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Appendix BSTATISTICAL TABLES RELATING TO INCOME,
EMPLOYMENT, AND PRODUCTION
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CONTENTS
NATIONAL INCOME OR EXPENDITURE:Page
B-l. Gross domestic product, 1959-92 348R-2. Gross domestic product in 1987 dollars, 1959-92 350B-3. Implicit price deflators for gross domestic product, 1959-92 352B-4. Changes in gross domestic product and personal consumption ex-
penditures, and related implicit price deflators and fixed-weighted price indexes, 1960-92 354
B-5. Selected per capita product and income series in current and1987 dollars, 1959-92 355
B-6. Gross domestic product by major type of product, 1959-92 356B-7. Gross domestic product by major type of product in 1987 dollars,
1959-92 357B-8. Gross domestic product by sector, 1959-92 358B-9. Gross domestic product by sector in 1987 dollars, 1959-92 359B-10. Gross domestic product of nonfinancial corporate business, 1959-
92 360B-ll. Output, costs, and profits of nonfinancial corporate business,
1959-92 361B-12. Personal consumption expenditures, 1959-92 362B-13. Personal consumption expenditures in 1987 dollars, 1959-92 363B-l4. Gross and net private domestic investment, 1959-92 364B-15. Gross and net private domestic investment in 1987 dollars, 1959-
92 365B-16. Inventories and final sales of domestic business, 1959-92 366B-17. Inventories and final sales of domestic business in 1987 dollars,
1959-92 367B-18. Foreign transactions in the national income and product ac-
counts, 1959-92 368B-19. Exports and imports of goods and services and receipts and pay-
ments of factor income in 1987 dollars, 1959-92 369B-20. Relation of gross domestic product, gross national product, net
national product, and national income, 1959-92 370B-21. Relation of national income and personal income, 1959-92 371B-22. National income by type of income, 1959-92 372B-23. Sources of personal income, 1959-92 374B-24. Disposition of personal income, 1959-92 376B-25. Total and per capita disposable personal income and personal
consumption expenditures in current and 1987 dollars, 1959-92 377B-26. Gross saving and investment, 1959-92 378B-27. Personal saving, flow of funds accounts, 1946-92 379B-28. Median money income (in 1991 dollars) and poverty status of
families and persons, by race, selected years, 1971-91 380
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POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY:Page
B-29. Population by age groups, 1929-92 381B-30. Population and the labor force, 1929-92 382B-31. Civilian employment and unemployment by sex and age, 1947-92 384B-32. Civilian employment by demographic characteristic, 1954-92 385B-33. Unemployment by demographic characteristics, 1954-92 386B-34. Civilian labor force participation rate and employment/popula-
tion ratio, 1948-92 387B-35. Civilian labor force participation rate by demographic character-
istic, 1954-92 388B-36. Civilian employment/population ratio by demographic character-
istic, 1954-92 389B-37. Civilian unemployment rate, 1948-92 390B-38. Civilian unemployment rate by demographic characteristic,
1950-92 391B-39. Unemployment by duration and reason, 1948-92 392B-40. Unemployment insurance programs, selected data, 1960-92 393B-41. Employees on nonagricultural payrolls, by major industry, 1946-
92 394B-42. Hours and earnings in private nonagricultural industries and
hourly compensation in the total economy, 1959-92 396B-43. Employment cost index, private industry, 1979-92 397B-44. Productivity and related data, business sector, 1959-92 398B-45. Changes in productivity and related data, business sector, 1960- 399
92
PRODUCTION AND BUSINESS ACTIVITY:
B-46. Industrial production indexes, major industry divisions, 1947-92 .. 400B-47. Industrial production indexes, market groupings, 1947-92 401B-48. Industrial production indexes, selected manufactures, 1947-92 402B-49. Capacity utilization rates, 1948-92 403B-50. New construction activity, 1929-92 404B-51. New housing units started and authorized, 1959-92 406B-52. Business expenditures for new plant and equipment, 1947-93 407B-53. Manufacturing and trade sales and inventories, 1950-92 408B-54. Manufacturers' shipments and inventories, 1950-92 409B-55. Manufacturers' new and unfilled orders, 1950-92 410
PRICES:
B-56. Consumer price indexes for major expenditure classes, 1950-92 411B-57. Consumer price indexes for selected expenditure classes, 1950-92. 412B-58. Consumer price indexes for commodities, services, and special
groups, 1950-92 414B-59. Changes in special consumer price indexes, 1958-92 415B-60. Changes in consumer price indexes for commodities and services,
1929-91 , 416B-61. Producer price indexes by stage of processing, 1947-92 417B-62. Producer price indexes by stage of processing, special groups,
1974-92 419B-63. Producer price indexes for major commodity groups, 1950-92 420B-64. Changes in producer price indexes for finished goods, 1955-92 422
344Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE:Page
B-65. Money stock, liquid assets, and debt measures, 1959-92 423B-66. Components of money stock measures and liquid assets, 1959-92.. 424B-67. Aggregate reserves of depository institutions and monetary base,
1959-92 426B-68. Commercial bank loans and securities, 1972-92 427B-69. Bond yields and interest rates, 1929-92 428B-70. Total funds raised in credit markets by nonfinancial sectors,
1983-92 430B-71. Mortgage debt outstanding by type of property and of financing,
1940-92 432B-72. Mortgage debt outstanding by holder, 1940-92 433B-73. Consumer credit outstanding, 1950-92 434
GOVERNMENT FINANCE:B-74. Federal receipts, outlays, surplus or deficit, and debt, selected
fiscal years, 1929-93 435B-75. Federal receipts, outlays, and debt, fiscal years 1981-93 436B-76. Federal budget receipts, outlays, surplus or deficit, and debt, as
percentages of gross domestic product, 1934-93 438B-77. Federal and State and local government receipts and expendi-
tures, national income and product accounts, 1959-92 439B-78. Federal and State and local government receipts and expendi-
tures, national income and product accounts, by major type,1959-92 440
B-79. Federal Government receipts and expenditures, national incomeand product accounts, 1976-92 441
B-80. State and local government receipts and expenditures, nationalincome and product accounts, 1959-92 442
B-81. State and local government revenues and expenditures, selectedfiscal years, 1927-91 443
B-82. Interest-bearing public debt securities by kind of obligation,1967-92 444
B-83. Maturity distribution and average length of marketable interest-bearing public debt securities held by private investors, 1967-92 445
B-84. Estimated ownership of public debt securities by private inves-tors, 1976-92 446
CORPORATE PROFITS AND FINANCE:B-85. Corporate profits with inventory valuation and capital consump-
tion adjustments, 1959-92 447B-86. Corporate profits by industry, 1959-92 448B-87. Corporate profits of manufacturing industries, 1959-92 449B-88. Sales, profits, and stockholders' equity, all manufacturing corpo-
rations, 1950-92 450B-89. Relation of profits after taxes to stockholders' equity and to
sales, all manufacturing corporations, 1947-92 451B-90. Sources and uses of funds, nonfarm nonfinancial corporate busi-
ness, 1947-92 452B-91. Common stock prices and yields, 1955-92 453B-92. Business formation and business failures, 1950-92 454
345
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AGRICULTURE:B-93. Farm income, 1940-92 455B-94. Farm output and productivity indexes, 1947-91 456B-95. Farm input use, selected inputs, 1947-91 457B-96. Indexes of prices received and prices paid by farmers, 1950-92 458B-97, U.S. exports and imports of agricultural commodities, 1940-92 459B-98. Balance sheet of the farm sector, 1939-92 460
INTERNATIONAL STATISTICS:B-99. International investment position of the United States at year-
end, 1983-91 461B-100. U.S. International transactions, 1946-92 462B-101. U.S. merchandise exports and imports by principal end-use cate-
gory, 1965-92 464B-102. U.S. merchandise exports and imports by area, 1983-92 465B-103. U.S. merchandise exports, imports, and trade balance, 1972-92 466B-104. International reserves, selected years, 1952-92 467B-105. Industrial production and consumer prices, major industrial
countries, 1967-92 468B-106. Civilian unemployment rate, and hourly compensation, major in-
dustrial countries, 1965-92 469B-107. Foreign exchange rates, 1967-92 470B-108. Growth rates in real gross national product/gross domestic prod-
uct, 1971-91 471
NATIONAL WEALTH:
B-109. National wealth, 1960-91 472B-110. National wealth in 1987 dollars, 1960-91 473
SUPPLEMENTARY TABLE:B-l l l . Selected historical series on gross domestic product and related
series, 1929-58 474
346
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General Notes
Detail in these tables may not add to totals because of rounding.Unless otherwise noted, all dollar figures are in current dollars.Symbols used:
p Preliminary.Not available (also, not applicable).
Data in these tables reflect revisions made by the source agencies fromJanuary 1992 through early January 1993.
Historical data for the national income and product accounts (NIPA) tablesfor 1929-58 were not available in time for inclusion in these tables. ASupplementary Table (Table B-lll) has been added that contains data forselected NIPA series for those years. See Survey of Current Business,December 1992.
347
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NATIONAL INCOME OR EXPENDITURE
TABLE B-l.—Gross domestic product, 1939-92
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
199019911982:1V1983: IV1984: IV1985: IV1986: IV1987: IV...1988: IV
1989:1IIIllIV
1990:1IIIllIV....
1991:1IIIllIV
1992:1IIIll
Grossdomesticproduct
494.2
513.4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.6
1,585.91,768.41,974.12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,250.8
5,522.25,677.5
3,195.13,547.33,869.14,140.54,336.64,683.05,044.6
5,150.05,229.55,278.95,344.8
5,445.25,522.65,559.65,561.3
5,585.85,657.65,713.15,753.3
5,840.25,902.25,978.5
Personal consumption expenditures
Total
318.1
332.4343.5364.4384.2412,5
444.6481.6509.3559.1603.7
646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.7
1,748.11,926.22,059.22,257.52,460.3
2,667.42,850.63,052.23,296.13,523.1
3,748.43,887.7
2,128.72,346.82,526.42,739.82,923.13,124.63,398.2
3,440.83,499.13,553.33,599.1
3,672.43,715.33,787.83,818.2
3,821.73,871.93,914.23,942.9
4,022.84,057.14,108.7
Durablegoods
Non-durablegoods
Services
42.8
43.541.947.051.856.8
63.5 [68.570.681.086.2
85.397.2
110.7124.1123.0
134.3160.0182.6202.3214.2
212.5228.5236.5275.0317.9
352.9389.6403.7437.1459.4
464.3446.1
246.9297.7328.2354.4406.8408.8452.9
450.8457.6470.8458.3
478.0463.5463.0452.7
439.5441.4453.0450.4
469.4470.6482.5
148.51 126.8
153.1157.4163.8169.4179.7
191.9208.5216.9235.0252.2
270.4283.3305.2339.6380.8
416.0451.8490.4541.5613.3
682.9744.2772.3817.8873.0
919.4952.2
1,011.11,073.81,149.5
1,224.51,251.5
787.3839.8887.8939.5963.7
1,029.41,105.8
1,121.11,146.51,157.11,173.5
1,199.31,208.71.235.31,254.5
1,245.01,254.21,255.31,251.4
1,274.11,277.51,292.8
135.9144.1153.6163.1175.9
189.2204.6221.7243.1265.3
290.8319.8351.9384.5423.9
474.5531.2598.4677.4756.2
852.7953.5
1,050.41,164.71,269.4
1,395.11,508.81,637.41,785.21,914.2
2,059.72,190.1
1,094.61,209.31,310.41,446.01,552.61,686.41,839.5
1,868.81,895.11,925.41,967.3
1,995.02,043.12,089.62,111.1
2,137.22,176.32,205.92,241.1
2,279.32,309.02,333.3
Gross private domestic investment
Total
Fixed investment
Nonresidential
Total
78.8
78.777.987.993.4
101.7
118.0130.4128.0139.9155.2
150.3175.5205.6243.1245.8
226.0286.4358.3434.0480.2
467.6558.0503.4546.7718.9
714.5717.6749.3793.6832.3
799.5721.1
464.2614.8722.8737.0697.1800.2814.8
843.9840.3819.6825.2
820.3833.0805.7739.0
705.4710.2732.8736.1
722.4773.2781.6
74.6
75.575.081.887.796.7
108.3116.7117.6130.8145.5
148.1167.5195.7225.4231.5
231.7269.6333.5406.1467.5
477.1532.5519.3552.2647.8
689.9709.0723.0777.4798.9
793.2731.3
510.5594.6671.8704.4715.9740.9797.5
800.2800.5800.0795.0
812.2795.3795.3770.0
733.9732.0732.6726.9
738.2765.1766.6
Total
46.5
49.248.652.855.662.4
74.184.485.292.1
102.9
106.7111.7126.1150.0165.6
169.0187.2223.2274.5326.4
353.8410.0413.7400.2468.9
504.0492.4497.8545.4568.1
577.6541.1
397.7426.9491.5511.3491.7514.3560.2
563.4568.4571.5568.8
580.1572.1585.2572.9
551.4545.8538.4528.7
531.0550.3549.6
Struc-tures
18.1
19.619.720.821.223.7
28.331.331.533.637.7
40.342.747.255.061.2
61.465.974.693.9
118.4
137.5169.1178.8153.1175.6
193.4174.0171.3182.0193.3
201.1180.1
168.9154.6184.1195.4168.4180.0186.8
190.2189.6195.5198.0
202.4201.5204.1196.3
190.0185.2175.6169.7
170.1170.3166.1
Pro-ducers'durableequip-ment
28.3
29.728.932.134.438.7
45.853.053.758.565.2
66.469.178.995.1
104.3
107.6121.2148.7180.6208.1
216.4240.9234.9247.1293.3
310.6318.4326.5363.4374.8
376.5360.9
228.8272.3307.3315.9323.3334.3373.4
373.3378.8376.1370.8
377.6370.6381.0376.6
361.4360.6362.8358.9
360.8380.0383.5
Resi-dential
28.1
26.326.429.032.134.3
34.232.332.438.742.6
41.455.869.775.366.0
62.782.5
110.3131.6141.0
123.3122.5105.7152.0178.9
185.9216.6225.2232.0230.9
215.6190.3
112.8167.7180.4193.1224.2226.5237.3
236.8232.1228.5226.2
232.1223.1210.1197.1
182.6186.2194.2198.2
207.2214.8217.0
Changein
busi-ness
inven-tories
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
- 5 . 716.724.727.912.8
- 9 . 525.4
-15.9- 5 . 571.1
24.68.6
26.316.233.3
6.3-10.2
-46 .320.251.032.6
-18 .859.317.3
43.739.819.630.2
8.137.710.4
-31 .0
-28 .5-21 .8
9.2
-15 .88.1
15.0
See next page for continuation of table.
348
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TABLE B-l.—Gross domestic product, 1959-92—Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Net exports of goods andservices1
Netexports
- 1 . 7
2.43.42.43.35.5
3.91.91.4
- 1 . 3-1 .2
1.2-3 .0-8 .0
.6- 3 . 1
13.6- 2 . 3
-23.7-26.1-23.8
-14.7-14.7-20.6-51.4
-102.7
-115.6-132.5-143.1-108.0
-79.7
-68.9-21.8
-29.5-71.8
-107.1-135.5-133.2-143.2-106.0
-85.1-80.1-79.7-73.9
-72 .1-59.9-76.3-67.2
-28.7-15 .3-27.1-16.0
- 8 . 1-37.1-36.0
Exports
20.6
25.326.027.429.433.6
35.438.941.445.349.3
57.059.366.291.8
124.3
136.3148.9158.8186.1228.9
279.2303.0282.6276.7302.4
302.1319.2364.0444.2508.0
557.0598.2
265.6286.2308.7304.7333.9392.4467.0
489.7509.5509.0523.8
541.2551.2555.9579.7
573.2594.3602.3622.9
628.1625.4639.0
Imports
22.3
22.822.725.026.128.1
31.537.139.946.650.5
55.862.374.291.2
127.5
122.7151.1182.4212.3252.7
293.9317.7303.2328.1405.1
417.6451.7507.1552.2587.7
625.9620.0
295.1358.0415.7440.2467.1535.6573.1
574.9589.6588.7597.7
613.3611.2632.2646.9
602.0609.6629.5638.9
636.2662.5675.0
Government purchases
Total
99.0
99.8107.0116.8122.3128.3
136.3155.9175.6191.5201.8
212.7224.3241.5257.7288.3
321.4341.3368.0403.6448.5
507.1561.1607.6652.3700.8
772.3833.0881.5918.7975.2
1,043.21,090.5
631.6657.6727.0799.2849.7901.4937.6
950.4970.2985.6994.5
1,024.71,034.31,042.41,071.3
1,087.51,090.81,093.31,090.3
1,103.11,109.11,124.2
Federal
Total
57.1
55.358.665.466.467.5
69.581.392.899.2
100.5
100.1100.0106.9108.5117.6
129.4135.8147.9162.2179.3
209.1240.8266.6292.0310.9
344.3367.8384.9387.0401.6
426.4447.3
281.4289.7324.7356.9373.1392.5392.0
392.3401.6407.3405.1
420.3424.4422.6438.3
451.3449.9447.2440.8
445.0444.8455.2
Nation-al
defense
46.4
45.347.952.151.550.4
51.062.073.479.178.9
76.874.177.477.582.6
89.693.4
100.9108.9121.9
142.7167.5193.8214.4233.1
258.6276.7292.1295.6299.9
314.0323.8
205.5222.8242.9268.6278.6295.8296.8
293.5298.2305.3302.5
311.6312.9308.4323.2
332.4325.9321.9314.7
313.6311.7319.6
Non-de-
fense
10.8
10.010.613.314.917.0
18.519.319.420.021.6
23.325.929.431.135.0
39.842.447.053.357.5
66.473.372.777.577.8
85.791.192.991.4
101.7
112.4123.6
75.966.981.988.394.596.795.2
98.7103.4101.9102.6
108.7111.5114.3115.0
118.8124.0125.3126.1
131.4133.1135.7
Stateandlocal
41.8
44.548.451.455.860.9
66.874.682.792.3
101.3
112.6124.3134.7149.2170.7
192.0205.5220.1241.4269.2
298.0320.3341.1360.3389.9
428.1465.3496.6531.7573.6
616.8643.2
350.3367.9402.2442.4476.6509.0545.7
558.1568.6578.4589.3
604.3610.0619.7633.0
636.3640.8646.0649.5
658.0664.3669.0
Finalsales ofdomes-
ticproduct
490.0
510.1528.9565.5597.5643.0
693.0756.0803.8880.2949.8
1,008.41,089.21,197.11,331.91,444.4
1,591.51,751.71,949.42,204.82,475.9
2,717.53,005.23,165.53,410.63,706.1
4,014.14,260.04,513.74,884.25,217.5
5,515.95,687.7
3,241.43,527.13,818.14,107.94,355.44,623.75,027.3
5,106.25,189.75,259.35,314.6
5,437.15,484.95,549.25,592.3
5,614.45,679.45,712.95,744.2
5,855.95,894.15,963.5
Grossdomes-tic pur-chases 2
495.8
510.9528.4569.2599.8642.5
698.8767.9812.9890.6960.7
1.009.51,100.21,215.01,349.01,461.8
1,572.31,770.71,997.82,258.82,512.5
2,722.83,045.33,170.23,456.53,879.9
4,154.34,401.24,683.05,008.45,330.5
5,591.15,699.3
3,224.63,619.13,976.24,276.04,469.84,826.25,150.7
5,235.15,309.65,358.65,418.7
5,517.45,582.65,635.95,628.5
5,614.65,672.95,740.35,769.3
5,848.35,939.46,014.5
Adden-dum:Gross
nation-al
prod-uct 3
497.0
516.6535.4575.8607.7653.0
708.1774.9819.8895.5965.6
1,017.11,104.91,215.71,362.31,474.3
1,599.11,785.51,994.62,254.52,520.8
2,742.13,063.83,179.83,434.43,801.5
4,053.64,277.74,544.54,908.25,266.8
5,542.95,694.9
3,222.63,578.43,890.24,156.24,340.54,690.55,054.3
5,164.05,243.35,294.75,365.0
5,464.15,537.05,577.85,592.7
5,614.95,674.35,726.45,764.1
5,859.85,909.35,992.0
Percent changefrom preceding
period
Grossdomes-
ticproduct
8.7
3.93.67.55.57.4
8.49.55.89.27.9
5.38.6
10.011.88.1
8.711.511.613.111.5
8.811.93.98.1
10.9
6.95.76.47.97.2
5.22.8
8.66.33.85.1
7.75.82.7
.1
1.85.24.02.8
6.24.35.3
Grossdomestic
pur-chases 2
9.1
3.03.47.75.47.1
8.89.95.99.67.9
5.19.0
10.411.08.4
7.612.612.813.111.2
8.411.84.19.0
12.2
7.15.96.46.96.4
4.91.9
6.75.83.74.6
7.54.83.9
- . 5
- 1 . 04.24.82.0
5.66.45.2
1 Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.3 GDP plus net receipts of factor income from rest of the world.
Source: Department of Commerce, Bureau of Economic Analysis.
349
334-230 O—92 12 (QL3)Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross domestic product in 1987 dollars, 1959-92
[Billions of 1987 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
Grossdomesticproduct
Personal consumptionexpenditures
TotalDurablegoods
Non-durablegoods
Services
Gross private domestic investment
Total
Fixed investment
Total
Nonresidential
Total Struc-tures
Pro-ducers'durableequip-ment
Resi-dential
Changein
busi-nessinven-tories
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
1990
1991
1982: IV1983:IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989: I
IV..
1990: I....II...III..IV..
1991: III...III..IV..
1992:I
1,928.8
1,970.82,023.82,128.12,215.62,340.6
2,470.52,616.22,685.22,796.92,873.0
2,873.92,955.93,107.13,268.63,248.1
3,221.73,380.83,533.33,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,539.94,718.64,838.0
4,877.54,821.0
3,759.64,012.14,194.24,333.54,427.14,625.54,779.7
4,817.64,839.04,839.04,856.7
4,890.84,902.74,882.64,833.8
4,796.74,817.14,831.84,838.5
4,873.74,892.44,933.7
1,178.9
1,210.81,238.41,293.31,341.91,417.2
1,497.01,573.81,622.41,707.51,771.2
1,813.51,873.71,978.42,066.72,053.8
2,097.52,207.32,296.62,391.82,448.4
2,447.12,476.92,503.72,619.42,746.1
2,865.82,969.13,052.23,162.43,223.3
3,260.43,240.8
2,539.32,678.22,784.82,895.33,012.53,074.73,202.9
3,203.63,212.23,235.33,242.0
3,259.53,260.13,273.93,248.0
3,223.53,239.33,251.23,249.0
3,289.33,288.53,318.4
114.4
115.4109.4120.2130.3140.7
156.2166.0167.2184.5190.8
183.7201.4225.2246.6227.2
226.8256.4280.0292.9289.0
262.7264.6262.5297.7338.5
370.1402.0403.7428.7440.7
439.3414.7
272.3319.1347.7369.6415.7404.7439.2
435.2440.2450.6436.8
453.5439.2437.7426.6
412.0411.3419.4416.1
432.3430.0439.8
518.5
526.9537.7553.0563.6588.2
616.7647.6659.0686.0703.2
717.2725.6755.8777.9759.8
767.1801.3819.8844.8862.8
860.5867.9872.2900.3934.6
958.7991.0
1,011.11,035.11,051.6
1,056.51,042.4
880.7915.2942.9968.7
1,000.91,014.61,046.8
1,048.11,047.01,052.61,058.9
1,058.31,057.11,059.11,051.6
1,043.01,046.31,044.81,035.6
1,049.61,045.61,052.0
546.0
568.5591.3620.0648.0688.3
724.1760.2796.2837.0877.2
912.5946.7997.4
1,042.21,066.8
1,103.61,149.51,196.81,254.11,296.5
1,323.91,344.41,368.91,421.41,473.0
1,537.01,576.11,637.41,698.51,731.0
1,764.61,783.7
1,386.21,443.91,494.21,557.11,595.81,655.51,716.9
1,720.31,725.11,732.21,746.3
1,747.71,763.71,777.11,769.8
1,768.51,781.81,787.01,797.4
1,807.31,812.91P?66
296.4
290.8289.4321.2343.3371.8
413.0438.0418.6440.1461.3
429.7475.7532.2591.7543.0
437.6520.6600.4664.6669.7
594.4631.1540.5599.5757.5
745.9735.1749.3773.4784.0
739.1661.1
503.5669.5756.4763.1705.9793.8785.0
802.9794.5769.0769.5
763.0770.2743.1680.0
646.0649.5672.0676.9
668.9713.6724.9
282.8
282.7282.2305.6327.3356.2
387.9401.3391.0416.5436.5
423.8454.9509.6554.0512.0
451.5495.1566.2627.4656.1
602.7606.5558.0595.1689.6
723.8726.5723.0753.4754.2
732.9670.4
548.4640.2708.4732.9725.9733.9764.1
761.7757.5753.1744.6
755.4737.4732.0706.8
671.1669.8671.4669.3
681.4705.9710.0
165.2
173.3172.1185.0192.3214.0
250.6276.7270.8280.1296.4
292.0286.8311.6357.4356.5
316.8328.7364.3412.9448.8
437.8455.0433.9420.8490.2
521.8500.3497.8530.8540.0
538.1500.2
417.2449.6509.6525.5495.5510.6538.8
539.5542.2541.8536.7
544.8535.6542.9529.3
507.0503.0498.7492.1
495.8514.7518.7
74.4
82.386.186.995.9
111.5119.1116.0117.4123.5
123.3121.2124.8134.9132.3
118.0120.5126.1144.1163.3
170.2182.9181.3160.3182.8
197.4176.6171.3174.0177.6
179.1157.6
173.2162.6189.5198.3170.4177.9175.7
177.0174.7178.8179.8
182.0180.1181.2173.2
166.8162.2153.0148.4
149.4149.1144.7
90.8
92.589.898.9
105.4118.1
139.1157.6154.8162.7172.9
168.7165.6186.8222.4224.2
198.8208.2238.2268.8285.5
267.6272.0252.6260.5307.4
324.4323.7326.5356.8362.5
359.0342.6
244.0287.0320.1327.2325.0332.7363.1
362.4367.5363.0356.9
362.8355.5361.7356.1
340.2340.8345.8343.7
346.4365.6374.0
117.6
109.4110.1120.6135.0142.1
137.3124.5120,2136.4140.1
131.8168.1198.0196.6155.6
134.7166.4201.9214.5207.4
164.8151.6124.1174.2199.3
202.0226.2225.2222.7214.2
194.8170.2
131.2190.6198.8207.4230.5223.3225.3
222.2215.4211.2208.0
210.7201.8189.1177.5
164.1166.9172.6177.3
185.6191.2191.3
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
- 8 . 324.6
-17 .54.4
67.9
22.18.5
26.319.929.8
6.2- 9 . 3
-44.929.347.930.2
-20 .159.920.9
41.236.916.024.9
7.532.811.2
-26.8
-25.1-20.4
.67.5
-12.67.8
15.0
See next page for continuation of table.
350
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross domestic product in 1987 dollars, 1959-92—Continued
[Billions of 1987 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989: 1IIIllIV
1990: IIIIllIV
1991: 1IIIllIV
1992: IIIIll
Net exports of goods andservices 1
Netexports
218
- 7 . 6- 5 . 5
-10.5- 5 . 8
25
- 6 . 418 0
-23.7-37.5-41.5
-35.2-45.9-56.5-34.1
- 4 . 1
23.1- 6 . 4
-27.8-29.9-10.6
30.722.0
- 7 . 4-56.1
-122.0
-145.3-155.1-143.1-104.0
73 7
-51 .8-21.8
-19.0-83.7
-131.4-155.4-156.0-136.0-102.7
-79.8-70.0-77 .5-67.4
-58.4-56.9-59.3-32.7
-17.9-17.4-31.6-20 .5
-21.5-43.9-52.7
Exports
73 8
88.489.995.0
101.81154
118.1125 7130.0140.2147.8
161.3161.9173.7210.3234.4
232.9243.4246.9270.2293.5
320.5326.1296.7285.9305.7
309.2329.6364.0421.6471 8
510.0539.4
280.4291.5312.8312.0342.9386.1438.2
454.5472.0472.9487.7
500.2508.7508.4522.6
515.9536.1544.2561.4
565.4563.4575.9
Imports
95 6
96.195.3
105.5107.7112 9
124.5143 7153.7177.7189.2
196.4207.8230.2244.4238.4
209.8249.7274.7300.1304.1
289.9304.1304.1342.1427.7
454.6484.7507.1525.7545 4
561.8561.2
299.4375.1444.2467.4498.9522.1540.9
534.3541.9550.5555.0
558,6565.6-567.7555.3
533.8553.5575.8581.8
586.8607.3628.6
Government purchases
Total
475 3
476.9501.5524.2536.3549 1
566.9622 4667.9686.8682.0
665.8652.4653.0644.2655.4
663.5659.2664.1677.0689.3
704.2713.2723.6743.8766.9
813.4855.4881.5886.8904 4
929.9941.0
735.9748.1784.3830.5864.8893.0894.5
890.8902.3912.2912.6
926.8929.4924.8938.5
945.1945.6940.2933.1
937.0934.2943.0
Federal
Total
265 7
259.0270.1287.3285.7281.8
282.1319 3350.9353.1340 1
315.0290.8284.4265.3262.6
262.7258.2263.1268.6271.7
284.8295.8306.0320.8331.0
355.2373.0384.9377.33761
383.6388.3
316.0322.2341.7363.7377.5391.6378.4
370.1376.9381.5376.1
383.4385.4378.3387.3
394.1393.8387.2378.2
375.3372.7379.5
Nation-al
de-fense
"209"6"191.3185.8
184.9179.9181.6182.1185.1
194.2206.4221.4234.2245.8
265.6280.6292.1287.02814
283.3282.8
229.4242.9254.3272.1282.2295.0285.7
276.7280.4286.9281.5
284.9285.1277.3285.8
291.8287.6280.6271.0
265.6262.1267.4
Non-de-
fense
74"874.176.8
77.878.381.486.586.6
90.689.484.786.685.1
89.592.492.990.294 8
100.3105.5
86.679.387.491.695.396.692.7
93.496.594.594.7
98.5100.3101.0101.5
102.2106.2106.6107.2
109.7110.6112.1
Stateandlocal
209 6
217.9231.4236.9250.6267 3
284.8303.1317.0333.73419
350.9361.6368.6378.9392.9
400.8401.1401.0408.4417.6
419.4417.4417.6423.0436.0
458.2482.4496.6509.6528 3
546.3552.7
419.9425.9442.6466.7487.3501.4516.1
520.7525.4530.7536.5
543.4544.0546.5551.2
551.0551.8553.0554.9
561.8561.5563.5
Finalsales ofdomes-
ticproduct
1915 2
1,962.72,016.62,112.52,199.62 324 9
2,445.42,579.52,657.52,773.22 848 2
2,868.02,935.23,084.53,230.93,217.2
3,235.63,355.33,499.03,666.33,783.2
3,784.63,818.63,777.83,902.24,080.6
4,257.64,395.94,513.74,698.64 808 3
4,871.34,830.3
3,804.53,982.84,146.24,303.34,447.24,565.64,758.7
4,776.34,802.04,823.04,831.8
4,883.34,870.04,871.44,860.6
4,821.84,837.44,831.24,830.9
4,886.34,884.64,918.7
Grossdomes-tic pur-chases 2
1950 6
1,978.52,029.32,138.62,221.42 3381
2,476.92,634.22,708.92,834.42 914.5
2,909.13,001.83,163.63,302.73,252.2
3,198.63,387.13,561.13,733.33,807.4
3,745.73,821.23,767.73,962.84,270.5
4,425.14,559.64,683.04,822.64 911 7
4,929.34,842.8
3,778.64,095.84,325.54,488.94,583.14,761.54,882.4
4,897.34,908.94,916.54,924.1
4,949.24,959.74,941.94,866.5
4,814.64,834.44,863.44,858.9
4,895.24,936.34,986.4
Adden-dum-.Gross
nation-al
prod-uct3
1939 6
1,982.82,037.12,143.32,231.82,358 1
2,488.92,633.22,702.62,815.62,890.9
2,891.52,975.93,128.83,298.63,282.4
3,247.63,412.23,569.03,739.03,845.3
3,823.43,884.43,796.13,939.64,174.5
4,295.04,413.54,544.54,726.34 852 7
4,895.94,836.4
3,791.74,046.64,216.44,349.54,430.84,633.04,789.0
4,830.74,851.64,853.44,875.1
4,907.84,915.54,898.94,861.4
4,822.04,831.84,843.74,848.2
4,890.74,899.14,945.6
Percent changefrom preceding
pe.iod
Grossdomes-
ticprod-uct
55
2.22.75.24.156
5.55.92.64.227
.02.95.15.2
- . 6
- . 84.94.54.82.5
- . 51.8
-2 .23.96.2
3.22.93.13.925
.8- 1 2
3.21.8.0
1.5
2.81.0
- 1 . 6- 3 . 9
-3 .01.71.2.6
2.91.53.4
Grossdomestic
pur-chases 2
58
1.42.65.43.953
5.96.42.84.62.8
- . 23.25.44.4
- 1 . 5
- 1 . 65.95.14.82.0
- 1 . 62.0
- 1 . 45.27.8
3.63.02.73.018
.4- 1 8
1.21.0.6.6
2.1.9
-1 .4- 6 . 0
-4 .21.72.4
- . 4
3.03.44.1
1 Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.3 GDP plus net receipts of factor income from rest of the world.Source: Department of Commerce, Bureau of Economic Analysis.
351
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross domestic product, 1959-92
[Index numbers, 1987=100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1959
I9601961196219631964 , .
1965196619671968 .1969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982 IV1983 IV1984 IV1985 IV1986 IV1987 IV1988 IV
1989 1IIIIIIV
1990 1IIIIIIV
1991 1IIIIIIV
1992 1IIIII
Grossdomesticproduct
25 6
26 026.326 927.227 7
28.429.430.331.833.4
35.237.138.841.344.9
49.252.355.960.365.5
71.778.983.887.291.0
94.496.9
100.0103.9108.5
113.2117.8
85.088.492.395.598.0
101.2105.5
106.9108.1109.1110.1
111.3112.6113.9115.0
116.5117.5118.2118.9
119.8120.6121.2
1
Total
27 0
27 527.728 228.6291
29.730.631.432.734.1
35.637.438.841.045.2
48.951.855.459.464.7
71.477.882.286.289.6
93.196.0
100.0104.2109.3
115.0120.0
83.887.690.794.697.0
101.6106.1
107.4108.9109.8111.0
112.7114.0115.7117.6
118.6119.5120.4121.4
122.3123.4123.8
'ersonal consumptionexpenditures
Durablegoods
37 4
37 738.339139.740 4
40.641.342.343.945.2
46.448.349.250.354.1
59.262.465.269.174.1
80.986.490.192.493.9
95.496.9
100.0102.0104.2
105.7107.6
90.693.394.495.997.8
101.0103.1
103.6104.0104.5104.9
105.4105.5105.8106.1
106.7107.3108.0108.3
'08.6109.4109.7
Non-durablegoods
28 6
29129.329.630.130.5
31.132.232.934.335.9
37.739.040.443.750.1
54.256.459.864.171.1
79.485.788.690.893.4
95.996.1
100.0103.7109.3
115.9120.1
89.491.894.297.096.3
101.5105.6
107.0109.5109.9110.8
113.3114.3116.6119.3
119.4119.9120.2120.8
121.4122.2122.9
Services
23 2
23 924.424.825.225.6
26.126.927.829.030.2
31.933.835.336.939.7
43.046.250.054.058.3
64.470.976.781.986.2
90.895.7
100.0105.1110.6
116.7122.8
79.083.787.792.997.3
101.9107.1
108.6109.9111.2112.7
114.2115.8117.6119.3
120.8122.1123.4124.7
126.1127.4127.7
Fixed investment
Total
264
26 726.626.826.827.1
27.929.130.131.433.3
34.936.838.440.745.2
51.354.558.964.771.2
79.287.893.192.893.9
95.397.6
100.0103.2105.9
108.2109.1
93.192.994.896.198.6
101.0104.4
105.1105.7106.2106.8
107.5107.8108.7108.9
109.4109.3109.1108.6
108.3108.4108.0
Nonresidential
Total
281
28 428.228 628.929.2
29.630.531.532.934.7
36.539.040.542.046.4
53.356.961.366.572.7
80.890.195.395.195.7
96.698.4
100.0102.8105.2
107.3108.2
95.395.096.497.399.2
100.7104.0
104.4104.8105.5106.0
106.5106.8107.8108.2
108.7108.5108.0107.4
107.1106.9106.0
Struc-tures
24 4
24 224.024124.424 7
25.426.327.228.630.5
32.735.237.840.746.3
52.054.759.265.272.5
80.892.598.695.596.1
98.098.5
100.0104.6108.9
112.3114.3
97.595.197.298.598.8
101.2106.3
107.4108.6109.3110.1
111.2111.9112.7113.3
113.9114.2114.8114.4
113.9114.2114.9
Pro-ducers'
dur-able
equip-ment
312
32132.232 432.632 8
32.933.634.736.037.7
39.441.742.242.746.5
54.158.262.467.272.9
80.988.593.094.895.4
95.798.4
100.0101.9103.4
104.9105.4
93.894.996.096.599.5
100.5102.8
103.0103.1103.6103.9
104.1104.3105.3105.7
106.2105.8104.9104.5
104.2103.9102.5
Residen-tial
23 9
24 024.024 023.824 1
24.925.926.928.430.4
31.433.235.238.342.4
46.649.654.661.368.0
74.880.985.287.389.7
92.095.8
100.0104.2107.8
110.7111.8
86.088.090.793.197.3
101.5105.3
106.5107.8108.2108.8
110.2110.6111.1111.0
111.3111.6112.5111.8
111.7112.3113.4
See next page for conunuauon of rao/e.
352
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross domestic product, 1959-92—Continued
[Index numbers, 1987 = 100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985 .1986198719881989
19901991
1982: IV1983 IV ...1984- IV1985: IV1986: IV1987: IV1988: IV
1989-1IIIllIV .. .
1990:1IIIll .IV
1991:1....:IIIllIV
1992:1IIIII
Exports andimports of goods
and services1
Exports
28 0
28 629.028 928.9291
30 031.031.832 333.3
35.336.638.143.653.0
58.561.264.368.978.0
87.192 995.296.898.9
97.796.9
100.0105 3107.7
109.2110.9
94.798.298 797.797.4
101.6106.6
107.8107.9107.6107.4
108.2108.4109 3110.9
111.1110.9110.7111.0
111.11110111.0
Imports
23 4
23 823.823 724.324 9
25 325.826.026 226.7
28.430.032.237.353.5
58.560.566.470.783.1
101.4104 599.795.994.7
91.993.2
100.0105 1107.8
111.4110.5
98.595.493 694.293.6
102.6106.0
107.6108.8106.9107.7
109.8108.01114116.5
112.8110.1109.3109.8
108.4109 1107.4
Government purchases
Total
20.8
20.921.322 322.823 4
24 025.026.327 929.6
31.934.437.040.044.0
48.451.855.459.665.1
72.078 784.087.791.4
95.097.4
100.0103 6107.8
112.2115.9
85.887.992 796.298.3
100.9104.8
106.7107.5108.1109.0
110.6111.3112 7114.1
115.1115.4116.3116.9
117.7118 7119.2
Federal
Total
215
21.321.722 823.323 9
24.625.526.528129.6
31.834.437.640.944.8
49.352.656.260.466.0
73.481487.191.093.9
96.998.6
100.0102 6106.8
111.2115.2
89.089.995 098.198.8
100.2103.6
106.0106.6106.8107.7
109.6110.1111 7113.2
114.5114.3115.5116.6
118.6119 3120.0
Nationaldefense
36.940.544.5
48.551.955.659.865.8
73.581 187.691.694.8
97.398.6
100.0103 0106.6
110.8114.5
89.691.795 598.798.7
100.3103.9
106.1106.4106.4107.5
109.4109.71112113.1
113.9113.3114.7116.2
118.11189119.5
Non-defense
39.341.945.5
51.254.157.761.766.4
73.382185.989.591.3
95.798.6
100.0101 4107.3
112.0117.1
87.784.393 796.499.2
100.1102.6
105.8107.1107.8108.4
110.4111.2113 2113.3
116.2116.8117.6117.6
119.8120 3121.0
Stateandlocal
19.9
20.420.921722.322.8
23.524.626.111129.6
32.134.436.539.443.5
47.951.254.959.164.5
71.176 781.785.289.4
93.496.4
100.0104 3108.6
112.9116.4
83.486.490 994.897.8
101.5105.7
107.2108.2109.0109.9
111.2112.1113 4114.8
115.5116.1116.8117.1
117.1118.3118.7
Finalsales ofdomes-
ticproduct
25.6
26.026.226 827.227.7
28.329.330.231.733.3
35.237.138.841.244.9
49.252.255.760.165.4
71.878.783.887.490.8
94.396.9
100.0103.9108.5
113.2117.8
85.288.692195.597.9
101.3105.6
106.9108.1109.0110.0
111.3112.6113.9115.1
116.4117.4118.3118.9
119.8120.7121.2
Grossdomestic
pur-chases 2
25.4
25.826.026 627.027.5
28.229.230.031.433.0
34.736.738.440.844.9
49.252.356.160.566.0
11179.784.187.290.9
93.996.5
100.0103.9108.5
113.4117.7
85.388.491.995.397.5
101.4105.5
106.9108.2109.0110.0
111.5112.6114.0115.7
116.6117.3118.0118.7
119.5120.3120.6
Percentchangefrom
preced-ing
period,GDP
implicitpricedefla-tor3
2.8
1.61.22.31.11.8
2.53.53.15.05.0
5.45.44.66.48.7
9.66.36.97.98.6
9.510.06.24.14.4
3.72.63.23.94.4
4.34.1
5.44.63.83.7
4.44.84.73.9
5.33.52.42.4
3.12.72.0
1 Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.3 Quarterly changes are at annual rates.
Note.—Separate deflators are not calculated for gross private domestic investment, change in business inventories, and net exportsof goods and services.
Source: Department of Commerce, Bureau of Economic Analysis.
353
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-4.—Changes in gross domestic product and personal consumption expenditures, and related
implicit price deflators and fixed-weighted price indexes, 1960-92
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
I9601961196219631964
19651966196719681969
197019711972 . .19731974
19751976197719781979
1980 .198119821983 .1984
1985 . . . . .198619871988 .1989
19901991 . . .
1987:11!IllIV .
1988:1IIIllIV
1989:1II .. . .IllIV
1990:1||IIIIV . .
1991:1. .. .||IIIIV
1992-1 .. .IIIll
Gross domestic product
Currentdollars
3.9367.5557.4
8.4955.8927.9
538.6
10 01188.1
8.711511613.111.5
881193.981
10.9
69576.4797.2
5.22.8
6.881729.9
6.191768.1
8.6633.851
7.7582.7
1
18524.028
624.35.3
Con-stant
(1987)dollars
2.2275.24.15.6
55592.6422.7
02.95152
-.6
- . 849454.82.5
_ 518
-2 .2396.2
32293.1392.5
.8-1 .2
3.051405.9
2.643253.9
3.218015
2.810
-1 .6- 3 9
- 3 01 71.2
6
291.53.4
Implicitprice
deflator
1.6122.31.11.8
2.5353.1505.0
545.44.6648.7
9.66.3697.98.6
9.510 06.2414.4
37263.2394.4
4.34.1
3.329333.6
3.644513.9
5.4463.837
4.4484.739
53352.424
312.72.0
Fixed-weight-ed price
index(1987
weights)
3.93.4
3.5283.1394.4
4.54.0
3.42.83.33.6
3.64.55.43.7
5.04.73.73.6
5.4464.74.1
4.7353.024
3.62.92.1
Personal consumption expenditures
Currentdollars
4.5336.15.47.4
7.8835.89.88.0
718.39.6
10 59.4
10.511.511.211.811.4
10.410 26.99.69.0
8.4697.18.06.9
6.43.7
5.59.48.34.4
9.97.98.48.9
5.17.06.35.3
8.4488.032
.4544.43.0
8.43.55.2
Con-stant
(1987)dollars
2.72.34.43.85.6
5.6513.15.23.7
2.43.35.645
- .6
2.15.24.04.12.4
- . 11.21.14.64.8
4.43.62.83.61.9
1.2- . 6
4.83.9
- . 1
7.12.52.94.1
.11.12.9.8
2.21
1.7-3 .1
-3 .0201.5
- . 3
5.1-.13.7
Implicitprice
deflator
1.9.7
1.81.41.7
2.13.02.64.14.3
4.45.13.75.7
10.2
8.25.96.97.28.9
10.49.05.74.93.9
3.93.14.24.24.9
5.24.3
5.94.54.14.5
2.85.25.14.7
5.05.73.34.4
6.34.76.16.7
3.43.13.03.4
3.03.61.3
Fixed-weight-ed price
index(1987
weights)
1.3.8.6.9
1.1
1.01.82.63.83.8
4.44,43.34.69.3
8.15.66.47.08.5
10.38.65.44.33.7
3.83.04.14.34.9
5.34.4
5.64.44.34.5
2.75.25.34.6
5.25.93.54.3
6.44.46.46.8
3.43.33.03.1
3.53.52.6
Source: Department of Commerce, Bureau of Economic Analysis.
354
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-5.—Selected per capita product and income series in current and 1987 dollars, 1959-92
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year or
1959
196019611962 ,19631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981...198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985.1V1986:1V1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Current dollars
Grossdomes-tic
prod-uct
2,791
2,8402,8943,0633,1863,376
3,6163,9154,0974,4304,733
4,9285,2835,7506,3686,819
7,3438,1098,96110,02911,055
11,89213,17713,56414,53115,978
16,93317,73518,69419,99421,224
22,09222 466
13,70915,08516,31017,29617,95319,21320,506
20,89321,17021,31221,519
21,87422,13022,21122,152
22,19422,42222,57722,671
22,95823,14123,373
Person-al
income
2,209
2,2642,3212,4302,5162,661
2,8453,0613,2533,5363,816
4,0524,3024,6715,1845,637
6,0536,6327,2698,1219,032
9,94811,02111,58912,21613,345
14,17014,91715,65516,63017,706
18,66019 106
11,78612,61313,66814,44015,10216,07617,053
17,46617,63917,72017,995
18,36518,59518,74818,928
18,88419,05019,15119,337
19,57819,71719,790
Dispos-able
person-al
income
1,958
1,9942,0482,1372,2102,369
2,5272,6992,8613,0773,274
3,5213,7794,0424,5214,893
5,3295,7966,3167,0427,787
8,5769,4559,98910,64211,673
12,33913,01013,54514,47715,307
16,17416 658
10,18911,03311,92512,56513,12113,90714,850
15,13315,21415,32215,558
15,91716,09216,24216,443
16,43316,60416,70616,885
17,14317,29717,332
Personal consumptionexpenditures
Total
1,796
1,8391,8691,9532,0302,149
2,2872,4502,5622,7852,978
3,1523,3723,6584,0024,337
4,7455,2415,7726,3847,035
7,6778,3758,8689,63410,408
11,18411,84312,56813,44814,241
14,99615 384
9,1349,98010,64911,44512,10112,81913,814
13,95914,16514,34514,491
14,75214,88715,13315,209
15,18415,34515,46815,537
15,81415,90716,063
Dura-ble
goods
242
240228252273296
327348355404425
416468528585575
622734829909952
933994
1,0181,1731,345
1,4801,6191,6621,7831,857
1,8571 765
1,0591,2661,3831,4801,6841,6771,841
1,8291,8521,9011,845
1,9201,8571,8501,803
1,7461,7491,7901,775
1,8451,8451,887
Non-durablegoods
838
847857878895936
9871,0601,0911,1711,244
1,3181,3641,4541,6021,780
1,9262,0722,2262,4322,725
2,9993,2363,3263,4903,693
3,8553,9564,1634,3814,647
4,8994 952
3,3783,5723,7423,9243,9904,2234,495
4,5484,6414,6714,725
4,8184,8434,9354,997
4,9474,9714,9614,931
5,0085,0095,054
Serv-ices
716
752784823861917
9741,0411,1161,2111,308
1,4181,5401,6761,8141,982
2,1972,4362,7173,0433,359
3,7454,1464,5234,9715,370
5,8496,2696,7427,2847,737
8,2408 666
4,6965,1435,5246,0406,4286,9197,477
7,5827,6727,7737,921
8,0148,1878,3488,409
8,4918,6258,7178,831
8,9609,0539,122
Constant (1987) dollars
Grossdomes-tic
prod-uct
10,892
10,90311,01411,40511,70412,195
12,71213,30713,51013,93214,171
14,01314,23214,80115,42215,185
14,91715,50216,03916,63516,867
16,58416,71016,19416,67217,549
17,94418,29918,69419,25219,556
19,51319 077
16,13217,06217,68018,10218,32818,97719,429
19,54519,58919,53619,554
19,64719,64619,50719,254
19,05819,09019,09419,066
19,15919,18219,288
Dispos-able
person-al
income
7,256
7,2647,3827,5837,7188,140
8,5088,8229,1149,3999,606
9,87510,11110,41411,01310,832
10,90611,19211,40611,85112,039
12,00512,15612,14612,34913,029
13,25813,55213,54513,89014,005
14,06813 886
12,15412,59113,14513,27813,52213,68513,996
14,09013,96713,95114,015
14,12814,12014,03813,988
13,86113,89113,87613,913
14,01714,02113,998
Personal consumptionexpenditures
Total
6,658
6,6986,7406,9317,0897,384
7,7038,0058,1638,5068,737
8,8429,0229,4259,7529,602
9,71110,12110,42510,74410,876
10,74610,77010,78211,17911,617
12,01512,33612,56812,90313,029
13,04412 824
10,89511,39011,73912,09512,47212,61513,020
12,99713,00313,06113,053
13,09413,06313,08012,938
12,80812,83812,84812,803
12,93012,89312,973
Dura-ble
goods
646
638595644688733
803844841919941
896970
1,0731,1641,062
1,0501,1761,2711,3161,284
1,1541,1501,1311,2701,432
1,5521,6701,6621,7491,781
1,7571 641
1,1691,3571,4661,5441,7211,6601,785
1,7661,7821,8191,759
1,8221,7601,7491,699
1,6371,6301,6581,639
1,7001,6861,719
Non-durablegoods
2,928
2,9152,9262,9642,9773,065
3,1733,2943,3163,4173,469
3,4973,4943,6013,6703,552
3,5523,6743,7223,7953,833
3,7793,7743,7563,8423,953
4,0194,1184,1634,2234,251
4,2274125
3,7793,8923,9754,0464,1444,1624,255
4,2524,2384,2494,263
4,2524,2364,2314,189
4,1444,1474,1294,081
4,1264,0994,113
Serv-ices
3,083
3,1453,2183,3233,4233,586
3,7263,8674,0064,1694,327
4,4494,5584,7514,9174,988
5,1105,2715,4335,6335,760
5,8145,8455,8956,0666,231
6,4446,5486,7426,9306,997
7,0597 058
5,9486,1416,2986,5056,6076,7926,979
6,9796,9836,9937,031
7,0217,0677,1007,049
7,0277,0617,0627,082
7,1047,1087,141
Popula-tion
sands) 1
177,073
180,760183,742186,590189,300191,927
194,347196,599198,752200,745202,736
205,089207,692209,924211,939213,898
215,981218,086220,289222,629225,106
227,715229,989232,201234,326236,393
238,510240,691242,860245,093247,397
249,961252 711
233,060235,146237,231239,387241,550243,745246,004
246,488247,026247,701248,372
248,931249,558250,303251,050
251,687252,329253,053253,776
254,388255,054255,786
1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data areaverages of quarterly data. Quarterly data are averages for the period.
Source.- Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
355
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-6.—Gross domestic product by major type of product, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Grossdomesticproduct
Finalsales ofdomes-
ticproduct
Changein
busi-ness
inven-tories
Goods l
Total
TotalFinalsales
Changein
busi-ness
inven-tories
Durable goods Nondurable goods
Finalsales
Changein
busi-ness
inven-tories
Finalsales
Changein
busi-ness
inven-tories
Serv- Struc-tures
Autooutput
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV..1983: IV..1984: IV..1985: IV..1986: IV..1987: IV..1988: IV..
1989:1II...III..IV..
1990-.I
1991:1..
1992:1II....III...
494.2
513.4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.6
1,585.91,768.41,974.12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,250.8
5,522.25,677.5
3,195.13,547.33,869.14,140.54,336.64,683.05,044.6
5,150.05,229.55,278.95,344.8
5,445.25,522.65,559.65,561.3
5,585.85,657.65,713.15,753.3
5,840.25,902.25,978.5
490.0
510.1528.9565.5597.5643.0
693.0756.0803.8880.2949.8
1,008.41,089.21,197.11,331.91,444.4
1,591.51,751.71,949.42,204.82,475.9
2,717.53,005.23,165.53,410.63,706.1
4,014.14,260.04,513.74,884.25,217.5
5,515.95,687.7
3,241.43,527.13,818.14,107.94,355.44,623.75,027.3
5,106.25,189.75,259.35,314.6
5,437.15,484.95,549.25,592.3
5,614.45,679.45,712.95,744.2
5,855.95,894.15,963.5
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
- 5 . 716.724.727.912.8
- 9 . 525.4
-15.9- 5 . 571.1
24.68.6
26.316.233.3
6.3-10.2
-46 .320.251.032.6
-18 .859.317.3
43.739.819.630.2
8.137.710.4
-31.0
-28 .5-21.8
.29.2
-15.88.1
15.0
250.8
257.1260.4281.5293.2313.5
342.9380.1395.1427.4456.6
467.8493.0537.4616.6662.8
715.1798.8880.4989.1
1,100.2
1,176.21,324.61,315.01,407.31,591.9
1,652.61,705.31,794.51,942.02,097.0
2,166.42,182.5
1,302.21,483.01,617.51,673.71,714.51,865.42,007.0
2,060.92,104.12,106.92,115.9
2,151.62,180.02,178.02,155.8
2,158.32,179.12,195.12,197.6
2,217.82,241.32,273.4
246.6
253.9257.4275.4287.5308.5
333.2366.3384.6418.3446.8
465.6485.0527.5598.9648.5
720.8782.0855.7961.2
1,087.5
1,185.71,299.21,330.91,412.81,520.8
1,628.01,696.71,768.21,925.72,063.6
2,160.02,192.7
1,348.51,462.81,566.51,641.11,733.31,806.11,989.7
2,017.22,064.32,087.32,085.7
2,143.52,142.32,167.62,186.8
2,186.82,200.92,194.92,188.4
2,233.62,233.22,258.4
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
- 5 . 716.724.727.912.8
- 9 . 525.4
-15.9- 5 . 571.1
24.68.6
26.316.233.3
6.3-10.2
-46 .320.251.032.6
-18.859.317.3
43.739.819.630.2
8.137.710.4
-31.0
-28 .5-21 .8
.29.2
-15.88.1
15.0
91.1
93.893.1
103.4110.0119.6
132.4147.9154.5169.1180.1
182.1189.4209.7242.0257.1
288.8323.6368.3416.9474.5
502.1544.2541.6579.4647.0
704.8730.2753.5835.6891.2
920.6907.6
550.6620.5676.3705.7751.5769.3861.0
867.2893.2910.3893.9
936.1914.5919.5912.1
897.3916.8910.8905.7
923.6932.3943.8
3.1
1.6- . 13.42.74.0
6.710.25.54.76.4
- . 12.87.2
15.011.2
- 7 . 010.39.7
20.39.6
- 2 . 66.2
-16.05.5
44.9
8.61.6
21.624.325.2
- . 9-19.2
-41 .125.538.510.9
-11.937.135.3
40.217.010.633.0
- 1 . 310.710.3
-23 .1
-35.4-26 .5
- 7 . 0- 8 . 1
-19 .39.52.7
155.5
160.1164.3172.0177.5188.9
200.8218.5230.2249.1266.8
283.5295.5317.8356.9391.4
432.0458.4487.4544.3613.0
683.6755.0789.3833.4873.8
923.2966.5
1,014.71,090.11,172.5
1,239.51,285.1
798.0842.3890.2935.4981.8
1,036.91,128.7
1,149.91,171.21,177.01,191.8
1,207.41,227.81,248.11,274.6
1,289.51,284.11,284.11,282.7
1,310.01,300.81,314.6
1.1
1.63.02.73.01.0
3.03.65.04.43.3
2.35.22.72.83.1
1.36.4
15.07.63.1
- 6 . 819.2
.1-11.0
26.2
16.07.14.7
- 8 . 18.1
7.29.0
- 5 . 2- 5 . 312.521.7
- 7 . 022.2
-18.0
3.522.89.0
- 2 . 8
9.427.0
.2- 7 . 9
6.84.87.2
17.3
3.5- 1 . 412.3
181.7
195.1208.6223.1238.1256.9
276.0302.8330.7363.0395.8
434.3477.0523.6571.0631.3
706.9782.2870.4975.5
1,079.6
1,215.41,357.41,494.21,636.31,770.7
1,939.02,097.32,267.22,460.92,642.1
2,846.43,030.2
1,553.31,686.11,824.72,008.92,154.12,327.62,528.5
2,576.82,616.72,659.92,715.2
2,765.12,826.62,875.62,918.4
2,963.33,013.83,053.63,090.3
3,142.23,173.43,217.8
61.7
61.162.867.071.977.6
83.886.988.598.9
107.1
108.6127.2145.9161.9164.5
163.8187.5223.3268.1308.8
316.4348.6340.4361.5414.7
447.1466.0478.2497.5511.7
509.4464.7
339.5378.2426.9457.9468.1490.1509.1
512.3508.7512.1513.7
528.5516.1506.0487.1
464.3464.7464.4465.5
480.1487.6487,3
19.4
21.317.822.425.125.9
31.130.227.835.034.7
28.538.941.445.938.8
40.355.164.267.966.2
59.268.365.388.3
104.2
115.8120.4118.9129.1135.1
129.7119.7
63.2101.9110.4115.1122.5120.9136.1
140.3137.3131.9131.0
129.5132.9139.0117.4
112.6118.8125.0122.3
125.1135.0135.0
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
Source: Department of Commerce, Bureau of Economic Analysis.
356
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-7.—Gross domestic product by major type of product in 1987 dollars, 1959-92
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Grossdomesticproduct
Finalsales ofdomes-
ticproduct
Changein
busi-ness
inven-tories
Goods »
Total
Total Finalsales
Changein
busi-ness
inven-tories
Durable goods
Finalsales
Changein
busi-ness
inven-tories
Nondurable goods
Finalsales
Changein
busi-ness
inven-tories
Serv-ices1
Struc- Autooutput
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV..1983: IV..1984: IV..1985: IV..1986: IV..1987: IV..1988: IV..
1989:1....
IV..
1990:1....II...III..IV..
1991: 1 ...II...III..
IV..
1992:1....II...III..
1,928.8
1,970.82,023.82,128.12,215.62,340.6
2,470.52,616.22,685.22,796.92,873.0
2,873.92,955.93,107.13,268.63,248.1
3,221.73,380.83,533.33,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,539.94,718.64,838.0
4,877.54,821.0
3,759.64,012.14,194.24,333.54,427.14,625.54,779.7
4,817.64,839.04,839.04,856.7
4,890.84,902.74,882.64,833.8
4,796.74,817.14,831.84,838.5
4,873.74,892.44,933.7
1,915.2
1,962.72,015.62,112.52,199.62,324.9
2,445.42,579.52,657.52,773.22,848.2
2,868.02,935.23,084.53,230.93,217.2
3,235.63,355.33,499.03,666.33,783.2
3,784.63,818.63,777.83,902.24,080.6
4,257.64,395.94,513.74,698.64,808.3
4,871.34,830.3
3,804.53,982.84,146.24,303.34,447.24,565.64,758.7
4,776.34,802.04,823.04,831.8
4,883.34,870.04,871.44,860.6
4,821.84,837.44,831.24,830.9
4,886.34,884.64,918.7
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13 .925.534.337.213.6
- 8 . 324.6
-17 .54.4
67.9
22.18.5
26.319.929.8
6.2- 9 . 3
29.347.930.2
-20 .159.920.9
41.236.916.024.9
7.532.811.2
-26 .8
— 25.1-20 .4
.67.5
-12 .67.8
15.0
825.2
835.3840.9889.6914.9967.6
1,033.01,113.31,129.41,168.91,193.9
1,173.01,182.01,251.01,349.81,328.2
1,291.81,372.71,436.91,507.31,537.1
1,509.51,547.41,468.71,531.71,667.7
1,695.01,740.11,794.51,892.51,961.7
1,956.81,911.2
1,447.71,597.81,680.91,708.11,741.81,850.81,926.0
1,956.81,973.91,959.41,956.9
1,972.01,975.31,957.71,922.3
1,903.11,907.61,918.31,915.7
1,924.01,936.71,966.2
811.6
827.1833.7874.0898.9952.0
1,007.91,076.61,101.71,145.31,169.1
1,16711,161.31,228.41,312.11,297.3
1,305.71,347.21,402.61,470.11,523.5
1,517.71,522.91,486.21,527.31,599.8
1,672.91,731.61,768.21,872.61,932.0
1,950.71,920.5
1,492.61,568.51,633.01,677.91,761.81,790.91,905.0
1,915.51,937.01,943.41,932.0
1,964.51,942.61,946.51,949.1
1,928.21,928.01,917.71,908.2
1,936.61,929.01,951.3
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13 .925.534.337.213.6
- 8 . 324.6
-17 .54.4
67.9
22.18.5
26.319.929.8
6.2- 9 . 3
-44 .929.347.930.2
-20 .159.920.9
41.236.916.024.9
7.532.811.2
- 2 6 . 8
-25 .1-20 .4
.67.5
-12.67.8
15.0
273.8
277.8273.5296.5310.4334.3
364.1399.4413.7430.4438.4
428.0419.2458.4528.0524.6
521.6540.6583.6623.7654.1
626.4619.4578.9601.5655.1
703.4731.5753.5833.1868.1
881.0851.6
580.9639.4677.6703.1750.4769.4852.9
853.6874.1882.3862.3
900.1879.1877.1867.6
847.4860.2851.7846.8
859.6865.7880.2
8.6
4.6- . 38.67.5
11.3
18.327.114.512.815.7
- . 98.9
16.231.219.6
-11 .517.015.628.711.7
- 4 . 36.3
-16.06.3
45.7
9.31.9
21.623.323.8
- . 7-17 .5
-41 .926.739.711.9
-11 .936.933.5
38.515.99.6
31.0
- 1 . 310.09.5
-21.2
- 3 2 . 2- 2 4 . 0
- 6 . 4- 7 . 4
-17 .38.63.3
537.8
549.3560.2577.5588.5617.6
643.8677.2688.0714.9730.7
739.1742.1770.0784.1772.7
784.1806.6819.0846.4869.3
891.4903.4907.3925.8944.7
969.51,000.11,014.71,039.51,063.9
1,069.71,069.0
911.6929.1955.3974.9
1,011.41,021.51,052.2
1,061.91,062.81,061.21,069.6
1,064.41,063.41,069.41,081.5
1,080.81,067.81,066.01,061.3
1,07701,063.31,071.1
5.0
3.57.57.08.64.4
6.99.6
13.110.99.1
6.911.96.46.5
11.3
- 2 . 58.5
18.78.51.9
- 4 . 018.3
- 1 . 5- 1 . 822.3
12.96.74.7
- 3 . 46.0
6.98.2
- 3 . 02.68.3
18.3- 8 . 223.0
-12 .5
2.721.06.4
- 6 . 1
22.71.7
- 5 . 6
7.13.67.0
15.0
4.7- . 811.6
843.7
877.3916.7956.8999.9
1,052.6
1,102.11,168.41,226.61,277.81,324.6
1,362.01,401.81,454.11.508.31,553.9
1,602.21,649.11,701.21,770.61,821.7
1,864.31,895.71,922.81,976.82,033.1
2,115.32,185.02,267.22,349.72,403.9
2,463.02,497.6
1,942.11,998.32,058.12,148.82,208.22,290.92,372.4
2,382.32,394.52,408.52,430.0
2,440.82,462.62,472.12,476.5
2,480.52,497.32,503.72,509.0
2,520.12,522.42,537.5
259.9
258.2266.1281.7300.8320.4
335.4334.5329.3350.1354.5
338.9372.1401.9410.4366.1
327.7359.0395.2425.6438.0
402.5400.0368.8398.1447.7
469.4479.3478.2476.4472.5
457.7412.2
369.8416.0455.1476.5477.2483.8481.3
478.4470.5471.1469.8
478.0464.8452.8435.1
413.2412.1409.8413.7
429.5433.3429.9
59.5
63.853.163.368.969.5
83.280.472.486.682.9
65.485.389.998.779.0
74.896.8
106.0104.294.8
79.186.879.2
101.7115.8
125.0124.4118.9127.3128.0
121.7109.3
75.3113.7122.4122.4124.1120.3134.6
133.3130.4124.6123.8
122.6124.6129.6110.2
104.8110.7112.2109.4
111.2121.4118.6
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
Source: Department of Commerce, Bureau of Economic Analysis.
357
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-8.—Gross domestic product by sector, 1939-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982 IV1983 IV1984 IV1985 IV1986 IV1987 IV1988 IV
1989 1IIIIIIV
1990 1IIIIIIV
1991 1IIIIIIV
1992 1IIIll
Grossdomesticproduct
494 2
513 4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.6
1,585.91,768.41,974.12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,250.8
5,522.25,677.5
3,195.13,547.33,869.14,140.54,336.64,683.05,044.6
5,150.05,229.55,278.95,344.8
5,445.25,522.65,559.65,561.3
5,585.85,657.65,713.15,753.3
5,840.25,902.25,978.5
Business J
Total »
436 9
4514465.7500.5527.1565.8
614.1670.1703.5765.4822.5
858.7931.2
1,025.31,151.51,242.7
1,346.11,507.41,691.11,921.12,147.9
2,328.92,611.72,692.12,914.83,251.1
3,473.53,665.73,890.84,201.04,495.9
4,702.84,803.8
2,724.03,046.63,330.33.561.23,718.34,016.64,327.3
4,413.94,481.54,518.24,569.8
4,649.14,709.34,732.94,719.9
4,726.24,786.74,835.24,867.2
4,937.44,988.65,057.5
Nonfarm*
419 8
434 7447.9481.4508.7547.2
592.9644.4680.5742.8799.9
832.5900.0991.7
1,102.21,193.9
1,291.41,450.61,633.01,858.72,069.7
2,259.22,530.92,634.42,855.53,191.6
3,420.33,601.53,849.54,161.84,413.7
4,612.44,702.8
2,674.12,986.93,283.23,501.53,656.03,970.94,291.9
4,342.94,397.64,437.64,476.6
4,547.54,619.84,634.04,648.2
4,635.84,677.14,725.54,772.9
4,826.94,877.64,940.0
Farm
18 9
19 820.120.220.419.3
21.922.922.222.725.2
26.228.132.649.847.4
48.846.447.254.764.5
56.169.965.149.268.5
67.162.966.067.681.1
85.079.1
60.045.867.565.764.370.660.8
82.582.379.480.4
85.488.285.580.8
77.082.579.277.9
81.680.182.5
Statis-tical
discrep-ancy
18
31-2 .2- 1 . 0- 2 . 0
- . 7
- . 72.8
.8- . 1
- 2 . 6
.03.11.1
- . 51.4
6.010.410.97.6
13.8
13.610.9
- 7 . 410.2
- 9 . 0
-13.91.2
-24.8-28.4
1.1
5.421.9
-10.113.8
-20.5- 5 . 9-2 .0
-24.9-25.4
-11.41.71.2
12.8
16.11.2
13.4- 9 . 1
13.427.130.516.4
29.030.935.1
House-holdsand
institu-tions
12 4
13 914.515.616.717.9
19.321.323.426.129.5
32.435.639.043.047.2
52.057.162.471.078.9
89.3100.5111.6121.3132.0
141.7153.3170.5187.6206.1
227.8246.1
115.5125.1135.6145.6157.8177.6194.3
199.3203.7208.2213.3
218.8225.0231.3235.9
237.4244.1249.3253.5
258.3261.5264.8
General government2
Total
44 9
48151.655.559.364.4
69.378.487.497.8
107.5
119.5130.4142.6155.1168.8
187.7203.9220.6240.7261.9
289.8318.4345.8368.9394.1
423.6449.6478.7511.7548.8
591.6627.6
355.6375.6403.2433.6460.5488.8523.0
536.7544.3552.5561.7
577.3588.4595.3605.5
622.2626.8628.7632.7
644.4652.2656.2
Federal
217
22.623.725.226.528.5
30.034.337.941.944.9
48.551.154.957.261.1
66.671.075.681.887.1
96.3107.7117.3125.0132.2
140.3143.7151.4159.8169.1
180.3192.0
121.1126.2134.1142.4144.9153.2161.3
167.9168.5169.3170.6
177.8180.5179.8182.9
193.3192.4191.3191.1
198.2198.7199.0
Stateandlocal
231
25.527.930.232.935.9
39.344.149.555.962.6
71.179.387.797.9
107.6
121.1132.9145.0158.9174.8
193.5210.7228.5243.9261.9
283.2305.9327.3351.9379.8
411.4435.6
234.5249.4269.2291.2315.6335.6361.7
368.8375.8383.3391.2
399.5407.9415.6422.6
428.9434.5437.4441.6
446.2453.5457.2
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
358
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-9.—Gross domestic product by sector in 1987 dollars, 1959-92
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961 .196219631964
19651966196719681969
197019711972..19731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982 IV1983 IV1984 IV1985 IV1986 IV1987 IV1988 IV
1989 1IIII!IV
1990 1IIIIIIV
1991 1IIIIIIV
1992 1IIIII .
Grossdomesticproduct
1,928,8
1,970.82,023.82,128.12,215.62 340 6
2 470 52,616.22 685 22,796.92 873.0
2 873.92,955.93,107.13,268.63 2481
3.221.73,380.83,533.33,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,539.94,718.64,838.0
4,877.54,821.0
3,759.64,012.14,194.24,333.54,427.14,625.54,779.7
4,817.64,839.04,839.04,856.7
4,890.84,902.74,882.64,833.8
4,796.74,817.14,831.84,838.5
4,873.74,892.44,933.7
TotalJ
1,582.1
1,609.51,650.71,740.81,818.81930 4
2,045 32,162.62 208 02,303.02,366.2
2 368.42,447.42,594.82,749.72 719 6
2,684.62,840.12,987.83,144.23,226.0
3,193.43,253.63,167.33,308.23,541.7
3,658.13,768.33,890.84,050.64,150.5
4,170.14,103.9
3,166.33,411.53,583.03,706.13,786.73,969.94,104.2
4,137.24,153.94,149.34,161.9
4,191.14,196.54,172.84,120.1
4,078.24,098.34,116.14,123.1
4,156.84,174.44,212.5
Business*
Nonfarm1
1,543.4
1,574.31,611.61,698.01,778.61886 8
2 00172,109.12158 82,258.02,326.7
2 318 92,388.62,541.32,702.02 666 0
2,619.62,768.12,914.63,083.83,155.0
3,123.43,179.23,115.83,243.13,496.4
3,608.63,702.83,849.54,014.84,083.4
4,094.74,015.8
3,116.93,349.03,548.93,646.83,724.43,925.54,074.5
4,082.54,083.84,082.44,085.0
4,107.84,124.64,089.94,056.4
3,998.34,007.14,021.64,036.3
4,058.84,076.14,109.2
Farm
45.2
46.446.946.347.146 0
46144.546 545.146.8
49.550.550.748.650 7
53.152.553.848.250.4
51.060.860.253.755.1
64.264.366.063.266.2
70.569.4
61.147.056.165.564.469.053.8
65.468.565.865.2
68.770.871.071.6
68.368.068.572.8
73.672.574.0
Statis-tical
discrep-ancy
- 6 . 5
-11.2- 7 . 8- 3 . 6- 6 . 8- 2 4
- 2 59.02.6
- . 1-7 .2
.08.32.8
- 1 . 030
11.919.519.412.220.6
19.013.6
-8 .711.5
- 9 . 8
-14.71.3
-24 .8-27.4
.9
4.918.7
-11.715.5
-22.0-6 .2- 2 . 1
-24.6-24.1
-10.71.61.1
11.7
14.51.1
11.8-7 .9
11.523.226.013.9
24.425.929.2
House-holdsand
institu-tions
80.1
86.587.591.193.696 5
100 4104.7108 3111.8115.5
114.1116.7120.0123.2124.3
128.0128.6129.8135.1138.3
142.6145.6148.9151.0154.9
159.9166.3170.5180.6190.5
197.7202.4
149.6151.7156.8162.3166.9173.2184.7
187.5190.0191.6193.2
194.8197.0199.3199.6
200.0201.9203.1204.8
206.7206.7208.8
General government2
Total
266.5
274.8285.6296.2303.2313 7
324 8348.9368 9382.1391.3
391.4391.8392.2395.7404.1
409.1412.0415.6424.2432.5
440.3443.9444.2447.4451.9
461.8469.9478.7487.4497.0
509.8514.7
443.8448.9454.4465.1473.5482.3490.7
492.9495.1498.2501.7
505.0509.3510.6514.2
518.5516.9512.6510.6
510.3511.3512.3
Federal
130.5
132.1135.3141.6140.91417
142.3155.4168.1170.7171.2
161.6152.4143.7138.0137.9
137.1137.0137.0138.4137.5
139.2140.9142.4144.8146.4
148.6149.0151.4153.5154.2
156.3157.1
143.2145.2147.1148.7149.8152.8154.0
154.0153.8154.3154.8
155.1156.6155.7157.7
161.1158.6155.5153.4
152.5151.8151.1
Stateandlocal
136.0
142.7150.3154.7162.3172.0
182.5193.5200.8211.4220.1
229.8239.5248.6257.7266.2
272.0275.0278.6285.8295.0
301.1303.0301.8302.6305.4
313.2320.8327.3333.9342.7
353.5357.5
300.6303.7307.3316.5323.7329.5336.7
338.9341.3343.9346.9
349.9352.7354.8356.5
357.4358.3357.1357.3
357.7359.5361.2
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.
Source: Department of Commerce, Bureau of Economic Analysis.
359
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-10.—Gross domestic product of nonjinancial corporate business, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Grossdomes-
ticproduct
ofnon-
financialcorpo-
ratebusi-ness
Con-sump-tionof
fixedcap-ital
Net domestic product
Total
Indi-rectbusi-ness
taxes1
Domestic income
Total
Com-pensa-tion ofemploy-
ees
Corporate profits with inventory valuation and capitalconsumption adjustments
Total
Profits
Profitsbefore
tax
Profitstax
liability
Profits after tax
Total Divi-dends
Undis-tributedprofits
adjust- adjust-
Inven-toryvalu-ation
Capitalcon-
sump-tion
ment ment
Netinter-est
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV..1983: IV..1984-. IV..1985: IV..1986: IV..1987: IV..1988: IV..
1989:1II....III..IV..
1990:1II....III..IV..
1 9 9 1 : III....
1992: I....II...I I I .
267.5
278.1285.5311.7331.8358.1
393.5431.0453.4500.5543.3
561.4606.4673.3754.5814.6
881.2994.6
1,124.71,279.41,423.7
1,546.51,748.61,802.81,936.12,166.5
2,293.62,386.32,547.32,764.82,913.5
3,036.53,073.8
1,806.32,037.22,228.22,338.82,422.82,627.62,843.2
2,870.12,902.32,930.22,951.5
2,999.63,053.13,048.23,045.0
3,037.13,062.73,084.43,111.1
3,138.13,178.83,211.6
24.2
25.226.026.928.129.5
31.534.337.541.445.3
49.754.661.066.277.5
93.3103.8116.2132.3153.0
174.8207.0229.4242.1248.1
258.0271.4281.4297.5317.4
329.3341.2
238.8261.5258.9263.4275.8286.1304.5
308.7312.4321.7326.5
324.8327.2330.8334.4
338.9341.0341.5343.5
342.7347.6363.3
243.2
252.9259.6284.8303.7328.6
362.0396.7415.9459.1498.0
511.6551.7612.4688.3737.1
788.0890.8
1,008.51,147.21,270.7
1,371.71,541.51,573.41,694.01,918.3
2,035.52,114.92,265.92,467.32,596.2
2,707.22,732.6
1,567.51,775.71,969.42,075.42,147.12,341.42,538.8
2,561.42,589.82,608.52,625.0
2,674.92,725.92,717.42,710.6
2,698.22,721.72,742.92,767.5
2,795.42,831.32,848.3
26.0
28.329.532.034.036.6
39.240.543.149.754.7
58.864.569.276.381.4
87.495.1
104.1114.6123.3
139.4167.9169.4185.8206.9
220.3231.4241.0257.1274.2
290.9310.8
172.6194.0212.4223.8233.6245.4263.1
266.6272.5278.8279.0
286.1286.6293.5297.5
304.1305.5314.7318.7
322.6324.1330.1
217.2
224.6230.1252.8269.7292.0
322.8356.2372.8409.3443.3
452.8487.3543.2612.0655.7
700.6795.7904.4
1,032.61,147.4
1,232.41,373.61,404.01,508.21,711.4
1,815.31,883.62,024.92,210.22,322.0
2,416.32,421.8
1,394.91,581.71,756.91,851.61,913.52,096.02,275.7
2,294.92,317.42,329.72,346.0
2,388.82,439.32,423.92,413.2
2,394.22,416,22,428.22,448.8
2,472.82,507.12,518.2
171.5
181.2185.3200.1211.1226.7
246.5274.0292.3323.2358.8
378.7402.0447.1505.9556.8
580.3656.7741.8850.2964.2
1,053.51,164.81,209.91,271.61,409.2
1,503.21,581.51,675.01,814.21,920.2
2,019.02,048.6
1,213.91,327.61,449.71,540.11,611.41,730.11,868.8
1,894.91,907.21,924.01,954.6
1,985.32,017.62,035.72,037.3
2,022.12,042.02,058.62,071.8
2,081.02,096.42,109.5
42.6
40.040.848.253.860.0
70.374.971.876.071.3
57.167.277.083.670.6
91.5111.5132.0146.1138.1
120.7136.9111.5159.9214.3
221.4203.8244.2274.4255.2
248.3229.9
101.5175.2211.4221.4198.6256.8278.5
262.2263.2254.8240.7
254.9272.0239.7226.6
226.2231.4226.5235.3
255.7276.2278.5
43.6
40.340.145.049.856.0
66.271.467.574.070.8
58.167.178.698.6
109.2
109.9137.3158.6183.5195.5
181.6181.0132.9155.9189.0
165.5149.1212.0256.6232.9
232.9207.3
116.5168.1169.0168.4168.5224.8271.4
260.6237.3217.8215.9
224.6235.4245.4226.4
203.1205.2211.2209.7
227.3254.5248.6
20.7
19.219.520.622.824.0
27.229.527.833.633.3
27.229.933.840.242.2
41.553.059.967.169.6
67.063.946.359.473.7
69.975.693.5
101.799.5
92.881.1
40.664.462.671.186.599.6
107.9
113.2101.692.391.1
89.393.798.090.1
78.880.383.382.1
90.2100.896.6
22.9
21.120.724.327.032.1
39.041.939.740.437.5
31.037.144.858.467.0
68.484.498.7
116.4125.9
114.6117.186.796.4
115.4
95.673.5
118.5154.9133.3
140.2126.2
75.9103.7106.497.282.0
125.1163.5
147.4135.7125.5124.8
135.3141.7147.4136.2
124.2124.9127.9127.6
137.1153.7152.0
10.0
10.610.611.412.613.7
15.616.817.519.119.1
18.518.520.121.121.7
24.827.832.037.239.3
45.553.456.466.569.5
74.576.377.982.0
101.9
118.5117.3
59.067.468.774.775.284.084.3
102.4100.5102.3102.3
118.2113.5118.0124.5
119.0115.5113.9120.9
107.1113.4117.0
12.9
10.610.113.014.418.4
23.425.122.221.318.4
12.518.724.737.345.2
43.656.666.879.186.7
69.163.730.229.945.9
21.1- 2 . 840.672.931.5
21.6
16.936.337.722.56.8
41.279.2
45.035.323.322.5
17.228.229.511.7
5.29.3
14.16.7
30.140.435.0
- 0 . 3
- . 2.3.0.1
- . 5
- 1 . 2- 2 . 1- 1 . 6- 3 . 7- 5 . 9
- 6 . 6- 4 . 6- 6 . 6
-20.0-39 .5
-11.0-14.9-16 .6-25 .0-41.6
-43.0-25 .7
- 9 . 9- 8 . 5- 4 . 1
.29.7
-14 .5-27 .3-17 .5
-14.23.1
- 8 . 6-7 .6
3.5- 3 . 8
-10.7-17 .8-31.7
-37.6-15.7
- 3 . 3-13 .5
- 6 . 63.8
-32.6-21.2
6.79.9
- 4 . 8
-5 .4-15 .5
- 9 . 7
- 0 . 7
- . 2
123.94.5
5.35.65.85.66.3
5.54.75.05.0
- 7 . 4-10 .9-10 .0-12 .3-15 .9
-17 .8-18 .4-11 .5
12.529.4
55.644.946.745.039.9
29.519.4
- 6 . 414.738.956.940.849.838.8
39.241.640.338.3
36.932.926.921.5
16.516.220.124.8
33.837.139.5
3.1
3.54.04.54.85.3
6.17.48.8
10.113.2
17.118.119.222.528.3
28.727.530.636.345.1
58.271.982.576.787.9
90.798.3
105.8121.6146.6
149.0143.4
79.678.995.890.0
103.5109.2128.4
137.7147.0150.9150.7
148.7149.7148.4149.2
145.9142.9143.0141.7
136.0134.6130.3
1 Indirect business tax and nontax liability plus business transfer payments less subsidies.
Source: Department of Commerce, Bureau of Economic Analysis.
360
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-ll .—Output, costs, and profits of nonfinancial corporate business, 1959-92
[Quarterly data at seasonally adjusted annual rates]
Year or quarter
Gross domesticproduct of
nonfinancialcorporatebusiness
(billions ofdollars)
Current 1987dollars dollars
Current-dollar cost and profit per unit of output (dollars)2
Totalcostand
prof i t2
Con-sump-tionof
fixedcap-ital
Indi-rectbusi-ness
taxes 3
Com-pen-
sationof
employ-ees
Corporate profits withinventory valuation and
capital consumptionadjustments
TotalProfits
taxliability
Profitsaftertax4
Netinterest
Outputper hour
of allemploy-
ees(1987
dollars)
Compen-sation
per hourof all
employ-ees
(dollars)
19591960196119621963196419651966....19671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911982: IV1983: IV1984: IV1985: IV1986: IV1987-. IV1988: IV
1990:1IIIllIV
1991:1IIIllIV
1992:1II...III..
267.5278.1285.5311.7331.8358.1393.5431.0453.4500.5543.3561.4606.4673.3754.5814.6881.2994.6
1,124.71,279.41,423.71,546.51,748.61,802.81,936.12,166.5
1989:1
2,293.62,386.32,547.32,764.82,913.53,036.53,073.81,806.32,037.22,228.22,338.82,422.82,627.62,843.2
2,870.12,902.32,930.22,951.5
2,999.63,053.13,048.23,045.0
3,037.13,062.73,084.43,111.1
3,138.13,178.83,211.6
928.7955.6978.2
1,047.51,104.81,179.31,262.21,336.01,367.41,444.31,492.51,-473.41,525.91,629.51,706.91,669.71,625.61,748.51,866.71,967.11,995.71,980.92,035.12,001.32,112.32,284.12,364.32,439.32,547.32,684.82,718.92,740.02,698.01,999.62,204.22,328.42,396.92,463.32,604.02,719.0
2,719.12,715.82,717.92,722.7
2,742.02,763.32,737.32,717.4
2,683.52,687.42,699.12,722.0
2,737.62,760.82,787.6
0.288.291.292.298.300.304.312.323.332.347.364.381.397.413.442.488.542.569.603.650.713.781.859.901.917.949.970.978
1.0001.0301.0721.1081.139
.903
.924
.957
.976
.9841.0091.046
1.0561.0691.0781.084
1.0941.1051.1141.121
1.1321.1401.1431.143
1.1461.1511.152
0.026.026.027.026.025.025.025.026.027.029.030.034.036.037.039.046.057.059.062.067.077.088.102.115.115.109.109.111.110.111.117.120.126.119.119.111.110.112.110.112
.114
.115
.118
.120
.118
.118
.121
.123
.126
.127
.127
.126
.125
.126
.130
0.028.030.030.031.031.031.031.030.032.034.037.040.042.042.045.049.054.054.056.058.062.070.082.085.088.091.093.095.095.096.101.106.115.086.088.091.093.095.094.097
.098
.100
.103
.102
.104
.104
.107
.109
.113
.114
.117
.117
.118
.117
.118
0.185.190.189.191.191.192.195.205.214.224.240.257.263.274.296.333.357.376.397.432.483.532.572.605.602.617.636.648.658.676.706.737.759.607.602.623.643.654.664.687
.697
.702
.708
.718
.724
.730
.744
.750
.754
.760
.763
.761
.760
.759
.757
0.046.042.042.046.049.051.056.056.052.053.048.039.044.047.049.042.056.064.071.074.069.061.067.056.076.094.094.084.096.102.094.091.085.051.079.091.092.081.099.102
.096
.097
.094
.093
.098
.088
.083
.084
.086
.084
.086
.093
.100
.100
0.022.020.020.020.021.020.022.022.020.023.022.018.020.021.024.025.026.030.032.034.035.034.031.023.028.032.030.031.037.038.037.034.030.020.029.027.030.035.038.040
.042
.037
.034
.033
.033
.034
.036
.033
.029
.030
.031
.030
.033
.037
.035
0.024.022.022.026.028.031.034.034.032.029.025.020.024.027.025.017.031.033.039.040.034.027.036.033.048.062.064.053.059.064.057.057.055.030.050.064.063.045.060.063
.055
.060
.060
.055
.060
.065
.052
.050
.055
.056
.053
.056
.060
.064
.065
0.003.004.004.004.004.005.005.006.006.007.009.012.012.012.013.017.018.016.016.018.023.029.035.041.036.038.038.040.042.045.054.054.053.040.036.041.038.042.042.047
.051
.054
.056
.055
.054
.054
.054
.055
.054
.053
.053
.052
.050
.049
.047
15.44215.65916.16816.66117.19217.84318.06218.14718.35418.85418.74318.77619.48219.77419.75419.23819.75520.35420.75320.69620.21520.27120.55320.81921.58621.89622.12522.69023.07123.49423.08823.30023.72021.09421.89522.03222.31522.83823.28623.446
23.17623.05623.06223.054
23.12223.37523.29323.437
23.52223.64623.76924.014
24.15224.30124.610
2.8512.9683.0633.1833.2843.4303.5273.7213.9234.2194.5064.8255.1335.4255.8556.4167.0537.6448.2478.9459.767
10.78011.76412.58612.99513.50914.06714.71115.17015.78116.30617.16918.01112.80513.18713.71814.33914.94015.47116.018
16.15116.19116.32616.550
16.74117.06717.32217.572
17.72417.96718.12918.278
18.35918.45218.599
1 Output is measured by gross domestic product of nonfinancial corporate business in 1987 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two
places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.
Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).
361
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-12.—Personal consumption expenditures, 1939-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Personalcon-
sumptionexpendi-
tures
Durable goods
Total ]
Motorvehi-clesand
parts
Furni-tureand
house-hold
equip-ment
Nondurable goods
Total * Food
Cloth-
andshoes
Gaso-lineandoil
Fueloilandcoal
Services
Total ] Hous-ing 2
Householdoperation
Total»
Elec-tricity
andgas
- Trans-porta-tion
Medi-cal
1959
19601961196219631964
19651966196719681969
19701971197219731974
197519761977 ...19781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1
1990:1IIIII....
IV...:
1991:1IIIll
IV....
1992:1IIIll
318.1
332.4343.5364.4384.2412.5
444.6481.6509.3559.1603.7
646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.7
1,748.11,926.22,059.22,257.52,460.3
2,667.42,850.63,052.23,296.13,523.1
3,748.43,887.7
2,128.72,346.82,526.42,739.82,923.13,124.63,398.2
3,440.83,499.13,553.33,599.1
3,672.43,715.33,787.83,818.2
3,821.73,871.93,914.23,942.9
4,022.84,057.14,108.7
42.8
43.541.947.051.856.8
63.568.570.681.086.2
85.397.2
110.7124.1123.0
134.3160.0182.6202.3214.2
212.5228.5236.5275.0317.9
352.9389.6403.7437.1459.4
464.3446.1
246.9297.7328.2354.4406.8408.8452.9
450.8457.6470.8458.3
478.0463.5463.0452.7
439.5441.4453.0450.4
469.4470.6482.5
18.9
19.717.821.524.426.0
29.930.330.036.138.4
35.544.551.156.149.5
54.871.383.592.291.5
84.091.697.7
120.6144.6
167.4184.9183.5197.8205.4
202.4185.4
105.1134.8149.3162.9188.2186.3203.4
203.7204.9215.0198.1
213.0202.5201.5192.6
180.9180.7189.3190.9
198.9200.7201.7
18.1
18.018.319.320.723.2
25.128.230.032.934.7
35.737.842.447.951.5
54.560.267.174.082.3
86.091.392.5
104.4115.3
123.4135.5144.0156.7167.9
172.1170.4
95.6109.7118.7128.1140.6145.9162.5
164.9167.3168.8170.8
174.8172.2171.5169.9
169.2171.5172.2168.9
176.3176.3182.4
148.5
153.1157.4163.8169.4179.7
191.9208.5216.9235.0252.2
270.4283.3305.2339.6380.8
416.0451.8490.4541.5613.3
682.9744.2772.3817.8873.0
919.4952.2
1,011.11,073.81,149.5
1,224.51,251.5
787.3839.8887.8939.5963.7
1,029.41,105.8
1,121.11,146.51,157.11,173.5
1,199.31,208.71,235.31,254.5
1,245.01,254.21,255.31,251.4
1,274.11,277.51,292.8
80.7
82.684.887.189.594.6
101.0109.0112.3121.6130.5
142.1147.5158.5176.1198.1
218.5236.0255.9280.6313.0
341.8367.3386.0406.2430.2
451.1476.8500.7533.6565.1
601.4617.7
394.9413.9436.8460.7486.7507.4549.5
555.8562.0567.6575.3
589.7597.6606.4611.8
613.6619.2617.9620.0
627.9623.2627.3
26.4
27.027.629.029.832.4
34.137.439.243.246.5
47.851.756.462.566.0
70.876.684.194.3
101.2
107.3117.2120.5130.8142.5
152.2163.2174.5186.4200.4
206.9209.0
122.7136.7145.7156.2165.8177.6194.4
195.2199.4201.7205.4
206.9206.8208.4205.6
206.2210.8212.0206.8
216.5217.4224.3
11.3
12.012.012.613.013.6
14.816.017.118.620.5
21.923.224.428.136.1
39.743.046.950.166.2
86.797.994.193.394.5
96.979.784.786.996.2
108.5105.5
93.094.994.997.673.087.888.5
90.9100.497.795.9
101.099.3
109.5124.0
108.1105.5104.7103.5
102.8105.4107.7
4.0
3.83.83.84.04.1
4.44.74.84.74.6
4.44.65.16.37.8
8.410.111.111.514.4
15.415.814.513.814.2
14.112.012.012.112.0
12.611.7
14.014.113.814.311.312.211.7
11.212.011.513.2
12.012.113.313.0
12.211.411.811.3
11.613.813.0
126.8
135.9144.1153.6163.1175.9
189.2204.6221.7243.1265.3
290.8319.8351.9384.5423.9
474.5531.2
k 598.4677.4756.2
852.7953.5
1,050.41,164.71,269.4
1,395.11,508.81,637.41,785.21,914.2
2,059.72,190.1
1,094.61,209.31,310.41,446.01,552.61,686.41,839.5
1,868.81,895.11,925.41,967.3
1,995.02,043.12,089.62,111.1
2,137.22,176.32,205.92,241.1
2,279.32,309.02,333.3
45.0
48.251.254.758.061.4
65.469.574.179.786.8
94.0102.7112.1122.7134.1
147.0161.5179.5201.7226.6
255.2287.1311.1334.6362.3
392.5421.8452.5484.2514.4
547.5574.0
320.2344.6373.8404.6432.7466.6496.0
502.9510.2517.7526.6
534.7543.1553.6558.8
565.0571.5576.5583.0
590.9597.4603.3
18.7
20.321.222.423.625.0
26.528.230.232.335.1
37.841.045.349.855.5
63.772.481.991.2
100.0
113.0126.0141.4153.6165.5
176.2181.1187.8199.5209.8
215.0223.7
145.8159.3168.8180.7182.5189.7203.8
206.9206.0208.7217.7
208.0216.2218.4217.5
218.4224.8226.1225.5
223.5227.9225.8
7.6
8.38.89.49.9
10.4
10.911.512.213.014.0
15.216.618.420.023.5
28.532.537.642.146.8
56.363.472.680.784.6
88.787.188.493.498.0
97.6103.6
74.984.885.990.186.888.695.3
96.694.996.6
103.7
92.598.799.999.4
100.0104.4104.6105.2
101.8104.2104.8
10.5
11.211.712.212.713.4
14.515.917.318.920.9
23.727.129.831.233.3
35.741.349.253.659.4
65.169.471.678.989.1
99.0105.8116.6128.5135.6
142.8147.3
73.682.992.5
101.5109.0121.3132.7
134.5134.5135.9137.6
140.0141.8143.4145.9
145.1146.2148.2149.8
152.6152.5153.1
16.3
17.418.620.722.425.7
27.730.533.739.044.4
50.156.563.571.280.1
93.0106.2122.4139.7157.8
181.3213.6240.5265.7290.6
319.3346.4384.7427.7471.9
524.9580.2
250.9274.8299.9333.0358.4398.5444.4
457.0466.0475.3489.2
503.2517.2533.1546.0
558.7572.5586.3603.2
614.8629.0642.0
1 Includes other items not shown separately.2 Includes imputed rental value of owner-occupied housing.
Source: Department of Commerce, Bureau of Economic Analysis.
362
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-13.—Personal consumption expenditures in 1987 dollars, 1959-92
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989...
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Personalcon-
sumptionexpendi-
tures
1,178.9
1,210.81,238.41,293.31,341.91,417.2
1,497.01,573.81,622.41,707.51,771.2
1,813.51,873.71,978.42,066.72,053.8
2,097.52,207.32,296.62,391.82,448.4
2,447.12,476.92,503.72,619.42,746.1
2,865.82,969.13,052.23,162.43,223.3
3,260.43,240.8
2,539.32,678.22,784.82,895.33,012.53,074.73,202.9
3,203.63,212.23,235.33,242.0
3,259.53,260.13,273.93,248.0
3,223.53,239.33,251.23,249.0
3,289.33,288.53,318.4
Durable goods
Total *
114.4
115.4109.4120.2130.3140.7
156.2166.0167.2184.5190.8
183.7201.4225.2246.6227.2
226.8256.4280.0292.9289.0
262.7264.6262.5297.7338.5
370.1402.0403.7428.7440.7
439.3414.7
272.3319.1347.7369.6415.7404.7439.2
435.2440.2450.6436.8
453.5439.2437.7426.6
412.0411.3419.4416.1
432.3430.0439.8
Motorvehi-clesand
parts
59.7
61.354.962.268.471.2
81.281.880.391.895.1
85.6100.8114.3123.4102.2
102.9124.6137.3141.5130.5
111.4113.5115.6138.1160.3
180.2193.3183.5194.8196.4
192.2171.0
123.7151.6164.3173.9193.6183.6197.7
196.2195.6205.3188.3
202.6192.8191.3182.0
169.6167.2173.3174.0
181.5180.2179.0
Furni-tureand
house-hold
equip-ment
38.2
37.738.140.443.148.3
52.157.659.562.964.3
64.466.873.681.581.9
79.184.291.496.6
101.3
98.597.794.2
104.3115.3
123.8136.3144.0155.4165.8
169.5168.6
96.4109.3118.7128.6141.4145.9160.3
163.0166.1166.3167.9
171.8169.7168.9167.5
166.9169.3170.4167.9
174.4174.418L5
Nondurable goods
Totall
518.5
526.9537.7553.0
. 563.6588.2
616.7647.6659.0686.0703.2
717.2725.6755.8777.9759.8
767.1801.3819.8844.8862.8
860.5867.9872.2900.3934.6
958.7991.0
1,011.11,035.11,051.6
1,056.51,042.4
880.7915.2942.9968.7
1,000.91,014.61,046.8
1,048.11,047.01,052.61,058.9
1,058.31,057.11,059.11,051.6
1,043.01,046.31,044.81,035.6
1,049.61,045.61,052.0
Food
301.9
305.8312.1316.3319.2331.0
346.5359.1364.5380.7389.7
397.5399.2411.9412.6404.7
413.2431.9441.5442.8448.0
448.8446.6451.4463.4472.3
483.0494.1500.7513.4515.0
520.8515.8
458.3467.1475.1488.2496.9502.4518.0
516.8514.2513.2515.6
518.3521.2521.6522.0
516.4516.3515.0515.3
518.9513.5514.3
Cloth-ingand
shoes
58.2
58.759.862.463.668.5
71.576.376.980.281.9
81.084.690.496.995.4
98.5103.2108.7119.0124.1
126.0132.8133.7142.4153.1
158.8170.3174.5178.9187.8
185.9181.3
135.7147.7154.7161.7171.9174.5182.8
183.3186.5190.4190.9
188.6185.6186.2183.2
180.8183.2183.7177.5
184.1184.4190.8
Gaso-lineandoil
38.1
39.439.841.542.845.1
47.350.251.855.559.2
62.965.968.672.168.6
70.673.475.777.476.4
72.073.273.975.777.9
79.282.984.786.187.3
86.485.2
73.476.979.079.584.685.487.5
88.185.487.188.6
87.486.486.785.0
83.986.086.084.7
85.785.886.0
Fueloilandcoal
22.6
21.720.620.621.622.5
23.524.224.223.021.8
20.219.521.523.318.4
18.120.319.619.518.1
14.011.810.911.111.2
11.512.112.012.011.4
10.19.7
10.511.411.111.412.411.912.0
11.111.611.012.0
9.810.910.98.8
9.49.8
10.09.4
10.212.010.9
Services
Total»
546.0
568.5591.3620.0648.0688.3
724.1760.2796.2837.0877.2
912.5946.7997.4
1,042.21,066.8
1,103.61,149.51,196.81,254.11,296.5
1,323.91,344.41,368.91,421.41,473.0
1,537.01,576.11,637.41,698.51,731.0
1,764.61,783.7
1,386.21,443.91,494.21,557.11,595.81,655.51,716.9
1,720.31,725.11,732.21,746.3
1,747.71,763.71,777.11,769.8
1,768.51,781.81,787.01,797.4
1,807.31,812.91,826.6
Hous-ing2
159.8
168.1176.0185.8194.4203.5
214.6224.4234.5246.0259.1
269.3280.9295.9310.8326.9
336.5346.7355.4372.9387.9
399.4407.3409.6415.5426.8
435.9442.1452.5461.8469.2
474.7478.2
411.0419.7431.3438.1444.8457.0465.6
467.0468.4469.9471.3
473.3474.1475.1476.1
476.5477.9478.8479.8
481.2483.3485.8
Householdoperation
Total»
75.0
78.581.285.288.492.6
96.8101.4106.2110.1115.3
118.9120.8126.8132.0132.5
138.1143.9151.0158.0162.9
167.1165.6166.7169.4173.7
179.1180.8187.8196.9202.6
203.7204.7
166.2173.3174.8182.6182.8189.3198.6
201.0199.5201.3208.5
197.9205.3207.6204.1
201.4206.5206.5204.6
201.6204.2205.6
Elec-tricity
andgas
34.5
36.338.340.942.845.1
47.249.752.455.058.0
60.461.864.966.566.9
70.472.976.078.879.3
81.680.381.283.784.3
86.685.688.492.794.3
92.495.2
80.286.884.588.586.888.693.0
94.191.892.698.8
87.893.894.893.2
92.196.696.395.6
92.994.594.0
Trans-porta-tion
45.4
46.747.048.750.553.0
55.458.662.065.468.9
71.073.677.879.679.9
81.484.490.292.996.1
91.388.987.491.6
100.0
109.2112.6116.6122.5123.8
124.7121.2
88.294.2
103.5111.2113.4117.9124.2
123.6123.4123.7124.3
125.2125.0124.9123.5
121.2121.5121.2121.0
120.3121.3124.1
Medi-cal
care
95.0
98.4102.0110.2117.1129.8
135.8142.3148.1159.5171.3
180.7193.7207.0222.4231.1
243.8255.5267.9279.2290.9
302.1318.3323.7332.6341.9
353.0366.2384.7399.4408.6
423.9438.8
327.8334.8344.9359.1372.0390.7403.0
406.6407.0408.8411.8
418.3422.1426.7428.6
431.9435.6440.5447.2
449.6453.7458.1
1 Includes other items not shown separately.2 Includes imputed rental value of owner-occupied housing.
Source-. Department of Commerce, Bureau of Economic Analysis.
363
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Gross and net private domestic investment, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Grossprivate
domesticinvest-ment
Less:Consump-
tion offixed
capital
Equals: Net private domestic investment
Total
Net fixed investment
Total
Nonresidentiai
TotalStruc-tures
Pro-ducers'durableequip-ment
Resi-dential
Change inbusiness
inven-tories
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV ,1988:1V
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
78.8
78.777.987.993.4
101.7
118.0130.4128.0139.9155.2
150.3175.5205.6243.1245.8
226.0286.4358.3434.0480.2
467.6558.0503.4546.7718.9
714.5717.6749.3793.6832.3
799.5721.1
464.2614.8722.8737.0697.1800.2814.8
843.9840.3819.6825.2
820.3833.0805.7739.0
705.4710.2732.8736.1
722.4773.2781.6
44.6
46.347.749.351.353.9
57.362.167.473.981.5
97.6109.9120.4140.2
165.2182.8205.2234.8272.4
311.9362.4399.1418.4433.2
454.5478.6502.2534.0580.4
602.8626.1
412.5439.7448.0465.6488.2512.1547.2
557.8568.4594.3600.8
594.7599.1605.8611.6
618.9623.5624.9637.1
631.4638.2697.7
34.2
32.430.338.642.047.8
60.768.360.666.073.7
61.578.095.7
122.7105.5
60.9103.6153.1199.3207.8
155.7195.6104.3128.2285.6
260.0239.1247.1259.6251.9
196.795.0
51.7175.1274.8271.4208.9288.1267.6
286.1271.9225.3224.4
225.6233.9199.9127.3
86.586.8
107.999.0
91.0135.083.9
30.1
29.227.332.536.442.8
51.054.550.156.964.0
59.269.985.8
105.091.3
66.586.8
128.3171.3195.1
165.2170.2120.3133.8214.6
235.4230.4220.9243.4218.6
190.4105.3
98.0154.9223.8238.8227.8228.8250.3
242.4232.1205.7194.2
217.5196.2189.5158.3
115.0108.5107.789.8
106.8126.968.9
12.3
13.812.215.316.421.3
30.336.733.235.040.5
38.436.842.559.058.9
41.545.664.994.1
117.3
113.8127.199.169.1
126.6
146.1114.4103.0125.8117.1
106.952.3
6.6
7.77.68.38.3
10.3
14.116.015.115.817.9
18.418.418.723.824.5
18.819.923.435.549.9
59.175.572.446.265.1
75.251.846.747.948.6
51.425.2
5.7
6.14.67.08.1
11.0
16.220.718.119.222.6
20.018.423.835.234.5
22.725.641.558.667.4
54.751.626.722.961.5
70.962.656.377.968.5
55.527.1
17.8
15.415.117.220.021.5
20.717.816.921.923.5
20.833.143.246.032.3
25.141.263.477.377.8
51.443.121.264.687.9
89.3116.0117.9117.6101.5
83.553.0
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
-5 .716.724.727.912.8
- 9 . 525.4
-15.9- 5 . 571.1
24.68.6
26.316.233.3
6.3-10.2
-46 .320.251.032.6
-18 .859.317.3
43.739.819.630.2
8.137.710.4
-31.0
-28 .5-21.8
.29.2
-15.88.1
15.0
Source: Department of Commerce, Bureau of Economic Analysis.
364
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-15.—Gross and net private domestic investment in 1987 dollars, 1959-92
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Grossprivate
domesticinvest-ment
Less:Consump-
tion offixed
capital
Equals: Net private domestic investment
Total
Net fixed investment
Total
Nonresidential
TotalStruc-tures
Pro-ducers'durableequip-ment
Resi-dential
Change inbusiness
inven-tories
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976 \197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987:1V1988-.IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
296.4
290.8289.4321.2343.3371.8
413.0438.0418.6440.1461.3
429.7475.7532.2591.7543.0
437.6520.6600.4664.6669.7
594.4631.1540.5599.5757.5
745.9735.1749.3773.4784.0
739.1661.1
503.5669.5756.4763.1705.9793.8785.0
802.9794.5769.0769.5
763.0770.2743.1680.0
646.0649.5672.0676.9
668.9713.6724.9
168.8
173.7178.6183.6189.6196.4
205.0214.9225.2235.3246.7
258.0269.1285.0296.4310.3
322.8334.6348.4364.5384.5
400.7417.8429.5447.4455.5
471.5486.7502.2518.5545.5
554.9569.3
439.2468.5467.4480.1492.5508.1524.7
530.1535.7556.7559.6
549.9553.5556.6559.6
562.5565.8569.6579.1
576.4578.0628.3
127.5
117.1110.8137.6153.7175.4
208.1223.0193.4204.7214.6
171.7206.6247.2295.3232.6
114.8186.1252.1300.0285.2
193.7213.2111.0152.1302.0
274.4248.4247.1254.9238.5
184.291.8
64.3201.0289.0283.0213.3285.7260.3
272.9258.8212.4209.9
213.0216.7186.5120.5
83.483.6
102.497.8
92.5135.796.6
114.0
109.0103.6122.0137.7159.7
182.9186.3165.8181.1189.8
165.8185.8224.6257.6201.7
128.7160.6217.8262.8271.6
201.9188.7128.5147.7234.0
252.3239.9220.9235.0208.7
178.0101.1
109.2171.7241.1252.8233.4225.8239.3
231.6221.8196.4185.0
205.5183.9175.3147.2
108.5104.0101.890.2
105.0127.981.6
39.2
44.139.949.552.869.7
99.9118.1103.9105.1112.2
98.785.098.9
134.6122.3
72.074.599.0
134.4154.1
129.5131.6101.071.6
134.3
154.0118.3103.0122.6114.8
102.653.9
25.4
30.530.632.932.139.5
53.058.353.052.256.0
53.549.049.257.953.4
36.736.839.855.270.1
73.382.075.350.369.3
79.454.946.746.745.9
46.923.4
13.8
13.79.4
16.620.730.2
46.959.850.952.956.2
45.236.049.776.768.9
35.337.759.279.284.0
56.149.625.721.465.0
74.663.356.375.968.9
55.730.5
74.8
64.863.772.584.990.0
83.068.261.976.077.6
67.1100.8125.7123.079.4
56.886.1
118.8128.4117.5
72.557.127.576.099.8
98.3121.6117.9112.494.0
75.547.3
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
- 8 . 324.6
-17 .54.4
67.9
22.18.5
26.319.929.8
6.2- 9 . 3
- 4 4 . 929.347.930.2
-20 .159.920.9
41.236.916.024.9
7.532.811.2
-26.8
-25.1-20.4
.67.5
-12.67.8
15.0
Source: Department of Commerce, Bureau of Economic Analysis.
365
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-16.—Inventories and final sales of domestic business, 1959-92
[Billions of dollars, except as noted; seasonally adjusted]
Quarter
Inventoriesl
Total2 Farm
Nonfarm
Total2 Manu-facturing
Whole-sale
trade
Retailtrade
Other
Finalsales ofdomestic
busi-ness3
Ratio of inventoriesto final sales of
domestic business
Total Nonfarm
Fourth quarter:1959
19601961196219631964
19651966196719681969
19701971197219731974 ,
1975....1976197719781979
19801981198219831984....,
19851986198719881989
19901991
1989:1IIIllIV
1990:1IIIllIV
1991:1
IllIV
1992:1
141.2
145.2147.0153.4158.7164.2
178.4194.0206.0221.4242.5
249.4267.4296.6365.1435.2
440.1475.3521.6605.3702.6
784.1836.2817.0827.5898.9
904.3887.9950.6
1,025.11,081.6
1,106.81,082.1
1,048.41,061.41,067.11,081.6
1,084.61,095.81,117.21,106.8
1,093.31,089.61,085.51,082.1
1,085.11,090.91,098.5
31.6
33.033.734.834.933.3
37.436.336.538.741.9
40.145.055.378.074.3
75.572.275.292.197.9
104.9101.4103.6103.2100.9
96.690.590.995.496.3
94.690.5
97.598.395.196.3
96.598.697.294.6
97.6101.196.990.5
93.091.492.4
109.6
112.2113.4118.6123.8130.9
141.0157.8169.5182.6200.6
209.2222.4241.3287.1360.9
364,5403.1446.4513.2604.7
679.3734.7713.5724.4797.9
807.7797.3859.7929.6985.3
1,012.2991.6
950.9963.1972.0985.3
988.1997.2
1,020.01,012.2
995.7988.5988.6991.6
992.1999.4
1,006.1
55.2
56.257.260.362.265.9
70.780.987.594.0
103.4
105.8107.3113.6136.1177.0
177.8194.9210.6238.0280.6
309.8331.9318.5319.2349.0
339.9328.1349.3383.2409.7
422.2406.7
393.9401.8407.4409.7
412.3415.0427.5422.2
416.6411.9409.9406.7
404.0403.1
21.0
21.321.822.423.925.2
26.930.332.734.637.9
41.745.250.059.475.6
76.286.196.2
111.7141.2
174.2184.8174.7168.9187.2
184.9183.4196.3215.3224.8
236.0235.5
216.8220.6222.5224.8
226.5230.1236.5236.0
234.8231.4231.8235.5
236.0238.3
405.2 238.7
26.2
27.527.028.329.631.0
33.736.236.940.744.5
45.852.357.766.474.6
74.782.793.3
107.5118.9
125.0137.0139.5153.7173.5
188.6193.4 I216.1229.9250.2
252.0255.8
238.9239.4240.7250.2
246.7249.9252.3252.0
247.0248.9252.5255.8
257.4263.3267.0
9.810.412.413.314.9
16.017.619.925.233.7
35.839.446.355.964.1
70.381.180.782.588.3
94.392.498.0
101.2100.6
102.093.6
101.4101.3101.3100.6
102.6102.3103.7102.0
97.396.494.593.6
94.794.895.3
36.2
37.439.341.544.247.1
52.155.158.764.568.5
72.278.687.596.0
104.0
116.2127.6142.7164.5182.3
201.2217.2228.6249.6271.5
292.7311.1329.2358.4376.6
393.3403.9
363.0369.0373.6376.6
385.2388.1392.0393.3
393.8399.3401.8403.9
411.1414.5419.1
3.90
3.883.743.693.593.49
3.433.523.513.433.54
3.453.403.393.804.18
3.793.723.653.683.85
3.903.853.573.323.31
3.092.852.892.862.87
2.812.68
2.892.882.862.87
2.822.822.852.81
2.782.732.702.68
2.642.632.62
3.03
3.002.882.862.802.78
2.712.862.892.832.93
2.902.832.762.993.47
3.143.163.133.123.32
3.383.383.122.902.94
2.762.562.612.592.62
2.572.45
2.622.612.602.62
2.572.572.602.57
2.532.482.462.45
2.412.412.40
1 Inventories at end of quarter. Quarter-to-quarter change calculated from this table is not the current-dollar change in businessinventories (CBI) component of GDP. 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 Inventories of construction establishments are included in "other" nonfarm inventories.3 Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product of
households and institutions and general government and includes a small amount of final sales by farms.Note.—The industry classification of inventories is on an establishment basis and is based on the 1987 Standard Industrial
Classification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.Source: Department of Commerce, Bureau of Economic Analysis.
366
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17.—Inventories and final sales of domestic business in 1987 dollars, 1959-92
[Billions of 1987 dollars, except as noted; seasonally adjusted]
Quarter
Inventories'
Total2 Farm
Nonfarm
Total2 Manu-facturing
Whole-saletrade
Retailtrade
Other
Finalsales ofdomestic
busi-ness3
Ratio of inventoriesto final sales of
domestic business
Total Nonfarm
Fourth quarter:
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1
388.6
396.7403.9419.5435.6451.2
476.4513.1540.7564.3589.2
595.1615.8638.4676.1707.0
693.1718.6752.9790.1803.7
795.4820.0802.5806.9874.8
896.9905.5931.8951.7981.5
987.6978.3
962.0971.3975.2981.5
983.4991.5994.3987.6
981.4976.3976.4978.3
975.2977.1980.9
79.6
80.582.183.985.483.4
84.683.584.586.986.9
86.389.290.692.992.5
92.990.893.693.095.7
92.398.3
101.493.194.8
97.295.188.781.781.6
84.084.3
83.184.583.181.6
82.083.284.384.0
83.985.085.484.3
83.884.385.6
308.9
316.2321.8335.7350.2367.8
391.7429.6456.3477.5502.3
508.8526.7547.7583.3614.5
600.2627.8659.2697.1708.0
703.1721.7701.0713.8780.0
799.8810.4843.1870.0899.9
903.6894.0
878.9886.7892.1899.9
901.4908.4910.0903.6
897.4891.3891.1894.0
891.4892.9895.3
152.4
153.9157.9166.1171.6179.6
190.2212.1227.6237.4246.7
246.1243.9249.6264.9283.7
277.2289.6297.1309.2320.1
319.9324.0311.3311.9339.4
335.7333.6340.2355.3373.9
377.6370.7
360.2367.0372.2373.9
376.7378.6379.8377.6
378.3375.4373.5370.7
368.5366.9367.9
61.2
62.463.765.969.673.4
77.686.592.094.7
100.3
106.9112.3116.3121.1130.8
127.3135.3144.4155.8157.3
161.9164.8159.9159.3174.7
178.7185.7192.7199.1202.5
207.0207.9
198.4201.6202.1202.5
203.5206.2207.8207.0
207.4204.6204.6207.9
206.5207.3206.8
67.6
71.470.273.876.980.3
86.892.592.199.3
105.9
105.8117.8125.3134.5133.6
127.6134.8144.5153.7153.5
146.7152.9151.7162.8181.4
194.1196.7213.6219.7231.0
227.3229.0
225.5224.3224.5231.0
226.5228.9228.8227.3
222.4222.8226.0229.0
229.2232.1234.5
27.8
28.530.029.932.034.5
37.238.444.646.149.4
50.052.656.562.766.4
68.068.173.378.377.1
74.680.078.179.884.5
91.394.496.695.992.5
91.786.3
94.893.993.392.5
94.694.693.691.7
89.488.587.086.3
87.186.586.1
130.5
133.2138.8143.8152.1159.7
172.8175.9182.4191.0194.0
196.3203.4218.5223.1218.5
226.5235.6246.7261.3265.7
265.4262.7264.9279.0292.7
305.0316.9325.2339.5343.2
343.3342.1
340.2342.0343.2343.2
347.2345.9345.4343.3
339.8342.0342.0342.1
346.0346.7348.8
2.98
2.982.912.922.862.83
2.762.922.972.953.04
3.033.032.923.033.24
3.063.053.053.023.02
3.003.123.032.892.99
2.942.862.872.802.86
2.882.86
2.832.842.842.86
2.832.872.882.88
2.892.852.862.86
2.822.822.81
2.37
2.372.322.332.302.30
2.272.442.502.502.59
2.592.592.512.612.81
2.652.662.672.672.66
2.652.752.652.562.66
2.622.562.592.562.62
2.632.61
2.582.592.602.62
2.602.632.632.63
2.642.612.612.61
2.582.582.57
1 Inventories at end of quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GDP is stated at annual rates.
2 Inventories of construction establishments are included in "other" nonfarm inventories.3 Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product of
households and institutions and general government and includes a small amount of final sales by farms.
Note.—The industry classification of inventories is on an establishment basis and is based on the 1987 Standard IndustrialClassification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
367
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-18.—Foreign transactions in the national income and product accounts, 1939-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
199019911982: IV....1983: IV....1984: IV....1985: IV....1986: IV....1987: IV....1988: IV ...
1989: IIIIII....IV....
1990: IIIIII....IV ...
1991: 1II ....Ill ...IV....
1992: III ....Ill ...
Receipts from rest of the world
Total»
25 0
30.231.433.536.141.0
43.547.250.255.661.2
70.874.283.4
115.6152.6
164.4181.6196.5233.3299.7
360.9398.2379.9372.5410.5
399.3415.2469.0572.9665.5
717.6741.7357.5388.3415.2402.9426.7506.8606.9
642.4670.4666.1683.1
698.0706.1713.7752.6
733.0737.5740.1756.0
761.0756.7767.9
Exports of goods andservices
Total
20 6
25.326.027.429.433.6
35.438.941.445.349.3
57.059.366.291.8
124.3
136.3148.9158.8186.1228.9
279.2303.0282.6276.7302.4
302.1319.2364.0444.2508.0
557.0598.2265.6286.2308.7304.7333.9392.4467.0
489.7509.5509.0523.8
541.2551.2555.9579.7
573.2594.3602.3622.9
628.1625.4639.0
Mer-chan-dise 2
16 5
20.520.921.723.326.7
27.830.732.235.338.3
44.545.651.873.9
101.0
109.6117.8123.7145.4184.2
226.0239.3215.2207.5225.8
222.4226.2257.7325.8371.6
398.1423.1198.2218.2231.4222.6235.8283.3345.4
358.5376.5370.5380.7
390.7396.4395.5409.6
410.0421.1423.5437.7
437.3435.2446.7
Serv-ices2
42
4.85.15.76.16.9
7.68.29.2
10.011.0
12.413.814.417.823.3
26.731.135.140.744.7
53.263.767.469.276.6
79.793.0
106.2118.4136.4
159.0175.167.467.977.382.198.1
109.2121.6
131.2132.9138.5143.1
150.4154.9160.4170.2
163.2173.2178.8185.3
190.8190.2192.4
Receiptsof factorincome3
435.05.46.16.67.4
8.18.38.9
10.311.9
13.014.116.423.830.3
28.232.837.747.169.7
80.694.197.395.8
108.1
97.396.0
105.1128.7157 5
160.6143.591.9
102.1106.698.192.8
114.4139.9
152.6161.0157.1159.3
156.8154.9157.8172.9
159.8143.2137.8133.1
132.9131.3128.8
Payments to rest of the world
Total
25 0
30.231.433.536.141.0
43.547.250.255.661.2
70.874.283.4
115.6152.6
164.4181.6196.5233.3299.7
360.9398.2379.9372.5410.5
399.3415.2469.0572.9665 5
717.6741.7
357.5388.3415.2402.9426.7506.8606.9
642.4670.4666.1683.1
698.0706.1713.7752.6
733.0737.5740.1756.0
761.0756.7767.9
Imports of goods andservices
Total
22 3
22.822.725.026.128.1
31.537.139.946.650.5
55.862.374.291.2
127.5
122.7151.1182.4212.3252.7
293.9317.7303.2328.1405.1
417.6451.7507.1552.2587 7
625.9620.0
295.1358.0415.7440.2467.1535.6573.1
574.9589.6588.7597.7
613.3611.2632.2646.9
602.0609.6629.5638.9
636.2662.5675.0
Mer-chan-dise2
15 3
15.215.116.917.719.4
22.226.327.833.936.8
40.946.656.971.8
104.5
99.0124.6152.6177.4212.8
248.6267.7250.6272.7336.3
343.3370.0414.8452.14851
507.8499.9
241.6300.0344.1363.0382.4437.6470.1
474.1488.4485.5492.2
500.2495.8512.2523.2
485.2489.5508.7516.2
513.1537.0559.7
Serv-ices2
70
7.67.68.18.48.7
9.310.712.212.613.7
14.915.817.319.322.9
23.726.529.834.839.9
45.349.952.655.468.8
74.381.792.3
100.1102 6
118.1120.153.458.071.677.284.798.0
103.0
100.8101.1103.1105.6
113.1115.4120.0123.7
116.7120.0120.8122.7
123.1125.5115.3
Pay-ments
offactor
in-come4
1 5
1.81.81.82.12.4
2.73.13.44.15.8
6.66.47.7
11.114.6
14.915.717.225.337.5
46.560.967.166.583.8
82.486.9
100.5120.81415
139.9126.064.471.085.582.488.9
106.9130.2
138.6147.2141.3139.1
137.9140.5139.5141.5
130.8126.5124.5122.3
113.3124.3115.3
Transfer payments (net)
Total
24
2.42.72.82.83.0
3.03.23.43.23.2
3.64.14.34.65.4
5.46.06.06.47.5
9.010.012.112.915.6
17.418.316.617.825.6
27.9-13 .3
13.817.820.419.419.621.423.8
23.722.825.730.3
25.729.728.727.4
-61 .8-16 .7
9.116.2
27.429.327.1
Frompersons(net)
04
.5
.5
.6
.7
.8
.81.01.01.1
1.21.31.31.41.2
1.21.21.21.31.4
1.61.82.11.82.3
2.72.53.02.789
9.39.7
1.92.02.52.52.83.12.7
8.28.78.79.8
8.59.0
10.29.5
9.49.89.99.7
10.210.410.0
Fromgovern-ment(net)
1 8
1.92.12.12.12.1
2.12.22.11.91.8
2.02.42.52.53.2
3.53.73.43.84.1
5.05.06.47.39.4
11.412.310.410.411.3
13.4- 2 8 . 3
8.211.013.913.512.814.615.1
10.08.6
11.515.1
12.015.513.312.8
-76 .4- 3 1 . 8
- 6 . 21.3
12.013.612.0
Frombusiness
01.1.1.1.1.2
.2
.2
.2
.3
.3
.4
.4
.5
.71.0
.71.11.41.42.0
2.43.23.63.83.9
3.23.53.24.85.4
5.25.33.74.84.03.44.03.85.9
5.55.55.45.4
5.35.25.25.2
5.25.35.35.3
5.35.35.1
Netforeigninvest-ment
- 1 23.24.33.95.07.5
6.23.93.51.71.8
4.91.3
- 2 . 98.75.1
21.48.8
- 9 . 2-10 .7
2.0
11.59.5
- 2 . 535.0
-94 .0
-118.1-141.7-155.1-118.0
- 8 9 . 3
- 7 6 . 19.0
-15 .8- 5 8 . 5
-106.3-139.1-149.0-157 .1-120.1
-94 .7- 8 9 . 1-89 .6- 8 4 . 0
-79 .0- 7 5 . 3-86 .7-63 .2
62.118.2
- 2 2 . 9- 2 1 . 5
-16 .0- 5 9 . 4-49 .6
1 Includes capital grants received by the United States (net), not shown separately. See Table B-26 for data.2 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
3 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.4 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
368
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-19.—Exports and imports of goods and services and receipts and payments of factor income in1987 dollars, 1959-92
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Exports of goods and services
Year or quarterTotal
Merchandise >
TotalDura-
blegoods
Non-dura-ble
goods
Serv-ices1
ceiptsof
factor
Imports of goods and services
Total
Merchandise'
TotalDura-
blegoods
Non-dura-
blegoods
Serv-ices l
Pay-ments
offactor
in-come3
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984-.IV1985.1V1986.1V1987: IV1988: IV
1989:1IIIllIV
1 9 9 0 : 1I I . . . . .IllIV
1991:1IIIllIV
1992:1II
73.8
88.489.995.0
101.8115.4
118.1125.7130.0140.2147.8
161.3161.9173.7210.3234.4
232.9243.4246.9270.2293.5
320.5326.1296.7285.9305.7
309.2329.6364.0421.6471.8
510.0539.4
280.4291.5312.8312.0342.9386.1438.2
454.5472.0472.9487.7
500.2508.7508.4522.6
515.9536.1544.2561.4
565.4563.4575.9
58.0
71.271.574.880.391.4
92.198.4
100.1108.8114.4
125.2124.1136.5166.9183.4
178.5183.9183.9203.0225.7
248.2244.0217.7208.3221.3
224.8234.3257.7307.4343.8
368.5392.5
202.8215.5229.0226.4243.5278.0322.0
330.2346.9343.3354.8
363.5368.7366.7375.3
377.4390.1395.2407.3
408.1408.0420.4
31.5
39.239.441.243.650.2
52.256.163.870.075.2
80.479.387.1
108.0123.5
121.3121.8119.5132.1148.1
161.0154.2130.5124.6133.8
139.3144.8163.0202.8230.9
249.2266.4
119.0131.0138.5139.6150.0180.1214.7
220.9233.5231.3237.8
245.2251.6248.7251.3
251.1267.9269.6277.0
276.1278.4285.8
26.5
32.032.133.536.741.2
39.942.336.338.739.2
44.744.949.558.959.9
57.262.164.470.977.6
87.389.787.283.887.5
85.689.694.7
104.6112.9
119.3126.1
83.784.590.586.893.597.8
107.2
109.3113.5112.0116.9
118.3117.1118.0123.9
126.3122.1125.5130.3
131.9129.6134.6
15.8
17.218.420.321.524.0
25.927.329.931.533.3
36.137.837.243.451.0
54.459.563.067.267.8
72.382.279.077.684.4
84.495.3
106.2114.2128.0
141.4146.9
77.675.983.885.599.4
108.1116.2
124.3125.0129.6132.9
136.7140.0141.7147.3
138.5146.1149.0154.0
157.3155.4155.5
17.0
19.120.622.624.426.7
28.328.129.232.335.8
36.938.142.357.667.5
57.563.067.978.7
107.1
113.7120.7117.9111.0119.4
103.499.2
105.1123.8144.7
141.1120.8
109.7116.5116.1102.994.8
112.9132.3
142.5148.6143.6144.3
140.3136.8137.8149.3
136.2120.9115.4110.8
109.7107.6105.0
95.6
96.195.3
105.5107.7112.9
124.5143.7153.7177.7189.2
196.4207.8230.2244.4238.4
209.8249.7274.7300.1304.1
289.9304.1304.1342.1427.7
454.6484.7507.1525.7545.4
561.8561.2
299.4375.1444.2467.4498.9522.1540.9
534.3541.9550.5555.0
558.6565.6567.7555.3
533.8553.5575.8581.8
586.8607.3628.6
60.2
59.159.268.070.975.6
86.5100.2105.2128.1137.0
142.1156.1177.5194.7189.3
163.3200.4223.2245.2248.7
235.6246.1243.1276.5346.1
366.5398.0414.8431.3450.4
460.3463.5
236.3306.6357.9380.0409.1427.4444.8
440.4447.6455.0458.5
458.3464.5465.7452.7
438.9454.9477.9482.2
488.0507.8526.4
26.0
24.723.728.029.632.8
40.550.653.168.774.1
75.484.495.7
100.9101.3
82.1100.9112.9130.0132.1
133.6143.4143.0167.6219.9
237.2254.6264.2274.7287.1
291.2296.7
134.6191.1229.3243.5259.8273.8284.0
283.3286.2288.3290.4
285.1291.4295.0293.3
282.2286.6306.9311.0
316.3327.0342.1
34.2
34.435.540.041.242.8
46.049.652.159.462.8
66.771.781.793.987.9
81.299.5
110.3115.3116.7
102.0102.7100.1108.9126.2
129.3143.4150.6156.7163.3
169.1166.8
101.7115.5128.6136.5149.3153.7160.8
157.1161.4166.7168.1
173.2173.0170.7159.4
156.7168.3171.0171.3
171.8180.8184.3
35.4
37.036.137.536.837.3
37.943.548.649.652.3
54.451.752.849.749.2
46.549.351.554.855.3
54.258.061.165.681.6
88.186.792.394.395.0
101.597.7
63.168.686.387.489.894.696.1
93.994.395.596.5
100.3101.2102.0102.6
94.998.597.999.6
98.899.5
102.2
6.2
7.27.27.38.29.1
9.911.0U.813.617.8
19.218.020.527.633.2
31.631.532.243.258.6
66.679.482.178.093.5
88.290.2
100.5116.1130.1
122.6105.4
77.682.093.986.891.2
105.4123.0
129.4136.0129.2125.9
123.3124.0121.5121.7
110.9106.2103.6101.0
92.7101.093.0
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
2 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.
3 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
369
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-20.—Relation of gross domestic product, gross national product, net national product, and
national income, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
196519661967.,19681969
19701971197219731974
19751976197719781979
19801981198219831984
1985198619871988.1989
19901991
1982:1V1983: IV1984: IV1985: IV1986: IV1987: IV1988.1V
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992.1IIIll
Grossdomesticproduct
494.2
513 4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010 71,097.21,207.01349 61,458.6
1585 91,768.41974 12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,250.8
5 522 25,677.5
3,195.13,547.33,869.14,140.54,336.64,683.05,044.6
5,150.05,229.55,278.95,344.8
5,445.25,522.65,559.65,561.3
5,585.85,657.65,713.15,753.3
5,840.25,902.25,978.5
Plus:Receiptsof factorincome
from restof theworld l
4.3
505.46.16.67.4
8.18.38.9
10.311.9
13 014.116.423 830.3
28 232.837 747.169.7
80.694.197.395.8
108.1
97.396.0
105.1128.7157.5
160 6143.5
91.9102.1106.698.192.8
114.4139.9
152.6161.0157.1159.3
156.8154.9157.8172.9
159.8143.2137.8133.1
132.9131.3128.8
Less:Paymentsof factorincome to
rest ofthe
world 2
1.5
181.81.82.12.4
2.73.13.44.15.8666.47.7
11114.6
14 915.717 225.337.5
46.560.967.166.583.8
82.486.9
100.5120.8141.5
139 9126.0
64.471.085.582.488.9
106.9130.2
138.6147.2141.3139.1
137.9140.5139.5141.5
130.8126.5124.5122.3
113.3124.3115.3
Equals:Gross
nationalproduct
497.0
516 6535.4575.8607.7653.0
708.1774.9819.8895.5965.6
1,017 11,104.91,215.71362 31,474.3
1 599 11,785.51994 62,254.52,520.8
2,742.13,063.83,179.83,434.43,801.5
4,053.64,277.74,544.54,908.25,266.8
5 542 951694.93,222.63,578.43,890.24,156.24,340.54,690.55,054.3
5,164.05,243.35,294.75,365.0
5,464.15,537.05,577.85,592.7
5,614.95,674.35,726.45,764.1
5,859.85,909.35,992.0
Less:Consump-
tion offixed
capital
44.6
46 347.749.351.353.9
57.362.167.473.981.5
88 897.6
109.9120 4140.2
165 2182.8205 2234.8272.4
311.9362.4399.1418.4433.2
454.5478.6502.2534.0580.4
602 86261
412.5439.7448.0465.6488.2512.1547.2
557.8568.4594.3600.8
594.7599.1605.8611.6
618.9623.5624.9637.1
631.4638.2697.7
Equals:Net
nationalproduct
452.5
470 2487.7526.5556.4599.2
650.7712.8752.4821.5884.2
928 31,007.31,105.7124191,334.1
1 433 91,602.71 789 42,019.82,248.4
2,430.22,701.42,780.83,016.03,368.3
3,599.13,799.24,042.44,374.24,686.4
4 940 15!068!8
2,810.13,138.73,442.23,690.73,852.34,178.54,507.2
4,606.24,674.94.700.44,764.2
4,869.44,937.94,972.14,981.0
4,996.05,050.95,101.55,127.0
5,228.35,271.15,294.3
Indirectbusinesstax andnontaxliability
41.9
45 548.151.754.758.8
62.765.470.479.086.6
94 3103.6111.41210129.3
140 0151.6165 5177.8188.7
212.0249.3256.4280.1309.5
329.9345.5365.0385.3414.7
444 2475.2
262.3291.7317.7335.1351.6372.3394.2
401.7411.6421.0424.4
436.0437.7447.3455.7
464.7468.2480.0487.9
493.8497.6506.4
Less:
Businesstransfer
payments
1.41.41.51.61.82.0
2.22.32.52.83.13.23.43.9455.0
526.5738.29.9
11.213.415.416.619.0
21.024.224.025.626.6
26 428.1
16.018.120.222.224.924.227.2
27.226.626.326.2
26.126.326.426.8
27.327.928.428.6
29.429.829.9
Statis-tical
discrep-ancy
- 1 . 8
- 3 1- 2 . 2- 1 . 0- 2 . 0_ y
- . 72.8
.8- . 1
-2 .6
03.11.1
- 51.4
6010.410 97.6
13.8
13.610.9
- 7 . 410.2
- 9 . 0
-13.91.2
-24 .8-28.4
1.154
21.9
-10.113.8
-20 .5- 5 . 9- 2 . 0
-24 .9-25.4
-11.41.71.2
12.8
16.11.2
13.4- 9 . 1
13.427.130.516.4
29.030.935.1
PIUS:Subsidies
IcSScurrentsurplus
ofgovern-mententer-prises
- 0 . 9
- 8.2.3
- .3.1
.31.41.21.21.5262.43.42.6.4
261.4333.62.94.84.76.2
11.79.56.49.7
14.110.95.4
42.5
9.619.29.72.68.2
22.016.5
15.25.8
-3 .94.4
9.52.7
-5 .610.3
2.51.6
- 7 . 15.13.23.6
- 3 . 4
Equals:Nationalincome
410.1
425.7440.5474.5501.5539.1
586.9643.7679.9741.0798.6
833.5899.5992.9
1,119 51,198.8
1285 31,435.51,609 11,829.82,038.9
2,198.22,432.52,522.52,720.83,058.3
3,268.43,437.93,692.34,002.64,249.5
4,468.34,544.2
2,551.52,834.33,134.43,341.93,486.03,828.84,127.6
4,203.94,240.84,248.04,305.2
4,400.74,475.34,479.34,517.9
4,493.04,529.24,555.44,599.1
4,679.44,716.54,719.6
1 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.
2 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
370
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-21.—Relation of national income and personal income, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Less:
tionalcome
410.1
425.7440.5474.5501.5539.1
586.9643.7679.9741.0798.6
833.5899.5992.9
1,119.51,198.8
1,285.31,435.51,609.11,829.82,038.9
2,198.22,432.52,522.52,720.83,058.3
3,268.43,437.93,692.34,002.64,249.5
4,468.34,544.2
2,551.52,834.33,134.43,341.93,486.03,828.84,127.6
4,203.94,240.84,248.04,305.2
4,400.74,475.34,479.34,517.9
4,493.04,529.24,555.44,599.1
4,679.44,716.54,719.6
Corporateprofitswith
inventoryvaluation
andcapital
consump-tion
adjust-ments
52.3
50.751.659.665.172.1
82.988.686.092.689.6
77.590.3
103.2116.4104.5
121.9147.1175.7199.7202.5
177.7182.0151.5212.7264.2
280.8271.6319.8365.0362.8
361.7346.3
150.3229.1261.3284.9264.6343.3378.3
369.4369.9357.3354.5
367.6384.0351.4344.0
349.6347.3341.2347.1
384.0388.4374.1
Netinterest
10.2
11.213.114.616.118.2
21.124.328.130.433.6
40.045.449.356.571.8
80.085.1
100.7120.5149.9
191.2233.4262.4270.0307.9
326.2350.2360.4387.7452.7
460.7449.5
256.8281.8321.1331.9349.7368.6408.1
433.8454.9462.4459.8
457.6457.6456.0471.4
456.2444.4450.5446.9
430.0420.0407.3
Contribu-tions for
socialinsurance
18.8
21.922.925.428.530.1
31.640.645.550.457.9
62.268.979.097.6
110.5
118.5134.5149.8171.8197.8
216.6251.3269.6290.2325.0
353.8379.8400.7442.3473.2
502.3528.8
272.8298.3332.2362.3388.7409.6453.5
466.3471.0475.3480.4
493.9499.6506.5509.1
521.5526.5532.1535.2
546.2550.8554.4
Wageaccruals
lessdisburse-
ments
0.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.0
.6
.0- .1- .5
.1
.1
.1
.3- .2
.0
.1
.0- .4
.2
-.2.0.0.0.0
.1- .1
.0
.0
.6
.0
.0-.2
.0
.0
.0
.0
.0
.0
.0
.0
.2
.2- .4
.0
.0
.0
.0
.0
Per-sonalinter-estin-
come
22.7
25.026.929.332.436.1
40.344.949.554.660.8
69.275.781.894.1
112.4
123.0134.6155.7184.5223.2
274.0336.1376.8397.5461.9
498.1531.7548.1583.2668.2
694.5700.6
373.6418.7485.4507.5532.6562.3608.9
643.1670.7677.6681.2
683.8690.5697.3706.3
701.1696.2701.8703.3
684.8675.2663.2
Per-sonaldivi-dendin-
come
12.7
13.414.015.016.118.0
20.220.922.124.525.1
23.523.525.527.729.6
29.234.739.444.250.4
57.166.967.177.878.8
87.9104.7100.4108.4126.5
140.3137.0
69.480.679.392.7
105.6100.1113.8
120.2124.2128.7132.9
137.5139.8141.6142.5
141.3136.7135.6134.3
133.9136.6141.0
Govern-ment
transferpay-
mentsto
persons
25.7
27.531.532.634.536.0
39.143.652.360.667.5
81.897.0
108.4124.1147.4
185.7202.8217.5234.8262.8
312.6355.7396.3426.1437.8
468.1497.1521.3555.9603.8
664.6748.3
419.9428.0442.3474.8505.8528.1563.5
585.8596.4609.1624.0
648.2655.0667.1688.1
722.8739.8754.0776.5
818.6835.3849.3
Businesstransfer
paymentsto
persons
1.3
1.31.41.51.71.8
2.02.12.32.52.8
2.83.03.43.84.0
4.55.55.96.87.9
8.810.211.812.815.1
17.820.720.820.821.1
21.222.8
12.313.216.218.820.920.421.3
21.821.120.920.8
20.821.121.221.6
22.122.623.123.3
24.124.424.8
Personalincome
391.2
409.2426.5453.4476.4510.7
552.9601.7646.5709.9773.7
831.0893.5980.5
1,098.71,205.7
1,307.31,446.31,601.31,807.92,033.1
2,265.42,534.72,690.92,862.53,154.6
3,379.83,590.43,802.04,075.94,380.3
4,664.24,828.3
2,746.82,965.83,242.53,456.73,647.83,918.54,195.2
4,305.24,357.44,389.24,469.4
4,571.74,640.54,692.64,751.9
4,752.84,806.94,846.24,907.2
4,980.55,028.95,062.0
PIUS: Equals-.
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983.1V1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Source: Department of Commerce, Bureau of Economic Analysis.
371
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—National income by type of income, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
199019911982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIillIV
1992 :1IIIll
Nationalincome1
410.1425.7440.5474.5501.5539.1
586.9643.7679.9741.0798.6
833.5899.5992.9
1,119.51,198.8
1,285.31,435.51,609.11,829.82,038.9
2,198.22,432.52,522.52,720.83,058.3
3,268.43,437.93,692.34,002.64,249.5
4,468.34,544.2
2,551.52,834.33,134.43,341.93,486.03,828.84,127.6
4,203.94,240.84,248.04,305.2
4,400.74,475.34,479.3
Compensationof employees
Total
4,493.04,529.24,555.44,599.1
4,679.4 |4,716.54,719.6
281.2
296.7305.6327.4345.5371.0
399.8443.0475.5524.7578.4
618.3659.4726.2812.8891.3
948.71,058.31,177.31,333.01,496.4
1,644.41,815.51,916.02,029.42,226.9
2,382.82,523.82,698.72,921.33,100.2
3,291.23,390.8
1,940.42,101.22,288.12,442.52,582.52,785.13,004.9
3,048.23,077.53,112.23,162.8
3,223.73,281.23,320.5
4,517.9 | 3,339.6
3,343.03,379.63,407.03,433.8
3,476.33,506.33,534.3
Wagesand
salaries
259.8
272.8280.5299.3314.8337.7
363.7400.3428.9471.9518.3
551.5584.5638.7708.6772.2
814.7899.6994.0
1,120.91,255.3
1,376.61,515.61,593.31,684.21,850.0
1,986.32,105.42,261.22,443.02,586.4
2,742.92,812.2
1,611.81,747.31,903.92,039.12,153.92,336.72,510.6
2,545.32,567.42,595.12,637.9
2,686.12,735.72,768.22,781.4
2,774.92,804.32,824.42,845.0
2,877.62,901.32,923.5
Supple-ments
towages
andsal-
aries2
21.423.825.128.130.733.2
36.142.746.652.860.1
66.874.987.6
104.2119.1
134.0158.7183.3212.1241.1
267.8299.8322.7345.2376.9
396.5418.4437.4478.3513.8
548.4578.7
328.6353.9384.2403.3428.6448.4494.3
502.9510.1517.1524.9
537.6545.5552.3558.2
568.1575.2582.6588.7
598.7605.0610.8
Proprietors' income with inventory valuation andcapital consumption adjustments
Total
51.7
51.954.356.457.760.5
65.069.470.975.178.9
79.986.297.4
116.5115.3
121.2132.9146.4167.7181.8
171.8180.8170.7186.7236.0
259.9283.7310.2324.3347.3
366.9368.0
179.9200.1239.6268.7284.4325.0333.4
356.6348.1334.6349.7
367.9366.3361.0372.5
356.5370.4367.1377.9
393.6398.4397.4
Farm
Total
Propri-etors'
10.7
11.211.911.911.810.6
12.914.012.712.714.4
14.615.2 ,19.132.225.5
23.7 118.317.121.524.7
11.521.213.52.4
21.3
21.522.331.330.940.2
41.735.8
10.26.3
21.917.823.642.430.9
51.342.329.038.4
48.143.632.242.8
40.138.531.5
11.612.112.712.712.511.3
13.714.813.513.615.6
15.916.620.934.328.2
27.522.521.827.031.2
19.430.223.112.130.8
30.531.039.638.848.3
49.543.4
20.015.831.226.732.150.638.8
59.350.337.446.4
56.151.440.050.5
34.3 42.041.3 48.929.5 37.137.9 45.4
47.545.839.7
Capitalcon-
sump-tion
adjust-ment
- 0 . 9
- . 7- . 7
- . 7
- . 9- 1 . 1
- 1 . 3- 1 . 4- 1 . 8- 2 . 0- 2 . 8
- 3 . 8- 4 . 2- 4 . 8- 5 . 5- 6 . 4
- 7 . 9- 9 . 0- 9 . 7- 9 . 7- 9 . 4
- 9 . 0- 8 . 7- 8 . 3- 8 . 0- 8 . 1
- 7 . 8- 7 . 6
- 9 . 8- 9 . 5- 9 . 3- 8 . 9- 8 . 6- 8 . 2- 7 . 9
- 7 . 9- 8 . 0- 8 . 4- 8 . 0
- 8 . 0- 7 . 8- 7 . 8- 7 . 7
- 7 . 7- 7 . 6- 7 . 6- 7 . 5
- 7 . 4- 7 . 3- 8 . 2
Nonfarm
Total
41.1
40.642.444.545.949.8
52.155.358.262.464.5
65.370.978.384.389.8
97.5114.6129.4146.2157.0
160.3159.6157.3184.3214.7
238.4261.5279.0293.4307.0
325.2332.2
169.6193.8217.7250.9260.9282.6302.5
305.3305.830.5.7311.4
319.8322.7328.8329.7
322.2329.1337.6340.0
353.6359.9365.9
Propri-etors'
income
40.2
39.841.843.945.249.2
51.955.458.363.065.0
66.072.079.386.594.2
100.2117.6132.5150.2161.8
165.8160.9157.8176.1197.1
212.4230.6252.4266.8281.1
310.0318.7
168.0182.5196.6223.2230.0254.2274.9
279.2277.8278.6288.7
300.6306.7315.4317.3
310.2316.5322.4325.6
339.1344.8350.2
Inven-tory
valua-tion
adjust-ment
0.0
.0
.0
.0
.0- . 1
- . 2- . 2_ 2- . 4- . 5
- . 5- . 6- . 7
- 2 . 0- 3 . 8
- 1 . 2- 1 . 3- 1 . 3- 2 . 1- 2 . 9
- 3 . 0- 1 . 4
- . 6- . 6_ 5
- . 2- . 1- . 8
- 1 . 5- 1 . 2
- . 3
.6- 1 . 6
.1- 1 . 4
.71.7
- 1 . 4
- 3 . 3- 1 . 0
.2_ 7
- 1 . 0- . 9_ g-'.5_ 3-.3- . 5- . 1
- 1 . 0- . 5
Capitalcon-
sump-tion
adjust-ment
0.9.8.6.6.7.7
.4
.2
.1- . 2
.0
- . 1— 5_*2-2- . 6
- 1 . 4- 1 . 7- 1 . 8- 2 . 0- 1 . 9
- 2 . 5.2.0
8.718.1
26.130.927.428.127.2
16.013.8
1.112.921.029.130.126.729.0
29.429.026.923.4
20.116.914.212.9
12.412.915.614.4
15.216.116.2
1 National income is the total net income earned in production. It differs from gross domestic product mainly in that it excludesdepreciation charges and other allowances for business and institutional consumption of durable capital goods and indirect businesstaxes. See Table B-20.
See next page for continuation of table.
372
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—National income by type of income, 1939-92—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Rental income of personswith capital consumption
adjustment
Total
Rentalincome
ofpersons
Capitalcon-
sumptionadjust-ment
Corporate profits with inventory valuation and capital consumption adjustments
Total
Profits with inventory valuation adjustment and withoutcapital consumption adjustment
Total
Profits
Profitsbefore
tax
Profitstax
liability
Profits after tax
TotalDivi-
dends
Undis-tributedprofits
Inven-toryvalu-ation
adjust-ment
Capitalcon-
sumptionadjust-ment
Netinterest
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
199019911982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1
IllIV
1990:1..IIIllIV
1991:1IIIllIV
1992:1IIIll
14.7
15.315.816.517.117.3
18.018.519.418.218.0
17.818.216.817.315.8
13.512.19.08.98.4
13.220.821.922.123.3
18.78.73.24.3
-13.5
-12.3-10.4
24.122.224.314.04.76.82.8
-4.2-9.6
-18.6-21.6
-16.2-13.8-9.5-9.6
-12.4-12.3-10.3-6.6
-4.53.36.4
18.0
18.719.219.820.320.5
21.322.123.422.823.9
24.225.626.128.229.3
29.529.930.034.439.1
49.061.164.464.866.5
63.453.450.053.444.2
44.647.5
66.564.567.660.050.254.252.6
47.744.844.639.8
41.043.047.646.9
44.044.347.054.7
51.760.090.3
-3.4
-3.4-3.3-3.3-3.2-3.2
-3.3-3.6-3.9-4.6-5.9
-6.4-7.4-9.3
-10.9-13.5
-15.9-17.8-21.0-25.5-30.8
-35.8-40.2-42.4-42.8-43.2
-44.6-44.7-46.8-49.1-57.7
-56.9-57.9
-42.3-42.4-43.4-46.0-45.5-47.4-49.7
-51.9-54.4-63.1-61.3
-57.1-56.8-57.1-56.4
-56.4-56.6-57.3-61.3
-56.2-56.6-83.9
52.3
50.751.659.665.172.1
82.988.686.092.689.6
77.590.3103.2116.4104.5
121.9147.1175.7199.7202.5
177.7182.0151.5212.7264.2
280.8271.6319.8365.0362.8
361.7346.3
150.3229.1261.3284.9264.6343.3378.3
369.4369.9357.3354.5
367.6384.0351.4344.0
349.6347.3341.2347.1
384.0388.4374.1
53.1
51.051.356.461.267.5
77.683.080.386.983.2
71.885.597.9
110.9103.4
129.4158.8186.7212.8219.8
197.8203.2166.4202.2236.4
225.3227.6273.4320.3325.4
341.2337.8
160.0216.2223.6228.0225.0293.4340.5
331.3330.0319.8320.6
337.4359.6334.4333.5
344.2342.2331.9333.1
360.7361.4344.4
53.4
51.151.056.461.268.0
78.885.181.890.689.0
78.490.1
104.5130.9142.8
140.4173.7203.3237.9261.4
240.9228.9176.3210.7240.5
225.0217.8287.9347.5342.9
355.4334.7
168.6223.8220.1231.8235.7311.2372.2
368.9345.7323.1334.1
344.0355.8367.0354.7
337.6332.3336.7332.3
366.1376.8354.1
23.6
22.722.824.026.228.0
30.933.732.739.439.7
34.437.741.949.351.8
50.964.273.083.588.0
84.881.163.177.294.0
96.5106.5127.1137.0141.3
136.7124.0
58.782.283.897.6
116.6135.2146.2
154.8143.7132.6134.2
132.4137.6143.0133.7
121.3122.9127.0125.0
136.4144.1131.8
29.7
28.428.232.434.940.0
47.951.449.251.249.4
44.052.462.681.691.0
89.5109.5130.3154.4173.4
156.1147.8113.2133.5146.4
128.5111.3160.8210.5201.6
218.7210.7
109.9141.6136.3134.2119.2176.0226.0
214.1202.0190.5200.0
211.6218.2224.0221.0
216.3209.4209.6207.4
229.7232.7222.2
12.7
13.414.015.016.118.0
20.220.922.124.625.2
23.723.725.828.130.4
30.135.640.745.952.4
59.069.270.081.282.7
92.4109.8106.2115.3134.6
149.3146.5
72.584.283.497.4
111.0106.3121.0
127.8132.2136.9141.3
146.1148.7150.6151.9
150.6146.2145.1143.9
143.6146.6151.1
17.0
15.014.317.418.822.0
27.830.527.126.624.1
20.328.636.953.560.6
59.473.989.5
108.5121.0
97.178.643.252.363.8
36.11.6
54.695.267.1
69.464.2
37.557.452.936.98.2
69.7105.0
86.369.853.658.7
65.569.573.469.1
65.763.264.563.4
86.286.171.1
- 0 . 3
- . 2.3.0.1
- . 5
- 1 . 2- 2 . 1-1 .6- 3 . 7-5 .9
- 6 . 6- 4 . 6-6 .6
-20.0-39 .5
-11.0-14.9-16.6-25.0-41.6
-43.0-25.7
-9 .9- 8 . 5- 4 . 1
.29.7
-14 .5-27.3-17 .5
-14.23.1
- 8 . 6- 7 . 6
3.5- 3 . 8
-10.7-17.8-31.7
-37.6-15.7
- 3 . 3-13 .5
- 6 . 63.8
-32 .6-21.2
6.79.9
- 4 . 8
- 5 . 4-15.5- 9 . 7
- 0 . 8
- . 3.3
3.23.94.6
5.35.65.75.66.4
5.64.85.35.51.2
- 7 . 6-11.7-11.0-13.1-17 .3
-20.2-21.2-14.9
10.427.8
55.544.146.444.737.4
20.58.4
- 9 . 612.937.756.939.649.937.9
38.140.037.633.9
30.224.417.010.5
5.35.19.3
14.1
23.327.029.7
10.2
11.213.114.616.118.2
21.124.328.130.433.6
40.045.449.356.571.8
80.085.1
100.7120.5149.9
191.2233.4262.4270.0307.9
326.2350.2360.4387.7452.7
460.7449.5
256.8281.8321.1331.9349.7368.6408.1
433.8454.9462.4459.8
457.6457.6456.0471.4
456.2444.4450.5446.9
430.0420.0407.3
2 Consists mainly of employer contributions for social insurance and to private pension, health, and welfare funds.3 With inventory valuation adjustment.
Source: Department of Commerce, Bureau of Economic Analysis.
373
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Sources of personal income, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter Personalincome
Wage and salary disbursements l
Total
Commodity-producingindustries
j
TotalManu-
facturing
Distrib-utive
indus-tries
Serviceindus-tries
Govern-ment
Otherlabor
incomel
Proprietors' incomewith inventoryvaluation and
capitalconsumptionadjustments
Farm Nonfarm
1959
I960....,1961 ,196219631964
19651966196719681969
19701971197219731974
1975...,1976197719781979
19801981198219831984
198519861987 :19881989
19901991
1982-.IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
391.2
409.2426.5453.4476.4510.7
552.9601.7646.5709.9773.7
831.0893.5980.5
1,098.71,205.7
1,307.31,446.31,601.31,807.92,033.1
2,265.42,534.72,690.92,862.53,154.6
3,379.83,590.43,802.04,075.94,380.3
4,664.24,828.3
2,746.82,965.83,242.53,456.73,647.83,918.54,195.2
4,305.24,357.44,389.24,469.4
4,571.74,640.54,692.64,751.9
4,752.84,806.94,846.24,907.2
4,980.55,028.95,062.0
259.8
272.8280.5299.3314.8337.7
363.7400.3428.9471.9518.3
551.5583.9638.7708.7772.6
814.6899.5993.9
1,120.71,255.4
1,376.61,515.61,593.31,684.71,849.8
1,986.52,105.42,261.22,443.02,586.4
2,742.82,812.2
1,611.71,747.31,903.32,039.12,153.92,337.02,510.6
2,545.32,567.42,595.12,637.9
2,686.12,735.72,768.22,781.3
2,774.72,804.72,824.42,845.0
2,877.62,901.32,923.5
109.9
113.4114.0122.2127.4136.0
146.6161.6169.0184.1200.4
203.7209.1228.2255.9276.5
277.1309.7346.1392.6442.1
471.9513.7513.5525.1580.8
612.2628.5651.8699.1724.2
745.6737.4
503.9547.6594.5622.6635.3668.4715.3
720.9719.8723.8732.1
740.0748.9749.4744.0
734.6734.6738.8741.5
736.8743.1742.4
86.9
89.889.996.8
100.7107.3
115.7128.2134.3146.0157.7
158.4160.5175.6196.6211.8
211.6238.0266.7300.1334.9
355.7386.9384.3397.7439.8
461.3473.8490.1524.5542.2
556.1556.9
378.0415.7450.5469.1478.5501.6537.5
542.2539.6541.3545.7
549.7558.4559.4556.9
551.2553.4559.0563.9
559.9564.7565.5
65.1
68.669.673.376.882.0
87.995.1
101.6110.8121.7
131.2140.4153.3170.3186.8
198.1219.5242.7274.9308.4
336.4368.1385.8406.2445.4
475.9501.7536.9575.3607.0
634.6647.4
391.2422.4458.4487.6512.5551.9589.9
599.8604.5607.5616.1
625.5633.7639.1640.2
638.6647.0651.1652.9
660.9662.9667.7
38.8
41.744.447.650.754.9
59.465.372.080.490.6
99.4107.9119.7133.9148.6
163.4181.6202.8233.7267.7
306.9348.1386.5427.4475.8
524.5579.5650.7719.6776.8
847.8883.9
400.9445.8494.4546.8602.1685.0746.8
756.5768.7782.1800.0
819.0841.2861.1869.9
861.8879.4890.2904.3
925.3933.9949.1
46.0
49.252.456.360.064.9
69.978.386.496.6
105.5
117.1126.5137.4148.7160.9
176.0188.6202.3219.4237.3
261.4285.7307.5325.9347.8
373.9395.7421.8449.0478.5
514.8543.6
315.6331.5356.1382.2404.0431.7458.5
468.2474.4481.6489.7
501.6511.8518.5527.1
539.7543.8544.3546.4
554.6561.4564.3
10.6
11.211.813.014.015.7
17.819.921.725.228.5
32.536.743.049.256.5
65.979.794.7
110.1124.3
139.8153.0165.4174.6184.7
191.8200.7210.4230.5251.9
271.0288.3
169.2179.0187.7193.9205.3216.5240.3
244.8249.4254.2259.1
264.9268.9273.1276.9
281.5286.1290.6295.0
299.2303.6307.9
10.7
11.211.911.911.810.6
12.914.012.712.714.4
14.615.219.132.225.5
23.718.317.121.524.7
11.521.213.52.4
21.3
21.522.331.330.940.2
41.735.8
10.26.3
21.917.823.642.430.9
51.342.329.038.4
48.143.632.242.8
34.341.329.537.9
40.138.531.5
41.1
40.642.444.545.949.8
52.155.358.262.464.5
65.370.978.384.389.8
97.5114.6129.4146.2157.0
160.3159.6157.3184.3214.7
238.4261.5279.0293.4307.0
325.2332.2
169.6193.8217.7250.9260.9282.6302.5
305.3305.8305.7311.4
319.8322.7328.8329.7
322.2329.1337.6340.0
353.6359.9365.9
1 The total of wage and salary disbursements and other labor income differs from compensation of employees in Table B-22 in that itexcludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.
See next page for continuation of table.
374
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Sources of personal income, 1959-92—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Rentalincome
ofpersons
withcapital
con-sumption
adjust-ment
Personaldividendincome
Personalinterestincome
Transfer payments to persons
Total
Old-age,survivors,disability,
andhealthinsur-ance
benefits
Govern-mentunem-
ploymentinsur-ance
benefits
Veteransbenefits
Govern-ment
eesretire-ment
benefits
Aid tofamilies
withdepend-
entchildren(AFDC)
Other
Less-.Personalcontribu-tions for
socialinsurance
Nonfarmpersonalincome2
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
198519861987.19881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990 : IIIIllIV
1991:1II....III..IV..
1992:1II...III...
14.7
15.315.816.517.117.3
18.018.519.418.218.0
17.818.216.817.315.8
13.512.19.08.98.4
13.220.821.922.123.3
18.78.73.24.3
-13 .5
-12 .3-10.4
24.122.224.314.04.76.82.8
- 4 . 2- 9 . 6
-18.6-21.6
- 1 6 . 2-13 .8
- 9 . 5-9 .6
-12.4-12 .3-10 .3
- 6 . 6
- 4 . 53.36.4
12.7
13.414.015.016.118.0
20.220.922.124.525.1
23.523.525.527.729.6
29.234.739.444.250.4
57.166.967.177.878.8
87.9104.7100.4108.4126.5
140.3137.0
69.480.679.392.7
105.6100.1113.8
120.2124.2128.7132.9
137.5139.8141.6142.5
141.3136.7135.6134.3
133.9136.6141.0
22.7
25.026.929.332.436.1
40.344.949.554.660.8
69.275.781.894.1
112.4
123.0134.6155.7184.5223.2
274.0336.1376.8397.5461.9
498.1531.7548.1583.2668.2
694.5700.6
373.6418.7485.4507.5532.6562.3608.9
643.1670.7677.6681.2
683.8690.5697.3706.3
701.1696.2701.8703.3
684.8675.2663.2
27.0
28.832.834.136.237.9
41.145.754.663.270.3
84.6100.1111.8127.9151.3
190.2208.3223.3241.6270.7
321.5365.9408.1438.9452.9
485.9517.8542.2576.7625.0
685.8771.1
432.2441.3458.5493.6526.6548.5584.8
607.6617.5630.0644.8
669.0676.1688.3709.7
744.9762.4777.1799.8
842.7859.7874.1
10.2
11.112.614.315.216.0
18.120.825.530.232.9
38.544.549.660.470.1
81.492.9
104.9116.2131.8
154.2182.0204.5221.7235.7
253.4269.2282.9300.4325.1
352.0382.0
216.4226.7241.3256.7273.3285.8303.8
316.5321.6328.1334.4
348.0348.7352.8358.6
374.2378.9384.2390.6
405.7412.1417.1
2.8
3.04.33.13.02.7
2.31.92.22.12.2
4.05.85.74.46.8
17.615.812.79.79.8
16.115.925.226.315.8
15.716.314.513.414.4
18.027.5
31.819.915.615.316.713.413.0
13.513.814.615.6
16.117.118.120.7
24.328.327.630.0
39.741.740.4
4.6
4.65.04.74.84.7
4.94.95.65.96.7
7.78.89.7
10.411.8
14.514.413.813.914.4
15.016.116.416.616.4
16.716.716.616.917.3
17.818.1
16.616.516.416.516.416.516.8
17.517.317.317.3
17.917.817.817.7
17.818.518.118.1
20.218.718.5
2.8
3.13.43.74.24.7
5.26.16.97.68.7
10.211.813.816.019.0
22.726.129.032.736.9
43.049.454.658.060.9
66.670.776.082.287.5
94.0101.3
56.159.558.068.072.477.783.0
85.987.087.989.3
93.193.294.095.7
101.6100.4101.0102.0
106.4106.4106.6
0.9
1.01.11.31.41.5
1.71.92.32.83.5
4.86.26.97.27.9
9.210.110.610.711.0
12.413.013.314.214.8
15.416.416.717.318.0
19.822.0
13.614.514.815.716.716.717.5
17.617.818.118.4
19.219.519.920.5
21.321.822.222.7
23.023.423.6
5.7
6.16.57.07.68.2
9.010.312.214.516.2
19.423.026.129.535.7
44.749.152.458.466.8
89.794.1
102.1109.2
118.1128.5135.5146.5162.6
184.2220.2
97.6104.2112.5121.3131.1138.3150.6
156.6160.0164.0169.9
174.7179.7185.7196.5
205.8214.6224.0236.4
247.7257.4267.9
7.9
9.39.7
10.311.812.6
13.317.820.622.926.2
27.930.734.542.647.9
50.455.561.269.881.0
88.6104.5112.3119.7132.8
149.1162.1173.6194.5211.4
224.8238.4
113.3123.4135.6152.8165.4177.7199.5
208.2210.3212.4214.7
221.2223.0227.3227.8
234.9237.4240.1241.5
246.8249.3251.5
376.7
393.7410.4437.0460.0495.3
534.9582.4628.3691.4753.1
809.8871.5954.2
1,058.11,170.2
1,272.51,415.11,569.91,770.31,989.3
2,231.62,488.52,649.82,832.63,106.1
3,333.23,545.63,749.44,023.94,318.0
4,599.64,770.4
2,708.52,932.03,193.83,414.93,602.33,854.94,142.9
4,232.24,293.24,338.04,408.5
4,500.94,573.84,637.54,686.3
4,696.04,743.34,794.74,847.4
4,918.24,967.75,007.6
2 Personal income exclusive of the farm component of wages and salaries, other labor income, proprietors' income with inventoryvaluation and capital consumption adjustments, and net interest.
Note.—The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and isbased on the 1987 Standard Industrial Classification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
375
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-24.—Disposition of personal income, 1959-92
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
195919601961196219631964
19651966196719681969
19701971197219731974
197519761977 ,19781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983:1V1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1||IIIIV
1991:1IIIllIV
1992:1||III
Personalincome
391.2409.2426.5453.4476.4510.7
552.9601.7646.5709.9773.7
831.0893.5980.5
1,098.71,205.7
1,307.31,446.31,601.31,807.92,033.1
2,265.42,534.72,690.92,862.53,154.6
3,379.83,590.43,802.04,075.94,380.3
4,664.24,828.3
2,746.82,965.83,242.53,456.73,647.83,918.54,195.2
4,305.24,357.44,389.24,469.4
4,571.74,640.54,692.64,751.9
4,752.84,806.94,846.24,907.2
4,980.55,028.95,062.0
Less-.Personaltax andnontax
payments
44.548.750.354.858.056.0
61.971.077.992.1
109.9
109.0108.7132.0140.6159.1
156.4182.3210.0240.1280.2
312.4360.2371.4368.8395.1
436.8459.0512.5527.7593.3
621.3618 7
372.1371.6413.4448.8478.5528.6542.0
575.2599.1593.8605.1
609.4624.6627.3623.8
616.8617.2618.6622.3
619.6617.1628.8
Equals:Dispos-
ablepersonalincome
346.7360.5376.2398.7418.4454.7
491.0530.7568.6617.8663.8
722.0784.9848.5958.1
1,046.5
1,150.91,264.01,391.31,567.81,753.0
1,952.92,174.52,319.62,493.72,759.5
2,943.03,131.53,289.53,548.23,787.0
4,042.94,209 6
2,374.72,594.32,829.13,007.93,169.33,389.93,653.2
3,730.03,758.33,795.43,864.3
3,962.34,015.94,065.34,128.1
4,136.04,189.74,227.64,284.9
4,360.94,411.84,433.2
Less: Personal outlays
Total
324.7339.9351.3372.8393.7423.1
456.5494.4522,8573.9620.5
664.5719.4788.7872.0953.1
1,050.61,171.01,303.41,460.01,629.6
1,799.11,982.62,120.12,325.12,537.5
2,753.72,944.03,147.53,392.53,634.9
3,867.34 009 9
2,190.92,417.92,606.52,828.73,018.23,220.13,496.7
3,548.03,609.83,666.33,715.5
3,789.23,833.23,908.03,938.8
3,943.23,994.44,036.64,065.5
4,146.34,179.54,229.9
Personalcon-
sumptionexpendi-
tures
318.1332.4343.5364.4384.2412.5
444.6481.6509.3559.1603.7
646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.7
1,748.11,926.22,059.22,257.52,460.3
2,667.42,850.63,052.23,296.13,523.1
3,748.43 887 7
2,128.72,346.82,526.42,739.82,923.13,124.63,398.2
3,440.83,499.13,553.33,599.1
3,672.43,715.33,787.83,818.2
3,821.73,871.93,914.23,942.9
4,022.84,057.14,108.7
Interestpaid bypersons
6.17.07.37.88.9
10.0
11.112.012.513.815.7
16.817.819.622.424.2
24.526.730.737.544.5
49.454.658.865.775.0
83.690.992.393.7
103.0
109.6112 5
60.269.277.686.492.392.495.8
99.0101.9104.3106.7
108.4108.9110.0111.1
112.2112.7112.5112.8
113.3112.0111.2
sonaltransfer
pay-mentsto restof theworld(net)
0.4.5.5.5.6.7
.8
.81.01.01.1
1.21.31.31.41.2
1.21.21.2
* 1.31.4
1.61.82.11.82.3
2.72.53.02.78.9
9.397
1.92.02.52.52.83.12.7
8.28.78.79.8
8.59.0
10.29.5
9.49.89.99.7
10.210.410.0
Equals.-Personalsaving
22.020.624.925.924.631.6
34.636.345.843.843.3
57.565.459.786.193.4
100.393.087.9
107.8123.3
153.8191.8199.5168.7222.0
189.3187.5142.0155.7152.1
175.6199.6
183.8176.3222.6179.2151.1169.8156.4
182.0148.5129.0148.8
173.1182.7157.3189.3
192.8195.3191.0219.4
214.6232.3203.3
Percent of dispopersonal incom
Persona
Total
93.7
94.393.493.594.193.1
93.093.291.992.993.5
92.091.793.091.091.1
91.392.693.793.193.0
92.191.291.493.292.0
93.694.095.795.696.0
95.795.3
92.393.292.194.095.295.095.7
95.196.096.696.2
95.695.596.195.4
95.395.395.594.9
95.194.795.4
outlays
Personalconsump-
tionexpend-itures
91.892.291.391.491.890.7
90.590.789.690.590.9
89.589.290.588.588.6
89.190.491.490.790.3
89.588.688.890.589.2
90.691.092.892.993.0
92.792.4
89.690.589.391.192.292.293.0
92.293.193.693.1
92.792.593.292.5
92.492.492.692.0
92.292.092.7
sable
Personalsaving
6.35.76.66.55.96.9
7.06.88.17.16.5
8.08.37.09.08.9
8.77.46.36.97.0
7.98.88.66.88.0
6.46.04.34.44.0
4.34.7
7.76.87.96.04.85.04.3
4.94.03.43.9
4.44.63.94.6
4.74.74.55.1
4.95.34.6
1 Percents based on data in millions of dollars.Source: Department of Commerce, Bureau of Economic Analysis.
376
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-25.—Total and per capita disposable personal income and personal consumption expenditures in
current and 1987 dollars, 1959-92
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year or quarter
Disposable personal income
Total (billions ofdollars)
Currentdollars
1987dollars
Per capita(dollars)
Currentdollars
1987dollars
Personal consumption expenditures
Total (billions ofdollars)
Currentdollars
1987dollars
Per capita(dollars)
Currentdollars
1987dollars
Popula-tion
(thpu-
1959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV1989:1
IllIV
1990:1..
IllIV
1991: I...II..,
1992: IIIIll
346.7360.5376.2398.7418.4454.7
491.0530.7568.6617.8663.8722.0784.9848.5958.1
1,046.51,150.91,264.01,391.31,567.81,753.01,952.92,174.52,319.62,493.72,759.5
2,943.03,131.53,289.53,548.23,787.04,042.94,209.62,374.72,594.32,829.13,007.93,169.33,389.93,653.23,730.03,758.33,795.43,864.3
3,962.34,015.94,065.34,128.14,136.04,189.74,227.64,284.94,360.94,411.84,433.2
1,284.91,313.0lr356.41,414.81,461.11,562.21,653.51,734.31,811.41,886.81,947.4
2,025.32,099.92,186.22,334.12,317.0
2,355.42,440.92,512.62,638.42,710.1
2,733.62,795.82,820.42,893.63,080.1
3,162.13,261.93,289.53,404.33,464.93,516.53,509.02,832.62,960.63,118.53,178.73,266.23,335.83,443.1
3,472.93,450.13,455.73,480.93,516.83,523.93,513.73,511.63,488.73,505.23,511.53,530.83,565.73,576.03,580.5
1,9581,9942,0482,1372,2102,3692,5272,6992,8613,0773,274
3,5213,7794,0424,5214,8935,3295,7966,3167,0427,787
8,5769,4559,989
10,64211,67312,33913,01013,54514,47715,307
16.17416,65810,18911,03311,92512,56513,12113,90714,850
15,13315,21415,32215,558
15,91716,09216,24216,443
16,43316,60416,70616,885
17,14317,29717,332
7,2567,26473827,5837,7188,1408,5088,8229,1149,3999,6069,875
10,11110,41411,01310,832
10,90611,19211,40611,85112,03912,00512,15612,14612,34913,02913,25813,55213,54513,89014,00514,06813,88612,15412,59113,14513,27813,52213,68513,996
14,09013,96713,95114,015
14,12814,12014,03813,988
13,86113,89113,87613,913
14,01714,02113,998
318.1332.4343.5364.4384.2412.5444.6481.6509.3559.1603.7
646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.7
1,748.11,926.22,059.22,257.52,460.3
2,667.42,850.63,052.23,296.13,523.13,748.43,887.7
2,128.72,346.82,526.42,739.82,923.13,124.63,398.23,440.83,499.13,553.33,599.13,672.43,715.33,787.83,818.23,821.73,871.93,914.23,942.94,022.84,057.14,108.7
1,178.91,210.81,238.41,293.31,341.91,417.2
1,497.01,573.81,622.41,707.51,771.21,813.51,873.71,978.42,066.72,053.82,097.52,207.32,296.62,391.82,448.4
2,447.12,476.92,503.72,619.42,746.12,865.82,969.13,052.23,162.43,223.33,260.43,240.82,539.32,678.22,784.82,895.33,012.53,074.73,202.93,203.63,212.23,235.33,242.03,259.53,260.13,273.93,248.03,223.53,239.33,251.23,249.0
3,289.33,288.53,318.4
1,7961,8391,8691,9532,0302,149
2,2872,4502,5622,7852,978
3,1523,3723,6584,0024,337
4,7455,2415,7726,3847,0357,6778,3758,8689,634
10,40811,18411,84312,56813,44814,24114,99615,3849,1349,98010,64911,44512,10112,81913,814
13,95914,16514,34514,491
14,75214,88715,13315,209
15,18415,34515,46815,537
15,81415,90716,063
6,6586,6986,7406,9317,0897,384
7,7038,0058,1638,5068,737
8,8429,0229,4259,7529,602
9,71110,12110,42510,74410,87610,74610,77010,78211,17911,617
12,01512,33612,56812,90313,02913,04412,82410,89511,39011,73912,09512,47212,61513,020
12,99713,00313,06113,053
13,09413,06313,08012,938
12,80812,83812,84812,803
12,93012,89312,973
177,073180,760183,742186,590189,300191,927
194,347196,599198,752200,745202,736205,089207,692209,924211,939213,898215,981218,086220,289222,629225,106
227,715229,989232,201234,326236,393238,510240,691242,860245,093247,397
249,961252,711233,060235,146237,231239,387241,550243,745246,004246,488247,026247,701248,372248,931249,558250,303251,050251,687252,329253,053253,776254,388255,054255,786
1 Population of the United States including Armed Forces overseas,- includes Alaska and Hawaii beginning 1960. Annual data areaverages of quarterly data. Quarterly data are averages for the pe.iod.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
377
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-26.—Gross saving and investment, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
Gross saving
Total
Gross private saving
Total
Per-sonalsav-ing
Grossbusi-nesssav-ing 1
Government surplus or deficit( — ) , national income and
product accounts
Total FederalStateandlocal
Capitalgrants
receivedby theUnitedStates(ne t ) 2
Gross investment
Total
Grossprivatedomes-
ticinvest-ment
Netforeigninvest-ment3
Statis-tical
discrep-ancy
1959
19601961196219631964
19651966.196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983-.IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1II
79.4
85.184.492.8
100.4110.0
125.0131.5130.8141.7159.5
155.2173.7201.7252.3249.5
241.4284.8338.2415.7468.5
465.4556.6508.4501.6633.9
610.4574.6619.0704.0741.8
718.0708.2
458.5542.4637.0603.8550.1667.9720.1
760.6749.4728.9728.4
725.2756.4705.6684.8
754.1701.3679.4698.2
677.5682.9696.9
82.5
81.587.495.898.8
111.5
123.7132.5144.5146.4149.5
165.8192.2204.9245.4256.0
306.3323.1355.0412.8457.9
499.6585.9616.9641.3742.7
735.7721.4730.7802.3819.4
854.1901.5
615.4678.7764.7734.7676.3783.7814.8
826.7811.0811.2828.6
856.9879.5820.9859.3
889.4896.9884.9934.8
950.1968.1992.1
22.0
20.624.925.924.631.6
34.636.345.843.843.3
57.565.459.786.193.4
100.393.087.9
107.8123.3
153.8191.8199.5168.7222.0
189.3187.5142.0155.7152.1
175.6199.6
183.8176.3222.6179.2151.1169.8156.4
182.0148.5129.0148.8
173.1182.7157.3189.3
192.8195.3191.0219.4
214.6232.3203.3
60.5
60.962.569.974.180.0
89.296.198.7
102.5106.2
108.2126.8145.1159.3162.6
206.0230.0267.1305.0334.5
345.7394.1417.5472.7520.7
546.4533.9588.7646.6667.3
678.5701.9
431.6502.4542.1555.5525.3613.9658.3
644.7662.5682.1679.8
683.8696.8663.6670.0
696.6701.6693.9715.3
735.5735.8788.8
- 3 . 1
3.6-3 .0-2 .9
1.6-1 .6
1.2-1 .0
-13.7-4 .610.0
-11.5-19.2- 3 . 9
6.9- 4 . 5
-64.8-38.3-16.8
2.99.4
-35.3-30.3
-108.6-139.8-108.8
-125.3-146.8-111.7
-98.3-77.5
-136.1-193.3
-156.9-136.3-127.8-130.9-126.2-115.8
-94.7
-66.1-61.5-82.3
-100.2
-131.7-123.1-115.3-174.4
-135.3-195.6-205.6-236.6
-272.6-285.2-295.2
- 2 . 6
3.5-2 .6- 3 . 4
1.1-2 .6
1.3-1 .4
-12.7- 4 . 7
8.5
-13.3-21.7-17 .3
-6 .6-11.6
-69.4-52.9-42.4-28 .1-15.7
-60.1-58.8
-135.5-180.1-166.9
-181.4-201.0-151.8-136.6-122.3
-166.2-210.4
-183.4-184.6-186.8-187.2-177.5-152.7-134.9
-110.0-109.7-128.0-141.5
-167.8-156.9-145.6-194.6
-149.9-212.2-221.0-258.7
-289.2-302.9-304.4
- 0 . 5
.0_ 4
.5
.41.0
.0
.5- 1 . 1
.11.5
1.82.5
13.413.47.1
4.614.625.631.125.1
24.828.526.940.358.1
56.154.340.138.444.8
30.117.1
26.548.359.056.351.237.040.2
43.948.245.741.3
36.133.830.320.2
14.616.515.422.0
16.617.79.2
0.9.7.7
04 - 2 . 0
00001.1
1.21.1000
00000
00
0000000
0000
0000
0000
000
77.6
82.082.291.898.4
109.3
124.2134.3131.6141.7157.0
155.2176.8202.7251.8250.9
247.4295.2349.1423.3482.2
479.1567.5500.9511.7624.9
596.5575.9594.2675.6742.9
723.4730.1
448.4556.3616.5597.8548.1643.0694.7
749.2751.1730.1741.3
741.4757.7719.0675.7
767.5728.4709.9714.6
706.5713.8732.0
78.8
78.777.987.993.4
101.7
118.0130.4128.0139.9155.2
150.3175.5205.6243.1245.8
226.0286.4358.3434.0480.2
467.6558.0503.4546.7718.9
714.5717.6749.3793.6832.3
799.5721.1
464.2614.8722.8737.0697.1800.2814.8
843.9840.3819.6825.2
820.3833.0805.7739.0
705.4710.2732.8736.1
722.4773.2781.6
-1 .2
3.24.33.95.07.5
6.23.93.51.71.8
4.91.3
- 2 . 98.75.1
21.48.8
-9 .2-10.7
2.0
11.59.5
- 2 . 5- 3 5 . 0-94.0
-118.1-141.7-155.1-118.0-89 .3
-76.19.0
-15.8-58.5
-106.3-139.1-149.0-157.1-120.1
-94.7-89.1-89.6-84.0
-79.0-75 .3-86.7-63.2
62.118.2
-22.9-21.5
-16.0-59.4-49.6
- 1 . 8
- 3 . 1- 2 . 2-1 .0-2 .0
- . 7
- . 72.8
.8- . 1
- 2 . 6
.03.11.1
- . 51.4
6.010.410.97.6
13.8
13.610.9
-7 .410.2
-9 .0
-13.91.2
-24.8- 2 8 . 4
1.1
5.421.9
-10.113.8
- 2 0 . 5- 5 . 9- 2 . 0
- 2 4 . 9- 2 5 . 4
-11.41.71.2
12.8
16.11.2
13.4- 9 . 1
13.427.130.516.4
29.030.935.1
1 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporateconsumption of fixed capital, and private wage accruals less disbursements.
2 Consists mainly of allocations of special drawing rights (SDRs).3 Net exports of goods and services plus net receipts of factor income from rest of the world less net transfers plus net capital
grants received by the United States. See also Table B-18.4 Consists of a U.S. payment to India under the Agricultural Trade Development and Assistance Act. This payment is included in
capital grants received by the United States, net.
Source-. Department of Commerce, Bureau of Economic Analysis.
378
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-27.—Personal saving, flow of funds accounts, 1946-92 :
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1946194719481949
1950195119521953195419551956.........195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
19901991
1990.1IIIII....IV....
1991:1IIIII....IV....
1992.1IIIII....
Per-sonalsaving
22.312.416.813.4
23.324.738.035.027.636.939.239.136.236.7
38.538.044.549.061.168.182.584.282.481.9
91.1103.3121.2157.4122.5155.0168.3193.0204.1214.0
213.9239.0262.8312.5384.4361.1438.2339.4381.0456.5
417.5351.2
475.8545.0286.2363.2
580.4240.7287.0296.6
490.9333.6298.6
Total
19.612.68.98.9
15.019.528 524.520.928.631.829.232.835.0
32 335.339 645.456.057.962 972.469.470.7
80.5107.4134.9146.4149.3174.4209.2254.0287.1327.6
326.9322.7386.8502.9565.1581.9609.0456.8535.3593.9
522.1422.0
697.4610.7367.5412.8
664.7362.9297.0363.2
569.7334.1316.0
Check-able
depos-its andcurren-
cy
5.6.0
- 2 . 920
2.74.616
.92.11.21.9
-.43.7
.99
- 1 . 0- 1 2
4.26.16.724
10.39.5
- 1 . 1
7.413 413.413.16.36.0
15.619.722.035.8
9.236.324.834.321.633.9
102.26.67.4
19.3
22.455.1
-13.968.244.3
- 9 . 2
57.941.499.421.5
162.578.9
163.0
Increase in
Timeand
savingsdepos-
its
6.33.52.32.6
2.44.8788.29.28.69.4
11.913 911.0
12 218.326126.226.327.919135.430 98.9
43.567 774.063.556.277.6
107.1106.699.674.4
124.972.0
122.6195.1218.8119.0108.9114.7154.8108.6
21.7-62.2
101.0-16.6-18 .9
21.3
42.5-82.6
-138.2-70.7
-63 .5-170.0-151.7
Moneymarketfund
shares
"i'ji1.3
.0- .26.0
30.6
24.590.732.8
-31 .144.08.7
39.628.123.585.9
44.228.6
100.8-55 .3
96.934.3
175.8-71 .4
- 6 . 516.4
96.6-46 .1-20 .3
financia 1 assets
Seuuiuieu
Govern-ment
securi-ties2
- 1 . 5.5
1.0.5
.9- .6743.7
.26.44.53.8
- 2 78.3
21.8
10- 1 . 0
3.73.7
13 6- 2 . 5
1327.6
- 5 . 5- 1 1 0
- .916.718.116.88.6
11.629.365.1
29.939.665.988.3
108.6126.1
-33 .5154.8178.2167.4
133.0-44 .5
279.9182.0130.4
-60 .3
-10 .3150.3
-160.3-157.7
184.231.5
-108.4
Corpo-rateequi-ties3
1.21.11.0
.7
.71.8151.0
.71.12.01.518
.6
o11
- 1 4- 1 . 5
- .2- 1 . 5
0- 3 . 1
61- 2 . 1
- .5- 4 4- 9 . 1- 4 . 4- 1 . 7- 5 . 0
1.2- 6 . 4
-11 .8-24 .8
-10 .6-37 .0-15.6
- 4 . 1-49.4-52.9
5.2-32 .1
-119.7-97.2
23.672.0
-24.741.865.112.1
31.849.292.4
114.4
115.5215.6230.5
Othersecuri-ties4
- 0 . 7- .7
.2_.2
- .6.62
.3- 1 . 1
1.01.21.11.5
18_ 5
51.4
.61.0436.982
11.7
7.472
- .39.5
15.2- 4 . 7
3.018.612.05.9
- 6 . 8- 7 . 1
-19.99.32.4
61.363.84.5
- 4 . 0-5 .9
19.013.4
101.774.7
-163.563.1
6.36.8
-43 .884.5
-93.2- 5 . 6
- 166.0
Insur-anceand
pensionre-
serves 5
5.15.4535.6
6.16.3777.97.88.59.59.5
10 411.9
11512113 013.916.417.019 318.819 921.8
24.228 048.539.943.771.956.678.695.0
101.8
118.5117.9153.5180.7183.0217.9249.0130.5218.9250.1
212.4285.5
162.4269.0141.6276.7
312.0229.3359.0241.7
167.1215.9332.2
Otherfinan-cialas-
sets6
3.72.7221.6
2.92.0242.42.01.73.41.94.31.9
374.4252.13.23.2416.8573.9
4.1659.48.29.2
10.317.025.635.038.8
37.310.322.630.336.167.973.949.676.165.7
45.974.1
- 9 . 846.971.674.8
48.640.095.0
113.0
.513.936.8
Net investment in
tangible assets 7
Owner-occu-pied
iomes
3.86.8938.5
11.911.911512.613.017.116.013.612 619.5
17 416 318 220.522.121.619 018.519.919.9
17.727 836.740.230.428.144.765.878.575.2
51.350.530.071.393.693.6
119.4123.3126.5113.5
97.574.6
113.6104.391.880.2
67.571.078.881.3
82.789.151.1
Con-sumerdura-bles
6.79.4
10.210.9
14.911.4
8710.37.0
12.78.87.93.77.7
7.24.586
11.915.120.223 221.326 926.2
19.625 434.340.629.127.441.551.556.850.4
26.327.322.450.681.895.8
111.4102.9112.6109.3
85.141.6
104.887.381.566.7
40.038.948.139.6
55.852.661.5
Non-cor-
poratebusi-nessas-
sets8
2.0- 5 . 1- 1 1
58
- 1 . 8- 4 . 9
211.12.03.21.22.53.21.3
222.9434.74.48.4797.3
10.211.7
10.115.118.123.211.66.14.0
16.323.132.0
14.227.510.1
-11 .824.326.816.012.37.4
19.4
9.2-21 .6
11.615.411.9
- 2 . 0
-17.6-14 .3-19.2-35.2
-19 .9-14.7-13.9
Less: Net increase in
Mort-gagedebton
non-farm
homes
4.14.94.84.2
7.06.4647.49.0
12.210.88.695
12.9
11012.213 816.216.816.812 713.116 717.4
13.026 339.343.634.239.362.093.0
109.9116.2
96.876.158.1
125.4143.2164.2251.9234.6241.2244.7
218.9141.7
332.5187.9193.3161.8
152.6157.7122.0134.7
209.1121.1146.6
ueui
Con-sumercredit
3.13.7323.2
4.63.3334.11.37.03.62.6
37.7
402.2598.59.5
10.1595.1
10 89.9
4.614.019.022.79.48.0
22.936.745.140.5
2.616.916.448.981.782.357.532.950.141.7
17.5-12 .5
40.821.414.4
- 6 . 6
-10.4- 7 . 8
-24 .0- 8 . 0
3.1-12.4
.4
Otherdebt 8 9
2.62.7261.8
5.23.5322.04.95.44.22.96.46.2
5.66.6658.9
10.213.111817.016.419.4
19.232.044.526.754.333.746.164.886.4
114.5
105.396.1
112.0126.2155.5190.7108.188.4
109.593.2
59.936.3
78.263.358.939.4
31.967.919.825.7
-14.618.7
-30.8
1 Saving by households, personal trust funds, nonprofit institutions, farms, and other noncorporate business.2 Consists of U.S. savings bonds, other U.S. Treasury securities, U.S. Government agency securities and sponsored agency securities,mortgage pool securities, and State and local obligations.3 Includes mutual fund shares.
5 Private life insurance reserves, private insured and nomnsured pension reserves, and government insurance and pension reserves.6 Consists of security credit, mortgages, accident and health insurance reserves, and nonlife insurance claims for households, and ofconsumer credit, equity in sponsored agencies, and nonlife insurance claims for noncorporate business.7 Purchases of physical assets less depreciation.8 Includes data for corporate farms.
9 Other debt consists of security credit, U.S. Government and policy loans, and noncorporate business debt.Source: Board of Governors of the Federal Reserve System.
379
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TABLE B-28.—Median money income (in 1991 dollars) and poverty status of families and persons, by race,
selected years, 1971-91
Year
Families 1
Num-ber
(mil-lions)
Medianmoneyincome
(in1991dol-
lars) 2
Below poverty level
Total
Num-ber
(mil-lions)
Per-cent
Femalehouseholder
Num-ber
(mil-lions)
Per-cent
Personsbelow
poverty level
Num-ber
(mil-lions)
Per-cent
Median money income (in 1991 dollars)of persons 15 years old and over with
income 2 3
Males
Allpersons
Year-round
full-timeworkers
Females
Allpersons
Year-round
full-timeworkers
ALL RACES
197119731975 4
197719781979 5
1980198119821983 4
1984198519861987 4
1988198919901991WHITE
197119731975 4 .197719781979 8
1980.1981.19821983 4
1984.198519861987 4
1988198919901991.BLACK
1971.19731975 4
197719781979 5
1980.198119821983 4 .1984 .1985.19861987 4 .1988.198919901991
53.355.156.257.257.859.660.361.061.462.062.763.664.565.265.866.166.367.2
47.648.949.950.550.952.252.753.353.453.954.455.055.756.156.556.656.857.2
5.25.45.65.85.96.26.36.46.56,76.86.97.17.27.47.57.57.7
$32,50234,77433,24834,50035,59436,05134,79133,84333,38533,74134,65035,10736,60737,13137,06237,57936,84135,939
33,72536,34434,57836,07637,06337,61936,24935,55035,05235,33136,29336,90138,28638,82839,04739,51438,46837,783
20,35120,97521,27620,60921,95121,30220,974 ,20,05419,37319,91220,22821,24821,87722,06822,25422,19722,32521,548
5.34.85.55.35.35.56.26.97.57.67.37.27.07.06.96.87.17.7
3.83.23.83.53.53.64.24.75.15.24.95.04.84.64.54.44.65.0
1.51.51.51.61.61.71.82.02.22.22.12.02.02.12.12.12.22.3
10.08.89.79.39.19.2
10.311.212.212.311.611.410.910.710.410.310.711.5
7.96.67.77.06.96.98.08.89.69.79.19.18.68.17.97.88.18.8
28.828.127.128.227.527.828.930.833.032.330.928.728.029.428.227.829.330.4
2.12.22.42.62.72.63.03.33.43.63.53.53.63.73.63.53.84.2
1.21.21.41.41.31.41.61.81.81.91.92.02.02.01.91.92.02.2
.91.01.01.2
•1.21.21.31.41.51.51.51.51.51.61.61.51.61.8
33.932.232.531.731.430.432.734.636.336.034.534.034.634.233.432.233.435.6
26.524.525.924.023.522.325.727.427.928.327.127.428.226.926.525.426.828.4
53.552.750.151.050.649.449.452.956.253.751.750.550.151.149.046.548.151.2
25.623.025.924.724.526.129.331.834.435.333.733.132.432.231.731.533.635.7
17.815.1 |17.8 '16.416.317.219.721.623.524.023.022.922.221.220.720.822.323.7
7.47.47.57.77.68.18.69.29.79.99.58.99.09.59.49.39.8
10.2
12.511.112.311.611.411.713.014.015.015.214.414.013.613.413.012.813.514.2
9.98.49.78.98.79.0
10.211.112.012.111.511.411.010.410.110.010.711.3
32.531.431.331.330.631.032.534.235.635.733.831.331.132.431.330.731.932.7
$21,81423,24621,45521,81622,06421,68020,73620,36719,87420,04820,45020,64621,26821,32421,76921,85021,14720,469
22,87024,39222,53822,85023,11022,64822,05721,61121,01121,09221,58621,65922,44322,66622,97922,91622,06121,395
13,63914,75413,47513,56013,84414,01913,25412,85112,59112,33512,38513,63013,44913,44613,86613,85013,40912,962
$30,43533,09231,34532,47732,41032,17131,73031,27930,85230,77631,46631,64432,17831,98931,47931,21530,19830,331
31,29134,05032,07033,14133,01133,10032,63532,01431,67431,59832,54432,52233,07732,73532,53832,59131,34730,953
21,39722,94923,86722,84825,28323.85522,96222,65122,49622,52922,21022,74823,32123,40623,85122,74122,38522,628
$7,6108,0688,2048,4938,2088,0108,1428,2518,3878,7599,0039,1359,4579,945
10,22810,57110,49410,476
7,7368,1468,2888,6228,3078,0858,1878,3438,5018,9129,1099,3129,643
10,19910,48010,77710,75110,721
6,7787,3527,5307,4467,4807,3587,5807,4127,4987,6158,0807,9458,1608,3318,4618,6508.6788,816
$18,01618,72218,70718,99519,45319,38319,18218,83119,46519,81220,21620,57220,93121,05821,35121,57021,45721,245
18,22419,03918,75119,11519,63719,55219,36819,14519,72820,07720,41720,86321,25121,44821,67121,82621,71621,555
16,09116,14517,91417,86518,20017,91618,06317,29017,63217,82218,39918,46818,59619,15719,41919,62919,32419,134
xThe term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residing together; all suchpersons are considered members of the same family. Beginning 1979, based on householder concept and restricted to primary families.
2 Current dollar median money income deflated by CPI-U-X1.3 Prior to 1979, data are for persons 14 years and over.4 Based on revised methodology; comparable with succeeding years.5 Based on 1980 census population controls; comparable with succeeding years.
Note.—Poverty rates (percent of persons below poverty level) for all races for years not shown above are: 1959, 22.4; 1960, 22.2;1961, 21.9; 1962, 21.0; 1963, 19.5; 1964, 19.0; 1965, 17.3; 1966, 14.7; 1967, 14.2; 1968, 12.8; 1969, 12.1; 1970, 12.6; 1972, 11.9;1974, 11.2; and 1976, 11.8.
The poverty level is based on the poverty index adopted by a Federal interagency committee in 1969, with minor revisionsimplemented in 1981. The poverty thresholds are updated every year to reflect changes in the consumer price index (CPI-U). Forfurther details, see "Current Population Reports," Series P-60, No. 181.
See "Current Population Reports," Series P-60, No. 180 for details regarding the median money income series.
Source: Department of Commerce, Bureau of the Census.
380
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POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY
TABLE B-29.—Population by age groups. 1929-92
[Thousands of persons]
July 1 TotalAge (years)
Under 5 5-15 16-19 20-24 25-44 45-64 65 andover
1929
1933
1939..
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
1965....1966....1967....1968....1969....
19701971197219731974
19751976197719781979
19801981198219831984
1985..1986..1987..1988..1989..
199019911992
121,767
125,579
130,880
132,122133,402134,860136,739138,397
139,928141,389144,126146,631149,188
152,271154,878157,553160,184163,026
165,931168,903171,984174,882177,830
180,671183,691186,538189,242191,889
194,303196,560198,712200,706202,677
205,052207,661209,896211,909213,854
215,973218,035220,239222,585225,055
227,726229,966232,188234,307236,348
238,466240,651242,804245,021247,342
249,924252,688255,414
11,734
10,612
10,418
10,57910,85011,30112,01612,524
12,97913,24414,40614,91915,607
16,41017,33317,31217,63818,057
18,56619,00319,49419,88720,175
20,34120,52220,46920,34220,165
19,82419,20818,56317,91317,376
17,16617,24417,10116,85116,487
16,12115,61715,56415,73516,063
16,45116,89317,22817,54717,695
17,84217,96318,05218,19518,508
18,87419,222
26,800
26,897
25,179
24,81124,51624,23124,09323,949
23,90724,10324,46825,20925,852
26,72127,27928,89430,22731,480
32,68233,99435,27236,44537,368
38,49439,76541,20541,62642,297
42,93843,70244,24444,62244,840
44,81644,59144,20343,58242,989
42,50842,09941,29840,42839,552
38,83838,14437,78437,52637,461
37,45037,40437,33337,59337,972
38,59239,201
9,127
9,302
9,822
9,8959,8409,7309,6079,561
9,3619,1199,0978,9528,788
8,5428,4468,4148,4608,637
8,7448,9169,1959,543
10,215
10,68311,02511,18012,00712,736
13,51614,31114,20014,45214,800
15,28915,68816,03916,44616,769
17,01717,19417,27617,28817,242
17,16716,81216,33215,82315,295
15,00515,02415,21515,19814,913
14,45213,949
10,694
11,152
11,519
11,69011,80711,95512,06412,062
12,03612,00411,81411,79411,700
11,68011,55211,35011,06210,832
10,71410,61610,60310,75610,969
11,13411,48311,95912,71413,269
13,74614,05015,24815,78616,480
17,20218,15918,15318,52118,975
19,52719,98620,49920,94621,297
21,59021,86921,90221,84421,737
21,47820,94220,38519,84619,442
19,30519,372
35,862
37,319
39,354
39,86840,38340,86141,42042,016
42,52143,02743,65744,28844,916
45,67246,10346,49546,78647,001
47,19447,37947,44047,33747,192
47,14047,08447,01346,99446,958
46,91247,00147,19447,72148,064
48,47348,93650,48251,74953,051
54,30255,85257,56159,40061,379
63,47065,52867,69269,73371,735
73,67375,65177,33878,59579,943
81,19282,439
21,076
22,933
25,823
26,24926,71827,19627,67128,138
28,63029,06429,49829,93130,405
30,84931,36231,88432,39432,942
33,50634,05734,59135,10935,663
36,20336,72237,25537,78238,338
38,91639,53440,19340,84641,437
41,99942,48242,89843,23543,522
43,80144,00844,15044,28644,390
44.50444,50044,46244,47444,547
44,60244,66044,85445,47145,882
46,28446,752
6,474
7,363
8,764
9,0319,2889,5849,86710,147
10,49410,82811,18511,53811,921
12,39712,80313,20313,61714,076
14,52514,93815,38815,80616,248
16,67517,08917,45717,77818,127
18,45118,75519,07119,36519,680
20,10720,56121,02021,52522,061
22,69623,27823,89224,50225,134
25,70726,22126,78727,36127,878
28,41629,00829,62630,12430,682
31,22431,754
Note.—Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.
All estimates are consistent with decennial census enumerations.
Source: Department of Commerce, Bureau of the Census.
381
334-230 0—92 13(QL3)Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-30.—Population and the labor force, 1929-92
[Monthly data seasonally adjusted, except as noted]
Year or month
192919331939
19401941194219431944
194519461947
194719481949
19501951195219536...195419551956195719581959
I9606...196119626...1963196419651966196719681969
1970197119726..19736..1974....1975....19761977....19786..1979....
1980....1981....1982....1983....1984....1985....1986 6 .1987....1988....1989....
1990...1991....1992....
Civiliannoninsti-tutionalpopula-t ion 1
Resi-dent
ArmedForces l
Laborforce
includ-ing
residentArmedForces
Employ-ment
includ-ing
residentArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-agri-
cultural
Un-em-ploy-ment
Thousands of persons 14 years of age and over
99,84099,90098,64094,64093,220
94,090103,070106,018
49,18051,59055,230
55,64055,91056,41055,54054,630
53,86057,52060,168
47,63038,76045,750
47,52050,35053,75054,47053,960
52,82055,25057,812
10,45010,0909,610
9,5409,1009,2509,0808,950
8,5808,3208,256
37,18028,67036,140
37,98041,25044,50045,39045,010
44,24046,93049,557
1,55012,8309,480
8,1205,5602,6601,070670
1,0402,2702,356
Thousands of persons 16 years of age and over
101,827103,068103,994
104,995104,621105,231107,056108,321109,683110,954112,265113,727115,329
117,245118,771120,153122,416124,485126,513128,058129,874132,028134,335
137,085140,216144,126147,096150,120153,153156,150159,033161,910164,863
167,745170,130172,271174,215176,383178,206180,587182,753184,613186,393
188,049189,765191,576
1,1692,1432,3862,2312,1422,0641,9651,9481,8471,788
1,8611,9002,0612,0062,0181,9462,1222,2182,2532,238
2,1181,9731,8131,7741,7211,6781,6681,6561,6311,597
1,6041,6451,6681,6761,6971,7061,7061,7371,7091,688
1,6371,5641,566
63,37764,16064,52465,24665,78567,08768,51768,87769,48670,157
71,48972,35972,67573,83975,10976,40177,89279,56580,99082,972
84,88986,35588,84791,20393,67095,45397,826100,665103,882106,559
108,544110,315111,872113,226115,241117,167119,540121,602123,378125,557
126,424126,867128,548
60,08762,10462,63663,41062,25164,23465,76466,01964,88366,418
67,63967,64668,76369,76871,32373,03475,01776,59078,17380,140
80,79681,34083,96686,83888,51587,52490,42093,67397,679100,421
100,907102,042101,194102,510106,702108,856111,303114,177116,677119,030
119,550118,440119,164
59,35060,62161,286
62,20862,01762,13863,01563,64365,02366,55266,92967,63968,369
69,62870,45970,61471,83373,09174,45575,77077,34778,73780,734
82,77184,38287,03489,42991,94993,77596,15899,009102,251104,962
106,940108,670110,204111,550113,544115,461117,834119,865121,669123,869
124,787125,303126,982
57,03858,34357,651
58,91859,96160,25061,17960,10962,17063,79964,07163,03664,630
65,77865,74666,70267,76269,30571,08872,89574,37275,92077,902
78,67879,36782,15385,06486,79485,84688,75292,01796,04898,824
99,303100,39799,526100,834105,005107,150109,597112,440114,968117,342
117,914116,877117,598
7,8907,6297,658
7,1606,7266,5006,2606,2056,4506,2835,9475,5865,565
5,4585,2004,9444,6874,5234,3613,9793,8443,8173,606
3,4633,3943,4843,4703,5153,4083,3313,2833,3873,347
3,3643,3683,4013,3833,3213,1793,1633,2083,1693,199
3,1863,2333,207
49,14850,71449,993
51,75853,23553,74954,91953,90455,72257,51458,12357,45059,065
60,31860,54661,75963,07664,78266,72668,91570,52772,10374,296
75,21575,97278,66981,59483,27982,43885,42188,73492,66195,477
95,93897,03096,12597,450101,685103,971106,434109,232111,800114,142
114,728113,644114,391
2,3112,2763,637
3,2882,0551,8831,8343,5322,8522,7502,8594,6023,740
3,8524,7143,9114,0703,7863,3662,8752,9752,8172,832
4,0935,0164,8824,3655,1567,9297,4066,9916,2026,137
7,6378,27310,67810,7178,5398,3128,2377,4256,7016,528
6,8748,4269,384
Unemploy-ment rate
Allwork-ers2
Civil-ian
work-ers3
Civil-ian
laborforcepar-tici-
pationrate4
Civil-ian
em-ploy-
ment/pop-ula-tion
ratio5
5.23.22.92.85.44.34.04.26.65.3
5.46.55.45.55.04.43.73.73.53.4
4.85.85.54.85.58.37.66.96.05.8
7.07.59.59.57.47.16.96.15.45.2
5.46.67.3
Percent
3.224.917.2
14.69.94.71.91.21.93.93.9
3.93.85.95.33.33.02.95.54.44.14.36.85.55.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.77.4
55.756.057.258.758.6
57.255.856.8
58.358.858.9
59.259.259.058.958.859.360.059.659.559.3
59.459.358.858.758.758.959.259.659.660.1
60.460.260.460.861.361.261.662.363.263.7
63.863.964.064.064.464.865.365.665.966.5
66.466.066.3
47.650.454.557.657.9
56.153.654.5
56.056.655.4
56.157.357.357.155.556.757.557.155.456.0
56.155.455.555.455.756.256.957.357.558.0
57.456.657.057.857.856.156.857.959.359.9
59.259.057.857.959.560.160.761.562.363.0
62.761.661.4
1 Not seasonally adjusted.2 Unemployed as percent of labor force including resident Armed Forces.3 Unemployed as percent of civilian labor force.4 Civilian labor force as percent of civilian noninstitutional population.5 Civilian employment as percent of civilian noninstitutional population.See next page for continuation of table.
382
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TABLE B-30.—Population and the labor force, 1929-92—Continued
[Monthly data seasonally adjusted, except as noted]
Year or month
1989: JanFebMar
May".!!!!!!!!!!JuneJulyAugSeptOctNovDec
1990: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1991: JanFebMarAprMayJuneJulyAug ,SeptOctNovDec
1992:JanFebMarAprMayJuneJulyAugSeptOctNovDec
Civiliannoninsti-tutionalpopula-tion1
185,644185,777185,897186,024186,181186,329186,483186,598186,726186,871187,017187,165187,293187,412187,529187,669187,828187,977188,136188,261188,401188,525188,697188,866188,977189,115189,243189,380189,522189,668189,839189,973190,122190,289190,452190,605190,759190,884191,022191,168191,307191,455191,622191,790191,947192,131192,316192,509
Resi-dent
ArmedForces1
1,6961,6841,6841,6841,6731,6661,6661,6881,7021,7091,7041,7001,6971,6781,6691,6571,6391,6301,6271,6401,6011,5701,6151,6171,6151,6021,4601,4561,4581,5051,6041^6161,6241,6141,6051,6041,5991,5851,5851,5771,5741,5701,5681,5661,5661,5521,5311,517
Laborforce
includ-residentArmedForces
Employ-ment
includingresidentArmedForces
rhousands of person
125,071124,816124,902125,230125,158125,646125,631125,840125,641125,946126,393126,236126,246126,301126,429126,406126,559126,275126,274126,461126,493126,535126,545126,835126,315126,621126,718127,069126,644126,876126,693126]598127 211127,289127,207127,340127,627127,770128,133128,320128,613128,868128,918128,970128,840128,618128,896129,108
118,387118,461118,698118,755118,788119,079119,133119,339119,045119,291119,669119,569119,640119,728119,938119,695119,976119,872119,562119,449119,372119,280119,043119,109118,509118,498118,256118,763118,137118,389118,315118438118 732118,594118,537118,356118,635118,547118,849119,095119,154119,080119,290119,346119,290119,239119,595119,828
Total
Civilian labor force
Employment
TotalAgri-cul-tural
> 16 years of age and over
123,375123,132123,218123,546123,485123,980123,965124,152123,939124,237124,689124,536124,549124,623124,760124,749124,920124,645124,647124,821124,892124,965124,930125,218124,700125,019125,258125,613125,186125,371125,089124^982125,587125,675125,602125,736126,028126,185126,548126,743127,039127,298127,350127,404127,274127,066127,365127,591
116,691116,777117,014117,071117,115117,413117,467117,651117,343117,582117,965117,869117,943118,050118,269118,038118,337118,242117,935117,809117,771117,710117,428117,492116,894116,896116,796117,307116,679116,884116 711116^522117,108116,980116,932116,752117,036116,962117,264117,518117,580117,510117,722117,780117,724117,687118,064118,311
3,2913,2313,1963,1593,1253,0753,2233,2753,2173,2123,1473,1973,1573,1193,2193,1603,2863,2623,1043,1383,1703,1933,1713,2703,1773,2233,1243,1833,2653,2833,25032583,2773,2193,2893,1693,1463,2133,1943,2063,1863,2443,2073,2183,2213,1693,2093,262
Non-agri-
cultural
113,400113,546113,818113,912113,990114,338114,244114,376114,126114,370114,818114,672114,786114,931115,050114,878115,051114,980114,831114,671114,601114,517114,257114,222113,717113,673113,672114,124113,414113,601113,461113^264113,831113,761113,643113,583113,890113,749114,070114,312114,394114,266114,515114,562114,503114,518114,855115,049
Un-em-ploy-ment
6,6846,3556,2046,4756,3706,5676,4986,5016,5966,6556,7246,6676,6066,5736,4916,7116,5836,4036,7127,0127,1217,2557,5027,7267,8068,1238,4628,3068,5078,4878,37884608,4798,6958,6708,9848,9929,2239,2849,2259,4599,7889,6289,6249,5509,3799,3019,280
Unemploy-ment rate
Allwork-ers2
Civil-ian
work-ers3
Civil-ian
laborforcepar-tici-
pationrate4
Civil-ianem-ploy-
ment/pop-ula-tion
ratio5
Percent
5.35.15.05.25.15.25.25.25.25.35.35.35.25.2515.35.25.15.35.55.65.75.96.16.26.46.76.56.76.76.667676.86.87.17.07.27.27.27.47.67.57.57.47.37.27.2
5.45.25.05.25.25.35.25.25.35.45.45.45.35.35.25.45.35.15.45.65.75.86.06.26.36.56.86.66.86.86.76.86.86.96.97.17.17.37.37.37.47.77.67.67.57.47.37.3
66.566.366.366.466.366.566.566.566.466.566.766.566.566.566 566.566.566.366.366.366.366.366.266.366.066.166.266.366.166.165.965.866166.065.966.066.166.166.266.366.466.566.566.466.366.166.266.3
62.962.962.962.962.963.063.063.162.862.963.163.063.063.063162.963.062.962.762.662.562.462.262.261.961.861.761.961.661.661.561.361.661.561.461.361.461.361.461.561.561.461.461.461.361.361.461.5
6 Not strictly comparable with earlier data due to population adjustments as follows: Beginning 1953, introduction of 1950 censusdata added about 600,000 to population and 350,000 to labor force, total employment, ana agricultural employment. Beginning 1960,inclusion of Alaska and Hawaii added about 500,000 to population, 300,000 to labor force, and 240,000 to nonagriculturaf employment.Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force and employment by 200,000.Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutional population and 333,000 to laborforce ana employment. A subsequent adjustment based on 1970 census in March 1973 added 60,000 to labor force and to employment.Beginning 19/8, changes in sampling and estimation procedures introduced into the household survey added about 250,000 to laborforce and to employment. Unemployment levels and rates were not significantly affected. Beginning 1986, the introduction of revisedpopulation controls added about 400,000 to the civilian population ana labor force and 350,000 to civilian employment. Unemploymentlevels and rates were not significantly affected.
Note.—Labor force data in Tables B-30 through B-39 are based on household interviews and relate to the calendar week includingthe 12th of the month. For definitions of terms, area samples used, historical comparability of the data, comparability with other series,etc., see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
383
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TABLE B-31.—Civilian employment and unemployment by sex and age, 1947-92
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year or month
Civilian employment
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Unemployment
TotalTotal 16-19
years
20yearsandover
Females
Total 16-19years
20yearsandover
19471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921991: Jan..
Feb..Mar.Apr..May.JuneJuly.Aug.SeptOct..Nov.Dec.
1992: Jan.Feb..Mar.May"JuneJuly.Aug.SeptOct..Nov.Dec.
57,03858,34357,65158,91859,96160,25061,17960,10962,17063,79964,07163,03664,63065,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,82499,303100,39799,526100,834105,005107,150109,597112,440114,968117,342117,914116,877117,598116,894116,896116,796117,307116,679116,884116,711116,522117,108116,980116,932116,752117,036116,962117,264117,518117,580117,510117,722117,780117,724117,687118,064118,311
40,99541,72540,92541,57841,78041,68242,43041,61942,62143,37943,35742,42343,46643,90443,65644,17744,65745,47446,34046,91947,47948,11448,81848,99049,39050,89652,34953,02451,85753,13854,72856,47957,60757,18657,39756,27156,78759,09159,89160,89262,10763,27364,31564,43563,59363,80563,81663,62363,58963,76563,49863,54563,46863,41763,70363,60863,58963,39863,46663,35163,54763,77763,83063,75163,83063,90163,97663,92464,04364,194
2,2182,3442,1242,1862,1562,1072,1361,9852,0952,1642,1152,0122,1982,3612,3152,3622,4062,5872,9183,2533,1863,2553,4303,4093,4783,7654,0394,1033,8393,9474,1744,3364,3004,0853,8153,3793,3003,3223,3283,3233,3813,4923,4773,2372,8792,7863,0103,0312,9822,8902,9052,8602,8042,8052,8662,8322,7972,7292,8022,7452,7042,7442,7432,7242,7602,7972,8512,8362,8372,868
38,77639,38238,80339,39439,62639,57840,29639,63440,52641,21641,23940,41141,26741,54341,34241,81542,25142,88643,42243,66844,29444,85945,38845,58145,91247,13048,31048,92248,01849,19050,55552,14353,30853,10153,58252,89153,48755,76956,56257,56958,72659,78160,83761,19860,71461,01960,80660,59260,60760,87560,59360,68560,66460,61260,83760,77660,79260,66960,66460,60660,84361,03361,08761,02761,07061,10461,12561,08861,20661,326
16,04516,61716,72317,34018,18118,56818,74918,49019,55120,41920,71420,61321,16421,87422,09022,52523,10523,83124,74825,97626,89327,80729,08429,68829,97631,25732,71533,76933,98935,61537,28939,56941,21742,11743,00043,25644,04745,91547,25948,70650,33451,69653,02753,47953,28453,79353,07853,27353,20753,54253,18153,33953,24353,10553,40553,37253,34353,35453,57053,61153,71753,74153,75053,75953,89253,87953,74853,76354,02154,117
1,6911,6821,5881,5171,6111,6121,5841,4901,5471,6541,6631,5701,6401,7681,7931,8331,8491,9292,1182,4682,4962,5262,6872,7352,7302,9803,2313,3453,2633,3893,5143,7343,783
3,6253,4113,1703,0433,1223,1053,1493,2603,3133,2823,0242,7492,6132,8202,8672,8612,8922,7722,7622,6452,5622,6802,7072,7282,6722,6812,6862,6032,6052,6462,5262,5852,6322,6072,5812,5862,623
14,35414,93615,13715,82416,57016,95817,16417,00018,00218,76719,05219,04319,52420,10520,29620,69321,25721,90322,63023,51024,39725,28126,39726,95227,24628,27629,48430,42430,72632,22633,77535,83637,43438,49239,59040,08641,00442,79344,15445,55647,07448,38349,74550,45550,53551,18150,25850,40650,34650,65050,40950,57750,59850,54350,72550,66550,61550,68250,88950,92551,11451,13651,10451,23351,30751,24751,14151,18251,43551,494
2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4256,7016,5286,8748,4269,3847,8068,1238,4628,3068,5078,4878,3788,4608,4798,6958,6708,9848,9929,2239,2849,2259,4599,7889,6289,6249,5509,3799,3019,280
1,6921,5592,5722,2391,2211,1851,2022,3441,8541,7111,8413,0982,4202,4862,9972,4232,4722,2051,9141,5511,5081,4191,4032,2382,7892,6592,2752,7144,4424,0363,6673,1423,1204,2674,5776,1796,2604,7444,5214,5304,1013,6553,5253,7994,8175,3804,3374,6624,8964,7854,8424,8804,9154,8534,9394,8994,8955,1015,1745,3245,3605,2665,4975,6665,4855,5315,4775,4105,2925,200
270256353318191205184310274269300416398426479408501487479432448426440599693711653757966939874813811913962
1,0901,003812806779732667658629709761700667731708753730722678699693707720717769767727740880773778797687758741
1,4221,3052,2191,9221,029980
1,0192,0351,5801,4421,5412,6812,0222,0602,5182,0161,9711,7181,4351,1201,060993963
1,6382,0971,9481,6241,9573,4763,0982,7942,3282,3083,3533,6155,0895,2573,9323,7153,7513,3692,9872,8673,1704,1094,6193,6373,9954,1654,0774,0894,1504,1934,1754,2404,2064,1884,3814,4574,5554,5934,5394,7574,7864,7124,7534,6804,7234,5344,459
619717
1,0651,049834698632
1,188998
1,0391,0181,5041,3201,3661,7171,4881,5981,5811,4521,3241,4681,3971,4291,8552,2272,2222,0892,4413,4863,3693,3243,0613,0183,3703,6964,4994,4573,7943,7913,7073,3243,0463,0033,0753,6094,0053,4693,4613,5663,5213,6653,6073,4633,6073,5403,7963,7753,8833,8183,8993,9243,9593,9624,1224,1434,0934,0733,9694,009
144153223195145140123191176209197262256286349313383385395405391412413506568598583665802780789769743755800886825687661675616558536519581591634565571595560541587576535633563610564585580561598673616567603573612564
475564841854689559510997823832821
1,2421,0631,0801,3681,1751,2161,1951,056
9211,078
9851,0151,3491,6581,6251,5071,7772,6842,5882,5352,2922,2762,6152,8953,6133,6323,1073,1293,0322,7092,4872,4672,5553,0283,4132,8352,8962,9952,9263,1053,0662,8763,0313,0053,1633,2123,2733,2543,3143,3443,3983,3643,4493,5273,5263,4703,3963,3973,516
Note.—See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
384
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TABLE B-32.—Civilian employment by demographic characteristic, 1954-92
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year ormonth
Allcivilianworkers
White
Total Males Fe-males
Bothsexes16-19
Black and other
Total MalesFe-
males
Bothsexes16-19
Black
Total MalesFe-
males
Bothsexes16-19
195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
199019911992
1991:JanFeb....Mar....Apr....May...June...
July....Aug....Sept...Oct....Nov....Dec...
1992: JanFeb....Mar....Apr....May...June...
July....Aug....Sept...Oct....Nov....Dec...
60,10962,17063,79964,07163,03664,630
65,77865,74666,70267,76269,30571,08872,89574,37275,92077,902
78,67879,36782,15385,06486,79485,84688,75292,01796,04898,824
99,303100,39799,526
100,834105,005107,150109,597112,440114,968117,342
117,914116,877117,598
116,894116,896116,796117,307116,679116,884
116,711116,522117,108116,980116,932116,752
117,036116,962117,264117,518117,580117,510
117,722117,780117,724117,687118,064118,311
53,95755,83357,26957,46556,61358,006
58,85058,91359,69860,62261,92263,44665,02166,36167,75069,518
70,21770,87873,37075,70877,18476,41178,85381,70084,93687,259
87,71588,70987,90388,89392,12093,73695,66097,78999,812
101,584
102,087101,039101,479
101,108101,189100,957101,398100,985101,056
100,828100,803101,102101,163101,051100,821
101,172101,085101,340101,479101,530101,307
101,558101,524101,412101,458101,816102,043
37,84638,71939,36839,34938,59139,494
39,75539,58840,01640,42841,11541,84442,33142,83343,41144,048
44,17844,59545,94447,08547,67446,69747,77549,15050,54451,452
51,12751,31550,28750,62152,46253,04653,78554,64755,55056,352
56,43255,55755,709
55,79555,64555,52555,70655,57655,498
55,43355,43855,58555,54355,55055,352
55,47655,38555,52355,70055,72455,606
55,73855,76255,80055,81155,88056,062
16,11117,11417,90118,11618,02218,512
19,09519,32519,68220,19420,80721,60222,69023,52824,33925,470
26,03926,28327,42628,62329,51129,71431,07832,55034,39235,807
36,58737,39437,61538,27239,65940,69041,87643,14244,26245,232
45,65445,48245,770
45,31345,54445,43245,69245,40945,558
45,39545,36545,51745,62045,50145,469
45,69645,70045,81745,77945,80645,701
45,82045,76245,61245,64745,93645,981
3,0783,2253,3893,3743,2163,475
3,7003,6933,7743,8514,0764,5625,1765,1145,1955,508
5,5715,6706,1736,6236,7966,4876,7247,0687,3677,356
7,0216,5885,9845,7995,8365,7685,7925,8986,0305,946
5,5184,9894,761
5,1935,2385,1375,1155,0034,960
4,7954,8234,9354,9364,9084,811
4,8564,7914,7034,7494,7824,582
4,6914,7564,8074,7884,7864,833
6,1526,3416,5346,6046,4236,623
6,9286,8337,0037,1407,3837,6437,8778,0118,1698,384
8,4648,4888,7839,3569,6109,4359,899
10,31711,11211,565
11,58811,68811,62411,94112,88513,41413,93714,65215,15615,757
15,82715,83816,119
15,82015,78115,84815,90615,69615,804
15,89615,78315,96815,82215,82115,912
15,91015,97215,94316,03816,04916,160
16,17116,30616,25316,21216,19016,214
3,7733,9044,0134,0063,8333,971
4,1494,0684,1604,2294,3594,4964,5884,6464,7024,770
4,8134,7964,9525,2655,3525,1615,3635,5795,9366,156
6,0596,0835,9836,1666,6296,8457,1077,4597,7227,963
8,0038,0368,096
8,0508,0318,0758,0487,8958,010
8,0578,0048,0728,0698,0658,051
8,0358,0458,0358,0698,0758,090
8,1018,1478,1278,1178,1788,118
2,3792,4372,5212,5982,5902,652
2,7792,7652,8432,9113,0243,1473,2893,3653,4673,614
3,6503,6923,8324,0924,2584,2754,5364,7395,1775,409
5,5295,6065,6415,7756,2566,5696,8307,1927,4347,795
7,8257,8028,023
7,7707,7507,7737,8587,8017,794
7,8397,7797,8967,7537,7567,861
7,8757,9277,9087,9697,9748,070
8,0708,1598,1268,0958,0128,096
396418430407365362
430414420404440474545568584609
574538573647652615611619703727
689637565543607666681742774813
743639637
664657679672673656
650578608609630606
654649596609606637
645700642637632645
7,8028,1288,2037,8948,2278,5409,1029,359
9,3139,3559,1899,375
10,11910,50110,81411,30911,65811,953
11,96611,86311,933
11,88611,86211,94711,95711,77211,833
11,89311,77011,99711,79611,77511,868
11,86011,81811,81411,85711,85811,971
11,97912,09812,03311,98411,94811,960
4,3684,5274,5274,2754,4044,5654,7964,923
4,7984,7944,6374,7535,1245,2705,4285,6615,8245,928
5,9155,8805,846
5,8835,8935,9435,9015,7495,856
5,8855,8265,9365,9035,8825,889
5,8805,8205,8085,8215,8195,856
5,8465,8765,8595,8475,8675,838
3,4333,6013,6773,6183,8233,9754,3074,436
4,5154,5614,5524,6224,9955,2315,3865,6485,8346,025
6,0515,9836,087
6,0035,9696,0046,0566,0235,977
6,0085,9446,0615,8935,8935,979
5,9805,9986,0066,0366,0396,115
6,1336,2226,1746,1376,0816,122
509570554507508508571579
547505428416474532536587601625
573474474
506486505493499483
475416469451465449
522497463454450469
475510469443454482
Note.—See footnote 6 and Note, Table B-30.
Source: Department of Labor, Bureau of Labor Statistics.
385
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-33.—Unemployment by demographic characteristic, 1954-92
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year ormonth
195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
199019911992
1991:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992: JanFebMarAprMayJune
JulyAugSeptOctNovDec
AllAll
civilianworkers
3 5322,8522,7502,8594,6023,740
3,8524,7143,9114,0703,7863,3662,8752,9752,8172,832
4,0935,0164,8824,3655,1567,9297,4066,9916,2026,137
7,6378,27310,67810,7178,5398,3128,2377,4256,7016,528
6,8748,4269,384
7,8068,1238,4628,3068,5078,487
8,3788,4608,4798,6958,6708,984
8,992- 9,223
9,2849,2259,4599,788
9,6289,6249,5509,3799,3019,280
White
Total
2 8592,2522,1592,2893,6802,946
3,0653,7433,0523,2082,9992,6912,2552,3382,2262,260
3,3394,0853,9063,4424,0976,4215,9145,4414,6984,664
5,8846,3438,2418,1286 372s',m6,1405,5014,9444,770
5,0916,4477,047
5,9586,2046,5036,2886,4886,565
6,5286,4546,4646,5726,6536,890
6,8206,9867,0656,9337,0217,364
7,2257,1837,1947,0256,9076,903
Males
1,9131,4781,3661,4772,4891,903
1,9882,3981,9151,9761,7791,5561,2411,2081,1421,137
1,8572,3092,1731,8362,1693,6273,2582,8832,4112,405
3,3453,5804,8464,8593 6003.A263,4333,1322,7662,636
2,8663,7754,121
3,4053,6453,8743,7183,7593,802
3,9053,7783,8923,8413,8703,959
4,0324,1294,1514,0664,2044,343
4,1794,1864,2044,0784,0283,918
Fe-males
946774793812
1,1911,043
1,0771,3451,1371,2321,2201,1351,0141,1301,0841,123
1,4821,7771,7331,6061,9272,7942,6562,5582,2872,260
2,5402,7623,3953,2702 7722>652,7082,3692,1772,135
2,2252,6722,926
2,5532,5592,6292,5702,7292,763
2,6232,6762,5722,7312,7832,931
2,7882,8572,9142,8672,8173,021
3,0462,9972,9902,9472,8792,985
Bothsexes16-19
423373382401541525
575669580708708705651635644660
8711,0111,021955
1,1041,4131,3641,2841,1891,193
1 29113741,5341,3871 11610741,070995910863
856977983
1,011909966976
1,027989
1,020927913981978
1,038
9381,0081,040936961
1,140
1,003970
1,009880984936
Black and other
Total
673601591570923793
788971861863787678622638590571
754930977924
1,0581,5071,4921,5501 505M731 752l]9302,4372,5882,1672il212,0971,9241,7571,757
1,7831,9792,337
1,9111,9041,9781,9891,9821,949
1,8661,9762,0172,1011,9732,099
2,2782,2402,2402,2612,3822,445
2,4132,4062,3422,3262,3432,378
Males
431376345364610517
498599509496426360310300277267
380481486440544815779784731714
922997
1,3341,4011 144l',0951,097969888889
9331,0431,259
1,0001,0151,0481,0651,0661,060
1,0121,0411,0561,0321,0051,116
1,2511,2121,2301,1901,2681,297
1,2931,3051,2741,2981,2471,255
Fe-males
242225246206313276
290372352367361318312338313304
374450491484514692713766774759
830933
1,1041,1871 022l!026999955869868
850936
1,079
911889930924916889
854935961
1,069968983
1,0271,0281,0101,0711,1141,148
1,1201,1011,0681,0281,0961,123
Bothsexes16-19
79779596138128
138159142176165171186203194193
235249288280318355355379394362
377388443441384394383353316331
292313369
317319357322288265
295322331340286307
338346321348381395
389368401375384383
Black
Total
906"846965
1,3691,3341,3931 330U191,5531,7312,1422,2721914l!8641,8401,6841,5471,544
1,5271,6791,958
1,6321,6051,6751,6991.7021,678
1,5921,6681,7051,7731,6711,752
1,8821,8971,9151,8992,0112,030
2,0162,0081,9481,9641,9461,975
Males
'448395494741698698641636
815891
1,1671,2131003951946826771773
793874
1,046
846850867904904908
862867893852835913
1,0151,0211,049990
1,0611,075
1,0581,0801,0651,0751,0251,043
Fe-males
458451470629637695690683
738840975
1,059911913894858776111
734805912
786755808795798770
730801812921836839
867876866909950955
958928883889921932
Bothsexes16-19
279262297330330354360333
343357396392353357347312288300
258270313
283263312284252241
250270286288251263
288305276297333326
323305342324320316
Note.—See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
386
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-34.—Civilian labor force participation rate and employment/population ratio, 1948-92
[Percent;1 monthly data seasonally adjusted]
Year or month
Labor force participation rate
civilianwork-
MalesFe-
males
Bothsexes16-19years
WhiteBlackand
otherBlack
Employment/population ratio
Allcivilianwork-
ers
MalesFe-
males
Bothsexes16-19years
WhiteBlackand
otherBlack
1948
1949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
199019911992
1991: JanFebMarAprMayJun
JulAugSepOctNovDec
1992: JanFebMarApr
MayJun
JulAugSepOctNovDec
58.858.959.259.259.058.958.859.360.059.659.559.359.459.358.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.966.566.466.066.3 j
66.066.166.266.366.166.1
65.965.866.166.065.966.0
66.166.166.266.366.466.5
66.566.466.366.166.266.3
I
86.686.486.486.386.386.085.585.485.584.884.283.783.382.982.081.481.080.780.480.480.179.879.779.178.978.878.777.977.577.777.977.877.477.076.676.476.476.376.376.276.276.476.175.575.6
75.675.775.975.975.675.6
75.575.375.775.475.375.3
75.475.375.575.675.975.9
75.775.875.775.575.475.4
32.733.133.934.634.734.434.635.736.936.937.137.137.738.137.938.338.739.340.341.141.642.743.343.443.944.745.746.347.348.450.050.951.552.152.652.953.654.555.356.056.657.457.557.357.8
57.257.457.457.657.457.4
57.157.157.357.557.457.5
57.657.757.857.857.857.9
58.057.957.757.657.857.9
52.552.251.852.251.350.248.348.950.949.647.446.747.546.946.145.244.545.748.248.448.349.449.949.751.953.754.854.054.556.057.857.956.755.454.153.553.954.554.754.755.355.953.751.751.3
52.852.752.952.752.051.5
50.749.751.051.851.351.0
51.451.750.550.451.251.8
51.351.552.150.651.451.6
58.258.759.459.158.958.758.858.858.358.258.258.458.759.259.359.960.260.160.460.861.461.561.862.563.363.964.164.364.364.364.665.065.565.866.266.766.866.6
66.566.766.766.866.666.7
66.566.466.566.666.566.5
66.666.666.866.866.866.8
66.966.866.766.566.666.7
56.6
55.4
56.1
64.064.264.964.464.864.364.564.163.263.063.162.963.062.862.262.161.860.960.260.560.359.659.860.462.262.261.761.361.662.162.663.363.764.364.064.763.763.1
66.7| 63.8
I63.463.163.563.662.862.9
62.862.763.463.062.463.1
63.663.563.363.663.964.4
64.264.564.063.763.563.6
59.960.259.858.859.059.861.561.461.060.861.061.562.262.963.363.863.864.263.362.6
63.062.763.363.462.562.6
62.362.163.262.561.862.6
63.062.862.862.963.363.8
63.764.163.563.262.963.0
57.357.357.155.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.057.857.856.156.857.959.359.959.259.057.857.959.560.160.761.562.363.062.761.6
83.5
81.3
82.0
63.3 II 61.4
il61.961.861.761.961.661.6
61.561.361.661.561.461.3
61.461.361.461.561.561.4
61.461.461.361.361.461.5
84.083.983.681.081.882.381.378.579.378.977.677.777.177.377.577.978.077.877.676.274.975.075.574.971.772.072.873.873.872.071.369.068.870.770.971.071.572.072.571.970.2
31.3
31.2
32.033.133.433.332.534.035.135.134.535.035.535.435.635.836.337.138.339.039.640.740.840.441.042.042.642.043.244.546.447.547.748.047.748.049.550.451.452.553.454.354.353.7
47.7
45.2
45.5
69.7 | 53.8
I70.870.570.470.670.270.2
70.170.070.270.069.969.7
69.769.569.669.869.869.7
69.769.769.769.669.669.7
53.753.953.854.153.753.8
53.653.553.753.753.653.6
53.853.853.853.853.853.8
53.953.853.653.653.853.9
47.946.946.442.343.545.343.939.939.940.539.139.437.437.338.942.142.242.243.442.341.343.545.946.043.344.246.148.348.546.644.641.541.543.744.444.645.546.847.545.442.141.0
43.043.643.343.042.342.0
40.940.341.741.841.740.9
41.641.440.340.641.040.0
40.841.341.441.041.141.7
55.256.557.356.855.355.955.955.355.455.355.556.056.857.257.458.057.556.857.458.258.356.757.558.660.060.660.060.058.858.960.561.061.562.363.163.863.662.662.4
62.862.862.662.962.662.6
62.462.462.562.562.462.2
62.462.362.462.562.562.3
62.462.462.362.262.462.5
58.058.759.559.356.757.557.956.256.356.257.057.858.458.258.058.156.854.954.155.054.351.452.052.554.755.253.652.650.951.053.654.755.456.857.458.257.356.1
55.7 | 54.3I
56.656.356.556.655.756.0
56.255.756.355.655.555.7
55.655.755.555.755.756.0
55.956.255.955.755.555.4
53.754.553.550.150.851.453.653.852.351.349.449.552.353.454.155.656.356.956.254.9
55.455.255.555.554.654.8
55.U54.455.354.354.254.5
54.454.154.154.254.154.6
54.555.054.654.354.154.0
1 Civilian labor force or civilian employment as percent of civilian noninstitutional population in group specified.
Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.
Source: Department of Labor, Bureau of Labor Statistics.
387
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-35.—Civilian labor force participation rate by demographic characteristic, 1934-92
[Percent;1 monthly data seasonally adjusted]
Year or month
1954195519561957195819591960196119621963196419651966196719681969197019711972
1972197319741975197619771978197919801981198219831984198519861987198819891990199119921991: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Allcivil-ian
work-ers
58 859.360.059.659.559.359.459.358.858.758.758.959.259 659.660.160.460.260.4
60.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.966.566.466.066.366.066.166.266.366.166.165.965.866.166.065.966.066.166.166.266.366.466.566.566.466.366.166.266.3
White
Total
58 258.759.459.158.958.758.858.858.358.258.258.458.759 259.359.960.260.160.4
60.460.861.461.561.862.563.363.964.164.364.364.364.665.065.565.866.266.766.866.666.766.566.766.766.866.666.766.566.466.566.666.566.566.666.666.866.866.866.866.966.866.766.566.666.7
Males
Total
85 685.485.684.884.383.883.483.082.181.581.180.880.680 680.480.280.079.679.6
79.679.479.478.778.478.578.678.678.277.977.477.177.177.076.976.876.977.176.976.476.476.576.576.676.676.576.476.476.276.476.376.276.076.276.276.476.476.676.676.576.476.576.276.276.2
16-19years
57 658.660.459.256.555.955.954.553.853.152.754.155.956 355.956.857.557.960.1
60.162.062.961.962.364.065.064.863.762.460.059.459.059.759.359.060.061.059.457.256.758.758.658.756.858.157.056.755.756.756.856.756.156.756.556.256.256.257.156.556.958.456.057.257.1
20yearsandover
87 887.587.686.986.686.386.085.784.984.484.283.983.683 583.283.082.882.382.0
82.081.681.480.780.380.280.180.179.879.579.278.978.778.578.578.478.378.578.377.877.877.877.978.078.177.877.877.877.777.977.777.777.577.777.777.877.978.178.077.977.977.877.777.677.6
Females
Total
33 334.535.735.735.836.036.536.936.737.237.538.139.240 140.741.842.642.643.2
43.244.145.245.946.948.049.450.551.251.952.452.753.354.155.055.756.457.257.557.457.857.357.557.457.757.557.757.357.357.357.657.557.657.757.757.957.857.757.858.057857.657.557.857.9
16-19years
40 640.743.142.240.139.640.340.639.838.737.839.242.642 543.044.645.645.448.1
48.150.151.751.552.854.556.757.456.255.455.054.555.455.256.356.557.257.155.454.352.655.455.054.456.654.354.352.452.253.354.754.354.453.053.552.852.053.252.152.352.352.451.952.552.6
20yearsandover
32 734.035.135.235.535.636.236.636.537.037.538.038.839 840.441.542.242.342.7
42.743.544.445.346.247.348.749.850.651.552.252.553.154.054.955.656.357.257.657.758.157.457.757.657.757.757.957.657.657.657.857.757.858.058.058.258.258.058.258.358.257.957.958.158.3
Black and other or black
Total
64 064.264.964.464.864.364.564.163.263.063.162.963.062 862.262.1
61.860.960.2
Males
Total
85 285.185.184.284.183.4
83.082.280.880.280.179.679.078 577.776.976.574.973.9
16-19years
20yearsandover
Females
Total
Black and other
61260.861.558.857.355.557.655.853.551.549.951.351.451 149.749.647.444.746.0
87 187.887.887.087.186.7
86.285.584.283.984.183.783.382 982.281.481.480.078.6
46 146.147.347.148.047.7
48.248.348.048.148.648.649.449 549.349.849.549.248.8
16-19years
31032.736.333.231.928.2
32.932.833.132.631.729.533.535 234.834.634.131.232.3
20yearsandover
47 747.548.448.649.849.849.950.149.649.950.751.151.651 651.452.051.851.851.2
Black
59.960.259.858.859.059.861.561.461.060.861.061.562.262.963.363.863.864.263.362.663.363.062.763.363.462.562.662.362.163.262.561.862.663.062.862.862.963.363.863.764.163.563.262.963.0
73.673.472.970.970.070.671.571.370.370.070.170.670.870.871.271.171.071.070.169.569.769.869.870.470.368.669.769.468.770.069.268.769.4
70.369.669.769.169.870.269.870.269.869.669.269.0
46.345.746.742.641.343.244.943.643.241.639.839.941.744.643.743.643.844.640.637.440.736.835.239.439.236.938.035.636.741.137.236.337.243.842.239.537.638.240.841.241.041.641.039.741.6
78.578.477.676.075.475.676.-276.375.174.574.775.274.874.474.874.774.674.473.873.473.173.874 074.274.072.673.573.472.673.573.072.573.273.472.873.272.873.473.673.173.673.173.072.672.1
48.749.349.048.849.850.853.153.153.153.553.754.255.256.556.958.058.058.757.857.058.057.456.857.557.857.456.756.656.657.657.056.356.957.157.357.257.758.058.658.759.158.358.057.75 8 ,
32.234.233.434.232.932.937.336.834.934.033.533.035.037.939.139.637.940.436.733.535.237.635.738.234.933.730.833.528.931.333.732.431.334.235.131.734.837.436.136.037.736.633.034.735.1
51.251.651.451.152.553.655.555.4
55.656.056.256.857.658.658.960.060.160.660.059.360.159.458.959.460.059.859.358.859.360.159.358.559.4
59.359.459.659.960.060.860.961.260.360.359.960.2
1 Civilian labor force a:Note.-Data relate to ,See footnote 6 and No'Source: Department of
is percent of civilian noninstitutiorral population in group specified,persons 16 years of age and overite, Table B-30.
Labor, Bureau of Labor Statistics.
388
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-36.—Civilian employment/population ratio by demographic characteristic, 1954-92
[Percent;1 monthly data seasonally adjusted]
Year or month
1954 . .19551956 .195719581959196019611962196319641965196619671968196919701971 .1972
197219731974197519761977 .19781979... .19801981 ....198219831984198519861987198819891990199119921991: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Allcivil-ian
work-ers
55 556.757 557.155.456.056155.455 555.455 756.256.957.357 558.057.456 657.0
57.057 857.856156.857 959.359.959.259.057 857.959 560.160 761.562 363.062.761.661.461.961 861.761.961.661.661.561.361.661561.461.361.461.36H61.561.561.461.461.461.361 361.461.5
White
Total
55.256.557.356.855.355.955.955.355.455.355.556.056.857.257.458.057.556.857.4
57.458.258.356.757.558.660.060.660.060.058.858.960.561.061.562.363.163.863.662.662.462.862.862.662.962.662.662.462.462.562.562.462.262.462.362.462.562.562.362.462.462.362.262.462.5
Males
Total
81.582.282.781.879.279.979.478.278.477.777.877.978.378.478.378.276.875.776.0
76.076.575.973.073.474.175.075.173.472.870.670.472.172.372.372.773.273.773.271.571.172.171.871.671.871.671.571.371.371.471.371.371.071.170.971.071.271.271.071.171.171.171.071.171.2
16-19years
49.952.054.152.447.648.148.145.946.444.745.047.150.150.250.351.149.649.251.5
51.554.354.450.651.554.456.355.753.451.347.047.449.149.949.649.951.752.651.047.246.348.949.348.347.047.346.545.946.547.247.046.745.846.845.744.946.245.845.045.946.447.447.147.147.2
20yearsandover
84.084.785.084.181.882.882.481.481.581.181.381.581.781.781.681.480.179.079.0
79.079.278.675.776.076.577.277.375.675.173.072.674.374.374.374.775.175.475.073.372.973.873.573.473.773.473.373.273.173.273.173.172.872.972.873.073.173.172.973.072.972.872.872.873.0
Females
Total
31.433.034.234.233.634.034.634.534.735.035.536.237.538.338.940.140.339.940.7
40.741.842.442.043.244.546.347.547.848.348.148.549.850.751.752.853.854.654.854.354.354.254.554.354.654.254.454.154.154.254.354.254.154.354.354.454.454.454.254.354.254.054.054.454.4
16-19years
36.437.038.938.235.034.835.134.634.832.932.233.737.537.737.839.539.538.641.3
41.343.644.342.544.245.948.549.447.946.244.644.547.047.147.949.050.250.548.546.144.346.647.547.048.246.046.344.044.145.646.046.045.245.145.144.444.245.342.543.844.444.244.143.944.6
20yearsandover
31.132.733.833.933.534.034.534.534.735.235.836.537.538.339.140.140.440.140.6
40.641.642.241.943.144.446.147.347.848.548.448.950.051.052.053.154.054.955.254.854.954.754.954.855.054.854.954.854.754.854.954.754.755.054.955.155.055.055.055.054.954.754.755.055.0
Black and other or black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
Black and other
53.754.553.550.150.851.453.653.852.351.349.449.552.353.454.155.656.356.956.254.954.355.455.255.555.554.654.855.054.455.354.354.254.554.454.154.154.254.154.654.555.054.654.354.154.0
66.867.565.860.660.661.463.363.460.459.156.056.359.260.060.662.062.762.861.860.559.161.061.061.561.059.360.360.559.860.960.460.160.159.959.259.059.159.059.359.159.359.158.858.958.5
Black
31.632.831.426.325.826.428.528.727.024.620.320.423.926.326.528.529.430.427.623.823.623.822.724.324.723.624.823.723.224.423.723.023.428.025.924.421.421.822.423.823.523.222.922.024.0
73.073.771.966.566.867.569.169.165.864.561.461.664.164.665.166.467.167.066.164.963.365.565.765.965.363.764.664.964.265.264.864.564.463.763.163.163.563.363.663.263.563.263.063.262.5
43.043.843.541.642.843.345.846.045.745.144.244.146.748.148.850.351.252.051.650.350.450.850.450.751.050.750.350.549.950.849.349.349.949.950.050.050.250.150.750.851.551.050.650.150.4
19.222.020.920.219.218.522.122.421.019.717.717.020.123.123.825.825.827.125.721.422.123.923.323.722.323.321.121.616.620.519.621.619.822.222.120.322.421.722.922.225.722.119.821.722.3
20yearsandover
58.058.759.559.356.757.557.956.256.356.257.057.858.458.258.058.156.854.954.1
76.577.678.477.272.573.874.171.772.071.872.973.774.073.873.372.870.968.167.3
52.452.752.248.042.041.443.841.041.737.437.839.440.538.838.739.035.531.832.4
79.280.481.380.576.077.677.975.575.776.277.778.779.279.478.978.476.874.273.2
41.942.243.043.742.843.243.642.642.742.743.444.145.145.045.245.944.943.943.3
24.726.428.026.522.820.324.823.223.121.321.820.223.124.824.725.122.420.219.9
43.743.944.745.545.C45.745.844.844.945.246.147.348.247.948.248.948.247.346.7
46.547.246.944.946.447.049.349.349.148.547.547.449.850.951.653.053.954.654.253.153.153.553.153.353.953.453.153.353.153.752.251.952.852.552.652.852.852.853.353.553.953.753.552.853.0
1 Civilian employment as percent of civilian noninstitutional population in group specified.
Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.
Source: Department of Labor, Bureau of Labor Statistics.
389
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-37.—Civilian unemployment rate, 1948-92
[Percent;1 monthly data seasonally adjusted]
Year or month
194819491950195119521953195419551956195719581959
1960196119621963196419651966196719681969197019711972 ..197319741975197619771978197919801981198219831984198519861987198819891990199119921991: Jan
FebMar
MayJune
JulyAugSeptOct
NovDec
1992:JanFebMarAprMayJune
JulyAugSept
OctNovDec
Allcivilianworkers
3.85.9533.33.0295.5444.14 36.85.55.56.7555.7524.5383.8363.5495.9564.95.68.57.77 l6.15.87.17.69.7967.5727.06.2555.35.56.77.46.36.56.86.66.86.86.76.86.86.9697.17.17.37.37.37.47.77.67.67.5747.37.3
Males
Total
3.65.9512.828285 3423.84 16.85.25.46.4525.2464.0323.1292.8445.3504.24.97.97.1635.35.16.97.49.9997.4706.96.2555.25.67.07.86.46.87.17.07.17.17.27.17.27.2717.47.57.87.87.67.98.27.98.07.9787.67.5
16-19
years
9.814.312 78.18.979
13.511 611 112 417 115.315.317.114 717.215 814.111712.311611.415 016.615 913.915.620.119.217 315.815.918.320.124.423 319.619 519.017.816 015.916.319.821.518.918.019.719.720.620.320.519.519.619.720 220.920.421.922.120.921.224.421.921.821.819 521.120.5
20yearsandover
3.25.4472.52.425493834366.24.74.75.7464.5393.2252.3222.1354.4403.33.86.85.9524.34.25.96.38.8896.6626.15.4484.54.96.37.05.66.26.46.36.36.46.56.46.56.5646.76.87.07.06.97.27.37.27.27.1726.96.8
Females
Total
4.16.0574.436336.0494847685.95.97.2626.5625.5485.2484.7596.9666.06.79 38.6827.26.87.47.99.4927.6747.16.256545.46.36.96.16.16.36.2646.36.16.46.26.66 66.8676.86.86.96.97.17.17.17.069S.97.0
16-19
years
8.312.31148.38.07 2
11.410 211.210 614.313.513.916.314 617.216 615.714 113.514 013.315 617.216 715.316.619 718.718 317.116.417.219.021.921 318.017 617.615.914 414 014.717.418.518.416.516.617.116 816.418.218.416.619.017 118.617 417.918.217.718.421.019.217.718.818 219̂ 117.7
20yearsandover
3.65.3514.03.2295.5444.24 16.15.25.16.3545.4524.5384.2383.74 85.7544.95.58.07.4706.05.76.46.88.38 16.8666.25.449474.85.76.35.35.45.65.5585.75.45.75.65.9606!l606.16.16.26.26.36.46.46.4626̂ 26.4
Bothsexes16-19years
9.213.412 28.28576
12 611011.111 615.914.614.716.814 717.216 214.812 812.912 712.215 316.916 214.516.019.919.017 816.416.117.819.623.222 418.918 618.316.915 315 015.518.620.018.617.318.218.418 818.419.418.918.219.318 719.818.920.020.219.419.922.820.619.920.418 920.219.2
White
3.55.6493.12827503936386.14.85.06.0495.0464.1343.4323.14 55.4514.35.07.87.0625.25.16.36.786846.5626.05.3474.54.76.06.55.65.86.15.8606.16.16.06.06.1626.46.36.56.56.46.56.86.66.66.6656.46.3
Blackand
other
5.98.9905.35.44599878379
12 610.710.212.410 910.8968.1737.4676.4829.9
10 09.09.9
13.813.113 111.911.313.114.217.317 814.413 713.111.610 410 010.111.112.710.810.811.111.111.211.010.511.111.211.711 111.712.512.312.312.412.913.113.012.912.612 512.612.8
Black
"To 4"9.4
10.514.814.014 012.812.314.315.618 919 515.915 114.513.011 711411.312.414.112.111.912.312.412 612.411.812.412.413.112 412̂ 913 713.813.913.814.514.514.414.213.914 114.014.2
Experi-encedwageand
salaryworkers
4.36.86.03.73.4326.2484.4467.35.75.76.8565.6504.3353.6343.3485.7534.55.38.27.3665.65.56.97.39.3927.1686.65.8525.05.36.57.16.06.36.66.46.56.56.56.56.56.6676.96.97.07.17.07.27.37.27.27.2717.07.0
Marriedmen,
spousepresent2
3.5'4.61.51.4174.0262.328513.63.74.6363.4282.4191.8161.5263.22 82.32.75.14.2362.82.84.24.36.56.54.64 34.43.9333.03.44.45.04.14.24.54.44.44.44.34.34.54.2464.84.85.04.94.85.05.15.25.35.2514.94.8
Womenwho
main-tain
families
£94.44.45.47.37.27.17.0
10.010.1948.58.39.2
10.411.712.210.310.49.89.2818.18.29.19.99.29.19.09.59.29.18.39.39.19.69 19.29.19.59.9
10.09.9
10.110.310.39.19 3
10.410.3
1 Unemployed as percent of civilian labor force in group specified.2 Data for 1949 and 1951-54 are for April; 1950, for March.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
390
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-38.—Civilian unemployment rate by demographic characteristic, 1950-92
[Percent;] monthly data seasonally adjusted]
Year or month
Allcivil-ian
work-ers
White
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Black and other or black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Black and other
19501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972
19721973197419751976197719781979
1980198119821983198419851986198719881989
199019911992
1991: Jan..Feb...Mar..
feJuneJuly..Aug..Sept.Oct...Nov..Dec.
1992:Jan..Feb...Mar..Apr..May.JuneJuly.Aug.SeptOct..Nov.Dec.
5.33.33.02.95.54.44.14.36.85.55.56.75,55.75.24.53.83.83.63.54.95.95.6
5.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.77.46.36.56.86.66.86.86.76.86.86.96.97.17.17.37.37.37.47.77.67.67.57.47.37.3
13.411.310.511.515.714.014.015.713.715.914.712.910.510.710.110.013.715.114.2
14.212.313.518.317.315.013.513.916.217.921.720.216.816.516.315.513.913.714.217.518.416.715.917.717.318.618.418.916.616.717.317.718.517.319.020.017.818.421.218.818.518.715.917.717.2
10.49.19.79.5
12.712.012.714.812.815.114.914.012.111.512.111.513.415.114.2
14.213.014.517.416.415.914.414.014.816.619.018.315.214.814.913.412.311.512.615.215.715.913.613.814.715.314.816.015.614.415.915.417.014.915.616.015.014.918.416.315.215.815.116.415.1
9.05.35.44.59.98.78.37.9
12.610.710.212.410.910.89.68.17.37.46.76.48.29.9
10.0
10.49.4
10.514.814.014.012.812.314.315.618.919.515.915.114.513.011.711.411.312.414.112.111.912.312.412.612.411.812.412.413.112.412.913.713.813.913.814.514.514.414.213.914.114.014.2
9.44.95.24.8
10.38.87.98.3
13.711.510.712.810.910.58.97.46.36.05.65.37.39.18.9
9.38.09.8
14.813.713.311.811.414.515.720.120.316.415.314.812.711.711.511.812.915.212.612.612.713.313.613.412.813.013.112.612.413.414.714.915.314.515.415.515.315.515.415.514.915.2
14.413.415.018.426.825.224.026.822.027.324.323.321.323.922.121.425.028.829.7
9.98.47.47.6
12.710.59.6
11.710.09.27.76.04.94.33.93.75.67.36.9
8.46.15.74.19.28.58.97.3
10.89.49.4
11.911.011.210.79.28.79.18.37.89.3
10.911.4
Black
31.727.833.138.137.539.236.734.237.540.748.948.842.741.039.334.432.731.932.136.542.035.435.638.336.936.034.733.436.740.536.436.537.236.138.738.343.243.045.142.342.744.344.244.842.2
7.06.07.4
12.511.410.79.39.3
12.413.517.818.114.313.212.911.110.110.010.411.513.411.211.311.111.812.212.111.611.511.311.211.012.013.213.313.812.813.813.613.613.813.513.713.013.3
11.811.111.314.814.314.913.813.314.015.617.618.615.414.914.213.211.711.410.811.913.011.611.211.911.611.711.410.811.911.813.512.412.312.712.712.613.113.613.513.513.012.512.713.213.2
20.619.222.820.228.427.724.829.230.234.731.631.731.329.628.727.634.535.438.4
40.536.137.441.041.643.440.839.139.842.247.148.242.639.239.234.932.033.030.036.137.236.334.638.136.130.831.635.642.634.541.833.436.634.937.236.135.742.136.438.431.839.839.837.536.5
8.47.77.86.49.58.38.3
10.69.69.49.07.56.67.16.35.86.98.78.8
9.08.68.8
12.211.712.311.210.911.913.415.416.513.513.112.411.610.49.89.6
10.511.710.09.8
10.210.210.610.49.5
10.410.712.011.311.111.411.411.411.811.912.212.111.911.011.311.811.9
1 Unemployed as percent of civilian labor force in group specified.
Note.-See Note, Table B-37.
Source: Department of Labor, Bureau of Labor Statistics.
391
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-39.—Unemployment by duration and reason, 1948-92
[Thousands of persons, except as noted; monthly data seasonally adjusted1]
Year or month
1948194919501951195219531954195519561957 . . .19581959I9601961196219631964196519661967 .19681969197019711972197319741975L9761977197819791980198119821983198419851986L98719881989199019911992
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992-JanFebMarAprMayJuneJulyAugSeptOctNovDec
Unem-ploy-ment
2 2763 6373 2882 0551,8831 83435322 8522 7502 8594 6023 7403 8524 71439114,0703 7863 3662 8752 9752,8172,8324,0935,0164,8824,3655 1567,9297 4066,9916 2026 1377,6378,27310 67810 7178,5398 3128,2377 4256,7016 5286 8748,4269,384
7,8068,1238,4628,3068,5078,4878,3788,4608,4798,6958,6708,9848 9929̂ 2239,2849,2259,4599,7889,6289,6249,5509,3799,3019,280
Duration of unemployment
Lessthan5
1,3001,75614501,1771,13511421 60513351412140817531585171918061,6631,75116971628157316341,5941,6292,1392,2452 2422,2242 6042,9402 8442,9192 8652 9503,2953,4493 8833 5703,3503 4983,4483 2463,0843 1743 1693,3803 270
3,3973,4653,4703,3483,5653,3693 3233,3533,3203,3063,3093,3593 3323,1053,2913,2693,3623,5123,3733,2893,2813,1923,1203,042
5-14weeks
6691,1941,055574516482
1116815805891
1,3961,1141 17613761,1341,2311117983779893810827
1,2901,585147213141 5972,4842 1962,13219231 9462,4702,53933112 9372>512 5092,5572 1962,0071 9782 2012,7242 760
2,5472,6832,8462,7282,7632,8112 7322,6572,7152,7822,6872,7712 7012,8822,6982,7062,6632,7832,7762,8462,8472,6662,8352,688
15-26weeks
193428425166148132495366301321785469503728534535491404287271256242428668601483574
1,3031018913766706
1,0521,1221 7081 652U041 0251,045943801730809
1,2251424
1,0041,0571,2031,2031,1951,256122712551,2881,4661,3421,3811 4551,4521,4171,3031,4051,3631,4591,5021,4271,4751,4381,540
27weeksandover
1162563571378478317336232239667571454804585553482351239111156133235519566343381
1,2031 3481,028648535820
1,1621 7762 5591,6341 280U871 040'809646695
1,0981 930
856915947
1,0071,0161,0851 1021 1611,1681,1471,3741,5081 5941,7201,7681,7691,9442,0692,0882,0452,0952,0892,0082,065
Average(mean)dura-tion
(weeks)
8610.012.19.78.48011813 011310 513.914 412 815 614.714.013 311810 4878.47.88.611.312 010 09814.215 814.311910 811.913.715 620 018.215 615.014 513.511 912 113.817 9
12.412.813.013.512.913.813 914 214.314.415.115.516 316.817.017.217.918.218.318.318.519.218.419.2
Mediandura-tion
(weeks)
234.54.44.96.36252528.4827.059546.56.98710 17.9686.9655.948546.988
5.96.26.66.86.56.970737.37.47.78.08 18.28.18.68.88.78.68.99.39.39.49.4
Reason for unemployment
J
Total
12291,0701,0171,8112,3232 10816942 2424,3863 6793^1662 5852 6353,9474,2676 26862584,4214 1394,0333 5663,0922 9833 3224,6085 291
4,1514,4124,5934,5014,5314,6704 6294 6714,7764,7384,7885,0664 8845,2265,2695,2195,4305,5355,4625,4145,4385,4925,2075,138
ob loser
Onlayoff
394334339675735582472746
1,6711050865712851
1,4881,4302 1271 7801,1711 1571,090943851850
10181,2791246
1,1861,4331,3781,3391,3351,3161 1951,2841,0941,2171,2171,2641 213U611,2351,2271,2111,3121,2961,2551,3351,2651,1951,204
>
Other
836736678
1,1371,5881,5261,22114952,7142 6282,30018731 7842,4592,8374 1414 4783,2502 9822^9432 6232,2412 1332 3053,3294 045
2,9652,9793,2153,1623,1963,3543 4343,3873,6823,5213,5713,8023 6713,9654,0343,9924,2194,2234,1664,1594,1034,2274,0123,934
Jobleav-ers
438431436550590641683768827903909874880891923840830823877
1,015965983
1 0241014979975
9081,0161,098978
1,0231,046975875953996985918971927947
1,009992
1,0171,0031,009963913977972
Reen-trants
945909965
1,2281,4721,4561,34014631,89219281,9631,85718061,9272,1022 3842 4122,1842 2562,1601 9741,80918431,8832,0872 228
2,0092,0142,0682,0852,1942,1022 0332,1032,0262,1162,1302,1742 3162,1692,2032,1372,1942,2662,2732,2462,2742,2062,1942,237
Newen-
trants
396407413504630677649681823895953885817872981
11851 2161,1101 03S1,02992C81667765475389C
69565912475477C7027697S9774836776816810838832853863999958941944784930930
1 Because of independent seasonal adjustment of the various series, detail will not add to totals.2 Data for 1967 by reason for unemployment are not strictly comparable with those for later years and the total by reason is not
equal to total unemployment.
Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.
392
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TABLE B-40.—Unemployment insurance programs, selected data, 1960-92
Year or month
19601961..1962...19631964...1965..1966...1967..19681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990. .1991
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMaiAprMayJuneJulyAugSeptOctNov"
Coveredemploy-ment1
All programs
Insuredunemploy-
ment(weeklyaver-
a g e ) ^
Thousands
46,33446,26647,77648,43449,6375158054,73956,34257,97759,99959,52659,37566,45869,89772,45171,03773,45976,41988,80492,06292,65993 30091,6289189896,47499 186
101,099103 933107,157109,926111498
8 109,613
2,0712 9941,946
7 19731,7531,4501,1291,2701 1871,1772,0702,6082,1921,7932,5584,9373,8463,3082,6452,5923,8373 4104,5943 7752,5612 6932,7462 4012,1352,2052 5753,406
4,0154,0904,0603,8643,2623,1773,2702,9992,7952,7952,8453,5754,2114,2144,1163,6393,2023,1483,1243,1202,8202,543
Totalbenefits
paid(millions
ofdollars)2 *
3,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.64,209.36,154.05,491.14,517.36,933.9
16,802.412,344.810,998.99,006.99,401.3
16,175.415 287 123,774.820 206 213,109.615 056 316,292.514 501 013,694.414,957.018,746 727,505.4
2,585 92,430.72,575.32,586.32,323.51,939.72,201.01,964.31,731.51,888.71,729.52,248.12,807.82,555.72,750.12,477.12,016.62,058.42,129.51,978.01,861.01,682.9
State programs
Insuredunem-
ployment
Initialclaims
Exhaus-tions5
Weekly average; thousands
1,9082,2901,783
71,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623 9862,9912,6552,3592,4343,3503 0474,0613 3962,4762 6112,6502 3322,0812,1582 5223,342
3,1363,3033,4673,4903,4753,4063,3363,2833,2673,2733,3133,3173,3493,3243,3403,3483,3283,2493,3273,1853,1853,0292,935
331350302
7 298268232203226201200296295261247363478386375346388488460583438377397378328310330388447
460498511460433421418415415418448464446452440412407415420409406366361
3146323026211517161625393529378163553939595780805049524638374567
58576270686976726666627178767883777677746763
Insured
unemploy-ment aspercent
ofcoveredemploy-
ment
4.85.64.44.33.83.02.32.52.22.13.44.13.52.73.56.04.63.93.32.93.93.54.6392.8292.82.42.02.12.43.2
**
3.03.13.33.33.33.23.13.13.13.13.13.13.23.13.23.23.23.13.23.03.02.92.8
Benefits paid
Total(millions
ofdollars)4
2,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.93,848.54,957.04,471.04,007.65,974.9
11,754.78,974.58,357.27,717.28,612.9
13,761.113,262.120,649.517,762.812,594.714,130.815,329.313,606.812,564.713,760.317,356.024,525.7
2,529.52,382.22,525.62,485.72,236.51,864.52,134.61,911.01,681.41,831.11,681.02,183.32,723.82,476.22,664.12,397.91,946.01,983.22,049.01,899.51,778.11,601.3
Averageweekfycheck
(dollars) •
32.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3454.0256.7659.0064.2570.2375.1678.7983.6789.67
98.95106.70119.34123.59123.47128.14135.65140.55144.97151.73161.56169.88
166.83169.51170.45170.01170.46170.50169.16169.02170.70171.27170.79170.99171.65173.39173.87173.88173.70173.22171.70174.19174.42175.37
**Monthly data are seasonally adjusted.1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad Retirement Board) programs.
Beginning October 1958, also includes the UCX program (unemployment compensation for ex-servicemembers).2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA
(Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and State extended benefitprograms. Does not include FSB (Federal supplemental benefits), SUA (special unemployment assistance), Federal SupplementalCompensation, and Emergency Unemployment Compensation programs.
3 Covered workers who have completed at least 1 week of unemployment.4 Annual data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.8 Latest data available for all programs combined. Workers covered by State programs account for about 97 percent of wage and
salary earners.Source: Department of Labor, Employment and Training Administration.
393
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TABLE B-41.—Employees on nonagricultural payrolls, by major industry, 1946-92
[Thousands of persons; monthly data seasonally adjusted]
Year or month Total
Goods-producing industries
Total MiningCon-
struction
Manufacturing
Total Durablegoods
Nondura-ble goods
19461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992"1991: Jan
Feb...Mar...
May"!June..July...Aug....Sept..Oct....Nov...Dec...
1992: Jan....Feb...Mar...Apr....May...June..July...Aug...Sept..Oct....Nov*Dec".
41,65243,85744,86643,75445,19747,81948,79350,20248,99050,64152,36952,85351,32453,26854,18953,99955,54956,65358,28360,76563,90165,80367,89770,38470,88071,21473,67576,79078,26576,94579,38282,47186,69789,82390,40691,15689,56690,20094,49697,51999,525102,200105,536108,329109,782108,310108,434108,845108,557108,344108,178108,265108,227108,190108,267108,293108,285108,139108,154108,100108,142108,200108,377108,496108,423108,594108,485108,497108,571108,647108,711
17,24818,50918,77417,56518,50619,95920,19821,07419,75120,51321,10420,96419,51320,41120,43419,85720,45120,64021,00521,92623,15823,30823,73724,36123,57822,93523,66824,89324,79422,60023,35224,34625,58526,46125,65825,49723,81323,33424,72724,85924,55824,70825,17325,32224,96023,83023,42124,19524,08123,93823,86023,86423,80923,79223,79123,75523,70423,61323,58423,52723,52523,53223,53023,54823,47023,45923,36223,29623,27023,27723,273
862955994930901929898866791792822828751732712672650635634632627613606619623609628642697752779813851958
1,0271,1391,128952966927777717713693710691635710710708704699697693686679674667663657653651646641634633626620623622620
1,6832,0092,1982,1942,3642,6372,6682,6592,6462,8393,0392,9622,8173,0042,9262,8592,9483,0103,0973,2323,3173,2483,3503,5753,5883,7043,8894,0974,0203,5253,5763,8514,2294,4634,3464,1883,9053,9484,3834,6734,8164,9675,1105,1875,1334,6854,5944,7904,7984,7404,7014,7064,6924,6744,6624,6624,6424,5854,5924,5874,5824,6034,6054,6324,6004,5844,5914,5744,6014,5844,579
14,70315,54515,58214,44115,24116,39316,63217,54916,31416,88217,24317,17415,94516,67516,79616,32616,85316,99517,27418,06219,21419,44719,78120,16719,36718,62319,15120,15420,07718,32318,99719,68220,50521,04020,28520,17018,78118,43419,37819,26018,96519,02419,35019,44219,11718,45518,19218,69518,57318,49018,45518,45918,42018,42518,44318,41418,38818,36118,32918,28318,29018,27818,27918,27518,23618,24218,14518,10218,04618,07118,074
7,7858,3588,2987,4628,0669,0599,32010,0809,1019,5119,8029,8258,8019,3429,4299,0419,4509,5869,78510,37411,25011,40811,59411,86211,17610,60411,02211,86311,89710,66211,05111,57012,24512,73012,15912,08211,01410,70711,47911,46411,20311,16711,38111,42011,13010,60210,34010,81610,71010,64610,63010,62210,58710,58610,58210,55710,53010,49810,46610,42210,43010,41710,40910,39810,37110,34710,29810,27110,23110,24810,243
6,9187,1877,2856,9797,1757,3347,3137,4687,2137,3707,4427,3517,1447,3337,3677,2857,4037,4107,4897,6887,9638,0398,1878,3048,1908,0198,1298,2918,1817,6617,9468,1128,2598,3108,1278,0897,7677,7267,8997,7967,7617,8587,9698,0227,9887,8527,8527,8797,8637,8447,8257,8377,8337,8397,8617,8577,8587,8637,8637,8617,8607,8617,8707,8777,8657,8957,8477,8317,8157,8237,831
Note.—Data in Tables 6-41 and B-42 are based on reports from employing establishments and relate to full- and part-time wage andsalary workers in nonagricultural establishments who received pay for any part of the pay period that includes the 12th of the month.Not comparable with labor force data (Tables 6-30 through 6-39), which include both agricultural and nonagricultural industries-, whichinclude self-employed persons, unpaid family workers, and private household workers, as well as other wage and salary workers;
See next page for continuation of table.
394
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—Employees on nonagricultural payrolls, by major industry, 1946-92—Continued
[Thousands of persons; monthly data seasonally adjusted]
Year or month
Service-producing industries
Total
24,40425,34826,09226,18926,69127,86028,59529,12829,23930,12831,26631,88931,81132,85733,75534,14235,09836,01337,27838,83940,74342,49544,16046,02347,30248,27850,00751,89753,47154 34556,0305812561,11363,36364,74865 65965,75366 86669,76972 66074,96777,49280,36383,00784,82284,48085,01384,65084,47684,40684,31884,40184,41884,39884,47684,53884,58184,52684,57084,57384,61784,66884,84784,94884,95385,13585,12385,20185,30185,37085.438
Trans-portation
andpublic
utilities
4,0614,1664,1894,0014,0344,2264,2484,2904,0844,1414,2444,2413,9764,0114,0043,9033,9063,9033,9514,0364,1584,2684,3184,4424,5154,4764,5414,6564,7254 5424,5824 7134,9235,1365,14651655,0824 9545,1595 2385,2555,3725,5275,6445,8085,7725,7415,8175,7815,7705,7685,7695,7635,7675,7735,7695,7665,7615,7585,7465,7535,7545,7465,7455,7455,7425,7295,7385,7315,7335,737
Whole-saletrade
2,2982,4782,6122,6102,6432,7352,8212,8622,8752,9343,0273,0372,9893,0923,1533,1423,2073,2583,3473,4773,6083,7003,7913,9194,0064,0144,1274,2914,4474 4304,5624 7234,9855,2215,2925 3765,2965 2865,5745 7365,7745,8656,0556,2216,2006,0695,9836,1276,1096,0986,0826.0816,0696,0646,0506,0496,0406,0316,0216,0106,0035,9975,9935,9935,9885,9725,9645,9575,9695,9745,967
Keiaiitrade
6,0776,4776,6596,6546,7437,0077,1847,3857,3607,6017,8317,8487,7618,0358,2388,1958,3598,5208,8129,2399,6379,906
10,30810,78511,03411,33811,82212,31512,53912 63013,19313 79214,55614,97215,0181517215,16115 59516,52617 33617,90918,46219,07719,54919,67719,25919,13719,46419,36619,34019,27519,28119,26819,23819,24419,22019,17519,13019,11219,11819,14319,09219,17719,15019,15619,18419,10619,12219,14619,12519,140
Finance,insur-ance,
and realestate
1,6751,7281,8001,8281,8881,9562,0352,1112,2002,2982,3892,4382,4812,5492,6282,6882,7542,8302,9112,9773,0583,1853,3373,5123,6453,7723,9084,0464,1484 1654,2714 4674,7244,9755,1605 2985,3415,4685,6895,9556,2836,5476,6496,6956,7296,6786,6726,7116,7016,6996,6886,6836,6746,6626,6616,6636,6656,6666,6706,6656,6736,6756,6826,6816,6726,6606,6616,6696,6806,6696,677
Services
4,6975,0255,1815,2395,3565,5475,6995,8355,9696,2406,4976,7086,7657,0877,3787,6197,9828,2778,6609,0369,498
10,04510,56711,16911,54811,79712,27612,85713,44113,89214,55115,30216,25217,11217,89018,61919,03619,69420,79721,99923,05324,23525,66927,12028,10328,32328,90328,21528,18128,15828,14528,20928,25128,28928,36628,45028,52528,51428,55928,57728,58428,64328,70728,83328,85428,97128,98129,06529,15229,18329,253
Government
Total
5,5955,4745,6505,8566,0266,3896,6096,6456,7516,9147,2787,6167,8398,0838,3538,5948,8909,2259,596
10,07410,78411,39111,83912,19512,55412,88113,33413,73214,17014,68614,87115,12715,67215,94716,24116,03115,83715,86916,02416,39416,69317,01017,38617,77918,30418,38018,57818,31618,33818,34118,36018,37818,39318,37818,38218,38718,41018,42418,45018,45718,46118,50718,54218,54618,53818,60618,68218,65018,62318,68618,664
Federal
2,2541,8921,8631,9081,9282,3022,4202,3052,1882,1872,2092,2172,1912,2332,2702,2792,3402,3582,3482,3782,5642,7192,7372,7582,7312,6962,6842,6632,7242,7482,7332,7272,7532,7732,8662,7722,7392,7742,8072,8752,8992,9432,9712,9883,0852,9662,9672,9512,9522,9532,9552,9572,9702,9652,9702,9782,9802,9812,9832,9812,9812,9892,9862,9842,9722,9572,9592,9672,9422,9422,944
Stateandlocal
3,3413,5823,7873,9484,0984,0874,1884,3404,5634,7275,0695,3995,6485,8506,0836,3156,5506,8687,2487,6968,2203,6729,1029,4379,823
10,18510,64911,06811,44611,93712,13812,39912,91913,17413,37513,25913,09813,09613,21613,51913,79414,06714,41514,79115,21915,41415,61015,36515,38615,38815,40515,42115,42315,41315,41215,40915,43015,44315,46715,47615,48015,51815,55615,56215,56615,64915,72315,68315,68115,74415,720
19461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992 P
1991: Jan....Feb....Mar....Apr....May...June..
July....Aug....Sept..Oct....Nov...
Dec...
1992.- Jan...Feb....Mar...Apr...May..June.July...Aug...Sept..Oct...Nov"D e c
Note (cont'd).—which count persons as employed when they are not at work because of industrial disputes, bad weather, etc., evenif they are not paid for the time off; and which are based on a sample of the working-age population. For description and details of thevarious establishment data, see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
395
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-42.—Hours and earnings in private nonagrkultural industries and hourly compensation in the
total economy, 1959-92
[Monthly data seasonally adjusted, except as noted]
Year or month
Private nonagricultural industries *
Average weeklyhours
Totalpri-vate
Manufactur-ing
Total Over-time
Average hourly earnings
Total private
Cur-rentdol-lars
1982dol-
lars2
Manu-facturing(currentdollars)
Average weekly earnings, totalprivate
Level
Currentdollars
1982dol-
lars2
Percent changefrom a year
earlier3
Cur-rentdol-lars
1982dol-
lars2
Total economy,hourly
compensation 4
Currentdollars
1982CPI-U-
XIdol-
lars5
1959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992 *1991: Jan..,
Feb..Mar..Apr..May.JuneJuly.Aug.SeptOct..Nov..Dec.
1992: Jan..Feb..Mar.Apr..May.JuneJuly.Aug.SeptOct..Nov iDec '
39.038.638.638.738.838.738.838.638.037.837.737.136.937.036.936.536.136.136.035.835.7
35.335.234.835.035.234.934.834.834.734.634.534.334.434.234.334.234.134.334.534.234.334.434.334.434.534.334.634.534.334.634.334.334.634.334.534.634.3
40.339.739.840.440.540.741.241.440.640.740.639.839.940.540.740.039.540.140.340.440.239.739.838.940.140.740.540.741.041.141.040.840.741.040.540.440.340.440.540.740.740.940.940.940.941.040.941.141.141.141.341.041.041.040.941.141.241.3
$2.022.092.142.222.282.362.462.562.682.853.043.233.453.703.944.244.534.865.255.696.166.667.257.688.028.328.578.768.989.289.66
10.0110.3310.5910.1810.2010.2310.2610.3010.3510.3410.3810.3910.4010.4210.4610.4610.5110.5510.5210.5610.5810.5810.6610.6310.6510.7110.70
$6.696.796.887.077.177.337.527.627.727.897.988.038.218.538.558.288.128.248.368.408.177.787.697.687.797.807.777.817.737.697.64
7.527.45
7.437.447.457.457.467.487.467.477.467.457.447.457.447.467.467.427.447.437.417.447.417.407.42
$2.192.262.322.392.452.532.612.712.823.013.193.353.573.824.094.424.835.225.686.176.707.277.998.498.839.199.549.739.9110.1910.4810.8311.1811.4511.0211.0311.0711.1211.1411.1711.2111.2411.2511.2711.3011.3211.2711.3411.3711.4211.4411.4411.4511.5111.5111.5111.5511.57
$78.7880.6782.6085.9188.4691.3395.4598.82101.84107.73114.61119.83127.31136.90145.39154.76163.53175.45189.00203.70219.91235.10255.20267.26280.70292.86299.09304.85312.50322.02334.24345.35354.32364.30348.16349.86349.87349.87353.29357.08353.63356.03357.42356.72358.45360.87358.78363.65363.98360.84365.38362.89362.89368.84364.61367.43370.57367.01
$260.86261.92265.59273.60278.18283.63291.90294.11293.49298.42300.81298.08303.12315.44315.38302.27293.06297.37300.96300.89291.66274.65270.63 i267.26272.52274.73271.16271.94269.16266.79264.22259.47255.64
254.13255.19254.64253.90255.82258.01255.14256.32256.58255.53255.85257.03255.36258.27257.23254.47257.31254.84254.30257.57254.08255.16256.81
4.92.42.44.03.03.24.53.53.15.86.44.66.27.56.26.45.77.37.77.88.06.98.54.75.04.32.11.92.53.03.83.32.62.82.42.21.92.32.43.01.82.82.73.23.03.13.03.94.23.13.41.92.63.51.22.83.51.6
4.2.4
1.43.01.72.02.9
.8- . 21.7
.8- . 91.74.1
- . 0-4 .2- 3 . 0
1.51.2
- . 0-3 .1- 5 . 8- 1 . 5-1 .2
2.0.8
- 1 . 3.3
-1 .0- . 9
-1 .0-1 .8- 1 . 5
-2 .9-2 .7-2 .6- 2 . 3-2 .4- 1 . 5-2 .4
- . 7- . 4
.5
.2
.4
.61.11.2
.1
.6-1 .0
- . 4.4
-1 .7- . 3
.5
$2.322.432.522.622.732.872.993.183.353.643.914.254.544.855.275.776.326.877.408.028.799.70
10.6711.4911.9512.4913.0713.6914.2514.8615.4216.2917.12
$7.027.207.407.647.848.148.358.658.829.239.489.83
10.0710.4510.6610.6210.7411.0711.2011.3611.3611.2711.3311.4911.4711.4911.6011.9511.9912.0211.89
11.9112.01
1 For production or nonsupervisory workers; total includes private industry groups shown in Table B-41.2 Current dollars divided by the consumer price index for urban wage earners and clerical workers on a 1982 =-100 base.3 Percent changes are based on data that are not seasonally adjusted.4 Compensation (wages and salaries of employees plus employer contributions for social insurance and private benefit plans, and all
other fringe benefits, as well as an estimate of the wages, salaries, and supplemental payments of the self-employed) divided by hoursof all persons.
5 See Table B-58.Note.—See Note, Table B-41.Source-. Department of Labor, Bureau of Labor Statistics.
396
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-43.—Employment cost index, private industry, 1979-92
Year and month
December:1979198019811982198319841985198619871988198919901991
1991: MarJuneSeptDec
1992: MarJuneSept
1991: MarJuneSeptDec
1992: MarJuneSept
December:198019811982198319841985198619871988198919901991
1991: MarJuneSeptDec
1992: MarJuneSept
1991: MarJuneSeptDec
1992: MarJuneSept
Total privat
Totalcompen-sation
59.164 871.275 880.184.087.390.193.197.6
102.3107.0111.7
108.5109.8111.0111.7113.1113.9114.8
108.5109.7110.8111.9113.0113.7114.6
9.69.96.55.74.93.93.23.34.84.84.64.4
4.44.44.54.44.23.73.4
1.21.11.01.01.0.6.8
Wagesandsala-ries
61.567 173.077 681.484.888.391.194.198.0
102.0106.1110.0
107.3108.4109.3110.0110.9111.6112.2
107.3108.4109.2110.1111.0111.5112.1
9.18.86.34.94.24.13.23.34.14.14.03.7
4.03.73.73.73.43.02.7
1.01.0
7.8.8.5.5
Bene-f i t s 1
53.259 466.671476.781.784.687.590.596.7
102.6109.4116.2
111.6113.5115.2116.2118.6119.7121.2
111.4113.2115.1116.7118.4119.4121.3
11.712.17.27.46.53.53.43.46.96.16.66.2
5.86.26.46.26.35.55.2
1.41.61.71.41.5.8
1.6
Goods-producing
Totalcompen-sation
60.766 773.377 881.685.488.291.093.897.9
102.1107.0111.9
108.5109.8111.0111.9113.5114.3115.3
108.4109.7110.8112.0113.4114.1115.2
Wagesandsala-ries
Bene-fits1
Index, June
63.769 775.780 083.286.489.492.395.298.2
102.0105.8109.7
107.0108.0108.7109.7110.7111.4112.1
54.660 568.273 278.383.285.788.390.997.3
102.6109.9116.7
111.9113.9115.8116.7119.7120.6122.3
Service-producing
Totalcompen-
sation
Wagesandsala-ries
Bene-fits1
Manufacturing
Totalcompen-sation
Wagesandsala-ries
1989 = 100; not seasonally adjusted
57.763 369.574178.982.986.689.392.697.3
102.3107.0111.6
108.5109.8111.0111.6112.8113.6114.4
Index, June 1989 =
107.0108.0108.7109.7110.7111.4112.1
111.6113.7115.8117.2119.5120.4122.2
108.5109.7110.8111.9112.8113.4114.3
60.065 371.175 980.283.787.790.393.497.8
102.2106.3110.2
107.5108.7109.7110.2111.1111.7112.3
51.958 465.169 675.280.483.686.890.296.1
102.6109.0115.7
111.4113.0114.6115.7117.7118.8120.4
60.166 072.576 980.885.087.890.793.497.6
102.0107.2112.2
108.6110.0111.2112.2114.0114.7115.7
= 100; seasonally adjusted
107.6108.6109.5110.4111.2111.6112.1
111.1112.8114.7116.4117.4118.6120.5
Percent change from 12 months earlier, not
9.99.96.14.94.73.33.23.14.44.34.84.6
4.44.44.54.64.64.13.9
9.48.65.74.03.83.53.23.13.23.93.73.7
3.83.63.43.73.53.13.1
Percent c
1.11.21.01.11.3.6
1.0
1.1.9.6.9.9.6.6
10.812.77.37.06.33.03.02.97.05.47.16.2
5.96.36.56.27.05.95.6
hange
1.21.91.81.22.0
.81.5
9.79.86.66.55.14.53.13.75.15.14.64.3
4.54.44.54.34.03.53.1
8.88.96.85.74.44.83.03.44.74.54.03.7
4.13.93.83.73.32.82.4
12.511.56.98.06.94.03.83.96.56.86.26.1
5.86.06.26.15.75.15.1
108.5109.9111.2112.4113.9114.7115.6
63.068 974.979 182.586.189.292.195.298.1
101.9106.2110.3
107.4108.4109.3110.3111.5112.2112.9
107.4108.4109.3110.3111.5112.2112.9
Bene-f i t s 1
54.259 967.572 477.582.785.087.589.896.6
102.3109.5116.1
111.2113.3115.3116.1119.3120.1121.5
110.8113.1115.2116.7119.0119.9121.4
seasonally adjusted
9.89.86.15.15.23.33.33.04.54.55.14.7
4.44.54.54.75.04.34.0
9.48.75.64.34.43.63.33.43.03.94.23.9
4.03.73.73.93.83.53.3
rom 3 months earlier, seasonally adjustec
1.21.11.01.0.8.5.8
1.0.9.8.8.7.4.4
1.51.51.71.5
.91.01.6
0.91.31.21.11.3.7.8
1.1.9.8.9
1.1.6.6_.
10.512.77.37.06.72.82.92.67.65.97.06.0
5.46.06.46.07.36.05.4
0.62.11.91.32.0
.81.3
Nonmanufacturing
Totalcompen-
sation
58.564 270.475 179.683.487.089.792.997.5
102.3106.9111.5
108.5109.7110.9111.5112.7113.5114.4
108.5109.6110.8111.8112.7113.4114.3
9.79.76.76.04.84.33.13.65.04.94.54.3
4.54.44.44.33.93.53.2
1.31.01.1.9.8.6.8
Wagesandsala-ries
60.866 272.176 881.084.288.090.693.797.8
102.2106.1109.8
107.3108.4109.3109.8110.7111.3111.9
107.4108.4109.2109.9110.8111.2111.8
8.98.96.55.54.04.53.03.44.44.53.83.5
4.03.73.73.53.22.72.4
1.1.9.7.6.8.4.5
Bene-f i t s 1
52.559 166.170 676.281.184.487.591.096.8
102.8109.3116.2
111.9113.5115.1116.2118.2119.4121.0
111.5113.3115.1116.8117.8119.2121.0
12.611.86.87.96.44.13.74.06.46.26.36.3
6.26.26.46.35.65.25.1
1.51.61.61.5.9
1.21.5
1 Employer costs for employee benefits.
Note.--The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shiftsamong occupations and industries.
Data exclude farm and household workers.
Through December 1981, percent changes are based on unrounded data; thereafter changes are based on indexes as published.
Source: Department of Labor, Bureau of Labor Statistics.
397
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-44.—Productivity and related data, business sector, 1959-92
[1982=100; quarterly data seasonally adjusted]
Year orquarter
1959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911982: IV1983. IV1984: IV1985: IV1986: IV1987: IV1988: IV1989: IV1990:1
IIIllIV
1991:1IIIllIV
1992:1IIIll
Output per hourof all persons
Busi-ness
sector
64.565.568.070.473.276.478.580.782.785.385.786.989 892.695.093.295.498.299 8
100.499.398.699.9
100.0102.2104.6106.1108.3109.4110.4109.5109.7110.1101.1103.0105.2106.9108.0110.3110.5109.3109.4110.2109.8109.7109.3109.8110.3111.2112.3112.5113.5
Nonfarmbusinesssector
69.169.872.174.377.079.981.783.385.187.687.688.591294.096.394.596.699.1
100 6101.399.999.099.9
100.0102.4104.5105.4107.5108.3109.2108.2108.2108.7101.1103.2105.1105.8107.1109.1109.6108.0107.9108.6108.1108.1107.9108.4108.9109.6110.6111.1111.9
Output »
Busi-ness
sector
51.452.253.356.158.762.265.969.370.874.076.275.878 083.088.286.685.089.994 9
100.1102.1100.5102.4100.0104.1112.6116.7119.9124.8130.1132.3132.7129.8100.0107.5114.4118.0120.6127.4131.7132.3133.1133.7132.5131.3129.2129.5130.0130.6131.4131.9133.1
Nonfarmbusinesssector
51.051.852.955.758.361.965.769.370.874.076.275.777 983.088.486.784.990.095 0
100.5102.5100.8102.4100.0104.4113.0116.8120.1125.0130.6132.7132.9130.0100.0108.1114.8118.2120.8127.6132.5132.7133.5134.0132.7131.5129.4129.7130.2130.7131.5132.0133.2
Hours of allpersons2
Busi-ness
sector
79.679.778.579.780.181.483.985.885.686.888.987.286 989.692.892.989.191.595199.7
102.8101.9102.5100.0101.8107.6109.9110.7114.1117.9120.9120.9117.998.9
104.3108.7110.4111.6115.5119.2121.1121.7121.4120.7119.8118.1117.9117.8117.5117.0117.2117.2
Nonfarmbusinesssector
73.874.273.474.975.877.580.483.183.184.587.085.685 488.391.791.888.090.894.599.3
102.7101.8102.5100.0102.0108.1110.8111.8115.4119.5122.7122.9119.698.9
104.7109.2111.7112.8116.9120.9122.8123.7123.4122.8121.6119.9119.7119.6119.3118.9118.9119.1
Compensationper
Busi-ness
sector
20.221.121.922.923.825.026.027.829.431.834.136.739 041.545.149.554.559.464 269.976.785.093.0
100.0103.7108.1113.0118.6122.7128.0132.3139.7146.6102.1105.2109.7115.4120.6125.3130.2134.3136.2138.9141.0142.9144.1146.1147.5148.8150.2151.0152.4
lour3
Nonfarmbusinesssector
21.322.222.923.924.725.826.728.329.932.334.537.039 441.945.449.954.859.564 370.076.784.993.0
100.0103.9108.1112.6118.1122.1127.2131.3138.4145.4102.1105.1109.7114.8120.1124.6129.3133.3134.9137.5139.6141.6143.0145.0146.4147.5148.9149.8151.1
Real compensationper hour4
Busi-ness
sector
67.068.770.773.275.077.979.682.984.988.289.791.293 095.898.097.097.7
100.8102 3103.4102.099.598.7
100.0100.5100.4101.3104.4104.3104.4103.0103.2103.9100.6100.4100.6102.2105.3104.8104.3102.9102.6103.6103.4103.0103.1103.9104.2104.2104.5104.1104.4
Nonfarmbusinesssector
70.572.374.076.277.980.481.884.286.589.590.792.093 896.798.697.698.3
101.0102 4103.6101.999.498.8
100.0100.7100.4101.0104.0103.7103.7102.2102.2103.0100.6100.3100.5101.6104.9104.2103.6102.1101.6102.5102.4102.1102.3103.1103.4103.3103.5103.3103.5
Unit labor costs
Busi-ness
sector
31.332.232.232.632.532.833.134.535.537.339.842.243 544.847.553.157.160.564 369.677.286.293.1
100.0101.5103.3106.5109.5112.2116.0120.9127.3133.1101.0102.1104.3108.0111.6113.6117.8122.9124.5126.0128.4130.3131.8133.1133.7133.8133.8134.1134.3
Nonfarmbusinesssector
30.831.831.832.132.132.332.733.935.136.839.441.843144.547.152.856.760.163 969.176.885.793.1
100.0101.5103.4106.8109.9112.8116.4121.4127.9133.8101.0101.8104.4108.4112.1114.2118.0123.3125.0126.6129.1131.0132.5133.8134.4134.6134.6134.9135.1
Implicit pricedeflator5
Busi-ness
sector
32.132.632.833.533.734.135.036.137.238.840.642.444 546.249.053.759.062.466 571.878.385.994.5
100.0103.4107.7111.2113.6116.6120.8126.1131.2136.2101.1104.8109.0112.4114.6117.9122.8127.8129.1130.6131.9133.3134.9136.0136.7137.3138.2139.0138.8
Nonfarmbusinesssector
31.832.332.533.133.433.934.635.836.938.640.442.244 345.847.952.858.361.966171.277.585.694.2
100.0104.0107.6111.6114.2117.2121.4126.5131.8137.0101.4105.2109.0112.9115.2118.5123.4128.2129.6131.1132.5134.1135.7136.6137.5138.3139.1139.9139.8
1 Output refers to cross domestic product originating in the sector in 1987 dollars.2 Hours at work of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based
primarily on establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an
estimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.5 Current dollar gross domestic product divided by constant dollar gross domestic product.
Source: Department of Labor, Bureau of Labor Statistics.
398
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-45.—Changes in productivity and related data, business sector, 1960-92
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Yesr orquarter
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Output per hourof all persons
Busi-ness
sector
163.73.54.14.3
2.7282.530
.5
1.43.33.12.6
-1 .8
2.32.91.7
.6-1 .1
- . 71.3
.12.22.3
1.42.01.0
.9- . 8
.3
.3
.42.9
-1 .4__ 5
- 1 . 11.61.93.3
3.91.03.4
Nonfarmbusiness
sector
11
3.33.13.63.8
2.3192.229
- . 0
1.03.13.12.4
-2 .0
2.22.61.5
.7-1 .4
-".9.9.1
2.42.1
.81.9
.8
.9-1 .0
.0
.5
_ 5
2̂ 5-1 .7
.1
_ -j
171.92.5
3.71.73.0
Outputl
Busi-ness
sector
172.15.14.66.0
6.0522.2452.9
- . 52.96.46.2
-1 .8
- 1 . 95.85.65.52.0
-1 .61.9
- 2 . 34.18.2
3.62.84.14.31.7
.2-2 .2
2.61.8
-3 .6- 3 . 5
-6 .4.9
1.62.0
2.31.63.6
Nonfarmbusiness
sector
172.15.34.76.2
6.1542.2462.9
- . 62.96.56.4
- 1 . 9
-2 .05.95.65.82.0
-1 .71.6
-2 .44.48.2
3.42.84.14.41.7
.1-2 .2
2.21.6
-3 .7-3 .6
- 6 . 1.9
1.51.6
2.31.73.5
Hours of allpersons2
Busi-ness
sector
0 1-1 .6
1.6.5
1.6
3.223
- . 31 42.4
- 1 . 9- . 43.23.6
.1
-4 .12.83.84.93.1
- . 9.6
- 2 . 51.85.7
2.1.7
3.13.32.6
- . 0- 2 . 5
2.2- 1 . 1- 2 . 3-3 .0
- 5 . 3- . 7- . 3
- 1 . 3
- 1 . 5.6.2
Nonfarmbusiness
sector
06-1 .1
2.11.12.3
3.834
- . 01 72.9
-1 .6- . 33.33.9
.1
-4 .23.24.15.03.4
- . 8.7
-2 .42.06.0
2.5.9
3.33.52.7
.1-2 .6
2.8— 9
-2.\-3 .7
- 5 . 5- . 8- . 3- . 9
- 1 . 3.1.6
Compensation perhour3
Busi-ness
sector
433.94.73.85.2
3.8705.7827.3
7.66.46.38.79.9
10.09.18.08.89.8
10.79.47.63.74.2
4.54.93.54.33.4
5.64.9
5.8806.35.4
3.65.63.93.5
4.01.93.9
Nonfarmbusiness
sector
443.34.13.54.6
3.3605.8796.8
7.26.46.48.39.9
9.98.68.08.99.5
10.79.67.53.94.0
4.24.93.44.13.2
5.45.1
5.07.86.45.93.85.83.93.1
3.82.43.5
Real compensationper hour4
Busi-ness
sector
262.83.62.43.9
2.24 12.5381.7
1.71.93.02.3
- 1 . 0
.83.21.41.2
-1 .4
-2 .4- . 81.3
.5- . 1
.93.0
- . 1.1
-1 .4
.2
.7
-1 .23.8
- . 7-1 .4
.43.01.1
- . 0
1.1-1 .4
1.3
Nonfarmbusiness
sector
262.23.02.23.3
1.7302.6361.3
1.41.93.11.9
-1 .0
.72.71.41.2
-1 .6
-2 .4_ i
1.27
- . 3
.63.0
- . 2.0
- 1 . 5
- . 0.8
-1 .93.5
-.6- . 9
.63.21.2
- . 4
.9- . 9
.9
Unit labor costs
Busi-ness
sector
27.1
1.2- . 3
.9
1.14 13.1506.7
6.13.03.15.9
11.9
7.56.06.38.2
11.0
11.58.07.41.51.9
3.02.82.53.34.2
5.34.6
5.35.07.85.9
4.83.91.9
.2
.1
.9
.5
Nonfarmbusiness
sector
3301.0
- . 1.8
1.0393.5486.8
6.23.23.25.7
12.1
7.55.96.48.1
11.1
11.78.67.41.51.9
3.32.92.63.24.3
5.44.6
5.65.18.25.8
4.64.02.0
.6
.1
.8
.6
Implicdefla
Busi-ness
sector
15.5
2.0.8
1.1
2.5332.9444.7
4.34.93.86.19.5
10.05.86.58.09.1
9.710.1
5.83.44.1
3.32.22.63.64.4
4.13.8
4.24.74.24.2
4.83.22.31.6
2.62.4
- . 4
t pricetor5
Nonfarmbusiness
sector
1 5.6
2.1.9
1.4
2.2333.3454.6
4.55.03.54.5
10.2
10.46.36.87.68.9
10.410.1
6.14.03.5
3.72.42.63.64.2
4.24.0
4.24.74.54.8
4.92.72.72.2
2.42.5
- . 5
1 Output refers to gross domestic product originating in the sector in 1987 dollars.2 Hours at work of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based
primarily on establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an
estimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.5 Current dollar gross domestic product divided by constant dollar gross domestic product.
Note.—Percent changes are based on original data and therefore may differ slightly from percent changes based on indexes in TableB-44.
Source.- Department of Labor, Bureau of Labor Statistics.
399
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITY
TABLE B-46.—Industrial production indexes, major industry divisions, 1947-92
[1987 = 100; monthly data seasonally adjusted]
Year or monthTotal
industrialproduction
100.022.723.622.325.828.029.131.629.933.735.135.633.337.338.138.441.644.047.051.756.357.560.763.561.462.268.373.872.766.372.478.282.685.784.185.781.984.992.894.495.3
100.0105.4108.1109.2107.1106.6105.7105.0105.5106.4107.3108.1108.0108.4108.4108.1107.4106.6107.2107.6108.1108.9108.5109.4109.1108.8109.3109.7
Manufacturing
Total
84.721.222.020.824.226.127.229.627.731.332.532.930.634.535.235.338.440.743.548.252.653.656.659.156.457.363.368.967.961.167.473.377.880.978.880.376.680.989.391.694.3
100.0105.8108.9109.9107.4107.0106.1105.2105.9106.6107.5108.3108.4108.9109.0108.6108.1107.4108.1108.5109.0109.9109.6110.2110.1109.7110.3110.8
Durable
47.319.920.818.923.025.927.531.127.431.332.432.628.532.833.332.736.338.741.447.152.352.955.557.753.353.159.366.264.856.762.668.773.978.375.777.472.776.888.491.893.9
100.0107.6110.9111.6107.1107.2106.1105.0106.0106.7107.3108.1107.8108.4108.2107.8107.1105.8107.0107.0107.6109.1108.5109.0109.2108.2109.2109.7
Nondur-able
37.522.623.423.025.626.426.928.028.231.332.933.533.737.138.039.141.543.846.649.852.954.658.161.161.163.669.372.772.367.774.680.183.584.683.184.582.587.090.891.594.9
100.0103.6106.4107.8107.9106.8106.0105.4105.9106.5107.6108.6109.0109.6110.1109.6109.5109.5109.6110.4110.7110.9111.0111.7111.3111.6111.6112.2
Mining
7.555.558.351.757.763.462.864.563.270.574.274.368.171.311173.175.278.281.484.488.990.694.197.8
100.497.899.9
100.8100.398.098.9
101.5104.6106.6110.0114.3109.3104.8111.9109.0101.0100.0101.8100.5102.6101.1101.7102.9101.5100.9100.2102.1102.7101.3101.4100.799.698.897.898.497.599.199.798.0
100.698.898.898.999.5
Utilities
1991 proportion1947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991:Jan
FebMar
fcJune
NovDec
1992:JanFebMar
May".'.!'.!'.June
JulyAugSeptOct "....Nov "....
7.811.713.013.915.818.119.621.322.925.628.130.031.434.536.939.041.944.848.751.755.658.463.168.772.976.481.384.583.584.387.689.992.795.395.994.391.893.697.099.596.3100.0104.4107.1108.0109.2107.6104.6106.4105.9111.4111.5110.9110.7109.7109.4111.0107.9106.8106.4107.7108.2107.3106.7109.3108.8109.1108.6107.9
Source: Board of Governors of the Federal Reserve System.
400
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-47.—Industrial production indexes, market groupings, 1947-92
[1987 = 100; monthly data seasonally adjusted]
Year or monthTotal
industrialproduction
Final products
Total
Consumer goods
Total
Auto-motiveprod-ucts
Otherdura-ble
goods
Non-durablegoods
Equipment
Total ' Busi-ness
De-fenseand
space
Inter-mediate
prod-ucts
Materials
Total Dura-ble
Non-durable
Ener-gy
1991 proportion19471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990....."19911991:Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMarAprMayJuneJulyAugSeptOct p....Nov P....
100.022.723.622.325.828.029.131.629.933.735.135.633.337.3
38.138.441.644.047.051.756.357.560.763.561.462.268.373.872.766.372.478.282.685.784.185.781.984.992.894.495.3100.0105.4108.1
109.2107.1106.6105.7105.0105.5106.4107.3
108.1108.0108.4108.4108.1107.4
106.6107.2107.6108.1108.9108.5
109.4109.1108.8109.3109.7
47.120.821.520.9
23.525.427.329.127.629.831.632.531.034.0
35.135.438.440.642.947.151.653.756.358.1
56.056.561.365.965.761.866.271.676.179.0
80.082.180.883.091.094.295.7
100.0105.6109.1
110.9109.6
109.1108.3108.1108.7109.3110.1
110.2109.8110.4110.6110.6109.9
108.7109.4109.8110.6111.4110.5
111.0111.5111.0111.9112.2
26.125.426.226.1
29.729.430.131.931.735.436.737.637.240.9
42.443.346.248.851.555.558.459.863.465.8
65.068.874.377.675.272.379.485.188.487.3
85.385.884.588.892.893.796.8
100.0104.0106.7
107.3107.5
105.6104.7104.7105.5106.6108.0
108.3108.4109.4109.7110.0109.1
108.1108.8109.3110.1110.8109.6
110.4110.8110.3111.0111.3
2.321.722.622.5
28.325.022.528.426.535.228.930.324.130.2
34.631.638.341.943.954.153.947.456.456.7
47.760.865.672.462.659.073.284.086.378.5
59.559.257.571.986.692.795.2
100.0105.9106.9
102.397.8
90.688.188.994.297.4
100.4
102.398.6
106.5106.7103.6101.3
94.2101.6103.6106.5110.6108.0
106.6106.8104.5108.9109.2
3.122.823.822.0
30.426.226.229.627.332.233.933.231.336.0
36.237.340.543.747.754.159.660.464.769.0
66.970.881.085.779.369.878.287.491.289.8
85.186.378.186.294.690.693.9
100.0104.1108.7
109.4105.8
103.2100.7101.4103.4104.1107.3
108.1108.3108.7108.1108.0107.2
106.9108.3108.3109.1111.5110.2
110.3111.1108.7108.3108.7
20.827.027.727.9
30.331.332.633.533.936.538.840.141.344.1
45.547.049.251.454.056.359.062.064.566.7
67.869.774.276.576.574.980.484.487.887.7
89.189.689.791.993.494.497.6
100.0103.7106.4
107.6109.0
107.8107.3107.1107.2108.1109.0
109.0109.6109.8110.3111.1110.3
110.0109.8110.2110.7110.7109.7
110.8111.2111.3111.7112.0
21.015.015.814.1
15.321.225.527.624.224.727.128.225.227.7
28.528.131.333.135.039.646.149.050.451.8
48.145.049.355.056.852.053.858.864.271.0
74.678.277.076.889.294.894.5
100.0107.6112.3
115.5112.2
113.6112.9112.5112.8112.7112.8
112.8111.6111.8111.9111.4110.9
109.4110.2110.4111.3112.3111.6
111.8112.5111.9112.9113.4
15.814.715.313.4
14.317.519.820.618.119.622.723.619.922.4
23.022.324.325.528.532.637.838.640.342.9
41.339.344.852.454.748.850.656.763.171.5
73.576.172.971.985.491.193.2
100.0111.8119.1
123.1121.5
121.6120.6120.3121.3121.7121.9
122.5121.3122.2122.3121.8121.4
119.9121.0121.5123.0124.5124.1
124.4125.9125.3126.7127.4
4.67.58.89.2
10.826.537.244.639.335.935.136.736.838.8
39.940.646.950.649.054.363.772.772.969.4
58.752.851.350.149.448.549.249.249.551.5
57.458.565.771.878.989.496.0
100.098.097.4
97.391.1
94.494.593.992.591.591.0
90.089.889.189.188.888.1
86.786.285.684.784.283.6
82.781.881.080.579.7
14.222.423.622.4
26.127.427.229.129.032.934.434.433.637.1
37.438.140.442.745.548.451.453.556.659.6
58.760.567.671.969.462.669.074.979.181.2
77.077.075.180.386.288.392.0
100.0104.4106.8
107.7103.4
103.8102.6101.3101.2102.7104.0
104.0104.4104.3104.1103.9103.8
103.9104.0104.4103.9104.4104.4
105.1104.4104.0104.5104.8
38.625.126.223.9
28.631.632.135.632.938.939.939.935.941.4
42.042.045.848.752.658.763.963.367.571.5
69.070.077.284.582.872.681.287.391.895.4
91.392.885.188.396.696.695.9
100.0105.6107.4
107.8105.5
104.8103.9102.6103.4104.5105.4
107.0107.2107.5107.4106.6105.8
105.2105.8106.1106.8107.7107.6
109.0108.1108.0108.1108.6
19.421.522.119.8
24.928.328.933.829.235.735.835.830.135.9
36.335.539.442.145.952.657.955.959.262.3
56.556.864.273.371.259.368.475.381.485.3
79.382.173.479.292.192.993.7
100.0109.0111.6
111.8107.1
106.8105.5103.3104.9106.2106.7
108.2109.1109.3108.8108.6108.1
107.0108.1108.3108.7110.4110.2
111.2111.1110.1110.9111.3
8.9
25.228.930.230.129.934.2
34.836.239.241.645.249.653.654.559.964.9
65.268.074.980.480.871.981.486.789.792.9
88.790.582.189.293.091.794.4
100.0103.0105.3
106.0105.9
104.9103.6102.8103.1103.7104.9
108.1107.8108.3109.6107.7107.1
107.3107.1108.9109.4109.7110.4
111.7110.3110.5110.1111.8
10.4
52.759.362.763.458.862.3
63.163.665.869.772.575.880.683.487.291.7
96.297.1
100.8101.5
98.896.799.0
101.1102.2105.0
106.2104.3100.7
98.9103.8103.4
99.4100.0101.8101.4
102.1102.3
101.1101.1101.3101.1102.4103.4
104.1103 3103.6103.1102.2100.4
100.4100.5100.11013101.3100.6
102.9100.9102.2101.3101.1
1 Two components—oil and gas well drilling and manufactured homes—are included m total equipment, but not in detail shown.
Source. Board of Governors of the Federal Reserve System.
401
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.—Industrial production indexes, selected manufactures, 1947-92
[1987 = 100; monthly data seasonally adjusted]
Year or month
Durable manufactures
Primarymetals
TotalIronand
steel
Fabri-catedmetalprod-ucts
Non-elec-trical
machin-ery
Electri-cal
machin-ery
Transportationequipment
Total
Motorvehicles
andparts
Lumberand
prod-ucts
Nondurable manufactures
Apparelprod-ucts
Textilemill
prod-ucts
Printingand
publish-ing
Chem-icalsand
prod-ucts
Foods
1991 proportion.194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991
1991:JanFebMar
Jay'""!JuneJulyAugSeptOctNovDec
1992: JanFebMar
ZfZJuneJulyAugSeptOct"....Nov...
3.170.273.061.477.384.176.887.070.491.590.987.169.080.780.478.984.691.2102.9113.2120.2111.1115.1123.8115.2109.2122.4138.9134.5107.2119.9121.5130.7133.0110.8117.583.291.0102.4101.893.8100.0110.3109.2108.499.5
99.799.594.794.596.996.4101.2102.6102.3102.6103.5101.3102.5102.7101.4100.9102.0102.1105.6104.3102.0104.7104.8
1.8102.1106.8
91.2112.4125.7110.6127.5
99.1131.8129.3124.6
93.9108.1109.9104.9109.3119.1135.5148.7153.1141.5146.1159.2148.2135.5150.6171.5166.1133.5147.1145.1155.3156.5126.0135.1
86.296.1
105.S104.5
90.8100.0113.8109.3109.9
98.0
99.098.092.091.694.092.999.5
100.6100.8102.4105.6101.7105.0103.7102.5100.9102.2101.8106.4104.4103.0107.1107.6
5.037.538.234.442.245.144.049.644.751.051.853.147.653.453.452.156.758.562.168.373.176.580.681.975.975.682.992.188.476.784.992.796.299.592.591.183.285.593.394.593.8
100.0106.2107.2105.9100.4
101.799.197.898.099.199.8
100.9101.4101.9101.9101.8101.2
99.7100.5100.0100.6102.2102.2102.6102.5101.4102.0102.9
9.912.012.110.311.614.716.016.714.215.617.917.915.017.517.617.119.220.523.326.230.531.131.333.932.830.535.441.444.138.140.045.150.256.960.665.963.964.380.886.890.4
100.0113.8121.8126.5123.5
125.5124.5123.1123.5123.6123.4123.9123.3123.1123.5122.8121.9121.4121.9122.9124.1126.7126.4127.8129.3129.1130.4131.7
8.98.58.88.3
11.311.413.014.913.315.316.516.415.018.219.821.024.124.826.231.337.537.739.842.340.540.746.5.53.052.445.150.758.464.071.373.375.475.980.394.193.194.3
100.0106.5109.5111.4110.1
107.6108.2108.6109.7110.6111.5111.0111.5111.0109.8110.7110.6110.0110.7110.9111.0112.3112.2112.6113.0111.9112.5113.0
9.019.621.421.525.728.733.341.836.441.940.643.534.338.940.337.843.748.049.258.562.761.366.666.155.560.164.173.066.459.768.073.779.581.072.368.764.872.783.191.896.9
100.0105.0107.2105.5
98.6
97.695.595.097.298.299.7
101.399.0
102.2102.4
99.798.093.896.896.598.099.698.296.797.095.697.496.9
3.927.329.630.439.035.830.738.733.344.636.238.028.036.441.136.043.948.649.963.762.655.166.066.353.366.973.085.073.462.281.994.799.291.067.064.458.874.590.699.098.5
100.0105.5104.9
96.890.4
83.079.479.886.289.892.596.791.699.5
100.495.994.687.193.894.298.5
102.7100.4
97.799.497.2
101.4102.1
1.838.840.435.743.443.242.745.144.850.149.545.446.152.349.351.654.456.961.163.565.965.367.267.166.768.578.478.771.466.575.682.383.682.476.974.767.379.986.088.095.1
100.0104.6103.0101.6
94.2
94.291.591.292.792.596.794.895.395.293.896.495.297.498.899.297.297.495.499.898.996.398.2
101.2
2.143.145.044.547.947.049.550.149.554.756.055.854.359.760.961.363.866.468.772.674.574.176.078.475.376.280.981.577.971.183.991.693.9
• 89.089.291.090.193.895.792.696.3
100.0102.2104.3
98.896.2
92.993.192.593.295.296.297.898.398.198.798.899.097.597.797.898.099.098.199.497.697.697.597.9
1.735.237.734.839.639.238.939.937.342.543.741.641.146.445.646.950.151.956.061.064.764.872.376.074.478.586.089.681.577.786.391.692.095.092.189.483.093.293.789.793.9
100.099.8
101.9100.8100.5
94.094.395.497.299.2
101.7104.2104.7103.2105.5104.4102.5103.1104.7105.3106.3106.8105.3107.1106.1105.9104.1105.7
6.722.123.223.824.925.425.326.527.630.332.333.432.634.836.236.437.739.742.144.848.350.951.754.252.753.256.758.357.453.758.764.368.169.970.372.175.279.084.587.690.7
100.0103.6108.5111.9112.3
112.1110.9101.4110.7110.6111.2111.9112.3113.3114.4114.2114.5114.8114.4113.8113.7113.4113.0112.3111.4113.1112.6111.6
8.79.49.3
11.613.113.714.815.017.618.919.920.624.024.926.129.031.734.838.742.244.249.653.755.959.566.973.175.869.177.383.388.091.387.889.281.887.591.491.494.6
100.0105.4108.5110.3110.9
110.1109.1108.2109.0109.2109.6111.5112.3112.6113.5113.0112.6112.7113.4114.8115.8117.0117.5118.0117.6118.1118.4119.6
8.933.132.833.134.335.035.736.437.239.341.542.243.245.446.647.949.551.253.654.856.959.461.063.064.066.069.570.971.971.475.579.081.882.684.686.587.790.192.194.997.4
100.0102.8105.5107.6108.6
108.3107.6107.4107.6107.8108.6108.3108.7109.5109.4110.1109.6109.2109.6110.2109.6109.3109.0109.8110.6110.0110.9111.2
Source: Board of Governors of the Federal Reserve System.
402
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.—Capacity utilization rates, 1948-92
[Percent;1 monthly data seasonally adjusted]
Year or month
19481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984. . ..
1985198619871988198919901991
1991:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992-JanFebMarAprMayJune
JulyAugSeptOct p
Nov"
Totalindustry
86 486.886 9
80.879.284.388.484.2
74.679.383.385.586.2
82.180.975.075.881.1
80.379.281.484.084.283.079.4
80.079.178.478.679.179.6
80.079.879.979.879.378.7
78.078.378.478.779.178.6
79 178 878.578 778.9
Total
82.574 2
82.885 885.489 380.1
87.086 183.675.081.6
80 177.381483.585.6
89 591187 287.286 8
79.778.283.788.183.8
73.278.582.885.185.4
80.278.872.874.980.4
79.579.081.483.983.982.378.2
78.978.077.277.577.878.3
78.778.678.878.778.277.7
77.077.477.577.778.277.8
78.177 977.411177.9
Durablegoods
87 186.886 3
76.774.380.987.582.7
70.275.480.383.584.9
78.676.669.070.578.3
77.876.178.682.582.881 175.8
76.875.874.975.475.776.0
76.476.076.275.975.574.8
73.874.574.374.675.575.0
75.275 274.475 075.2
Manufacturing
Non-durablegoods
86.386.686.6
82.982.886.687.584.0
76.481.885.286.285.1
81.481.078.081.183.1
81.983.085.486.085.5
83.981.5
81.881.080.380.580.781.4
82.082.182.382.481.981.6
81.481.381.7
• 81.881.881.6
82.081681.681481.7
Primaryprocessing
87.376 2
88.590 284.989.480.6
92.089 484.775.483.0
79.877.981 583.887.8
91 091485.486.386.9
80.479.386.491.586.0
72.980.184.086.386.4
78.078.069.074.880.4
79.880.884.987.887.0
84.980.1
80.679.577.978.279.079.9
81.181.281.381.480.880.2
80.280.480.881.181.581.4
82.781781.381682.4
Advancedprocessing
80.073 2
79.883.485.989 380.0
84.284 483.174.981.1
80.577.281.683.484.6
88 891 188.087.486.5
79.177.482.586.582.8
73.577.881.984.384.8
81.379.174.674.980.3
79.478.279.982.382.7
81.277.4
78.277.476.877.377.377.6
77.877.511.177.677.176.6
75.776.176.176.376.876.3
76.276 375.976.276.2
Mining
81.283.586.6
88.987.490.492.592.5
89.990.090.991.391.9
94.094.686.579.984.4
82.978.280.084.685.9
89.488.5
89.590.489.088.387.689.2
89.688.588.587.986.886.2
85.385.784.986.386.985.4
87.686.186.186.286.7
Utilities
93.494.195.8
95.493.994.692.986.8
84.084.884.684.885.9
85.582.879.580.382.5
83.580.282.584.285.4
85.284.7
84.181.683.082.686.786.7
86.285.985.184.885.983.4
82.682.283.183.482.782.1
84.183.683.883.382.8
1 Output as percent of capacity.Source: Board of Governors of the Federal Reserve System.
403
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—New construction activity, 1929-92
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
Totalnew
construc-tion
Private construction
Total
Residentialbuildings2
Total2New
housingunits
Nonresidential buildings and otherconstruction1
TotalCom-mer-cial3
Indus-trial Other4
Public construction
Total Federal State andlocal5
192919331939
19401941194219431944
19451946
New series
194719481949
1950195119521953' 1954
19551956195719581959
1960196119621963
New series
1964
196519661967....19681969
19701971197219731974
1975 ,...1976197719781979
19801981198219831984
19851986198719881989
19901991
10.82.98.2
8.712.014.18.35.3
5.814.3
20.026.126.7
33.635.436.839.141.4
46.547.649.150.055.4
54.756.460.264.8
72.1
78.081.283.092.499.8
100.7117.3133.3146.8147.5
145.6165.4193.1230.2259.8
259.7272.0260.6294.9348.8
377.4407.7419.4432.3443.4
442.1401.0
8.31.24.4
5.16.23.42.02.2
3.412.1
16.721.420.5
26.726.226.027.929.7
34.834.935.134.639.3
38.939.342.345.5
51.9
56.157.457.665.072.0
72.887.6
103.3114.5109.3
102.3121.5150.0180.0203.2
196.1207.3197.5231.5278.6
299.5323.1328.7337.5345.3
334.2290.7
3.6.5
2.7
3.03.51.7.9
1.36.2
9.913.112.4
18.115.915.816.618.2
21.920.219.019.824.3
23.023.125.227.9
30.5
30.228.628.734.237.2
35.948.560.765.156.0
51.668.392.0
109.8116.4
100.499.284.7
125.5153.8
158.5187.1194.7198.1196.6
182.9157.8
3.0.3
2.3
2.63.01.4.7.6
.74.8
7.810.510.0
15.613.212.913.414.9
18.216.114.715.419.2
17.317.119.421.7
24.1
23.821.821.526.729.2
27.138.750.154.643.4
36.350.872.285.689.3
69.669.457.094.6
113.8
114.7133.2139.9138.9139.2
128.0110.6
4.7.8
1.7
2.12.71.71.11.4
2.15.8
6.98.28.0
8.610.310.211.311.5
12.914.716.114.815.1
15.916.217.217.6
21.4
25.828.828.830.834.8
37.039.142.649.453.4
50.753.258.070.286.8
95.7108.0112.9106.0124.8
141.1136.0134.1139.4148.8
151.3132.9
1.01.41.2
1.41.51.11.82.2
3.23.63.63.63.9
4.24.75.15.0
6.8
8.18.18.09.0
10.8
11.213.115.718.118.1
14.314.116.420.628.3
34.640.244.143.959.1
72.669.568.971.573.9
72.554.8
0.9.2.3
1.71.41.0
1.12.12.32.22.0
2.43.13.62.42.1
2.92.82.82.9
3.6
5.16.66.06.06.8
6.65.54.86.48.1
8.37.48.0
11.515.6
14.618.018.513.814.8
17.114.915.016.520.4
23.822.3
2.6.5
1.2
1.31.51.2
.91.1
1.33.0
4.25.55.9
6.16.76.87.37.2
7.38.09.08.89.0
8.98.79.29.7
11.0
12.614.114.915.817.2
19.220.522.124.927.2
28.231.633.738.242.8
46.649.850.248.250.8
51.351.650.151.554.5
54.955.8
2.51.63.8
3.65.8
10.76.33.1
2.42.2
3.34.76.3
6.99.3
10.811.211.7
11.712.714.115.516.1
15.917.117.919.4
20.2
21.923.825.427.427.8
27.929.730.032.338.1
43.344.043.150.156.6
63.664.763.163.570.2
77.884.690.694.898.1
107.9110.2
0.2.5
1.23.89.35.62.5
1.7.9
1.21.5
1.63.04.24.13.4
2.82.73.03.43.7
3.63.93.94.0
3.7
3.93.83.33.23.2
3.13.84.24.75.1
6.16.87.18.18.6
9.610.410.010.611.2
12.012.414.112.312.2
12.112.9
2.31.13.1
2.42.01.3
.7
.6
.71.4
2.53.54.8
5.26.36.67.18.3
8.910.011.112.112.3
12.213.314.015.4
16.5
18.020.022.124.224.6
24.825.925.827.633.0
37.237.236.042.048.1
54.054.353.152.959.0
65.872.276.682.585.9
95.897.3
See next page for continuation of table.
404
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—New construction activity, 1929-92—Continued
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1991:JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992:JanFebMarAprMayJune
JulyAugSeptOct"Nov"
Totalnew
construc-tion
400.4403.8397.2403.3396.0394.3
397.0404.8406.0406.1401.2398.7
407.1411.8421.5427.6428.0426.7
425.7419.6429.3432.8441.8
Private construction
Total
298.8295.1286.8294.2286.1286.3
287.7291.8293.6291.7288.3287.4
292.5294.8301.1309.8307.0312.2
305.8302.0308.8314.4319.6
Residentialbuildingsx
Total2
157.4151.8149.4148.3151.7154.9
157.0161.5164.2164.7164.5164.1
169.5169.8172.7182.6182.9184.6
181.2184.2186.3190.8193.5
Newhousing
units
107.4103.4101.5101.2104.6107.7
110.0114.4117.1117.5118.0118.3
122.0123.3125.9128.8128.1128.7
126.9129.1131.4135.1138.3
Nonresidential buildings and otherconstruction 1
Total
141.3143.3137.4146.0134.3131.4
130.7130.3129.5127.0123.9123.3
123.0125.0128.5127.2124.1127.6
124.7117.8122.5123.7126.2
Com-mer-cial3
64.063.359.463.257.954.5
53.552.552.349.045.944.9
44.545.045.444.642.646.5
42.940.142.244.244.4
Indus-trial
23.424.423.425.921.421.2
21.321.420.721.121.622.4
21.321.723.721.321.020.3
20.617.919.018.619.0
Other4
53.955.754.556.955.155.8
55.956.356.556.956.456.0
57.258.359.461.260.560.7
61.259.861.260.862.8
Public construction
Total
101.7108.6110.4109.0110.0107.9
109.3113.1112.4114.4112.9111.4
114.6117.0120.4117.8121.0114.5
119.9117.6120.5118.4122.2
Federal
10.810.711.813.212.712.9
12.613.614.713.715.013.8
14.314.114.914.214.414.6
14.813.816.415.115.8
State andlocal5
90.897.998.695.897.395.0
96.799.597.7
100.797.997.5
100.3102.9105.5103.5106.5100.0
105.0103.8104.0103.3106.3
1 Beginning 1960, farm residential buildings included in residential buildings; prior to I960, included in nonresidential buildings andother construction.
2 Includes residential improvements, not shown separately. Prior to 1964, also includes nonhousekeeping units (hotels, motels, etc.).3 Office buildings, warehouses, stores, restaurants, garages, etc., and, beginning 1964, hotels and motels; prior to 1964 hotels and
motels are included in total residential.4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm (see also footnote 1), public utilities
(telecommunications, gas, electric, railroad, and petroleum pipelines), and all other private.5 Includes Federal grants-in-aid for State and local projects.
Source: Department of Commerce, Bureau of the Census.
41)5
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-51.—Nav housing units started and authorized, 1959-92
[Thousands of units]
Year or month
195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991
1991: JanFebMar
May"!!!!!!!!!!!!!!!!!!!'June
JulyAugSeptOctNovDec
1992:JanFebMar
May"!!!!!!!!!!!!!!!!!!!!June
JulyAugSeptOct p
N o v "
New housing units started
Private and public'
Total(farm andnonfarm)
1,553.71,296.11,365.01,492.51,634.91,561.01,509.71,195.81,321.91,545.41,499.51,469.02,084.52,378.52,057.51,352.51,171.41,547.62,001.72,036.11,760.01,312.61,100.31,072.11,712.51,755.81,745.01,807.11,622.7
( 4 )( 4 )( 4 )
Nonfarm
1,531.31,274.01,336.81,468.71,614.81,534.01,487.51,172.81,298.81,521.41,482.3
(;
( :
Private (farm and nonfarm)>
Total
1,517.01,252.21,313.01,462.91,603.21,528.81,472.81,164.91,291.61,507.61,466.81,433.62,052.22,356.62,045.31,337.71,160.41,537.51,987.12,020.31,745.11,292.21,084.21,062.21,703.01,749.51,741.81,805.41,620.51,488.11,376.11,192.71,013.9
Type of structure
1 unit
1,234.0994.7974.3991.4
1,012.4970.5963.7778.6843.9899.4810.6812.9
1,151.01,309.21,132.0
888.1892.2
1,162.41,450.91,433.31,194.1
852.2705.4662.6
1,067.61,084.21,072.41,179.41,146.41,081.31,003.3
894.8840.4
2 to 4units
5 unitsor more
283.0257.4338.7471.5590.8
108.486.661.171.680.985.084.8
120.3141.3118.368.164.085.9
121.7125.0122.0109.591.180.0
113.5121.493.484.065.358.855.237.535.6
450.0422.5325.1376.1527.3571.2535.9780.9906.2795.0381.6204.3289.2414.4462.0429.0330.5287.7319.6522.0544.0576.1542.0408.7348.0317.6260.4137.9
New private housing units authorized 2
Total
1,208.3998.0
1,064.21,186.61,334.71,285.81,239.8
971.91,141.01,353.41,323.71,351.51,924.62,218.91,819.51,074.4
939.21,296.21,690.01,800.51,551.81,190.6
985.51,000.51,605.21,681.81,733.31,769.41,534.81,455.61,338.41,110.8
948.8
Type of structure
1 unit
938.3746.1722.8716.2750.2720.1709.9563.2650.6694.7625.9646.8906.1
1,033.1882.1643.8675.5893.6
1,126.11,182.6
981.5710.4564.3546.4901.5922.4956.6
1,077.61,024.4
993.8931.7793.9753.5
2 to 4units
Seasonally adjusted annual rates
77.164.667.687.1
118.9100.884.861.073.084.385.288.1
132.9148.6117.064.363.993.1
121.3130.6125.4114.5101.888.3
133.6142.6120.1108.489.375.767.054.343.1
5 unitsor more
192.9187.4273.8383.3465.6464.9445.1347.7417.5574.4612.7616.7885.7
1,037.2820.5366.2199.8309.5442.7487.3444.8365.7319.4365.8570.1616.8656.6583.5421.1386.1339.8262.6152.1
8441,008918978983
1,0361,0531,0531,0201,0851,0851,1181,1801,2571,3401,0861,1961,1471,1001,2331,2221,2241,242
644803751802830870881881864887907972989
1,1091,068933
1,019999956
1,0421,0511,0861,100
3036273236264641284933462824532733402532271933
170169140144117140126131128149145100163124219126144108119159144119109
801857918913988956971940974994979
1,0731,1061,1461,0941,0581,0541,0321,0801,0761,1251,1391,126
597682704740761759782764782788792873913946907873879872879877913959955
4042464640493943434146434744414446484253475049
164133168127187148150133149165141157146156146141129112159146165130122
1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Housing Act, are included in publicly owned starts and excluded fromtotal private starts.
2 Authorized by issuance of local building permit: in 17,000 permit-issuing places beginning 1984; in 16,000 places for 1978-83; in14,000 places for 1972-77; in 13,000 places for 1967-71; in 12,000 places for 1963-66; and in 10,000 places prior to 1963.
3 Not available separately beginning January 1970.4 Series discontinued December 1988.
Source: Department of Commerce, Bureau of the Census.
406
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-52.—Business expenditures for new plant and equipment, 1947-93
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
199019911992 5
1993 5
1991:1IIIllIV
1992:1IIIllIV5
1993: I 5
II5
Allindus-tries
20.1122.7820.28
21.5626.8128.1629.9628.86
30.9437.9040.5433.8435.88
39.4438.3440.8643.6751.26
59.5270.4072.7576.4285.74
91.9192.91
103.40120.03139.67
142.42158.44184.82216.81255.26
286.40324.73326.19321.16373.83
410.12399.36410.52455.49507.40
532.61528.39547.39576.55
534.27525.02526.59529.87
535.72540.91547.53565.40
576.07591.20
Industries surveyed quarterly
Manufacturing
Total
8.739.257.32
7.7311.0712.1212.4312.00
12.5016.3317.5012.9813.76
16.3615.5316.0317.2721.23
25.4131.3732.2532.3436.27
36.9933.6035.4242.3552.48
53.6658.5367.4878.1395.13
112.60128.68123.97117.35139.61
152.88137.95141.06163.45183.80
192.61182.81173.48182.57
190 83186.52177.48179.06
173.98171.78172.23175 93
183.93185.40
Dura-ble
goods
3.393.542.67
3.225.125.755.715.49
5.878.198.596.216.72
8.287.437.818.64
10.98
13.4917.2317.8317.9319.97
19.8016.7818.2222.6326.77
25.3727.5032.7739.0247.72
54.8258.9354.5851.6164.57
70.8765.6868.0377.0482.56
82.5877.6474.0776.08
80 9979.3174.9476.40
74.1974.2671.8475 98
77.3075.87
Non-durablegoods
5.345.714.64
4.515.956.376.726.51
6.628.158.916.777.04
8.088.108.228.63
10.25
11.9214.1514.4214.4016.31
17.1916.8217.2019.7225.71
28.2831.0334.7139.1047.41
57.7769.7569.3965.7475.04
82.0172.2873.0386.41
101.24
110.04105.1799.41
106.49
109 84107.20102.55102.66
99.7997.52
100.3999 95
106.63109.52
Total2
11.3813.5312.96
13.8315.7416.0417.5316.85
18.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91
117.34138.69160.13
173.80196.06202.22203.82234.22
257.24261.40269.46292.04323.60
339.99345.58373.91393.97
343 44338.50349.10350.81
361.73369.13375.30389 48
392.14405.80
Nonmanufacturing
Min-ing
0.69.93.88
.841.111.211.251.29
1.311.641.691.431.35
1.291.261.411.261.33
1.361.421.381.441.77
2.022.672.883.304.58
6.127.639.81
10.5511.05
12.7115.8114.1110.6411.86
12.008.158.289.299.21
9.8810.029.259.97
9 9410.0810.099.99
8.879.189.099 87
10.9710.36
Trans-porta-tion
2.693.172.80
2.873.603.563.582.91
3.103.563.842.723.47
3.543.143.593.644.71
5.666.686.576.917.23
7.176.427.148.009.16
9.9511.1012.2012.0713.91
13.5612.6711.7510.8113.44
14.5715.0515.0716.6318.84
21.4722.6623.6523.75
22 9822.8722.5622.29
21.8823.5124.6924 54
23.4726.77
Publicutili-ties
1.642.673.28
3.423.753.964.614.23
4.264.785.955.745.46
5.405.205.125.335.80
6.497.829.33
10.5211.70
13.0314.7016.2617.9919.96
20.2322.9027.8332.1037.53
41.3247.1753.5852.9557.53
59.5856.6156.2660.3766.28
67.2166.5772.1979.83
67 0165.0966.5267.42
68.8172.6371.6675 65
77.7079.62
Com-mercial
andother
6.386.776.01
6.707.297.318.098.42
9.7711.5911.5610.9711.84
12.8613.2114.7116.1718.20
20.6023.1123.2225.2228.77
32.7135.5241.6948.3953.49
52.4758.2967.5183.9697.64
106.21120.41122.79129.41151.39
171.09181.59189.84205.76229.28
241.43246.32268.81280.43
243 51240.46249.94251.11
262.17263.80269.86279 42
280.00289.05
Totalnon-farmbusi-
ness 3
22.2725.9724.03
25.8131.3832.1634.2033.62
37.0845.2548.6242.5545.17
48.9948.1451.6153.5962.02
70.7982.6283.8288.92
100.02
106.15109.18120.91139.26159.83
162.60179.91208.15244.40285.24
318.08358.77363.08359.73418.38
454.93447.11461.51508.22563.93
591.96587.93
fac-tur-ing
8.739.257.32
7.7311.0712.1212.4312.00
12.5016.3317.5012.9813.76
16.3615.5316.0317.2721.23
25.4131.3732.2532.3436.27
36.9933.6035.4242.3552.48
53.6658.5367.4878.1395.13
112.60128.68123.97117.35139.61
152.88137.95141.06163.45183.80
192.61182.81173.48182.57
190 83186.52177.48179.06
173 98171.78172.23175 93
183 93185.40
\ddenda
Nonmanufacturing
Total
13.5416.7316.72
18.0820.3120.0421.7721.62
24.5828.9131.1129.5731.41
32.6332.6035.5836.3340.80
45.3951.2551.5756.5863.74
69.1675.5885.4996.91
107.35
108.95121.38140.67166.27190.11
205.48230.09239.11242.38278.77
302.05309.16320.45344.77380.13
399.34405.12
Sur-veyedquar-terly
11.3813.5312.96
13.8315.7416.0417.5316.85
18.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91
117.34138.69160.13
173.80196.06202.22203.82234.22
257.24261.40269.46292.04323.60
339.99345.58373.91393.97
343 44338.50349.10350.81
361.73369.13375.30389.48
392.14405.80
Sur-veyedannu-ally4
2.163.193.76
4.254.574.004.234.76
6.147.358.088.729.29
9.559.80
10.759.93
10.76
11.2712.2211.0712.5014.27
14.2416.2617.5119.2420.16
20.1921.4723.3327.5829.98
31.6834.0436.8938.5644.55
44.8147.7550.9952.7356.53
59.3559.54
1 These industries accounted for 90 percent of total nonfarm spending in 1991.2 Excludes forestry, fisheries, and agricultural services; professional services; social services and membership organizations; and real
estate, which, effective with the April-May 1984 survey, are no longer surveyed quarterly. See last column ("nonmanufacturing surveyedannually") for data for these industries.
3 "All industries" plus the part of nonmanufacturing that is surveyed annually.4 Consists of forestry, fisheries, and agricultural services; professional services; social services and membership organizations; and
real estate.5 Planned capital expenditures as reported by business in October and November 1992, corrected for biases.
Source: Department of Commerce, Bureau of the Census.
407
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TABLE B-53.—Manufacturing and trade sales and inventories, 1950-92
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
Total manufacturing andtrade
Sales'Inven-
tories 2 Ratio'
Manufac-turing
Sales' Inven-tories2 Ratio3
Merchantwholesalers
Sales] Inven-tories2 Ratio3
Retailtrade
Sales'Inven-
tories2 Ratio3
1950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991: Jan
FebMar
fc=JuneJulyAugSeptOctNovDec
1992: JanFebMar
fcJuneJulyAugSeptOct pNov "
38,59643,35644,84047,98746,44351,69454,06355,87954,20159,72960,82761,15965,66268,99573,68280,28387,18790,91898,794105,812108,352117,023131,227153,881178,201182,412204,386229,786260,755298,328328,112356,909348,771370,501411,427423,940431,786459,107496,334522,344540,788533,838526,917527,778521,823530,940535,424534,831538,852536,825538,952540,772540,029531,919536,977544,017545,424547,081546,145554,363559,701552,480558,745560,866
59,82270,24272,37776,12273,17579,51687,30489,05287,05592,09794,71995,580101,049105,463111,504120,929136,824145,681156,611170,400178,594188,991203,227234,406287,144288,992318,345350,706400,929452,636510,124547,169575,486591,858651,527665,837664,654711,745767,387813,018835,985828,184840,981838,491829,818828,508824,177820,671819,898819,684822,418824,342825,156828,184824,150824,609826,204828,630828,032831,872835,373836,972835,457835,819
1.361.551.581.581.601.471.551.591.611.541.561.561.541.531.511.511.571.601.591.611.651.611.551.521.611.581.561.531.541.521.551.531.671.561.531.551.551.501.501.531.531.551.601.591.591.561.541.531.521.531.531.521.531.561.531.521.511.511.521.501.491.511.501.49
18,63421,71422,52924,84323,35526,48027,74028,73627,24830,28630,87830,92233,35835,05837,33140,99544,87046,48650,22953,50152,80555,90663,02772,93184,79086,58998,797113,201126,905143,936154,391168,129163,351172,547190,682194,538194,657206,326223,541232,724239,459235,142232,505231,250225,473233,029235,653234,907237,616237,844238,836240,912240,980232,730233,247237,898240,684241,749241,479247,252247,216241,014245,838244,391246,962
31,07839,30641,13643,94841,61245,06950,64251,87150,20352,91353,78654,87158,17260,02963,41068,20777,98684,64690,56098,145101,599102,567108,121124,499157,625159,708174,636188,378211,689242,153265,213283,401311,834312,362339,492334,801322,699338,095367,396386,784398,851386,043398,901398,563396,329395,738392,533391,038388,774387,900389,552388,555388,279386,043384,434383,255383,239382,206383,286382,854383,491385,596384,390383,708381,772
1.481.661.781.761.811.621.731.801.841.751.741.771.741.711.701.661.741.821.801.831.921.831.721.711.861.841.771.661.671.681.721.691.951.781.731.731.681.591.581.641.651.671.721.721.761.701.671.661.641.631.631.611.611.661.651.611.591.581.591.551.551.601.561.571.55
7,6958,5978,7829,0528,9939,89310,51310,47510,25711,49111,65611,98812,67413,38214,52915,61116,98719,67521,12122,94024,29826,61930,01138,31948,27146,84850,93456,40966,84979,67893,977102,26796,357100,440113,502114,816116,326124,340135,254144,039149,204145,135144,931144,118142,728144,902145,085145,255146,576145,214146,045145,396145,075144,909145,922146,366146,867146,947145,555148,129151,701150,467150,736151,295151,884
9,2849,88610,21010,68610,63711,67813,26012,73012,73913,87914,12014,48814,93616,04817,00018,31720,76525,78627,16629,80033,35436,56840,29746,91858,66757,77464,62273,17986,93499,679123,833131,049129,024131,663144,223149,155155,445165,814180,717188,635196,917198,979199,781199,642197,863196,593195,308194,470195,421195,607194,386195,776195,998198,979198,730199,416198,677198,432197,397200,205200,500201,074199,925201,713203,582
1.071.161.121.171.181.131.191.231.241.211.211.211.181.201.171.171.221.311.291.301.371.371.341.221.221.231.271.301.301.251.321.281.361.281.231.281.321.291.301.281.291.361.381.391.391.361.351.341.331.351.331.351.351.371.361.361.351.351.361.351.321.341.331.331.34
12,26813,04613,52914,09114,09515,32115,81116,66716,69617,95118,29418,24919,63020,55621,82323,67725,33024,75727,44529,37131,24934,49738,18942,63145,14148,97554,65560,17667,00274,71379,74386,51489,06297,514107,243114,586120,803128,442137,539145,580152,126153,562149,481152,410153,622153,009154,686154,669154,660153,767154,071154,464153,974154,280157,808159,753157,873158,385159,111158,982160,784160,999162,171165,180
19,46021,05021,03121,48820,92622,76923,40224,45124,11325,30526,81326,22127,94129,38631,09434,40538,07335,24938,88542,45543,64149,85654,80962,98970,85271,51079,08789,149102,306110,804121,078132,719134,628147,833167,812181,881186,510207,836219,274237,599240,217243,162242,299240,286235,626236,177236,336235,163235,703236,177238,480240,011240,879243,162240,986241,938244,288247,992247,349248,813251,382250,302251,142250,398
1.381.641.521.531.511.431.471.441.441.411.471.441.421.431.421.451.501.421.421.451.401.451.441.481.571.461.451.481.531.481.521.531.491.441.491.521.561.551.551.591.571.551.621.581.531.541.531.521.521.541.551.551.561.581.531.511.551.571.551.571.561.551.551.52
1 Annual data are averages of monthly not seasonally adjusted figures.2 Seasonally adjusted, end of period. Inventories beginning January 1982 for manufacturing and December 1980 for wholesale and
retail trade are not comparable with earlier periods.3 Inventory/sales ratio. Annual data are: beginning 1982, averages of monthly ratios; for 1958-81, ratio of December inventories to
monthly average sales for the year; and for earlier years, weighted averages. Monthly data are ratio of inventories at end of month tosales for month.
Note.—Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale andretail trade.
Source: Department of Commerce, Bureau of the Census.
408
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TABLE B-54.—Manufacturers' shipments and inventories, 1950-92
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
1950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991: Jan
FebMarAprMayJune....JulyAugSept....OctNovDec
1992:JanFebMarAprMayJune....JulyAugSept....Oct"...Nov "...
Shipments'
Total
18,6342171422,52924 84323,35526 48027,74028,73627,24830,28630,87830,92233,35835,05837,33140,99544 87046,48650 22953,501
52,80555,90663,02772 93184,79086,58998,797113,201126,905143,936154,391168,129163,351172,547190,682194,538194,657206,326223,541232,724239,459235,142232,505231,250255,473223,029235,653234,907237,616237,844238,836240,912240,980232,730233,247237,898240,684241,749241,479247,252247,216241,014245,838244,391246,962
Dura-ble
goodsindus-tries
8,84510 49311,31313 34911,82814 07114,71515,23713,55315,59715,87015,60117,24718,25519,61122,19324 61725,23327 62429,40328,15629,92433,98739 63544,17343,59850,62359,16867,73175,92777,41983,72779,21285,48197,940101,279103,238108,128117,993121,703122,387118,548115,648115,283111,617117,640118,439118,904120,222121,021121,958122,771122,814116,869118,698121,991123,503123,483122,344125,831124,789123,364125,346125,162127,556L
Non-durablegoodsindus-tries
9 789li 22111,2161149411,52712 40913,02513,49913,69514,68915,00815,32116,11116,80317,72018,80220 25321,25322 60524,09824,64925,98229,04033 29640,61742,99148,17454,03359,17468,00976,97284,40284,13987,06692,74293,25991,41998,198105,549111,022117,072116,593116,857115,967113,856115,389117,214116,003117,394116,823116,878118,141118,166115,861114,549115,907117,181118,266119,135121,421122,427117,650120,492119,229119,406
Total
31,07839 3064113643 94841,61245 06950,64251,87150,20352,91353,78654,87158,17260,02963,41068,20777 98684,64690 56098,145
101,599102,567108,121124 499157,625159,708174,636188,378211,689242,153265,213283,401311,834312,362339,492334,801322,699338,095367,396386,784398,851386,043398,901398,563396,329395,738392,533391,038388,774387,900389,552388,555388,279386,043384,434383,255383,239382,206383,286382,854383,491385,596384,390383,708381,772
Inventories2
Durable goods industries
Total
15,53920 99123,73125 87823,71026 40530,44731,72830,19432,01232,33732,49634,56535,77638,42142,18949 85254,89658 73264,598
66,65166,13670,06781192101,493102,590111,988120,877138,176160,728174,783186,429200,423199,831221,304218,211212,027220,786241,356255,911259,746246,966259,208259,195257,407256,693254,099252,919251,459250,520251,319249,738249,202246,966245,754244,395243,787242,512242,447241,891241,258242,036240,550239,390237,735
Mate-rialsand
supplies
8 9667,894919410,41710,6089,97010,70910,30610,24610,79411,05311,94613,29815 46416,42317 34418,636
19,14919,67920,80725 94435,07033,90337,45740,18645,20252,67555,17557,99959,13460,32166,02564,00461,40763,60269,34871,86972,69767,64572,69572,54071,73970,99170,27169,30568,76968,81668,77368,56268,26467,64567,56667,00266,54266,53566,73567,30466,80067,30467,29666,32766,104
Workin
proc-ess
10 7209,72110 75612,31712,83712,40813,08612,80913,21114,12414,83516,15818,0552190824,93327 21330,282
29,74528,55030,71335 49042,53043,22746,07450,22658,83969,31676,93780,99086,69886,89298,24798,09496,954102,369112,420121,954122,564117,575122,542122,411122,024121,490120,707121,110120,484119,452120,114118,868118,751117,575116,593115,848115,330114,004113,727112,540111,644111,741110,652111,129109,939
Finishedgoods
6 2066,0406 3487,5658,1257,8168,2179,2229,0399,6479,88810,31710,83612 48013,5401417515,68017,75717,90718,54719 75823,89325,46028,45730,46534,13538,73742,67147,44054,59152,61857,03256,11353,66654,81559,58862,08864,48561,74663,97164,24463,64464,21263,12162,50462,20662,25262,43262,30862,18761,74661,59561,54561,91561,97361,98562,04762,81462,99162,60261,93461,692
Nondurable goods industries
Total
15,53918 31517,40518 07017,90218 66420,19520,14320,00920,90121,44922,37523,60724,25324,98926,01828 13429,7503182833,547
34,94836,43138,05443 30756,13257,11862,64867,50173,51381,42590,43096,972111,411112,531118,188116,590110,672117,309126,040130,873139,105139,077139,693139,368138,922139,045138,434138,119137,315137,380138,233138,817139,077139,077138,680138,860139,452139,694140,839140,963142,233143,560143,840144,318144,037
Mate-rialsand
supplies
8 3178,1678 5568,9718,7758,6769,0949,0979,5059,83610,00910,16710,4871119711,76012 32812,753
13,16813,68614,6771814723,74423,56525,84727,38729,62032,81436,60738,16744,04244,82245,69744,09542,32345,30249,04649,64351,60351,89052,20851,83451,81951,72151,54551,55751,71151,41651,50851,81151,44051,89051,60851,55551,75051,88052,06052,52852,96252,78252,91452,83852,396
Workin
proc-ess
2 4722,4402 5712,7212,8642,8272,9422,9473,1083,3043,4203,5313,8254 2264,4314 8525,1205,2715,6785,9986 7298,1898,8349,92910,96112,08413,91115,88616,19418,61318,69619,33119,45118,12519,27520,44021,24822,43422,00222,01421,95821,60221,91921,86722,02021,86421,94022,38322,44922,10122,00222,21822,35222,37422,57822,61122,64522,64322,95723,07522,96322,898
Finishedgoods
7 4097,4157 6668,6228,6248,5068,8659,4059,76210,46710,82411,29111,70612 71113,55914 64815,674
16,50917,06717,37918 43124,19924,71926,87229,15331,80934,70037,93742,61148,75649,01353,16053,04450,22452,73256,55459,98265,06865,18565,47165,57665,50165,40565,02264,54263,74064,02464,34264,55765,53665,18564,85464,95365,32865,23665,16865,79066,62867,82167,85168,51768,743
L1 Annual data are averages of monthly not seasonally adjusted figures.2 Seasonally adjusted, end of period. Data beginning 1982 are not comparable with data for prior periods.
Note.—Data beginning 1958 are not strictly comparable with earlier data.
Source: Department of Commerce, Bureau of the Census.
409
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TABLE B-55.—Manufacturers' new and unfilled orders, 1950-92
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988.1989199019911991: Jan....
FebMar....AprMay....June...
July....Aug....Sept...OctNov....Dec...
1992: Jan....FebMar...AprMay....June..July....Aug...Sept..Oct p.,Nov *.
New orders »
Total
20,11023,90723,20423,58622,33527,46528,36827,55927,19330,71130,23231,11233,44035,51138,24042,13746,42047,06750,65753,99052,02255,92164,18276,00387,32785,13999,513
115,109131,629147,604156,359168,025162,140175,451192,879195,706195,204209,389227,026235,905240,417233,774233,014231,894222,922229,280234,047229,219244,580239,750233,703238,542238,679229,925232,467233,388237,606240,771238,696244,542242,307236,880239,951244,777242,556
Durable goodsindustries
Total
10,16512,84112,06112,14710,76814,99615,36514,11113,38715,97915,28815,75317,36318,67120,50723,28626,16325,80328,05129,87627,34029,90535,03842,62746,86241,95751,30761,03572,27879,48379,39283,65478,06488,140100,164102,356103,647110,809121,445124,906123,324117,063116,327116,021109,017113,934115,987113,478127,153122,630116,528120,227120,343113,921118,011117,750120,187122,393119,808123,164119,861119,376119,801125,30212297£
Capitalgoodsindus-tries,non-
defense
6,3147,0466,0726,6827,7459,92611,5949,88611,49013,68117,58821,15421,13521,80619,21319,62423,66924,54523,98326,09530,72932,72532,22729,86232,34931,93830,54827,20726,61627,55934,98129,46328,76229,45333,06626,96930,09329,46332,16329,90130,46930,95329,29628,15330,57131,66528,651
Non-durable
fustries
9,94511,06611,14311,43911,56612,46913,00313,44813,80514,73214,94415,35916,07816,84017,73218,85120,25821,26522,60624,11424,68226,01629,14433,37640,46543,18148,20654,07359,35168,12176,96784,37184,07787,31192,71593,35191,55798,579105,581110,999117,093116,712116,687115,873113,905115,346118,060115,741117,427117,120117,175118,315118,336116,004114,456115,638117,419118,378118,888121,378122,446117,504120,150119,475119,578
Unfilled orders2
Total
41,45667,26675,85761,17848,26660,00467,37553,18346,60951,71744,21346,62447,79853,41764,51878,24996,846103,711108,377114,341
105,008105,247119,349156,561187,043169,546178,128202,022259,169303,593327,414326,550311,889347,272373,524387,087393,403430,287471,942510,112521,811505,631522,320522,964520,413516,664515,058509,370516,334518,240513,107510,737508,436505,631504,851500,341497,263496,285493,502490,792485,883481,749475,862476,248471,842
Durablegoods
industries
35,43563,39472,68058,63745,25056,24163,88050,35243,80748,36941,65043,58245,17050,34661,31574,45993,00299,735104,393110,161100,412100,225113,034149,204181,519161,664169,857193,321248,281291,320315,200314,709300,799333,113359,644372,017376,613408,600449,989488,431499,828482,208500,507501,245498,645494,939492,487487,061493,992495,601490,171487,627485,156482,208481,521477,280473,964472,874470,338467,671462,743458,755453,210453,350448,772
Non-durablegoods
industries
6,0213,8723,1772,5413,0163,7633,4952,8312,8023,3482,5633,0422,6283,0713,2033,7903,8443,9763,9844,1804,5965,0226,3157,3575,5247,8828,2718,70110,88812,27312,21411,84111,09014,15913,88015,07016,79021,68721,95321,68121,98323,42321,81321,71921,76821,72522,57122,30922,34222,63922,93623,11023,28023,42323,33023,06123,29923,41123,16423,12123,14022,99422,65222,89823,070
Unfilled orders—shipmentsratio3
Total
3.423.633.873.353.022.942.712.582.642.742.993.253.743.663.833.743.643.363.273.834.123.723.263.253.573.893.853.873.843.543.603.673.593.633.633.994.124.054.164.184.254.114.094.024.054.043.983.943.924.054.013.913.843.833.843.713.673.743.633.643.57
Durablegoods
industries
4.124.274.554.003.623.473.293.083.183.313.593.864.484.374.644.504.404.063.884.554.974.503.903.874.204.624.584.684.744.294.374.474.404.424.454.895.095.005.155.185.295.075.044.945.004.974.894.834.805.004.914.784.684.684.714.524.504.564.414.444.34
Non-durablegoodsindus-tries
0.961.121.04.85.85.92.71.78.68.72.71.79.75.73.69.69.76.76.86.91.62.82.74.71.81.82.75.69.62.69.64.68.70.83.76.77.77.83.77.77.78.78
.78
.80
.81
.80
.82
.83
.84
.82
.82
.82
.81
.80
.79
.82
.79
.79
.81
1 Annual data are averages of monthly not seasonally adjusted figures.2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual figures relate
to seasonally adjusted data for December.
Note.—Data beginning 1958 are not strictly comparable with earlier data.
Source-. Department of Commerce, Bureau of the Census.
410
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PRICES
TABLE B-56.—Consumer price indexes for major expenditure classes, 1930-92
[For all urban consumers; 1982-84 = 100]
Year ormonth
1950195119521953195419551956195719581959196019611962196319641965 ... .196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991: Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMarAprMayJune....JulyAugSept....OctNov
All items(CPI-U)
24.126.026 526.726.926 811128 128.929 129.629.930 230.631.031532.433.434.836.738.840.541.844 449.353.856.960.665.272.682.490.996.599.6
103.9107.6109.6113.6118.3124.0130.7136.2134.6134.8135.0135.2135.6136.0136.2136.6137.2137.4137.8137.9138.1138.6139.3139.5139.7140.2140.5140.9141.3141.8142.0
Food and
beverages
Totall
35.0'36.238.140.141.443.148 855.560.262.165.872.279.986.793.597.399.5
103.2105.6109.1113.5118.2124.9132.1136.8135.9136.0136.3137.2137.3137.7137.1136.6136.7136.5136.9137.3137.9138.1138.8138.8138.3138.3138.1138.8139.3139.2139.1
Food2
25 428.228 728.328 227 828 028 930.229 730.030.430.631.131.532 233.834.135.337.139.240.442.148 255.159.861.665.572.079.986.893.697.499.4
103.2105.6109.0113.5118.2125.1132.4136.3135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7137.2137.5138.1138.1137.4137.4137.2138.0138.5138.3138.3
Housing
Total
30.8'32.034.036.438.039.441 245.850.753.857.462.470.1
81.190.496.999.5
103.6107.7110.9114.2118.5123.0128.5133.6131.8132.4132.6132.5132.8133.4134.2134.5134.7134.7134.7135.0135.7136.1136.6136.5136.7137.7138.3138.6138.4138.5138.5
Shel-ter2
22.022.522 723.124 024.524.725.225.425.826.126.527 027.828.830.132.635.537.038.740 544.448.851.554.960.568.981.090.596.999.1
104.0109.8115.8121.3127.1132.8140.0146.3144.0144.6145.2145.2145.2145.8146.8147.3147.4147.7147.9148.2149.2149.8150.4150.2150.2151.1151.8152.3151.9152.5152.4
Fuel andother
utilities2
22.522 623 023 624 324.825.426.026.326 326.626.626 626.727.127.428.029.131.132.534 340.745.449.454.758.564.875.486.494.9
100.2104.8106.5104.1103.0104.4107.8111.6115.3114.8114.7114.1113.1114.2115.8116.4116.2116.8115.7115.3116.0116.2115.9115.8115.8116.8119.0119.4119.4119.8118.5118.3
House-hold
furnish-ingsand
oper-ation
42"043.645.246.848.649.751 156.863.467.370.474.779.986.393.098.0
100.2101.9103.8105.2107.1109.4111.2113.3116.0114.1115.6115.7115.9116.3115.9116.3116.2116.4116.4116.5116.3116.7117.3117.7118.0117.9118.2118.4118.3118.3118.4118.5
Appareland
upkeep
40.343.943.543.143.142 943.744 544.645 045.746.146.346.947.347 849.051.053.756.859.261.162.364 669.472.575.278.681.484.990.995.397.8
100.2102.1105.0105.9110.6115.4118.6124.1128.7123.81?6.2128.8130.1129.4126.9125.2127.6131.3132.7132.9129.6127.9130.2133.4133.3133.1131.0129.2130.2133.3135.0134.5
Trans-por-ta-
tion2
22 724.125 726.526.125 826 227 728.629 829.830.130 830.931.431932.333.334.335.737.539.539.941245.850.155.159.061.770.583.193.297.099.3
103.7106.4102.3105.4108.7114.1120.5123.8125.5123.7122.3122.2123.3123.7123.4123.8123.8124.0125.0125.3124.5124.1124.4125.2126.3126.9127.2126.9126.8128.0129.2
Medicalcare 2
15 115.916 717.317.818 218 919 720.621522.322.923 524.124 625 226.328.229.931.934.036.137.338 842.447.552.057.061.867.574.982.992.5
100.6106.8113.5122.0130.1138.6149.3162.8177.0171.0172.5173.7174.4175.2176.2177.5178.9179.7180.7181.8182.6184.3186.2187.3188.1188.7189.4190.7191.5192.3193.3194.3
Enter-tainment
40.743.045.247.550.051.552 956.962.065.168.371.976.783.690.196.0
100.1103.8107.9111.6115.3120.3126.5132.4138.4135.5136.2136.7137.7137.8138.1138.6139.2140.2140.5140.4139.9140.1140.7141.2142.0142.0142.0142.4142.6143.2143.5143.7
Othergoods
andservices
35.136.938.740.942.944.746.449.853.957.060.464.368.975.282.691.1
101.1107.9114.5121.4128.5137.0147.7159.0171.6166.5167.4167.9168.8169.1170.0170.8172.2175.8176.2176.9177.6178.6179.4179.8180.3181.3181.5182.3183.9187.0187.9188.0
Ener-gy3
21521.521.922.422.522.622.622.522.923.323.824.224.825.526.527.229.438.142.145.149.452.565.786.097.799.299.9
100.9101.688.288.689.394.3
102.1102.5107.1102.899.799.5
102.1103.5102.7102.9103.6101.8101.8101.9100.199.098.999.5
102.4105.9106.0105.4105.9104.5104.5
1 Includes alcoholic beverages, not shown separately.2 See table B-57 for components.3 Household fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. also included through 1982. See
table B-57 for the components.
Note.—Data beginning 1983 incorporate a rental equivalence measure for homeowners' costs.
Source-. Department of Labor, Bureau of Labor Statistics.
411
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Consumer price indexes for selected expenditure classes, 1950-92
[For all urban consumers; 1982-84 = 100, except as noted]
Year or month
Food and beverages
Total1
Food
Totalhome
Awayfromhome
Shelter
Total
Renters' costs
Total •'Rent,resi-
dential
Home-owners'costs 2
Mainte-nanceand
repairs
Fuel and other utilities
Total
Fuels
Total
Fuel oiland
otherhouse-
holdfuel
com-modities
Gas(piped)
andejec-
tricity(energy
serv-ices)
Otherutilities
andpublic
services
195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985.1986.1987.19881989199019911991: Jan
FebMar
25.428.228.728.328.227.828.028.930.229.730.030.430.631.131.532.233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697.499.4
103.2105.6109.0113.5118.2125.1132.4136.3135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7137.2137.5138.1138.1137.4137.4137.2138.0138.5138.3138.3
27.330.330.830.330.129.529.630.632.031.231.531.832.032.432.733.535.235.136.338.039.940.942.749.757.161.863.166.873.881.888.494.898.199.1
102.8104.3107.3111.9116.6124.2132.3135.8136.4135.7136.0137.0136.9137.4136.0134.9134.9134.4135.0135.5136.4136.6137.5137.4136.2136.1135.7136.9137.4137.2137.0
29.730.932.233.935.135.636.337.037.638.238.739.239.740.140.540.941.542.243.344.746.548.750.452.555.258.061.164.869.374.380.987.994.6
100.1105.3111.8118.3123.1127.8132.8138.4143.3141.2141.5142.0142.5142.8143.0143.7143.7144.6144.6145.0145.2145.4145.6146.4146.2146.3146.6147.0147.0147.2148.0148.6
11.311.812.112.612.6
19.219.319.519.920.2
ftWayJuneJulyAugSeptOctNovDec
1992: JanFebMar
ft:June.JulyAugSeptOctNov
35.036.238.140.141.443.148.855.560.262.165.872.279.986.793.597.399.5
103.2105.6109.1113.5118.2124.9132.1136.8135.9136.0136.3137.2137.3137.7137.1136.6136.7136.5136.9137.3137.9138.1138.8138.8138.3138.3138.1138.8139.3139.2139.1
21.521.922.122.623.424.124.825.426.026.727.327.828.429.731.332.934.937.539.441.044.249.854.558.262.668.375.983.490.995.8
100.0104.2108.3112.5117.0121.8127.4133.4137.9135.8136.2136.5137.1137.5137.9138.4138.7138.9139.1139.3139.6139.7139.9140.1140.2140.4140.7140.8141.0141.2141.3141.5
22.022.522.723.124.024.524.725.225.425.826.126.527.027.828.830.132.635.537.038.740.544.448.851.554.960.568.981.090.596.999.1
104.0109.8115.8121.3127.1132.8140.0146.3144.0144.6145.2145.2145.2145.8146.8147.3147.4147.7147.9148.2149.2149.8150.4150.2150.2151.1151.8152.3151.9152.5152.4
20.520.921.422.323.223.6
103.0108.6115.4121.9128.1133.6138.9146.7155.6153.2154.4156.1155.1154.2155.1157.4158.1156.2156.1155.4155.8158.8160.2161.2160.1159.5161.0162.8163.5161.7161.7160.6
102.5107.3113.1119.4124.8131.1137.3144.6150.2147.9148.2148.4148.8149.2149.7150.2150.7151.6152.1152.6153.0153.2153.5154.1154.2154.4155.0155.5155.8156.0156.8157.2
24.024.424.825.025.325.826.327.528.930.633.235.838.640.643.649.554.157.662.067.274.082.490.796.499.9
103.7106.5107.9111.8114.7118.0122.2126.3124.1125.1124.2126.1126.9126.2126.9127.2126.8126.6127.6128.1128.0128.3128.4128.0128.1128.5128.8128.1128.5129.4129.5
22.522.623.023.624.324.825.426.026.326.326.626.626.626.727.127.428.029.131.132.534.340.745.449.454.758.564.875.486.494.9
100.2104.8106.5104.1103.0104.4107.8111.6115.3114.8114.7114.1113.1114.2115.8116.4116.2116.8115.7115.3116.0116.2115.9115.8115.8116.8119.0119.4119.4119.8118.5118.3
12.713.314.013.7
21.421.722.123.124.725.727.534.439.443.349.053.061.374.887.295.6
100.5104.0104.599.297.398.0
100.9104.5106.7107.7107.1105.7104.0105.4107.6108.2107.7108.5106.5105.5106.5106.6105.9105.2105.1106.5110.2110.4110.3111.1108.7108.2
13.913.814.114.214.414.414.615.015.516.016.317.018.218.321.133.236.438.843.946.262.486.1
104.6103.497.299.495.977.677.978.181.799.394.6
111.2105.799.394.490.989.387.887.888.990.994.894.792.091.590.589.989.890.190.089.789.791.492.1
20.720.921.121.922.423.323.523.523.523.523.523.623.723.924.325.427.128.529.934.540.144.750.555.061.071.481.993.2
101.5105.4107.1105.7103.8104.6107.5109.3112.6111.5111.5110.8109.4111.5114.4115.4114.7115.5112.9111.2112.4112.8112.0111.5111.3113.0117.4117.6117.5118.5115.4114.8
46.647.148.450.053.456.257.860.763.967.770.873.774.377.084.393.399.5
107.2112.1117.9120.1122.9127.1131.7137.9135.0135.7136.3136.5137.3137.9138.5138.9139.2139.6140.1140.2140.5141.2141.7142.2142.4142.2143.1143.3143.0143.4143.7
1 Includes alcoholic beverages, not shown separately.2 December 1982=100.
See next page for continuation of table.
412
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Consumer price indexes for selected expenditure classes, 1950-92—Continued
[For all urban consumers; 1982-84 = 100, except as noted]
Year or month
1950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991 Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992 JanFebMarAprMayJuneJulyAugSeptOctNov
Transportation
Total
22.724.125.726 526.125.826.227.728.629.829.830.130.830.931.431.932.333.334.335.737.539.539.941.245.850.155.159.061.770.583.193.297.099.3
103.7106.4102.3105.4108.7114.1120.5123.8125.5123.7122.3122.2123.3123.7123.4123.8123.8124.0125.0125.3124.5124.1124.4125.2126.3126.9127.2126.9126.8128.0129.2
Total3
24.525.627.327 827.126.727.128.629.530.830.630.831.431.632.032.532.933.834.836.037.539.439.741.046.250.655.659.762.571.784.293.897.199.3
103.6106.2101.2104.2107.6112.9118.8121.9123.2121.2119.9120.2121.5121.9121.7122.0122.1122.4123.4123.4122.5122.0122.2122.9124.3125.4125.5125.4125.4126.1127.0
Private transportatior
Newcars
41.143.146.847 246.544.846.148.550.052.251.551.551.351.050.949.748.849.350.751.553.055.254.754.857.962.966.970.475.881.888.493.797.499.9
102.8106.1110.6114.6116.9119.2121.0125.3124.6125.3125.4125.3125.4125.3124.9124.4124.1125.0126.6127.6128.0128.1128.2128.2128.4128.2127.8127.6127.4128.2129.7
Usedcars
26 7"22.721.520.723.224.026.825.026.028.428.730.029.829.029.9(5)
30.931.233.033.135.236.743.850.354.755.860.262.376.988.898.7
112.5113.7108.8113.1118.0120.4117.6118.1116.1115.1114.4115.0117.0118.8120.4120.0119.8120.2120.6120.1117.8116.1115.7117.9120.5123.1124.8126.4127.7129.1129.9
Motorfuel4
19.019.520.021221.822.122.823.823.423.724.424.124.324.224.125.125.626.426.827.627.928.128.431.242.245.147.049.751.870.197.4
108.5102.899.497.998.777.180.280.988.5
101.299.4
108.399.794.696.1
100.2100.598.299.399.898.399.498.494.592.993.495.099.4
102.9102.8101.7101.7101.6102.2
l
Auto-mobilemainte-nanceand
repair
18.920.420.822 022.723.224.225.025.426.026.527.127.527.828.228.729.230.432.134.136.639.341.143.247.653.757.661.967.073.781.589.296.0
100.3103.8106.8110.3114.8119.7124.9130.1136.0133.1133.5134.1134.4134.7135.6136.4136.9137.8138.4138.5138.4139.0139.7140.3140.5140.8141.2141.4141.6142.2142.5142.8
Other
37.9'39.241.645.248.648.948.450.253.561.867.269.975.284.391.497.798.8
103.5109.0115.1120.8127.9135.8142.5149.1147.3147.8147.7147.5147.7148.0149.0149.7149.7150.9151.8152.0152.4152.2152.2152.4152.5152.6153.0153.1152.7154.4155.3
Publictranspor-
tation
13.414.815.816 818.018.519.219.920.921.522.223.224.024.324.725.226.127.428.730.935.237.839.339.740.643.547.850.051.554.969.085.694.999.5
105.7110.5117.0121.1123.3129.5142.6148.9155.4156.2153.3147.1146.0146.6146.7147.6146.6144.9147.0149.8151.5150.7153.5154.7151.6145.3148.3146.7145.6152.9157.4
f
Total
15.115.916.717 317.818.218.919.720.621.522.322.923.524.124.625.226.328.229.931.934.036.137.338.842.447.552.057.061.867.574.982.992.5
100.6106.8113.5122.0130.1138.6149.3162.8177.0171.0172.5173.7174.4175.2176.2177.5178.9179.7180.7181.8182.6184.3186.2187.3188.1188.7189.4190.7191.5192.3193.3194.3
Medical care
Medicalcarecom-
modities
39.740.841.241542.042.543.444.646.146.846.946.345.645.245.145.045.144.945.045.446.547.347.447.549.253.356.560.264.469.075.483.792.3
100.2107.5115.2122.8131.0139.9150.8163.4176.8170.4171.6173.2174.3175.4176.5177.7178.9180.0180.3181.1181.7183.0185.1186.7187.9187.6188.0188.6188.9189.5189.8190.4
Medicalcare
services
12.813.414.314 815.315.716.317.017.918.719.520.220.921.522.022.723.926.027.930.232.334.735.937.541.446.651.356.461.267.274.882.892.6
100.7106.7113.2121.9130.0138.3148.9162.7177.1171.1172.8173.8174.5175.1176.1177.5178.9179.7180.8181.9182.8184.6186.4187.4188.1188.9189.7191.1192.2192.9194.2195.2
3 Includes other new vehicles, not shown separately. Includes direct pricing of new trucks and motorcycles beginning September1982.
4 Includes direct pricing of diesel fuel and gasohol beginning September 1981.5 Not available.Note.—See Note, Table B-56.Source: Department of Labor, Bureau of Labor Statistics.
413
334-230 0—92 14 (QL3)Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-58.—Consumer price indexes for commodities, services, and special groups, 1950-92
[For all urban consumers; 1982-84=100, except as noted]
Year or monthAll items(CPI-U)
Commodities
Allcom-
moditiesFood
Com-modities
lessfood
Services
Allservices
Medi-cal
careserv-ices
Serv-icesless
medi-cal
careserv-ices
Special indexes
Allitemslessfood
Allitemsless
energy
Allitemslessfoodand
ener-gy
Allitemsless
medi-cal
care
CPI-U-X1(all items)(Dec. 1982=97 .6 )»
mj'ZZJuneJulyAugSeptOctNov
i1950 i1951 i1952...19531S54IS55195619571S5S ,1959196019611962....,1963 !1964196519661967196S196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991:Jan
FebMarAprMayJune
JulyAugSept....OctNovDec
1992: JanFebMar
24.126.0 |26.5!26.7 I25.9 :26,3;27.2!28.1!28.9 •29.1 i29.6!29.9!30.2 |30.6 i31.0!31.5 i32.4!33.434.836.7 I38.840.541.844.449.353.856.960.665.272.682.490.996.599.6
103.9107.6109.6113.6118.3124.0130.7136.2134.6134.8135.0135.2135.6136.0136.2136.6137.2137.4137.8137.9138.1138.6139.3139.5139.7140.2140.5140.9141.3141.8142.0
29.031.632.031.931.631.331.632 633.333.333.633.834.134.434.835.236.136.838.139.941.743.244.547.853.558.260.764.268.876.686.093.297.099.8
103.2105.4104.4107.7111.5116.7122.8126.6126.0125.7125.7126.4126.8126.7126.2126.4127.1127.2127.8127.5127.2127.6128.4128.8129.1129.2129.0129.3129.9130.3130.5
25.4 I28.2!28.7 j28.3!23.2 !27.8 i28.0!28.S!30.2!29.7 !3Q.Q!30.4!30.6!31.1!31.5 j32.2|33.8!34.1135.3137.1 |39.240.442.148.255.159.861.665.572.079.986.893.697.499.4
103.2105.6109.0113.5118.2125.1132.4136.3135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7137.2137.5138.1138.1137.4137.4137.2138.0138.5138.3138.3
31.4}33.8 !
34.134.233.833.533.934.935.335.836.036.136.336.636.937.2,37.738.6!40.0 i41.7 |43.4 145.146.147.752.857.660.563.867.575.385.793.196.9
100.0103.1105.2101.7104.3107.7112.0117.4121.3120.6120.3120.1120.7121.3120.9120.5121.1122.1122.4123.0122.4121.6122.1123.0123.5124.4124.5124.3124.3125.1125.7126.1
16.917.8;18.619.4 i20.0 j20.4!20.9!21.8 i22.8i23.3|24.1124.525.0!25.5 j26.0 |26.6|27.628.830.332.435.037.038.440.143.848.052.056.060.867.577.988.196.099.4
104.6109.9115.4120.2125.7131.9139.2146.3143.8144.5144.8144.7145.0145.8146.8147.3147.9148.1148.3148.8149.6150.1150.7150.8150.9151.7152.5153.0153.2153.7154.0
12.813.414.3 j14.8!15.3 i15.7!16.3!17.0! 22.317.91 23.618.71 24.219.5! 25.020.2! 25.420.91 25.921.51 26.322.0 26.822.7 27.423.926.0
35.937.541.446.651.356.461.267.274.882.892.6
100.7106.7113.2121.9130.0138.3148.9162.7177.1171.1172.8173.8174.5175.1176.1177.5178.9179.7180.8181.9182.8184.6186.4187.4188.1188.9189.7191.1192.2192.9194.2195.2
28.329.3
27.9! 30.830.2 j 32.9
32.3 j 35.634.7 37.5
38.940.644.348.352.255.960.767.578.288.796.499.2
104.4109.6114.6119.1124.3130.1136.8143.3141.1141.7142.0141.8142.1142.9143.8144.3144.8145.0145.1145.5146.3146.6147.1147.2147.3148.1148.8149.2149.4149.9150.1
23.8 ....25.3 ....25.925.4;..26.5 !..26.6 !..27.1 !..28.0 i28.6 i29.2 i29.7 I30.0!30.3130.7!31.131.632.333.434.936.839.040.842.043.748.052.556.059.663.971.281.590.496.399.7
104.0108.0109.8113.6118.3123.7130.3136.1134.3134.6134.8134.9135.4135.7136.1136.7137.4137.7138.0138.1138.3138.8139.5139.7140.1140.7141.1141.4141.8142.4142.7
29.7!29.9!30.4 |30.7 131.1131.5132.0!32.5 133.5!
29.6!30.2 I30.6!31.031.431.832.332.733.5
34.4 3 4 735.938.040.342.043.446.150.655.158.261.966.773.481.990.196.199.6
104.3108.4112.6117.2122.3128.1134.7140.9138.6139.3139.8140.2140.3140.5140.9141.3141.9142.3142.7142.8143.3144.0144.7144.9144.9145.0145.3145.8146.2146.9147.1
36.3 j38.440.842.744.045.649.453.957.461.065.571.980.889.295.899.6
104.6109.1113.5118.2123.4129.0135.5142.1139.4140.3140.9141.1141.3141.5142.0142.7143.4143.9144.4144.4144.9145.6146.4146.6146.7146.9147.3147.7148.1149.0149.3
28.7!29.5!29.8!
30.2 !30.5!30.8!31.1 i31.5132.0 I33.0133.735.1137.0'39.240.842.144.849.854.357.260.865.472.982.891.496.899.6
103.7107.2108.8112.6117.0122.4128.8133.8132.4132.6132.7133.0133.3133.6133.8134.2134.8134.9135.2135.3135.5135.9136.5136.7136.9137.4137.6138.0138.4138.8139.0
26.228.328.8OQ Q
29^229.129.530.531.431.632.232.532.833.333.734.235.236.337.739.441.343.144.447.251.956.259.463.267.574.082.390.195.699.6
103.9107.6109.6113.6118.3124.0130.7136.2
1CPI-U-X1 is a rental equivalence approach to homeowners' costs for the consumer price index for years prior to 1983, the firstyear for which the official index (CPI-U) incorporates such a measure. CPI-U-XI is rebased to the December 1982 value of the CPI-U(1982-84=100) ; thus it is identical with CPI-U data for December 1982 and all subsequent periods. Data prior to 1967 estimated byCouncil of Economic Advisers by moving the series at the same rate as the CPI-U for each year.
Note.—See Note, Table B-56.
Source: Department of Labor, Bureau of Labor Statistics (except as noted).
414
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Changes in special consumer price indexes, 1958-92
[For all urban consumers; percent change]
Year or month
19581959196019611962196319641965196619671968196919701971197219731974.....197519761977 . ..1978197919801981. .1982198319841985198619871988198919901991
1991:JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMarAprMayJuneJulyAugSeptOctNov
All items(CPI-U)
Dec.to
Dec.1
1.81.71.4.7
1.31.61.01.93.53.04.76.25.63.33.48.7
12.36.94.96.79.0
13.312.58.93.83.83.93.81.14.44.44.66.13.1
Yearto
year
2.8.7
1.71.01.01.31.31.62.93.14.25.55.74.43.26.2
11.09.15.86.57.6
11.313.510.36.23.24.33.61.93.64.14.85.44.2
All items lessfood
Dec.to
Dec.1
1.82.11.01.31.01.61.01.63.53.35.05.66.63.02.95.6
12.27.36.16.48.3
14.013.09.84.14.13.94.1
.54.64.24.56.33.3
Yearto
year
2.12.11.71.01.01.31.31.62.23.44.55.46.04.62.94.09.89.46.76.47.2
11.414.510.96.53.54.33.81.73.54.14.65.34.5
All items lessenergy
Dec.to
Dec.1
2.11.31.3.7
1.31.91.31.93.43.24.96.55.43.43.58.2
11.76.64.86.79.1
11.111.78.54.24.54.44.03.84.14.74.65.23.9
Yearto
year
2.8.7
1.71.01.31.31.61.63.12.74.45.86.14.23.36.29.88.95.66.47.8
10.011.610.06.73.64.73.93.94.14.44.75.24.6
All items less foodand energy
Dec.to
Dec1
1.72.01.01.31.31.61.21.53.33.85.16.26.63.13.04.7
11.16.76.16.58.5
11.312.29.54.54.84.74.33.84.24.74.45.24.4
Yearto
year
2.42.01.31.31.31.31.61.22.43.64.65.86.34.73.03.68.39.16.56.37.49.8
12.410.47.44.05.04.34.04.14.44.55.04.9
All items lessmedical care
Dec.to
Dec.1
1.71.41.3
U1.61.01.93.42.74.76.15.23.23.49.1
12.26.74.56.79.1
13.412.58.83.63.63.93.5
.74.34.24.55.92.7
Yearto
year
2.81.01.31.01.01.01.31.63.12.14.25.45.94.13.26.4
11.2
9.05.36.37.6
11.513.610.45.92.94.13.41.53.53.94.65.23.9
Change from preceding period
Unad-justed
0.6.1.1.1.3.3.1.3.4.1.3.1.1.4.5.1.1.4.2.3.3.4.1
Sea-sonally
ad-justed
0.4.1.1.2.2.3.1.3.4.2.4.2.1.3.5.2.1.3.1.3.2.4.2
Unad-justed
0.4.2.1.1.4.2.3.4.5.2.2.1.1.4.5.1.3.4.3.2.3.4.2
Sea-sonally
ad-justed
0.4.2.1.2.2.2.2.4.4.2.4.2.1.3.5.3.2.4.2.1.2.4.4
Unad-justed
0.9.5.4.3.1.1.3.3.4.3.3.1.4.5.5.1
0.1.2.3.3.5.1
Sea-sonally
ad-justed
0.6.6.3.3.2.3.2.3.4.2.3.2.2.4.5.2.1.2.1.3.2.4.2
Unad-justed
0.8.6.4.1.1.1.4.5.5.3.3
0.3.5.5.1.1.1.3.3.3.6.2
Sea-sonally
ad-justed
0.7.6.3.3.2.3.3.4.4.2.3.2.3.4.5.3.2.2.2.2.2.5.3
Unad-justed
0.5.2.1.2.2.2.1.3.4.1.2.1.1.3.4.1.1.4.1.3.3.3.1
Sea-sonally
ad-justed
0.4.2
0.2.2.2.1.2.4.1.3.2
0.3.4.2.1.4.1.2.2.4.2
1 Changes from December to December are based on unadjusted indexes.Note.—See Note, Table B-56.Source-. Department of Labor, Bureau of Labor Statistics.
415
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Changes in consumer price indexes for commodities and services, 1929-91
[For all urban consumers,- percent change]
Year
All items(CPI-U)
Dec.to
Dec1
Yearto
year
Commodities
Total
Dec.to
Dec.1
Yearto
year
Food
Dec.to
Dec.1
Yearto
year
Services
Total
Dec.to
Dec.1
Yearto
year
Medical careservices
Dec.to
Dec 1
Yearto
year
Medical care
Dec.to
Dec.1
Yearto
year
Energy2
Dec.to
Dec1
Yearto
year
1929..
1933..
1939..
1940..1941..1942..1943..1944..
1945..1946..1947..1948..1949..
1950..1951..1952..1953..1954..
1955..1956..1957..1958..1959..
I960..1961..1962..1963..1964..
1965..1966..1967..1968..1969..
1970..1971..1972..1973..1974..
1975..1976..1977..1978..1979..
1980..1981..1982..1983..1984..
1985..1986..1987..1988..1989..
1990..1991..
0.6
.79.99.03.02.3
2.218.18.83.0
- 2 . 1
5.96.0
.8
.7- . 7
.43.02.91.81.7
1.4.7
1.31.61.0
1.93.53.04.76.2
5.63.33.48.7
12.3
6.94.96.79.0
13.3
12.58.93.83.83.9
3.81.14.44.44.6
6.13.1
0
- 5 . 1
- 1 . 4
.75.0
10.96.11.7
2.38.3
14.48.1
- 1 . 2
1.37.91.9.8.7
- . 41.53.32.8
.7
1.71.01.01.31.3
1.62.93.14.25.5
5.74.43.26.2
11.0
9.15.86.57.6
11.3
13.510.36.23.24.3
3.61.93.64.14.8
5.44.2
- 0 . 7
1.413.312.94.22.0
2.924.810.3
1.7- 4 . 1
7.85.9
- . 9- . 3
- 1 . 6
- . 32.62.81.2.6
1.20
.91.5.9
1.42.52.54.05.4
3.92.83.4
10.412.8
6.23.36.18.8
13.0
11.06.03.62.92.7
2.5-2 .0
4.63.84.1
6.61.2
- 2 . 0
.76.7
14.59.31.0
3.010.620.5
7.2-2 . 7
.79.01.3
- . 3- . 9
- . 91.03.22.10
.9
.6
.9
.91.2
1.12.61.93.54.7
4.53.63.07.4
11.9
4.35.87.2
11.3
12.38.44.12.93.4
2.1- . 93.23.54.7
5.23.1
2.5
6.9
- 2 . 5
2.515.717.93.00
3.531.311.3- . 8
- 3 . 9
9.87.1
- 1 . 0- 1 . 1- 1 . 8
- . 72.92.82.4
- 1 . 0
3.1- . 71.32.01.3
3.54.01.24.47.0
2.34.34.6
20.312.0
6.6.5
8.111.810.2
10.24.33.12.73.8
2.63.83.55.25.6
5.31.9
1.2
- 2 . 8
- 2 . 5
1.79.2
17.611.0
- 1 . 2
2.414.521.7
8.3- 4 . 2
1.611.0
1.8- 1 . 4
- . 4
- 1 . 4.7
3.24.5
-1 .7
1.01.3
.71.61.3
2.25.0
.93.55.1
5.73.14.2
14.514.3
8.53.06.39.9
11.0
8.67.8
2-13 i |2.33.24.14.15.8
5.82.9
.82.42.32.32.2
.73.65.65.93.7
3.65.24.44.22.0
2.03.44.22.73.9
2.52.11.62.41.6
2.74.84.35.87.7
8.14.13.46.2
11.4
8.27.28.09.3
13.6
14.213.04.34.85.4
5.14.54.34.85.1
5.74.6
3.12.32.2
1.51.44.36.15.1
3.05.34.54.33.1
2.02.54.33.73.1
3.41.72.02.02.0
2.33.84.35.26.9
8.05.73.84.49.2
9.68.37.78.6
11.0
15.4 I13.1 !9.03.55.2
5.15.04.24.64.9
5.55.1
1.2
01.23.55.63.2
3.19.06.46.91.6
4.05.35.83.42.6
3.23.84.84.64.9
3.73.52.92.82.3
3.68.38.07.17.3
8.15.43.76.0
13.2
10.310.89.09.3
10.5
10.112.611.26.25.8
6.87.95.66.98.6
9.98.0
1.2
003.54.54.3
3.15.18.77.13.3
2.44.76.73.53.4
2.63.84.35.34.5
4.33.63.52.92.3
3.25.38.87.38.2
7.074 I3.5 !4.5 |
10.4 j
12.6 |10.19.98.59.8 |
11.3 |10.711.88.7
6.0 I6.1 j7.7 !6.66.47.7
9.38.9
5.81.4
3.45.84.33.52.3
3.33.24.74.53.8
3.23.12.22.52.1
2.86.76.36.26.2
7.44.6 |3.35.3
12.6
9.810.08.98.8
10.1
9.912.511.06.46.1
6.87.75.86.98.5
9.67.9
6.72.8
2.05.35.03.62.9
2.23.84.24.64.4
3.72.72.62.62.1
2.44.47.26.06.7
6.66.23.34.09.3
12.09.59.68.49.2
11.010.711.68.86.2
6.37.56.66.57.7
9.08.7
- 0 . 94.7
1.3- 1 . 3
2.2_ g
o'1.81.71.71.72.9
4.83.12.6
17.021.6
11.4
7.937.5 I
I18.011.9
1.3- . 5
.2
1.819.78.2
18.1- 7 . 4
01.9
2.3.4.4
0- . 4
1.81.72.11.72.5
2.83.92.68.1
29.6
10.57.19.56.3
25.1
30.913.6
1.5.7
1.0
.7-13.2
.5
.85.6
8.3.4
1 Changes from December to December are based on unadjusted indexes.2 Household fuels—gas (piped) electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. also included through 1982.
Note.-See Note, Table B-56.
Source: Department of Labor, Bureau of Labor Statistics.
416
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Producer price indexes by stage of processing, 1947-92
[1982 = 100]
Year or month
Finished goods
Totalfinishedgoods
Consumer foods
Total Crude Proc-essed
Finished goods excluding consumer foods
Total
Consumer goods
Total Durable Non-durable
Capitalequipment
Totalfinishedconsumergoods
1947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991: Jan....
Feb....Mar....Apr....May...June..July....Aug....Sept..Oct....Nov...Dec...
1992: Jan...Feb...Mar...
fcJune.July1
Aug...Sept.Oct...Nov...
26.428.527.728.230.830.630.330.430.531.332.533.233.133.433.433.533.433.534.135.235.636.638.039.340.541.845.652.658.260.864.769.877.688.096.1100.0101.6103.7104.7103.2105.4108.0113.6119.2121.7122.3121.4120.9121.1121.8121.9121.6121.7121.4122.2122.3121.9121.8122.1122.2122.4123.2123.9123.7123.5123.3124.3123.9
31.934.932.132.736.736.434.534.233.433.334.436.534.835.535.435.735.335.436.839.238.540.042.443.844.546.956.564.469.869.673.379.987.392.497.8100.0101.0105.4104.6107.3109.5112.6118.7124.4124.1124.8124.6125.2125.3125.8125.3124.5123.3122.7123.0123.0122.3122.5123.4123.3122.8123.1123.1122.8123.2123.2123.6123.3
39.342.440.136.541.944.641.637.539.139.138.541.037.339.838.038.437.838.939.041.539.642.545.946.045.848.063.671.671.776.779.585.892.393.9
104.4100.0102.4111.4102.9105.6107.1109.8119.6123.0119.3124.3118.8125.0128.2137.8130.3121.8112.1109.9104.8114.6104.5109.7118.7115.8105.298.696.397.3104.7104.5110.0107.3
31.134.031.132.436.235.433.634.032.732.734.136.134.735.235.335.635.235.236.839.238.840.042.343.944.747.255.863.970.369.072.779.486.892.397.2100.0100.9104.9104.8107.4109.6112.7118.6124.4124.4124.7124.9125.1125.1124.9124.8124.7124.1123.6124.3123.6123.6123.4123.7123.8124.0124.8125.1124.7124.6124.6124.6124.4
35.035.936.938.239.640.442.048.854.758.162.266.774.686.795.6100.0101.8103.2104.6101.9104.0106.5111.8117.4120.9121.4120.4119.5119.7120.5120.8120.7121.1121.0121.9122.0121.7121.5121.6121.8122.3123.1124.0123.8123.5123.2124.3124.0
27.429.228.629.031.130.731.031.131.332.132.932.933.333.533.433.433.433.333.634.134.735.536.337.438.739.441.248.253.256.560.664.973.587.196.1100.0101.2102.2103.398.5
100.7103.1108.9115.3118.7119.8118.2117.0117.2118.2118.6118.4119.0119.0119.7119.7119.2118.8118.8119.0119.6120.9122.1122.0121.6121.4122.2121.7
32.935.236.136.538.939.239.539.840.241.642.843.443.943.843.643.443.143.343.243.444.145.145.947.248.950.050.955.561.063.767.473.680.891.096.4100.0102.8104.5106.5108.9111.5113.8117.6120.4123.9123.5123.9124.0123.7123.2123.1123.1122.9122.1126.0125.7125.4125.8125.5125.8125.6125.6125.2125.4125.1123.4127.0127.0
24.225.724.725.127.026.326.626.726.827.327.927.828.228.428.428.428.528.428.829.330.030.631.532.533.534.136.144.048.952.456.860.069.385.195.8100.0100.5101.1101.793.394.997.3
103.8111.5115.0116.7114.4112.8113.2114.6115.2115.0115.8116.1115.6115.8115.2114.4114.6114.8115.7117.5119.5119.2118.7119.3118.8118.0
19.821.622.723.225.525.926.326.727.429.531.332.132.732.832.933.033.133.433.834.635.837.038.340.141.742.844.250.558.262.166.171.377.585.894.6100.0102.8105.2107.5109.7111.7114.3118.8122.9126.7125.9126.1126.2126.2126.5126.5126.6126.5126.2127.9127.9128.0128.6128.7128.9129.1129.0128.9128.8128.8128.0130.1130.0
28.630.829.429.932.732.331.731.731.532.032.933.633.333.633.633.733.533.634.235.435.636.537.939.140.241.546.053.158.260.464.369.477.588.696.6100.0101.3103.3103.8101.4103.6106.2112.1118.2120.5121.4120.3119.6119.8120.6120.7120.4120.4120.2120.8120.9120.3120.0120.3120.4120.7121.7122.6122.4122.2122.1122.8122.3
1 Data have been revised through July 1992 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.
417
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Producer price indexes by stage of processing, 1947-92—Continued
[1982 = 100]
Year or month
19471948194919501951195219531954195519561957. ..19581959196019611962196319641965.. .196619671968196919701971197219731974197519761977 .1978197919801981198219831984198519861987 .19881989199019911991:Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMar
A&ZZJuneJuly iAugSeptOctNov
Intermediate materials, supplies, and components
Total
23.325.224 225.328.427.527 727.928 429.630.330 430.830.830.630.630.730.831232 032.233 034.135 436.838 242.452 558.060.964 969.578.490.398.6
100.0100.6103.1102.799.1
101.5107 1112.0114.5114.4116.4115.5114.2113.9114.0114.3114.0114 2114.6114 2114.0113.7113.2113 5113.6113.8114.5115.4115.5115.3115.6115.4115.1
Foodsand
feeds2
41.841 542.945 646.749 570.383 681.677.479 684.894.5
105.5104.6100.0103.6105.797.396.299.2
109 5113.8113.3111.1110.4110.7111.6111.5110.8110.8110.0111 5111.5111 8111.4111.3110.7110 7110.7110.4111.5112.3111.2110.2111.0109.6109.5
Other
22.224.123.524.627.626.727 027.228 029.330 130130.530.730.330.230.130.330.731331.732 533.634 836.237 740.650 556 660.064 168 677.489.498.2
100.0100.5103.0103.099.3
101.7106 9111.9114.5114.6116.8115.7114.4114.1114.2114.5114.211441 R 8114 3114.1113.8113.3113 6113.7114.0114.7115.6115.7115.6115.9115.7115.4
Materials andcomponents
Formanufac-
turing
24.926.825.726.930.529.329 729.830 532.032.732 833.333.332.932.732.733.133.634 334.535 336.538 038.940 444.156 061764.067 472 080.991.798.7
100.0101.2104.1103.3102.2105 3113 2118.1118.7118.1119.9119.6118.9118.5118.1117.8117.4117 3IV.Z117 4117.3117.3117.2117 4117.5117.6117.9118.2118.3118.2118.3118.1118.0
Forcon-
struction
22.524.924.926.228.728.529 029.130 331.832 032 032.932.732.232.132.232.532.833 634.035 737.738 340.843 046.555 060 164.169 376 584.291.397.9
100.0102.8105.6107.3108.1109 8116 112L3122.9124.5124.0123.9124.0124.3124.5125.2125.3124 71247124 5124.4124.5124.9125 9126.6126.8126.8126.5126.3126.2126.7126.6126.8
Proc-essedfnalclueisand
lubri-cants
14.416.414.915.215.915.715 815.815 816.317 216 216.216.616.816.716.616.216.516 816.916 516.617 719.520 122.233 639 442.347.749 961.685.0
100.6100.095.495.792.872.773 371 276.485.985.391.787.582.881.883.485.084.686 087785 484.783.280.280 680.080.783.688.188.287.688.387.586.0
Pr\ncon-
tainers
23.424.424.525.229.628.028 028.528 931.032 433 233.033.433.233.633.232 933.534 535.035 937.239 040.842 745.253 360 063.165 971079.489.196.7
100.0100.4105.9109.0110.3114 5120 1125^41277128.1129.0128.9128.7128.3128.11277127.9127 4127.4127 8m.\128.0127.6127 71277127.8127.7127.6127.7127.6127.6127.9128.0
Supplies
28.529.828.029.032.632.631031731232.032.333 133.533.333734.535.034 735.036 536.837 137.839 740.842 551756 861865.869 372980.289.996.9
100.0101.8104.1104.4105.6107 7113 7118J119.4121.4120.9121.1121.3121.4121.3121.4121.1121 512L6121 51217121.7122.0122 1122.4122.4122.712271227122.6122.9123.1123.2
Crude
Total
31.734730.132737.634.531931.630 430.631.231 931.130.430.230.529.929.631.133 131.331 833.935 236.039 954.561461663.465 573 485.995.3
103.0100.0101.3103.595.887.793 796 0
103.1108.9101.2112.8104.1101.2100.8102.199.899.599 198^099 999.797.796.998 697.998.8
101.2102.11017100.9102.0101.8101.5
materials for further processing
Food-stuffsand
feed-rtllffcSlUIlo
45.148.840.543.450.247.342 342.338 437.639 241638.838.437.938.637.536.639 242 740.340 944.145 246.151572.676 477.476.877 587 3
100.0104.6103.9100.0101.8104794.893.296.2
106 1111.2113.1105.5107.2107.3109.9109.0108.7107.4105.1102 7103^0102 6101.5101.61037106 0107.2105.5108.4107.4105.01037103.0103.5102.8
Other
Total
21.121622.523 824727 034.344 143748.251 757 569.684.6
101.8100.0100.7102.296.981.687.985 593.4
101.594.6
110.897.992.392.294.291.592.393 091.194 294.591.588.890188.290.792.894.895795.297.596.796.8
Fuel
7.58.98.88.89.09.0938.9899.5
10.110 210.410.510.510.410.510.510.610 911.311512.013 815716 818.624 830.634.542 048.257.369.484.8
100.0105.1105.1102.792.284.182 185.384.882.988.585.684.881.784.082.581.481 877.878 682.285.783.582 679.178.579.878.583.783.586.885.693.0
Other
24.026724.327.832.027.826 626.127 528.628 227 128.126.927.227.126.727.227.728 326.527 128.429 129.432 342.954 550.054.956 361.975.591.8
109.8100.098.8
101.094.376.088.585 995.8
107.397.5
120.4101.092.294.295.992.494.895 695.499 997^890.187.289 788.893.095.399.197.697.098.698.193.9
2 Intermediate materials for food manufacturing and feeds.Source: Department of Labor, Bureau of Labor Statistics.
418
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Producer price indexes by stage of processing, special groups, 1974-92
[1982 = 100]
Year or month
Finishedgoods
Total Foods Ener-gy
Excluding foods andenergy
Total
Cap-ital
equip-ment
Con-sumergoodsexclud-
foodsand
energy
Intermediate materials, supplies,and components
TotalFoodsand
feeds1
Ener-gy
Other
Crude materials for furtherprocessing
Total
Food-stuffs
andfeed-stuffs
Ener-gy
Other
1974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1991:JanFeb....Mar...AprMay...June..
July....Aug...Sept..Oct....Nov....Dec...
1992: Jan....Feb....Mar...
fcJune..July2.Aug...Sept..Oct....Nov....
52.6
58.260.864.769.877.6
88.096.1
100.0101.6103.7
104.7103.2105.4108.0113.6
119.2121.7
122.3121.4120.9121.1121.8121.9
121.6121.7121.4122.2122.3121.9
121.8122.1122.2122.4123.2123.9
123.7123.5123.3124.3123.9
64.4
69.869.673.379.987.3
92.497.8
100.0101.0105.4
104.6107.3109.5112.6118.7
124.4124.2
124.8124.6125.2125.3125.8125.3
124.5123.3122.7123.0123.0122.3
122.5123.4123.3122.8123.1123.1
122.8123.2123.2123.6123.3
26.2
30.734.339.742.357.1
85.2101.5100.095.291.2
87.663.061.859.865.7
75.078.1
82.678.475.575.778.078.4
77.578.879.178.378.176.6
74.374.374.475.477.881.0
80.480.380.980.078.5
53.6
59.763.166.971.978.3
87.194.6
100.0103.0105.5
108.1110.6113.3117.0122.1
126.6131.1
129.9130.2130.3130.5130.5130.8
131.0131.0130.7132.4132.5132.8
133.4133.5133.7134.0134.2134.1
134.2133.8133.2135.0135.1
50.5
58.262.166.171.377.5
85.894.6
100.0102.8105.2
107.5109.7111.7114.3118.8
122.9126.7
125.9126.1126.2126.2126.5126.5
126.6126.5126.2127.9127.9128.0
128.6128.7128.9129.1129.0128.9
128.8128.8128.0130.1130.0
55.5
60.663.767.372.278.8
87.894.6
100.0103.1105.7
108.4111.1114.2118.5124.0
128.8133.7
132.3132.7132.8133.1132.9133.3
133.7133.7133.4135.1135.3135.7
136.4136.6137.0137.5137.3
137.5136.9136.3138.1138.2
52.5
58.060.964.969.578.4
90.398.6
100.0100.6103.1
102.799.1
101.5107.1112.0
114.5114.4
116.4115.5114.2113.9114.0114.3
114.0114.2114.6114.2114.0113.7
113.2113.5113.6113.8114.5115.4
115.5115.3115.6115.4115.1
83.6
81.677.479.684.894.5
105.5104.6100.0103.6105.7
97.396.299.2
109.5113.8
113.3111.1
110.4110.7111.6111.5110.8110.8
110.0111.5111.5111.8111.4111.3
110.7110.7110.7110.4111.5112.3
111.2110.2111.0109.6109.5
33.1
38.741.546.849.161.1
84.9100.5100.095.395.5
92.672.673.070.976.1
85.585.1
91.587.482.781.783.284.8
84.485.787.485.184.482.8
80.180.479.980.683.487.8
88.087.388.187.385.9
54.0
60.263.867.672.580.7
90.397.7
100.0101.6104.7
105.2104.9107.8115.2120.2
120.9121.4
122.4122.2121.8121.6121.4121.4
121.1120.9121.0121.0121.0121.0
121.1121.4121.6121.8121.9122.0
122.1122.1122.3122.3122.2
61.4
61.663.465.573.485.9
95.3103.0100.0101.3103.5
95.887.793.796.0
103.1
108.9101.2
112.8104.1101.2100.8102.199.8
99.599.198.099.999.797.7
96.998.697.998.8
101.2102.1
101.7100.9102.0101.8101.5
76.4
77.476.877.587.3
100.0
104.6103.9100.0101.8104.7
94.893.296.2
106.1111.2
113.1105.5
107.2107.3109.9109.0108.7107.4
105.1102.7103.0102.6101.5101.6
103.7106.0107.2105.5108.4107.4
105.0103.7103.0103.5102.8
27.8
33.335.340.445.254.9
73.197.7
100.098.798.0
93.371.875.067.775.9
85.980.4
97.683.177.076.779.277.1
78.379.077.080.681.278.0
75.572.275.077.480.1
81.080.383.282.883.3
83.3
69.380.279.887.8
106.2
113.1111.7100.0105.3111.7
104.9103.1115.7133.0137.9
136.3128.2
133.5133.4132.2132.7131.4126.8
125.9126.0125.6124.8123.4122.7
125.2128.1129.1129.7129.2
130.0130.5130.5128.4126.8
1 Intermediate materials for food manufacturing and feeds.2 Data have been revised through July 1992 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.
Source: Department of Labor, Bureau of Labor Statistics.
419Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Producer price indexes for major commodity groups, 1950-92
[1982 = 100]
Year or month
Farm products and processedfoods and feeds
TotalFarm
products
Processedfoods and
feeds
Industrial commodities
Total
Textileproducts
andapparel
Hides,skins,leather,and
relatedproducts
Fuels andrelatedproducts
andpower *
Chemicalsand alliedproducts1
1950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991: Jan....
Feb...Mar...Apr...May..June..July....Aug....Sept...Oct...Nov...,Dec...
1992: Jan...,Feb....Mar...May"June.July2
Aug....Sept..Oct...Nov.
37.743.041.338.638.536.636.437.739.437.637.737.738.137.737.539.041.640.241.143.444.945.849.263.971.374.073.675.983.092.398.3
101.1100.0102.0105.5100.7101.2103.7110.0115.4118.6116.4117.0117.1118.3118.1118.3117.6116.3115.2115.1115.1114.8114.5115.2116.3116.7115.8117.0116.9115.8115.3115.3115.2114.9
44.051.248.443.843.240.540.041.142.940.240.139.740.439.639.040.743.741.342.345.045.846.651.672.777.477.078.879.487.799.6
102.9105.2100.0102.4105.595.192.995.5
104.9110.9112.2105.7106.9106.9109.7109.6110.4109.1105.6102.9103.1101.5101.6100.6102.8105.5106.4103.2105.8104.7102.5102.1101.6102.6102.0
33.236.936.434.835.433.833.834.836.535.635.636.236.536.836.738.040.239.840.642.744.645.548.058.968.072.670.874.080.688.595.998.9
100.0101.8105.4103.5105.4107.9112.7117.8121.9121.9122.1122.3122.6122.5122.3121.9121.6121.4121.1121.9121.4121.4121.3121.7121.8122.0122.5123.0122.4121.9122.1121.5121.4
25.027.626.927.227.227.829.129.930.030.530.530.430.430.330.530.931.532.032.833.935.236.537.840.349.254.958.462.567.075.788.097.4100.0101.1103.3103.7100.0102.6106.3111.6115.8116.5119.3117.2115.7115.6116.1116.1116.0116.3116.3116.7116.7116.1115.7116.0115.9116.4117.3118.2118.3118.1118.3118.6118.3
50.256.050.549.348.248.248.248.347.448.148.647.848.248.248.548.848.948.950.751.852.453.355.560.568.067.472.475.378.182.589.797.6100.0100.3102.7102.9103.2105.1109.2112.3115.0116.3115.7115.8115.9116.0116.0116.2116.3116.5116.6116.7116.8116.9117.4117.6117.7117.8117.7117.9117.8118.1118.0118.2117.9
32.937.730.531.029.529.431.231.231.635.934.634.935.334.334.435.939.438.139.341.542.043.450.054.555.256.563.968.376.196.194.799.3100.0103.2109.0108.9113.0120.4131.4136.3141.7138.9140.2140.0140.4141.1140.4140.0138.3138.1136.6136.3137.1137.6138.6139.0139.8139.9140.7140.8140.1140.7140.8140.8140.5
12.613.013.013.413.213.213.614.313.713.713.914.014.013.913.513.814.114.414.314.615.316.617.119.430.135.438.343.646.558.982.8
100.2100.095.994.891.469.870.266.772.982.381.290.183.078.578.180.280.380.181.381.481.381.279.176.376.875.877.179.783.283.382.884.083.382.3
30.434.833.033.433.833.733.934.634.934.834.834.533.933.533.633.934.034.234.134.235.035.635.637.650.262.064.065.968.076.089.098.4
100.0100.3102.9103.7102.6106.4116.3123.0123.6125.6128.3128.1126.0126.0125.3125.0124.4124.5124.5124.9124.9125.0124.6124.5124.4124.8125.2126.0126.4126.9126.5127.0127.5
1 Prices for some items in this grouping are lagged and refer to 1 month earlier than the index month.2 Data have been revised through July 1992 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.
See next page for continuation of table.
420
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Producer price indexes for major commodity groups, 1950-92—Continued
[1982 = 100]
Year or month
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982..1983198419851986198719881989
199019911991:Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMarAprMayJune
July2
AugSeptOctNov
Industrial commodities—Continued
Rubberand
plasticproducts
35.643.739.636 937.542.443.042.842.842.6
42.741 139.940.139 639.740.541.442.843.6
44.945.245.346.656.462.266.069.472.480.5
90.196.4
100.0100.8102.3101.9101.9103.0109.3112.6
113.6115.1
116.0116.0115.8115.5115.2115.0
114.8114.7114.6114.7114.6114.7
114.7114.3114.3114.6114.9115.0
115.2115.3115.8115.6115.7
Lumberand
woodproducts
31434.133.233132.534.134.632.832.534.7
33.532 032.232.833 533.735 235.139.844.0
39.944.750.762.264.562.172.283.096.9
105.5
101.5102.8100.0107.9108.0106.6107 2112.8118.9126.7
129.7132.1
127.6127.2127.8129.2132.3136.2
136.9133.3133.4133.2133.4134.6
137.6142.9145.7147.5147.6146.3
145.3144.9148.4148.5149.2
Pulp,paper,
andallied
products
«- 25.730.529.729 629.630.432.433.033.433.7
34.033 033.433.133.033.334.234.635.036.0
37.538.139.342.352.559.062.164.667.775.9
86.394.8
100.0103.3110.3113.3116 1121.8130.4137.8
141.2142.9
143.6143.8143.7143.2143.0142.7
142.3142.2142.3142.6142.8142.7
144.1144.2144.4144.9145.2145.1
145.2145.3145.8146.0145.8
Metalsand
metalproducts
22.024.524.525 325.527.229.630.230.030.6
30.630.530.230.331.132.032.833.234.036.0
38.739.440.944.057.061.565.069.375.386.0
95.099.6
100.0101.8104.8104.4103 2107.1118.7124.1
122.9120.2122.4121.9121.5121.3120.5119.7
119.6119.5119.5119.3118.9118.7
118.2118.9119.4119.6119.5119.6
120.0120.2119.6118.9118.2
Machinery
andequipment
22.625.325.325 926.327.229.331.432.132.8
33.033 033.033.133.333.734.735.937.038.2
40.041.442.343 750.057.961365.270.376.7
86.094.4
100.0102 7105.1107.2108 8110.4113.2117.4
120.7123.0
122.6122.9123.0123.1123.1123.1
123.0123.0123.0123 0123.1123.2
123.3123.5123.6123.4123.4123.2
123.1123.1123.2123.3123.2
Furnitureand
householddurables
40.944.443.544.444.945.146.347.547.948.0
47.847.547.246.947.146.847.448 349.750.7
51.953.153.855.761.867.570.373.277.582.8
90.795.9
100.0103.4105.7107.1108 2109.9113.1116.9
119.2121.2
120.6120.9121.0121.2121.2121.2
121.2121.2121.2121.4121.4121.5
121.8121.8121.9122.0122.1122.2
122.212?.1122.2122.2122.5
Non-metallicmineral
products
23.525 025.026.026.627 328.529.629.930.3
30.430.530.530.330.430.430.731232.433.6
35.338.239.440.747.854.458.262.669.677.6
88.496.7
100.0101.6105.4108.6110.0110.0111.2112.6
114.7117.2116.9117.2117.4117.3117.3117.3117.2117.1117.2117.4117.2117.1
117.2117.1117.3116.9116.9117.0
117.1117 3117.4117.5117.7
Transportationequipment
Total
40.4
41.944.245 546.150.356.760.564.669.575.3
82.994.3
100.0102.8105.2107.9110 5112.5114.3117.7
121.5126.4125.2125.7125.7125.5125.6125.6125.7126.0125.2129.1128.9129.0
129.8129.7130.0130.2130.2130.1
130.2129 6128.1132.0131.9
Motorvehicles
andequip-ment
30.031633.433.333.434 336.337.939.039.9
39.339 239.238.939139.239.239.840.941.7
43.345.747.047.451.457.661.265.270.075.8
83.194.6
100.0102.2104.1106.41091111.7113.1116.2
118.2122.1121.9122.4122.2121.5120.7120.6120.5120.6119.2125.8125.4124.9
124.8124.6124.9124.8124.7124.3
124.4123.9121.1126.9126.9
Miscella-
neousproducts
28.630 330.231.031.331331.732.633.333.4
33.633 733.934.234 434.735.336 237.038.1
39.840.841.543.348.153.455.659.466.775.5
93.696.1
100.0104.8107.0109.41116114.9120.2126.5
134.2140.9139.1138.9139.4140.0140.1140.9141.8141.7141.5141.4141.8143.4
143.9143.9144.0144.8146.4146.2
146.3143.7145.3145.3145.8
Source: Department of Labor, Bureau of Labor Statistics.
421Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-64.—Changes in producer price indexes for finished goods, 1955-92
[Percent change]
Year or month
19551955195719581959
19601961196219631964196519661967.....196819691970197119721973197419751976197719781979198019811982.198319841985198619871988198919901991
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMar
May.;;;;;;;June.July 2
AugSeptOctNov
Totalfinishedgoods
Dec. toDec.1
1.04.2
- . 318
- . 63
— 3'.6
3.3201.73.14.9213.339
11.718 36.6386.793
12.8
11.87.136.6
1.71.8
- 2 . 322a4.95.7
- .1
Yearto year
0.32.63.82.2
- .39
0
_ 3.'3
1.82 9Li2.83.8343.1329.1
15 410.6456A79
11.213.49.2411.62.11.0
- 1 . 42 12.55.24.92.1
Finishedconsumer
foods
Dec. toDec 1
- 3 . 03.75.1.6
5 3- 1 . 9
6
\s9 Ii ^
- .34.68.1
- ? 35.879
22.712 85.6
- 2 . 56.9
1177.47.51.5202.33.5.6
2.8_ 25.75.22.6
- 1 . 5
Yearto year
- 2 . 3- .3
- .
_
-
.3
7
.0
"h.1.3
g,;93.0
3.6
5420.514 08.4
_ 35.3909.35.85.822L04.4
- .82.62 12.85.44.8
-.2
Finished goods excluding consumer foods
Total
Dec. toDec1
233.3432.0236.6
2117.2626.883
14.813.48.74201.12.2
- 4 . 0323.24.86.9
3
Yearto year
'""YB2.83 53.7204.0
16 212.16?7.17 ?
1L816.210.3461.81.41.4
- 2 . 62 12^5.05.03.0
Consumergoods
Dec. toDec.1
1.62.51.5.3.9•3
_ 3
cT•5
.91.82.02.02.8382.12 17.5
20 36.8606.785
17.614.18.642
- .9g
2 1- 6 . 6
4 13.15.38.7
-.7
Yearto year
0.52.62.501.2
— .3Q0
-.3.9
1.51.82.32.3303.5184.6
17 010.4627.37 1
13.318.510.34.11.21.01.1
- 4 . 6222^5.65.92.9
Capitalequipment
Dec. toDec 1
5.58.14.61 9
;§3
0
'.6g
1.53.83.13.04.8482.4? 15.1
22 78.1657.2808.8
11.49.2392.01.82.72.11 33.63.83.42.5
Yearto year
26 '7716126IS
c
33
9
24? 53435* ~i
4 02633
14 315 26764798.7
10.710.3572.82.32.22.01 82.33.93.53.1
Finishedenergygoods
Dec. toDec.1
1 16 3116
1 12 085
1 58.127.914.1_ l
- 9 . 2- 4 . 2- .2
- 3 8 . 1112
- 3 . 69.5
30.7- 9 . 6
Yearto year
17 211715 765
35.049.219.1
- 1 5- 4 . 8- 4 . 2- 3 . 9
- 2 8 . 1- 1 9- 3 . 2
9.914.24.1
Finished goodsexcluding foods
and energy
Dec. toDec.1
17 7605762849.4
10.87.74.91.92.02.72.7214.34.23.53.1
Yearto year
1141145760758.9
11.28.6573.02.42.52.3243.34.43.73.6
Percent change from preceding month
Unad-justed
0.2-.7-.4
.2
.6
.1- .2
.1- .2
.7
.1- .3- .1
.2
.1
.2
.7
.6-.2_ 2- .2
.8- .3
Sea-son-allyad-
justed
0.2- .7- .3
.2
.2- .2- .2
.2
.2
.2
.1- .1-.2
.2
.2
.3
.2
.20.1.3.1
- .2
Unad-justed
0.5-.2
.5
.1
.4- .4- .6
- 1 . 0- .5
.20
-.6.2.7
- .1- .4
.20
- .2.3
0.3
-.2
Sea-son-allyad-
justed
- 0 . 10.1.3
_ 2
-2- .6- .5- .10
-.2- .1_ 4
i!o- .5- .3- .2
.2- .2
.7
.4
.1- .5
Unad-justed
0.1- .8- .7
.2
.7
.2- .1
.3- .1
.7
.1_ 2- .2
.1
.2
.4
.7
.7-.2- .2- .2
.9- .2
Sea-son-allyad-
justed
0.2-.7- .6
.1
.2- .2- .1
.4
.5
.4
.2-.2- .1
.1
.4
.4
.4
.20
- .1.3.1
-.2
Unad-justed
- 0 . 2- 1 . 3- 1 . 0
.3- .2
.50.6
0-.4- .30.2.5
1.11.0
- .1- .3_ 2
7-.4
Sea-son-allyad-
justed
- 0 . 1- 1 . 2- .9
.1
.3- .3- .1
.5
.6
.5
.2- .3-.4
.2
.3
.5
.6
.40
- .2.3.2
-.2
Unad-justed
0.8.2
i
o'o"2.1
- .1_ 2L30.1.5.1.2.2
- .1- .1- .10
- .61.6
- .1
Sea-son-allyad-
justed
0.9.2.2
0.3.1.1.1.2.2.2.2.5.1.3.2.1
- .1.1.2
0-.2_ i
Unad-justed
- 2 . 5- 5 . 1- 3 . 7
.33.0.5
- 1 . 11.7.4
- 1 . 0- .3
- 1 . 9- 3 . 0
0.1
1.33.24.1
-.7- .1
.7- 1 . 1- 1 . 9
Sea-son-allyad-
justed
- 2 . 0- 4 . 6- 3 . 1
- . 5.9
- .8- 1 . 0
1.6.4
1.2.1
- 1 . 4- 2 . 8
.5
.5
.71.02.5
- .6- .3
.81.4
- 1 . 5
Unad-justed
0.9.2.1.2
0•2.2
0-.21.3.1.2.5.1.1.2.1
- .1.1
- .3- .41.4.1
Sea-son-allyad-
justed
0.9.2.2
i0.2.2.3.2.2.2.5.1.3.4.3
-.2.1
- .1.2
- .1.1
1 Changes from December to December are based on unadjusted indexes.2 Data have been revised through July 1992 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.Source: Department of Labor, Bureau of Labor Statistics.
422
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE
TABLE B-65.—Money stock, liquid assets, and debt measures, 1959-92
[Averages of daily figures; billions of dollars, seasonally adjusted]
Yearand
month
Ml
Sum ofcurrency,demanddeposits,travelers
checks, andother
checkabledeposits(OCDs)
M2
Ml plusovernightRPs and
Eurodollars,MMMF
balances(general
purpose andbroker/dealer),
MMDAs, andsavings andsmall timedeposits
M3
M2 pluslarge timedeposits,term RPs,
termEurodollars,
andinstitution-only MMMF
balances
M3 plusother liquid
assets
Debt1
Debt ofdomestic
nonfinancialsectors
(monthlyaverage)
Percent change from year or 6months earlier2
Ml M2 M3 Debt
December:1959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989..19901991
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMar
fe==JuneJulyAugSeptOctNov
140.0140.7145.2147.9153.4160.4167.9172.1183.3197.5204.0214.5228.4249.3262.9274.4287.6306.4331.3358.4382.7408.8436.5474.6521.4552.5620.2724.6750.0786.9794.1826.1898.1826.2836.2842.3842.7850.9857.3860.0866.5872.0880.9891.4898.1910.4931.0939.0942.8954.3951.7960.5973.1988.6
1,007.31,019.0
297.8312.4335.5362.7393.3424.8459.4480.0524.4566.4589.6628.1712.7805.2861.0908.6
1,023.31,163.71,286.61,388.71,496.7
1,629.51,792.91,951.92,186.12,374.32,569.42,811.12,910.83,071.13,227.33,339.03,439.83,344.03,369.43,386.93,394.83,405.63,411.83,407.53,409.73,411.93,417.93,431.63,439.8
3,447.63,474.43,475.73,471.53,473.03,464.13,461.63,471.23,481.83,497.13,507.5
299.8315.3341.1371.5406.1442.5482.3505.1557.1606.3615.1677.4776.2886.1985.0
1,070.41,172.21,311.81,472.51,646.41,802.81,987.02,233.62,440.62,693.02,987.43,203.23,494.33,681.13,923.14,059.84,114.94,171.04,125.94,160.24,165.84,168.64,170.54,167.94,157.54,156.84,152.84,159.04,166.94,171.04,173.74,198.74,191.84,179.44,178.74,166.74,162.94,176.34,183.04,184.74,191.4
388.7
403.7430.8466.1503.8540.4584.5614.8666.6729.0763.6816.3903.0
1,023.01,142.61,250.31,367.01,516.61,705.21,910.52,115.82,323.82,596.22,850.43,154.33,528.83,830.44,134.34,339.34,677.14,890.64,965.54,988.14,980.65,007.25,002.54,976.74,956.74,984.94,990.04,983.64,972.64,976.34,989.44,988.14,980.65,009.15,019.95,012.75,002.55,013.75,006.05,024.85,043.85,050.7
688.2723.0765.4817.4872.1935.0
1,002.91,069.61,144.21,236.21,327.41,418.71,551.21,706.91,892.82,062.32,241.22,484.32,804.93,183.63,574.23,913.14,299.54,700.25,244.66,008.26,875.37,795.28,546.29,326.3
10,076.710,751.411,201.310,777.210,825.410,863.310,886.810,940.810,993.911,026.711,062.911,094.811,133.411,174.611,201.311,237.511,288.211,345.011,397.411,443.111,490.311,527.211,564.711,596.511,622.4
0.53.21.93.74.64.72.56.57.73.35.16.59.25.54.44.86.58.18.26.86.86.88.79.96.0
12.316.83.54.9
.94.08.74.04.94.75.06.67.68.27.27.19.19.59.5
11.714.915.414.114.111.911.09.0
10.613.713.6
4.97.48.18.48.08.14.59.38.04.1
6.513.513.06.95.5
12.613.710.67.97.88.9
10.08.9
12.08.68.29.43.55.55.13.53.02.73.23.43.64.34.43.82.41.51.41.51.62.43.83.73.12.41.4.8
- . 2.4
1.52.0
5.28.28.99.39.09.04.7
10.38.81.5
10.114.614.211.28.79.5
11.912.311.89.5
10.212.49.3
10.310.97.29.15.36.63.51.41.41.72.62.42.52.72.61.5
- . 2- . 6- . 5- . 2
.1
.82.01.91.0.6
- . 2- . 5
- 1 . 1- . 4
'.S
7.65.15.96.86.77.27.36.77.08.07.46.99.3
10.010.99.08.7
10.812.913.512.39.59.99.3
11.614.614.413.49.69.18.06.74.25.34.94.54.34.24.54.64.44.34.54.33.83.84.14.54.74.85.25.24.94.43.9
1 Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors;data derived from flow of funds accounts.
2 Annual changes are from December to December; monthly changes are from 6 months earlier at a simple annual rate.
Note.—See Table B-66 for components.
Source: Board of Governors of the Federal Reserve System.
423Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Components of money stock measures and liquid assets, 1959-92
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Yearand
month
December:1959I960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987 . . .1988198919901991 .
1991- JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992: JanFebMarAprMayJuneJulyAugSept. ...OctNov
Currency
28 828.729 330.332 233.936 038.040 043.045 748.652 056.260 867.072 879.587 496.0
104 8115.3122 6132.5146 2156.1167 9180.8197.0212.3222 6246.8267.3251 5254 6256.0256 3256 6257.6259.3261.3262.9264 8266.0267.3269.4271.6271 8273 6274 7276.2278 9282.3286.4288 4290.0
Travelerschecks
0.4.44.45
6.67.88
1.0111.3151.8232.8313.5384.24 44.3495.2596.47.07.5748.38.2838.28.178807.97.87.87.87.98.08.28.28.18080807.9787.98.3868.6
Demanddeposits
110.8111.6115.5117.1120.6125.8131.3133.4142.5153.6157.3164.7175.1191.6200.3205.1211.6221.5236 7250.4257 4261.22312234.0238 5243.9266 7302.0286.8286.5279 0277.1289.5271 8275.9276.9276 1278 4280.1279.3280.1280.6283.8287.6289.5293.9305.1309 63112315 1311.0315 6320.6327.8336 2339.2
Othercheckabledeposits(OCDs)
0.0.0.0.0.1.1.1.1.1.1.2.1.2.2.3.4.9
2.74.28.5
16.828.078.3
103.7131.8147.2179.7235.3259.3280.62851293.9333.2294 6297.5301.3302 5307 8311.6313.7317.3320.6324.5329.7333.2339.0346.3349 5350.0356 4356.7358 2362.2366.1374 0381.2
Overnightrepur-chase
ments(RPs)
net, plusovernightEurodol-
lars 1
NSA
0.0.0.0.0.0.0.0.0.0.0
2.21.32.32.85.35.75.9
10.714.920.721.728.836.639.955.660.673.582.384.183.277.674.776.271970.469.269 668 567.965.067.666.870.073.776.277.777.674 672.669.272.072 475.874.175174.9
Money market mutualfund (MMMF)
balances
Generalpurpose
andbroker/dealer2
0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0
1.72.72.42.46.4
33.461.6
150.6184.5138.3167.1176.1208.0221.7241.9316.3348.9360.5356.6361.0365.0366.6367.8368.8367.9362.4359.9359.3359.5360.5358.6361.7358.3355.9356.7355.3351.7349.7344.7347.6348.7
Institu-tion
only2
0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.2.4.6.9
3.19.5
15.238.051.142.763.765.886.192.191.0
107.2133.7179.1138.3145.5148.5152.9155.2155.3155.4158.6162.6168.2173.6179.1182.4188.2185.3189.2194.8199.7207.7217.2217.2205.6203.5
Savingsdeposits,including
moneymarketdeposit
accounts(MMDAs)3
146.5159.1175.5194.7214.4235.3256.9253.2263.7268.9263.6260.9292.2321.4326.7338.5388.6452.6491.1480.3422.0398.2342.2398.5684.0704.2814.4940.1937.0926.2891.2920.7
1,042.6922.3931.0941.7953.0966.1976.8986.1994.1
1,002.41,015.01,028.71,042.61,061.21,083.91,098.01,111.21,122.41,127.01,134.41,145.61,159.61,171.61,181.8
1 Includes continuing contract RPs.2 Data prior to 1983 are not seasonally adjusted.3 Data prior to 1982 are savings deposits only; MMDA data begin December 1982.
See next page for continuation of table.
424
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Components of money stock measures and liquid assets, 1959-92—Continued
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Yearand
month
Smalldenomi-nationtime
deposits4
Largedenomi-nationtime
deposits4
Termrepur-chaseagree-ments(RPs)
NSA
TermEuro-
dollars
NSA
Savingsbonds
Short-term
Treasurysecurities
Bankersaccept-ances
Commer-cialpaper
December:195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991
1991: Jan..Feb..Mar..
May"JuneJuly..Aug..Sept.Oct..Nov..Dec.
1992: Jan..Feb..Mar..Apr..May.JuneJuly..Aug.!Sept.Oct..Nov..
11.412.514.820.125.629.234.555.077.8100.6120.4151.1189.7231.6265.8287.9338.0390.9445.7521.2633.8727.0820.2847.2780.8884.9881.7854.8917.5
1,032.91,148.51,168.71,063.01,169.31,169.51,165.91,159.71,150.91,140.61,129.51,120.81,111.01,095.21,079.21,063.01,042.91,019.81,002.8985.3968.7956.2942.4927.9915.2898.8884.4
1.22.03.97.010.815.221.223.130.937.420.445.257.773.4
111.1144.8129.8118.1145.0194.9221.4257.6299.1323.3324.8415.6436.1439.5489.1541.2559.3495.2437.1496.7499.6492.7487.5483.5478.5471.4465.6458.5450.0442.3437.1427.9420.7413.0405.7400.9395.3388.5384.6380.0373.2369.5
0.0.0.0.0.0.0.0.0.0.0
2.71.62.73.56.77.88.113.918.926.229.133.535.333.449.957.662.480.6106.0121.899.189.670.588.786.783.582.280.478.478.778.276.575.273.370.570.571.773.372.573.473.672.573.375.177.379.4
0.7.81.51.61.92.41.82.22.22.92.72.22.73.65.58.19.814.820.231.844.750.367.581.791.582.976.583.891.0105.779.568.757.269.269.868.265.262.361.662.763.661.562.861.557.255.355.957.955.052.851.850.850.848.648.248.8
46.145.746.546.948.149.049.650.251.251.851.752.054.357.660.463.367.271.876.480.379.672.367.868.071.174.279.591.8100.6109.4117.5126.0137.9126.9127.9129.0130.1131.3132.4133.5134.4135.2136.1137.1137.9138.9140.1141.2142.4143.5144.6145.9147.5149.5152.0
38.636.737.039.840.738.540.743.238.746.159.548.836.040.749.352.868.469.878.181.1107.8133.5149.4183.6211.9260.9298.2279.8252.8268.8324.7331.3316.1329.0327.3322.0305.7297.8323.5331.1328.9321.2319.7322.9316.1310.0319.9327.7327.6328.9333.3325.2327.8326.4322.9
0.6.9
1.11.11.21.31.61.81.82.33.33.53.83.55.0
12.610.710.814.122.027.232.140.044.545.045.442.037.144.339.840.134.023.335.334.632.130.629.128.128.127.225.825.324.523.323.222.922.221.622.022.021.720.920.421.6
3.65.15.26.87.79.1
10.214.417.822.534.034.532.735.242.851.248.552.564.180.798.498.8
105.3113.7133.2160.8207.5231.2260.5336.1348.6359.3339.7363.4357.1353.8341.6327.9333.0339.8336.3337.7336.2337.9339.7334.8327.5337.0341.7329.4347.1350.3352.4364.4369.5
4 Small denomination and large denomination deposits are those issued in amounts of less than $100,000 and more than $100,000,respectively.
Note.—NSA indicates data are not seasonally adjusted.See also Table B-65.
Source: Board of Governors of the Federal Reserve System.
425Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-67.—Aggregate reserves of depository institutions and monetary base, 1959-92
[Averages of daily figures1; millions of dollars; seasonally adjusted, except as noted]
Year and month
Adjusted for changes in reserve requirements 2
Reserves of depository institutions
Total Nonbor-rowed
Nonbor-rowedplus
extendedcredit
Required
Mone-tary
Borrowings of depositoryinstitutions from the Federal
Reserve, NSA
Total SeasonalExtended
credit
December:1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1991: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992:JanFebMarAprMayJune
JulyAugSeptOctNov
11,109
11,24711,49911,60411,73012,011
12,31612,22313,18013,76714,168
14,55815,23016,64517,02117,550
17,82218,38818,99019,75320,720
22,01522,44323,60025,36726,878
31,48539,00538,93440,46840,558
41,83245,601
42,22142,12041,94841,88442,38942,710
42,84543,28243,48744,13844,78545,60146,18647,74648,47649,00149,49449,234
49,48950,32251,34653,14354,069
10,168
11,17211,36611,34411,39711,747
11,87211,69012,95213,02113,049
14,22515,10415,59515,72316,823
17,69218,33518,42018,88519,248
20,32521,80722,96624,59323,692
30,16738,17938,15738,75240,293
41,50645,409
41,68741,86841,70741,65242,08642,370
42,23842,51742,84143,87744,67745,40945,95347,66848,38548,91149,33949,005
49,20550,07151,05853,00053,965
10,168
11,17211,36611,34411,39711,747
11,87211,69012,95213,02113,049
14,22515,10415,59515,72316,970
17,70418,33518,42018,88519,248
20,32821,95623,15224,59526,296
30,66638,48238,64039,99640,313
41,52945,410
41,71441,90141,76041,73842,17442,377
42,28442,81843,14343,88944,67845,41045,95447,67048,38648,91349,33949,005
49,20550,07151,05853,00053,965
10,603
10,50310,91511,03311,23911,605
11,89211,88412,80513,34113,882
14,30915,04916,36116,71717,292
17,55618,11518,80019,52120,279
21,50122,12423,10024,80626,023
30,44837,63537,88839,42039,636
40,16744,623
40,05240,31140,76940,85341,35941,701
41,93942,19642,55843,05543,89344,62345,18346,68147,44747,86348,49448,321
48,52449,38750,35252,06953,027
40,880
40,97741,85342,95745,00347,161
49,62051,56554,57958,35761,569
65,01369,10875,16781,07387,535
93,887101,515110,323120,445131,143
142,004149,021160,127175,467187,248
203,601223,732239,967256,973267,772
293,287317,254
298,001301,466302,779303,017303,734305,003
306,794309,132310,929313,281315,332317,254319,695323,411324,512326,500328,584329,642
332,255336,865341,545345,610348,116
941
74133260332264
444532228746
1,119
332126
1,0501,298
727
13053
569868
1,473
1,690636634774
3,186
1,318827777
1,716265
326192
534252241231303340
607764645261108192233
779190
155229
284251287143104
4132
141355
13582
116543396
113
563893
13084
7638
33375579
151222
317331287211
86381722324798
149
20322319311440
147
12
3148186
22,604
499303483
1,24420
231
27345386
46300302
1211122200
00000
1 Data are prorated averages of biweekly (maintenance period) averages of daily figures.2 Aggregate reserves incorporate adjustments for discontinuities associated with regulatory changes to reserve requirements. For
details on aggregate reserves series see Federal Reserve Bulletin.
Note.—NSA indicates data are not seasonally adjusted.
Source-. Board of Governors of the Federal Reserve System.
426
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-68.—Commercial bank loans and securities, 1972-92
[Monthly average; billions of dollars, seasonally adjusted ']
Year and month
Totalloansand
securi-t ies2
U.S.Govern-
mentsecuri-
ties
Othersecuri-
ties
Loans and leases
Total 2
Com-mercial
andindus-trial
Realestate
Indi-vidual
Secu-rity
Non-bankfinan-
cialinsti-
tutions
Agri-cul-tural
Stateand
politi-cal
subdi-visions
For-eign
banks
For-eign
officialinsti-
tutions
Leasefinanc-
receiv-ables
Other
December:197219731974
19751976197719781979
19801981198219831984 .....
19851986198719881989
19901991
1991:JanFebMar
May"".."....".'June
JulyAugSeptOctNovDec
1992:JanFebMarAprMayJune
JulyAugSeptOctNov
572.5647.8713.7
745.1804.6891.5
1,013.91,135.6
1,238.61,307.01,400.41,552.21,722.2
1,909.52,093.22,238.52,422.82,590.8
2,730.82,838.7
2,735.82,747.32,759.92,763.52,764.82,773.3
2,773.82,776.92,789.12,805.52,822.72,838.7
2,852.02,854.82,863.12,877.52,877.62,883.7
2,884.42,897.22,913.32,924.92,936.6
89.088.286.3
116.7136.3136.6137.6144.3
170.6179.3201.7259.2260.2
270.8310.0335.8363.5398.2
454.1562.6
456.8460.7470.8478.1483.9493.5
502.4512.6523.0538.7550.8562.6
566.2571.2579.5592.3601.7611.7
619.5634.1639.1646.2653.6
93.499.4
107.5
111.2113.5122.7129.2141.9
154.4160.5164.8169.1140.9
179.0193.9193.6192.4181.7
177.9179.4
178.3178.3178.5177.5176.8176.3
175.8174.4176.3177.9178.8179.4
179.7180.5178.1178.5177.1175.5
177.8178.1178.0178.9177.9
390.1460.2519.9
517.2554.8632.3747.1849.4
913.5967.3
1,033.91,123.91,321.1
1,459.81,589.41,709.11,866.92,010.9
2,098.82,096.6
2,100.72,108.32.110.52,108.02,104.02,103.6
2,095.52,089.92,089.82,099.92,093.22,096.6
2,106.12,103.12,105.52,106.72,098.82,096.5
2,087.12,085.12,096.22,099.82,105.0
137.1165.0196.6
189.3190.9211.0246.2291.4
325.7355.4392.5414.2473.1
500.2537.0567.1606.8640.2
643.2618.0
638.6638.2638.7635.1630.5625.8
623.8619.5622.0622.6621.7618.0
617.3613.2610.9609.2607.3604.7
603.1600.7602.9603.3606.0
98.1117.3130.1
134.4148.8175.2210.5241.9
262.6284.1299.9331.0376.2
425.8494.0586.9670.1759.5
843.3873.1
847.7852.8857.7861.5863.8868.5
867.3866.7868.1869.8871.9873.1
873.5877.5879.4881.4882.6881.2
878.9878.4882.6887.1889.5
86.398.6
102.4
104.9116.3138.3164.7184.5
179.2182.5188.2212.9253.8
294.7315.3328.3354.5374.8
379.6363.5
374.9376.3375.2374.4373.8373.1
370.9370.3367.3364.2363.1363.5
363.1363.6362.2360.7358.9359.0
358.6357.2356.5355.2354.6
15.612.912.7
13.517.721.019.718.7
18.021.425.328.034.4
43.040.334.841.241.5
44.754.5
49.851.848.248.549.149.0
47.448.450.051.153.554.5
59.457.160.464.961.663.9
60.762.566.265.764.4
21.728.534.5
28.926.425.826.229.3
29.329.931.230.431.3
32.435.032.032.334.3
35.740.6
35.536.136.935.836.138.6
37.736.937.137.237.840.6
40.842.643.742.743.042.0
40.741.844.344.345.1
14.317.218.3
20.123.225.828.231.1
31.633.136.239.240.1
36.131.529.428.729.8
32.034.0
31.931.933.033.633.733.9
34.034.334.534.133.834.0
33.733.534.334.434.334.8
34.835.335.335.034.7
0.046.0
56.758.552.445.140.0
33.929.1
32.832.932.832.331.731.4
31.030.630.329.729.429.1
28.028.128.027.727.226.8
26.426.026.025.525.2
3.96.28.3
9.011.713.721.518.6
23.818.114.713.411.6
9.910.37.87.78.2
7.57.4
1.62.12.2
2.42.82.74.96.9
11.57.25.99.48.4
6.36.35.75.03.5
2.82.4
2.62.72.82.52.42.5
2.32.22.32.42.52.4
2.32.12.12.02.02.0
2.12.12.12.12.5
1.42.13.2
4.05.15.77.49.3
10.912.713.313.716.0
19.022.424.629.331.8
32.831.7
32.733.033.133.133.033.3
32.531.931.831.631.531.7
31.531.631.531.631.732.0
31.030.730.830.630.5
10.110.211.5
10.711.912.917.817.8
21.122.926.831.830.2
35.638.840.146.247.1
43.342.4
47.445.944.744.143.441.1
42.342.739.839.541.142.4
49.247.146.545.643.342.4
43.143.341.643.845.8
1 Data are prorated averages of Wednesday figures for domestically chartered banks and for foreign-related institutions beginning July1981. Prior to July 1981, data for foreign-related institutions are averages of current and previous month-end data.
2 Excludes loans to commercial banks in the United States.
Note.—Data are not strictly comparable because of breaks in the series.
Source-. Board of Governors of the Federal Reserve System.
427Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Bond yields and interest rates, 1929-92
[Percent per annum]
Yearand
month
1929193319391940194119421943 .1944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992
1987:JanFebMar....AprMay....June...July....Aug....Sept...OctNovDec
U.S. Treasury s
Bills(new issues)1
3-month
0.515.023.014103
.326373.375375.375594
1.0401.1021.21815521.7661.931.953
1.7532.6583.2671.8393.4052.9282.3782.7783.1573.5493.9544.8814.3215.3396.6776.4584.3484.0717.0417.8865.8384.9895.2657.221
10.04111.50614.02910.6868.639.587.485.985.826.698.127.515.423.45
5.455.595.565.765.755.695.786.006.326.405.815.80
6-month
3"832"3.2472.6052.9083.2533.6864.0555.0824.6305.4706.8536.5624.5114.4667.1787.9266.1225.2665.5107.572
10.01711.37413.77611.0848.759.807.666.036.056.928.047.475.493.57
5.475.605.565.936.115.995.866.146.576.866.236.36
ecurities
Constantmaturities2
3-year
2"47"1.632.473.193.982.844.463.983.543.473.674.034.225.235.035.687.027.295.655.726.957.827.496.776.698.299.71
11.5514.4412.9210.4511.899.647.067.688.268.558.266.825.30
6.416.566.587.328.027.827.748.038.678.757.998.13
10-year
£85*2.402.823.183.653.324.334.123.883.954.004.194.284.925.075.656.677.356.166.216.847.567.997.617.428.419.44
11.4613.9113.0011.1012.4410.627.688.398.858.498.557.867.01
7.087.257.258.028.618.408.458.769.429.528.868.99
Corporatebonds
(Moody's)
Aaa
4 734.493.012.842 772.832 732.722 622.532 612.822.662.622 862.963.202.903.063.363.893.794.384.414.354.334.264.404.495.135.516.187.038.047.397.217.448.578.838.438.028.739.63
11.9414.1713.7912.0412.7111.379.029.389.719.269.328.778.14
8.368.388.368.859.339.329.429.67
10.1810.5210.0110.11
Baa
5 907.764.964.754 334.283 913.613 293.053 243.473.423.243 413.523.743.513.533.884.714.735.055.195.085.024.864.834.875.676.236.947.819.118.568.168.249.50
10.619.758.979.49
10.6913.6716.0416.1113.5514.1912.7210.3910.5810.8310.1810.369.808.98
9.729.659.61
10.0410.5110.5210.6110.8011.3111.6211.2311.29
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
4 274.712.762.502 102.362 061.861671.642 012.402.211.982 002.192.722.372 532.933.603.563.953.733.463.183.233.223.273.823.984.515.816.515.705.275.186.096.896.495.565.906.398.51
11.2311.579.47
10.159.187.387.737.767.247.256.896.41
6.636.666.717.628.107.897.837.908.368.848.098.07
New-homemort-gage
yields3
£895.835.816.256.466.977.818.457.747.607.968.929.009.009.029.56
10.7812.6614.7015.1412.5712.3811.5510.179.319.19
10.1310.059.32
9.519.239.149.219.379.459.419.389.379.259.309.15
Commer-cial
paper,6
months4
5 851.73.59.5653.6669.7375.81
1031.441.491.452 162.332.521.582.183.313.812.463.973.852.973.263.553.974.385.555.105.907.837.715.114.738.159.846.325.345.617.99
10.9112.2914.7611.898.89
10.168.016.396.857.688.807.955.853.80
5.765.996.106.507.047.006.726.817.557.967.177.49
Prime ratecharged by
banks5
5 50-6 001.50-4.00
1.501.501 501.501 501.501 501.50
1 50-1 751.75-2.00
2.002.072 563.003.173.053.163.774.203.834.484.824.504.504.504.504.545.635.616.307.967.915.725.258.03
10.817.866.846.839.06
12.6715.2718.8714.8610.7912.049.938.338.219.32
10.8710.018.466.25
High-low
7.50- 7.507.50- 7.507.50- 7.507.75- 7.508.25- 7.758.25- 8.258.25- 8.258.25- 8.258.75- 8.259.25- 8.759.00- 8.758.75- 8.75
Discountrate,
FederalReserveBank of
New York5
5 162.561.001.00100
71.007 10071.007 1 0071.00
1001.341.501.591751.751.991.601.892.773.122.153.363.533.003.003.233.554.044.504.195.165.875.954.884.506.447.836.255.505.467.46
10.2811.7713.4211.028.508.807.696.335.666.206.936.985.453.25
High-low
r 5.50-5.505.50-5.505.50-5.505.50-5.505.50-5.505.50-5.505.50-5.505.50-5.506.00-5.506.00-6.006.00-6.006.00-6.00
Federalfundsrate6
1782.733.111.573.303.221.962.683.183.504.075.114.225.668.207.184.664.438.73
10.505.825.045.547.93
11.1913.3616.3812.269.09
10.238.106.816.667.579.218.105.693.52
6.436.106.136.376.856.736.586.737.227.296.696.77
1 Rate on new issues within period; bank-discount basis.2 Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department.3 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and
assuming, on the average, repayment at end of 10 years. Rates beginning January 1973 not strictly comparable with prior rates.See next page for continuation of table.
428
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Bond yields and interest rates, 1929-92—Continued
[Percent per annum]
Yearand
month
1988:JanFebMar....
May"!!!June...July....Aug....Sept...OctNovDec
1989:JanFebMar....
May!!!!June...July....Aug....Sept...OctNovDec. . .
1990:JanFebMar....
May!!!!June...July....Aug....Sept...OctNovDec
1991:JanFebMar....AprMay....June...July....Aug....Sept...OctNovDec
1992:JanFebMar....AprMay....June...July ...Aug....Sept...OctNovDec
U.S. Treasury securities
Bills(new issues)1
3-month
5.905.695.695.926.276.506.737.027.237.347.688.09
8.298.488.838.708.408.227.927.917.727.637.657.64
7.647.767.877.787.787.747.667.447.387.197.076.81
6.305.955.915.675.515.605.585.395.255.034.604.12
3.843.844.053.813.663.703.283.142.972.843.143.25
6-month
6.315.965.916.216.536.766.977.367.437.507.768.24
8.388.498.878.738.398.007.637.727.747.617.467.45
7.527.727.837.827.827.647.577.367.337.207.046.76
6.345.935.915.735.655.765.715.475.295.084.664.16
3.883.944.193.933.783.813.363.233.012.983.353.39
Constantmaturities2
3-year
7.877.387.507.838.248.228.448.778.578.438.729.11
9.209.329.619.408.988.377.838.138.268.027.807.77
8.138.398.638.788.698.408.268.228.278.077.747.47
7.387.087.357.237.127.397.386.806.506.235.905.39
5.405.726.185.935.815.604.914.724.424.645.145.21
10-year
8.678.218.378.729.098.929.069.268.988.808.969.11
9.099.179.369.188.868.288.028.118.198.017.877.84
8.218.478.598.798.768.488.478.758.898.728.398.08
8.097.858.118.048.078.288.277.907.657.537.427.09
7.037.347.547.487.397.266.846.596.426.596.876.77
CorporatehnnrlcDonos
(Moody's)
Aaa
9.889.409.399.679.909.869.96
10.119.829.519.459.57
9.629.649.809.799.579.108.938.969.018.928.898.86
8.999.229.379.469.479.269.249.419.569.539.309.05
9.048.838.938.868.869.019.008.758.618.558.488.31
8.208.298.358.338.288.228.077.957.927.998.107.98
Baa
11.0710.6210.5710.9011.0411.0011.1111.2110.9010.4110.4810.65
10.6510.6110.6710.6110.4610.039.879.889.919.819.819.82
9.9410.1410.2110.3010.4110.2210.2010.4110.6410.7410.6210.43
10.4510.0710.099.949.869.969.899.659.519.499.459.26
9.139.239.259.219.139.058.848.658.628.848.968.81
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
7.817.557.807.918.017.867.877.867.717.547.587.66
7.417.477.617.497.256.976.977.087.277.227.137.01
7.137.217.297.367.347.227.157.317.407.407.107.04
7.056.907.077.056.957.097.036.896.806.596.646.63
6.416.676.696.646.576.506.126.086.246.386.356.24
New-homemort-gage
yields3
9.109.129.159.138.959.269.179.069.269.109.439.39
9.529.829.99
10.1710.1810.4210.4810.2210.2410.1110.0910.07
9.919.88
10.0310.1710.2810.1310.0810.119.909.989.909.76
9.659.579.439.609.529.469.439.489.309.048.648.53
8.498.658.518.588.598.438.008.007.937.908.07
Commer-cial
paper,6
months4
6.926.586.646.927.317.537.908.368.238.248.558.97
9.029.359.979.789.298.808.358.328.508.248.007.93
7.968.048.238.298.238.067.907.777.837.817.747.49
7.026.416.366.075.946.166.145.765.595.334.934.49
4.064.134.384.133.973.993.533.443.263.333.673.70
Prime ratecharged by
banks5
High-low
8.75- 8.758.75- 8.508.50- 8.508.50- 8.509.00- 8.509.00- 9.009.50- 9.00
10.00- 9.5010.00-10.0010.00-10.0010.50-10.0010.50-10.50
10.50-10.5011.50-10.5011.50-11.5011.50-11.5011.50-11.5011.50-11.0011.00-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.50
10.50-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.00
10.00- 9.509.50- 9.009.00- 9.009.00- 9.009.00- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.008.00- 8.008.00- 7.507.50- 6.50
6.50-6.506.50-6.506.50-6.506.50-6.506.50-6.506.50-6.506.50-6.006.00-6.006.00-6.006.00-6.006.00-6.006.00-6.00
Discountrate,
FederalReserveBank of
New York5
High-low
6.00-6.006.00-6.006.00-6.006.00-6.006.00-6.006.00-6.006.00-6.006.50-6.006.50-6.506.50-6.506.50-6.506.50-6.50
6.50-6.507.00-6.507.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.00
7.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-6.50
6.50-6.506.50-6.006.00-6.006.00-5.505.50-5.505.50-5.505.50-5.505.50-5.505.50-5.005.00-5.005.00-4.504.50-3.50
3.50-3.503.50-3.503.50-3.503.50-3.503.50-3.503.50-3.503.50-3.003.00-3.003.00-3.003.00-3.003.00-3.003.00-3.00
Federalfundsrate6
6.836.586.586.877.097.517.758.018.198.308.358.76
9.129.369.859.849.819.539.248.999.028.848.558.45
8.238.248.288.268.188.298.158.138.208.117.817.31
6.916.256.125.915.785.905.825.665.455.214.814.43
4.034.063.983.733.823.763.253.303.223.103.092.92
4 Bank-discount basis; prior to November 1979, data are for 4-6 months paper.5 For monthly data, high and low for the period. Prime rate for 1929-33 and 1947-48 are ranges of the rate in effect during the
period.6 Since July 19, 1975, the daily effective rate is an average of the rates on a given day weighted by the volume of transactions at
these rates. Prior to that date, the daily effective rate was the rate considered most representative of the day's transactions, usuallythe one at which most transactions occurred.
7 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by Governmentsecurities maturing in 1 year or less.
Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Board, Moody'sInvestors Service, and Standard & Poor's Corporation.
429Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Total funds raised in credit markets by nonjinancia I sectors, 1983-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item 1983 1984 1985 1986 1987 1988 1989 1990 1991
Net credit market borrowing by nonfinancial sectors
Total net borrowing by domestic nonfinancial sec-tors
U.S. Government
Treasury issues
Agency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residentialCommercialFarm
Other debt instruments
Consumer creditBank loans n.e.cOpen-market paperOther
By borrowing sector:
State and local governmentsHouseholdsNonfinancial business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n.e.cOpen-market paperU.S. Government and other loans
Total domestic plus foreign
Total funds supplied to domestic nonfinancial sec-tors
Private domestic nonfinancial sectors
Deposits and currency
Checkable deposits and currencyTime and savings depositsMoney market fund sharesSecurity repurchase agreementsForeign deposits
Credit market instruments
Foreign funds
At banksCredit market instruments
U.S. Government and related loans, netU.S. Government cash balancesPrivate insurance and pension reservesOther sources
See next page for continuation of table.
553.3
185.2
185.3- . 1
368.1
263.8
54.416.0
193.4
125.914.151.0
2.4
104.4
48.925.0- . 831.3
368.1
34.6185.7147.8
3.983.960.1
17.3
3.13.66.54.1
570.7
765.4
197.2
197.4- . 2
568.2
334.6
58.746.1
229.9
143.825.262.2
-1 .2
233.5
81.767.921.762.2
568.2
35.7232.7299.8
- . 4123.2177.0
8.4
3.8- 6 . 6
6.25.0
773.7
903.1
225.7
225.8_ \
677.4
503.0
178.674.2
250.3
164.829.862.2
- 6 . 6
174.4
82.340.614.636.9
677.4
134.0284.9258.5
-14 .5130.0143.0
1.2
3.8- 2 . 8
6.2- 6 . 0
904.3
893.8
216.0
215.6.4
677.9
523.1
45.7127.1350.3
252.633.573.6
- 9 . 5
154.8
57.563.6
- 9 . 343.0
677.9
59.2319.4299.3
-16 .3100.7214.8
9.7
3.1- 1 . 011.5
- 3 . 9
903.5
721.2
143.9
142.41.5
577.3
487.2
83.578.8
325.0
235.324.471.6
-6 .4
90.1
32.99.91.6
45.7
577.3
83.0296.4197.8
-10.665.3
143.1
6.2
7.4-3 .6
3.8- 1 . 4
727.4
775.8
155.1
137.717.4
620.7
474.1
53.7103.1317.3
241.816.760.8
- 2 . 1
146.6
50.141.011.943.6
620.7
48.9318.6253.1
- 7 . 561.8
198.8
6.4
6.9- 1 . 8
8.7- 7 . 5
782.2
740.8
146.4
144.71.6
594.4
441.8
65.073.8
303.0
245.316.442.7
- 1 . 5
152.6
41.740.221.449.3
594.4
63.2305.6225.6
1.650.4
173.6
10.2
4.9- . 113.1
- 7 . 6
750.9
665.0
246.9
238.78.2
418.2
342.3
51.247.1
244.0
219.43.7
21.0- . 1
75.8
17.54.49.7
44.2
418.2
48.3254.2115.6
2.526.786.4
23.9
21.4- 2 . 912.3
- 6 . 9
688.9
Direct and indirect supply of funds to credit markets
452.7
278.2
292.0-13 .8
174.4
254.6
45.878.8
130.0
142.2- 2 . 0- 9 . 4
- . 8
- 8 0 . 2
-12 .5-33.4-18.4-15.8
174.4
38.5158.0
-22.1
.9-23.6
.6
14.1
14.93.16.4
-10.2
466.8
553.3
382.2
232.7
45.0200.5
-39.023.1
3.1
149.5
40.8
14.626.2
9.0- 5 . 3133.3- 6 . 6
765.4
473.4
313.9
37.5222.749.0
9.8- 5 . 1
159.5
68.6
8.859.8
16.54.0
159.843.0
903.1
537.9
210.2
55.2131.9
7.217.7
- 1 . 7
327.7
80.9
19.761.2
37.010.3
143.493.6
893.8
424.6
296.4
115.6111.543.220.2
5.9
128.1
111.1
12.998.2
18.61.7
187.6150.3
721.2
423.1
185.7
17.5120.228.921.6
- 2 . 5
237.4
105.5
43.761.8
8.1- 5 . 8107.882.5
775.8
460.7
234.5
27.3165.320.232.9
-11.2
226.2
105.6
9.396.3
-14 .37.3
182.833.7
740.8
424.6
215.1
11.7105.686.4
6.94.4
209.6
64.1
- 9 . 974.1
-46 .3- 3 . 4210.2
91.5
665.0
290.4
86.6
21.916.554.4
-18.212.0
203.8
82.3
23.858.4
17.35.3
175.993.9
452.7
50.1
28.5
69.4-66.0
33.8-18.7
10.0
21.6
20.6
-24.144.7
32.05.5
204.3140.1
430
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Total funds raised in credit markets by nonfinancial sectors, 1983-92—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item1990 1991 1992
Total net borrowing by domestic nonfinancialsectors
U.S. Government....
Treasury issues
Agency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residentialCommercialFarm
Other debt instruments....
Consumer creditBank loans n.e.cOpen-market paperOther
By borrowing sector:
State and local governmentsHouseholdsNonfinancial business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n.e.cOpen-market paperU.S. Government and other loans
Total domestic plus foreign
Total funds supplied to domestic nonfinancialsectors
Private domestic nonfinancial sectors
Deposits and currency
Checkable deposits and curren-cy
Time and savings depositsMoney market fund sharesSecurity repurchase agreementsForeign deposits
Credit market instruments-
Foreign funds
At banksCredit market instruments..,
U.S. Government and related loans, net....U.S. Government cash balancesPrivate insurance and pension reserves....Other sources
883.5
244.8
215.229.6
638.7
486.9
70.327.5
389.1
333.11.2
55.4- . 7
151.8
40.8-7 .648.270.4
638.7
73.9390.0174.8
5.845.1
123.9
11.5
34.2-9 .7
-14.91.9
895.0
883.5
569.6
184.8
43.491.8
108.2-23.9
-34.7
384.7
18.4
8.410.1
39.15.3
94.0157.0
Net credit market borrowing by nonfinancial sectors
619.0
203.8
198.45.4
415.2
321.0
54.765.8
200.4
188.5- 7 . 118.6
.4
94.2
21.422.8- . 450.4
415.2
47.4234.6133.2
-3 .625.4
111.4
35.8
19.61.3
23.1-8 .2
654.8
653.9
268.2
269.5- 1 . 3
385.7
283.4
39.229.8
214.5
193.816.62.81.3
102.3
14.410.925.351.6
385.7
37.3232.5116.0
8.228.379.4
23.9
2.02.0
25.6-5 .6
677.8
503.9
270.8
271.8- 1 . 0
233.0
277.9
40.665.2
172.1
162.33.97.2
- 1 . 3
-44 .9
-6 .6- 8 . 4
-34 .14.3
233.0
34.7159.838.6
- . 37.9
31.0
24.2
29.6-5 .215.6
-15.8
528.1
455.4
227.4
251.4-24.0
228.0
296.1
35.676.7
183.8
153.06.3
24.6- . 1
-68.0
-10.4-15.0-14 .3-28.3
228.0
36.0160.831.2
3.913.214.0
63.1
11.18.1
46.7- 2 . 8
518.5
543.3
276.7
282.9- 6 . 2
266.6
329.9
48.596.5
184.8
158.112.514.9- . 7
-63 .3
- 7 . 8-34.5-15.9
-5 .2
266.6
38.6188.839.2
2.19.8
27.2
-63.2
10.6- 3 . 5
-51.9-18.3
480.1
405.6
288.4
317.2-28 .8
117.2
182.0
53.581.746.8
122.4-29.4-43.8
- 2 . 5
-64.8
-24.0-18.2-36 .3
13.7
117.2
37.6136.1
-56.5
- . 3-65.9
9.7
15.6
15.51.4
• 16.0-17.2
421.2
406.3
320.4
316.63.8
85.9
210.6
45.560.3
104.8
135.12.7
-33.1.0
-124.7
- 8 . 0-66 .1
- 7 . 0-43.6
85.9
41.9146.3
-102.4
-2 .2-51 .5-48.7
41.0
22.36.5
14.9-2 .7
447.3
667.5
368.9
380.1-11.2
298.6
312.9
52.076.3
184.7
209.6- 1 . 3
-22.6-1 .1
-14.4
3.1-26.9
12.6-3 .2
298.6
46.1217.1
35.4
-1 .6-20.7
57.7
9.9
4.91.5
- 7 . 811.4
677.3
535.1
351.9
351.5.4
183.2
218.4
73.077.567.9
121.6-31.6-24.9
2.7
-35.2
-12.4-21 .5
- 3 . 42.1
183.2
63.4143.3
-23.4
7.1-65.6
35.2
55.9
22.814.127.7
- 8 . 8
591.0
379.9
193.4
184.49.0
186.5
196.4
52.361.382.8
147.2-10.7-54.7
1.1
-10.0
-23.31.7
11.2
186.5
50.0148.1
-11.7
2.4-51.4
37.4
30.1
23.23.4
12.8-9 . 3
410.1
Direct and indirect supply of funds to credit markets
619.0
307.5
21.4
22.1- 4 . 3
-43.617.329.9
286.1
88.0
27.460.6
18.81.4
233.5-30.3
653.9
184.3
94.8
28.0-30.6109.2
-27 .315.4
89.5
158.8
80.977.9
93.314.2
147.555.9
503.9
100.2
45.3
- 6 . 09.2
43.6-38.7
37.2
54.8
63.8
-21.385.1
-81.9.4
228.6192.9
455.4
313.0
263.6
84.347.4
182.6-52.2
1.4
49.4
17.9
- 1 . 319.1
44.520.5
277.7-218.0
543.3
98.4
-92.1
23.3-63 .5-66.4
- 4 . 518.9
190.5
-47.0
-98.451.4
91.3-19.6144.0276.2
405.6
-164.6
-29.3
121.4-143.0
- 2 . 1-20.6
15.1
-135.3
73.9
36.537.3
43.56.5
267.2179.2
406.3
-46 .5
-28.2
48.7-104.9
21.12.34.6
-18.2
37.8
-33.271.0
-51.414.6
128.5323.1
667.5
343.4
204.3
158.7-86 .1101.433.4
- 3 . 1
139.2
93.6
5.288.4
118.8-43.2
54.6100.4
535.1
-77.6
-151.1
60.3-182.8-41.6
42.9-30.1
73.5
214.1
71.6142.5
-79.721.2
169.4287.6
379.9
- 2 7 5 . 3
- 2 2 . 6
156.2-161.0-15.6
12.5-14.8
-252.7
173.6
115.258.4
-35.65.4
263.2248.6
Source: Board of Governors of the Federal Reserve System.
431Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-71.—Mortgage debt outstanding by type of property and of financing, 1940-92
[Billions of dollars]
End of yearor quarter
Allproper-
ties
Farmproper-
ties
Nonfarm properties
Total1- to 4-familyhouses
Multi-familyproper-
ties
Com-mercialproper-
ties
Nonfarm properties by type of mortgage
Government underwritten
Total1
1- to 4-family houses
Total FHAinsured
VAguar-
anteed
Conventional2
Total1- to 4-familyhouses
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
1990
1991
1990: IIIIllIV
1991:1IIIllIV
1992: IIIIll
36.537.636.735.334.735.541.848.956.262.7
72.882.391.4
101.3113.7129.9144.5156.5171.8190.8
207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6
473.7524.2597.4672.6732.5791.9878.6
1,010.31,163.01,328.4
1,460.41,566.71,637.91,825.42,051.92,309.52,644.83,001.83,288.13,575.0
3,797.73,919.5
3,642.13,700.93,757.83,797.7
3,834.93,891.23,904.43,919.5
3,966.83.992.94,008.6
6.56.46.05.44.94.84.95.15.35.6
6.16.77.27.78.29.09.8
10.411.112.1
12.813.915.216.818.921.223.125.127.529.4
30.532.435.439.844.949.955.463.972.886.8
97.5107.2111.3113.7112.4105.996.587.585.284.0
84.083.2
83.984.084.384.0
83.983.883.283.2
30.031.230.829.929.730.836.943.950.957.1
66.775.684.293.6
105.4120.9134.6146.1160.7178.7
194.7214.1236.2261.7287.0312.1333.4356.1383.5412.2
443.2491.8562.0632.8687.5742.0823.2946.4
1,090.21,241.7
1,362.91,459.51,526.61,711.71,939.52,203.62,548.32,914.33,202.83,491.0
3,713.83,836.3
3,558.23,617.03,673.53,713.8
3,751.03,807.53,821.23,836.3
82.9 3,883.983.6 3,909.383.9 3,924.7
17.418.418.217.817.918.623.028.233.337.6
45.251.758.566.175.788.299.0
107.6117.7130.9
141.9154.6169.3186.4203.4220.5232.9247.3264.8283.2
297.4325.9366.5407.9440.7482.1546.3642.7753.5870.5
965.11,039.81,080.01,198.51,334.51,502.51,726.91,967.32,208.22,435.2
2,644.72,777.9
2,498.92,555.12,606.22,644.7
2,674.02,723.22,755.42,777.9
2,831.22,870.72,900.7
5.75.95.85.85.65.76.16.67.58.6
10.111.512.312.913.514.314.915.316.818.7
20.323.025.829.033.637.240.343.947.352.2
60.170.182.893.1
100.0100.6105.7114.0124.9134.9
142.3142.1145.7160.7185.5214.8260.9284.1296.6306.8
310.3308.6
306.9305.1309.3310.3
311.9315.2307.8308.6
308.4300.5297.8
6.97.06.76.36.26.47.79.1
10.210.8
11.512.513.414.516.318.320.723.226.129.2
32.436.541.146.250.054.560.164.871.476.9
85.695.9
112.7131.7146.9159.3171.2189.7211.8236.3
255.5277.5300.9352.4419.5486.3560.5662.9698.0749.0
758.8749.8
752.4756.7758.0758.8
765.1769.3758.0749.8
744.3738.1726.2
2.33.03.74.14.24.36.39.8
13.617.1
22.126.629.332.136.242.947.851.655.259.3
62.365.669.473.477.281.284.188.293.4
100.2
109.2120.7131.1135.0140.2147.0154.1161.7176.4199.0
225.1238.9248.9279.8294.8328.3370.5431.4459.7486.8
517.9537.2
495.1502.3510.9517.9
525.3545.7535.3537.2
538.1536.1535.4
2.33.03.74.14.24.36.19.3
12.515.0
18.822.925.428.132.138.943.947.250.153.8
56.459.162.265.969.273.176.179.984.490.2
97.3105.2113.0116.2121.3127.7133.5141.6153.4172.9
195.2207.6217.9248.8265.9288.8328.6387.9414.2440.1
470.9493.3
448.2455.0464.1470.9
478.0497.3491.4493.3
494.3492.4491.9
2.33.03.74.14.24.13.73.85.36.9
8.59.7
10.812.012.814.315.516.519.723.8
26.729.532.335.038.342.044.817.450.654.5
59.965.768.266.265.166.166.568.071.481.0
93.6101.3108.0127.4136.7153.0185.5235.5258.8282.8
310.9330.6
289.8296.2304.8310.9
317.0334.1329.1330.6
330.6328.8327.5
0.22.45.57.28.1
10.313.214.616.119.324.628.430.730.430.0
29.729.629.930.930.931.131.332.533.835.7
37.339.544.750.056.261.667.073.682.092.0
101.6106.2109.9121.4129.1135.8143.1152.4155.4157.3
160.0162.7
158.4158.8159.3160.0
161.0163.2162.2162.7
163.7163.6164.4
27.728.227.125.825.526.530.634.137.340.0
44.749.154.961.569.378.086.894.6
105.5119.4
132.3148.5166.9188.2209.8231.0249.3267.9290.1312.0
333.9371.1430.9497.7547.3595.0669.0784.6913.9
1,042.7
1,137.81,220.61,277.81,431.91,644.71,875.32,177.82,482.92,743.13,004.1
3,195.83,299.1
3,063.13,114.63,162.63,195.8
3,225.62,261.82,285.93,299.1
2,345.83,373.23,389.3
15.115.414.513.713.714.316.918.920.822.6
26.328.933.238.043.649.355.160.467.677.0
85.595.5
107.1120.5134.1147.4156.9167.4180.4193.0
200.2220.7253.5291.7319.4354.3412.8501.0600.2697.6
769.9832.2862.2949.6
1,068.61,213.71,398.31,579.41,794.01,995.1
2,173.72,284.6
2,050.72,100.12,142.12,173.7
2,196.02,225.72,264.02,284.6
2,336.92,378.32,408.9
1 Includes FHA insured multifamily properties, not shown separately.2 Derived figures. Total includes multifamily and commercial properties, not shown separately.
Source-. Board of Governors of the Federal Reserve System, based cr> data from various Government and private organizations.
432
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-72.—Mortgage debt outstanding by holder, 1940-92
[Billions of dollars]
End of yearor quarter Total
36.537.636.735.334.735.541.848.956.262.772.882.391.4
101.3113.7129.9144.5156.5171.8190.8207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6473.7524.2597.4672.6732.5791.9878.6
1,010.31,163.01,328.41,460.41,566.71,637.91,825.42,051.92,309.52,644.83,001.83,288.13,575.03,797.73,919.53,642.13,700.93,757.83,797.73,834.93,891.23,904.43,919.53,966.83,992.94,008.6
Major financial institutions
Total
19.520.720.720.220.221.026.031.837.842.951.759.566.975.185.799.3
111.2119.7131.5145.5157.6172.6192.5217.1241.0264.6280.8298.8319.9339.1355.9394.2450.0505.4542.6581.2647.5745.2848.2938.2996.8
1,040.51,021.31,108.21,245.91,361.51,474.31,665.31,831.51,931.51,914.31,846.91,939.01,940.41,933.31,914.31,902.31,898.51,860.71,846.91,826.01,806.11,794.5
Savingsinstitu-tions '
9.09.49.29.09.19.6
11.513.816.118.321.925.529.834.941.148.955.561.268.978.187.098.0
111.1127.2141.9154.9161.8172.3184.3196.4208.3236.2273.7305.0324.2355.8404.6469.4528.0574.6603.1618.5578.1626.7709.7760.5778.0860.5924.6910.3801.6705.4891.9860.9836.0801.6776.5755.4719.7705.4682.3659.6648.1
Commer-cial
banks2
4.64.94.74.54.44.87.29.4
10.911.613.714.715.916.918.621.022.723.325.528.128.830.434.539.444.049.754.459.065.770.773.382.599.3
119.1132.1136.2151.3179.0214.0245.2262.7284.2301.3330.5379.5429.2502.5592.4674.0767.1844.8876.3786.8814.6831.2844.8856.8871.4870.9876.3880.4884.6886.5
Lifeinsur-ancecom-
panies
6.06.46.76.76.76.67.28.7
10.812.916.119.321.323.326.029.433.035.237.139.241.844.246.950.555.260.064.667.570.072.074.475.576.981.486.289.291.696.8
106.2118.4131.1137.7142.0151.0156.7171.8193.8212.4232.9254.2267.9265.3260.3264.9266.1267.9269.0271.7270.1265.3263.3261.9259.9
Other holders
Federaland
relatedagen-cies3
4.94.74.33.63.02.42.01.81.82.32.83.54.14.64.85.36.27.78.0
10.211.512.212.611.812.213.517.520.925.131.138.346.454.664.882.2
101.1116.7140.5170.6216.0256.8289.4355.4433.4491.1582.0735.4863.1945.9
1,079.01,270.61,439.31,125.11,172.01,221.21,270.61,314.51,365.21,405.41,439.31,476.41,516.31,539.9
Individ-uals andothers4
12.012.211.711.511.512.113.815.316.617.518.419.320.421.723.225.327.129.132.335.138.443.146.349.552.755.258.261.466.171.479.483.692.8
102.4107.7109.6114.4124.6144.3174.3206.8236.8261.2283.7314.9366.0435.0473.4510.7564.4612.8633.2578.0588.5603.3612.8618.1627.6638.3633.2664.4670.5674.3
19401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911990: I
II
IV.1991: I...
IV1992:1
1 Includes savings banks and savings and loan associations. Data reported by Federal Savings and Loan Insurance Corporation-insuredinstitutions include loans in process for 1987 and exclude loans in process beginning 1988.
2 Includes loans held by nondeposit trust companies, but not by bank trust departments.3 Includes Government National Mortgage Association (GNMA), Federal Housing Administration, Veterans Administration, Farmers Home
Administration (FmHA), and in earlier years Reconstruction Finance Corporation, Homeowners Loan Corporation, Federal Farm MortgageCorporation, and Public Housing Administration. Also includes U.S.-sponsored agencies such as Federal National Mortgage Association(FNMA), Federal Land Banks, Federal Home Loan Mortgage Corporation (FHLMC), and mortgage pass-through securities issued orguaranteed by GNMA, FHLMC, FNMA or FmHA. Other U.S. agencies (amounts small or current separate data not readily available)included with "individuals and others."
4 Includes private mortgage pools.
Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
433Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-73.—Consumer credit outstanding, 1950-92
[Amount outstanding (end of month); millions of dollars, seasonally adjusted]
Year and monthTotal
consumercredit
Installment credit1
Total Automobile Revolving 2 Other 3Nomnstallment
credit4
December:1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985198619871988 51989
19901991
1991:JanFebMar
June..
July...Aug...Sept..Oct....Nov...Dec...
1992:JanFebMarAprMayJune
JulyAugSeptOctNov "....
23,29524,62429,76633,76935,02741,88545,50348,13248,35655,878
60,03562,34068,23176,60685,98995,948101,839106,716117,231126,928
131,600147,058166,009190,601199,365204,963228,162263,808308,272347,507
350,269366,869383,132431,170511,315591,291647,982680,036729,121777,608
793,978780,566
792,534792,338792,268792,701792,032789,996
788,095785,414783,993781,129781,242780,566
783,252784,641782,485779,418778,969779,122
778,276777,861779,464777,825
15,16615,85920,12123,87024,47029,80932,66034,91434,73640,421
44,33545,43850,37557,05664,67472,81478,16281,78390,11299,381
103,905116,434131,258152,910162,203167,043187,782221,475261,976296,483
298,154311,259325,805368,966442,602517,659572,006608,675662,553716,825
735,338727,799
732,760732,436733,182733,227731,724730,109
728,823727,311727,449729,225727.960727,799
728,618728,395727,404723,821722,928722,919
721,820720,664722,104722,668723,890
6,0355,9817,6519,7029,75513,48514,49915,49314,26716,641
18,10817,65620,00122,89125,86529,37831,02431,13634,35236,946
36,34840,52247,83553,74054,24156,98966,82180,94898,739112,475
111,991119,008125,945143,560173,564210,238247,772266,295285,364292,002
284,993263,003
283,318281,120279,277276,963273,389270,789
268,897266,620264,621264,420262,383263,003
263,134261,659262,125260,376259,834257,339
257,743256,944257,384257,101257,809
2,0223,563
4,9008,2529,39111,31813,23214,50716,59536,68945,20253,357
55,11161,07066,45479,088100,280121,758135,825153,064174,269199,308
222,950242,785
222,262225,320228,749230,437232,297233,399
234,654236,294238,987241,436242,573242,785
244,288245,974245,259245,905246,220247,418
247,332248,043250,017250,485250,585
9,1319,87812,47014,16814,71516,32418,16119,42120,46923,780
26,22727,78230,37434,16538,80943,43647,13850,64753,73858,872
62,65767,66074,03287,85294,73095,547104,366103,838118,035130,651
131,053131,182133,406146,318168,758185,664188,408189,316202,921225,515
227,395222,012
227,181225,996225,156225,827226,038225,922
225,273224,396223,842223,369223,004222,012
221,196220,762220,020217,541216,874218,162
216,744215,677214,703215,082215,496
8,1298,7659,6459,89910,55712,07612,84313,21813,62015,457
15,70016,90217,85619,55021,31523,13423,67724,93327,11927,547
27,69530,62434,75137,69137,16237,92040,38042,33346,29651,024
52,11555,61057,32762,20468,71373,63175,97671,36266,56860,783
58,64052,767
59,77459,90359,08559,47560,30959,887
59,27258,10356,54351,90453,28352,767
54,63456,24755,08055,59756,04156,203
56,45657,19757,36155,157
1 Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments. Credit secured by real estate is generally excluded.
2 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Excludes 30-day charge credit held by travel and entertainment companies. Prior to 1968, included in "other," except gasoline companies included innoninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in "other." Also beginning1977, some retail credit was reclassified from commercial into consumer credit.
3 Includes mobile home loans and all other installment loans not included in autombile or revolving credit, such as loans foreducation, boats, trailers, or vacations. These loans may be secured or unsecured.
4 Noninstallment credit is credit scheduled to be repaid in a lump sum, including single-payment loans, charge accounts, and servicecredit. Because of inconsistencies in the data and infrequent benchmarking, series is no longer published by the Federal Reserve Boardon a regular basis. Data are shown here as a general indication of trends.
5 Data newly available in January 1989 result in breaks in many series between December 1988 and subsequent months.
Source: Board of Governors of the Federal Reserve System.
434
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNMENT FINANCE
TABLE B-74.—Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years, 1929-93
[Billions of dollars; fiscal years]
or period
1929... .19331939194019411942.194319441945194619471948194919501951195219531954195519551957195819591960196119621963.1964196519661967196819691970197119721973197419751976..,.
i ronsiiionquarter...
197719781979198019811982198319841985198619871988198919901991199219932
Total
Re-ceipts
39206.36.58.7
14.624.043.745.239.338.541.639.439.451.666.269.669.765.574.680.079.679.292.594.499.7
106.6112.6116.8130.8148 8153.0186.9192.8187.1207.3230.8263.2279.1298.1
81.2355.6399.6463.3517.1599.3617.8600.6666.5734.1769.1854.1909.0990.7
1031 31,054.31,091.61,147.6
Outlays
31469.19.5
13.735.178.691.392.755.234.529.838.842.645.567.776.170.968.470.676.682.492.192.297.7
106.8111.3118.5118.2134.5157 5178.1183.6195.6210.2230.7245.7269.4332.3371.8
96.0409.2458.7503.5590.9678.2745.8808.4851.8946.4990.3
1,003.91,064.11,143.21252 71,323.81,381.81,474.9
Qi irnli ir
ourpiusordeficit
07- 2 6-2 .8-2 .9- 4 9
-20.5-54.6-47.6-47.6-15.9
4.011.8
.6_ -5 1
£i- 1 . 5- 6 . 5-1 .2- 3 . 0
3.93.4
- 2 . 8-12.8
.3- 3 . 3- 7 . 1- 4 . 8-5 .9-1 .4-3 .7- 8 6
-25.23.2
- 2 . 8-23.0-23.4-14.9
- 6 . 1-53.2-73.7
-14.7-53.7-59.2-40.2-73.8-79.0
-128.0-207.8-185.4-212.3-221.2-149.8-155.2-152.5- 2 2 1 4-269.5-290.2-327.3
Re-ceipts
5.8fi P8.Q
13722.942.543.838.137.139.937.737.348.562.665.565.160.468.273.271.671.0
81.982.387.492.496.2
100.1111.7124 4128.1157.9159.3151.3167.4184.7209.3216.6231.7
63.2278.7314.2365.3403.9469.1474.3453.2500.4547.9568.9640.7667.5727.0749 7760.4789.2828.2
On-budge
Outlays
9.29.5
13.635.178.591.232,655.034.229.438.442.044.266.073.857.964.565.770.674.983.181.386.093.396.4
102.8101.7114.8137 0155.8158.4168.0177.3193.8200.1217.3271.9302.2
76.6328.5369.1403.5476.6543.1594.4661.3686.0769.6806.8810.1861.4932.3
1027 61,082.11,129.51,208.1
t
Qi «rr\l i if
ourpiusordeficit
-3 .4
- 3 . 5-5 ,6
-21.3-55.6-48.7-43.7-17.0
2.910.5- . 7
-4 .74.3
-3 .4- 8 . 3-2 .8- 4 . 1
2.52.6
- 3 . 3-12.1
- 3 i 8- 5 . 9-4 .0- 6 . 5-1 .6-3 .1
- 1 2 6-27.7
- . 5-8 .7
-26.1-26.4-15.4
- 8 . 0-55.3-70.5
-13.3-49.8-54.9-38.2-72.7-74.0
-120.1-208.0-185.7-221.7-238.0-169.3-194.0-205.2- 2 7 8 0-321.7-340.3-379.9
Re-ceipts
0.5.67
.9i iL31.31.2l.b1.61.72.13.13.64.14.65.16.46.88.08.3
10.612.112.314.216.416.719.124 424.929.033.535.839.946.153.962.566.4
18.076.885.498.0
113.2130.2143.5147.3166.1186.2200.2213.4
! 241.5263.72817293.9302.4319.4
Off-budge
Outlays
-0 i0- . 0
.0
.1_]
II2'.3A.4.5
1.31.72.32.94.05.06.07.59.0
10.911.713.515.015.716.519.720 422.325.227.632.836.945.652.160.469.6
19.480.789.7
100.0114.3135.2151.4147.1165.8176.8183.5193.8202.7210.92251241.7252.3266.8
t
Surplusordeficit
|
0.5 j
•? '
8 i
I.'O !1.2 !1.2 !1.0 i1.2 |1.2 11.31.61.81.91.81.71.11.5.8.5
- . 7- . 2
.4- 1 . 3
- . 8.62
— 6402.63.75.93.03.1
.51.82.0
-3 .2
-1 .4-3 .9- 4 . 3- 2 . 0- 1 . 1-5 .0-7 .9
.2
.39.4
16.719.638.852.856.652.250.152.6
Gross Federal debt
(end of
Total
1 16 91 22 5
48.250.757.579.2
142.6204.1260.1271.0257.1252.0252.6256.9255.3259.1266.0270.8274.4272.7272.3279.7287.5290.5292.6302.9310.3316.1322.3328.5340 4368.7365.8380.9408.2435.9466.3483.9541.9629.0
643.6706.4776.6828.9908.5994.3
1,136.81,371.21,564.11,817.02,120.12,345.62,600.82,867.53 206.33,599.04,002.74,410.5
peiiuu;
Held bythe
public
41.4
42.848.267.8
127.8184.8235.2 ,241.9224.3216.3214.3219.0214.3214.8218.4224.5226.6222.2219.3226.3234.7
236.8238.4248.0254.0256.8260.8263.7266 6289.5278.1283.2303.0322.4340.9343.7394.7477.4
495.5549.1607.1639.8709.3784.8919.2
1,131.01,300.01,499.41,736.21,888.12,050.32,189.32,410.42,687.92,998.63,309.7
Adden-
dum:Grossdomes-
ticproduct
87.81 95.4; 112.5i 141.8i 175.4i 201.7' 212.0I 212.5i 222.9! 246.7
262.7265.8
I 313.5I 340.51 363.8
368.0384.7416.3438.3
! 448.1480.2504.6517.0555.2584.5625.3671.0735.4793 3847.2925.7985.4
1,050.91,147.81,274.01,403.61,509.81,684.2
445.01,917.22,155.02,429.52,644.12,964.43,122.23,316.53,695.03,967.74,219.04,452.44,808.45,173.35,467.15,632.65,868.66,164.4
1 Not strictly comparable with later data.2 Estimates.Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal
year is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.See Budget Baselines, Historical Data, and Alternatives for the Future, January 1993, for additional information.Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and
Budget.
435Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Federal receipts, outlays, and debt, fiscal years 1981-93
[Millions of dollars; fiscal years]
DescriptionActual
1981 1982 1983 1984 1985 1986 1987
RECEIPTS AND OUTLAYS:Total receiptsTotal outlays
Total surplus or deficit (-]...
On-budget receipts
On-budget outlays
On-budget surplus or deficit ( - )
Off-budget receiptsOff-budget outlays
Off-budget surplus or deficit ( - )
OUTSTANDING DEBT, END OF PERIOD:Gross Federal debt
Held by Government accountsHeld by the public
Federal Reserve System..Other
599,272678,249
-78,976
469,097543,053
-73,956
130,176135,196
-5,020
994,298
209,507784,791
124,466660,325
617,766745,755
-127,989
474,299594,351
-120,052
143,467151,404
-7,937
1,136,798
600,562808,380
-207,818
453,242661,272
- 208,030
147,320147,108
212
1,371,164
666,457851,846
-185,388
500,382686,032
-185,650
166,075165,813
262
1,564,110
734,057946,391
-212,334
547,886769,584
-221,698
186,171176,807
9,363
1,816,974
769,091990,336
-221,245
568,862806,838
-237,976
200,228183,498
16,731
2,120,082
217,560919,238
134,497784,741
240,1141,131,049
155,527975,522
264,1591,299,951
155,1221,144,829
317,6121,499,362
169,8061,329,556
383,9191,736,163
190,8551,545,308
RECEIPTS: ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions
On-budgetOff-budget.
Excise taxesEstate and gift taxesCustoms duties and feesMiscellaneous receipts:
Deposits of earnings by FederalReserve System
All other
OUTLAYS: ON-BUDGET AND OFF-BUDGET
National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing credit
On-budgetOff-budget
TransportationCommunity and regional developmentEducation, training, employment, and
social servicesHealthMedicareIncome securitySocial security
On-budgetOff-budget
Veterans benefits and services-Administration of justiceGeneral governmentNet interest
On-budgetOff-budget
Undistributed offsetting receipts..
On-budget....Off-budget...
599,272
285,91761,137182,720
52,545130,176
40,8396,7878,083
12,834956
678,249
157,51313,1046,46915,16613,56811,3238,206
8,206
23,37910,568
33,70926,86639,14999,723139,584
670138,914
22,9914,76911,42968,774
71,062-2,288
-28,041
-26,611-1,430
617,766
297,74449,207
201,498
58,031143,467
36,3117,9918,854
15,186975
745,755
185,30912,3007,20013,52712,99815,9446,256
6,256
600,562
288,93837,022
208,994
61,674147,320
35,3006,0538,655
14,4921,108
808,380
209,90311,8487,9359,35312,67222,9016,681
6,681
666,457
298,41556,893
239,376
73,301166,075
37,3616,01011,370
15,6841,347
851,846
227,41315,8768,3177,08612,59313,6136,917
6,917
734,057
334,53161,331
265,163
78,992186,171
35,9926,42212,079
17,0591,480
946,391
252,74816,1768,6275,68513,35725,5654,229
4,229
769,091
348,95963,143
283,901
83,673200,228
32,9196,95813,327
18,3741,510
990,336
273,37514,1528,9764,73513,63931,4494,890
4,890
20,6258,347
27,02927,44546,567107,717155,964
844155,120
23,9584,71210,91485,044
87,114-2,071
-26,099
-24,453-1,646
21,3347,560
26,60628,64152,588122,598170,724
19,993150,731
24,8465,10511,23589,828
91,673-1,845
-33,976
-32,198-1,778
23,6697,673
27,57930,41757,540112,668178,223
7,056171,167
25,6145,66311,817
111,123
114,432-3,310
-31,957
-29,913-2,044
25,8387,680
29,34233,54265,822128,200188,623
5,189183,434
26,2926,27011,588
129,504
133,622-4,118
-32,698
-30,189-2,509
28,1177,233
30,58535,93670,164119,796198,757
8,072190,684
26,3566,57212,564
136,047
140,377-4,329
-33,007
-30,150-2,857
854,1431,003,911
-149,769
640,741810,079
-169,339
213,402193,832
19,570
2,345,578
457,4441,888,134
212,0401,676,094
854,143
392,55783,926
303,318
89,916213,402
32,4577,49315,085
16,8172,490
1,003,911
281,99911,6499,2164,115
13,36326,606
6,182
6,182
26,2225,051
29,72439,96775,120
123,250207,353
4,930202,422
26,7827,5537,565
138,652
143,942-5,290
-36,455
-33,155-3,300
Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.
See next page for continuation of table.
436Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Federal receipts, outlays, and debt, fiscal years 1981-93—Continued
[Millions of dollars; fiscal years]
DescriptionActual
1988 1989 1990 1991 1992
Estimates
1993
RECEIPTS AND OUTLAYS:Total receiptsTotal outlays
Total surplus or deficit ( - ) . . . .
On-budget receiptsOn-budget outlays
On-budget surplus or deficit ( - ) . .
Off-budget receiptsOff-budget outlays
Off-budget surplus or deficit ( — ) . ,
OUTSTANDING DEBT, END OF PERIOD:Gross Federal debt
Held by Government accounts..Held by the public
Federal Reserve System.,Other
908,9541,064,140
-155,187
667,463861,449
-193,986
241,491202,691
38,800
2,600,760
550,5072,050,252
229,2181,821,034
990,6911,143,172
-152,481
727,026932,261
-205,235
263,666210,911
52,754
2,867,537
678,2102,189,327
220,0881,969,239
1,031,3081,252,691
-221,384
749,6521,027,626
-277,974
281,656225,065
56,590
3,206,347
795,9902,410,357
234,4102,175,947
1,054,2641,323,785
-269,521
760,3801,082,098
-321,719
293,885241,687
52,198
3,598,993
911,0602,687,933
258,5912,429,342
1,091,6311,381,791
-290,160
789,2051,129,475
-340,270
302,426252,316
50,110
4,002,669
1,004,0392,998,630
296,3972,702,234
1,147,5881,474,935
-327,347
828,1831,208,120
-379,937
319,405266,815
52,590
4,410,475
1,100,7583,309,717
RECEIPTS: ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions..
On-budgetOff-budget....
Excise taxesEstate and gift taxesCustoms duties and feesMiscellaneous receipts:
Deposits of earnings by FederalReserve System
All other
OUTLAYS: ON-BUDGET AND OFF-BUDGET..
National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing credit
On-budgetOff-budget
908,954
401,18194,508
334,335
92,845241,491
35,2277,594
16,198
17,1632,747
1,064,140
290,36110,47110,8412,29714,60617,21018,815
18,815
TransportationCommunity and regional developmentEducation, training, employment, and social servicesHealthMedicareIncome securitySocial security
On-budgetOff-budget....
Veterans benefits and servicesAdministration of justiceGeneral governmentNet interest
On-budgetOff-budget
Undistributed offsetting receipts..
On-budgetOff-budget
27,2725,294
31,93844,48778,878
129,332219,341
4,852214,489
29,4289,2369,464
151,838
159,253-7,416
-36,967
-32,585-4,382
990,691
445,690103,291359,416
95,751263,666
34,3868,74516,334
19,6043,225
1,143,172
303,5599,57312,8382,70616,18216,91929,211
29,520-310
27,6085,362
36,67448,39084,964136,031232,542
5,069227,473
30,0669,4749,017
169,266
180,661-11,395
-37,212
-32,354-4,858
1,031,308
466,88493,507
380,047
98,392281,656
35,34511,50016,707
24,3192,997
1,252,691
299,33113,76414,4443,34117,06711,95867,142
65,5161,626
29,4858,498
38,75557,71698,102147,019248,623
3,625244,998
29,1129,99510,734
184,221
200,212-15,991
36,615
-31,048-5,567
1,054,264
467,82798,086
396,016
102,131293,885
42,40211,13815,949
19,1583,688
1,323,785
273,29215,85116,1112,43618,55215,18375,639
74,3211,317
31,0996,811
43,35471,183104,489170,301269,015
2,619266,395
31,34912,27611,661
194,541
214,763-20,222
-39,356
-33,553-5,804
1,091,631
476,465100,270413,689
111,263302,426
45,56911,14317,359
22,9204,215
1,381,791
298,36116,10616,4094,50920,01714,9979,514
8,877636
33,3377,411
45,24889,570119,024198,073287,545
6,127281,418
34,13314,45012,939
199,429
223,066-23,637
-39,280
-33,179-6,101
1,147,588
510,388105,501435,831
116,426319,405
47,53912,59418,176
13,0904,469
1,474,935
289,29918,70417,1424,807
21,46221,53322,141
20,5141,627
36,38010,08652,292
104,979132,839207,433304,747
6,023298,724
35,57515,22914,728
202,771
229,793-27,022
-37,213
-30,698-6,515
See Budget Baselines, Historical Data, and Alternatives for the Future, January 1993, for additional information.
Sources.- Department of the Treasury and Office of Management and Budget.
437
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-76.—Federal budget receipts, outlays, surplus or deficit, and debt, as percentages of gross domestic
product, 1934-93
[Percent; fiscal years]
Fiscal yearor period
193419351936193719381939194019411942194319441945.19461947194819491950195119521953195419551956195719581959..19601961196219631964 . . . .196519661967196819691970197119721973197419751976Transition quarter . . .19771978.. .19791980... .1981198219831984..1985198619871988.19891990199119921993 J
Receipts
4.95 35 1627.77.26977
10.313.721.721.318 517.316.815.014 816 519.419.118.917 017.918.317.816.518.318.318.018.218.017 417 818.818.120.219.617.818.118.118.818.517.718.318.518.519 119 620.219.818.118 018.518.219.218 919.218.918 718.618.6
Outlays
Total
10.89 3
10 6877.8
10.49.9
12 124.844.845.343.726.015.512.114.816.014 519.920.919.317 817.017.518.419.218.318.919.219.019.017 618 319.821.019.819.920.020.119.319.222.022.121.621.321.320 722 322.923.924.423123.923.522.522 122.122.923 523.523.9
Nationaldefense
1.75.7
18.138.039.239.120.15.73.75.05.275
13.514.513.411.110.210.410.410.29.59.69.49.18.875799.09.78.98.37.56.96.05.75.75.35.05.14.848515.35.96.3626.46.56.3605.95.5495.14.7
Surplus ordeficit ( )
-5 .9- 4 . 1- 5 6
25.1
-3 .2- 3 . 1-4 .4
-14 .5-31.1-23.6-22.4
- 7 . 51.84.8
.2-1 .2
1.9_ 4
- 1 . 8- . 3- . 8
.9
.8- . 6
-2 .7.1
- . 6- 1 . 3- . 8- . 9_ .2- .5
- 1 . 1
1 '
1 1 1 ' 1 1 1 1 1
1
- 2 . 8-2 .7- 4 . 1- 6 . 3- 5 0-5 .4-5 .2-3 .4- 3 . 2
2.9-4 .0- 4 . 8
4.9- 5 . 3
Gross Federal debt (period)
Total
53.151.155.981.3
101.2122.7127.5115.4102.296.296.681.476.173.173.671.365.562.162.459.957.656.654.653.150.548.044.742.943.539.538.738.838.036.634.535.937.336.236.836.034.134.433.536.441.342.345.850.352.754.155.458.663.968.271.5
end of
Held by public
44.842.947.872.891.6
110.9113.8100.687.781.682.468.463.160.061.058.953.450.050.548.946.946.144.743.541.138.935.933.634.230.028.728.828.126.824.526.128.327.828.628.226.326.826.529.434.135.237.841.242.442.642.344.1All51.153.7
1 Estimates.Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the
fiscal year is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 19/6 is a separatefiscal period known as the transition quarter.
See Budget Baselines, Historical Data, and Alternatives for the Future, January 1993, for additional information.Sources: Department of the Treasury and Office of Management and Budget.
438
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-77.—Federal and State and local government receipts and expenditures, national income and
product accounts, 7939-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988:IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
Total government
Receipts
128.8
138.8144.1155.8167.5172.9
187.0210.7226.4260.9294.0
299.8318.9364.2408.5450.7
465.8532.6598.4673.2754.7
825.7941.9960.5
1,016.41,123.6
1,217.01,290.81,405.21,492.41,622.6
1,704.41,746.8
965.91,043.71,147.11,243.81,335.41,445.71,535.8
1,597.91,625.41,622.81,644.1
1,671.71,699.51,724.11,722.3
1,724.31,734.71,757.81,770.4
1,796.01,809.61,821.5
Expendi-tures
131.9
135.2147.1158.7165.9174.5
185.8211.6240.2265.5284.0
311.2338.1368.1401.6455.2
530.6570.9615.2670.3745.3
861.0972.3
1,069.11,156.21,232.4
1,342.21,437.51,516.91,590.71,700.1
1,840.51,940.1
1,122.81,180.01,274.91,374.71,461.61,561.51,630.5
1,664.01,686.91,705.11,744.3
1,803.41,822.61,839.41,896.8
1,859.61,930.41,963.32,007.0
2,068.62,094.92,116.6
Surplus ordeficit
(-),nationalincome
andproduct
accounts
- 3 . 1
3.6-3 .0-2 .9
1.6-1 .6
1.2-1 .0
-13.7- 4 . 610.0
-11.5-19.2
-3 .96.9
- 4 . 5
-64 .8-38 .3-16.8
2.99.4
-35.3-30.3
-108.6-139.8-108.8
-125.3-146.8-111.7
-98.3-77 .5
-136.1-193.3
-156.9-136.3-127.8-130.9-126.2-115.8
-94.7
-66.1-61.5-82 .3
-100.2
-131.7-123.1-115.3-174.4
-135.3-195.6-205.6-236.6
-272.6-285.2-295.2
Federal Government
Receipts
90.6
97.099.0
107.2115.5116.2
125.8143.5152.6176.8199.6
195.2202.6232.0263.7294.0
294.8339.9384.0441.2504.7
553.0639.0635.4660.0725.8
788.6827.2913.8972.3
1,059.3
1,107.41,122.2
632.3671.1739.8803.6856.8943.5
1,000.6
1,050.91,064.51,053.61,068.3
1,086.71,109.61,119.91,113.3
1,114.61,117.31,127.71,129.4
1,143.31,149.81,155.4
Expendi-tures
93.2
93.4101.7110.6114.4118.8
124.6144.9165.2181.5191.0
208.5224.3249.3270.3305.6
364.2392.7426.4469.3520.3
613.1697.8770.9840.0892.7
969.91,028.21,065.61,109.01,181.6
1,273.61,332.7
815.7855.7926.6990.8
1,034.31,096.31,135.5
1,160.81,174.21,181.51,209.8
1,254.51,266.51,265.51,307.9
1,264.41,329.41,348.71,388.1
1,432.51,452.71,459.8
Surplus ordeficit
(-).nationalincome
andproduct
accounts
- 2 . 6
3.5-2 .6-3 .4
1.1-2 .6
1.3- 1 . 4
-12.7- 4 . 7
8.5
-13.3-21.7-17 .3
-6 .6-11.6
-69.4-52.9-42.4-28.1-15.7
-60.1-58.8
-135.5-180.1-166.9
-181.4-201.0-151.8-136.6-122.3
-166.2-210.4
-183.4-184.6-186.8-187.2-177.5-152.7-134.9
-110.0-109.7-128.0-141.5
-167.8-156.9-145.6-194.6
-149.9-212.2-221.0-258.7
-289.2-302.9-304.4
State and local government
Receipts
45.0
48.352.456.661.167.1
72.381.589.8
102.7114.8
129.0145.3169.7185.3200.6
225.6253.9281.9309.3330.6
361.4390.8409.0443.4492.2
528.7571.2594.3631.3681.5
729.3777.9
417.9459.5505.1544.8582.4605.1648.2
662.8678.0687.4697.7
713.1722.1735.4746.6
754.0769.3783.5804.6
817.8834.0840.0
Expendi-tures
45.5
48.352.756.160.666.1
72.381.190.9
102.6113.3
127.2142.8156.3171.9193.5
221.0239.3256.3278.2305.4
336.6362.3382.1403.2434.1
472.6517.0554.2593.0636.7
699.2760.7
391.4411.1446.1488.4531.1568.1607.9
618.9629.8641.7656.4
677.0688.3705.0726.4
739.4752.8768.1782.5
801.2816.3830.8
Surplus ordeficit
(-),nationalincome
andproduct
accounts
- 0 . 5
.0- . 4
.5
.41.0
.0
.5-1 .1
.11.5
1.82.5
13.413.47.1
4.614.625.631.125.1
24.828.526.940.358.1
56.154.340.138.444.8
30.117.1
26.548.359.056.351.237.040.2
43.948.245.741.3
36.133.830.320.2
14.616.515.422.0
16.617.79.2
Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local receipts. Totalgovernment receipts and expenditures have been adjusted to eliminate this duplication.
Source: Department of Commerce, Bureau of Economic Analysis.
439
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-78.—Federal and State and local government receipts and expenditures, national income and
product accounts, by major type, 1939-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911982:1V1983: IV1984: IV1985: IV1986: IV1987: IV1988.1V1989:1
IIIllIV
1990:1IIIllIV ,
1991:1IIIllIV
1992:1IIIll
Receipts
Total
128.8138.8144.1155.8167.5172.9187.0210.7226.4260.9294.0299.8318.9364 2408.5450.7465 8532.6598.4673 2754.7825.7941.9960.5
1,016.41,123.61,217.01,290.81,405.21,492.41,622.61,704.41,746.8
965.91,043.71,147.11,243.81,335.41,445.71,535.81,597.91,625.41,622.81,644.11,671.71,699.51,724.11,722.31,724.31,734.71,757.81,770.41,796.01,809.61,821.5
Per-sonaltaxand
nontaxre-
ceipts
44.548 750.354.858.056.061.971077.992.1
109.9109.0108.7132.0140.6159.1156.4182.3210.02401280.2312.4360.2371.4368.8395.1436.8459.0512.5527.7593.3621.3618.7372.1371.6413.4448.8478.5528.6542.0575.2599.1593.8605.1609.4624.6627.3623.8616.8617.2618.6622.3619.6617.1628.8
Corpo-rate
profitstax ac-cruals
23.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083 588.084.881.163.177.294.096.5
106.5127.1137.0141.3136.7124.0
58.782.283.897.6
116.6135.2146.2154 8143.7132.6134.2132.4137.6143.0133.7121.3122.9127.0125.0136.4144.1131.8
In-directbusi-nesstaxandnon-taxac-
cruals
41.945.548.151.754.758.862.765.470.479.086.694.3
103.6111.4121.0129.3140.0151.6165.5177.8188.7212.0249.3256.4280.1309.5329.9345.5365.0385.3414.7444 2475.2262.3291.7317.7335.1351.6372.3394.24017411.6421.0424.4436.0437.7447.3455.7464.7468.2480.0487.9493.8497.6506.4
Contri-butions
forsocialinsur-ance
18.821.922.925.428 530.131.640.645.550.457.962.268.979.097.6
110.5118.5134.5149.8171.8197.8216.6251.3269 6290.2325.0353.8379.8400.7442.3473.2502 3528.8272.8298.3332.2362.3388.7409.6453.5466.3471.0475.3480.4493.9499.6506.5509.1521.5526.5532.1535.2546.2550.8554.4
Total»
131.9135.2147.1158.7165.9174.5185.8211.6240.2265.5284.0311.2338.1368.1401.6455.2530.6570.9615.2670.3745.3861.0972.3
1 069 1U56.21,232.41,342 21,437.51,516.91,590.71,700.11 840 5l!940.11,122.81,180.01,274.91,374.71,461.61,561.51,630.51,664.01,686.91,705.11,744.31,803.41,822.61,839.41,896.81,859.61,930.41,963.32,007.02,068.62,094.92,116.6
Pur-chases
99.099.8
107.0116.8122.3128.3136.3155.9175.6191.5201.8212.7224.3241.5257.7288.3321.4341.3368.0403.6448.5507.1561.1607 6652.3700.8772.3833.0881.5918.7975.2
1 043 2l!090.5
631.6657.6727.0799.2849.7901.4937.6950.4970.2985.6994.5
1,024.71,034.31,042.41,071.31,087.51,090.81,093.31,090.31,103.11,109.11,124.2
Trans-fer
pay-ments
27.529 333.634.736 638.141.145 854.562.669.383.899.4
110.9126.6150.5189.2206.5220.9238.6266.9317.6360.7402 7433.4447.2479.5509.4531.8566.2615.1678 0720.0428.1439.1456.2488.3518.6542.6578.6595.8605.0620.6639.0660.1670.6680.4700.8646.4708.0747.8777.8830.6848.9861.3
Expenditures
Net interest paid
Total
6.36.96.46.97.47.98.18.58.9
10.311.512.412.512 915.216.318.522.824.426.528.733.448.155 561.879.188.390.695.4
101.8112.4124 2138.5
56.667.786.789.290.5
101.3105.0110.2113.9110.9114.8117.8124.0131.3123.8132.7139.2138.9143.5141.4143.2144.5
Inter-estpaid
10.19.9
10.811.612.513.214.515.718.119.822.323.124 829.633.637.743.647.956.868.683.9
110.2130 6146.6174.6195.9207.9215.9229.9251.0269.9284.6135.6156.1186.5201.6208.7222.9236.0244.5250.9252.6256.0260.2266.5274.5278.7280.6284.5285.4288.0285.7288.1287.9
Less.-Inter-
est re-ceived
bygovern-ment2
3.33.53.94.24.65.16.06.87.78.39.9
10.611.914.417.319.220.923.530.339.950.562.175.084.895.6
107.6117.3120.5128.1138.6145.7146.179.088.499.8
112.3118.2121.6131.0134.3137.1141.8141.2142.4142.4143.2154.8148.0145.3146.5144.5144.3144.9143.4
Less:Divi-
dendsre-
ceivedby
govern-ment2
in".2.2.3.3.5.9.9.9
1.31.72.01.92.32.93.43.94.55.15.96.98.19.09.53.13.54.14.75.46.17.2768.08.28.58.79.09.09.39.39.59.59.69.7
10.010.1
Subsi-HiocQlcS
lesscur-rentsur-
plus ofgovern-mententer-prises
--0.98.2.3
- .3.1.3
1.41.21.21.52.62.43.42.6.4
2.61.43.3362.94.84.76.2
11.79.56.49.7
14.110.95.44.2.5
9.619.29.72.68.2
22.016.515 25.8
- 3 . 94.49.52.7
- 5 . 610.32.51.6
- 7 . 15.13.23.6
- 3 . 4
Surplusor
HofiritQcIICII
( - ) .na-
tionalincome
andprod-
uct ac-counts
- 3 . 13.6
- 3 . 0- 2 . 9
1.6- 1 . 6
1.2- 1 . 0
- 1 3 . 7- 4 . 6
10.0- 1 1 . 5- 1 9 . 2- 3 9
6.9- 4 . 5
- 6 4 . 8- 3 8 . 3- 1 6 . 8
299.4
- 3 5 . 3- 3 0 . 3
108 6- 1 3 9 . 8-108 .8- 1 2 5 . 3-146 .8-111 .7
- 9 8 . 3- 7 7 . 5
-136 .1- 1 9 3 . 3-156 .9-136 .3-127 .8-130 .9-126 .2- 1 1 5 . 8
- 9 4 . 7- 6 6 1- 6 1 . 5- 8 2 , 3
-100 .2-131 .7- 1 2 3 . 1- 1 1 5 . 3-174 .4- 1 3 5 . 3-195 .6-205 .6-236 .6-272 .6-285 .2-295 .2
Adden-dum:
Grants-in-aid
toStateandlocal
govern-ments
6.86.57.28.09.1
10.411.114.415.918.620.324.429.037 540.643.954.661.167.577 380.588.787.983.987.094.4
100.3107.6102.8111.3118.2132 3153.3
84.386.997.7
104.5103.8102.9113.01157117.1118.2121.9128.1132.2131.2137.6144.3151.9153.4163.6165.1174.1174.0
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Prior to 1968, dividends received is included in interest received.Source: Department of Commerce, Bureau of Economic Analysis.
440
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-79.—Federal Government receipts and expenditures, national income and product accounts,
1976-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Fiscal:2
1976 .1977197819791980198119821983198419851986198719881989199019911992
Calendar:19761977197819791980198119821983198419851986198719881989.199019911982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV1989: I
IIIllIV
1990: IIIIllIV
1991-1IIIllIV
1992: IIIIll
Receipts
Total
322.0375.4423.8490.5538.1623.0642.7646.4711.7777.0813.8899.1955.1
1,050.11,089.61,114.91,144.5
339.9384.0441.2504.7553.0639.0635.4660.0725.8788.6827.2913.8972.3
1,059.31,107.41,122.2
632.3671.1739.8803.6856.8943.5
1,000.61,050.91,064.51,053.61,068.31,08671,109.61,119.91,113.31,114 61,117.31,12771,129.41,143.31,149.81,155.4
Personaltax andnontax
receipts
136.5165.2185.5221.6249.1287.9308.4290.7300.4337 0353.1396.3403.8456.9473 2472.1470.1
146.6169.1193 8229.7256.2297.2302 9292.6308.0342.8357 4400.6410.1461.9482 6473.4301.6290 5323.5351.8371.7414.8420.0449.4467.3460.6470.1474.0487.2486.6482.5474 7473.1473.4472.2468.4464.2475.5
Corpo-rate
profitstax
accruals
51.759.867.475.370.469.351656.475.175 080.499 4
107.6119.2113 8104.4110.5
54.661.671474.470.365.749061.375.276.3838
103.2111.0117.11139102.545.565 467.077.091.4
1097118.5127.8119.1110.0111.3110.3114.6119.21117100 3101.6104.9103.3112.2118.3108.2
Indirectbusinesstax andnontax
accruals
24 625.027.929.936.254.351552.057.059.153.857959.662.263874.880.3
23.825.628930*139.657.349753.557.858 653.558.460.961.966*078.249.255 458.256.854.859.561.461.061.662.862.264.865.265.468.577 376.378.380.879.279.881.3
butionsfor
socialinsur-ance
109.2125.4143.0163.7182.3211.5231.2247.3279.3305.9326.5345.5384.1411.8438 7463.5483.6
115.0127.7147 11704186.8218.82338252.6284.8310.93325351.5390.4418.5444*9468.2235.9259 8291.1318.0338.8359.44007412.6416.5420.14247437.6442.7448.8450.6462 2466*3471.1473.2483.548744904
Expenditures
Total1
379 0417.1458.0505.4587.1679.9747.6829.2875.3952.9
1,017.61,051 01,098.51,164.51249 51,310.91,433.3
3927426.44693520*3613.1697 8770*9840.08927969 9
1,02821,065.61,109.01,181.61 *273.61,332.7
815.7855 7926.6990.8
1,034.31,096.31,135.51,160.81,174.21,181.51,209.81,254.51,266.51,265.51,307.91,264.41*32941,34871,388.11,432.51,45271,459.8
Purchases
Total
132.6144.7158.1174.5201.0232.9259.5289.8302.2335 2363.7379.9386.3399.4417 6447.1446.5
135.8147.91622179*3209.1240 8266*6292.0310.9344 3367.8384.9387.0401.64264447.3281.4289 7324.7356.9373.1392.5392.0392.3401.6407.3405.1420.34244422.6438.3451.3449*9447.2440.8445.0444.8455.2
Na-tional
de-fense
91599.2
106.3117.7136.9160.9187.3210.2228.22517274.3287 6295.1299.5308 9326.6314.9
93.4100.91089121*9142.7167 5193*8214.4233.1258 62767292.1295.6299.9314 0323.8205.5222 8242.9268.6278.6295.8296.8293.5298.2305.3302.5311.6312.93084323.2332.4325^9321.93147313.63117319.6
Transferpayments
Toper-sons
154.3167.1179*3198 5235.4274.6305 6339.8342.43607380.6399 4420.7449.64905536.1594.8
159.3170.118242057247.0282 1316.4340.2344.3366.8386.2401.8425.9460 2499J550.2337.8340 0346.2370.33914405.14294448.5455.1463.64737492.8494.2499.85127538.0546^6551.75647597.8605.9610.6
To restof theworld(net)
3.13.43.54.04.35.25.86.58.7
11.512.599
10.211.614 0
-25.49.7
3.73.4384*15.05.0647.39.4
11.412.310.410411.3134
-28.38.2
11 013.913.512.814.615.110.08.6
11.515.112.015.513.312.8
-76.4- 3 L 8-6 .2
1.312.013.612.0
Grants-in-aid
toStateandlocalgov-ern-
ments
57 566.374.779.186790.183.486.291.598.6
108.3103.41084115.8128.3146.9169.2
61167.577 380.588.787.983.987.094.4
100.3107.6102.8111.3118.2132 3153.384.386 997.7
104.5103.8102.9113.01157117.1118.2121.9128.1132.2131.2137.6144.315L91534163.6165.1174.1174.0
Netinter-estpaid
25128.533.140.250.166.181.889.6
107.5125.2130.5133.6143.8160.5175.1183.1188.1
26.829.134 642.152771.784 492.7
113.1127.01310136.6146.0164.8176 6186.986.899 2
122.3129.2131.1143.1151.2159.8165.81644168.91714176.9183.3174.8182 7188^1186.8190.1186.8187.5187.8
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
657.29.49.19.6
11.011.516.823.021.622.124.928.927.623.923.125.1
628.4928.7
10.610.313 320.420.819.923.429.128.425.525.123.117.328 822.216422.137.834.934.625.916.625.029.923.215.332.024 824415.727725.726.920.2
Surplusor
deficit( — )>
nationalincome
andproduct
accounts
57 0- 4 1 . 7- 3 4 . 1- 1 4 . 9
49 0- 5 6 . 9
-105 .0-182 .8- 1 6 3 . 6-175 .9
203 9-151 .9- 1 4 3 . 3- 1 1 4 . 3-159 .9- 1 9 6 . 1-288 .8
- 5 2 . 942 4
- 2 8 1- 1 5 . 7- 6 0 . 1- 5 8 . 8
- 1 3 5 . 5-180 .1-166 .9- 1 8 1 4-201.0-151.8-136.6
122 3-166.2-210.4-183.4-184.6-186.8-187.2-177.5-152.7-134.9-110.0- 1 0 9 7-128.0-141.5-167.8-156.9-145.6-194.6- 1 4 9 9— 21212-221.0-258.7
-289.2-302.9- 3 0 4 4
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year
is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal periodknown as the transition quarter. Data are not seasonally adjusted.
Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.
441Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-80.—State and local government receipts and expenditures, national income and product accounts,
1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quarter
Receipts
Total
45.0
48.352.456.661.167.1
72.381.589.8
102.7114.8
129.0145.3169.7185.3200.6
225.6253.9281.9309.3330.6
361.4390.8409.0443.4492.2
528.7571.2594.3631.3681.5
729.3777.9
417.9459.5505.1544.8582.4605.1648.2
662.8678.0687.4697.7
713.1722.1735.4746.6
754.0769.3783.5804.6
817.8834.0840.0
Personaltax andnontax
receipts
4.6
5.25.76.36.77.5
8.19.5
10.612.715.2
16.718.724.226.328.2
31.0• 35.8
41.046.350.5
56.263.068.576.287.1
94.0101.6111.8117.6131.4
138.7145.4
70.581.189.997.0
106.8113.8122.0
125.8131.8133.2135.0
135.5137.4140.7141.3
142.1144.1145.2150.1
151.1152.9153.3
Corpo-rate
profitstax
accruals
1.2
1.21.31.51.71.8
2.02.22.63.33.6
3.74.35.36.06.7
7.39.6
11.412.113.6
14.515.414.015.918.8
20.222.723.926.024.2
22.721.5
13.116.816.820.625.225.527.7
26.924.622.622.8
22.123.023.822.0
21.021.322.121.7
24.225.823.6
Indirectbusinesstax andnontax
accruals
29.3
32.034.437.039.442.6
46.149.753.960.867.4
74.883.191.299.5
107.2
115.8127.8139.9148.9158.6
172.3192.0206.8226.6251.7
271.4292.0306.5324.5352.8
378.2397.0
213.1236.3259.6278.3296.8312.8332.7
340.7350.0358.2362.2
371.2372.5382.0387.2
387.4391.9401.7407.1
414.6417.8425.1
Contribu-tions for
socialinsurance
3.1
3.43.73.94.24.7
5.05.76.77.28.3
9.210.211.513.014.6
16.819.522.124.727.4
29.732.535.837.740.2
42.847.349.251.954.8
57.360.6
36.838.441.144.349.850.252.8
53.754.555.255.8
56.356.957.758.5
59.260.261.062.0
62.763.464.0
Federalgrants-in-
aid
6.8
6.57.28.09.i
10.4
11.114.415.918.620.3
24.429.037.540.643.9
54.661.167.577.380.5
88.787.983.987.094.4
100.3107.6102.8111.3118.2
132.3153.3
84.386.997.7
104.5103.8102.9113.0
115.7117.1118.2121.9
128.1132.2131.2137.6
144.3151.9153.4163.6
165.1174.1174.0
Expenditures
Total»
45.5
48.352.756.160.666.1
72.381.190.9
102.6113.3
127.2142.8156.3171.9193.5
221.0239.3256.3278.2305.4
336.6362.3382.1403.2434.1
472.6517.0554.2593.0636.7
699.2760.7
391.4411.1446.1488.4531.1568.1607.9
618.9629.8641.7656.4
677.0688.3705.0726.4
739.4752.8768.1782.5
801.2816.3830.8
Pur-chases
41.8
44.548.451.455.860.9
66.874.682.792.3
101.3
112.6124.3134.7149.2170.7
192.0205.5220.1241.4269.2
298.0320.3341.1360.3389.9
428.1465.3496.6531.7573.6
616.8643.2
350.3367.9402.2442.4476.6509.0545.7
558.1568.6578.4589.3
604.3610.0619.7633.0
636.3640.8646.0649.5
658.0664.3669.0
Trans-fer
pay-ments
toper-sons
5.6
5.96.57.07.58.2
8.810.112.114.516.7
20.124.027.530.432.3
38.943.647.452.457.2
65.773.679.985.993.5
101.2110.9119.6130.0143.6
164.7198.0
82.188.096.1
104.5114.4122.9134.2
137.3141.3145.5150.2
155.4160.8167.3175.4
184.8193.2202.3211.8
220.8229.4238.7
Netinterest
paidlessdivi-
dendsreceived
0.1
.1
.1
.2
.1- . 1
- . 3- . 6_ §
- n- 1 . 3
- 2 . 0- 1 . 6- 1 . 8- 3 . 3- 5 . 2
- 5 . 4- 5 . 0- 6 . 0- 9 . 8
-15 .3
-21.2-25 .9-31 .8-34 .3-37 .9
-43.2-45 .6-47.0-51 .1-60.4
-61.4-57.9
-33.2-35 .1-39.7-44.7-45 .9-48.0-53 .4
-57 .2-60.0-61 .8-62 .6
-62 .3-61.9-61 .0-60 .3
-59.4-58 .5-57.4-56.2
55.1-54 .3-53.4
Subsi-diesloccless
currentsurplus
ofgovern-
enter-prises
- 2 . 0
- 2 . 2- 2 . 3- 2 . 5- 2 . 8- 2 . 8
- 3 . 0- 3 . 0- 3 . 1- 3 . 2- 3 . 3
- 3 . 6- 3 . 7- 4 . 2- 4 . 3- 4 . 4
- 4 . 5- 4 . 8-5 .1- 5 . 6- 5 . 7
- 5 . 8- 5 . 6- 7 . 1- 8 . 7
-11.4
-13 .5-13.7-14.9-17 .5-20.1
-20.9-22 .6
- 7 . 7- 9 . 6
-12 .5-13 .8-13.9-15.8-18 .5
-19.4-20 .0-20 .5-20.6
-20.4-20.6-21.0
21.6
-22 .3-22 .8-22.9
22.6
22.5-23.2-23 .6
Surplusor
deficit(-),
nationalincome
andproduct
accounts
1959...
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV
1992:1
- 0 . 5
.0- . 4
.5
.41.0
.0
.5- 1 . 1
.11.5
1.82.5
13.413.47.1
4.614.625.631.125.1
24.828.526.940.358.1
56.154.340.138.444.8
30.117.1
26.548.359.056.351.237.040.2
43.948.245.741.3
36.133.830.320.2
14.616.515.422.0
16.617.79.2
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.
Source: Department of Commerce, Bureau of Economic Analysis.
442
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-81.—State and local government revenues and expenditures, selected fiscal years, 1927-91
[Millions of dollars]
Fiscal yearJ
General revenues by source2
Total Propertytaxes
Salesand
grossreceipts
taxes
Indi-vidualincometaxes
Corpo-ration
netincometaxes
Revenuefrom
FederalGovern-
ment
Allother3
General expenditures by function2
Total Educa-tion
High-ways
Publicwelfare
Allother4
1927 11932 i1934 11936 11938 i1940 "1942 !1944 11946 !1948.19501952
19531954195519561957195819591960196119621963
1962-631963-641964-65
1965-661966-671967-681968-691969-70
1970-711971-721972-731973-741974-75
1975-761976-771977-781978-791979-80
1980-811981-821982-83.....1983-841984-85
1985-861986-871987-881988-891989-90
7,271
7,287 i7,678 I8,395 j9,228 !9,609 :
10,413 !10,908 i12,355 i17,2501
4,730
4,487 !4,075!4,093 !4.440
470!
752!1,008 !
4,430 i
4^604 I4,985!6,126 I
20,91125,181
27,30729,01231,07334,66738,16441,21945,30650,50554,03758,25262,890
62,26968,44374,000
83,03691,197101,264114,550130,756
144,927167,541190,222207,670228,171
256,176285,157315,960343,279382,322
423,404457,654486,753542,730598,121
641,486686,860726,762786,129849,502
902,189
7,3498,652
9,3759,96710,73511,74912,86414,04714,98316,40518,00219,05420,089
19,83321,24122,583
24,67026,04727,74730,67334,054
37,85242,87745,28347,70551,491
57,00162,52766,42264,94468,499
74,96982,06789,10596,457103,757
111,709121,203132,212142,400155,613
167,926
1,794!1,982 !2,35112,289 j2,986 I4,442 I5,154 i6,357 |
6,927 i7,276 {7,6438,69119,467 i9,82910,43711,84912,46313,49414,456
14,44615,76217,118
19,08520,53022,91126,51930,322
33,23337,51842,04746,09849,815
54,54760,64167,59674,24779,927
85,97193,613100,247114,097126,376
135,005144,091156,452166,336177,885
7480153218224276342422543783998
1,065 |1,127 i1,237 |1,5381,7541,7591,9942,4632,6133,0373,269
3,2673,7914,090
4,7605,8257,3088,908
10,812
11,90015,22717,99419,49121,454
24,57529,24633,17636,93242,080
46,42650,73855,12964,52970,361
74,36583,93588,35097,806
105,640
92
79 I49!113 •165 ̂1561272 1451!447 !592;593!846 i
817|778!744 i890 j984!
1,018 !1,0011,1801,2661,3081,505
1,5051,6951,929
2,0382,2272,5183,1803,738
3,4244,4165,4256,0156,642
7,2739,17410,73812,12813,321
14,14315,02814,25817,14119,152
19,99422,42523,66325,92623,566
116
2321,015948|800 I945 •858;954:855 |
1,861 i2,486 |2,565 |
I
1,7931 7,210 2,235 1,809; 151
2,870 I2,956 i3.13113,335 I3,8434,8656,3776,9747,1317,8718,722
8,66310,00211,029
13,21415,37017,18119,15321,857
26,14631,34239,26441,82047,034
55,58962,44469,59275,16483,029
90,29487,28290,00796,935106,158
113,099114,857117,602125,824136,802
1990-91" 902,189 167,926 185,570 109,341 22,242 154,097 263,013 908,635 309,667 64,937 130,402 403,629
1,643 i1,449 !1,604 i1.811!1,872 ;
2,123 j2,253 i2.651 i3,585 !4,541 !5,763 i
6,252 |6,897 j7,584 I8.465 I9,252 !9,69910,51611,63412,56313,48914,850
14,55615,95117,250
19,26921,19723,59826,11829,971
32,37436,16240,21046,54151,735
57,19161,12468,43679,86495,466
111,599128,926138,008153,570172,317
187,314200,350208,482227,838249,996
7,7657,1817,6448,7573,2299,1908,86311,02817,63422,78726,098
27,91030,70133,72436,71140,37544,85148,88751,87656,20160,20664,816 !
63,977 i69,30274,678
82,84393,350102,411116,728131,332
150,674168,549181,357198,959230,721
256,731274,215296,984327,517369,086
407,449436,733466,516505,008553,899
605,623657,134704,921762,360834,818
2,311!1,831 !2,177 |2,491 !2,638 ;2,585 !2,733 i3,356 i5,379 |7,177 |8,318 I
9,390 I10,557 |11,907 113,220 i14,134 j15,91917,28318,71920,57422,21623,776
23,72926,28628,563
33,28737,91941,15847,23852,718
59,41365,81469,71475,83387,858
97,216102,780110,758119,448133,211
145,784154,282163,876176,108192,686
210,819226,619242,683263,898288,148
4,9875,5276,4526,9537,8168,5679,5929,4289,844
10,35711,135
11,15011,66412,221
12J7013,93214,48115,41716,427
18,09519,02118,61519,94622,528
23,90723,05824,60928,44033,311
34,60334,52036,65539,41944,989
49,36852,35555,62158,10561,057
2,914 i3,060!3,163 |3,139 !3,485 i3.818 i4,136 i4,404 I4,720!5,084 '5,481
5,4205,7666,315
6,7578,2189,85712,11014,679
18,22621,11723,58225,08528,155
32,60435,90639,14041,89847,288
54,10557,99660,90666,41471,479
75,86882,65089,09097,879110,518
3,015
1,741!1,509 !1,4251.550 :1,573 ;1,490 i1.2001.612 \3,035 ;3,803 !4,650 !
444 1889l827!
1,059 !1,156 \1.225 i1,133 11.409 12,0S3 I2,940!2,738 !
3,2692,9523.2153,5473,3623,8893,7374.5S17,1708,86710,342
10 61911,55712,19713,39914,94016,54717,87619,32521,06322,54924,423
23,67825,58627,579
30,02933,28136,91541,96347,508
54,94062,59769,44678,09692,180
103,004112,472122,477137,731155,277
172,957189,935205,079223,068244,745
269,568295,510317,528342,479375,095
1 Fiscal years not the same for all governments. See Note.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities. Intergovernmental
receipts and payments between State and local governments are also excluded.3 Includes other taxes and charges and miscellaneous revenues.4 Includes expenditures for libraries, hospitals, health, employment security administration, veterans' services, air transportation,
water transport and terminals, parking facilities, and transit subsidies, police protection, fire protection, correction, protective inspectionand regulation, sewerage, natural resources, parks and recreation, housing and community development, solid waste management,financial administration, judicial and legal, general public buildings, other governmental administration, interest on general debt, andgeneral expenditures, n.e.c.
Note.—Data for fiscal years listed from 1962-63 to 1990-91 are the ithe 12-month period from July 1 to June 30 of those years. Data for 19ending during that particular calendar year.
Data are not available for intervening years.
Source: Department of Commerce, Bureau of the Census.
. . - „ . . . „ . ernment fiscal years that ended inI and earlier years include data for government fiscal years
443Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-82.—Interest-bearing public debt securities by kind of obligation, 1967-92
[Millions of dollars]
End of yearor month
Totalinterest-bearingpublicdebt
securities
Marketable
Total »Treasury
billsTreasury
notesTreasury
bonds
Nonmarketable
TotalU.S.
savingsbonds
Foreigngovern-mentand
publicseries2
Govern-ment
accountseries
Other *
Fiscal year:196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991..1992
322,286344,401351,729
369,026396,289425,360456,353473,238
532,122619,254697,629766,971819,007
906,402996,495
1,140,8831,375,7511,559,570
1,821,0102,122,6842,347,7502,599,8772,836,309
3,210,9433,662,7594,061,801
1991: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992: JanFebMarAprMayJune
JulyAugSeptOctNov
3,408,6373,455,9103,441,3673,442,4023,494,5763,516,066
3,574,2263,600,6033,662,7593,714,5923,732,2813,798,859
3,806,5263,814,1473,878,4943,889,2113,919,0963,961,791
4,007,7784,046,0654,061,8014,050,8144,130,034
4 210,672226,592226,107
232,599245,473257,202262,971266,575
315,606392,581443,508485,155506,693
594,506683,209824,422
1,024,0001,176,556
1,360,1791 1,564,3291 1,675,9801 1,802,9051 1,892,763
1 2,092,7591 2,390,6601 2,677,4761 2,221,7461 2,257,0981 2,227,9141 2,237,6821 2,278,5451 2,268,0601 2,327,8121 2,347,6291 2,390,6601 2,429,2261 2,439,4061 2,471,6461 2,486,0971 2,493,4161 2,552,2611 2,554,1751 2,572,9611 2,605,0581 2,637,9181 2,672,2251 2,677,4761 2,661,3741 2,734,642
58,53564,44068,356
76,15486,67794,648100,061105,019
128,569161,198156,091160,936161,378
199,832223,388277,900340,733356,798
384,220410,730378,263398,451406,597
482,454564,589634,287
537,383541,742533,262504,404512,912521,544
538,211551,555564,589585,908589,735590,389
586,759591,223615,818598,383620,107618,218
632,322637,025634,287627,762644,964
49,10871,07378,946
93,489104,807113,419117,840128,419
150,257191,758241,692267,865274,242
310,903363,643442,890557,525661,687
776,449896,884
1,005,1271,089,5781,133,193
1,218,0811,387,7171,566,349
1,281,2001,301,0871,280,3851,319,0151,339,4191,320,313
1,363,4031,357,7151,387,7171,404,9751,399,1951,430,784
1,448,8691,443,4001,477,6531,497,0031,483,5591,517,548
1,536,3061,558,3591,566,3491,556,7851,602,153
97,41891,07978,805
62,95653,98949,13545,07133,137
36,77939,62645,72456,35571,073
83,77296,178103,631125,742158,070
199,510241,716277,590299,875337,974
377,224423,354461,840
388,164399,270399,268399,263411,214411,203
411,199423,359423,354423,343435,476435,473
435,470443,793443,791443,789454,295454,292
454,289461,841461,840461,827472,525
111,614117,808125,623
136,426150,816168,158193,382206,663
216,516226,673254,121281,816312,314
311,896313,286316,461351,751383,015
460,831558,355671,769796,972943,546
1,118,1841,272,0991,384,325
1,186,8911,198,8111,213,4531,204,7191,216,0311,248,006
1,246,4141,252,9741,272,0991,285,3671,292,8751,327,213
1,320,4291,320,7311,326,2331,335,0361,346,1351,376,733
1,369,8611,373,8401,384,3251,389,4411,395,392
51,21351,71251,711
51,28153,00355,92159,41861,921
65,48269,73375,41179,79880,440
72,72768,01767,27470,02472,832
77,01185,55197,004106,176114,025
122,152133,512148,266
125,294126,524127,726129,145130,246131,268
132,062132,744133,512134,545135,402135,924
137,293138,656139,924141,320142,217143,215
144,503146,083148,266151,147153,528
1,5143,7414,070
4,7559,27018,98528,52425,011
23,21621,50021,79921,68028,115
25,15820,49914,64111,4508,806
6,6384,1284,3506,3206,818
36,04141,63937,039
43,21142,66542,78842,68042,62142,101
42,11842,02441,63941,47241,73641,940
42,02541,97141,96642,16442,25938,698
38,45637,02337,03936,52637,370
56,15559,52666,790
76,32382,78489,598101,738115,442
124,173130,557140,113153,271176,360
189,848201,052210,462234,684259,534
313,928365,872440,658536,455663,677
779,412908,406
1,011,020
828,789839,760853,086842,527852,749883,188
886,229889,893908,406920,079926,101959,185
954,823952,963956,123961,491970,957
1,002,534
999,9571,002,9691,011,0201,016,3801,019,979
2,7312,8283,051
4,0685,7593,6543,7014,289
3,6444,883
16,79727,06727,400
24,16423,71824,08535,59341,843
63,255102,804129,758148,023159,025
180,581188,541188,000
189,598189,862189,853190,368190,415191,450
186,004188,315188,541189,269189,636190,165
186,287187,140188,219190,060190,702192,285
186,945187,765188,000185,388184,516
1 Includes Federal Financing Bank securities, not shown separately, in the amount of 15,000 million dollars.2 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-
currency denominated issues.3 Includes depository bonds, retirement plan bonds, Rural Electrification Administration bonds, State and local bonds, and special
issues held only by U.S. Government agencies and trust funds and the Federal home loan banks.4 Includes $5,610 million in certificates not shown separately.
Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis.
Source: Department of the Treasury.
444Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-83.—Maturity distribution and average length of marketable interest-bearing public debt securitiesheld by private investors, 1967-92
End of year or month
Amountout-
standing,privately
held
Maturity class
Within1 year
I t o 5years
5 to 10years
10 to 20years
20 yearsand over
Average length
Fiscal year:196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985...1986...1987...1988...
1990...1991..1992...
1991:JanFebMarAprMay....June...
JulyAugSept....OctNovDec
1992: Jan....Feb....Mar....Apr....May...June..
yAugSeptOctNov
150,321159,671156,008
157,910161,863165,978167,869164,862
210,382279,782326,674356,501380,530
463,717549,863682,043862,631
1,017,488
1,185,6751,354,2751,445,3661,555,2081,654,660
1,841,9032,113,7992,363,802
1,954,2461,987,3881,970,5191,974,8832,012,1272,003,121
2,054,7822,075,2552,113,7992,143,2442,157,1592,171,507
2,201,6422,211,9632,266,8062,268,3752,284,8662,310,321
2,344,0942,372,7642,363,8022,362,0752,425,550
Millions of dollars
56,56166,74669,311
76,44374,80379,50984,04187,150
115,677150,296161,329163,819181,883
220,084256,187314,436379,579437,941
472,661506,903483,582524,201546,751
626,297713,778808,705
677,365686,639678,000647,282662,538673,231
688,269702,752713,778736,169743,407742,609
749,495758,592786,988769,874786,584784,194
800,084811,729808,705806,345825,445
53,58452,29550,182
57,03558,55757,15754,13950,103
65,85290,578113,319132,993127,574
156,244182,237221,783294,955332,808
402,766467,348526,746552,993578,333
630,144761,243866,329
679,371699,981685,842720,023736,577717,100
752,002733,723761,243769,530769,070788,493
806,162785,152812,044828,118816.200845,264
861,247868,080866,329860,918893,133
21,05721,85018,078
8,28614,50316,03316,38514,197
15,38524,16933,06733,50032,279
38,80948,74375,74999,174130,417
159,383189,995209,160232,453247,428
267,573280,574295,921
270,662265,683268,356269,257264,523264,344
266,065280,576280,574280,645276,457274,221
278,275291,657291,507293,819295,318294,745
296,644297,830295,921299,422303,863
6,1536,1106,097
7,8766,3576,3588,7419,930
8,8578,0878,42811,38318,489
25,90132,56933,01740,82649,664
62,85370,66472,86274,18680,616
82,71384,90084,706
86,12984,44685,13685,13687,19887,198
87,19884,90084,90084,39487,46187,203
87,29785,79885,70885,79885,78885,793
85,79385,57284,70685,52992,798
12,96812,67012,337
8,2727,6456,9224,5643,481
4,6116,652
10,53114,80520,304
22,67930,12737,05848,09766,658
88,012119,365153,016171,375201,532
235,176273,304308,141
240,719250,639253,185253,185261,291261,248
261,248273,304273,304272,506280,764278,980
280,413290,764290,559290,765300,976300,326
300.326309,553308,141309,861310,311
Years Months
544
33332
22233
34344
45556
665
566666
666566
565565
55555
152
863111
871137
901116
113990
1011
1100021
0101110
1111111011
1011111111
Note.—All issues classified to final maturity.Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year is
on an October 1-September 30 basis.
Source: Department of the Treasury.
445334-230 O—92 15(QL3)
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-84.—Estimated ownership of public debt securities by private investors, 1976-92
[Par values;' billions of dollars]
End of month
Held by private investors
TotalCommer-
cialbanks2
Nonbank investors
Total
Individuals3
Total Savingsbonds4
Othersecuri-
ties
Insur-ance
compa-nies
Moneymarketfunds
Corpora-tions8
State andlocal
govern-ments6
Foreignand
interna-tional7
Otherinves-tors8
1976: JuneDec
1977: JuneDec
1978: JuneDec
1979: JuneDec
1980: JuneDec
1981: JuneDec
1982: JuneDec
1983: JuneDec
1984: JuneDec
1985: JuneDec
1986: JuneDec
1987: MarJuneSeptDec
1988: MarJuneSeptDec
1989: Mar
June
Dec.;";;;;;;;
1990: MarJuneSeptDec
1991: MarJuneSeptDec
1992: MarJuneSept
376.4409.5
421.0461.3
477.8508.6
516.6540.5
558.2616.4
651.2694.5
740.9848.4
948.61,022.6
1,102.21,212.5
1,292.01,417.2
1,502.71,602.0
1,641.41,658.11,680.71,731.4
1,779.61,786.71,821.21,858.5
1,903.41,909.11,958.32,015.8
2,115.12,141.82,207.32,288.3
2,360.62,397.92,489.42,563.2
2,664.02,712.42,765.5
92.5103.8
102.9102.0
99.695.3
94.695.6
98.5111.5
115.0113.8
114.7134.0
167.4179.5
180.6181.5
195.6189.4
194.3197.5
193.4192.3198.3194.2
195.6190.7191.2184.9
192.0178.0166.6164.9
178.4176.9179.5171.5
188.5197.3218.6233.4
256.6267.2270.0
283.9305.7
318.1359.3
378.2413.3
422.0444.9
459.7504.9
536.2580.7
626.2714.4
781.2843.1
921.61,031.0
1,096.41,227.8
1,308.41,404.5
1,448.01,465.81,482.41,537.2
1,584.01,596.01,630.01,673.6
1,711.41,731.11,791.71,850.9
1,936.71,964.92,027.82,116.8
2,172.12,200.62,270.82,329.8
2,407.42,445.22,495.5
96.1101.6
104.9107.8
109.0114.0
115.5118.0
116.5117.1
107.4110.8
114.1116.5
121.3133.4
142.2143.8
148.7154.8
159.5162.7
163.0165.6167.7172.4
178.1182.0186.8190.4
204.2211.7213.5216.4
222.8229.6232.5233.8
238.3243.5257.5263.9
268.1275.1281.2
69.672.0
74.476.7
79.180.7
80.679.9
73.472.5
69.268.1
67.468.3
69.771.5
72.974.5
76.779.8
83.892.3
94.796.898.5
101.1
104.0106.2107.8109.6
112.2114.0115.7117.7
119.9121.9123.9126.2
129.7133.2135.4138.1
142.0145.4150.3
26.529.6
30.531.1
29.933.3
34.938.1
43.144.6
38.242.7
46.748.2
51.661.9
69.369.3
72.075.0
75.770.4
68.368.869.271.3
74.175.879.0
92.097.797.898.7
102.9107.7108.6107.6
108.6110.3122.1125.8
126.1129.7130.9
10.712.7
13.015.1
14.215.3
16.015.6
15.318.1
19.921.6
24.430.6
37.846.0
51.264.5
69.180.5
87.9101.6
106.3104.7106.2108.1
110.2111.0115.9118.6
119.7120.3121.4125.1
134.9137.6141.2142.0
145.3151.7163.0168.7
176.9181.3185.0
1.31.5
3.85.6
5.33.5
9.021.5
22.442.6
28.322.8
14.925.9
24.825.1
22.828.6
18.820.615.514.6
15.213.411.111.8
13.011.312.914.9
31.328.034.045.5
65.455.464.5
84.079.479.4
23.323.5
22.118.2
17.317.3
18.617.0
14.019.3
19.917.9
17.624.5
32.839.7
45.350.1
54.959.0
61.268.8
73.579.781.884.6
86.387.685.986.0
89.491.090.993.4
94.996.9
102.0108.9
114.9130.8142.0150.8
166.0175.0
32.739.3
49.659.1
69.681.1
86.286.2
85.190.3
95.999.9
106.0118.6
138.1153.0
168.5188.4
213.4303.6
319.5346.6
365.3383.9397.6418.4
432.5446.9457.7471.6
477.9483.5487.1487.5
493.8494.5492.1490.4
510.4510.8512.9520.3
521.8528.5530.0
69.878.1
87.9109.6
119.5133.1
114.9119.0
118.2129.7
136.6136.6
137.2149.5
160.1166.3
171.6205.9
213.8224.8
250.9263.4
272.8281.1279.5299.7
332.5345.4345.9362.2
376.6369.1394.9392.9
385.0390.5403.5421.7
427.6436.9440.6455.0
471.2492.9499.0
50.549.4
39.848.6
47.351.0
67.083.5
105.3126.9
147.5172.4
204.5232.1
262.8281.9
327.9352.4
371.7380.0
406.6432.8
448.3430.2434.1439.4
429.2409.7426.7433.0
430.6444.2471.0520.7
574.0587.8622.5674.5
670.2671.6690.3691.1
719.5713.1740.0
1 U.S. savings bonds, series A-F and J, are included at current redemption value.2 Includes domestically chartered banks, U.S. branches and agencies of foreign banks, New York investment companies majority owned by foreign banks,
and Edge Act corporations owned by domestically chartered and foreign banks.3 Includes partnerships and personal trust accounts.4 Includes U.S. savings notes. Sales began May 1, 1967, and were discontinued June 30, 1970.5 Exclusive of banks and insurance companies.6 State and local government securities have been redefined to include their fully defeased debt that is backed by nonmarketable Federal securities. Includes
State and local pension funds.7 Consists of the investment of foreign balances and international accounts in the United States.8 Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and brokers,
certain Government deposit accounts, and Government-sponsored agencies.Source: Department of the Treasury.
446Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANCE
TABLE B-85.—Corporate profits with inventory valuation and capital consumption adjustments, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
I9601961196219631964
19651966196719681969 .
19701971197219731974
19751976...197719781979
19801981198219831984...
19851986198719881989 .199019911982: IV1983: IV1984: IV . . . .1985: IV .1986- IV1987- IV..1988- IV . .
1989-1||IIIIV
1990:1II.IllIV
1991-1IIIllIV
1992:1IIIII..
Corporateprofits withinventoryvaluation
and capitalconsumptionadjustments
52.3
50.751.659 665.172.1
82.988.686 092.689.6
77.590.3
103 2116.4104 5
121.9147.1175.7199.7202 5
177.7182 0151.5212.7264 2
280.82716319 8365.0362.8361.7346.3150.3229.12613284 9264 6343 3378 3
369 4369 9357 3354 5
367.6384 0351.4344.0
349 6347.3341.23471
384.0388.4374.1
Corporateprofits tax
liability
23.6
22.722.824.026.228.0
30.933.732.739.439.7
34.437.741.949.351.8
50.964.273.083.588 0
84.881163.177.294 0
96.5106 5127 1137.0141.3136.7124.058.782.283.897.6
116 6135 2146 2
154 8143 7132 6134 2
132.4137 6143.0133.7
1213122.9127.0125.0
136.4144.1131.8
Corporate profits after tax with inventoryvaluation and capital consumption adjustments
Total
28.6
28.028.835.638.944.1
52.054.953.353.249.9
43.152.661.367.152.7
71.082.8
102.6116.2114.5
92.9100.988.4
135.4170.2
184.2165.1192.8228.0221.5225.1222.3
91.7146.9177.5187.2148.1208.1232.2
214.7226.3224.7220.3
235.2246.4208.4210.2
228.3224.4214.2222.2
247.6244.3242.3
Dividends
12.7
13.414.015.016.118.0
20.220.922.124.625.2
23.723.725.828.130.4
30.135.640.745.952.4
59.069.270.081.282.7
92.4109.8106.2115.3134.6149.3146.572.584.283.497.4
111.0106.3121.0
127.8132.2136.9141.3
146.1148.7150.6151.9
150.6146.2145.1143.9
143.6146.6151.1
Undistributedprofits with
inventoryvaluation
and capitalconsumptionadjustments
15.9
14.614.820.622.826.1
31.834.031.228.624.7
19.428.835.539.022.3
40.947.261.970.362.1
33.931.718.454.287.5
91.955.486.5
112.686.975.775.819.262.794.189.937.1
101.8111.286.994.187.879.0
89.197.757.858.377.778.169.078.3
104.097.791.2
Source: Department of Commerce, Bureau of Economic Analysis.
447Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-86.—Corporate profits by industry, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV1983: IV1984: IV1985- IV1986: IV1987: IV1988: IV
1989-1IIIllIV
1990: IIIIllIV
1991:1IIIllIV
1992:1IIIll
Total
53.1
51.051.356.461.267.5
77.683.080.386.983.2
71.885.597.9
110.9103.4
129.4158.8186.7212.8219.8
197.8203.2166.4202.2236.4
225.3227.6273.4320.3325.4
341.2337.8
160.0216.2223.6228.0225.0293.4340.5
331.3330.0319.8320.6
337.4359.6334.4333.5
344.2342.2331.9333.1
360.7361.4344.4
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Domestic industries
Total
50.4
47.848.052.657.163.0
72.978.575.581.376.6
64.777.788.496.085.9
114.8142.3167.7190.2185.6
162.9174.0138.6171.9205.2
194.5194.6233.9271.2266.0
275.5271.3
130.8182.6192.9193.5192.5246.3285.9
274.9272.5261.7254.8
275.0297.0269.7260.2
269.4275.9270.0270.2
292.0300.4279.3
Total
7.0
7.77.57.67.37.5
7.99.29.5
10.911.6
13.115.216.417.516.2
15.919.925.731.831.6
24.318.715.624.520.3
28.735.836.441.850.6
56.760 9
23.022.120.329.034.739.446.1
51.950.947.252.5
57.057.856.955.1
59.760.763.659.7
70.161.340.3
Financial*
FederalReservebanks
0.7
.9
.8
.91.01.1
1.31.72.02.53.1
3.53.33.34.55.7
5.65.96.17.69.4
11.814.415.214.616.4
16.315.515.717.620.1
21.420 2
14.615.217.216.015.216.118.9
19.720.819.720.4
20.621.322.121.5
20.920.220.019.8
18.818.517.2
Other
6.3
6.76.86.86.46.4
6.57.57.68.48.5
9.611.913.113.010.5
10.314.019.624.122.2
12.64.3
.49.93.9
12.420.320.724.230.5
35.340 7
8.36.93.2
13.019.523.327.2
32.230.127.532.1
36.536.534.833.6
38.840.543.639.9
51.342.823.1
Total
43.4
40.240.445.049.855.5
65.069.366.070.465.0
51.662.572.078.569.7
98.9122.4142.0158.4153.9
138.5155.3123.0147.4185.0
165.8158.9197.5229.4215.3
218.8210 4
107.8160.5172.6164.5157.8207.0239.7
223.0221.6214.5202.3
218.0239.2212.8205.1
209.7215.1206.4210.5
221.9239.0239.0
Manu-fac-
turing2
26.5
23.823.426.329.632.4
39.742.439.041.737.0
27.134.841.446.740.7
54.570.778.589.688.3
75.887.463.171.486.7
80.159.087.0
117.5108.0
106.989 3
50.190.579.283.363.998.7
129.3
119.7111.4106.594.5
104.4116.6110.696.3
87.690.391.887.5
97.5115.2118.0
Nonfinancial
Trans-portation
and publicutilities
7.1
7.57.98.59.5
10.2
11.011.910.911.010.6
8.28.99.49.07.6
10.915.318.521.716.9
18.320.120.828.939.9
34.136.543.447.542.1
43.946 1
18.219.133.531.334.243.147.6
43.145.141.438.8
46.349.141.738.6
46.949.642.245.6
49.442.240.6
Wholesaleand retail
trade
6.2
5.25.56.36.47.9
8.68.89.7
10.911.2
10.312.314.114.613.7
21.923.127.827.728.3
22.831.631.938.749.7
43.146.339.937.139.7
35.844 0
33.840.750.839.043.139.339.3
37.439.342.939.2
36.741.730.035.0
44.145.541.744.5
39.946.743.7
Other
3.6
3.63.63.94.45.1
5.66.26.46.86.2
5.96.67.18.27.7
11.613.317.119.420.5
21.616.27.28.48.7
8.517.127.227.325.5
32.131.1
5.710.29.0
11.016.625.823.5
22.825.823.729.8
30.631.830.535.3
31.129.830.732.9
35.135.036.7
Restof theworld
2.7
3.13.33.84.14.5
4.74.54.85.66.6
7.17.99.5
14.917.5
14.616.518.922.634.3
35.029.227.830.431.2
30.832.939.549.159.4
65.766.5
29.233.630.734.532.647.054.6
56.457.558.165.8
62.462.664.773.3
74.866.361.962.9
68.761.065.1
1 Consists of the following industries: Depository institutions; nondepository credit institutions; security and commodity brokers;insurance carriers; regulated investment companies; small business investment companies; and real estate investment trusts.
2 See Table B-87 for industry detail.
Note.—The industry classification is on a company basis and is based on the 1987 Standard Industrial Classification (SIC) beginning1987, and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
448Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-87.—Corporate profits of manufacturing industries, 1959-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Totalmanufac-
turing
Durable goods
Total
Pri-marymetalindus-tries
Fabri-catedmetalprod-ucts
Indus-trial
machin-ery andequip-ment
Elec-tronic
andother
electricequip-ment
Motorvehicles
andequip-ment
Other
Nondurable goods
Total
Foodand
kindredprod-ucts
Chemi-calsand
alliedprod-ucts
Petro-leumandcoalprod-ucts
Other
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1982: IV...1983: IV..,1984: IV...1985: IV...1986: IV..1987: IV...1988: IV...
1989:1II...III..IV..
1990:1....II...III..IV..
1991:1....II...
1992:1....II...
26.5
23.823.426.329.632.4
39.742.439.041.737.0
27.134.841.446.740.7
54.570.778.589.688.3
75.887.463.171.486.7
80.159.087.0
117.5108.0
106.989.3
50.190.579.283.363.998.7
129.3
119.7111.4106.594.5
104.4116.6110.696.3
87.690.391.887.5
97.5115.2118.0
13.7
11.7.11.414.116.418.0
23.223.921.222.419.0
10.416.622.625.015.1
20.331.237.645.036.5
17.918.14.8
18.437.2
29.030.042.252.249.3
40.525.8
- 5 . 333.434.228.834.235.256.4
55.251.647.443.0
46.344.441.429.8
23.329.026.224.8
31.838.343.8
2.3
2.01.61.62.02.5
3.13.62.71.91.4
1.62.35.0
2.72.11.03.63.5
2.63.0
- 4 . 7- 4 . 9
- . 4
- . 9.9
2.65.96.1
3.11.1
-5 .2-3 .7-1 .0- 1 . 3
1.73.36.5
6.47.16.84.1
4.73.42.02.3
1.51.2.2
1.4
1.1
.81.01.21.31.4
2.12.42.52.32.0
1.11.52.22.61.8
3.23.94.55.05.2
4.34.42.63.14.5
4.75.35.26.46.6
6.35.4
1.14.95.24.04.76.06.4
7.66.77.05.3
7.96.95.84.8
4.15.55.86.0
6.17.87.8
2.2
1.81.92.42.53.3
4.04.54.14.13.7
3.03.04.34.73.1
4.86.78.3
10.49.1
7.58.23.44.46.3
5.33.27.3
10.510.3
11.38.9
1.06.55.07.02.66.38.0
9.210.29.1
12.6
12.410.911.010.7
9.99.76.89.2
8.69.59.3
1.7
1.31.31.51.61.7
2.73.03.02.92.3
1.31.92.83.2
.5
2.63.85.86.65.4
5.04.91.33.44.8
2.42.66.27.69.3
7.56.6
- 1 . 06.64.12.03.32.99.7
9.29.47.9
10.9
9.88.37.14.8
7.26.95.56.8
7.26.4
10.4
3.0
3.02.54.04.94.6
6.25.14.05.54.8
1.35.15.95.9
.7
2.27.49.38.94.6
- 4 . 3.2
— 45.28.9
7.34.43.75.72.3
- 2 . 6-6 .9
- 2 . 99.48.57.34.5
.69.6
7.64.0
.6- 3 . 1
- 4 . 3- . 4
.5- 6 . 1
-10.9- 7 . 5- 4 . 3- 4 . 9
1.84.51.9
3.5
2.83.13.54.04.5
5.25.35.05.74.9
3.04.25.76.34.1
4.87.48.6
10.58.6
2.8- 2 . 7
2.67.2
13.1
10.113.717.316.114.6
14.910.8
1.79.7
12.49.7
17.416.216.2
15.214.216.013.2
15.815.315.013.3
11.513.212.26.2
7.49.0
14.0
12.8
12.112.012.213.214.4
16.418.417.819.218.0
16.818.218.821.725.7
34.139.541.044.651.8
57.869.358.353.049.5
51.129.044.865.358.8
66.563.5
55.557.145.054.529.763.472.9
64.559.859.151.6
58.172.269.266.4
64.361.365.762.7
65.776.974.2
2.5
2.22.42.42.72.7
2.83.33.23.23.0
3.23.52.92.52.6
8.67.16.86.15.8
6.09.07.25.87.3
8.47.5
11.411.810.7
13.216.6
6.76.17.37.88.2
13.412.3
13.69.59.79.8
8.514.515.014.8
16.616.618.414.6
15.219.517.1
3.5
3.13.33.23.74.1
4.64.94.35.24.6
3.94.55.26.15.2
6.38.27.78.27.1
5.57.64.76.87.3
6.08.0
15.119.318.5
16.216.1
3.17.76.03.59.5
18.524.0
19.221.118.715.0
16.319.216.213.0
13.214.117.120.1
17.817.117.5
2.6
2.62.22.22.22.3
2.93.43.93.73.3
3.63.73.25.2
10.7
9.813.312.915.524.5
33.638.631.622.115.9
17.1- 8 . 5-3 .610.45.7
14.67.7
29.024.113.024.1
-13.37.4
14.2
5.84.67.64.6
10.214.014.419.6
14.56.84.25.1
8.211.110.1
4.3
4.24.24.44.75.3
6.16.86.47.07.0
6.16.57.57.97.2
9.411.013.614.814.6
12.914.214.818.319.1
19.721.921.923.823.9
22.523.1
16.619.218.619.225.324.122.4
25.924.523.122.2
23.124.523.619.0
20.023.825.922.9
24.529.229.4
Note.—The industry classification is on a company basis and is based on the 1987 Standard Industrial Classification (SIC) beginning1987 and on the 1972 SIC for earlier years shown. In the 1972 SIC, the categories shown here as "industrial machinery and equipmentand "electronic and other electric equipment" were identified as "machinery, except electrical" and "electric and electronic equipment,"respectively.
Source: Department of Commerce, Bureau of Economic Analysis.
449Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-88.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-92
[Billions of dollars]
Year orquarter
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
1970197119721973
1973: IV
New series:1973: IV
1974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll
All manufacturing corporations
Sales(net)
181.9245.0250.2265.9248.5
278.4307 3320.0305.3338.0
345.7356.4389.4412.7443.1
492.2554.2575.4631.9694 6
708.8751.1849.5
1,017.2
275.1
236.6
1,060.6
1,065.21,203.21,328.11,496.41,741.8
1,912.82,144.72,039.42,114.32,335.0
2,331.42,220.92,378.22,596.22 745 1
2,810.72,761.1
671.4706.9705.1727.3
655.1698.8698.7708.4
677.0731.9728.4
Profits
Beforeincometaxes *
23.227.422.924.420.9
28.629 828.222.729.7
27.527.531.934.939.6
46.551.847.855.458 1
48.152.963.281.4
21.4
20.6
92.1
79.9104.9115.1132.5154.2
145.8158.6108.2133.1165.6
137.0129.3173.0216.1188 8
159.699.8
40.150.042.127.4
27.032.827.812.2
34.142.238.6
Afterincometaxes
12.911.910.711.311.2
15.116 215.412.716.3
15.215.317.719.523.2
27.530.929.032.133 2
28.631.036.548.1
13.0
13.2
58.7
49.164.570.481.198.7
92.6101.370.985.8
107.6
87.683.1
115.6154.6136 3
111.667.5
28.135.129.618.8
18.323.117.68.5
24.729.928.9
Stock-holders'equity2
83.398.3
103.7108.2113.1
120.11316141.1147.4157.1
165.4172.6181.4189.7199.8
211.7230.3247.6265.9289 9
306.8320.8343.4374.1
386.4
368.0
395.0
423.4462.7496.7540.5600.5
668.1743.4770.2812.8864.2
866.2874.7900.9957.6999 0
1,043.81,063.8
1,026.61,039.81,054.61,054.4
1,050.41,057.61,069.11,078.2
1,084.21,105.51,124.7
Durable goods industries
Sales(net)
86.8116.8122.0137.9122.8
142.1159 5166.0148.6169.4
173.9175.2195.3209.0226.3
257.0291.7300.6335.5366 5
363.1381.8435.8527.3
140.1
122.7
529.0
521.1589.6657.3760.7865.7
889.1979.5913.1973.5
1,107.6
1,142.61,125.51,178.01,284.71 356 6
1,357.21,304.0
325.8354.0337.7339 8
303.9335.3328.0336.8
324.2354.9344.9
Profits
Beforeincometaxes*
12.915.412.914.011.4
16.516 515.811.415.8
14.013.616.818.521.2
26.229.225.730.631 5
23.026.533.643.6
10.8
10.1
41.1
35.350.757.969.672.4
57.467.234.748.775.5
61.552.178.091.775 2
57.614.1
16.322.012.864
3.410.73.2
-3 .2
10.915.112.3
Afterincometaxes
6.76.15.55.85.6
8.1837.95.88.1
7.06.98.69.5
11.6
14.516.414.616.516 9
12.914.518.424.8
6.3
6.2
24.7
21.430.834.841.845.2
35.641.621.730.048.9
38.632.653.067.155 7
40.97.4
11.815.79.441
1.47.61.1
- 2 . 8
7.810.510.1
Stock-holders'equity2
39.947.249.852.454.9
58.865.270.572.877.9
82.384.989.193.398.5
105.4115.2125.0135.6147 6
155.1160.4171.4188.7
194.7
185.8
196.0
208.1224.3239.9262.6292.5
317.7350.4355.5372.4395.6
420.9436.3444.3468.7501 3
515.0506.8
506.4517.0519.0517.5
503.5507.8505.9509.9
510.1523.9532.1
Nondurable goods industries
Sales(net)
95.1128.1128.0128.0125.7
136.3147.8154.1156.7168.5
171.8181.2194.1203.6216.8
235.2262.4274.8296.43281
345.7369.3413.7489.9
135.0
113.9
531.6
544.1613.7670.8735.7876.1
1,023.71,165.21,126.41,140.81,227.5
1,188.81,095.41,200.31,311.51 388 5
1,453.51,457.1
345.6352.9367.5387.5
351.2363.5370.7371.7
352.9377.0383.5
Profits
Beforeincometaxes1
10.312.110.010.49.6
12.113.212.411.313.9
13.513.915.116.418.3
20.322.622.024.826 6
25.226.529.637.8
10.6
10.5
51.0
44.654.357.262.981.8
88.491.373.684.490.0
75.677.295.1
124.4113 5
102.085.7
23.828.029.221.0
23.622.124.615.3
23.227.226.3
Afterincometaxes
6.15.75.25.55.6
7.0787.56.98.3
8.28.59.2
10.011.6
13.014.614.415.516 4
15.716.518.023.3
6.7
7.0
34.1
27.733.735.539.353.5
56.959.649.355.858.8
49.150.562.687.580 6
70.660.1
16.319.520.214.7
16.815.416.511.3
17.019.418.8
Stock-holders'equity2
43.551.153.955.758.2
61.366 470.674.679.2
83.187.792.396.3
101.3
106.3115.1122.6130.3142 3
151.7160.5172.0185.4
191.7
182.1
199.0
215.3238.4256.8277.9308.0
350.4393.0414.7440.4468.5
445.3438.4456.6488.9497 7
528.9557.0
520.2522.7535.6537.0
546.8549.8563.2568.3
574.1581.6592.6
1 In the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.
2 Annual data are average equity for the year (using four end-of-quarter figures).
Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, industryclassifications, sampling procedures, etc. For explanatory notes concerning compilation of the series, see "Quarterly Financial Report forManufacturing, Mining, and Trade Corporations, Department of Commerce, Bureau of the Census.
Source-. Department of Commerce, Bureau of the Census.
450Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-89.—Relation of profits after taxes to stockholders' equity and to sales, all manufacturingcorporations, 1947-92
Year or quarter
Ratio of profits after income taxes (annualrate) to stockholders' equity—percent *
Allmanufacturingcorporations
Durablegoods
industries
Nondurablegoods
industries
Profits after income taxes per dollar ofsales—cents
Allmanufacturingcorporations
Durablegoods
ndustries
6.77.16.47.75.34.54.24.65.75.24.83.94.8
4.03.94.44.55.15.75.64.84.94.6
3.53.84.24.7
4.5
5.0
4.7
4.15.25.35.55.2
4.04.22.43.14.43.42.94.55.24.13.0.6
3.64.42.81.2.5
2.3.3
-.82.43.02.9
Nondurablegoods
industries
6.76.85.4
6.54.54.14.34.45.15.34.94.44.9
4.84.74.74.95.45.55.65.35.25.0
4.54.54.44.8
5.0
6.1
6.4
5.15.55.35.36.1
5.65.14.44.94.84.14.65.26.75.84.94.14.75.55.53.84.84.24.43.04.85.14.9
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
1970197119721973
1973: IV
New series.*
1973: IV
1974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1990:1IIIllIV
1991:1IIillIV
1992.1IIIll
15.616.011.6
15.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.6
13.013.411.712.111.5
9.39.7
10.612.8
13.4
14.3
14.9
14.415.712.1
16.913.011.111.110.3
13.812.811.38.0
10.4
8.58.19.6
10.111.7
13.814.211.712.211.4
8.39.0
10.813.1
12.9
13.3
12.6
11.613.914.215.016.4
13.913.69.2
10.612.5
10.19.5
12.816.113.6
10.76.3
10.913.511.27.17.08.76.63.2
9.110.810.3
10.313.714.516.015.4
11.211.96.18.1
12.4
9.27.5
11.914.311.1
8.01.59.3
12.17.23.21.26.0.9
- 2 . 2
6.18.07.6
16.616.211.2
14.111.29.79.99.6
11.411.810.69.2
10.4
9.89.69.9
10.411.5
12.212.711.811.911.5
10.310.310.512.6
14.0
15.3
17.1
12.914.213.814.217.4
16.315.211.912.712.5
11.011.513.717.916.2
13.410.8
12.514.915.110.9
12.311.211.78.0
11.813.312.7
6.77.05.8
7.14.94.34.34.5
5.45.34.84.24.8
4.44.34.54.75.2
5.65.65.05.14.8
4.04.14.34.7
4.7
5.6
5.5
4.65.45.35.45.7
4.84.73.54.14.6
3.83.74.96.05.0
4.02.4
4.25.04.22.6
2.83.32.51.2
3.74.14.0
1 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity at end ofquarter only.
Note.—Based on data in millions of dollars.See Note, Table B-88.Source: Department of Commerce, Bureau of the Census.
451Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
T A B L E B-90.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1947-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quar-terxer
1947....1948...1949....
1950...1951....1952....1953....1954....1955....1956....1957....1958....1959....
I960....1961....1962....1963....1964....1965....1966....1967....1968....1969....
1970....1971....1972....1973....1974....1975....1976...1977....1978...1979...
1980....1981....1982....1983....1984...1985...1986...1987....1988...1989....
1990...1991....
1990:1IIIllIV
1991:1IIIllIV
1992:1III l l
Sources
Total
27.429.721.3
42.937.330.429.030.053.246.144.242.857.0
50.356.061.970.276.094.4
100.696.4
115.0122.1
106.5130.6159.0221.4188.9155.0208.6257.4316.3332.5
330.3381.9316.6423.3493.1465.7515.9540.7588.7532.2
511.4444.2
540.5583.5511.5410.1
366.2476.3490.4443.7
542.0568.7553.1
Internal
Total
13.319.720.0
18.520.822.522.324.429.930.032.030.737.0
36.537.544.047.853.060.164.365.366.766.5
64.076.188.195.591.0
125.0140.5162.7183.6198.5
199.7238.9247.5292.3336.3351.9336.7375.9404.3399.9
407.5416.5
412.4423.0391.9402.7
417.5418.9407.0422.8
439.1442.2463.3
II 9u.o.
undis-tributed
profits
12.714.09.6
14.110.88.99.29.0
13.412.711.58.3
13.0
10.610.213.014.518.423.425.022.221.318.4
12.618.724.636.945.343.456.566.978.786.4
69.264.230.630.546.421.7
2.141.373.632.2
22.08.9
17.828.830.011.5
5.09.4
14.27.0
30.540.934.1
Inven-tory
valuationand
capitalcon-
sumptionadjust-ments
- 8 . 7- 5 . 2- 1 . 0
- 7 . 9- 4 . 4- 2 . 0- 3 . 3- 1 . 9- 2 . 0-3 .7- 2 . 7-1 .5- 1 . 0
.4
.63.24.04.04.03.54.21.9.4
1.1.1
1.615.238.818.626.127.0
-37.858.0
61.444.8
-22.42.9
24.154.453.430.615719.8
12.9209
27.533.8
8.713
21.324.513.724.0
27.020.328.5
Capitalcon-
sumptionallow-ances
9.010.411.2
12.013.814.815.916.817.820.022.023.124.1
25.125.826.827.929.331.334.137.341.145.0
49.454.260.565.676.892.2
102.5114.8131.1151.6
173.2205.3227.5240.1246.1256.0269.22792295.1315.1
327.0338.5
322.4324.7328.43323
336.0338.23387341.0
339.8344.4360.2
Foreignearn-
ings re-tained
abroad »
0.3.4.3
.3
.6
.8
.7
.5
.81.01.2.8.9
1.21.01.11.41.31.41.71.62.32.8
3.23.24.78.17.78.17.68.1
11.718.6
18.714.211.818.819.719.816.224819.932.8
45.7483
44.7357421602
55246.840 450.8
41.836.640.6
Total
14.010.1
1.3
24.416.68.06.75.6
23.316.112.312.220.0
13.818.517.922.323.034.436.331.148.355.6
42.554.570.9
126.097.930.068.194.7
132.7134.0
130.6143.169.1
131.0156.8113.9179.2164.8184.4132.3
103.927.6
128.0160.5119.6
7.4
-51.357.483.420.9
102.9126.589.8
Credit
Total
8.67.73.8
8.711.59.36.36.4
10.613.412.811.012.4
12.212.413.412.915.019.726.427.229.435.7
36.739.245.381.358.523.950.168.773.067.2
76.597.954.080.198.058.5
129.867669.349.4
23.418.8
549634
5.430.0
8.039.228 7
,7
103.771.248.4
External
market funds
Securi-tiesand
mort-gages
5.67.05.6
4.87.18.26.76.96.98.1
10.811.18.4
8.310.99.59.19.07.8
16.019.016.817.8
28.834.729.349.425.040.241.843.939.716.0
35.930.7
.744.6
7.51.9
64.632 867
34.2
11.5875
24./21448.9
63
718111.9786877
109.7103.248.7
Loansand
short-termpaper
3.0.7
- 1 . 9
3.94.41.1
- . 4_ 5375.31.9-.14.0
3.91.53.93.86.0
11.910.48.2
12.617.8
7.84.6
16.031.933.5
-16.38.3
24.833.251.3
40.667.254735.5
105.556.665.234.976,0837
34.9687
79.642054.436.4
63 872749988.4
• 6 . 0
32.0
Other2
5.42.4
- 2 . 5
15.75.1
- 1 . 3.4
- . 912.72.7- . 51.27.6
1.56.14.59.58.0
14.79.83.9
18.919.9
5.915.325.644.739.4
6.118.026.059.766.8
54.145.215.150.958.855.449.497.1
115.182.9
80.58.8
73.197.1
114.237 4
59318.254 821.6
.855.4
Uses
Total
33.033.826.4
49.647.330.028.127.948.840.939.738.351.2
41.450.654.659.964.582.491.087.3
107.3116.8
100.2124.3149.8195.1195.0157.1210.5245.5328.7373.2
352.8408.9332.9420.5502.3457.8502.4473.45542512.2
482.4427.6
490.6553.4524.9360.7
345.0436.94897439.0
523.8566.2530.6
Capitalexpendi-tures 3
24.728.922.9
33.240.025.525.923.132.337.135.527.637.2
37.636.542.244.449.860.874.571.276.885.5
82.088.2
100.4125.21437117.4158.8185.2223.1245.6
255.8313.0285.3300.1398.5374.9351.9365.13944406.0
395.1363.9
398.7417 7401.8362 2
353 5351.33715379.2
354.1390.8399.0
Increase
inanciaiassets
8.34.93.5
16.37.34.52.24.8
16.43.94.1
10.714.1
3.814.112.315.514.721.616.516.230.531.3
18.336.149.469.851.339.751.760.3
105.7127.6
97.195.947.6
120.4103.883.0
150.4108.4159.8106.2
87.363.7
919135.7123.0
1.5
8.685.5
118.259.8
169.6175.3131.6
Discrep-ancy
(sourcesless
uses)
- 5 7- 4 . 1- 5 . 1
- 6 . 7-10 .0
.4
.92.04.55.24.64.55.8
8.95.47.4
10.311.412.09.69.17.75.3
6.36.49.3
26.46.12.1
- 1.911.9
-12.440.7
22.526.916.32.89.27.9
13.567.334.420.0
29.016.5
49.830 113.449.4
21.339.4
74.7
18.22.6
22.5
1 Foreign branch profits, dividends, and subsidiaries' earnings retained abroad.2 Consists of tax liabilities, trade debt, and direct foreign investment in the United States.3 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.
Source: Board of Governors of the Federal Reserve System.
452
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-91.—Common stock prices and yields, 1955-92
Year or month
Common stock prices»
New York Stock Exchange indexes (Dec. 31, 1965=50)2
Composite IndustrialTranspor-
tation Utility Finance
DowJones
industrialaverage3
Standard& Poor's
compositeindex
(1941-43=10)*
Common stock yields(percent)5
Dividend-priceratio6
Earnings-priceratio7
195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921991:Jan
FebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMarAprMay....June....
AugSept....OctNovDec
21.5424.4023.6724.5630.7330.0135.3733.4937.5143.7647.3946.1550.7755.3754.6745.7254.2260.2957.4243.8445.7354.4653.6953.7058.3268.1074.0268.9392.6392.46
108.09136.00161.70149.91180.02183.46206.33229.01
177.95197.75203.57207.71206.93207.32208.29213.33212.55213.10213.25214.26
229.34228.12225.21224.55228.61224.68228.17230.07230.13226.97232.84239.47
46.1851.9758.0057.4448.0357.9265.7363.0848.0850.5260.4457.8658.2364.7678.7085.4478.18
107.45108.01123.79155.85195.31180.95216.23225.78258.14284.62
220.69246.74255.36260.15260.13261.16262.48268.22266.21265.68264.89266.01
286.62286.09282.36281.60285.25279.54281.90284.44285.76279.70287.30294.86
50.2653.5150.5846.9632.1444.3550.1737.7431.8931.1039.5741.0943.5047.3460.6172.6160.4189.3685.63
104.11119.87140.39134.12175.28158.62173.99201.09
145.89166.06166.26166.90170.77177.05177.15178.52177.99187.31188.52185.47
201.55205.53204.07201.28207.93202.02198.36191.31191.61192.30204.78212.35
45.4145.4344.1942.8037.2439.5338.4837.6929.7931.5036.9740.9239.2238.2037.3538.9139.7547.0046.4456.7571.3674.3071.7787.4390.6092.6699.46
88.5992.0892.2992.9290.7689.0190.0592.3893.7295.2596.7898.08
99.3196.1894.1694.9298.2697.23
101.18103.41102.26101.62101.13103.85
44.4549.8265.8570.4960.0070.3878.3570.1249.6747.1452.9455.2556.6561.4264.2573.5271.9995.3489.28
114.21147.20146.48127.26151.88133.26150.82179.26
121.39141.03145.42152.64151.32152.31151.60157.70157.69158.94159.78159.96
174.50174.08173.49171.10175.90174.82181.00180.47178.27181.36189.27196.87
442.72493.01475.71491.66632.12618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72
753.19884.76950.71923.88759.37802.49974.92894.63820.23844.40891.41932.92884.36
1,190.341,178.481,328.231,792.762,275.992,060.822,508.912,678.942,929.333,284.29
2,587.602,863.042,920.112,925.542,928.422,968.142,978.193,006.093,010.353,019.742,986.122,958.64
3,227.063,257.273,247.423,294.083,376.793,337.793,329.413,307.453,293.923,198.703,238.493,303.15
40.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29
109.20107.4382.8586.16
102.0198.2096.02
103.01118.78128.05119.71160.41160.46186.84236.34286.83265.79322.84334.59376.18415.74
325.49362.26372.28379.68377.99378.29380.23389.40387.20386.88385.92388.51
416.08412.56407.36407.41414.81408.27415.05417.93418.48412.50422.84435.64
4.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.833.142.843.064.474.313.774.625.285.475.265.205.814.404.644.253.493.083.643.453.613.242.99
3.823.353.263.193.233.233.203.103.153.143.153.11
2.902.943.013.022.993.063.002.973.003.072.982.90
7.957.557.896.235.785.904.625.825.505.325.596.635.735.676.086.455.415.507.12
11.599.158.90
10.7912.0313.4612.6611.9611.608.03
10.028.126.095.488.017.416.474.81
5.58
4.01
""Hi
"4.32
1 Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.2 Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.4 Includes 500 stocks.5 Standard & Poor's series, based on 500 stocks in the composite index.'Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures-, annual data are averages of monthly figures.7 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.Note.—All data relate to stocks listed on the New York Stock Exchange.
Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
453
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-92.—Business formation and business failures, 1950-92
Year or month
Indexof net
businessformation(1967 =
100)
Newbusinessincorpo-rations
(number)
Business failures *
Businessfailurerate2
Number of failures
Total
Liability size class
Under$100,000
$100,000and over
Amount of current liabilities(millions of dollars)
Total
Liability size class
Under$100,000
$100,000and over
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
198019811982198319841985198619871988198919901991
1991-. JanFebMarAprMayJune
JulyAugSeptOctNovDec
1992: JanFebMarAprMayJune
JulyAugSeptOctp
87.786.790.889.788.896.694.690.390.297.994.590.892.694.498.299.899.3100.0108.3115.8108.8111.1119.3119.1113.2109.9120.4130.8138.1138.3129.9124.8116.4117.5121.3120.9120.4121.2124.1124.8120.7115.3
93,09283,77892,946102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267264,209287,577316,601329,358319,149326,345375,766436,170478,019524,565533,520581,242566,942600,400634,991662,047702,738685,572685,095676,565647,366628,580
Seasonally adjusted
115.5114.7114.2115.0115.7116.0115.4116.0115.4115.3115.9115.1116.9115.7115.7115.0112.6117.0116.8116.9118.6119.9
51,99150,38451,53652,23552,32752,07152,76753,31352,28453,89254,16552,89858,13255,05757,40354,46248,67358,718
34.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.343.841.738.336.438.442.634.828.423.927.842.161.389.0
110.0107.0115.0120.0102.098.065.076.0
106.0
9,1628,0587,6118,862
11,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,3649,6369,154
10,74810,3269,5669,3459,915
11,4329,6287,9196,6197,564
11,74216,79424,90831,33452,07857,25361,61661,11157,09750,36160,74788,215
6,7516,9117,3977,5057,8306,9847,6907,4716,8998,5637,1927,0228,5868,0599,1368,6825,7418,4468,6257,9467,5577,973
8,7467,6267,0818,075
10,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,6117,0406,6276,7337,5046,1764,8613,7123,9305,6828,233
11,50915,50919,61836,53938,90838,94938,30033,31240,64360,672
4,4814,5494,9895,1355,3994,8965,3135,2434,8056,0644,9534,8456,0415,6616,3646,0555,4096,0496,1295,5595,3735,615
416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,7152,5262,7183,1823,9283,4523,0582,9073,6346,0608,561
13,39915,82532,46020,71422,70822,16218,79717,04920,10427,543
2,2702,3622,4082,3702,4312,0882,3772,2282,0942,4992,2392,1772,5452,3982,7722,6272,3322,3972,4962,3872,1842,358
248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6
1,090.11,213.61,352.61,329.21,321.71,385.71,265.2
941.01,142.11,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.02,667.44,635.16,955.2
15,610.816,072.929,268.636,937.444,724.034,723.839,573.042,328.856,130.1
107,905.1
8,949.913,257.47,876.89,920.9
12,637.715,763.95,919.93,015.97,114.98,628.35,180.39,639.27,725.36,839.36,273.67,939.2
12,020.313,637.03,568.29,317.33,204.97,876.4
151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3258.8235.6256.9298.6257.8208.3164.7179.9272.5405.8541.7635.1409.8423.9838.3746.0686.9670.5735.6
1,046.9
81.580.887.590.095.489.995.783.677.398.184.682.593.293.8
106.997.388.497.097.189.287.687.2
97.1128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1
1,031.61,015.61,000.01,064.1
967.3699.9910.8
1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.32,487.5*4,362.66,549.3
15,069.115,437.828,858.836,513.543,885.733,977.838,886.141,658.255,394.5
106,858.2
8,868.413,176.77,789.39,830.9
12,542.415,673.95,824.22,932.37,073.68,530.35,095.79,556.77,632.16,745.56,166.77,841.8
11,931.913,540.03,471.29,228.03,117.37,789.3
1 Commercial and industrial failures only through 1983, excluding failures of banks, railroads, real estate, insurance, holding, andfinancial companies, steamship lines, travel agencies, etc.
Data beginning 1984 are based on expanded coverage and new methodology and are therefore not generally comparable with earlierdata. Data for 1991 and 1992 are subject to revision due to amended court filings.
2 Failure rate per 10,000 listed enterprises.
Sources-. Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation.
454
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE
TABLE B-93-—Farm income, 1940-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1940194119421943194419451946194719481949 .
1950 .195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971197219731974....197519761977 . .19781979
1980198119821983198419851986198719881989
19901991
1990:1||IIIIV
1991 1II..IllIV
1992-1III l l "
Income of farm operators from farming
Gross farm income
Total1
11.314 319.923.324 025.429.632 436 530.8
33.138.337.834.434.233.534.034.839.037 9
38.640 542.343.442 346.550 550 551.856.4
58 862.171.198.998 2
100.6102.9108 8128.4150 7
149.3166 31641153.9168 0161.2156.1168 5175.41911
196 0189.5
200.0192 4189.3202 4
1891189.7185.21941
199 2195.7190.8
Cash marketing receipts
Total
8.411.115.619.620 521.724.829 630 227.8
28.532.932.531.029.829.530.429.733.533 6
34.035 236.537.537 339.443 442 844.248.2
50 552.761.186.992 488 995.496 2
112.41315
139.7141.6142 6136.8142 8144.1135.4141 8151.11610
169 9167.3
166.0166 7173.6173 3
1651165 4170.6167 9
165 2170.3174.8
Livestockand
products
4.96.59.0
11.511412.013.816 517.115.4
16.119.618.216.916.316.016.417.419.218 9
19.019.520.220.019.921.925 024.425.528.6
29 530.535.645.841.343.146.347.659.269.2
68.069.270 369.672 969.871.676 079.4841
89.986.7
89.788.291.190 6
89 687.684.985 0
83.885.684.9
Crops
3.54.66.58.19.29.7
11.013.113.112.4
12.413.214.314.113.613.514.012.314.214.7
15.015.716.317.417.417.518.418.418.719.6
21022.325.541.151.145.849.048.653.262.3
71.772.572.367.269.974.363.865.971.776.9
80.080.5
76.278.582.682.7
75.677.985.883.0
81.484.789.9
Value ofinventorychanges2
0.3.4
1.1- .1
.4- . 4
.01.81.7
- .9.8
1.2.9
- .6.5.2.5.6.8.0.4.3.6.6
- .81.0
.7
.1
.1
.01.4
.93.4
- 1 . 63.4
- 1 . 51.11.95.0
- 6 . 36.5
- 1 . 4-10 .9
6.0- 2 . 3- 2 . 2
2.3- 3 . 4
4.8
3.5.4
5.24.12.81.7
1.2.6.1.1
10.81.4.2
Produc-tion
expenses
6.97.8
10.011.612.313.114.517.018.818.0
19.522.322.821.521.822.222.723.725.827.2
27.428.630.331.631.833.636.538.239.542.1
44.547.151.764.671.075.082.788.9
103.3123.3
133.1139.4140.3139.6141.9132.4125.1128.8134.3141.2
145.1144.9
142.8144.4144.7148.3
145.8147.2143.1143.4
145.1146.5142.5
Net farm income
Currentdollars
4.56.59.9
11.711.712.315.115.417.712.8
13.615.915.013.012.411.311.311.113.210.7
11.212.012.111.810.512.914.012.312.314.3
14.415.019.534.427.325.520.219.925.227.4
16.126.923.814.226.128.831.139.741.149.9
51.044.6
57.248.044.654.1
43.342.542.050.6
54.149.248.3
1987dollars3
40.755.580.193.992.992.690.282.188.364.2
67.674.869.659.055.749.447.745.452.941.9
43.145.544.843.337.945.447.540.738.842.8
40.840.550.183.260.751.938.635.641.841.S
22.534.128.416.328.730.532.C39.739.646.C
45.037.9
51.442.639.147.]
37.136.235.642.6
45.240.839.9
'Cash marketing receipts and inventory changes plus Government payments, other farm cash income, and nonmoney incomefurnished by farms.
2 Physical changes in end-of-period inventory of crop and livestock commodities valued at average prices during the period.3 Income in current dollars divided by the GDP implicit price deflator (Department of Commerce).Note.—Data include net Commodity Credit Corporation loans and operator households.Source: Department of Agriculture, except as noted.
455Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-94.—Farm output and productivity indexes, 1947-91
[1977 = 100]
Year
19471948 ....1949
195019511952 ....19531954 ..
19551956195719581959
19601961196219631964
1965 ..1966196719681969
19701971197219731974
19751976197719781979
19801981198219831984 .
19851986198719881989
19901991
Farm output
Total»
586362
6163666666
6969677374
7676778079
8279838585
8492919388
9597100104111
10411811696112
118111110102114
119120
Crops2
Total3
566461
5960626261
6363626968
7270717472
7673777980
7786879284
9392100102113
10111711788111
11810910892107
114111
Feedgrains
395750
5147504951
5454586466
6962626859
7070797578
7192889174
9196100108116
9712112267116
13412310673108
112106
Foodgrains
646253
4949635751
4850476955
6660565965
6767768074
6981778691
10810710093108
121144138117129
12110710798107
136104
Oilcrops
222726
2626262628
3034333936
3843444646
5355566465
6668748771
8674100105129
9911412191106
11711010889106
107114
Live-stockandprod-ucts2
656467
7073747477
7979787983
8286868991
8991949495
9910010199100
9599100101104
108109107109107
110110113116116
118119
Productivity indicators
Farm output
Perunit oftotalinput
556057
5860626465
6667677473
7678788281
8483858788
8795949590
9998100101105
101116119100118
129124124116130
135
Perhour offarmwork 4
182120
2224262829
3031333939
4244465152
5659646872
7485838681
9097100104113
10912312599121139139142135147
142
Cropproduc-tionper
acre5
576460
5959626261
6364657372
7778818381
8583868991
8896999988
9694100105113
100115116100112
120116123106119
127125
1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.
2 Gross production.3 Includes items not included in groups shown.4 Survey-based labor productivity time series; not comparable with data published in the issues of the Economic Report of the President
prior to January 1989.5 Computed from variable weights for individual crops produced each year.Source: Department of Agriculture.
456
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-95.—Farm input use, selected inputs, 1947-91
Year
Farm population,April1
Num-ber
(thou-sands)
Aspercent
oftotal
popula-tion2
Farm employment(thousands)3
TotalFamilywork-
ers
Hiredwork-
ers
Cropshar-
vested(mil-
lions ofacres)4
Selected indexesof input use (1977=100)
Total Farmlabor
Farmreal
estate
Me-chanical
powerand
machin-ery
culturalchemi-cals*
Feed,seed,andlive-stockpur-
chases6
194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
25,82924,38324,194
23,04821,89021,74819,87419,019
19,07818,71217,65617,12816,592
15,63514,80314,31313,36712,954
12,36311,59510,87510,45410,307
9,7129,4259,6109,4729,264
8,8648,253
7 6,1947 6,5017 6,2417 6,0517 5,8507 5,6287 5,7875,754
5,3555,2264,9864,9514,801
4,5914,632
17.916.616.2
15.214.213.912.511.7
11.511.110.39.89.3
8.78.17.77.16.7
6.45.95.55.25.1
4.74.54.64.54.3
4.13.8
7 2.87 2.97 2.87 2.77 2.57 2.47 2.5
2.4
2.22.22.12.12.0
1.91.9
10,38210,3639,964
9,9269,5469,1498,8648,651
8,3817,8527,6007,5037,342
7,0576,9196,7006,5186,110
5,6105,2144,9034,7494,596
4,5234,4364,3734,3374,389
4,3424,3744,1553,9573,774
3,7058 3,5528 3,4008 3,2478 3,094
2,9412,7492,7342,7892,873
2,8692,877
8,1158,0267,712
7,5977,3107,0056,7756,570
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,506
4,1283,8543,6503,5353,419
3,3483,2753,2283,1693,075
3,0262,9972,8592,6892,501
2,4028 2,2678 2,1368 2,0078 1,976
1,9041,7681,7431,8101,926
1,9651,967
2,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9521,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,176
1,1751,1611,1461,1681,314
1,3171,3771,2961,2681,273
1,30381,28581,26481,240® 1,118
1,037981992979947
904910
355356360
345344349348346
340324324324324
324302295298298
298294306300290
293305294321328
336337345338348
352366362306348
342325302297318
322318
104104108
106106105103102
10410310098101
99
9898
9796989796
9697979898
9798100102105
103102989695
297285285
265251237220214
220212196182183
177167163155148
144132128124118
112108110109109
10610010010099
9696939792
8580787576
80
106107108
109109108108108
108106105104105
103103104104104
103102104102102
10510310210099
9798100100103
10310410210199
9796959493
93
8082858686
8587869092
9698100104104
10198898685
151618
1921232424
2627272832
3235384346
4956666973
7581869092
8396100107123
123129118102120
115109111112119
122
515256
5862636365
6669687377
7781838385
89928993
9610210410799
93101100108115
114108107103103
102109116111113
113
'Farm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms inrural areas, regardless of occupation. See also footnote 7.
2 Total population of United States including Armed Forces overseas, as of July 1.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those on
agricultural employment by the Department of Labor (see Table B-30) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected.
4 Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.5 Fertilizer, lime, and pesticides.6Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm. Under old definition of a farm, farm population (in thousands and as percent of total
population) for 1977, 1978, 1979, 1980, 1981, 1982, and 1983 is 7,806 and 3.6; 8,005 and 3.6; 7,553 and 3.4; 7,241 and 3.2; 7,014and 3.1; 6,880 and 3.0; 7,029 and 3.0, respectively.
8 Basis for farm employment series was discontinued for 1981 through 1984. Employment is estimated for these years.Note.—Population includes Alaska and Hawaii beginning 1960.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
457
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-96.—Indexes of prices received and prices paid by farmers, 1950-92
[1977 = 100]
Year or month
Prices received by farmers
Allfarmprod-ucts
Crops
Live-stockand
prod-ucts
Prices paid by farmers
Allcommod-
ities,services,interest,
taxes,and
wagerates l
Production items
Total2
Tractorsandself-pro-
pelledmachin-
ery
Fertil-izer
Fuelsand
energy
Wagerates
Adden-dum:Aver-agefarmrealestatevalueperacre3
1950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911992 P1991: Jan..
Feb..Mar..
May"June.July..Aug..Sept.Oct..Nov..Dec.
1992: Jan..Feb..Mar..Apr..MayJuneJuly.Aug.SeptOct.Nov.Dec.
566663565451505155535253535352545855565960626998105101102100115132134139133135142128123127138147149146139144145148149151152148146147142139137138142143141141140138139138139136138
546162555653545252515152545555535552525052566091117105102100105116125134121128138120107106126134127130121121122128131137142135133137126124120123128131126123122117117117116115117
58706456524947515753535253514954605760676767771049498101100124147144143145141146136138146150160170161157166166168166165162162158157158153153152156155155157157158160158160156157
374142404040404243434444454545474949515355586271818995100108123138150159161164162159162170178184189191188
189
189
189
189
191
192
_ .
424747444443434446464646474747485050505254576173839197100108125138148153152155151144148157165171173174173
394042444749515458688291100109122136152165174181178174174181193202211219208
175 210
173 210
172 216
171
174
175
_ .
216
217
217
54575959595857585857575858575757565552484850525692120102100100108134144144137143135124118130137131134131132
494950505152535457798893100105137188213210202201201162164167180204203199219
136 198
136 196
132 200
132 192
132
132
'128
194
206
205
222526272727282930323333343536384144485357596369798593100107117127138144148151154158166171185191201210204
203
203
194
216
212
212
201
141618181819192122232425262729313335384042434753667586100109125145158157148146128112103106111112115115115
115
1 Includes items used for family living, not shown separately.2 Includes other production items not shown separately.3 Average for 48 States. Annual data are for March 1 of each year through 1975, February 1 for 1976-81, April 1 for 1982-85,
February 1 for 1986-89, and January 1 for 1990, 1991 and 1992.
Source: Department of Agriculture.
458
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-97.—U.S. exports and imports of agricultural commodities, 1940-92
[Billions of dollars]
Year
Exports
Total» Feedgrains
Foodgrains2
Oil-seedsand
prod-ucts
Cot-ton
To-bacco
Ani-malsand
prod-ucts
Imports
Total»
Crops,fruits,
andvege-
tables3
Ani-malsand
prod-ucts
Cof-fee
Cocoabeansand
prod-ucts
Agri-cultural
tradebalance
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
Jan-Oct:19911992
0.5.7
1.22.12.1
2.33.14.03.53.6
2.94.03.42.83.1
3.24.24.53.94.0
4.85.05.05.66.3
6.26.96.46.36.0
7.37.79.4
17.721.9
21.923.023.629.434.7
41.243.336.636.137.8
29.026.228.737.139.9
39.439.2
31.335.3
P
()0.1
.4
.1
.3
.2
.3
.3
.3
.2
.3
.4
.3
.5
.6
.5
.5
1.11.31.1.9.9
1.11.01.53.54.6
5.26.04.95.97.7
9.89.46.47.38.1
6.03.13.85.97.7
7.05.8
.4
.71.41.51.1
.61.11.1.7.5
.61.01.0.8.9
1.21.41.31.51.7
1.41.81.51.41.2
1.41.31.84.75.4
6.24.73.65.56.3
7.99.67.97.47.5
4.53.83.85.97.1
4.84.2
3.34.4
.1
.2
.3
.2
.3
.2
.2
.3
.4
.5
.5
.4
.6
.6
.6
.7
.81.0
1.21.21.31.31.3
1.92.22.44.35.7
4.55.16.68.28.9
9.49.69.18.78.4
5.86.56.47.76.3
5.76.4
0.2.1.1.2.1
.3
A.5.9
1.01.1.9.5
0.1
.81.21.3
.9
.9
.7
.5
.4
.3
.5
.3
.4
.5
.6
.7
.7
.5
.6
.6
.6
.6
.7
.91.01.11.61.8
1.72.42.73.03.8
3.84.23.93.84.2
4.14.55.26.46.4
6.77.0
5.76.6
1.31.71.31.51.8
1.72.32.83.12.9
4.05.24.54.24.0
4.04.04.03.94.1
3.83.73.94.04.1
4.14.54.55.05.0
5.85.86.58.4
10.2
9.311.013.414.816.7
17.416.815.416.619.3
20.021.520.421.021.7
22.822.7
18.920.6
.91.21.51.7
1.62.02.32.33.1
3.53.63.63.84.2
4.9
4.04.0
0.2.3.5.4.3
.4
.4
.4
.6
.4
.71.1.7.6.5
.5
.4
.5
.7
.8
.6
.7
.9
.9
.91.21.11.31.4
1.61.51.82.62.2
1.82.32.33.13.9
3.83.53.73.84.1
4.24.54.95.25.1
5.65.5
0.1.2.2.3.3
.3
.5
.6
.7
.8
1.11.41.41.51.5
1.41.41.41.21.1
1.01.01.01.01.2
1.11.11.01.2.9
1.21.21.31.71.6
1.72.94.24.04.2
4.22.92.92.83.3
3.34.62.92.52.4
1.91.9
- 0 . 8-1 .0
_ j
.6
.3
'.*1.2.3.7
-1 .1- 1 . 1- 1 . 1- 1 . 3
- . 9
.2
.6(4)
1.01.31.21.62.3
2.12.41.91.31.1
1.51.92.99.3
11.7
12.612.010.214.618.0
23.926.621.219.518.5
9.14.78.3
16.118.2
16.616.5
12.414.7
1 Total includes items not shown separately.2 Rice, wheat, and wheat flour.3 Includes nuts, fruits, and vegetable preparations.Hess than $50 million.
Note.—Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural commoditiesare defined as (1) nonmarine food products and (2) other products of agriculture which have not passed through complex processes ofmanufacture. Export value, at U.S. port of exportation, is based on the selling price and includes inland freight, insurance, and othercharges to the port. Import value, defined generally as the market value in the foreign country, excludes import duties, ocean freight,and marine insurance.
Source: Department of Agriculture.
459
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-98.—Balance sheet of the farm sector, 1939-92
[Billions of dollars]
End of year
1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
19701971197219731974 7
19751976197719781979
1980198119821983198419851986198719881989
199019911992'
Assets
Totalassets
52.6
53.761472.982.992.1
102.4116.4127.4133.2130.7
153.3170.1166.8152.8167.5173.0182.2191.5207.0210.4
210.0217.8225.6233.9242.2259.9273.3287.2300.4311.6
324.3350.1393.0477.9513.2579.5667.7735.0862.0
1,001.5
1 089.01,088.91,056.21,063.6
975.7892.8847.7911.3951.5985.8
1,003.61,004.11,011
Physical assets
Realestate
33.6
34.036.641.547.752.960.568.773.576.075.1
88.998.7
100.098.9
102.5108.2116.1122.7131.5138.4
139.7145.8151 5159.7168.7180.8190 7201.4211.0217.1
224.52409268.7329.2369.5421.0499.8556.5656.0767.8
8501851.7819.1829.3735.0657.0613.0658.6682.2703.9
711.4705.6705
Nonreal estate
Live-stockand
poul-try »
5.1
5.3719.69.79.09.7
11.913.314.412.9
17.119 514.811.711.210.611.013.917.715.2
15.616.417 315.914.417.619.018.820.222.5
23.727 333.742.424.629.429.031.950.161.4
60 653.553.049.549.546.347.858062.266.2
70.968.472
Machin-ery andmotor
vehicles
3.1
3.34.04.95.46.5545.37.4
10 112.2
14.116.717.418.418.719.320 220.121.822.7
22.222.523 523.924.826.027 429.831.332.3
34.436 739.344.253.663.170.176.476.482.9
86 992.592.692.191.188386.184.586.189.2
88.688.088
Crops 2
2.2
2.3324.35.56.0607.0897.45.9
7.1827.96.87.56.5686.46.96.26.26.3637.26.87.7797.77.28.18597
12.721.222.520.520.620.523.829.9
32 729.525.823.626.122916.317.523.323.4
22.823.623
Pur-chased
in-puts 3
2.01.22.13.23526
2.82.53
House-hold
equip-mentand
furnish-ings
4.2
4.1484.84.75.25.67.28.18.98.4
9.610.09.6959.7
10.0969.6949.28.78.9888'88.484838.89.49.6
10 010811.912.314.014215.217220.021.5
19.420.823.024.424.327.828.732.9370422
46.450.453
Financial assets
Invest-ments incooper-atives
0.8
.99
1.01.11.21.71.92.02.22.4
2.7293.23.33.53.7404.24.54.84.24.5465.05.25.4575.86.16.47 27'98.79.7
11.213.014.313.516.118.1
19.320.621.922 824.324.324.425.325.1
Other4
3.5
3.9476.58.8
11.313.514.414.314.213.8
13.814.114.114.214.414.614 414.615.113.8
13.313.313 611513.814.114 214.715.215.6
16 016818.019.017.818.418.719.019.719.9
20.020.320.921823.425.029.431.4321
26.3J 32.0
27528.429
• 33.337.239
Claims
Totalclaims
52.6
53.761472.982.992.1
102.4116.4127.4133.2130.7
153.3170.1166.8162.8167.5173.0182 2191.5207.0210.4
210.0217.8225 6233.9242.2259.9273.3287.2300.4311.6
324.3350 1393.0477.9513.2579.5667.7735.0862.0
1,001.5
1089 01,088.91,056.21,0636
975.7892.8847.7911.3951.5985.8
1,003.61,004.1LOU
Realestatedebt5
6.6
6.5646.05.44.94.84.95.15.35.6
6.16.77.37.88.39.09.9
10.411.112.1
12.914.015 216.918.921.223 125.227.529.4
30.532.435.439.844.949.955.463.972.886897 5
107.2111.31137112.3105.795.987.783.080.5
78.479 1
L "
Non-real
estatedebt6
3.0
3.3353.22.92.72.93.54.14.95.2
6.17.47.76.87.27.98.08.8
10.111.5
12.012.714 215.716.418.119.820.820.421.2
22.325.128.033.136.741.647.855.063.875781288.291.892.792.082.270.866.065.665566.767868
Propri-etors'equity
43.0
43.851563.774.584.494.8
108.1118.3123.0119.9
141.1156.0151.9148.2152.0156.0164.4172.3185.8186.8
185.1191.1196.2201.4206.8220.6230.4241.1252.5261.0
271.5292.6329.7405.0431.6488.0564.6616.1725.4839.1
910 3893.5853.1857.1771.4704.9681.0757.6802.9839.8
858.5857.1863
f Forecast.1 Excludes commercial broilers; also excludes horses and mules beginning 1959, and turkeys beginning 1986.2 Non-Commodity Credit Corporation (CCC) crops held on farms plus value above loan rate for crops held under CCC.3 Includes fertilizer, chemicals, fuels, parts, feed, seed, and other supplies.4 Sum of currency, demand deposits, time deposits, and U.S. savings bonds.5 Includes CCC storage and drying facilities loans.6 Does not include CCC crop loans.7 Beginning 1974, data are for farms included in the new farm definition, that is, places with sales of $1,000 or more annually.
Note.—Data include operator households.
Beginning 1959, data include Alaska and Hawaii.
Source: Department of Agriculture.
460
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICS
TABLE B-99.—International investment position of the United States at year-end, 1983-91
[Billions of dollars]
Type ofinvestment 1983 1984 1985 1986 1987 1988 1989 1990 1991
NET ̂ INTERNATIONAL INVESTMENT POSITION OF THE
With direct investment at current costWith direct investment at market value
U.S. ASSETS ABROAD:With direct investment at current costWith direct investment at market value
U.S. official reserve assetsGold 1
Special drawing rightsReserve position in the International Monetary
FundForeign currencies
U.S. Government assets other than official re-serves
U.S. credits and other long-term assetsRepayable in dollarsOther
U.S. foreign currency holdings and U.S. short-term assets
337.4267.6
1,169.21,068.3
123.1100.5
5.0
11.36.3
79.677.876.01.8
1.8
232.9175.9
1,177.51,081.8
105.081.25.6
11.56.7
85.082.981.11.8
2.1
U.S. private assets:With direct investment at current costWith direct investment at market value
Direct investment abroad:At current costAt market value
Foreign securitiesBondsCorporate stocks
U.S. claims on unaffiliated foreignersreported by U.S. nonbanking concerns
U.S. claims reported by U.S. banks,not included elsewhere
FOREIGN ASSETS IN THE UNITED STATES:With direct investment at current costWith direct investment at market value
Foreign official assets in the United StatesU.S. Government securities
U.S. Treasury securitiesOther
Other U.S. Government liabilitiesU.S. liabilities reported by U.S. banks, not j
included elsewhereOther foreign official assets
Other foreign assets in the United States.With direct investment at current costWith direct investment at market value . ...
Direct investment in the United States:At current cost jAt market value
U.S. Treasury securitiesU.S. securities other than U.S. Treasury securi- !
ties |Corporate and other bonds !Corporate stocks j
US. liabilities to unaffiliated foreigners reported Iby U.S. nonbanking concerns I
US liabilities reported by U.S. banks, not in- !eluded elsewhere !
966.4 987.5865.5 891.8
371.7270.8
84.758.6
26.2
75.5
434.5
831.8800.7
194.5137.0129.7
7.314.2
25.517.7
637.3606.2
184.4153.333.8
361.6265.8
62.826.0
91.5
445.6
944.7905.9
199.7144.7138.2
6.515.0
26.114.0
745.0706.2
139.0142.2
1,252.51,244.5
117.985.87.3
11.912.9
87.885.884.11.7
1.9
1,046.91,038.8
18.7109.1
1,410.21,507.7
139.9102.4
8.4
11.717.3
89.688.787.11.6
1,180.7
- 2 6 . 654.2
1,564.71,648.4
162.4127.6
10.3
11.313.1
88.988.186.51.6
1,313.51,278.2 1,397.1
-183.7-38.0
1,654.61,817.5
144.2107.4
9.6
9.717.4
85.985.483.91.5
.5
1,424 51,587.5
387.2379.1114.773.741.0
97.6
447.4
1,113.61,102.3
202.5145.1138.4
6.6158
26.7 !14.9
911.18998
421.2518.7145.982.963.0
106.3
507.3
1,391.51,398.6
241.2178.9173.3
5.618.0
27916.4
1,150.21,157.4
493.3 515.7577.01 678.6164.795.169.6
106.0
549.5
1,591.41,594.1
283.1220.5213.7
6.815.7
31.8 !15.0 !
183.197.186.0
117.7
608.0
1,838.31,855.5
322.0260.9253.0
8.015.2 |
31.514.4
-312.3-158.8
1,794.72,049.8
168.7105.2
10.0
9.044.6
84.684.282.71.5
.3
1,541.51,796.5
552.8807.9220.9101.0119.9
106.1
661.7
2,107.02,208.6
337.3265.7256.1
9.615.3
36.519.7
1,308.31,311.1
1.516.3 1,769.71.533.4 1,871.3
211.2 231.3 265.8 313.5172.4 220.0 273.0 316.262.1 88.0 96.1 82.6
113.8| 128.5 207.9 I 309.8 | 341.7117 5 ' 32.4 82.3! 140.9! 166.1 i96.4 | 96.1 | 125.6 j 168.9 ; 175.6 j
26.9 31.01 29 51 26.91 29 8
278.3 312.2 | 354.5 | 451.6 j 540.7 1i i i i . L . l
1 Valued at market price.
Note For details regarding these data, see Survey of Current Business, June 1991 and June 1992.
Source: Department of Commerce, Bureau of Economic Analysis.
3743391.5 !100.9 |
392.3 I191.3 i
201.0J
35 0 I
613.7!
-294.8-272.0
1,884.21,977.1
174.7102.4
11.0
9.152.2
82.281.880.51.3
.4
1,627.31,720.2
• 623.6716.4241.7131.7110.0
109.8
652.1
433.2534.7134.5
484.42238260.6
40.5
677.1
-361.5-381.8
1,960.32,107.0
159.292.611.2
9.545.9
78.777.476.11.2
1.4
1,722.31,869.1
655.3802.0305.9147.6158.3
104.4
656.8
2.179.0 2,321.82.249.1 2,488.9
371.1 396.6297.0 318.0286.7 305.9
10..?! 12.118.8
10.317.2
39.917.0
1,807.91,878.0
466.5536.6130.7
38.421.4
1,925.22,092.3
487.0654 1154.7
471.9 j 559.7240.7! 277 0231.21 282.6
45 4 i 43.8
693.4! 680.1
461
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-100.—U.S. international transactions, 1946-92
[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits ( + ), debits ( - ) ]
Year orquarter
1946194719481949
1950195119521953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
19901991
1990:1||IIIIV
1991:1IIIllIV
1 9 9 2 :1IIIll P.
Merchandise
Exports
11,76416,09713,26512,213
10,20314,24313,44912,41212,92914,42417,55619,56216,41416,458
19,65020,10820,78122,27225,50126,46129,31030,66633,62636,414
42,46943,31949,38171,41098,306
107,088114,745120,816142,075184,439
224,250237,044211,157201,799219,926215,915223,344250,208320,230361,697
388,705415,962
94,98196 65496,544
100,526
100 636103,324104,151107,851
107,946107,464110,812
Imports
-5,067-5,973-7,557-6,874
-9,081-11,176-10,838-10,975-10,353-11,527-12,803-13,291-12,952-15,310
-14,758-14,537-16,260-17,048-18,700-21,510-25,493-26,866-32,991-35,807
-39,866-45,579-55,797-70,499
-103,811-98,185
-124,228-151,907-176,002-212,007
-249,750-265,067-247,642-268,901-332,418-338,088-368,425-409,765-447,189-477,365
-497,558-489,398
-122,360-121461-125>34-128,303
- 1 1 8 962-119721-124,325-126,390
-125,168-132,022-137,350
2
Net
6,69710,1245,7085,339
1,1223,0672,6111,4372,5762,8974,7536,2713,4621,148
4,8925,5714,5215,2246,8014,9513,8173,800
635607
2,603-2,260-6,416
911-5,505
8,903-9,483
-31,091-33,927-27,568
-25,500-28,023-36,485-67,102
-112,492-122,173-145,081-159,557-126,959-115,668
-108,853-73,436
-27,379- 2 4 807- 28^890-27,777
- 1 8 326- 1 6 ^ 9 7-20,174-18,539
-17,222-24,558-26,538
Netmilitarytransac-tions3 4
- 4 2 4- 3 5 8- 3 5 1- 4 1 0
-56169528
1,753902
- 1 1 3- 2 2 1- 4 2 3- 8 4 9- 8 3 1
-1,057-1,131
- 9 1 2- 7 4 2- 7 9 4-487
-1,043-1,187
- 5 9 6- 7 1 8
- 6 4 1653
1,072740165
1,461931
1,731857
-1,313
-1,822- 8 4 4
112- 5 6 3
-2,547-4,390-5,181-3,812-6,354-6,838
-7,818-5,524
-1,873- 1 627- 1 3 9 2-2,627
- 2 564- M 2 7
- 9 9 4- 5 3 9
- 6 2 5- 6 2 3- 5 4 8
Services
Nettraveland
transpor-tation
receipts
733946374230
- 1 2 029883
- 2 3 8- 2 6 9- 2 9 7- 3 6 1- 1 8 9- 6 3 3- 8 2 1
- 9 6 4- 9 7 8
-1,152-1,309-1,146-1,280-1,331-1,750-1,548-1,763
-2,038-2,345-3,063-3,158-3,184-2,812-2,558-3,565-3,573-2,935
-997144
- 9 9 2-4,227-8,293-9,709-7,324-6,398-1,370
5,851
10,14217,118
2,0932 0732J203,855
3 7553^9294,3585,080
4,4014,2164,024
Otherservices,
notnei
310145175208242254309307305299447482486573639732912
1,0361,1611,4801,4971,7421,7591,964
2,3302,6492,9653,4064,2314,8545,0275,6806,8797,251
8,91212,55213,20914,09514,27714,26618,85518,40020,43026,752
29,73033,701
6,9847 237l',AS\8,051
8 1648^2808,6608,596
10,0679,045
12,149
Investment income
Receiptson U.S.assetsabroad
7721,1021,9211,831
2,0682,6332,7512,7362,9293,4063,8374,1803,7904,132
4,6164,9995,6186,1576,8247,4377,5288,0219,367
10,913
11,74812,70714,76521,80827,58725,35129,37532,35442,08863,834
72,60686,52986,20085,614
100,41591,11088,99896,574
119,456140,692
143,547125,315
35,00434 58635^13738,821
35 49831>1529,90428,698
28,49928,45227,756
Paymentson foreignassets in
U.S.
- 2 1 2- 2 4 5-437- 4 7 6
- 5 5 9- 5 8 3- 5 5 5- 6 2 4- 5 8 2- 6 7 6- 7 3 5- 7 9 6- 8 2 5
-1,061
-1,238-1,245-1,324-1,560-1,783-2,088-2,481-2,747-3,378-4,869
-5,515-5,435-6,572-9,655
-12,084-12,564-13,311-14,217-21,680-32,961
-42,532-53,626-56,412-53,700-69,572-67,875-73,620-85,629
-106,991-126,326
-124,261-108,886
-30,676- 3 1 386-30^913-31,289
- 28 533-27^284-26,828-26,240
-24,025-26,522-24,205
Net
560857
1,4841,355
1,5092,0502,1962,1122,3472,7303,1023,3842,9653,071
3,3793,7554,2944,5965,0415,3505,0475,2745,9906,044
6,2337,2728,192
12,15315,50312,78716,06318,13720,40830,873
30,07332,90329,78831,91530,84323,23515,37810,94512,46614,366
19,28716,429
4,3283 2004^2247,532
6 96533313,0762,458
4,4741,9303,551
Balanceon goods,services,
andaiiuincome
7,87611,7147,3906,722
2,6975,8385,7275,3715,8615,5167,7209,5255,4313,140
6,8867,9497,6648,806
11,06310,0147,9877,8786,2406,135
8,4865,9692,749
14,05311,21025,1919,982
-9,109-9,355
6,308
10,66616,7325,632
-25,882-78,212-98,771
-123,354-140,421-101,787-75,537
-57,511-11,710
-15,847- 1 3 924-16>77-10,966
- 2 006- l ]684-5,075-2,945
1,096-9,990-7,362
Unilateraltransfers,
net 4
-2,991-2,722-4,973-5,849
-4,537-4,954-5,113-6,657-5,642-5,086-4,990-4,763-4,647-4,422
-4,062-4,127-4,277-4,392-4,240-4,583-4,955-5,294-5,629-5,735
-6,156-7,402-8,544-6,913
5 -9,249-7,075-5,686-5,226-5,788-6,593
-8,349-11,702-17,075-17,741-20,612-22,950-24,176-23,052-24,869-25,606
-32,9168,028
-6,538- 7 401-7^201
-11,778
14 1994J15
-6,012-4,273
-6,999-7,812-6,876
Balanceon
currentaccount
4,8858,9922,417
873-1,840
884614
-1,286219430
2,7304,762
784-1,282
2,8243,8223,3874,4146,8235,4313,0312,583
611399
2,331-1,433-5,795
7,1401,962
18,1164,295
-14,335-15,143
- 2 8 5
2,3175,030
-11,443-43,623-98,824
-121,721-147,529-163,474-126,656-101,143
-90,428-3,682
-22,385- 2 1 325-23,978-22,744
12 1932^431
-11,087-7,218
-5,903-17,802-14,238
1 Excludes military.2 Adjusted from Census data for differences in valuation, coverage, and timing.3 Quarterly data are not seasonally adjusted.4 Includes transfers of goods and services under U.S. military grant programs.
See next page for continuation of table.
462
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-100.—U.S. international transactions, 1946-92—Continued
[Millions of dollars; quarterly data seasonally adjusted, except as noted]
Year orquarter
1946194719481949
195019511952 .1953195419551956195719581959
1960196119621963196419651966196719681969
1970197119721973197419751976197719781979
1980...198119821983...198419851986198719881989
19901991
1990:1IIIllIV
1991:1IIIllIV
1992:1IIIll"
U.S. assets abroad, net[increase/capital outflow ( - ) ]
Total
-4,099-5,538-4,174-7,270-9,560-5,716-7,321-9,757
-10,977-11,585
-9,337-12,475-14,497-22,874-34,745-39,703-51,269-34,785-61,130-66,054
-86,967-114,147-122,335
-58,856-29,224-34,069-91,069-62,402-92,708
-114,944
-56,321-62,220
42,141-30,682-30,964-36,816
- 6 4 0-7,050
-10,368-44,158
-4,25037
-20,157
U.S.officialreserve
assets3 6
623- 3 315
1736- 2 6 6
1,758-33
- 4 1 51,256
480182869
-1,1652,2921,035
2,145607
1,535378171
1,225570
53-870
-1,179
2,4812,349
- 4158
-1,467-849
-2,558- 3 7 5
732-1,133
-8,155-5,175-4,965-1,196-3,131-3,858
3129,149
-3,912-25,293
-2,1585,763
-3,177371
1,739-1,091
3531,0143,8771,225
-1,0571,4641,952
OtherU.S.
Govern-ment
assets
-1,100- 9 1 0
-1,085-1,662-1,680-1,605-1,543-2,423-2,274-2,200
-1,589-1,884-1,568-2,644
5 366-3,474-4,214-3,693-4,660-3,746
-5,162-5,097-6,131-5,006-5,489-2,821-2,022
1,0062,9671,271
2,3043,397
- 7 4 3- 7 9 4-3374,179
1,073- 4 2 03,180-437
- 3 8-111- 3 8 5
U.S.privateassets
-5,144-5,235-4,623-5,986-8,050-5,336-6,347-7,386-7,833-8,206
-10,229-12,940-12,925-20,388-33,643-35,380-44,498-30,717-57,202-61,176
-73,651-103,875-111,239-52,654-20,605-27,391-89,360-72,556-91,762-90,922
-56,467-71,379
46,061-30,259-32,366-39,903
1,360-7,64417,426
-44,947
-3 ,155-1,150
-21,724
Foreign assets in the U.S., net[increase/capital inflow ( + )]
Total
2,2942,7051,9113,2173,643
7423,6617,3799,928
12,702
6,35922,97021,46118,38834,24115,67036,51851,31964,03638,752
58,11283,03292,41883,380
102,010130,966223,191229,972219,489213,693
99,37966,980
-30,96530,85351,38648,108
7,8402,959
22,93348,929
18,56347,41517,286
Foreignofficialassets 3
1,473765
1,2701,9861,660
134- 6 7 23,451- 7 7 4
-1,301
6,90826,87910,4756,026
10,5467,027
17,69336,81633,678
-13,665
15,4974,9603,5935,8453,140
-1,11935,64845,38739,758
8,489
33,90818,407
-6,4506,134
14,09720,127
5,650-4,178
4,11512,819
21,19220,895
-7,738
Otherforeignassets
8211,939
6411,2311,983
6074,3333,928
10,70314,002
- 5 5 0-3,90910,98612,36223,696
8,64318,82614,50330,35852,416
42,61578,07288,82677,53498,870
132,084187,543184,585179,731205,204
65,47148,573
-24,51524,71937,28927,981
13,4907,137
18,81836,110
-2,62926,52025,024
Alloca-tions ofspecialdrawingrights(SDRs)
867717710
1,139
1,1521,093
Statisticaldiscrepancy
Total(sum of
the itemswith signreversed)
-1,019-989
-1,124- 3 6 0-907- 4 5 7
629- 2 0 5
438-1,516
-219-9,779-1,879-2,654-1,458
5,91710,455
-2,19912,23626,449
25,38624,99241,35919,09926,03824,82515,407
-4,096- 1 2 62,394
47,370-1,078
11,20921,1543,556
11,452
-3,7131,660
-1,4782,447
-8,410-29,650
17,109
Of which:Seasonaladjust-ment
discrep-ancy
4,489518
-5,605600
4,636883
-6,137613
4,023410
-7,680
5 Includes extraordinary U.S. Government transactions with India.6 Consists of gold, special drawing rights, foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF).Source: Department of Commerce, Bureau of Economic Analysis.
463
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-101.—U.S. merchandise exports and imports by principal end-use category, 1965-92
[Billions of dollars; quarterly data seasonally adjusted]
Year orquarter
19651966196719681969
19701971197219731974
1975197619771978 »1979
19801981198219831984
19851986198719881989
19901991
1990: IIIIllIV
1991: IIIIllIV
1992: IIIIll
Exports
Total
26.529.330.733.636.4
42 543.349.471.498.3
107.1114.7120.8142.1184.4
224.3237.0211.2201.8219.9
215.9223.3250.2320.2361.7
388.7416.0
95.096.796.5
100.5
100.6103.3104.2107.9
107.9107.5110.8
Agri-cultur-
alprod-ucts
636.96.56.36.1
7.47.89.5
18.022.4
22 223.424.329.935.5
42.044.137.337.138.4
29.627.229.538.242.2
40.240.1
10.710.19.99.5
9.89.4
10.210.8
10.810.511.6
Total
20.222.424.227.330.3
35.135.539.953.475.9
84.891.496.5
112.2149.0
182.2193.0173.9164.7181.5
186.3196.2220.7282.0319.5
348.5375.8
84.286.586.791.1
90.894.094.097.1
97.197.099.2
Nonagricultural products
indus-trial
suppliesand
mate-rials
7.68.28.59.6
10.3
12.310.911.917.026.3
26.828.429.834.252.2
65.163.657.752.756.8
54.859.463.782.691.9
97.1101.8
23.223.324.026.6
26.425.325.125.0
24.925.125.8
Capitalgoodsexcept
automo-tive
818.99.9
11.112.4
14.715.416.922.030.9
36.639.139.847.560.2
76.384.276.571.777.0
79.382.892.7
119.1139.6
153.3167.0
37.738.638.338.8
38.942.341.744.1
44.143.543.6
Auto-motive
192.42.83.53.9
3.94.75.56.98.6
10 612.113.415.217.9
17.419.717.218.522.4
24.925.127.633.434.9
36.540 0
8.89.59.38.8
8.89.9
10.910.4
10.711.512.2
Other
2.62.93.03.23.7
4.34.55.67.6
10.0
10.811.713.515.318.7
23.425.522.421.825.3
27.228.936.846.953.1
61.766.9
14.615.115.116.9
16.816.416.317.6
17.416.917.5
Imports
Total
21525.526.933.035.8
39.945.655.870.5
103.8
98.2124.2151.9176.0212.0
249.8265.1247.6268.9332.4
338.1368.4409.8447.2477.4
497.6489.4
122.4121.5125.4128.3
119.0119.7124.3126.4
125.2132.0137.4
Petro-leumand
prod-ucts
202.12.12.42.6
2.93.74.78.4
26.6
27.034.645.042.660.4
79.578.462.055.158.1
51.434.342.939.650.9
62.351.2
15.812.815.518.2
12.912.913.112.2
10.412.914.2
Total
19.523.424.830.633.2
36.941.951.162.177.2
71.289.7
106.9133.4151.6
170.2186.7185.7213.8274.4
286.7334.1366.8407.6426.4
435.3438.2
106.6108.6110.0110.1
106.0106.8111.2114.2
114.8119.1123.1
Nonpetroleum products
Indus-trial
suppliesand
mate-rials
9110.210.012.011.8
12 413.816.319.627.8
24 029.835.740.747.5
53.056.148.653.766.1
62.669.970.883.184.2
82.580.9
20.220.520.820.9
19.920.120.020.8
21.122.122.0
Capitalgoodsexcept
automo-tive
1.52.22.52.83.4
4.04.35.98.39.8
10.212.314.019.324.6
31.637.138.443.760.4
61.372.085.1
102.2112.5
116.0120.7
28.428.828.930.0
29.830.130.330.5
31.332.834.5
Auto-motive
0.91.82.44.04.9
5.57.48.7
10.312.0
11.716.218.625.026.6
28.331.034.343.056.5
64.978.185.287.987.4
87.784.9
21.222.222.621.7
20.319.822.722.2
22.022.422.8
Other
8.09.29.9
11.813.0
15.016.420.223.927.5
25 331.438.648.452.8
57.462.464.373.391.4
97.9114.2125.7134.4142.4
149.0151.7
36.737.137.737.5
36.036.838.240.7
40.541.843.8
1 End-use categories beginning 1978 are not strictly comparable with data for earlier periods. See Survey of Current Business, June 1988.
Note.—Data are on an international transactions basis and exclude military.In June 1990, end-use categories for merchandise exports were redefined to include reexports; beginning with data for 1978,
reexports (exports of foreign merchandise) are assigned to detailed end-use categories in the same manner as exports of domesticmerchandise.
Source: Department of Commerce, Bureau of Economic Analysis.
464
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-102.—U.S. merchandise exports and imports by area, 1983-92
[Billions of dollars]
Item
Exports
Industrial countries
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated
Imports
Industrial countries
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated
Balance (excess ofexports + )
Industrial countries
Canada .JapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated
1983
201.8
128.3
44.521.855.4
6.6
3.9
70.4
15.355.2
3.0
.1
268.9
160.1
55.243.356.2
5.4
2.2
107.4
24.982.5
1.4
- 6 7 . 1
- 3 1 . 8
- 1 0 . 7- 2 1 . 6
- . 8
1.2
1.7
- 3 7 . 0
- 9 . 7- 2 7 . 3
1.6
.1
1984
219.9
141.0
53.023.256.9
7.8
4.9
74.6
13.860.8
4.3
.0
332.4
205.5
67.660.272.1
5.6
2.8
124.7
26.997.8
2.2
- 1 1 2 . 5
- 6 4 . 5
- 1 4 . 6- 3 7 . 0- 1 5 . 2
2.2
2.1
- 5 0 . 1
- 1 3 . 1- 3 7 . 0
2.1
.0
1985
215.9
140.5
55.422.156.0
7.0
5.1
71.9
11.460.5
3.2
.2
338.1
219.0
70.265.777.5
5.6
2.7
117.3
22.894.5
1.8
- 1 2 2 . 2
- 7 8 . 4
- 1 4 . 8- 4 3 . 5- 2 1 . 4
1.4
2.4
- 4 5 . 3
- 1 1 . 4- 3 3 . 9
1.4
.2
1986
223.3
150.3
56.526.460.4
7.1
5.1
71.0
10.460.6
2.1
368.4
245.4
69.780.889.0
5.9
2.6
121.1
18.9102.2
2.0
- 1 4 5 . 1
- 9 5 . 1
- 1 3 . 2- 5 4 . 4- 2 8 . 6
1.1
2.5
- 5 0 . 1
- 8 . 5- 4 1 . 6
.1
1987
250.2
165.6
62.027.668.6
7.4
5.3
82.3
10.771.6
2.3
409.8
259.7
73.684.696.1
5.4
3.0
148.2
24.4123.8
1.9
- 1 5 9 . 6
- 9 4 . 1
- 1 1 . 6- 5 6 . 9- 2 7 . 5
2.0
2.3
- 6 5 . 8
- 1 3 . 7- 5 2 . 1
.3
1988
320.2
207.3
74.337.286.4
9.4
6.8
109.1
13.895.3
3.8
.1
447.2
283.2
84.689.8
102.6
6.2
3.5
161.8
23.0138.8
2.2
- 1 2 7 . 0
- 7 5 . 9
- 1 0 . 3- 5 2 . 6- 1 6 . 2
3.2
3.3
- 5 2 . 7
- 9 . 2- 4 3 . 5
1.6
.1
1989
361.7
233.8
80.743.998.4
10.9
8.1
122.2
13.3108.9
5.5
.2
477.4
292.5
89.993.5
102.4
6.6
3.9
182.8
30.7152.1
2.1
- 1 1 5 . 7
- 5 8 . 7
- 9 . 3- 4 9 . 7
- 4 . 0
4.2
4.2
- 6 0 . 6
- 1 7 . 4- 4 3 . 2
3.5
.2
1990
388.7
253.2
82.947.8
111.4
11.2
8.3
130.6
13.4117.2
4.3
.6
497.6
299.1
93.189.6
109.2
7.3
4.4
196.1
38.2157.9
2.3
- 108 .9
- 4 5 . 9
- 1 0 . 2- 4 1 . 8
2.2
3.9
3.9
- 6 5 . 6
- 2 4 . 8- 4 0 . 7
2.1
.6
1991
416.0
260.4
85.047.2
116.8
11.4
8.3
150.3
18.4131.9
4.8
.4
489.4
293.3
93.091.5
101.9
6.9
4.0
194.3
33.1161.2
1.8
- 7 3 . 4
- 3 2 . 9
- 8 . 0- 4 4 . 3
14.9
4.5
4.3
- 4 3 . 9
- 1 4 . 6- 2 9 . 3
3.0
.4
1992 first3 quartersat annual
rate1
435.0
263.8
90.447.2
114.4
11.8
8.3
165.9
20.7145.2
5.3
526.1
309.0
100.294.0
108.1
6.8
3.7
215.1
32.5182.6
2.0
- 9 1 . 1
- 4 5 . 2
- 9 . 8- 4 6 . 8
6.3
5.0
4.5
- 4 9 . 2
- 1 1 . 8- 3 7 . 4
3.3
1 Preliminary; seasonally adjusted.2 Organization of Petroleum Exporting Countries, consisting of Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3 Latin America, other Western Hemisphere, and other countries in Asia and Africa, less members of OPEC.
Note.—Data are on an international transactions basis and exclude military.
Source: Department of Commerce, Bureau of Economic Analysis.
465Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-103.—U.S. merchandise exports, imports, and trade balance, 1972-92
[Billions of dollars; monthly data seasonally adjusted]
Year ormonth
19721973
1974197519761977197819791980
19811982198319841985198619871988198919901991
JanFebMarAprMayJuneJulyAugSeptOctNovDec
1992:JanFebMarAprMayJuneJulyAugSeptOct
I
Total2
Merchandise exports (f.a.s. talue) »
Principal end-use commodity category
Foods,feeds,
anrfbev-er-
ages
In-dus-trialsup-pliesandma-teri-als
Cap-ital
goods
ceptauto-mo-tive
Auto-mo-tivevehi-cles,
parts,anden-
gines
Con-sum-
er
(non-food)
ex-ceptauto-mo-tive
Other2
F.a.s. value5
49 971.9
99 4108 91168123 2145 8186.4225.6
238.7216.4205.6224.0
7 218.87 227.2
254.1322.4363.8393.6421.7
34.333.734.235.535.034.735.234.535.336.837.336.1
35.537.737.136.435.738.237.835.837.939.2
31.330.931.524.022.324.332.337.235.135.7
2.73.03.02.92.92.73.13.03.13.23.23.3
3.13.63.33.53.03.13.53.33.73.7
61.756.761.758.557.366.785.199.3
104.4109.7
9.59.99.09.29.48.79.19.18.69.38.98.9
9.38.98.88.88.99.39.68.79.19.6
72.767.272.073.975.886.2
109.2138.8152.7166.7
13.012.413.514.313.714.313.713.414.414.415.414.3
13.915.314.914.313.915.314.514.015.015.4
15.716.820.622.921.724.629.334.837.440.0
3.32.63.03.43.43.53.63.33.53.73.63.3
3.23.63.94.03.84.03.93.73.83.8
14.313.413.312.614.217.723.136.443.345.9
3.93.83.83.83.73.73.73.73.84.14.13.8
3.94.14.03.94.04.24.34.14.54.6
20.720.524.027.335.934.643.417.220.723.7
1.91.91.91.9?.O1.92.01.91.92.12.12.3
2.02.12.32.02.12.22.02.12.02.2
General merchandise imports (customs value)3
Total
Principal end-use commodity category
Foods,feeds,
bev-er-
ages
In-dus-trialsup-pliesandma-teri-als
Cap-ital
goods
ceptauto-mo-tive
Auto-mo-tivevehi-cles,
parts,anden-
gines
Con-sum-
ergoods(non-food)
ex-ceptauto-mo-tive
Other
Customs value
55 669.5
103 399 3
124 61515176 1210.3245.3
2610244.0258.0
6 330.76 336.5
365.4406.2441.0473.2495.3487.1
41.239,038.539.740.039.440.841.141.842.741.441.7
41.341.042.743.542.945.045.144.846.546.2
17.118.221.021.924.424.824.825.126.626.5
2.22.12.22.32.32.32.22.12.22,12.22.3
2.32.22.32.42.22.62.52.32.32.3
F.a.s. value5
Customs value
112.0107.0123.7113.9101.3111.0118.3132.3143.2131.0
12.210.610.110.811.310.610.710.911.111.110.810.8
10.610.410.711.311.412.012.011.812.012.3
35.440.959.865.171.884.5
101.4113.3116.4120.7
9.89.9
10.110.19.9
10.010.210.010.210.39.9
10.3
10.310.310.710.810.811.211.311.511.711.8
33.340.853.566.878.285.287.786.187.384.9
7.26.76.66.86.66.67.47.97.47.77.27.2
7.37.17.57.77.37.47.47.67.87.6
39.744.960.068.379.488.795.9
102.9105.7108.0
8.68.58.38.58.58.49.18.99.4
10.09.89.8
9.59.69.99.89.8
10.210.510.311.210.7
6.56.37.89.4
10.412.112.813.616.115.9
1.31.21.31.31.51.51.31.31.31.41.41.3
1.31.51.61.41.31.51.51.31.41.5
Toneralmer-chan-diseim-
ports(c.i.f.
value)4
58 973.2
110 9105 9132 5160 4186 0222.2257.0
273 4254.9269.9346.4352.5382.3424.4459.5493.2517.0508.4
43.040.740.241.641.841.142.642.843.644.543.143.4
43.142.644.545.344.646.746.946.648.348.0
Trade balance
Ex-
(f.a.s.)lessim-
(cus-tomsval-ue)
- 5 72.4
399678
28 430 2
-23 .9-19 .7
-22 .3- 2 7 . 5-52 .4
-106.7-117.7-138 .3-152.1-118.5-109.4-101.7-65 .4
- 6 . 9- 5 . 3- 4 . 3- 4 . 3- 5 . 0- 4 . 7- 5 . 6- 6 . 6- 6 . 5- 5 . 9- 4 . 1- 5 . 6
- 5 . 8- 3 . 3- 5 . 6- 7 . 1- 7 . 2- 6 . 8- 7 . 3- 9 . 0- 8 . 6- 7 . 0
Ex-ports
(f.a.s.)lessim-
ports(ci.f.)
- 9 0- 1 3
- 1 1 430
15 737 240 2
-35 .9-31 .4
-34 .6- 3 8 . 4-64 .2
-122.4-133 .6-155.1-170.2-137.1-129.4-123.4-86 .6
- 8 . 7- 7 . 0- 6 . 1- 6 . 1- 6 . 8- 6 . 4- 7 . 4- 8 . 4- 8 . 3- 7 . 6- 5 . 8- 7 . 4
- 7 . 6- 5 . 0- 7 . 4- 8 . 9- 8 . 9- 8 . 5- 9 . 1
-10 .8- 1 0 . 4
- 8 . 9
1 Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance Program are excludedfrom total exports through 1985 and included beginning 1986.
2 Includes undocumented exports to Canada through 1988. Beginning 1989, undocumented exports to Canada are included in theappropriate end-use category.
3 Total arrivals of imported goods other than intransit shipments.4 Ci.f. (cost, insurance, and freight) import value at first port of entry into United States. Data for 1967-73 are estimates.5 F.a.s. (free alongside ship) value basis at U.S. port of exportation for exports and at foreign port of exportation for imports.6 Total includes revisions not reflected in detail.7 Total exports are on a revised statistical month basis; end-use categories are on a statistical month basis.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately prior to 1969.
Trade in gold is included beginning 1974. Export statistics cover all merchandise shipped from the U.S. customs area, except suppliesfor the US. Armed Forces. Exports include shipments under Agency for International Development and Food for Peace programs as wellas other private relief shipments.
Data beginning 1974 include trade of the U.S. Virgin Islands.Source: Department of Commerce, Bureau of the Census.
466
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-104.—International reserves, selected years, 1952-92
[Millions of SDRs; end of period]
Area and country 1952 1962 1972 1982 1989 1990 19911992
Oct Nov
All countries
Industrial countries *
United StatesCanadaAustraliaJapanNew Zealand
AustriaBelgiumDenmarkFinlandFrance
GermanyGreeceIcelandIrelandItalyNetherlands
NorwayPortugalSpainSwedenSwitzerlandUnited Kingdom
Developing countries: Total2
By area:
AfricaAsia2
EuropeMiddle EastWestern Hemisphere
Memo:
Oil-exporting countriesNon-oil developing countries2
49,388
39,280
24,7141,944920
1,101183
1161,133150132686
960948
318722953
164603134504
1,6671,956
9,648
1,7863,793269
1,1832,616
1,6997,949
62,851
53,502
17,2202,5611,1682,021251
1,0811,753256237
4,049
6,95828732
3594,0681,943
304680
1,045802
2,9193,308
9,349
2,1102,772381
1,8052,282
2,0307,319
146,658
113,362
12,1125,5725,65616,916
767
2,5053,564787664
9,224
21,90895078
1,0385,6054,407
1,2202,1294,6181,4536,9615,201
33,295
3,9628,1292,6809,4369,089
9,95623,339
361,253
214,014
29,9183,4286,053
22,001577
5,5444,7572,1111,420
17,850
43,909916133
2,39015,10810,723
6,2721,1797,4503,397
16,93011,904
147,239
7,73444,490
5,35964,09425,563
67,16380,076
624,122
410,113
57,52512,78110,76364,7352,303
7,2669,2504,9253,959
21,592
49,5272,572258
3,10037,88414,100
10,5318,13532,1047,487
22,14827,121
214,009
9,439121,69014,93142,28825,660
44,363169,645
670,727
441,924
59,95813,06011,71056,0272,902
7,3059,5997,5026,849
28,716
51,0602,517308
3,68446,56513,827
10,81910,73636,55512,85623,45625,864
228,802
12,053128,82615,53538,01134,376
43,930184,872
704,977
428,417
55,76911,81611,83751,2242,062
7,9249,5735,2345,389
24,735
47,3753,747316
4,02636,36513,980
9,29214,97746,56213,02823,19129,948
276,560
14,586157,53515,63441,85946,946
48,938227,621
731,351
417,788
54,0829,3498,241
51,592
9,6359,0556,6304,778
66,2073,163
3642,809
18,39816,301
11,86214,93037,765
22,70128,058
313,564
15,778180,841
15,56142,60358,781
47,098266,460
53,5297,4668,246
52,644
9,455
5,138
65,3603,380
3932,479
21,16316,152
15,08731,409
24,30427,910
1 Includes data for Luxembourg.2 Includes data for Taiwan Province of China.
Note.—International reserves is comprised of monetary authorities' holdings of gold (at SDR 35 per ounce), special drawing rights(SDRs), reserve positions in the International Monetary Fund, and foreign exchange. Data exclude U.S.S.R., other Eastern Europeancountries, and Cuba (after 1960).
U.S. dollars per SDR (end of period) are: 1952 and 1962-1.00000; 1972-1.08571; 1982-1.10311; 1989-1.31416; 1990 -1.42266; 1991—1.43043; October 1992—1.40595; and November 1992—1.37896.
Source: International Monetary Fund, International Financial Statistics.
467
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-105.—Industrial production and consumer prices, major industrial countries, 7967-92
Year or quarter UnitedStates Canada Japan
EuropeanCommu-nity1
France Germany 2 Italy UnitedKingdom
Industrial production (1987 = 100) 3
19671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911991:1
II....III...IV...
1992:1II....I l l "
19671968196919701971197219731974197519761977197819791980198119821983198419851986........198719881989...199019911991-.I
II....III...IV...
1992:1II....III...
57.560.763.561.462.268.373.872.766.372.478.282.685.784.185.781.984.992.894.495.3
100.0105.4108.1109.2107.1105.8106.4108.1107.9107.1108.5109.1
51.154.358.158.862.066.773.876.171.676.079.382.186.182.884.576.281.291.096.195.4
100.0105.3104.9100.596.495.596.597.296.496.296.697.3
36.241.748.355.056.559.667.966.459.466.068.673.078.181.782.682.985.593.496.896.6
100.0109.3115.9121.4124.1124.8124.3124.5123.1119.9117.1117.7
59.363.769.673.174.778.083.784.378.784.586.695.493.192.891.189.990.892.895.898.0
100.0104.2108.1110.2110.2110.1109.9109.4109.3110.6109.4
Consumer prices
61626972778187908390929499
98.998.397.396.597.197.298.G
100.0104.6108.8110.9111.2110.3110.9112.1111.0110.5111.0
57.662.970.975.577.079.985.084.879.686.888.090.494.795.093.290.390.993.597.799.6
100.0103.9108.8114.5118.0118.4119.0117.8116.2119.3117.1114.8
(1982-84=100)
58.561.964.268.368.070.877.781.273.782.983.885.491.196.294.791.788.991.892.996.2
100.0105.9109.2109.4107.1108.5106.5106.2107.4110.1107.0
70.575.978.578.978.579.987.085.480.883.487.690.193.687.584.886.489.689.794.696.9
100.0103.6104.0103.4100.4100.999.5
100.5100.499.699.399.9
33.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6
103.9107.6109.6113.6118.3124.0130.7136.2134.8135.6136.7137.7138.7139.8140.9
31.332.534.035.136.137.940.745.250.153.858.163.369.176.185.694.9
100.4104.8108.9113.4118.4123.2129.3135.5143.1141.9143.0143.8143.6144.2144.9145.6
32.234.035.838.540.942.947.959.066.072.178.081.384.391.095.398.099.8
102.1104.1104.8104.9105.7108.0111.4115.0113.8114.9114.9116.3115.9117.5117.0
23.224.025.026.328.029.832.437.042.447.653.558.665.074.083.192.2100.2107.5114.2118.5122.5126.9133.4140.9148.1145.4147.3149.0150.7152.3154.2155.0
24.625.727.428.730.332.234.539.343.948.152.757.563.672.281.891.7100.3108.0114.3117.2121.1124.4128.9133.2137.2135.7136.6137.7138.9139.8140.8141.5
49.350.151.052.955.658.762.867.271.274.276.979.082.386.892.297.0100.3102.7104.8104.7104.9106.3109.2112.1116.0114.2115.2116.9117.7
119.1120.4121.0
16.016.216.616.817.618.720.624.628.833.640.145.152.163.275.487.7100.8111.5121.1128.5134.4141.1150.4159.6169.7166.5169.2170.9173.3175.9178.2179.4
18.519.420.421.823.825.527.932.340.246.854.258.766.678.587.995.499.8104.8111.1114.9119.7125.6135.4148.2156.9153.7156.9157.6159.2160.0163.5163.4
1 Consists of Belgium-Luxembourg, Denmark, France, Greece, Ireland, Italy, Netherlands, United Kingdom, Germany, Portugal, andSpain. Industrial production prior to July 1981 excludes data for Greece, which joined the EC in 1981. Data for Portugal and Spain,which became members on January 1, 1986 are excluded prior to 1982.2 Former West Germany.
3 All data exclude construction. Quarterly data are seasonally adjusted.Sources: National sources as reported by Department of Commerce (International Trade Administration, Office of Trade and Economic
Analysis, Trade and Industry Statistics Division), Department of Labor (Bureau of Labor Statistics), and Board of Governors of theFederal Reserve System.
468
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-106.—Civilian unemployment rate, and hourly compensation, major industrial countries,
1965-92
[Quarterly data seasonally adjusted]
Year or quarter UnitedStates Canada Japan France Germa-
ny ! Italy UnitedKingdom
196519661967196819691970197119721973197419751976197719781979198019811982198319841985
19871988198919901991 "19921991:1....
III..IV..
1992:1....
1965...1966...1967..1968-1969..1970..1971..1972..1973..1974..1975..1976..1977..1978..1979..1980..1981..1982..1983.1984..1985..1986.1987..1988.1989..
1990 .1991 .
Civilian unemployment rate (percent)2
4.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.77.46.56.76.77.07.37.57.5
3.63.43.84.54.45.76.26.25.55.36.97.18.18.37.47.57.5
11.011.811.210.59.58.87.87.58.1
10.3
10.210.310.410.310.711.311.5
1.21.41.31.21.11.21.31.41.31.41.92.02.02.32.12.02.22.42.72.82.62.82.92.52.32.12.1
2.12.12.22.12.12.12.2
1.61.62.12.72.32.52.82.92.82.94.14.55.15.36.06.47.68.38.5
10.010.410.610.710.29.69.19.6
9.19.59.79.9
10010.210.2
0.3.3
1.31.1.6.5.6.7.7
1.63.43.43.43.32.92.84.05.6
3 6.97.17.26.66.36.35.7
"5.04.4
4.54.44.44.44.44.64.8
3.53.73.43.53.53.23.33.83.73.13.43.94.14.14.44.44.95.45.95.96.0
3 7.57.97.97.8
"7.03 6.9
6.97.06.76.97.06.96.9
Manufacturing hourly compensation in U.S. dollars (1982--100)4
62.667.774.283.191.4
100.0102.5105.7111.0115411801226127 31338140.6
22.824.726.128.230.433.937.741.344.352.257367.769569.874.883.093.1
100.01062105 9105.610781163130.9143 2154 8168 0
8.59.3
10.512.214.617.420.727.337.445.652 1562
15.516.417.619.820.121.224.028.937.841.457.3593
68694.095.598.3
1076100.0107.7111.011501712204.223442312238.12722
65681097.3
113.5102.0100.095.390 495.6
129.3154.7162.41580192 41936
13.214.315.216.318.122.927.032.544.251.659.762.974.592.8
109.1119.3102.2100.099.993 996,0
1356171.4182.1178.4222.2231.4
15.116.017.718.920.625.129.434.941.248.160.559.065778.897.4
111.1100.9100.0104.31035
| 107.0! 142.7I 173.3
179.9188.5239.4
I 253.5L I
2.12.33.33.23.13.13.94.23.23.14.65.96.46.35.47.0
10.511.311.811.811.211.210.38.67.16.98.8
7.98.69.29.49.69.8
10.2
15.817.117.316.217.620.424.028.431.736.345.943.147260.579.7
106.1105.9100.092.787 792.2
112.2133.2152.61526
184.6199.3
1 Former West Germany.2 Civilian unemployment rates, approximating U.S. concepts. Quarterly data for France, Germany, and United Kingdom should be
viewed as less precise indicators of unemployment under U.S. concepts than the annual data Many Italians reported as unemployed didnot actively seek work in the past 30 days, and they have been excluded for comparability with U.S. concepts. Inclusion of such personswould about double the unemployment rate for Italy through 1985, and increase it to 11-12 percent for 1986 forward.
:i There are breaks in the series for Germany (1983) and Italy (1986 and 1991). Based on the prior series, the rate for Germany was7.4 percent in 1983 and the rate for Italy was 6.3 percent in 1986. Based on the new series beginning in 1991, the rate for Italy for1990 would be approximately 7.3 percent.
4 Hourly compensation in manufacturing, U.S. dollar basis. Data relate to all employed persons (wage and salary earners and the self-employed) in the United States and Canada, and to all employees (wage and salary earners) in the other countries. For France andUnited Kingdom, compensation adjusted to include changes in employment taxes that are not compensation to employees, but are laborcosts to employers.
Source: Department of Labor, Bureau of Labor Statistics.
469
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-107.—Foreign exchange rates, 1967-92
[Currency units per U.S. dollar, except as noted]
Period
March 1973
196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921991: 1
IIIllIV
1992:1IIIllIV
March 1973
196719681969197019711972197319741975197619771978197919801981198219831984198519861987198819891990199119921991:1
IIIllIV
1992:1IIIllIV
Belgium(franc)
39.408
49.68949.93650.14249.65648.59844.02038.95538.95936.80038.60935.84931.49529.34229.23837.19545.78151.12357.75259.33744.66437.35836.78539.40933.42434.19532.14831.62635.65835.87033.48233.34733.22030.17031.915
Netherlands(guilder)
2.8714
3.60243.61983.62403.61663.49533.20982.79462.68792.52932.64492.45482.16432.00731.98752.49992.67192.85443.20853.31852.44852.02641.97782.12191.82151.87201.75871.73121.95331.96331.83221.82431.81821.65061.7448
Canada(dollar)
0.9967
1.07891.07761.07691.04441.0099.99071.0002.9780
1.0175.98631.06331.14051.17131.16931.19901.23441.23251.29521.36591.38961.32591.23061.18421.16681.14601.20851.15611.14931.14401.13501.17751.19401.20161.2617
Sweden(krona)
4.4294
5.16215.16835.17015.18625.10514.75714.36194.43874.15314.35804.48024.52074.28934.23105.06606.28397.67188.27088.60327.12736.34696.13706.45595.92316.05215.82585.70296.22606.32395.93575.88545.83025.35236.2581
France(franc)
4.5156
4.92064.95295.19995.52885.51005.04444.45354.81074.28774.78254.91614.50914.25674.22515.43976.57947.62048.73568.98006.92576.01225.95956.38025.44675.64685.29355.22295.87155.92025.54975.51375.44164.96285.2671
Switzerland(franc)
3.2171
4.32834.31634.31314.31064.11713.81863.16882.98052.58392.50022.40651.79071.66441.67721.96752.03272.10072.35002.45521.79791.49181.46431.63691.39011.43561.40641.31191.47401.51731.43351.45731.47801.30411.3888
Germany(mark)
2.8132
3.98653.99203.92513.64653.48303.18862.67152.58682.46142.51852.32362.00971.83431.81752.26322.42812.55392.84552.94202.17051.79811.75701.88081.61661.66101.56181.53571.73361.74211.62561.62041.61461.46431.5509
United Kingdom(pound) *
247.24
275.04239.35239.01239.59244.42250.34245.25234.03222.17180.48174.49191.84212.24232.46202.43174.80151.59133.68129.74146.77163.98178.13163.82178.41176.74176.63190.48170.95168.61177.57176.92180.70190.30157.81
Italy(lira)
568.17
624.09623.38627.32627.12618.34583.70582.41650.81653.10833.58882.78849.13831.11856.211138.581354.001519.321756.111908.881491.161297.031302.391372.281198.271241.281232.171150.421286.271300.751222.851218.541217.231135.181362.89
Japan(yen)
261.90
362.13360.55358.36358.16347.79303.13271.31291.84296.78296.45268.62210.39219.02226.63220.63249.06237.55237.46238.47168.35144.60128.17138.07145.00134.59126.78133.98138.32136.38129.50128.77130.37124.93123.02
Multilateral trade-weighted value ofthe U.S. dollar (March 1973=100)
Nominal
100.0
120.0122.1122.4121.1117.8109.199.1101.498.5105.7103.492.488.187.4103.4116.6125.3138.2143.0112.296.992.798.689.189.886.684.792.993.388.288.288.081.988.5
Real2
100.0
98.999.494.197.693.384.483.284.9100.9111.8117.3128.8132.4103.690.988.294.486.086.583.381.989.689.784.784.884.478.885.1
1 Cents per unit of foreign currency.2 Adjusted by changes in consumer prices.
Source-. Board of Governors of the Federal Reserve System.
470
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-108.—Growth rates in real gross national product/gross domestic product, 1971-91
[Percent change]
Area and country1971-75annual
1976-80annualaverage
1981-85annualaverage
1986 1987 1988 1989 1990 1991
OECD countries1.
United States..CanadaJapan
European Community2
FranceGermany3
ItalyUnited Kingdom..
Western Hemisphere (other than countrieslisted above)
U.S.S.R.4..China
AfricaAsiaMiddle East
3.1
2.45.24.5
2.9
3.52.22.82.1
3.4
3.24.04.6
3.2
3.13.34.81.9
5.4
1.86.2
2.75.84.0
2.4
2.62.93.8
1.4
1.51.11.42.0
1.710.0
.96.71.7
2.8
2.93.32.6
2.8
2.52.22.94.1
3.6
4.17.7
2.66.3
-2 .6
3.2
3.14.24.1
2.7
2.31.33.14.8
3.7
1.310.2
1.68.1
.3
3.95.06.2
4.1
4.53.64.14.4
2.111.3
6.38.9
3.3
2.52.34.7
3.4
4.13.32.92.1
4.25.9
2.4
- . 55.2
2.9
2.24.82.2
.5
- . 6
- 3 . 7
3.76.2
0.8
- 1 . 2-1 .7
4.4
1.5
1.23.71.4
-2 .2
-13.0
1 OECD (Organization for Economic Cooperation and Development) includes Australia, Austria, Belgium, Denmark, Finland, France,Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, Turkey,and United Kingdom, not shown separately.
2 Includes Belgium, Denmark, Greece, Ireland, Luxembourg, Netherlands, Portugal, and Spain, not shown separately.3 Former West Germany.4 Data for U.S.S.R. as published in last year's Economic Report of the President; data for individual countries are not available.
Sources: Department of Commerce, Organization for Economic Cooperation and Development, International Monetary Fund, andCouncil of Economic Advisers.
471Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL WEALTH
TABLE B-109.—National wealth, 1960-91
[Billions of dollars]
End of year
1960196119621963 ...1964
19651966196719681969
19701971197219731974
1975.....1976197719781979
1980....1981198219831984
198519861987,19881989
19901991
Totalnet
worth »
1,579.01,735.91.726.21,870.42,001.2
2,169.52,234.82,513.82,846.42 901 1
3,029.53,338.23,757.33,944.24,126.4
4,681.65,265.15,774.46,601.47,720.9
8,968.69,576.1
10,194.010,907.011,533.3
12,612.613,546.314,216.615,120.616,631,9
16,320.617,630.9
Private net worth 2
Total
1,833.61,998.61,994.92,142.92,280.3
2,449.52,520.82,810.33,153.43 2111
3,358.23,695.24,128.44,315.94,510.6
5,146.25,790.36,341.97.200.68,334.8
9,644.310,337.311,102.412,001.512,802.2
14,072.315,231.616,099.717,199.118,917.2
18,839.320,428.2
Tangible wealth 3
Total *
730.0761.2794.5833.0874.9
919.2991.8
1,059.41,182.01 286 8
1,368.41,483.41,673.51,894.32,154.0
2,399.12,692.53,098.03,612.34,191.0
4,719.45,115.95,378.75,693.86,181.3
6,625.87,121.87,677.78,126.48,731.9
8,747.49,256.2
Owner-occupied
realestate
488.2512.5535.9559.2584.6
609.6651.9688.2768.7830 7
872.0950.9
1,091.41,241.51,402.4
1,580.21,799.22,104.42,489.32,909.5
3,305.93,592.13,778.64,004,94,370.6
4,672.64,999.65,390.55,643.16,081.9
6,005.16,468.6
Con-sumer
durables
193.7196.8202.3212.8223.7
236.1258.5283.2314.2343 7
372.4393.7424.7470.5544.2
595.7652.8725.5815.2924.4
1,014.31,086.21,133.71,193.81,281.5
1,391.11,527.51,659.51,808.41,929.6
2,030.72,122.7
Financial wealth
Total5
1,103.61,237.41,200.41,309.91,405.4
1,530.31,529.01,750.91,971.41 924 3
1,989.82,211.82,454.92,421.62,356.6
2,747.13,097.83,243.93,588.34,143.8
4,924.95,221.45,723.76,307.76,620.9
7,446.58,109.88,422.09,072.7
10,185.3
10,091.911,172.0
Corpo-rate
equity6
395.4500.8437.1513.5564.1
634.9574.8719.3856.4744 7
727.2831.0918.4707.3492.0
639.2758.1708.9705.0857.0
1,163.41,103.81,195.11,365.81,382.2
1,818.32,107.62,006.62,136.92,495.7
2,356.03,060.9
Noncor-porateequity
347.2355.6365.0374.9387.8
409.0433.0452.6487.6514 7
538.0584.1656.1788.4866.7
948.41,060.81,180.81,399.21,633.1
1,865.02,017.92,018.62,065.42,033.3
2,059.32,121.82,253.12,373.12,524.9
2,449.42,372.6
Government net financial assets
Total7
-254.6-262.7-268.7-272.5-279.1
-280.0-286.0-296.5-307.0
310 0
-328.7-357.0-371.1-371.7-384.2
-464.6-525.2-567.5-599.2-613.9
-675.7-761.2-908.4
-1,094.5-1,268.9
-1,459.7-1,685.3-1,883.1-2,078.5-2,285.3
-2,518.7-2,797.3
Federal
-213.6-218.0-220.9-222.1-225.8
-224.3-226.5-232.1-238.3
233 9
-243.9-263.7-279.2-285.5-296.5
-373.2-433.2-488.2-525.9-547.3
-607.5-683.5-829.0
-1,022.4-1,204.6
-1,410.5-1,644.4-1,826.4-2,019.1-2,193.8
-2,386.7-2,627.6
Stateandlocal
-41.9-45 .7-48.8-51 .5-54 .5
-57.0-60.9-66 .0-70 .5
78 2
-87 .3-96.2-95 .1-90.6-94 .3
-99 .8-102.0
-89.7-84.8-79 .3
-81.6-92 .3-95.6-89.4-84.0
-68.4-60.7-78 .3-84.1
-119.0
-162.7-203.5
1 Sum of private net worth and government net financial assets.2 Referred to as household net worth in the Balance Sheets.3 Held by households and nonprofit institutions.4 Also includes nonprofit institutions' real estate.5 Also includes credit market instruments, life insurance and pension reserves, security credit, and miscellaneous assets, and is net of
liabilities.6 Includes households and nonprofit institutions' direct (or through mutual funds) holdings of corporate equity. Equity held through
pension and life insurance reserves is not included.7 Also includes sponsored credit agencies and the Federal Reserve. Some tangible wealth is included for these agencies.
Note.—Data are from Balance Sheets for the U.S. Economy, 1960-91, September 1992.Data are measured at market value where available. For example, corporate equity and land are measured at market value, but bonds
are measured at par value.
Source: Board of Governors of the Federal Reserve System.
472
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-110.—National wealth in 1987 dollars, 1960-91
[Billions of 1987 dollars]
End of year
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
Totalnet
worth >
6,049.86,525.96,369.76,801.57,121.7
7,506.97,449.38,109.08,731.38,458.0
8,392.08,784.79,416.89,172.68,723.9
9,197.69,750.29,990.3
10,495.111,287.9
11,878.911,692.411,922.812,241.312,428.1
13,165.613,766.613,979.014,237.915,024.3
14,093.814,766.2
Private net worth 2
Total
7,025.37,513.57,361.37,792.48,114.9
8,475.88,402.79,065.59,673.09,361.8
9,302.59,724.2
10,346.910,037.09,536.2
10,110.410,722.810,972.111,447.712,185.4
12,773.912,621.912,985.313,469.713,795.5
14,689.215,479.315,830.616,195.017,088.7
16,268.817,109.0
Tangible wealth 3
Total4
2,796.92,861.72,931.73,029.13,113.5
3,180.63,306.03,417.43,625.83,751.6
3,790.63.903.74,194.24,405.34,553.9
4,713.44,986.15,359.95,742.96,127.2
6,250.96,246.56,290.96,390.36,660.9
6,916.37,237.67,549.47,652.07,887.9
7,553.97,752.3
Owner-occupied
realestate
1,870.51,926.71,977.52,033.52,080.4
2,109.32,173.02,220.02,358.02,421.9
2,415.52,502.42,735.32,887.22,964.9
3,104.53,331.93,640.83,957.64,253.7
4,378.74,386.04,419.44,494.84,709.7
4,877.55,080.95,300.45,313.75,494.0
5,185.85,417.6
Con-sumer
durables
742.1739.8746.5773.8796.1
817.0861.7913.5963.8
1,002.0
1,031.61,036.11,064.41,094.21,150.5
1,170.31,208.91,255.21,296.01,351.5
1,343.41,326.31,326.01,339.81,380.9
1,452.11,552.31,631.81,702.81,743.1
1,753.61,777.8
Financial wealth
Total5
4,228.44,651.94,429.54,763.35,001.4
5,295.25,096.75,648.16,047.25,610.2
5,511.95,820.56,152.65,631.64,982.2
5,397.15,736.75,612.35,704.86,058.2
6,523.06,375.36,694.47,079.37,134.6
7,773.08,241.78,281.28,543.09,200.8
8,714.99,356.8
Corpo-rate
equity 6
1,514.91,882.71,612.91,867.32,007.5
2,196.91,916.02,320.32,627.02,171.1
2,014.42,186.82,301.81,644.91,040.2
1,255.81,403.91,226.51,120.81,252.9
1,540.91,347.71,397.81,532.91,489.4
1,898.02,141.91,973.12,012.12,254.5
2,034.52,563.6
Non-corpo-rate
equity
1,330.31,336.81,346.91,363.31,380.1
1,415.21,443.31,460.01,495.71,500.6
1,490.31,537.11,644.41,833.51,832.3
1,863.31,964.42,042.92,224.52,387.6
2,470.22,463.92,360.92,318.12,191.1
2,149.62,156.32,215.42,234.62,280.8
2,115.21,987.1
Governmen
Total 7
-975.5-987.6-991.5-990.9-993.2
-968.9-953.3-956.5-941.7-903.8
-910.5-939.5-930.1-864.4-812.3
-912.8-972.6-981.8-952.6-897.5
-895.0-929.4
-1,062.5-1,228.4-1,367.3
-1,523.7-1,712.7-1,851.6-1,957.2-2,064.4
-2,175.0-2,342.8
t net financial assets
Federal
-818.4-819.5-815.1-807.6-803.6
-776.1-755.0-748.7-731.0-681.9
-675.6-693.9-699.7-664.0-626.8
-733.2-802.2-844.6-836.1-800.1
-804.6-834.6-969.6
-1,147.5-1,298.1
-1,472.3-1,671.1-1,795.9-1,901.2-1,981.8
-2,061.1-2,200.7
Stateandlocal
-160.5-171.8-180.1-187.3-194.0
-197.2-203.0-212.9-216.3-228.0
-241.8-253.2-238.3-210.7-199.4
-196.1-188.9-155.2-134.8-115.9
-108.1-112.7-111.8-100.3-90.5
-71.4-61.7-77.0-79.2
-107.5
-140.5-170.4
1 Sum of private net worth and government net financial assets.2 Referred to as household net worth in the Balance Sheets,3 Held by households and nonprofit institutions.4 Also includes nonprofit institutions' real estate.5 Also includes credit market instruments, life insurance and pension reserves, security credit, and miscellaneous assets, and is net of
liabilities.6 Includes households and nonprofit institutions' direct (or through mutual funds) holdings of corporate equity. Equity held through
pension and life insurance reserves is not included.7 Also includes sponsored credit agencies and the Federal Reserve. Some tangible wealth is included for these agencies.
Note.—Data are from Balance Sheets for the U.S. Economy, 1960-91, September 1992; deflated by the GDP implicit deflator. (The deflatorwas averaged for fourth quarter of year shown and first quarter of following year.)
Data are measured at market value where available. For example, corporate equity and land are measured at market value, but bondsare measured at par value.
Sources: Board of Governors of the Federal Reserve System and Department of Commerce, Bureau of Economic Analysis.
473
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUPPLEMENTARY TABLE
TABLE B - l 11.—Selected historical series on gross domestic product and related series, 1929-58
[Billions of dollars; except as noted]
Year
1929
19301931193219331934
19351936193719381939
19401941194219431944
19451946194719481949
19501951195219531954
1955195619571958
Gross domestic product
Cur-rentdol-lars
103.1
90.475.858.055.665.1
72.382.790.884.990.8
100.0125.0158.5192.4211.0
213.1211.9234.3260.3259.3
287.0331.6349.7370.0370.9
404.3426.2448.6454.7
1987dollars
821.8
748.9691.3599.7587.1632.6
681.3777.9811.4778.9840.7
906.01,070.61,284.91,540.51,670.0
1,602.61,272.11,252.81,300.01,305.5
1,418.51,558.41,624.91,685.51,673.8
1,768.31,803.61,838.21,829.1
Implicitprice
deflator(1987=
100)
12.5
12.111.09.79.5
10.3
10.610.611.210.910.8
11.011.712.312.512.6
13.316.718.720.019.9
20.221.321.522.022.2
22.923.624.424.9
Percent change frompreceding period
Currentdollars
- 1 2 . 4- 1 6 . 2- 2 3 . 5
- 4 . 117.1
11.114.49.8
- 6 . 57.0
10.225.026.821.39.7
1.0- .610.611.1- .4
10.715.55.45.8.2
9.05.45.21.4
1987dollars
- 8 . 9- 7 . 7 '
- 1 3 . 3- 2 . 1
7.7
7.714.24.3
- 4 . 07.9
7.818.220.019.98.4
- 4 . 0- 2 0 . 6
- 1 . 53.8.4
8.79.94.33.7
-.7
5.62.01.9
- .5
Im-plicitpricedefla-tor
- 3 . 2- 9 . 1
- 1 1 . 8- 2 . 1
8.4
2.9.0
5.7- 2 . 7- .9
1.96.45.11.6.8
5.625.612.07.0
- .5
1.55.4.9
2.3.9
3.23.13.42.0
Constant 1987 dollars
Per-sonalcon-
sumptionexpendi-
tures
554.5
520.0501.0456.6447.4461.1
487.6534.4554.6542.2568.7
595.2629.3628.7647.3671.2
714.6779.1793.3813.0831.4
874.3894.7923.4962.5987.3
1,047.01,078.71,104.41,122.2
Grossprivate
domesticinvest-ment
152.8
107.267.225.026.641.1
65.289.9
106.469.993.4
121.8149.481.453.559.8
82.6195.5198.8229.8187.4
256.4255.6231.6240.3234.1
284.8282.2266.9245.7
Netexports
1.9
- .3- 2 . 3- 2 . 4- 3 . 0- 1 . 0
- 7 . 2- 5 . 1- 1 . 9
4.24.6
8.22.8
- 1 1 . 1- 2 8 . 1- 2 9 . 0
- 2 3 . 926.541.916.617.3
3.211.12.3
- 7 . 1- 2 . 3
- 5 . 2- 1 . 2
1.6- 1 4 . 9
Gover-mentDur-
chases
112.6
122.0125.5120.5116.1131.4
135.7158.6152.2162.5174.0
180.7289.1586.0867.7968.0
829.4271.0218.8240.6269.3
284.5397.0467.6489.8454.7
441.7444.0465.3476.0
Disposablepersonalincome
Total
585.8
542.2519.7449.8437.0462.0
505.2565.9585.5547.6590.3
627.2713.9824.7863.8901.8
890.9860.0826.1872.9874.5
942.5978.2
1,009.71,053.51,071.5
1,130.81,185.21,214.61,236.0
Percapita(dol-lars)
4,807
4,4024,1863,6003,4773,652
3,9674,4154,5404,2134^05
4,7475,3526,1156,3176,516
6,3676,0835,7325,9535,862
6,2146,3406,4336,6036,598
6,8427,0467,0917,098
Savingas
percentof
dispos-able
person-in-
come1
3.0
2.52.1
- 3 . 1- 3 . 9- 1 . 1
2.34.44.0
32̂ 4
3.810.723.124.525.0
19.28.53.05.83.7
5.97.37.27.06.2
5.77.17.27.4
Popula-tion
(thou-sands) 2
121,878
123,188124,149124,949125,690126,485
127,362128,181128,961129,969131,028
132,122133,402134,860136,739138,397
139,928141,389144,126146,631149,188
151,684154,287156,954159,565162,391
165,275168,221171,274174,141
1 Percents based on data in millions of dollars.2 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960.
Source: Department of Commerce, Bureau of Economic Analysis.
o
474Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis