,235
4,164
SURVEY OF CURRENT BUSINESS
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
,, .
units
BUSINESS STATISTICS: 1984
1985
S-25
1987
1986
Annual
1986
July
Aug.
Sept.
Jan.
Oct.
*>-
METALS AND MANUFACTURES—Continued
Steel, Raw and Semifinished
Steel (raw):
Production
thous. sh. tons.
Rate of capability utilization
percent.
Steel castings:
Shipments, total
thous. sh. tons.
For sale, total
do...
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
doRails and accessories
do...
Bars and tool steel, total
do...
Bars: Hot rolled (including
light shapes)
do...
Bars: Reinforcing
do...
Bars: Cold
finished
do...
Pipe and tubing
do...
Wire and wire products
do...
Tin mill products
do...
Sheets and strip (including electrical),
total
doSheets: 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...
NONFERROUS METALS AND PRODUCTS
Aluminum:
Production, primary (dom. and foreign ores)
thous. met. tons.
Recovery from scrap t
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, U.S. market, 99.7% purity,
monthly average
$ per lb.
Aluminum products:
Shipments:
Ingot and mill prod, (net ship.)
mil. lb.
Mill products, total
do...
Sheet and plate
do...
Castings
do...
Inventories, total (ingot, mill products, and
scrap), end of period
mil. lb.
Production:
Mine, recoverable copper
thous. met. tons.
Refined from primary materials
do...
Electrolytically refined:
From domestic ores
do...
From foreign ores
do...
Electrowon *
do...
Refined from scrap <)
do...
Imports, unmanufactured (general):
Refined, unrefined,
scrap (copper cont.)
do...
Refined
do...
Exports:
Refined and scrap
do...
Refined
do...
Consumption, refined
(reported by mills, etc.) <>
do...
Stocks, refined, end of period <Q>
do...
Price, avg. U.S. producer cathode, delivered §
$perlb.
See footnotes at end of tables.
5,668
52.8
6,087
56.8
5,860
56.5
5,877
54.9
6,248
65.5
5,992
69.5
7,375
77.3,
7,402
80.3
7,641
80.2
7,349
79.7
5,923
4,899
5,199
5,664
5,527
6,234
6,312
6,247
6,656
351
367
430
539
519
541
395
274
39
1,028
317
224
31
322
256
40
365
262
41
369
255
37
412
294
48
412
319
43
1,067
354
315
45
1,069
39
1,117
499
349
98
191
81
310
532
387
104
210
475
293
86
179
68
262
490
278
85
173
64
537
282
110
540
316
105
207
88
280
630
356
115
234
101
293
602
348
112
254
107
333
577
380
107
288
94
336
656
342
115
341
97
358
3,010
1,003
1,062
3,181
1,069
1,112
2,609
875
924
2,847
1,004
974
3,087
1,021
1,088
2,913
969
1,020
3,237
1,115
1,117
1,096
1,135
3,227
1,066
1,153
3,377
1,112
1,200
5,644
54.3
88,259
66.1
81,606
63.8
940
904
879
842
'73,043
'70,263
5,815
5,364
4,345
4,954
393
384
'4,698
1
4,327
931
'12,668
'4,528
3,565
640
12,171
418
317
44
1,014
384
265
49
366
242
44
'7,027
4,326
1,255
4,096
1,136
3,772
6,559
4,299
1,257
2,836
1,080
3,802
524
387
98
236
93
382
512
337
98
211
88
320
'37,069
12,952
13,574
36,686
' 12,167
'13,250
2,918
906
1,075
2,713
840
949
17,548
6,407
2,663
12,725
1,059
2,129
' 15,251
'5,141
'2,559
'9,871
'674
' 1,323
3,986
1,489
646
2,689
163
436
3,599
1,099
641
2,166
136
298
1,302
546
3,065
160
488.
1,454
2
496
2
195
980
64
181
4,069
'26,098
4,075
'23,367
1,093
6,313
5,456
921
7,032
356
2,586
367
2,535
2,702
23.5
23.5
4.1
53.6
57.5
4.6
44.5
43.9
3,499
1,728
3,036
1,739
960.9
463.4
1,468.4
495.3
383.0
174.5
228.6
203.3
6,352
59.2
66
5,608
2721
2
2
1,479
2
502
2
202
929
68
165
2
1,587
2
571
2
235
926
65
172,
22.3
5.8
231
151
12.1
12.7
235
147
231
164
243
146
239
133
252
134
262
147
238
149
266
160
263
160
271
150
272
156
136.1
41.0
106.1
34.6
118.3
42.6
100.4
48.9
85.2
28.9
126.0
36.1
124.6
40.7
111.1
41.9
106.3
31.1
114.9
40.2
133.6
39.4
17.2
14.3
18.0
16.7
21.2
18.9
19.1
20.7
23.5
14.1
17.0
20.2
26.3
25.5
23.5
24.2
26.0
24.1
16.8
23.7
16.1
28.5
.5284
.5460
.6497
.6890
1,186
931
554
183
.5357
1,257
917
543
192
1,354
1,056
636
208
'1,294
1,015
606
198
'1,323
'1,021
'616
180
1,449
1,148
699
4,784
4,702
4,591
'4,515
4,480
103.9
83.5
94.6
107.6
85.8
100.7
78.6
106.7
86.9
104.6
87.1
2.8
12.1
36.7
67.4
'74.8
11.1
30.2
10.7
31.8
11.3
42.9
11.2
46.7
12.2
'36.4
13.0
37.3
67.2
55.6
40.8
31.2
41.7
34.4
50.7
38.7
63.7
55.8
72.0
60.2
80.2
69.3
46.2
.6
41.6
.9
43.9
26.5
40.5
1.9
46.3
2.4
40.8
2.8
185
209
171
198
152
221
'170
'210
'176
'199
206
'182
'191
'180
173
'174
182
166
.6807
.6713
.7098
.7435
14,456
11,092
6,442
2,228
14,382
11,418
6,629
2,276
1,114
908
530
152
1,131
915
526
162
1,116
932
526
178
1,219
972
547
198
1,042
840
484
178
1,062
872
520
165
5,165
4,928
5,083
5,057
4,977
4,927
4,902
4,928
1,105.8
1,039.1
1,149.7
1,071.3
100.5
94.5
92.8
90.0
97.4
102.0
890.4
55.2
93.5
363.2
906.6
40.6
124.5
492.7
84.8
3.4
10.6
39.1
71.7
3.8
10.8
37.4
73.5
3.9
11.4
43.9
80.0
3.1
11.4
43.5
72.9
5.2
11.9
36.0
483.2
390.7
667.5
503.1
51.8
36.0
43.4
36.0
92.9
37.3
40.4
31.7
463.0
48.1
497.1
14.9
55.1
1.8
25.3
1.7
1,899
311
2,032
221
155
262
175
232
.6697
.6605
94.9
86.2
128
274
33.0
1.1
7,324
77.3
7,494
79.1
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
September 1987
SURVEY OF CURRENT BUSINESS
S-26
Ann ual
,,U n l..t s
1984
1985
1987
1986
1986
July
Aug.
Oct.
Sept.
Nov.
Dec.
Ju.y
Jan.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND
PRODUCTS—Continued
Copper-base mill and foundry products,
shipments (quarterly total):
Brass mill products
mil. lb.
Copper wire mill products
(copper content)
do...
Brass and bronze foundry products
do ...
Lead:
Production:
Mine, recoverable lead
thous. met. tons.
Recovered from scrap (lead cont.)
do....
Imports (general), ore (lead content),
metal
do...
Consumption, total
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) (>
do...
Scrap (lead-base, purchased), all smelters
(gross weight)
thous. met. tons.
Price, common grade, delivered
$ per lb.
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)
do...
Stocks, pig (industrial), end of
period
do...
Price, Straits quality (delivered)
$ per lb.
Zinc:
Mine prod., recoverable zinc
thous. met. tons.
Imports (general):
Ores (zinc content)
do...
Metal (slab, blocks)
do...
Consumption (recoverable zinc content):
Ores
do...
Scrap, all types
do...
Slab zinc: @
Production, total t
thous. met. tons.
Consumption, fabricators
do...
Exports
do...
Stocks, end of period:
Producers', at smelter (ABMS)
do...
Consumers'
do...
Price, high grade
$ per lb.
2,318
1,880
3
541
1,792
478
414.0
594.2
337.8
590.8
25.0
41.0
23.3
50.2
24.0
46.2
24.2
51.3
20.7
50.8
24.1
47.5
23.9
50.0
23.6
49.9
23.5
54.4
27.0
55.6
56.5
'1,148.3
103.4
1,085.7
14.7
71.0
12.7
94.9
8.6
101.5
18.9
105.9
14.4
89.7
14.6
92.7
17.2
90.8
11.6
85.8
2.6
99.8
17.8
97.8
20.3
98.0
61.3
74.0
73.9
64.9
74.0
67.0
53.4
59.2
83.9
93.1
20.4
55.3
80.4
64.3
73.2
58.3
52.1
53.0
37.6
50.1
27.2
53.5
20.4
55.3
31.0
58.0
33.8
58.1
35.6
59.5
28.6
58.0
29.6
60.7
22.0
.1907
19.4
.2205
24.8
.2194
22.6
.2242
21.1
.2343
19.6
.2555
16.3
.2801
19.4
.2868
21.4
.2788
20.2
.2604
18.7
.2600
18.6
.2784
17.9
.3495
1,633
33,831
9,045
'1,176
51,600
38,900
2,875
4,030
35,768
7,243
94
4,111
368
677
2,508
564
378
2,371
601
'4,100
3,100
" 4,'ioo
293
1,833
419
144
4,000
3,000
199
957
4,268
585
141
3,900
2,900
261
2,194
607
148
3,900
2,900
112
2,935
810
164
4,100
3,000
102
727
3,347
817
137
3,900
2,900
120
195
3,034
982
153
4,200
3,200
387
5,448
859
150
4,700
3,400
154
3,427
'807
r
134
4,300
3,300
200
249
137
164
5,665
5.9595
4,802
«3.6991
4,681
3.8422
4,802
4.0277
5,232
4.1849
6,394
4.1715
6,321
4.1401
7,263
4.1830
8,087
4.2179
6,660
4.1449
17.7
17.5
17.8
91.4
568.7
28.3
64.8
28.:
58.'
40.0
50.7
37.2
53.4
52.7
251.0
5
7
50,100
37,400
r
445
125
453
112
714
"4,300
3,200
485
140
473
132
23.5
58.6
3,036
765
110
4,200
3,200
4,166
3.4652
3,000
213
4,246
3.4701
3,497
3.4583
3,554
3.5387
197.7
667.1
25.6
60.9
23.9
44.8
16.6
61.3
30.6
51.8
24.1
56.5
25.4
56.6
37.8
43.4
28.5
51.9
14.6
258.8
6
.6
20.7
.7
20.8
.6
21.8
.5
27.0
21.9
22.6
.5
22.7
22.4
23.3
51.4
22.2
54.8
22.7
58.6
.1
24.1
58.2
.5
21.8
52.5
.1
23.8
52.8
23.4
55.7
24.3
55.1
25.6
63.9
23.0
59.1
16.5
59.0
16.6
53.6
9.0
44.5
.3955
9.3
42.7
.4083
7.4
42.2
.4370
8.7
46.0
.4598
10.7
45.7
.4578
15.5
42.6
.4351
16.6
.4140
19.5
44.4
.3838
18.7
41.2
.3770
15.6
41.5
.3819
10.9
43.1
.4223
9.7
40.0
.4505
3,022
18.2
19.4
301.0
'711.8
.7
673.9
1.9
35.6
75.4
.4037
15.5
42.6
.3800
MACHINERY AND EQUIPMENT
Heating, combustion, atmosphere equipment, new
orders (domestic), net, qtrly #
mil. $.
148.2
'239.5
Electric processing heating equipment
do...
65.5
'100.0
'139.
Fuel-fired processing heating equip
do...
82.6
Material handling equipment (industrial):
4,272.4
Shipments *
do...
Industrial supplies, machinery and equipment:
New orders index, seas, adjusted
1977 = 100 .
118.6
119.9
Industrial suppliers distribution:
Sales index, seas, adjusted
1977 = 100 .
145.0
147.3
Inflation index, not seas. adj. (tools, material
handling equip., valves, fittings, abrasives,
fasteners, metal products, etc.)
1977 = 100.
Fluid power products shipments indexes:
Hydraulic products §
1985 = 100.
Pneumatic products §
do...
Machine tools:
Metal cutting type tools:
Orders, new (net), total
mil. $. 1,853.10 1,544.25
Domestic
do... 1,652.15 1,376.55
Shipments, total
do... 1,742.25 1,890.30
Domestic
do... 1,548.50 1,684.70
897.2
1,243.3
Order backlog, end of period
do...
Metal forming type tools:
Orders, new (net), total
do... ' 6 7 5 ^
581.05
506.80
Domestic
do... ' 6 1 0 »
688.20
Shipments, total
do... '802.91
621.35
Domestic
do... '742.91
414.2
307.1
Order backlog, end of period
do...
See footnotes at end of tables.
559
2,363
44.:
13.6
44.1
16.1
27.9
30.9
10.5
20.5
116.6
118.1
120.0
120.3
119.
121.2
119.2
124.3
126.9
123.2
128.0
126.3
124.6
146.1
148.0
145.5
154.5
144.1
128.1
139.0
138.7
143.6
151.1
143.0
140.5
149.6
166.3
166.5
103
97
112
107
115
102
109
100
117
r
104
165.1
98
95
128.80
99.25
149.10
135.90
1,164.8
115.10
108.60
108.25
92.50
1,171.7
100.1,
89.95
161.35
140.80
1,110.5
130.85
114.95
183.50
170.40
1,057.8
83.95
75.85
116.80
104.40
1,025.0
87.25
74.05
215.00
189.10
897.2
98.9.1
95.65
111.25
104.10
885.0
103.70
98.35
99.25
88.80
124.45
108.55
138.65
118.20
874.2
79.55
65.1,
115.85
102.10
837.9
144.80
139.60
161.65
146.00
821.0
41.20
36.05
40.95
36.60
340.7
39.30
30.40
43.10
39.05
336.9
35.10
23.65
46.60
40.30
325,
49.30
44.45
59.30
52.40
315.4
48.65
42.30
50.00
44.70
314.C
49.30
37.05
56.25
43.20
307.1
47.70
32.90
36.45
31.25
318,
49.15
43.10
47.35
42.65
320.2
40.7
28.70
43.85
35.85
317.0
50.7
45.00
56.50
48.05
311.3
43.30
36.50
46.95
43.80
307.6
r
114.95
r
98.85
165.10
148.20
770.9
r
r
87.80
78.45
68.05
54.65
r
327.4
"102.15
"84.65
"136.30
"127.90
"736.8
"60.7C
"46.10
"61.50
"54.35
"326.6
14.9
September 1987
SURVEY OF CURRENT BUSINESS
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
Annual
,,
..
Units
1985
BUSINESS STATISTICS: 1984
S-27
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
Dec.
Jan.
Mar.
Feb.
Apr.
May
June
Aug.
July
METALS AND MANUFACTURES—Continued
MACHINERY AND
EQUIPMENT-Continued
Tractors used in construction, shipments, qtrly:
Tracklaying (ex shovel loaders)
mil $
Wheel (contractors' off-highway)
mil $
Shovel loaders t
mil $
ELECTRICAL EQUIPMENT
Batteries (auto.-type replacement),
shipments
Radio sets, production, total market
Television sets (incl. combination models),
production, total market
Household major appliances (electrical),
shipments (domestic and export) #
Air conditioners (room)
Dishwashers
Disposers (food waste)
Microwave ovens/ranges @
Ranges.
Refrigerators
Freezers
Washers
Dryers (incl. gas)
Vacuum cleaners (qtrly)
7 321
628 7
7 080
486 6
70 653
2 364 6
8 080
8051
5 375
398 6
51 419
1 574 5
.thous.
thous
58,684
22 851
60,306
25 364
...thous..
factory
...thous..
do....
do....
do....
do....
do
do....
do....
do....
do....
20,525
23,351
5,015
2,507
1,776
2,094
1,484
1,836
4,139
542
338
352
1,071
281
531
97
461
338
3,947
655
294
347
807
256
589
106
452
323
4,747
656
369
356
1,021
289
821
136
602
426
4,012
350
322
343
913
286
732
137
484
363
3,934
196
335
357
978
29C
700
138
520
38]
6,461
' 2 774
6,936
3 165
6,170
2 822
5 969
'2 404
3,798
1 549
3,709
1893
3,912
1876
3,876
1680
4,272
2132
1,927
'2,337
2,209
2,161
'2,353
1,820
1,721
2,194
1,552
3,734
89
339
363
1,046
271
605
122
500
356
4,006
89
346
414
1,183
294
597
110
554
408
4,085
53
386
404
1,137
319
611
94
600
460
3,425
56
330
347
1,129
278
449
72
410
350
3,609
92
338
338
1,188
283
434
72
485
357
4,082
155
337
449
1,332
282
474
84
506
435
3,477
243
324
367
892
248
461
82
447
366
4,053
582
350
364
838
279
517
105
510
390
1,583
3,981
361
323
296
892
283
730
159
521
358
5,328
2,435
5 668
2 832
4,662
1 813
r
1 739
161.2
1252
87 5
12 462
377 4
1 389
153 0
1 002
79 2
12 405
368 6
1 558
141 3
1 144
851
11 308
326 0
r
r
41,797
3,022
3,575
4,105
10,883
3 142
6,080
1,236
5,278
3,914
45,072
2,816
3,918
4,269
12,444
3 318
6,510
1,222
5,765
4,245
1 822
1 814
2 105
1 940
147
127
199
156
218
189
252
182
202
173
182
187
168
180
153
160
149
184
138
157
118
154
140
183
157
158
3,529
3,729
292
273
290
346
294
322
346
340
352
353
290
330
297
363
45
636 6
357
96
636 2
385
154
636 4
271
121
639.1
639.1
71,607
70,687
77,864
70,428
79,728
51,387
56,414
63,414
157,642
158,585
156,177
6,183
515 4
6,456
515.9
7,174
514.7
6,489
512.6
511.1
Hn
GAS EQUIPMENT (RESIDENTIAL)
Furnaces warm air shipments
thous
Ranges total shipments
do
Water heaters (storage), automatic,
shipments
do....
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:
Production t
thous sh tons
Exports
do
Producer Price Index
1967 -100
Bituminous:
Production |
thous. sh. tons..
Consumption, total t
do
Electric power utilities
do
Industrial, total
do
Coke plants (oven and beehive)
do
Residential and commercial
do
Stocks, end of period, total t
do
Electric power utilities
do
Industrial, total
do
Oven-coke plants
do
Exports
do
Producer Price Index
1967 — 100
373
199
635 7
340
95
639 6
256
12
640 8
264
8
640 8
305
42
640 8
68,671
75,022
76,832
65,132
63,431
62,964
56,489
54,074
54,059
8,134
8,780
8,359
2,532
2,541
2,519
577
509
545
157,690 163,094 166,996
144,799 150,044 153,788
12,891
13,208
13,050
2,860
2,943
2,902
6,475
7,915
7,066
530 9
533 6
533 1
70,264
69,496
59,020
9,738
2,637
738
168,073
154,707
13,367
2,985
6,436
530 4
74,278
72,390
62,350
9,444
2,634
596
162,698
149,970
12,727
2,879
4,709
530 8
71,253
62,844
53,640
8,682
2,496
521
163,326
151,236
12,089
2,773
4,634
526 6
75,374
63,567
54,568
8,627
2,670
372
166,003
154,550
11,453
2,668
6,417
525 0
2,925
5,618
3,206
3,208
2,919
5,926
3,044
2,991 '
3,078
3,107
1231
72
1 143
151
2 066
1,778
288
1 206
76
1 373
67
1 4i4
31
1 853
1,557
295
1437
75
1551
56
1,485
30
1,309
50
98
437.7
333
274
635 5
4,708
1,286
616 3
3,760
1,460
638 5
298
195
635 8
330
162
635 5
878,930
815,132
692,808
115,853
41,026
6,470
162,976
149,188
13,789
3,409
91,361
543 5
884,395
801,811
684,227
111,151
35,973
6,433
168,073
154,707
13,367
2,985
84,017
534 7
67,818
76,621
67,954
8,261
2,589
406
155,648
142,645
13,003
3,306
7,579
535 2
76,549
70,430
61,645
8,402
2,576
383
154,993
142,046
12,947
3,083
7,553
534 4
thous. sh. tons..
do....
28,651
33,204
25,540
36,903
3,059
3,230
5,513
3,171
do
do....
do
do
do....
2 553
2,148
404
1 232
1,179
2 066
1,778
288
1 206
1,063
1 256
81
1 304
240
2 141
1,747
394
1 296
26
431
138
635 5
r
r
281
COKE
Production:
Beehive and oven (byproduct)
Petroleum coke §
Stocks, end of period:
Oven-coke plants total
At furnace plants
At merchant plants
Petroleum coke @@
Exports
PETROLEUM AND PRODUCTS
Crude petroleum:
Producer Price Index
1967 = 100 ..
Gross input to crude oil distillation
units @@
mil bbl
Refinery operating ratio @@
% of capacity..
All oils, supply, demand, and stocks: @ @
New supply, total ()
mil bbl
Production:
Crude petroleum
do
Natural gas plant liquids
do
Imports:
Crude and unfinished oils
do....
Change in stocks, all oils
Product demand total
Exports:
Crude petroleum
Refined products
See footnotes at end of tables.
3,066
619.4
344.0
272.6
263.8
311.8
308.8
307.4
308.3
369.6
384.2
383.4
390.3
401.1
412.7
4,440.2
78
4,681.4
83
403.3
84
415.2
87
395.7
86
395.3
83
387.8
84
400.3
84
392.8
81
346.6
79
378.1
78
377.9
80
397.3
82
397.0
84
5,730 9
6,026 1
5321
528.3
508.2
507.8
499.4
517.2
506.2
444.0
484.9
477.2
491.9
497.7
3,274.6
607 5
3,168.3
587 1
268.4
48 5
259.6
46 6
249.8
45 7
261.0
47 6
252.4
49 4
258.9
50 6
262.8
517
232.9
47 4
258.8
52 0
252.8
49.5
257.5
51.1
247.9
49.2
do....
do
1,308.6
540 3
-37.5
6,024.6
1,642.7
628 0
73.7
6,227.9
155.3
59 8
29.8
526.7
159.9
62 3
9.6
542.0
161.0
51 6
35.7
498.6
146.6
52 6
-7.5
540.4
148.3
49 3
1.6
511.1
146.1
61 5
-19.5
556.4
143.8
47 9
-5.8
533.5
117.3
46 4
-22.8
495.9
127.6
46 5
-3.6
517.3
131.2
43 6
-17.1
520.9
141.3
42 1
13
515.7
157.3
43 3
6.5
524.4
do....
do....
74.5
209.9
56.2
229.3
2.0
19.1
7.2
19.6
4.8
16.5
4.7
21.1
3.4
21.0
4.9
20.4
3.0
22.6
8.4
19.3
5.1
17.3
7.4
18.4
2.1
18.2
3.5
16.5
448.1
S-28
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
September 1987
SURVEY OF CURRENT BUSINESS
,,
..
Lnlts
BUSINESS STATISTICS: 1984
1985
1987
1986
Annual
1986
July
Aug.
Nov.
Oct.
Sept.
Jan.
Dec.
Feb.
June
July
Mar.
Apr.
May
495.0
220.5
1.3
90.1
37.7
39.8
5.5
11.6
44.6
1,544.3
853.0
522.0
495.3
232.5
1.4
82.8
31.8
39.0
4.8
16.6
40.2
1,545.5
850.5
525.1
1,552.0
857.0
527.2
Aug.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS t_Continued
All oils, supply, demand, and stocks—Continued
Domestic product demand, total #
mil. bbl.
Gasoline
do...
Kerosene
do...
Distillate fuel oil
do...
Residual fuel oil
do...
Jet fuel
do...
Lubricants
do...
Asphalt
do...
Liquefied petroleum gases
do...
Stocks, end of period, total
do...
Crude petroleum
do...
Strategic petroleum reserve
do...
Unfinished oils, natural gasoline, etc
do...
Refined products
do...
Refined petroleum products:
Gasoline (incl. aviation):
Production
do...
Stocks, end of period
do...
Prices, regular grade (excl. aviation):
Producer Price Index $
2/73=100 .
Retail, U.S. city average (BLS):
Leaded
$ per gal.
Unleaded
do...
Aviation gasoline:
Production
mil. bbl.
Stocks, end of period
do...
Kerosene:
Production
do...
Stocks, end of period
do...
Producer Price Index (light
distillate) t
1967 = 100
Distillate fuel oil:
mil. bbl
Production
do.,
Imports
do..
Stocks, end of period
Producer Price Index (middle
distillate) t
1967 = 100
Residual fuel oil:
Production
mil. bbl
Imports
do..
Stocks, end of period
do..
Producer Price Index t
1967 = 100
Jet fuel:
Production
mil. bbl
Stocks, end of period
do..
Lubricants:
Production
do..
Stocks, end of period
do..
Asphalt:
Production
do..
Stocks, end of period
do..
Liquefied petroleum gases:
Production, total
do..
At gas processing plants
(L.P.G.)
do..
At refineries (L.R.G.)
do..
Stocks (at plants and refineries)
do..
504.4
226.9
1.8
83.8
36.2
39.8
5,740.1
2,503.3
41.6
1,046.8
438.8
444.7
53.1
155.1
583.6
1,518.8
814.2
493.3
5,942.4
2,579.1
35.9
1,063.7
517.7
477.2
51.9
163.6
552.1
1,592.5
842.8
511.6
505.5
231.6
1.9
80.4
46.8
41.1
4.4
21.2
39.9
1,572.7
845.2
503.4
515.2
231.7
3.1
81.2
46.0
41.9
4.4
21.6
39.1
1,582.3
837.7
505.0
477.3
207.8
1.7
76.2
38.9
39.6
4.8
21.0
43.7
1,618.0
844.2
506.4
514.7
225.6
3.1
90.3
39.0
39.4
4.8
18.6
54.2
1,610.4
851.4
507.5
486.6
207.1
3.5
86.3
41.7
41.4
3.9
9.7
54.5
1,612.0
848.6
509.5
531.1
222.1
4.9
103.2
50.8
44.8
3.3
6.9
58.1
1,592.5
842.8
511.6
507.8
201.2
5.1
101.0
45.3
40.9
5.3
5.7
61.6
1,587.7
848.7
514.9
1,564.9
848.7
516.7
494.9
215.5
3.2
93.1
37.8
41.0
5.4
7.7
48.2
1,561.4
853.3
520.0
148.0
556.6
140.4
609.4
149.5
578.0
141.0
603.6
141.9
631.9
148.5
610.5
145.5
617.5
140.4
609.4
142.8
596.3
154.2
562.0
158.5
549.5
154.6
536.6
150.8
544.2
149.8
545.2
2,352.3
192.4
2,476.3
196.4
216.8
192.0
221.2
189.7
208.7
198.5
206.0
187.0
207.5
193.0
216.5
196.4
208.2
211.7
179.0
209.6
204.0
208.1
206.5
203.4
217.5
197.7
213.7
194.7
284.5
283.9
289.1
340.4
341.0
359.1
364.5
.797
.860
.771
.831
.762
.821
.764
11.7
2.2
2.0
2.5
.9
2.5
.7
2.5
32.6
8.4
2.7
8.3
2.8
8.3
3.2
426.8
423.9
'1.115
2
1.202
34.5
7.5
.857
.927
.822
.890
.778
.843
4.7
4.8
50.8
r
.879
.934
.7
2.5
2.3
.7
2.0
2.2
7.6
1.9
6.5
1.4
6.9
1.1
6.6
488.1
486.4
r
5.4
20.0
42.2
.906
.958
.856
.912
.806
.862
8.5
502.2
512.1
87.5
7.6
91.:
10.5
155.1
86.0
6.1
141.4
72.1
6.4
123.5
73.9
7.8
110.0
76.6
5.5
100.4
79.5
6.2
101.8
80.7
7.4
104.3
436.0
158.3
461.8
520.3
537.i
503.:
526.1
539.8
558.1
25.6
19.7
45.8
453.4
440.7
30.6
28.3
47.4
462.1
28.
20.7
45.0
530.8
23.3
17.1
38.1
627.6
26.9
17.1
39.6
594.1
24.9
16.2
35.9
r
617.1
25.2
15.4
40.3
639 9
25.9
14.3
41.3
650.8
43.8
49.'
42.3
50.2
37.0
47.9
48.1
37.5
47.0
38.8
47.4
37.6
46.0
5.0
13.
4.8
14.2
5.1
14.3
4.4
13.'
5.0
13.0
5.3
12.5
5.0
12.:
5.3
11.7
14.:
15.2
10.4
16.6
7.0
17.7
6.6
19.3
6..
21.7
9.0
23.8
12.0
25.1
14.7
24.3
17.1
22.7
50.0
54.8
37.5
12.9
123.0
39.2
12.6
115.4
40.8
12.7
102.7
41.1
13.6
87.4
38.1
11.9
81.6
41.0
13.8
39.6
13.9
86.4
40.1
13.7
95.3
38.4
13.8
100,
419.4
1,021.2
90.3
155.1
84.0
9.7
118.9
90.6
11.5
137.7
86.0
7.8
152.4
84.2
7.5
151.6
821.5
499.8
369.0
406.5
469.0
322.0
186.3
50.4
983.1
324.3
244.2
47.4
525.8
26.3
20.9
40.4
434.0
27.8
24.6
41.3
361.0
25.6
19.2
44.0
419.1
433.9
40.5
472.0
49.7
39.9
48.6
39.3
48.5
38.7
48.9
40.7
50.6
29.2
17.2
46.3
450.8
39.8
50.1
53.1
11.8
58.2
14.2
4.5
13.3
5.0
13.3
4.9
13.0
4.8
12.5
146.3
21.2
149.7
17.7
18.0
24.9
18.3
22.6
16.0
18.9
622.0
618.5
52.2
479.3
142.6
73.5
466.:
152.3
102.7
38.0
14.2
116.2
13.9
126.5
35.8
13.1
130.7
73.1
143.7
468.2
189.1
4.2
93.7
41.2
40.4
429.1
PULPWOOD
Receipts
thous. cords (128 cu.ft.).
Consumption
do...
Inventories, end of period
do...
'85,499
'85,744
5,046
'90,943
'91,434
4,794
7,770
7,812
4,836
7,465
7,582
4,835
7,493
7,362
4,970
8,247
7,779
5,501
7,224
7,681
4,909
7,639
7,795
4,794
8,074
8,049
4,712
7,694
7,541
4,900
7,912
7,869
4,891
7,873
7,855
4,950
7,382
7,582
4,557
7,743
7,723
4,651
WASTE PAPER
Consumption
thous. sh. tons.
Inventories, end of period
do...
'15,623
969
' 16,670
1,320
1,390
851
1,380
877
1,419
948
1,408
878
1,349
1,432
781
1,380
769
1,485
755
1,437
775
1,500
752
1,474
773
'54,147
1,174
43,696
'57,268
1,258
46,333
4,742
103
3,797
4,903
113
3,961
4,662
104
3,763
4,871
98
3,942
4,757
95
3,854
4,926
122
3,997
5,077
108
4,108
4,616
98
3,750
5,026
114
4,077
108
3,966
4,916
99
'3,997
4,977
113
4,045
5,251
4,027
5,545
4,133
474
368
469
359
457
338
481
350
464
345
470
338
497
364
443
324
474
361
457
350
475
346
165
485
174
284
176
353
195
352
176
292
183
352
200
338
197
292
186
300
183
'286
177
275
r
503
'3,794
631
'3,161
'4,466
117
'4,349
569
'4,308
711
'3,599
'4,340
148
'4,193
542
418
63
355
422
18
404
527
299
46
254
401
5
396
530
285
53
232
441
5
561
372
65
307
392
12
379
573
471
83
553
447
12
459
580
571
59
512
377
11
366
570
377
52
325
593
455
1
454
390
10
379
See footnotes at end of tables.
176
292
558
457
83
374
379
18
361
344
61
283
372
12
359
553
312
53
259
467
7
460
295
11
284
r
1
387
401.3
.921
.971
.946
.995
577.0
PULP, PAPER, AND PAPER PRODUCTS
WOODPULP
Production:
Total
thous. sh. tons
Dissolving pulp
do...
Paper grades chemical pulp
do..
Groundwood and thermomechanical
do..
Semi-chemical
do..
Inventories, end of period:
At pulp mills:
Own use woodpulp
do..
Market pulp
do..
Market pulp at paper and board
mills
do..
Exports, all grades, total
do.
Dissolving and special alpha
do.
All other
do.
Imports, all grades, total
do.
Dissolving and special alpha
do.
All other
do.
386.4
571.0
601.3
721.6
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
,, .
units
BUSINESS STATISTICS: 1984
Annual
1985
S-29
1987
1986
1986
July
Aug.
Sept.
Nov.
Oct.
Jan.
Dec.
Mar.
Feb.
Apr.
May
June
July
Aug.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS
Paper and board:
Production (API):
Total
thous. sh. tons.
Paper
do...
Paperboard
do...
Producer Price Indexes:
Paperboard
1967 = 100.
Building paper and board
do...
Selected types of paper (API):
Groundwood paper, uncoated:
Orders, new
thous. sh. tons.
Orders, unfilled, end of period
do...
Shipments
do...
Coated paper:
Orders, new
do...
Orders, unfilled, end of period
do...
Shipments
do..,
Uncoated free sheet papers:
Orders, new
do..
Shipments
do..,
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...
Inventory, end of period
do...
United States:
Production
do...
Shipments from mills
do...
Inventory, end of period
do...
Estimated consumption, all
users 0
do...
Publishers' stocks, end of period #
thous. metric tons.
Imports
thous. sh. tons.
Producer Price Index,
standard newsprint
1967 = 100.
Paper products:
Shipping containers, corrugated and solid
fiber shipments
mil. sq. ft. surf, area
'67,030
33,996
33,034
'70,861
35,443
35,419
5,774
2,881
2,893
6,114
3,029
3,085
5,872
2,974
2,898
6,180
3,123
3,057
5,878
2,927
2,950
5,929
2,970
2,959
6,226
3,083
3,144
5,769
2,874
2,895
6,285
3,090
3,194
r
6,071
r
6,132
3,021
3,111
r
6,127
'3,035
'3,092
6,165
3,025
3,140
274.6
257.2
271.6
260.7
272.2
262.2
274.9
262.2
274.9
262.7
276.2
265.0
278.1
262.7
280.8
262.0
290.4
262.4
294.4
261.7
294.5
261.5
r
296.2
r
296.2
262.6
295.1
262.9
296.3
266.5
'1,477
106
'1,521
'1,553
124
' 1,540
152
141
128
138
149
126
122
141
132
130
132
137
132
129
134
122
131
124
138
125
135
110
108
127
154
127
138
109
116
120
121
113
123
127
123
121
131
129
123
'5,642
393
5,875
'6,334
469
6,263
529
475
484
562
467
556
549
478
555
555
458
570
507
434
535
515
399
540
553
462
568
524
454
529
527
429
548
561
'443
548
630
521
554
'651
r
604
569
600
646
563
'10,485
10,657
889
893
922
903
841
893
922
958
839
854
856
899
850
898
844
855
900
939
r
892
926
903
910
'911
921
921
931
' 3,403
'4,941
'3,303
' 5,095
277
395
277
430
274
415
272
454
263
424
271
421
280
439
260
414
274
446
265
429
233
441
r
247
'436
241
432
8,988
8,996
290
9,289
9,302
277
818
758
384
780
790
374
744
840
278
808
816
270
782
743
309
783
815
277
794
750
322
765
756
331
848
847
333
808
818
323
816
815
323
806
857
273
791
779
286
4,924
4,927
57
5,108
5,115
49
433
433
89
441
444
86
420
437
69
426
436
58
429
426
61
428
440
49
445
427
67
400
402
65
431
442
54
420
428
45
454
452
47
444
451
40
455
452
43
11,587
11,936
931
997
999
1,088
1,078
1,010
908
906
1,037
1,031
1,073
994
984
910
8,472
849
8,589
892
823
893
760
904
668
888
726
803
791
849
594
845
781
879
696
874
759
869
740
848
761
'885
776
923
332.5
326.1
323.5
322.2
322.3
333.6
333.8
333.6
340.5
342.8
342.2
342.7
343.1
343.1
355.8
367.1
267,453
283,621
23,949
23,821
24,390
27,132
21,406
22,030
24,708
22,704
24,755
25,591
23,637
25,620
25,341
24,977
62.30
80.20
62.61
79.49
56.30
79.00
'9,704
' 9,952
1
r
3,010
3,061
261.2
r
r
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:
Consumption
thous. metric tons.
Stocks, end of period
do...
Imports, incl. latex and guayule
thous. long tons.
U.S. Import Price Index *
12/83 = 100 .
Synthetic rubber:
Production
thous. metric tons .
Consumption
do...
Stocks, end of period
do...
Exports (Bu. of Census)
thous. lg. tons.
TIRES AND TUBES
Pneumatic casings:
Production
thous.
Shipments, total
do...
Original equipment
do...
Replacement equipment
do...
Exports
do...
Stocks, end of period
do...
Exports (Bu. of Census)
do...
Inner tubes:
Exports (Bu. of Census)
do...
See footnotes at end of tables.
69.90
93.83
49.93
86.39
57.04
91.57
80.33
75.26
50.77
78.23
51.19
38.51
49.94
76.67
85.38
78.78
81.30
70.24
752.99
68.96
44.47
62.91
76.7
72.34
53.13
55.83
79.2
55.01
89.85
80.67
80.2
1,837.86 1,985.49
1,801.76 1,872.50
213.87
306.94
155.27
151.45
239.88
26.34
170.47
168.54
233.40
31.77
178.59
160.60
236.47
34.24
186.67
177.51
231.14
30.39
145.59
145.77
224.58
27.78
174.69
155.71
235.61
27.04
187.12
162.80
247.01
31.91
177.46
166.12
249.44
32.69
193.56
182.78
242.62
35.49
174.07
160.53
240.34
36.48
179.80
163.09
242.21
38.79
174.97
158.00
241.58
36.34
' 196,923 '190,289
242,050 225,168
62,537
57,121
173,553 174,205
5,960
5,334
34,286
5,627
5,202
14,203
18,829
3,978
14,457
394
38,036
350
16,112
21,244
4,532
16,252
460
36,836
484
16,540
22,025
5,359
16,142
524
34,890
442
18,180
23,418
5,695
17,205
518
34,130
620
15,144
19,842
4,656
14,743
443
33,681
477
15,183
18,078
4,268
13,356
454
34,286
451
16,879
16,593
18,501
5,493
12,351
657
38,341
144
17,733
20,786
6,019
14,182
585
40,673
895
16,680
21,030
5,408
15,032
590
39,962
746
16,982
20,981
5,400
14,949
632
40,312
762
16,548
23,829
5,145
17,983
701
37,872
844
61
109
250
149
1,123
64
5,481
12,917
490
36,323
111
190
58.01
86.1
300.7
268.8
September 1987
SURVEY OF CURRENT BUSINESS
S-30
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
BUSINESS STATISTICS:
,,U n I..t s
Annual
1985
1984
1987
1986
1986
Aug.
July
Sept.
Nov.
Oct.
Jan.
Dec.
Feb.
July
June
Mar.
Apr.
May
34,096
41,495
43,197
590.9
4.7
24.9
4.5
25.0
651.8
11.5
33.1
Aug.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement
..thous. bbl..
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...
Floor and wall tile and accessories, glazed
and unglazed
mi. sq. ft.
Producer Price Index, brick and structural
clay tile *
12/84 = 100.
470,500
46,872
72.8
436.7
7,401.9
108.4
323.6
721.4
10.3
393.5
505.0
44.0
101.4
105.2
105.1
6,833.7
25,532
46,585
45,926
49,053
35,085
30,723
11.1
31.8
14.3
32.4
12.8
33.8
9.7
25.3
9.2
18.5
19.3
6.4
17.5
42.6
44.9
49.7
40.8
46.6
36.9
36.1
41.5
40.6
35.7
105.8
105.8
105.1
105.0
107.4
107.6
108.1
108.6
47,835
r
700.1
16.9
31.4
r
16.5
31.6
39.4
35.9
108.9
108.8
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments
thous. $. 1,174,3801,259,746
Glass containers: t
Production
thous. gross. 273,695 289,253
Shipments, total
do... 272,821 283,057
Narrow-neck containers:
do...
Food
25,266
23,770
do...
Beverage
59,885
60,085
Beer
86,922
83,777
do...
27,856
25,975
do...
Liquor and wine
Wide-mouth containers:
Food and dairy products..
62,795
59,935
do...
Narrow-neck and wide-mouth containers:
Medicinal and toilet
do...
18,843
17,322
Chemical, household, and industrial
do...
1,490
1,957
Stocks, end of period
do...
39,912
38,843
GYPSUM AND PRODUCTS
Production:
Crude gypsum (exc. byproduct) thous. sh. tons.
Calcined
do...
Imports, crude gypsum
do...
Sales of gypsum products:
Uncalcined
do...
Calcined:
Industrial plasters
do...
Building plasters, total
(incl. Keene's cement)
do...
Board products, total
mil. sq. ft.
Lath
do...
Veneer base
do...
Gypsum sheathing
do..
Regular gypsum board
do..
Type X gypsum board
do..
Predecorated wallboard
do..
5
/ie mobile home board
do..
Water/moisture resistant board **
do...
14,784
17,135
9,922
4,386
544
19,431
28
432
328
11,631
5,507
128
853
523
16,227
17,538
9,559
r
26,007
'26,867
25,114
26,110
25,498
26,210
23,453
23,459
25,442
24,108
22,309
20,618
17,697
20,137
23,155
21,962
22,916
21,794
25,701
24,810
24,963
25,414
25,528
24,899
2,188
5,899
8,333
2,870
2,592
5,293
7,235
2,578
2,332
4,687
6,965
2,016
1,898
4,796
7,169
2,251
1,750
3,988
6,207
2,033
1,628
4,080
6,340
2,039
2,298
4,048
6,903
1,965
2,220
4,174
6,477
2,133
2,871
5,353
7,353
2,409
2,711
5,913
7,372
2,800
2,783
6,196
7,507
2,429
r
5,221
5,668
5,726
6,077
5,171
4,810
5,179
5,115
5,204
5,146
5,039
r
1,586
1,454
1,628
1,800
1,343
1,140
1,453
1,470
1,465
1,343
1,258
1,038
1,220
113
40,661
79
41,476
105
40,601
117
41,920
126
42,485
100
39,912
116
40,889
205
42,042
155
42,905
129
42,417
96
42,580
84
r
41,820
86
40,608
1,284
1,431
993
1,332
1,531
1,375
1,625
832
1,463
1,489
707
1,311
1,361
1,241
1,441
1,717
1,375
1,099
1,301
1,156
1,376
1,261
1,508
1,240
1,421
936
781
630
688
987
299
201
155
163
336
1,624
2
35
24
988
458
9
57
50
20
1,612
2
37
22
996
448
8
47
51
23
1,786
2
43
26
1,103
489
10
59
53
576
546
562
13,416
13,416
2,540
10,252
624
12,409
12,409
1,827
9,942
640
11,153
11,153
1,392
9,033
728
3,359
1,009
338
2,980
6,471
7,740
r
3,155
2,846
5,950
8,161
2,479
5,399
14
259
20,411
24
475
323
12,343
5,781
123
751
591
358,044
331,669
330,868
330,318
1,715
2
40
30
1,024
494
11
64
50
1,757
2
41
26
1,060
499
10
68
51
24
1,795
2
1,098
500
10
64
52
25
1,952
45
26
1,198
538
11
76
5'
1,618
3
36
25
1,006
441
9
52
48
18
1,592
24
1,872
2
45
26
1,14'
507
10
79
5'
19
1,602
2
41
25
977
435
8
64
50
734
573
586
9,553
9,553
931
7,894
728
8,559
8,559
1,016
6,832
711
7,836
7,836
1,256
5,870
710
TEXTILE PRODUCTS
FABRIC
Woven fabric, finishing plants:
Production (finished fabric)
mil. linear yd..
Cotton
do
Manmade fiber and silk fabrics
do....
Inventories held at end of period
do....
Cotton
do....
Manmade fiber and silk fabrics
do
Backlog of finishing orders
do
Cotton
do....
Manmade fiber and silk fabrics
do....
COTTON AND MANUFACTURES
Cotton (excluding linters):
Production:
Ginnings 0
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.
6,788
2,499
4,287
535
193
342
6,796
2,522
4,271
504
211
293
12,988
13,432
1
5,268
9,438
9,731
6,566
13,683
13,682
2,374
10,696
612
13,416
13,416
2,540
10,252
624
3
538
3
186
3
351
535
188
347
514
177
337
531
192
339
559
205
354
516
182
334
532
196
336
554
208
347
529
190
339
3
707
3
270
3
437
550
209
342
538
190
348
551
202
349
527
207
320
492
176
316
145
624
2,408
5,291
7,495
522
534
523
9,045
9,044
150
8,124
770
18,113
18,112
1,049
7,393
670
16,704
16,703
8,119
7,996
588
3
3
683
529
15,366
15,366
5,286
9,519
561
14,639
14,639
3,913
10,148
578
3
472
3
184
3
288
504
211
293
442
164
278
8,590
3
3
708
12,907
C
518
6,577
6,577
1,097
4,807
673
4,787
4,787
c
300
3,809
678
3
429
12,846
September 1987
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
SURVEY OF CURRENT BUSINESS
....
umis
BUSINESS STATISTICS: 1984
Annual
1985
S-31
1987
1986
1986
July
Aug.
Sept.
Oct.
Nov.
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 <Q
cents per lb.
Price, Strict Low Middling, Grade 41, staple 34
(IVie"), average 10 markets
cents per lb.
Spindle activity (cotton system spindles):
Active spindles, last working
day, total
mil.
Consuming 100 percent cotton
do...
Spindle hours operated, all
fibers, total
bil.
Average per working day
do...
Consuming 100 percent cotton
do...
Cotton cloth:
Cotton broadwoven goods over 12" in width:
Production (qtrly.)
mil. sq. yd.
Orders, unfilled, end of period, compared
with average 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 equivalent
thous. net-weight bales §.
Imports, raw cotton equivalent
do...
Producer Price Index, gray cotton
broadwovens
12/75=100 .
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly:
Acetate filament yarn
mil. lb.
Rayon staple, including tow
do...
Noncellulosic, except textile glass:
Yarn and monofilaments
do...
Staple, incl. tow
do....
Textile glass
fiber
do....
Fiber stocks, producers', end of period:
Acetate filament yarn
mil. lb..
Rayon staple, including tow
do...,
Noncellulosic fiber, except textile glass:
Yarn and monofilaments
...do..
Staple, incl. tow
...do..
Textile glass
fiber
do
Manmade fiber and silk broadwoven fabrics:
Production(qtrly.), total #
mil. sq. yd..
Filament yarn (100%) fabrics #
do....
Chiefly rayon and/or acetate
fabrics
do....
Chiefly nylon fabrics
do...
Spun yarn (100%) fabrics #
do....
Rayon and/or acetate fabrics, blends
do....
Polyester blends with cotton
do....
Acetate filament and spun
yarn fabrics
do....
Producer Price Index, gray synthetic
broadwovens
12/75=100 ..
Manmade fiber textile trade:
Exports, manmade fiber equivalent
mil. lbs..
Yarn, tops, thread, cloth
do....
Cloth, woven
do....
Manufactured prods., apparel,
furnishings
do....
Imports, manmade fiber equivalent
do....
Yarn, tops, thread, cloth
do....
Cloth, woven
do....
Manufactured products, apparel,
furnishings
do....
Apparel, total
do....
Knit apparel
do....
WOOL AND MANUFACTURES
Wool consumption, mill (clean basis):
Apparel class
mil. lb.
Carpet class
do...
Wool imports, clean yield
do...
Duty-free
do...
Wool prices, raw, shorn, clean basis, delivered
to U.S. mills:
Domestic—Graded territory, 64's, staple 2%"
and up
dollars per lb.
Australian, 64's, Type 62, duty-paid
do...
Wool broadwoven goods, exc. felts:
Production (qtrly.)
mil. sq. yd.
FLOOR COVERINGS
Carpet, rugs, carpeting (woven, tufted, other),
shipments, quarterly
mil. sq. yds.
APPAREL
Women's, misses', juniors' apparel cuttings:
Coats
thous. units.
Dresses
do...
Suits (incl. pant suits, jumpsuits)
do...
Skirts
do...
Slacks, jeans, dungarees, and
jean-cut casual slacks *
do...
Blouses
thous. dozen.
See footnotes at end of tables.
4,756
46
54.7
5,666
7
51.0
21
0)
61.5
261
0)
46.2
346
0)
47.9
314
47.1
529
0)
56.8
44.0
54.5
429
1
5.1
4.7
5.0
54.2
57.2
54.8
54.6
3,149
529
595
512
(*)
5.2
57.7
75.9
65.9
12.5
4.7
11.8
4.6
11.9
4.5
11.8
4.5
11.9
4.6
11.9
4.5
11.8
4.6
11.8
4.6
11.9
4.7
11.9
4.7
11.9
4.8
11.8
4.8
11.9
4.8
75.5
.290
27.4
81.5
.309
29.2
'6.7
.269
' 2.4
6.3
.314
2.3
6.4
.320
2.3
'8.1
.325
'3.1
6.4
.319
2.4
'7.0
.279
'2.6
6.4
.321
2.4
6.8
.342
2.5
.343
'3.2
.331
C
2.5
6.5
.323
C
2.6
3,921
4,364
21.7
119.6
20.3
119.3
11.8
4.6
c
'7.9
.316
'3.0
1,151
963
936
422
0)
"7.2
9.6
4.5
.47
28.2
96.3
220.5
1,024.9
293.6
1,322.2
17.3
127.1
30.1
109.6
26.2
100.2
155.6
154.3
154.5
154.1
154.6
204.6
352.7
214.8
403.7
54.1
103.4
51.7
105.5
3,790.2
3,773.3
3,836.7
3,991.8
943.3
1,000.9
1,004.7
1,038.7
12.3
22.5
14.8
22.4
14.0
21.5
292.5
311.8
306.6
326.4
297.4
308.5
154.3
30.0
107.9
20.2
119.9
154.4
27.5
142.1
25.4
136.4
155.4
155.5
r
22.1
140.4
156.3
46.2
101.3
46.7
100.5
957.6
l,069.6
1,014.7
1,108.6
14.8
22.4
16.8
23.8
14.0
25.1
306.6
326.4
295.4
319.8
290.3
333.2
r
10,796.6
4,754.9
371.8
4,903.1
36.5
3,844.0
147.2
146.3
147.5
146.4
146.4
146.9
449.16
206.29
124.87
519.31
228.77
134.58
41.41
18.66
13.32
41.44
18.07
11.47
43.16
18.16
12.04
43.84
19.44
11.42
48.12
21.71
13.14
52.42
18.88
10.70
38.01
16.67
8.12
45.03
19.61
12.17
51.46
22.00
13.58
54.20
24.22
15.24
52.70
24.09
12.76
52.23
23.45
14.73
1,491.03 1,702.95
306.15
268.06
207.18
186.20
179.65
32.96
22.14
162.82
26.63
17.72
135.95
20.15
13.42
135.27
19.51
13.27
134.26
22.49
13.88
118.27
21.53
13.85
136.77
20.86
13.98
149.87
21.86
14.08
29.46
137.73
21.88
14.53
29.98
148.14
24.43
15.75
28.61
161.99
26.92
17.68
28.78
178.33
27.10
16.81
1,222.97 1,396.81
799.90
929.36
341.17
431.18
146.70
106.13
56.12
136.19
99.80
52.41
115.80
79.88
40.77
115.76
77.70
39.82
111.78
67.94
27.75
96.74
58.64
20.36
115.91
81.67
30.04
128.01
86.55
34.18
115.84
75.47
31.18
123.71
80.85
37.82
135.07
91.75
47.37
151.23
104.58
53.96
'10.1
'.5
10.8
3.3
12.4
.7
8.6
1.5
'14.1
'1.3
9.5
2.7
11.3
1.2
8.7
2.2
13.6
.9
13.4
3.8
1.90
2.50
1.93
2.52
2.16
2.88
2.60
3.25
2.70
3.27
243.86
106.1
10.6
79.5
29.3
126.8
10.0
97.0
30.9
1.92
2.29
1.91
2.36
138.3
134.1
1,159.2
1,254.2
'11.1
'1.0
5.0
1.8
1.93
1.90
2.29
1.90
2.24
1.90
2.30
1.90
2.40
37.4
27.3
973
9,061
1,131
9,487
1,135
10,099
649
9,240
8,959
10,540
152,060 131,924
10,986
93,577 ""89,769
870
8,420
7,172
7,112
7,332
6,904
5,676
5,507
219,716
29.57F
17,246
2,520
17,078
2,432
18,449
2,804
18,513
2,623
15,599
2,177
16,592
2,159
242,442
31,234
2.02
2.59
396
9,787
2.70
3.35
154.0
154.4
2.70
3.32
3.00
3.73
Unless otherwise stated in footnotes
below, data through 1984 and
methodological notes are as shown in
September 1987
SURVEY OF CURRENT BUSINESS
S-32
Ann ual
,UT n i..t s
1985
BUSINESS STATISTICS: 1984
1987
1986
1986
July
Nov.
Oct.
Sept.
Aug.
Dec.
Aug.
Jan.
Feb.
Mar.
Apr.
May
June
July
24,438
24,723
28,120
27,702
25,297
24,363
27,509
1,415.0
1,133.3
895.2
1,042.4
1,131.2
683
439
346
937
665
595
943
657
286
5
10.0
5
7.0
5
3.1
373
349
913
611
302
10.5
7.2
3.3
1,900
1,796
5
3.1
77.14
72.45
r
1,657
r
""89.0
963
53.8
899
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..
12,403
19,794
116,413
186,355
40,363
308,660
10,552
19,794
112,612
180,811
48,028
313,244
598
1,445
7,707
16,125
3,538
27,870
796
1,768
9,231
14,039
3,993
25,029
870
1,990
9,836
15,512
4,374
23,817
988
2,082
9,883
16,168
4,867
30,818
858
1,715
8,910
14,586
3,925
29,989
800
1,458
8,499
16,621
3,415
24,190
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly, total
mil. $..
U.S. Government
do....
Prime contract
do....
Sales (net), receipts, or billings, quarterly,
total
do....
U.S. Government
do....
Backlog of orders, end of period #
do....
U.S. Government
do....
Aircraft (complete) and parts
do....
Engines (aircraft) and parts
do....
Missiles, space vehicle systems, engines,
propulsion units, and parts
mil. $..
Other related operations (conversions, modifications), products, services
mil. $..
Aircraft (complete);
Shipments t
do....
Airframe weight t
thous. lb..
Exports, commercial
mil. $..
'110,968
3
70,240
'108,433
110,836
68,001
106,686
'100,522 105,577
3
63,532 65,326
'142,953 148,212
3
92,334 95,009
3
62,553 62,032
3
14,359
13,638
3
21,410
3
17,676
24,320
17,422
10,939.9 12,518.0
(4)
40,872
7,207
6,252
MOTOR VEHICLES (NEW)
Passenger cars:
Factory sales (from U.S. plants):
Total
thous..
7,516
8,002
Domestic
do....
6,869
7,337
Retail sales, total, not seas, adj
do....
11,450
11,039
Domestics §
do....
8,215
8,205
Imports §
do....
3,235
2,834
Total, seas. adj. at annual rate
mil..
Domestics §
do....
Imports §
do....
Retail inventories, domestics, end of period: §
1,630
Not seasonally adjusted
thous ..
1,499
Seasonally adjusted
do....
1,457
1,603
Inventory-retail sales ratio, domestics §
2.1
2.3
701.16
Exports (BuCensus), total
do....
669.46
To Canada
do....
677.19
639.67
Imports (ITC), complete units
do.... 4,394.9 4,691.3
From Canada, total
do.... 1,146.3 1,162.2
Registrations 6, total new vehicles
do.... '10,889 '11,140
Imports, including domestically
sponsored
do....
'3,011
'3,444
Trucks and buses:
Factory sales (from U.S. plants):
3,357
Total
do....
3,130
3,126
Domestic
do....
Retail sales, domestics: *
Total, not seasonally adjusted
do...
3,913.2 '3,947.2
0-10,000 lbs. GVW
do...
3,618.3 3,671.3
10,001 lbs. GVW and over
do...
'275.8
294.8
Total, seasonally adjusted
do...
0-10,000 lbs. GVW.
do...
10,001 lbs. GVW and over
do...
Retail inventories, including captive imports,
end of period:
Not seasonally adjusted
do...
839.4
827.6
Seasonally adjusted @
do...
861.5
850.4
Exports (BuCensus)
do...
185.27 209.06
Imports (BuCensus), including separate
chassis and bodies
thous. 1,472.51 1,572.35
Registrations <>, new vehicles, excluding buses
not produced on truck chassis
thous .
'4,801
'4,675
Truck trailers and chassis, complete (excludes
detachables), shipments ft
number. 179,808 169,269
Van type t t
do... 126,668 122,045
Trailer bodies (detachable), sold
417
252
separately t t
do...
Trailer chassis (detachable), sold
15,046
28,876
separately t t
do...
RAILROAD EQUIPMENT
Freight cars (new), for domestic use; all
railroads and private car lines (excludes
rebuilt
cars and cars for export):
b
h i t
number,
Shipments
do...
Equipment manufacturers
do...
New orders
qp
do...
Equipment
manufacturers
Unfilled
d
id
illed orders,
endd off period
do...
Equipment manufacturers
do...
Freight cars (revenue), class I railroads(AAR): t
Number owned, end of period
thous .
Capacity (carrying), total, end of month
mil. tons.
Average per car
tons.
See footnotes at end of tables.
1,617.9
1,111.0
973.3
795.0
1,127.3
'720
578
'493
476
505
466
954
649
305
10.7
7.5
3.3
426
401
952
673
279
12.5
9.2
3.3
637
581
1,217
925
292
15.6
11.8
3.8
684
627
906
633
273
10.3
7.0
3.3
556
509
783
521
262
10.6
7.2
3.4
561
522
992
673
319
13.0
9.2
3.8
9
617
9
585
626
428
198
8.1
5.6
2.5
691
634
781
558
223
10.2
7.2
3.0
741
675
936
683
252
10.3
7.4
2.9
660
601
938
694
244
10.5
7.4
3.0
626
563
887
622
264
9.6
6.7
3.0
1,726
1,761
2.8
39.18
36.68
435.7
52.2
1,557
1,646
1,293
1,328
1.4
59.52
59.01
322.5
97.5
1,413
1,435
2.4
50.50
45.95
393.1
104.4
1,537
1,504
2.5
54.20
49.95
466.1
120.7
1,499
1,457
1.9
42.81
40.26
365.2
96.0
1,726
1,629
3.5
32.43
28.28
322.9
75.9
1,861
1,737
2.9
60.12
55.57
379.3
97.7
1,936
1,798
2.9
57.33
52.36
346.1
90.3
1,904
1,778
2.9
59.61
53.91
367.7
76.3
1,903
1,812
3.3
64.52
58.36
419.8
76.4
1,149
948
719
902
800
671
829
895
830
317
301
263
324
293
214
262
286
273
r
969
r
296
20.62
18.97
60.0
894
575.0
'309
5
l,613
12,080
'11,674
'9,510
'9,510
1,759
1,759
11,508
11,508
12,426
12,426
2,677
2,677
1,438
1,437
2.0
25.31
20.14
261
243
251
234
264
247
318
295
306
279
246
224
250
230
'°299
'°277
314
290
351
323
335
305
335
304
328.0
304.0
24.0
316.6
294.8
21.9
320.8
299.1
21.6
394.3
371.4
22.9
430.9
407.9
23.1
451.2
428.7
22.5
296.5
271.9
24.7
295.8
272.8
23.0
260.8
241.5
19.3
287.8
263.6
24.2
347.8
322.1
25.7
341.3
316.7
24.7
238.9
219.2
19.7
6
266.6
6
244.8
6
21.8
304.7
284.3
20.4
329.5
305.3
24.3
343.7
26.0
330.1
304.8
25.3
366.8
338.5
28.2
329.8
304.7
25.2
353.4
327.7
25.8
326.6
301.2
25.4
402.3
375.7
26.6
365.8
341.6
24.2
341.5
26.3
354.5
330.8
23.7
349.8
324.5
25.3
416.5
389.6
26.8
935.9
1,017.8
13.62
923.3
976.5
7.18
840.8
874.9
23»28
881.6
893.2
19.44
905.2
884.3
15.47
839.4
861.5
11.48
6
942.5
917.2
17.97
996.1
956.6
16.08
1,026.7
991.7
16.91
1,030.8
991.7
18.62
1,040.4
1,010.4
22.43
1,006.1
987.1
23.96
907.9
990.4
14.68
902.0
953.6
98.25
124.92
126.09
123.32
114.70
455
15,939
10,383
128.67
320
14,253
10,492
14,600
10,966
15,452
11,753
14,526
10,574
48
26
23
23
1,237
1,196
1,212
1,454
12,154
8,757
12
13,927
9,767
142.22
356
326
410
12,514
9,111
14,204
9,997
16,279
11,241
s
434
403
485
16,474
11,350
16,161
11,088
17,290
r
11,864
12
39
20
52
33
1,437
527
585
977
624
r
r
41
48
606
615
1,281
1
P
968
654
'314
'12.4
8.7
'3.7
1,247
1,247
797
797
3,782
3,782
1,161
1,161
1,081
1,081
3,702
3,702
1,134
1,134
1,096
1,096
3,664
3,664
1,132
1,132
723
723
3,255
3,255
867
799
825
822
817
811
72.17
83.23
67.20
84.14
68.97
83.56
68.71
83.60
68.36
83.72
68.04
83.94
668
3,037
3,037
1,954
1,954
1,594
1,594
2,677
2,677
67.90
84.03
67.20
84.14
7
2,687
7
2,687
7
3,860
7
3,860
7
3,850
7
3,198
3,198
4,780
4,780
5,432
5,432
3,850
799
66.96
84.18
792
781
66.69
84.25
65.89
84.35
764
65.76
84.45
65.42
84.51
65.19
84.57
64.72
84.68
September 1987
SURVEY OF CURRENT BUSINESS
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
t Revised series. The estimates of personal income have been revised as a part of the
annual revisions of the national income and product accounts (NIPA's) released in July
1986 and July 1987 and as part of the comprehensive revision of the NIPA's released in
1985. Articles describing those revisions appear in the July 1987, July 1986, and December
1985 issues of the SURVEY. See tables 2.6-2.9 in the July 1987 SURVEY for revised estimates for 1984-86. For 1983 estimates, see the July 1986 SURVEY. Pre-1983 estimates
appear in The National Income and Product Accounts of the United States, 1929-82: Statistical Tables. For order information see the box at the beginning of the National Income
and Product Accounts Tables in this issue of the SURVEY.
X Includes inventory valuation and capital consumption adjustments.
§ Monthly estimates equal the centered three-month average of personal saving as a
percentage of the centered three-month moving average of disposable personal income.
O See note " O " for p. S-2.
Page S-2
1. Based on data not seasonally adjusted.
O Effective with Sept. 1986 SURVEY, the industrial production index has been revised
back to Jan. 1984. These revisions are available upon request.
# Includes data not shown separately.
X Effective April 1987 SURVEY, data have been revised, in some cases, back to January
1982. Revised data appear in the report "Manufacturing and Trade Inventories and Sales"
CB-87-69 available from the Bureau of the Census.
§ Revised series. Data for inventories are available from 1959; sales and ratios 1967
forward. Revisions are available upon request.
Page S-3
# Includes data for items not shown separately.
X See note "$" for p. S-2.
§ See note " § " for p. S-2.
t Revised series. Data have been revised back to 1982. A detailed description of the
changes appear in the report "Manufacturers' Shipments, Inventories, and Orders: 1982-86"
M3-I(86), available from the Bureau of the Census, Washington, DC 20233.
Page S-4
1. Based on data not seasonally adjusted.
# Includes data for items not shown separately.
X Includes textile mill products, leather and products, paper and allied products, and
printing and publishing industries; unfilled orders for other nondurable goods industries
are zero.
O For these industries (food and kindred products, tobacco, apparel and other textile
products, petroleum and coal, chemicals and allied products, and rubber and plastics products) sales are considered equal to new orders.
t See note "t" for p. S-3.
Page S-5
1. Based on unadjusted data.
@ Compiled by Dun & Bradstreet, Inc. Monthly data from 1984 to 1985 for failures and
liabilities, are available upon request, but are not comparable to the earlier years. The
failure annual rate data will be available at a later date.
# Includes data for items not shown separately.
§ Ratio of prices received to prices paid (parity index).
X See note "$" for p. S-4.
t Effective with the July 1986 SURVEY, data (back to 1983, for some commodities) have
been revised. Effective with the Feb. 1987 SURVEY, data (back to 1984, for some commodities) have been revised. Effective with the July 1987 SURVEY, data (back to 1980, for some
commodities) have been revised. These revisions are available upon request.
O See note "t" for p. S-6.
t t See note "t" for p. S-3.
Page S-7
1. Computed from cumulative valuation total.
2. Index as of Sept. 1, 1987: building, 378.2; construction, 412.5.
# Includes data for items not shown separately.
* New series effective Aug. 1987 SURVEY. Data are not directly comparable to Engineering News-Record's, discontinued New Plans series, because of different minimum project
values. Data are available back to Jan. 1986. Data for July and Oct. 1986, and Jan. and April
1987 are for five weeks; other months four weeks.
O Effective Feb. 1987 SURVEY, data for seasonally adjusted housing starts have been
revised back to 1984. Effective Feb. 1986 SURVEY, data for seasonally adjusted housing
starts have been revised back to 1983. These revisions are available upon request.
t Effective May 1987 SURVEY, data for seasonally adjusted building permits have been
revised back to Jan. 1985. Effective May 1986 SURVEY, data for seasonally adjusted building permits have been revised back to Jan. 1984. These revisions are available upon request.
@ Effective July 1987 SURVEY, data have been revised back to 1974. Effective July
1986 SURVEY, data have been revised back to 1964. In addition to the normal revisions, a
number of important changes have been made, which are explained in the Census Bureau's
Construction Reports, C3O-87-5, and Construction Reports, C30-86-5. Revised data for
the most current years appear in these publications, with historical data for earlier years
available from the Construction Statistics Division at the Bureau of the Census, Washington, DC 20233.
X Effective July 1986 SURVEY, this index has been revised to a new comparison base of
1982= 100. Revisions back to 1964 are available upon request.
Page S-8
1. Advance estimate.
# New series effective Sept. 1985 SURVEY. All activity reported on a gross basis (i.e., the
entire amount of loan) including refinancings and combination construction—purchase
loans. Revised data are now available back to Jan. 1984. Earlier data will be available later.
O Home mortgage rates (conventional first mortgages) are under money and interest
rates on p. S-l4.
§ Data include guaranteed direct loans sold.
t Effective April 1987 SURVEY, wholesale trade data have been revised back to Jan.
1980. Revised data and a summary of changes appear in the report Revised Monthly Wholesale
Trade Sales and Inventories BW-13-86S, available from the Bureau of the Census, Washington, D.C. 20233; $1.25 per copy.
X Effective May 1987 SURVEY, retail trade data have been revised. Estimates of retail
sales have been revised back to Jan. 1977 and estimates of retail inventories have been
revised back to Jan. 1980. Revised data and a summary of changes appear in the report
Revised Monthly Retail Sales and Inventories BR-13-86S, available from the Bureau of
the Census, Washington, D.C. 20233; $4.50 per copy.
# Includes data for items not shown separately.
(a) Series revised effective April 1987 SURVEY. Data now include mutual savings banks.
Page S-9
1. Advance estimate.
2. Data beginning Jan. 1986 are not strictly comparable with earlier data because of a
change in estimation procedures.
X See note "$" for p. S-8.
# Includes data for items not shown separately.
O Effective with the January 1987 SURVEY, the seasonally adjusted labor force series
have been revised back to January 1982. The January 1987 issue of Employment and Earnings contains the new seasonal adjustment factors, a description of the current methodology, and
revised data for the most recent 13 months or calendar quarters. Revised monthly data for
the entire 1982-86 revision period are in the February 1987 issue of Employment and
Earnings.
t The participation rate is the percent of the civilian noninstitutional population in the
civilian labor force. The employment-population ratio is civilian employment as a percent
of the civilian noninstitutional population, 16 years and over.
(a) Data include resident armed forces.
Page S-6
Page S-10
§ For producer price indexes of individual commodities, see respective commodities in
the Industry section beginning p. S-l9. All indexes subject to revision four months after
original publication.
# Includes data for items not shown separately.
t Beginning with January 1987 data, the consumer price indexes are being calculated on
a revised basis, using 1982-84 expenditure patterns and updated population weights. Additional
information regarding the revised basis is available from the Bureau of Labor Statistics,
Washington, DC 20212. Seasonally adjusted data have been revised as follows: back to
1981, effective with the Feb. 1986 SURVEY and back to 1982, effective with the Mar. 1987
SURVEY. These revisions are available upon request.
X Effective with the Feb. 1986 SURVEY, data back to 1981 have been revised. Effective
with the Feb. 1987 SURVEY, data back to 1982 have been revised. These revisions are
available upon request.
O See note " O " for p. S-9.
§ Effective June 1987 SURVEY, data have been revised back to April 1985 (not seasonally adjusted) and January 1982 (seasonally adjusted) to reflect new benchmarks and seasonal adjustment factors. The June 1987 issue of Employment and Earnings will contain a
detailed discussion of the effects of the revisions.
Page S-l 1
X This series is not seasonally adjusted because the seasonal component is small relative
to the trend-cycle and/or irregular components and consequently cannot be separated with
sufficient precision.
O Production and nonsupervisory workers.
§ See note"§" for p. S-10.
SURVEY OF CURRENT BUSINESS
S-34
September 1987
Page S-12
Page S-15
I. 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. Use the corresponding unadjusted series.
§ See note " § " for p. S-10.
O Production and nonsupervisory workers.
X Earnings in 1977 dollars reflect changes in purchasing power since 1977 by dividing by
Consumer Price Index.
§§ Wages as of Sept. 1, 1987: Common, $17.05; Skilled, $22.41.
@ New series. The Employment Cost Index (ECI) is a quarterly measure of the average
change in the cost of employing labor. See p. S-36 of the August through October 1984
issues of the SURVEY for a brief description of the ECI.
t Excludes farm, household, and Federal workers.
XX See note "t" for p. S-l I.
t Effective Feb. 1987 SURVEY, the money stock measures and components have been
revised and are available from the Banking Section of the Division of Research and Statistics at the Federal Reserve Board, Washington, D.C. 20551.
X Composition of the money stock measures is as follows:
MI.—This measure is currency plus demand deposits at commercial banks and interestearning checkable deposits at all depository 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 depository institutions. Depository 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.
Mi.—This measure equals M2 plus large-denomination time deposits (those issued in denominations of $100,000 or more) at all depository 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.
XX Includes ATS and NOW balances at all depository institutions, credit union share
draft balances, and demand deposits at thrift institutions.
O 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.
Page S-13
1. Average for Dec.
2. Reported annual; monthly revisions are not available.
t Effective January 1984, series revised due to changes in the reporting panel and in the
item contents. The new panel includes 168 banks that had domestic office assets exceeding
$1.4 billion as of December 31, 1982. Beginning Jan. 1985, data are as of the last Wednesday of the month. Earlier data are as of the Wednesday nearest the end of the month or year
(meaning some data are as of the first Wednesday of the next month).
# Includes data for items not shown separately.
XX Reflects offsetting changes in classification of deposits of thrift institutions. Deposits of thrifts were formerly grouped with deposits of individuals, partnerships, and corporations, instead of with deposits of commercial banks in the United States.
* "Transaction balances other than demand deposits" consists of ATS, NOW, super
NOW, and telephone transfer accounts, which formerly were classified with savings deposits. "Nontransaction balances" reflects the combination of deposits formerly reported separately as time deposits and the savings deposits remaining after deduction of the items now
reported separately under "transaction balances."
§ Excludes loans and federal funds transactions with domestic commercial banks and
includes valuation reserves (individual loan items are shown gross; i.e., before deduction of
valuation reserves).
O Securities of Federal agencies and corporations have been shifted out of "other securities" and are now combined with U.S. Treasury securities. Also, loan obligations of States
and political subdivisions have been shifted out of "other securities" and are now shown
separately among the loan items.
@ Insured unemployment (all programs) data include claims filed under extended duration
provisions of regular State laws; amounts paid under these programs are excluded from
state benefits paid data.
@@ Insured unemployment as a percent of average covered employment in a 12-month
period.
t Beginning with October 1984 data, the number of respondents in the bankers acceptance survey was reduced from 340 to 160 institutions, those with $50 million or more in total
acceptances. The new reporting group accounts for over 95 percent of total acceptances
activity. Historical data are available upon request.
** Effective Aug. 1987 SURVEY, data are provided by the Farm Credit Corporation of
America on a quarterly basis. Quarterly data are available back to first quarter 1985, with
annual data available back to 1961.
Page S-l4
1. Data are for fiscal years ending Sept. 30 and include revisions not distributed to the
months.
2. Weighted by number of loans.
3. Effective Sept. 1987 SURVEY, the outlays for the Federal Deposit Insurance Corporation have been adjusted by $442 million for 1986 and $158 million for 1987 to reflect
Federal Deposit Insurance Corporation debentures issued in lieu of cash and not reported
previously as outlays.
t Effective with Mar. 1987 SURVEY, the consumer installment credit series have been
revised for the period 1980 through 1986 to reflect updated seasonal adjustment factors and
newly available historical information for depository institutions, finance companies, and
retailers. Effective with Apr. 1986 SURVEY, the consumer installment credit series have
been revised for the period 1975 through 1985.
* New series. Effective with Apr. 1986 SURVEY, data for savings institutions (includes
savings and loan associations, mutual savings banks, and federal savings banks) are shown
for the first time.
# Includes data for items not shown separately.
O Adjusted to exclude domestic commercial interbank loans and federal funds sold to
domestic commercial banks.
X Rates on the commercial paper placed for firms whose bond rating is Aa or the equivalent.
XX Courtesy of Metals Week.
@@ Average effective rate
§ Effective May 1987 SURVEY, data have been revised back to Dec. 1972 and are available from the Banking Section, Division of Research and Statistics, Board of Governors of
the Federal Reserve System, Washington, D.C. 20551.
@ Revised for periods between October 1986 and February 1987. During this interval,
outstanding gold certificates were inadvertently in excess of the gold stock.
Page S-16
1. Effective with Jan. 1986 data, the practice of adjusting exports and imports for seasonal and working-day variations was discontinued.
2. Effective Aug. 1987 SURVEY, adjustments for undocumented U.S. exports to Canada
have been made for the months of Jan. to June 1987 and calendar years 1970 to 1986.
§ Number of issues represents number currently used; the change in number does not
affect the continuity of the series.
X For bonds due or callable in 10 years or more.
# Includes data for items not shown separately.
(a) 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.
t Effective April 22, 1987, "New York City banks" are classified as "money center
banks," and "outside N.Y.C. banks" are classified as "major regional banks." Two banks
formerly in "outside N.Y.C. banks" were transferred to "money center banks." In addition
three substitutions were made in "major regional banks."
# New series. See note on p. S-36 of the May SURVEY. Historical data are available upon
request.
Page S-17
1. See note 1 for p. S-16.
2. See note 2 for p. S-16.
# 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.
Page S-18
1. Annual total; quarterly or monthly revisions are not available.
2. Restaurant sales index data represent hotels and motor hotels only.
3. For month shown.
# Includes data for items not shown separately.
§ Total revenues, expenses, and income for all groups of carriers also reflect nonscheduled service.
* Data have been revised back to 1981. They now include commuter railroads and small
transit systems. Revised data are available upon request.
X The threshold for Class I railroad status is adjusted annually by the Interstate Commerce Commission to compensate for inflation.
O Average daily rent per room occupied, not scheduled rates.
## Data represent entries to a national park for recreational use of the park, its services,
conveniences, and/or facilities.
t Before extraordinary and prior period items.
SURVEY OF CURRENT BUSINESS
September 1987
S-35
Page S-19
Page S-24
1. Reported annual total; monthly revisions are not available.
2. For month shown.
3. Less than 500 short tons.
# Includes data for items not shown separately.
§ Data are reported on the basis of 100 percent content of the specified material unless
otherwise indicated.
# New series. Access lines are a communication circuit that connects a customer location to a switching center.
(a) Because of deregulation, carriers are free to enter both domestic and international
markets. Previously, carriers were limited either to domestic or overseas markets. Separate
data for domestic or overseas are no longer available.
t Data for 1984 (and for some commodities, 1985 and 1983) have been revised and are
available upon request.
t Effective with 1985, data are reported on the basis of 100 percent content of ethyl
acetate material.
O Beginning January, 1986, data are not directly comparable to earlier periods because
the data represent only companies that have annual revenues over $100 million.
1. Annual data; monthly revisions not available.
2. Less than 500 tons.
3. Beginning January 1985, data have been revised because of a new estimation procedure and may not be comparable to earlier periods.
4. See notes 1 and 3 for this page.
* New series. Historical data are available upon request.
Page S-20
1. Reported annual total; monthly or quarterly revisions are not available.
2. Data are no longer available.
§ Data are not wholly comparable from year to year because of changes from one classification to another.
O Data for 1982-85 have been revised and are available upon request,
t Data for 1983-85 have been revised and are available upon request.
# Effective with the Sept. 1985 SURVEY, monthly data have been restated back to Jan.
1984 to include consumption for Hawaii. Prior to 1984, consumption for Hawaii is reflected
in annual totals only. Effective with the Aug. 1987 SURVEY, data for 1985-86 have been
revised and are available upon request.
t Revised data for 1983-85 (and 1981, for revenue from sales to ultimate customers) are
available upon request.
# New series, first shown in the January 1987 SURVEY. Data (formerly included with the
"industrial" class) are reported separately, beginning with 1st Qtr. 1985.
(a) Includes less than 500 electric generation customers not shown separately.
Page S-21
1. Previous year's crop. Through 1985, new crop is not reported until Oct. (crop year:
Oct. 1-Sept. 30). Beginning 1986, new crop is reported beginning Sept. (crop year: Sept.
1-Aug. 31).
2. Crop estimate for the year.
3. Stocks as of June 1.
4. Stocks as of June 1 and represents previous year's crop; new crop not reported until
June (beginning of new crop year). Beginning with 1986, quarterly stock estimates for barley and oats are no longer available. However, June 1 stocks will continue to be available and
published here in the May and Annual columns each year.
5. Less than 50,000 bushels.
6. See note "@" for this page.
7. Stocks as of Dec. 1.
8. Based on a 11-month average.
9. Prices are no longer available.
10. Effective with 1986 reporting, coverage has been reduced to 21 selected States,
representing approximately 85 percent of U.S. production. Comparable data for 1985 are
available upon request.
11. Sept. 1 estimate of 1987 crop.
12. Reported annual total; monthly revisions are not available.
§ Excludes pearl barley.
# Bags of 100 lbs.
@ Effective with the Mar. 1987 SURVEY, data have been restated to reflect a change in
reporting periods. The quarterly data, available back through 1976, now represent the 3-month
periods Dec.-Feb., Mar.-May, June-Aug., and Sept.-Nov. The annual data, also available
back through 1976, now represent Dec.-Nov.
Page S-25
1. Annual data; monthly revisions are not available.
2. For month shown.
t Beginning January 1982, data represent metallic (mostly aluminum) content. Data for
1981 and prior years represent aluminum content only.
O The source for these series is now the Bureau of Mines.
§ Source: Metals Week.
* New series. Refined copper is recovered from leach solution by electrolysis.
Page S-26
1. Annual data; monthly revisions are not available.
2. Less than 50 tons.
3. Beginning 1st quarter 1984, data have been revised because of a new sample and may
not be comparable to earlier periods.
4. Total for 8 months; no data for March, April, September, and October.
5. Total for 10 months; no data for November and December.
6. Beginning July 1986, data are not comparable with earlier periods.
7. Total for 5 months; data for May, June, Sept., Nov., and Dec.
8. Total for 10 months; no data for Jan. and Feb.
O 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.
X Source for monthly data: American Bureau of Metal Statistics. Source for annual
data: Bureau of Mines.
# Includes data not shown separately.
§ Beginning with the Aug. 1985 SURVEY, unadjusted fluid power shipments indexes are
shown. Seasonally adjusted indexes are no longer available.
* New series. For an explanation of material handling equipment shipments and historical data, see p. S-35 of the Dec. 1985 SURVEY.
Page S-27
1. Data are for five weeks; other months 4 weeks.
2. Beginning January 1986, data have been restated because a new methodology has
been adopted.
# Includes data for items not shown separately.
§ Includes nonmarketable catalyst coke. See also note "@@" for this page.
O Includes small amounts of "other hydrocarbons and alcohol new supply (field production)," not shown separately.
t Effective with the Oct. 1985 SURVEY, coal production data for 1984 have been revised.
Effective with the July 1986 SURVEY, coal consumption and stocks for 1985 have been
revised. Effective with the Oct. 1986 SURVEY, coal production data for 1985 have been
revised. Effective with the April 1987 SURVEY, coal consumption and stocks back through
1985 have been revised. These revisions are available upon request.
@ Includes U.S. produced and imported microwave ovens and combination
microwave oven/ranges.
*
X "Tractor shovel loaders includes some front engine mount wheel tractors that had
previously been included in "Tractors, wheel, farm, and nonfarm."
@@ Effective with the July 1986 SURVEY, data for 1985 have been revised. Effective
with the July 1987 SURVEY, data for 1986 have been revised. These revisions are available
upon request.
Page S-22
Page S-28
1. Figure covers 20 selected States, representing approximately 84 percent of U.S.
production.
§ Cases of 30 dozen.
O Bags of 60 kilograms.
# This series, first shown in the January 1987 SURVEY, is from the Bureau of Labor
Statistics International Price Program and provides a measure of price change for coffee
purchased from other countries by U.S. residents. Prices are based on the cost, insurance,
and freight (c.i.f.) value at the U.S. port of importation; they include the other costs associated
with bringing the product to the U.S. border, but do not include duty charges. To the extent
possible, the data gathered refer to transactions completed during the first 2 weeks of the
third month of each calendar quarter—March, June, September, and December. Annual
data back to 1978 and quarterly data back to 2d Qtr. 1977 are available upon request.
1. Reported annual totals; revisions not allocated to the months.
2. Effective with the Jan. 1985 price, gasoline that contains alcohol as an additive is
included.
# Includes data for items not shown separately.
t Except for price data, see note "@@" for p. S-27.
X Effective with June 1985, indexes reflect price movements through the middle of the
month for which they are shown. Indexes prior to June 1985 were based on prices for the
previous month; reflecting a one-month lag in pricing.
Page S-23
1. Crop estimate for the year.
2. Reported annual total; revisions not distributed to the months.
3. Sept. 1 estimate of 1987 crop.
# Totals include data for items not shown separately.
O Effective Aug. 1987 SURVEY, the footwear production series have been revised for
1985 and 1986. These revisions, along with earlier revisions for 1983 and 1984 data, are
available upon request.
Page S-29
1. See note 1 for p. S-28.
O Source: American Paper Institute. Total U.S. estimated consumption by all newspaper users.
§ Compiled by the American Newspaper Publishers Association.
* New series. This index is from the Bureau of Labor Statistics International Price Program
and provides a measure of price change for natural rubber purchased from other countries
by U.S. residents. The data gathered refer to prices that are "free on board" (f.o.b.) foreign
port. The prices refer to transactions completed during the first 2 weeks of the third month
of each calendar quarter—March, June, September, and December. Data back to December 1983 are available upon request.
SURVEY OF CURRENT BUSINESS
S-36
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. Beginning with 1985, value of shipments for rolled and wire glass is excluded. Comparable data for 1984 and earlier periods, which exclude such shipments, are not available.
# Includes data for items not shown separately.
O Cumulative ginnings to the end of month indicated.
§ Bales of 480 lbs.
t Monthly revisions for 1984-86 are available upon request,
t Monthly revisions for 1985-86 are available upon request.
* New series, first shown in the Oct. 1986 SURVEY. Monthly indexes are available back
to Dec. 1984.
** New series, first shown in the January 1987 SURVEY. Monthly data are available
back to Jan. 1985.
Page S-31
1. Less than 500 bales.
2. Annual total includes revisions not distributed to the months.
3. Average for crop year; Aug. 1 -Jul. 31.
4. For five weeks; other months four weeks.
O Based on 480-lb. bales, preliminary price reflects sales as of the 15th; revised price
reflects total quantity purchased and dollars paid for the entire month (revised price includes discounts and premiums).
# Includes data not shown separately.
§ Bales of 480 lbs..
* New series.
Page S-32
1. Annual total includes revisions not distributed to the months.
September 1987
2. Production of new vehicles (thous. of units) for Aug. 1987: passenger cars, 420; trucks
and buses, 291.
3. Effective with 1984, data are reported on an annual basis only. The annual/end of year
figure for 1982 has been revised and is available upon request.
4. Data are no longer available.
5. Effective with the July 1986 and 1987 SURVEYS, data have been revised back to 1984 and are
available upon request.
6. Effective with the Feb. 1987 SURVEY, data have been revised back to 1984 and are
available upon request.
7. Effective with 1987, frequency of reporting has been changed from a monthly to a
quarterly basis.
8. Effective with the July 1987 SURVEY, data have been revised back to June 1985 to
reflect the inclusion of imports for bodies (including cabs) of automobile trucks except
truck tractors, which were previously omitted.
9. Beginning with January 1987, data include Honda, Nissan, and Toyota passenger cars
produced in U.S. plants.
10. Beginning with January 1987, data include Nissan trucks produced in U.S. plants.
# 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.
O 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 Monthly revisions for 1984-86 are available upon request.
@ Effective with the Feb. 1986 SURVEY, retail inventories of trucks and buses have
been revised back to 1967. These revisions, which were made to reflect updated factors, are
shown on p. S-35 of the Feb. 1986 SURVEY.
* New series. GVW: gross vehicle weight. For an explanation of methodology and historical
data for retail sales of trucks and buses, see p. S-36 of the July 1986 SURVEY.
t t Data for 1983-86 have been revised and are available upon request.
Pages S1-S36
si,
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
Industry:
Chemicals and allied products
Electric power and gas
Food and kindred products; tobacco
Leather and products
1-5
5, 6
7, 8
8, 9
9-13
13-16
16-18
18, 19
19, 20
20
20-23
23
Lumber and products
Metals and manufacturers
Petroleum, coal, and products
Pulp, paper, and paper products
23, 24
24-27
27, 28
28, 29
Rubber and rubber products
Stone, clay, and glass products
Textile products
Transportation equipment
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, 31, 32
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, prices, sales, yields
15, 16
Brick
30
Building and construction materials
2, 4, 5
7
Building costs.
7
Building permits
5
Business incorporation (new), failures .
2,3
Business sales and inventories
21
Butter
31
Carpets
22
Cattle and calves
30
Cement
,
Chain-store sales, firms with 11 or more
9
stores (retail trade)
21
Cheese
19,20
Chemicals
2-4, 10-12, 15, 17,
23
Cigarettes and cigars
,
2-4, 30
Clay products
Clothing (see apparel)
2,27
Coal
22
Cocoa
22
Coffee
27
Coke
Combustion, atmosphere, heating equip26
ment
15, 19
Communication
,
Construction:
7
Contracts
,
7
Costs
Employment, unemployment, hours,
10-12
earnings
7
Housing starts
7
New construction put in place
14
Consumer credit
1, 2
Consumer goods output, index
5,6
Consumer Price Index
25,26
Copper and copper products
,
21
Corn.
5,6
Cost of living (see Consumer Price Index)
Cotton, raw and manufactures
5, 30, 31
14
Credit, commercial bank, consumer
Crops
5, 21, 23,30
3,27
Crude oil
15
Currency in circulation
Dairy products
Debt, U.S. Government....
Deflator, PCE
Department stores, sales, inventories
Deposits, bank
3j
5, 21
14
1
9
13, 15
Dishwashers and disposers
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
Employee-hours, aggregate, and indexes
11
Employment and employment cost
10-12
Exports (see also individual commodities)
16-18
Failures, industrial and commercial
5
Farm prices
5, 6
Fats and oils
17
Federal Government finance
14
Federal Reserve banks, large commercial
13
Federal Reserve member banks
13
Fertilizers
19
Fish
22
Flooring, hardwood
24
Flour, wheat
22
Fluid power products
Z6
Food products
2-6, 8, 10-12, 15, 17, 20-23
Foreign trade (see also individual commod.)
16-18
Freight cars (equipment)
32
Fruits and vegetables
5
Fuel oil
6, 28
Fuels
2, 6, 17, 27, 28
Furnaces
27
Furniture
2, 6, 8-12
Gas, output, prices, sales, revenues
Gasoline
Glass and products
Glycerin
Gold
Grains and products
Grocery stores
Gypsum and products
2, 6, 20
28
30
19
14
5, 21, 22
9
30
Hardware stores
8
Heating equipment
26
Help-wanted advertising index
12
Hides and skins
6
Hogs
22
Home loan banks, outstanding advances
8
Home mortgages
8
Hotels, motor hotels and economy hotels
18
Hours, average weekly
11
Housefurnishings
2, 4, 6, 8, 9
Household appliances, radios, and television sets
27
Housing starts and permits
7
Imports (see also individual commodities)
Income, personal
Income and employment tax receipts
Industrial production indexes:
By industry
By market grouping
Installment credit
Instruments and related products
Interest and money rates
Inventories, manufacturers' and trade
Inventory-sales rates
Iron and steel
17, 18
1
14
1, 2
1, 2
14
2-4, 10-12
14
3, 4, 9
3
2, 15, 24, 25
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
2, 10-12
Mobile homes, shipments, installment credit
7, 14
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 pa
sits
18
Newsprint .
29
New York I
Exchange, selected data
16
Nonferrous «,.-tals
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 (see also individual commodities)
6
Profits, corporate
15
Public utilities
1, 2, 7, 15, 20
Pulp and pulpwood
28
Purchasing power of the dollar
6
Radio and television
8, 27
Railroads
13, 18, 32
Ranges and microwave ovens
27
Real estate
8, 13
Receipts, U.S. Government
14
Refrigerators and freezers
27
Registrations (new vehicles)
32
Rent (housing)
6
Retail trade
2, 3, 5, 8-12, 32
Rice
21
Rubber and products (incl. plastics)
2-4,
6, 10-12, 29
Saving, personal
Savings and loan associations
Savings deposits
Securities issued
Security markets
Services
Sheep and lambs
Shoes and other footwear
Silver
Spindle activity, cotton
Steel and steel manufactures
Stock market customer
Stock prices, yields, sales, etc
Stone, clay, glass products
Sugar
Sulfur
Sulfuric acid
Superphosphate
Synthetic textile products
1
8, 14
13, 15
15
15, 16
6, 10-12
22
23
14
31
24, 25
financing
15
16
2-4, 10-12, 15, 30
23
19
19
19
31
Tea imports
Telephone and telegraph carriers
Textiles and products
2-4, 6,
Tin
Tires and inner tubes
Tobacco and manufactures
Tractors
Trade (retail and wholesale)
Transit lines, urban
Transportation
Transportation equipment
2-6,
Travel
.>w
Truck trailers
Trucks
23
19
10-12, 15, 30, 31
26
29
2-4, 10-12, 23
27
2, 3, 5, 8-12, 32
18
6, 10-12, 15, 18
10-12, 15, 17, 32
18
32
2, 32
Unemployment and insurance
U.S. Government bonds
U.S. Government
finance
Utilities
9, 10, 13
16
„_....
14
M 2, 6, 7, 15, 20
Vacuum cleaners
Variety stores
Vegetables and fruits
...v^.^,....
*,*
Wages and salaries ,.^trKn...
Washers and dcra*
Water heateM..,..
Wheat an&fteat flour
Who
jBw
,
%njt^vao} manuf&ct&fes
I!L.!^««."I<
....„>«*«**
27
5
1 , 12
27
27
21, 22
2, 3, 5, 8, 10-12
28
31
26
@FedFRASER