SCB_101970

OCTOBER 1970 / VOLUME 50 NUMBER Jm\J

SURVEY OFCURRENT BUSINESS

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

OCTOBER 1970 / VOLUME 50 NUMBER 10SURVEY OF CURRENT BUSINESS

CONTENTS

THE BUSINESS SITUATION

Summary 1

Second Quarter Regional and State Income Changes 3

National Income and Product Tables 8

ARTICLES

Industrial Impacts of Residential Constructionand Mobile Home Production 14

Sales of Foreign Affiliates of U.S., Firms1961-65, 1967 and 1968 18

The International Investment Position of theUnited States: Developments in 1969 21

Revised Estimates of Retail and Business Inventories 38

CURRENT BUSINESS STATISTICS

General S1-S24

Industry S24-S40

Subject Index (Inside Back Cover)

U.S. Department of Commerce

Maurice H. Stans / Secretary

Rocco C. Siciliano / Under Secretary

Harold C. Passer / Assistant Secretaryfor Economic Affairs

Office of Business EconomiesGeorge Jaszi / DirectorMorris R. Goldman / Associate DirectorLora S. Collins / EditorLeo V. Barry, Jr. / Statistics EditorBilly Jo Hurley / Graphics

STAFF CONTRIBUTORS TO THIS ISSUEBusiness Review and Features:

Donald A. KingRobert B. Bretzfelder

Articles:Allan H. YoungClaiborne M. BallR. David BelliDavid T. DevlinGeorge R. Kruer

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the BUSINESS SITUATION

GNP rose $14 billion in the thirdquarter, a somewhat larger increasethan in the second. The rise in pricescontinued at about the same rate as inthe second quarter. Measured in realterms, the Nation's output rose $2J/£billion or at an annual rate of 1^2percent.

The statistics for September indicategeneral sluggishness in business activity

E«jCONOMIC activity showed amodest expansion during; the thirdquarter, despite the adverse effectsof the automobile strike. Measuredin current dollars, gross national prod-uct rose $14 billion, a somewhatlarger gain than the $11% billion inthe second quarter, and substantiallygreater than the $7% billion increasein the first quarter of this year. Therise in prices continued at about thesame rate as in the second quarter,and the implicit price deflator roseat an annual rate of nearly 4% percent.Measured in real terms, the Nation'soutput increased $2% billion or at anannual rate of 1% percent; real outputwas essentially unchanged in the secondquarter following a decline of $5%billion in the first.

The third quarter acceleration inGNP was due entirely to the increasein final sales which amounted to $13billion as compared with $10 billionin the second quarter. On the basis ofincomplete data, inventory investmentis estimated to have increased very littlein the summer. Although the strike atGeneral Motors affected only the last2 weeks of the quarter, its impact—which primarily affected inventories—

is estimated at an annual rate of about$2 billion. Of course, as the strikeextends into the fourth quarter, ithas a bigger impact on activity becausethe direct loss of auto output will beincreasingly augmented by secondaryor indirect effects.

Major components of final salesThe accelerated expansion of final

sales in the third quarter reflectedincreased strength for all major com-ponents except net exports, whereexpansion was unchanged, andconsumer spending, where growthslackened noticeably (chart 2).

Cautious attitudes among consumersheld the rise in personal consumptionexpenditures to only $8 billion in thesummer quarter; spending rose $11%billion in the second quarter and $10%billion in the first. The relativelysmall third quarter increase reflectedweakness in expenditures for goods,particularly for durables; service out-lays continued on their upward course.After showing a fairly strong pickup inthe spring, spending for durables de-clined slightly because of cutbacks inpurchases of furniture and householdappliances; outlays for autos and partsshowed virtually no change, whilespending for other durables was up alittle. Consumer expenditures for non-durable goods increased about $1 billionless than in the spring quarter. Duringthe summer, the rise in consumerspending fell short of the $9% billionexpansion in disposable personal in-come, and the saving rate—personalsaving as a percentage of disposalincome—inched up to 7.6 percent from7.5 percent in the second quarter.The saving rate was 6.7 percent in thefirst quarter and averaged 6.0 percentin 1969.

Third quarter GNP rose $14 billion

CHART 1

Billion $

30 -

20 -

10 -

FINAL SALES accounted for most of the rise30 -

20 -

10 -

INVENTORY INVESTMENT was little changed10 -

-20 -

REAL OUTPUT increased 1 '2 percentPercent10 -

The GNP DEFLATOR rose 4 Vi percent10 -

!'nmrTrn.[f i. n1967 1968 1969 1970

Change From Previous QuarterSeasonally Adjusted at Annual Rates

U.S. Department of Commerce, Office of Business Economics


SURVEY OF CURRENT BUSINESS October 1970

While consumer spending added lessto the expansion of GNP in the thirdquarter than in the second, governmentpurchases added considerably more.The swing in total government pur-chases, from a decline of $1% billion inthe second quarter to an increase of $3

CHART 2

Changes in Components of Final SalesIn the third quarter:• Growth of consumer spending slowed• Most other major components showed

more strengthBillion $

30 -

TOTAL

20 -

10 -

PERSONAL CONSUMPTION EXPEWMTURES20 ~

10 -

10 -BUSINESS FIXED INVESTEMENT

-5 ~

10 -RESIDENTIAL STRUCTURES

-5 -

10 -FEDERAL GOVERNMENT PURCHASES

5 -

-5 -

10 ~STATE AND LOCAL GOVERNMENT PURCHASES

5 -

1967 1968 1969 1970

Change From Previous QuarterSeasonally Adjusted at Annual Rates


billion in the third, was the main factorin the stepped-up growth of final sales.Primarily because of a strong revivalin construction outlays, State and localpurchases rose $3% billion, a muchlarger increase than in the secondquarter. Federal purchases, which haddeclined $2% billion in the spring andwere a big drag on the second quarterexpansion of GNP, fell only $% billionin the summer. Defense purchasesdeclined by more than $1% billion, butthis was partly offset by an increasein nondefense spending of nearly $1billion.

Investment expenditures also showedsome acceleration in the third quarter.Reflecting the recovery in homebuild-ing activity that has been evident sincelate spring, residential investment rose$% billion; these expenditures, whichhad been contracting for more than ayear, declined by this amount in thesecond quarter. Business fixed invest-ment also registered a bit more strengthin the third quarter than in the second.

September Developments

The statistics for September indicategeneral sluggishness in business activ-ity. Industrial production declined, inpart reflecting the strike at the Gen-eral Motors Company. Employmentwas essentially unchanged, but thenumber of unemployed and the un-employment rate rose sharply. Personalincome registered a moderate advance,a large part of which reflected the retro-active pay increase for postal em-ployees. To judge from weekly data,retail sales were showing little changein September; sales had improvednoticeably in July but leveled off inAugust. Wholesale prices, after a de-cline in August, rose in September.

Industrial production

The Federal Reserve index of pro-duction declined sharply in Septemberafter 3 months in which mixed changesshowed overall production stable. Theindex fell 3 percentage points to 166.0percent of the 1957-59 average, andstood 5 percent below its peak in July1969. About two-thirds of last month'sdecline was a result of the auto strike;the balance reflected slack in most other

manufacturing industries. In terms ofthe major market sectors, output ofconsumer goods other than autos fell,materials production declined, and thepronounced contraction in both busi-ness and defense equipment continued.

Employment and income

The number of unemployed personsrose 375,000 in September to 4.6 mil-lion, seasonally adjusted, and the un-employment rate jumped to 5.5 percentfrom 5.1 percent in August. The numberof workers employed was essentiallyunchanged from August, and the sharprise in the jobless rate resulted fromlabor force growth.

Nearly four-fifths of the increase inthe number of unemployed occurredamong 16-24 year olds. The LaborDepartment cautioned that the highconcentration of unemployed in thisgroup may reflect the fact that thehousehold survey was taken duringLabor Day week, and may have in-cluded young people who had not yetgiven up summer job seeking efforts—i.e., not left the labor market—beforetheir return to school. Women ac-counted for virtually all the rise inunemployment among those 25 yearsand over. The jobless rate for femalesin this age group rose 0.3 of a percent-age point to 4.4 percent seasonallyadjusted; the rate for men in thisgroup was unchanged at 3 percent.

Because the survey was taken earlyin September, these data do not re-flect any loss of employment associatedwith the auto strike. Striking employeesare not considered unemployed in thehousehold survey; however, workerswho lose their jobs as a result of second-ary strike effects are counted, andtheir numbers will show up in the datafor October.

Employment in nonagricultural es-tablishments rose about in line withseasonal expectations and, on a season-ally adjusted basis, was unchangedfrom August. Moderate employmentincreases in trade, services, and Stateand local government offset a sizabledecline in contract construction and asmall reduction in Federal employ-ment; the number of workers on pay-rolls in both durable and nondurable


October 1970 SUKVEY OF CUEEENT BUSINESS 3

goods manufacturing was unchangedfrom August. The September survey ofnonfarm establishments was also takenearly in the month and did not reflectthe auto strike. Striking workers willnot be in the payroll employmentfigures for October; their exclusion willshow up as a reduction in the payrollseries of about 325,000 workers.

The measurement of the averageworkweek was affected by the fact thatthe survey week included Labor Dayand persons who did not receive holidaypay were reported as having reducedweekly hours of work. The Septemberfigures show substantial declines inboth the average workweek and over-time in manufacturing. The averageworkweek for all employees on nonfarmpayrolls fell 0.4 hour (seasonally ad-justed) to 36.8 hours and overtime inmanufacturing fell 0.3 hour to 2.7hours.

Although payroll employment heldsteady last month, it declined substan-tially during the third quarter; thesummer weakness was widespread andgreater than that in the spring (table 1).

Personal income rose $5K billion inSeptember at a seasonally adjusted

Table 1.—Change in the Number of Em-ployees on Nonagricultural Payrolls l

[Thousands of workers, seasonally adjusted]

All

MiningProductionNonproduction

C onstructionProductionNonproduction _ _

Durables manufacturing. .Production _ _Nonproduction

Nondurables manufac-turing

ProductionNonproduction _ _ _

Transportation andutilities

Wholesale trade

Retail trade

Finance, insurance, andreal estate

Services

Federal Government

State and local govern-ment

19

HI

316

7g

-1

A

-3-1

33285

g—715

31

30

79

35

84

-13

30

69

IV

341

321

39318

-118-126

8

1-15

16

g

36

62

34

145

-24

151

I

300

211

—24-36

12

-189— 180

— 9

241410

37

48

114

44

121

8

116

1970

II

-255

— 5—5

0

—80-77-3

-251-187

— 64

— 102— 100

-2

— 16

18

-25

21

43

27

114

III

—437

—4—5

1

—85— 78-7

-238-169

—69

—58—47— 11

40

— 10

—28

—3

—35

-145

126

1. Computed on quarterly averages. Source: BLS.

annual rate. Government wages andsalaries were responsible for half of thisrise. State and local government pay-rolls increased about $% billion, whileFederal payrolls were boosted $2% bil-lion by the pay raise for postal workers.Of the latter amount, $2 billion re-flected a one-time retroactive paymentcovering the April-to-August period;this portion of the pay increase will notbe in the personal income figures forOctober. Private wages and salariesincreased only about $}£ billion inSeptember, with the service industriesaccounting for most of this increase.

The nonwage components of personalincome rose about $2 billion lastmonth. Interest income showed an-other good-sized gain as did transferpayments. The latter received an addedboost in September from the cost ofliving increases in Civil Service benefitpayments to retirees and their survi-vors, and from the recently enactedincrease in railroad retirement annuities.

Wholesale pricesAfter declining more than seasonally

in August, wholesale prices turnedaround and rose 0.5 percent in Septem-ber. In both months the swing in theoverall index resulted mainly from thehighly volatile farm products compo-nent; prices of farm products declinedsharply in August and rose sharply inSeptember. The corn blight apparentlyhad a significant impact on the farmproducts component last month, as theprices of corn and other grains surgedupward.

Prices of processed foods and feedsshowed little change in September, andprices for industrial commodities wereup 0.3 percent. Among the industrialcommodities, prices of machinery andequipment and transportation equip-ment moved higher, and very large in-creases w^ere recorded for fuels andpower. On the other hand, prices in thechemicals, rubber, and metals groupsrecorded declines.

Second Quarter Regional andState Income Changes

Personal income rose in the secondquarter of 1970 in seven of the eightregions—the Plains is the exception—

and in 43 of the 50 States. In mostareas, the advance in the secondquarter was significantly larger thanin the first. However, most of thesecond quarter acceleration was dueto unusually large increases in transferpayments—mainly the increase in socialsecurity benefits—and a pay raise forFederal employees.

Total personal income in the Nationrose 2l/2 percent in the second quarter,seasonally adjusted, as compared withan advance of about \% percent inthe first. The Federal pay increasepushed Federal Government payrollsup by 10 percent and the increase insocial security benefits boosted totaltransfer payments by nearly 14 percent.Because a large part of these paymentswere retroactive, some of the bigsecond-quarter gains reflected pay-ments that were associated with firstquarter obligations. When transfer pay-ments and Federal payrolls are excludedfrom the second quarter increase inpersonal income, the relative gain isreduced from 2% percent to three-fourths of 1 percent.

The personal income gain excludingFederal payrolls and transfers acceler-ated in the second quarter in threeregions—Rocky Mountain, Southwest,and Far West—and in 20 States. Inthe first two of these regions and mostof these States, the acceleration is trace-able directly to unusually large spurtsin farm income. Conversely, weaknessin the Plains reflected a decline inagriculture income. The effects of eachof these three income components—transfer payments, Federal payrolls,and farm income—on regional changescan be seen in the accompanying texttable. By showing income changes,excluding the three components invarying combinations, both the percentchange in the component and itsimportance in the region's incomestructure are measured.

Second quarter area differences

While the percent increases in transferpayments and in Federal payrolls werefairly uniform in the regions and States,the importance (weight) of these in-come components in regions' or States'

(Continued on page 12)


SUEVEY OF CURRENT BUSINESS October 1970

CHART 3

• GNP rose $14 billion in third quarter- the largest gain in past year; real GNP rose 11/2 percent at an annual rate• In September: The jobless rate jumped to 51/2 percent, the highest level in 6 years• Wholesale prices advanced, farm products accounted for bulk of the rise

TOTAL PRODUCTION

Billion $

1,000

950 -

900 -

800

Billion $

40

Quarterly (III)

CURRENT DOLLAR GNP**(Change From Previous Quarter)

30

20

Quarterly (III)

Billion $

800

750

700

650

600

12

CONSTANT DOLLAR (1958) GNP**

TotalNy

Final Sales

1 1 I

k Inventory Change

I I i

-

_

i t iQuarterly (III) QBE

-4

CONSTANT DOLLAR (1958) GNP*(Change From Previous Quarter)

llll1968 1970 QBE1969

Quarterly (III)

* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates


THE LABOR MARKET PRICES

Million Persons Percent

79 -

CIVILIAN LABOR FORCE ANDEMPLOYMENT*

77 -

75

Monthly (Sept.)

IMPLICIT PRICE DEFLATOR FOR GNP(Change From Previous Quarter)

Quarterly (III)

J_UNEMPLOYMENT RATE*

Total

Married Men

/V

1957-59=100

135

130

i I i 1 1 i 1 1 i 1 1 i i I i i i i 1 1 i i i i i I i i i i i I i i i i iMonthly (Sept.) BLS

CONSUMER PRICES

Total

120

115 I I I I I I I I I I I I I I I 1 I I t ! I M I I I I I I I I i M I I

Monthly (Aug.) BLS

Million Persons

76

72

68

Billions 1957-59=100

120

NONFARM ESTABLISHMENTS(Employees)

Employment(left scale)

\

-' \Man-Hours*(right scale)

115

140 110

130 105

WHOLESALE PRICES

Total

60 I ( 1 I I I I I I 1 I I 1 I I I I I I I 1 I I 1 I I I I I I I 1 I I I I I 120 100 1 1 1 I LI 1 i i I i I I 1 I 1 I I i I I I { I I I I I M I i t I

Monthly (Sept.) BLS Monthly (Sept.) BLS

Hours

45.0

42.5

40.0

37.5

35.0

Dollars 1957-59=100

PRODUCTION OR NONSUPERVISORY WORKERS(PRIVATE) X

s

Average Hourly Earnings f , — -*'(right scale) \ _/

-

<*V*^.

,_/

NXT ^Average Weekly Hours*

M 1 M 1 1 1 M I

1968

(left scale)1 | M 1 | 1 | J | |

-

— "*^ \

! 1 1 1 1 1 1 M I 1

3.40 130

3.20 120

3.00 110

2.80 100

2.60 90

WHOLESALE PRICES >-~

Processed Foods r^^r^and Feeds /

./s-^^v^^s*~s^*~**~~~-

^-•-Vv-

1 1 1 I 1 1 1 1 1 1 1

/Ny

Farm Products

1 1 i i 1 1 i 1 1 i i

r-^

*'\

_1 1 1 1 1 1 1 1 1 1 1

1969 1970 BLS 1968 1969 1970 BLS

Monthly (Sept.) Monthly (Sept.)


October 1970

• Personal• In third

SURVEY OF CUERENT BUSINESS

income rose about $51/2 billion in September

5

1 CHART 4

quarter: Personal consumption expenditures rose $8 billion, somewhat less than in the second quarter• Business fixed investment up very little; residential investment increased after a year long decline

INCOME OF PERSONS CONSUMPTION AND SAVING FIXED INVESTMENTBillion $

850

800

750

700

650

Billion $

PERSONAL INCOME**

~

-

/

,/

n i i i i l i i i . i i

Billion $

600

550

500

450

400

g.^/

/l I 1 1 l 1 1 I i I [

-^

1 M 1 1 1 1 1 1 1

650

600

550

500

450

Billion $

PERSONAL CONSUMPTION EXPENDITURES**

~

î i i

Monthly (Sept.) QBE

Billion $

WAGES AND SALARIES**

- — , **Total .^

(left scale) S^\

i i i 1 .1 1 i i i M

Billion $

700

650

600

550

500

Y'-" "/

Manufacturing(right scale)

i 1 1 1 1 | i n 1 1

-

-

l 1 1 I I 1 l 1 I i.l

35

30

200 25

150 20

100 15

^.^î i i

-

_

1 1 1

100

75

50

25

0

Producers1 Durable Equipment**~

*- ^« •*"* """" """'

~ Nonresidential S

_*

Residential Stru

i i i

Quarterly (III) QBE

Billion $

RETAIL STORE SALES*

Tota

^^^~^~^S~

-

. ^f~~

^** ^ '

,'— \~Excluding

i i i i i 1 i i i 1 1

Monthly (Sept.) QBE

Million Units

DISPOSABLE PERSONAL INCOME /^

- ^^s'

1 1 1

Dollars

2,700

2,600

2,500

2,400

2,300

S

/^^

\ 1 1

-

1 1 1

V2.

10

8

6

4

Automotive Group

i i i i i i 1 1 i j i

^ """ """

-

M M 1 1 1 1 1 1 1

100

90

80

70

60

\

ructures**

rt*iiill^>*?r

/ctures**

i i i

Quarterly (III)

—

-

"

1 1 1

QBE

PLANT AND EQUIPMENTEXPENDITURES

-

-

s\ /^^

\f

1 1 1Monthly (Aug.) Census

Billion $

NEW CAR SALES**

/v/*x

^^/

i i i i 1 i i i i i

Quarterly (III) QBE

Percent

REAL PER CAPITA DISPOSABLEPERSONAL INCOME**

-(In 1958 Dollars)

~ S~~ 1^

-

i l i1968

^^

_/^r-^T

1 1 1

-

-

1 1 1

12

10

8

6

4

Domestic(left scale)

\ A /V^ -

Imports(right scale)

^_\,_.i i i i | i i i i i

V w

..-^.•*— """"X

1 1 1 1 1 M 1 1 1

o

7

6

2 5

0 4

**

A 1 II !•

^s

1 I . IQuarterly (IV)

-

^^^*+

• Expected

I . I 1

OBE-SEC

CAPITAL GOODS MANUFACTURERS*

New Orders A A.

. A//&

r .**

in i i 1 i i i i - i

Monthly (Sept.) Trade Sources & QBE

Million Units

PERSONAL SAVING RATE*

-

^s^.

^\î i i

1969 1970 1968

Quarterly (III) QBE

-

^- —

/-/^

^ 1I I I

-

1 1 1

2.5

2.0

1.5

1.0

.5

>~^^Shipments

1 1 1 1 1 1 M 1 I I

Monthly (Aug.)

':./

1 l 1 l l 1 1 l 1 l 1

Census

PRIVATE HOUSING**

-

A

f^

1 """

-

1 1 1 M 1 1 1 1 1 1

1969 1970 1968

Quarterly (III) QBE

Starts

' T\/\-o!Permits

1 1 1 1 1 1 1 1 1 M

1969

Monthly Aug.)

-

. A ~$r

1 1 1 1 1 l l l 1

1970

Census


U.S. Department of Commerce, Office of Business EconomicsDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

SURVEY OF CURRENT BUSINESS October 1970

» In third quarter: inventory investment increased a little further• Net exports continued to show improvement* Federal purchases of goods and services continued to decline- State and local purchases up

INVENTORIES FOREIGN TRANSACTIONS GOVERNMENTBillion $ Billion

40

30

20

10

0

CHANGE IN BUSINESS INVENTORIES**(GNP Basis)

- -

-

-Ill Illl...

8

4

0

-4

NET EXPORTS**

-

Goods and Services

^ ^^ ~/ \^_ S~~^~

— ""'"""" ~"Nv '**

\Merchandise

i l l i l l

~'

140

120

100

80

<sn

FEDERAL PURCHASES OFGOODS AND SERVICES**

-

Total

- ^- r

Defense

\

t i l i l l

*

l i lQuarterly (III) QBE Quarterly (III) QBE Quarterly (III) QBE

Billion $ Billion $ Billion $

180

170

160

150

140

MANUFACTURING AND TRADE INVENTORIES*(Book Value, End of Month)

~ s* ~

^^Total *S\ /^

^s

.si i 1 1 1 1 1 1 1 1 1 i i 1 1 i 1 i i 1 1 i

_

i 1 1 t 1 1 1 1 i i

4.0

3.5

3.0

2.5

2.0

MERCHANDISE TRADE*

Exports A / -\ 1 \sys/^y. A./

~~ 7 J r*i C ^^/^Vl 1 JiV If

, , , , , , , , , , , 1 1 , , ,

—

i i i i i 1 i i i i i

4

3

2

1

0

DEFENSE PRODUCTS*

~~ New Orders k

•. A A r. i '• :-. j ]A yVs^/ ' *p+*£\~~{\\

.. 1 \ r V VShipments

i i i i i I i i i i i i 1 1 1 i 1 1 1 1 1 i

L ^S-S*~\ —

\ /

~

1 1 1 1 1 1 II 1 M

Monthly (Aug.) Census & QBE Monthly (Aug.) Census Monthly (Aug.) Census

Billion $ Billion $ Billion $

120

100

RO

60

40

MANUFACTURING AND TRADE INVENTORIES*(Book Value, End of Month)

_ _Manufacturing ^

Trade

\ -

1 1 1 M 1 1 1 1 1 1

---" —

i i 1 1 1 1 i 1 1 i i

-

i 1 1 i i 1 i 1 1 1

4

2

Q

-2

-4

NET FLOW OF PRIVATE U.S. AND FOREIGN CAPITAL(Other than Liquid Funds)*

_ _

Inflow

^s. ^^f\ S\

Outflow v-

i l l i l l

^-

i i i

^ou

225

175

150

FEDERAL BUDGET**(NIA Basis)

_ _

Receipts

V .....-.-•"s^ \

- .,.-•'* /^ Expenditures

i l l i l l

-

1 1 1

Monthly (Aug.) Census & QBE Quarterly (II) QBE Quarterly (II) QBE

Ratio Billion $ Billion $

2.0

1 R

1.6

1.4

1.2

INVENTORY/SALES RATIOS*

Manufacturing

^ • A >A ^ s^^l \~s

~ Total Manufacti

i i i 1 1 1 1 i i i

***^^~*^/

s

jring and Trade

i i i i 1 1 i 1 1 i

\ ^• ^N.

_

i i i i i 1 i i i i .

4

2

0

-2

-4

BALANCE OF PAYMENTS*

Official Reserve Transactions Basis

A V~"\

~^~^ \ Xv//\

A / 'Liquidity Basis \ /

i l l i i i

\/Vi i i

I/O

150

125

100

75

STATE AND LOCAL PURCHASESOF GOODS AND SERVICES**

^^^-^

i l l t i l

_

1 1 1

1968 1969 1970 1968 1969 1970 1968 1969 1970

Monthly (Aug.) Census & QBE Quarterly (II) QBE Quarterly (III) QBE


U.S. Department of Commerce, Office of Business EconomicsDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Octo

4

€

1

1957

190

180

170

160

150

1957-

200

175

150

125

100

Perc

95

90

85

80

75

Billic

40

36

32

28

24

ber 1970 SUEVEY OF CURRENT BUSINESS <

> In September: Industrial produc» Bank credit up s» Interest rates ar

INDUSTRIAL PRODUCTION59 = 1 00

INDUSTRIAL PRODUCTION*

~ U1 „ x * — v TotalDurable Manufactures ^s \(

/^^ " Nondurable X\s^.s*'"*' Manufactures \

«•**

1 I i 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 M 1 1

Monthly (Sept.) FRB

59 = 1 00

INDUSTRIAL PRODUCTION*

i X*. r Autos

-' w \ C\ -JS\ \ '

~ 1 / I ~1 / 1\s !

i i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1Monthly (Sept.) FRB

ent

RATIO, OUTPUT TO CAPACITY*

Manufacturing

A^i i i i i i i i i

Quarterly (II) FRB

n $

DURABLE GOODS MANUFACTURERS*

New Orders

••VP " * Shipments

1 1 1 ! 1 1 1 1 1 1 1 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1

tion downharply agd bond yi

Billior

460

420

380

340

300

Bill

2

1

0

-1

-2

Perc

10

8

6

4

2

1941

140

120

100

80

60

sharply, in part because of the aiain; money supply unchanged, afteelds continued lower and stock pri

MONEY, CREDIT, AND SECURITIES MARKETS$

BANK CREDIT AND MONEY SUPPLY*

Bank Credit -^^^^/loft cralot y* " "•

— •*' Money Supply(right scale)

LI i i i 1 1 1 i i i i 1 1 t i 1 i i 1 1 i i i i i 1 1 i i i i iMonthly (Sept.) FRB

ion$

FREE RESERVES

i i i i i 1 i i i i i i i i i i 1 i i i t i i i t i i 1 i i i i i

Monthly (Sept.) FRB

ent

INTEREST RATES AND BOND YIELDS

Corporate Yields, Moody's Aaa j^^

...,.••-** *%.•'*' \3-month Treasury Bills

i i i i 1 i i i i i i i i i i 1 i i n i i i i i i 1 i i M iMonthly (Sept.)

43 = 10

STOCK PRICES

Standard and Poor's 500\

i i i i i l.i i.i i i i 1 1 i i 1 i 1 1 i i i 1 1 i 1 1 1 1 1 i i

jto striker a sharpces move

Billior

240 120

220 100

200 80

180 60

160 40

Billio

120

100

80

60

40

Pe

24

16

8

0

-8

Pe

24

16

8

0

-8

rise in Augustd higher

PROFITS AND COSTS* $

CORPORATE PROFITS AND IVA **

Before Taxes _

-^ ^^-~ ~

i i l i t i l l

Quarterly (II) QBE

n $

CORPORATE CASH FLOW AND PROFITS**

Cash Flow\

-i-T— —

- Profits After Taxes

i i i i i i"T" i iQuarterly (II) QBE

cent

OUTPUT AND COMPENSATION PER MAN-HOUR,PRIVATE ECONOMY**

_ (Change From Previous Quarter)

Compensationn Output /

Quarterly (II) BLS

rcent

UNIT LABOR COSTS, PRIVATE ECONOMY**(Change From Previous Quarter)

1.11 Hill., i

1968 19701969

Monthly (Aug.)* Seasonally Adjusted * * Seasonally Adjusted at Annual Rates


Census1968 1969 1970

Monthly (Sept.)

1968 1969 1970 BLS

Quarterly (II)


8 SUEVEY OF CURRENT BUSINESS

NATIONAL INCOME AND PRODUCT TABLES

October 1970

1968 1969

1969

II III IV

1970

Seasonally adjusted at annual rates

Billions of current dollars

1968 1969

1969

II III IV II


Billions of 1958 dollars

Table 1.—Gross National Product in Current and Constant Dollars (1.1, 1.2)

Gross national product.. .

Personal consumption expenditures

Durable goods ...Nondurable goodsServices.. .

Gross private domestic investment

Fixed investment

Nonresidential _ _ _ _ _StructuresProducers' durable equipment ._

^Residential structuresNonfarmFarm

Change in business inventoriesNonfarm _Farm

Net exports of goods and services

Exports ..Imports ... .

Government purchases of goods and services..

FederalNational defenseOther.. - . . . . .

State and local _

865.0

535.8

84.0230.2221.6

126.5

118.9

88.729.659.1

30. 329 7

.5

7.67.5.1

2.5

50.648.1

200.2

99.578.021.5

100.7

931.4

577.5

90.0245.8241.6

139.8

131.4

99.333.865.5

32.031 5

.6

8.58.0.4

1.9

55.553.6

212.2

101.378.822.6

110.8

923.7

573.3

90.6244.0238.7

139.3

131.4

97.532.365.2

33.933 3

.6

7.97.6.3

1.3

57.255.9

209.9

99.877.921.9

110. 1

942.6

582.1

89.5248.1244.5

143.8

132.4

101.535.266.3

31.030 4

.6

11.310.8

.5

2.6

58.355.6

214.1

102.579.822.7

111.6

951.7

592.6

90.8252.0249.8

140.2

133.0

102.635.167.5

30.429 8

.6

7.26.5.7

2.6

58.856.2

216.3

102.178.823.3

114.2

959.5

603.1

89.1258.8255.2

133.2

131.6

102.635.766.9

29.128 4

.6

1.6.9.7

3.5

61.157.6

219.6

102. 379.323.0

117.4

971.1

614.4

91.9262.6259.9

134.3

131.2

102.835.367.5

28.427 8

.6

3.12.6.5

4.1

62.858.7

218.4

99.776.822.9

118.7

985.2

622.4

91.4265.5265.4

136.8

132.8

103.735.468.4

29.128 5

.6

4.03.5.5

4.7

63.558.8

221.3

99.075.223.8

122.4

707.2

452 3

81.4196.5174.4

105.7

98 8

75.522 752.7

23.322 9

.4

6.96.8.1

.9

45.744.8

148.3

78.7

69.6

727.1

467 7

84.9201 2181.6

111.3

104 1

80.824 056.9

23.322 8

4

7.26.8.4

.2

48.548.2

147.8

75.7

72.1

726.1

467.1

85.7200.9180. 5

111.5

104.8

80.223.157.0

24.724 2

.4

6.66.3.3

-.3

50.751.1

147.9

75.8

72.1

730.9

468.7

84.1201.9182.7

114.1

104.2

81.924.657.3

22.321 8

.4

9.99.3.6

.8

50.850.0

147.3

75.2

72.1

729.2

471 7

84.9202 4184.4

110.0

103 9

82.124 357.8

21.821 4

4

6.15.4.8

.9

50.049.1

146.6

73.8

72.9

723 8

474 o

82.7205 6185. 8

102.9

101 5

80.924 456.5

20.720 2

4

1.3.8.6

1.9

52.050.1

145.0

71.1

73.8

724.9

478 1

84.9206 6186.6

103.1

100 1

80.223 556.7

20 019 5

4

2.92.5.4

2.4

52.950.5

141.3

67.8

73.5

727 5

480 2

83.9208 2188. 1

102 6

99 5

79.622 856. 8

19. 919 5

4

3. 22.7.4

2.9

53.450.6

141.7

67.2

74.5

Table 2.—Gross National Product by Major Type of Product in Current and Constant Dollars (1.3,1.5)

Gross national productFinal sales...Change in business inventories

Goods outputFinal salesChange in business inventories ..

Durable goodsFinal salesChange in business inventories

NondurableFinal salesChange in business inventories

ServicesStructures

865.0857.4

7.6

430.6422 9

7.6

176.1170 4

5 7

254 5252.5

2 0

347 187 4

931.4922.9

8.5

460.0451 6

8.5

190.2183 9

6 4

269 8267.7

2 1

377 e93 8

923.7915.9

7.9

456 7448 8

7.9

189.4182 7

6 7

267 3266.1

1 2

372 394 8

942.6931.211.3

466.2454 911.3

192.7184 8

7 9

273 5270.1

3 5

383 093 3

951.7944.5

7.2

468.9461 7

7.2

192.7187 4

5 3

276 2274.3

1.9

390 392 5

959.5957.9

1.6

467.1465 5

1.6

185.3185 5

— 3

281 8280.0

1 9

400 192 3

971.1968.1

3.1

474.9471 8

3.1

186.6188.5—1 9

288.3283.3

5.0

405.890.4

985.2981.2

4.0

4.0

707.2700.3

6.9

380.7373 8

6.9

162.1157 1

5 1

218 6216.7

1.8

260 066 6

727.1719.9

7.2

392.2385 0

7.2

170.1164 7

5 3

222.1220.3

1.8

268 266.6

726.1719.4

6.6

391.1384 5

6.6

170.0164.5

5 5

221.1220.0

1.1

267 267.8

730.9720.9

9.9

395.7385 8

9.9

171.6164.9

6.7

224.1220.9

3.2

269 865.4

729.2723.0

6.1

393.5387 4

6.1

170.3165.9

4.4

223.3221.5

1.8

271.364.4

723.8722.4

1.3

387.3386 0

1.3

162.3162.6

—.3

225.1223.4

1.6

273 163.4

724.9721.9

2.9

391.1388.2

2.9

162.9164.4-1.5

228.3223.8

4.5

272.860.9

727.5724.3

3.2

3.2

Table 3.—Gross National Product by Sector in Current and Constant Dollars (1.7, 1.8)

Gross national product... .

Private

BusinessNonfarmFarm__.

Households and institutionsRest of the world

General government. . _ _ _ _

865.0

770.1

740 1714.625.5

25.34.7

94.9

931.4

827.8

795 4767.927.5

28.14.3

103.6

923.7

822.3

790 3762 727.6

27.84.2

101.4

942.6

836.6

804 2776 627.6

28.34.1

106.0

951.7

844.0

810 8783.027.8

29.04.2

107.7

959.5

848.5

814 3785.528.8

29.64.5

111.0

971.1

858.4

824.5796.028.5

30.03.9

112.8

985.2

871.3

836.9809.028.0

30.53.9

113.9

707.2

647.6

627". 2603.423.8

15.94.5

59.7

727.1

666.4

646.0622.523.6

16.44.0

60.7

726.1

665.6

645.3622.023.3

16.33.9

60.5

730.9

669.8

649.7626.223.5

16.33.8

61.0

729.2

668.1

647.6624.722.8

16.64.0

61.1

723.8

663.1

642.1619.522.6

16.74.3

60.7

724.9

664.2

644.0621.023.0

16.53.6

60.7

727.5

666.8

646.7623.722.9

16.53.7

60.6

p Preliminary.

HISTORICAL STATISTICS

National income and product statistics for earlier periods are available as follows:Data for 1966-69, July 1970 SURVEY OF CURRENT BUSINESS; 1964-65, July 1968 SURVEY;1929-63, The National Income and Product Accounts of the United States (available fromU.S. Department of Commerce Field Offices or from the Superintendent of Documents,U.S. Government Printing Office, Washington, D.C. 20402, price $1.00 per copy).


October 1970 SURVEY OF CURRENT BUSINESS 9

1968 1969

1969

II III IV

1970

I II III P


Billions of dollars

1968 1969

1969

II III IV

1970

I II Hip


Billions of dollars

Table 4.—Relation of Gross National Product, National Income,and Personal Income (1.9)

Table 6.—National Income by Type of Income (1.10)

Gross national product - -

Less: Capital consumption allowances.

E!oiials * Net national product

Less: Indirect business tax and nontaxliability

Business transfer paymentsStatistical discrepancy

Plus: Subsidies less current surplus ofgovernment enterprises

Equals : National income

Less: Corporate profits and inventoryvaluation adjustment

Contributions for social insur-ance .- -

Wage accruals less disburse-ments - - - -

Plus: Government transfer paymentsto persons - .

Interest paid by government(net) and by consumers

Dividends ._ -. -Business transfer payments

Equals * Personal income

865.0

74.0

791.1

78.13.3

-2.4

712.7

85.4

47.1

.0

55.7

26.323.33.3

688 7

931.4

78.9

852.5

85.23.5

—4.7

1.0

769.5

85.8

53.6

.0

61.6

29.024.73.5

748.9

923.7

78.2

845.5

84.33.5

-5.3

1.1

764.0

87.4

53.1

.0

61.0

28.624.43.5

741.1

942.6

79.4

863.1

86.63.5

-5.5

1.0

779.5

86.8

54.2

.0

62.0

29.125.03.5

758.1

951.7

80.7

871.0

87.73.5

-4.3

1.2

785.2

82.0

55.1

.0

63.4

30.225.23.5

770.5

959.5

82.1

877.4

89.33.6

-5.4

1.6

791.5

76. 7

56.0

2.5

66.3

31.025.23.6

782.3

971.1

83.6

887.5

91.13.6

-3.1

1.5

797.4

77.5

56.7

-2.1

75.8

31.425. 13.6

801 3

985.2

85.0

900. 1

93.03.6

1.9

57.6

-.4

75.0

32.225.43.6

807 1

National income

Compensation of employees

Wages and salaries . .PrivateMilitaryGovernment civilian

Supplements to wages and salaries _ _Employer contributions for social

insuranceOther labor income

Proprietors' income

Business and professionalFarm .

Rental income of persons _ .

Corporate profits and inventory valua-

Profits before tax

Profits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuation adjustment

Net interest

712.7

514.1

464.8369.117.977.8

49.3

24.324.9

64.1

49.115.0

21.3

85.4

88.7

40.648.223.324.9

-3.3

27.8

769.5

564.2

509.0404.919.085.1

55.1

27.527.6

66.8

50.516.4

22.0

85.8

91.2

42.748.524.723.9

-5.4

30.7

764.0

557.5

502.9401.218.483.4

54.6

27.327.3

66.7

50.516.2

22.0

87.4

93.4

43.849.724.425.2

-6.0

30.4

779.5

572.2

516.4409.919.986.6

55.8

27.927.9

67.5

50. 916.6

22.1

86.8

89.9

42.147.925.022.9

-3.2

31.0

785.2

582.1

525 3417.2

19 688.5

56.8

28 328 5

67 2

50.616.6

22.3

82.0

88 5

41.447 125.221.9

-6.5

31.7

791.5

592.2

534 4422.6

20 191.7

57.9

28 629 3

67 6

50.617.0

22.5

76.7

82.6

38.044.625.219.4

-5.8

32.4

797.4

596.4

537.4424.019.593.9

59.0

29.030.0

67.8

51.216.5

22.6

77.5

82.0

38.143.925. 118.8

-4.5

33.1

603.8

543.4428.9

19.295.4

60.4

29.630.8

67.8

51.716.1

22.7

25 .4

-5.8

33.8

Table 5.—Gross Auto Product in Current and Constant Dollars(1.15, 1.16) Table 7.—National Income by Industry Division (1.11)

Gross auto product i ...

Personal consumption expenditures.

ei exports — -

Imports

Addenda:New cars, domestic 2

New cars, foreign

Gross auto product i

Personal consumption expenditures .Producers' durable equipmentChange in dealers' auto inventories.

Net exportsExports -. .-Imports

Addenda :New cars, domestic 2 - - -New cars foreign

Billions of current dollars A,, industries> total

36.1

30.25.31.1

-.82.02.8

32.54.4

35.3

29.55.31.1

0

2^02.8

32.24.4

36.6

31.85.6.1

-1.12.23.4

32.25.6

34.8

31.55.6

-1.2

-1.42.33.7

30.85.5

37.6

31.65.61.4

-1.42.43.7

33.55.6

35.8

32.55.7

-1.1

-1.62.03.6

30.76.5

31.1

28.95.1

-1.7

-1.52.03.4

26.46.2

35.4

30.45.4.8

-1.42.64.0

30.76.7


35.0

30.35.4.1

-1.12.23.3

31.45.5

33.3

30.25.41 °

-1.42.33.6

30.15.4

35.8

30.15.41.4

-1.32.43.7

32.75.5

33.9

30.85.511

-1.52.03.5

29.86.3

29.2

27.14.91 C

-1.41.93.4

25.36.0

33.2

28.55.1.8

-1.42.53.9

29.56.4

35 4 Agriculture, forestry, and fisheries

nn rv ManufacturingK ' O Nondurable goods1 0 Durable goods

1 o Transportation2 K Communication3' g Electric, gas, and sanitary services

or, e Finance, insurance, and real estateServicesGovernment and government enter-

prisesRest of the world _ _

712.7

22.442.7

213.081.8

131.2

27.114.213.4

106.4

77.986.0

104.74.7

769.5

24.347.4

226.287.0

139.3

29.215.914.2

115.2

83.595.3

114.14.3

764.0

24.147.1

226.087.0

139.0

29.016.014.0

114.7

83.094.3

111.74.2

779.5

24.548.0

228.887.5

141.3

29.515.914.6

116. 8

84.296.5

116.74.1

785.2

24.848.9

227.388.5

138.9

30.116.114.2

117.2

85.398.4

118.64.2

791.5

25.249.1

223.688.8

134.8

31.016.412.7

118.9

86.5101.2

122.54.5

797.4

24.849.1

222.988.7

134.2

30.516.612.8

121.5

87.4103.4

124.63.9

32.8Table 8. — Corporate Profits (Before Tax) and Inventory Valuation

5'o Adjustment by Broad Industry Groups (6.12)

12 All industries, total.. .._o 4^3] 7 Financial institutions

Nonfinancial corporations28. 9g' 2 Manufacturing

Nondurable goods

85.4

11.0

74.4

42.419.197 7

85.8

12.0

73.8

41.819.399 A.

87.4

11.9

75 4

42.919.997 n

86.8

12.2

74 6

41.819.199 7

82.0

12.2

69 8

39.119.090 n

76.7

12.0

64 7

35.218.31fi Q

77.5

12.3

65 2

35.518.217 9

1. The gross auto product total includes government purchases.2. Differs from the gross auto product total by the markup on both used cars and foreign

cars.

v Preliminary.

404-263 O - 70 - 2


10 SURVEY OF CURRENT BUSINESS October 1970

1968 1969

1969

II III IV

1970

I II III P


Billions of dollars

Table 9.—Gross Corporate Product l (1.14)

Gross corporate product

Capital consumption allowances . .Indirect business taxes plus transfer

payments less subsidies

Income originating in corporate busi-ness

Compensation of employeesWages and salariesSupplements

Net interest

Corporate profits and inventoryvaluation adjustment

Profits before taxProfits tax liabilityProfits after tax

Dividends •Undistributed profits

Inventory valuation adjustment- -

Cash flow gross of dividendsCash flow net of dividends

Gross product originating infinancial institutions

Gross product originating innonfinancial corporations

Capital consumption allowancesIndirect business taxes plus transfer

payments less subsidies

Income originating in nonfinancialcorporations

Compensation of employeesWages and salariesSupplements

Net interest

Corporate profits and inventoryvaluation adjustment

Profits before tax. _ ...Profits tax liabilityProfits after tax

DividendsUndistributed profits

Inventory valuation adjustment- -

Cash flow, gross of dividendsCash flo\v , net of dividends - - - . -

Gross product originating innonfinancial corporations

Current dollar cost per unit of1958 dollar gross productoriginating in nonfinancialcorporations 2

Capital consumption allowancesIndirect business taxes plus transfer

payments less subsidiesCompensation of employeesNet interest

Corporate profits and inventory valu-ation adjustment

Profits tax liabilityProfits after tax plus inven-

tory valuation adjustment

492.8

46.5

44.8

401.5319.2284.334.9

.9

81.584.840.644.221 822.4-3.3

90.768.9

22 5

470.2

45.1

42.9

382.2301.2268.632.6

10.5

70 473.734.739.020 618.4

-3.3

84.163.5

531.2

49.8

48.6

432.9349. 7310.838.9

1.9

81.386.842.744.123 021 0-5.4

93.870.8

24 7

506.5

48.3

46.5

411.8329.9293.536.3

12.6

69 474.836.138.721.617.1

-5.4

87.065.3

528.9

49.3

48.1

431.4346.6308.038.5

1.8

83.189.143.845.422 922.5-6.0

94.771.8

24.6

504.3

47.9

46.0

410.4326.9290.936.0

12.4

71 177.237.240.021.518.4

-6.0

87.866.3

537.7

50.1

49.3

438.2354.1314.739.4

2.0

82.285.342.143.323 319.9

-3.2

93.470. 1

24.9

512.8

48.6

47.2

417.0334.1297.336.8

12.9

70 073.235.337.821.915.9

-3.2

86.564.6

539.7

51.0

49.9

438.8359.5319.639.9

2.1

77.383.841.442.423 518.9

-6.5

93.469.9

25.1

514.6

49.5

47.7

417.4339.1301.837.3

13.3

65 171.634.637.022.015.1

-6.5

86.564.5

539.7

52.0

50.7

437.1363.2322.640.6

2.3

71.677.438.039.423 316.2

-5.8

91.468.2

25 3

514.4

50.4

48.4

415.5342.3304.437.9

13.6

59 665.431.134.321 812.5

-5.8

84.762.9

544.0

53.0

.51.7

439.3363.8322.841.0

2.4

73.077.538.139.523.416.0

—4.5

92.569.0

25.6

518.4

51.4

49.4

417.5342.9304.638.3

13.9

60. 765.231.034.222.012.3

—4.5

85.663.7

54.0

52.8

368.2326.242.0

2.5

—5.8

52.3

50.5

346.8307.739.2

14.2

-5.8


415.1 432.5 432.9 435.6 433. 0 428.4 427.7

Dollars

1.133

.109

.103726

.025

.170

.084

.086

1.171

.112

. 107763029

160.083

.077

1.165

.111

.106

.755

.029

. 164

.086

.078

1.177

.112

.108

.767,030

. 161

.081

.080

1.188

.114

.110783

.031

.150

.C80

.070

1.201

.118

.113799

.032

.139

.073

.067

1.212

.120

.116802033

142072

.069

1968 1969

1969

II III IV

1970

I II III*


Billions of dollars

Table 10.—Personal Income and Its Disposition (2.1)

Personal income

Wage and salary disbursementsCommodity-producing industries .

Manufacturing .D istributi ve industries - -Service industriesGovernment.. .

Other labor income

Proprietor's income _ . . . . . .Business and professionalFarm _

Rental income of personsDividends.. .Personal interest income

Transfer payments. .Old age, survivors, disability, and

health insurance benefitsState unemployment insurance

benefits . . -Veterans benefitsOther... _

Less: Personal contributions forsocial insurance

Less: Personal tax and nontax pay-ments- -

Equals: Disposable personal income,

Less : Personal outlaysPersonal consumption expenditures _Interest paid by consumersPersonal transfer payments to for-

eigners

Equals : Personal saving

Addenda :Disposable personal income:

Total, billions of 1958 dollarsPer capita, current dollarsPer capita, 1958 dollars . - - - - - -

Personal saving rate,3 percent

688.7

464.8181.5145.9109.278 495.7

24.9

64.149 115.0

21 323.354.0

59.0

30 3

2.17 2

19.5

22.8

97.5

591.2

550.8535.814.3

.7

40.4

499.02,9392,480

6.8

748 9

509.0197.5157.5119.887 7

104. 1

27 6

66.850 516.4

22 024.759.7

65.1

33 0

2.18 3

21.6

26.0

117.3

631.6

593.9577.515.7

.8

37.6

511.53,1082,517

6.0

741 1

502.9196.0156.4118.586 7

101 7

27 3

66.750 516.2

22 024.459.0

64.5

32 9

1.98 4

21.4

25.8

118.1

623.0

589.7573.315.6

.8

33.3

507.53,0702,501

5.3

758 1

516.4199.9159 7121.388 7

106 5

27 9

67.550 916 6

22 125 060.1

65.5

33 1

2.28 3

21.8

26.4

117.5

640.6

598.7582.115.8

.9

42.0

515.93,1482,535

6.5

770 5

525.3202.5160 8123 890 9

108 1

28 5

67.250 616 6

22 325 261 9

67 0

33 5

2.38 7

22 4

26 8

119.9

650.6

609 6592.616.1

8

41.1

517.83,1882,537

6.3

782 3

531.9202.7160 7125 993 9

109 3

29 3

67 650 617 0

22 525 263 4

69 8

34 2

2 99 0

23 8

27 4

117 0

665.3

620 5603.1

16 4

9

44.8

522.93,2522,558

6.7

801 3

539.5201.5159 6127 095 5

115 5

30 0

67.651 216 5

22 625 164 5

79 4

41 5

3 69 5

24 9

27 7

117.7

683.6

632 1614.4

16 8

1 0

51.5

532.03,3332,594

7.5

807 1

543.8202.0159 9129 697 3

114 9

30 8

67 851 716 1

22 725 t66 0

78 7

39 0

4 39 6

25 7

28 0

114.1

693.0

640 5622.4

17 2

1 0

52.5

534.73,3692,599

7.6

Table 11.—Personal Consumption Expenditures by Major Type (2.3)

Personal consumption expendi-tures

Durable goods

Automobiles and partsFurniture and household equipment .Other

Nondurable goods

Food and beveragesClothing and shoes.. . . . . ._ -Gasoline and oilOther .

Services

HousingHousehold operationTransportationOther

535.8

84.0

37.234.612.3

230.2

115.146.119.050.0

221.6

77.431.215.697.5

577.5

90.0

40.336.713.1

245.8

121.749.921. 153.2

241.6

84.033.916.7

107.1

573.3

90.6

40.037.213.4

244.0

120.850.020.852.4

238.7

83.033.316.5

105.9

582.1

89.5

40.236.712.6

248.1

122.450.721.553.5

244.5

84.734.516.8

108.5

592.6

90.8

41.136.912.7

252.0

124.650.921.754.9

249.8

87.034.817.1

110.9

603.1

89.1

37.738.313.1

258.8

128.851.322.458.3

255.2

89.035.217.7

113.3

614.4

91.9

39.438.913.6

262.6

131.251.822.756.9

259.9

90.835.217.9

115 4

622.

91. <

39.,38.13

265.,

132.52.,?,3 (58.

265. ^

92.36.18.

117.

1. Excludes gross product originating in the rest of the world. Table 12. — Foreign Transactions in the National Income and2. This is equal to the deflator for gross product of nonfinancial corporations, with the Product Accounts (4 1)

decimal point shifted two places to the left. v * '

p Preliminary.Receipts from foreigners

Exports of goods and servicesCapital grants received by the United

States

Payments to foreignersImports of goods and servicesTransfers to foreigners

PersonalGovernment..

Net foreign investment

50.650.6

50.648.12.8.7

2.1-.3

55.555.5

55.553.62.8.8

2.1-.9

57.257.2

57.255.93.2.8

2.5-2.0

58.358.3

58.355.62.8.9

1.9-.1

58.858.8

58.856.22.9.8

2.1-.3

62.061.1

.9

62.057.62.8.9

1.91.6

63.762.8

.9

63.758.73.01.01.92.0

64.363.5

.9

64.358.82.91.01.92.7



1968 1969

1969

II III IV

1970

I II m>


Billions of dollars

1968 1969

1969

II III IV

1970

I II III »

Seasonally adjusted

Index numbers, 1958=100

Table 13.—Federal Government Receipts and Expenditures (3.1, 3.2) Table 16.—Implicit Price Deflators for Gross National Product (8.1)

Federal Government receipts

Personal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax

accrualsContributions for social insurance. - -

Federal Government expenditures

Purchases of goods and servicesNational defense ...Other

Transfer paymentsTo personsTo foreigners (net)

Grants-in-aid to State and local gov-ernments

Net interest paidSubsidies less current surplus of gov-

ernment enterprisesLess: Wage accruals less disburse-

ments

Surplus or deficit (-), nationalincome and product accounts

175.4

79.337 5

18.040.7

181.6

99.578.021.5

47.845.72.1

18.411.8

4.1

.0

-6.2

200.6

95.939 2

19. 146.5

191.3

101.378.822 6

52 150.02.1

20 213.1

4.6

0

9.3

202.5

97.340 2

19.046.0

189.1

99.877.921.9

52.249.82.5

19.612.9

4.6

.0

13.4

200.8

95.638 6

19.547.0

192.5

102.579.822 7

52 250.31.9

20 013.2

4.6

0

8.3

202.0

96.938 1

19.347.7

195.9

102.178.823 3

53.351.22.1

21 813.9

4.9

.0

6.1

195.9

93.434.8

19.348.4

197.7

102.379.323.0

55.353.41.9

23.014.3

5.3

2 5

-1.7

196.7

93.534.9

19.448.9

210.9

99.776.822.9

64.462.42.0

25. 114.3

5.3

—2. 1

-14.2

89.4

20.049.7

207.7

99.075.223.8

62.960.91.9

25.114.8

5.7

— . 4

Table 14.—State and Local Government Receipts and Expenditures(3.3, 3.4)

State and local government receipts

Personal tax and nontax receiptsCorporate profits tax accrualsIndirect business tax and nontax

accrualsContributions for social insurance. _ .Federal grants-in-aid

State and local government expendi-tures

Purchases of goods and servicesTransfer payments to personsNet interest paid . .Less: Current surplus of government

enterprises . .

Surplus or deficit (—), nationalincome and product accounts

106.3

18.33. 1

60 16.4

18.4

107.4

100.710.0

.2

3.4

-1.1

118.3

21.43.5

66. 17.1

20.2

118.9

110.811.5

. l

3.6

-.6

116.3

20.83.6

65.37.0

19.6

117.9

110.111.2

. 1

3.6

-1.5

119.6

21.93.4

67.17.2

20.0

119.8

111.611.7

.2

3.6

-.3

123.9

23.03.3

68.47.4

21.8

122.9

114.212.2

.2

3.7

1.0

127.3

23.63.2

70.07.5

23.0

126.8

117.412.9

.2

3.7

.5

132.0

24.23.2

71.77.7

25.1

128.7

118.713.5

.3

3.8

3.4

24.7

73.07.9

25.1

132.9

122.414. 1

.2

3.8

Table 15.—Sources and Uses of Gross Saving (5.1)

Gross private saving

Personal savingUndistributed corporate profitsCorporate inventory valuation ad-

justmentCorporate capital consumption

allowancesNoncorporate capital consumption

allowancesWage accruals less disbursements

Government surplus or deficit (— ) ,national income and productaccounts

FederalState and local . . .

Capital grants received by the UnitedStates

Gross investmentGross private domestic in vestment ..Net foreign investment ...

Statistical discrepancy.

135.9

40.424.9

—3.3

46.5

27 5.0

-7.3—6 2— 1. 1

126.2126.5-.3

-2.4

135.0

37.623.9

— 5.4

49.8

29 1.0

8.79 3

—.6

138.9139.8-.9

-4.7

130.7

33.325.2

—6 0

49.3

28 9.0

11.813 4

— 1.5

137.3139.3-2.0

-5.3

141.1

42 022.9

—3 2

50.1

29 3.0

8.08 3

— 3

143.6143.8-.1

-5.5

137.1

41 121.9

—6 5

51 0

29 7.0

7.16 11 0

139 9140.2

-4.3

140.5

44 819.4

— 5 8

52 0

30 2.0

-1.2— 1 7

5

.9

134 8133.2

1.6

-5.4

149.4

51.518.8

—4 5

53 0

30 6.0

-10.9— 14 2

3 4

.9

136 3134.3

2.0

-3.1

52.5

—5 8

54 0

31 1.0

.9

139 4136.8

2 7

Gross national product -

Personal consumption expenditures

Durable goodsNondurable goodsServices

Gross private domestic investment

Fixed investment

Nonresidential-.StructuresProducers' durable equipment _ .

Residential structuresNonfarmFarm

Change in business inventories

Net exports of goods and services

Exports .Imports

Government purchases of goods andservices

FederalState and local

122.31

118.5

103.3117.1127.1

120.4

117.5130.3111.9

129.7129.8125.9

110.9107.5

135.0

126.4144.7

128.11

123.5

106.0122.2133.1

126.2

122.8141.1115.1

137.7137.8132.3

114.6111.1

143.5

133.9153.7

127.22

122.8

105.7121.5132.3

125.4

121.6139.5114.4

137.4137.5131.1

112.7109.5

141.9

131.7152.6

128.97

124.2

106.4122.9133.8

127.1

123.9143.3115.6

138.9139.0133.6

114.6111.2

145.4

136.3154.9

130.52

125.6

107.0124.5135.5

128.0

125.1144.7116.8

139.3139.4135.1

117.7114.5

147.5

138.4156.7

132.57

127.2

107.8125.9137.3

129.6

126.8146.4118.4

140.6140.7136.7

117.5114.9

151.5

143.8158.9

133. 98

128.5

108.2127.1139.3

131.0

128.2150.0119.2

142.4142.5137.9

118.8116.2

154.6

147.0161.5

135. 43

129.6

109.0127.5141.1

133.5

130.3155.1120.4

146.1146.2141.8

118.8116.2

156.2

147.3164.2

Table 17.—Implicit Price Deflators for Gross National Product byMajor Type of Product (8.2)

Gross national product .Final sales

Goods outputDurable goodsNondurable goods

ServicesStructures

Addendum :Gross auto product .

122.31122.4

113.1108.6116.4

133.5131.3

102.4

128.11128.2

117.3111.9121.4

140.8140.8

104.7

127.22127.3

116.8111.4120.9

139.3139.9

104.4

128.97129.2

117.8112.3122.1

142.0142.7

105.0

130.52130.6

119.2113 2123.7

143.9143.7

105.6

132.57132.6

120.6114.2125.2

146.5145.7

106.6

133.98134.1

121.4114.6126.3

148.7148.5

106.5

135.43135.5

107.9

Table 18.—Implicit Price Deflators for Gross National Product bySector (8.4)

Gross national product

Private

BusinessNonfarmFarm

Households and institutions

General government

122.31 128.11 127.22 128.97 130.52 132.57

118.92 124.22 123.55 124.90 126.32 127.96

118.0 123.1 122.5 123.8 125.2 126.8118.4 123.4 122.6 124.0 125.3 126.8107.3 116.9 118.4 117.6 121.6 127.5159. 1 171. 9 j .

159.1 170.8 167.6 173.6 176.5 182.9

133.98 135.43

129.24 130.66

138.0 129.4128.2 129.7124.0 121.9

185.9 187.8

Table 19.—Gross National Product: Change From Preceding Period

ppreliminary.

Gross national product :Current dollarsConstant dollarsImplicit price deflator

Gross private product:Current dollarsConstant dollarsImplicit price deflator

Percent

9.04.84.0

8.64.93.6

7.72.84.7

7.52.94.5

Percent at annual rate

7.32.25.0

7.22.14.9

8.42.75.6

7.12.64.4

3.9-.94.9

3.6— 1.0

4.6

3.3-2.9

6.4

2.1-3.0

5.3

4.9.6

4.3

4.7.7

4.1

6.01.44.4

6.21.64.5



personal income structures varies; con-sequently, the relative importance ofchanges in transfers and Federal pay-rolls explain some of the regional andState variation in total income growthin the second quarter (See chart 7.)

In the income structure of NewEngland and the Great Lakes areas,Federal payrolls have relatively littleweight and the Federal pay raisecontributed only moderately to overallincome gains. In the Plains States,where transfer payments carry a some-what greater weight in personal incomethan they do nationally, a particularlysharp advance in transfers offset someof the weakness in the other incomecomponents. The flow of total incomewas bolstered by the increase in trans-fers more in the Plains than in anyother region.

Among the States there are wider

CHART 7

-4

Regional Changes in Personal IncomeTransfer payments and Federal Government payrollsaffected personal income significantly in all regions

Percent Change *From First to Second Quarter 1970

-2 0 2 4 <

T

UNITED STATES

i

Total

Total Excl. Transfers andFederal Goverment Payrolls

Rocky Mountain

* Seasonally adjusted


variations in the importance of trans-fers and Federal payrolls than amongregions, and changes in these incomecomponents explain much of the Statedifferences in total income change. Theadvance in Federal wage payments wasvery important in Alaska, Maryland,Virginia, District of Columbia, Hawaii,Utah, Rhode Island, Arizona, and Mis-sissippi where there are many Federalinstallations. The rise in transfers hada substantial impact in Florida andCalifornia, where there is a high con-centration of retired persons, and inRhode Island, District of Columbia,Arkansas, and Massachusetts. As aresult, the second quarter income in-crease in all of these States was wellabove the national average.

On the other hand, both transfersand Federal payrolls make up a belo\v-average share of total income in Con-necticut, Illinois, and Indiana. Addi-tionally, Federal payrolls carry littleweight in Minnesota, Vermont, Iowa,and Wisconsin. Accordingly, the totalincome advance in each of these Stateswas less than the national average.First to second quarter percent changesin personal income for each of theStates are shown in the quarterlypersonal income table.

Farming and manufacturing

Apart from the increase in socialsecurity payments and the Federal payraise, developments in agricultural earn-ings and in manufacturing explain mostof the residual second quarter regionaland State differences in personal in-come gains. Farm earnings spurted inthe Rocky Mountain and Southwestregions and fell back sharply in thePlains. In each of these areas the im-pact was reflected noticeably in thechange in total personal income. Amongthe States, large increases in farmearnings were important in the aboveaverage income gains in Colorado, Ari-zona, Mississippi, and Arkansas. Onthe other hand, each of the sevenStates which showed income dips inthe second quarter registered large de-clines in agricultural income. However,it should be noted that changes infarm income have been erratic so farthis year.

In each of the regions and in mostof the States where there was a largeand important second quarter changein agricultural earnings, there had beena change in the opposite direction inthe first quarter.

In New England and the Far Westthere were second quarter declines inmanufacturing payrolls; advances wererecorded in the Southeast and theRocky Mountain regions. In the firstquarter manufacturing payrolls in-creased moderately in New England

Table 2.—Regional Change in Income,Selected Components

United States:Total personal incomeTotal exc. transfers _ .Total exc. FederalTotal exc. transfers and Federal. __Total exc. farm - _. _Total exc. Fed., transfers, f a rm__-_

Rocky Mountain :T otal personal incomeTotal exc. transfers - _ -Total exc FederalTotal exc. transfers and FederalTotal exc. farm - - - --Total exc. Fed., transfers, farm

Southwest:Total personal incomeTotal exc transfersTotal exc Federal - - -Total exc. transfers and Federal- _ _Total exc farm - _ _ _Total exc. Fed., transfers, farm

Southeast:Total personal income _ _ _ __Total exc transfers _ _ - - -Total exc FederalTotal exc. transfers and Federal- _ _Total exc farm -Total exc. Fed., transfers, farm

Far West:Total personal incomeT otal exc transfersTotal exc FederalTotal exc. transfers and Federal- _.Total exc farm - - -Total exc. Fed., transfers, farm

Mideast:Total personal incomeTotal exc transfers --Total exc FederalTotal exc. transfers and Federal. _ _T otal exc farm - - -Total exc. Fed., transfers, farm

New England:Total personal incomeTotal exc transfers --Total exc Federal -- -Total exc. transfers and Federal- _ _Total exc farmTotal exc. Fed., transfers, fann____

Great Lakes:Total personal incomeTotal exc transfersTotal exc Federal -- - -- -Total exc. transfers and Federal- ._Total exc farm -- -Total exc. Fed., transfers, farm..--

Plains:Total personal incomeTotal exc transfersTotal exc FederalTotal exc. transfers and Federal- --Total exc farm - --Total exc. Fed., transfers, farm...

Percent change

IV-1969—1-1970

1.61.41.71.41.61.4

1.21.01.41.11.71.7

1.91.72.11.92.42.6

1.61.41.81.61.21.0

1.51.11.41.11.61.2

1.51.21.61.31.51.3

4.03.93.73.74.03.7

1.1.8

1.0.7

1.3.9

1.81.51.81.61.31.0

1-1970—11-1970

2.41.31.9. 7

2.5.8

4.73.84.02.93.51.4

3.82.93.32.32.81.0

3.42.42.81.63.31.3

3.11.92.61.32.91.1

2.31.21.9.7

2.4.8

2.0.8

1.8.6

2.1.6

1.6.5

1.3.2

1.9.5

-.6-2.1-1.1-2.7

1.7-.3


October 1970 SUEVEY OF CUEKENT BUSINESS 13

but declined in the Far West. Withinthe latter region the decline in manu-facturing since the first of the year

has been very sharp, particularly inthe State of Washington but also inOregon and California. These States

have been adversely affected by thesevere cutbacks in the aerospaceindustry and weakness in lumbering.

Table S.^Total Personal Income, by States and Regions

[Millions of dollars, seasonally adjusted at annual rates]

State and region

United States __

New England . . . .

MaineNew HampshireVermont - .. _

MassachusettsRhode Island _ . ...Connecticut .. . . .

Mideast - ...

New YorkNew Jersey .Pennsylvania .. ... .. -

DelawareMaryland- _ .District of Columbia.. ..

Great Lakes

MichiganOhio _Indiana. . ... . . .......

Illinois.. .Wisconsin ... ... .

Plains

MinnesotaIowaMissouri

North Dakota .South Dakota.NebraskaKansas

Southeast

VirginiaWest VirginiaKentucky .

TennesseeNorth CarolinaSouth Carolina.- ___ - _

GeorgiaFloridaAlabama .

MississippiLouisiana _Arkansas

Southwest . _ _ _

Oklahoma .Texas

New MexicoArizona -

Rocky Mountain.. _ __

Montana. _ _IdahoWyoming

ColoradoUtah

Far West

Washington _Oregon _ _ -

NevadaCalifornia

AlaskaHawaii

I

610, 485

38, 924

2,4962,0361,152

18, 8952,917

11,428

145, 972

67, 28524, 99036, 468

1,79612, 2033,230

129, 932

28, 46633, 15315, 714

39, 77912, 820

46, 901

10, 8708,182

13, 618

1,5641,6514,2926,724

103,819

12, 2854, 1347,674

9,09611, 9865,643

11 33916 8007,510

4 4038 8464 103

42 228

6 48828 943

2 4194 378

13,180

1 9071 733

908

5 9882 644

86 204

10 5015 947

1 52668 230

9982,327

1

II

618, 361

39, 470

2,5302,0701,160

19, 2002,936

11,574

147, 917

68, 15325, 49136, 632

1,85012,4473,344

130, 839

28, 85633, 07715, 687

40, 32912, 890

47, 641

11,0128,379

13, 726

1,6461,7024,4446,732

105,097

12 5014 1697,578

9 18512, 1265,640

11 41917 2197 579

4 4878 9464 248

43 184

6 51729 678

2 4794 510

13,334

1 9381 737

913

6 0902 656

87 493

10 7616 050

1 55669 126

1,0122,374

967

III

630, 882

40, 322

2,5872,1101,193

19, 5043,036

11, 892

150, 346

69, 42425, 86937, 202

1,88412, 6503,317

134,112

29, 80633, 94015, 986

41, 14413, 236

48, 772

11, 3328,827

13, 922

1,5921,7504,4066,943

106 799

12 7624 2307 784

9 31412 272

5 780

11 63017 7307 684

4 3588 9884 267

44 115

6 70730 366

2 4504 592

13 430

1 8641 840

902

6 1422 682

89 504

11 0526 185

1 61670 651

1 0282 454

IV

642, 225

41, 003

2,6232,1521,219

19, 8283,099

12, 082

153, 284

70, 66126,41937, 844

1,92613, 0743,360

135, 287

29, 44134, 61416,257

41, 54413, 431

49, 229

11, 5018,702

13, 988

1,5761,8184,5127,132

110 051

13 4124 2807 944

9 55412 9735 967

11 82618 0827 825

4 4749 3894 325

44 890

6 94630 818

2 5064 620

13 811

1 9501 870

997

6 3002 694

91 084

11 3736 336

1 63871 737

1 0662 520

I

659, 809

42, 007

2,6942,2261,260

20, 4903,179

12, 158

157, 519

72, 93727, 09838, 783

1,96513, 3593,377

139, 833

31, 18635, 73516, 786

42, 46513, 661

50, 563

11, 7368,915

14, 581

1,6091,8684,5287,326

112 583

13 5404 2868 122

9 73513 0866 139

12 18618 8708 118

4 6929 5534' 256

45 830

6 9513l' 590

2 5854 704

13 986

1 9601 795

963

6 5462 722

93 851

11 7206 435

1 70673 990

1 0962 541

1

II

676, 695

43, 115

2,7322,2611,297

20, 9533,266

12, 606

161, 159

74, 41527, 75639, 471

2,03813, 9723,507

142, 701

31, 77636, 66117, 064

43, 17214, 028

51, 327

12,0199,085

14 850

1,5561,8704,6367,311

116 483

13 9854 4168 424

10 08013 5706,361

12 63819 5818 230

4 9089 7124 578

47 320

6 96739 754

2 6154 984

14 451

2 0101 888

970

6 7232 860

96 362

12 0026 580

1 73876 042

1 1062 671

968

III

693, 176

43, 971

2,7842,3201,327

21, 2833,281

12, 976

164, 570

76, 02528, 32240, 299

2,08114, 2523,591

145, 552

32, 55037, 25317, 391

43, 98014, 378

52, 857

12t4829,416

15,211

1,6241 8534,5897,682

119 341

14 4064 4768 590

10 42813 9026 472

12 91420 2528 412

4 8909 9074 692

49 288

7 42833 972

2 6985 190

14 761

1 9991 9031 010

6 9102 939

98 910

12 2326 730

1 81378 135

1 1262 800

IV

708, 086

45, 062

2,8602,3931,356

21,8393,388

13, 226

168, 163

77, 83129, 05240, 943

2,10814, 6093,620

149,381

33, 37638, 06317, 950

45, 23014, 762

53,781

12 7949,077

15 553

1,8411 9104 8447,762

121 545

14 6854 5278 776

10 61113 9856 554

13 38520 5788 553

4 99410 0634 834

50 123

7 45634' 668

2 7005 299

15 362

2 120I 9581 050

7 2352 999

100 694

12 4806 907

1 87579 432

1 1482 827

I

721, 552

45, 729

2,9032,4241,374

22, 2123,414

13, 402

170, 551

78, 95929, 10342, 071

2,14414, 6203,654

152 749

33 99239 08818, 337

46, 36914, 963

54 780

13 1119,444

15 764

1 7661 9745 0107 711

124 908

14 8094 5768 956

10 88914 5636 786

13 77221 3678*887

5 291lo' 1424 870

50 871

7 41335 163

2 8555 440

15 607

2 1022 0471 036

7 3893 033

102 249

12 6666 974

1 89680 713

1 1992 909

1

II

736, 852

46, 754

2,9692,4571,404

22, 7843,507

13, 633

174, 297

80, 59929, 96242,711

2,16615, 1603, 699

155, 080

34, 62339, 75318, 652

46, 85715, 195

55,381

13, 1189,760

15, 736

1,8361,9255,1827,824

127 672

15 2614 7189 134

11 11414 9336 950

14 10721 9589 000

5 24410 285*4 968

52 337

7 70136 225

2 8175 594

15 985

2 0852 1501 067

7 5853' 098

105 141

13 0507 194

1 99582 902

1 2412 964

969

III

753, 503

47, 564

3,0022,5041,442

23, 1773,521

13, 918

178, 013

82, 23130, 59643, 551

2,23915, 5913,805

158, 093

35, 38740, 51519, 048

47, 58015, 563

57, 428

13, 58410, 19916 356

1,8811,9635,1748,271

131 158

15 8064 7639 340

11 27315 4287 151

14 40222 9629 227

5 21910 5625 025

53 876

8 08236 997

2 9365* 861

16 168

2 2242 1231 075

7 5903' 156

106 828

13 2067*392

2 08484* 146

1 2623 113

IV

766, 006

47, 642

3,0732,5701,483

22,7163,618

14, 182

181,936

83, 74631, 58744, 396

2,32115,9723,914

161, 032

36, 03741,22419, 436

48, 55415, 781

58,710

13, 97910, 07616 483

1,9262 1165,5538,577

132 221

15 8884 8849 378

11 48015 1967 184

14 73193 2969 350

5 18210 6644 988

54 401

8 10437 448

9 9105 939

16 507

2 2782 1621 113

7 7143 240

108 976

13 4487 484

2 17485 870

1 3293 252

19

I

778,447

49, 530

3,1752,6081,529

23, 9533,626

14, 639

184, 666

85, 54931, 73845, 166

2,27415, 9833,956

162,819

35, 37242, 09319, 391

49, 83616, 127

59, 749

14, 17910, 28317 024

1,9422 2065,5848,531

134 366

16 1034 9159 460

11 73315 8387 361

14 71023 2259 675

5 46510 8385 043

55 421

8 22638 164

3 0475 984

16 707

2 2512 1731 163

7 8453 275

110 563

13 5247 521

2 14487 374

1 3723 254

70

II

797,082

50, 506

3,2402,6541,545

24, 7553,749

14, 563

188, 997

87, 27832, 51345, 846

2,34616, 8374,177

165, 391

36, 62942, 60719,710

50, 05716, 388

59, 384

14, 10910, 40216, 922

1,8552,0875,6518,358

138 993

16 8405 0409 911

12 05016 3007,592

15 21524 1749 757

5 74511 0535 316

57 539

8 30539 756

3 1336 345

17 485

2 2972 2821 133

8 3733 400

113 971

13 7717 709

2 23390 258

1 4253 391

PercentchangeI-II 1970

2.4

2.0

2.11.71.1

3.33.4

—.5

2.3

2.02.41.5

3.25.35.6

1.6

3. 61.21.6

.41.6

-.6

-.51.2

-.6

-4.4-5.4

1.2-2.0

3 4

4 62 54 8

2 72 93. 1

3 44 i

9

5 12 05 4

3 8

1 04 2

2 86 0

4 7

2 05 02 5

6 73 8

3 1

1 82 5

4 23 3

3 84.2

NOTE.—Quarterly totals for the State personal income series will not agree with the personalincome measure carried in the national income and product accounts since the latter includesincome disbursed to Government personnel stationed abroad. 1967-69 estimates have beenrevised.

Source: U.S. Department of Commerce, Office of Business Economics.


By ALLAN H. YOUNG AND CLAIBORNE M. BALL

Industrial Impacts oi Residential Constructionand Mobile Home Production

This article analyzes the materials andservices required for producing single-family houses, multi-unit structures,and mobile homes. The production re-quirements are based on OBE's recentlycompleted input-output tables for 1963.To the extent that the Nation continuesto meet its housing needs with conven-tional construction and mobile homeproduction, these requirements suggestthe industrial impacts that can beexpected in the 1970's.

iNPUT-OUTPUT analysis is a toolfor analyzing the industrial structure ofthe economy by tracing the relationshipbetween the output of each industry andthe inputs required by that industryfrom other industries. This article illus-trates input-output analysis by com-paring the industrial requirements forproducing several different types ofdwelling units: a single-family house,

an apartment in each of three types ofmulti-unit structures, and a mobilehome. The comparisons, which arebased on OBE's input-output study for1963, pinpoint the industries whosesales are strongly affected by residentialconstruction and mobile home produc-tion. Sales of some industries are foundto be strongly affected by each type ofhousing, while sales of other industriesare affected by only one or two types.A unique feature of input-output anal-ysis is that it takes into account notonly the effect that an industry has onits direct suppliers, but also on thoseindustries that provide inputs to thesuppliers.1

The industrial requirements describedin this article reflect the technology andprice structure prevailing in 1963. It isunlikely that technology and relativeprices have changed enough since 1963to destroy the usefulness of these data.With regard to the future, these figures

suggest the industrial impacts that canbe expected if the Nation's housingneeds in the 1970's are met by conven-tional construction or mobile homeproduction. However, to the extentthat future housing needs are met withtypes of units not included in thisarticle, such as factory-built modules,

1. The 1963 input-output study is described in "InputOutput Structure of the U.S. Economy: 1963" in the No.vember 1969 issue of the SURVEY OF CURRENT BUSINESSThat article presented the 1963 input-output tables aggre-gated to 85 industries. More detailed tables showing 367industries are contained in Input-Output Structure of theU.S. Economy: 1963, Volume 1, Transactions Data for DetailedIndustries; Volume 2, Direct Requirements for Detailed In-dustries; and Volume 3, Total Requirements for DetailedIndustries (available for $1.75 each from the GovernmentPrinting Office). Additional detail for 32 types of new con-struction, including the residential types shown in thisarticle, and 17 types of maintenance and repair construction,and for about 70 manufacturing industries is contained in atransactions table for 478 industries that is available onmagnetic tape. Inquiries about purchase of the tapes shouldbe directed to OBE.

The tables in this article show only the industries mostaffected in terms of their dollar sales by the demands createdby constructing dwelling units. Listings of the impacts ofresidential housing on all 367 industries in the input-outputtable may be obtained on request.

Table 1.—Direct Requirements Per Dwelling Unit in 1963

[Dollars]

Single-family house

A. Materials1. Millwork2. Ready mixed concrete3. Sawmills & planing mills4. Prefabricated wood structures5. Veneer & plywood-6. Metal doors, sash & trim7. Blast furnaces & basic steel products8. Concrete products, n.e.c9. Forest, greenhouse & nursery products..

10. Heating equipment, except electrical...11. Allother

B. Services...1. Wholesale trade2. Retail trade3. Miscellaneous professional services..4. Real estate5. Railroads & related services6. Allother...

C. Value added

D. Total (A+B+C).

6,044544509485317304268221209185178

2,824

3,359981676462298259683

5,685

15,088

Two- to four-unit structure

A. Materials.1. Sawmills & planing mills2. Ready mixed concrete3. Veneer & plywood4. Metal doors, sash & trim5. Millwork6. Blast furnaces & basic steel products7. Wood household furniture8. Heating equipment, except electrical9. Concrete block & brick

10. Forest, greenhouse & nursery products11. Allother

B. Services1. Wholesale trade2. Retail trade3. Miscellaneous professional services4. Railroads & related services5. Motor freight transportation & warehousing.6. Allother

C. Value added

D. Total (A+B+C).

3,8004833182031811651501351219997

1,848

2,327740511382208140346

3,871

9,998

Walk-up apartment

4,107260255193183181174152136132131

2,310

1,993482463390139130389

C. Valueadded 3,898

D. Total (A+B+C) 9,998

Materials-1. Ready mixed concrete2. Metal doors, sash & trim3. Sawmills & planing mills4. Sheet metal work5. Millwork6. Blast frunaces & basic steel products...7. Forest, greenhouse & nursery products -8. Architectural metal work9. Gypsum products

10. Heating equipment, ecxept electrical...11. Allother

B. Services1. Wholesale trade2. Retail trade3. Miscellaneous professional services.4. Railroads & related services5. Motor freight transoportation6. Allother

14



the data presented here would have to besupplemented with data on the inputsto such new processes.

Input-output analysisInput-output analysis translates the

demand for goods and services by finalusers into the requirements placeddirectly and indirectly on each industry.The data required for making thistranslation are provided by OBE's 1963input-output study. The results of thestudy are contained in three basictables—the transactions table, the di-rect requirements table, and the totalrequirements table.

The transactions table shows theflows of goods and services amongindustries and to the final users on abasis that is conceptually and statisti-cally consistent with the national incomeand product accounts. The direct re-quirements table relates each of anindustry's inputs to its total output;it shows the amounts that the industryrequires from each other industry asdirect inputs to produce a dollar of itsoutput. The total requirements tableshows the amounts required by anindustry both directly and indirectlyfrom other industries to deliver a dollarof its output to a final user. Thetechnical note at the end of this articledescribes how these basic tables wereused in estimating the industrial im-pacts of residential construction andmobile home production.2

Direct requirements

Table 1 shows the direct require-ments in 1963 for producing the averagesized unit of each of five types of dwell-ing unit. The five types are: a single-family house, a unit in a two- to four-unit structure, a unit in a walk-upstructure (three stories or less), a unitin a high-rise structure (four stories ormore), and a mobile home. The tableshows the total cost of producing eachtype of unit and the composition of thetotal in terms of the value of purchasedgoods and services and value added(employee compensation, profits, etc.).The table also shows the 10 industrieswith the largest sales of goods for usein producing the various types of unitsand the five industries with the largestsales of services. The 15 industriesshown for each type of unit account forwell over half of the purchased inputs;the remainder is supplied by about 120additional industries for residentialstructures and 70 additional industriesfor mobile homes.

On average, the cost of producing asingle-family house in 1963 was aboutIK to 11A times the cost of producing aunit in the three types of multi-unitstructures and 3}£ times the cost ofproducing a mobile home. The primary

2. The flows of goods and services among industries re-corded in the transactions table represent purchases madeon current account. As a result, the direct and total require-ments computed from the transactions table also representpurchases on current account. Requirements for plant andequipment are excluded from the analysis.

Table 1.—Direct Requirements Per Dwelling Unit in 1963—Continued

[Dollars]

High-rise apartment

Materials1. Ready mixed concrete2. Metal doors, sash & trim3. Sheet metal work4. Miscellaneous metal work5. Blast furnaces & basic steel products..6. Architectural metal work7. Wiring devices8. Gypsum products9. Elevators & moving stairways

10. Pipe, valves & pipe fittings11. Allother

B. Services1. Miscellaneous professional services2. Wholesale trade3. Retail trade4. Motor freight transportation & ware-

housing5. Railroads & related services6. Allother

4,885550498293264176153152149145120

2,385

2,141471452449

157116496

C. Valueadded 4,615

D. Total (A+B+C) 11,641

Mobile home

A. Materials 2,2722682062021941441411121079178729

B. Services 1,148

1. Veneer & plywood..2. Millwork3. Motor vehicles & parts4. Aluminum rolling & drawing5. Heating equipment, except electrical..6. Metal doors, sash & trim7. Sawmills & planing mills8. Blast fur maces & basic steel products..9. Electric housewares, fans

10. Coated fabrics not rubberized11. Allother

567315565149110

C. Valueadded 1,123

D. Total (A+B+C) 4,543

1. Retail trade-2. Wholesale trade3. Railroads & related services4. Motor freight transportation5. Business travel entertainment & gifts..6. Allother

reason for the cost difference is thedifference in size. Single-family housesaveraged about 1,400 square feet in1963 compared with 550 square feetfor mobile homes; the scanty evidenceavailable concerning apartments sug-gests an average of about 900 squarefeet for units in multi-unit structures.(Data are unavailable for estimating theaverage sized unit in each type ofmulti-unit structure.) It is importantthat these differences in unit size, andhence in production cost, be recognizedwhen comparing the amounts of specificmaterial or service inputs shown for thevarious types of unit.

Among the different types of dwellingunits there are marked differences inthe composition of the direct materialinputs. The largest suppliers of goodsto single-family construction are fourwood products industries and the ready-mixed concrete industry. These arefollowed in order of importance bythree metal products industries, aconcrete products industry, and thegreen-house and nursery products in-dustry (whose output is used in land-scaping). In contrast, there is no woodproducts industry among the top 10suppliers of materials for high-riseapartments: with the exception ofready-mixed concrete (which heads thelist) and gypsum products, the largestsuppliers are metal products industries.

The top 10 suppliers to the mobilehome industry include four industriesthat are not among the top 10 for anyof the construction types. These aremotor vehicles and parts, aluminumrolling and drawing, electric housewaresand fans, and coated fabrics. A rathermore suprising finding is that thetwo largest direct suppliers are woodproducts industries. This reflects thefact that the structural system of amobile home is much like that of aframe house: the floor joists, studs, androof joists are made of wood andthe interior wall panels are usuallyplywood or composition board.

There is greater similarity amongthe types of units in the industrialcomposition of the direct inputs ofthe service industries. Wholesale andretail trade are the largest suppliersof services to each type of construe-


16

tion except high-rise apartments, andalso to mobile home production. Onthe high-rise list, these two industriesare outranked by miscellaneous pro-fessional services, consisting mainlyof architectural services. Other leadingsuppliers of services are railroad trans-portation, which is among the top fivefor all types of dwellings, and motorfreight transportation which is amongthe top five for all types except single-family houses (in which case it is re-placed by real estate).

In general, the contributions ofwholesale and retail trade are largerthan the input from any goods produc-ing industry. In the input-output tablesthese trade services are measured bythe trade margins—selling expensesand profits—involved in the distribu-tion of goods. Lumber yards andbuilding material dealers which arevery large suppliers to constructionare classified as retail establishments.

The inputs of trade, transportation,and real estate shown in table 1 includecertain items that are shown in thepublished input-output tables as beingpurchased directly by final demandrather than as inputs to the construc-tion or mobile home industry. Theseitems were included among the inputsin table 1 so as to measure, as nearlyas possible, the total cost of thedwelling unit to the final purchaser.The inputs of trade and transportationto mobile homes have been increasedto include the trade margin on thesale of the unit to its final purchaserand the transportation from factoryto site. The real estate input to the

SURVEY OF CURRENT BUSINESS

construction of single-family units hasbeen increased to include the com-mission on the sale of the new home.It should be noted that neither theconstruction nor mobile home inputsinclude items such as closing costs,finance charges, or land costs that areusually associated with the purchaseof a new dwelling.

Total requirements

Table 2 shows the total requirementsfor producing each type of unit. Totalrequirements from an industry includeboth its direct sales to constructionand mobile home production, alreadydiscussed, and its sales to other in-dustries that are generated indirectlyby construction or mobile home pro-duction. The table identifies the top10 producers of goods and the top fiveservice producers. Each industry'sdirect sales are shown in table 2 inparentheses following the industry title.The difference between an industry'sdirect sales and its total sales representsthe sales generated by indirect effects;the unique contribution of input-outputanalysis is that it takes account ofthese indirect links that relate in-dustries to the filling of final demands.

Among the leading goods producingindustries shown in table 2 are severalwhose indirect sales outweigh theirdirect sales to residential constructionor mobile home production. The loggingindustry has no direct sales at all;however, its sales to wood productsindustries put it among the top 10 intotal sales generated by mobile homeproduction and by construction ofsingle-family houses and of units in

October 1970

two- to four-unit structures. The pri-mary aluminum industry also has nodirect sales but is among the leaders intotal sales generated by mobile homeproduction, and the aluminum rollingand drawing industry, with negligibledirect sales, is among the leaders intotal sales generated by high-riseconstruction.

The total sales of the blast furnaceand basic steel products industry arethree times as large as direct sales inthe case of single-family constructionand mobile home production, and fivetimes as large in the case of high-riseconstruction. Other industries whoseindirect sales are as large or larger thantheir direct sales, for one or more of thedwelling unit types, include sawmillsand planing mills, hydraulic cement,stone and clay mining and quarrying,and petroleum refining and relatedproducts.

On the other hand, several industriesare among the leaders in total salesbecause of the size of their direct sales.These industries include millwork,ready-mixed concrete, and metal doors,sash and trim.

Among the service industries, in-direct sales outweigh direct sales in thereal estate industry and, in the case ofhigh-rise apartments and mobile homes,in the transportation industries. Theindirect sales of the real estate industryare largely the rental of space to firmsthat are meeting either direct or in-direct demands of construction. Itshould be noted that this input tendsto be a fixed cost which will not varyproportionately with the output ofdwelling units.

Table 2.—Total Requirements Per Dwelling Unit in 1963

[Dollars]

Single-family house Two- to four-unit structure Walk-up apartment

A. Materials:1. Sawmills & planing mills (485) 9392. Blast furnaces & basic steel products (221).. _ 6583. Millwork (544) 5664. Ready-mixed concrete (509) 5415. Veneer & plywood (304) 4976. Logging camps & logging contractors (0) 4357. Prefabricated wood structures (317) 3238. Metal doors, sash & trim (268) 2779. Cement, hydraulic (85) 249

10. Forest, greenhouse & nursery products (185)._ 237

B, Services:1. Wholesale trade (981) 1,3782. Retail trade (676) 7933. Real estate (298) 6854. Miscellaneous professional services (462) 5845. Railroads & related services (259) 479

A. Materials:1. Sawmills & planing mills (483)2. Blast furnaces & basic steel products (150)..3. Ready-mixed concrete (318)4. Logging camps & logging contractors (0)5. Veneer & plywood (203)6. Metal doors, sash & trim (181)7. Petroleum refining & related products (38)..8. Millwork (165)9. Cement, hydraulic (62)

10. Stone & clay mining & quarrying (34)

B. Services:1. Wholesale trade (740)2. Retail trade (511)3. Miscellaneous professional services (382). _.4. Railroads & related services (208)5. Real estate (39)

709422337312301187183176160143

991586467344

A. Materials:1. Blast furnaces & basic steel products (174)._ _2. Sawmills & planing mills (193)3. Ready-mixed concrete (260)4. Metal doors, sash & trim (255)5. Petroleum refining & related products (62)...6. Sheet metal work (183) _ . _7. Millwork (181)8. Forest, greenhouse & nursery products (152)..9. Stone & clay mining & quarrying (41)

10. Industrial inorganic & organic chemicals (2)..

B. Services:1. Wholesale trade (482)2. Retail trade (463) ;3. Miscellaneous professional services (390)4. Real estate (58)5. Railroads & related services (139)

597327282270210199188173158153

752540473316274

NOTE.—Amounts in parentheses represent the value of direct requirements.


October 1970

Industrial markets

Table 3 illustrates how input-outputanalysis provides information on therelationship between final demand andan industry's sales to its various cus-tomer industries. For two selected in-dustries—plastics materials and resins,and railroads—the table shows the totalsales generated by the production ofeach type of dwelling unit and the dis-tribution of the total between the directsales to the construction and mobilehome industries and the sales to otherindustries. This type of information isparticularly useful in such applicationsof input-output analysis as market re-search by a firm that is only remotelylinked to a final demand, such as hous-ing, but nevertheless interested in de-termining which markets expand orcontract in line with shifts in that finaldemand sector.

To obtain the distribution of an in-dustry's sales among its customers in-volves two computations which arebriefly described here for the plasticsmaterials and resins industry. First,the total requirements placed on eachindustry as a result of producing onedwelling unit are computed. Second, thedirect requirements that each industryplaces on the plastic materials industryin order to meet its total requirementsfrom construction or mobile homes iscomputed. These direct requirementsare the total sales by the plastics ma-terials industry to each of its customersas a result of the production of onedwelling unit.

Part A of table 3 shows, for example,that the total requirement placed on

SUEVEY OF OUEEENT BUSINESS 17

Table 3.—Sales of Two Selected Industries to Their Customers Per Dwelling Unit in 1963[Dollars]

A. Sales of the plastics materials and resins industry to other industries

Type of unit

Single-family houseTwo- to four-unit

structureWalk-up apartmentHigh-rise apartmentMobile home

Total

96

64606950

Newcon-

struction

0

0000

Mobilehomes

0

0000

Coatedfabrics notrubberized

1

1118

Veneerand

plywood

4

2113

Paintsand alliedproducts

13

8895

Miscella-neousplastic

products

43

29223021

Asbestosproducts

9

774(*)

Allotherindus-tries

26

17212413

B. Sales of the railroads and related services industry to other industries

Type of unit

Single-family houseTwo- to four-unit

structure .Walk-up apartmentHigh-rise apartmentMobile home

Total

479

344274284128

Newcon-

struction

259

208139116

0

Mobilehomes

0

000

56

Sawmillsand planing

mills

13

10423

Industrialinorganic,

organicchemicals

3

2231

Ready-mixed

concrete

18

111019(*)

Blast fur-naces andbasic steelproducts

20

13182610

Primaryalumi-num

2

2244

Allotherindus-tries

164

9899

11454

*Less than $0.50.

the plastics materials and resins indus-try by the construction of a single-family house in 1963 was $96. Almostone-half of this amount was sold to themiscellaneous plastics products indus-try. Sales to the paint industry andasbestos products industry also ac-count for substantial parts of the total.

The distribution of the sales of therailroad industry to its customers areshown in part B of the table. The dis-tribution of railroad sales differsnoticeably from that for the plasticsmaterials industry in that the largestportion of sales are to the constructionand mobile home industries ratherthan to intermediate industries. As canbe seen, the construction of a single-

Table 2.—Total Requirements Per Dwelling Unit in 1963—Continued

[Dollars]

High-rise apartment

A. Materials1. Blast furnaces & basic steel products (176)...2. Ready-mixed concrete (550)3. Metal doors, sash & trim (498)4. Sheet metal work (293)5. Miscellaneous metal work (264)6. Cement, hydraulic (74)7. Aluminum rolling & drawing (1)8. Stone & clay mining & quarrying (28)9. Elevators & moving stairways (145)

10. Petroleum refining & related products (22)..

B. Services1. Wholesale trade (452)2. Miscellaneous professional services (471) .3. Retail trade (449)4. Real estate (74)5. Motor freight transportation (157)

852572527319282229193184180173

764568538361328

Mobile home

A. Materials1. Veneer & plywood (268) 3552. Motor vehicles & parts (202) 3273. Blast furnaces & basic steel products (107) 3154. Aluminum rolling & drawing (194) 2675. Sawmills & planing mills (112) 2196. Millwork (206) 2147. Primary aluminum (0) 1618. Heating equipment, except electrical (144) 1529. Logging camps & contractors (0) 150

10. Metal doors, sash & trim (141) 146

B. Services1. Retail trade (567) 6042. Wholesale trade (315) 4733. Real estate (25) 1644. Railroads & related services (56) 1285. Motor freight transportation (51) 114

family house generates total railroadsales of $479; over one-half of thisamount consists of transportation serv-ices sold directly to the constructionindustry.

The table pinpoints several marketsin which the impacts vary greatly bytype of dwelling unit—information thatwould be particularly useful to a firm inplanning its marketing strategy. Forexample, the sales of the plasticsmaterials and resins industry to thecoated fabrics industry are affectedmuch more by the production of amobile home than by any other type ofunit; sales to the paint and alliedproducts industry, however, are affectedthe most by the construction of a single-family house.

Technical Note

Direct requirements per dollar of output ofeach type of residential construction werederived from the transactions table at the478-industry level. In that table, each of thefour types of construction covered in thisarticle is shown as a separate industry (seefootnote 1). As explained in the text, thedirect requirements for a single-family housewere increased to include the real estatecommission.

Direct requirements per dollar of output ofmobile homes were based on those for thetrailer coach industry (1-0 61.06/SIC 3791)in the direct requirements table at the 367-

(Continued on page 38)

404-263 O - 70 - 3Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Sales of Foreign Affiliates of U.S. Firms,1961-65,1967 and 1968

By R. DAVID BELLI

Foreign manufacturing affiliates ofU.S. firms increased sales by 12 percentin 1968 to $59.7 billion, about the sameannual rate of increase recorded from1965 to 1967. Sales by mining affiliatesrose 16 percent in 1968 to $5.3 billion.

OALES of foreign manufacturing affili-ates ot U.S. firms continued theirstrong expansion in 1968 with anincrease of 12 percent to a level of$59.7 billion. The rise matched theaverage annual increase recorded from1965 to 1967. (Sales data for 1966 arecurrently not available.1) The volumeof sales in 1968 was almost double thelevel of 1963. Sales of mining affiliates

•••••••••••••I CHART

Sales of Foreign Manufacturing AffiliatesBillion $

60 -

50 -

40 -

30 -

20 -

10 -

Total

Exported toUnited States

Exported toOther

Countries

Sold Locally

1963 64 65 66 67 68


18

reached $5.3 billion in 1968, an increaseof 16 percent over 1967.

As foreign demand for manufacturedgoods grew in recent years, U.S. firmsresponded, in part, by establishingor expanding manufacturing affiliatesabroad. Recent data on plant and equip-ment expenditures by foreign affiliatesof U.S. firms indicate sustained expan-sion, a tendency encouraged by thecontinued growth of foreign economies.t

This article presents the latest avail-able data on sales by foreign manufac-turing affiliates of U.S. firms, classifiedby country (table 1), by industry andarea (table 2), and by destination (table3). More limited data is also presented

1. For purpose of comparison, the average annual rate ofgrowth in affiliates' sales from 1965 to 1967 is computed; itrepresents the annual rate of growth that would have beennecessary! n 1966 and in 1967 to move from 1965 sales to 1967sales.

for sales of mining affiliates abroad(table 4).

Manufacturing

With few exceptions, substantial salesgrowth has been registered by U.S.manufacturing affiliates in all areas ofthe world in recent years. The percentdistribution of sales by major areachanged little from 1965 to 1968. In thelatter year, affiliates in Western Europeaccounted for better than 43 percent ofthe total, Canada 31 percent, LatinAmerican more than 13 percent, andall other areas about 13 percent.

In Western Europe, sales of foreignmanufacturing affiliates rose 12 percentto $25.8 billion in 1968, a rate of growthslightly higher than the 11 percentaverage annual increase in the preceding

Table 1.—Sales of Foreign Manufacturing Affiliates, by Selected countries, 1961-65, 1967,1968

[Million of dollars]

All areas

Canada

Latin American Republics and other Western HemisphereArgentina . . .BrazilMexico --- --VenezuelaOther

EuropeUnited7 KingdomEuropean Economic Community

Belgium, Netherlands, and Luxembourg . .FranceGermany . .Italy

Other

Other areas --Japan _..Australia, New Zealand, and South Africa .

AustraliaNew Zealand. . _ .South Africa

Other Africa and Middle East...Other Asia and Pacific

IndiaPhilippinesOther

1961

25 061

8 429

3,597872915835375600

10 7805 0704 805

7601 2552 265

525905

2,255380

n.s.s.1 060n s s

335

n.s sn.s.sn s s

160n s s

1962

27 923

9 196

3,967837

1 0951 005

380650

12 1205 2905 770

8501 6452 600

6751,060

2,640430

n.s.s.1 350n s s

380

n.s sn.s s.n s s

155n s s

1963

31 809

10 199

4,250880

1 1001 140

455675

14 0455 9187*002'990

2 0033 130

8791 125

3 315515

n.s s.1 700n s s

470

n s sn s sn s s

180n s s

1964

37 438

11 620

4,9511 1501 0201 465

555761

16 6536 8718 6831 3352 4863 7401 1221 099

4 214710

2 8902 090

230570

64550214230106

1965

42 317

13 349

5,5261 4501 1201 574

617765

18 6857 5219 gso1 5742 6484 3561 2721 314

4 757980

3 0762 235

247594

73628270250108

1967

53 151

16 585

7,1281 2671 7502 150

8601 101

23 0809 213

12 0021 9123 4104 9821 6981 865

6 3581 6003 7332 744

234755

176849250345254

1968

59 67

18 54

7,961 332 012*46

*951 20

25 839 60

13 922 443 915 611 952*31

7 321 984*133 09

2082

191 01

*304130

N.s.s. Not shown separately.



2 years. Strong growth was registered inthe Common Market countries with arise of 16 percent to $13.9 billion. Salesby affiliates in the Benelux countriesexpanded at a particularly fast pace.A considerably slower rise was recordedby affiliates in the United Kingdom,with an increase of only 4 percent to$9.6 billion. However, this slowdownlargely reflected the devaluation of theBritish pound in the fall of 1967 whichlowered the dollar value of 1968 sales ofaffiliates operating in the United King-dom. (Calculated in sterling, sales rosemuch faster.) Manufacturing affiliates inall other European countries increasedtheir sales by a substantial 24 percent in1968 to $2.3 billion.

Sales of foreign affiliates in Canadarose 12 percent in 1968 to $18.5 billion.Growth was particularly strong formanufacturers of transportation equip-ment. The U.S.-Canadian automotiveagreement of 1965 has encouraged U.S.automotive manufacturers to produceautomobiles in Canada for sale in U.S.markets. In 1968, sales by Canadianaffiliates manufacturing transportationequipment increased $1.0 billion, andabout 40 percent of their total saleswas exported to the United States.

All other Canadian manufacturingaffiliates registered a sales gain of 8percent.

Latin American affiliates increasedsales by 12 percent in 1968, somewhatbelow the average annual increase of 14percent in the earlier 2 years. Sales byaffiliates in Brazil, Mexico, and Vene-zuela have risen substantially since1965, but the 1968 increase was de-cidedly slower than the average rise forthe preceding 2 years.

In Asia and Africa, sales of affiliatesrose 15 percent to $7.3 billion, with mostof the increase registered in Australiaand Japan. Growth in Japan has beenparticularly strong in recent years, assales by affiliates there doubled duringthe 3 years ending in 1968.

Industry breakdown

The substantial increase in sales offoreign affiliates since 1965 has beenspread not only through all areas of theworld, but also through all majormanufacturing industry divisions. Salesby affiliates in the chemical industryreached $10.2 billion in 1968, an

increase of 15 percent for that year.Manufacturers of primary and fabric-cated metals also registered a 15 percentgain in 1968. For affiliates in bothindustries, the rate of expansion wasvery close to the average annualincrease in the preceding 2 years.Foreign affiliates manufacturing trans-portation equipment continue to leadthose in any other industry in total sales.In 1968, their sales rose 13 percent to$14.5 billion. Most of the increase wasrecorded by Canadian affiliates. Salesby manufacturers of nonelectrical ma-chinery (including computers) rose 11percent. This increase was considerably

slower than the 17 percent averageannual rise from 1965 to 1967.

Destination of sales

There has been a significant increasein U.S. imports of goods produced byU.S.-owned foreign affiliates (chart 8).Such imports amounted to $4.7 billionor 8 percent of total affiliates' sales in1968, compared with $1.8 billion and 4percent of sales in 1965. The Canadianautomotive agreement has given themajor impetus to the percentage in-crease. In 1968, exports to the UnitedStates from Canadian affiliates manu-

Table 2.—Sales of Foreign Manufacturing Affiliates, by Industry and Area, 1961-65, 1967,1968

[Millions of dollars]

All areas :196119621963 . -1964 -.1965

1967 .«1968

Canada :1961196219631964 .1965

19671968

Latin American Republics &other Western Hemisphere :

19611962 . .-1963 . . .19641965

19671968 - -

Europe :19611962196319641965

19671968 - - -

United Kingdom :19641965

19671968 _ -

European Economic Com-munity :

19641965

1967 _ -1968

Other :19641965

19671968

Other areas :196119621963 _19641965

19671968 .

Manu-factur-

ingtotal

25, 06127, 92331, 80937, 43842, 317

53 15159, 676

8,4299,196

10, 19911, 62013, 349

16, 58518,548

3,5973,9674,2504,9515,526

7,1287,966

10, 78012, 12014,04516, 65318, 685

23, 08025, 835

6,8717,521

9,2139,604

8,6839,850

12,00213, 921

1,0991,314

1,8652,310

2,2552,6403,3154,2144,757

6,3587,327

Foodprod-ucts

3,1953,3103,4623,6574 015

5 0985,366

095,135,182,274,325

1 5521 582

730750815775867

1,3501,490

1,1101,1851,1901,3081,495

1,7461,822

613730

811783

598665

779865

97100

156174

260240275300328

450472

Paperand

alliedprod-ucts

1,0601,1801,3421,5951 803

2 1722 534

870945

1,0421,2121 349

1 5021 680

85100130145178

237301

7080

105148166

252319

93102

127140

5462

116160

12

919

35556590

110

181234

Chem-icals

3,8904,4005,1305,9036 881

8 85710, 215

1,3151,2951,4001,5351 690

1 8882,123

690880

1,0601 2391,398

1,7631,987

1,5101,7602 0702, 273 ,2 761

3 7624,362

1 0751 241

1 3801,415

1 0381 320

1,9752,435

160200

407512

375465600856

1,032

1,4441,743

Rub-ber

prod-ucts

1 1951,3321,3501,5821 710

1 9782 126

285340355400472

544580

300302310355350

392415

400460420517537

633665

228219

276290

214232

255275

7536

102100

210230265310351

409466

Primary& fab-ricatedmetals

1 8752,0532,4332,9403 091

4 0494 666

9401,0901,1981,3301 417

1 6501 810

160163215313289

449561

690715880

1,1151 166

1 5431,807

496546

680746

563555

719850

5665

144211

8585

140182219

407488

Machin-ery ex-cluding

electrical

2 8973,3593,7164,5925 364

7 3848 192

760810916

1,0381 182

1 6001 685

122144175219282

382402

1,7552,0902 1852,7353 196

4 3734,903

1 0191 121

1 4281,535

1 6511 960

2,7403,090

65115

205278

260315440600704

1,0291 202

Elec-tricalma-chin-ery

2,2342,6712,9863,5793,992

4 7525,298

764851866

1,0101,203

1 3731 457

300360280380414

505591

1,0501,3201 6801,9682 128

2 5432,881

708717

818885

1,0661,187

1,4351,688

194224

290308

120140160221247

331369

Trans-porta-tion

equip-ment

6,0006,6808,0509,466

10, 745

12, 85014, 522

1,4501,7302,1402,4833,226

4,6965,661

770790760978

1,172

1,2811,335

3,0703,2804,0504,7005,045

5, 3915,907

1 7381,798

2,2822,293

2,6072,849

2,7433,138

355398

366476

710880

1,1001,3051,302

1,4821,619

Otherprod-ucts

2,7152,9383,3404,1244,716

6,0116,757

9501,0001,1001,3381,485

1 7801,970

440478505547576

769884

1,1251,2301 4651,8892,191

2,8373,169

9011,047

1,4111,517

8921,020

1,2401,420

96124

186232

200230270350464

625734


20 SUEVEY OF CUKEENT BUSINESS October 1970

Table 3.—Sales of Foreign Manufacturing Affiliates, by Area, Industry and Destination1965,1967-68


All areasFood products.- _ .Paper and allied products. _ChemicalsRubber productsPrimary & fab . metalsMachinery, excl elecElectrical machineryTransportation equip. . _-.Other products

CanadaFood productsPaper and allied products. .ChemicalsRubber Products . .Primary & fab. metals .Machinery excl elecElectrical machineryTransportation equipOther products

Latin Am. Repb. & OWHFood products .. ..Paper and allied products. .ChemicalsRubber productsPrimary & fab. metals _ _ __Machinery, excl elecElectrical machineryTransportation equipOther products . .. ..

EuropeEuropean EC. Community

Food products _.Paper & allied prodChemicalsRubber products _ .Primary & fab. metals. _Machinery, excl. elec...Electrical machTransportation equip. ..Other products __ _ .

Other, including U.KFood productsPaper & Allied prod...Chemicals. _ . .Rubber productsPrimary & fab. metals .Machinery, excl. elecElectrical machTransportation equip. ..Other products .__ _.

Other areas. _Food products. _ __Paper and allied prodChemicalsRubber productsPrimary & fab metalsMachinery, excl. electrical. _Electrical machineryTranpsortation equipOther products _ _ ...

Total sales

1965

42,3174,0151,8036,8811,7103,0915,3643,992

10, 7454,716

13,3491,3251,3491,690

4721,4171,1821,2033,2261,485

5,526867178

1,398350289282414

1,172576

18,6859,850

66562

1,320232555

1,9601,1872,8491,020

8,835830104

1,441305611

1,236941

2,1961,171

4,757328110

1,032351219704247

1,302464

1967

53,1515,0982,1728,8571,9784,0497,3844,752

12, 8506,011

16,5851,5521,5021,888

5441,6501,6001,3734,6961,780

7,1281,350

2371,763

392449382505

1,281769

23,08012,002

779116

1,975255719

2,7401,4352,7431,240

11, 078967136

1,787378824

1,6331,1082,6481,597

6,358450181

1,444409407

1,029331

1,482625

1968

59,6765,3662,534

10, 2152,1264,6668,1925,298

14, 5226,757

18,5481,5821,6802,123

5801,8101,6851,4575,6611,970

7,9661,490

3011,987

415561402591

1,335884

25,83513, 921

865160

2,435275850

3,0901,6883,1381,420

11, 914957159

1,927390957

1,8131,1932,7691,749

7,327472234

1,743466488

1,202369

1,619734

Local sales

1965

34,6863,482

9445,7991,5692,3314,1583,5168,9753,912

10,8901,192

5291,495

463909

1,0331,1132,8631,293

5,111674158

1,260348277266405

1,164559

14,2647,517

59257

910150463

1,3661,0322,157

790

6,74778595

1,190270469824748

1,538828

4,421239105944338213669218

1,253442

1967

41,9944,4231,1927,4011,8012,9695,4064,1869,7564,860

12,3611,432

5861,754

5231,0321,3361,2752,8921,531

6,4581,042

2181,560

389439323478

1,265744

17,4088,858

68894

1,385162596

1,7541,1812,094

904

8,550903123

1,435333616

1,046955

2,0571,082

5,767358171

1,267394286947297

1,448599

1968

46,4654,5931,4208,4971,9483,4376,1654,655

10, 4025,348

13,3691,478

6411,968

5561,1231,4081,3493,1531,693

7,2131,130

2791,778

407548362550

1,31484*5

19,19510,042

723134

1,622190712

2,0581,3942,244

965

9,153874139

1,541349704

1,2301,0392,1191,158

6,688388227

1,588446350

1,107323

1,572687

Exported to UnitedStates

1965

1,789119643171

718316759

278162

1,38033

638906

1758630

200122

101465

34

213

10

231100

4

12(*)

373

3310

1317

617

35194214

7729

29(*)

76

6

1967

3,68818769717229

34025062

1,744207

2,95633

6929015

22813833

1,583144

161934

40(*)(*)

35

12

394191

51

17(<)!

563

8325

20313

8131348137322

17743

171

984

10

4

1968

4,74121174518930

398338

902,485

255

3,78728

7398517

27518529

2,247182

212122

547

2(>)s

38

17

549305

81

2722

7227

14620

24413

124

2760168428

19340

185

941315

8

Exported to othercountries

1965

5,842414216911134577

1,039417

1,492642

1,079100182105

33336360

16370

314147

15104

21214857

4,1902,233

695

3988291

557152659220

1,957389

24534

135377174616329

259605

59136

28234916

1967

7,469488283

1,284148740

1,728504

1,350944

1,26887

224446

39012665

221105

50921515

1633

1055241113

5,2782,953

8621

57393

122930251566311

2,3255113

34432

195539140518493

4144910

160142378243422

1968

8,470562369

1,529148831

1,689553

1,6351,154

1,39276

300707

4129279

26195

541238

17162

61332381322

6,0913,574

13425

78683

136960267748435

2,5177020

37437

226523138566563

44644

7137154482314739

*Less than $500.000.

Table 4.—Sales of Foreign Mining Affiliates by Area and Destination 1965,1967-68


All areas

CanadaLatin American Republics and

Other Western Hemisphere. .-Europe

Africa..Asia and Oceania

Total sales

1965

3,509

1,480

1,34571

418195

1967

4,549

1,796

1,72467

617345

1968

5,269

2,058

1,814105

816476

L

1965

780

395

24010

3132

ocal sales

1967

988

478

28240

4184

1968

1,119

542

31747

4209

Exported toUnited States

1965

1,303

687

5351

737

1967

1,644

829

637(*)

15424

1968

1,864

912

6963

21637

Exported toother countries

1965

1,426

398

57060

34256

1967

1,917

489

80527

459137

1968

2,286

604

80155

596230

*Less than $500,000.

facturing transportation equipmentamounted to $2.2 billion, 11 timesgreater than in 1965. Total exports ofaffiliates to the United States ex-cluding exports of Canadian affiliatesmanufacturing transportation equip-ment were $2.5 billion in 1968 (4.6percent of their sales) compared with$1.6 billion in 1965 (4.1 percent of theirsales). Thus, the percentage of totalsales exported to the U.S. by all otheraffiliates showed only a small rise.

Exports by all manufacturing affili-ates to third countries remained at 14percent of total sales in 1967 and 1968,the same percentage as in 1965. Localsales were 78 percent of the total in1968, compared to 82 percent in 1965.

MiningSales of U.S.-owned foreign mining

affiliates rose 16 percent in 1968 to$5.3 billion. The increase was slightlyfaster than the average annual growthrate in the preceding 2 years. Affiliatesin Africa and Australia registered par-ticularly strong increases, at abouttwice the industry rate in 1968, whileLatin American affiliates increasedsales only 5 percent in that year.Slightly more than 35 percent of all salesby mining affiliates in 1968 wereexported to the United States while anadditional 43 percent represented ex-ports to third countries. In 1965, 37percent of total mining sales wasexported to the United States and 41percent to third countries.

MethodologyThese data are estimates of total sales of

all foreign manufacturing and mining affili-ates in which U.S. owners have a directequity interest of 25 percent or more. Reportsare received from approximately 500 majorU.S. parent companies reporting annually tothe Office of Business Economics. The pub-lished data are a combination of the reportedsample plus an estimate for nonreportedaffiliates (the blowup). Changes are madeannually to the blowup for each industry andarea in direct proportion to the changes in thereported sample data for that same industryand area.

Initial estimates of the magnitude anddistribution of the blowup are made in abase year when all foreign affiliates mustreport their sales data (as well as manyother aspects of their operations) to this office.The most recent base year for which dataare available is 1957.

Sales data for a new base year have beencollected—along with much other informa-tion—in the census of U.S. direct foreigninvestment for 1966; these data cover about3,500 U.S. parents and almost 25,000 foreignaffiliates. When processing of the 1966 censusis completed, the sales figures for 1967 and1968 presented here will be revised to in-corporate the new information.


By DAVID T. DEVLIN and GEORGE R. KRUER

The International Investment Position of the United States:Developments in 1969

The net international investment po-sition of the United States improved by$1.5 billion in 1969 as total U.S. assetsrose $11.1 billion and total liabilitiesrose only $9.6 billion. The rise in thevalue of U.S. direct investments abroad,including reinvested earnings, was $5.8billion, slightly more than the rise in1968. However, the net flow of cor-porate funds was slightly more favorableto the balance of payments than in 1968because earnings on direct investmentsrose sharply The ratio of U.S. reserveassets to liabilities to foreign officialagencies moved favorably, reflecting the1969 surplus on the official reserve trans-actions balance; at the same time, theratio of U.S. reserve assets to liquidliabilities continued to fall, reflecting thelarge liquidity deficit.

J. OTAL international assets of theUnited States—including official reserveassets—rose $11,064 million in 1969and U.S. liabilities to foreigners rose$9,542 million. As a result, the netinternational investment position im-proved by $1,522 million, which wassubstantially greater than the smallimprovement of only $152 million in1968. At yearend 1969, total assetsexceeded total liabilities by $67,046million.

This article first considers the factorsaccounting for the recent changes inthe U.S. net international investmentposition (table 1). The composition ofthe shifts in the total value of assetsand liabilities from yearend to yearendis then discussed, noting the contribu-

tions of balance of payments flows, rein-vested earnings, and valuation changes,as well as changes in coverage andstatistical discrepancies (tables 2 and 3).In addition, the changing structure ofthe relation between the liquidity ofU.S. assets and the liquidity of U.S.liabilities is analyzed (table 4 and chart9).

A major part of the article is devotedto discussion of U.S. direct investmentabroad and the flows associated withsuch investments. A summary is givenin table 5 and detailed figures for 1969are published here for the first time intables 5 through 11. Foreign directinvestment in the United States (tables12 and 13) and portfolio investments(tables 14 and 15) are also discussed.

Changes in the NetInternational Position

Changes in the net internationalinvestment position of the UnitedStates reflect three major factors (table1). The first is net recorded balance ofpayments capital flows, which must beequal to the current account (the bal-ance on goods, services, and unilateraltransfers) adjusted for errors andomissions.1 In effect, a surplus on thecurrent account adjusted for errors andomissions allows an improvement in ournet investment position. The second isreinvested earnings of U.S. affiliatesabroad minus reinvested earnings offoreign enterprises in the United States.Earnings of U.S. affiliates abroad notsent back to the United States as in-come (and thus not included in thecurrent account) improve our invest-

NOTE.—Significant contributions were alsomade by Julius Freidlin, Russell Scholl andZalie Warner.

1. If the errors and omissions in the balance of paymentsaccounts could be identified, a part would presumably gointo recorded capital flows and a part into recorded goods,services, and unilateral transfer accounts. The two accountswould then be equal.

ment position. The third factor is thenet change in valuation of outstandingU.S. investments abroad and foreigninvestment in the United States (in-cluding adjustments in the variousseries for changes in coverage andstatistical discrepancies); these are alsonot included in the balance of paymentsaccounts. Essentially, we improve ournet investment position by transferringabroad real goods and services or byreinvesting foreign earnings abroad, butthe position is also affected by changesin valuation of outstanding assets andliabilities.

From the mid-1950's through 1966,we had a rather consistent rise in ournet investment position, which largelyreflected a strong trade balance andgrowing income on investments (andthus a surplus on the current account),as well as a moderate growth in rein-vested earnings; these factors wereonly partly offset by adverse valuationadjustments. However, in 1967 (whenthe valuation adjustment was par-ticularly adverse), and in 1968 (whenthe trade balance dropped skarply),the net investment position rose onlynominally.

Our net position showed a $1.5billion improvement in 1969. Net re-invested earnings amounted to $2.1billion and, more importantly, therewas an extremely favorable impactof over $3.0 billion due to valuationand price changes affecting outstand-ing portfolio holdings. (In 1968, valu-ation adjustments had been unfavor-able.) As prices in the U.S. stockmarket declined in 1969, the value ofoutstanding U.S. stocks held by for-eigners declined almost $3.0 billion,thus reducing U.S. liabilities to for-eigners. In addition, rising long-term

21


22 SUEVEY OF CUEKENT BUSINESS October 1970

interest rates in the United Statesreduced bond prices and the value ofoutstanding foreign holdings of U.S.bonds fell by almost another $1.0billion. These shifts were only partlyoffset by a $1.0 billion decline in thevalue of outstanding foreign bondsheld by U.S. residents which resultedfrom rising interest rates abroad. (Val-uation adjustments to outstanding U.S.holdings of foreign stocks were small.)

On the other hand, the net invest-ment position was adversely affected bythe $3.7 billion net inflow of capitalrecorded in the balance of payments.This, in turn, reflected a $2.8 billionnegative errors and omissions (a sharpdeterioration from 1968) and a $0.9billion deficit on current account ($0.5billion more than in 1968). The de-terioration in the current accountlargely reflected a sharp increase inpayments to foreigners on their dollarholdings due mainly to the sharp risein U.S. interest rates; there was littlechange in the trade balance.

There are reasons to believe that ourinvestment position improved by morethan the recorded amount in 1969.Available figures on Eurodollar marketholdings suggest that a substantial partof the increased outflow from the UnitedStates on errors and omissions reflectedflows of U.S. funds to the Eurodollarmarket. Such flows would increase U.S.assets abroad, but are not reflected inthe recorded capital flows nor in theinvestment position. If rough allowanceis made for such unrecorded flows tothe Eurodollar market, it appears thatthe net investment position might haveimproved by perhaps as much as $3.0billion, rather than $1.5 billion.

While the net change in our invest-ment position can be considered to beaccounted for by the factors just dis-cussed (the current account adjustedfor errors and omissions, reinvestedearning and valuation adjustments),capital flows, of course, may have amajor impact on trade, services, andearnings. To the extent this occurs, thechange in the net investment positionis not determined independently ofcapital flows. On the other hand, anoutflow of capital from the UnitedStates does not necessarily result in a

net change in the U.S. internationalinvestment position unless one of thefactors mentioned also is influenced.These questions were discussed morefully in the Investment Position articlein the October 1969 SURVEY.

Changes in U.S. Assets andLiabilities

The composition of changes in assetsand liabilities was quite different in1969 than in 1968 (tables 2 and 3). Theincrease in U.S. nonliquid assets abroadwas $9.8 billion in 1969, about $1.0billion lower than in 1968. Outflows ofcapital recorded in the balance of pay-ments were slightly lower in 1969. Moreimportantly, price adjustment to thevalue of outstanding foreign securitiesheld by U.S. residents was large andadverse in 1969 while it was favorablein 1968. This shift offset the favorableimpact of an increase in reinvestedearnings. As a result, the increase inassets due to factors other than capitalflows was only $2,393 million in 1969,compared with $3,125 million in 1968.

The increase in U.S. nonliquid li-abilities was only $1.2 billion in 1969,following a $11.0 billion increase in1968. This $10 billion shift reflected asharp fall in the inflow of nonliquid

funds from abroad as recorded in thebalance of payments, and a large swingin price adjustments to foreign port-folio holdings in the United States,mostly reflecting the decline in pricesof U.S. stocks.

The lower inflow of funds from abroadreflected smaller purchases of privateU.S. securities by foreigners, and verylarge adverse shifts by foreign officialagencies in their holdings of long-termtime deposits at U.S. banks (table 2,line 33) and of "nonliquid" U.S.Treasury securities (table 2, line 37).These transactions by foreign officialagencies are some of the "special finan-cial transactions" which have distortedthe liquidity balance in recent years.

Shifts in liquid assets and liabilitiesof the United States in 1968 and 1969were even more striking. In the earlieryear, U.S. liquid assets—i.e., U.S.monetary reserves—rose $880 million,while liquid liabilities rose only $495million, producing a $385 million im-provement in our net liquidity position.(The change in liquid liabilities in-cluded a $214 million adjustment forchanges in coverage. Excluding thisadjustment, the balance of paymentsflows were an $880 million increase inreserves and a $709 million increase inliquid liabilities. The difference is equal

Table 1.—Factors Accounting for Changes in the Net International Investment Positionof the United States


Item

Balance on goods, services, and unilateral transfers (surplus(+)) . . .

Adjustment for: Errors and omissions (receipts (+)) .

Equals: Net recorded balance of payments capitalflows (outflow (+))

Change in U.S. assets (increase (+))Change in U.S. liabilities (increase (— ))-

Plus : Net reinvested earnings (increase (+))

Plus: Changes in net valuation and other adjust-mentsof which: Changes in coverage and statis-

tical discrepancies _

Equals : Change in net international investment posi-tion of the United States

Change in U.S. assets (increase (+))Change in U.S. liabilities (increase (-))-

Addendum: Net international investment position of theUnited States at end of period 2

1951-55

-498

300

-1971,002

-1,199

670

-370

n.a.

1022,143

-2,041

37, 237

Average

1956-60

1,002

173

1,1753,283

-2, 108

990

i -699

n.a.

1,4664,138

-2,673

44, 566

1961-65

3,838

-910

2,9275,097

-2, 170

1,072

r -249

n.a.

' 3, 426'6,938

••-3,511

' 61, 698

1966 '

2,492

-514

1,9785,299

-3,321

1,400

-10

25

3,3675,037

-1,670

65, 065

1967'

2,243

-1,088

1,1558,008

-6,853

1,158

-2,006

297

3079,591

-9,284

65, 372

1968 r

-336

-514

-8488,561

-9,409

1,687

-687

198

15211, 687

-11,535

65, 524

1969 P

-885

-2,841

-3,7268,604

-12,330

2,101

3,147

-188

1,52211, 064

-9,542

67, 046

r Revised. » Preliminary. n.a. Not available.1. Includes an adjustment for direct investment in Cuba omitted from the data effective 1960.2. The net position at the end of a given period is equal to the position at the end of the preceding period plus the total

net change during the period.



Table 2.—International Investment Position of the United States at YearendJ[Millions of dollars]

Line

1

2

3

4

5

6789

1011

12

1314

15

161718

19

20

212223

24

25

26

27

28293031

3233

34

35

36

37

38

39

40

4142

43

4445

46

4748

49

50

Type of investment

NET INTERNATIONAL INVEST-MENT POSITION OF THEUNITED STATES ..

U.S. assets abroad

Nonliquid _ ... - .. .. .. .. .. _

Private .

Long-term

Direct investments 2 - _ .. . .Foreign dollar bondsOther foreign bondsForeign corporate stocksClaims reported by U.S. banks. ..Other *

Short-term

Claims reported by U.S. banks. ..Other *

U.S. Government ... .. .

Long-term credits 5_ - . ..Repayable in dollars..- .. ..Others

Foreign currencies and other claims-

Liquid: U.S. monetary reserve assets. ._

GoldConvertible currencies . . . _IMF gold tranche position _ ... ... -

U.S. liabilities to foreigners

Nonliquid . . . . _ .

Private . . ..

Long-term

Direct investments. ... -Corporate and other bondsCorporate stocksLiabilities reported by U.S. banks.

To private foreignersTo foreign official agencies

Other*

Short-term 4

U.S. Government

Certain liabilities to foreign officialagencies7.. ...

Other

Liquid. . . .

To private foreigners 8 _ - - ...

To banks 9

Toothers 8

To foreign official agencies

Reported by U S banksU.S. Treasury obligations

Addenda: Total liquid liabilities

Private, reported by U.S. banksU.S. Treasury Marketable or conver-

tible bonds and notesU.S. Treasury bills, certificates, and

other obligations.Gold deposits of IMF

TotalJ

19601

44,566

85,768

66, 409

49, 430

44, 447

31, 8654,891

6333,9841,6981,376

4,983

3,5941,389

16, 979

14, 087N.A.N.A.

2,892

19, 359

17, 804

1,555

41,202

19,654

19, 382

18, 418

6,910649

9,3027

7

1,550

964

272

2271

21,549

9,139

4,8184,321

12, 410

4,0198,391

21,549

11, 062

o 2, 326

8,161

19651

61, 698

120,457

105, 007

81, 528

71, 375

49, 4749,1151,0505,0484,317' 2, 371

10, 153

7,7352,418

23, 479

20, 31814, 9685,350

3,161

15, 450

13, 806781863

58,759

29, 644

27, 362

26, 394

8,797875

14, 599513

393120

r 1, 610

968

2,282

4961,786

29, 115

12, 909

7,4195,490

16, 206

5,91410, 292

29, 115

17, 195

3,530

8,35634

1968'

65, 524

146,772

131, 062

102, 519

89, 529

64, 98310,5651,1396,4523,3673,023

12, 990

8,7114,279

28, 543

25, 94019, 9675,973

2,603

15, 710

10, 8923,5281,290

81,248

47, 634

42, 890

40, 353

10, 8154,214

19, 5513,166

8252,341

2,607

2,537

4,744

2,7232,021

33, 614

20, 103

14, 4725,631

13, 511

5,5997,912

33, 614

24, 457

'0 1, 667

7,260230

1969 P

67, 046

157,836

140, 872

110, 152

96, 029

70, 76310, 5791,1336,9533,0373,564

14, 123

9,6064,517

30, 720

28, 21021, 9716,239

2,510

16, 964

11, 8592,7812,324

90, 790

48, 872

43, 945

40, 986

11,8184,800

18, 1402,490

9831,507

3,738

2,959

4,927

2,6452,282

41,918

28, 907

23, 6655,242

13,011

7,2275,784

41, 918

34, 964

1,517

5,218219

Western Europe

1968 r

-8, 521

39, 721

36, 198

28, 177

24, 738

19, 407652104

2,899527

1,149

3,439

1,1812,258

8,021

7,8056,7301,075

216

3,523

3,523

48,242

30, 934

28, 056

26, 301

7,7503,366

13, 18617

611

1,982

1,755

2,878

1,0291,849

17, 308

10, 307

8,8721,435

7,001

2,7304,271

17, 308

12, 581

1,183

3,544

1969 v

-14,090

41,373

38, 593

30, 310

26, 721

21, 55458324

2,816454

1,290

3,589

1,4182,171

8,283

8,0346,9811,053

249

2,780

2,780

55,463

32, 707

29, 500

27, 452

8,5103,770

12,10654

54

3,012

2,048

3,207

1,2511,956

22, 756

16, 897

15, 3831,514

5,859

3,3502,509

22, 756

19, 686

1,086

1,984

Canada

1968 r

20,800

31,810

31, 806

31, 795

30, 581

19,5355,995

7413,201

228881

1,214

533681

11

44

7

4

4

11,010

7,829

6,468

6,187

2,65969

3,2851

N.S.S.N.S.S.

173

281

1,361

1,33427

3,181

2,649

N.S.S.N.S.S.

532

N.S.S.N.S.S.

3,181

2,616

384

181

1969 P

22,550

34, 323

34, 323

34,308

32, 600

21, 0756,110

8023,406

208999

1,708

826882

15

1010

5

(*)

(*)

11, 773

7,489

6,327

6,049

2,83487

2,950(*)

N.S.S.N.S.S.

178

278

1,162

1,12933

4,284

3,789

N.S.S.N.S.S.

495

N.S.S.N.S.S.

4,284

3,770

272

242

Japan

1968'

1,453

5,732

5,731

5,005

1,682

1,050309

(*)74

122127

3,323

3,114209

726

677577100

49

1

1

4,279

950

939

848

181(*)

9658

N.S.S.N.S.S.

(*)

91

11

11

3,329

N.S.S.

N.S.S.N.S.S.

N.S.S.

N.S.S.N.S.S.

3,329

2,090

9

1,230

1969 P

1,591

6,469

6,468

5,737

2,110

1,218265

(*)39888

141

3,627

3,372255

731

69859999

33

1

1

4,878

1,029

996

853

176(*)

10655

N.S.S.N.S.S.

12

143

33

33

3,849

N.S.S.

N.S.S.N.S.S.

N.S.S.

N.S.S.N.S.S.

3,849

2,554

61

1,234

Latin AmericanRepublics andother WesternHemisphere

1968'

16, 100

24, 923

24, 923

19, 653

16, 103

13, 101721211101

1,377592

3,550

2,889661

5,270

5,2374,644

593

33

8,823

4,050

4,015

3,803

182149

2,364856

345511

252

212

35

35

4,773

3,405

7862,619

1,368

1,256112

4,773

4,601

30

142

1969 v

16,863

26,261

26, 261

20, 439

16, 946

13,811688242114

1,330761

3,493

2,805688

5,822

5,7925,120

672

30

9,398

3,642

3,595

3,341

193141

2,156525

316209

326

254

47

47

5,756

4,062

1,9022,160

1,694

1,64351

5,756

5,642

33

81

Other foreigncountries

1968 '

20,881

27,034

27, 034

13, 777

12, 314

9,1601,507

83177

1,113274

1,463

994469

13, 257

10, 9656,7604,205

2,292

6,153

2,757

2,299

2,101

4396

5591,203

N.S.S.N.S.S.

200

198

458

35999

3,396

N.S.S.

N.S.S.N.S.S.

N.S.S.

N.S.S.N.S.S.

3,396

2,383

36

977

1969 *

23, 232

29,542

29,542

14, 972

13, 266

10, 0431,609

65219957373

1,706

1,185521

14, 570

12, 3827,9664,415

2,188

6,310

2,548

2,069

1,833

10563

758697

N.S.S.N.S.S.

210

236

479

265214

3,762

N.S.S.

N.S.S.N.S.S.

N.S.S.

N.S.S.N.S.S.

3,762

3,077

33

652

Internationalorganizations

andunallocated}:

1968^

14,812

17,552

5,370

4,113

4,112

3 2, 7311,381

1

1

1,257

1,2521,252

5

12, 182

10, 892

1,290

2,740

1,113

1,113

1,113

534148431

431

(*)

1,627

597

597

1,030

230800

1,627

186

25

1,186230

1969 P

16,898

19,867

5,684

4,384

4,384

3 3, 0601,324

(*)

(*)(*)

1,300

1,2951,295

5

14, 183

11, 859

2,324

2,969

1,458

1,458

1,458

739160559

559

(*)

1,511

492

(*)492

1,019

219800

1,511

235

32

1,025219

r Revisedp Preliminary.N.A. Not available* Less than $500,000 (±).^Includes U.S. gold stock.N.S.S. Not shown separately.1. Unrevised except where indicated; otherwise the data are as published in the SURVEY,

October 1969.2. Excludes data for Cuba after 1959.3. For the most part represents the estimated investment in shipping companies registered

primarily in Panama and Liberia.4. These items mostly reflect transactions by U.S. nonbank residents as reported in lines

39,40, 55, and 56 in balance of payments table 1, SURVEY, September 1970, page 36. However,the long-term position data given here include estimates for real estate, insurance, estates,and trusts, and prior to 1961, the short-term position data include an omissions estimate.

5. Also includes paid-in capital subscription to international financial institutions (other

than IMF) and outstanding amounts of miscellaneous claims which have been settled throughinternational agreements to be payable to the U.S. Government over periods in excess of 1year. Excludes World War I debts that are not currently being serviced.

6. Includes indebtedness which the borrower may contractually, or at its option, repay withits currency, with a third country's currency, or by delivery of materials or transfer ofservices.

7. Represents U.S. Government liabilities that are held in reserve assets of official mone-tary institutions. Also includes U.S. Government notes held by the Canadian Governmentin connection with the 1964 Colombia River power rights arrangements.

8. Includes liabilities to international and regional organizations.9. As reported by U.S. banks: ultimate ownership is not identified.10. A significant change in reporting coverage of the data occurred between this period and

the preceding period.

NOTE.—Data for Japan are presented for the first time; the estimates are based on develop-ments since 1946.


24

to the $171 million surplus in theliquidity balance recorded for 1968.)

In 1969, on the other hand, U.S.reserve assets rose $1,254 million, whileliquid liabilities rose $8,304 million,producing a deterioration in our netliquidity position of $7,050 million.(Considering only balance of paymentsflows, the difference between the in-crease in reserves and the increase inliquid liabilities is $7,012 million, which

SUEVEY OF CUREENT BUSINESS

is equal to the recorded deficit in bal-ance of payments on the liquidity basisfor 1969.)

Liquidity structure

The evolution of the liquidity struc-ture of U.S. assets and liabilities can beconveniently analyzed in terms of theratios computed in table 4 and shownin chart 9. It must be recognized, how-ever, that within each of the categories

Table 3.—Changes in the International Investment Position of the United StatesReconciled with Balance of Payments Capital Flows


Linesin

table2

1

2

3

4

5

6

7-8

9

10-11

12

15

16

19

20

21

22

23

Net International Investment Position and U.S.Assets Abroad

Item (increase +)

NET INTERNATIONAL IN-VESTMENT POSITION OFTHE UNITED STATES

Balance of payments capitalflows

Other than capital flows

U.S. assets abroadCapital flowsOther than capital flows

NonliquidCapital flowsOther than capital flows

Private

Long-term

Direct investmentsCapital flowsReinvested earningsValuation adjustments

Foreign bondsCapital flowsPrice changes

Foreign corporate stocksCapital flpwsPrice changes

Claims reported by U.S.banks and Other

Capital flowsChanges in coverage

Short-termCapital flowsChanges in coverage

U.S. Government

Long-term credits.Capital flows. _ ..Losses on write-offsValuation adjustments

Foreign currencies and otherclaims

Capital flowsValuation adjustmentsStatistical discrepancies

Liquid: U.S. monetary reserveassets

Capital flows.Other than capital flows

Gold

Convertible currenciesCapital flowsValuation adjustments _

IMF gold tranche position . .

1968'

152

-8481,000

11,6878,5613,125

10, 8077,6813,125

8,580

7,493

5,4923,2092,175

108

9251,099-174

1,214155

1,059

-138-138

1,0871,087

2,227

2,2972,331

-6—29

-70-62-14

6

880880

-1,173

1,1831,183

870

1969 v

1,522

-3, 7265,248

11,0648,6042,460

9,8107, 4172,393

7,633

6,500

5,7803, 0702,532

178

81,027

-1,019

50146734

21194

117

1,133575558

2,177

2,2702,273

-3

-93-89-8

4

1,2541,187

67

967

-747-814

67

1,034

Linesin

table2

24

25

26

27

28

29

30

31-34

35

36

37

38

39

40

41

42

43

44

45

U.S. Liabilities to Foreigners

Item (increase +)

U.S. Liabilities to foreignersCapital flowsOther than capital flows

Nonliquid-- ...Capital flowsOther than capital flows. .

Private

Long-term .. ... .

Direct investmentsCapital flowsReinvested earningsValuation adjustments

Corporate and other bonds.Capital flowsPrice changes

Corporate stocksCapital flowsPrice changes .Valuation adjustments

Liabilities reported by U.S.banks and Other

Capital flowsChanges in coverage

Short-term __ ..Capital flowsChanges in coverage

U S Government

Certain liabilities to foreignofficial agencies _

Capital flowsValuation adjustments

Other - - -Capital flows..Valuation adjustments _Statistical discrepancies

LiquidCapital flowsOther than capital flows

To private foreigners

To banks ......Capital flowsChanges in coverage. .

To othersCapital flowsChanges in coverage

To foreign official agencies

Reported by U.S. banks

U.S. Treasury obligationsCapital flows.. ._Valuation adjustmentsChanges in coverage .

1968 '

11, 5359,4092,125

11,0408,7002,339

9,105

8,346

89231948885

2,0932,292-200

4,0402,0961,944

1,3211,321

759759

1,935

1,8071,807

128107

21

495709

-214

3,663

3,3873,387

276423

-147

-3, 168

-524

-2,644-2, 577

-67

1969"

9,54212, 330-2, 788

1,2384,131

-2,893

1,055

633

1,003832431

-260

5861,547-961

-1,4111,565

-2,966-10

45515

440

42276

346

183

-78-162

84

26125810-7

8,3048,199

105

8,804

9,1939,217-24

-389-501

112

-500

1,628

-2,128-2, 145

17

October 1970

of assets and liabilities used, the degreeof liquidity of the various componentsis difficult to judge and can vary con-siderably. This difficulty increases whena number of categories are combined.Partly reflecting these considerations,

CHART 9

Liquidity Ratios: Outstanding U.S. AssetsAbroad to Liabilities to Foreigners byDegree of Liquidity

Ratio

2.0 -

1.5 -

1.0 -

3.0

2.5

2.0 -

1.5 -

1.0 -

.5 -

0

3.0

2.5 -

2.0 -

1.5 -

1.0 -

.5 -

MONETARY COMBINATIONS

LIQUID AND LESSLIQUID COMBINATIONS

i I I I I I I I I I

LEAST LIQUID COMBINATIONS

I960 61 62 63 64 65 66 67 68 69

Note.-Refer to table 4 for data.

U.S. Department of Commerce, Office of Business Economics 70-10-?


October 1970 SURVEY OF CURRENT BUSINESS

Table 4.—Liquidity Ratios: Outstanding U.S. Assets to Liabilities to Foreigners by Degree of Liquidity

25

Refer tochart 9

A

A .

A2

B ,

B0

T3i

C ,

C2

Lines in table 2

20

33, 37, 43

20

39

20

33, 37, 39

20, 12

33, 37, 43

20, 12

33, 37, 39

20, 12

33, 35, 37, 39

20, 12, 7, 8, 9

29, 30, 33, 35,37,39

2

24

Ratios

MONETARY COMBINATIONS

Reserves

Liabilities to foreign official agencies

Reserves

All liquid liabilities

Reserves

All liquid liabilities and nonliquid liabilities to foreign official"agencies

LIQUID AND LESS-LIQUID COMBINATIONS

Reserves and short-term private claims

Liabilities to foreign official agencies


All liquid liabilities and nonliquid liabilities to foreign officialagencies


Liquid and near-liquid liabilities, excluding portfolio

LEAST LIQUID COMBINATIONS

Reserves, short-term private claims, and portfolio investment

Liquid and near-liquid liabilities, including portfolio

Total U.S. assets abroad

Total U.S. liabilities to foreigners

1960

1 56

90

on

1 96

1 13

1 08

1 04.

2 08

1961

1 49

80

OA

2 00

I ns

1 04

no

1 %

1962

1 25

72

71

1 78

I fn

97

1 no

2 03

1963

1 10

64

CO

1 63

Q4.

92

QC

2 02

1964

1 00

57

ca

1 65

no

91

no

2 01

1965

0 92

53

CO

1 52

8fi

83

00

2 05

1966

0 93

50

48

1 59

89

79

Sfi

2 08

1967

0 76

45

41

1 38

7e

71

77

1 94

1968

0 85

47

4.1

1 55

74

70

72

1 81

1969

0 9

4

1 8

£

I <•

the assets and liabilities compared inthe various ratios are not necessarily ofequal liquidity.

The ratio of U.S. reserves to U.S.liabilities to foreign official agencies(ratio AI) largely reflects the influenceof the balance of payments as computedon the official reserve transactions basis.It is also influenced by the method offinancing the official balance, i.e.,whether it is financed by a change inU.S. reserves or an increase in liabilities.Reflecting the behavior of all ratios,when the ratio is greater than 1.0 (andreserves exceed liabilities, as from 1960to 1963) a deficit of a given size willcause a greater reduction in the ratioif it is financed by an increase in lia-bilities than if it is financed by a de-crease in reserves. When the ratio is1.0 or less, a given loss of reserves hasa greater adverse impact than an equalincrease in liabilities. Of course, injudging the adequacy of U.S. reservesone must also take into account theabsolute level of reserves and liabilities,as well as the ratios.

Reflecting the substantial deficitsin the official settlements balance,

the AI ratio shows a consistent declinefrom 1960 through 1967, although itflattened in the mid-1960's when thebalance temporarily improved. In 1968and 1969, however, when the officialbalance was in substantial surplus, theratio improved. At end 1969, it stood atabout 1.0 (about the same as end1964)—that is, U.S. reserves were equalto our liabilities to foreign officialagencies. Of course, with the largeofficial deficit in the first half of 1970,the ratio dropped significantly lower.

The ratio of U.S. reserves to all U.S.liquid liabilities (A2) is similarly influ-enced by the liquidity deficit andwhether it is financed by an increasein liabilities or a decline in reserves.This ratio has also shown a rather con-sistent decline reflecting the persistentdeficits in the liquidity balance. At end1969, the ratio was 0.4 (i.e., reserveswere less than half of our liquidliabilities).

Including certain nonliquid liabilitiesto foreign official agencies (which reflectspecial financial transactions that areconsidered to distort the liquiditybalance) with liquid liabilities andrecomputing the ratio (ratio A3), gives

essentially the same impression as theratio of reserves to only liquid lia-bilities. However, the adjusted ratio issomewhat lower than the A2 ratioreflecting the growth in holdings ofnonliquid securities by foreign officialagencies.

While U.S. reserves are the mosthighly liquid assets that are availableto defend the value of the dollar, partof private short-term claims of banksand nonbanks can be considered suf-ficiently liquid to provide an offset to theliquid liabilities. Ratios BI, B2 and B3

compare U.S. reserves plus short-termprivate claims to various combinationsof liquid and less-liquid liabilities. Thecomparison with liabilities to foreignofficial agencies (BO indicates that suchassets were about twice such liabilitiesin the early 1960's, declined to 1.38 in1967 but then rose to 1.81 by end 1969.Not only is the level of the ratio consist-ently higher than the ratio of reservesalone to liabilities to official foreignagencies (AO, but the deteriorationfrom 1960 to 1969 is less pronounced.This indicates that the decline in U.S.reserves was to some extent offset by abuildup of generally less-liquid short-



term private claims. Some of theseclaims, such as Eurodollar and moneymarket holdings of banks and nonbanks,are quite liquid; others, such as tradecredits, loans and brokers' claims aresignificantly less so.

The ratios of U.S. reserves and short-term private claims to liquid and less-liquid liabilities (B2 and B3) behave ina manner similar to the more monetaryratios computed in A2 and A3. However,the deterioration from 1960 to 1969 isnot quite as strong, and the levels aresomewhat more favorable. (Less liquidliabilities in ratio B2 are the "nonliquid"liabilities to foreign official agencies.Less-liquid liabilites in ratio B2 alsoinclude short-term private liabilities ofnonbanks, such as brokers' liabilities,trade credits and loans from foreigners,a good part of which are probably noteasily liquidated.)

Looking at a wider spectrum of assetsand liabilities, in ratio Ci, U.S. port-folio assets are added to reserves andshort-term private claims and com-pared with foreign portfolio assets in theUnited States, as well as with liquid and

other less-liquid liabilities (as used inratio B3). The impression is similar tothat given by the more liquid combina-tions as A3 and B3; however, thedeterioration is noticeably less pro-nounced. Of course, the value of port-folio holdings could decline sharply ifeither U.S. residents or foreigners at-tempted to liquify any substantialamounts of their holdings. This is onereason they cannot be considered asliquid as some of the other itemsdiscussed.

In general, it appears that there is apersistent tendency for the structure ofU.S. assets to become relatively lessliquid compared with the structure ofU.S. liabilities. The proportion ofliquid (or liquid and less-liquid) assetsto total assets has tended to fall, whilethe proportion of liquid (or liquid andless-liquid) liabilities to total liabilitieshas shown relatively little change. Forexample, liquid liabilities plus non-liquid liabilities to foreign official agen-cies have persistently remained aboutone-half of total liabilities.

The ratio of total assets to totalliabilities (C2) is not intended to meas-

Table 5.—Flows of Certain U.S. Corporate Funds—Changes in Foreign Assets andLiabilities, Adjusted Earnings, and Fees and Royalties


Item, debits ( — ), credits (+)

N e t f l ow _ _

Change in direct investment position. .Balance of payments flows. . .Reinvested earningsOther adjustments ... .

Other corporate claimsLong-termShort-term l. . . . .

Corporate liabilities other than newissues of securities

Long-termShort-term l-

Ne w issues of securities 2

Of which: Used for direct investmentDeposited abroad (short-term corporate claims)

Adjusted earnings 3

Reinvested earningsIncome on U.S. direct invest-

ments abroad. .. -

Fees and royalties from U.S. directinvestment

Offset to "other adjustments" indirect investment

Total

1965

2,114

-4, 994-3,468-1,542

16

368-88456

13629

107

191-52

-139

5,5051,542

3,963

924

-16

1966 «•

2,033

-5, 325-3,661-1,739

75

-434-112-322

459180279

594-445

-143

5,7841,739

4,045

1,030

-75

1967 '

2,821

-4,692-3, 137-1,598

43

-590-281-309

44885

363

446-278

-96

6,1161,598

4,517

1,136

-43

1968'

5,311

-5, 492-3,209-2,175

-108

-992-220-772

1,149715434

2,144-785

-1,139

7,1482,175

4,973

1,246

108

1969 p

5,578

-5, 780-3, 070-2, 532

-178

-358-424

66

969691278

1,029-631

-187

8,1712,532

5,639

1,369

178

Western Europe

1965

7

-1,856-1,479

-40831

2630

-4

1192396

191n.a.

n.a.

1,176408

768

382

-31

1966"

-141

-2, 249-1,834

-43520

-444-79

-365

371192179

594n.a.

n.a.

1,164435

729

443

-20

1967 r

414

-1,670-1,458

-26957

-221-76

-145

32564

261

446n.a.

n.a.

1,118269

849

473

-57

1968 r

2,962

-1,503-1,001

-456-46

-738-148-590

1,141708433

2,144n.a.

n.a.

1,361456

905

511

46

1969 *

2,471

-2, 147-1,158

-845-144

180-131

311

806637169

1,029n.a.

n.a.

1,871845

1,026

588

144

r Revised. » Preliminary. n.a. Not available.1. Excludes brokerage claims and liabilities.2. New issues of securities sold abroad by U.S. corporations exclude securities issued by subsidiaries incorporated abroad

and also exclude funds obtained by U.S. corporations through bank loans and other credits. However, securities issued bysubsidiaries incorporated in the Netherlands Antilles are treated as if they had been issued by U.S. corporations if the proceedsof such issues are transferred to U.S. parent companies.

3. For a discussion of this concept see the technical appendix.

ure changes in the liquidity structureof our position. It focuses, instead, onthe relative amount by which assetsexceed liabilities, similar to the way thenet international investment positionfocuses on the absolute difference be-tween total assets and total liabilities.This ratio was about 2.0 in 1960,essentially remained at that levelthrough 1966, and then declined in 1967and 1968 as total assets and totalliabilities both rose by about the sameamount. Even in 1969, when there wasa $1.5 billion improvement in the netinternational investment position, theimprovement was not sufficient to pre-vent a further small decline in the ratio.

U.S. Direct InvestmentsAbroad

The value of U.S. direct investmentsabroad increased by $5.8 billion in 1969,about $0.3 billion more than in 1968(table 5). The 1969 increase brought thebook value of such assets to $70.8 bil-lion, or 45 percent of the value of allU.S. foreign assets. Capital outflows of$3.1 billion for direct investmentsabroad in 1969, which includes the useof both U.S. funds and funds raisedabroad by U.S. corporations, were onlymarginally below the 1967 and 1968level, but substantially below 1966 out-flows of $3.7 billion. Reinvested earn-ings rose $357 million to $2.5 billion in1969, but this was not as sharp anincrease as that which occurred between1967 and 1968.

A large number of internationaltransactions must be examined in orderto determine the balance of paymentsimpact of U.S. direct investmentsabroad. These associated flows havehave been combined with the explicitdirect investment flows in table 5. Bal-ance of payments signs are used andtherefore increases in U.S. claimsabroad are shown as minuses. (It shouldbe noted that some of the accountsinclude items such as trade creditswhich are not related to direct invest-ment.)

In addition to the outflow of directinvestment funds, one needs to knowhow much is borrowed abroad by U.S.corporations, either directly from for-eign banks and others, or by new issues


October 1970

of securities abroad. Furthermore, thevarious uses of the proceeds of bor-rowings—whether they are used to fi-nance direct investments abroad at thetime of borrowing, or are repatriatedto the United States, or are left ondeposit abroad for later utilization—have quite different impacts on the bal-ance of payments. The disposition ofthe U.S. corporations' share of earningsof foreign affiliates—whether they arereturned to the United States as incomeon direct investments or are reinvestedabroad—has significant implications forthe balance of payments, as does theamount of fees and royalties receivedby U.S. parents from their direct in-vestments abroad. These effects aresummarized in table 5. (As discussedin the Investment Position article inthe October 1969 Survey there are anumber of influences of U.S. corporateinternational transactions on thebalance of payments which cannot befully segregated and reflected in thetable.)

The net flow of corporate funds in1969 associated with the identifiabletransactions had a favorable impact onthe balance of payments of $5.6 billion,an improvement of $0.3 billion over1968. (The $2.5 billion improvementbetween 1967 and 1968 was probablyassociated with the Foreign DirectInvestment Program which was mademandatory at the beginning of 1968.)

In 1969, the change in the directinvestment position was adverse by$288 million more than in 1968. Thismostly reflected an increase in rein-vested earnings as capital outflowsshowed a small improvement. Long-term corporate claims (other thandirect investment) shifted adverselyby $204 million in 1969; most of thisshift was accounted for by the receiptof long-term notes as a result of theliquidation of a major U.S. directinvestment in Latin America. Theentries in this account and in the directinvestment capital flows account dueto the liquidation are mostly offsetting.

Borrowing abroad by corporationswas down sharply in 1969; new issues ofsecurities declined by $1.1 billion andother inflows from borrowing (as re-flected in other corporate liabilities)declined by $180 million. Partly associ-

SUEVEY OF CUEKENT BUSINESS

ated with the $1.3 billion adverse move-ment in borrowing was an improvementof $838 million in short-term claims.In 1968, when borrowing abroad wasmuch higher, corporations left a sub-stantial part of the funds borrowed ondeposit abroad which caused a sharpincrease in short-term claims. The neteffect of the change in borrowing andin short-term claims was an adversemovement of $0.5 billion from 1968 to1969.

The major improvement among allthese accounts was in adjusted earningson direct investments abroad, whichincreased by $1.0 billion\o $8.2 billionin 1969. Income receipts accounted for$0.7 billion of the increase while theremainder was reinvested abroad. Feesand royalties showed a $123 millionimprovement between 1968 and 1969.

The $1.1 billion improvement inearnings and fees and royalties exceededthe adverse effects of the other flowsby about $150 million; the remainder

27

of the overall improvement of $267million came from the offset to thedirect investment valuation ad-justments.

Country and industry distributionof direct investment

The developed countries, which in-cludes Canada, Western Europe, Aus-tralia, New Zealand, South Africa, andJapan accounted for $4.2 billion or 73percent of the $5.8 billion growth in thebook value of direct investments during1969 (table 6, chart 10). In 1968, theseareas accounted for $3.4 billion or 62percent of the $5.5 billion total rise indirect investments. U.S. investment inCanadian affiliates increased by $1.5billion during 1969, while investment inthe European Economic Community(EEC) increased by $1.2 billion.

Investments in less developed coun-tries rose over $1.2 billion last year,about $0.2 billion less than in 1968.The gain would have been about the

Annual Additions to Direct Investments Abroad by Industry and Major AreaBillion $

8

6

(ratio scale)

CHART 10

Billion $

- BY INDUSTRY

.2

Total

Petroleum

j L

- BY AREA

Total

•/ •• / \ / Latin America 1

/ • / V

I960 62 64 66

1. Includes "other Western Hemisphere"


68

I I I I I I I I I I .2

1960 62 64 66 68


28 SUEVEY OF CUEEENT BUSINESS October 1970

same in both years except for the in-voluntary sales of majority interest intwo mining enterprises to the ChileanGovernment and the sale of a publicutility company to the Peruvian Gov-ernment. Despite these sales, invest-ment in the Latin American Eepublicsincreased by $0.6 billion. Direct in-vestment in the international, unallo-cated category rose less than $0.3

billion in 1969, after rising $0.4 billionin 1968.

While the total value of U.S. directinvestments abroad is not affected byvaluation adjustments made as a resultof capital flow between primary andsecondary foreign affiliates, countryvalues are adjusted as shown in table 7.And, although not shown in table 7,industry values are also affected.

Manufacturing. U.S. ownership inforeign manufacturing affiliates increased$3.0 billion during 1969 to almost $30.0billion at yearend. In 1968, the increasewas $2.2 billion. Last year's gain re-flected reinvested earnings of $1.9billion and capital outflows of $1.1billion. Direct investments in manu-facturing have shown the greatest in-crease in value of any industry since1960 (table 9).

Table 6.—U.S. Foreign Direct Investments,

[Millions

Line

1

2

3

4

5

6

789

1011

12

131415161718

19

20

212223

24

25

26

27282930313233343536

37

38

394041

42

43

444546

47

Area and country 2

All areas _.

Developed countries

Canada. .. _ _ . ..

Europe 3

United Kingdom

European Economic Community

Belgium and LuxembourgFrance _ _ _ _ _ __GermanyItalyNetherlands

Other Western Europe

DenmarkNorwaySpainSweden _SwitzerlandOther4

Japan __ _

Australia, New Zealand, and South Africa -

AustraliaNew Zealand

« South Africa

Less developed countries

Latin American Republics and other Western Hemis-phere

Latin American Republics

MexicoPanamaOther Central America 5

ArgentinaBrazilChileColombiaPeru _VenezuelaOther6

Other Western Hemisphere 7

Other Africa 8

LiberiaLibyaOther .

Middle East 9

Other Asia and Pacific

India. _PhilippinesOther .

International, unallocated

A.— Book value at yearend 1

1968 r

Total

64,983

43,500

19,535

19,407

6,694

9,012

9811,9043,7851,2751,069

3,701

204201582516

1,437761

1,050

3,508

2,652160696

18,753

13,101

11, 033

1,466919595

1,1561,484

962632692

2,627499

2,068

1,978

174662

1,142

1,805

1,869

281673915

2,731

Mining&

smelt-ing

5,435

3,145

2,638

61

2

19

(*)10

(**)(**)(*)

40

1(**)(**)(*)(*)

19

446

365(*)

81

2,291

1,930

1,410

112196

(**)81

586(**)

421(Mk

519

314

(**)(**)

243

3

44

(**)(**)(**)

Petro-leum

18,887

9,922

4,094

4,636

1,563

2,146

14292

1,104479257

926

111101135281

8292

405

787

(**)<*&

7,496

3,680

3,014

44214151

(**)**83

323(**)1,780

169

667

1,407

(**)(**)

766

1,656

753

(**)(**)(**)

1,469

Manu-factur-

ing

26,414

21,716

8,568

10,796

4,243

5,399

6011,3402,285

617555

1,155

4852

306139336275

522

1,830

1,41285

333

4,697

4,005

3,711

1,00358

104730

1,02266

19596

38256

293

70

(**)(**)

68

63

559

132238190

Trans-portation& utili-

ties

2,672

699

599

94

20

54

114183

18

19

(*)(*)

13(*)

",3

3

3(*)(*)

774

685

628

2753

131(**)

27(**)

29221850

58

4

(**)(**)

7

78

13937

1,201

Trade

5,280

3,608

1,123

2,129

420

848

159163264105157

861

4126

10088

469137

99

257

1243796

1,671

1,345

1,251

1803404257

197395851

25829

94

67

246

38

20

239

4191

107

1

Other

6,295

4,410

2,513

1,691

446

546

20583

1137282

699

321298

62532

21

185

7483739

1,825

1,456

1,019

101235162369

7527126

101188143

436

117

15065620

56

196

106305581

61

1969 *

Total

70,763

47,701

21,075

21,554

7,158

10, 194

1,2102,0914,2521,4231,218

4,202

309223577604

1,606883

1,218

3,854

2,936163755

20,000

13,811

11,667

1,6311,071

6301,2441,633

846684704

2,668554

2,144

2,215

172775

1,268

1,829

2,145

294741

1,110

3,061

Mining&

smelt-ing

5,635

3,315

2,764

72

2

17

(*)10

(**)(**)(*)

52

1(**)(**)(*)(*)

24

479

395-184

2,321

1,922

1,346

136198

(**)99

452(**)

443(lo

576

343

(**)(**)

275

3

53

(**)(**)(**)

Petro-leum

19,985

10,447

4,359

4,805

1,563

2,243

57295

1,067506318

998

197103116304

-30308

447

836

(**)(**)

158

7,830

3,722

3,079

35239154

('3o(**)

342

Qi190

643

1,598

(**)(**)

843

1,654

856

(**)(**)(**)

1,708

Manu-factur-

ing

29,450

24,282

9,389

12,225

4,555

6,340

7001,5182,750

716656

1,329

5862

295179380356

639

2,029

1,56789

374

5,167

4,347

4,077

1,10890

113789

1,11265

22097

41667

270

80

(**)(**)

79

80

660

143270247

Trans-portation

& utili-ties

2,676

722

629

84

16

53

28

223

18

15

(*)

°8

°16

5

4

4(*)(*)

794

695

620

2856

129(")25('\

(*)

1855

74

5

(**)(**)

8

8

86

14342

1,159

Trade

5,832

4,043

1,221

2,415

455

948

214169284106175

1,012

4934

120112541155

101

306

15639

112

1,787

1,406

1,308

1913454368

188416359

27633

98

71

246

41

28

282

4497

140

1

Other

7,184

4,892

2,713

1,954

566

592

23791

1289251

795

424388

71433

25

200

8143628

2,101

1,720

1,236

13332218238710828830

106186159

484

118

14876921

56

207

105332680

193

r Revised. * Preliminary. *Less than $500,000±. """Combined in other industries. direct investment at any given time.1. The value of investments in specified industries and countries is affected by capital 3. Direct investment statistics do not show any investments in Eastern Europe,

flows among foreign affiliates as shown in table 7. 4. Includes Austria, Cyprus, Finland, Gibraltar, Greece, Greenland, Iceland, Ireland,2. Does not mean that all countries grouped in an "other" or regional category have U.S. Malta, Portugal, Turkey, and Yugoslavia.


October 1970 SURVEY OF CUREENT BUSINESS 29

The developed countries accountedfor $2.6 billion of the 1969 increase inmanufacturing, with Western Europereceiving about $1.4 billion. Europeanmachinery industries, electrical andnonelectrical, were major recipients ofcapital outflows for manufacturing di-rect investments in 1969 (table 10).Investment in German manufacturingaffiliates rose nearly $0.5 billion, of

which reinvested earnings contributed$0.3 billion. There were large flows offunds to German subsidiaries fromparents early in the year, but after themark revaluation and before the end ofthe year, most of the funds were re-turned to the United States. CommonMarket countries other than Germanyhad an increase in investment of nearly$0.5 billion, more than double the rise

in 1968. In the United Kingdom in-vestment was up $0.3 billion during1969, with the bulk of the increasefrom reinvested earnings. Investmentin manufacturing enterprises in "otherWestern Europe" increased by only$0.2 billion as losses incurred in thestart up of new petrochemical andother manufacturing plants in Spainlimited the growth in reinvestedearnings.

Selected Data Items, Countries, and Industries

of dollars]

B. — Net capital outflows

1968'

Total

3,209

1,873

625

1,001

363

438

78-2724228

118

200

-6312

106891245

78

169

16116

1,146

677

477

63722436807934242640

200

302

-8203106

40

127

72496

191

1969 P

Total

3,070

1,993

619

1,158

284

648

10283

231109123

226

539

-10794351

63

153

152-5

6

760

345

271

9384366164

-137361

-2053

74

169

-710769

71

175

341

131

316

Min-ing &smelt-

ing

52

75

50

6

(**)

(**)

(**)(**)(**)(*)

(**)

(*)(**)(**)

(**)

19

18(1

-23

-31

-87

13(t)

2(**)(**)

-142("\<'.?,

56

(*)

(**)r>3

(*)

8

(**)(**)

Petro-leum

1,022

432

178

204

40

128

32-1411540

36

453

-1831

-349

27

23

(**)(**)<*')

347

56

57

-11213

("\(**)

17(**)-935

-1

170

(**)(**)

57

50

71

(**)(**)(**)

243

Man-ufac-

turing

1,122

909

231

577

106

378

1074

1568255

93

455

377

35

32

69

70-2

1

213

132

158

49121135321

13-2

(4)7

-26

4

(**)(**)

15

62

42434

Other

873

578

161

372

139

143

609

331128

97

324

11708

4

41

63-2

3

222

187

143

425220263036

-18-11

14

45

-5

-7107

5

6

34

-11797

73

C.— U.S. share in reinvested earningsof foreign corporations

1968'

Total

2,175

1,491

772

456

211

108

26205354

136

-663

-1110242

104

159

1201226

495

358

299

6347

63574319

563

59

51

51135

23

63

71541

188

1969 v

Total

2,532

2,083

937

845

151

455

7684

2392828

239

4137

1113371

105

196

1389

50

500

376

362

6955-1308343141161-3

14

67

36

58

-40

97

102661

-52

Min-ing &smelt-

ing

168

96

77

5

(**)

(**)(**)(**)

(**)

(**)(**)

(**)

14

12

2

72

42

42

11

(**)(**)

26(**)2(**)

1

29

(**)(**)

29

(*)

1

(**)(**)

Petro-leum

-59

-52

95

-198

-41

-147

-243

-77-35-15

-9

-5-1-1-8-3

8

15

36

(**)(**)(**)

-7

-15

11

151

(**)15

r)2(**>2

-14

-26

21

(**)(**)

20

-45

32

(**)(**)(**)

(*)

Man-ufac-turing

1,901

1,627

599

820

169

549

7082

3005146

101

55

-115

4651

85

123

866

31

273

225

213

5219

-228651

103

334

12

7

(**)(**)

2

39

76

25

Other

522

412

166

218

24

53

29i1612

-4

146

49

18148913

5

23

393

17

162

123

96

430

(*)23

1636

266

28

10

362

3

26

31937

-52

D.— Earnings

1968'

Total

7,022

3,347

1,490

1,369

503

543

8991

2584956

323

-3-11917

20586

167

321

19514

111

3,444

1,574

1,355

1329739

12616015517

10449036

219

568

2050642

1,091

211

2155

135

231

1969 P

Total

7,955

3,971

1,542

1,855

488

888

135175467

7041

479

119

2225

291120

181

393

24719

127

3,747

1,634

1,401

14112126

13915716234

11946538

233

681

17611

52

1,153

279

2765

187

237

Min-ing &smelt-

ing

844

330

233

10

(*)

(**)

R(**)

(**)

(**)(**)

(**)

87

50(*)36

513

449

334

18

3(**)(**)

141(**)

104(*?4

116

67

(**)(**)

57

(*)

-3

(**)(**)

Petro-leum

2,494

76

223

-196

-59

-129

-2216

-59-36-27

-8

-8-10

3-8-317

19

30

(**)(**)('*)

2,287

462

412

49

-3(**)

21(**)

11(**)

3347

50

577

(**)(**)-27

1,133

115

(**)(**)(**)

132

Man-ufac-turing

3,185

2,633

806

1,462

426

878

93153487

8460

159

96

-2127658

142

223

1621248

552

457

438

104321

91123-3187

576

19

9

(**)

'"I

5

81

212436

Other

1,432

931

280

579

121

140

636

40228

328

10132121

21745

19

53

347

43

395

266

218

15802548122448

7411

48

28

17611

13

15

86

741

151

106

E. — Income

1968'

Total

4,973

1,976

851

905

275

434

5765

2084361

196

7-81729

10546

60

160

852

74

2,948

1,218

1,049

6758359475

1441695

43034

169

519

15496

9

1,070

141

113495

48

1969 P

Total

5,639

2,067

762

1,026

327

453

5492

2344230

246

8-31517

15752

70

209

1311068

3,273

1,277

1,049

747929

11566

11420

10840142

228

616

15606-4

1,196

184

1438

133

298

Min-ing*smelt-

ing

664

224

152

5

(*)

(**)

(**)

R(**)

(**)(**)

(**)

67

37(*)29

439

404

287

6

3(**)(*A<%(*?3

116

39

(**)(**)

28

-4

(**)(**)

Petro-leum

2,635

199

152

35

2

29

-31232-1

-12

4

-2-8

3(*)

11

7

5

(**)(**)(**)

2,298

472

395

24

-4("\<*?0('&

22

78

558

(**)(**)-46

1,181

87

(**)(**)(**)

137

Man-ufac-turing

1,325

1,042

255

632

233

336

2471

1783430

63

4199

318

49

106

846

16

284

237

226

54143

6853

-494

232

10

2

(**)(**)

2

3

42

111614

Other

1,014

600

202

354

92

88

338

241012

179

6538

12533

13

31

104

22

253

164

140

126226479

1022

486

24

18

1560612

12

59

222

119

161

Line

1

2

3

4

5

6

789

1011

12

131415161718

19

20

212223

24

25

26

27282930313233343536

37

38

394041

42

43

444546

47

5. Includes Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. 8. Includes United Arab Republic (Egypt) and all other countries in Africa except South6. Includes Bolivia, Dominican Republic, Ecuador, Haiti, Paraguay, and Uruguay. Africa.7. Includes all of the Western Hemisphere except Canada and the 19 Latin American 9. Includes Bahrain, Iran, Iraq, Israel, Jordan, Kuwait, Lebanon, Qatar, Saudi Arabia,

Republics included in line 26. Southern Yemen, Syria, Trucial States, Oman, and Yemen.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis


Table 7.—Net Capital Flows BetweenPrimary and Secondary Foreign Affiliates

[Millions of dollars; net inflow (-)]

Canada

Europe -

FranceGermanyItalySwitzerlandUnited KingdomOther .

Latin American Republicsand other WesternHemisphere

ArgentinaMexico - ---PanamaOther

Other countries

1965

—8

43

22-22

—9772

-22

-8

—5-5

8—6

-27

1966

16

30

—6— 16

—72847

—16

-6

427

— 19

-40

1967

1

10

6—31330

—15-21

-20

—13

10-32

9

1968

i

-5

—3—2

8—11

4-1

6

-31

-210

(*)

1969 *

7

2

—196

116

-2826

-8

3-1

-133

-1

» Preliminary.* Less than $500,000±.

The value of manufacturing enter-prises in the less developed countriesincreased by only $0.5 billion in 1969,with the bulk of the rise going to theLatin American Republics.

Petroleum. Investment in petroleumaffiliates amounted to $20.0 billion atthe end of 1969, an increase of $1.1 bil-lion from 1968. This increase was sig-nificantly smaller than the $1.5 billionrise in 1968, and reflected smaller capi-tal outflows and an adverse shift inreinvested earnings. During 1969, infact, petroleum companies actually re-ported negative reinvested earnings of

Table 8.—Acquisitions and Sales byAmerican Companies of Foreign Enter-prises l by Area and Industry


Area andindustry

All areas

PetroleumManufacturing.Other industries

Canada .. ...


Europe - .


Other areas


Acqui-sitions

800

33650117

137

810029

516

5464

47

147

208641

1968

Sales

220

1114168

3

""(*)"2

145

112717

72

101449

Net

580

2250849

135

810026

371

433630

75

1072-8

Acqui-sitions

805

31543231

222

2814252

466

(*)329137

116

27241

1969

Sales

163

(*)9073

40

"~27~13

50

(*)3713

73

(*)2647

Net

642

31453158

182

2811440

416

(*)292124

43

247-6

* Less than $500,000.1. Includes acquisitions and sales of minority interests.

$59 million, compared with positive re-invested earnings of over $0.2 billionin 1968. Disinvestment resulting fromrepatriating earnings in excess of cur-rent earnings was particularly notice-able in the case of certain tankeraffiliates of oil companies, and in theMiddle East. The increase in bookvalue of petroleum industry invest-ments in the developed countries ac-counted for $525 million of last year's$1.5 billion increase, while the less de-veloped countries received $334 million;petroleum affiliates in the international,unallocated category (which is not in-cluded in either of the preceding twocategories) accounted for the remaining$239 million.

The increase in book value of Cana-dian petroleum affiliates in 1969 wasalmost $0.3 billion, about the same asin 1968. The value of investments inEuropean petroleum enterprises in-creased by less than $0.2 billion in 1969as capital outflows dropped to $0.2 bil-lion. Earnings were negative (more sothan in 1968) which resulted in nega-tive reinvestment of $0.2 billion; how-ever this was largely offset by positivevaluation adjustments.

The $334 million rise in book valueof petroleum investments in less de-veloped countries was less than halfthe 1968 increase. The increase ininvestment in African petroleum affili-ates was limited by a large fourthquarter build up of accounts payableby U.S. companies to their producingbranches, especially in Libya. Invest-ment in Middle East petroleum enter-prises was practically unchanged from1968 as larger capital outflows for theyear were offset by negative reinvestedearnings.

The increase of investment in inter-national tanker affiliates was slightlyless than in 1968. The financing of newsuper tanker purchases attracted largecapital outflows, but larger than usualdividend payments by several com-panies led to negligible reinvestedearnings.

Mining and smelting. U.S. direct in-vestment in foreign mining enterprisesincreased by $0.2 billion during 1969,much less than the rise in 1968. Re-invested earnings were the same eachyear, at about $150 million, while

capital outflows declined from $0.4billion in 1968 to less than $0.1 billionin 1969. The involuntary sale of 51percent ownership in two Chilean min-ing ventures reduced investment byover $0.2 billion. Even excluding thesetransactions the rise in investmentwould have been less than in 1968 dueto the fact that some important invest-ment projects in Australia werecompleted.

Earnings of Foreign AffiliatesBillion $ (ratio scale)10

C H A R T 11

8 -

6 ~

BY INDUSTRY GROUP

TOTAL\

Petroleum

\

Manufacturing

Other

MANUFACTURING AFFILIATES

Other

.2 I I I I I I I I I I I

1960 62 64 66 68 70

U.S. Department of Commerce, Office of Business Economics 70-10-


October 1970 SUEVEY OF CUREENT BUSINESS 31

Transportation and public utilities.(Formerly public utilities; there hasbeen no change in the composition ofthis category.) The $2.7 billion book

value of U.S. investments in the trans-portation and public utilities industriesat the end of 1969 was essentiallyunchanged from 1968, as a small capital

outflow was offset by negative rein-vested earnings. Capital outflows de-clined from 1968 to 1969; flows wereenlarged in 1968 by security issues in

Table 9.—Selected Data on Direct Investments Abroad, by Major Areas


Area and year

All areas:196019611962 . . .1963196419651966196719681969

Canada:196019611962 .._196319641965 . .1966 .196719681969

Europe:I9601961196219631964196519661967 .-.1968.1969

Japan :19601961 _1962196319641965_ . .196619671968 _1969

Australia, New Zealand,and South Africa:

196019611962 _1963 _19641965 _19661967 _19681969__

Latin American Republicsand other \\ esternHemisphere:

196019611962 __196319641965 __196619671968.. .1969

Other areas:196019611962. _196319641965.1966__ . . . .19671968 _1969

Book value at yearend

Total

31, 86534, 71737, 27640, 73644, 48049, 47454, 79959, 49164, 98370, 763

11,17911, 60212, 13313, 04413,85515, 31817, 01718, 10219, 53521, 075

6,6917,7428,930

10, 34012, 12913, 98516, 23417, 92619, 40721,554

254302373472598675756870

1,0501 218

1,1951,3311,5391,7832,0532,3342,6553,1723,5083,854

8,3659,2399,5249,941

10,25410,88611, 49812,04913, 10113,810

4,1814,5014,7775,1565,5916,2766,6407,3728,3839,250

Mining&

smelt-ing

2,9973,0943,2443,4193,6653,9314,3654,8765,4355,635

1,3251,3671,4891,5491,7131,8512,0892,3422,6382,764

49485055565454616172

7988

107145168227324419446479

,319,332,321,353,404,474,565,709,930

1,922

225259277317324325334346360398

Petro-leum

10, 81012, 19012, 72513, 65214, 32815, 29816, 22217, 39918, 88719, 985

2,6642,8282,8753,1343,1963,3563,6083,8194,0944,359

1,7632,1522,3852,7763,1223,4274,0034,4234,6364,805

125158198260315321331347405447

373433483527570616646720787836

3,1223,6743,6423,6363,5893,5463,4753,4733,6803,722

2,7632,9453,1423,3193,5364,0324,1594,6175,2855,816

Manu-factur-

ing

11, 05111,99713, 25014, 93716, 93519, 33922, 07824, 17226, 41429, 450

4,8275,0765,3125,7616,1986,8727,6928,0958,5689,389

3,8044,2554,8835,6346,5877,6068,8799,798

10, 79612, 225

91103122145207275334425522639

602636742881

1,0531,1851,3321,6401,8302,029

1,5211,7071,9442,2132,5072,9453,3183,5864, 0054,347

206220247303383456524629693821

Other

7,0077,4368,0578,7289,552

10,90612, 13413, 04414, 24815, 693

2,3632,3312,4572,6002,7483,2393,6283,8474,2354,563

1,0751,2871,6121,8752,3642,8983,2973,6453,9144,453

3841526777799198

123132

141176206229263305354394445510

2,4032,5262,6172,7392,7542,9213,1413,2823,4863,821

9871,0751,1131,2181,3461,4641,6221,7792,0462,215

Net capital outflows

Total

1,6741,5991,6541,9762,3283,4683,6613,1373,2093,070

451302314365298962

1,153408625619

962724868924

1,3881,4791,8341,4581,0011,158

18295468781932347863

2389

127109137175167364171153

149219

29235113271307296677344

71236262275312562167578657732

Mining&

smelt-ing

155709785

136138305330440

52

1999

857

9151

17217319550

(*)(\12

-117

-26

-637

12115777702219

-6032

-132430436071

227-31

22261541

2-12-5

9-1

8

Petro-leum

452793606828760977885

1,0691,2311,022

13510015918825

179155115169178

273*376229362414342657523317204

923415551-3-1(*)4627

-6422426314311484023

2463

-6757

-74-37-6617756

17189220192232490100448482534

Manu-factur-

ing

801462712774

1,0341,5251,7521,234

9451,122

2911712

1201403955662026

231

607233453395619760899683562577

779

12232122311132

24207961644865

2238369

12578

133150137245160199222132

97

2636505641774081

Other

266274239289398828718504592873

8876585042

337260100236161

82115183166353378277244123372

3-1

4142

113

214

1124169

322713232641

6046

-2456

-6157

1259250

187

221427

28273343

136108

Earnings

Total

3,5663,8154,2354,5875,0715,4605,7026,0347,0227,955

718726825948

,106,209,237,327,490,542

769837844996

1,1151,1761,1611,1431,3691,855

32343349599191

123167181

162151196226229246292299320393

9701,0791,1791,125

2441,3201,4521,3981,5741,634

915988

1,1581,2431,3181,4181,4691,7452,1022,349

Mining&

smelt-ing

394362372388512571659746795844

889697

127191198191240275233

1085448

1068

10

25212021304263666487

224206230219266290359397392449

47312017213336365564

Petro-leum

1,3021,4761,6951,8241,8081,8301,8682,1202,4492,494

98114121149170183196207243223

916360678

-41-79-99

-137-196

14135

114

1416212019

221928-20101122181830

370478543532539513512519531462

707789938

1,0451,0771,1501,2011,4551,7741,957

Manu-factur-

ing

1,1761,2031,3071,5411,8522,0222,1042,0552,5193,185

398360460525565606628613672806

487530496627782859860847

1,0411,462

810122841555685

127142

10189

129155168157161176192223

147172173171243289342269408457

35423735535657667995

Other

694774861834899

1,0371,0711,1121,2591,432

134156147147180222222267300280

181236283298321350370388457579

10111610152219162019

14222029223646384653

229223233203196228239213243266

126127162147165179175189194235

Income

Total

2,3552,7683,0443,1293,6743,9634,0454,5184,9735,639

361464476455634703756790851762

397486526507659768729849905

1,026

15151921304743466070

7110310797

106140138138161209

719824891956

1,011995

1,1131,1901,2181,277

792876

1,0251,0931,2341,3101,2661,5051,7772,294

Mining&

smelt-ing

337297318321403442524596644664

47516080

118110120154169152

1197658

11765

18141313183639385567

234198221210245266327365374404

27251712172227324136

Petro-leum

1,1501,3361,5651,7151,8561,7991,7811,9892,2712,635

60787980

118122112132160152

554763736417461

35

5377898987

-12

-53463

-5-2

5

331438488544531476499480489472

700768933

,008,131,169,155,367,614

1,963

Manu-factur-

ing

550722746656893

1,0941,1161,1931,2651,325

176213221192269315354296301255

241326334305427532489561582632

45478

1718223749

457887656579798382

106

6475717098

123147195216237

20252917262829364847

Other

318413415437522628624740793

1,014

78122116103129156170208221202

90104122123163211225275316354

6798

142117151513

8111316191917222631

90113111132137130140151139164

465644556091556974

250

* Less than $500,000 (±).


32 SUEVEY OF CUEKENT BUSINESS October 1970

the United States by a U.S.-ownedCanadian gas transmission compay.

Negative reinvested earnings in 1969were mostly the result of a largedividend payment by an internationalshipping company to the U.S. parentout of accumulated earnings of previousyears.

Tirade and other industries. U.S.direct investment in trade and "other"industries increased $1.4 billion lastyear, up from a rise of $0.9 billion in1968. In developed countries the 1969rise was $0.9 billion. Investment inEuropean trade and "other" industriesgrew by over $0.5 billion; this was aboutdouble the 1968 increase and reflectedthe need for funds both to finance re-cievables and inventories of tradingcompanies and for the acquisition ofbanking, financial and service com-panies. The book value of U.S. invest-ment in trade and "other" industriesin the less developed countries increasedby $392 million with $325 million goingto the Latin American Eepublics andother Western Hemisphere countries.In the less developed countries, U.S.investment in agricultural enterprisesand trading companies accounted forabout one-third of the increase whilemost of the remainder went to serviceand finance enterprises.

Earnings

Earnings (not adjusted) on U.S.direct investments abroad in 1969 werenearly $8.0 billion, up $0.9 billion over1968 (table 6D, chart 11). U.S. equityin the earnings of affiliates in the lessdeveloped countries increased moder-ately to more than $3.7 billion in 1969,while earnings in the developed coun-tries increased sharply to $4.0 billion.Earnings of the international, unallo-cated category were $0.2 billion in bothyears.

As a result of the continuing climbin earnings, the rate of return on allU.S. foreign direct investments rose to13.0 percent in 1969, higher than anyyear in the 1960's during which theaverage annual yield was 12.6 percent(chart 12). For all industries combined,yields in the less developed countrieswere consistently higher than those inthe developed countries. However, mostof this difference reflected the structure

of the earnings distribution of petroleumaffiliates; earnings in petroleum pro-ducing countries are consistently re-ported as higher than those in developedconsuming countries. When rates ofreturn on manufacturing are compared,yields in the two areas are about thesame. In 1969, the rate of return onmanufacturing investments was 12.7percent in the less developed countriesand 12.9 percent in the developedcountries; for the decade, the annualaverage return on manufacturing in-vestments in each area was 11.8 percent.

With the rise in the rate of return onmanufacturing investments abroad to12.8 percent in J969, the rate of returnof 12.6 percent on comparable domesticinvestments 2 was exceeded for the first

2 Petroleum investments are excluded both from manufac-turing abroad and from domestic manufacturing. While therates of return are calculated somewhat differently (seechart 12), the comparison made is probably the mostappropriate one.

time in a number of years. Over the pastten years yields on domestic invest-ments averaged 12.4 percent, onlyslightly higher than the 11.8 percentaverage on direct investments abroad.Their movements over the years, how-ever, have been significantly different,partly reflecting cyclical factors. Do-mestic yields were lower than yieldsabroad in the early 1960's reflectinglower profits associated with the do-mestic recession early in the decade.As the recovery progressed domesticyields surpassed those on foreign in-vestments and reached a peak of 14.7percent in 1966; during that year thereturn on foreign manufacturing in-vestments was only 11.5 percent.

The gap was gradually closed duringthe next few years when economicexpansion abroad was particularlystrong. In 1969, the return on foreigninvestments continued to rise while

Table 10.—Net Capital Outflows to Manufacturing Affiliates by Industry[Millions of dollars]

Area and year

All areas :196519661967.-1968r

1969P

Canada :1965 .196619671968r

1969 P

Europe :1965196619671968r

1969P ...

Japan :1965196619671968*-1969P

Australia, New Zealand andSouth Africa :

1965196619671968r

1969 P

Latin American Republics andOther Western Hemisphere:

19651966 ...19671968r

1969P .

Other areas:196519661967 .1968r . .1969 P

Man-ufac-

turingtotal

1 5251,7521,234

9451,122

3955662026

231

761899683562577

2122131132

4865

2248369

245160198222132

5540954081

Foodprod-ucts

11610884

100124

1817

— 102152

4151655054

2(*)

2(*)(*)

8235

1012

511112121

-36

1075

Paperand

alliedprod-ucts

9915168

—7— 11

6312648

— 16—45

1322119

28

1112

(*)

334

—1— 1

19(*)

3-1

6

111

(*)1

Chem-icalsand

alliedprod-ucts

292503428293157

70906821

—2

97280201164101

5(*)

7128

1717152518

82998554

-4

2117501636

Rub-ber

prod-ucts

16192549

5-2

7—8

9

2162

— 1(*)

(*)(*)

(*)(*)

12-2

86

-8

-156

(*)1

-22267

Pri-maryand

fabri-cated

metals

84134242160135

724

-232915

6075

1009563

1111

11

-2016

1311820

2014342224

164

(*)-6

3

Ma-chineryexceptelectri-

cal

28621511671

177

27322

(*)51

2401576568

109

241

-10-8

113

1063

113174

21

55

2123

Electri-cal ma-chinery

96134115—2210

1329

(*)(*)

61

5384

108-28111

712

(*)^ 2

5

2-3

1103

10919

10

11446

20

Trans-porta-tion

equip-ment

405317

501

88

173246

-73-91

38

176918223-2

(*)(*)

(*)5

172

44102

38-22-45844

1(*)

221

Otherindus-tries

131170108326232

2051

7053

7812449

181112

3314

11

-175

-120

2730456429

4(*)

777

r Revised. v Preliminary. *Less than $500,000 (±).


October 1970

domestic yields fell with the slowdownin domestic growth.

While these cyclical developments nodoubt had a major influence on therates, other factors were also important.New investments require a seasoningperiod before they reach their normalprofitability. Since a larger portion ofmanufacturing investment abroad isnew, compared with domestic manu-facturing investment, this probablycontributed to holding the average rateof return on investment abroad belowdomestic rates. Barring adverse cyclicaldevelopments or a surge in new invest-ments, as the sizable amounts ofnew investments made abroad in the1960's pass from the initial startupperiod—when costs are high and mar-kets are being developed—to the "sea-soned" stage, total earnings and therate of return should tend to improve.

The increased earnings in 1969 prin-

SURVEY OF CURRENT BUSINESS

cipally reflected increases of $666 mil-lion in manufacturing industries and$172 million in "other" industries;mining and petroleum affiliates showedincreases of less than $50 million.

Earnings of manufacturing affili-ates in Europe surged upward by 40percent to $1,462 million, with Ger-many accounting for $224 million ofthe increase. Earnings of manufactur-ing affiliates in Germany were almostdouble the 1968 level, no doubt reflect-ing the strong growth there. In Canada,manufacturing was the only industryshowing increased earnings in 1969and accounted for $806 million oftotal earnings of $1,542 million.

The U.S. share of earnings of petro-leum affiliates in the developed coun-tries dropped from $144 million in 1968to $76 million in 1969. This was due tohigher costs for crude oil and products,mostly as the result of increased tanker

Rates of Return1 on U.S. Direct Investments Abroad andDomestic Manufacturing Excluding Petroleum

CHART 12

ALL INDUSTRIES ABROAD MANUFACTURINGPercent

22 -

Percent

14

Developed Countries

Less Developed Countries

\18 -

16 -

10-\

Developed Countries

\

10 -

8

16

- 14 ~

- 12 •**

- 10 -

\Less Developed Countries

i I i i i i i I i t

U.S. DomesticExcluding Petroleum

I I I1960 62

I I64

I I

66

I I68 70

I I I

1960 62

1 i

64

t I

66

I 1

68 70

1. Return on direct investments represents earnings plus interest (on intercompany accounts) applied to book value at beginning of year. Return on domesticmanufacturing represents net income applied to net worth at beginning of year (as computed by First National City Bank of New York).

2. Data in the direct investments category "international, unallocated" is included in the figures for all areas but excluded from the figures for developed andless developed countries.

U.S. Department of Commerce, Office of Business Economics 70-10

33

costs, which eroded profits of refiningand marketing affiliates. European pe-troleum affiliates suffered particularlyhigh losses of $196 million in 1969,reflecting not only the higher tankerrates but also higher levels of explora-tion and development expenses in theNorth Sea offshore ventures. Earningsof petroleum affiliates in the less devel-oped countries increased by $126 millionin 1969 despite a decline of $69 millionin earnings in the Latin AmericanRepublics and other Western Hemi-sphere countries. Higher costs of pro-duction and large expenditures inEcuador and Colombia, for developingproducing fields and construction ofpipelines and other facilities, were themajor reasons for the decline in thelatter area. Petroleum earnings in theother less developed countries increasedby $195 million to $1,825 million in1969, reflecting increased production.Even in these countries, however,earnings were constrained by highertaxes and other costs which were notmatched by increases in prices for crudeoil at the producing level.

Direct investment income

Income from direct investmentsamounted to $5.6 billion in 1969, anincrease of over 13 percent from 1968;this was about equal to the percentageincrease in earnings (table 6E). Adisporportionately large share of theincreased income—$250 million out of$666 million—was from affiliates in theinternational, unallocated category.This is largely the result of unusuallylarge dividend payments by tankeraffiliates of oil companies. Developedcountries accounted for $91 million ofthe total increase in income and lessdeveloped countries $325 million.

Income includes net interest receivedon intercompany accounts and on theU.S. non-bank held portion of the for-eign affiliates long-term debt. Interestis not included in earnings because itis deducted by affiliates as an expenseitem. Income out of earnings amountedto $5.2 billion in 1969, up by $580million from 1968; net interest receivedamounted to $481 million, an increaseof $86 million from 1968 and double the1965 level of $230 million. Not all of theincrease in interest receipts represents



a net gain to the U.S. balance of pay-ments because U.S. companies have tomeet interest charges for capital raisedoffshore which was relent to theirforeign affiliates.

Most of the increase in income frommanufacturing affiliates was the resultof additional interest receipts as most ofthe $0.6 billion gain in earnings wasreinvested and not returned to the U.S.as balance of payments income. Directinvestment income receipts from petro-leum affiliates increased about $0.4billion in 1969 and the $2.6 billion re-mitted as income slightly exceeded1969 earnings.

Direct investment royalties and fees

Royalties and fees received by U.S.corporations from foreign affiliates havegrown sharply in recent years to nearly$1.4 billion in 1969 (table 11). Thesereceipts from foreign affiliates representcharges to cover a portion of the funds

spent by the U.S. firms for research anddevelopment of new products andprocesses, as well as an allocation of theadministrative and other expenses in-curred by parent companies on behalfof their foreign affiliates. Foreign manu-facturing affiliates contributed about$0.9 billion, or 62 percent, of total re-ceipts of royalties and fees, and Euro-pean manufacturing affiliates accountedfor over half of this total.

Foreign Direct Investments inthe United States

During 1969 the value of foreigndirect investments in the United Statesrose $1.0 billion to $11.8 billion atyearend, following a $0.9 billion risein 1968 (tables 12 and 13). Capitalinflows ($832 million) and reinvestedearning ($431 million) tended to increaseinvestments by $1,263 million in 1969,

Table 11.—Direct Investment Receipts of Royalties and Fees,1 by Areas and MajorIndustries


Area and industry

All areas

PetroleumM anuf acturingTradeOther Industries

Canada

Petroleum .Manufacturing.TradeOther industries _ . . .

EuropeCommon Market

Petroleum .Manufacturing . ..TradeOther industries _ .

Other Europe (includingUnited Kingdom)

PetroleumManufacturing . . .TradeOther industries

Latin American Republics andother Western Hemisphere

Petroleum .Manufacturing.TradeOther industries

Other areas

PetroleumM anufacturingTradeOther industries

Total

756

11647958

103

162

15124

914

306150

g127

69

155

g1091523

148

32641734

140

51551122

1964

Royal-ties, li-cense

fees andrentals

264

132102219

41

(*)3533

14784

(*)7941

13

15066

36

22562

40

92146

Manage-ment

fees andservicecharges

492

1032693684

121

15896

11

15966

84828

93

8599

17

112

30391132

99

4234

716

Total

1 246

160801112174

261

151951634

511269

232062712

242

201791627

226

331192747

248

681012653

1968 '

Royal-ties, li-cense

fees andrentals

522

154354329

77

(*)6961

294173

(*)161

83

121

2971210

73

35695

78

9518

10

Manage-ment


724

145366

69145

184

151261033

21796

2345199

121

1882

417

153

30631842

170

59501843

Total

1 369

191853131194

268

191861548

588299

222412214

289

262043821

239

391082764

275

841142946

1969 P

Royal-ties,

licensefees andrentals

641

305107625

92

18264

381215

1194165

165

3122346

74

752105

94

186195

Manage-ment


729

16134356169

176

19105

844

20784

214769

123

23824

15

165

32561759

181

66532041

p Preliminary. r Revised * Less than $500,000 1. Excludes foreign film rentals.

but this was partially offset by a $260rfiillion downward adjustment in thevalue of assets held by foreign-ownedU.S. companies, primarily securitiesheld by insurance companies. In 1968,capital inflows were much smaller butvaluation adjustments were favorable.

Capital inflows to the U.S. affiliatesin 1969 reflected new investments of$538 million and other inflows—mostlyshifts in intercompany accounts—of$294 million. New investments in man-ufacturing companies rose sharply whilethose in petroleum companies declined.In 1968 a foreign international petro-leum company purchased more than$200 million of stock in its U.S. sub-sidiary and there was no similar trans-action in 1969. The rise in new invest-ments in manufacturing was fairlywidespread, but investments by Ger-man parent companies in U.S. chemicalaffiliates were particularly large.

Capital inflows other than new in-vestments showed a $400 million favor-able swing from an outflow of $107million in 1968. Of this shift, $310million was due to an increase in thepayables (liabilities) of U.S. companiesto their foreign parents in 1969. During1968 transactions on inter-companyaccount had shown hardly any change.Besides the shifts on inter-companyaccount, liquidation of direct invest-ment assets in th^ United States re-sulted in outflows of only $17 millionin 1969 compared with $108 million in1968; this represented a favorable shiftof $90 million.

Despite the increased investment inthe United States during 1969, earn-ings of foreign-owned companies de-clined slightly from $868 million in 1968to $834 million in 1969. This declinemainly reflected lower profits in thepetroleum industry. Earnings of do-mestic corporations, including those inthe petroleum industry, also fell in 1969.

Even though total earnings fellslightly, income paid to foreign parentorganizations, primarily dividends oncommon stock, rose to $417 million in1969 from $388 million in 1968. Thelower earnings coupled with increaseddividend payments resulted in rein-vested earnings of only $431 million in1969, down $57 million from 1968.



U.S. Portfolio InvestmentsAbroad

The market value of foreign stocksand bonds held by U.S. residents isestimated at $18.7 billion at yearend1969, an increase of $0.5 billion duringthe year (table 2, lines, 7, 8, 9). Out-flows of U.S. funds for purchases ofsuch securities totaled $1.5 billion dur-ing the year, but rising interest ratesand falling bond prices resulted in a$1.0 billion decline in the value of out-standing holdings.

U.S. holdings of foreign bonds re-mained unchanged from end 1968 toend 1969 at $11.7 billion. The reductionin value due to a sharp drop in bondprices was offset by net balance of pay-ments outflows to acquire additionalbonds amounting to $1.0 billion. Out-flows of U.S. funds to purchase newforeign issues of bonds amounted to$1.5 billion and were down slightly from1968; issues by the World Bank and byless developed countries declined, al-though new Canadian issues increased

(table 14). Inflows due to redemptionsand to U.S. net sales of outstandingbonds amounted to $0.5 billion.

The market value of U.S. holdings offoreign stocks rose by nearly $0.5 bil-lion to $7.0 billion at yearend 1969,largely due to $0.3 billion in net pur-chases of outstanding Japanese stocksplus $0.2 billion in purchases of newissues (included in table 14); nearly halfof the new issues were Canadian oilstocks. Price changes had little impacton the value of outstanding holdings offoreign stocks.

The significant reduction in theInterest Equalization Tax in April1969 apparently had little impact onforeign placements of securities in theUnited States, as nearly all new issuesactually placed were exempt. Esca-lating domestic long-term interest ratesduring the year were an importantfactor in reducing foreign bond place-ments in 1969, particularly by theWorld Bank and less developed coun-tries. In Canada, on the other hand,demand pressures were quite strong,which led to increases in local borrow-

ing and in placements in the UnitedStates.

In the first half of 1970 interestrates in the United States continuedupward and foreign bond placementsfell to $518 million. A significant dropin Canadian new issues, which wasconcentrated in the second quarter,accounted for most of the decline;this tendency was reinforced by some-what more favorable borrowing con-ditions in Canada.

Foreign Portfolio Investmentsin the United States

After an extraordinary $6.1 billionincrease in the market value of foreignportfolio assets in the United States in1968, the value of such holdings de-clined by $0.8 billion in 1969 to $22.9billion at yearend (table 2, lines 29 and30). A $3.9 billion decline in the value ofoutstanding securities due to decliningprices of both U.S. equities and bondswas only partly offset by $3.1 billion incapital inflows due to net purchases by

Table 12.—Foreign Direct Investments in the United States, Selected Data Items, Countries, and Industrie[Millions of dollars]

Area and industry

Total

By area:

CanadaEurope

United KingdomEuropean Economic Community

Belgium and LuxembourgFrance ., .GermanyItalyNetherlands

Other Western EuropeSwedenSwitzerlandOther . .

Japan .Latin American Republics and other Western

HemisphereOther

By industry:

PetroleumManufacturing .TradeInsuranceOther financeOther .

Book value at yearend

1967

9,923

2,5757,0053,1562,405

22826531886

1,5081,444

2391,096

109

108

19243

1,8854,181

8483 2, 193

(*)816

1968'

10,815

2,6597,7503,4092,790

27328838792

1,7501,551

2051,238

108

181

18243

2,2614,475

9383 2, 305

(4)836

1969 P

11,818

2,8348,5103,4963,306

30931961795

1,9661,708

1991,395

114

176

193105

2,4935,344

9593 2, 189

(*)833

Net capital inflows

1968'

Total

319

-262971142122510342

141-29-74

51-6

60

-10-2

231-23

325

4727

Newinvest-ments 2

426

49303109190

(t)«138

4

4

74

(*)

2128167

606

Other

-107

-75-6

5222510

-1823

-33-74

47-6

-14

-10-2

19-104-35

5-13

21

1969 P

Total

832

24355086

3631917

204-2125101-9107

3

-34

1162

142567

-41661385

Newinvest-ments 2

538

84359

56244

5134

10559

581

25

862

1540123

1485

Other

294

15919130

119191270-22042-949

2

-59

3(*)

127166

-6466-1

Earnings i

1968 r

868

152687271285

2223435

19213112

1136

26

(*)3

2634108173

5383

1969 P

834

1226582722591925228

185127

8118

1

41

112

2194148875

544-6

Income l

1968 '

388

64308149111

51171

87487

392

15

(*)

1091372573

52816

1969 P

417

47348159132

612103

101576

492

9

121

1241492175

53612

Reinvestedearnings l

1968 r

488

1023711081731913354

102904

815

13

(*)2

14328057

13-5

1969 *

431

843181071301714135

81813

78(*)

29

(*)(*)

9027662

14-11

r Revised. P Preliminary. * Less than $500,000(±).1. "Earnings" represents the foreign share in corporate and branch earnings; "income"

is the amount distributed to foreign owners, after withholding taxes, BS dividends, interestand branch profits. See technical appendix for an explanation of the relation between income,earnings, and reinvested earnings.

2. "New investments" consists of the first reported capital inflow to establish or acquire

a new company or operation in the United States and the cost of acquisition of additionalshares of existing companies.

3. Includes market revaluations of securities held by insurance companies.4. Included in "insurance."5. Interest paid by agency banks in the United States to foreign home offices has been

excluded from direct investment totals.


36 SUEVEY OF CUKRENT BUSINESS October 1970

Table 13.—Value of Foreign Direct Invest-ments in the United States by MajorIndustry and Country—End of 1969


All areas

Canada .. -Europe _

United Kingdom.NetherlandsSwitzerlandOther

Other areas

Total

11,818

2,8348,5103,4961,9661,3951,653

474

Petro-leum

2,493

1322,322

8291,275

218

39

Manu-factur-

ing

5,344

1 6443,5301,176

5351,026

793

170

Insur-anceand

otherfinance

2,189

3251,7661,143

55323245

98

Tradeand

other

1,792

73389234810146

397

167

foreigners. In 1968, net purchases byforeigners accounted for $4.4 billion ofthe $6.1 billion increase in the value offoreign portfolio assets in the UnitedStates. At the end of 1969 foreignersheld $18.1 billion of U.S. stocks and$4.8 billion of U.S. bonds.

Stocks

The value of foreign held U.S. stocksdeclined by $1.4 billion in 1969 as$1.6 billion of foreign net purchases of

CHART 13

Yields on Bonds Placed Abroad by U.S.Incorporated Companies Compared WithYields on Corporate Bonds in theUnited States

Percent

10

EurodollarNonconvertible

Moody's Aaa

Eurodollar Convertible

i i i1965

I I I66

I I I67

I I I

68

I I

69

I I I

70

corporate stock were more than offsetby a $3.0 billion decline in stock valuesdue to price changes. In contrast, in1968, net purchases were higher at $2.1billion, and the value of outstandingstock holdings appreciated by $2.0 bil-lion. During 1968 when stock prices inthe United States were rising, therewas a broad foreign interest in equities,and foreign investment funds, whichhad been organized in the precedingyears, made very large purchases. Thesize of the U.S. market particularlyattracted the foreign investment fundsbecause trading in large blocks of stockcould be conducted without substan-tially affecting the price. In addition,unsettling political developmentsabroad, such as the invasion of Czech-oslovakia and the strikes in France alsoencouraged purchases of U.S. stocks.

In 1969, the lower inflow was appar-ently related to the fact that U.S.stock prices turned downward at thesame time that other foreign shareprices, except those in the UnitedKingdom, performed well. Also, Euro-dollar rates rose to 11 percent during1969 and provided an attractive alter-

Table 14.—Newly Issued Foreign SecuritiesSold to U.S. Residents


Issuer

Total*

Canada _ .Central government .Provincial government-

guaranteedMunicipal authoritiesCorporate issues

JapanInternational organizationsLess developed countriesOther developed countries

Memorandum items:New issues of corporate stock

included above

U.S. direct investment enter-prises * ...

In Canada. .In less developed countriesIn other developed countries

1967

1,619

1,007

601160246

14246352

4

4545

1968

1,703

94986

508101254

339032041

84

35429163

1969

1 667

1,27016

61684

554

9164211

14

156

6161

1970(Jan.-June

533

387

21910

158

49962

15

114114

1. New issues of U.S. direct investment enterprises placedwith other than parent are not included with new issues butare recorded in the direct investment account.

native for funds that might otherwisehave been invested in U.S. equities.

As U.S. stock prices dropped pre-cipituously in the first half of 1970,foreigners made net sales of $0.2 billion.The fact that sales were so small relativeto the $19.6 billion in outstandingholdings at the end of 1969 suggests a

Table 15.—Foreign Security Placements by U.S.-Incorporated Companies, by Type


1965*IIIIV

1966IIIIIIIV

1967IIIIIIIV

1968IIIIIIIV

1969IIIIIIIV

1970*III

Straight debt: Payable in—

Dollars

672047

16155511045

22560757020

27890157598

20785

14108

286106180

Deutschemarks

55

55

56

2531

15

15

277

19110148

22663

8875

Swissfrancs

1010

33111111

9412411427

77271436

281414

Othercurrencies

3323153 17

Convertible: Payable in —

Dollars

75

75

18212062

17720105097

1,540494526406114

500232958786

802258

Deutschemarks

190

180

10

Othercurrencies

244

244

*84 8

Total i

19'2(

17

59<1829J3,8(

45(9

111311

2,1859606038

l,0fr40152226

431626


* Six-month total.1. These amounts differ from balance of payments figures which are net of placement costs.2. Payable In British sterling.3. Payable in Dutch guilders.4. Payable in Swiss francs.


October 1970 SUEVEY OF CUEEENT BUSINESS 37

certain stability and long-term focusof foreign investments in U.S. equities.

Bonds

Foreign investments in U.S. bondsrose $0.6 billion in 1969, compared with$2.1 billion in 1968. Inflows of fundswere $1.5 billion in 1969, down sharplyfrom the $2.3 billion inflow in 1968. Inaddition, rising interest rates resultedin a $1.0 billion reduction in the valueof outstanding holdings, compared witha reduction of only $0.2 billion in 1968.

The drop in foreign purchases of U.S-bonds largely reflected economic andinstitutional factors affecting U.S. cor-porate foreign borrowing. The largeincrease in new issues of securities soldabroad by U.S. corporations in recentyears was partly in response to theForeign Direct Investment Program.Under this program direct investmentsby U.S. companies which are financedby funds raised abroad are not subjectto restriction. In 1968, when the pro-gram first became mandatory, U.S.corporations raised $2.1 billion frombond placements with foreign investors.In 1969, such issues fell, but they stillamounted to $1.0 billion (table 15).

A sharp tightening in the Eurobondmarket and national capital marketsabroad was probably a major factor inthe 1969 decline in these issues(chart 13). In addition, the generalweakness and uncertainty in U.S.stock markets made new bond issuesconvertible into U.S. stock at a fixedprice much less attractive to foreigners;such offerings were reduced from $1.5billion in 1968 to $0.5 billion in 1969(table 15). The fact that U.S. corpor-rations had nearly $1.0 billion of unusedproceeds of earlier borrowing at end1968, may have also discouraged fur-ther new issues in 1969.

U.S. corporations continued to estab-lish Netherlands Antilles finance sub-sidiaries during the year as means forraising money in the Eurobond market.Tax considerations provided a majormotive for establishing such subsid-iaries. Security issues by these subsid-iaries usually carry the guarantee of theU.S. parent company. For balance of

payments purposes, these issues areconsidered net purchases of U.S. obliga-tions by foreigners only to the extentthat the finance subsidiaries transfer theproceeds to the U.S. parent. During1969, $283 million of such proceedswere transferred to U.S. parents foreither foreign or domestic use.

In the first half of 1970, internationalbond issues by U.S. corporations de-clined further from 1969. Convertibleissues were still depressed, and the verytight market conditions encouragedU.S. borrowers employing straight debtto reduce maturities to medium-term5-year notes. Also, floating rate instru-ments were utilized by two U.S.corporations, with the rate on the issuespegged to the 6 months Eurodollarinterbank rate with a minimum rateclause. Such instruments are designedto avoid long-term commitments atrecord high interest rates.

In 1969, foreign transactions inoutstanding securities (including U.S.Government agency bonds) somewhatoffset the decline in new issues. TheWorld Bank increased its net purchasesof U.S. agency bonds by $0.2 billion to$0.3 billion. Furthermore, foreignersincreased their purchases of otheroutstanding U.S. bonds from $30 mil-lion in 1968 to $182 million as U.S.bond yields moved substantially up-ward. In the first half of 1970, netpurchases of agency bonds and of otheroutstanding U.S. bonds amounted to$188 million and $178 million,respectively.

Technical Note

The various direct investment earningsitems, including those shown in tables 6C,D & E, are defined below and their derivationand relationship to each other are detailed.

Item and definition

1. Net earnings of foreign corporations:The U.S. parents' equity in the earnings oftheir foreign subsidiaries after provision forforeign income taxes, preferred dividends,and interest payments.

2. Net earnings of foreign branches: Theearnings of foreign branches of U.S. companiesafter foreign income taxes, but before de-pletion charges and U.S. taxes. Included withnet earnings of branches are the U.S. sharein the net earnings of foreign partnerships,sole proprietorships and other types of foreignorganizations. All branch earnings are as-

sumed to be repatriated to the United Statesand thus are balance of payments flow items.To the extent that branch earnings are leftabroad they are implicitly entered as off-setting capital outflows.

3. Earnings: Net earnings of foreign cor-porations plus net earnings of foreign branches.

4. Gross dividends on common stock:Dividends paid out by foreign corporationsbefore deduction of withholding taxes paidto foreign governments.

5. Foreign withholding tax: A tax withheldon the payment of dividends as distinguishedfrom income taxes which are imposed on theearnings of a business. Taxes are also with-held by the payor on payments of interestand preferred dividends but both interest andpreferred dividends are reported to the Bal-ance of Payments Division on a net basis and,therefore, our data on withholding taxes relateonly to those on common stock dividends.

6. Dividends: Dividends on common orvoting stock only, net of foreign withholdingtaxes; dividends are included in income asbalance of payments flow items.

7. Preferred dividends: Dividends receivedon perference or non-voting shares afterdeduction of any foreign withholding taxes.Preferred dividends are included in income asbalance of payments flow items. Preferreddividends are treated like interest in theseaccounts even though on the foreign company'sbooks they are not charged as an expense.

8. Interest: The net interest received onintercompany accounts or on long-term debtof foreign affiliates held by the parent or othernonbank U.S. investors, after deduction ofany foreign withholding taxes. Interest is notincluded in earnings since it is deducted as anexpense item by the foreign firm, but, it isincluded in income as a balance of paymentsflow item.

9. Income: The sum of dividends, preferreddividends, and interest received by or creditedto the account of the U.S. owner—all netafter foreign withholding taxes—plus branchearnings after foreign taxes; all before U.S.taxes.

10. Reinvested earnings: Net earnings offoreign corporations less gross dividends oncommon stock.

11. Adjusted earnings: The benefits ofownership accruing to a U.S. foreign directinvestor after all foreign taxes, including with-holding taxes, have been paid; this is com-prised of (1) funds returned to the UnitedStates as income in the form of dividends, pre-ferred dividends, branch profits, and interest,plus (2) funds left abroad to increase theinvestor's equity in the foreign enterprise as areinvestment of earnings.

Derivation and relationship based on 1969preliminary data


1. Net earnings of foreign corporations. 5,381 reported2. Net earnings of foreign branches 2,574 reported3. Earnings 7,955 = 1+2

4. Gross dividends (on common stock). 2,849 = 5+65. Foreign withholding tax (on com-

mon stock) 282 reported6. Dividends (on common stock) 2,567 = 4—5

(reported)

7. Preferred dividends- 17 reported8. Interest 481 reported9. Income 5,639 = 2+6+7+8

10. Reinvested earnings... 2,532 = 1-4or 3-2-4

11. Adjusted earnings... 8,171 = 9+10or 3+7+8-5.


38 SUEVEY OF CUEEENT BUSINESS October 1970

(Continued from page 17)industry level. Mobile homes accounted forabout 80 percent of the output of the trailercoach industry in 1963 with the remainderaccounted for by smaller, recreational-typeunits. Because mobile homes accounted formost of the inputs to the industry and be-cause the same types of inputs are used inthe smaller units, it was assumed that theinput pattern for mobile homes was the sameas that for the total industry.

In order to achieve comparability with thedata on inputs to construction, the furnitureand appliances purchased by mobile homemanufacturers for installation in the unitswere omitted, while the trade margin on thesale of the mobile home to its final purchaserand the transportation from factory to sitewere added.

The direct requirements per unit shown in

table 1 were obtained by multiplying thedirect requirements per dollar of outputtimes the estimated unit costs on line D oftable 1. The unit cost estimates for construc-tion were derived from Bureau of the Censusand FHA data. (It should be noted that thereis some evidence that the 1963 unit cost ofhigh-rise apartments may have been some-what higher than that shown in table 1, whichis based on the differential between walk-upand high-rise apartments insured by FHA.)The mobile home price was based on unitprice data from the 1963 Census of Manu-factures (adjusted to exclude furniture andappliances and to include transportation andtrade margins).

The total requirements per dwelling unitshown in table 2 were obtained by taking thedirect requirements per dwelling unit as a finaldemand and multiplying them by the coeffi-

cients in the total requirements table at the367-industry level. (This rather involved com-putation is necessary because the total require-ments table for the 367-industries—the mostdetailed available—does not contain separatecolumns for each type of construction whichwould permit the values to be obtained moredirectly.)

The distribution of an industry's sales asshown in table 3 is obtained in two stages.First, the total requirements placed on eachindustry as a result of producing a dwellingunit were computed as described above.Second, the direct requirements by eachindustry for plastics materials (or railroadtransportation) were obtained by multiplyingthe total requirements times the directrequirements per dollar of its output by theindustry for plastics materials (or railroadtransportation).

Revised Estimates of Retail and Business InventoriesEEVISED monthly estimates of retailinventories and of combined manu-facturing and trade inventories startingin 1961 are shown in the accompanyingtables. Also shown are revised inventory-sales ratios.

These tables reflect revisions inretail inventories and manufacturers'sales, both unadjusted and adjusted forseasonal variations, and in manufac-turers' inventories adjusted for seasonalvariations. The data for retail sales andfor merchant wholesalers' sales andinventories have not been revised.

The report M3-1.2 Manufacturers1

Shipments, Inventories, and Orders:1961-70, available from the U.S. Gov-ernment Printing Office, Washington,D.C. 20402 ($1.00 per copy), containscomplete information on the revision ofthese series.

Eetail inventories are estimated onan establishment basis each month bythe Office of Business Economics, onthe basis of sample data reported to theCensus Bureau. The current revisionsreflect adjustment of 1968 and 1969figures to yearend benchmark dataprovided by the Census Bureau's An-nual Retail Trade Reports for thoseyears, as well as some adjustments for1961-67 in the allocation of inventoriesamong lines of trade within the non-durable goods group. Also, the seasonalfactors for all lines of trade have beenrecalculated.

The revised estimate of total retailinventories at the end of 1969 is 2%percent lower than that previously

published, lowering the stock-salesratio'for December 1969 from 1.56 to1.52. The revised inventory data wereincorporated in the national incomeand product accounts in the regularannual revisions, published in the July1970 SURVEY.

The 1968 and 1969 Annual RetailTrade Reports gave the first directmeasures of inventories based on thenew procedures introduced by theCensus Bureau in 1968, and thus madepossible an evaluation of the assump-tions underlying the previous OBEestimates of inventories on the newbasis for the period 1961-67 (SURVEY,November 1968, page 21). Examinationof the Annual Eeport data and relatedinformation from the Internal EevenueService's Statistics of Income indicatedthat the estimates for durable goodslines of trade in the 1961-67 periodneeded virtually no adjustment, andthey have not been revised. However,sizable adjustments have been made inthe 1961-67 estimates for some lines oftrade within the nondurable goodsgroup.

The principal procedural change in-troduced by the Census Bureau in 1968concerned the treatment of "nonstores"(mail-order houses, vending machineoperators, door-to-door salesmen, etc.).Nonstore retailers are now treated aspart of the general merchandise group,whereas formerly they were includedin the various lines of trade accordingto the type of merchandise sold. Salesdata on the new basis cover the period

beginning January 1968, and the Cen-sus Bureau constructed sales estimateson that basis back through August1967. In order to provide consistenthistorical data by line of trade, OBEused techniques similar to those usedby Census for late 1967 to construct.sales estimates back through 1961(SURVEY, November 1968, page 21 andMay 1969, page 51). OBE's previouslypublished estimates of inventories byline of trade on the new basis, also backthrough 1961, rested on the assumptionthat the procedural change had animpact on inventories commensuratewith the then-measurable impact onsales. It is this assumption which hasbeen reviewed in the light of furtherinformation.

Because of the procedural change in1968, the line of trade data in the 1967and 1968 Annual Retail Trade Reportsare not comparable. Therefore, heavyreliance was placed on comparable1967 and 1968 company data fromStatistics of Income in calculating theyearend 1967 inventory levels on anestablishment basis. Yearend levels forearlier years are based on the relativemovements shown in the Annual RetailTrade Reports, with monthly interpo-lations based on data from the CensusBureau's monthly retail trade sample.Additional information on retail in-ventories, the sample design, and thereliability of the data can be found inthe Census Bureau's 1968 and 1969Annual Retail Trade Reports (BE-13-68andBE-69-13).



Manufacturing and Trade and Retail Inventories


Unadj listed

1961January. . _February..MarchAprilMayJuneJulyAugustSeptember.October. ..November.December.

1962January. ..February. .MarchAprilMayJuneJulyAugustSeptember.OctoberNovember.December.

1963JanuaryFebruary. .MarchAprilMay-JuneJulyAugustSeptember.October. ._November.December.

1964January. ..February..MarchApril .May. . .-JuneJulyAugustSeptember.October. ..November.December.

1965January...February..MarchApril . . .MayJuneJulyAugustSeptember.October. ..November.December.

1966January. . .February. .MarchAprilMayJuneJulyAugustSeptemberOctober. ..NovemberDecember.

Manu-fac-

turingand

trade

93, 55194, 24794,46594, 51694, 38593, 76793, 30693, 51294, 05595, 29196, 50894, 627

95,46496, 88798, 28398, 47998, 99798, 90898, 58098, 77199,642

101, 228101, 97199, 928

100,423101, 598102, 664102, 846103, 095102, 961102, 548102, 634103, 400105, 323106, 536104, 328

105, 240106, 428107, 682108, 343108, 490108, 276107, 595107, 440108, 673110,076111, 701110, 250

111, 625112, 928115, 149115, 977116,451116, 508116, 539116, 826117, 325119, 237120, 963119, 554

120, 911123,208125,395126, 775128, 148128,964129, 219129, 816130, 922134, 048136, 598135, 450

Re-tail

trade,total

25, 70026, 10626, 41126, 55626, 39725, 91025, 74625, 37325, 90026, 59827, 36625, 414

25, 38726, 23127, 15627, 34027, 33626, 99926, 98126, 83227, 28528, 37128, 94727, 071

27, 05427,84728, 74128, 86228, 72028, 37828,35028, 02428,40029, 69630, 60628,500

28, 76129, 60230, 58531, 06230, 91030,85430, 67330, 15830, 79931, 07131, 86030, 181

30, 52931, 38633,04833, 56133, 49833, 35433, 24633, 09832, 92634, 15135, 26033,435

33,66134,83736.06036, 60037, 00037, 01536,79035, 97436,36437, 97639, 09337,031

Dura-ble

goodsstores,total

11, 68111, 71811,64411,61111, 63411,48611, 36210, 50410, 45110, 65910, 98610, 759

10, 98511, 28011,49911, 66311,68311, 53611, 56911,04210, 87211, 35211, 66711, 460

11, 60712, 02712, 26512, 22912, 17712, 13212, 11311,41911, 22611, 77112, 31912, 199

12, 59113, 05313, 56213, 77013, 77613, 80813, 62112, 70112, 74712, 30312, 70812, 918

13, 50514, 02714, 83915, 15715, 30015, 23015, 17114, 59313, 92014, 34114, 88614, 811

15,33015,94316,44416, 71417, 25317,32517, 09215, 73515, 50016, 29416, 96716, 771

Auto-mo-tive

group

5,0445, 0534,8434,7754,8484,7524,6693,8243,7633,8414,1184,375

4,6544,8954,9344,9975,0034,8454,8894,2444,0264,3914,5924,883

5,1265,4885,5625,5095,4575,3725,3724,5224,3534,7705,1565,482

5,8396,1926,4376,4796,4046,4326,2945,3375,3464,8825,1935,651

6,1286,5057,0407,2037,3837,3427,3256,6215,9326,3266,7507,162

7,4987,8938,0538,1368,4608,4528,0906,6536,3916,9997,5747,888

Fur-nitureand

appli-ance

group

1,8221,8241,8671,8681,8821,8471,8161,8331,8451,8871,8811,761

1,7461,7721,8271,8801,8631,8441,8461,8631,9161,9612,0131,889

1,8601,8651,9211,9441,9311,9491,9482,0092,0372,1152,1582,026

1,9982, 0242,1032,1452,1642,1482,1602,1512,2122,2552,2952,165

2,1702,2182,3002,3742,3532,3542,3172,3792,4142,4142,5022,323

2,3482,3682,4552,5882,6702,6942,7292,7562,8402,9232,9632,731

Lum-ber,

build-ingma-

terials,hard-ware

group

2,4102,4462,4992,5272,5002,4742,4692,3872,3552,3422,3492,300

2,2972,3312,4472,4882,4812,4692,4482,4252,4022,3862,3522,279

2,2882,3422,4322,4572,4512,4162, 3822,3802,3722,3512,3672,321

2,3182,3562,4712,5182,5402,5562,5192,5252,5272,5162,5372,520

2,5562,5762,6812,6592,6562,6322, 5842,5532,5582,5522,5472,443

2,4862,5362,6292,6512,6902,6722,6092,6092,5772,6202,6312,545

Non-dura-ble

goodsstores,total

14, 01914, 38814, 76714, 94514, 76314, 42414, 38414, 86915, 44915, 93916, 38014, 655

14, 40214, 95115, 65715, 67715, 65315, 46315,41215, 79016, 41317, 01917, 28015, 611

15,44715, 82016, 47616,63316,54316, 24616, 23716, 60517, 17417, 92518, 28716,301

16, 17016, 54917, 02317, 29217, 13417, 04617, 05217,45718, 05218, 76819, 15217, 263

17, 02417, 35918, 20918, 40418, 19818, 12418, 07518, 50519, 00619, 81020, 37418, 624

18,33118, 89419,61619, 88619, 74719,69019, 69820, 23920, 86421,68222, 12620, 260

Ap-parelgroup

2,8802,9753,0803,1003,0192,8642,8253,0553,2413,3353,3452,883

2,7942,9613,1283,1463,1153,0603,0193,2333,4083,5343,5493,153

3,0073,1363,3013,2793,2383,0963,0893,2943,4963,6253,6523,120

3,0943,2403,3283,3683,2863,2203,2033,4293,5913,6913,7293,219

3,1223,2673,5683,5873,5323,4693,4863,7703,9794,0574,1173,575

3,4463,6503,8323,8413,7993,7003,7273,9694,1604,2764,3453,829

Foodgroup

2,9142,9733,0363,0363,0323,0273,0153,0443,0923,1893,2803,116

3,0523,1353,2063,1843,2193,1943,1493,1563,2653,3313,3683,268

3,2253,2813,3573,4443,4543,5293,4243,3673,4123,5393,5783,432

3,4293,5133,5653,5573,5383,5283,4833,4923,5753,6693,6843,632

3,5873,5853,6273,6673,6113,6103,5703,5453,5293,6923,7783,864

3,7643,7563,8463,8963,8803,9303,9303,9614,0524,1614,1194,069

Gen-eralmer-chan-dise

groupwithnon-stores

4,2514,4554,6674,7444,6944,5374,5754,7825,0915,3505,4974,521

4,4684,7175,0305,0745,0744,9895,0555,2585,5425,9315,9824,979

4,9665,2395,5115,5845,5535,3645,3785,6005,9426,3706,5235,288

5,2365,3585,6135,8025,7725,7515,8986,0286,3716,8297,0355,840

5,7936,0186,3926,4516,3726,3596,3956,5806,8907,3577,5376,373

6,5196,6877,0987,2347,1467,1127,1467,3927,7778,3258,4917,179

De-part-mentstores

2,7812,8472,9853,0633,0693,0193,1013,2193,4323,7503,8893,174

3,0823,2063,4353,4833,4413,4053,4313,5523,7334,0674,2243,519

3,5083,6313,8924,0093,9733,9453,9924,1404,4054,7574,9234,097

Seasonally adjusted

Manu-fac-

turingand

trade

94, 33394, 16493, 69093, 69393, 78893, 67693, 85794, 29794, 74294, 85195, 48895, 648

96, 21396, 80697, 47497, 59798, 33698, 84799, 20499, 667

100, 393100, 844100, 921101, 090

101,215101, 519101, 773101, 870102, 274102, 749103, 171103, 648104, 225104, 942105, 398105,477

105, 949106, 303106, 715107, 268107, 638108, 071108, 237108, 648109, 754109, 719110, 518111,457

112, 329112, 828114, 109114, 756115,432116, 222117,207118, 268118, 591119, 089119,845120, 900

121,645123, 053124, 287125, 373126, 921128, 652129, 838131,345132, 386133, 990135,428136,988

Re-tail

trade,total

26, 59126, 34625, 95725, 95125, 96325, 91525, 95225, 78626, 24626, 12326, 37726, 221

26, 27426, 49626, 68526, 70926, 88726, 98627, 17527, 33427, 69227, 92527, 89627, 941

27, 99828, 12328, 20828, 18428, 22928, 29928, 52228, 62528, 88029, 28229, 52229, 386

29, 70529, 86529, 98630, 28030, 32630, 66930, 79230, 91831, 50230, 65330, 71531, 094

31, 49431, 68732, 40532, 70132, 82033, 09633, 33534, 09333, 75233, 85634, 10334, 405

34, 63835, 12035,37535, 64636, 22736, 71036, 88537, 03537, 27237? 65037, 78238, 073

Dura-ble

goodsstores,total

11,84111, 57411, 25811, 16211, 19111, 17411,17110, 82311, 16210, 97211, 07211, 062

11, 13611, 13411, 09711, 19011,22111, 20011, 34811, 44911, 63711, 76111, 77811, 798

11, 75011,84511, 79711, 70111, 65811, 74111,86111, 91412, 05712, 25912,48312, 572

12, 71412, 83213, 00713, 13913, 14413, 31913, 31213, 35613, 79012, 83112, 88613, 318

13, 62113, 79514, 21814, 43414, 54414, 65814, 81415, 48715, 11515, 06715, 15615, 253

15,38315, 62415, 74015, 88016,37116, 67016, 71716, 70216, 80517, 10117, 23717,258

Auto-mo-tive

group

4,9554,7224,4434,3734,4524,4704,4554,1934,5454,3114,4474,487

4,5634,5664,5224,5804,5984,5494,6564,7104,8564,9454,9385,013

5,0215,1195,0895,0455,0115,0355,1165,0815,2455,3845,5265,623

5,7135,7875,8845,9225,8646,0115,9896,0586,4415,5165,5545,784

5,9906,0916,4356,5786,7426,8496,9767,5767,1647,1487,1967,316

7,3087,4047,3817,4237,7057,8777,7197,6827,7197,9008,0328,041

Fur-nitureand

appli-ance

group

1,8961,8841,8781,8621,8711,8541,8341,8331,8161,8201,7881,802

1,8191,8321,8381,8711,8501,8501,8651,8631,8861,8931,9171,935

1,9371,9311,9331,9301,9161,9511,9642,0112,0052,0432,0592,080

2,0792,0952,1182,1282,1452,1462,1752,1552,1772,1832,1922,227

2,2562,2942,3192,3502,3322,3472,3292,3862,3782,3412,3922,392

2,4412,4462,4772,5602,6462,6832,7402,7642,8042,8412,8332,813

Lum-ber,

build-ingma-

terials,hard-waregroup

2,4822,4762,4452,4442,4202,4182,4522,3922,3742,3752,3922,381

2,3682,3642,3942,4062,4042,4132,4312,4302,4212,4172,3882,359

2,3592,3782,3772,3812,3772,3622,3702,3852,3892,3802,3982,403

2,3852,3922,4182,4452,4642,5012,5112,5332,5472,5442,5602,609

2,6222,6152,6232,5822,5762,5802,5792,5682,5842,5802,5652,529

2,5342,5672,5722,5712,6142,6272,6122,6332,6082,6522,6442,635

Non-dura-ble

goodsstores,total

14, 75014, 77214, 69914, 78914, 77214, 74114, 78114, 96315,08415, 15115, 30515, 159

15, 13815, 36215, 58815, 51915, 66615, 78615, 82715, 88516, 05516,16416, 11816, 143

16, 24816, 27816,41116, 48316, 57116, 55816, 66116, 71116, 82317, 02317, 03916, 814

16, 99117, 03316, 97917, 14117, 18217, 35017, 48017, 56217, 71217, 82217, 82917, 776

17, 87317, 89218, 18718, 26718, 27618,43818, 52118, 60618, 63718, 78918, 94719, 152

19, 25519, 49619,63519, 76619, 85620,04020, 16820, 33320, 46720, 54920, 54520, 815

Ap-parelgroup

3,1303,0863,0563,0663,0533,0273,0053,0283,0233,0433,0443,044

3,0373,0753,1093,1183,1503,2243,2013,1983,1883,2273,2263,326

3,2763,2603,2813,2563,2773,2563,2623,2523,2803,3143,3203,288

3,3743,3683,3113,3513,3293,3753,3723,3783,3723,3833,3933,385

3,4083,3963,5573,5733,5823,6293,6543,7073,7403,7293,7533,751

3,7583,7943,8283,8303,8573,8663,8943,8953,9133,9453,9684,009

Foodgroup

2,9893,0063,0063,0093,0053,0273,0493,1003,1203,1233,1883,132

3,1243,1673,1773,1523,1933,1943,1873,2173,2953,2623,2733,281

3,2913,3113,3273,4103,4333,5293,4733,4363,4403,4663,4813,435

3,4853,5453,5403,5223,5273,5323,5323,5673, 607 '3,5903,5843,628

3,6313,6183,6053,6343,6073,6173,6243,6213,5613,6133,6753,856

3,7983,7903,8313,8693,8843,9423,9904,0424,0894,0713,9994,057


groupwithnon-stores

4,6894,6994,6964,7254,7404,7114,7264,7664,8214,8164,8404,917

4,9214,9785,0605,0565,1205.1735,216•5, 2475,2665,3445,2775,395

5,4575,5265,5475,5675,6065,5465,5455,6045,6645,7395,7625,709

5,7345,6555,6565,7845,8335,9376,0726,0406,0936,1576,2226,276

6,3176,3486,4446,4356,4506,5526,5776,6036,6056,6426,6796,827

7,0837,0587,1707,2207,2377,3237,3407,4147,4657,5237,5387,673

De-part-ment

stores

3,0803,0453,0093,0453,1003,1553,2273,2453,2753,3303,3673,391

3,4023,4253,4663,4733,4863,5473,5593,5813,5723,6183,6673,748

3,8633,8753,9354.0014,0294,1014,1284,1654,2234,2444,2884,359



Manufacturing and Trade and Retail Inventories—Continued

Unadjusted

1967January.. -February..March ...AprilMay .JuneJulyAugustSeptemberOctober...NovemberDeeember.

1968January ...February __MarchAprilMay .June... . .JulyAugustSeptemberOctoberNovember.December.

1969January. . .February..MarchAprilMay.. .JuneJulyAugustSeptemberOctober...November.December.

Manu-fac-

turingand

trade

137, 206138, 636140,117141,025140, 974139, 971139, 227139, 280139, 735141,360143, 428142,057

143, 106144, 626146, 093147, 745148, 714148,319147, 595147, 784148, 439151,469153, 157151,327

152, 488154, 648156, 869158,474159,201158, 981158, 860158, 898160, 454163, 229165, 057163,375

Re-tail

trade,total

37, 14937, 75138, 66039,06138, 73738, 21037, 90837, 24737, 91038, 84040, 19637, 982

38,32039, 15140, 18440, 91341, 13940, 65940, 44539, 53139, 92842,06443, 10940, 601

40, 78641, 77042, 86843, 34643,04542, 97242, 82942, 14143,37044, 88246, 01443,535

Dura-ble

goodsstores,total

17, 27517,45417, 70817, 74217, 66917,31817, 06215, 87316, 02016, 26616, 72416, 832

17,45717, 94618, 29218, 84419, 09718, 95718, 64217, 24716,91817, 88418, 46818,412

19, 13919,43819, 87420, 09619,68519, 70719, 36718,09818, 56919,07519, 59819, 527

Auto-mo-tive

group

8,1378,2568,2558,1688,0597,8057,5146,1656,2866,4196,7237,284

7,8368,1838,3878,7649,0258,9358,7337,2787,0517,8108,3418, 653

9,2629,4349,6189,7689,4599,5399,2177,8438,3388,7139,1149,424

Fur-nitureand

appli-ance

group

2,7422,7492,7882,8492,8622,8552,8212,8362,8852,9283,0262,825

2,8082,8862,9433,0213,0223,0073,0123,0053,0293,1073,1212,989

2,9772,9773,0743,0983,0493,0133,0553,0883,1083,1973,2983,122

Lum-ber,

build-ingma-


2,5962,5642,6362,6862,7062,6582,6202,6112,6402,6502,6692,575

2,6262,6312,6942,7502,7212,6762,6982,6472,6562,6592,6292,621

2,6592,7352,8042,8392,8042,7682,6912,6652,6392,6162,6062,546

Non-dura-ble

goodsstores,total

19, 87420, 29720, 95221,31921,06820, 89220, 84621, 37421,89022, 57423, 47221, 150

20, 86321,20521, 89222, 06922,04221, 70221, 80322,28423, 01024, 18024, 64122, 189

21, 64722, 33222, 99423, 25023,36023, 26523,46224,04324, 80125, 80726,41624,008

Ap-parelgroup

3,7183,9514,0384,0504,0133,8893,8894,1564,2934,3664,4923,917

3,7423,9274,0804,1124,0313,9484,0354,2424,4914,6264,6384,050

3,9344,2034,3894,4174,4004,3364,3854,6854,8164,8604,9754,426

Foodgroup

4,0454,0254,0944,0864,0784,1154,0744,0704,1284,1934,4434,256

4,2064,2214,2654,2924,2994,2574,2074,2224,2834,4454,5384,393

4,4194,3884,4624,4584,5074,5074,5024,4974,5504,6644,7624,691


groupwithnon-stores

7,0797,2557,6047,8797,6857,5617,6237,8848,2868,7249,0457,530

7,5397,7878,1468,3018,3158,2298,3718,5538,9049,6659,9018,314

8,0198,4558,8039,0199,1409,0579,2089,4349,908

10, 62710, 8349,186

De-part-mentstores

3,9854,1084,3594,5764,4154,3404,4004,5804,8505,1265,3574,417

4,3514,5384,8014,8594,8634,7564,8674,9825, 1235,6575,8294,886

4,6964,9535,1665,2955,3255,2405,3705,5185,8036,2696,4355,348

Seasonally adjusted

Manu-fac-

turingand

trade

137, 999138,483138, 954139,504139, 549139, 593140, 022140, 818140, 885141, 086142, 058143, 334

143, 875144, 563144, 957146, 160147, 258147, 896148, 375149, 356150, 036151, 356151,829152, 699

153, 227154, 536155, 671156, 698157, 584158, 553159, 634160, 734161, 841163, 331163, 763164,917

Re-tail

trade,total

38, 17038,06338,00538, 11238,00037, 97338, 19538,37738, 45038, 24538,66338, 952

39,31039, 54039, 58139, 95440, 35840, 32440, 58340, 72040, 83241, 55541,47241,604

41, 75942, 13142, 22042,31842, 26142, 74942, 99943, 53543, 89744, 41144, 26844, 623

Dura-ble

goodsstores,total

17, 29617, 10717,01116, 88816,80416, 70816, 87316,90416, 99516, 87016, 89817, 277

17, 42417,61117, 60717, 93518, 16418, 20218, 28918, 34818,30318, 69918, 66318, 851

19, 02319,01319,11119, 09918, 72719,01619, 01519, 39919, 63320, 04419, 83519,980

Auto-mo-tive

group

7,9007,7527,6017,4597,3207,2747,3287,2517,3647,1107,0927,395

7,5717,6917,7518,0118,2058,2438,3738,4528,4668,7658,7628,776

8,9238,8588,9068,9378,6078,9078,8549,1849,4759,7689,5639,558

Fur-nitureand

appli-ance

group

2,8472,8342,8162,8182,8392,8412,8292,8452,8542,8482,8872,903

2,9102,9752,9762,9883,0012,9953,0213,0113,0053,0252,9753,066

3,0853,0663,1083,0643,0313,0013,0643,0943,0863,1163,1443,199

Lum-ber,

build-ingma-


2,6362, 5852,5772,6002,6352,6212,6252,6432,6572,6852,6772,663

2,6532,6472,6332,6572,6552,6472,7092,6822,6962,6942,6342,705

2,6832,7492,7412,7382,7382,7432,7022,7032,6542,6562,6112,627

Non-dura-ble

goodsstores,total

20, 87420, 95620, 99421, 22421, 19621, 26521, 32221,47321,45521,37521, 76521, 675

21, 88621,92921, 97422, 01922, 19422, 12222, 29422, 37222, 52922,85622, 80922, 753

22, 73623, 11823, 10923, 21923, 53423, 73323, 98424, 13624, 26424, 36724,43324, 643

Ap-parelgroup

4, 0504,1074,0384,0464,0744,0594,0514,0794,0424,0314,1064,084

4,0594,0864,0884,1164,0974,1214,1944,1594,2334,2794,2474,214

4,2624,3744,4024,4264,4724,5264,5534,5934,5434,4964,5604,606

Foodgroup

4,0744,0624,0784,066

,086,132,140,149,165

4,0994,3014,239

4,2274,2644,2564,2834,3084,2784,2754,3044,3224,3454,3854,375

4,4414,4324,4534,4544,5164,5304,5754,5844,5914,5644,5974,672


groupwithnon-stores

7,6837,6657,6937,8717,7817,7797,8187,9127,9547,8798,0418,022

8,1648,2408,2568,3048,4198,4718,5778,5788,5448,7278,8128,849

8,6838,9518,9359,0269,2499,3239,4299.4669,5079,5949,6459,777

De-part-mentstores

4,3844,3804,4124,5714,4784,5024,5364,6084,6504,5814,6794,689

4,7764,8384,8644,8594,9324,9345,0125,0074,9125,0605,1005,187

5,1555,2805,2395,2955,3955,4365,5255,5465,5645,6075,6355,677

Manufacturing and Trade and Retail Stocks/Sales Ratios

1961JanuaryFebruaryMarchAprilMayJuneJulyAugustSetemberOctoberNovember. .December

1962JanuaryFebruaryMarchAprilMay. .June .JulyAugust . . .SeptemberOctoberNovemberDecember

1963JanuaryFebruaryMarchAprilMayJuneJuly. .August. .SeptemberOctoberNovemberDecember

Manu-facturing

andtrade

1.611.601 571.581 561 531 551 521.521 501.501 49

1 501.511 501 501.511.531 531.521 521 521 501.53

1 521 501 501 491 501 491.471.501.501 491.511.48

Total

1 481.471 441.461 441 431.431 411.431 401.401 39

1 381.391 381 371 371.401 381.381 401 391 381.38

1 381 401.391 381 391 391.381.391.401 401 431.39

Retail

Durable

2 152.132 052.092 042 002 011 911 971 881 871 87

1 871 861 811 821 801.831 811 821 891 801 801.84

1 791 831 811 761 781 781 771.811.821 741 861.84

Non-durable

1 191.191 171.191 181 171 171 181 191 181.191 17

1 161 181 181 171 181.201 181.181 181 191 181.17

1 181 191 191 201 211 201 191.191.211 231 221 17

1964JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember



Manu-facturing

andtrade

1 471.481 491.481 471 481.461 471.461 491.481 45

1 451.461 451 451 461.461 451.461 481 461 441.44

1 431 441 431 451 471 471 501.491.491 511 541 55

Total

1 411.411 411.411 391 411.411 391.411 421.411 37

1.371.371 421 421.401.421 411.441 421 391 381.39

1 391 411 391 421 471 461 461.451.451 471 481.50

Retail

Durable

1 861.851 891.881 831 891 891 841 831 971 921 76

1 771.781 871 891 891.911 911 981 951 891 841.82

1 881 911 831 962 132 072 082 002.022 082 092 09

Non-durable

1 201.201 181.181 181 181 181 171 191 191.191 17

1.181.171 191 191.161.181 171.171 161 151 151.17

1 151 161 171 161 171 171 171.181.181 191 191 22

1967JanuaryFebruary .MarchAprilMayJuneJulyAugustSeptember,-OctoberNovemberDecember

1968JanuaryFebruaryMarchAprilMayJune -.- --JulyAugust . ..SeptemberOctoberNovemberDecember ._

1969JanuaryFebruaryMarchAprilMayJuneJulyAugust . . .September . .. .OctoberNovemberDecember

Manu-facturing

andtrade

1.571.591.581.591.591.571.581.571.561.591.571.55

1.541.541.531.54.53.52.51.54.52.52.52.54

.53

.52

.53

.53

.52

.52

.54

.53

.531.531.551.57

Total

1.481.491.481.471.461.431.451.461.431.46.46.47

.46

.44

.42

.44

.43

.43

.42

.421.441.451.441.46

1.441.441.461.441.441.461.481.481.501.501.501.52

Retail

Durable

2.082.152.092.052.021.952.002.011.912.052.032.03

2.031.991.952.001.991.981.961.962.012.002.002.01

2.011.982.041.991.981.992.082.122.092.142.152.15

Non-durable

1.191.201.191.201.201.191.191.201.191.191.201.20

1.191.181.161.171.171.161.151.161.171.181.171.19

1.171.181.181.171.181.201.201.201.221.201.211.22

LJ.S. GOVERNMENT PRINTING OFFICE: 1970 O—404-263


CURRENT BUSINESS STATISTICS

J.HE STATISTICS here update series published in the 1969 edition of BUSINESS STATISTICS, biennial statistical supplement to the SURVEYOF CURRENT BUSINESS. That volume (price $3.00) provides a description of each series, references to sources of earlier figures, and historical dataas follows: For all series, monthly or quarterly, 1965 through 1968 (1958-68 for major quarterly series), annually, 1939-68; for selected series,monthly or quarterly, 1947-68 (where available). Series added or significantly revised after the 1969 BUSINESS STATISTICS went to press are indicatedby an asterisk (*) and a dagger (f), respectively; certain revisions for 1968 issued too late for inclusion in the 1969 volume appear in the monthlySURVEY beginning with the September 1969 issue. Also, unless otherwise noted, revised monthly data for periods not shown herein correspondingto revised annual data are available upon request.

The sources of the data are given in the 1969 edition of BUSINESS STATISTICS; they appear in the main descriptive note for each series, andare also listed alphabetically on pages 189-90. Statistics originating in Government agencies are not copyrighted and may be reprinted freely.Data from private sources are provided through the courtesy of the compilers, and are subject to their copyrights.

Unless otherwise stated in footnotes below, datathrough 1968 and descriptive notes are as shown inthe 1969 edition of BUSINESS STATISTICS

1967 1968 | 1969

Annual total

1967

III IV

1968

I II | III IV

1969

I II III IV

1970

I | II Hip

Seasonally adjusted quarterly totals at annual rates

GENERAL BUSINESS INDICATORS—Quarterly Series

NATIONAL INCOME AND PRODUCT

Gross national product, total f bil. $._

Personal consumption expenditures, total do

Durable goods total 9 doAutomobiles and parts _ _ _ doFurniture and household equipment _ _ do

Nondurable goods, total? doClothing and shoes - - doFood and beverages doGasoline and oil do

Services total 9 _. _ _ doHousehold operation doHousing _ . _ doTransportation do

Gross private domestic investment, total do

Fixed investment doNonresident ial do

Structures - - doProducers' durable equipment do

Residential structures doNonfarm do

Change in business inventories . doNonfarm do

Net exports of goods and services doExports . _ _ _ _ . d o _Imports do

Govt. purchases of goods and services, total. .doFederal - do

National defense doState and local do

By major type of product: fFinal sales, total. do

Goods, total doDurable goods doNondurable goods do

Services doStructures do

Change in business inventories doDurable goods. doNondurable goods .. - do

GNP in constant (1958) dollars

Gross national product, totalf bil $

Personal consumption expenditures, total do

Durable goods _ _ . . . doNondurable goods _ _ _ do_Services do

Gross private domestic investment, total do.

Fixed investment doNonresidential do.._Residential structures... do

Change in business inventories .do

Net exports of goods and services do

Govt. purchases of goods and services, total, .doFederal . . d oState and local.. . .do

793.9

492.1

73.130.531.4

215.042.3

108.517.6

204.029.171.814.5

116.6

108.483.328.055.325.124.58.27.5

5.246.241.0

180.190.772.489.4

785.7390. 7156.5234.2316.578.6

8.24.73.5

675.2

430.1

72.9190.2167.0

101.2

93.573.220.47.7

3.6

140.274.765.5

865.0

535.8

84.037.234.6

230.246.1

115. 119.0

221.631.277.415.6

126.5

118.988.729.659.130.329.77.67.5

2.550.648.1

200.299.578.0

100.7

857.4422.9170.4252.5347.187.4

7.65.72.0

707.2

452.3

81.4196. 5174.4

105.7

98.875.523.36.9

.9

148.378.769.6

931.4

577.5

90.040.336.7

245.849. 9

121.721.1

241.633.984.016.7

139.8

131.499.333.865.532.031.58.58.0

1.955.553.6

212 2101.' 378.8

110.8

922.9451.6183. 9267.7377.693.8

8.56.42.1

727.1

467.7

84.9201.2181.6

111.3

104.180.823.37.2

.2

147.875.772.1

800.9

495.5

73.731.231.3

215.542.7

108.417.7

206. 329.272.314.6

118.6

109.983.327.955.426.626.08.77.8

5.646.340.7

181.391.473.089.9

7!)2. 2393. 1157.6235. 5319. 7

79.4

8.75.63.1

678.9

431.6

73.3190.0168.3

102.4

94.272.921.38.3

4.2

140.775.465.3

815.9

502.5

75.331.132.5

217.142.5

109. 518. 1

210.130.173.714.6

123.0

113.084.128.056.228.828.310.08.5

4.046.842.8

186.593. 674.792.9

805.9395.0158.5236.5328.482.5

10.06.13.9

683.6

434.3

74.0190.3169.9

105.1

95.972.923.09.2

2.1

142.275.566.7

834.9

519.7

79.934.933.7

225.644.8

112.718.8

214.230.475.215.2

119.8

117.288.329.858.528.828.32.62.5

1.847.745.9

193.696. 476.397.2

832.3411.6165.2246.4334.786.0

2.62.5. 1

693.5

445.0

78.1195. 5171.3

101.3

98.976.122.92.4

.8

146.477.568.9

858.1

529.1

82.636.034.1

227.645.2

114.718.6

218.930.876.615.3

127.3

117.086.428.957.530.630.110.410.3

3.450.747.3

198.398. 977.899.4

847.8417.8168.0249.8343.186.8

10.47. 13.2

705.4

448.4

80.2194. 9173.2

107.1

97.673.823.89.5

1.5

148.579.169.4

875.8

543.8

86.739.135.4

232.647.1

116. 119.2

224.531.577.915.6

126.5

118.388.329.459.029.929.48.28.1

3.453.249.8

202.1100.778.6

101.4

867.6429. 0173.1255.9352.286.3

8.25.82.4

712.6

457.7

83.9197.9175.9

105.1

97.774.922.87.4

1.5

148.378.969.4

891.4

550.8

86.938.835.2

234.847.2

117.019.3

229.032.179 816.1

132.6

123.391. 630.361.331.731.19.39.3

1.450.949.5

206.7101.979.2

104.7

882.1433.3175.3258.0358.490.5

9.37.22.1

717.5

458.1

83.2197.6177.4

109.5

101.077.123.98.5

-.2

150.079.470.6

907.6

561.8

89.139.835.8

239. 247. 9

119. 120.3

233.532.781.416.2

136.0

128.795.732.663.133.032.47.47.3

1.347.846.5

208.5100. 978.6

107.5

900. 2440.9180.5260.4364.894.5

7.45.61.8

722.1

463.3

84.9199.7178.7

109.7

103.679.324.36.1

-.4

149.578.071.5

923.7

573.3

90.640.037.2

244.050.0

120.820.8

238.733.383.016.5

139.3

131.497.532.365.233.933.37.97.6

1.357.255.9

209. 999.877.9

110.1

915.9448.8182. 7266. 1372.394.8

7.96.71.2

726.1

467.1

85.7200. 9180.5

111.5

104.880.224.76.6

-.3

147.975.872. 1

942.6

582.1

89.540.236.7

248.150.7

122.421.5

244.534.584.716.8

143.8

132. 4101.535.266.331.030.411.310.8

2. 658.355.6

214.1102. 579.8

111.6

931. 2454. 9184.8270. 1383.093. 3

11.37.93.5

730.9

468.7

84.1201. 9182. 7

114.1

104. 281.922.39.9

.8

147.375.272.1

951.7

592.6

90.841.136.9

252.050.9

124.621.7

249.834.887.017.1

140.2

133.0102. 635.167.530.429. 8 '7.26.5

2.658.856.2

216.3102. 178.8

114. 2

944.5461.7187.4274.3390. 392.5

7.25.31.9

729.2

471.7

84.9202. 4184.4

110.0

103.982.121.86.1

.9

146.673.872.9

959.5

603.1

89.137.738.3

258.851.3

128.822.4

255.235.289.017.7

133.2

131.6102. 635.766. 929. 128.41.6.9

3.561.157.6

219.6102.379.3

117.4

957.9465.5185.5280. 0400. 192.3

1.6—.31.9

723.8

474.0

82.7205.6185.8

102.9

101.580.920. 71.3

1.9

145.071. 173.8

971.1

614.4

91.939.438.9

262. 651.8

131.222.7

259.935.990. 817.9

134.3

131.2102.835.367.528.427.83.12.6

4.162.858.7

218.499.776.8

118. 7

968.1471.8188.5283.3405.890. 4

3.1—1.9

5.0

724.9

478.1

84.9206.6186.6

103.1

100.180.220.02.9

2.4

141.367.873.5

985.2

622.4

91.439. 338.3

265. 552.3

132.023.0

265.436.892.618.2

136.8

132. 8103.735.468.429. 128.54.03.5

4.763. 558. 8

221.399. 075. 2

122. 4

981.2

4.0

727.5

480.2

83. 9

102.6

99.5

3.2

2.9

141.767.274. 5

r Revised. p Preliminary. fRevised series.product and personal income have been revised back

404-263 O - 70 - SI

Estimates of national income andto 1967 (see p. 17 ff. of the July 1970

SURVEY) ; revisions prior to May 1969 for personal income appear orSURVEY. 9 Includes data not shown separately.

p. 26 f!. of the July W70


S-2 SURVEY OF CURKENT BUSINESS October 1970


1967 196S 1969

Annual total

1967

IV

1968

I II III IV

1969

I II III IV

1970

I II III* IV

GENERAL BUSINESS INDICATORS—Quarterly Series—Continued

NATIONAL INCOME AND PRODUCT— Con.Quarterly Data Seasonally Adjusted at Annual RatesNational income totalt toil $

Compensation of employees total do

\Vages and salaries total doPrivate doMilitary doGovernment civilian do

Supplements to wages and salaries doProprietors' income total 9 do

Business and professional 9 doFarm do

Rental income of persons do

Corporate profits and inventory valuation adjust-ment total bil $

By broad industry groups:Financial institutions doNonfinancial corporations total do

Manufacturing total doNondurable goods industries doDurable goods industries do

Transportation, communication, and publicutilities bil $

All other industries do

Corporate profits before tax total doCorporate profits tax liability doCorporate profits after tax do

Dividends doUndistributed profits do

Inventory valuation adjustment doNet interest doDISPOSITION OF PERSONAL INCOMEf

Quarterly Data Seasonally Adjusted at Annual RatesPersonal income total bil $Less* Personal tax and nontax payments doEquals: Disposable personal income doLess: Personal outlays® doEquals: Personal saving§ do

NEW PLANT AND EQUIPMENTEXPENDITURES

Unadjusted quarterly or annual totals :tAll industries ... ... bil. $

Manufacturing ._ . doDurable goods industries 1 . . doNondurable goods industries t do

Nonmanufacturing _ . doMining . . . . doRailroad. doAir transportation doOther transportation doPublic utilities do

Electric .. doGas and other do

Communication doCommercial and other do

Seas. adj. qtrly. totals at annual rates:fAll industries . do

Manufacturing . doDurable goods industries f _ doNondurable goods industries 1 do

Nonmanufacturing doMining. . . . doRailroad doAir transportation doOther transportation . doPublic utilities .. do

Electric doGas and other. _ ... .do. . .

Communication .. doCommercial and other do

U.S. BALANCE OF INTERNATIONALPAYMENTSd*

Quarterly Data Are Seasonally Adjusted(Credits +; debits -)

Exports of goods and services (excl. transfers undermilitary grants) mil. $__

Merchandise adjusted excl militarv doTransfers under military sales contracts doIncome on U.S. investments abroad . doOther services . do

Imports of goods and services do

Military expenditures .. . doIncome on foreign investments in the U.S__doOther services do

Unilateral transfers, net (excl. military grants);transfers to foreigners ( ) mil $r Revised. p Preliminary. 1 Estimates (corre

Sept. 1970 and Oct.-Dec. 1970 based on expected capexpenditures for the year 1970 appear on p. 18 of themunication. fSee corresponding note on p. S-adjustment. J Revised series; explanation of reviback to 1947 appear on pp. 25 ff . of the Jan. 1970 SUR\SURVEY. ePersonal outlays comprise personal co

653.6

467.2

423.1337.3

16.269.544.262.147.314.821.1

78.7

10.068.738.718.020.7

10.819.1

79.833.246.621.425.3-1.124.4

629.383.0

546.3506.040.4

65.4728.5114.0614.45

36.961.651.862.291.488.746.752.006.34

14.59

46,20430,6811,2396,87277412

-40, 991-26, 821-4,378-2,362-7,430

-2, 970cted forital expenSept. 197(1. 9 Insions andEY; see ansumptio

712.7

514.1

464.8369.117.977.849.364.149.115.021.3

85.4

11.074.442.419.123.3

11.021.0

88.740.648.223.324.9

-3.327.8

688.797.5

591.2550.840.4

67.7628.3714.1214.25

39.401.631.452.561.59

10.207.662.546.83

15.14

50, 62633,5881,3967,6907,952

-48, 127-32,964-4,535-2, 932-7,696

-2,829systematiditures of) SURVEYeludes inannual <

so pp. 19n expendi

769.5

564.2

509.0404.9

19.085.155.166.850.516.422.0

85.8

12.073.841.819.322.4

10.721.4

91.242.748.524.723.9

-5.430.7

748.9117.3631.6593.937.6

75.5631.6815.9615.72

43.881.861.862.511.68

11.618.942.678.30

16.05

55, 51636, 4731,5148,8398,690

-53,566-35,835-4,850-4,463-8, 418

-2,8353 biases)business

2Incventoryind quaft. of thtures, in

671.6

481.8

436.2346.517.072.745.662.947.715.221.3

80.0

10.269.838.718.120.6

10.720.3

83.334.548.921.027.8

-3.325.6

646.386.3

559.9516.643.3

18.127.773.963.81

10.35.47.50.64.38

2.592.08.51

1.734.04

65.6627.5113.7113.80

38.151.781.822.791.419.467.471.996.37

14.54

11,6947,601

3411,8881,864

-10, 703-7, 154-1,112

-607-1,830

-643for Jul

. Expectludes coivaluati

rterly da3 Feb. 19terest pa

687.2

495.3

447.9356.017.374.747.462.948.514.421.3

81.3

10.670.640.118.621.5

11.119.5

86.739.846.922.324.7

-5.426.4

664.089.1

574.9534.140.8

15.106.153.063.09

8.95.42.39.68.30

2.071.69.38

1.593.50

68.0928.0214.1113.91

40.071.801.682.881.43

10.087.762.326.83

15.37

11,9327,946

3021,7651,919

-11,477-7,820-1,103

-677-1,877

-629

5Tl-3nta70lid

706.1

507.6

458.9364.7

17.676.648.763.849.214.621.3

86.0

10.875.242.818.923.9

11.021.3

88.640.448.323.125.2

-2.627.3

680.992.6

588.4543.844.6

16.856.993.363.63

9.86.43.37.58.42

2.621.94.68

1.623.81

66.2927.8413.5114.33

38.451.661.491.981.49

10.247.642.606.42

15.17

12,6858,386

3441,9901,965

-11,832-8, 132-1,112

-732-1,856

-675by ccof dis

IDMar.the q

aln

722.2

520.9

471.0373.418.679.049.964.449.215.321.3

87.4

11.575.942.919.423.6

11.221.8

88.440.448.023.824.2o28.' 2

697.6102.1595.6559.136.5

16.797.133.543.59

9.66.39.31.64.41

2.611.87.74

1.613.69

67.7728.8614.4714.40

38.911.571.292.691.659.827.502.326.67

15.22

13, 2958,878

3932,0002,024

-12, 444-8,569-1,147

-761-1,967

-757nsumersposableata for irJune, S

uarterlyeludes tl

735.2

532.5

481.4382.518.280.751.165.249.415.821.3

87.1

11.275.943.719.224.4

10.721.5

91.341.749.624.125.5

-4.229.1

712.5106.5606.0566.439.6

19.038.104.163.94

10.93.40.38.66.47

2.902.16.74

2.004.13

69.0528.7014.3914.31

40.351.521.342.871.75

10.637.742.897.34

14.91

12, 7148,378

3571,9352,044

-12, 374-8, 443-1,173

-762-1,996

-768, and perincome oidividuaept., ancreviewsle retroa<

749.3

544.9

491.6391.518.181.953.366.049.916.221.6

87.1

11.575.543.419.424.0

11.021.2

93.043.549.524.125.5

-5.929.7

725.8113.8612.0577.734.3

16.046.583.363.22

9.45.42.38.68.38

2.361.88.48

1.813.41

72.5229.9915.4714.52

42.531.831.682.891.87

11.528.622.907.74

15.00

11, 9487,472

3912,0891,996

-11,618-7, 576-1,198

-905-1,939

-612sonal trsver pers(durableDec. iss

n the Mstive paj

764.0

557.5

502.9401.218.483.454.666.750.516.222.0

87.4

11.975.442.919.923.0

10.821.8

93.443.849.724.425.2

-6.030.4

741.1118.1623.0589.733.3

18.817.823.983.84

10.99.48.44.66.46

2.992.22.77

2.003.97

73.9431.1615.9815.18

42.781.881.762.221.66

11.688.712.977.92

15.67

14, 2919,585

3132,1502,243

-13, 978-9,606-1,187-1,071-2, 114

-812msfer pamal outland nor

>ues of tl:ir., Juner increase

779.5

572.2

516.4409.9

19.986.655.867.550.916.622.1

86.8

12.274.641.819.122.7

10.622.2

89.942.147.925.022.9

-3.231.0

758.1117.5640.6598.742.0

19.258.164.034.12

11.10.47.49.53.40

3.032.23.80

2.114.07

77.8433.0516.5316.52

44.801.892.062.231.65

11.488.982.508.71

16.78

14,5659,581

4582,2862,240

-13,909-9,263-1,220-1,240-2, 186

-690yments tays.idurablele SURVESept., a

, for Fed

785.2

582.1

525.3417.2

19.688.556.867.250.616.622.3

82.0

12.269.839.119.020.0

10.320.4

88.541.447.125.221.9

-6.531.7

770.5119.9650.6609.641.1

21.469.124.594.53

12.34.49.55.64.44

3.232.61.62

2.394.60

77.8432.3915.8816.50

45.461.851.942.801.63

11.809.362.448.76

16.67

14, 7129,835

3522,3142,211

-14,061-9,390-1,245-1,247-2, 179

-721o foreign

goods im,Y. cfJnd Dec.era! pers(

791.5

592.2

534.4422.6a20. 1a91. 757.967.650.617.022.5

76.7

12.064.735.218.316.9

9.120.4

82.638.044.625.219.4

-5.832.4

782.3117.0665.3620.544.8

17.477.143.593.56

10.32.45.42.73.28

2.542.15.39

2.143.76

78.2232.4416.4016.05

45.781.921.742.941.37

12.149.772.379.14

16.52

15,35510,241

2582,4992, 357

-14,504-9,723-1,178-1,348-2, 255

-739ers. §

Lustries (Vfore conissues ofmnel.

797.4

596.4

537.4424.019.593.959.067.851.216.522.6

77.5

12.365.235.518.217.2

8.621.1

82.038.143.925.118.8

-4.533.1

801.3117.7683.6632.151.5

20.338.154.084.07

12.18.47.47.80.31

3.282.59.69

2.594.26

80.2232.4316.3216.11

47.791.841.882.881.12

12.7210.152.57

10.3816.98

pl5 890plO, 714

P432P2,280"2, 464

p-14, 771p-9. 867P- 1,247p- 1,328p-2, 329

p-754Personal

jomponeiaplete dethe SUR^S

603.8

543.4428.9

19.295.460.467.851.716.122.7

25.4

-5.833.8

807.1114.1693.0640.552.5

i 20. 067.763.783.98

12.30.44.46.80.31

3.702.91.79

26.58

i 81. 0531.2115.3815.84

49.841.781.933.481.26

14.3411.822.52

2 27. 05

122.668.994.444.55

13.67.49.52.71.35

4.003.32.68

27.60

i 82. 2432.1515.5316.62

50.091.891.872.891.30

14.6211.922.70

227.53

saving is excess

its appear in thetails are given inrEY.


October 1970 SURVEY OF CURRENT BUSINESS S-3


1967 1968 1969

Annual total

1967

IV

1968

I II III IV

1969

I II III IV

1970

I II III IV

GENERAL BUSINESS INDICATORS—Quarterly Series—ContinuedU.S. BALANCE OF INTERNATIONAL

PAYMENTS §— Con.Quarterly Data Are Seasonally Adjusted

Transactions in U.S. private assets, net; increase(— ) mil $

Transactions in U.S. Oovt. assets, excl. officialreserve assets; increase (— ) mil. $..

Transactions in U.S. official reserve assets, net;increase ( — ) mil $

Transactions in foreign assets in the U.S., net (U.S.liabilities); increase (+) mil. $..

Liquid assets doOther assets do

Balance on transactions in U.S. and foreign liquidand nonliquid assets, incl. reserves mil. $..

Allocations of special drawing rights (SDR) doErrors and omissions, net doBalance on liquidity basis: If

Including allocations of SDR doExcluding allocations of SDR do

Balance on official reserve transactions basis: ©Including allocations of SDR doExcluding allocations of SDR do

Unless otherwise stated in footnotes below, datathrough 1968 and descriptive notes areas shown inthe 1969 edition of BUSINESS STATISTICS

-5,637

-2, 419

52

6,8533,4923,361

-1,154

-1,088

-3, 544-3,544

-3, 418-3, 418

1968

-5,412

-2,268

-880

9,409709

8,700

849

-514

171171

1,6411,641

1969

Annual

-5, 233

-2, 184

-1, 187

12, 3328,1994,133

3,728

-2, 841

-7,012-7,012

2,7002,700

-1,838

-691

-181

2,3891,917

472

-321

-25

-1,736-1,736

-976-976

-684

-723

904

1,008-6601,668

505

-329

-244-244

-61-61

-1,429

-642

-137

2,56231

2,531

354

-528

106106

1,6521,652

-1,585

-528

-571

2,253426

1,827

-431

335

145145

408408

1969

Aug. Sept. Oct. Nov. Dec.

-1,714

-375

-1,076

3,586912

2,674

421

8

164164

-358-358

-1,213

-435

-48

3,1741,4001,774

1,478

-1,196

-1,352-1,352

1,4531,453

-2, 151

-641

-299

4,5134,100

413

1,422

-922

-3,801-3,801

1,3151,315

-980

-650

-686

3,2762,965

311

960

-927

-2, 279-2, 279

-582-582

-889

-458

-154

1,369-2661,635

-132

204

420420

514514

-1,686

-444

264

1,6791,117

562

-187217

-144

-1,381-1,598

-2,886-3,103

p- 1,813

p-390

p 805

p 1,547p398

p 1, 149

P149P217

p-729

p- 1,203p- 1,420

p-1, 761p- 1,978

1970

Jan. Feb. Mar. Apr. May June July Aug. Sept.p

GENERAL BUSINESS INDICATORS—Monthly Series

PERSONAL INCOME, BY SOURCE f

Seasonally adjusted, at annual rates: tTotal personal income bil. $

Wage and salary disbursements, total doCommodity-producing industries, total.do

Manufacturing doDistributive industries do

Service industries doGovernment. ._ _. do

Other labor income do .Proprietors' income:

Business and professional . doFarm do

Rental income of persons... .. doDividends doPersonal interest income doTransfer payments doLess personal contributions for social insurance

bil.$-

Total nonagricultural income do

FARM INCOME AND MARKETINGS t

Cash receipts from farming, including Governmentpayments total J mil $

Farm marketings and CCC loans, total doCrops _ . doLivestock and products, total 9 _ do _

Dairy products doMeat animals . doPoultry and eggs do

Indexes of cash receipts from marketings and CCCloans, unadjusted: t

All commodities 1957-59=100-Crops doLivestock and products do __

Indexes of volume of farm marketings, unadjusted :JAll commodities 1957-59=100-

Crops _ doLivestock and products do

INDUSTRIAL PRODUCTION rf

Federal Reserve Index of Quantity Output

Unadj., total index (incl. utilities) d" -1957-59 = 100-By industry groupings:

Manufacturing, total . doDurable manufactures . . doNondurable manufactures.. . do

Mining doUtilities do

By market groupings:Final products, total do

Consumer goods _ _ _ doAutomotive and home goods . do.. _Apparel and staples do

Equipment, including defense do

Materials doDurable goods materials doNondurable materials do....

688.7

464.8181.5145.9109.2

78.495.724.9

49.115.0

21.323.354.059.0

22.8

668.2

47,680

44, 21818, 73425, 4845,955

15,3633,828

137135138

126129124

165.5

166.9169.8163.3126.6202.5

165.1156.9175.0151.2182.6

165.8157.8174.1

748.9

509.0197.5157.5119.8

87.7104.127.6

50.516.4

22.024.759.765.1

26.0

726.7

51,023

47, 22918, 79028, 4396,172

17, 5214,423

146136154

126129124

P 172. 8

P 173. 9» 176. 5P 170. 6P130.2p 221. 2

P 170. 8P 162. 5p 179. 5p 157. 1P188.6

P 174. 6P165.5P183.9

758.5

516.9200.0159.9121.6

88.6106.727.9

50.916.6

22.124.960.165.5

26.4

736.1

5,011

3,8211,4682,353

5011,449

382

142127152

122122121

174.6

174.3173.6175.0132.3

173.4166.3160.4168.2188.5

175.6166.2185.3

763.1

520.0200.9160.4122.2

89.6107.328.2

51.016.7

22.125.260.565.9

26.5

740.6

5,771

4,5271,9572,570

4971,650

402

168169166

143157133

179.2

180.0181.5178.1132.9

179.2172.6186.9168.0193.4

179.2170.2188.5

766.7

522.7201.8160.9123.1

90.0107.728.3

50.816.7

22.225.261.266.3

26.7

744.1

5,826

5,4792,6142,865

5151,897

433

203226186

179220149

177.8

179.5181.5176.9132.7

176.5169.4192.1162.2191.8

178.9169.7188.4

770.6

525.2201.9160.0124.1

91.0108.128.5

50.516.6

22.325.362.066.9

26.7

747.9

5,106

5,0852,6512,434

4951,498

423

188230158

168227124

173.6

175.0175.4174.5132.9

170.0162.6175.9158.4186.0

176.9166.3187.8

774.3

528.0203.8161.6124.1

91.6108.528.6

50.416.6

22.425.062.667.7

26.9

751.6

4,577

4, 5442,1292,415

5251,422

441

168184156

148187119

169.6

169.6172.6165.9133.1

166.2156.6167.4153.1187.0

172.6161.8183.7

777.8

529.5202.2160.8125.4

93.1108.929.0

50.416.8

22.525.163.068.8

27.3

755.0

4,215

4,1591,6432,516

5371,526

422

154142163

133148122

168.2

167.5169.1165.6130.1

167.1159.0165.1157.1184.3

169.5156.8182.5

781.5

531.1202.0160.0125.7

94.1109.329.3

50.617.0

22.525,263.469.7

27.3

758.4

3,340

3,3161,0012,315

5041,429

351

12387

150

9880

111

171.5

171.3na7172.0134.1

170.5163.0171.5160.3186.5

172.5158.4186.9

787.6

535.0203.9161.3126.7

94.6109.829.6

50.717.2

22.625.263.771.1

27.5

764.3

3,513

3,501919

2,582547

1,635372

13080

167

10068

125

172.1

172.2173.5170.6134.0

169.9161.8176.3157.2187.3

174.0161.3187.1

806.0

539.9202.3160.0126.0

95.1116.529.8

51.016.9

22.625.264.284.1

27.7

783.0

3,443

3,381861

2,520558

1,598327

12575

163

9859

127

170.6

171.0170.5171.7135.0

166.9160.6175.5155.9180.3

174.3160.4188.5

799.7

540.5200.9159.2127.2

95.5116.930.0

51.316.5

22.625.364.576.6

27.7

777.0

3,286

3,269869

2,400585

1,455323

12175

156

9759

126

169.1

168.9169 4168.4137.9

165.8160.3176.0155.3177.7

172.1159. 5185.1

798.2

538.1201.3159.5127.9

95.7113.230.3

51.516.2

22.724.764.877.6

27.6

775.7

3,477

3,4601,1392,321

5431,437

315

12899

150

10888

123

' 172. 1

' 171. 8' 171. 3' 172. 3' 137. 6

' 169. 9r 165. 7

181.2••160.8' 179. 0

' 174. 1' 162. 0'186.6

803.3

541.5202.1160.1129.1

96.8113.530.6

51.616.2

22.725.265.378.1

27.8

780.9

r 4, 051

r 3, 847' 1, 525

2,322538

1,392371

143132150

124129121

' 163. 9

' 161. 7'159.7'164.2'130.4

' 161. 9' 157. 7'154.0

158.9' 170. 9

' 165. 7' 152. 8' 178. 9

'806.4

' 543. 2' 202. 0' 159. 6' 129. 7

'97.3114.230.8

51.7'16.1

22.725.366.078.6

28.0

' 784. 0

6,023

' 3, 819' 1,548

2,271527

1,369354

141133147

123125122

' 169. 2

'166.5' 160. 4' 174. 1' 139. 2

' 167. 9'166.8' 153. 1

' 170. 3

' 170. 5' 155. 4

186.0

811.8

546.6201.9159.9129.9

97.8117.031.1

51.816.1

22.825.566.779.4

28.2

789.4

4,5852,0762,509

5121,594

382

170180163

143156133

170.5

168.0162.7174.6140.9

169.5169.4168

169.6

171.4155188

r Revised. p Preliminary. § See note "rf1" on p. 8-2. ^Increase in U.S. officialreserve assets and decrease in liquid liabilities to all foreigners. ©Increase in U.S. officialreserve assets and decrease in liquid and certain nonliquid liabilities to foreign official agen-cies. fSee corresponding note on p. S-l. tSeries revised beginning 1967; monthly data

prior to May 1969 are shown in the Farm Income Situation, July 1970, available from theU.S. Dept. of Agriculture, Economic Research Service. (/"Revisions for Jan-Oct. 1968will be shown later. 9 Includes data for items not shown separately.


S-4 SURVEY OF CURRENT BUSINESS October 1970


1968 1969"

Annual

1969


1970

Jan. Feb. Mar. Apr. May June July Aug. Sept.*

GENERAL BUSINESS INDICATORS—ContinuedINDUSTRIAL PROD UCTIONd"— Continued

Federal Reserve Index of Quantity Output— Con.

Seas, adj., total index (incl. utilities) d*. 1957-59 =100.By industry groupings:

Manufacturing, total— do

Durable manufactures 9 doPrimary metals do

Iron and steel doNonferrous metals and products do

Fabricated metal products doStructural metal parts do

Machinery. doNonelectrical machinery _ doElectrical machinery do

Transportation equipment 9 . _ doMotor vehicles and parts doAircraft and other equipment do

Instruments and related products doClay, glass, and stone products doLumber and products doFurniture and fixtures doMiscellaneous manufactures do

Nondurable manufactures doTextile mill products . doApparel products doLeather and products doPaper and products. . do

Printing and publishing doNewspapers do

Chemicals and products doIndustrial chemicals. do

Petroleum products do

Rubber and plastics products doFoods and beverages do

Food manufactures . doBeverages do

Tobacco products. do

Mining doCoal doCrude oil and natural gas do

Crude oil_ _ doMetal mining doStone and earth minerals do

Utilities . doElectric doGas do

By market groupings:Final products, totaled, do

Consumer goods doAutomotive and home goods do

Automotive products ... _. doAutos .. doAuto parts and allied products do

Home goods 9.-- "doAppliances, TV, and radios do....Furniture and rugs do

Apparel and staples doApparel, incl. knit goods and shoes doConsumer staples do

Processed foods do

Beverages an d tobacco do.Drugs, soap, and toiletries doNewspapers, magazines, books doConsumer fuel and lighting do

Equipment, including defense 9 ... doBusiness equipment do

Industrial equipment doCommercial equipment doFreight and passenger equipment, do.Farm equipment. ._ do

Materialscf doDurable goods materials 9 do

Consumer durable _. _. _ doEquipment . _ doConstruction do

Nondurable materials 9 doBusiness supplies _ _ do

Containers doGeneral business supplies _ do

Business fuel and power9 doMineral fuels _ doNonresidential utilities do

165.5

166.9

169.8137.0130.7160.0

167.9162.2

184.3181.0188.5

179.5171.4185.0

184.2146.2122.3178.3161.4

163.3151.5149.9111.0163.8

149.6136.1

221.7262.0

139.6

222.0136.4132.7156. 5

120. 9

126.6118. 2126.8130. 5126.4137.8

202.5211.5174.1

165.1156.9175.0

174.3174.8173.8175.4168.4173.7

151.2139.5154.5132.6

144.5193.4143.3183.4

182.6184.7168. 2205.2234.3145.0

165 8157. 8164. 2185 1145.9

174.1157 6156 6158.1

152. 0133 0200.2

172.8

173.9

176.5149.1140.3181.1

179.8173.3

195 7194.6197.2

174.6166.9177.8

194.4156.0119.1186.9166.4

170.6154.2149.2101.9175.6

156.3142.7

239.0283.0

143.8

238.7140.7136.7161.9

117.3

130.2117.7129.3132.0142.0144.7

221 2233 0174 1

170 8162 5179.5

173.2162.8186 8184.0180.2180.3

157.1138 5162.4136.6

146.8209.0147.1199.6

188.6195.6179.1220.0246.7136.8

174 6165.5163.9191.9152 4

183.9166.6168 6165.5

158.2134 9216.7

174.3

175 4

178.8151 3141. 1177.9

180.6171.5

199.4195.5204.5

179.1174.1180.3

194.9155.3114.1186.5165.8

171.3153.0148.8100.0177.5

158.2144.4

238.1281.5

144.5

239.9143.1137.8171.3

114.8

131.2122.1130.2132.4142.3142.8

222 6234 4185.4

172.7164.2182.4

179.5178.4181.0184.5181.9179.7

158.4138.0164.1138.8

152.3207.2147.6201.1

190.3197.0180.3221.3249.7136.0

175.9167.3169.5195. 1149.9

184.7167.4166 7167.8

159.4136 5217.3

173.9

175 2

178 7149 3141 4178 6

179.1171.5

201 2199.8202.9

178.8170.5182.6

195.4157.7111 1185.3165.3

170.9151.6146 197.7

177.5

157.3143.3

240 2286.2

146 2

240.0142 2137.0169.9

118 6

131.6114.7133.1135.6133.1144.3

222.5234.1186.2

172.2162.8179.3

176.6169.9185.4181.2176.5177.9

157.6135.9163.7137.9

152.6208.6149.8198.6

192.4200.4183.9222.9251.9146.8

176.0166.6171.7197.2149.8

185.5167.0167 8166.6

159.8137 7221.1

173.1

173 9

177.3150 4141 5178.7

179.4172.5

199 0200.3197.3

175.7167.9179.6

193.9156.3113 8184.0165.3

169.5152.1146 5101 1177.1

156.9143 0

238 3281.2

146 7

238.6138 0132 6166 7

113 8

130.2115.7130.7132.8141.1139.6

226.0238.5186.9

170.9161.2176.8

172.8164.0184.4179.5175.2175.7

156.2136.4161.8132.3

148.9210.4147.1203.9

191.9200.9182.9224.9254.5153.1

175 4165.8166.4194 8149 6

185.3167 4169 9166.1

160.4135 7222.8

171.4

171 8

172.1150 3142 7183 1

179.2174.5

187.4194.9177.5

168.3159.9171.9

196.0155.9114. 1183.7166.4

171.5151.9148 0102 7175 9

159.1145.1

240.8283.9

150.9

240.2141.0137.5159.7

116.2

132.6118.9131.2133.5153.3146.8

226.0238.3187.6

168.4160.5167.2

168.0153.8186.7166.7142.2176.0

158.3137.5164.2136.5

145.0213.2148.9206.0

185.6194.4174.4223.3252.8136.5

174.6163.5158.5190.7150.2

186.0166.9165 6167.6

160.4136 5220. 9

171.1

171 3

171 1147 7138 8181 1

178.4177.1

188 7196.5178.3

163.9152.0170.7

197.4157.4109 7183.3167.2

171.5150 3147 998 0

178 0

158.6142 0

241 7283 8

149 5

234.8142 1137 4167 2

115 1

134 4119 3132.6135 0152 3154 8

227 9240 5188 4

168 5160 7164.4

160 9141 6186 2166 8140.1175 0

159 5137 7165.7137 0

149.6217.0149 7206.0

185 2193 8176.3223 6240 9135.4

173 9161.8150.9189 8150 4

186.5168 5174 0165 8

161.7137 7222. 5

170.4

170 2

169 7143 1135 2174 8

180.0175.4

189 7195.9181.5

159.6146.8166.7

194.8154.5118 0183.4168.2

171.0152.9145 896 9

173 8

157.9141 7

240 2281 9

143 3

231.4144 7140 2168 9

117 8

131 7113 1131.4133 7155 7142 6

230 1243 1

168 5161 5163.7

155 3132 9184 9169 6149.0173 8

160 8137 6167.3138 7

151 7217.6147 7210 0

183 6192 8175.0223 0239 5138.4

172 5160.1148.7188 6151 2

185. 3167 5173 7164 4

159.8135 3222.4

170.5

170 3

169 6139 2129 8177.3

178.9174.6

195 8195.8195.9

154.3142.1161.4

194.0155.0117 5179.4168.4

171.3151.3141 796 9

174.8

157.3142 1

242 6284 3

143 0

234.0145 2140 4170 7

122 8

134 2122 3131.8133 0158 4149 8

232 7246 1

169 9162 4166.6

154 8127 6190 7174 8168.6169 2

161 0135 7168.2139 5

154 6217.9147 6210 3

186 2196 9184.9222 4231 8130 3

171 5157.9142.3188 6150 7

185.5166 2169 3164 7

162.0137 1225.0

171.1

170 8

171 0141 9134 4183 6

178 3174.4

199 1196.6202.5

156.0148.9159.1

193.6151.7113 1180.4167.8

170.6150 3140 195 9

174 9

156.9137 9

242 3284 8

146 6

235 3143 3140 0161 0

116 8

135 1121 5132.4133 5165 8150 1

230 3242 8

169 7162 0171.4

160 0138 4188 5179 4178.1170 3

159 0133 4166.2139 6

146 1216 5146 1207 2

186 3198 0186.8225 0996 1

134 6

171 7159.1143 0189 8148 8

184.7164 8165 0164 7

162.7137 4226.3

170.2

170 0

168.4138 9133.0175.4

175.2170.2

194 9191.7199.1

153.1148.0154.1

195.4154.6115 5179.5167.4

171.9151.3140 8100.2176.3

156.9139.3

244 4289.2

147 9

239.4143 7140.1162.8

125.1

133.9123 0131.3135.2162.6146.1

233 8247 1

168 5163 2171.1

158.4136.1187 8180.0178.9170.6

160.7133 8168.4140 2

150.1218.6146.0212.6

179 9193 0182.1223 4215.4130.4

171 9159.6143.6183 8148 8

184.6164 5166 2163 7

163.8139 1226.5

169.0

168 1

167 6142 6136 7174 4

171.4164.2

191 0187. 1196.3

157.3158.5153.0

T 191. 3152.6116 1174.4163.6

168.7147 8137 7104 5174 5

154.8136 9

241 4281 3

146 5

212 2143 1141 0154 6

117 8

134 8134 2131.9135 8151 8142 8

234 9248 4

167 7163 2173.5

166 4156 0180 1178 4182.6165 5

159 9131 4168.0141 1

142 2219 6146 <J212 3

177 3188 7175.8220 4216 8127 4

170 4157.5146 0177 5146 8

183.8162 1m o

159 1

166.014' 02^8. 1

168.8r 168. 0

167.3' 142 7r 138. 8' 169. 2

172.3164.4

190 6185.2197.7

159.9164.4153.3

' 187. 9' 149. 4' 107 6

173.8162.6

' 168. 9' 145 9T 139 0

T 99 3r 170 8

155.2137 5

r 243 2T 285 8

147 8r 227 8r 140 7r 138 3

153 7

120 7r 135 5

124 3' 135. 1r 137 5' 150 3

143 0

r 235 4T 248 7

r 167 1

r 162 8

' 172. 7

170 3163 0179 9177 7178.8164 9

r 159 or 139 4

' 166. 6137 9

142 6r 217 4

147 6T 213 7

r 176 3188 0175.2220 4

r 213 8128 6

r 171 2r 157. 8

155 4176 6

r 145 1

184.9163 4166 0162 1

166.6142 4228^6

169.2

168.4r 167. 3r 145. 2r 136. 8T 111. 2

' 172. 9' 162. 9

191.4r 185. 2' 199. 7r 158. 1'164.8' 149. 7

' 187. 0' 148. 9

105 3r 172. 5' 162. 0r 169. 7T 144. 9

140 395 6

r 170. 6

' 154.6140.0

' 242 5285 0

r 145 5

247.2r 141 1r 139 5

149 6

126 6r 134 9r 126 6' 133. 6

136 9T 150 7r 143 8

r 236 3249 5

r 167 5r 164 7' 179. 7

' 174 0163 8

r 187 3T 181 0' 187. 7r 164 5

158 8132 2

' 166. 3r 138 7

141 9r 217 4r 142 q

219 8

r 173 7T 186 1' 174. 6r 218 3r 207 3

126 0

r 171 8' 158. 0r 156 0r 178 4T 145 3

' 186. 0T 167 5r 168 0T 167 9

' 166. 4T 141 7

229.4

'168.9

' 167. 6

' 166. 2145.5

' 134. 0169.8

171.4' 163. 1

' 190. 5' 183. 5r 199. 8

' 155. 9'164.6' 145. 7

' 183. 2' 149. 0

172.7' 158. 4

' 169. 5144.9

170.6

' 154. 4138.7

238 3

147 5

142 9140 5

r 138.2r 128 5

138.1r 141 5

152.4142 3

r 236 5

r 166 8T 164 2' 179. 8

' 173. 0163 3185 7184 5199. 8164 9

167.0140 0

213.8143 5

T 172 2T 184 9

173.7214 1205 5

r 170 9' 156. 9

156.9176 2144 g

185. 3163 7165 6162 8

r 168. 9T 145 9

166.0

164.0

160.9146134

169161

187180196

139131143

181150

171157

167.9

152

139.6130141145

239 5

162 9160 3164

141109

167

168 5181

168 8152

186

17214(>

' Revised. *> Preliminary. cfSee corresponding note on p. S-3.9 Includes data for items not shown separately.

f Revised data back to 1961 for mfg. and trade invent., total, unadj. and seas, adj.; invent.-sales ratios for mfg. and trade, total and retail trade, total, durable, and nondurable, appear onpp. 38 ff. of the Oct. 1970 SURVEY. Revised data back to 1961 for mfg. and trade sales, totalseas, adj.; mfrs. sales, and mfrs., invent., total, durable, and nondurable, seas, adj.; and in-vent.-sales ratios for mfg., total, durable, and nondurable are avilable upon request (see alsocorresponding note on p. S-7).




196S 1969

Annual

1969


1970

Jan. Feb. Mar. Apr. May June July Aug. Sept.

GENERAL BUSINESS INDICATORS—ContinuedBUSINESS SALES §

Mfg. and trade sales (unadj.), total f _ _ mil. $__

Mfg. and trade sales (seas, adj.), total t do

Manufacturing, total f doDurable goods industries doNondurable goods industries do

Retail trade total doDurable goods stores doNondurable goods stores do

Merchant wholesalers, total doDurable goods establishments _ . doNondurable goods establishments do

BUSINESS INVENTORIES §

Mfg. and trade inventories, book value, end of yearor month (unadj.), total f. mil $

Mfg. and trade inventories, book value, end of yearor month (seas, adj.), total f mil $

Manufacturing, total f doDurable goods industries doNondurable goods industries do

Retail trade, total t doDurable goods stores doNondurable goods stores do

Merchant wholesalers, total doDurable goods establishments doNondurable goods establishments.. _ do

BUSINESS INVENTORY-SALES RATIOS

Manufacturing and trade, total f _ _ ratio..

Manufacturing, total t doDurable goods industries t do

Materials and supplies doWork in process doFinished goods do

Nondurable goods industries f doMaterials and supplies doWork in process doFinished goods do

Retail trade, total J doDurable goods stores doNondurable goods stores do

Merchant wholesalers, total doDurable goods establishments doNondurable goods establishments do

MANUFACTURERS' SALES, INVENTORIES,AND ORDERS

Manufacturers' export sales:Durable goods industries:

Unadjusted, total mil $Seasonally adj., total do

Shipments (not seas, adj.), total t - - do

Durable goods industries, total 9 doStone, clay, and glass products doPrimary metals do

Blast furnaces, steel mills do

Fabricated metal products doMachinery, except electrical—. doElectrical machinery doTransportation equipment do

Motor vehicles and parts doInstruments and related products do

Nondurable goods industries, total? doFood and kindred products doTobacco products doTextile mill products. do

Paper and allied products doChemicals and allied products.. _ doPetroleum and coal products.. doRubber and plastics products do

Shipments (seas, adj.), total t doBy industry group:

D urable goods i ndustries, total 9 doStone, clay, and glass products doPrimary metals do

Blast furnaces, steel mills _ do

Fabricated metal products.. doMachinery, except electrical.. doElectrical machinery. doTransportation equipment do

Motor vehicles and parts... doInstruments and related products do

-•1,163,869

'11,163,869

'1604,602331, 835272, 767

la 339 324110,245

-229,0791 219, 943100,012119, 930

r 151,327

' 152,699

r 88, 56757, 39931, 168

' 41, 604' 18, 851r 22, 753

22, 52813,4549,074

'1.52

'1.70'2.00

.59

.92

.49

'1.33.50

9Q

.62

'1.43'1.97'1.17

1.201.54.91

14,944

' 604,602

331, 83515,75450, 45724, 901

34, 18058,04743, 23784, 16347, 63811,370

272, 76790,1574, 922

21, 458

24, 20846, 46522, 26714, 265

'1,245,058

'1,245,058

'1656,717364,983291, 734

1351,633112,779238,854

» 236, 708109, 578127, 130

' 163,375

' 164,917

' 95, 93163,54732,384

' 44, 623' 19, 980' 24, 643

24,36314, 5799,784

'1.53

'1.69' 1.99

.56

.93

.50

'1.31.48.21.62

'1.47'2.05'1.19

1.191.53.89

17, 189

656,717

364,98317, 21957, 13726, 493

37, 02464,55146, 72691, 48050,14413,563

291, 73496,7175,121

21, 262

26, 95148, 69824, 55516, 552

' 102,966

' 105,295

' 55,89031,54824,342

29,3469,161

20, 185

20,0599,178

10,881

' 158,898

' 160,734

' 93,59061,65331, 937' 43,535' 19,399r 24,13623,60914, 2209,389

'1.53

'1 67' 1. 95

.54

.92

.50

'1.31.48.20.62

'1.48'2.12'1.20

1.181.55.86

1,2951,424

53,506

28, 8501,5314,5842,148

3,1355,0953,8446,3022,9551,166

24, 6568,159

4531,852

2,2644,0402,0881,311

55,890

*U,5481,4264,8092,226

3,0955,4773, 9598,5775,1091.160

' 107,360

' 106,078

'56,60931, 91421, 695

29,2599,384

19, 875

20,2109,304

10,906

' 160,454

' 161,841

' 94,22862, 10032, 128

' 43,897' 19,633' 24,26423,71614, 1829,534

'1.53

'1.66'1.95

.53

.92

.50

'1.30.48.20.62

'1.50'2.09'1.22

1.171.52.87

1,4651,486

58,139

32, 3361,5924,9462,262

3,2495,7004,2168,1314,6251,287

25,8038,708

4541,884

2,3384,2682,1551,423

' 56,609

31, 9141,4515,0392,371

3,1575,6383,9498, 4624,8961.198

'111,166

' 106,593

'56,68531,68025,005

29,6209,354

20,266

20,2889,359

10,929

' 163,229

' 163,331

'94,96462,70432, 260

' 44,411' 20,044' 24,36723,95614,3659,591

'1.53

'1.68' 1.98

.54

.93

.51

'1.29.48.20.61

'1.50'2.14' 1.20

1.181.53.88

1,6531,637

' 58,586

32,5641,6045,0262,316

3,3715,4694,1758,5304,9731,176

26, 0228,677

4141,990

2,3504,2302,0821,594

' 56,685

31,6801,4625,1312,446

3,2475,5253,9598,1544,4691.135

' 105,487

' 105,566

'55,88831,01124, 877

29,4719,229

20, 242

20,2079,352

10,855

' 165,057

' 163,763

r 95 47463,08932, 385' 44,268' 19,835T 94 A.*¥\

24,02114,3899,632

'1.55

'1.71'2.03

.56

.96

.52

'1.30.48.20.62

'1.50'2.15'1.21

1.191.54.89

1,4851,470

55,928

30, 9861,4504,8492,198

3,1335,2373,9428,2364,4391,204

24, 9428,3*3

4381,847

2,2784,0362,1421,405

'55,888

31,0111,4805,0642, 392

3,2045,4233,8207,8434,0821.175

' 110,662

' 105,021

' 55,54030,60324, 937

29,4199,275

20,144

20,0629,102

10, 960

' 163,375

' 164,917

' 95,93163,54732,384

' 44,623' 19,980T 94 RA1

24,36314, 5799,784

'1.57

'1.73'2.08

.58

.97

.53

'1.30.47.20.62

'1.52'2.15'1.22

1.211.60.89

1,7411,574

' 53,996

30, 1491,3354,6512,121

3,1425,3193,7818, 0503,8651,213

23,8478,414

4311,647

2,1873,6702,1281,317

' 55,540

30, 6031, 4955,0222,380

3,2495,3013,7237,7053,9041.161

' 97,486

' 104,932

' 55,07029,93025, 140

29,5708,886

20,684

20,2929,201

11,091

' 163,735

' 164,698

'96,20063,90932, 291

r 44 HI 4r 1 Q 149' 24,67224,48414,6369,848

'1.57

'1.75'2.14

.58

.99

.56

'1.28.46.20.62

'1.49'2.18'1.19

1.211.59.89

1,4571,551

' 51,622

27,9531,2504,9312,365

2,9695,0173,3866,6683,6661,035

23, 6698,088

4141,626

2,2393, 7972,1671,390

' 55,070

29, 9301,4645,0802,413

3,2955,5053,6556,7833,5731.170

' 100,264

' 106,164

' 55,61330, 27325,340

29, 9809,143

20,837

20, 5719,344

11,227

' 165,650

' 165,638

' 96,65263, 97732, 675

' 44,133' 19,388' 24,74524,85314,78810,065

'1.56

'1.74'2.11

.58

.99

.54

'1.29.47.20.63

'1.47'2.12'1.19

1.211.58.90

1,6321,687

' 56,322

30,8531,3564,9572,213

3,2225,8053,8357,6273,9241,159

25, 4698,506

4071,761

2,3864,2432,1671,571

' 55,613

30, 2731,4884, 7392,134

3,2205,5943,7837,3613,7381.184

' 106,480

' 105,487

' 55,22329, 75725, 466

29,8019,134

20,667

20,4639,300

11,163

' 167,211

' 166,149

' 96,98264,26332, 71944,32519,471

' 24,85424,84214, 78110, 061

'1.58

'1.76'2.16

.601.01.56

'1.28.47.19.62

'1.49'2.13' 1.20

1.211.59.90

1,8471,727

' 57,173

31, 2481,4644,9942,229

3,2465,8443,8707,6303,8981,223

25, 9258,717

4301,862

2,4304,3922,0851,618

' 55,223

29, 7571,5024,6922,037

3,1895,4273,7197,1503,5631.205

' 105,633

' 105,087

'54,53929, 63324,906

30,5369,340

21, 196

20,0129,034

10, 978

' 168,961

' 167,059

' 97,79164, 68933,102' 44,326' 19,426' 24,900

24, 94214, 77310, 169

'1.59

'1.79'2.18

.591.02.57

'1.33.48.20.65

' 1.45'2.09'1.17

1.251.64.93

1,7391,717

55,646

30, 4991,4714,7241,960

3,0965,5933,7477,8344,0331,112

25, 1478, 396

4391,729

2,3474,3102,1181,519

'54,539

29, 6331,4434,4261,780

3,0325,3503,8357,5493,8061.144

' 107,931

' 106,847

' 55,66130,48825, 173

30, 5029,320

21, 182

20,6849,394

11,290

' 168,391

' 166,734

' 97,63564, 44733,188

' 44,109' 19,346' 24,76324, 99014,76310, 227

'1.56

'1.75'2.11

.57

.99

.55

'1.32.47.20.65

'1.45'2.08'1.17

1.211.57.91

1,7791,722

' 56,358

31,3001,5295,0712, 292

3,2395,6953,8327,9434,3001,119

25, 0588,423

4561, 709

2,3284,3762,1391,537

' 55,661

30, 4881,4754,7862,099

3,1785,5963,9937,4843,9051.137

' 112,046

' 107,612

' 56,43830, 63825,800

30, 5189, 411

21, 107

20,6569, 482

11, 174

' 168,014

' 167,375

' 97,70664, 39533, 311

' 44,527' 19,552' 24 97525, 14214, 85510, 287

'1.56

'1.73'2.10

.57

.99

.54

'1.29.46.19.64

'1.46'2.08'1.18

1.221.57.92

' 1, 829' 1, 774

' 59,340

32, 8451,6435,2052, 386

3,5115,8774,1718,1614,6241,247

26, 4959,062

4541,834

2, 4224,3832,2151,623

' 56,438

30,6381, 5194,8342,201

3,2655,4183,9627,5624,1241.175

r 104,249

•• 108,393

' 57,02531,31525, 710

' 30,729r 9, 487' 21,242

' 20,639' 9, 423' 11,216

' 167,832

' 168,635

' 98,26065, 07933, 181' 44,965' 19,739' 25,226' 25,410' 15,066' 10,344

'1.56

'1.72'2.08

.56

.98

.54

'1.29.46.19.64

'1.46'2.08'1.19

' 1.23'1.60

.92

' 1, 583/ 1, 776

' 52,134

27, 8801,4864,4402,114

3,1075,0773,6076,2703,0371,065

24,2548,225

4731,511

2, 2373,8892,1261,463

' 57,025

31,3151,5174,8912,259

3,3235,5673, 9957,8574,3281,168

105, 874

108, 168

56,90331, 32025, 583

30, 6909,450

21, 240

20, 5759,342

11,233

167, 274

169, 271

98, 33965, 16933, 17045, 45320, 11925, 33425, 47915, 23110, 248

1.56

1.732.08.56.98.55

1.30.46.19.64

1.482.131.19

1.241.63.91

1,5121,671

55, 055

29, 1531,5904,7052, 148

3,3285,1473,8496,3102, 9271,147

25, 9028,641

4731,750

2,3804,1782,2081,493

56, 903

31, 3201,4814,9412,292

3,2915,5203, 9828,0274,5251,138

1 See corresponding note on p. S-ll. i Based on data not seasonally2 Advance estimate; total mfrs. shipments for Aug. 1970 do not reflect revisions

1 components. § The term "business" here includes only manufacturing andtrade; business inventories as shown on p. S-l cover data for all types of producers, both

farm and nonfarm. Unadjusted data for manufacturing are shown below and on p. S-6;those for wholesale and retail trade on pp. S-ll and S-12. tSee corresponding noteson pp. S-4 and S-7. JSee corresponding note on p. S-12. 9 Includes data foritems not shown separately.


S-6 SURVEY OF CUKKENT BUSINESS October 1970

Unless otherwise stated in footnotes below, datathrough 1968 and descriotive notes are as shownIn the 1969 edition of BUSINESS STATISTICS

1968 | 1969

Annual

1969


1970


GENERAL BUSINESS INDICATORS—Continued

MANUFACTURERS' SALES, INVENTORIES,AND ORDERSf— Continued

Shipments (seas. adj. ) f — ContinuedBy industry group:

Nondurable goods industries total 9 mil $Food and kindred products doTobacco products doTextile mill products doPaper and allied products doChemicals and allied products doPetroleum and coal products do,Rubber and plastics products do

By market category:Home goods and apparel doConsumer staples doEquipment and defense prod., excl. auto doAutomotive equipment _ doConstruction materials and supplies doOther materials and supplies do

Supplementary series:Household durables doDefense products (old series) doDefense products (new series) doProducers' capital goods industries do

Inventories, end of year or month :tBook value (unadjusted) total do

Durable goods industries total doNondurable goods industries, total do

Book value (seasonally adjusted) total t doBy industry group:

Durable goods industries total 9 doStone, clay, and glass products doPrimary metals do

Blast furnaces, steel mills do

Fabricated metal products doMachinery, except electrical doElectrical machinery doTransportation equipment do

Motor vehicles and parts doInstruments and related products do

By stage of fabrication:Materials and supplies 9 do

Primarv metals _ rioMachinery (elec and nonelec ) doTransportation equipment do

Work in process 9 doPrimary metals doMachinery (elec. and nonelec ) doTransportation equipment do

Finished goods 9 doPrimary metals.. ... _ doMachinery (elec. and nonelec ) doTransportation equipment do

Nondurable goods industries, total 9 doFood and kindred products doTobacco products doTextile mill products _ doPaper and allied products doChemicals and allied products doPetroleum and coal products doRubber and plastics products do

By stage of fabrication:Materials and supplies, .. doWork in process.. . doFinished goods do

By market category:Home goods and apparel ... _ doConsumer staples doEquip, and defense prod., excl. auto doAutomotive equipment. doConstruction materials and supplies doOther materials and supplies do

Supplementary series:Household durables doDefense products (old series) . doDefense products (new series) doProducers' capital goods industries do

New orders, net (not seas, adj.), total t doDurable goods industries, total.. doNondurable goods industries, total do

New orders, net (seas, adj.), totalf doBy industry group:

Durable goods industries, total 9 doPrimary metals do

Blast furnaces, steel mills. do

Fabricated metal products doMachinery, except electrical doElectrical machinery doTransportation equipment do

Aircraft, missiles, and parts do

Nondurable goods industries, total doIndustries with unfilled orderse doIndustries without unfilled ordersf do

- 156, 010

'1115, 551196, 115154, 048148, 587

- 234, 291

124, 915146, 201123, 91568,' 757

88, 23957,03431, 205

T 88, 567

57, 3992,2107,5354,028

6,27311,3328,575

13, 9604,2732, 170

- 16, 6342,7914 8293,403

- 26, 327v 5299, 4919, 192

T 14, 4382,2155 5871,365

- 31 168

7 3702 2573 5592 3945 9312 1021 799

r 11 617r 4 834

r 14 717

r 9 461

r 11 790r 22 178

T 5 218r 7 393

r 32 527

r 4 645r 11 485

T 7 112T 14 070

r608 038335 301272 737

ri608 038

335 30149 79124, 379

35 97558 28143 91586 78931 515

272 73774 347

1Q8 son

rt57, 935>-il24, 395-1108, 385-157, 175'154, 130

-1254, 697

-126,951'150, 144-124, 511-175, 694

95, 47563,10632, 369

- 95, 931

63, 5472,4728,0334,300

6,59813, 2169,373

15, 5844, 1732,460

- 17, 6062,8285 5713 295

r 29, 7902 759

10 73310 717

r 16 1512,4466 2851 572

-32 3847 2402 1983 5252 6446 6252 2551 886

r 11 821r 5 072

r 15 491

- 9 924r 12 102T 25 862- 5 299- 7 980

r 34 764

- 5 097r 13 173- 7 459

r 16 353

-659 191367 482291 709

rigsg 191

367 48258 49127,281

37 73666 96647 03089 41830 952

291 70980 276

91 1 433

- 24, 3428,118

4271,7922,2424,0552,0681,354

- 4, 776- 10, 433- 9, 172- 5, 722- 4, 456

-21,331

- 2, 240-4, 171- 2, 157- 6, 455

93, 26261, 54131, 721

- 93, 590

61, 6532,4677, 9264,264

6,35712, 5779, 081

15, 1134 1292,422

-16,9592, 7915 1633 167

-29,0072 728

10 40710 433

-15,6872,4076 0881 513

-31 9377 3352 2373 5692 4716 4302 0751 880

rll 743- 4 985

-15 209

- 9 850r 12 H5

-24 589- 5 265r 7 801

-33 970

- 5 053- 12 632- 7 707

-15 669

r 53 10728 52624 581

-55 779

31 4635 1452,492

3 1065 5963 825$ 3582 757

24 3166 678

17 R3S

-24,6958,211

4451,7572,2654,1162,1211,428

- 4, 778- 10, 569- 9, 304- 5, 522- 4, 484

-21,952

- 2, 235- 4, 190- 2, 108- 6, 679

93, 41561,64331, 772

- 94, 228

62, 1002,4757,9664,280

6,43012, 6899, 198

15, 1533 9782 432

- 17, 0242,8145 2443 091

- 29, 2922 735

10 51410 557

-15,7842 4176 1291 505

-32 1287 3802 2323 5482 5146 4642 1041 889

-11 803- 5 047

-15 278

- 9 918- 12 199-24 971- 5 121- 7 862

-34 157

- 5 099- 12 840- 7 780

r!5 832

- 58 59832 81925 779

-56 669

31 9865 2762,610

q qi a

5 9573 6548 0852' 359

94 6836 732

17 051

- 25, 0058,339

4241,8182,2854,1432,0761,522

- 4, 790- 10, 763- 9, 376- 5, 135- 4, 568

-22,053

- 2, 225- 4, 351- 2, 089-6,417

94, 11862, 17331, 945

- 94, 964

62, 7042,4737 9754 272

6 44312 9499, 280

15, 3764 0672 436

-17 1012 7985 3863 076

- 29, 5522 732

10 58410 740

-16 0512 4456 2591 560

-32 2607 2772 9493 5432 5776 5252 1411 881

- 11 997- 5 078

- 15 185

- 9 949-12 119-25 387- 5 181- 7' 901

-34 497

- 5 104- 12* 973r 7 730

r 16 151

- 58 04932 05625 993

-56 430

31 436C IQfi

2,498

3 9885 5964 1257? 6362 618

24 9946 859

ie 135

-24,8778,330

4331,7712,2984,1642,1321,435

- 4, 557- 10, 726- 9, 339- 4, 671- 4, 614

-21,981

- 2, 082- 4, 457- 2, 199- 6, 381

94, 75562, 57032, 185

-95,474

63, 0892,4788,0134,285

6,51113, 1109, 315

15, 4314 0872,447

-17,2172, 7905 4603 106

- 29, 6932 758

10 69310 753

-16, 1792 4656 2721 572

-32 3857 2952 2383 5022 6186 5812 1851 869

-11 966- 5 076

-15 343

- 9 947- 12 162-25 612- 5 193- 7 948

-34 612

- 5 114- 13 036- 7 602

- 16 989

r 55 37230 43024 942

-55 912

31 0484 7CK

2, 129

3 1 075 4733 7528* 2153 171

24 8646 804

ia nfin

-24,9378,513

4341,7312,2804,1142, 1391,370

- 4, 620- 10, 899- 9, 201- 4, 494- 4, 555

-21,771

- 2, 078- 4, 476- 2, 259- 6, 275

95, 47563, 10632, 369

-95,931

63, 5472,4728 0334,300

6 59813 2169, 373

15, 5844 1732 460

-17,6062 8285 5713 295

- 29, 7902 759

10 73310 717

-16 1512 4466 2851 572

-32 3847 2402 1983 5252 6446 6252 2551 886

-11 821- 5 072

-15 491

r 9 994

-12 102- 25 862- 5 299- 7 980

-34 764

- 5 097-13 173

r 7 459- 16 353

- 53 54929 74023 809

-55 138

30 2094 fifi11, 981

3 3895 5704 1266* 9162 509

24 9296? 761

18 IfiS

- 25, 1408,510

4591,7842,3384,0062,2411,492

-4,511- 10, 889- 9, 019- 4, 159- 4, 515

-21,977

- 1, 996- 3, 959- 1, 792- 6, 346

96 27163, 70232, 569

- 96, 200

63, 9092,4928 1144,265

6 69513 2679,404

15, 6654 2102 475

-17,4182 9045 2593 263

- 29, 5842 824

10 38810 857

-16 9072 3867 0241 545

-32 2917 2402 1703 4562 6716 5572 3131 913

-11 647- 5 076

-15 568

- 9 895r 12 126-25 953- 5 337- 7 979

-34 910

- 5 142r 13 150- 7 498

r 16 449

- 51 35627 76623 590

-54 119

29 0464 6581, 963

3 0105 4083 8916* 4602 193

25 0736 815

18 9*8

-25,3408,547

4281,7822,3614,2372,1621,559

- 4, 445- 10, 977- 9, 478- 4, 355- 4, 466

-21,892

- 2, 028- 4, 328- 1, 924- 6, 554

97, 18164, 24432, 937

-96,652

63, 9772,5278, 1244,251

6,70813, 3459,493

15, 5224 1672, 509

-17,7022,9395 5443 204

- 29, 9652 741

10 82410 788

-16,3102 4446 4701 530

-32 6757 4519 1503 4392 6826 6122 3281 946

-11 818- 5 013

r 15 844

- 9 896- 12 374-95 925- 5 299- 8 005

-35 153

- 5 153- 13 044- 7 994

- 16 58^

-55 94130 49225 519

-54 714

29 3684 3091,813

3 2055 5443 7947 0402 572

95 3466 923

18 493

-25,4668,759

4441,8192,3564,2442,1231,551

- 4, 446-11,141- 9, 193- 4, 199- 4, 440

- 21, 804

- 2, 046- 4, 292- 1, 943- 6, 379

97, 50464, 59932, 905

- 96, 982

64, 2632,5358,2544,358

6,74513, 4479, 551

15, 5154 1282 583

-17,6983,0125 5403 148

- 30, 0602 762

10 87510 826

- 16, 5052 4806 5831 541

-32 7197 4872 1593*4232 6866 6402 3451 958

-11 936T 4 958

-15 825

- 9 845-12 438-26 003- 5 255- 8 006

-35 435

- 5 169-13 015- 7 326

r 16 715

-56 35230 41295 940

-54 339

98 8614 5471, 948

3 2385 1493 7266? 6602 700

25 4786 900

18 578

- 24, 9068,587

4541,7362,3264,0002,1391,441

- 4, 424- 10, 920- 9, 270- 4, 423- 4, 326

-21,176

- 2, 061- 4, 515- 2, 010- 6, 252

98, 58865, 28533, 303

-97,791

64, 6892,5748,5444,571

6 70213 5729, 587

15, 4424 1152 637

-17,5703,0275 5653 117

- 30, 3092 891

10' 94610 783

-16,8102 6266 648l' 542

-33 1027 5792 1653 4272 7136 7042 3741 948

-11 950- 4 993

-16 159

- 9 930- 12 565-26 185- 5 245- 8 035

-35 831

- 5 169- 12 941- 7 359

-16 911

-54 809

29 59425 208

-53 374

28 4494 7392,036

2 9435 2873 7056* 3862 048

24 9956 869

ia O5fi

- 25, 1738,541

4441,7402,3254,2002,1561,484

- 4, 585- 10, 870- 9, 483- 4, 523- 4, 452

-21,748

- 2, 143- 4, 255- 2, 003- 6, 697

98, 62565, 22233, 403

-97,635

64, 4472,5738, 6094, 589

6,64813, 6189, 454

15, 3094 0402,681

-17,4473,0345 5373 087

- 30, 3082 939

10 94010 709

- 16, 6922 6366 5951 513

-33 1887 5812 1423 4312 6976 7982 4141 920

-11 921- 5 013

-16 ?54

- 9 847- 12 554-26 119- 5 161- 8 016

- 35 938

- 5 050- 12 872- 7 189

r 16 898

-54 90929 82525 084

-55 139

29 9774 8742,234

3 3915 4684 0526? 8302 597

95 1626 810

18 359

- 25, 8008,837

4171,7512,3164,1682,1271,536

- 4, 889-11,222- 9, 079- 4, 789-4,554

- 21, 905

- 2, 197- 4, 097- 2, 130- 6, 446

98. 07364, 77933, 294

-97,706

64, 3952,5588, 5984,608

6,63313, 7039,521

15, 1903 9772,674

- 17. 4383,0465 6083,029

-30,2632 921

10 98410, 641

- 16, 6942,6316 6321 520

-33,3117 5632 1423,3802 7386 8952 4461 915

-11 910- 5 002

-16 399

- 9 813-12 587-26 941- 5 094- 8 026

-35 945

- 5 018-12 816- 7 104

-17 026

-58 58232 14726 435

-55 778

30 0284 9322,302

3 5095 1723 7227 3042 384

25 7506 925

18 895

-25,7108,538

4591,7832,4184,1662,1361,598

- 4, 816-10,918- 9, 345- 4, 966- 4, 643

-22,337

- 2, 099- 4, 192- 2, 048- 6, 727

-97,921-64,838-33,083

- 98, 260

65, 0792,5878,6414,658

6,69713, 8769, 690

15, 3394 0362,685

-17,4703,0355 5923 081

-30,6052 939

11, 12710, 717

-17,0042,6676 8471,541

-33,1817 4572 1453,3832,7546 9212,3801 930

-11,849- 4 977

- 16, 355

- 9 892-12 465-26 613- 5 181- 8 086

-36 023

- 5 108-12 906- 7 143

-17 285

-52 42228 17124 251

-57 111

31 3994 8942,387

3 2205 4014 1138 0763 047

25 7127 129

18 583

25, 5838,602

4461,7002,3604,1852,1841,541

4,72210, 9879,4165,1304,620

22, 028

2,0344,2742,0966,650

97, 99865, 02132, 977

98, 339

65, 1692,6388,6894,694

6,79013, 8019, 670

15, 2554 0002,671

17,4543,0305,5873,053

30, 5902, 955

11,01510, 665

17, 1252,7046, 8691,537

33, 1707 2722 1713,3752,7526,8952,4261 914

11, 8494 937

16 384

10, 08612 33826 388

5 1448 193

36 190

5 16612 7477 056

17 273

54 02328 18725 836

56 122

30 5564 8362,291

3 5055 2463 8347 5892 662

25 5666,845

18. 721

newordprffnr A aiSS?n°in data not Se3onally adjusted. 2 Advance estimate; total mfrs.imr nnrp mi n Q g' o T n

1ot/eflect revisions for selected components. t See correspond-

mill nrnrli P?Q in ^ 9 Jlclu?es data for items not shown separately. 0 Includes textileproducts, leather and products, paper and allied products, and printing and publishing

industries; unfilled orders for other nondurable goods industries are zero.IFor these industries (food and kindred products, tobacco products, apparel and related

products, petroleum and coal products, chemicals and allied products, and rubber and plasticproducts) sales are considered equal to new orders.Digitized for FRASER

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

October 1970 SURVEY OF CUEEENT BUSINESS S-7

Unless otherwise stated in footnotes below, datathrough 1968 and descriptive notes are as shownin the 1969 edition of BUSINESS STATISTICS

1968 1969

Annual

1969


1970


GENERAL BUSINESS INDICATORS—Continued

MANUFACTURERS' SALES, INVENTORIES,AND ORDERSf— Continued

New orders, net (seas, ad j Of— ContinuedBy market category:

Home goods and apparel ..mil. $..Consumer staples doEquip and defense prod., excl. auto _ do _Automotive equipment doConstruction materials and supplies doOther materials and supplies , _ do --

Supplementary series:Hou sehold durables doDefense products (old series) doDefense products (new series) do . .Producers' capital goods industries do

Unfilled orders, end of year or month (unadjusted),total mil $

Durable goods industries, total doNondur goods nd. with unfilled orders© do

Unfilled orders, end of year or month (seasonallyadjusted), totalf _ mil. $

By industry group:Durable goods industries, total 9 do

Primary metals _ doBlast furnaces, steel mills do .

Fabricated metal products doMachinery, except electrical . _ do _ _Electrical machinery doTransportation equipment do

Aircraft, missiles, and parts __ do

Nondur. goods ind. with unfilled orders®, do. .

By market category:Home goods, apparel, consumer staples . doEquip, and defense prod., incl auto doConstruction materials and supplies do _.Other materials and supplies do

Supplementary series:Household durables . . do .Defense products (old series) do ...Defense products (new series) doProducers' capital goods industries do _.

BUSINESS INCORPORATIONS^

New incorporations (50 States and Dist. Col.):Unadjusted numberSeasonally adjusted do

INDUSTRIAL AND COMMERCIALFAILUREScf

Failures, total __ . numberCommercial service . doConstruction doManufacturing and mining doRetail trade. _ _ doWholesale trade do

Liabilities (current), total thous $Commercial service doConstruction doManufacturing and mining. . _ . _ _ doRetail trade _ doWholesale trade . _ do

Failure annual rate (seasonally adjusted)No. per 10,000 concerns

'2 56, 0602115,5952 98, 601

••2 54, 5532 49, 5162233,713

'225,004••247,412 1' i'2 69, 647

85, 93882, 9462,992

' 86, 718

83, 6656,2743,081

9,96914, 74613, 11033, 65526, 939

3,053

r2,209T 47 078' 10, 175r 27 256

' 1, 775' 33, 091r 21 775r 22, 023

233 635

9 6361,1061 6701 5134 366

981

940 99687 289

212 459291, 700220 223129 325

3 38 6

'2 57, 779'2124,360••2109,426'2 57, 315'2 54, 710••2255,601

2' 26, 8112' 47, 317' 23, 118' 78, 640

88, 41285, 4452,967

' 89, 221

86,2067,6573,896

10, 68417,20213, 40631, 57024, 293

3,015

' 2, 014'48 253r 10, 767' 28 187

' 1,633' 30, 246' 20 372r 24, 993

274 267

9,1541,1591 5901,4934,070

842

1 142 113126 537171,717406, 450265 122172, 287

237.3

'4,70910, 430

r 8, 939'5,708' 4, 46921, 524

' 2, 168' 4, 012' 1, 608'6,294

89, 49386, 4353,058

89, 794

86, 7358,0254,267

10, 36116, 49313,20032,88225,648

3,059

' 2, 138'48,076' 10, 465'29 115

' 1, 761'31,499'21,423'24,030

20, 99022,967

70286

126108303

79

62 8304 347

10, 29319, 25217 85111, 087

36.0

' 4, 745' 10, 567' 9, 301' 5, 527' 4, 690

'21,839

r2, 198' 3, 447' 1, 438' 7, 086

89, 95286, 9183,034

'89,854

86, 8078,2624,506

10, 52016, 81212 90532, 50525, 172

3,047

'2,103'48 078'10,671'29 002

' 1 724' 30, 756'20 753'24 437

21 49823 138

72690

124110338

64

73 6989 416

10 17318,41224 01611 681

39 9

' 4, 741' 10, 766' 8, 975'5,061' 4, 628

'22,259

'2,183' 4, 183' 1, 893'6,349

89, 41586, 4103,005

'89,599

86 5638,3274,558

10, 56116, 88313 07131, 98724, 822

3,036

' 2, 057'47 603'10 731'29 208

' 1 682'30,588'20 557' 24' 369

25 05924 046

81590

14513635094

116 44313 69621 15128, 53234 64718 417

39 5

'4,50410, 725'9,909' 4, 683' 4, 616

'21,475

'2,032' 4, 499r 2, 347r 6, 744

88,85985,8543,005

'89,623

86,6008,0184,295

10,54416, 93313,00332, 35924, 887

3,023

'2,003'48 185' 10, 733'28 702

' 1, 632' 30, 630'20 705'24 732

19 10923 308

75911513413131366

127 1387 938

13,03342, 79921 19242, 176

40 9

' 4, 63210, 898' 9, 310'4,453'4,58921,256

' 2, 079'4,092' 1, 926'6,536

88,41285, 4452,967

89, 221

86,2067,6573,896

10,68417, 20213,40631, 57024,293

3,015

' 2, 014'48 253' 10, 767'28 187

'1,633'30,246'20 372' 24, 993

22, 84922, 137

74887

10514635159

96 84918 5056,968

39, 16221 80010, 414

38.2

' 4, 49710, 885' 9, 125' 4, 101' 4, 20221,309

' 1, 987'3,648' 1,901'6,542

88,14685, 2582,888

88,270

85, 3227,2353,446

10, 39917, 10513,64231, 24723,891

2,948

'1,996' 48, 301' 10, 454'27 519

' 1, 624'29,935' 20, 481'25,189

24,40722, 072

73484

11414034254

137, 28237, 60820, 83542,26024, 97911,600

33.7

' 4, 405' 10, 976' 9, 431' 4, 271'4,44221, 189

r 1, 986' 4, 018' 1, 744' 6, 627

87, 76584, 8272,938

'87,371

84,4176,8053,125

10, 38417, 05513,65330, 92623, 503

2,954

' 1, 955'48 170' 10, 430'26 816

'1,582'29,625'20 301'25,262

21 79623 249

81784

15516433579

139 3887,770

36, 50466,58921 6556,870

39.4

'4,502'11,141' 8, 551' 4, 110'4,453

'21,582

'2,106' 3, 985' 1, 579' 5, 998

86, 94483,9912,953

'86,487

83,5216,6603,036

10, 43316, 77713, 66030, 43623,256

2,966

' 2, Oil'47 439' 10, 443'26 594

' 1,642'29,318'19 937' 24, 881

22 90121 091

92111315318039481

120 0217 679

13 25846,39930 33322,352

40 1

' 4, 397' 10, 920' 8, 262' 4, 404'4,262

'21,129

'2,026' 3, 425' 1, 381' 5, 984

86,10083,0863,014

'85,322

82, 3376,9733,292

10, 34416, 71413,53029, 27322, 201

2,985

'1,984'46,412' 10, 379'26 547

'1,607'28,228'19 308' 24, 613

23,70621, 876

99213717416741995

131 89821 13717, 97839,95832 97219, 853

43.7

'4,553' 10, 867' 9, 074' 4, 334' 4, 620

'21,691

' 2, 124'4,083' 1, 893'6,302

84, 65381, 6123,041

'84,797

81, 8247,0613,427

10, 55616,58613, 58728, 61921,943

2,973

'1,949'45 812'10,546'26 490

' 1,589'28,054'19 198'24,221

21 95222 401

89110916414538885

147 8889,289

19,30683, 11823, 77412, 401

42 1

' 4, 843'11,215' 8, 438' 4, 748' 4, 657

'21,877

'2, 163' 3, 511' 1,850' 6, 281

83,90280, 9212,981

'84,146

81,2217,1593,527

10,80216, 34413,35028, 35921, 599

2,925

' 1, 899'45 133' 10, 648'26 486

' 1 557'27,468r Ig 917

'24 059

23 42222 276

91214313215739684

170 49816 68021, 22993,48529 2329,872

43.4

'4,753' 10, 915'9,804' 4, 980' 4, 498

'22,161

'2,041' 4, 773'3,067' 6, 411

'84,182'81,205' 2, 977

'84,229

81, 3017,1623,656

10,69916, 17613,46828, 57821,850

2,928

' 1. 827'45,607'10,504'26,291

' 1, 495'28,049' 19, 936'23,742

22, 83122,264

91612612319139878

251,92029, 15529,049

144, 51630,13419,066

46.8

4,72711, 0028,7695,0364,841

21, 747

2,0483,9971,9146,130

83,15180, 2392,912

83,445

80,5337,0573,655

10, 91215,90113, 31728, 14021, 688

2,912

1,84644,86310, 72626 010

1,50727, 77319,75423, 221

91013116015738280

169, 58763, 93115, 16944,03427, 43419, 019

47.4

COMMODITY PRICES

PRICES RECEIVED AND PAID BYFARMERS

Prices received, all farm products* 1910-14=100..Crops9 _ do

Commercial vegetables doCotton doFeed grains and hay _ doFood grains doFruit _ doTobacco _ do

Livestock and products? doDairy products doMeat animals doPoultry and eggs do

Prices paid:All commodities and services do .

Family living items doProduction items do

All commodities and services, interest, taxes, andwage rates (parity index) _ 1910-14=100

Parity ratlog do

261229302192159160316567288318346142

310335292

355

73

275220298173166154252594323331400162

324351304

373

74

277217267173167145254606330325421156

324352304

374

74

275211262164166152244615331342409165

325354304

375

73

277215294183165157228612329351402163

326355305

376

74

282221362180162158221601334355398186

327356306

378

75

284215318169164159216603343354410200

328357307

378

75

287217336161168158207600346351420197

330360309

383

75

289221333171169159215603348344436181

333362312

386

75

289221329175167157217603346336442170

332362311

385

75

281220301180167161203603334334429147

334364313

388

72

282233380187171160228603324329418133

334365312

388

73

281232316189173153261603323323421132

335366313

390

72

286235290191174151276603330331423148

335366313

389

74

276226265191176161246608319339403137

335367312

389

71

281235306185190170273610320350391153

339369317

393

72

'Revised. * Preliminary. 1 Advance estimate; total mfrs. unfilled orders for Aug.1970 do not reflect revisions for selected components. 2 Based on unadjusted data. f Re-vised back to 1961 to reflect; revisions in the mfrs.' sales and inventories series and the retailinventories series. Data for mfrs.' sales, invent., and orders have been revised back to 1961to reflect new seas, factors and the introduction of a small number of other corrections. Re-vised data back to 1961, new seas, factors, and other technical data appear in a special Census

Bureau report entitled Mfrs.' Shipments, Inventories, and Orders: 1961-1970, Series M3-1.2.0 See corresponding note on p. S-6. 9 Includes data for items not shown separately.d* Compiled by Dun & Bradstreet, Inc. (failures data are for 48 States and Dist. Col.).§ Ratio of prices received to prices paid (parity index). J Revisions back to Jan. 1966

are available from the Dept. of Agriculture, Statistical Reporting Service.




1968 1969

Annual

1969


1970


COMMODITY PRICES—Continued

CONSUMER PRICES

(U.S. Department of Labor Indexes)

Unadjusted indexes:All Items 1957-59-100

Special group indexes:All items less shelter doAll items less food doAll items less medical care _ - do

Commodities doNondurables do_

Nondurables less food - -doDurables 9 do

Commodities less food doServices -do...

Services less rent do

Food 9 do. -.Meats, poultry, and fish -doDairy products doFruits and vegetables _ do

Housing _ _ _. doShelter 9 do

Rent doHomeownership _ do

Fuel and utilities 9 doFuel oil and coal doGas and electricity _ _do _ _

Household furnishings and operation... doApparel and upkeep -doTransportation .do

Private . _ _ doNew cars doUsed cars do

Public doHealth and recreation 9 . -do __

Medical care doPersonal care ... _ _ _ _do. __Reading and recreation do

WHOLESALE PRICESd1

(17. S. Department of Labor Indexes)

Spot market prices, basic commodities:22 Commodities.. _ 1957-59 = 100

9 Foodstuffs do _13 Raw industrials.- ___ _.do

All commodities ® _ doBy stage of processing:

Crude materials for further processing doIntermediate materials, supplies, etc doFinished goodsO ... _ _ _ _do_ .

Consumer finished goods doProducer finished goods .... do

By durability of product:Durable goods . _ doNondurable goods __ doTotal manufactures _ do

Durable manufactures doNondurable manufactures _ do

Farm prod., processed foods and feeds do

Farm products 9 _._ doFruits and vegetables, fresh and dried_-doGrains. _ „ doLive poultry doLivestock do

Foods and feeds, processed 9 _ doBeverages and beverage materials doCereal and bakery products doDairy products doFruits and vegetables, processed doMeats, poultry, and fish do

Industrial commodities do

Chemicals and allied products 9 doAgric. chemicals and chem. prod doChemicals, industrial do .Drugs and Pharmaceuticals doFats and oils, inedible _. doPrepared paint. . do

Fuels and related prod., and power 9 doCoal doElectric power Jan. 1958=100_-Gas fuels.. _ doPetroleum products, refined 1957-59=100,.

Furniture and household durables 9 do _ . .Appliances, household __ do ...Furniture, household doHome electronic equipment. _ _do ...

121.2

120.6121.9119.7

115.3118.4117.7107.5113.2134.3138.6

119.3113.7120.6126.8

119.1123.6115.1127.0110.4115.1109.5113.0

120.1119.6117.3100.8

138.2

130.0145.0120.3125.7

195.7192.8197.8

' 108. 8

' 101. 2108.0111.3109.9

' 115. 5

111.8106.5

'109.5' 111. 1

106.9

' 107. 7

102.2' 108. 3

81.984.9

104.8

' 114. 2' 109. 5' 118. 1

127.7' 114. 2

108.3

109.0

98.2'99.6

98.493.373.9

114.6

' 102. 5' 107. 1' 101. 6r 123. 9

100.3

' 103. 9'91.8

' 117. 381.0

127.7

126.3128.6126.1

120.5124.1123.0111.6118.0143.7149.2

125. 5123.2124.5128.4

126.7133.6118.8139.4

112.9117.8111.5117.9

127.1124.2121.3102.4125.3148.9136.6155.0126.2130.5

i 108. 1i 103. 1i 111.8

113.0

107.9111.8115.3114.0119.3

116.6110.3113.3116.6110.1

113.5

108.5111.083.389.8

118.3

119.8112.9120.2131.9115.7119.5

112.7

98.389.897.793.888.7

119.2

104.6116.2102.7124.5101.8

106.193.0

122.378.2

128.7

127.1129.3127.0

121.4125.2123.3111.9118.2145.0150.7

127.4127.9125.0130.2

127.8135.1119.3141.3113.0117.7111.5118.5126.6124.2121.3101.0125.4149.7137.7156.8126.8131.2

110.9105.2115.0

113.4

109.5111.9115.7114.4119.3

116.5111.1113.6116.4111.0

114.6

108.9106.781.992.3

123 6

121.5112.6120.1133.0116.8124.5

112.8

98.788.498.293.899.3

119.2

104.7115.5102.4121.8102.5

106.293.0

123.077.9

129.3

127.6130.0127.6

121.7125.8124.4111.6118.7146.0151.7

127.5129.0125.5126.8128.6136.1119.7142.6

113.3118.1112.0119.0

128.7123.6120.599.5

121.4150.3138.4157. 6127.3131.6

111.6103.6117.4

113.6

108.7112.4116.0114.7119.9

117.1111.1113.9117.0111.0

114.3

108.4103.483.489.0

119.2

121.3113.1120.4133.4116.6122.9

113.2

98.987.498.294.0

102.1119.2

104.7115.9103.5123.0101.8

106.493.0

123.077.9

129.8

128.1130.8128.2

122.4126.1125.1113.2119.8146.5152.3

127.2127.6125.8124.0129.2137.0120.1143.6

113.5118.4112.2119.3

129.8125.7122.8104.2125.8150.3138.6156.9127.3132.0

111.3105.4115.6

114.0

108.7112.8116.5115.1120.8

117.9111.2114.6117.9111.4

114.3

107.9101.384.885.3

118.7

121.6115.0121.2130.7116.0120.2

113.8

98.686.397.694.098.9

120.3

105.4120.6103.7128.7101.6

106.593.1

123.377.9

130.5

128.6131.4128.9

122.9126.7125.5113.5120.2147.2153.1

128.1127.2126.3127.0

129.8137.7120.5144.5114.2118.9113.2119.6

130.7125.6122.7105. 1124.9151.1139.1157 4127.8132.3

111.9106.8115.6

114.7

109.0113.1117.6116.2121.5

118.4111.9114.9118.3111.6

115.7

111.1125.381.786.3

116.6

121.8116.0121.9131.2116.3120.5

114.2

98.986.797.894.2

100.5120.3

105.5123.5103.4128.8101.6

106.993.6

123.677.7

131. 3

129.5131.9129.7

123.6127.7125.7113.6120.3148.3154.3

129.9127.2127.6132.1

130.513S.5121.0145.4

114.6119.2113.7120.0

130.8126.4123.4104.9123. 9153.0139.6158.1128.1132.7

112.3105.6117.2

115.1

109.9113.5118.0116.5122.3

119.0112.4115.3118.8111.9

116.4

111.7112.482.986.9

120.2

122.6116.1122.0133.9116.4121.9

114.6

98.886.797.894.692.8

120.3

106.1124.6103.4131.8102.2

107.293.6

123.677.8

131.8

129.8132.3130.1

123.7127.8125.2113.7120.1149.6155.8

130.7128.8128.4130.9

131.1139.6121.3146.8114.6119.7114.1120.1

129.3127.3123.3104.7120.7165.1140.1159.0128.5133.1

113.8106.2119.4

116.0

110.7114.4118.8117.3122.9

119.6113.4116.1119.4113.0

118.2

112.5116.685.994.8

117.3

125.1117.4122.3133. 9116.9125.8

115.1

99.187.697. 994.595.0

121.7

105.6125.4103.4132.4101.0

107.594.4

124.377.2

132.5

130.3133.0130.8

124.2128.4125.8113.7120.4150.7157.1

131.5129.7128.8132.4132.2140 9121.8148.5114.9120.6114.6120.8130.0127.3123.3104 6117 8165 4140.7160.1129.0133.2

114.3106.6120.0

116.4

113.0114.7118.8117.3123.1

120.0113.9116.4119.7113.2

118.7

113.7117.285.987.1

124.9

125.2118.3123.3134.1117.3124.9

115.5

99.591.497.794.694.3

122.0

106.4131.7103.6135.2101.2

107.994.4

125.177.2

133.2

130.7133.8131.5

124.5128.7126.1114.1120.8152.3158.9

131.6130.2129.4133.1133.6142 8122.3150.9115.6120 8114 8121.6

130.6127 1123 0104 4117 6165 8141 4161 6129 6133 6

114.6108.4119.2

116.6

114.2114.8119.0117.4123.5

120.5113.9116.6120. 1113.2

118.8

114.3118.285.590.8

129.6

124.9118.4123.7133.1116.5127.1

115.8

100.092.097.395.0

102.2122.8

106.3133.4103.6135.0100.8

108.194.7

125.377.2

134.0

131.5134.8132.2

125.2129.3127.0114.8121.6153.4160 1

132.0130.9129 5134. 7134.4143 7122 6152 1

116 3120 9115 7122.0

131 1128 9124 9104 3121 1165 8142 3162* 81°9 8134 4

114.0107.5118.7

116.6

113.4115.3118.6116.8123.7

120.9113.6116. 9120. 5113.4

117.6

111.3112.787.882.8

124.8

124.9118.8124.6135. 1117.5124.9

116.2

100.4

97.9

107.5145.9103.7136.2101.3

108.394.8

125.677.0

134.6

132.1135.5132.9

125.8129.8127.5115.9122.3154. 1161.0

132.4130.5129.9136.8135.1144.7123.0153.3

116.4121.0115.8122.5

131.9129.9125.9104. 1127. 5166.6

142.9163.6130.3135.2

112.7105. 4118. 0

116.8

112.8115. 7118.7117. 0124.0

121.3113. 6

113. 4

117.0

111.0123. 588.483. 7

122. 2

124. 1120. 3124.6135. 4118. 1122. 5

116.6

100.6

98.2Qd. 7

109.1146.9104.2136.1104.2

108.394.9

125.977.0

135.2

132.6136.1133.4

126.2130.0127.7116.7122.8155.0161.9

132.7130.2130.2139.4

135.6145 6123.4154.4

116.2121 2115 3122.8132.2130 6126 7103 8132 0167 8

143 7164 7130 2136 1

111.5106.2115.3

117.0

113.0115.9119.0117.3124.2

121.5113.8117.4121.3113.6

117.5

111.3122.289.277.9

123.0

124.8120.3124.6135.4118.5123.7

116.7

100.591.898.094.8

108. 1122.8

108.6152.8104.3136.3102.2

108.694.9

126.077.0

135.7

133.0136.6133.9

126.5130.4127.8116.9122. 9155.8162 8

133.4130.8130.6137.5136.2146 2123.8155.0

117.2122 3115 7123.0

131.4131 4127 2103 7131 8170 8144 3165 8130 6136 6

110.6107. 6112. 8

117.7

113.8116.4119. 7118. 0124.6

121.6114. 8

121. 5114. 5

119.3

113.1112. 689.281. 9

126.2

126.6120.4125.8135. 7118.9126. 3

116.9

100.991. 098.895. 0

107. 7122. 8

108.9155.5104.8137.0102.4

108.894.9

126.377.2

136.0

133.2136.9134.2

126.6130.5127.8117.0123.0156.7163 8

133.5131.0130 8135.0

137.0147 2124 2156 2117.7122 9116 4123.2

131 5130 6126 4103 5199 2171 0

145 1166 8131 3137 1

110.6109.2111.6

117.2

110.9116.6119. 1117. 2124. 9

121.7113.9118.0121.6114.4

117.0

108.299. 689.277.5

118.6

126.1121.1126. 5136.2119.6122.5

117.1

101.191.698.695.5

112.0122.8

109.6157.8105. 5137. 2103.1

108.995.1

126.677.2

109.8108.2110.9

117.8

112.5116.8119. 9118. 1125.3

121.9114.8118. 2121.8114.6

118.5

111.8113.4100.581.7

114. 9

126.2121. 5127. 9135.8120. 1120.9

117.4

100.992.298.794.8

104.0122.8

111.0165.3106.1142. 9103.8

109.095.0

126. 577.2

'Revised. *> Preliminary. i Computed by OBE. 9 Includes data for items notshown separately. cf For actual wholesale prices of individual commodities, see respective

commodities. 0Monthly data corresponding to revised annuals for 1968 will be availablelater. O Goods to users, incl. raw foods and fuels.




1968 1969

Annual

1969


1970


COMMODITY PRICES—Continued

WHOLESALE PRICESd*— Continued(U.S. Department of Labor Indexes— Continued)

All commodities®— ContinuedIndustrial commodities— Continued

Hides, skins, and leather products 91957-59=100..

Footwear doHides and skins do _Leather do

Lumber and wood products doI/umber do _

Machinery and equipment 9 do _Agricultural machinery and equip doConstruction machinery and equip doElectrical machinery and equip doMetalworking machinery and equip do

Metals and metal products 9 doHeating equipment do._.Iron and steel doNonferrous metals do _ _

Nonmetallic mineral products 9 doClay prod., structural, excl. refractories

doConcrete products doGypsum products _ do

Pulp, paper, and allied products doPaper do

Rubber and plastics products § . __doTires and tubes _ _ do_. .

Textile products and apparel 9 . doApparel..- _ _ ...do. .Cotton products . ... doManmade fiber textile products doSilk yarns _ _ ._doWool products do

Transportation equipment 9 _ ..Dec. 1968 = 100..Motor vehicles and equip 1957-59-100..

Miscellaneous products 9 doToys, sporting goods, etc doTobacco products do

PURCHASING POWER OP THE DOLLAR

As measured by-Wholesale prices 1957-59-$!. 00Consumer prices do

119.5128.0'99.9112.6

'119.4' 127. 3

'115.4' 127. 2' 130. 2' 103. 1' 128. 7

112.4'95.2

' 105. 6' 125. 1

' 108. 2

'113.3108.1

' 106. 5'104.9' 112 2' 100. 2'98.7

' 105. 8' 110. 6' 105. 2

90.8183.0103.7

""'" 105.1'111.7

108.3115.2

r $0 919.825

125.8133.2116.9119.9132.0142.6

119.0132.8135.5104.8133.4

118.997.6

111.0137.4

112.8

117.0112.2106.4108.2116.6102.198.2

108.0114.5105.292.2

169.7104.6

100.7107.0114.7111.3120.8

$0. 885.783

126.4132.7123.1121.0124.0131.1

119.1132.3134.9104.7133. 5

120.497.7

112.7139.5

113.0

117.0112.4103.2108.7117 2103.099.2

108.7115.8105.792.7

177.1104.8

99.9106.0115.9111 8123.5

$0 882.777

128.2134.9128.7121.7123.2129.5

119.9133.0136.1105.4134.4

121.798.0

113.2143.5

113.5

117.5113.2106.1108.8116 5102.799.2

109.0116.2105.992.1

181.2105.0

100.0106.1116.4112 1123.8

$0. 880.774

127.4135.2118.0120.3122.6128.0

120.5133.2137.7105.6135.4

122.498.7

113.7144.8

113.8

117.8113.5105.9109.0116 5103.5100.6

109.1116.5105.891.6

183.9104.5

102.3108.7116.7112.3123.8

$0. 877.770

126.8135.5110.4119.6123.9129.3

121.0135.8138.6106.0136.5

122.999.3

113.7146.4

113.9

118.5113.6109.8109.3117.0104.4101.7

109.2116.7106.091.5

184.6104.6

102.7109.0117.0112.8124.0

$0. 872.767

126.5135.0108.9119. 7122.5128.2

121.9136.4139.8106.2138.0

123.899. 7

113.9150.1

114.5

118.5114.2104. 3109. 5117 4104.5101.7

109. 2116.9106.191.1

191. 1104.3

102.7109.0117.0112.7124.0

$0. 869.762

126.6135.9102.8119.6121.6126. 9

122.5136.7140.2106.8138.6

124.999.7

114.6152.8

116.5

119.4115.9107.3111.1120.3104.7101.7

109.5117.2106.191.5

193.5104.3

102.9109.1117.4114.1124.0

$0. 862.759

126.7136.9101.1117.3120.2124.1

122.8137.2140.3106.9139.3

126.199.9

117.0152.8

116.9

119.4116.4108.3111.8121 5104^6101.7

109.4117.5106. 191 0

196 3104 3

102.9109.1117 5114 2124 0

$0. 859.755

126.8136.999.4

118.2119.5123.3

123.1137.1140.6107.2139.8

127.0100.5117.7153.4

117.3

119.8117.0107.0112.1121 6104.4101.7

109.5117.9105.890.4

194. 2104.4

103.2109.4117.8115.3124.1

$0. 858.751

128.5138.4106.6120.4120.1123.5

123.4137.3140.8107.3140.3

127.8101.3117.3157.1

117.8

120.9117.2105.6112.5121 6104.2101.7

109.3117.9105.889.9

201.3104.0

103.1109.3117.8115.0124.1

$0. 858.746

127.9137.8101.8120 4121.0124.3

123.7137.4140.9107.5141 3

128.7101.7118.9157.2

117.9

121.2117.4104.0112.3121 6104.2101.7

109.3118.0105.889.5

204.8103.8

103.2109. 4118.2115.1124.1

$0. 856.743

127.3137.993.8

119. 8120. 2123. 0

124.1137.1141.0108. 2141. 7

129. 1102.4120.2155.0

117.9

121.2118.1100.7112. 2121 7104.1101.7

109.3118.4105.989.0

199.5102.8

103.3109. 5121. 0115.8132.3

$0. 855.740

127.1137.990.8

119.8119.6121.8

124.7137.4141.2108.6142.2

129.0103.3120.4152.6

118.1

121.3118.3100.7112.5121.9105.6107.5

109.2118.4105.888.4

201.0102.6

103.2109.4121.4115.9131.7

$0. 850.737

127.1137 992 8

118 9120 2123 0

124 8137.6141.6108 8141 5

128 8103.4120 3151. 1

118 5

121.3118 9104.7112. 3122 5106.3107.5

109. 5119. 0106.388.0

201.0102.4

103.3109. 5121.5116 2131.8

$0. 853.735

127.3138.893.8

116 8120.4124.1

125.3138.4142.2109. 4141 5

128.7103.8120. 9148.4

118.7

122.0119. 799. 2

112.4122 6106.0107.5

109.6119.6106.487.1

193. 2102 0

103.6109. 7121.9116 4132 1

$0 849

CONSTRUCTION AND REAL ESTATE

CONSTRUCTION PUT IN PLACE

New construction (unadjusted), total mil. $

Private, total 9 doResidential (nonfarm) do

New housing units _ do

Nonresidential buildings, except farm and pub-lic utilities, total 9 mil. $

Industrial.. _ _ _ doCommercial _ do

Public utilities:Telephone and telegraph do

Public, total 9 do

Buildings (excluding military) 9 doHousing and redevelopment . . doIndustrial.. do

Military facilities doHighways and streets do

New construction (seasonally adjusted at annualrates), total bil. $

Private, total 9 do

Residential (nonfarm) . doNonresidential buildings, except farm and pub-

lic utilities, total 9 bil. $_.Industrial _ _ doCommercial do

Public utilities:Telephone and telegraph. . _ do

Public, total 9.— do

Buildings (excluding military) 9 doHousing and redevelopment doIndustrial.. do

Military facilities.. doHighways and streets do

84, 690

56 99628 82322, 423

18, 8005 5948,333

1,704

27 694

10 445746517

8249 295

90 866

62 80630 60323 689

22, 0336 373

10, 136

2,172

28 060

11 2261,047

512

9459 276

8 514

5 8422 8802, 186

2,013558936

190

2 672

9407344

831 064

89 9

62 4

29 3

22. 76 4

10 3

27 5

11 0.869

8.9

8,600

5 9192 7632,124

2,200621

1,033

204

2,681

9708937

951 023

91 1

63 7

29 2

23.86 7

11 1

27 4

10 6949

9.3

8,198

5 7962 6362 082

2,169613

1,025

222

2 402

8688242

88892

90 7

63 6

29 3

23.76 9

10 9

27 1

10 51 0

59

9.3

7,867

5 4832 4821 984

2,076569982

200

2 384

9219536

76822

88 8

61 8

28 8

22.86 6

10 2

27 o

10 5948

9.6

6,963

5 1112 2881 797

1 942575889

226

1 852

7808041

73600

89 8

61 9

28 9

22.66 4

10 3

27 9

10 71 0

59

10.3

6,091

4 3171 9611, 495

1,623438750

155

1,774

8007841

61483

90 8

62 7

28 7

23.36 4

11 0

28 1

10 8l' l

59

HX5

5,897

4 1131 7651,300

1,627415763

174

1 784

8017535

54500

92 0

63 3

28 7

24.06 0

11 7

28 6

10 91 i

59

11.1

6,513

4 5681 9871,454

1,769458841

218

1 945

83411836

53581

90 7

64 0

29 4

23.85 9

11 8

26 7

10 71 2

47

'9.3

7,058

4 9422 2301,636

1,824501840

234

2 116

8778245

56677

90 0

62 8

29 0

22.76 2

10 6

27 3

10 71 3

57

'9.4

7,630

5 2252 4051,743

1,891c 498

890

235

2 405

87589

r48

72904

88 5

61 7

28 2

22.45 9

10 6

26 8

' 10 51 2

49

'9.5

' 8, 244

' 5 588' 2 634r 1, 876

1,948521925

271

2 656

953104'47

75986

r 90 2

' 62 1

r28 1

22.75 9

10 9

r 28 1

58

r 8, 468

T 5 742r 2 811r 1, 988

r 1, 898r 519' 874

275

'2 726

8938724

541 144

r 90.5

' 62 2

'28 6

21.9' 5 9

r 10 0

T 98 2

46

8,625

5 9112 9282,068

1, 953575862

2 714

40

91 5

63 0

29 6

22.16 69 5

28 5

5

' Revised. » Preliminary.o"See corresponding note on p. S-8. ©See corresponding note on p. S-8.

data for items not shown separately.9 Includes

§ Beginning Jan. 1970, retitled to read "rubber and plastics products" to cover the directpricing of plastic construction products; continuity of the group index is not affected.

404-263 O - 70 - S2Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1968 | 1969

Annual

1969


1970


CONSTRUCTION AND REAL ESTATE—Continued

CONSTRUCTION CONTRACTS

Construction contracts in 48 States (F. W. DodgeDivision, McGraw-Hill):

Valuation total mil. $_-

Index (mo. data seas, adj.) 1957-59=100..

Public ownership mil. $_.Private ownership doBy type of building:

Nonresidential _- -- - - - -do _ _Residential do

Non-building construction doNew construction planning

(Engineering News-Record) O do

HOUSING STARTS AND PERMITS

New housing units started:Unadjusted:

Total (private and public) . thous .Inside SMSA's - do

Privately owned doOne-family structures do_

Seasonally adjusted at annual rates:Total privately owned do

One-family structures do..

New private housing units authorized by buildingpermits (13,000 permit-issuing places) :

Seasonally adjusted at annual rates:Total thous .

One-family structures _ do

Manufacturers' shipments of mobile homes:*Unadjusted doSeasonally adjusted at annual rates do

CONSTRUCTION COST INDEXES

Dept of Commerce composite 1957-59—100

American Appraisal Co., The:Average 30 cities 1913 — 100

Atlanta doNew York doSan Francisco doSt. Louis do .

Associated General Contractors of America. Inc.,The (building only) 1957-59= 100_.

Boeckh indexes:Average, 20 cities:

Apartments hotels office buildings 1957-59—100Commercial and factory buildings doResidences do

Engineering News-Record:Building ._ _ _doConstruction do

Federal Highway Adm.— Highway construction:Composite (avg for year or otr ) 1957 59 100

CONSTRUCTION MATERIALS

Output index: tComposite, unadjusted 9 1947-49—100

Seasonally adjusted do

Iron and steel products unadjusted doLumber and wood products unadj doPortland cement unadjusted do

REAL ESTATE

Mortgage applications for new home construction:FHA net applications^: thous. units

Seasonally adjusted annual ratesj doRequests for VA appraisals _. do

Seasonally adjusted annual ratesj do

Home mortgages insured or guaranteed by-Fed. Hous. Adm.: Face amount mil. $Vet Adm * Face amount§ • do

Federal Home Loan Banks, outstanding advancesto member institutions end of period mil $

New mortgage loans of all savings and loan associa-tions, estimated total mil $

By purpose of loan:1 1 ome construction doHome purchase doAll other purposes do

Foreclosures number

Fire losses (on bldgs contents etc ) mil $

* 61, 7322173

i 19, 597i 42, 135

i 22, 513i 24, 838i 14, 382

52, 419

1,545.51,116.1

1 507 7899.5

1,353695

318.0

131

9701,0721,070

966953

139

139.9139 1136 7

136.8151.9

121 6

166.0

171 1168.2198 1

166.8

131.7

6, 495. 943 773 88

5 259

21, 983

4,91611, 2155 852

110, 404

i 829 92

67, 827

193

22, 85844, 969

26, 08525, 59016, 152

57, 164

1,499.91,096.8

1, 466. 8810.6

1,300617

412.7

142

1,0501,1581,1161,0541,021

150

151.8149.1148.0

149.9167.2

132.3

166.0

167.8164.5204.2

184.9

138.2

7, 120. 634, 073. 86

9,289

21, 832

4,75611, 2445,832

95, 856

1,952 02

6,523

216

2,6053,918

2,4602,3941,669

4,167

127.691.4

124.969.5

1,384723

1,245570

38.1408

143

1,0611,1761,1051,0621,035

153

154.5151 0150.4

151.6170.0

170.2154.7

169.0156.6257.2

14.4169

13.0152

630. 40384 56

7,544

1,918

3931,089

436

7,362

172 14

5,140

173

1,7193,420

2,0131,9521,175

3,858

132.993.9

129.371.5

1,481828

1,201565

40.1417

143

1 0651,1791,1061 0631,054

153

154 4151 0149 8

151.0169.1

136 3

172.2165.0

166.3166.8259.9

16.5193

11.1128

714. 28363 55

7,940

1,728

377936415

7,812

154. 89

6,240

195

1,6264,615

2,5022,2901,449

7,124

125.891.2

123.468.0

1,390766

1,183574

43.4454

143

1,0691,1771,1331,0631,053

153

155.1152. 1149.3

151.3171.0

181.0159.7

176.1178.6260.7

19.8224

11.4127

712. 12397.44

8,439

1,698

365862471

8,468

156. 54

4,406

178

1,4272,980

1,5661,6751,165

6,878

97.468.194.655.1

1,280762

1,191596

32.7452

144

1,0731,1781,1361,0661,054

153

156.0152.5150.1

151.9171.7

147.6154.4

153.0147.2184.2

14.6230

11.5177

560. 12328. 54

8,802

1,330

286652392

7,249

146. 32

5,228

218

1,7273,501

2,1681,7441,317

5,486

85.363.784.142.8

1,402776

1,239639

27.2403

145

1,0761,1781,1361,0611,054

154

156.4153.2151.0

152.2'171.7

138 7

147.0171.1

158. 7149.9155.4

14.9210

10.1147

595. 83317. 14

9,289

1,508

300687521

8,337

179. 43

4,928

205

1,4333,495

2,2521,4751,201

5,655

69.252.066.4

'33.4

1,059577

1,013469

23.7383

'146

1,0821,2101,1691,0611,060

155

156.7154.2151.6

152.2172.2

136.7145.5

140.2151.0101.7

16.52519.4141

610. 47310. 21

9,852

1,064

220530314

' 7, 704

184. 03

5,249

215

1,6523,597

2,2691,4821,498

4,092

77.055.374.341.4

1,306725

1,137562

'23.9'340

146

1,0841,2141,1711,0601,065

155

157.1154.5152.1

152.0172.5

142.9161.5

158 9146.6120.8

20.0250

10.7142

501. 86235 24

9,937

1,042

223502317

r 7, 137

206. 89

6,140

208

2,0694,071

2,1911,9741,975

4,989

117.887.5

114.7'61.9

1,392708

1,099552

29.3344

146

1,0851,2211,1721,0611,066

156

158.0155 5152.3

152.2173.0

137 2

161.1166 6

175 4163.4153.9

26.5258

13.5142

581. 88257 74

9 745

1,262

284585393

'8 383

196 68

6,757

203

1,7914,966

2,4132,4661,878

5,857

130.291.3

128.473.8

1,224697

1,263603

39.6442

146

1,0971,2311,1781,0621,072

157

158.3155.7152.6

154.2174.9

162.9159.8

162.7169.8196.9

27.7282

12.8134

561. 43232. 58

9,860

1,400

325627448

8,491

188. 47

5,417

170

1,6953,722

1,7502,1231,545

6,457

127.388.4

125.074.8

1,242728

1,321602

32.6377

'148

1,1171,2311,1781,0621,138

159

159.4157.7153.3

156.4177.0

180 7163.8217.6

24.9269

12.2131

527. 06237 52

10 008

1,586

373741472

8,639

186 94

6,553

186

2,8153,738

1,9192,2242,410

4,916

141.692.4

135.283.0

1,393835

1, 306613

35.4366

150

1,1271,2311,1771,0581,137

164

159.8157 9153.6

157.5180.1

142 4

191 1162. 5237 5

27.7290

11.5125

696. 27262 66

10 236

2,086

3981,017'671

9 084

177 67

6,178

180

2,3133,865

2,4692,3471,361

5,248

' 143. 4102.6

' 140 8' 75.5

' 1, 603'827

1,275619

36.8432

' 153

1,150

168

163.8161.9157.5

160.9186.0

26.6294

12.7127

705. 61297. 73

plO 373

' 2, 080

'393' 1, 071

' 616

177. 85

6,230

212

2,0784 151

2,3312 3491,549

4,829

' 130 293.5

' 127 4' 76 5

' 1 412' 830

r 1, 326'663

38.1407

153

1,158

171

164.1162 1157.8

161.4186.6

27.9319

'13.2' 153

751.81306. 24

plO 446

2,110

3681,151

591

200. 93

4,303

133 4

130 872 2

1 504884

1,368680

172

2 162. 72 187. 2

29.4338

v 12.0P137

788. 61

' Revised. p Preliminary. 1 Annual total reflects revisions not distributed to months.2 Computed from cumulative valuation total. 3 Index as of Oct. 1, 1970: Building, 163.6;construction, 188.9. O Data for Oct. 1969 and Jan., Apr., and July 1970 are for 5 weeks;other months, 4 weeks. *New series. Data from Mobile Home Manufacturers' Association;seasonally adjusted annual rates calculated by Bu. of the Census. Available earlier data will

be shown later.{Revisions for 1961-68 for FHA applications and for 1961-Feb. 1969 for requests for VA

appraisals (seas. adj. annual rates) will be shown later. Revisions for 1964-68 for constructionmaterials output indexes appear in the Dec. 1969 issue of Construction Review (BDSA).

9 Includes data for items not shown separately. § Data include guaranteed direct loans sold.


October 1970 SURVEY OF CURRENT BUSINESS S-ll


1968 | 1969

Annual

1969


1970


DOMESTIC TRADE

ADVERTISING

Television advertising:Network (major national networks) :

Net time costs total mU $Automotive ,'incl. accessories.. doDrugs and toiletries doFoods soft drinks confectionery doSoaps cleansers etc do _Smoking materials - doAll other do

Magazine advertising (general and natl. farm maga-zines):

Cost total - mil. $..Apparel and accessories doAutomotive incl accessories -doBuilding materials _ _-doDrugs and toiletries . doFoods, soft drinks, confectionery do

Beer, wine, liquors doHousehold equip., supplies, furnishings. .doIndustrial materials doSoaps, cleansers, etc doSmoking materials doAllother do

Newspaper advertising linage (52 cities): ©Total ..mil. lines..

Classified .- doDisplay total __do

Automotive - doFinancial do __General doBetail do

WHOLESALE TRADE

Merchant wholesalers sales (unadj.), total, mil. $_.Durable goods establishments. _ _ do _Nondurable goods establishments... do __

Merchant wholesalers inventories, book value,end of year or month (unadj.), total mil. $__

Durable goods establishments. _. __ _ _ do. __Nondurable goods establishments do -

RETAIL TRADE

All retail stores:Estimated sales (unadj.), total.. mil. $__

Durable goods stores 9 - do. __Automotive group _ do _

Passenger car, other auto, dealers do ...Tire, battery, accessory dealers do

Furniture and appliance group 9 doFurniture, homefurnishings stores doHousehold appliance, TV, radio do

Lumber, building, hardware group doLumber, bldg. materials dealers d* doHardware stores do

Nondurable goods stores 9 doApparel group do

Men's and boys' wear stores doWomen's apparel, accessory stores.. .do ...Shoe stores do

Drug and proprietary stores doEating and drinking places doFood group do

Grocery stores do__Gasoline service stations do

General merchandise group with non-stores 9 .mil. $ .

General merchandise group without non-stores9§ .mil. $ _Department stores do

Mail order houses (dept. store mdse).doVariety stores. _ do

Liquor stores. ._ doEstimated sales (seas, adj.), total do

Durable goods stores 9 doAutomotive group do

Passenger car, other auto, dealers doTire, battery, accessory dealers _ do

Furniture and appliance group 9 do __Furniture, homefurnishings stores doHousehold appliance, TV, radio ...do

Lumber, building, hardware group doLumber, bldg. materials dealersc? doHardware stores . do

1,550.0125.9437.0293.3144.9156.8392.1

1, 196. 163.5

112.632.3

144.4106.3

95.675.756.722.243.2

443.6

3, 381. 1923.7

2, 457. 3171.072.8

296.11, 917. 4

219, 943100, 012119,930

22, 48713, 2459,242

"339,324110, 24565, 26160, 6604,601

16, 54010, 2275,235

10, 984

«229, 07919, 2654,5167,4293,196

11,45825, 285

"72, 881"67, 92524, 526

54, 493

49, 29533, 3233,2566,1526,969

1, 698. 8135.1496.8314.4157.5175.0420.0

1,245.360.6

114.426.5

158.7101.5

101.876.560.015.748.2

481.4

3, 575. 11, 017. 12, 558. 0

173.381.7

300.12, 003. 0

236, 708109,578127, 130

24, 36514,3769,989

351, 633112, 77966,91162,0484,863

16, 71910,4395,223

14, 56211,2783,284

238,85420, 1584,7617,6063,505

11,86325,84975,86670, 95525, 116

58,615

53,08336,4113,5196,5487,403

73.46.14.41.4

11.35.8

4.73.24.9

.83.5

27.3

294.392.2

202.014.04.6

18.2165.3

20,0369,294

10,742

23,49514,2629,233

29,4248,9485,0984,687

411

1,360864417

1,3121,033

27920,4761,679

360605337

9922,4306,6666,2342,210

4,938

4,4793,064

270546639

29,3469,1615,4125,013

399

1,352841424

1,185905280

343.821.3

103.166.439.435.078.6

113.49.49.02.7

14.68.2

7.47.06.01.14.3

43.6

293.986.1

207.816.76.1

25.1159.9

20,6389,575

11,063

23,66914,1389,531

28,5839,3645,4815,103

378

1,401855441

1,2791,018

26119,2191,642

354626328

9692,1996,1255,7122,060

4,669

4,1862,877

274492577

29,2599,3845,6655,272

393

1,364847417

1,190925265

133.36.2

17.12.8

14.69.4

11.310.25.61.44.3

50.5

326.389.0

237.314.77.3

30.6184.8

21, 93510, 13711, 799

24, 22914,3219,909

30,64510, 0556,0885,673

415

1,434889446

1,3091,037

27220, 5901,747

403672307

9862,2556,5936,1682,119

5,107

4,5833,126

338538611

29,6209,3545,6385,238

400

1,358825436

1,173906267

133.95.6

13.21.6

15.811.3

12.88.96.01.54.9

52.3

339.683.4

256.213.75.9

31.7204.9

19,7208,89210,828

24,28814,27310,015

29,8399,1075,3784,968

410

1,436891456

1,142879263

20,7321,782

446666300

9662,1216,3315,9222,053

5,649

5,1283,515

408590639

29,4719,2295,5655,170

395

1,332838423

1,168909259

537.650.6

157.689.938.454.2

147.0

106.73.96.61.0

15.48.1

16.64.73.7.9

5.040.9

307.266.9

240.39.87.0

21.7201.7

20,7039,040

11,664

24,36514,3769,989

35,9639,7995,0724,613

459

1,8471,046

6321,186

818368

26,1642,838

7451,025

444

1,3472,1206,8006,3512,131

8,636

8,0635,572

5071,088

87529,4199,2755,4535,086

367

1,399855439

1,180916264

69.91.85.4.8

9.15.0

3.63.13.1.9

3.933.5

247.672.9

174.710.39.6

17.8137.0

18, 8138,328

10, 485

24, 53714, 43210, 105

27, 0517,8104,6644,325

339

1,327792428871672199

19, 2411,412

368524239

1,0182,0266,8166,4072,079

3,969

3,5462,409

234414613

29,5708,8865,1144,701

413

1,457885465

1,143897246

88.73.57.81.4

12.48.3

5.23,63.7.8

4.537.4

241.470.2

171.311.55.8

20.7133.2

18, 5058,393

10, 112

24,74614,62210, 125

25,4377,8744,7964,489

307

1,217752370896712184

17,5631,241

292483214

9501,9456,0405,6491,917

3,719

3,2802,181

256409537

29,9809,1435,3254,901

424

1,422892426

1,205949256

0)0)(00)0)(l)0)

109.86.2

10.72.4

13.49.3

7.85.63.51.94.6

44.5

289.080.2

208.813.16.8

23.8165. 2

20,5929,37011,221

24,90714,81710,090

28, 7158,9185,4565, 083

373

1,290802388

1,031828203

19, 7971,587

331586319

1,0222,1416,4385,9962,128

4,614

4,1522,788

312528587

29,8019,1345,3504,921

429

1,418868426

1,168927241

112.16.59.92.6

14.38.5

8.17.24.41.75.2

43.8

303.881.8

222.015.37.1

27.1172.5

20,3339,37110,962

25,01014,97410,036

29, 6549,5355,7935,351

442

1,317826402

1,186933253

20, 1191,530

336588272

9892,2296,4976,0512,178

4,739

4,2752,930

290509615

30, 5369,3405,4695,029

440

1,454877469

1,158914244

121.24.1

11.13.1

15.19.7

9.19.75.11.95.6

46.6

313.487.4

226.016.95.1

26.8177.2

20, 2479,294

10, 953

24, 93814, 92110, 017

31, 3269,8335,8595,400

459

1,355860410

1,288988300

21, 4931,634

373618291

1,0402,4527,0256,5572,298

5,007

4,5303,067

286584671

30, 5029,3205,3494,909

440

1,435876461

1,217936281

101.02.09.01.7

15.28.4

10.05.84.81.45.3

37.5

284.379.9

204.415.76.8

21.6160.3

21, 29110, 02011,271

25, 08215, 0889,994

31, 41510, 4186,2725,798

474

1,407884437

1,3781,063

31520, 9971,618

377610296

1,0292,4746,7816,3192,344

4,930

4,4523,056

266549652

30, 5189,4115,4835,068

415

1,413857452

1,216924292

70.71.15.9.8

11.57.6

6.34.22.81.04.5

25.0

266.578.0

188.514.06.5

17.1151.0

r 20,972' 9,699

' 11,272

' 25,092' 15,135' 9,957

' 31,143' 9,959' 5,860r 5,389

'471

' 1,395'854'450

r 1,381r 1,079

'302T 21 184' 1,500

'344' 566

263

' 1,031' 2,554'7,112' 6,639' 2,414

' 4,790

' 4,323' 2,919' 278'532'697

30,729' 9,487' 5,544' 5,113

'431

' 1,395'848'4431,221'931'290

71.04.74.91.2

10.55.5

4.33.33.01.05.7

26.9

285.483.7

201.713.24.0

17.3167.2

20, 5059,363

11, 142

25, 34915, 31010, 038

30, 3149,1785,1504,714

436

1,387877418

1,3581,076

28221, 1361,625

333608318

1,0332,5816, 8296,3582,317

5,052

4,5623,075

298565691

30, 6909,4505,4925,063

429

1,394858433

1,230949281

102.67.87.12.0

13.46.5

7.06.63.91.26.2

40.9

' Revised. 1 Series discontinued by source effective with 4th qtr. 1969 data. ° Monthlyrevisions for Jan.-Nov. 1968 (unadj. and seas. adj. data) appear in the Census Bureau MouthyRetail Trade Report, Dec. 1969 issue.0 Source: Media Records, Inc., 52-City Newspaper Advertising Trend Chart. 9 In-

cludes data for items not shown separately.cfComprises lumber yards, building materials dealers, and paint, plumbing, and electrical

stores. § Except department stores mail order.




1968 1969

Annual

1969

Aug. Sept. 1 Oct. Nov. Dec.

1970


DOMESTIC TRADE—Continued

RETAIL TRADE— Continued

All retail stores— ContinuedEstimated sales (seas, adj.)— Continued

N endurable goods stores 9 mil. $Apparel group do

Mien's and boys' wear stores doWomen's apparel accessory stores doShoe stores - do

Eating and drinking places - doFood group do_ _

Grocery stores doGasoline service stations do

General merchandise group with non-stores 9 mil. $

General merchandise group without non-stores 9 § mil. $Department stores do

IVtail order houses (dept store mdsc )doVariety stores do

Liquor stores do

Estimated inventories, end of year or month : fBook value (unadjusted), total } mil. $._

Durable goods stores 9 doAutomotive group doFurniture and appliance group doLumber building hardware group do

Nondurable goods stores 9 doApparel group doFood group doGeneral merchandise group with non-

stores mil. $Department stores do

Book value (seas adj ) total J doDurable goods stores 9 do

Automotive group _ doFurniture and appliance group doLumber, building hardware group do _

Nondurable goods stores 9 doApparel group doFood group doGeneral merchandise group with non-

stores .mil. $„Department stores do

Firms with 11 or more stores:Estimated sales (unadj.), total 9 - do ._

Apparel group 9 doMen's and boys' wear stores _ do _.Women's apparel, accessory stores doShoe stores _ - do. __

Drug and proprietary stores doEating and drinking places doFurniture and appliance group do

General merchandise group with non-stores 9 mil $

General merchandise group without non-stores § mil $

Dept stores excl mail order sales doVariety stores do

Grocery stores doTire, battery, accessory dealers do

Estimated sales (seas adj ), total 9 do

Apparel group 9 doMen's and boys' wear stores doWomen's apparel, accessory stores doShoe stores do

Drug and proprietary stores doEating and drinking places do

General merchandise group with non-stores 9 mil $

General merchandise group without non-stores! mil $

Dept. stores, excl. mail order sales doVariety stores do

Grocery stores. doTire, battery, accessory dealers do . .

All retail stores, accounts receivable, end of yr. or mo.:Total (unadjusted) mil $

Durable goods stores doNondurable goods stores do

Charge accounts doInstallment accounts do

Total (seasonally adjusted) doDurable goods stores doNondurable goods stores do

Charge accounts. _ doInstallment accounts. ... do

' 40, 601

18, 4128,6532, 9892, 621

22, 1894, 0504, 393

8,3144, 886

' 41, 60418,8518, 7763, 0662, 705

22, 7534,2144, 375

8, 8495,187

" 94, 194

5,186767

1,8371,3353,3732,1221,303

38, 395

35, 70826, 1844,821

0 34, 2951,736

20,6307,140

13, 4908,677

11, 953

19, 3786,941

12, 4378,317

11,061

' 43, 53519, 5279, 4243,1222, 546

24, 0084, 4264, 691

9,1865,348

' 44, 62319, 9809, 5583, 1992, 627

24, 6434, 6064,672

9,7775,677

103,070

5,921905

2,0901,5983,7772,4871,354

41,997

39, 22228, 9345,232

37, 1631,816

21, 4907,174

14,3168,648

12, 842

20, 1406,976

13, 1648,280

11, 860

20,1851,738

400653332

1,0132,1506,4296,0062,075

5,000

4,5243,117

285554640

' 42, 14118, 0987,8133.0882,665

24, 0434, 6854, 497

9, 4345,518

'43,53519, 3999, 1843, 0942, 703

24, 1364, 5934,584

9, 4665,546

8,786

50365

176149328224115

3,532

3,3152,471

432

3,244147

8,718

51978

181150337215

3,553

3,3382,493

439

3,146146

19, 6347,122

12, 5128,228

11, 406

19, 8496,988

12, 8618,240

11,609

19,8751,676

388645316

1,0192,1736,3265,9072,089

4,864

4,3622,988

281526617

' 43, 37018, 5698,3383,1082, 639

24, 8014,8164,550

9, 9085, 803

' 43, 89719, 6339,4753,0862, 654

24, 2644,5434, 591

9, 5075,564

8,274

50570

178155315229113

3,320

3,0842,292

390

2,955134

8,578

51480

182150341226

3,432

3,1992,360

418

3,120143

19, 7347,134

12,6008,260

11,474

19, 9967,026

12, 9708,299

11, 697

20, 2661,719

401652314

1,0072,2196,4506,0352,090

5,000

4,4863,065

302553618

' 44, 88219, 0758,7133, 1972, 616

25, 8074, 8604,664

10, 6276, 269

^44,41120, 044

9, 7683,1162, 656

24, 3674, 4964,564

9, 5945,607

9,041

53185

192139318231115

3,636

3,3792,478

429

3,303159

8,822

51479

183142332228

3,559

3,3162,432

440

3,197158

19,8537,159

12, 6948,326

11,527

19, 9967,002

12, 9948,198

11, 798

20,2421,677

406627305

1,0042,2336,4296,0122,078

4,987

4,4753,083

294550614

' 46, 01419, 5989, 1143, 2982,606

26, 4164, 9754,762

10, 8346,435

' 44, 26819, 8359, 5633,1442, 611

24, 4334,5604, 597

9, 6455,635

9,258

556110191144320208112

4,045

3,7832,786

477

3,148146

8,739

51593

177147326216

3,519

3,2642,406

437

3,199142

20, 1437,082

13, 0618, 312

11, 831

20, 0877,055

13, 0328,190

11,897

20, 1441,681

397603335

1,0002,1376,4366,0262,097

4,998

4,5543,113

310553594

'43,53519, 5279, 4243,1222,546

24, 0084, 4264,691

9, 1865,348

' 44, 62319, 9809, 5583, 1992,627

24, 6434,6064, 672

9, 7775,677

12, 541

906163314237489205143

6,340

6,0274,424

875

3,409171

8,902

52385

177158314207

3,695

3,4472,556

442

3,213131

21, 4907,174

14, 3168,648

12, 842

20, 1406,976

13, 1648, 280

11, 860

20, 6841,616

391608273

1,0382,2096,6746,2392,184

5,061

4,6033,108

330574649

' 42, 92719, 4719, 4203, 0252, 530

23, 4564, 2564,550

9, 0805,230

r 44, 01419, 3429, 0663,1382, 550

24, 6724,6064,577

9, 8285,741

8,112

38773

13110132220388

2,808

2,6131,921

326

3,511112

9,038

48782

173125349215

3,646

3,4282,498

460

3,344136

20, 5946,802

13, 7928,142

12,452

20, 1986,930

13, 2688,262

11,936

20,8371,735

420650296

1,0342,2706,6556,2212,183

5,114

4,6123,129

338560633

'43,72319, 8279, 5733,0462, 523

23, 8964,3854,588

9, 3195,376

' 44, 13319, 3888, 9893,1342, 533

24, 7454,5634,634

9,8645,731

7,316

35258

12097

29419385

2,624

2,4061,746

321

3,028103

9,078

52185

175140339217

3,698

3,4422,534

448

3,306140

20, 0866,786

13, 3007,993

12, 093

20, 4337,077

13, 3568,428

12,005

20, 6671,608

383590271

1,0512,2736,6796,2332,203

5,001

4,5273,060

323562655

' 44, 80020, 2349, 8673, 0812, 577

24, 5664,5444,643

9, 7135,671

' 44, 32519, 4719, 1533,1182, 519

24, 8544,6514,634

9, 9265,810

8,463

50766

167159348215100

3,306

3,0722,241

415

3,179127

8,952

47773

164127361214

3,605

3,3622,476

443

3,318146

20, 0106,794

13, 2168,089

11,921

20, 3757,074

13, 3018,390

11,985

21, 1961,728

397634293

1,0442,2966,7476,2902,213

5,271

4,7963,285

309596669

'45,36320, 44010, 0183,1162, 598

24, 9234,6114,664

9, 8655,713

' 44, 32619, 4269, 1663, 0822, 503

24, 9004, 6204,664

9, 8735,713

8,560

46063

163124322234105

3,405

3,1742,355

409

3,166155

9,160

53074

185142348234

3,782

3,5352,608

473

3,274151

20, 0836,819

13, 2648,199

11, 884

20, 3636,983

13, 3808,325

12, 038

21, 1821,684

387627284

1,0402,3536,7656,3052,233

5,200

4,7333,185

336613674

'44,82820, 24210, 0353,0432,548

24, 5864, 5394,664

9, 7195, 622

' 44, 10919, 3469, 2403, 0252, 488

24, 7634,6134,673

9, 8305,696

9,160

48571

170134347221106

3,599

3,3512,467

464

3,468159

9,167

49673

172132347215

3,750

3,5022,554

488

3,344149

20, 2546,865

13, 3898,403

11,851

20, 3156,902

13, 4138,268

12,047

21, 1071,694

373661296

1,0442,3416,8186,3642,237

5,106

4,6283,151

307575678

44, 85920, 34910, 1623,0462,548

24, 5104,4544,671

9, 7355,605

44, 52719, 5529,4153, 0342, 528

24, 9754, 6494, 694

9,9935, 796

8,986

50372

182147342222109

3,562

3,3152,475

440

3,323163

9,189

51771

191148354212

3,665

3,4202,531

462

3,444144

20, 4917,183

13,3088,550

11,941

20, 4287,040

13, 3888,348

12, 080

'21,242' 1, 704

'386'650

295

r 1,055' 2, 299' 6, 751' 6, 299' 2, 237

' 5, 246

' 4, 766' 3, 247

'327' 575'693

44, 81920, 11610, 0073,0172,539

24, 7034,4804,687

9,9805,768

44, 96519, 7399,6133,0262,552

25, 2264,6474,763

10, 1985,922

r 9, 018

'428'55

' 160'117'356'231'105

3,463

' 3, 222' 2, 376

r 424

' 3, 515'164

' 9, 227

'509'68

'187' 138'364'221

' 3, 746

' 3, 504' 2, 569

'467

' 3, 377' 154

21, 2401,715

378658323

1,0562,3196,7846,3202,196

5,180

4,6663,160

317580714

43, 92718, 6848,5733,0052,520

25, 2434,6854,660

10, 2535,937

45, 45320, 11910, 0503,0112,558

25, 3344,5934,750

10, 2775,961

9,007

50259

179151352243100

3,624

3,3762,491

448

3,324146

9,229

52672

187155367236

3,695

3,4412,534

465

3,427146

r Revised. a See corresponding note on p. S-ll. J Series revised to reflect bench-marking to the levels of the 1968 and 1969 Annual Retail Trade Reports (Census Bureau),and also recalculation of seas, factors for all lines of trade; description of revisions and re-

vised data back to 1961 appear on pp.38fL of the Oct. 1970 SURVEY.shown separately. § Except department stores mail order.

9 Includes data not




1968 1969

Annual

1969


1970

Jan. Feb. Mar. Apr. May June July Aug. Sept.?

LABOR FORCE, EMPLOYMENT, AND EARNINGS

POPULATION OF THE UNITED STATES

Total, incl. armed forces overseas mil

LABOR FORCE

Labor force, persons 16 years of age and over, .thous. .Civilian labor force.-- _ __do

Employed, total - __doNonagricultural employment--- doAgricultural employment do

Unemployed (all civilian workers) doSeasonally Adjusted t

Civilian labor force}: doEmployed, total _ - do

Nonagricultural employment do.._Agricultural employment do __

Unemployed (all civilian workers)... ..doLong-term, 15 weeks and over do _ _

Rates (unemployed in each group as percentof total in the group) :t

All civilian workersMen, 20 years and over _Women, 20 years and over _ _ ...Both sexes, 16-19 years _.

Married menNegro and other racesWhite workersOccupation: White-collar workers

Blue-collar workers .Industry of last job (nonagricultural):

Private wage and salary workersConstructionManufacturing..

Durable goods

EMPLOYMENT

Employees on payrolls of nonagricultural estab.rfTotal, not adjusted for seasonal variation, -thous. -

Seasonally Adjusted

Total thousMining doContract construction doManufacturing.. - .. . - _ do

Durable goods do. - -

Ordnance and accessories doLumber and wood products. . ... .do. ..Furniture and fixtures doStone, clay, and glass products.. doPrimary metal industries doFabricated metal products. _ doMachinery, except electrical doElectrical equip, and supplies doTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do

Nondurable goods.. . doFood and kindred products doTobacco manufactures doTextile mill products. . _ . doApparel and other textile products. . .doPaper and allied products . .doPrinting and publishing doChemicals and allied products . doPetroleum and coal products doRubber and plastics products, nee . .doLeather and leather products do

Transportation, communication, electric, gas,and sanitary services thous

Wholesale and retail trade . doWholesale trade . . doRetail trade . do

Finance, insurance, and real estate doServices doGovernment.. . . do

Federal. doState and local.. do

Production workers on manufacturing payrolls:^Total, not seasonally adjusted thous. .

Seasonally Adjusted

Total _ thousDurable goods . do

Ordnance and accessories . . doLumber and wood products doFurniture and fixtures. . doStone, clay, and glass products . . . . _ doPrimary metal industries doFabricated metal products doMachinery, except electrical doElectrical equipment and supplies - . .doTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do

i 201. 18

82, 27178, 73775, 92172,1043,8172,816

412

3.62.23.8

12.71.66.73.22.04.1

3.66.93.33.0

67, 915

67, 915606

3,28519, 78111, 626

338600472636

1,3161,3901,9661,9742,039

462433

8,1551,782

85994

1,406691

1,0651,030

187561355

4,31014, 0843,611

10, 4733,382

10, 62311,8452,7379,109

14, 514

14, 5148,457

192521390509

1,0461,0721,3421,3191,441

285340

i 203. 21

84,23980, 73377, 90274,2963,6062,831

375

3.52.13.7

12.21.56.43.12.13.9

3.56.03.33.0

70, 274

70, 274619

3,43720, 16911, 893

319609484656

1,3581,4422,0282,0132,067

476440

8,2771,796

82999

1,412712

1,0931,061

183594345

4,43114, 6453,738

10, 9073,557

11,21112,2042,7589,446

14, 768

14, 7688,648

184529401526

,085,110,379

1,341,456294344

203. 40

86,04682, 51679,64675, 6693,9772,869

80, 98778, 14274, 5283,6142,845

385

3.52.13.8

12.31.56.43.22.23.8

3.57.02.92.3

70, 758

70, 497621

3,42020, 24611, 950

316607484655

1,3671,4512,0282,0432,081

479439

8,2961,801

86992

1,410714

1,0971,064

190597345

4,45714, 7133,751

10, 9623,580

11, 24812, 2122,7499,463

15, 014

14, 8268,698

181527402524

1,0931,1151,3741,3631,481

296342

203.61

84, 52780. 98478, 02674, 3973,6292,958

81,32578,19474, 6963,4983,131

392

3.82.43.9

12.91.76.73.52.24.4

3.97.43.73.2

70, 964

70,567623

3,43620, 25211, 968

306606483657

1,3811,4522,0412,0492,078

477438

8,2841,799

83992

1,409715

1,1001,064

189596337

4,45914, 7393,762

10, 9773,584

11,28912, 1852,7479,438

15,041

14, 8268,713

174525401526

1,1061,1161,3861,3671,477

294341

203.81

85, 03881,51078, 67175, 1103,5612,839

81, 52378, 44574, 9993,4463,078

363

3.82.33.8

12.91.66.63.52.44.2

3.87.33.63.2

71,333

70,836622

3,44520, 23311, 965

298601483658

1,3861,4452,0502,0512,078

476439

8,2681,780

81991

1,406716

1,1061,062

191596339

4,46314, 8243,775

11,0493,596

11, 36112, 2922, 7399,553

14, 953

14, 7948,703

170520401526

1,1121,1071,3911,3731,468

293342

204.00

84,92081, 42778, 71675, 3953,3222,710

81,37978, 52875,0943,4342,851

389

3.52.13.6

11.81.56.23.22.14.2

3.65.43.73.6

71, 354

70, 808624

3,47320, 08211, 782

296603479659

1,3841,4442,0431,9342,028

476436

8,3001,806

80993

1,405718

1,1091,064

191596338

4,46414, 8483,782

11, 0663,611

11,38312, 3232,7309,593

14, 763

14,6388,522

168522397526

1,1081,1061,3841,2641,418

292337

204.18

84,85681,41678, 78875, 8052,9842,628

81,58378, 73775, 3023,4352,846

392

3.52.23.5

11.81.75.73.22.14.3

3.66.03.83.7

71, 760

70, 842627

3,49620, 08211, 773

290606478659

1,3801,4472,0511,9302,009

476447

8,3091,805

77995

1,410720

1,1101,067

192594339

4,46914, 7503,807

10, 9433,626

11,43112, 3612,7219,640

14, 680

14, 6388,516

164524396527

1,1031,1101,3911, 2551,403

292351

204.35

84, 10580, 71977, 31374, 3982,9153,406

82, 21379,04175, 6153,4263,172

409

3.92.53.6

13.81.86.33.62.14.6

3.97.13.83.8

69, 933

70, 992625

3,39420, 01811,679

281605477653

1,3601,4362,0431, 9221,988

474440

8,3391,817

80999

1,416721

1,1131,068

193595337

4,50714, 9383,828

11,1103,648

11,47212, 3902,7179,673

14, 402

14, 5738,425

156523395520

1,0861,1001,3831,2461,384

289343

204.51

84,62581,28377,48974,4952,9943,794

82, 24978, 82275, 3233,4993,427

465

4.22.8

13.42.07.03.82.35.0

4.37.94.64.7

70, 029

71, 135626

3,46619, 93711, 625

277598472657

1,3491,4282,0481,9931,890

472441

8,3121,830

80987

1,398720

1,1131,067

193591333

4,49614, 9873,834

11, 1533, 652

11,53012, 4412,7189,723

14, 346

14, 4898,367

155515390522

1,0721,0901,3811,3191,291

289343

204.66

85,00881, 69077, 95774, 7863,1713,733

82, 76979,11275, 5623,5503,657

545

4.42.9

13.92.27.14.12.75.2

4.68.14.74.8

70, 460

71, 256626

3,48119, 94411,648

271593471651

1,3371,4252,0461,9951,950

472437

8,2961,823

81980

1,396721

1,1131,066

194589333

4,50214, 9843,847

11,1373,665

11,53712,5172,7809,737

14, 385

14, 5128,409

151511390517

1,0631,087,381

1,3231,358

289339

204.84

85, 23181, 96078,40874, 8773,5313,552

82, 87278, 92475, 3383,5863,948

569

4.83.2

15.72.48.74.32.95.7

4.88.14.74.9

70, 758

71, 163622

3,42619, 79511, 529

261585468644

1,3231,4112, 0321,9791, 925

471430

8,2661,805

81979

1,394721

1,1111,063

193585334

4,46814, 9913,85311,1383,673

11,56412, 6242,8529,772

14, 240

14,3898,318

143504386512

1,0491,0791,3661,3131,345

289332

205. 02

84, 96881, 74178, 35774,6323,7253,384

82, 55578, 44974, 8363,6134,106

612

5.03.5

14.32.68.04.62.86.2

5.211.95.24.9

70, 780

70, 852620

3,35119, 57211, 386

256582456638

1,3091, 3942,0041,9561, 897

468426

8,1861,805

81971

1,375714

1,1081,060

192548332

4,47814, 9683, 859

11, 1093,677

11, 57212, 6142,7819,833

14, 061

14, 1808,186

141501375506

1,0371,0601,3401,2941,317

286329

205. 20

87, 23084, 05079, 38275, 1744,2084,669

82, 12578, 22574, 6713,5543,900

685

4.73.54.5

14.62.58.74.22.66.3

5.210.95.35.1

71, 385

70, 603620

3,32419,47711,286

250575453636

1,3051,3881,9821,9361,876

461424

8,1911,800

81959

1,385711

1,1031,055

193570334

4,51114, 9273,849

11,0783,679

11,53212, 5332,6639,870

14, 261

14, 1408,134

137495372505

1,0341,0571,3211,2971,309

280327

205. 40

87, 95584, 80180,29176, 1734,1184,510

82,81378,63875, 1193, 5194,175

711

5.03.75.0

13.92.78.34.73.16.6

5.611.06.05.9

r 70, 602

r 70, 546618

3,314' 19, 40211,217

'243^570'454'628

1,301' 1, 387' 1, 969' 1, 934' 1, 853

458420

' 8, 185' 1, 781)

81' 955

' 1, 393'706

' 1, 105r 1,054

191'578'333

4,539' 14, 933

3,856'11,077

3,676'11,514' 12, 550

2,627' 9, 923

' 13, 958

'14,090' 8, 082

'131'491'373' 499

1,033' 1,058

1, 3161, 289

' 1, 290'278

324

205.60

87, 24884,11579, 89476, 1123,7824,220

82, 67678, 44575, 0253,4204,231

736

5.13.74.8

15.92.88.44.82.77.0

5.512.25.75.5

'70,534

'70,384'620

' 3, 301' 19, 276'11,133

239'568'452'629

' 1, 300' 1, 386' 1, 943' 1, 905' 1, 839

'453'419

' 8, 143' 1, 791

'81' 951

' 1, 375704

' 1, 103' 1, 053

' 191'569'325

' 4, 522'14,910' 3, 843

'11,067' 3, 668

'11,515' 12, 572' 2, 623' 9, 949

'14,110

' 13, 978' 8, 015

' 129'480'372'500

' 1, 033' 1,058' 1, 291' 1, 26!)

1, 278273

' 323

205. 81

85, 65682, 54778, 25674, 7303,5254,292

83, 03178, 42475, 0253,3994,607

792

5.54.05.1

16.82.99.05.12.87.5

6.013.86.16.3

70, 760

70, 380614

3,23219, 27611, 137

233572452636

1,3131,3921, 9291, 9111,827

456416

8,1391,786

70952

1,372708

1, 1091,058

191571322

4,52614,9313,834

11,0973,675

11, 53312, 5932,6119, 982

14, 210

13, 9968,036

126492372507

1,0441,0631,2831,2781,273

277321

r Revised. » Preliminary. 1 As of July 1.^Effective with the Mar. 1970 issue of the SURVEY, labor force data reflect new seasonal

factors; comparable figures for prior periods appear in EMPLOYMENT AND EARNINGS, Feb. 1970

(USDL, Bureau of Labor Statistics).] See corresponding note, p. S-14.


S-14 STJRVEY OF CURRENT BUSINESS October 1970


1968 | 1969

Annual

1969


1970

Jan. Feb. Mar. Apr. May June July Aug. Sept.*

LABOR FORCE, EMPLOYMENT, AND EARNINGS—Continued

EMPLOYMENT— Continued

Seasonally Adjusted

Production workers on manufacturing payrolls—Continued^

Nondurable goods thous. _Food and kindred products doTobacco manufactures doTextile mill products doApparel and other textile products doPaper and allied products . . doPrinting and publishing doChemicals and allied products doPetroleum and coal products . doRubber and plastics products, nee doLeather and leather products do

HOURS AND MAN-HOURS

Seasonally Adjusted

Average weekly gross hours per production workeron payrolls of private nonagricultural estab.rt

Mining hoursContract construction - _ doManufacturing: Not seasonally ad justed .. -do

Seasonally adjusted do .Overtime hours - do

Durable goods doOvertime hours .. - - d o

Ordnance and accessories doLumber and wood products doFurniture and fixtures _ . - doStone, clay, and glass products do -Primary metal industries do - .Fabricated metal products doMachinery, except electrical . - . doElectrical equipment and supplies doTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do

Nondurable goods doOvertime hours ... do

Food and kindred products .-- do. .Tobacco manufactures ._ doTextile mill products __ ... .doApparel and other textile products do

Paper and allied products do -Printing and publishing doChemicals and allied products. _ doPetroleum and coal products doRubber and plastics products, nee doLeather and leather products do

Trans., comm., elec., gas, etc* -doWholesale and retail trade _ . . _ do

Wholesale trade do.Retail trade - - do

Finance, insurance, and real estate doServices* do

Seasonally Adjusted

Man-hours in nonagric. estab., all employees, sea-sonally adjusted at annual ratef _bil. man-hours. .

Man-hour indexes (aggregate weekly), industrialand construction industries, totall

1957-59 = 100-.Mining _ _ - --doContract construction doManufacturing ... ._ ... do

Durable goods do

Ordnance and accessories . doLumber and wood products doFurniture and fixtures doStone, clay, and glass products do

Primary metal industries doFabricated metal products doMachinery, except electrical -do

Electrical equipment and supplies. .. do - -Transportation equipment doInstruments and related products doMiscellaneous manufacturing ind_ -_do ...

Nondurable goods doFood and kindred products.. ...do ..Tobacco manufactures doTextile mill products doApparel and other textile products. . do

Paper and allied products doPrinting and publishing. doChemicals and allied products doPetroleum and coal products doRubber and plastics products, nee doLeather and leather products do

6,0561,192

72881

1,240536667610118435306

42.637.440.7

3 6

41 43 8

41.540.640 641 841 641.742 140.342.240.539.4

39 83 3

40 837 941 236.1

42 938.341 842 541.538.3

40.636 040 134 737 034 7

134. 77

115.577 9

112 6118 0123 5

223 794 3

127 3108 9

110 3126.5133 2

143 0122.4126 6109 4

110 896 283.1

107 1117 3

117.4117 3122.783.0

158.595.9

6,1201,205

69881

1,241552682622113460296

43.037.940.6

3 6

41.33.8

40.440.240 442 041 841.642 540.441.540.739.0

39 73 4

40 837 440 835.9

43 038.441 842 641.137.2

40.735 640 234 237 134 7

139. 09

118.180 6

119 2119 8126 0

208 694 8

130 3113 0

114 9130.7138 2

145 7121.5131 4109 6

111 697 478.3

106 2116 9

120.9120 2125.379 3

166.390.1

6,1281,209

72874

1,238552683623118463296

43 137 940 640.63 6

41 23 8

40.439.940 341 941 941.642 540.441.240.939.1

39 73.4

40.937 240 935.9

42.938.441 842 840.936.9

40.535 740.334 237.035 0

139. 75

118.481.1

118 9120.2126 6

205 793.8

130.3112 3

116.0131.4137.8

148.1122.8132.7109.2

111.897.981.6

105 6116.6

120.9120.5125.483 4

166.589.4

6,1131,207

69874

1,236554685621118462287

43 138 141.040.73 6

41 43 8

40.340.040 141.942.141.542 640.441.641.039.0

39 73.3

40.937 440.735.8

42.938.341 842.241.037.1

40.835.640.334 137.134 7

139. 76

118.781.5

120 1120 3127 1

197 393.7

129.4112 7

118.0131.2139 3

148.5123.6132 1108.6

111 497.878.7

105 1116.0

121.3120 6125.082 2

166.687.1

6,0911,187

68872

1,234554689619118460290

43 037 640.740.53 5

41 23 6

40.239.939 941 742.141.442 440.241.240.738.9

39.63.3

40.637 340.635.8

42.838.241 742.640.937.2

40.935.540.334.037.034 6

139. 90

117.981.1

118 8119.6126 4

192 392 6

128.7112 2

118.6129.8139 1

148.5121.7130 7108.7

110 795.477.3

104 6115 9

121.0121 0124.383 0

165.588.3

6,1161,214

67873

1,233554690619118459289

43 538 140 640 53 5

41 13 5

40.340.240 041 841 641.442 24<)!l40.740.938.9

39 63 3

40.837 240 735.8

42 738.441 842 640.837.3

40.735 540.334 037 234 7

139. 97

117.182 0

121 4118 1123 3

190 593 6

127.7112 5

116.8129.7137 8

136.3116.1130 9107.1

111 498.176.0

104 9115.8

120.7121 8124.683 0

164.788.2

6,1221,213

64874

1,238557691620118457290

43 238 241 040 73 5

41 33 6

40.540.340 042 141 741.542 640.341.440.939.3

39 83 3

40.836 240 936.0

42 838.641 842 341.137.7

40.835 540 533 836 934 6

140. 25

117.881.8

122 5118.7124 1

186 994.2

127.4113 5

116. 5130.5139 8

136.0116.9130 9112.7

111 898.070.6

105 6116.9

121.7122.6124.882 4

165.289.5

6,1481,226

67878

1,242558691619119459289

42 736 740.140.33 3

41 03 4

40.639.639 541 741.241.442 240.540.240.739.3

39.63.4

41.038.340.435.6

42.838.242 042.540.937.5

40.735.440.333.836.934 4

139. 44

115.480.9

113.4117.5121.8

178.292.4

125.5110.9

113.4129.0137.7

135.7112.0128.9110.1

111.999.578.2

104.8116.0

121.9121.3125.283.5

165.188.7

6,1221,241

67867

1,226557690616119454285

43 438 239 839 93 2

40 53 2

41.340.139 341.740.941.141 939.740.340.238.6

39 33.2

40.737.340.135.5

42.338.041.842.741.037.1

40.735.440.233 737.034 4

139. 70

115.682.2

121 1116.1120.0

180.192.1

123.3111.3

111.1126.9136.5

140.8104.7127.3108.1

110.8100.076.2

102.7114.1

120.2120.5124.083 9

163.786.5

6,1031,235

67861

1,223558690613119453284

43 238 040 040.23 2

40 73 2

41.139.539 441 840 741.241 840.240.440.739.0

39 43 2

40 537 540 235.6

42 238.041 842 240.737.4

40.635 340 133 837.034 7

140. 21

115.581.6

120 6116.3120 8

174 690.1

123.6110 5

109.6126.9136 2

143.0110.4128.9108.0

110.499.076.6

102 2114. 2

120.2120.5123.482.9

162.186.9

6,0711,217

67860

1,221556687610118450285

43.138.339.740.03.0

40.43.0

41.139.839.341.640.140.941.440.039.740.539.0

39.43.0

40.638.340.635.5

42.137.941.441.940.737.4

40.235.340.133.736.934 4

139.74

114.181.1

119.7114.7118.5

165.489.5

122.0108.9

106.6125.0133.4

141.3107.4128.3105.7

109.897.878.2

103. 1113.7

119.5119.7121.681.7

161.187.2

5,9941,216

68852

1,206551681606118412284

42.638.139.839.82.9

40.33.0

40.839.738.841.340.240.641. 139.740.340.138.7

39.13.0

40.737.139.835.1

41.837.741.542.540.037.7

40.635.440.133.936.834 5

139. 05

111.779.5

116 0112.6116 3

161 988.7

117.0106 9

105.6121.9129 9

138.2106.8125 7104.0

107 798.076.9

100 2111.0

117.5118 0121.182 8

144.987.6

6,0061,214

67842

1,214549679603118434286

42 437 640.039.83 1

40 43.2

40.639.638 941.140.440.941. 139.541.640.2

- 38.6

39.03.0

40.337 440.035.2

41.637.741 542.640.437.6

40.635 439.933 836.734 4

138. 39

111.379 3

113 4112 6116 2

156 587 5

116.4106 2

105.8122.5128 1

137.8109.6123 4103 1

107 996 976.499 5

112 1

116.6117 6120.583 0

154.288.0

r 6, 008r 1, 203

67r 839

r 1, 223T 544r680'605' 118'444

285

'42 537 439.940.13 0

40 73 1

40.339.8

'39 341 2

'40 741.341 140.441.2

'40.3'39.1

r 39 32 9

40 2' 37 9

40 335.5

41 737.941 5

r 42 6'40.8'37.6

40.7r 35 4r 40 0

33 936 834 6

' 138.70

' 111. 3r 79 1

112 7' 112 7

116 1

r 148 5

' 87 2r H7 9

' 105 2

r 106 5

' 123. 8127 6

140 1'106.9r 122 8r 103 5

r JOS 3

' 95 8'77.4r QQ Q

T 113 9

' 115. 8T 1 18 4

'120.9r 851 O

' 159. 3'87.7

' 5, 963' 1, 206

68' 835

' 1, 205'541r 676

'602' 117'435'278

'42 1'37 3'39 8'39.8

3 0

'40 3'2 9

'40.3'39.9' 39 0'41 0'40 5'40.5

40 9'39.9'40.7'40.0'38.4

r 39 2' 3 0

r 40 837 539 g

'35.1

r 41 6

'37.7r 41 3

r 43 o40.4

'36.7

40.6r 35 4r 39 9' 33 9r 36 9T ox 7

' 138.18

' 109. 8r 78 4

' 111 8r HI 0

'114 1

' 146 3r 87 0

r H6 7

' 104 8

' 106 0' 121.4' 124 6

r 136 2' 104.7' 119 7' 101 3r 107 1' 97 4'77.7T QS 9

r HO 9

' 114. 9' 117 1' 119. 8

r ft3 1

'154.6'83.5

5,9601,202

57836

1,203546685605116436274

42 134 739 739.42 7

40 12 7

39.739.238 540 841 140.039 938.942.038.537.7

38 52 5

39 937 238 834.1

41 237.142 043 039.435.8

40.335 139 633 936 9•3A a

137.07

107.477 6

101 4110 0113 6

140 786 0

115 2105 8

108 7120.4190 8

133 7107.6116 9

no* Q

105 295 064.6QC 0

1ft7 fi

114.8i ifi ft122.4

151.180.3

r Revised. *> Preliminary.^Beginning with the June 1970 SURVEY, payroll employment, hours, earnings, and turnover

data reflect actual employment levels for Mar. 1969 and new seaawml factors. Data in the 1969BUSINESS STATISTICS are in accordance with Mar. 1968 b«nchfl»rfe5 and are not comparable

with current estimates nor with the revised historical statistics to appear in the 1970 BLSBulletin No. 1312-7, "EMPLOYMENT AND EARNINGS, UNITED STATES, 1909-70," to be availablefrom the Superintendent of Documents, Govt. Printing Office, Wash., D.C. 20402.

* New series. f Data beginning 1968 revised to new benchmarks.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis



1968 1969

Annual

1969


1970

Jan. Feb. Mar. Apr. May June i July Aug. Sept.*


WEEKLY AND HOURLY EARNINGS

Not Seasonally AdjustedA vg. weekly gross earnings per prod, worker on pay-

rolls of private nonagricultural estab.: 1Mining .. . dollars .Contract construction doManufacturing establishments — .do

Durable goods doOrdnance and accessories doLumber and wood products.. do., .Furniture and fixtures doStone, clay, and glass products . .doPrimary metal industries--. doFabricated metal products ._ doMachinery, except electrical doElectrical equip, and supplies doTransportation equipment _ _ doInstruments and related products doMiscellaneous manufacturing ind do

Nondurable goods doFood and kindred products doTobacco manufactures doTextile mill products _ . . . d oApparel and other textile products do

Paper and allied products . . . . d oPrinting and publishing _ doChemicals and allied products doPetroleum and coal products .. . -doRubber and plastics products, nee doLeather and leather products do

Trans., comm., elec., gas, etc.* doWholesale and retail trade do

Wholesale trade doRetail trade.- do

Finance, insurance, and real estate doServices*. _ . _ do.

Average hourly gross earnings per productionworker on payrolls of nonagricultural estab.: 5

Mining. _. _ _ .dollarsContract construction doManufacturing _ do

Excluding overtime.. doDurable goods do

Excluding overtime .doOrdnance and accessories doLumber and wood products .doFurniture and fixtures doStone, clay, and glass products ..do

Primary metal industries. . doFabricated metal products ..doMachinery, except electrical doElectrical equip, and supplies doTransportation equipment doInstruments and related products doMiscellaneous manufacturing ind do

N ondurabl e goods . doExcluding overtime do. .

Food and kindred products doTobacco manufactures doTextile mill products doApparel and other textile products doPaper and allied products doPrinting and publishing.. doChemicals and allied products do. .Petroleum and coal products doRubber and plastics products, nee doLeather and leather products do

Trans., comm., elec., gas, etc.* doWholesale and retail trade . do

Wholesale trade doRetail trade do

Finance, insurance, and real estate doServices* do

Miscellaneous hourly wages:Construction wages, 20 cities (ENR) : d*

Common labor... $perhr_.Skilled labor do

Farm, without board or rm., 1st of mo doRailroad wages (average class I) do

PRIVATE NONPAR M SECTOR 1

Not Seasonally AdjustedEmployees on payrolls, exc. gov't. and farm:

Unadjusted thous..Seasonally adjusted do

Production or nonsupervisory workers . doHrs. (gross), av. weekly: Unadjusted- ..hours..

S easonally ad j ..do. .Hourly earnings (gross), average dollars. .Weekly earnings (gross) , average do

Spendable earnings per worker (with 3 de-pendents), total private§. current dollars. .

1957-59 dollars.-Manufacturing current dollars

142. 71164.93122. 51

132. 07135. 29104.34100. 28124. 98147. 68131. 77141. 46118. 08155. 72120. 6998.50

109. 05114. 2493.9991.0579.78

130. 85133. 28136. 27159. 38121. 1885.41

138. 8586.40

122.3174.95

101. 7584.32

3.354.413.012.883.193.053.262.572.472.99

3.553.163.362.933.692.982.50

2.742.632.802.482.212.213.053.483.263.752.922.233.422.403.052.162.752.43

4.2015.9561.44

13.466

56,070

46, 47537.8

2.85107. 73

95.2878.61

106.75

154.80181. 16129. 51

140. 01138. 17110. 15105. 85133. 98158. 42138. 94152. 15124. 84161. 85128. 21103. 74

115. 53120. 7797.9995.4782.93

139. 32141. 70145. 05170. 40126. 1887.79

147. 7491.14

129. 8578.66

108. 3391.26

3.604.783.193.063.393.243.422.742.623.19

3.793.343.583.093.903.152.66

2.912.792.962.622.342.313.243.693.474.003.072.363.632.563.232.302.922.63

4.6296.5141.58

13.708

58, 070

48,08437.7

3.04114. 61

99.9978.30

111. 44

156.96187.68129. 92

139. 33137. 89112. 16107. 71136. 53160. 51139. 28149. 94124. 93158. 76128. 21103. 22

116. 51121. 7293.3897.5883.85

141. 37142. 82145. 95171. 17126.2887.19

149. 7493.70

131. 2281.19

108. 0492.49

3.604.803.203.063.393.243.432.792.643.22

3.843.343.573.103.923.152.64

2.922.802.942.492.382.313.283.703.503.993.082.353.672.563.242.302.922.62

4.7486.672

3.760

59, 05958,28548,953

38.137.73.06

116. 59

101.5178.87

111. 75

158.41193. 36132. 84

143. 45140. 48114. 45109.08137. 80162. 93143. 14155.00127. 39166. 66131. 43105.06

118.00124. 1597.8998.8183.77

143. 32144. 75147. 14172. 10129. 9087.58

152. 1192.46

132. 1879.69

108. 4192.38

3.654.923.243.093.443.283.462.842.683.25

3.873.403.633.133.943.192.68

2.952.822.972.512.412.343.313.753.524.043.132.383.712.593.282.332.932.67

4.7516.738

3.749

58, 91658, 38248,844

37.937.73.11

117. 87

102.4979.27

114. 01

159.78189. 97132. 28

142.83140. 24114. 05108. 81137. 67160. 55141. 36155. 61126. 45165. 51131. 29105. 72

117. 51121. 2996.1198.5783.77

142.66144. 77148.04173. 77128. 8688.80

151. 7092.13

132. 5979.20

109.4592.81

3.694.963.253.113.453.293.482.832.683.27

3.853.393.673.133.953.212.69

2.962.842.982.492.412.343.313.773.554.063.122.403.702.613.292.352.952.69

4.8236.7671 51

3.717

58, 95858,54448,873

37.637.53.12

117. 31

102.0678.63

113. 57

161.08184. 39132. 36

142. 55143. 32114. 11108. 81137. 85159. 39141. 86154.87126. 77165. 17132. 75106. 90

118. 21123. 4197.7399.4683.77

142. 43145. 15149. 52175. 07128.6490.51

152. 1592.58

133. 8779.30

111.2394.11

3.724.973.263.123.463.313.532.862.703.29

3.853.413.673.133.983.232.72

2.972.853.012.622.422.343.323.783.564. 103.132.423.722.633.332.362.992.72

4.8486.802

3.798

58, 89358,48548,797

37.537.63.13

117. 38

102.1178.25

113.63

160.64189. 13134. 89

145.53143. 91113.88110. 57137. 76161. 38143. 79160. 33129. 65170. 49134. 23109.02

119. 60124.6498.2699.9584.37

144.29148. 59150. 36170. 97130. 3193.45

151. 7893.18

135. 9480.14

110. 2694.11

3.715.033.293.153.493.343.512.842.713.28

3.873.443.723.174.043.252.76

2.992.873.042.672.422.353.343.813.584. 103.142.443.722.613.342.352.982.72

4.8536.831

3.747

59,20658,48149,097

37.737.63.12

117. 62

102.3077.91

115. 61

159.05181.00131. 93

142.04144.73110. 65105. 42134. 15159. 42141. 45156.14128. 15161. 20132. 03108. 25

117. 99124. 74106. 3996.8083.07

142. 04143. 26150.12176. 40128. 2192.74

151. 0793.02

134.6779.49

111.4493.98

3.765.073.293.173.493.363.532.832.713.28

3.863.453.703.184.023.262.79

3.012.903.082.862.422.363.353.803.604.213.152.463.732.653.352.383.022.74

4.8916.9031 67

3.820

57,48358,60247, 373

37.137.53.13

116. 12

101. 9777.37

114. 48

160.60186.21130. 94

140. 24144. 43111.90104.49134. 15157. 08140. 48155. 87127. 04157. 21131. 45108.64

117. 69123. 20106.6496.8083.78

140. 37144.02149. 76176. 81127. 4892.38

151.8893.80

135. 2079.92

112. 4895.01

3.775.063.293.173.483.363.542.842.703.28

3.853.463.723.203.973.272.80

3.012.903.082.892.422.363.353.813.604.233.142.473.752.683.382.403.042.77

4.9136.912

3.874

57,44758,69447, 316

37.037.33.15

116. 55

102.3277.22

113.69

160.27188. 23132. 40

142. 51145.66112. 97105. 96137. 12157. 49142. 33157. 88129. 92160.40133. 50109. 20

118. 78124. 00105. 5697.0484.85

140.70145. 92150.48176. 81127. 2691.64

150. 7593.80

136.0080.49

112. 8596.81

3.785.063.313.193.513.383.572.862.713.32

3.863.483.753.244.013.282.80

3.032.923.102.902.422.373.353.843.604.233.152.473.752.683.402.413.052.79

4.9276.921

57,78058,73947,648

37.237.43.17

117. 92

103.3977.62

114.85CA OO

163.35192.91131. 80

141. 50146.06114.62105. 65139.03156.35142.10155.25128.30156.80132. 59108. 64

.118.56124. 49110. 5696.5683.90

140. 53145. 15150. 18179. 77127. 3590.02

149. 2593.88

135. 6680.25

111.8195.70

3.795.093.323.213.523.403.582.882.733.35

3.873.503.753.244.003.292.80

3.042.933.122.982.422.373.373.853.614.263.162.483.752.693.402.413.032.79

4.9636.9631.66

58,00158,53947,854

36.937.23.18

117.34

102.9576.83

114. 37ft.1 M

162.26194.31132. 93

143.07146.47117.09105.88140.27157. 56143. 26154.95129.49164.02132.00108.47

118. 95127. 98110. 0396.4782.84

142.12145. 89151. 42181.90123.2993.38

153.1294.50136.0681.41

111. 5796.04

3.805.103.343.223.553.423.592.922.753.38

3.903.523.773.274.063.302.81

3.052.943.162.992.432.363.403.883.644.253.092.493.792.703.412.433.042.80

5.0487.144

58,05458,23847,905

37.037.13.20

118.40

103.7777.10

115.27R5, fU

163.88196. 99134. 40

144. 94146. 11119. 50107. 92141. 10159.54145. 49155. 32130.68170. 56133.39108. 75

119. 95127. 58115. 1497.9384.25

142. 61147. 03152. 72181.04127. 2694.87

156.2996.12

136. 8082.86

111. 5796.95

3.825.133.363.233.573.443.592.982.763.40

3.923.543.773.304.103.312.81

3.062.953.153.032.432.383.423.903.684.233.152.493.842.703.422.433.042.81

5.1687.240

58, 74658,07048,582

37.437.23.21

120. 05

105.0877.72

116. 43R6.12

r 163. 88r 200. 20134. 46

143. 87143. 28118. 31

' 107. 86' 141. 25'159.96144. 79153.06132. 14166. 06

'132.87'108.29

'121.44128.61

'113.6396.96

'84.61

144. 70148. 18153. 59

'184.45' 129. 68' 93. 99

159.06' 98. 10

'137.8385.16

112. 6198.77

'3.82'5.20

3.373.253.573.453.602.982.78

'3.42

3.943.543.773.324.083.33

'2.82

3.092.973.16

'3.032.43

'2.393.473.923.71

'4.25'3.21

2.483.872.71

'3.422.443.062.83

5.3967.501.66

'58,485'57,996'48,297

37.637.33.23

121. 45

106.1878.25

116. 48RK 84

'163.58'203.67' 134. 13

' 143. 92' 145. 16'122.61'111.00' 142. 35' 161. 20' 144. 54152. 31

'131.74' 164. 00'134.13'108.29

'121.35'128.86'105.46

97.36' 85. 56

' 145. 88' 149. 33' 153. 68'183.18'130.41' 91. 14

159. 10' 98. 74' 137. 94' 85. 40

'113.65'100.10

'3.84'5.29'3.37'3.253.58

'3.46'3.62'3.05'2.81

3.43

'3.99'3.56

3.77'3.31'4.10'3.37'2.82

3.082.97

'3.12'2.79

2.44'2.41

3.49'3.94

3.73'4.25'3.22

2.473.89

'2.723.442.44

'3.08'2.86

5.427.553

'58,507' 57, 81248,337'37.6'37.2'3.25122. 20

106.78' 78. 51116. 2285.46

164.51191. 17136.17

147.06146.00119. 29110. 26142.90168. 92146. 97152. 40131. 32176. 35132. 74108. 02

121. 44129. 43110. 1995. 8083.55

146. 85148. 85159. 18187. 49128. 4888.75

157. 9596.80

136. 6283.82

113. 34100.40

3.885.343.433.303.643.513.653.022.823.46

4.113.623.813.354.133.432.85

3.133.023.182.842.452.453.533.983.794.323.222.503.902.753.452.483.082.91

5.4277.61

58,31057, 78748,202

37.036.83.28

121.36

' Revised. *> Preliminary. i Includes adjustments not distributed by months.f See corresponding note, p. S-14. * New series.tf Wages as of Oct. 1, 1970: Common, $5.480; skilled, $7.64.

§ Data for 1970 are calculated on an annual basis with regard to Federal income taxes.Instead of reflecting changes as of July 1, 1970 in personal exemptions and in surtax, datareflect personal exemptions of $625 and surtax of 2.5 percent throughout the year.




1968 1969

Annual

1969


1970



HELP- WANTED ADVERTISINGSeasonally adjusted index t 1957-59=100..

LABOR TURNOVERAManufacturing establishments:

Unadjusted for seasonal variation:Accession rate, total

mo. rate per 100 employees. _New hires do

Separation rate, total - - doQuit . . doLayoff do

Seasonally adjusted:Accession rate total do

New hires doSeparation rate total do

Quit . _ _ _ _ _ d oLayoff do

INDUSTRIAL DISPUTESStrikes and lockouts:

Beginning in period:Work stoppages numberWorkers involved thous

In effect during month :Work stoppages numberWorkers involved thous

Man-days idle during period doEMPLOYMENT SERVICE AND UNEMPLOY-

MENT INSURANCENonfarm placements thousUnemployment insurance programs:

Insured unemployment, all programs § doState programs:

Initial claims doInsured unemployment, weekly avg do

Percent of covered employment: cfUnadjustedSeasonally adjusted

Beneficiaries weekly average thousBenefits paid mil. $

Federal employees, insured unemployment,weekly average _thous__

Veterans' program (UCX):Initial claims doInsured unemployment, weekly avg_._doBeneficiaries, weekly average doBenefits paid mil. $

Railroad program:Applications thousInsured unemployment, weekly avg .doBenefits paid mil. $

206

4.63.54.62.51.2

5,0452,649

49, 018

5,733

1,187

10, 4631,111

2.2

9362,031.6

23

2893229

69.2

13920

40.4

228

4.73.74.92.71.2

5,7002,481

42, 869

5,153

1,177

10, 3851,101

2.1

9232, 127. 9

20

3333734

87.0

10017

37.0

224

5.64.36.24.01.1

4.53.55.02.81.2

538191

915395

3,634

471

1,015

731948

1.82.2832

156.7

18

273735

7.2

713

2.4

235

C.94.86.64.41.1

4.83.84.82.61.2,

554186

904274

2,193

503

902

655840

1.62.2706

136.2

17

263230

6.5

613

2.5

227

5.04.05.32.91.3

4.73.65 02.71.3

531337

850421

3,168

463

929

745864

1.62.2686

139.5

18

293228

6.3

1015

2.9

222

3.62.84.32.11.3

4.43.44 82.61.3

324131

611368

4 308

372

1,105

8661,030

2.02.3763

136.6

22

303832

6.2

514

2.5

217

2.92.14.21.61.8

4.63.54 52.51.4

19651

446276

3,882

311

1,464

1,3631,375

2.72.3

1,020214.3

24

394842

9.5

517

3.2

203

4.02.94.82.11.7

4.23.35.02.51.5

26055

420233

3,730

326

1,958

1,5291,847

3.62.5

1,459299.4

28

446155

12 0

920

4. 1

203

3.62.54.31.91.6

4.33.15.12.41.7

290106

460296

1,820

295

1,988

1,1691,874

3.62.6

1 629310 8

30

386661

12 0

418

3 4

194

3.72.64.51.91.6

3.93.05.02.21.8

390294

570364

2,230

328

1,917

1,0781,798

3.52.7

1 581331.1

29

426966

14.2

919

3.7

186

3.72.64.82.11.7

4.02.85.22.22.0

6002319

8102385

2 4, 181

352

1,885

1,3331,770

3.43.2

1,533320.2

27

477067

14 6

816

3 6

180

4.22.84.62.11.5

4.22.75.02.11.9

7502309

9602470

2 7, 516

339

1,778

1,0101,667

3.23.6

1 462292 9

26

387067

14 0

415

2 4

175

5.43.94.42.11.5

4.02.74 82.21.9

600212

835428

5,040

374

1,696

1 1181 583

3.03.7

1 382291 7

27

477369

15 3

1211

2 3

172

'4.42.9

'5. 32.1

'2.3

'4. 12.8

r4. 92.2

r 1.6

489192

749354

4,378

333

1,897

1 4851,761

3.33.6

1 414314.2

31

518477

18.0

2115

2.0

169

5.03.65.83.01.7

4.02.94.72.11.8

420135

700202

2,800

341

1,855

1,710

3.23.7

33

89

1617

3.0

"161

P 1,747

p 1,616

"3.0*>4. 1

*32

p81

J>1S

FINANCE

BANKING

Open market paper outstanding, end of period:Bankers' acceptances mil. $Commercial and finance co. paper, total do

Placed through dealers. do _ _Placed directly (finance paper) __ do

Agricultural loans and discounts outstanding ofagencies supervised by the Farm Credit Adm.:

Total, end of period _ mil. $Farm mortgage loans:

Federal land banks _ doLoans to cooperatives doOther loans and discounts do

Bank debits to demand deposit accounts, exceptinterbank and U.S. Government accounts,annual rates, seasonally adjusted:

Total (233 SMSA's)O _ bil. $New York SMS A do

Total 232 SMSA's (except N.Y.) do6 other leading SMSA's t do226 other SMSA's . do

Federal Reserve banks, condition, end of period:Assets, total 9— mil. $

Reserve bank credit outstanding, total 9 __doDiscounts and advances doU.S. Government securities do

Gold certificate account do

Liabilities, total 9 ... do

Deposits, total _ _ doMember-bank reserve balances do ..

Federal Reserve notes in circulation do _

4,42820, 4977,201

13, 296

11, 748

6,1261,5774,044

78 972

56, 614188

52, 937

10,026

78 972

23, 47321 807

45, 510

5,451- 31, 709

11,817r 19, 892

13, 204

6,7141,7324,758

84 050

60, 841183

57, 154

10, 036

84 050

24 33822, 085

48, 244

5,14529, 51511, 30918, 206

!12, 841

6,6451,573

i 4, 624

9, 430. 14, 148. 4

5, 281. 72, 242. 83,038 9

80 281

58,6261,514

54,911

10, 027

80 281

24 27122 789

45, 885

5,23229, 66311,87117, 792

12, 996

6,6761,5854,736

9,737.24,311.5

5,425.72, 249. 63 176 2

80 285

56, 948928

54, 134

10, 036

80 285

23 31721 656

45, 818

5,25631,88112, 08619, 795

i 12, 819

6,7001,680

i 4, 439

9, 527. 04, 127. 6

5, 399. 32, 254. 73 144 7

81 919

59, 5921,690

55, 515

10, 036

81 919

25 15023 613

46 128

5,212r 33, 636

12, 524••21,112

i 12, 803

6,7041 705

i 4, 394

9 484.44,207 5

5,276.92,224.83 052 1

84 315

61,6031,531

57, 318

10, 036

84 315

24 94823 385

47 191

5,451'31,70911,817

r 19, 892

13,204

6,7141 7324,758

9,560 44, 198 2

5,362 22,212 93 149 3

84 050

60, 841183

57, 154

10, 036

84 050

24 33822 085

48 244

5 288r 34, 36212, 038

T 22, 324

13 388

6,7381 8044,846

9 547 54,054 0

5 493 52,277 43 216 1

83 133

59, 9311,565

55, 709

11,036

83 133

25 60823 637

46 831

5,249r 36, 02012, 875

r 23, 145

13, 597

6,7771,8444,975

9,793.54,232.1

5 561 42,309 13 252 2

83 283

59, 5951,148

55, 823

11, 045

83 283

25 34823 344

46 689

5 352r 37, 16413, 634' 23, 530

13, 826

6,8331 8405,154

9 845 34 336 7

5 508 62 291.43 217 2

82 709

59, 348684

55, 785

11, 045

82 709

24 72622 495

46 992

5 614r 37, 96613, 735

r 24, 231

14, 032

6,8911 8285,313

10 170 24 422 0

5 748 22 417.93 330 3

84 690

60,729545

56, 508

11,045

84 690

25 89523 082

47 254

5 801r 39, 67413, 952

r 25, 722

14, 190

6,9421 7965,452

10021 84 249 4

5 772 52 460.03 312 5

84 024

61,6831,451

57, 307

11,045

84 024

25 18723 041

47 879

5 849••37,748

12, 989r 24, 759

14, 353

6,9951 7495,609

10 143 34 366 0

5 777 32 443 33 334 0

84 102

60,728420

57, 714

11,045

84 102

23 97021 991

48 391

5 973r 36, 91112, 034

r 24, 877

14, 308

7,0261 7625, 519

10,217 94 324 3

5 893 62 508.23 385 4

84 794

62, 4111,292

58, 597

11,045

84 794

25 25323 072

48 746

5,97936, 52412, 04424, 480

14, 338

7,0611,7785,499

10,559.54 770.6

5 788 92, 478. 83 310 1

r85 708

' 62, 127'538

59,947

11,045r85 708r24 536r 22, 557

48, 952

"87 321

63, 262853

59, 975

10, 819

"87 321

25 99223 893

49, 128

r Revised. v Preliminary. 1 Data for indicated month exclude loans by FederalIntermediate Credit Banks outside the Farm Credit Adm. system. 2 Excludes figures forthe interstate trucking industry stoppage. t Revised (back to 1960) to incorporate newseasonal factors; see note "}", p. S-15, Oct. 1969 SURVEY for data through May 1968 (revisionsfor June and July 1968, 197 and 204). A See note 'T', P- S-14.

§Beginning Jan. 1970, data include claims filed under extended duration provisions ofregular State laws.

^Insured unemployment as % of average covered employment in a 12-month period.OTotal SMSA's include some cities and counties not designated as SMSA's.^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco-Oakland and Los

Angeles-Long Beach. 9 Includes data not shown separately.




1968 1969

End of year

1969


1970


FINANCE—ContinuedBANKING- Continued

All member banks of Federal Reserve System,averages of daily figures:

Reserves held, total . __mil. $..Required doExcess . do .

Borrowings from Federal Reserve banks.. .doFree reserves do

Large commercial banks reporting to Federal Re-serve System, Wed. nearest end of yr. or mo.:t

Deposits:Demand adjustedc? mil $

Demand, total 9 do.Individuals, partnerships, and corp doState and local governments .doU S Government _ do-Domestic commercial banks .. _ do__

Time, total 9 doIndividuals, partnerships, and corp.:

Savings., __ doOther time do

Loans (adjusted) , totalcf doCommercial and industrial . doFor purchasing or carrying securities do _To nonbank financial institutions _ . doReal estate loans doOther loans _ __ _ __ _ _do

In vestments, total doU.S. Government securities, total do

Notes and bonds - doOther securities. _ _ do

Commercial bank credit (last Wed. of mo., exceptfor June 30 and Dec. 31 call dates) , seas, adj.:

Total loans and investmentsO bil. $LoansO . do.U.S. Government securities doOther securities. . do

Money and interest rates: §Bank rates on short-term business loans:

In 35 centers percent per annum..New York City do.._.7 other northeast centers do

8 north central centers do7 southeast centers do8 southwest centers.. do4 west coast centers do

Discount rate (N.Y.F.R. Bank), end of year ormonth percent..

Federal intermediate credit bank loans do

Home mortgage rates (conventional 1st mort-gages):

New home purchase (U.S. avg.)_ percent--Existing home purchase (U.S. avg.) do

Open market rates, New York City:Bankers' acceptances (prime, 90 days) doCommercial paper (prime, 4-6 months)__doFinance Co. paper placed directly, 3-6 mo. doStock Exchange call loans, going rate do

Yield on U.S. Government securities (taxable):3-month bills (rate on new issue) percent..3-5 year issues do

CONSUMER CREDIT(Short- and Intermediate-term)

Total outstanding, end of year or month mil. $__

Installment credit, total do

Automobile paper . doOther consumer goods paper ...doRepair and modernization loans do_Personal loans do

By type of holder:Financial institutions, total do.

Commercial banks do.Sales finance companies do. 1 1 "

Credit unions doConsumer finance companies doOther _ do

Retail outlets, total doAutomobile dealers do

i 27, 221i 26, 766

14551765

1-310

88,879

144,249102,790

7,6713,437

19, 060

112,163

49, 14945,076

161,82074, 1499,563

11,87232,10640, 619

68, 32429,35824,03838, 966

384.6251.661.571.5

36.6836.453 7. 013 6. 723 6. 503 6. 663 6. 64

5.503 6. 41

3 6. 8336.90

4 5. 754 5. 90* 5. 694 6. 33

4 5. 3394 5. 59

113, 191

89, 890

34, 13024, 8993,925

26, 936

77, 45736,95218, 219

10, 1788,9133,195

12, 433320

i 28, 031i 27, 774

1257U,086i -829

2 90,288

150,897105,6052 7, 9422 2, 989

2 20, 801

296,589

246,490236,502

175,756281,491

2 7,8112 13, 1482 33, 6172 44, 177

2 59, 5362 23, 8532 19, 7892 35, 683

2 401. 32 278. 1251.9271.3

38.2138.0238.53

38.2437.9338.1938.18

6.0037.23

37.6637.68

4 7. 614 7. 834 7. 164 7. 96

4 6. 6774 6. 85

122, 469

98, 169

36, 60227,6094,040

29,918

84, 98240, 30519, 798

11, 5949,7403,545

13, 187336

27, 07926, 776

3031,249-946

79,445

129 56791,9046,3611,22818,183

98,580

46, 65338,588

166,45676, 6697,727

11, 13833,53544,415

59,42723, 33621, 11836,091

397.5270.356.970.3

8.828.659.14

8.858.468.858.75

6.007.51

7.867.90

8.048.337.718.50

7.0077.08

117, 380

94, 732

36, 24525,4674,063

28,957

82,91039, 53219, 265

11, 2209,4363,457

11, 822336

26,97126, 735

2361,067-831

80,556

135,02392,6216,9523,879

17, 613

97,977

46,71138, 026

168,81478,4406,588

11, 37633,67645,093

58,06622,19020,55735, 876

396.5271.354.770.5

6.007.69

7.897.92

8.148.487.618.50

7.1297.58

118, 008

95, 356

36, 32125,7324,096

29, 207

83, 44039,79319, 360

11, 3479,4503,490

11,91633fi

27,34027,197

1431,135-992

79,646

131,70690,8465,7884,754

17, 070

97,170

46, 37637,327

167,50477, 6496,26110,81833,95144,602

58,61723,34920,10335, 268

397.6273.853.570.3

6.007.81

7.987.98

8.178.567.868.50

7.04C7.47

118, 515

95, 850

36, 59925, 8554,084

29, 312

83, 94940,00619, 569

11,4389,4363,500

11, 901338

27,76427, 511

2531,241-988

79,342

135,72593,1106,4523,90818,951

96,167

46,31836,547

168,74878,3106,521

11,00034,09744,439

59,27223,66820,04535,604

401.2276.453.471.4

8.838.669.21

8.838.588.798.81

6.007.93

7.978.00

8.188.467.928.60

7.1937.57

119, 378

96, 478

36, 65026, 2234,076

29, 529

84, 30140, 04719, 668

11,4919,5323,563

12, 177337

28,03127, 774

2571,086-829

90,288

150,897105,605

7,9422,989

20,801

96, 589

46,49036,502

175,75681,4917,81113,14833,61744,177

59,53623,85319,78935,683

401.3278.151.971.3

6.008.15

8.078.08

8.588.847.938.50

7.7207.98

122, 469

98, 169

36, 60227, 6094,040

29, 918

84, 98240, 30519,798

11, 5949,7403,545

13, 187336

28,85828, 692

166965

-799

81,666

131,84792,2106,3714,47416,239

95, 017

45,82035,632

167,71878,0205,96411,25333,68045,771

57,58022,43519,54235,145

398.5276.650.471.5

6.008.46

8.168.13

8.648.788.148.50

7.9148.14

121, 074

97, 402

36, 29127, 3463,991

29,774

84, 53140, 14419, 703

11, 4689,6833,533

12,871333

27,97627,703

2731,092-819

78,320

131,91190,3346,3235,47316,995

95, 620

45,63335,648

167,60078,2156,246

11,06633,48844,909

57,04821,53419,38435,514

399.7278.549.871.4

8.868.659.23

8.868.678.878.84

6.008.69

8.238.23

8.308.558.018.50

7.1647.80

120, 077

96, 892

36, 11926, 9873,970

29, 816

84, 39339, 99019, 652

11, 4599,6913,601

12,499331

27,47327,358

115896

-781

84, 189

141,13197,0636,8494,119

18, 952

98, 229

46,22036, 523

170,96379, 0107,195

11, 65833,45846,648

60, 56623, 61619, 38736, 950

400.9277.650.373.0

6.008.76

8.298.26

7.608.337.688.40

6.7107.20

119, 698

96, 662

36,08826, 8143,951

29, 809

84, 30839, 95619, 586

11,5339,6503,583

12,354331

28,09627,978

118822

-704

80,546

131,78491,7036,4474,28116,407

99,282

45,89336,761

168,51178,9076,49711,11533,38544,845

60,86722,87819,45537,989

402.9276.652.374.0

6.008.75

8.248.19

7.548.067.268.00

6.4807.49

120, 402

97,104

36, 26426, 8503,960

30, 030

84, 80240, 24519, 672

11, 6449,6523,589

12, 302332

27, 91027, 729

181976

-795

77,923

134,00091, 5326,2893,440

18,960

99,537

46, 12237, 024

167, 72478, 0106,094

11, 03433, 41945,480

60, 57222, 66220, 17537, 910

404.9277.153.374.4

8.498.248.86

8.448.448.618.42

6.008.67

8.288.18

8.028.237.438.00

7.0357.97

121, 346

97, 706

36, 45527, 0554,003

30,193

85, 33540, 51519, 760

11, 7789,6313,651

12, 371333

27,56727,380

187888

-701

81,160

139,08695, 2547,6535,112

18,802

101, 580

46,42538, 498

172, 56080,1105,973

12, 90333,49647, 393

60,34622,03519, 94538, 311

405.1276.254.174.8

6.008.66

'8.318.19

7.788.217.558.00

6.7427.86

122, 542

98, 699

36,80927, 3034,040

30, 547

86, 31140, 97919, 936

12, 0309,7033,663

12, 388336

28, 12827, 987

1411,358

-1,217

79, 857

128, 66991, 0295,6954r887

17, 072

106, 495

46,34441, 852

171, 86279, 3485,919

12, 98133, 59745, 595

'61,16723,28319, 63237,884

410.7279.955.575.3

6.008.66

8.328.21

7.618.297.648.00

6.4687.58

123, 092

99, 302

36, 91827, 5384,081

30, 765

86,87641, 70319, 587

12, 1419,7393,706

12, 426337

••28,349'28,204

'145'827

'-682

79, 451

130, 92692, 1686,1424,206

18, 195

110, 400

46, 35144, 673

173, 10679, 3836,286

12, 92533, 71047, 392

63, 41624, 75421,00038, 662

416.3282.457.276.6

8.508.248.89

8.478.498.538.54

6.008.62

8.358.25

7.207.907.488.00

6.4127.56

123, 655

99, 860

36, 90827,8014,104

31,047

87,31541,93419, 601

12, 2929, 7353,753

12, 545337

28, 78628, 651

235606

-371

80,407

140, 01894, 5217,6775,798

20,962

113, 641

46, 81147, 581

175, 62781, 173

6,09113, 23133,92346, 569

64,85124, 79320, 59840, 058

421.6285.757.378.6

6.00

7.037.327.127.90

6.2447.24

' Revised.i Average for Dec. 2 Beginning June 1969, data are revised to include all bank-premises

subsidiaries, and other significant majority-owned domestic subsidiaries; also, loans andinvestments are now reported gross. For complete details see the Aug. 1969 Federal ReserveBulletin. a Average for year. 4 Daily average.

*Ja?I,.1SH10ns °J ian> I?69 are shown in the Mar. 1970 issue of Federal Reserve Bulletin.d"For demand deposits, the term "adjusted" denotes demand deposits other than domestic

commercial bank and U.S. Government, less cash items in process of collection; for loans,exclusive of loans to and Federal funds transactions with domestic commercial banks andafter deduction of valuation reserves (individual loan items are shown gross; i.e., before deduc-tion of valuation reserves).

9Includes data not shown separately. ©Adjusted to exclude interbank loans: be-ginning June 1969, data are reported gross. §For bond yields, see p. S-20.

404-263 O - 70 - S3Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

S-18 SUKVEY OF CURRENT BUSINESS October 1970


1968 1969

Annual

1969


1970


FINANCE—Continued

CONSUMER CREDIT— ContinuedOutstanding credit— Continued

Noninstallment credit, total mil $_.Single-payment loans, total do. ._

Commercial banks doOther financial institutions do .

Charge accounts, total doRetail outlets doCredit cards do _

Service credit _ _ do

Installment credit extended and repaid:Unadjusted :

Extended total doAutomobile paper doOther consumer goods paper doAll other .. do

Repaid, total doAutomobile paper doOther consumer goods paper doAll other do

Seasonally adjusted:Extended, total . do

Automobile paper do __Other consumer goods paper doAll other . . do

Repaid, total.. _ doAutomobile paper ... do. __Other consumer goods paper doAll other do

FEDERAL GOVERNMENT FINANCEBudget receipts, expenditures, and net lending: \

Expenditure account:Receipts (net) mil. $Expenditure (excl. net lending) do

Expend, acct. surplus or deficit (— ) doLoan account:

Net lending ... do

Budget surplus or deficit (— ) doBudget financing, totalt • do

Borrowing from the public doReduction in cash balances. do

Gross amount of debt outstandingt doHeld by the public do

Budget receipts by source and outlays by agency :tReceipts (net) total mil $

Individual income taxes (net) doCorporation income taxes (net) doSocial insurance taxes and contributions

(net) mil. $Other do

Expenditures and net lending, total 9 doAgriculture Department doDefense Department, military doHealth, Education, and Welfare Department

mil. $..Treasury Department doNational Aeronautics and Space Adm doVeterans Administration do

Receipts and expenditures (national income andproduct accounts basis), qtrly. totals seas. adj.at annual rates:

Federal Government receipts, total bil. $..Personal tax and nontax receipts doCorporate profit tax accruals doIndirect business tax and nontax accruals-doContributions for social insurance do

Federal Government expenditures, total... doPurchases of goods and services do

National defense. . doTransfer payments doGrants-in-aid to State and local govts doNet interest paid.. doSubsidies less current surplus of government

enterprises bil $

Less: Wage accruals less disbursements doSurplus or deficit (— ) do

LIFE INSURANCE

Institute of Life Insurance:Assets, total all U S life insurance cos i bil $

Government securities* doCorporate securities* doMortgage loans, total do

Nonfarm . do

Real estate doPolicy loans and premium notes doCash doOther assets do

23, 3019,1387,9751,163

7,7556,4501,3056,408

97, 05331, 42430, 59335, 036

88,08928,01828, 08931, 982

i 153,671U72.802

1-19,131

i -6,030

1-25,161

1 25,161i 23, 100i 2, 061

1 369, 769i 290, 629

U53,671i 68. 726i 28, 665

i 34,6221 21,659

1 178,833i 7, 307

i 77, 373

U0,576i 14, 655

i 4, 721i 6, 858

175.479.337.418.040.7

181.699.578.047.818.411.8

4.1

-6.2

2 188. 642 10. 512 82 132 69. 972 64.17

2 5.572 11.31

2 i 682 7.47

24,3009,0967,9001,196

8,2346,6501,5846,970

102, 88832, 35433, 07937, 455

94, 60929, 88230, 36934, 358

1 187,792i 183,080

i 4, 712

1-1,476

i 3, 2361-3,2361-11,146i 7, 910

i 367, 144i 279,483

1 187,792i 87,249

i 36, 678

i 39,918i 23,948

1 184,556i 8, 330

i 77,877

i 46,599i 16,924i 4, 247i 7, 669

200.695.939.219.146.5

191.3101.378.852.120.213.1

4.6

9.3

22,6489,0737,8791,194

6,9885,4381,5506,587

8,6042,5932,7643,247

7,7052,4292,4692,807

8,6802,6342,8193,227

8,0802,5622,5742,944

15,00916, 800-1, 791

-316

-2, 107

2,107679

1,428

374, 098284, 599

15,0097,230

571

5,2091,999

17, 1161,3386,612

4,0001,577

337667

194.0310.7882.5671.2565.39

5.8012.921.209.52

22, 6529,0757,8821,193

7,0055,4481,5576,572

8,4852,5662,7943,125

7,8612,4902,5292,842

8,6692,7942,7403,135

7,9712,4982,6002,873

20, 41217, 1743,239

-448

2,790

-2, 790-375

-2,415

373, 953284, 224

20, 4129,7765,551

3,0222,063

17, 6221,8576,479

4,0711,594

294691

200.895.638.619.547 0

192.5102.579.852 220 013.2

4 6

8.3

194. 8010.7482.9171.4365.56

5.8113.171.229.53

22, 6659,0257,8371,188

7,0855,5681,5176,555

8,7972,9392,8053,053

8,3032,6612,6822,960

8,6612,8082,7073,146

7,9922,4632,6152,914

11,81117, 580-5, 769

-342

-6,112

6,1124,3881,724

377, 615288, 612

11,8116,636

843

2,3641,967

17, 9231,2766,982

4,3111,296

327691

195. 9310.7383.3671.5765.77

5.8513.411.279.74

22, 9009,0007,7951,205

7,2385,6851,5536,662

8,1732,4332,8172,923

7,5452,3822,4492,714

8,6322,6832,8413,108

8,0122,5032,6232,886

14, 33615, 229-894

-236

-1,130

1,1302,695

-1,565

381, 192291, 306

14, 3367,236

634

4,0782,387

15, 466640

6,051

3,8571,685

267708

196. 6610.7483.7571.7165.92

5.9013.581.299.69

24,3009,0967,9001,196

8,2346,6501,5846,970

10, 0962,4794,0043,613

8,4052,5272,6183,260

8,3442,4722,8383,034

7,9292,4992,5522,878

16,70915, 2371,472

140

1,612

-1,612-2,012

400

381, 220289, 294

16, 7096,7745,527

2,1902,219

15, 097598

6,584

4,1371,552

296718

202.096.938.119 347 7

195 9102 178.853.321 813 9

4 9

6.1

197. 2310.7783.5872.1366.35

5.9013.801.629.43

23,6729,0927,8871,205

7,5395,9321,6077,041

7,4902,1302,6632,697

8,2572,4412,9262,890

8,5212,4792,9253,117

8,1412,4692,7222,950

16, 29716, 558-261

164

-97

97-194

291

380, 502289, 100

16, 29710,6601,127

2,6741,837

16, 394731

6,419

4,2611,650

291726

2 197. 682 10. 962 84. 762 72. 342 66. 62

2 5. 922 14. 06

2 1.242 8. 38

23, 1859,0747,8571,217

6,7895,2101,5797,322

7,1062,2142,2752,617

7,6162,3862,6342,596

8,6252,5363,0183,071

8,2072,5502,7612,896

14, 93814, 999

-61

104

43

-43-139

96

380, 988288, 961

14, 9386,965

645

5,4081,919

14, 894-77

5,953

4,1201,710

299717

198. 5110.9885.0272.5366.84

5.9814.301.208.50

23, 0369,0547,8431,211

6,6455,0621,5837,337

8,2432,5842,7252,934

8,4732,6152,8982,960

8,3922,4962,9222,974

8,1942,5012,7922,901

13, 11916, 294-3, 175

-254

-3,429

3,4292,3141,115

384, 169291, 275

13, 1193,4194,239

3,4362,025

16, 548296

6,377

4,3871,811

325798

195.993.434.819.348.4

197 7102.379.355.323.014 3

5 3

2.5-1.7

199. 4010.9485.3472.6266.94

5.9914.541.408.58

23,2989,1027,8921,210

6,9005,2891,6117,296

8,7732,7762,7923,205

8,3312,6002,7562,975

8,4912,5712,8433,077

8,1952,5272,7292,939

22,02917,8444,186

-200

3,986

-3,986-4, 691

705

379, 316286, 584

22, 02910, 7014,578

4,4192,332

18, 043320

6,531

5,4851,731

332748

199. 0910.8385.1072.7967.12

6.0314.761.268.31

23, 6409,1597,9251,234

7,2735,6331,6407,208

8,8572,6963,0083,153

8,2552,5052,8032,947

9,0042,5953,1833, 226

8,5892,6002,8883,101

13, 98216,333

-2, 351

-108

-2, 459

2,4591,4521,007

382, 932288, 036

13, 9825,258

714

5,8512,159

16, 441320

6,185

4,8091,683

285803

199. 1710.9084.6372.9867.32

6.0614.951.228.43

23, 8439,2398,0051,234

7,4735,7651,7087,131

9,5343,0233,0193,492

8,5412,6692,7713,101

8,6832,5872,9253,171

8,2422,5732,7502,919

22, 64915, 3677,282

-136

7,146

-7, 146-3, 157-3, 989

382, 603284, 880

22,6499,3137,329

3,7672,240

15,503403

6,582

4,9621,748

378728

196.793.534.919.448.9

210.999.776.864.425.114.3

5.3

-2.1

-14.2

199. 6810.7984.6673.1667.50

6.1015.181.418.38

23, 7909,2548,0051,249

7,5095,7271,7827,027

9,4972,9523,1413,404

8,8942,8432,9063,145

9,0652,6853,1243,256

8,6222,7522,8742,996

12,61719, 352

-6, 735

17

-6, 718

6,7185,997

721

388, 214290, 877

12,6176,281

838

3,1842,314

19, 3352,6496,570

4,6301,678

268730

23, 7959,2948,0411,253

7,5085,6641,8446,993

8,9152,5403,1523,223

8,3572,5502,8892,918

8,8092,5373,1683,104

8,5772,6322,9672,978

15, 17217, 429

-2, 257

-66

-2,323

2,3232,716-393

392, 545293, 593

15, 1727,219

484

5,3302,138

17, 4952,2806,059

4,7221,851

282764

89.4

20.049.7

207.799.075.262.925.114.8

5.7

-.4

r Revised. * Preliminary.1 Data shown in 1968 and 1969 annual columns are for fiscal years ending June 30 of the

respective years; they include revisions not distributed to months. 2 Annual data for

1968 and monthly data beginning 1970 are annual statement values.I Revisions for July 1967-Apr. 1969 for budget receipts and expenditures and for Jan.-Mar.

1969 for assets of all U.S. life insurance cos. will be shown later.9 Includes data for items not shown sepaiately. *New series.




1968 1 1969

Annual

1969


1970


FINANCE—ContinuedLIFE INSURANCE— Continued

Institute of Life Insurance— ContinuedPayments to policyholders and beneficiaries in

U S total mil $Death benefits doMatured endowments . doDisability payments __ do.Annuity payments doSurrender values _ doPolicy dividends do

Life Insurance Agency Management Association:Insurance written (new paid-for insurance) :J

Value, estimated total. _ _ mil. $Ordinary (incl. mass-marketed ord.) doGroup. doIndustrial. _ _ . _ do

Premiums collected:Total life insurance premiums do

Ordinary (incl. mass-marketed ord.) —.doGroup doIndustrial . do._

MONETARY STATISTICSGold and silver:

Gold:Monetary stock, U.S. (end of period).. .mil. $_.Net release from earmark§ doExports thous $Imports doProduction, world total.. __ mil. $_.

South Africa ._ _ _ _ doCanada do .United States do....

Silver:Exports _ _ thous $Imports . . doPrice at New York dol. per fine ozProduction:

Canada thous. fine oz..Mexico _ doUnited States . do

Currency in circulation (end of period) bil. $_.

Money supply and related data (avg. of daily fig.):®Unadjusted for seasonal variation:

Total money supply bil $Currency outside banks. . doDemand deposits _ _ _ _ do

Time deposits adjustedl _ ...do...U.S. Government demand deposits f do

Adjusted for seasonal variation:Total money supply do

Currency outside banks do...Demand deposits. ._ _ do

Time deposits adjusted^ doTurnover of demand deposits except interbank and

U.S. Govt., annual rates, seas, adjusted:Total (233 SMSA's) O_.ratio of debits to deposits..

New York SMSA .doTotal 232 SMSA's (except N.Y.) do

6 other leading SMSA'sd1.. do226 other SMSA's do

PROFITS AND DIVIDENDS (QTRLY.)Manufacturing corps. (Fed. Trade and SEC):

Net profit after taxes, all industries mil. $Food and kindred products ...do.."Textile mill oroducts rloLumber and wood products (except furniture")

Paper and allied products _ doChemicals and allied products. doPetroleum refining _ _ doStone, clay, and glass products doPrimary nonferrous metal... doPrimary iron and steel. doFabricated metal products (except ordnance,

machinery, and transport, equip.) . mil. $Machinery (except electrical). .. doElec. machinery , equip. , and supplies doTransportation equipment (except motor

vehicles, etc.) mil $Motor vehicles and equipment doAll other manufacturing industries __do

Dividends paid (cash) , all industries. . . doElectric utilities, profits after taxes (Federal Re-

serve) mil.$

SECURITIES ISSUED

Securities and Exchange Commission:Estimated gross proceeds, total mil. $

By type of security:Bonds and notes, total do

Corporate doCommon stock doPreferred stock do

r Revised. * Preliminary. i Estimated; excludcountries, China Mainland, and North Korea. 21968 not included in figures shown in the 1969 BUdata beginning July and annual total figures excludedistributed to months. Includes $17.2 bil. SG1969 will be shown later.

14, 385. 06, 209. 3

967.2195.6

1, 401. 02, 456. 43, 155. 5

150,495103,94439,8776,674

18, 05213,5103,2011,341

10, 367187

839, 160226, 262

»*1,420.01, 088. 0

94.153.9

252, 147145, 153

2.145

45, 3904 40, 03137, 168

51.0

188.642.0

146.6192.4

5.7

32, 0692, 209

654

635889

3,5255,794

7691,1491,186

1,3202,9472,518

1,0253,2224,229

14, 189

3,002

65, 562

60,97917,3833,946

637

es U.S.SIncludesSINESS

? silver coLI. n

15, 524. 56, 758. 1

952.6204.7

1, 558. 62, 721. 63, 328. 9

157,525111,86339, 2376,425

18, 93313, 1423,4921,299

10, 367755

12, 287236, 905

1, 090. 785.2

3156, 720380,061

1.791

41, 926

~~52,~552~

54.0

198.344.8

153.5198.4

5.6

33, 2482,382

621

640987

3,5915,884

8221,4141,221

1,3263,1382,594

9452,8454,835

15, 058

3,186

52, 546

44,15018, 3487,714

682

R., otheisilver coiiSTATISin. 4 IiRevisions

1,251.2553.567.217.2

132.1226.6254.6

13,0058,7073,788

510

1,5201,125

30095

10, 36717

9,53119, 519

93.96.6

18, 4707,2821.653

3,6974,7606,017

51.5

195.945.4

150.5195.5

4.3

199.045.3

153.8194.5

70.1146.549.772.940.3

3,315

2,832944410

72

* Easteni data foTICS,icludes rfor Jan

1, 279. 1560.476.818.7

131.2226.3265.7

12,4388,8073,094

537

1,5641,155

31198

10, 36729

36427, 052

95.17.0

12,68410, 2891.785

3,5923,2992,912

51.3

197.645.2

152.4194.3

5.3

199.045.2

153.7194.1

72.3153.550.973.041.9

7,994660153

109243884

1,442273335244

324760663

228404

1,2723,452

827

3,958

3,2321,701

65274

i Europr Jan.-Ji

3 Montevisions. 1968-F

1, 280. 5564.982.716.3

133.8230.2252.6

14,13610, 4623,108

566

1,6261,242

28698

10,36725

15019, 817

95.26.5

17,8318,8341.872

3,7043,6313,993

51.7

199.345.6

153.7193.7

4.2

199.145.6

153.6193.5

70.8148.850.672.941.5

5,420

4,7701,282

63020

eanmehlynoteb.

1, 117. 8483.871.714.2

129.8195.2223.1

12,9579,3313,097

529

1,4401,085

26491

10,367-19244

22,600

93.66.8

4,4255,7981.923

2,8773,2603,495

53.0

201.046.4

154.7192.6

5.1

199.345.9

153.4193.4

70.5151.649.471.740.3

4,069

3,0851,390

90283

& 0 rprocecchangcities {Detro

1, 686. 5629.477.916.6

112.2238.3612.1

18,48811,0256,980

483

2,0091,370

393246

10, 367687200

21, 863

89.57.1

4,2567,7441.807

3,541

3,936

54.0

206.046.9

159.1192.4

5.5

199.645.9

153.7194.1

69.4145.749.269.640.8

8,381636157

101254860

1 494179387336

323751653

171765

1,3144,203

779

4,440

3,7691,860

64032

increaseures ass

BS in seasind count, San F

1, 285. 2556.185.319.6

165.1225.7233.4

11,5258,3862,703

436

1,5241,182

238104

11, 36720

15912, 487

102.57.5

8,5785,9361.876

3,797

4,516

51.9

207.146.1

161.1191.7

4.7

201.146.1

155.0192.1

69.4139.950.671.641.9

6,144

5,6282,120

45660

in earmaociated \onal factties notrancisco-

1, 307. 8588.982.217.1

140.0230.9248. 7

12, 6219,0823,017

522

1,5781,191

29790

11,36723

2789,772

88.46.5

10, 3815,6291.896

3,507

4,097

52.0

197.845.9

151.9192.0

7.1

199.346.4

153.0192.0

72.4148.852.074.242.9

6,003

5,5351,334

41750

rked gokvith Eurors. *iesignateOakland

1,448 0633.793.521 3

151.3260.9287.3

14, 09910, 3103,198

591

1,6901,258

33697

11,367-2293

17, 659

94.37.1

5,7827,5871.888

3,616

4,221

52.7

199.746.3

153.4194.9

6.9

201.546.7

154.8194.3

70.7145.750.372.2

'41.4

6,894573109

65212873

1,38834

381213

265648477

165526966

3,767

6,799

5,6452,3851,064

90

K->.o-dollarAt all cod as SMSand Los

1, 387. 6608.685.719.9

153.1254.0266.3

15, 30910, 2924,462

555

1,6421,248

30193

11,367-2272

13, 865

92.8

3,4148,0041.853

3,503

5,008

53.0

204.246.6

157.6198.3

5.3

203.347.0

156.2197.9

72.9149.7'52.3

75.8'42.7

5, 891

5,1902,469'634

67

(0 Seriestransactimmercia3A's.> Angeles

1, 292. 4557.381.018.1

141.4245.2249.4

13, 5429,8983,040

604

1,5811,214

27394

11,36733

24, 06812, 398

4,4234,2981.670

' 3, 497

4, 435

53.7

199.947.3

152.6200.0

6.4

203.947.6

156.2199.6

73.5150.653.478.443.2

9,548

9,0803,441

39969

revised tons and1 banks.^Include-Long B<

1,405.6613.484.321.1

141.2256.2289.4

15, 02010,5493,930

541

1,6591,237

33092

11, 367-1159

11, 602

1,8154,5921.639

2,983

4,312

54.4

201.747.7

154.0201.2

6.5

203.647.8

155.9201.0

73.3149.352.977.542.9

7 96661196

91210913

1 435211402215

324763640

175739

1 1403,873

6,985

5,9642, 368

799222

o reflectto reflec

OTol£ Boston>,ach.

14, 2859,9203,814

551

1,7071,264

35094

11,36723

23929,516

1,2683,7411.687

4,465

54.5

202.748.2

154.5206.9

6.8

204.348.1

156.2206.9

73.3145.3'53.7

79.443.4

530, 8219,473

520, 826522

1,6071,202

30797

11,367

44911, 531

2,8706,6761.798

3,404

54.7

' 202. 848.3

' 154. 5' 212. 8

'7.1

' 206. 048.2

' 157. 8'211.8

75.8162.852.677.942.4

11,117

1.802

204.548.3

156.2217.2

6.9

205.948.3

157.6216.9

the change in accountingt new benchmarks andal SMSA's include some, Philadelphia, Chicago,


20 SUEVEY OF CURRENT BUSINESS October 1970


1968 1969

Annual

1969

Aug. Sept. Oct. I Nov. Dec

1970

Jan. Feb. Mar. Apr. May June July Aug. Sept

FINANCE—Continued

SECURITIES ISSUED— Continued

Securities and Exchange Commission—ContinuedEstimated gross proceeds— Continued

By type of issuer:Corporate, total 9 mil. $

Manufacturing doExtractive (mining) _ . doPublic utility . do

Railroad doCommunication doFinancial and real estate ..do

Noncorporate, total 9 - doU.S. Government __doState and municipal ..do. ..

State and municipal issues (Bond Buyer):Long-term ._ _ _ ._ do.Short-term do

SECURITY MARKETS

Brokers' Balances(N.Y.S.E. Members Carrying Margin Accounts)

Cash on hand and in banks _ mil. $Customers' debit balances (net) doCustomers' free credit balances (net) do

Bonds

Prices:Standard & Poor's Corporation:

High grade corporate:Composited"1 dol. per $100 bond

Domestic municipal (15 bonds) do

U.S. Treasury bonds, taxable^ ..do

Sales:Total, excl. U.S. Government bonds (SEC):

All registered exchanges:Market value mil $Face value do

New York Stock Exchange:Market value doFace value do

New York Stock Exchange, exclusive of somestopped sales, face value, total mil $

Yields:Domestic corporate (Moody 's)_ ... percent

By rating:Aaa . .do. .Aa doA doBaa do

By group:Industrials doPublic utilities .. doRailroads do

Domestic municipal:Bond Buyer (20 bonds) __ _ _ d oStandard & Poor's Corp. (15 bonds) do

U.S. Treasury bonds, taxable O --do

Stocks

Dividend rates, prices, yields, and earnings, com-mon stocks (Moody 's):

Dividends per share, annual rate, compositedollars

Industrials doPublic utilities doRailroads doN.Y. banks _ doProperty and casualty insurance cos . . do

Price per share, end of mo., composite doIndustrials _ _ doPublic utilities.. . doRailroads . do

Yields, composite percent..Industrials doPublic utilities doRailroads. _ _ _ doN.Y. banks doProperty and casualty insurance cos do

Earnings per share (indust., qtrly. at ann. rate;pub. util. and RR., for 12 mo. ending each qtr.) :

Industrials .. dollarsPublic utilities doRailroads do

21,9666,979

5945 281

2461 7662,820

43 59618 02516, 374

16,3748 659

1 1, 0021 9 7901 3 717

76.493.4

72.33

5 669 525 458 55

4 401 944 447 68

3 814 24

6.51

6.186 386.546 94

6 416 496 77

4.474.51

5.25

8.539.244.504.555,828.62

264. 62315 8698.37

101 00

3.222.934.574 503.403.10

17 626 677.25

26, 7446,3561,7216,736

2942,1884,409

25, 8024,765

11,460

11, 46011, 928

19231 7 445i 2, 803

68.679.0

64.49

4 501 185 123 47

3 550 334 123 33

3 646 16

7.36

7.037 207 407 81

7 257 497 46

5.795 81

6.10

8.989.834 614.606 409.44

262. 77313 15

94 5593 90

3.423.144.884 903 723.37

17 696 927.28

1,427362108507

17126181

1,888377794

7941,140

9307 0192,577

68.476.2

65.18

315 76375 63

255 55304 60

245 99

7.37

6.977 237 417 ge

7 297 407 57

6.266 07

6 02

9.039.904 624 676 419.86

259. 67310 9591.1387 16

3.483 185.075 363 803.87

2 427625106545

31272442

1 531353531

5311 168

9507 0392 579

67 273.6

62 64

271 52338 22

210 08269 61

239 42

7 53

7 147 367 568 05

7 427 627 68

6.196.35

6.32

9.049.904 624.676 619.86

252. 76302. 9086.2987.15

3.583.275.355.364.033.61

16.186 897.84

1,93326049

745

31120444

3 487440

1,254

1 254795

9797 2432 753

66.574.9

63.05

397 35466 10

319 84372 88

341 33

7.72

7 337 537 798 22

7 597 917 76

6.136 21

6.27

9.059.904 624.676 61

10.12

263.28314 69

92 2587 36

3.443. 155.015 353 613. 19

2,375453188622

23201533

1 695300853

8531 439

9217 1112 613

65.673.4

61 08

318 32376 13

261 94308 69

263 80

7 76

7 357 587 848 25

7 QI7 947 83

6.586 37

6 51

9.069.924 634.676 61

10.20

252. 78301 6585.9880 73

3.583.295.385 783.953.28

2,53260199

600

15277524

1 908380812

8121 230

9237 4452 803

62 968.7

58 71

382 04526 97

324 20442 89

432 91

8 13

7 727 938 218 65

7 958 398 15

6.796 91

6.81

8.999.924 634 106 70

10.20

248.68299 5484 6276 96

3.623.315.475 333.923.65

18.546 927.28

2 636811

94639

44234275

3 508413

1 314

1 314878

9336 6832 626

62 269 7

58 33

363 31485 34

314 79411 57

304 63

8 32

7 918 158 358 86

8 158 548 38

6 786 80

6 86

9.139 984 644 026 70

10.23

231. 68276 6880 3173 87

3.943.615.785 444.203.84

1 80235785

540

50226323

4 201416

1 198

1 1981 444

8906 5622 463

62 471.7

61 63

283 27365 56

245 86304 65

281 84

8 29

7 938 138 318 78

8 118 478 39

6.166 57

6.44

9.139.974 644 026 70

10.23

244. 45290 0985 3578 55

3.733.445.445 123.613.58

3,5391 416

149906

77306339

3 260461

1 504

1,5041 211

8746 3532 441

62.875.6

62.04

313 51405 30

267. 94344 36

297 74

8.18

7.848 068.178 63

7 988.348.33

6.116. 14

6.39

9.139.984.704.026.70

10.45

243. 53287. 8587.4474 99

3.753.475.385.363.723.66

r 15. 196 906.78

3 170689211

1 109

4162

597

2 721387

1,625

1,6251,046

8065 9852 248

62 871.9

60 89

310 25384 02

275 85337 06

329 77

8 20

7 838 038 228 70

8 008 378 34

6.796 55

6.53

9.109.934 704.026 70

10.45

222. 65263. 9680.0668 32

4.093.765.875.884.144.29

3,909817327600

91 747

231

5 6393 701

974

9741 387

7845 4332,222

61.267.8

57.78

300 39465.04

264.77374 22

448. 20

8.46

8.118.248.498.98

8.198.728.59

7.127.02

6.94

8.969.714.704.026.70

10.48

209. 44248. 1274.9162.07

4.283.916.276.484.294.67

3,389939358

1 103

51354355

3 596819

1,058

1 0582 035

7485 2812 009

59 467. 5

57 37

645 56824 44

608 25743 34

360 69

8.77

8.488 588.769 25

8 559.068.76

6.797.06

6.99

8.959.694.714.026.70

10.48

198. 30236. 8168. 9652. 39

4.514.096.837.674.304.61

r 17. 19b. 9U5.21

1,3101 186

2 2 258

59.070.6

60.59

370 56536. 56

344.53489 26

394 13

8.85

8.448.648.929.40

8.619.019.11

6.406.69

6.57

8.959.704.713.956.70

10.48

212. 90252. 7974.5556.18

4.203.846.327. os4.014.10

' 1,318r 1 226

60.073.8

59.20

311 80442 43

289 98401 69

349 78

8.73

8.138 498.859 44

8.44c 8.83

9.19

6.166.33

6.75

8.949.704.713.796.70

10.48

221. 25264. 2577.1757.02

4.043.676.106.653.834.15

1,6302,036

60.872.7

60.10

396. 30

8.68

8.098.478.789.39

8.408.809.10

6.396.45

6.63

8.939.704.713.796.82

10.48

226. 91272. 90

75.6665.13

3.943.556.235.823.994.01

r Revised. 1 End of year. 2 Because of changes in series, data beginning July 1970are not directly comparable with those for earlier periods.

9 Includes data not shown separately.cfNumber of bonds represented fluctuates; the change in the number does not affect the

continuity of the series.

^Prices are derived from average yields on basis of an assumed 3 percent 20-year bond.OFor bonds due or callable in 10 years or more.c Corrected.




196S 1969

Annual

1969


1970


FINANCE—Continued

SECURITY MARKETS— Continued

Stocks— Continued

Dividend yields, preferred stocks, 10 high-grade(Standard & Poor's Corp.) percent-

Prices:Dow-Jones averages (65 stocks)

Industrial (30 stocks)Public utility (15 stocks)Transportation (20 stocks)

Standard & Poor's Corporation:^Industrial, public utility, and railroad:

Combined index (500 stocks) 1941-43=10..

Industrial, total (425 stocks) 9 -do.,..Capital goods (116 stocks) doConsumers' goods (184 stocks) do .

Public utility (55 stocks) do...Railroad (20 stocks) do

Banks:New York City (9 stocks) doOutside New York City (16 stocks) do_

Property-liability insurance (16 stocks)., do

New York Stock Exchange common stock indexes:Composite 12/31/65=50..

Industrial doTransportation . doUtility doFinance do

Sales:Total on all registered exchanges (SEC):

Market value mil $Shares sold millions

On New York Stock Exchange:Market value .. mil $Shares sold (cleared or settled) millions

New York Stock Exchange:Exclusive of odd-lot and stopped stock sales

(sales effected) millions

Shares listed, N.Y. Stock Exchange, end of period:Market value, all listed shares bil $Number of shares listed millions

5.78

322. 19906.00130. 02250.09

98.69

107.49105. 7786.3366.4248.84

44.6981.72

73.64

55.3758.0050.5844 1965.85

196 3585 312

144 9783 299

2 932

692 3413 196

6.41

301.35876. 72123. 07221. 02

97.84

107. 13103.7587.0662.6445.95

45.3987.73

85.43

54.6757.4446.9642.8070.49

175 2984,963

129,6033 174

2 851

629 4515, 082

6.45

279. 78825. 46115. 76199.24

94.18

103.39100.9083.4459.2042.04

41.8780.41

72.83

52.0954.8541.4541.3465.29

12 392367

9,405246

202

641.5814, 761

6.61

279. 05826. 71113. 35199.06

94.51

103. 97102. 2785.2657.8442.03

44.4083.47

76.91

52.3755.2942.7240.2068.16

12 429355

9,357233

219

627. 5014, 833

6.79

280.44832.51115.12198. 39

95.52

105. 07103.6787.2958.8041.75

44.4785.73

88.52

53.2756.2243.1240 5571.71

17 152488

12,831320

310

661 4414, 918

6.84

281. 02841. 09116. 04195. 47

96.21

105.86104.6889.8459.4640.63

46.0088.09

94.19

53.8556.8442.5941 3671 62

13 352376

10 000249

214

640 1614 986

7.19

259.88789. 22108. 36175. 32

91.11

100.48100.3185.6255.2836.69

43.5582.57

85.85

50.8653 9337.7738 6966 95

13 951430

10 609288

272

629 4515 082

7.02

258.36782.96109.42173.64

90.31

99.4099.7085.4255.7237.62

44.1179.34

83.88

50.6053.5837.5138 7666.19

12 940396

9 412255

221

582 6715 136

7.04

251. 63756.21108.87169. 83

87.16

95.7396.5583.7455.2436.58

45.6477.11

81.25

48.7651.2936.0638.5565.01

11 850'346

9 104238

218

616 3415 227

6.97

260. 36777. 62116. 45174. 32

88.65

96.9595.9785.0959.0437.33

47.4981.37

84.94

49.4651 5336. 8540 7767 37

11 146340

8 815243

213

615 3715 306

6.98

255.71771. 65114. 44167. 46

85.95

94.0193.1882.2857.1936.05

45.2179.47

82.45

47.5149 4734.9939 4964 07

11 130341

8 718240

223

553 8015 348

7.26

227.99691. 96103.19146.29

76.06

83.1680.4771.6551.1531.10

39.6570.75

67.40

41.6543.3329.8535.4854.58

r!0 704••387

8 566?272

258

516. 3915, 552

7.57

224. 18699.3099.15

137.53

75.59

82.9680.7773.1049.2228.94

41.0371.16

69.94

41.2843.4028.5133.7454.21

10 024401

8,000282

226

491. 2115, 677

7.62

223.29712.80102.83125.75

75.72

83.0077.9973.1050.9126.59

42.1272.07

71.10

41.1543.0426.4634.9054.00

••8 554378

6,985250

228

531.0815,823

7.41

229.99731.97105. 36130. 91

77.92

85. 4078.3874.7652.6226.74

44.2176.07

72.48

42.2844.2027.6635.7456.05

8,026299

6,443216

219

555. 4915, 869

7.31

240. 57759.38108. 79141. 25

82.58

90.6684.9679.6554.4429.14

45.2279.49

77.07

45.1047.4330.4336.7460.13

303

FOREIGN TRADE OF THE UNITED STATES

FOREIGN TRADE

Value of Exports

Exports (mdse.), incl. reexports, total mil. $..

Excl. Dept. of Defense shipments do..Seasonally adjusted . . do

By geographic regions:Africa doAsia . doAustralia and Oceania doEurope . do

Northern North America doSouthern North America doSouth America . do

By leading countries:Africa:

United Arab Republic (Egypt). . _ doRepublic of South Africa do

Asia; Australia and Oceania:Australia, including New Guinea doIndia doPakistan doMalaysia... _ do

Indonesia . . .. doPhilippines . doJapan _ do

Europe:France doEast Germany doWest Germany ... do

Italy... doUnion of Soviet Socialist Republics do__United Kingdom do

North and South America:Canada.. do

9 Revised.cfNumber of stocks represents number currently

34,635.9

34,062.8

1, 269. 47, 581. 91, 026. 011,347.3

8, 073. 82, 598. 82,738.6

48.4455.7

874.9717.6301.953.6

167.1436.3

2, 954. 3

1,095.029.0

1, 708. 9

1, 120. 657.7

2, 288. 7

8, 072. 3

used; the

38,005.6

37, 331. 7

1, 391. 68, 265. 2

998.012, 619. 2

9, 138. 02, 761. 92,814.4

67.2505.5

860.0517.1195.251.9

201.1374.3

3, 489. 7

1,195.332.4

2,117.9

1,261.7105.5

2,335.3

9, 138. 0

change i

3, 213. 2

3, 151. 33, 370. 0

130.4738.096.6

1, 110. 7

661.3227.3263.0

5.251.4

77.446.213.44.1

16.332.1

329.8

96.7.4

169.7

119.414.5

203.4

661.3

n numbc

3, 183. 7

3, 110. 43, 323. 4

109.4717.377.1

1, 015. 3

801.6223.6241.8

4.238.2

64.731.616.55.8

15.123.7

304.4

88.01.8

224.3

106.29.0

184.1

801.5

r does n

3, 618. 2

3, 562. 73, 362. 0

123.1769.5110.7

1,210.3

879.2273.9258.8

7.550.8

93.619.618.24.1

28.428.5

352.7

101.95.1

207.8

124.713.4

221.6

879.1

ot

3, 469. 2

3, 413. 23, 365. 1

122.9768.896.0

1, 184. 5

806.3244.1248.5

5.240.7

85.527.931.84.3

28.329.6

335.3

96.34.0

193.2

121.05.1

211.7

806.2

affect9ln<

3, 421. 0

3, 362. 43, 238. 4

141.6776.777.2

1, 159. 3

756.6264.6245.2

4.650.2

65.847.424.97.0

20.629.0

346.5

118.57.5

191.3

108.511.5

197.2

756.6

continui3ludes da

3, 298. 4

3, 238. 03, 305. 2

130.3795.581.7

1, 167. 5

649.4243.8230.1

13.839.9

69.251.223.04.8

26.525.9

356.7

112.41.3

209.1

107.99.1

181.6

649.4

ty of theta not sh

3,432.1

3,388.23, 628. 4

103.4813.991.2

1, 196. 4

740.9247.1239.2

3.435.6

77.653.419.33.8

19.824.7

391.3

117.34.9

204.2

118.37.8

182.7

740.8series,own sep

3, 623. 4

3,581.13, 379. 0

117.9808.690.9

1, 271. 9

783.5269.9280.8

5.440.5

77.558.627.47.8

15.932.5

356.7

108.24.1

241.9

106.511.7

230.7

783.5

irately.

3, 648. 5

3, 599. 13, 449. 7

139.1750.177.2

1, 272. 0

840.9292.3277.0

13.947.2

65.033.523.44.3

16.935.8

349.3

169.52.5

199.3

114.65.6

202.8

840.9

3,942.3

3,908.73, 695. 1

151.0821.493.0

1, 482. 2

866.1270.1258.6

7.048.7

80.061.128.25.2

20.637.4

361.6

143.13.2

330.2

150.913.3

272.6

866.0

3, 770. 7

3, 719. 03, 776. 0

148.9890.7103.8

1, 213. 7

861.7286.3265.6

01054.0

91.740.137.97.0

21.340.6

415.4

117.61.5

227.7

110.78.9

212.8

861.5

3,591.9

3, 549. 33,683.0

132. 1878.0121.1

1, 175. 8

729.2273.8281.9

4.053.8

101.754.323.76.5

29.729.3

415.3

129.62.1

217.6

134.36.1

210.1

728.8

3, 307. 0

3, 266. 13, 601. 8

126.1778.991.8

1,083.3

680.4266.6279.9

5.053.0

74.234.928.45.4

12.430.7

377. 5

107.72.6

208.9

91.46.0

177.7

680.4




1968 1969

Annual

1969

Aug. Sept. Oct. I Nov. Dec.

1970

Jan. Feb. Mar. Apr. May June July Aug. Sept,

FOREIGN TRADE OF THE UNITED STATES—ContinuedFOREIGN TRADE— Continued

Value of Exports — ContinuedExports (mdse.), incl. reexports— Continued

By leading countries— ContinuedNorth and South America — Continued

Latin American Republics, total 9 mil. $Argentina. doBrazil doChile . doColombia .doMexico doVenezuela. _ . __ do

Exports of U.S. merchandise, total doExcluding military grant-aid . . . _do

Agricultural products, total .doNonagricultural products, total do

By commodity groups and principal commodi-ties:

Food and live animals 9 mil $Meats and preparations (incl poultry) doGrains and cereal preparations do

Beverages and tobacco do

Crude materials, inedible, exc. fuels 9 doCotton, raw, excl. linters and waste doSoybeans, exc. canned or prepared doMetal ores, concentrates, and scrap do

Mineral fuels, lubricants, etc 9 doCoal and related products doPetroleum and products do

Animal and vegetable oils, fats, waxes do

Chemicals do

Manufactured goods 9 doTextiles . doIron and steel _ doNonferrous base metals do

Machinery and transport equipment, totalmil. $

Machinery, total 9 doAgricultural doMetalworking doConstruction, excav. and mining doElectrical. do

Transport equipment, total doMotor vehicles and parts do

Miscellaneous manufactured articles doCommodities not classified do

Value of ImportsGeneral Imports, total do

Seasonally adjusted doBy geographic regions:

Africa . doAsia. _ _ doAustralia and Oceania doEurope _ - do

Northern North America doSouthern North America doSouth America do

By leading countries:Africa:

United Arab Republic (Egvpt) doRepublic of South Africa _* do

Asia; Australia and Oceania:Australia, including New Guinea doIndia . doPakistan doMalaysia _ doIndonesia _ _ _ doPhilippines doJapan do

Europe:France doEast Germany doWest Germany doItaly doUnion of Soviet Socialist Republics doUnited Kingdom do

North and South America:Canada do

Latin American Republics, total 9 doArgentina _ doBrazil ._. doChile doColombia doMexico doVenezuela do

r Revised.9 Includes data not shown separately.

4, 699. 1281.4704.6306,7319.2

1, 378. 0655.0

34, 199. 033, 626. 0

6, 227. 227,971.9

3 889.6161.6

2, 463. 1

702.5

3, 540. 7459.4810.3586.2

1 049.9523.9454.4

274.4

3, 287. 0

3, 939. 4522.3610.5600 0

14, 447.4

8 597 2626.8333 6

1 098 52 284 05 850. 13, 370. 2

2 144 2

924.0

33, 226.3

1 122.36 911.4

696 510, 337. 7

9 009 32 259.42 879 3

32 4255.9

495 0312 163 8

240 0174 3435 9

4 054 4

842 35 9

2 721 31 101 7

58 42 058 3

9 005 2

4 288 2190 2669 9205 9264 0909 8949 g

4, 869. 2378.3672 0314.6302.8

1, 449. 5708.2

37,461.636, 787. 7

5, 936. 331, 508. 0

3 732 7199 4

2, 127. 2

713.4

3 569 5280.2822.3711.5

1 130 7636.3433.9

307.6

3, 382. 5

4 554. 7575.5972.5712.0

16, 380. 4

9 865 4644.4343 4

1,247 82, 677. 76, 515. 03, 788. 02 445 9

1, 226. 8

36, 042. 8

1 045 18 275 9

828 310 335.6

10 393 22 518. 42 643 1

37 8243.0

595 1344 173 0

307 2193 6422 6

4 888 3

842 58 0

2 603 41 203 8

51 52 120 6

10 389 9

4 213 6155 6616 3151 4240 4

1 029 3940 1

431.234.458.137.427.1

116.065.6

3, 160. 23, 098. 4

438.42, 735. 9

312 913.8

181.9

57.5

292 417.333.286.3

105 455.744.0

20.5

310.3

410.951.685.266 3

1 320.6

847 546.728 1

106 7238.3473.1245.42^2 6

109.5

2 908 63 179 1

69 4774 7106 8846 4

714 9184 2212 6

1 417 9

83 932 17 5

24 016 146 3

453 8

76 86

217 7112 7

4 6169 0

714 2

324 612 651 912 216 172 083 1

409 136 255 630 825.6

114 657 7

3 140 53,067 2

471 52 671 3

318 016 4

182 8

73 6

274 416 235 375 3

98 454 o39*7

24 6

282 6

395 947 184.568 6

1 334 1

808 847 328 5

102 4229 6

525 3352 2

209 3

131.7

3, 130. 43 053 8

82 0763 479 6

873 7

904 8183 6243 9

3 624.3

54 630 25 1

27 815 330 0

461 8

66 16

209 5103 3

4 1182 7

904 5

348 714 953 520 824 166 882 1

464.637.156 725.930.6

145.964.9

3, 574. 33, 518. 7

646.02,935.5

372 023 9

195.0

80. 1

392 619. 1

137.171 5

103 661.737.4

27.0

297.5

451.954.7

110.867 6

1 505.3

928.055.533 6

114 3257.5

579 1373.6224 6

119.7

3 429 13 ^20 7

93 9778 381 5

979 9

1 025 4217 3253 7

3 923 1

66 126 05 0

32 316 430 6

478 6

72 1g

246 6105 0

6 7205 7

1 024 6

388 412 860 512 323 387 386 6

433.835.760.625.228.5

135.859.8

3, 417. 43, 361. 4

657.82, 761. 7

373.518.5

222.8

88.7

366.814.4

137.262.7

106.765.536.6

34.7

289.9

411.354.2

107.462.2

1,391.4

857.950.031.7

117.0227.9533.4342.7201.0

155.4

2 9B7 03 211 5

96 9657 254 8

861 0

914 6198 4205 8

1 918 0

37 424 36 0

24 616 823 1

410 8

67 77

223 9100 4

5 0181 1

914 5

337 113 063 311 220 587 657 3

446.234.353 934 528 7

137 654 7

3 370 03 311 4

590 82 779 3

334 514 9

195 6

92 8

337 720 2

101 955 3

102 060 237 1

36 3

302 3

431 252 2

121 172 0

1 424 6

845 745 534 4

111 7213 0

578 9318 5

198 6110 2

3 245 63 005 5

114 9710 472 6

875 1

Q8fi 9

232 5OKA K

4 723 9

50 327 6ft ft

23 416 84.Q Q

409 »

74 67

242 290 83 2

173 3

985 9

402 811 953 68 9

27 798 996 3

406.133.347. 122.628.4

120.861.2

3, 255. 93, 195. 5

51 5. 32 740.6

324 111.5

191.3

31.9

346 446.073.968.0

88 350.332.9

31.0

318.5

425.649.1

106.881.3

1, 359. 7

821.545.923.4

111.3221.0

538.1279.1

206.6123.9

3 125 53 249 7

105 9735 i66 0

888 7

845 3241 5242 5

2 624 0

57 634 58 4

30 716 837 3

431 7

69 8g

230 891 815 2

186 8

845 2

393 014 748 214 825 0

104 0104 4

421.733.660 625.228.4

125 255.4

3 379 63,335 7

550. 52 829 1

350 511 6

209 7

39 9

360 239 084 366 0

98 659 137 0

26 6

320 2

433 650 6

112 185 3

1 430 2

895 454 128 1

113 5240 1

534 8*>80 2206 6

113 2

2 944 33 255 9

86 9605 662 3

845 4

845 3237 8260 1

3 819 8

47 825 96 9

18 817 312 9

364 2

69 4g

225 397 98 1

149 1

845 2

416 112 262 012 625 Q

102 8107 0

480.542.261 523.929.8

141 266 1

3 584 53 542 2

563. 13 021 3

314 112 4

183 5

56 7

367 829 3

103 864 6

120 571 443 2

50 4

342 3

447 855 2

115 781 8

1 537 9

969 663 331 4

121 8246 4

568 3307 2229 9

117 0

3 385 93 213 6

106 8765 678 5

952 9

960 3285 6904. A

2 728 0

AQ A

Of) C

ft Cor r\

• 1 0 0

AfiA Q

73 67

248 7117 2

5 4194 3

960 1

429 612 443 4

7 727 9

125 089 7

502.141.966 926.043.9

155 259.6

3 593 53 544 0

553.83,039 7

319 714 1

179.5

47 7

396 837.0

110.472 8

129 583 239.8

31.1

324 8

452 050 5

127.183 2

1 564 3

939 357.932 6

113 6247 0

625 0352 0

212 1

115 4

3 391 43 247 5

104 5752 557 4

979 8

951 2274 7268 1

4 233 6

43 322 25 8

22 114 132 6

474 3

75 57

281 3121 8

3 5179 0

951 0

455 416 1C1 C

20 924 4

129 898 8

461 527.671 020 537.0

142 760 4

3 881 13, 847. 5

567. 13 314 0

325 014 4

190 9

56 3

387 438 297.988 6

134 990 241 6

41 6

354 1

483 953 0

142 190 9

1 765 9

1 001 356 037 4

122 3264 0

764 6350 8

213 4

118 6

3 174 93 360 7

90 6740 154 8

898 5

942 6243 0203 0

2 320 6

38 120 66 2

23 311 542 1

443 9

73 05

239 5104 9

5 3182 8

942 5

377 013 138 311 324 3

114 972 4

483.035.366.027.731.6

150.463.8

3, 723. 33, 671. 5

593.43, 129 9

336 714 3

195.9

59 1

409 933.9

104.777 6

142 698.738.6

55.2

340.9

455 452.0

117.778 5

1 545.9

999 049.540 1

122 7271.6546.9354.8221 6156.0

3, 504. 23 309 6

94.2820.173 9

978.3

1 017 1259 6259 1

2 420.0

60 224 5

7 525 915 140 0

486 1

79 99

269 7115 1

4 6189 0

1 017 0

425 913 064 98 5

25 6105 088 7

482.641.065.832.839.0

143.060.6

3, 530. 33, 487. 6

558.32, 972. 0

370 612.1

214.4

53.0

359 824.570.594.0

141.091.843.1

43.8

326.1

417.344.6

115.170.3

1, 468. 5

977.752.335.7

127.8245.2490.8256.7213.7136.4

3, 312. 03 241. 7

85.8834.287.0

990.0

851.9224.7235.7

1.522.1

57.421.17 1

17 19.9

45 7512 7

77.91.1

269 0114 7

6.5201 7

851.8

372 613.957 813 522 983.287 2

479.036.573.229.229.4

136.670.0

3, 258. 53, 217. 6

528.52, 729. 9

361 514.9

209.3

43.7

359.310.781.193.5

128.588.335.1

40.4

304.5

396.046.4

103.260.8

1, 299. 2

899.049.336.6

114.4236.5400.3247.8205.9119.3

3, 116. 53, 364. 5

76.8860.689.6

860.8

759. 5207.3259. 1

.420.2

60.517.95 6

12.712.753 9

541.9

85.2.6

236 0124. 1

5.1136.5

759.0

385.715.668 310.920.482.086.2




1968 1969

Annual

1969


1970


FOREIGN TRADE OF THE UNITED STATES—ContinuedFOREIGN TRADE— Continued

Value of Imports— ContinuedGeneral imports— Continued

By commodity groups and principal commodi-ties:

Agricultural products, total mil $Nonagricultural products, total do

Food and live animals 9 doCocoa or cacao beans doCoffee _ -_ _. doMeats and preparations doSugar . _ do

Beverages and tobacco doCrude materials, inedible, exc. fuels 9 do

Metal ores _ . . _ doPaper base stocks doTextile fibers _ doRubber do

Mineral fuels, lubricants, etc _ doPetroleum and products do

Animal and vegetable oils and fats doChemicals _ do

Manufactured goods 9 doIron and steel _ doNewsprint doNonferrous metals doTextiles - do

Machinery and transport equipment doMachinery, total 9 _ _ _ do

Metalworking doElectrical do

Transport equipment doAutomobiles and parts do

Miscellaneous manufactured articles doCommodities not classified do

Indexes tExports (U.S. mdse., excl. military grant-aid):

Unit value _ 1957-59 = 100Quantity doValue. _ do

General imports:Unit value doQuantity doValue do

Shipping Weight and ValueWaterborne trade:

Exports (incl. reexports):Shipping weight thous sh tonsValue mil $

General imports:Shipping weight thous sh tonsValue mil $

5 053 628 172.7

4 577 3136 0

1, 139. 7746 5640.1

786.33,345 71, 007. 8

454 8335 1191.8

2, 526. 72 343 2

157 91 129 1

8 162 42 046 5

862 92 022 5

962 4

7 986 93, 688. 4

203 91 492 1

4 298 53 711 6

3 346 11*207 8

112.8172 7194 8

103 9225.6234.4

194 48219 359

282 75121 139

4 954 431,097 5

4 530 8168.2893.9863 8638.2

777.83 460.31, 012. 6

520 8260.1279.5

2, 794. 02 559 9

136 71, 232. 0

7 893 31, 809. 1

938 61 534 61, 019. 0

9 768 24, 489. 0

182.71, 946. 9

5, 279. 24 623 84 127 61 331 1

116.5182 9213.0

107 2236.9254.0

1 199 2861 19 915

1288 6201 21 570

399 02 510 6

363 715 462.094 456 554 1

290 891.640 323.826.9

227.6205 010 299.2

645 9160.374 5

116 893.4

716 8388.216 4

174.0

328.6274 5392 7108.3

118.2183 2216. 5

107 8230.5248.4

18 4751 800

23 8901 913

394 52 737 2

368 65 5

75 391 044 7

67 1

288 892 242 716 825 2

229 2212 9

10 299 7

707 5176 682 6

134 087.2

845 6394.916 9

179.3

450.7400 2

393 4121 5

118.6180.0213.5

107.7248.2267.3

17, 3101,694

26 0201,915

460 92 969 5

430 111.2

103.588 157.393.0

320 7112.852 016 730.4

247.4223 113 9

120 4

698 4169.784 6

129 684.5

964 8436.7

13 0204.3

528 1473 2413 9127 8

119 6205 5245 8

109 1266 2290. 4

19 5291 995

28 3952 052

404 02 585 1

369 416 599.954 534 1

72 7275 290 547 418 426 2

201 4185 5

11 7101 8

620 2137 779 6

122 473 2

873 9383.4

13 2179.1

490 6440 9349 2113 6

U9.6195 5233 9

113 1220 5249.3

20 1161 953

21 9431 727

488 72 758 7

454 727 284 268 478 167 2

313 8104 747 821 325 8

292 1261 9

16 299 7

636 5152 587 5

114 780 1

892 7389 0

15 8171 8

503 6456 8

346 7127 8

122 3188 3230 2

112 0245 5274.9

17 8451 871

28 6661 907

471 72 653 8

431 632 792 682 938 4

68 0271 475 241 820 527 4

274 7250 6

9 6112 2

656 2121 476 7

144 699 7

862 5387.4

12 9151 4

475 1420 5

350 389 2

122 1182 0222 2

112 0249 1279 0

16 4181 g28

24 6821 926

455 52 488 9

411 519 8

103 083 636 1

63 7244 7

72 341 221 420 2

279 3252 4

8 6110 8

569 2109 471 o

124 381 7

839 9381.518 1

154 0

458 4398 0326 889 9

122 9188 7231 9

113 6219 6249 3

17 1461 894

23 9021 767

512 62 873 3

473 018 796 193 856 0

64 8273 768 649 522 926 0

296 6270 9

10 2129 0

696 2137 281 2

146 099 9

957 1449 3

17 5191 8

507 8436 7

380 0105 4

120 9203 7246 3

113 2253 2286 7

17 6212 008

24 3012 029

517 72 873 7

488 817.496.480 684.2

71.5

260 576.943 021.420.7

244.9223 810 1

133.2

691.4150.278 4

145.192.8

1 012 3453.514.6

189.0

558.8477 1

371.3107 5

123.2200 1246.4

114 0251.8287.1

19 3862 013

24 0612 043

440 02, 734. 9

409 215.696.364 949.1

64.9281.2103.241.218.719.2

224.2193.014.2

120.5

692.1164.376.5

134.393.1

909 5415.912.9

168.6

493.6432 9

363 595.6

122.7218.0267.5

114.2235.4268.8

19, 3322,126

21 9281 919

491.43, 012. 7

475.58.7

114.184.373.070.9

298.7114.742.819.418.5

246.8221.521.1

121.1

730.3166.876.3

150.896.5

1 009.6459.714.1

198.7

549.9483 2

418.4111.7

123.3206.6255.3

114.4259.2296.7

22 3122 101

26 6922 151

450.62, 861. 3

436.314.994.497.362.668.2

280.5114.341.215.915.7

213.1188.9

13.1114.1

726.2178.373.4

136.399.2

897.4466.016.4

189.1

431.4352 0449.2113.9

124.0195.5242.5

116.5240.6280.4

454.22, 662. 3

435.112.599.791.274.5

49.8290.7117.939.714.915.2

255.5231.414.9

124.9

654.5171.268. 1

116.889.1

735.0427.410.9

203. 5

307.7239 7

450.4105.7

122.8182.2223.7

117.8223.9263.9

TRANSPORTATION AND COMMUNICATIONTRANSPORTATION

Air Carriers (Scheduled Service)Certificated route carriers:*

Passenger-miles (revenue) bilPassenger-load factor § percent

Ton-miles (revenue), total j mil"Operating revenues 9 mil $

Passenger revenues doFreight and express revenues doMail revenues do

Operating expenses doNet income after taxes. . . do

Domestic operations:Passenger-miles (revenue) bil._Express and freight ton-miles milMail-ton mil es doOperating revenues mil. $Operating expenses do

• Net income after taxes do

International and territorial operations:Passenger-miles (revenue) bilExpress and freight ton-miles milMail-ton miles doOperating revenues mil $Operating expenses doNet income after taxes do

Local Transit LinesFares, average cash rate cents..Passengers carried (revenue) mil..

r Revised. P Preliminary,i Annual total reflects revisions not distributed toI Data include trade in silver ore and bullion form9 Includes data not shown separately. § Pas

seat-miles in revenue service; reflects proportion of se£J Applies to passengers, baggage, freight, express,

113. 9652.6

15, 2497, 7536 2°2

585276

7,248208

87.511,775

5675, 6915,397

83

26. 451,135

7002,0621,852

125

23.66,491

monthly (erly reporsenger-miiting capaand mail

125. 4150.0

16, 8988,7927 120'686296

8,40055

95.951,971

6166,5176,237

11

29.471,384

7292,2752,164

44

24.36,310

iata.ted separ<les as acity actuacarried.

13.4859.8

1,687

9.9916948

3.49105

56

_

24.3479

itely.percentlly sold a

10.2546.7

1,3842,4071 968

17569

2,18893

7.5917247

1,7221 600

34

2.6511154

68558860

24.3520

3f availand utiliz

9.9044.4

1,388

7.6118553

2.2912957

24.4567

bleed.

9.0643.1

1,295

7.1116755

1.9512073

24.7500

cargoJan. 1(

prior trevenionly; tservice

10.7847.9

1,489

1 784'185

852 204

48

8.5417171

1,6821 639-20

2.2411485

537565

—28

25.2528

includin)70, domo 1970 tlics by tyotal reve.

10.4546.1

1,403

8.3715353

2.089459

25.4505

g local seestic serilis trafficpe (as sh(nues, ex]

8.8145.3

1,243

7.0514750

1.7610064

25.4470

rvice, he3S reflect3 was in(>wn for tcsenses, ai

10.6149.9

1,466P 2 152P 1 781

P iQs

P 2 198P 73

8.4417153

p 1, 677p 1 699p-43

2.1711367

p 475v 499

p —30

25.4522

icopter,5 operaticluded in

>tal indusid incom

9.9750.0

1,434

7.77206

54

2.2011265

25.4542

ind otherms betw

the intttry) ande for all {

10.6948.4

1,520

8.1021853

2.6011268

25.5515

carriers)3en the 4jr nation aall traffigroups ol

12.4053.2

1,680

9.4420650

2.9611468

25.6491

and all-8 States1 and te3 statisticcarriers

25.7449

cargo carand Alasrritorials cover salso refle

25.7440

riers. Be<ka and Jseries. Seheduledct nonscl

ginninglawaii;electedservice

leduled

Ttificated route industry covers passenger-



Unless otherwise stated in footnotes below, datathrough 1968 and descriptive notes are as shownIn the 1969 edition of BUSINESS STATISTICS

1968 1969

Annual

1969


1970


TRANSPORTATION AND COMMUNICATION—Continued

TRANSPORTATION— ContinuedMotor Carrier* (Intercity)

Carriers of property, class I (qtrly. total) :Number of reporting carriersOperating revenues, total mil. $__Expenses total _do_ __Freight carried (revenue) mil. tons..

Freight carried, volume indexes, class I and II(ATA):

Common and contract carriers of property(qtrly) average same period, 1957-59=100--

Common carriers of general freight, seas, adj.f1957-59=100-.

Carriers of passengers, class I (qtrly.): §Number of reporting carriersOperating revenues, total mil. $.Expenses, total. .. . .. doPassengers carried (revenue) mil

Class I RailroadsFinancial operations (qtrly.):

Operating revenues, total 9 mil. $Freight do -Passenger do

Operating expenses doTax accruals and rents _ do _Net railway operating income. ...doNet income (after taxes) _ do

Traffic:Ton-miles of freight (net), revenue and nonrev-

enue (qtrly ) bilRevenue ton-miles do

Revenue per ton-mile (qtrly. avg.) cents. .Passengers (revenue) carried 1 mile (qtrly. )..mil_-

TravelHotels:

Average sale per occupied room dollars--Rooms occupied . . % of total.Restaurant sales index same mo 1951 = 100

Foreign travel:U.S. citizens: Arrivals. _ _ _ ._ thous..

Departures doAliens: Arrivals.. . do

Departures... _ do ..Passports issued do

National parks, visits do

COMMUNICATION (QTRLY.)

Telephone carriers:Operating revenues 9 mil. $

Station revenues doTolls, message do

Operating expenses (excluding taxes) doNet operating income (after taxes) doPhones in service, end of period mil

Telegraph carriers:Domestic:

Operating revenues mil. $Operating expenses doNet operating revenues (before taxes) do

International:Operating revenues doOperating expenses doNet operating revenues (before taxes) do

» 1,2899,5139,030

531

175

159.4

170641.1563.8184.3

10, 8609,755

4448,5821,595

683565

4 759. 14 744. 5

1.31013,120

11.3561

117

5,0214,8203,0842,6131,748

42,392

15,0687,5785,6939,0202,55395.1

358.2309.529.6

153.4116.130.6

U,28910, 48210,036

560

184

168.9

170676.4593.6175.0

11,45110,346

4399,0621,729

659461

4 781. 7767.91.347

12, 169

12.3759

119

5,9114 5, 767

3,6024 3, 039

1,82042,403

16, 7818,2136,506

10, 2702,798100.3

391.3330.832.9

179.9132.639.1

167.1

13.0960

118

868636415354137

9,518

1,3012,6982,562

144

183

173.6

70203.5162.148.5

2,8362,546

1182,274

42314098

192.0188.81.3493,390

13.0460

122

589450394314107

4,144

4,2312,0621 6452,632

69198.9

95.784.85.9

45.733.210.4

173.9

13.6668

120

44037130927494

2,826

166.1

12.7555

112

395355256222

771,602

1,2892,7752,683

144

173

167.6

70166.5151.842.4

2,9582,683

1062,363

42916692

201.7197.91.3562,838

11.6644

118

34242924527293

1,040

4,3752 1201,7172,722

734100.3

104 385 17 7

48 336.59.3

172.3

13.2252

107

469402297214125987

178.2

12.9855

114

414423237187153

1,133

1,3792,6402,567

136

180

173.0

70147.6145.139.2

2,8182,569

992,337

42260

515

190.3186.41.3782,571

12.2357

122

496499291244

2461,559

4,3542, 1491,6602,741

732101.0

97.582.89 4

47 534.910.3

122.6

13. 9561

127

480481295245277

1,878

151.0

12.8758

131

509545341289267

3,338

161.2

23,082

22,45824662158

276

2 197. 9

13.8056

125

536731349313

3116,667

4,5432,2271,7532,898

764101.7

106.785.411.3

48.535.910.2

172.8

254.5

12.1753

117

2549,912

2372.8

13.7455

106

1639,969

2 58. 2

126

CHEMICALS AND ALLIED PRODUCTS

CHEMICALS

Inorganic chemicals, production:Acetylene mil. cu. ft.Ammonia, synthetic anhydrous..thous. sh. tons.Carbon dioxide, liquid, gas, and s o l i d - _ i _ _ _ d o _ _ -Chlorine, gas (100% C13) do...

Hydrochloric acid (100% HC1) doNitric acid (100% HNOs) do...Oxygen (high purity)._f mil. cu. ft.Phosphoric acid (100% P3O5) thous. sh. tons.Sodium carbonate (soda ash), synthetic (58%

Na2O) thous. sh. tons.Sodium bichromate and chromate ... .. do _.Sodium hydroxide (100% NaOH) do._.Sodium silicate, anhydrous thous. sh. tons.._Sodium stilfate, anhydrous thous. sh. tonsSulfuricacid (100% H2SOO do._.

15,38512,119.91, 014.18, 444. 5

1, 752.16, 362.1247,9954, 958. 3

4, 595. 7146.0

8, 867. 7633.5

1,482.728, 556.4

14, 20412,713. 51,096. 39,422.0

1,848.66, 254. 3272,8844,915. 5

4, 502. 8149.4

9,618. 7653.8

n, 471.028,727.4

1,1401,007.1

110.4808.6

151.0479.6

23,123379.7

374.912.4

824.450.5

113.02,252.5

1,2031,037.3

99.4786.4

150.2519.3

22, 751410.7

368.812.2

793.849.4

119.72,280.4

1,2421,097.2

93.5811.0

154.3540.8

24,022438.8

410.413.5

840.160.9

130.82,515.2

r Revised. 1 Number of carriers filing complete reports for the year. 2 Preliminaryestimate by Association of American Railroads. 3 Data cover 5 weeks; other months, 4weeks. 4 Annual total reflects revisions not distributed to the monthly or quarterly data.5 After extraordinary items. f Revised monthly data (1957-69) are available.

1,1131,060.0

82.6788.2

145.7528.4

23, 984408.6

349. 611.3

821.263.4

119. 92,424. 7

1,2031,129. 8

80.8845.8

160.8557.3

23,885447.1

419.814.3

858.060.3

120.12, 708. 5

1,228948.0

73.7787.2

152.4517.4

22,535393.9

350.611.3

800.937.4

115.42,302. 6

1,2541,032.5

80.1745.4

149.6506.0

21,807430.4

343.610.5

756.044.5

117.12,312.6

1,3061,165.5

96.5822.5

176.8551.4

23,713458.7

370.412.7

835.252.2

124. 02,465.3

1,3191,139.4

102.3814.3

157.1582. 0

23,325480.3

378.313.6

847.855.0

116.02,530.5

1,2751,128.9

109.5839.2

165.9571.7

24,040465.0

391.413.6

856.865.2

108.02,517.4

1,2201,136. 5r 100. 3r 810. 3

r 161. 5548. 7

23,401422.1

365.412.6

816.8'54.8108.0

• 2,398.4

1,2141,065.5' 104.2r 844.4

' 166.8r 475. 7•23,147'388.1

379.412.7

• 8 89. 3' 39. 1

r 103.4•2,310.7

1,1251.090.1

106. 3811.4

159.6497.2

23, Oil434.2

332.710.7

872.548.6

107.02, 262. 3

Beginning with 1st quarter 1969 reporting period, motor carriers are designated class 1ley have annual gross operating revenues of $1 million or over (1968 data have been restated

t Revisions for 1967 available upon request.

i f t lon the new basis).

9 Includes data not shown separately.




1968 1969

Annual

1969


1970


CHEMICALS AND ALLIED PRODUCTS—Continued

CHEMICALS— Continued

Organic chemicals, production :cfAcetic anhydride mil IbAcetylsalicylic acid (aspirin) doCreosote oil mil gal

Ethyl acetate (85%) mil. IbFormaldehyde (37% HCHO) doGlycerin, refined, all grades:

Production doStocks end of period do

Methanol synthetic mil galPhthalic anhydride - - mil. Ib

ALCOHOL

Ethyl alcohol and spirits:Production mil. tax galStocks, end of period _ _ _ __ _do _Used for denaturation doTaxable withdrawals .» do

Denatured alcohol:Production mil. wine galConsumption (withdrawals) doStocks end of period do

FERTILIZERS

Exports, total 9 thous. sh. tonsNitrogenous materials doPhosphate materials doPotash materials do

Imports:Ammonium nitrate _doAmmonium sulfate doPotassium chloride _ _ _ - . _.doSodium nitrate do

Potash deliveries (KjO) _. do. _Superphosphate and other phosphatic fertilizers

(100%P205):Production thous. sh. tonsStocks, end of period _. do

MISCELLANEOUS PRODUCTS

Explosives (industrial), shipments, quarterly, in-cluding black blasting powder mil. Ib

Paints, varnish, and lacquer, factory shipments:Total shipments mil $

Trade products ._ doIndustrial finishes do

Sulfur, native (Frasch) and recovered:Production thous. Ig. tons_-Stocks (producers'), end of period.. _ __ ...do

PLASTICS AND RESIN MATERIALS

Production:

Therm osetting resins:Alkyd resins mil. IbPolyester resins _ doPhenolic and other tar acid resins doUrea and melamine resins do

Thermoplastic resins:Cellulose plastic materials doCoumarone-indene and petroleum polymer

resins mil. IbStyrene-type materials (polystvrene) doVinyl resins (resin content basis) __ _ doPolyethylene. __ _. . do

U.651.631.2

i 106. 0

i 162. 01 4, 099. 6

347.029.5

580.2i 748. 3

708 1189.2564.481.4

303.5305.6

2 7

18, 9562,607

13, 5841,303

227131

3,557205

4,170

4 149535

1,582 2

2 586 81,427.51,159.3

i 8, 8172,790

1691.6!615 4

11, 096. 81816 1

U87.3

J348 812, 895. 713,215.114 567 7

i 1,748. 037.5

U19.1

i 153. 2i 4,192. 8

344.130.5

i 624. 8774.0

738.3179.7592.785.6

318.5r 318. 8

2 4

16, 5991,799

12, 2291,233

233138

3,829184

' 4,796

4,290448

1 925.0

2 776. 71, 473. 51, 303. 5

8,5683,461

i 628. 8i 667 4

1 1, 123. 8i 770. 5

i 192. 6

i 332. 613,251.613,638.8

15 440 7

144.43.09.0

11.4348.7

26.532.451.758.6

62.8178.252.47.1

28.127.92.7

1,580368914141

92

23515

r 211

316460

261 7149.3112.4

6553,278

51.951 591.261.9

15.0

28 5263.9269.5474 1

129.51.79.3

7.1357.8

31.031.954.158.2

62.2181.442.97.4

23.223.32 6

1,30212595993

165

32814

325

354440

496.6

253 4133.7119 7

6943 294

51 854 797.464 0

15 6

26 6272.4285.4480 3

134.52.9

11.0

16.7381.7

30.330.556.661.1

76.3176.352.78.4

28.328.22.7

1,421108

1,110106

1314

49118

507

379427

234 4119.1115.3

7153,306

61.658 7

106.769 9

14 8

32 0279.0323.6492 3

129.52.7

10.0

10.4355.0

31.430.552.564.3

50.8177.233.76.6

18.018.12 6

1,00410770493

1516

3646

453

347429

186 291 694 6

7553 401

43 154 491.065 1

15 5

29 4276.9311.5486 6

152.13.5

13.1358.7

29.030.556.472.1

53.2179.743.85.9

23.723.72.4

1,31993

1,039122

199

39319

634

393448

512.5

179 985.095.0

7463,461

43.855 687.955 7

14 0

26 5280.2311.5497 7

143.03.46.5

12.7324.8

24.527.552.556.4

42.2164.440.26.2

21.621.42.6

1,27857

1,07978

2516

33616

331

336468

179 085.993 1

7303,530

44 349 485.254 8

11 0

29 9275.5284. 9448 4

136.23.08.8

14.5321.1

26.526.553.561.8

48.5166. 940.77.1

21.621.72.5

1,25361

97787

2217

3779

401

356422

197 6102 894 8

6603 604

45 549 790 552 8

12 0

27 7255'. 1283 2441 8

2.910.0

13.6382.6

27.923.854.363.2

59.8177.146.68.0

24.925. 12 4

1,08810684051

4630

5141

631

393359

390.9

241.6130.4111.2

7213,657

47.758 293.053.8

13 3

25 1269.2316.7472 2

3.08.6

25.5373.7

29.124.959.758.8

57.7181.244.08.6

23.723.62.4

1,23049

951105

5937

5791

621

408276

236 3131.7104 6

6833 642

53.957 9

100.654 9

12 8

27 4276.2338 2484 6

131.53.0

10.2

22.9372.4

28.726.560.464.8

57.8177.346.36.2

24.824.33.0

57910232387

5716

3976

416

381264

251 2142. 9108.3

7203,714

49 259 589.354 7

12 5

96 9288. 2330 2501 1

133.22.89.3

'13.2r 363. 1

28.827.257.961.0

59.2184.048.46.7

26.026.12. 9

2,07892

1,77348

1512

21821

206

364351

475.3

r 281 3r 162. 1r 119.2

6713,738

58 054 585.754 6

11 0

25 6299. 1325 3505 3

132.22.48.0

11.8329.7

'25.3r 25 3

43.459.9

56.9184.845.06.0

24.324.42 8

1,550140

1,148103

106

16416

159

'330r 455

256 0152.7103 2

7173,689

55 349 174.144 7

10 4

25 3272.5298.4503 2

27.924.3

1,414130

1,08674

1015

30413

353

347431

ELECTRIC POWER AND GAS

ELECTRIC POWER

Production (utility and industrial), total tmil. kw.-hr__

Electric utilities, total . doBy fuels _doBy waterpower _ _ do

Privately and municipally owned util doOther producers (publicly owned) do

Industrial establishments, total doBy fuels doBy waterpower _.. do

1,436,029

1,329,4431,106,952222, 491

1,083,117246, 326

106, 586103, 203

3,383

1,552,299

1,441,9391,191,861

250,078

1,171,693270,247

110,360107,076

3,283

142, 630

133,319112,48520, 834

108, 87024, 449

9,3119,050

261

128, 515

119, 469101, 16418, 304

97, 96821, 501

9,0468,813

233

129, 414

119, 980101, 04018, 940

98, 71121, 269

9,4349,184

250

125, 601

116, 46596, 94119, 524

94, 73621, 729

9,1378,869

267

136, 786

127, 357106, 02721,330

103, 58923, 768

9, 4299,144

285

141, 110

131, 732109, 47422, 258

107,21324,519

9, 3789, 070

307

124, 678

116,01095, 97320, 037

94, 33521, 675

8,6688,367

301

132, 333

123, 051100, 97822, 073

99, 87723, 174

9, 2838,978

305

126, 528

117, 44395, 72221, 721

96, 19221, 250

9, 0858,765

320

130, 470

121, 19799, 39421, 803

98, 72222, 475

9,2748,961

312

137, 155

128, 082106, 90621, 176

104, 60623, 477

9, 0728,806

267

149, 700

140, 633119, 72420, 909

115,29125, 342

9, 0678,825

242

r Revised.1 Revised annual total; revisions are not distributed to the monthly data.d*Data are reported on the basis of 100 percent content of the specified material unless

otherwise indicated. 9 Includes data not shown separately,t Revised data for the months of 1968 will be shown later.




1968 1969

Annual

1969


1970


ELECTRIC POWER AND GAS—Continued

ELECTRIC POWER— Continued

Sales to ultimate customers total (EEI) ''nil kw -hrCommercial and industrial:

Small light and power§ doLarge light and power § do

Railways and railroads doResidential or domestic doStreet and highway lighting doOther public authorities do _Interdepartmental do

Revenue from sales to ultimate customers (EdisonElectric Institute) mil $

GAS

Manufactured and mixed gas:

Residential do

Sales to consumers total? mil thermsResidential doIndustrial and commercial do

Revenue from sales to consumers total 9 mil $Residential do

Natural gas:Customers end of period total 9 thous

Industrial and commercial do

Sales to consumers total 9 mil thermsResidential do

Residential doIndustrial and commercial do

1,202,3211 265, 151i 518,834

1 4, 540^367,692i lO 302»32,162

1 3, 640

18, 579. 9

57954336

1 466825617

129 081.445 9

39 95036 6723 231

143, 52144 70192 594

8 644 94 476 83 946 4

1,307,178

286, 686557, 221

4,531407, 922

10 77235, 8614,186

20, 139. 3

57553836

1 519825667

130 680.348 1

40 76937 4133 307

154, 43047 12Q91 519

9 406 64, 800. 14 389 6

118, 124

27, 37048, 022

34838, 103

8213,073

385

1, 830. 9

117, 375

27, 28248, 257

34137, 149

8783,078

391

1, 825. 1

56753135

17964

114

16.17.98.0

39, 87636,6813,148

29,4834,067

23,948

1 481 4542.0891.4

110, 128

24, 61948, 418

36532, 335

9483,075

369

1, 705. 8

106,862

23, 23247, 080

37931, 823

9883,007

352

1, 653. 8

111, 506

23, 65147, 190

44335, 759

1,0443,063

357

1, 715. 1

57553836

408216184

34.620.913.1

40, 76937, 4133,307

39, 33911, 90525 936

2 453 21,241.51, 152. 9

116, 941

24,46446,096

45341,4041,0323,122

369

1, 798. 8

113, 452

23, 98245, 583

40339,068

9643,087

365

1, 757. 5

111, 774

23,60947,041

41536, 307

9383,079

386

1, 721. 0

57653441

644398233

54.336.017.4

41, 33837, 9383,355

54,23622,52830, 192

3, 732. 02, 175. 81, 486. 5

109, 247

23,56447, 030

37634, 007

8913,005

374

1, 697. 8

108, 692

24, 33947, 970

38431, 745

8393,032

383

1, 708. 8

113, 876

26, 58849, 231

36333, 302

8173,182

393

1, 795. 7

FOOD AND KINDRED PRODUCTS; TOBACCO

ALCOHOLIC BEVERAGESBeer:

Production mil bblTaxable withdrawals doStocks, end of period do

Distilled spirits (total):Production mil tax galConsumption, apparent, for beverage purposes

mil wine galTaxable withdrawals mil tax ^alStocks end of period doImports mil proof gal

Whisky:Production mil tax galTaxable withdrawals doStocks end of period doImports mil proof gal

Rectified spirits and wines, production, totalmil proof gal

Whisky doWines and distilling materials:

Effervescent wines:Production mil wine galTaxable withdrawals doStocks end of period doImports ' do

Still wines:Production _ doTaxable withdrawals doStocks end of period doImports... _ _ do

Distilling materials produced at wineries do

DAIRY PRODUCTS

Butter, creamery:Production (factory) _ mil. IbStocks, cold storage, end of period doPrice, wholesale, 92-score (N.Y.) $ per Ib

Cheese:Production (factory), total mil Ib

American, whole milk do

Stocks, cold storage, end of period doAmerican, whole milk do

Imports doPrice, wholesale, American, single daisies (Chi-

cago) $ per lb_.

122. 41111 4211.56

238 33

1344 07147 63956 4475.45

178 0595 28

904 3566 50

110 5666 71

12 1710 295 262 23

222 89181 52268 2819.98

373 08

1, 164. 8117.4.678

1 938 21 273 8

381.0318 7168 2

.548

127. 32116.2711.90

229 34

i 361 67164 55991 4287 08

169 87108 01938 4674 29

r H6 4968 02

15 80r 13 86

6 192 41

277 81197 23306 3622 28

403 32

1, 121. 188.6685

1 985 91 266 4

317.5265 4130 0

.603

11.9811.4413.12

12 01

28 4113 90

979. 915.81

7.718.38

931. 475.10

9 095.27

1.401.196.77.14

8.0316.88

158.761.71

19 67

77.1185.6.688

167.3110.2

386.2325 9

9 6

.606

11.6110.8013.05

17.70

27 7915.19

979. 246.73

12.2210.14

930. 505.89

10.045.87

1.161.306.65.15

57.8116.46

193. 871.75

118.03

67.7155.3.704

155.096.2

369.5309.0

12 5

.608

10.8110.1412.81

22 75

33 0317 82

981 0211.47

16.0312.80

930. 9310 29

11.907.10

1 701.836 40.31

126. 4519.31

293 132.33

161 97

76.7125.2.693

153.491.9

350.9294.614 3

.621

8.548.28

12.38

19.84

33 6614 17

983.869.03

14.009.80

932.357 97

8 995.15

1 671.556 45.29

55.8516 01

326 972.50

52 16

71.4104.3

687

146 185.4

328.7274 8

3 9

.630

9.629.24

11.90

20.87

42.6412.19

991. 4210.84

15.368.06

938.467.30

8 174.27

1 972.046 19.27

9.4917.90

306 362.65

25 52

90.388.6.696

168.1100.9

317.5265.420 8

.636

9.568.47

12.43

20.55

25.7112.40

998. 085.66

15.308.10

944.664.67

8.114.22

1.811.816.48.11

4.0818.44

290 911.76

7 62

99.977.4.686

168.5107.6

298.0249.610 9

.647

9.318.04

12.99

20.28

25 0711.32

1.002.985.46

14.968.27

949. 154.83

8.444.86

1.711.276.82.10

3.8716.36

274 561.65

6 55

93.081.3.687

160.2103.0

285.7238.010.8

.659

11.8410.3513.46

21.26

30.9816.10

1,005.667.55

15.6910.64

951.646.66

11.076.58

2.061.647.15.12

4.6020.64

256.072.23

6.34

105.691.6.688

187.4120.4

286.2238.916.0

.663

12.4410.6614.12

20.11

29.9214.83

1,008.957.03

15.219.88

955. 476.22

10.856.57

2.021.277.80.15

2.9816.76

240.992.24

2.85

109.1114.3.707

194.4130.9

308.9257.711.5

.646

12.4511.4514.20

18.16

28.3013.23

1,010.846.28

12.857.79

959.535.49

8.154.36

1.801.378.10.14

3.4715.10

226.632.42

2.15

116.7147.0.708

215.6149.3

335.8281.0

9.4

.632

13.4011.9014.69

16.29

29 3014.72

1,012.997.29

10.158.76

959. 736.34

9.164.71

1.751.568.15.13

2.5017.44

207 102.37

1 29

112.4186.0.707

215.4150.0

370.3315.210.9

.634

12.3811.8714.18

12.89

11.051, 013. 73

6.89

9.126.72

961. 125.96

7.654.27

1.411.248.27.09

3.1514.44

196 382.20

4 45

92.5203.5.708

199.3136.6

384.3325.910.8

.636

5.97

5.15

.10

2.13

81.1'199.2

.708

181.5120.6

-366.8'308.9

11.8

.636

173.5.713

351.2290.0

.640p Revised. » Annual total reflects revisions not distributed to the monthly data. § Data are not wholly comparable on a year to year basis because of changes from one classi-

fication to another. 9 Includes data not shown separately.




1968 1969

Annual

1969


1970


FOOD AND KINDRED PRODUCTS; TOBACCO—Continued

DAIRY PRODUCTS— Continued

Condensed and evaporated milk:Production, case goods:

Condensed (sweetened) mil. IbEvaporated (unsweetened) - - do

Stocks, manufacturers', case goods, end of period:Condensed (sweetened) mil. IbEvaporated (unsweetened) _ - - - do

Exports:Condensed (sweetened) doEvaporated (unsweetened) . do__ _

Price, manufacturers' average selling:Evaporated (unsweetened) $ per case _

Fluid milk:Production on farms mil. IbUtilization in mfd dairy products do _Price wholesale U S average $ per 100 Ib

Dry milk:Production:

Dry whole milk mil. IbNonfat dry milk" (human food) _ do

Stocks, manufacturers', end of period:Dry whole milk doNonfat dry milk (human food) . __ do _

Exports:Dry whole milk doNonfat dry milk (human food). _ _ do

Price, manufacturers' average selling, nonfat drymilk (human food) $ per lb_.

GRAIN AND GRAIN PRODUCTS

Exports (barley, corn, oats rye, wheat),., .mil. bu._

Barley:Production (crop estimate) doStocks (domestic), end of period __do_ .

Off farms doExports including malt§ doPrices, wholesale (Minneapolis):

No. 2, malting $ per bu__No. 3 straight do

Corn:

On farms doOff farms do

Exports including meal and flour doPrices, wholesale:

No. 3, yellow (Chicago), $ per bu.Weighted avg., 5 markets, all grades do

Oats:Production (crop estimate) mil buStocks (domestic) end of period total do

On farms doOff farms do

Exports including oatmeal doPrice, wholesale, No. 2, white (Chicago)

$ per bu

Rice:

California mills:Receipts, domestic, rough mil IbShipments from mills, milled rice doStocks, rough and cleaned (cleaned basis), end

of period mil Ib

Southern States mills (Ark., La., Tenn., Tex.):Receipts rough from producers mil IbShipments from mills milled rice doStocks, domestic, rough and cleaned (cleaned

basis), end of period mil IbExports... _ . doPrice wholesale Nato No 2 (N O ) $ per Ib

Rye:Production (crop estimate) mil buStocks (domestic) end of period doPrice, wholesale, No. 2 (Minneapolis) _ _ $ per bu-_

Wheat:Production (crop estimate) total mil bu

Spring wheat doWinter wheat do

Distribution do

Stocks (domestic) end of period total doOn farms doOff farms do

87.41,360.0

2.199.1

42.433.7

7.26

117, 234' 57, 997

5.24

79.81, 594. 4

7.679.0

18.6151.0

.224

1, 267. 4

2 423. 0371.6247 7123 917.8

1.181.18

2 4 393

4 2333 276'957

594 0

1.111.11

2 939784661123

11 6

<.72

2 104. 1

2 0201 376

312

7 0864 774

2 0134 163

087

2 23 424 3

* 1. 14

2 1 5762 341

2 i 2351 444

1 346581764

84.91, 413. 8

1.9105.0

52.137.1

7.50

116, 200' 57, 167

5.49

66.11, 431. 7

6.683.9

15.6111.6

.235

1,059.0

2 417. 2420.1258 0162 1

8.3

1.121.12

2 4 578

4 3133 320

993553 5

1.211.19

2 950884723161

7 6

«.67

2 91 3

2 0121 515

270

r 6 6054 818

1 6954 183

085

2 31 429 91.17

2 1 4592 311

2 1 1481 275

1 531*608923

7.3135.4

3.9211.2

4.02.0

7.51

9,673r 4, 802

5.39

4.9112.0

8.2150.9

1.45.0

.234

90.3

.1

1.001.00

54.8

1.281.22

.7

.61

6743

73

r gig

333

681291084

1.06

8.5101.3

3.0194.6

8.22.8

7.51

9,165r 4, 138

5.68

4.583.1

7.1130.5

1.36.4

.236

102.2

497.4306 6190 8

4

1.061.06

3 i 1133 7283 38564 5

1.191.15

1 023*830194

7

.62

20987

127

1 636438

1 410254085

38 31.07

407

1 870752

1,119

8.993.5

3.0147.7

6.94.2

7.53

9,138r 4 068

5 85

4 679.0

6 7107 9

1 28 8

.236

103.6

.7

1.081.08

55 3

1.161.17

7

33659

284

1,687538

1,894375

.086

1.12

5.983.6

2.2113.6

4.43.4

7.59

8,691r 3 670

5 92

5 272 0

5 790 2

510 4

.237

123.6

.3

1.081.07

79 6

1.151.12

4

3644

266

602450

1,862349

.086

1.13

3.9108.5

1 9105.0

62 4

7.62

9 170r 4 306

5 89

5 2101 5

6 683 9

77 4

.237

100 8

420.1258.0162.1

.2

1.081.07

4 3133 320

99348 6

1.151.12

884723161

4

7947

270

424461

1,695362

.086

29.91.14

340

1,531608923

(6)6 102 1

5 790 9

(1)2 3

7.75

9 4124 6495 81

5 1102 5

5 881 1

1 525 7

.238

97 6

.1

1.061.06

40.2

1.221.19

3

71

6360

250

326406

1,508235

.085

1.15

(8)6 96.2

(8)6 85. 1

(i)3.2

7.76

8 8404 5435 69

4 7106 8

5 681 8

3 829 2

236

107 1

.2

1.061.06

50.3

1.231.22

1.0

8767

241

280374

1,322337

.085

1.16

(6)6 107 2

(61

e 88 4

12 3

7 77

10 0535' 2875 55

6 1132 2

4 780 6

1 414 2

237

93 9

326.4192.8133.6

.1

1.071.07

2 9892 222

76844.3

1.221.21

673529144

.5

7863

228

330373

1,176306

.085

24.61.18

338

1,195454741

(6)9 114. 0

(6)6 79. 6

(i)4.4

7.85

10 3305 5245 51

6 1148 4

5 1101 4

1 010 7

.262

100.7

.1

1.101.09

40.0

1.261.25

.9

.67

12739

280

269423

931188

.085

1.18

(8)

• 133. 4

(6)6 130. 2

(03.6

7.96

11 0196 0675 39

7 2185 7

6 6138 7

1 09 0

.269

104.6

6.5

1.151.15

50.0

1.301.29

.4

.68

244171

136

110335

717366

.085

1.20

(8)6 136. 5

(8)

8 173 2

(i)1 8

8.04

10 750e'i4o5 33

7 3179 9

8 0159 0

714 2

.276

102.5

3 232. 13 132. 13100.0

7.8

1.161.16

1,9231,403

52040.0

1.341.32

348933453145

.5

.66

281258

249

44220

504499

3 21.31.18

315

388033053575

(6)6 117 5

(6)

* 192 7

o2 5

8.11

10 1625 5835 45

6 5152 3

9 3154 o

619 9

.273

117.4

8.3

1.111.12

58.7

1.381.32

.5

.67

303302

188

95291

318371

1.05

(6)

6 103 1

(8)

6 195 9

(i)3 1

8.06

9 7325 013r 5 57

5 8124 5

9 4165 5

734 1

.2713

111.5

8.1

1.141.14

43.9

1.47'1.40

.5

.72

161130

184

1,049267

745231

1.08

9 250

5 79

7 410. 3

1.191.18

M,188

1.501.46

7891

.76

785.0

736.2

1.10

7 1 3607251

71,109

T Revised. i Less than 50 thousand pounds. 2 Crop estimate for the year.3 Old crop only; new crop not reported until beginning of new crop year (July for barley,

oats, rye, and wheat; Oct. for corn). « Average for 11 months; no price for Nov.

5 Average for Jan.-Sept. 6 Condensed milk reported with evaporated to avoid disclosingoperations of individual firms. 7 October 1 astimate of 1970 crop.

§ Excludes pearl barley. 9 Bags of 100 Ibs.




1968 1969

Annual

1969


1970



GRAIN AND GRAIN PRODUCTS— Con.

Wheat— ContinuedExports total includin"1 flour mil bu

Wheat only do

Prices, wholesale:No. 1, dark northern spring (Minneapolis)

$ per bu_-No. 2, hd. and dk. hd. winter (Kans. City) .doWeighted avg., 6 markets, all grades do

Wheat flour:Production:

Flour thous sacks (100 Ib )Offal thous sh tons

Grinding^ of wheat thous buStocks held by mills, end of period

thous. sacks (100 lb.).-Exports doPrices, wholesale:

Spring, standard patent (Minneapolis)$per 100 lb_ .

Winter, hard, 95% patent (Kans. C i t y ) _ _ d o

LIVESTOCK

Cattle and calves:Slaughter (federally inspected):

Calves thous animalsCattle do

Receipts at 38 public markets _ _ __ _do ...Prices, wholesale:

Beef steers (Chicago) _ _ _ _ _ _ $ per 100 Ib -Steers, stocker and feeder (Kansas City) . .doCalves, vealers (Natl. Stockyards, 111.). .do

Hogs:Slaughter (federally inspected)., thous. animals..Receipts at 38 public markets doPrices:

Wholesale, average, all grades (Sioux City)*$per 1001b._

Hog- corn price ratio (bu. of corn equal in valueto 100 Ib. live hog)

Sheep and lambs:Slaughter (federally inspected). ..thous. animals.-Receipts at 38 public markets _ doPrice, wholesale, lambs, average (Omaha)*

$per lOOlb.-

MEATS AND LARD

Total meats:Production (carcass weight, leaf lard in), inspected

slaughter mil. lb._Stocks (excluding lard), cold storage, end of

period _ _ mil. Ib

Tmnorts fmpit ind mp t t' }~ c\

Beef and veal:Production inspected slaughter doStocks, cold storage, end of period doExports.. doImports doPrice, wholesale, beef, fresh, steer carcasses, choice

(600-700 Ibs.) (New York) $per lb~Lamb and mutton:

Production, inspected slaughter mil. lb_.Stocks, cold storage, end of period. do

Pork (including lard), production, inspectedslaughter mil Ib

Pork (excluding lard) :Production inspected slaughter doStocks, cold storage, end of period doExports. do ...Imports... __ . doPrices, wholesale:

Hams, smoked composite $ per l b _ _Fresh loins, 8-14 Ib. average (New York) ..do

Lard:Production, inspected slaughter mil. lb._Stocks, dry and cold storage, end of period__doExports do _ .Price, wholesale, refined (Chicago) $ per lb_.

POULTRY AND EGGSPoultry:

Slaughter (commercial production) mil. Ib _Stocks, cold storage (frozen) , end of period, total

mil. lb_.Turkeys . do

Price, in Georgia producing area, live broilers$ perlb..

r Revised.i Annual total reflects revisions not distributed to t_

receipts at 28 public markets. 2 Beginning Jan. 1

642.1587.8

1.791.521.77

254, 1854,510

569, 649

4,63823, 264

5.9275.449

3,87629 592

i 11,699

27.6525.8933.83

74, 789i 15, 932

19.08

18.0

10, 888i 2, 934

26.58

32, 714

625508

1,594

18, 270304

291,129

.473

54514

13, 899

11, 33025692

324

.537

.509

1,86294

175.112

8,915

417317

.131

le months969, quota

489.2439.9

1.801.481.75

254, 0944,558

567, 956

4,59521, 130

5.9235.438

3,63730, 536

1 12, 715

30.4829.3037.29

75, 682115,415

23.65

20.4

10, 070i 2, 704

28.53

33, 370

637571

1,685

18, 87436328

1,1942.492

51016

13, 989

11,563211152316

.580

.575

1,75570

262.145

9,492

307192

.140

; reseipts otions are

34.532.4

1.731.441.66

21,455377

47, 974

"""919"

6.0255.488

2712,608

957

30.9729.2034.00

5,7081,095

26.95

22.9

797230

28.62

2,650

51340

188

1,570273

2148

.498

3815

1,041

860168

721

.614.609

1315523

.150

897

324237

.155

ata for 1.on carlol

36.532.9

1.791.481.72

22, 201387

49, 519

4,3911,534

5.9135.413

3082,7241,203

29.8528.3734.00

6,6111,266

25.98

21.7

915291

27.75

2,917

55047

174

1,678311

2131

.478

4516

1,195

9821741124

.592

.616

1545622

.148

949

423329

. 145

68 represrather tl

46.940.5

1.821.531.75

23, 357407

51, 894

2,75i

5.9505.488

3292,8871,380

29.1028.8134.00

7,1001,374

25. 49

22.1

931303

28.38

3,170

61262

165

1,805342

2120

.460

4717

1,318

1,0892022027

.625

.608

1675830

.165

1,048

539436

.135

entlan

43.238.4

1.831.521.76

22, 170385

49, 344

~~2,~ 052*

5.9885.475

2812,3681,130

28.7129.3035.00

5,8251,146

25.79

23.4

730218

27.50

2,617

63551

100

1,478343

262

.457

3717

1,102

9062211323

.628.622

1424842

.170

812

390284

.130

l.c.l. b*Ne

51.648.1

1.881.521.78

23, 068402

51, 348

4,5951,499

6.0005.488

3022,5681,052

28.8629.5537.50

6,3441,276

26.86

23.6

798213

27.50

2,872

63743

122

1,632363

281

.468

4216

1,199

998211

527

.674

.614

1457013

.169

840

307192

.120

asis as pw series.

56.951.7

1.861.531.75

21,960383

48,905

~~27232~

6.0005.513

2902,653

965

29.2529.4438.00

6,1701,166

27.52

23.5

855193

28.88

2,892

65931

173

1,696378

3135

.488

4517

1,151

951210

419

.679

.657

1446525

.159

761

272162

.140

DeviouslyMonthly

55.651.4

1.931.531.72

21,015357

47, 424

1,726

6.0635.538

2392,318

850

30.2531.3138.00

5,5701,003

28.23

24.0

742139

28.75

2,537

72132

155

1,460401

2108

.487

4018

1,011

844237

433

.681

.626

1216238

.159

653

250133

.135

data for

49.044.6

1.881.491.73

21,347372

47, 089

4,2371,860

6.0885.525

2902,477

983

31.9233.3643.50

6,4151,182

25.89

22.7

859169

28.75

2,821

74333

175

1,594390

3123

.512

4722

1,180

985269

433

.677

.578

1396737

.185

742

223101

.140

earlier j

59.754.4

1.911.541.75

20, 756352

45, 834

2,238

6.1005.513

2632,545

927

31.5332.4042.50

6,6781,253

24.05

20.7

903161

26.00

2,920

81137

143

1,616380

394

.506

4821

1,255

1,045329

432

.566

.562

1537513

.165.

786

20882

' .125

rears wil

47.643.4

1.891.531.75

19,826347

44,500

1,837

6.0755.513

2202,493

990

30.3631.3642.00

5,8771,156

23.28

19.4

795185

29.00

2,737

81542

112

1,580363

370

.488

4119

1,116

936351

429

.566

.581

1306530

.160

780

21474

.130

I be show

54.248.3

1.931.451.76

19,892353

44,126

4,2232,523

2102,615

997

30.6130.84

5,6851,153

23.87

19.2

841242

29.50

2,770

72841

148

1,643327

399

.499

4220

1,085

897304

432

.623

1366519

921

25095

.120

n later.

49.947.9

1.921.421.71

' 19, 991350

' 44, 700

863

2312,642

927

31.3529.52

5,7741,106

23.57

19.3

829230

28.38

2,771

67131

171

1,644317

3122

.517

4123

1,086

905255

532

.647

132-66

38

'999

322157

.125

59.056.3

1.861.541.80

21, 393372

47, 463

1,164

2322,538

971

30.7428.76

6,0451,088

21.12

17.1

789225

27.12

2,731

'60743

167

1,582'300

2129

.505

39'23

1,111

924'217

524

.572

1355437

984

' 411'240

.120

1.931.621.87

1,010

30.7628.99

1,303

20.43

14.3

244

26.75

592

298

.488

21

214

.560

514341

.120




1968 1969

Annual

1969


1970


FOOD AND KINDRED PRODUCTS; TOBACCO— Continued

POULTRY AND EGGS— Continued

Eggs:Production on farms mil. casesGL-Stocks ,cold storage, end of period:

Shell thous. casesO..Frozen. _ _ mil. Ib

Price, wholesale, large (delivered; Chicago)$ per doz__

MISCELLANEOUS FOOD PRODUCTS

Cocoa (cacao) beans:Imports (incl. shells) thous. Ig. tons..Price, wholesale, Accra (New York) $ per lb._

Coffee (green):Inventories (roasters', importers', dealers'), end

of period thous bagsd"Roastings (green weight) do

Imports, total doFrom Brazil ._. do

Price, wholesale, Santos, No. 4 (N.Y.)..$ per l b _ _Confectionery, manufacturers' sales mil. $._

Fish:Stocks, cold storage, end of period mil. lb__

Sugar (United States):Deliveries and supply (raw basis) :§

Production and receipts:Production thous. sh. tons..Entries from off-shore, total 9 do

Hawaii and Puerto Rico do

Deliveries, total 9 . doFor domestic consumption do

Stocks, raw and ref., end of period do

Exports, raw and refined sh. tons_.

Imports:Raw sugar, tota!9 thous. sh. tons__

From the Philippines _ doRefined sugar, total do

Prices (New York):Raw, wholesale $ per lb_.Refined*.

Retail (incl. N.E. New Jersey)- — ! per 5 lb__Wholesale (excl. excise tax) . _ _ _$ per lb. _

Tea Imports thous. lb._

FATS, OILS, AND RELATED PRODUCTS

Baking or frying fats (Incl. shortening):Production mil. lb._Stocks, end of period© do

Salad or cooking oils:Production doStocks, end of period ©_ _ do_

Margarine:Production _ _ _ _ _ _ d oStocks, end of period© doPrice, wholesale (colored; mfr. to wholesaler or

large retailer; delivered) $ per lb._Animal and fish fats:A

Tallow, edible:Production (quantities rendered)- mil. lb._Consumption in end products doStocks, end of period 1 do

Tallow and grease (except wool), inedible:Production (quantities rendered) doConsumption in end products doStocks, end of period f _ do

Fish and marine mammal oils:Production doConsumption in end products doStocks, end of period 5. do

Vegetable oils and related products:Coconut oil:

Production: Crude mil. lb_.Refined do

Consumption in end products doStocks, crude and ref., end of period f doImports do

Corn oil:Production: Crude _. do

Refined doConsumption in end products doStocks, crude and ref.. end of npriodf do .

192.5

5972

.372

228.2.344

5,07621, 165

25, 3778,318.376

1,756

285

4,3956,6801,707

11,08910, 9272,961

1,320

4,8791,075

117

.075

.624

.101

155, 335

3,311.9142.7

2, 995. 979.4

2, 140. 949.1

.256

539.1517.349.6

4, 745. 22, 478. 0

358.5

170.869.9

155.8

392.1548.7730.7197.1442.8

452.8429.6439.640.5

191.5

5143

.460

218.4.458

3,81120, 851

20, 2325,780.408

1,848

275

4,2986,3501,501

10, 80410, 6552,796

968

4,7761,024

124

.078

.638

.107

139, 962

3, 480. 5138.7

3, 143. 770.5

2, 181. 952.1

.260

534.6510.945.9

4,655. 02, 595. 3

348.0

171.675.684.0

386.3547.5732.6205.9424.6

465.5438.1442.254 1

15.9

12064

.433

21.6.469

1,476329

.390138

253

95601171

1,058r 1,047

1,698

69

4169513

.078

.646

.108

8,892

281.7128.2

242.860.2

162.651.0

.257

43.143.327.8

374.3208.1290.4

31.45.8

126.0

35.448.559.4

139.828.3

38.534.135.570.4

15.3

8556

.488

6.3.444

3.3614,780

1,778459

.410204

268

153576235

1,0771, 0621,396

57

328716

.078

.647

.108

13, 760

294.5116.3

254.360.2

187.250.1

.257

44.443.025.6

383.2220.5303.6

28.27.2

131.4

35.847.865.1

131.418.4

39.237.137.770 7

15.9

4555

.471

12.5.461

2,327539

.478197

263

653538144

928' 914

1, 625

120

42342

0)

.079

.643

.109

11,141

341.9113.1

268.453.0

209.854.4

.265

49.548.026.0

432.9238.1330.8

14.06.6

148.2

38.246.267.7

152.228.7

41.236.242.064 Q

15.6

6450

.595

18.8.500

2,167706

.490183

269

1,036404141

806798

2,307

50

38523

2

.078

.645

.109

13, 593

321.6116.0

274.963.3

179.253.8

.272

48.741.334.5

393.8211.0353.7

8.26.8

104.6

35.342.758.3

172.721.2

37.944.241.159 7

16.3

5143

.627

30.7.458

3,8115,621

1,675400

.485156

275

79543643

929919

2,796

68

50613067

.076

.646

.109

11, 773

309.0138.7

279.470.5

207.052.1

.272

49.335.245.9

398.3208. 2348.0

4.76.9

84.0

38.044.361.2

205.97.2

38.039.039.754 1

16.3

4641

.610

36.8.395

1,783482

.548159

256

64793541

826815

2,858

133

289165

0)

.081

.652

.111

10, 826

295.0120.0

263.776.4

202.548.5

.272

49.940.946.0

420. 4209.4416.8

. 77.1

90.8

25.644.355.1

200.4146.5

36.934.637.350 Q

14.8

7940

.515

23.9.340

1,841562

.548177

221

41915899

795783

2,827

2,728

26342

.080

.662

.109

10, 264

302.2114.0

263.677.3

198.460.6

.272

47.750.649.0

378.4202.6429.9

.56.0

79.7

26.242.864.7

139.549.4

38.634.936.057 3

16.8

8341

.480

22.6.336

3,3345,390

1,716323

.543165

196

16939995

944'938

2,671

4,045

396111

2

.079

.671

.109

15, 285

314.5114.7

293.968.8

190.357.7

.282

46.751.743.8

392.0208.2370.0

. 75.3

66.1

14.244.463.4

138.330.3

43.941.539.959 Q

16.4

6143

.374

24.0.326

1,639333

.538129

192

150645155

880868

2,636

217

600135

9

.079

.669

.109

12, 767

303.1140.8

285.483.6

169.459.4

290

48.048.440.0

407.1220.5365.8

3.15.9

74.0

19.148.571.1

122.118.4

42.132.631.4fi« 7

16.8

11148

.330

21.9.286

1,644323

.538124

201

128530148

948937

2,424

136

358951

.082

.671

.109

11,503

294.6134.2

276.193.4

157.952.5

.290

46.751.837.3

392.1215.6338.7

22.36.1

74.1

(d)41.163.1

122.951.7

44.535.934.274 2

15.9

15756

.359

15.8.300

3,4375,143

1,891595

'130

229

74103155

1,0491,0372,103

44

515120

1

.082

.677

10, 972

293.8155.4

314.587.5

181.165.4

46.049.636.2

395.8226.5319. 8

38.26.6

114.9

(d)51.766.7

134.076.1

41.338.939.967.9

16.2

14760

.415

24.1.310

1,550357

114

263

1111,113

64

1,0231,012

r 1,726

37

454137

2

.082

.680

8,940

'256.9' 150. 1

r 279. 2'99.7

' 169. 7' 59.4

'44.3'43.3'35.2

' 410. 6' 213. 0' 333. 7

'40.05.8

' 127. 8

(")'43.0' 55.6

' 114. 047.6

'38.534.3

'37.5'68.1

16.1

'9863

.400

21.3.388

1,616468

139

'298

693144

pl,324

58

534196

2

.082

.682

8,778

306.6136.2

266.688.7

166.754.6

48.147.329.3

389.3199.4326.1

36.25.0

152.6

(d)43.961.0

116.646.9

36.935.335.063.2

15.6

18059

.455

.378

309

.081

r Revised. r> Preliminary. d Data withheld to avoid disclosure of operations of in-dividual firms. i Less than 500 short tons.

OCases of 30 dozen. cTBags of 132.276 lb. § Monthly data reflect cumulative revisions

for prior periods. 9 Includes data not shown separately: see also note " §". AFor dataon lard, see p. S-28. ©Producers' and warehouse stocks. ^Factory ami warehousestocks.




1968 | 1969

Annual

1969


1970



FATS, OILS, AND RELATEDPRODUCTS- Continued

Vegetable oils and related products— ContinuedCottonseed cake and meal:

Production thous. sh. tonsStocks (at oil mills) , end of period do

Cottonseed oil:Production* Crude mil Ib

Refined doConsumption in end products . doStocks, crude and refined (factory and ware-

house), end of period mil. IbExports (crude and refined) doPrice, wholesale (drums; N.Y ) $ per Ib

Linseed oil:Production, crude (raw) mil. IbConsumption in end products doStocks, crude and refined (factory and ware-

house) , end of period mil. IbPrice, wholesale (Minneapolis) $ per Ib

Soybean cake and meal:Production thous. sh tonsStocks (at oil mills), end of period do _

Soybean oil:Production: Crude mil Ib

Refined _ _ _ _ _ _ _ d oConsumption in end products doStocks, crude and refined (factory and ware-

house), end of period... _mil. IbExports (crude and refined) doPrice, wholesale (refined; N.Y.) _ $ per Ib

TOBACCOLeaf:

Production (crop estimate) mil IbStocks, dealers' and manufacturers' end of period

mil IbExports, incl. scrap and stems thous. IbImports, incl. scrap and stems .. do

Manufactured:Consumption (withdrawals):

Cigarettes (small):Tax-exempt millionsTaxable do

Cigars (large), taxable _ doExports, cigarettes do

1, 574. 9135.1

1, 115. 11,001.5

909.6

272.761.7.163

306.6193.6

157.2.127

13,462.7149.2

6, 149. 65, 227. 95, 401. 6

588.6823.4.103

ll 710

5,179598, 916217, 708

53,845523, 007

6,75926, 461

2, 001. 974.9

1, 425. 81, 252. 1

889.7

398.7246 5

.142

291 8193 9

128 8120

14, 717. 2103.2

6 804 75, 860. 05 926 9

517.2761 1.110

i 1 807

4,959579,106213, 402

47, 118510, 532

6,73924, 970

57.099.2

37.254.964.9

418.06.9

.140

16.117.0

113.1.119

1,123.8130.8

526.9459. 4480.8

552.520.2.099

43, 13418, 970

3,98643, 208

6212,693

74.964.9

51.061.164.9

376.84 7

. 140

39.516.2

118.8.119

1,096.0108.6

511.8489.3513.5

415.490.9.107

4,77161, 73316, 794

3,71845,586

6041,962

221.561.4

156.3106.282.9

372.843 4.140

31.217.1

130.7.119

1,416.2120.2

660.3513.0531.2

470.745.3.124

62,29319, 992

4,14645, 768

7152,089

229.979.0

161.4110.983.5

383.956 1.140-

26.713.8

132.0.125

1,418.6139.4

657.6526.2527.7

492.1100.8. 126

74, 68820, 902

3,70238, 875

5992,027

240.074.9

161.9129.095.7

398.742 6.163

19.513 9

128.8125

1 453 6103 2

663 7560 8551 9

517.297 2118

4,95977, 31214, 416

3,65438, 036

4122,329

232.083.6

160.3120.981.4

371.753 0.163

23.013 7

129.0125

1 4324108 5

664 2533 0531 0

552 062 7118

20, 48316, 738

3,87442, 627

5021,935

213.4108.6

151.3125.184.5

394.052.2.163

24.216 7

132.6.110

1,346 2128.3

626 5509.2523 3

558.646.2.115

28, 22517, 413

3,53840,900

4911,967

197.7146.0

140.2129.990.9

351.356.2.175

21.414.6

130.4110

1 445 4125.4

671 3566.4554 7

560.7151 7

155

4,83841, 11118, 303

4,84340, 588

5272 608

144.2148.4

102.896.690.8

325.124.0.180

27.116 7

133.9.110

1 437.2130.9

672.3545.9526 1

632.373.8.146

38, 28019, 109

4,61945 038

5442 374

103.1161.0

73 277.778.2

297.761.0

26.817 1

130.4

1,549.2202.0

724 1505.6491 0

715.881.1

39, 92716, 474

4,05342, 549

6312 838

74.1140.7

53.167.680.6

252.212.2

24.218.6

128.7

1,461.6179.3

680.3531.9549.5

651.3197.8

4,43542, 30717, 776

5,74446,646

5573 120

'46.6'98.0

33.1'42.5'63.0

r 213. 917 5

17.518 6

' 112. 8

1, 441. 3f 130. 2r 664. 7' 488. 1r 488.3r 638. 3

136.0

34, 69920, 388

5,03144, 165

5402 766

37.861.6

26 727.162.5

158.68 8

29.118 3

117.1

1, 430. 8172.9

656.4516.6512 1

665.2126 7

29, 55523, 556

2 309

2 1 g65

LEATHER AND PRODUCTS

HIDES AND SKINSExports:

Value, total 9 thous $Calf and kip skins thous. skinsCattle hides thous hides

Imports:Value total 9 thous $

Sheep and lamb skins thous piecesGoat and kid skins do

Prices, wholesale, f.o.b. shipping point:Calfskins, packer, heavy , 9H/15 Ib $ per IbHides, steer, heavy, native, over 53 Ib do

LEATHERProduction:

Calf and whole kip thous skinsCattle hide and side kip thous hides and kipsGoat and kid thous skinsSheep and lamb do

Exports:Upper and lining leather thous sq ft

Prices, wholesale, f.o.b. tannery:Sole, bends, light index 1957-59-100Upper, chrome calf, B and C grades

index, 1957-59-100

LEATHER MANUFACTURESShoes and slippers:

Production total J thous pairsShoes, sandals, and play shoes, except athletic I

thous pairsSlippers t doAthletic I doOther footwear % do

Exports . do

Prices, wholesale, f.o.b. factory:Men's and boys' oxfords, dress, elk or side

upper, Goodyear welt index, 1957-59—100Women's oxfords, elk side upper, Goodyear

welt index 1957-59—100Women's pumps low-medium quality do

128, 6792,212

12 636

78 40030 9125 203

.555

.112

4 24724 033

6 76431 413

77 266

95 1

91.7

642 427

526 580105 437

8 3312 079

2 884

129 7

118 7134 4

152, 4461,652

14 778

62 4003 20' 716

3 5 068

561146

3 38122 0305 856

25 242

365,802

107.0

92.1

580 857

461 549109, 065

8,4231 742

2,324

133 8

126 6139 8

14, 204115

1 341

4 8001 575

417

.575146

2151 853

3301 984

6 226

105 5

94 5

49 718

38 25110 480

755154

207

131 2

127 2140 7

12, 652111

1 229

4 4001 507

349

.500

. 163

2481,758

4851 788

4 119

111 5

90 9

47 631

36 30210 364

825140

228

135 7

127 2143 0

14,606131

1 405

3 100548320

.450138

2711 925

5391,925

4 561

111 5

81 2

52 979

40 11511 874

815175

172

137 1

128 7142 3

14, 103108

1 376

2 700349508

.450

.136

2651 692

5432 030

5 299

112 3

81.2

43 237

32 9709 407

714146

189

137 1

128 7142 0

11, 74776

1 196

3 900621253

.430

.139

2611 632

4311 840

5 657

112 3

85.6

44 928

37 1776 828

775148

221

137 1

128 7139 7

11, 32176

1 154

4 400655800

.403123

2921 665

5311 835

6 063

112 3

85 6

47 697

39 5537 299

700145

154

137 1

128 7142 8

13, 75192

1 440

4 0001*971'426

.300128

2711 699' 393

1 775

6 824

112 3

77 4

47 580

39 2287 487

696169

189

138 1

131 6146 1

15 280115

1 586

6 6002 993

701

.300128

2681 814

4451 866

6 312

112 3

82.2

50 369

40 4898 866

848166

195

138 1

131 6146 1

11 967134

1 179

5 7001 847

192

.375141

2401 874

4182 070

6 396

112 3

83 3

49 049

38 7169 312

811210

166

138 8

131 6150.3

12 794105

1 250

5 4002 450

316

375134

2581 815

4042 054

8 316

112 3

79 9

46 687

35 9579 742

791197

161

138 8

131 6147 8

13 79996

1 395

4 0001 438

153

2671 791

4132 038

6 742

48 568

37 03110,' 534

807196

172

10, 83685

1 159

4 5001 294

174

1351 322' 240

1 747

6 306

43, 702

34 7838,246

513160

139

10, 15164

1 123

4 5002 172

102

6,165

r Revised. 1 Crop estimate for the year. 2 October 1 estimate of 1970 crop.* Annual total reflects revisions not distributed to the monthly data.

9 Includes data for items not shown separately.{Revisions for the months of 1968 will be shown later.




1968 | 1969

Annual

1969


1970


LUMBER AND PRODUCTS

LUMBER— ALL TYPES 9 1

National Forest Products Association:Production, total mil. bd. ft ._

Hardwoods doSoftwoods do _

Shipments total doHardwoods doSoftwoods _ _ - _ _ do

Stocks (gross) , mill, end of period, total, do ..Hardwoods _ _ _ . . doSoftwoods do

Exports total sawmill products doImports total sawmill products do

SOFT WOODS t

Douglas fir:Orders new mil. bd. ftOrders, unfilled, end of period . _ do

Production - - ..do _Shipments _ _ - do ___Stocks (gross), mill, end of period do

Exports, total sawmill products doSawed timber doBoards, planks, scantlings, etc. do_ _.

Prices, wholesale:Dimension, construction, dried, 1" x 4", R. L.

$per M bd. ft._Flooring, C and better, F. G., 1" x 4", R. L.

$ per M bd. ft

Southern pine:Orders, new _ _ . mil. bd. ftOrders, unfilled, end of period - do

Production _ _ _ _ do _Shipments doStocks (gross), mill and concentration yards, end

of period mil bd ft

Exports, total sawmill products M bd. f t _ _

Prices, wholesale, (indexes):Boards, No. 2 and better, 1" x 6", R. L.

1957-59=100..Flooring, B and better, F. G., 1" x 4", S. L.

1957-59=100..

Western pine:Orders, new mil. bd. ft..Orders, unfilled, end of period do

Production doShipments _ _ _ _ _ d o

Stocks (gross) , mill, end of period doPrice, wholesale, Ponderosa, boards, No. 3, 1" x

12", R. L. (6' and over) $ per M bd. ft

HARDWOOD FLOORING

Oak:Orders, new mil bd ftOrders unfilled end of period do

Production doShipments _ _ d oStocks (gross) , mill, end of period do

37, 4507,227

30, 223

38, 1977,789

30, 408

4,988838

4,150

1,1436,087

9,009821

8,7818,767

971

403102301

107. 85

166. 36

7,329422

7,0547,214

1,137

90,477

119.0

113.0

10, 857539

10, 82610, 875

1,396

87.72

496.523.9

459.3485.123.5

37, 9438,462

29,481

37, 6158,672

28, 943

5,332628

4,704

2 1, 1582 6, 263

7,844486

8,2188,1791,010

35988

271

113. 52

212. 59

7,336324

7,6457,434

1,348

2 75,687

132.0

127.0

9,593364

9,9999,768

1,627

107. 18

380.612.0

393.1387.829.6

3,171782

2,389

3,107789

2,318

5,202483

4,719

91495

600487

635639

1,026

317

23

95.08

215. 44

625330

607598

1,339

5,947

126.2

124.9

818443

849811

1,595

79.64

33.614.9

31.835.020.1

3,256763

2,493

3,248723

2, 425

5,210523

4,687

120528

659476

671670

1,027

359

25

94.61

215. 44

617334

594613

1,320

7,615

116.8

124.9

867438

913872

1,636

74.90

32.815.1

32.132.319.9

3,459799

2,660

3,414766

2,648

5,255556

4,699

103525

776495

743757

1,013

379

28

94.28

222. 46

671331

671674

1,317

6,718

115.4

126.8

884430

900892

1,644

76.02

36.716.6

36.834.821.9

2,926753

2,173

2,912722

2,190

5,269587

4,682

85443

556433

619618

1,014

194

15

96.15

225. 60

585339

576577

1,316

5,821

113.6

128.3

674385

702719

1,627

77.83

24.213.2

28.226.923.2

2,820638

2,182

2,757597

2,160

5,332628

4,704

116435

685486

628632

1,010

378

29

95.37

227. 24

505324

552520

1,348

8,597

112.5

129.2

723364

744744

1,627

86.00

24.112.0

29.823.929.6

2,902657

2,245

2,651656

1,995

5,583629

4,954

515

591468

687609

1,088

92.86

227. 24

502322

574504

1,418

7,359

114.4

129.2

637399

668602

1,693

90.55

21.610.5

29.323.035.2

2,859673

2,186

2,670587

2,083

5,772715

5,057

92423

628474

628622

1,094

347

27

91.43

225. 69

512329

552505

1,465

5,976

110.0

129.2

680407

704672

1,725

84.43

21.29.8

24.820.538.5

3,164709

2,455

3,015587

2,428

5,921837

5,024

104488

732462

749744

1,099

371127

90.66

225. 69

609366

588572

1,481

5,977

108.4

129.2

778391

796794

1,727

82.45

28.310.8

24.626.635.2

3,203695

2,508

3,128559

2,569

5,996973

5,023

147535

811562

684711

1,072

315

26

92.06

225.69

681402

626645

1,462

9,561

109.9

129.2

867402

850856

1,721

82.95

31.213.2

27.129.032.9

3,080647

2,433

2,942558

2,384

6,1371,0655,072

91572

542453

693651

1,114

236

17

92.68

225. 69

586369

622619

1,465

8,096

110.5

130.7

759349

802812

1,711

90.14

22.39.4

25.326.232.1

2,967622

2,345

3,042524

2,518

6,0611,1654,896

130562

715406

694762

1,046

531340

614361

585622

1,428

8,169

833356

768826

1,653

25.38.7

26.226.134.1

3,004648

2,356

2,930497

2,433

6,1411,3224,819

93478

697466

627637

1,036

215

16

663364

608660

1,376

6,481

947445

850858

1,645

31.110.3

26.930.029.4

3,045626

2,419

3, 044572

2,412

6,7131,3894,784

119540

676435

690707

1,037

327

25

633374

590623

1,343

5,099

807410

850842

1,653

27.910.7

27.827.529.6

METALS AND MANUFACTURES

IRON AND STEELExports:

Steel mill products thous sh tonsScrap ._ doPig iron _ do

Imports:Steel mill products ... doScrap _ . doPig iron . do

Iron and Steel Scrap

Production thous. sh. tons..Receipts, net t-- doConsumption doStocks, end of period do

Prices, steel scrap, No. 1 heavy melting:Composite (5 markets).. $ per Ig. ton..

Pittsburgh district do

2,1706,572

11

17,960327799

2 53, 5452 33, 5872 87, 060

7,882

25.0627.00

2 5, 2299,176

44

14, 034412417

56, 04936, 70894, 3696,448

29.7632.00

4701,2000)

1,2492440

4,5102,7997,5067,015

31.8234.00

4501,0540)

1,3112943

4,8082,9407,8746,917

34.1837.00

6391,025

1

1,2972639

5,0353,3668,4646,876

33.1234.00

636842

7

1,0084140

4,6252,9287,9436,532

32.1334.00

69373627

1,1392946

4,6622,9807,7426,448

34.303S. 00

65479227

781204

4,5212,7787,5296,247

39.2940.00

69053931

697296

4,2622,9157,0716,333

44.9446. 50

698781

2

859323

4,7193,2557,8886,427

44.5745.00

809935

6

9622326

4,6363,0927,7056,448

40.5242.00

9161,269

45

1,0663030

4,4632,8637,5196,268

42 2144.50

65198954

1,0823322

4,5222,9877,4306,360

6351,045

2

1,1343333

56691843

1,1112720

r Revised. " Preliminary. 1 Less than 500 tons. 2 Annual total reflects revisionsnot distributed to the monthly data.

9 Totals include data for types of lumber not shown separately.HData for orders, production, shipments, and stocks have been revised back to 1962;

corresponding monthly revisions are available for 1968 and 1969 only.

{Receipts previously shown for the period Apr. 1967-Sept. 1969 have been corrected torepresent net receipts (i.e., less scrap shipped, transferred, or otherwise disposed of during theperiod); data comparable with the net receipts shown through Mar. 1967 appear in the Feb.1970 SURVEY, p. S-31.




1968 | 1969

Annual

1969


1970


METALS AND MANUFACTURES—Continued

IRON AND STEEL— Continued

Ore

Iron ore (operations in all U.S. districts):Mine production. _ thous. Ig. tonsShipments from mines doImports _ _ do.-

U.S. and foreign ores and ore agglomerates:Receipts at iron and steel plants.. _ do _Consumption at iron and steel plants do .._Exports do

Stocks, total, end of period doAt mines __ _ . do,At furnace yards doAt U.S. docks . . _ _ - do--

Manganese (mn . content) , general imports do

Pig Iron and Iron Products

Pig Iron:Production (excluding production of ferroalloys)

thous. sh. tons..Consumption - ~ doStocks, end of period thous. sh. tons__

Prices:Composite $ per Ig. ton_.Basic (furnace) doFoundry. No. 2, Northern do

Castings, gray iron:Orders, unfilled, for sale, end of period

thous. sh. tons_Shipments, total do

For sale doCastings, malleable iron:

Orders, unfilled, for sale, end of periodthous. sh.tons__

Shipments, total doFor sale.. _ _ do

Steel, Raw and Semifinished

Steel (raw):Production . _ thous. sh. tons

Index daily average 1957-59 — 100Steel castings:

Orders, unfilled, for sale, end of periodthous. sh. tons..

Shipments, total doFor sale, total do

Steel Mill Products

Steel products, net shipments:Total (all grades) thous. sh. tons__By product:

Semifinished products doStructural shapes (heavy) steel piling doPlates doRails and accessories do

Bars and tool steel, total. . doBars: Hot rolled (incl. light shapes) do

Reinforcing doCold finished do

Pipe and tubing doWire and wire products doTin mill products doSheets and strip (incl. electrical), total. ..do

Sheets: Hot rolled doCold rolled do

By market (quarterly shipments):Service centers and distributors doConstruction, incl. maintenance doContractors' products doAutomotive do

Rail transportation doMachinery, industrial equip., tools doContainers, packaging, ship, materials... doOther do

Steel mill products, inventories, end of period:Consumers' (manufacturers only) ..mil. sh. tons

Receipts during period doConsumption during period do

Service centers (warehouses) _. . doProducing mills:

In process (ingots, semifinished, etc ) doFinished (sheets, plates, bars, pipe, etc.) .do... .

Steel (carbon), finished, composite price.. .$ per lb_.' Revised. v Preliminary. 1 Annual total; m<2 For^month shown. 8 For eleven months. <=

85, 865182,53143, 941

118,581120, 449

5, 937

72, 01915, 99053. 232

2, 797

953

88, 7801 89,953

2,342

62.7063.00

3 63. 50

92315,1308, 715

1371,007

583

1 131,462135.0

3711,7301,435

i 91, 856

4,8216,1498, 4011, 462

13, 6608, 4973,2411,815

10, 0783, 3937, 267

36, 62410, 78216, 336

i 16 099i 12, 195i 4, 922

1 19, 269

1 3, 048i 5, 469i 7, 902

i 22, 952

10.570.168.7

6.3

9.99.0

.0873

mthly revCorrectec

i 88, 260i 90, 570

40, 758

126, 165128, 550

5,430

67, 30313, 65251,0032,648

1,124

95, 01794, 4861,715

63.7864.0064.33

1,09115, 9359,187

1171,171

672

1 141, 262i 145. 4

4461,9001,583

i 93, 877

6,3736,2448,2381,514

14, 3548,6593,6591,9239,2323,2566,555

38, 11112, 47116, 427

1 17 565i 11, 402i 4, 768

i 18, 276

i 3, 344i 5, 690i 7, 145

i 25, 687

9.869.370.0

6.3

11.710.2

.0917

isions are1.

9,71012, 0753,706

14, 51010, 404

807

62, 50518, 45442, 5151,536

105

7,6997,7421,894

65.2065.5063.50

1,1441,286

756

1419356

11,421138.4

462135112

7,710

527495630104

1,174681334150691271567

3,2511,1071,358

10.05.35.3

6.1

11.09.5

.0933

not avail

8,89311,1165,188

15, 15710, 342

466

65, 52316, 24547, 331

1,947

122

7,7397,7321,828

65.2065.5066.00

1,1431,402

811

1309758

11, 523144.3

433153127

7,896

582526655104

1, 194701320162702279571

3,2841,0931,398

4,4682,7891 2164,481

7211,3331,8386,388

9.85.96.1

5.9

11.09.5

.0933

ible.

8, 59610,2216,002

15, 00111,244

335

68, 51214, 91851, 0882,506

94

8,2928,2531,760

65.2065. 5066.00

1,1501,498

886

12110364

12,324149.4

420167138

8,439

604554719108

1,307790342164694312518

3,6241,2451,526

10.06.46.2

5.8

11.09.6

.0933

5,7127,4903,997

11, 92810, 762

341

68, 04713, 14152, 2542,652

117

7,9557,9231,720

65.2065.5066.00

1,0961,260

735

1157949

11,916149.3

430151128

7,560

649528653105

1,157701297149598237449

3,1851,1121,337

9.85.65.7

5.9

11.39.9

.0933

5,3274,8244,072

9,83211, 083

417

67, 30313, 65251, 0032,648

123

8,1327,9651,715

65.2065. 5066.00

1,0911,273

716

1178248

11,812143.2

446152125

7,654

704519662131

1,146703291142699230598

2,9641,0151, 260

4 4542 6101 1674 41*)

7741 4221 7097 102

9.85.65.7

6.3

11.710.2

.0933

5,3532,6582,189

4,01210, 482

334

63, 14716, 17044, 4882,489

106

7,6687,5591,752

65.2065.5066.00

1,0801,214

674

1097845

11, 243136.3

435147120

8,538

610523697128

1,126718244155594235

1,2763,3511,1701,422

10.26.46.0

6.1

11.79.2

.0952

5,0892,5832,307

3,8809, 562

315

59, 83218, 79538, 8142,223

45

7,0627,0361,671

65.2065.5066.00

1,0761,206

699

1078045

10, 498140.9

443149122

7,242

584553756144

1,068665252142630237331

2,9391,1221,143

10.25.75.7

6.0

11.59.3

.0960

5,7882,3181,936

4,56110, 788

197

56, 65622, 26532, 5871,804

41

8,0597,9471,685

66.7865.5069.00

1,0541,271

726

1048045

11, 886144.1

433160131

8,244

792538738167

1,349759428152734285446

3,1951,2611,214

4 4542,5411,1233,853

9181,5132,1737,759

9.95.86.1

6.1

11.59.4

.0968

6,6335,3482,944

7,54210, 378

339

54, 94523, 57629, 7501,619

56

7,7907,6521,712

68.2068.5069.00

1,0611,272

739

948347

11, 386142.6

433158126

7,039

724496631156

1,17366840890

824263445

2,327907919

9.15.76.5

6.3

11.710.3

.0974

9,26410, 2993,806

14, 48310, 934

433

57,61622, 53833, 308

1,770

34

8,1227,8971,787

68.2068.5069.00

1,0461,256

723

947844

11,574140.3

421154124

8,190

729500714156

1,305735436127679275582

3,2491,0871,359

9.16.06.0

6.1

12.110.1

.0974

9,52010, 7635,487

15,03310, 497

627C61, 14321, 29737, 8442,002

47

7,8747,7351,804

68.20

'1,019' 1, 291

'758

'90'77

45

11,323141.8

411-•158'128

8,517

780543737143

1,388758472149691282605

3,3501,1411,362

4 4702,8181,1033,844

8801,3551,7577,520

8.96.16.3

'6.1

12.19.7

.1056

9,65111,6985,193

15, 53310, 327

700

64, 57819 25143, 050

2,277

102

7,618

68.20

9921,081

668

1016242

10, 781130.7

382129108

7,759

586534685119

1,249651469123657254603

3,0711,0771,240

2 1, 58329972412

2 1, 278

22302 4002652

2 2, 207

9.25.65.3

P 6 . 2

11.7'9.5

.1056

1

5,368

629

149

7,578

68.20

10, 765130.5

7,511

470472631100

1,262676456123661263663

2,988993

1,229

p9. 6P 5 . 6P 5 . 2

Ml. 9p 9 5

.1056




1968 1969

Annual

1969


1970



NONFERROUS METALS AND PRODUCTSAluminum:

Production, primary (dom. and foreign ores)thous. sh. tons..

Recovery from scrap (aluminum content). .do

Imports (general):Metal and alloys, crude - - _ . -doPlates sheets, etc do

Exports metal and alloys crude do

Price, primary ingot, 99.5% minimum._.$ perlb..

Aluminum products:Shipments:

Ingot and mill prod, (net ship.)§ mil. lb-.Mill products total § do

Plate and sheet doCastings A do

Inventories, total (ingot, mill prod., and scrap)*mil. Ib..

Copper:Production:

Mine recoverable copper thous sh tonsRefinery primary do

From domestic ores doFrom foreign ores do

Secondary recovered as refined do

Imports (general) :Refined unrefined scrap (copper cont ) do

Refined doExports:

Refined and scrap doRefined do

Consumption, refined (by mills etc.) doStocks, refined, end of period do

Fabricators' doPrice, electrolytic (wirebars), dom., deliveredt

$ per Ib..

Copper-base mill and foundry products, shipments(quarterly total):

Brass mill products mil.lb-.Copper wire mill products (copper cont.) doBrass and bronze foundry products do

Lead:Production:

Mine, recoverable lead thous. sh. tons..Recovered from scrap (lead cont.) do

Imports (general) or° (lead cont.), metal doConsumption, total do

Stocks, end of period:Producers', ore, base bullion, and in process

(lead content), ABMS thous sh tonsRefiners' (primary), refined and antimonial

(lead content) thous sh tonsConsumers' (lead content) d" doScrap (lead-base, purchased), all smelters

(gross weight) thous. sh. tonsPrice, common grade (N.Y.) $ per Ib

Tin:Imports (for consumption) :

Ore (tin content) Ig. tons,.Bars, pigs, etc ' do

Recovery from scrap, total (tin cont.) doAs metal. - . do

Consumption, total doPrimary do

Exports, incl. reexports (metal) do._.Stocks, pig (industrial), end of period doPrice, pig, Straits (N.Y.), prompt $ per lb..

Zinc:Mine prod., recoverable zinc thous. sh. tons__Imports (general):

Ores (zinc content) doMetal (slab, blocks).. do

Consumption (recoverable zinc content):Ores _ _ doScrap, all types do._ -

Slab zinc:Production (primary smelter), from domestic

and foreign ores thous sh tonsSecondary (redistilled) production.. do_Consumption, fabricators' doExports _ doStocks, end of period:

Producers', at smelter (AZI)O doConsumers' _ do

Price, Prime Western (East St. Louis). $ per lb -_r Revised. p Preliminary. i Annual; monthly2 Average for Apr .-Dec. 3 Less than 50 tons.

WEEK price (based on mine production rates and konly) is not comparable with prices for earlier month

§For revised 1968 monthly data, see Feb. 1970 SuA Revised data (1966-68) are in the Apr. 1970 SURV

3, 255. 0i 925. 0

685.261.8

180.3

.2557

9,864.87,170.0

3, 404. 61, 588. 2

3,725

1,20161,437.41, 160. 9

276.5400.9

716.7405.4

360.8240.7

1,876.4171.5114.9

2 . 4225

2,7572,213

791

359.2i 550. 9

424.61,328.8

146.8

15.388.9

57.8.1321

3,26657, 358

122,4951 2, 97881,96158,859

5,02718, 5571.4811

529.4

546.4305.5

1 124. 1i 270. 6

i 1,020.9179.9

U,333.733.0

63.1102.4.1350

revisionsBeginnir

nown sels.RVEY, p. 5EY. *N

3, 793. 1958.0

468.657.2

344.4

.2718

10,721.57, 652. 83,711.91, 698. 1

3,749

1, 544. 61,742.81, 468. 9

273.9465.6

415.1131.1

286.2200.3

2, 145. 0170.3124.4

.4793

3,1112,524

853

509.0604.2

389.61, 389. 4

165.7

25.5151.0

64.9.1490

054, 950

i 22, 775i 3, 022

i 80, 790i 57, 730

3,21713, 8241. 6444

553.1

602.1324.7

i 126. 7i 302. 1

1, 045. 465.7

1 1, 368. 39.3

' i 67. 7'1100.5

.1460

are not aig Feb. 19ing prices

5-32.ew series.

318.076.0

37.44.3

34.9

.2700

849.5606.5297.5130. 4

3,826

125.1130.4108.921.439.1

36.39.4

28.918.5

167.5159.4115.8

.4832

45.148.8

36.6112.2

160.7

15.3145.1

59.0. 1550

04,7381,775

2606,4554,665

8313,6451. 6590

47.3

47.127.6

10.319.0

88.64.8

110.82.2

51.1104.0.1450

vailable.70, the n5 Of U.S

Source,

313.077.0

35.64.4

43.1

.2700

933.3640.7300.7142.7

3,781

127.7133.6111.422.240.6

38.37.2

28.117.9

180.1138.992.5

.5176

717658203

43.253.0

25.1123.9

171.0

17.7146.6

61.3.1550

04,8051,895

1956,6254,695

27016, 0451. 6564

47.4

50.931.4

12.319.2

90.04.6

116.0.7

45.9105.7.1486

jw METAproduce

U.S. De]

326.983.0

32.94.4

43.9

.2765

932.5647.5300.7157.3

3,781

135.4157.1127.529.544.9

32.912.3

23.815.6

194.7150.295.1

.5248

46.255.4

37.5131.9

176.1

20.5141.3

59.2.1550

05,3122,140

2857,1054,925

14316,2451. 6671

47.3

57.025.7

13.020.4

88.06.5

122.0.4

48.699.1

.1550

LS>rs

3t.

318.779.0

28.63.9

31.6

.2800

849.2586.2277.4130.7

3,770

134.2145.6123.921.741.0

36.315.8

21.213.7

181.1162.9106.7

.5252

42.349.8

28.2112.5

172.3

22.7148.4

57.9.1559

03,9751,895

2556,1104,360

32014, 8081. 7596

46.3

53.023.8

12.220.0

86.66.2

103.0.1

61.493.5

.1550

of CctP

and trfC

scrap01

332.272.0

26.94.5

41.1

.2800

911.7630.9314.6129.7

3,749

138.6159.0140.418.641.4

31.511.8

20.014.9

180.5170.3124.4

.5289

731609209

46.149.2

28.5117.7

165.7

25.5151.0

64.9.1603

04,1411,770

2706,2104,430

85213, 8241. 8132

45.5

40.327.8

12.320.1

85.05.5

97.3(3)

78.394.5

.1550

mmercerices sho^he refineConsume.'roducen

334.666.0

35.37.1

49.5

.2800

837.4583.6272.2137.1

3,815

139.9148.6131.417.237.5

24.511.7

25.118.6

170.1175.1123.1

.5625

47.846.7

28.2116.1

158.0

30.5147.8

74.7.1650

05,3581,885

2706,3454,565

44813, 6551. 7917

45.1

44.725.6

7.518.9

87.45.2

97.4(3)

'94.787.11

.1550

monthbkvn are a^ry pricers' and s

>' stocks

305.569.0

40.49.1

50.2

.2800

834.9597. 8286.7130.7

3,865

131.8140.1120.919.337.7

25.96.8

30.320.0

186.6176.4118.2

i565

46.945.8

36.2109.0

162.7

33.2160.2

75.9.1650

02,7311,800

2555,6053,825

80813, 1351. 7491

45.7

45.221.7

11.818.8

76.96.1

94.6(3)

T 109. 385.4

.1550 1

y data ba/erages ois 0.400 ceecondary

elsewhere

338.876.0

33.38.9

43.1

.2800

936.5685.2348.9146.5

3,839

144.3157.5136.820.647.2

25.810.0

27.318.8

200.8179.3111.9

4.565

708599214

52.550.4

32.6118.7

157.1

36.6169.0

73.0.1650

04,7071,840

2856,7604,680

32712,6801.7712

49.2

56.621.3

12.819.8

'85.46.9

100.0.1

'122.279.8

.1550

ck to Jandelivere

nt<5 per 1smelten

, end of

328.578.0

32.66.6

36.0

.2859

858.4633.7318.2136.7

3,899

141.7151.4128.123.245.0

34.06.8

32.524.0

185.9177.1118.9

4.598

49.753.1

26.7115.9

163.3

47.1167.6

67.5.1650

03,8181,785

2306,5954,665

8111, 7651. 8388

48.3

39.522.3

11.119.8

'80.75.3

99.40

'131.775.9

.1550

. 1967 and prices;3. throug$' lead st

Sept. 197

339.871.0

31.97.0

41.5

.2900

871.7653.4327.2134.6

3,942

152.1148.2128.220.043.1

32.79.8

33.026.2

188.5183.8118.6

4.602

51.346.8

36.7115.9

138.4

53.2165.7

72.3.1650

3844,5431,855

3306,5054,560

9111,8101.8054

45.6

43.725.0

10.318.6

' 77.06.8

99.1(3)

' 134. 977.3

. 1550

j avail abaverageh 1969 arocks in r

0, 24,000

325.173.0

30.47.0

41.1

.2900

' 884. 1' 661. 6' 338. 9' 135. 9

' 3, 932

148.5140.9117.623.341.5

32.110.6

22.217.1

180.8175.6121.9

4.602

'47.450.3

23.8114.0

125.8

63.1172.0

67.1. 1650

1,0656,1341,255

2506,5804,780

9212, 8651. 7023

'46.4

42.916.4

9.019.4

' 70.76.1

102.2(3)

' 132. 0'83.4.1550

le.differentid 0.500 cefinery s

:ons.

336.3

31.86.2

35.2

.2900

784.3596.9297.4114.4

4,045

' 137. 0148.3130.418.041.1

35.210.1

25.215.0

P 123. 2p 230. 3p 173. 4

4.601

46.545.4

30.199.9

130.2

78.9175.9

75.5.1568

03,398

5,8854,425

67311, 3301.6477

46.5

44.220.7

8.218.4

'71.75.3

90.9(3)

' 125. 784.8

.1550

ial betw(ents therhapes an

21.75.3

14.1

.2900

144.5138.7119. 319.434.6

30.511.0

27.817.5

P 166.9p 225.8p 170.9

4.601

25.4

133.8

.1510

1,6331,723

102

1. 7451

56.916.0

(3)

'117.2

.2900

4 .601

.1452

1. 7474

112.8

. 1533 . 1500

^en the deliveredeafter.d in copper-base


S-34 SUKVEY OF CURRENT BUSINESS October 1970


1968 | 1969

Annual

1969


1970



HEATING EQUIPMENT, EXC. ELECTRIC

Radiators and con vectors, shipments:Cast-iron mil sq ft radiationNonferrous do

Oil burners:Shipments thousStocks end of period do

Ranges, gas, domestic cooking (incl. free-standing,set-in, high-oven ranges, and built-in ovenbroilers) shipments thous

Top burner sections (4-burnerequiv.), ship... do

Stoves domestic heating shipments total doGas do

Warm-air furnaces (forced-air and gravity air-flow),shipments, total thous_.

Gas doWater heaters gas shipments do

MACHINERY AND EQUIPMENT

Foundry equipment (new), new orders, netmo avg shipments 1957-59—100

Furnaces (industrial) and ovens, etc., new orders(domestic) net quarterly total mil $

Electric processing doFuel-fired (exc for hot rolling steel) do

Material handling equipment (industrial):Orders (new), index, seas, adj 1957-59=100-.

Industrial trucks (electric), shipments:Hand (motorized) numberRider-type do

Industrial trucks and tractors (internal combustionengines), shipments number..

Machine tools:Metal cutting type tools:

Orders new (net), total mil $Domestic do

Shipments total doDomestic do

Order backlog end of period do

Metal forming type tools:Orders, new (net), total do

Domestic doShipments total do

Domestic doOrder backlog end of period do

Other machinery and equip., qtrly. shipments:Tractors used in construction:

Tracklaying, total mil $Wheel (contractors' off-highway) doTractor shovel loaders (integral units only),

wheel and tracklaying types mil $Tractors, wheel (excl. garden and contractors'

off-highway types) mil $Farm machines and equipment (selected types),

excl. tractors mil. $..

ELECTRICAL EQUIPMENT

Batteries (auto, replacement), shipments!. _thous_.Household electrical appliances:

Ranges, incl. built-ins, shipments (manufac-turers'), domestic and export thous

Refrigerators and home freezers, output1957-59=100-.

Vacuum cleaners, sales billed thousWashers, sales (dom. and export) . _ doDryers (gas and electric), sales (domestic and

export) thous

Radio sets, production© doTelevision sets (incl. combination), prod.O.-doElectron tubes and semiconductors (excl. receiving,

power, and spec, purpose tubes), sales mil. $..Motors and generators:

New orders, index, qtrly 1947-49—100New orders (gross) :

Polyphase induction motors, 1-200 hp . . .mil. $. _D.C. motors and generators, 1-200 hp do

19.8279.2

i 532. 6145.8

12,268.2206.1

U.446.811,001.3

1 1, 740. 91 1, 428. 12.705.9

270.3

121.2i 12.1164.6

220.4

10, 75312,243

42,601

1, 079. 35959.90

1, 358. 301, 238. 30

809.6

394.75360.55368.60324. 45254. 5

i 453. 468.4

i 502. 6

1938.4

i 1,211.3

33, 793

2,306.8

165.66, 653. 1

i 4,519. 8

2, 861. 8

22, 56611,794

1693.1

206

« 96. 649.5

5.378.5

665.3

2,471.1198.7

1,361.6967.0

1,898. 81, 531. 62, 784. 6

366.1

113.116.458.3

s 246. 8

14, 57914,903

50,446

1, 195. 301,032.651,192.451, 077. 45

812.4

533. 45484.35405. 10369.30382.8

1 475. 6179.1

617.3

878.6

1, 151. 6

35, 510

i 2,342. 3

181.07, 133. 74, 421. 5

3,022.5

20, 54911, 270

770.7

217

U09.351.9

.47.0

63.128.3

221.215.8

176.4133.5

172.3136.3205.5

469.1

227.1

1,041900

4,074

66.7056.4574.0563.15903.0

38.6033.3030.7028.05402.8

2,927

195.2

125.0562.8417.9

276.1

1,827877

63.5

58.03.8

.67.9

66.123.7

230.318.3

172.0132.1

202.3153.9233.0

318.3

19.83.1

10.1

220.2

1,2821,352

4,429

82.0058.50

108.4096.65876.6

27.7023.9534.8532.80395.7

107 449 0

139 1

175.6

228.3

3,819

194.6

194.1765.0433.5

350.4

4 2, 2114 1, 167

71.2

213

510.34.0

.69.0

73.619.7

237.917.7

189.4143.8

218.9170.7249.8

273.0

249.1

1,3481,391

4,220

89.0077.40

104. 6094.00861.0

45.0036.2543.2040.40397.5

4,271

242.2

201.8728.7462.8

394.6

1,838984

69.3

510.34.4

.45.9

52.918.2

201.814.8

133.4102.0

153.2121.7246.3

307.2

226.8

1,0691,282

4,010

78.9567.5592.2083.90847.8

31.9027.7039.2034.15390.2

3,668

144.6

98.6645.0290.8

268.2

1,504888

61.1

58.13.6

.35.1

57.0

199.616.2

79.352.6

146.9121.4210.4

242.4

23.27 28.8

257.2

1,4061,399

4,328

82.8070.20118.15103.35812.4

26.2524.2033.6031.20382.8

100 831 6

138.2

228.5

239.6

3,782

153.5

113.3520.9277.1

243.64 1, 437

4764

69.7

210

58.83.5

.35.0

48.4

167.513.0

71.237.8

150.1125.4245.1

499.0

224.1

1,0001,407

4,135

92.2578.6093.8584.35810.8

22.3018.7040.7038.65364.4

3,692

120.2

131.5565.1241.1

203.7

1,369704

62.7

58.14.8

.55.1

47.5

178.213.7

66.731.8

133.7110.8214.4

369.5

228.3

1,3051,220

3,643

62.8552.7087.3574.65786.3

31.7029.6539.6033.60356.5

3,123

142.8

194.9636.1302.9

219.4

1,240782

59.6

58.73.8

.44.6

44.1

208.315.7

76.651.4

135. 5111.6235.1

550.3

30.13.0

11.3

200.4

1,2181,573

3,846

75.9560.0098.2082.50764.1

20.3517.0040.9538.20335.9

133.2736.5

' 162. 4

248.4r 333 6

2,491

210.8

219.5645.1399.8

278.8

4 1, 6324895

63.8

215

59.76.0

.24.5

34.8

187.912.6

72.647.6

120.297.9

242.7

1, 402. 1

177.3

1, 1501,057

3,416

59.2046.3083.0569.15740.2

27.2025.5534.7532.20328.4

' 2, 039

205.5

227.2561.5338.3

197.5

1,322509

58.1

39.43.6

.24.1

36.6

174.013.1

79.652.0

128.9105.8232.5

769.7

226.1

1,5291,237

3,636

52.7541.6097.1082.55695.9

16.2515.2046.1043.40298.5

r 1, 930

200.2

221.4531.7324.3

173.6

1,292531

53.2

58.13.4

'46.6

227.614.1

'89.2'65.5

' 148. 2r 119. 9

264.8

309.2

22.52.7

12.3

177.1

1,2731,377

3,855

61.8544.05

100.6084.50657.1

14.4012.8541.2036.20271.7

125.352.3

153.3

230.8

294.8

2,269

221.6

227.4589.2384.1

203.4

* 1, 6514823

56.4

206

58.64.7

.33.9

47.6

172.411.2

129.696.8

162.9128.6234.7

255.5

207.6

1,1251,433

3,533

' 62. 70' 47. 70' 74. 90' 61. 30'644.9

14.75' 12. 30' 38. 75' 36. 25' 247. 7

339.8

346.9

' 2, 912

238.4

238.3513.3

8 336. 3

198.5

975534

46.9

59 .93.8

195.3

688846

2,346

34.3523.4061.2546.65618.0

11.808.85

32.0529.50227.5

3,002

193.7

152.1667.9

8354.5

278.7

1,480779

49.3

57.54.0

8 386. 9

335.9

4 1, 58541,054

PETROLEUM, COAL, AND PRODUCTS

COALAnthracite:

Production thous. sh. tons..Exports doPrice, wholesale, chestnut, f.o.b. car at mine

$persh. ton_.Bituminous:

Production thous. sh. tons.

11, 461518

13.813

545, 245

' 10, 400627

15.100

'560, 503

952111

14. 778

' 48,347

'94741

15.268

' 49,155

86670

15.268

'53,906

73663

15. 758

' 45,687

89170

16. 248

' 51,094

81116

16. 346

45, 515

77317

16. 346

45,890

81722

16. 346

'50,775

76157

16. 346

49, 330

76651

16. 346

50,765

81143

48,085

710110

38, 795

'90179

' 50, 365

877

53, 685T ;5evlse(J' l Revised total or year-end stock; monthly revisions are not available.2 Total for 11 months. s For month shown. * Data cover 5 weeks; other periods,

4 weeks. s Excludes orders for motors 1-20 hp.; domestic sales of this class in 1969 totaled$117.2 mil.; 1970—Aug., $7.5 mil. e Revised data (1967-68) are in the Apr. 1S70 SURVEY.

7 Excludes figures for rubber-tired dozers (included for other periods).

s Omits combination washer-dryers. t Revised series. Data reflect adjustment to 1967Census of Manufactures; monthly revisions (1957-69) are available. .

ORadio production comprises table, portable battery, auto, and clock models; televisionsets cover monochrome and color units.


October 1970 SUKVEY OF CUKRENT BUSINESS S-35


1968 1969

Annual

1969


1970


PETROLEUM, COAL, AND PRODUCTS—Continued

COAL — Continued

Bituminous — ContinuedIndustrial consumption and retail deliveries,

total 9 thous. sh. tonsElectric power utilities doMfg and mining industries, total do

Coke plants (oven and beehive) - do

Retail deliveries to other consumers do

Stocks, industrial and retail dealers', end of period,total thous. sh. tons__

Electric power utilities _ doMfg. and mining industries, total. do

Oven-coke plants _ _ _ do __

Retail dealers _ - do

Exports doPrices, wholesale:

Screenings, indust. use, f.o.b. mine$ per sh. ton_

Domestic, large sizes, f.o.b. mine do

COKEProduction:

Beehive thous. sh. tonsOven (byproduct) _ doPetroleum coke§ do

Stocks, end of period:Oven-coke plants, total do

At furnace plants _ _ doAt merchant plants.. _ _ do

Petroleum coke doExports - _ do__

PETROLEUM AND PRODUCTS

Crude petroleum:Oil wells completed ___ number. .Price at wells (Oklahoma) $ per bbl _Runs to stills _ . _ mil. bblRefinery operating ratio ..% of capacity. _

All oils, supply, demand, and stocks:New supply, totalc? mil. bbl

Production:Crude petroleum doNatural-gas plant liquids _ do

Imports:Crude and unfinished oils doRefined products. do

Change in stocks, all oils (decrease,—). do

Demand, total _. . doExports:

Crude petroleum doRefined products do

Domestic demand, total 9 doGasoline__ _ _ . do _Kerosene _ do

Distillate fuel oil doResidual fuel oil . doJet fuel do

Lubricants __. doAsphalt doLiquefied gases _ _ _ _ - d o

Stocks, end of period, total doCrude petroleum doUnfinished oils, natural gasoline, etc doRefined products do . _ _

Refined petroleum products:Gasoline (incl. aviation):

Production doExports do.Stocks, end of period do

Prices (excl. aviation):Wholesale, ref. (Okla., group 3) $ per gal__Retail (regular grade, excl. taxes), 55 cities

(1st of following mo.) $ per galAviation gasoline:

Production mil. bblExports.. doStocks, end of period do

Kerosene:Production ._ doStocks, end of period doPrice, wholesale, bulk lots (N.Y. Harbor)

$ per gal. _

498, 830294, 739188, 45090, 765

15, 224

85, 52564,16821, 1699,537

188

50,637

5.3976.944

77562, 87819,038

5 9855, 637

3481,239

792

14, 4263.06

3, 774. 493

4 922 1

3 329 0553 7

501 7537 7

55.5

4 873 8

1.882 7

4,789 21 956 0

102 9

874 5668 2349 4

48 5141 2385 7

999 6272 298 9

628 5

1 940 02 1

211.5

.113

230

31.61 87.0

101 623 5

.113

507, 275r 308, 461185, 83592, 901

r 12, 666

' 80 48260, 59719, 7018 962

184

56 234

6 0527 487

71064 01420 574

3 1203* 020

991 0401 629

214,3683.18

3, 880. 192

5,102.8

3,363.8584.5

551.9602.7

-17.4

5, 126. 4

1.483.9

5,041.02, 042. 5

100.4

900.1721.9361.5

48.7143.3445.6

980.1265.2103.5611.4

2, 028. 22.5

217.4

.116

239

26.51 86.2

102 926 8

.111

41, 82826, 79414,4567,840

538

75,12856, 97517, 9806,618

173

4,927

6.0687.414

705,4121,752

3,8163,629

1861,235

121

1,2613.21

334.992

424.0

280 749.0

48 445.9

10 2

414 2

.18 5

405.6185 0

5 2

50 851 331 3

4 119 132 4

1 005 9

267 7104 6632 9

179 63

189.4

.120

240

2.51

5.5

7 629 7

.111

39,64624,54414,3157,714

748

*• 78, 71259,04619, 5027,338

221

4,882

6.0687.529

765,2741,734

3,6993,553

1461,131

100

1,1073.21

324.492

420 0

278 247 4

46 448 0

9 3

410 3

.17 g

402 6171 0

7 3

58 254 531 1

4 119 233 3

1 014 5262 5104 3647 7

174 34

194.3

.110

232

2.23

5.4

7 429 9

.111

41,74225, 226

••15,3988,092

1,074

83,54562, 32820, 9968,376

221

5,496

6.3427.836

695,5521 795

3 4303 309

1211 225

123

1,2173.21

325 890

429 5

284 850 1

47 g46 8

5 5

422 6

27 0

415 5177 2

7 1

62 458 61)0 I

4 6Ifi 7

39 1

1 020 0264 3104 °.

651 5

177 13

195 0

.110

oqo

2 32

5 6

7 630 6

.111

'42,42225,73515,5297,769

1,122

'83,32263,43321, 0188,807

211

5 751

6.4708.086

635,3331 827

3 3203 202

1191 237

146

1 0803 21

321 692

421 6

279 649 4

47 545 0

4 7

426 0

26 8

419 0163 6

9 q

82 9re c

3 7

9 0

40 A

1 015 3' 264 8

tni A.fi4Q 1

175 31

208 4

.118

OOQ

2 2j

5 8

8 029 4

.111

T 47, 19828, 95716, 8378,154

1,390

'80,48260,59719, 7018,962

184

4 843

6 5148.207

815 5701 881

3 1203 020

991 040

164

2 0803 21

342 594

465 4

294 g52 0

53 165 6

33 2

499 4

17 0

492 3174 519 fi

112 077 100 -I

q QA 7

48 1

980 1OCC 9

611 4

189 13

217 4

118

2 i

6 2

Q 89fi 8

.111

48, 26830, 16716,3677,772

1,734

52, 768

7 712

3 984

6.5268.393

695 3321 856

3 0322 946

861 187

89

1 0283 21

336 993

463 8

293 551 0

47 771 6

52 3

C1Q K

1

6 7511 71A4 ft

127 2OQ 7

4 1

927 9267 1105 4555 4

17fi ^1

231 9

.113

1 4d\6 3

10 29ft* 4

. n i l

42,41626, 12115,0607,356

1,235

49, 944

7,796

4 343

6 9268 529

615 0691 643

3 0342 969

651 173

152

1 1533 21

304 893

430 2

9R7 7

47 7

A A q

70 5

OQ 0

AK() f )

7 9AA"i 0

82. 228.7

4. 741. 6

907 19fiQ fi

cqq 9

157 02

238 8

113

1 32

5 9

Q 1

18 0

.111

44, 06726, 66816, 5028,582

894

49,549

8,390

5 309

7 0378.529

645,9781 696

3 0883 025

631 077

141

1 0413 21

335 993

470 5

294 552 3

50 373 3

— 1 0

472 4

17 2

465 1173 4

8 9

95 887 398 9

4 1fi q

38 9

906 2274 6107 8523 7

173 42

240 8

.110

. 9q7

1 61

5 6

9 e

18 5

.111

40 76124 17016, 1138 354

450

52,060

8 678

6 057

7 7588.864

635,8071 834

3 1003 043

551 132

212

9253 21

318 491

436 8

287 650 0

38 161 1

17 3

419 4

17 6

411 7171 3

5 4

74 263 607 2

4 410 032 2

923 4278 0112 5532 9

164 31

235.7

.110

r 9*>fi

1.61

5.4

7 520 8

.111

40 46124 11815, 8538 626

450

55 619

9 093

6 059

7 8198 950

595 9661 728

3 1213 063

58966195

1 0473 21

324 0r 87

436 3

295 251 8

40 748 5

28 1

407 1

7 8399 3183 6

5 0

60 351 397 7

4 0H q

29 0

951 6284 8115 0551 8

172 51

226 4

.133

r 948

1 6I

5 1

7 022 9

.118

41, 14225, 62515, 0588 315

420

57, 383

9 235

7 210

725,7491 929

2 9542 907

47966149

1 142

326 290

430 9

280 751 0

44 155 1

16 3

415 0

37 5

T 407 3187 4

4 3

52 658 298 1

4 718 829 8

967 9279 9115 5572 5

173 8I

214 9

r 94Q

1 31

4.7

7 426 3

44, 74827, 52216, 7568 471

430

54,825

6,517

6 269

69' 5, 442

3 0062,952

54

244

1 129

335 5

436 4

284 951 9

42 057 6

3 1

432 6

18 3

424 3195 2

5 0

50 359 232 5

4 221 331 9

971 0266 9113 8590 4

r 9^fi

5,532

655,368

2,9632,914

49

268

912

T 938 9qft

r Revised.i Less than 50 thousand barrels. 2 Reflects revisions not available by months.cf Includes small amounts of "other hydrocarbons and hydrogen refinery input," not

shown separately.9 Includes data not shown separately.§ Includes nonmarketable catalyst coke.




1968 1969

Annual

1969


1970

Jan . Feb. Mar. Apr. May June July Aug. Sept.

PETROLEUM, COAL, AND PRODUCTS—Continued

PETROLEUM AND PRODUCTS— Continued

Refined petroleum products— ContinuedDistillate fuel oil:

Production mil. bblImports doExports do _Stocks, end of period _. do- _ .Price, wholesale (N.Y. Harbor, No. 2 fuel)

$ per galResidual fuel oil:

Production mil. bblImports - doExports _- - -do_Stocks end of period doPrice wholesale (Okla No 6) $ per bbl

Jet fuel (military grade only) :Production mil. bblStocks end of period do

Lubricants:Production doExports doStocks, end of period doPrice, wholesale, bright stock (midcontinent,

f.o.b., Tulsa) $ per gal

Asphalt:Production mil bblStocks end of period do

Liquefied gases (incl. ethane and ethylene):Production total mil. bbl

At gas processing plants (L.P.G.) doAt refineries (L R G ) do

Stocks (at plants and refineries) do

Asphalt and tar products, shipments:Asphalt roofing total thous squares

Roll roofing and cap sheet doShingles all types do

Asphalt siding doInsulated siding doSaturated felts thous. sh tons

840.748.11.5

173.2

.103

275.8409.920.067.41.40

314.924.3

65.718.014.0

.270

135.520.1

469.3351.3118.176.2

78 04531 09946, 946

418411875

848.450.91.3

171.7

.101

265.9461.616.958.41 48

321 728.1

65.116.414.1

.270

135 716.8

502.0378.5123 559.6

82 68334 03748, 646

368346901

71.04.3.1

183.5

.101

19.234.11.5

66.11.45

27.630.2

5.81.7

12.8

.270

14.919.5

42.130.911.182.4

8 1853,2494, 936

344080

68.93.5.1

197.7

.101

19.535.11.0

65.61 45

25.128.9

5.41.5

12.7

.270

15.116.1

40.730.410.383.6

8 8713 5655 306

422785

70.52.3.1

208.0

.101

19.539.0

1.664.21.45

26.329.3

5.71.2

12.5

.270

13.513.2

42.832.610.279.9

8 8503 6305,221

395084

72.53.4.1

201.0

.101

21.433.81.6

62.71.45

25.629.5

5.81.1

13.6

.270

10.414.0

42.332.49.9

71.5

7 0603 1543,905

302373

76.95.9.1

171.7

.101

24.151.2

.858.41.45

27.728.1

5.71.4

14.1

.270

9.016.8

44.734.510.259.6

5 4632 5892,874

221768

79.56.7

(2)130.7

.101

26.056.01.5

49.51.65

23.927.1

5.51.3

14.3

.270

6.819.5

44.633.910.742.4

3 3871 7081, 679

207

51

71.95.7.1

111.5

.101

23.956.52.1

46.12.00

24.026.4

4.71.1

14.5

.270

6.721.6

41.931.610.337.0

3 4471 5661, 882

161345

77.77.6.1

101.0

.101

23.658.51.1

40.32.00

26 427 2

5.51.7

14.1

.270

9 324.8

45.334.810 637.6

5 1432 3502 793

202461

70.84.6.1

102.1

.101

19.847.31.4

42.82 00

24.529.2

5.41.3

13.8

.270

10.825.8

43.332.910.543.5

6 3402 6623 679

2599

73

70.83.4.1

115.8

.108

17.736.81.8

44.72 00

23.729.4

5.61.3

14.1

.270

13.024.9

44.934.110.854.6

7 8952 9244 970

203175

72.31.9

(2)137.5

17.043.61.3

46.0

24.930.9

5.31.2

13.6

14.521.3

43.633.010.663.2

r 8, 504'3,377' 5, 127

2339

T 78

8 7923 5625,230

293984

8 3843 5114,874

213582

PULP, PAPER, AND PAPER PRODUCTS

PULPWOOD AND WASTE PAPER

Pulpwood:Receipts thous. cords (128 cu. f t . ) - _Consumption doStocks, end of period do

Waste paper:Consumption thous. sh tonsStocks, end of period do

WOODPULPProduction:

Total all grades thous sh tonsDissolving and special alpha doSulfate doSulfite do

Groundwood doDefibrated or exploded doSoda semichem screenings etc do

Stocks, end of period:Total, all mills do

Pulp mills doPaper and board mills doNonpaper mills do

Exports, all grades, total doDissolving and special alpha doAll other do

Imports, all grades, total doDissolving and special alpha doAll other.. do

PAPER AND PAPER PRODUCTS

Paper and board:Production (Bu. of the Census):

All grades, total, unadjusted thous. sh. tons__Paper doPaperboard doWet-machine board doConstruction paper and board do

New orders (American Paper Institute) :All grades, paper and board do

Wholesale price indexes:Printing paper 1957-59-100Book paper, A grade do

' Paperboard doBuilding paper and board do

' Revised . * Preliminary.

i 59, 0411 59, 788

5, 676

10, 285586

i 39, 400> 1, 679

i 25, 505i 2, 431

i 4, 470i 1, 625i 3, 690

87035842686

1,902671

1,231

3,540302

3,238

50, 70322, 09124, 267

1554,190

50, 207

101.4119.691.192.7

62, 27662, 8134,788

10, 441608

41, 0571,701

27, 6282,337

4,2411,5853,564

79623046999

i 2, 1031744

1 1, 359

14,0401298

1 3, 743

53, 48823, 46025, 561

1334,333

53, 754

102.7122.994.497.1

5,4665,4053,949

909581

3,558156

2,420198

358133292

790286432

72

19679

118

30718

289

4,5131,9762,151

11374

4,553

102.7123.295.895.2

5,5805, 1794,241

883586

3,379133

2, 280191

345132297

78029341870

1486880

32022

299

4,3671,9272,047

11382

4,453

102.7123.295.995.1

5,8245,5474,537

908608

3,647150

2,482210

368131306

787284431

72

19160

132

40030

370

4,7112,0742,228

12397

4,709

102.7123.295.994.6

5,2555,4274,521

818598

3,594141

2,456192

359135310

83932144077

18263

119

35624

332

4,4551,9582, 150

11336

4,413

102.7126.496.094.4

i R

5,2745,0254,788

780608

3,263131

2,180197

341128286

79623046999

22072

148

35835

323

4, 2531,8852.046

8314

4,238

102 7126.496.093.9

eported a

5,0445, 4494, 432

838569

3,560154

2,422194

359127303

812294440

79

20063

137

30424

280

4,5862,0362,237

10304

* 4, 532

126.496.093.4

nnual to

5, 2735,1774,397

805572

3,425139

2,332187

353129284

811284457

76

20470

134

29421

273

4,2641, 8932, 057

9304

5,8135,5934,715

868569

3,587145

2,445201

362131303

82327547474

22480

145

34825

323

4,5322,0472,142

11332

127.597.193.0

ial; revis

5,6115,5364,811

872563

3,579142

2,431208

366134298

83229945974

25481

173

30424

280

4,6242,0532,198

14359

127.5 ! 127.597. 0 97. 092.9 93.4

ions not allocated

5, 4495,5484,745

832552

3,624160

2,447203

374134305

868348450

71

24350

193

29623

273

4,4691,9442,160

12353

127.596.793.3

to the m

5,5915,4784,892

854556

3,475120

2,371203

357133291

867340459'68

26996

173

30915

293

4,3771,8982,103

15361

5,5315,2515,193

736594

3,352140

2,268181

359134269

91535948670

27365

208

29213

280

p 4, 065p 1, 785p 1, 898

P l 2p371

32580

245

27021

249

onths. 2 Less than 50 thousandbarrels.



Unless otherwise stated in footnotes below, datathrough 1968 and descriptive notes ar as shownin the 1969 edition of BUSINESS STATISTICS

1968 1969

Annual

1969


1970


PULP, PAPER, AND PAPER PRODUCTS—Continued

PAPER AND PAPER PRODUCTS— Con.

Selected types of paper (API):JGroundwood paper, uncoated:

Orders new thous.sh. tons-Orders unfilled, end of period . __ ..doShipments do

Coated paper:Orders new doOrders unfilled end of period doShipments - - do.- .

Book paper, uncoated:Orders new doShipments - -- -- do ..

Writing and related papers:Orders new doShipments -- -- do

Unbleached i-raft packaging and industrial con-verting papers:

Orders new doOrders unfilled end of period doShipments - do__

Tissue paper production do

Newsprint:Canada:

Production - d o _ _ .Shipments from mills _ _ _ do _ _Stocks at mills end of period do

United States:Production doShipments from mills _ do .Stocks at mills end of period do

Consumption by publishersd" _ doStocks at and in transit to publishers, end of

period thous. sh. tons

Imports doPrice, rolls, contract, f.o.b. mill, freight allowed

or delivered $ per sh. ton

Paperboard (American Paper Institute):Orders, new (weekly avg.) thous. sh. tonsOrders, unfilled §. _ _ - -do ._Production, total (weekly avg.) do

Paper products:Shippirg containers, corrugated and solid fiber,

shipments. mil. sq. ft. surf, area..

Folding paper boxes * . thous. sh tonsmil$.

8,0318,096

203

2,9352,946

27

7,025

633

6,462

141. 40

454869480

173, 814

2, 575. 01, 162. 0

1,171107

1,123

3,230200

3,313

2,5152,587

2,9512,899

3,922189

3,8653,588

8,7588,741

220

3,2323,233

27

7,344

699

6,790

146. 10

479939510

185, 536

2, 627. 01,229.0

100130100

282229284

212221

246245

341189329295

751705362

27125963

582

683

539

146. 10

504963514

15, 546

221 .4104.0

8310891

266226272

197210

236242

316192328304

706725343

255257

62

606

676

606

146. 10

506963489

16, 725

226.1107. 9

105102104

289239294

230229

268262

323181320320

794804333

28829158

666

686

614

146. 10

5421,004

524

17, 959

243.8115.6

11412294

242223269

202214

238239

297173317310

760808285

27929046

682

665

571

146. 10

526965523

14, 321

206.498.0

9410791

245200275

196217

233234

344189319298

730795220

255275

27

631

699

625

146. 10

479939554

14, 535

232.4109.0

949793

287232278

222231

242247

337195328

'308

749659310

27926145

563

737

545

150. 50

509975522

14, 469

210 2101.3

9210289

269244254

195211

210r224

312199318290

692646357

25824755

539

743

497

150 50

521855521

14, 152

195 195.2

'ii4'117'96

'285'244'288

'218'228

239248

344187355305

750704402

27327851

617

710

568

150 50

515805514

15 233

223 7108.7

'93'119'93

r277'229'282

'212'223

247243

'307'140'325313

752701452

27427451

624

704

563

150. 50

497770508

15 370

208 1100.8

104115101

'256'219'270

'212'218

'241'244

'289'110'309'314

715716451

29027765

643

654

535

150 50

512749511

15,021

198 898.1

9696

104

260221265

'202'207

'241'242

335132322

'312

671734388

28928569

582

683

541

493691502

15, 569

210.3103.7

P106P106

P90

P251p219P254

pl92pl94

p214P224

P281pillP286p308

698673412

27226675

544

693

539

451723436

15, 147

' 202. 5' 100.2

694670436

28927787

559

712

484

492711489

15, 394

P201.6P99.9

467732454

RUBBER AND RUBBER PRODUCTS

RUBBER

Natural rubber:Consumption thous Ig tonsStocks, end of period doImports, incl. latex and guayulc do

Price, wholesale, smoked sheets (N.Y.)__$ per Ib..

Synthetlc rubber:Production thous Ig tonsConsumption.. . . doStocks, end of period do

Exports (Bu. of Census) do

Reclaimed rubber:Production doConsumption _ doStocks, end of period ... do

TIRES AND TUBES

Pneumatic casings, automotive:Production thous

Shipments, total doOriginal equipment doReplacement equipment. _ doExports do

Stocks , end of period doExports (Bu. of Census) do

Inner tubes, automotive:Production. _ . doShipments doStocks, end of period doExports (Bu. of Census) . _ do

581. 86107. 76540. 17

.198

2,131.101 1,896.15

368. 16

291. 03

257. 22250. 4329.58

2203, 0602 199,155

2 58 3922 137, 562

2 3 202

42 1282 518

43 79143, 95711 8281,390

« 598. 27106 49585. 28

.262

a2,250.19°2,024.06a 441 03

226. 49

a 238 92a 231. 77

29 27

207, 826

2 204, 7772 55 704

2 146, 6502 2 423

49 1522 364

41 6572 44 860

11 1911,098

46.86104 4555.19

.314

182 24159.72428 41

23.65

18 9816.9731.73

15 829

15, 6783 428

12, 025224

44 686275

3 0923 495

11 10399

52.44107. 4149. 49

.279

190 23178.46423. 78

21.68

19 3218.8731. 15

17, 752

19, 4945,519

13, 718258

43 386322

3,5763,826

11 171111

55.56104 4959.45

.265

200 93190.80417 14

24.44

21 3521 9731 32

19 151

20, 3905 836

14, 249305

42 331298

3 9134 361

11 02083

48.26103 0649.26

.250

187 86164.98424. 39

20.32

17 4216.9931.08

16 738

14, 4074 7509 519

138

44 898187

3 2633 324

11 12579

49 93106 4950.51

.238

198 64168.65441 03

23 11

17 9418.5829 27

17 789

13, 7464 0419 505

200

49 152166

3 0733 1T>

11 19183

49 98104 91

59 03

.255

193 11169. 07434 37

23 36

18 7717 5430 46

18 174

13 8954 1509 625' 120

53 750156

3 3843*971

10* 81184

48 2798 5844 05

.251

178 91166 69436 75

23 68

18 3817 4930 51

17 522

14 5193 681

10? 651187

57 10590

2 gig3*371

10 754' 67

50 0295 1456 82

.223

186 76177 35433 30

22 27

18 4819 0328 42

17 606

18 9084 403

14' 320185

56 400' 150

3 3363 783

10 393111

48 1196 4245 66

.221

178 68170 39499 36

26 14

17 4517 3427 28

17 216

19 5594 507

H' 877175

54 620114

3 9783*666

10 22271

35 8398 3142 10

.218

182 24129 16457 52

25 25

13 2613 6727 87

12 642

18 2864 912

13 201173

49 670H<)

2 0603 0249 680

85

'43 93'89 6941 64

.216

'179 64'156 68'455 57

27 25

15 46'15 58'26 63

15 658

20, 8625 628

15 077156

45 196133

2 7653 678q 111

85

43.0391 7437.78

.201

181 26150. 50464. 00

23.24

17.1415.4426.77

15 466

15, 3672 346

12, 906114

45 978107

3 1273 390() 252

99

33.73

.195

23.28

125

71

.191

r Revised. v Preliminary. 1 Revisions for Jan.-Aug. 1968 for synthetic rubberconsumption are as follows (thous. Ig. tons): 162.96; 154.29; 162.07; 155.85; 162.67; 153.44; 135.82;154.33. 2 Annual total includes revisions not distributed to the months.

{Data have been regrouped by the American Paper Institute; details and available earlierdata appear in their April 1970 Monthly Statistical Summary.

d" As reported by publisher? accounting for about 75 percent of total newsprint consumption.§ Monthly data are averages for the 4-week period ending on Saturday nearest the end of the

month; annual data are as of Dec. 31.*New series. Monthly data are available back to 1955.a Revisions for Jan.- May 1969 will be shown later.




1968 1969

Annual

1969


1970


STONE, CLAY, AND GLASS PRODUCTS

PORTLAND CEMENT

Shipments finished cement thous bbl

CLAY CONSTRUCTION PRODUCTS

Shipments:Brick, unglazed (common and face)

mil standard brickStructural tile, except facing thous sh tonsSewer pipe and fittings vitrified doFacing tile (hollow) , glazed and unglazed

mil brick equivalentFloor and wall tile and accessories, glazed and un-

glazed mil sq ftPrice index, brick (common), f.o.b. plant or

N Y. dock 1957-59-100

GLASS AND GLASS PRODUCTS

Flat glass, mfrs.' shipments thous. $

Sheet (window) glass shipments doPlate and other flat glass shipments do

Glass containers:Production thous gross

Shipments domestic total doGeneral-use food:

Narrow-neck food doWide-mouth food (incl. packers' tumblers,

jelly glasses and fruit jars) thous gross

Beverage doBeer bottles doLiquor and wine do

Medicinal and toilet doChemical, household and industrial doDairy products do

Stocks, end of period do

GYPSUM AND PRODUCTS (QTRLY)

Crude gypsum, total:Imports _ . thous. sh. tonsProduction do

Calcined, production, total do

Gypsum products sold or used, total:Uncalcined uses doIndustrial uses doBuilding uses:

Plasters:Base-coat doAll other (Incl. Keene's cement) do

Lath mil sq ftWallboard... doAll other do

1397 448

7, 556. 8192.5

1 705 5

220 6

274.5

117.1

387, 469

139 391248 078

(8)

(8)

(8)

(8)

(6)(•)(8)

(8)(8)(8)

23 518

5,45410 018

8 844

4 935301

536778

9998 283

269

1409 564

7 289 7241.5

1 783 5

209 0

284.8

122 3

416, 870

150 123266 747

259 373

250 212

24 172

57 828

55 84851 08620 324

35, 9164,455

583

30, 167

5,8589,881

9 324

4,681316

473702917

9,090275

42 988

669.419.0

170 7

16 9

24.0

122.7

22 362

22 623

2,590

5 269

4,8414,9271,668

2,90238145

30,960

43 086

654. 618.2

177.8

17 8

23.8

123.2

98, 425

36 38562 040

21, 377

22 732

2,817

5 333

4 5614,7471,840

3,02036648

29, 275

1,8762 697

2 407

1 31877

124195

2352 359

70

43 585

686 320.4

167.6

19 4

25.0

123 2

22, 879

20 627

1,919

5 361

4 0933,9221,853

3 03839744

31 263

31 249

529 618.8

136 0

15 4

20.5

123 5

20 579

18 554

1,557

4 595

4 1423,4341,607

2,88428946

33 051

25 984

453.917.1

118.6

16 6

21.3

123.5

108, 303

37 18071 123

19 460

22 151

1,737

5 095

6 0304 0731,710

3 075381

50

30 167

1,4972 448

2 218

1 16278

105163

2122 213

59

16, 932

300.415.991.9

11.5

19.2

124.8

20, 824

17 913

1,705

4 372

3 9903,1921,524

2,84325433

33 032

20, 039

385.614.896.3

10.7

19.4

124.8

20,300

18, 570

1,877

4 331

4,2213, 4991,479

2, 80632928

34, 381

25, 722

543.317.7

142.2

12.8

22.8

125.4

88, 765

29 04059,725

21, 927

24, 705

2,014

5,141

6,3425,4152,097

3,23742831

31, 313

1,2062,181

2,000

70276

108140

1841,899

46

32, 912

574.817.7

134 4

16 2

22.2

126.5

22, 555

20, 110

1,927

4 200

4,8394,4071,685

2,70532027

33,540

36, 385

579.417.5

138.4

10.6

20.5

127.0

23, 293

21,411

1,963

4 140

5,9564,9881,505

2,545285

29

35 204

39, 699

r 617. 0••20.1153.5

r 15. 1

' 22. 8

90, 633

31, 09259, 541

23, 033

23, 798

2,043

4,731

6,9095,2051,699

2,86432225

34, 016

1,3962,524

2,238

1,28486

106154

1872,258

64

42, 284

628.417.8

160.0

17.4

22.2

'22, 589

'22, 051

1,847

4,689r 6, 532' 4, 922' 1, 303

' 2, 459••273

26

'34, 404

41, 630

24,962

23, 970

2,851

5,293

6,3234,7741,670

2,73429431

35, 155

TEXTILE PRODUCTS

WOVEN FABRICS

Woven fabrics (gray goods), weaving mills:JProduction total 9 mil linear yd

Cotton doManmade fiber do

Stocks, total, end of period 9 cf doCotton doManmade fiber do

Orders, unfilled total end of period 9 If doCotton doManmade fiber do

COTTON

Cotton (excluding linters):Production:

GinningsA -- . thous. running balesCrop estimate, equivalent 500-lb. bales

thous. balesConsumption doStocks in the United States, total, end of period

Domestic cotton total doOn farms and in transit doPublic storage and compresses doConsuming establishments do

Foreign cotton, total do...

12 6937 4085 052

1 366739611

3 0981 6271*384

10, 917

10,9488 568

12 97812 9261 5489 8071 ^71

52

12 9067 1595 546

1 404659730

2 7791 5351 165

r 9 944

10 0148 294

r 19 9fi^r ^2 248

r 1 3239' 6531 979

17

986552420

1 372691668

3 0241 5931 358

528

629

'15 619r 15' 586r 9 881

4* 2581 44.7

33

965533419

1 376674689

2 9021 4961 333

' 1 606

634

T j^ 857r 14 g34r 9 013

4* 5261 OQ,£

23

21 2312 6722 544

1 343663668

2 8471 5001 275

5 789

2 810r!3 901T 13 879

T 5' 3107*526I ftAQ

21

979543423

1 335639682

2 8381 4981 265

r 8 385

646

r jg -Myr 13 129

T 2 9529 0791 0Q8

19

2 1 1752 6502 509

1 404659730

2 7791 5351 165

rsg H6

2 717

r 19 9fif»r 1 9 94.Rr i 323

9 6531 979

17

948522410

1 401655729

2 6791 4831 112

'4 9 821

635

r 1 1 9 Wl

r n 243r 1 075

8 832I qoc

16

958527414

1 417658743

2 6201*4511 090

626

r 10 324rio 303

r 8667 9771 460' 21

21 19126322 538

1 389622749

2 5101 3961 047

'59,944

5 10, 0142 780

r 9 312r 9 294

r 7167 0081 569

19

910491404

1 389'606765

2 4821 3931 026

616

r 8 405r 8 383

r 6306,1601 592

23

924502406

1 409594799

2 5221 4381 030

609

r 7 506r 7 486' 5855 3631 538

20

21 0282 5282 482

1 429584830

' 2 4601 425

983

2 730r6 517r 6 498

'4174,6211 460

19

791459322

1,438587836

2,5121,481

983

6

••532

r 5 760'5 733

360' 3, 962' 1 411

'27

280

"10,618584

15, 78915, 77310, 8753,6391,259

15

1,122

' Revised. 1 Reported annual total; revisions not allocated to the months. 2 Datacover 5 weeks; other months, 4 weeks. 3 Ginnings to Dec. 13. * Ginnings to Jan. 16.* Crop for the year 1969. o Data not available owing to lack of complete reports fromthe industry. 7 Oct. 1 estimate of 1970 crop. 9 Includes data not shown separately.

{Effective Aug. 1969 SURVEY, data (1964-Apr. 1969) reflect adjustments to new bench-marks; see Bureau of Census reports: Woven Fabrics (1964-68), Series M22A-Supplementand (Jan.-Apr. 1969), M22A (69) 1-4 Supplement.

cTStocks (owned by weaving mills and billed and held for others) exclude bedsheetmg,toweling, and blanketing, and billed and held stocks of denims.

1 Unfilled orders cover wool apparel (including polyester-wool) finished fabrics; productionand stocks exclude figures for such finished fabrics. Orders also exclude be-isheeting, toweling,and blanketing.

ATotal ginnings to end of month indicated, except as noted.




1968 1969

Annual

1969


1970


TEXTILE PRODUCTS—Continued

COTTON— Continued

Cotton (excluding linters)— ContinuedE xports thous. balesImports - ... . -. do

Price (farm), American upland cents per lb__.Price, middling 1", avg. 12 markets do

COTTON MANUFACTURESSpindle activity (cotton system spindles) :

Active spindles, last working day, total milConsuming 100 percent cotton do

Spindle hours operated, all fibers, total bilAverage per working day - do

Consuming 100 percent cotton do. .

Cotton yarn, price, 36/2, combed, knit $ per IbCotton cloth:

Cotton broadwoven goods over 12" in width:Production (qtrly ) mil lin yd

Orders , un filled, end of period, as compared withavg weekly production No. weeks' prod

Inventories, end of period, as compared with

Ratio of stocks to unfilled orders (at cottonmills) end of period seasonally adjusted

Exports raw cotton equiv thous balesImports raw cotton equiv do

Mill margins:Carded yarn cloth average cents per lb._Combed yarn cloth average doBlends (65% polyester 35% cotton) do

Prices, wholesale:Print cloth 39 inch 68 x 72 cents per yardSheeting class B 40-inch 48 x 44-48 do

MANMADE FIBERS AND MANUFACTURESFiber production, qtrly total mil. Ib

Filament varn (ravon and acetate) doStaple incl tow (rayon) doNoncellulosic, except textile glass:

Yarn and monofilaments doStaple, incl. tow do

Textile glass fiber do

Fxports" Yarns and monofilaments thous IbStaple, tow, and tops do

Imports* Yarns and monofilaments doStaple tow and tops do

Stocks, producers', end of period:Filament yarn (rayon and acetate) mil. IbStaple, incl. tow (rayon) . .. doNoncellulosic fiber, except textile glass:

Yarn and monofilaments doStaple, incl. tow _ _ .. do .

Textile glass fiber do

Prices, manmade fibers, f.o.b. producing plant:Staple* Polyester 1 5 denier $ per IbYarn: Rayon (viscose), 150 denier... do

Acrylic (spun), knitting, 2/20, 3-6D..do_...Manmade fiber and silk broadwoven fabrics:

Production (qtrly.), total 9 mil. lin. yd-.Filament yarn (100%) fabrics 9 - — do

Chiefly rayon and/or acetate fabrics doChiefly nylon fabrics do

Spun yarn (100%) fab., exc. blanketing 9 --doRayon and/or acetate fabrics and blends

do

Filament and spun yarn fabrics (combinationsand mixtures) mil. lin. yd...

WOOLWool consumption, mill (clean basis):

Apparel class... _ mil. Ib,.Carpet class do

Wool imports, clean yield doDuty-free (carpet class) do

Wool prices, raw, clean basis, Boston:Good French combing and staple:

Graded territory, fine $ per lb._Graded fleece, % blood do

Australian, 64s, 70s, good topmaktng do

WOOL MANUFACTURESKnitting yarn, worsted, 2/20s-50s/56s, American

system wholesale price 1957-59 ~ 100Wool broadwoven goods, exc. felts:

Production (qtrly ) mil lin ydPrice (wholesale), suiting, flannel, men's and

bovs'. f.o.b. mill 1957-59=100..

3,87095

122.0122.9

20.013.1

128.0.49385.9

1.049

7,476

13.8

5 3

40

256.0559.6

37.733 93.25

64.40

17.318.6

5, 159. 5805.2739.1

1, 662. 11, 550. 4

402.7

96 390108, 253

8 59 303217, 707

59.459.0

194.3210.947.3

61.85

1.42

5,203.61, 737. 2

779.88 347. 8

2, 749. 4

678.01 751 9

482.9

238.391.4

249.4119.6

1.207.840

1.180

91 0

243 3

100.9

2,39746

720.8122.2

19.612.4

125.6.47680.9

1.027

6,965

15.0

6.0

.42

331.1573.4

43.27* 108. 02

59.16

18.7

5, 520.2774.4758.8

1, 766. 91, 718. 7

501.4

100, 539127,48441,063

159, 404

78.475.6

259.8247.670.6

.61

.891.42

5, 396. 91, 690. 7

776.4s 345. 0

2, 953. 7

629.81 885 7

517.0

219.093.8

189.295.7

1.221.862

1.174

92 6

228 2

102.6

1471

20.521.6

19.812.89.6

.4806.2

1.024

12.9

5 3

40

27.157.2

43.51107. 4260 03

19 018 8

9 88610, 4334 564

16 946

61.89

1.42

16.97.0

23.714.0

1.220.850

1.195

92 3

103.0

1414

19.421.4

19.712.79.6

.4806.1

1.027

1,608

12.7

5.4

.41

26.345.2

44.03107. 6059.52

19.0

1,403. 4195.8189.1

445.3443.3129.9

8 77411,1222 979

12, 989

80.556.2

263.2249.2

56.9

61.89

1.42

1,257.3395.0179.382.6

681.2

143.8431 6

124.6

14.27.7

12.37.1

1.220.850

1.195

92 3

48 1

103.0

16713

21.721.7

19.712.6

212.1.48327.7

1.027

12.8

5.4

.42

30.143.2

44.06107. 4660.36

19.019.3

9 23011, 7991 003

13 997

61.89

1.41

» 19.52 9.8

7.54.2

1.218.850

1.175

92 3

103.0

1236

21.421.9

19.712.69.5

.4756.0

1.024

13.1

5.1

.39

39.148.9

43.96107. 8760.71

18.5

8 88711,' 6364 533

12,227

61.89

1.41

14.76.7

17.59.3

1.210.890

1.089

92 6

103.0

1761

20.022.0

19.612.4

2 10.6.42426.7

1.024

1,723

15.0

6.0

.42

34.944.0

43.92109.0161.02

18.519.0

1,368.6183.9187.5

435.1422.1140.0

8,71013, 0195 8728,726

78.475.6

259.8247.670.6

.61

.891.41

1,341.2421.0198.578.9

726.9

130.5478 6

134.3

216.127.316.47.2

1.198.890

1.075

92 5

45 7

103.0

3823

19.122.0

19.612.49.4

.4705.9

1.021

13.0

5 6

43

28.252 7

43.92108. 8161 11

18 519 3

9 86113 7625 031

16 317

61.89

1.41

16.05.8

12 95.8

1.185884

61.034

92 5

103.0

3258

20.222.1

19.512.29.3

.4665.8

1.021

12 7

5 5

45

23 149 9

43.86108 0060 43

17 8

12 69213 6656 755

14 705

61.89

1.41

15.65 7

1*> 76.1

1.185865

6 1. 014

92 6

103.0

2464

20.722.2

19.512.2

2 11. 5.45927.2

1.014

1,664

12.8

5.5

44

29.152.0

43.79106.81

17 8

1 379 6181 7171 7

446 3452 0127 9

1 ^fvi

16 1138 7C-I

13 772

80 692 o

258.4251 378 4

.891.42

'1,339.5'406.5r 186 1

76.0' 743. 1

r 124. 2r 502. 1

133.5

2 18 82 7 9

6 4

1.110

6 1. 010

92.9

58 4

103.0

3087

21.422.4

19.312.18.9

.4475.6

1.008

13.2

5 5

43

28.040.7

43.65105.11

9 15 8

19 •V?^

14 273ft S7A

12 483

M

.891.42

15 619 o

4 7

1.081OAK

« 1. 019

93.0

103.0

2992

22.122.6

19.111.99.0

.4515.6

1.008

13.3

5.4

.41

25.052.0

43.41101. 65

915.8

15 21212 9809 085

12 028

891.42

14 1

11. 34 3

1.070

61.025

93 7

103.0

2692

22.322.8

19.111.9

2 10 6.42226.5

15.7

6 0

37

21.242.1

43.3399.07

1, 334. 4179.5141.2

441.7447.9124.1

16 94212,10611 96611,168

84.590.3

280.6254.187.7

1, 296. 3382.0m e

70.1737.7

104.1511.0

122 1

2 16 3

7 8

1.055

61.020

54 5

1862

22.623.0

'19.1•-12.0

7 8.3884.8

14.9

5.6

.38

19.352.5

43.1198.78

11 08314, 19715 424ll', 425

r 9 8

5 8

1.025

6.982

841

22.623.0

19.111.98.7

.4345.3

13.1

5.1

38

16.537.2

42.98

11, 64711,88013 8369,310

10 87 1

9 2

1.025can

6.952

21.923.0

43.29

.953SftA

6 .854

r Revised. 1 Season average. 2 jror 5 weeks; other months, 4 weeks. 3 Averagefor 6 months, July-Dec. * Beginning 1969, the average omits two cloths previously in-cluded, s Revised total; revisions not distributed by months. 6 Beginning Jan. 1970,quotation refers to Australian wool, 64's, Type 62; comparable prices prior to 1970 are not avail-

able. 7 Season average through Apr. 1970 for all cotton. 8 Omits quantities of chieflynylon combination fabrics. 9 Beginning Apr. 1970, avera?3 is for cloth SSMs-insh, 61x56,5.50 yds./lb.; data not comparable with prices for periods prior to Apr. 1970.

9 Includes data not shown separately.



Unless otherwise stated in footnotes below, datathrough 1968 and descriptire notes are as shownin the 1969 edition of BUSINESS STATISTICS

1968 1969

Annual

1969


1970


TEXTILE PRODUCTS—Continued

APPAREL

Hosierv sh ipments thous. doz. pairsMen's 'apparel, cuttings:

Tailored garments:Suits thous. unitsCoats (separate) , dross and sport doTrousers (separate) dress and sport do

Shirts (woven) dress and sport thous dozWomen's, misses', juniors' apparel, cuttings:

Coats thous unitsDresses . « _ doBlouses and shirts thous dozSkirts do

225,588

20 56414 237

165 10421 771

21 592277, 95815 2938 168

r 246 462

20 82914 136

167 36021 252

19 859255, 22814 4577 694

r22 462

1 7521 182

14 7981 694

1 72720,0681 074

738

20 897

1 6251 026

14 040i'goo1 804

20 3911 119

683

24 166

1 8501 354

14 0979 058

2 10722 1481 543

722

20 306

1 6761 102

13 9231 875

1 77218 1691 308'500

17 631

1 3781 052

11 3901 782

1 50316, 8501 097

443

17 881

1 5401,036

13 7301 791

1 71219, 2591,220

643

18 511

1 489928

13 8901 985

1 52221,9121 357

558

19 267

1 6141,013

15 2991,972

1 20723,1621,348

683

18 900

1,5711,092

16 1402 005

99222,8941 293

571

18 477

1,5031.022

14, 6941,867

1,19120, 0551,153

572

22,403

' 1, 267'992

' 14, 578••1,993

1,549'21,770' 1, 236

'676

20,972

831566

13,3341,519

1,47418, 2441,077

608

20, 161

TRANSPORTATION EQUIPMENT

AEROSPACE VEHICLES

Orders, new (net), qtrly. total mil $U.S. Government. do

Prime contract doSales (net), receipts, or billings, qtrly. total.-do

U.S. Government do

Backlog of orders, end of period 9 doU.S. Government. - do

Aircraft (complete) and parts doEngines (aircraft) and parts doMissiles, space vehicle systems, engines, propul-

sion units, and parts mil $Other related operations (conversions, modifica-

tions), products, services.. mil. $

Aircraft (complete):Shipments © do

Airframe weight 0 . thous. IbExports, commercial... mil. $

MOTOR VEHICLES

Factory sales (from plants in U.S.), total thous..Domestic do

Passenger cars, total do ..Domestic do

Trucks and buses, total doDomestic., _ do

Retail sales, new passenger cars : *Total, not seasonally adjusted thous. .

DomesticsA doImports A do

Total, seasonally adjusted at annual rates milDomesticsA doImports A --- .- do

Retail inventories, new cars (domestics), end ofperiod: *A

Not seasonally adjusted thous . .Seasonally adjusted do

Inventory-sales ratio, new cars (domestics)* Aratio.

Exports (Bureau of the Census):Passenger cars (new) , assembled thous

To Canada doTrucks and buses (new), assembled do

Imports (Bureau of the Census):Passenger cars (new), complete units do

From Canada total doTrucks and buses, complete units do

Truck trailers (complete) , shipments number. .Vans do

Trailer bodies and chassis (detachable), soldseparately number

Registrations (new vehicles): OPassenger cars thous . .

Import cars doTrucks do

RAILROAD EQUIPMENT

Freight cars (ARCI & AAR):ShipmentScT number

Equipment manufacturers doNew ordersd" . ___ __ . do

Equipment manufacturers doUnfilled orders, end of periodcf do

Equipment manufacturers doFreight cars (revenue), class 1 railroads (AAR):§

Number owned end of period thousHeld for repairs % of total owned

Capacity (carrying), aggregate, end of periodmil. tons--

Average per car _ _ _ _ _ _ _. - ._ tons.-

27,16816,57724,57525, 59216,635

30,74916,34316,6083,951

5,083

2,834

4, 355. 176,202

1, 403. 1

10,718.210,172.28, 822. 28,407.11, 896. 11, 765. 1

9,6568,6251,031

1,4491,525

330. 46286. 7892.03

11,620.451500.88i 114.65

113, 92875, 148

33, 761

19,403.91985.8

11,775.6

56, 26238, 991

»63,561i 49, 391

31, 74024, 540

1,4585.2

93. 8264.34

22,00514,52119,28924,64816,560

28, 29714, 29815,6103,578

4,338

2,881

3, 593. 460, 117

1,239.2

10, 142. 89, 583. 68,223.77, 806. 51,919.11, 777. 1

9,5828,4641,118

1,4671,542

333. 45292.11

3 103. 23

1,846.72691. 15146.01

138,34794, 808

33, 332

9, 446. 51,061.61, 888. 8

68, 45254,07284, 34565. 40146, 75135, 508

1,4385.6

94.3765.62

267.74,09693.0

473.7446.5346.4329.5127.3117.0

65455599

9.68.41.2

1,3041,556

2.2

10.929.487.97

120. 3826.589.70

10, 7027,554

2,827

5 718. 8595.6

5 153. 8

5, 4824,0322,6792,284

47,91539,816

1,4425.5

93.9865.19

5,6994 1455,1865,7963,926

29 28415, 12316, 1603,988

4 282

2,799

198.73,76436.1

907.3849.9751.6706.5155.7143.3

80770998

10.19.01.1

1,3671,601

2.1

35.1331.397.45

148. 6568.3711.90

11,9038,730

3,651

s 733. 4595.1

s 149. 1

6,8814,8794,5044,021

45,13338,853

1,4415.5

94.1565 35

249.64,151107.4

1,048.5995.7856.8815.6191.7180.1

9248171079.88.61.2

1,4401,668

2.3

34.4728.308.87

177. 6676.6113.94

12,3598,761

3,532

5 955. 65 112. 65 174. 4

6,9725,1813,7823,148

42,04336,920

1,4405.5

94. 2265.45

224.73,438

71.6

855.2807.4682.1644.0173.2163.3

79770691

9.38.11.2

1,4521,603

2.4

32.8427.927.48

154.0270.843.86

10, 7687,754

3,727

* 757. 5593.6

5 146. 8

6,2734,9418,2643,456

43,46035,361

1,4405.5

94.3865.23

5,6163,7234 9496 6094,545

28 29714 29815,6103,578

4 338

2 881

342.65,464143.0

788.7741.5624.0588.8164.7152.7

72263983

9.07.81.2

1,4671,542

2.4

30.3925.968.33

165. 1173.2513.90

9,8996,556

4,039

* 5912. 5* 5101. 7« 5185. 0

5,7654,6409,0224,753

46, 75135, 508

1,4385.6

94.3765.62

209.63,389156.6

719.1683.5571.4545.0147.7138.5

62453985

8.57.41.1

1,5631,481

2.4

18.7614.646.40

177.0659.1912.04

10,0046,795

3,461

5 619. 1581.8

5 130. 9

4, 2823,4842,0322,032

44, 20133,756

1,4385.7

94.4565.69

326.45,037159.9

689.2650.8555.2528.4134.1122. 4

68659888

9.28.01.2

1, 5551,428

2.2

19. 1915.448.66

167. 7961. 3510. 29

9, 8246, 547

3, 947

• 578. 4« 73. 8

« 124. 4

5, 7554, 8593, 6323,236

40, 70130, 759

1, 4355.6

94. 4565. 80

' 4, 698' 2, 928' 4, 036«• 5, 976' 3, 907

••27,124••13,434T 14, 821'3,343

' 4, 236

2,779

341.55,971162.2

776.9732.2626.2594.4150.7137.8

74564699

8.67.51.1

1,5731,420

2.3

18.4013.9810.61

177. 0770.009.99

10,2537,237

3,300

7 741.1799.8

7 155. 2

6,6325,3863,0801,948

36, 42626, 595

1,4345.7

94.5265.91

429.76,899159.5

807.5760.9661.3627.2146.2133.7

7986911079.07.81.2

1,5781,428

2.2

35.8532.168.81

205. 7274.179.85

9,0956,062

2,189

5768.45100.05 161. 9

6,4484,8005,5015,501

34, 49126, 308

1,4355.6

94.7666.05

419.17,116240.5

890.1839.5724.4684.4165.7155.1

8116991129.07.71.3

1,6321,458

2.3

33.1130.048.79

174. 7374.3610.13

9,8717,057

2,056

5 784. 45104.2s 158. 9

5.8324,2272, 3872,218

31,04624, 299

1,4345.7

94.8566.15

4,5203,3994,0596, 4804,191

25,16412,64113,8682,964

3,829

2,678

r 208. 5' 3, 236

96.5

991.0931.0805.3758.4185.7172.6

9228001229.48.11.3

1,6741,483

2.2

39.0836.408.68

187. 7679.1610.52

' 8, 679' 5, 630

r 2, 293

5900.9s 118. 6s 176. 6

6,1154,4785,2183,487

30r14923, 308

1,4335.5

95.3266.52

288.24,495123.8

627.5600.5481.6464.3145.9136.2

7636411229.27.81.4

1,5091,504

2.3

16.8314.707.69

150.6446.864.05

8,3875,880

1,590

5837.75 112. 2s 179. 4

5,4464,4574,3404,226

29,04023, 074

1,4335.6

95.4666.63

303.94,96955.2

413.4384.4272. 4254.0141.0130.4

6385261128.97.61.3

1,2691,521

2.4

13.8912.557.46

95.1419.014.40

7,5924,895

1,874

5683.25 109. 95 159. 4

5,1644,1272,1482,148

25, 78220, 853

1,4335.8

95. 7766.81

2 614. 6

2 478. 3

2 136. 4

57948891

8.87.81.0

1,2611,496

2.3

r Revised. 1 Annual total includes revisions not distributed by months. 2 Preliminaryestimate of production. 3 Beginning 1969, data exclude vehicles on runners and skis. 4 In-cludes delayed registrations for several States. s Omits data for one State. • Omits datafor three States. 7 Omits data for two States.

*New series. Data for domestics from Automobile Manufacturers Association, for imports,compiled from industry sources; data are seasonally adjusted by OBE.

ADomestics refer to U.S.-type cars produced in the United States and Canada; imports

refer to foreign-type cars only and exclude domestics produced in Canada.cf Beginning May 1969, data (American Railway Car Institute and Association of American

Railroads) refer to new cars for domestic users; cancellations are not reflected.9 Total includes backlog for nonrelated products and services and basic research.©Data include military-type planes shipped to foreign governments.O Courtesy of R. L. Polk & Co.; republication prohibited.§ Excludes railroad-owned private refrigerator cars and private line cars.


INDEX TO CURRENT BUSINESS STATISTICS, Pages S1-S40

SECTIONS

General:Business indicators 1-7Commodity prices 7-9Construction and real estate 9,10Domestic trade 11,12

Labor force, employment, and earnings 13-16Finance 16-21Foreign trade of the United States 21-23Transportation and communications 23,24

Industry:Chemicals and allied products 24,25Electric power and gas 25,26Food and kindred products; tobacco 26-30Leather and products 30

Lumber and products 31Metals and manufactures 31-34Petroleum, coal, and products 34-36Pulp, paper, and paper products 36,37

Rubber and rubber products 37Stone, clay, and glass products 38Textile products 38-40Transportation equipment 40

INDIVIDUAL SERIESAdvertising 11,16Aerospace vehicles 40Agricultural loans 16Air carrier operations 23Aircraft and parts 4,6,7,40Alcohol, denatured and ethyl 25Alcoholic beverages 11,26Aluminum. 33Apparel 1,3,4,8,9,11-15,40Asphalt and tar products 35,36Automobiles, etc 1,3-6,8,9,11,12,19,22,23,40

Balance of international payments 2,3Banking 16,17Barley 27Battery shipments 34Beef and veal 28Beverages. . 4,8,11,22,23.26Blast furnaces, steel works, etc 5-7Bonds, outstanding, issued, prices, sales, yields.... 18-20Brass and bronze 33Brick 38Broker's balances 20Building and construction materials 6, 7,

9,10,31,36,38Building costs 10Building permits., 10Business incorporations (new), failures 7Business sales and inventoriesButter

526

Cattle and calves 28Cement and concrete products 9,10,38Cereal and bakery products 8Chain-store sales, firms with 11 or more stores. , . 12Cheese 26Chemicals 4-6,8,13-15,19,22-25Cigarettes and cigars 30Clay products 9,38Coal 4,8,22,34,35Cocoa 23,29Coffee 23,29Coke 35Communication 2,20,24Confectionery, sales 29Construction:

Contracts 10Costs 10Employment, unemployment, hours, earnings. . 13-15Fixed investment, structures 1Highways and roads 9,10Housing starts 10Materials output indexes 10New construction put in place 9

Consumer credit 17,18Consumer expenditures 1Consumer goods output, index 3,4Consumer price index 8Copper 33Corn...... 27Cost of living (see Consumer price index) 8Cotton, raw and manufactures 7,9,22,38,39Cottonseed cake and meal and oil 30Credit, short- and intermediate-term 17,18Crops 3,7,27,30,38Crude oil and natural gas 4,35Currency in circulation 19

Dairy products 3,7,8,26,27Debits, bank 16Debt, U.S. Government 18Department stores 11,12Deposits, bank 16,17,19Disputes, industrial 16Distilled spirits 26Dividend payments, rates, and yields 2,3,19-21Drug stores, sales 11,12

Earnings, weekly and hourly 15Eating and drinking places 11,12Eggs and poultry 3,7,8,28,29Electric power 4,8,25,26Electrical machinery and equipment 4-7,

9,13-15,19,22,23,34Employment estimates 13-15Employment Service activities 16Expenditures, U.S. Government 18Explosives 25Exports (see also individual commodities) 1,2,21-23Express operations 23

Failures, industrial and commercial 7Farm income, marketings, and prices 2,3,7,8Farm wages 15Fats and oils 8,22,23,29,30Federal Government finance 18Federal Reserve banks, condition of 16Federal Reserve member banks 17Fertilizers 8,25Fire losses 10Fish oils and fish 29Flooring, hardwood 31Flour, wheat 28Food products 1,4-8,11-15,19,22,23,26-30Foreclosures, real estate 10Foreign trade (see also individual commod.) 21-23Foundry equipment 34Freight cars (equipment) 4,40Fruits and vegetables 7,8Fuel oil 35,36Fuels 4,8,22,23, 34-36Furnaces 34Furniture 4,8,11-15

Gas, output, prices, sales, revenues 4,8,26Gasoline 1,35Glass and products 38Glycerin 25Gold 19Grains and products 7,8,22,27,28Grocery stores 11,12Gross national product 1Gross private domestic investment 1Gypsum and products 9,38

Hardware stores 11Heating equipment 9,34Hides and skins 9,30Highways and roads 9,10Hogs 28Home electronic equipment 8Home Loan banks, outstanding advances 10Home mortgages 10Hosiery 40Hotels 24Hours of work per week 14Housefurnishings 1,4,8,11,12Household appliances, radios, and television sets. 4,

8,11,34Housing starts and permits 10

Imports (see also individual commodities) . . . 1, 2, 22, 23Income, personal ............................. 2, 3Income and employment tax receipts ____ ........ 18Industrial production indexes:

By industry ................................ 3, 4By market grouping. . . . .................... 3, 4

Installment credit ......................... 12, 17, 18Instruments and related products .......... 4-6, 13-15nsurance, life ................................ 18, 19interest and money rates ...................... 17

iv en tones, manufacturers* and trade ....... 5, 6, 11, 12iventory -sales ratios ......................... 5

ron and steel .............. 4-7,9, 10, 19,22, 23,31,32

Labor advertising index, strikes, turnoverLabor forceLamb and muttonLardLead

1613282833

Leather and products .................. 4, 9, 13-15, 30Life insurance ........................ ........ 18, 19Linseed oil .................................... 30Livestock ........... . .................... . 3, 7, 8, 28Loans, real estate, agricultural, bank, brokers*

(see also Consumer credit) .......... 10, 16, 17, 18, 20Lubricants ................................... 35, 36Lumber and products ............... 4, 9, 10-15, 19, 31

Machine tools ................................ 34Machinery ................. 4-7, 9, 13-15, 19, 22,23, 34Mail order houses, sales ....................... 11Man-hours, aggregate, and indexes ............. 14Manmade fibers and manufactures .............. 9, 39Manufacturers* sales (or shipments), inventories,

orders ..................................... 5-7Manufacturing employment, unemployment, pro-

duction workers, hours, man-hours, earnings. . . 13-15Manufacturing production indexes .............. 3, 4Margarine ................................... 29Meat animals and meats ............. 3, 7, 8, 22, 23, 28Medical and personal care ..................... 8Metals ....................... 4-7,9,19,22,23,31-33Milk ........................................ 27Mining and minerals ................. 2-4,9, 13-15, 19Monetary statistics ................ , ..... . ---- 19Money supply ................................ 19Mortgage applications, loans, rates ....... 10, 16, 17, 18Motor carriers ............................... 23, 24Motor vehicles ............ 1,4-6,8,9,11,19,22,23,40Motors and generators ........................ 34

National defense expenditures 1,18National income and product 1,2National parks, visits 24Newsprint 23,37New York Stock Exchange, selected data 20,21Nonferrous metals 4,9,19,22,23,33NoninstaUment credit 18

Oats 27Oil burners 34Oils and fats 8,22,23,29,30Orders, new and unfilled, manufactures* 6,7Ordnance 13-15

Paint and paint materials 8,25Paper and products and pulp 4-6,

9,13-15,19,23,36,37Parity ratio 7Passports issued 24Personal consumption expenditures 1Persona] income 2,3Personal outlays 2Petroleum and products 4-6,

8,11-15,19,22,23,35,36Pig iron 31,32Plant and equipment expenditures 2Plastics and resin materials 25Population 13Pork 28Poultry and eggs 3,7,8,28,29Prices (see also individual commodities) 7-9Printing and publishing 4,13-15Private sector employment and earnings 15Profits, corporate 2,19Public utilities 2-4,9,19-21,25,26Pulp and pulpwood 36Purchasing power of the dollar 9

Radiators and convectors 34Radio and television 4,11,34Railroads 2,15,16,20,21,24,40Railways (local) and bus lines 23Rayon and acetate 39Real estate 10,17,18Receipts, U.S. Government 18Recreation 8Refrigerators and home freezers 34Rent (housing) 8Retail trade 5,7,11-15,17Rice 27Roofing and siding, asphalt 36Rubber and products (incl. plastics) 4-6,

9,13-15,23,37

Saving, personal 2Savings deposits 17Securities issued 19,20Security markets 20,21Services 1,8,13Sheep and lambs 28Shoes and other footwear 9,11,12,30Silver 19Soybean cake and meal and oil 30Spindle activity, cotton 39Steel (raw) and steel manufactures 22,23,31,32Steel scrap 31Stock prices, earnings, sales, etc 20,21Stone, clay, glass products 4-6,9,13-15,19,38Stoves and ranges 34Sugar 23,29Sulfur 25Sulfuric acid 24Superphosphate 25

Tea imports 29Telephone and telegraph carriers 24Television and radio 4,11,34Textiles and products.... 4-6,9,13-15,19,22,23,38-40Tin 33Tires and inner tubes 9,11,12,37Tobacco and manufactures 4-7,9,11,13-15,30Tractors 34Trade (retail and wholesale) 5,11,12Transit lines, local. 23Transportation 1,2,8,13,23,24Transportation equipment 4-7,13-15,19,40Travel 23,24Truck trailers 40Trucks (industrial and other) 34,40

Unemployment and insurance 13,16U.S. Government bonds 16,17,20U.S. Government finance 18Utilities 2-4,9,19-21,25,26

Vacuum cleaners 34Variety stores 11,12Vegetable oils 29,30Vegetables and fruits 7,8Veterans* benefits 16

Wages and salaries 2,3,15Washers and dryers 34Water heaters _ 34Wheat and wheat flour 27,28Wholesale price indexes • 8» JWholesale trade 5,7,11,13-15Wood pulp 36Wool and wool manufactures 9,39

Zinc. 33


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