ERP1980 Appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,EMPLOYMENT, AND PRODUCTION

197Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

CONTENTS

NATIONAL INCOME OR EXPENDITURE: Page

B-l. Gross national product, 1929-79 203B-2. Gross national product in 1972 dollars, 1929-79 204B-3. Implicit price deflators for gross national product, 1929-79 206B-4. Implicit price deflators and alternative price measures for gross na-

tional product and gross domestic product, 1929-79 208B-5. Gross national product by industry in 1972 dollars, 1947-78 209B-6. Gross national product by major type of product, 1929-79 210B-7. Gross national product by major type of product in 1972 dollars,

1929-79 211B-8. Gross national product: Receipts and expenditures by major eco-

nomic groups, 1929-79 212B-9. Gross national product by sector, 1929-79 214B-10. Gross national product by sector in 1972 dollars, 1929-79 215B-ll. Gross domestic product of nonfinancial corporate business,

1929-79 216B-l2. Output, costs, and profits of nonfinancial corporate business,

1948-79 217B-13. Personal consumption expenditures, 1929-79 218B-14. Gross private domestic investment, 1929-79 219B-15. Inventories and final sales of business, 1946-79 220B-16. Inventories and final sales of business in 1972 dollars, 1947-79 221B-l7. Relation of gross national product and national income, 1929-79 ... 222B-18. Relation of national income and personal income, 1929-79 223B-19. National income by type of income, 1929-79 224B-20. Sources of personal income, 1929-79 226B-21. Disposition of personal income, 1929-79 228B-22. Total and per capital disposable personal income and personal

consumption expenditures in current and 1972 dollars, 1929-79. 229B-23. Gross saving and investment, 1929-79 230B-24. Saving by individuals, 1946-79 231B-25. Money income (in 1978 dollars) and poverty status of families and

unrelated individuals by race of head, 1947-78 232

POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY:B-26. Population by age groups, 1929-79 233B-27. Noninstitutional population and the labor force, 1929-79 234B-28. Civilian employment and unemployment by sex and age, 1947-79.. 236B-29. Selected employment and unemployment data, 1948-79 237B-30. Unemployment rate by demographic characteristic, 1948-79 238B-31. Unemployment by duration, 1947-79 239B-32. Unemployment by reason, 1967-79 240B-33. Unemployment insurance programs, selected data, 1946-79 241


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY—Cont'dB-34. Wage and salary workers in nonagricultural establishments, ^aSe

1929-79 242B-35. Average weekly hours and hourly earnings in selected private non-

agricultural industries, 1947-79 244B-36. Average weekly earnings in selected private nonagricultural indus-

tries, 1947-79 245B-37. Productivity and related data, private business sector, 1947-79 246B-38. Changes in productivity and related data, private business sector,

1948-79 247

PRODUCTION AND BUSINESS ACTIVITY:B-39. Industrial production indexes, major industry divisions, 1929-79.... 248B-40. Industrial production indexes, market groupings, 1947-79 249B-41. Industrial production indexes, selected manufactures, 1947-79 250B-42. Capacity utilization rate in manufacturing, 1948-79 251B-43. New construction activity, 1929-79 252B-44. New housing units started and authorized, 1959-79 254B-45. Business expenditures for new plant and equipment, 1947-80 255B-46. Sales and inventories in manufacturing and trade, 1947-79 256B-47. Manufacturers' shipments and inventories, 1947-79 257B-48. Manufacturers' new and unfilled orders, 1947-79 258

PRICES:B-49. Consumer price indexes, major expenditure classes, 1929-79 259B-50. Consumer price indexes, selected expenditure classes, 1939-79 260B-51. Consumer price indexes by commodity and service groups,

1939-79 262B-52. Changes in consumer price indexes, major groups, 1948-79 263B-53. Changes in special consumer price indexes, 1958-79 264B-54. Producer price indexes by stage of processing, 1947-79 265B-55. Producer price indexes by stage of processing, special groups,

1974-79 267B-56. Producer price indexes by major commodity groups, 1929-79 268B-57. Changes in producer price indexes for finished goods, 1948-79 270

MONEY STOCK, CREDIT, AND FINANCE:B-58. Money stock measures, 1953-79 271B-59. Commercial bank loans and investments, 1939-79 272B-60. Liquid asset holdings of private domestic nonfinancial investors,

1952-79 273B-61. Total funds raised in credit markets by nonfinancial sectors,

1971-79 274B-62. Federal Reserve Bank credit and member bank reserves, 1929-79... 276B-63. Aggregate reserves and deposits of member banks, 1959-79 277B-64. Bond yields and interest rates, 1929-79 278B-65. Consumer credit outstanding and net change, 1950-79 280B-66. Consumer installment credit extended and liquidated, 1950-79 281B-67. Mortgage debt outstanding by type of property and of financing,

1939-79 282B-68. Mortgage debt outstanding by holder, 1939-79 283

200


GOVERNMENT FINANCE: Page

B-69. Federal budget receipts, outlays, and debt, fiscal years 1970-81 284B-70. Federal budget receipts and outlays, fiscal years 1929-81 286B-71. Relation of Federal Government receipts and expenditures in the

national income and product accounts to the unified budget,1979-81 287

B-72. Government receipts and expenditures, national income and prod-uct accounts, 1929-79 288

B-73. Federal Government receipts and expenditures, national incomeand product accounts, 1953-81 289

B-74. State and local government receipts and expenditures, national in-come and product accounts, 1946-79 290

B-75. State and local government revenues and expenditures, selectedfiscal years, 1927-77 291

B-76. Interest-bearing public debt securities by kind of obligation,1967-79 292

B-77. Estimated ownership of public debt securities, 1967-79 293B-78. Average length and maturity distribution of marketable interest-

bearing public debt securities held by private investors, 1967-79. 294

CORPORATE PROFITS AND FINANCE:B-79. Corporate profits with inventory valuation and capital consumption

adjustments, 1946-79 295B-80. Corporate profits by industry, 1929-79 296B-81. Corporate profits of manufacturing industries, 1929-79 298B-82. Sales, profits, and stockholders' equity, all manufacturing corpora-

tions, 1950-79 300B-83. Relation of profits after taxes to stockholders' equity and to sales,

all manufacturing corporations, 1947-79 301B-84. Relation of profits after taxes to stockholders' equity and to sales,

all manufacturing corporations, by industry group, 1978-79 302B-85. Determinants of business fixed investment, 1955-79 303B-86. Sources and uses of funds, nonfarm nonfinancial corporate busi-

ness, 1946-79 304B-87. Current assets and liabilities of U.S. corporations, 1939-79 305B-88. State and municipal and corporate securities offered, 1934-79 306B-89. Common stock prices and yields, 1949-79 307B-90. Business formation and business failures, 1929-79 308

AGRICULTURE:B-91. Income of farm people and farmers, 1929-79 309B-92. Farm output and productivity indexes, 1929-79 310B-93. Farm input use, selected inputs, 1929-79 311B-94. Indexes of prices received and prices paid by farmers, 1940-79 312B-95. U.S. exports and imports of agricultural commodities, 1940-79 313B-96. Balance sheet of the farming sector, 1929-80 314

INTERNATIONAL STATISTICS:B-97. Exchange rates, 1973-79 315B-98. U.S. international transactions, 1946-79 316B-99. U.S. merchandise exports and imports by principal end-use

category, 1965-79 318

201


INTERNATIONAL STATISTICS—Continued Page

B-100. U.S. merchandise exports and imports by area, 1973-79 319B-101. U.S. merchandise exports and imports by commodity groups,

1958-79 320B-102. International investment position of the United States at year-end,

selected years, 1970-78 321B-103. World trade: Exports and imports, 1965, 1970, and 1975-79 322B-104. World trade balance and current account balances, 1965, 1970,

and 1975-79 323B-105. International reserves, selected years, 1952-79 324B-106. Growth rates in real gross national product, 1960-79 325B-107. Industrial production and unemployment rate, major industrial

countries, 1960-79 326B-108. Consumer prices and hourly compensation, major industrial coun-

tries, 1960-79 327B-109. Summary of major U.S. Government net foreign assistance, July 1,

1945 to December 31, 1978 328

General Notes

Detail in these tables may not add to totals because of rounding.Unless otherwise noted, all dollar figures are in current dollars.

Symbols used:p Preliminary.—Not available (also, not applicable).

202


NATIONAL INCOME OR EXPENDITURE

TABLE B-l.—Gross national product, 1929-79

[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]

Year orquarter

1929...

1933 .. . .

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 *

1977.1IIIIIIV

19781IIIIIIV

19791IIIIIIV P

Grossnationalproduct

103.4

55.8

90.8

100.0124.9158.3192.0210.5212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7688.1753.0796.3868.5935.5

982.41,063.41,171.11,306.61,412.91,528.81,702.21,899.52,127.62,368.5

1,820.21,876.01,930.51,971.3

2,011.32,104.22,159.62,235.2

2,292.12,329.82,396.52,455.8

Personalcon-

sumptionexpendi-

tures

77.3

45.8

67.0

71.080.888.699.4

108.2119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6979.1

1,089.91,210.01,350.81,509.8

1,169.11,190.51,220.61,259.7

1,287.21,331.21,369.31,415.4

1,454.21,475.91,528.61,580.4

Grossprivate

domesticinvest-ment

16.2

1.4

9.3

13.117.99.95.87.2

10.630.734.045.935.3

53.859.252.153.352.768.471.069.261.977.6

76.474.385.290.296.6

112.0124.5120.8131.5146.2

140.8160.0188.3220.0214.6190.9243.0303.3351.5386.2

280.4300.0315.7316.9

327.0352.3356.2370.5

373.8395.4392.3383.3

Net exports of goods and

Netexports

1.1

.4

1.1

1.71.3.0

- 2 . 0- 1 . 8- .67.6

11.66.56.2

1.93.82.4.6

2.02.24.36.12.5.6

4.45.85.46.38.97.65.14.92.31.8

3.91.6

- 3 . 37.16.0

20.48.0

- 9 . 9-10 .3

- 3 . 5

- 9 . 2- 6 . 0- 6 . 3

-18 .1

-22.2-7 .6- 6 . 8- 4 . 5

4.0- 8 . 1- 2 . 3-7 .7

services

Exports

7.0

2.4

4.4

5.45.94.84.45.37.2

14.819.816.915.9

13.918.918.217.118.020.023.926.723.323.7

27.628.930.632.737.439.542.845.649.954.7

62.565.672.7

101.6137.9147.3163.3175.9207.2257.4

170.5178.6180.1174.2

184.4205.7213.8224.9

238.5243.7267.3280.0

Imports

5.9

2.0

3.4

3.64.64.86.57.17.87.28.2

10.49.6

12.015.115.816.616.017.819.620.720.823.2

23.223.125.226.428.432.037.740.647.752.9

-58.564.075.994.4

131.9126.9155.4185.8217.5260.9

179.8184.7186.4192.3

206.6213.3220.6229.4

234.4251.9269.5287.7

Government

Total

8.8

8.2

13.5

14.224.959.888.997.082.827.525.532.038.4

38.560.175.682.575.875.079.487.195.097.6

100.3108.2118.0123.7129.8138.4158.7180.2198.7207.9

218.9233.7253.1269.5302.7338.4361.3396.2435.6476.1

380.0391.6400.5412.8

419.4428.3440.9453.8

460.1466.6477.8499.8

Total

1.4

2.1

5.2

6.116.952.081.389.474.617.612.716.720.4

18.738.352.457.547.944.545.950.053.953.9

53.757.463.764.665.267.378.890.998.097.5

95.696.2

102.1102.2111.1123.1129.7144.4152.6166.3

138.2142.6145.6151.2

150.9148.2152.3159.0

163.6161.7162.9177.0

purchases of goods andservices

Federal

Nationaldefensel

1.2

2.213.749.479.787.473.514.89.0

10.713.2

14.033.545.848.641.138.440.244.045.645.6

44.547.051.150.349.049.460.371.576.976.3

73.570.273.573.577.083.786.493.799.0

108.3

91.693.193.996.4

97.698.299.0

101.2

103.4106.0109.0114.6

Non-defense

3.9

3.93.22.61.62.01.12.83.76.07.2

4.74.86.58.96.86.05.75.98.38.3

ST.310.412.714.316.217.818.519.521.221.2

22.126.028.628.734.139.443.350.653.658.0

46.649.551.754.8

53.350.053.357.8

60.255.753.962.4

Stateandlocal

7.4

6.1

8.3

8.18.07.87.57.68.29.9

12.815.318.0

19.821.823.225.027.830.633.537.141.143.7

46.550.854.359.064.671.179.889.3

100.7110.4

123.2137.5151.0167.3191.5215.4231.6251.8283.0309.8

241.8249.0254.9261.6

268.5280.1288.6294.8

296.5304.9314.9322.8

Percentchangefrom

preced-ing

period,gross

nationalproduct2

-4 .2

6.9

10.124.926.821.39.6.9

- 1 . 311.111.3- .4

10.915.45.15.5.0

9.05.45.21.48.4

4.03.47.75.56.98.29.45.89.17.7

5.08.2

10.111.68.18.2

11.311.612.011.3

15.412.812.18.7

8.419.810.914.8

10.66.7

11.910.3

1 This category corresponds closely to the national defense classification in "The Budget of the United States Government, FiscalYear 1981."

2 Changes are based on unrounded data and therefore may differ slightly from those obtained from data shown here.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-2.—Gross national product in 1972 dollars, 1929-79

[Billions of 1972 dollars, except as noted; quarterly data at seasonally adjusted annual rates]

Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

1977:|II '.IllIV

1978:1IIIIIIV

1979:1IIIIIIV


314.6

222.1

318.8

343.3398.5460.3530.6568.6560.0476.9

~468.3487.7490.7

533.5576.5598.5621.8613.7654.8668.8680.9679.5720.4

736.8755.3799.1830.7874.4925.9981.0

1,007.71,051.81,078.8

1,075.31,107.51,171.11,235.01,217.81,202.31,273.01,340.51,399.21,431.1

1,315.71,331.21,353.91,361.3

1,367.81,395.21,407.31,426.6

1,430.61,422.31,433.31,438.4

Personal consumption expenditures

TntalIOI3I

215.6

170.7

220.3

230.4244.1241.7248.7255.7271.4301.4306.2312.8320.0

338.1342.3350.9364.2370.9395.1406.3414.7419.0441.5

453.0462.2482.9501.4528.7558.1586.1603.2633.4655.4

668.9691.9733.0767.7760.7774.6820.6861.7900.8924.5

849.2853.1863.7880.9

882.7894.8905.3920.3

921.8915 0925.9935.2

Durablenrtnricgooos

21.5

10.9

19.1

21.824.716.314.513.514.825.830.633.136.3

43.439.938.943.143.552.249.849.746.451.8

52.550.355.760.765.773.479.079.788.291.9

88.998.1

111.2121.8112.5112.7126.6138.2146.7147.0

135.8136.6138.2142.4

139.3147.8147.5152.1

150.2144 8146 9146.0

Non-HiirahloauraDiegoods

98.1

82.9

115.1

119.9127.6129.9134.0139.4150.3158.9154.8155.0157.4

161.8165.3171.2175.7177.0185.4191.6194.9196.8205.0

208.2211.9218.5223.0233.3244.0255.5259.5270.2276.4

282.7287.5299.3309.3303.9306.6321.5332.7343.3349.3

328.9329.6332.1340.0

337.3339.4344.7351.9

34813441349.2356.0

Services

96.1

76.8

86.1

88.791.895.5

100.1102.7106.3116.7120.8124.6126.4

132.8137.1140.8145.5150.4157.5164.9170.2175.8184.7

192.3200.0208.7217.6229.7240.7251.6264.0275.0287.2

297.3306.3322.4336.5344.3355.3372.5390.8410.8428.2

384.5386.9393.3398.5

406.1407.6413.1416.3

423 54261429 9433.2

Gross private domestic investment

Tntali oiai

55.9

8.4

33.6

44.655.829.618.119.827.871.070.182.365.6

93.794.183.285.683.4

104.1102.997.287.7

107.4

105.4103.6117.4124.5132.1150.1161.3152.7159.5168.0

154.7166.8188.3207.2183.6142.6173.4200.1214.3214.8

191.0199.6206.7203.0

209.0216.8214.0217.4

217 22217214 2206.2

Total

51.3

13.3

32.0

38.443.824.418.022.131.458.870.476.870.0

83.280.478.984.185.696.397.195.789.6

101.0

101.0100.7109.3116.8124.8138.8144.6140.7150.8157.5

150.4160.2178.8190.7175.6152.4166.8186.9200.2204.6

179.7186.2190.1191.7

192.5201.2201.8205.5

204 9203 5207 1203.0

Fixed investment

Total

37.0

10.4

20.7

25.730.317.614.018.727.642.048.951.046.0

50.052.952.156.355.461.265.266.058.962.9

66.065.670.973.581.095.6

106.1103.5108.0114.3

110.0108.0116.8131.0130.6113.6119.0129.3140.1148.2

126.3128.3130.8131.7

133.1140.3141.6145.5

147 2146 9150 7148.0

Nonresidential

Structures

20.6

4.9

8.6

9.911.96.74.25.58.3

18.817.318.417.8

19.120.620.622.523.525.328.128.126.426.8

28.829.330.830.833.339.642.541.142.044.0

42.841.742.545.542.537.138.339.143.947.9

37.539.039.940.1

40.243.945.146.5

45.847 948*749.3

Producers'durable

equipment

16.4

5.5

12.1

15.818.510.99.8

13.219.223.231.632.728.2

30.932.331.533.831.835.937.137.932.536.1

37.236.340.142.747.756.063.662.466.170.3

67.266.374.385.588.176.580.790.196.2

100.3

88.889.390.991.5

93.096.496.598.9

101.399 C

101998.7

See next page for continuation of table.


TABLE B-2.—Gross national product in 1972 dollars, 1929-79—Continued


Year or

quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

1977:1IIIllIV

1978:1IIIllIV

1 9 7 9 :1||IIIIV P

Gross private domestic investment-continued

Fixed investment—continued

Residential

Total

14.3

2.9

11.3

12.813.56.84.03.43.8

16.821.525.824.0

33.227.526.827.830.235.131.929.730.638.1

35.035.138.443.243.843.238.537.242.843.2

40.452.262.059.745.038.847.857.760.156.5

53.557.959.360.1

59.460.960.260.0

57.756.756.555.0

Nonfarmstruc-tures

13.6

2.6

10.6

11.812.56.13.53.03.5

15.519.823.922.3

31.525.925.326.328.833.830.428.329.236.5

33.733.636.941.742.241.636.935.541.141.5

38.950.560.357.943.037.246.055.557.754.1

51.255.757.058.0

56.858.657.757.6

55.654.454.052.5

Farmstruc-tures

0.6

.2

.6

.8

.9

.6

.4

.4

.31.11.31.51.4

1.31.31.21.21.1.9

1.01.0.9

1.0

.81.0.9.9.9.8.9.9.8.9

.6

.7

.7

.5

.9

.7

.7

.91.0.9

1.01.01.0.7

1.1.8

1.01.0

.8

.91.01.1

Pro-ducers'durableequip-ment

0.1

.1

.1

.1

.2

.1

.0

.0

.1

.2

.3

.3

.3

.3

.3

.3

.3

.3

.4

.4

.4

.5

.6

.5

.5

.6

.6

.7

.7

.8

.8

.9

.9

.91.01.11.21.1.9

1.11.31.41.4

1.21.21.31.4

1.41.51.41.4

1.41.41.41.5

Changein

businessinven-tories

4.6

-4 .9

1.6

6.212.05.2.1

- 2 . 3- 3 . 612.2- .25.5

- 4 . 4

10.613.74.31.5

-2 .27.75.81.5

-1 .86.5

4.42.98.17.87.3

11.316.712.08.7

10.6

4.36.69.4

16.58.0

- 9 . 86.6

13.114.110.2

11.313.416.611.3

16.515.612.212.0

12.318.17.13.2


Netexports

2.2

.2

2.0

3.0.8

- 2 . 5- 7 . 3- 7 . 2- 4 . 511.616.68.58.8

4.07.44.92.04.54.77.38.93.5.9

5.56.75.87.3

10.98.24.33.5

- .4- 1 . 3

1.4- . 6

- 3 . 37.6

15.922.615.810.311.017.7

11.110.913.25.8

5.312.313.312.9

17.013.220.120.7

services

Exports

15.6

9.4

13.3

14,614.710.39.0

10.013.526.130.224.224.2

21.725.924.923.825.327.932.334.830.731.5

35.837.039.642.247.849.151.654.258.562.2

67.167.972.787.493.090.096.198.4

108.9119.8

96.599.4

100.597.3

100.7109.2111.9113.8

117.0116.0122.2123.9

Imports

13.4

9.3

11.4

11.514.012.816.317.318.014.613.615.715.4

17.718.520.021.820.823.225.026.027.230.6

30.330.333.935.036.941.047.350.758.963.5

65.768.575.979.977.167.580.488.297.9

102.0

85.488.587.391.4

95.496.998.5

101.0

100.0102.9102.1103.2

Government purchases ofgoods and services

Total

40.9

42.8

62.9

65.297.7

191.5271.2300.3265.3

93.075.484.196.2

97.7132.7159.5170.0154.9150.9152.4160.1169.3170.7

172.9182.8193.1197.6202.7209.6229.3248.3259.2256.7

250.2249.4253.1252.5257.7262.6263.3268.5273.2274.1

264.5267.6270.3271.5

270.7271.3274.7276.0

274.7272.4273.1276.3

Federal

7.0

10.9

22.8

26.761.0

157.4239.6269.7233.7

58.236.142.448.9

47.081.3

107.0114.695.286.985.989.892.891.8

90.895.6

103.1102.2100.6100.5112.5125.3128.3121.8

110.7103.9102.196.695.896.596.4

100.698.699.2

98.4100.3101.8101.8

99.996.698.599.3

101.198.197.4

100.4

Stateandlocal

33.8

31.9

40.2

38.536.734.131.630.631.634.739.341.847.4

50.751.352.555.459.764.066.570.376.478.9

82.087.190.095.4

102.1109.1116.8123.1130.9134.9

139.5145.5151.0155.9161.8166.1166.9167.9174.6174.9

166.0167.3168.5169.8

170.9174.7176.2176.6

173.6174.3175.6175.9

Percentchangefrom

preced-ing

period,gross

n<sti Anolnationalproduct *

- 2 . 2

7.6

7.716.115.515.37.1

- 1 . 5-14.8

- 1 . 84.1.6

8.78.13.83.9

- 1 . 36.72.11.8

- .26.0

2.32.55.84.05.35.95.92.74.42.6

- .33.05.75.5

- 1 . 4- 1 . 3

5.95.34.42.3

8.94.87.02.2

1.98.33.55.6

1.1- 2 . 3

3.11.4

1 Changes are based on unrounded data and therefore may differ slightly from those obtained from data shown here.Source: Department of Commerce, Bureau of Economic Analysis.

2052 9 » + - 2 8 9 O - 8 0 -


TABLE B-3.—Implicit price deflators for gross national product, 1929-79

[Index numbers, 1972 = 100, except as noted; quarterly data seasonally adjusted]

Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

1977:1IIIIIIV

1978:IIIIIIIV

1979:1IIIIIIV p

Gross

nationalproductl

32.87

25.14

28.48

29.1331.3434.3936.1837.0337.9243.9549.7053.1352.59

53.6457.2758.0058.8859.6960.9862.9065.0266.0667.52

68.6769.2870.5571.5972.7174.3276.7679.0282.5786.72

91.3696.02

100.00105.80116.02127.15133.71141.70152 05165.50

138.34140.93142.59144.82

147.05150.82153.45156.68

160.22163.81167.20170.74


Total

35.8

26.8

30.4

30.833.136.740.042.344.047.752.855.955.7

56.860.561.963.163.664.265.567.669.170.4

71.772.573.674.775.777.179.381.384.688.5

92.596.6

100.0105.5116.9126.4132.8140.4150 0163.3

137.7139.6141.3143.0

145.8148.8151.3153.8

157.8161.3165.1169.0

Durablegoods

43.1

31.7

34.9

35.739.142.145.049.553.761.166.869.169.1

70.874.774.875.573.274.076.079.279.481.9

82.182.783.984.885.785.685.787.490.793.1

95.599.0

100.0101.6108.4117.7124.3129.4136 5144.8

128.4128.7129.5130.9

133.0135.6137.9139.4

142.4144.1145.3147.6

Nondurablegoods

38.4

26.8

30.5

30.933.639.143.746.247.852.158.762.360.3

60.765.866.666.366.666.367.369.471.071.4

72.673.373.974.975.877.380.181.985.389.4

93.696.6

100.0107.9123.8133.4138.1144.7154 6170.9

142.2144.3145.4146.8

150.0153.7155.7158.6

164.1168.9173.2177.3

.Services

31.6

26.1

29.2

29.530.832.434.236.137.338.941.744.446.1

47.449.952.655.457.258.560.262.264.266.0

68.069.170.471.772.874.376.578.882.086.1

90.595.8

100.0104.7113.6123.2131.2140.7150 9163.5

137.1139.4142.0144.1

146.8149.4152.3155.0

158.0161.0165.3169.4

Gross private domestic investment1

Fixed investment

Total

28.2

22.4

27.6

28.530.633.435.636.937.141.348.953.654.8

56.560.862.162.963.464.868.370.970.871.6

71.971.672.072.172.873.876.278.782.186.9

91.195.9

100.0106.0117.1132.3139.7150.5164 4179.7

145.3149.0151.6155.7

158.0162.3166.6170.3

173.0177.8182.4185.7

Total

28.2

22.8

28.2

29.130.933.835.736.636.639.946.851.352.8

54.358.959.961.061.462.667.070.770.672.0

72.271.872.372.973.674.576.879.382.686.6

91.396.4

100.0103.8115.3132.2138.5146.6157 8171.3

142.4145.0147.7150.8

153.0156.0159.6162.3

165.4169.6173.8176.6

Nonresidential

Structures

24.1

19.1

22.8

23.124.728.132.033.433.636.343.748.448.0

48.854.755.856.855.957.061.864.463.363.6

63.162.763.063.564.465.968.871.875.381.1

88.094.4

100.0107.8128.1144.9149.5160.0174 3192.5

154.9159.0161.0164.9

166.5171.5176.5181.4

185.2189.0195.1200.3

Producersdurable

equipment

33.4

26.2

32.0

32.834.937.337.338.037.942.848.552.955.9

57.661.662.563.765.466.571.075.476.578.2

79.379.279.479.680.180.682.184.387.390.0

93.497.6

100.0101.7109.2126.0133.3140.7150 3161.2

137.1138.9141.9144.7

147.1149.0151.7153.4

156.4160.2163.6164.7



TABLE B-3.—Implicit price deflators for gross national product, 1929-79—Continued

[Index numbers, 1972=100, except as noted; quarterly data seasonally adjusted]

Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 p

19771IIIIIIV

19781IIIIIIV

1979:1IIIIIIV P

Gross private domesticinvestment1—continued

Fixed investment—continued

Residential

Total

28.2

20.7

26.6

27.429.932.434.938.140.844.653.758.158.7

60.064.466.466.967.168.770.971.371.271.0

71.471.371.570.971.272.374.677.080.787.7

90.694.9

100.0110.8122.3132.8142.5159.3179.7201.7

152.2157.8160.1166.2

169.3176.7183.1189.5

192.6199 2205.5210.1

Non-farmstruc-tures

27.8

19.8

26.3

27.229.731.834.337.340.043.953.057.458.1

59.563.865.866.366.668.270.570.870.770.6

70.970.971.170.570.872.074.276.780.487.5

90.494.8

100.0111.0122.7133.2143.0160.0180.8203.4

152.8158.5160.9167.1

170.2177.9184.3190.8

194 0200 7207.3212.0

Farmstruc-tures

28.6

19.5

23.4

23.626.630.735.740.842.946.652.857.358.0

59.463.865.766.266.568.370.670.970.870.8

71.270.771.370.771.072.374.376.780.587.5

90.595.0

100.0110.7122.7132.9142.6159.7180.3203.3

153.5159.4161.7166.7

171.5176.8183.8189.3

192 7199 8206.0211.3


77.2

58.8

61.1

59.663.871.371.475.084.695.2

105.6111.5107.9

107.4114.9114.6114.2112.4109.1104.3103.4101.9101.8

100.899.196.895.394.392.190.891.093.295.2

97.599.3

100.0100.1105.3116.2121.9126.3132.3139.6

124.2125.9126.5128.2

129.2131.4133.0135.6

138 2139 5139.6140.8

Exports andimports ofgoods andservicesx

Exports

45.0

25.5

33.3

36.840.246.549.252.653.656.765.869.865.5

64.073.173.071.971.271.873.976.475.775.4

77.178.077.377.578.380.582.884.085.387.9

93.196.6

100.0116.2148.3163.6169.9178.7190.3214.9

176.7179.6179.1179.1

183.1188.4191.1197.6

203 92101218 7226.0

Imports

43.8

22.1

29.6

31.533.237.439.641.143.649.760.766.162.7

67.881.879.175.876.976.878.379.576.575.7

76.776.174.575.677.178.079.780.180.983.3

89.193.5

100.0118.2171.0188.0193.3210.7222.1255.7

210.5208.7213.4210.3

216.6220.2223.9227.2

234 5244 9264.0278.7

Government purchasesof goods and services

Total

21.6

19.3

21.5

21.725.531.232.832.331.229.633.838.039.9

39.445.347.448.548.949.752.154.456.157.2

58.059.261.162.664.066.069.272.676.781.0

87.593.7

100.0106.7117.5128.9137.2147.6159.4173.7

143.7146.3148.1152.0

154.9157.8160.5164.5

167 51713175.0180.9

Federal

20.5

19.4

22.7

22.127.833.034.033.131.930.235.139.441.8

39.947.148.950.250.451.153.455.758.158.7

59.160.061.863.364.867.070.172.676.480.0

86.492.6

100.0105.8115.9127.5134.6143.6154.8167.6

140.4142.1143.0148.6

151.1153.4154.6160.1

161.9164 8167.2176.3

Stateandlocal

21.8

19.2

20.7

21.021.722.923.824.925.928.632.536.638.0

39.042.444.245.146.647.850.452.853.855.4

56.858.360.361.963.365.168.472.576.981.9

88.394.5

100.0107.3118.4129.7138.8150.0162.1177.2

145.6148.9151.3154.1

157.1160.3163.8166.9

170.8174 9179*3183.6

Grossdomesticproduct

32.8

25.2

28.5

29.131.334.436.237.037.943.949.753.152.6

53.657.257.958.859.660.962.865.066.067.5

68.669.270.571.672.774.376.879.082.686.8

91.496.0

100.0105.7115.6126.8133.3141.2151.5164.6

137.8140.4142.0144.3

146.5150.2152.9156.1

159.51631166 2169.7

Percentfrom pr

per

Grossnationalproductimplicitprice

deflator

21

— 7

2.37.69.75.22.32.4

15.913.16.9

- 1 . 0

2.06.81.31.51.42.23.23.41.62.2

1.7.9

1.81.51.62.23.32.94.55.0

5.45.14.15.89.79.65.26.07.38.8

6.07.74.86.4

6.310.67.28.7

9.3938 58.7

changeecedingod2

Grossdomesticproductimplicitprice

deflator

- 2 . 0

- .7

2.37.69.75.22.32.4

15.913.06.9

- 1 . 0

2.06.71.31.51.42.23.23.41.62.2

1.7.9

1.91.51.62.23.33.04.55.1

5.35.14.15.79.39.75.15.97.38.7

5.77.84.76.6

6.210.67.28.7

9.192808.6

1 Separate deflators are not available for gross private domestic investment, change in business inventories, and net exports ofgoods and services.

2 Changes are based on unrounded data and therefore may differ slightly from those obtained from data shown here. Quarterly dataare at annual rates.

Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-4.—Implicit price deflators and alternative price measures for gross national product and gross

domestic product, 1929- 79

[Quarterly data seasonally adjusted]

Year or quarter

1929 . .

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

19791IIIIIIV

Index numbers, 1972 = 100

Gross nationalproduct

Implicitprice

deflator

32.87

25.14

28.48

29.1331.3434.3936.1837.0337.9243.9549.7053.1352.59

53.6457.2758.0058.8859.6960.9862.9065.0266.0667.52

68.6769.2870.5571.5972.7174.3276.7679.0282.5786.72

91.3696.02

100.00105.80116.02127.15133.71141.70152.05165.50

138.34140.93142.59144.82

147.05150.82153.45156.68

160.22163.81167.20170.74

Fixed-weighted

priceindex(1972

weights)

68.'f"69.1

70.371.172.072.873.775.077.279.583.087.1

91.696.1

100.0106.0116.8127.7134.8143.5154.2168.7

140.1142.4144.2146.7

149.1152.6155.7159.0

162.8166.6170.6174.7

Gross domesticproduct

implicitprice

deflator

32.8

25.2

28.5

29.131.334.436.237.037.943.949.753.152.6

53.657.257.958.859.660.962.865.066.067.5

68.669.270.571.672.774.376.879.082.686.8

91.496.0

100.0105.7115.6126.8133.3141.2151.5164.6

137.8140.4142.0144.3

146.5150.2152.9156.1

159.5163.1166.2169.7

Fixed-weighted

priceindex(1972

weights)

68 069.1

70.271.172.072.873.775.077.279.683.087.1

91.796.2

100.0105.9116.4127.2134.4142.9153.7168.0

139.6141.9143.7146.2

148.7152.1155.2158.5

162.3166.0169.9173.8

Percent change from preceding periodx

Gross national product

Implicitprice

deflator

- 2 1

- 7

237697522324

15 913169

- 1 0

2068131514223234162.2

1.7.9

1.81.51.62.23.32.94.55.0

5.45.14.15.89.79.65.26.07.38.8

6.07.74.86.4

6.310.67.28.7

9.39.38.58.7

Fixed-weighted

priceindex(1972

weights)

1.6

1.71.11.31.11.21.82.93.04.35.0

5.24.94.06.0

10.29.35.66.47.59.4

7.46.65.17.2

6.89.68.38.9

9.99.5

10.09.9

Chainpriceindex

1.6

1.71.21.41.31.41.93.13.04.45.0

5.35.04.16.09.99.45.66.37.48.9

7.26.65.06.8

6.89.48.28.6

9.78.88.99.2

Gross domestic product

Implicitprice

deflator

- 2 0

- 7

237697522324

15 913 069

- 1 0

2067131514223234162.2

1.7.9

1.91.51.62.23.33.04.55.1

5.35.14.15.79.39.75.15.97.38.7

5.77.84.76.6

6.210.67.28.7

9.19.28.08.6

Fixed-weighted

priceindex(1972

weights)

1.6

1.71.21.31.11.21.83.03.04.45.0

5.24.94.05.99.99.35.66.47.59.3

7.16.85.07.3

6.89.78.38.9

9.99.49.69.7

Chainpriceindex

1.6

1.71.21.51.31.41.93.13.14.45.0

5.35.04.15.99.69.45.66.27.48.8

6.96.74.97.0

6.79.48.28.7

9.68.78.48.9

1 Changes are based on unrounded data and therefore may differ slightly from those obtained from published indexes shown here.Quarterly data are at annual rates.



TABLE B-5.—Gross national product by industry in 1972 dollars, 1947-78

[Billions of 1972 dollars]

YearGross

nationalproduct

Agricul-ture,

forestry,and

fisheries

Con-struction

Manufacturing

Total

Durablegoodsindus-tries

Non-durablegoodsindus-tries

Transpor-tation,

commu-nication,

andutilities

Whole-saleand

retailtrade

Financeinsur-ance,andreal

estate

Services

Govern-mentand

govern-mententer-prises

Allother1

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

468.3487.7490.7

533.5576.5598.5621.8613.7

654.8668.8680.9679.5720.4

736.8755.3799.1830.7874.4

925.9981.0

1,007.71,051.81,078.8

1,075.31,107.51,171.11,235.01,217.8

1,202.31,273.01,340.51,399.2

26.128.027.8

29.128.229.030.331.1

31.931.430.832.030.9

32.232.332.332.832.1

33.031.332.632.433.0

34.336.135.435.935.7

37.036.238.338.7

22.926.526.5

29.332.533.834.836.0

38.240.940.942.145.5

46.146.648.349.853.7

57.059.059.562.561.2

57.157.158.058.356.0

49.853.856.659.2

114.9121.5115.0

131.3146.0150.7161.2149.6

165.8166.9167.8153.3170.7

172.0171.2186.2201.0215.7

235.1254.0254.1268.4276.2

260.6264.1288.8313.0291.9

277.1303.5325.8341.6

68.572.066.3

78.189.994.3

102.691.7

103.4102.5102.988.8

100.7

101.599.3

110.1119.0129.3

144.1157.0157.2165.5169.1

154.4155.3171.9189.0176.0

162.2178.4192.5203.8

46.449.648.8

53.256.156.458.657.9

62.464.464.964.570.0

70.572.076.282.186.4

91.097.096.9

102.9107.2

106.2108.7116.8124.1115.9

114.9125.2133.3137.8

38.338.736.4

39.644.244.345.945 6

49.452.353.452.255.7

58.059.162.165.668.9

74.380.082.388.292.9

95.197.3

103.6112.6112.4

113.5118.6124.9134.4

76.178.079.9

87.688.391.194.094.6

103.2106.2108.0107.9115.8

117.9119.2126.7131.7139.7

148.6156.9160.7170.6174.5

178.4186.8201.2212.0205.7

206.2218.9228.0239.1

55.457.160.7

64.466.771.174.077.7

82.085.789.893.598.1

101.9106.8115.3115.3119.3

127.2131.4136.5142.9149.3

152.9160.6167.3171.1180.3

182.3192.0205.8216.1

55.156.757.2

59.460.661.663.063.1

67.571.173.375.880.3

82.285.488.692.296.9

101.2106.5112.7116.3121.4

124.7126.6134.5143.1144.7

145.2151.9159.5169.1

68.569.073.1

75.489.896.696.494.9

95.497.6

100.1101.7103.6

107.2111.1115.1118.3122.6

127.4136.4143.5148.1151.8

152.0153.1154.9157.3160.0

162.7164.7165.5168.6

11.112.014.1

17.520.220.222.321.1

21.416.616.821.020.0

19.423.624.524.125.6

22.125.425.722.418.4

20.425.727.731.731.2

28.533.536.132.3

1 Mining, rest of the world, and residual (GNP in 1972 dollars measured as the sum of final products less GNP in 1972 dollarsmeasured as the sum of gross product by industry).

Note.—The industry classification is on an establishment basis and is based on the 1972 Standard Industrial Classification.



TABLE B-6.—Gross national product by major type of product, 1929-79

[Billions of dollars; quarterly data at seasonally adjusted annual rates]

Year orquarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 p.

1977:1IIIllI V

1978:1IIIllI V

1979:1IIIllIV P


103.4

55.8

90.8

100 0124.9158.3192.0210.5212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7688.1753.0796 3868.5935.5

982.41,063.41,171.11,306.61,412.91,528.81,702.21,899.52,127.62,368.5

1,820.21,876.01,930.51,971.3

2,011.32,104.22,159.62,235.2

2,292.12,329.82,396.52,455.8

Finalsales

101.7

57.4

90.4

97 8120.4156.5192.5211.5213.4203.2233.2254.4261.1

279.4319.9344.0365.7367.8393.3416.0441.4450.4481.2

502.2521.1557.3588.8629.9678.6738.7786 2860.8926.2

978.61,057.11,161.71,288.61,404.01,539.61,692.11,877.62,105.22,350.2

1,800.91,853.61,902.91,952.9

1,988.52,078.42,139.52,214.5

2,272.92,296.42,381.92,449.5

Inven-tory

change

1.7

-1.6

.4

2.24.51.8-.6

-1.0-1.06.4-.54.7

-3.1

6.810.33.1.4

-1.56.04.71.3

-1.55.2

3.82.26.5 16.05.89.514.310.17.79.4

3.86.49.417.98.9

-10.710.021.922.318.4

19.322.527.518.5

22.825.820.020.6

19.133.414.56.4

Goods

Total

Total

56.1

27.0

49.0

56 072.593.7120.4132.3128.9125.3139.8154.4147.7

162.4189.5194.6203.1196.1214.5223.3232.3228.2247.4

254.3256.5278.0289.7309.0336.6373.9387 3418.9446.2

456.2479.8526.0598.8638.6686.6762.7842.2930.0

1,030.5

812.2834.2855.5866.6

873.0922.5940.9983.8

1,011.81,018.11,036.01,056.2

Finalsales

54.4

28.6

48.6

53 868.091.9121.0133.3129.9118.9140.3149.7150.8

155.6179.2191.5202.7197.6208.5218.6231.0229.7242.2

250.6254.3271.5283.7303.2327.1359.6377 2411.2436.8

452.4473.5516.6580.9629.7697.3752.7820.2907.7

1,012.2

793.0811.8828.0848.2

850.2896.7920.8963.2

992.7984.6

1,021.51,049.9

Inven-tory

change

1.7

-1.6

.4

224.51.8-.6

-1.0-1.06.4-.54.7

-3.1

6.810.33.1.4

-1.56.04.71.3

-1.55.2

3.82.26.56.05.89.514.310.17.79.4

3.86.49.417.98.9

-10.710.021.922.318.4

19.322.527.518.5

22.825.820.020.6

19.133.414.56.4

Durable goods

Finalsales

16.1

5.4

12.4

15 423.834.554.258.550.131.844.146.948.3

54.762.567.671.569.078.282.387.380.587.4

89.190.298.4105.4115.0127.0139.0143.5157.4169.2

170.7179.8202.1229.6240.8267.9300.6333.9366.5409.7

329.8329.9336.7339.3

340.1364.9372.3388.9

407.1398.0417.1416.4

Inven-tory

change

1.4

-.5

.3

1?3.11.0.0

-.6-1.35.31.7.7

-2.1

4.16.91.1.9

-2.53.02.81.3

-2.82.7

2.4-.13.62.73.96.610.0535.06.1

.01.86.310.97.1

-8.95.311.913.913.7

8813.014.611.3

18.613.110.313.4

18.424 37.34.6

Nondurable goods

Finalsales

38.3

23.2

36.2

38.444.257.466.874.879.887.196.2102.8102.5

100.9116.7123.9131.2128.7130.3136.3143.7149.2154.8

161.4164.1173.2178.3188.2200.1220.6233 7253.8267.6

281.7293.7314.5351.3389.0429.4452.0486.3541.2602.5

463.1481.9491.3508.9

510.1531.8548.6574.3

585.5586.6604.4633.4

Inventorychange

0.3

-1.1

.1

101.4.7

-.6_ 3.21.1

-2.24.0

-1.0

2.73.42.0-.51.02.91.9.01.32.5

1.42.32.93.31.92.94.3482.83.3

3.74.63.27.01.8

-1.84.710.08.44.7

10 49.512.97.1

4.212.79.77.2

.7917.21.8

Services

35.9

25.9

34.3

35.740.650.662.972.276.968.671.376.781.9

88.2102.9113.1121.0125.7135.3145.2157.5166.9179.5

193.2206.7221.5236.2254.4272.7297.73261356.6388.7

424.6465.5510.8560.5626.8697.6776.7866.4969.3

1,085.3

833 5851.7878.7901.9

934.1956.2981.7

1,005.3

1,041.41,064.21,100.61,135.0

Struc-tures

11.4

2.9

7.5

8.311.814.08.76.16.515.721.728.028.4

35.637.839.442.044.549.552.253.053.859.5

58.460.164.368.972.478.881.482 993.0100.7

101.6118.1134.3147.2147.4144.7162.7190.9228.2252.7

174 4190.1196.3202.8

204.2225.6237.0246.0

238.9247.5259.8264.6

Autooutput

7.38.912.0

15.513.412.216.314.921.517.219.614.619.6

21.618.122.925.626.531.831.128 836.636.8

30.642.245.150.742.945.662.472.377.576.1

72 771.570.674.2

73.979.675.880.6

84.377 571.271.4



TABLE B-7.—Gross national product by major type of product in 1972 dollars, 1929-79

[Billions of 1972 dollars; quarterly data at seasonally adjusted annual rates]

Year orquarter


Finalsales

Inven-tory

change

Goods

Total

Total Finalsales

Inven-tory

change

Durable goods

Finalsales

Inven-tory

change

Nondurable goods

Finalsales

Inventorychange

ServicesStruc- Auto

output

1929..

1933..

1939..

1940..

1941..1942..1943..1944..1945..1946..1947..1948..1949..

1950..1951..1952..1953..1954..1955..1956..1957..1958..1959..

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "....

1977:I

1978:IIIIllI V

1979:IIIIllIV....

314.6

222.1

318.8

343.3

398.5460.3530.6568.6560.0476.9468.3487.7490.7

533.5576.5598.5621.8613.7654.8668.8680.9679.5720.4

736.8755.3799.1830.7874.4925.9981.0

1,007.71,051.81,078.8

1,075.31,107.51,171.11,235.01,217.81,202.31,273.01,340.51,399.21,431.1

1,315.71,331.21,353.91,361.3

1,367.81,395.21,407.31,426.6

1,430.61,422.31,433.31,438.4

310.0

226.9

317.2

337.1

386.4455.1530.5570.9563.6464.7468.5482.2495.1

522.9562.8594.2620.3615.8647.1663.0679.4681.3714.0

732.4752.4791.0823.0867.1914.6964.3995.7

1,043.11,068.2

1,071.01,100.91,161.71,218.51,209.91,212.11,266.41,327.41,385.11,421.0

1,304.41,317.81,337.31,350.0

1,351.31,379.61,395.11,414.6

1,418.41,404.11,426.21,435.2

4.6

-4 .9

1.6

6.2

12.05.2

.1- 2 . 3-3 .612.2- . 25.5

-4 .4

10.613.74.31.5

- 2 . 27.75.81.5

- 1 . 86.5

4.42.98.17.87.3

11.316.712.08.7

10.6

4.36.69.4

16.58.0

- 9 . 86.6

13.114.110.2

11.313.416.611.3

16.515.612.212.0

12.318.17.13.2

143.9

97.2

153.9

171.2

197.4221.1263.5286.8279.2238.0236.8244.2239.9

261.5283.1292.3306.9292.2316.3320.9321.8312.0332.5

337.1338.1362.0373.0394.0421.5455.6461.9481.1492.3

483.4491.6526.0569.0554.2538.3578.4615.6639.5652.9

605.0610.6622.5624.2

621.4637.2641.8657.3

658.6647.3651.3654.5

139.3

102.1

152.3

165.0

185.4215.9263.4289.1282.8225.8237.0238.7244.3

250.9269.4288.0305.4294.4308.6315.1320.3313.8326.1

332.8335.2353.8365.2386.7410.2438.9449.9472.4481.7

479.1484.9516.6552.5546.2548.0571.8602.4625.4642.8

593.7597.2605.9612.9

604.9621.6629.6645.3

646.3629.1644.2651.3

4.6

-4 .9

1.6

6.2

12.05.2

.1- 2 . 3- 3 . 612.2- . 25.5

-4 .4

10.613.74.31.5

- 2 . 27.75.81.5

- 1 . 86.5

4.42.98.17.87.3

11.316.712.08.7

10.6

4.36.69.4

16.58.0

- 9 . 86.6

13.114.110.2

11.313.416.611.3

16.515.612.212.0

12.318.17.13.2

40.7

17.6

35.6

43.1

57.576.0

119.3135.9121.960.574.975.676.1

84.492.6

100.6105.9101.7112.9113.5114.6104.8110.6

111.6112.6121.1128.4139.2152.6165.2166.6175.7183.3

179.1181.5202.1225.9222.7219.8233.2248.6261.4270.7

248.5246.9249.9249.0

248.5262.8263.6270.6

275.2265.1272.9269.5

3.5

-2 .1

3.4

8.23.5

.7- 1 . 8-3 .710.81.81.5

-3 .7

6.39.81.81.4

- 3 . 64.23.71.5

- 3 . 43.3

2.9- . 14.43.45.08.0

11.96.45.66.8

.11.86.2

10.65.6

- 7 . 03.78.08.67.6

6.18.59.67.6

11.87.96.38.5

10.813.23.72.7

98.6

84.5

116.7

121.8

127.9140.0144.1153.2161.0165.3162.1163.1168.2

166.5176.8187.4199.5192.7195.7201.6205.6209.0215.5

221.2222.7232.7236.8247.5257.7273.7283.3296.7298.4

300.0303.4314.5326.6323.5328.2338.6353.9364.0372.1

345.2350.3356.0364.0

356.4358.8366.0374.7

371.2364.1371.3381.8

1.1

- 2 . 8

2.8

3.81.7

- . 6- . 5

.11.3

- 2 . 04.0

4.23.92.5

.11.43.52.1

.01.63.2

1.53.03.74.32.33.34.85.63.23.7

4.24.83.25.92.4

-2.72.95.25.52.6

5.24.97.03.7

4.77.65.93.5

1.44.93.4

126.8

110.9

134.6

139.5

157.6192.7240.9263.6261.9199.7186.9190.9197.0

206.0229.0240.6245.5247.0257.6267.2279.3285.6298.0

310.7325.5339.9354.0372.2389.1410.2432.7449.9465.4

477.2491.1510.8531.1546.4560.1582.6604.4630.3649.8

596.2599.6608.2613.8

624.2627.9633.1636.0

645.2647.3652.0654.7

44.0

14.0

30.3

32.6

43.446.426.318.118.939.244.752.553.7

66.064.465.669.474.580.980.779.981.989.9

89.091.797.2

103.8108.1115.3115.2113.1120.9121.1

114.6124.9134.3134.8117.2104.0112.1120.5129.5128.4

114.5121.1123.2123.3

122.1130.1132.4133.3

126.8127.7130.0129.2

12.914.718.9

24.020.418.423.922.931.324.425.820.024.7

26.822.627.530.331.137.436.733.540.640.0

32.542.145.150.640.139.449.955.254.951.5

56.155.354.255.1

53.656.853.056.3

58.152.947.547.5



TABLE B-8.—Cross national product: Receipts and expenditures by major economic groups, 1929-79

[Billions of dollars]

Year or quarter

1929

1933

1939

1940194119421943194419451946-194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

Persons

Disposable personal income

Total1

82.3

45.5

69.9

75.292.0

116.5132.9145.5149.0158.6168.4187.4187.1

205.5224.8236.4250.7255.7273.4291.3306.9317.1336.1

349.4362.9383.9402.8437.0472.2510.4544.5588.1630.4

685.9742.8801.3901.7984.6

1,086.71,184.51,305.11,458.41,623.2

Less-.Inter-estpaidand

trans-fers2

1.9

.7

.9

1.01.1

.8

.7

.8

.91.41.72.12.3

2.72.93.34.04.34.85.65.96.06.5

7.47.78.39.4

10.511.712.613.314.115.6

16.617.318.921.523.423.926.130.235.640.6

Equals:Total

excludinginterestpaid andtransfers

80.4

44.8

69.1

74.391.0

115.6132.1144.6148.0157.3166.7185.3184.9

202.8221.9233.1246.6251.4268.6285.7301.0311.1329.6

342.0355.2375.6393.4426.5460.4497.8531.2574.0614.8

669.4725.5782.4880.2961.3

1,062.71,158.51,274.91,422.81,582.6

Personalcon-

sumptionexpendi-

tures

77.3

45.8

67.0

71.080.888.699.4

108.2119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6979.1

1,089.91,210.01,350.81,509.8

Per-sonalsaving

ordis-

saving(-)

3.1

-1.0

2.1

3.310.227.032.736.528.513.44.9

10.66.7

10.814.816.017.015.614.919.720.621.718.8

17.120.220.418.826.130.333.040.938.135.1

50.657.349.470.371.783.668.665.072 072.8

(

Net receipts

Tax andnontaxreceipts

oraccruals

11.3

9.3

15.4

17.725.032.649.251.253.251.056.958.955.9

69.085.290.194.689.9

101.1109.7116.2115.0129.4

139.5144.8156.7168.5174.0188.3212.3228.2263.4296.3

302.6322.2367.4411.2455.1468.5538.3606.6685 7771.9

Less:Trans-fers,inter-estand

subsi-dies3

1.5

2.5

4.1

4.33.84.24.46.09.9

18.017.118.520.9

22.519.118.319.021.323.025.128.232.633.4

36.140.942.444.146.549.554.962.270.277.8

93.1106.8117.8135.4155.6194.4212.7229.9250 4281.8

Equals:Net

receipts

9.8

6.9

11.3

13.521.228.444.745.243.333.039.940.435.0

46.566.271.875.668.678.184.688.082.496.0

103.4103.9114.3124.4127.5138.9157.4166.0193.2218.5

209.5215.5249.6275.8299.5274.1325.6376.7435 3490.1

lovernmen

Expenditures

Totalexpendi-

tures

10.3

10.7

17.6

18.428.864.093.3

103.092.745.642.550.559.3

61.079.293.9

101.697.098.0

104.5115.3127.6131.0

136.4149.1160.5167.8176.3187.8213.6242.4268.9285.6

311.9340.5370.9404.9458.2532.8574.0626.1686 0757.9

Less:Trans-fers,inter-

fn'dsubsi-dies3

1.5

2.5

4.1

4.33.84.24.46.09.9

18.017.118.520.9

22.519.118.319.021.323.025.128.232.633.4

36.140.942.444.146.549.554.962.270.277.8

93.1106.8117.8135.4155.6194.4212.7229.9250 4281.8

Equals:Pur-

chasesof

goodsand

serv-ices

8.8

8.2

13.5

14.224.959.888.997.082.827.525.532.038.4

38.560.175.682.575.875.079.487.195.097.6

100.3108.2118.0123.7129.8138.4158.7180.2198.7207.9

218.9233.7253.1269.5302.7338.4361.3396.2435 6476.1

Surplusor

deficit(-),

nationalincome

andproduct

accounts

1.0

- 1 . 4

- 2 . 2

- .7- 3 . 8

-31.4-44 .1-51.8-39 .5

5.414.48.4

- 3 . 4

8.06.1

- 3 . 8- 6 . 9- 7 . 1

3.15.2

.9-12.6

- 1 . 6

3.1- 4 . 3- 3 . 8

.7- 2 . 3

.5- 1 . 3

-14.2- 5 . 510.7

- 9 . 4-18 .3

- 3 . 56.3

- 3 . 2-64.4-35.7-19 .5

_ 314.0


212


TABLE B-8.—Gross national product: Receipts and expenditures by major economic groups, 1929-79—

Continued


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

Business

Grossretained

earnings4

11.7

3.2

8.8

10.912.014.816.717.716.015.821.830.031.4

30.834.637.138.041.047.548.751.151.358.5

58.759.867.070.176.284.691.293.798.2

101.7

101.4115.7131.0140.2137.9176.2203.3230.7252.9276.0

Grossprivate

domesticinvest-ment5

16.2

1.4

9.3

13.117.99.95.87.2

10.630.734.045.935.3

53.859.252.153.352.768.471.069.261.977.6

76.474.385.290.296.6

112.0124.5120.8131.5146.2

140.8160.0188.3220.0214.6190.9243.0303.3351.5386.2

Excess ofearnings

or ofinvest-ment( — )

- 4 . 4

1.8

-.5

- 2 . 2- 5 . 8

4.910.910.55.4

-14 .9-12 .1-15 .8

- 3 . 8

- 2 3 . 0-24 .6-15 .1-15 .3-11 .7-20 .8- 2 2 . 3-18 .1-10 .6-19 .0

-17 .7- 1 4 . 5- 1 8 . 2-20 .1- 2 0 . 4-27 .4-33 .3-27 .1- 3 3 . 3-44 .5

-39.5-44.3-57.3-79.8-76.7-14.8-39.7-72.6-98.6

-110.2

International

Nettrans-

fers andinterestpaid toforeign-

ers •

0.4

.2

.2

.2

.2

.2

.2

.3

.82.92.64.55.6

4.03.52.62.52.32.52.52.52.42.6

2.62.83.03.13.23.33.53.73.63.8

4.35.56.57.78.58.58.79.7

13.315.8


Exports

7.0

2.4

4.4

5.45.94.84.45.37.2

14.819.816.915.9

13.918.918.217.118.020.023.926.723.323.7

27.628.930.632.737.439.542.845.649.954.7

62.565.672.7

101.6137.9147.3163.3175.9207.2257.4

services

Less:Imports

5.9

2.0

3.4

3.64.64.86.57.17.87.28.2

10.49.6

12.015.115.816.616.017.819.620.720.823.2

23.223.125.226.428.432.037.740.647.752.9

58.564.075.994.4

131.9126.9155.4185.8217.5260.9

Equals:Netex-

ports

1.1

.4

1.1

1.71.3

.0- 2 . 0- 1 . 8

- .67.6

11.66.56.2

1.93.82.4

.62.02.24.36.12.5

.6

4.45.85.46.38.97.65.14.92.31.8

3.91.6

- 3 . 37.16.0

20.48.0

- 9 . 9- 1 0 3- 3 . 5

Excessof net

transfersand

interestor ofnet

exports( - ) 7

- 0 . 7

- .2

- .9

- 1 . 5- 1 . 1

.22.22.11.4

- 4 . 6- 9 . 0- 2 . 0

- .6

2.1- .3

.21.9

.3

.3- 1 . 8- 3 . 6

- .12.0

-1 .7- 3 . 0- 2 . 4- 3 . 2-5 .7- 4 . 3- 1 . 6- 1 . 2

1.42.0

.33.99.8

.62.5

-11 .9.7

19.623 519.3

Totalincome

orreceipts

102.3

55.1

89.4

98.9124.3159.1193.8207.8208.2208.9231.0260.3257.0

284.1326.2344.5362.8363.3396.8421.5442.6447.2486.7

506.7521.7559.8591.0633.5687.2749.8794.6869.1938.8

984.51,062.11,169.41,303.91,407.11,521.51,696.01,892.02,124.22,364.6

Statis-tical

discrep-ancy

1.1

.7

1.4

1.1.5

- .8- 1 . 8

2.74.1

.71.8

- 1 . 21.0

2.04.02.73.33.02.5

-.8.2

1.7-.2

-.71.64.03.72.2

.93.21.7

-.6- 3 . 3

- 2 . 11.31.72.65.87.46.17.53.34.0


orexpend-

itureiiure

103.4

55.8

90.8

100.0124.9158.3192.0210.5212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7688.1753.0796.3868.5935.5

982.41,063.41,171.11,306.61,412.91,528.81,702.21,899.52,127.62,368.5

1 Personal income less personal tax and nontax payments (fines, penalties, etc.).2 Interest paid by consumers to business and net personal transfer payments to foreigners.3 Government transfer payments to persons and foreigners, net interest paid by government, subsidies less current surplus ofgovernment enterprises, and disbursements less wage accruals.4 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporate capitalconsumption allowances with capital consumption adjustment, and private wage accruals less disbursements.

• See Table B-14.6 Net transfers to foreigners by persons and government and interest paid by government to foreigners.7 Capital grants received by the United States (net) less net foreign investment.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-9.—Gross national product by sector, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 *

19771IIillIV

19781IIIIIIV

19791IIIIIIV P


103.4

55.8

90.8

100.0124.9158.3192.0210.5212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7688.1753.0796.3868.5935.5

982.41,063.41,171.11,306.61,412.91,528.81,702.21,899.52,127.62,368.5

1,820.21,876.01,930.51,971.3

2,011.32,104.22,159.62,235.2

2,292.12,329.82,396.52,455.8

Total

102.6

55.5

90.5

99.6124.5157.9191.6210.1212.0209.0231.8257.9256.9

284.8328.7345.7364.6364.5397.3418.5440.5446.6484.0

503.5520.2560.2591.1631.4683.4748.8791.8863.7931.1

977.81,056.81,164.11,297.51,399.81,518.31,687.71,881.72,107.02,343.3

1,802.91,858.51,911.71,953.8

1,992.02,083.22,138.92,213.9

2,267.92,306.12,369.52,429.7

Total

95.4

49.1

80.6

89.4112.6139.9162.8174.2172.8183.8210.0234.9231.5

257.5294.4307.3324.9323.9354.0372.1390.8393.1427.7

442.5455.3490.4516.5550.7596.6651.1682.7742.2798.1

831.5896.9989.5

1,108.01,193.71,289.21,437.71,609.01,807.82,017.7

1,538.71,590.01,637.41,669.7

1,701.11,787.51,837.61,904.9

1,951.41,984.52,042.02,092.8

Sross domestic product

Business

Ni-mwon-

farm1

84.7

43.8

72.9

81.8103.1127.7149.3156.2152.7164.2188.0212.7211.7

235.5267.4282.5301.2301.3332.8354.3372.3370.7408.9

423.0433.4465.9492.2529.2573.8625.0658.8720.2776.2

807.6867.9955.8

1.055.21,139.91,232.61,385.21,552.21,745.01,944.2

1,481.41,533.51,582.11,612.0

1,641.81,725.81,774.81,837.5

1,880.81,915.21,964.8

Farm

9.7

4.6

6.3

6.58.9

13.015.315.316.018.920.223.318.8

20.022.922.220.319.618.818.618.420.719.1

20.220.220.520.519.322.022.922.222.625.2

25.927.732.050.148.049.246.449.259.569.5

48.247.947.653.2

56.359.458.963.3

70.070.668.968.3

Statis-ticalTICdl

discrep-ancy

1.1

.7

1.4

1.1.5

- .8- 1 . 8

2.74.1

.71.8

- 1 . 21.0

2.04.02.73.33.02.5

- .8.2

1.7- .2

- .71.64.03.72.2

.93.21.7

- .6- 3 . 3

- 2 . 11.31.72.65.87.46.17.53.34.0

9.18.67.74.6

3.02.33.94.1

.6- 1 . 3

8.3

House-holdsand

insti-tutions

2.9

1.7

2.3

2.42.52.93.23.74.14.55.15.65.9

6.46.97.27.88.19.19.8

10.511.412.3

13.814.415.516.617.819.221.123.926.429.2

31.634.737.240.544.850.556.462.669.677.2

60.461.463.265.4

67.368.970.372.1

74.875.877.980.4

Governmeni

Total

4.3

4.7

7.6

7.89.4

15.125.632.235.220.816.717.419.4

20.927.431.231.932.534.236.639.142.144.0

47.150.554.358.062.967.676.585.195.2

103.7

114.7125.2137.4149.1161.4178.6193.5210.1229.6248.4

203.7207.1211.1218.7

223.6226.8231.0237.0

241.8245.8249.6256.6

Federal

0.9

1.2

3.4

3.55.0

10.620.927.229.814.69.48.9

10.0

10.716.218.918.617.818.419.019.620.520.9

21.722.624.125.227.028.332.435.639.341.8

44.746.850.151.954.959.062.466.471.877.0

65.265.365.669.6

70.270.771.574.8

75.575.876.380.6

2

Stateandlocal

3.5

3.5

4.2

4.34.44.54.74.95.46.27.38.59.4

10.111.212.313.314.715.817.619.621.623.1

25.527.930.232.935.939.344.149.555.961.9

70.078.587.397.1

106.5119.6131.2143.7157.8171.4

138.6141.7145.5149.1

153.4156.1159.4162.2

166.3170.0173.3175.9

Restof theworld

0.8

.3

.3

.4

.4

.4

.3

.4

.3

.5

.91.21.1

1.31.51.51.51.82.02.22.32.22.4

2.53.13.63.74.34.74.24.64.84.5

4.66.67.09.1

13.110.514.517.820.525.2

17.417.618.817.5

19.321.020.721.2

24.223.726.926.1

Percentchangefrom

preced-ing

period,gross

domesticproduct3

- 4 . 1

7.0

10.125.026.821.49.6

.9- 1 . 410.911.3- .4

10.915.45.25.5

-.09.05.35.21.48.4

4.03.37.75.56.88.29.65.79.17.8

5.08.1

10.111.57.98.5

11.211.512.011.2

15.012.912.09.1

8.119.611.114.8

10.16.9

11.510.6

1 Includes compensation of employees in government enterprises.2 Compensation of government employees.3 Changes are based on unrounded data and therefore may differ slightly from those obtained from data shown here. See Table B- l

for percent changes in gross national product.



TABLE B-10.—Gross national product by sector in 1972 dollars, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

1979.IIIIIII V


314.6

222.1

318.8

343.3398.5460.3530.6568.6560.0476.9468.3487.7490.7

533.5576.5598.5621.8613.7654.8668.8680.9679.5720.4

736.8755.3799.1830.7874.4925.9981.0

1,007.71,051.81,078.8

1,075.31,107.51,171.11,235.01,217.81,202.31,273.01,340.51,399.21,431.1

1,315.71,331.21,353.91,361.3

1,367.81,395.21,407.31,426.6

1,430.61,422.31,433 31,438.4

Gross domestic product

Total

312.8

220.5

317.7

342.0397.2459.2529.7567.5559.2475.8466.7485.9488.8

531.5574.7596.7619.9611.4652.2666.1678.0676.5717.3

733.6751.2794.3825.8868.7919.9975.6

1,001.91,045.71,073.1

1,069.81,100.31,164.11,227.41,211.01,197.51,266.21,332.91,391.11,423.2

1,308.31,323.61,346.01,353.9

1,359.91,386.81,399.21,418.4

1,421.71,414.21425 31,431.7

Total

271.1

179.7

260.6

282.0326.3361.0385.2403.5397.9384.9392.8411.2409.4

448.6477.2492.8515.6508.0546.5557.2566.0561.9600.5

611.8625.6663.9692.0730.4776.4822.4839.8878.2901.5

898.3927.6989.5

1,050.41,031.21,013.61,079.71,143.71,197.51,227.7

1,120.91,135.61,155.91,162.4

1,167.51,193.61,205.11,223.9

1,226.91,219.01229 31,235.8

Business

hlnnnon-

farm1

244.2

152.1

230.7

253.8299.1336.0363.9372.7366.4362.2370.8387.2382.1

417.9445.9460.7480.6473.4512.5529.3538.7528.2569.6

580.5590.9629.6658.4697.1746.7791.1807.8850.6877.4

871.3894.9955.8

1,013.2993.7975.3

1,039.91,100.71,160.01,190.7

1,079.11,093.51,111.31,118.7

1,126.61,156.21,169.11,188.0

1,193.11,184.71 189 41,195.5

Farm

23.8

25.0

25.3

24.726.328.727.827.325.825.823.925.725.5

26.925.826.327.628.329.228.828.129.328.2

29.529.629.530.029.230.128.529.629.429.9

31.132.832.032.332.233.732.434.434.234.7

32.333.035.936.2

35.734.233.633.2

33.435.134 935.3

PociHKcSIQ-

ual2

3.1

2.6

4.7

3.6.9

- 3 . 8- 6 . 6

3.55.8

- 3 . 0- 1 . 9-1 .7

1.8

3.85.55.77.36.24.8

-.9- .84.42.7

1.85.14.83.64.0

-.42.82.4

- 1 . 8- 5 . 9

- 4 . 2- .11.74.95.34.77.48.73.42.4

9.59.18.77.5

5.33.22.42.7

.4-.8505.0

House-holdsand

insti-tutions

15.6

12.2

15.1

16.115.916.415.215.115.015.116.016.717.3

18.318.718.619.319.421.422.523.124.224.9

26.827.228.329.029.931.132.834.835.936.6

36.336.637.238.138.039.440.742.243.645.0

41.441.742.543.2

43.043.443.944.1

44.444.745 445.7

Government3

Total

26.1

28.7

42.0

43.955.181.8

129.3149.0146.275.857.958.062.2

64.678.885.385.083.984.486.588.990.491.8

94.998.5

102.1104.8108.4112.4120.4127.2131.7135.0

135.2136.0137.4138.9141.9144.4145.8147.0149.9150.5

146.0146.2147.6148.3

149.4149.8150.2150.4

150.4150.5150 6150.3

Federal

5.2

6.6

16.9

18.629.656.7

105.0125.2121.849.729.829.231.3

32.746.251.649.647.245.945.645.844.544.5

45.246.248.348.248.548.753.057.258.158.2

55.252.550.148.348.648.548.548.749.149.1

48.648.648.748.7

48.949.049.249.3

49.249.149 249.0

Stateandlocal

20.9

22.0

25.1

25.325.525.024.423.824.526.128.128.830.9

31.932.633.735.536.738.440.843.145.847.3

49.752.353.956.660.063.667.570.073.676.8

80.183.587.390.693.396.097.398.4

100.8101.3

97.497.698.899.5

100.5100.8100.9101.1

101.2101.41015101.2

Restof theworld

1.9

1.6

1.2

1.31.21.11.01.0.8

1.11.61.81.9

1.91.81.82.02.32.52.72.93.03.2

3.24.14.84.95.76.15.45.86.15.7

5.57.27.07.66.84.96.87.68.17.9

7.47.67.97.4

7.88.48.18.1

8.98.1806.7

Percentchangefrom

preced-ing

period,gross

domesticproduct4

- 2 . 2

7.7

7.716.115.615.47.2

-1 .5-14.9

-1 .94.1.6

8.78.13.83.9

-1 .46.72.11.8

_ 2

6!o2.32.45.74.05.25.96.12.74.42.6

- .32.85.85.4

- 1 . 3- 1 . 1

5.75.34.42.3

8.84.76.92.4

1.88.13.65.6

.9-2 .1

321.8

1 Includes compensation of employees in government enterprises.2 The difference between gross product in 1972 dollars measured as the sum of final products and that measured as the sum of

gross product by industry.3 Compensation of government employees.4 Changes are based on unrounded data and therefore may differ slightly from those obtained from data shown here. See Table B-2

for percent changes in gross national product in 1972 dollars.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-ll .—Gross domestic product of nonfinancial corporate business, 1929-79


Year orquarter

1929..

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

1977:1IIIllIV

1978:IIIIllIV

1979:1IIIllIV "

Grossdomes-

ticproduct

ofnon-

financialcorpo-ratebusi-ness

50.1

24.4

43.7

50.465.682.998.7

102.195.399.3

120.0137.3133.5

151.9174.5182.3195.0191.9216.7231.6242.3236.3265.7

277.3284.5311.0330.9357.6392.1430.7452.9498.4541.8

560.6602.5671.0752.0808.8874.1988.0

1,106.31,246.91,388.3

1.054.61.093.31,128.91,148.6

116911,236.51,267.91,314.1

1,346.41,370.41,401.3

Capitalconsump-

tionallow-anceswith

capitalconsump-

tionadjust-ment

5.4

4.2

4.7

4.85.36.06.16.26.47.39.1

10.711.6

12.614.615.717.017.919.221.523.724.926.0

27.027.828.729.831.032.835.739.343.047.8

53.158.262.668.780.896.8

106.8116.0126.9140.8

111.7114.5117.5120.5

123 2125.8128.2130.5

133.4138.4143.4148.0

Net domestic product

Total

44.7

20.2

39.1

45.660.477.092.695.988.992.1

110.9126.5121.9

139.3159.9166.7178.1174.1197.5210.1218.5211.4239.7

250.3256.7282.3301.1326.6359.3394.9413.6455.4494.0

507.5544.2608.4683.3728.0777.3881.2990.3

1,120.01,247.5

942.9978.8

1,011.41,028.1

1045 81,110.81,139.71,183.5

1,213.01,232.01,257.9

Indi-rectbusi-nesstax,

etc.1

3.4

3.8

5.1

5.56.46.87.38.18.9

10.111.212.112.6

14.115.216.818.217.419.220.822.422.825.4

28.330.133.035.638.441.142.945.851.657.1

61.868.273.580.585.792.699.8

107.8117.2126.3

104.9106.3109.1111.1

113 2117.4117.5120.7

122.8124.2127.6130.7

Domestic income

Total

41.3

16.4

34.0

40.153.970.185.387.880.081.999.8

114.4109.3

125.2144.7149.8159.9156.6178.3189.2196.2188.6214.4

222.0226.5249.2265.6288.3318.2352.0367.9403.8437.0

445.7476.0534.8602.8642.3684.6781.5882.5

1,002.71,121.2

838.1872.5902.4917.0

932 6993.4

1,022.21,062.8

1,090.21,107.81,130.31,156.4

Compen-sation

ofemploy-

ees

32.3

16.7

28.2

31.239.851.062.265.161.967.279.187.885.3

94.7110.2118.3128.7126.5138.5151.4159.1155.9171.6

181.1185.1199.8210.7226.3246.1273.5291.9321.6357.4

377.1399.4443.8503.8552.9576.9650.2732.6834.7940.7

700.5723.6742.8763.4

791 4824.6846.5876.5

910.0928.4949.7974.5

Corporate profits with inventory valuation and capitalconsumption adjustments

Total

7.6

- 2 . 0

4.3

7.512.817.922.021.717.214.119.925.823.0

29.633.430.329.928.638.236.135.030.139.7

37.437.444.950.056.766.171.267.272.166.4

51.658.772.076.059.576.9

100.9116.5128.3133.3

106.2116.4125.5117.8

104 3130.0135.1143.8

135.9133.9132.3

Total

8.4

.6

6.1

8.816.420.123.622.217.822.029.131.824.9

38.539.133.834.932.142.041.839.833.743.1

39.539.243.748.354.664.4(39.565.471.968.4

55.163.375.992.7

102.9101.3130.0143.5166.1190.8

137.4143.5145.4147.5

140 2167.3171.3185.7

189.5184.2192.7

Profits before tax

Prof-itstaxlia-

bility

1.2

.5

1.4

2.77.5

11.213.812.610.28.6

10.811.89.3

16.921.217.818.515.620.220.119.116.220.7

19.219.520.622.824.027.229.521.133.633.3

27.329.933.539.642.740.652.559.668.875.4

57.459.960.260.9

56 569.571.277.9

74.771.876.3

Profits after tax

Total

7.3

.1

4.7

6.19.08.99.89.67.6

13.418.320.015.6

21.617.916.016.416.421.821.820.717.522.3

20.319.723.125.530.737.240.037.738.335.1

27.933.342.453.160.260.777.483.897.4

115.5

80.083.685.186.6

83 897.8

100.1107.8

114.8112.5116.3

Divi-dends

5.2

2.0

3.3

3.64.03.84.04.24.25.15.96.56.5

7.97.87.88.08.29.4

10.110.410.210.8

11.511.712.714.115.317.218.118.920.720.7

19.920.021.723.926.028.533.137.241.847.2

35.636.637.639.1

40 440.042.844.1

46.247.346.348 8

Undis-tributedprofits

2.0

- 1 . 9

1.4

2.54.95.15.75.43.48.3

12.413.59.1

13.610.18.18.48.2

12.411.610.37.3

11.5

8.78.0

10.311.415.420.021.918.817.614.4

8.013.320.729.234.232.244.346.655.568.3

44.547.047.547.5

43 357.757.363.7

68.665.270.0

Inven-tory

valua-tion

adjust-ment

0.5

- 2 . 1

- .7

_ 2-2^5- 1 . 2- .8- .3- .6

- 5 . 3- 5 . 9- 2 . 2

1.9

- 5 . 0- 1 . 2

1.0- 1 . 0- .3

- 1 . 7- 2 . 7- 1 . 5- .3- .5

.3

.1

.1- .2_ 5

-L9- 2 . 1- 1 . 7- 3 . 4- 5 . 5

- 5 . 1- 5 . 0- 6 . 6

-18 .6-40.4-12.4-14 .6-15 .2-25.2-41 .9

-18 .7-15.9

- 8 . 9-17.0

- 2 3 9-25 .1-23 .0-28 .8

-39 .9-36 .6-44 .0-46 .9

Panitali>apiiai

consump-tion

adjust-ment

- 1 . 3

- .5

- 1 . 0

- 1 . 1- 1 . 1- 1 . 0- .8- .2- .1

- 2 . 7- 3 . 3- 3 . 9- 3 . 8

- 3 . 9- 4 . 5- 4 . 4- 4 . 0- 3 . 2- 2 . 1- 3 . 0- 3 . 3- 3 . 4- 2 . 9

- 2 . 3- 1 . 8

1.01.92.63.63.83.63.63.5

1.5.5

2.71.8

- 3 . 0-11 .9-14.4-11 .8-12 .6-15 .6

-12 .5-11.2-10 .9-12.7

— 12 1-12 .1-13 .2-13 .1

-13 .6-13 .8-16 .4-18 .7

Netinter-est

1.4

1.7

1.5

1.41.31.31.11.01.0.7.8.9

1.0

.91.11.21.31.61.61.72.22.73.1

3.53.94.54.85.36.17.48.7

10.113.1

17.017.919.123.129.930.830.433.439.747.2

31.432.534.035.8

37 038.840.642.4

44.245.548.350.7

1 Indirect business tax and nontax liability plus business transfer payments less subsidies.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-12.—Output, costs, and profits of nonfinancial corporate business, 1948-79

[Quarterly data at seasonally adjusted annual rates]

Year or quarter

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979"

19771IIIIIIV

19781IIIIIIV

19791IIIII

Gross domesticproduct of

nonfinancialcorporate

business (billionsof dollars)

Currentdollars

137.3133.5

151.9174.5182 3195.0191.9

216.72316242.3236.3265.7

277.3284.5311.0330.9357.6

392.1430.7452.9498.4541.8

560.6602.5671.0752.0808.8

874.1988.0

1,106.31,246.91,388.3

1,054.61,093.31,128.91,148.6

1,169.11,236.51,267.91,314.1

1,346.41,370.41,401.3

1972dollars

229.7219.9

247.5270.2275 2292.0283 5

315.13241328.3313.4347.3

358.9366.7399.7425.4455.2

494.6532.9545.8581.6607.3

600.6619.3671.0720.4695.0

680.0730.4770.7818.7844.0

755.2766.1778.5782.9

789.8817.1826.3841.4

846.6841.0842.4

Current-dollar cost and profit per unit of output (dollars)l

Totalcostand

profit2

0.598.607

.614

.646663.668.677

.688715

.738

.754

.765

.773

.776

.778

.778

.786

.793

.808

.830

.857

.892

.933

.9731.0001.0441.164

1.2851.3531.4361.5231.645

1.3961.4271.4501.467

1.4801.5131.5351.562

1.5901.6291.664

Capitalcon-

sumptionallow-anceswith

capitalcon-

sumptionadjust-ment

0.047.053

.051

.054

.057

.058

.063

.061

.066

.072

.080

.075

.075

.076

.072

.070

.068

.066

.067

.072

.074

.079

.088

.094

.093

.095

.116

.142

.146

.151

.155

.167

.148

.149

.151

.154

.156

.154

.155

.155

.158

.165

.170

Indirectbusi-nesstax,

etc.3

0.053.057

.057

.056

.061

.062

.061

.061064.068.073.073

.079

.082

.083

.084

.084

.083

.080

.084

.089

.094

.103

.110

.110

.112

.123

.136

.137

.140

.143

.150

.139

.139

.140

.142

.143

.144

.142

.143

.145

.148

.151

Compen-sation

ofemploy-

ees

0.382.388

.383

.408

.430

.441

.446

.439

.467

.484

.497

.494

.505

.505

.500

.495

.497

.497

.513

.535

.553

.589

.628

.645

.661

.699

.796

.848

.890

.9511.0201.114

.928

.945

.954

.975

1.0021.0091.0241.042

1.0751.1041.127

Netinterest

0.004.004

.004

.004

.004

.004

.006

.005

.005

.007

.009

.009

.010

.011

.011

.011

.012

.012

.014

.016

.017

.022

.028

.029

.028

.032

.043

.045

.042

.043

.048

.056

.042

.042

.044

.046

.047

.047

.049

.050

.052

.054

.057

Corporate profits withinventory valuation and

capital consumptionadjustments

Total

0.112.105

.120

.124

.110

.102

.101

.121112

.106

.096

.114

.104

.102

.112

.118

.125

.134

.134

.123

.124

.109

.086

.095

.107

.105

.086

.113

.138

.151

.157

.158

.141

.152

.161

.150

.132

.159

.163

.171

.161

.159

.157

Profitstax

liability

0.051.042

.068

.079065.063055

.064062.058.052.060

.053

.053

.052

.054

.053

.055

.055

.051

.058

.055

.045

.048

.050

.055

.061

.060

.072

.077

.084

.089

.076

.078

.077

.078

.071

.085

.086

.093

.088

.085

.091

Profitsaftertax4

0.061.062

.051

.045046.039.046

.057050.048.044.055

.051

.049

.061

.064

.072

.079

.078

.072

.066

.055

.041

.046

.057

.050

.024

.053

.066

.074

.073

.069

.065

.074

.084

.073

.061

.074

.077

.078

.072

.074

.066

Output

u p e r thour of

allemploy-

ees(1972

dollars)

5.2015.428

5.5395.7155.9926.2386.475

6.6856.8286.9067.1337.154

7.1477.3897.6317.7907.492

7.7267.9738.0648.142

8.0638.0428.1108.059

8.0568.1388.1798.201

8.1598.1008.095

Compen-sation

per hourof all

employ-ees

(dollars)

2.5872.682

2.7952.8852.9963.0893.218

3.3253.5043.6943.9444.207

4.4874.7665.0475.4475.961

6.5547.0987.6668.302

7.4807.5967.7387.859

8.0718.2128.3798.544

8.7708.9419.127

1 Output is measured by gross domestic product of nonfinancial corporate business in 1972 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two

places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).


TABLE B-13.—Personal consumption expenditures, 1929-79


Year orquarter

Personalcon-

sumptionexpendi-

tures

Durable goods1

Total

Motorvehicles

andparts

Furni-tureand

house-hold

equip-ment

Nondurable goods1

Total Food

Cloth-ingand

shoes

Gaso-lineand

Fueloilandcoal

Services1

TotalHous-ing2

Householdoperationx

TotalElec-tricityandgas

Transpor-tation

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 P

1977:IIIIllIV

1978:IIIIllIV

1979:IIIIllIV P

77.3

45.8

67.0

71.080.888.699.4108.2119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6979.1

1,089.91,210.01,350.81,509.8

1,169.11,190.51,220.61,259.7

1,287.21,331,21,369.31,415.4

1,454.21,475.91,528.61,580.4

9.2

3.5

6.7

7.89.76.96.56.78.015.820.422.925.0

30.829.829.132.531.838.637.939.336.842.4

43.141.646.751.456.362.867.769.680.085.5

84.997.1111.2123.7122.0132.6157.4178.8200.3212.8

174.3175.7178.9186.4

185.3200.3203.5212.1

213.8208.7213.4215.5

1.04.16.68.0

10.6

13.712.211.313.913.017.815.817.214.818.9

19.717.821.524.426.029.830.129.735.837.7

34.943.850.655.248.053.470.081.691.291.3

81.780.680.583.7

84.193.592.494.9

97.789.189.888.6

4.7

1.9

3.4

3.84.84.63.93.84.58.4

10.611.511.3

13.714.014.014.614.616.217.116.916.617.8

17.717.918.920.322.824.727.729.532.635.0

36.739.444.850.754.958.064.070.977.685.7

68.169.871.674.0

72.476.578.982.7

82.184.287.389.4

37.7

22.3

35.1

37.042.950.858.664.371.982.790.996.694.9

98.2108.8113.9116.5118.0122.9128.9135.2139.8146.4

151.1155.3161.6167.1176.9188.6204.7212.6230.4247.0

264.7277.7299.3333.8376.3408.9443.9481.3530.6597.0

467.7475.5483.0499.2

505.9521.8536.7558.1

571.1581.2604.7631.0

19.5

11.5

19.1

20.223.428.433.236.740.647.452.354.252.5

53.960.463.464.465.467.269.973.676.479.1

81.183.285.587.892.798.9

106.6109.6118.3126.1

136.3140.6150.4168.1189.8209.6227.1246.7271.7301.9

283.8245.8248.0254.4

260.6267.7274.5283.9

292.9296.7303.1315.1

9.4

4.6

7.1

7.58.8

11.013.414.616.518.218.820.119.3

19.621.221.922.122.123.124.124.324.726.1

26.727.428.729.531.933.536.638.241.845.1

46.650.555.161.365.370.175.982.491.299.6

79.279.782.887.9

85.489.992.796.8

95.596.9

101.0105.0

1.8

1.5

2.2

2.32.62.11.31.41.83.44.04.85.3

5.56.16.87.47.88.69.4

10.210.611.3

12.012.012.612.913.514.716.017.018.420.4

22.023.424.927.836.439.542.946.750.965.1

46.546.646.447.3

48.149.051.555.0

58.460.268.373.4

5.45.56.37.79.6

10.212.013.114.018.3

13.412.813.013.1

14.614.413.413.6

15.417.220.420.0

30.3

20.1

25.2

26.228.231.034.337.139.645.350.455.358.2

63.068.574.080.686.192.199.2

105.9112.8121.9

130.7138.1147.0156.1167.1178.7192.4208.1225.6247.2

269.1293.4322.4352.3391.3437.5488.5549.8619.8700.0

527.1539.3558.7574.1

596.0609.1629.1645.1

669.3686.0710.6733.9

11.7

8.1

9.4

9.710.411.211.812.312.814.216.017.919.6

21.724.327.029.832.234.336.739.342.045.0

48.151.254.758.061.465.569.574.179.986.8

94.0102.7112.3123.2136.5150.2166.2187.3212.2241.6

178.7184.3190.0196.1

202.5209.0215.0222.1

229.5236.3244.9255.7

4.0

2.8

3.8

4.04.34.85.25.96.46.87.58.18.5

9.510.411.112.012.614.015.216.217.318.5

20.121.022.223.424.826.328.030.632.735.5

38.341.645.950.256.164.572.882.091.4

102.0

80.678.784.084.8

90.488.992.593.7

99.199.7

103.5105.6

1.2

1.1

1.4

1.51.51.61.71.81.92.12.32.62.9

3.33.74.14.55.05.56.16.57.17.6

8.38.89.49.9

10.410.911.512.213.114.2

15.517.018.920.624.129.333.038.342.648.8

38.435.739.839.3

43.440.842.843.4

47.747.349.650.5

2.6

1.5

2.0

2.12.42.73.43.74.05.05.35.85.9

6.26.77.17.87.98.28.69.09.3

10.1

10.711.211.712.212.813.715.016.217.418.9

21.123.826.027.930.732.637.943.649.255.8

40.642.944.446.6

47.648.649.750.8

52.954.556.858.9

1 Total includes "other" category, not shown separately.2 Includes imputed rental value of owner-occupied dwellings.



TABLE B-14.—Gross private domestic investment, 1929-79


Year or quarter

1929

1933.

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 p

1977:1IIIIIIV

1978:1IIIIIIV

1979-1IIIIIIV

Grossprivate

domesticinvest-ment

16.2

1.4

9.3

13.117.99.95.87.2

10.630.734.045.935.3

53.859.252.153.352.768.471.069.261.977.6

76.474.385.290.296.6

112.0124.5120.8131.5146.2

140.8160.0188.3220.0214.6190.9243.0303.3351.5386.2

280.4300.0315.7316.9

327.0352.3356.2370.5

373.8395.4392.3383.3

Fixed investment

Total

14.5

3.0

8.8

10.913.48.16.48.1

11.724.334.441.138.4

47.048.949.052.954.362.466.367.963.472.3

72.772.178.784.290.8

102.5110.2110.7123.8136.8

137.0153.6178.8202.1205.7201.6233.0281.3329.1367.8

261.1277.5288.2298.5

304.1326.5336.1349.8

354.6361.9377.8376.9

Nonresidential

Total

10.5

2.4

5.8

7.59.46.05.06.8

10.116.822.926.224.3

27.131.131.234.334.038.343.746.741.645.3

47.747.151.253.659.771.381.482.189.398.9

100.5104.1116.8136.0150.6150.2164.9189.4221.1253.9

179.8186.1193.2198.6

203.7218.8225.9236.1

243.4249.1261.8261.3

Structures

Total

5.0

.9

2.0

2.32.91.91.31.82.86.87.68.98.6

9.311.311.512.813.214.417.418.116.717.0

18.218.419.419.621.526.129.229.531.635.7

37.739.342.549.054.553.857.362.676.592.3

58.162.164.266.2

66.975.279.784.4

84.990.595.098.7

Non-farm

4.8

.9

1.9

2.22.81.81.21.72.66.16.88.17.8

8.610.510.612.012.413.716.617.416.016.1

17.317.518.518.620.525.128.128.230.434.3

36.137.841.146.951.851.354.759.873.388.6

55.559.261.263.3

63.872.076.481.1

81.286.891.494.9

Producers'durable

equipment

Total

5.5

1.4

3.9

5.26.44.13.75.07.39.9

15.317.315.7

17.819.919.721.520.823.926.328.624.928.3

29.528.731.834.038.245.152.252.657.763.3

62.864.774.387.096.296.4

107.6126.8144.6161.6

121.7124.1129.0132.4

136.8143.6146.3151.8

158.5158.6166.7162.6

Non-farm

4.8

1.3

3.3

4.55.53.53.24.26.39.0

13.414.712.8

14.916.917.118.718.421.324.126.221.925.2

27.026.128.930.634.641.247.948.053.458.9

58.159.969.180.188.287.497.4

116.3132.6147.3

110.9113.6118.8121.8

126.4131.9133.5138.9

146.1144.5150.0148.5

Residential

Total

4.0

.6

3.0

3.54.02.21.41.31.67.5

11.515.014.1

19.917.717.818.620.324.122.621.221.827.0

25.025.027.430.631.231.228.728.634.537.9

36.649.662.066.155.151.568.191.9

108.0113.9

81.391.495.099.9

100.5107.7110.2113.7

111.2112.9116.0115.6

Non-farmstruc-tures

3.8

.5

2.8

3.23.71.91.21.11.46.8

10.513.812.9

18.716.616.617.519.223.021.420.020.725.8

» 23.923.826.329.429.929.927.427.233.136.3

35.147.960.364.352.749.565.788.8

104.4110.0

78.388.391.797.0

96.8104.3106.4110.0

107.8109.1112.0111.2

Farmstruc-tures

0.2

.0

.1

.2

.2

.2

.2

.1

.1

.5

.7

.9

.8

.8

.8

.8

.8

.7

.6

.7

.7

.7

.7

.6

.7

.6

.7

.7

.6

.7

.7

.6

.7

.6

.7

.7

.61.2.9

1.11.51.81.9

1.61.61.61.2

1.91.41.91.9

1.51.82.02.3


0.1

.0

.1

.1

.1

.1

.0

.0

.0

.2

.3

.3

.3

.4

.4

.4

.4

.4

.4

.5

.5

.5

.6

.5

.5

.5

.6

.6

.7

.7

.7

.8

.9

.91.01.11.21.21.11.31.61.92.0

1.51.51.61.7

1.92.01.91.9

1.92.02.02.1

Change inbusiness

inventories

Total

1.7

- 1 . 6

.4

2.24.51.8

- .6- 1 . 0- 1 . 0

6.4- .54.7

- 3 . 1

6.810.33.1

.4- 1 . 5

6.04.71.3

- 1 . 55.2

3.82.26.56.05.89.5

14.310.17.79.4

3.86.49.4

17.98.9

-10.710.021.922.318.4

19.322.527.518.5

22.825.820.020.6

19.133.414.56.4

Non-farm

1.8

- 1 . 4

.3

1.94.0

.7-.6- .6-.66.41.33.0

- 2 . 2

6.09.12.11.1

- 2 . 15.55.1

.8- 2 . 3

5.3

3.51.95.85.26.48.5

14.59.47.69.2

3.75.18.8

14.710.8

-14 .312.120.721.316.6

20.121.525.615.7

22.025.318.519.3

18.832.612.62.3



TABLE B-15.—Inventories and final sales of business, 1946-79

[Billions of dollars, except as noted; seasonally adjusted]

Year and quarter

Fourth quarter:1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979".

1977:1IIIIIIV

1978:1IIIIIIV

19791IIIIIIV P

Total

73.786.990.681.0

98.8112.1109.4110.1107.2

112.1121.8126.7128.9132.3

136.2138.4145.2151.5157.6

172.7189.1202.2215.3236.2

244.2261.9288.6355.8425.6

428.3460.5506.0586.9684.3

474.6479.2490.1506.0

526.4544.7563.2586.9

613.4635.1662.9684.3

Farm

21.825 823.419.5

24.226.523.121.620.5

17.618.320.924.923.6

24.825.026.626.925.7

29.728.929.230.433.4

31.736.844.666.261.9

64.360.861.576.781.8

61.557.657.161.5

66.169.071.576.7

79.881.279.981.8

Inventories1

Total

51.961167.261.4

74.685.686.388.586.7

94.6103.5105.8103.9108.7

111.3113.4118.6124.6131.8

143.0160.2173.0184.9202.8

212.5225.1243.9289.6363.7

364.0399.7444.5510.2602.5

413.0421.6433.0444.5

460.3475.7491.7510.2

533.5553.9583.0602.5

Nonfarm

Manufac-turing

26.731.834.831.0

37.446.247.349.347.0

51.457.557.956.057.5

58.159.562.564.868.5

73.783.491.197.4

107.1

110.8113.6120.4143.6186.4

187.9203.9222.5253.7305.3

208.7213.2217.4222.5

230.3237.0245.5253.7

267.4277.7294.4305.3

Whole-sale

trade

9.610.612.111.7

14.314.914.915.115.4

16.717.818.118.119.2

19.620.220.922.423.6

25.328.630.632.435.3

38.341.245.755.269.8

68.176.686.4

102.0118.6

80.281.083.486.4

90.994.297.1

102.0

106.9111.0116.3118.6

Retailtrade

11.914.115.314.3

17.718.317.918.518.7

20.921.822.922.924.1

25.625.126.728.229.8

33.136.637.840.744.4

45.651.055.964.472.3

72.180.591.6

105.4118.7

83.685.788.991.6

95.098.8

102.0105.4

107.6111.6114.5118.7

Other

3.74.64.94.4

5.26.26.25.55.6

5.66.46.96.98.0

8.18.78.69.29.9

10.911.613.514.416.1

17.719.221.826.435.2

35.938.844.149.159.9

40.541.743.244.1

44.145.747.049.1

51.653.557.859.9

Finalsales2

192.0219.6235.7234.6

259.8295.6313.3325.8330.1

356.5377.0392.7405.0426.7

442.1465.3492.7524.2553.1

610.7647.5688.0757.6804.5

839.4915.2

1,019.91,120.51,216.0

1,355.11,480.91,651.31,884.32,086.5

1,519.51,567.61,609.91,651.3

1,678.31,761.71,817.61,884.3

1,932.21,951.12,027.52,086.5

Inventory—finalsales ratio

Total

0.384.396.384.345

.380

.379

.349

.338

.325

.315

.323

.323

.318

.310

.308

.297

.295

.289

.285

.283

.292

.294

.284

.294

.291

.286

.283

.318

.350

.316

.311

.306

.311

.328

.312

.306

.304

.306

.314

.309

.310

.311

.317

.325

.327

.328

Non-farm3

0.270.278.285.262

.287

.290

.275

.272

.263

.265

.274

.269

.257

.255

.252

.244

.241

.238

.238

.234

.247

.251

.244

.252

.253

.246

.239

.258

.299

.269

.270

.269

.271

.289

.272

.269

.269

.269

.274

.270

.271

.271

.276

.284

.288

.289

1 End of quarter.2 Annual rates.3 Ratio based on total final sales, which include a small amount of final sales by farms.Note.—The industry classification of inventories is on an establishment basis and is based on the 1972 Standard Industrial

Classification (SIC) beginning in 1948 and on the 1942 SIC prior to 1948.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-16.—Inventories and final sales of business in 1972 dollars, 1947-79

[Billions of 1972 dollars, except as noted; seasonally adjusted]

Year and quarter

Fourth quarter:19471948 ....1949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 p.

1977:1IIIIIIV

1978.1IIIIIIV

1979:1IIIIIIV

Inventories1

Total

118.6124.1119.7

130.2143.9148.2149.7147.5

155.3161.1162.6160.8167.2

171.6174.5182.6190.4197.7

209.0225.7237.7246.4257.0

261.3267.9277.4293.9301.8

292.1298.7311.8325.9336.1

301.5304.8309.0311.8

315.9319.8322.9325.9

328.9333.5335.3336.1

Farm

25.726 726.2

27.529.130.430.231.1

31.530.731.432.432.4

32.833.234.535.735.1

36.236.036.837.037.3

37.739.239.842.141.8

43.041.141.041.342.3

40.740.740.741.0

41.041.041.241.3

41.441.541.742.3

Nonfarm

Total

93.097.393.5

102.7114.8117.9119.6116.5

123.7130.3131.2128.4134.8

138.8141.2148.1154.7162.6

172.8189.7200.9209.4219.7

223.6228.8237.6251.8260.1

249.1257.6270.8284.6293.8

260.8264.2268.2270.8

274.9278.8281.7284.6

287.6292.0293.5293.8

Manufac-turing

49.951.348.6

51.862.565.266.963.3

66.771.671.168.671.1

72.474.278.480.884.7

89.199.0

105.9110.7115.8

117.1115.4117.5123.6128.6

124.2126.8131.0136.3143.5

127.6129.3130.4131.0

132.6134.3135.6136.3

138.4141.1142.5143.5

Whole-sale

trade

13.816.116.1

18.318.919.219.419.7

21.422.021.921.823.7

24.325.025.927.829.1

30.533.735.536.638.2

40.442.044.447.450.6

47.250.353.758.259.5

51.451.852.853.7

55.556.356.858.2

59.359.460.059.5

Retailtrade

20.521.320.9

23.923.923.924.524.6

27.227.528.428.229.6

31.530.632.534.136.0

39.442.743.145.347.7

47.351.954.458.256.5

54.056.861.664.865.1

57.959.060.661.6

62.663.564.464.8

64.465.865.365.1

Other

8.78.67.8

8.79.59.68.78.8

8.49.29.89.8

10.5

10.711.411.412.012.8

13.814.316.316.818.0

18.819.521.322.724.5

23.623.624.525.325.8

23.824.124.424.5

24.324.724.925.3

25.525.725.725.8

Finalsales2 '

i

397.2412.0415.1 |

442.6476.5499.1516.2517.0

547.4557.6565.3577.2596.8

609.0636.6664.2699.3730.7

791.3809.2837.2882.8892.2

891.7935.0

1,007.61,031.81,005.3

1,043.31,092.71,151.21,212.01,232.6

1,109.61,122.21,139.31,151.2

1.151.01,178.01,192.91,212.0

1,214.61,200.91,222.21,232.6

Inventory—finalsales ratio

Total

0.299.301.288

.294

.302

.297

.290

.285

.284

.289

.288

.279

.280

.282

.274

.275

.272

.271

.264

.279

.284

.279

.288

.293

.287

.275

.285

.300

.280

.273

.271

.269

.273

.272

.272

.271

.271

.274

.271

.271

.269

.271

.278

.274

.273

Non-farm3

0.234.236.225

.232

.241

.236

.232

.225

.226

.234

.232

.222

.226

.228

.221

.223

.221

.223

.218

.234

.240

.237

.246

.251

.245

.236

.244

.259

.239

.236

.235

.235

.238

.235

.235

.235

.235

.239

.237

.236

.235

.237

.243

.240

.238

1 End of quarter.2 Annual rates.3 Ratio based on total final sales, which include a small amount of final sales by farms.

Note.—The industry classification of inventories is on an establishment basis and is based on the 1972 Standard IndustrialClassification (SIC) beginning in 1948 and on the 1942 SIC prior to 1948.


221291-289 O - 80 - 15


TABLE B-17.—Relation of gross na^ onal product and national income, 1929-79


Year or quarter

1929 . .

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 p

1977:1IIIIIIV

19781IIIIIIV

1979:1IIIIIIV P


103.4

55.8

90.8

100.0124.9158.3192.0210.5212.3209.6232.8259.1258.0

286.2330.2347.2366.1366.3399.3420.7442.8448.9486.5

506.0523.3563.8594.7635.7688.1753.0796.3868.5935.5

982.41,063.41,171.11,306.61,412.91,528.81,702.21,899.52,127.62,368.5

1,820.21,876.01,930.51,971.3

2,011.32,104.22,159.62,235.2

2,292.12,329.82,396.52,455.8

Less:

Capitalconsump-

tionallowances

withcapital

consump-tion

adjustment

9.7

7.5

8.7

9.010.011.211.51' 3U.313.817.220.322.0

23.927.629.631.633.135.338.942.044.146.1

47.749.150.552.254.657.561.767.073.882.5

90.898.8

105.4117.7137.7162.0177.8195.4216.9243.0

186.9191.9198.7204.3

209.1214.4219.6224.6

229.9239.0247.9255.1

Equals:Net

nationalproduct

93.7

48.3

82.1

91.0114.9147.1180.5198.7200.0195.7215.6238.8236.1

262.3302.6317.6334.5333.2364.0381.8400.8404.8440.4

458.3474.2513.3542.5581.2630.6691.3729.3794.7853.1

891.6964.7

1,065.81,188.91,275.21,366.91,524.41,704.11,910.72,125.6

1,633.31,684.11,731.81,767.0

1,802.21,889.81,940.02,010.6

2,062.22,090.82,148.52,200.8

PIUS:

Subsidiesless

currentsurplus

ofgovern-

mententer-prises

- 0 . 2

- .0

.4

.4

.1

.1

.1

.6

.7

.9- .2-.1- .3

.1-.1- .3- .5- .3- .0

.7

.71.1

.1

.41.71.81.11.71.62.51.61.31.8

2.72.43.63.91.02.31.03.14.22.3

1.51.22.86.8

4.34.62.85.1

1.82.63.21.5

Less:

Indirectbusinesstax andnontaxliability

7.1

7.1

9.4

10.111.311.812.814.215.517.118.420.121.3

23.425.327.729.729.632.235.137.538.741.8

45.448.051.654.658.862.665.370.278.886.4

94.0103.4111.0120.2128.6139.2151.4165.1178.1189.5

160.1162.7166.9170.6

173.6179.3177.2182.1

184.8186.9191.1195.2

Busi-ness

transfernav-

ments

0.6

.7

.5

.4

.5

.5

.5

.5

.5

.5

.6

.7

.8

.8

.91.01.21.11.21.41.51.61.8

2.02.02.12.42.72.83.03.13.43.8

4.04.24.75.45.97.68.08.79.2

10.2

8.68.78.98.9

8.99.09.29.5

9.69.9

10.410.8

Statis-tical

discrep-ancy

1.1

.7

1.4

1.1.5

-.8- 1 . 8

2.74.1

.71.8

- 1 . 21.0

2.04.02.73.33.02.5

-.8.2

1.7_ 2

- .71.64.03.72.2

.93.21.7

-.6- 3 . 3

- 2 . 11.31.72.65.87.46.17.53.34.0

9.18.67.74.6

3.02.33.94.1

.6- 1 . 3

8.3

Equals:Nationalincome

84.8

39.9

71.3

79.7102.6135.7169.1181.9180.6178.3194.6219.0212.7

236.2272.3285.8299.7299.1328.0346.9362.3364.0397.1

412.0424.2457.4482.8519.2566.0622.2655.8714.4767.9

798.4858.1951.9

1,064.61,136.01,215.01,359.81,525.81,724.31,924.2

1,456.91,505.31,551.11,589.8

1,621.01,703.91,752.51,820.0

1,869.01,897.91,941.9



TABLE B-18.—Relation of national income and personal income, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 P

1977:1IIIII .IV

1978:1IIIIIIV

1979:1IIIIIIV P

Nationalincome

84.8

39.9

71.3

79.7102.6135.7169.1181.9180.6178.3194.6219.0212.7

236.2272.3285.8299.7299.1328.0346.9362.3364.0397.1

412.0424.2457.4482.8519.2566.0622.2655.8714.4767.9

798.4858.1951.9

1,064.61,136.01,215.01,359.81,525.81,724.31,924.2

1,456.91,505.31,551.11,589.8

1,621.01,703.91,752.51,820.0

1,869.01,897.91,941.9

Less

Corporateprofitswith

inventoryvaluation

andcapital

consump-tion

adjust-ments

9.2

- 1 . 7

5.3

8.714.119.323.523.619.016.622.229.126.9

33.738.135.435.534.644.642.942.137.548.2

46.646.954.959.667.077.182.579.385.881.4

67.977.292.199.183.695.9

126.8150.0167.7178.5

137.1148.9160.8153.0

141.2169.4175.2184.8

178.9176.6180.8

Netinterest

4.7

4.1

3.6

3.33.33.12.72.42.21.62.12.12.2

2.32.73.03.44.34.85.26.58.08.8

9.811.212.814.315.918.521.924.326.830.8

37.542.847.052.369.078.683.894.0

109.5129.7

89.392.795.898.2

101.5106.8111.9117.6

122.6125.6131.5138.9

Contribu-tions for

socialinsurance

0.2

.3

2.1

2.32.83.54.55.26.16.15.85.45.9

7.18.59.09.1

10.111.512.914.915.218.0

21.121.924.327.328.730.038.843.448.154.9

58.764.873.691.5

103.8110.6126.0142.5164.1189.8

137.7140.7143.8147.6

158.3162.6165.7170.0

184.6187.7191.1195.9

Wageaccruals

lessdisburse-

ments

0.0

.0

.0

.0

.0

.0

.2- .2

.0- .0

.0

.0- .0

.0

.1- .0- .1

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.6

.0- . 1- .5

.0

.0

.0

.2- .2

.0

.0

.0

.0

.0

.0

.5

.4

.1- .9— 1

.2

Plus

Govern-ment

transferpayments

topersons

0.9

1.5

2.5

2.72.62.72.53.15.6

10.811.210.611.7

14.411.612.112.915.116.217.320.124.325.2

27.030.831.633.434.837.641.649.556.562.7

75.989.999.4

113.5134.9170.6185.8199.6214.9241.9

194.5195.6202.4206.0

208.5209.8219.1222.3

227.7233.7250.4255.8

Personalinterestincome

6.9

5.5

5.4

5.35.35.25.15.25.96.47.37.78.2

8.99.6

10.311.412.713.815.317.418.820.9

23.324.627.130.233.337.241.845.049.655.9

64.369.374.684.1

103.0115.5127.0141.7163.3191.8

135.6140.2143.9147.2

152.2159.4167.2174.3

181.0187.6194.4204.3

Dividends

5.8

2.0

3.8

4.04.44.34.44.64.65.66.37.07.2

8.88.58.58.89.1

10.311.111.511.312.2

12.913.314.415.517.319.119.420.121.922.6

22.923.024.627.831.031.937.542.147.252.7

40.841.542.743.4

45.146.047.849.7

51.552.352.854.4

Businesstransfer

payments

0.6

.7

.5

.4

.5

.5

.5

.5

.5

.5

.6

.7

.8

.8

.91.01.21.11.21.41.51.61.8

2.02.02.12.42.72.83.03.13.43.8

4.04.24.75.45.97.68.08.79.2

10.2

8.68.78.98.9

8.99.09.29.5

9.69.9

10.410.8

Equals

Personalincome

84.9

46.9

72.4

77.895.3

122.4150.7164.4169.8177.3189.8208.5205.6

226.1253.7270.4286.1288.2308.8330.9349.3359.3382.1

399.7415.0440.7463.1495.7537.0584.9626.6685.2745.8

801.3859.1942.5

1,052.41,154.91,255.51,381.61,531.61,717.41,923.1

1,472.51,509.01,548.51,596.4

1,634.81,689.31,742.51,803.1

1,852.61,892.51,946.62,000.5



TABLE B-19.—National income by type of income, 1929-79


Year orquarter

Nationalincome1

Compensationof employees

TotalWages

andsalaries

Supple-ments

towages

andsal-

aries 2

Proprietors' income with inventory valuation and capital consumptionadjustments

Total

Farm

Total Income3

Capitalconsump-

tionadjust-ment

Nonfarm

Total Income4

Inven-tory

valua-tion

adjust-ment

Capitalconsump-

tionadjust-ment

1929

1933

1939...

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 »

1977:

IIIllIV

1978:I

1979:IIIIV P

84.8

39.9

71.3

79.7102.6135.7169.1181.9180.6178.3194.6219.0212.7

236.2272.3285.8299.7299.1328.0346.9362.3364.0397.1

412.0424.2457.4482.8519.2566.0622.2655.8714.4767.9

798.4858.1951.9

1,064.61,136.01,215.01,359.81,525.81,724.31,924.2

1,456.91,505.31,551.11,589.8

1,621.01,703.91,752.51,820.0

1,869.01,897.91,941.9

51.1

29.5

48.1

52.164.885.3

109.5121.2123.1118.1129.2141.4141.3

154.8181.0195.7209.6208.4224.9243.5256.5258.2279.6

294.9303.6325.1342.9368.0396.5439.3471.9519.8571.4

609.2650.3715.1799.2875.8931.1

1,037.81,156.91,304.51,459.1

1,110.11,141.51,170.71,205.5

1,244.01,288.21,321.11,364.8

1,411.21,439.71,472.81,512.8

50.5

29.0

46.0

49.962.182.1

105.8116.7117.5112.0123.1135.5134.7

147.0171.3185.3198.5196.8211.7228.3239.3240.5258.9

271.9279.5298.0313.4336.1362.0398.4427.5469.5514.6

546.5580.0633.8701.2764.1805.9890.0984.0

1,103.51,227.3

945.8971.8995.0

1,023.4

1,052.01,090.01,117.41,154.7

1,189.41,211.51,238.01,270.3

0.6

2.1

2.32.73.23.84.55.66.06.15.96.6

7.89.7

10.411.011.613.215.217.217.720.6

23.024.127.129.531.834.540.944.450.356.8

62.770.381.498.0

111.7125.2147.8172.9201.0231.8

164.3169.7175.7182.1

192.0198.3203.7210.1

221.8228.2234.8242.6

14.9

5.8

11.7

12.917.424.029.030.231.736.635.840.736.1

38.442.842.941.340.842.543.645.047.447.2

47.048.349.650.352.256.760.361.063.466.2

65.167.776.192.486.287.089.3

100.2116.8130.0

96.997.698.6

107.6

109.1115.0117.4125.7

129.0129.3130.3131.5

6.2

2.6

4.4

4.56.49.8

11.711.612.214.915.217.512.7

13.515.814.912.912.311.311.211.013.110.7

11.411.811.911.610.312.613.612.112.013.9

13.914.318.032.025.423.518.319.627.732.1

19.217.916.824.7

25.727.726.131.3

34.233.730.929.5

6.3

2.5

4.4

4.56.5

10.312.212.212.615.115.618.113.4

14.116.615.713.712.911.911.811.813.911.6

12.312.712.812.511.213.514.613.213.315.4

15.316.020.034.227.927.122.324.032.637.5

23.122.121.329.4

30.432.531.136.4

39.339.036.235.5

- 0 . 1

- . 0

- . 0- . 0- . 5

-'.S- . 4- . 2- . 4- . 6- . 7

- . 7

- . 7- . 6- . 6- . 6

- . 9_ g-.9

- 1 . 0- . 9

- 1 . 0- . 9

- 1 . 0- 1 . 2- 1 . 3- 1 . 4

- 1 . 4- 1 . 7- 2 . 0- 2 . 2- 2 . 5- 3 . 7- 4 . 0- 4 . 3- 4 . 9- 5 . 4

-4.0-4.2-4.5-4.7

-4 .7-4 .9-5 .0-5 .1

- 5 . 1- 5 . 3- 5 . 3- 6 . 0

3.2

7.3

8.410.914.317.318.619.421.620.623.223.5

24.927.028.028.428.531.232.433.934.336.6

35.636.437.738.742.044.146.748.951.452.3

51.253.458.160.460.963.571.080.589.198.0

77.779.881.782.9

83.487.391.394.4

94.895.599.4

102.0

3.9

7.6

8.611.714.417.118.319.323.321.823.122.2

25.126.426.927.627.630.531.833.133.235.3

34.235.336.437.240.242.745.347.550.451.3

50.752.856.460.362.964.072.281.992.2

103.7

79.381.082.684.5

85.690.194.598.5

99.8100.5106.0108.6

0.1

- . 5

- . 2

- . 0- . 6- . 4- . 2- . 1- . 1

- 1 . 7- 1 . 5

- . 4.5

- 1 . 1- . 3

.2- . 2- . 0- . 2- . 5- . 3- . 1- . 1

.1- . 1- . 0- . 0- . 0- . 2- . 3- . 3- . 4- . 5

- . 5- . 4- . 7

- 1 . 7- 3 . 6- 1 . 2- 1 . 2- 1 . 3- 2 . 1- 3 . 0

- 1 . 7- 1 . 2

- 1 . 3

- 1 . 7- 2 . 0- 2 . 0- 2 . 4

- 3 . 1- 2 . 5- 3 . 1- 3 . 1

- 0 . 2

- . 2

- . 1

- . 1- . 1

.2

.3

.4

.2

.0

.4

.5

.9

.9

.9

.91.01.01.11.21.11.3

1.31.21.41.61.81.61.61.71.51.4

1.01.12.51.81.6

.6- . 0- . 1

- 1 . 0- 2 . 8

.1

.0- . 1- . 3

-.5

-1.1-1.6

-1.9-2 .5-3.4-3 .4



TABLE B-19.—National income by type of income, 1929-79—Continued


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 P

1977:1IIIIIIV

1978:IIIIllIV

1979:1

IllIV P

Rental income of persons

with capital consumption

Total

4.9

2.2

2.6

2.73.14.0444.54.65.55.35.76.17.17.78.8

10.011.011.311.612.212.913.2

13.814.315.015.716.117.118.219.418.618.1

18.620.121.521.621.422.422.124.725.926.9

23.624.625.225.5

25.224.426.827.1

27.326 826.627.0

adjustment

Rentalincome

ofpersons

5.7

2.3

3.1

3.33.95.0565.96.27.37.78.58.9

10.011.012.213.414.414.815.215.916.717.3

17.818.319.019.620.121.022.123.423.824.8

25.827.729.431.333.736.938.344.249.355.0

41.443.545.246.7

46.947.350.952.1

53.054156.056.8

Capitalcon-

sumptionadjust-ment

- 0 . 8

- .1

- .6

- .6- .8

- 1 . 0- 1 2-1 .4- 1 6- 1 . 8- 2 . 5- 2 . 8- 2 . 8

-2 .9- 3 . 3-3 .4-3 .4- 3 . 3- 3 . 5-3 .6- 3 . 6- 3 . 8-4 .0

- 4 . 1- 4 . 0-4 .0- 3 . 9- 4 . 0-3 .9-3 .9-4 .0-5 .2- 6 . 7

- 7 . 1- 7 . 6- 7 . 9- 9 . 8

-12 .3-14.5-16.2-19 .5- 2 3 4-28.1

-17.8-18.9-20.0-21.2

-21.7-22.9-24.1-25.0

-25.7- 2 7 3-29 .5

29.8

Corporate profits with inventory valuation and capital consumption adjustments

Total

9.2

- 1 . 7

5.3

8.714.119.323.523.619.016.622.229.126.9

33.738.135.435.534.644.642.942.137.548.2

46.646.954.959.667,077.182.579.385.881.4

67.977.292.199.183.695.9

126.8150.0167.7178.5

137.1148.9160.8153.0

141.2169.4175.2184.8

178.9176 6180.8

Profits with inventory valuation adjustment and withoutcapital consumption adjustment

Total

10.5

-1 .2

6.3

9.815.220.324.423.819.219.325.633.030.8

37.642.739.839.537.846.745.945.440.851.2

48.948.753.757.664.273.378.675.682.177.9

66.476.989.697.286.5

107.9141.3162.0180.8195.2

149.7160.3172.0166.0

153.6182.0189.0198.6

193.31913198.3

Profits before tax

Total

10.0

1.0

7.0

10.017.721.525.124.119.724.631.535.228.9

42.643.938.940.538.148.448.646.941.151.6

48.548.653.657.764.775.280.777.385.683.4

71.582.096.2

115.8126.9120.4156.0177.1206.0237.0

168.4176.2180.9183.0

177.5207 2212.0227.4

233.3227 9242.3

Profitstax

liability

1.4

.5

1.4

2.87.6

11.414112.910.79.1

11.312.410.2

17.922.619.420.317.622.022.021.419.023.6

22.722.824.026.228.030.933.732.539.439.7

34.537.741.548.752.449.863.872.684.592.7

69.272.573.775.1

70.884 787.595.1

91.388 794.0

Profits after tax

Total

8.6

.4

5.6

7.210.110.111.111.29.0

15.520.222.718.7

24.721.319.520.220.526.426.625.522.128.0

25.825.829.631.536.744.347.144.946.243.8

37.044.354.667.174.570.692.2

104.5121.5144.4

99.2103.7107.2107.9

106.7122 4124.6132.3

142.0139 3148^3

Divi-dends

5.8

2.0

3.8

4.04.44.3444.64.65.66.37.07.28.88.58.58.89.1

10.311.111.511.312.2

12.913.314.415.517.319.119.420.121.922.6

22.923.024.627.831.031.937.542.147.252.7

40.841.542.743.4

45.146 047.849.7

51.552 352.854 4

Undis-tributedprofits

2.8

- 1 . 6

1.8

3.25.75.9666.54.49.9

13.915.711.5

15.912.811.011.511.416.115.514.010.815.8

13.012.515.216.019.425.227.624.724.221.2

14.121.330.039.343.638.754.762.474.391.7

58.362.264.664.5

61.676 476.882.6

90.587 095^5

Inven-tory

valua-tion

adjust-ment

0.5

- 2 . 1

- .7_ 2

-2^5-1 .2

- .8- .3-.6

- 5 . 3-5 .9- 2 . 2

1.9- 5 . 0- 1 . 2

1.0- 1 . 0

- .3- 1 . 7- 2 . 7- 1 . 5

- .3- .5

.3

.1

.1-.2- .5

- 1 . 9- 2 . 1- 1 . 7- 3 . 4- 5 . 5

- 5 . 1-5 .0- 6 . 6

-18.6-40.4-12.4-14.6-15.2-25.2-41.9

-18.7-15.9

-8 .9-17.0

-23.9- 2 5 1-23.0-28.8

-39 .9- 3 6 6-44.0-46.9

Capitalcon-

sumptionadjust-ment

- 1 . 3

- .5

- 1 . 0

- 1 . 1- 1 . 1- 1 . 0

- .8- .2- .1

- 2 . 7-3 .4- 3 . 9- 3 . 8

- 4 . 0- 4 . 6- 4 . 5- 4 . 1-3 .2- 2 . 1- 3 . 0- 3 . 3- 3 . 4- 2 . 9

- 2 . 3- 1 . 8

1.22.12.83.83.93.73.73.51.5

.32.51.9

- 2 . 9-12.0-14 .5-12 .0-13 .1-16.7

-12.6-11.4-11.2-13.0

-12.4-12.6-13.8-13.8

-14 .5- 1 4 7- R 6-20 .1

Netinterest

4.7

4.1

3.6

3.33.33.12.72.42.21.62.12.12.22.32.73.03.44.34.85.26.58.08.89.8

11.212.814.315.918.521.924.326.830.8

37.542.847.052.369.078.683.894.0

109.5129.7

89.392.795.898.2

101.5106 8111.9117.6

122.6125 613L5138.9

1 National income is the total net income earned in production. It differs from gross national product mainly in that it excludesdepreciation charges and other allowances for business and institutional consumption of durable capital goods and indirect businesstaxes. See Table B-17.

2 Employer contributions for social insurance and to private pension, health, and welfare funds; workmen's compensation; directors'fees; and a few other minor items.3 With inventory valuation adjustment and without capital consumption adjustment.

4 Without inventory valuation and capital consumption adjustments.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-20.—Sources of personal income, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

1977:I||IIIIV

1978:|||IIIIV ...

1979:

II ....IllIV

Personalincome

84.9

46.9

72.4

77.895.3

122.4150.7164.4169.8177.3189.8208.5205.6

226.1253.7270.4286.1288.2308.8330.9349.3359.3382.1

399.7415.0440.7463.1495.7537.0584.9626.6685.2745.8

801.3859.1942.5

1,052.41,154.91,255.51,381.61,531.61 717.41,923.1

1,472.51 5 0 9 01,548.51,596.4

1,634.81689 31,742.51,803.1

1,852.61,892.51946 62,000.5

Wage and salary disbursementsl

Total

50.5

29.0

46.0

49.962.182.1

105.6116.9117.5112.0123.1135.5134.8

147.0171.3185.4198.6196.8211.7228.3239.3240.5258.9

271.9279.5298.0313.4336.1362.0398.4427.5469.5514.6

546.5579.4633.8701.3764.6805.9890.0984.0

1,103 31,227.5

945.89718995 0

1,023.4

1,052 01,090 01,116.81,154.3

1,189.31,212.41238 11,270.1

Commodity-producingindustries

Total

21.5

9.8

17.4

19.727.539.149.050.445.946.054.261.157.8

64.876.382.089.685.793.1

100.6104.2100.0109.6

113.1113.7121.8126.9135.4146.0161.0168.3183.4199.6

202.9208.3227.3254.3274.6275.0307.2343.1387.4435.2

327.9340 5348.1356.1

363.9383 4393.7408.6

423.0431.7438 3447.9

Manufac-turing

16.1

7.8

13.6

15.621.730.940.942.938.236.542.547.144.6

50.359.364.171.267.573.879.482.478.686.8

89.789.896.7

100.6107.1115.5128.0134.1145.8157.5

158.2160.3175.4196.2211.4211.0237.4266.0298 3330.9

254 8263 3269 4276.4

285 62941300.8312.7

324 8328.53319338^6

Distrib-utive

indus-tries

15.6

8.8

13.3

14.216.318.020.122.724.831.035.237.537.7

39.844.346.949.750.153.457.760.560.864.8

68.269.372.876.381.487.294.4

100.9109.9120.7

130.1139.3151.9168.1184.3195.3216.3239.1269.4300.8

230.0236 0241.8248.5

257 6265 9272.5281.6

2911295.8304 0312^2

Serviceindus-tries

8.4

5.2

7.1

7.58.19.09.9

10.911.914.316.117.918.5

19.821.523.124.926.128.631.333.635.638.5

41.444.147.250.254.458.964.771.879.889.4

97.5106.2117.2130.3145.1160.1178.5200.5228.7257.8

192 2196 8202.9210.0

218 2225 4231.9239.4

247 2252.826132693

Govern-mentand

govern-mententer-prises

5.0

5.2

8.2

8.510.216.026.633.034.920.717.519.020.8

22.629.233.334.434.936.638.841.044.146.0

49.252.456.360.064.969.978.386.496.4

104.9

116.0125.6137.3148.6160.5175.4188.0201.3217 8233.7

195.7198 5202 2208.8

212.3215 3218.7224.7

228.0232.1234 5240il

Otherlabor

income1

0.5

.4

.6

.6

.7

.91.11.51.82.02.42.72.9

3.74.65.25.96.17.08.09.09.4

10.6

11.211.813.014.015.717.819.921.725.128.2

32.036.242.048.755.665.177.491.8

106 5122.7

86 289 793 797.4

1011104 7108.2111.9

116.0120.3124 912916

Proprietors'income wnn

inventoryvaluation and

capitalconsumptionadjustments

Farm

6.2

2.6

4.4

4.56.49.8

11.711.612.214.915.217.512.7

13.515.814.912.912.311.311.211.013.110.7

11.411.811.911.610.312.613.612.112.013.9

13.914.318.032.025.423.518.319.611132.1

19 217 916 824.7

25 727 726.131.3

34 233.730 929^5

Nonfarm

8.8

3.2

7.3

8.410.914.317.318.619.421.620.623.223.5

24.927.028.028.428.531.232.433.934.336.6

35.636.437.738.742.044.146.748.951.452.3

51.253.458.160.460.963.571.080.589198.0

11179 881782.9

83 487 391.394.4

94.895.599 4

102^0



TABLE B-20.—Sources of personal income, 1929-79—Continued


Year orquarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

1977:iIIIllIV

1978:1||IIIIV

1979:1||IIIIV P

Rental

incomeof

personswith

capitalcon-

sumptionadjust-ment

4.9

2.2

2.6

273.14.04.44.54.65.55.35.76.17.17.78.8

10.011.011.311.612.212.913.2

13.814.315.015.716.117.118.219.418.618.1

18.620.121.521.621.422.422.124.725 926.9

23 624.625.225.5

25.224 426.827.1

27.326 826.627.0

Divi-dends

5.8

2.0

3.8

404.44.34.44.64.65.66.37.07.28.88.58.58.89.1

10.311.111.511.312.2

12.913.314.415.517.319.119.420.121.922.6

22.923.024.627.831.031.937.542.147 252.7

40 841.542.743.4

45.146 047.849.7

51.552 352.854.4

Personalinterestincome

6.9

5.5

5.4

535.35.25.15.25.96.47.37.78.28.99.6

10.311.412.713.815.317.418.820.9

23.324.627.130.233.337.241.845.049.655.9

64.369.374.684.1

103.0115.5127.0141.7163 3191.8

135 6140.2143.9147.2

152.2159 4167.2174.3

181.0187 6194.4204.3

Transfer payments

Total

1.5

2.1

3.0

313.13.13.03.66.2

11.311.711.312.5

15.212.613.114.116.217.518.721.625.927.0

28.932.833.835.837.440.444.752.659.966.5

79.994.1

104.1118.9140.8178.2193.8208.4224 1252.1

203 1204.2211.3214.8

217.4218 8228.3231.8

237.3243 6260.8266.7

Old-age,survivors,disability,

andhealthinsur-ance

benefits

0.00

.1

.1

.2

.2

.3

.4

.5

.6

.71.01.92.23.03.64.95.77.38.5

10.2

11.112.614.315.216.018.120.825.530.232.9

38.544.549.660.470.181.492.9

104.9116 3132.4

99 6101.7108.4110.0

111.4112 4119.8121.5

123.8127 1138.7140.2

Govern-mentunem-

ploymentinsur-ance

benefits

0.45

.4

.4

.1

.1

.41.1

.8

.91.91.5

.91.11.02.21.51.51.94.12.83.04.33.13.02.72.31.92.22.12.24.05.85.64.36.6

17.415.512.5

929.3

14 712.611.411.2

10.5929.08.2

8.7889.6

10.0

Veteransbenefits

0.6

.6

.5

.5

.5

.5

.51.03.07.07.05.95.37.74.64.34.14.24.44.44.54.74.64.65.04.74.84.74.94.95.65.96.77.78.89.7

10.411.814.514.413.813 914.3

14 313.913.413.7

14.013 713.714.1

14.514 114.214.5

Govern-ment

employ-ee

retire-ment

benefits

0.1

.2

.33

.3

.3

.4

.4

.5

.7

.7

.7

.91.01.11.21.41.51.71.92.22.52.83.13.43.74.24.75.26.16.97.78.6

10.111.713.515.618.822.725.929.232 937.4

27 628.929.630.8

31.432 533.134.6

35.336 737.939.7

Aid tofamilies

withdepend-

entchildren(AFDC)

0.8

U

1./

1Jl iUU2.(2.C2.]

.3

.4

.5

.6

.6

.5

.5

.6

.6

.6

.7

.8

.91.01.11.31.41.51.71.92.32.83.54.86.26.97.27.99.2

10.110.610 711.0

10 410.610.710.7

10.710 810.710.7

10.710 810.911.5

Other

))

2.52.93.33.53.63.84.14.14.34.54.95.35.86.26.46.77.37.88.39.2

10.211.112.5

14.917.218.921.025.533.035.237.341 147.7

36 436737.838.5

39.540 34Z042.6

44.346 249.650.7

Less:Personalcontribu-tions for

socialinsurance

0.1

.2

.67

.81.21.82.22.32.02.12.22.22.93.43.84.04.65.25.86.76.9 i7.99.39.7

10.311.812.613.317.820.622.826.3

28.030.834.242.247.750.555.661.369 680.7

59 560.861.863.0

67.369 070.271.8

78.779 881.283.0

Nonfarmpersonalincome2

159.6171.5187.7189.9

209.3234.4252.0269.9272.7294.3316.4335.0342.6367.7

384.4399.0424.5447.0480.7519.5566.1609.1667.5725.8

780.7838.0917.3

1,011.91,119.31,220.81,350.61,498.11674 21,873.1

1439 91,477.51,517.6.1,557.3

1,594.51 646 61J00.61,755.3

1,801.31 8410U97.61,952.4

1 The total of wage and salary disbursements and other labor income differs from compensation of employees in Table B-19 in thatit excludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.2 Personal income exclusive of farm proprietors' income, farm wages, farm other labor income, and agricultural net interest.

Note.—The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and isbased on the 1972 Standard Industrial Classification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.



TABLE B-21.—Disposition of personal income, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "

19771IIIIIIV

1978-1IIIIIIV

1979:1IIIIIIV

Personal

income

84.9

46.9

72.4

77.895.3

122.4150.7164.4169.8177.3189.8208.5205.6

226.1253.7270.4286.1288.2308.8330.9349.3359.3382.1

399.7415.0440.7463.1495.7537.0584.9626.6685.2745.8

801.3859.1942.5

1,052.41,154.91,255.51,381.61,531.61,717.41,923.1

1,472.51,509.01,548.51,596.4

1,634.81,689.31,742.51,803.1

1,852.61,892.51,946.62,000.5

Less:Personaltax andnontax

payments

2.6

1.4

2.4

2.63.35.9

17.818.920.818.721.421.018.5

20.628.934.035.532.535.439.742.442.146.0

50.452.156.860.358.664.974.582.197.1

115.4

115.3116.3141.2150.8170.3168.8197.1226.4259.0299.9

222.4223.0225.3235.2

239.8252.1266.0278.2

280.4290.7306.6321.7

Equals:Dispos-

ablepersonalincome

82.3

45.5

69.9

75.292.0

116.5132.9145.5149.0158.6168.4187.4187.1

205.5224.8236.4250.7255.7273.4291.3306.9317.1336.1

349.4362.9383.9402.8437.0472.2510.4544.5588.1630.4

685.9742.8801.3901.7984.6

1,086.71,184.51,305.11,458.41,623.2

1,250.11,286.01,323.21,361.2

1,395.01,437.31,476.51,524.8

1,572.21,601.71,640.01,678.8

L

Total

79.1

46.5

67.8

72.081.889.4

100.1109.0120.4145.2163.5176.9180.4

194.7210.0220.4233.7240.1258.5271.6286.4295.4317.3

332.3342.7363.5384.0410.9441.9477.4503.7550.1595.3

635.4685.5751.9831.3913.0

1,003.01,115.91,240.21,386.41,550.4

1,197.61,220.21,251.31,291.7

1,320.41,366.11,405.61,453.4

1,493.01,515.81,569.71,622.9

.ess: Personal outlays

Personalcon-

sumptionexpendi-

tures

77.3

45.8

67.0

71.080.888.699.4

108.2119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6979.1

1,089.91,210.01,350.81,509.8

1,169.11,190.51,220.61,259.7

1,287.21,331.21,369.31,415.4

1,454.21,475.91,528.61,580.4

Interestpaid by

consum-ers tobusi-ness

1.5

.5

.7

.8

.9

.7

.5

.5

.5

.71.01.41.7

2.32.52.93.63.84.45.15.55.66.1

7.07.37.88.89.9

11.112.012.513.314.7

15.516.217.920.222.423.025.129.334.839.6

27.528.729.831.1

32.434.035.637.1

37.739.040.241.6

Parrer-

sonaltransfer

pay-ments

tofor-

eigners(net)

0.3

.2

.2

.2

.2

.2A.5.7.7.7.5

.4

.4

.4

.5

.5

.4

.5

.5

.4

.4

.4

.4

.5

.6

.6

.7

.6

.9

.8

.9

1.11.11.01.31.0

.9

.9

.9

.8

.9

1.01.0

.9

.9

.8

.9

.7

.9

1.1.9.9.9

Equals:Personalsaving

3.1

- 1 . 0

2.1

3.310.227.032.736.528.513.44.9

10.66.7

10.814.816.017.015.614.919.720.621.718.8

17.120.220.418.826.130.333.040.938.135.1

50.657.349.470.371.783.668.665.072.072.8

52.565.971.969.5

74.671.270.971.5

79.285.970.355.9

Percent of disposable

personal income

Personal outlays

Total

96.2

102.2

97.0

95.688.976.875.474.980.891.597.194.396.4

94.793.493.293.293.994.693.293.393.294.4

95.194.494.795.394.093.693.592.593.594.4

92.692.393.892.292.792.394.295.095.195.5

95.894.994.694.9

94.795.095.295.3

95.094.695.796.7

Consump-tion

expend-itures

93.9

100.7

95.8

94.387.776.174.874.480.290.696.193.295.2

93.492.191.891.692.292.891.391.491.392.5

93.092.392.593.091.691.191.190.091.192.0

90.290.091.589.890.390.192.092.792.693.0

93.592.692.292.5

92.392.692.792.8

92.592.193.294.1

Personalsaving

3.8

- 2 . 2

3.0

4.411.123.224.625.119.28.52.95.73.6

5.36.66.86.86.15.46.86.76.85.6

4.95.65.34.76.06.46.57.56.55.6

7.47.76.27.87.37.75.85.04.94.5

4.25.15.45.1

5.35.04.84.7

5.05.44.33.3



TABLE B-22.—Total and per capita disposable personal income and personal consumption expenditures in

current and 1972 dollars, 1929-79

[Quarterly data at seasonally adjusted annual rates, except as noted]

Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

19791IIIIIIV

Disposable personal income

Total (billions ofdollars)

Currentdollars

82.3

45.5

69.9

75.292.0

116.5132.9145.5149.0158.6168.4187.4187.1

205.5224.8236.4250.7255.7273.4291.3306.9317.1336.1

349.4362.9383.9402.8437.0472.2510.4544.5588.1630.4

685.9742.8801.3901.7984.6

1,086.71,184.51,305.11,458.41,623.2

1,250.11,286.01,323.21,361.2

1,395.01,437.31,476.51,524.8

1,572.21,601.71,640.01,678.8

1972dollars

229.8

169.7

230.1

244.3278.1317.3332.2343.9338.6332.4318.8335.5336.1

361.9371.6382.1397.5402.1425.9444.9453.9459.0477.4

487.3500.6521.6539.2577.3612.4643.6669.8695.2712.3

741.6769.0801.3854.7842.0859.7891.8929.5972.5994.1

908.0921.5936.3951.8

956.6966.1976.2991.5

996.6993.0993.4993.4

Per capita(dollars)

Currentdollars

675

362

534

570690863972

1,0511,0651,1221,1681,2781,254

1,3551,4571,5061,5711,5741,6541,7311,7921,8211,898

1,9341,9762,0582,1282,2782,4302,5972,7402,9303,111

3,3483,5883,8374,2854,6465,0885,5046,0176,6727,363

5,7815,9366,0946,256

6,4016,5836,7486,954

7,1577,2757,4307,586

1972dollars

1,886

1,350

1,756

1,8492,0842,3532,4292,4852,4202,3512,2122,2882,253

2,3862,4082,4342,4912,4762,5772,6432,6502,6362,696

2,6972,7252,7962,8493,0093,1523,2743,3713,4643,515

3,6193,7143,8374,0623,9734,0254,1444,2854,4494,509

4,1994,2544,3124,374

4,3894,4254,4614,522

4,5364,5104,5014,489


Total (billions ofdollars)

Currentdollars

77.3

45.8

67.0

71.080.888.699.4

108.2119.5143.8161.7174.7178.1

192.0207.1217.1229.7235.8253.7266.0280.4289.5310.8

324.9335.0355.2374.6400.4430.2464.8490.4535.9579.7

618.8668.2733.0809.9889.6979.1

1,089.91,210.01,350.81,509.8

1,169.11,190.51,220.61,259.7

1,287.21,331.21,369.31,415.4

1,454.21,475.91,528.61,580.4

1972dollars

215.6

170.7

220.3

230.4244.1241.7248.7255.7271.4301.4306.2312.8320.0

338.1342.3350.9364.2370.9395.1406.3414.7419.0441.5

453.0462.2482.9501.4528.7558.1586.1603.2633.4655.4

668.9691.9733.0767.7760.7774.6820.6861.7900.8924.5

849.2853.1863.7880.9

882.7894.8905.3920.3

921.8915.0925.9935.2

Per capita(dollars)

Currentdollars

634

364

511

537605657727781854

1,0171,1221,1921,194

1,2661,3421,3831,4391,4521,5351,5811,6371,6621,755

1,7981,8241,9041,9792,0872,2142,3652,4682,6702,860

3,0203,2273,5103,8494,1974,5845,0645,5796,1796,848

5,4065,4955,6225,789

5,9066,0976,2586,455

6,6196,7046,9267,142

1972dollars

1,769

1,358

1,681

1,7441,8301,7921,8191,8471,9392,1312,1242,1332,145

2,2292,2192,2362,2832,2842,3912,4152,4212,4062,493

2,5072,5162,5892,6492,7552,8722,9823,0353,1563,234

3,2653,3423,5103,6483,5893,6273,8133,9734,1214,193

3,9273,9383,9784,049

4,0504,0984,1374,197

4,1964,1564,1954,226

Popula-tion(thou-

sands) »

121,875

125,690

131,028

132,122133,402134,860136,739138,397139,928141,389144,126146,631149,188

151,684154,287156,954159,565162,391165,275168,221171,274174,141177,073

180,671183,691186,538189,242191,889194,303196,560198,712200,706202,677

204,878207,053208,846210,410211,945213,566215,203216,898218,594220,466

216,244216,643217,119217,586

217,942218,335218,814219,286

219,690220,166220,715221,291

1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data are forJuly 1 through 1973 and are averages of quarterly data beginning 1974. Quarterly data are average for the period.

Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).


TABLE B-23.—Gross saving and investment, 1929-79


Year orquarter

Gross saving

Total

Gross private saving

TotalPersonalsaving

Grossbusinesssaving1

Government surplus ordeficit ( - ) , nationalincome and product

accounts

Total FederalStateandlocal

Capitalgrants

receivedby theUnitedStates(net)*

Gross investment

Total

Grossprivate

domesticinvest-ment

Netforeigninvest-ment3

Statis-tical

discrep-ancy

1929

1933

1939

1940

194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 "....

1977:III

IV

1978:III

IV

1 9 7 9 :IIIIllIV P....

15.9

8.7

13.518.510.55.32.35.1

34.641.249.034.8

49.755.549.348.149.465.673.672.660.475.8

78.975.883.689.6

100.1115.4122.9120.3130.8147.5

143.4155.4177.5216.8204.4195.4236.2276.1324.6364.0

253.3276.0291.6283.6

289.7329.2332.7346.9

362.2374.3367.3

14.9

2.2

10.9

14.222.241.949.454.144.629.226.840.638.2

41.649.453.155.056.562.468.471.773.077.3

75.880.087.488.9

102.4114.9124.2134.6136.3136.8

151.9173.0180.4210.5209.5259.8271.9295.6324.9348.9

266.4292.7315.1308.4

308.9324.2330.4336.1

345.2360.5352.1

3.1

- 1 . 0

2.1

3.310.227.032.736.528.513.44.9

10.66.7

10.814.816.017.015.614.919.720.621.718.8

17.120.220.418.826.130.333.040.938.135.1

50.657.349.470.371.783.668.665.072.072.8

52.565.971.969.5

74.671.270.971.5

79.285.970.355.9

11.7

3.2

10.912.014.816.717.716.015.821.830.031.4

30.834.637.138.041.047.548.751.151.358.5

58.759.867.070.176.284.691.293.798.2

101.7

101.4115.7131.0140.2137.9176.2203.3230.7252.9276.0

213.9226.8243.2238.9

234.3253.0259.5264.6

266.0274.6281.9

1.0

- 1 . 4

- 2 . 2

- . 7- 3 . 8

-31.4-44 .1-51.8- 3 9 . 5

5.414.48.4

- 3 . 4

8.06.1

- 3 . 8- 6 . 9- 7 . 1

3.15.2

.9-12.6- 1 . 6

3.1- 4 . 3- 3 . 8

.7- 2 . 3

.5- 1 . 3

-14.2- 5 . 510.7

- 9 . 4-18 .3- 3 . 5

6.3-3 .2

-64.4-35.7-19 .5

- . 314.0

-13.1-16.6-23.5-24.8

-19.25.02.3

10.8

15.812.714.0

1.2

- 1 . 3

-2 .2

- 1 . 3- 5 . 1

-33 .1-46.6-54 .5-42 .1

3.513.48.3

-2 .6

9.26.5

- 3 . 7- 7 . 1- 6 . 0

4.46.12.3

-10 .3- 1 . 1

3.0- 3 . 9-4 .2

- 1 3

- 1 . 8-13.2

- 5 . 88.5

-12 .1-22.0-17 .3- 6 . 7

-10.7-70.6-53.6-46 .3-27.7-10 .5

-37.2-40.9-53.6-53.6

-49.4-24.6-20.4-16.3

-11.7- 7 . 0

-11 .3

-0 .2

- . 1

.61.31.82.52.72.61.91.0.1

- . 7

-1 .2- . 4- . 0

.1- 1 . 1- 1 . 3

- . 9- 1 . 4- 2 . 4

- . 4

.1- . 4

.5

.51.0

- . 0.5

- 1 . 1.3

2.1

2.83.7

13.713.07.66.2

17.926.827.424.4

24.224.230.128.8

30.229.622.727.1

27.619.725.3

0.9.7.7.0

4 - 2 . 0.0.0.0.0

1.1

17.0

1.6

10.1

14.6

19.09.73.55.19.2

35.342.947.835.9

51.759.551.951.452.468.072.872.862.075.5

78.277.387.693.4

102.3116.3126.1122.1130.2144.2

141.4156.8179.2219.4210.1202.8242.3283.6327.9368.0

262.5284.7299.3288.1

292.7331.5336.5351.0

362.8373.1375.6360.4

16.2

1.4

9.3

13.117.99.95.87.2

10.630.734.045.935.3

53.859.252.153.352.768.471.069.261.977.6

76.474.385.290.296.6

112.0124.5120.8131.5146.2

140.8160.0188.3220.0214.6190.9243.0303.3351.5386.2

280.4300.0315.7316.9

327.0352.3356.2370.5

373.8395.4392.3383.3

0.8

1.51.1

- . 2-2 .2- 2 . 1- 1 . 4

4.69.02.0

.6

- 2 . 1.3

- . 2- 1 . 9

- . 3- . 31.83.6

.1- 2 . 0

1.73.02.43.25.74.31.61.2

- 1 . 4- 2 . 0

.5- 3 . 2- 9 . 0

- . 6- 4 . 511.9- . 7

-19.6-23 .5-18.2

-17.9-15 .3-16.4-28 .8

-34.2-20 .8-19.6-19.4

-11.0-22 .3-16.7-22 .8

1.1

1.4

~'.B- 1 . 8

2.74.1

.71.8

- 1 . 21.0

2.04.02.73.33.02.5

- . 8.2

1.7- . 2

_ 7L64.03.72.2

.93.21.7

- 1 . 3- 2 . 1

1.31.72.65.87.46.17.53.34.0

9.18.67.74.6

3.02.33.94.1

.6- 1 . 3

8.3

1 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporate capitalconsumption allowances with capital consumption adjustment, and private wage accruals less disbursements.

2 Allocations of special drawing rights (SDR), except as noted in footnote 4.3 Net exports of goods and services less net transfers to foreigners and interest paid by government to foreigners plus capital grants

received by the United States, net.4 In February 1974, the U.S. Government paid to India $2,010 million in rupees under provisions of the Agricultural Trade

Development and Assistance Act. This transaction is being treated as capital grants paid to foreigners, i.e., a - $ 2 . 0 billion entry incapital grants received by the United States, net.



TABLE B-24.—Saving by individuals, 1946-79x

[Billions of dollars,- quarterly data at seasonally adjusted annual rates]

Year or quarter Total

Increase in financial assets

Total5

Cur-rencyand

demanddepos-

its

Sav-ingsac-

counts

Moneymar-ket

fundshares

Securities

Govern-ment

securi-ties3

Corpo-rateandfor-eign

bonds

Corpo-rateequi-ties4

Insur-anceand

pensionre-

serves 5

Net investment in

Non-farm

homes

Con-sumeidura-bles

Non-cor-

poratebusi-nessas-

sets6

Mort-gagedebton

non-farm

homes

Less: Net increase indebt

Con-sumercredit

Otherdebt 6 7

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

24.420.224.521.3

30.934.730.731.627.7

33.436.735.833.435.6

35.634.140.345.255.7

63.872.177.682.273.7

86.198.7

116.9138.4

1975....1976...1977....1978....

1977:

iniv

1978:IIIIll ,IV

1979:III

128.9

150.0164.6172.8198.2

162.4166.5189.7172.7

176.6196.7205.4214.2

170.5201.6194.1

18.813.29.19.9

13.719.123.222.822.2

28.030.228.631.637.4

32.535.940.647.356.1

59.058.470.476.264.5

78.8103.0128.8148.5142.4

167.2208.1241.7275.3

223.7236.8263.8242.6

243.4286.4288.6282.9

248.8300.4281.8

5.6.1

- 2 . 9- 2 . 0

2.64.61.61.02.2

1.21.8

- . 43.8

1.0- . 9

- 1 . 24.25.2

7.52.49.9

11.1- 2 . 5

8.912.213.914.17.1

4.014.922.718.3

23.731.125.510.4

26.717.214.714.7

-24.016.217.7

6.33.42.22.6

2.44.77.88.19.1

8.69.4

11.913.911.1

12.118.326.126.326.1

27.819.035.331.1

9.1

43.667.874.563.855.9

84.0109.3109.2105.2

115.8103.5120.696.9

91.2113.7117.198.8

90.083.2

108.5

— 9

28.831.633.1

- 1 . 51.61.31.8

- . 1- . 62.52.51.0

5.83.92.3

- 2 . 510.1

2.41.81.81.25.1

3.911.7- . 75.7

25.3

- 7 . 3- 1 0 . 1

1.924.127.8

22.912.018.330.2

5.613.17.7

46.9

35.332.526.527.1

52.251.1

-10.5

- 0 . 9

- . 1- . 4

.2- . 0- . 1- . 9

.51.1.9

1.2.4

.7- . 1- . 5

.2— .5

1.33.94.35.4

9.58.85.02.05.1

8.45.8

- 3 . 3- 1 . 4

4.9- 5 . 1- 4 . 7- 8 . 3

-8.91.5

-1.03.0

- 1 . 08.5

- 1 . 4

1.02.01.51.5.6

- . 5.3

- 2 . 0- 2 . 6

- . 1

- 2 . 1- . 6

- 4 . 2- 6 . 4- 3 . 6

- 1 . 5- 5 . 1- 5 . 6- 6 . 7- 2 . 2

- 3 . 6- 3 . 2- 6 . 1- 6 . 2

-11 .0- 3 . 5- 1 . 7- 8 . 3

- 8 . 8

-10 .2

-9.5-13.1-3.6

5.35.45.35.6

6.96.37.77.97.8

8.59.59.5

10.411.9

11.512.112.713.916.1

16.919.218.619.821.5

24.027.529.433.036.3

43.552.665.477.9

56.960.080.663.8

71.073.290.776.4

70.585.190.8

3.66.79.18.4

11.811.711.312.312.7

16.715.613.212.115.9

14.312.012.813.413.9

13.412.610.914.314.2

11.718.826.028.223.1

20.833.148.159.2

39.845.752.054.9

56.658.359.862.0

60.458.556.6

6.18.89.8

10.9

14.911.38.49.46.9

11.98.77.63.46.9

6.74.18.2

11.815.1

20.222.820.926.326.2

20.226.235.141.128.6

26.640.650.957.5

50.849.849.853.1

48.159.558.863.4

61.352.553.6

2.12.07.12.0

7.04.42.0

.81.5

2.4.5

2.12.33.4

3.13.36.38.57.7

11.29.48.59.4

11.4

9.813.517.720.3

2.8

- . 2- 1 . 0

5.96.9

5.35.26.7

10.4

7.06.74.6

3.64.74.64.4

6.76.66.27.68.7

12.211.28.99.5

12.8

11.712.214.116.217.5

17.013.812.517.118.5

14.126.441.547.135.4

38.161.393.2

103.8

77.593.5

101.6100.2

95.3102.8104.1113.2

111.5117.4101.5

3.13.73.23.2

4.81.65.34.21.5

7.23.92.9

.58.0

4.42.56.38.99.8

10.66.55.7

11.510.8

5.414.719.826.0

9.9

9.725.640.650.6

30.742.539.349.7

43.456.948.853.3

50.744.742.4

- 0 . 52.22.82.2

5.03.62.81.95.5

6.43.23.86.07.2

4.86.57.2

10.89.8

12.610.815.015.313.3

14.821.829.526.522.7

16.629.240.046.2

47.037.640.834.7

38.153.055.738.0

44.954.558.6

1 Saving by households, personal trust funds, nonprofit institutions, farms, and other noncorporate business.2 Includes commercial paper and miscellaneous financial assets, not shown separately.3 Consists of U.S. sayings bonds, other U.S. Treasury securities, U.S. Government agency securities and sponsored agency securities,

and State and local obligations.: Includes investment company shares.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and pension reserves.6 Includes data for corporate farms.7 Other debt consists of security credit, policy loans, noncorporate business mortgage debt, and other debt.

Source: Board of Governors of the Federal Reserve System.


TABLE B-25.—Money income (in 1978 dollars) and poverty status of families and unrelated individuals byrace of head, 1947-78

Vaar

FAMILIES19471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741974*1975197619771978

UNRELATEDINDIVIDUALS

19471948194919501951.195219531954195519561957195819591960196119621963196419651966.19671968.1969197019711972197319741974 4

19751976.19771978

Total

Totalnumber

(mil-lions)

37 238.639.339.940.640.841.242.042 943 543 744.245.1

3 45.53 46.43 47.1347.53 48.0348.53 49.23 50.13 50.8351.63 52.2

53.354.455.155.755.756.256.757.257.8

8.2849.09.4919.79.59.7999.8

10.410 910 9

311 13 H 2311.0311 2312.1312.2312 5313.2313 9314.6315.5

16.316.818 318.918 920.221523124.6

Medianincome

$8 8488,6348,5008,9919,3109,557

10,34210,11010 759114681150511,47212,11912,37412,50012,83813,30913,81014,37815,13415,49316,17916,77816,56916,55917,32617,68316,97317,06016,62117,13417,22617,640

$2,8612 6992,8722,8302 9993,4623,4032,9653 2083,4203,4603 3513 4843 7873 8233,7783 8344,1694,4494 6014,6465 2225,2135,2685,3395,4886 0665,8706 0865,91561576 3566,705

Percent withincomes—

Belowpoverty

level

18.518.118.117.215.915.013.911.811.410.09.7

10.110.09.38.89.28.89.79.49.39.1

Belowpoverty

level

46 145 245 945.444 242.739 838 338134 034.032 931.629 025 625.524125.124 922 622.1

$25,000and

over1

40 838.938.142.018.14.04.95.15669637.08.59.4

10.611.112.413.514.816.818.220.422.611.111A25.225.422.625.623.624.926.327.9

$15,000and

over1

7.5597.07.7162.42.624303.141454748597.5788.39291

10112 111.912.512.613.414 913.213 813.413 914 816.6

White

Totalnumber

(mil-lions)

34135.3

38.239 039 539 740.240.941.141.942.442.743.143.544.144.845.446.046.547.648.548.949.549.449.950.150.550.9

7.273

83858.589929396969.597

10.410 510 711312 012.513.414.214 515 816.316 317.518 619 921.3

Medianincome

$9 2178,9658,8399,3319,687

10,10710,72310,5251123312 0011197311,95312,62412,84813,03613,44513,94714,41714,98615,72316,08116,75017,42017,18917,18318,00118,48117,66017,72917,28617,79718,01318,368

$3 0232 8523,1013,01931573,7313,59131913 4103 5123 7013 5903 7224 09441094,0434 0194,3904 6404 8384 8245 5335,4755 5135,5795 7316 26561306 30661786 42165977̂ 030


Belowpoverty

level

15.214.914.813.912.812.211.19.39.08.07.78.07.97.16.67.06.87.77.17.06.9

Belowpoverty

level

44 143 043 242.742 040.738136136 532 232.130 829.627 123 723 221811111120 419.8

$25,000and

over1

43 341.440.444.619.64.35.35.66275697.59.2

10.111.412.013.414.516.018.119.421.624.024.023.826.827.024.227.125.126.527.929.5

$15,000and

over1

82648.184182.73227353447525254688.4879.2

10 210110 913 113.013 613.614 215 614 114 614 314 815 617.3

Black

Totalnumber

(mil-lions)

23123.3

2 3.82392402402 4.02 4.22 4.32 4.52 4.62 4.824.82 4.82 5.0

4.64.64.84.95.25.35.45.55.55.65.85.85.9

21.0210

2142142132152 1 62 1 62152I621.52 1 521.6217216

161 71.8171.9202223242426292.9

Medianincome

2$4 7112 4,7902 4,5142 5,06225,1012 5,74426,0122 5,8622 6 19526 3142 6 40126,12326,52127,1132 6,9552 7,1732 7,3792 8,0682 8,2532 9,425

9,52110,04610,67010,54410,36910,69910,66610,32410,58610,63610,58610,29010,879

2 $2 1782 2 1372 2,2412 2 2122 2 3322 2,5812 2 82422 1192 2 2772 2 6072 2 3522 2 4352 2 4042 2 3512 2 5232 2^7002 2 75823]0082 3 3832 3 042

34373 6813J463 5553,6234 0044 6294 0454 2543 9824 3174 7734,411


Belowpoverty

level

48.12 49.02 49.02 48.02 43.72 40.02 39.7

35.533.929.427.929.528.829.028.127.826.927.127.928.227.5

Belowpoverty

level

57 0259 325272 62!l2 58 32 55.0250 7

54 449 346 346.748 346.042 937 941039 342139 837 038.6

$25,00Cand

over1

214 2213.1211.6212.2

2 3.42.62.72.72 62 92 7

21.421.42 2.52 3.222.72 3.42 4.22 4.52 5.4

6.17.88.89.79.1

11.110.18.5

10.89.9

10.711.113.4

$15,000and

over1

2312 1 7

2 5232

2 62 42 22 52 22 82 52 8

2 1 521421 722.72212 3.2230229

364 13.7485.173937380768295

11.3

^ o r families, restricted to "$10,000 and over" for the years 1947 to 1950 and "$15,000 and over" for the year 1951; for unrelatedindividuals restricted to "$10,000 and over" for the years 1947 to 1950.

2 Data for Black include "other" races.3 Revised using population controls based on the 1970 census. Such controls are not available by race.4 Based on revised methodology procedures.Note.—The poverty level is based on the poverty index adopted by a Federal interagency committee in 1969. That index reflects

different consumption requirements for families based on size and composition, sex and age of family head, and farm—nonfarmresidence. The poverty thresholds are updated every year to reflect changes in the consumer price index. For further details see"Current Population Reports," Series P-60, No. 119, Bureau of the Census.

Source: Department of Commerce, Bureau of the Census.


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE B-26.—Population by age groups, 1929-79

[Thousands of persons]

July 1 TotalAge (years)

Under 5 5-15 16-19 20-24 25-44 45-64 65 andover

1929

1933

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

1960196119621963196419651966196719681969

19701971197219731974

19751976197719781979

121,767

125,579

130,880

132,122133,402134,860136,739138,397

139,928141,389144,126146,631149,188

152,271154,878157,553160,184163,026

165,931168,903171,984174,882177,830

180,671183,691186,538189,242191,889

194,303196,560198,712200,706202,677

204,878207,053208,846210,410211,901

213,559215,152216,880218,717220 584

11,734

10,612

10,418

10,57910,85011,30112,01612,524

12,97913,24414,40614,91915,607

16,41017,33317,31217,63818,057

18,56619,00319,49419,88720,175

20,34120,52220,46920,34220,165

19,82419,20818,56317,91317,376

17,14817,17716,99016,69416,288

15,87915,34515,24815,37815,649

26,800

26,897

25,179

24,81124,51624,23124,09323,949

23,90724,10324,46825,20925,852

26,72127,27928,89430,22731,480

32,68233,99435,27236,44537,368

38,49439,76541,20541,62642,297

42,93843,70244,24444,62244,840

44,77444,44143,94843,22742,538

41,95641,45940,57539,62338,643

9,127

9,302

9,822

9,8959,8409,7309,6079,561

9,3619,1199,0978,9528,788

8,5428,4468,4148,4608,637

8,7448,9169,1959,54310,215

10,68311,02511,18012,00712,736

13,51614,31114,20014,45214,800

15,27515,63515,94616,31016,590

16,79316,92816,96616,93516,838

10,694

11,152

11,519

11,69011,80711,95512,06412,062

12,03612,00411,81411,79411,700

11,68011,55211,35011,06210,832

10,71410,61610,60310,75610,969

11,13411,48311,95912,71413,269

13,74614,05015,24815,78616,480

17,18418,08918,03218,34518,741

19,22919,63020,07720,46120,726

35,862

37,319

39,354

39,86840,38340,86141,42042,016

42,52143,02743,65744,28844,916

45,67246,10346,49546,78647,001

47,19447,37947,44047,33747,192

47,14047,08447,01346,99446,958

46,91247,00147,19447,72148,064

48,43548,81150,25451,41152,593

53,73555,12956,70658,38060,161

21,076

22,933

25,823

26,24926,71827,19627,67128,138

28,63029,06429,49829,93130,405

30,84931,36231,88432,39432,942

33,50634,05734,59135,10935,663

36,20336,72237,25537,78238,338

38,91639,53440,19340,84641,437

41,97542,41342,78543,07743,319

43,54643,70743,79543,87643,910

6,474

7,363

8,764

9,0319,2889,5849,86710,147

10,49410,82811,18511,53811,921

12,39712,80313,20313,61714,076

14,52514,93815,38815,80616,248

16,67517,08917,45717,77818,127

18,45118,75519,07119,36519,680

20,08720,48820,89221,34621,833

22,42022,95423,51324,06424,658

Note. —Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.



TABLE B-27.—Noninstitutional population and the labor force, 1929-79

[Monthly data seasonally adjusted, except as noted]

Year or month

1929

1933

1939

19401941194219431944

194519461947

194719481949

CO

CO

CO

CO

C

O

en en

en en

en

19551956195719581959

I9603

19611962319631964

19651966196719681969

1970197119723

1973 31974

19751976197719783

1979

Noninsti-tutionalpopula-tion1

ArmedForcesx

Civilian labor force

Total

Employment

Total Agri-cultural

Nonagri-cultural

Unem-ployment

Thousands of persons 14 years of age and over

100,380101,520102,610103,660104,630

105,530106,520107,608

260

250

370

5401,6203,9709,020

11,410

11,4403,4501,590

49,180

51,590

55,230

55,64055,91056,41055,54054,630

53,86057,52060,168

47,630

38,760

45,750

47,52050,35053,75054,47053,960

52,82055,25057,812

10,450

10,090

9,610

9,5409,1009,2509,0808,950

8,5808,3208,256

37,180

28,670

36,140

37,98041,25044,50045,39045,010

44,24046,93049,557

1,550

12,830

9,480

8,1205,5602,6601,070

670

1,0402,2702,356


103,418104,527105,611

106,645107,721108,823110,601111,671

112,732113,811115,065116,363117,881

119,759121,343122,981125,154127,224

129,236131,180133,319135,562137,841

140,182142,596145,775148,263150,827

153,449156,048158,559161,058163,620

1,5911,4591,617

1,6503,1003,5923,5453,350

3,0492,8572,8002,6362,552

2,5142,5722,8282,7382,739

2,7233,1233,4463,5353,506

3,1882,8162,4492,3262,229

2,1802,1442,1332,1172,088

59,35060,62161,286

62,20862,01762,13863,01563,643

65,02366,55266,92967,63968,369

69,62870,45970,61471,83373,091

74,45575,77077,34778,73780,734

82,71584,11386,54288,71491,011

92,61394,77397,401

100,420102,908

57,03858,34357,651

58,91859,96160,25061,17960,109

62,17063,79964,07163,03664,630

65,77865,74666,70267,76269,305

71,08872,89574,37275,92077,902

78,62779,12081,70284,40985,935

84,78387,48590,54694,37396,945

7,8907,6297,658

7,1606,7266,5006,2606,205

6,4506,2835,9475,5865,565

5,4585,2004,9444,6874,523

4,3613,9793,8443,8173,606

3,4623,3873,4723,4523,492

3,3803,2973,2443,3423,297

49,14850,71449,993

51,75853,23553,74954,91953,904

55,72257,51458,12357,45059,065

60,31860,54661,75963,07664,782

66,72668,91570,52772,10374,296

75,16575,73278,23080,95782,443

81,40384,18887,30291,03193,648

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,832

4,0884,9934,8404,3045,076

7,8307,2886,8556,0475,963

Unemploy-ment rate(percent

of civilianlabor

force)

Civilian labor forceparticipation rate2

Total Males Females

Percent

3.2

24.9

17.2

14.69.94.71.91.2

1.93.93.9

3.93.85.9

5.33.33.02.95.5

4.44.14.36.85.5

5.56.75.55.75.2

4.53.83.83.63.5

4.95.95.64.95.6

8.57.77.06.05.8

55.756.057.258.758.6

57.255.856.8

58.358.858.9

59.259.359.058.958.8

59.360.059.659.559.3

59.459.358.858.758.7

58.959.259.659.660.1

60.460.260.460.861.2

61.261.662.363.263.7

83.784.385.686.487.0

84.882.684.0

86.486.686.4

86.486.586.386.085.5

85.385.584.884.283.7

83.382.982.081.481.0

80.780.480.480.179.8

79.779.179.078.878.7

77.977.577.777.977.9

28.228.731.336.036.5

35.931.231.0

31.832.733.1

33.934.634.734.434.6

35.736.936.937.137.1

37.738.137.938.338.7

39.340.341.141.642.7

43.343.343.944.745.6

46.347.348.450.051.0



TABLE B-27.—Noninstitutional population and the labor force, 1929-79—Continued

[Monthly data seasonally adjusted, except as noted]

Year or month

1977:JanFebMarAprMayJune

JulyAugSeptOctNovDec

1978:Jan3

FebMarAprMayJune


1979:JanFebMar

MayJune


Noninsti-tutionalpopula-tion1

ArmedForces1

Civilian labor force

Total

Total

Employment

Agri-cultural

Nonagri-cultural

Unem-ployment


157,381157,584157,782157,986158,228158,456

158,68297,759

159,114159,334159,522159,736

159,937160,128160,313160,504160,713160,928

161,148161,348161,570161,829162,033162,250

162,448162,633162,909163,008163,260163,469

163,685163,891164,106164,468164,682164,898

2,1332,1372,1382,1322,1282,129

2,1352,1372,1312,1342,1322,129

2,1212,1242,1222,1182,1132,098

2,1162,1222,1232,1222,1172,108

2,0942,0942,0902,0822,0782,076

2,0822,0902,0922,0932,0922,089

95,68896,22596,54496,77697,15597,475

97,34497,75997,81298,13698,85998,758

99,11899,00999,28199,819

100,242100,458

100,656100,731100,944101,189101,610101,815

102,061102,379102,505102,198102,398102,476

103,093103,128103,494103,595103,652103,999

88,56688,95989,39789,84390,29190,429

90,60390,95891,17791,51492,22192,589

92,81392,92193,12893,76394,11694,556

94,42894,80294,97395,40195,72895,831

96,15796,49696,62396,25496,49596,652

97,18497,00497,50497,47497,60897,912

3,1423,1753,1813,2713,3963,288

3,2013,2133,1713,2363,3403,297

3,3883,2683,3153,2953,2983,415

3,3823,3453,3753,3773,2403,375

3,2603,3073,3203,2153,2463,243

3,2673,3153,3643,2943,3853,359

85,42485,78486,21686,57286,89587,141

87,40287,74588,00688,27888,88189,292

89,42589,65389,81390,46890,81891,141

91,04691,45791,59892,02492,48892,456

92,89793,18993,30393,03993,24993,409

93,91793,68994,14094,18094,22394,553

7,1227,2667,1476,9336,8647,046

6,7416,8016,6356,6226,6386,169

6,3056,0886,1536,0566,1265,902

6,2285,9295,9715,7885,8825,984

5,9045,8835,8825,9445,9035,824

5,9096,1245,9906,1216,0446,087

Unemploy-ment rate(percentof civilian

laborforce)

Civilian labor forceparticipation rate2

Total Males Females

Percent

7.47.67.47.27.17.2

6.97.06.86.76.76.2

6.46.16.26.16.15.9

6.25.95.95.75.85.9

5.85.75.75.85.85.7

5.75.95.85.95.85.9

61.661.962.062.162.262.4

62.262.462.362.462.862.7

62.862.762.863.063.263.2

63.363.363.363.463.563.6

63.663.863.763.563.563.5

63.863.763.963.863.863.9

77.377.677.577.577.677.8

77.677.777.377.878.078.0

77.977.777.877.877.977.9

77.877.877.777.878.078.0

78.278.278.177.977.877.7

77.977.778.077.777.677.6

47.647.948.148.348.448.5

48.448.648.848.649.248.9

49.349.149.349.750.050.1

50.350.250.450.450.550.6

50.650.850.950.650.750.7

51.151.251.251.351.351.5

1 Not seasonally adjusted.2 Civilian labor force as percent of civilian noninstitutional population.3 Not strictly comparable with earlier data due to population adjustments as follows: Beginning 1953, introduction of 1950 census

data added about 600,000 to population and about 350,000 to labor force, total employment, and agricultural employment. Beginning1960, inclusion of Alaska and Hawaii added about 500,000 to population, about 300,000 to labor force, and about 240,000 tononagricultural employment. Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force andemployment by about 200,000. Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutionalpopulation and about 333,000 to labor force and employment. A subsequent adjustment based on 1970 census in March 1973 added60,000 to labor force and to employment. Beginning 1978, changes in sampling and estimation procedures introduced into thehousehold survey added about 250,000 to labor force and to employment. Unemployment levels and rates were not significantlyaffected.

Note.—Labor force data in Tables B-27 through B-32 are based on household interviews and relate to the calendar week includingthe 12th of the month. For definitions of terms, area samples used, historic comparability of the data, comparability with other series,etc., see "Employment and Earnings."

Source.- Department of Labor, Bureau of Labor Statistics.


TABLE B-28.—Civilian employment and unemployment by sex and age, 1947-79

[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]

Year or month

Employment

Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

Unemployment

Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

194719481949

1950195119521953»1954

19551956195719581959

I960119611962l19631964

19651966196719681969

197019711972l1973»1974

1975197619771978»1979

1978:JanFebMar

fez:June

JulyAugSept \OctNovDec

1979:JanFebMar

liajZZZZZZZZJune

i««yAugSeptOctNovDec

57,03858,34357,651

58,91859,96160,25061,17960,109

62,17063,79964,07163,03664,630

65,77865,74666,70267,76269,305

71,08872,89574,37275,92077,902

78,62779,12081,70284,40985,935

84,78387,48590,54694,37396,945

92,81392,92193,12893,76394,11694,556

94,42894,80294,97395,40195,72895,831

96,15796,49696,62396,25496,49596,652

97,18497,00497,50497,47497,60897,912

40,99541,72540,925

41,57841,78041,68242,43041,619

42,62143,37943,35742,42343,466

43,90443,65644,17744,65745,474

46,34046,91947,47948,11448,818

48,96049,24550,63051,96352,518

51,23052,39153,86155,49156,499

54,91054,88454,97355,21155,40355,648

55,52955,66855,61155,82156,12356,087

56,32656,47656,44956,29456,37256,477

56,57056,40856,71456,62956,58056,734

2,2182,3452,124

2,1862,1562,1062,1351,985

2,0952,1642,1172,0122,198

2,3602,3142,3622,4062,587

2,9183,2523,1863,2553,430

3,4073,4703,7504,0174,074

3,8033,9044,1244,2794,326

4,2814,1914,2014,2124,2684,382

4,2934,3734,2954,3164,2794,226

4,3024,2654,2984,2454,2144,276

4,2454,0974,2614,1864,2064,256

38,77639,38238,803

39,39439,62639,57840,29639,634

40,52641,21641,23940,41141,267

41,54341,34241,81542,25142,886

43,42243,66844,29344,85945,388

45,55345,77546,88047,94648,445

47,42748,48649,73751,21252,264

50,62950,69350,77250,99951,13551,266

51,23651,29551,31651,50551,84451,861

52,02452,21152,15152,04952,15852,201

52,32552,31152,45352,44352,37452,478

16,04516,61716,723

17,34018,18118,56818,74918,490

19,55120,41920,71420,61321,164

21,87422,09022,52523,10523,831

24,74825,97626,89327,80729,084

29,66729,87531,07232,44633,417

33,55335,09536,68538,88240,446

37,90338,03738,15538,55238,71338,908

38,89939,13439,36239,58039,60539,744

39,83140,02040,17439,96040,12340,175

40,61440,59640,79040,84541,02841,178

1,6911,6831,588

1,5171,6111,6121,5841,490

1,5481,6541,6631,5701,640

1,7691,7931,8331,8491,929

2,1182,4692,4972,5252,686

2,7342,7252,9723,2193,329

3,2433,3653,4863,7023,748

3,5643,5463,5343,6493,7623,756

3,7433,8173,7503,7723,7693,800

3,8193,8233,8123,7443,7123,718

3,7413,5963,7153,7333,7803,776

14,35414,93715,137

15,82416,57016,95817,16417,000

18,00218,76719,05219,04319,524

20,10520,29620,69321,25721,903

22,63023,51024,39725,28126,397

26,93327,14928,10029,22830,088

30,31031,73033,19935,18036,698

34,33934,49134,62134,90334,95135,152

35,15635,31735,61235,80835,83635,944

36,01236,19736,36236,21636,41136,457

36,87337,00037,07537,11237,24837,402

2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,832

4,0884,9934,8404,3045,076

7,8307,2886,8556,0475,963

6,3056,0886,1536,0566,1265,902

6,2285,9295,9715,7885,8825,984

5,9045,8835,8825,9445,9035,824

5,9096,1245,9906,1216,0446,087

1,6921,5592,572

2,2391,2211,1851,2022,344

1,8541,7111,8413,0982,420

2,4862,9972,4232,4722,205

1,9141,5511,5081,4191,403

2,2352,7762,6352,2402,668

4,3853,9683,5883,0513,018

3,2283,1963,2123,0873,0502,882

2,9942,9442,9672,9692,9173,035

2,9972,9582,9722,9992,9412,893

3,0273,0833,0983,0983,1243,089

270255352

318191205184310

274269299416398

425479407500487

479432448427441

599691707647749

957928861799795

791835833813772711

804767787830807837

830820

811724

773797816781789786

1,4221,3052,219

1,9221,029

9801,0192,035

1,5801,4421,5412,6812,022

2,0602,5182,0161,9711,718

1,4351,1201,060

993963

1,6362,0861,9281,5941,918

3,4283,0412,7272,2522,223

2,4372,3612,3792,2742,2782,171

2,1902,1772,1802,1392,1102,198

2,1672,1382,1642,1902,1302,169

2,2542,2862,2822,3172,3352,303

619717

1,065

1,049834698632

1,188

9981,0391,0181,5041,320

1,3661,7171,4881,5981,581

1,4521,3241,4681,3971,429

1,8532,2172,2052,0642,408

3,4453,3203,2672,9962,945

3,0772,8922,9412,9693,0763,020

3,2342,9853,0042,8192,9652,949

2,9072,9252,9102,9452,9622,931

2,8823,0412,8923,0232,9202,998

144152223

195145140123191

176209197262256

286349313383386

395404391412412

506567595579660

795773781760733

763766770750781745

809766763712750737

712723698746754735

722737728773723741

475564841

854689559510997

823832821

1,2421,063

1,0801,3681,1751,2161,195

1,056921

1,078985

1,016

1,3471,6501,6101,4851,748

2,6492,5462,4862,2362,213

2,3142,1262,1712,2192,2952,275

2,4252,2192,2412,1072,2152,212

2,1952,2022,2122,1992,2082,196

2,1602,3042,1642,2502,1972,257

1 See footnote 3, Table B-27.Note.—See Note, Table B-27.Source: Department of Labor, Bureau of Labor Statistics.


TABLE 3-29.—Selected employment and unemployment data, 1948-79

[Percent;1 monthly data seasonally adjusted]

Year ormonth

19481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978JanFebMar

I :June


1979JanFebMar

MayJune


Unemployment rate l

Allworkers

385.9

5.33.33.02.95.54.44.14.36.85.5

5.56.75.55.75.24.53.83.83.63.5

4.95.95.64.95.68.57.77.06.05.8

6.46.16.26.16.15.9

6.25.95.95.75.85.9

5.85.75.75.85.85.7

5.75.95.85.95.85.9

By sex and age

Bothsexes16-19years

9213.4

12.28.28.57.6

12.611.011.111.615.914.6

14.716.814.717.216.214.812.812.812.712.2

15.216.916.214.516.019.919.017.716.316.1

16.517.117.216.616.215.2

16.715.816.216.016.216.4

16.016.015.716.316.515.4

15.816.616.216.415.916.0

Males20 yearsand over

325.4

4.72.52.42.54.93.83.43.66.24.7

4.75.74.64.53.93.22.52.32.22.1

3.54.44.03.23.86.75.95.24.24.1

4.64.54.54.34.34.1

4.14.14.14.03.94.1

4.03.94.04.03.94.0

4.14.24.24.24.34.2

Females20 yearsand over

365.3

5.14.03.22.95.54.44.24.16.15.2

5.16.35.45.45.24.53.84.23.83.7

4.85.75.44.85.58.07.47.06.05.7

6.35.85.96.06.26.1

6.55.95.95.65.85.8

5.75.75.75.75.75.7

5.55.95.55.75.65.7

By selected groups

Experi-enced

wage andsalary

workers

436.8

6.03.73.33.26.24.84.44.67.25.7

5.76.85.65.55.04.33.53.63.43.3

4.85.75.34.55.38.27.36.65.65.4

5.95.75.85.65.75.5

5.75.45.65.45.35.5

5.45.35.45.45.45.3

5.45.75.55.65.55.5

Marriedmen2

35

46151417402826285136

37463634282419181615

2.63.22.82.32.75.14.23.62.82.7

3.02.93.02.82.92.8

2.72.72.72.62.42.6

2.62.62.62.72.52.7

2.82.92.92.92.92.8

Womenwhohead

families

4 9 '4444

5.47.37.27.07.0

10.010.09.38.58.3

8.37.78.7

10.09.18.7

9.88.08.17.57.87.9

8.08.38.28.38.69.0

8.17.97.78.48.48.4

Full-timeworkers3

5.4

5.02.62.5

...........

3.83.74.07.2

""6.7"

5.54.94.23.53.43.13.1

4.55.55.14.35.18.17.36.55.55.3

5.95.75.75.55.65.3

5.75.45.45.25.25.3

5.25.25.25.35.25.2

5.35.45.35.45.45.4

Blue-collar

workers4

428.0

7.23.93.63.47.25.85.16.2

10.27.6

7.89.2747.36.35.34.24.44.13.9

6.27.46.55.36.7

11.79.48.16.96.9

7.47.27.26.76.76.7

6.86.76.96.76.46.7

6.56.56.66.96.86.6

6.87.37.17.27.57.2

Employment as percent ofpopulation5

Total

55 854.6

55.255.755.455.353.855.156.155.754.254.8

54.954.254.254.154.555.055.655.856.056.5

56.155.556.056.957.055.356.157.158.659.3

58.058.058.158.458.658.8

58.658.858.859.059.159.1

59.259.359.359.059.159.1

59.459.259.459.359.359.4

White

54.054.354.855.455.755.956.5

56.255.756.457.357.555.956.857.959.360.0

58.858.858.859.259.359.5

59.359.559.559.759.859.8

60.060.260.159.959.959.9

60.159.960.260.160.160.2

Blackand

other

55.256.156.857.256.956.656.7

55.553.753.053.953.050.050.651.153.353.6

52.452.952.953.053.253.4

53.253.553.853.853.753.6

53.453.453.853.253.353.5

54.153.854.053.953.753.4

1 Unemployment as percent of civilian labor force in group specified.2 Married men living with their wives. Data for 1949 and 1951-54 are for April; 1950, for March.3 Data for 1949-61 are for May.4 Includes craft and kindred workers, operatives, and nonfarm laborers. Data for 1948-57 are based on data for January, April, July,

and October.5 Civilian employment as percent of total noninstitutional population.Note.—See footnote 3 and Note, Table B-27.Source: Department of Labor, Bureau of Labor Statistics.

2372 9 4 - 2 8 9 0 - 8 0 - 1 6


TABLE B-30.—Unemployment rate by demographic characteristic, 1948-79

[Percent; * monthly data seasonally adjusted]

Year or month

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

1978JanFebMar

June


1979JanFebMar

MayJune


White

Total

3.55.6

493.12.82.75.0

3.93.63.86.14.8

4.96.04.95.04.6

4.13.33.43.23.1

4.55.45.04.35.0

7.87.06.25.25.1

5.55.45.35.35.35.0

5.35.15.25.05.05.1

5.04.95.05.05.04.9

5.05.35.15.15.15.1

Males

Total

3.45.6

4.72.6252.54.8

3.73.43.66.14.6

4.85.74.64.74.1

3.62.82.72.62.5

4.04.94.53.74.3

7.26.45.54.54.4

4.74.84.94.54.54.3

4.44.44.44.54.24.5

4.44.34.34.44.34.3

4.54.64.64.54.64.5

16-19years

13.4

11.310.511.515.714.0

14.015.713.715.914.7

12.910.510.710.110.0

13.715.114.212.313.5

18.317.315.013.513.9

13.114.214.013.712.711.8

13.513.113.214.313.314.4

14.013.813.813.914.412.6

13.614.914.413.814.113.7

20yearsandover

4.4

3.33.03.25.54.1

4.25.14.03.93.4

2.92.22.12.01.9

3.24.03.62.93.5

6.25.44.63.73.6

4.03.94.03.73.73.6

3.63.63.63.53.33.5

3.53.43.43.53.43.5

3.63.73.73.73.73.7

Females

Total

3.857

5.34.23.33.15.5

4.34.24.36.25.3

5.36.55.55.85.5

5.04.34.64.34.2

5.46.35.95.36.1

8.67.97.36.25.9

6.66.36.16.36.46.2

6.66.26.25.76.06.1

5.95.95.95.96.05.9

5.86.25.86.05.86.0

16-19years

10.4

9.19.79.5

12.712.0

12.714.812.815.114.9

14.012.111.512.111.5

13.415.114.213.014.5

17.416.415.914.413.9

14.715.015.014.814.813.2

14.514.314.513.314.313.9

13.613.413.413.914.013.8

13.914.714.114.413.814.1

20yearsandover

5.1

3.93.73.85.64.7

4.65.74.74.84.6

4.03.33.83.43.4

4.45.34.94.35.0

7.56.86.25.25.0

5.65.25.05.35.45.3

5.65.25.24.85.05.1

5.05.05.05.05.04.9

4.85.24.85.0495.0

Black and other

Total

5.98.9

9.05.35.44.59.9

8.78.37.9

12.610.7

10.212.410.910.89.6

8.17.37.46.76.4

8.29.9

10.08.99.9

13.913.113.111.911.3

12.911.812.511.812.311.9

12.511.611.511.211.711.4

11.311.811.311.711.511.2

11.011.010.811.510 911.3

Males

Total

5.89.6

9.44.95.24.8

10.3

8.87.98.3

13.711.5

10.712.810.910.58.9

7.46.36.15.65.3

7.39.18.97.69.1

13.712.712.410.910.3

12.211.211.211.111.310.4

10.710.610.510.110.910.5

10.310.910.810.610.310.0

10.19.89.8

10.510 210.5

16-19years

14 4

13.415.018.426.825.2

24.026.822.027.324.3

23.321.323.922.121.4

25.028.929.726.931.6

35.435.437.034.431.5

36.234.736.733.837.532.4

32.631.634.731.936.933.8

33.934.231.532.030.431.4

30.528.429.632.031133.2

20yearsandover

99

8.47.47.6

12.710.5

9.611.710.09.27.7

6.04.94.33.93.7

5.67.26.85.76.8

11.710.610.08.68.4

9.98.88.78.98.88.3

8.48.68.38.08.48.3

8.08.68.78.68.48.1

8.48.18.08.6848.6

Females

Total

6179

8461574192

8.58.97.3

10.89.4

9.411.911.011.210.7

9.28.79.18.37.8

9.310.811.310.510.7

14.013.614.013.112.3

13.612.514.012.513.413.5

14.412.612.512.412.712.4

12.412.711.812.912.812.5

11.912.411.912.511612.2

16-19years

20 6

19.222.820.228.427.7

24.829.230.234.731.6

31.731.329.628.727.6

34.435.438.534.534.6

38.539.039.938.435.7

42.641.241.136.637.940.6

41.036.336.336.535.635.6

31.935.631.636.842.535.9

32.737.535.438.434 635.4

20yearsandover

84

7.77.86.49.58.3

8.310.69.69.49.0

7.56.67.16.35.8

6.98.78.88.28.4

11.511.311.710.610.1

11.09.9

11.510.411.010.8

11.710.310.210.110.510.2

10.510.410.010.510.010.4

10.010.39.8

10.295

10.0

1 Unemployment as percent of civilian labor force in group specified.Note.—See footnote 3 and Note, Table B-27.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-31.—Unemployment by duration, 1947-79

[Monthly data seasonally adjusted1]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

1978JanFebMarAprMayJune


1979:JanFebMarMayJune

JulyAugsrNovDec

Totalunemploy-

ment Less than5 weeks

Duration of unemployment

5-14weeks

15-26weeks

27 weeksand over


2,3112,2763,637

3,2882,0551,8831,8343,532

2,8522,7502,8594,6023,740

3,8524,7143,9114,0703,786

3,3662,8752,9752,8172,832

4,0884,9934,8404,3045,076

7,8307,2886,8556,0475,963

6,3056,0886,1536,0566,1265,902

6,2285,9295,9715,7885,8825,984

5 9045,8835,8825,9445,9035,824

5,9096,1245,9906,1216,0446,087

1,2101,3001,756

1,4501,1771,1351,1421,605

1,3351,4121,4081,7531,585

1,7191,8061,6631,7511,697

1,6281,5731,6341,5941,629

2,1372,2342,2232,1962,567

2,8942,7902,8562,7932,869

2,7712,6712,8052,6992,9022,736

3,0052,7612,8072,7022,7972,858

2 7512,7792,7692,8762,8232,880

2,8203,1682,7782,9552,9192,916

704669

1,194

1,055574516482

1,116

815805891

1,3961,114

1,1761,3761,1341,2311,117

983779893810827

1,2891,5781,4591,2961,572

2,4522,1592,0891,8751,892

1,9001,8771,9081,8561,8241,933

1,8461,8951,8551,7881,8361,937

18811,8771,8601,8841,9191,808

1,9341,7382,0351,9631,8691,966

234193428

425166148132495

366301321785469

503728534535491

404287271256242

427665597475563

1,2901,003896746684

818882783795717709

684624684711683732

708700729687705656

615658644678660711

164116256

3571378478317

336232239667571

454804585553482

351239177156133

235517562337373

1,1931,3361,015633518

802656686668679619

646605608585518485

521539562536507496

452527508517531519

Average(mean)durationin weeks

8.610.0

12.19.78.48.011.8

13.011.310.513.914.4

12.815.614.714.013.3

11.810.48.88.47.9

8.711.312.010.09.7

14.115.814.311.910.8

13.012.612.412.412.012.1

11.911.511.511.811.110.6

11211.311.811.010.910.5

10.110.710.710.510.610.5

1 Because of independent seasonal adjustment of the various series, detail will not add to totals.Note.—See footnote 3 and Note, Table B-27.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-32.—Unemployment by reason, 1967-79

[Monthly data seasonally adjusted1]

196719681969

19701971197219731974

19751976197719781979


JulyAugSeptOctNovDec.

196719681969

19701971197219731974

19751976197719781979

1979JanFebMar

MayJune


Year or monthTotal

unemploy-ment

2,9752,8172,832

4,0884,9934,8404,3045,076

7,8307,2886,8556,0475,963

5,9045,8835,8825,9445,9035,824

5,9096,1245,9906,1216,0446,087

3.83.63.5

4.95.95.64.95.6

8.57.77.06.05.8

585.75.75.85.85.7

5.75.95.85.95.85.9

Job losers Job leavers

Thousands of persons 16 years o

1,2291,0701,017

1,8092,3132,0891,6662,205

4,3413,6253,1032,5142,555

2,4412,4752,4572,5202,3562,449

2,5262,6802,6322,7312,7292,728

438431436

549587635674756

812886889851854

900828864847940857

846875825835845800

Percent of civilian labor

1.61.31.2

2.22.82.41.92.4

4.73.83.22.52.5

2.42.42.42.52.32.4

2.52.62.52.62.62.6

06.5.5

.7

.7

.7

.8

.8

.9

.9

.9

.8

.8

.9

.8

.8

.8

.9

.8

.8

.8

.8

.8

.8

.8

Reentrants

f age and over

945909965

1,2271,4661,4441,3231,441

1,8651,8951,9261,8141,758

1,7211,7661,7661,7781,7671,753

1,7621,7881,7601,7621,6981,771

force

1.21.21.2

1.51.71.71.51.6

2.02.02.01.81.7

1.71.71.71.71.71.7

1.71.71.71.71.61.7

entrants

396407413

503627672642672

812882938867797

824858808800824781

726745801804736858

05.5.5

.6

.7

.8

.7

.7

.9

.91.0

.9

.8

.8

.8

.8

.8

.7

.7

.8

.8

.7

.8

1 Because of independent seasonal adjustment of the various series, detail will not add to totals.Note.—See footnote 3 and Note, Table B-27.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-33.—Unemployment insurance programs, selected data, 1946-79

Year or month

194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975197619771978"1979"1978-

JanFebMarAprMayJuneJulyAugSeptOctNovDec

1979JanFebMar

MayJuneJulyAugSeptOct"Nov" ....Dec"

All programs

Coveredemploy-ment1

Insuredunemploy-ment

(weeklyaver-

age)«»

Thousands

31,85633,87634,64633,09834,30836,33437,00638,07236,62240,01842,75143,43644,41145,72846,33446,26647,77648,43449,63751,58054,73956,34257,97759,99959,52659,37566,45869,89772,45171,03773,45976,419

8 88,804

2,8041,7931,4462,4741,6051,0001,0691,0672,0511,3991,3231,5713,2692,0992,0712,9941,946

71,9731,7531,4501,1291,2701,1871,1772,0702,6082,1921,7932,5584,9373,8463,3082,6452,619

3,7813,6383,2122,6592,3692,2972,5812,3942,0641,9992,1482,567

3,1983,2092,9212,6102,2302,1192,4292,3772,1642,2362,5593,034

Totalbenefitspaid

(millionsof

dollars)2 4

2,878.51,785.51,328.72,269.81,467.6

862.91,043.51,050.62,291.61,560.21,540.61,913.04,290.62,854.33,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.64,209.36,154.05,491.14,517.36,933.9

16,802.412,344.810,998.99,006.3

1,091.01,053.61,128.9

805.4753.9706.7663.8771.5595.6589.9605.6700.3

1,036.6972.1

1,043.0844.2793.2662.9715.1820.2656.1741.1

State programs

Insuredunem-

ployment

Initialclaims

Exhaus-tions5

Weekly average; thousands

1,295997980

1,9731,513

9691,044

9901,8701,2651,2151,4462,5261,6841,9082,2901,783

71,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623,9862,9912,6552,3592,460

2,4632,4992,4582,3072,2662,2742,3712,4182,2952,2462,2322,259

2,3452,3292,3362,3812,3072,3202,4092,4922,4882,5402 6432,631

189187200340236208215218304226111270369111331350302

7 298268232203226201200296295261247363478386375346388

348373344336332342356344328327332342

352346359433355380390394394402405416

382420373616181534252023503331463230262115171616253935293781635539

484646484240363433303336

4040444442393836353535

Insuredunemploy-ment as

percentof

coveredemploy-

ment

4.33.13.06.24.62.82.92.85.23.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.44.13.52.73.56.04.63.93.33.0

3.63.63.63.33.23.23.33.43.23.03.03.1

3.03.03.03.02.92.92.93.03.03.0313.1

Benefits paid

Total(millions

ofdollars)4

1,094.9775.1789.9

1,736.01,373.1

840.4998.2962.2

2,026.91,350.31,380.71,733.93,512.72,279.02,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.93,848.54,957.04,471.04,007.65,974.9

11,754.78,974.58,357.27,716.6

909.4918.8

1,001.5708.0639.8580.0557.0677.8521.0517.8554.1649.0

972.8915.1975.6777.7725.2610.3665.7765.0606.3673.9

Averageweeklycheck

(dollars)6

18.5017.8319.0320.4820.7621.0922.7923.5824.9325.0427.0228.1730.5830.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3453.2356.7659.0064.2570.2375.1678.7983.67

84.1085.8085.4884.3382.7081.6980.7781.5381.9083.4283.8986.14

88.2890.3190.2889.2888.3787.2586.4088.5689.1090.59

*Monthly data are seasonally adjusted.1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad Retirement Board)

programs. Beginning October 1958, also includes the UCX program (unemployment compensation for ex-servicemen).2 Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA

(Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and State extended benefitprograms. Does not include FSB (Federal supplemental benefits) and SUA (special unemployment assistance) programs.3 Covered workers who have completed at least 1 week of unemployment.4 Annual data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.

8 Latest data available for all programs combined. Workers covered by State programs account for about 94 percent of the total.Source: Department of Labor, Employment and Training Administration.


TABLE B-34.— Wage and salary workers in nonagricultural establishments, 1929-79

[Thousands of persons; monthly data seasonally adjusted]

Year or month

Totalwageand

salarywork-

ers

Manufacturing

TotalDurablegoods

Non-durablegoods

Mining Construc-tion

Transpor-tation

andpublic

utilities

Whole-saleand

retailtrade

Finance,insur-ance,andreal

estate

Services

Government

FederalStateandlocal

1929

1933

1939...

1960196119621963.,1964

1965.1966..1967.1968.1969..

19701971197219731974

31,324 10,702

194019411942 „19431944

19451946194719481949

19501951195219531954

19551956195719581959

19751976197719781979 p

23,699

30,603

32,36136,53940,10642,43441,864

40,37441,65243,85744,86643,754

45,19747,81948,79350,20248,990

50,64152,36952,85351,32453,268

54,18953,99955,54956,65358,283

60,76563,90165,80367,89770,384

70,88071,21473,67576,79078,265

76,94579,38282,42386,44689,497

7,397

10,278

10,98513,19215,28017,60217,328

15,52414,70315,54515,58214,441

15,24116,39316,63217,54916,314

16,88217,24317,17415,94516,675

16,79616,32616,85316,99517,274

18,06219,21419,44719,78120,167

19,36718,62319,15120,15420,077

18,32318,99719,68220,47620,979

4,715

5,3636,9688,823

11,08410,856

9,0747,7428,3858,3267,489

8,0949,0899,349

10,1109,129

9,5419,8339,8558,8299,373

9,4599,0709,4809,6169,816

10,40511,28211,43911,62611,895

11,20810,63611,04911,89111,925

10,68811,07711,59712,24612,694

5,564

5,6226,2256,4586,5186,472

6,4506,9627,1597,2566,953

7,1477,3047,2847,4387,185

7,3417,4117,3217,1167,303

7,3377,2567,3737,3807,458

7,6567,9308,0078,1558,272

8,1587,9878,1028,2628,152

7,6357,9208,0868,2308,285

1,087

744

854

925957992925892

836862955994930

901929898866791

792822828751732

712672650635634

632627613606619

623609628642697

752779813851958

1,512

824

1,165

1,3111,8142,1981,5871,108

1,1471,6832,0092,1982,194

2,3642,6372,6682,6592,646

2,8393,0392,9622,8173,004

2,9262,8592,9483,0103,097

3,2323,3173,2483,3503,575

3,5883,7043,8894,0974,020

3,5253,5763,8514,2714,642

3,916

2,672

2,936

3,0383,2743,4603,6473,829

3,9064,0614,1664,1894,001

4,0344,2264,2484,2904,084

4,1414,2444,2413,9764,011

4,0043,9033,9063,9033,951

4,0364,1584,2684,3184,442

4,5154,4764,5414,6564,725

4,5424,5824,7134,9275,154

6,123

4,755

6,426

6,7507,2107,1186,9827,058

7,3148,3768,9559,2729,264

9,3869,742

10,00410,24710,235

10,53510,85810,88610,75011,127

11,39111,33711,56611,77812,160

12,71613,24513,60614,09914,705

15,04015,35215,94916,60716,987

17,06017,75518,51619,49920,140

1,494

1,280

1,447

1,4851,5251,5091,4811,461

1,4811,6751,7281,8001,828

1,8881,9562,0352,1112,200

2,2982,3892,4382,4812,549

2,6292,6882,7542,8302,911

2,9773,0583,1853,3373,512

3,6453,7723,9084,0464,148

4,1654,2714,4674,7274,964

3,425

2,861

3,502

3,6653,9054,0664,1304,145

4,2224,6975,0255,1815,240

5,3575,5475,6995,8355,969

6,2406,4976,7086,7657,087

7,3787,6207,9828,2778,660

9,0369,498

10,04510,56711,169

11,54811,79712,27612,85713,441

13,89214,55115,30316,22017,047

533

565

905

9961,3402,2132,9052,928

2,8082,2541,8921,8631,908

1,9282,3022,4202,3052,188

2,1872,2092,2172,1912,233

2,2702,2792,3402,3582,348

2,3782,5642,7192,7372,758

2,7312,6962,6842,6632,724

2,7482,7332,7272,7532,773

2,532

2,601

3,090

3,2063,3203,2703,1753,116

3,1373,3413,5823,7873,948

4,0984,0874,1884.3404,563

4,7275,0695,3995,6485,850

6,0836,3156,5506,8687,248

7,6968,2208,6729,1029,437

9,82310,18510,64911,06811,446

11,93712,13812,35212,72312,840



TABLE B-34.— Wage and salary workers in nonagricultural establishments, 1929-79—Continued

[Thousands of persons; monthly data seasonally adjusted]

Year or month

Totalwageand

salarywork-

ers

Manufacturing

TotalDurablegoods

Non-durablegoods

Mininc Construc-tion

Transpor-tationand

publicutilities

4,6404,6524,6544,6794,7024,712

4,7194,7264,7564,7544,7694,781

4,7974,8294,8574,8954,9104,947

4,8994,9364,9415,0145,0385,054

5,0715,0945,1165,0245,1305,190

5,1695,1945,1805,2185,2275,224

Whole-saleand

retailtrade

18,06518,11718,21318,30918,39318,484

18,55118,63318,71018,78618,90018,981

19,07819,13819,22819,33319,41719,507

19,56219,61219,65319,74419,82919,858

19,96520,01620,05420,08820,12920,116

20,12220,12620,16920,24320,30320,300

Finance,insur-ance,andanorealreal

estate

4,3644,3744,4034,4234,4384,456

4,4674,4884,5114,5354,5614,583

4,6024,6354,6514,6724,6934,723

4,7434,7614,7744,7934,8274,847

4,8684,8844,8994,9154,9364,958

4,9725,0034,9975,0185,0415,070

Services

14,91914,94915,02515,09315,14715,230

15,30115,38615,52615,60615,67515,748

15,77715,86215,96616,06816,12416,196

16,23016,33516,42316,46416,55416,630

16,67016,76316,83316,88016,95417,051

17,09217,14117,19117,25717,31417,385

Government

Federal

2,7242,7242,7302,7242,7252,730

2,7212,7302,7282,7282,7272,725

2,7382,7392,7412,7472,7532,766

2,7632,7632,7552,7602,7572,734

2,7582,7572,7572,7582,7702,788

2,7852,8132,7622,7702,7712,787

Stateandlocal

12,20112,18212,19212,20312,25512,324

12,37712,39612,49112,50512,53612,557

12,59112,63912,69612,75912,79612,799

12,77912,75712,71912,70812,71512,738

12,71912,73812,75312,80612,82812,849

12,85012,88612,91112,90412,91112,948



1978:JanFebMar

May"!!!!!!!!!!!!."!!!June


1979:JanFebMar

May!!!!!!!!!!!!!!!!!!!!!!!June

JulyAugSeptOctNov.Dec".

80,56580,79481,23381,62281,98682,369

82,61682,84983,28783,54983,90884,125

84,42184,73585,24685,96186,22786,590

86,686

87,03287,42487,84088,133

88,43388,70089,03989,03689,39889,626

89,71389,76289,80389,98290,10990,426

19,27219,32419,45619,56819,65519,721

19,76119,78519,80519,85819,92720,055

20,14820,22620,31720,38920,41420,457

20,47420,47620,51120,63320,77220,881

20,95821,02521,07321,06621,05921,063

21,07920,95720,94920,89920,84620,954

11,30111,32011,42311,48511,55411,603

11,64911,68611,69911,74911,79411,896

11,97012,03012,08512,14412,16812,204

12,24712,26312,30812,41912,51012,583

12,64012,71512,75112,75212,73912,760

12,78612,71412,73712,65012,59712,660

7,9718,0048,0338,0838,1018,118

8,1128,0998,1068,1098,1338,159

8,1788,1968,2328,2458,2468,253

8,2278,2138,2038,2148,2628,298

8,3188,3108,3228,3148,3208,303

8,2938,2438,2128,2498,2498,294

801806819825827839

814802837840847696

691696710883882890

895899904910919922

927937940940944949

956968973979984999

3,5793,6663,7413,7983,8443,873

3,9053,9033,9233,9373,9663,999

3,9993,9714,0804,2154,2384,305

4,3414,3414,3524,3984,4294,469

4,4974,4864,6144,5594,6484,662

4,6884,6744,6714,6944,7124,759

Note.—Data in Tables B-34 through B-36 are based on reports from employing establishments and relate to full- and part-time wageand salary workers in nonagricultural establishments who worked during or received pay for any part of the pay period which includesthe 12th of the month.

Not comparable with labor force data (Tables B-27 through B-32), which include proprietors, self-employed persons, domesticservants, and unpaid family workers; which count persons as employed when they are not at work because of industrial disputes, badweather, etc., even if they are not paid for the time off; and which are based on a sample of the working-age population, whereas theestimates in this table are based on reports from employing establishments.

For description and details of the various establishment data, see "Employment and Earnings."

Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-35.—Average weekly hours and hourly earnings in selected private nonagricultural industries,

1947-79

[For production or nonsupervisory workers; monthly data seasonally adjusted]

Year or month

Average weekly hours

Totalprivate

non-agricul-turaM

Manufac-turing

Con-struction

Whole-saleand

retailtrade

Average gross hourly earnings,current dollars

Totalprivate

non-agricul-tural >

Manufac-turing

Con-struction

Whole-saleand

retailtrade

Adjusted hourly earnings, totalprivate nonagriculturalz

Index,1967 = 100

Currentdollars dollars3

1967

Percent changefrom a year

earlier4

Currentdollars dollars

1967

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 "


JulyAug.SeptOctNovDec

1979:JanFebMar

\Hvi~IZZ.June

JulyAugSeptOctNov"Dec"

40.340.039.4

39.839.939.939.639.1

39.639.338.838.539.0

38.638.638.738.838.7

38.838.638.037.837.7

37.136.937.036.936.5

36.136.136.035.835.7

35.535.735.936.035.935.935.935.835.835.835.835.8

35.835.735.935.335.735.6

35.635.635.735.635.735.7

40.440.039.1

40.540.640.740.539.6

40.740.439.839.240.3

39.739.840.440.540.7

41.241.440.640.740.6

39.839.940.540.740.0

39.540.140.340.440.2

39.640.040.540.740.440.540.540.440.540.540.640.6

40.640.640.639.140.240.1

40.240.140.240.240.140.3

38.238.137.7

37.438.138.937.937.2

37.137.537.036.837.0

36.736.937.037.337.2

37.437.637.737.337.9

37.337.236.536.836.6

36.436.836.536.836.9

35.135.836.336.936.637.237.237.037.036.936.837.0

37.136.637.135.537.137.2

36.837.237.536.636.837.1

40.540.440.5

40.540.540.039.539.5

39.439.138.738.638.8

38.638.338.238.137.9

37.737.136.636.135.7

35.335.134.934.634.2

33.933.733.332.932.6

32.832.833.032.932.932.932.932.832.832.932.832.8

32.532.532.732.832.632.6

32.632.532.632.632.732.6

$1,1311.2251.275

1.3351.451.521.611.65

1.711.801.891.952.02

2.092.142.222.282.36

2.462.562.682.853.04

3.233.453.703.944.24

4.534.865.255.696.16

5.475.505.545.615.635.675.725.745.785.845.875.92

5.966.006.046.046.096.13

6.186.226.266.286.336.39

$1,2161.3271.376

1.4391.561.641.741.78

1.851.952.042.102.19

2.262.322.392.452.53

2.612.712.823.013.19

3.353.573.824.094.42

4.835.225.686.176.69

5.945.986.016.066.096.136.196.216.266.336.386.43

6.466.516.566.566.656.68

6.726.746.786.826.876.91

$1,5401.7121.792

1.8632.022.132.282.38

2.452.572.712.822.93

3.073.203.313.413.55

3.703.894.114.414.79

5.245.696.066.416.81

7.317.718.108.659.25

8.328.368.468.488.578.638.668.738.778.788.858.88

8.949.069.039.119.209.19

9.279.329.399.389.459.48

$0,9401.0101.060

1.1001.181.231.301.35

1.401.471.541.601.66

1.711.761.831.891.97

2.042.142.252.412.56

2.722.883.053.233.48

3.733.974.284.675.06

4.524.514.544.604.614.644.684.714.754.794.814.85

4.924.934.964.995.005.03

5.075.105.125.145.195.22

42.646.048.2

50.053.756.459.661.7

63.767.070.373.275.8

78.480.883.585.988.2

91.295.3

100.0106.2113.2

120.7129.2137.5146.0157.5

170.6183.0196.8212.9229.8

205.9206.6208.1210.1211.1212.4214.0214.9216.5218.1219.2220.9

222.6224.0225.2226.8227.5229.0

230.9232.2234.3234.9237.1239.1

63.763.867.5

69.369.070.974.476.6

79.482.383.484.586.8

88.490.292.293.795.0

96.698.0

100.0101.9103.1

103.8106.5109.7109.7106.7

105.9107.3108.4109.0105.6

109.8109.4109.4109.5109.1108.9109.1108.9108.9108.7108.6108.7

108.5107.8107.3106.9106.1105.7

105.6105.1104.9104.2104.1103.8

8.04.8

3.77.45.05.73.5

3.25.24.94.13.6

3.43.13.32.92.7

3.44.54.96.26.6

6.67.06.46.27.9

8.37.37.58.27.9

7.87.77.98.28.08.18.28.38.48.38.38.5

8.18.48.28.07.87.8

7.98.18.27.78.28.2

0.25.8

2.7- . 42.84.93.0

3.73.71.31.32.7

1.82.02.21.61.4

1.71.42.01.91.2

.72.63.0

.0- 2 .7

- . 71.31.0

.6- 3 . 1

1.01.21.21.4.8.7.5.4.1

- . 5- . 5- . 5

- 1 . 2- 1 . 5- 2 . 0- 2 . 4- 2 . 8- 2 . 9

- 3 . 2- 3 . 5- 3 . 6-4 .1- 4 . 1- 5 . 3

1 Also includes other private industry groups shown in Table B-34.2 Adjusted for overtime (in manufacturing only) and for interindustry employment shifts.3 Current dollar earnings index divided by the consumer price index (revised index for urban wage earners and clerical workers used

ieginning 1978).4 Monthly data are computed from indexes to two decimal places.

Note.—See Note, Table B-34.



TABLE B-36.—Average weekly earnings in selected private nonagricultural industries, 1947-79

[For production or nonsupervisory workers; monthly data seasonally adjusted]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977 .19781979'

1978.JanFebMar

tJuneJulyAuga*NovDec


JulyAugSeptoct ::.:::: :.::.:::::::::::::::::::::::::Nov"Dec"

Average gross weekly earnings

Total privatenonagriculturall

Currentdollars

$45.5849.0050.24

53.1357.8660.6563.7664.52

67.7270.7473.3375.0878.78

80.6782.6085.9188.4691.33

95.4598.82

101.84107.73114.61

119.83127.31136.90145.39154.76

163.53175.45189.00203.70219.91

194.19196.35198.89201.96202.12203.55

205.35205.49206.92209.07210.15211.94

213 37214.20216.84213.21217.41218 23

220.01221.43223.48223.57225 98228.12

1967dollars2

$68.1367.9670.36

73.6974.3776.2979.6080.15

84.4486.9086.9986.7090.24

90.9592.1994.8296.4798.31

101.01101.67101.84103.39104.38

103.04104.95109.26109.23104.78

101.45102.90104.13104.30101.02

103.51104.00104.57105.30104.51104.38

104.66104.15104.03104.22104.14104.30

103 98103.13103.31100.48101.40100 75

100.60100.24100.0499.1999 2499.05

Manufac-turing

(currentdollars)

$49.1353.0853.80

58.2863.3466.7570.4770.49

75.3078.7881.1982.3288.26

89.7292.3496.5699.23

102.97

107.53112.19114.49122.51129.51

133.33142.44154.71166.46176.80

190.79209.32228.90249.27268.94

235.22239.20243.41246.64246.04248.27

250.70250.88253.53256.37259.03261.06

262 28264.31266.34256.50267.33267 87

270.14270.27272.56274.16275 49278.47

Construc-tion

(currentdollars)

$58.8365.2367.56

69.6876.9682.8686.4188.54

90.9096.38

100.27103.78108.41

112.67118.08122.47127.19132.06

138.38146.26154.95164.49181.54

195.45211.67221.19235.89249.25

266.08283.73295.65318.32341.33

292.03299.29307.10312.91313.66321.04

322.15323.01324.49323.98325.68328.56

33167331.60335.01323.41341.3234187

341.14346.70352.13343.31347 76351.71

Wholesaleand retail

(currentdollars)

$38.0740.8042.93

44.5547.7949.2051.3553.33

55.1657.4859.6061.7664.41

66.0167.4169.9172.0174.66

76.9179.3982.3587.0091.39

96.02101.09106.45111.76119.02

126.45133.79142.52153.64164.96

148.26147.93149.82151.34151.67152.66

153.97154.49155.80157.59157.77159.08

159 90160.23162.19163.67163.00163 98

165.28165.75166.91167.56169 71170.17

Percent change froma year earlier, total

privatenonagricultural3

Currentdollars

7.52.5

5.88.94.85.11.2

5.04.53.72.44.9

2.42.44.03.03.2

4.53.53.15.86.4

4.66.27.56.26.4

5.77.37.77.88.0

7.56.38.08.57.58.1

8.38.38.28.38.68.9

929.48.65.67.872

7.27.88.17.1727.4

1967dollars

- 0 . 23.5

4.7.9

2.64.3

5.42.9

.1- . 34.1

.81.42.91.71.9

2.7.7.2

1.51.0

- 1 . 31.94.1

- . 0- 4 . 1

- 3 . 21.41.2.2

- 3 . 1

.7- . 01.51.8.4.7

.5

.4- . 0- . 4- . 2

1

.5- 1 . 6- 4 . 6- 2 . 8

34

3.9- 3 . 8

3.8- 4 . 8

49- 5 . 3

1 Also includes other private industry groups shown in Table B-34.2 Earnings in current dollars divided by the consumer price index (revised index for urban wage earners and clerical workers used

beginning 1978).3 Based on unadjusted data.Note.—See Note, Table B-34.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-37.—Productivity and related data, private business sector. 1947-79

[1967 = 100; quarterly data seasonally adjusted]

Year orquarter

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 "

1977:1IIIllIV

1978:IIIIllIV

1979:1IIIllIV

Output >

Privatebusinesssector

48.750.950.0

54.657.859.562.060.9

65.767.668.567.071.9

73.274.278.882.386.9

92.998.1

100.0105.1108.3

107.3110.3117.5124.4121.4

118.7126.4133.8140.7144.0

131.0132.8135.2136.1

136.9140.3141.8144.0

144.4143.4143.8144.4

Nonfarmbusinesssector

47.549.648.7

53.356.858.560.959.7

64.666.667.665.971.1

72.273.378.181.686.5

92.698.1

100.0105.3108.5

107.4110.2117.8124.9121.8

118.8126.9134.3141.5144.8

131.7133.4135.6136.4

137.3141.1142.7145.0

145.5144.2144.6145.2

Hours of allpersons2


90.991.588.5

89.592.192.293.290.1

93.594.993.589.392.8

92.991.592.993.494.9

97.8100.0100.0101.8104.6

103.0102.4105.5109.6110.3

105.6108.6112.8118.1122.0

110.6112.6113.2114.5

115.6117.9118.4120.2

121.5121.3122.0123.1


79.180.477.3

79.783.484.386.483.5

86.989.188.785.088.7

89.388.390.291.193.2

96.599.8

100.0102.1105.5

104.2103.8107.0111.5112.3

107.4111.0115.6121.1125.4

113.2115.2116.2117.3

118.4121.1121.6123.4

124.8124.9125.7126.4

Output per hour ofall persons


53.655.656.5

61.062.764.566.567.6

70.371.273.275.177.5

78.781.184.888.191.6

95.098.0

100.0103.3103.5

104.2107.7111.4113.6110.1

112.4116.4118.6119.2118.1

118.5117.9119.4118.8

118.4119.0119.7119.8

118.9118.2117.8117.3


60.161.763.0

66.968.169.470.471.5

74.374.776.277.580.1

80.983.086.689.692.8

95.998.4

100.0103.2102.9

103.0106.2110.1112.0108.5

110.5114.4116.2116.8115.5

116.4115.8116.7116.3

116.0116.5117.3117.6

116.6115.4115.0114.9

Compensation perhour3


36.039.039.7

42.446.649.652.854.5

55.859.563.466.269.0

71.974.678.181.085.3

88.794.9

100.0107.6114.9

123.1131.4139.7151.2164.9

181.3197.2213.0231.2252.8

207.7210.8215.3218.5

224.2228.5233.6238.4

244.8250.3255.6260.0


38.441.742.9

45.449.452.155.056.7

58.762.365.968.371.1

74.276.679.782.586.3

89.494.8

100.0107.3114.1

121.7129.9138.4149.2162.8

178.9193.8209.3227.3247.6

204.1207.3211.2214.8

220.6224.6229.4234.3

240.2244.8249.9255.2

Unit labor cost


67.170.170.2

69.674.376.879.380.6

79.483.586.588.189.0

91.392.092.092.093.1

93.396.8

100.0104.1111.0

118.2122.0125.4133.1149.8

161.3169.4179.6194.0214.1

175.2178.8180.2183.8

189.4192.1195.2199.0

205.9211.7217.0221.5


63.967.668.1

67.972.575.178.179.4

79.183.486.488.188.7

91.792.392.092.193.0

93.296.4

100.0104.0110.9

118.1122.3125.7133.2150.0

161.8169.4180.1194.5214.4

175.4179.0180.9184.7

190.2192.7195.6199.3

206.0212.1217.3222.2

Implicit pricedeflator4


65.170.669.8

70.876.077.177.978.6

79.882.284.886.488.1

89.389.890.691.492.7

94.297.2

100.0103.9108.8

113.9118.9123.2130.3143.1

157.5165.5174.8187.2203.8

170.5173.9176.0178.6

180.9185.8188.9192.9

197.2202.0206.1210.0


62.367.568.0

69.173.675.276.877.8

79.481.984.685.988.0

89.289.890.591.592.9

94.196.8

100.0104.0108.7

114.0119.2122.9127.9141.4

156.4164.8174.5186.1202.2

169.8173.6176.2178.3

180.2184.7187.8191.4

195.1200.3204.7208.9

1 Output refers to gross domestic product originating in the sector in 1972 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily on

establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes an

estimate of wages, salaries, and supplemental payments for the self-employed.4 Current dollar gross domestic product divided by constant dollar gross domestic product.



TABLE B-38.—Changes in productivity and related data, private business sector, 1948-79

[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]

Voor nrTear orquarter

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979"

19771IIIIIIV

19781IIIIIIV

19791IIIIIIV "

Outputx


4.5- 1 . 8

9.25.93.04.1

-1 .7

8.02.81.3

-2 .17.3

1.81.46.24.45.6

7.05.52.05.13.0

-.92.86.65.9

- 2 . 4

- 2 . 36.55.85.22.3

10.55.47.62.5

2.410.54.26.4

1.2- 2 . 9

1.11.8


4.4-1 .8

9.46.53.04.1

- 2 . 0

8.23.01.5

- 2 . 57.9

1.61.56.54.55.9

7.16.01.95.33.0

-1 .12.66.96.0

-2 .5

- 2 . 56.95.85.42.3

11.15.36.62.4

2.711.54.56.8

1.2-3 .6

1.21.7

Hours of allpersons2


0.7- 3 . 3

1.12.9

.11.0

- 3 . 3

3.81.5

- 1 . 5- 4 . 5

3.9

.2- 1 . 6

1.6.5

1.5

3.12.3

.01.82.8

- 1 . 6- .63.03.9

.7

- 4 . 32.93.94.73.3

5.77.62.14.6

3.98.41.76.1

4.4- . 72.43.5


1.6- 3 . 8

3.14.61.02.5

- 3 . 4

4.12.5

-.5-4 .1

4.4

.6- 1 . 1

2.11.12.3

3.63.3

.22.13.4

-1 .2_ 4314.2

.7

-4 .33.34.14.83.6

5.87.23.44.0

3.69.41.85.9

4.6.5

2.62.1

Output per hour ofall persons


3.81.6

7.92.82.83.11.6

4.01.32.82.53.2

1.63.14.53.84.0

3.83.22.03.3

.2

.73.33.51.9

- 3 . 0

2.13.51.9

.5-.9

4.6- 2 . 1

5.4- 2 . 0

- 1 . 52.02.4

.3

- 3 . 0- 2 . 2- 1 . 3- 1 . 6


2.72.1

6.11.81.91.51.5

4.0.5

2.01.83.3

1.02.64.33.43.6

3.42.51.63.2

-.3

.13.13.71.7

-3 .1

1.93.51.6

.5- 1 . 2

5.1- 1 . 8

3.1- 1 . 5

- . 91.92.7

.8

-3 .2-4 .1- 1 . 4- . 4

Compensation perhour3


8.51.6

7.09.86.46.53.2

2.56.56.54.44.3

4.23.84.63.85.3

4.07.05.37.66.8

7.16.76.38.29.1

9.98.88.08.59.3

8.26.28.76.1

10.97.99.28.5

11.19.38.86.9


8.63.0

5.88.75.55.63.1

3.66.05.73.84.0

4.43.34.03.54.6

3.56.15.57.36.3

6.76.76.57.89.1

9.98.38.08.68.9

8.76.47.77.0

11.47.58.88.8

10.47.98.58.9

Unit labor cost


4.5.1

- . 96.83.43.31.5

- 1 . 55.23.61.91.0

2.6.7.1

- .11.2

.23.83.34.16.6

6.43.32.86.2

12.5

7.75.06.08.0

10.4

3.48.53.18.3

12.65.86.68.1

14.611.810.38.7


5.7.8

— 36̂ 83.54.01.6

-.45.53.62.0

.7

3.4.6

- .3.1

1.0

.13.53.84.06.7

6.53.52.86.0

12.7

7.94.76.38.0

10.2

3.48.44.58.6

12.45.46.08.0

14.012.510.19.3

Implicit pricedeflator*


8.4-1 .1

1.57.31.5

.1.0.9

1.53.03.21.82.0

1.4.6.9.9

1.4

1.63.22.93.94.7

4.74.43.65.89.8

10.15.05.67.18.9

5.28.44.76.1

5.311.26.98.7

9.310.18.37.8


8.3.8

1.66.52.12.11.3

2.13.23.31.52.4

1.4.6.8

1.01.5

1.32.93.34.04.5

4.94.53.14.1

10.5

10.65.45.96.68.7

4.19.16.24.8

4.410.27.07.8

8.111.09.08.4

1 Output refers to gross domestic product originating in the sector in 1972 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily onestablishment data.

3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, and supplemental payments for the self-employed.4 Current doffar gross domestic product divided by constant dollar gross domestic product.

Note.—Percent changes are based on original data and therefore may differ slightly from percent changes based on indexes in TableB—37.



PRODUCTION AND BUSINESS ACTIVITY

TABLE B-39.—Industrial production indexes, major industry divisions, 1929-79

[1967 = 100; monthly data seasonally adjusted]

Year or month

1967 proportion

192919331939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 *



1979JanFebMar

MayJune

JulyAugSeptOctNovDec"

Totalindustrialproduction

100.00

21.613.721.7

25.031.636.344.047.440.735.039.441.138.8

44.948.750.654.851.958.561.161.957.964.8

66.266.772.276.581.789.897.8100.0106.3111.1

107.8109.6119.7129.8129.3117.8130.5138.2146.1152.2

140.0140.3142.1144.4144.8146.1

147.1148.0148.6149.7150.6151.8

151.5152.0153.0150.8152.4152.6

152.8151.6152.4152.2151.8152.2

Total

87.95

22.814.021.5

25.432.437.847.050.942.635.339.440.938.7

45.048.650.655.251.558.260.561.257.064.2

65.465.671.575.881.089.797.9100.0106.4111.0

106.4108.2118.9129.8129.4116.3130.3138.4146.8153.3

140.4140.7142.7144.9145.2146.4

147.7148.6149.6150.7151.6152.9

152.5153.3154.5151.6153.8153.9

154.1152.4153.5153.2152.6153.1

Manufacturing

Durable

51.98

22.59.117.7

23.531.439.954.259.945.231.637.739.335.7

43.548.951.958.751.859.261.161.653.961.9

62.961.868.673.178.389.098.9100.0106.5110.6

102.3102.4113.7127.1125.7109.3122.3130.0139.7146.3

132.1132.3135.0137.6137.9139.0

141.1141.8142.9144.6145.5146.8

146.8147.2148.6144.6147.6147.6

147.2144.2145.9145.8144.7144.8

Nondurable

35.97

23.219.926.1

27.533.334.637.138.638.539.741.342.742.0

46.748.349.251.251.657.260.161.161.667.7

69.371.575.880.085.290.996.7100.0106.2111.5

112.3116.6126.5133.8134.6126.4141.8150.5156.9163.3

152.4152.9153.8155.5155.8157.0

157.2158.4159.3159.5160.4161.7

160.7162.0163.0161.7162.8163.0

164.1164.3164.6163.9164.2165.1

Mining

6.36

43.130.642.1

46.849.751.352.556.255.154.261.364.457.1

63.870.069.471.269.977.982.082.175.378.7

80.380.883.186.489.993.298.2100.0104.2108.3

112.2109.8113.1114.7115.3112.8114.2118.2124.0125.1

114.5114.4119.5125.5126.5127.4

127.1126.2124.4127.9128.0127.4

123.8120.9122.3122.7122.8123.9

124.7126.4125.8127.8129.2130.8

Utilities

5.69

7.46.7

10.7

11.813.314.916.517.517.818.620.122.423.9

27.231.033.736.539.343.948.251.553.959.3

63.467.072.077.083.688.795.5100.0108.4117.3

124.5130.5139.4145.4143.7146.0151.7156.5161.4165.6

160.2159.9158.4158.5159.5160.6

162.0162.2163.0163.2163.7164.7

166.2167.7167.1167.4166.5164.2

164.8165.5165.3164.8164.6164.7

1 Preliminary estimates by Council of Economic Advisers.Source: Board of Governors of the Federal Reserve System, except as noted.


TABLE B-40.—Industrial production indexes, market groupings, 1947-79

[1967=100; monthly data seasonally adjusted]

Year or month

1967 proportion

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 4



1979JanFebMar

tJune


Totalindustrial

production

100.00

39.441.138.8

44.948.750 654.851.9

58.561.161.957.964.8

66.266.711176.581.7

89.897.8

100.0106.3111.1

107.8109.6119.7129.8129.3

117.8130.5138.2146.1152.2

140.0140.3142.1144.4144.8146.1

147.1148.0148.6149.7150.6151.8

151.5152.0153.0150.8152.4152.6

152.8151.6152.4152.2151.8152.2

Final products

Total

47.82

38.640.038.8

43 747.250 754.151.3

55.458.660.357.663.2

65.365.871.475.579.7

87.695.9

100.0106.2109.6

105.3106.3115.7124.4125.1

118.2127.6135.9142.2147.0

136.0137.3139.9141.6141.4142.1

143.2144.2144.5145.1145.3146.1

146.1146.8148.2145.4147.8147.6

147.1145.6147.2146.8146.6147.3

Consumer goods1

Total

27.68

42.443.743.4

49.649.150 253.252.9

59.061.262.662.168.1

70.772.277.181.385.9

92.697.3

100.0105.9109.8

109.0114.7124.4131.5128.9

124.0137.1145.3149.1150.5

143.2145.2147.5149.5149.0149.3

149.8150.6150.8151.2151.3151.5

150.6151.5152.9149.1152.0151.8

150.8148.2149.7149.6148.9149.1

Auto-motive

products

2.83

45.347.447.0

59.152.347.159.555.4

73.660.663.550.563.3

72.566.180.187.791.9

113.3112.8100.0119.4118.1

98.8124.4141.4153.0132.8

125.8155.7175.6179.9168.2

157.6163.9176.4185.9181.2181.6

183.8183.5179.5187.6190.2186.9

181.4179.3186.8163.0182.7175.9

170.3147.3157.6159.5151.6146.0

Homegoods

5.06

37.539.136.2

49.943.043.048.644.9

53.055.754.551.459.0

59.461.366.571.878.4

88.997.9

100.0106.4113.2

110.2115.6129.5142.5136.8

118.8134.1141.9147.7148.6

141.8144.5147.1149.2148.4149.6

150.0149.2149.9148.6147.6147.7

148.6150.9150.6145.2148.1148.8

149.8147.7148.5148.4148.1148.6

Equipment2

Total

20.14

30.632.228.7

31.143.351.956.349.3

50.455.357.551.556.5

58.157.363.767.571.4

80.794.0

100.0106.5109.3

100.194.7

103.8114.5120.0

110.2114.6123.0132.8142.2

126.1126.5129.4130.7131.0132.3

134.0135.3135.9136.6137.1138.6

139.9140.4141.7140.4141.9141.9

142.1141.8143.9143.0143.5144.8

Business

12.63

38.039.534.5

37 045.251253.346.8

50.858.861.151.557.9

59.457.762.765.873.7

84.497.7

100.0105.5112.5

107.0104.1118.0134.2142.4

128.2135.4147.8160.3171.2

152.0153.6156.5158.0158.4160.1

161.7163.4163.8164.8165.0166.8

168.1169.0170.8168.7171.4171.5

171.4171.5173.6171.7172.1173.8

Inter-mediateproducts

12.89

41.944.342.0

48 851.350 954.554.3

61.764.464.463.069.5

70.071.475.779.985.2

90.696.2

100.0106.3112.9

112.9116.7126.5137.2135.3

123.1137.2145.1154.1159.9

150.5150.2150.4152.0152.4154.0

154.7155.6155.6156.4157.8159.9

160.8161.4160.4159.7159.5159.5

159.4160.6159.8159.6159.6159.5

Materials3

Total

39.29

39.541.237.6

45.049.850 556.151.8

61.362.862.856.565.2

66.166.272.176.782.9

92.4100.7100.0106.5112.5

109.2111.3122.3133.9132.4

115.5131.7138.6148.3155.9

141.3140.7142.2145.4146.5148.3

149.3150.2151.2153.2154.5156.2

155.0155.2156.3154.5155.7156.5

157.6156.0156.3156.4155.6155.8

Durablegoods

20.35

38.339.435.3

44.450.551.660.352.0

63.763.963.853.764.0

64.863.370.475.181.9

93.8103.3100.0106.2112.1

103.8104.9117.7134.6132.7

109.1128.0136.1149.0157.7

140.7139.7141.1144.7145.5147.7

150.5151.9153.4155.5157.0159.5

158.1158.0159.2155.7157.9159.5

160.7157.7157.6157.4155.5155.3

Non-durablegoods

10.47

45.9

52.554.954.754.462.1

63.265.871.375.682.2

90.397.5

100.0108.8115.7

115.4120.2132.9142.2142.6

126.6147.8155.6165.6174.8

158.7161.0162.9164.6164.8166.3

164.5165.3167.8168.8170.2171.9

171.0172.4173.1173.0173.8173.4

174.6175.8176.7177.2177.2178.7

1 Also includes clothing and consumer staples, not shown separately.2 Also includes defense and space equipment, not shown separately.3 Also includes energy materials, not shown separately.4 Preliminary estimates by Council of Economic Advisers.Source: Board of Governors of the Federal Reserve System, except as noted.


TABLE B-41.—Industrial production indexes, selected manufactures, 1947-79

[1967 = 100; monthly data seasonally adjusted]

Year or month

Durable manufactures

Primarymetals

TotalIronand

steel

Fabri-catedmetalprod-ucts

Non-elec-trical

machin-ery

Electri-cal

machin-ery

Transportationequipment

TotalMotor

vehiclesand

parts

Lumberand

prod-ucts

Nondurable manufactures

Apparelprod-ucts

Printingand

publish-ing

Chem-icalsand

prod-ucts

Foods

1967 proportion..

1947..19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979»

6.57 4.21 5.93 9.15 8.05 9.27 450 1.64 3.31 4.72 7.74 8.75

1978:JanFeb..Mar.MayJune.

July.AugSeptOctNov.Dec


JulyAugSeptOctNov"Dec"

63.365.855.4

69.775.869.278.563.5

82.582.078.562.372.7

72.471.176.382.392.8

102.1108.4100.0104.3113.8

106.6100.2112.1126.7123.1

96.4109.7111.1119.9121.5

110.4107.7108.0115.5116.0118.3

122.5124.9127.4129.4130.8132.1

123.4120.4123.7121.7121.0124.3

127.1121.0121.7118.7117.6117.5

70.1

93.291.588.266.576.5

77.774.277.384.395.9

105.2108.4100.0103.2112.6

104.796.1

107.1122.3119.8

95.8104.8103.8113.2113.9

102.697.398.4

110.2111.0113.1

116.5118.3121.3123.8124.4125.3

113.3110.8116.2115.8114.3118.1

119.0112.0115.0109.4108.9

49.950.845.8

56.159.958.566.059.4

67.868.870.663.371.0

71.169.475.477.882.6

90.897.2

100.0105.6107.9

102.4103.5112.1124.7124.2

109.9123.9131.0141.6148.6

136.4136.6137.6139.0140.2141.1

142.8143.7144.2144.9145.6147.1

149.1150.8150.2148.8150.3149.3

149.3147.6146.5147.5146.4147.4

39.039.233.4

37.547.751.954.046.1

50.658.057.948.656.7

56.955.462.166.375.6

85.098.8

100.0101.8109.3

104.4100.2116.0133.7140.1

125.1134.5143.6153.6163.7

148.2148.9149.8150.6151.4152.9

154.7155.5156.4157.5157.8158.1

161.2162.9164.0161.8164.3164.5

165.3166.2165.1162.3162.6163.3

22.223.021.6

29.629.834.039.034.7

39.943.142.839.247.6

51.654.862.964.768.4

81.797.9

100.0105.5111.9

108.1107.7122.2143.1143.8

116.5134.8145.4159.4174.6

149.5150.9154.4156.8157.6158.8

162.5161.5163.3164.2165.2167.7

170.9173.2174.2170.6174.7175.1

174.4171.7176.7177.0177.7179.0

31.834.834.9

41.846.654.268.059.2

68.066.070.755.863.2

65.461.571.178.080.0

95.1102.0100.0111.1108.4

89.597.9

108.2118.3108.7

97.4111.1122.2132.5135.3

118.8120.4128.4132.6131.0131.4

133.4134.2134.9139.7142.1142.9

141.2139.9143.7131.6141.9139.4

135.5124.7131.7133.5128.3126.0

60.5

81.265.869.051.066.2

74.765.579.888.390.7

115.9113.9100.0120.3116.5

92.3118.6135.8148.8128.2

111.1142.0161.1169.9159.9

150.4154.6166.2173.2169.1168.9

171.5171.6171.0178.9181.9182.1

177.9173.1179.7156.0176.3169.6

160.2138.5150.6150.6139.7134.8

58.961.354.1

65.765.564.768.468.0

75.975.068.869.979.3

74.778.282.586.392.7

96.3100.0100.0105.5107.9

105.6113.8120.8126.0116.2

107.6123.2131.2136.3137.4

134.0132.5134.0135.1134.4136.3

136.2136.0136.2138.1140.1144.0

137.3137.2137.7137.2136.1136.8

135.2138.0138.6138.7138.4

57.860.359.7

64.363.166.367.266.4

73.375.074.972.880.1

81.782.285.589.192.2

97.499.9

100.0102.9106.7

101.4104.7109.4117.3114.3

107.6125.7134.2134.2131.1

126.5129.8133.3135.3132.7133.7

132.71.37.7139.6136.8135.8136.5

130.3133.5136.5130.8128.2132.0

129.7130.1131.2128.5

43.345.446.6

48.949.749.752.054.1

59.563.265.463.968.2

71.071.373.977.882.6

87.994.6

100.0103.2107.4

107.0107.1112.7118.2118.2

113.3122.5127.6131.5136.9

130.5129.8130.2130.1129.8131.1

131.4131.9132.6132.6133.7134.4

135.6138.2137.3135.7136.8136.9

135.6137.7137.1136.9136.9137.8

19.721.321.0

26.229.731.133.634.1

39.842.745.246.654.3

56.459.265.771.878.8

87.895.7

100.0109.5118.4

120.4125.9143.6154.5159.4

147.2170.9185.7197.4209.8

190.7190.5191.2193.0194.1196.4

198.6199.3201.3202.7204.6207.2

206.5208.6207.4207.7209.7207.8

210.5213.1212.0211.0213.1

55.855.255.9

57.959.060.261.462.7

66.370.171.172.976.5

78.680.983.486.490.4

92.496.0

100.0102.6106.1

108.9112.8116.8120.9124.0

123.4133.0138.8142.7147.8

139.7140.6141.4143.1142.9142.8

143.1143.9143.7143.2143.7144.7

143.9145.5147.6147.0149.2149.5

149.4148.1148.8148.6143.3

1 Preliminary estimates by Council of Economic Advisers. Where unadjusted data are not available for 12 months, data are averages ofseasonally adjusted indexes shown.

Source: Board of Governors of the Federal Reserve System, except as noted.


TABLE B-42.—Capacity utilization rate in manufacturing, 1948-79

[Percent; quarterly data seasonally adjusted]

Year or quarter

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979"

19741IIIIIIV

19751IIIIIIV

19761IIIIIIV

19771IIIIIIV

19781IIIIIIV

1979|II '.IllIV

FRB series'

Totalmanufac-

turing

82 574.2

82.885.885.489.280.3

87.186.483.775.281.9

80.277.481.683.585.6

89.691.186.987.186.2

79.378.483.587.683.8

72.979.581.984.485.7

85.585.585.179.1

70.370.774.676.1

78.479.580.080.0

80.782.182.482.6

82.083.985.286.4

86.785.985.484.6

Primaryprocess-

ing

87 376.2

88.590.284.989.480.6

92.189.784.775.483.4

79.877.981.683.887.8

91.191.485.787.788.5

82.982.388.292.587.8

73.781.984.086.987.8

90.890.389.480.8

69.970.476.278.4

81.081.982.682.1

82.284.484.584.7

84.086.387.989.5

88.787.988.086.6

Ad-vanced

process-ing

80 073.3

79.883.485.989.380.1

84.384.583.175.181.1

80.477.281.783.484.6

88.991.187.686.885.0

77.476.381.085.081.5

72.578.280.883.084.5

82.682.782.778.2

70.471.073.874.9

77.078.178.578.8

79.880.881.381.3

80.982.783.784.6

85.684.884.083.5

Commerce series2

Totalmanufac-

turing

8686848585

8180838683

77818384

84848478

75757979

82828081

83848282

84848384

848382

Durablegoods

8887838484

7878828582

76818484

83848476

74737877

81837981

84868282

84858385

858482

Non-durablegoods

8586858686

8383858684

79828283

85858480

76788081

82818282

82828282

83828283

838282

Primary-processed

goods

8988878687

8382858985

76828384

87878679

75737878

83838280

83848282

83848485

858483

Advancedproc-essedgoods

8585838484

7980828482

77818384

83838377

75767979

81827982

84848283

84848284

848381

Wharton series3

Totalmanufac-

turing

881

90 587 984 074 278 9

76 973 776 577 779 5

84.288.286.989.290.2

84.182.787.993.290.5

79.886.088.791.7

91.892.092.086.3

77.377.781.482.7

85.286.086.386.5

87.488.989.289.5

89.291.292.494.0

94.493.693.1

Durablegoods

85 3

88 385 381668 073 7

71967 771873 475 5

82.388.086.288.889.6

80.878.384.592.089.2

76.582.685.890.4

90.090.391.085.6

75.474.777.878.2

81.182.783.483.2

83.885.886.487.0

86.989.691.593.7

94.693.592.5

Non-durablegoods

92 0

93 691587 483 086 3

84182 583 383 885 2

86.988.587.989.891.1

88.889.092.994.992.4

84.590.993.093.6

94.594.493.487.4

80.282.086.789.1

91.190.990.691.1

92.693.293.293.0

92.493.693.894.5

94.293.893.9

1 For description of the series, see "Federal Reserve Measures of Capacity and Capacity Utilization," February 1978.2 Quarterly data are for last month in quarter. Annual data are averages of the four indexes, except for 1965 (December index) and

1966-67 (averages of June and December indexes). For description of the series, see "Survey of Current Business," July 1974.3 Annual data are averages of quarterly indexes. For description of the series, see F. Gerard Adams and Robert Summers, "The

Wharton Index of Capacity Utilization: A Ten Year Perspective, 1973 Proceedings of the Business and Economic Statistics Section,American Statistical Association.

Sources: Board of Governors of the Federal Reserve System, Department of Commerce (Bureau of Economic Analysis), and WhartonSchool of Finance.


TABLE B-43.—New construction activity, 1929-79

[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]

Year or month

1929

1933

1939.

19401941194219431944

19451946

New series194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

Totalnew

construc-tion

10.8

2.9

8.2

8.712.014.18.35.3

5.814.3

20.026.126.7

33.635.436.839.141.4

46.547.649.150.055.4

54.756.460.264.867.7

73.776.478.187.193.9

94.9110.0124.1137.9138.5

134.5151.1174.0206.2

Private construction

Total

8.3

1.2

4.4

5.16.23.42.02.2

3.412.1

16.721.420.5

26.726.226.027.929.7

34.834.935.134.639.3

38.939.342.345.547.3

51752.452.559.566.0

66.880.193.9

105.4100.2

93.7111.9135.8160.4

Residentialbuildings'

Total2

3.6

.5

2.7

3.03.51.7

.9

.8

1.36.2

9.913.112.4

18.115.915.816.618.2

21.920.219.019.824.3

23.023.125.227.928.0

27 925.725.630.633.2

31.943.354.359.750.4

46.560.581.093.4

housingunits

3.0

.3

2.3

2.63.01.4

.7

.6

.74.8

7.810.510.0

15.613.212.913.414.9

18.216.114.715.419.2

17.317.119.421.721.8

21719.419.024.025.9

24.335.144.950.140.6

34.447.365.775.8

Presidential buildings and otherconstruction *

Total

4.7

.8

1.7

2.12.71.71.11.4

2.15.8

6.98.28.0

8.610.310.211.311.5

12.914.716.114.815.1

15.916.217.217.619.3

23 826.727.028.932.8

34.936.839.645.749.8

47.251.454.967.0

Commer-cial3

1.1

.1

.3

.3

.4

.2

.0

.1

.21.2

1.01.41.2

1.41.51.11.82.2

3.23.63.63.63.9

4.24.75.15.05.4

7.89.4

9.811.613.515.515.9

12.812.814.818.6

Indus-trial

0.9

.2

.3

.4

.8

.3

.2

.2

.61.7

1.71.41.0

1.12.12.32.22.0

2.43.13.62.42.1

2.92.82.82.93.6

6.06.8

6.55.44.76.27.9

8.07.27.7

11.0

Other4

2.6

.5

1.2

1.31.51.2.9

1.1

1.33.0

4.25.55.9

6.16.76.87.37.2

7.38.09.08.89.0

8.98.79.29.7

10.3

15.116.6

18.619.821.524.025.9

26.431.532.437.4

Public construction

Total

2.5

1.6

3.8

3.65.8

10.76.33.1

2.42.2

3.34.76.3

6.99.3

10.811.211.7

11.712.714.115.516.1

15.917.117.919.420.4

22 124.025 527.628.0

28.129.930.232.538.3

40.939.138.245.8

Federal

0.2

.5

.8

1.23.89.35.62.5

1.7.9

.81.21.5

1.63.04.24.13.4

2.82.73.03.43.7

3.63.93.94.03.9

4040353.43.3

3.34.04.44.95.3

6.37.07.38.3

State andlocal *

2.3

1.1

3.1

2.42.01.3

.7

.6

.71.4

2.53.54.8

5.26.36.67.18.3

8.910.011.112.112.3

12.213.314.015.416.5

18 020 022124.224.7

24.825.925.827.733.0

34.632.130.937.5



TABLE B-43.—New construction activity, 1929-79—Continued

[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]

Year or monthTotalnew

construc-tion

Private construction

Total

Residentialbuildings1

Total2New

housingunits

Nonresidential buildings and otherconstruction'

Total Commer-cial3 Indus-

trial Other4

Public construction

Total Federal State andlocal5

1978:JanFeb.Mar

tJune


1979:JanFebMar

MPay".ZJune

JulyAugSeptOctNov'

174.9181.0188.6198.3204.4206.2

212.8213.7215.3217.8220.0223.2

212.3210.9216.7216.4223.4224.3

231.1230.3232.6238.5235.3

137.3144.4149.4155.0158.6161.5

164.6165.1166.5168.5170.7173.8

165.9169.3172.7171.9175.0178.3

180.1180.6181.6185.6184.1

79.986.488.791.493.794.9

95.695.896.095.997.599.7

93.797.896.595.795.296.9

97.097.599.099.298.3

65.171.673.074.175.376.7

77.677.777.777.678.980.7

73.677.275.976.075.777.7

77.778.379.178.377.0

57.458.060.763.664.966.6

69.069.370.572.673.274.0

72.171.576.276.279.881.4

83.183.182.686.385.7

15.715.416.317.318.819.4

19.219.219.219.920.420.5

19.819.021.021.523.624.8

24.825.825.726.726.6

8.18.39.39.59.2

10.6

11.612.012.513.012.913.5

12.713.415.214.014.514.7

15.513.813.715.014.7

33.634.235.036.836.936.5

38.238.138.739.739.940.1

39.639.240.040.741.741.9

42.743.543.244.644.4

37.636.639.243.445.944.7

48.248.648.849.349.349.4

46.441.644.044.548.446.0

51.049.750.952.951.2

7.67.57.78:48.07.3

9.49.49.28.38.78.5

8.87.89.78.19.38.1

9.69.69.78.28.7

30.029.131.535.037.837.4

38.839.339.541.140.640.9

37.633.834.336.439.137.9

41.340.141.244.742.5

1 Beginning 1960, farm residential buildings included in residential buildings; prior to I960, included in nonresidential buildings andother construction.2 Total includes additions and alterations and nonhousekeeping units, not shown separately.3 Office buildings, warehouses, stores, restaurants, garages, etc.4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm (see also footnote 1), public utilities, and allother private.

5 Includes Federal grants-in-aid for State and local projects.Source: Department of Commerce (Bureau of the Census).

2 9 4 - 2 8 9 0 - 8 0 - 1 7253


TABLE B-44.—New housing units started and authorized, 1959-79

[Thousands of units]

Year or month

New housing units started

Private and public*

Total(farm andnonfarm)

Nonfarm

Private1

Total (farm and nonfarm)

Total

Type of structure

One unit2 to 4units

5 unitsor more

New private housing unitsauthorized2

Total

Type of structure

One unit2 t o 4units

5 unitsor more

1959

I960..1961196219631964

19651966196719681969

19701971197219731974

19751976197719781979"

1978:JanFeb.,Mar.

June



July...Aug...Sept..Oct....Nov"Dec ".

1,553.7

1,296.11,365.01,492.51,634.91,561.0

1,509.71,195.81,321.91,545.41,499.5

1,469.02,084.52,378.52,057.51,352.5

1,171.41,547.61,989.82,023.31,746.6

88.6101.3172.3197.5211.1216.1

192.3190.9181.1192.1158.6121.4

88.484.7

153.3161.3189.1192.0

165.0171.4163.8169.0119.2

89.2

1,531.3

1,274.01,336.81,468.71,614.81,534.0

1,487.51,172.81,298.81,521.41,482.3

1,517.0

1,252.21,313.01,462.91,603.21,528.8

1,472.81,164.91,291.61,507.61,466.8

1,433.62,052.22,356.62,045.31,337.7

1,160.41,537.51,987.12,020.31,742.5

1,7441,6592,0112,1762,0372,093

2,1042,0042,0242,0542,1072,074

1,6791,3811,7861,7451,8351,923

1,7881,7931,9211,7641,5221,527

1,234.0

994.7974.3991.4

1,012.4970.5

963.7778.6843.9899.4810.6

812.91,151.01,309.21,132.0

888.1

892.21,162.41,450.91,433.31,193.3

283.0

257.4338.7471.5590.8

108.4 450.0

86.661.171.680.985.0

84.8120.3141.3118.3

68.1

64.085.9

121.7125.0122.3

422.5325.1376.1527.3571.2

535.9780.9906.2795.0381.6

204.3289.2414.4462.0426.9

1,208.3

998.01,064.21,186.61,334.71,285.8

1,239.8971.9

1,141.01,353.41,323.7

1,351.51,924.62,218.91,819.51,074.4

939.21,296.21,690.01,800.51,537.3

938.3

746.1722.8716.2750.2720.1

709.9563.2650.6694.7625.9

646.8906.1

1,033.1882.1643.8

675.5893.6

1,126.11,182.6

971.0

77.1

64.667.687.1

118.9100.8

84.861.073.084.385.2

88.1132.9148.6117.0

64.3

63.993.1

121.3130.6124.8

Seasonally adjusted annual rates

192.9

187.4273.8383.3465.6464.9

445.1347.7417.5574.4612.7

616.7885.7

1,037.2820.5366.2

199.8309.5442.7487.3441.5

1,2901,1711,4131,4821,4631,439

1,4551,4311,4321,4361,5021,539

1,139953

1,2661,2781,2261,288

1,2201,2391,2541,159985

1,071

1108812613892143

134137112135150119

12476116115119123

138156122139123106

344400472556482511

515436480483455416

416352404352490512

430398545466414350

1,7231,7051,7421,9141,7561,983

1,7651,7161,8381,8351,7891,827

1,4511,4251,6211,5171,6181,639

1,5281,6541,7751,5421,2631,204

1,1671,0971,1301,2751,1751,245

1,1401,1291,1841,2091,1721,268

929881

1,0561,0361,0471,012

1,0011,0301,015927751768

112119131124122169

116124131135134139

12595126119116132

13515115113799104

444489481515459569

509463523491483420

396449439362455495

392473609478413332

1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Housing Act, are included in publicly owned starts and excluded fromtotal private starts.

2 Authorized by issuance of local building permit: in 16,000 permit-issuing places beginning 1978; in 14,000 places for 1972-77; in13,000 places for 1967-71; in 12,000 places for 1963-66; and in 10,000 places prior to 1963.

3 Not available separately beginning January 1970.

Note.—Only the series on private and public nonfarm housing units started is available prior to 1959. See 1976 "Economic Report"for this earlier series.



TABLE B-45.—Business expenditures for new plant and equipment, 1947-80x


Year or quarter

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977197819793 .. ..1980 3

1978:1IIIIIIV

1979:1IIIIIIV 3

1980:I3II3

Total

19.3321.3018.98

20.2125.4626.4328.2027.19

29.5335.7337.9431.8933.55

36.7535.9138.3940.7746.97

54.4263.5165.4767.7675.56

79.7181.2188.4499.74112.40

112.78120.49135.80153.82176.37195 67

144.25150.76155.41163.96

165.94173.48179.33184.32

189.32195.76

Manufacturing

Total

8.449.017.12

7.3910.7111.4511.8611.24

11.8915.4016.5112.3812.77

15.0914.3315.0616.2219.34

23.4428.2028.5128.3731.68

31.9529.9931.3538.0146.01

47.9552.4860.1667.6278.3089 51

61.5767.2067.7573.24

71.5676.4280.2283.04

85.0289.11

Durablegoods

3.253.302.45

2.944.825.215.314.91

5.417.457.845.615.81

7.236.316.797.539.28

11.5014.0614.0614.1215.96

15.8014.1515.6419.2522.62

21.8423.6827.7731.6637.8943 76

28.7231.4032.2533.99

34.0036.8639.7240.16

42.3244.44

Non-durablegoods

5.195.714.68

4.455.896.246.566.33

6.487.958.686.776.95

7.858.028.268.70

10.07

11.9414.1414.4514.2515.72

16.1515.8415.7218.7623.39

26.1128.8132.3935.9640.4145 75

32.8635.8035.5039.26

37.5639.5640.5042.88

42.7044.68

Nonmanufacturing

Total

10.8912.2911.86

12.8214.7514.9816.3415.95

17.6420.3421.4319.5120.78

21.6621.5823.3324.5527.62

30.9835.3236.9639.4043.88

47.7651.2257.0961.7366.39

64.8268.0175.6486.1998.07106 16

82.6883.5687.6690.71

94.3897.0699.12101.28

104.29106.65

Mining

0.69.93.88

.841.111.211.251.28

1.311.641.691.431.36

1.301.291.401.271.34

1.461.621.651.631.86

1.892.162.422.743.18

3.794.004.504.785.526 45

4.454.814.994.98

5.465.315.425.91

4.95

Transportation

Rail-road

0.911.371.42

1.181.581.501.42.93

1.021.371.58.86

1.02

1.16.82

1.021.261.66

1.992.371.861.451.86

1.781.671.801.962.54

2.552.522.803.323.884 40

3.353.093.383.49

4.023.664.034.00

3.92

Air

0.17.10.12

.10

.14

.24

.24

.24

.26

.35

.41

.37

.78

.66

.73

.52

.401.02

1.221.742.292.562.51

3.031.882.462.412.00

1.841.301.622.303.343 44

2.672.082.202.39

3.353.263.103.74

5.09

Other

1.131.17.76

1.091.331.231.291.22

1.301.311.301.061.33

1.301.231.651.581.50

1.681.641.481.591.68

1.231.381.461.662.12

3.183.632.512.432.973 41

2.442.232.472.55

2.712.793.163.22

3.75

Publicutilities

1.542.543.10

3.243.563.744.343.99

4.034.525.675.525.14

5.245.004.904.985.49

6.137.438.74

10.2011.61

13.1415.3017.0018.7120.55

20.1422.2825.8029.4833.1834 39

27.9228.4629.6231.73

32.3533.2433.3333.76

33.07

Commu-nication

1.401.741.34

1.141.371.611.781.82

2.112.823.192.792.72

3.243.393.854.064.61

5.306.026.346.838.30

10.1010.7711.8912.8513.96

12.7413.3015.4518.1620.18

Commer-cial andother2

5.054.424.24

5.225.675.456.026.45

7.638.327.607.488.44

8.759.139.9910.9912.02

13.1914.4814.5915.1416.05

16.5918.0520.0721.4022.05

20.6020.9922.9725.7128.98

54 07

17.0718.1818.9018.46

18.7520.2920.41

50

24.7624.7126.0927.12

27.7328.5129.66

65

53 5?

1 Excludes agricultural business; real estate operators-, medical, legal, educational, and cultural services; and nonprofit organizations.These figures do not agree precisely with the nonresidential fixed investment data in the gross national product estimates, mainlybecause those data incTude investment by farmers, professionals, nonprofit institutions, and real estate firms, and certain outlayscharged to current account.

2 Commercial and other includes trade, service, construction, finance, and insurance.3 Planned capital expenditures as reported by business in late October-December 1979. Plans are adjusted when necessary forsystematic bias.



TABLE B-46.—Sales and inventories in manufacturing and trade, 1947-79

[Amounts in millions of dollars; monthly data seasonally adjusted]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

1978.JanFebMar

£ :June


1979JanFebMar

MayJune


Total manufacturing andtrade

Salesl

35,26033,788

38,59643,35644,84047,98746,443

51,69454,06355,87954,20159,729

60,82761,15965,66268,99573,682

80,28387,18790,34898,143105,042

107,475116,035130,049151,720175,350

179,982201,814224,686254,125

232,439238,873242,926249,868251,588252,380

252,728259,226260,099266,724269,792272,537

273,304274,579285,372275,936287,139283,388

289,206293,059296,394299,077298,433

Inven-tories2

52,50749,497

59,82270,24272,37776,12273,175

79,51687,30489,05287,09392,129

94,71395,594101,063105,480111,503

120,907136,790145,335156,166169,841

178,337188,563203,161234,163285,519

285,035310,736338,099379,630

341,516344,337349,407353,863357,248360,065

363,048366,574369,227372,404376,812379,630

384,190387,822391,893397,530401,504405,966

413,395416,956417,334421,205424,149

Ratio3

1.421.53

1.361.551.581.581.60

1.471.551.591.601.50

1.561.541.501.491.47

1.451.471.561.541.55

1.621.581.501.441.47

1.581.481.451.41

1.471.441.441.421.421.43

1.441.411.421.401.401.39

1.411.411.371.441.401.43

1.431.421.411.411.42

Manufacturing

Sales1

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,24730,286

30,87930,92333,35735,05837,331

40,99544,87046,48750,26853,540

52,83255,92563,04272,95484,821

86,61798,810110,842124,714

114,287118,246120,048123,082122,895123,760

123,079127,029127,483130,415132,082133,796

135,301135,962142,503134,126142,288138,960

141,730142,532143,201145,551144,141

Inven-tories2

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,24152,945

53,78054,88558,18660,04663,409

68,18577,95284,65990,61798,210

101,667102,677108,296124,672157,915

158,178170,156179,981198,041

181,322182,798184,066185,826187,536189,267

190,783192,412193,764194,500196,803198,041

200,908203,642205,589209,178211,085214,339

216,560219,137221,417223,450226,159

Ratio3

1.581.571.75

1.481.661.781.761.81

1.621.731.801.841.70

1.751.741.701.691.64

1.601.621.761.741.77

1.901.831.671.581.65

1.831.661.591.52

1.581.541.531.511.521.53

1.551.511.521.491.491.48

1.481.501.441.561.481.54

1.531.541.551.541.57

Merchant wholesalers

Sales1

6,8086,514

7,6958,5978,7829,0528,993

9,89310,51310,47510,25711,491

11,65611,98812,67413,38214,529

15,61116,98719,44820,84622,609

23,94326,25729,58436,82245,836

44,63348,40853,50962,842

56,26057,72958,80361,64063,17162,656

63,42564,89464,53167,33867,55267,823

67,14867,49570,82470,44472,93772,625

75,10675,73376,26477,91578,117

Inven-tories2

7,9577,706

9,2849,88610,21010,68610,637

11,67813,26012,73012,73913,879

14,12014,48814,93616,04817,000

18,31720,76525,37726,60429,114

32,80335,82339,78646,25456,537

55,11361,30767,99880,771

69,19170,32572,62974,32774,77975,191

75,74476,33877,11378,62579,52680,771

81,54383,00584,07884,97385,25785,245

88,14488,72788,39388,78488,648

Ratio3

1.131.19

1.071.161.121.171.18

1.131.191.231.241.15

1.221.201.161.151.14

1.151.151.251.251.23

1.291.301.271.171.12

1.241.211.211.19

1.231.221.241.211.181.20

1.191.181.191.171.181.19

1.211.231.191.211.171.17

1.171.171.161.141.13

Retail trade

Sales1

10,20011,13511,149

12,26813,04613,52914,09114,095

15,32115,81116,66716,69617,951

18,29418,24919,63020,55621,823

23,67725,33024,41327,03028,893

30,70033,85337,42241,94444,692

48,73154,59760,33566,568

61,89262,89864,07565,14665,52265,964

66,22467,30368,08568,97170,15870,918

70,85571,12272,04571,36671,91471,803

72,37074,79476,92975,61176,17577,020

Inven-tories2

14,24116,00715,470

19,46021,05021,03121,48820,926

22,76923,40224,45124,11325,305

26,81326,22127,94129,38631,094

34,40538,07335,29938,94542,517

43,86750,06355,07963,23771,067

71,74479,27390,120100,818

91,00391,21492,71293,71094,93395,607

96,52197,82498,35099,279100,483100,818

101,739101,175102,226103,379105,162106,382

108,691109,092107,524108,971109,342

Ratio3

1.261.391.41

1.381.641.521.531.51

1.431.471.441.431.40

1.451.431.381.391.40

1.391.441.431.381.41

1.411.411.401.411.49

1.451.391.401.44

1.471.451.451.441.451.45

1.461.451.441.441.431.42

1.441.421.421.451.461.48

1.501.461.401.441.44

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Inventory/sales ratio. For annual periods, ratio of weighted average inventories to average monthly sales; for monthly data, ratio of

inventories at end of month to sales for month.Note.—Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale and

retail trade.The inventory figures in this table do not agree with the estimates of change in business inventories included in the gross national

product since these figures cover only manufacturing and trade rather than all business, and show inventories in terms of current bookvalue without adjustment for revaluation.

Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).


TABLE B-47.—Manufacturers' shipments and inventories, 1947-79

[Millions of dollars; monthly data seasonally adjusted]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

1978.JanFebMar

£JuneJulyAugSeptOctNovDec

1979-JanFebMar

tJuneJulyAugSeptOctNov

Shipments1

Total

15,51317,31616,126

18,63421,71422,52924,84323,355

26,48027,74028,73627,24730,286

30,87930,92333,35735,05837,331

40,99544,87046,48750,26853,540

52,83255,92563,04272,95484,821

86,61798,810110,842124,714

114,287118,246120,048123,082122,895123,760

123,079127,029127,483130,415132,082133,796

135,301135,962142,503134,126142,288138,960

141,730142,532143,201145,551144,141

Dura-ble

goodsindus-tries

6,6947,5797,191

8,84510,49311,31313,34911,828

14,07114,71515,23713,56315,609

15,88315,61617,26218,28019,637

22,22124,64925,26727,69829,477

28,21529,97334,04339,70344,253

43,67850,69758,01066,505

59,85662,55263,76465,55665,01865,593

65,10667,97268,47670,09671,39272,637

72,89773,64676,85570,99675,69872,629

73,58574,41674,01275,57073,657


8,8199,7388,935

9,78911,22111,21611,49411,527

12,40913,02513,49913,68414,677

14,99615,30716,09516,77817,694

18,77420,22021,22022,57024,064

24,61725,95228,99933,25140,568

42,93948,11352,83258,210

54,43155,69456,28457,52657,87758,167

57,97259,05759,00760,31960,68961,159

62,40462,31665,64863,13066,59066,331

68,14568,11669,18969,98170,484

Total

25,89728,54326,321

31,07839,30641,13643,94841,612

45,06950,64251,87150,24152,945

53,78054,88558,18660,04663,409

68,18577,95284,65990,61798,210

101,667102,677108,296124,672157,915

158,178170,156179,981198,041

181,322182,798184,066185,826187,536189,267

190,783192,412193,764194,500196,803198,041

200,908203,642205,589209,178211,085214,339

216,560219,137221,417223,450226,159

Inventories'

Durable goods industries

Total

13,06114,66213,060

15,53920,99123,73125,87823,710

26,40530,44731,72830,25832,077

32,37132,54434,63235,86638,506

42,25749,92054,99658,87164,739

66,79066,31370,30881,426101,866

101,766109,095115,552129,226

116,467117,728118,731119,901121,426122,529

123,624124,952126,108126,715128,422129,226

131,699133,994135,278137,903139,502141,700

143,369144,966145,927148,042150,332

Mate-rialsand

supplies

8,9667,894

9,19410,41710,60810,03210,776

10,35310,27910,81011,06811,970

13,32515,48916,45417,38918,710

19,19819,77820,89326,06235,228

33,62936,56238,74541,468

38,36138,73338,72338,92339,42539,677

39,75140,20541,09340,86941,27641,468

42,03042,61543,57043,84844,50444,885

45,53846,49246,38247,73448,406

Workin

proc-ess

10,7209,721

10,75612,31712,83712,38713,063

12,77213,20314,15914,87116,191

18,07521,93925,00127,31430,377

29,83628,65430,81935,54642,683

42,92344,84346,99055,449

47,76148,66149,30050,13750,96351,558

52,52553,13753,32454,11454,88955,449

56,27557,26257,65658,99559,97561,461

62,00662,77663,82864,89266,096

Finishedgoods

6,2066,040

6,3487,5658,1257,8398,239

9,2459,0639,6629,92510,344

10,85412,49113,54214,16715,651

17,75617,88218,59719,81823,956

25,21427,69029,81632,309

30,34530,33530,70830,84131,03831,294

31,34731,61131,69131,73232,25632,309

33,39434,11734,05235,06035,02335,354

35,82535,69835,71735,41635,830

Nondurable goods industries

Total

12,83613,88113,261

15,53918,31517,40518,07017,902

18,66420,19520,14319,98320,868

21,40922,34123,55424,18024,903

25,92828,03229,66231,74633,471

34,87736,36437,98743,24556,048

56,41261,06164,43068,816

64,85565,07065,33565,92566,11066,739

67,15867,46067,65767,78568,38168,816

69,20969,64870,31171,27571,58372,639

73,19174,17175,49075,40875,827

Mate-rialsand

supplies

8,3178,167

8,5568,9718,7758,6629,080

9,0829,4939,8139,97810,131

10,44811,15511,71512,28912,726

13,15413,68014,67618,13423,689

23,19925,05625,22726,610

25,31025,38025,75825,72025,76226,184

26,03725,95626,05926,16526,42726,610

27,09827,29227,71228,08928,07928,400

28,51529,26629,36929,57730,044

Workin

proc-ess

2,4722,440

2,5712,7212,8642,8282,944

2,9463,1103,2963,4063,511

3,8064,2044,4234,8495,124

5,2755,6695,9836,7138,179

8,6929,57610,14210,717

10,15210,26810,23910,33410,31510,278

10,36610,37010,46910,66310,69510,717

10,83910,99010,98211,14911,24811,335

11,54811,59811,89011,98111,871

Finishedgoods

7,4097,415

7,6668,6228,6248,4918,845

9,3809,73810,44410,79611,261

11,67412,67313,52414,60815,621

16,44817,01517,32818,39824,180

24,52126,42929,06131,489

29,39329,42229,33829,87130,03330,277

30,75531,13431,12930,95731,25931,489

31,27231,36631,61732,03732,25632,904

33,12833,30734,23133,85033,912

1 Monthly average for year and total for month.2 Book value, seasonally adjusted, end of period, except as noted.Note.—Data beginning 1958 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.


TABLE B-48.—Manufacturers' new and unfilled orders, 1947-79

[Amounts in millions of dollars; monthly data seasonally adjusted]

Year or month

New orders1

Total

Durable goodsindustries

Total

Capitalgoodsindus-tries,non-

defense

Non-durablegoods

industries

Unfilled orders2

TotalDurablegoods

industries

Non-durablegoods

industries

Unfilled orders—shipmentsratio3

TotalDurablegoods

industries


1947.19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

1978:Jan..Feb.Mar.

June.

July..Aug.SeptOctNov.Dec...

1979:JanFeb.MarMPayJune.

July..AugSept.OctNov....

15,25617,69315,614

20,11023,90723,20423,58622,335

27,46528,36827,55927,00230,724

30,23531,10433,43635,52438,357

42,10046,40247,06250,68453,967

52,06855,99064,16276,18387,157

85,08299,184112,451128,488

117,197121,220124,585126,896127,022126,651

124,076129,870131,608136,714137,794138,069

141,748144,036148,586139,332143,594142,269

140,508142,664147,154146,640146,569

6,3888,1266,633

10,16512,84112,06112,14710,768

14,99615,36514,11113,29016,003

15,30315,75917,37418,70920,652

23,27826,17725,83128,11329,887

27,41830,00435,05942,85346,740

41,95751,04759,56270,145

62,61165,54168,13869,24968,89568,313

65,93570,59372,39976,46376,91276,831

79,64781,31283,08876,09977,02775,820

72,54574,02977,56076,66375,417

7,0707,746

6,8007,5178,803

11,08912,737

10,77212,50115,08418,308

16,17317,19017,18217,27717,60817,608

17,45018,35819,83521,03220,75419,132

21,41022,86823,97820,76720,96521,753

20,23220,73721,81520,99921,419

9,5668,981

9,94511,06611,14311,43911,566

12,46913,00313,44813,71214,720

14,93215,34516,06116,81517,705

18,82320,22521,23122,57124,079

24,65025,98629,10433,33040,417

43,12548,13752,88958,343

54,58555,67956,44857,64758,12758,338

58,14159,27759,20860,25060,88261,238

62,10162,72465,49863,23366,56766,449

67,96368,63569,59469,97771,152

34,47330,73624,045

41,45667,26675,85761,17848,266

60,00467,37553,18347,37052,732

45,08047,40748,57754,32766,882

80,07198,401105,030109,912115,142

105,916106,772120,395159,468187,574

169,126173,646193,150238,652

196,061199,035203,575207,388211,514214,406

215,403218,244222,368228,667234,381238,652

245,113253,187259,267264,479265,782269,086

267,863267,994271,946273,047275,471

28,57926,61919,622

35,43563,39472,68058,63745,250

56,24163,88050,35244,55949,373

42,51444,37545,96551,27063,691

76,29894,575101,058105,935110,969

101,323101,744114,059152,089182,037

161,286165,509184,319228,181

187,075190,064194,440198,132202,009204,729

205,557208,178212,101218,468223,989228,181

234,943242,608248,839253,948255,273258,457

257,417257,029260,576261,679263,435

5,8944,1174,423

6,0213,8723,1772,5413,016

3,7633,4952,8312,8113,359

2,5663,0322,6123,0573,191

3,7733,8263,9723,9774,173

4,5935,0286,3367,3795,537

7,8408,1378,831

10,471

8,9868,9719,1359,2559,5069,677

9,84510,06610,26710,19910,39210,471

10,17010,57910,42810,53110,50910,629

10,44610,96511,37011,36812,036

3.42

3.633.873.353.093.01

2.782.632.692.803.10

3.333.813.713.843.74

3.643.373.293.874.12

3.693.203.173.35

3.313.223.233.203.293.29

3.323.233.273.313.353.35

3.443.513.413.713.533.65

3.573.563.633.563.66

4.12

4.274.554.003.693.54

3.373.133.243.373.72

3.954.554.424.644.48

4.384.043.894.584.94

4.423.833.773.92

3.953.823.833.803.923.91

3.953.813.843.903.943.92

4.064.134.014.424.194.34

4.274.223.744.224.34

0.96

1.121.04

.85

.86

.94

.72

.79

.68

.73

.72

.76

.73

.69

.69

.77

.77

.88

.93

.64

.83

.74

.73

.81

.76

.74

.74

.73

.75

.76

.76

.78

.81

.78

.79

.81

.76

.79

.75

.76

.73

.75

.71

.76

.79

.77

.82

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual figures relate

to seasonally adjusted data for December.Note.—Data beginning 1958 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.


PRICESTABLE B-49.—Consumer price indexes, major expenditure classes, 1929-79

[1967 = 100]

Year or month Allitems

Food andbeverages

Total * Food

Housing

Total2Rent,resi-

dential

Homeowner-

ship

Fuel andother

utilities3

Appareland

upkeepTrans-

portationMedical

careEnter-

tainment

Othergoodsand

services

Ener-gy4

192919331939

1940194119421943194419451946194719481949

1979:JanFebMar

51.338.841.6

42.044.148.851.852.753.958.566.972.171.4

1950195119521953195419551956195719581959

72.177.879.580.180.580.281.484.386.687.3

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978:Jan...Feb...Mar..

88.789.690.691.792.994.5

June


May"!MayJuneJulyAugSeptOctNovDec

97.2100.0104.2109.8

116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4

187.2188.4189.8191.5193.3195.3

196.7197.8199.3200.9202.0202.9

204.7207.1209.1211.5214.1216.6

218.9221.1223.4225.4227.5229.9

100.0103.6108.8

114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5

194.6197.3199.5202.6205.2208.5

209.7210.1210.3211.6212.5214.1

218.3222.4224.4226.3228.2229.3

230.7230.2231.0232.1233.1235.5

48.330.634.6

35.238.445.150.349.650.758.170.676.673.5

74.582.884.383.082.881.682.284.988.587.1

88.089.189.991.292.494.499.1

100.0103.6108.9

114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5

199.2202.0204.2207.5210.3213.8

215.0215.4215.6216.8217.8219.4

223.9228.2230.4232.3234.3235.4

236.9236.3237.1238.2239.1241.7

52.252.453.756.256.858.159.160.665.269.870.9

72.877.278.780.881.782.383.686.287.788.6

90.290.991.792.793.894.997.2

100.0104.0110.4

118.2123.4128.1133.7148.8164.5174.6186.5202.8227.6

193.8195.0196.7198.3199.9202.0

203.8205.2207.5209.5210.6211.5

213.1215.6217.6219.8222.4225.5

228.4231.5234.6237.7240.8243.6

76.054.156.0

56.257.258.558.558.658.859.261.165.168.0

70.473.276.280.383.284.385.987.589.190.4

91.792.994.095.095.996.998.2

100.0102.4105.7

110.1115.2119.2124.3130.6137.3144.7153.5164.0176.0

158.8159.7160.5161.5162.7163.6

164.2165.1166.4167.4168.5169.5

170.3171.0171.3172.0173.8174.7

175.9177.5179.0181.4182.1182.9

75.076.377.078.381.783.584.4

86.386.987.989.090.892.796.3

100.0105.7116.0

128.5133.7140.1146.7163.2181.7191.7204.9227.2262.4

215.0216.4218.3220.4222.5225.3

228.3230.6234.2237.0238.8239.5

241.6245.6248.2251.7254.9258.8

263.0267.6271.9276.7282.4286.9

83.083.585.187.389.991.793.8

95.997.197.398.298.498.398.8

100.0101.3103.6

107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3

208.5210.6212.6213.9215.5217.5

218.0218.1218.8220.1218.5219.9

221.5223.3225.9227.5232.2239.0

243.5247.2251.2252.9252.0255.1

48.536.942.4

42.844.852.354.658.561.567.578.283.380.1

79.086.185.384.684.584.185.887.387.588.2

89.690.490.991.992.793.796.1

100.0105.4111.5

116.1119.8122.3126.8136.2142.3147.6154.2159.6166.6

155.7154.5156.5158.4159.8159.9

158.0159.6161.9163.3164.1163.2

160.7161.4164.3165.4166.1165.7

164.3166.3169.8171.0171.7172.2

43.042.744.248.147.947.947.850.355.561.866.4

68.272.577.379.578.377.478.883.386.089.6

89.690.692.593.094.395.997.2

100.0103.2107.2

112.7118.6119.9123.8137.7150.6165.5177.2185.5212.0

179.0179.4179.9181.1183.2185.5

187.2188.1188.7189.7191.4192.6

193.9195.6198.1202.9207.7212.6

216.6219.6221.4222.7224.9227.7

36.736.837.038.039.941.142.144.448.151.152.7

53.756.359 361.463.464.867 269.973.276.4

79.181483.585.687 389593.4

100.0106.1113.4

120.6128.4132.5137.7150.5168.6184.7202.4219.4239.7

211.2213.3214.5215.7216.9217.9

219.4221.4222.6224.7227.0227.8

230.7232.6233.9235.1236.3237.7

239.9241.8243.7245.9248.0250.7

100.0105.7111.0

116.7122.9126.5130.0139.8152.2159.8167.7176.6188.5

171.9172.9174.1175.6176.2176.2

177.0177.4178.3179.3179.5180.9

182.3183.2184.8186.5187.8188.2

189.1190.2191.1192.0192.8193.4

100.0105.2110.4

116.8122.4127.5132.5142.0153.9162.7172.2183.3196.7

178.5179.0179.3179.8180.4181.0

183.1184.0187.8188.3188.8189.1

190.5191.9192.8193.2193.9194.5

195.2197.0201.7202.3202.9204.0

90.190.391.8

94.294.494.795.094.696 397.8

100.0101.5104.2

107.0111.2114.3123.5159.7176.6189.3207.3220.4275.9

211.8213.0214.3215.7217.7

220.7222.4223.7225.1226.5225.9228.3

231.5235.0241.2250.2260.8275.4

287.1296.3304.3307.5307.8313.7

1 Includes alcoholic beverages, not shown separately.2 Includes other items, not shown separately. Series beginning 1967 not comparable with series for earlier years.3 Gas (piped) and electricity; fuel oil, coal, and bottled gas; and other utilities and public services.4 Gas (piped) and electricity; fuel oil, coal, and bottled gas; and gasoline, motor oil, coolant, etc.Note.—Data beginning January 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-50.—Consumer price indexes, selected expenditure classes, 1939-79

[1967 = 100]

Year ormonth

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

I9601961196219631964196519661967L9681969

1970197119721973197419751976197719781979

1978:JanFebMar

tHayZ'Z.'.June


1979:JanFebMarApr|y|3yJune

JulyAug

OctNovDec

Food and beverages

Total

100.0103.6108.8

114.7118.3123.2139.5158.7172.1177.4188.0206.3228.5

194.6197.3199.5202.6205.2208.5

209.7210.1210.3211.6212.5214.1

218.3222.4224.4226.3228.2229.3

230.7230.2231.0232.1233.1235.5

Food

Total

34 6

35 238 445150.349 650.758170.676 673.5

74.582 884 383.082.881.682 284.988.587.1

88.089189.991292.494.4991

100.0103.6108.9

114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5

199.2202.0204.2207.5210.3213.8

215.0215.4215.6216.8217.8219.4

223.9228.2230.4232.3234.3235.4

236.9236.3237.1238.2239.1241.7

Athome

73.579.876.7

77.686.387 886.285.884.184.487.291.088.8

89.690.491.092.293.295.5

100.3100.0103.2108.2

113.7116.4121.6141.4162.4175.8179.5190.2210.2232.9

197.0200.1202.5206.5209.7213.9

214.7214.5214.1215.4216.1217.9

223.1228.0229.9231.7233.4234.2

235.5233.9234.7235.4236.0238.7

Awayfromhome

68.970.170.872 274.977.279.3

81.483 285.487.388.990.9951

100.0105.2111.6

119.9126.1131.1141.4159.4174.3186.1200.3218.4242.9

208.2210.5212.3214.0215.8217.8

219.9221.7223.2224.6225.9227.4

230.2233.4236.0238.4241.1242.7

244.9246.5247.6249.6251.3253.4

Homeownership

Total

75.076.377.078.381.783.584.4

86.386.987.989.090.892.796.3

100.0105.7116.0

128.5133.7

• 140.1146.7163.2181.7191.7204.9227.2262.4

215.0216.4218.3220.4222.5225.3

228.3230.6234.2237.0238.8239.5

241.6245.6248.2251.7254.9258.8

263.0267.6271.9276.7282.4286.9

Mnmopur-

chase

86.587.187.387 690.091391.3

91.892 393.294 295.797.098 6

100.0102.8109.5

118.3124.8130.0132.7142.7160.3168.4179.5196.7223.1

188.1189.0190.5191.7193.4195.3

197.4197.9201.2203.4204.8207.1

208.1210.9212.7215.4217.6220.9

224.0226.9229.8233.4237.3239.9

ing,"taxes,

andinsur-ance

100.0108.3123.7

142.3143.5150.8160.6181.1201.9212.8227.2257.8308.9

240.5242.4244.8247.7250.8254.7

259.3264.1268.9272.4274.7273.1

276.6283.5287.7292.1297.2302.2

308.6316.4323.0330.5340.1348.3

Mainte-nanceand

repair

71.272.474.177.280.581.883.2

84.685.986.587.789.591.395.2

100.0106.1115.0

124.0133.7140.7151.0171.6187.6199.6214.7233.0256.4

222.4223.5225.5228.4229.6231.9

234.4236.1237.5240.7242.3243.3

245.2245.9247.5250.6252.4255.5

257.9259.7262.5264.7266.4268.3

Total

83.083.585.187 389.991.793.8

95.997197.398 298.498.398 8

100.0101.3103.6

107.6115.0120.1126.9150.2167.8182.7202.2216.0239.3

208.5210.6212.6213.9215.5217.5

218.0218.1218.8220.1218.5219.9

221.5223.3225.9227.5232.2239.0

243.5247.2251.2252.9252.0255.1

Fuel arid other utilities

Household fuels

Total

100.01014103.4

107.9115.3120.1128.4160.7183.8202.3228.6247.4286.4

235.9239.2242.1244.2246.8250.2

250.7250.4251.5254.0250.6252.7

256.3259.3264.0266.8274.6286.2

293.8299.7306.6310.3307.0311.8

Gasand

elec-tricity

82 9

82181.481080.680 379.677 477.179181.0

81.281.582 684.285.387.588 489.392.494.7

98.699 499.499.499.499.499.6

100.0100.9102.8

107.3114.7120.5126.4145.8169.6189.0213.4232.6257.8

219.7223.3226.6229.2232.5236.5

237.2236.9237.9240.0234.9236.2

239.5241.2244.0245.3251.6259.9

264.5266.5270.1272.5267.3270.8

Fueloil,

coal,and

bottledgas

37 1

38 240 543145.247 148.051358.468 670.3

72.776 578 081581.282.385 990.388 789.8

89.291091.593 292.794.697 0

100.0103.1105.6

110.1117.5118.5136.0214.6235.3250.8283.4298.3403.1

295.2296.9297.2296.6295.6295.1

294.5294.2295.7300.1306.1311.8

316.4326.1339.5349.8364.3391.2

412.9438.6461.6470.8477.4488.0

Otherutili-tiesandpublicservices

100.0101.2104.0

107.4114.7120.6124.1130.3137.1145.4152.0158.3159.5

156.3156.8157.3157.7157.7157.9

158.4159.1159.2158.9159.7160.1

159.0159.C158.8158.8159.C159.2

159.4159.S159.8158.fi161.C161.9



TABLE B-50.—Consumer price indexes, selected expenditure classes, 1939-79—Continued

[1967 = 100]

Year or month

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978:JanFebMar

MPayJune


1979-JanFebMar

MayJune


Total

43.0

42.744.248.147 947.947.850.355.561.866.4

68.272.577.379 578.377.478.883.386 089.6

89.690.692 593.094 395.997 2

100.0103.2107.2

112.7118.6119.9123.8137.7150.6165.5177.2185 5212.0

179.0179.4179.9181.1183.2185.5

187.2188.1188.7189.7191.4192.6

193.9195.6198.1202.9207.7212.6

216.6219.6221.4222.7224.9227.7

Transportation

Private

Total

44.2

43.645.952.351451.451.354.361.568.272.3

72.575.880.882 480.378.980.184.787 491.1

90.691.393 093.494 796.397 5

100.0103.0106.5

111.1116.6117.5121.5136.6149.8164.6176.6185 0212.3

178.2178.6179.1180.3182.6185.0

186.8187.7188.3189.4191.1192.5

193.8195.5198.1203.2208.1213.3

217.4220.4222.0223.1225.0227.5

cars

43.2

43.346.6

69.275.682.8

83.487.494.995.894.390.993.598.4

1015105.9

104.5104.51041103.5103 2100.9991

100.0102.8104.4

107.6112.0111.0111.1117.5127.6135.7142.9153.8166.0

150.9151.2151.1151.2152.5153.5

153.9153.8153.5155.5158.5159.8

161.2162.3162.7164.3165.8166.3

166.7166.6166.1167.5170.6171.7

Usedcars

89.275.971.869.177.480 289.5

83.686.994 896.0

100199.497 0

100.0

103.1

104.3110.2110.5117.6122.6146.4167.9182.8186.5201.0

169.8170.0172.3177.3184.6191.5

195.9196.7195.9195.4194.7194.0

193.6193.4195.4200.0205.4208.9

209.2207.0202.9199.9198.4198.2

Gaso-line

49.0

48.150.553.454.054.253.854.962.270.472.3

71.873.975.880 382.583.686.590.088 889.9

92.591.491991.891494.997 0

100.0101.4104.7

105.6106.3107.6118.1159.9170.8177.9188.2196.3265.6

190.0189.5189.4190.2191.8194.4

197.2199.8201.5201.9203.5206.2

209.1213.0220.6234.7247.7265.0

280.0292.0301.0303.8306.9313.9

Mainte-nanceand

repair

43.1

43.044.948.849 450.050.452.056 459.661.1

62.367.068.672.374.876.579.582.483 785.5

87.289.390 491.692 894.596 2

100.0105.5112.2

120.6129.2135.1142.2156.8176.6189.7203.7220.6242.6

212.0214.1215.3216.3217.7219.5

220.9222.5224.4226.4228.2229.3

231.3233.9236.3238.2240.1242.0

244.0245.7247.1249.1250.8252.6

Other

100.0103.4109.7

119.2128.4129.1127.8132.4141.2163.1177.3184.6198.6

181.7182.5182.5182.6182.8183.4

183.9184.3185.3186.9189.0190.6

191.4192.5193.4194.8196.4197.3

198.5200.5201.7203.7205.5207.5

Publictranspor-

tation

33.1

33.133.133.333.433.533.534.436.040.745.2

48.954.057.561.365.567.470.072.776178.3

81.084.687 488.590191.995 2

100.0104.6112.7

128.5137.7143.4144.8148.0158.6174.2182.4187.8200.3

186.6186.8187.2187.3187.4187.2

187.7187.6188.2189.3189.7189.1

190.0190.7191.5192.6193.3194.0

197.1200.8205.2209.1216.5223.0

Medical care

Total

36.7

36.837.038.039.941.142.144.448.151.152.7

53.756.359.361.463.464.867.269.973 276.4

79.181.483 585.687 389.593 4

100.0106.1113.4

120.6128.4132.5137.7150.5168.6184.7202.4219.4239.7

211.2213.3214.5215.7216.9217.9

219.4221.4222.6224.7227.0227.8

230.7232.6233.9235.1236.3237.7

239.9241.8243.7245.9248.0250.7

Medi-cal

careserv-ices

32.5

32.532.733.735.436.937.940.143.546.448.1

49.251.755.057.058.760.462.865.568.772.0

74.977.780 282.684.687.392 0

100.0107.3116.0

124.2133.3138.2144.3159.1179.1197.1216.7235.4258.3

226.5228.7229.9231.3232.5233.5

235.4237.7239.1241.5244.1244.8

248.3250.4251.8253.1254.4255.9

258.5260.6262.8265.3267.6270.7

Medicalcarecom-

modities

71.1

70.871.473.073.574.374.876.281.886.187.4

88.591.091.892.693.794.796.799.3

102 8104.4

104.5103.31017100.8100.5100.2100 5100.0100.2101.3

103.6105.4105.6105.9109.6118.8126.0134.1143.5153.8

138.8140.1141.0141.8142.7143.4

144.0144.5145.1145.9147.0148.0

148.8150.1150.7151.6152.4153.3

154.1155.0155.8156.6157.8159.2

1 Not available.Note.—Data beginning January 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-51.—Consumer price indexes by commodity and service groups, 1939-79

[1967 = 100]

Year or month

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978JanFebMar

May '.June


1979:JanFebMarAprMay::.:.:::::::::::::::::June

July. *AugSept ...OctNov.. ..Dec

Allitems

41.6

42.044.148.851.852.753.958.566.972.171.4

72.177.879.580.180.580.281.484.386.687.3

88.789.690.691.792.994.597.2100.0104.2109.8

116.3121.3125.3133.1147.7161.2170.5181.5195.4217.4

187.2188.4189.8191.5193.3195.3

196.7197.8199.3200.9202.0202.9

204.72071209.12115214.1216.6

218.9221.1223 4225.4227 5229.9

Commodities

Allcom-

modities

40.2

40.643.349.654.054.756.362.475.080.478.3

78.885.987.086.785.985.185.988.690.690.7

91.592.092.893.694.695.798.2100.0103.7108.4

113.5117.4120.9129.9145.5158.4165.2174.7187.1208.4

179.2180.2181.6183.5185.5187.5

188.6189.3190.5191.8192.9194.2

195.8198 3200.5203 3205.8208.4

210 5212.22141215.6217 4219.4

Food

34.6

35.238.445.150.349.650.758.170.676.673.5

74.582.884.383.082.881.682.284.988.587.1

88.089.189.991.292.494.499.1100.0103.6108.9

114.9118.4123.5141.4161.7175.4180.8192.2211.4234.5

199.2202.0204.2207.5210.3213.8

215.0215.4215.6216.8217.8219.4

223.9228 2230.4232 3234.3235.4

236 9236.32371238.22391241.7

Commodities less food

All

47.7

48.050.456.058.461.664.168.176.882.781.5

81.487.588.388.587.586.987.890.591.592.7

93.193.494.194.895.696.297.5100.0103.7108.1

112.5116.8119.4123.5136.6149.1156.6165.1174.7195.1

168.6168.8170.0171.3173.0174.4

175.4176.3177.8179.1180.3181.3

181.9183 7185^188 9191.6194.7

197 0199 52018203 4205 4207.2

Durable

48.5

48.151.458.460.365.970.974.180.386.287.4

88.495.196.495.793.391.591.594.495.997.3

96.796.697.697.998.898.498.5100.0103.1107.0

111.8116.5118.9121.9130.6145.5154.3163.2173.9191.1

166.6167.2168.3169.9172.0173.9

175.3175.9177.2178.8180.0181.2

182.0183 6184^187 2189.2191.1

192 6193 6194 5196 0198 4199.8

Non-durable

44.3

44.746.751.653.856.658.662.972.277.876.3

76.282.082.483.183.583.585.387.688.289.3

90.791.291.892.793.594.897.0100.0104.1108.8

113.1117.0119.8124.8140.9151.7158.3166.5174.3198.7

169.7169.6170.7171.8172.8173.7

174.1175.4177.1178.1179.1180.0

180.3182 2185J189 6193.2197.6

2011205 4209 6211.3212 9215.2

Allservices

43.5

43.644.245.646.447.548.249.151.154.356.9

58.761.864.567.369.570.972.775.678.580.8

83.585.286.888.590.292.295.8100.0105.2112.5

121.6128.4133.3139.1152.1166.6180.4194.3210.9234.2

202.0203.5204.9206.5208.0209.9

211.7213.4215.6217.6218.6219.2

221.1223 3225.1227 0229.5232.1

234 7237 6240 7243 6246 2249.3

Services

Rent

56.0

56.257.258.558.558.658.859.261.165.168.0

70.473.276.280.383.284.385.987.589.190.4

91.792.994.095.095.996.998.2100.0102.4105.7

110.1115.2119.2124.3130.6137.3144.7153.5164.0176.0

158.8159.7160.5161.5162.7163.6

164.2165.1166.4167.4168.5169.5

170.31710171.3172 0173.8174.7

175 9177 5179 0181.4182 1182.9

Serv-iceslessrent

38.1

38.138.640.342.144.245.146.749.051.954.5

56.059.362.264.866.768.270.173.376.479.0

81.983.985.587.389.291.595.3100.0105.7113.8

123.7130.8135.9141.8156.0171.9186.8201.6219.4244.9

209.8211.4213.0214.6216.2218.3

220.4222.2224.6226.7227.8228.2

230.4232 9235.0237 1239^242.6

245 6248 825212551258 2261.6

Special indexes

Allitemslessfood

47.2

47.348.752.153.655.756.959.464.969.670.3

71.175.777.579.079.579.781.183.885.787.3

88.889.790.892.093.294.596.7100.0104.4110.1

116.7122.1125.8130.7143.7157.1167.5178.4191.2213.0

183.8184.7185.9187.4189.0190.6

192.0193.3195.1196.7197.8198.6

199.82018203^206 3208.9211.8

214 2216 9219 6221.82241266.4

Allitemsless

energy

83.986.387.0

88.389.390.491.692.994.397.3100.0104.4110.3

117.0122.0126.1133.8146.9160.2169.2179.8193.8213.1

185.6186.7188.2190.0191.7193.6

195.0196.1197.6199.2200.4201.3

202.9205 2206.9208 8210 7212.2

213 8215.4217 3219.22214223.6

Allitemslessfoodandener-gy

83.385.287.0

88.389.390.591.693.094.396.6100.0104.6110.7

117.6123.1126.9131.3142.2155.3165.5175.8188.7207.0

181.4182.2183.4184.9186.4188.0

189.3190.5192.4194.0195.3196.0

197.0198 8200.4202 3204.1205.8

207 3209 42115213.62161218.1

Note.—Data beginning January 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-52.—Changes in consumer price indexes, major groups, 1948-79

[Percent change]

Year or month

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

1978:JanFebMartJune




All items

Dec.to

Dec 1

27- 1 . 8

5.85.9.9.6

- .5

.42.93.01.81.5

1.5.7

1.21.61.2

1.93.43.04.76.1

5.53.43.48.8

12.2

7.04.86.89.0

13.3

Yearto

year

78- 1 . 0

1.07.92.2.8.5

- .41.53.62.7.8

1.61.01.11.21.3

1.72.92.94.25.4

5.94.33.36.2

11.0

9.15.86.57.7

11.3

Commodities

Total

Dec.to

Dec.1

17- 4 . 1

7.75.9

-.7- .6

- 1 . 4

- .42.62.61.3.6

1.10

1.01.4.8

1.62.52.53.85.5

4.02.93.4

10.412.7

6.33.36.18.9

13.0

Yearto

year

72- 2 . 6

.69.01.3

- .3- .9

- .9.9

3.12.3.1

.9

.5

.9

.91.1

1.22.61.83.74.5

4.73.43.07.4

12.0

8.94.35.87.1

11.4

Food

Dec.to

Dec.'

08- 3 . 7

9.67.4

- 1 . 1- 1 . 3- 1 . 6

- .93.12.82.2

- .8

3.1- .91.51.91.4

3.43.91.24.37.2

2.24.34.7

20.112.2

6.5.6

8.011.810.2

Yearto

year

85- 4 . 0

1.411.11.8

- 1 . 5- .2

- 1 . 4.7

3.34.2

- 1 . 6

1.01.3.9

1.41.3

2.25.0.9

3.65.1

5.53.04.3

14.514.4

8.53.16.3

10.010.9

Commoditiesless food

Dec.to

Dec.1

53- 4 . 8

5.74.6

_ 5.2

- 1 . 4

02.52.2.8

1.5

- .3.6.7

1.2.4

.71.93.13.74.5

4.82.32.55.0

13.2

6.25.14.97.7

14.3

Yearto

year

77- 1 . 5

_ i

is.9.2

- 1 . 1

- .71.03.11.11.3

.4

.3

.7

.7

.8

.61.42.63.74.2

4.13.82.23.4

10.6

9.25.05.45.8

11.7

Services

Dec.to

Dec.1

613.6

3.65.24.64.21.9

2.33.14.52.73.7

2.71.91.72.31.8

2.64.94.06.17.4

8.24.13.66.2

11.3

8.17.37.99.3

13.7

Yearto

year

634.8

3.25.34.44.33.3

2.02.54.03.82.9

3.32.01.92.01.9

2.23.94.45.26.9

8.15.63.84.49.3

9.58.37.78.5

11.0

All items lessfood

Dec.to

Dec.1

55-.8

4.15.01.71.7

0

.92.63.21.62.3

1.01.11.21.61.0

1.63.33.54.95.7

6.53.13.05.6

12.2

7.16.26.38.5

14.0

Yearto

year

721.0

1.16.52.41.9.6

.31.83.32.31.9

1.71.01.21.31-3,

1.42.33.44.45.5

6.04.63.03.99.9

9.36.66.57.2

11.4

Change from preceding month

Unad-justed

066799

10

768854

.91210111212

111010

99

1.1

Sea-sonally

ad-justed

0768889

.669866

.91.21.01.11.11.0

1.01.11.11.01.01.2

Unad-justed

05.68

101111

646767

.81.31.11.41.21.3

1.0.8.9.7.8.9

Sea-sonally

ad-justed

08.5.8.9.8.9

.4

.5

.8

.8

.78

1.11.21.11.2.9

1.0

.9

.91.1.8.9

1.1

Unad-justed

151.41.11.61.31.7

.6

.2

.1

.6

.57

2.11.91.0.8.9.5

.6- .3

.3

.5

.41.1

Sea-sonally

ad-justed

121.11.21.71.21.4

.1

.4

.7

.9

.610

1.41.61.11.0.7.2

.1

.0

.9

.8

.51.3

Unad-justed

0.1

'.7.8

1.0.8

.6

.5

.9

.7

.76

.31.01.21.61.41.6

1.21.31.2.8

1.0.9

Sea-sonally

ad-justed

07.2.6.5.6.6

.6

.6

.9

.7

.78

.91.01.11.31.11.3

1.21.31.2.8

1.11.1

Unad-justed

07.7.7.8.7.9

.9

.81.0.9.53

.91.0.8.8

1.11.1

1.11.21.31.21.11.3

Sea-sonally

ad-justed

06.8.8.9.9.9

.8

.8

.9

.9

.54

.51.1.9.9

1.31.0

1.11.21.11.21.11.3

Unad-justed

04.5.6.8.9.8

.7

.7

.9

.8

.64

.61.01.01.21.31.4

1.11.31.21.01.01.0

Sea-sonally

ad-justed

07.5.7.7.7.7

.7

.7

.8

.8

.66

.81.01.01.21.21.1

1.21.31.21.01.11.2

1 Changes from December to December are based on unadjusted indexes.Note.—Data beginning January 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B—53.—Changes in special consumer price indexes, 1958-79

[Percent change]

Voor nr mnnthTear or rnonin

19581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

1978:janFebMar

May '.June


1979JanFebMar

MayJune


All items

Dec.to

Dec.3

181.5

157

121612

1934304761

55343488

12 2

70486890

13.3

Un-adjusted

0.6.6.7

coco

1.0

.7

.6

.8

.8

.5

.4

.91.21.01.11.21.2

1.11.01.0.9.9

1.1

Yearto

Year

2.7.8

1610111213

1729294254

59433362

110

91586577

11.3

Sea-sonally

adjusted

0.7.6.8.8.8.9

.6

.6

.9

.8

.6

.6

.91.21.01.11.11.0

1.01.11.11.01.01.2

All items lessfood

Dec.to

Dec.3

1.62.3

1.01.11.21.61.0

1.63.33.54.95.7

6.53.13.05.6

12.2

7.16.26.38.5

14.0

Un-adjusted

0.4

'.e.8.9.8

.7

.7

.9

.8

.6

.4

.61.01.01.21.31.4

1.11.31.21.01.01.0

Yearto

Year

231.9

1.71.01.21.31.3

1.42.33.44.45.5

6.04.63.03.99.9

9.36.66.57.2

11.4

All items lessenergy1

Dec.to

Dec.3

191*4

1.4.8

1.21.81.3

1.93.53.14.96.4

5.63.33.58.3

11.5

6.74.66.89.2

11.1

Yearto

Year

2.9

1.51.11.21.31.4

1.53.22.84.45.7

6.14.33.46.19.8

9.15.66.37.8

10.0

All items lessfood andenergy1

Dec.to

Dec.3

182.2

.81.51.11.81.2

1.53.33.95.16.1

6.63.13.04.7

11.3

6.76.16.48.5

11.3

Change from preceding month

Sea-sonally

adjusted

0.7

.7

.7

.7

.7

.7

.7

.8

.8

.6

.6

.81.01.01.21.21.1

1.21.31.21.01.11.2

Un-adjusted

0.7.6.8

1.0.9

1.0

.7

.6

.8

.8

.6

.4

.81.1.8.9.9.7

.8

.7

.9

.91.01.0

Sea-sonally

adjusted

0.7.5.9.8.8

1.0

.5

.7

.8

.8

.8

.7

.81.0.8.8.7.7

.6

.81.0.9

1.11.3

Un-adjusted

0.4.4.7

bo b

o

.9

.7

.61.0.8.7.4

.59.8.9.9.8

.71.01.01.01.2.9

Yearto

Year

2.3

1.51.11.31.21.5

1.42.43.54.65.8

6.24.73.13.58.3

9.26.66.27.39.7

Sea-sonally

adjusted

0.8.4.6.7.8.8

.7

.7

.8

.7

.7

.6

.89.7.8.8.8

.71.0.8

1.01.11.2

All items lesshome purchaseand finance2

Dec.to

Dec.3

4.35.5

4.73.73.39.0

12.2

6.75.16.38.1

11.3

Un-adjusted

0.5.6.8.9.9

1.0

.5

.5

.5

.7

.5

.5

.91.0.9

1.11.21.1

.9

.8

.8

.6

.6

.9

Yearto

Year

4.14.7

5.14.53.16.6

11.1

8.85.86.56.9

10.0

Sea-sonally

adjusted

0.6.4.8.7.7.9

.4

.6

.6

.8

.6

.7

1.0.8.9.9

1.11.0

.8

.9

.9

.6

.71.0

1 Seasonally adjusted data are estimates.2 All items less home purchase and financing, taxes, and insurance. All data are estimates.3 Changes from December to December are based on unadjusted indexes.Note.—Data beginning January 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-54.—Producer price indexes by stage of processing, 1947-79

[1967=100]

Year or month

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977197819791

1978:Jan ....FebMar

tJuneJulyAugSeptOctNovDec

1979: *JanFebMarMayJuneJulyAugSeptOctNovDec

Finished goods

Totalfinishedgoods

74 079.977.6

79.086.586.085.185.3

85.587.991.193.293.0

93.793.794.093.794.1

95.798.8100.0102.9106.6

110.3113.7117.2127.9147.5

163.4170.3180.6194.6215.9

187 0188.5189.1191.5193.1194.5196.0195.6197.1199.6200.3202.5

205 4207.7209.1211.4212.7213.7

216.2217.3220.4223.7225.9227.8

Consumer foods

Total

82 890.483.1

84.795.294.389.488.7

86.586.389.394.590.1

92.191.792.591.491.9

95.4101.6100.0103.7110.0

113.5115.3121.7146.4166.9

181.0180.2189.1206.7226.3

195.0199.6200.2204.5206.8209.5210.4205.9209.4212.0211.7215.8

220 2225.1226.3227.8226.6223.6

224.9223.5227.8226.7230.5232.0

Crude

99 4107.1101.3

92.2105.9112.8105.294.7

98.898.797.4103.594.3

100.696.197.095.598.2

98.6104.8100.0107.5116.0

116.3115.8121.2160.7180.8

181.2194.8201.8215.5231.3

197.9210.2207.5220.2212.0211.7234.1212.8213.7212.9220.8232.1

236 7257.2244.6241.8226.7227.1

224.9231.7213.9215.4228.0227.8

Proc-essed

80 287.680.1

83.493.291.386.787.6

84.484.387.993.189.5

90.790.991.790.790.8

94.9101.0100.0103.0108.9

113.1115.1121.7143.9164.6

181.3177.4186.4204.1223.7

192.9196.9197.8201.4204.4207.3206.6203.4207.1209.9209.0212.5

216 9220.5222.8224.6224.4221.3

222.8220.7226.8225.4228.6230.1

Finished goods excluding consumer foods

Total

160F102.6105.4

109.1113.1115.4120.1139.3

156.2165.5176.2188.9210.6

182.7183.2183.8185.6186.9188.0189.6190.4191.4193.7194.8196.4

198 8200.2201.7204.2206.3208.5

211.4213.2215.9220.6222.2224.3

Consumer goods

Total

79 084.082.2

83.589.588.389.189.4

90.192.394.694.795.9

96.396.296.096.095.9

96.698.1100.0102.1104.6

107.7111.4113.4118.5138.6

153.1161.8172.1183.7208.1

177.4177.8178.3180.5181.9182.9184.8185.7186.5188.3189.0191.0

193 4194.9196.7199.3202.1205.2

208.9212.3215.9220.6222.4225.0

Durable

74 679.781.8

82.788.288.989.690.3

91.294.397.198.499.6

99.298.898.397.898.2

97.998.5100.0102.2104.0

106.9110.8113.2115.8126.3

138.2144.4152.2165.8181.5

158 5158.3159.0163.2165.0165.3167.7168.4169.1170.9170.7173.0

175 2176.2176.8178.4179.5180.4

181.6181.1182.0187.4188.5191.2

Non-durable

80 785.882.3

83.690.087.888.688.9

89.491.193.292.694.0

94.794.794.895.194.8

95.997.8100.0102.2105.0

108.3111.7113.6120.5146.8

163.0173.3185.4195.4225.8

189 9190.7191.1191.8192.9194.4195.9196.9197.8199.7201.1202.7

205 4207.2209.8213.1217.1221.7

227.1233.4238.9243.0245.2247.8

Capitalequipment

55 460.463.4

64.971.272.473.674.5

76.782.487.589.891.5

91.791.892.292.493.3

94.496.8100.0103.5106.9

112.0116.6119.5123.5141.0

162.5173.2184.5199.1216.6

193 0193.7194.6195.6196.9198.1199.2200.0201.1204.4206.1207.0

209 3210.8211.7214.0215.1215.8

217.2216.5217.7222.5223.8225.1

Totalconsumerfinishedgoods

80 586.582.5

83.991.890.789.289.1

88.589.892.494.493.6

94.594.394.694.194.3

96.199.4100.0102.7106.6

109.9112.9116.6129.2149.3

163.6169.0178.9192.6215.5

184 4186.2186.8189.7191.4193.0194.6193.6195.4197.5197.9200.5

203 7206.3207.9210.2211.6212.7

215.6217.5221.3224.1226.6228.8



TABLE B-54.—Producer price indexes by stage of processing, 1947-79—Continued

[1967=100]

Year or month

Intermediate materials, supplies, and components

TotalFoodsand

feeds2Other

Materials andcomponents

Formanufac-

turing

Forcon-

struction

Proc-essedfuelsand

lubri-cants

Con-tainers

Supplies

Crude materials for further processing

Total

Food-stuffsandfeed-stuffs

Other

Total Fuel Other

194719481949

19501951195219531954

19551956195719581959

72.478.375.2

78.688.185.586.086.5

88.192.094.194.395.6

19601961196219631964

19651966196719681969

19701971197219731974

197519761977197819791

1978:JanFebMar

fKyZZZZZZZZJune


1979:1

JanFebMar

fc::::=June


95.695.094.995.295.5

96.899.2100.0102.3105.8

109.9114.1118.7131.6162.9

180.0189.3201.7215.5242.7

207.2208.9210.7212.5213.9215.1

216.0217.3218.7220.8222.0223.0

225.7228.5231.5235.8238.2240.3

244.6247.5250.7254.6256.1258.4

100.099.4

102.7

109.1111.7118.5168.4200.2

195.3186.6191.0201.0223.2

189.6189.9197.9200.6200.8201.9

201.5198.8203.4207.6207.7212.2

214.3218.2218.9220.7219.3223.0

231.0223.1226.6226.0227.0230.0

70.076.174.2

77.787.084.385.385.7

88.392.695.094.896.4

96.895.595.395.095.6

96.998.9

100.0102.6106.1

109.9114.3118.9128.1159.5

178.6189.5202.4216.4243.8

208.2210.1211.5213.3214.7215.9

216.8218.4219.6221.7222.9223.7

226.5229.1232.3236.7239.3241.3

245.4249.0252.1256.4257.8260.1

72.177.874.5

78.188.584.886.286.3

88.492.694.895.296.5

96.595.394.794.995.9

97.499.3

100.0102.2105.8

110.0112.8117.0127.7162.2

178.7185.6195.5208.3234.0

200.0202.2203.5205.5206.5207.4

208.2210.1211.7213.9215.0215.6

218.6221.6224.5229.0230.9232.1

236.0238.0240.5243.9245.2247.5

66.073.173.2

77.084.383.785.185.5

88.993.594.094.096.6

95.994.694.294.595.4

96.298.8

100.0104.9110.8

112.6119.7126.2136.7161.6

176.4188.0202.9224.4246.8

212.7216.3218.3220.8222.5224.3

226.2228.3229.1230.2232.1232.5

236.1239.0241.3244.5245.2245.6

247.4249.2251.6254.4253.8253.6

85.596.988.2

89.993.992.893.493.3

93.396.3

101.996.095.6

98.299.499.098.196.0

97.499.2

100.097.798.7

105.0115.2118.9131.5199.1

233.0250.8283.8296.4360.9

291.2291.7294.3294.8297.3299.9

298.1296.8296.8297.6297.6300.4

302.0304.8312.9323.9336.8349.5

364.8384.6399.4410.5416.5424.6

66.869.870.1

72.084.579.980.081.5

82.688.692.594.794.2

95.594.795.994.794.0

95.898.4

100.0102.4106.3

111.4116.6121.9129.2152.2

171.4181.5193.1212.5234.9

202.2204.3205.7206.6209.3211.7

213.5214.6216.4221.2221.7222.6

223.9224.3229.3231.8234.5234.9

235.4237.6237.1240.8243.5246.1

77.581.076.3

78.988.888.884.386.3

84.887.188.090.091.2

90.791.893.895.294.3

95.299.4

100.0101.2102.8

108.0111.0115.6140.6154.5

168.1179.1188.0196.9217.5

190.5189.8192.7194.0195.1195.8

197.1196.9199.0202.2204.0206.1

207.4209.6211.1212.8213.7216.1

219.6219.6220.8224.4226.0228.4

101.2110.996.0

104.6120.1110.3101.9101.0

97.197.699.8

102.099.4

97.096.597.595.494.5

99.3105.7100.0101.6108.4

112.3115.1127.6174.0196.1

196.9205.1214.3240.1282.2

219.6225.0230.5239.0241.2245.4

245.4240.2244.8249.2248.4252.5

260.2270.4276.6279.9282.3283.0

287.1281.7287.9289.2290.8296.7

111.7120.8100.3

107.6124.5117.2104.9104.9

95.193.197.2

103.096.2

95.193.895.792.990.8

97.1105.9100.0101.3109.3

112.0114.2127.5180.0189.4

191.8190.1190.9215.3247.1

194.0201.3206.3216.3219.1223.7

222.0213.2218.4224.0220.9224.8

233.0243.7247.4251.5251.9248.2

254.1243.7248.7247.1246.4249.7

100.0102.2106.8

112.7117.0128.0162.5208.9

206.9233.6258.4286.7348.3

267.8269.7276.2281.6282.6286.1

289.3291.2294.5296.7300.2304.8

311.5320.7331.6333.3339.6348.7

349.3353.6362.1368.9374.8385.8

66.678.778.3

77.979.479.982.779.0

78.884.489.290.391.9

92.892.692.193.292.8

93.596.3

100.0102.3106.6

122.6139.0148.7164.5219.4

271.5314.7400.4463.7568.2

430.3431.7441.9454.7458.3465.8

471.8470.8478.4480.1485.0495.1

504.3513.9525.2529.2556.8563.1

570.7586.2599.4611.4616.8641.8

90.6100.791.6

104.7120.7104.6100.198.2

103.8107.6106.2102.2105.8

101.4102.5102.0100.7102.4

104.5106.7100.0102.1106.9

109.8110.7121.9161.5205.4

188.3210.2217.3235.4284.6

220.7222.7228.1231.4231.7234.0

236.4239.1241.1243.5246.6249.6

255.6264.7275.5276.5276.6286.6

285.2286.1293.3298.6304.6311.5

1 Data have been revised through August 1979 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.

2 Intermediate materials for food manufacturing and manufactured animal feeds.

Source.- Department of Labor, Bureau of Labor Statistics.


TABLE B-55.—Producer price indexes by stage of processing, special groups, 1974-79

[1967=100]

Year or month

1974

197519761977197819792

1978:JanFebMar

June

JulyAug

8fc=NovDec

1979:2

JanFebMar

tJune

JulyAugSept..OctNovDec

Finished goods

Total

147.5

163.4170.3180.6194.6215.9

187.0188.5189.1191.5193.1194.5

196.0195.6197.1199.6200.3202.5

205.4207.7209.1211.4212.7213.7

216.2217.3220.4223.7225.9227.8

Food

166.9

181.0180.2189.2206.7226.3

195.0199.6200.2204.5206.8209.5

210.4205.9209.4212.0211.7215.8

220.2225.1226.3227.8226.6223.6

224.9223.5227.8226.7230.5232.0

Energy

215.2

252.4274.5305.0318.1438.1

311.3309.7308.2308.3310.2313.6

317.7321.4324.0327.6329.3336.0

340.8346.1356.7372.1392.4415.7

445.8474.1505.1525.8535.7546.7

Excluding food andenergy

Total

133.5

148.5156.7166.1178.6194.2

172.5173.1173.9175.7177.0177.9

179.3180.0180.8183.1184.1185.3

187.5188.8189.7191.4192.4193.3

194.5194.8195.8199.5200.6202.1

Capi-tal

equip-ment

141.0

162.5173.2184.5199.1216.6

193.0193.7194.6195.6196.9198.1

199.2200.0201.1204.4206.1207.0

209.3210.8211.7214.0215.1215.8

217.2216.5217.7222.5223.8225.1

Con-sumergoodsexclud-

ingfoodand

energy

129.1

141.0148.0156.1167.4182.1

161.2161.8162.5164.9166.2167.0

168.6169.2169.9171.5172.1173.6

175.8176.9177.8179.1180.2181.2

182.3183.2184.1187.2188.1189.8

Intermediate materials,supplies, and components

Total

162.9

180.0189.3201.7215.5242.7

207.2208.9210.7212.5213.9215.1

216.0217.3218.7220.8222.0223.0

225.7228.5231.5235.8238.2240.3

244.6247.5250.7254.6256.1258.4

Foodsand

feeds1

200.2

195.3186.6191.0201.0223.2

189.6189.9197.9200.6200.8201.9

201.5198.8203.4207.6207.7212.2

214.3218.2218.9220.7219.3223.0

231.0223.1226.6226.0227.0230.0

Energy

188.7

220.8237.3268.3281.2344.6

275.8276.3278.7279.3281.8284.3

283.0281.9282.0282.8282.8285.6

287.6290.2297.7308.3320.7333.7

348.1366.9382.2392.6399.6407.5

Other

156.7

174.7184.9196.0210.1233.9

201.7203.7205.0206.9208.2209.2

210.4212.2213.6215.7217.1217.7

220.5223.2225.9229.7231.4232.3

235.3237.4239.3242.9243.8245.6

Crude materials for furtherprocessing

Total

196.1

196.9205.1214.3240.1282.2

219.6225.0230.5239.0241.2245.4

245.4240.2244.8249.2248.4252.5

260.2270.4276.6279.9282.3283.0

287.1281.7287.9289.2290.8296.7

Food-stuffsand

feed-stuffs

189.4

191.8190.1190.9215.3247.1

194.0201.3206.3216.3219.1223.7

222.0213.2218.4224.0220.9224.8

233.0243.7247.4251.5251.9248.2

254.1243.7248.7247.1246.4249.7

Energy

223.0

266.9291.0344.9390.7479.4

367.4368.6375.6383.3386.0391.4

396.0396.1401.3403.1406.8413.0

419.4427.0433.7436.7455.3467.8

478.1492.9516.0528.8537.7559.8

Crudematerialsexcludingagricul-

turalproducts

andenergy

213.7

167.8192.5193.0216.4270.0

200.3205.1208.6213.8210.9214.4

217.6220.8221.3223.7228.2231.5

241.9259.6282.7282.9275.9282.2

274.1267.4262.4266.2271.4273.3

1 Intermediate materials for food manufacturing and manufactured animal feeds.2 Data have been revised through August 1979 to reflect the availability of late reports and corrections by respondents. All data are

subject to revision 4 months after original publication.



TABLE B-56.—Producer price indexes by major commodity groups, 1929-79

[1967=100]

Year or month

1929193319391940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 2

1978JanFebMarNfay '.June


1979 2

JanFebMar

June


Farm products and processedfoods and feeds

Total

94 3101.589 6

93 9106 9102 796 095.791290 693.798193 5

93 793 794 793 893 2971

103 5100 0102 4108 0

1117113 9122 4159.1177 4184 21831188 8206 6229 8

192 2196 8200 0205 5207 6210 4

210 3205 3209 4213 2212.3216 2

2211227 2229 02312230 8229 0

232 2227 52317230 6232 3234.5

Farmproducts

64.131.440.041.450.364.875.075.578.590.9109.4117.5101.6

106.7124.2117.2106.2104.798.296.999.5103.997.5

97.296.398.096.094.698.7105.9100.0102.5109.1

111.0112.9125.0176.3187.7186.7191.0192.5212.5241.4

192.2198.9204.2213.7215.8219.5

219.9210.3215.1219.4218.2222.7

230.4240.9242.8246.0245.4242.8

246.8238.5241.0239.5240.2242.5

Processedfoods andfeeds

82.988.780.6

83.492.791.687.488.985.084.987.491.889.4

89.591.091.992.592.395.5101.2100.0102.2107.3

112.1114.5120.8148.1170.9182.6178.0186.1202.6222.5

191.5194.9196.9200.2202.4204.6

204.2201.8205.5209.0208.2211.8

215.2218.9220.5222.3222.0220.6

223.3220.5225.7224.8227.1229.2

Industrial commodities

Total

48.637.843.344.047.350.751.552.353.058.070.876.975.3

78.086.184.184.885.086.990.893.393.695.3

95.394.894.894.795.296.498.5100.0102.5106.0

110.0114.1117.9125.9153.8171.5182.4195.1209.4236.3

201.6202.9204.1206.1207.4208.7

210.1211.4212.5214.7216.0217.2

220.0222.5225.4229.0231.6234.0

237.5240.6243.8248.5250.2252.8

Textileproducts

andapparel

103.6108.198.9

102.7114.6103.4100.898.698.798.798.897.098.4

99.597.798.698.599.299.8100.1100.0103.7106.0

107.1109.0113.6123.8139.1137.9148.2154.0159.8168.6

156.5157.0157.4157.9158.6159.2

160.0160.5161.3162.3163.2163.6

164.1164.2165.2166.4167.2168.4

169.3170.5171.3171.9172.4172.8

Hides,skins,leather,and

relatedproducts

48.936.342.845.248.452.852.752.252.961.183.384.279.9

86.399.180.181.377.677.381.982.082.994.2

90.891.792.790.090.394.3103.4100.0103.2108.9

110.3114.1131.3143.1145.1148.5167.8179.3200.0252.2

185.8187.2187.9191.9193.6195.3

197.3205.1210.7213.0215.8216.2

223.4232.2253.3258.9269.6268.0

261.9257.9250.7253.6248.5248.9

Fuels andrelated

products,and

powerl

59.447.652.351.454.656.257.859.560.164.476.990.586.2

87.190.390.192.691.391.294.099.195.395.3

96.197.296.796.393.795.597.8100.098.9100.9

106.2115.2118.6134.3208.3245.1265.6302.2322.5408.1

312.8312.9315.3317.3319.7323.2

324.5324.9326.7328.5329.7334.3

338.1342.5350.9361.5377.6393.7

411.8432.8454.4468.3476.7488.7

Chemicalsand alliedproductsl

47.'451.552.457.063.364.164.865.270.593.795.987.6

88.9101.796.597.798.998.599.1101.2102.0101.6

101.8100.799.197.998.399.099.4100.099.899.9

102.2104.1104.2110.0146.8181.3187.2192.8198.8222.1

194.1195.2196.1196.9198.6198.9

199.8199.5200.3201.6202.3202.3

205.0207.3209.9215.1218.0219.2

225.0228.5230.3233.5235.6238.1



TABLE B-56. —Producer price indexes by major commodity groups, 1929-79—Continued[1967 = 100]

Year or month

192919331939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 2

1978:JanFebMar

JuneJulyAugSeptOctNovDec.

1979:2

JanFeuMara;JuneJulyAugSeptOctNovDec

Industrial commodities—Continued

Rubberand

plasticproducts

59 440.261.257 161571.673 672.770.570 870.572.870.585.9

105.495.589.190.4

102.4103.8103.4103.3102.9103.199.296.396.895.595.997.8

100.0103.4105.3108.3109.1109.3112.4136.2150.2159.2167.6174 8194.1

170.2170.2171.4172.8173.8174.5174.9175.7176.7178.1179.4179.7

180.8183.2185.9188.8190.8193.1195.5198.8200.3202.4204.3205.7

Lumberand

woodproducts

25 019.024.827.432 735.637 740.641.247 273.484.077.789.397.294.494.392.697.198.593.592.498.895.391.091.693.595.495.9

100.2100.0113.3125.3113.6127.3144.3177.2183.6176.9205.6236.3276.0300.3

256.4263.7266.2269.6273.4278.5277.5281.6282.8284.2290.0288.6

290.2293.9300.5304.9302.8299.8300.1304.7309.7308.8299.0289.8

Pulp,paper,

andallied

products

72.575.772.474.388.085.785.585.587.893.695.496.497.398.195.296.395.695.496.298.8

100.0101.1104.0108.2110.1113.4122.1151.7170.4179.4186.4195.6218.9

188.0188.6189.7191.9193.2193.5195.5195.8199.0202.4203.9205.2

207.0208.8212.3215.0216.2216.6218.3222.2222.8227.2229.3231.0

Metalsand

metalproducts

40 230.737.637.838 539.139 039.039.644 354.962.563.066.373.873.976.376.982.189.291.090.492.392.491.991.291.393.896.498.8

100.0102.6108.5116.6118.7123.5132.8171.9185.6195.9209.0227.1259.3

215.2219.1221.1223.9224.6225.9227.3231.0231.4234.1235.5236.6

241.9247.3251.7256.0256.2258.2260.8261.8263.6269.4270.9273.5

Machineryand

equipment

41.341.442142.842.442.142.246 453.758.261.063.170.570.672.273.475.781.887.689.491.392.091.992.092.292.893.996.8

100.0103.2106.5111.4115.5117.9121.7139.4161.4171.0181.7196.1213.8

189.3190.3191.6192.7193.9195.3196.5197.5198.8200.5202.7203.8

205.1206.5207.9209.8211.4212.4214.8216.0217.6219.6221.0222.9

Furnitureand

householddurables

55.844.652.653.857.261V861.463.163.267177.081.682.984.791.890.191.992.993.395.898.399.199.399.098.497.797.097.496.998.0

100.0102.8104.9107.5110.0111.4115.2127.9139.7145.6151.5160.4171.0

156.5156.7157.7158.4159.2159.5161.4161.8162.0162.9163.5164.6

166.6167.9168.3168.7169.6170.2170.7171.5171.7174.1175.6177.0

Non-metallicmineral

products

51247.249.149.150 252.352.453.555.759 366.371.673.575.480.180.183.385.187.591.394.895.897.097.297.697.697.197.397.598.4

100.0103.7107.7112.9122.4126.1130.2153.2174.0186.3200.5222.8248.3

212.9215.1215.9218.4219.3222.0224.7227.2228.2229.1230.0231.1

238.3240.5240.8243.4245.6246.9249.5249.9252.2255.6257.1259.2

Transpor-tationequip-ment:Motor

vehiclesand

equip-ment3

41.934.839.140.443.247.247.247.548.356 064.170.875.775.379.484.083.683.886.391.295.198.1

100.398.898.698.697.898.398.598.6

100.0102.8104.8108.7114.9118.0119.2129.2144.6153.8163.7176.0190.3

171.3171.8171.9172.9174.6175.0175.5175.8175.9181.8182.5182.8

185.0185.9186.1189.4189.8190.1190.8187.8188.1196.3197.0197.6

Miscella-neous

products

73.576.578.079.283.983.485.686.486.587.690.292.092.293.093.393.794.595.295.997.7

100.0102.2105.2109.9112.9114.6119.7133.1147.7153.7164.3184.3208.3

171.6171.3172.6181.4182.6184.3189.7191.3192.9190.8189.2193.6

197.7199.8200.6201.4203.3205.2207.0208.9212.3216.8219.0227.2

1 Prices for some items in this grouping are lagged and refer to 1 month earlier than the index month.2 Data have been revised through August 1979 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.

3 Index for total transportation equipment is not shown but is available beginning December 1968.Source.- Department of Labor, Bureau of Labor Statistics.

26929U-289 0 - 8 0 - 1 8


TABLE B-57.—Changes in producer price indexes for finished goods, 1948-79

[Percent change]

Year or month

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 2



1979:2

JanFebMarAprMayJune


Total finishedgoods

Dec.to

Dec.1

3.0-4 .6

10.42.9

-2 .2.5

- . 1

1.24.232

.5_ 4

1.8- . 5

.1- . 2

.5

3.32.21.63.14.8

2.23.23.8

11.818.3

6.63.36.69.2

12.5

Yearto

year

8.0- 2 . 9

1.89.5

- . 6- 1 . 0

.2

.22.8362.3

_ 2

.80.3

A

1.73.21.22.93.6

3.53.13.19.1

15.3

10.84.26.07.8

10.9

Consumerfinished foods

Dec.to

Dec.1

- 2 . 4-7 .4

13.35.3

-5 .9-2 .2- 1 . 9

- 2 . 93.653.4

- 3 7

5.2- 1 . 8

.5- 1 . 3

.4

9.11.4

- . 44.88.2

- 2 . 55.98.0

22.513.0

5.5- 2 . 5

6.611.97.5

Yearto

year

9.2- 8 . 1

1.912.4- . 9

-5 .2- . 8

- 2 . 5- . 2355.847

2.2- . 4

.9-1 .2

.5

3.86.5

-1 .63.76.1

3.21.65.6

20.314.0

8.4- . 44.99.39.5

Finished goods excluding consumer foods

Total

Dec.to

Dec.1

2.43.4

4.32.12.06.7

21.2

7.25.56.68.3

14.2

Yearto

year

2.62.7

3.53.72.04.1

16.0

12.16.06.57.2

11.5

Consumergoods

Dec.to

Dec.1

4.0- 4 . 5

8.2.9

- 1 . 11.6.3

1.72.51.7.2.8

.4- . 3- . 1

.1

.1

.91.72.12.02.9

3.92.02.07.4

20.5

6.74.96.18.4

17.8

Yearto

year

6.3- 2 . 1

1.67.2

- 1 . 3.9.3

.82.42.5

.11.3

.4- . 1- . 20

- . 1

.71.61.92.12.4

3.03.41.84.5

17.0

10.55.76.46.7

13.3

Capitalequipment

Dec.to

Dec.1

10.4- . 6

10.33.4

.82.31.1

5.68.34.31.31.0

.1

.2

.3

.9

1.53.93.13.04.6

4.92.42.05.3

22.6

8.26.47.28.08.7

Yearto

year

9.050

2497171712

3074622619

2142

10

1225333533

4841253.3

14.2

15.26.66.57.98.8

Percent change from preceding month

Unad-justed

0.8.8.3

1.3.8.7

.8- . 2

.81.3.4

1.1

1.41.1.7

1.1.6.5

1.2.5

1.41.51.0

.8

Sea-son-

justed

0.7.8.6

1.1.7.7

.7

.3

.8

.8

.71.0

1.31.11.0.9.4.5

1.11.01.41.01.3.8

Unad-justed

1.12.4

.32.11.11.3

.4- 2 . 1

1.71.2

_ j

L9

2.02.2.5.7

- . 5- 1 . 3

.6- . 61.9

- . 51.7.7

Sea-son-allyad-

justed

1.01.91.01.0

31.4

.1- . 4151.6.8

1.2

1.81.81.2

- . 4- 1 . 5-1 .2

.21.21.7

- . 12.6

- . 1

Unad-justed

0.7.3.3

1.07.6

.9

.4

.51.2.6.8

1.2.7.7

1.21.01.1

1.4.9

1.32.2

.7

.9

Sea-son-allyad-

justed

0.6.4.5

1.08.5

.9

.5

.6

.5

.71.0

1.1.9.9

1.31.11.1

1.4.9

1.31.4.8

1.2

Unad-justed

0.7.2.3

1.28.5

1.0.5.4

1.0.4

1.1

1.3.8.9

1.31.41.5

1.81.61.72.2

.81.2

Sea-son-

justed

0.5.3.5

1.38.4

1.0.5.5.4.6

1.2

1.2.9

1.11.31.51.4

1.81.71.81.61.01.3

Unad-justed

0.7.4.5.57.6

.6

.4

.61.6.8.4

1.1.7.4

1.1.5.3

.6- . 3

.62.2

.6

.6

Sea-son-allyad-

justed

0.6.6.5.78.8

.7

.4

.5

.6

.8

.6

1.0.9.6

1.2.6.6

.8- . 3

.61.2.5.9

Finishedenergy goods

Dec.to

Dec1

16.45.49.18.0

62.7

Yearto

year

17.38.8

11.14.3

37.7

Finished goodsexcluding food

and energy

Dec.to

Dec.1

6.15.46.38.29.1

Yearto

year

11.25.56.07.58.7

Unad-justed

0.0- . 5- . 5

.06

1.1

1.31.2.8

1.1.5

2.0

1.41.63.14.35.55.9

7.26.36.54.11.92.1

Sea-son-allyad-

justed

0.6- . 6- . 3

.31

.4

.3

.7

.91.71.12.4

2.11.53.34.54.95.3

6.25.86.74.72.52.4

Unad-justed

0.8.3.5

1.07.5

.8

.4

.41.3

.5

.7

1.2.7.5.9.5.5

.6

.2

.51.9.6.7

Sea-son-allyad-

justed

0.5.6.6

1.19.6

.9

.5

.5

.3

.7

.8

1.0.9.6.9.7.6

.8

.3

.61.0.6

1.0

1 Changes from December to December are based on unadjusted indexes.2 Data have been revised through August 1979 to reflect the availability of late reports and corrections by respondents. All data are

subject to revision 4 months after original publication.Source: Department of Labor, Bureau of Labor Statistics.

270


MONEY STOCK, CREDIT, AND FINANCE

TABLE B-58.—Money stock measures, 1953-79

[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]

Year and month

Overall measures1

Ml M1 + M2 M3

Components and related items

Cur-rency

Deposits at commercial banks

Demand

Time and savings

Total

Time

LargeCDs2 Other

Savings!

Depos-its atnon-bankthrift

institu-tions4

Check-able

depositsat

nonbankthrift

institu-tions

(unad-justed) 5

U.S.Govern-ment

deposits(unad-

justed) 6

1953: Dec.1954: Dec1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec

I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec1968: Dec1969: Dec

1970: Dec1971: Dec1972: Dec1973: Dec1974: Dec1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec.

1978:Jan...FebMar

tJune.

July

NovDec

1979:JanFebMar

tJuneJulyAugSeptOctNovDec...

128.8132.3135.2136.9135.9141.1143.4

144.2148.7150.9156.5163.7171.4175.8187.4202.5209.0

219.7233.9255.3270.5283.2295.4313.8338.7361.5382.1

341.9342.4343.2347.9350.7352.5

354.4356.7360.7361.2360.7361.5

360.2359.4360.0365.5365.7370.3

373.5375.6379.2380.0380.5382.1

280.7297.7301.8

317.2345.7378.9397.9419.5456.8517.2560.6586.1592.7

564.6565.3566.4572.1576.1578.6

580.0583.4589.2589.4587.0586.1

581.9578.8578.3584.0583.1589.2

594.3597.6601.2598.8592.9592.7

210.9

217.1228.6242.9258.9277.1301.4318.2350.0383.3392.4

423.6471.8525.3571.3612.2664.8740.6809.4879.0952.6

816.0819.4822.6830.3836.7842.6

848.5856.5865.8870.8875.6879.0

879.0880.9883.9894.4898.4909.0

918.7927.1936.6943.3948.3952.6

303.8

319.3342.1369.2400.3434.4471.8495.5544.0589.9607.4

656.3745.1844.5919.0981.0

1,092.41,235.61,374.31,503.31,623.5

1,385.51,392.91,400.31,411.91,422.01,433.1

1,444.41,458.01,474.01,485.41,495.01,503.3

1,507.71,513.91,521.91,535.41,541.61,556.9

1,571.61,584.61,599.01,608.61,616.01,623.5

27.727.427.828.228.328.628.9

29.029.630.632.534.336.338.340.443.446.0

49.052.556.961.667.873.880.888.697.7

106.3

89.490.290.791.392.092.5

93.293.995.295.996.797.7

98.499.099.5

100.2100.7101.5

102.4103.6104.9105.4105.8106.3

101.1104.9107.4108.7107.6112.6114.5

115.2119.1120.3124.1129.5135.1137.5147.0159.0162.9

170.7181.5198.4209.0215.3221.7233.0250.1263.8275.8

252.5252.3252.5256.6258.8260.0

261.2262.8265.5265.3264.0263.8

261.8260.4260.5265.3265.0268.7

271.1272.1274.4274.6274.6275.8

44.548.350.051.957.465.467.4

72.982.797.6

112.0126.2146.4157.9183.3204.3194.4

229.2271.1313.5363.7418.1450.3489.2544.4614.1664.8

550.0555.9560.8565.9572.2576.8

582.1587.4593.5598.2610.2614.1

619.3623.6622.9623.9623.2623.6

629.8637.3645.4654.4662.8664.8

2.85.79.6

12.816.415.520.623.510.9

25.333.343.563.089.081.062.473.796.694.3

75.978.981.583.486.286.7

88.087.688.588.695.496.6

100.5102.199.095.090.684.9

84.785.988.191.195.094.3

67.4

72.979.992.0

102.3113.4130.0142.4

69.485.690.7

106.5126.2146.5173.6193.2208.6224.7251.0295.9363.2

253.7256.4258.5260.8263.2266.6

271.2275.8279.1284.2291.5295.9

300.1305.0308.5313.6318.6323.2

327.8332.9338.8347.9358.8363.2

93.395.292.8

97.4111.6123.5127.1135.9160.7202.1219.7221.6207.3

220.4220.6220.9221.7222.8223.5

222.9224.0225.8225.4223.4221.6

218.8216.5215.3215.3214.1215.6

217.4218.5218.5215.4209.1207.3

92.9

102.3113.4126.4141.4157.3170.4177.3194.0206.7214.9

232.6273.3319.1347.7368.7427.7495.0564.9624.4670.9

569.5573.5577.7581.5585.3590.5

595.9601.5608.5614.6619.5624.4

628.7633.0638.0641.0643.2647.9

652.9657.5662.4665.3667.7670.9

2.22.32.32.52.62.6

2.72.72.82.92.93.0

2.92.93.03.23.33.3

3.43.43.53.43.43.4

3.85.03.43.43.53.94.9

4.74.95.65.15.54.63.45.05.05.6

7.36.97.46.34.94.14.45.1

10.39.5

4.34.34.85.04.06.2

4.43.56.24.38.1

10.3

12.08.46.55.38.4

10.8

13.29.8

12.511.75.59.5

1 M l is currency plus demand deposits; M 1 + is M l plus savings deposits at commercial banks and checkable deposits at nonbankthrift institutions; M2 is Ml plus time and savings deposits at commercial banks other than large certificates of deposit (CDs); and M3is M2 plus deposits at nonbank thrift institutions.

2 Negotiable time certificates of deposit (CDs) issued in denominations of $100,000 or more by large weekly reporting commercialbanks.3 Includes negotiable order of withdrawal (NOW) accounts at commercial banks.

4 Average of the beginning and end-of-month deposits of mutual savings banks, savings capital at savings and loan associations, andcredit union shares.

5 Includes negotiable order of withdrawal (NOW) accounts at thrift institutions, credit union share draft accounts, and demanddeposits at mutual savings banks.

6 Deposits at all commercial banks. Includes Treasury note balances beginning November 1978.Source-. Board of Governors of the Federal Reserve System.


TABLE B-59.-—Commercial bank loans and investments, 1939-79


Period

End of month*1939- Dec

1940: Dec1941- Dec1942: Dec1943: Dec1944- Dec1945- Dec1946- Dec1947: Dec1948: Dec

1948- Dec1949: Dec

1950: Dec1951- Dec1952: Dec1953: Dec1954- Dec1955: Dec1956- Dec1957: Dec1958- Dec1959: Dec

I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec1965: Dec1966: Dec1967: Dec1968: Dec1969: Dec1970: Dec1971: Dec1972: DecAverage for month2

1972 Dec1973 Dec1974 Dec1975 Dec1976 Dec1977 Dec1978 Dec1979 Dec"1979

JanFebMar

May '.JuneJulyAugSeptOctNovDec"

Total loansand

investments

40.7

43.950 767.485.1

105.5124.0114 0116.3114.2

Loans

Total

17.2

18.821719.219.121626.131138.142.4

Commer-cial andindus-trial

Investments

U.S.Treasurysecurities

16.3

17.821.841.459.877.690.674.869.262.6

Othersecurities

7.1

7.4726.86.1637.38.19.09.2

Seasonally adjusted

113 0118.7

124.7130.2139.1143.1153.1157.6161.6166.4181.2188.7

197.4212.8231.2250.2272.3300.1316.1352.0390.2401.7435.5485.7558.0

566.1647.8713.6744.6804.3891.1

1,014.31,131.5

1,030.91,042.01,048.91,061.01,068.81,080.01,092.21,102.81,122.81,128.91,128.41,131.5

41542.0

51.156.562.866.269.180.688.191.595.6

110.5

116.7123.6137.3153.7172.9198.2213.9231.3258.2279.4292.0320.9378.9

386.2460.3519.9516.9554.8632.1747.8846.2

759.9770.0775.7786.6793.3803.1813.4823.3840.0844.8843.6846.2

39.4

42.143.947.652.158.469.578.686.295.9

105.7110.0116.2130.4

136.3165.6197.3189.8191.2211.2246.5288.9

252.6256.9259.8263.3266.8270.4275.5279.9285.9288.6288.3288.9

62 366.4

61.160.462.262.267.660.357.256.965.157.7

59.965.364.761.560.757.153.559.460.751.257.860.662.6

64.158.753.782.1

100.699.593.493.7

93.093.293.994.094.194.895.394.195.295.394.393.7

9210.3

12.413.414.214.716.416.816.317.920.520.5

20.823.929.235.038.744.848.761.371.371.185.7

104.2116.5

115.8128.8140.0145.7149.0159.6173.1191.6

178.0178.8179.3180.4181.4182.1183.5185.4187.6188.8190.5191.6

Loans plusloans soldto bankaffiliates

110.5

116.7123.6137.3153.7172.9198.2213.9231.3258.2283.3294.7323.7381.5

388.8464.6524.7521.3558.5636.9751.6

3 849.0

763.5773.5779.2790.3797.0806.9817.2827.0843.7848.4847.2

3 849.0

1 Data are for last Wednesday of month (except June 30 and December 31 call dates).2 Data are averages of Wednesday figures and are for domestically chartered banks and foreign-related institutions. Lease financing

receivables are included in the total loans and investments, total loans, and loans plus loans sold to bank affiliates.3 As of December 1979, loans sold to affiliates were reduced $0.8 billion as a result of data corrections. In addition, comparability of

the data may also be affected by bank mergers, liquidations, loan reclassifications, etc.Note.—Data adjusted to exclude all interbank loans beginning 1948 and domestic interbank loans only beginning January 1959.

Beginning January 1959, loans and investments are reported gross, without valuation reserves deducted, rather than net of valuationreserves, as in earlier periods. Effective June 1966, balances accumulated for payment of personal loans (then about $1.1 billion) areexcluded from loans at all commercial banks, and certain certificates of CCC and Export-Import Bank (then about $1 billion) areincluded in other securities rather than in loans. Beginning June 1969, data include all bank-premises subsidiaries and other significantmajority-owned domestic subsidiaries; earlier data include commercial banks only. Beginning June 1971, Farmers Home Administrationinsured notes (then about $0.7 billion) are classified as other securities rather than as loans.


272


TABLE B-60.—Liquid asset holdings of private domestic nonfinancial investors, 1952-79

[Average outstanding; billions of dollars, seasonally adjusted]

Year and month

1952: Dec1953: Dec .1954: Dec

1955: Dec1956: Dec1957: Dec1958: Dec1959: Dec

I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec



1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec*

1978:Jan.Feb.Mar.Apr.MayJune

July.Aug.SeptOct.Nov.Dec.

1979:Jan.Feb.Mar.Apr.MayJune

July.Aug.SeptOct.Nov.Dec".

Totalliquidassets

269.1284.6295.3

314.8325.4338.0354.4373.3

386.84107442.1479.3515.5

559.6587.3638.3696.8722.7

769.8854.9966.8

1,086.11,174.2

1,295.61,428.41,598.71,775.31,957.7

1,614.81,626.51,636.71,653.61,668,61,681.2

1,694.51,707.21,726.21,737.21,757.11,775.3

1,791.01,804.11,815.91,832.21,845.31,865.9

1,881.91,895.51,915.01,933.11,947.91,957.7

Currency and deposits

Total

200.7210.9223.9

235.4246 2257.2277.5290.7

305.7326.3352.2382.2414.6

451.1474.3521.0565.6582.8

632.4721.1815.9886.5942.4

1,053.21,191.81,327.11,451.41,565.3

1,337.51,344.61,351.81,363.31,373.21,384.3

1,395.11,408.21,423.81,434,21,443.21,451.4

1,455.51,461.41,469.01,481.71,487.71,502.3

1,516.61,529.31,542.61,553.21,559.61,565.3

Currency1

27.327.727.4

27.828 228.328.628.9

29.029.630.632.534.3

36.338.340.443.446.1

49.052.556.961.667.8

73.880.888.697.7

106.3

89.490.290.791.392.092.5

93.293.995.295.996.797.7

98.499.099.5

100.2100.7101.5

102.4103.6104.9105.4105.8106.3

Demanddepositsl

91.592.896.2

98.499 597.9

102.3104.2

104.5106.3106.5109.7114.3

119.4121.9130.5141.2145.2

152.1162.1176.3183.9187.5

193.6201.2214.6224.9229.8

216.2216.0216.1219.9221.9223.1

224.0225.6227.9226.8225.1224.9

222.5221.0221.0225.0224.2227.2

229.2229.9231.3232.1230.6229.8

Time deposits

Com-mercialbanksl

39.141.945.1

46.849 054.661.864.7

69.977.088.898.6

108.8

125.0136.8156.1174.2176.7

198.7233.2263.6293.2318.4

358.2414.8459.0504.4558.3

462.4464.9467.3470.6474.0478.2

482.0487.2492.2496.9501.9504.4

505.8508.4510.5515.5519.5525.7

532.1538.3544.0550.4555.5558.3

Non-bankthrift

institu-tions2

42.848.655.2

62.369 576.484.892.9

102.3113.4126.4141.4157.3

170.4177.3194.0206.7214.9

232.6273.3319.1347.73687

427.7495.0564.9624.4670.9

569.5573.5577.7581.5585.3590.5

595.9601.5608.5614.6619.5624.4

628.7633.0638.0641.0643.2647.9

652.9657.5662.4665.3667.7670.9

U.S. Treasurysecurities

Savingsbonds3

49.249.349.9

50.250148.347.846.1

45746.546.948.149.0

49.650.251.251.851.7

52.054.357.560.463.3

67.271.976.680.679.9

77.077.477.878.278.678.9

79.279.579.880.180.380.6

80.780.680.680.680.680.6

80.680.680.680.580.279.9

Short-term

market-able

securi-ties4

18.423.120.1

27.727 430.627.635.5

32.432.033.435.033.0

35.837.834.840.953.2

41.931.534.343.347.8

67.366778.285.9

112.4

80.180.979.680.180.880.8

81.031.683.882.082.185.9

89.391.595.7

100.3108.4116.2

114.2110.3111.3111.71117112.4

"»?•certifi-cates

ofdepos-

it5

27"5.39.0

11.6

15.114.418721.78.3

21.827.535.953.269.4

57.042.750.762.147.0

51.652.854.456.759.359.1

59.457.557.356.161762.1

65.165.561.456.451745.7

44.343.644.345.948.847.0

Otherprivatemoneymarketinstru-ments 6

0.81.21.3

1.5171.91.61.1

2.93.34.25.17.2

7.810.612716.8267

21.720.623.042.851.3

50.955.366.195.2

153.1

68.470772.974.976.778.4

79.680.381.784.789795.2

100.4105.1109.1113.1117.0121.0

126.2131.7136.4141.8147.6153.1

1 Money stock components (see Table B-58) after deducting foreign holdings and holdings by domestic financial institutions. Thethree columns add to M2 held by domestic nonfinancial sectors.

2 As published in money stock statistics.3 Series E and H savings bonds, other savings bonds, and savings notes held by individuals.4 Short-term marketable U.S. Treasury securities excluding official, foreign, and financial institution holdings.5 Certificates over $100,000 at weekly reporting banks, except foreign holdings.6 Commercial paper, bankers' acceptances, Federal funds, security repurchase agreements, and money market mutual fund shares

held outside banks and other financial institutions.Source-. Board of Governors of the Federal Reserve System.


TABLE B-61.—Total funds raised in credit markets by nonfinancial sectors, 1971-79


Item 1971

153.9

24.9

5.1

124.0

11.4112.5

86.7

17.418.850.5

28.09.9

10.22.4

25.8

14.77.1

_ 4AA

124.0

17.744.961.4

4.511.745.2

33.811.4

153.9

88.6

93.7

13.779.1

.8

*

- 5 . 1

22.8

- 4 . 527.3

11.63.1

24.53.3

1972

176.8

15.1

4.0

157.7

10.9146.8

102.1

14.712.275.2

42.512.716.43.6

44.7

19.817.1

.86.9

157.7

14.565.178.1

5.814.158.2

47.210.9

176.8

122.7

106.7

21.583.6

1.6

21.6

- 5 . 6

14.6

3.810.8

2.6- . 426.311.0

1973

203.1

8.3

6.1

188.8

7.9180.9

105.1

14.79.2

81.2

46.410.418.95.5

75.8

26.037.1

2.510.3

188.8

13.280.195.5

9.612.973.0

65.27.9

203.1

140.3

101.2

14.575.7

11.0

45.7

-6 .7

6.4

3.03.4

11.2- 1 . 530.716.1

1974

191.6

11.8

15.4

164.4

4.1160.3

98.0

16.519.761.9

34.86.9

15.15.0

62.3

9.932.06.6

13.7

164.4

15.551.397.6

8.07.4

82.1

78.04.1

191.6

118.9

73.8

8.265.4

.2

47.3

- 2 . 2

22.1

10.311.7

19.5- 4 . 633.4

2.4

1975

210.8

85.4

13.3

112.1

9.9102.1

98.4

16.127.255.0

39.5

11.04.6

3.8

9.7-12.3-2 .6

9.0

112.1

13.749.748.6

8.82.0

37.9

28.09.9

210.8

140.4

98.1

12.684.0

1.6

45.8

- 3 . 5

2.1

-8 .710.8

24.92.8

39.7.9

1976

271.9

69.0

20.8

182.0

10.5171.5

123.5

15.722.885.0

63.71.8

13.46.1

48.0

25.64.04.0

14.4

182.0

15.290.576.3

10.94.7

60.7

50.210.5

271.9

168.5

131.9

16.1113.5

2.3

39.8

- 3 . 2

13.4

- 4 . 617.9

20.53.0

47.918.6

1977

338.5

56.8

13.9

267.9

2.7265.1

175.6

23.721.0

131.0

96.47.4

18.48.8

89.5

40.627.0

2.919.0

267.9

20.4139.9107.6

14.712.979.9

77.22.7

338.5

189.7

149.5

26.1121.0

2.4

46.4

- 6 . 1

43.2

1.242.0

19.5.9

58.726.5

1978

Total funds raised by nonfinancial sectors

U.S. Government

Foreign

Private domestic nonfinancial sectors

Corporate equitiesDebt instruments

Debt capital instruments

State and local government obligations...Corporate bondsMortgages

HomeMulti-family residential..CommercialFarm

Other debt instruments..

Consumer creditBank loans n.e.cOpen-market paperOther

By borrowing sector: Total...

State and local governments....Households....Nonfinancial business

FarmNonfarm noncorporateCorporate

Debt instrumentsEquities

Total funds suppled to nonfinancial sectors

Financed directly or indirectly by.-

Private domestic nonfinancial sectors..

Deposits

Demand deposits and currencyTime and savings depositsMoney market funds and repurchase agree-

ments

Credit market instruments

Corporate equities

Foreign funds

At banksCredit and equity instruments

U.S. Government—related loans, net.U.S. Government cash balancesPrivate insurance and pension reserves.Other sources

400.3

53.7

32.3

314.4

2.6311.8

196.6

28.320.1

148.2

104.510.223.310.2

115.2

50.637.3

5.222.2

314.4

23.6162.6128.2

18.115.494.7

92.22.6

400.3

217.0

151.8

22.2115.2

14.4

71.4

- 6 . 2

46.5

6.340.1

30.53.7

70.632.0



TABLE B-61.—Total funds raised in credit markets by nonfinancial sectors, 1971-79—Continued


Item

1979 unadjusted quarterlyflows

I II

1979 seasonally adjustedannual rates

I

Total funds raised by nonfinancial sectors

U.S. Government

Foreign


Corporate equities

Debt instruments

Debt capital instruments

State and local government obligationsCorporate bondsMortgages

Home mortgagesMulti-family residentialCommercialFarm

Other debt instruments

Consumer creditBank loans n.e.cOpen-market paperOther

By borrowing sector: Total

State and local governmentsHouseholdsNonfinancial business

FarmNonfarm noncorporateCorporate

Debt instruments

Equities

Total funds supplied to nonfinancial sectors

Financed directly or indirectly by:


Deposits

Demand deposits and currencyTime and savings deposits

Money market funds and repurchase agreements

Credit market instruments

Corporate equities

Foreign funds

At banksCredit and equity instruments

U.S. Government-related loans, netU.S. Government cash balancesPrivate insurance and pension reservesOther sources


75.3

10.7

-1 .6

66.2

.765.5

40.V

2.35.0

33.4

22.52.04.84.1

24.8

4.59.82.97.5

66.2

1.531.233.5

5.71.5

26.4

25.7.7

75.3

34.2

13.7

-25.228.410.4

21.3

12.7

-17.3- 4 . 6

3.4- 8 . 217.815.5

101.7

- 4 . 6

6.6

99.7

.799.1

57.9

6.46.3

45.2

31.42.07.04.9

41.1

15.014.92.78.5

99.7

5.846.347.7

7.64.6

35.5

34.8.7

101.7

57.0

33.5

12.710.99.9

27.5

- 4 . 0

- 5 . 7

5.7-11.4

11.19.7

19.110.5

112.9

12.4

14.9

85.6

.784.9

54.1

7.73.6

42.8

28.43.27.43.8

30.8

13.114.53.7

85.6

6.942.736.1

4.74.5

26.8

26.1.7

112.9

49.9

39.4

.728.010.8

11.7

- 1 . 3

19.4

10.88.7

12.76.1

18.95.9

371.6

25.2

4.4

342.0

2.9339.1

202.0

22.321.5

158.3

109.79.2

23.216.2

137.1

50.745.812.927.7

342.0

18.9165.3157.8

24.015.2

118.6

115.82.9

371.6

196.0

112.2

-13.984.441.7

93.3

- 9 . 5

49.5

79.9-30.4

31.4-14.1

68.140.8

401.4

29.05

26.3

346.1

2.8343.4

207.6

12.725.8

169.1

115.77.2

28.317.9

135.8

44.751.98.6

30.5

346.1

10.3171.7164.2

22.314.9

126.9

124.12.8

401.4

226.4

131.4

21.670.139.7

108.1

-13.1

.1

24.4- 2 4 . 4

26.18.2

79.361.4

433.9

34.0

60.2

339.7

2.9336.9

194.0

23.512.4

158.1

101.612.528.815.1

142.9

42.467.623.19.8

339.7

20.1159.9159.7

18.418.9

122.4

119.62.9

433.9

226.9

186.2

29.0114.243.0

44.4

- 3 . 7

59.1

20.438.7

43.311.973.819.0


TABLE B-62.—Federal Reserve Bank credit and member bank reserves, 1929-79

[Averages of daily figures; millions of dollars]

Year and month

1929- Dec1933: Dec1939: Dec

1940: Dec1941: Dec1942: Dec1943: Dec1944: Dec1945: Dec1946: Dec1947: Dec1948: Dec1949: Dec



1970: Dec1971: Dec1972: Dec1973: Dec1974: Dec1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec"


JulyAugsept"::":: ..:::.::: :OctNovDecp

Reserve Bank credit outstanding

Total

16432,6692,612

2,3052,4046,03511,91419,61224,74424,74622,85823,97819,012

21,60625,44627,29927,10726,31726,85327,15626,18628,41229,435

29,06031,21733,21836,61039,87343,85346,86451,26856,61064,100

66,70874,25576 85185,64293,96799,651107,632116,382129,330140,008

128,749125 953126 356127,462128 597129,035

131,585131 441133,505134 049136'696140,008

U.S.Governmentand Federalagencysecurities

4462,4322,510

2,1882,2195,54911,16618,69323,70823,76721,90523,00218,287

20,34523,40924,40025,63924,91724,60224,76523,98226,31227,036

27,24829,09830,54633,72937,12640,88543,76048,89152,52957,500

61,68869,15871,09479,70186,67992,108100,328107,948117,344126,276

113,192110 863112 992113,133113 575114,653

118,298120 158121J491122 189123'603126,276

Member bankborrowings

Total

801953

35490265334157224134118

142657

1,593441246839688710557906

87149304327243454557238765

1,086

321107

1,0491,29870312762558874

1,454

994973999897

1 7771,396

1,1791097l'3442 0221*9081,454

Seasonal

413213125413481

112114121134173188

16817716916114181

Othar1umer *

39614299

114180482658654702822729842607

1,1191,3801,3061,0271,1541,4121,7031,4941,5431,493

1,7251,9702,3682,5542,5042,5142,5472,1393,3165,514

4,6994,9904 7084,6436,5857,4167,2427,87611,11212,278

14,56314,11712 36513,43213 24512',986

12,10810,18610,6709,8381118512,278

Member bank reserves2

Tntal10131

2 3952,58811,473

14,04912,81213,15212,74914,16816,02716,51717,26119,99016,291

17,39120,31021,18019,92019,27919,24019,53519,42018,89918,932

19,28320,11820,04020,74621,60922,71923,83025,26027,22128,031

29,26531,3293135335,06836,94134,98935,13636,47141,57244,063

43,16740,70340 31640,54640,3824O'lO5

40,90040,68740,86842,4234297944,063

PomiiroHRequired

2,34731,8226,462

7,4039,42210,77611,70112,88414,53615,61716,27519,19315,488

16,36419,48420,45719,22718,57618,64618,88318,84318,38318,450

18,51419,55019,46820,21021,19822,26723,43824,91526,76627,774

28,99331,1643113434,80636,60234,72734,96436,29741,44743,560

42,86540,49440 05940'54840 09539^884

40,71040,49440,86342,0024277043,560

Cvroccexcess

483 7665,011

6,6463,3902,3761,0481,2841,491900986797803

1,027826723693703594652577516482

769568572536411452392345455257

272165219262339262172174125503

302209257_2287221

19019395421209503

1 Mainly float.2 Beginning December 1959, part of currency and cash held by member banks allowed as reserves; beginning November 1960 all

such currency and cash allowed.Beginning November 1972, includes reserve deficiencies on which Federal Reserve Banks were allowed to waive penalties for a

transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. Transition period endedafter second quarter 1974.

Effective November 1975, includes reserve deficiencies on which penalties are waived over a 24-month period when a nonmemberbank merges into an existing member bank, or when a nonmember bank joins the Federal Reserve System.3 Data are for licensed banks only.



TABLE B-63.—Aggregate reserves and deposits of member banks, 1959-79

[Averages of daily figures; billions of dollars, seasonally adjusted]

Year and month

1959: Dec

I960: Dec1961: Dec1962: Dec1963: Dec1964: Dec



1975: Dec1976: Dec1977: Dec1978: Dec1979: Dec"

1978:Jan....FebMar...

t: .June..

July...Aug...Sept..Oct....Nov...Dec...

1979:Jan....Feb....Mar...Apr....May...June..

July...Aug...Sept..Oct....NovDec"

Member bank reserves *

Total

18.63

18.9219.7519.6620.3121.19

22.1823.2824.7627.0627.99

29.1131.1631.3434.9036.55

34.6734.8936.1041.2743.

36.6736.8836.6736.9337.2737.63

38.1137.9338.2138.3839.7541.27

41.4840.7540.8140.6540.4840.42

40.8241.0741.4642.3043.1343.53

Non-borrowed

17.68

18.8419.6119.4019.9820.92

21.7422.7524.5426.3126.87

28.7831.0330.2933.6035.83

34.5434.8335.5340.4042.06

36.1836.4836.3436.3836.0636.53

36.8036.7937.1537.1039.0540.40

40.4839.7839.8239.7338.7239.00

39.6539.9840.1240.2841.2242.06

Re-quired

18.12

18.1719.1619.0819.8220.78

21.7622.9424.3926.6327.70

28.8630.9831.0534.6036.30

34.4034.6135.9141.0443.13

36.4036.6436.4736.7937.0537.45

37.9237.7738.0238.2239.5341.04

41.2640.5440.6640.4740.3440.20

40.6140.8541.2742.0442.8843.13

Mone-tary

base2

48.3

48.750.251.153.756.5

59.662.866.471.875.4

79.685.390.198.6

106.7

111.0118.4127.8142.4153.8

129.3130.3130.6131.4132.6133.5

134.7135.3136.8137.8139.9142.4

143.4143.3143.9144.5144.9145.6

146.9148.4150.1151.6152 8153.8

Member bank deposits subject toreserve requirements3

Total

158.2

162.5175.5189.0203.2218.7

238.3246.3275.7299.8287.8

321.1360.2402.0442.2486.0

504.2528.6568.6616.7645.7

575.4577.3581.3585.8591.5595.8

600.5602.7607.0608.9616.9616.7

621.1619.7616.4618.6613.9613.1

618.7623.7630.5638.2644 2645.7

Timeand

savings

54.3

58.867.779.992.1

103.7

120.7128.7148.9164.5150.5

178.8210.5241.6279.2322.1

336.8354.1386.7429.4452.0

390.1394.6398.3400.7405.1407.4

410.8413.0416.8418.3427.5429.4

433.5436.1434.1432.0428.7425.9

429.4434.4439.8445.64518452.0

Demand

Private

99.0

99.1102.9103.3105.9109.1

112.8113.9121.3130.5132.1

136.1144.0154.4158.1160.6

164.5171.5178.5185.1192.0

182.1179.7179.7181.8183.6184.6

186.1186.5186.2187.2187.0185.1

185.6181.9180.5184.7183.5184.8

187.5187.1189.0190.8190 4192.0

U.S.Govern-

ment

4.8

4.64.95.75.25.9

4.93.75.54.95.2

6.25.86.14.83.3

2.93.03.52.31.8

3.23.03.43.32.73.8

3.63.34.03.52.32.3

1.91.81.81.81.72.4

1.82.21.81.8201.8

Adjusted for changes in reserverequirements4

Member bank reserves

Total

16.30

16.5617.2517.8418.4819.34

20.3220.6422.7924.5224.46

26.1728.3531.8634.3737.10

36.8337.2439.1841.5743.20

39.7740.0039.8340.1140.4740.87

41.3741.2041.5041.6741.5741.57

41.7741.0341.1040.9140.7540.70

41.1341.3841.7742.4842 6643.20

Non-borrowed

15.35

16.4917.1217.5818.1519.08

19.8820.1122.5723.7823.35

25.8328.2230.8133.0736.38

36.7037.1938.6140.7041.73

39.2839.6039.5039.5539.2639.77

40.0540.0640.4440.4040.8740.70

40.7640.0640.1139.9938.9839.28

39.9640.2940.4340.4640 7541.73

Re-quired

15.79

15.8216.6617.2717.9918.94

19.9020.3022.4224.1024.18

25.9228.1731.5834.0736.85

36.5736.9738.9941.3442.81

39.5039.7639.6339.9640.2640.69

41.1741.0341.3141.5141.3541.34

41.5540.8240.9440.7340.6140.48

40.9241.1541.5842.2242.4242.81

Mone-tarybase

46.01

46.3447.6549.3151.9054.62

57.7560.1164.4069.2971.92

76.6982.5290.6698.02

107.25

113.16120.80130.90142.69153.48

132.40133.40133.74134.61135.79136.76

137.97138.56140.12141.05141.75142.69

143.70143.62144.18144.75145.13145.88

147.24148.73150.45151.77152 38153.48

1 Series reflects actual reserve requirement percentages with no adjustment to eliminate the effect of changes in Regulations D andM. In addition to earlier breaks in the series effective November 2, 1978, a supplementary reserve requirement of 2 percentage pointswas imposed on time deposits of $100,000, or more. This action increased required reserves approximately $3.0 billion in the weekbeginning November 16, 1978. Effective October 11, 1979, an 8 percentage point marginal reserve requirement was imposed on"managed liabilities." On October 25. 1979. reserves of Edge Act Corporations were included in member bank reserves. In the weekbeginning October 25,1979, these last two actions raised required reserves $320 million and $318 million, respectively.

2 {ncludes total reserves (member bank reserve balances in the current week DIUS vault cash held two weeks earlier); currencyoutside the U.S. Treasury, Federal Reserve Banks, and the vaults of commercial banks; and vault cash of nonmember banks.

3 Includes total time and savings deposits and net demand deposits as defined by Regulation D. Private demand deposits include alldemand deposits except those due to the U.S. Government, less cash items in process of collection and demand balances due fromdomestic commercial banks.

4 Reserve aggregates series have been adjusted to remove discontinuities associated with marginal reserve requirements, theinclusions of Edge Act Corporation Reserves, and other changes in Regulations D, K and M.



TABLE B-64.—Bond yields and interest rates, 1929-79

[Percent per annum]

Year or month

U.S. Treasury securities

Bills(new

issues)x

3-month month

Constantmaturities2

years years

Corporatebonds

(Moody's)

Aaa Baa

High-grade

munici-pal

bonds(Stand-ard &

Poor's)

New-home

mortgageyields

(FHLBBP

Primecom-

mercialpaper,

months

Prime ratecharged by

banks4

Discountrate,

FederalReserveBank of

NewYork4

Federalfundsrate5

1929.

1933

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

0.515

023

014103326373375

375375594

10401.102

1.2181.55217661.931953

1.7532 6583.2671.8393.405

2 9282.3782 77831573 549

3.9544.8814.3215.3396.677

6.4584 3484.0717.0417.886

5.8384.9895.2657.221

10.041

3.832

3.2472.6052.9083.2533.686

4.0555.0824.6305.4706.853

6.5624.5114.4667.1787.926

6.1225.2665.5107.572

10.017

2.47163

2.473.193.982.844.46

3.983.543.473.674.03

4.225.235.035.687.02

7.295.655.726.957.82

7.496.776.698.299.71

2.852.40

2.823.183.653.324.33

4.123.883.954.004.19

4.284.925.075.656.67

7.356.166.216.847.56

7.997.617.428.419.44

4.73

4.49

3.01

2.842.772.832.732.72

2.622.532.612.822.66

2.622.862.963.202.90

3.063.363.893.794.38

4.414.354.334.264.40

4.495.135.516.187.03

8.047.397.217.448.57

8.838.438.028.739.63

5.90

7.76

4.96

4.754.334.283.913.61

3.293.053.243.473.42

3.243.413.523.743.51

3.533.884.714.735.05

5.195.085.024.864.83

4.875.676.236.947.81

9.118.568.168.249.50

10.619.758.979.49

10.69

4.27

4.71

2.76

2.502.102.362 061.86

1.671.642.012.402.21

1.982.002.192.722.37

2.532.933.603.563.95

3.733.463.183.233.22

3.273.823.984.515.81

6.515.705.275.186.09

6.896.495.565.906.39

5.895.82

5.816.256.466.977.80

8.457.747.607.958.92

9.018.999.019.54

10.77

5.85

1.73

.59

.56

.5366.69.73

.75

.811.031.441.49

1.452.162.332.521.58

2.183.313.812.463.97

3.852.973.263.553.97

4.385.555.105.907.83

7.725.114.698.159.87

6.335.355.607.99

710.91

2.00

2.072.563.003.173.05

3.163.774.203.834.48

4.824.504.504.504.50

4.545.635.616.307.96

7.915.725.258.03

10.81

7.866.846.839.06

12.67

5.16

2.56

1.00

1.001.00

61.0061.0061.00

61.0061.00

1.001.341.50

1.591.751.751.991.60

1.892.773.122.153.36

3.533.003.003.233.55

4.044.504.195.175.87

5.954.884.506.457.83

6.255.505.467.46

10.28

1.782.733.111.573.30

3221.962.683.183.50

4.075.114.225.668.22

7.174.674.448.74

10.51

5.825.055.547.94

11.20



TABLE B-64.—Bond yields and interest rates, 1929-79—Continued

[Percent per annum]

Year or month

U.S. Treasury securities

Bills(new

issues)1

3- 6-month month

Constantmaturities2

3 10years years

Corporatebonds

(Moody's)

Aaa

High-grade

munici-pal

bonds(Stand-ard &

Poor's)

New-home

mortgageyields

(FHLBB)3

Primecom-

mercialpaper,

months

Prime ratecharged by

banks4

Discountrate,

FederalReserveBank of

New York4

Federalfundsrate5

1977:JanFebMarAprfayJune






4.5974.6624.6134.5404.9425.004

5.1465.5005.7706.1886.1606.063

6.4486.4576.3196.3066.4306.707

7.0747.0367.8368.1328.7879.122

9.3519.2659.4579.4939.5799.045

9.2629.450

10.18211.47211.86812.071

4.7834.8964.8834.7905.1935.198

5.3515.8105.9916.4106.4336.377

6.6856.7406.6446.7007.0197.200

7.4717.3637.9488.4939.2049.397

9.5019.3499.4589.4989.5319.062

9.1909.450

10.12511.33911.85611.847

6.226.446.476.316.556.39

6.516.796.847.197.227.30

7.617.677.707.858.078.30

8.548.338.418.629.049.33

9.509.299.389.439.428.95

8.949.149.69

10.9511.1810.71

7.217.397.467.377.467.28

7.337.407.347.527.587.69

7.968.038.048.158.358.46

8.648.418.428.648.819.01

9.109.109.129.189.258.91

8.959.039.33

10.3010.6510.39

7.968.048.108.048.057.95

7.947.987.928.048.088.19

8.418.478.478.568.698.76

8.608.698.899.039.16

9.259.269.379.389.509.29

9.209.239.44

10.1310.7610.74

9.089.129.129.079.018.91

8.878.828.808.898.958.99

9.179.209.229.329.499.60

9.609.489.429.599.839.94

10.1310.0810.2610.3310.4710.38

10.2910.3510.5411.4011.9912.06

5.705.755.765.615.645.53

5.505.465.375.535.385.48

5.605.515.495.715.976.13

6.185.985.935.956.036.33

6.256.196.166.146.105.99

6.056.106.406.987.197.09

9.058.998.958.948.968.98

9.009.029.049.079.079.09

9.159.189.269.309.379.46

9.579.709.739.839.87

10.02

10.1810.2010.3010.3610.4710.66

10.7811.0111.0211.2111.3711.65

4.744.824.874.875.355.49

5.415.846.176.556.596.64

6.796.806.806.867.117.63

7.917.908.449.03

10.2310.43

10.3210.019.969.879.989.71

9.8210.3911.6013.23

713.2612.80

6V4-6V46V4-6V4

66 y 4 6 %6%-6%

63/4-6%6%-77 - 7y 4

7

73/4-73/4

73/4-8

8 -8y8y2-9

9 -99 -9y

9%ioy4ioy2-iiy2

llV2-ll3/4

^ l P AH3/4-ll3/4H3/4-ll3/4ll%-H3/4

n%i2y4

I2y4-i3y2

I3y2-i5I 5 i 55y45y2I5y2-i5y4

5%5%-5%5%-66 -66 -6

6 -6y2

6y2-6y2

6y2-6y2

6y2-6y2

6y2-77 -7

7 -7y4

7y4-7%7%-88 -8y2

9y2-9y2

99

9y2-9y2

9y2-9y2

9y2-9y2

9y2-9y2

9y2-9y2

9y2-9y2

9y2-io10 - ioy 2

10V2-ll11 -1212 -1212 -12

4.614.684.694.735.355.39

5.425.906.146.476.516.56

6.706.786.796.897.367.60

7.818.048.458.969.76

10.03

10.0710.0610.0910.0110.2410.29

10.4710.9411.4313.7713.1813.78

1 Rate on new issues within period.2 Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department.3 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate and

assumed, on the average, repayment at end of 10 years. Rates beginning January 1973 not strictly comparable with prior rates.4 Average effective rate for the year; opening and closing rate for the month.5 Since July 19, 1975, the daily effective rate is an average of the rates on a given day weighted by the volume of transactions at

these rates. Prior to that date, the daily effective rate was the rate considered most representative of the day's transactions, usuallythe one at which most transactions occurred.

6 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by Governmentsecurities maturing in 1 year or less.

7 Beginning November 1979, data are for 6-months paper.

Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Home Loan Bank Board (FHLBB),Moody's Investors Service, and Standard & Poor's Corporation.


TABLE B-65—Consumer credit outstanding and net change, 1950-79

[Millions of dollars]

Year and month

Amount outstanding (end of month)

Total

Installment credit1

TotalAuto-

mobileRevolv-ing 2

Mobilehome3 Other

Nonin-stallmentcredit4

Net change from preceding period

Total

Installmentcredit1

TotalAuto-mobile

Nonin-stallmentcredit4



1970: Dec1971: Dec1972: Dec1973: Dec1974: Dec1975: Dec1976: Dec1977: Dec1978: Dec



1979:JanFeb....Mar...

June-

July....Aug....Sept...OctNov....

25,64127,26832,55136,73638,19245,34849,26852,19152,70260,741

65,10467,63573,91782,80592,591103,207109,749115,430126,949137,742

143,113157,795177,639203,077213,427223,497249,383289,398340,317

288,194289,170292,691297,708303,527310,589

314,400320,978325,209328,895333,151340,317

340,432341,579344,523349,779354,807359,515

362,801368,088372,641375,178

15,50316,22020,47024,25424,89130,26933,17135,44335,33941,123

45,05146,02750,99457,82965,57273,88179,33983,14891,681

101,161

105,528118,255133,173155,108164,594172,353193,992230,829275,629

230,126230,547233,842237,855243,371249,865

253,897259,614263,387265,814269,436275,629

275,337276,019278,453282,575287,315291,856

295,052299,813303,902305,217307,641

6,0155,9587,6359,6859,747

13,47114,48415,47214,25816,632

18,08317,59919,92422,84225,81729,35530,99231,13134,34836,946

36,32540,51947,86253,77254,26657,24267,70782,911

102,468

83,07583,82685,75787,74790,35993,261

95,28997,68799,062

100,159101,565102,468

102,890103,780105,426107,186109,211110,930

111,952113,351114,765114,876115,121

2,1053,720

5,1288,5289,70011,70913,68115,01917,18939,27447,051

38,79538,14338,03438,42638,96740,001

40,55341,62942,42042,57943,52347,051

46,51645,58645,24045,78146,48947,458

47,89449,27050,42250,88352,060

2,4617,2269,52613,58014,64214,43414,57315,14116,042

15,09215,07015,14915,28715,39615,532

15,66315,79915,91015,92516,01716,042

16,00416,00816,09216,19816,45316,607

16,71916,97217,10517,24417,349

9,48810,26212,83514,56915,14416,79818,68719,97121,08124,491

26,96828,42831,07034,98739,75544,52648,34752,01755,22860,495

61,61461,98266,08576,04782,00585,65894,52393,503110,068

93,16493,50894,90296,39598,649101,071

102,392104,499105,995107,151108,331110,068

109,927110,645111,695113,410115,162116,861

118,487120,220121,610122,214123,111

10,13811,04812,08112,48213,30115,07916,09716,74817,36319,618

20,05321,60822,92324,97627,01929,32630,41032,28235,26836,581

37,58539,54044,46647,96948,83351,14455,39158,56964,688

58,06858,62358,84959,85360,15660,724

60,50361,36461,82263,08163,71564,688

65,09565,56066,07067,20467,49267,659

67,74968,27568,73969,961

4,7891,6275,2834,1851,4567,1563,9202,923511

8,039

4,3632,5316,2828,8889,78610,6166,5425,68111,51910,793

5,37114,68219,84425,43810,35010,07025,88640,01550,919

3,271717

4,2503,784637

5,3782,9022,272-1045,784

3,928976

4,9676,8357,7438,3095,4583,8098,5339,480

4,36712,72714,91821,93549,4867,759

21,63936,83744,800

1,537- 5 71,6772,050

623,7241,013988

-1,2142,374

1,451-48 42,3252,9182,9753,5381,637139

3,2172,598

-6214,1947,3435,910494

2,97610,46515,20419,557

Seasonally adjusteds

2,7553,6204,2314,9224,7454,430

3,5764,3974,1274,7144,4074,499

4,3943,8634,4234,9973,7612,421

2,8872,7924,9223,586

2,4372,8634,0764,1064,2804,207

3,4663,6323,6803,3763,8324,399

3,0673,5633,6254,1053,3062,558

2,4432,4464,4462,1862,407

1,3261,3331,6341,8121,8771,642

1,7111,6041,5321,3751,7551,780

1,6811,5651,4861,3871,225

690616594

1,823487533

1,518910

1,033401819

1,7781,018

651615

2,255

4351,5551,3152,0532,0432,3071,0841,8722,9861,313

1,0041,9554,9263,503

8642,3114,2473,1786,119

318757155816465223

110765447

1,338575100

1,327300798892455

- 1 3 7

444346476

1,400

1 Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments.

2 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Prior to1968, included in "other," except gasoline companies, included in noninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in "other." Also beginning 1977, some retail credit was reclassified from commercial intoconsumer credit. Credit secured by real estate is generally excluded.

3 Not reported separately prior to July 1970.4 Noninstallment credit is credit scheduled to be repaid in a lump sum, including single-payment loans, charge accounts, and service

credit. Because of inconsistencies in the data and infrequent benchmarking, series is no longer published by the Federal Reserve Board on aregular basis. Data are shown here as a general indication of trends.

5 For installment credit, computed as the difference between extensions and liquidations (both seasonally adjusted); see also TableB-66. For noninstallment credit, computed as the change from one month to another in the seasonally adjusted amount outstanding.



TABLE B-66—Consumer installment credit extended and liquidated, 1950-79


Year or month

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973 , .19741975197619771978

1978:JanFebMarX :June



JulyAugSeptOctNov

Total

Ex-tended

22,13024 58330,61632,57932,26540,26340,88643,10141,13849,134

50,82750,59857,56264,66072,44579,91883,82189,058101,426109,422

115,132138,046151,749173,035172,765180,441211.028254 071298,351

21,98322,75823,92524,68225,10425,565

25,02225,66925,53725,76625,95626,516

25,54826,45226,53327,00927,90126,139

26,84827,58328,63427,69526,464

Liqui-dated

18,86123,86726,35528,79431,62534,88237,89940,75941,29043,395

47,02249,73552,60157,82264,61671,61678,36585,19492,07599,945

110,352127,789136,787152,817163,276172,676189,381218 793253,541

19,54619,89519,84920,57620,82421,358

21,55622,03721,85722,39022,12422,117

22,48122,88922,90822,90424,59523,581

24,40525,13724,18825,50924,057

Automobile

Ex-tended

8,4458,95111,61012,74011,74116,73215,57216,55414,28718,008

18,11216,47720,16422,61724,79227,91327,84427,62332,22833,686

30,85736,70643,70249,60646,51452,42063,74375 64188,987

6,5416,7307,0437,4347,5927,595

7,6527,7447,5427,5017,7887,833

7,5497,7567,7947,9998,2607,178

7,4477,6678,4307,6767,066

Liqui-dated

6,9069,0089,93210,68911,67913,00814,55915,56715,50115,638

16,66116,96017,84019,69921,81524,38626,20627,48229,01331.090

31,41432,51238,08143,69646,01949,44453,27860,43769,430

5,2155,3975,4095,6225,7155,953

5,9416,1406,0106,1266,0336,053

5,8686,1916,3086,6127,0356,488

6,8317,0736,6077,1896,533

Revolving1

Ex-tended

3,4816,182

8,68921,86224,65928,70233,21336,95643,93486,756104,587

7,9608,1478,3988,5238,5639,062

8,7009,0289,0068,8469,1769,424

9,4179,3579,7149,72210,03910,136

9,85610,37110,69910,42410,613

Liqui-dated

2,7264,567

7,27820,81823,48526,69931,24335,61641,76480,50896,811

7,5457,6987,5667,8407,9198,107

8,1008,2918,3848,5008,5118,555

8,9849,0408,9728,8049,2909,340

9,4279,5849,6429,7609,814

Mobile home 2

Ex-tended

6122,5215,1217,0615,7884,3284,85954256,067

447405493529527510

509531494604486502

369454518510668547

519655531582515

Liqui-dated

4781,7542,9754,1844,7204,5364,7194 8605,170

398389398417426440

426452422579411431

329398410428434445

447473442432412

Other

Ex-tended

13,68515,63219,00619,83920,52423,53125,31426,54726,02631,126

32,71534,12137,39842,04347,65352,00555,97761,43565,71769,554

74,98076,95778,26787,66687,25086,73798,49286 24998,710

7,0357,4767,9918,1968,4228,398

8,1618,3668,4958,8158,5068,757

8,2138,8858,5078,7788,9348,278

9,0268,8908,9749,0138,270

Liqui-dated

11,95514,85916,42318,10519,94621,87423,34025,19225,78927,757

30,36132,77534,76138,12342,80147,23052,15957,71260,33664,288

71,18872,70572,24678,23881,29483,08089,62072 98882,130

6,3886,4116,4766,6976,7646,858

7,0897,1547,0417,1857,1697,078

7,3007,2607,2187,0607,8367,308

7,7008,0077,4978,1287,298

1 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Prior to1968, included in "other," except gasoline companies, included in noninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in other." Also beginning 1977, some retail credit was reclassified from commercial intoconsumer credit. Credit secured by real estate is generally excluded.

2 Not reported separately prior to July 1970.Note.—Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,

usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments.

Liquidated credit includes repayments, chargeoffs, and other credit.See also Table B-65.Source: Board of Governors of the Federal Reserve System.


TABLE B-67.— Morti outstanding by type of property and of financing, 1939-79


End of yearor quarter

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

19771IIIIIIV

1978.1IIIIIIV

1979

IIIII

Allproper-

ties

35.5

36 537.636 735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.5171.8190.8

207.5228.0251.4278.5305.9

333.3356.5381.2410.9441.4

474.2526.5603.4682.3742.5

801.5889.2

1,023.51,172.7

911.7949.0986.5

1,023.5

1,051.71,092.31,133.51,172.7

1,206.31,252.51,295.4

Farmproper-

ties

6.6

656.4605.44.9

4.84.95.15.35.6

6.16.77.27.78.2

9.09.8

10.411.112.1

12.813.915.216.818.9

21.223.125.127.429.2

30.332.235.841.346.3

50.957.065.876.1

59.261.964.065.8

68.170.973.876.1

80.285.189.0

Nonfarm properties

Total

28.9

30 031.230.829.929.7

30.836.943.950.957.1

66.775.684.293.6

105.4

120.9134.6146.1160.7178.7

194.7214.1236.2261.7287.0

312.1333.4356.1383.5412.2

443.8494.3567.7641.1696.2

750.7832.2957.7

1,096.6

852.5887.1922.5957.7

983.71,021.41,059.71,096.6

1,126.11,167.41,206.4

1- to 4-familyhouses

16.3

17 418.418 217.817.9

18.623.028.233.337.6

45.251.758.566.175.7

88.299.0

107.6117.7130.9

141.9154.7169.3186.4203.4

220.5232.9247.3264.8282.8

298.1328.3372.2416.2449.4

490.8556.5656.6761.9

573.2601.7630.5656.6

676.4706.3734.7761.9

784.6817.0845.3

Multi-familyprop-erties

5.6

575.9585.85.6

5.76.16.67.58.6

10.111.512.312.913.5

14.314.915.316.818.7

20.323.025.829.033.6

37.240.343.947.352.3

60.170.182.893.1

100.0

100.6104.5111.8122.0

105.3107.6109.7111.8

113.7116.4119.4122.0

124.0125.9129.1

Com-mercialproper-ties1

7.0

697.0676.36.2

6.47.79.1

10.210.8

11.512.513.414.516.3

18.320.723.226.129.2

32.436.441.146.250.0

54.560.164.871.477.1

85.695.9

112.7131.7146.9

159.3171.2189.3212.7

174.0177.8182.3189.3

193.6198.7205.6212.7

217.5224.5232.1

Nonfarm properties by type of mortgage

Government underwritten

Total2

1.8

233.0374.14.2

4.36.39.8

13.617.1

22.126.629.332.136.2

42.947.851.655.159.3

62.365.669.473.477.2

81.284.188.293.4

100.2

109.2120.7131.1135.0140.2

147.0154.1161.7176.4

155.7158.7161.6161.7

165.3167.4174.7176.4

183.0187.1194.4

1- to 4-family houses

Total

1.8

233.0374.14.2

4.36.19.3

12.515.0

18.922.925.428.132.1

38.943.947.250.153.8

56.459.162.265.969.2

73.176.179.984.490.2

97.3105.2113.0116.2121.3

127.7133.5141.6153.4

134.9137.4139.9141.6

144.7146.7150.7153.4

158.4162.2168.3

FHAinsured

1.8

233.0374.14.2

4.13.73.85.36.9

8.69.7

10.812.012.8

14.315.516.519.723.8

26.729.532.335.038.3

42.044.847.450.654.5

59.965.768.266.265.1

66.166.568.071.4

66.967.867.968.0

68.669.269.971.4

73.976.479.1

VAguar-

anteed

0.22.45.57.28.1

10.313.214.616.119.3

24.628.430.730.430.0

29.729.629.930.930.9

31.131.332.533.835.7

37.339.544.750.056.2

61.667.073.682.0

68.069.671.973.6

76.177.680.882.0

84.585.889.2

Conventional3

Total

27.1

27 728.227125.825.5

26.530.634.137.340.0

44.649.054.961.569.2

78.086.894.6

105.5119.4

132.3148.5166.9188.2209.8

231.0249.3267.9290.1312.0

334.6373.5436.5506.0556.0

603.7678.0795.9920.2

696.8728.5761.0795.9

818.4853.9885.1920.2

943.1980.4

1,012.0

1- to 4-familyhouses

14.5

15115.414 513.713.7

14.316.918.920.822.6

26.328.833.138.043.6

49.355.160.467.677.0

85.595.6

107.1120.5134.1

147.4156.9167.4180.4192.7

200.8223.1259.2300.0328.1

363.0422.9515.0608.5

438.2464.4490.6515.0

531.7559.6584.0608.5

626.2654.8677.0

1 Includes negligible amount of farm loans held by savings and loan associations.2 Includes FHA insured multifamily properties, not shown separately.3 Derived figures. Total includes multifamily and commercial properties, not shown separately.Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.


TABLE B-68.—Mortgage debt outstanding by holder, 1939-79


End of year or quarter

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

19771IIIIIIV

1978-1IIIIIIV

1979:IIIIll

Total

35.5

36.537.636.735.334.7

35.541.848.956.262.7

72.882.391.4

101.3113.7

129.9144.5156.5171.8190.8

207.5228.0251.4278.5305.9

333.3356.5381.2410.9441.4

474.2526.5603.4682.3742.5

801.5889.2

1,023.51,172.7

911.7949.0986.5

1,023.5

1,051.71.092.31,133.51,172.7

1206 31252 51,295.4

Major financial institutions

Total

18.6

19.520.720.720.220.2

21.026.031.837.842.9

51.759.566.975.185.7

99.3111.2119.7131.5145.5

157.6172.6192.5217.1241.0

264.6280.8298.8319.9339.1

355.9394.2450.0505.4542.6

581.2647.5745.0848.1

662.8690.5718.1745.0

764.6793.8822.0848.1

866 0894 5920.0

Savingsandloan

associa-tions

3.8

4.14.64.64.64.8

5.47.18.9

10.311.6

13.715.618.422.026.1

31.435.740.045.653.1

60.168.878.890.9

101.3

110.3114.4121.8130.8140.2

150.3174.3206.2231.7249.3

278.6323.0381.2432.9

333.6350.6366.8381.2

392.4408.0421.0432.9

44144566468.3

Mutualsavingsbanks

4.8

4.94.84.64.44.3

4.24.44.95.86.7

8.39.9

11.412.915.0

17.519.721.223.325.0

26.929.132.336.240.6

44.647.350.553.556.1

57.962.067.673.274.9

77.281.688.195.2

82.384.186.188.1

89.891.593.495.2

96197297.9

Commer-cial

banks*

4.3

4.64.94.74.54.4

4.87.29.4

10.911.6

13.714.715.916.918.6

21.022.723.325.528.1

28.830.434.539.444.0

49.754.459.065.770.7

73.382.599.3

119.1132.1

136.2151.3179.0214.0

155.2163.0171.2179.0

184.4194.5205.4214.0

22012296239.4

Lifeinsur-ancecom-

panies

5.7

6.06.46.76.76.7

6.67.28.7

10.812.9

16.119.321.323.326.0

29.433.035.237.139.2

41.844.246.950.555.2

60.064.667.570.072.0

74.475.576.981.486.2

89.291.696.8

106.2

91.892.994.196.8

97.999.9

102.2106.2

108 41111114.4

Other holders

Federaland

relatedagen-cies2

5.0

4.94.74.33.63.0

2.42.01.81.82.3

2.83.54.14.64.8

5.36.27.78.0

10.2

11.512.212.611.812.2

13.517.520.925.131.1

38.346.454.664.882.1

101.0116.6140.3170.5

121.5127.1133.7140.3

146.0152.6161.4170.5

18121924203.7

Individ-uals

others

11.9

12.012.211.711.511.5

12.113.815.316.617.5

18.419.320.421.723.2

25.327.129.132.335.1

38.443.146.349.552.7

55.258.261.465.971.2

79.985.998.9

112.2117.8

119.3125.1138.2154.1

127.4131.4134.7138.2

141.2145.8150.1154.1

159 0165 7171.7

1 Includes loans held by nondeposit trust companies, but not by bank trust departments.2 Includes former Federal National Mortgage Association (FNMA) and new Government National Mortgage Association (GNMA), as

well as Federal Housing Administration, Veterans Administration, Public Housing Administration, Farmers Home Administration, and inearlier years Reconstruction Finance Corporation, Homeowners Loan Corporation, and Federal Farm Mortgage Corporation. Also includesGNMA Pools and U.S.-sponsored agencies such as new FNMA, Federal Land Banks, and Federal Home Loan Mortgage Corporation. OtherU.S. agencies (amounts small or current separate data not readily available) included with "individuals and others.

Source-. Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.


GOVERNMENT FINANCE

TABLE B-69.—Federal budget receipts, outlays, and debt, fiscal years 1970-81

[Millions of dollars; fiscal years]

DescriptionActual

1970 1971 1972 1973 1974 1975

BUDGET RECEIPTS AND OUTLAYS:

Total receipts

Federal fundsTrust funds

Interfund transactions

Total outlays


Interfund transactions

Total surplus or deficit ( - )

Federal funds

Trust funds

OUTSTANDING DEBT, END OF PERIOD:

Gross Federal debtHeld by Government agenciesHeld by the public

Federal Reserve System..Other

193,743

143,15859,362-8,778

196,588

156,30049,066-8,778

-2,845

-13,14210,296

382,603

97,723284,880

57,714227,166

188,392

133,78566,193

-11,586

211,425

163,65159,360

-11,586

-23,033

-29,8666,833

409,467

105,140304,328

65,518238,810

208,649

148,84672,959

-13,156

232,021

178,11067,067

-13,156

-23,373

-29,2645,892

437,329

113,559323,770

71,426252,344

232,225

161,35792,193

-21,325

247,074

186,95181,448

-21,325

-14,849

-25,59410,745

468,426

125,381343,045

75,182267,863

264,932

181,219104,846-21,133

269,620

199,91890,835

-21,133

-4,688

-18,69914,011

486,247

140,194346,053

80,648265,405

280,997

187,505118,590-25,098

326,185

240,115111,168-25,098

-45,188

-52,6097,422

544,131

147,225396,906

84,993311,913

BUDGET RECEIPTS

Individual income taxes.Corporation income taxes.Social insurance taxes and contributions.Excise taxesEstate and gift taxes.Customs dutiesMiscellaneous receipts-

Deposits of earnings by Federal Reserve System..All other

BUDGET OUTLAYS

National defense..International affairs.General science, space, and technology.EnergyNatural resources and environment.AgricultureCommerce and housing credit.TransportationCommunity and regional development.Education, training, employment, and social services.HealthIncome securityVeterans benefits and services.Administration of justice.General governmentGeneral purpose fiscal assistance.InterestAllowancesUndistributed offsetting receipts.

Composition of undistributed offsetting receipts:Employer share, employee retirement.Interest received by trust funds.Rents and royalties on the Outer Continental

Shelf

193,743

90,41232,82945,29815,7053,6442,430

3,266158

196,588

78,5534,2974,507

9903,0615,1612,1087,0062,3918,625

13,05143,073

8,677952

1,857536

18,309

188,392

86,23026,78548,57816,6143,7352,591

3,533325

211,425

75,8084,0974,1801,0313,9094,2882,3588,0502,9169,839

14,71655,4269,7761,2992,020

53519,602

208,649

94,73732,16653,91415,4775,4363,287

3,252381

232,021

76,5504,6934,1731,2704,2355,2802,2168,3883,422

12,51917,46763,91310,730

1,6502,415

67320,563

232,225

103,24636,15364,54216,2604,9173,188

3,495426

247,074

74,5414,0664,0301,1794,7634,852924

9,0654,59512,73518,83272,96512,0132,1312,5687,351

22,782

264,932

118,95238,62076,78016,8445,0353,334

4,845524

269,620

77,7815,6813,977837

5,6702,2273,9259,1724,13412,34422,07384,43713,3862,4623,2436,890

28,032

-6,567

-2,444-3,936

-187

-8,427

-2,611-4,765

-1,051

-8,137

-2,768-5,089

-279

-12,318

-2,927-5,436

-3,956

-16,651

-3,319-6,583

-6,748

280,997

122,38640,62186,44116,5514,6113,676

5,777934

326,185

85,5526,9223,9892,1697,3361,6595,60710,3883,73715,87027,648108,61016,5972,9423,1357,187

30,911

-14,075

-3,980-7,667

-2,428



TABLE B-69.—Federal budget receipts, outlays, and debt, fiscal years 1970-81—Continued

[Millions of dollars; fiscal years]

Description

Actual

1976Transi-

tionquarter

1977 1978 1979

Estimate

1980 1981

BUDGET RECEIPTS AND OUTLAYS:

Total receipts


Interfund transactions-

Total outlaysFederal fundsTrust fundsInterfund transactions.

Total surplus or deficit ( - ) . . . .

Federal funds...Trust funds

OUTSTANDING DEBT, END OF PERIOD:

Gross Federal debt

Held by Government agenciesHeld by the public

Federal Reserve SystemOther

300,005

201,099133,695

-34,789

366,439

269,943131,286-34,789

-66,434

-68,8432,410

631,866

151,566480,300

94,714385,586

81,773

54,08532,071-4,383

94,729

65,08934,023-4,383

-12,956

-11,004-1,952

646,379

148,052498,327

96,702401,625

357,762

241,312152,763-36,313

402,725

295,772143,267-36,313

-44,963

-54,4599,496

709,138

157,295551,843

105,004446,839

401,997

270,484168,012-36,498

450,836

332,016155,318-36,498

-48,839

-61,53312,694

780,425

169,477610,948

115,480495,468

465,940

316,351189,641-40,052

493,673

362,420171,305-40,052

-27,733

-46,06918,335

833,751

189,162644,589

115,594528,996

523,829

347,813222,196-46,179

563,583

405,653204,110-46,179

-39,754

-57,84018,086

892,812

203,923688,889

599,988

383,151265,107-48,270

615,761

429,700234,331-48,270

-15,773

-46,54930,776

939,357

217,368721,989

BUDGET RECEIPTS....

Individual income taxesCorporation income taxesSocial insurance taxes and contributions....Excise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:

Deposits of earnings by Federal Re-serve System

All other

BUDGET OUTLAYS...

National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional developmentEducation, training, employment, and so-

cial servicesHealthIncome securityVeterans benefits and services....,Administration of justiceGeneral governmentGeneral purpose fiscal assistanceInterestAllowancesUndistributed offsetting receipts

Composition of undistributed offsettingreceipts:

Employer share, employee retirement.Interest received by trust fundsRents and royalties on the Outer

Continental Shelf

300,005

131,60341,40992,71416,9635,2164,074

5,4512,575

366,439

89,4305,5524,3703,1278,1242,5043,79213,4354,767

18,73733,448127,41218,4323,3202,9487,235

34,511

81,773

38,8018,460

25,7604,4731,4551,212

1,500112

94,729

22,3072,1931,161794

2,532581

1,3923,3041,340

5,1628,721

32,7973,962859883

2,0927,216

357,762

157,62654,892108,68817,5487,3275,150

5,908622

402,725

97,5014,8134,6774,17210,0005,532- 4 4

14,6366,348

20,98538,785137,91518,0383,6003,3129,499

38,009

401,997

180,98859,952123,41018,3765,2856,573

6,641772

450,836

105,1865,9224,7425,86110,9257,7313,32415,44511,039

26,46343,676146,21218,9743,8023,7379,601

43,966

-14,704

-4,242-7,800

-2,662

-2,567

-985-270

-1,311

-15,053

-4,548-8,131

-2,374

-15,772

-4,983-8,530

-2,259

465,940

217,84165,677141,59118,7455,4117,439

8,327910

493,673

117,6816,0915,0416,85612,0916,2382,56517,4599,482

29,68549,614160,19819,9284,1534,1538,372

52,556

-18,488

-5,271-9,950

-3,267

523,829

238,71772,303162,18126,3335,7777,600

10,058861

563,583

130,36810,4015,8897,75112,7764,6365,47619,6318,467

30,65456,563190,94820,7664,5304,8858,670

63,330100

-22,258

-5,919-11,539

-4,800

599,988

274,36771,574187,39740,2095,9388,403

10,8761,224

615,761

146,2419,6126,4428,10712,8192,802712

20,1598,820

31,98962,449

219,98221,7314,6994,9319,617

67,1972,570

-25,119

-6,161-12,958

- 6 , 0 0 0

Note.—Through fiscal year 1976, the fiscal year was on a July 1—June 30 basis. Beginning October 1976 (fiscal year 1977), thefiscal year is on an October 1—September 30 basis. The period July 1, 1976 through September 30, 1976 is a separate fiscal periodknown as the transition quarter.

See "Budget of the United States Government, Fiscal Year 1981" for additional information.

Sources: Department of the Treasury and Office of Management and Budget.

285

2 9 4 - 2 8 9 0 - 8 0 - 1 9


TABLE B-70.—Federal budget receipts and outlays, fiscal years 1929-81


1929 ..

1933

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967 .19681969

19701971197219731974

19751976Transition quarter197719781979

19801

1981 *

Fiscal year Receipts

3,862

1,997

4,979

6,3618,62114,35023,64944,276

45,21639,32738,39441,77439,437

39,48551,64666,20469,57469,719

65,46974,54779,99079,63679,249

92,49294,38999,676106,560112,662

116,833130,856149,552153,671187,784

193,743188,392208,649232,225264,932

280,997300,00581,773

357,762401,997465,940

523,829599,988

Outlays

3,127

4,598

8,841

9,45613,63435,11478,53391,280

92,69055,18334,53229,77338,834

42,59745,54667,72176,10770,890

68,50970,46076,74182,57592,104

92,22397,795106,813111,311118,584

118,430134,652158,254178,833184,548

196,588211,425232,021247,074269,620

326,185366,43994,729402,725450,836493,673

563,583615,761

Surplus ordeficit (-)

734

-2,602

-3,862

-3,095-5,013

-20,764-54,884-47,004

-47,474-15,856

3,86212,001

603

-3,1126,100

-1,517-6,533-1,170

-3,0414,0873,249

-2,939-12,855

269-3,406-7,137-4,751-5,922

-1,596-3,796-8,702

-25,1613,236

-2,845-23,033-23,373-14,849-4,688

-45,188-66,434-12,956-44,963-48,839-27,733

-39,754-15,773

1 Estimates.Note.—Under provisions of the Congressional Budget Act of 1974, the fiscal year for the Federal Government shifted beginning with

fiscal year 1977. Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977),the fiscal year is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is aseparate fiscal period Known as the transition quarter.

Data for 1929-39 are according to the administrative budget and those beginning 1940 according to the unified budget.Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1981" for additional information.Sources: Department of the Treasury and Office of Management and Budget.


TABLE B-71.—Relation of Federal Government receipts and expenditures in the national income and

product accounts to the unified budget, 1979-81

[Billions of dollars; fiscal years]

Receipts and expenditures

RECEIPTS

Total budget receipts

Government contribution for employee retirement (grossing)Other netting and grossingAdjustment to accrualsOther

Federal sector, national income and product accounts, receipts

EXPENDITURES

Total budget outlays

Lending and financial transactionsGovernment contribution for employee retirement (grossing)Other netting and grossingDefense timing adjustmentBonuses on Outer Continental Shelf land leasesOther

Federal sector, national income and product accounts, expenditures ,

1979

465.9

7.93.67.3

_ 9

483.7

493.7

- 7 . 27.93.6

- 1 . 31.94.9

493.6

Estimate

1980

523.8

8.83.8

- 4 . 8- 1 0

530.6

563.6

- 7 . 38.83.8

- 2 . 73.0

- 4 . 9

564.2

1981

600.0

9.44.3

- 4 . 9- 1 2

607.7

615.8

- . 49.44.3

- 2 . 23.9

- 4 . 4

626.3

Note.—See Note, Table B-70.See Special Analysis B, "Special Analyses, Budget of the United States Government, Fiscal Year 1981" for description of these

categories.

Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management andBudget.


TABLE B-72.—Government receipts and expenditures, national income and product accounts, 1929-79


Calendar year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

1979:1IIIIIIV

Total government

Receipts

11.3

9.3

15.4

17.725.032.649.251.253.251.056.958.955.9

69.085.290.194.689.9

101.1109.7116.2115.0129.4

139.5144.8156.7168.5174.0188.3212.3228.2263.4296.3

302.6322.2367.4411.2455.1468.5538.3606.6685.7771.9

589.5599.0609.6628.5

642.4678.6696.3725.4

741.1754.0782.9

Expendi-tures

10.3

10.7

17.6

18.428.864.093.3

103.092.745.642.550.559.3

61.079.293.9

101.697.098.0

104.5115.3127.6131.0

136.4149.1160.5167.8176.3187.8213.6242.4268.9285.6

311.9340.5370.9404.9458.2532.8574.0626.1686.0757.9

602.6615.6633.1653.3

661.7673.7694.1714.5

725.3741.3768.8796.2

Surplus ordeficit(-),

nationalincome

andproduct

accounts

1.0

- 1 . 4

- 2 . 2

-.7-3 .8

-31.4-44.1-51.8-39.5

5.414.48.4

- 3 . 4

8.06.1

- 3 . 8- 6 . 9- 7 . 1

3.15.2.9

-12.6- 1 . 6

3.1- 4 . 3- 3 . 8

.7- 2 . 3

.5- 1 . 3

-14.2- 5 . 510.7

- 9 . 4-18.3

- 3 . 56.3

- 3 . 2-64.4-35.7-19.5

- .314.0

-13.1-16.6-23.5-24.8

-19.25.02.3

10.8

15.812.714.0

Federal Government

Receipts

3.8

2.7

6.7

8.615.422.939.341.042.539.143.243.238.7

50.064.367.370.063.772.678.081.978.789.8

96.198.1

106.2114.4114.9124.3141.8150.5174.7197.0

192.1198.6227.5258.3288.6286.2331.4375.4432.1497.6

366.8370.8375.8388.2

397.8424.8442.1463.5

475.0485.8504.8

Expendi-tures

2.6

4.0

8.9

10.020.556.185.895.584.635.629.834.941.3

40.857.871.177.169.868.171.979.688.991.0

93.1101.9110.4114.2118.2123.8143.6163.7180.6188.4

204.2220.6244.7265.0299.3356.8385.0421.7459.8508.0

404.0411.6429.4441.8

447.3449.4462.6479.7

486.8492.9516.1536.4


nationalincome

andproduct

accounts

1.2

- 1 . 3

- 2 . 2

- 1 . 3- 5 . 1

-33.1-46.6-54.5-42.1

3.513.48.3

- 2 . 6

9.26.5

-3 .7- 7 . 1- 6 . 0

4.46.12.3

-10.3-1 .1

3.0- 3 . 9- 4 . 2

.3- 3 . 3

.5- 1 . 8

-13.2- 5 . 8

8.5

-12.1-22.0-17.3

-6 .7-10.7-70.6-53.6-46.3-111-10.5

-37.2-40.9-53.6-53.6

-49.4-24.6-20.4-16.3

-11.7- 7 . 0

-11.3

Receipts

7.6

7.2

9.6

10.010.410.610.911.111.613.015.417.719.5

21.323.425.427.429.031.735.038.542.046.4

49.954.058.563.269.575.184.893.6

107.2119.7

134.9152.6177.4193.5210.4236.9268.0298.8331.0354.4

285.4293.7305.2310.7

319.0330.5331.8342.6

343.9345.9359.8

State and localgovernment

Expendi-tures

7.8

7.2

9.6

9.39.18.88.48.59.0

11.114.417.620.2

22.523.925.527.330.232.935.939.844.346.9

49.854.458.062.868.575.184.394.7

106.9117.6

132.2148.9163.7180.5202.8230.6250.1271.9303.6329.9

261.3269.5275.1281.9

288.8301.0309.1315.5

316.3326.1334.5342.8


nationalincome

andproduct

accounts

- 0 . 2

1

.0

.61.31.82.52.72.61.91.0.1

-.7

- 1 . 2- .4- .0

.1- 1 . 1- 1 . 3- .9

- 1 . 4- 2 . 4- .4

.1- .4

.5

.51.0

- .0.5

-1 .1.3

2.1

2.83.7

13.713.07.66.2

17.926.827.424.4

24.224.230.128.8

30.229.611127.1

27.619.725.3

Note.—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local receipts. Totalgovernment receipts and expenditures have been adjusted to eliminate this duplication.



TABLE B-73.—Federal Government receipts and expenditures, national income and product accounts,

1953-81


Year or quarter

Receipts

Total

Personaltax andnontax

receipts

Corpo-rate

profitstax

accruals

Indirectbusinesstax andnontax

accruals

Contri-butions

forsocialinsur-ance

Expenditures

Total1

Pur-chases

ofgoods

andserv-ices

Transferpayments

Topersons

Toforeign-

ers

Grants-in-aid

toStateandlocal

govern-ments

Netinter-estpaid

Subsi-diesless

currentsurplus

ofgovern-

mententer-prises

Surplusor

deficit

nationalincome

andproductaccounts

Fiscal year:1953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980 2

1981 2

Calendar year:195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979 ".

1978:IIIIllIV

1979:|||

III

IV P

69.465.867.476.381.078.185.494.895.0104.0110.0115.6120.0132.7146.0160.0190.1194.9192.5213.5240.5271.8283.5313.9366.0414.7483.7530.6607.7

70.063.772.678.081.978.789.896.198.1106.2114.4114.9124.3141.8150.5174.7197.0192.1198.6227.5258.3288.6286.2331.4375.4432.1497.6

397.8424.8442.1463.5

475.0485.8504.8

31.430.329.733.636.736.338.242.543.647.349.650.751.457.564.471.490.093.687.5100.3107.3122.6127.1137.0166.0186.3223.5245.1279.7

32.229.031.435.237.436.839.943.644.748.651.548.653.961.767.579.694.892.289.9108.2114.6131.1125.4147.2169.6194.9229.9

178.9188.8200.9211.0

213.0223.4235.2248.1

19.717.318.921.520.817.921.422.320.022.723.325.727.130.830.333.237.033.032.034.241.043.742.151.759.167.778.476.577.1

19.516.921.120.920.418.022.521.421.522.524.626.128.931.430.036.336.230.833.536.643.045.942.854.661.872.078.3

60.272.274.681.2

77.274.979.4

10.710.410.010.811.711.612.013.213.314.215.015.616.915.515.817.118.619.220.019.920.721.422.224.324.527.229.438.553.0

10.99.7

10.711.211.811.512.513.413.614.615.316.216.515.616.318.019.019.320.420.021.221.723.923.425.128.130.0

26.628.028.429.3

29.429.930.030.7

7.67.88.7

10.311.712.313.916.718.119.922.123.624.528.935.538.444.549.252.959.171.584.292.1

100.9116.4133.5152.4170.5197.9

7.48.29.4

10.612.312.414.917.618.320.523.124.025.033.136.740.847.049.754.962.879.489.994.2

106.3118.9137.0159.3

132.2135.8138.2142.0

155.5157.5160.2164.2

75.974.367.270.076.082.891.291.398.1

106.2111.7117.2118.5132.7154.9172.2184.7195.6212.7232.9256.2278.8328.7371.1411.4450.1493.6564.2626.3

77169.868.171.979.688.991.093.1

101.9110.4114.2118.2123.8143.6163.7180.6188.4204.2220.6244.7265.0299.3356.8385.0421.7459.8508.0

447.3449.4462.6479.7

486.8492.9516.1536.4

56.453.944.345.548.151.154.852.955.861.063.765.964.672.486.095.098.097.094.8

100.9101.7104.6118.0125.7140.3150.7162.4185.6202.9

57.547.944.545.950.053.953.953.757.463.764.665.267.378.890.998.097.595.696.2

102.1102.2111.1123.1129.7144.4152.6166.3

150.9148.2152.3159.0

163.6161.7162.9177.0

9.210.512.112.814.417.819.920.623.625.126.527.428.431.837.242.748.755.067.776.187.1

101.7131.2153.5166.4178.5197.7230.9263.2

9.411.512.413.415.719.620.121.625.025.627.027.930.333.540.146.050.661.372.780.593.2

114.4146.0158.4169.5181.6205.7

176.4176.8185.3187.9

192.7198.0213.9217.9

2.11.72.11.81.91.71.81.82.12.12.12.22.22.32.22.12.22.02.32.82.73.03.13.03.23.54.04.24.4

2.01.82.01.91.81.81.81.92.12.22.22.22.22.32.22.12.12.22.62.72.63.23.13.23.23.73.9

3.43.93.54.2

4.03.93.74.0

2.82.93.03.23.74.76.26.96.97.68.39.8

10.912.714.817.819.222.626.832.640.441.648.457.666.374.779.384.390.7

2.82.93.13.34.25.66.86.57.28.09.1

10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.1

74.476.777.680.7

77.877.781.883.0

4.54.64.64.85.35.45.66.86.46.47.17.78.28.79.6

10.512.113.614.214.115.919.821.925.228.433.140.449.252.2

4.64.64.65.15.55.26.26.86.26.87.38.08.49.29.8

11.412.914.314.014.618.220.923.226.829.034.843.0

32.534.035.637.1

40.042.643.546.0

.9

.81.21.72.62.42.52.43.34.14.04.14.34.85.24.14.65.46.86.49.18.05.76.26.99.69.8

10.012.9

.71.01.52.42.42.82.12.64.04.23.94.54.65.54.74.55.26.36.27.88.25.36.85.88.19.79.0

9.79.88.4

10.9

8.39.0

10.28.4

- 6 . 5- 8 . 5

.26.35.0

- 4 . 7- 5 . 8

3.4- 3 . 1- 2 . 2- 1 . 7- 1 . 5

1.4.0

- 8 . 9-12.2

5.4- . 6

-20.2-19 .5-15.7- 7 . 0

-45 .3-57.3-45.5-35.4

- 9 . 9-33.6-18.6

- 7 . 1-6 .0

4.46.12.3

-10.3- 1 . 1

3.0- 3 . 9-4 .2

.3- 3 . 3

.5- 1 . 8

-13.2- 5 . 8

8.5-12.1-22.0-17.3- 6 . 7

-10.7-70.6-53.6-46.3-27.7-10.5

-49.4-24.6-20.4-16.3

-11.7- 7 . 0

-11 .3

1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Estimates.

Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.


TABLE B-74.—State and local government receipts and expenditures, national income and product accounts,

1946-79


Calendar yearor quarter

Receipts

Total

Personaltax andnontax

receipts

Corpo-rate

profitstax

accruals

Indirectbusinesstax andnontax

accruals

Contribu-tions for

socialinsurance

Federalgrants-in-aid

Expenditures

Total1

Pur-chases

ofgoods

andservices

Trans-fer

pay-ments

toper-sons

Netinterest

paid

Subsi-diesless

currentsurplus

ofgovern-

mententer-prises

Surplusor

deficit( —)

nationalincome

andproduct

accounts

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 ".

1977:|IIIllIV

1978:1IIIll .IV

1979:|IIIllIV

13.015.417.719.5

21323.425.427.429.0

31.735 038.542.046.4

49.954.058.563.269.5

75.184.893.6107.2119.7

134.9152.6177.4193.5210.4

236.9268.0298 8331.0354.4

285.4293.7305.2310.7

319.0330.5331.8342.6

343.9345.9359.8

1.51.72.12.4

2.52.83.03.23.5

3.94.55.05.46.1

6.77.48.28.8

10.0

10.912.814.617.420.6

23.126.433.036.139.2

43.449.956.864.169.9

54.656.357.458.9

60.963.365.067.2

67.367.371.473.7

0.5.6.7.6

1.01.01.01.01.2

1.21.31.51.71.8

2.02.22.53.13.4

3.74.25.05.76.5

7.19.3

10.912.514.3

10.310.811.111.3

10.612.512.913.9

14.113.714.7

9.310.712.213.3

14.615.917.418.819.9

21.623.825.727.229.3

32.034.437.039.442.6

46.149.754.060.867.4

74.783.191.099.0

106.9

115.4128.0140.0150.0159.5

135.8137.9141.3144.9

147.0151.3148.8152.8

155.5157.0161.1164.5

0.6.7

1.11.41.61.72.0

2.12.32.62.83.1

3.43.73.94.24.7

5.05.76.77.27.9

9.09.9

10.812.113.9

16.419.723.627.130.5

22.123.124.025.1

26.026.827.528.0

29.130.230.931.8

1.11.72.02.2

2.32.52.62.82.9

3.13.34.25.66.8

6.57.28.09.1

10.4

11.114.415.918.620.3

24.429.037.540.643.9

54.661.167.577.380.1

62.765.571.470.4

74.476.777.680.7

77.877.781.883.0

11.114.417.620.2

22.523.925.527.330.2

32.935.939.844.346.9

49.854.458.062.868.5

75.184.394.7

106.9117.6

132.2148.9163.7180.5202.8

230.6250.1271.9303.6329.9

261.3269.5275.1281.9

288.8301.0309.1315.5

316.3326.1334.5342.8

9.912.815.318.0

19.821.823.225.027.8

30.633.537.141.143.7

46.550.854.359.064.6

71.179.889.3

100.7110.4

123.2137.5151.0167.3191.5

215.4231.6251.8283.0309.8

241.8249.0254.9261.6

268.5280.1288.6294.8

296.5304.9314.9322.8

1.72.33.03.0

3.63.13.33.53.6

3.83.94.34.85.1

5.45.86.06.46.9

7.38.19.4

10.612.1

14.617.218.920.320.5

24.527.430.233.336.3

29.129.830.531.3

32.133.033.834.4

35.035.736.537.9

0.2.1.1.1

.1

.0

.0

.0

.1

.1

.1

.1

.1

.1

.1

.1

.1

.1- . 1

- . 3

- ! 9-1 .2- 1 . 6

- 2 . 0- 1 . 8- 2 . 1- 2 . 9- 4 .9

- 4 . 8- 4 . 1- 5 . 0- 7 . 1- 9 . 5

-4.3-4.6-5.2-5.9

- 6 . 4- 7 . 0- 7 . 3- 7 . 6

- 8 . 3- 9 . 0

-10.0-10.8

- 0 . 7- . 8- . 8- . 9

- . 9- 1 . 0- 1 . 1- 1 . 2- 1 . 3

- 1 . 5- 1 . 6- 1 . 7- 1 . 7- 2 . 0

- 2 . 2- 2 . 3- 2 . 5- 2 . 8- 2 . 8

- 3 . 0- 3 . 0- 3 . 1-3 .2- 3 . 3

- 3 . 6- 3 . 8- 4 . 2- 4 . 4- 4 . 3

- 4 . 5- 4 . 8- 5 . 0- 5 . 5- 6 . 7

-6.5-6.4-7.0-6.9

1.91.0.1

- . 7

-1 .2- . 4- . 0

.1- 1 . 1

- 1 . 3- . 9

- 1 . 4-2 .4

- . 4

.1- . 4

.5

.51.0

- . 0.5

- 1 . 1.3

2.1

2.83.7

13.713.07.6

6.217.926.827.424.4

24.224.230.128.8

30.229.622.727.1

27.619.725.3

1 Includes an item for the difference between wage accruals and disbursements, not shown separately.



TABLE B-75.—State and local government revenues and expenditures, selected fiscal years, 1927-77


Fiscal yearl

General revenues by source2

Total Propertytaxes

Salesand

grossre-

ceiptstaxes

Individ-ual

i.icometaxes

Corpo-ration

netincometaxes

Revenuefrom

FederalGovern-

ment

Allother3

General expenditures by function2

Total Educa-tion

High-ways

Publicwelfare

Allother4

1927

1932193419361938

19401942194419461948

1950195219531954

19551956195719581959

1960196119621963

1962-635

1963-6451964-655

1965-665

1966-675

1967-685

1968-695

1969-705

1970-715

1971-725

1972-735

1973-745

1974-755

1975-765

1976-775

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729,012

31,07334,66738,16441,21945,306

50,50554,03758,25262,890

62,26968,44374,000

83,03691,197

101,264114,550130,756

144,927166,352190,214207,670228,171

256,176285,796

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10,73511,74912,86414,04714,983

16,40518,00219,05420,089

19,83321,24122,583

24,67026,04727,74730,67334,054

37,85242,13345,28347,70551,491

57,00162,535

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,6919,4679,82910,437

11,84912,46313,49414,456

14,44615,76217,118

19,08520,53022,91126,51930,322

33,23337,48842,04746,09849,815

54,54760,595

70

7480153218

224276342422543

788998

1,0651,127

1,2371,5381,7541,7591,994

2,4632,6133,0373,269

3,2673,7914,090

4,7605,8267,3088,90810,812

11,90015,23717,99419,49121,454

24,57529,245

92

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,2661,3081,505

1,5051,6951,929

2,0382,2272,5183,1803,738

3,4244,4165,4256,0156,642

7,2739,174

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,3353,8434,8656,377

6,9747,1317,8718,722

8,66310,00211,029

13,21415,37017,18119,15321,857

26,14631,25339,25641,82047,034

55,58962,575

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,4659,2509,69910,516

11,63412,56313,48914,850

14,55615,95117,250

19,26921,19723,59826,11829,971

32,37435,82640,21046,54151,735

57,19161,673

7,210

7,7657,1817,6448,757

9,2299,1908,86311,02817,684

22,78726,09827,91030,701

33,72436,71140,37544,85148,887

51,87656,20160,20664,816

63,97769,30274,546

82,84393,350102,411116,728131,332

150,674166,873181,227198,959230,721

256,731274,388

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,39010,557

11,90713,22014,13415,91917,283

18,71920,57422,21623,776

23,72926,28628,563

33,28737,91941,15847,23852,718

59,41364,88669,71475,83387,858

97,216102,805

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,9537,8168,5679,592

9,4289,844

10,35711,136

11,15011,66412,221

12,77013,93214,48115,41716,427

18,09519,01018,61519,94622,528

23,90723,105

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,1393,4853,8184,136

4,4044,7205,0845,481

5,4205,7666,315

6,7578,2189,857

12,11014,679

18,22621,07023,58225,08528,155

32,60435,941

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210,61911,557

12,19713,39914,94016,54717,876

19,32521;06322,54924,423

23,67825,58627,447

30,02933,28136,91541,96347,508

54,94061,90769,31678,09692,180

103,004112,537

1 Fiscal years not the same for all governments. See footnote 5.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities. Intergovernmental

receipts and payments between State and local governments are also excluded.3 Includes licenses and other taxes and charges and miscellaneous revenues.4 Includes expenditures for health, hospitals, police, local fire protection, natural resources, sanitation, housing and urban renewal,

local parks and recreation, general control, financial administration, interest on general debt, and unallocable expenditures.5 Data for fiscal year ending in the 12-month period through June 30. Data for 1963 and earlier years include local government

amounts grouped in terms of fiscal years ended during the particular calendar year.

Note.—Data are not available for intervening years.



TABLE B-76.—Interest-bearing public debt securities by kind of obligation, 1967-79


End of year or month

Totalinterest-bearingpublicdebt

securities

Marketable

Total BillsTreasury

notesTreasurybonds»

Nonmarketable

TotalU.S.

savingsbonds

Foreigngovern-

mentand

publicseries2

Govern-ment

accountseries3

Other4

Fiscal year:196719681969

19701971197219731974

19751976197719781979



1979:JanFeb.MarApr.MayJune.


322,286344,401351,729

369,026396,289425,360456,353473,238

532,122619,254697,629766,971819,007

720,563728,474736,929733,074740,579748,002

749,462763,404766,971775,452782,048782,371

789,502791,249792,344795,434803,816799,863

806,508812,095819,007825,736832,730843,960

5 210,672226,592226,107

232,599245,473257,202262,971266,575

315,606392,581443,508485,155506,693

466,780470,766478,252472,193473,684477,699

481,041485,557485,155491,651493,337487,546

496,529497,976500,400504,585506,867499,343

506,994509,187506,693515,033519,573530,731

58,53564,44068,356

76,15486,67794,648

100,061105,019

128,569161,198156,091160,936161,378

161,221161,817165,652159,640159,391159,757

160,092160,615160,936161,227161,548161,747

162,286162,416165,459163,730163,076159,890

159,938160,489161,378161,692165,100172,644

49,10871,07378,946

93,489104,807113,419117,840128,419

150,257191,758241,692267,865274,242

257,077258,472262,179262,180261,612265,310

266,586268,531267,865272,610271,663265,791

272,807271,372270,803275,311276,123272,066

278,257277,582274,242280,832279,723283,379

97,41891,07978,805

62,95653,98949,13545,07133,137

36,77939,62645,72456,35571,073

48,48350,47750,42050,37352,68152,632

54,36356,41056,35557,81460,12560,007

61,43664,18964,13965,54467,66867,387

68,79971,11671,07372,51074,75174,708

111,614117,808125,623

136,426150,816168,158193,382206,663

216,516226,673254,121281,816312,314

253,783257,707258,677260,881266,895270,303

268,420277,847281,816283,801288,711294,825

292,973293,273291,944290,849296,949300,520

299,514302,909312,314310,703313,157313,229

51,21351,71251,711

51,28153,00355,92159,41861,921

65,48269,73375,41179,79880,440

76,98777,41577,80478,22078,64578,965

79,28179,54379,79880,09180,33180,546

80,41480,45980,41780,42680,43080,460

80,52480,50380,44080,17879,66979,517

1,5143,7414,070

4,7559,270

18,98528,52425,011

23,21621,50021,79921,68028,115

22,78722,59723,64923,43322,41921,460

20,81322,22421,68024,04226,62429,593

30,25728,15028,16125,41625,15826,807

28,01527,68828,11523,86023,89523,551

56,15559,52666,790

76,32382,78489,598

101,738115,442

124,173130,557140,113153,271176,360

136,364139,422137,956138,833144,394146,448

144,665149,047153,271152,685154,812157,522

155,237157,637153,765158,178164,552166,274

163,882167,301176,360175,267176,992177,460

2,7312,8283,051

4,0685,7593,6543,7014,289

3,6444,883

16,79727,06727,400

17,64418,27319,26720,39521,43623,430

23,66027,03227,06726,98326,94427,164

27,06527,02729,60126,82926,80926,981

27,09427,41827,40031,39832,60132,701

1 Includes Treasury bonds and minor amounts of Panama Canal and postal savings bonds.2 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-

currency denominated issues.3 Includes Treasury deposit funds and some special issues formerly included in "Other."4 Includes depository bonds, retirement plan bonds, Rural Electrification Administration bonds, State and local bonds, and special

issues held only by U.S. Government agencies and trust funds and the Federal home loan banks.5 Includes $5,610 million in certificates not shown separately.

Note.—Through fiscal year 1976, the fiscal year was on a July 1—June 30 basis; beginning October 1976 (fiscal year 1977) thefiscal year is on an October 1—September 30 basis.

Source: Department of the Treasury.


TABLE B-77.—Estimated ownership of public debt securities, 1967-79

[Par values;1 billions of dollars]


Fiscal year:196719681969

1970 '1971197219731974

19751976197719781979

1978:JanFebMar

MayJune


1979JanFebMar

MayJune


Total public debt securities

Total2

322.9345.4352.9

370.1397.3426.4457.3474.2

533.2620.4698.8771.5826.5

721.6729.8738.0736.6741.6749.0

750.5764.4771.5776.4783.0789.2

790.5792.2796.8796.4804.8804.9

807.5813.1826.5826.8833.8845.1

Held byGovern-

mentaccounts

71.876.184.8

95.2102.9111.5123.4138.2

145.3149.6155.5168.0187.7

1515154.2152.7153.6159.1161.1

159.3163.7168.0166.3167.4170.0

167.7170.1166.3170.7177.1178.6

176.3178.6187.7185.7187.1187.1

Held byFederalReserveBanks

46.752.254.1

57.765.571.475.080.5

84.794.4

104.7115.3115.5

97.098.5

101.6103.5102.8110.1

108.9111.7115.3115.3113.3110.6

101.3103.5110.9108.6106.2109.7

111.4113.0115.5114.6118.1117.5

Held by private investors

Total3

204.4217.0214.0

217.2228.9243.6258.9255.6

303.2376.4438.6488.3523.4

473.1477.1483.7479.5479.7477.8

482.3489.0488.3494.7502.3508.6

521.4518.6519.6517.1521.5516.6

519.8521.5523.4526.5528.6540.5

Corn-banks4

55.559.755.3

52.661.060.958.853.2

69.092.599.896.392.3

1001101.7100.7100.398.499.1

97.996.896.395.394.594.7

93.394.495.696.297.694.0

93.492.792.393.595.0

Mutualsavingsbanksand

insur-ancecom-

panies

13.212.511.6

10.410.310.29.68.5

10.616.020.520.319.3

21321.821.120.420.619.9

20.320.320.320.520.219.9

20.120.220.119.719.819.1

19.219.219.319.318.8

Corpora-tions5

11.012.011.1

8.57.49.39.8

10.8

13.224.323.321.323.7

23.422.320.819.518.918.2

19.122.421.320.420.820.5

21.222.511122.624.922.8

21.220.723.724.124.0

State andlocal

govern-ments 6

23.625.126.4

29.025.926.928.828.3

31.739.353.069.068.9

55.357.760.660.159.763.7

62.970.769.068.370.470.1

69.269.871.471.771.770.5

69.970.168.969.768.2

Indi-viduals7

70.474.277.3

81.875.473.275.980.7

87.196.4

103.9109.4113.2

106 3107.0107.1107.3108.1108.2

108.6109.2109.4110.0110.3110.8

111.2111.6111.9112.3112.6112.5

112.7112.9113.2113.4113.7

Miscel-laneousinves-

tors3-8

30.733.432.3

35.049.163.276.074.2

91.5107.9138.1172.1205.9

166.6166.6173.5171.9173.9168.6

173.6169.7172.1180.2186.1192.7

206.2200.1197.9194.7195.0197.6

203.4205.9205.9206.4208.9

1 U.S savings bonds, series A-F and J, and U.S. savings notes are included at current redemption value.2 As of July 31, 1974, public debt outstanding has been adjusted to exclude the notes of the International Monetary Fund to conformwith the Budget presentation. This adjustment applies to the 1967-79 data in this table.3 For comparability with 1975-79 published data, published data for 1967-74 have been adjusted to exclude notes of theInternational Monetary Fund. These adjustments amounted to $3.3 billion in 1967, $2.2 billion in 1968, and $0.8 billion in each year1969 through 1974. These adjustments were necessary in order to add to the total public debt figures as published by the Departmentof the Treasury.

4 Includes commercial banks, trust companies, and stock savings banks in the United States and Territories and island possessions;figures exclude securities held in trust departments. Since the estimates in this table are on the basis of par values and includeholdings of banks in United States Territories and possessions, they do not agree with the estimates in Table B-59, which are based onbook values and relate only to banks within the United States.

5 Exclusive of banks and insurance companies.6 Includes trust, sinking, and investment funds of State and local governments and their agencies, and of Territories and

possessions.7 Includes partnerships and personal trust accounts.8 Includes savings and loan associations, nonprofit institutions, corporate pension trust funds, dealers and brokers, certain

government deposit accounts and government-sponsored agencies, and investments of foreign balances and international accounts inthe United States.

Note.—Through fiscal year 1976, the fiscal year was on a July 1—June 30 basis; beginning October 1976 (fiscal year 1977), thefiscal year is on an October 1—September 30 basis.



TABLE B-78.—Average length and maturity distribution of marketable interest-bearing public debt securities

held by private investors, 1967-79


Amountout-

standing,privately

held

Maturity class

Withinlyear

I t o 5years

5 to 10years

10 to 20years

20 yearsand over

Average length

Fiscal year:19671968..1969

19701971197219731974

19751976197719781979

1978:JanFeb.MarAprMayJune-

JulyAugSeptOctNovDec...

1979:JanFeb.Mar

MPayJune.

JulyAugSeptOctNovDec...

Millions of dollars

150,321159,671156,008

157,910161,863165,978167,869164,862

210,382279,782326,674356,501380,530

355,374358,320362,693355,144356,892353,660

358,255359,919356,501362,443367,256365,239

382,556381,797380,060383,315388,001377,649

383,102384,771380,530389,074390,439402,226

56,56166,74669,311

76,44374,80379,50984,04187,150

115,677151,723161,329163,819181,883

177,642175,195178,474170,272166,094162,533

163,619163,512163,819165,337170,492174,231

184,277185,602186,967185,725188,018184,113

183,277182,891181,883182,297180,671190,408

53,58452,29550,182

57,03558,55757,15754,13950,103

65,85289,151113,319132,993127,574

123,692130,715132,501130,884135,524137,543

139,017136,462132,993136,064133,876128,293

133,992132,434129,454132,538130,576124,443

129,462130,607127,574134,205133,281133,168

21,05721,85018,078

8,28614,50316,03316,38514,197

15,38524,16933,06733,50032,279

32,71229,85329,41431,81631,75830,458

30,57333,60333,50033,47633,69533,604

33,69031,29931,24531,23533,57233,359

33,55532,39232,27932,32534,31936,592

6,1536,1106,097

7,8766,3576,3588,7419,930

8,8578,0878,42811,38318,489

9,7339,7199,6359,5719,8479,766

11,51211,40711,38312,74613,87913,833

15,28215,19515,14116,57817,32617,271

18,61718,54818,48919,93819,86619,796

12,96812,67012,337

8,2727,6456,9224,5643,481

4,6116,65210,53114,80520,304

11,59512,83812,66912,60113,66813,360

13,53314,93614,80514,82015,31415,278

15,31517,26717,25417,23918,50818,462

18,39020,33420,30420,30922,30222,262

Years Months

631

11

71137

11011011

13

244

109

Note.—All issues classified to final maturity.Through fiscal year 1976, the fiscal year was on a July 1—June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year

is on an October 1—September 30 basis.



CORPORATE PROFITS AND FINANCE

TABLE B-79.—Corporate profits with inventory valuation and capital consumption adjustments, 1946-79


Year or quarter

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979".

1977:III .IllIV

1978:1IIIIIIV

1979:I||III

Corporateprofits with

inventoryvaluation

and capitalconsumptionadjustments

16.622.229.126.9

33.738.135.435.534.6

44.642.942.137.548.2

46.646.954.959.667.0

77.182.579.385.881.4

67.977.292.199.183.6

95.9126.8150.0167.7178.5

137.1148.9160 8153.0

141.2169.4175.2184.8

178.9176 6180.8

Corporateprofits tax

liability

9.111.312.410.2

17.922.619.420.317.6

22.022.021.419.023.6

22.722.824.026.228.0

30.933.732.539.439.7

34.537.741.548.752.4

49.863.872.684.592.7

69.272 573 775.1

70.884.787.595.1

91388 794.0

Profits after tax with inventory valuation andcapital consumption adjustments

Total

7.510.916.716.7

15.715.516.015.217.0

22.620.920.618.524.6

23.924.130.933.439.0

46.248.946.846.441.8

33.439.550.550.431.2

46.163.077.383.285.8

67 876 487 277.9

70.484.787.889.8

87.688 0867

Dividends

5.66.37.07.2

8.88.58.58.89.1

10.311.111.511.312.2

12.913.314.415.517.3

19.119.420.121.922.6

22.923.024.627.831.0

31.937.542.147.252.7

40.841.542 743.4

45.146.047.849.7

51.552 35Z8

Undistributedprofits with

inventoryvaluation

and capitalconsumptionadjustments,

2.04.69.79.5

6.97.07.56.47.9

12.29.89.17.2

12.4

11.010.816.517.921.7

27.129.426.724.419.2

10.516.525.922.6

.2

14.225.535.236.033.1

27.034.944 534.5

25.338.740.040.1

36.135 634.0

Source-. Department of Commerce, Bureau of Economic Analysis.


TABLE B-80.—Corporate profits by industry, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

1979:1IIIII

Corporate profits with inventory valuation adjustment and without capital consumption adjustment

Total

10.5

- 1 . 2

6.3

9.815.220.324.423.819.219.325.633.030.8

37.642.739.839.537.846.745.945.440.851.2

48.948.753.757.664.273.378.675.682.177.9

66.476.989.697.286.5

107.9141.3162.0180.8195.2

149.7160.3172.0166.0

153.6182.0189.0198.6

193.3191.3198.3

Domestic industries

Total

10.2

- 1 . 2

6.1

9.615.020.124.123.518.918.924.932.229.9

36.741.538.738.436.445.144.143.539.149.4

47.046.351.154.961.070.175.972.678.974.2

62.672.484.790.476.9

101.8133.1152.1170.6181.9

139.9150.5161.2156.9

143.5171.0178.8189.0

181.4179.6182.5

Total

1.3

.3

.8

1.01.11.21.31.61.72.11.72.63.1

3.13.64.04.54.64.85.05.25.76.8

7.27.07.36.86.97.58.59.0

10.411.3

12.614.115.416.214.413.017.823.829.733.0

21.322.924.826.4

27.228.930.632.1

31.932.033.8

Financial'

CpHpralrcQcldl

Re-servebanks

0.0

.0

.0

.0

.0

.0

.01

.1

.11

.2

.2

.2

.3

.4

.4

.3

.3

.5

.6

.6

.7

1.0.8.9

1.01.11.41.72.02.53.1

3.63.33.44.55.75.76.06.27.79.6

6.06.26.26.4

6.97.48.08.6

8.89.29.7

Other

1.3

.3

.8

.91.01.21.31.61.62.01.62.32.9

3.03.33.74.14.34.54.54.65.16.0

6.26.36.45.85.86.26.87.07.98.2

9.010.812.111.78.77.3

11.817.621.923.4

15.216.718.620.0

20.321.522.623.5

23.122.824.1

Total

8.9

- 1 . 5

5.3

8.614.018.922.821.917.316.823.229.626.8

33.537.934.733.931.840.339.138.333.542.6

39.839.343.848.154.162.567.463.668.562.9

50.158.269.374.162.588.9

115.3128.3140.9149.0

118.7127.6136.4130.5

116.3142.1148.3156.9

149.6147.7148.7

Nonfinancial

Manufac-turing2

5.2

- .4

3.3

5.59.5

11.813.813.29.79.0

13.617.616.2

20.924.621.722.019.926.024.724.019.426.2

23.923.026.028.731.938.341.637.941.236.8

27.132.440.644.136.648.365.773.581.789.3

68.375.172.578.1

67.683.485.190.6

94.190.686.4

Whole-saleand

retailtrade

1.0

- .5

.7

1.21.42.23.03.23.33.84.65.54.5

5.05.04.83.83.85.04.54.44.65.9

4.94.95.75.97.47.98.08.9

10.110.1

9.411.713.314.712.920.723.324.123.0

21.523.431.020.5

17.911125.525.8

18.622.426.5

Utili-ties3

1.8

.0

1.0

1.32.03.44.43.92.71.82.23.03.0

4.04.64.95.04.75.65.95.85.97.0

7.47.88.49.39.9

11,011.810.710.710.2

8.28.39.08.35.69.2

13.816.820.3

16.315.318.117.5

17.120.121.222.7

21.718.518.0

Other

0.9

-.7

.3

.61.11.51.61.61.52.12.93.63.1

3.63.73.33.13.43.64.14.03.63.5

3.53.63.84.24.95.36.06.16.55.8

5.35.86.47.07.4

10.712.413.916.0

12.613.814.814.4

13.716.016.517.9

15.116.117.8

Restof theworld

0.2

.0

.2

.2

.2

.2

.2

.3

.2

.4

.7

.8

.8

1.01.21.11.11.41.61.81.91.71.8

1.92.32.62.63.13.32.83.03.23.7

3.84.64.86.89.66.18.29.8

10.213.3

9.89.8

10.79.1

10.111.010.29.6

11.911.715.8



TABLE B-80.—Corporate profits by industry, 1929-79—Continued


year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979 p

1977.1IIIIIIV

19781IIIIIIV

19791IIIll

Corporate profits before deduction of capital consumption allowances, with inventory valuation adjustment

Total

14.7

2.6

10.1

13.619.525.429.729.925.524.031.440.038.7

46.553.051.352.752.864.164.966.362.974.8

74.175.384.290.098.7

110.8119.3119.7130.2130.9

123.0137.8157.4170.9168.1197.2238.5271.3300.6326.1

253.8268.6283.7279.0

270.1301.1309.6321.7

318.8321.7331.1

Domestic industries

Total

14.4

2.6

9.9

13.419.325.229.529.625.323.630.739.237.9

45.551.850.251.651.462.663.164.461.273.0

72.272.981.587.495.6

107.5116.5116.7127.0127.2

119.2133.3152.6164.1158.5191.1230.2261.4290.4312.9

244.0258.8272.9269.9

260.0290.1299.4312.1

306.9310 0315.3

Financial1

Total

1.4

.4

.9

1.11.21.31.41.71.72.21.82.73.3

3.33.84.24.84.95.25.45.76.17.3

7.87.78.07.67.98.59.6

10.211.813.0

14.516.318.019.518.317.322.528.935.238.7

26.228.029.931.6

32.534.336.137.8

37.537 739.6

PoHoralreoerai

Re-servebanks

0.0

.0

.0

.0

.0

.0

.0

.1

.1

.1

.1

.2

.2

.2

.3

.4

.4

.3

.3

.5

.6

.6

.7

1.0.8.9

1.01.21.41.72.02.53.1

3.63.43.44.55.75.76.06.27.89.6

6.06.26.26.4

7.07.48.08.6

8.8929.7

Other

1.4

.4

.9

1.11.21.31.41.61.62.11.72.53.0

3.13.53.94.44.64.84.95.05.56.5

6.86.97.16.66.77.27.98.29.39.9

11.013.014.714.912.611.616.522.727.429.2

20.221.823.725.2

25.626.928.129.1

28.828 529.9

Nonfinancial

Total

13.0

2.2

9.0

12.318.123.928.127.923.621.428.936.534.6

42.248.046.046.846.557.457.758.755.065.7

64.465.373.679.887.799.0

106.9106.5115.1114.2

104.7116.9134.6144.6140.2173.8207.7232.5255.2274.1

217.8230.9243.0238.3

227.5255.8263.3274.4

269.4272 3275.7

Manufac-turing2

7.1

1.3

4.9

7.211.414.216.616.513.011.216.320.819.8

24.929.126.928.327.134.333.633.929.837.1

35.535.240.243.948.055.960.558.763.961.5

53.159.869.975.070.585.2

105.7119.9132.1145.1

112.2121.0120.3126.2

117.0133.7135.5142.2

147.2145 9143.0

Whole-saleand

retailtrade

1.3

-.2

1.0

1.51.72.63.33.53.64.25.26.25.4

6.06.26.15.15.26.76.36.56.68.0

7.37.48.48.7

10.411.111.512.714.314.9

14.717.520.222.121.329.934.336.036.2

33.135.243.032.8

30.635.738.939.5

32.536 741.1

Utili-ties3

2.9

1.1

2.0

2.33.14.85.85.54.63.03.64.74.8

6.17.17.68.18.29.8

10.310.510.912.5

13.314.015.416.817.919.621.321.021.922.4

21.423.226.327.426.732.338.543.349.7

41.741.745.244.8

45.749.451.052.7

52.250 450.0

Other

1.7

.0

1.1

1.41.92.22.42.42.32.93.84.84.6

5.25.65.45.35.96.67.47.87.68.0

8.48.89.6

10.411.412.313.614.115.015.4

15.516.418.320.221.726.429.233.237.3

30.933.034.534.6

34.337.037.939.9

37.539 441.5

PoetKesi

of theworld

0.2

.0

.2

.2

.2

.2

.2

.3

.2

.4

.7

.8

.8

1.01.21.11.11.41.61.81.91.71.8

1.92.32.62.63.13.32.83.03.23.7

3.84.64.86.89.66.18.29.8

10.213.3

9.89.8

10.79.1

10.111.010.29.6

11.911715.8

1 Consists of the following industries: Banking; credit agencies other than banks; security and commodity brokers, dealers, andservices; insurance carriers; regulated investment companies; small business investment companies; and real estate investment trusts.2 See Table B-81 for industry detail.3 Consists of transportation, communication, and electric, gas, and sanitary services.

Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning1948, and on the 1942 SIC prior to 1948.



TABLE B-81.—Corporate profits of manufacturing industries, 1929-79


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

1977-1IIIIIIV

19781IIIIIIV

19791IIIII

Corporate profits with inventory valuation adjustment

, Totalmanufac-

turing

5.2

- . 4

3.3

5.59.5

11.813.813.29.79.0

13.617.616.2

20.924.621.722.019.926.024.724.019.426.2

23.923.026.028.731.938.341.637.941.236.8

27.132.440.644.136.648.365.773.581.789.3

68.375.172.578.1

67.683.485.190.6

94.190.686.4

Nondurable goods

Total

26

0

17

24314.657595.26678

10 08.1

8.911.49.9

10.19.4

11.811.910.710.012.7

11.911.711.912.814.415.818.017.318.817.7

16.817.318.120.125.130.137.539.341.451.3

37.339.539.440.9

36.741.042.745.1

48.249.453.8

Foodandkin-dredprod-ucts

191.6

1.61.41.71.81.62.21.81.82.12.6

2.12.32.32.72.82.63.33.13.22.9

3.53.32.82.23.07.97.36.25.7

5.46.27.25.9

4.65.56.56.4

5.77.67.8

Chemi-calsand

alliedprod-ucts

171.8

2.32.82.32.22.23.02.82.82.53.4

3.13.13.23.63.94.54.84.25.04.6

3.94.25.05.85.15.88.07.67.9

7.87.87.37.4

7.47.67.88.9

9.08.07.1

Petro-leumandcoalprod-ucts

281.9

2.32.72.32.82.73.03.32.62.12.5

2.52.22.12.12.42.83.23.83.63.3

3.63.63.54.9

10.28.1

11.712.213.0

11.812.611.413.0

10.013.314.114.8

16.419.521.8

Other

372.8

2.74.43.63.32.93.64.13.63.34.2

4.24.04.34.55.35.86.76.27.06.9

5.86.26.87.26.88.2

10.613.414.7

12.312.913.514.7

14.814.714.415.1

17.114.217.1

and without capital consumption adjustment

Durable goods

Total

26

- 4

17

3164728 174452458758.1

12.013.211.711.910.514.312.813.39.3

13.5

12.011.314.115.917.522.623.520.622.419.2

10.315.122.524.011.518.328.234.240.338 0

31.035.533.137.2

30.942.342.445.5

46.041.232.6

Pri-marymetalindus-tries

161.5

2.33.11.92.51.72.93.03.01.92.3

2.11.51.61.92.43.13.62.72.01.4

.9

.51.62.04.92.92.01.32.5

1.31.8.6

1.6

.73.23.12.9

3.84.24.0


08.7

1.11.31.01.0.9

1.01.11.1

.91.1

.91.01.21.21.42.02.42.42.42.0

1.21.32.12.61.22.93.94.34.6

4.04.44.24.6

3.84.84.95.1

5.05.44.8

Machin-ery,

exceptelectri-

cal

121.3

1.62.32.31.91.71.72.12.01.42.1

1.81.82.32.43.13.84.44.04.13.6

2.72.73.94.51.54.35.67.18.3

6.16.87.48.1

6.19.47.89.8

8.27.67.9

Electricandelec-

tronicequip-ment

07.8

1.21.31.51.41.21.11.21.51.31.7

.1.31.31.51.51.62.53.02.92.82.2

1.11.82.92.6

.32.12.74.25.2

3.54.14.34.8

4.74.96.15.1

5.55.25.1

Motorvehicles

andequip-ment

142.1

3.12.42.42.62.14.12.22.6

.92.9

3.02.54.04.94.76.15.13.95.54.8

1.44.95.95.8

.21.77.49.18.9

8.910.48.58.7

7.09.69.59.3

11.47.4

- .5

Other

181.7

2.62.82.62.62.93.53.23.12.93.4

2.93.13.53.94.25.05.14.75.75.2

3.03.86.06.63.44.36.78.2

10.8

7.28.08.29.4

8.610.511.013.3

12.011.311.2



TABLE B-81.—Corporate profits of manufacturing industries, 1929-79—Continued


Year or quarter

1929

1933

1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979"

19771IIIIIIV

19781IIIIIIV

19791IIIII

Corporate profits before deduction of capital consumption

Totalmanufac-

turing

7.1

1.3

4.9

7.211.414.216.616.513.011.216.320.819.8

24.929.126.928.327.134.333.633.929.837.1

35.535.240.243.948.055.960.558.763.961.5

53.159.869.975.070.585.2

105.7119.9132.1145.1

112.2121.0120.3126.2

117.0133.7135.5142.2

147.2145.9143.0

Nondurable goods

Total

36

11

26

3441597175707993

118101

11.113.912.713.213.116.016.515.715.418.4

17.818.019.120.522.624.427.227.129.329.2

29.030.432.235.140.847.256.662.166.378.8

58.562.262.964.7

61.065.967.670.7

74.476.981.6

Foodandkin-dredprod-ucts

2220

2.12.02.32.32.32.92.52.63.03.6

3.23.43.64.04.24.04.94.74.94.8

5.65.55.14.85.7

10.910.610.09.9

9.09.9

11.19.8

8.69.5

10.610.7

10.112.212.5

Chemi-calsand

alliedprod-ucts

2021

2.73.22.82.83.03.93.83.83.64.6

4.44.54.85.35.76.56.86.37.37.1

6.67.18.29.08.69.7

12.512.813.6

12.813.012.512.8

12.813.213.514.9

15.214.513.5

Petro-leumandcoal

prod-ucts

3426

3.13.63.23.94.14.64.94.44.04.5

4.54.34.44.75.15.86.37.27.37.1

7.67.98.09.7

15.113.317.519.921.7

18.620.019.721.2

18.422.022.723.5

25.429.031.4

Other

4234

3.35.14.44.13.84.65.24.94.75.7

5.85.76.26.57.58.19.28.99.9

10.2

9.29.9

10.811.611.513.316.019.521.2

18.119.319.621.0

21.121.120.921.5

23.821.124.2

allowances, with inventory valuation adjustment

Durable goods

Total

34

2

23

3872849.5906033699097

13.715.314.215.014.118.317.218.214.418.7

17.717.221.123.325.531.433.331.634.632.3

24.129.437.639.929.738.049.157.965.866 3

53.758.857.461.4

56.067.967.971.6

72.769.161.4

Pri-marymetalindus-tries

1919

2.83.62.63.52.94.24.34.53.23.6

3.42.93.33.74.35.15.75.04.54.0

3.53.14.14.78.16.35.45.26.7

4.95.74.55.6

4.97.37.37.2

8.18.68.8


109

1.31.51.31.21.21.41.41.51.31.5

1.41.51.81.92.12.73.13.33.430

2.32.43.33.82.64.55.66.46.9

5.96.46.46.8

6.07.07.27.4

7.58.17.5

Machin-ery,

exceptelectri-

cal

15'16

1.92.62.72.32.22.32.82.72.22.9

2.72.83.43.54.35.25.85.76.057

5.25.46.87.64.97.99.7

11.613.2

10.411.412.112.6

10.814.212.814.9

13.313.013.4

Electricandelec-tronicequip-ment

089

1.41.51.71.61.51.51.62.01.82.2

1.81.92.12.22.33.33.93.94.137

2.83.75.14.93.05.05.87.89.0

6.97.67.98.6

8.48.99.98.9

9.59.49.4

Motorvehicles

andequip-ment

1623

3.32.72.73.02.54.62.93.31.63.7

4.03.55.26.36.38.07.56.48.175

3.87.38.48.33.14.8

10.713.213.3

12.814.112.813.0

11.614.313.813.5

16.012.04.6

Other

2221

3.03.33.33.33.74.44.24.24.24.8

4.44.65.35.76.27.17.37.38.68.4

6.57.59.9

10.68.19.5

12.013.716.8

12.713.613.714.9

14.316.216.919.8

18.417.917.7

Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning1948, and on the 1942 SIC prior to 1948.



TABLE B-82.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-79


Year or quarter

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

1970197119721973

1973 IV

New series19741975197619771978

1973 IV

19741IIIIIIV

19751IIIIIIV

1976

II '.IllIV

1977

IIIIIIV

19781IIIIIIV

19791IIIII

All manufacturing corporations

Sales/n_x\(net;

181.9245.0250.2265.9248.5

278.4307.3320.0305.3338.0

345.7356.4389.9412.7443.1

492.2554.2575.4631.9694.6

708.8751.4849.5

1,017.2

275.1

1,060.61,065.21,203.21,328.11,496.4

236.6

242.0269.4272.1277.0

247.1265.8271.0281.3

284.2307.6301.6309.8

311.5338.6331.7346.2

340.3377.5376.9401.8

406.2436.4437.5

Profits

Beforeincometaxes'

23.227.422.924.420.9

28.629.828.212.129.7

27.527.531.934.939.6

46.551.847.855.458.1

48.153.263.281.4

21.4

92.179.9

104.9115.1132.5

20.6

21.225.925.020.1

15.420.221.722.6

24.529.326.224.9

25.632.427.329.9

26.936.033.436.3

36.542.638.3

Afterincometaxes

12.911.910.711.311.2

15.116.215.412.716.3

15.215.317.719.523.2

27.530.929.032.133.2

28.631.336.548.1

13.0

58.749.164.570.481.1

13.2

13.516.315.513.4

9.312.413.214.2

14.818.116.015.6

15.619.716.718.4

16.022.120.422.6

22.626.824.8

Stock-holders'equity2

83.398.3

103.7108.2113.1

120.1131.6141.1147.4157.1

165.4172.6181.4189.7199.8

211.7230.3247.6265.9289.9

306.8320.9343.4374.1

386.4

395.0423.4462.7496.7539.4

368.0

379.0389.9402.7408.4

410.7420.2427.4435.5

446.5460.1468.9475.3

479.8492.9502.4511.7

518.7531.8546.3560.8

574.2592.0609.2


Sales

(net)

86.8116.8122.0137.9122.8

142.1159.5166.0148.6169.4

173.9175.2195.5209.0226.3

257.0291.7300.6335.5366.5

363.1382.5435.8527.3

140.1

529.0521.1589.6657.3760.7

122.7

120.3136.8134.8137.1

121.3132.4131.0136.3

137.8153.7146.2151.8

151.2169.5163.8172.7

170.1195.0189.7205.9

208.1223.3214.6

Profits

Beforeincometaxes*

12.915.412.914.011.4

16.516.515.811.415.8

14.013.616.718.521.2

26.229.225.730.631.5

23.026.533.643.6

10.8

41.135.350.757.969.6

10.1

9.512.610.58.6

7.09.39.1

10.0

11.314.812.212.4

12.516.913.015.5

13.619.817.019.1

18.821.716.4

Afterincometaxes

6.76.15.55.85.6

8.18.37.95.88.1

7.06.98.69.5

11.6

14.516.414.616.516.9

12.914.518.424.8

6.3

24.721.430.834.841.8

6.2

5.77.66.25.2

4.15.75.56.2

6.79.07.47.7

7.510.27.89.4

7.912.010.311.6

11.513.310.4


39.947.249.852.454.9

58.865.270.572.877.9

82.384.989.193.398.5

105.4115.2125.0135.6147.6

155.1160.6171.4188.7

194.7

196.0208.1224.3239.9261.5

185.8

189.4194.1199.9200.8

201.7207.3209.7213.7

216.7223.4227.1229.9

230.8238.4243.1247.5

250.3257.6265.2272.9

281.1290.1297.8


Sales(not\(net;

95.1128.1128.0128.0125.7

136.3147.8154.1156.7168.5

171.8181.2194.4203.6216.8

235.2262.4274.8296.4328.1

345.7368.9413.7489.9

135.0

531.6544.1613.7670.8735.7

113.9

121.7132.6137.3140.0

125.8133.314C.0145.0

146.3153.9155.4158.1

160.3169.1167.9173.5

170.3182.4187.2195.9

198.1213.0223.0

Profits

Beforeincometaxesl

10.312.110.010.49.6

12.113.212.411.313.9

13.513.915.116.418.3

20.322.622.024.826.6

25.226.729.637.8

10.6

51.044.654.357.262.9

10.5

11.713.314.511.5

8.410.912.712.6

13.214.514.012.6

13.015.514.314.3

13.316.216.417.1

17.721.021.8

Afterincometaxes

6.15.75.25.55.6

7.07.87.56.98.3

8.28.59.2

10.011.6

13.014.614.415.516.4

15.716.718.023.3

6.7

34.127.733.735.539.3

7.0

7.88.79.48.2

5.26.87.78.1

8.19.18.67.9

8.19.58.99.0

8.110.110.111.0

11.213.414.4


43.551.153.955.758.2

61.366.470.674.679.2

83.187.792.396.3

101.3

106.3115.1122.6130.3142.3

151.7160.3172.0185.4

191.7

199.0215.3238.4256.8277.9

182.1

189.6195.8202.8207.6

209.0212.9217.6221.8

229.8236.7241.7245.5

249.1254.5259.3264.2

268.4274.2281.1287.8

293.1301.9311.4

1 In the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.

2 Annual data are average equity for the year (using four end-of-quarter figures).Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, industry

classifications, sampling procedures, etc. For explanatory notes concerning compilation of the series, see "Quarterly Financial Report forManufacturing, Mining, and Trade Corporations, Federal Trade Commission.

Source: Federal Trade Commission.


TABLE B-83.—Relation of profits after taxes to stockholders' equity and to sales, all manufacturing

corporations, 1947-79

Year or quarter

Ratio of profits after income taxes (annualrate) to stockholders' equity—percent1

Allmanufacturingcorporations

Durablegoods

industries

NondurableRoods

industries

Profits after income taxes per dollar ofsales—cents

Allmanufacturingcorporations

Durablegoods

industries

Nondurablegoods

industries

1947.1948.1949.

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

1970197119721973

1973: IV

New series:

19741975197619771978

1973:IV

1974:IIIIllIV

1975:IIIIllIV

1976:|||IIIIV

1977:|II...IllIV

1978:|IIIllIV

1979:III

15.616.011.6

15.412.110.310.59.9

12.612.310.98.6

10.4

9.28.99.8

10.311.6

13.013.411.712.111.5

9.39.7

10.612.8

13.4

14.911.613.914.215.0

14.3

14.316.715.413.2

9.011.812.413.1

13.315.713.713.1

13.016.013.314.4

12.416.714.916.1

15.818.116.3

14.415.712.1

16.913.011.111.110.3

13.812.811.38.0

10.4

8.58.19.6

10.111.7

13.814.211.712.211.4

8.39.0

10.813.1

12.9

12.610.313.714.516.0

13.3

12.115.612.310.4

8.110.910.511.6

12.416.113.013.4

13.017.112.915.1

12.718.715.517.0

16.318.413.9

16.616.211.2

14.1U.29.79.99.6

11.411.810.69.2

10.4

9.89.69.9

10.411.5

12.212.711.811.911.5

10.310.310.512.6

14.0

17.112.914.213.814.2

15.3

16.417.818.515.8

10.012.814.114.5

14.215.414.312.9

13.015.013.713.7

12.114.814.415.3

15.317.818.5

6.77.05.8

7.14.84.34.34.5

5.45.34.84.24.8

4.44.34.54.75.2

5.65.65.05.14.8

4.04.14.34.7

4.7

5.54.65.45.35.4

5.6

5.66.05.74.8

3.74.74.95.1

5.25.95.35.0

5.05.85.05.3

4.75.95.45.6

5.66.15.7

6.77.16.4

7.75.34.54.24.6

5.75.24.83.94.8

4.03.94.44.55.1

5.75.64.84.94.6

3.53.84.24.7

4.5

4.74.15.25.35.5

5.0

4.85.54.63.8

3.44.34.24.5

4.95.85.15.1

5.06.04.85.4

4.76.25.45.6

5.56.04.8

6.76.85.4

6.54.54.14.34.4

5.15.34.94.44.9

4.84.74.74.95.4

5.55.65.35.25.0

4.54.54.44.8

5.0

6.45.15.55.35.3

6.1

6.46.66.85.9

4.15.15.55.6

5.65.95.65.0

5.05.65.35.2

4.85.65.45.6

5.66.36.5

1 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity at end ofquarter only.

Note.—Based on data in millions of dollars.See Note, Table B-82.Source: Federal Trade Commission.

301

2 9 4 - 2 8 9 0 - 8 0 - 2 0


TABLE B-84.—Relation of profits after taxes to stockholders' equity and to sales, all manufacturing

corporations, by industry group, 1978-79

Industry

All manufacturing corporations....


Stone, clay, and glass productsPrimary metal industries

Iron and steelNonferrous metals

Fabricated metal productsMachinery, except electricalElectrical and electronic equipmentTransportation equipment2

Motor vehicles and equipmentAircraft, guided missiles, and parts

Instruments and related productsOther durable manufacturing products


Food and kindred productsTobacco manufactures-Textile mill productsPaper and allied productsPrinting and publishingChemicals and allied products2

Industrial chemicals and syntheticsDrugs

Petroleum and coal productsRubber and miscellaneous plastics productsOther nondurable manufacturing products

Ratio of profits after income taxes (annualrate) to stockholders' equity—percent*

1978

ill

14.9

15.5

21.39.9

10.39.0

16.416.118.312.8

10.917.9

18.418.4

14.3

13.518.712.012.218.315.2

13.218.9

14.010.716.9

IV

16.1

17.0

17.811.1

9.813.4

15.419.117.917.8

17.819.0

18.318.2

15.3

15.318.311.714.121.116.3

17.217.0

14.88.3

14.3

1979

1

15.8

16.3

7.712.7

10.216.9

15.816.317.820.1

21.817.6

16.716.4

15.3

12.218.59.0

16.316.017.6

16.920.7

15.714.112.6

II

18.1

18.4

19.417.2

15.619.9

18.917.818.719.1

18.720.6

17.419.6

17.8

15.618.412.816.819.018.3

17.120.5

20.113.412.7

III

16.3

13.9

19.313.2

11.715.7

15.815.916.3

5.1

18.1

16.219.7

18.5

17.321.613.420.520.116.1

13.518.6

21.28.8

19.1

Profits after income taxes perdollar of sales—cents

1978

III

5.4

5.4

7.53.6

3.53.8

4.77.16.14.0

3.65.1

9.44.8

5.4

3.110.53.25.06.27.2

6.312.7

7.43.43.5

IV

5.6

5.6

6.63.9

3.25.5

4.48.05.84.8

4.95.1

9.44.7

5.6

3.59.63.15.77.07.7

8.111.3

7.62.53.0

1979

1

5.6

5.5

3.34.2

3.26.2

4.57.05.85.5

6.14.7

8.84.6

5.6

2.811.0

2.66.75.67.9

7.413.9

7.84.12.9

II

6.1

6.0

6.95.4

4.67.2

5.27.25.85.3

5.55.5

9.05.0

6.3

3.510.9

3.36.66.48.1

7.314.2

9.53.82.7

III

5.7

4.8

6.74.4

3.76.0

4.56.75.31.7

- . 25.2

8.45.2

6.5

3.913.13.78.26.87.3

6.012.7

9.02.73.7

1 Ratios based on equity at end of quarter.2 Includes other industries not shown separately.

Source: Federal Trade Commission.


TABLE B-85.—Determinants of business fixed investment, 1955-79

[Percent, except as noted]

Year

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979: First 3 quarters6

Ratio ofreal

invest-ment toreal GNP

9.39.79.78.78.7

9.08.78.98.89.3

10 310.810.310.310.6

10.29.8

10.010.610.7

9.49.39.6

10.010.4

Capacityutilization

rate inmanufac-turing1

87.186.483.775.281.9

80.277.481.683.585.6

89 691.186.987.186.2

79.378.483.587.683.8

72.979.581.984.486.0

Nonfinancial corporations

Cashflowas

per-cent

nfOI

GNP2

9.38.98.98.69.2

9.08.89.49.6

10.0

10.410.39.99.48.6

7.98.28.68.06.9

8.79.19.18.88.5

Rateof

returnon

depre-ciable

as-sets3

14.412.411.29.5

12.1

11.211.012.713.614.6

15 815.713.813.611.9

9.49.7

10.710.37.8

8.39.39.79.7

- 9 . 2

Rate ofreturn

onstock-

holders'equity4

6.25.55.03.94.9

5.04.55.96.47.6

939.18.07.87.1

4.65.46.69.28.8

5.44.86.37.17.7

Ratio ofmarket

value toreplace-

mentcost of

netassets5

0.922.918.849.869

1.041

1.0171.1411.0881.1971.287

13521.1981.2121.2521.116

.906

.9961.0681.008

.750

.712

.801

.729

.678

.654

1 Federal Reserve Board index.2 Cash flow calculated as after-tax profits plus capital consumption allowance plus inventory valuation adjustment.3 Profits before taxes plus capital consumption adjustment and inventory valuation adjustment plus net interest paid divided by the

stock of depreciable assets valued at current replacement cost.4After-tax profits corrected for inflation effects divided by net worth (physical capital component valued at current replacement

cost).5 Equity plus interest-bearing debt divided by current replacement cost of net assets.6 Seasonally adjusted.Sources: Department of Commerce (Bureau of Economic Analysis), Board of Governors of the Federal Reserve System, and Council of

Economic Advisers.

303


TABLE B-86.—Sources and uses of funds, nonfarm nonfinanciaI corporate business, 1946-79


Year or quarter

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

1977:

IIIII.IV

19781IIIIIIV

1979:I||III

Sources

Total

18.426.728.519.7

41.835.929.227.329.1

52.044.042.241.355.2

47.654.558.866.072.6

91.196.893.9

114.6118.6

104.4127.8161.6200.0191.3

150.0209.7242.3295.7

223.4221.3268.0256 4

259.6297.7303.5322.1

345.5324.1335.3

Internal'

7.812.618.819.3

17.819.721.221.123.5

28.828.730.429.635.0

34.735.341.644.550.1

56.160.561.362.361.7

58.968.680.883.875.7

106.8125.3139.9148.8

129.1138.5150.01421

135.0150.5153.8155.9

154.4159.0167.8

External

Total

10.614.19.8

.4

24.016.28.06.15.6

23.215.311.811.720.1

12.919.217.221.522.5

35.136.332.752.257.0

45.559.380.8

116.2115.6

43.284.4

102.3146.9

94.382.7

118.0114 3

124.5147.2149.7166.2

191.1165.1167.5

Credit market funds2

Total

6.98.36.53.1

8.110.59.55.66.5

10.212.812.210.512.2

11.912.512.812.214.8

20.625.429.831.838.6

40.745.258.273.082.1

37.960.779.994.7

63.271.583.8

101 1

94.792.790.4

101.1

118.6126.9122.4

Long-term

4.66.46.44.2

5.38.08.25.86.1

7.89.8

11.010.29.4

8.611.010.79.7

10.9

13.519.623.822.625.7

34.241.945.349.251.6

44.149.153.061.5

41.042.056.572 5

51.265.263.166.5

69.376.968.9

Short-term

2.32.0

.1- 1 . 1

2.82.51.3

- . 2.3

2.43.11.3

2̂ 8

3.31.52.12.63.9

7.25.85.99.2

12.9

6.53.3

12.923.830.6

- 6 . 311.626.933.2

22.229.527.328 6

43.527.527.334.6

49.350.053.6

Other

3.75.83.3

- 2 . 7

15.95.7

- 1 . 5.5

- . 8

13.12.5

- . 41.27.9

1.06.74.39.37.7

14.410.92.9

20.418.4

4.914.122.643.133.4

5.323.822.452.2

31.111.334.313 2

29.854.559.365.1

72.538.245.1

Uses

Total

17.125.324.917.9

39.937.229.127.727.7

49.241.139.438.751.7

40.650.454.959.164.1

82.290.587.5

105.3113.1

95.9119.6145.8185.6179.0

133.0183.3216.8274.3

205.5191.7237.0233 1

232.5281.3284.4298.9

321.4296.5310.2

Purchaseof

physicalassets 3

18.517.019.914.4

23.629.824.525.422.8

32.737.135.227.937.5

38.037.243.844.950.7

62.075.773.077.284.3

80.386.0

100.3123.3134.7

99.9139.0169.9195.9

158.8168.5180.2172 0

177.0203.2199.9203.6

213.0229.1228.6

Increasein

financialassets

- 1 . 48.45.03.5

16.47.44.62.34.9

16.54.04.2

10.814.2

2.713.211.114.213.4

20.214.814.528.228.8

15.633.545.662.344.4

33.244.346.978.3

46.723.156.8611

55.578.184.495.2

108.467.481.6

Discrep-ancy

(sourcesless uses)

1.31.43.61.9

1.9- 1 . 3

.1- . 51.4

2.82.92.92.53.5

7.04.13.96.98.5

9.06.36.49.25.6

8.58.2

15.814.412.2

16.926.425.5214

17.929.631.023 3

27.016.419.123.2

24.227.625.1

1 Undistributed profits (after inventory valuation and capital consumption adjustments), capital consumption allowances, and foreignbranch profits.

2 Maturity split is aproximate: Long-term consists of stocks, bonds, multi-family and commercial mortgages, and 40 percent of bankloans. Short-term consists of home mortgages, 60 percent of bank loans, commercial paper, finance company loans, bankers'acceptances, and U.S. Government loans.

3 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.Source: Board of Governors of the Federal Reserve System.


TABLE B-87.—Current assets and liabilities of U.S. corporations, 1939-79


End of yearor quarter

SEC series:5

1939 . . .

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

19601961

SEC series:5

196119621963196419651966196719681969

19701971197219731974

FTC-FRB series:7

19741975197619771978

19781IIIIIIV

1979:III

Total

54.5

60.372.983.693.897.297.4

108.1123.6133.0133.1

161.5179.1186.2190.6194.6224.0237.9244.7255.3277.3

289 0306.8

Cash1

10.8

13.113.917.621.621.621.722.825.025.326.5

28.130.030.831.133.434.634.834.937.436.3

37 241.1

Current

U.S.Govern-ment

securities2

2.2

2.04.0

10.116.420.921.115.314.114.816.8

19.720.719.921.519.223.519.118.618.822.8

20120.0

assets

Notesand

accountsreceiv-able

22.1

24.028.027.326.926.525.930.738.342.443.0

56.861.567.468.573.688.997.7

102.2109.7120.6

129 2139.2

Inven-tories

Othercurrentassets

All corporations

18.0

19.825.627.327.626.826.337.644.648.945.3

55.164.965.867.265.372.880.482.281.988.4

91895.2

1.4

1.51.41.31.31.42.41.71.61.61.4

1.72.12.42.43.14.25.96.77.59.1

10 611.4

Current liabilities

Total

i

30.0

32.840.747.351.651.745.851.961.564.460.7

79.892.696.198.999.7

121.0130.5133.1136.6153.1

160 4171.2

Notesand

accountspayable

21.9

23.226.426.026.326.825.731.637.639.337.5

48.354.959.359.561.776.183.986.690.4

101.0

106 8114.6

Othercurrentliabil-ities

8.1

9.614.321.325.324.920.120.323.925.023.3

31.637.836.839.438.045.046.646.546.252.0

53 656.6

Networkingcapital

24.5

27.532.336.342.145.651.656.262.168.672.4

81.686.590.191.894.9

103.0107.4111.6118.7124.2

128 6135.6

Currentratio3

1.817

1.8381.7911.7671.8181.8802.1272.0832.0102.0652.193

2.0241.9341.9381.9271.9521.8511.8231.8381.8691.811

18021.792

Nonfinancial corporations6

254.7269.7288.2305.6336.0364.0386.2426.5473.6

492.3529.6599.3697.8790.7

735.4759.0826.3900.9

1,028.1

925.0954.2992.6

1,028.1

1,078.61,110.2

34.837.139.840.542.841.945.548.247.9

50.253.359.066.371.1

73.282.187.394.3

103.5

88.891.391.6

103.5

102 4100.1

16.516.816.715.814.413.010.311.510.6

7.711.010.612.812.3

11.119.023.618.717.8

18.617.316.117.8

19.220.8

97.9103.2110.5119.9134.1146.6155.3173.9197.0

206.1221.1248.2288.5322.1

265.8272.1293.3325.0381.9

337.4356.0376.4381.9

405 3418.8

95.0100.5106.8113.1126.6142.8153.1166.0186.4

193.3200.4225.7263.9313.6

319.5315.9342.9375.6428.3

390.5399.3415.5428.3

452 6468.9

10.512.114.416.318.119.722.026.931.6

35.043.855.866.471.7

65.969.979.287.396.5

89.690.392.996.5

991101.4

123.7132.4145.5156.6178.8199.4211.3244.1287.8

304.9326.0375.6450.9530.4

453.4451.6492.7546.8662.2

574.2593.5626.3662.2

7019723.7

84.488.797.0

104.9121.5137.5147.1168.8199.2

211.3220.5282.9340.3402.3

269.8264.2282.0313.7375.1

325.2337.9356.2375.1

392 6410.5

39.343.748.551.757.361.964.275.388.6

93.6105.592.7

110.7128.1

183.6187.4210.6233.1287.1

249.0255.6270.0287.1

309 2313.1

131.0137.3142.7149.0157.2164.6174.9182.4185.7

187.4203.6223.7246.9260.3

282.0307.4333.6354.1365.9

350.7360.7366.3365.9

376.7386.5

2.0592.0371.9811.9511.8791.8251.8281.7471.646

1.6151.6251.5951.5481.491

1.6221.6811.6771.6481.552

1.6111.6081.5851.552

15371.534

1 Includes time certificates of deposit.2 Includes Federal agency issues.3 Total current assets divided by total current liabilities.4 Excludes banks, savings and loan associations, and insurance companies.5 Based on data from "Statistics of Income," Department of the Treasury.6 Excludes banks, savings and loan associations, insurance companies, investment companies, finance companies (personal and

commercial), real estate companies, and security and commodity brokers, dealers, and exchanges.7 Based on data from "Quarterly Financial Report for Manufacturing, Mining, and Trade Corporations," Federal Trade Commission. See

"Federal Reserve Bulletin," July 1978, for details regarding the series.Note.—SEC series not available after 1974.Sources: Board of Governors of the Federal Reserve System, Federal Trade Commission, and Securities and Exchange Commission.


TABLE B-88.—State and municipal and corporate securities offered, 1934-79


Year or quarter

Stateand

municipalsecurities

offeredfor cash(princi-

palamounts)

Corporate securities offered for cash

Totalcorporateofferings

Type of corporate security

Commonstock

Preferredstock

Bondsand

notes

Industry of corporate issuer

Manufac-turing *

Electric,gas, andwater2

Transpor-tation3 Communi-

cation Other

1934...

1939...

1940.1941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

197519761977...1978...

1978:

II.IllI V

1979:III...

939

1,128

1,238956524435661

7951,1572,3242,6902,907

3,5323,1894,4015,5586,969

5,9775,4466,9587,4497,681

7,2308,3608,55810,10710,544

11,14811,08914,28816,37411,460

17,76224,37022,94122,95322,824

29,32633,84545,06046,215

10,31612,75711,99211,152

9,72210,54610,097

397

2,164

2,6772,6671,0621,1703,202

6,0116,9006,5777,0786,052

6,3627,7419,5348,8989,516

10,24010,93912,88411,5589,748

10,15413,16510,70512,21113,957

14,78217,38524,01421,26125,997

37,45143,22939,70531,68037,729

52,53952,29051,83646,749

10,54412,71711,55011,938

11,94914,60412,459

87

1081103456163

397891779614736

8111,2121,3691,3261,213

2,1852,3012,5161,3342,027

1,6643,2941,3141,0112,679

1,4731,9011,9273,8857,640

7,0379,485

10,7077,6423,979

7,4148,3048,0477,941

1,5211,7071,8882,825

1,9161,4552,250

98

183167112124369

7581,127762492425

631838564489816

635636411571531

409450422343412

724580881636691

1,3903,6833,3713,3412,253

3,4592,8033,9162,832

5071,234456635

603607

1,491

372

1,979

2,3862,389917990

2,670

4,8554,8825,0365,9734,890

4,9205,6917,6017,0837,488

7,4208,0029,9579,6537,190

8,0819,4208,96910,85610,865

12,58514,90421,20616,74017,666

29,02330,06125,62820,70031,494

41,66641,18239,87935,976

8,5169,7769,2068,478

9,43012,5428,718

604

992848539510

1,061

2,0263,7012,7422,2261,414

1,2003,1224,0392,2542,268

2,9943,6474,2343,5152,073

2,1524,0773,2493,5143,046

5,4147,056

11,0696,9586,346

10,64711,6516,3984,832

10,408

18,65115,49613,75411,070

2,5623,1482,6992,661

2,0963,3083,668

133

1,271

1,2031,357

472477

1,422

2,3192,1583,2572,1872,320

2,6492,4552,6753,0293,713

2,4642,5293,9383,8043,258

2,8513,0322,8252,6772,760

2,9343,6664,9355,2936,715

11,00911,72111,31410,26912,837

15,89414,41413,70412,336

2,4333,8033,0493,051

3,3343,3733,007

176

186

32436648161609

1,454711286755800

813494992595778

893724824824967

718694567957982

7021,4941,6391,5641,779

1,2531,148860811

1,005

2,6353,6261,8011,763

230689489354

577803717

902571

399612760882720

1,1321,4191,4621,424717

1,0501,8341,3031,1052,189

9452,0031,9751,7752,172

5,2915,8404,8364,8723,930

4,4643,5624,4423,640

854424

1,1431,219

1,569779

1,103

103

15996

21109

211329293

1,008946

1,3001,0581,0682,1382,037

2,7572,6192,4261,9912,733

3,3833,5272,7613,9574,980

4,7873,1674,3965,6718,985

9,25212,86716,29810,8979,551

10,89515,19018,13917,944

4,4674,6514,1734,652

4,3716,3423,966

1 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous company issues.2 Prior to 1948, also includes telephone, street railway, and bus company issues.3 Prior to 1948, includes railroad issues only.Note.—Covers substantially all new issues of State, municipal, and corporate securities offered for cash sale in the United States in

amounts over $100,000 and with terms to maturity of more than 1 year; excludes notes issued exclusively to commercial banks,intercorporate transactions, and issues to be sold over an extended period, such as employee-purchase plans. Closed-end investmentcompany issues are included beginning 1973.

Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle" and "The Bond Buyer."


TABLE B-89.—Common stock prices and yields, 1949-79

Year or quarter

1949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978:JanFebMar

MayJune

JulyJUIJ

AugSeptOctNovDec

1979JanFebMar

MayJune

JulyJUIJ

AugSeptOctNovDec

Common stock prices1

New York Stock Exchange indexes (Dec. 31,

Composite

9.02

10.8713.0813.8113.6716.1921.5424.4023.6724.5630.73

30.0135.3733.4937.5143.7647 3946.1550.7755.3754.67

45.7254.2260.2957.4243.8445.7354.4653.6953.7058.32

49.8949 4149.50517554 4954.83

54.6158 5358.5856.4052.7453.69

55 7755 0856.1957.5056 2157.61

58 3861.1961.8959 2759.0261.75

1965=50) 2

Industrial

46.1851.9758.0057.44

48.0357.9265.7363.0848.0850.5260.4457.8658.2364.76

53 4552 8052.7755 4859.1459.63

59.3564 0764.2361.6057.5058.72

61.3160 3761.8963.6362 2163.57

64 2467.7169.1766.6866.4569.83

Transpor-tation

50.2653.5150.5846.96

32.1444.3550.1737.7431.8931.1039.5741.0943.5047.34

391538 9038.95411944.2144.19

44.7449 4550.1946.7041.8042.49

43 6942 2743.2245.9245 6047.54

48 8552.4852.2148 0947.6150.59

Utility

45.4145.4344.1942.80

37.2439.5338.4837.6929.7931.5036.9740.9239.2238.21

39 0939 0239.2639 6939.4739.41

39.2840 2039.8239.4437.8838.09

38.8339 2138.9438.6337 4838.44

38 8839.2638.3936 5836.5537.29

Finance

44.4549.8265.8570.49

60.0070.3878.3570.1249.6747.1452.9455.2556.6561.42

50.9150 6051.4455 0457.9658.31

57.9763 2863.2260.4254.9555.68

57.5956 0957.6559.5058 8061.87

64 4368.4067.21616460.6463.21

Dow-Jones

industrialaverage3

179.48

216.31257.64270.76275.97333.94442.72493.01475.71491.66632.12

618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72

753.19884.76950.71923.88759.37802.49974.92894.63820.23844.40

781.09763 57756.37794 66838.56840.26

831.71887 93878.64857.69804.29807.94

837.39825 18847.84864.96837 41838.65

836 95873.55878.50840 39815.78836.14

Standard& Poor'scomposiieindex(1941-

43 = 10) 4

15.23

18.4022.3424.5024.7329.6940.4946.6244.3846.2457.38

55.8566.2762.3869.8781.37881785.2691.9398.7097.84

83.2298.29109.20107.4382.8586.16102.0198.2096.02103.01

90.2588 9888.8292 7197 4197.66

97.19103 92103.86100.5894.7196.11

99 7198 23100.11102.0799 73101.73

102 71107.36108.60104 47103 66107.78

Common stock yields(percent)5

Dividend-priceratio6

6.59

6.576.135.805.804.954.084.094.353.973.23

3.472.983.373.173.013.003.403.203.073.24

3.833.142.843.064.474.313.774.625.285.45

5.325 495.625 425.205.19

5 254 934.975.115.455.39

5 285 435.365.355 585.53

5 505.305.315.565.715.53

Earnings-priceratio7

15.48

13.9911.829.4710.268.577.957.557.896.235.78

5.904.625.825.505.325.596.635.735.676.08

6.455.415.507.1211.599.158.9010.7912.03

12.24

11.76

11.28

12.83

13.09

13.58

13.27

1 Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.2 Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.4 Includes 500 stocks.5 Standard & Poor's series, based on 500 stocks in the composite index.6 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing

prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.7 Ratio of quarterly earnings after taxes (seasonally adjusted annual rate) to price index for last day of quarter. Annual ratios are

averages of quarterly ratios.Note.—All data relate to stocks listed on the New York Stock Exchange.Sources: New York Stock Exchange, Dow-Jones & Co., Inc., and Standard & Poor's Corporation.


TABLE B-90.—Business formation and business failures, 1929-79

Year or montn

192919333

19393

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

197019711972197319741975197619771978

1978:JanFebMar

May '.June


1979:JanFebMar

JuneJulyAugSeptOct

Indexof net

businessformation(1967 —100)

104 886.4

90 890.194 592 490 898.295.491.491.198.1

94.591.192.894.798.099.598.9100.0107.6113.5

107.1109.5115.5115.5111.2108.9117.2126.5132.9

Newbusinessincorpor-ations

(number)

132,916112,89796,34685,640

93,09283,77892,946102,706117 411139,915141,163137,112150,781193,067

182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267

264,209287,577316,601329,358319,149326,345375,766432,172477,827

Seasonally adjusted

133.6133.7130.5130.7131.0132.9

133.4133.0133.0135.5133.6133.5

131.4132.4132.2130.4130.1131.0132.3131.3133.1134.0

36,54739,25337,60238,49838,32039,796

39,40342,60541,82741,94541,56842,461

42,84742,06142,20642,76343,74142,63445,04943,21344,96146,346

Business failures1

Businessfailurerate2

103 9100.369.663.054.444.616.46.54.25.2

14.320.434.4

34.330.728.733.242 041.648.051.755.951.8

57.064.460.856.353.253.351.649.038.637.3

43.841.738.336.438.442.634.828.423.9

21.624.024.624.123.421.9

22.029.822.622.525.226.4

27.424.427.930.829.126.227.5

Number of failures

Total

22,90919,85914,76813,61911,8489,4053,2211,222809

1,1293,4745,2509,246

9,1628,0587,6118,86211,08610,96912,68613,73914,96414,053

15,44517,07515,78214,37413,50113,51413,06112,3649,6369,154

10,74810,3269,5669,3459,91511,4329,6287,9196,619

504559666594583519

459675458511556535

642545732734708602565

Liability size class

Under$100,000

2216518,88014,54113,40011,6859,2823,1551,176759

1,0033,1034,8538,708

8,7467,6267,0818,07510 22610,11311,61512,54713,49912,707

13,65015,00613,77212,19211,34611,34010,83310,1447,8297,192

8,0197,6117,0406,6276,7337,5046,1764,8613,712

316319388335337301

244347266283296280

355291379397380307285

$100,000and over

744979111219163123664650126371397538

416432530787860856

1,0711,1921,4651,346

1,7952,0692,0102,1822,1552,1742,2282,2201,8071,962

2,7292,7152,5262,7183,1823,9283,4523,0582,907

188240278259246218

215328192228260255

287254353337328295280

Amount of current liabilities(millions of dollars)

Total

483 3457.5182.5166.7136.1100.845.331.730.267.3

204.6234.6308.1

248.3259.5283.3394.2462 6449.4562.7615.3728.3692.8

938.61,090.11,213.61,352.61,329.21,321.71,385.71,265.2941.0

1,142.1

1,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.0

168.3205.0324.4203.0160.4178.8

231.8206.4127.0475.3178.9196.5

182.2177.1187.8242.8200.4273.2212.2

Liability size class

Under$100,000

2615215.5132.9119.9100.780.330.214.511.415.763.793.9161.4

151.2131.6131.9167.52114206.4239.8267.1297.6278.9

327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3

269.3271.3258.8235.6256.9298.6257.8208.3164.7

14.314.118.215.514.712.3

10.715.911.412.412.812.6

15.112.818.016,816.813.813.9

$100,000and over

2218242.049.746.835.420.515.117.118.851.6140.9140.7146.7

97.1128.0151.4226.62512243.0322.9348.2430.7413.9

611.4720.0867.1

1,031.61,015.61,000.01,064.1967.3699.9910.8

1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.3

154.0190.9306.2187.5145.7166.5

221.2190.5115.6463.0166.1183.9

167.1164.3169.8226.0183.7259.4198.3

1 Commercial and industrial failures only. Excludes failures of banks and railroads and, beginning 1933, of real estate, insurance,holding, and financial companies, steamship lines, travel agencies, etc.

2 Failure rate per 10,000 listed enterprises.3 Series revised; not strictly comparable with earlier data.Sources: Department of Commerce (Bureau of Economic Analysis) and Dun & Bradstreet, Inc.


AGRICULTURE

TABLE B-91.—Income of farm people and farmers, 1929-79


Year or QUdrier

192919331939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

197019711972197319741975197619771978

19771IIIIIIV

19781IIIIIIV

19791IIIll

Personal income received by

total farm population

Fromall

sources

7476

10114.116.516.617.220.021.123.819.5

20.322.722.019.718.317.517.617.519.217.5

18.419.019.720.019.822.623.822.924.126.9

27.528.834.648.945.244.540.342.954.0

Fromfarm

sources *

484868

10.112.112.212.815.515.818.013.3

14.116.115.313.312.411.311.110.812.510.4

11.111.411.411.010.012.012.611.111.312.9

13.013.516.929.223.421.916.818.025.2

Fromnonfarmsources2

2628333.94.44.44.44.65.35.86.26.36.56.76.45.96.26.66.66.77.17.27.68.39.09.7

10.611.211.712.813.9

14.515.317.819.721.811123.524.928.8

Income received from farming3

GrOSS inhume UCIUIC iiiveuiuiy

Total4

13.97.1

10.6

11.113.918.823.424.425.829.534.134.731.6

32.337.136.835.133.733.334.434.238.137.9

38.540.241.742.743.145.550.649.951.756.3

58.660.670.195.5

100.096.9

104.2107.5124.9

107.0104.5103.4115.0

119.8124.3122.2133.4

141.9144 3143.2

adjustment

Cash receipts from1

Total

11.35.37.98.4

11.115.619.620.521.724.829.630.227.8

28.532.932.531.029.829.530.429.733.533.6

34.235.236.537.537.339.443.442.844.248.2

50.552.961.287.192.488.294.895.7

111.0

96.893.892.199.9

106.2111.0109.0118.0

128.9130 7129.9

idincuug:.

stockand

prod-ucts

6.22.84.54.96.59.0

11.511.412.013.816.517.115.4

16.119.618.216.916.316.016.417.419.218.9

19.019.520.220.019.921.925.024.425.528.6

29.630.635.745.941.443.046.147.459.0

46.445.747.150.6

53.958.360.463.4

70.068 265.0

>

Crops

5.12.53.33.54.66.58.19.29.7

11.013.113.112.4

12.413.214.314.113.613.514.012.314.214.7

15.315.716.317.417.217.518.418.418.719.6

21.022.325.541.151.145.148.748.252.1

50.448.144.949.4

52.452.748.654.6

58.962 564.9

Produc-tionex-

penses

7.74.46.36.97.8

10.011.612.313.114.517.018.818.0

19.522.322.821.521.822.222.723.725.827.2

27.428.630.331.631.833.736.538.239.542.1

44.447.452.365.672.275.983.188.898.1

86.787.588.592.4

95.097.097.4

103.0

109.0112 0116.0

Not trnei TO i at in

operators afterinventory

adjustment5

Currentdollars

6.22.64.44.56.59.9

11.711.712.315.115.417.712.8

13.615.915.013.012.411.311.311.113.210.7

11.512.012.111.810.512.914.012.312.314.3

14.214.618.733.326.124.518.719.827.9

19.318.016.924.8

25.827.826.331.6

34.934 830.7

1967dollars6

12.06.6

10.6

10.714.720.222.722.222.825.823.024.517.9

18.920.518.816.215.414.113.813.115.212.3

13.012.313.312.811.313.714.412.311.813.4

12.212.114.925.117.715.211.010.914.3

10.910.09.2

13.4

13.714.413.315.6

16.816 313.9

1 Net income to farm operators after inventory adjustment, less net income of nonresident operators, plus wages and salaries andother labor income of farm resident workers, less contributions of farm resident operators and workers to social insurance.2 Estimated income of farm residents from nonfarm sources; based on survey benchmarks with extrapolations to current year.3 Includes government payments.4 Also includes government payments and nonmoney income and other farm income furnished by farms, not shown separately.5 Includes net value of physical change in inventory of crops and livestock valued at average prices for the year.

6 Income in current dollars divided by the consumer price index (Department of Labor).Sources: Department of Agriculture and Department of Labor.


TABLE B-92.— Farm output and productivity indexes, 1929-79

[1967=100]

Year

1929

1933

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 P

Farm output

Total1

53

51

58

6062706971

7071697674

7476797980

8282818788

9191929695

9895100102102

101110110112106

114117121121129

Crops2

Total3

62

55

64

6768767175

7377738379

7678818179

8282808989

9391929693

9995100103104

100112113119110

121121130131144

Feedgrains

48

44

51

5256645962

6065507263

6459636164

6868748084

8778798675

88891009599

8911611211593

114120126135145

Foodgrains

52

36

48

5260635467

7072858170

6564837667

6366629173

8780747786

888810010698

91107102114120

142141132123143

Oilcrops

11

8

25

2929404136

3634394745

4647464749

5360586964

6877788181

9597100114116

117121131155127

153132175183219

Live-stockandprod-ucts2

53

57

59

6064717773

7371706872

7578787982

8484838488

8791929597

9597100100101

105106107105106

101105106106107

Productivity indicators

Farmoutputperunitof

totalinput

52

53

59

6062686667

6871687471

7171747576

7880808787

9091929695

10097100102103

102110110111106

115115117117124

Croppro-

ductionper

acre4

56

50

60

6263706468

6771677570

6970737271

7476778685

8992959795

10097100105106

104112115116104

112111117121130

Farm output per hour

Total

16

16

19

2021242424

2627283132

3435383942

4447515759

6567717781

8992100106110

115128136130136

152162173183184

Crops

16

15

20

2123252425

2729293333

3635394042

4548536161

6668727779

9094100106108

111126135138128

142146158166171

1 iwoLive-stockandprod-ucts

26

25

27

2728303130

3132333435

3739404143

4648505458

6266717782

8693100105112

121128137144156

160178189204195

1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.

2 Gross production.3 Includes items not included in groups shown.4 Computed from variable weights for individual crops produced each year.Source: Department of Agriculture.


TABLE B-93.—Farm input use, selected inputs, 1929-79

Year

1929

1933

1939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979"

Farm population/ Anr;i I \ i(April l ) 1

Num-horDel

(thou-sands)

30,580

32,393

30,840

30,54730,11828,91426,18624,815

24,42025,40325,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,31313,36712,954

12,36311,59510,87510,45410,307

9,7129,4259,6109,4729,264

8,8648,2537,806

78,005

Aspercentof totalpopula-tion2

25.1

25.8

23.5

23.122.621.419.217.9

17.518.017.916.616.2

15.214.213.912.511.7

11.511.110.39.89.4

8.78.17.77.16.8

6.45.95.55.25.1

4.74.64.64.54.4

4.23.83.63.7

Farm employment

(tnousanas

Total

12,763

12,739

11,338

10,97910,66910,50410,44610,219

10,00010,29510,38210,3639,964

9,9269,5469,1498,8648,651

8,3817,8527,6007,5037,342

7,0576,9196,7006,5186,110

5,6105,2144,9034,7494,596

4,5234,4364,3734,3374,389

4,3424,3744,1553,9373,944

Fam-

work-ers

9,360

9,874

8,611

8,3008.0177,9498,0107,988

7,8818,1068,1158,0267,712

7,5977,3107,0056,7756,570

6,3455,9005,6605,5215,390

5,1725,0294,8734,7384,506

4,1283,8543,6503,5353,419

3,3483,2753,2283,1693,075

3,0262,9972,8592,6812,525

Hiredwork-ers

3,403

2,865

2,727

2,6792,6522,5552,4362,231

2,1192,1892,2672,3372,252

2,3292,2362,1442,0892,081

2,0361,9521,9401,9821,952

1,8851,8901,8271,7801,604

1,4821,3601,2531,2131,176

1,1751,1611,1461,1681,314

1,3171,3771,2961,2561,418

Cropshar-

vested(mil-

lions ofacres)4

365

340

331

341344348357362

354352355356360

345344349348346

340324324324324

324302295298298

298294306300290

293305294321328

336337344336348

Selected indexes o

Tntal10131

102

96

98

100100103104105

103101101103105

104107107106105

105103101100102

101100100100100

989810010099

100100100101100

100103104103103

Farmlabor

329

321

294

293288296292289

271260246240231

217218208200192

185174162156151

145139133129122

1101031009793

8986828078

7673716766

Farmreales-tate

103

97

102

1031021009898

98102103103104

105105105105105

105102102100101

100100100100100

99991009998

10199989795

9697999898

input use

Me-chanicalpowerand

machin-ery

38

32

40

4244515557

5857647280

8490949696

9798979798

9794949393

9496100101101

100102101105109

113117118120121

(1967 =

Agri-culturalchemi-cals5

10

6

11

1314151720

2021232527

2932353637

3941414349

4953586571

7585100105111

115124131136140

127145151145151

LOO)

Feed,cooHSeed,

andliwolive-

stockpur-

chases 6

31

28

41

4245485252

5453555661

6367696971

7275747984

8488909092

939710097101

104111113116107

101110111116116

xFarm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms,regardless of occupation. See also footnote 7.

2 Total population of United States as of July 1, including Armed Forces overseas.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those on

agricultural employment by the Department of Labor (see Table B-29) because of differences in the method of approach in concepts ofemployment, and in time of month for which the data are collected. See monthly report on "Farm Labor."

4 Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.5 Fertilizer, lime, and pesticides.6 Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm, farm population is 6,501,000 in 1978 and 6,200,000 (preliminary) in 1979.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).


TABLE B-94.—Indexes of prices received and prices paid by farmers, 1940-79

[1967 = 100]

Year or month

1940 ....194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

1978:JanFebMarMay '.June

JulyAugSeptOctNovDec . ...

1979:JanFebMar

MayJune


Prices received by

Allfarmprod-ucts

40496477798394110115100

1031211151029893929410096

959698979598106100102107

110113125179192185186183210241

187193200208215217

216211217218216222

232241246244246244

244237241236238239

farmers

Crops

404864838890102117113100

1031181191071081031041009998

9910110310710610310610010097

100108114175224201197192204223

188190197208212216

213204205202202205

209216214212220233

240235225224223220

.Live-ctnrbSTOCK

andprod-ucts

4050627271778810511599

10212211197908582899993

929193898694106100104117

118118136183165172111175217257

186197204209219219

218218111232230239

252264274111269255

250239255248251256

Prices paid by farmers

Allcommod-

ities,services,interest,taxes,andwageratesl

36394450535661707673

75828481818181848687

88889091929499100103108

112118125144164180192202219249

209211214216219220

220221223224225226

234238243246248249

251251254256256259

Production items

Total2

43455257606167788783

86959589898787909293

929394959496100100100104

108113121146166182193200216247

203206211214217218

218217220222222225

230235243246247248

250249253255255258

Tractorsandself-pro-pelledmachin-ery

9296100104111

116122128137161195217238259289

245245251251251260

260260111111111111

111111280280280293

293293302302302302

Fertil-izer

1031021009487

889194102167217185181180196

179179181181181181

181181181179179179

179179187187194194

194194194211211111

CiialcrucIS

andener-gy

9898100101102

104107108116159111187202212276

209209209209209211

213214215215217220

227231237248258271

287298308314318324

Wagerates3

15182331384246495251

5055596160616366687274767880828693100108119

128134142155178192210226242265

244244244246246246

243243243237237237

257257257269269269

266266266268268268

Adden-dum:

Averagefarmreal

estatevalueper

acre4

19192123262932363941

40465152515355586166

68697377828693100107113

117122132150187213242283308351

308

332

351

384

1 Includes items used for family living, not shown separately.2 Includes other items not shown separately.3 Seasonally adjusted; annual data are averages of seasonally adjusted data.4 Average for 48 States. Annual data are for March 1 of each year through 1975 and for February 1 beginning 1976. Monthly data

are for first of month.Source: Department of Agriculture.


TABLE B-95.—U.S. exports and imports of agricultural commodities, 1940-79


Year

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

Jan-Sept:19781979

Exports

Total1

0.5.7

1.22.12.1

2.33.14.03.53.6

2.94.03.42.83.1

3.24.24.53.94.0

4.85.05.05.66.3

6.26.96.46.36.0

7.37.79.4

17.722.0

21.923.023.629.4

21.223.8

Feedgrains

(

4

444

4

3../1I3

.2

.3

.3

.3

.2

.3

.4

.3

.5

.6

.5

.5

.8

.8

.9

1.11.31.1.9.9

1.11.01.53.54.6

5.26.04.95.9

4.55.4

Foodgrains2

(4)0.1(4)

.1

A.1

141.51.1

.61.11.1.7.5

.61.01.0.8.9

1.21.41.31.51.7

1.41.81.51.41.2

1.41.31.84.75.4

6.24.73.65.5

4.14.3

Oil-seedsand

prod-ucts

PI£j

PI.2

.2

.3

.2

.2

.3

.4

.5

.5

.4

.6

.6

.6

.7

.81.0

1.21.21.31.31.3

1.92.22.44.35.7

4.55.16.68.2

5.56.0

Cot-ton

0.2.1.1.2.1

.3

.54.5.9

1.01.1.9.5.8

.5

.71.0.7.4

1.0.9.5.6.7

.5

.4

.5

.5

.3

.4

.6

.5

.91.3

1.01.01.51.7

1.41.6

To-bacco

(4)0.1

.1

.2

.1

.2

.43.2

.3

.3

.2

.3

.4

.3

.4

.4

.3

.4

.4

.4

.4

.4

.4

.5

.5

.5

.6

.5

.5

.7

.7

.9

.9

.91.11.4

.8

.7

Ani-malsand

prod-ucts

0.1.3.8

1.21.3

.9

.97.5.4

.3

.5

.3

.4

.5

.6

.7

.7

.5

.6

.6

.6

.6

.7

.8

.8

.7

.7

.7

.8

.91.01.11.61.8

1.72.42.73.0

1.82.4

Imports

Total*

1.31.71.31.51.8

1.72.3283.12.9

4.05.24.54.24.0

4.04.04.03.94.1

3.83.73.94.04.1

4.14.54.55.05.0

5.85.86.58.41.2

9.311.013.414.8

1.912.3

Crops,fruits,

andvege-

tables3

ft( 1.1.21

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.3

.3

.3

.4

.4

.5

.5

.5

.6

.7

.8

.8

.8

.91.21.5

1.51.6

Ani-malsand

prod-ucts

0.2.3.5.4.3

.4

.44.6.4

.71.1.7.6.5

.5

.4

.5

.7

.8

.6

.7

.9

.9

.8

.91.21.11.31.4

1.61.51.82.62.2

1.82.32.33.1

2.22.8

Cof-fee

0.1.2.2.3.3

.3

.56.7.8

1.11.41.41.51.5

1.41.41.41.21.1

1.01.01.01.01.2

1.11.11.01.2.9

1.21.21.31.71.6

1.72.94.24.0

3.02.9

Cocoabeansand

prod-ucts

(4)(4)(4)(4)(4)

(4)0.1

.2

.1

.2

.2

.2

.2

.3

.2

.2

.2

.2

.2

.2

.2

.2

.2

.2

.1

.2

.2

.2

.3

.2

.2

.3

.5

.5

.61.01.4

1.0.9

Agri-culturaltrade

balance

- 0 . 8- 1 . 0- . 1

.6

.6

.81.2.4.7

-1 .1- 1 . 2-1 .1- 1 . 4- . 9

- . 8.2.5

-"i1.01.31.11.62.2

2.12.41.91.2.9

1.51.92.99.3

11.8

12.612.01.2

14.8

1.311.5

1 Total includes items not shown separately.2 Rice, wheat, and wheat flour.3 Includes nuts, fruits, and vegetable preparations.4 Less than $50 million.Note.—Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural

duties, ocean freight, and marine insurance.Source: Department of Agriculture.


TABLE B-96.—Balance sheet of the farming sector, 1929-80


Beginning ofyear

Assets

Total Realestate

Live-stock »

Other physical assets

Machin-ery andmotor

vehicles

Crops2

House-hold

equip-mentand

furnish-ings

Financial assets

Depos-its

andcur-

rency

U.S.savingsbonds

Invest-ments incooper-atives

Claims

Total estatedebt

Otherdebt

Propri-etors'

equities

1929

1933

1939...

1940...1941..1942...1943...1944...

1945...1946...1947...1948...1949...

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

53.054.862.973.684.0

93.8102.9115.9127.4134.6

134.5154.3170.1167.6164.6

168.8173.6182.8191.3208.4

210.2210.8219.3227.7235.8

243.8260.8274.2288.0302.8

314.9326.0351.8394.8478.5

517.6580.2655.8713.0820.2

1980 950.0

48.0

30.8

• 34.1

33.634.437.541.648.2

53.961.068.573.776.6

77.689.598.4100.198.7

102.2107.5115.7121.8131.1

137.2138.5144.5150.2158.6

167.5179.2189.1199.7209.2

215.8223.2239.6267.3327.7

368.5416.9483.8525.8599.5

696.0

6.6

3.0

5.1

5.15.37.19.69.7

9.09.7

11.913.214.4

12.917.119.514.811.8

11.210.611.013.917.7

15.315.616.417.315.9

14.517.619.018.920.2

23.523.727.334.142.4

24.629.529.132.051.3

64.0

3.2

2.5

3.2

3.13.34.04.95.4

6.55.45.37.4

10.1

12.214.116.717.418.4

18.619.320.220.121.8

22.722.222.523.523.9

24.826.027.429.831.3

32.334.436.639.344.2

55.765.071.977.784.3

97.0

9.8

2.73.03.95.16.1

6.76.37.19.08.5

7.67.98.89.09.2

9.68.38.37.69.3

7.78.08.89.39.8

9.29.7

10.09.6

10.6

10.910.711.814.522.1

23.321.322.024.927.4

30.5

8.5

6.8

4.24.14.84.84.7

5.25.57.28.18.9

8.49.6

10.19.69.5

9.710.09.69.69.4

9.28.78.9

8.48.48.38.89.4

9.610.010.811.912.3

14.014.214.416.419.2

22.0

3.23.54.25.56.6

7.99.4

10.29.99.6

9.19.19.49.49.4

9.49.59.49.5

10.0

9.28.78.89.29.2

9.610.010.310.911.5

11.912.413.214.014.9

15.115.616.016.316.8

17.2

0.3.3.5

1.12.2

3.44.24.24.44.6

4.74.74.74.64.7

5.05.25.15.15.2

4.74.64.54.44.2

4.24.03.93.83.8

3.73.63.74.04.1

4.34.44.44.44.8

5.0

0.8.9.9

1.01.1

1.21.41.51.71.9

2.02.32.52.72.9

3.13.23.53.73.9

4.24.54.95.05.4

5.65.96.26.56.8

7.28.08.89.7

10.8

12.113.314.215.516.9

18.3

53.054.862.973.684.0

93.8102.9115.9127.4134.6

134.5154.3170.1167.6164.6

168.8173.6182.8191.3208.4

210.2210.8219.3227.7235.8

243.8260.8274.2288.0302.8

314.9326.0351.8394.8478.5

517.6580.2655.8713.0820.2

950.0

6.66.56.45.95.4

4.94.74.95.15.3

5.66.16.77.27.7

8.29.09.8

10.411.1

12.012.813.815.116.8

18.921.223.125.127.4

29.230.332.235.741.3

46.351.156.663.772.3

83.1

3.43.94.14.03.5

3.43.23.64.26.1

6.86.98.08.99.2

9.49.89.5

10.012.5

12.813.414.716.317.6

17.919.521.022.323.1

23.824.226.929.632.8

35.539.746.155.665.2

74.7

43.044.452.463.775.1

85.595.0

107.4118.1123.2

122.1141.3155.4151.5147.7

151.2154.8163.5170.9184.8

185.4184.6190.8196.3201.4

207.0220.1230.1240.6252.3

261.9271.5292.7329.5404.4

435.8489.4553.1593.7682.7

792.2

1 Beginning with 1961, horses and mules are excluded.2 Includes all crops held on farms and crops held off farms by farmers as security for Commodity Credit Corporation loans. The latter

on January 1, 1980 totaled approximately $1.0 billion.

Note.—Beginning 1960, data include Alaska and Hawaii.

Source: Department of Agriculture.


INTERNATIONAL STATISTICS

TABLE B-97.— Exchange rates, 1973-79

[Cents per unit of foreign currency, except as noted]

Year and month

1973:MarJuneSeptDec

1Q74ly/'j

MarJuneSeptDec

1975:MarJuneSeptDec

1Q7Ciy/oMarJuneSeptDec

1977MarJuneSeptDec

1978:MarJuneSeptDec

1979MarJuneSeptDec

1973:MarJuneSeptDec

MarJuneSeptDec

1975MarJuneSeptDec

1976MarJuneSeptDec

1977:MarJuneSeptDec

MarJuneSeptDec

1979:MarJuneSeptDec

Belgian franc

2.53772.66432.70892.4726

2.50402.63662.53642.7158

2.90832.86032.54852.5311

2.54802.52202.60462.7483

2.72582.77132.79102.9608

3.15893.05903.22073.3637

3.39713.30483.46843.5423

Netherlandsguilder

34.83436.58238.54235.615

36.35437.75736.87039.331

42.12441.50237.22937.234

37.14936.52438.39040.240

40 07940.32640.60442.955

45.99444.71646.73349.120

49.80148.37450.63552.092

Canadiandollar

100.333100.16099.181

100.058

102.877103.481101.384101.192

99.95497.42697.43798.627

101.431102,712102.55798.204

95.12594.54993.16891.132

88.82389.14385.73984.763

85.18785.29685.81485.471

Swedish krona

22.58223.74623.76922.026

21.91522.88522.33323.897

25.48125.53222.50122.685

22.70222.47522.99824.051

23 72622.62520.60221.044

21.69321.69022.59222.808

22.90123.02823.86023.935

French franc

22.19123.47223.46621.757

20.74220.40820.83122.109

23.80424.97122.36722.428

21.65721.10920.33420.055

20.07520.24020.31420.844

21.25621.84122.90923.178

23.32822.91423.82624.614

Swiss franc

31.08432.75733.14631.252

32.49033.44933.37138.442

40.27340.08636.90537.970

38.98040.48440.43140.823

39 20940.17042.11548.168

52.69353.04663.76559.703

59.47358.88462.08762.542

German mark

35.54838.78641.24637.629

38.21139.60337.58040.816

43.12042.72638.19138.144

39.06438.79740.16941.965

41.81242.45343.03446.499

49.18147.98450.77853.217

53.75453.08455.75857.671

UnitedKingdom

pound

247.24257.62241.83231.74

234.06239.02231.65232.94

241.80228.03208.35202.21

194.28176.40172.72167.84

17174171.91174.31185.46

190.55183.72195.95198.61

203.78211.19219.66220.07

Italian lira

0.17600.16792.17691.15458

.15687

.15379

.15103

.15179

.15842

.15982

.14740

.14645

.12113

.11780

.11837

.11521

.11276

.11295

.11318

.11416

.11692

.11634

.12050

.11863

.11888

.11828

.12326

.12329

Japanese yen

0.38190.37808.37668.35692

.35454

.35340

.33439

.33288

.34731

.34077

.33345

.32715

.33276

.33424

.34800

.33933

.35687

.36652

.37486

.41491

.43148

.46744

.52656

.51038

.48470

.45750

.44963

.41613

United States dollar(March 1973 = 100)

Multilateraltrade-weighted

average

100.096.595.1

101.5

101.6100.0102.998.6

93.994.8

103.0103.5

105.1107.1105.7105.3

105 2104.4103.898.4

94.894.789.588.5

88.489.686.786.3

Bilateral trade-weightedaverage

100.098.598.3

102.2

100.999.9

103.0101.0

98.5100.0104.9105.0

104.6105.2104.0105.8

106.2105.6105.4101.9

100.399.296.096.3

96.798.096.597.5



TABLE B-98.— U.S. international transactions, 1946-79

[Millions of dollars; quarterly data seasonally adjusted]

Year orquarter

Merchandise12

Exports ImportsNet

balance

Investment income3

ceiptsPayments Net

Netmilitarytransac-

tions

Nettraveland

transpor-tation

receipts

Otherserv-ices,net3

Balanceon goods

andserv-

ices1 4

Remit-tances,

pensions,and otherunilateral

trans-fers1

Balanceon

currentaccount

1946194719481949

1950....1951....1952...1953...1954....

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

1977:IIIIllI V

1978:III

IV

1979:I

Ill"

11,76416,09713,26512,213

10,20314,24313,44912,41212,929

14,42417,55619,56216,41416,458

19,65020,10820,78122,27225,501

26,46129,31030,66633,62636,414

42,46943,31949,38171,41098,306

107,088114,745120,816142,052

29,51831,07530,55829,665

30,71235,39636,53239,412

41,34842,79247,337

-5,067-5,973-7,557-6,874

-9,081-11,176-10,838-10,975-10,353

-11,527-12,803-13,291-12,952-15,310

-14,758-14,537-16,260-17,048-18,700

-21,510-25,493-26,866-32,991-35,807

-39,866-45,579-55,797-70,499

-103,649

-98,041-124,051-151,689-175,822

-37,185-37,639-37,996-38,869

-42,629-43,329-44,481-45,383

-47,463-50,508-54,619

6,69710,1245,7085,339

1,1223,0672,6111,4372,576

2,8974,7536,2713,4621,148

4,8925,5714,5215,2246,801

4,9513,8173,800

635607

2,603-2,260-6,416

911-5,343

9,047-9,306

-30,873-33,770

-7,667-6,564-7,438-9,204

-11,917-7,933-7,949-5,971

-6,115-7,716-7,282

7721,1021,9211,831

2,0682,6332,7512,7362,929

3,4063,8374,1803,7904,132

4,6164,9985,6196,1576,823

7,4367,5268,0219,368

10,912

11,74612,70614,76421,80827,587

25,35129,28632,58743,465

7,7758,0808,4208,312

9,77610,25610,52612,907

14,11515,40417,506

- 2 1 2- 2 4 5-437- 4 7 6

- 5 5 9- 5 8 3- 5 5 5- 6 2 4- 5 8 2

-676- 7 3 5- 7 9 6- 8 2 5

-1,061

-1,237-1,245-1,324-1,561-1,784

-2,088-2,481-2,747-3,378-4,869

-5,516-5,436-6,544-9,655

-12,084

-12,564-13,311-14,598-21,820

-3,192-3,519-3,686-4,201

- 4 , 5 3 7- 5 , 4 0 2- 5 , 5 7 4- 6 , 3 0 8

-7,251-7,939-8,712

560857

1,4841,355

1,5092,0502,1962,1122,347

2,7303,1023,3842,9653,071

3,3793,7534,2954,5965,039

5,3485,0455,2745,9906,043

6,2307,2708,220

12,15315,503

12,78715,97517,98921,645

4,5834,5614,7344,111

5,2394,8544,9526,599

6,8647,4658,794

- 4 9 3- 4 5 5- 7 9 9- 6 2 1

- 5 7 6-1,270-2,054-2,423-2,460

-2,701-2,788-2,841-3,135-2,805

-2,752-2,596-2,449-2,304-2,133

-2,122-2,935-3,226-3,143-3,328

-3,354-2,893-3,420-2,070-1,653

- 7 4 6674

1,679492

509407407357

244237247

- 2 3 9

34-217- 3 8 4

733946374230

- 1 2 0298

83- 2 3 8- 2 6 9

-297- 3 6 1- 1 8 9- 6 3 3- 8 2 1

- 9 6 4- 9 7 8

-1,152-1,309-1,146

-1,280-1,331-1,750-1,548-1,763

-2,038-2,345-3,063-3,158-3,184

-2,725-2,465-3,200-2,985

- 9 1 2- 8 0 8- 6 9 3- 7 8 7

- 7 3 1- 7 9 8- 7 8 4- 6 7 2

- 5 6 6- 8 4 0- 6 1 5

310145175208

242254309307305

299447482486573

579594809960

1,041

1,3871,3651,6121,6301,833

2,1902,5092,7893,1853,975

4,5904,7254,9836,226

1,1671,2311,3311,251

1,4391,5011,6031,682

1,5201,6151,623

7,80711,6176,9426,511

2,1774,3993,1451,1952,499

2,9285,1537,1073,1451,166

5,1326,3456,0267,1679,603

8,2845,9615,7093,5633,393

5,6342,282

-1,88911,0229,298

22,9529,603

-9,423- 8 , 3 9 2

-2,320-1,173-1,659-4,272

-5,725-2,139-1,931

1,399

1,737307

2,136

-2,922-2,625-4,525-5,638

-4,017-3,515-2,531-2,481-2,280

-2,498-2,423-2,345-2,361-2,448

-2,308-2,524-2,638-2,754-2,781

-2,854-2,932-3,125-2,952-2,994

-3,294-3,701-3,854-3,881

5—7,186

-4,613-4,998-4,670-5,086

-1,116-1,283-1,249-1,023

-1,228-1,313-1,233-1,314

-1,322-1,363-1,374

4,8858,9922,417

873

-1,840884614

-1,286219

4302,7304,762

784-1,282

2,8243,8213,3884,4146,822

5,4313,0292,584

611399

2,340-1,419-5,744

7,1412,113

18,3394,605

-14,092-13,478

-3,436-2,456-2,908-5,295

-6,953-3,452-3,164

85

415-1,056

762

1 Excludes military grants.2 Adjusted from Census data for differences in valuation, coverage, and timing.3 Fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States are excluded from

investment income and included in other services, net.4 In concept, the sum of balance on current account and allocations of special drawing rights is equal to net foreign investment in

the national income and product accounts, although the two may differ because of revisions, special handling of certain items, etc.

(See next page for continuation of table.)


TABLE B-98.—U.S. international transactions, 1946-79—Continued

[Millions of dollars; quarterly data seasonally adjusted, except as noted]

Year or quarter

U.S. assets abroad, net[increase/capital outflow ( - ) ]

Total

U.S.officialreserveassets6

OtherU.S.

Govern-ment

assets

U.S.privateassets

Foreign assets in the U.S., net[increase/capital inflow ( + )]

Total

Foreign officialassets

Total

Assetsof

foreignofficialreserve

agencies

Otherforeignassets

Alloca-tions ofspecialdrawingrights(SDRs)

Statisticaldiscrepancy

Total(sum of

theitems

with signreversed)

Ofwhich:

Seasonaladjust-ment

discrep-ancy

19461947.19481949

19501951195219531954

19551956195719581959

19601961.196219631964

19651966196719681969

19701971197219731974.

197519761977.1978

1977:III.IllI V

1978IIIIII.IV.

1979-III.Ill "..

-623-3,315-1,736-266

1,758-33

-4151,256480

182-869

-1,1652,2921,035

2,145607

1,535378171

1,22557053

-870-1,179

2,4812,349- 4158

-1,467

-849-2,558-375732

-420-24112-43

187248115182

-3,585343

2,779

-4,099-5,537-4,175-7,270-9,559

-5,715-7,319-9,758-10,977-11,585

-9,336-12,474-14,497-22,874-34,745

-39,703-51,269-35,793-60,957

-1,683-12,272-6,625-15,213

-15,188-5,466-10,049-30,254

-7,637-16,165-23,325

-1,100-910

-1,085-1,662-1,680

-1,605-1,543-2,423-2,274-2,200

-1,589-1,884-1,568-2,6445 366

-3,474-4,214-3,693-4,656

-1,062-885

-1,001-746

-1,009-1,263-1,390-994

-1,094-1,001-756

-5,144-5,234-4,624-5,986-8,049

-5,335-6,345-7,387-7,833-8,206

-10,228-12,939-12,925-20,388-33,643

-35,380-44,498-31,725-57,033

-201-11,363-5,736

-14,424

-14,366-4,451-8,774

-29,442

-2,958-15,507-25,348

2,2942,7051,9113,2173,643

7423,6617,3799,92812,702

6,35922,97021,46118,38834,241

15,42036,39950,82363,713

2,59614,00214,23619,991

18,175941

15,35829,239

1,4766,057

23,059

1,473765

1,2701,9861,660

134-6723,451-774

-1,301

6,90826,87910,4756,02610,546

6,77717,57336,65633,758

5,4917,7208,266

15,179

15,618-5,265

4,64118,764

-9,391-10,043

5,562

1,258741

1,1181,5581,362

69- 7 8 53,368- 7 5 9

-1,552

7,36427,38910,2935,09010,244

5,25913,06635,41631,004

4,9287,4977,890

15,101

14,895-5,129

4,51916,719

- 9 , 2 2 7-10,299

5,371

8211,939

6411,2311,983

6074,3333,928

10,70314,002

- 5 5 0-3,90910,98612,36223,696

8,64318,82614,16729,956

-2,8956,2825,9704,812

2,5576,206

10,71710,475

10,86816,10017,497

867717710

1,139

-1,019- 9 8 9

-1,124- 3 6 0-907

- 4 5 8629

- 2 0 5438

-1,516

- 2 3 0-9,794-1,930-2,655-1,609

5,94410,265- 9 3 7

10,722

2,523726

-4,703517

3,9657,976

-2,145930

4,60611,163- 4 9 5

714240

-2,2751,321

901517

-2,7161,301

985737

-3,756

5 Includes extraordinary U.S. Government transactions with India.6 Consists of gold, special drawing rights, convertible currencies, and the U.S. reserve position in the International Monetary Fund

(IMF).

Note.—Quarterly data for changes in U.S. official reserve assets, U.S. private assets abroad, and foreign assets in the United Statesare not seasonally adjusted.


3172 9 4 - 2 8 9 0 - 8 0 - 2 1


TABLE B-99.—U.S. merchandise exports and imports by principal end-use category, 1965-79

[Millions of dollars; quarterly data seasonally adjusted]

Year or quarter

19651966196719681969

19701971197219731974

1975197619771978

1977:1IIIIIIV

1978:1IIIIIIV

1979:IIIIll"

Exports

Total

26,46129,31030,66633,62636,414

42,46943,31949,38171,41098,306

107,088114,745120,816142,052

29,51831,07530,55829,665

30,71235,39636,53239,412

41,34842,79247,337

Agricul-tural

6,3056,9496,4536,2976,096

7,3747,8319,51317,97822,412

22,24223,38124,33129,904

6,2456,2546,0235,809

6,4967,6807,9307,798

7,6407,7339,609

Nonagricultural

Total

20,15622,36124,21327,32930,318

35,09535,48839,86853,43275,894

84,84691,36496,485112,148

23,27324,82124,53523,856

24,21627,71628,60231,614

33,70835,05937,728

Capitalgoods

8,0528,9079,93411,11112,369

14,65915,37216,91421,99930,878

36,63939,11239,76746,474

9,7739,85410,2649,876

10,15311,08012,42512,816

13,81113,69515,557

Othergoods

12,10413,45414,27916,21817,949

20,43620,11622,95431,43345,016

48,20752,25256,71865,674

13,50014,96714,27113,980

14,06316,63616,17718,798

19,89721,36422,171

Imports

Total

21,51025,49326,86632,99135,807

39,86645,57955,79770,499103,649

98,041124,051151,689175,822

37,18537,63937,99638,869

42,62943,32944,48145,383

47,46350,50854,619

Petrol-eumand

products

2,0342,0782,0912,3842,649

2,9273,6504,6508,415

26,609

27,01734,57344,98342,317

12,39610,69911,34210,546

10,6359,97210,87110,839

11,63812,90516,619

Nonpetroleum

Total

19,47623,41524,77530,60733,158

36,93941,92951,14762,08477,040

71,02489,478106,706133,505

24,78926,94026,65428,323

31,99433,35733,61034,544

35,82537,60338,000

Indus-trialsup-plies

9,12310,2359,95612,02711,798

12,39013,76216,26319,58827,766

23,96629,70035,67042,547

7,9498,9469,2209,555

10,24810,99610,68010,623

11,05712,28412,726

Othergoods

10,35313,18014,81918,58021,360

24,54928,16734,88442,49649,274

47,05859,77871,03690,958

16,84017,99417,43418,768

21,74622,36122,93023,921

24,76825,31925,274

Note.—Data are on an international transactions basis and exclude military shipments.



TABLE B-100.—U.S. merchandise exports and imports by area, 1973-79


Item 1973 1974 1975 1976 1977 1978 1979»

Exports

Developed countries

CanadaJapanWestern EuropeAustralia, New Zealand, and South

Africa

Developing countries...

OPEC2

Other3....

Eastern Europe

Imports

Developed countries.

Canada.JapanWestern Europe.Australia, New Zealand, and South

Africa

Developing countries...

OPEC^Other3

Eastern Europe

71,410

48,529

16,7108,356

21,216

2,247

20,834

3,41417,420

2,047

70,499

48,985

17,6949,665

19,774

1,852

20,913

5,09715,816

601

98,306

64,487

21,84210,72428,164

3,757

32,082

6,21925,863

1,737

103,649

61,092

22,39212,41424,267

2,019

41,580

17,23424,346

977

107,088

66,496

23,5379,567

29,884

3,508

37,343

9,95627,387

3,249

98,041

55,973

21,71011,25720,764

2,242

41,334

18,89722,437

734

114,745

72,335

26,33610,19631,883

3,920

38,287

11,56126,726

4,123

4124,051

67,488

26,47515,53123,003

2,479

55,379

27,40927,970

875

120,816

76,970

28,53310,56634,094

3,777

40,951

12,87728,074

2,895

4151,689

79,227

29,64418,56528,226

2,792

70,681

35,77834,903

1,127

142,052

87,762

31,22812,96039,364

4,210

50,208

14,84635,362

4,082

4175,822

99,154

33,55224,54236,620

4,440

74,407

33,28941,118

1,509

175,303

110,463

36,00817,36552,052

5,037

60,133

14,26445,869

5,347

4 203,453

109,527

37,86925,85140,260

5,547

90,570

41,48349,087

1,687

1 First 3 quarters at seasonally adjusted annual rate; preliminary. Detail will not add to totals because of seasonal adjustmentdiscrepancy and rounding.

2 Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3 Latin American Republics, other Western Hemisphere, and other countries in Asia and Africa, less petroleum exporting countries and

the International Monetary Fund.4 Includes imports of nonmonetary gold from International Monetary Fund, not in area detail.

Note.—Data are on an international transactions basis and exclude military shipments.



TABLE B-101.—U.S. merchandise exports and imports by commodity groups, 1958-79


Year ofmonth

Merchandise exports1

Totaldomes-tic andforeign

exports2

Domestic exports

Total2

Foodbever-ages,and

tobac-co

Crudemateri-als andfuels4

Manu-facturedgoods5

Merchandise imports

General imports6

Total3

Foodbever-ages,and

tobac-co

Crudemateri-als andfuels4

Manu-facturedgoods5

Total,c.i.f.

value7

Merchandise trade balance

Exportsless

imports,customs

value

Exportsless

imports,f.a.s.

Exportsless

imports,c.i.f.

1958...1959...

1960...1961...1962...1963...1964...

1965...1966...1967...1968...1969...

1970...1971...1972...1973...1974...

19741975197619771978

1978:Jan....Feb....Mar...Apr....May...June..

July...Aug...Sept..Oct....Nov....Dec...

1979:Jan....FebMar...Apr....May...June..

July...Aug...

§5!:Nov

F.a.s. value8 Customs value

16,37516,426

19,65920,22620,98622,46725,832

26,74229,49031,03034,06337,332

42,65943,54949,19970,82397,998

97,998107,589115,150121,150143,575

9,8649,94511,14711,63011,78612,268

11,66212,29413,27412,90113,45113,283

13,13213,50714,45213,88313,86215,038

15,66915,82115,83216,83817,004

16,21116,243

19,45919,98220,71722,18225,479

26,39929,05430,64633,62636,788

42,02542,91148,39969,73096,634

96,634106,100113,476118,944141,069

9,7139,768

10,90311,42011,54112,05311,49712,10113,06612,67013,21213,054

12,92313,28314,16513,63613,57814,774

15,43315,56015,57916,55416,650

2,6882,8523,1673,4663,7434,1884,637

4,5195,1864,7104,5924,4465,0585,0766,569

12,93815,233

15,23316,79317,23415,96320,626

1,2621,5101,6431,6411,8641,964

1,7991,9601,8771,7861,6341,692

1,4371,5571,7651,7581,8072,1822,3522,2622,2662,4972,278

3,0522,9963,9423,8643,3563,7754,337

4,2734,4044,7264,8655,0066,6926,4417,091

10,73515,802

15,80215,19716,09518,57920,952

1,4141,3021,5311,6771,7541,905

1,6201,7181,9011,9342,0402,047

2,1432,0092,3132,1341,9392,2862,4412,4502,5862,5062,759

11,54711,179

12,58312,78413,66814.29716,529

17,43319,21820,84423,81826,785

29,34430,44333,74044,73163,523

63,52370,95177,24180,15194,484

6,6066,7217,3397,5947,6147,791

7,7288,0948,5868,6268,9138,907

8,7599,0789,4039,0569,0689,639

9,81910,07110,09210,50710,441

13,39215,690

15.07314,76116,46417,20718,749

21,42725,61826,88933,22636,043

39,95145,56355,58369,476101,394

3,5503,580

3.3923,4553,6743,8634,022

4,0134,5904,7015,3655,3086,2306,4047,3799,235

10,701

4,1644,615

4,4184,3344,6914,7555,029

5,4405,7185,3676,0316,3916,5427,2688,838

13,44631,842

5,3117,117

6,8636,5377,6498,0709,106

11,24414,44615,75620,62423,011

25,90730,41437,76745,00156,202

F.a.s. value8

100,64896,570

121,009147,685172,026

13,10314,26014,00414,49214,00913,970

14,54514,13314,82014,85214,82515,032

16,23114,80615,27316,03616,34216,937

16,77718,17718,66618,85618,422

10,7099,923

11,89114,22715,742

1,2701,2761,4081,3741,3261,240

1,3131,1231,2351,3581,3691,452

1,4861,2611,4371,5401,4561,552

1,3861,4111,4151,3931,689

32,06432,59641,47453,55451,913

4,1204,3334,2514,3084,1054,234

4,1734,5154,5114,3514,4364,577

5,1454,4384,8905,1865,2065,504

5,9666,4607,0467,4676,364

55,22351,08064,77576,554100,352

7,3848,3947,9728,4718,2578,158

8,7298,1678,7678,7558,6918,617

9,2918,8248,5969,0239,2329,475

9,0659,8739,7499,5049,839

28,74535,32038,241

42,42948,34258,86273,573108,392

108,392103,843129,896157,560183,137

13,92715,19314,89315,43414,91314,869

15,49515,07415,82115,76415,77016,006

17,28215,72016,22817,05317,35017,977

17,82319,27519,77719,95719,524

2,983736

4,5865,4654,5225,2607,083

5,3153,8724,141

8371,289

2,708-2,014-6,384

1,348-3,396

-3,396 -2,65011,020

-5,859-26,535-28,451

-3,239-4,315-2,858-2,861-2,223-1,702

-2,883-1,839-1,546-1,951-1,374-1,749

-3,099-1,300

- 8 2 1-2,153-2,480-1,900

-1,108-2,357-2,833-2,018-1,418

2,283-1,257

- 9 0 9

230-4,793-9,663

2,752-10,395

-10,3953,747

-14,746-36,410-39,563

-4,063-5,248-3,747-3,804-3,127-2,601

-3,834-2,780-2,547-2,863-2,319-2,724

-4,150-2,213-1,776-3,171-3,488-2,940

-2,154-3,455-3,945-3,119-2,521

1 Beginning 1960, data have been adjusted for comparability with the revised commodity classifications effective in 1965.2 Total excludes Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance

Program.3 Total includes commodities and transactions not classified according to kind.4 Includes fats and oils.5 Includes machinery, transportation equipment, chemicals, metals, and other manufactures. Export data for these items include

military grant-aid shipments through 1975. They are excluded in 1978-79.6 Total arrivals of imported goods other than intransit shipments.7 C.i.f. (costs, insurance, and freight) import value at first port of entry into United States. Data for 1967-73 are estimates.8 F.a.s. (free alongside ship) value basis at U.S. port of exportation for exports and at foreign port of exportation for imports.

Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and and bullion reported separately prior to1969. Trade in gold is included beginning 1974. Export statistics cover all merchandise shipped from the U.S. customs area, exceptsupplies for the U.S. Armed Forces. Exports include shipments under Agency for International Development and Food for Peace programsas well as other private relief shipments.

Source: Department of Commerce (Bureau of the Census and International Trade Administration).


TABLE B-102.—International investment position of the United States at year-end, selected years, 1970-78


Type of investment 1970 1972 1974 1976 1977 1978

Net international investment position of the United States..

U.S. assets abroad

U.S. official reserve assets

GoldSpecial drawing rights (SDRs)Reserve position in the International Monetary Fund (IMF)Foreign currency reserves

Other U.S. Government assets

U.S. loans and other long-term assetsU.S. short-term assets other than reserves

U.S. private assets

Direct investments abroad (book value)Foreign securitiesClaims on foreigners reported by U.S. banks, not included

elsewhereClaims on unaffiliated foreigners reported by U.S. nonbanks

Foreign assets in the United States..

Foreign official assets

U.S. Government securities*Other U.S. Government liabilitiesLiabilities reported by U.S. banks, not included elsewhereOther official assets

Other foreign assets..

Direct investments in the United States (book value)Liabilities reported by U.S. banks, not included elsewhereU.S. Treasury securitiesOther U.S. securities2

Liabilities to unaffiliated foreigners reported by U.S. nonbanks.,

58.6

165.5

14.5

11.1.9

1.9.6

32.1

29.72.5

118.8

75.521.0

13.88.5

106.8

26.1

17.71.76.7

.0

80.7

13.322.7

1.234.7

8.8

37.1

199.0

13.2

10.52.0

.5

.2

36.1

34.12.0

149.7

89.927.6

20.711.4

161.8

63.2

52.91.68.5

.2

98.7

14.921.2

1.250.710.7

58.8

255.7

15.9

11.72.41.9.0

38.4

36.32.1

201.5

110.128.2

46.217.0

196.9

79.8

58.12.6

18.4.6

117.1

25.141.8

1.734.913.6

82.6

347.2

18.7

11.62.44.4

.3

46.0

44.11.9

282.4

136.844.2

81.120.3

264.6

105.5

74.08.7

17.25.6

159.1

30.853.57.0

54.813.0

72.4

383.0

19.3

11.72.64.9

.0

49.6

47.81.8

314.1

149.849.4

92.622.3

310.6

141.9

106.89.9

18.07.2

168.7

34.660.2

7.652.913.4

76.7

450.1

18.7

11.71.61.04.4

54.2

52.31.9

377.2

168.153.4

129.626.1

373.3

175.1

130.812.723.18.5

198.2

40.877.09.9

55.415.1

1 Includes Treasury and agency issues of securities.2 Corporate and other bonds and corporate stocks.

Note.—Gold is valued at SDR35 per ounce, throughout. The SDR value is converted to dollars at $1/SDR before December 1971, at$1.08571/SDR from December 1971 through January 1973, at $1.20635/SDR from February 1973 through June 1974, and as measuredby the basket valuation of the SDR beginning July 1974.



TABLE B-103.— World trade: Exports and imports, 1965, 1970, and 1975-79

[Billions of U.S. dollars]

Area and country 1965 1970 1975 1976 1977 1978 19791

Developed countries3..

United StatesCanadaJapan

European Community4

FranceWest GermanyItalyUnited Kingdom

Other developed countries

Developing countries

OPEC 5...Other

Communist countries6

U.S.S.REastern Europe..China

TOTAL..

Developed countries3

United States.CanadaJapan

European Community4

FranceWest GermanyItaly

United Kingdom

Other developed countries..

Developing countriesOPEC5

Other

Communist countries6..

U.S.S.REastern EuropeChina

TOTAL....

129.7

27.58.58.5

64.8

10.217.97.2

13.8

20.4

35.2

10.724.5

23.2

8.211.82.0

188.1

136.7

23.28.78.2

69.3

10.417.67.4

16.1

27.3

37.0

6.530.5

22.6

8.111.61.8

196.3

Exports, f.a.s.2

225.9

43.216.719.3

113.0

18.134.213.219.6

33.6

54.3

17.636.7

34.7

12.818.22.1

314.9

583.3

107.634.155.8

298.4

53.190.234.844.5

87.4

203.5

111.592.0

90.4

33.445.3

7.2

877.2

647.3

115.040.567.3

328.8

57.2102.2

37.346.7

95.7

248.3

135.2113.1

99.1

37.349.5

7.3

994.7

735.3

121.243.481.1

382.3

65.0118.1

45.358.2

107.1

282.5

148.0134.5

115.4

45.256.48.0

1,133.2

Imports, c.i.f.7

881.0

143.747.998.4

462.2

79.4142.5

56.171.7

128.8

294.8

142.8152.0

133.2

52.464.29.9

1,309.0

235.3

42.414.318.9

116.9

19.129.915.022.0

43.0

56.6

10.046.6

34.2

11.718.52.2

326.1

611.0

103.436.357.9

301.9

54.074.938.454.2

111.5

189.8

52.7137.1

100.8

37.151.37.4

901.6

701.5

129.640.364.9

345.6

64.488.443.456.6

121.2

208.0

64.6143.4

105.1

38.255.66.0

1,014.6

793.8

157.642.171.3

390.2

70.5101.5

48.164.6

132.7

248.0

84.8163.2

115.3

40.962.3

7.1

1,157.1

915.4

183.146.279.9

462.8

81.8121.8

56.578.6

143.4

296.4

104.0192.4

139.7

50.871.710.9

1,351.5

1,032.2

183.155.5

102.5

555.8

98.8173.2

72.090.7

135.3

383.9

201.9182.0

145.6

64.073.1

1.2

1,561.7

1,080.0

219.555.1

108.9

577.2

105.7161.2

75.4103.1

119.3

339.2

106.1233.1

161.4

60.078.914.4

1,580.6

1 Preliminary estimates.2 Free-alongside-ship value.3 Includes the OECD countries, South Africa, and non-OECD Europe.4 Includes Belgium-Luxembourg, Denmark, Ireland, and the Netherlands, not shown separately.5 Includes Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Oman, Qatar, Saudi Arabia, United Arab Emirates, and

Venezuela.6 Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Cost, insurance, and freight value, except Eastern Europe (except Albania) and U.S.S.R., which are f.o.b (free on board).

Sources: International Monetary Fund, Organization for Economic Cooperation and Development, and Council of Economic Advisers.


TABLE B-104.— World trade balance and current account balances, 1965, 1970, and 1975-79

[Billions of U.S. dollars]

Area and country 1965 1970 1975 1976 1977 1978 1979l

Developed countries3

United States..CanadaJapan

European Community4

FranceWest GermanyItalyUnited Kingdom-

Other developed countries-

Developing countries

OPEC5...Other

Communist countries6...

U.S.S.REastern EuropeChina

TOTAL7

OECD...

United States....CanadaJapan

European Community4

FranceWest Germany.ItalyUnited Kingdom.

Developing countries.

OPEC9.Other

Other10..

TOTAL

-6 .9

4.3- . 2

.3

- 4 . 5

- . 2.3

- . 2- 2 . 3

- 6 . 8

- 1 . 8

4.2- 6 . 0

.1

.2

.2

- 8 . 2

3.8

5.4-1 .1

.9

.9

.4- 1 . 6

2.2- . 1

World trade balance2

- 9 . 6

.82.5.4

- 3 . 9

- 1 . 04.3

- 1 . 8- 2 . 4

- 9 . 4

- 2 . 3

7.6- 9 . 9

.5

1.1- . 4- . 2

-11.4

-27.7

4.2- 2 . 1- 2 . 1

- 3 . 5

- . 815.2

- 3 . 6- 9 . 6

-24.1

13.7

58.8-45.1

-10.4

-3 .7- 6 . 0- . 2

-24.4

-54.2

-14.6.2

2.4

-16.8

- 7 . 213.7

- 6 . 2- 9 . 9

-25.5

40.3

70.6-30.3

- 6 . 0

- . 9- 6 . 1

1.3

-19.9

-58.5

-36.31.39.8

- 7 . 9

- 5 . 516.6

- 2 . 8- 6 . 4

-25.7

34.5

63.2-28.7

.1

4.3-5 .9

.9

-23.9

-34.4

-39.41.7

18.5

- .6

-2 .420.7- . 4

-6 .9

-14.6

- 1 . 6

38.8-40.4

- 6 . 5

1.6- 7 . 5- 1 . 0

-42.5

Current account balances8

6.7

2.31.12.0

3.2

.1

.91.11.8

- 8 . 5

- . 5- 8 . 0

- 2 . 9

- 4 . 7

- 0 . 4

18.3-4 .7- . 7

- . 13.5

- 4 . 1

-10.2

27.3-37.5

-18.5

-29.1

-18.2

4.6- 3 . 9

3.7

- 6 . 2

- 6 . 13.4

- 2 . 8- 1 . 5

11.0

36.5- 2 5 . 5

-13 .0

-20.2

- 2 4 . 8

-14.1- 4 . 010.9

1.5

- 3 . 34.22.5

.5

5.0

29.0-24.0

- 8 . 7

- 2 8 . 5

9.1

-13.9- 4 . 616.5

17.2

3.98.86.42.0

-29.0

7.0-36.0

- 9 . 5

-29.4

- 4 7 . 8

-36.4.4

- 6 . 4

-21.4

-6 .912.1

-3 .4

-12.4

16.0

44.795.8

-51.1

-15.8

4.0- 5 . 8

-13.2

-18.9

- 3 0 . 0

.0- 6 . 0- 7 . 5

- 5 . 9

1.5- 3 . 5

6.3- 5 . 5

18.0

65.0- 4 7 . 0

- 8 . 2

- 2 0 . 2

1 Preliminary estimates.2 Exports f.a.s. (free alongside ship) less imports c.i.f. (cost, insurance, and freight).3 Includes the OECD countries, South Africa, and non-OECD Europe.4 Includes Belgium-Luxembourg, Denmark, Ireland, and the Netherlands, not shown separately.5 Includes Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, N i i O S d i

lVenezuela.

shown separately.Nigeria, Oman, Saudi Arabia, United Arab Emirates, and

6 Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.7 Asymmetries arise in global payments aggregations because of discrepancies in coverage, classification, timing, and valuation in the

recording of transactions by the countries involved.• OECD basis.9 Consists of countries in footnote 4 plus Bahrain and Qatar.

1 0 Includes Communist countries and non-OECD developed countries.

Sources: International Monetary Fund, Organization for Economic Cooperation and Development, and Council of Economic Advisers.


TABLE B-105.—International reserves, selected years, 1952-79

[Millions of dollars; end of period]

Area and country 1952 1962 1972 1976 1977 1978

1979

November

All countries

Industrialized countries2....

United StatesCanada.Japan

AustriaBelgium.France.Germany.ItalyNetherlands..Scandinavian countries (Denmark, Norway, and Swe-

den).Switzerland.United Kingdom.

Other Europe.

Australia, New Zealand, and South Africa

Oil exporting countries

Iran.NigeriaSaudi Arabia3.Venezuela.Other4

Other less developed areas

Other Western Hemisphere....

Other Middle East

Other Asia

Other Africa

149,187

36,773

24,7141,9441,101

1161,133686960722950

8171,6671,956

1,559

1,509

1,699

177500

443'579

7,187

2,086

826

3,479

796

62,660

49,254

17,2202,5612,021

1,0811,7534,0496,9574,0681,944

1,3622,9193,308

2,966

2,066

2,030

211289268583680

6,343

1,700

992

2,663

989

159,118

105,814

13,1506,05018,366

2,7203,86910,01523,7856,0854,785

3,7577,5575,647

12,749

8,264

10,901

960376

2,5001,732

5,330

21,388

8,145

2,927

8,248

2,067

257,415

131,848

18,3195,84316,605

4,4105,2069,728

34,8016,6547,387

5,63512,9934,230

13,734

4,602

65,233

8,8335,203

27,0258,57815,597

41,997

15,222

5,778

17,912

3,085

317,886

169,397

19,3924,608

23,261

4,2445,761

10,19439,73711,6298,065

7,58013,83021,057

15,668

3,657

75,499

12,2664,259

30,0348,214

20,727

53,664

20,280

7,472

22,138

3,776

364,035

209,062

19,5824,569

33,500

6,0075,90813,92953,88314,8997,585

10,53021,56117,067

22,324

3,742

60,214

12,1521,916

19,4076,555

20,184

68,692

28,938

9,391

26,323

4,039

383,966

211,353

20,1963,971

20,475

4,5987,818

20,39553,62121,3539,512

11,38117,77520,208

24,327

3,445

67,869

4,98118,7106,243

76,971

33,584

9,642

29,383

4,362

1 Includes Cuba.2 Includes Luxembourg.3 Data beginning April 1978, exclude the foreign exchange coyer against the note issue.4 Algeria, Indonesia, Iraq, Kuwait, Libya, Oman, Qatar, and United Arab Emirates.

Note.—International reserves is comprised of monetary authorities' holdings of gold, special drawing rights (SDRs), reserve positionsin the International Monetary Fund, and foreign exchange. Data exclude U.S.S.R., other Eastern European countries, Mainland China, andCuba (after 1960).

Source.- International Monetary Fund, "International Financial Statistics."


TABLE B-106.—Growth rates in real gross national product, 1960-79

[Percent change]

Area and country

OECD countries

United StatesCanadaJapan

European Community3

FranceWest GermanyItalyUnited Kingdom

Other OECD4

Communist countries5

U.SSREastern EuropeChina

Less developed countries

OPECOther

TOTAL

1960-73annual

average

4.8

3954

10 5

47

57485232

54

«53

«50M l6 6 2

7 9 076.1

1974

0.5

-1 .33.5

-1 .0

1.7

3.2.5

4.2-1 .5

3.5

4.3

4.14.73.7

8.05.3

1975

0.4

-1 .01.12.4

-1 .4

- 2 i l- 3 . 5- 1 . 0

.2

3.6

2.54.27.0

- . 34.1

1976

5.2

5.55.76.0

5.1

4.95.65.73.7

3 8

3.0

3.74.3

.1

12.85.0

1977

3.7

4.82.75.4

2.3

2.82.81.71.3

1.9

4.4

3.13.38.1

6.25.1

1978

3.9

4.43.45.6

3.1

3.33.52.63.3

2.3

4.7

4.02.9

117

2 65 2

1979 *

3.3

2.02.86.0

3.0

3.04.34.0

.5

3.0

.8

6 5 "

U.S. dollarvalue in

1978(billions)2

5,960.0

2,107.6203.5968.8

1,950.0

470.2640.2235.2309.6

730.1

2,240.0

1,253.6384.0444 2

1,460 0

9,660 0

1 Preliminary estimates.2 Estimates based on conversion at average rates of exchange for 1977, except for those of the Communist countries, which were

converted at U.S. purchasing power equivalents.3 Includes Belgium-Luxembourg, Denmark, Ireland, and the Netherlands, not shown separately.4Growth rates are for OECD countries other than the Big Seven (United States, Canada, Japan, France, West Germany, Italy, and the

United Kingdom).5 Includes North Korea, Vietnam, Albania, Cuba, Mongolia, and Yugoslavia, not shown separately.61961-73 annual average.71967-73 annual average.

Note.—For Italy and United Kingdom, data relate to real gross domestic product. For France, data relate to real gross domesticproduct excluding nommarket activity such as compensation of employees in the government sector.

Sources: Department of Commerce, International Monetary Fund, Organization for Economic Cooperation and Development (OECD),and Council of Economic Advisers.


TABLE B-107.—Industrial production and unemployment rate, major industrial countries, 1960-79

[Quarterly data seasonally adjusted]

Year or quarter

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

1978:1II(IIIV

1979:1IIIIIIV

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979 4

1978.1IIIIIIV

1979.1IIIIIIV

UnitedStates Canada Japan

EuropeanCommun-

ity1France West

Germany Italy UnitedKingdom

Industrial production (1967=100)2

66.266.772.276.581.7

89.897.8

100.0106.3111.1

107.8109.6119.7129.8129.3

117.8130.5138.2146.1152 2

140.8145.1147.9150.7

152.2151.9152.3152.1

63.165.671.275.782.6

89.796.2

100.0106.4113.7

115.3121.5130.7143.0147.5

139.6147.4152.1160.9

156.3158.8162.0166.2

167.8165.8169.9

43.051.255.461.771.4

74.283.8

100.0115.2133.4

151.8155.7167.0190.5183.1

163.9182.0189.7201.1

196.0199.6202.4206.5

210.2215.4219.4

74.778.181.384.891.0

94.798.4

100.0107.4117.6

123.3126.1131.7141.4142.3

132.8142.5145.7149.1

146.6147.7148.6152.2

152.3155.2155.6

7073788690

9398

100104114

120128135145148

139148152156

154157156159

159160165

78.482.886.188.996.6

102.1103.0100.0109.2123.2

131.1133.6138.7147.7145.1

137.1149.1152.5155.8

153153157159

159163165

59.265.571.978.479.2

82.893.3

100.0106.4110.5

117.6117.5122.7134.6140.6

127.6143.7145.1148.4

146.1147.8145.6153.9

157.0151.9153.6

84.484.385.188.495.0

97.799.2

100.0106.7110.3

110.9110.6113.2123.0120.0

114.3117.4122.8126.5

123.7127.4128.2127.3

128.5135.3130.6

Unemployment rate (percent)3

5.56.75.55.75.2

4.53.83.83.63.5

4.95.95.64.95.6

8.57.77.06.05.8

6.26.06.05.8

5.85.85.85.9

7.07.15.95.54.7

3.93.43.84.54.4

5.76.26.25.55.3

6.97.18.18.47.5

8.48.58.48.2

7.97.67.17.3

1.71.51.31.31.2

1.21.41.31.21.1

1.21.31.41.31.4

1.92.02.02.3

52.2

2.22.32.32.3

2.02.12.2

1.81.61.51.31.5

1.61.92.02.62.4

2.62.82.92.83.0

4.34.75.05.56.1

4.95.45.85.8

5.96.26.36.1

1.1.6.6.5.4

.3

.31.31.4.9

.8

.8

.8

.81.7

3.63.63.63.43.0

3.53.53.43.3

3.23.02.92.8

3.83.22.82.42.6

3.53.83.43.43.3

3.13.13.63.42.8

3.23.63.43.73.9

3.73.63.63.7

3.93.83.93.9

2.22.02.83.42.5

2.22.33.43.33.0

3.13.74.12.92.9

4.15.56.26.15.8

6.36.26.15.8

6.05.75.65.9

1 Consists of Belgium-Luxembourg, Denmark, France, Ireland, Italy, Netherlands, United Kingdom, and West Germany.2 All data exclude construction.3 Unemployment rates adjusted to U.S. concepts. Data for United Kingdom exclude Northern Ireland.4 Data are preliminary except for United States and Canada.5 Ten-month average, seasonally adjusted.Sources: Department of Commerce (International Trade Administration) and Department of Labor (Bureau of Labor Statistics).


TABLE B-108.—Consumer prices and hourly compensation, major industrial countries, 1960-79

[1967 = 100]

Year or quarter

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

19781IIIIIIV

19791IIIll

I9601961196219631964

19651966196719681969

19701971197219731974

1975197619771978

UnitedStates Canada Japan France West

Germany Italy UnitedKingdom

Consumer prices

88.789.690.691.792.9

94.597.2100.0104.2109.8

116.3121.3125.3133.1147.7

161.2170.5181.5195.4

188.5193.4197.9201.9

207.0214.1221.1

77179.482.685.288.9

91.095.2100.0107.0113.9

121.8129.5136.6146.4161.1

180.2195.1212.0229.5

85.986.787.789.290.9

93.196.5100.0104.0108.8

112.4115.6121.2130.3144.5

160.1172.1185.9202.5

195.6200.3205.4208.6

213.4218.9223.3

80 378.977.079.082.0

86.293.0100.0107.4115.5

128.2142.6156.6170.5200.6

222.4260.8270.3270.1

68.371.876.782.585.8

91.696.3100.0105.3110.9

119.3126.5132.3147.9184.0

205.8224.9243.0252.3

247.5252.6254.3254.9

254.0260.5263.1

^ s . o^ o . e85.489.592.5

94.897.4100.0104.5111.3

117.1123.5131.1140.7160.0

178.9196.1214.5233.9

224.5230.9237.1242.0

247.3254.3262.5

Hourly compensation

43.450.357.564.172.0

81.189.2100.0116.9139.3

165.9197.3259.2353.7431.2

497.2538.3644.5870.2

56.061.767.975.080.7

86.992.5100.0112.6111.6

117.2131.3159.9208.5231.3

310.7319.1355.5437.1

82.984.887.489.992.0

95.098.4100.0101.6103.5

107.1112.7119.0127.2136.1

144.2150.7156.6160.7

159.6161.1161.0161.2

164.5167.1169.0

2

51.860.568.873.679.5

85.794.3100.0105.9117.3

145.9173.4211.4289.3342.4

406.3425.4506.1628.5

74.175.779.285.190.1

94.296.4100.0101.4104.1

109.2114.4121.0134.0159.7

186.8218.1255.2286.2

274.1282.6289.3298.1

309.5321.0331.8

46 851.861.172.380.4

86.089.8100.0106.8121.1

145.0169.7206.0261.7291.6

374.7352.7394.2466.9

79.081.685.186.889.6

93.997.6100.0104.8110.3

117.4128.5137.7150.2174.3

216.5252.4292.4316.6

306.2314.6320.0325.5

335.6347.9371.2

65 970.874.677.983.2

91.298.7100.093.3101.7

115.3134.3154.4167.8197.8

247.3235.6250.4316.1

1 Data for 1960 and 1961 are for Paris only.2 Hourly compensation in manufacturing, U.S. dollar basis. Data relate to all employed persons (wage and salary earners and the self-

employed) in the United States and Canada and to all employees (wage and salary earners) in the other countries. For France andUnited Kingdom compensation adjusted to include changes in employment taxes that are not compensation to employees, but are laborcosts to employers.

Sources: Department of Commerce (International Trade Administration) and Department of Labor (Bureau of Labor Statistics).


TABLE B-109.—Summary of major U.S. Government net foreign assistance, July 1, 1945 to December 31,

1978

[Millions of dollars]1

Type and geographic distribution

Total net

Investment in 6 international financial institutions3

Under assistance programs, net

Net new military grantsGross new grantsLess: Reverse grants and returns

Other grants, credits, and other assistance (through net accumulationof foreign currency claims), net

Net new economic and technical aid grants4

Gross new grantsLess* Reverse grants and returns

Net new cred i ts 4 5

New creditsLess* Principal collections

Other assistance (through net accumulation of foreign currencyclaims)6

Currency claims acquiredSales of farm productsSecond-stage operations7

Less: Currencies disbursedEconomic grants and credits to purchasing countryOther uses

Geographic distribution of net nonmilitary assistance

Developing countries,8 net total

Net new economic and technical aid grantsNet new creditsOther assistance (through net accumulation of foreign currency

claims)

Developed countr ies8 net total

Net new economic and technical aid grantsNet new creditsOther assistance (through net accumulation of foreign currency

claims)

1945-492

5,540

141

5,399

325340

15

5,074

3,3123,486

174

1,7621,986

224

904

752152

4170

2,5601610

Yearly average or calendar year

1950-54

5,059

5,059

2,4622,494

32

2,597

2,4062,512

106

148544396

42

5151

972

1,032

772240

20

1564

1,63492

22

1955-59

4,772

7

4,764

2,4382,451

14

2,327

1,7101,759

48

210827617

407

965963

2

558413145

2,211

1,470386

355

116

240176

52

1960-64

4,664

124

4,540

1,5941,629

35

2,946

1,8501,872

22

8711,843

972

225

1,2301,186

44

1,005807198

3,316

1,8171,310

189

371

32439

36

1965-69

5,899

81

5,818

2,1902,196

5

3,628

1,7761,780

4

1,9503,0821132

- 9 8

814691122

912716196

3,611

1,7651,926

- 8 0

17

1124

- 1 8

1 Negative figures ( - ) occur when the total of grant returns, principal repayments, and/or foreign currencies disbursed by theGovernment exceeds new grants and new credits utilized and/or acquisitions of foreign currencies through new sales of farm products.

2 July 1, 1945, through December 31, 1949. Yearly average is for 4V2 years.3 Includes paid-in capital subscriptions and contributions to the special funds of the African Development Fund, Asian Development

Bank, Inter-American Development Bank, International Bank for Reconstruction and Development, International Development Association,and Internationa! Finance Corporation.

4Net new grants are not adjusted for settlements of postwar relief and other grants under agreements, and net new credits excludeprior grants converted into credits. Repayments on these settlements are included in net new credits.

5 Outstanding credits on December 31 , 1978, totaled $45,287 million, representing net credits extended since organization of Export-Import Bank, February 12, 1934, less chargeoffs and net adjustments due to exchange rates ($1,560 million), and excluding World WarI debts. The amount repayable in dollars at U.S. Government option was $42,849 million; the remainder was repayable in foreigncurrencies, commodities, or services, at the option of the borrowers.

(See next page for continuation of table.)


ERP1980 Appendixes 2

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