Upload
fedfraser
View
88
Download
6
Embed Size (px)
Citation preview
A UNITED STATESDEPARTMENT OFCOMMERCEPUBLICATION
OCTOBER 1972 / VOLUME 52 NUMBER H \J
SURVEY OFCURRENT BUSINESS
J.S. DEPARTMENTOF COMMERCE
Social and Economictistics AdministrationtEAU OF ECONOMIC
ANALYSIS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CUBKENT BUSINESS
OCTOBER 1972 / VOLUME 52 NUMBER 10
CONTENTS
THE BUSINESS SITUATION
Stat -Local Fiscal Position 1
Recent Priee Developments 3
Keeent Labor Market Developments 4
Alternative Calculations of Constant Dollar GNP 6
National Income and Product Tables 11
Second Quarter Developments in Eegional and State Income 15
Tte International InvestmentPositionof theUnited Skates t Developments in 1971 18
Manufacturers9 Inventory and Sales Expectations 24
Revised Manufacturing and Trade S#te% Inventories*and Inventory {Sales Ratios 25
&.&. Balance of Payments Summitry 1948-59 Annually 26
U.S. iWi^rn4tif*?W Transactions, 1948^59 Annually 27
Summary National Income and Product Series, 1929-71 28
CURRENT BtlSlJ^ESS STATISTICS
General S1-S24
Industry S24-S40
Subject Index (Inside Boefe Cover)
• • - -%rcso«»*
U.S. Department of Comndteree
Peter G» Peterson / Secretary
James T« Lynn / Under Secretary
C* Passer / Assistant Secretaryfor Economic Affairs
and Administrator Social andEconomic Statistics Administration
of Ewn&iiaie Analysis . , • :
George Ja^ad / director;Morris R* Goldman / Depit&y Director&ora S* Collins / Editor£eo Y. Baixry,'Jr.'/ Se«*lf eie« EditorBilly JTo Riirley / <
STAFF CONTRIBtfTOlS TO THIS ISSUErH.Jki*«lejr&0tt * - Barljara' JL. Miles. " ^ .
_ _„ _,.: B. B^M^fejlder Russell Sekoll• Donald .A*'King; "'; -\/, v P^J^^* Waite . ; " V; , ;
Annual imfoscrlptlo% iiiclik iitg Veekl^ statistical sup-
§lement» is 19 for domestic m$ KStifc for fdre%ri mailing*ingle cow IV Order fro»t Spperm^endeat oi Documetits,
tJ,S. Cioirernnient Printing Oflleet Washington, B.C.20402, or any fconiin^ce Beparfm^iit field Office, Makechecks payaMe to StiperMten^tot of Bo^nments,
Microfiche Edition is available fitom the NationalTechnical Information Service* Spriiigfiel^ ^a* 22151,Annual subscription, exclmdiif weekly siipf letjient, is $9for ddmestic and $12 |or foreif? mailing, Single copy10.95, Make checks payable to KMS.
Send sttbscwption coritespondence to the Superintendentof BoC^ments or HTIS; Send editorial correspondenceto tl^e fitire^ii oiEconotoic Analysis, 0»S* Bepartment of
B1FAETMBNT OF COHMBEOE FIBLB OFFICESAlbuquerque, N. Mex. 87101
US, Cdortho it* Pfe,
Anchorage, Alaska 99501\ 632 SixtH Ave, !2tSN"""^
Atlanta, Ga. 30309
Baltimore, Md.415 UJS. Customhouse
Birminpham, Ala, 35205
Boston, Mass,441 Stuart St. 223-2312.
nSt. B*. 842-3208,
9 S.C. 29403334 Meeting Ss.^577-4171.
Charleston, W. Va. 25301500 Quarrier St. Ph. 343-6181.
Cheyenne, Wyo. 829912120 Capitol Ave*Fix. 778-2220,
Chicago, III. 60604I486 N«r Federal BMg,Pk 353-4400^
Cincinnati, Ohio 45202550 Main St. Ph. 684-2944.
Cleveland, Ohio 44114666Ew<aiaAvc,Pfe, 522-4750,
Dallas, Te*.1100 Commeree Si,
Denver, Cola, 80202Hew Customhouse, 19th & StoutSts.3PIC 8S7-B246.
DCS Moines, Iowa 50309609 Federal Bidg.Ffe, 2B4-4222,
Detroit, Mich. 48226445 Federal Bldg. Ph. 226-6088.
Greensboro, N.C. 27402258 Federal Bidg.
Hartford. Conn. 06103450 Main St. Ph. 244-3530.
Honolulu, Hawaii 96813286 Ata*nd*r Young Bl£«,Ph, 546- 604.
Houston, T«JC, 770021017 Old F0<ie*al tog,Fh» 226-4231*
Jacksonville, Fla, 32202
Kansas City, Mo. 64106601 Bast 12tli St. Ph. 374-3141,
Los Angelea, Calif. 9002411000 Wilsliire Blva, 824-7S91.
Memphis, Tenn. 38103147 |effcr«0tt Are,
Miami, Fla,2SWc»tFIaslerSt, Fk. 350-5267,
Milwaukee, Wis. SS203238 W, Wi^o»mn A^e,F&, 224-3473, , - ,. - / -
ea polis, Minn.
610 South St. Ph. 527-6546,New York, N.Y. 1S007
26 Federal Plaza Ph. 264-0634.Philadelphia, Pa*
101$ Gheimut St.Phoenix, Ajri*. 85004
112N, Centrat Ph» 261-328115222. Fb, 644-2050.
Portland, Oreg. 97205921 S,W. WasMngtoa St.Pfa, 221-S001.
Heno, Nev, 89502J00 Booths St, Fh, 784-520$,
Richmond, Va. 23240210$ Fetb*al Bl%, Pb. 782-2246. ,
St» Louis, Mo. 6S1032511 F«Kt<era! Bidg, 622^4243*
Lak« City,
Pittsburgh, Pa.1000 W**e%f Av
Pl>, $24-51 16*San Francisco, Calif* $4102
450 GoHett Cat« Ave.Ph, 55^5864
San Juan, Puerto Rico 009021$0 PXX B!dg. Pb. 723-4640.
Savannah, Ga. 31402235 U.S. Courthouse and P.O.B14g. Pb» 232-4321.
Seattle* Wa»fa. 981048021 Federal Office
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
the BUSINESS SITUATION
E<jCONOMIC activity continued toexpand rapidly in the summer, thoughat a slower pace than in the secondquarter of this year. Preliminary esti-mates show GNP rising $22% billionto a seasonally adjusted annual rate of$1,162% billion; the GNP increase incurrent dollar terms had been in excessof $30 billion in both the first andsecond quarters. GNP in real termsgrew at an annual rate of 6 percent;that increase was appreciably less thanthe unusually strong growth rate re-corded in the second quarter, but notmuch below the rate in the openingquarter of the year. The rate of priceincrease continued to be quite moderatewith the implicit price deflator rising2.2 percent at an annual rate, up only alittle from the low 1.8 percent rate ofincrease in the second.
On the basis of source data that arestill incomplete, the estimates show anincrease of $% billion in the rate of inven-tory accumulation as compared with anincrease of $4% billion from the first tothe second quarter. The rise of finaldemand also slowed from $25% billionin the second quarter to $22 billion inthe third.
Among the major components offinal demand, residential investmentincreased $1% billion, a little fasterthan the $1% billion growth in thesecond quarter. To judge from partialdata, exports and imports of goods andservices both increased substantially,but the gain in exports exceeded that inimports and net exports were a smallernegative by $1% billion than in thesecond quarter.
The other major components of finalsales showed less expansion than inthe second quarter. Consumer pur-chases of goods and services increased
CHART 1
GNP up about $22 K billion in third quarter
Billion $
FINAL SALES rose $22 billion40 ~
30 -
20 -
INVENTORY INVESTMENT little changed20
10 •
-10 _ ;
REAL OUTPUT grew about 6 percentPercent
10 ~
1 ' ' ' | 1
-5 -
GNP DEFLATOR increased 2H percent10 '
Th1968 1969 1970 1971 1972
Change From Previous Quarter
Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis 72-10-1
$14% billion, as compared with $17%billion in the second quarter. Theslowdown was in nondurables; outlaysfor services continued to rise at aboutthe same rate as in the second quarter.Spending for durables accelerated, re-flecting a step-up in spending for furni-ture and household appliances and fornew cars. Sales of domestic type autoswere at a seasonally adjusted annualrate of 9.8 million units, up from 9.1million units in the spring; sales offoreign cars increased from 1.5 millionto 1.6 million units.
Business fixed investment increasednearly $2 billion, about $1 billion lessthan in the second quarter. Spendingfor equipment continued to advanceat a rate close to that in the precedingquarter, but construction outlays,which had registered a modest gainin the spring, declined $K billion.Government purchases were up $2%billion as compared with $4% billionin the second quarter. The rise inState and local purchases ($4K billion)was nearly twice that in the springquarter, but Federal spending declined$2 billion following a $2^ billion risein the preceding quarter. A $3% billioncut in defense spending was offset inpart by a $1K billion rise in nondefenseoutlays.
State-Local Fiscal Position
Final congressional approval inOctober of a Federal program of reve-nue sharing is expected to acceleratethe improvement in the fiscal positionof the State-local government sectortaken as a whole that has been evidentduring the last several years.
Federal grants-in-aid for revenuesharing for calendar 1972 are expected
1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUEVEY OF CUEEENT BUSINESS October 1972
to total $5.3 billion, current plans callfor at least half of these funds to be paidin the current quarter. For calendar 1973,$6 billion will go to State-local govern-ments under the revenue sharing legis-lation. During the 5-year period cov-ered by the new law (1972-1976) morethan $30 billion will be allocated toStates and localities.
These large increases in Federal aidcome at a time when the State-localbudget on national income account(NIA) has moved into a substantialsurplus (Table 1). As indicated in thetable, this shift has emerged in recentyears as social insurance fund sur-pluses have grown steadily and as thedeficits in other funds, mainly operat-ing funds, have been shrinking. From1968 to 1971, the overall State-localfiscal position shifted from a deficit of$0.3 billion to a surplus of $4.8 billion.It should be recognized that eventhough the aggregate budget positionhas improved, many individual Statesand localities continue to face severefiscal problems.
The surplus increased further in thefirst half of 1972, reaching a record$14.8 billion (annual rate) level in thesecond quarter. The overall secondquarter surplus was swelled by twononrecurring factors—a $4 billion ad-vance payment of public assistancegrants and $0.8 billion of unusually highincome tax settlements in Pennsyl-vania—but a surplus would have beenrecorded in operating funds even intheir absence.
Impact on full-employment deficit
Revenue sharing is a major factorcontributing to the anticipated full-employment deficit in the Federalbudget for fiscal 1973. According torecent congressional testimony by ad-ministration officials, if outlays on theunified budget basis are held to the $250billion ceiling proposed by the Presi-dent, the full-employment deficit infiscal 1973 will total $4.5 billion (unifiedbudget basis). Since revenue sharing isexpected to add over $8 billion to fiscal1973 outlays, the projected full-employed budget positions in the ab-sence of revenue sharing would be asurplus of about $3% billion.
The fiscal impact of the projectedFederal full-employment deficit is de-pendent on how States and localitiesuse revenue sharing funds. To theextent that these governments spendthe new Funds, reduce existing taxes, ordefer tax increases otherwise planned,revenue sharing will have an expansion-ary impact on the economy in line withits impact on the Federal full-employ-ment deficit. However, to the extentthat State and local governments usethe revenue sharing funds to retireexisting debt, or to invest in financialassets, they may well offset the fiscalstimulus implied by the Federal full-employment deficit.
Recent fiscal shifts
Large budget surpluses for all Stateand local governments combined repre-sent a considerable departure from thepast. Between World War II and 1969,the State and local fiscal position on theNIA basis has been in the range betweenplus and minus $2 billion every yearexcept 1958. In the 1960's, there was noimprovement in the budget positioneven though Federal aid increasedsharply. For the years 1960-69, theaverage annual State-local surplus wasonly $0.5 billion.
The recent improvement can beattributed to strong growth of receiptscoupled with moderate expenditureincreases. On the receipts side, Federalgrants have continued to grow, andState-local receipts from their ownsources have also increased rapidly.With respect to the latter, these govern-ments have (1) expanded their taxsources (especially new personal andcorporate income taxes which are partic-ularly responsive to economic growth) ;(2) increased tax rates on existing salesand income taxes; and (3) obtained
more funds from nontax sources, suchas charges at public hospitals and tui-tion payments to public educationalinstitutions.
The moderate growth rate of ex-penditures has been chiefly a result ofthe relative stagnation in constructionactivities. Despite very sharp short-term increases and decreases, overallgrowth of construction outlays in thepast four years has been very slow. Inparticular, school construction has de-clined every year since 1968. Demo-graphic changes and voter reluctance toapprove school bond issues have bothcontributed to this trend. High interestrates were also a factor during the tightmoney period of 1969-70, but interestrates have declined sharply since thattime and no longer appear a deterrentto increased capital spending.
Huge surpluses unlikely
Although the fiscal outlook for Stateand local governments is brightening,there are reasons to believe that theextremely large surpluses suggestedfor the longer run by some recent stud-ies may not be realized. Expendituregrowth is likely to pick up and thegrowth of receipts other than fromrevenue sharing may be slowed.
Expenditures should accelerate, notonly due to revenue sharing but alsobecause liquidity positions of State-local governments, which were rundown during the credit squeeze of1969-70, have been largely rebuilt.With the restoration of normal liquiditypositions, public construction activitiesshould strengthen. There is no evidencethat this pickup has occurred as yet;June construction outlays were thelowest since early 1970. State-local paylevels may also be raised; the rapidgrowth of unions in the public sector islikely to be a contributing factor.
Table 1.—Fiscal Position of State and Local Governments (NIA Basis)[BiUions of dollars; quarterly data seasonally adjusted at annual rates]
Surplus or deficit (-), NIA basis
Surplus, social insurance funds. _ _
Surplus or deficit all other funds..
1946-53(avg.)
0.1
.6
-.5
1954-61(avg.)
-1.0
1.7
-2.7
1962-66(avg.)
1.2
3.1
-1.9
1967
-1.6
4.4
-5.9
1968
-0.3
5.0
-5.3
1969
0.7
5.7
-5.0
1970
2.8
6.5
-3.7
1971
4.8
7.5
-2.7
1972
I
7.1
E8.1
E-1.0
II
14.8
E8.4
E6.4
E Estimate.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUEEENT BUSINESS
Over the longer run, the growth rateof receipts may slacken. It is unlikelythat State income tax growth will con-tinue at the recent pace. Also, localproperty taxes (which still represent aquarter of all State and local receipts),traditionally the primary source offunds for education, are under in-creasing pressure from both the courtsand the voting public. Third, revenuesharing itself, together with restric-tions on other Federal expenditures,may well stimulate reduction of otherFederal grants to State and localgovernments, or restrict their growth.
Recent Price Developments
From midsummer 1971 through earlythis year, price movements were dom-inated by the imposition and subse-quent removal of the wage-price freeze.During the past six months, however,price movements have been relativelyfree of distortions associated with thefreeze. Prices paid by consumers havebeen rising moderately, with monthlyincreases averaging a little less than inthe first half of 1971 and noticeablyless than in 1969 and 1970 (table 2).In wholesale markets, agricultural priceshave recently been rising at an extraor-dinary rate and, because of this, theoverall wholesale index has been risingsomewhat more rapidly in the pasthalf year than in the first half of 1971.
Increases in industrial prices haveslowed somewhat in recent months;the average monthly advance duringthe past half year has been about thesame as in the first half of 1971.
The consumer price index increasedan average 0.3 percent per month,seasonally adjusted, in July and August,up slightly from the average 0.2 percentmonthly increase in the second quarter.(Data for September were not availableas this issue of the SURVEY went topress.) Food prices were the major fac-tor in this stepup. Prices for foodaccount for almost one-fourth of theoverall index and they are highly vola-tile, and therefore often have an import-ant impact on changes in the index,Within the food group, the accelerationwas heavily concentrated in two majorcategories—meat, poultry, and fish,and fresh fruits and vegetables. Thesetwo categories account for two-fifths ofthe food index but were responsible forroughly 80 percent of the average July-August increase (table 2). Demand formeats, particularly beef, strengthenedsignificantly in late spring and summerand, in an attempt to increase suppliesand ease price pressures, import quotason meats were lifted late last June.Price increases for fruits and vegetablespartly reflected the fact that outputwas affected by adverse weather condi-tions during most of the first half of1972.
Table 2.—Average Percent Changes in Prices[Percent change per month, seasonally adjusted]
Consumer Price Index
All Items. _
Food.......Less meat, poultry, and fish... .Less fruits and vegetablesLess meat, poultry, and fish, and fruits
and vegetables.
Commodities less foodServices2
Wholesale Price Index
All commodities.--... ..
Agricultural products
Industrial coTn-mnditifisLess lumber and wood products
19
1sthalf
0.5
.5
.2
.6
.4
.4
.6
.4
.8
.3
.3
69
2dhalf
0.5
.6
.7
.6
.6
.3
.6
.4
.4
.4
.4
19
1sthalf
0 5
3.33
.4
.4
.8
.2
—.2
.3
.3
70
2dhalf
0 4
1.21
.3
.4
.6
.2
-.1
.3
.3
I
0 2
.5
.64
.5
.1
.3
.4
.9
-.1-.2
19
11
0 4
5.63
.3
3.4
.4
.4
.7
.7
71
III
0 2
.10
1
.1
2.4
.2
-.2
.4
.3
IV
0 2
4.32
0
.1
.3
.3
1.0
0.1
I
0 3
6.29
.5
.2
.3
.4
.6
.3
.3
1972
II
0 2
o.1
— 1
o23
.4
.4
.4
.3
llli
0 3
5.34
.1
3.3
.5
1.3
.3
.2
Prices of commodities other thanfoods also rose at a faster rate in thesummer than in the spring, reflectingincreases among most durables andnondurable goods. A particularly sharprise was evident in prices for gasolineand motor oil, which rose an average 1
CHART 2
Prices
CONSUMER
140
130
120
110
100
90
\CommoditiesLess Food
in linn I n i ii I ii nil i ii i ilum I mil linn 11 mi 11 null t n i III n
1967 68 69 70 71 72
All CommoditiesN
1967=100130|
120
110
100
90
130
120
110
100
90
WHOLESALE
Farm Products,Food and Feeds
1967 68 69 70Seasonally Adjusted
* Not Seasonally Adjusted
U.S. Department of Commerce, Bureau of Economic Analysis
71 72
Data: BLS72-10-2
1. Consumer price data shown for 1972-111 are average of July and August.2. Not seasonally adjusted.Source: Bureau of Labor Statistics.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUEVEY OF CURRENT BUSINESS October 1972
percent in July and August. Highergas and oil prices may be due in partto decreases in discounts given todealers by the oil companies. In addi-tion, the State of California, whichaccounts for about 10 percent of theU.S. market for gas and motor oil,extended its sales tax in August toinclude gasoline.
Services prices make up nearly 40percent of the overall consumer index.In recent years, prices for services haveadvanced much faster than goodsprices and have been the major contrib-utor to the rise in the consumer index(chart 2). After 1970, however, theseprice increases moderated and stabi-lized. Price increases for householdservices other than rent (maintenanceand repair, property taxes, mortgagerates, and utilities charges) have beendecelerating and increases averaged 0.2percent a month in July and Augustcompared to 0.4 percent in the spring.The deceleration has been due partlyto a letup in the rate of increase inutilities charges. Rent increases haveheld fairly steady for over a year,averaging a little less than 0.3 percentper month. The rise of medical careservices costs (doctors' and dentists7
fees and hospital charges) has alsobeen declerating noticeably, and aver-aged 0.1 percent in July and August,down from 0.3 percent in the springmonths. The recent slowdown has beenmainly in professional fees, whichaccount for a bit less than half of themedical services index.
Wholesale prices
The rise in wholesale prices averaged0.5 percent per month in the thirdquarter compared to 0.4 percent in thesecond. That acceleration was dueentirely to the summer surge in agri-cultural prices, which rose an averageof 1.3 percent per month, well abovethe 0.4 percent average increase in thespring. Within the agricultural groupthe most dramatic acceleration was inprices of farm products. Grain prices,particularly for wheat and corn, rosesharply in the quarter, a developmentthat may be traced in part to the large
sales negotiated with the Soviet Unionin early summer. Fruit and vegetableprices also increased strongly for thesecond consecutive quarter. On theother hand, the rise in prices of live-stock, which surged sharply in thesecond quarter, slowed appreciably inthe third but not sufficiently to offsetthe increase in grain prices. Priceincreases for processed foods and feedsalso accelerated in the third quarter.
The rate of industrial price increasesslowed in the third quarter. Increaseshave been fairly evenly spread through-out the industrial sector with two majorexceptions—lumber and wood, and hidesand skins. Prices in these two groupsmake up only a small part of the totalindex but have increased very sharplyover the past year. Lumber has beenin strong demand as a result of theboom in homebuilding and seriousshortages of wood products have de-veloped. When the lumber and woodproducts component is removed, theincrease in the index of industrialprices in the last two quarters isreduced by about 0.1 percentage point.Recently, the Price Commission hasimposed controls on many of thecompanies in this industry which hadbeen exempt from regulation becauseof their small size. Also, salvage andthinning operations in National Forestshave been stepped up in an attempt toincrease the supply of lumber.
Prices for hides, skins, and leatherhave increased at a very rapid rate thisyear, but have such a small weight inthe industrial price index that they hadvery little impact on the movement ofthat index. The average monthly in-crease of 1.3 percent in the third quarterwas less than earlier in the year, butwas still unusually high. The UnitedStates has been the major exporter ofhides and skins, which have been inshort supply throughout the world.Last May, Argentina, the second largesthides exporter, replaced its year-oldexport limitation policy with a fullembargo on foreign sales, therebyfurther increasing the demand forAmerican goods in world markets.
Recent Labor MarketDevelopments
The demand for labor continuedstrong in the summer quarter accordingto both measures of aggregate employ-ment, the nonfarm payroll series andthe household survey. The averagenumber of employees on nonfarm pay-rolls increased 440,000 (seasonally ad-justed) from the second to the thirdquarter, reaching a new high of 73million. Though smaller than the sharpgains of 740,000 in the second quarterand 685,000 in the first, this increasewas well above the 245,000 averagequarterly advance recorded in 1971.The quarterly changes shown in table 3incorporate the annual benchmark revi-sion introduced by BLS in earlyOctober.
Nearly all of the growth in payrollemployment in the third quarter wasin the service producing industries;employment in these industries in-creased 380,000. Continuing the patternthat has been evident since the summerof 1971, virtually all of the thirdquarter employment increase in theservice-producing industries was intrade, and State and local governments,and the miscellaneous service group.Growth of State and local employmenthas been bolstered by the federallyfinanced Public Employment Programwhich, since its introduction in thesummer of 1971, has added roughly180,000 employees to State and localpayrolls. Federal employment fell morethan 30,000 in the third quarter; thatdecline followed a smaller reduction inthe second quarter and virtual stabilityin the first quarter and during 1971.
Employment in the goods producingindustries increased only 60,000 in thethird quarter, considerably less thanin the three preceding quarters. Allof the increase was in durable goodsmanufacturing, as employment declined21,000 in nondurables manufacturingand was unchanged in mining andconstruction. The weakness in con-struction employment was due to anincrease in the number of workers onstrike (and thus not counted in thepayroll survey data); had it not beenfor strikes, employment in construction
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUKVEY OF CURRENT BUSINESS
Table 3.—Change in the Number of Employees on Nonfarm Payrolls
[Thousands of persons, seasonally adjusted]
Total
Goods-producing industries.. .MiningConstruction ._,Manufacturing.. _ _ _ _ _ .
DurableNondurable.. • _ _ _ _ _ _ _
Services-producing industries.. _.Transportation and public utilities. _ _ _ _ _Trade.Finance, insurance, and real estateServices.. .-.Federal GovernmentState and local government
I
197
—50—2
—35-13
27-41
2487
752957
—181
19
II
260
18—172
-53—35-17
242-12
7535473
94
71
III
82
—1215
—99—70-29
178-4610328701
22
IV
444
75—58
71624121
370-310937
1062
119
I
684
1856223
1007030
49946
15429
1105
155
1972
11
743
260H16
25519362
48127
17737
142—12110
III
442
61o5
6688
—21
381—411126
152—33129
1. Computed from quarterly averages.Source: Bureau of Labor Statistics.
would have increased substantially.Hourly earnings of production work-
ers continued to advance at a fairlybrisk pace during the summer, as theydid earlier in the year. The indexof average hourly earnings for theprivate nonfarm economy rose 1.1percent from the second quarter to thethird, to a level 5.8 percent above thethird quarter of 1971. The index ofaverage hourly earnings is adjustedto exclude the effects of employmentshifts between low-paying and high-paying industries, and of changes inthe amount of overtime in manufac-turing, and it is thus a crude proxy forthe behavior of wage rates. This indexhad risen 6.9 percent from the thirdquarter of 1970 to the third quarterof 1971, about 6% percent in each ofthe 2 years before that.
Though the rate of increase in thehourly earnings index has slowed duringthe past year, it has exceeded the rateof increase in consumer prices. Whendeflated by the consumer price index,the index of hourly earnings showsan increase of 2.6 percent from thethird quarter of 1971 to the thirdquarter of 1972, about the same as theincrease from the third quarter of 1970to the third quarter of 1971, but upfrom gains of about 1 percent in each ofthe 2 preceding years.
The manufacturing workweek aver-aged 40.6 hours in the third quarter,virtually the same as in the secondbut well above the average 39.8 hoursin the third quarter of 1971. Overtimein manufacturing also held steady in the
third quarter at an average 3.4 hoursper week, up from 2.9 hours in thethird quarter of 1971. In manufactur-ing, the average hourly earnings index(adjusted for overtime and interin-dustry employment shifts) has in-creased 5.8 percent during the past year,
Table 4.—Labor Turnover Rates inManufacturing
[Per 100 employees, seasonally adjusted]
1970-1IIIII.rv
1971-1
Si:::::::::IV
1972-1.IIIll*
Totalacces-sions
4.24.14.03.7
3.83.83.93.9
4.44.34.5
Newhires
3.12.82.72.4
2.42.52.62.7
3.03.23.4
Totalsepa-
rations
5.05.04.64.8
4.24.14.34.1
4.24.34.4
Quits
2.42.22.01.8
1.71.81.81.8
2.12.22.3
Layoffs
1.71.91.72.0
1.61.51.71.4
1.21.21.1
*Average of July and August.Source: Bureau of Labor Statistics.
the same as the increase in the indexfor the private nonfarm economy as awhole. The combined result of that gainand the significant lengthening of thefactory workweek has been a strong in-crease in weekly earnings in manufac-turing, an increase that has been con-siderably faster than the rise of theconsumer price index.
Evidence of strength in labor marketscan be seen in the behavior of laborturnover in manufacturing. The rate ofaccessions (new hires and rehires)in the third quarter (average of Julyand August) averaged 4.5 per one hun-
dred workers, up from 4.3 per month inthe preceding quarter and 3.9 per monthin the third quarter of 1971 (table 4).This stepup in hiring mainly reflectsnew hires, that is employees not trans-ferred from some other establishmentof the same company or recalled fromlayoff.
The monthly layoff rate has beendeclining steadily since last summer,and reached 1.1 per hundred workers inthe third quarter, down from 1.2 inthe second and 1.7 a year earlier. Thequit rate, in contrast, has been steadilyrising, indicating that workers arelocating new jobs more easily and thatthey are becoming more optimisticabout job prospects.
Job vacancies in manufacturing aver-aged 130,000 (seasonally adjusted) inthe summer, up from 121,000 in thespring and 88,000 in the third quarterof 1971. For well over a year, the growthof job vacancies has been greater thanthat in aggregate payroll employment.Also, help wanted advertising in majornewspapers, another indicator of labordemand (particularly the demand forskilled labor), has increased sharply.The index of help wanted advertisingwas 107 in the third quarter, up from94 in the second quarter and 83 in thethird quarter of 1971.
The household survey
The civilian labor force and employ-ment continued to expand strongly inthe third quarter and the number ofunemployed declined. The number ofpersons in the labor force increased400,000 (seasonally adjusted) from
Table 5.—Selected Unemployment Rates(Seasonally Adjusted)
[Percent of labor force]
All workers
Adult menAdult womenTeenagers -
WhiteNegro and other races
Household headsMarried menFull-time workers .....
3dqtr.1972
5.6
3.95.6
16.1
5.09.9
3.32.75.1
2dqtr.1972
5.7
4.25.6
15.8
5.39.9
3.52.95.3
1stqtr.1972
5.8
4.15.3
18.2
5.310.6
3.42.95.4
4thqtr.1971
5.9
4.35.7
16.9
5.410.1
3.63.25.6
3dqtr.1971
6.0
4.45.7
16.8
6.510.1
3.73.25.5
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CUERENT BUSINESS October 1972
the second quarter to the third, thenumber employed increased 540,000,and the unemployment rate dropped to5.6 percent. The unemployment ratehas dropped 0.1 of a percentage pointin each of the past four quarters.
Unemployment rates for most majorgroups within the labor force declinedor remained unchanged and are lower
than in the third quarter of 1971(table 5). In addition, the average dura-tion of unemployment fell during thethird quarter to 12.0 weeks, down fromthe all-time high of 12.8 weeks recordedin the spring. However, the thirdquarter rate is still above the 11.8week level of the third quarter of lastyear.
Alternative Calculations of Constant Dollar GNP
The rate of change of GNP in con-stant dollars ("real GNP") is generallyinfluenced by the choice of the valua-tion period used for the constant dollarcalculation. The estimates prepared byBEA are currently in 1958 dollars; thismeans that the value of output inevery period is restated on the as-sumption that 1958 prices prevailedin every period. If the prices of anotheryear were used instead, the resultingconstant dollar GNP could show rates
Table A—Alternative Measures of Real GNP
GNP in constant dollars of—
19621963 _ _1964
19651966-196719681969 _.
19701971-
19631964.
1965 -.196619671968.1969
1970-1971. -
1962-71 ...
1958 1967 1971
Billions of dollars
529.8551.0581.1
617.8658.1675.2706.6725.6
722. 1741.7
625.2650. 0684.7
726.0773.3793.9829.7851.3
848.7870.7
755.4784.2824.9
875.4933.1960.4
1,004.81,030.4
1,023.21,050.4
Percent change from previousyear
4.05.4
6.36.52.64.72.7
-.52.7
4.05.3
6.06.52.74.52.6
-.32.6
3.85.2
6.16.62.94.62.5
-.72.7
Average annual percentchange
3.8 3.7 3.7
of changes over time somewhat dif-ferent from those shown by GNP in1958 dollars. The reason for such differ-ences is that the prices of various goodsand services change relative to oneanother over time. (The selection of thevaluation period has no effect on therate of change if the outputs or theprices of all the goods and serviceschange in the same proportion overtime.)
The valuation period used in cal-culating constant dollar GNP will bechanged when BEA next benchmarksthe national income and product ac-counts. Meanwhile, some preliminarycalculations have been made which showthat constant dollar GNP calculated
with the prices of more recent years,1967 and 1971, show rates of changeover time similar to those shown byGNP in 1958 dollars. These years wereselected for comparison because 1967is expected to be the valuation periodin the next benchmark revision and1971 is the latest year available.
Table A compares the rates of growthfrom 1962 to 1971 in GNP in constant1958 dollars, in constant 1967 dollars,and in constant 1971 dollars. Over thenine year period, GNP in 1958 dollarsincreased at an average annual rate of3.8 percent as compared with 3.7percent in either 1967 dollars or 1971dollars. On an annual basis, the dif-ferences between the changes in GNPin 1958 dollars and those in the alter-native measures of real GNP, whilesomewhat larger, are still quite small.The largest differences occurred in1965 and 1970, when the annual ratesof change differed by 0.3 and 0.2percentage points, respectively.
Table B shows quarter-to-quarterpercent changes (at seasonally adjustedannual rates) for GNP in constant 1958dollars, constant 1967 dollars, andconstant 1971 dollars. Differencesamong the quarterly movements ofthe constant dollar series are generallysmall, the largest being in the firstquarter of 1965, the fourth quarter of1968, and the first and fourth quartersof 1971.
Table B—Quarterly Changes in GNP in Constant 1958 Dollars, Constant 1967 Dollars, andConstant 1971 Dollars
[Percent change from previous quarter, seasonally adjusted annual rate]
1962' IIIIIIV
1963: IIIIIIIV
1964: I.... -IIIIIIV
1965: IIIIIIIV
1966: IIIIIIIV
GNP in constant dollars of—
1958
6.54.33.7
2.23.66.65.4
6.65.35.11.9
9.25.98.29.4
8.13.73.24.9
1967
6.44.13.3
2.43.96.25.2
6.45.44.92.3
7.96.18.09.1
8.43.63.34.6
1971
6.64.23.6
2.23.26.45.0
6,05.34.62.1
8.46.38.09.1
8.14.03.44.9
1967: IIIIII _ .-IV
1968: IIIIIIIV
1969: IIIIIIIV
1970: III ..IllIV
1971: III ... .IllIV
GNP in constant dollars of—
1958
-0.93.04.42.8
5.47.54.02.4
3.41.91.9
-2.3
-2.51.52.0
-4.8
8.03.42.56.7
1967
-0.42.74.63.1
5.07.14.31.3
3.42.51.6
-2.1
-2.01.12.4
-4.2
7.23.42.55.5
1971
0.22.74.92.9
5.07.53.62.7
2.81.82.0
-2.4
-2.51.01.8
-3.8
6.73.32.26.8
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUEVEY OF CUKKENT BUSINESS
* GNP rose $22% billion in third quarter-real GNP grew 6 percent (annual rate)® In September: The jobless rate was 5.5 percent; nonfarm payroll employment increased 240,000® Wholesale prices rose about 0.3 percent; prices of industrial commodities increased 0.2 percent
CHART 3
TOTAL PRODUCTIONBillion $
1,150
1,100 -
1,050 -
1,000 ^
950
Billion $
Quarterly (III)
40
30
20
10
CURRENT DOLLAR GNP*(Change From
- PreviousQuarter)
Total—
=•*• Final Sales
Quarterly (III)
Billion $
850
800 -
750 -
700 -
650
Percent
Quarterly (III)
CONSTANT DOLLAR (1958) GNP(Change From Previous Quarter)
TotalFinal Sales
1970 ' 1971 ' 1972 BEA
Quarterly (III)
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
THE LABOR MARKET PRICESMillion Persons
89
86
83
80
77
CIVILIAN LABOR FORCE AND EMPLOYMENT*
Labor Forcev
Employment
'•»*""*•**"
Percent16
12
IMPLICIT PRICE DEFLATOR FOR GNP*(Change From Previous Quarter)
llillh.l,,Monthly (Sept.) BLS Quarterly (111)
Percent
UNEMPLOYMENT RATE
Total
Percent
16
12
CHAIN PRICE INDEX FOR GNP*(Change From Previous Quarter)
llillihlnMonthly (Sept.)
Million Persons
76
BLS
Billions 1967=100
Quarterly (III)
NONFARM ESTABLISHMENTS
Employment* (left scale)72
68
64
60 I i i i i i I i i i i , I i i i i I I i i i i i i i i i i I i
Monthly (Sept.)
160 140
150 130 -
140 120 -
130 110 -
i I 120 100 I i i i i i 1
Monthly (Aug.)
Hours
45.0
42.5
40.0
37.5
35.0
D
PRODUCTION OR NONSUPERVISORVWORKERS (PRIVATE)*
Average Hourly Earnings ...**"""*(right scale) /* "
" .,."X AverageWeekly Hours(left scale) ,
.•••***,.-•"""
Dollars 1967=100
3.75 125
3.50 120
3.25 115
3.00 HO
2.75 105
WHOLESALE PRICES
_ , Processed Foods
IndustrialCommodities
1970 1971
Monthly (Sept.)
1972 BLS 1970 1971
Monthly (Sept.)
*'
Farm Products Total /£
1972 BLS
72-10-3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
8 SURVEY OF CURRENT BUSINESS October IOTS
® In September: Personal income advanced $5% billion, wages and salaries accounted for most of the gain• Retail sales declined; sales of new domestic cars were up sharply• Housing starts little changed at an annual rate of 2.35 million units
INCOME OF PERSONS CONSUMPTION AND SAYING FIXED INVESTMENT
Billion $ Billion $
950
900
850
800
750
'-. , "- '-;'., • " '' ' - - • ' . ' • • / • *J>
/PERSONAL, INCOME" , . . . ; . . , '-J:',':•••••• - ' ' • • ' ' '. " S"^ • •- • / ' ' -
: - ! • • ' • : • ; . - . - • Jr*<-••:•: '•.••^/•:':•'•• f&*^>/ ;,£, : \ ••
YM i f f H ri \• \ '-; '"-,' •' ,; '• ,i i j ri h,,i,i t i
.... -
;.;,.. -v . _
I I M 1 J 1 1 M t
750
700
650
600
«; n
Percent Billion $
PERSONAL CONSUMPTION EXPENDITURES ** •AND PERSONAL SAVING RATE* /
' • .: ', , v^
Persona! Consumption * J*Expenditures '^^^
_ w™^' -^^^- /^ *** J %'"v^
^
-
/ Personal Saving Rate *Tx(right scale) | \
\ i t
Monthly (Sept.) BEA
Billion $ Billion $ Billion $
650
600
550
500
450
.WAGES AND SALARIES** ; ; '^^/*-
- ' • - Total ;'• • v , , ->p,v" :(left scale) . ^*s
\ .'•• i**"^--
~/^:'-::- , ' ' , ' , **«*•*
'"l M M iVt M 1-
f** : ' ': , Wanufacturing
(right scate)
...:""''- , '•
] \ 1 ') I i 1 \ 1 1 t
• ," / '-
>^;"iT^"'//•' ''"': '
V-VTl t f;i V - t ' i f
40
35
200 30
150 25
100 20
I t 1 1 f '""" • 1
14 100
12 75
10 50
8 25
6 0
" . ' ' • > ' • ' ' / ^ -, , ; . -\, - „- ' ' ,; ~ ', - '
,, Producers' umfrfe Equipment** , ;
- - : •-. : ; ;, ; .;•./ ; \- ,; • , '':. ^^-^y : - -' M. m— «—•'****''>»"' ' ««.''•*" "*~ """• : , ' ^T- ' ' - , ' ' '_ Non residential Structures^r ' • -. . ;
_-......„..-<•- • , - . - • ; ; • ; • . ;
.Residential Structures**. • ' ' ' ' ~ ~ • '
i i - - t :i i i *
****** "*"'""" ' —
*~
: \ •• \- - ; ! - • • -Quarterly (III) BEA Quarterly (ill) BEA
Billion $
"RETAIL STORE SALES* _^
' •' •
<^.
^^^,
~Z* '****"*
i l l I f 1 I 1 1 '! 1
Monthly (Sept.) BEA
Billion $ Million Units
850
800
750
700
650
DISPOSABLE PERSONAL INCOME** ;'•\ • - - - • • " • , - • ' „ ' • ' • • , . -
• * * ' ' • * , ' '" ' ; - , : '
' - • ' , •• • ' - -,', , "-,, ' ' - -jtr '-' " - - • • "' ' •• " ' *^s^'' •
-,,-;^/:, * , -^L^^^' , ' " ' • ' \ - ' " • jt- * "• • '
' ':^"X: ' • -; • ' ' ' • ' ' "~ ' ^^/^: i i i - ' I "'r '\ - - '
. ^V, - ' - / • -
•' ' • '';
ViV-V 1 ; •
12
10
8
6
4
IOif /^\^^ ~
^~^r~Excluding Automot
i t 1 1 [ 1 1 ] 1 1
.^^ -
ve Group
M \ I 1 1 M M 1
100
90
80
70
60
PLANtAND;EQUIPMEMIEXPENDlTURESM - . , .- - ' ~ ' ' • ; . ' , , . , ,
"," "-- ' ~- ~ , ., , - ' , - - - , -jf
^'^^^^' ,. . ' '- • ' , . ' - - - • " ' ' ' • : ' • ' *•:•' - ' '
^ ; - - . ' - ' '-';,?- >?•• ' •' '" ' , , ] '
''. ":c 'rv:r/^Lh-:i;" &/'.
; '' - • • ~
'•' :', '-- ;, _ , ' • ' ' - —
o Expected
:f ' t ' - ' i i
Monthly (Sept.) Census Quarterly (IV) BEA
Million Units Billion $
NEW CAR SALES**
- ' •Domestic(left scale)
A \
11
\-^:>-r*V\/r t i nh ri i i
Quarterly (III) BEA
Dollars Billion $2,900
2,800
2,700
2,600
•? snn
REAL PER CAPITA DISPOSABLE-:'; PERSONAL INCOME^ ;
I4lhf 1958 J)oilars) ; : : ; .-, • -
'; , ,-•'• -- --" -," '. ' • ' • ' , ' ' ' • - , S
"&^.' , _ ' , ; _ .>',-r','-'
' - -i v.r :r V - 1 : 1 - ' ' [ ' '
1.5
1.0
.5
0
-.5
A x/ ~A AP/\
"~^J \Imports
(right scale)
' • i JL*. •', *—• s
T I M i l l 1 M 1
-
- • . ••; -
1 I 1 I ! 1 1 M M
10
9
8
2 7
0 6
, , - - ' , ' ' ' - ,
CAPITAL fiQODS MANUFACTURERS^ "', ,; (WOHDEFENSE) / ; ^
-r-- • • ' " • ' • ' - ' - / ' ' - / ' • ' ' ' • ' ' - „ ?' / !- >"/*"**:< -• '••' . :* '::- ;/ ' *-: /." .'''•' ,-, l/^s •'- -
' - " - ' ' - ' : v - " '' ; ' • '• •• '•• -/^Ir . : .-- , • -".^ , •• :-, -1- , - , -,, f
" Shipments ;;t\; ; */-' -• ; ^\ /. % '"" :* '( '•"^••ff^ ,^7\-//\.X' ^•i*^w^;/'^;'-:'
v ; ";X Mew Orders
} M II 1 1 J M - f ' t \ \ \ i l l M II
''•V'' -'/.-:•/•""
'i '•• , -; :'.—
i '- 1 M 1 1 t n t i
Monthly (Sept.) Trade Sources & BEA Monthly (Aug.) Census
Million Units
' . • " *. -'i'NET CHANGE IN INSTALLMENT ' Kt\ ICREDIT OUTSTANDING* . A /V \7
"""' ; ' ,
V^\1 4v
I'M 1 M I I I 1 1 1
1970 1971 1972 1970
Quarterly (III) BEA
/\/VA "
rf i l l f 1 t i 1 1 ! III M 1 t M i l
3.0
2.5
2.0
•i c1 .0
10
/.PRIVATE HOUSING** ( ;
*~< ' - , .• ;\ - / ; , /: .; '...;\' ' • ''/
.''•-':' , ' • • ' • - , , , ' - " - • ;
/{ ?/"'
• •' .' ; ^tark > ' ' "' : >J&\!r.-*„ ; Otal t& v,- , Jf^* * 1 ~
'*f M M" l - f - i - 1 1' 1 M.f 1 I -1 I- M-,tM
* \ A ~
• \/ ' /'**
1 1 M 1,1 1, 1 l I 1
1971 1972 1970 1971 1972
Monthly (Aug.) FRB Monthly (Sept.) Census
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
fctober-1972 SURVEY OF CURRENT BUSINESS 9
• In third quarter: Inventory investment showed little change• Net exports rose $1% billion
INVENTORIES FOREIGN TRANSACTIONS GOVERNMENTBillion $ Billion $30
20
10
o
-10
CHANGE IN BUSINESS INVENTORIES** / V :
, (GNP BasisJ • ; ' ; < • ) • " • ''v^-x. >':/.: ' -— - - - , - ' ; X ./"-v - ; > - ; '"'X " : ~
1 • ' '-" - - - - - V X - - ' - ;v -- - - .:• -- . " V " x X < -X- X- * ; ' - ; : - « v '"\ ' ' •;.' .'•'; - , " • - -- -
-III •llt£l!li • "• ' • X. , X ~ ! -,", \ - - -XX , ••: * X" _ , - - "; ' - , ' - - - - '
10
5
-5
-10
NET -EXPORTS'*'
Billion $
c - / , , ' -
Goods and Services ; , ;/"~/, - ^../•""piz^xi
'*** - •" " ' • ***v-'
• , -- , ' - -
, - - , -
t . "' 1 . 1 ,Quarterly (ill) BEA
Billion $ Billion $
200
190
180
170
160
: MANUFACTURf^AND TRADEiNVENlORIES*^ '(Book ValueXEnd $ Affitnjx , ; ;f; ! -.
-" • ' \ " , - • ' ' . ' ;.: *'XX;;X; • . X / ';':/' ;; :;-
' ; :";--: ' * '/•:••• / '*X- :\x' X ;*'X X>^-':: -V"- - ' , - • ' ' " ' • , ''X x ; f^^:\^^^- :- x
1':, ''''; ?X ':••'• p^Mf' -6 ->-
'• -. ':].^f^^K^--^:f^ ' :.
">^-\.:^y^^fi-^^r-f M t 1 M f I 1 I 11 V it I II M 1 h Ml 1 t i t II
0
5
4
3
2
• • - ,- ' - • • • - • ; - , , -
\ - , - • • X- ' ' ' - -
-V^Li. •-:' V ' ; ' - - - . 7 ' - . - "
WtO ;Merchandise *», , * .-
- ' - ' • - , - ' -';' ' , - " ,;'*****» '-"'-
i i i ^ i i ' i
200
160
120
80
40
- > - - - - - ' • -: GOVERNMENT PURCHASES OF
; GOODS AND SERVICES** ; x ^ :V v -
; x -• " ,x 'Staterand .Local- ;- : <<^r~~~*~~~ :
:-"^^^ :; ! ;: ; ,
':^. ,H;^^^" ; - , , ; - ; - / ' , ' , , • - , ' - - - - , - , ' „ - - ' ;' X' V
"'"-"SST"""-""""""^"""' •x'r"r; ; • • ;
Quarterly (ill) BEA Quarterly (III) BEA
Billion $
MERCHANDISE TRADE*
„-• 'v - • • • •- ' . -
- Exports
i\£xp^~ Imports
1 1 M ill 1 M 1
Monthly (Aug.) Census & BEA
Billion $ Billion $
140
120
80
60
lyiANOFACTURlNG AND TRADE INVENTORJES*, tBoqk Value^Ehd iorrtHKv';/ -W.;'V, ; ^ v
""- *•: ' , ' - ^':-..w^V:' f:\v-\\ -,\\ / " •'. '^ '-.'\"
,:':Manujachiriiig--V/'! / ;- . " • • - / v- - : - v ,Vn 'V^ . < , - / . . • x :• . -p-. •'."
-'" '*:* ' "--;> - /"/-V" ,:'-'-,' ' - - - '" " •;' '•-:' ; .-- :;- v,/ ,«,..w-» ' " ,-/ -*'
' '••^ ':-,"'' ;w;..* - ' '; '•': ': >rV" :^-> : ' - -:r: :
II 1 1 J t t 1M ( I l i t 1 1 1 M t i 1 1 1 1 VI 1 1 1 1 1
10
5
0
-5
-10
, , ; , ' - ' . - ' • • , - ; ' - , , , -- '' , - '" X ' ' - ,- - ' ; ' - ' - ' ; ' X' -- - ;__
v • ' ! ' • ' • ' • ' -: '--,;• ' -• ->-/:.\ - • . •*!•' x /*v**»«-^** ' - . -
y^Jl •$&*:•' ~
I /
J H M 1 1 1 I 1 ! 1 M 1 1 | LJ t II
280
240
200
160
i9n
', - - - - - - - ''FEDERAL BUDGET**' ; , - \ V , / .
- (NIA Basis) ,/.- - , - . ; ; - . . • ; x, x •< ;:- ' ' ' • " V' ' ,' ", ' ' " - X ''>-*T*v'**""" - ' ~
Expenditures ' ' ;'' >•;**** ';^^---- -x- >" '-'- . _ _ / _ _ / / \ ' ;.,.»*"*"""' - , " *-* -f-^*" '•' , - •
-x II -----< :t:;:: /' ' •-- - ' - , '..-/— • - ' , . - • • v .' :, ; - ' - ;X - - , - - • - „ - ' " ' '
-'Receipts. / -, ,x;x- '-- ' ' . '';':;":x~-'\'' - '
1 f V 1 1 1- ' 1 , 1 I X
Monthly (Aug.) Census Quarterly (III) BEA
Billion $
BALANCE OF PAYMENTS*„. . . ,- - • - ,- , • ::, ... --'--; ,- --- , : ,-, , - , ^
5 .Current Account , V f•"^ ' ••V/-
-; Current Account and ;/.-.-.. - - , - -- ..s" ' -,- -5 ' ~ ! - -
: :• 'i • ' i - -r-''Monthly (Aug.) Census & BEA
Ratio Billion $
2.6
1 8
1 4
1.0
IMVFWTfiRY/^&i'P^s" RftTtfl^*- -; -•'- ! • ' • '•• - *" ,'llTTi-lt lur\ i/OrVLt-o l»nl|UO ;-;-.-! ~ - - - - - - / - " - , - ' - •
Ma^ufaet«r^^^ : > ; ;
- • - - - - - - -V-"X" N'~ - " - ; - , / ; V - ' - , - - ' - , , - -' ' ; - , ' "'^X^^<;:vV;>-^^^',;/ ;^
; , .r:^ ,'- -,; _
" •" ' ' ^''*'"~'-:^'''':''''^''''^*-\:'^1^^''^^''^- "- '•'
^?;S-:--^^7£'5-^^^-^::;^jfr--^^\%-^%^^^;^^;^-:^c-'x^.;l^y^^r-::;^--v^;ni;M i:i;n M/ t ^rri Itn i r ;;r;i ? i 1 1 V f t i t
5
-5
-10
-15
Cong-Terin Capital V: \x
, : 1 t l ! | / T I
50
25
-25
-SO
FEdERAl BUDGET POSmOM**; : x ! ;/"(NIA.Basfs) ." ;; x' - ; - .. " .}* v:,/'.,i , - - ; /J
- - ' • - - , ' - ' X- '• ' - - . X . X -- X • ' • • - ' - ! - - - X > - ; XX- • - - ' - • • •
- - ' -• ; - V . - ' : - . -' • , . . - - - -5 - ' - - - ' - , - ; - - -- - ,,
^ \,-', ^y- •• ^1 „ , l' ^1 ; l, -' 1 , -W1-^!' -'",
X .-; . - ; • " . . ' • • • • - - ' : - - - ' - " {1 1 1 1 1 1 X i ;I - 1
Quarterly (II) BEA Quarterly (11) BEA
Billion $
- --, ;-;;/- --,-\, ".- --•"• ^; , - , • - . . - , ' f - •; - y ^ " - -^^ • ,
/*" ,., 4-:^s
', ' V "y:. ' **'»»-i Official Reserve''
Transactions; Balance^ : • ;
1970 1971 1972 1970
Monthly (Aug.) Census & BEA
^ Net titiuidfity, :-^ '"/*-' ': ;
^t , Ba lance -,j^r^-v^x>:^^ - - - : \ _;:>:V***.X :-; •'/* = " • ' • . ' ' • ;/- - -•""-- y -'S\ -' -/»* • ' / - - - - - -^:^/r 'v'xj-xv /:-.-.•••: /- 'W/. ' , "V'xV'V; .
' . ••><-' :r \7.,-- ' ' ' • ••.,-"-:. <;v ;
•/;•- - V v - - s - " - ;";" ; - -- -,'x • • =. '-.•|v ' '-V- :"i. 'v- . :-;:r/-V.-l '"-'"
4
2
1
0
; -DEFENSE PRODUCTS S1ANBFACTURERS* ; ;; '
" ' ' : - „ - • ' ' - - v -:-^:; - - - - ;> --;':: ,\:. ; " ' >'\v " ; - . - . ' • ." '- ' . - • ';, ;x ;Sfiipments xv ' '.;„;;' % ! :,<-',:
X • ' -- - - , - " - ,! • ' , , \ - - ' , - ' - ' - ' « « ' ' - i \ -
w*~**N--Sfc- "v -• -^V! - fa'* • - * - / ' ? ' % '-^ '1 /*<'»**-^^^V^^ ^"\Z«V r ,?*»Sr/ -i\ •' ^ '
5 -- , -,,--', - -, ,,,4 : ,; , „ _ . ; , _ - - y, ,- - - - - - - ' >> ! -- , / - - - - , , - , . -_,- , -- , -
i l l i V t,--f:i-t i i i - f i l i l t i f f i i i i i t 1 i i i i \
1971 1972 1970 1971 1972
Quarterly (II) BEA Monthly (Aug.) Census
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
10 SURVEY OF CURRENT BUSINESS October 1972
• In September: Industrial production increased about 1/2 of 1 percent9 Bank credit continued to advance sharply, money supply increased moderately
CHART 6
* Interest rate on 3-month Treasury bills rose sharply, yields on corporate bonds little changed
INDUSTRIAL PRODUCTION MONEY, CREDIT, AND SECURITIES MARKETS PROFITS AND COSTS
1967 = 100 Billion $ Billion $ Billion $
130
120
110
100
90
INDUSTRIAL PRODUCTION*
Nondurable ,. ****Manufactures
./ ....-•]vv „.«»•*» »***»** Tntal
,r " \ / *~'^^s^\ . . ' •\j Durable
Manufactures1 I i i i 1 1 I I I 1 1 t 1 1 I 1 1 i 1 1
.**
^
/^
r"*~/
s _
1 1 1 1 1 1 1 t 1 1 1
550
500
450
400
350
BANK CREDIT AND MONEY SUPPLY* /
JT "***
Money Supply ^^\~ (right scale) ^^Bank Credit
....- ^
~*^^
1 1 ! 1 1 ! I I i 1 J
(left scale)
i i M 1 1 i i i M
/'"" :
•~
'
I M M i MM 1
260 125
240 100
220 75
200 50
180 25
CORPORATE PROFITS AND IVA, BEFORE TAXES**
-
Total— \
,:-/ : ' ^ '.............
*»».»*
i i iX
Monthly (Sept.) FRB Monthly (Sept.) FRB
1967=100 Billion $ Billion $ Billion $
150
125
100
75
50
INDUSTRIAL PRODUCTION*
Steel\
-— -^£V j&vT T^^^— t \/f i A t% /*' / 1
1 (\S
\lI If
i i i i i 1 i i it M ; i i ] i i i i i
J-
^
1 i 1 1 1 1 1 , i 1
6
4
2
o
-1
BANK RESERVES -X"
Total Reserves* f/(right scale) . A
\ /^A Sx/
A/
^ /-** \f
1 1 i 1 I I I . J 1 1
-V^ Net Free Reserves
(left scale)\ ,.
\.s*
i i i i 1 1 i i i i i
^^'**•»
i i ; i i 1 i M i i
34 125
32 100
30 75
28 50
26 25
^— -^ •— |/^
..-"'•• ..*.....-'":'
/
NonfinancialCorporations
i i i
Quarterly (II)
' -
^, —
..-••<* ,
—
1 1 1
BEA
CORPORATE CASH FLOW AND PROFITS**
- ,
Cash Flow After ^.^rDividends ^^•""""i
i . < ^t***"^\
- -^^
Profits After Tax
.»...........; .
i i iMonthly (Sept.) FRB Monthly (Sept.) FRB
Percent Percent Percent
100
90
80
60
RATIO, OUTPUT TO CAPACITY*
- ' - > ' ,
^~^l *><*v\ Manufacturing „;" ' ! ~ ^V- s \ ' - ~ " " "- ' -^
I I I I I I
***^
1 1 1
10
8
6
2
INTEREST RATES AND BOND YIELD
_\^^^- Corporate Aaa (Moody's)
NVXv \/N\
3-Month V,Treasury Bills -,
i i i i i i i 1 1 i
90-DayCommercial Paper
<.**N **»,
\./l
i i i i 1 1 i i i i i
-
/^
i i j i i l i i j i
24
16
8
-8
*****
I I I
Quarterly (II)
-
.—•*
1 1 1
BEA
COMPENSATION AND REAL OUTPUT PER MAN-HOUR,PRIVATE ECONOMY**
_ (Change From Previous Quarter) _
Compensation\ Output
~- ' — mm |~ «•«
ill 1
Quarterly (II) FRB Monthly (Sept.)
Billion $ 1941-43=10 Percent
40
36
32
28
24
DURABLE GOODS MANUFACTURERS*
- -"
A/
Shipments
j*£^A^%f NewLrs
1 f II 1 1 1 t . 1 I l 1 i f i 1 l i t 1
r
f i i i r 1 i t .' i r
140
120
100
on
60
STOCK PRICES
-. , • . _
Standard and Poor's 500 ^***S*
/^s\(
^\ r^1 1 1 1 ! J i i i 1 i i j i i ! i i ; i
S
1 l 1 1 l ! i l 1 1 • 1
24
16
8
-8
\.^^3 IS — ' —
f Jit.Quarterly (II)
=
BLS
UNIT LABOR COSTS, PRIVATE ECONOMY **(Change From Previous Quarter)
-
1:
. •!1970 1971 1972 1970 1971 1972 1970
Monthly (Aug.) Census Monthly (Sept.)
.II.
1971
Quarterly 00
—
-
1
1972
BLS
* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates
U.S. Department of Commerce, Bureau of Economic Analysis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS
NATIONAL INCOME AND PRODUCT TABLES
11
1970 1971
1971
II III IV
1972
I II III*
Seasonally adjusted at annual rates
Billions of current dollars
1970 1971
1971
II III IV
1972
I II III 9
Seasonally adjusted at annual rates
Billions of 1958 dollars
Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)
Gross national product....
Personal consumption expenditures
Durable goods. _Nondurable goods __Services.... _
Gross private domestic investmentFixed investment. _.
NonresidentialStructuresProducers' durable equipment
Residential structuresNonfarmFarm
C hange in business inventoriesNonfarmFarm
Net exports of goods and services
ExportsImports
Government purchases of goods and services
Federal. .National defense. ..Other.
State and local
976 4
616 8
90.5264.4261.8
137 1132 2
100 936 064 9
31.230 7
5
4.94 8
1
3 6
62 969 3
219.0
96 575.121.5
122.5
1,050 4
664 9
103 5278 1283.3
152 0148 3
105 838 467 4
42.642 0
6
3.62 41 2
.7
66 165.4
232.8
97.871.426.3
135.0
1,043 0
660 4
101 9277.2281.3
153 0146 4
105 038 366 7
41.440 9
5
6.65 11 5
.1
66 766 6
229.5
96.371.225.0
133.3
1 056 9
670 7
106 1278 5286 1
152 2150 9
106 338 767 6
44 543 9
7
13_ 21 6
4
68 568 2
233.6
97 970.127.8
135 7
1 078 1
680 5
106 1283 4290 9
158 8157 2
109 838 871 0
47.346 7
6
1.7gg
-2 1
63 065.1
240.9
100.771.928.7
140.2
1 109 1
696 1
111 0288 3296 7
168 1167 7
116 141 374 8
51.651 0
6
.413
—4.6
70 775.3
249.4
105.776.728.9
143.7
1 139 4
713 4
113 9297 2302 4
177 0172 0
119 242 077 2
52.852 1
6
5.04 3.7
-5.2
70.075.2
254.1
108.178.629.6
146 0
1 162 2
728 1
118 4301 4308 3
181 0175 3
121 141 679 4
54 253 4
3
5 75 3
4
—3 4
75 078 4
256.6
106 275 231 0
150 4
722 1
477 0
83 1207.0186.8
104 099.9
77 623 654 0
22.322 0
4
4.14 0
0
2.2
52 260.0
139.0
64 7
74.3
741 7
495 4
92 1211.1192.2
108 6105 9
76 822 854 0
29.128 7
4
2.61 61 i
.1
52 652.5
137.6
60.8
76.8
737 9
493 0
90 0211.2191.8
110 0104 7
76 423 053 3
28.328 0
4
6.34 01 3
—.7
63.053.8
135.7
59.7
76.0
742 5
497 4
94 2210 5192.8
107 3106 6
76 422 553 9
30.129 7
5
.7— 61 3
.1
54.454.3
137.6
61.0
76.7
754 5
503 2
95 4212 8195.0
112 0111.3
79 222 267.0
32.131 7
4
.7— i
.8
-1.8
49.951.7
141.1
62.3
78.8
766 5
511 0
98.6214.7197.7
116.6116.3
82.223.059.2
34.233.8
.4
.3-.1
.3
—3.3
65.558.9
142.2
62.8
79.4
783.9
520 9
100 7220 1200.0
122 0118 0
83 623 060 6
34.434 0
.4
3.93 4.5
-2.8
54.257.0
143.9
63.7
80.3
795.3
528 7
104 4221.7202.6
123.9119.4
84 422 561 9
35.034 5
5
4.54 2
3
-.8
57.758.5
143.6
61.6
81.9
Table 2.—-Gross National Product by Major Type of Product in Current and Constant Dollars (1.3, 1.5)
Gross national product
Final salesChange in business inventories
Goods output _
Final salesChange in business inventories .
Durable goods ...Final salesChange in business inventories
Nondurable goodsFinal sales _ _ _ •Change in business inventories
Services .
Structures..-
976.4
971 54 9
471.9
467 04.9
184 9183.0
1.9
287 0284 0
3 0
409 2
95 4
1,050.4
1 046 73 6
495.5
491 83.6
195 7194 6
1.1
299 8297 3
2 5
443 9
111 0
1,043.0
1 036 46 6
492.4
485 86.6
194 5191 0
3 6
297 9294 8
3 1
441 1
109 5
1,056.9
1 055 6' 1 3
497.5
496 21.3
196 7197 7—1 0
300 8298 5
2 3
446 7
112 7
1,078.1
1 076 41 7
504.8
503 11.7
198 2200 1—1 9
306 6303 0
3 5
456 3
117.0
1,109.1
1 108 64
517 6
517 2.4
209 2208 8
4
308 4308 4o467 3
124 2
1 139 4
1 134 45 0
537 1
532 15.0
217.6214.6
3.0
319.6317.5
2.1
477 3
125 0
1 162 2
1 156 65 7
548 7
543 15 7
222 2220 7
1 5
326 5322 4
4 1
487 5
126 0
722.1
718 04 1
385 8
381 74.1
160 0158 6
1 4
225 8223 2
2 6
272 5
63.8
741.7
739 12 6
393.8
391 22.6
164.5163.8
.6
229 4227. 3
2.0
278.4
69.5
737.9
732.65.3
391.0
385 75.3
162.8160.0
2.8
228.3225. 7
2.6
278.2
68.8
742.5
741.7.7
394.5
393.7.7
164.9166.0-1.1
229.5227.7
1.9
278.4
69.6
754.5
753.8.7
400.4
399.7.7
167.4169.5-2.1
233.0230.2
2.8
282.3
71.8
766.5
766.3.3
407.0
406.8.3
175.0174.8
.3
232.0232.0
.0
285.2
74.3
783.9
780.03.9
420.7
416.73.9
181.4179.1
2.3
239.2237.6
1.6
289.3
74.0
795.3
790.84.5
428.0
423.44.5
184.8183.6
1.2
243.2239.8
3.4
293.5
73.9
Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)
Gross national product
Private
Business _NonfarmFarm .
Households and institutions
Eest of the world
General government -
976 4
861 8
826 3797 328 9
30 9
4 6
114 7
1 050 4
925 6
884 7853 930 9
33 9
6 9
124 8
1 043 0
919 3
878 7848 530 2
33 2
7 4
123 7
1 056 9
931 4
890 9859 631 2
34 3
6 2
125 5
1 078 1
950 2
906 6874 532 1
35 1
8 5
127 9
1 109 1
976 6
933 7901 831 9
36 0
6 8
132 5
1 139 4
1 005 0
960 8928.232.6
37.3
6.9
134 4
1 162 2
1 024 9
979 3946 333 0
38 5
7 1
137 3
722.1
661.3
640 7616 024 7
16 7
4 0
60 7
741.7
681.0
658 5633.025.5
16 9
5.6
60 7
737.9
677.5
654.8629.325.4
16.7
6.0
60.5
742.5
681.7
659.8633.925.9
16.9
5.0
60.8
754.5
693.7
669.8644.8,25.0
17.1
6.8
60.8
766.5
705.6
682.9659.223.8
17.4
5.4
60.9
783.9
723.0
700.1676. 423.8
17.7
5.2
60.9
795.3
733.7
710.4688.0
22.4
18.1
5.2
61.6
HISTORICAL STATISTICS
National income and product data for 1929-63 are in The National Income and Product Accounts of the United States, 1929-1965,Statistical Tables (available at $1 from Commerce Department Field Offices or the Superintendent of Documents; see addresses insidefront cover). Each July SURVEY contains preliminary data for the latest 2 years and final data for the preceding 2. The July 1972 issue hasdata for 1968-71. BEA will provide on request a reprint of final data for the years 1964-67. Prior July issues have final data as follows:1964-65, July 1968; 1965-66, July 1969; 1966-67, July 1970; 1967-68, July 1971.
9 Preliminary.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
12 SUEVEY OF CUKKENT BUSINESS October 1972
1970 1971
1971
II III IV
1972
I II III *
Seasonally adjusted at annual rates
Billions of doUars
Table 4. — Relation of Gross National Product, National Income,and Personal Income (1.9)
Gross national product
Less: Capital consumptionallowances
Equals: Net national product-
Less: Indirect business taxand nontax liability- _
Business transfer pay-ments
Statistical discrepancy ..
Plus: Subsidies less currentsurplus of govern-ment enterprises
Equals: National income
Less: Corporate profits andinventory valuationadjustment _ __
Contributions for socialinsurance
Wage accruals less dis-bursements _ _ _
Plus: Government transferpayments to persons-
Interest paid by gov-ernment (net) and byconsumers
DividendsBusiness transfer pay-
ments
Equals: Personal income
976.4
86.3
890.1
93.4
4.2-4.7
1.5
798.6
69.9
57.7
.0
75.2
31. 024.8
4.2
806.3
1,050.4
93.8
956.6
101.9
4.6-4.8
.9
855.7
78.6
65.3
.6
89. 0
31.125.4
4.6
861.4
1,043.0 ]
92.4
950.6
100.3
4.6-4.9
.8
851.4
80.1
64.8
.2
90.7
31.025.4
4.6
858.1
1,056.9
95.0
961.9
102. 6
4.7-5.9
.3
860.8
78.3
65.7
.6
90.3
31.125.5
4.7
867.9
1,078.1
97.4
980.7
105.6
4.7-5.2
.7
876.2
79.4
66.9
1.4
92.1
30.925.2
4.7
881.5
1,109.1
99.7
1,009.3
106.7
4.8-4.1
1.2
903.1
81.8
71.9
-1.4
94.4
30.926.0
4.8
907.0
1,139.4
105.3
1,034.1
108.7
4.9-.1
1.6
922.1
86.1
73.1
-.5
95.7
31.826.2
4.9
922.1
L, 162. 2
104.1
1,058.1
111. 1
5.0
1.9
74.4
-.2
97.8
31.726.5
5.0
939.5
Table 5. — Gross Auto Product in Current and Constant Dollars(1.15, 1.16)
Gross auto product 1 _ _ _ _
Personal consumptionexpenditures
Producers' durable equip-ment
Change in dealers' autoinventories
Net exportsExports _ _-Imports
Addenda:
New cars, domestic 2
New cars, foreign
Gross auto product l _ _ _ _
Personal consumptionexpenditures __•--
Producers' durable equip-ment
Change in dealers' autoin vp.n tories
N e t exports _ _ _ _ _ _ _ _ _ExportsImports
Addenda:
New cars, domestic 2
New cars, foreign
Billions of current dollars
30.7
28.0
4.9
-.9
-1.72.03.7
26.06.3
40.9
35.4
6.2
1.4
-2.52.55.1
35. 77.8
40.1
34.3
6.1
1.6
-2.32.64.9
34.18.3
42.4
37.1
6.5
1.2
-2.92.85.7
37. 97.7
38.8
35.9
6.3
-1.2
-2.82.25.0
34.07. 4
39.9
36.9
6.5
-.9
-3.02.75.7
34.48.5
41.5
38.2
6.7
-.6
-3.22.75.9
36.28.7
44.7
41.3
7.3
-.6
-3.83.16.9
39.89.2
BiUions of 1958 doUars
28.4
26.0
4.6
-.9
-1.71.93.6
24.76.0
36.4
31.4
5.6
1.3
-2.32.34.6
32.57.1
34.8
29. 7
5.3
1.5
-2.12.44.5
30.57.4
37.8
33.1
5.9
1.1
-2.62.65.2
34.57.0
35.8
33.1
5.9
-1.1
-2.52.04.6
31.96.9
35.6
32. 9
5.9
-.8
-2.72.45.0
31.47.8
37.0
33.9
6.1
-.6
-2.92.45.2
32.87.9
39.6
36.5
6.5
-.5
-3.32.86.1
35.88.4
1970 1971
1971
II III IV
1972
I II III"
Seasonally adjusted at annual rates
Billion of dollars
Table 6.—National Income by Type of Income (1.10)
National income...
Compensation of employees
Wages and salaries :_ _.
PrivateMilitaryGovernment civilian
Supplements to wages and salaries __Employer contributions for social
insurance _.. __
Other labor income
Proprietor's income
Business and professional-Farm
Rental income of persons...
Corporate profits and inventory valua-tion adjustment _ _ _ _ _ .
Profits before tax
Profit tax liability _Profits after tax.
DividendsUndistributed profits _
Inventory valuation adjustment
Net interest
798.6
603 8
541.9
426.819.695.5
61.9
29.7
32.1
66 8
49.916 9
23.3
69.9
74.3
34.140.224.815.4
-4.4
34 8
855 7
644 1
573.5
449 719.4
104.4
70.7
34.1
36.5
70 0
52.617 3
24 5
78 6
83.3
37.345.925.420.5
-4. 7
38 5
851 4
639 6
569. 6
447 019 4
103 3
70.0
33.8
36 1
69 3
52 416 9
24 4
80 1
84.5
38.645.825 420.4
-4.4
38 1
860 8
648 0
576 5
451 618 8
106 0
71. 5
34.3
37 2
70 7
53. 117 6
24 8
78 3
84.1
37. 546.625.521.0
-5.8
39 1
876 2
660 4
587 3
460 919 4
107 0
73.0
35 0
38 0
71 g
53 818 1
25 0
79 4
83.2
35. 348.025 222.7
-3.9
39 7
903 1
682 7
606 6
475 820 8
110.0
76. 1
37.3
38 8
73 3
54 319 1
25 2
81 8
88.2
38.849.526 023.5
-6.5
40 1
922 1
697 8
620 0
487 120 5
112 4
77.8
38.0
39 g
73 2
54 418 7
24 2
86 1
91.6
40 151.526.225 3
-5.5
40 9
709 7
630 2
494 520 3
115 3
79.5
38 7
40 8
75 3
56 219 1
26 2
26 5
-6.1
41 7
Table 7.—National Income by Industry Division (1.11)
All industries, total
Agriculture, forestry, and fisheriesMining and constructionManufacturing _ _ _ _ _ _
Nondurable goodsDurable goods
Transportation _ _ _ _ _ _C oTnmunicationElectric, gas, and sanitary services. _ . .Wholesale a n d retail trade _ _ _ _ _ _
Finance, insurance, and real estate. _ _ _ServicesGovernment and government enter-
prisesRest of the world _ _ _ _
798.6
25.550.5
216.387.5
128.7
29.716.814.6
121. 2
90.0102.7
126.84.6
855.7
26.554.2
223.290.3
132.9
32.518.216.3
130.8
98.7110.6
137.96.9
851.4
25.953.9
223.190.0
133.1
32.618.216.4
130. 2
97.9109.4
136.57.4
860.8
26.754 4
222.390.7
131. 6
33.117.816.7
132.5
100. 2111.8
139. 26.2
876.2
27.455 7
226.891.7
135. 1
33 018. 816.4
133.7
100.8114.0
141.18.5
903.1
28.557 5
238 094.8
143.1
34.819.716.6
135. 8
102.3117.1
145.96.8
922 1
28.257 3
245.696.3
149.3
35.020.517.9
138. 8
103.6120.2
148.16.9
_ . _ _ . _
Table 8.—Corporate Profits (Before Tax) and Inventory ValuationAdjustment by Broad Industry Groups (6.12)
All industries, total
Financial institutions. ~ .
Federal Reserve banksOther financial institutions
Nonfinancial corporations _ _ _ -
Manufacturing _ _ _ __Nondurable goods - .Durable goods _ _
Transportation, communication,and public utilities
All other industries
69.9
14.5
3.610.9
55.4
27.716.711.0
7.620.1
78.6
16.7
3.313.3
61.9
30.916.814.1
8.222.9
80.1
16.4
3.213.2
63.7
31.216.814.4
8.823.7
78.3
17.0
3.413.6
61.3
30.116.913.3
8.522.6
79.4
16.6
3.313.3
62.7
31.216.914.3
7.623.9
81.8
16.5
3.413.2
65.2
35.417.717.7
7.822.0
86.1
17.5
3.314.2
68.5
37.017.619.4
8.822.8
— —
1. The gross auto product total includes government purchases.2. Differs from the gross auto product total by the markup on both used cars and foreign
cars.'Preliminary.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUBVEY OF CURKENT BUSINESS 13
1970 1971
1971 1972
II III IV II III«
Seasonally adjusted at annual rates
Billions of dollars
Table 9.—Gross Corporate Product 1 (1.14)
Gross corporate product .
Capital consumption allowancesIndirect business taxes plus transfer
payments less subsidies
Income originating in corporate busi-ness ---
Compensation of employeesWages and salariesSupplements _ _ __
Net interest
Corporate profits and inventoryvaluation adjustment
Profits before taxProfits tax liability .. _ __Profits after tax... __..... ..
DividendsUndistributed profits
Inventory valuation adjustment- .
Cash flow, gross of dividendsCash flow, net of dividends....
Gross product originating infinancial institutions . _ . . :
Gross product originating innonfi nancial corporations.
Capital consumption allowancesIndirect business taxes plus transfer
payments less subsidies.
Income originating in nonfinancialcorporations
Compensation of employeesWages and salaries --
Supplements
Net interest
Corporate profits and inventoryvaluation adjustment
Profits before tax__._ ..Profits tax liability.. . _Profits after tax
Dividends _ _ . . 'Undistributed profits ..
Inventory valuation adjustment. _
Cash flow, gross of dividends . . .Cash flow, net of dividends _..
Gross product originating innonfinancial corporations. - - . _ _
Current dollar cost per unit of1958 dollar gross productoriginating in nonfinancialcorporations 2
Capital consumption allowancesIndirect business taxes plus transfer
payments less subsidies • _Compensation of employees. . . _ _ _ :Net interest
Corporate profits and inventory valu-ation adjustment---.
Profits tax liability.Profits after tax plus inven-
tory valuation adjustment. .
544.4
55.2
•52.8
436.5
368. 8325.543.2
2.6
65.269.634.135.422.413.0
-4.4
90.668. 2
28.3
516. 1
53.2
50.3
412. 6
346.9306.540.4
15.0
50.755.126.928.219.98.3
-4.4
81.461. 5
580.3
60.3
56.9
463.1
388.8340.248. 6
1.5
72.877.437.340.122.217.9
—4.7
100.478.2
30.9
549.4
58.0
54.3
437.2
365.0319.645.3
16.1
56.160.829.431.319.511.9
-4.7
89.369.8
577. 6
59.4
56.0
462.2
386.8338.648.3
1.6
73.878.138.639.521.917.7
-4.4
98.977.0
30.7
546.9
57.1
53.4
436,3
363. 0318.045.0
16.0
57.461.730.830.919.211.7
-4.4
88.068.8
583.4
61.2
57.2
465.0
390.4341.249.1
1.3
73.379.137.541.622.818.8
—5.8
102. 880.0
31.2
552.2
58.8
54.6
438.8
366 2320.445.8
16.3
56.362.129.532.620.012.6
-5.8
91.571.4
593.5
63.0
58.9
471.6
398.2348.150.1
1.2
72.276.135.340.821 119.7
—3.9
103.882.7
30.9
562.6
60.5
56. 2
445.9
373.8327.146.7
16.6
55.659.427.432.018.613.5
-3.9
92.573.9
613.7
64.8
59.2
489.8
412.2359.752.5
1.1
76.582.938.844.223.021.2
—6.5
109.085.9
31.4
582.4
62.1
56. 5
463.8
387.0338.048.9
16.8
59.966.431.135.420.315.1
-6.5
97.577.2
631. 9
68.0
60.2
503.7
422.4368.653.8
1.0
80.385.940.145.823.022.8
—5.5
113.890.8
32.6
599.3
65.2
57.4
476.6
396.7346.550.2
17.1
62.868.432.136.320.316.0
—5.5
101.581.3
68.4
61.5
428.9374.0
54.8
1.0
~-6." I
65.5
58.7
402.7351.551.2
17.4
-6.1
Billions of 1958 dollars
427. 4 438.8 436.8 438.9 447.3 459.6 471. 7
Dollars
1.208
. 124
118.812.035
.119
.063
.056
1.252
.132
124.832.037
128.067
.061
1.252
.131
122.831.037
131.071
.061
1.258
.134
124.834.037
128.067
.061
1. 258
.135
126.836. 037
124.061
.063
1. 267
.135
123.842.037
130.068
. 063
1.271
.138
.122
.841
.036
.133
.068
.065
1. Excludes gross product originating in the rest of the world.2. This is equal to the deflator for gross product of nonfinancial corporations, with the
decimal point shifted two places to the left.3. Personal saving as a percentage of disposable personal income.v Preliminary.
1970 1971
1971
II III IV
1972
I II III*
Seasonally adjusted at annual rates
Billions of dollars
Table 10.—Personal Income and its Disposition (2.1)
Personal incomeWage and salary disbursements.
Commodity-producing industries ._Manufacturing.
Distributive industriesService industriesGovernment
Other labor incomeProprietors' income
Business and professionalFarm. _ .
Rental income of persons ..Dividends—....... .....Personal interest incomeTransfer payments ._ _
Old-age, survivors, disability, andhealth insurance benefits
State unemployment insurancebenefits
Veterans benefits .Other
Less: Personal contributions forsocial insurance _
Less: Personal tax and nontax pay-ments
Equals: Disposable personal income. . .^ess: Personal outlays
Personal consumption expenditures-Interest paidby consumers .Personal transfer payments to for-
eignersEquals:PersonaI saving
Addenda:Disposable personal income :
Total, billions of 1958 dollarsPer capita current dollarsPer capita 1958 dollars .
Personal saving rate.3 percent.
806 3541. 9201.0158.3129. 296 7
115 132 166 849 916.923.324.865.879.5
38.5
3 99.7
27 4
28.0
116 7
689.5634.7616.816.9
1 054.9
533.23,3662,603
8.0
861 4572.9206. 1160 3138.2105 0123 536 570 052 617.324 525.469.693.6
44.5
5 711.332 2
31.2
117 0744.4683 4664.917. 6
1 060.9
554.73, 5952,679
8.2
858 1569.5205.7160.2137.2103 9122 736 169 352 416 924.425.469.195.2
46.7
5 711 231 6
31.0
115 2742.9678.8660.417.5
.964.1
554.63 5922,682
8.6
867 9575.9206.0160 0139. 1106 3124 637 270 753 117 624 825.570.295.0
45 0
5 911 332 8
31.3
117 5750.4689 4670.717.6
1 i
61.0
556.53 6202,684
8.1
881 5585.9209. 9162 7141.7108 4125 938 071 853 818 125 025.270.696.8
45 7
6 211 633 3
31.9
123 0758.5699 2680.517.7
1159.3
560.93 6492,698
7.8
907 0608.0217.5168 8147 2111 9131 438 873 354 319 i
25 226.071.099.2
46 8
5 411 935 1
34.6
136 5770.5714 9696.117. 8
1.055.7
565. 73 7002,716
7.2
922 1620.5222.6174 1150 1114 7133 139 873 254 418 724 226 272 7
100 6
48 1
5 612 334 6
35.1
139 5782.6732 5713.418.0
1 150.1
571.43 7512 739
6.4
939 5630.4224.9176 5152 3117 5135 740 875 356 219 126 226 573.4
102.7
48.8
5.812.635.6
35.7
140.8798.7747.4728.118.2
1.151.3
579.93 8212,774
6.4
Table 11.—Personal Consumption Expenditures by Major Type (2.3)
Personal consumption expendi-tures
Durable goods .
Automobiles and partsMobile homes. _. . ..
Furniture and household equip-ment
Other
Nondurable goods. ..
Food and beveragesClothing a n d shoes.. _ _ _ _ _ _ _ _ _ _Gasoline and oilOther _
Services _ _
Housing _Household operationTransportationOther _. _
616.8
90.5
37.32.5
39.014.2
264.4
132.152.022.258.1
261.8
90.936.318.2
116.3
664. 9
103. 5
46.73.3
42.014.8
278. 1
136.456.923.561.3
283.3
99.239.519.9
124.8
660.4
101.9
45.43.3
41.415.0
277.2
135.956.723.061.6
281.3
98.139.119.8
124.3
670.7
106.1
48.83.6
41.915. 5
278.5
136.657.423.560.9
286.1
100.340.020.2
125.7
680. 5
106.1
47.93.5
43.514.7
283.4
137.958.524.362.8
290.9
102. 540.720.4
127.3
696. 1
111.0
49.93.9
46.514.7
288.3
140.359. 424.664.0
296.7
104.241.221.0
130.3
713.4
113. 9
51.34.1
46.815.7
297. 2
144.161.524.567.1
302.4
106.142.721.5
132.0
728.1
118.4
54.73.8
48.015.7
301.4
145.662.325.767.8
308.3
108.243.921.9
134.3
Table 12.—Foreign Transactions in the National Income andProduct Accounts (4.1)
Receipts from foreigners. _ _ _ _••_ ._
Exports of goods and servicesCapital grants received by the United
States. _ _
Payments to foreigners
Imports of goods and services.
Transfers to foreignersPersonalGovernment. __. ._
Net foreign investment
63.7
62.9
.9
63.7
59.3
3.21.02.2
1.2
66.9
66.1
.7
66. 9
65.4
3.61.02.6
—2.1
67.4
66.7
.7
67.4
66.6
3.4.9
2.5
—2.5
69.2
68.5
.7
69.2
68.2
3.81.12.7
—2.7
63.7
63.0
.7
63.7
65.1
4.01.12.9
—5.4
71.5
70.7
.7
71.5
75.3
3.81.02.8
—7.7
70.7
70.0
.7
70.7
75.2
3.81.12.8
-8.3
75.7
75.0
.7
75.7
78.4
4.01.12.9
-6.7
478-721 O - 7 2 - 2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
14 SUEVEY OF CURRENT BUSINESS October 1972
1970 1971
1971
II III IV
1972
I II in*
Seasonally adjusted at annual rates
Billions of dollars
1970 1971
1971
II III IV I
1972
II III *
Seasonally adjusted
Index numbers, 1958=100
Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2) TaWe 16.—Implicit Price Deflators for Gross National Product (8.1)
Federal Government receipts
Personal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax
accruals ._.Contributions for social insurance ...
Federal Government expenditures
Purchases of goods and services
Other.
Transfer payments.To personsTo foreigners (net) _
Grants-in-aid to State and local gov-ernments
Net interest paid
Subsidies less current surplus of gov-ernment enterprises
Less: Wage accruals less disburse-ments
Surplus or deficit (— ), national in-come and product accounts
Table 14. — State and Local G
State and local government receipts
Personal tax and nontax receipts ....Corporate profits tax accruals.Indirect business tax and nontax
accrualsContributions for social insurance. . .Federal grants-in-aid
State and local government expendi-tures _
Purchases of goods and servicesTransfer payments to personsNet interest paid _ _Less: Current surplus of government
enterprises _.Less: Wage accruals less disburse-
Surplus or deficit (— ), national in-come and product accounts
191.6
'92. 430.4
19.349.5
204.5
96.575.121.5
63.361.12.2
24.5
14.6
5.5
.0
-12.9
199.1
89.633.1
20.555.9
220.8
97.871.426.3
75.072.42.6
29.3
13.6
5.2
.0
-21.7
198.2
88.134.4
20.255.6
221.2
96.371.225.0
76.874.32.5
29.5
13.6
5.1
0.
-23.0
199.1
89.833.2
20.056.1
222.2
97.970.127.8
76.373.62.7
29.8
13.6
4.6
.0
-23.1
202.8
93.831.1
20.857.0
227.5
100.771.928.7
77.874.92.9
30.8
13.3
5,0
.1
-24.7
221.4
105.834.0
19.961.7
236.3
105.776.728.9
79.476.62.8
32.4
13.1
5.6
.0
-14.8
224.9
107.335.2
19.762.6
246.5
108.178.629.6
80.477.62.8
38.1
13.8
6.0
-.1
-21.6
overnment Receipts and Expendit(3.3, 3.4)
135.0
24.33.8
74.18.3
24.5
132.1
122.514.1-.5
4.0
.0
2.8
151.8
27.44.2
81.49.4
29.3
147.0
135.016.6-.1
4.3
.2
4.8
150.1
27.14.3
80.19.2
29.5
145.2
133.316.3-.1
4.3
.0
5.0
154.0
27.74.3
82.69.5
29.8
147.8
135.716.7-.1
4.3
.3
6.2
158.7
29. 24.1
84.89.8
30.8
152.7
140.217.2-.1
4.3
.4
6.0
164.8
30.64.7
86.810.232.4
157.7
143.717.8
.0
4.4
— . 6
7.1
174. 6
32.14.9
89.010.538.1
159.9
146.018.1
.0
4.4
— . 1
14.8
Table 15.— Sources and Uses of Gross Saving (5.1)
Gross private saving
Personal savingUndistributed corporate profits.- .Corporate inventory valuation ad-
justmentCorporate capital consumption
allowancesNoncorporate capital consumption
allowancesWage accruals less disbursements __
national income and productaccounts
FederalState and local
Capital grants received by the UnitedStates
Gross investment . _. .
Gross private domestic investment..Net foreign investment
Statistical discrepancy
152.2
54.915.4
-4.4
55.2
31.2.0
-10.1
-12.92.8
.9
138.3
137.11.2
-4.7
170.8
60.920.5
-4.7
60.3
33.5.4
-16.9
-21.74.8
.7
149.8
152.0-2.1
-4.8
172.8
64.120.4
-4.4
59.4
33.1.2
-18.0
-23.05.0
.7
150.5
153.0-2.5
-4.9
171.5
61.021.0
-5.8
61.2
33.8• 3
-16.9
-23.16.2
.7
149.5
152.2-2.7
-5.9
176.5
59.322.7
-3.9
63.0
34.4.9
-18.7
-24.76.0
.7
153.4
158.8-5.4
-5.2
171.6
55.723.5
-6.5
64.8
34.9-.8
-7.7
-14.87.1
.7
160.5
168.1-7.7
-4.1
174.9
50.125.3
-5.5
68.0
37.3-.3
-6.9
-21.614.8
.7
168.7
177.0-8.3
-.1
108. 9 Personal consumption expenditures _ _ _
Durable goods63-7 Services
243. 1 Gross private domestic investmentl™-% Fixed investment
31.0 "WrmrasirloTTHnl
82-4 Structures7£ * Producers' durable equipment. .
Residential structuresNonfarm
• Farm
• Change in business inventories
„ . Net exports of goods and services
ExportsImports
Government purchases of goods andservices .
FederalState and local
Uf^-ie
Table 17.— Implicit Price DeMajor Ty
31. 9 Gross national productFinal sales
91. 0 Goods outout10.734. 6 Durable goods
Nondurable goods . ...
164. 2 Services
150. 4 Structures18.3— . 1 Addendum:
4 4 Gross auto product
Table 18.— Implicit Price DeS
Gross national product
Private
BusinessNonfarm
51 3 Farm
Households and institutions-6.1
General government - -fi8 4
135.23
129.3
108.9127.7140.1
132.2
130.0
152.7120.1
140.0140.0134.9
120.5118.6
157.6
149.2165.0
141. 61
134.2
112.4131.7147.4
140.0
137.7
168.4124.7
146.3146.3140.9
125.8124.5
169.1
160.8175.7
141.34
134.0
113.2131.3146.7
139.8
137.5
166.3125.0
146.0146.1140.5
125.8123.8
169.2
161.3175.4
142.35
134.8
112.7132.3148.4
141.6
139.1
171.9125.4
147.8147.9142.7
125.9125.4
169.7
160.5177.1
142.88
135.2
111.3.133.2149.2
141.2
138.6
174.9124.5
147. 5147.6141.7
126.3126. 0
170.7
161.5178.0
144.68
136.2
112.6134.2150.1
144.2
141.3
179.3126.5
151.0151. 1145.6
127.4128.0
175.4
168. 2181.0
145.34
137.0
113.0135.0151.2
145. 8
142.6
182.7127.4
153.3153.4147.3
129. 1131.9
176.6
169.9181.9
146. 14
137.7
113.4136.0152.2
146.8
143.5
185.3128.3
155.0155.1148.8
130.1134.0
178.7
172.3183.5
flators for Gross National Product bype of Product (8.2)
135.23135.3
122.3
115.6127.1
150.1
149.7
108.1
141.61141.6
125.8
119.0130.7
159.4
159.9
112.5
141.34141.5
125.9
119.5130.5
158.6
159.2
115.2
142.35142.3
126.1
119.3131.1
160.4
162.0
112.1
142.88142.8
126.1
118. 4131.6
161.6
162.9
108.3
144.68144.7
127.2
119.5132. 9
163.8
167.1
112.1
145.34145.4
127.7
119.9133.6
165.0
168.8
112. 3
146. 14146.3
128.2
120. 3134.2
166.1
170.6
113.0
flators for Gross National Product byector(8.4)
135.23
130.31
129.0129. 4117.0
185.5
188.8
141.61
135.91
134.3134.9120.8
200.7
205.7
141.34
135.69
134.2134.8118.8
204.6
142.35
136.63
135.0135.6120.6
206.4
142.88
136.98
135.3135.6128.1
210.1
144.68
138.40
136.7136.8134.1
217.5
145.34
139. 00
137.2137.2137.2
220.7
146. 14
139. 69
137.9137. 5147.7
223.0
35.8 Table 19.— Gross National Product: Change from Preceding-1 Period (7.7)
Gross national product:Current dollars. _ .Constant dollars ... _
7 Implicit price deflatorChain price index
174. 2Gross private product:
181 0 Current dollars6 7 Constant dollars
Implicit price deflator _ .Chain price index
Percent
5.0-.55.55.3
4.3
4! 84.7
7.62.74.75.0
7.43.04.34.5
Percent at annual rate
7.93.44.44.6
8.23.74.34.4
5.42.52.93.4
5.42.52.83.4
8.36.71.52.1
* 8.37.21.01.4
12.06.55.15.6
11.67.14.24.4
11.49.41.82.7
12.110.21.72.3
8.35.92.22.9
8.26.02.02.7
» Preliminary.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUEEENT BUSINESS 15
Second Quarter Developmentsin Regional and State Income
Personal income rose from the first tosecond quarter of 1972 in all eightregions and in 37 of the States. Incomedeclined in six States and in the Dis-trict of Columbia and was little changedin seven others. The income gain in sixof the eight regions and in 35 of theStates was larger than the nationaladvance of about three-fourths of apercent in consumer prices. However,in 13 States and the District of Colum-bia, income rose less than consumerprices, and in two regions (RockyMountain and Mideast) and in twoStates, the advance was about in linewith that in prices.
Nationally, personal income rose 1%percent from first quarter to the second.Gains well above the national averagewere registered in the Great Lakes andPlains; the gain in New England was alittle above average. The advance was alittle below the national average in theSouthwest, Far West, and Southeast,and well below average in the Mideastand Rocky Mountain regions. Amongthe States, second quarter incomechanges ranged between an increase of7 percent in South Dakota and a declineof 2 percent in Mississippi.
Income effects of TropicalStorm Agnes
Changes in rent and nonfarm pro-prietors7 income were unusually impor-tant factors in some of the States in thesecond quarter as a result of the lossesincurred in the June floods in the North-east. The floods were caused by TropicalStorm Agnes late in the month. Theirmajor impact on income resulted fromlosses to owners of houses and to pro-prietors owning plant and equipmentand inventories. The write-offs of theselosses in the month of June are currentlyestimated by the Bureau of EconomicAnalysis at about $550 million, orabout $2% billion at an annual rate forthe quarter. The estimated amount oflosses cut $% billion from proprietors'income and $1% billion from rentalincome in the quarter when calculatedat annual rates.
These losses were all written off inJune and so are directly reflected in thepersonal income figures for the secondquarter. If it were not for disaster losses,personal income in the Nation wouldhave increased 2 percent rather than\% percent. Regionally, the effect of thefloods on personal income was heavily
Direct State Income Effects of Tropical Storm Agnes
United States
Mideast - „PennsylvaniaNew York _.Maryland
Southeast— . . ...VirginiaWest Virginia
Total personal income
1—1972 II— 1972
Flood lossesII— 1972
Totalpersonalincome
excludingflood losses
II— 1972
Billions of dollars, seasonally adjusted at annual rates
903.4
210.251.794.819.6
162.719.86.2
918.6
211.951.296.419.5
165.020.06.2
2.3
2.21.6.5
(*)
.1
.1(*)
920.8
214.152.896.919.5
165.020.16.2
Percent changeI— 1972-11—1972
With flood Withoutflood
Percent
1.7
.8-1.0
1.6-.7
1.41.2
-.2
1.9
1.82.22.2-.6
1.51.5-.1
concentrated in the Mideast, particu-larly in Pennsylvania, New York, andMaryland. The floods also had someimpact on income in the Southeast,mainly Virginia and West Virginia, butlosses were much smaller than in theMideast region.
Key role of three income components
Most differentials between area (re-gional and State) and national changesin total persona] income in the secondquarter are traceable primarily to de-velopments in three income compo-nents—manufacturing payrolls (mainlydurable goods payrolls), farm income,and rent. The key role played by thesethree components in explaining incomegrowth differentials in the second
CHART 7
Personal Income Advanced in All Regionsin the Second Quarter
® Regions with gains above the national averagePercent Change, I - II 1972
0
CHGreat Lakes
Plains
New England
® United States average
UNITED STATES
Regions with gains below the national average
* Less than $50 million.Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Far West
Southwest
Southeast
Mideast
Rocky Mountain
U.S. Department of Commerce, Bureau of Economic Analysis
NOTE.—The quarterly estimates of Statepersonal income were prepared in the Re-gional Economics Division by Steven E.Johnson under the supervision of Q. FrancisDallavalle.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
16 SUEVEY OF CURRENT BUSINESS October 1972
quarter is shown in table A. Com-parison of these aggregates reveals thecombined effect of the percent changein a component and its importance inan area's income structure. In manyregions and States, the area-Nationdifferential is cut by 40 percent or morewhen one of these components isomitted.
Strong increases in manufacturingpayrolls, especially durable goods pay-rolls, directly accounted for about half
the difference between the U.S. gainin personal income and that in theGreat Lakes region—the fastest grow-ing of the eight regions. Wage andsalary disbursements by durables manu-facturers in the Great Lakes region—largely reflecting the strong secondquarter growth of output of autos andprimary metals—rose by more than&}{ percent (compared with a nation-wide advance of 3% percent). Above-average income gains in this region
Table A.—Percent Change in Total Personal Income and Income Excluding SelectedComponents, I—1972-11—1972
Rank
123
456
78
123456789
1011121314151617181920212223242526272829303132333435
36373839404142434445464748495051
United States
Regions
Great Lakes _ -PlainsNew England .
Far WestSouthwestSoutheast -
MideastRocky Mountain
States
South Dakota ..-Nebraska. _ __ .OklahomaNew Mexico.KansasWisconsinNew HampshireFlorida. -Michigan .
HawaiiNevadaIndiana..WashingtonTennessee.IllinoisM assachusettsIowaOhio...Vermont... .GeorgiaNorth C arolinaMinnesota _ ._New JerseyMontana. _Arizona-DelawareNew YorkConnecticut.California-Virginia .MissouriIdaho..Arkansas _ _ _ _Kentucky ...Rhode Island
Oregon.ColoradoTexasMaine..UtahSouth CarolinaWyoming.. _West VirginiaLouisiana.. _ _ _ _ _ _ _ _ _AlabamaDist. of ColumbiaMarylandNorth Dakota _Pennsylvania _ _ _Alaska ...Mississippi. _ - _ - - _ _ • _ _ _ . _ _
Totalpersonalincome
1.7
2 92.42.0
1 51 41.4
87
7.34.64.43.73 73 73.73.50 q
2.92.92.92.82.82 82.52 42.22.22 12.12.12.12.01.91.61.61.61.31.21.21.11.01.01.0
.7
.6
.5
.5
.3
.3
.0—.2-.4-.6-.6-.7-.9
-1.0-1.2-2.1
Total personalincome, excl.
manufacturingwage and salary
1 3
1 82 221
1 31 41 4
58
7 54.54.73.83 32 83.53.42. 1
3.12.92.42.02.41 i2.51 91.82.12.42.42.32.32.52.0.0
1.51.51.2.9.7
1.0.8.9
2.3
.6
.5
.3
.4
.6
.3—.1-.1-.8-.4-.7-.9-.9
-1.8-1.5-2.7
Total personalincome, excl.farm income
1.8
2 92 21.9
1 41 71.9
721
.12.3.4
1.02 63.03.53.83.1
2. 62.42.93.03.03.42.43.02.21.62.61.91.42.1.0
1.91.11.51.51.11.02.61.51.7.8
1.0
1.43.62.0-.3
.11.91.6-.5-.11.1-.6
-1.0-.1
-1.1-1.2
1.3
Total personalincome, excl.
rent
1 8
2 92 52.0
1 51 41.5
1 47
7.74.84.63.83 83.83. 83.63.3
3.02.93.02,92.82.82.52.42.22.22.22.12.12.12.01.91.62.11.61.31.41.21.1.9
1.01.0
.7
.5
.5
.5
.3
.2-.1-.1-.5-.7-.7-.6
-1.0.6
-1.2-2.2
Total personalincome, excl.
manufacturing ,farm, and rent
1 6
1 92 01 9
I i172 0
1 22 4
32 0. l
1.02 01 83 33.71.9
2 82.52.32.32.71.92.42.61.81.33.02.11.62.4.2
2.0-.82.01.4.9
1.02.51.51.8.6
2.3
1.54. 02.0-.6
.42.51.7.4.5
1.9-.7
-1.1.2.1
1.61.5
NOTE.—Percentages are based on seasonally adjusted unrounded data.
were also registered in a wide varietyof other industries. In particular, in-come growth was strong in the con-struction, the transportation—com-munications—public utilities group,and the service industries.
In the Plains and New England—theother two regions where the totalincome gain was above the nationalaverage—farm income accounted forhalf of the differential between the areaincome growth and the average forthe U.S. as a whole. In New Englandthe strong growth in farm income wasaccompanied by a sharp jump inFederal payrolls. In the Plains, incomegrowth also reflected a sharp increasein nonfarm proprietors' income and anabove-average gain in manufacturingpayrolls.
At the other end of the scale, personalincome was up only moderately in theMideast and the Rocky Mountainregions. Again, farming and manufac-turing played key roles. In both regionsthe change in manufacturing payrollswas well under the nationwide advance,reflecting weakness in both durable andnondurable goods payrolls. In addition,there was a sharp decline in farm incomein the Rocky Mountain region, whichaccounted for more than half of thedifference between the area and the U.S.gain. Mining and construction wage andsalary payments were also off in theregion and there was little change inthe transportation-—communications—public utilities group. In the Mideast,manufacturing payrolls were weak,construction payrolls declined moder-ately, and rent was off sharply becauseof the floods.
State income
In 24 States the income changediffered substantially from that in theNation (See table A). Nine of theseregistered gains in the second quarterthat ranged between T}{ and 3K percent.In descending order, these were: SouthDakota, Nebraska, Oklahoma, NewMexico, Kansas, Wisconsin, NewHampshire, Florida, and Michigan. Inall except Florida there were very largegains in farm income which, in most
(Continued on page 23)
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUEVEY OF CURRENT BUSINESS 17
Table B,—Total Personal Income, by States and Regions
[Millions of dollars, seasonally adjusted at annual rates]
State and region
United States
New England
Maine . ...New Hampshire .VermontMassachusettsRhode Island ....C onnecticut
Mideast
New YorkNew Jersey. _Pennsylvania _...._.DelawareMaryland .District of Columbia. _..
.if eat Lakes
Michigan . _.Ohio .IndianaIllinois .Wisconsin. • _ . _ _ _
Plains . . .
MinnesotaIowa. .Missouri.. . . . - . -North Dakota , ...South DakotaNebraskaKansas .
Southeast
Virginia.. _ _ _ _ _ _ _West Virginia. .... _- .KentuckyTennessee . _North Carolina _South Carolina.GeorgiaFlorida . .AlabamaMississippi.. ._. _ • _LouisianaArkansas
Southwest ... __
OklahomaTexas.-..-. _ ... .New Mexico _ _ _ ' _ . _ _ ....Arizona
Rocky Mountain.... _
Montana. .Idaho. -.-. . .WyomingColoradoUtah.. _
Far West
WashingtonOregon .NevadaCalifornia -
Alaska. _Hawaii _ _
Addenda:
New England-Middle Atlantic _East North CentralWest North Central .South Atlantic. __East South Central-West South Central. . _MountainPacific
1969
I
722,225
45,608
2,9062,3961,370
22, 1703,344
13, 422
170,403
78, 62129, 17042,0512,213
14, 7273, 621
153,235
34, 76839, 14818,49945, 99514, 825
55,024
13,1109,593
15, 7761,7561,9545,0817,754
125,047
14, 8844, 6208, 982
10, 95014, 4866,698
13,79321, 5148,8465,299
10, 0414,934
50,980
7,37635,2802,8185,506
15,709
2, 1282,0981,0817,3903,012
102, 158
12,7537,0031, 924
80, 478
1,1732,888
II
738, 942
46,652
2, 9642,4501,408
22, 7003,448
13, 682
174,377
80,22730, 06742, 9102, 200
15,2753,698
156,329
35,27840,02018, 94046, 88215, 209
55,865
13, 2499, 874
15, 8321,9201,9365,1947, 860
127,846
15,3424, 7519, 111
11, 08714, 9086,890
14, 18622, 1179,0805,146
10, 3314,897
52, 792
7,75536, 5012,8645,672
16,073
2,1102,1221, 1047,6413,096
104,812
12, 9267,2252, 020
82, 641
1,2352,961
III
754,911
47,607
3,0092,5001,448
23, 2403, 468
13, 942
177,891
81, 69430, 76343, 7072,307
15, 6703, 750
159,240
36, 08440,82519,26847, 57815, 485
57,545
13, 6589,841
16,3721,8181,9905,3448, 522
131, 197
15, 5924,8149, 353
11, 37015, 4097,152
14, 51822, 9649, 2505,232
10, 4675,076
54, 064
8,15637, 1222, 9765,810
16,383
2, 2912,1631, 1207,6663,143
106, 615
13,3367, 4542,085
83,740
1,2643,105
IV
769,712
48,476
3,0662,5541,479
23, 5953,553
14, 229
181,702
83, 14631, 69244,5352,362
16, 0773,890
162,588
36, 99741,70219, 73248,47815,679
58,976
14,01910, 32016, 5781,9722,1015,5698, 417
133,468
16,0284,9349,409
,-11,51915,3417,199
14, 89323, 5719,4765,372
10,6185,108
54,878
8, 02237, 8102, 9746,072
16, 627
2,2712, 2071, 1427,7933,214
108,446
13, 4587,4212, 158
85, 409
1,3273,224
1970
I
781, 120
49,250
3,1422,6291,501
24, 0683,611
14, 299
184,059
84, 26031,66745, 5412,330
16,2823, 979
162,460
36,02141, 74619,37349, 25716, 063
60,344
14, 41810, 71417, 1561,8672, 1045,5468, 539
136,525
16, 4285,1069, 574
11, 74315,9787,434
15, 05024, 0359, 7575,505
10,7635, 152
56,345
8,09738, 9023,0696,277
17,572
2,3342,2921,2308,3763,340
109,875
13, 3187, 6612,196
86, 700
1, 3743,316
II
801,080
50,479
3,2402,6861,535
24, 6813,711
14, 626
189,058
86,25432, 72246, 5072,402
16, 9764, 197
164,919
37, 20042, 33019,69249, 30216, 395
61,333
14, 73610, 74417, 3451, 8722,2165, 6668,754
140,729
16,9675, 2329,888
12, 02216, 3327,592
15,40825, 0359, 9315,738
11,0695,515
58, 953
8,60640,7023,1966, 449
17,745
2,4192, 3081,2108,3973, 411
112,944
13,6517,7872,244
89, 262
1,4383,482
III
808,635
51,076
3,2312,7001,553
25, 0593,767
14, 766
191,462
87, 35033,49647, 0872,391
17, 0084, 130
167, 105
37, 27042, 96219, 91850, 34516,610
61,503
14, 82210,47917, 5351,8872,0925,6988,990
142,296
17,1785,322
10, 19212, 13416,5647,648
15, 27925, 3199, 9375,834
11, 2315,658
58,961
8,76340, 4243, 2336,541
18,116
2, 4132,3621,2168, 6673,458
113,225
13,7137,9162,223
89, 373
1,3773,514
IV
815, 137
51,464
3,2902, 7301,576
25, 1923,814
14, 862
192,569
87,70033,83547, 1822,453
17, 2404, 159
167,215
36, 64842, 96519, 90350, 93916, 760
61,758
14, 95410, 51617, 6721,9622,0185,6888,948
145,236
17, 3715,526
10,30412, 46516,6627, 782
15,99925, 91810,0775,942
11, 4505,740
59,555
8,81540,823
3,2376,680
18,301
2,4352,3981,2538,6533,562
114,055
13, 7247,9002,313
90, 118
1,4063,578
1971
I
833,668
52,168
3,3262,7651,608
25, 6163, 839
15, 014
197,063
89, 70834,35648, 1592,544
17, 9104,386
171,216
38,65743, 48720, 44751, 79416, 831
63,559
15, 11410, 78418, 2742,1592,2345,8459,149
148,482
17,7825,650
10, 55212, 72917, 1037,995
16, 19126,29810, 4386,232
11, 7295,783
60,813
8,79441, 7623,3446,913
19,079
2,5172,4121, 3329,1433,675
116, 053
13, 8958,2022,364
91, 592
1,5433,692
II
853,767
53,293
3,3842,8461,639
26, 2023,922
15,300
200,770
91,83434, 93049, 123
2, 58817, 8924,403
176,311
39, 76144, 87421, 07153,18117,424
65,067
15,53211, 27818,5152,3242,3116,0459,062
152,293
18,3165,829
10,71213, 20017, 4928, 237
16, 68427, 34110,6196,075
11, 8925,896
62,350
9,20742, 542
3, 4347,167
19, 492
2,5602,4961,3049, 4083,724
118,963
14, 2078,3972, 454
93, 905
1,5183, 710
III
863,697
54,152
3,4412,9281,666
26, 6284,010
15, 479
203,427
92, 55335,89449,7122, 604
18, 2084,456
177,164
39, 88045,00221,13053, 47217,680
65,849
15, 78011, 09418, 5722,1182,3926,1839,710
155,315
18,6635,905
10,94913,22517,9448,392
16,95427, 82810, 9256,310
12, 1106,110
62, 715
9,19142, 6313,5057,388
19,741
2,5692, 5401,3329,5343,766
120, 176
14, 3468,5662,486
94, 778
1,4963,662
IV
877,210
54,413
3,5152,9691,688
26, 6924,055
15,494
204,275
92, 87235, 40250,402
2, 70518,4654,429
182,105
41,10345, 97021, 83355, 15118, 048
66,809
15, 83211, 19918,9892,2862, 3476,2369,920
158,264
18,8415,773
11,11013,57918, 1048,471
17,31428, 97611,0786,474
12,3126,232
63,947
9,36643, 3933,5087, 680
20,260
2,6542,5981,3589,7433,907
121,881
14,4368, 7162,535
96, 194
1, 5443, 712
1972
I
903,443
55,831
3,6082,9821,729
27, 3024,135
16, 075
210,219
94,82236, 66551, 7082, 679
19, 6024, 743
185,102
41, 85246, 79822, 14956, 00418,299
68,614
16, 27112, 13619,3242, 3712,4376, 1739, 902
162,664
19, 7676, 210
11, 49814, 09618, 6448,948
17,46328, 61411, 4776, 810
12, 8946, 243
67,453
9,73446, 0183, 7597,942
21,356
2,7282, 6361,484
10,3954,113
126,590
14, 7759,1722, 636
100, 007
1, 6643,950
II
918,570
56,963
3,6263,0921, 766
27, 9714,178
16,330
211,876
96,35437,42051, 2112, 722
19,4574,712
190,383
43, 22447, 82222, 79957, 56518,973
70,271
16,60812,42519, 5512,3502,6166,457
10, 264
164,972
19,9996,198
11, 61614,48419, 0348,972
17, 83829, 61911, 4046,668
12,8376,303
68,420
10, 16146, 2703,8988,091
21, 510
2,7832,6641,484
10, 4544,125
128,466
15, 1929,2352, 713
101, 326
1,6444, 065
Personal Income, by Census Regions
45, 608149, 842153, 23555, 02496, 55634, 07757, 63125, 957
104, 295
46, 652153, 204156, 32955, 86599, 36734, 42459, 48426, 629
106, 988
47, 607156, 164159, 24057, 545
102,17635, 20560, 82127, 254
108, 899
48, 476159, 373162, 58858, 976
104, 29535, 77661,55827, 831
110, 839
49, 250161, 468162, 46060, 344
106, 62236, 57962, 91429, 114
112,369
50, 479165, 483164, 91961, 333
110, 14137, 57965, 89229, 634
115, 620
51,076167,933167, 10561, 503
110, 83938, 09766, 07630, 113
115, 893
51, 464168, 717167, 21561, 758
113, 11038, 78866, 82830, 531
116, 726
52, 168172, 223171, 21663,559
115, 85939, 95168,06831, 700
118, 924
53, 293175, 887176, 31165,067
118, 78240,60669, 53732,547
121, 737
54, 152178, 159177,16465, 849
120,95441,40970, 04233, 120
122, 848
54, 413178, 676182, 10566, 809
123, 07842,24171, 30333, 983
124, 602
55, 831183, 195185, 10268,614
126, 67043,88174,88935, 693
129, 568
56, 963184, 985190, 38370, 271
128, 55144, 17275, 57136,212
131, 462
NOTE.—Quarterly totals for the State personal income series will not agree with the personalincome measure carried in the national income and product accounts since the latter includesincome disbursed to Government personnel stationed abroad. 1969-71 estimates have beenrevised. Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
By RUSSELL SCHOLL
The International Investment Position of the United States:Developments in 1971
JL HE recorded net international in-vestment position of the United Statesdeteriorated $11.3 billion in 1971. Assuggested by the large errors and omis-sions item in the U.S. balance ofpayments, much of the recorded deteri-oration was due to the fact that inter-national assets acquired by U.S. privateresidents were substantially underre-ported. Consequently, total interna-tional assets of the United Statesincreased only $13.8 billion, but U.S.liabilities to foreigners rose $25.1 billion,concentrated in an increase of U.S.liquid liabilities to foreign official re-serve agencies. By yearend 1971, totalassets still exceeded total liabilities by$57.9 billion, but the liquidity structureof the U.S. investment position hadworsened measurably.
This article reviews the factors ac-counting for recent changes in the netinternational investment position (table1). It discusses changes in the composi-tion of U.S. international assets andliabilities, particularly changes betweenliquid and nonliquid categories (chart8). Finalty, the pattern of change in theliquidity structure of the investmentposition is examined, with specialemphasis on its relationship to thebalance of payments and the suspensionof dollar convertibility in August 1971.
Changes in the net internationalposition
Changes in the net internationalinvestment position of the UnitedStates reflect three major factors (table1). The first is net recorded balance ofpayments capital flows, which must beequal, in an accounting sense, to the
NOTE.—Significant data contributions weremade by Julius Freidlin, Nancy R. Keith,and E. Seymour Kerber.
18
sum of the current account (the balanceof goods and services and unilateraltransfers), allocations of SDR, and anadjustment for errors and omissions.This adjustment for unrecorded trans-actions accounts for the differencebetween measured changes in our in-vestment position from recorded netcapital flows and the recorded balanceon current account plus allocations ofSDE. If unrecorded flows could beidentified, part presumably would gointo recorded capital flows, and partinto the recorded current account. Thecurrent account plus allocations of SDRwould then equal net capital flows. Asurplus on the current account, afteradjustment for errors and omissions,and allocations of SDR tend to improvethe net investment position.
The second factor influencing changesin the net investment position is rein-vested earnings of U.S. affiliates abroadminus reinvested earnings of foreign-owned affiliates in the United States.Earnings of U.S. affiliates abroad notrepatriated or credited to the UnitedStates as income (and thus not includedin the current account) improve ourinvestment position by raising thevalue of U.S. direct investment over-seas. The third factor is the net changein valuation of outstanding U.S. in-vestment abroad and foreign invest-ments in the United States (includingadjustments for changes in coverage andstatistical discrepancies); these adjust-ments are also not reflected in thebalance of payments accounts. Netchanges in valuation include adjust-ments for price changes in the value ofoutstanding U.S. and foreign securities.Also, outstanding assets and liabilitiesdenominated in foreign currencies areadjusted to reflect altered foreign ex-change values vis-a-vis the dollar.
Furthermore, book values of assets andliabilities are adjusted for direct invest-ment write-offs of assets expropriatedor gains or losses from liquidations.Periodically, it is necessary to adjust forchanges in coverage and for new bench-mark surveys of assets and liabilities.
While the change in the net invest-ment position, in an accounting sense,is equal to the sum of the three factors
CHART 8
International Assets and Liabilitiesof the United States
Nonliquid, —U.S. Government
Nonliquid,Private
Liquid, Private2
Liquid,U.S. Government *
I960 1970 1971
1. Liquid liabilities include nonliquid liabilities to foreign officalagencies as in table 3, line 36.
2. Assets not separately available in 1960. included with privatenonliquid assets.
Note.-Refer to table 3 for data.
U.S. Department of Commerce, Bureau of Economic Analysis 7
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUEVEY OF CUERENT BUSINESS 19
previously mentioned, it should not beassumed that capital flows necessarilyresult in a change in the net investmentposition. It is clear that if there is acapital outflow from the United Statesand a corresponding increase in assetsbut the current account (or the errorsand omissions) is not affected—i.e. theoutflow does not lead, for instance, to anincrease in U.S. exports—then the out-flow will lead to a corresponding, increasein liabilities or decrease in other assets.In this case there will be no change inthe net investment position. We essen-tially improve our net investment posi-tion by transferring abroad real goodsand services or by reinvesting abroad,and the position is also affected byvaluation changes. Only if an outflow ofcapital in a given year affects the cur-rent account in the same year will theoutflow, per se, affect that year's changein the net investment position, as forinstance, when an increase in exportcredits leads to an increase in exports.In the longer run, the effect of capitalflows on the current account (and thuson the net investment position) is likelyto be much more important.
The recorded change in the net inter-national investment position of theUnited States in 1971 was a sharpdeterioration of $11.3 billion. The bal-ance on current account, in deficit by$2.8 billion in 1971, had an adverseimpact on our investment position. Inthe late fifties and early sixties, therehad been a current account surplus butit subsequently diminished and shiftedto small deficits in 1968 and 1969, ad-versely affecting the net investment
position. (In 1970, the current accountwas temporarily in surplus, due tofavorable cyclical conditions vis-a-visother countries.) Net reinvested earn-ings of $2.6 billion had a favorableimpact of comparable magnitude on thenet investment position, and the effectsof SDE allocations and net valuationadjustments were also offsetting.
Thus, the 1971 decline in the netinvestment position was about the sameas the errors and omissions item, whichtotaled $10.9 billion. The size of theseoutflows mirrored the intensity andscope of the movement out of dollars in1971 stemming from growing expecta-tions that other major currencieswould appreciate vis-a-vis the dollar.Part of the unrecorded outflowsprobably went to the Eurodollarmarket, attracted by high interest ratesresulting from an increased demand forborrowed dollars. Other portions wereutilized to acquire other assets over-seas. If these acquired assets had beenrecorded, the increase in U.S. claimswould have been larger and the de-terioration in our net investment posi-tion would have been much less.
An evaluation of the external positionof the United States also must take intoaccount changes in the composition ofU.S. assets and liabilities. Even whenour net investment position improves,there could be a worsening of itsliquidity structure if U.S. nonliquidcapital outflows are accompanied by adecline in monetary reserves or anincrease in liquid liabilities to foreigners,especially to foreign official agencies.
Changes in U.S. assets and liabilities
Total recorded U.S. assets abroadrose $13.8 billion in 1971, resulting fromcapital outflows of $9.3 billion and $4.5billion in exchange rate, price and otheradjustments. A $14.5 billion rise in U.S.nonliquid assets reflected a continuedstrong preference for longer term for-eign investments by private U.S. resi-dents. (See chart 8.) U.S. directinvestment abroad, increasing $7.8 bil-lion, accounted for half the incrementin nonliquid assets. Of this amount,capital outflows totaled $4.8 billion,$0.4 billion above the 1970 figure, andreinvested earnings were $3.1 billion, a$0.2 billion rise. There was a $2 billionrise in U.S. holdings of foreign secu-rities, about half of which was ac-counted for by capital outflows andhalf by valuation adjustments. Non-liquid bank reported assets increased$1.9 billion and were another importantelement in the increase in nonliquidassets. Government controls such asthe Foreign Direct Investment Pro-gram, the Interest Equalization Taxand the Voluntary Credit RestraintProgram applied to many of these non-liquid assets; increases were mainlywithin expressed guidelines or in ex-empt categories.
Eecorded liquid assets, on the otherhand, fell $0.7 billion. Nearly all of the$2.3 billion decline in our monetaryreserve assets occurred before theAugust 15 suspension of convertibilityof the dollar into gold or other reserveassets. Liquid claims on foreignersreported by banks and nonbanks rose
Table 1.—Factors Accounting for Changes in the Net International Investment Position of the United States
[Millions of dollars]
Item
Balance on current account (surplus (+))
Allocations of SDR . .
Adjustment for: Errors and omissions (receipts (~i~))
Equals: Net recorded balance of payments capital flows (outflow (+)). -.
Plus i Net reinvested earnings (increase (4~))
Plus: Net valuation and other adjustmentsOf which* Changes in coverage and statistical discrepancies
Equals: Change in net international investment position of the United States
Addendum: Net international investment position of the United States at end of period 2
Average
1961-65
3,775
-848
2,927
1, 072
-618431
3,381
1966-70
634
173
-1,045
-238
1,786
-3996
1,510
1966
2,280
-302
1,977
1,400
198256
3,575
65, 212
1967
2,055
-881
1,173
1,158
-2, 068248
263
65,475
1968
-484
-399
-881
1,687
-660224
146
65, 620
1969
-1,035
-2,470
-3,506
2, 173
3,061-287
1,728
67, 349
1970
356
867
-1, 174
47
2,514
-72637
1,836
69, 185
1971 v
-2,847
717
-10,927
-13,055
2,618
-8974
-11,335
57,851
» Preliminary. 1. Revised.NOTE.—Details may not add to totals because of rounding.
2. The net position at the end of a given period is equal to the position at the end of thepreceding period plus the total net change during the period.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
20 SUKVEY OF CURRENT BUSINESS October 1972
Table 2.—Changes in the International Investment Position of the United States Reconciled with Balance of Payments Capital Flows[Millions of dollars]
Linesin
table3
1
2
3
4
5,6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Net international investment position and U.S. assets abroad
Item (increase (+))
Net international investment position of the United States
Balance of payments capital flowsOther than capital flows
U S assets abroad
Capital flowsOther than capital flows
Nonliquid assets - - - -
Capital flowsOther than capital flows
U S Government
Long-term creditsCapital flowsExchange rate adjustmentsStatistical discrepancies
Foreign currencies and other short-term assetsCapital flowsExchange rate adjustmentsChanges in coverage and statistical discrepancies
Private long-term
Direct investments abroadCapital flows _Reinvested earningsValuation adjustments
Foreign bondsCapital flowsPrice changes.-Exchange rate adjustments
Foreign corporate stocks. _.Capitalflows . . _Price changes . ..-.Exchange rate adjustments
Other claims, reported by U.S. banks.Capital flowsStatistical discrepancies
Other claims, reported by U.S. nonbanking concernsCapitalflows
Private, short-term nonliquid
Claims reported by U.S. banksCapital flowsChanges in coverage
Claims reported by U S nonbanking concernsCapital flowsStatistical discrepancies
Liquid assets
Capitalflows- . -------Other than capital flows
Private
Claims reported by U.S. banksCapitalflowsChanges in coverage
Claims reported by U S nonbankinc concernsCapital flowsStatistical discrepancies .
UiS. monetary reserve assets
Gold. .
SDR...
Convertible currenciesCapital flowsExchange rate adjustments
Gold tranche position in IMF . .
1970 r
1,836
471,788
8,591
5,9932,597
11,320
8,7222, 597
1, 435
1,4821,568-86
(*)
-4716
-32-32
8,501
7,1444,4002,948-204
1,44287451652
-51669
-759174
-155-175
20
586586
1,384
1,0231,023
361361
-2,729
-2, 729
-252
9999
-351-351
-2,477
-787
851
-2, 152-2, 152
-389
1971*
-11,335
-13,0551, 721
13,775
9,3264,450
14,480
10, 6023,879
2,028
2,0892,074
133
-61-182
123-2
10, 594
7,8234,7653,116-58
1,445889548
8
63220
306306
58556520
109109
1,858
1, 3021,807-505
556555
1
-705
-1, 276571
1,615
1,110566544
505506-1
-2, 320
-866
249
-353-381
28
-1,350
Linesin
table3
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
U.S. liabilities to foreigners
Item (increase (+))
U.S. liabilities to foreigners. ....._ ..... .
CapitalflowsOther than capital flows.. • _ • .
Nonliquid liabilities to other than foreign official agencies
Capitalflows . ..Other than capital flows . . . .
U.S. Government _Capitalflows.Valuation adjustments .....
Private, long-term .
Direct investments in the United States . ...CapitalflowsReinvested earnings _. ._ — ...Valuation adjustments
Corporate and other bonds . . .Capitalflows. .. ....Price changes _
Corporate stocks ._Capitalflows . .Price changes
Other liabilities, reported by U.S. banksCapital flows...*.. .... ... . . ^. . .
Other liabilities, reported by U.S. nonbanking concerns.Capital flows
Private, short-term nonliquid, reported by U.S. nonbank-ing concerns.
Capitalflows
Liquid liabilities to private foreigners and liquid and non-liquid liabilities to foreign official agencies. ... . . . ....
Capitalflows ....„ ......Other than Capitalflows
To private foreigners - . _ . . . .
To foreign commercial banks..^ ..Capitalflows....--.- — ..^.... ......... ...Changes in coverage and statistical discrepancies
To international and regional organizationsCapital flows . . .Statistical discrepancies.
To other foreignersCapitalflows ^ .._--..Statistical discrepancies . . ..
To foreign official agencies
Nonliquid -
Reported by U.S. Government.Capitalflows ..'.Valuation adjustments . _
Reported by U.S. banks . . .......Capitalflows
LiquidCapitalflows - -.--Changes in coverage and statistical discrepancies _•_
1970'
6,755
5, 946809
5,682
4,824858
-433-433
5, 213
1,4521, 030
434..-12
2,0781,493
585
548697
-149
2323
1, 1121,112
902
902
1,073
1,122-49
-6,278
-6,47&-6, 508
32
183181
2
1587
-72
7,351
-275
535535
-810-810
7,6267, 637-11
197lJ>
25,110
22,3812, 729
4,258
1,6552, 603
-482-486
4
4, 798
434-67498
3
1,7481,433
315
2, 632849
1,783
-249-249
233233
-58
-58
20,852
20,726126
-6,005
-6,219-6, 908
689
677682-5
-463-465
2
26,857
-128
411341
70
-539-539
26, 98527,615-630
'Revised. > Preliminary. (*) Less than $500,000(±).
NOTE.—Details may not add to totals because of rounding.
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS 21
Table 3.—International Investment Position of the United States at YearendJ[Millions of dollars]
Line
1
2
3
4
567
89
101112
13
141516
17
181920
2122232425
26
27
282930
313233
34
35
36
373839
404142434445
Type of investment
Net international investment position ofthe United States .. .
U.S. assets abroad
Nonliquid assets
U.S. GovernmentLong-term credits:
Repayable in dollars *•-Other 2
Foreign currencies and othershort-term assets
Private, long term.Direct investments abroadForeign securities:
Foreign bonds. _Foreign corporate stocks _
Other claims, reported by U.S.banks
Other claims, reported by U.S.nonbanking concerns *
Private, short-term nonliquidClaims reported by U.S. banks. . .Claims reported by U.S. non-
banking concerns
Liquid assets „ .
PrivateClaims reported by U.S. banks...Claims reported by U.S. non-
banking concernsU.S. monetary reserve assetsGold :
SDR_Convertible currencies _Gold tranche position in IM F
U.S. liabilities to foreigners 7_... r
Nonliquid liabilities to other thanforeign official agencies.. -
U.S. Government 8
Private, long-term ._Direct investments in the United
StatesU.S. securities:
Corporate and other bondsCorporate stocks
Otherdiabilities, reported by U.S.banks. _
Other liabilities, reported by U.S.nonbanking concerns 4
Private, short-term nonliquid, re-ported by U.S. nonbanking con-cerns
Liquid liabilities to private foreignersand liquid and nonliquid liabilitiesto foreign omcial agencies
To private foreigners - - , . .To foreign commercial banks «_ _ _To international and regional or-ganizations .To other foreigners
To foreign omcial agenciesNonliquid
Report by U.S. Government 8 _ _Reported by U.S. banks-
Liquid. _
Total
1960
44,730
85,589
66,230
16, 920
{14,028
2,89244, 49731,865
5,5743,984
1,698
1,376« 4, 8135 3, 594
B 1, 219
19,359
(5)(5)
(5)19, 35917,804
1,555
40,859
19, 830
79318, 418
6,910
6499,302
7
1, 550
619
21, 029
9,1394,818
1,5412,780
11, 89022
11,888
1965
'61,636
'120,434
'103,216
23,396
f 14,966I 5,234
3, 196'71,435
49, 474
10, 1655, 048
'4,377
2,3718,3856,846
1,539
17,218
1,768889
87915, 45013,806
781863
58,798
29,224
1,94426, 315
8,797
91614, 599
393
1,610
965
29, 574
12, 9097,419
1,4314,059
16,665459339120
16,206
1970'
69, 185
166,850
149, 951
32, 166
23, 5186,185
2,463104,95978, 177
13, 1606,437
3,035
4,15012, 8269,592
3,234
16,899
2,4121,210
1,20214, 48711, 072
851629
1,935
97,665
50,659
2,00544, 785
13, 270
6,87818,689
1,008
4, 940
3,869
47, 006
22, 61917, 169
8464, 604
24, 3873,7643,069
69520, 623
1971*
57,851
180,626
164, 432
34, 194
25,6146,178
2,402115, 55486, 001
14, 6047,069
3,620
4,25914, 68410,894
3,790
16, 194
4,0272,320
1,70712, 16710,2061,100
276585
122,775
54,917
1,52349, 583
13, 704
8,62621,321
759
5,173
3,811
67,858
16, 61410, 950
1,5234,141
51, 2443,6363,480
15647,608
Western Europe
1970'
-19,056
41,459
40, 051
7,993
6,827951
21529,63424,516
5352,563
471
1,5492,4241,094
1,330
1, 408
780310
6470628
628
60,515
36,304
1,80631, 745
9,554
5,21412, 756
9178
4,043
2,753
24, 211
10, 5509,076
171,457
13, 661645645
(9)13, 016
1971 f
-29,034
45,630
43, 944
7,850
6,798872
18033, 20227, 621
5082,832
706
1,5352,8921,345
1,547
1,686
1,411716
6695275
275
74,664
39, 920
1, 38535, 994
10, 077
6,82514,681
8256
4,155
2,541
34, 744
4,5733,375
81,190
30, 171705705
0029, 466
Canada
1970'
23,807
37,106
36,094
24
19
535, 22122,790
7,8733,180
272
1,106849483
366
1,012
1,012560
452(*)
(*)
13,299
6,776
526,467
3,117
2372,912
83
198
257
6,523
3,5723,078
4942,9512,2892,289
CO662
1971 v
26,423
39,882
38, 346
49
47
237,34224,030
8,7213,262
208
1,121955578
377
1,536
1,536951
585(*)
(*)
13,459
7,197
176,943
3,339
2853,112
8 4
203
237
6,262
2,2821,898
3843, 9802,6402,640
(9)1,340
Japan
1970'
1,177
7,226
7,057
672
54798
272,3391,483
265337
115
1394,0463, 782
264
169
168108
601
1
6,049
843
32666
229
220
8385
30
145
5,206
n.s.s.n.s.s.
n.s.s.n.s.s.n.s.s.
(9)n.s.s.
1971"
-7,799
8,365
8,048
606
48295
293,0501,818
269578
246
1394,3924,059
333
317
316237
791
1
16, 164
152
28-54
-174
870
83
39
178
16,012
n.s.s.n.s.s.
n.s.s.n.s.s.n.s.s.
(9)n.s.s.
Latin Americancountries andother westernhemisphere
1970'
19,685
28,710
28,420
6,320
5,596689
3518,23414, 760
1,059141
1,326
9483,8663,113
753
290
290128
e 162
9,025
3,911
223,520
248
1742,244
8415
439
369
5,114
3,5411,210
1542,1771,573
(9)1,573
1971 *
21,471
30,770
30, 194
6,660
5,943675
4219, 46915, 763
1,116172
1,440
9784,0653,219
846
576
576285
6291
9,299
4, 256
153,770
315
2002,561
8168
526
471
5,043
3,6641,265
3282,0711,379
(9)1,379
Other foreigncountries
1970'
26,096
31,899
31,737
15, 804
9,1814, 447
2,17614, 29211, 042
1,775216
851
4081,6411,120
521
162
162104
«58
5,803
1,,689
951, 249
121
90576
»232
230
345
4,114
n.s.s.n.s.s.
n.s.s.n.s.s.n.s.s.
135135
'(*)n.s.s.
1971 »
30,633
36,373
36, 185
17, 610
10, 9314, 535
2,14416, 19512,450
2,014225
1,020
4862,3801,693
687
188
188131
657
5,740
1,696
771,235
146
62644
8133
250
384
4,044
n.s.s.n.s.s.
n.s.s.n.s.s.n.s.s.
135135
(9)n.s.s.
Internationalorganiza-tions and
unallocatedt
1970'
17,475
20,450
6,592
1,353
1,348
55,239
3 3, 586
1,653
(*)(*)
13, 858
13, 85811, 072
851
1,935
2,975
1,832
1,832
1,161181
8490
1,143
577
577
566
(9)566
1971 '
16,159
19,606
7,715
1,419
1,414
56,296
3 4, 319
1, 977
(*)(*)
11,891
11, 89110,2061,100
585
3,447
1,850
1,850
1, 246253
9351
1,597
1,053
1,053
544
(9)544
' Revised. * Preliminary. *Less than $500,000 (±). ^Includes U.S. gold stock.N.s.s. Not shown separately.
1. Also includes paid-in capital subscription to international financial institutions (otherthan IMF) and outstanding amounts of miscellaneous claims which have been settled throughinternational agreements to be payable to the U.S. Government over periods in excess of 1year. Excludes World War I debts that are not being serviced.
2. Includes indebtedness which the borrower may contractually, or at its option, repaywith its currency, with a third country's currency, or by delivery of materials or transfer ofservices.
3. For the most part represents the estimated investment in shipping companies registeredprimarily in Panama and Liberia.
4. The long-term position data given here include estimates for real estate, insurance, estates,and trusts.
5. Liquid claims are not available separately and are included with nonliquid claims.6. Beginning in 1970 country detail for Western Europe includes the European Economic
Community, United Kingdom, and Switzerland only, and for Latin America and O.W.H.includes only Bahamas and Bermuda. Remaining countries are not separately identified due
to insignificant amounts and are included in other foreign countries.7. The regional breakdown for liability lines may not add to the world total since certain
items cannot be shown separately and because of the assumptions made regarding lines 33and 44 (see footnote 9).
8. U.S. Government liabilities are broken down into those to foreign official reserve agenciesin line 43 and those to others in line 28, including foreign official agencies other than reserveagencies. U.S. Government notes held by the Canadian Government in connection with the1964 Columbia River power rights arrangements are included in the entries for foreign official
9. In the regional breakdown, nonliquid liabilities to foreign official agencies reported byU.S. banks are included with private long-term liabilities reported by 1.8. banks, and, forsummation purposes in the regional presentation, line 44 is assumed to be zero and anyentries that would appear there are considered part of line 33.
10. As reported by U.S. banks; ultimate ownership is not identified.NOTE.—Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
22
only $1.6 billion, partly offsetting thedecline in reserve assets. The increasein claims, particularly liquid claims, isprobably substantially understated asa result of the large unrecordedoutflows.
CHART 9
Liquidity Ratios: Outstanding U.S. AssetsAbroad to Liabilities to Foreigners byDegree of Liquidity
2.0
1.5
1.0
MONETARY RATIOS
2\
0 I I I I I I I I I I I I
4.0
3.5
3.0
2.5
2.0
1.5
1.0
OTHER RATIOS
\ .
I960 62 64 66 68 70
ReservesA :
1 Liabilities to foreign official agencies
Liquid assetsA
Liquid liabilities to private foreigners and liquid and nonliquid
liabilities to foreign official agencies
Liquid and nonliquid short-term assetsB —
1 Liquid and nonhquid short-term liabilities to all foreigners and
nonliquid liabilities to foreign official agencies
n Long-term assetsB?
Long-term liabilities to other than foreign official agencies
n Total U.S. assets abroad
3 Total U.S. liabilities to foreigners
NOTE.—Refer to table 4 for data.
U.S. Department of Commerce, Bureau of Economic Analysis 72-10-
SUEVEY OF CUEEENT BUSINESS
Total U.S. liabilities rose an un-precedented $25.1 billion, $22.4 billiondue to capital inflows and $2.7 billionto price and other adjustments. Therewas a $4.3 billion increase in nonliquidliabilities, which largely reflected anincrease in foreign holdings of U.S.securities of $4.4 billion. Half of theincrease was due to additional purchasesand half to appreciation in the valueof existing holdings. A net increase inforeign direct investment in the UnitedStates of $0.4 billion reflected thereinvestment of earnings, more thanoffsetting a small capital outflow. Thelatter was probably associated withexchange market developments.
Total liquid liabilities to foreignersincreased $20.9 billion (table 2, line 36).Liabilities to foreign official agenciesrose $26.9 billion; sales of dollars on thepart of private holders, both in theUnited States and abroad, led to thisvery large increase. There was a largereduction of liquid liabilities to privateforeigners, totaling $6 billion, for thesecond consecutive year. U.S. banksfurther reduced liabilities to theirforeign branches and other foreignbanks, as did U.S. agencies of foreignbanks to their head offices abroad asU.S. interest rates continued to decline.Dollars were heavily borrowed abroadby European (especially German) firmssubject to restrictive domestic creditpolicies and were converted into othercurrencies to finance their businessoperations. Dollars were borrowed alsoto acquire currencies which were ex-pected to appreciate against the dollar.All these transactions resulted in dol-lars being channeled to foreign com-mercial banks in exchange for local cur-rencies. The commercial banks subse-quently turned in their dollars to theircentral banks, thus contributing to thelarge buildup in U.S. liquid liabilities toforeign official agencies.
In sum, nonliquid assets rose $10.2billion more than nonliquid liabilities,but liquid liabilities rose $21.6 billionmore than liquid assets. The deteriora-tion in the liquidity structure of theU.S. international investment posi-tion—particularly in that part relatingto official U.S. reserve assets and U.S.
October 1972
liquid liabilities to foreign official agen-cies—reached a point where it becamenecessary to suspend dollar converti-bility into gold and other reserve assetson August 15,1971.
Liquidity structure
To facilitate an analysis of the chang-ing liquidity structure of the U.S.international investment position,ratios of selected categories of assetsand liabilities are shown in table 4 andin chart 9. Such an analysis is subjectto limitations because the degree ofliquidity of broad categories of assetsand liabilities, being compared, is notexactly identical.
An examination of the ratios showsthat mounting payments deficits inrecent years have had the cumulativeeffect of eroding our liquidity structure.Eatio Al is, roughly, the investmentposition counterpart of the officialreserve transactions balance in thepayments accounts although the twoindicators do not focus on exactly thesame question. The size of the balanceis not affected by how it is financed, i.e.,whether there is a change in reserves ora change in liabilities to foreign officialagencies. The ratio, which comparesU.S. official reserve assets to U.S.liabilities to foreign official agencies, isaffected by the composition of thefinancing. Throughout the early sixtiesthe ratio was above one but declining.It dropped to 0.77 in 1967, recoveringfor the next 2 years as the officialbalance returned to surplus, reflectingthe tight monetary policy in the UnitedStates. However, in 1970 the ratiodeclined to 0.59, as U.S. short-terminterest rates declined sharply. Theratio deteriorated at an acceleratedpace in 1971, as growing expectations ofa dollar devaluation against otherleading currencies led to a large scalerun on the dollar. Liquid dollar lia-bilities to foreign official agencies soaredand the ratio fell to less than 0.30 bymid-1971. From mid-August throughmid-December 1971, there was a con-trolled float in exchange rates, andseveral foreign countries implementedrestrictions on capital movements to
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUEVEY OF CUEEENT BUSINESS
Table 4.—Liquidity Ratios: Outstanding U.S. Assets Abroad to Liabilities to Foreigners, by Degree of Liquidity
23
Referto
chart
Ai
A2
Bi
B2
B3
Lines in table 3
21
41
17
36
14+17
35+36
4+8
28+29
2
26
Ratios
Monetary Combinations
Reserves
Liabilities to foreign official agencies
Liquid assets
Liquid liabilities to private foreigners and liquid and nonliquid liabilities toforeign official agencies
Other Combinations
Liquid and nonliquid short-term assets
Liquid and nonliquid short-term liabilities and nonliquid liabilities to foreignofficial agencies
Long-term assets
Long-term liabilities to other than foreign official reserve agencies
Total U.S. assets abroad
Total U.S. liabilities to foreigners
1960
{i AS.
( Vr°-
(1 19J.U
{o on
{n fun
1961
1 AQ
C9
I ftA
2 ftn
1962
1 OR
q OO
2 no
1963
1 11
Hf\
O9
q OK
9 no
1964
I nn
AA
Q1
q 97
9 A9
1965
n CA
KO
Q4.
1966
ft o3
KA
7Q
3 CO
1967
0 77
4.7
q qw
1 OA
1968
n s"i
AQ
7n
1 Q1
1969
1 nn
AO
A4.
3 nn
I ff A
1970
O CQ
3ft
KO
9 Q7
1 71
1971
n 94.
24
40
2 QO
1 A7
discourage inflows of funds. During thisperiod the deficit in the official reservetransactions balance roughly measuredthe extent of intervention by foreigncountries to limit appreciation of theircurrencies. As the dollar has been offi-cially inconvertible into gold and otherreserve assets since August 15, practi-cally all this intervention was reflectedin further dollar accumulations by thesecountries. Ratio Al reflected this, anddropped to 0.24 at yearend (where itremained to June 1972).
The worsening of the situationthrough 1971 can also be seen in ratioA2. This ratio, which is, essentially,the counterpart in the investment posi-tion of the net liquidity balance in thepayments accounts, expands the cover-age of U.S. assets to include privateliquid claims in addition to reserves. Itcompares all these liquid assets toliabilities to foreign official agenciesand liquid liabilities to private for-eigners. This ratio also declined in 1970and 1971 but to a lesser degree. Thedecline would have been smaller ifunrecorded acquisitions of private U.S.claims on foreigners could be taken intoaccount.
Other combinations of assets andliabilities in table 4 are useful in assess-ing long-term developments in our in-ternational investment structure. Ratio
Bl, for example, compares reportedU.S. short-term assets (nonliquid andliquid short-term claims of U.S. privateresidents and U.S. official reserves) toshort-term liabilities (liquid and non-liquid short-term liabilities to privateforeigners and all liabilities to foreignofficial agencies). A lesser decline in thisratio than in the monetary ratios is dueto the recent growth in nonliquidclaims on foreigners. In the last 2 years,when foreign interest rates were higherthan U.S. rates and, in the fourthquarter of 1971 when export creditswere exempted from the VoluntaryCredit Restraint Program, U.S. in-creases in these assets exceeded changesin our nonliquid liabilities.
Ratios B2 and B3 are concerned withlong-term assets and liabilities, andtotal assets and liabilities, respectively.It is interesting to note that ratio B2,long-term assets to long-term liabilities,has been relatively stable since 1968,in contrast to the worsening of theshort-term ratio Bl. Ratio B3, coveringtotal assets and total liabilities is themost comprehensive of the ratios. Giventhe stability in the long-term asset andliability ratio the decline in B3 isassociated with the deterioration in ourrecorded short-term international in-vestment position.
(Continued from page 16)
cases, accounted for more thai: two-fifths of the differential between Stateand average U.S. personal incomechange. All but two of these States(Oklahoma and New Mexico) alsoregistered gains in manufacturing pay-rolls that were well above the nationalaverage. Florida is the only State ijithis group not dominated by changes infarming and manufacturing, but heremost recreation (service-type) relatedactivities advanced rapidly. In particu-lar, service industry payrolls showedlarge gains and construction was upmarkedly.
There were 15 States with weak in-come performance. Of these, there wereeight States where income was littlechanged (gains pf three-fourths of apercent or less): West Virginia, Wyo-ming, South Carolina, Utah, Maine,Texas, Colorado, and Oregon. In sevenother States, income dropped by one-half percent to 2 percent: Louisiana,Alabama, Maryland, North Dakota,Pennsylvania, Alaska, and Mississippi.Farm income was off sharply in nine ofthese 15 States, and manufacturingpayrolls were off or up only slightly in13. In three States with weak incomeperformance, losses associated withflooding had a measurable impact.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
24 SURVEY OF CUEEENT BUSINESS October 1972
ManufacturersMnventory and Sales Expectations
Table 1.—Manufacturer's Inventories and Sales
Inventories, end of quarterDurables manufacturers. . ..Nondurables manufacturers..
Sales, quarter totalDurables manufacturersNondurables manufacturers .
Inventory-sales ratio 1
Durables manufacturers _Nondurables manufacturers ....
Inventory condition "High" 2
Durables manufacturersNondurables manufacturers .
Inventory condition "Low" 2_Durables manufacturersNondurables manufacturers
Inventory imbalance:Inventory excess. —Inventory deficiency _ _ . .Net excess. __ . .
Actual
1971IV
Expected
1972
I II III IV
Billions of dollars, seasonally adjusted
101.765. 935.8
171.191.779.4
102.566.635. 9
178.796.782.0
103.567. 436.1
183.9100.483.5
104.468.136.3
188.8104. 084.8
105.468.836.6
190.8104.686.3
Months of sales, seasonally adjusted
1.782.151.35
1.722.071.31
1.692.011.30
1.661.961.28
1.661.971.27
Percent
171815111
151613343
151613556
Billions of dollars
2.00.16
1.84
1.72.78.94
1.71.55
1.16
1. End-of-quarter inventories divided by average monthly sales during the quarter.2. Percent of inventory book value held by companies classifying their inventories as "High" or "Low" relative to sales and
unfilled orders; remaining percentage is held by companies classifying holdings as "About Right."Data: Census.
The cautious inventory policies thathave characterized the current economicrecovery continue to be evident fromthe latest quarterly survey of manufac-turers' inventory and sales expectationstaken in July and August. The survey'sfindings, which became available in lateOctober, show that manufacturers ex-pected to add $0.9 billion to inventoriesin the third quarter, and $1 billion inthe fourth; these increases are littledifferent from those in the earlierquarters of the year.
Manufacturers' sales expectationsshow a rise of 2.7 percent for the thirdquarter, and a further increase of 1.1percent for the fourth quarter. Theserates of gain compare with actual in-creases of 4.4 percent in the firstquarter and 2.9 percent in the secondquarter.
Companies holding 15 percent oftotal manufacturers' inventories clas-sified their June 30 stocks as "high";this was the same proportion as onMarch 31, but well below the 21 per-cent reported as of June 30, 1971.Inventories classified as "low," whichwere negligible at the beginning of theyear, rose to a more appreciable 5percent as of June 30, 1972. If the salesand inventory expectations are realized,the recent decline in manufacturers'inventory-sales ratios would continuethrough the third quarter, and hold atthis rate at yearend.
Responsibility for the quarterly sur-vey was transferred early this yearfrom BE A to the Census Bureau, andproblems associated with the transferdelayed tabulation of the July survey
Revisions since January 1966 in aggregate manufacturing and trade sales and inven-tories and in inventory/sales ratios, regularly published on page S-5 of the SURVEY, areshown below.
The revisions in the aggregate reflect new estimates for manufacturers' shipments andinventories and for retail inventories. Data for retail sales and for wholesalers' sales andinventories have not be§n revised.
Fuller details on the revision for manufacturing, which starts in January 1966, arepublished in the Census Bureau's report, Manufacturers' Shipments, Inventories, andOrders: 1966-1972, Series M3-1.4 (revised). Retail inventories starting in January 1970have been adjusted to the data in the Bureau of the Census's 1971 Annual Retail TradeSurvey, which provides the annual benchmark for the monthly series; in addition, theseasonal factors have been updated.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS 25
Table A.—Manufacturing and Trade Sales, Inventories, and Inventory/Sales Ratios, and Retail Inventory/Sales Ratios
Year andmonth
1966:JanuaryFebruaryMarchAprilMay _June..JulyAugust..SeptemberOctoberNovemberDecember
1967:JanuaryFebruaryMarchApril .May _June _ _ _ _ _July. . .AugustSeptember. _October....NovemberDecember
1968:JanuaryFebruaryMarchAprilMay . . _June _JulyAugustSeptemberOctoberNovemberDecember
Manufacturing and trade salesand inventories
Unadjusted
Inven-tories
120, 894123, 173125, 342126, 705128, 062128, 859129,118129, 698130,786133, 894136, 428135,262
137, 182138, 775140, 422141, 495141, 608140, 767140, 194140, 412141, 028142, 820145,053143, 847
144, 964146, 553148,082149, 815150,854150, 526149, 871150, 109150, 835153,939155, 691153, 956
Sales
77, 77880, 67888, 74687, 95086, 87891, 07882, 78887, 19389, 37290,82989, 38793, 458
80, 93382, 91690,71588, 01590, 49293, 72684, 85290,03191,74592, 02793, 12597, 802
86, 99990,59095, 81296, 02198, 687
100, 14394,48696, 10698, 509
103, 480101, 339103,026
Seasonallyadjusted
Inven-tories
121, 638123,028124, 240125, 297126, 846128, 566129, 733131, 209132, 223133, 782135, 214136, 729
138, 017138, 689139, 305139, 957140, 193140, 429140, 986141, 984142, 220142, 509143, 653145, 108
145,817146, 544146, 980148, 207149, 553150, 301150,747151, 787152,483153, 695154, 389155,336
Sales
85,19985,49887, 18986, 60586, 11687, 56386, 73887,79588, 38288, 49287, 84188,061
88, 32387,83888, 41688, 58388,70589, 67989, 34590,59990, 88389, 62891, 65893, 412
94, 16294, 44495, 21395, 19896, 19496, 97498, 29196/27898,53099, 50799, 97799, 033
Inventory /sales ratios
Manu-fac-
turing
1.431.441.421.451.471.471.501.491.501.511.541.55
1.561.581.581.581.581.571.581.571.561.591.571.55
1.551.551.541.561.551.551.531.581.551.541.541.57
Retail trade
Total
1.391.411.391.421.471.461.461.451.451.471.481.50.
1.481.491.481.471.461.431.451.461.431.461.461.47
1.461.441.411.441.441.431.421.421.421.431.431.45
Du-rable
,1.881.911.831.962.132.072.082.002.022.082.092.09
2.082.152.092.052.021.952.002.011.912.052.032.03
2.032 00L952.012.002.011.981.961.971.971.992.01
Non-durable
1.151.161.171.161.171.171.171.181.181.191.191.22
1.191.201.191.201.201.191.191.201.191.191.201.20
1.191.181.161.171.171.161.151.151.151.171.161.18
Year andmonth
1969:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
1970:JanuaryFebruaryMarchAprilMayJuneJuly ..AugustSeptemberOctober.NovemberDecember
1971:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember
Manufacturing and trade salesand inventories
Unadjusted
Inven-tories
155, 066157, 164159, 315160, 877161, 537161,254161, 058161, 004162, 507165, 224167, 010165, 302
165, 845167, 968169, 717171, 668171, 266171, 150171, 140170, 791171, 634173, 894175, 997173, 435
174, 570176, 347178, 633180, 046180, 597179, 631178,893178, 283179, 706182, 132183, 396181, 010
Sales
93, Oil95, 346
102, 154102, 872104, 818106, 61399, 197
102, 362106, 530110, 474104,515109, 422
96, 19998, 380
104, 597103,644105, 884110, 067102, 481103, 695107, 257107, 729102, 296110, 664
97, 517101, 801111, 276111, 672112, 331118, 472108, 430111, 241115, 719116, 477116, 683121, 547
Seasonallyadjusted
Inven-tories
155,906157, 159158, 149159, 054160,095160, 958161, 931162, 782163, 869165, 030165, 593166, 694
166,919168, 073168, 626169, 762169,672170, 698171, 968172, 720173, 221173, 437174, 374174, 942
175, 740176, 472177, 390178, 037178,827179, 155179, 612180, 298.181, 331 \181, 747181, 852182, 842
Sales
100, 108101, 149101, 593102, 253102, 571102, 844102,857104,174104,923105, 876104, 775104, 274
103, 84L104, 395103, 962103, 201104, 731105, 073105, 470105,800105,438103, 712102,466104, 998
106, 767108, 201109, 752110, 453111, 458112, 647111, 791113,910113, 450113, 191115, 757115, 630
Inventory/sales ratios
Manu-fac-
turing
1.56.55.56.56.56.57.57
1.56.56
1.561.581.60
1.611.611.621.641.621.621.631.631.641.67.70. 67,
.65
.63
.62
.61
.60
.59
.61
.58
.60
.61
.57
.58
Retail trade
Total
1.441.441.46
'•1.44.1. 451. 461.481.471.481.491.491.50
1.49,1.48'1. 471.471. 451.471.471.481.471. 461.471.47
1.461.461.471.471. 491.481.501.481.481.491.461.50
Du-rable
2.021.992.042.022.002.032.102.102.092.132.152.15
2.202.152. 162.142.112.132.132.142.142.152.242.22
2.072.082.052.062.132.112.132.072.042.062.012.10
Non-durable
1.161.171.171.171.181.191.191.181.191.181.191.20
1.181.171.171.171.161.171.171.171. 161.171.171.16
1.191.171.191.191.191.191.201.191.201.211.181.21
Table B.—Retail Inventories
1970:JanuaryFebruaryMarchAprilMayJune _JulyAugustSeptemberOctoberNovemberDecember. ....
1971:JanuaryFebruaryMarch .April. _ - - - - - _ .May.... _ _JuneJulyAugustSeptemberOctoberNovemberDecember
Unadjusted
Retailtrade,total
43, 78544, 69745, 87446, 55446,08046, 27746,32645,45446, 26747,01647, 96445,439
45,63047, 23449, 55250,49650, 68950, 54850, 37349, 82751,51452, 87053, 72050, 889
Du-rablegoodsstores,total
20, 18720, 63221, 12821, 42921, 30221, 48921, 32519, 92919, 96319,56719, 51519, 801
20, 46121, 56722, 68923,26123,65923, 68023,33022, 16122,91623,13023, 38723, 152
Auto-motivegroup
9,7059,902
10, 24410, 44110, 49910, 67110, 5519,1099,1128, 5428,2958, 850
9, 54010, 45011, 28811,68712,01812, 15511, 81810, 58311, 22611, 25411, 27811, 384
Furni-tureand
appli-ance
group
3,1843,2343,3003,3673,3183,3483,3473,3633,4043,5103, 5633,384
3,3233, 3823,4553, 5333, 5243,5073,4793, 5163, 5663,6263,7103,557
Lum-ber,
build-ing
mate-rialshard-waregroup
2,6272,6192, 6742,6972,6432,6432,6332,6142,6252,6112,6252,671
2,7442,8443,0053, 0433, 1173,1183,1163, 0763, 1163,1893,2063,219
Non-du-
rablegoodsstores,total
23, 59824, 06524, 74625, 12524, 77824, 78825,00125,52526, 30427, 44928,44925,638
25, 16925, 66726, 86327, 23527, 03026, 86827, 04327,66628, 59829, 74030, 33327, 737
Ap-parelgroup
4,1594,2734,4114,4604,3724, 2764,2854,4684, 6204, 6984, 8834,209
4,0534, 1594,4274,4544, 3804, 3284,3684,5944,7654, 8995, 0054,397
Foodgroup
4, 7434,7864,8404,8654,8674,8734,8914,8364,8685,0525,2625,078
4, 9794,9645,1395,1855,2045,2425,2575,2195,2805, 4525,6305,507
Generalmer-chan-dise
group
8,9079,1639, 5629,7269,6069, 6379,895
10,17910, 74111,44711, 7989,905
9,88910, 23810, 76911,04011, 06110, 93711,02911,31811, 97312, 62712, 83511,062
De-part-mentstores
5, 1325,3125,6365,7135,6635,6835,8786,0806, 4496, 8917,1545, 976
5,9576,1286,5166,6446,6456,5096, 5586,7167,1777, 6327,8216,613
Adjusted
Retailtrade,total
45, 18845, 26645, 27345, 50645, 34845, 94546, 41646, 84546, 84546, 15146, 13746, 626
47, 19347, 90948, 82049,34849, 82150, 20850, 42951,22352,10452, 08351, 91652, 261
Du-rablegoodsstores,total
20, 37520, 38620, 37520,41620, 34420,64020, 94921, 21721, 13020, 25619, 81920, 345
20,72821,35021, 77022, 14222,54722,77222, 89723, 44124,14324, 03423, 87223, 808
Auto-motivegroup
9,6479,5399,5839,6239, 6769,853
10,10610, 37510,2389,3058,8069,133
9,55910,12610,46910, 78111,05611,28211, 30911, 82612, 39912, 21911, 97211,772
Furni-tureand
appli-ance
group
3,3033,3103,3233,3243,2953,3513,3713,3803,3943,4283, 4133,432
3,4443,4583,4763, 4883,5003, 5143,5073,5343, 5593, 5413,5543,604
Lum-ber,
build-ing
mate-rialshard-waregroup
2,6782,6352,6222, 6132,5692, 5992,6252, 6432,6572, 6482,6622, 748
2,7972,8552,9432, 9493,0263,0663,1043,1103,1573,2383,2553,312
Non-du-
rablegoodsstores,total
24, 81324,88024,89825,09025, 00425, 30525,46725, 62825,71525, 89526,31826,281
26, 46526, 55927,05027, 20627, 27427,43627, 53227, 78227, 96128, 04928, 04428,453
Ap-parelgroup
4, 5214,4514,4244, 4514,4394,4364, 4084,3934, 3714,3784, 4724,384
4,4014,3374, 4454,4414,4474,4854,4894,5174,5124,5664,5834,580
Foodgroup
4,8054,8444,8354,8604, 8674, 8934,9254, 9254,9224, 9685,0745,018
5, 0505,0295,1395, 1855, 1995,2635, 2895,3155,3445,3665,4295,442
Generalmer-chan-dise
group
9,6349, 6839,7249,7719, 7119, 913
10,08910, 19510, 29810, 36510, 51010, 528
10,70310, 83010, 95111, 10211,17911, 25011,22811, 33611, 47911, 43511,43311,753
De-part-mentstores
5, 5845, 6515,7105, 7425,7205,8956,0236,1046,1836,1976,, 2926/357
6,4756,5266,6026,6846,7056, 7456,7126,7436,8816, 8696,8797,035
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
26 SUEVEY OF CUEEENT BUSINESS October 1972
Table 1.—U.S. Balance ol Payments Summary, 1948-59, Annually
[Millions of dollars]
Line
123
4
5
6789
10
11
12
13
14
15
16
1718
19202122232425
26
27282930
3132
33
3435363738394041
42
43
44
45
4647484950
51
52
53
54
(Credits-t-; debits-)
Merchandise trade balance l
Exports __Imports _
Military transactions, net _
Travel and transportation, net
Investment income, net2 . _ . . . . .U.S. direct investment abroad _ _ _ _ _ _ _ _ _ _ _Other U.S. investment abroad _ _ __Foreign investments in the United States
Other services, net.. _
BALANCE ON GOODS AND SERVICES 3
Remittances, pensions and other transfers
BALANCE ON GOODS, SERVICES AND REMITTANCES __
U.S. Government grants (excluding military)
BALANCE ON CURRENT ACCOUNT *._ . _
U.S. Government capital flows excluding nonscheduled repay-ments, net *
Nonscheduled repayments of U.S. Government assetsU.S. Government nonliquid liabilities to other than foreign-
official reserve agenciesLong-term private capital flows, net. _
U. S . direct investment abroad _ _ _Foreign direct investment in the United States-Foreign securities _ _ .U. S . securities other than Treasury issues. _ _ . .Other, reported by U.S. banksOther, reported by U.S. nonbanking concerns _
BALANCE ON CURRENT ACCOUNT AND LONG-TERMCAPITALS...
Nonliquid short-term private capital flows, net ?_Claims reported by U.S. banks 1Claims reported by U.S. nonbanking concerns 7
Liabilities reported by U.S. nonbanking concerns
Allocations of special drawing rights (SDR) <Errors and omissions, net.
NET LIQUIDITY BALANCE.
Liquid private capital flows, net rLiquid claims 7 . _
Reported by U.S. banks 1Reported bv U.S. nonbanking concerns 7
Linuid liabilitiesTo foreign commercial bantsTo international and regional organizations -_ _-To other foreigners. _.
Official reserve transactions balance
Financed by changes in:
Nonliqnid liabilities to foreign official reserve agencies reportedbv U.S. Government
Nonlianid liabilities to foreign official agencies reported byU.S. banks
Liquid liabilities to foreign official agencies
U.S. official reserve assets, netGold__._ _SDR _Convertible currenciesGold tranche position in IMF _ . .
Memoranda:
Transfers under military grant programs (excluded from lines2, 4, and 14).
Reinvested earnings of foreign incorporated affiliates of U.S.firms (excluded from lines 7 and 20) . . ...
Reinvested earnings of U.S. incorporated affiliates of foreignfirms (excluded from lines 9 and 21)
Liquidity balance, excluding allocations of SDR _ .
Refer-encelines
(table 2)
216
3,17
4,5,618,19,20
10,1112,1324, 25,
26,277, 8, 9,21,22,23
31,32....
30
34, 35, 36.
37
55
394840.49.41 5244,50..__
424551
6364.
434656
54
5357
5859
62
14, 28—
56, 57,58,63
1948
5,70813, 265
—7, 557
« -799
374
1,2621,277
276-291
—27
6,518
-631
5,887
-3, 894
1,993
—1.024
n.s.s.n.a.
-72134
-95-192
n.s.s.-23
n.a.
-131-132
25-24
1,115
n.a.
n.a.—9-3-6
n.s.s.
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
-1, 736-1, 530
-206
448
581
157
817
1949
5 33912, 213
—6, 874
« -621
230
1,2731,332
283-342
-3
6,218
-641
5,577
-4, 997
580
-652
n.s.s.n.a.-660
562774
n.s.s.-89
n.a.
158188
-33
717
n.a.
n.a.— 4-6
n.s.s.n.s.s.n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
—266-164
-102
211
436
143
136
1950
1 12210, 203
—9, 081
« -576
—120
1,4601,540
299-379
6
1,892
-533
1,359
-3, 484
-2,125
-156
n.s.s.n.a.-621
80-275
-7n.s.s.
-48
n.a.
7546
—736
-124
n.a.
n.a.—188-158—30
n.s.s.n.s.s.n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
1,7581,743
15
520
475
190
-3,489
1951
3, 06714, 243
—11, 176
-1,270
298
1,7201, 764
390-434
2
3,817
-480
3,337
-3, 035
302
-156
n.s.s.n.a.-508
90-353
126n.s.s.
-81
n.a.
-227-224-38
35
354
n.a.
n.a.15914910
n.s.s.498
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
-33-53
2i
1,439
75
169
1952
2 61113, 449
—10, 838
-2,054
83
1, 6751, 711
409-445
41
2,356
-571
1,785
-1,960
-175
-420
n.s.s.n.a.-852
132-87
37n.s.s.
-95
n.a.
-41-83
44
497
n.a.
n.a.9
~~4—5
n.s.s.32
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
-415-379
-3i
2,582
923
134
-1,206
1953
1 43712 412
—10 975
-2, 423
—238
1,7321,747
468-483
24
532
-644
-112
-1, 837
-1,949
-218
n.s.s.n.a.-735
1589170
n.s.s.-21
n.a.
18316829
-14
22(
n.a.
n.a.-30-22-8
n.s.s.-59
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
1,2561,161
95
4,176
826
163
-2,184
1954
2 57612 929
—10 353
-2, 460
-269
2, 1122,053
502-443
1,959
-633
1,326
-1,647
-321
93
n.s.s.n.a.-667
124-206
141n.s.s.
__4
n.a.
-556-406-125-25
6C
n.a.
n.a.-104-82-22
n.s.s.1
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
480298
182
3,362
702
162
-1,541
1955
2 89714 424
—11 527
-2, 701
—297
2,2972,285
532-520
-43
2,153
-597
1,556
-1,901
-345
-310
n.s.s.n.a.-823
19720
181n.s.s.
-23
n.a.
-328-191-58-79
37]
n.a.
n.a.58292<
n.s.s.410
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
1824:
141
2,588
962
187
-1,242
1956
4 75?17 55
—12 801
-2, 788
—361
2,4942,609
491-606
47
4,145
-690
3,455
-1,733
1,722
-629
n.s.s.n.a.-1, 951
232-421
323n.s.s.
24
n.a.
-479-399-142
62
390
n.a.
n.a.241311
n.s.s.428
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
-869-306
-563
2,567
1,175
167
-923
1957
6 27119 562
—13 291
-2, 841
—189
2,5882,695
568-675
72
5,901
-729
5,172
-1,616
3,556
-958
n.s.s.n.a.
-2, 442155
-470237
n.s.s.-42
n.a.
-174-255-13
94
1,012
n.a.
n.a.-8— 1— 7
n.s.s.60
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
-1, 165-798
-367
2,418
1,363
157
621
1958
3 46216 414
—12 952
-3, 135
—633
2,5842,563
724-703
78
2,356
-745
1,611
-1,616
-5
-971
n.s.s.n.a.-1, 181
98-1, 250
(*)n.s.s.
-59
n.a.
-145-302
51106
361
n.a.
n.a.-60-49—11
n.s.s.48
n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
2,2922,275
--
2,286
945
156
-3,348
1959
1 1*816 458
-15310
-2,805
-821
2,7262771'815
-860
62
310
-815
-505
-1,633
-2,138
[ -787
[ 434
n.s.s.n.a.-1, 372
238-668
449n.s.s.
-54
n.a.
-89-60-41
12
260
n.a.
n.a.243
21n.s.s.
1,158n.s.s.n.s.s.
n.a.
n.s.s.
n.s.s.n.s.s.
1,0351,075
""-40
1,974
1,089
223
-3,648
N.a. Not available. N.s.s. Not shown separately.1. Adjusted to balance of payments basis; excludes exports under U.S. military agency
sales contracts and imports of U.S. military agencies.
5. Includes some short-term U.S. Government assets.6. Includes direct defense expenditures only.
s contracts ana imports of U.S. military agencies. 7. Coverage of liquid banking and nonbanking claims is limited to foreign ----„- id2. Includes fees and royalties from U.S. direct investments abroad or from foreign direct posits only; other liquid items are not available.separately and are included witn nomiqum
investments in the United States.3. Equal to net exports of goods and services in national income and product accounts
of the United States.4. The sum of lines 15 and 31 is equal to "net foreign investment" in the national income
and product accounts of the United States.
claims.NOTE.— Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUEVEY OF CUKKEJNT BUSINESS 27
Table 2.—U.S. International Transactions, 1948-59, Annually
[Millions of dollars]
Line
1
234567
<89
10111213
14
15
1617181920212223
24252627
28
29
303132
33
3435
3637
38
3940
414243
444546
47
4849
50515253
5455
5657
58
59606162
63
64
(Credits +; debits -)i
Exports of goods and services 2
Merchandise, adjusted, excluding military 3
Transfers under U.S. military agency sales contractsTravel _ _ _ _ _ _ _ _ _Passenger fares _ _Other transportation. _ _Fees and royalties from unamliated foreigners . _Other private services . _ . _ _ _ _ _U.S. Government miscellaneous services
Receipts of income on U.S. investments abroad'Direct investment fees and royalties.Direct investment interest, dividends and branch earnings 4_Other private assets— _ , _U.S. Government assets.. _ _ _
Transfers of goods and services under U.S. military grant programs, net ,
Imports of goods and services
Merchandise, adjusted, excluding military sDirect defense expendituresTravelPassenger fares _ _ _Other transportation _ _ _Fees and royalties to unamliated foreigners,.Private payments for other services.___U.S. Government payments for miscellaneous services
Payments of income on foreign investments in the United States:Direct investment fees and royalties __ .Direct investment interest, dividends and branch earnings *Other private liabilities.. _U.S. Government liabilities
U.S. military grants of goods and services, net _ __
Unilateral transfers (excluding military grants), net
U.S. Government grants (excluding military)U.S. Government pensions and other transfersPrivate remittances and other transfers.
U.S. Government capital flows, net
Loans and other long-term assetsForeign currencies and other short-term assets, net. _ _ _
Repayments on credits:ScheduledNonscheduled..
U.S. private capital flows, net
Direct investments abroad *Foreign securities
Claims reported by U.S. banks:Long-termShort-term, nonliquid 8
Short-term, liquid 8
Claims reported by U.S. nonbanking concerns:Long-termShort-term, nonliquid 5
Short-term, liquid 6 _
Foreign capital flows, net
Direct investments in the United States < _ _ _U.S. securities other than Treasury issues
Other U.S. nonliquid liabilities to private foreigners:Long-term, reported by U.S. nonbanking concernsShort-term, reported by U.S. nonbanking concernsLong-term, reported by U.S. banks. - _
Long-term liabilities to foreign official agencies reported by U.S. banks
Nonliquid liabilities reported by U.S. government:To foreign official reserve agencies _- _ _To other official and private foreigners
U.S. liquid liabilities:To private foreigners . _ _ _ _To foreign official agencies _ _ _
Transactions in U.S. official reserve assets, net
GoldSDRConvertible currenciesGold tranche position in IMF _ _ _ _
Allocations of special drawing rights (SDR)
Errors and omissions, net. _
1948
16,861
13 265n s s.
33499
1,218\ onoJ 292
100
21?1,064
174102
448
—10,34?
—7 557—799—631
—79-567
j —208-211
-11-10P-158-17
-448
-4,525
-3, 89466
-697
-1,024
—1 66588
443
—906
-721—95
39—132
—3
1?25
—6
558
34—192
—10—24
—4
—165
} 919
—1,736
—1 530
—206
11,115
1949
15,834
12 213n s s
39289
1 149
244132
2201,112
18598
211
—9,616
—6 874-621—700—107—593-144—235
—9—164—144
—25
—211
—5,638
-4, 997—109-532
—65?
—68*-17?
205
—553
—66027
_2Q
188—6
7832
174
5674
—11—33
(*)
—42
130
—266
—164
—102
717
1950
13,893
10 203n.s s
41988
945267132
2461,294
190109
520
—12,001
—9 081—576—754—147—671-143-250
-10-172— 16P—31
-520
-4,017
-3, 484—79
-454
—156
—414-37
295
—1 265
—621—275
17746
—158
437
—30
1 912
807
—536
(*)
77
1,731
1 758
1 743
15
-124
1951
18 864
14 243n s s
47391
1,465286152
2721 492
192198
1,439
—15 047
—11 176—1 270
—757—133—841-182—254
-20—188— 17Q
—47
-1,439
—3,515
—3 035—71
—409
—156
—458—3
305
1 048
—508353
14224149
703810
581
90126
1135
(*)
300
41
—33
53
20
354
1952
18,122
13 449n s s
550112
1,376
309206
2921 419
205204
2,582
—15 766
—10 838—2 054
-840—175—940
-197
—277
-24-183—174
—64
-2,582
—2,531
—1 960—128—443
—420
—847—2
429
1 160
—85287
36834
qj25
1 673
13237
—4441
-158
1, 621
—415
—379
—36
497
1953
17,078
12 412192574107
1,091314173
3051 442
216252
4,176
—16 546
—10 975—2 615
—929—181—900-223—240
-22-196— 179—86
-4,176
—2,481
-1, 837—141-503
— 218
—71611
487
—383
—73591
llt>168
—22
2129
—8
1 074
15870
(*)—14
(*)
-68
928
1 256
1 161
95
22C
1954
17 889
12 92Q'l82595111
1 060307150
3281 725
230272
3,362
—15 930
—10 353—2 642—1 OOP
—186—840
—285-222
-2?-177—184
—59
-3,362
-2,28C
-1, 647—12°-504
93
—306-108
507
—1 62?
—667206
102—406—82
1212*
—22
1 310
124141
8—25
1
(*)
1,061
480
298
182
60
1955
19 948
14 424200654120
1,286324123
3731 912
258274
2,588
—17,795
—11 527—2 901— 1 153
—206—998—273-217
-31-179—216-94
-2,588
-2,498
-1, 901—141-456
-310
—383-343
416
-1,255
-82320
—226—191
29
—35—58
29
1 357
197181
12—79
(*)
—14
1,060
182
41
141
371
1956
23,772
17 556161705126
1,491( 133{ 378
122
4382, 171
297194
2,567
-19,627
—12 803—2 949—1, 275
—241-1, 167
( -23( —328
-235
-38-178-236-154
-2,567
-2,423
-1,733-135-555
-629
-545-563
479
-3,071
-1, 951-421
—166—399
13
-16-142
11
2,457
232323
4062
1,792
-869
-306
-563
390
1957
26,653
19 562375785148
1,819140424137
4462,249
363205
2,418
—20,752
—13 291—3 216—1, 372
—264-1, 305
-22-326-281
-36-188-250-201
-2,418
-2,345
-1, 616-159-570
-958
—993-624
659
-3,577
-2,442-470
-349-255-1
-40-13-7
1,132
155237
-2949
95
544
-1,165
-798
-367
1,012
1958
23 217
16 414300825156
1,482168444141
4422 121
417307
2,286
-20,861
—12 952—3 435— 1 460
-323-1, 313
-25-368—282
-34-211-319-139
-2,286
-2,361
-1,616-182-563
-971
-1, 176-339
544
-2,936
-1, 181-1, 250
-152-302-49
-4251
-11
1,259
98(*)
-17106
2,292
2,275
17
361
1959
23 652
16 458302902165
1,481166449143
5432 228
466349
1,974
-23,342
—15 310—3 107—1 610
-388-1, 371
-28—367-301
-32-218-329-281
-1,974
-2,448
-1,633-216-599
-353
-1,051-356
< 620\ 434
-2,375
-1, 372-668
-181-60
3
—77-41
21
3,571
238449
2312i
907
2 /»iq
1,035
1,075
-40
260
N.S.S. Not shown separately. *Lessthan$500,000(_t).1. Credits, -f: Exports of goods and services; unilateral transfers to U.S.; capital inflows
(increase in U.S. liabilities or decrease in U.S. assets); decrease in U.S.official reserve assets.
Debits, —: Imports of goods and services; unilateral transfers to foreigners; capitaloutflows (decrease in U.S. liabilities or increase in U.S. assets); increasein U.S. official reserve assets.
2. Excludes transfers of goods and services under U.S. military grant programs.3. Excludes exports of goods under U.S. military agency sales contracts identified in Census
export documents, and imports of goods included under direct defense expenditures identified
in Census import documents, and reflects various other balance-of-payments adjustments(for valuation, coverage, and timing) to Census statistics.
4. Excludes reinvested earnings of foreign incorporated affiliates of U.S. firms or of U.b.incorporated affiliates of foreign firms. ,
5. Coverage of liquid banking and nonbanking claims is limited to foreign currency de-posits only; other liquid items are not available separately and are included with nomiquiaclaims.
NOTE.—Details may not add to totals because of rounding.Source: U.S. Department of Commerce, Bureau of Economic Analysis.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUMMARY NATIONAL INCOME AND PRODUCT SERIES, 1929-71Table A.—Gross National Product
[Billions of dollars]
Year
19291930. .19311932.19331934193519361937 .19381939194019411942194319441945 . . .1946.. _1947194819491950195119521953195419551956 .195719581959 ... . .19601961 .1962 .1963196419651966 . .19671968 -.196919701971
GNP
103.190.475.858.055.665.172.282.590.484.790.599.7
124.5157.9191.6210.1211.9208. 5231.3257. 6256. 5284.8328.4345.5364.6364.8398.0419.2441.1447.3483.7503.7520.1560. 3590.5632.4684.9749.9793.9864.2930.3976.4
1,050.4
Personal consumption expenditures
Total
77.269.960.548.645.851.355.761.966.563.966.870.880.688.599.3
108.3119.7143.4160.7173.6176. 8191.0206.3216.7230.0236.5254.4266.7281.4290.1311.2325. 2335.2355.1375.0401. 2432.8466. 3492.1536.2579.5616.8664.9
Durablegoods
9.27.25.53.63.54.25.16.36.95.76.77.89.66.96.66.78.0
15.820.422.724.630.529.629.333.232.839.638.940.837.944.345.344.249.553.959.266.370.873.184.090.890.5
103.5
Non-durablegoods
37.734.029.022.722.326.729.332.935.234.035.137.042.950.858.664.371.982.490.596.294.598.1
108.8114.0116.8118.3123.3129.3135.6140.2146.6151.3155.9162.6168.6178.7191.1206.9215.0230.8245.9264.4278. 1
Services
30.328.726.022.220.120.421.322.824.424.325.026.028.130.834.237.239.845.349.854.757. 662.467.973.479.985.491.498.5
105.0112.0120.3128.7135. 1143.0152.4163.3175. 5188.6204.0221.3242.7261.8283.3
Gross private domestic investment
Total
16.210.35.61.01.43.36.48.5
11.86.59.3
13.117.99.85.77.1
10.630.634.046.035.754.159.351.952.651.767.470.067.960.975.374.871.783.087.194.0
108.1121.4116.6126.0139.0137.1152.0
Nonres-identialfixed in-vestment
10.68.35.02.72.43.24.15.67.35.45.97.59.56.05.06.8
10.117.023.426.925.127.931.831.634.233.638.143.746.441.645.148.447.051.754.361.171.381.683.388.898.5
100.9105.8
Residen-tial struc-
tures
4.02.3.1.7
.7
.6
.91.21.61.92.02.93.43.92.11.41.31.57.2
11.114.413.719.417.217.218.019.723.321.620.220.825.522.822.625.327.027.127.225.025.130.132.631.242.6
Change inbusinessinven-tories
1.7-.4
-1.1-2.5-1.6-.71.11.32.5
-.9.4
2.24.51.8-.6
-1.0-1.0
6.4-.54.7
-3.16.8
10.33.1.4
-1.56.04.71.3
-1.54.83.62.06,05.95.89.6
14.88.27.17.84.93.6
Netexports
1.11.0.5.4.4.6.1.1.3
1.31.11.71.3.0
-2.0-1.8-.67.5
11.56.46.11.83.72.2.4
1.82.04.05.72.2.1
4.05.65.15.98.56.95.35.22.51.93.6.7
Government purchases ofgoods and services
Total
8.59.29.28.18.09.8
10.012.011.913.013.314.024.859.688.696.582.327.025.131.637.837.959.174.781.674.874.278.686.194.297.099.6
107.6117.1122.5128.7137.0156.8180.1199.6210.0219.0232.8
Federal
1.31.41.51.52.03.02.94.94.75.45.16.0
16.951.981.189.074.217.212.516.520.118.437.751.857.047.444.145.649.553.653.753.557.463.464.265.266.977.890.798.898.896.597.8
Stateandlocal
7.27.87.76.66.06.87.17.07.27.68.28.07.97.77.47.58.19.8
12.615.017.719.521.522.924.627.430.133.036.640.643.346.150.253.758.263.570.179.089.4
100.8111.2122.5135.0
Finalsales
101.490.777.060.557.265.871.281.287.985.690.197.5
120.1156.2192. 2211.1213.0202.1231.8252.9259.6278.0318. 1342.4364.1366.4392.0414.5439.8448.8478.9500.2518.1554.3584. 6626.6675.3735.1785.7857. 1922.5971.5
1,046.7
GNP in1958
prices
203.6183.5169.3144.2141.5154.3169.5193.0203. 2192.9209.4227.2263.7297.8337.1361.3355.2312.6309.9323.7324.1355.3383.4395.1412.8407.0438.0446.1452.5447.3475.9487.7497. 2529.8551.0581.1617.8658.1675.2706.6725.6722.1741. 7
GNPimplicit
pricedeflator(Index
numbers,1958=100)
50.649.344.840.239.342.242.642.744.543.943.243.947.253.056.858.259.766.774.679.679.180.285.687.588.389.690.994.097.5
100.0101.6103.3104.6105.8107.2108.8110.9113.9117.6122.3128.2135. 2141.6
Table B.—National Income and Disposition of Personal Income[Billions of dollars]
Year
1929. .19301931.....19321933...19341935 _19361937.19381939-1940- . ....19411942.19431944-1945.1946.194719481949.1950. .1951195219531954.1955.1956. .1957. .19581959-1960.1961196219631964. .1965. .1966. ...- .1967.19681969.1970.1971 ..
Nationalincome
86.875.459.742.840. 349.557.265.073.767.472.681.1
104.2137.1170.3182.6181.5181.9199.0224.2217.5241.1278.0291. 4304.7303.1331.0350.8366. 1367.8400.0414.5427. 3457.7481. 9518.1564.3620. 6653. 6711.1766. 0798.6855.7
Com-pensation
of em-ployees
51.146. 839.831.129.534.337. 342.947.945.048.152.164.885.3
109.5121.2123. 1117.9128.9141.1141.0154.6180.7195.3209. 1208.0224.5243.1256.0257.8279. 1294.2302. 6323. 6341.0365. 7393.8435.5467.2514.6566.0603.8644.1
Proprietors' income
Businessand
profes-sional
9.07.65.83.63.34.75.56.77.26.97.48.6
11.114.017.018.219.221.620.322.722.624.026.127.127.527.630.331.332.833.235.134.235. 637. 137.940.242.445.247.349.550.549.952.6
Farm
6.24.33.42.12.63.05.34.36.04.44.44.56.49.8
11.711.612.214.915.217.512.713.515.815.013.012.411.411.411.313.411.412.012. 813.013.112. 114.816.114.814.716.716.917.3
Rentalincome
ofpersons
5.44.83.82.72.01.71.71.82.12.62.72.93.54.55.15.45.66.67.18.08.49.4
10.311.512.713.613.914.314.815.415.615.816.016.717.118.019.020.021.121. 222.623.324.5
Corporate profits and IVA
Total
10.57.02.0
-1.3-1.2
1.73.45.66.84.96.39.8
15.220.324.423.819.219.325.633.030.837.742.739.939.638.046.946.145.641.151.749.950.355.758.966.376. 182.478.784.379.869.978.6
Profitsbefore
tax
10.03.7-.4
-2.31.02.33.66.36.84.07.0
10.017.721.525.124.119.724.631.535.228.942.643.938.940.638.348.648.847.241.452.149.750.355.459.466.877.884. 279.887.684.974.383.3
Profitsaftertax
8.62.9-.9
-2.7.4
1.62.64.95.32.95.67.2
10.110.111.111.29.0
15.520.222.718.524.921.619.620.420.627.027.226.022. 328.526.727.231.233.138.446.549.946.647.844.840.245.9
Netinterest
4.74.95.04.64.14.14.13.83.73.63.53.33.23.12.72.32.21.51.91.81.92.02.32.62.83.64.14.65.66.87.18.4
10.011.613.815.818.221. 424.426.930.534.838.5
Personalincome
85.977.065.950.247.054.060.468.674.168.372.878.396.0
122.9151.3165.3171.1178.7191.3210. 2207. 2227. 6255. 6
I 272. 5288. 2290. 1310.9333.0351.1361.2383.5401.0416.8442.6465.5497.5538.9587.2629.3688. 9750.9806.3861.4
Less;Personaltax andnontax
pay-ments
2.62.51.91.51.51.61.92.32.92.92.42.63.36.0
17.818.920.918.721.421.118.620.729.034.135.632.735.539.842.642.346.250.952.457.460.959.465.775.483.097.9
116.5116.7117.0
Equals:Dispos-
ablepersonalincome
83.374.564.048.745.552.458.566.371.265.570.375.792.7
116.9133.5146. 3150.2160.0169.8189.1188.6206.9226.6238.3252.6257.4275.3293.2308.5318.8337.3350. 0364.4385. 3404.6438.1473.2511.9546.3591.0634.4689.5744.4
Less:Personaloutlays
79. 171.161.449.346.552.056.462.767.464.867.771.881.789.3
100.1109.1120.7144.8162.5175.8179.2193.9209.3220.2234.3241.0259.5272.6287.8296.6318. 3333.0343.3363.7384.7411. 9444.8479.3506. 0551.2596.2634.7683.4
Equals:Personalsaving
4.23.42.6-.6-.9
.42.13.63.8.7
2.63.8
11.027.633.437.329.615.27.3
13.49.4
13.117.318.118.316.415.820.620.722.319.117.021.221.619.926.228.432.540.439.838.254.960.9
Personalsavingrate1
(percent)
5. 04.64.1
-1.3-2.0
.73.75.45.31.13.75.1
11.823.625. 025.519.79.54.37.15.06.37.67.67.26.45.77.06.77.05.64.95.85.64.96.06.06.47.46.76.08.08.2
Dispos-able
personalincomein 1958prices
150.6139.0133. 7115. 1112. 2120. 4131. 8148. 4153. 1143. 6
| 155. 9166. 3190. 3213. 4222. 8231. 6229. 7227. 0218. 0229. 8230. 8249. 6255. 7263. 3275. 4278. 3296. 7309. 3315. 8318. 8333.0340.2350. 7367.3381. 3407.9435.0458.9477.5499.0513.6533.2554.7
1. Personal saving as a percent of disposable personal income.
U. S. GOVERNMENT PRINTING OFFICE : 1972 O - 478-721
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CURRENT BUSINESS STATISTICS
JLHE STATISTICS here update series published in the 1971 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEYOF CURRENT BUSINESS. That volume (available from the Superintendent of Documents for $3.00) provides a description of each series, referencesto sources of earlier figures, and historical data as follows: For all series, monthly or quarterly, 1967 through 1970 (1960-70 for major quarterlyseries), annually, 1947-70; for selected series, monthly or quarterly, 1947-70 (where available). Series added or significantly revised after the 1971BUSINESS STATISTICS went to press are indicated by an asterisk (*) and a dagger (f), respectively; certain revisions for 1970 issued too late forinclusion in the 1971 volume appear in the monthly SURVEY beginning with the September 1971 issue. Also, unless otherwise noted, revised monthlydata for periods not shown herein corresponding to revised annual data are available upon request.
The sources of the data are given in the 1971 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, andare also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1969 1970 1 1971
Annual total
1969
III IV
1970
I II III IV
1971
I II III IV
1972
I II III"
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCTf
Gross national product, totalf._— __bil.$_-
Personal consumption expenditures, total do _ _
Durable goods, total 9 doAutomobiles and parts _ _ _ doFurniture and household equipment _. _ do
Nondurable goods, total? _. _ _ doClothing and shoes __doFood and beverages doGasoline and oil do
Services total 9 doHousehold operation „ doHousing _ _ _ _ : _doTransportation do
Gross private domestic investment, total. _do
Fixed investment doNonresident ial — _ -do. _ _
Structures _ _ _ - _ do _ _Producers' durable equipment do
Residential structures _ _ _ _ _ _ _ d o _Nonfarm do
Change in business inventories _ doNonfarm _ _ -do _ _
Net exports of goods and services... _ _ _ . _ _ d oExports _ _ _ _ _ do._Imports do
Govt. purchases of goods and services, total. _do .___Federal do
National defense _ _ _ _ _ _ d o _State and local do
By major type of productrfFinal sales, total do
Goods, total _ _ _ _ _ _ d o _ _Durable goods doNondurable goods. _ _ _ _ _ _ d o _ _
Services doStructures _ _do_ _
Change in business inventories— doDurable goods doNondurable goods do
GNP in constant (1958) dollars!
Gross national product, totalf . bil. $__
Personal consumption expenditures, total.- _do_ _
Durable goods doNondurable goods doServices _ _ _ do
Gross private domestic investment, total do
Fixed investment _ _ doNonresidential doResidential structures do
Change in business inventories do
Net exports of goods and services _ _ _ _ d o
Govt. purchases of goods and services, total.. d o _ _ _ _Federal.. _ _ doState and local do
930.3
579.5
90.840.237.1
245.950.2
120. 620.9
242. 733.884.116.6
139.0
131. 198.534.264.332.632.07.87.7
1.955.553.6
210.098.878.4
111.2
922 5449. 7182 3267.4377.994.9
7.85 02 8
725. 6
469.1
85 6201 3182 2
110.5
103.880 123 76 7
.2
145.973 572.4
976. 4
616. 8
90.537.339.0
264.452.0
132.122.2
261. 836.390.918.2
137. 1
132.2100. 936.064.931.230.74.94.8
3.662.959 3
219.096.575.1
122 5
971 5467.0183 0284.0409 295.4
4.91 93 0
722. 1
477.0
83 1207 0186 8
104.0
99 977 e22 34 1
2.2
139.064 774.3
1,050.4
664.9
103.546.742.0
278.156.9
136.423.5
39.599.219.9
152.0
148.3105. 838.467.442.642.03.62.4
66! 165.4
232.897. 871.4
135.0
1 046 7491.8194 6297.3443 9111.0
3.61 12 5
741.7
495.4
92 1211 1192 2
108.6
105 976 829 12 6
.1
137.660 876.8
941.7
583.7
90 640.237.1
247. 350.7
120 821 2
245 834 085.016 8
143.8
133 2100.235.464 833.032 010 610.6
2.658.155 5
211. 699 379 4
112 3
931 1451 8183 0268 8383 2
96 1
10. 66 54 1
729.2
469 5
85 0201 2183 3
114.0
104 680 923 79 4
.7
145.172 379, 7
948. 9
594.4
91 440.637.5
251.151.1
122 621 5
251 935 187 217 1
137.9
132.3101. 435.865 730.930 55 55.4
2.759.256 5
214.099 478.9
114 6
943 4458 0184 7273 3391 993 4
5.53 71 9
725.1
472 2
85 4201 5185 2
107.4
102 880 921 94 6
.8
144. 671 573 1
958. 0
604.1
90 237.8OQ rr
257.851.1
128 021. 8
256 135.388.717 7
132.9
131.4100.235.564.831.230 61 51 4
3.661 557 9
217.399 778 9
117 6
956 4462 3184 4277 8400 693 5
1.51 0
5
720.4
474 1
83 8204 4185 9
102. 0
101 078 822 2
9
1.9
142.469 073 fl
971.7
613.4
91 639 238.8
262.451.8
131 222 0
259 435 990 118 0
137.7
131.4101.736.165 629.729 46 36 2
3.963 059 2
216. 796 274 7
120 5
965 5467 3185 2282 1405 193 1
6.31 64 7
723.2
476 9
84 7206 0186 2
105.6
100 078 921 1
5 6
2.0
138.664 873 8
..,986.3
623.0
92 639 438 8
266 351 7
133 922 3
264 136 991 418 5
139 9
133 7103 436 267 230 329 96 26 1
4.063 759 8
219.595 273 8
124 3
980 2472 7187 4285 2412 295 3
6.26 0
2
726.8
480 2
84 9207 7187 6
106. 2
101 379 322 04 9
2.9
137.562 974. fi
989.7
626.5
87 533 039 6
271 353 6
135 222 8
267 737 293 418 8
137 8
132 198 536.362 133 633 05 75 6
2.863 260 4
222.695 072 9
127 6
984 1465 6174 8290 7418 7
99 8
5.7n
6 6
718.0
476 5
78 9209 9187 8
102.2
97 473 623 94 8
1.9
137. 362 17K 1
1,023.4
648.0
99 844 941 0
273 455 1
135 123 0
274 838 095 819 3
143 9
139 0101 937 664 337 036 6
4 93 9
4.566 361 8
227.096 272 5
130 8
1 018 5482 2189 6292 6431 3105 0
4.93 71 2
731. 9
488 2
88 8210 0189 3
105. 0
101 275 325 93 8
2.7
136.160 275 Q
1,043.0
660.4
101 945 441 4
277 256 7
135 923 0
281 339 198 119 8
153 0
146 4105 038 366 741 440 9
6 65 1
.166 766 6
229. 596 371 2
133 3
1 036 4485 8191 0294 8441 1109 5
6.63 631
737.9
493 0
90 0211 2191 8
110.0
104 776 428 35 3
. -..7
135.759 77fi n
1,056.9
670.7
106 148 841 9
278 557 4
136 623 5
286 140 0
100 320 2
152 2
150 9106 338 767 644 543 91 3
— 2
.468 568 2
233.697 970 1
135 7
1 055 6496 2197 7298 5446 7112 7
1.31 02 3
742.5
497 4
94 2210 5192 8
107.3
106 676 430 1
7
.1
137.661 07fi 7
1,078.1
680.5
106 147 943 5
283 458 5
137 924 3
290 940 7
102 520 4
158 8
157 2109 838 871 047 346 71 7
8
-2.163 065 1
240.9100 771 9
140 2
1 076 4503 1200 1303 0456 3117 0
1.71 93 5
754. 5
503 2
95 4212 8195 0
112. 0
111 379 232 l
7
-1.8
141.162 378 8
1,109.1
696.1
111 049 946 5
288 359 4
140 324 6
296 741 2
104 221 0
168 1
167 7116 141 374 851 651 0
41
-4.670 775 3
249.4105 776 7
143 7
1 108 6517 2208 8308 4467 3124 2
.44
'o
766.5
511 0
98 6214 7197 7
116.6
116 382 234 2
3
-3. 3
142.262 87Q 4
1,139.4
713. 4
113 951 346 8
297 261 5
144 124 5
302 442 7
106 121 5
177 0
172 0119.242. 077.252.852 15.04.3
—5.270.075 2
254.1108.178.6
146 0
1 134 4532 1214 6317.5477 3125. 0
5.03 02 1
783. 9
520.9
100 7220 1200 0
122.0
118. 083 634 43 9
—2.8
143.963 780.3
1, 162. 2
728 1
118 454 748 0
301 462 3
145 625 7
308 343 9
108 221 9
181 0
175 3121 141 679 454 253 45 75 3
-3.475.078 4
256. 6106.275.2
150 4
1 156 6543 1220 7322 4487 5126 0
5.71 54 1
795.3
528. 7
104 4221 7202 6
123. 9
119.484.435.04.5
-..8
143. 661.681.9
T Revised. *> Preliminary. fRevised series. Estimates of national income and productand personal income have been revised back to 1969 (see p. 16 ff. of the July 1972 SURVEY);
revisions prior to May 1971 for personal income appear on pp. 25-26 of the July 1972 SURVEY.9 Includes data not shown separately.
s-i478-721 O - 72 - SI
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-2 SUEVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1969 | 1970 | 1971
Annual total
1969
IV
1970
I II III IV
1971
I II III IV
1972
I II III? IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.Quarterly Data Seasonally Adjusted at Annual RatesNational income totalf bil. $_.
Compensation of employees, total f do
Wages and salaries, total _ _ do__ _Private - - _ _ _ _ __doMilitary - _ _ _ _ d oGovernment civilian do
Supplements to wages and salaries __ __doProprietors' income, total 9 _ _ _ _ _ _ d o
Business and professional 9 doFarm do
Rental income of persons __do
Corporate profits and inventory valuation adjust-ment total bil. $
By broad industry groups:Financial institutions doNonfinancial corporations, total do __
Manufacturing, total _ _ __do_Nondurable goods industries doDurable goods industries _ _ do i_
Transportation, communication, and publicutilities- - -bil. $_.
All other industries - do
Corporate profits before tax, total doCorporate profits tax liability do _Corporate profits after tax _ _ _ __do
Dividends doUndistributed profits __do
Inventory valuation adjustment doNet interest - - - doDISPOSITION OF PERSONAL INCOME f
Quarterly Data Seasonally Adjusted at Annual RatesPersonal income total bil. $Less' Personal tax and nontax payments doEquals' Disposable personal income _ _ __doLess' Personal outlays© doEquals' Personal saving§ _ _ _ __do
NEW PLANT AND EQUIPMENTEXPENDITURES
Unadjusted quarterly or annual totals:4.11 industries bil. $
Manufacturing . _-doDurable goods industries 1 doNondurable goods industries ^ do
Nonmanufacturing doMining - - . _ ;. doRailroad - - do....Air transportation doOther transportation ..doPublic utilities . . . _.do_._
Electric doGas and other do
Commercial and other do
Seas. adj. qtrly. totals at annual rates:All industries . - ..do
Manufacturing doDurable goods industries If doNondurable goods industries f do
Nonmanufacturing doMining doRailroad doAir transportation doOther transportation doPublic utilities do
Electric doGas and other do
Communication _ doCommercial and other do
U.S. BALANCE OF INTERNATIONALPAYMENTSd"
Quarterly Data Are Seasonally Adjusted(Credits -H debits -)
Exports of goods and services (excl. transfers undermilitarv grants) mil $
Transfers under U.S. military agency sales con-tracts mil $
Receipts of income on U.S. investmentsabroad __mil. $.
Other services do_ .
Imports of goods and services. ., doero d. uuoo, ctujubie , . y ~. -
Payments of income on foreign investments in theU.S . .. mil. $_
Other services.— do _ _
Balance on goods and services, total do. . .Merchandise, adiusted. excl. militarv do
766.0
566.0
509.7405.6
19.085.156.367.250.516.722.6
79. 8
12.467.436.617.718.8
10.120.7
84.940.144.824.320.5
—5 130.5
750. 9116.5634.4596.238.2
75.5631.6815.9615.72
43.881.861.862.511.68
11.618.942.678.30
16.05
55, 50236,417
1,512
10, 5397,034
-53, 59-35, 796-4,856
-4, 564-8, 376
1,911621
798.6
603.8
541.9426.819.695.561. 966.849. 916.923.3
69.9
14.555.427.716.711.0
7.620. 1
74.334.140.224.815.4
—4 434. 8
806.3116. 7689.5634.754.9
. 79.7131.9515. 8016.15
47.761.891.783.031.23
13.1410.652.49
10.1016.59
62,87041, 963
1,478
11, 4268,004
-59,307-39, 799-4,852
-5, 167-9, 491
3,5632,164
855.7
644.1
573. 5449.7
19.4104.470.770.052.617.324.5
78.6
16.761.930.916.814.1
8.222.9
83.337.345.925.420.5
—4.738.5
861.4117.0744.4683.4
60.9
81. 2129.9914.1515.84
51.222.161.671.881.38
15. 3012.862.44
10.7718.05
66, 13342, 770
1,922
12, 8988, 543
-65,406-45, 459-4,816
-4, 903-10, 227
727-2,689
781. 0
585. 2
526.8418.619.688.558.467.249.817.422.9
73.5
12.461.132.817.115.7
9.319.0
80.538.442.124.717.4
-7.132.3
774.3118.2656.1611.644.6
21.469.124.594.53
12.34.49.55.64.44
3.232.61.62
2.394.60
77.8432.3915.8816.50
45.461.851.942.801.63
11.809.362.448.76
16.67
14,8009,871
336
2,7751,818
-14, 129-9, 381-1,251
-1,315-2, 182
671490
787.5
594. 3
534.9422.520.292.259.567. 749.718.023.0
69. 3
12.856.529.416.413.1
8.019.1
75.834.341.424.816.6
-6.433.2
785.7117.8667.9621.646.3
17.477.143.593.56
10.32.45.42.73.28
2.542.15.39
2.143.76
78.2232.4416.4016.05
45.781.921.742.941.37
12.149.772.379.14
16.52
15,37510,231
273
2, 9361,935
-14,477-9, 731-1, 180
-1, 344-2, 222
898500
796.7
600.7
539.5425.119.694.761.267.150.017.123.2
71.5
14.057.529.917.013.0
7.420.1
75.234.640.624.715.8
-3.734.2
806.1119.0687.2631.255.9
20.338.154.084.07
12.18.47.47.80.31
3.282.59.69
2.594.26
80.2232.4316.3216.11
47.791.841.882.881.12
12.7210.152.57
10.3816.98
15,76210,565
441
2,7791,977
-14, 795-9, 831-1, 259
-1,322-2, 383
967734
806.3
609.0
546.1430.019.496.762.866.650.116.523.4
72.0
15.057.028.917.211.7
7.820.3
76.635.441.224.916.3
-4.635.3
813.4114.3699.1641. 158.0
20.267.993.874.12
12. 27.46.46.74.30
3.582.79.78
2.564.16
81.8832.1515.7416.40
49.731.861.963.241.22
13.8411.342.50
10.6217.00
15,93210,705
329
2,8632,035
-14, 943-9, 968-1, 210
-1,284-2, 481
989737
804. 1
611. 2
547.2429.719.098.563.965.849.915.923.8
66.9
16. 150.822.616.46.2
7.220.9
69.632.237.424.712.7
-2.836.5
819. 8115.8704.0644.859.2
21.668.664.264.40
12.99.50.43.76.33
3.743.12.63
2.814.42
78. 6330.9814.9216.05
47.661.941.563.081.22
13.6811.202.48
10.2015.97
15,80510,462
436
2,8502,057
-15, 093-10, 269-1, 203
-1, 217-2, 404
712193
834.5
628.6
560.4439.319.8
101.368.268.151.316.823.9
76.6
16.659.930.916.614.3
7.821.2
81.338.043.225.517.7
—4.737.3
838.0112.3725. 7666.459.3
17.686.693.113.58
10.99.49.34.34.28
3.112.70.41
2.503.94
79. 3230. 4614.2116.25
48.86^2.041.461.291.33
14. 6412.162.48
10.7017.39
16,58011,017
510
2,9372,116
-15, 444-10, 728
1 175
-1, 139-2, 402
1,136289
851.4
639.6
569.6447.019.4
103.370.069.352.416.924.4
80.1
16.463.731.216.814.4
8.823.7
84.538. 645.825.420.4
—4.438.1
858.1115.2742. 9678. 864.1
20.607.553. 524.03
13.06.54.47.60.36
3.833.20.63
2.814.44
81.6130. 1214.0616.06
51.502.081.882.281 40
14.9112.612.30
11.2117. 72
16,67510,710
516
3,2972,152
-16, 639-11, 722-1,214
^1, 106—2, 597
36-1,012
860.8
648. 0
576. 5451.618. 8
106.071.570.753.117.624.8
78.3
17.061.330.116.913.3
8.522.6
84.137.546.625.521.0
-5.839.1
867.9117.5750. 4689.461.0
20.147.313.403.91
12.83.55.42.39.37
4.073.35.71
2.624.42
80.7529.1913.7615.43
51.562.231.721.681.48
15.8713.562.30
10.7317.85
17,13311,479
474
3,0152,165
-17,042-11, 951-1, 198
-1, 304--2,589
91-472
876.2
660.4
587.3460.919.4
107.073.071.853.818.125.0
79.4
16.662.731.216.914.3
7.623.9
83.235.348.025.222.7
—3 939.7
881.5123.0758.5699.259.3
22.798.444.124.32
14.35.59.45.56. 37
4.293,60,69
2,845.26
83.1830. 3514.6115.74
52.822.301.642.261.33
15.7413. 012.74
10. 4419.10
15,7489,584
423
3,6512,110
-16, 285-11, 058-1,230
-1, 356
-537-1,494
903.1
682.7
606.6475.820.8
110.076.173.354.319.125.2
81.8
16.565.235.417.717.7
7.822.0
' 88 238.849.526.023.5
—6 540.1
907.0136.5770. 5714.955.7
19. 386.613.293.32
12.77.58.48.50.32
3.633.19.44
2.724.55
86.7930.0915.0615. 02
56.702.422.101.961.48
16.9214.272.65li. 7120.10
17,76311,809
334
3,2492,371
-18,937-13,482-1,218
-1,387-2, 850
-1, 174-1,673
922.1
697.8
620.0487.120.5
112.477.873.254.418.724.2
86.1
17.568.537.017.619.4
8.822.8
91 640.151.526. 225.3
—5 540.9
922.1139.5782.6732.550.1
22.017.633.713.92
14.38.61.48.73.39
4.243.61.62
2.954.98
87. 1230.3714. 7715.60
56.752.381.882.891.53
16.6014.322.27
11.5919.88
?17,347*>11,463
*322
"3, 207*>2, 355
P -18,89P -13,39p-1,23
p-1,39"-2,87
p-1,54p-1,92
709.7
630. 2494.520.3
115.379.575.356.219.126.2
26.5
—6 141.7
939.5140.8798.7747. 451.3
122.568.154.004.15
14.41.60.43.58.37
4.503.62.84
27.92
190.3832.6216.2216.40
57.762.461.712.571.49
17.3614.602.75
232.19
1 25. 169.274.694. 58
15. 89.65.43.70.30
4.964.11.85
28.86
191.8433.2216.5816.65
58.612.521.562.591.10
18.3615, 033. 32
232.49
f Revised. » Preliminary. 1 Estimates (corrected for systematic biases) for July-Sept, and Oct.-Dee. 1972 based on expected capital expenditures of business. Expected ex-penditures for the year 1972 appear on p. 17 of the Sept. 1972 SURVEY. 2 includes com-munication, f See corresponding note on p. S-l. 9 Includes inventory valuationadjustment. © Personal outlays comprise personal consumption expenditures, interest
paid by consumers, and personal transfer payments to foreigners. § Personal saving isexcess of disposable income over personal outlays.
IfData for individual durable and nondurable goods industries components appear in theMar., June, Sept., and Dec. issues of the SURVEY. cfMore complete details appear in thequarterly reviews in the Mar., June, Sept., and Dec. issues of the SURVEY.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUKEENT BUSINESS S-3
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1969 1970 1971
Annual total
1969
III IV
1970
I II III IV
1971
I II III IV
1972
I'- ll I ' - ll!
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
U.S. BALANCE OF INTERNATIONALPAYMENTS— Con.
Quarterly Data Are Seasonally AdjustedUnilateral transactions (excl. military grants), net
mil. $..Balance on current account doLong-term capital, net:
U.S. Government _ do. _Private. do
Balance on current account and long-term capital. mil. $..
Nonliquid short-term private capital flows, netmil. $..
Allocation of special drawing rights (SDR) .do _Errors and omissions, net .do
Net liquidity balance. _ doLiquid private capital flows, net doOfficial reserve transactions balance doChanges in:
Liabilities to foreign official agencies:Nonliquid _ _ _ . . doLiquid. do
U.S. official reserve assets, net doLquiidity balance, excluding SDR do
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
-2,946-1,035
-1,926-50
-3,011
-640
-2,470
-6, 1228,8242,702
-998-517
-1, 187-6,958
1970
-3,207356
-2,018-1,398
-3,059
-482867
-1, 174
-3,851-5, 988-9, 839
-2757,6372,477
-4,741
1971
Annual
-3,574-2,847
-2,378-4, 149
-9,374
^2,420717
-10,927
-22,002-7,763
-29, 765
-19827,6152,348
-23, 989
-702-40
-708-379
-1,127
-5
-942
-2, 0741,578-496
-5151,697-686
-2, 458
-747-76
-192675
407
-204
203
406574980
-145-681-154
403
-765133
-462-922
-1,251
-247217
-51
-1, 332-1,461-2, 793
-4202, 949
264-1,684
-773194
-563-236
* -605
-56217
-410
-854-1,211-2,065
500760805
-722
1971
Aug. Sept. Oct. Nov. Dec.
-821168
-324-191
-347
42217
-677
-765-1, 104-1,869
-2451,530
584-1,231
-849-137
-670-49
-856
-221216
-37
-898-2, 212-3, 110
-1112,397
824-1,103
-791345
-702-922
-1,279
-534180
-944
-2, 577-2, 848-5, 425
-2094,952
682-3,238
-846-810
-584-1,605
-2,999
-315179
-2,586
-5,721-745
-6,466
-1685,975
659-5, 973
-946-855
-558-1,883
-3, 296
-883179
-5, 380
-9,380-2,551-11,931
-18210, 9191,194
-10,296
-992-1,529
-533260
-1,802
-688179
-2,018
-4, 329-1,619-5, 948
3615,774-187
-4, 487
-990-2,164
-343-1,077
-3,584
-538178850
-3,094-162
-3, 256
2632, 564
429-3, 722
-895-2,442
-134659
-1,917
412178
-1,077
-2,4041,541-863
-51,099-231
-2, 208
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.?
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE f
Seasonally adjusted, at annual rates:TotaF personal income bil $
Wage and salary disbursements, total do1 Commodity-producing industries, total.do____
Manufacturing _ _ _ do _Distributive industries __do
Service industries.. _ _doGovernment do
Other labor income doProprietors' income:
Business and professional doFarm _ do
Rental income o f persons... _ . _ _ _ _ _ d oDividends doPersonal interest income doTransfer payments. _ _ _ d o _ _Less personal contributions for social insurance
bil. $..
Total nonagri cultural income do
FARM INCOME AND MARKETINGS t
Cash receipts from farming, including Governmentpayments total J mil $
Farm marketings and CCC loans, total- ...doCrops doLivestock and products, total 9 -_ do__
Dairy products doMeat animals.. _ ..doPoultry and eggs do
Indexes of cash receipts from marketings and CCCloans, unadjusted: J
All commodities _ 1967=100Crops doLivestock and products - _ do
Indexes of volume of farm marketings, unadjusted: tAll commodities .. .1967=100
Crops _ _ _ _ _ _ do__.Li^estock and products do
INDUSTRIAL PRODUCTION rf
Federal Reserve Board Index of Quantity Output
Unadjusted, total index d* 1967=100By market groupings:
Final products ._ doConsumer goods do
Automotive products do. .Home goods and clothing. _ ...... .do
Equipment do
Materials do. ..
By industry groupings :Manufacturing do ._
Durable manufactures doNondurable manufactures. _ _ do
Mining and utilities _.. do
806.3
541.9201.0158.3129.2
96.7115.132. 1
49.916.9
23.324.865.879.5
28.0
782.8
54, 239
50, 52220, 90729, 6156,533
18,4974,305
118113122
108112104
» 106. 7
104.5110.399.9
104.796.3
107.7
105.2101. 5110.3
118.0
861 4
572.9206.1160.3138.2
105.0123.536.5
52.617.3
24. 525.469.693.6
31.2
837.2
56,208
53, 06322, 60930, 4546,815
19, 3904,000
124123126
111115107
*106. 8
104.7115.7119.5107.489.4
107.4
105. 299.4
113.5
118.9
869. 1
577.2205.5159.5139.3
106.3126.137.2
53.117.6
24.925.670.294.7
31.4
844.7
4 683
4,3271,7512,576
5511,634
372
122114127
110111109
105.8
105.5118.4102. 0110.287.5
103.1
103.594.3
116.8
123. 5
872 2
577.9206.9160 4140.2
106.8124.037.5
53.417.9
, 24. 925.570.596.1
31.5
847.6
4 944
4,8882 1532,735
5481,807
361
137140135
124136115
110.3
110.6124.2128.7113. 491.7
107.3
108. 8101. 0120. 0
122.8
874 8
579 9207.9161 3140.4
107.5124.037.8
53.618.0
24.925.570.596.2
31.6
850.0
6 477
6,4053 4382,967
5732,025
352
180224147
161212122
110.3
109.7123.0135. 9116. 391.1
108.2
109.7102.4120.2
114.2
879 4
583 4208.8161 7140.8
108.2125.538.0
53.818.1
25.025.570.696.8
31.8
854.5
6 306
6,2673 4942,773
5611,853
343
176227137
162225114
107.7
105.9117.2123.9109.790.1
107.6
106.899.8
116. 8
113.9
890 4
594 3213. 1165.1143.8
109. 4128.038.3
53.918.1
25.124.670.797.6
32.3
865.0
5 432
5,1572 5982! 559
5981,593
343
145169127
131167105
104.5
101.2109.9102. 5101.489.0
106.9
102. 797.1
110.9
118.1
898 9
602.6214.8165. 8145.5
111.2131.238.5
54.018.6
25.126.070.897.6
34.3
873.4
4 792
4, 7412 1212,620
5941,706
296
133138130
117137102
106.6
104.4115.7120.7108. 588 6
108.3
104.799.2
112.6
121.0
908 5
609 0217.7169 3148 1
111.6131.738.8
54.119.1
25.226.171.0
100.0
34.7
882.4
3 798
3,7811 1912* 590
5561,722
289
10677
128
867197
110. 3
107.7119 4126 5114.291 4
112.4
109. 0103. 8116.4
121.1
913 6
612 4220.1171 3148 0
112. 8131.539.1
54.719.5
25.326.071.3
100.1
34.8
887.1
3 848
3,8351 0652*770'614
1,801334
10869
137
8660
106
111.6
108.3119 2126.3114.193 1
114.5
110.5105.5117. 8
120.7
919 4
617 6221.7173 3149 4
113. 9132.539.5
54.919.1
25.526.172.099.7
35.0
893.4
3 619
3,498947
2 551601
1 629295
9862
126
7848
101
113.6
110.2122 4138.2118.793 2
116.6
112.7107. 5120.2
120.4
924 0
619 9222.5173 8149 4
114.7133.239.8
55.318.7
25.626. 372.7
100. 9
35.1
898.3
3 767
3,750920
2 830'621
1 877304
10560
140
8146
108
113 4
108 5119 6132 6113 293 1
117 7
112 7107.6120.0
120.0
922 9
624 0223.5175 0151 4
115.5133. 640.1
53.218.4
21.526. 373.4
101.3
35.3
897.5
3 985
3,9681 1522 816'596
1 857334
11275
139
9169
107
T 116 5
113.3T 126 0
133 5' 120 6
r 95 6
r 118 7
115 7109. 4
r 124. 9
r 122. 9
932 9
695 7222. 4174 5151 9
116.9' 134.5
40. 5
55.718.6
25.826.473.5
102.2
35.5
907.3
7 303
4,3981 6792 719
5821,803
316
124109134
102102102
' 109 0
r 106. 2r 116 8'92 8' 106. 8'91 3
r 109 2
r 106 9' 100. 0' 116. 9
' 124. 6
r 940 0
r 630 6225. 2
r 176 6' 152 3
'•117.3r 135. 8
40.8
'56.3'19.1
'26.o26.6
'73.4' 102. 8
'35.8
* 914. 0
5 423
4,8101 8572 953
5841,972
376
135121146
109109110
T 114. 6
'111.7' 124 6' 106. 5' 118. 7'93 7
r 115. 5
' 113. 0' 104. 9' 124. 8
' 126. 5
945 7
634 8227.2178 4152 6
118.2136.741.1
56.719.5
26.526.573.3
103.3
36.0
919.4
5,4202 3463 074
5852,082
387
152153152
118127111
118 8
117.1131 0136 6121.597 6
118.6
117.6110.6127.7
128.0
beginning 1969; monthly data prior to May 1971 appear in the Farm Income Situation, July1972, available from the U.S. Dept. of Agriculture, Economic Research Service. 9 In-cludes data for items not shown separately.
cfSeries revised back to 1970 to reflect new seasonal adjustment factors and productionlevels. Monthly revisions for seasonally adjusted data are available upon request; those forunadjusted data will be shown later.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-4 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1970 1971 P
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept. v
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION!— Continued
Federal Reserve Index of Quantity Output— Con.
Seasonally adjusted total index t 1967=100..B y market groupings: J
Products total doFinal products do
Consumer goods do .
Durable consumer goods doAutomotive products do
Autos -do ..-Auto parts and allied goods do
Home goods 9 doAppliances, TV, and radios doCarpeting and furniture do
Nondurable consumer goods do ...Clothing doConsumer staples . do
Consumer foods and tobacco. . .doNonfood staples -do
Equipment _do__.~.Business equipment do _ _
Industrial equipment 9 ..doBuilding an d mining equipment.doManufacturing equipment do
Commercial transit, farm eq 9 - doC ommercial equipment doTransit equipment do
Defense and space equipment do
Intermediate products do . .Construction products - doMisc intermediate products do
Materials - -- doDurable goods materials 9 do
Consumer durable parts doEquipment parts do
Nondurable goods materials 9 - - doTextile, paper, and chem. materials, .do
Fuel and power, industrial do
By industry groupings :JManufacturing total do
D urable manufactures doPrimary and fabricated metals do
Primary metals - ..doIron and steel ..do
Fabricated metal products do
Machinery and allied goods 9 --doMachinery do
Nonelectrical machinery doElectrical machinery . do
Transportation equipment . doMotor vehicles and parts doAerospace and misc. trans, eq do
Instruments -- do
Lumber clay and glass do
Clav glass and stone products do
Furniture and miscellaneous do....
Miscellaneous manufactures ... .do
Nondurable manufactures doTextiles apparel and leather do
Textile mill products -do
Leather products do
Paper and printing doPaDer and products doPrinting and publishing do
Chemicals, petroleum, and rubber. ..doChemicals and products doPetroleum products doRubber and plastics products do
Foods and tobacco. ...doFoods .--- do
Mining and utilities doMining - -do
M0tal mining doStone and earth minerals doCoal, oil and gas do
Coal doOil and gas extraction do
Crude oil -do
Utilities -- doElectric --- - doGas.. - ----- do
106.7
106.0104.5110.3
104.899.986.6
125.6
107.6103.4108.4
112.4101.3115.4110.6120.4
96.3101.498.495.991.9
104.8112.694.4
87.9
111.7110.0113.0
107.7103.396.594.7
112. 5113. 0116.7
105. 2101.5108.1106.9105.3109.8109.4
97. 6100.3100.5100.1
90.496.984.1
110.8
106.4106.3106.4
108.899.4
117.3
110.6100.2106.397.890.8
107.8113.3104. 1
118.2120.3112.6115.7
110.9111.7100.0
118.0109.7131.398.8
109. 2105.7109.7109.4
128. 3130.6121.0
106. 8
106.4104.7115.7
115.1119.5108.3140. 9
112.6111.5117.2
116. 0101.4119.8113.6126.3
89.496.892.992.982.6
101.2110.089.4
77.1
112.6112.6112.6
107.4101.7104.287.1
114.1116.6116.3
105.299.4
104.0100.996.6
108.7107.5
94.996.294.398.3
92.9114.172.5
108.5
111.5113.9110.0
111.7102. 1120.5
113.6100.7108.697.887.4
107.8115.8102.5
124.8126.4115.7126.0
113.7114. 997.7
118.9107.0121.493.2
107,699.8
108.9108.3
133.9138. 1119. 8
105.6
106.1104.8115.9
117.3122.3108.5148.9
114.4112.4121.7
115.4100.3119.4112.8126.4
89.597.592.896.481.5
102.8111.190.7
76.3
110.9109.3112.1
104.896.5
105.683.1
114.7117. 7117.4
104. 297.494.081.266.5
106.9108.2
95.496.795.597.9
93.9116.372.3
109.1
,111.0-113.9109.3
114.0105. 2122.0
114.0100.8110. 597.484.2
108,1117.5101.7
126.3127.7115.8129.9
, 113.1114.198,2
118. 6106.3104.8
91.4108.7110.7108.4107. 0
134.1138.6119.6
107.1
107.0105.5116.7
117.1122.9108.0151.5
113.8110.4121.9
116.5103.6119.9114.1126.1
89.898.293.296.682.1
104.0113. 190.8
76.0
112.3111.5112.9
107.3100.6103.387.1
114.7118. 8119.5
105.799.399.593.885.9
108.9105.9
96.297.997.099.0
94.2115.873.4
110.5
112.1114.8110.6
114.2105.3122.2
115.1102.5111.099.587.7
108.2116.2102.9
127.5129.9113.7129.6
114.2115.2100.3
118.3105.9109.790.1
107.9111.0107.4104.7
134.0138.6118.7
106.8
107.0105.4116.6
116.8121.9107.8149. 0
113. 9109.7120. 7
116.6103.2120.2113.9126.7
89.898. 293.595.583.1
103.6112.291.1
75.7
113.2112.8113.5
106.6102. 2104.188.1
115.0119.098.7
106.1100.1101.396.189.4
108.3107.1
96.698.397.499.3
94.5116.073.7
111.2
113.2118.2110.1
114.0104.5122.6
114.7102.3110.1100.087.4
109.4116.9104.3
126.6128.4115.7129. 1
113.3114.498.5
114.397.7
117.191.796.629.5
107.1105.4
135.2140.6117.6
107.4
107.9106. 1118.0
116.0119. 7109.2140.1
113.8110.5122.2
118.8103.7122.8117.2128.6
89.697.994.295.283.5
102.1110.289.4
75.. 9
114.3114.2114.4
106.5100.5101.887.3
115. 9121.5104.6
106.099.198.891.481.9
109.9107. 1
95.997.895.999.9
93.4115.772.0
110.4
113. 7119.4110.4
113. 3105.4120.5
115.9101.8110.299.883.3
110.5119. 2104.5
127.9130.8116.0127.7
115.8117.198.2
117.4102.5136.793.4
100.455.7
107.4105.0
136.0141.9116.7
108.1
108.0106.2118.0
117.4119.9109,4140.0
116.0116.9120.4
118.4105.0121.9115.5128.7
89.698.094.294.083.8
102.4109.493.1
75.6
114.9115.2114.5
108.4101. 6104.087.9
116.7123.0117.6
106.299.5
100.694.385.5
113.1107.6
95.697.994.8
101.3
92.7116.170.1
109.3
114.8121.7110.7
114.3103.8123.9
116.0103.1112.699.787.1
110.7119.8104.7
127. 9130.4118.3126.6
115.0116. 693.8
120.1107.8137.792.7
107.1112.4106.3104.2
135.8141.9115.5
108.7
108.4106.4118.5
117.5116.6102.8143. 4
118. 1123.8121.7
119.0105.8122.5115.4129. 8
89.598.494.198.082.4
103.3109.195.1
74.8
115.9115.7116.1
109.2103.5105.188.8
116. 0120.8117.4
107. 1100.4104.0102.495.2
116.0106.0
95.798.595.1
102.2
92.0114,070.8
111.3
115.5122.0111.6
115.0104.0125.1
116.8102.0108.999.889.6
111.3122.2103.9
129.8131.2119.3133.3
115.7116.5103.8
120. 6107.3128.993.8
107.1106.3107.2104.0
137.4141.2124. 7
110.0
109. 5107.6119.6
120. 3119.5106.4144. 5
120.7123.1126. 1
119.3102. 7123.7115. 5132.4
90.999.995.499.683.4
105.1111.994.7
76.0
117.0115. 8118.0
110. 8105. 8107. 190.7
117. 0121.5117.7
108.5102.1105. 4102.695.9
114.4108.6
97.399.596.2
103.2
94.7117.772.7
114.5
118.0119.7117.0
117.3108.4125.4
117.8101.1107.0100.186.9
112.6122.8105.8
132.6135.1118.7135. 0
115.9116.9102.5
121.6107.2133.793.5
106.599.6
107.6104.2
139.7144.4123. 8
111.2
110.1108. 2119.6
118. 9119.3104.6147.5
118.7115.1127.1
119.9105. 0123.9116.3132.0
92.4101.396.3
101.284.5
107.0114.795.4
77. 6
117.3115.9118.5
113.1107.8110.291.0
119.8125.0118.9
109.7103.4107.4105.198.8
116.6110.1
98.4100.397.6
103.3
95.9118.873.9
114.2
118.1119. 6117.2
118.4108.7127.2
118.8103. 7110.9102.785.4
112.6122.5105.9
133.4135.7117.9138.1
116.3117.5101.9
122.3108.5131.092.7
108.6104.1109.3106.9
139. 7144.8
112.8
111.4109.8122.0
125.9128.9114.3157.0
124.2132.2131.3
120.5105.0124.6116. 8132.8
92.7101.395.798.484.9
107.6114.197.0
78.5
117.3116.5118.0
115.0110.4113.895.4
120.6125.9121.6
111. 8105.8110.4110. 2105. 5118. 6110.8
101. 1,102. 6
98.6107.1
100.4125.676.1
116. 1
118.1119.9117. 1
119. 9111.7127.4
120. 3106. 1113.5103.394.4
112.3124.4104.2
136. 1137.9117.0144.7
117. 6118.6103.9
122.9109.0122.292.6
110.0112.9109.6108.1
140.2145.6
113.2
112.1110.2122.2
125.3127.4111.3158.3
124.3129.3132. 0
121.0106.2124.9117.2133. 1
93.4102.596.397.085.9
109.6116.498.9
78.2
119.3118. 0120.4
115.6111.1112. 095.3
121.3127.1120. 7
112.3106.3112.7113.5108.3121.6111.9
101.0103.0100.4105.9
98.9122.676.1
117. 3
118.2119.1117.5
120.6110.7129.6
120.8104.9112.8102.889.2
114. 1127.2105.3
137. 5138. 9119. 5146.5
117.1118. 599.1
122.6107.9110.791.7
109.9105.0110.7109. 5
141.1147. 1
113.4
' 112. 0' 110. 1r 122. 1
' 128. 0125.7108.2
r 159. 3
r 126.1125. 9134.0
' 120. 6r 106. 8r 124. 3' 116. 8r 132. 2
93.3r 102. 4
97.298.386.7
' 108. 4116.7"•94.4
' 78. 3
' 119. 1' 117. 8r 120. 2
' 116. 1r 111.1' 112. 0' 95. 3122.5
' 128. 5121.7
r 112. 6106.8
' 112. 1'111.9' 104. 9' 122. 5
112. 3
r 101. 6' 104. 8' 101. 8' 108. 0
97.4'119.3
76.4119.3
' 119. 0121. 8
r 117. 4
122.1' 112. 8' 130. 6
121.3' 105. 9r 113. 9
103.0' 92. 2
' 115. 1126.7
* 107. 3
' 137. 1r 139. 5
117.3r- 145. 0
117.6119.396.4
122.7r 108. 2r 102. 9
'97.4' 110. 5' 109. 1
110.7108.9
' 140. 9r 146. 8
113. 7
r 112. 2110.1
r 122. 1
r 124.7' 124. 7
108.2••156. 9
124. 7r 121. 6' 132. 6
r 121. 0107. 2
r 124. 6' 115. 9' 133. 8
r 93. 5' 102. 3
r 97. 0
'"100.1' 87. 1
' 108. 3' 117. 3'92.4
'78.9
' 119. 8' 118. 0' 121. 1
' 116. 3' 110. 6' 110. 9
96.8' 123. 4' 130. 6' 123. 5
113. 0' 107. 5'. 113. 4'113.7' 107. 7' 119. 1' 113. 2
' 102. 1' 105. 1' 102. 9' 107. 5
98.2' 121. 3'75.9
' 119. 8
' 119. 0' 121. 5' 117. 6
' 123. 7' 115. 5' 131. 0
'121.0' 104. 4' 112. 8
101.3' 90. 2
' 116. 2' 129. 6' 107. 2
' 137. 6'139.6' 119. 5'144.3
' 116. 4' 117. 9
96.7
' 123. 0' 107. 3' 102. 4'91.4
' 110. 3' 109. 1' 110. 5' 107. 4
' 142. 4' 148. 4
'114.5
' 112. 4' 110. 6' 121. 9
' 125. 3' 126. 0
109.5' 157. 9
' 125. 1120.4136. 2
' 120. 5
' 124. 1' 116. 0' 132. 9
94.6' 103. 4'98.1
' 101. 5'88.0
109. 4' 118. 5'92.8
'79.9
' 119. 4' 117. 2
121. 3
' 117. 9' 113. 7' 118. 9' 98. 4
'123.0' 130. 7
123.1
' 113. 4' 107. 8' 113. 0' 112. 1' 105. 4
123. 3'113.8
' 102. 7' 105. 7' 103. 8' 107. 9
'98.4' 121. 8'75.9
' 119. 9
' 119. 8123.0117.9
' 124. 9116.1132.8
' 121. 5' 105. 9
115.7
84.1
' 115. 0127.2
'106.6
' 139. 4' 142. 0
120.2146.0
'116.3' 117. 7
' 122. 1' 106. 5
117.691.8
' 107. 6'97.2
' 109. 3105.6
' 141. 7' 147. 1
115. 2
113.0111. 2122. 5
124.2126.1109.6157. 7
123.2
121. 8
125. 5117.2134.2
95.6104.799.0
102. 989.0
111.2120.993.5
80.4
119. 3117.5
118. 6114.6118.398.6
123.7131. 6123.7
114.1108.3114.1113.8108.3
114. 5
103.1106.0104.9107.1
99.2121.477.7 .
120. 0
120.3
124.1
122.5107.2
115. 1
106.8
140.6143.2
117.2118.5
123.3108. 1
109. 2104.7109. 9
,142.4147.8
9 Includes data for items not shown separately. t Revised data for 1966-71 for the indi-cated series appear on pp. 24-25 of the Oct. 1972 SURVEY. See also notes marked "J" on pp. S-llandS-12.
•} See note marked "&" on p. S-3.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUKRENT BUSINESS S-5
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
^1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
GENERAL BUSINESS INDICATORS—ContinuedBUSINESS SALES §
Mfg. and trade sales (unadj.), total f _ mil. $_.
Mfg. and trade sales (seas, adj.), total t - -- do. _
Manufacturing, total:}: _ _ _ _ _ _ _ doDurable goods industries .... _ _ _ d o _ _Nondurable goods industries _ _ _ do
Retail trade, total t - - - - - - - doDurable goods stores _ _ _ doNOD durable goods stores. _ ~ _ _ _ _ do
Merchant wholesalers, total _ _ _ _ _ _ d o _ _ _Durable goods establishments _doNondurable goods establishments do
BUSINESS INVENTORIES §
Mfg. and trade inventories, book value, end of yearor month (unadj.), total f mil. $._
Mfg. and trade inventories, book value, end of yearor month (seas, adj.) .total t -- mil. $_.
Manufacturing, totalf do_Durable goods in dus t r ies_________ ^doNondurable goods industries. do
Retail trade, total f do.__.Durable goods stores __ _ _ doNondurable goods stores _ _ _ - _ do_ .
Merchant wholesalers, total doDurable goods establishments ... ___ _ _ _ d o _Non durable goods establishments _ _ do
BUSINESS INVENTORY-SALES RATIOS
Manufacturing and trade, total t _ . ratio
Manufacturing, total t_ - doDurable goods industries do
Materials and supplies doWork in process. _ _ _ _ _ _ _ do _Finished goods - do
Nondurable goods industries doMaterials and supplies doWork in process doFinished goods do
Retail trade, total t doDurable goods stores doNondurable goods stores do
Merchant wholesalers, total.- ... doDurable goods establishments doNondurable goods establishments d o _ _ _ _
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS
Manufacturers' export sales:Durable goods industries:
Unadjusted, total.. mil. $Seasonally adj., total do
Shipments (not seas. adj.), totalf do
Durable goods industries, total 9 J ... doStone, clay, and glass products doPrimary metals do
Blast furnaces, steel mills doNonferrous metals do
Fabricated metal products d o _ _ _ _Machinery, except electrical doElectrical machinery doTransportation equipment do
Motor vehicles and parts... doInstruments and related products do
N endurable goods industries, total 9 _ doFood and kindred products doTobacco products doTextile mill products do
Paper and allied products. _ _ doChemicals and allied products doPetroleum and coal products do .___Rubber and plastics products do
Shipments (seas, adj.), total:}: .- . doBy industry group:
Durable goods industries, total 9 1 __doStone, clay, and glass products doPrimary metals do
Blast furnaces, steel mills _ doNonferrcus metals do
Fabricated metal products ..__ __ doMachinery except electrical doElectrical machinery. . " doTransportation equipment. _ _ _ do
Motor vehicles and parts doInstruments and related products do
1, 252, 88
11,252,88
1630,715336, 729293, 986
J 375, 527114,288261,239
1 246, 643111, 778134, 865
' 173, 435
'174,942
101,71266,82934, 883
* 46, 62620, 34526,28126, 60415, 56511, 039
1.64
1.902.33.67
1.07.59
1.40.5321
.66
1, 47•'2.16'1.17
1.231.61.92
20, 122
630, 715
336, 72916, 87453, 24225, 03221, 423
39, 22055, 85948, 13775, 45142, 53711, 724
293, 98697,6485,346
22, 338
24, 65949, 25324, 84615,388
1,343,16
11,343,16
1666,959358, 637308, 322
i 408,850131, 814277, 036
1 267, 357122, 420144, 937
'181,010
' 182, 842
101, 66565, 87435, 791
T 52, 26123,80828, 45328, 91617, 25411, 662
'1.60
1.832.22.65.99.58
1.37.51.21.65
'1.47'2.06'1.19
1.231.60.92
21, 583
666,959
358,63719, 76655, 08326, 65621,312
38,47858, 83050, 04184,60354,78611, 665
308, 322101, 737
5,77624, 472
25, 36252, 17025, 77716, 249
111,241
113,910
56,65030,83525, 815
34,65511,29823,357
22,60510,47112,134
' 178,283
' 180,298
101,28066, 09335, 187
'51,22323, 44127, 782
27,79516,52611,269
'1.58
1.792.14.64.95.55
1.36.51.20.65
'• '1.48'2.07'1.19
1.231.58.93
1,7141,893
54,253
28,1291,8333,5881,3631,633
3,3364, 6214, 1035,9763,666
971
26, 1248,428
5062,129
2,2164,3902,1361,395
56,650
30,8351,7233,7761,4101,735
3,3114,9374,1638,4426,100
966
115,719
113,450
55,68229,79925, 883
35,21911, 83323,386
22, 54910, 42512, 124
' 179,70
' 181,33
101,41366, 11735, 296
'52,10424. 14327', 961
27,81416, 66611, 148
'1.60
1.822.22.65.99.58
1.36.51.20.65
' 1. 48'2.04'1.20
1.231.60.92
1, 9511,979
58,199
31,0291,8133,9641,5741,760
3,4335, 2724, 4897,2484,9001,073
27, 1708,920
5122,181
2,2264,7392,1601,420
55,682
29,7991,6724,0091,6601,731
3,2615,1484, 1817,0724,716
986
116,477
113,191
55,94330,03325, 910
34,96411, 69523, 269
22, 28410, 39811, 886
' 182,13
' 181,74
101,73666, 02535, 711
'52,08324, 03428, 049
27,92816,78611, 142
'1.61
1.822.20.64.98.57
1.38.52.20.66
'1.49'2.06'1.21
1.251.61.94
1,7931,785
58,031
30,9831,8274,1491,7361,774
3,3175,0434,4137,4825,0871,039
27, 0488,854
4932,358
2,1964,4272,1931,445
55,943
30,0331,7064,2631,8891,763
3,2105,1014,1927,0704,647
999
116,683
115,757
57,44430,79226, 652
35, 57411, 88523, 689
22,73910, 58312, 156
.' 183,396
' 181,852
101,69965,87735, 822
'51,91623, 87228, 044
28, 23716, 89911, 338
'1.57
1.772.14.62.96.56
1.34,51.20.64
'1.46•'2.01'1.18
1.241.60.93
1,8531,819
57,309
30,6791,7444, 3371,959•1,780
3,2394,8014,3807,6415,059
999
26, 6308,932
498. 2, 158
2, 1444, 3262,1571,342
57,444
30,7921,7754,5652,1461, 805
3,2775,0574,2587,2354,726
977
121,547
115,630
57,74030,91326, 827
34, 89611, 33423, 562
22, 99410, 62912, 365
' 181,01
' 182,84
101,66565, 87435, 791
'52,26123, 80828, 45328, 91617, 25411, 662
'1.58
1.762.13.62,96.55
1.33.50.20.63
' 1. 50' 2. 10'1.21
•1.261.62.94
2,0831,887
55,321
29,6961,5754,2091,9591,693
3,0885,1274,5446,8224,151
990
25, 6258,883
4792,077
2,0774,0262,1491,314
57,740
30,9131,7634,6102,1891,817
3,1965,, 2804,4986, 8444,393
985
107,392
118,426
59,18931,96527,224
34, 88611, 47523, 411
24, 35111, 22513, 126
' 181,86
' 183,30
101,79666, 18735, 609
'52,45823, 79028,66829, 04917, 287
x 11, 762
'1.55
1.722.07.60.93.54
1.31.50.20.61
'1.50' 2. 07'1.22
1.19.1.54.90
1,7881,900
55,032
29,5351, 6284,5652,1571, 796
2,9504,9294,2746,9834, 733
903
25, 4978,449
4871,994
2,2164,3812,1861,346
59,189
31,9651, 8804,7042,1921,871
3,2415,2744,7847, 3814,7691,004
112,864
118,077
59,19932,04127, 158
35,34511,45723,888
23,53310,69612,837
' 183,488
' 183,826
102,16166, 42235, 739
'52,48423, 67928, 805
29,18117,35411,827
' 1.56
1.732.07.60.94.54
1.32.50.20.62
'1.48'2.07' 1.21
1.241.62.92
1, 9672,029
59,865
32,6111,7804,8802,3231,895
3,2525,4574,6117,9745,338
947
27, 2548, 874
4932,185
2,3524,6222,2591,444
59,199
32,0411,9304,7982,3051,851
3,2525,1914,6227,5124,895
967
123,538
120,669
60,33532,68327,652
36,45012, 08724, 363
23, 88411, 15712, 727
' 185,46
' 184,263
102,45066, 60435, 846
'52,63923, 67428,96529, 17417, 35711,816
'1.53
1.702.04.58.92.53
1.30.49.20.61
'1.44'1.96'1.19
1.221.56.93
2,3032,158
62,380
34,2851,9285,2112,5301,976
3,3725,7884,7938,1905,3901,002
28, 0959,117
5032,415
2,3934, 7812,2601,537
60,335
32,6831,9694,9332, 3801, 882 '
3,3355,3284,6957,5374,908
995
120,441
121,676
61,21933,58127, 638
36,28711,96524,322
24,17011,24612,924
' 186,89
' 184,81
102,42866,57535, 853
'52,81423, 74029, 07429,57417,54212,032
'1.52
1.671.98.56.90.52
1.30.49.20.61
'1.46'1.98'1.20
1. 221.56.93
1,9551,918
62,016
34,3761,9685,4182,6362,065
3,4815,7644,6138,1205,4261,016
27, 6408, 832
4892,277
2,3494,9382,3211,540
61,219
33,5811,9295,0322,3971,957
3,4475,5494,7837,8695,1931, 044
125,479
122,793
61,41333,70527,708
37,12012,27224,848
24,26011,25613,004
' 187,745
' 185,953
102,82267,03535,787
'53,40223, 91529, 48729,72917,73311,996
'1.51
1.671.99.56.91.52
1.29.49.19.61
'1.44'1.95' 1. 19
1.231.58.92
2,1462,063
62,048
34,6112,0795,3132,5942, 005
3,4635, 6814,5218, 4075,4891, 014
27, 4379,050
5202, 244
2,3324, 8192,2331,500
61,413
33,7052,0174,9302,3581,872
3,4445, 5644,6707, 9385,0741,028
129,292
122,263
61,23133,12928,102
36,80212,24624,556
24,23011,24812,982
'187,014
' 186,43
103,50567, 42736,078
'53,29323, 66529, 628
29,64117,78011,861
' 1. 52
1.692.04.57.94.53
1.28.49.19.61
'1.45'1.93'1.21
1.221.58.91
2,1512,097
65,193
36,0472,1545,4912,6412,085
3,6476,1044,9528,2915,5301,068
29,1469, 575
5472,581
2,4735,0142,3631,548
61,231
33,1291,9714,9602,3061,934
3,3975,5974,6047,4874,793
. 992
rl!6,810
r!23, 605
61, 86934, 05927,810
r 37, 342' 12, 468'24,874
'24,394'11,326'13,068
' 186,141
' 186,884
103, 88867, 64536,243
'52,94023, 19429, 746
'30,056'18,182'•11,874
'1.51
1.681.99.57.90.52
' 1. 30.49.20.62
'1.42'1.86'1.20
1.231.61.91
1,7381,951
56,358
29,8951,9734,7002, 2681, 800
3, 1135,0834,2995,9773, 410
989
26, 4638,893
5192,039
2,2274,3852,3481,319
61, 869
34, 0591, 9885, 1032,3702,047
3,3235,5644,6798,3715,5601,079
125, 779
126, 189
63, 18634, 83528, 351
37, 84312,80025, 043
25,16011, 79213, 368
185, 760
187, 933
104, 56968, 12736, 442
53, 10723, 03730, 070
30, 25718, 04312, 214
1.49
1.651.98.55.90.51
1.29.48.19.61
1.401.801.20
1.201.53.91
2,0442,260
61,231r 32, 590
2,268* 5, 135
2,4751,908
3, 5065, 2444,697
r 6, 3283, 7271,048
28, 6049, 269
5402,425
2,4044, 8652,3991, 506
63,186
34, 9442,134
r 5,3932,5622,027
3,4735, 6004,760
r 8, 3935, 5691,043
236,806
2 5, 553
2 8, 897
2 35, 055
2 5, 644
28,332
' Revised. 1 Based on data not seasonally adjusted. 2 Advance estimate; total mfrs.shipments for Aug. 1972 do not reflect revisions for selected components. §The term "busi-ness" here includes only manufacturing and trade; business inventories as shown on p. S-lcover data for all types of producers, both farm and nonfarm. Unadjusted data for manufactur-
ing are shown below and on p. S-6; those for wholesale and retail trade on pp. S-ll and S-12Tbee corresponding note 011 p. S-4 and ncte marked "t" on pp S-ll and S-12 ISee
corresponding note on p. S-7. 9 Includes data for items not shown separately
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-6 SUEVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May | June July Aug. Sept,
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS!— Continued
Shipments (seas. adj. )$— ContinuedBy industry group:
Nondurable goods industries total 9 mil. $Food and kindred products do
Textile mill products doPaper and allied products do _Chemicals and allied products doPetroleum and coal products doRubber and plastics products do
By market category:!Home goods and apparel doConsumer staples doEquipment and defense prod excl auto doAutomotive equipment doConstruction materials and supplies doOther materials and supplies do _
Supplementary series:!Household durables doCapital goods industries c? - do.
Nondefense - _ _ _ d o _Defense - do
Inventories, end of year or month:!Book value (unadjusted) total do
Durable goods industries total doNondurable goods industries, total do
By industry group:Durable goods industries total 9 do
Stone clay and glass products doPrimary metals do
Blast furnaces steel mills doNonferrous metals do
Fabricated metal products doMachinery except electrical doElectrical machinery do
Motor vehicles and parts do.Instrument5' and related products do
By stage of fabrication:!Materials and supplies 9 do
Primary metals doMachinery (elec and nonelec ) doTransportation equipment do
Work in process 9 _ _ doPrimary metals doMachinery (elec. and nonelec.) doTransportation equipment do.. _
Finished goods 9 doPrimary metals doMachinery (elec and nonelec ) doTransportation equipment do
Nondurable goods industries, total 9 doFood and kindred products doTobacco products doTextile mill products doPaper and allied products. _doChemicals and allied products __do_Petroleum and coal products doRubber and plastics products _ _ . do
By stage of fabrication:!Materials and supplies _'_ doWork in process doFinished goods do
By market category:!Home goods and apparel _ _ _ do. _Consumer staples _ doEquip, and defense prod., excl. auto doAutomotive equipment doConstruction materials and supplies___.doOther materials and supplies do
Supplementary series:!Household durables doCapital goods industriescf -do
Nondefense doDefense . • do
New orders, net (not seas, adj.), total! doDurable goods industries, total doNondurable goods industries, total . _ _ _ _ _ d o
New orders net (seas adi ) total! doBy industry group:
Durable goods industries, total 9 — doPrimary metals __do
Nonferrous metals do
Machinery except electrical doElectrical machinery doTransportation equipment do
Aircraft missiles and parts do
Nondurable goods industries, total _ _ _ _ d oIndustries with unfilled orders©....— -doIndustries without unfilled ordersl do
161,1711 126,3511 93, 6541 51, 357i 50, 733
1247,449
i 25, 5521111,522i 87, 636i 23, 886
101,37466, 42534, 949
101 712
66 8292,2939,1484 9513, 324
7,15613 98410, 15815 7754,2032 456
19,0633,2316 2203 363
30, 3323 217
10 86210, 895
17 4342 7007 0601 517
34 8838 7402 1063 5642,7646 7432 2522 142
13 1725 239
16 472
10 46613 33427 0265 4647 976
37 446
4 97230 56524 6235 942
619, 952325, 949294, 003
i 619,952
325, 94952, 41324 91021, 173
39 02454, 36647, 83068,30117, 120
294, 00376, 883
217, 120
i 67, 077i 131,852i 94,9351 62, 5731 57, 438
i 253,084
i 28, 9951111,652i 90, 049i 21, 603
101,29365, 44635, 847
101 665
65, 8742,2799,2054,9013,463
7, 26813, 4979,837
15 1793,9332,452
19, 1463,4956,2502,937
29, 6453 044
10 27110, 868
17, 0832 6666 8131 374
35, 7919 1692 2353 6222, 7726 6932 2662 151
13 5265 340
16 925
10 85113 97826, 3475 2408,178
37 071
4 97429 66424 3135 351
665, 678357, 214308, 464
i 665, 678
357, 21454, 53726 36221, 095
37,80558, 83750,39883, 80819, 273
308, 46480, 705
227, 759
25,8158,444
4852,0652,2054,3772,1331,419
5,57710,9817,8636,7514,980
20, 498
2,4469,2367,3841,852
100,87265, 99734,875
101,280
66, 0932,3108,9744,7293,385
7,66713, 7079,865
15 0824,1182,372
19, 7323,3846,3773,160
29, 2923,083
10, 36110,489
17, 0692 5076,8341,433
35, 1878 8802,0663,6192,7236,6842 3112,101
13 1895 265
16 733
10,6771360326,2625 3888,333
37 017
4 96129 59124 8374 754
54, 41728, 37126, 046
57, 122
31,3354,0381,7031,721
3,2245,0624,2908,4431,599
25, 7876,828
18, 959
25,8838,421
4922,0522,1524,4972,1431,403
5,58111,0108,0365,3634,899
20, 793
2,4429,406
, 7, 7661,640
100,48565, 65634, 829
101,413
66, 1172,3019,2294,9593,418
7,57613, 6659,857
15, 0003,9992,385
19,3673,4446,2862,969
29, 5433,157
10, 37610, 606
17, 2072,6286,8601,425
35, 2968,9362,1193,6292,7536,6532,3062,065
13, 2435,282
16 771
10,76613 75526,2515 2648,309
37,068
4 97729 60024,7184 882
57, 87730, 77427, 103
55,489
29, 6534,2561,9401,692
3,1195,0834,3556,8561,415
25, 8366,751
19, 085
25,9108,469
4992, 1342,1324,3592,1891,387
5,60911,0308,0945,2684,921
21, 021
2,4209,4457,7691,676
101,06265, 54435, 518
101,736
66, 0252,3049,2674,9573,463
7,57713, 6299,809
14, 8973,9382,417
19, 2083,4066,1963,005
29, 5643,159
10, 39010, 490
17, 2532,7026,8521, 402
35, 7119,1842, 1413,6662,7736,6692,3172,115
13, 3985,302
17 Oil
10,82513,84626,1565 2128,362
37,335
5,00129,53524,5524 983
58, 31731, 17627, 141
56,290
30,3214,3611,9851,765
3,0575,2464,4347,1521,785
25, 9696,914
19, 055
26,6528,853
4992,1042,1764,4542,1641,389
5,99911,4518,0585,3765,065
21, 495
2,6069,4897,7941,695
101,18365, 46135, 722
101,699
65, 8772,2849,1744,8653,473
7,37913, 6379,823
14, 9913,9382,452
19, 1183,4166,2452,963
29,6483,098
10, 39110, 619
17, 1112, 6606,8241,409
35, 8229, 1372,1703,7302,8176,6222,3102,117
13, 4625,322
17 038
10,93113,81026,2485 2148, 239
37,257
4 99029,59424,5095 085
57, 54230,85626, 686
57, 992
31, 2944,6082,2011,792
3,1735,2374,3697,3451,817
26, 6986,960
19, 738
26,8278,951
4842,1742,1844,4902,1401,421
6,04211,5678,2925, 0575,067
21, 715
2,7209,8018,2431,558
101,29365, 44635, 847
101,665
65, 8742, 2799,2054,9013,463
7,26813, 4979,837
15, 1793, 9332,452
19, 1463,4956,2502,937
29, 6453,044
10, 27110, 868
17, 0832,6666,8131,374
35,7919, 1692,2353,6222,7726,6932,2662,151
13,5265 340
16 925
10,85113 97826,3475 2408,178
37 071
4 97429664243135 351
55, 66330, 02625, 637
57,883
31, 0014,6622, 2501,791
3,1905,3024,3717,0001,829
26, 8827,076
19,806
27,2248,986'
5262, 1822, 3054,6432,2061,444
5,97011,6118,5315,4445,183
22, 450
2,65410,1498,3981,751
102,09866, 13435, 964
101,796
66, 1872,2579,3285, 0623, 439
7,34513, 4469,797
15, 2793,9492, 512
19, 1383,5716,2622, 755
29, 8633, 072
10,16711, 131
17, 1862,6856,8141,393
35,6099,0612,2563,6362,7436, 6672,2352,175
13, 5265 354
16 729
10,83013 91526,3935 2738,233
37 152
5 02329673242965 377
56, 62031, 04325, 577
59, 871
32, 5544,6442,1671,858
3,2615,3844,3298,3661,793
27, 3177,284
20, 033
27,1589,000
5252,2162,3184,5512,2221,420
5,93411,6638,2965,6385,252
22,416
2,6749,9468,1821,764
102,68566, 64536, 040
102,161
66, 4222,2539,3965,1233,432
7,37413, 4009,837
15, 4194,0392,538
19, 0983,6056,2292,797
30,0583,100
': 10, 19811, 232
17, 2662,6916,8101,390
35, 7399,1532,2403,6422,7346,6562,2152,165
13, 6595 363
16 717
10,89013 98628,5305 3588,202
37 195
4 95629 792243145 478
61, 03433,56827,466
59,792
32, 4664,8882 3911,835
3 3815, 2544, 5967,6321,490
27, 3267, 438
19, 888
27,6529,077
5192,3312,3174,6712,3181,478
6,05511,7648,6355,6695,370
22, 842
2,75810,1388,4041,734
102,85666, 89435, 962
102,450
66, 6042,2349,5065,1943,459
7,28913, 3569,872
15, 5534,0912,507
18,9793,5966,2132,805
30,2313,182
10, 19211, 367
17, 3942, 728
' 6,8231,381
35, 8469,1092,2403,7282,7476, 6912,1852, 199
13, 4685 555
16 823
10,95713 91626,5625 4198,172
37 424
5 00329 85824 2265 632
63, 05934, 83828, 221
61, 097
33,3285,2432 5472,004
3 4205,5744,6947,5121,891
27,7697,628
20, 141
27,6389,026
5012,3382,3424, 6802,3591,464
6, 23111,6628,8365,9465,389
23, 155
2,88310,3208, 5741,746
103,25167, 18136, 070
102,428
66, 5752, 2729,5535,2473,446
7,12213, 3909,888
15, 5364,0862,510
18,9393,5426,2372,810
30, 2403,257
10, 21011, 346
17, 3962,7546,8311,380
35, 8539 1112,2603,7802,7316,6482 1992,230
13, 4995 462
16 892
10,96013 90126,5235 4138,118
37513
5 02929 824242085 616
62, 49834, 78027, 718
61,685
34, 0054,9992 3431,994
3 4015,6544,8338,1112,081
27, 6807,533
20, 147
27, 7089,195
5112,2942,3434,6352,2481,456
6,24211,9189,0175,8355,496
22,905
2,91310,4488,6941,754
103,77767, 68236,095
102,822
67,0352,2609,6005,2843,456
7,18513, 3969,968
15, 7224,1282,539
18, 9953,5286,2502,814
30, 5623,282
10, 29011, 496
17, 4782 7906,8241,412
35, 7878,9872,2313,8172, 7496,6632 2082, 274
13, 4645 381
16 942
11, 11313 78026, 5975 4998,164
37 669
5 17129 93924 3265 613
61,72734, 25427, 473
62, 012
34, 3025,3392 6591,961
3 3735,6684,8417,8672,079
27, 7107,489
20,221
28, 1029,288
5052,4452,3654,7822,2811,442
6, 23511,9948,8905,5265,447
23, 139
2,84110,3898,7501,639
103,66967, 57036, 099
103,505
67, 4272,2829,6965,3703,463
7,22013, 4459,986
15, 9194,1402,486
18, 8043,5436,1802,728
30, 9823,329
10, 40211, 779
17, 6412,8246,8491,412
36, 0789,1562,2063,8122,7426, 6902,2132, 252
13, 6355,412
17 031
11, 28813 93126, 7445 5338,181
37 828
5 22030 11624 4765 640
66, 73337, 59229, 141
63,734
35,6135,4422 7651,950
3 5055,9234,7758,7813,300
28, 1217,668
20,453
27, 8109,210
5052,3372,3764,6932,3701, 426
6,12311,8028,9346,2545,442
23, 314
2,90210, 4808,6771,803
103,44667, 48535, 961
103, 888
67, 6452,2859,7095,3923,459
7,15713, 44210,04615, 9994,2132,541
19, 2563,4996,2082,789
30, 7863,354
10, 38411, 779
17,6032 8566,8961,431
36 2439 2792,1963, 8342,7436,7172 2282, 252
13, 5965 433
17 214
11 37214 07126, 8005 6338 174
37 838
5 27730 13824 453
K KQK
57 93031,45726, 473
62, 504
34,6645,4262 7111, 999
3 5015,7284,6218,4151, 901
27, 8407,616
20. 224
28, 3519,302
5172,3622,3904,9082,3881, 532
6,31412,0368,9016,3815,597
23, 957
' 3, 034r 10, 564
«• 8, 872' 1,692
104, 10668, 01836, 088
104, 569
68, 1272,3389,7265,3963,462
7,40113, 51310, 15416 0774,1792,560
19, 1613,4816,2262,607
31, 2553, 390
10, 47511, 988
17, 7112,8556,9661,482
36, 4429 4092,2343,8162,7546 7122 2612 207
13, 5755 488
17 379
11 43214 19426, 9695 6318 327
38 016
5 28630 30324 636
e Cfi7
61 900r 33, 23828 591
64, 300
'35,961' 5, 9673 0172,148
3 5165 8084,866
T 8, 5362 167
28, 4007,705
20. 695
2 2, 936210,3762 8, 66621,710
238,211
236,6032 5, 949
2 8, 939
r Revised. * Based on data not seasonally adjusted. 2 Advance estimate; total mfrs.new orders for Aug. 1972 do not reflect revisions for selected components. !See correspond-ing note on p. S-7. 9 Includes data for items not shown separately. tf Capital goodsindustries series is comparable to the previous producers' capital goods and defense products
(old series) categories. ©See corresponding note on p. S-7.IfFor these industries (food and kindred products, tobacco manufactures, apparel and
other textile products, petroleum and coal products, chemicals and allied products, andrubber and plastics products) sales are considered equal to new orders.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF GURKENT BUSINESS S-7
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS}— Continued
New orders, net (seas, adj.)}— ContinuedBy market category:
Home goods and apparel - - .mil. $__Consumer staples _ _ _ _ doEquip and defense prod., excl. auto doAutomotive equipment doConstruction materials and supplies _ do. __Other materials and supplies . _ .. do
Supplementary series:Household durables do _Capital goods industries^! do
Nondefense. _ doDefense. . do
Unfilled orders, end of year or month (unadjusted),total} . _ _ _ _ _ _ __mil. $..
Durable goods industries, total doNondur. goods ind. with unfilled orders© do
Unfilled orders, end of year or month (seasonallyadjusted), total} mil. $
By industry group:Durable goods industries, total 9 do
Primary metals _ doBlast furnaces, steel mills . do_ _.Nonferrou^ metals. do
Fabricated metal products _._doMachinery, except electrical, _ . do. _Electrical machinery ._ doTransportation equipment do
Aircraft, missiles, and parts do
Nondur. goods ind. with unfilled orders0-do
By market category:}Home goods, apparel, consumer staples . doEquip, and defense prod. , incl. auto _doConstruction materials and supplies doOther materials and supplies. do___
Supplementary series:}Household durables _ __ _ doCapital goods industries^. do
Nondefense. _ _ . doDefense _ ... .. do
BUSINESS INCORPORATIONS c?
New incorporations (50 States and Dist. Col.):Unadjusted© _ number..Seasonally adjusted© do
INDUSTRIAL AND COMMERCIALFAILURES^1
Failures, total. numberCommercial service doConstruction doManufacturing and mining. doRetail trade _ _ _ _ _ _ do _Wholesale trade . . i do
Liabilities (current), total _ thous. $__Commercial service _ doConstruction _ doManufacturing and mining doRetail trade___ doWholesale trade do
Failure annual rate (seasonally adjusted)No. per 10,000 concerns..
261,2042126,3612 88, 920250,430
2 50, 6052242,432
2 25, 6242103,275281,861221,414
73,75970, 8382,921
74, 322
71, 3616,5993,7341,961
10,12212, 62214, 06922, 10915, 437
2,961
. 1, 96838, 152
9,81024, 392
1,62744, 14226, 672
/ 17, 470
264,209
10, 7481,3921,6872,0354,650
984
1,887,754298,736231, 533817,841360, 603179, 041
243.8
267,2882131,8912 94, 865262,926256,8672251,841
2 29, 1732111,0152 88, 7772 22, 238
72,47869, 4153,063
73, 004
69, 9016,0433,4321,744
9,44212, 63214, 43021, 28914, 322
3,103
2.22438, 3959 238
23, 147
1 81043 48325 38518, 098
287, 547
10 3261 4641 5451,9324,428
957
1,916,929356,923222, 357712, 611444 086180, 952
241.7
5,60210,9848,0476,7394,899
20, 851
2,4709,5137,4922,021
71,93968,9702,969
72, 159
69, 1695,6032,9401,820
9,84712, 35014, 03021, 15714,090
2,990
2,15737, 7739,635
22, 594
1 79243,04225,56417,478
23, 69825, 142
848108131169345
95
55, 55527, 51513. 20565,46034, 07115, 304
43.6
5,57711,0037,7895,3874,726
21,007
2,4419,1037,4711, 632
71,61768, 7152,902
71, 966
69, 0235, 8503,2201,781
9,70512, 28514, 20420, 94113,919
2,943
2,14637,5509,462
22, 808
1 79142 73925,26917,470
22, 74823,278
741117114140304
66
115, 84724, 98320, 26738, 58020, 17811, 839
40.1
5,65811,0398,3045,3184,788
21, 183
2,4579, 6947, 8591,835
71,90368,9082,995
72, 313
69,3115,9483,3161,783
9, 55212, 43014, 44621, 02314, 054
3,002
2,20437, 8109 329
22, 970
1 8284298825 35917,629
23, 97725 050
75911011914231375
144, 70215 91213, 28854, 70640, 77120, 025
38.1
6,11111,4598,4495,4444,969
21,560
2,7089,9357,9322,003
72, 13669,0853,051
72, 861
69,8135,9913,3711,770
9,44812,61014, 55721 13314, 151
3,048
2,32438, 2699 233
23, 035
1 93043 4342549717 937
22, 79925 828
81913112512935381
128,99816 53311,60163, 61923 02614, 219
41.6
5,93311,5768,3215,1545,072
21, 827
2,6009,8508,1311,719
72, 47869,4153,063
73, 004
69, 9016 0433 4321,744
9,44212 63214, 43021 28914, 322
3,103
2,22438, 3959 238
23' 147
1 81043 48325*38518*098
26 05125' 529
73093
10112635357
111, 32218 17012 47344, 74227 9537 984
37.5
6,00611,6189,0835,5135,192
22, 459
2,69210,7458,1662,579
74, 06670,9233,143
73 686
70, 4905 9833 4071 731
9,46212 74213 97522 27414 417
3,196
2,26739 0169 247
23 156
1 84844 07925 15318 926
25 71624 685
75095
13013930581
01, 61915 77618 26136, 51519 37411 693
35.7
5,93911,6658,4465,8205,318
22, 604
2,6709,9698,1961,773
75, 23571, 8803,355
74, 279
70, 9156 0733 4931,715
9,59112 80513, 94922 39414, 159
3,364
2,27439, 3489 313
23 344
1 84444 10225 16718 935
24, 34024 743
88013011812142586
91, 33136 05724 94677, 84728 60423 877
40.8
6, 13811,7658,5225,6375,497
23,538
2,82910,3448,5281,816
75, 91472,4333,481
75 039
71, 5586 3833 6601 837
9,67413 05113 94822 36914 311
3,481
2 35839 2039 440
24 038
1 91544 30825 29119 017
30 00327 399
98611614619444585
20, 66226 57826 81513, 43742 28411 548
41.2
6,29011,6669,0125,9405,355
23,422
2, 94510,7448,7851,959
76,39672, 8373,559
75 506
71, 9836 3503 6061 874
9,62813 15613 99922 61114 553
3,523
2 42139 3749 406
24 305
1 97744 73325 50219 231
r26 41426 372
80812110213435596
48 46714 1428 518
60, 56648 87016 371
36.5
6,35911,919
• 8,8955,7825, 470
23, 587
3,01210, 5699,0361,533
76, 07172, 4763,595
76 103
72 5796 7593 9071 963
9,557132581417122 54014 689
3,524
2,53939 1999 379
24 986
2 07744 85325 84219 Oil
28 03026 396
85611512812739888
90 13999 48216 98032 32335 84875 506
38.2
6,31811, 97810, 5015,4995,544
23, 894
2,92512, 1729,2282,944
77, 61974,0283,591
78 608
75 0647 2424 3661 979
9,66413 58614 34023 83316 086
3, 544
2,60740 785
q 47425 742
2 16246 63726 32220 315
r28 331r26 277
7308881
12633897
27 90014 22810 44748 97927 03627 210
34.2
6,03611, 8058,8196,3325,534
23, 978
2,80710, 6179,1001,517
79, 18975,5853, 604
79 241
75 6677 5634 7061 931
9,84313 74914 28423 88016, 010
3,574
2,51940 7519 567
26 404
2 06446 77926 74720 032
26, 10326 893
74010392
12734474
04, 62418 0227 619
12, 76945 41920 795
38.5
6,30012, 0358, 8246,4195,621
25, 101
r3,01910, 717
r 9,211r 1,506
79 855'76,234
3,590
80 344
r76 686r 8 138
5 1612 052
9,88613 95414 387
r24 02516 176
3,621
2,50440 7079 590
27 543
r 2 049r 46 '929r27 084r!9 845
82410112414737280
53, 61916 05822 00014, 16087 81213 589
40.5
* 3 098ill 247i 9 219i 2, 028
i 77, 638
178 232i 8 441
1 24 634
i 2 21047 80327 63720 166
COMMODITY PRICES
PRICES RECEIVED AND PAID BYFARMERS
Prices received, all farm products 1910-14= 100. _Crops9 do
Commercial vegetables _ _ _ d oCotton doFeed grains and hay.. doFood grains. doFruit.. doTobacco. do
Livestock and products9 .. doDairy products doMeat animals doPoultry and eggs do
Prices paid:All commodities and services do
Family living items do.Production items. do
All commodities and services, interest, taxes, andwage rates (parity index) 1910-14=100
Parity ratio § __ . . do
280227294183177163245604326345405151
336366314
390
72
285243323209185167265619321354402133
352382331
410
70
286242279228174158285627324347409135
355386333
412
69
282234273228167156263
»-639324361404132
355387333
413
68
289240306233157161291641328366414125
355386332
413
70
291246395242157161257655331371417128
357387335
415
70
294245340246168165251664338371426138
357389335
416
71
303251356255173165255671349369453130
360391338
420
72
310248320255173166259664363365481130
363395340
423
73
304243290235173166263665357362468138
364395341
423
72
303253327264174168260666346352459122
365396343
428
71
313261342272180170275666357345485123
366398344
428
73
317263319270180166310665364342498125
369400348
432
73
323262328261178164278676376348515136
372403349
433
75
325
268334261178183292715374357507132
372403349
AOOtijO
7.1
326264341206187207309718380373504145
376405356
497tot
7fir Revised. *> Preliminary. i Advance estimate; total mfrs. unfilled orders for Aug.
1972 do not reflect revisions for selected components. 2 Based on unadjusted data. } Re-vised back to 1966 to reflect benchmarking to the Annual Survey of Mfrs. for 1966-70 andcalculation of new seasonal factors; revisions back to 1966, new seas, factors, and other techni-cal data appear in a special Census Bureau report entitled Mfrs.' Shipments, Inventories,and Orders: 1966-72, M3-1.4, Revised (available from Publications Distribution Section,SESA, Wash., D.C. 20233). 1fSe- ^ote marked "<?" on p. S-6. excludes textile mill
products, leather and products, paper and allied products, and printing and publishing in-dustiies; unfilled orders for other nondurable goods industries are zero. 9 Includes data foritems not shown separately.
^Compiled by Dun & Bradstreet, Inc. (failures data for 48 States and Dist. of Col.).© Revisions for Jan.-Dec. 1970 will be shown later.§ Ratio of prices received to prices paid (parity index). J
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-8 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
COMMODITY PRICES—Continued
CONSUMER PRICES
(U.S. Department of Labor Indexes)
Unadjusted indexes:All items 1 967= 100. _
Special group indexes:All items less shelter _ __doAll items less food doAll items less medical care do
Commodities _ do__ „Nondurables do
Nondurables less food doDurables 9 - - --do
Commodities less food -_ . doServices - - - do-__ .
Ser vices less rent do - -
Food9 doMeats poultry and fish doDairy products - do_ __Fruits and vegetables _ do
Housing doShelter 9 do
Rent -J- - doHomeownership do
Fuel and utilities 9 __do ___Fuel oil and coal doGas and electricity - do
Household furnishings and operation. do_
Apparel and upkeep _ _ _ _ _ d o _ _ _Transportation do
Private doNew cars - - -doUsed cars . - do
Public doHealth and recreation 9 do
Medical care - do_ _Personal care doReading and recreation do
WHOLESALE PRICES^
(U.S. Department of Labor Indexes)
Spot market prices, basic commodities:22 Commodities 1967=100
9 Foodstuffs do13 Raw industrials _ do
All commodities -- do_.
By stage of processing:Crude materials for further processing.. _do_ _ _Intermediate materials, supplies, etc doFinished goodsO— _• _ _ do__ _
Consumer finished goods doProducer finished goods ... do
By durability of product:Durable goods doNondurable goods _ _ _ _ _ _ _doTotal manufactures _ _ _ _ _ _ _ _ d o
Durable manufactures doNondurable manufactures do_ _
Farm prod., processed foods and feeds do
Farm products 9 doFruits and vegetables, fresh and dried-doGrains. doLive poultry do -Livestock __ _ _ _ _do_ _ _
Foods and feeds, processed 9 -doBeverages and beverage materials doCereal and bakery products. _ _ _ _ _ do_ _Dairy products doFruits and vegetables, processed^ _doMeats, poultry, and fish _ do
Industrial commodities do
Chemicals and allied products 9 _ d o _ _ _Agric. chemicals and chem. prod d o _ _ _Chemicals, industrial doDrugs and Pharmaceuticals. __ _ _ -doFats and oils, inedible doPrepared paint. __ do
Fuels and related prod., and power 9 _ _ _ _ d o _ . _Coal doElectric power doGas fuels.. doPetroleum products, refined do_ - -
Furniture and household durables 9 ------ do_ _.Appliances, household. do _Furniture, household doHome electronic eauipment do _.
116.3
114.4116.7116. 1
113.5114.0113. 1111.8112.5121.6123.7
114. 9116. 5111.8113.4
118.9123. 6110.1128.5107.6110.1107. 3113.4
116.1112.7111.1107.6104. 3128.5116.2120.6113.2113.4
i 113. 4i 112. 6i 113. 8
110.4
112.2109.8110.4109.9111.9
112.4108.9110.2112.0108.2
111.6
111.0111.698.899.6
116.7
112.0112.9107.6111.2110.4115.8
110.0
102. 288.4
100.9101.1133.3112. 4
105. 9150.0104.8103.3101.1
107.5105.3111.693.6
121.3
119.3122.1120.9
117.4117. 7117.0116.5116.8128.4130.9
118.4116.9115.3119.1
124. 3128.8115. 2133.7
115.1117.5114.7118.1119.8118.6116.6112.0110.2137.7122.2128. 4116.8*119.3
1108.01 109. 31 107. 1
113.9
115.0114.0113. 5112.7116.6
117.0111.7113.8117.0110.5
113.8
112.9120.1100.9100.3118.3
114. 3115.8111.4115.4114.3116.0
114.0
104.292.2
102.0102.4133.5115.6
114.2181.8113.6108.0106.8
109.9107.2114.893.8
122.1
120.2122.7121.6
118.2118.6117.2116. 9117.1
r 129. 3131. 9
120.0118.7116.0123.6125.1129. 5115.8134.4
116.3117.8115.7119.1
119. 0119.3117.3109.3112.5139.1
123.1130.0117.5119.7
108.3111. 3106.1
114.9
115.2115.6114.1113.3117.1
118.4112.4114.9118.5111.2
114.6
113.2115.992.8
100.8121.3
115.4116.1111.4115.4116. 2117.7
115.1
104.391.0
102. 4102.7134.2115.9
114.8182.9115.3107.2107.3
110.2107.4115.594.0
122.2
120.2123.1121.7
118.1118.7118.2116.4117.4129.8132.3
119.1119.1116.1116.6125.5130.1116. 1135.1
116.3117.8115.7119.4
120.6118.6116.4105.6111.6139.3123.6130.4117.6120.5
107.4107.3107. 5
114. 5
113. 9115.4113.6112.7116.9
118.2111.7114. 7118.3111.0
113.0
110.5103. 689.0
102.8119.1
114.6116.0111.3115.4115.7117.5
115.0
104.391.0
102.4102.6132.9115.9
-115. 3182.9116.4108.4107.3
110.2107.6115.693.8
122.4
120.3123.5122.1
118.4118.8118.7117.1118.0' 129. 9
132. 5
118.9118.4116.0115.6
125.9130.6116.4135.7116. 3117.8115.7119.5
121.6119.3117.2109.1111.7139.3123.5129.6117.9120.5
106.7105.5107.4
114.4
114,3115.0113.8112.9117.1
118. 2111.6114.5118.3110.6
113.0
111.3115.888.393.5
120.9
114.1116.4111.3116.4115.3116.9
115.0
104.290. 4
102.4102.6129.0115.9
114.8182.9116.3108.8106.3
110.2107.5115.693.8
122.6
120.4123. 7122. 3
118.5118.9118.7117.4118.1
r 130. 3132.9
119.0118.1115.9117.8126.4131.3116.6136. 7116.8118.1116.2119.5
121.9118.8116.6109.6110.2139.3123.7129.7117.9120.8
105.8104. 3106. 9
114 5
114. 3115.0114.0113.1117.0
118.1111.8114.5118.3110.7
113.6
112.2127.187.892.3
121.0
114.4116.6111.5116.3115.4117.1
114.9
103.890.3
101.7102.4125.3115.9
114.7182.9116.2108.8106.2
110.2107.6115.493.4
123.1
120.9123.9122.7
118.9119.5118.8117.2118.1
r 130. 7133.3
120.3118.9116.1124.4
126.8131.6116.9137.0
117. 9118.1118.2119.6
121, 8118.6116. 3110. 4107.2139.7
123.9130.1117.9121.1
106.7106. 4106.8
115.4
117.0115.4115.0114.2117.8
118.6113.0115.1118.8111.3
115. 9
115.8126.395.387.2
124.7
115.9116.4111.6117.4115.8120.4
115.3
103.490.3
101.1102.5115.9115.9
115. 0190.2116.3107.9106.1
110.2107.4115.593.4
123.2
120.9124.0122.8
118.7119.2118.1117.3117.7131.5134.1
120.3120.7116.4120.9
127.3132.3
f 117. 5137.8118.7118.7119.0119.5
120. 2119.0116.4112.2105.3143.4
124.3130. 5118.1121. 4
110.3109.7110.7
116. 3
120.2115.9115.5114.7118. 4
119.2114.1115.7119.3112.0
117.4
117.8124.994.194.3
132.2
117.2116.4112.2117.3116.0125.4
115.9
103.490.3
101.4102.3111.3116.2
116.0192.7118.9110.0106.1
110.2106.9116.093.3
123.8
121.5124.2123.4
119.4120.3118.4117.1117.8131.8134.4
122.2126.3116. 9123.9127.6132.5' 117. 8
138.0
119.3118.7119.4119. 6120.7118.3115.7111.9103.0143.5
124.7131.0118.4121.5
112.4111.3113.0
117.3
123.1116.7116.3115.6118.8
120.0115.3116.5120.1112.8
119.6
120.7127.593.0
105.4139.6
118. 8116.8112.4117.5116.1130.5
116.5
103.590.2
101.4102.2110.7117.3
116.1192. 6120.0110.2105.5
110.8107.5116.792.9
124.0
121.8124.5123.6
119.7120.6118.9117. 3118.2
r 132. 1134.7
122.4126.8117.3121.4127.9132.7
' 118. 0138.2119.6118.7119.7120.1121.3118.4115.9111.7103.9142.3125.0131.4118 7121 7
114.4110.4117.2
117.4
123.1117.2116.1115.2119.0
120.4115.2116.7120.4112.9
119.1
119. 7112.893.8
107.6136.7
118.6116.7112.6118.0116.7127.3
116.8
103.490.6
101.0102.5103.5117.9
116.5192.6120. 0110. 9106.3
110.9107.4116.893.0
124.3
122.1124.9123. 9
119.9120.7119.1117.7118.5132.4135.0
122.4125.9117.4122. 1128.2133.0
r 118. 4138.5119.9118.6120.2120.5121.8118.6116.1111.7106.4142.7125. 5131.7119.1122.3
115.6110.1119.5
117.5
123.0117.7115.8114.8119.3
120. 7115.1116.9120.8112.9
118.3
119.1117.696.094.1
133.8
117.7117.2112.8117.5118.3123.6
117.3
104.192.2
101. 5102.4112.2118.3
116.9191.2120.5112.5106.6
111.0107.5116.992.8
124.7
122.4125.4124.3
120.3121.0119.7118.4119.2132.7135.3
122.3124.8117.3123.9128.5133.4
rl 18. 6138.9
120.1118.7120.5120.8
122.5119.5117.1111.4110.0142.7125.8132.0119. 7122. 5
119.2112.2124.3
118.2
125.5118.2116.4115.5119.4
121.0116.2117.4121.0113.6
120.0
122.2120.697.596.3
139.8
118.6117.2113.3117.4119.0126.8
117.6
104.492.1
101.4102.8116.0118.3
117.5191.2121.2113. 0107.3
111 . 1107.2117.192.9
125.0
122.7125. 7124.6
120.7121.2119.5119.2119.4133.1135.7
123.0126.4117.0127.2
129.0134.1
' 119. 0139.6120.1117.8120.3121.0
122. 1119.8117.3111.3112.0143.0
126.1132.4120. 0122.9
119.1112.7123.7
118.8
127.2118.5116.9116.1119.6
121.2117.0117.8121. 3114.3
121.3
124.0121.794.5
102.9* 146.4
119.6117.8113.3115.3119.5131.4
117.9
104.392.3
101.4103. 1115. 9118.3
118.2191.2121.5112.9108.5
111. 2107.1117.292.6
125.5
123.1125.9125.1
121.2121.7119.3119.6119.4133.5136. 2
124.2129. 9116.8128.4
129.5134.9
r 119. 2140.7
120.2117.7120.3121. 1
121. 1120.3117.8111.0112.7143.3
126. 3132. 7120.0123.0
119.8114.4123.7
119.7
130.1118. 8117.8117.3119.7
121.4118.5118.3121.5115.1
124.0
128.0129.996.3
118.4152.4
121.5117.9113.6117.7119.6135.8
118.1
104.291.9
101.5103.2113.2118.3
118.6191.2122.1113.2109,1
111.4107.3117.492.4
125.7
123. 2126. 1125.3
121.4122. 0119.4119. 7119. 5133.8136.4
124.6130.8116.6128.1129.9135. 5' 119. 6
141.3120.1117.9120.5121.2
120.8120.5118.1110.6112.4143. 3
126.5132.9120.2123.0
121.0115.8124.6
119.9
130.3119. 2117.9117.4119.8
121.6118.6118.5121.7115.1
123.8
128.2138.999.8
106.8148.1
121.0118. 9115.3118.6120.2132.3
118.5
104.492.0
101.3103.3121.4118.3
119.7191.5122.1114.3110.7
111. 7107.7117.892.4
126.2
123.2126.7125. 9
122.0122.8120.8119.8120.3134.1136.7
124.8130.9116.9125.7
130.1135.7119.9141.5
120.3118.0120. 5121.6
123.1121.0118.6109.6113.6144.0
126.8133.1120.5123.7
122.7119.7124.8
120. 2
130. 3119.7118.2117.7119.9
121.8119.1118.8121. 9115.6
124.5
128. 6138.1109.5112.3144.9
121.8119.1116.1119.0120. 1131. 7
118.7
104.492.0
101.3103.1116.4118. 3
120. 3192.2122.6116.7111.3
112. 0108.1117.792.9
T Revised. * Preliminary. ^Computed by BEA. 9Includes data for items notshown separately. cf For actual wholesale prices of individual commodities, see respective
commodities. O Goods to users, incl. raw foods and fuels.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-9
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
COMMODITY PRICES—Continued
WHOLESALE PRICES^1— Continued
(U.S. Department of Labor Indexes— Continued)All commodities— Continued
Industrial commodities— ContinuedHides, skins, and leather products 9
1967=100..Footwear . • - _ _ __ _do_ _Hides and skins -do _Leather do
Lumber and wood products doLumber do_ _
Machinery and equipment 9 -- -do. _Agricultural machinery and equip _do_
- Construction machinery and equip doElectrical machinery and equip _ do_Metal working machinery and equip.... do
Metals and metal products 9 . - do- _.Heating equipment _ _ . •_..' do. __Iron and steel doNonferrous metals do__ _
Nonmetallic mineral products 9 doClay prod., structural, excl. refractories
doConcrete products doGypsum products . - do_
Pulp, paper, and allied products do __Paper do
Rubber and plastics products. _ _ __doTires and tubes _ _ do
Textile products and apparel 9 doApparel - - -do, __Cotton products. _ _ _ _ _ _ _ _ _.do_ __Manmade fiber textile products doSilk yarns _ _ do_ _Wool products. _' do_ _
Transportation equipment 9 ...Dec. 1968=100..Motor vehicles and equip 1967=100
Miscellaneous products 9 doToys, sporting goods, etc doTobacco products _ _ do
PURCHASING POWER OF THE DOLLAR
As measured by-Wholesale prices 1967=$!. 00Consumer prices ~ _ -do _ _
110. 1113.0104. 4107.7113 7113.7
111. 4113.0115.5106 4114.0
116.7110.6115.1125.0
113.3
109.8112.2100. 0108.2111.0108.6109.0
107.2111.0105.6102.1114. 399.4
104.5108.5109.9109.4114.0
$0. 906.860
114.0116. 8115.1112. 5127 0135.5
115.5117.2121.4109.5117.3
119.0115.5121 8116.0
122 4
114.2120 6106.8110.1114 1109.2109.2
108.6112.9110.6100. 80)93.5
110. 3114 7112.8112.6116.7
$0. 878.824
114.4117.1114.6114.4134.6146.7
116. 1117.5121.9109.9118.1
121.1116.8125.3117.1
124 2
114.9122 8114.3110.6114 7109 8111.4
109 7113.6112.5103 1(i)92.7
110.5114 9113 0112 6116.8
$0. 870.819
114.7117.1117 7113.4134 3146 8
116 0117.5121.8109 7118.0
121 1116 7125 6116 5
124 2
114. 9122 6114 5110 6114 7109*7no's109 7113 8112 2103 1(i)92 5
109.6113 8113 0112 6116 8
$0. 873.818
114.7117. 1117.2113.4131. 8142.7
116.0117.5121.8109 6118.1
121 0116.3125 5116 3
124 1
114.9122 6113 6110 6114 7109 5110 8
109 6113 8112 2102 5(i)92 4
110.7115 2113 0112 6116 8
$0. 874.817
115.1117. 1123.1113.5131.3141.9
115.9117.5122.0109 3118. 2
120 9116.5125 3116 0
124 0
114.9122 6112 1110 6114 7109 5110 8
109.8113.8112. 5103 2(i)92.3
110.8115 3113 1112 8116 8
$0. 873.816
116.2117.1128 6117.0132 7143 8
116 2118 6123.2109 3118.4
120 8116 3125 3114 9
124 2
114.9122 9114 1110 7114 7109* 4110 8
110. 6^113.8113. 6104.3(i)91.5
112.9117 5113 2113 1116.7
$0. 867.812
117.8118. 1136 0120 0134 9146 9
116 5119 9124.3109 5118.5
121 4115 9126 8114 4
124 3
114. 8123 4113 4110 8114 9109 5110 3
111 3113 8116 7105 4(i)92 0
113.4117 9113 7113 5117 4
$0. 860.812
119.1118.5148 9120 6137 7150 4
117 1121 5124.7110 0118.9
122 6116 2128 2115 0
124 6
116.1123 8112 8111 6115 3109 2108 4
112 0114 0118 0105 9(i)92 2
113.6118 0114 0114 0117 4
$0. 853.808
123.0120 1173 8128 4139 5152 4
117 3122 0125.0110 1119.4
123 4117 0128 3117 2
124 8
116.2124 5115 3112 3115 7108 9108 4
112 1114 1119 6106 1d\92 0
113.6
m o
m e
117 4
$0. 852.806
127.2122.4188 6138 1141 1155 1
117 6122 1125.7110 9
119.7
123 5117 Q128 3117 6
125 6
117.2125 1114 9112 8m q108 7108 4
112 6114 2120 5107 9d\93 0
113.7m f i1 1 A 1
m (\
m A
$0.851.805
129.5124 6200 3137 8142 7157 0
117 9122 3125.6110 5120.0
123 6118 1m q
117 8
1 9^ Q
117.21 OK 1
m A
- 113 2f ' l K Q
ins 8108 4
m q
114 3121 51 fis nmQQ Q
113.8
m im iU7 f*
$0. 846.802
130.9125. 8204.1138. 6144.2159.0
118.1122.7125.9110 6120. 2
123 6118 6128 1117 6
125 8
117.4125 3113 9113 5116 2108 9108 7
113 6114 4122 6108 6m99 2
114.2
m om A
117 5
$0 842.800
131.6126.5212.5138.1146.1161.6
118.3122.7125.9110.7120.5
123.5119.0128 3116 8
126 2
117.5126 0115 7113 7116 7109*2109 5
114 0115 1123.0108 9(i)
100 0
114.1118 4114 9114 5117 5
$0 835797
134. 6126.5243 0140 6148 1164 1
118 3' 122 8
126.1110 6120.8
123 7119 2128 6116 8
126 7
117.5126 1116 1114 1116 7109 5109 7
114 1115 1122 8108 7(i\
101 1
114.2118 5115 1114 5117 5
$0 834796
135.7126 8244 0143 5148 5165 1
118 3122 6126. 1110 6121.0
•jo/1 n
m o
117.519fi 3
m o
m q
m 7
If tQ 7
m q
-I -\ f q
•joq (*
0)
114.2110 K
1 1 K O
114. 8
117 5
$0 832
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE 1
New construction (unadjusted), total f mil. $__
Private, total 9. _. doResidential (including farm) d o _ _ _ -
New housing units . do_
Nonresidential buildings, except farm and pub-lic utilities, total 9 .mil. $
Industrial __doCommercial.. _ _ _do
Public utilities:Telephone and telegraph _ do
Public, total 9 . . do
Buildings (excluding military) 9 - doHousing and redevelopment doIndustrial ...do--..
Military facilities . do_Highways and streets -__ do
New construction (seasonally adjusted at annualrates), total 1_ . bil. $__
Private, total 9 do
Residential (including farm) .__. . ' doNonresidential buildings, except farm and pub-
lic utilities, total 9 _ _ bil. $__Industrial do.___Commercial . _ _. _ -do. _
Public utilities:Telephone and telegraph do
Public, total 9 _ _ _ _ do
Buildings (excluding military) 9 ---- doHousing and redevelopment _ doIndustrial . .. . do
Military facilities _do__._Highways and streets. _. do
94,030
65, 93231,86424, 272
21, 4176,5389,754
2,968
28,098
10, 6571,107
499
718'9,981
109,399
79,53543,06234, 860
22, 4795,423
11,619
3,005
29, 864
11,3971,136
572
89410,658
10, 317
7,4704,1573,404
2,071423
1,160
259
2, 847
1,0478254
881,067
111.0
82.1
44.6
23.34.9
12.9
3.0
29.0
11.61.1.6.9
9.6
10, 190
7, 4344,1753,438
2,011421
1,087
252
2, 756
9738348
761,095
110.7
81.6
45.6
21.94.6
11.7
2.9
29.1
11.31.0.6.8
10.3
10, 235
7,4474,1473,413
2,034460
1,093
250
2,788
1,0009451
881,073
114.0
82.4
46.4
22.25.0
11.8
2.7
31.6
12.41.2.6.9
11.2
10, 010
7,3574,0663,344
2,012430
1,098
260
2,653
1,05611852
86936
114.6
84.2
47.1
22.94.9
12.3
3.0
30.5
12.11.3.7
1.010.8
9,175
7,0433,8903,214
1,913433
1,023
270
2,132
9089345
83660
115.6
85.2
47.9
23.04.9
12.4
3.0
30.3
12.21.2.5.9
10.4
8,418
6, 3543,5422,963
1, 748362956
194
2,064
8888944
75585
120.8
88.6
49.6
23.94.9
13 3
3.2
32 2
12.41.2.5
1.011.2
8,177
6,1013,3792,848
1,677OOQ
934
219
2 076
9086639
66552
121 7
90 8
51.9
23 54 7
13 2
3.2
30 9
11.7.86
1 010.2
8,921
6,7393,7533 131
1 839364
1,005
268
2 182
8556446
83633
123 0
92 6
53 1
24 04 8
13 2
3 2
30 4
10 866
1 210.3
9,648
7 3564 2033 390
1 928'382
1 066
245
2 292
8716148
72798
120 6
91 7
52 8
23 84 6
13 4
2 9
28 9
10 165
1 011.2
10,521
7,8924,5353 608
2 041393
1,155
282
2 629
9416748
83980
122 4
92 6
52 5
24 64 7
14 1
3 4
29 8
10 685
1 010.9
' 10, 982
r8 243T 4, 831r 3 904
2 075416
1, 161
299
T 2 739
9557346
T 951 015
r 121 1
r 92 5
r 52 9
24 34 9
iq c
3 3
T 9ft fi
10 4q
'I1 1
10.0
'10,938
T 8 306r 4 966r 4 054
r 2 017r 3Qg
r 1 132
266
r 2 632
9239433
99
r 120 1
r 91 g
r 53 5
r 23 24 fi
r iq n
3 1
r 90 q
10 81 3
5r i q
9.5
11, 316
8 5155 0214 099
2 140406
1 197
2 801
31
oq
121 7
qq E
54 0
24 14 7
iq q
90 q
A ~
••Revised. * Preliminary. i Series discontinued.cfSee corresponding note on p. S-8. 9 Includes data for items not shown separately.
ITData have been revised to reflect the incorporation of new basic data, the change in estimat-ing procedures, the modification of the type of construction classifications for private non-residential buildings, the inclusion of farm housing in new private housing units, and the
introduction of the results of a survey covering private nonresidential building constructionin the 13 Western States. More detailed information may be obtained from the Bureau ofCensus Report C30-70S, available "from the Superintendent of Documents, U.S.Govern-ment Printing Office (Washington, D.C. 20402).
478-721 O - 72 - S2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-10 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION CONTRACTS
Construction contracts in 50 States (F. W. DodgeDivision, McGraw-Hill):
Valuation, total _ mil. $..
Index (mo. data seas, adj.)-- 1967=100__
Public ownership _ _mil. $__Private ownership doBy type of building:
Nonresidential _ _ _ _ _ _ _ d oResidential > do
Non-building construction doNew construction planning
(Engineering News-Record) 0 do
HOUSING STARTS AND PERMITS
New housing units started:Unadjusted:
Total (private and public) _ _ .thousInside SMSA's _ do
Privately owned _ doOne-family structures. do. _ _ _
Seasonally adjusted at annual rates:Total privately owned . _ '. _do
One-family structures do
New private housing units authorized by buildingpermits (13,000 permit-issuing places) :
Monthly data are seas. adj. at annual rates:Total thous__
One-family structures. _. __do.._
Manufacturers' shipments of mobile homes:Unadjusted . ...doSeasonally adjusted at annual rates . .do
CONSTRUCTION COST INDEXES
Dept. of Commerce composite 1967=100..
American Appraisal Co., The:AtrArocrA 3ft nitiPQ 1Q1^ — 100
Atlanta doNew York doSan Francisco doSt Louis do
Associated General Contractors of America, Inc.,The (building only) rf1 --- _1967=100_.
Boeckh indexes:Average, 20 cities:
Apartments, hotels, office buildings.... .1967 =100. .Commercial and factory buildings __do__ . .Residences do
Engineering News-Record:Building.. __.1967 = 100~Construction do
Federal Highway Adm.— Highway construction :Composite (avg. for year or qtr.) 1967=100.__
CONSTRUCTION MATERIALS
Output index:Composite, unadjusted 9 1947-49=100.-
Seasonally adjusted do___-
Iron and steel products, unadjusted doLumber and wood products, unadj -doPortland cement, unadjusted do —
REAL ESTATE J
Mortgage applications for new home construction:FHA net applications thous. units.
Seasonally adjusted annual rates doRequests for VA appraisals do
Seasonally adjusted annual rates do
Home mortgages insured or guaranteed by-Fed Hous Adm * Face amount mil. $Vet. Adm.: Faceamount§ ...do
Federal Home Loan Banks, outstanding advancesto member institutions, end of period. __ . .mil. $__
New mortgage loans of all savings and loan asspcia-
By purpose of loan:Home construction _ _ _ d oHome purchase . doAll other purposes .. do _ _
Fire losses (on bldgs., contents, etc.) — mil. $__
68, 160
1123
21,97741, 735
24,39424, 67518,992
66, 937
1, 469. 01, 034. 41,433.6
812.9
1,352647
401.2
122
1,1321,2541, 2021,0881,116
126
124.4123.1122.4
124.4128.9
125.6
162.1
166.4162.3194.3
299.1
143.7
8, 113. 733,442.90
10,615
21, 387
4,15010, 2396,998
101, 070
2, 263. 92
80, 590
U44
22,62647, 879
-25,84637, 11919,925
65,578
2, 084. 51,518.52, 052. 21, 151. 0
1,907903
496.6
131
1,2581,4111,3591,1741,219
135.0133.9132. 8
140.5146.7
131.7
174.1
163.8182.7209.0
360.4
217.9
10,374.546,065.83
7,936
39,485
6,83518,81013,840
116,698
2, 245. 84
••7,631
153
' 2, 257'5,373
'2,082'3,227'2,322
3,828
206.0151.3204.5111.7
2,2191,198
1,997910
50.0525
134
1,2981,4411,4161,1951,253
150
137.2136.1136.3
143.4150.9
182.2165.2
140.6193.0270.0
31.5359
20.0218
1, 117. 36578. 34
7,514
4,111
6412,2251,245
9,508
186. 60
6,814
154
2,0104,804
2,2463,1961,372
4,749
175.6125.2173.8102.1
2,0291,172
'1987' 900
54.0545
134
1, 2971,4401,4151,1931,252
138.5138.1137.5
147.4153.2
135.6
179.0174.0
144.8190.4255.3
29.7343
21.7253
862. 75696. 10
7,637
3,672
6281,9511,093
10, 068
177. 70
6,568
137
1, 8374,731
2,0653,1711,332
6,024
181.7132.5179.7102.9
2,0381,155
1,983908
50.8520
134
1,2961,4391,4151,1891,252
138.5138.1137.5
147.2153.5
176.8157.3
145. 5187.6255.7
27.0351
18.1231
821. 04520. 25
7,640
3,405
6091,7171,079
9,527
162. 57
6,405
155
1,012263
2,1283,0011,275
9,919
176.4128.9173.792.9
2,2281,242
2,051952
39.9513
134
1,2951,4391,4151,1871,252
138.5138.1137.5
147.4153.6
161.8169.9
130.7180.5215.1
22.1291
16.4207
869. 50789. 56
7,709
3,298
5891,6611,048
10, 141
156. 50
6,286
160
1,087244
1,9592,9971,331
8,006
155.3118.1152.180.4
2,4571,347
2,142966
34.4509
135
1,3161,4821,4171,1901,259
138.5138.1137.5
147.9154. 6
133.5
162.0188.9
141.0177.6156.8
31.7450
15.7228
'859.77719. 71
7,936
3, 592
5731,5901,429
10,602
183. 70
6,234
165
2, 1374,097
1,7282,6671,840
4,456
150. 9112.2149.176.2
2,4871,415
2,2041,098
33.3554
135
1,3251,5361,4191,1951,260
141.8140.6141.4
149.0155.6
131.3177.6134.0
23.3333
15.4232
935. 45639. 38
7,238
2,632
481- 1, 253
898
10, 831
175. 40
5,607
155
1,6343,973
1,7992, 6641,144
6,500
153.6117.2152.276.3
2, 6821,325
2,056959
39.7552
136
1,3361,5401,4251,2661,264
150.5156.6
143.1187.2138.2
26.7326
16.8224
813. 63616. 73
6,515
2,849
5181,400
931
9,792
168. 80
7,284
159
1,6865,598
2, 1873,6171,480
7,133
205. 8' 152. 4
203.9111.4
2,3691,302
2,007954
48.8595
136
1,3411,5401,4351,2661,264
143.5143 1143.3
151.2157.2
135.5
176.1209.0192.8
27.9260
20.0207
798. 12717. 71
5,992
3,910
7121,8611,337
11,952
211.04
8,100
167
1,7416,359
2,1823, 9711, 947
4,234
213.2'155.6
211.6119.8
2,1091,167
1,991963
53.4634
137
1, 3481,5451,4361,2671,265
152.1157.6
168.8192.7205. 1
20.6221
21.7248
653. 69516. 86
5,913
3,819
7071,8191,293
10, 117
9,098
165
2,5746,524
2,9084,4281,762
4,799
227.9162.7225.8135.2
2,3501,344
1, 955923
51.5572
137
144.6144 2145.0
152.7158.5
184.8205. 9252.6
20.9217
18.5197
627. 34609. 78
5,853
4,603
8362,2761,491
12, 778
8,478
154
2,5175,960
2,4474<3751,655
5,000
226.2'160.4
223.1131.9
2,3301, 296
2,121989
54.7604
137
153.7159.9
133.7
20.4217
20.5219
643. 05854.60
6,075
5,449
8722,9201,657
12, 506
8,067
155
2,5285,538
2,4613,8641,741
3,894
'207.5' 147. 7'206.5' 119, 1
'2,218' 1, 289
' 2, 108'1,013
48.2572
138
146.6146.1147.3
154.6161.3
17.2223
17.3203
635. 16672. 96
6, 138
' 4, 572
'743' 2, 515'1,314
8,875
180
2,4666,409
2,4584,6711,746
5,315
' 228. 1165.2
'225.8' 130.0
'2,453' 1,396
' 2,237' 1, 031
51.7532
138
155.3162.9
19.5206
19.2199
750. 10771. 98
5,356
7943,0761,486
4,470
200.8
199.4120.3
2,3521,378
2,252966
147.5146.9148.6
2 157. 52 163. 7
15.8193
' Revised. *> Preliminary. 1 Computed from cumulative valuation total. 2 Indexas of Oct 1, 1972: Building, 158.3; construction, 165.6. OData for Sept. 1971, and Mar.,June and Aug. 1972 are for 5 weeks; other months, 4 weeks. 9 Includes data for items
not shown separately. §Data include guaranteed direct loans sold. cfNew base; com-parable data for earlier periods will be shown later. HHome mortgage rates (conventional1st mortgages) are under money and interest rates on p. S-17.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-ll
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownIn the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
DOMESTIC TRADE
ADVERTISING
McCann-Erickson national advertising index,seasonally adjusted :f
Combined indexf- - 1957-59 =100__Television (network) _ _ _ doSpot TV - .. doMagazines - - -•- doNewspapers -do
Magazine advertising (general and natl. farm maga-zines):
Cost, total - - - mil. $_Apparel and accessories doAutomotive, incl. accessories doBuilding materials _ _ _-doDrugs and toiletries doFoods, soft drinks, confectionery _ _ do
Beer, wine, liquors _ _ do.Household equip., supplies, furnishings., doIndustrial materials.. _ _ _ _ _ _ _ _ do —Soaps, cleansers, etc doSmoking materials doAll other .. do
Newspaper advertising expenditures (64 cities) : ©Total* mil. $
Automotive. . .--doClassified. doFinancial. - - doGeneral . __.do-.-.Retail... do
WHOLESALE TRADE
Merchant wholesalers sales (unadj.), totaL.mil. $..Durable goods establishments doNondurable goods establishments do
Merchant wholesalers inventories, book value,end of year or month (unadj.), total mil. $__
Durable goods establishments do ___Nondurable goods establishments do
RETAIL TRADE |
All retail stores:!Estimated sales (unadj.), total t mil. $
Durable goods stores 9 doAutomotive group do _
Passenger car other auto, dealers doTire, battery, accessory dealers do
Furniture and appliance group 9 _ _ doFurniture, homefurnishings stores doHousehold appliance TV radio do
Lumber, building, hardware group. doLumber, bldg. materials dealerscT doHardware stores do
Nondurable goods stores 9 _ . _ _ . doApparel group _ do
Men's and boys' wear stores doWomen's apparel, accessory stores doShoe stores . __do
Drug and proprietary stores . do_Eating and drinking places _ doFood group _ _ _ do
Grocery stores doGasoline service stations do_
General merchandise group with non-stores 9 _ _ mil. $
General merchandise group without non-stores 9 § . .mil. $Department stores _ _ _ do .
Mail order houses (dept. store mdse).doVariety stores _ do .
Liquor stores . , do
Estimated sales (seas, adj.), total t- do
Durable goods stores 9 - - - - d oAutomotive group do
Passenger car, other auto, dealers doTire, battery, accessory dealers do
Furniture and appliance group 9 doFurniture, homefurnishings stores..._do.___Household appliance, TV, radio do
Lumber, building, hardware group doLumber, bldg. materials dealersd"1 do.._.Hardware stores.. .._ do
199249318165127
1,185.750.995.320.8
156.699.4
98.071.143.8
64. 7468.9
3, 119. 592. 8
724.3117.0426.5
1,759.0
246,643111 778134, 865
26,62215, 31811, 304
375, 527
114,28864,96659,3885,578
17, 77810,4836,073
15, 34611,9953,351
261, 23919, 8104 6307,5823,501
13, 35229, 68986,11479, 75627, 994
61, 320
55, 81237, 2953,8536,9597,980
199233302175141
1, 251. 447.0
111.319.2
158.6108.1
88.264.033.1
118.2486.0
3, 289. 9101.9764. 3106.6461.8
1, 855. 3
267,357122 420144,937
28, 82816, 98711, 841
408, 850
131, 81478. 91672, 5386,378
18,56011, 0046,221
17, 37813, 7333,645
277,03620, 8044,7278,1933, 532
13, 73631, 13189, 23982, 79329, 163
68, 134
62, 24242, 0274, 3016,9728,773
212246322184154
76.83.95.01.1
11.36.3
4.52.72.41.39.6
28.8
'•243.8'8.1
'65.6'5.7
'26.8'137.6
23,14810 78812,361
27,58416,64510,939
33 840
10 9236 3535 806'547
1 527941488
1 6531 344'309
22,9171 637
349635295
1 1322 8897 2846 7482,626
5 569
5 0853 371
369549712
34, 655
11, 2986,8306,284
546
1,542936509
1,4931,186
307
202226335175140
109.96.87.72.1
13.98.5
6.45.73.2
9 544 3
1 275 69.8
64.89.0
38.8153.3
23,41810 85512,563
27,70716,61611,091
34 102
11,4186,7586 237
521
1,524898507
1, 6101 304
30622,6841, 674
354663315
1,0872,6507 3506 8182,475
5 620
5,0823,444
359537708
35,219
11,8337 3656,809
5.56
1 497903477
1,4881,179
309
205239295175157
132.54.7
15.92.2
15.512.0
9.48.03.1
10 150 1
i 321 48.5
73 110.349.1
180.5
22, 78710 69612, 091
28, 20016, 75411,448
35 659
12 0897 3296 781*548
1,610976519
1,6281 302
32623, 5701,741
379701292
1,1152,7227 5667 0222,509
5,862
5,2913,568
404552738
34, 964
11 6957 1096,564
545
1 583964510
1,5151,193
322
201248296173138
132.34.89.92.1
13.813.1
12.27.33.5
9 454 6
i 319 g8.0
63 99 4
48 2190. 3
23,35610 66612,690
28,49316,75911,733
36 018
11 7967 1006 516
584
1 6771 009
?546
1 5681 244
32424,2221 897
439752303
1 0992 5307 1856 6732,493
6 824
6 2454 195
575621758
35 57411,8857,2486,690
558
1,575946520
1, 5751,255
320
201246290174140
100.73 44.4.7
12 610.1
13.45.12.0
9 638 4
i 293 24 8
54 39 6
35 0189.5
23, 65410 47813, 176
28, 82816, 98711, 841
42 572
11 9316 1495 570
579
2 1731 159
811
1 540i 107
41330,6413 001
7501 183
403
1 5652 (jgg8 3007* 7072,528
9 904
9 3616* 518
5481 133i f)79
34 89611, o346,6396,162
477
1, 651954558
1,5481,249
299
209235319185153
72.41 65.71.19 15.1
2.92.32.11.18 2
33 2
279 46 8
71 113 539 9
148 1
21,7569 725
12031
29,0641704112 023
30 604
9 6615*7565 317' 439
1 560905540
1 223984239
20,9431 437' °.*»°.
547235
1 1052 4547 101f> a.f)f\
2,388
44.9fi
4 0042 680
269419fifiQ
34 88611,4756 5786,028
550
1 7411,020
607
1,6851,359
326
207258292184140
94.03 09.11.1
13 39.8
4.23.91.92.28 8
36 8
273 78.6
69.58.6
40.0146.9
22,0129 951
12,061
29,07917,17111,908
30 987
10 1816 1925 760
432
1 550Q1Q505
1 240QQQ
24220,8061 309
302521210
1 1012 4027 inr
2,264
A K1O
4. Ofid.
9 fi4.fi
327ARA
fif\9
35 34511,4576 6896,121
568
1 7281,027
573
1,5761 249
327
205244327178134
107.44 3
11.32 5
12 210.4
5 65.92.61.78 5
42 3
313 710 876 110 944 8
171 1
24,938n cc'7
13 371
29,28917 41211 877
36 220
7,020
1, 021
1,176290
23,962
365
7,8707,3342,488
5,673
5,151
4.1 Q
74336 45012 0877 0736 464
609
1 7801,058
568
1,6221 270
352
215257335181149
121 06 0
11.63 3
13 410. 4
7 48.52.42.38 7
46 9
332 69 2
83' 712 250 7
176 8
23,04410 Q77
12 067
29,60817 74011 868
OK OQ1
19 OCR7 379
CQ/-J
1 ^tQ^t
(•no
1 Ud.
23,296
390
7,5867,0672,456
5,496
5, 0373,348
580709
36 28711,9657 0676,490
577
1 7431,044
583
1,5621 246
316
216253349187147
128 93 8
14.43 5
14 49.8
8 39.83.81.78 8
50 7
324 610 481 49 9
48 2174 7
25,2901 1 RQR
13 392
29, 66917 85511,814
38 14110 000
8 1627 WQ
coo
1 6891' n°.4.
con
1 7311 OKC
Q7K
24,8531 7fifi
A1Qftsn°.n4.
i 01 n2 0ftfi
2, 602
5 *5f»1
3 aoQooofion
37 120
12 2727 3026 719
583
1 7481,016
576
1 5921 250
342
214247338187148
109. 01 7
12.22.2
13 310.6
8 56.22.41.79 6
40 5
310 38 3
79 311 543 6
167 6
25,3891 9 197
13262
29,64818 00311 646
38 71013 7<?88 3727 71 ft
AKA
1 7701' ini
KAA
1 8411 ' 4fifl
OQt
24,9821" 757
8, 1657,5842,640
O/M
77436 80212 2467 2666 704
562
1 7351 051
527
1 6051 263'342
83.81 28.41.3
10 58.7
6 44.61.61.69 8
29 8
280 47.6
82 610 230 4
149 7
'23,491r1 1 ft8*\
'12 406
'29,901'18 332'11 569
-Ofl Qftl
-•jo a<)Ar 7 AQA
r ft17
r 1 74.Qr 1 ftftl
T fine
r 1 °.°>7r 1 AftK
_ 070
'24,337r 1 fifiA' 371
r 8, 092' 7, 492' 2, 752
' 5, 660T 5, 208
'803rV7 Q49
'12 468r 7 399r 6 §21
r 578
r 1 7gl
r 1 026' 614
r 1 679r 1 33g
'341
78 13 75.'o
911 26.3
4 73.42.31.48 6
30 5
273 47 4
76 76 3
30 0153 0
26,677
14 135
29, 96118 15211 809
'37, 871'12, 739' 7, 414
6 788626
' 1, 7961 069
582
1,9411 579
362'25, 132' 1 751
382671310
' 1 205'3 124' 7 991' 7 390'2,788
r 6 255
' 5 745'3 788
441636773
'37 843
'12 8007 7337 123
610
1 7761 039
587
1 7051 353
352
117 0a A
8.42 2
19 1
8.9
A 77.63.31.8
AQ -I
237,092212, 2122 7, 030
2 1, 789
224, 8802 1, 832
2 1, 1992 2, 9272 8 0962 7 55022,655
a 6 147
2 5 5902 3 729
237 297212 326
' Revised. »Data for Sept-Dec. 1970 are as follows (mil. $): 256.2, 279.5, 309.5, 264.4;7.0,9.0,7.1,5.6; 58.6,60.1,58.0,46.1; 8.9,10.2,7.8,8.8; 37.9,42.6,48.5,30.6; 143.9,157.6,188.1,173.2.
2 Advance estimate. ©Source: Media Records, Inc. 64-City Newspaper AdvertisingTrend Chart. *New series. Beginning Jan. 1971 the series was revised to reflect trends innewspaper advertising expenditures in 64 cities instead of linage in 52 cities as formerly pub-lished. ^Revised to reflect new sample design, improved techniques, and new informationfrom the 1967 Census of Business; revisions for periods prior to Oct. 1970 appear on p. 55 ff.
of the Dec. 1971 SUBVEY (complete details appear in the Census Bureau Monthly RetailTrade Report, Aug. 1971 issue). 9 Includes data for items not shown separately.
t Formerly Marketing/Communications advertising index. Series revised in June 1971;comparable 1970 monthly data are in the SURVEY for that month (no comparable earlier dataare available).
cf Comprises lumber yards, building materials dealers, and paint, plumbing, arid electricalstores. § Except department stores mail order.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-12 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 j 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
DOMESTIC TRADE—Continued
RETAIL TRADEf— Continued
All retail stores f— ContinuedEstimated sales (seas, adj.)— Continued
Nondurable goods stores 9 mil. $._Apparel group do
Men's and boys' wear stores doWomen's apparel accessory stores do_ __Shoe stores do
Drug and proprietary stores doEating and drinking places doFood group __do
Grocery stores doGasoline service stations _ do
General merchandise group with non-stores 9 . mil. $_.
General merchandise group without non-stores 9 § mil. $
Department stores doMail order houses (dept. store mdse.JdoVariety stores do
Liouor stores do__
Estimated inventories, end of year or month : |Book value (unadjusted) total J mil. $
Durable goods stores 9 do __Automotive group. doFurniture and appliance group doLumber, building, hardware group. _ do
Nondurable goods stores 9 doApparel group - doFood group _ . do__ _General merchandise group with non-
stores mil. $-.Department stores do
Book value (seas, adj ), total t doDurable goods stores 9 d o _ _ _ _
Automotive group doFurniture and appliance group doLumber, building, hardware group. _do__ _
Nondurable goods stores 9 doApparel group do _Food group _ _ __doGeneral merchandise group with non-
stores mil. $Department stores _ _ _ do
Firms with 11 or more stores: tEstimated sales (unadj.), total 9 do
Apparel group 9 doMen's and boys' wear stores doWomen's apparel, accessory stores doShoe stores do
Drug and proprietary stores doEating a n d drinking places _ _ _ _ _ _ d oFurniture and appliance group do
General merchandise group with non-stores 9 mil. $
Genera] merchandise group without non-stores § mil. $
Dept. stores, excl. mail order sales doVariety stores _ _ do
Grocery stores doTire, battery, accessory dealers do
Estimated sales (seas, adj.), total 9 do
Apparel group 9 doMen's and boys' wear stores.. _ _ _ doWomen's apparel, accessory stores do __Shoe stores do
Drug and proprietary stores doEating and drinking places v do
General merchandise group with non-stores9 mil. $__
General merchandise group without non-stores! mil. $-.
Dept. stores, excl. mail order sales doVariety stores do
Grocery stores doTire, battery, accessory dealers _ do -_.
All retail stores, accts. receivable, end of yr. or mo.: d1
Total (unadjusted) mil. $Durable goods stores.. _ d o _ _ _Nondurable goods stores. do_._
Charge accounts doInstallment accounts _ _ do. _
Total (seasonally adjusted). _ doDurable goods stores do. _Nondurable goods stores _ do
Charge accounts doInstallment accounts.. do
' 45, 43919, 8018,8503,3842,671
25, 6384,2095,078
9,9055, 976
' 46, 62620, 3459,1333,4322,748
26, 2814,3845,018
10, 5286,357
117, 245
5,475819
1,8751,4734,3442,8591,508
46, 102
43,48731, 8935,417
43, 1831, 827
22, 8607,387
15, 4739,001
13, 859
21, 3947,214
14, 1808,603
12, 791
' 50, 88923, 15211,3843,5573,219
27, 7374,3975,507
11, 0626,613
•'52,26123,80811, 7723,6043,312
28, 453.4,5805,442
11,7537,035
125,607
5,741750
2,1231,4984,6932,7351,600
52,092
49, 00836,5445,398
45,2351,955
23,5147, 753
15, 7619,385
14, 129
22, 0467,580
14, 4668,986
13, 060
23, 3571,749
409686294
1,1672,6147,4786, 9502, 511
5,757
5,2513,511
384577741
49,82722,16110, 5833,5163,076
27, 6664, 5945,219
11,3186,716
' 51,22323, 44111, 8263,5343,110
27, 7824,5175,315
11,3366,743
10,143
45552
165127405263119
4,229
3,9742,958
419
3,577165
10, 571
48064
176126425253
4,314
4,0523,012
442
3,842169
21, 4267,597
13,8298,826
12, 600
21, 8477,507
14,3408,908
12, 939
23,3861,683
385666284
1,1382,5737,5166,9932,523
5,872
5,3153,618
370571754
51,51422, 91611, 2263,5663,116
28, 5984,7655,280
11,9737,177
52,10424, 14312, 3993, 5593,157
27, 9614,5125,344
11, 4796,881
10, 275
47255
174137367221131
4,286
3,9962,996
416
3,665156
10, 639
46260
170123387213
4,525
4,2433,180
450
3,774172
21, 7607,780
13, 9808,975
12, 785
2l) 9647,605
14,3598,982
12, 982
23,2691,700
384665291
1,1332,6327,3916, 8512,494
5,817
5,2473, 554
382568748
52,87023, 13011, 2543,6263,189
29, 7404,8995,452
12,6277,632
' 52,08324, 03412, 2193, 5413,238
28, 0494,5665,366
11, 4356,869
10,639
48362
184121384218147
4,442
4,1433,092
426
3,810164
/ 10,442
46257
171124397210
4,433
4,1513,123
437
3,671163
21, 8267,791
14, 0359,032
12, 794
21, 9337,581
14, 3528,907
13, 038
23, 6891,775
397699304
1,1412,6777,4746,9442,521
5,954
5, 3873,641
395577742
' 53,72023, 38711, 2783,7103,206
30,3335,0055,630
12, 8357,821
r 51 91623, 87211, 9723,5543,255
28, 0444,5835,429
11,4336,879
11, 352
52975
199129380224142
5,248
4,9393,625
490
3, 657177
10, 845
49465
184127394237
4,605
4,3093,225
447
3,821170
22, 3297,685
14, 6449,185
13, 144
22, 2577,680
14, 5779,081
13, 176
23,5621,773
388715295
1,1652,7467,5236,9942,523
5,756
5,2613,607
345572728
'50,88923, 15211,3843,5573,219
27, 7374,3975,507
11, 0626,613
' 52,26123, 80811, 7723,6043,312
28, 4534,5805,442
11, 7537,035
15,282
854129335180630237209
7, 718
7,4345,583
889
4,278180
10,544
49064
188122410249
4,431
4,2053,161
446
3,701147
23, 5147,753
15, 7619, 385
14, 129
22,0467,580
14, 4668,986
13,060
23,4111,732
390677286
1,1372,7457, 3876,8602, 506
5,874
5,3763, 578
396599727
50,70523, 44011,5283,4983,314
27,2654,2445,350
10, 9056,548
' 52 45823, 79011, 6093,6253,378
28, 6684,6035,431
11, 8007,110
8,991
35152
12490
360203138
3,300
3,1042,323
324
3,652123
10, 690
46562
170119394221
4,469
4,2123,114
475
3,773160
22,3127,331
14, 9818,744
13, 568
21, 8587, 508
14, 3508,862
12, 996
23, 8881,741
409673287
1, 1552,7147,6657, 1332,493
5,965
5,4863,650
399617753
51,72423, 89811,8273,5653,414
27, 8264,4165,357
11, 2816,704
r 52,48423,67911, 4943,6453,428
28, 8054,6105,428
11, 9337,140
9,104
32343
12185
365205133
3,395
3,1692,313
362
3,688121
10,866
46260
173122411228
4,538
4,2793,160
487
3, 907160
21, 8557,278
14,5778,695
13, 160
22, 0837,510
14, 5739,067
13, 016
24, 3631,767
417671290
1,1782,8147,7207,1902,534
6,088
5,5463,664
406632800
r 53,32424, 57212, 2143,6523,509
28, 7524,6085, 486
11,8887,132
* 52,63923, 67411, 4363,6703,433
28, 9654,6275,486
12, 0897,226
10,839
49662
178144396245137
4,310
4,0362,938
467
4,118179
11,027
48068
178125413247
4,656
4,3733,214
500
3,918192
21, 9007,359
14, 5418,865
13,035
22, 2497,633
14, 6169,128
13, 121
24, 3221,836
445675310
1,2192,7527,7957,2632,488
6,025
5,5333,643
396671769
54,03724, 92912,3133,7323,574
29, 1084,6745,510
12,0657,232
r 52,81423,74011,3873,6843, 467
29, 0744,6605,510
12, 1337,276
10, 502
45863
159130396227141
4,218
3,9892, 946
458
3,893178
11, 085
49773
172143430215
4,564
4,3093,158
511
4,059171
22, 0497,439
14, 6109,026
13, 023
22, 3057,603
14, 7029,128
13, 177
24, 8481,843
438703317
1,2212,7787,9747,4382,529
6,246
5,7313,838
423649766
54,29925, 08712, 4163,7353,612
29, 2124,5965,557
12, 1587,344
r 53,40223, 91511, 4123,7093,507
29, 4874, 6665,557
12, 2937,411
11, 220
48768
177135427267156
4,626
4,3713,246
490
4,049181
11, 451
51574
185142430260
4,844
4,5863,395
510
4,115169
22, 5027,640
14, 8629,449
13, 053
22, 5937,718
14,8759,323
13, 270
24, 5561,786
429681294
1,2272,7947,8247,2712,495
6,143
5,6323,792
393638776
r 53,69724, 70112, 0843,6923,568
28,9964,5095, 538
12, 1067,273
' 53,29323,66511, 0863,7033,508
29, 6284,6735,560
12, 4627,545
11,430
47267
171129441267164
4,635
4,3933,307
493
4,206200
11,313
47566
178122448253
4,758
4,5043,334
514
4,083168
22,4867,809
14, 6779,452
13,034
22, 4947,649
14,8459,252
13,242
24,874r 1, 801
'433'695'299
' 1, 204'2,818'7,956'7,374' 2, 577
'6,267
' 5, 801'3,899
422'643'785
' 52,79423, 59211, 0833,6913,543
29, 2024,5985,563
12, 1537,203
' 52,94023, 19410,5963,7253,529
29, 7464,7265,597
12, 3807,380
'10,892
'410'50
'153'111'417'278'152
' 4, 385
' 4, 165' 3, 102
465
'4,114'178
'11,445
'493'67
'180' 132'432'258
'4, 808
' 4, 590'3,398
522
' 4, 156'165
' 22,094'7,687' 14,407' 9, 124' 12,970
' 22,504' 7, 606' 14,898' 9, 163' 13,341
25,0431, 804
430703293
1,2282, 7947,9307,3532,650
6,320
5,7823,846
436652788
"51, 69321, 7499,1693,6723,536
29, 9444,8345,631
12, 5417,469
53, 10723, 03710, 4073,6903,579
30, 0704,7535,734
12, 5615,062
11,408
48451
181139437279156
4,829
4,5743,359
500
4,085187
11,574
48959
186133442256
4,879
4, 5973,369
514
4,203185
22,2967, 760
14, 5369,154
13, 142
22, 7247, 670
15,0549,231
13,493
1 24, 9 71
........
r Revised. l Advance estimate. fSee note marked "J" on p. S-ll. JSeries revisedto reflect benchmarking to the levels of the 1968-71 Annual Retail Trade Reports (CensusBureau), and also recalculation of seasonal factors for all lines of trade; description of revisionsand revised data appear on p. 55 ff. of the Dec. 1971 SURVEY (1968-69) and pp. 24-25 of the
Oct. 1972 SURVEY (1970-71). 9 Includes data not shown separately. §" Except departmentstores mail order. tfSee note marked "J" on p. S-ll; data prior to Feb. 1971 will be shownlater.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SUKVEY OF CURRENT BUSINESS •S-13
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept. *
LABOR FORCE, EMPLOYMENT, AND EARNINGS
POPULATION OF THE UNITED STATES
Total incl. armed forces overseas | mil__
LABOR FORCE §
Labor force, persons 16 years of age and over__thous__Civilian labor force - do
Employed total doAgriculture • _ -- d o _ _ _ _Nonagricultural industries do _
Unemployed - doSeasonally Adjusted
Civilian labor force doEmployed total do
Agriculture - _ _ d o _ _ _Noiiagricultural industries do
Unemployed doLong-term 15 weeks and over do
Rates (unemployed in each group as percentof total in the group) :
All civilian workersMen, 20 years and overWomen, 20 years and over ._ . _ . . _Both sexes 16-19 yearsWhiteNegro and other races
Married men --Occupation: White-collar workers
Blue-collar workers _Industry of last job (n on agricultural) :
Private wage and salary workersConstructionManufacturing
Durable goods -
EMPLOYMENT
Employees on payrolls of nonagricultural estab.:tTotal, not adjusted for seasonal variation. _ _thous__
Private sector (excl government) doSeasonally Adjusted
Total employees, nonagricultural payrolls J._doPrivate sector (excl. government) do
Nonmanufacturing industries* do _ _Goods-producing* _ _ _ _ - _ _ ~._ _ _ d o
Mining doContract construction do
Manufacturing doDurable goods -do
Ordnance and accessories __ _do_ _ _Lumber and wood products doFurniture and fixtures do _ _Stone, clay, and glass products _.-do_ __Primary metal industries _ . doFabricated metal products doMachinery, except electrical _ do.Electrical equipment and supplies, .doTransportation equipment doInstruments and related products .-doMiscellaneous manufacturing do
Nondurable goods doFood and kindred products doTobacco manufactures do _ _Textile mill products doApparel and other textile products, .doPaper and allied products , ._do_: '__Printing and publishing doChemicals and allied products—.— .doPetroleum and coal products do _ _Rubber and plastics products, nee _ doLeather and leather products. _ _do
Service-producing* _ _ _ __ _ _ _do _ _Trans., comm., electric, gas, etc doWholesale and retail trade... do. _
Wholesale trade doRetailtrade. ._ ... do....
Finance, insurance, and real estate doServices doGovernment . do_ ' _ _ _
Federal doState and local do
Production or nonsupervisory workers on privatenonagric. payrolls, not seas, adjusted J- _ _thous. .
Manufacturing ..do. _.Seasonally Adjusted
Production or nonsupervisory workers on privatenonagricultural payrolls t* th ous _
Goods-producing* _ do.. _Mining* doContract construction* doManufacturing do_ .
Durable goods _ doOrdnance and accessories.. do
1 204. 88
85, 90382, 71578,6273,462
75, 1654,088
662
4.93.54.8
15.34.58.22.62.8
5.29.75.65.7
'70, 59358, 058
'70, 59358, 05838, 71123, 352
6233,381
'19, 34911, 195
242573460640
1,3161, 3801,9821,9171, 799
460426
8, 1541, 783
83976
1,365706
1,1021,049
191580320
47, 2424,493
14, 9143,812
11, 1023,688
11, 61212, 5352,7059,830
r47,93414, 020
47, 93417, 313
4732,820
14, 0208,042
132
1 207. 05
86, 92984, 11379, 1203,387
75, 7324,993
1, 181
5.94.45.7
16.95.49.93.23.5
6.210.46.87.0
•'70, 64557 790
'70, 64557, 79039, 26222, 542
6023,411
'18, 52910, 565
192581458634
1,2271,3281, 8051,7681,724
437410
7, 9641,758
76957
1,336684
1,0711,008
191581302
48, 1034,442
15,1423, 809
11,3333, 796
11, 86912, 856
2, 66410, 191
'47, 73213, 434
47, 73216, 717
4512,832
13, 4347,598
96
207. 22
88, 45385, 67880, 6183,764
76, 8535,061
84, 31379, 1993,407
75, 7925, 1141,291
6.14.55.8
17.15.69.93.23.5
6.29.96.86.9
'70,52658, 272
'70,54857, 68939, 29622, 413
6123,408
' 18, 39310, 466
189586455634
1,1611,3271,7931,7541,722
436409
7,9271,757
73955
1,328677
1,065999189582302
48, 1354,397
15, 1863,800
11, 3863,804
11, 88912, 8592,663
10, 196
'48, 17813, 477
47, 63916, 625
4632,829
13,3337,526
207. 40
86, 88484, 13579,2953,444
75, 8514,840
84, 49179, 4513, 363
76 0885,0401,250
• 6 . 04.55.7
16.95.4
10.43.33.4
6.29.76.97.0
'71,16258, 482
'70, 84357, 96239, 44522, 571
6183,436
'18,51710, 552
188592465637
1,1921,3381, 8051,7651,720
439411
7,9651,762
75957
1,332690
1,0671, 002
190589301
48, 2724,420
15, 2323,817
11,4153, 821
11,91812, 8812,663
10, 218
'48,39613, 686
47, 900- 16, 777
4682,855
13, 4547,606
93
207. 59
87,35284, 63580, 0653,470
76, 5954,570
84, 75079, 8323,416
76 4164 9181,253
5.84.35.5
16.75 3
10.43.03.4
5.910.26.26.4
'71,37858 340
'70,86157, 93339, 43822, 491
5213,475
'18,49510, 547
187596467637
1,1911,3341,8041,7731,708
441409
7,9481,737
73960
1,336689
1,0691,002
190592300
48,3704,406
15, 2503,822
11,4283,835
11, 95112,9282,662
10, 266
'48, 25613, 569
47,84116, 686
3722, 888
13, 4267,600
93
207. 78
87,71585, 01980 2043,262
76, 9424,815
85, 11680, 0203,419
76 6015,0961,311
6.04.45.8
16.75.69.43.33.4
6.29.76.66.7
'71,64358, 487
'71,10358, 12239, 58822, 576
5243,518
' 18, 53410, 560
185601470639
1,1871,3341,8081,7731,713
441409
7, 9741,756
74965
1,341686
1,0671,001
190593301
48, 5274,403
15, 2993,830
11, 4693,847
11, 99712, 9812,666
10, 315
'48,39813, 558
48, 02116, 766
3742,924
13,4687,616
91
207. 94
87, 54184, 88380 1882,948
77 2404 695
85, 22580, 0983,400
76 6985,1271,273
6.04.35.8i
17.35 4
10.43.23.67. 5
6.311 26.96.7
'72,03958 814
'71,. 29158, 26039, 74122, 598
6113,468
'18,51910, 552
183601474638
1, 1841,3291,8091, 7791,705
438412
7,9671,755
72969
1,331686
1,068999192594301
48, 6934,432
15, 3333,840
11, 4933,855
12,04213, 0312,666
10, 365
'48,72713, 467
48, 14116, 780
4602,867
13, 4537,608
90
208. 08
87, 1472 84 553
79 1062,869
2 76 2372 5 447
85 70780 6363,393
77 2435,0711,198
5.94.25.5
17.85.3
10.63.03.6
6.19 86 46 7
'70,64257 464
'71,55258, 45939, 90822, 689
6153,523
' 18, 55110, 575
183604477645
1,1921,3351,8031,7781,699
442417
7, 9761,758
73973
1,328684
1,072, 998
189600301
48, 8634,455
15, 3793,849
11, 5303,867
12 06913, 0932,673
10,420
'47,38713,325
48, 33216,881
4652,924
13, 4927,637
90
208. 20
87, 31884, 77879 3662,909
76, 4585,412
85, 53580, 6233,357
77, 2664,9121,294
5.74.05.0
18.85.1
10.52.83.3
5.910 36 06.1
'70,77557 444
'71,74458 59939 98722, 719
6133 494
'18 61210 621
182604481646
1,1901 3411 8151,7861 712
443421
7 9911,751
73976
1,336685
1,072997193605303
49, 0254,438
15, 4563,863
11, 5933,874
12 11213, 1452,669
10, 476
'47,34913, 413
48, 44316, 889
4642,881
13, 5447,680
89
208. 31
87, 91485,41080 1953,094
77,1015,215
86, 31381,2413,482
77, 7595,0721,224
5.94.15.4
17.95.3
10.52.83.5
6.19.86.26.3
'71,39358 002
'72,01158, 83040, 14522, 811
6143,512
' 18 68510, 673
182606483650
1,2091,3471, 8141,7951 720
444423
8,0121,759
76981
1,334687
1,074997191609304
49, 2004,487
15, 5083,883
11, 6253,885
12 13913, 1812,667
10, 514
'47,88113, 521
48, 67716, 986
4662,904
13, 6167,729
89
208. 44
87,78785, 32480 6273,287
77 3394,697
86 28481, 2053,324
77 8815 0791,137
5.94.35.4
17.35.49.62.93.46.8
5.910.65.85.8
'71,97958 592
'72,24659. 02840, 23822, 888
6053,493
'18 79010, 755
185610486651
1,2151, 3601,8241,8051,747
447425
8,0351,756
77984
1,344691
1 076996191615305
49, 3584,481
15, 5613,894
11,667-3,892
12 20613, 2182 664
10, 554
'48,43113, 578
48, 84517,049
4562,882
13, 7117,805
91
208. 56
87, 98685, 56781 2233,531
77, 6924,344
86, 48681, 3943,353
78 0415 0921,180
5.94,35.9
15.75.3
10.72.93.66.8
6.012 56.06.3
'72,61259 182
'72,59259, 31840, 42623, 031
6043,535
'18,89210, 837
186610488660
1, 2281,370T, 8481, 8181 754
452423
8 0551,755
76988
1,334700
1,0801,002
190621309
49, 5614,490
15, 6323,914
11, 7183,913
12 25213, 2742,665
10, 609
'48,97913, 676
49, 12417, 183
4572,928
13, 7987,876
92
208. 70
90, 44888, 05582 6293, 976
78 6535, 426
86 39581, 6673,337
78 3304 7281 148
5 54.05.5
14.55.09.42.93.16.4
5.59 55 65.7
'73,46360 152
'72,69959 47540 54423 081
6003 550
'18 93110 857
188611490662
1,2221 3731 8581,8301 740
457426
8 0741 771
75991
1,329699
1 0791,001
190630309
49, 6184,491
15, 6823,926
11, 7563,931
12 29013, 2242 646
10, 578
'49,86213, 960
49, 24517, 231
4512,934
13, 8467,899
95
208. 84
91, 00588 61783 4434 061
79 3835 173
86 46781 6823 445
78 2374 7851 155
5 53 95.7
14 85 09 92 73.46.4
5 810 95 75 7
'72,46959 720
'72,66159 38240 52122 949
5993 489
'18 86110 843
190613494660
1,2141 3701 8551, 8261 743
456422
8 0181 757
75986
1,311698
1 076995188627305
49, 7124,473
15, 6923,913
11, 7793,927
12 34113, 2792,621
10, 658
'49,40713, 590
49, 12217, 114
4532,876
13, 7857,889
96
208. 98
90, 75888 36283 5054 031
79 4754 857
86 86081 9733 625
78 3484 8871 188
5 63 95.5
16 95 19.72.63.56. 5
5.811 65 45 0
'72,98360 302
'72,98059 66240 73023, 072
6033 537
'18 93210 899
191616496663
1,2351 3761 8701, 8351 733
458426
8 0331 739
71993
1,330699
1 078998189630306
49, 9084,487
15, 7433, 934
11, 8093,936
12 42413, 3182 618
10, 700
'49,95714, 039
49, 36017, 221
4562,916
13, 8497, 946
97
209 13
89, 09886 69382 0343 658
78 3764 658
87 04982 2223 575
78 6474 8271 137
5 53 85 4
16 55 0
10 22 83.36.1
5 69 25 14 8
73, 57260 379
73, 22159 81640 79723 163
6063 538
19 01910 969
193613495664
1 2711 3821 8741,8511 737
463426
8 0501 742
66993
1,332703
1 0801,005
189636304
50, 0584,490
15, 7743 954
11, 8203, 951
12 43813, 4052 636
10, 769
50,02514, 177
49, 49217, 296
4562,927
13,9138,002
98
'Revised. ^Preliminary. VAsofJulyl. 2See note § below. tSeenote"f," p. S-14.§ Effective Jan. 1972, data are adjusted to the 1970 Census; for comparison of Jan. 1972
(and subsequent months) with pre-1972 data, the following approximate amounts (in thous.)should be added to the earlier figure: Civilian labor force, 330; nonagricultural employed,290; unemployed, 30 (unemployment rates are unaffected). Also, effective Feb. 1972 SURVEY,data reflect new seasonal factors; comparable earlier figures appear in EMPLOYMENT AND
EARNINGS, Feb. 1972 (USDL, BLS).JEffective Oct. 1972 SURVEY, revised employment, hours, man-hours, and turnover data
incorporate adjustments to recent benchmarks and new seasonal factors; comparable dataprior to Aug. 1971 to appear in forthcoming EMPLOYMENT AND EARNINGS, 1909-72, BLSBulletin 1312-9.
*New series; see note "I".
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-14 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shown inthe 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept. J
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
EMPLOYMENT— Continued
Seasonally Adjusted
Production or nonsupervisoryij workers on pay rolls $—Continued
Manufacturing, durable goods industries— Con.Lumber and wood products thousFurniture and fixtures doStone clay and glass products doPrimary metal industries doFabricated metal products doMachinery except electrical doElectrical equipment and supplies doTransportation equipment doInstruments and related products doMiscellaneous manufacturing do_
Nondurable goods do_Food and kindred products doTobacco manufactures . - _ - -doTextile mill products doApparel and other textile products doPaper and allied products do _Printing and publishing do_.Chemicals and allied products doPetroleum and coal products doRubber and plastics products, nee doLeather and leather products do.
Service-producing* doTransportation, comm., elec., gas, etc*__.doWholesale and retail trade* do..
Wholesale trade* doRetail trade* do
F inanee , insurance , and real estate* _ doServices* do
AVERAGE HOURS PER WEEK
Seasonally Adjusted
Avg. weekly hours per worker on private nonagric.payrolls: J Seasonally adjusted hours _ _
Not seasonally adjusted doMining doContract construction ., d o _ - _ _Manufacturing: Not seasonally ad justed., .do
Seasonally adjusted doOvertime hours do
Durable goods doO vertime hours - do
Ordnance and accessories _ . _ doLumber and wood products doFurniture and fixtures doStone, clay, and glass products doPrimary metal industries . . -doFabricated metal products doMachinery, except electrical doElectrical equipment and supplies. _ _ _ . d oTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do
Nondurable goods doOvertime hours do
Food and kindred products doTobacco manufactures do -Textile mill products .doApparel and other textile products do
Paper and allied products doPrinting and publishing . doChemicals and allied products _do_ _Petroleum and coal products doRubber and plastics products, nec_ do. ..Leather and leather products do
Trans., comm., elec., gas, etc d o _ . _ _Wholesale and retail trade do
Wholesale trade doRetail trade .. do_.
Finance, insurance, and real estate, _ _.. _do_.Services do
MAN-HOURS
Seasonally Adjusted
Man-hours of wage and salary workers, nonagric.establishments, for 1 week in the month, season-ally adjusted at annual rate }_.bil. man-hours. .
Total private sector* .. .do...Mining. doContract construction doManufacturing doTransportation, comm., elec., gas. _ ._ _do_.Wholesale and retail trade doFinance, insurance, and real estate doServices . do
Government* doIndexes of man-hours (aggregate weekly) : J 11
Private nonagric. payrolls, total* 1967=100..Goods-producing* do
Mining*. doContract construction* do
••493379509
1,0431 0511,3231, 2651,241
278329
5,9781,201
69856
1,196543678602116443273
30, 6213,897
13, 2643,203
. 10,0612,918
10, 542
37.142.737.439.8
3.0
40.33.0
40.539.739. 241.240. 540.741.139.840.340.138.7
39.13 0
40.537.839.935.3
41.937.741.642.740.337 2
40.535.340iO33.836.834 4
r 138. 05112. 63
1 386.58
39.949.46
27.447.06
20 7725 42
103.797.4
100.9103.4
'500377503$68
1,0101,1781,1711,218
261316
5,8361 186
63839
1 168523654580117448258
31, 0153,844
13, 4393,181
10, 2582,984
10,748
""""37.6"42.337.339.9
2.9
40.42.8
41.740 339 841.640.440.440.639.940 739.838.9
3933 0
40.337.040.635 6
42 137 541. 642 440.337 7
40.235 139 833.737.034 2
r 137. 73111. 72
1 326.62
38. 349.29
27 747 30
21 1126 00
102.894.095.6
103. 5
5,807
31, 0143,795
13, 4723,171
10, 3012,988
10,759
36.937.442.037.239.839.8
2.9
40.22.8
41.840.339.941.838.840.340.840.040.239.839.1
39.33 1
40.137.140.735.8
42.337.541.542.440.337.7
40.635.139.733.637.234 2
'137.53111.48
1 346.61
38.009.25
27.767.37
21 1626 04
102. 693.397.3
103.1
'509383505934
1,0201,1801,1731,228
263318
5,8481,193
61840
1 165530651579117456256
31, 1233,824
13, 5143,182
10, 3323,003
10, 782
36.937.042.135.839.839.6
2.8
39.72.8
41.840.339.541.439.539.640.639.738.639.839.0
39.23 1
40.036.540.535.7
41.937.442.042.440.037.5
40.535 139.733.637.034 2
" 137. 58111.49
1 356.42
38.039.27
27.857.36
21 2126 09
102.6'93. 0
98.6100.2
'514384506935
1,0161,1771,1811,214
264316
5,8261,166
59842
1,168529652578117459256
31 1553,809
13, 5193,189
10, 3303,012
10 815
37.037.042.537.640.039 93 0
40.42.8
41.740 739 841.940.340.240.839.940 440.039.1
39 33 0
40.135 140.835 9
42 137.541.542.340.437 9
40.235.239.833.737.134 2
'138.18112. 07
1 156 81
38.299.18
27 967.41
21 2726 12
103.1'94.0
79.1106.4
'518387509930
1,0151,1831,1831,219
265316
5,8521,185
61847
1,172526651578116460256
31, 2553,807
13, 5633, 195
10, 3683,023
10, 862
37.137.042.339.040.240.13.0
40.62.9
41.940.740.041.840.440.541.140.140.740.139.1
39.53 0
40.035.641.136 2
42 337.641.542 040.638 2
40.435 239.933.737.034 1
'139.03112. 80
1 157.16
38.519.22
28 077 41
21 2926 22
103.9'95.3
79.2111.8
'517391507930
1,0111, 1821,1881,213
262317
5,8451,183
59851
1 162526651577118461257
31, 3613,830
13, 6003,202
10, 3983,025
10, 906
37.137,342.436.840.740.23.1
40.93.0
41.940.740.041.640.940.941.240.241.540.439.2
39 53 0
40.335.541.035.9
42 437.541.742.640.838 0
40.535 339 833.937.034 2
'139.38112. 99
1 356 66
38. 609.30
28 237 42
21 4326 39
104.1'94 9
97 6103.4
'519394514939
1 0161, 1781,1891,210
265323
5,8551 187
60855
1 158526655577115465257
31, 4513,857
13,6343,214
10, 4203,032
10 928
37.036.742.737.139.840 12.9
40.62.9
41.740 940 341.940.640.641.040.040 940.339 1
39 43 1
40.034 641.235 9
42 237.441.742 440 838 1
40. 235 139 833 737 334 1
'139.73113. 03
6 8038 509 31
28 177 50
21 4026 69
104.3'95 3
99 3106.3
'519397515940
1 0221 1891 1981,218
266327
5,8641 180
60857
1 165526654576117469260
31 5543,835
13, 7143,225
10, 4893,037
10 968
37.236 842.537.340.140 43 2
41.13.2
42.240 840 642.041.041.041.440.641 740 639 4
39 63 2
40.134 141.236 2
( 42 637 641.842 241 038 5
40.335 139 933 637 134 2
' 140. 40113. 60
1 366 78
38 899 30
28 277 47
21 5426 80
104.8'96 0
98 7105.3
' 520399519956
1,0281,1891,2051,229
266329
5,8871 186
63864
1 164529655575117473261
31, 6913,881
13, 7693,249
10, 5203,047
10 994
37.136.942.837.240.340 43 3
41 0q O
42.040 940 442 041.140.941.440. 241 740 339 2
39 63 3
40.634 541 435 8
42 737 641 842 241 038 2
40.435 239 933 637 134 1
' 140. 77113 97
1 376 79
39 oo9 43
28 377 50
21 5226 80
105.2' 96 5
99 §105.9
'524402519965
1 0381 2001 2141, 252
269331
5,9061 186
63865
1 173531656575117478262
31 7963,875
13, 8253,259
10, 5663,049
11 047
37.337 042 436 740.540 83 5
41 43 7
42.241 140 742 041.441.441 940 843 040 739 6
39 83 5
40.734 141 736 2
42 938 041 742 441 339 1
40.435 239 933 737 334 1
'141.72114 58
1 336 67
39 449 41
9g 597 55
21 6427 15
105.9r 97 5
96 7103 7
'524402526978
1 0491 2231 2231 257
273329
5, 9221 182
63868
1 166539658580117483266
31 9413,886
13 8943 279
10 6153 065
11 096
37.036 942 336 740.540 53 4
41 13 5
42 041 040 541 841 341.141840 441 940 639 4
39 63 9
40.433 741 235 6
42 537 741 642 o41 038 6
40.635 140 033 737 134 0
'142.04114 92
i 336 75
30 489 48
°8 687 55
°1 6627 13
106.2r 97 5
96 7105 .3
'526405528973
1 0531 2331 2371 241
276332
5,9471 202
63870
1 161'539656581117492266
32 0143,879
13 9243 286
10 6383 077
11 134
37.137 442 636 940.940 73 4
41 33 4
42 041 240 842 041 441.242 140 541 640 639 5
39 73 3
40.534 241 335 9
43 037 942 042 241 338 6
40.635 339 933 837 ?34 1
'142.59115 50
1 336 81
39 679 48
28 817 60
21 7927 09
106.7r 98 2
96 1infi i
'527409528966
1 0491 2311 2331 245
276329
5 8961 188
62867
1 140539655578116489262
32 0083,861
13 9123 273
10 6393 069
11 166
37.237 642 137 040.440 63 4
41 23 5
42 441 140 441 941 441.349 o40 341 340 439 3
39 63 3
40.434 341 236 0
42 838 041 841 g40 938 4
40.335 139 833 737 334 3
' 142. 29115 2°
1 316* 71
39* 469 37
28* 747 62
22 0127' 07
106.4r 97 3
95 4104. .3
r 531410530987
1 0561 2431 2411 242'277332
5 9031 167
58874
1 160540655579117491262
32 1393,865
13 9603 294
10 6663 076
11 238
37.137 642 537 140.640 63 4
41 33 6
42 841 9
40 541 741 641.342 440 441 240 639 5
39 83 2
40.335 441 336 1
42 938 041 641 941 438 9
40.635 139 733 737 134 0
' 142. 58115 71
1 336° 82
39* 719 47
28* 827' 59
91 O726 87
106. 8r 98 2
97 0infi n
528409530
1,0201 0601 2451 2561 244
280332
5 9111 170
54873
1 161'542653584117496261
32 1963,876
14 0003 311
10 6893 087
11 233
37.337 443 437 140.940 73 5
41 23 7
42 341 040 641 641 841.042 540 641 240 639 (j
39 73 2
40.134 241 336 1
43 038 241 842 241 138 7
40.435 039 833 537 134 4
143. 63116 09
1 376 82
39 82q 43
28 777 62
22 2527* 53
107.398 799 0
infi 4
' Revised. *> Preliminary. *New series.J See note "k" p. S-13.If Production and nonsupervisory workers.
NOTE FOR S-13: f.Revisions (back to 1960), to adjust to the 1970 Census, appear in "Esti-mates of the Population of the United States and Components of Change: 1940 to 1972"(P-25, No. 481), Bureau of the Census.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUEEENT BUSINESS S-15
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.*
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
MAN-HOURS— ContinuedIndexes of man-hours, private nonagric. payrolls,
goods-producing indus.t, Useas. adjusted — Con.Manufacturing .1967=100
Durable goods doNondurable goods do
Service-producing*. _ doTransportation, comm., elec., gas* doWholesale and retail trade* do
Wholesale trade* . . _ _ . - do_Retail trade* do
Finance, insurance, and real estate* doServices* _ _ _ - do
HOURLY AND WEEKLY EARNINGSAverage hourly earnings per worker^!
Not seasonally adjusted:Private nonagric. payrolls . dollars. .
Mining . .doContract construction doManufacturing . _ _ _ do; Excluding overtime . _ do
Durable goods doExcluding overtime _ _ _ _ do
Ordnance and accessories doLumber and wood products d6--_.Furniture and fixtures - doStone, clay, and glass products. . -doPrimary metal industries do ...Fabricated metal products doMachinery, except electrical-.. _ doElectrical equipment and supplies . doTransportation equipment doInstruments and related products. -doMiscellaneous manufacturing ind. do
Nondurable goods doExcluding overtime do
Food and kindred products doTobacco manufactures doTextile mill products - _ . d o _ _ -Apparel and other textile prod doPaper and allied products. _ _ . _ • • doPrinting and publishing do. . .Chemical and allied products doPetroleum and coal products -doRubber and plastics products, nee . doLeather and leather products do
Transportation, comm., elec.,, gas . . -doWholesale and retail trade do
Wholesale trade doRetail trade. .__ ... .. do
Finance, insurance, and real estate. ._ .doServices . _ _ _ do
Seasonally adjusted:*Private nonagricultural payrolls do
Mining _ ._ doContract construction do . _Manufacturing doTransportation, comm., elec., gas doWholesale and retail trade . do. .Finance, insurance, and real estate doServices - _ do
Indexes of avg. hourly earnings, seas, adj.: ®*1fPrivate nonfarm economy:
Current dollars _ 1967=100..1967 dollarsA do
Mining _ doContract construction doManufacturing doTransportation, comm., elec., gas doWholesale and retail trade - doFinance, insurance, and real estate doServices _ _ . do
Hourly wages, not seasonally adjusted:Construction wages, 20 cities (E NR) : d1
Common labor. _ _ _ _ _ _ _ _ _ _ $ per hr -Skilled labor do
Farm, without board or rm. 1st of mo do_-..Railroad wages (average, class !)._ do
Avg. weekly earnings per worker, private nonfarm:Current dollars, seasonally adjusted*. . _1967 dollars, seasonally ad justed* A .--Spendable earnings (worker with 3 dependents) :
Current dollars, seasonally adjusted1967 dollars, seasonally adjustedA
Current dollars, not seasonally adjusted :JPrivate nonfarm, total - dollars. .
Mining do .Contract construction doManufacturing do
Durable goods _ _ _ _ _ doNondurable goods do
Transportation, comm., elec., gas doWholesale and retail trade do
Wholesale trade doRetail trade do
Finance, insurance, and real estate do_-_ .Services— . do
96.294.299.1
104.9105.7106.9105. 2113.0111.3
3.223.855.243.363.243.553.433.612.962.773.403.933.533.773.284.053.352.83
3.082.973.162.912.452. 393.443.923.694.283.202.493.852.713.442.443.082.81
3.223.855.243 363.852.713.082.81
5.2247 3141.64
i 3. 939
119.46102. 72
104.6189.95
119.46164. 40195.98133. 73143. 07120.43155.9395. 66
137. 6082.47
113.3496.66
92.389 197.1
102.7106.7105.5107. 1116.1112.8
3.434.065.693.563.443.793.663.843.152. 903.664.233.743.993.484.413.52
. 2.97
, 3.263.143.383.152.572.493.674.203.944.573.402.604.202.873.672.573.283.01
3.434.065.693.564.202.873.283.01
.........
5.9568 2541.73
14.416
126.91104. 62
112. 1292.43
126. 91171. 74212. 24142. 04153. 12128. 12.168. 84100. 74146. 0786.61
121.36102. 94
91.487 896.6
109.0102.5106 6105.1107 2
, 116.9113.0
3.454.115 733.563.433 783.653. 883.202 943.744.283 744.023.494.353.552.96
3.273 153 353.182.582 493 734.243 984 583.432 594.252.873 702.573.303 00
3 464 155.763 594.242.893.313 02
130.8107 2129 3139 4128.6131.0129. 5128.1132 0
6,1568 471
127. 67104. 62
92.36
129.03173. 44220.03141.69151. 20129. 17172. 98103. 32147. 6389. 18
123. 09104. 10
r 91.687 897 1
109.3103.0107 0105.4107 5116.9113.2
'3.504.165 833 603.463 823 683 893.222 953 754.343 774 043.514.393.562 983 313 183 383 012 582 523 764.294 034 663.462 624 332.903 722 603 303 06
3 484 165 783 604^302 903.313 04
131.4107 5129 8140 0128.9132.5129.6128.1132 9
6 1858 515
128 41105.08
113 3092.72
'129.50175. 14215. 13143. 28152. 80130. 75176.66102. 08147.6887 62
121.77104.35
r92.389 197 0
109.5101.8107 3105.9107 8117.5113 6
'3.503.925 873 593.463 823 683 903.222 933 734.343 764 043.504.413.542 97
3.293 173 383 002.592 513 734.274 004 653.452 634 312.903 722 603 313 06
3 493 915 813 594.312 903.323 06
131.8107 7126 1140 9129. 3133.1130.0128.4133 1
6 1828 5111.70
129 13105. 51
113 8693.03
'129.50167. 78224. 23143 60154 71129.63174. 12101.50148. 0687 10
122.80104.35
'93.089 797.8
109.8102.3107.7106.4108 2117.6113.7
' 3. 493.935 873 593.463 823 683.873.212 933 724.363 774 043.504.413.552 983 293 173 413 072.592 513 734.284 004 643.442 624 322. 913 742 603.303 06
3 493 905 833 594.312 913.303 06
131.8107 5126 6141 5129.0133.5130.0127 7133 5
6 1828 511
129 48105. 59
114 1493.08
'129.13166. 24222.47144 32155. 47130. 28175.39101. 56148. 8586 84
122. 10104.04
'93.390 297.7
110.5103.1108 4106.4109 2117.7114.5
'3.524.285 90
^ 3 693 553 923 783 983.192 983 744 493 864 153.584.593.613 06
3 373 243 523 292 622 543 804 364 064 643.512 654 402 913 782 613 343 09
4' 285 883 684.402 943.353 09
133 6108 6132 8142 2131.3136.0131.7129 5134 6
6 2288 551
4.645
130 96106 47
115 3193 75
'131.30182 76214. 76150 18162 29134. 13178.64103. 31151.9689 00
123. 58105. 68
'93.290 197 7
110. 5103.1108.2106.8108 8118.9114. 4
'3.554.345 963 703.583 943 803 983.212 983 764.533 884 163.594.573.663 083 393 263 533 322 692 553 814 364 104 833.522 684 452 973 822 663 403 12
3 554 325 913 694.452 963.393 11
134 6109 1134 3143 3132.1137. 5132. 4130 8136 2
6 2768 6361.82
131 35106 48
117 3095 09
'130.29184 02213. 37147 26158 78132 55177.11103 06151 2788 31
126.82105. 77
'94.391 698 3
110.8102.8108.7107.4109 2118.5115.2
' 3. 564.335 953.723.593 963 814.033.212 993 784.543 894 183.604.623.683 07
3 403 273 543 382 712 573 834 364 124 873.522 704 472 983 822 663 403 13
3 564 315 933 724 462 963.373 12
134 8108 7134 1143 8132 7138.0132.4130 2136 1
6 3198 742
132 43106 75
118 1595 24
'131.01181 43214. 20149 17161 17133 28179. 69103 11151 6587 78
126. 14106.42
'94.892 098.8
111.3104.3109 1108.2109 5118.9115.1
'3.584.325 943 743 603 983 834 013.233 023 824 563 924 203.624.643.693 07
3 413*283 563 402 712 573 844 404 114 883.522 704 502*983 832 673 403 14
3 594 315 973 744 532 973.383 14
135 5109 2134 6144 6133 2139.8132 9130 9136 5
6 3338 7co
133 19107 32
118 7595 69
'132.10182 30218. 59150 72163 18134 35180. 90103 70152 4388 64
126. 141f)fi 7fi
96.494 199.8
111.8104.1109.8108.5110 3119.6115.7
'3.614.365 963 763 624 013 854 063. 263 033 854 603 944 223.624.693.703 09
3 433 303 593 462 712 583 864 444 124 933.552 704 553 003 862 683 453 16
3 624 356 013 764 572 993.443 17
136 7110 0135 7145 3133 9141.7134 0133 4137 9
6 3458 81 8
1 84
135 03108 62
120 2096 69
'133.57184 86218. 14152 9g165 21135 49181. 55104 40153 2489 24
128. 69in? 44
'96.294 299.1
112.2104.9110.5109.5110 8119.6115.8
'3.624.336 013 783 634 023 864 073.293 033 874 613 954 243.644.713.713 10
3 443 313 613 492 712 573 874 474 164*953.552 714 572 993 842 693 433 15
3 624 346 023 784 582 983^433 15
136 7109 6135 2145 4134 5141.8133 6132 5137 5
6 3878 Sfi7
133 94107 39
119 3495 69
'133.58183 16221. 17153 09165 6^135 88184. 17104 05152 8389 58
' 126! 91iftfi 47
'96.994 6
100 1112.7104.7110 9109.4111 4120.4116.6
'3.634.345 943 793 634 033 864 093.333 053 914 623 984 263.654.693.713 103 453 313 593 532 722 593 924 474 204 943.562 704 583 003 852 693 433 14
3 634 376 013 794 593 003.433 15
137 1109 8136 3145 6135 0141.7134 4133 0137 4
6 460
134 67107 92
119 9296 10
'135.76186 62223.34155 01167 65137 66186. 86106 50154 0091 73
127. 60107 20
' 96 294 299 0
112 6103.5110 4108 7111 1120.4117 6
'3.644 355 963 783 634 013 854 103.343 043 934 693 974 243.664.633.703 09
3 483 343 593 572 712 583 974 494 234 973.612 704 663 013 872 703 453 14
3 644 396 013 794 653 023.453 14
137 8110 0137 3"MR ft
135 3144.0135 3133 9138 0
6 531
1 85
135 41108 06
120 5096 16
'136.86184 44225. 88152 71164 01138 16189. 66108 36155 1993 69
129.031OQ 97
'96 995 299 3
112 8104.3110 8109 1111 3120.0117 3
3.654 376 023 803 644 043 874 113.343 073 964 694 004 263.684.693.723 09
3 473 333 563 362 732 623 984 494 224 953.632 714 683 003 862 693 443 15
3 664 416 053 834 683 023.453 17
138 3110 1137 9146 ~ 6135 9144.4135 4133 5138 3
6 6089 H7S
135 79108 10
120 8096 16
'137.24186 60229. 96154 28166 04138 80190. 48108 00154 0193 61
127. 97108 fiS
97 395 999 4
113 2104.1110 7110 0110 9120.5118 6
3.714 446 143 853 684 103 914 153.363 123 994 744 054 343.724.773.743 12
3 513 363 593 332 752 643 994 574 265 023.652 724 713 043 902 723 453 20
3 684 446 093 854 673 043.463 18
138 8110 0138 9147 4136* 6144.5135 9134 3138 6
6 629 91
al 82
137 26108 76
121 9696 64
'138.75192 70235. 16157 47170 15140 40191. 23106 70155 2291 39
127. 65mo 7fi
' Revised. » Preliminary. 1 Includes adjustments not distributed by months.JSee corresponding note, p. S-13. ^Production and nonsupervisory workers. *New
series. a As of Oct. 1, 1972.QSource, USDL, Bureau of Labor Statistics; the indexes exclude effects of changes in the
proportion of workers in high-wage and low-wage industries, and the total and manufacturing
indexes also exclude, for the manufacturing sector only, effects of fluctuations in overtimepremiums. See also note "J," p. S-13. cfWages as of Oct. 1, 1972: Common; $6.71; skilled,$9.24. A Earnings expressed in 1967 dollars are adjusted for changes in purchasing powersince the base period, 1967, by dividing by the Consumer Price Index for the respective period.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-16 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownIn the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued
HELP-WANTED ADVERTISINGSeasonally adjusted index 1967=100__
LABOR TURNOVER*Manufacturing establishments:
Unadjusted for seasonal variation:Accession rate, total
mo. rate per 100 employees. _New hires do
Separation rate, total. doQuit - doLayoff -- do
Seasonally adjusted:Accession rate total do
New hires doSeparation rate total do
Quit -_ _ d o _ _ _ _Layoff do
INDUSTRIAL DISPUTESWork stoppages:
Number of stoppages:
In effect during month doWorkers involved in stoppages:
Beginning in month or year thousIn effect during month do
IVIan-davs idle during month or year doPLACEMENTS, UNEMPLOYMENT
INSURANCE
Unemployment insurance programs:
State programs:Initial claims do
Percent of covered employment:^UnadjustedSeasonally adjusted
Benefits paid mil $Federal employees, insured unemployment,
average weeklv thousVeterans' program (UCX):
Initial claims doInsured unemployment avg weekly doBeneficiaries average weekly doBenefits paid mil $
Railroad program:Applications thous
Benefits paid mil. $
92
4.02.84.82.11.8
5 716
3 305
66 414
3 845
2 070
15 3871 805
3.4
1 5183 848 5
31
5567975
203.2
12818
38.7
80
3.92.54.21.81.6
5 135
3,263
47 417
3 700
9 593
15 3372 150
4.1
1 814*4 957 0
34
622131115
356. 0
60926
75.7
85
5.33.45.52.81.8
4.2'2.7'4.4
1.91.9
437890
182490
5,022
367
2,349
1,2771,912
3.64.2
1,472433.6
35
54120116
31.6
9832
8.7
80
4.8'3.4
5.32 91.5
3.9'2.6'4.0'1.8' 1.6
351668
108316
3,110
353
2,174
1,0431,739
3.34.3
1,328'400.3
33
48106107
29.6
10033
11.1
80
'3.92.74.31.91.5
'3.8'2.5
4 01.7
'1.5
304551
246312
5,481
313
2,129
1,0481,716
3.24.4
1,280367.2
35
439795
25.0
4827
7.6
81
3.32.23.71.51.5
4 1'2.8
4 11.91 4
315561
235450
5,032
317
2,311
1,3361,879
3.54.2
1,352406.9
35
5110595
26.1
1948
9.9
85
2.51.63.81.21.8
3.92.7
'4 31.91.4
218485
44236
3,103
266
2, 666
1,6232,221
4.23.8
1,640489.6
35
59118108
29,2
733
8.9
85
4.1'2.6
4.01.71.4
4.4'3.0
4 22.01.3
310470
83155
2,303
3,097
1,6432,524
4.83.4
2,136550.9
37
68133126
30.0
835
8.0
87
3.72.43.51.61.1
'4 43.0
'4 22.11.2
320480
61140
1,618
3 123
1,2412492
4.73.5
2,112589.5
36
57140131
33.6
427
6.2
90
4.02 73 81 91 1
' 4 43 1
'4 32.21 2
400580
127165
1,544
2,923
1,0952,279
4.33.5
2,071628. 9
34
54136137
38.3
426
6.0
93
4.0' 2.9
3.72 01 0
' 4 3'3 2
4 02.1
' 1 1
440640
146217
2,031
2,431
9472,005
3.83.6
1,830472.9
30
48127127
31.7
323
4.1
93
4.83.6
'3.92 2.8
4 73.5
r 4 22.31 0
510720
126203
2,139
2, 105
9911,740
3.33.7
1,506429.2
28
47119114
'32.6
216
3.5
96
5.24 14 22 21 I
' 4 02 94 62 31 4
425670
311388
3,513
1,952
1,0951,636
3.13.6
1,342382.1
29
43110112
30.9
1014
2.8
103
4.6' 34' 4 8
2 2'17
4 3'32r A A
2 2'12
380640
177426
3,185
' 2, 088
1,3781,823
3.43.7
* 1,376* 364.3
38
40107
*104P27.5
2718
2.9
106
P5.9v 4 5*> 5 51,3 g
v 9
p 4 7v 3 7% 4 5P 2 5v 1 0
360630
108198
2,492
* 1,763
*> 1,565
2.93.4
*39
?95
1017
3. 7
P 99
FINANCE
BANKING
Open market paper outstanding, end of period:Bankers' acceptances mil $Commercial and finance oo. paper, total._.,-do
Placed through dealers doPlaced directly (finance paper) do
Agricultural loans and discounts outstanding ofagencies supervised by the Farm Credit Adm.:
Total end of period mil $Farm mortgage loans:
Federal land banks doLopns to cooperatives do
Bank debits to demand deposit accounts, exceptinterbank and U.S. Government accounts,annual rates, seasonally adjusted: 0
Total (233 SMSA's)O _ bil. $._New York SMS A do
Total 232 SMSA's (except N Y ) do6 other leading SMSA's f do226 other SMSA's do
Federal Reserve banks, condition, end of period:Assets, total 9 — . mil. $_.
Reserve bank credit outstanding, total 9 __doDiscounts and advances do____U.S. Government securities do
Gold certificate account.. ._ __do
Liabilities, total 9 __ ._ . . ._do__»_
Deposits, total _ . _ ___do _Member-bank reserve balances do
Federal Reserve notes in circulation.__.__do
7,05831,76512, 67119,094
14, 774
7, 1872,0305, 557
90, 157
66, 795335
62, 142
10,457
90, 157
26,68724, 150
51,386
7,88931,10311,41819,685
16,347
7,9172,0766,354
99,523
75, 82139
70, 218
9, 875
99, 523
31,47527, 780
54,954
8,37730, 05711, 94818, 109
16, 107
7,7091,9426,456
12,093.85,408.9
6,684.82,783.73,901.2
92, 154
70, 094858
66, 868
9,875
92, 154
27, 18725, 409
52, 829
8, 14829, 94612, 30417, 642
16,044
7,7661,9426,336
12,202.25,570.3
6,631.92,757.53,874.4
93,755
71,013198
67, 566
9,875
93, 755
28,46725,422
52,830
7,81131, 20512,35118,854
16, 211
7,8262,0306,355
12,221.45,755.8
6,465.62,683.23,782.5
95,256
71, 150211
67, 205
9, 875
95,256
28, 44125,697
53,121
7,47931, 16412, 23118,933
16, 194
7,8702,0766,248
12,915.75,918.9
6,996.92,945.24,051.6
93, 698
71, 004146
67, 817
9,'875
93,698
26, 58823, 718
54, 186
7,8892 31,10311,418
2 19,685
16,347
7,9172,0766,354
12,383.25,523.3
6,859.92,859.84,000.2
99,523
75,82139
70, 218
9,875
99, 523
31, 47527, 780
54, 954
7,60132,16712,42719,740
16,456
7,9712,0986,387
12,530.75,687.0
6,843.72, 803. 14,040.6
96,551
72,17615
69, 552
9,875
96,551
29,47125,650
53, 801
7,93532,57912, 78719,792
16, 684
8, 0392,1496,496
13,027.86, 013. 9
7,013.92, 913. 14, 100. 9
94,126
71, 2196
67,698
9,475
, 94,126
27, 25225, 525
53, 914
7,98532,68112, 77819,903
17, 083
8,1392,2676,677
12,785.55, 631. 4
7,154.22,932.94,221.2
96, 849
74, 365255
69, 928
9,475
96, 849
30, 52727,869
54, 340
7,73432, 81412, 92619, 888
17, 299
8, 2382,2606,801
13,169.35, 801. 4
7,367.93,053.14,314.8
98, 197
74, 40560
70, 307
9,475
98, 197
30,15227,415
54, 478
7,44333, 05512, 56020,495
17,461
8,3432,1816,937
13,400.35, 939. 2
7,461.13, 148. 84,312.2
101,533
77,2341,594
71,607
10,303
101,533
32,42329,538
55, 210
7,06933, 48212, 86720,615
17, 667
8,4302,1457,092
13,281.55, 780. 8
7,500.73, 096. 44,404.3
99,746
75, 964130
71, 356
10,303
99, 746
30, 94227, 482
55, 702
6,64333,89112,92320, 968
17, 654
8,5172,1377,000
'12,995.45,633.0
'7,362.52, 996. 3'4,366.2
99,440
74, 15483
70, 822
10, 303
99,440
29,26326,185
56, 127
6,63932, 99812, 94420, 054
17,722
8,6312,1566,935
13,967.76,451.8
7,815.93,233.04, 582. 9
'99,541
'76,474' 1, 09270, 740
10,303
'99,541
'30,738'28,227
56, 347
*98, 667
74, 868239
69, 874
10,303
"98, 667
29, 72827, 524
56,351
'Revised. *> Preliminary. l See note "§", this page. 2 Beginning Dec. 1971, dataon new basis reflect inclusion of paper issued directly by real estate investment trusts andseveral additional finance companies. § Average weekly insured unemployment (all pro-grams) data include claims filed under extended duration provisions of regular State laws;amounts paid under these programs are not included in the 1971 annual figure.
JSee note "J", p. S-13.
c?Insured unemployment as % of average covered employment in a 12-month period.© Series revised to reflect recalculation of seasonal factors and trading-day adjustment;
revisions for periods prior to Feb. 1971 will be shown later.GTotal SMSA's include some cities and counties not designated as SMSA's.^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los
Angeles-Long Beach. 9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-17
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
End of year
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FINANCE—ContinuedBANKING- Continued
All member banks of Federal Reserve System,averages of daily figures:
Reserves held, total mil. $Required doExcess do .
Borrowings from Federal Reserve banks _ _ _ d o _ _ _ _Free reserves do
Large commercial banks reporting to Federal Re-serve System, Wed. nearest end of yr. or mo.:
Deposits:!Demand, adjustedd1 mil $
Demand, total 9 .. do __Individuals, partnerships, and corp doState and local governments... doU.S. Government _ _ _ _ ._ . do _Domestic commercial banks . __do
Time, total 9 _ _ _ _ _._ -do .Individuals, partnerships, and corp.:
Savings v doOther time. do
Loans (adjusted), totald*t doCommercial and industrial _ doFor purchasing or carrying securities __ __do .To nonbank financial institutions _ _ _ doReal estate loans. _ __ _ doOther loans do
Investments, totalj__ . doU.S. Government securities, total _.do
Notes a n d bonds _ . d oOther securities do
Commercial bank credit (last Wed. of mo., exceptfor June 30 and Dec. 31 call dates) , seas, adj . :
Total loans and investments© __bil. $Loans O doU.S. Government securities doOther securities.. _ . do
Money and interest rates: §Bank rates on short-term business loans:
In 35 centers.. percent per annum..New York City do....7 other northeast centers do
8 north central centers do7 southeast centers... do8 southwest centers do4 west coast centers do
Discount rate (N.Y.F.R. Bank), end of year ormonth •._, percent--
Federal intermediate credit bank loans do
Home mortgage rates (conventional 1st mort-gages):
New home purchase (U.S. avg,,) percent--Existing home purchase (U.S. avg.) do
Open market rates, New York City:Bankers' acceptances (prime, 90 days) doCommercial paper (prime, 4-6 months) ..doFinance Co. paper placed directly, 3-6 mo.doStock Exchange call loans, going rate, _.do . .
Yield on U.S. Government securities (taxable):3-month bills (rate on new issue) percent-.3-5 year issues do
CONSUMER CREDIT(Short- and Intermediate-term)
Total outstanding, end of year or month mil. $..
Installment credit, total.. do__.
Automobile paper _ doOther consumer goods paper. _ _ _ _ . _ _ _ doRepair and modernization loans doPersonal loans _ _ „ _ do
By type of holder:Financial institutions, total do
Commercial banks do. .Finance companies.. do
Credit unions _. _ _ do .Miscellaneous lenders do
Retail out lets, total..— „_ doAutomobile dealers do_
i 29, 265128,993
12721321
1-49
87, 739
147, 355103, 149
6, 7744,380
21> 704
119, 443
48, 03551,650
180, 42981, 6938,560
13, 64234, 03550, 906
72, 19428,06121,98344, 133
435. 9292.058.085.9
2 8. 482 8. 222 8. 86
2 8. 462 8. 442 8. 522 8. 49
5.50
2 8. 50
2 8. 272 8. 20
37.3137.7237.2337.95
3 6. 45837.37
126,802
101, 161
35, 49029,9494,110
31, 612
87, 06441,89531, 123
12, 5001,546
14, 097327
131,329131,164
1 1651 107158
91, 683
152,699106,885
6,5637, 571
20, 880
140, 932
54,54261,274
192,23883, 7708,835
14, 50438, 40057, 183
81,033'28,94424,605
( 52, 089
485.7320.660.7
104.5
26.322 6. 012 6. 56
2 6. 302 6.6226.462 6. 38
2 4. 75
26.37
27.5927.54
34.8535.1134.9135.73
34.33835.77
137, 237
109, 545
38,31032,4474,356
34,432
94,08645, 97632, 140
14, 1911, 776
15,459360
30, 45530, 257
198804
-606
84,699
145, 01299,5886,6014,83821,934
134,161
52,96958,417
185,35882,6717, 707
14,03836,73453,400
74,22824,92122,11349,307
468.4309.760.997.8
6.516.256.77
6.466.776.646.54
5.00
6.00
7.607. 58
5.575.735.576.00
5.0786.39
129, 704
104, 060
37, 15429, 4774,295
33, 134
90, 53644, 11231,098
13, 5701,756
13,524347
30, 80230, 596
206501
-295
82,082
141, 16096,3336, 3685, 647
21,200
136, 161
53, 31359,737
186,25683,4357,74313,61737,20654,083
75,16025, 08022,40050,080
472.4313.059.999.5
5.00
5.99
7.677.63
5.495.755.446.00
4. 6685. 96
130, 644
104 973
37, 38329, 8404,330
33, 420
91, 27944, 60331, 133
13,7801, 763
13, 694349
30, 86030, 653
207360
-153
82,842
144, 435100,492
6, 1123,55122,730
137, 160
53, 60560,294
186,00383,0037,78713,20437,55751,927
77,20926, 18723,34051,022
477.2317.059.1
101.1
5.00
6.00
7.687.62
5.055.545.305.92
4.4895.68
131, 606
105 763
37, 75930, 0724,357
33, 575
91, 94344,94731,331
13,8751,790
13, 820354
30,95330,690
263407
-144
87,258
149, 106103,293
7,1962,237
24,305
138, 217
/ 54, 12460,890
188,92482,8758, 675
13, 89538,04955,161
79,94428 29824', 56651,646
479. 8318.758.8
102.2
6.185.866.40
6.136.476.436.21
4.75
6.12
7.657.56
4.784.924.815.53
4.1915.50
133, 263
107, 097
38, 16430, 5864,370
33, 977
92, 90145, 39631, 643
14, 0521,810
14, 196359
31,32931,164
16510758
91, 683
152, 699106,8856,5637, 571
20,880
140,932
54, 54261,274
192,23883,7708,835
14,50438,40057,183
81,03328,94424,60552,089
485.7320.660.7
104.5
4. 75
6.12
7.627.51
4.454.744.605.36
4. 0235.42
137, 237
109, 545
38,31032, 4474,356
34,432
94, 08645, 97632, 140
14, 1911,776
15,459360
32,86532, 692
17320
153
87,329
146,56499,9637,7144>531
22,211
142,532
55,869 '61,371
190,04082,0478,84413,84438,88756,867
80,54827,88123,97252,667
491. 4325.759.7
106.0
4.50
6.29
7.627.45
3.924.083.954.89
3.4035.33
135, 830
108, 826
38, 11132, 0964,319
34,300
93, 66845,87831, 948
14,0621,780
15, 158359
31,92231,798
1243391
86, 494
151, 788102, 735
7,3113,518
26, 500
144, 286
56, 57862, 085
192,31782,6379,765
14,35739, 17857,031
81, 00127, 92723, 78253, 074
496.6328.561.0
107.1
5.525.355 72
5.375.875 795.39
4. 50
6.20
7.457.35
3.523.933. 784.63
3.1805.51
135, 253
108 634
38, 23931, 6154,332
34, 448
93, 95545, 96331, 979
14, 1261,887
14, 679360
31,92131,688
23399
134
91,037
143,920100,628
6,5755,579
20, 190
144,863
57, 61661,926
194, 53883,9059,525
14,68139,68858,870
81,49227, 74923, 28153, 743
' 505. 0' 333. 8'62.3
«• 108. 9
4.50
6.20
7.387.31
3.954.174.034.55
3.7235.74
136, 135
109, 481
38, 76231, 6824,354
34, 683
94,85346, 41532, 221
14,3281,889
14, 628366
32,56532,429
13610927
88,996
148, 503101,536
7, 1658,614
20, 693
147, 119
57, 29562, 610
199, 50885,49810, 62914, 67740, 42359,215
81, 17927, 07623, 46154,103
'507.4' 335. 9'•62.6
'108.9
4.50
6.00
7.387.30
4.434. 584.384.88
3.7238.01
137, 791
110 734
39,33731, 8824,417
35, 098
96, 10447, 14832, 530
14,4941,932
14, 630372
32,81232,708
104_ 119
-15
90,923
; 150,176105,304
7,2005,02721,540
149, 089
57,62464,414
199,99984, 79010,50014,83741,04958,815
81, 15926, 95823, 11454,201
' 516. 1' 341. 9'63.1
'111.1
5.595 285 81
5 545 785.885.60
4.50
5.90
7.407.33
4.254.514.385.00
3.6485.69
139, 963
112 477
40, 11932,3094,497
35, 552
97, 74848, 03232,957
14,7971,962
14, 729381
32,53932,335
20494
110
91,211
146,201102,3586,8775,721
20,034
149,658
57,84465,476
203,08284,95310,62115,95741,89561,140
80,06326,00922,38454,054
',"517. 5' 343. 7'63.2
'110.6
4.50
5.86
7.417.36
4.474.644.455.00
3.8745.77
142, 215
114, 567
41, 10432,8414, 571
36, 051
99, 73449,16733,470
15, 1751,922
14, 833391
33, 03232, 876
156203
—47
91,915
147, 379104,096
6,7494,467
20,957
152,123
57, 89267, 564
206,43785, 32111, 45616, 20342, 74262, 817
79,96725, 77022,50254, 187
' 521. 9' 348. 4r62.3
' 111. 2
4.50
5.81
'7.437.37
4.734.854.725.23
4.0595.86
143, 456
115, 832
41,67833, 2034,617
36,334
15,83249,87933, 823
15,2931,918
14, 919397
'33,148'32,893
'255'438
'-183
91,355
140, 450102,374
6,0381,715
20,357
155, 510
59, 82770, 796
206,39884, 99010,94716,41743,44861, 951
80,03325,65122,08554,382
' 529. 8' 356. 2'61.4
'112.3
5.845.556 14
5 796.066 075 82
4.50
5.81
7.457.39
4.674.824.585.25
4.0145.92
145, 557
117, 737
42, 34633, 8314,689
36,871
02, 60650,89834, 208
15, 6381, 862
15, 131403
P 32, 984"32,838
*146*515
p-369
91, 964
146, 133103, 234
6,4916,479
20,010
156, 287
58,06970, 804
211, 03186, 64711, 28617, 02744,12663, 098
81, 01526,30721, 53554,708
535.3360.062.0
113.3
4.50
7.427.40
4.845.134.915.25
4.6516.16
r Revised. *> Preliminary.i Average for Dec. 2 Average for year. 3 Daily average.cTFor demand deposits, the term "adjusted" denotes demand deposits other than domestic
commercial bank and U.S. Government, less cash items in process of collection; for loans,exclusive of loans to and Federal funds transactions with domestic commercial banks and
after deduction of valuation reserves (individual loan items are shown gross; i.e., before deduc-tion of valuation reserves). •
tRevisions for months prior to Feb. 1971 will be shown later.9Includes data not shown separately. ©Adjusted to exclude interbank loans.§For bond yields, see p. S-20.
478-721 O - 72 - S3
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-18 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FINANCE—Continued
CONSUMER CREDIT— ContinuedOutstanding credit — Continued
Noninstallment credit, total mil $_.Single-payment loans, total do
Commercial banks - . . __doOther financial institutions do
Charge accounts, total __doRetail outlets do ..Credit cards _ -do
Service credit _ _ d o _ - _ _
Installment credit extended and repaid:Unadjusted:
Extended total doAutomobile paper doOther consumer goods paper _ _ .do _ _All other do
Repaid, total _ do __Automobile paper doOther consumer goods paper doAll other __do
Seasonally adjusted:Extended total do
Automobile paper doOther consumer goods paper doAll other do
Repaid total doAutomobile paper doOther consumer goods paper doAll other do
FEDERAL GOVERNMENT FINANCEBudget receipts, expenditures, and net lending:
Expenditure account:Receipts (net) mil. $Expenditure (excl. net "lending) do
Expend, a cct. surplus or deficit (—) _doLoan account:
Net lending do . -
Budget surplus or deficit ( — ) doBudget financing, total do
Borrowing from the public .2 doReduction in cash balances do
Gross amount of debt outstanding doHeld by the public - do
Budget receipts by source and outlays by agency:Receipts (net) total mil $
Individual income taxes (net) . _doCorporation income taxes (net) doSocial insurance taxes and contributions
(net) mil. $Other do .
Outlays total 9 doAgriculture Department . do ..Defense Department, military ... . _doHealth, Education, and Welfare Department
mil. $..Treasury Department .. . do .--National Aeronautics and Space Adm doVeterans Administration - -do
Receipts and expenditures (national income andproduct accounts basis), qtrly. totals seas. adj.at annual rates:
Federal Government receipts total bil $Personal tax and nontax receipts.. ...doCorporate profit tax accruals doIndirect business tax and nontax accruals-doContributions for social insurance do
Federal Government expenditures, total.. _doPurchases of goods and services do
National defense j doTransfer payments doGrants-in-aid to State and local govts doNet interest paid doSubsidies less current surplus of government
enterprises bil $
Less : Wage accruals less disbursements___do
Surplus or deficit (— • ) do
LIFE INSURANCE
Institute of Life Insurance:Assets, total, all U.S. life insurance cos bil. $_.
Government securities. ... ...doCorporate securities .--_.... .do ....Mortgage loans, total. _ _ _ do
Nonfarm do
Real estate. __ .doPolicy loans and premium notes _ _ _ / doCash j.._ __.do__-_Other assets do
25,6419,4848,2051,279
8,8506,9321,9187,307
104, 13029,83136, 78137, 518
101,13830,94334,44135,754
i 193,743* 194,460i -716
i -2,128
i -2,845i 2, 845i 5, 397
1-2,552
i 382,603i 284,880
i 193,743190,412i 32, 829
145,298i 25, 203
1 196,588i 8, 307
i 77, 150
i 52, 3381 19, 510i 3, 749i 8, 653
191.692.430.419.349.5
204.596.575.163.324.514.6
5.5
-12.9
207. 2511.0788.5274. 3868.73
6.3216. 061.769.15
27, 69210, 3008,9161,384
9, 8187,5972,2217,574
117,63834,63840,97942, 021
109, 25431, 81838, 48138,955
1188,3921210,3181-21,927
1-1,107
1-23,033123,033i 19, 448i 3, 794
1409,4681 304, 328
1 188, 392i 86, 230126,785
i 48, 578i 26, 798
1 211, 425i 8, 560
174,546
i 61, 866120,991i 3, 381i 9, 756
199.189.633.120.555.9
220.897.871.475.029.313.6
5.2
-21.7
222. 1011.0099.8075.5069.90
6.9017.061.76
10.07
25,6449, 9978,6331,364
8,3056,1202,1857,342
10, 3003,0663,4653,769
9,0882,6753,1533,260
10,0493,0043,4653,580
9,2222,6973,2623,263
15, 65219, 276
-3, 624
-306
-3,9303, 9306,854
-2,924
424, 990315, 408
15, 6526,920
453
5,9962,282
19, 5821,4325,482
5,4881,837
291893
216. 4411.0896.4374.7169.12
6.7516.681.449.35
25, 67110, 0618, 6941,367
8,3056,1012,2047,305
.9, 8492,9273,4543,468
8,9362,6983,0913, 147
10, 1563,1473,4623,547
9, 1572,7323,1723, 253
19,71018, 2651, 444
69
1,513
-1,513-2,003
-490
422, 163313, 406
19,7109,1924,306
3,7842,428
18, 196680
5,764
5,4521,893
273755
199.189.833.220.056.1
222.297.970.176.329.813.6
4.6
.0
-23.1
237.4911.0097. 2074.8069.21
6.8116.781.469.44
25, 84310, 0978,7221,375
8,4356,2692,1667, 311
9,7973,0373,4233,337
9,0072, 6613, 1913,155
10, 0312,9923,4673,572
9,1072,6343,2193, 254
12,46218, 677
-6, 215
-115
-6,330
6,3301,4074,923
421, 878314, 812
12,4626,282
736
2,9832,460
18, 7911,4065,886
5,6541,564
266830
218. 2611.0297.7874. 8669.27
6.8816.851.459.42
26,16610,1828,7951,387
8,6346,4822,1527,350
10,7113,1053,7373,869
9,3772,7003,2233,454
10,5723,1623,5953,815
9,3062,6623,2543,390
14, 94518, 798
-3, 852
-149
-4,0024,0022,5901,412
424, 555317,402
14, 9457,455
512
4,1202,858
, 18, 9471,0945,996
5,7611,931
286818
219. 3511.1598.4474.9071.31
6.9516.951.539.43
27, 69210, 3008,9161,384
9,8187,5972,2217,574
11, 9662,7805,0614,125
9,5182,6343,2003,684
10, 1302,9733,6043,553
9, 2302,6963,1883,346
17, 21317,085
128
-399
-271
2718,482
-8, 211
434, 350325, 884
17, 2137,0964,927
2, 6422, 549
17, 4841,1206,386
5, 5711,774
285893
202.893.831.120.857.0
227.5100.771.977.830.813.3
5.0
.1
-24.7
222. 1011.0099.8075.5069.90
6.9017.061.76
10.07
27, 00410, 3248,9371,387
8,9296,7192,2107,751
8,7662,4703,2972,999
9,4852,6693,6483,168
10,1842,9783,7063,500
9,5472,7613,5013,285
17,59619, 226
-1,630
-243
-1,8731, 873
1341,739
432, 607326, 018
17, 59610,9441,070
3,6151,967
19, 4691,0405,967
5,8971,892
2591,020
223. 3111.32
101. 3575.5269.98
7.1017.071.519.44
26, 61910,4339,0081, 425
8,1416,0082, 1338,045
8,9022,7622,9263,214
9,0942,6343,4073,053
10, 3393,0463,6983,595
9, 3732,6933,4083,272
15, 23918, 589-3,350
-175
-3, 5253,525
13, 524
434, 344326, 019
15, 2396,846
666
5,7401,986
18,764636
6,107
6,0131,856
276861
224. 7411.34
102. 8275.4669.94
7.0017.131.479.51
26, 65410, 5119,0831,428
8,0115,9692,0428,132
10>9513,3583, 7273,866
10, 1042,8353,6603,609
10,9963,1433,9213,932
9, 6322,6933,4223,517
15, 23720,000
—4, 763
—327
—5, 090
5,0903,7951,295
437, 553329, 814
15, 2373,9054,722
4,3502,259
20,327354
6,872
6,1791,900
3101,042
221.4105 834.019 961.7
236.3105 776.779.432.413.1
5.6
.0
-14. 8
226. 0211.52
103. 8075. 4269. 90
7.0517. 211.359.68
27, 05710, 6209,1761,444
8,3066,2392,0678, 131
10, 5633,2573,5913,715
9, 3102,6823,3913,237
10,7773,1943,8243,759
9, 6812,7673,5313,383
24, 53419, 1135,421
515
5, 935
-5, 935-2, 059-3, 876
435, 470327, 755
24, 53411, 9654,895
5,6552, 020
18,59897
6,507
5,9461,950
238926
227.8911.08
105.2575.4769.93
7.0317.361.50
10. 20
27,48610, 7499,2941,455
8,6926,6382, 0548,045
11, 6773, 6663, 9864,025
9,9342,8843,5593,491
10, 9983, 2393,9383,821
9,5572,7483,4573,352
17, 27519, 723
-2,448
-237
-2,6852, 685-6182,067
438, 350327, 137
17, 2756, 557
733
7,4432,542
19, 960440
6,871
6,1891,919
270970
229,3411.13
106.4375.4969.94
7.0917.441.54
10.20
27,64810, 8519,4061,445
8,8706,7642,1067,927
12,0623,8854,0664,111
9,9722,9003,5343,538
11, 1183,3983,9693,751
9,7912,8513,5263,414
25,53723, 2552,281
310
2,591
-2,591-3, 368
777
437, 329323,770
25, 53711, 1428,138
4,1372,119
22,945641
8,079
8,2141,883
294907
224.9107 335 219 762 6
246.5108.178 680 438.113 8
6 0
p 1
-21.6
230. 1811.10
107. 0775.5569.97
7.1517.531.54
10. 24
27,62410, 9179,4731, 444
8,8466,6802,1667,861
11, 0323,4153, 9623,655
9,7672,8413,6003,326
10,8113,1824, 0613,568
9,7842,8353,6813,268
15, 207(2)(2)
(2)
—3, 3843,3843, 730-346
442, 461327, 499
15,2077,3551,071
4, 2772, 505
18, 5912,6885,193
5,456•• 1, 862
289882
231. 5911.08
108.2475.6370. 03
7.1817. 601.57
10.29
27, 82011, 0459,6151,430
8,9876,7332,2547, 788
12, 0013,5854,3474,069
10,0962,9173,7193,460
11,4433,4424,2133,788
10, 0032,8813,7313,391
18, 213
-2, 369
2,369934
1,435
446, 051328,433
18, 2138,380
665
6,8492,318
20,5811,5325,662
6,0131,864
289855
233. 3411. 09
109. 7375.7270.10
7.2417.691.55
10.33
*> 108. 9
p 20. 1*63.7
* 243. 1^ 106. 2^75.2P82.4"34.6^13.6
r*>6.4.0
* Revised. * Preliminary.1 Data shown in 1970 and 1971 annual columns are for fiscal years ending June 30 of the
respective years; they include revisions not distributed to months.
2 The loan account/expenditure account distinction has been discontinued.9 includes data for items not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-19
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. ; Mar. Apr. May June July Aug. Sept.
FINANCE— ContinuedLIFE INSURANCE— Continued
Institute of Life Insurance— ContinuedPayments to policyholders and beneficiaries in
U.S., total _ mil. $_Death benefits doMatured endowments.. __doDisability payments... __doAnnuity payments doSurrender values : d o _ _ _ _Policy dividends d o _ _ _ _
Life Insurance Agency Management Association:Insurance written (new paid-for insurance) :t
Value, estimated total. . mil. $~Ordinary (incl. mass-marketed ord.) do . _._Group doIndustrial do
Premiums collected:Total life insurance premiums _ _ do _
Ordinary (incl. mass-marketed ord.) do_ _ _Group doIndustrial do. _
MONETARY STATISTICSGold and silver:
Gold:Monetary stock, U.S. (end of period) ...mil. I.-Net release from earmark§ . _ _ _ _ _ _ - doExports ____thous. $__Imports _ _ doProduction:
South Africa mil. $_Canada doUnited States do
Silver:Exports .1 . thous. $_.Imports... __ doPrice at New York _ ___dol . per fine ozProduction:
Canada thous fine oz1
Mexico doUnited States.... . do
Currency in circulation (end of period) bil. $_-
Money supply and related data (avg. of daily fig.) :©Unadjusted for seasonal variation:
Total money supply.... _ _ bil. $Currency outside banks do_Demand deposits ___ do
Time deposit sadjustedf _ . doU.S. Government demand deposits^., do.
Adjusted for seasonal variation:Total money supply _ _ _ do
Currency outside banks.. _ . _ doDemand deposits _ do
Time deposits adjusted^ >. doTurnover of demand deposits except interbank and
U.S. Govt., annual rates, seas, adjusted: JTotal (233 SMSA's) O__ratio of debits to deposits
New York SMSA . doTotal 232 SMSA's (except N.Y.) do
6 other leading SMSA'sd*-. do__226 other SMSA's _ _ „ do
PROFITS AND DIVIDENDS (QTRLY.)Manufacturing corps. (Fed. Trade and SE O.-
Net profit after taxes, all industries mil. $..Food and kindred products.. doTextile mill products do.___Lumber and wood products (except furniture)
mil. $__Paper and allied products do _Chemicals and allied products _ doPetroleum refining doStone, clay, and glass products do___.Primary nonferrous metal do _Primary iron and steel doFabricated metal products (except ordnance,
machinery, and transport, equip.) mil. $Machinery (except electrical) d o _ _ _ _Elec. machinery, equip., and supplies doTransportation equipment (except motor
vehicles, etc.) _ _ „ mil. $..M otor vehicles and equipment doAll other manufacturing industries do
Dividends paid (cash) , all industries. _ _ ... do _Electric utilities, profits after taxes (Federal Re-serve)....... mil.$_.
SECURITIES ISSUED
Securities and Exchange Commission:Estimated gross proceeds, total. - _ _ - _ _ _ . _ _ m i l . $._
By type of security:Bonds and notes, total — ...do....
Corporate i do___-Common stock. doPreferred stock do
16, 449. 47, 017. 3
978. 3232.9
1, 757. 12, 886. 43,577.4
i 193,574123,272163,690
6,612
19, 94014, 9123,7531,275
10, 732-615
37,789237,464
1, 128. 081.8
27, 61364,9571.771
47,483
57.1
210.047.7
162.3208.2
6.4
28, 5722, 549
413
304719
3,4345,893
6271,297
692
1,0662, 6892, 349
5931,4244,522
15,070
88, 666
80, 03730,3157,2401,390
17,177.27,, 423. 3
990.2256.8
1,944.42,881.63,680.9
186, 634131,31947,9487,365
10,132-889
51, 249283, 948
1,098.777.3
19,49949, 5071.546
41, 030
61.1
224.151.1
173. 0253. 8
6.4
31, 0382,754
558
603501
3,7805,829
853621748
1,070' 2, 4892,563
5853,0974,990
15, 252
105,233
92, 27232, 1299,2913,670
1, 348. 6609.573.720.1
164.2241.6239.5
17,49510, 8146,079
602
10, 332-2622,861
48,001
92.36.3
6514,6551.587
1,718
58.9
224.951.9
173. 0258.1
6.8
228.051.7
176.3257.3
81.6189.055.982.845.4
••9,319
'8,639' 1, 824
'416'265
1,466.5638.180.923.6
168.6232.9321.8
15,71810,6244,495
599
10, 1322
43422,732
91.36.1
1,5804,1341.421
2,741
58.8
226.251.9
174.3260.3
7.5
227. 651.9
175. 7259.6
82.2190.655.682.345.2
7,538739139
190141954
1,5082836422
312616633
185406
1,347
3,481
9,445
8,2502,5731,030
165
1, 392. 7605.377.623.0
181.1224.9278.8
14, 77710, 8943,243
640
._.
10, 1320
9723,083
93.46.3
2373,2191.336
4,067
59.2
227.552.2
175.3264.1
5.3
227.752.2
175. 5263.3
82.6199.554.380.044.2
9, 410
8,6872,665
63786
1, 354. 8608. 980.821.3
156.1230.3257.4
15, 09611, 7412,780
575
10, 132-184
23,192
91.76.6
2124,1671.320
3, 499
60.6
229.652.8
176.9265.5
3.9
227.752.2
175.5265.3
86.4203.758.187.246.7
10,569
9, 3002,4361,999
270
1,918.9709.583.521.2
163.5264. 1677.1
20, 23713,4096, 301
527
10, 1325
1,58616, 163
85.75.9
1,3823, 8781.394
3, 287
61.1
235.153.5
181.5269.0
6.7
228.252.5
175.7269.9
83.7196.157.385.246.4
7, 980703175
16576
9041,407
21291
171
202705725
117887
1,442
4,084
6,911
5,7102,4731,032
169
N
13, 8589,8943,366
598
10, 1320
52215, 119
295.326.5
8645,3041.473
3,257
59.4
235. 352.6
182.7273.7
228.852.8
176.0274.4
83.9205.3'56.2
82.046.2
7, 188
6,3542,371
531303
14, 99611, 3343,020
642
9,588-5441,117
19, 390
88.26.4
1,4994,6961.504
3,976
59.8
229.052.6
176.4277.3
231.253.2
178.0278.1
84.5205.156.282.645.8
7,302
6,2612,329
846195
19, 04613,4214,953
672
9,58838
23, 83127, 714
91.86.6
10,5744,6891.536
3,308
60.4
231.353.2
178.1280.8
233. 553.7
179.9279.9
83.0195.257.283.3
'46.9
7,934680139
170168
1,0621,287
125160173
312713564
1631 0101 209
3,899
6,556
5,5802, 253
694282
16, 62111, 9494,018
654
9,5886
88026, 020
93.27.5
5753,5411.572
4,448
60.5
236.153.6
182.6283.1
235. 054.0
180.9282. 8
85.6202.158.987.347.8
8,636
7,7712,411
601263
16, 96012,3743, 705
881
10, 410-1,227
1,63326, 573
94.46.8
2,8956,3551.583
3,032
61.7
231.354.0
177.3286.910.4
235.554.4
181.1287.0
85.6200.858.789.846.9
9, 547
8,3992,4501,017
131
17,98112,5444,865
572
10,4100
2,02925, 801
94.36.2
1,2043,4141.569
2,841
62.2
234.754.6
180. 1290.0
6.8
236.654.7
181.9290.9
84.7199.958.688.147.5
9.633803161
266271
1,0971, 095
328214324
426921763
2751 2011 488
4,106
7,588
5,8022,5551,174
612
15,48410, 8863,958
640
10,4100
3,43611,953
94.46.4
16, 5275,9551. 736
3,527
62.4
237.955.3
182.6292.7
7.2
239.454,9
184.5293.7
82.3194.457.184.246.8
6,989
5, 8902,337
894206
16, 31011, 9353,825
550
10, 41012
16, 33952, 656
9,0402,9631.846
3,244
62.7
' 237. 255. 3
182.0298.1
5.3
' 240. 5'55.0185.5297.1
87.5206.960.290.248.8
7,060
6,1201,892
734206
10,410
1. 777'
* 240. 255.4
184.7301.3
5.8
v 241. 755.5
186.2300.5
' Revised. » Preliminary. 1 Includes $17 bil. SGLI. 2 Beginning Jan. 1972 valued$38 per fine ounce
§Or increase in earmarked gold (—). ©Beginning Jan. 1972 SURVEY, data reflect correctionsto the latest benchmark levels available for nonmember banks and changes in seasonal fac-tors. Revised monthly data back to 1964 will be shown later. IfAt all commercial banks.
t Series revised to reflecfrecalcuiation of seasonal factors; revisions for periods prior to Feb.1971 will be shown later ©Total SMSA's include some cities and counties not designated asSMSA's. (^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland, andLos Angeles-Long Beach.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-20 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission—ContinuedEstimated gross proceeds— Continued
By type of issuer:Corporate total 9 mil. $
Manufacturing - doExtractive (mining). _ doPublic utility . —do
Transportation § doCommunication » _ doFinancial and real estate do
Noncorporate total 9 doIT S. Government -- - doState and municipal do
State and municipal issues (Bond Buyer) :Long-term doShort-term do.
SECURITY MARKETS
Stock Market Customer Financing*
Margin credit at brokers and banks, end of month,total mil $
At brokers do
Oth ^ *t rTf- at "hnnlrs doFree credit balances at brokers:
Cash accounts do
Bonds
Prices:Standard & Poor's Corporation:
High grade corporate:Composited1 dol per $100 bond
Domestic municipal (15 bonds) do
U.S. Treasury bonds, taxable! do.__-
Sales:Total, excl. U.S. Government bonds (SEC):
All registered exchanges:Market value mil. $Face value do
New York Stock Exchange:Market value doFace value do
New York Stock Exchange, exclusive of somestopped sales, face value, total mil. $
Yields:Domestic corporate (Moody 's) percent _ _
By rating:Aaa doAa do _.A _ do _.Baa do
By group:Industrials doPublic utilities doRailroads _ do
Domestic municipal:Bond Buyer (20 bonds) doStandard & Poor's Corp. (15 bonds) _do
U.S. Treasury bonds, taxable© _. _ do
Stocks
Dividend rates, prices, yields, and earnings, com-mon stocks (Moody's) :
Dividends per share, annual rate, compositedollars.
Industrials. _ _ _ . _ - d oPublic utilities doRailroads.. _._ __ doN.Y. banks _ _ doProperty anfr casualty insurance cos do ...
Price per share, end of mo., composite.. do...Industrials. __ doPublic utilities doRailroads „ ' do
Yields, composite _ percentIndustrials _ doPublic utilities doRailroads -doN Y. banks doProperty and casualty insurance cos do...
Earnings per share (indust., qtrly. at ann. rate;pub. util. and RR., for 12 mo. ending each qtr.)
Public utilities _ _._do._.Railroads -_• do...
38 94510, 5132,093
11, 017
2,2605,1365,517
49, 72114, 83117 762
17,76217, 880
61.572.3
60.52
4, 763. 246, 299. 55
4,328.335, 554. 92
4, 494. 86
8.51
8.048.318.569.10
8.268.679.04
6.346.50
6.59
8.999.764.693.926.77
10.44
226. 70270. 83
79 0665.61
3.973.605.945.974.034.02
I K on6.893.53
45 09011, 5781,283
11, 800
2,4185,8198 814
60, 14317, 32524 370
24, 37026, 281
1 6,535i 5, 700
*835i 1 298
1 3871 1, 837
65.080.0
67.70
8,803.9110,157.90
8,009.579,080.68
6,563.82
7.94
7.397.788.038.56
7.578 138.38
5.465.70
5.82
8.819.504.773.787.28
10.62
261.43318. 7584 1685.12
3.372.985.674.444.143.25
17 55J>7,01
3.93
r2 504T 518
97'853
88359
r 437
6, 8153, 2281 850
1,8501,882
5 9175,121
7961 206
4051,838
63.477.4
67.33
678. 46789 Si
627. 76718 02
489. 80
8.12
7.597.938.208.76
7.808.308.48
5.395.95
5.78
8.779.434.783.847.28
10.66•*'
262. 95322. 2879.7093.50
3.342.936.004.114.343.08
'""".
3,7681,146
901,070
149282704
5,6771,6982 044
2,0442,781
5 9905,208
7821 237
3641,734
64.281.7
69.35
758. 11861. 07
694. 85769. 97
478. 40
7.97
7.447.818.048.59
7.648.128.39
5.245.52
5.56
8.769.434.783.847.28
10.70
261. 31320. 2678.8193.32
3.352.946.074.114.313.11
15 057.104.32
3 38766287
934
190432848
6,0222,4551 679
1,6791,843
6 0165,238
7781 204
3931,765
65.284.7
70.33
773. 19851. 32
704. 31766.77
530. 42
7.88
7.397.697.978.48
7.588.048.25
5.115.24
5.46
8.759.414.783.847.28
10.70
251. 49306. 2582.4186.56
3.483.075.804.444.193.31
3 704811129
1,217
152269963
6,8643,2542 286
2,2862,785
5,9955,198
7971 209
4121,758
66.484.1
70.47
743.05815. 80
683. 91745. 08
497. 11
7.77
7. 267.567.888. 38
7.467.968.13
5.445.30
5.44
8.739.394.793.497.28
10.70
251. 26306. 8779.8082. 15
3.473.066.004.253.973.33
3 67398073
891
232352845
3,237443
2 058
2, 0582,492
6,5355,700
8351,298
3871,837
66.583.5
68.80
872. 36979. 30
803. 14890.20
639.34
7.75
7.257.577.818.38
7.427. 928.12
5.025.36
5.62
8.739.394.813.517.31
10.77
271. 78333. 5185.5692.07
3.212.825.623.813.843.27
19 86P7.14
3.93
3 205392105533
282752945
3,983529
1 737
1,7371, 594
6,8505,989
8611,313
4482,040
67.184.6
68.79
963. 66,011.89
866. 66896. 11
596. 42
7.66
7.197.527.708.23
\
7.347.857.98
5.355.25
5.62
8.759.424.833.517.31
10.79
276. 91341. 0484.1895.27
3.162.765.743.683.883.28
3 36952961
988
146498
1,036
3, 933539
1 942
1,9421,752
7,4276,477
9501,327
4342,108
66.783.8
68.32
862. 43903. 78
770. 82804. 49
521. 85
7.68
7.277.527.708.23
7.397.848.00
5.295.33
5.67
8.789.454.833.587.31
10.91
281. 04348. 6481.4894.21
3.122.715.933.803.913. 24
3, 229604189740
105( 2271,112
3,327586
2 185
2,1853,407
7,8476,896
9511,294
4422,070
66.284.1
68.43
975. 831,013.72
870. 04895.25
569.24
7.66
7.247.537.668.24
7.357.818.03
5.405.30
5.66
8.799.454.863.587.31
10.91
285. 67354. 3080.7795.75
3.082.676.023.743.583.14
18 57*7:21*4.46
3 27558162
1,219
131. 178
752
5,3602,2811 963
1, 963y1,516
8,2507,283
9671,278
4332, 030
65.182.5
67.66
837. 59859. 85
763. 19778. 24
515. 14
7.71
7.307.577.748.24
7.427.878.04
5.205.45
5.74
8.809 494.863.587 31
• 10.99
286. 59356 2677 9494 88
3 072 666 243 773 432.90
3, 598761106738
213391
1 021
5,9492,3601 924
1, 9242,726
8 4727,478
9941 296
4031, 930
65.284.6
68.59
775. 98807. 23
717. 15741. 02
458. 20
7.71
7.307.567.758.23
7.437.888.01
5.155.26
5.64
8.889.584.863.817.31
11.02
289. 90361. 77
77 1392 59
3.062.656 304 113 492.82
4,341767168
1,538
185800529
3,248536
2,222
2,2222,705
7,792
3861,845
65.683.4
69.05
801. 19840. 79
740. 74776.82
443.07
7.66
7.237.517.698.20
7.367.837.98
5.435.37
5. 59
8.879.584.863.787.31
11.02
283.32354. 96
75 2787.87
3.132.706.464.303 533.00
3,436568163767
170582
1,027
3,553496
1,737
1,7871,215
7,945
4031,842
65.683.1
69.23
632. 67679. 82
581. 21625.30
362.57
7.66
7.217.507.718.23
7.397.808.00
5.325.39
5.57
8.879.594.863.787.31
11.02
285. 55357. 8175.1186.96
3.112.686.474.353 283.13
2,833419255631
112235817
4, 227606
1,891
' 1, 911'1,845
65.884.2
69.55
415. 73
7.61
7.197.437.648.19
7.357.697.99
5.385.29
5.54
8.979.604.883.787.31
11.02
295. 79369.6078.2590.16
3.032.606.244.193.082.90
1, 6712,456
65.683.4
68.06
309. 72
7.59
7.227.417.648.09
7.367.637.97
5.305.36
5.70
8.969.604.893.787.31
11.02
294.25366.2478. 4885.86
3.052.636.234.403.022.94
r Revised. *> Preliminary. l End of year. *New series; more detailed informationappears in the February 1972 Federal Reserve Bulletin.
9 Includes data not shown separately. § Beginning April 1971 SURVEY, data re-stated to include "other transportation" in addition to railroad data formerly shown.
c? Number of bonds represented fluctuates; the change in the number does not affect thecontinuity of the series.
^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.O For bonds due or callable in 10 years or more.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUERENT BUSINESS S-21
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. £>ec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividend yields, preferred stocks, 10 high-grade(Standard & Poor's Corp.). L percent-
Prices:Dow-Jones averages (65 stocks)
Industrial (30 stocks) __Public utility (15 stocks).Transportation (20 stocks)___._
Standard <fe Poor's Corporation.^Industrial, public utility, and railroad:
Combined index (500 stocks) ..... 1941-43 =10_ .
Industrial, total (425 stocks) 9 do....Capital goods (116 stocks) ...doConsumers' goods (184 stocks) do ..
Public utility (55 stocks).. _.._do_—Railroad (20 stocks) .. do
Banks:New York City (9 stocks) ..do.—Outside New York City (16 stocks).. ...do.—
Property-liability insurance (16 stocks)_.do_.__
New York Stock Exchange common stock indexes:Composite .. 12/31/65—50
Industrial doTransportation s.do
B Utility... _,„ . doFinance do
Sales:Total on all registered exchanges (SEC):
Market value mil $Shares sold millions
On New York Stock Exchange:Market value mil. $..Shares sold (cleared or settled.) millions..
New York Stock Exchange:Exclusive of odd-lot and stopped stock sales
(sales effected) millions
Shares listed, N.Y. Stock Exchange, end of period:Market value, all listed shares bil. $Number of shares listed millions
7.22
243. 92753. 19108 75152. 36
83.22
91.2987.8780.2254.4832 13
43.8377.06
78.34
45 7248 0332 1437 2460 00
131 1264 539
103, 0633,213
2 937
612 4915, 522
6.75
298. 12884.76117. 22217. 20
98.29
108.35102. 8099.7859.3341.94
46.3187. 06
115.04
54 2257 9244 3539 4470 38
185 0275, 916
147, 0984,265
3 891
741. 8317, 500
7.04
297. 74875. 40113. 28222. 89
97.24
107. 26100.9099. 8257.5143.55
42.9785.08
123. 73
53 7357.6244 8338.1769.41
15, 327460
12,271337
321
711.9316, 915
6.90
308. 42901. 22111. 20241. 35
99.40
109. 85104. 55103. 3456.4847.18
45.1085.09
127. 11
54 9559 1348 0937 5372 14
12 833393
10, 165286
253
709 0017, 032
6.75
302. 19872. 15113 76236. 52
97.29
107.28100. 66101. 3157.4144.58
45.9184.98
120.71
53 7657 5247 0237 9371 24
12, 994403
10, 214289
280
681 1717, 170
6.78
285. 91822. 11111 03221. 48
92.78
102. 2195.5197.4755.8641 19
46.4283.55
115. 65
51 1754 5044 2936 8768 98
12 304405
9,757295
276
679 4217 320
6.81
301. 72869. 90112. 43237. 81
99. 17
109. 67103.78103. 9257.0743.17
49.7988.74
119. 58
54 7658 8548 3437 5272 28
17 648574
13, 997416
378
741 8317 500
6.:57
315. 61904. 65118 84249. 85
103.30
114. 12109.69106. 4560.1945.16
49.7090.16
119. 26
57 1961 3350 5640 0274 24
16 872'547
12, 971376
380
761 3517 589
6.67
317. 15914. 37113.41255. 10
105.24
116. 86113.90109. 4?57.4145.66
49.2890.19
122. 20
58 4563 3652 8038 5673 74
18 549*609
14 278423
376
782 9417 692
6.76
323.84939.23114. 34259. 48
107.69
119. 73116. 89113. 2057.7346.48
52. 1694.79
128.19
59 9665 1853 7138 5677 15
21 408661
16, 439460
404
790 2217 777
6.91
329.83958. 16110. 56270. 08
108. 81
121. 34120. 19115. 0555.7047. 38
55.76103. 47
133. 66
60 6566 1055 5037 4880 36
18 448584
14, 122413
368
791 0417 916
6.90
322. 26948. 22108. 80257. 34
107. 65
120. 16119. 65112. 6754.9445.06
55.57101.57
139. 43
59 8265 3053 4337 0478 32
17 093507
13 124357
336
810 4318 113
6.93
.315. 09943.43106.27243. 84
108. 01
120. 84120.92113. 4353.7343.66
55.27103.63
132. 63
59 8765 7651 2636 3276 59
16 742'506
12 989360
315
793 2218 432
6.99
306. 91925. 92107. 09229. 95
107.21
119.98119. 13112. 5753.4742.00
57.35106.94
127. 13
59 2165 1348 4536 0275 41
13 925*427
10, 831307
289
791 1018 607
6.90
315. 22958.34109. 07233. 53
111. 01
124.35124.47116. 1754.6643.28
61.28112. 21
131. 71
61 0767 2548 9736 8778 27
357
821 1518 773
7.00
310. 15950. 58109.76222. 86
109.39
122.33121.63113. 1955.3642.37
62.11116.62
129.86
60 0565.7246 4937 8278 41
246
816 2218 875
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Value of Exports
Exports (nidse.), incl. reexports, total.. mil. $__
Excl. Dept. of Defense shipments do. ..Seasonally adjusted. do
By geographic regions:Africa _ doAsia _ ._ .. doAustralia and Oceania doEurope _ do
Northern North America.. doSouthern North America _ _ _ __ doSouth America... do
By leading countries:Africa:
Egypt... doRepublic of South Africa do
Asia; Australia and Oceania:Australia, including New Guinea .doIndia.. doPakistan doMalaysia _ do
Indonesia doPhilippines doJapan _ do
Europe:France _ _ _ _ _ doEast Germany. doWest Gerinany ._..do_.._
Italy _ doUnion of Soviet Socialist Republics doUnited Kingdom... do
North and South America:Canada do
' Revised.d* Number of stocks represents nunlber currently
43,224.0
42,659.3
1,579.110,022.81, 188. 214,816.8
9,080.33,241.33,290.0
77.2562.7
1,003.5572.5325.4
66.6
266.0373.2
4,651.9
1,483.032.5
2,740.7
1,353.0118.7
2,536.3
9,079.3
used; the
44, 129. 9
43,548.6
1, 694. 19, 849. 51, 168. 8
14, 574. 1
10,367.73, 154. 23,328.2
62.9622.4
1,018.8648.2211.673.8
263.0340.2
4,054.7
1,380.225.4
2, 832. 0
1,314.0160.6
2,374.0
10,365.7
change I
3,423.8
3,366.23,677.7
141. 7704.1130.6
1, 114. 9
777.4259. 6295.5
2.547.3
119.745.915.66.0
18.925.0
299.7
109.9.2
217.1
96.310.8
156.3
777.4
n numb<
4,259.5
4,219.84,505.0
173.2981.5104.9
1, 421. 1
908.0310.0366. 1
• 5.7 .65.2
91.763.729.48.9
34.434.6
371.2
132.71.8
259.9
120.814.9
240.4
908.0
sr does r
2,891.1
2,825.72,707.9
53.3616.7100.1820.7
917.6223.6161.2
2.017.8
90.438.714.44.7
10.816.4
291.6
80.3.7
164.0
65.79.3
133.2
917.6
LOt
3,264.5
3,221.33,160.3
106.7737.173.7
988.8
931.9230.8194.9
4.052.1
62.344.04.05.5
17.821.5
329.0
82.82.6
203.2
90.513. 7
153.9
931.9
affect9In
4,088.4
4,055.93,858.0
183.0912.4117.7
1,404.2
876.6287.4307.5
8.288.8
100.051.85.88.4
24. 235.6
403.9
125.37.1
261. 4
142.626.6
255.7
876.6
continuieludes ds
3,872.6
3, 814. 84, 220. 8
148.7871.581.6
1,304.2
859.5262.0309. 1
5.267.4
69.241.814.97.6
27.729.7
370.9
121.91.5
229.3
110.82L6
253.8
859.5
ty of theita not sb
3,818.4
3,780.03, 805. 6
131.3809.891.0
1, 289. 6
925.2274.5297.0
5.938.3
74.2f 29.2
15.75.5
25.425.1
321.7
144. 11.7
233.2
114.429.6
182.8
925.2
series,own sep
4,349.2
4,309.73,890.7
136.61,068.8
95.01,436.5
1,024.3296.1291.9
9.148.4
80.245.919.99.5
18. 1> 34.8512.6
172. 45.7
251.7
144.835.1
277.0
1,024.2
arately.
3,936.7
3,886.63, 760. 3
113.2876.085.7
1,248.5
1,071.0275.0267.3
8.640.7
72.018.325.411.4
35.028. 4
372.8
123.5.4
234.7
110.730.2
201.8
1, 070. 9
4, 195. 5
4,142.83,913.5
114.6900.472.4
1,388.4
1,120.1290.5309. 1
3.536.4
59.521.713.39.2
26.930.6
375.0
129.4.3
237.3
163.629.1
197.5
1,119.9
4,050.9
4,014.93,904.7
138.9931.770.7
1,182.8
1,114.6283.6328.7
7.746.4
58.449.217.17.0
29.831.0
387.7
117.0.5
219.6
115.321.0
200.2
1,114.6
3,726.4
3,660.34,019.2
109.9878.584.9
1,187.4
875.5' 279. 4310.8
5.037.5
70.028.214.35.8
22.334.4
376.5
113.5.5
219.9
103.219.3
192.8
873.8
3,991.4
3,945.84,201.7
134.1893.3104.3
1, 246. 5
1,008.9298.1306.3
12.164.0
90.320.815.116.9
11.327.8
405.3
108.8.6
199.0
93.375.1
184. 9
1,008.2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-22 SUEVEY OF CUKEENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOREIGN TRADE OF THE UNITED STATES—ContinuedFOREIGN TRADE— Continued
Value of Exports— ContinuedExports (mdse.), incl. reexports— Continued
By leading countries— ContinuedNorth and South America — Continued
Latin American Republics, total ? — mil. $._Argentina doBrazil .— - doChile _ do—Colombia doMexico \ doVenezuela- ..__ _—__._.)_ do —
ExDorts of U S merchandise total doExcluding military grant-aid do
Agricultural products, total do .Nonagricultural products, total . do. —
By commodity groups and principal commodi-ties:
Food and live animals 9 _ _ _ _ _ _ _ mil. $__Meats and preparations (incl. poultry). .doGrains and cereal preparations do —
Beverages and tobacco do —
Crude materials, inedible, exc. fuels? — do —Cotton, raw, excl. linters and waste doSoybeans, exc. canned or prepared.... .doMetal ores, concentrates, and scrap do —
Mineral fuels, lubricants, etc.? do.—Coal and related products _ doPetroleum and products do
Animal and vegetable oils, fats, waxes — doChemicals doManufactured goods 9 _ — _ do —
Textiles - doIron and steel... _ _ _ _ _ _ doNonferrous base metals —do —
Machinery and transport equipment, totalmil. $—
Machinery, total? _ do—Agricultural ._ ___doMetalworking doConstruction, excav. and mining. doElectrical do
Transport equipment, total — —do
Miscellaneous manufactured articles doCommodities not classified __... — do —
Value of ImportsGeneral fmports, total _ _ do _
Seasonally adjusted doBy geographic regions:
Africa doAsia do .Australia and Oceania doEurope ... doNorthern North America doSouthern North America _ doSouth America do
By leading countries:Africa:
Egypt doRepublic of South Africa _do
Asia; Australia and Oceania:Australia including New Guinea doIndia - - do .Pakistan . doMalaysia _ do .Indonesia doPhilippines doJapan _. _ do. —
Europe:France doEast Germany doWest Germany doItaly ._ do. _Union of Soviet Socialist Republics. ...do.. —United Kingdom.. „ —do
North and South America:Canada doLatin American Republics, total? do
Argentina _ doBrazil _ _ _ _ _ _ _ doChile. _ _ _ _ _ do—Colombia _doMexico „ „ _— _ do—Venezuela _ .do
By commodity groups and principal commodi-ties: I
Agricultural products, total do....Nonagricultural products, total. do
5,695.2441.0840.5300.3394.8
1, 703. 7759.3
42,590.142,025.47,246.8
35,343.3
4,356.3174.7
2,596.0
701.7
4,604.8372.1
1,215.9939.5
1, 594.71, 044. 1
487.9493.0
3,825.65,065.2
603.11,268.8
892.5
17,881.911,379.3
626.4395.7
1,422.32,999.26,502.63,550.02,570.71,496.3
39,951.6
1,112.99,621.2
870.611,394.611,094.82,850.12,983.1
22.9290.2
622.6298. 180.2
270.2182.4471.7
5,875.4
942.39.4
3,127.01,316.0
72.22,193.6
11,092.04,778.9
171.8669.5157.0268.8
1,218.51,082.0
5, 767. 434, 184. 2
5,667.0391.0966.3223.7378.0
1,622.1787.1
43,491.842,910.57, 694. 9
35,802.3
4,366.6192.0
2,447.4
709.1
4,328.2583.5
1,324.8485.9
1,497.5950.7478.9615.2
3,835.84,413.4
632.1791.1595.6
19,459.811, 596. 0
596.7404.5
1,404.23,068.07,899.04, 151. 12,734.11,531.3
45,562.7
1,236.811,782.5
895.012,845.612; 765. 63,001.43,033.9
19.1286.5
636.2329.277.1
269. 1207.2495.8
7,260.9
1,087.810.1
3,650.81,406.0
56.82,459.1
12,761.74,882.3
175. 9761.890.9
239.41,262.51, 215. 8
5,768.139,834.0
487.232.980.220.431.1
126. 576.0
3,376.73,319.0
546. 02,830.7
309.218.1
170.8
74.4
302.524.4
102.735.4
167.3117.345.645.4
384.7352.256.057.436.7
1,382.9861.938.227.798.0
238.4521.2280.0232.0125.3
3,838.23,928.2
113.3934.888.1
1, 197. 7961.1242.2306. 0
2. 117.7
52.230.26.8
30.121.441.8
530.4
102.5.9
347.6149.4
3.7235.5
961.0449.020.6
100.16. 8
22.688.9
104.0
555.93,291.3
584.247.1
107.524.537.5
134.882.3
4,205.34,165.6
749.83,459.6
445.117.4
277.6
122.7
369.247.893.753.2
158.2106.745.458.1
424.8436.867.970.751.7
1, 814. 21, 100. 6
59.136.7
140.0291.7714.0416.3258.0118.3
4,245.94,237.4
134.71, 104. 0
120.41, 216. 81, 116. 4
222.9335.5
4.330.4
89.041.98.8
24.320.747.2
649.4
98.71.0
356.8120.9
5.3235.4
1, 115. 1461.822.5
103.114.726.788.2
102.5
625.03,628.7
329.613.548.810.018.4
131.339.8
2,838.92,773.5
466,32,374.7
284.014.6
137.5
10.1
266.629.790.924. 3
87.153.329.440.5
204.4253.033.039.324.3
1,382.9822.643. 321.594.5
234.6561.3288.3185.4124.7
3,463.33,522.8
78.6946.762.3
920.91, 094. 9
187.4178.3
1.223.2
48.815.33.1
17.512.938.3
604.5
65.7.6
264.293.54.8
193.5
1,094.9283. 812. 532.3
.79.0
84.985.8
286.03,185.6
372.817.060.814.030.2
136.143.1
3,220.13,177.0
629.22,590.3
383.217.3
189.6
12.0
371.742.0
146.421.9
62.119.835.837.0
223.5315.244.865.536.1
1,496.9893.440.739.0
101.3240.3605.2351.6211.4107.1
3,522.03,378.7
81.01,060.9
45.3786.7
1, 139. 4245.3169.1
.917.3
34.517.43.7
22.314.239.8
706.5
71.0.4
222.389.22.3
150.9
1, 139. 1315.2
8.926.7
.610.7
116.395.5
291.03,239.6
520.943.987.520.529.5
150.869.3
4,031.53,999.1
842.43, 189. 7
460. 223.2
224.4
75.8
463.265.4
158.437.5
122.176.436.459.0
309.1409.366.883.556.0
1,760.31,083.6
44.347.1
121.8300.5677.0337.1258.8113.8
4,278.74,128.4
139.91,327.0
98.71,032.31,130.4
281.4269.4
1.530.4
72.936.29.3
26.818.464.4
811.0
75.81.1
299.7120.5
3.0182.8
1,129.9453.819.162.72.7
23.1120.2109.2
550.93,731.8
504.341.888.017.829.6
133.274.4
,823.8,765.9770. 1
,053.7
379.414.9
215.8
126.2
397.753.9
134.925.4
116. 671. 638.552.4
337.8357.458.862.942.9
1,664.91,047.6
48. 738.4
122.0296.3617.3341.5240. 6150.8
4,279.94,539.6
104. 11, 126. 7
66.01,244.21, 106. 6
296.1330.8
1.517.4
49.642.15.6
27.823.722.8
664.5
102.11.6
325.2155.2
3.8226.9
1, 105. 8518.616.8
100.14.5
30.4122.4119.6
585.83, 694. 1
502.634.196. 918.228.9
140.569.9
, 761. 1, 722. 7715.2
3, 045. 9
373.014.5
229.2
112.0
378.265.2
110.430.7
109.170.531.439.7
351. 8391.959.865.453.2
1, 637. 4,026.7
63.127.7
121.5276.4610.8368.5250.6117.4
4, 177. 34,403.2
119.4999.368.4
1, 240. 61, 144. 0
290.1312.0
1.323,1
46.834.55.8
29.019.630.0
580.7
103. 51.1
336.3142.9
4.6232.1
1, 143. 4512.916.798.16.4
31.6145.697. 2
590.53,586.8
515.126.495.716.625.0
158.873.4
, 289. 5,250.0668.6
,620.9
376.417.7
198.8
49.5
436.272.1
102.941.9
136.587.442.838.2
342.3434.863.874.755.6
2, 057. 61, 190. 3
71.035.2
145.4323.2867.3418. 5284.0133.9
4,844.24,475.0
126.41, 332. 1
73.31,427.61,288.6
317.5275.8
.634.4
48.738.21.5
26.017.149.1
847.1
138.01.0
385. 7164.3
5.8263.7
1,288.1486.915.350.510.717.9
155.0127.8
507.94,336.2
478.323.190.512.823.2
153.770.3
3,861.53,811.5
628.23,233.3
361.718.8
214.4
34.3
399.145.8
125.930.8
131.688.835. 135.8
294.1387.561. 261.451.0
1,801.01, 086. 3
64.233.8
142. 7291.9714.7415.5271.3145. 1
4,247.94,459.7
111.31,108.0
95.31, 159. 71,234.3
310.6223.4
1.821.1
72.730.43.5
20.623.228.9
691.7
98.2.9
317.7139.0
1.9214.2
1, 234. 2421.217.548.34.1
14.5144.795.2
487.73,760.2
534.334.5
102.725.624.5
159.772.3
,127.1,074.4711.9
,415.3
449.027.6
265.2
59.0
386.827.7
109.741. 9
96! 435.642.0
343. 5413.864.069.347.5
1, 895. 21,119.3
71.938.6
139.5305.6775.8438.7264.2137.9
4,722.24,465.9
139.11,251.3
94.91,330.81,339.5
315.1246.0
.433.3
62.142.54.0
30.721.732.2
769.3
112.9.5
395.7132.3
7.9245.6
1,339.2456.114.864.33.3
24.5155.187.0
534.94, 187. 3
552.424.9
108.015.429.9
158. 994.4
,978.2,942.2743.3
,234.8
473. 923.7
295. 8
54.1
371.224.6
106.142.2
123.584.935.962.1
334. 8404.463.570.844.3
1,757.4, 101. 3
69.631. 2
139. 8303.5656.1398. 9265.4131.4
4,766.5
126.81,240.3
96.61, 345. 91, 373. 3
287.5292.3
2.522.1
68.442.83.3
23.320.150.8
707.2
115.8.6
349.2143.6
7.4295.6
1,373.2476.317.774.75.7
21.0125.0113.9
526.74,239.8
526.038.8
112. 414.822.9
153.973.0
3,667.9,601.8681. 8
2,986.1
436.519.5
272.8
59,7
361.917.791.545.6
103.2
36*. 144.5
333.1374.154.664.237.9
1, 574. 5,031.3
63.131.7
137.4283.7
283'. 4261.3119.2
4,313.74, 561. 4
134.61,174.8
87.21,314.41,063.6
258.3277.1
1.236.4
57.538.21.9
24.118.233.8
680. 1
108.7.7
373.2142.3
7.3246. 9
1,062.9447.415.086.212.619.2
121.399.1
471.33,842.4
641.234.9
106.915.023. 3
171.473.0
3,920.03,874.4
684.03,236.0
474.918.7
318.4
66.2
352.810.184.549.3
157.1113.938.237.1
349.4420.366.273.838.6
1,680.71,063.2
58.830.4
130.2296. 4617.5357.4264.7116.8
4,727.34, 664. 3
137.81, 488. 6
127. 81, 341. 61, 027. 3
308.7292.0
1.926.4
92.037.35.1
21.526.150. 8
911.1
132.5.9
380.6173.1
9.7208.2
1,025.8
482.916.176.510.130.7
126. 6104.1
556.14, 171. 2
9 Revised. ? Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-23
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value of Imports — ContinuedGeneral imports— Continued
By commodity groups and principal commodi-ties:
Food and live animals? ...mil. $_.Cocoa or cacao beans doCoffee doMeats and preparations doSugar do
Beverages and tobacco do
Crude materials inedible exc fuels 9 doMetal ores doPaper base stocks doTextile fibers doRubber do
Mineral fuels lubricants etc doPetroleum and products __.... do
Animal and vegetable oils and fats do
Chemicals do
Manufactured goods 9 doIron and steel ___ . doNewsprint ' doNonferrous metals.. _._ doTextiles do
Machinery and transport equipment... __doMachinery, total 9 .— -do
Metalworking ____doElectrical do
Transport equipment doAutomobiles and parts do
/Miscellaneous manufactured articles..! _do 1.
Commodities not classified do
IndexesExports (U.S. mdse., excl. military grant-aid):
Unit value 1967—100Quantity _ _ _ _ _ _ . : _ _ _ - ...do....Value. _ do
General imports:Unit value _ d o _ _ _ _Quantity __ . . doValue _ _ _ : do
Shipping Weight and Value
Waterborne trade:Exports (inch reexports):
Shipping weight thous. sh. tons..Value mil $
General imports:Shipping weight ..._._. thous. sh. tons..Value mil $
5, 374. 7200.7
1, 159. 51,014.4
725.385"5.0
3,307.21,148.9
501.9201.7236.5
3,074.72,764.3
159.6
1,450.2
8,438.32,030.2
929. 61,655.61,135.3
11,171.75, 288. 7
163.72,271.2
5,883.05,067.6
4,846.3
1, 273. 8
110.7123. 9137.1
111.6133.1148.6
239,77424,394
299,16824,728
5,528.8181.3
1, 167. 81, 050. 4
763. 6
875. 53,382.01, 043. 6
502.3158. 4216.0
3, 714. 83,323.3
171.6
1,612.3
9, 545. 82, 725. 4
988.51, 552. 71,392.0
13,873.25, 967. 8
106. 82, 556. 6
7, 936. 06, 846. 5
5,372.9
1,475.6
114.2122.7140.0
117.4144.5169. 6
204,13222, 610
313,16726, 993
529.012.5
141.3102.081. 386.9
301.897.243.517. 623.9
327.2298. 7
11.0
148.2
811.3236.775.6
135. 8112.8
1,027.6442. 8
8. 8185.3
588.9504.2
474.7
120.5
113.0115.0130.0
118.0145.5171.7
18, 1821,865
28, 5282,379
609.712.9
142.7128.998.8
104.4
308.181.240.016.219.2
333.1303.0
17.6
165.9
896. 4259.388.2
149.4134.0
1,213.8523.8
8.6222.6
696.0600.6
484.2
112.6
113.8143.5163. 3
117.4161.7189.8
20, 3202,434
28, 1262,603
290.26.5
31.761.846.2
61.4
247.274.937.87.6
15.6
309.8276.4
13.5
114.5
701. 5219.683.195.582.2
1,149.0495.1
9.4236.0
662.2580.2
449.2
127.1
115. 094.5
108.7
119. 8129.3154. 9
12, 933989
23, 8241,735
302.85.8
44.661.941.3
50.5
254.383.742.53.9
13.7
331.7307.8
12.1
90,1
716.3220.092.1
101.4- 82.7
1,210.6503.6
4.1241.7
715.1620.9
436.7
116. 9
113.8109.3124.4
120.4130.8157.6
13,7721,312
26,2711,624
542.625.492.9
110.371.2
63.3
294.780.542.615. 4 f19.6
400. 9354.7
14.8
116.2
865. 0202. 994.8
150.6151.4
1,302.0550. 4
6.9251.2
753.7650. 9
538. 9
140.3
115.4135.8156,6
118.4161.5191. 1
18, 3742,161
28,0042,377
547.118.3
134.897.075.1
83.5288.9
70.341.913.418.3
398.4352.5
14.8
159.4
872.3175.081.9
150. 8148. 1
1,269.2575.0
9.9232.6
694.2588.0
519.1
127.2
115.9127.2147.5
118. 9160.7191. 0
15, 4322,044
27, 2092,519
540.818.7
114,581.967.5
84.8276.457.242.719.617.0
375.4331.9
21.1
150.8
800.6184.077.7
142.2120.4
1,334.0568.2
9.1211.9
765.8651.3
477.5
116.0
117.2124.3145.8
121.7153.1186.4
15, 0961,968
25,2932, 343
472. 913.460.683.162.6
80.9
313.576.246.712.620.7
427. 4388. 5
15.4
192.0
930.0182.983. 7
177.1134.7
1, 668. 7745.614.3
310. 0
923.1758.7
610.4
133. 0
116.1143.3166,4
123. 9174.5216.2
17, 5922,102
29, 2662,816
475.314.361.192.169.7
68.3
291. 770.942.217.215.5
354.9299.7
12.3
187.5
804.9155.889.7
138.8115.0
1,429.6616.2
7.8252.5
813.4676.3
496. 1
127.3
117. 3127. 3149. 2
124.8151.9189. 6
18, 6011,910
25,3352,452
516.112.895.594.648.4
88.0341.8100.438.317.815.9
375.3334.6
14.3
169.2
993.7266.5
92.2168.6126.7
1,566.6646.713.1
256.8
919.9778.4
524.8
132.2
116.4137. 1159.5
125.1168.5210.7
19,3282, 046
28,3002, 868
525. 513.378.889.8
102. 488.6
324. 195.642.816.811.5
375.1336.1
15.5
175.6
1,017.7263.491.8
200.6127.0
1, 531. 6672.7
9.0282.4
858. 9705.0
580.9
131.9
118.0130.8154.4
126.7167.9212.7
19, 6312,031
30,0502,860
484.39.9
79.2101.865.9
63.6
316.886.736.916.912.7
378.4341.4
16.3
144.2
940.5256.5
85.7147.9118. 5
1, 247. 2610.714.7
266.6
636^5513.0
595.9
126.5
117.7119.9141.0
126.1152. 7192.5
576. 27.6
111.7128.491. 055.7
316. 990.341.419.616.4
400.2365.8
11.1
168. 0
994.1291.983.3
141.3140.2
1,370.5667.112.0
315.8
703. 4552.8
698.9
135.6
116.7130.0151.7
127.3165.8211.0
TRANSPORTATION AND COMMUNICATION
TRANSPORTATION
Air Carriers (Scheduled Service)Certificated route carriers:
Ton-miles (revenue) total^f mil
Operating revenues9© mil. $..Passenger revenues.. doFreight and express revenues. _. do...Mail revenues do
Operating expenses© _. doNet income after taxes© do
Domestic operations:Passenger-miles (revenue) . bil—Express and freight ton-miles. mil..Mail ton-miles do
Operating revenues© mil. $_.Operating expenses© doNet income after taxes©... do
International and territorial operations:Passenger-miles (revenue) bil . _Express and freight ton-miles. mil..Mail ton-miles do
Operating revenues© mil.$__
Net income after taxes© do....
Local Transit LinesFares, average cash rate .cents.Passengers carried (revenue).. ....mil..
18 166
9,2907,627
750306
9,247—199
104. 152,215
715
7, 1807 181-184
27. 561,299
766
^2,1092 066—15
25.75,903
1 18 685
10,0468,221
826288
9, 71832
106. 292, 275
707
7,747<- 7 500
' 22
29.36
617
2, 2982 219
8
26.65,497
1 840
10.7421153
o o-l1 97
44
26.7422
n iA.
1 573
2, 8012,306
22066
2,482169
8.3222354
2,1011 899
100
2 Q1-ion
44
700583
69
26.7444
1 617
8.6122756
49
26. 7463
1 485
8.0320458
59
26. 7464
H QQ
1 710
2,5572,053
24281
2,4949
9.6621680
1,9901 902
28
IAS67
568592-19
26.8460
1 563
9.30172!55
2 A A
42
27.0436
1ft 97
1 439
8.1918955
9 ftfi19Q
39
437
1 9 f\e
1 669
2,5402,108
20968
2,561-46
9.6021063
2,0051, 986-12
2 At
IAS
44
535575
-34
488
19 97K9 9
1,651
9.5919456
9 fi7
38
447
12 0349 4
1,654
9.1521656
9 00
14038
97 9
460
13 9555 9
1,847
10.68218
55
3 2614138
97 9442
15 1060 9
1,931
11.2819249
3 8214436
27 2384
27 8411
••Revised. * Preliminary. \ ^Annual total reflects revisions not distributed tomonthly or quarterly data.
9 Includes data not shown separately.^Applies to passengers, baggage, cargo, and mail carried.
§Passenger-miles as a percent of available seat-miles in revenue service; reflects proportionof seating capacity actually sold and utilized. ©Total revenues, expenses, and incomefor all groups of carriers also reflect nonscheduled service.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-24 SUEVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
TRANSPORTATION AND COMMUNICATION—Continued
TRANSPORTATION— ContinuedMotor Carriers (Intercity)
Carriers of property, class I :Number of reporting carriersOperating revenues, total ^._mil. $__Expenses, total — _ ___.doFreight carried (revenue) mil. tons..
Freight carried, volume indexes, class I and II(ATA):
Common and contract carriers of property(qtrly.) tf average same period, 1967=100—
Common carriers of general freight, seas. adj.1967=100-
Carriers of passengers, class I:Number of reporting carriers _ ....Operating revenues, total _ .mil. $. .Expenses, total doPassengers carried (revenue) mil-
Class I RailroadsFinancial operations, qtrly. (AAR):
Operating revenues, total9 mil. $__Freight _do ...Passenger © .do
Operating expenses © _ doTax accruals and rents -'_ .doNet railway operating income doNet income (after taxes) © _ _ do.—
Traffic:Ton -miles of freight (net), revenue and nonrev-
Revenue ton -miles, qtrly. (AAR) _doRevenue per ton-mile centsPassengers (revenue) carried 1 mile.. mil-
TravelHotels and motor-hotels: §
Average sale per occupied room dollars..Rooms occupied %of totalRestaurant sales index. ..same mo. 1951= 100..
Foreign travel:U.S. citizens: Arrivals. thous..
Departures doAliens: Arrivals _._ _ do ...
Departures do_— _Passports issued .... „_. do.. ..
National parks, visitsf.. _ do .
COMMUNICATION (QTRLY.)
Telephone carriers:Operating revenues 9 mil $
Station revenues doTolls, message do
Operating expenses (excluding taxes) doNet operating income (after taxes) do . . —Phones in service, end of period ... mil-
Telegraph carriers:Domestic:
Operating revenues mil $Operating expenses . doNet operating revenues (before taxes)... do
International:Operating revenues doOperating expenses doNet operating revenues (before taxes) do
U,35911,05010, 655
554
112.4
111.1
172724.5640.7174.0
11,98210, 913
4209,6501,845
4876229
777.2764.8
41.4314 10,770
13.2555
114
6,6596,4994,0653.4492, 219
45, 753
18,1008,9086,947
11,5963,010104.1
402.5334.634.0
193.7144.939.3
119.0
124.5
172760.9666.5167.3
712,68911, 786
729410, 053
1,939698
6350
752.2738.31.5948,901
13.5654
114
7, 5917,0594,3253,5672,399
48,863
19,8119,6997,655
12, 8863,354108.4
396.8337.031.7
206.0150. 844.3
128.7
14.0156
108
1,065777514449203
9,802
122.0
121.5
73,1022,885
7562,458
478166666
179.3
14.2355
116
768598453325147
4,978
5,0082,4461 9413 325
809107 1
95 582.74.4
50.937 810 2
119.9
15.0662
117
647509365313106
3,417
125.0
13.5253
108
544442305269113
1,931
112.0
124.9
728 416. 08 346. 2886.5
73,0942,888
7622,506
447142
6 fifi
8363 3176.1
51.62285,067
12.3641
116
427530320322121
1,246
5,1462,5261,9593,406
873108.4
111 490.215 7
52 838.911 3
125.7
3 18. 33353103
655500403285158
1,273
129.9
18.0258
109
579531294238227
1, 553
9 5, 0179 2, 4739 1, 9479 3, 199
9 8649110.9
124.0
135.6
73,1953,000
7 63
2,530496170679
185.2
18.7362
132
618674367287327
2,184
10 5, 65310 2, 78910 2, 18410 3, 654
1096010115.8
137.0
19.0766
143
765612381303314
2,898
\_
137.4
19.3566
140
704730386330328
4,390
135.3
7 3, 4373,226
7682,686
512239
199.0
19.5368
136
749j 931
445382329
7,258
127.6
2 54". 9
19.4563
124
1,0551,003
579450249
10,819
-,••
261.7
19.8368
117
23510,393
H78.7
174
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:Acetylene J_._ _. mil cu ftAmmonia, synthetic anhydrousf thous sh tonsCarbon dioxide liquid gas and solidj doChlorine gas (100% Clj)J doHydrochloric acid (100% HCl)t doNitric acid (100% HNOs) doOxygen (high and low purity) O mil cu ftPhosphoric acid (100% PaOs)t thous sh tonsSodium carbonate (soda ash), synthetic (58%
NajO)J thous sh tonsSodium bichromate and chromate doSodium hydroxide (100% NaOH)J doSodium silicate anhydrous doSodium sulfate anhvdroust doSulfuric acid (100% HjSOOt do
14 83413 5701 1159 7601 9976,685
329 7295 685
4 393'l54
10 064645
1 ^fiR
29 525
13 64713 7191 2589 3492 0256 671
313 4166 *034
4 4 275'l31
9 692*605
1 3V1
29 422
1 0381 149
131788158510
20 740468
3549
81844
1012 262
1 0181 099
5 117772166533
23 565500
3419
79147
1062 323
A 1,0551 166'l!2808165552
24 926496
36012
83156
1102 405
1,1191 161
103808171554
24 342471
3569
84053
1112 466
1 0931 245
99842176616
26 274541
41110
87653
1132,742
1 0231 108
91786173588
27 275496
32210
82443
1092,440
1 0021 169
89772170585
26 651' 509
35511
80947
1102 447
9971 237' 115799186625
28 713560
38111
83965
1222 679
9171 280
108807177626
28 691541
36710
84155
1092,646
8931 290'l23845178623
30 353551
38311
88056
1302, 713
r 953f 1 212
129810181
'577r 29 388
r490
34211
837r 54
r H£r 2, 522
9251 150
123838180531
28, 884501
35512
86345
1052,487
1 198
519
494
2,624
r Revised. * Preliminary. 1 Number of carriers filing complete reports for the year.2 For month shown. s See note "§". 4 Annual total reflects revisions not distributed
to the monthly or quarterly data. s Based on six months ending in month shown. «Be-fore extraordinary and prior period items. 7 Reporting roads only; excludes AMTRAKoperations. s For six months ending in month shown. a For 1st qtr 1971, 72 carriers.
10 For 72 carriers. » For 5 weeks.cflndexes are comparable for the identical quarter of each year (and from year to year).©Natl. Railroad Passenger Corp. (AMTRAK) operations for 1971 (mil. $): Operat-
ing revenues, 86; expenses, 179; net income, -55 (Interstate Commerce Comm.). 9 In-cludes data not shown separately. tRevised monthly data back to 1969 will be shown later.
O Not comparable with data in 1971 BUSINESS STATISTICS.§Effective Jan. 1972, data reflect an expanded sample that includes many motor-hotels;
comparable Aug. 1971 figures are as follows: Average sale per room $19.30; occupancy, 65%.IData include visits, effective Jan. and July 1971, to Guadalupe Mts. and Redwood Na-
tional Parks, and effective Jan. 1972, to Arches and Capitol Reef National Parks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-25
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Organic chemicals, production :o*©Acetic anhydride mil IbAcetvlsalicylic acid (aspirin) doCreosote oil mil. gal
Ethyl acetate (85%) mil IbFormaldehyde (37%~HCHO) doGlycerin, refined, all grades:
Production doStocks end of period _ _ _ _ do
Metbanol synthetic mil galPhthalic anhydride mil. Ib
ALCOHOL
Ethyl alcohol and spirits:!Production mil. tax galStocks, end of period - - - - doUsed for denaturation doTaxable withdrawals do
Denatured alcohol:!Production mil. wine galConsumption (withdrawals) doStocks, end of period _ ___ do
FERTILIZERS
Exports total 9 thous. sh. tonsNitrogenous materials _ __ _ do_ _Phosphate materials doPotash materials _ do
Imports:Ammonium nitrate doAmmonium sulfate doPotassium chloride doSodium nitrate _ _ _ _ _ _ _ do___
Potash deliveries (KsO) - doSuperphosphate and other phosphatic fertilizers
(100%P305):Production!.. _ __ _ thous. sh. tonsStocks, end of period do
MISCELLANEOUS , PRODUCTS
Explosives (industrial), shipments, quarterly §mil. lb__
Paints, varnish, and lacquer, factory shipments:Total shipments _mil. $._
Trade products doIndustrial finishes _ _ do
Sulfur, native (Frasch) and recovered:Production. __ ... thous. Ig. tonsStocks (producers'), end of period do
PLASTICS AND RESIN MATERIALS
Production:
Thermosetting resins:Alkyd resins mil. IbPolyester resins __ doPhenolic and other tar acid resins doUrea and melamine resins do _._
Thermoplastic resins:Cellulose plastic materials— do....Coumarone-indene and petroleum polymer
resins _ _ mil. IbStyrene-type materials (polystyrene) doVinyl resins (resin content basis) _ _ _ _ doPolyethylene _ _. . do
U,589.0i 35.2
1 103. 4
1 161. 41 4,426.9
336.129.6
i 742. 7i 734. 0
630.5164.0513. 884.7
276.9276.2
3.0
16, 0051,133
12, 543966
326218
4,165129
4,603
4,596484
2, 046. 5
2, 737. 11, 497. 61,239.4
48,5314,038
i 635. 61 569. 3
1 1, 185. 91 746. 2
i 182. 2
i 282. 61 3, 549. 71 3, 756. 41 5, 844.1
U,545.831.7
119.21 159. 8
14,373.1
339.828.2
i 754. 7i 766. 4
553.8132.8436.588.0
234. 0234.5
2.9
i 17, 1061,050
U3.4311,033
374229
i 4, 549203
5,026
4,966389
2, 120. 0
2, 830. 91, 562. 81,268.2
«8,6204,311
(2)i 637.7U,141.8i 683. 4
(2)
(2)i 3,749.814,075.8i 6,395.8
120.62.69.0
11.6361.8
30.324.261.662.3
43.6146.135.27. 7
19.018.92.8
1,350129
1,00585
1721
40723
325
394382
274.0158.9115.1
7344,190
67.493.257.9
331.5338.9545.1
123.02.97.2
13.8413.2
28.826.857.858.3
46.9138.834.27.9
18.318.42.7
1,66695
1,327101
3111
46347
364
420339
567.7
266.8149.9116. 9
6964, 208
71.9107. 064.2
328.3347.5557.2
116.03.0
10.7
11.7409.0
28.527.860.965.1
:56.4135.037.98.2
20.320.12.9
1,318111
1,01088
1934
354(3)
437
418287
226.8119.6107.2
7694, 321
62.2108.164.9
315.3381.4561.0
115.12.49.7
9.7387.6
29.827.367.872.8
51.6136.737.19.0
18.218.22.9
1,32264
1,07978
1415
4680
404
415343
208.9107. 6101.3
7454,388
58.2105.160.6
326.9363. 4557.1
113. 52.7
10.6
16.7338.3
26.428.272.969.8
46.9132.836.27.5
19.619.62.9
1,30813389985
1713
3162
389
484389
486.9
183.390.892.5
7544,311
55.894.256.8
338.8372.6579.6
120.33.48.8
11.5400.2
26.727.267.566.4
38.0126.535.16.7
18.919.42.4
1,630137
1,209109
2828
46813
423
417389
209.6101.4108.2
7484,374
(2)117. 8
(2)
318.56 332. 4573.5
118.12.7
10.0
13.1419. 1
29.529.464.166.3
43.8123.336.86.5
19.719.62.5
1,56392
1,072121
3634
37714
381
443338
226.0117. 4108. 7
7314,297
109.5
324.1• 312.9
566.8
132.03.1
12.0
17.2449.5
29.028.978.766.7
46.1108.639.07.7
21.020.82.9
1,185123882
67
5236
5826
651
505279
622.6
261.0140.2120.8
7774,274
120.2
357.3354.4625.7
127.03.29.2
16.5408.0
29.926.868.671.0
43.7109.338.27.0
20.620.43.1
2,03468
1,80260
7138
6405
603
489235
252.7143.2109.5
7324,267
121.4
357.7339.1622.8
129.53.1
10.1
21.9462.1
32.229.875.075.9
52.4101.839.88.0
21.822.02.8
1,21654
968118
7314
4531
547
498240
285.8162.0123.8
7384,156
123.1
395.0349.9644.3
119.43.0
10.3
20.5443. 4S
31.426.270.595.0
56.7100.036.88.4
21.021.02.8
2,18278
1,84979
1914
28331
388
••431324
573. 0
' 292. 4' 171. 7' 120. 7
7154,104
122.9
391.2352.8603.9
121. 12.7
'8.9
11.8' 384. 5
'25.726.3
'75.1' 82. 1
54.798.138.66.0
21.121.23.0
1,69775
1,324133
1013
2604
174
427410
257.6160.097.7
7414,159
'116.7
'370.7' 323. 3
604.3
124.22.5
11.3
21.3
32. 125.985.374.2
1,643104
1,217124
1516
29823
'307
416366
285.4166.7118.7
7964,127
123.9
389.8347.3658.0
*387
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), total Jmil. kw.-hr__
Electric utilities, total d o _ _ _ _By fuels doBy waterpower___ _._ _ _ do
Privately and municipally owned util doOther producers (publicly owned). _ _ _ d o
Industrial establishments, total doBy fuels doBy waterpower do
1,639,771
1,531,6091,284,153
247, 456
1,254,583277, 026
108, 162104, 919
3,243
1,717,520
1,613,9361,347,616266,320
1,322,540291,396
103, 585100,325
3,260
154, 507
146, 075125,92322,152
119,75426, 322
8,4328,198
234
146, 241
137, 819118, 84018, 979
114,42823,391
8,4228,197
225
139, 845
131, 043111, 36719, 675
108, 87322, 170
8,8028,553
249
139, 231
130,857110, 42720, 430
107, 72823,129
8,3748,120
254
148,369
139, 724115,94123, 783
115, 02224, 701
8,6458,381
263
153,445
144, 575120, 07824, 497
118, 86025, 715
8,8708,597
273
145,729
137, 301115, 12822, 172
112, 97324, 327
8,4288,190
238
149, 055
140, 056115, 92924,127
115, 01025, 046
8,9998,712
287
140,883
132,138108,70523,434
107, 73024,409
8,7448, '447
298
146,663
137, 745113, 37524,370
112,96024, 785
8,9188,615
303
' Revised. » Preliminary.1 Reported annual total reflecting revisions not distributed to the monthly data,
discontinued. 3 Less than 500 short tons. * Annual total reflects sulfur content, whereasmonthly data are gross weight. 5 Gross weight. 6 Beginning Jan. 1972, data excludepolyvinyl acetale, polyvinyl alcohol, and other vinyl resins; comparable Dec. 1971 figure,320.1 mil. Ib.
©Scattered revisions have been made in the annual data back to 1967; monthly revisionsare not available.
cfData are reported on the basis of 100 percent content of the specified material unlessotherwise indicated. 9 Includes data not shown separately.
§Data exclude black blasting powder.f Revised monthly data for 1970 will be shown later.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-26 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
ELECTRIC POWER AND GAS—Continued
ELECTRIC POWER— Continued
Sales to ultimate customers, total (EEI) mil.kw.-hrCommercial and industrial:
Small light and power§ doLarge light and power § do _
Railways and railroads doResidential or domestic _ _ doStreet and highway lighting _ _ d o _ _ _ _Other public authorities doInterdepartmental do _
Revenue from sales to ultimate customers (EdisonElectric Institute) - mil. $.
GAS
Manufactured and mixed gas:
Residential 1 —~ I-doIndustrial and commercial do
Residential do
Residential do
Natural gas:
Residential __ doIndustrial and commercial... ___do
Sales to consumers total 9 mil thermsResidential... doIndustrial and commercial do
Residential doIndustrial and commercial do
1,391,359
312, 750572, 522
4, 633447, 79511, 18337, 8164,660
22,065.9
53549340
1 480843637
134 685 649 0
41 36837, 9683,344
152 21548,394
103, 821
9 8745* 1224 753
1,466,441
333, 752592,700
4,537479,08011,67339, 8194,880
24,725.2
57053533
1 451828692
137 391 446 0
42 02438, 5513,431
156 83249,454
107,378
10 9145 5705 344
128,685
30, 91249, 698
35143,026
9043,371
423
2, 207. 2
130, 062
31, 24150, 561
34243, 093
9653,445
414
2,253.8
55752234
1546488
15 88 57 0
41 37838,0323, 307
31 1834,186
25,429
1 774 6620 5
1 092 5
123,996
29, 21950, 593
35339, 0221,0183,376
415
2, 148. 9
119, 753
27, 47150,069
37037,0481,0633,348
385
2, 062. 0
123, 145
27, 35849, 606
40040, 8911,1173,374
399
2,121. 0
57053533
357195154
31.423.27.4
42, 02438, 5513,431
39, 42811, 50626, 195
2 773 01 352.21 342.9
128, 150
28,00850, 145
42344,6441,1203 397
414
2,213.9
127, 924
27, 95450, 268
41744, 295
1, 0463,529
415
2,221.3
127, 079
27 95251, 555
41042, 1621 0233 551
425
2,203.4
124, 326
27, 91551, 825
36539, 352
9713,488
410
2, 179. 5
123, 457
28 24753, 161
36836, 813
9283 526
413
2,178.2
128,367
30 51453, 651
33538, 827
9013 671
469
2 286.8
134 108
32 42352 492
34543 899
9063 601'442
2, 412. 0
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGESBeer:
Production mil bblTaxable withdrawals doStocks end of period do
Distilled spirits (total):Production _ mil. tax gal_.Consumption, apparent, for beverage purposes
mil. wine gal__Taxable withdrawals. ...mil. tax gal__Stocks end of period doImports mil proof gal
Whisky:Production mil. tax gal__Taxable withdrawals doStocks, end of period doImports mil proof gal
Rectified spirits and wines, production, totalmil. proof gal. _
Whisky doWines and distilling materials:
Effervescent wines:Production mil wine galTaxable withdrawals doStocks end of period doImports do
Still wines:Production doTaxable withdrawals doStocks, end of period __doImports. do
Distilling materials produced at wineries.-.do
DAIRY PRODUCTS
Butter, creamery:Production (factory) } mil. lb__Stocks, cold storage, end of period doPrice, wholesale, 92-score (N.Y.) $ per lb__
Cheese:Production (factory), total} mil. lb_.
American, whole milk} do
Stocks, cold storage, end of period do__American, whole milk. do
Imports doPrice, wholesale, American, singfe daisies (Chi-
cago) . $ per Ib
' Revised. * Preliminary. 1 Reported annual tmonthly data.
2 Includes Hawaii; no monthly data available.
133. 12121.8612.26
212.29
2 371. 52173. 71
1, 008. 5490.89
146. 36112. 88954. 5875. 59
113. 6764.37
23.0320. 367.381.79
245.04216.97293. 3228. 23
303.08
1, 137. 0118.8.704
12,203.81, 423. 4
324.5254.0161.3
.649
otal revis
137. 36127. 5212. 23
182. 36
2 382. 34182. 01996. 62102. 14
119. 41116.79945.80189.29
116.1163.05
24.6022.108.571. 88
357. 33247. 20366.35i 34. 28
402.38
1,143.696.8.693
12,380.41, 510. 6
304.3238.995.5
.671
ions are n
12.2811.8913.64
10.14
30.6516.99
1,001.437.78
5.8610.64
952. 856.59
10.285.54
2.231.329.80.17
9.1818.73
173.303.59
4.32
81.1246. 8.687
198.9127. S
378.8303. 9
8.9
.670
ot distril
11.4110.9613.31
13.42
30.3717.45
997. 5218.55
8.5611.74
949. 8215.75
10.465.88
2.091.75
10.01.35
57. 6520.42
209. 015.38
113. 99
69.4222.0.692
181.2111.1
357.6283.714.0
.669
DUted to
10.539.80
13.31
17.71
31.3717.92
996. 1610.18
10.7912.34
947. 178.89
10. 976.17
2.052.399.54.22
126. 4422.26
310. 062.99
176.09
79.9188.9.688
184.8109.7
333. 5262.4
6.4
.669
the
9.869.74
12.78
18.35
38.6418.26
993.628.24
11.4112.19
944. 547.46
12.146.85
2.382.818.99.14
69.0523.13
347.501.49
73.30
79.3155.0.688
177.3103. 6
316.7250.9
3.4
.669
§Eclassi
*E
10.029.83
12. 23
18.75
47.2815.52
996. 627.18
11.259.59
945. 806.48
9.774.95
2.662.918.57.12
54.2125.31
366. 352.09
16.45
89.996.8,690
197.8114.6
304.3238.9
9.7
.676
ata arefication.evised d
9.968.75
12.97
18.66
26.0313.97
1,000.986.00
12.868.49
949. 315.14
8.193.69
1.951.369. 07.14
7.9721.17
350. 633.03
4.04
101.579.1.688
199.0124.0
296.2232.113.8
.684
not who'o anotheata for m
10.389.09
13.64
16.27
26. 5912.52
1,003.896.47
12.288.40
952. 825.54
8.194.22
1.201.059.09.15
7.6019.91
335. 343.62
6.76
99.493.1.688
197.3122.9
285.0223.617.2
.707
ly compr. 9 ]onths pr
12.6211.6913.82
18. 76
33.3015.97
1, 006. 668.17
13.3710.38
955. 907.10
10.155.29
1.761.489.24.15
8.2325.69
314. 473.57
2.89
106.8109.7.688
230.8147.7
288.9228.412. 7
.727
arable orincludesior to Ma
12.5311.0914.51
16.50
28.6714.24
1,008.086.69
11.318.86
957.725.76
9.455.11
1.581.089.69.14
4.8421.00
297. 852.87
4.06
110.2130.9.688
232. 1153.9
311.7246. 710.0
.719
i a yeardata noty 1971 w
13.2512.4114.45
18.88
32. 4516.61
1,009.327.45
12.119.72
959.376. 50
10.876.02
1.821.579. 81
.16
8.1621.75
281.433.84
2.92
119.4159.1.688
250.8172.1
346.9277.513.0
.702
to year Ishown s<01 be sho
14.2113.1214.40
16. 50
35.1918.19
1,007.569.27
9.8910. 83
958. 398.20
11.446.36
1.651.789.58.15
7.5124. 24
262. 063.80
.48
111.1194.8.688
257.9176.4
378.9309. 910.1
.702
Dasis beejparatelywn later
13.1812.2214.49
15.83
14.191,001.98
6.99
4.729.36
952. 976.20
8.975.47
.791.019.31.12
7.5217.70
251.813.49
.96
89.4211.4.688
237.8164.2
407.6341.314.9
.707
ause of c
13.0912.8913. 75
6.13
5.26
.12
4.02
76.3' 198. 2
.704
220.0145.6
'409.8'342.0
14.1
.709
hanges fi
177.3. 710
396. 2328.4
.709
rom one
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUKKENT BUSINESS S-27
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS— Continued
Condensed and evaporated milk:
Production, case goods o1 mil. Ib
Stocks, manufacturers', case goods, end of monthor yearcf mil. Ib
Exports:Condensed (sweetened) do
Fluid milk:Production on farms. . mil. IbUtilization in mfd. dairy products doPrice, wholesale, U.S. average $ per 100 lb__
Dry milk:Production:
Dry whole milk _ _ mil. IbNonfat dry milk (human food) do
Stocks, manufacturers', end of period:Dry whole milk doNonfat dry milk (human food) do
Exports: " """"Dry whole milk v doNonfat dry milk (human food) do
Price, manufacturers' average selling, nonfat drymilk (human food) $ per Ib
GRAIN AND GRAIN PRODUCTS
Exports (barley, corn, oats rye, wheat) - .mil. bu
Barley:Production (crop estimate). . doStocks (domestic), end of period.... ...do _
On farms _ doOff farms do
Exports, including malt§ .doPrices, wholesale (Minneapolis):
No. 2, malting $ per buNo. 3, straight do
Corn:Production (crop estimate, grain only) mil. buStocks (domestic), end of period, total. _mil. bu_
On farms.. . doOff farms _ do
Exports, including meal and flour. do _Prices, wholesale:
No. 3, yellow (Chicago) $ per bu._Weighted avg., 5 markets, all grades do
Oats:Production (crop estimate) mil. buStocks (domestic), end of period, total do. _
On farms . _-_ doOff farms _ _ _ _ . . ... do
Exports, including oatmeal. _. . doPrice, wholesale, No. 2, white (Chicago)
$ per bu_
Rice:Production (crop estimate) mil. bags9_.California mills:
Receipts, domestic, rough mil. lb._Shipments from mills, milled rice doStocks, rough and cleaned (cleaned basis), end
of period _ mil. Ib
Southern States mills (Ark., La., Tenn., Tex.):Receipts, rough, from producers mil. lb__Shipments from mills, milled rice doStocks, domestic, rough and cleaned (cleaned
basis), end of period. _ mil. lb__Exports _ _ doPrice, wholesale, Nato, No. 2 (New Orleans)
$perlb__
Rye:Production (crop estimate) mil. buStocks (domestic), end of period... ___do_Price, wholesale, No. 2 ( Minneapolis) _ _ $ per bu__
Wheat:Production (crop estimate), total mil. bu_
Spring wheat doWinter wheat do
Stocks (domestic), end of period, total _ do
Off farms do
1 268. 3
115.7
16 433 3
117, 1498 58 961
5.71
68.781 444 4
4 78 98 5
13 8212 3
263
1, 337. 5
2409.8380.7238.5142. 255.1
1.141.13
24,0993,7362,7231,013572.0
1.351.33
2909913702211
21.3
«.72
283.8
1,7551,393
82
6,4974, 433
1,7483,828
.085
238.841.61.15
2 1,3702260
2 1,1101,492
1,415
884
1,244 8
88 6
35 132 7
118,6408 60, 363
5.87
7 77. 83 1 417 6
4 087 3
25 07 124. 2
.307
7 1, 204. 5
2 462. 5391. 3254.4136. 9
7 53. 2
1.211 20
2 5, 5404,6423,4931,148
7 511. 7
1.3941.36
2876937687251
7.16 .75
284.3
2,0041,446
98
5,5674,206
1,7373,252
.087
250.954.91.06
21,6402476
2 1, 1631,502
1,554
853
105.8
172.9
2 9
9,9035,0425.75
5.6116 7
7.5155 6
5.42.8
.320
81.7
1.6
1.111 11
37.3
1.291.29
.4
.64
12660
109
924458
829190
.087
.94
84.5
163 0
21 2
9 3654 3^75.99
5.386 0
7.0119 7
3 66.5
.320
134.5
487.7316 6171.1
2.8
1.091 09
3 6633 423324068.3
1.151.13
1,086806281
.6
.68
11986
113
1,627498
1,504440
.087
65.1.95
489
1,881834
1,047
79 5
151 5
82 4
9 4194 3716.09
6.586 8
6 7106 5
1.54.1
.320
62^ 6
2.4
1.161.16
25.9
1.101.11
.2
.73
287218
101
1,106427
1, 840395
.087
.96
79 5
111 7
2 92 8
8,9504 1096.17
4.978 6
5.391 3
3.318.4
.321
110.9
2.3
1 151 16
66.7
1.071.09
2
11788
93
397294
1,869160
. 087
.92
92 0
88 6
2 43 5
9 4234 4676.17
4.793 1
4 087 3
1 611 5
319
122 3
391.3254 4136 9
5 5
1 161 16
4,6423 4931 14865 8
1.21-1 20
937687251
3 1
.78
12982
98
439509
1,737232
.089
54.9.93
328
1,554700853
84 0
73 9
1 13 3
9 6354 9916.13
7.098 5
4 676 3
3 510 7
318
106 2
.2
1.191 18
63.9
1.221.22
2 6
9161
97
570610
1, 566276
.089
1.06
85 0
63 8
1 02 9
9,3465 0506.10
6.5100 0
4 068 7
3 37.1
320
109 6
.3
1 181 18
58.6
1.211 21
1 7
8566
86
298375
1,428535
.089
1.08
104 5
61 3
5 09 Q
10, 4405 7876.01
8.2118 0
4 362 2
3 915 4
319
110 5
283.0165 1118 0
2 6
1 161 16
3,3442 447
89748 7
1.231 21
731502229
6 6
10740
115
279341
1, 290219
.089
49.31.05
341
1,213528685
105 5
77 0
3 43 2
10, 6555,9015.84
8.1128 9
5 273 6
2 310 7
322
117.7
3.1
1.161 16
62.0
1.261.23
3 5
10665
120
285430
1,078242
.089
1.06
124 4
107 3
2 82 9
11, 3076,5545.76
8.5153 0
5 693 4
3.424.4
.317
147.7
17.7
1 181 18
63.0
1.291 23
1 9
11968
130
197466
803338
10.091
1.09
130 8
v 123 7
13 2
11, 0216,6735.76
7.3160 0
7 6106 0
2 826.5
.318
152.8
3 174. 23 106 5
3 67.711.6
1 201 21
2,1761 568
60965 2
1.271 20
354933333 216
3 4
16483
165
51396
491528
.091
345.11.02
348
386533573509
109.4
e 144. 3
33 1
10, 5035 8875.78
4.3127 4
7 2107 1
4 917 4
319
137 4
8 9
1 181 17
63 9
1 22
2 6
80
297282
116
208245
395Rd.1
.091
1.01
109.5
138.8
.15.0
10,0655,405'6.01
4.899.4
6.089.7
2.212.5
.322
173.5
2.2
1.181. 18
97.1
1.30.1.21
.4
.79
328259
104
1,128332
858360
.091
1.00
9,494
P6.21
« 418. 2
1.251 25
9 5 266
1.361 28
9731
82
9 85 3
82112
46
.100
9 31 3
1.02
9 i 559fl 3Q1
•1,198
•Revised. * Preliminary. * Less than 50 thousand pounds. 2 Crop estimate for the year.3 Previous years crop; new crop not reported until beginning of new crop year (July for
barley, oats, rye, and wheat; Oct. for corn).- * Effective May 1971, weighted average, 4markets, all grades. « Average for Jan., April-Sept., and Dec. « Average for Jan.-April,June-Oct., and Dec. 7 Annual total reflects revisions not distributed to the months.
» Oct. 1 estimate of 19728 Monthly revisions for Jan. 1970-Apr. 1971 will be shown later.
crop.10 Effective May 1972, price is for No. 2 (Southwest Louisiana) .cfCondensed milk included with evaporated to avoid disclosing operations of individual
firms. §Excludes pearl barley. 9 Bags of 100 Ibs. e Corrected.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-28 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownIn the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat— ContinuedExports total, including flour mil. bu
Wheat only _ _ . do
Prices, wholesale:No. 1, dark northern spring (Minneapolis)
$ per bu__No. 2, hd. and dk. hd. winter (Kans. City).do____Weighted avg., 6 markets, all grades do
Wheat flour:Production:
Flour thous. sacks (100 lb.)_OfTal thous. sh. tons
Qrindings of wheat _ _ - _ _ thous. buStocks held by mills, end of period
thous. sacks (1001b.)__Exports _ d o _ L _ _Prices, wholesale:
Spring, standard patent (Minneapolis')$per!001b_.
Winter, hard, 95% patent (Kans. City). .do
LIVESTOCK
Cattle and calves:Slaughter (federally inspected):
Calves thous animalsCattle do
Prices, wholesale:Beef steers (Omaha) -$per!001b.Steers, stocker and feeder (Kansas Ci ty )__do___ .Calves, vealers (Natl. Stockyards, 111.) do
Hogs:Slaughter (federally inspected).. -thous. animals__Prices: >
Wholesale, average, all grades (Sioux City)$ per 100 lb._
Hog-corn price ratio (bu. of corn equal in valueto 100 Ib. live hog) _ • _
Sheep and lambs:Slaughter (federally inspected)., thous. animals-Price, wholesale, lambs, average (Omaha)
$perl001b._
MEATS AND LARD
Total meats:Production (carcass weight, leaf lard in), inspected
slaughter. _ _ _ _ __ ...mil. lb_.Stocks (excluding lard), cold storage, end of
period _ _ _ _ mil. IbExports (meat and meat preparations) _ _ _ _ do_ _Imports (meat and meat preparations) d o _ _ _ _
Beef and veal:Production inspected slaughter doStocks, cold storage, end of period do _Exports.. __do _ _Imports doPrice, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York) $perlb._
Lamb and mutton:Production, inspected slaughter mil. lb__Stocks, cold storage, end of period do
Pork (including lard), production, inspectedslaughter mil Ib
Pork (excluding lard) :Production, inspected slaughter doStocks, cold storage, end of period __ __ doExports doImports _ doPrices, wholesale:
Hams, smoked composite $perlb__Fresh loins, 8-14 Ib. average (New York) __do
Lard:Production, inspected slaughter _mil. lb__Stocks, dry and cold storage, end of period.. doExports doPrice, wholesale, refined (Chicago) $ per Ib
POULTRY AND EGGSPoultry:
Slaughter (commercial production) mil. lb_.Stocks, cold storage (frozen), end of period, total
mil. lb._Turkeys do
Price, in Georgia producing area, live broilers$ per lb_.
689.1638.7
1.911.541.79
253, 0944,409
563, 714
4,32921, 596
6. 1795.569
3,02430, 793
29.0230.1538.17
78,187
21.86
18.1
10,009
27.43
34,574
759518
1,844
19,48934732
1,319
.490
51419
14, 570
12, 11433667
347
4.542.569
1,77682
366.160
10, 242
391219
.123
627.1688. 3
1.771.61
21.72
249, 8104,279
555, 092
4,36216, 637
6.1455.446
2,80731,419
32.0332.0938.58
86, 667
18.41
14.5
10, 256
27.43
36,207
7961547
i 1, 789
19, 69637544
1 1, 265
.547
52219
15, 993
113,440330
72357
.534
.498
i 1, 842100282
.147
10,357
378223
.128
41.538.3
1.641.561.82
22,164378
49, 403
1,374
6.0635.313
2202,720
32.7732.4135.00
6,922
18.14
15.5
812
27.75
2,966
77251
166
1,667341
3127
.561
3919
1,260
1,065330
730
.536
.515
14282
• 16.158
1,020
462308
.135
62.159.4
1.641.651.63
22,137378
49,301
4,8611,178
5.9755,275
2392,788
32.2131.7238.00
7,379
18.28
16.1
919
27. 50
3,116
77548
223
1,720359
3173
.549
4521
1,350
1,132307
731
.501
.498
1587720
.153
1,003
547389
.130
34.031.7
1.721.581.69
21, 702368
48, 166
982
6.0005.325
2312,667
32.1134.0738.00
7,190
19.19
19.5
919
25.88
3,026
76839
110
1,662355
388
.536
4620
1,319
1,125310
714
.542
.526
1408312
1,009
636475
.115
41.639.5
1.711.601.68
20,090338
44,492
908
6.0135.338
2332,564
33.3034.2338.00
7,566
18.59
19.3
818
24.75
3,072
75643
102
1,612335
570
.559
4219
1,418
1,1983251325
.567
.494
1598238
.149
935
467309
.110
47.745.2
1.701.601.68
20, 961351
46,265
4,3621,060
6.0005.350
2382,528
33.9235.1141.00
7,547
19.94
18.2
846
25.75
3,062
79669
188
1,606375
4143
.579
4419
1,412
1,199330
1038
.639
.501
153100
4.143
870
378223
.105
39.536.5
1.721.621.70
20, 704356
45, 942
1,318
6. 0005.338
2262,556
35.3536.6141.00
6,395
24.02
20.8
847
27.88
2,860
77440
161
1,634363
3103
3.593
4517
1,181
1,008308
349
.604
.607
1237819
.144
825
359211
.120
49.045.6
1.631.611.66
19, 994342
44,464
1,472
5.9885.338
2172,457
35.7436.9244.00
6,280
25.10
23.6
801
28.38
2,747
7083794
1,562316
395
.598
4313
1,143
995287
435
.584
.638
1056618
.144
758
322180
.135
52.549.8
1.631.611.67
21,058361
46, 882
4,5421,169
5.9135.313
2552,698
34.7336.9546.00
7,794
23.19
21.2
903
29.38
3,190
74244
138
1,706297
489
.570
4912
1,434
1,227331
439
.644
.570
1496415
.144
826
266146
.135
49.147.3
1.661.63
21.69
19,654338
43,772
757
5.9135.338
1852,471
34.2036.9346.90
6,733
22. 62
19.9
786
31.00
2,850
81845
159
1,566291
5106
.557
4216
1,242
1,0603951034
.617
. 548
132818
.144
759
237121
.120
65.059.6
1.691.641.71
21,083359
46,897
2,300
5.9255.338
1792, 807
35.2937.7246.50
6,787
24.76
21.7
803
33. 75
3,096
79964
162
1,783284
5111
.585
4220
1,270
1,079381
1928
.588
.614
1399012
.144
893
216111
.125
72.566.7
1.611.531.66
21,133363
47,174
4,3792,494
5.9255.338
1662,833
37. 4838.3747.00
6,312
25.71
22.5
808
34.00
2,996
71058
152
1,762262
4115
.612
4020
1,193
1,012319
14«25
.604
.694
1318313
. 144
975
249142
.135
62.158.8
1.691.611.69
'19,811'343
'44, 155
1,381
6.0255.463
1642,488
37.6538. 8147.00
5,273
27.24
24.1
735
32.88
2,577
63348
166
1,561267
4119
.610
3621
980
839254
632
.605
.699
1026413
.144
935
322214
.150
73.871.7
1.911.861.88
21,399370
47, 656
930
6.5256.163
2082,923
35.1838.2048.10
6,510
27.87
24.3
840
31.25
3,080
••59649
216
1, 847'291
4168
.568
4221
1,192
1,023«• 204
529
.581
.654
121545
.147
1,055
'421'313
.140
2.032.102.05
6.8886.363
34.6941.2949.00
28.41
23.0
30.00
591
307
.553
18
191
.594
.668
.149
521410
.145
r Revised.1 Annual total reflects revisions not distributed to the months.2 Effective May 1971, data are for 5 markets; beginning April 1972, for 4 markets.
s Beginning Jan. 1972, price for East Coast (New York and Philadelphia average).4 Average for Mar.-Dec.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-29
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGS-Continued
Eggs:Production on farms mil. cases OStocks , cold storage, end of period:
Shell. thous. casesO..Frozen. . _ mil. Ib
Price, wholesale, large (delivered; Chicago)$ per doz.-
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:Imports (incl. shells) thous Ig tonsPrice, wholesale, Accra (New York) $ per lb._
Coffee (green):Inventories (roasters', importers', dealers'), end
of period. _ _ thous. bagsd"Boastings (green weight) do
Imports, total doFrom Brazil do
Price, wholesale, Santos, No. 4 (N.Y.)__$ per lb__Confectionery, manufacturers' sales mil. $
Fish:Stocks, cold storage, end of period mil Ib
Sugar (United States):Deliveries and supply (raw basis) :§
Production and receipts:Production thous sh tonsEntries from off-shore total 9 do
Hawaii and Puerto Rico do
Deliveries, total 9 doFor domestic consumption do
Stocks, raw and ref , end of period do
Exports, raw and refined ... sh. tons
Imports:Raw sugar, total 9 thous sh tons
From the Philippines doRefined sugar, total _ ~ _ do
Prices (New York):Raw, wholesale . $perlb_.Refined-
Retail (incl. N.E. New Jersey).... $ per 5 IbWholesale (excl. excise tax) -_ ,__ . . .__„$ per lb._
Tea, Imports thous. Ib
FATS, OILS, AND RELATED PRODUCTS
Baking or frying fats (Incl. shortening):Production mil IbStocks, end of period© do
Salad or cooking oils:Production. _ doStocks, end of period© do
Margarine:Production . doStocks, end of period© doPrice, wholesale (colored; mfr. to wholesaler or
large retailer; delivered) $ per lb._Animal and fish fats:A
Tallow, edible:Production (quantities rendered) mil. IbConsumption in end products... __do _ .Stocks, end of period i_ __ _ _ do__
Tallow and grease (except wool), inedible:Production (quantities rendered) doConsumption in end products ~doStocks, end of period f do
Fish and marine mammal oils:Production _ doConsumption in end products doStocks, end of period f. do
Vegetable oils and related products:Coconut oil:
Production: Crude mil. IbRefined do
Consumption in end products doStocks, crude and ref., end of period f _ . doImports _ do
Corn oil:Production: Crude do
Refined doConsumption in end products doStocks, crude and ref.. end of DeriodlF _ __do
195.1
5150
.425
279.2.341
2,59319, 960
19 7274,712.557
1,910
306
4,7126 6751 497
11, 45911, 3102 792
7,892
5 2171 522
35
.081
.674
.112
135, 202
3 587 6' 132. 9
3,389.175 6
2,230.545 6
.289
558. 2569. 746.7
4, 876. 82 553. 5
396.1
206.969.6
103.5
3 247. 1544.0750.2202.8584.2
474.0440.9449.643.3
199.3
6074
.332
315. 8.268
4,00019 607
i 21 6695 9912.4612 002
302
4 5886 6011 230
11 44411 2912 683
481
5 2621 1 544
48
.085
.695
.117
175, 432
3 515 0127 6
3 ,500. 076 1
2 ,290. 057 1
.308
541.6598.641.3
4, 967. 72 622 7
379.7
257.0r57. 1134. 9
(<*)553.3740.4191.1628.6
485.1440.3446.357.0
16.4
14181
.345
23.2.286
2 720971
.433160
305
10777580
1, 1211,1071 629
84
559179
2
.086
.701
.118
25, 141
305 6120. 7
309.979.0
173.365 5
.312
40.850.157.6
403. 1222.2424.5
58.54.5
155.1
(d)36.253.4
153.130.2
40.133.735.9
'66.8
15.9
13484
.329
24.6.271
5,1984,481
2 754993
.433215
338
17060150
1,1231,1091 450
80
675178
6
.086
.703
.118
19, 427
309.4118. 1
300.266.5
194,763.6
.310
47.651.063.1
438.3236.9409.7
30.45.4
138. 9
(d)47.960.8
143.979.3
42.0,42.238.458.3
16.6
13582
.324
13 8.250
621155
.433204
333
65928095
947935
1 582
59
327112
4
.085
.704
.118
4,631
301 4122 0
276.677.2
188. 264 3
.310
42.153.538.8
409. 9208.7401.2
16.84.1
156.7
(d)56.063.1
154. 267.8
42.433.935.265.0
16.5
9480
.335
10 9.241
875144
.440195
314
1 073333122
903888
2 134
4
281141
1
.086
.704
.118
3,828
306 5118 8
265.474 5
210.160 7
.310
43.553. 536.7
406. 4207.0397.4
6.04.5
147.2
(d)46.862.3
166. 928.2
40.735.740.769.7
17.2
6074
.370
50 3.234
4,0005 299
1 818647
157
302
929441132
1 001990
2 683
55
46424210
.088
.707
.118
11, 862
290.1127.6
308.376.1
219. 457.1
.312
45.247.741.3
438.5219.8379.7
1.64.4
134.9?
(d)39.259.2
191.116.1
33.440.044.857.0
17.3
5271
.300
39 8.259
2 5601 009
167
274
6871 285
41
823812
3 008
31
498543
.092
.704
.118
12, 914
279 4124.9
314. 285 9
207.668 9
.312
42.246.941.6
397.2221.7411.8
1.43.4
96.7
(d)45.057.4
191.522.0
38.735.937.959.0
16 2
4970
.288
39 3.256
2 172877
168
245
39511334
727715
3 059
137
436533
.090
.707
.122
16, 907
289 1122 2
301.080 2
194.771 4
.315
40.358.538.0
376.0229 5392.7
3.84 66.0
(d)44.063.0
174.5144.6
38.740.840.055.4
17 5
8070
.328
27 6.285
4 2545 316
1 137212
163
224
224462153
1 0581 0492 898
50
40813511
.092
709.122
10 276
301 2130 0
348 792 3
201 769 1
.313
46.254.738 7
432 1242 8379 3
3 555 8
(<*)56 866 4
187 167=9
43 536.738.759.1
16 7
9673
.295
28 8.285
1 146286
.463133
212
147612
92
811802
2 874
63
302586
.090
.711
.124
10, 165
278 1136 0
321. 3145 8
181.382 6
.313
41.453.036.4
390. 3227.7366. 6
3.054.2
(d)51.269.7
162.927.3
40.034.632.372.1
16.9
15481
.280
24.4.304
1 784437
.480137
240
147740131
978968
2,672
27
308245
.088
.709
.124
12, 885
291.4130.6
369.9106.1
186. 383 9
.313
43.551.843.7
409.2241.5350.5
3.153.5
0055.073.0
174. 670.4
46.136.435.481.4
16.1
21785
294
25.6.315
3 ,4995,021
1,452443
.485«• 134
251
90574187
1,0961,0882 343
46
627160
2
.088
.692
.124
16, 563
290 5137 7
355{099 g
186.167 1
.313
44.750.744.1
414.2251 6355.4
2 953.2
(<*)53 976 5
179.358.2
45 743.641.281.1
16.4
23488
.330
17.5.320
1,434333
109
'290
121488122
1,001992
r 2, 032
38
411544
' * 091
.692
.124
10,835
'258 5' 120. 8
' 307. 1r89 9
r 164. 268 4
.313
••40. 246.0
••43.1r 360. 4r 201 0r 339. 1
4 352.8
(d)
41 1' 65 3
' 169 453.1
'43 334 036.6
r74.6
16.2
'201'88
.327
13.4.341
1,947383
.625
z>341
61790
v I 592
55
579217
1
.094
695.124
11, 581
314 9114 2
343 688 1
195 771 5
.313
48. 557.838.9
410. 7241 5327.1
4 551.7
(d)48 274 9
130.147.0
43 836.241.566.8
15.5
25983
.373
.360
.590
.094
.124
.313
/Revised. P Preliminary. d Data withheld to avoid disclosure of operations of in-dividual firms. ^ Reflects revisions not available by months. 2 Average for Jan.-Nov.
3 Monthly data not available. * Effective Feb. 1972, data exclude fish oil stock.
O Cases of 30 dozen. cfBags of 132.276 Ib. §Monthly data reflect cumulative revisionsfor prior periods. 9 Includes data not shown separately: see also note " §". AFor dataon lard, see p. S-28. ©Producers' and warehouse stocks. fFactory and warehousestocks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-30 SURVEY OF CURKENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
PATS, OILS, AND RELATEDPRODUCTS- Continued
Vegetable oils and related products— ContinuedCottonseed cake and meal:
Production thous sh tonsStocks (at oil mills) end of period do
Cottonseed oil:Production* Crude mil Ib
Refined doConsumption in end products doStocks, crude and refined (factory and ware-
house) end of period mil Ib
Price, wholesale (N.Y.). . "__$perlb-_
Linseed oil:
Consumption in end products doStocks, crude and refined (factory and ware-
house) end of period mil IbPrice wholesale (IVlinneapolis) $ per Ib
Soybean cake and meal:Production _ _ thous. sh. tonsStocks (at oil mills) end of period do
Soybean oil:Production* Crude mil Ib
Refined doConsumption in end products doStocks, crude and refined (factory and ware-
house) end of period mil IbExports (crude and refined) doPrice, wholesale (refined; N.Y.)___ — — $ per lb__
TOBACCOLear-
Production (crop estimate) _ _ - - _ . __mil. IbStocks, dealers' and manufacturers' end of period
mil. IbExports, incl scrap and stems thous Ib
Manufactured:Consumption (withdrawals):
Cigarettes (small):Tax-exempt millionsTaxable do
Cigars (large), taxable _ _ doExports, cigarettes .. do
1, 726. 385 8
1,211.51 019 2
931 9
184.3369 8.175
314 5191 4
148 5110
17,379.5112.2
8, 085. 96, 276. 36,322.3
755. 61, 372. 4' . 142
1 1, 908
5,006510 325235 428
51 166532, 764
6, 70529, 147
1 720 693 1
1 209 4985 7728 5
188 32 400 7
.190
412 2213 6
224 8089
17,104.2119 8
8 081 56 298 06 322 9
802 221,611 7
.151
i 1,707
4,8282474 2092 248 529
49 200528 858
6,50331,802
66.4101 9
47.051 257 8
142.914 3.206
34 719.4
177 1088
1, 473. 8189.7
692 2532.8537.3
819 278.1.172
41 79115 686
6 85245 595
5524,234
50 381 9
34 344 850 8
93 826 2.201
35 418 0
179 9088
1,265.1121 4
597 5568 6554 0
772 6122 2.155
4,47476 84149 965
7 25145 765
5585,753
161.287 8
111.860 952 9
130 03 1
.182
36 517.6
203 7088
1 362.0177 9
645 2534 5522 0
725 Q143 0.154
3 5091Q f{K\
2 19847 049
595768
208 999 5
149 0102 957 4
159 536 3.177
32 315 3
210 8088
1 366 5167 2
644 2504 2522 2
808 643 5.157
2 375Ifi 9fi'i»
2 68846 061
'6161 246
219.893 1
154.0113 360 5
188.358 5.174
33 316.0
224 8088
1,471.3119.8
690. 6534.1554.8
802.2153.8.139
4,82859 62214 829
2 93939 634
4182 048
212 7103 6
151 1104 053 2
239 423 1.168
38 217 3
236 7088
1, 463. 3131. 3
689 9525 5549 5
782 8157 8. 135
95 44719 363
4 75543' 295
4522,568
191 1107 7
134 990 849 7
277 347 4.168
36 517 6
245 3088
1 387.3115 6
658 9523 4527 6
847 171 3.139
86 99022 128
4 36545' 633
4593,642
216 5126 9
154 4118 266 7
295 050 4.168
44 819 0
263 5088
1,471.9136 8
706 4559 1582 6
881 259 3
, .141
4,53128 58122 549
3 73249 913
5402 577
155. 9145 8
110. 298.348.9
294.847 8.168
36 119.7
280. 9088
1, 346. 5198.9
646. 7534.4545.4
952.769 3.143
17 84917 510
2 74542 581
'4571,959
132.4159.4
97.798.263.5
266.030 6.168
33 222.5
275.3088
1,439.8162.6
698. 8556.6580.6
945.089.0. 138
42 66521 908
3 82648 376
5922,246
101.8137.5
75.888.863.2
239. 749.7.168
39 024.3
276.6095
1,308.8158.1
635.4534.4565.8
829. 7263.3.136
4,18633, 34818 281
4 60849, 127
4732,770
"76.6' 102. 6
••54.4••61.3••55.5
•• 203. 933.5.168
33 2••21.' 9
••263.8.095
1,338.9•• 205. 9
•• 648. 6479.1
r 497. 1f 854. 1
94.1.126
39 ,16417 112
3, 17038, 468
4422,886
87.368.4
61.774.672.0
134.058.3.150
40 423.3
253.0
1, 377. 9178.9
658.1550.6571.8
841.957.5.128
40, 45523 934
2,923
.147
.095
.125
s 1, 727
LEATHER AND PRODUCTS
HIDES AND SKINSExports:
Value, total 9 . _ _ _ _ thous $Calf and kip skins thous skinsCattle hides thous hides
Imports:Value, total? thous $
Sheep and lamb skins thous piecesGoat and kid skins ~ do
Prices, wholesale, f.o.b. shipping point:Calfskins, packer, heavy, 9H/15 Ib $ per lb__Hides, steer, heavy, native, over 53 Ib do__..
LEATHERProduction:
Calf and whole kip _ _ thous. skinsCattle hide and side kip thous hides and kipsGoat and kid ._ thous. skinsSheep and lamb. . _ do
Exports:Upper and lining leather thous . sq . ft
Prices, wholesale, f.o.b. tannery:Sole, bends, light -_ index, 1967=100Upper, chrome calf, B and C grades
index, 1967=100..
LEATHER MANUFACTURESShoes and slippers:
Production, total- -thous pairsShoes, sandals, and play shoes, except athletic
thous. pairs _Slippers doAthletic.. ._ doOther footwear _ do
Exports _ do
Prices, wholesale, f.o.b. factory:Men's and boys' oxfords, dress, elk or side
upper, Goodyear welt index, 1967=100..Women's oxfords, elk side upper, Goodyear
welt.. .— index, 1967=100..Women's pumps, low-medium quality do
145, 2001 316
15 222
51 30018 7013 028
.331
.129
2 71720 3533 979
23, 598
79, 365
114 0
84.3
562 318
451,81696, 1818 9555 366
2,154
113.3
116. 2117 1
155, 8212 222
15 962
52 10019 2831 956
.294
.145
1,62120 4773,148
21, 385
82, 944
114 4
81.8
r 535, 777
••425,875r 98, 147
rS 440r3 315
2, 106
117.5
120.1121 2
11 583198
1 166
4 3001 151' 81
.300.148
1231 650
2601 900
6 540
114 1
87.7
r46 307
'35, 637••9 851
r 641r178
163
118.3
120.2121 2
12, 517127
1 338
4 000920134
.280
.155
1421 726
3161 833
6,830
114 1
77.2
••45 675
••34, 536••10,158
r 769r212
226
118.3
120.2121 2
15 158123
1 565
1 800*531136
. 280
.153
1421 776
3471 781
4 810
114 1
77.2
r45 094r34, 638r 9 531
r 71gr 207
163
118.3
120.2121 2
16 198'l!7
1 696
80019619
.280
.168
1631 780
3351 827
5 976
114 1
77.2
r40 701
••31, 904r 7, 893
r 697r 207
156
118.3
120.2121 2
17 201220
1 656
3 900T314
342
.320
.163
1501 677'344
1 790
9 198
119 5
79.6
r42 913
r35, 721r 6 334
r 696r 162
167
118. 3
120.2121 2
13 489193
1 272
4 1001 021
289
.330
.178
1171 635
2851 502
7 727
121 8
86.8
44 525
36, 7666,939
680140
161
120.1
120.2121.2
12 917' 128
1 153
5 8002 160
314
.450
.190
1261 740' 216
1 773
8 379
124 1
86.8
44310
36,2067,230
722152
151
121. 3
121.5121 2
19 226124
1 686
6 6002 119
285
.450
.233
1421 833
2451 741
9 816
136 4
100. 1
48 706
38,2088,469
853176
203
122.6
121.5124.3
15 866226
1 210
5 8002*139
275
.575
.255
1471 784
2421,708
9,485
152 5
104.6
44 142
35, 9827,292
726142
148
125.5
124.1127 4
19 078158
1 437
7 5002 641
356
.575
.280
1731 881
3401 876
11 487
152 5
106.4
45 169
35,6318 656
723159
142
128.3
125.3130 4
19, 256126
1 317
5 9001 245
415
.560
.293
1531 810
4191,867
10 360
152 5
106.4
r46 224
••36,823r 8 463
r 736r 202
195
130.1
125.3130 4
32,641117
2,152
5 8001 627
198
.560.293
971 211
2191,374
8 406
152 5
109.0
36 385
30, 2535 606
413113
161
131.4
127.9130 4
23, 993180
1,324
5, 7001,393
268
.650
.340
10 935
111.7
222
131.4
127.9130 4
.650
.335
115.3
131.4
127.9
r Revised. 1 Crop estimate for the year.2 Annual total reflects revisions not distributed to the monthly data.
3 Oct. 1 estimate of 1972 crop.9 Includes data for items not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-31
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 j 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
LUMBER AND PRODUCTS
LUMBER— ALL TYPES 9
National Forest Products Association:Production, total.. __.. mil. bd. ft_
Hardwoods doSoftwoods do
Shipments, total ___do__ ._Hardwoods doSoftwoods . - do
Stocks (gross) , mill, end of period, total- doHardwoods _ doSoftwoods do
Exports total sawmill products doImports, total sawmill products do
SOFTWOODS
Douglas fir:Orders, new _ . mil. bd. ft.Orders, unfilled, end of period -do
Production _ _ __ _ do _Shipments __ doStocks (gross) , mill, end of period _ _ _ do
Exports, total sawmill products doSawed timber doB oar ds , planks , scan tlings , etc . do
Prices, wholesale:Dimension, construction, dried, 2" x 4", R. L.
$ per M bd. f t __Flooring,fC and better, F. G., 1" x 4", R. L.
$ per M bd ft
Southern pine:Orders, new _ __ mil. bd. ftOrders, unfilled, end of period do
Production. , do _Shipments doStocks (gross), mill and concentration yards, end
of period mil bd ft
Exports total sawmill products M bd ft
Prices, wholesale, (indexes):Boards, No. 2 and better, 1" x 6", R. L.
1967= 100. _Flooring, B and better, F. Q .1" x 4", S. L.
1967=100__
Western pine:
Orders unfilled end of period do
Production doShipments do
Stocks (gross) mill pnd of period doPrice, wholesale, Ponderosa, boards, No. 3, 1" x
12", R. L. (6' and over) $ per M bd. ft
HARDWOOD FLOORING
Oak:Orders, new mil bd ftOrders unfilled end of period do
Production doShipments doStocks (gross) mill end of period do
34, 4627, 023
27, 439
33, 4906,195
27, 295
6, 3261,4784,848
1 2666,095
7,398467
7,4757,4271 058
38087
292
92. 22
226 76
7, 316373
7,2957 267
1 376
78 418
107. 9
122.9
9 04.1334
9 3789* 371
1 634
83.79
304 49 1
315.2306 733 3
36, 6176,334
30,283
37,6776,828
30, 849
6,266984
4,282
1 0817, 599
8,471666
8 2478,362
943
32988
240
i 117. 68
i 227 78
8 640421
8,4328 592
1 216
64 923
133.7
132.8
10 458qco
10 17510 430
1 382
96.44
323 38 1
306.6320 922 0
3,220502
2,718
3,345583
2, 762
5 5941 1454,449
85624
685715
769757
1 045
176
12
129.92
232 02
724440
721747
1 205
5 140
143.2
136.0
872368
914941
1 437
106.24
27 010 0
28.331.325 1
3,242532
2,710
3,294583
2,711
5,5321,0844,448
72797
735735
715715
1 045
1238
128.88
232 02
690405
715725
1 195
6,973
143.2
136.0
971365
974974
1,437
109. 10
26.98 4
27.327.824 6
3,199674
2 625
3,336607
2,729
5 3971,0534,344
88516
696704
657727975
214
17
128. 59
231 87
744385
756764
1 187
1 760
143.2
136.0
906374
887897
1 427
106. 57
27 88 7
25.227 123 2
3,028636
2,492
3,067554
2,513
5,3581,0354,323
131582
775740
713739949
582137
127.45
226 28
693406
694672
1,209
1 338
143. 0
136.0
786341
806819
1 414
105.14
24.07.4
22.724.421 4
2,924481
2,443
3,015531
2,484
5,266984
4,282
95679
668566
696702943
213
19
130.23
225 35
696421
688681
1 216
7 050
143.4
136.0
847362
794826
1 382
108. 28
24 78 1
23 423 822 o
2,832450
2,382
2,942542
2,400
5, 155891
4,264
92757
819722
685663965
258
17
134. 97
(2)
819519
691721
1 186
4 058
144. 2
136.9
778433
705707
1 380
113. 20
24 910 1
21.822 521 3
3,076467
2 609
3 186610
2 576
5 040*743
4 297
101703
657644
764735994
133
10
135.33
740525
730734
1 182
5 883
146.0
138.1
7894fl7
820808
1 392
117. 69
23 711 4
20 522 618 8
3,383506
2,877
3,566583
2,983
4 857666
4,191
152768
915689
826870950
491534
135. 70
808517
782816
1 148
4 521
149.1
138.7
968424
940951
1 381
121. 77
26 813 7
21.524.216 1
3,272562
2,710
3,422622
2, 800
4,704603
4,101
120745
763700
731752929
361026
137.42
793515
770795
1, 123
7,366
153.4
141.8
919436
882907
1 356
127. 01
22 815 2
19.420.714 7
3,420555
2,865
3,628606
3,022
3,944553
3, 944
126889
777563
810914825
441430
141. 64
767494
776788
1,111
5, 285
154.5
141. 8
956412
953980
1,329
130. 52
26 916 6
21.623.713 1
3,301550
2 752
3,429567
2 862
4,368535
3,834
127761
844645
722762785
409
31
143.55
821499
803816
1,098
3, 912
155. 5
140.7
964426
910950
1,289
134.59
24.515 8
22.325.411 1
3,102542
2,561
3,236588
2,648
4 236489
3,747
170888
735622
738758765
306
24
149.32
788510
744777
1,065
4 760
156.2
140.7
874465
818835
1, 272
135. 18
18.515.8
17.118.59 7
132690
35
149. 72
5,044
158.5
140.7
139. 34
1224
150. 30
159.6
141.5
138. 78
METALS AND MANUFACTURES
IRON AND STEELExports:
Steel mill products thous sh tonsScrap doPig iron do
Imports:Steel mill products __ doScrap doPig iron _ _ __ do
Iron and Steel Scrap
Production _ thous. sh. tonsReceipts, net doConsumption __ doStocks, end of period do
Prices, steel scrap, No. 1 heavy melting:Composite (5 markets) $ per Ig. ton--
Pittsburgh district. _ _ _ ._ do-___
7 06210 365
*310
13 364'346266
4 52 5754 34 1434 85 559
7 668
40.7242.00
2 8276 256
34
18 304325320
4 49 igg4 33 9874 82 5674 3 494
33.1936.80
164552
4
1 5543339
2,5562,1164,5837 863
29.9036.00
286794
3
1 7803754
3 2012 4195 6247 898
31.7836.00
172373
1
1 4372818
3,4982,8215,9668 260
31.5335.00
248284
(&>
1 4722724
3 4202 4905 8228 357
29.7034.00
OQ7
4943
1 3363135
3 5572*3916 0238 298
28. 9333.00
208332
1
1 093297
3 7952 9266*9503' 251
31.0336.00
221519
2
1 1293154
3 9492 9386, 9138 219
32.8438.00
261588
1
1 095305
4 3833 6377,9678 310
33.6636.00
199469
(3)
9302634
4,4803,4157,9428 293
32.7435.50
245614
1
1,6034862
4 5453,4778,0628 230
33.6837.00
211653(3)
1,5992771
4,3423,3017,5098, 373
33.3636. 00
220760
2
1,5313478
*>4,043»2,794v 6, 705v 8, 505
34.2438.50
301595
(3)
1,7872443
35.6840. 50
35.7640.50
* Revised. * Preliminary. 1 Beginning Jan. 1971, data reflect changes in size specifica-tions, and are not comparable with those for earlier periods. 2 Series discontinued.
3 Less than 500 tons. 4 Annual data: monthly revisions are not available,include data for types of lumber not shown separately.
9 Totals
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-32 SUEVEY OF CUKRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Ore
Iron ore (operations in all U.S. districts):Mine production. _.thous. Ig. tons..Shipments from mines doImports _ _ _ __ _ _ do
U.S. and foreign ores and ore agglomerates:Receipts at iron and steel plants.. doConsumption at iron and steel plants doExports _ _ do
Stocks, total, end of period doAt mines _ _ doAt furnace yards doAt U.S. docks do
Manganese (inn. content), general imports do
Pig Iron and Iron Products
Pig Iron:Production (excluding production of ferroalloys)
thous. sh. tons_-Consumption doStocks, end of period do
Prices:Composite __$ per Ig. ton._Basic (furnace)—. doFoundry, No. 2, Northern . do
Castings, gray iron:Orders, unfilled, for sale, end of period
thous. sh. tonsShipments, total _ do
Forsale.... _ __ __ _ doCastings, malleable iron:
Orders, unfilled, for sale, end of periodthous. sh.tons
Shipments, total doForsale _ do
Steel Raw and Semifinished
Steel (raw):Production thous. sh. tons..
Index _ _ daily average 1967— 100Steel castings:
Orders, unfilled, for sale, end of periodthous. sh. tons
Shipments, total doFor sale, total _ do
Steel Mill Products
Steel products, net shipments:Total (all grades) thous. sh. tons..By product:
Semifinished products doStructural shapes (heavy), steel piling doPlates doRails and accessories do
Bars and tool steel, total doBars: Hot rolled (incl. light shapes), .do
Reinforcing doCold finished do
Pipe and tubing... doWire and wire products- _. doTin mill products doSheets and strip (incl. electrical), total do
Sheets: Hot rolled doCold rolled do
By market (quarterly shipments) :Service centers and distributors doConstruction, incl. maintenance doContractors' products.. doAutomotive.. . do
Rail transportation doMachinery, industrial equip., tools doContainers, packaging, ship, materials doOther . do
Steel mill products, inventories, end of period:Consumers' (manufacturers only). .mil. sh. tons.
Receipts during period doConsumption during period do____
Service centers (warehouses) doProducing mills:
In process (ingots, semifinished, etc.). doFinished (sheets, plates, bars, pipe, etc.) do
Steel (carbon), finished, composite price.. .$ per lb_.r Revised. » Preliminary. 1 Annual data; ir
available. 2 For month shown.
89,76088,01144, 876
125, 107123, 261
5,4941 71,500i 15,316
52, 7813,403
990
91, 435190, 797
2,082
69.3369.2670.33
88813, 9458,173
78852521
1131,514103.4
3211,7241,416
i 90, 798
7,3876,0608, 0651,590
14, 5778,1074,8911,4907,7782,9987,243
35, 10112, 31914, 250
117, 678110, 56514,440
114,475
i 3, 098i 5, 16917,775
127,598
9.467.167.5
7.2
12.810.5
. 1014
lonthly o
i 80, 762i 77, 692
40, 124
114, 051108, 966
3,061
78, 71417, 55257, 7383,424
1,019
81, 299i 81, 178i 1, 779
76.0375.8377.00
83513, 8407,428
88882505
1 120, 44394.7
2811,58715 290
i 87, 038
4,9625,6667,9391, 564
14, 1568,1794,5211,3787,5742,7916,811
35, 57411,76014, 898
116,18419,54114,946
i 17, 483
3,0044,9037,212
123,765
10.067.667.0
7.5
10.79.0
.1089
r quarterl
6,7378,2643,969
11,1535,041
187
71, 74818, 60551, 0912,052
119
3,7013,3391,940
77.7078.3379.50
770985598
837242
5,77453.4
29911291
3,703
14419026765
703310307
79492138229
1,475471545
14.63.85.1
8.0
10.47.8
.1123
y revisic
8,3259,0012,920
11, 6956,902
203
76, 20517, 94555, 8842,376
99
5, 1485,1461,886
77.7078.3379.50
7451,111
600
827446
7,67873.4
293132109
4,522
35431339589
81035433682
428170328
1,634562569
3,4802,1171,0352,637
556873
1,6385,051
13.14.15.6
7.5
10.88.6
.1129
ms are i
6,3097,9693, 166
10,1447,388
281
77, 98316, 39858, 6402,945
40
5,5325,4731,829
77.7078.3379.50
7791,174
640
807946
8,21176.0
278129103
5, 183
37135145095
88847131991
440202361
2, 026744728
11.63.95.4
7.2
11.19.0
.1129
lot
5,5075,9893,220
8,3557,130
119
79, 13015, 94259, 8653,323
41
5,3505,3841,801
77. 7078.3379.50
8061,098
595
847240
8,05377.0
26111492
5,791
387352430100
90350529695
470198576
2,375825945
5,3603,8912,161
5,8798,006
163
78, 71417, 55257, 7383,424
102
5,9305, 9011,777
77.7078.3379.50
8351,014
548
887042
8,78481.3
281129104
6, 104
385384492135
94055228795
489195476
2,609920
1,034
3.392| 1 . 710
10.64.35.3
7.2
10.99.0
.1129
9522,940
567885
1,4275,205
10.04.34.9
7.5
10.79.0
. 1134
4,5852,0371,317
3,4798,668
20
75, 82220, 13052, 5503,142
104
6,6176,5841,783
77.7078.3379.50
8091,174
568
797742
10,00192.6
30012199
6,588
323347538131
1,091642272170450202410
3,096978
1,454
10.05.35.3
7.1
11.39.2
.1171
4,5861,6491,701
3,1909,001
14
72, 72323,15646, 7302,837
92
6, 5986,3791,742
77.7078.3379.50
8441,179
583
878045
9,98098.7
304132109
6,649
322378547140
1,113689294123526214462
2,9461,0301,188
9.55.15.6
6.9
11.29.6
.1180
5,0511,7491,732
4,18810, 505
149
68,71926, 48140, 412
1,826
87
7,7087,5991,732
77.7078.3379.50
9141,297
662
868649
11,588107.3
317149123
7,927
417491641158
1,393850387148709257533
3.3271,1611,324
4,0222, 0621,1014,481
7301,2021,5336,031
9.15.76.1
7.1
11.29.7
.1191
5,9332,9721,775
5,06910, 482
56
65, 55429, 41434, 9991,141
65
7,7267,6291,666
77.7078.3379.50
9251,299
696
818145
11,588110.8
298132106
7,622
387462618153
1,296770381138652254521
3,2801,1421,331
9.05.85.9
7.3
11.510.0
.1191
7,6779,3023,357
12, 06910,802
94
65, 13827, 79036,2471, 101
52
8,0127,9651,676
81.7080.8883.25
'943> 1, 358
'731
768249
11,937110.5
' 267'137••111
8,121
412479645155
1,405826423148699261600
3,4631,1831,437
8.96.06.1
7.1
11.910.1
. 1191
7,4489,2404,191
12, 6769,901
239
66, 29825,95239, 0221,324
72
7,4277,3741,688
81.7080.8883.25
9511,328
733
788251
10,980105.0
294153127
7,971
430456615137
1,345791399147671289642
3,3871,1661,361
4,8072,4331,2984,641
6821,3771,8766,589
8.95.85.8
'7.0
11.810.0
.1191
7.1019,4423,336
12, 2059,785
289
66, 69723, 64541, 4241,628
78
7,321*7,167'1,799
81.7080.88
10,34195.7
6,875
357451541106
1,132654352120582210526
2,9711,0951,142
2 1, 49527612420
2 1, 257
215323802563
2 1, 847
9.24.94.6
7.2
11.910.2
.1191
4,141
13, 5819,933
329
45, 0711,576
97
7,385
81.7080. 8883. 25
10,842100.4
7,805
395488609108
1, 339775419139664258577
3,3671,2091,306
1,577869450
1,502
179470613
2,145
9.15.65.7
11.910.0
. 1191
81.7080.88
10, 913104.4
.1191
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUEKENT BUSINESS S-33
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
METALS AND MANUFACTURES—Continued
NONFERROUS METALS AND PRODUCTSAluminum:
Production, primary (dom. and foreign ores)thous. sh. tons. _
Recovery from scrap (aluminum, content). .do
Imports (general):Metal and alloys crude doPlates sheets, etc do
Exports:Metal and alloys crude doPlates sheets, bars, etc.* do
Price, primary ingot, 99.5% minimum.. _$ per lb_.
Aluminum products:Shipments:
Ingot and mill prod (net ship ) mil IbMill products total do
Sheet and plate doCastings - do
Inventories, total (ingot, mill prod., and scrap),end of period mil. Ib
Copper:Production:
Mine, recoverable copper thous. sh. tons. _Refinery primary do
From domestic ores doFrom foreign ores do
Secondary recovered as refined do
Imports (general):Refined unrefined scrap (copper cont ) do
Refined doExports:
Refined and scrap _ doRefined do
Consumption refined (by mills etc ) doStocks refined end of period do
Fabricators' doPrice, electrolytic (wirebars), dom., delivered
$ per lb-Copper-base mill and foundry products, shipments
(quarterly total):Brass mill products mil IbCopper wire mill products (copper cont } doBrass and bronze foundry products do
Lead:Production:
Miine recoverable lead thous sh tonsRecovered from scrap (lead conf' ) do
Imports (general), ore (lead cont.), metal.. .doConsumption, total do
Stocks, end of period:Producers', ore, base bullion, and in process
(lead content) ABMS thous sh tonsRefiners' (primary), refined and antimonial
(lead content) thous sh tonsConsumers' (lead content)^ doScrap (lead-base, purchased), all smelters
(gross weight) thous sh tonsPrice, common grade A $ perlb__
Tin:Imports (for consumption) :
Ore (tin content) lg. tons__Metal» unwroughti unalloyed do
Recovery from scrap, total (tin cont ) doAs metal do
Consumption, total doPrimary do
Exports, incl. reexports (metal) do__-_Stocks, pig (industrial), end of period doPrice, pig, Straits (N.Y.), prompt $ perlb__
Zinc:Mine prod recoverable zinc thous sh tonsImports (general) :
Ores (zinc content) . doMetal (slab, blocks) . _ do
Consumption (recoverable zinc content):Ores _ _ doScrap, all types do
Slab zinc:Production (primary smelter), from domestic
and foreign ores thous sh tonsSecondary (redistilled) production doConsumption, fabricators. __doExports _ _ _ _ _ d oStocks, end of period:
Producers', at smelter (Z I )O____ do _ _ _Consumers' do
Price, Prime Western _. $perlb..r Revised. *> Preliminary. i Annual data; me2 Average for 11 months. 3 Less than 50 tons.AEffective Dec. 1971, nationwide delivered price s
3, 976. 11940.0
350.278.7
408.5146.0
.2872
9,952.57, 358. 03, 688. 61,506.5
4,387
1,719.71, 765. 11, 521. 2
243.9475.0
394.2132. 1
348.9222.0
i 2, 042i 348. 0i 187. 0
2. 583
2,5132,329
751
571.81597.4
357.11, 360. 6
179.4
97.9U33.5
173.3.1562
4, 66750, 554
120,001i 2, 574
i 73,837i 53,027
4,96611, 3181. 7414
i 534. 1
525.8270.4
H24.81259.9
1877.8177.2
1 1, 187. 0.3
i 98. 3189.6.1532
nthly rev4 Jan.-M
ubstitutec
3, 925. 2852.0
560.471.0
112.3149.0
.2900
10,258.27, 846. 23, 976. 41,577.2
5,029
1,522.21, 591. 81, 410. 5
181.3371.0
365.8162.1
283.0187.7
2, 014277. 4174.4
2. 5201
2,7112,354'751
578. 6572.7
261.71,431. 5
154.7
51.8118.7
72.1.1380
3,060146,940i 17, 973i 2, 870
i 69,950i 52, 415
2, 3069,804
1. 6734
••i 491.4
342. 6319.6
i 119.3i 277.4
i 772. 974.5
1 1,254. 113. 3
141.3i 104. 3
.1613
isions are[ar. 1972.I for N. Y.
333.476.0
38. 15.7
5.612.2
.2900
814.3653.7339.5124.3
4,746
105.674.063.210.924.5
37.023. 2
10.15.4
154.5229.8168.9
.5290
48.246.1
13.9123. 2
163.1
74.3126.4
66.7.1412
125,2061,720
2455, 1853,760
39811, 2051. 6607
41.2
18.128.5
10.821.1
51.75.6
97.5
62.6100.9.1700
not avai*Ne\*
-basis pr
325.865.0
43.77.4
12.618.9
.2900
878.0674. 4342.6134.2
4,774
115.1103.1
90.912.129.8
41.520.2
16.410.4
151.9224.4143.6
.5289
641557
••166
51.049.1
24.4130.6
165.9
63.1122.8
63.7.1412
5975,2071,685
2605,8704,455
40010,9051. 6729
38.2
24.041.7
15.720.7
45.75.7
101.20
56.994.6
.1700
lable.T series,ice.
329.077.0
31.54.2
4.07.8
.2900
779.5620.6297.8143.4
4,881
135.3138. 6124.314.337.0
21.315.5
7.44.1
174.6242. 8142.1
.5284
48.751.6
18.6127.8
158.9
57.1114.1
66.3.1416
9201,8581,680
2505,9104,465
199,025
1. 6770
40.1
23.817.6
7.521.6
61.26.3
104.6.1
51.191.3
.1700
314.272.0
24.03.1
7.712.6
.2900
786.7618.1303.5138.1
4,992
136.8145.9130.615.335.9
18.213.4
15.69.4
167.2260.7154.0
.5224
49.350.6
20.7121.1
153.3
48.2116.9
64.6.1388
03,1801,595
2655,8004,155
98,520
1. 7539
40.8
20.325.5
10. 121.0
61.45.9
100.5(3)
52.997.1
.1700
cflnOPi
324.575.0
48.55.5
6.915.1
.2900
843.3629.1320.1135.5
5,029
134.9149.7137.5
12.231.4
49.217.8
29.420.8
155.1277.4174.4
.5032
669584
••171
56.146.0
23.5117.3
154.7
51.8118.7
72.1,1402
05,4141,485
2605, 6103, 920
239,804
1. 7436
39.3
27.743.4
11.220.5
64.55.9
105. 8(3)
50.698.4
.1700
eludes seoducers'
326.177.0
46.810.7
13.414.4
.2900
863. 3670. 3354.1149.3
5,053
130.2141.2127.114.136.1
29.012.6
18.810.5
» 293.0
.5032
48.845.3
26.6115. 5
141.0
57.9122.7
74.2.1400
1974, 9711,665
2055,3704, 125
5112, 0051. 7131
37.8
33.227.3
11.320.5
62. 06.0
106.6.7
50.595.0
.1700
sondarystocks el
313.685.0
43. 95.3
3.512.1
.2900
913.1713.7369.9152. 6
5,038
139.0146.3133.512.927.3
26.28.6
34.826.6
.5061
53.341.8
18.9116.7
145.4
50.2121. 5
74.8.1460
4695,9751,710
2505, 4704,100
8612, 6701. 7200
39.8
31.031.3
11.621.1
56.25.6
113.4.6
37.892.0
.1700
smelters'sewhere,
336.287.0
70.09.0
6.713. 5
.2900
1,017.4796.9410.3162.3
5,004
147.4173. 7152.321.436.9
38.916.1
33.122.8
4523.0v 289. 0P 165. 0
.5257
705642166
55.754.2
42.5
151. 1
v 37.8133.5
71.1.1550
4413,0191,815
2256, 1904,605
11811, 2471. 7981
45.6
23.453.5
12. 821.1
60.75.9
126.01.5
29.497.6
.1730
lead stocend of S
330.892.0
55.06.1
6.412.3
. 2900
945.9732.4376.4157.5
4,980
140.7153.5139.514.0
29.910.5
26.720.2
. 5257
52.251.9
22.5116.5
155. 9
29.0133.4
69.2.1557
03,7931,650
2755,7504,410
19110, 6301. 8198
41.5
29.924.7
13.120.9
57.25.7
122. 11.3
23.493.2
.1774
;ks in refept. 1972
346.494.0
73.46.4
7.512.0
.2636
1,064.5818.1416. 8
'165.8
4,915
144.8164.4149.415.0
33.513.6
20.814.4
.5257
54.255.0
30.5124.6
153.2
35.9132. 1
64.2.1560
3226,2481,655
2706,1504,690
23512, 5351. 7792
43.7
24.639.0
11.822.1
63.15.7
128.30
21.296.9
.1787
mery sha10,500 s
339.991.0
66.37.7
8.413.7
.2500
'1,047.5r 840. 8' 440. 0
160.3
4,871
r 137. 7159.4143.515.9
35.925.1
19.212.9
.5257
'51.250.4
51.8122.9
158.6
40.3135.3
66.6. 1550
04,7011,770
2455,9854,660
4211,2401. 7503
.«"41.8
24.959.8
12.222.3
64.34.9
121.7
21.3' 111. 4
.1800
pes andhort tons
348.578.0
44.85.9
7.711.6
.2500
892.8726.8387.4119.9
4,925
114.9128.2114.114.1
44.714.1
17.911.0
.5063
52.848.9
17.191.0
159. 1
55.3142.6
62.8.1550
1,0722,842
5,2304, 150
16211, 2151. 7661
40.4
14.744.9
11.221.3
59.53.8
97.90
26.7125.0.1800
n copper>•
39.27.5
7.39.7
.2500
35.618.5
18.311.1
.5061
22.9
.1541
03,406
95
1. 7912
8.940.6
23.5
.2500
.5061
.1500
1. 8199
v
28.0
. 1800 . 1800
-base scrap.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-34 SURVEY OF CUREENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
METALS AND MANUFACTURES—Continued
MACHINERY AND EQUIPMENT
Foundry equipment (new), new orders, netmo avg shipments 1967 — 100
Heating, combustion, atmosphere equipment, neworders (domestic), net, qtrly. . mil. $
Electric processing heating equip.. doFuel-fired processing heating equip ._ do
Material handling equipment (industrial) :Orders (new), index, seas, adjt ..1967=100--
Industrial trucks (electric), shipments:Hand (motorized) numberRider-type _ _ . do
Industrial trucks and tractors (internal combustionengines), "Shipments number
Industrial supplies, machinery and equipment:New orders index, seas, adjusted*. _ 1967-69= 100__
Industrial suppliers distribution:Sales index, seas, adjusted*. ....1967=100..
Machine tools:Metal cutting type tools:
Orders new (net) total mil $Domestic do
Shipments, total doDomestic do
Order backlog, end of period . __ do _ _
Metal forming type tools:Orders new (net) total do
Domestic doShipments, total do
Domestic doOrder backlog, end of period do
Tractors used in construction:Tracklaying, total units
mil. $..Wheel (contractors' off-highway) units. _
mil. $..Tractor shovel loaders (integral units only), wheel
and tracklaying types _ units. .mil. $
Tractors, wheel (excl. garden and contractors' off-highway types) units.,
mil. $..
ELECTRICAL EQUIPMENT
Batteries (auto, replacement), shipments thous..Electronic components, factory sales:
Semiconductors:Discrete devices mil $Integrated circuits do
Tubes, selected power and spec, purpose... do.. ..Microwave doElectro-optical doHigh vacuum, gas, and vapor... do
Capacitors doMotors and generators:
New orders, index, qtrly 1967=100..
Radio sets, total, production thousTelevision sets (incl. combination) , prod do
Household electrical appliances, factory sales:Air conditioners (room) _ thous..Dishwashers* doDisposers (food waste)* ... _ . doRanges doRefrigerators doWashers _ doDryers (incl. gas) doVacuum cleaners do
GAS EQUIPMENT (RESIDENTIAL)
Furnaces, gravity and forced-air, shipments* thous..Ranges, total, sales* doWater heaters (storage), automatic, sales* do
155.6
188.5
} 150.9
103.3
13,81614, 811
41,194
101. 0
105.9
651. 30506. 75992. 90827.35470. 7
261. 25226. 60450.15411. 60234.8
i 19, 4361464.615,0991 170. 5
i 24, 6221 581. 1
1 175,3091847.0
37, 863
1769524
1335144191180483
98.3
16,4069,483
5,8862,1161,9762,3625,2864,0932,9817,382
1,4712, 3622,785
84.2
63.7( 7.5I 30.3
99.6
12,64414,621
49, 289
102.6
104.7
608.75524.10672. 30554. 20407.5^
252. 40223. 20325. 60285. 60161.8
118,5201479.614,3341166.9
127,145i 640. 9
1165,343i 891. 9
39, 144
1621534
1300124180176435
87.0
18,57911, 197
5,4382,477
12,2912, 7145,691
14,6083,3777,973
1,7952,5493 ,088
53.2
105.6
934889
3,441
106.3
105.7
60.4054.5040.9033.35405.4
17.9014.6521.6516.90182.3
3,606
48.344.6
35.4
1,149844
149.5232.8197.6254.5576.7424.3324.0,692.2
167. 0232.5262.1
48.4
14.11.85.9
110.8
1,1121,299
4, 209
106.5
110.1
49.8544.1558.9047.40396.4
25.4024.6021.9018.65185.8
4,051109.22908
233.2
6,295156.1
41,526212.2
4,402
56.550.760.127 814.717.638.8
85.5
< 1, 843« 1, 195
118. 3220.9239.2233.0507.8495.0370.1827.5
187.9254.2235.8
79.5
85.6
1,2111,509
4,838
105.2
102.4
45. 0041.7547.9038.75393.5
21.0516.2527.3020.75179.6
4,310
52.846.4
37.4
1,725912
120.8299.9219.0286.3650.0446.2385.3825. 7
197. 1223.0262.8
69.1
111.7
9531,229
3,900
104.3
112.0
55.4550.8041.7036.45407.3
22.6018.4526.4020.00175.8
4,264
51.747.5
34.5
1,535941
258.6266.5228.2260.8477.5409.2354.7712.7
158.3213.7230.2
117.6
14.42.25.9
108.4
1,1981,451
4,771
106.7
117.2
70.8062.7570. 6562. 60407.5
20.7519. 9534.8032.40161.8
4,15599.02 687
225.9
6,498139.9
43 482246.2
4,160
66.751.771 032 018 320 739.5
86.5
* 1, 9284 1, 184
320.8200.4199.8232.2406.5366.3315.8623, 8
147.5215.0224.5
72.9
111.6
1,0041,128
2,764
107.2
108.0
51.1547.9539.6033.65419.0
19. 6017.9516.3513.70165.0
3,804
53.847.9
33.5
1,2761,002
476.3206.4201.6244.1428.8412.8347.4748.8
161. 7181. 9267.4
70.5
116.0
1,0931,205
3,022
105.8
114.2
60.8055.2546.4040.10433.4
24.9521.8022. 7019.30167.3
3,654
54.452.7
33.4
1,336956
541.9227.9212.2238. 3446. 2381.5304.6884. 7
159.8210.9293.8
90.8
16.22.57.4
114.9
1,2971,404
3,282
108.0
119.4
95.7077.3566. 7548.15472.4
23. 4021.7533.5028.85157.2
5,795157.9
21,021232.1
11,938202.5
52,993313.1
2,826
63.757.977.034.622 020.438.9
85.5
* 1, 857* 1, 286
611.9242.6259.3245.2471. 9425.0304.3743.1
170.6261. 6304.2
78.0
107.6
1,2531,279
3,281
112.8
112.8
66.7057.2049.5544.40489.6
27.6526.5026.3521.95158.5
2,249
60.756.9
35.5
1,6161,012
704.2263.2210.7274.3515.5373.7248.8634. 1
169. 8211.2278.0
62.1
112.6
1,2501,314
3,265
117.5
120.9
80.4569.9057.1548.25512.9
29. 7526.0023.6521.50164.6
2,558
60.357.3
34. 8
1,420995
681.2268.8210.9273.5583.6408.8263.1599.7
153.4221.2251.0
67.0
23.84.0
12.8
125. 9
1,2831,685
3,940
120.1
119.5
75.0066.7070.0563.00517.8
40. 1038.4533.8530. 45170.8
5,682153.21,70769.2
12,037214.1
52, 571310.5
2,794
67.560.3
37.7
*103. 5
4 1 ,9544 1 ,312
407.5262.9243.8243.0563.0408.7255.1583.5
165.5238.5244.1
54.6
129.8
1 ,1021,282
2,788
119. 9
112.6
78.6064.6547.8042.25548.6
25.8022.9024.6022.65172.0
3 1, 655344.8
311,026366.8
' 3, 178
32.3
1,314793
280.6236.1210.7269.3637.4406.9272.2498.1
'156.3'169. 4'240.8
58.4
123.5
127.2
77.1568. 9048.6044.15577.2
31.1529.4519.5017.40183.6
31,6533 46. 3
3 12, 526380.9
4,086
1,543963
129.7293.8250.3297.4629. 2505. 1375.1689.5
172.8225.2243.5
121.5
4, 157
42,194* 1, 451
PETROLEUM, COAL, AND PRODUCTS
COALAnthracite:
Production _ _ _ _ thous. sh. tons..Exports . _ doPrice, wholesale, chestnut, f.o.b. car at mine
$persh. ton..Bituminous:
Production thous. sh. tons. .
19,481789
16. 565
602,932
8,589671
17. 673
••1548,000
81376
17. 346
'56,185
765105
17. 444
54,042
70817
17. 346
11,768
68336
17.346
26,133
65466
17. 346
55,599
55829
17. 738
47,520
51864
17. 738
46,325
59626
17.738
51,040
46725
17.738
49,840
67677
17.738
53,020
49387
17. 738
49,565
44531
17. 738
40,210
'65949
18. 130
'51,265
704
19.110
48,435
' Revised. v Preliminary. i Annual data; monthly or quarterly revisions are notavailable. 2 Excludes figures for rubber-tired dozers (included for other periods). 3 Formonth shown. 4 Data cover 5 weeks; other periods, 4 weeks.
^Effective with the Apr. 1972 SURVEY, index reflects new seasonal factors. Revisions for1969-71 appear at bottom of p. S-34 of the Apr. 1972 SURVEY.
*New series. Industrial supplies (marketed through distributors)—orders index (American
Supply & Machinery Mfrs. Assn.), based on 2-month moving average of selected membersnew orders, is also adjusted for number of working days. Sales index (National and SouthernIndustrial Distributors Assns.) is based on selected panel of members' operations which covernational sales for maintenance, repair, and operations for all types of industries. Dishwashersand disposers (Assn. of Home Appliance Mfrs.) and gas equipment (Gas Appliance Mfrs.Assn.) reflect total industry sales. Monthly data prior to 1971 are available upon request.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CURRENT BUSINESS S-35
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
COAL — Continued
Bituminous — ContinuedIndustrial consumption and retail deliveries,
total 9 . thous. sh tonsElectric power utilities doMfg. and mining industries, total __ ^ do
Coke plants (oven and beehive)... do.__
Retail deliveries to other consumers.. _ do...
Stocks, industrial and retail dealers', end of period,total ..thous. sh. tons
Electric power utilities ...doMfg. and mining industries, total do
Oven-coke plants do
Retail dealers _ __ .do
Export?.- doPrices, wholesale:
Screenings, indust. use, f.o.b. mine$ per sh. ton_.
Domestic, large sizes, f.o.b. mine. do
COKEProduction:
Beehive _ _ thous. sh. tons..Oven (byproduct). doPetroleum coke §_ . do
Stocks, end of period:Oven-coke plants, total _ _ __ do
At furnace plants. _ _ _ doAt merchant plants .... do._
Petroleum coke>_ doExports _ _ do
PETROLEUM AND PROE>UCTS
Crude petroleum:Oil wells completed numberPrice at wells (Oklahoma) $ per bblRuns to stills. mil. bblRefinery operating ratio % of capacity]
All oils, supply, demand, and stocks :New supply, totalcf .mil. bbl..
Production:Crude petroleum. doNatural-gas plant liquids ......do
Imports:Crude and unfinished oils .doRefined products do
Change in stocks, all oils (decrease,-) do
Demand, total doExports:
Crude petroleum doRefined products _ do
Domestic demand, total 9 doGasoline doKerosene do
Distillate fuel oiL doResidual fuel oil _ doJet fuel do
Lubricants... _ doAsphalt _ doLiquefied gases __._ do
Stocks, end of period, total doCrude petroleum doUnfinished oils, natural gasoline, etc.. ...doRefined products do
Refined petroleum products:Gasoline (incl. aviation):
Production do
Stocks, end of period _ _do._._
Prices (excl. aviation):Wholesale, ref. (Okla., group 3) _ $ per galRetail (regular grade, excl. taxes), 55 cities
(1st of following mo.) $ per galAviation gasoline:
Production.. _ _ . _ _ . _ mil. bbl..Exports.. doStocks, end of period do
Kerosene:Production doStocks, end of period _ doPrice, wholesale, bulk lots (N.Y. Harbor)
$ per gal..
4 517,158* 320,4604184,328
496,009
4 12,072
92, 27571, 295
(3)8,924
(3)
70,908
7.6419.647
48714 65, 6544 21, 574
4,1134,018
951.0592,514
2 13, 0203.23
3, 967. 5490
4 5,377.7
4 3,517.4612.2
522.64 725. 5
37.7
4 5,332.2
5.0489.5
4 5,237.74 2,131.3
96.0
927. 2804. 3
4353.0
49.7153.5
4 446. 8
1, 017. 9276.4106.0635.5
2,105.31.4
214.3
.119
.246
19.7.9
5.1
95.727.8
. 118
2494,8732326,2802 157,0352 82, 8202 11, 351
94.02176, 98716. 7597,199
275
56,633
9.69611. 209
273056, 66421, 823
3,5103,385
1251,4891,509
11,8043.41
4,087.886
5,532. 7
3,478.22623.9
658.6758. 7
26.1
5,497. 2
.581.2
5,415. 52, 213. 2
90.9
971.3837.9366.6
49.4158.5
2 456. 8
1,043.9259.6106. 8677. 5
2, 202. 61.6
223.8
.120
.252
18.51.24.4
87.524.4
.126
38,55827, 78310, 0795,164
670
(3)91, 722
(3)10,369
(3)
7, 107
9.71910. 890
553,4551,950
3 818r 3, 702
'1161,539
175
8863.41
352.487
465.2
293.852.7
63.453.7
29.7
435.4
06.7
428.7197.0
4.5
56.155. 732.0
4.321.933.5
,065.7272.4107.0686.3
196.6.1
208.4
.120
.264
1,9.1
4.1
6.128.0
.127
38,31327, 05110, 2815,817
950
(3)97,457
(3)11, 818
(3)
6,766
9.71910. 890
543,9761,787
4, 0703,939
1311,900
136
9593.41
334.085
447.6
276. 050.9
61.457.5
17.8
429.2
.15.7
423.4183.6
5.9
61.262.230.3
3.619.335.0
, 083. 5269.8105.9707.8
186. 1.3
212. 3
.120
.266
2.1.2
4.4
5.627.8
.127
36, 37925, 1679,9715,699
1,224
(3)86,360
(3)7,988
(3)
3,450
9.71910. 940
383,9611,853
4,1434,000
1431,793
92
9213.41
345.585
460.7
286.052.8
64.056.3
13.9
443. 9
0)5.9
438.0188.6
6.8
65.659.832.2
4.517.239.4
,097.4265.9109.8721.7
188.20)
212.9
.118
.244
1.60)4.4
7.228.2
.127
36, 41725, 9449,1504,679
1,315
(3>74, 946
(3)5, 381
(3)
1,318
9.71910. 940
323,2201,783
3,5963,483
1131,584
36
9673.41
333.685
455.6
276.051.2
63.463.8
-22.2
476.3
08.1
468.2184.6
8.5
85.477.230.5
3.812.244.2
1,075.2265. 6110.3699.4
183. 1.1
213.6
.118
.257
1.5.1
4.6
7.126.8
.127
40,83228, 29411,0876,152
1,443
94, 02176,98716, 7597,199
275
4,204
10. 13111. 388
564,2001,853
3,5103,385
1251,489
42
1,3303.41
351.586
497.4
284.056.1
71.384.1
-31.3
525. 2
06.6
518. 6189.311.3
113.687.?32.3
3.96.4
51.8
, 043. 9259.6106.8677.5
196.9.1
223.8
.118
.251
1.1.1
4.4
8.924.4
.127
44, 39930,07412, 5726,872
1,753
92, 90875,78816, 7307,850
390
3,660
10. 26611.446
494,7631,898
3,5853,446
1391,610
68
8073.41
353.185
483.3
282.652.9
68.977.1
-30.0
512.5
05.2
507. 3173.211.8
115.487.331.6
3.85.7
53.7
,013.9251.0109.2653.8
192.6.1
244.6
.118
. 255
1.6.1
4.7
8.721.3
.127
43,55828, 73213,4906, 775
1,336
93, 35675, 81317, 1688,118
375
3,631
10. 26611.446
534,6511,883
3,6113,466
1461,760
63
9653.41
329.485
461.2
269.950.8
64.574.2
-49.8
512.8
04.7
508. 1166.910.7
120.892.033.1
4.16.1
50.4
964.1252.9105.6605.5
175.2.1
254.8
.115
.233
1.20)4.6
6.817.4
.127
44,22428, 26114,9677,458
995
97, 85578.98018, 5458,560
330
4,624
10. 26611.446
515,0761, 912
3,3233, 139
1841,601
77
1,2103.41
351.885
498. 0
294.355.2
67.379.0
-21.8
519.9
09.0
510.9200.4
8.8
107.883.231.2
4.67.5
43.5
942,,3258. 9109.8573.6
184. 9.1
241.2
.115
.238
1.2.1
4.0
7.115.7
.127
40, 79625, 90814,3377,423
540
103, 70283,68919,7039,343
310
4,915
10. 14611. 120
555,0911,770
3,1112,900
2U1,549
95
9233.41
335.684
468.2
285.753.4
63.763.6
4.3
462.2
.27.2
454.9190. 0
5.3
83.373.329.6
4.610.135.0
946.6266.6113.6566.4
176.8.1
229.5
.120
.228
1,40)4.0
6.916.4
.127
40,99526,64813,8977,639
430
110,59790,49319,76410, 014
340
5,416
10. 14611.120
515,2361,813
3,0222,795
2271,537
151
9203.41
355.986
487. 9
298.4; 54.1
69.563.2
37.8
454.2
06.2
448.1201.2
4.4
69.865.431.0
4.515.730.5
984.4279. 5116. 3588.6
188.6.1
219.2
.120
.236
1.50)4.1
5.217.1
.127
4,882
10. 14611. 120
534,9761,821
2,9072,643
2631,589
107
1,0423.41
355.389
474.0
287.652.4
' 65. 666.0
7.2
464.6
06.3
« 458. 3206.1
3.5
65.865.934.9
4.319.233.1
991.6271.4120.4599. 8
189.1.1
204.3
.120
.240
1.4.1
3.9
5.018.6
.127
3,627
10. 14611. 120
495,0241,884
3,0892,748
3401,661
76
8333.41
368.589
484.5
294.154.1
71.062.7
31.8
454. 8
06.4
448.4208.3
2.9
54. 865.431.0
4.820. 034.4
,023.4265.8116.0641.6
206. 7.1
204.7
.120
.235
1.3.1
3.7
5.721.5
.127
6,337
10, 14611. 120
545,088
3,1852,831
355
74
9463.51
.120
.261
.127
10.42611.120
3.51
.120
.254
.127' Revised. « Corrected.
an 50 thousand barrels. 2 Reflects revisions not available by months.1 Corresponding monthly revisions will be shown later.
-3 Not available.cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not
shown separately.9 Includes data not shown seperately. § Includes nonmarketable catalyst coke.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-36 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— ContinuedDistillate fuel oil:
Production mil. bblImports doExports doStocks end of period doPrice, wholesale (N.Y. Harbor, No. 2 fuel)
$ per gal.-Residual fuel oil:
Production mil. hhlImports doExports doStocks end of period doPrice, wholesale (Okla., No. 6) __$ per bbl..
Jet fuel:Production mil. bblStocks end of period do
Lubricants:Production _ _ _ _ _ _ _ _ d o _Exports doStocks end of period doPrice, wholesale, bright stock (midcontinent,
f o b Tulsa) $ per gal
Asphalt:Production mil bblStocks end of period do
Liquefied gases (incl. ethane and ethylene):Production total mil bbl
At gas processing plants (L P G ) doAt refineries (L R G ) do
Asphalt and tar products, shipments:Asphalt roofing total thous souares
Roll roofing and cap sheet doShingles all types ^ do
Asphalt siding doInsulated siding doSaturated felts thous sh tons
897. 153.8
9195 3
.108
257.5557 819.854 02.25
301.927 6
66.216.114 7
270
146.715 8
525 6399 6126 0
f\7 n
83 17934 75648 423
260334848
912 155 82 8
190 6
.116
274 7577 513 259 72.37
304 727 7
65 515 815 0
270
157 021.2
547 9417 6130 294 7
93 36535 68457 682
189374899
77 92 *
3197 0
.117
19 239 71.4
65 92.35
24 927 7
5.61 6
14.8
270
17 420.2
47.135 311 8
104 0
8 9283 3485 580
153576
71 33 0
I210 1
.117
19 743 5
966 52.35
25 028 1
6 21 3
15 0
270
16 218 1
44 434 310 1
•JAQ I
9 5833 7675 816
143280
74 83 7
1293 o
.117
19 742 6
968 52.35
26 327 2
6.61 1
14.9
270
15 016.5
46 2?5 810 4
109 4
9 0513 5005 551
123681
72 25 1
2214 8
.117
22 347 11 2
59 92.35
26 127 9
5 11 3
14 9
270
12 817 6
45 035 110 0
103 6
7 6722 9864 686
133371
78 411 0
1190 6
.117
27 659 5
559 72.35
25 827 7
5 21 2
15 0
270
9 821.2
50 038 811 194 7
6 7662' 7723 994
152973
78 86 1
1160 1
.117
28 658 7
559 42.35
24 325 9
5. 51 4
15.3
8.224.1
47.236 710.582 4
(3)(3)(3)
(3)(3)(3)
77 Q5 9
1122 2
.117
27 955 8
550 92.35
26 125 2
4.91 0
15.1
8 126.6
45.735 310 471 9
79 g7 g
1101 8
.117
25 759.71.8
51 62.35
28 127.1
5.41.5
14.4
10.029,2
49.037.911.272 7
74 45 7
298 3
.117
22.250 31.5
49 42.35
26 327 6
5.21.3
13.7
11.431.0
47.436.510.879 9
80 34 1.1
112 9
.117
20 648.8
.653 02.35
27.528.9
6.71.1
13.7
.270
14.931.0
48.136.811.392 7
78 82 9
1128 8
.117
19 849 5
656 12.35
25 828 4
5.61.1
13.9
.270
16.028.6
46.135.210.8
101 2
78 53.1.1
155.6
.117
20.949.41.1
60.22.35
27.129.4
5.41.1
13.4
17.126.4
48.036.411.5
109 8
.117
2.35
.117
.235
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulpwood:Receipts thous cords (128 cu ft )Consumption doStocks, end of period do
Waste paper:
Stocks, end of period ' do
WOODPULPProduction:
Sulfate doSulfite.. _ _ _ ___ do
Groundwood doDefibrated or exploded... doSoda, semichem., screenings, etc ___do
Stocks, end of period:Total, all mills do
Pulp mills doPaper and board mills.. doNonpaper mills do
Exports, all grades, total doDissolving and special alpha.. __ doAll other. _ do
Imports, all grades, total doDissolving and special alpha d o _ _ _ _All other do
PAPER AND PAPER PRODUCTS
Paper and board:Production (Bu. of the Census):
Paper doPaper board doWet-machine board do
Wholesale price indexes: ;Book paper, A grade... 1967=100..Paperboard _ , _ doBuilding paper and board __do
'68 86367 5626 594
in fiQ4.571
1 7OK
29,4722,344
4,4042,1053,515
91737847069
3, 755869
2 886
i 3, 538273
13 265
23 40925*465
139
109.5101.1101.2
67 22067 5016 215
in QQ7696
1 fi7129, 6512,101
4,4622,4053,743
1, 12457347971
i 2, 175790
1 1 385
! 3, 515313
i 3 202
23 83826 120
138
110.6102.4103.0
5 4735,4455, 184
885482
3 O(")K
1382,483
174
386292331
1,07360938777
16259
103
29628
269
A 'R77
1 9732 256
9AA(\
109.2102.8104.3
6 5035,1855,460
883506
o eno
127
2,313161
432240322
1,04458238578
24095
145
27522
254
A Kfifi
1 9272 137
12.JOft
109.2102.8104.5
5,6215,6715,423
939499
4 072145
2,617191
483278358
1,00363728878
11248
161
26227
289
4 9872 1782,341
11457
109.2102.9104.6
5 2385,4345,207
861499
3 808140
2,446173
467236346
1,154697381
76
1425289
30715
322
4 6322 0162,190
10417
109.2102.9104.7
5,2295,0846,215
828696
q 4.QQ
1382,219
159
423240320
1,12457347971
23576
159
29825
274
4 3591 9222,026
10401
109.2102.7104.6
5,2545,6634,909
874522
3 866149
2,544162
440270302
1,07763237965
18573
112
30915
294
4 7692,0872,288
10384
109.2102.7104.7
5,2965,4224,819
901498
q 7fiK
1402,494
164
419
306
1,02658937463
17161
110
30030
270
A 7*1
2 0512,280
11409
109,2103.5104.7
5,8155,7904,797
974506
3 778'l51
2,695189
398(3)345
1,00354439367
17159
113
34024
316
5 2222,2302,519
12460
109.2103.6105.6
5,4495,6554,578
914504
3 893'l47
2,5941 Q1181
379
339
984548362
75
18466
119
32526
300
4 8282,0552,320
11442
108.5105. 6106.1
5,4575,7324,305
989526
4 013'l35
2,688189
393
350
954492385
78
21768
150
29024
266
5 2032,1942,548
12449
108.5105.8106.6
6,0426,0795,504
r 967••538
3 942142
2,6651QO182
380
332
'943477
••392r74
17662
114
30916
293
r 5 023' 2, 127'2,436
'12' 448
108.5106.0106.6
5,7065,7425,481
r 840'547
r 3 7Q6126
' 2, 569152
359236325
'907432
••402'73
18669
116
2716
265
' 4 613' 1 926r 2 255
11' 421
108.8106.0106.8
6,0315,9275,651
963568
3 991138
2,685•ton
390OKft
337
91043040674
17567
108
31021
331
5 2032,1982,522
11472
108.8106.0107.2
108.8106.5107.3
r Revised.1 Reported annual total; revisions not allocated to the months.
2 Less than 50 thousand barrels,s Series discontinued.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1»72 SURVEY OF CURRENT BUSINESS S-37
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Selected types of paper (API):Oroundwood paper, uncoated:
Orders new - thous. sh. tonsOrders unfilled end of period doShipments do
Coated paper:Orders new - .. doOrders unfilled end of period doShipments do
Book paper, uncoated:Orders new - - __do -Shipments do
Writing and related papers:Orders new _.do__Shipments do
Unbleached kraft packaging and industrial con-verting papers:
Orders new doOrders unfilled end of period. . _ doShipments -- _ _ _ d o _ . .
Tissue paper production do
Newsprint:Canada:
Production - - doShipments from mills doStocks at mills end of period do
United States:Production doShipments from mills _ _ doStocks at mills end of period do
C on sum ption by publishers d* doStocks at and in transit to publishers, end of
period thous. sh. tons
Imports doPrice, rolls, contract, f.o.b. mill, freight allowed
or delivered _ _ _ _ __$persh . ton
Paperboard (American Paper Institute):Orders, new (weekly avg.) -thous. sh. tons_.Orders, unfilled § _ _ _ _ doProduction, total (weekly avg.) do.__.
Paper products:Shipping containers, corrugated and solid fiber,
shipments mil sq ft surf area
Folding paper boxes thous. sh. tonsmil$
1,24590
1,240
3, 163183
3,260
2,3962,476
2,8692,873
3, 714111
3,7553,671
8,6078,592
236
3,3103,303
33
7,130
749
6,635
150. 50
349742489
185 864
2, 490. 01, 225. 0
1,21680
1 220
3,255287
3 250
2,6432 550
2,9362 945
3 868156
3,7553 765
8,2978 210
323
3 2963,288
41
7,057
705
6,881
157.00
474917501
191 832
2 445.01, 250. 0
96118107
274300279
214219
265255
328152303309
678697375
27927798
558
699
547
158. 10
5311, 039
516
16 412
204.4105.9
97115100
257287270
217203
*237247
319169314300
692680387
25426785
580
685
608
158. 10
5001 000
494
17 144
208.4109. 5
115117112
289289285
229220
244253
339170326348
786760413
28928094
653
682
607
158. 10
5361,003
528
17 280
208.8109.5
9688
113
275279285
209210
210235
349171336327
758762409
28530276
643
704
610
158. 10
5321 003
517
16 653
204 9105.0
10080
114
257287277
212208
238236
307156327308
698784323
25729241
629
705
635
158. 10
474917461
15 866
216.1109.5
10981
100
289249279
220221
250251
348168326327
725604445
28927753
570
711
591
159. 70
521976504
15 453
204.1105.6
ino81
109
281000
272
217211
254247
323171322315
663619489
27826666
571
699
504
161 70
5601 010
539
16 302
194 2101 1
11492
103
306261303
261241
290280
357175346341
685673501
29028868
642
664
550
163.70
5831 087
559
18 358
217.9113.5
10690
101
270248271
236232
256257
317157314330
723727498
28327576
638
647
590
163 70
5741,199
552
16 579
202.0104.8
126106113
276264276
251238
287276
356179335336
735725508
303305
74
663
617
609
163. 70
5961 280
573
17 676
211.3109.8
10896
112
288301261
235232
269271
339189326330
733753488
28328770
613
610
611
163. 70
5901,332
562
18939
213.7112.1
10899
105
272305255
224216
221247
315172324314
699711475
27527372
583
618
625
163. 70
5191,399
520
15, 427
179.993.2
734721489
29429868
605
627
553
163. 70
5561,397
563
15 858
163. 70
5431,420
533
21,482
RUBBER AND RUBBER PRODUCTS
RUBBER
Natural rubber:Consumption thous Ig tonsStocks, end of period doImports, incl. latex and guayule do
Price, wholesale, smoked sheets (N .¥.)„$ per lb_.
Synthetic rubber:Production.. thous. Ig. tonsConsumption _ doStocks, end of period.-- - . _ do
Exports (Bu. of Census) do
Reclaimed rubber:Production doConsumption . doStocks, end of period. _ do
TIRES AND TUBES
Pneumatic casings, automotive:Production - . thous
Shipments, total doOriginal equipment __ __ doReplacement equipment . doExports . do
Stocks, end of period.. doExports (Bu. of Census) do.
Inner tubes, automotive:Production. doShipments doStocks, end of period doExports (Bu. of Census) do
559 32102 60549. 92
.218
2.197.001,917.85
514. 78
290.06
200. 56199. 5727.58
190 403
194, 54146, 135
146,5081 898
50, 1751,531
35 68741 0059 7181,002
577 81133 32612. 72
.180
2,241.00210487
488. 17
269. 82
199. 19200 4722.67
213 110
211 21755 860
153, 4051 952
' 50 4011 589
35 56240 4768*271
979
48 841256169.57
.180
186 98176 68483.90
29.41
15 3216 6525.44
r 17 640
r 17 804'4 348T 13 274
183
'50,401113
2 7923 2788 242
46
51 38131 35
54.25
.179
187 02186 07468. 25
35.01
16 3717 0223. 51
18 889
20 2805 138
15 008133
49 245122
3 2103 7468 003
81
51 82124 9244. 68
.176
193 81190 33462. 10
14. 22
16 8817 8221.85
19 113
18 5035*170
13 24886
49 927108
3 1123 6397 891
59
47 71126 36
42.07
.173
194 90173 3448028
9 76
15 8115 2822 50
17 134
16 3924 936
11 345'ill
50 82492
2 8473*092s'no
79
47 99133 3256.40
.171
196 14178 65488 17
15 51
15 8816 0222 67
17 589
13 8144*3189 315
180
54992*113
2 8633 0358 271
99
55 31128 0157 89
.180
199 99182 77487 44
26 84
15 7616 4221 00
19 074
15 0915 0389 849
*203
59 394129
3 3903 6078 627
101
52 66128 0351 72
.178
192 96187 33478 73
26 72
17 0216 9121 38
19 143
16 0625 245
10 644173
62 705136
3 4773 5328 877
79
59 12133 2263*95
.170
210 13201 96480 11
20 02
19 2417 9621 98
20 597
20 3176*019
14 130167
63 255160
3 7494 0419 056
74
51 91129 7147.62
.165
208 74190 30492 71
16 75
17 7816 0422 60
19 009
21 6685 601
15 905162
60 918150
3 3393*5079 262
82
54 06117 0449.79
.169
210 74197 53491 34
19.99
18 5416 49
26 25
19 725
21 2155 957
15 092166
59 753167
3 4963 5449 494
61
••53 23r 109. 09
36.43
.173
'191.01r 198. 24'485.04
18.14
16.99r 15. 87' 23. 13
'20 270
21, 277' 5, ?4915, 685
243
'58,836215
'3 3673 697
'9 81368
41 05103. 7138. 67
.175
195. 51152. 54518. 88
20.06
11. 5111 7821.87
14 765
16 2092,946
13, 073191
57, 836180
2 4412 9869,481
36
50. 65
.175
22. 10
18 608
19, 6284,685
14, 781162
56, 894225
3 2823 6159,482
65
.180
' Kevised. » Preliminary.cfAs reported by publishers accounting for about 75 percent of total newsprint consumption.
§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of themonth; annual data are as of Dec. 31.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-38 SURVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Shipments, finished cement . thous. bbl
CLAY CONSTRUCTION PRODUCTS
Shipments:Brick, unglazed (common and face)
mil. standard brickStructural tile, except facing thous. sh. tonsSewer pipe and fittings vitrified doFacing tile (hollow) , glazed and unglazed
mil. brick equivalentFloor and walltile and accessories, glazed and un-
glazed mil sq. ftPrice index I brick (common), f.o.b. plant or
N.Y. dock. 1967=100..
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments thous $
Sheet (window) glass, shipments _do___ .Plate and other flat glass, shipments _do
Glass containers:Production .__ _ thous. gross
Shipments, domestic, total doNarrow-neck containers:
Food doBeverage doBeer doLiquor and wine do
Wide-mouth containers:Food (incl. packer's tumblers, jelly glasses,
and fruit jars) thous. grossDairy products do
Narrow-neck and Wide-mouth containers:Medicinal and toilet doHousehold and industrial do
Stocks, end of period do
GYPSUM AND PRODUCTS (QTRLY)
Production:Crude gypsum _ _ thous. sh. tonsCalcined. _ _ _ do
Imports, crude gypsum do___ .
Bales of gypsum products:Uncalcined doCalcined:
Indusrtial plasters. _ doBuilding plasters:
Regular basecoat doAll other (incl. Keene's cement) do
Board products, totalG _. mil. sq. ftLath doVeneer base .. doGypsum sheathing doRegular gypsum board doType X gypsum board. .. doPredecorated wallboard . do
1390 461
6 496 0181 0
1 622 3
173 0
250 4
112. 2
384790
131, 551253,239
1268,959
1266,031
1248781 69, 854
52,626121 142
58 632379
34, 2521 4, 268
37 091
9 4628,654
6,128
4, 219
265
408588
9,742
1429 239
7 569 7157 0
1 720 6
155 4
276 1
117.4
464 674
150 344314 330
263 780
255 261
24 31067 55253 18921 146
57 208305
27 6453 906
35 652
10 43710 224
6 262
*4 305
268
382535
* 11 946477292272
9 0151 766
122
45 136
741 713 3
173 4
13 9
25 2
118.4
25 176
28 931
3 3017 0265 9372 241
7 03029
2 907460
34 401
42 617
733 912 4
155 1
12 7
24 3
118.4
119 950
40, 77379 177
21 993
21 322
2 6325*2114 0531 800
4 99927
2 293307
34 523
2 8162*798
1 806
1 216
67
98149
3 2851268576
2 48447935
40 ncn
790 911 9
14R *\
13 0
24 3
118.4
23 544
19 949
1 6704 7533*6241 867
5 21926
2 478*312
37 600
OC QKA
651 611 1
•MO fl
12 2
23 8
118.4
19986
19 186
1 6055 1303 4551 856
4 47630
2 324310
38 403
26 212
fifil 0
9 9113 9
11 1
22 2
118.4
129 930
41 03688 894
18359
20633
1 5726 0743 9181 896
4 70424
2 169*276
35 652
2 7882 723
1,565
1 101
69
88128
3 1901187670
2 41547833
22 399
507 29* 2
109 9
9 2
22 7
118.3
20, 731
19, 160
1,8694,7893,4331,748
4,60023
2 391307
36, 229
23 910
545 410 3
109 1
8 9
23 6
121.2
21, 533
20,185
2 1505 2383,5221 664
4 66817
2,547379
37 593
32 229
742 19 4
14.4. 1
10 8
28 1
121.4
131 969
40 82191 148
23 239
26 081
2 4697 1784 9232 111
5 873' 22
3 066439
34 666
2,7192,854
1,639
863
70
86122
3,3491187977
2,51252539
34 612
701 38 0
144 0
10 5
25 0
122.0
21 903
19288
1 8375 1194,5511 679
3 79912
1,982309
37 141
42 234
808 310 6
160 4
12.0
27 7
122.1
23,350
23,650
2,0916,9995,0161,961
4,80321
2,419340
36,487
45 043
'784 6••11.0
r 1(J2 4
'13.2
28 4
122.1
133 248
40, 23593, 013
24, 704
24, 420
2,0216,9045,7312 021
4 87019
2 492362
36 377
3 1492,996
1,905
MOI86
91126
3, 5841149093
2,66857148
42, 335
732. 78.4
156 9
11.0
24.6
122.1
'23, 082
'21,518
1,8506,2945,070
'1 460
4 56911
1,963301
r37 406
50, 447
122.1
25,071
25,355
2,7776,8595,2661,862
5,50523
2,670393
36, 654
122.1
TEXTILE PRODUCTS
WOVEN FABRICS
Woven fabrics (gray goods), weaving mills:Production total 9 mil linear yd
Cotton doManmade fiber _ _ do
Stocks, total, end of period 9 d" doCotton.. _ " doManmade fiber „ _ do
Orders, unfilled, total, end of period 9 f doCotton doManmade fiber do
COTTON
Cotton (excluding linters):Production:
GinningsA - thous. running balesCrop estimate, 480-pound bales, net weight
thou s balesConsumption doStocks in the United States/total, end of" period
thous balesDomestic cotton, total do"
On farms and in transit doPublic storage and compresses " "doConsuming establishments do
Foreign cotton, total.. do
11 5456 3954 991
1 471592867
2 4341 525
866
10, 112
10 1927 878
11 90011 8861 4829,2571,147
14
11 1176 2814*735
1 094482604
2 7171 5231 168
10 229
10 4778 128-
10 18510 1662 3896, 5471,230
19
848474367
1 208517679
2 5991 5071 068
365
637
14 27614 26111 0521,7071,502
IB
2 1 0522 5982 457
1 202521668
2 4251 3951 007
879
2 771
13 16513 14410 4031,4881,253
21
892503383
1 141507624
2 3931*3521* 018
4 604
633
12 16212 1467 1233,9571,066
16
882493383
1 095480605
2 5521 4461 081
7 895
642
11 24711 2323 7476,4621,023
15
21 0092 5542 438
1 094482604
2 7171 5231 168
3 8, 186
2 727
10, 18510, 1662 3896,5471,230
19
905504394
1 096491596
2 8841 6081 252
4 9, 723
632
9 0889 0641 3996*3151,350
24
920508405
1 104496599
3 0701 7601 282
649
7,6427,614
8785,1401,596
28
2 1 1422 6322 502
1 085485591
3 1831,8151,339
« 10, 229
5 10, 4772 808
6,4746,448
6024,0471,799
26
899494397
1 055480
3,2261,7591, 437
620
5,5555, 526
3773,2531,896
29
923500414
1 045463573
3 4051 9241,450
627
4,5974,573
1612,5721,840
24
2 1 1372 6152 512
1 063465589
3 4231,9021,490
2 772
3 8083,785
1191,9971,669
23
693346340
1 052474570
3 4071 8481 527
40
493
3 3043,280
1501,6071,523
24
521
••587
16,05016,03013, 338' 1,472'1,220
20
.'
1,826
6 13, 6702716
2,02299319
r Revised. •* Reported annual total; revisions not allocated to the months or quarter.2 Data cover 5 weeks; other months, 4 weeks. 3. Ginnings to Dec. 13. * Ginnings to
Jan. 16. s crop for the year 1971. o Oct. 1 estimate of 1972 crop. GData for totalboard products are available back to 1947; however, no comparable data prior to 1971 areavailable for the components.
9 Includes data not shown separately.
cf Stocks (owned by weaving mills and billed and held for others) exclude bedsheeting,toweling, and blanketing, and billed and held stocks of denims.
IT Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; productionand stocks exclude figures for such finished fabrics. Orders also exclude bedsheeting, toweling,and blanketing.
ATotal ginnings to end of month indicated, except as noted.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
October 1972 SURVEY OF CUREENT BUSINESS S-39
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 j 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
TEXTILE PRODUCTS—ContinuedCOTTON-Continued
Cotton (excluding llnters)— ContinuedExports.. thous. bales..Imports .. . do
Price (farm), American upland©. .cents per lb.-_Price, middling 1", avg. 12 markets© .. do
COTTON MANUFACTURESSpindle activity (cotton system spindles) :
Active spindles, last working day, total. ---mil--Consuming 100 percent cotton. do _ _
Spindle hours operated, all fibers, total-— .-_bil._Average per working day do
Consuming 100 percent cotton do... _
Cotton yarn, price, 36/2, combed, knit $ per lb..Cotton cloth:
Cotton broadwoven goods over 12" in width:Production (qtrly.) mil. lin. yd--
Orders, unfilled, end of period, as compared withavg. weekly production No. weeks' prod..
Inventories, end of period, as compared withavg. weekly production -No. weeks* prod-
Ratio of stocks to unfilled orders (at cottonmills), end of period f . ._.- . _ • - • .
Exports, raw cotton equiv thous. bales..Imports, raw cotton equiv do
Mill margins:Carded yarn cloth average cents perlb—
Prices, wholesale:Print c^nth 38Mrinch, 64 x 54 cents per yardSheetfog, class B, 40-inch, 48 x 44-48.. .do.—
MANMADE FIBERS AND MANUFACTURESFiber production, qtrly. total mil. lb_.
Filament yarn (rayon and acetate) doStaple, incl. tow (ravon). . doNoncellulosic, except textile glass:
Yarn and monofilaments doStaple, incl. tow... do
Textile glass fiber.. do
Exports: Yarns and monofllaments thous. lb_.Staple, tow, and tops.. __do
Imports: Yarns and monofilaments doStaple, tow, and tops do
Stocks, producers', end of period:Filament yarn (rayon and acetate).. mil. lb._Staple, incl. tow (rayon). ._ doNoncellulosic fiber, except textile glass:
Yarn and monofilaments do____Staple, incl. tow - do
Textile glass fiber do
Prices, manmade fibers, f.o.b. producing plant:Staple: Polyester, 1.5 denier $ per lb..Yarn: Rayon (viscose), 150 denier ..do
Acrylic (spun) , knitting, 2/20, 3-6D . . do
Manmade fiber and silk broadwoven fabrics:Production (qtrly.), total 9 mil. lin. yd..
Filament yarn (100%) fabrics?- -.-doChiefly rayon and/or acetate fabrics doChiefly nylon fabrics _._.do
Spun yarn (100%) fab., exc. blanketing 9.. doRayon and/or acetate fabrics and blends
do.
Filament and spun yarn fabrics (combinationsand mixtures) mil. lin. yd...
WOOLWool consumption, mill (clean basis) :
Carpet class _ doWool imports, clean yield.. do....
Wool prices, raw, clean basis, Boston:Good French combing and staple:
Graded territory, fine- .._$ perlb—Graded fleece, % blood do.
Australian, 64s, warp and half-warp. do
WOOL MANUFACTURESKnitting yarn, worsted, 2/20s-50s/56s, American
system, wholesale price 1967=100Wool broadwoven goods, exc. felts:
Price (wholesale), suiting, flannel, men's andboys', f.o.b. mill. ___1967=100._
2,98237
121.9>23.6
18.611.6
113.0435
70.4
1.008
6,246
15.4
5.5
.36
274.3543.3
43.57
5,391.7730.8607.4
1,793.41, 792.8
467.3
148,843152,871
137,054140,075
75.076.0
288.3242.6103.8
.614 931.39
5,028.21,461.4
639. 7271.4
2,871.6
444.81, 962. 8
472.6
1fi3 776.6
153.179 q
1.024.872.941
101.4
170 «
10L3
« 4, 12838
«28.5«30.0
18.411 4
113.8438
70.3
1.061
6,147
16.9
4.5
27
312.6569. 5
M5.10
15 822.2
6,125.4752.7611.7
2,187.92.104.9
468.2
130,511181,612
249,819175,306
65.240.7
297.6252.989.7
.61
1.26
4,885.61,433.1
521. 1296.1
2,773. 9
381.81,998. 5
450. 5
116 274.8
126.6QO q
.664
.656
.802
94.4
113 3
1623
27.026.8
18.411 48.94435.5
1.078
14.4
4.7
.33
28.152.2
M5.64
16.4
10,51818,236
19, 44916,216
.62
1.25
0 A
6.617.0•10 A
.595
.640
.795
93.3
3105
27.027.3
18.411 4
310.8433
26.7
1.082
1,405
13.4
4.5
.33
36.376.2
45. 32
16.421.8
1,574.3181.9154. 9
580.3531.0126.2
10,89625, 155
23, 98220, 601
70.341.4
263.1246.684.1
.62
1.24
1,147.8343.0125.571.5
639.0
83.3>ifto o
109.3
2 in 727.513.38 4
.610
.640
.795
92.0
22 7
195o27.627.7
18.511 49.14565.6
1.082
12.5
4.3
.34
13.027.3
44.82
16 421.8
5,6096,967
18,22015,702
.62
1.21
O 0
7.05.30 Q
.610
.621
.780
91.1
272(3)
28.728.0
18.411 49.04505.5
1.082
14.3
4.2
.30
23.721.2
44.81
16 422.0
5,4907,505
8,8784,048
.62
1.21
7 76.41.0
g
.605
.593
.805
91.1
4174
29.130.1
18.411 4
210.2407
26.2
1.088
1,527
16.9
4.5
27
45.385.7
44.89
17.523.0
1,637.4178.8168.2
609.2653. 8127.4
9,18612, 446
22,3299,399
65.240.7
297.6252.989.7
.621.031.19
1,275.2388.3130.973.4
701.7
88.7
126.5
2 9 827.210.79 9
.615
.525
.839
88.3
21 1
33715
30.232.9
18.311 29.1AM
5.5
1.096
16 1
4 3
26
33 975.0
44.90
17 523.3
9 85114,441
20 3028 738
.621 no
1.19
9 57. 67.15 0
.625
.525
.890
89.2
40216
30.333.4
18.211 19.1A K7
5.5
1. 107
16 3
4 2
26
31 659 1
45.62
17 R
24 0
9 97116* 080
15 50813 808
.62
1 AK
1.18
10 47.2
10.59 0
.640
.5501.030
89.2
4375
27.833.8
18.311 0
211.54.fin
26.9
1. 107
1 511
17.1
4.1
24
37.758.5
46.26
18 024.0
1, 708. 9179.1179 0
608.7607.5134 6
9,50020, 279
20,38710 985
61 533 0
279 7267.686 2
.62
1 011.18
1,343.1421.3139.986.9
723.7
103.3508.0
137 2
2 14 627.6
7.25 4
.708
.5771.001
90.2
25.6
275Q
31.335.2
18.310 99.24.KQ
5.5
1.115
17.8
4 1
23
32.369.1
45.38
18 024.0
9 31113 177
13 17211 980
.621 ni1.20
11 86.1
11.88 1
.944
.6961.095
92.6
1634
32.335.6
18.310 99.3ARK
5.5
1.121
17.7
3.9
22
33. 855.6
47.29
18 324 0
9 55817 506
17 17313 952
.621 no
1.22
12 66.38.67 0
1.130.895
1.133
105.0
147g
32.034.3
18.410 9
211.5460
26.8
1.123
1 504
18.0
3.9
22
35.871.4
50.10
18 3
1 823 6170.1185 1
674 3653 4140 7
8 50117 312
18 35813 577
64 736 4
270 7279 978 0
.621 031.24
1,378.7430. 2126.596.6
761.6
106.6539.3
128 4
3 15 527.36.34 3
1.200.962
1.270
107.8
27.1
1105
31.033.0
18.310 87.49714.3
1.128
24. 8
6.6
23
29. 753.2
52.12
18 3
8,19417 ,351
21 ,48413 114
.62
1 031.24
r 9 0'4.2
9.98.0
1,2701.0251.230
108.2
594
31.031.1
* 18. 2r 10 7••8.9
r 444'5.1
1.121
18.6
4.0
22
34.267.9
53.81
18 3
10, 53315, 713
26, 27916 771
.62
1 031.24
12.65.8
10.77.8
1.2751.0251.289
111.5
24.426.8
18.210 5
210.9438
26.2
1.117
58.64
18 3
.62
1 041.24
1.3501.0421.500
113,4
r Revised. 1 Season average. 2 y0r 5 weeks; other months, 4 weeks. 3 Less than 500bales. 4 Average for 4 months, Sept.-Dec. « Revised total; revisions not distributedby months. fl Season average prior to Apr. 1972. 7 Beginning Aug. 1971, net weightbasis; 1971 average is for Aug.-Dee. ©Beginning Aug. 1971, prices are on 480-lb. net-weight
bale basis (for earlier months, on 500-lb. gross-weight bale basis); to compute comparableprices for earlier months, multiply farm price by 1.04167 and market price by 1.0438.
t (Effective with the Oct. 1972 SURVEY, series restated on an unadjusted basis.$ Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-40 SUEVEY OF CURRENT BUSINESS October 1972
Unless otherwise stated in footnotes below, datathrough 1970 and descriptive notes are as shownin the 1971 edition of BUSINESS STATISTICS
1970 | 1971
Annual
1971
Aug. Sept. Oct. Nov. Dec.
1972
Jan. Feb. Mar. Apr. May June July Aug. Sept.
TEXTILE PRODUCTS—ContinuedAPPAREL
HoMerv shipments v thous. doz. pairsMen's apparel , cuttings:!
Tailored garments:Suits thous. unitsGoats (separate) , dress and sport _ _ _ ._ doTrousers (separate) , dress and sport . . do
Shirts (woven), dress and sport. thous. doz...Women's, misses', juniors' apparel, cuttings::}:
Coats ._ _ thous. units__Dresses « doBlouses and shirts thous dozSkirts — ..do _ _
231 795
17 69411,750
173, 59920, 792
21, 769251, 54013 2506,927
210 872
16 23411, 503
179 73219, 741
17, 033240, 266
12 5905,494
18 698
1 4341 023
15,0801 618
1,60619,405
988481
18 810
1 4271*086
14 7211 772
1 66119, 7841 031'535
20 058
1 4631,' 232
14 6961 824
1,79520 8411 112'587
16 790
1 389l' 076
15 0871 722
1,71719 323
981421
14 834
1 3561, 067
13 4301 603
1,28916 327
786402
15 172
1 6071, 088
15 5031,770
1,34418 3861 106
509
15 932
1 558l', 198
14 8891,713
1,24523,8721 196
599
19 325
1 7031, 279
170301,820
1,146239811 355
590
18 594
1 5781,206
15, 2001,674
94323, 6501 315
516
17 764
1 6831,326
15 0501 717
1,28919 7291 237
447
20 964
r i 575r 1, 413'14 781rl 833
1,55322 6841 397
451
19 730
783710
11 9861 133
1,38215 8631 313
489
21 908
1 5811, 195
14 5801 547
1,73822, 9291 604
534
TRANSPORTATION EQUIPMENT
AEROSPACE VEHICLES
Orders, new (net), qtrly. total .mil. $ .U.S. Government do
Prime contract ...doSales (net), receipts, or billings, qtrly. total. -do. .
U.S. Government do
Backlog of orders, end of period 9 do____U.S. Government do
Aircraft (complete) and parts do _ _ .Engines (aircraft) and parts d o _ _ _ _Missiles, space vehicle systems, engines, propul-
sion units, and parts mil. $.Other related operations (conversions, modifica-
tions), products, services mil. $._
Aircraft (complete) :Shipments . . do
Airfi ame weight thous IbExports commercial mil $
MOTOR VEHICLES
Factory sales (from plants in U.S.), total thous..Domestic . . . . . do
Passenger cars, total do -.Domestic do
T nicks and buses, total ._ _ _ .do .Domestic do
Retail sales, new passenger cars :Total, not seasonally adjusted thous..
Domestics A dotmportsA - do
Total, seasonally adjusted at annual rates .. .mil ..DomesticsA doImports A— do
Retail inventories, new cars (domestics), end ofperiod: A
Not seasonally adjusted thous..Seasonally adjusted . ..do
Inventory-sales ratio, new cars (domestics) Aratio..
Exports (Bureau of the Census):Passen ger cars (new) , assembled thous . .
To Canada -- -- . - doTrucks and buses (new), assembled- . ..do
Imports (Bureau of the Census):Passenger cars (new), complete units do
Trucks and buses, complete units... doTruck trailers (complete), shipments number..
Vans doTrailer bodies and chassis (detachable), sold
separately number
Registrations (new vehicles):©Passenger cars thous. .
Imports, incl. domestically sponsored do...Trucks do
RAILROAD EQUIPMENT
Freight cars (all railroads and private car lines) :Shipments number.
Equipment manufacturers .do. _ .New orders _ do.__
Equipment manufacturers -_-___-_do ._-Unfilled orders, end of period. . _ _ _ do___
Equipment manufacturers d o _ _ _Freight cars (revenue), class 1 railroads (AAR):§
Number owned, end of period _ thous.Held for repairs, % of total owned
Capacity (carrying), aggregate, end of periodmil. tons.
21, 16115, 11619, 01024,75216, 407
24,70512,88213,2642,449
4, 522
2,791
3,605.059,436
1,527.2
8,239.37, 753. 06, 546. 86, 187. 31,692.41, 565. 7
8,4057, 1191,285
1,2201,294
. 2 . 4
285. 04245. 6293.87
2,013.42692.78
i 115. 82105, 70971, 274
26, 138
* 8,388.2« 1,231.0i sj 790 2
i 66, 185i 52, 411i 50, 293i 42, 530
27, 55222,320
1,4235.7
95.6467.19
21, 55315, 22919,02821, 67914, 114
24, 57913, 99711, 9992,281
4,780
3,274
2,972.948, 818
1, 906. 8
0,637.70,036.08,584.68, 121. 72,053.11,914.3
10,2528,6811,570
1,4471,590
2.1
386.64348.40100.04
2,587.48802. 28160. 87
103, 78465,785
18, 509
14 9,729.1i 4 1,465.7141,981.,
155,3071 47, 990152,482146,913
22, 22118, 753
1,4225.6
97.1468.29
119.12,125108. 4
639.9602.1484.8457.6155.1144.5
725566160
10.18.31.9
1, 5691,681
2.4
19.9718.746.67
205. 4549.647.83
8,4695,367
2,576
4780.64 145.44 166. 7
' 3, 255' 2, 778
1,2111,211
26,42922, 639
1,4285.7
96.9267.91
6,5425,0045,9484,8313,281
24, 39513, 52012, 5092,314
4,567
3,007
195.02,847122.8
951.1892.3757.8712.0193.3180.2
884756129
12.210.81.5
1,5911,691
1.9
37.9532. 869.98
227.0467.5313.329,6206,353
1,844
4 791. 04128.6* 153. 9
4,7014,1441,5341,534
23,11319,880
1,4275.7
97.0067.98
211.13,480126.3
988.3943.1793.5758.6194.8184.6
1,051934117
11.310.01.4
1,4811,660
2.0
29.7327.027.71
194.6572.3516.18
10,5987,315
1,483
4 922. 34 115. 94 183. i
4,8654,5697,4736,873
25, 86322, 426
1,4265.6
97.1568.13
247.83,822112.4
963.3917.0773.5736.6189.8180.4
962848114
10.99.41.5
1,4461,595
2.0
32.0429.397.53
215. 3077.8121.339,6526,483
1,833
4934.74103.74193.9
4,1594,0463,5183,418
25, 21321,789
1,4265.7
97. 2268. 19
5,4293,7824,5495,2463,305
24, 57913, 99711, 9992,281
4,780
3,274
258.14,687195.9
786.1745.0623.4593.2162.7151.8
74164992
9.38.01.3
1,4471,590
2.4
26.6222.448.50
229.0967.7825.66
10, 7217,260
1,878
4885.0498.2
4206.8
4,8074,5513,9333,633
22, 22118,753
1,4225.6
97.1468.29
214. 93,303144.8
889.1847.2698.0666.0191. 1181.2
721610111
10.38.81.5
1,5881,521
2.1
25.1122.137.37
215. 6459.3020.149,9477,039
2,147
4685.1491.4
4 165. 0
4,2113,9653,7802,320
21, 86517, 183
1,4225.8
97.3368.44
235.13,781142.7
954.3910.0748.3716.1206.1193.9
813698115
10.48.91.5
1,6841,566
2.1
28.2225.009.99
226. 7875.75
« 21. 9511,3097,770
2,207
* 680. 0497.1
4165.7
3,5673,3272,1252,025
19, 49014, 948
1,4415.7
98.8268.56
5,5683, 8205,0384,7732,895
23,95213,66111,3992,273
4,729
2,907
382.76,188298.1
1,038.3983.4806.5765.2231.8218. 3
913772141
10.38.71.6
1,7411,578
2.2
34.5631.5910.16
258. 7781.4421.7313,0789,035
2,835
4 828. 14 122. 54 203. 1
4,5804,3513,6623,462
18, 59214,079
1,4395.8
98.8268.68
219.53,285131.7
993.9939.7779.1736. 9214.8202.8
899774125
10.69.11.5
1,7821,628
2.2
36.7433. 899,81
216. 1582.5919.29
12, 1008,078
2, 763
4 817. 24117.0« 201. 9
4,4174,1352,7122,062
16,84711,966
1,4335.8
98.5668.78
344. 54,930189.4
1, 078. 31,019.5
842. 9798.0235.3221.5
1,030888143
11.09.51.5
1, 7811,606
2.0
41.3438.7611.00
258. 7083. 2525.14
12, 8748,538
2,782
3865.83121.33 220. 1
4,7313,9033,1832, 955
15,34411,063
1,4315.9
99.0769.24
«• 289. 7'4, 316
128.2
1, 024. 8968.4804. 2761.6220.6206.8
1,025877149
10.48.91.6
1,7511,540
2.1
35. 8534.119.99
209. 7089. 7226.34
'11,7457,362
2,069
3 916. 73 126. 43229.8
4,3513,7055,9234,543
16,93611,921
1,4265.9
98.3868.97
223.73,17685.6
531.7504. 5411.9393.6119.7110. 8
904769135
11.49.81.6
1,3931,373
1.7
19.5118.398.35
153.9547.3613.06
10, 1326,746
2,322
3 812. 63 116. 13 203. 3
2, 8462,2972,9322,711
17,02712,340
1,4266.0
98.4969.09
227.03,434111.2
551.9516.0398.5371.0153. 4145. 0
812656156
11.19.31.7
1,2631,488
1.9
19.5018.048.24
170. 3535.2322.09
11,6238,251
2,875
3 864. 83 144. 13201.3
3,?892,8225,1124,975
18, 75014,493
1,4246.2
98.5669. 19
2 949. 2
2 758. 5
2190.6
878741138
11.810.21.6
1,3001,503
1.8
1,4245.9
p Revised 1 Annual total includes revisions not distributed by months. 2 Estimateof production. 3 Omits data for three States. 4 omits data for two States. * Omitsdata for one State. 8 Effective Feb. 1972, imports include trucks valued less than $1,000 each.
{Monthly revisions (1970) appear in Census report, Apparel Survey, 1970, MA-23A(70)-1.$ Total includes backlog for nonrelated products and services and basic research.
ADomestics include U.S.-type cars produced in the United States and Canada; importscover foreign-type cars and captive imports, and exclude domestics produced in Canada.
©Courtesy of R. L. Polk & Co.; republication prohibited.§ Excludes railroad-owned private refrigerator cars and private line cars.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SECTIONSGenerals
Business indicators . , . , . . . »» . , , . ' , . . . ' . , , . . ; 1-7Commodity prices. , . . , . . , . . . ; . , , . . . . . 7-9Construction and real estate.,.-..,,'...,.,.,.'.,.. 9,10Domestic trade.., . , . . . . . . . .„.. . , „ 31,12
Labor force, employment, and earnings,...... 13-16Finance. 4,.,,.., .-. *,';......v.. .Y., 16-21Foreign trade of the United States............. 21-23Transportation and communications.......... 23,24
Industry: • " * • ' • ' , ' ' . " ' • " ' * -
Chemicals and allied products.,,.. 4 , , , . ; . ; . . . . 24,25Electric power and gas...................... 25,26Food and kindred products; tohaced.......... 26-30Leather and products.. *\-,, ? « , Y * . . . . . . , . . , , , , 30
Lumber and products. .. 4 . . . . , , . , i . . . . . . . . . . 31Metals and manufactures..... * « . , : . , . , ^ . . . . . . 31-34Petroleum, coal, and products. *.,....,,..... < 34~36Pulp, paper, and paper products..........:/.;;... 36,37
Rubber and rubber products... ,.Y,.. ;•; . . . . , 37Stone, clay, and glass products. , . . . . . . . , ; , . , 38Textile products. . . . . . . . ; . ._ , ' . ;; . . . . i , , . , - V . . 38r40Transportation equipment...,., * ' , . * , ; . . V . . . . 40
, Advertising. ;v> ;,,.,.» „* .,Y>..Y, '•„;,,».'.•;... 1,. > Y;.. -11,16 .Aerospace vehicles,., Y.';. Y. > Y,.,, ;« v. , Y « ' « » , , « ' « « • » ' » » » - " ,4,40' .Agricultural loans.;...;.'. *.'.;,...-,.I.;,.;.;.. ,,,;. Y- ; '•; 1$ '
" Air'carrier ;operations*, V. .* . , , ' . .'.'.,."> . • , , , ,„ , , ; . s. ' ,' -23 „ •Air conditioners (room)*,. .». . .> ....Y,-,,;,.Yv, >« ' . . * - 34Aircraft and parts.;,,".V.Y.-,.. ,".,r,Y,'»Y.x-.-,«-. < v'U!,6«7,'40
' . Alcohol, denatured "ajadl, ethyl*,•<,YV,«';, Y.,»<. w 1 *Y,,; v; 25
Aluminum, v * • . . - » » » ; « »'.'•«'..-..'. «Y. v-« ; . . ,+v.«. .*. •.; -. -.'.- - -• >." 33 ~': Apparel,,. ,,Y* *v, ,YY .-. .v. .-,,.Y,"Y;|,t,.4,8,:9,11-15,40 ;
, 'Asphaltand• tar products .-..-;,Y -.- ./*-*«Y,'.Y,Y. v-*'.;.;-.;.. '3$, 36,A«tomohiles,etp...t.rY 1,3-6,% 9,11,12,19,22,23,40
Balance of international paymentii;..:.;,. ,\ . . Y , » 2* 'Banking.....:.-r,Y*.. i - / ;« . '^ . , ;%. '.. *'. .s,:^^.,;.^.: 16*'17" -'^Barleyv ;•;.„- v..../....-; ;;Y; Y*Yv..',;. -'. - <;<-;.Y. .Y ,„ Y - ,27-"Battery;' shipments.'..'.,.,/;.. ,Y;»Y.<V. J^. .,,.^ .;'/;..--.-'.. • !34 :.Beef and veal.-, *>,,.v,-,.......Y.Y <Yv»'r::,Y...-.'.-.- ^ ' ; 28 ;
;, Blast furnaces, steel works, etcY'•, i- .:* -.' ,Y 1'.',; - . . « . - , , ,, Bonds, outstanding, issued, priceu, sales, yields.... 19,20
?Bras^ai^hrwii<fe..;.,.:/,:.-.-. Y^,>.:i .YviY.... ;';.^;'.;•'.' >>! :' 3'"llrifsk,.,. v1.'-'.,,; ^', .VvYv;:.-/,,.;. VI;X.-.'^V..Y.Y. .-. YYY'3E;Building and construction materials... .Y..,. Y.. . 4 ^ 7 ,
;;' ! ' .";Y' Y ; Y" Y' Y- Y ^ Y Y ' . " y'--Y;r:;-9,-%flv36r38;• Building costs.. .Y'.-. Yvw;.'.-..,",'. ;.'r.Y. .V;'.Y;^.'.,:...>Y;;..,Y/ -',10,,:
Building permits... ;-;>Vi, T.Y-. *',...\ ;,;».V^YY^V.::--;; '• 10-Business incorporations (new), failures. . . . . . . . . . 7
'.'Business sales and inv«nl^ries.-.-,!':*'Vv.-.- .-.-.Y--.';'.%-.. Y'' ;; -^:% •- Butter..; *;,Y .i -./, i-. .Y ;Y; ,h;;Y..',! vY'.Y,.,'. > Y ; Y ;26\
' ; Cattle 'an . . . . , . . . -• Cement and concrete products. .. ;.;« , , ..;-; : , '•;*. -'9,10, 3' ' - ' ' ', * . . .. * , .
Chain-store sales, firms with 11 or inor^s«(>3reB;.'->t( -'' ' 12,=• ' ' '
, » , . . ., Cigartettes ,and 'cigars.'. *; i*
^. , . , , . , , .i^ atmosphere, hea
' '
^. -. , . - ... : ,. ^' . - ; ; ' Employment, un employ men t, hours, ,carni|*g*;Y , '13-15
• , ';. Fi ed investment, , structures .- W. . V ii ' .'•. ;. v-i .-; . Y : • .' - - 1• • Highways and 'roads:. ; ';';-; i' * t;. /-. . U, . /;'-. A :> ; '; .9 10 -'• • ,' Housing stftrts.-v .Y'.-/, ,\^ .,'. ; ,-,, -. ,/^ .'• , <»• .- . V .. .' Yv ;.Y' " Yl0,:'., Materials output indexes. ;,'. /;;.-. .'. < :,«>. <-." .-«/. ,,.Y'.:' '10 ''' ; ' H^ construction ptit fn plimse.'«v.^ . .'.-.-. Y;:. .'.,. : ; ' ':9 -• Consumer credit. .-./.';;.,.^v. .,.-,„ .'/, ,:.;i,, , .-, ,• ;- s ,, ',' 17, 18' .
Consumer expendiijtur^s.Y.Y-v'k*-. •'» *Y.'.Y''.^;i.;".>;irV,.i;':l, ;Consumer goods output, indeit I * , ,......,;.,.*. 3E, 4 :Consumer price index. . .\YvY; '"'*-\:,Y-.:. » ' /> . -•' v.V- • " • ' ' • 0 -
, Copper.. ,;'...;,.. /^Y, „, ... . ;. ; ;-.-;'v^YV,'. .Y. . ; > - ' ' 33', . ; . . -. . . .> . . ... , . . . . ; ,
Cost of living (see Consumer piriee index) . , V ..,,., 8Cotton, raw and nianafactttres,; ........ 7,9,22*38,39Cottonseed cake and meal and oil; ; *Y, » , ,^ . , Y, . 30Credit, short- and interntediate-term, . . . : . ;•..„ , /Y 17Y18
, Crops ;.,;,,:, v . =i ; ; ,. ;Y :• / , ;• -; . .• .--; , . Y. •; . "3, 7, 27^30; 38 -•• cpde oa. , ,;,Y; ; ;. ;. . . . ;v>; »• , . : ; ;.;,• ;;•;-,::;/;•„ ,'.; ,< 4, ss' Currency in circulation. <\i .,. »-. ;\ , * ;-; . .^v.^-; ;•; ; .;/ ;"\19
rBairy products, . ,Y ; ., ;1 ;:.,. v'Y:Yi. ; ,; ?'/.. ; . . / 3,7, 8^ 26, 27Dehits*,banka'/:. ;-,. . .Y-; .;:... ;;.; ...,.;;.; ;': -;' ;-, • 16 •
, Debt,- U,S« Government'^ .,-;,> .-.'•:, -;Y . t , •;' v ;.,.;. v'-i ;• , . 18' -Department stores. ; . , „ » , , \ ; ; '. - . ; . , , , . ; , ... ,Y . II, 12Deposits* bank. Y. . .. ; . . V, f , , , , r, . . . . 1 /, . , . 16,17, 19Dishwashers . . , ; , vivt ..... '; >„','. ;„. ' ;- * .>. .».'.. ..„. .Y.,? , ; 34Disputes, industrial, •,.;.: v-; ,Y.-.''. v^.Yv;', .'.. . i'. ; .7 16
, Distilled spirits. » ; > ,=Y. . '. . v ; ,- ; ;YV ____ ". • C . '. , ;• '; , . : ,< -;26Dividend payments, rates, aid yields. . , ... . 2, 3, 19-21
• Drug stores,,, sales.> .:". . '.- x;, ;• .;-.',' » .> ;".',"« *,; ; .>. >\f\ .'Ml, 12
Earnings, weekly and hourly, . . . . . . . . . . . . . . . . . . 15Eating and drinking places. . . . . . . . . . . . . . . . . . . . 11, 12Eggs and poultry ..... ---- ... ..... ..,,,, 3,7,8, 28,29Electric power. , . , ____ , . . . . . , ____ . . . . . . . . 4,8,25,26Electrical machinery and equipment . . ---- . . . . . . 4-7,
9,13-15,19,22,23,34Electronic components. . . . . . . . . . . . , . . . . . , , , » . . . . . 34Employment estimates. . . . , , . . . . . , . . . . . . . . . . . 13, 14Expenditures, U,S. Government ...... . . , , , ..... 18Explosives................................... 25Exports (see also individual commodities}. . . . 1, 2, 21-23
Failures, industrial and commercial . . . . . . . . . . . . . 7Farm income, marketings, and prices, . . . . . . . . . 2, 3, 7, 8Farm wages. * , , . , . » . * . ..... . . , . ... . .... . . ..... 15Fats and oils,., .,..........,,, , » , * , . » 8,22,23,29,30Federal Government finance , . . . « . . . . . . , . . . * . . . 18Federal Reserve hanks, condition of ..... . . . . . . . . 16Federal Reserve member hanks. . . . . . . . . . . . . . . . . 17Fertilizers. . ; . Y. . . . i . . ..... . . . .. . . . . . . . . . . . . . 8,25Fire losses. . .,*................ ..... ......... 10Fish oils and fish. . Y. , , . . . . . . . , , , , < , , . . . . . ; . , , 29Flooring, hardwood, . i . . . . . . . . . . . . . . . . . . . . . . . . 31Flour, wheat, ,-;.;. . . » , » , . , . » . ; , , , , . « . . . . , . . ; . 28Food products, ,Y . . , . . . . 1,4-3* 11-15, 19, 22, 23, 26--S0Foreclosures, real estate. . . . . . » , . , ; , . . . . ... , , . . 10Foreign trade {see also individual commod.) . . . . . 21-23
- Foundry equipment. . , , • ; , ',,, ; . . . . . ; . , ; ;,, .^.; . . * ; 34Freight cars (equipment) . . » ; . . . , , . . . . . . . , . . . . , 40
- Fruits 'and' vegetables . * ,- V ,; •, . ,' . V . .• ;.„ < .„. . * . , . . . , 7, 8Fueloil; . . ; . . . . . , , ; . , , . , . a,.*.,-, . , . , . . . . , v » . . 35,36
:^FiieI».v »:;:•;; .-v. ;;:. . . . .". . .--; ,-.\V; . ,;,,-<8,22,J3, 34^36," Furnaces. ; /,. '..; . */.-. .' »".' . ; % * . » ; , « '.-,« , . - . . . . .-. .'. *• •,' •- .-34 -
Furniture. « , ;, , , ^.-^ .,„.;;,, >\ ,.,;. < . . . . * . ,,v . ,4,8, H-15 '
Gas, output, prices, sales, revenues/. .'. . . . . * . . . 4,8,26.Gasoline;. vv:,;.v=.Yv,. .v .;>.....,,. ..:. . .\:.,,w' 1+3$ •Glass and products* . % , . . . . . ..... - , . . * ; . , > ----- . 38' ' • ' •
National defense expenditures.«....,,,». Y. . * , , * 1,18National income and product , . . . . . . . , , . . . , . . . . 1,2National parks, v is i ts . . . . . . . . . . . , . . . . . . ; . . , . . , 24Newsprint,....... 23,37New York Stock Exchange, selected data........ 20,21Nonferrous metals..,...,»».. ,. 4,9,19,22,23,33Noninstalknent credi t . . . . . . . . . , . , , , . , , . . . . . , . , 18
O a t s , , . . . , . , . . , , . . , . , , , , ; » . . ; . . . , . . . . . . . . . . . 27Oils and fats . . . . . . . . . , . . . . , , , , , , 8,22,23,29^ 30Orders, new and unfilled, manufactures*......... 6,7Ordnance.. , . . , , . . . . . . . . . . . , , . . ' . . . , . . . , , 13-15
Paint and paint materials,,,... YY.......... -.-I.. 8,25Paper and products and pulp. * . . Yv.. * » . » . . . . " . , 4-6*
9,13-15 19,23,36r 37.Parity ratio.,.. „.....>•,-,......-.;......'...,....'' 7 'Passenger cars.»v*,,.,.,.,.; t»$-6*8,0,11,1^ 10>22,23,4»Passports issued,...... ................ 24Personal consumption expenditures.... . . . . . . . , . . 1Persona! income. < , . , , . . . . . . . . . * . , . . * 2,3Personal out lays ,» , . . , ,* . . . . . . . , . . . , . v . . . . 2Petroleum and products.,,.. ; • ; . . . . . . , . _ . . . . , , 4--6,
8,il-lS, 10,22,23, 35,36Pig iron. ,-„ , -^ , . , , . , . ,,v. .>..'... ,'.v;...,,.,. ,-.,,',--3l,;32'Plant and equipment expenditures... . . . . . . . . . . . 2Plastic* and resin materials,..,.......,. , . . . . . , 2$Population...,,,...-, v.... ,Y,-,; v.'; -...-.- ,-.Y.-...,-.-; •'•' 1'3''Pork,,;,-,, *''..:,.;;,•:,'.,,,.,., ,v';•;.Y;V*i. ti. Y. ,'v^:* • "28'^Poultry and egg*. *;.;."-,:, i .• .•'.';,. •;,;',; ,:.Y ,\ '»V S,7,,8,.28*29 *Pricey (see also individual commodities).,;,.. 4., 7-9
' Printing and publishing..;, .,';;.„; f,.-,.,>-.;V.;,;'.'. Y. . - . 4,;13-15 ,'Private sector employment, hours, earnings..,,. * 13-15
-Pro^ixir|iorate,\Y,-.^;.;Y,";Y^;.%'. ;>.Yv,»';•.'*«-, -. '2,-19• I^|kj«ttillli««^YK'^,'^..',»,,VxY' ' "" "'' i*uip and .pwlpwood, u i; - i- v'... ; •»» , 'Purchasing power of the dollar. ..
. . . , . , . ,Grains aiid products.- ...... ,.;.... ., ; , 7,8,22,27,28grocery st»tes.^ ..•.;, ;.,-;,.rf . . . .> .\ t ; ; ; *-,-« * ,, ; « « 11,12 ;
s 'Gross national 'product. ; '; -.. -. '.- . ** > . . » Y, U'» , . , , .,« , '-'-' '1 ' -Gross private domestic investment. . . . . ' . . . . . . . .;'. : 1
" 'Gypsum ;and-t>roducts«<. .-', ;- .. , ; Y,,."., i *• ,•» • •- --^,- i « » 38;,;
• - Hardware' stores. ., ., ,..'...*; % ,.:.;...-. .'• . -.".'...'..'*. Y/ - •. - , 11 " -Heating equipment. . .-.,,;.;-. >. . ; '. !;;. . v. .,. . , ;-. * . Y \9,;34;
, ISdbs atid skins,- i;,>Y.w:* .Y' . ..-.'.. .v *x.. i, v>'Y,v . . • 9,;30";•* .Highways and roads;. V/A:,;* '* v .;; , ,-i .". , -. '.' . I :. v-."., . • '9,' I'O .;- ' " ' '
,- Ranges. ,-' Rayon and acetate ;, Y. Vv.v ,Y' Real estate , .!','.". v.-;' ,- v . ; . 1' .Receipts, U.S. Government .'
i - ' * ;•>' J iYY Y y4; 11, 34 '.<W5 f 16,20, 21, 24,40
" ( ' ' . -3^ '•18'-
"18" :'8
....-. . ». .Registration (n«w vehicles) .
• Rent (housing). .-.YY;.;^,, ; ,40
. . . , . . ^ « , . .Home electronic equipment ; , ';« .'' .-, .. ,', ;1 .- 1 ,, ,» . , ", .'.;-. Y •$ ' . • •
" Home Loan banks, outstanding advances. . . . . . . . •; ' ; 10 : -' ^ - ' v " . '.''. ,-.,.,V i'.-,. . . .-. Y. V-, .. .' .--. . .- .'• Y 10'"-'
. . . ,and siding, asphalt. ;,'.;,.; ,',; /;and products (inck plastics) *' ' • *
36; ..
Hours, i . . „ , . ,Housefurnishings. » » , ' //,;/.;._..-•;'w,;.•>.,,',,!./.y;Yv; l,'4f8»,ll* J2,Household appliances, radios, and television sets. 4,
, Housing starts and permits... . . . .<•*..->.'.., ;-,,V»,yv ---•'; 10:!
Imports (see also individual commodities)... 1,2,22,23Income, personal. .>/.,-,.,,. .Y i,.;,.Y,,=v,..,:, ,,',;;j , . ..'.;.;'= '.2,'3>
" Saying,,; Savings deposits.
'
- ' 2 '/ 17;,
20,21\:'. . .-'Shoes and ;other -footwear;;
- '
. ^ ,Industria) production indexes:
' ', , . . . . .:- - By market grouping; . , . ,.'.Y,YY.Y ..vY'.-»:; 1 ,-V-«,' .*-' ' ;3,4 •
:- Installment.credit, y . ;> ; . v ;. •' . . < i .Y,,',Y - / - ; 124M8 '•Instruments and related products . . f „ . . \- j 4H6, ISrl' '
- . . . . .-.:; . iVwY. -' ,11* 12, 30,':H:,;^.,y;,^ -,19."
*-.-«' .-' *.'. .- » '-- •« — ' . ' - . » ' 30, , , . ^ Y .Y^.... ;-; . ;.»•; ;- •-'' ,39;';
Steel Craw)rands^ Manufactures .,i ... ,22,23,31,32• Steel scrap, v, •: , ,;;;:;,. ;;-. .Y,-:.YlY.>'v*;;V:v, > v *. ,Y; ,, Stock market customer financing. 4 ,. ,', ;.-; ,. ",,,. ,•; . ..»,.; ; . . yw.-'-
Stock prices, earnings, sales, etc, Y";V..^.,U . , - . . , . - 20,21--" ' -«iass products. ;:;'v :,;, '* ' ' '
', r a n c ! ? , - ' . v , » v r , , , . . * .-,• .: Interest 'and ,«toney,rales^ vi'ilU , *".' <-\;*''; 1 nv en tories, manufacturers' ';and,trad* ;Inventory -sales ratiosYv, *'. *'; :, Y »";' ' '
« , ,'6, 11, ,I3(
'
•. ' Ijahi>r .a'dyertlf ing index,' st5>jppiifes, turnover. ; •«. *;' , ,:- ^hw'jferce-.>v,.-. , ''. ,','l-U i''h'.. >>> V,' , .v»Y/, ; . iw/--Lainh and mutton. ;Y.Y '; « V. V-. .' . ..,' .;,.-.»=' .- , . . ,',. .•. .;. '-
' '. .. .;. v-.:'./. .v.-.',.,;, . ,-„. .".',;.;vU'..i :Y! ; 33"
t,eather and products ; . . . . . ;. . . . .»...;. 4, 9, 13-15, 30' ' i .Y;-..'V.-vY;.. ,,vY. v/^ *, ..,.,; .-.-.^. ;. 18V19' ''
.. .. ., ..,.. „ „ . .: ^ .;.Y.,HV •' -;: ;|4 ,-
';.TMev!si0n-and radio; . Ya - i .'.^ . ;;' ;/, ;Y .;,'.-^v ;4,ll,-34'YTextiles and products. , . » 4^6, 9, 13-15, 19V2^ 23, 38-40
;,rPittv; : ..V. . ;•;'':.;*..;•: . , ,. »^Y;'< .-1 .•••;;-'•, .'v/iv'-.Y/^- *•"- S5:' Tires and inner tubes. . >, i ; ;.'4 ;-. .'^'>'i1. i V U' 9, 11,12, 37Tobacco and manufactures. . . . . . ; =4-7, 9*1 1, 13-1% 30
' ' 34 :., ... , . , . , , , , »*-f rkde (retail and wholesale). ;-, ; ; , , Y, , , ; ;;, Y > 5, 1,STransit lines, local;;, . ,Y; •('-. ;vv.vi ;' ,.:;Y.Y,'. ;>'..S-;--.t "3»-"
^ ,.,./,;,.;,;_;;.. ,;^;,+...;,./.;.uv. „, Y3v7,'8?|8';: Loans,'; real estate, agricultural, bank, brokers* • ; , ' , ' : - ,A ' , - x -
r (see also Goniiumer credit)....Y..,.. 10,1 , 17 18,20:;'I,ub|fcants.',>-'.;.',.-'.-.Y''<••'••. *»,? ^ .'i'..'».;'..»>'. »'rY\ .'.,.;. 3$,'36 ,Lumber and products,..... ;.;,.; , » , , 4,9,10-43,19, 31
. v.\ ;-.,. . • '. .Yv. . ; . Y . . :-; ,:Y. - :.. .-a4:.Machinery, ....... ... . . , . .% 4-7, 9, 13-15, 19, 2?, 23, 34Mail or^er houses, sales . '; . ,, ; , . . .... . , .,,.., . , . 11IVFan^hdurs, aggregate, arid indexes . , , , . « , . .... . 14,15Manmade fibers and manufactures. . . -*.-. . . . „ - . < ; ; . „ / 9, §9Manufacturers' sales (or shipments), inventories,
'"'; '' orders.. . ;,. , .'', ,-•••, . .-v.-.'i v ^ ' » - * • • »'?'/»-. /,'.;,„, Y,5. ';.-."'• 5- 7 VManufacturing employment, unemployment, pro*
duction workers, hours, man-hours, earnings.. . 13-15Manufacturing production indexes. ...... ___ , . . Y 3,4
, Margarine. .:Y^ .;,; , ;>"/. . ; ;-; ...-...,-.'..-. .-J. V, »- . ' , , 29;-M^at animals and meats. ~ , . . . . . _ . . . 3, 7, 8, 22, 23, 28Medical and personal eare< . . . * . . . . ---- . . * >•;, . , * 8Metals. . . ;Y; , . . .1 : ..... ,;. . . . 4-7,9,19,22, 3, 31-33
'Milk. ,...;,..'.;.;;,;,,, ..', .v-.,.'.... ;.. ;'. .v. .... • - 27 "Mining and minelrais. . . ^ .......... . % . 2-4, 9, 13-15, 19Monetary statistics. . , ,•', . . . . . ,; . , . . . ..... ... * . , 19Money suppfy. ... . ; .... . . . » ... ".Y . . , . * ... . ... ; „ " 19Mortgage applications, loans, rates. .. <'.... 10,16,17,18
."Motor! carriers.*. .-.,;,. ... ;» :,.- ....-, . '....„....,. . * 23, 24Motor yebicles, ........ . . .1, 4-6^ 8, 9, 11, 19, 22, 23, 40Motors and generators. . ...... , . . . , . . . . . ,*. . . . 34
Unemployment and insurance: *'; \'.\.-'.... /.;U.S. Government hondsY.. v'.Y>;>-.-. '.V .;„:-.,,';, . ,
- lJ,S,;'Govcrnmeiit finance...»'»'«,...;.;.;,-'; Y,..'.-/.-..-.'.;" 18 •/Utilities. .:.Y.:v..:,.,, ,;.Y^Y.,. ,.Y; 2-4,9,19-21,25,26
Tacuum cleanersV.. V..:;-'.,,;. /»..-;.,-.-,Y;...-..,.. f.'- • .'J4\\-'Variety'"Stores.. Y;Y.\ .--,-...;.,,. >- . . . -« , -* -V;y .«- :ll»J2;V*fge«ahle oils,.,;... .Y... :/.,.,.; /.,Y;-..; „, i'.-• 23,29,30Vegetables and fruits,. . . . . . . , . , , ; . , . . . ,-. . . , . . ™* j»
. -Veterans* benefits,,»;;. \'.»„.'...,> i ; . » r -.-.;.; .\;,:.-.;.' \ *»_:
Wages and salaries. .^ , . . ; 'V . . . . .» . ; ' . . . . . ',.;.., 2,3,15Washers and dryers.,..... , ; , . . ; , . , « , . . . . . * . . 34Water heaters.....Y ... . . . . . . . . . ' .-.-*-... . . . . . . . , |4Wheat and wheat ftour*., V. I , . . . . , , ; . . . . . , . . .» 27^2»Wholesale price indexes i , . . ; . . . » . . . . .> ...... » 4
1*Wholesale trade, i . , Y. Y..; . . . * Y . . . . . . . 5,7,1Wood' pulpv',.', i.vv* i..?;.,.... •>".. - ., - i' .'-*' : > " • *Wool and wool manufactures,,,...,. . * . . , . . . . . .
Zinc. 33
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
UNITED STATESGOVERNMENT PRINTING OFFICE
PUBLIC DOCUMENTS DEPARTMENT
WASHINGTON, D.C. 2O4O2
OFFICIAL BUSINESS
Don't miss out onOUTLOOK '73
This year's edition-Outlook '72- wasout of print in less than 100 days.
Return your reservation today for the
U.S.INDUSTRIALOUTLOOK'73with its 500 pages of 1973 economicforecasts and 1980 projections formore than 220 industries.
Send no money now. Well let you knowwhen it's ready — about nekt January 3 —and you can send your check with yourorder.
Use the Reservation Form.
QO
QZ
UJa:LLJxh-u
eo 2 u»— Stl •-•e
mm
eom
m30
LT>(U"U -O O Q r»i
uudgsi's 3£ a> £.U
o||Q,Wi >i C r?c Q tr c\»X -^— »w ^~
*3 O Q. GOOJ D 0 C
~ 0) . "S•~ ir co flja. £30 D
ia;
o^T-h.
O 3O aJ
12-"O *-
Q.O.
8-8 -w 05^i0-0
<s £ a;0) O
DO
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis