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^ 0 F C 0 BUSINESS STATISTICS °^ April 15, 1977 A WEEKLY T y SUPPLEMENT TO THE \ MM SURVEY OF CURRENT BUSINESS* U.S. DEPARTMENT OF COMMERCE/BUREAU OF ECONOMIC ANALYSIS BILLIONS OF DOLLARS 500 BILLIONS OF DOLLARS 500 TOTAL LOANS AND INVESTMENTS 475 (Weekly Reporting Member Banks of Federal Reserve Monthly (average of Wednesday data)" System) 450 425 400 375 350 325 300 i i \ i i i i i i i i i i i i 1974 i l i i i i i I I I I 1975 I I L_J_ I I I I t 1976 I I 1977 J F M A M J J A S O N D Data: Federal Reserve Board SHORT TONS 20,000 RAW STEEL PRODUCTION (ingots and all other forms) SHORT TONS 5,000 Monthly 16,000 4,000 12,000 3,000 8,000 2,000 4,000 i i i i 1974 i L J i i i i I i 1975 • ' ' ' ! ' ' • ' ' ' 1976 ' I ' ' ' 1,000 • • J 1977 F M A M J J A S O N D Data: Amer. Iron & Steel Inst. 1967 = 100 220 BILLIONS OF DOLLARS WHOLESALE PRICES 60 SALES OF RETAIL STORES 200 y (seasonally adjusted) Farm Products and Processed Foods and Feeds Total ^^y 50 180 \/' Industrial Commodities 40 160 140 1 2 0 30 I i i i i i I i i i i i I ii i i i i 1 1i i 1 1 i i i t 1 1 1974 Data: U.S. Dept. of Labor 1975 1976 I i i i i i i i i i i i 1977 Nondurable i i i i i 1 i i i i i Goods I I I I 1 1 I I 1 1 1 ..LJUU-jJ 1 1 1 1 1 1974 U.S. Dept. of Commerce * Available only with subscription to the SURVEY OF CURRENT BUSINESS, this Supplement provides selected weekly and monthly data subsequent to those published in the latest monthly SURVEY *' A All Commodities 1975 1976 i i i i i 1 i i i i i 1977 WEEKLY BUSINESS STATISTICS1 2 1976 Apr. 3 Apr. 10 Mar. 19 Mar. 26 Apr. 2 Apr. 9 197,3 198.4 196.4 197,3 201.5 198.2 218.7 211.9 223.3 221.4 217.1 224.2 219.2 213.6 223.0 mil. $. do. .. 12,565 8,070 12,260 8,208 13,004 8,508 12,917 8,446 13,887 8,761 INITIAL UNEMPLOYMENT CLAIMS, State programs thous. INSURED UNEMPLOYMENT, all programs do. . . State programs (50 States, D.C. and Puerto Rico) do... FAILURES, INDUST. AND COMMERCIAL (Dun £ Bradstreet)..number. 334 4,123 3,198 194 366 3,999 3,090 176 322 3,960 3,166 180 299 3,857 3,064 166 296 205 167 85,124 101,850 34,236 398 85,720 98,014 33,587 123 93,084 105,065 34,015 173 93,086 110,049 33,955 112 93,013 109,386 34,759 319 93,622 106,007 34,334 283 106,097 78,317 377,919 41,808 114,612 60,530 105,731 79,061 382,401 43,949 113,938 60,527 108,831 93,724 405,809 50,691 117,160 64,824 107,203 94,043 401,202 49,817 117,118 64,920 9.10 102.77 115.66 9.08 102.21 114.99 8.50 102.17 113.80 8.51 100.20 111.40 8.53 98.54 109.46 8.52 97.91 108.72 thous. sh. tons. mil. kw.-hr. number. thous. bbl. 11,845 36,022 174,893 8,146 13,720 35,434 195,545 8,146 14,610 37,755 202,453 8,067 14,825 38,688 208,414 8,067 13,350 thous. sh. tons, percent. 2,588 85.7 2,655 87.9 2,486 81.0 2,572 83.8 bil. 15.0 15.4 16.8 17.1 WHOLESALE PRICES, 22 COMMODITIES 2/ 9 Foodstuffs 13 Raw industrials 1967=100. do. . . do.. . ALL RETAIL STORES, SALES Nondurable goods stores FINANCE: Currency in circualtion 3/ mil. $. Federal Reserve bank credit outstanding, total 3_/....do... Member bank reserve balances 5/ do.. . Excess reserves, estimated 3/ do.. . Assets and liabilities of large commercial banks: 4/ Demand deposits, adjusted do. . . Savings deposits do... Loans and investments, gross adjusted, total do... U.S. Government obligations do... Commercial and industrial loans (gross) do... Real estate loans (gross) do. . . Bond yields, domestic corporate (Moody's) 3/ percent. Stock prices, 500 stocks (Stand. § Poor's) 4/..1941-43=10. Industrial, 400 stocks do. .. PRODUCTION: Bituminous coal Electric power, by utilities Motor vehicles (passenger cars) Petroleum (crude) and condensate _3/ Steel, raw Rate of capability utilization 5/ RAIL FREIGHT, REVENUE TON-MILES 219.1 214.4 223.0 208,722 154,832 2,569 82.1 2,584 82.6 1/ Data do not always cover calendar weeks. 2/ Tuesday price. 3/ Daily average. 4/ Wednesday data. 5/ Capability for a full order book based on current availability of raw materials, fuels, supplies, and industry facilities, e/ Estimated. MONTHLY BUSINESS STATISTICS 1976 Feb. Mar. 1977 Dec. Feb. COMMODITY PRICES SPOT MARKET PRICES, BASIC COMMODITIES: 22 Commodities 9 Foodstuffs 13 Raw industrials WHOLESALE PRICE INDEXES: ALL COMMODITIES Farm products Food and feeds, processed Industrial commodities Chemicals and allied products Fuels and related products, and power 1967=100. do. . . do.. . 193.2 202.9 186.6 196.0 200.0 193.1 200.6 196.7 203.2 207.3 203.0 210.2 213.0 208.0 216.4 do. . . do. . . do. . . do. .. do.. . do. .. 179.3 191.0 176.4 178.0 184.9 255.7 179.6 187.2 175.8 178.9 185.6 255.7 187.1 191.6 179.0 187.4 188.4 278.8 188.0 193.5 179.3 188.4 188.9 278.7 190.0 199.0 181.9 189.9 189.8 289.0 191.9 202.4 183.9 191.6 191.1 293.4 do. .. do. .. do... do. .. do. .. 143.4 159.9 196.0 167.7 189.2 143.9 162.0 202.3 168.2 190.6 147.8 171.5 219.9 175.5 200.8 148.6 174.5 222.7 177.0 201.8 149.1 176.7 224.2 177.5 203.0 149.6 177.6 228.7 178.2 206.4 Nonmetallic mineral products do.. . Pulp, paper, and allied products do. .. Rubber and plastics, products do. .. Textile products and apparel do.. . Transportation equipment Dec. 1968=100. Motor vehicles and equipment 1967=100. PURCHASING POWER OF THE DOLLAR AS MEASURED BY-Wholesale prices 1967=$1.00. 181.3 175.8 154.2 146.3 148.8 151.3 182.5 176.9 155.5 146.7 149.1 151.7 189.5 182.0 164.6 149.5 157.0 159.5 192.3 182.9 164.5 150.3 157.1 159.2 193.4 183.0 164.0 151.1 157.2 159.4 195.0 183.6 164.3 152.1 158.4 160.7 $0,558 $0,557 $0,534 $0,532 $0,526 $0,521 45,243 14,764 8,954 2,064 1,773 51,752 17,758 10,932 2,304 2,137 68,171 19,639 10,265 3,187 2,386 r49,213 rl5,645 r9,612 r2,183 rl,784 r49,364 r16,594 rl0,325 r2,198 1,945 58,258 20,510 12,906 2,589 Furniture and household durables Hides, skins, and leather products Lumber and wood products Machinery and equipment Metals and metal products DOMESTIC TRADE RETAIL TRADE, ALL RETAIL STORES: ESTIMATED SALES (UNADJUSTED) , TOTAL 1/ Durable goods stores Automotive dealers Furniture, home furn., and equip, stores Building materials and hardware dealers r_/ Revised. 84,259 mil. $ do.. do. . do.. do.. 1/ Data for Mar. 1977 are advance estimates. MONTHLY BUSINESS STATISTICS —Continued 3 1976 Feb. Mar. Dec. 30,479 1,768 1,462 3,723 10,507 3,475 6,213 33,994 2,050 1 571 4,083 11, 176 3,779 7,696 48,532 4,147 2,357 4,495 13,210 4,248 15,342 r33,568 rl,959 rl,578 r4,081 rll,521 r3,969 r6,484 r32,770 rl,850 rl,582 r4,139 rll,060 r3,669 r6,595 do. . . do. .. do... do... do. .. 52,601 17,397 10,346 2,332 2,291 53,344 17 403 10 162 2 388 2 364 57,898 19,730 12,014 2,516 2,528 r56,660 rl9,024 rll,602 r2,414 r2,371 r58,166 rl9,754 rll,963 r2,556 2,539 do... do... do. . . do... do. . . do.. . do. . . 35,204 2,369 1,572 4,174 11,424 3,861 8,401 35 941 2 377 1 643 4 321 11 567 3 892 8,606 38,168 2,473 1,733 4,518 12,188 4,274 9,153 r37,636 r2,380 rl,690 r4,465 rll,871 r4,263 r8,882 r38,412 r2,484 rl,737 r4,802 rl2,134 r4,222 r8,985 do.. . do.. . 75,366 76,243 78 037 77, 298 80,855 82,405 81,217 83,616 do... do... 13,349 16,079 15 389 16,420 24,522 17,602 rl4,510 rl7,116 14,356 17,421 thous do.. do. . do.. do. . do.. 78,635 63,775 45,001 23,112 767 3,571 78 ,980 64 ,083 45 ,186 23,248 773 3,578 80,344 65,298 46,203 23,508 808 3,605 r80,561 r65,552 r46,341 r23,589 817 r3,561 r80,816 r65,827 r46,610 r23,680 r827 r3,636 do.. do.. do.. 18,774 10,857 7,917 18 ,897 10 ,956 7 ,941 19,095 11,158 7,937 rl9,211 rll,236 r7,975 rl9,217 rll,226 r7,991 do.. do.. do.. do.. do.. 55,523 4,504 17,496 4,231 13,265 55 ,732 4 ,507 17,592 4 ,236 13 ,356 56,836 4,553 17,898 4,304 13,594 r56,972 4,549 rl7,981 r4,323 rl3,658 r57,136 r4,555 rl8,086 r4,343 rl3,743 do. . do.. do. . do.. do.. 4,266 14,397 14,860 2,742 12,118 4 ,276 14 ,460 14 ,897 2,735 12,162 4,403 14,936 15,046 2,720 12,326 r4,423 rl5,010 rl5,009 2,721 rl2,288 r4,438 rl5,068 rl4,989 r2,721 rl2,268 52,460 13,496 7,734 52 ,728 13 ,602 7,815 53,672 13,691 7,955 r53,813 rl3,801 r8,026 r54,061 rl3,797 r8,012 hours. do. . . do.. . do. .. do... do.. . 36.4 37.7 40.3 3.1 40.7 3.0 36.2 36.0 10.3 3.1 36.2 37.3 40.0 3.2 40.5 3.3 r35.8 r35.4 r39.5 3.2 r40.0 3.4 r36.2 r37.7 r40.2 3.3 r40.7 3.3 HOURLY EARNINGS (GROSS), AVG. PER PROD. WORKER ON PAYROLLS: Manufacturing, not seasonally adjusted-•• dollars. Excluding overtime do.. . Durable goods do.. . Excluding overtime do. . . Nondurable goods do. .. Excluding overtime do... 5.04 4.86 5.40 5.21 4.54 4.38 5.07 4.88 5.43 5.24 4.56 4.39 5.42 5.21 5.78 5.55 4.90 4.71 r5.46 5.25 r5.81 r5.59 r4.95 4.77 r5.43 5.23 r5.79 5.57 r4.93 r4.75 180.3 193.6 180.4 180.0 194.1 174.4 168.1 181.1 194.8 182.9 180.9 195.2 175.0 168.1 1 RS. 1R<; A 190.4 207.2 189.7 191.1 203.7 184,5 172.8 195 4 rl92.7 r208.4 rl92.4 rl92.3 r207.9 rl86.4 rl76.6 v1QR A rl93.1 r210.9 rl90.7 rl93.2 r207.0 rl87.7 rl75.7 rlQS 7 Jan. DOMESTIC TRADE--Con. RETAIL TRADE, ALL RETAIL STORES--Con. ESTIMATED SALES (UNADJUSTED)--Con. 1/ Nondurable goods stores.. Apparel and accessory stores Drug and proprietary stores Eating and drinking places Food stores Gasoline service stations General merchandise group with nonstores ESTIMATED SALES (SEAS. ADJ. ) , TOTAL 1/ Durable goods stores Automotive dealers Furniture, home furn., and equip, stores Building materials and hardware dealers Nondurable goods stores Apparel and accessory stores Drug and proprietary stores Eating and drinking places Food stores Gasoline service stations General merchandise group with nonstores ESTIMATED RETAIL INVENTORIES, END OF MONTH: Unadjusted, total Adjusted, total RETAIL FIRMS WITH 11 OR MORE STORES: Estimated sales (unadjusted) , total Estimated sales (seasonally adjusted), total mil. $. do... do... do. .. do. . . do. . . do.. . LABOR FORCE, EMPLOYMENT AND EARNINGS EMPLOYEES ON PAYROLLS OF NONAGRIC. ESTAB., SEAS. ADJ Private sector Nonmanufacturing industries Goods-producing Mining Contract construction Manufacturing Durable goods Nondurable goods Service-producing Transportation, communication, e l e c , gas, etc Wholesale and retail trade Wholesale trade Retail trade Finance, insurance, and real estate Services Government Federal State and local Production or nonsupervisory workers on payrolls of private nonagricultural establishments, seas, adj.: Employees, total thous . Manufacturing do.. . Durable goods do.. . Average weekly hours per worker, seasonally adjusted: Total private Contract construction Manufacturing Overtime hours Durable goods Overtime hours Hourly earnings index, product or nonsupervisory workers in the private economy, seas. adj.... Mining Contract construction Manufacturing Transportation, communication, electric, gas Wholesale and retail trade Finance, insurance, and real estate Services , , = =54 r/ Revised. 84,259 p_/ Preliminary. 1/ 1967=100. do.. . do... do. .. do... do... do. .. do. . . ? Data for Mar. 1977 are adva ice estimates. 3.1 10.7 MONTHLY BUSINESS STATISTICS—Continued 1976 1977 ITEM Feb. Dec. Feb. Mar. FINANCE AGRICULTURAL LOANS AND DISCOUNTS OUTSTANDING OF AGENCIES SUPERVISED BY THE FARM CREDIT ADM.: Total5 end of month. .mil. $ Farm mortgage loans: Federal land banks............. .do. . Loans to cooperatives.................................do.. Other loans and discounts............................. do.. 32,751 16,930 4,546 11,274 33,400 17,264 4,656 11,480 36,740 19,127 4,931 12,682 37,507 19,298 5,596 12,612 38,199 19,530 5,924 12,745 Bank debits to demand^ deposit accounts, except interbank and U.S. Govt, accounts, annual rates, seas, adj.: Total (233 SMSA's) .bil. $ New York SMSA ..........................do.. Total 232 SMSA's (except N.Y.) ......do.. 6 other leading SMSA's..............................do.. 226 other SMSA's . ...........................do.. 25,528.4 12,212.0 13,316.4 5,324.6 7,991.8 26,474.4 12,629.6 13,844.8 5,560.9 8,283.9 28,914.6 13,835.0 15,079.7 5,917.1 9,162.6 r29,286.7 14,411.8 rl4,874.9 5,864.3 r9,010.6 30,143.3 14,898.0 15,245.3 5,887.1 9,358.1 Turnover of demand deposits except interbank and U.S. Govt., annual rates, seasonally adjusted: Total (233 SMSA's) .ratio of debits to deposits New York SMSA. ...... .do.. Total 232 SMSA's (except N.Y.)........................do.. 6 other leading SMSA's..............................do.. 226 other SMSA's.. do.. 140.9 375.4 89.6 128.1 74.6 144.6 377.5 92.5 131.4 77.2 rl53.3 419.8 96.9 136.9 81.5 154.1 443.5 r94.5 rl33.9 r79.4 153.3 437.3 93.8 129.9 79.8 SECURITY MARKETS: STOCKS: Prices: Dow-Jones average (65 stocks)........................... Industrial (30 stocks) Public utility (15 stocks) Transportation (20 stocks) 297.84 971.70 89.27 203.17 301.60 988.55 86.88 207.80 317.03 976.86 105.33 232.43 317.79 970.62 108.88 232.67 308.93 941.77 107.49 227.29 309.63 946.11 106.48 225.94 New York Stock Exchange common stock indexes: Composite ... 12/31/65=50 Industrial do.. Transportation. .do.. Utility .do. . Finance do.. 53.73 59.79 38.53 36.12 52.06 54.01 61.30 39.17 35.43 52.61 56.34 61.54 41.77 40.61 57.45 56.28 61.26 41.93 41.13 57.86 54.93 59.65 40.59 40.86 55.65, 54.67 59.56 40.52 40.18 54.84 r_/ Revised. 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