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Appendix BSTATISTICAL TABLES RELATING TO INCOME,
EMPLOYMENT, AND PRODUCTION
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
C O N T E N T S
NATIONAL INCOME OR EXPENDITURE:Page
B-l. Gross domestic product, 1959-91 298B-2. Gross domestic product in 1987 dollars, 1959-91 300B-3. Implicit price deflators for gross domestic product, 1959-91 302B-4. Changes in gross domestic product and personal consumption ex-
penditures, and related implicit price deflators and fixed-weighted price indexes, 1960-91 304
B-5. Selected per capita product and income series in current and1987 dollars, 1959-91 305
B-6. Gross domestic product by major type of product, 1959-91 306B-7. Gross domestic product by major type of product in 1987 dollars,
1959-91 307B-8. Gross domestic product by sector, 1959-91 308B-9. Gross domestic product by sector in 1987 dollars, 1959-91 309B-10. Gross domestic product of nonfmancial corporate business, 1959-
91 310B-ll. Output, costs, and profits of nonfinancial corporate business,
1959-91 311B-12. Personal consumption expenditures, 1959-91 312B-13. Personal consumption expenditures in 1987 dollars, 1959-91 313B-14. Gross and net private domestic investment, 1959-91 314B-15. Gross and net private domestic investment in 1987 dollars, 1959-
91 315B-16. Inventories and final sales of domestic business, 1959-91 316B-17. Inventories and final sales of domestic business in 1987 dollars,
1959-91 .. 317B-18. Foreign transactions in the national income and product ac-
counts, 1959-91 318B-19. Exports and imports of goods and services and receipts and pay-
ments of factor income in 1987 dollars, 1959-91 319B-20. Relation of gross domestic product, gross national product, net
national product, and national income, 1959-91 320B-21. Relation of national income and personal income, 1959-91 321B-22. National income by type of income, 1959-91 322B-23. Sources of personal income, 1959-91 324B-24. Disposition of personal income, 1959-91 326B-25. Total and per capita disposable personal income and personal
consumption expenditures in current and 1987 dollars, 1959-91 327B-26. Gross saving and investment, 1959-91 328B-27. Personal saving, flow of funds accounts, 1946-91 329B-28. Median income (in 1990 dollars) and poverty status of families
and persons, by race, selected years, 1971-90 330
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POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY: Page
B-29. Population by age groups, 1929-90 331B-30. Population and the labor force, 1929-91 332B-31. Civilian employment and unemployment by sex and age, 1947-91 334B-32. Civilian employment by demographic characteristic, 1954-91 335B-33. Unemployment by demographic characteristic, 1954-91 336B-34. Labor force participation rate and employment/population ratio,
1948-91 337B-35. Civilian labor force participation rate by demographic character-
istic, 1954-91 338B-36. Civilian employment/population ratio by demographic character-
istic, 1954-91 339B-37. Unemployment rate, 1948-91 340B-38. Civilian unemployment rate by demographic characteristic,
1948-91. 341B-39. Unemployment by duration and reason, 1947-91 342B-40. Unemployment insurance programs, selected data, 1960-91 343B-41. Employees on nonagricultural payrolls, by major industry, 1946-
91 344B-42. Average weekly hours and hourly and weekly earnings in pri-
vate nonagricultural industries, 1955-91 346B-43. Employment cost index, private industry, 1979-91..... 347B-44. Productivity and related data, business sector, 1959-91 348B-45. Changes in productivity and related data, business sector, 1960-
91 349
PRODUCTION AND BUSINESS ACTIVITY:B-46. Industrial production indexes, major industry divisions, 1947-91.. 350B-47. Industrial production indexes, market groupings, 1947-91 351B-48. Industrial production indexes, selected manufacturers, 1947-91.... 352B-49. Capacity utilization rates, 1948-91 353B-50. New construction activity, 1929-91 354B-51. New housing units started and authorized, 1959-91 356B-52. Business expenditures for new plant and equipment, 1947-92 357B-53. Manufacturing and trade sales and inventories, 1950-91 358B-54. Manufacturers' shipments and inventories, 1950-91 359B-55. Manufacturers' new and unfilled orders, 1950-91 360
PRICES:B-56. Consumer price indexes, major expenditure classes, 1950-91 361B-57. Consumer price indexes, selected expenditure classes, 1950-91 362B-58. Consumer price indexes, commodities, services, and special
groups, 1950-91 364B-59. Changes in special consumer price indexes, 1958-91 365B-60. Changes in consumer price indexes, commodities and services,
1929-91 366B-61. Producer price indexes by stage of processing, 1947-91 367B-62. Producer price indexes by stage of processing, special groups,
1974-91 369B-63. Producer price indexes for major commodity groups, 1950-91 370B-64. Changes in producer price indexes for finished goods, 1955-91 372
294Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE: Page
B-65. Money stock, liquid assets, and debt measures, 1959-91 373B-66. Components of money stock measures and liquid assets, 1959-91.. 374B-67. Aggregate reserves of depository institutions and monetary base,
1959-91 376B-68. Commercial bank loans and securities, 1972-91 377B-69. Bond yields and interest rates, 1929-91 378B-70. Total funds raised in credit markets by nonfinancial sectors,
1982-90 380B-71. Mortgage debt outstanding by type of property and of financing,
1940-91 382B-72. Mortgage debt outstanding by holder, 1940-91 383B-73. Consumer credit outstanding, 1950-91 384
GOVERNMENT FINANCE:B-74. Federal receipts, outlays, surplus or deficit, and debt, selected
fiscal years, 1929-93 , 385B-75. Federal receipts, outlays, and debt, fiscal years 1981-93 386B-76. Relation of Federal Government receipts and expenditures in the
national income and product accounts to the budget, fiscalyears 1989-91 388
B-77. Federal and State and local government receipts and expendi-tures, national income and product accounts, 1959-91 389
B-78. Federal and State and local government receipts and expendi-tures, national income and product accounts, by major type,1959-91 390
B-79. Federal Government receipts and expenditures, national incomeand product accounts, 1975-91 391
B-80. State and local government receipts and expenditures, nationalincome and product accounts, 1959-91 392
B-81. State and local government revenues and expenditures, selectedfiscal years, 1927-90 393
B-82. Interest-bearing public debt securities by kind of obligation,1967-91 394
B-83. Maturity distribution and average length of marketable interest-bearing public debt securities held by private investors, 1967-91 395
B-84. Estimated ownership of public debt securities by private inves-tors, 1976-91 396
CORPORATE PROFITS AND FINANCE:B-85. Corporate profits with inventory valuation and capital consump-
tion adjustments, 1959-91 397B-86. Corporate profits by industry, 1959-91 398B-87. Corporate profits of manufacturing industries, 1959-91 399B-88. Sales, profits, and stockholders' equity, all manufacturing corpo-
rations, 1950-91 400B-89. Relation of profits after taxes to stockholders' equity and to
sales, all manufacturing corporations, 1947-91 401B-90. Sources and uses of funds, nonfarm nonfinancial corporate busi-
ness, 1947-91 402B-91. Common stock prices and yields, 1952-91 403B-92. Business formation and business failures, 1950-91 404
295Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE: Page
B-93. Farm income, 1940-91 405B-94. Farm output and productivity indexes, 1947-91 406B-95. Farm input use, selected inputs, 1947-90 407B-96. Indexes of prices received and prices paid by farmers, 1950-91 408B-97. U.S. exports and imports of agricultural commodities, 1940-91 409B-98. Balance sheet of the farm sector, 1939-91 410
INTERNATIONAL STATISTICS:B-99. International investment position of the United States at year-
end, 1982-90 411B-100. U.S. international transactions, 1946-91 412B-101. U.S. merchandise exports and imports by principal end-use cate-
gory, 1965-91 414B-102. U.S. merchandise exports and imports by area, 1982-91 415B-103. U.S. merchandise exports, imports, and trade balance, 1972-91 416B-104. International reserves, selected years, 1952-91 417B-105. Industrial production and consumer prices, major industrial
countries, 1967-91 418B-106. Civilian unemployment rate, and hourly compensation, major in-
dustrial countries, 1965-91 419B-107. Foreign exchange rates, 1967-91 : 420B-108. Growth rates in real gross national product/gross domestic
product, 1971-91 421
NATIONAL WEALTH:B-109. National wealth, 1945-90 422B-110. National wealth in 1982 dollars, 1945-90 423
296Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Detail in these tables may not add to totals because of rounding. 'Unless otherwise noted, all dollar figures are in current dollars. .Symbols used: , "
^* ' ". * ' ; ' '
,
Data in the^e tables reflect §^fc)iig^ma^ '̂ltoj^iM^ agencies fromJanuary 1991 through January 1992. In particular, tables containing
: data from the national income and product accounts reflect the recentprehensive (beBehanark) revision, ' -' /•'* -, , ' ' - -;com
297Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL INCOME OR EXPENDITURE
TABLE B-l.—Gross domestic product, 1959-91
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959196019611962.196319641965196619671968196919701971197219731974197519761977197819791980.. ..19811982198319841985198619871988198919901991 *1982- IV1983- IV1984: IV1985: IV1986: IV1987: IV1988: 1
||II IIV
1989: 1IIIllIV
1990- 1IIIllIV
1991- 1IIIllIV ".
Grossdomesticproduct
494.2513.4531.8571.6603.1648.0702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.61,585.91,768.41,974.12,232.72,488.62,708.03,030.63,149.63,405.03,777.24,038.74,268.64,539.94,900.45,244.05,513.85,671.83,195.13,547.33,869.14,140.54,336.64,683.04,752.44,857.24,947.35,044.65,139.95,218.55,277.35,340.45,422.45,504.75,570.55,557.55,589.05,652.65,709.25,736.6
Personal consumption expenditures
Total
318.1332.4343.5364.4384.2412.54446481.6509.3559.1603.76465700.3767.8848.1927.7
102491,143.11,271.51,421.21,583.71,748.11,926.22,059.22,257.52,460.32,667.42,850.63,052.23,296.13,517.93,742.63,886.82,128.72,346.82,526.42,739.82,923.13,124.63,199.13,260.53,326.63,398.23,436.53,490.63,551.73,592.83,667.33,706.03,785.23,812.03,827.73,868.53,916.43,934.4
Durablegoods
42.843.541.947.051.856.863568.570.681.086.285397.2
110.7124.1123.01343160.0182.6202.3214.2212.5228.5236.5275.0317.9352.9389.6403.7437.1459.8465.9445.2246.9297.7328.2354.4406.8408.8428.8433.1433.5452.9449.4457.2474.5458.0479.9464.6467.1451.9440.7440.0452.9447.2
Non-durablegoods
148.5153.1157.4163.8169.4179.71919208.5216.9235.0252.22704283.3305.2339.6380.84160451.8490.4541.5613.3682.9744.2772.3817.8873.0919.4952.2
1,011.11,073.81,146.91,217.71,251.0
787.3839.8887.8939.5963.7
1,029.41,041.51,062.01,085.81,105.81,120.01,142.51,155.31,169.81,194.91,200.91,228.41,246.41,246.31,252.91,257.41,247.6
Services
126.8135.9144.1153.6163.1175.918922C4.6221.7243.1265.32908319.8351.9384.5423.94745531.2598.4677.4756.2852.7953.5
1,050.41,164.71,269.41,395.11,508.81,637.41,785.21,911.22,059.02,190.51,094.61,209.31,310.41,446.01,552.61,686.41,728.81,765.41,807.31,839.51,867.11,891.01,921.91,965.01,992.52,040.42,089.62,113.62,140.72,175.62,206.12,239.6
Gross private domestic investment
Total
78.878.777.987.993.4
101.71180130.4128.0139.9155.21503175.5205.6243.1245.82260286.4358.3434.0480.2467.6558.0503.4546.7718.9714.5717.6749.3793.6837.6802.6725.3464.2614.8722.8737.0697.1800.2770.6788.4800.7814.8844.7844.3826.8834.4812.0825.9821.8750.9709.3708.8740.9742.3
Fixed investment
Total
74.675.575.081.887.796.7
1083116.7117.6130.8145.51481167.5195.7225.4231.52317269.6333.5406.1467.5477.1532.5519.3552.2647.8689.9709.0723.0777.4801.6802.7745.6510.5594.6671.8704.4715.9740.9753.8774.6783.6797.5801.6802.0803.5799.4815.3800.2807.7787.4748.4745.8744.5743.4
Nonresidential
Total
46.549.248.652.855.662.474184.485.292.1
102.91067111.7126.1150.0165.61690187.2223.2274.5326.4353.8410.0413.7400.2468.9504.0492.4497.8545.4570.7587.0550.4397.7426.9491.5511.3491.7514.3526.8544.1550.3560.2565.1570.2574.2573.4586.3580.0596.3585.2560.0554.6546.8540.3
Struc-tures
18.119.619.720.821.223.728331.331.533.637.740342.747.255.061.261465.974.693.9
118.4137.5169.1178.8153.1175.6193.4174.0171.3182.0193.1198.7174.5168.9154.6184.1195.4168.4180.0176.6181.4183.1186.8191.1190.0194.9196.5202.4199.5201.7191.2184.0180.0169.0164.8
Pro-ducers'durableequip-ment
28.329.728.932.134.438.745853.053.758.565.266469.178.995.1
104.31076121.2148.7180.6208.1216.4240.9234.9247.1293.3310.6318.4326.5363.4377.6388.3376.0228.8272.3307.3315.9323.3334.3350.2362.6367.3373.4374.0380.2379.3376.8384.0380.5394.7394.0375.9374.7377.8375.6
Resi-dential
28.126.326.429.032.134.334232.332.438.742.641455.869.775.366.062782.5
110.3131.6141.0123.3122.5105.7152.0178.9185.9216.6225.2232.0230.9215.7195.1112.8167.7180.4193.1224.2226.5227.0230.5233.3237.3236.5231.8229.2226.0229.0220.3211.4202.2188.4191.2197.7203.1
Changein
busi-ness
inven-tories
4.23.22.96.15.75.097
13.810.59.19.7238.09.9
17.714.357
16.724.727.912.8
-9.525.4
-15.9-5.571.124.68.6
26.316.236.0
.0-20.2-46.3
20.251.032.6
-18.859.316.813.817.117.343.242.323.335.1
-3.325.614.1
-36.5-39.2-37.1-3.6-1.1
See next page for continuation of table.
298Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-l.—Gross domestic product, 1959-91—Continued
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959196019611962196319641965196619671968196919701971197219731974197519761977....19781979198019811982198319841985198619871988198919901991"1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988:1
IIIllIV
1989:1IIIllIV
1990: 1||IIIIV
1991: 1IIIllIV "...
Net exports of goods andservices l
Netexports
-1.72.43.42.43.35.53.91.91.4
-1.3-1.2
1.2-3.0-8.0
.6-3.113.6
-2.3-23.7-26.1-23.8-14.7-14.7-20.6-51.4
-102.7-115.6-132.5-143.1-108.0-82.9-74.4-27.1-29.5-71.8
-107.1-135.5-133.2-143.2-122.0-105.6-98.5
-106.0-88.9-83.0-82.1-77.5-78.0-60.4-82.5-76.6-36.8-17.2-37.3-17.3
Exports
20.625.326.027.429.433.635.438.941.445.349.357.059.366.291.8
124.3136.3148.9158.8186.1228.9279.2303.0282.6276.7302.4302.1319.2364.0444.2504.9550.4593.3265.6286.2308.7304.7333.9392.4418.5438.8452.4467.0486.1506.2506.2521.3534.6545.9548.7572.6565.9589.8597.0620.4
Imports
22.322.822.725.026.128.131.537.139.946.650.555.862.374.291.2
127.5122.7151.1182.4212.3252.7293.9317.7303.2328.1405.1417.6451.7507.1552.2587.8624.8620.4295.1358.0415.7440.2467.1535.6540.5544.3550.9573.1575.0589.2588.3598.8612.6606.3631.2649.2602.7607.0634.3637.7
Government purchases
Total
99.099.8
107.0116.8122.3128.3136.3155.9175.6191.5201.8212.7224.3241.5257.7288.3321.4341.3368.0403.6448.5507.1561.1607.6652.3700.8772.3833.0881.5918.7971.4
1,042.91,086.9
631.6657.6727.0799.2849.7901.4904.7913.8918.5937.6947.5966.6980.9990.7
1,021.21,833.21,046.01,071.21,088.81,092.51,089.11,077.0
Federal
Total
57.155.358.665.466.467.569.581.392.899.2
100.5100.1100.0106.9108.5117.6129.4135.8147.9162.2179.3209.1240.8266.6292.0310.9344.3367.8384.9387.0401.4424.9445.1281.4289.7324.7356.9373.1392.5386.6386.0383.5392.0392.6401.9407.6403.7417.2423.3424.7434.5451.5452.1444.9431.9
Nation-al
defense
46.445.347.952.151.550.451.062.073.479.178.976.874.177.477.582.689.693.4
100.9108.9121.9142.7167.5193.8214.4233.1258.6276.7292.1295.6300.0313.4323.4205.5222.8242.9268.6278.6295.8296.7294.8294.0296.8293.9298.5305.8301.6309.3312.7311.1320.6332.3328.4322.3310.7
Non-de-
fense
10.810.010.613.314.917.018.519.319.420.021.623.325.929.431.135.039.842.447.053.357.566.473.372.777.577.885.791.192.991.4
101.5111.5121.775.966.981.988.394.596.789.991.289.595.298.7
103.3101.8102.1107.9110.7113.6113.9119.2123.7122.6121.3
Stateandlocal
41.844.548.451.455.860.966.874.682.792.3
101.3112.6124.3134.7149.2170.7192.0205.5220.1241.4269.2298.0320.3341.1360.3389.9428.1465.3496.6531.7570.0618.0641.8350.3367.9402.2442.4476.6509.0518.1527.8535.1545.7554.9564.7573.3587.0604.0609.9621.4636.7637.3640.4644.2645.1
Finalsales ofdomes-
ticproduct
490.0510.1528.9565.5597.5643.0693.0756.0803.8880.2949.8
1,008.41,089.21,197.11,331.91,444.41,591.51,751.71,949.42,204.82,475.92,717.53,005.23,165.53,410.63,706.14,014.14,260.04,513.74,884.25,208.15,513.85,692.03,241.43,527.13,818.14,107.94,355.44,623.74,735.64,843.44,930.25,027.35,096.75,176.25,254.05,305.35,425.75,479.15,556.55,594.05,628.25,689.65,712.85,737.6
Grossdomes-tic pur-chases 2
495.8510.9528.4569.2599.8642.5698.8767.9812.9890.6960.7
1,009.51,100.21,215.01,349.01,461.81,572.31,770.71,997.82,258.82,512.52,722.83,045.33,170.23,456.53,879.94,154.34,401.24,683.05,008.45,326.95,588.15,699.03,224.63,619.13,976.24,276.04,469.84,826.24,874.44,962.75,045.85,150.75,228.85,301.55,359.45,417.95,500.55,565.15,653.05,634.05,625.85,669.85,746.55,753.8
Adden-dum:Gross
nation-al
prod-uct3
497.0516.6535.4575.8607.7653.0708.1774.9819.8895.5965.6
1,017.11,104.91,215.71,362.31,474.31,599.11,785.51,994.62,254.52,520.82,742.13,063.83,179.83,434.43,801.54,053.64,277.74,544.54,908.25,248.25,524.5
3,222.63,578.43,890.24,156.24,340.54,690.54,764.34,862.74,951.65,054.35,144.35,217.75,279.85,350.95,432.75,505.55,576.85,583.25,611.75,660.65,720.1
Percent changefrom preceding
period
Grossdomes-
ticproduct
3.93.67.55.57.48.49.55.89.27.95.38.6
10.011.88.18.7
11.511.613.111.58.8
11.93.98.1
10.96.95.76.47.97.05.12.94.0
11.75.46.44.49.96.19.17.68.17.86.34.64.96.36.24.9-.92.34.64.11.9
Grossdomestic
pur-chases 2
3.03.47.75.47.18.89.95.99.67.95.19.0
10.411.08.47.6
12.612.813.111.28.4
11.84.19.0
12.27.15.96.46.96.44.92.03.8
12.25.67.93.79.64.17.46.98.66.25.74.44.46.24.86.5
-1.3-.63.25.5.5
1 New definition: Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.3 GDP plus net receipts of factor income from rest of the world.Source: Department of Commerce, Bureau of Economic Analysis.
299Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross domestic product in 1987 dollars, 1959-91
[Billions of 1987 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
196519661967 ..19681969
19701971197219731974
19751976197719781979
1980 .1981198219831984
198519861987 .19881989
19901991 P
1982: IV....1983- IV1984: IV1985: IV1986: IV.1987: IV
1988: 1IIIllIV
1989: I||IIIIV
1990- 1 .IIIllIV
1991: IIIIllIV
Grossdomesticproduct
1,931.3
1,973.22,025.62,129.82,218.02,343.3
2,473.52,622.32,690.32,801.02,877.1
2,875.82,965.13,107.13,268.63,248.1
3,221.73,380.83,533.23,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,540.04,718.64,836.9
4,884.94,848.4
3,759.64,012.14,194.24,333.54,427.14,625.5
4,655.34,704.84,734.54,779.7
4,809.84,832.44,845.64,859.7
4,880.84,900.34,903.34,855.1
4,824.04,840.74,862.74,866.3
Personal consumptionexpenditures
Total
1,178.9
1,210.81,238.41,293.31,341.91,417.2
1,497.01,573.81,622.41,707.51,771.2
1,813.51,873.71,978.42,066.72,053.8
2,097.52,207.32,296.62,391.82,448.4
2,447.12,476.92,503.72,619.42,746.1
2,865.82,969.13,052.23,162.43,223.1
3,262.63,256.7
2,539.32,678.22,784.82,895.33,012.53,074.7
3,128.23,147.83,170.63,202.9
3,200.93,208.63,241.13,241.6
3,258.83,258.63,281.23,251.8
3,241.13,252.43,271.23,262.2
Durablegoods
114.4
115.4109.4120.2130.3140.7
156.2166.0167.2184.5190.8
183.7201.4225.2246.6227.2
226.8256.4280.0292.9289.0
262.7264.6262.5297.7338.5
370.1402.0403.7428.7440.8
438.9412.5
272.3319.1347.7369.6415.7404.7
425.1426.9423.8439.2
433.6439.9454.3435.6
452.7438.7440.3424.0
410.8408.9418.3412.1
Non-durablegoods
518.5
526.9537.7553.0563.6588.2
616.7647.6659.0686.0703.2
717.2725.6755.8777.9759.8
767.1801.3819.8844.8862.8
860.5867.9872.2900.3934.6
958.7991.0
1,011.11,035.11,049.3
1,050.81,042.3
880.7915.2942.9968.7
1,000.91,014.6
1,023.51,031.01,039.31,046.8
1,047.11,043.31,051.41,055.3
1,054.41,050.31,053.71,044.7
1,043.91,046.21,046.11,033.0
Services
546.0
568.5591.3620.0648.0688.3
724.1760.2796.2837.0877.2
912.5946.7997.4
1,042.21,066.8
1,103.61,149.51,196.81,254.11,296.5
1,323.91,344.41,368.91,421.41,473.0
1,537.01,576.11,637.41,698.51,732.9
1,773.01,801.9
1,386.21,443.91,494.21,557.11,595.81,655.5
1,679.61,690.01,707.51,716.9
1,720.31,725.41,735.41,750.7
1,751.81,769.61,787.31,783.1
1,786.31,797.21,806.81,817.1
Gross private domestic investment
Total
296.4
290.8289.4321.2343.3371.8
413.0438.0418.6440.1461.3
429.7481.5532.2591.7543.0
437.6520.6600.4664.6669.7
594.4631.1540.5599.5757.5
745.9735.1749.3773.4789.2
744.5672.6
503.5669.5756.4763.1705.9793.8
756.9769.4782.2785.0
803.2797.4776.8779.2
754.9766.0760.3696.6
657.0656.3686.5690.6
Fixed investment
Total
282.8
282.7282.2305.6327.3356.2
387.9401.3391.0416.5436.5
423.8460.7509.6554.0512.0
451.5495.1566.2627.4656.1
602.7606.5558.0595.1689.6
723.8726.5723.0753.4756.6
744.2687.7
548.4640.2708.4732.9725.9733.9
737.7753.3758.6764.1
761.9758.5756.6749.2
758.9743.8746.4727.8
689.8686.8686.5687.9
Nonresidential
Total
165.2
173.3172.1185.0192.3214.0
250.6276.7270.8280.1296.4
292.0292.6311.6357.4356.5
316.8328.7364.3412.9448.8
437.8455.0433.9420.8490.2
521.8500.3497.8530.8542.4
548.8512.7
417.2449.6509.6525.5495.5510.6
517.7531.4535.2538.8
540.0543.6544.7541.3
550.7544.3555.5544.5
519.1514.8510.0506.9
Struc-tures
74.4
80.882.386.186.995.9
111.5119.1116.0117.4123.5
123.3121.2124.8134.9132.3
118.0120.5126.1144.1163.3
170.2182.9181.3160.3182.8
197.4176.6171.3174.0177.4
177.9153.9
173.2162.6189.5198.3170.4177.9
171.6174.4174.1175.7
177.8175.0178.4178.6
182.3178.9180.0170.4
163.3158.9148.4144.8
Pro-ducers'durableequip-ment
90.8
92.589.898.9
105.4118.1
139.1157.6154.8162.7172.9
168.7171.4186.8222.4224.2
198.8208.2238.2268.8285.5
267.6272.0252.6260.5307.4
324.4323.7326.5356.8365.0
370.8358.8
244.0287.0320.1327.2325.0332.7
346.1356.9361.0363.1
362.2368.6366.3362.7
368.4365.4375.5374.0
355.8355.8361.6362.1
Resi-dential
117.6
109.4110.1120.6135.0142.1
137.3124.5120.2136.4140.1
131.8168.1198.0196.6155.6
134.7166.4201.9214.5207.4
164.8151.6124.1174.2199.3
202.0226.2225.2222.7214.2
195.5175.1
131.2190.6198.8207.4230.5223.3
220.0222.0223.5225.3
221.9215.0211.9207.9
208.2199.5190.9183.3
170.7172.0176.5181.0
Changein
busi-ness
inven-tories
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
8.324.6
-17.54.4
67.9
22.18.5
26.319.932.6
.2-15.1
-44.929.347.930.2
-20.159.9
19.216.123.520.9
41.238.920.230.0
-4.022.113.9
-31.2
-32.8-30.4
.12.7
300Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-2.—Gross domestic product in 1987 dollars, 1959-91—Continued
[Billions of 1987 dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
I9601961196219631964
19651966196719681969
19701971197219731974...
19751976197719781979
19801981198219831984
19851986....198719881989
19901991 ".
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988: 1IIIllIV
1989: IIIIllIV
1990: 1III l lIV
1991: 1IIIllIV »
Net exports of goods andservices »
Netexports
-21.8
-7.655
-10.5582.5
-6.4-18.0-23.7-37.5
415
352-45.9-56.5-34.1-4.1
23.1-6.4
-27.8-29.9-10.6
30.722.0
-7.4-56.1
-122.0
-145.3-155.1-143.0-104.0-75.7
-51.3-17.6
-19.0-83.7
-131.4-155.4-156.0-136.0
-113.4-98.1
-101.9-102.7
-81.2-71.9-79.8-70.0
-56.0-52.5-65.7-31.2
-18.6-12.3-31.1-8.3
Exports
73.8
88.489.995.0
101.8115.4
118.1125.7130.0140.2147.8
161.3161.9173.7210.3234.4
232.9243.4246.9270.2293.5
320.5326.1296.7285.9305.7
309.2329.6364.0421.6469.2
505.7539.6
280.4291.5312.8312.0342.9386.1
407.1417.2424.1438.2
451.2469.5470.5485.8
496.2502.1501.6522.5
512.5535.7545.2565.1
Imports
95.6
96.195.3
105.5107.7112.9
124.5143.7153.7177.7189.2
196.4207.8230.2244.4238.4
209.8249.7274.7300.1304.1
289.9304.1304.1342.1427.7
454.6484.7507.1525.7544.9
557.0557.2
299.4375.1444.2467.4498.9522.1
520.5515.2526.1540.9
532.4541.3550.3555.7
552.2554.5567.4553.7
531.1548.0576.3573.4
Government purchases
Total
477.8
479.2503.3525.9538.7551.7
569.9628.5673.0691.0686.1
667.8655.8653.0644.2655.4
663.5659.2664.1677.0689.3
704.2713.2723.6743.8766.9
813.4855.4881.5886.8900.4
929.1936.7
735.9748.1784.3830.5864.8893.0
883.7885.6883.7894.5
886.9898.3907.4908.9
923.0928.1927.5937.9
944.5944.3936.1921.9
Federal
Total
268.2
261.3271.9289.0288.1284.5
285.1325.4356.1357.2344.2
316.9294.2284.4265.3262.6
262.7258.2263.0268.6271.7
284.8295.8306.0320.8331.0
355.2373.0384.9377.3375.0
380.9384.8
316.0322.2341.7363.7377.5391.6
379.7377.2373.7378.4
369.1376.2380.9373.9
379.3383.3378.4382.6
391.7392.7384.5370.2
Nation-al
de-fense
"209"6191.3185.8
184.9179.9181.6182.1185.1
194.2206.4221.4234.2245.8
265.6280.6292.1287.0280.7
281.3281.4
229.4242.9254.3272.1282.2295.0
290.8287.1284.6285.7
276.1279.9286.7279.9
281.5283.8278.0282.0
289.4287.0280.4268.9
Non-de-
fense
74"874.176.8
77.878.381.486.586.6
90.689.484.786.685.1
89.592.492.990.294.4
99.6103.4
86.679.387.491.695.396.6
88.990.189.192.7
93.096.394.294.0
97.799.5
100.4100.6
102.3105.7104.1101.3
Stateandlocal
209.6
217.9231.4236.9250.6267.3
284.8303.1317.0333.7341.9
350.9361.6368.6378.9392.9
400.8401.1401.0408.4417.6
419.4417.4417.6423.0436.0
458.2482.4496.6509.6525.3
548.2551.9
419.9425.9442.6466.7487.3501.4
503.9508.3510.0516.1
517.8522.1526.4534.9
543.7544.8549.1555.3
552.7551.7551.6551.7
Finalsales ofdomes-
ticproduct
1,917.8
1,965.02,018.42,114.22,202.02,327.6
2,448.32,585.62,662.72,777.42,852.3
2,869.92,944.33,084.53,230.93,217.2
3,235.63,355.33,499.03,666.33,783.2
3,784.63,818.63,777.83,902.24,080.6
4,257.64,395.94,513.74,698.64,804.3
4,884.74,863.6
3,804.53,982.84,146.24,303.34,447.24,565.6
4,636.24,688.74,710.94,758.7
4,768.54,793.54,825.44,829.7
4,884.84,878.14,889.44,886.3
4,856.84,871.24,862.64,863.7
Grossdomes-tic pur-chases 2
1,953.1
1,980.82,031.12,140.32,223.82,340.7
2,479.92,640.32,714.02,838.52,918.6
2,911.03,011.03,163.63,302.73,252.2
3,198.63,387.13,561.13,733.33,807.4
3,745.73,821.23,767.73,962.84,270.5
4,425.14,559.64,683.04,822.64,912.6
4,936.24,866.0
3,778.64,095.84,325.54,488.94,583.14,761.5
4,768.74,802.84,836.44,882.4
4,891.04,904.34,925.44,929.7
4,936.84,952.74,969.14,886.3
4,842.64,853.14,893.84,874.6
Adden-dum:Gross
nation-al
prod-uct3
1,942.1
1,985.12,039.02,145.02,234.22,360.8
2,491.92,639.42,707.82,819.82,895.0
2,893.52,985.23,128.83,298.63,282.4
3,247.63,412.23,568.93,739.03,845.3
3,823.43,884.43,796.13,939.64,174.5
4,295.04,413.54,544.64,726.34,840.7
4,894.6
3,791.74,046.64,216.44,349.54,430.84,633.0
4,667.14,710.34,738.74,789.0
4,813.94,831.64,847.94,869.3
4,890.24,901.24,909.24,877.7
4,843.74,847.84,872.0
Percent changefrom preceding
period
Grossdomes-
ticprod-uct
2.22.75.14.15.6
5.66.02.64.12.7
-.03.14.85.2-.6
-.84.94.54.82.5
1.8-2.2
3.96.2
3.22.93.13.92.5
1.0
.67.02.72.31.35.9
2.64.32.53.9
2.51.91.11.2
1.71.6.2
-3.9
-2.51.41.8.3
Grossdomestic
pur-chases 2
1.42.55.43.95.3
5.96.52.84.62.8
-.33.45.14.4
-1.5
-1.65.95.14.82.0
-1.62.0
-1.45.27.8
3.63.02.73.01.9
.5-1.4
.78.73.02.7
.55.4
.62.92.83.9
.71.71.7.3
.61.31.3
-6.5
-3.5.9
3.4-1.6
1 New definition: Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GDP) less exports of goods and services plus imports of goods and services.3 GOP plus net receipts of factor income from rest of the world.Source: Department of Commerce, Bureau of Economic Analysis.
301Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross domestic product, 1959-91
[Index numbers, 1987 = 100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1959
I96019611962 .. .19631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991 "
1982: IV1983: IV1984- IV1985- IV1986: IV1987: IV .
1988: 1I I . .Il lIV.
1989- 1IIIl lIV
1990: 1||II IIV
1991- 1I IIllIV P
Grossdomesticproduct
25.6
26.026.326.827.227.7
28.429.430.331.733.3
35.137.038.841.344.9
49.252.355.960.365.5
71.778.983.887.291.0
94.496.9
100.0103.9108.4
112.9117.0
85.088.492.295.598.0
101.2
102.1103.2104.5105.5
106.9108.0108.9109.9
111.1112.3113.6114.5
115.9116.8117.4117.9
Personal consumptionexpenditures
Total
27.0
27.527.728.228.629.1
29.730.631.432.734.1
35.637.438.841.045.2
48.951.855.459.464.7
71.477.882.286.289.6
93.196.0
100.0104.2109.1
114.7119.3
83.887.690.794.697.0
101.6
102.3103.6104.9106.1
107.4108.8109.6110.8
112.5113.7115.4117.2
118.1118.9119.7120.6
Durablegoods
37.4
37.738.339.139.740.4
40.641.342.343.945.2
46.448.349.250.354.1
59.262.465.269.174.1
80.986.490.192.493.9
95.496.9
100.0102.0104.3
106.1107.9
90.693.394.495.997.8
101.0
100.9101.5102.3103.1
103.6103.9104.4105.2
106.0105.9106.1106.6
107.3107.6108.3108.5
Non-durablegoods
28.6
29.129.329.630.130.5
31.132.232.934.335.9
37.739.040.443.750.1
54.256.459.864.171.1
79.485.788.690.893.4
95.996.1
100.0103.7109.3
115.9120.0
89.491.894.197.096.3
101.5
101.8103.0104.5105.6
107.0109.5109.9110.8
113.3114.3116.6119.3
119.4119.8120.2120.8
Services
23.2
23.924.424.825.225.6
26.126.927.829.030.2
31.933.835.336.939.7
43.046.250.054.058.3
64.470.976.781.986.2
90.895.7
100.0105.1110.3
116.1121.6
79.083.787.792.997.3
101.9
102.9104.5105.8107.1
108.5109.6110.7112.2
113.7115.3116.9118.5
119.8121.1122.1123.3
Fixed investment
Total
26.4
26.726.626.826.827.1
27.929.130.131.433.3
34.936.438.440.745.2
51.354.558.964.771.2
79.287.893.192.893.9
95.397.6
100.0103.2106.0
107.9108.4
93.192.994.896.198.6
101.0
102.2102.8103.3104.4
105.2105.7106.2106.7
107.4107.6108.2108.2
108.5108.6108.5108.1
Nonresidential
Total
28.1
28.428.228.628.929.2
29.630.531.532.934.7
36.538.240.542.046.4
53.356.961.366.572.7
80.890.195.395.195.6
96.698.4
100.0102.8105.2
107.0107.4
95.395.096.497.399.2
100.7
101.8102.4102.8104.0
104.6104.9105.4105.9
106.5106.5107.4107.5
107.9107.7107.2106.6
Struc-tures
24.4
24.224.024.124.424.7
25.426.327.228.630.5
32.735.237.840.746.3
52.054.759.265.272.5
80.892.598.695.596.1
98.098.5
100.0104.6108.8
111.7113.4
97.595.197.298.598.8
101.2
102.9104.0105.1106.3
107.5108.6109.3110.1
111.0111.5112.0112.2
112.7113.2113.9113.8
Pro-ducers'
dur-able
equip-ment
31.2
32.132.232.432.632.8
32.933.634.736.037.7
39.440.342.242.746.5
54.158.262.467.272.9
80.988.593.094.895.4
95.798.4
100.0101.9103.5
104.7104.8
93.894.996.096.599.5
100.5
101.2101.6101.7102.8
103.3103.2103.6103.9
104.2104.1105.1105.3
105.7105.3104.5103.7
Residen-tial
23.9
24.024.024.023.824.1
24.925.926.928.430.4
31.433.235.238.342.4
46.649.654.661.368.0
74.880.985.287.389.7
92.095.8
100.0104.2107.8
110.4111.5
86.088.090.793.197.3
101.5
103.21G3.8104.4105.3
106.6107.8108.2108.7
110.0110.4110.7110.3
110.4111.2112.0112.2
302Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-3.—Implicit price deflators for gross domestic product, 1959-91—Continued
[Index numbers, 1987=100, except as noted; quarterly data seasonally adjusted]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976 .197719781979
1980 .1981198219831984
19851986198719881989
19901991"
1982- IV1983: IV1984: IV1985- IV1986: IV1987: IV
1988- 1IIIllIV
1989: 1||HIIV
1990-1IIIll .IV
1991: 1||HIIV".
Exports andimports of goods
and services l
Exports
28.0
28.629.028.928.929.1
30.031.031.832.333.3
35.336.638.143.653.0
58.561.264.368.978.0
87.192.995.296.898.9
97.796.9
100.0105.3107.6
108.9109.9
94.798.298.797.797.4
101.6
102.8105.2106.7106.6
107.7107.8107.6107.3
107.7108.7109.4109.6
110.4110.1109.5109.8
Imports
23.4
23.823.823.724.324.9
25.325.826.026.226.7
28.430.032.237.353.5
58.560.566.470.783.1
101.4104.599.795.994.7
91.993.2
100.0105.1107.9
112.2111.3
98.595.493.694.293.6
102.6
103.9105.7104.7106.0
108.0108.8106.9107.7
110.9109.3111.2117.2
113.5110.8110.1111.2
Government purchases
Total
20.7
20.821.322.222.723.3
23.924.826.127.729.4
31.834.237.040.044.0
48.451.855.459.665.1
72.078.784.087.791.4
95.097.4
100.0103.6107.9
112.2116.0
85.887.992.796.298.3
100.9
102.4103.2103.9104.8
106.8107.6108.1109.0
110.6111.3112.8114.2
115.3115.7116.4116.8
Federal
Total
21.3
21.221.522.623.123.7
24.425.026.1-27.829.2
31.634.037.640.944.8
49.352.656.260.466.0
73.481.487.191.093.9
96.998.6
100.0102.6107.0
111.6115.7
89.089.995.098.198.8
100.2
101.8102.3102.6103.6
106.4106.8107.0108.0
110.0110.4112.2113.6
115.3115.1115.7116.7
Nationaldefense
36.940.544.5
48.551.955.659.865.8
73.581.187.691.694.8
97.398.6
100.0103.0106.9
111.4114.9
89.691.795.598.798.7
100.3
102.0102.7103.3103.9
106.5106.6106.7107.8
109.9110.2111.9113.7
114.8114.4114.9115.5
Non-defense
39.341.945.5
51.254.157.761.766.4
73.382.185.989.591.3
95.798.6
100.0101.4107.5
112.0117.8
87.784.393.796.499.2
100.1
101.2101.2100.4102.6
106.1107.4108.1108.6
110.4111.2113.1113.2
116.5117.1117.9119.6
Stateandlocal
19.9
20.420.921.722.322.8
23.524.626.127.729.6
32.134.436.539.443.5
47.951.254.959.164.5
71.176.781.785.289.4
93.496.4
100.0104.3108.5
112.7116.3
83.486.490.994.897.8
101.5
102.8103.8104.9105.7
107.2108.2108.9109.7
111.1111.9113.2114.7
115.3116.1116.8116.9
Finalsales ofdomes-
ticproduct
25.5
26.026.226.727.127.6
28.329.230.231.733.3
35.137.038.841.244.9
49.252.255.760.165.4
71.878.783.887.490.8
94.396.9
100.0103.9108.4
112.9117.0
85.288.692.195.597.9
101.3
102.1103.3104.7105.6
106.9108.0108.9109.8
111.1112.3113.6114.5
115.9116.8117.5118.0
Grossdomestic
pur-chases 2
25.4
25.826.026.627.027.5
28.229.130.031.432.9
34.736.538.440.844.9
49.252.356.160.566.0
72.779.784.187.290.9
93.996.5
100.0103.9108.4
113.2117.1
85.388.491.995.397.5
101.4
102.2103.3104.3105.5
106.9108.1108.8109.9
111.4112.4113.8115.3
116.2116.8117.4118.0
Percentchange
frompreced-
ingperiod,
GDPimplicitpricedefla-tor3
1.61.21.91.51.8
2.53.53.14.65.0
5.45.44.96.48.7
9.66.36.97.98.6
9.510.06.24.14.4
3.72.63.23.94.3
4.23.6
3.44.22.63.93.33.6
3.64.45.13.9
5.44.23.43.7
4.44.44.73.2
5.03.12.11.7
1 New definition: Excludes receipts and payments of factor income from or to rest of the world.2 Gross domestic product (GOP) less exports of goods and services pfus imports of goods and services.3 Quarterly changes are at annual rates.Note.—Separate deflators are not calculated for gross private domestic investment, change in business inventories, and net exports
of goods and services.Source: Department of Commerce, Bureau of Economic Analysis.
303Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-4.—Changes in gross domestic product and personal consumption expenditures, and relatedimplicit price deflators and fixed-weighted price indexes, 1960-91
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year or quarter
I96019611962...19631964
19651966196719681969
19701971197219731974
1975...197619771978 '.1979
19801981198219831984
198519861987 :19881989
1990...1991 p
1982: IV1983- IV1984: IV1985- IV1986- IV1987: IV1988: I . ..
||IIIIV
1989:1III I IIV
1990:1||I I IIV
1991:1.||III .IV P
Gross domestic product
Currentdollars
3.93.67.55.57.4
8.49.55.89.27.9
5.38.6
10.011.88.1
8.711.511.613.111.5
8.811.93.98.1
10.9
-6.95.76.47.97.0
5.12.9
4.011.75.46.44.49.96.19.17.68.17.86.34.64.96.36.24.9-.92.34.64.11.9
Con-stant
(1987)dollars
2.22.75.14.15.6
5.66.02.64.12.7
03.14.85.2-.6
-.84.94.54.82.5
-.51.82 23.96.2
3.22.93.13.92.5
1.0-.7
.67.02.72.31.35.92.64.32.53.92.51.91.11.21.71.6
.2-3.9
251.41.8.3
Implicitprice
deflator
1.61.21.91.51.8
2.53.53.14.65.0
5.45.44.96.48.7
9.66.36.97.98.6
9.510.06.24.14.4
3.72.63.23.94.3
4.23.6
3.44.22.63.93.33.63.64.45.13.95.44.23.43.74.44.44.73.25.03.12.11.7
Fixed-weight-ed price
index(1987
weights)
Personal consumption expenditures
Currentdollars
4.53.36.15.47.4
7.88.35.89.88.0
7.18.39.6
10.59.4
10.511.511.211.811.4
10.410.26.99.69.0
8.46.97.18.06.7
6.43.9
11.210.58.15.45.84.49.97.98.48.94.66.47.24.78.64.38.82.91.74.35.01.9
Con-stant
(1987)dollars
2.72.34.43.85.6
5.65.13.15.23.7
2.43.35.64.5-.6
2.15.24.04.12.4
-.11.21.14.64.8
4.43.62.83.61.9
1.2-.2
6.06.14.5
.32.5-.17.12.52.94.1-.21.04.1.1
2.1-.02.835
-1.31.42.3
-1.1
Implicitprice
deflator
1.9.7
1.81.41.7
2.13.02.64.14.3
4.45.13.75.7
10.2
8.25.96.97.28.9
10.49.05.74.93.9
3.93.14.24.24.7
5.14.0
4.94.23.14.82.94.52.85.25.14.75.05.33.04.56.34.36.16.43.12.72.73.0
Fixed-weight-ed price
index(1987
weights)
Note.—Data are not yet available for fixed-weighted price indexes (1987 weights).Source: Department of Commerce, Bureau of Economic Analysis.
304Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-5.—Selected per capita product and income series in current and 1987 dollars, 1959-91
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year orquarter
1959
I9601961196219631964
1965196619671968 .1969
197019711972 .19731974
1975197619771978.1979
19801981198219831984
19851986198719881989
19901991"
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988: 1IIIllIV
1989: 1IIIllIV
1990: 1IIIllIV
1991: 1IIIllIV >.
Current dollars
Grossdomes-
ticprod-uct
2,791
2,8402,8943,0633,1863,376
3,6163,9154,0974,4304,733
4,9285,2835,7506,3686,819
7,3438,1098,96110,02911,055
11,89213,17713,56414,53115,978
16,93317,73518,69419,99421,196
22,05622,448
13,70915,08516,31017,29617,95319,213
19,45819,84620,16120,506
20,85221,12521,30421,500
21,78122,05522,25122,135
22,20622,40622,56722,611
Person-al
income
2,209
2,2642,3212,4302,5162,661
2,8453,0613,2533,5363,816
4,0524,3024,6715,1845,637
6,0536,6327,2698,1219,032
9,94811,02111,58912,21613,345
14,17014,91715,65516,63017,705
18,72019,131
11,78612,61313,66814,44015,10216,076
16,24516,49916,72017,053
17,46017,61617,72618,014
18,40018,64918,85118,977
18,94419,11019,18419,286
Dispos-able
person-al
income
1,958
1,9942,0482,1372,2102,369
2,5272,6992,8613,0773,274
3,5213,7794,0424,5214,893
5,3295,7966,3167,0427,787
8,5769,4559,98910,64211,673
12,33913,01013,54514,47715,313
16,23616,693
10,18911,03311,92512,56513,12113,907
14,15414,33214,57014,850
15,13115,19715,33715,586
15,96316,15416,34416,479
16,49216,67816,75216,849
Personal consumptionexpenditures
Total
1,796
1,8391,8691,9532,0302,149
2,2872,4502,5622,7852,978
3,1523,3723,6584,0024,337
4,7455,2415,7726,3847,035
7,6778,3758,8689,63410,408
11,18411,84312,56813,44814,219
14,97115,383
9,1349,98010,64911,44512,10112,819
13,09913,32213,55613,814
13,94214,13014,33814,464
14,73114,84815,12015,183
15,20815,33415,48115,508
Dura-ble
goods
242
240228252273296
327348355404425
416468528585575
622734829909952
933994
1,0181,1731,345
1,4801,6191,6621,7831,858
1,8641,762
1,0591,2661,3831,4801,6841,677
1,7561,7701,7671,841
1,8231,8511,9161,844
1,9281,8621,8661,800
1,7511,7441,7901,763
Non-durablegoods
838
847857878895936
9871,0601,0911,1711,244
1,3181,3641,4541,6021,780
1,9262,0722,2262,4322,725
2,9993,2363,3263,4903,693
3,8553,9564,1634,3814,636
4,8714,951
3,3783,5723,7423,9243,9904,223
4,2644,3394,4254,495
4,5444,6254,6644,710
4,8004,8124,9074,964
4,9524,9664,9704,918
Serv-ices
716
752784823861917
9741,0411,1161,2111,308
1,4181,5401,6761,8141,982
2,1972,4362,7173,0433,359
3,7454,1464,5234,9715,370
5,8496,2696,7427,2847,725
8,2368,670
4,6965,1435,5246,0406,4286,919
7,0787,2137,3657,477
7,5757,6557,7597,911
8,0048,1758,3478,418
8,5058,6248,7208,828
Constant (1987) dollars
Grossdomes-
ticprod-uct
10,907
10,91611,02411,41411,71712,209
12,72713,33813,53613,95314,191
14,02214,27614,80115,42215,185
14,91715,50216,03916,63516,867
16,58416,71016,19416,67217,549
17,94418,29918,69419,25219,550
19,54019,189
16,13217,06217,68018,10218,32818,977
19,06119,22319,29419,429
19,51319,56219,56119,565
19,60619,63319,58619,337
19,16619,18819,22119,181
Dispos-able
person-
income
7,256
7,2647,3827,5837,7188,140
8,5088,8229,1149,3999,606
9,87510,11110,41411,01310,832
10,90611,19211,40611,85112,039
12,00512,15612,14612,34913,029
13,25813,55213,54513,89014,030
14,15413,987
12,15412,59113,14513,27813,52213,685
13,84013,83613,88613,996
14,09313,96913,99614,063
14,18514,20414,16814,058
13,96514,02213,99213,970
Personal consumptionexpenditures
Total
6,658
6,6986,7406,9317,0897,384
7,7038,0058,1638,5068,737
8,8429,0229,4259,7529,602
9,71110,12110,42510,74410,876
10,74610,77010,78211,17911,617
12,01512,33612,56812,90313,027
13,05112,889
10,89511,39011,73912,09512,47212,615
12,80812,86212,92113,020
12,98612,98913,08413,051
13,09013,05613,10712,952
12,87712,89212,93012,858
Dura-ble
goods
646
638595•644688733
803844841919941
896970
1,0731,1641,062
1,0501,1761,2711,3161,284
1,1541,1501,1311,2701,432
1,5521,6701,6621,7491,782
1,7561,633
1,1691,3571,4661,5441,7211,660
1,7401,7441,7271,785
1,7591,7811,8341,754
1,8181,7581,7591,689
1,6321,6211,6531,624
Non-durablegoods
2,928
2,9152,9262,9642,9773,065
3,1733,2943,3163,4173,469
3,4973,4943,6013,6703,552
3,5523,6743,7223,7953,833
3,7793,7743,7563,8423,953
4,0194,1184,1634,2234,241
4,2034,125
3,7793,8923,9754,0464,1444,162
4,1904,2134,2354,255
4,2484,2234,2454,249
4,2354,2084,2094,161
4,1484,1474,1354,071
Serv-ices
3,083
3,1453,2183,3233,4233,586
3,7263,8674,0064,1694,327
4,4494,5584,7514,9174,988
5,1105,2715,4335,6335,760
5,8145,8455,8956,0666,231
6,4446,5486,7426,9307,004
7,0927,131
5,9486,1416,2986,5056,6076,792
6,8776,9056,9586,979
6,9796,9847,0067,048
7,0377,0907,1397,102
7,0977,1247,1427,162
Popula-tion(thou-
sands) »
177,073
180,760183,742186,590189,300191,927
194,347196,599198,752200,745202,736
205,089207,692209,924211,939213,898
215,981218,086220,289222,629225,106
227,715229,989232,201234,326236,393
238,510240,691242,860245,093247,405
249,992252,666
233,060235,146237,231239,387241,550243,745
244,235244,744245,387246,004
246,491247,032247,711248,387
248,950249,594250,349251,074
251,689252,281252,990253,705
1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data areaverages of quarterly data. Quarterly data are averages for the period.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
305Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-6.—Gross domestic product by major type of product, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
1960 .1961196219631964
19651966196719681969
1970...1971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991 p
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988:1
III l lIV
1989:1IIIllIV
1990:1III l lIV
1991:1IIIllIV *....
Grossdomesticproduct
494.2
513.4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.6
1,585.91,768.41,974.12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,244.0
5,513.85,671.8
3,195.13,547.33,869.14,140.54,336.64,683.04,752.44,857.24,947.35,044.65,139.95,218.55,277.35,340.45,422.45,504.75,570.55,557.55,589.05,652.65,709.25,736.6
Finalsales ofdomes-
ticproduct
490.0
510.1528.9565.5597.5643.0
693.0756.0803.8880.2949.8
1,008.41,089.21,197.11,331.91,444.4
1,591.51,751.71,949.42,204.82,475.9
2,717.53,005.23,165.53,410.63,706.1
4,014.14,260.04,513.74,884.25,208.1
5,513.85,692.0
3,241.43,527.13,818.14,107.94,355.44,623.74,735.64,843.44,930.25,027.35,096.75,176.25,254.05,305.35,425.75,479.15,556.55,594.05,628.25,689.65,712.85,737.6
Inven-tory
change
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
-5.716.724.727.912.8
-9.525.4
-15.9-5.571.1
24.68.6
26.316.236.0
.0-20.2
-46.320.251.032.6
-18.859.316.813.817.117.343.242.323.335.1
-3.325.614.1
-36.5-39.2-37.1-3.6-1.1
Goods l
Total
Total
249.3
257.3260.9281.5293.0313.1
342.7379.7395.4428.7456.5
467.0493.3537.4616.6662.8
715.1798.8880.4989.1
1,100.2
1,176.21,324.61,315.01,407.31,591.9
1,652.61,705.31,794.51,942.02,098.1
2,167.62,192.8
1,302.21,483.01,617.51,673.71,714.51,865.41,875.71,924.51,960.72,007.02,058.92,102.92,114.12,116.42,140.22,176.52,195.62,158.02,169.42,186.12,210.52,205.0
Finalsales
245.1
254.0258.0275.4287.4308.1
333.0365.9384.9419.5446.8
464.7485.2527.5598.9648.5
720.8782.0855.7961.2
1,087.5
1,185.71,299.21,330.91,412.81,520.8
1,628.01,696.71,768.21,925.72,062.1
2,167.62,213.0
1,348.51,462.81,566.51,641.11,733.31,806.11,859.01,910.81,943.61,989.72,015.72,060.62,090.82,081.42,143.52,150.92,181.62,194.52,208.62,223.22,214.12,206.1
Inven-tory
change
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
-5.716.724.727.912.8
-9.525.4159
-5.571.1
24.68.6
26.316.236.0
.0-20.2
-46.320.251.032.6
-18.859.316.813.817.117.343.242.323.335.1
-3.325.614.1
-36.5-39.2-37.1-3.6-1.1
Durable goods
Finalsales
91.1
93.893.1
103.4110.0119.6
132.4147.9154.5169.1180.1
182.1189.4209.7242.0257.1
288.8323.6368.3416.9474.5
502.1544.2541.6579.4647.0
704.8730.2753.5835.6892.9
934.6929.0
550.6620.5676.3705.7751.5769.3809.0833.7838.8861.0866.9894.0916.5894.2941.0931.1939.3927.2916.4939.5929.4930.8
Inven-tory
change
3.1
1.6-.13.42.74.0
6.710.25.54.76.4
~2.B7.2
15.011.2
7010.39.7
20.39.6
-2.66.2
-16.05.5
44.9
8.61.6
21.624.326.9
-7.0-24.5
-41.125.538.510.9
-11.937.111.014.336.635.339.217.712.637.9
-14.41.4
14.5-29.4-43.5-33.5-9.2
-12.0
Nondurable goods
Finalsales
153.9
160.2164.8172.0177.4188.5
200.6218.1230.4250.4266.7
282.6295.8317.8356.9391.4
432.0458.4487.4544.3613.0
683.6755.0789.3833.4873.8
923.2966.5
1,014.71,090.11,169.2
1,233.01,284.0
798.0842.3890.2935.4981.8
1,036.91,049.91,077.01,104.81,128.71,148.91,166.61,174.31,187.11,202.51,219.81,242.31,267.31,292.11,283.71,284.71,275.3
Inven-tory
change
1.1
1.63.02.73.01.0
3.03.65.04.43.3
2.35.22.72.83.1
1.36.4
15.07.63.1
-6.819.2
.1-11.0
26.2
16.07.14.7
-8.19.1
6.94.3
-5.2-5.312.521.7
-7.022.25.7-.5
-19.5-18.0
4.024.610.7
-2.911.024.3-.4
-7.14.3
-3.65.6
10.9
Serv-ices1
180.7
194.2207.7222.3237.5256.2
275.4302.3330.4362.8395.4
433.8476.6523.6571.0631.3
706.9782.2870.4975.5
1,079.6
1,215.41,357.41,494.21,636.31,770.7
1,939.02,097.32,267.22,460.92,634.7
2,834.03,012.7
1,553.31,686.11,824.72,008.92,154.12,327.62,391.02,436.72,487.52,528.52,568.82,608.12,651.82,709.92,753.02,812.62,864.82,905.52,951.72,999.03,035.13,065.0
Struc-tures
61.7
61.162.867.071.977.6
83.886.988.598.9
107.1
108.6127.2145.9161.9164.5
163.8187.5223.3268.1308.8
316.4348.6340.4361.5414.7
447.1466.0478.2497.5511.3
512.2466.4
339.5378.2426.9457.9468.1490.1485.7495.9499.2509.1512.1507.5511.5514.0529.2515.6510.1494.0467.9467.4463.5466.6
Autooutput
19.4
21.317.822.425.125.9
31.130.227.835.034.7
28.538.941.445.938.8
40.355.164.267.966.2
59.268.365.388.3
104.2
115.8120.4118.9129.1133.9
130.3117.9
63.2101.9110.4115.1122.5120.9116.4133.4130.6136.1135.3133.9136.2130.1121.8133.2147.6118.5109.8115.5125.2121.0
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
Source: Department of Commerce, Bureau of Economic Analysis.
306Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-7.—Gross domestic product by major type of product in 1987 dollars, 1959-91
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969 ....
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991"
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988:1IIIllIV
1989:1IIIllIV
1990:1II... .IllIV
1991:1IIIllIV *
Grossdomesticproduct
1,931.3
1,973.22,025.62,129.82,218.02,343.3
2,473.52,622.32,690.32,801.02,877.1
2,875.82,965.13,107.13,268.63,248.1
3,221.73,380.83,533.23,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,540.04,718.64,836.9
4,884.94,848.4
3,759.64,012.14,194.24,333.54,427.14,625.5
4,655.34,704.84,734.54,779.7
4,809.84,832.44,845.64,859.7
4,880.84,900.34,903.34,855.1
4,824.04,840.74,862.74,866.3
Finalsales ofdomes-
ticproduct
1,917.8
1,965.02,018.42,114.22,202.02,327.6
2,448.32,585.62,662.72,777.42,852.3
2,869.92,944.33,084.53,230.93,217.2
3,235.63,355.33,499.03,666.33,783.2
3,784.63,818.63,777.83,902.24,080.6
4,257.64,395.94,513.74,698.64,804.3
4,884.74,863.6
3,804.53,982.84,146.24,303.34,447.24,565.6
4,636.24,688.74,710.94,758.7
4,768.54,793.54,825.44,829.7
4,884.84,878.14,889.44,886.3
4,856.84,871.24,862.64,863.7
Inven-tory
change
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
-8.324.6
-17.54.4
67.9
22.18.5
26.319.932.6
-is!i-44.9
29.347.930.2
-20.159.9
19.216.123.520.9
41.238.920.230.0
-4.022.113.9
-31.2
-32.8-30.4
2J
Goods *
Total
Total
825.2
835.3840.9889.6914.9967.6
1,033.01,113.31,129.41,168.91,193.9
1,173.01,187.81,251.01,349.81,328.2
1,291.81,372.71,436.91,507.31,537.1
1,509.51,547.41,468.71,531.71,667.7
1,695.01,740.11,794.51,892.51,962.0
1,958.01,929.2
1,447.71,597.81,680.91,708.11,741.81,850.8
1,858.21,887.41,898.61,926.0
1,953.81,971.61,966.61,956.1
1,961.11,973.81,968.51,928.6
1,917.01,922.01,940.51,937.2
Finalsales
811.6
827.1833.7874.0898.9952.0
1,007.91,076.61,101.71,145.31,169.1
1,167.11,167.01,228.41,312.11,297.3
1,305.71,347.21,402.61,470.11,523.5
1,517.71,522.91,486.21,527.31,599.8
1,672.91,731.61,768.21,872.61,929.4
1,957.81,944.3
1,492.61,568.51,633.01,677.91,761.81,790.9
1,839.01,871.31,875.01,905.0
1,912.51,932.81,946.41,926.1
1,965.11,951.61,954.61,959.8
1,949.81,952.41,940.41,934.5
Inven-tory
change
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
-8.324.6
-17.54.4
67.9
22.18.5
26.319.932.6
.2-15.1
-44.929.347.930.2
-20.159.9
19.216.123.520.9
41.238.920.230.0
-4.022.113.9
-31.2
-32.8-30.4
.12.7
Durable goods
Finalsales
273.8
277.8273.5296.5310.4334.3
364.1399.4413.7430.4438.4
428.0424.9458.4528.0524.6
521.6540.6583.6623.7654.1
626.4619.4578.9601.5655.1
703.4731.5753.5833.1868.2
892.9875.9
580.9639.4677.6703.1750.4769.4
811.3835.3832.7852.9
851.6873.4886.8860.9
902.3891.8892.3884.8
866.4883.3873.9879.9
Inven-tory
change
8.6
4.6-.38.67.5
11.3
18.327.114.512.815.7_ g8i9
16.231.219.6
-11.517.015.628.711.7
-4.36.3
-16.06.3
45.7
9.31.9
21.623.325.2
-6.7-22.2
-41.926.739.711.9
-11.936.9
10.614.135.033.5
37.516.511.235.6
-13.61.2
13.1-27.3
-39.4-30.5-8.4
-10.4
Nondurable goods
Finalsales
537.8
549.3560.2577.5588.5617.6
643.8677.2688.0714.9730.7
739.1742.1770.0784.1772.7
784.1806.6819.0846.4869.3
891.4903.4907.3925.8944.7
969.51,000.11,014.71,039.51,061.3
1,065.01,068.4
911.6929.1955.3974.9
1,011.41,021.5
1,027.71,036.01,042.41,052.2
1,060.91,059.41,059.61,065.2
1,062.81,059.81,062.31,075.0
1,083.41,069.11,066.51,054.6
Inven-tory
change
5.0
3.57.57.08.64.4
6.99.6
13.110.99.1
6.911.96.46.5
11.3
-2.58.5
18.78.51.9
-4.018.3
-1.5-1.822.3
12.96.74.7
-3.47.4
6.97.0
-3.02.68.3
18.3-8.223.0
8.62.0
-11.5-12.5
3.722.49.1
-5.6
9.720.9
.8-3.9
6.6
SA13.0
Serv-ices'
846.2
879.7918.6958.5
1,002.31,055.3
1,105.01,174.51,231.71,282.01,328.7
1,364.01,405.21,454.11,508.31,553.9
1,602.21,649.11,701.21,770.61,821.7
1,864.31,895.71,922.81,976.82,033.1
2,115.32,185.02,267.32,349.72,402.7
2,464.82,504.5
1,942.11,998.32,058.12,148.82,208.22,290.9
2,326.22,340.22,359.92,372.4
2,377.92,391.52,408.42,433.2
2,440.12,461.22,476.32,481.8
2,487.62,502.72,511.82,516.0
Struc-tures
259.9
258.2266.1281.7300.8320.4
335.4334.5329.3350.1354.5
338.9372.1401.9410.4366.1
327.7359.0395.2425.6438.0
402.5400.0368.8398.1447.7
469.4479.3478.2476.4472.1
462.0414.8
369.8416.0455.1476.5477.2483.8
470.9477.2476.0481.3
478.1469.3470.6470.5
479.6465.3458.5444.6
419.4416.1410.4413.2
Autooutput
62.6
66.956.366.572.172.8
86.683.772.586.482.9
65.485.389.998.779.0
74.896.8
106.0104.294.8
79.186.879.2
101.7115.8
125.0124.4118.9127.3127.1
121.1105.9
75.3113.7122.4122.4124.1120.3
116.9132.1125.6134.6
131.5126.2128.1122.4
114.3123.7135.9110.7
99.3104.5112.3107.6
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
Source: Department of Commerce, Bureau of Economic Analysis.
307Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-8.—Gross domestic product by sector, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
196019611962....19631964
19651966196719681969
1970.197119721973....1974
19751976197719781979
19801981198219831984
19851986198719881989
19901991 "
1982: IV1983: IV.1984: IV1985: IV1986: IV1987: IV
1988: I||I I IIV
1989:1||II IIV
1990:1I I . .I l lIV
1991:1..III l lIV P
Grossdomesticproduct
494.2
513.4531.8571.6603.1648.0
702.7769.8814.3889.3959.5
1,010.71,097.21,207.01,349.61,458.6
1,585.91,768.41,974.12,232.72,488.6
2,708.03,030.63,149.63,405.03,777.2
4,038.74,268.64,539.94,900.45,244.0
5,513.85,671.8
3,195.13,547.33,869.14,140.54,336.64,683.0
4,752.44,857.24,947.35,044.6
5,139.95,218.55,277.35,340.4
5,422.45,504.75,570.55,557.5
5,589.05,652.65,709.25,736.6
Business '
Total l
436.9
451.4465.7500.5527.1565.8
614.1670.1703.5765.4822.5
858.7931.2
1,025.31,151.51,242.7
1,346.11,507.41,691.11,921.12,147.9
2,328.92,611.72,692.12,914.83,251.1
3,473.53,665.73,890.84,201.04,490.7
4,699.44,802.9
2,724.03,046.63,330.33.561.23,718.34,016.6
4,070.64,164.04,242.24.327.3
4,404.64,471.74,518.34,568.0
4,630.64,696.24,748.74,722.3
4,734.74,786.84,835.04,855.0
Nonf arm l
419.8
434.7447.9481.4508.7547.2
592.9644.4680.5742.8799.9
832.5900.0991.7
1,102.21,193.9
1,291.41,450.61,633.01,858.72,069.7
2,259.22,530.92,634.42,855.53,191.6
3,420.33,601.53,849.54,161.84,411.3
4,605.64,702.7
2,674.12,986.93,283.23,501.53,656.03,970.9
4,034.04,124.94,196.44.291.9
4,348.24,393.54.436.24,467.6
4,538.34,608.94,634.84,640.4
4,640.14,687.24,730.14,753.5
Farm
18.9
19.820.120.220.419.3
21.922.922.222.725.2
26.228.132.649.847.4
48.846.447.254.764.5
56.169.965.149.268.5
67.162.966.067.682.1
85.780.5
60.045.867.565.764.370.6
70.967.271.660.8
82.583.579.682.6
87.889.685.779.8
76.683.182.979.5
Statis-tical
discrep-ancy
18
-3.12 2
-1.0-2.0
7
72.8
.8-.1
-2.6
.03.11.1
-.51.4
6.010.410.97.6
13.8
13.610.974
10.290
1391.2
-24.8-28.4
2 7
8.119.6
10.113.8
-20.55.9
-2.0-24.9
-34.4-28.1-25.8-25.4
-26.0522.5
17.9
4.4-2.428.22.1
18.016.522.022.0
House-holdsand
institu-tions
12.4
13.914.515.616.717.9
19.321.323.426.129.5
32.435.639.043.047.2
52.057.162.471.078.9
89.3100.5111.6121.3132.0
141.7153.3170.5187.6205.0
225.1246.4
115.5125.1135.6145.6157.8177.6
180.8185.3190.1194.3
198.6202.8207.1211.7
216.1222.2228.9233.3
237.5243.7249.9254.4
General government2
Total
44.9
48.151.655.559.364.4
69.378.487.497.8
107.5
119.5130.4142.6155.1168.8
187.7203.9220.6240.7261.9
289.8318.4345.8368.9394.1
423.6449.6478.7511.7548.3
589.2622.6
355.6375.6403.2433.6460.5488.8
501.1507.8515.0523.0
536.7544.0551.9560.6
575.7586.4592.9601.9
616.8622.0624.3627.2
Federal
21.7
22.623.725.226.528.5
30.034.337.941.944.9
48.551.154.957.261.1
66.671.075.681.887.1
96.3107.7117.3125.0132.2
140.3143.7151.4159.8169.2
179.4188.8
121.1126.2134.1142.4144.9153.2
158.5159.4160.2161.3
168.1168.7169.4170.4
177.5180.1179.1181.0
189.4188.7188.4188.8
Stateandlocal
23.1
25.527.930.232.935.9
39.344.149.555.962.6
71.179.387.797.9
107.6
121.1132.9145.0158.9174.8
193.5210.7228.5243.9261.9
283.2305.9327.3351.9379.1
409.8433.7
234.5249.4269.2291.2315.6335.6
342.6348.5354.9361.7
368.6375.3382.5390.2
398.2406.2413.8420.9
427.4433.2435.9438.3
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
308Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-9.—Gross domestic product by sector in 1987 dollars, 1959-91
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
197519761977 !!19781979
19801981198219831984
19851986198719881989
19901991 p.. .
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988- 1IIIllIV
1989:1||IIIIV
1990-1IIIllIV
1991:1II...IllIV
Grossdomesticproduct
1,931.3
1,973.22,025.62,129.82,218.02,343.3
2,473.52,622.32,690.32,801.02,877.1
2,875.82,965.13,107.13,268.63,248.1
3,221.73,380.83,533.23,703.53,796.8
3,776.33,843.13,760.33,906.64,148.5
4,279.84,404.54,540.04,718.64,836.9
4,884.94,848.4
3,759.64,012.14,194.24,333.54,427.14,625.5
4,655.34,704.84,734.54,779.7
4,809.84,832.44,845.64,859.7
4,880.84,900.34,903.34,855.1
4,824.04,840.74,862.74,866.3
Business 1
Total »
1,584.7
1,611.91,652.61,742.51,821.21,933.1
2,048.22,168.72,213.22,307.12,370.3
2,370.32,456.62,594.82,749.72,719.6
2,684.62,840.12,987.93,144.23,226.0
3,193.43,253.63,167.33,308.23,541.7
3,658.13,768.33,890.84,050.64,150.4
4,180.44,134.1
3,166.33,411.53,583.03,706.13,786.73,969.9
3,994.74,039.74,063.64,104.2
4,129.94,148.04,157.04,166.6
4,183.34,196.74,196.44,145.1
4,111.44,126.44,148.64,150.1
Nonf arm 1
1,546.0
1,576.71,613.51,699.81,781.01,889.4
2,004.62,115.22,164.02,262.12,330.8
2,320.82,397.72,541.32,702.02,666.0
2,619.62,768.12,914.63,083.83,155.0
3,123.43,179.23,115.83,243.13,496.4
3,608.63,702.83,849.64,014.84,085.9
4,101.94,044.0
3,116.93,349.03,548.93,646.83,724.43,925.5
3,956.84,001.24,026.84,074.5
4,088.44,084.04,087.94,083.2
4,109.44,126.94,099.94,071.2
4,024.64,040.14,055.64,055.9
Farm
45.2
46.446.946.347.146.0
46.144.546.545.146.8
49.550.550.748.650.7
53.152.553.848.250.4
51.060.860.253.755.1
64.264.366.063.267.2
71.473.2
61.147.056.165.564.469.0
71.765.861.653.8
65.968.966.767.1
69.972.071.772.0
71.172.174.175.5
Statis-tical
discrep-ancy
65
112-7.8
36-6.9
24
-2.59.12.6
1-7.3
.08.32.8
-1.03.0
11.919.519.412.220.6
19.013.6
-8.711.5
-9.8
-14.71.3
-24.8-27.4-2.7
7.216.9
-11.715.5
-22.0-6.2-2.1
-24.6
338-27.2-24.7
24 1
-24.44 82.3
16.3
4.0-2.124.9
1.9
15.714.318.918.8
House-holdsand
institu-tions
80.1
86.587.591.193.696.5
100.4104.7108.3111.8115.5
114.1116.7120.0123.2124.3
128.0128.6129.8135.1138.3
142.6145.6148.9151.0154.9
159.9166.3170.5180.6189.7
195.7202.2
149.6151.7156.8162.3166.9173.2
176.2179.0182.4184.7
187.2189.3190.6191.8
192.8194.8197.2197.9
198.8201.1203.1205.7
General government 2
Total
266.5
274.8285.6296.2303.2313.7
324.8348.9368.9382.1391.3
391.4391.8392.2395.7404.1
409.1412.0415.6424.2432.5
440.3443.9444.2447.4451.9
461.8469.9478.7487.4496.8
508.8512.1
443.8448.9454.4465.1473.5482.3
484.4486.1488.4490.7
492.7495.1498.1501.3
504.7508.7509.6512.1
513.9513.2511.0510.5
Federal
130.5
132.1135.3141.6140.9141.7
142.3155.4168.1170.7171.2
161.6152.4143.7138.0137.9
137.1137.0137.0138.4137.5
139.2140.9142.4144.8146.4
148.6149.0151.4153.5154.1
155.7155.2
143.2145.2147.1148.7149.8152.8
153.3153.2153.6154.0
153.8153.8154.2154.5
155.0156.4155.3156.2
157.0155.5154.4153.8
Stateandlocal
136.0
142.7150.3154.7162.3172.0
182.5193.5200.8211.4220.1
229.8239.5248.6257.7266.2
272.0275.0278.6285.8295.0
301.1303.0301.8302.6305.4
313.2320.8327.3333.9342.7
353.1356.9
300.6303.7307.3316.5323.7329.5
331.2332.8334.8336.7
338.9341.2343.8346.7
349.7352.3354.4356.0
356.9357.7356.6356.6
1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.
309Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-10.—Gross domestic product of nonfinancial corporate business, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969.. ..
19701971197219731974
19751976197719781979
1980....1981198219831984
19851986198719881989
19901991 "
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988: 1IIIllIV
1989: 1IIIllIV
1990: 1IIIllIV
1991: 1IIIllIV P
Grossdomes-
ticproduct
ofnon-
financialcorpo-ratebusi-ness
267.5
278.1285.5311.7331.7358.1
393.5431.0453.5500.5543.2
561.3606.2673.2754.5814.8
881.1994.4
1,124.31,279.21,423.6
1,546.81,749.11,803.51,937.12,167.3
2,295.52,391.32,544.62,762.12,910.8
3,008.93,052.3
1,807.12,038.12,230.02,341.32,428.42,625.9
2,685.32,740.92,782.22,840.1
2,870.32,901.12,928.72,943.3
2,974.73,025.63,021.23,014.2
3,011.83,043.93,070.1
Con-sump-tionof
fixedcap-ital
24.2
25.226.026.928.129.5
31.534.337.541.445.3
49.754.661.066.277.5
93.31038116.2132.3153.0
174.8207.0229.4242.1248.1
258.0271.4281.4297.5316.2
327.3343.3
238.8261.5258.9263.4275.8286.1
291.3295.4298.7304.5
308.6311.7320.1324.4
322.5324.9328.9333.1
339.6342.5343.83471
Net domestic product
Total
243.2
252.8259.6284.8303.7328.6
362.0396.7415.9459.1497.9
511.6551.6612.3688.3737.2
787.8890.6
1,008.11,146.91,270.6
1,372.11,542.11,574.11,695.01,919.1
2,037.52,119.92,263.22,464.62,594.7
2,681.62,709.0
1,568.31,776.61,971.12,077.92,152.72,339.8
2,393.92,445.52,483.52,535.6
2,561.72,589.52,608.62,618.8
2,652.22,700.72,692.42,681.1
2,672.22,701.42,726.3
Indi-rectbusi-ness
taxes l
26.0
28.329.532.034,036.6
39.240.443.249.854.7
58.864.469.176.381.5
87.294.9
103.9113.6121.9
137.8165.8166.9182.6202.5
216.4230.0237.1254.3268.8
285.5307.7
169.9190.4208.7220.3232.7242.2
247.8251.8256.7260.9
262.6267.3272.4272.8
279.8281.1288.0293.2
301.3303.0312.23144
Domestic income
Total
217.2
224.6230.1252.8269.7292.0
322.8356.2372.8409.3443.3
452.8487.3543.2612.0655.7
700.6795.7904.2
1,033.31,148.7
1,234.31,376.31,407.21,512.31,716.6
1,821.01,889.92,026.12,210.32,325.9
2,396.12,401.3
1,398.41,586.21,762.51,857.61,920.02,097.6
2,146.12,193.72,226.82,274.7
2,299.12,322.22,336.22,346.1
2,372.42,419.72,404.32,387.9
2,370.92,398.52,414.1
Com-pensa-tion ofemploy-
ees
171.5
181.2185.3200.1211.1226.7
246.5274.0292.3323.2358.8
378.7402.0447.1505.9556.8
580.3656.7741.6850.9965.5
1,055.41,167.41,213.21,275.71,414.4
1,509.01,587.81,676.11,814.41,922.9
2,023.32,052.6
1,217.41,332.21,455.21,546.11,618.01,731.6
1,758.11,798.71,832.91,867.8
1,896.71,910.21,928.91,955.7
1,982.02,021.42,046.02,043.8
2,028.02,046.12,063.520728
Corporate profits with inventory valuation and capitalconsumption adjustments
Total
42.6
40.040.848.253.860.0
70.374.971.876.071.3
57.167.277.083.670.6
91.5111.5132.0146.1138.1
120.7136.9111.5159.9214.3
221.4203.8244.2274.4261.0
224.3203.3
101.5175.2211.4221.4198.6256.8
273.3275.7270.0278.5
267.6269.9261.9244.5
244.7249.7209.4193.3
194.4206.4205.5
Profits
Profitsbefore
tax
43.6
40.340.145.049.856.0
66.271.467.574.070.8
58.167.178.698.6
109.2
109.9137.3158.6183.5195.5
181.6181.0132.9155.9189.0
165.5149.1212.0256.6251.5
232.5202.4
116.5168.1169.0168.4168.5224.8
243.3254.3257.5271.4
270.5254.8241.2239.5
237.1236.9239.1216.9
194.4202.4211.7
Profitstax
liability
20.7
19.219.520.622.824.0
27.229.527.833.633.3
27.229.933.840.242.2
41.553.059.967.169.6
67.063.946.359.473.7
69.975.693.5
101.799.2
96.183.0
40.664.462.671.186.599.6
95.9101.1102.0107.9
108.0100.794.893.4
98.298.199.189.0
79.983.687.2
Profits after tax
Total
22.9
21.120.724.327.032.1
39.041.939.740.437.5
31.037.144.858.467.0
68.484.498.7
116.4125.9
114.6117.186.796.4
115.4
95.673.5
118.5154.9152.3
136.4119.4
75.9103.7106.497.282.0
125.1
147.4153.2155.5163.5
162.5154.1146.5146.0
138.9138.8140.0127.9
114.5118.9124.5
Divi-dends
10.0
10.610.611.412.613.7
15.616.817.519.119.1
18.518.520.121.121.7
24.827.832.037.239.3
45.553.456.466.569.5
74.576.377.982.0
104.4
112.2116.5
59.067.468.774.775.284.0
70.979.992.884.3
108.4103.0104.7101.4
111.6107.7109.5119.9
114.1115.3117.3119.3
Undis-tributedprofits
12.9
10.610.113.014.418.4
23.425.122.221.318.4
12.518.724.737.345.2
43.656.666.879.186.7
69.163.730.229.945.9
21.1-2.840.672.947.9
24.22.9
16.936.337.722.56.8
41.2
76.573.362.779.2
54.151.141.844.6
27.231.130.58.0
.43.67.2
Inven-toryvalu-ation
adjust-ment
-0.3
—.2
!o.1
-.5
-1.2-2.1-1.6-3.7-5.9
-6.6-4.6-6.6200
-39.5
-11.0-14.9-16.6-25.0
41.6
43.0-25.7-9.9-8.5-4.1
.29.7
14.5-27.3-17.5
-14.23.8
-8.6-7.6
3.5-3.8
-10.7-17.8
-18.8-26.1-32.6-31.7
-37.6-15.7-3.3
-13.5
-6.63.8
-32.6-21.2
6.79.9
-4.83.3
Capitalcon-
sump-tion
adjust-ment
-0.7
-.2
3.23.94.5
5.35.65.85.66.3
5.54.75.05.0
.9
-7.4-10.9-10.0-12.3-15.9
-17.8-18.4-11.5
12.529.4
55.644.946.745.027.0
5.9-2.9
-6.414.738.956.940.849.8
48.847.545.138.8
34.730.824.018.6
14.29.02.9
-2.4
-6.6-5.9-1.4
2.3
Netinter-est
3.1
3.54.04.54.85.3
6.17.48.8
10.113.2
17.118.119.222.528.3
28.727.530.636.345.1
58.271.982.576.787.9
90.798.3
105.8121.6142.0
148.5145.4
79.678.995.890.0
103.5109.2
114.7119.3123.9128.4
134.8142.1145.4145.9
145.7148.5149.0150.9
148.4145.9145.1142.3
1 Indirect business tax and nontax liability plus business transfer payments less subsidies.Source: Department of Commerce, Bureau of Economic Analysis.
310Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-ll.—Output, costs, and profits of nonfinancial corporate business, 1959-91
[Quarterly data at seasonally adjusted annual rates]
Year or quarter
1959I96019611962196319641965196619671968196919701971.197219731974197519761977197819791980198119821983 .. .19841985198619871988198919901991 *1982: IV1983: IV1984- IV1985: IV1986: IV1987: IV
1988:1....IIIIIIV
1989- 1IIIllIV
1990:1||IIIIV
1991:1II .HI ;..;
Gross domesticproduct of
nonfinancialcorporatebusiness
(billions ofdollars)
Currentdollars
267.5278.1285.5311.7331.7358.1393.5431.0453.5500.5543.2561.3606.2673.2754.5814.8881.1994.4
1,124.31,279.21,423.61,546.81,749.11,803.51,937.12,167.32,295.52,391.32,544.62,762.12,910.83,008.93,052.31,807.12,038.12,230.02,341.32,428.42,625.9
2,685.32,740.92,782.22,840.1
2,870.32,901.12,928.72,943.3
2,974.73,025.63,021.23,014.2
3,011.83,043.93.070.1
1987dollars
928.7955.5978.2
1,047.51,104.61,179.11,262.11,335.91,367.61,444.51,492.41,473.21,525.51,629.31,706.91,669.91,625.31,748.21,866.11,966.81,995.51,981.42,035.82,002.12,113.32,285.02,366.32,444.32,544.62,682.22,715.32,717.42,690.52,000.52,205.22,330.32,399.52,469.02,602.4
2,648.62,677.52,685.62,717.1
2,714.92,712.72,718.52,715.3
2,720.02,741.62,710.42,697.6
2,668.12,682.12,699.0
Current-dollar cost and profit per unit of output (dollars) 1
Totalcostand
profit2
0.288.291.292.298.300.304.312.323.332.347.364.381.397.413.442.488.542.569.603.650.713.781.859.901.917.949.970.978
1.0001.0301.0721.1071.134.903.924.957976
.9841.009
1.0141.0241.0361.045
1.0571.0691.0771.084
1.0941.1041.1151.117
1.1291.1351.138
Con-sump-tionof
fixedcap-ital
0.026.026.027.026.025.025.025.026.027.029.030.034.036.037.039.046.057.059.062.067.077.088.102.115.115.109.109.111.111.111.116.120.128.119.119.111.110.112.110
.110
.110
.111
.112
.114
.115
.118
.119
.119
.119
.121
.123
.127
.128
.127
Indi-rectbusi-ness
taxes 3
0.028.030.030.031.031.031.031.030.032.034.037.040.042.042.045.049.054.054.056.058.061.070.081.083.086.089.091.094.093.095.099.105.114.085.086.090.092.094.093
.094
.094
.096
.096
.097
.099
.100
.100
.103
.103
.106
.109
.113
.113
.116
Com-pen-
sationof
employ-ees
0.185.190.189.191.191.192.195.205.214.224.240.257.264.274.296.333.357.376.397.433.484.533.573.606.604.619.638.650.659.676.708.745.763.609.604.624.644.655.665
.664
.672
.682
.687
.699
.704
.710
.720
.729
.737
.755
.758
.760
.763
.765
Corporate profits withinventory valuation and
capital consumptionadjustments
Total
0.046.042.042.046.049.051.056.056.052.053.048.039.044.047.049.042.056.064.071.074.069.061.067.056.076.094.094.083.096.102.096.083.076.051.079.091.092.080.099
.103
.103
.101
.102
.099
.099
.096
.090
.090
.091
.077072
.073
.077
.076
Profitstax
liability
0.022.020.020.020.021.020.022.022.020.023.022.018.020.021.024.025.026.0300321034.035.034.031.023.028.032.030.031.037.038.037.035.031.020.029.027.030.035.038
.036
.038
.038
.040
.040
.037
.035
.034
.036
.036
.037033
.030
.031
.032
Profitsaftertax*
0.024.022.022.026.028.031.034.034.032.029.025.020.024.027.025.017.031.033.039.040.034.027.036.033.048.062.064.052.059.064.060.047.045.030.050.064.063.045.060
.067
.065
.063
.063
.059
.062
.061
.056
.054
.055
.041
.039
.043
.046
.044
Netinterest
0.003.004.004.004.004.005.005.006.006.007.009.012.012.012.013.017.018.016.016.018.023.029.035.041.036.038.038.040.042.045.052.055.054.040.036.041.038.042.042
.043
.045
.046
.047
.050
.052
.053
.054
.054
.054
.055
.056
.056
.054
.054
Outputper hour
of allemploy-
ees(1987
dollars)
15.44215.65716.16716.66117.19017.84118.06118.14518.35618.85618.74218.75919.46719.76219.74119.22619.72920.32420.74520.69320.21420.27620.56020.82721.59721.90522.14422.73723.04723.47223.05923.062
21.10321.90522.05022.34022.89123.268
23.51823.51223.41123.423
23.159.23.03923.00722.967
22.97323.18122.95223.110
23.18823.35523.456
Compen-sation
per hourof all
employ-ees
(dollars)
2.8512.9683.0633.1833.2843.4303.5273.7213.9234.2194.5064.8255.1335.4255.8556.4167.0537.6448.2448.9529.780
10.80011.79012.62013.03713.55914.12114.77015.18115.78216.33017.171
12.84213.23313.77014.39515.00115.483
15.51715.70015.88216.005
16.18016.22316.32516.542
16.74017.09217.32517.509
17.62517.81817.933
1 Output is measured by gross domestic product of nonfinancial corporate business in 1987 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted twoplaces to the left.
3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).
311Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-12.—Personal consumption expenditures, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
19591960196119621963196419651966196719681969197019711972197319741975.1976197719781979198019811982 .198319841985198619871988198919901991 P1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988- 1
IIIllIV
1989:1IIIIIIV
1990:1IIIllIV
1991:1IIIllIV ".
Personalcon-
sumptionexpendi-tures
318.1332.4343.5364.4384.2412.5444.6481.6509.3559.1603.7646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.71,748.11,926.22,059.22,257.52,460.32,667.42,850.63,052.23,296.13,517.93,742.63,886.82,128.72,346.82,526.42,739.82,923.13,124.63,199.13,260.53,326.63,398.23,436.53,490.63,551.73,592.83,667.33,706.03,785.23,812.03,827.73,868.53,916.43,934.4
Durable goods
Total »
42.843.541.947.051.856.863.568.570.681.086.285.397.2110.7124.1123.0134.3160.0182.6202.3214.2212.5228.5236.5275.0317.9352.9389.6403.7437.1459.8465.9445.2246.9297.7328.2354.4406.8408.8428.8433.1433.5452.9449.4457.2474.5458.0479.9464.6467.1451.9440.7440.0452.9447.2
Motorvehi-clesandparts
18.919.717.821.524.426.029.930.330.036.138.435.544.551.156.149.554.871.383.592.291.584.091.697.7120.6144.6167.4184.9183.5197.8205.6203.7183.8105.1134.8149.3162.9188.2186.3198.2196.4193.3203.4201.4204.3218.1198.7213.9203.6204.7192.5180.7179.3188.4186.6
Furni-tureand
house-holdequip-ment
18.118.018.319.320.723.225.128.230.032.934.735.737.842.447.951.554.560.267.174.082.386.091.392.5104.4115.3123.4135.5144.0156.7168.1173.2171.995.6109.7118.7128.1140.6145.9150.8155.7158.0162.5165.3167.5169.2170.5176.1173.4173.1170.4171.1172.8173.9169.8
Nondurable goods
Total »
148.5153.1157.4163.8169.4179.7191.9208.5216.9235.0252.2270.4283.3305.2339.6380.8416.0451.8490.4541.5613.3682.9744.2772.3817.8873.0919.4952.2
1,011.11,073.81,146.91,217.71,251.0787.3839.8887.8939.5963.7
1,029.41,041.51,062.01,085.81,105.81,120.01,142.51,155.31,169.81,194.91,200.91,228.41,246.41,246.31,252.91,257.41,247.6
Food
80.782.684.887.189.594.6101.0109.0112.3121.6130.5142.1147.5158.5176.1198.1218.5236.0255.9280.6313.0341.8367.3386.0406.2430.2451.1476.8500.7533.6563.3595.8618.7394.9413.9436.8460.7486.7507.4515.8528.0541.1549.5556.6560.3565.3571.0585.2592.3601.1604.8616.3620.5620.4617.7
Cloth-
andshoes
26.427.027.629.029.832.434.137.439.243.246.547.851.756.462.566.070.876.684.194.3101.2107.3117.2120.5130.8142.5152.2163.2174.5186.4200.5208.7210.9122.7136.7145.7156.2165.8177.6180.1183.2188.1194.4195.1199.7202.7204.7208.5208.3211.0206.8208.2212.8214.6207.9
Gaso-lineandoil
11.312.012.012.613.013.614.816.017.118.620.521.923.224.428.136.139.743.046.950.166.286.797.994.193.394.596.979.784.786.995.5106.8102.993.094994.997.673.087.885.286.387.688.589.097.997.197.9100.497.3106.4123.2105.0102.0101.7102.9
Fueloilandcoal
4.03.83.83.84.04.14.44.74.84.74.64.44.65.16.37.88.410.111.111.514.415.415.814.513.814.214.112.012.012.112.012.511.614.014.113.814.311.312.212.312.112.111.711.111.811.713.411.911.713.313.112.211.411.711.1
Services
Total l
126.8135.9
' 144.1153.6163.1175.9189.2204.6221.7243.1265.3290.8319.8351.9384.5423.9474.5531.2598.4677.4756.2852.7953.5
1,050.41,164.71,269.41,395.11,508.81,637.41,785.21.911.22,059.02,190.51,094.61,209.31,310.41,446.01,552.61,686.41,728.81,765.41,807.31,839.51,867.11,891.01,921.91,965.01,992.52,040.42,089.62,113.62,140.72,175.62,206.12,239.6
Hous-ing2
45.048.251.254.758.061.465.469.574.179.786.894.0102.7112.1122.7134.1147.0161.5179.5201.7226.6255.2287.1311.1334.6362.3392.5421.8452.5484.2514.3547.1574.6320.2344.6373.8404.6432.7466.6473.5479.5487.8496.0502.2508.8518.2527.9534.1541.5553.6559.3565.7571.7577.0583.8
Householdoperation
Total *
18.720.321.222.423.625.026.528.230.232.335.137.841.045.349.855.563.772.481.991.2100.0113.0126.0141.4153.6165.5176.2181.1187.8199.5208.4212.7224.8145.8159.3168.8180.7182.5189.7194.9196.8202.4203.8206.0204.8207.2215.5205.2213.4215.8216.5218.6225.4226.5228.8
Elec-tricityandgas
7.68.38.89.49.910.410.911.512.213.014.015.216.618.420.023.528.532.537.642.146.856.363.472.680.784.688.787.188.493.497.697.2102.574.984.885.990.186.888.692.291.794.595.396.494.796.1103.191.798.399.199.699.8103.7102.4104.0
Trans-porta-tion
10.511.211.712.212.713.414.515.917.318.920.923.727.129.831.233.335.741.349.253.659.465.169.471.678.989.199.0105.8116.6128.5138.0147.6155.973.682.992.5101.5109.0121.3122.7127.5130.9132.7135.7136.1138.6141.5144.1146.2148.5151.7152.2153.9157.4160.2
Medi-calcare
16.317.418.620.722.425.727.730.533.739.044.450.156.563.571.280.193.0106.2122.4139.7157.8181.3213.6240.5265.7290.6319.3346.4384.7427.7472.2523.1576.8250.9274.8299.9333.0358.4398.5409.9421.4435.1444.4457.4466.4475.7489.3501.8515.8531.3543.4555.9570.0583.5597.7
1 Includes other items not shown separately.2 Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.
312Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-13.—Personal consumption expenditures in 1987 dollars, 1959-91
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961 . .196219631964
196519661967...19681969
19701971197219731974
1975.1976197719781979
198019811982..19831984
19851986198719881989 .
19901991 '.
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988- 1IIIllIV
1989:1IIIllIV
1990:1IIIllIV
1991:1IIIllIV '
Personalcon-
sumptionexpendi-tures
1,178.9
1,210.81,238.41,293.31,341.91,417.2
1,497.01,573.81,622.41,707.51,771.2
1,813.51,873.71,978.42,066.72,053.8
2,097.52,207.32,296.62,391.82,448.4
2,447.12,476.92,503.72,619.42,746.1
2,865.82,969.13,052.23,162.43,223.1
3,262.63,256.7
2,539.32,678.22,784.82,895.33,012.53,074.7
3,128.23,147.83,170.63,202.9
3,200.93,208.63,241.13,241.6
3,258.83,258.63,281.23,251.8
3,241.13,252.43,271.23,262.2
Durable goods
Total1
114.4
115.4109.4120.2130.3140.7
156.2166.0167.2184.5190.8
183.7201.4225.2246.6227.2
226.8256.4280.0292.9289.0
262.7264.6262.5297.7338.5
370.1402.0403.7428.7440.8
438.9412.5
272.3319.1347.7369.6415.7404.7
425.1426.9423.8439.2
433.6439.9454.3435.6
452.7438.7440.3424.0
410.8408.9418.3412.1
Motorvehi-clesandparts
59.7
61.354.962.268.471.2
81.281.880.391.895.1
85.6100.8114.3123.4102.2
102.9124.6137.3141.5130.5
111.4113.5115.6138.1160.3
180.2193.3183.5194.8196.2
191.4167.6
123.7151.6164.3173.9193.6183.6
197.1195.0189.6197.7
193.6195.0208.4187.8
200.7192.0192.9179.8
166.7164.2170.9168.5
Furni-tureand
house-holdequip-ment
38.2
37.738.140.443.148.3
52.157.659.562.964.3
64.466.873.681.581.9
79.184.291.496.6101.3
98.597.794.2104.3115.3
123.8136.3144.0155.4166.1
170.6170.5
96.4109.3118.7128.6141.4145.9
150.5154.3156.3160.3
163.5166.4166.9167.7
173.1170.9170.5168.0
168.9171.1172.5169.3
Nondurable goods
Total *
518.5
526.9537.7553.0563.6588.2
616.7647.6659.0686.0703.2
717.2725.6755.8777.9759.8
767.1801.3819.8844.8862.8
860.5867.9872.2900.3934.6
958.7991.0
1,011.11,035.11,049.3
1,050.81,042.3
880.7915.2942.9968.7
1,000.91,014.6
1,023.51,031.01,039.31,046.8
1,047.11,043.31,051.41,055.3
1,054.41,050.31,053.71,044.7
1,043.91,046.21,046.11,033.0
Food
301.9
305.8312.1316.3319.2331.0
346.5359.1364.5380.7389.7
397.5399.2411.9412.6404.7
413.2431.9441.5442.8448.0
448.8446.6451.4463.4472.3
483.0494.1500.7513.4513.3
515.8516.6
458.3467.1475.1488.2496.9502.4
506.8513.1515.8518.0
517.6512.5511.3511.7
513.9516.3517.1515.9
518.7517.0517.4513.5
Cloth-
andshoes
58.2
58.759.862.463.668.5
71.576.376.980.281.9
81.084.690.496.995.4
98.5103.2108.7119.0124.1
126.0132.8133.7142.4153.1
158.8170.3174.5178.9187.9
187.4182.9
135.7147.7154.7161.7171.9174.5
176.5176.0180.2182.8
183.4186.8191.2190.1
190.1187.2188.2184.1
181.7186.1184.7178.9
Gaso-lineandoil
38.1
39.439.841.542.845.1
47.350.251.855.559.2
62.965.968.672.168.6
70.673.475.777.476.4
72.073.273.975.777.9
79.282.984.786.186.7
85.083.1
73.476.979.079.584.685.4
85.186.185.887.5
86.683.286.690.2
87.284.584.484.0
81.883.083.683.9
Fueloilandcoal
22.6
21.720.620.621.622.5
23.524.224.223.021.8
20.219.521.523.318.4
18.120.319.619.518.1
14.011.810.911.111.2
11.512.112.012.011.5
10.09.6
10.511.411.111.412.411.9
12.111.912.112.0
10.811.511.312.3
9.510.511.08.9
9.39.810.19.2
Services
Total !
546.0
568.5591.3620.0648.0688.3
724.1760.2796.2837.0877.2
912.5946.7997.4
1,042.21,066.8
1,103.61,149.51,196.81,254.11,296.5
1,323.91,344.41,368.91,421.41,473.0
1,537.01,576.11,637.41,698.51,732.9
1,773.01,801.9
1,386.21,443.91,494.21,557.11,595.81,655.5
1,679.61,690.01,707.51,716.9
1,720.31,725.41,735.41,750.7
1,751.81,769.61,787.31,783.1
1,786.31,797.21,806.81,817.1
Hous-ing2
159.8
168.1176.0185.8194.4203.5
214.6224.4234.5246.0259.1
269.3280.9295.9310.8326.9
336.5346.7355.4372.9387.9
399.4407.3409.6415.5426.8
435.9442.1452.5461.8469.0
474.5478.8
411.0419.7431.3438.1444.8457.0
458.4460.3462.8465.6
466.1467.2470.2472.8
472.8473.0475.4476.9
477.3478.3479.4480.4
Householdoperation
Total 1
75.0
78.581.285.288.492.6
96.8101.4106.2110.1115.3
118.9120.8126.8132.0132.5
138.1143.9151.0158.0162.9
167.1165.6166.7169.4173.7
179.1180.8187.8196.9201.5
202.1206.2
166.2173.3174.8182.6182.8189.3
194.8194.7199.5198.6
200.2198.3200.7206.7
195.6202.8206.3203.7
201.7207.1208.0207.9
Elec-tricityandgas
34.5
36.338.340.942.845.1
47.249.752.455.058.0
60.461.864.966.566.9
70.472.976.078.879.3
81.680.381.283.784.3
86.685.688.492.794.2
92.294.2
80.286.884.588.586.888.6
92.491.493.993.0
94.091.492.898.4
87.093.294.993.5
91.795.695.294.4
Trans-porta-tion
45.4
46.747.048.750.553.0
55.458.662.065.468.9
71.073.677.879.679.9
81.484.490.292.996.1
91.388.987.491.6100.0
109.2112.6116.6122.5126.0
129.0128.3
88.294.2103.5111.2113.4117.9
120.3122.1123.5124.2
124.6125.0126.3128.0
128.7128.9129.6128.7
127.0127.9128.9129.4
Medi-calcare
95.0
98.4102.0110.2117.1129.8
135.8142.3148.1159.5171.3
180.7193.7207.0222.4231.1
243.8255.5267.9279.2290.9
302.1318.3323.7332.6341.9
353.0366.2384.7399.4408.5
424.3439.5
327.8334.8344.9359.1372.0390.7
395.3397.7401.7403.0
406.9406.8408.7411.5
417.7422.4427.7429.6
432.9436.9441.7446.5
1 Includes other items not shown separately.2 Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.
313Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-14.—Gross and net private domestic investment, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961.196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981 ..198219831984
19851986198719881989
19901991 p.1982- IV1983: IV1984- IV1985- IV1986: IV1987- IV1988- 1
I II I IIV
1989: II IIII .IV
1990- 1III l lIV
1991- 1II . . .IllIV P
Grossprivate
domesticinvest-ment
78.8
78.777.987.993.4
101.7
118.0130.4128.0139.9155.2
150.3175.5205.6243.1245.8
226.0286.4358.3434.0480.2
467.6558.0503.4546.7718.9
714.5717.6749.3793.6837.6
802.6725.3464.2614.8722.8737.0697.1800.2770.6788.4800.7814.8844.7844.3826.8834.4812.0825.9821.8750.9709.3708.8740.9742.3
Less:Consump-
tion offixed
capital
44.6
46.347.749.351.353.9
57.362.167.473.981.5
88.897.6
109.9120.4140.2
165.2182.8205.2234.8272.4
311.9362.4399.1418.4433.2
454.5478.6502.2534.0574.5
594.8623.5412.5439.7448.0465.6488.2512.1522.4529.9536.5547.2556.0563.6586.7591.7585.3590.1598.3605.4615.4620.0623.7635.1
Equals: Net private domestic investment
Total
34.2
32.430.338.642.047.8
60.768.360.666.073.7
61.578.095.7
122.7105.5
60.9103.6153.1199.3207.8
155.7195.6104.3128.2285.6
260.0239.1247.1259.6263.1
207.9101.851.7
175.1274.8271.4208.9288.1248.2258.4264.2267.6288.7280.7240.1242.8226.8235.8223.5145.593.988.8
117.2107.2
Net fixed investment
Total
30.1
29.227.332.536.442.8
51.054.550.156.964.0
59.269.985.8
105.091.3
66.586.8
128.3171.3195.1
165.2170.2120.3133.8214.6
235.4230.4220.9243.4227.1
207.9122.098.0
154.9223.8238.8227.8228.8231.4244.6247.1250.3245.5238.4216.8207.7230.1210.1209.4182.1133.1125.8120.8108.3
Nonresidential
Total
12.3
13.812.215.316.421.3
30.336.733.235.040.5
38.436.842.559.058.9
41.545.664.994.1
117.3
113.8127.199.169.1
126.6
146.1114.4103.0125.8122.1
120.4
Struc-tures
6.6
7.77.68.38.3
10.3
14.116.015.115.817.9
18.418.418.723.824.5
18.819.923.435.549.9
59.175.572.446.265.1
75.251.846.747.948.5
50.3
Pro-ducers'durableequip-ment
5.7
6.14.67.08.1
11.0
16.220.718.119.222.6
20.018.423.835.234.5
22.725.641.558.667.4
54.751.626.722.961.5
70.962.656.377.973.6
70.1
Resi-dential
17.8
15.415.117.220.021.5
20.717.816.921.923.5
20.833.143.246.032.3
25.141.263.477.377.8
51.443.121.264.687.9
89.3116.0117.9117.6105.0
87.5
Change inbusiness
inven-tories
4.2
3.22.96.15.75.0
9.713.810.59.19.7
2.38.09.9
17.714.3
5716.724.727.912.8
-9.525.4
-15.9-5.571.1
24.68.6
26.316.236.0
.0-20.2
46320.251.032.6
-18.859.316.813.817.117.343.242.323.335.1
-3.325.614.1
-36.5-39.2-37.1-3.6-1.1
Source: Department of Commerce, Bureau of Economic Analysis.
314Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-15.—Gross and net private domestic investment in 1987 dollars, 1959-91
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
1980198119821983.1984
19851986198719881989
19901991".
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988:1IIIllIV
1989:1IIIllIV
1990:1||IIIIV
1991:1IIIllIV*
Grossprivate
domesticinvest-ment
296.4
290.8289.4321.2343.3371.8
413.0438.0418.6440.1461.3
429.7481.5532.2591.7543.0
437.6520.6600.4664.6669.7
594.4631.1540.5599.5757.5
745.9735.1749.3773.4789.2
744.5672.6
503.5669.5756.4763.1705.9793.8
756.9769.4782.2785.0
803.2797.4776.8779.2
754.9766.0760.3696.6
657.0656.3686.5690.6
Less:Consump-
tion offixed
capital
168.8
173.7178.6183.6189.6196.4
205.0214.9225.2235.3246.7
258.0269.1285.0296.4310.3
322.8334.6348.4364.5384.5
400.7417.8429.5447.4455.5
471.5486.7502.2518.5542.1
550.5568.4
439.2468.5467.4480.1492.5508.1
512.2516.4520.6524.7
528.9532.9552.3554.3
544.4548.3552.4556.7
561.9565.3569.0577.5
Equals: Net private domestic investment
Total
127.5
117.1110.8137.6153.7175.4
208.1223.0193.4204.7214.6
171.7212.3247.2295.3232.6
114.8186.1252.1300.0285,2
193.7213.2111.0152.1302.0
274.4248.4247.1254.9247.1
194.0104.2
64.3201.0289.0283.0213.3285.7
244.7253.1261.6260.3
274.3264.6224.5224.9
210.6217.7207.9139.9
95.191.0
117.5113.1
Net fixed investment
Total
114.0
109.0103.6122.0137.7159.7
182.9186.3165.8181.1189.8
165.8191.6224.6257.6201.7
128.7160.6217.8262.8271.6
201.9188.7128.5147.7234.0
252.3239.9220.9235.0214.5
193.8119.3
109.2171.7241.1252.8233.4225.8
225.5237.0238.1239.3
233.1225.7204.3194.9
214.5195.5193.9171.1
127.9121.4117.5110.4
Nonresidential
Total
39.2
44.139.949.552.869.7
99.9118.1103.9105.1112.2
98.790.898.9
134.6122.3
72.074.599.0
134.4154.1
129.5131.6101.071.6
134.3
154.0118.3103.0122.6117.4
114.5
Struc-tures
25.4
30.530.632.932.139.5
53.058.353.052.256.0
53.549.049.257.953.4
36.736.839.855.270.1
73.382.075.350.369.3
79.454.946.746.745.8
46.0
Pro-ducers'durableequip-ment
13.8
13.79.4
16.620.730.2
46.959.850.952.956.2
45.241.749.776.768.9
35.337.759.279.284.0
56.149.625.721.465.0
74.663.356.375.971.7
68.6
Resi-dential
74.8
64.863.772.584.990.0
83.068.261.976.077.6
67.1100.8125.7123.079.4
56.886.1
118.8128.4117.5
72.557.127.576.099.8
98.3121.6117.9112.497.0
79.2
Change inbusiness
inven-tories
13.6
8.17.2
15.616.015.7
25.136.727.623.624.8
5.920.822.537.730.9
-13.925.534.337.213.6
-8.324.6
-17.54.4
67.9
22.18.5
26.319.932.6
.215.1
44929.347.930.2
-20.159.9
19.216.123.520.9
41.238.920.230.0
-4.022.113.9
-31.2
-32.8-30.4
.12.7
Source: Department of Commerce, Bureau of Economic Analysis.
315Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-16.—Inventories and final sales of domestic business, 1959-91
[Billions of dollars, except as noted; seasonally adjusted]
Quarter
Fourth quarter:1959
19601961196219631964
19651966196719681969
19701971197219731974
1975197619771978.1979
19801981.198219831984
19851986198719881989
19901991 ' .
1988: 1IIIllIV
1989: IIIIIIIV
1990: III .I l lIV.
1991: 1III I IIV P
Inventories 1
Total2
141.2
145.2147.0153.4158.7164.2
178.4194.0206.0221.4242.5
249.4267.4296.6365.1435.2
440.1475.3521.6605.3702.6
784.1836.2817.0827.5898.9
904.3887.9950.6
1,025.11,084.6
1,103.41,070.5
963.8986.8
1.006.61,025.11,048.31,061.91,068.71,084.61,084.61,092.91,114.81,103.41,087.81,081.01,079.01,070.5
Farm
31.6
33.033.734.834.933.3
37.436.336.538.741.9
40.145.055.378.074.3
75.572.275.292.197.9
104.9101.4103.6103.2100.9
96.690.590.995.495.6
93.191.9
90.294.295.995.497.498.295.095.695.898.496.893.195.698.096.291.9
Nonfarm
Total2
109.6
112.2113.4118.6123.8130.9
141.0157.8169.5182.6200.6
209.2222.4241.3287.1360.9
364.5403.1446.4513.2604.7
679.3734.7713.5724.4797.9
807.7797.3859.7929.6989.0
1,010.3978.5
873.6892.6910.8929.6950.9963.7973.8989.0988.9994.5
1,018.01,010.3
992.1983.1982.8978.5
Manu-facturing
55.2
56.257.260.362.265.9
70.780.987.594.0
103.4
105.8107.3113.6136.1177.0
177.8194.9210.6238.0280.6
309.8331.9318.5319.2349.0
339.9328.1349.3383.2409.7
416.6396.8
356.4365.2372.7383.2393.1400.6407.4409.7409.9410.6423.1416.6410.3404.8403.7396.8
Whole-sale
trade
21.0
21.321.822.423.925.2
26.930.332.734.637.9
41.745.250.059.475.6
76.286.196.2
111.7141.2
174.2184.8174.7168.9187.2
184.9183.4196.3215.3224.8
234.3231.8
202.8208.6213.2215.3216.9220.7222.1224.8226.6228.5233.7234.3233.3229.1229.1231.8
Retailtrade
26.2
27.527.028.329.631.0
33.736.236.940.744.5
45.852.357.766.474.6
74.782.793.3
107.5118.9
125.0137.0139.5153.7173.5
188.6193.4216.1229.9250.2
248.8244.3
216.3220.4225.4229.9238.5239.3240.1250.2244.5246.9249.8248.8241.5242.1243.9244.3
Other
7.2
7.27.47.58.08.8
9.810.412.413.314.9
16.017.619.925.233.7
35.839.446.355.964.1
70.381.180.782.588.3
94.392.498.0
101.2104.4
110.7105.7
98.298.499.5
101.2102.3103.0104.1104.4107.9108.6111.3110.7106.9107.0106.1105.7
Finalsales ofdomestic
busi-ness3
36.2
37.439.341.544.247.1
52.155.158.764.568.5
72.378.687.596.0
104.0
116.2127.6142.7164.5182.3
201.2217.2228.6249.6271.5
292.7311.1329.2358.4376.9
394.4404.2
336.8345.4351.7358.4363.1369.2374.4376.9385.3389.1394.0394.4395.9401.3402.3404.2
Ratio of inventoriesto final sales of
domestic business
Total
3.90
3.883.743.693.593.49
3.433.523.513.433.54
3.453.403.393.804.18
3.793.723.653.683.85
3.903.853.573.323.31
3.092.852.892.862.88
2.802.65
2.862.862.862.862.892.882.852.882.812.812.832.802.752.692.682.65
Nonfarm
3.03
3.002.882.862.802.78
2.712.862.892.832.93
2.902.832.762.993.47
3.143.163.133.123.32
3.383.383.122.902.94
2.762.562.612.592.62
2.562.42
2.592.582.592.592.622.612.602.622.572.562.582.562.512.452.442.42
1 Inventories at end of quarter. Quarter-to-quarter change calculated from this table is not the current-dollar change in businessinventories (CBI) component of GDP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition,changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.2 Inventories of construction establishments are included in "other" nonfarm inventories.3 Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product ofhouseholds and institutions and general government and includes a small amount of final sales by farms.
Note.—The industry classification of inventories is on an establishment basis and is based on the 1987 Standard IndustrialClassification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
316Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-17.—Inventories and final sales of domestic business in 1987 dollars, 1959-91
[Billions of 1987 dollars, except as noted; seasonally adjusted]
Quarter
Fourth quarter:1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991 *
1988:1I II l lIV... .
1989:1III l lIV
1990:1.||II IIV...
1991:1||I I IIV "
Inventories *
Total 2
388.6
396.7403.9419.5435.6451.2
476.4513.1540.7564.3589.2
595.1615.8638.4676.1707.0
693.1718.6752.9790.1803.7
795.4820.0802.5806.9874.8
896.9905.5931.8951.7984.3
984.5969.4
936.6940.6946.5951.7
962.0971.7976.8984.3
983.3988.8992.3984.5
976.3968.7968.7969.4
Farm
79.6
80.582.183.985.483.4
84.683.584.586.986.9
86.389.290.692.992.5
92.990.893.693.095.7
92.398.3
101.493.194.8
97.295.188.781.781.0
82.782.8
87.685.684.181.7
83.184.583.081.0
81.483.084.182.7
82.282.383.182.8
Nonfarm
Total2
308.9
316.2321.8335.7350.2367.8
391.7429.6456.3477.5502.3
508.8526.7547.7583.3614.5
600.2627.8659.2697.1708.0
703.1721.7701.0713.8780.0
799.8810.4843.1870.0903.3
901.9886.6
849.0855.0862.4870.0
879.0887.3893.8903.3
901.9905.8908.3901.9
894.1886.4885.7886.6
Manu-facturing
152.4
153.9157.9166.1171.6179.6
190.2212.1227.6237.4246.7
246.1243.9249.6264.9283.7
277.2289.6297.1309.2320.1
319.9324.0311.3311.9339.4
335.7333.6340.2355.3373.8
372.5367.5
343.4346.3349.3355.3
359.5365.9372.3373.8
374.5374.6375.9372.5
372.6369.1368.0367.5
Whole-sale
trade
61.2
62.463.765.969.673.4
77.686.592.094.7
100.3
106.9112.3116.3121.1130.8
127.3135.3144.4155.8157.3
161.9164.8159.9159.3174.7
178.7185.7192.7199.1202.5
205.6204.3
196.9198.2199.7199.1
198.6201.7201.7202.5
203.5204.7205.4205.6
206.1202.6202.3204.3
Retailtrade
67.6
71.470.273.876.980.3
86.892.592.199.3
105.9
105.8117.8125.3134.5133.6
127.6134.8144.5153.7153.5
146.7152.9151.7162.8181.4
194.1196.7213.6219.7231.0
224.2217.7
212.2214.1217.1219.7
225.2224.3223.9231.0
224.3226.0226.4224.2
217.2216.4217.9217.7
Other
27.8
28.530.029.932.034.5
37.238.444.646.149.4
50.052.656.562.766.4
68.068.173.378.377.1
74.680.078.179.884.5
91.394.496.695.996.0
99.597.0
96.596.396.395.9
95.795.595.996.0
99.6100.5100.599.5
98.298.397.497.0
Finalsales ofdomestic
busi-ness3
130.6
133.6138.8144.0152.3159.8
173.5176.3182.8191.3194.5
196.4204.2218.4223.2218.5
226.5235.6246.8261.3265.7
265.4262.7264.9279.0292.7
305.0316.9325.2339.5343.9
346.1345.2
330.3334.8336.3339.5
340.4342.5344.5343.9
348.2347.8348.1346.1
343.7345.8344.9345.2
Ratio of inventoriesto final sales of
domestic business
Total
2.98
2.972.912.912.862.82
2.752.912.962.953.03
3.033.022.923.033.24
3.063.053.053.023.02
3.003.123.032.892.99
2.942.862.872.802.86
2.842.81
2.842.812.812.80
2.832.842.842.86
2.822.842.852.84
2.842.802.812.81
Nonfarm
2.37
2.372.322.332.302.30
2.262.442.502.502.58
2.592.582.512.612.81
2.652.662.672.672.66
2.652.752.652.562.66
2.622.562.592.562.63
2.612.57
2.572.552.562.56
2.582.592.592.63
2.592.602.612.61
2.602.562.572.57
1 Inventories at end of quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GDP is stated at annual rates.2 Inventories of construction establishments are included in "other" nonfarm inventories.3 Quarterly totals at monthly rates. Final sales of domestic business equals final sales of domestic product less gross product ofhouseholds and institutions and general government and includes a small amount of final sales by farms.
Note.—The industry classification of inventories is on an establishment basis and is based on the 1987 Standard IndustrialClassification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
317305-592 0-92-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-18.—Foreign transactions in the national income and product accounts, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959I96019611962.19631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991p
1982: IV....1983: IV....1984: IV....1985: IV....1986: IV....1987: IV....1988: 1
I IIII.. . .IV....
1989: 1IIIII....IV....
1990: 1IIIII....IV ...
1991: 1II ....Ill ...IV..
Receipts from rest of the world
Total *
25.030.231.433.536.141.043.547.250.255.661.270.874.283.4
115.6152.6164.4181.6196.5233.3299.7360.9398.2379.9372.5410.5399.3415.2469.0572.9650.3698.2
357.5388.3415.2402.9426.7506.8541.8562.1580.7606.9
627.2653.5649.6671.1
679.6688.1694.1730.9
713.8721.4728.9
Exports of goods andservices
Total
20.625.326.027.429.433.635.438.941.445.349.357.059.366.291.8
124.3136.3148.9158.8186.1228.9279.2303.0282.6276.7302.4302.1319.2364.0444.2504.9550.4593.3
265.6286.2308.7304.7333.9392.4418.5438.8452.4467.0
486.1506.2506.2521.3
534.6545.9548.7572.6
565.9589.8597.0620.4
Mer-chan-dise2
16.520.520.921.723.326.727.830.732.235.338.344.545.651.873.9
101.0109.6117.8123.7145.4184.2226.0239.3215.2207.5225.8222.4226.2257.7325.8371.4398.2428.1
198.2218.2231.4222.6235.8283.3304.7321.5331.6345.4
358.6376.5370.3380.4
390.3397.5395.0410.0
412.3426.7427.3445.9
Serv-ices2
4.24.85.15.76.16.97.68.29.2
10.011.012.413.814.417.823.326.731.135.140.744.753.263.767.469.276.679.793.0
106.2118.4133.5152.2165.2
67.467.977.382.198.1
109.2113.8117.3120.7121.6
127.5129.7135.9140.9
144.2148.4153.7162.6
153.5163.1169.7174.5
Receiptsof factorincome3
4.35.05.46.16.67.48.18.38.9
10.311.913.014.116.423.830.328.232.837.747.169.780.694.197.395.8
108.197.396.0
105.1128.7145.4147.7
91.9102.1106.698.192.8
114.4123.3123.3128.3139.9
141.1147.3143.4149.8
145.0142.2145.4158.3
147.9131.6132.0
Payments to rest of the world
Total
25.030.231.433.536.141.043.547.250.255.661.270.874.283.4
115.6152.6164.4181.6196.5233.3299.7360.9398.2379.9372.5410.5399.3415.2469.0572.9650.3698.2
357.5388.3415.2402.9426.7506.8541.8562.1580.7606.9
627.2653.5649.6671.1
679.6688.1694.1730.9
713.8721.4728.9
Imports of goods andservices
Total
22.322.822.725.026.128.131.537.139.946.650.555.862.374.291.2
127.5122.7151.1182.4212.3252.7293.9317.7303.2328.1405.1417.6451.7507.1552.2587.8624.8620.4
295.1358.0415.7440.2467.1535.6540.5544.3550.9573.1
575.0589.2588.3598.8
612.6606.3631.2649.2
602.7607.0634.3637.7
Mer-cnan-dise2
15.315.215.116.917.719.422.226.327.833.936.840.946.656.971.8
104.599.0
124.6152.6177.4212.8248.6267.7250.6272.7336.3343.3370.0414.8452.1484.6507.4499.4
241.6300.0344.1363.0382.4437.6441.6445.7451.1470.1
473.6487.9485.1491.8
500.2492.8511.8525.0
485.4488.3511.1512.7
Serv-ices2
7.07.67.68.18.48.79.3
10.712.212.613.714.915.817.319.322.923.726.529.834.839.945.349.952.655.468.874.381.792.3
100.1103.3117.4121.1
53.458.071.677.284.798.099.098.699.8
103.0
101.5101.3103.2107.0
112.4113.5119.4124.1
117.3118.7123.2125.0
Pay-ments
offactor
in-come*
1.51.81.81.82.12.42.73.13.44.15.86.66.47.7
11.114.614.915.717.225.337.546.560.967.166.583.882.486.9
100.5120.8141.2137.0
64.471.085.582.488.9
106.9111.4117.7124.1130.2
136.7148.2140.9139.2
134.8141.5139.1132.6
125.2123.5121.0
Transfer payments (net)
Total
2.32.42.72.82.82.93.03.13.33.13.13.54.04.24.55.35.25.85.86.07.18.59.5
11.612.515.216.917.916.017.317.319.2
-26.7
13.317.420.018.919.220.716.214.415.323.2
16.314.616.721.7
17.220.819.119.6
-70.6-30.8-5.5
Frompersons(net)
0.4.4.5
'.B.1.7.7.9.9
1.01.21.21.21.31.11.01.0.9.9
1.01.21.31.61.41.92.22.12.42.12.12.12.2
1.51.62.12.02.42.42.31.92.12.2
1.92.22.02.2
2.11.72.52.1
2.32.22.12.1
Fromgovern-
ment(net)
1.81.92.12.12.12.12.12.22.11.91.82.02.42.52.53.23.53.73.43.84.15.05.06.47.39.4
11.412.310.410.410.812.6
-33.8
8.211.013.913.512.814.69.17.89.4
15.1
9.87.8
10.714.8
10.914.512.312.7
-77.8-37.9-12.5-7.1
Frombusiness
0.1.1.1.1.1.2.2.2.2
'.3.4.4.5.7
1.0.7
1.11.41.42.02.43.23.63.83.93.23.53.24.84.44.54.9
3.74.84.03.44.03.84.84.73.85.9
4.64.64.04.6
4.24.64.34.9
4.94.94.94.9
Netforeigninvest-ment
-1.23.24.33.95.07.66.33.93.61.81.85.01.4
-2.88.95.3
21.69.0
-9.0-10.3
2.411.910.1
-1.9-34.6-93.6
-117.6-141.4-154.5-117.5-96.0-82.8
-15.3-58.2
-105.9-138.7-148.6-156.4-126.3-114.4-109.6-119.5
-100.8-98.4-96.3-88.6
-85.0-80.4-95.3-70.4
56.521.7
-20.9
1 Includes capital grants received by the United States (net), not shown separately. See Table B-26 for data.2 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.3 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.4 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
318Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-19.—Exports and imports of goods and services and receipts and payments of factor income in1987 dollars, 1959-91
[Billions of 1987 dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959
19601961196219631964...
19651966 .196719681969
19701971197219731974
19751976197719781979
1980 .1981198219831984
19851986198719881989
19901991 >
1982: IV1983: IV1984: IV1985: IV1986: IV1987- IV
1988: 1III l lIV
1989- 1I II l lIV
1990: II II l lI V .
1991:1||II IIV P
Exports of goods and services
Total
73.8
88.489.995.0
101.8115.4
118.1125.7130.0140.2147.8
161.3161.9173.7210.3234.4
232.9243.4246.9270.2293.5
320.5326.1296.7285.9305.7
309.2329.6364.0421.6469.2
505.7539.6
280.4291.5312.8312.0342.9386.1
407.1417.2424.1438.2
451.2469.5470.5485.8
496.2502.1501.6522.5
512.5535.7545.2565.1
Merchandise 1
Total
58.0
71.271.574.880.391.4
92.198.4
100.1108.8114.4
125.2124.1136.5166.9183.4
178.5183.9183.9203.0225.7
248.2244.0217.7208.3221.3
224.8234.3257.7307.4343.8
369.4398.3
202.8215.5229.0226.4243.5278.0
296.0303.6308.1322.0
330.3347.0343.1354.8
364.9368.0365.1379.4
379.9395.8400.3417.3
Dura-ble
goods
31.5
39.239.441.243.650.2
52.256.163.870.075.2
80.479.387.1
108.0123.5
121.3121.8119.5132.1148.1
161.0154.2130.5124.6133.8
139.3144.8163.0202.8230.6
249.3269.9
119.0131.0138.5139.6150.0180.1
192.7201.2202.7214.7
220.8232.8230.9237.7
243.9249.9248.6254.5
251.2271.0272.8284.5
Non-dura-
blegoods
26.5
32.032.133.536.741.2
39.942.336.338.739.2
44.744.949.558.959.9
57.262.164.470.977.6
87.389.787.283.887.5
85.689.694.7
104.6113.2
120.1128.5
83.784.590.586.893.597.8
103.3102.4105.4107.2
109.5114.1112.2117.1
121.0118.1116.5124.9
128.7124.8127.6132.8
Serv-ices1
15.8
17.218.420.321.524.0
25.927.329.931.533.3
36.137.837.243.451.0
54.459.563.067.267.8
72.382.279.077.684.4
84.495.3
106.3114.2125.4
136.2141.3
77.675.983.885.599.4
108.1
111.2113.6116.0116.2
120.9122.5127.4131.0
131.3134.1136.5143.1
132.6139.9144.8147.8
Re-ceipts
offactor
in-come2
17.0
19.120.622.624.426.7
28.328.129.232.335.8
36.838.142.257.667.5
57.463.067.978.7
107.1
113.7120.7117.9111.0119.4
103.499.2
105.0123.8133.7
130.2
109.7116.5116.1102.994.8
112.9
120.8119.3122.6132.3
131.7136.1131.2135.8
130.0125.9127.2137.4
126.8111.8111.4
Imports of goods and services
Total
95.6
96.195.3
105.5107.7112.9
124.5143.7153.7177.7189.2
196.4207.8230.2244.4238.4
209.8249.7274.7300.1304.1
289.9304.1304.1342.1427.7
454.6484.7507.1525.7544.9
557.0557.2
299.4375.1444.2467.4498.9522.1
520.5515.2526.1540.9
532.4541.3550.3555.7
552.2554.5567.4553.7
531.1548.0576.3573.4
Merchandise 1
Total
60.2
59.159.268.070.975.6
86.5100.2105.2128.1137.0
142.1156.1177.5194.7189.3
163.3200.4223.2245.2248.7
235.6246.1243.1276.5346.1
366.5398.0414.8431.3450.4
458.5458.7
236.3306.6357.9380.0409.1427.4
426.5422.8431.3444.8
439.9447.5455.4458.9
455.9457.2467.9453.0
435.9451.2475.7472.0
Dura-ble
goods
26.0
24.723.728.029.632.8
40.550.653.168.774.1
75.484.495.7
100.9101.3
82.1100.9112.9130.0132.1
133.6143.4143.0167.6219.9
237.2254.6264.2274.7287.0
290.0291.9
134.6191.1229.3243.5259.8273.8
271.1269.3274.4284.0
282.4286.0288.8290.8
283.7287.1296.4293.0
278.9283.2304.8300.9
Non-dura -
blegoods
34.2
34.435.540.041.242.8
46.049.652.159.462.8
66.771.781.793.987.9
81.299.5
110.3115.3116.7
102.0102.7100.1108.9126.2
129.3143.4150.6156.7163.4
168.4166.7
101.7115.5128.6136.5149.3153.7
155.4153.4156.9160.8
157.4161.5166.6168.2
172.3170.1171.5160.0
156.9168.0170.9171.1
Serv-ices1
35.4
37.036.137.536.837.3
37.943.548.649.652.3
54.451.752.849.749.2
46.549.351.554.855.3
54.258.061.165.681.6
88.186.792.394.394.5
98.598.5
63.168.686.387.489.894.6
94.092.594.896.1
92.593.894.996.8
96.397.499.5
100.7
95.396.8
100.6101.5
Pay-ments
offactor
in-come3
6.2
7.27.27.38.29.1
9.911.011.813.617.8
19.218.020.527.633.2
31.631.532.243.258.6
66.679.482.178.093.5
88.290.2
100.4116.1129.9
120.4
77.682.093.986.891.2
105.4
109.0113.8118.4123.0
127.6136.9129.0126.1
120.6125.0121.4114.7
107.0104.7102.2
1 Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included inservices.
2 Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.
3 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
319Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-20.—Relation of gross domestic product, gross national product, net national product, and
national income, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959I96019611962196319641965... .19661967..19681969197019711972..1973197419751976197719781979198019811982198319841985198619871988198919901991 '1982- IV1983: IV1984: IV1985: IV1986- IV1987: IV
1988- 1III l lIV
1989: 1||IIIIV
1990- 1II . . .IllIV
1991: 1||II IIV
Grossdomes-
ticprod-uct
49425134531.85716603.164807027769.88143889.39595
1,010 71,097.2120701,349.6145861,585.9176841,974.1223272,488.62,708.0303063,149.6340503,777.2403874,268.64,539.94,900 452440551385,671 8319513,547.33,869.141405433664,683.0
475244,857.24,947.350446
51399521855,277 353404
54224550475,570.55,557 5
5,589.0565265,709.257366
PIUS:Receiptsof factorincome
from restof the
world »
43505.4616.674818.389
10.311913014.116423.830328232837747 1697806941973958
1081973960
105.1128714541477
919102.11066981928
1144
1233123.312831399
1411147314341498
14501422145.41583
147913161320
Less:Paymentsof factorincome to
rest ofthe
world 2
151.81.81.82.124273.1344.158666.477
11.114614915717.225337546.5609671665838824869
100.5120814121370
644710855824889
1069
1114117712411302
1367148214091392
13481415139.11326
125212351210
Equals:Gross
nation-al
prod-uct
4970516.6535.45758607.7653 J)7081774.98198895.59656
101711,104.9121571,362.31474315991178551994622545252082,742 130638317983434438015405364'277-74,5445490825248255245
322263,578 43890241562434054'690'5
476434'862'74951650543
51443521775'279'853509
54327S'505'55,576 855832
56117566065'720'l
Less:Con-
sumptionof fixedcapital
44646.347.749.351.353957362.167.473.981588.897.6
1099120.41402165218282052234827243119362439914184433245454786502.25340574559486235412543974480465648825121
5224529953655472
5560563658675917
5853590 1598.36054
6154620062376351
Equals:Net
nation-al
prod-uct
4525470.2487.75265556.459926507712.87524821.58842928.3
1,007.31 10571,241.913341143391602717894201982248424302270142780830160336833599 13'799-24,042 44374246737492985*060 328101313873442236907385234'l78-5
424194*332 84415145072
45882465414'693-247592
48474491544,978.549778
49963504065096451077
Indirectbusinesstax andnontaxliability
41945548.151754.758862765.470479.0866943
103.61114121.0129314001516165517781887212024932564280130953299345536503853411043924707262329173177335135163723
3768382038833942
3999408141674192
43084323442.34512
4616464547564810
Less:
Businesstransfer
payments
141.41.51.61.820222.3252.831323.4394.5505.265738299
11.213415.416619021024224.025626827731216018.1202222249242
25225.3246272
272269263270
26827727.6285
296307318328
Statis-tical
discrep-ancy
-18-31-2.2-10-2.0
7_ 72.8
8_.l26
o3.111
-.51460
10410976
13813.6109
-7.4102
-9013912
-24.82842781
10113.8
-2055920
-24.9
344-28.1-258
254
2605225
179
4424
28.221
180165220
Plus:Subsidies
lesscurrentsurplus
ofgovern-
mententer-prises
-09-.8
3
13
1.4121.2152.62.4342.6
42.6143.336294.8476.2
1179.5649.7
14.110.96 148
.696
19.29.72.682
22.0
14612.8-.3165
15.465
-3.053
1023.3
-5.210.8
2.719
-7.148
Equals:Nationalincome
41014257440.54745501.553915869643.76799741.07986833.5899.59929
1,119.5119881,285.3143551,609.1182982,038 92,198.2243252,522.5272083,058.3326843,437.93,692.34,002.64244744596
255152,834.33,134.43 341.9348603,828.8
388883,966.34,027.64,127.6
4,202.6423094,244.74,300 5
439554,461.04,475.24,506.8
4,489.8453084,559.8
'Consists largely of receipts by U.S. residents of interest and dividends and reinvested earnings of foreign affiliates of U.S.corporations.
2 Consists largely of payments to foreign residents of interest and dividends and reinvested earnings of U.S. affiliates of foreigncorporations.
Source: Department of Commerce, Bureau of Economic Analysis.
320Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-21.—Relation of national income and personal income, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19591960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984198519861987 .1988198919901991"1982- IV1983: IV1984- IV1985- IV1986- IV1987- IV1988:1
||I I IIV
1989:1III l lIV
1990:1||II IIV
1991- 1III l lIV.
Nationalincome
410.1425.74405474.55015539.158696437679.97410798.683358995992.9
1 11951,198.812853143551609 1182982,038.92 1982243252,522.5272083,058.3326843437936923400264244744596
25515283423 1344334193'4860382883888839663402764 1276
42026423094244743005
43955446104475245068
448984530845598
Corporateprofitswith
inventoryvaluation
andcapital
consump-tion
adjust-ments
52.350.751.659.665172.182988.686.092689.677590.3
103.21164104.51219147117571997202.517771820151.52127264.22808271631983650351 73190
1503229126132849264634333521364236533783
3662361034503347
3402339829982961
302130353061
Le
Netinterest
10.211.213.114.616118.221124328.130433.640045.449.356571.8800851
10071205149.919122334262.427003079326235023604387745264901481325682818321 133193497368637493765391 14081
4299448446244696
4775484549185064
4926481648014708
SS:
Contribu-tions for
socialinsurance
18.821.922.925.428.530.131640.645.550.457.962268.979.097.6
110.51185134.514981718197.821662513269.62902325.035383798400744234734501752732728298333223623388740964313438744564535
466.8471347544802
4930498650585093
5229525752955313
Wageaccruals
lessdisburse-
ments
0.0.0.0.0.0.0o.0.0.0.00.6.0
_ l_ 5
1113
-.201
.04.220o0o1
_ 1o06o020o00
00ooooo2
2— 4o
0
Per-sonalinter-estin-
come
22.725.026.929.332436.140344.949.554660.869275.781.8941
112.41230134615571845223.2274,03361376.83975461.9498 15317548158326690721371943736418748545075532656235648570858816089
63946656679 16919
7030716272917369
7301721871677091
Per-sonaldivi-dend
in-come
12.713.414.015.016118.020220.922.124.525.123523.525.527.729.629234.739444.250.457166.967.177878.8879
10471004108.411981248128.5694806793927
1056100110311064110.51138
117.0119112081222
1237123512481270
128712741287129.4
Plus:
Govern-ment
transferpay-
mentsto
persons
25.727.531532.634536.039143.652.360667.581897.0
108.4124.1147.41857202.82175234.8262.83126355.7396.3426.1437.84681497.15213555.960206617732.84199428.0442347485058528154895532557.95635
585.0594660686218
646.66537664.46822
7125725.77368756.2
Businesstransfer
paymentsto
persons
1.31.31.41.5171.820212.3252.8283.03.43.84.0455.5596.87.988
10.211.812.815.117820.720820.822423.226.312313.216218820920420520720.821.3
22.622.3223224
22.623123.2236
24725.826927.8
Equals:
Personalincome
391.2409.2426.5453.4476.4510.75529601.7646.5709.9773.78310893.5980.5
1,098.71,205.7130731,446.3160131,807.92,033.12,265 42,534.72,690.92,862.53,154.63,379 83,590.43,802 04,075.94,380 24,679.84,833.92,746 82,965.83,242 53456736478391853,967.7403794,102.94,195.2
4,303.84,351.74,390 944744
4,580.6465474,719.347647
476804,821.1485334,893.1
Source: Department of Commerce, Bureau of Economic Analysis.
321Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—National income by type of income, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959I96019611962196319641965. .19661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 "1982: IV1983: IV1984- IV1985: IV1986: IV1987- IV1988- 1
III l lIV
1989- 1III l lIV
1990- 1III l lIV
1991: 1III l lIV P
Nationalincome l
410.1425.7440.5474.55C1.5539.1586.9643.7679.9741.0798.6833.5899.5992.9
1,119.51,198.81,285.31,435.51,609.11,829.82,038.92,198.22,432.52,522.52,720.83,058.33,268.43,437.93,692.34,002.64,244.74,459.6
2,551.52,834.33,134.43,341.93,486.03,828.83,888.83,966.34,027.64,127.64,202.64,230.94,244.74,300.54,395.54,461.04,475.24,506.84,489.84,530.84,559.8
Compensationof employees
Total
281.2296.7305.6327.4345.5371.0399.8443.0475.5524.7578.4618.3659.4726.2812.8891.3948.7
1,058.31,177.31,333.01,496.41,644.41,815.51,916.02,029.42,226.92,382.82,523.82,698.72,921.33,101.33,290.33,387.71,940.42,101.22,288.12,442.52,582.52,785.12,834.62,895.42,950.23,004.93,051.83,081.03,114.93,157.43,216.13,279.93,325.33,340.03,342.93,377.43,405.33,425.1
Wagesand
salaries
259.8272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3551.5584.5638.7708.6772.2814.7899.6994.0
1,120.91,255.31,376.61,515.61,593.31,684.21,850.01,986.32,105.42,261.22,443.02,585.82,738.92,807.71,611.81,747.31,903.92,039.12,153.92,336.72,371.52,422.92,467.02,510.62,547.82.569.42,595.82,630.22.675.92,731.62,769.92,778.32,771.12,800.22,822.42,837.2
Supple-ments
towages
andsal-
aries2
21.423.825.128.130.733.236.142.746.652.860.166.874.987.6
104.2119.1134.0158.7183.3212.1241.1267.8299.8322.7345.2376.9396.5418.4437.4478.3515.5551.4580.0328.6353.9384.2403.3428.6448.4463.1472.5483.2494.3503.9511.6519.1527.2540.1548.3555.4561.6571.8577.2582.9587.9
Proprietors' income with inventory valuation andcapital consumption adjustments
Total
51.751.954.356.457.760.565.069.470.975.178.979.986.297.4
116.5115.3121.2132.9146.4167.7181.8171.8180.8170.7186.7236.0259.9283.7310.2324.3347.0373.2379.6179.9200.1239.6268.7284.4325.0320.9326.1316.8333.4357.0347.0332.7351.3375.8374.2368.8373.9364.2380.0382.5391.9
Farm
Total
10.711.211.911.911.810.612.914.012.712.714.414.615.219.132.225.523.718.317.121.524.711.521.213.52.4
21.321.522.331.330.941.442.535.210.26.3
21.917.823.642.435.434.123.130.951.543.829.641.050.945.332.441.232.839.632.036.3
Propri-etors'
in-come3
11.612.112.712.712.511.313.714.813.513.615.615.916.620.934.328.227.522.521.827.031.219.430.223.112.130.830.531.039.638.849.650.342.820.015.831.226.732.150.643.642.130.938.859.551.838.049.058.953.240.249.040.547.139.643.9
Capitalcon-
sump-tion
adjust-ment
-0.9-.8-.8-.8
-J-.7-.8-.8-.9
-1.1-1.3
14-1.8-2.0-2.8-3.8
42-4.8
55-6.4-7.9-9.0-9.7
97-9.4-9.0
87-8.3-8.0-8.1
79-7.6
98-9.5
93-8.9-8.6
82-8.2-8.0
7879
-8.0-8.0-8.4-8.0-8.0-7.8-7.8
78-7.7-7.6-7.6-7.6
Nonfarm
Total
41.140.642.444.545.949.852.155.358.262.464.565.370.978.384.389.897.5
114.6129.4146.2157.0160.3159.6157.3184.3214.7238.4261.5279.0293.4305.5330.7344.5169.6193.8217.7250.9260.9282.6285.5292.0293.8302.5305.5303.2303.2310.2324.9328.8336.5332.7331.4340.4350.5355.6
Propri-etors'
income
40.239.841.843.945.249.251.955.458.363.065.066.072.079.386.594.2
100.2117.6132.5150.2161.8165.8160.9157.8176.1197.1212.4230.6252.4266.8278.6308.9325.4168.0182.5196.6223.2230.0254.2257.7265.5269.0274.9279.8275.3275.1284.4300.6306.1315.7313.0312.5321.6331.5336.0
Inven-tory
valua-tion
adjust-ment
0.0.0.0.0.0
-.1-.2-.2-.2
4-.5-.5-.6-.7
-2.0-3.8-1.2
13-1.3
21-2.9-3.0
14-.6-.6
2-.1
8-1.5
128
-.3.6
-1.6.1
14
L7.8
-1.3-4.0-1.4
33-1.0
.2
10-.9-.9-.5-.3-.3
-.1
Capitalcon-
sump-tion
adjust-ment
0.9.8.6.6
'.7.4.2.1
-.2.0
-.1
-.2-.2-.6
-1.4-1.7-1.8-2.0-1.9-2.5
.2
.08.7
18.126.130.927.428.128.122.719.41.1
12.921.029.130.126.726.927.828.729.029.128.927.926.625.323.621.620.219.119.219.419.7
1 National income is the total net income earned in production. It differs from gross domestic product mainly in that it excludesdepreciation charges and other allowances for business and institutional consumption of durable capital goods and indirect businesstaxes. See Table B-20.
See next page for continuation of table.
322Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-22.—National income by type of income, 1959-91—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959196019611962196319641965 .19661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 '1982- IV1983: IV1984- IV1985- IV1986- IV1987: IV .1988- 1
I II l lIV .
1989:1I II l lIV
1990:1III l lIV
1991- 1I II l lIV P.
Rental income of personswith capital consumption
adjustment
Total
14.715.315.816.517.117.318.018.519.418.218.017.818.216.817.315.813.512.19.08.98.4
13.220.821.922.123.318.78.73.24.3
-7.9-12.9-13.2
24.122.224.314.04.76.86.24.14.22.8
-2.2-6.5
-10.3125
-14.2-17.3
104-9.5
-11.9-11.7-14.2-15.2
Rentalincome
ofpersons
18.018.719.219.820.320.521.322.123.422.823.924.225.626.128.229.329.529.930.034.439.149.061.164.464.866.563.453.450.053.446.940.642.066.564.567.660.050.254.254.953.053.252.648.545.349.044.839.035.843.544.041.942.640.942.8
Capitalcon-
sumptionadjust-ment
34-3.4-3.3-3.3-3.2
32-3.3-3.6-3.9-4.6
59-6.4-7.4
93-10.9-13.5
159-17.8-21.0
255-30.8-35.8-40.2-42.4-42.8-43.2-44.6
447-46.8-49.1-54.8
534-55.3-42.3-42.4-43.4-46.0-45.5-47.4-48.6-48.9-49.0-49.7-50.7-51.8-59.4-57.3-53.2-53.2-53.9-53.5
538-54.2-55.1-58.0
Corporate profits with inventory valuation and capital consumption adjustments
Total
52.350.751.659.665.172.182.988.686.092.689.677.590.3
103.2116.4104.5121.9147.1175.7199.7202.5177.7182.0151.5212.7264.2280.8271.6319.8365.0351.7319.0
150.3229.1261.3284.9264.6343.3352.1364.2365.3378.3366.2361.0345.0334.7340.2339.8299.8296.1302.1303.5306.1
Profits with inventory valuation adjustment and withoutcapital consumption adjustment
Total
53.151.051.356.461.267.577.683.080.386.983.271.885.597.9
110.9103.4129.4158.8186.7212.8219.8197.8203.2166.4202.2236.4225.3227.6273.4320.3327.0318.2
160.0216.2223.6228.0225.0293.4303.3316.8320.4340.5332.9332.2323.6319.2330.0335.4302.4304.9315.7316.1313.4
Profits
Profitsbefore
tax
53.451.151.056.461.268.078.885.181.890.689.078.490.1
104.5130.9142.8140.4173.7203.3237.9261.4240.9228.9176.3210.7240.5225.0217.8287.9347.5344.5332.3
168.6223.8220.1231.8235.7311.2322.1342.9353.0372.2370.5347.9326.9332.8336.6331.6335.1326.1309.1306.2318.2
Profitstax
liability
23.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.177.294.096.5
106.5127.1137.0138.0135.3
58.782.283.897.6
116.6135.2126.6135.7139.6146.2149.2141.7131.2129.8137.6137.9138.8127.1119.4123.5128.6
Profits after tax
Total
29.728.428.232.434.940.047.951.449.251.249.444.052.462.681.691.089.5
109.5130.3154.4173.4156.1147.8113.2133.5146.4128.5111.3160.8210.5206.6197.0
109.9141.6136.3134.2119.2176.0195.5207.2213.4226.0221.3206.2195.7203.0199.1193.7196.3199.0189.7182.7189.6
Divi-dends
12.713.414.015.016.118.020.220.922.124.625.223.723.725.828.130.430.135.640.745.952.459.069.270.081.282.792.4
109.8106.2115.3127.9133.7137872.584.283.497.4
111.0106.3109.6113.3117.5121.0124.6127.1129.1130.7132.3132.5133.8136.2137.8136.7138.11385
Undis-tributedprofits
17.015.014.317.418.822.027.830.527.126.624.120.328.636.953.560.659.473.989.5
108.5121.097.178.643.252.363.836.11.6
54.695.278.763.3
37.557.452.936.98.2
69.786.093.995.8
105.096.679.266.772.366.761.262.562.851.946.151.5
Inven-toryvalu-ation
adjust-ment
032
-.3-.0-.1
5-1.2-2.1
16-3.7-5.9-6.6-4.6-6.6
-20.0-39.5-11.0-14.9-16.6
250-41.6
430-25.7
99-8.5-4.1
.29.7
-14.5-27.3-17.5
1423.8
-8.6-7.6
3.538
-10.7178
-18.8-26.1-32.6
317-37.6-15.7-3.3
-13.5-6.6
3.8-32.6-21.2
6.79.9
-4.83.3
Capitalcon-
sumptionadjust-ment
083.3
3.23.94.65.35.65.75.66.45.64.85.35.51.276
-11.7-11.0
13 1-17.3
202-21.2
14910.427.855.544.146.444.724.7
.8-9.1-9.612.937.756.939.649.948.847.444.837.933.228.721.415.410.24.4
-2.7-8.8136
-12.6-7.3-2.9
Netinterest
10.211.213.114.616.118.221.124.328.130.433.640.045.449.356.571.880.085.1
100.7120.5149.9191.2233.4262.4270.0307.9326.2350.2360.4387.7452.6490.1481.3256.8281.8321.1331.9349.7368.6374.9376.5391.1408.1429.9448.4462.4469.6477.5484.5491.8506.4492.6481.6480.1470.8
2 Consists mainly of employer contributions for social insurance and to private pension, health, and welfare funds.3 With inventory valuation adjustment.Source: Department of Commerce, Bureau of Economic Analysis.
323Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Sources of personal income, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959I96019611962196319641965196619671968196919701971197219731974 ..19751976197719781979198019811982198319841985198619871988198919901991 p
1982: IV1983: IV1984- IV1985: IV1986: IV1987- IV1988: 1
IIIllIV
1989:1||IIIIV
1990- 1III l lIV
1991:1||II IIV P
Personalincome
391.2409.2426.5453.4476.4510.7552.9601.7646.5709.9773.7831.0893.5980.5
1,098.71,205.71,307.31,446.31,601.31,807.92,033.12,265.42,534.72,690.92,862.53,154.63,379.83,590.43,802.04,075.94,380.24,679.84,833.92,746.82,965.83,242.53,456.73,647.83,918.53,967.74,037.94,102.94,195.24,303.84,351.74,390.94,474.44,580.64,654.74,719.34,764.74,768.04,821.14,853.34,893.1
Wage and salary disbursements l
Total
259.8272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3551.5583.9638.7708.7772.6814.6899.5993.9
1,120.71,255.41,376.61,515.61,593.31,684.71,849.81,986.52,105.42,261.22,443.02,585.82,738.92,807.81.611.71.747.31.903.32,039.12,153.92,337.02,371.52,422.92,467.02,510.62,547.82,569.42,595.82,630.22,675.92,731.62,769.82,778.22,770.92,800.62,822.42,837.2
Commodity-producingindustries
Total
109.9113.4114.0122.2127.4136.0146.6161.6169.0184.1200.4203.7209.1228.2255.9276.5277.1309.7346.1392.6442.1471.9513.7513.5525.1580.8612.2628.5651.8699.1723.8745.4738.7503.9547.6594.5622.6635.3668.4682.1694.8703.9715.3720.8719.7724.2730.7737.4747.7751.2745.2733.4735.2742.3744.0
Manu-facturing
86.989.889.996.8
100.7107.3115.7128.2134.3146.0157.7158.4160.5175.6196.6211.8211.6238.0266.7300.1334.9355.7386.9384.3397.7439.8461.3473.8490.1524.5542.1555.8556.5378.0415.7450.5469.1478.5501.6512.6520.6527.3537.5542.1539.6541.8544.7548.0557.5560.4557.3549.3552.3559.9564.4
Distrib-utiveindus-tries
65.168.669.673.376.882.087.995.1
101.6110.8121.7131.2140.4153.3170.3186.8198.1219.5242.7274.9308.4336.4368.1385.8406.2445.4475.9501.7536.9575.3607.5634.6641.2391.2422.4458.4487.6512.5551.9559.6571.0580.8589.9599.9605.1608.8616.0624.6634.5640.4639.0635.1642.0644.0643.8
Serviceindus-tries
38.841.744.447.650.754.959.465.372.080.490.699.4
107.9119.7133.9148.6163.4181.6202.8233.7267.7306.9348.1386.5427.4475.8524.5579.5650.7719.6775.9845.0887.6400.9445.8494.4546.8602.1685.0690.2711.4730.1746.8758.7770.0781.1793.9812.4838.0860.6868.8866.5883.0894.4906.6
Govern-ment
46.049.252.456.360.064.969.978.386.496.6
105.5117.1126.5137.4148.7160.9176.0188.6202.3219.4237.3261.4285.7307.5325.9347.8373.9395.7421.8449.0478.6514.0540.2315.6331.5356.1382.2404.0431.7439.7445.7452.1458.5468.4474.7481.8489.7501.5511.4517.7525.2535.8540.5541.8542.8
Otherlabor
income 1
10.611.211.813.014.015.717.819.921.725.228.532.536.743.049.256.565.979.794.7
110.1124.3139.8153.0165.4174.6184.7191.8200.7210.4230.5253.7274.0290.6169.2179.0187.7193.9205.3216.5221.4226.6233.6240.3245.8251.0256.4261.7267.8272.1276.3279.9284.2288.5292.8297.0
Proprietors' incomewith inventoryvaluation and
capitalconsumptionadjustments
Farm
10.711.211.911.911.810.612.914.012.712.714.414.615.219.132.225.523.718.317.121.524.711.521.213.52.4
21.321.522.331.330.941.442.535.210.26.3
21.917.823.642.435.434.123.130.951.543.829.641.050.945.332.441.232.839.632.036.3
Nonfarm
41.140.642.444.545.949.852.155.358.262.464.565.370.978.384.389.897.5
114.6129.4146.2157.0160.3159.6157.3184.3214.7238.4261.5279.0293.4305.5330.7344.5169.6193.8217.7250.9260.9282.6285.5292.0293.8302.5305.5303.2303.2310.2324.9328.8336.5332.7331.4340.4350.5355.6
1 The total of wage and salary disbursements and other labor income differs from compensation of employees in Table B-22 in that itexcludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.
324Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-23.—Sources of personal income, 1959-91— Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
195919601961196219631964196519661967. . . .19681969197019711972197319741975 ...19761977197819791980.. .19811982198319841985198619871988.. .19891990.1991 *1982- IV1983: IV1984- IV1985: IV1986: IV1987: IV1988- 1
IIIllIV
1989: 1||IIIIV
1990: 1 . ..IIIIIIV
1991: 1||IIIIV "
Rentalincome
ofpersons
withcapitalcon-
sumptionadjust-ment
14.715.315.816.517.117.318.018.519.418.218.017.818.216.817.315.813.512.19.08.98.4
13.220.821.922.123.318.78.73.24.3
-7.9129
-13.224.122224.314.04.76.86.24.14.22.8
-2.2-6.5
-10.3-12.5-14.2-17.3-10.4-9.5
-11.9-11.7-14.2-15.2
Personaldividendincome
12.713.414.015.016.118.020.220.922.124.525.123.523.525.527.729.629.234.739.444.250.457.166.967.177.878.887.9
104.7100.4108.4119.8124.8128.569.480.679.392.7
105.6100.1103.1106.4110.5113.8117.0119.1120.8122.2123.7123.5124.8127.0128.7127.4128.7129.4
Personalinterestincome
22.725.026.929.332.436.140.344.949.554.660.869.275.781.894.1
112.4123.0134.6155.7184.5223.2274.0336.1376.8397.5461.9498.1531.7548.1583.2669.0721.3719.4373.6418.7485.4507.5532.6562.3564.8570.8588.1608.9639.4665.6679.1691.9703.0716.2729.1736.9730.1721.8716.7709.1
Transfer payments to persons
Total
27.028.832.834.136.237.941.145.754.663.270.384.6
100.1111.8127.9151.3190.2208.3223.3241.6270.7321.5365.9408.1438.9452.9485.9517.8542.2576.7624.4684.9759.1432.2441.3458.5493.6526.6548.5569.4573.8578.7584.8607.7616.9629.1644.2669.2676.8687.7705.8737.2751.5763.7784.1
Old-age,survivors,disability,
andhealthinsur-ance
benefits
10.211.112.614.315.216.018.120.825.530.232.938.544.549.660.470.181.492.9
104.9116.2131.8154.2182.0204.5221.7235.7253.4269.2282.9300.4325.1352.0379.7216.4226.7241.3256.7273.3285.8297.8298.9301.2303.8316.7321.7328.2334.0347.7348.9353.0358.4373.1377.2381.7386.8
Govern-mentunem-
ploymentinsur-ance
benefits
2.83.04.33.13.02.72.31.92.22.12.24.05.85.74.46.8
17.615.812.79.79.8
16.115.925.226.315.815.716.314.513.414.417.926.731.819.915.615.316.713.414.013.413.313.013.513.814.615.616.117.118.020.523.627.026.529.6
Veteransbenefits
4.64.65.04.74.84.74.94.95.65.96.77.78.89.7
10.411.814.514.413.813.914.415.016.116.416.616.416.716.716.616.917.317.818.316.616.516.416.516.416.516.916.916.916.817.517.317.317.217.917.817.717.918.018.718.418.2
Govern-ment
employ-ees
retire-ment
benefits
2.83.13.43.74.24.75.26.16.97.68.7
10.211.813.816.019.022.726.129.032.736.943.049.454.658.060.966.670.776.082.287.293.199.756.159.558.068.072.477.781.082.582.383.085.886.787.588.892.592.493.194.6
100.398.999.3
100.2
Aid tofamilies
withdepend-
entchildren(AFDC)
0.91.01.11.31.41.51.71.92.32.83.54.86.26.97.27.99.2
10.110.610.711.012.413.013.314.214.815.416.416.717.318.019.821.813.614.514.815.716.716.717.017.117.317.517.617.818.118.419.219.519.920.520.921.722.122.5
Other
5.76.16.57.07.68.29.0
10.312.214.516.219.423.026.129.535.744.749.152.458.466.880.889.794.1
102.1109.2118.1128.5135.5146.5162.4184.2212t997.6
104.2112.5121.3131.1138.3142.7145.1147.6150.6156.7159.5163.4170.2175.9181.1185.8193.9201.2208.0215.7226.7
Less:Personalcontribu-tions for
socialinsurance
7.99.39.7
10.311.812.613.317.820.622.926.227.930.734.542.647.950.455.561.269.881.088.6
104.5112.3119.7132.8149.1162.1173.6194.5211.7224.3238.0113.3123.4135.6152.8165.4177.7189.6192.9196.0199.5208.6210.8212.7214.8220.7222.3226.7227.5235.4237.0239.3240.4
Nonfarmpersonalincome2
376.2393.7410.4437.0460.0495.3534.9582.4628.3691.4753.1809.8871.5954.2
1,058.11,170.21,272.51,415.11,569.91,770.31,989.32,231.62,488.52,649.82,832.63,106.13,333.23,545.63,749.44,023.94,316.64,614.54,775.02,708.52,932.03,193.83,414.93,602.33,854.93,911.23,982.84,058.74,142.94,230.74,286.04,339.04,410.94,507.24,586.54,664.14,700.44,711.94,757.94,797.44,832.6
2 Personal income exclusive of the farm component of wages and salaries, other labor income, proprietors' income, and net interest.Note.—The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and is
based on the 1987 Standard Industrial Classification (SIC) beginning 1987 and on the 1972 SIC for earlier years shown.Source: Department of Commerce, Bureau of Economic Analysis.
325Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-24.—Disposition of personal income, 1959-91
[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]
Year or quarter
195919601961196219631964
19651966196719681969
19701971197219731974
197519761977..19781979
1980 .1981198219831984 ...
19851986198719881989
19901991 "
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988: 1||II IIV
1989- 1III l lIV
1990: 1I I .Il lIV
1991: 1||II IIV
Personalincome
391.2409.2426.5453.4476.4510.7
552.9601.7646.5709.9773.7
831.0893.5980.5
1,098.71,205.7
1,307.31,446.31,601.31,807.92,033.1
2,265.42,534.72,690.92,862.53,154.6
3,379.83,590.43,802.04,075.94,380.2
4,679.84,833.9
2,746.82,965.83,242.53,456.73,647.83,918.5
3,967.74,037.94,102.94,195.24,303.84,351.74,390.94,474.4
4,580.64,654.74,719.34,764.74,768.04,821.14,853.34,893.1
Less:Personaltax andnontax
payments
44.548.750.354.858.056.0
61.971.077.992.1
109.9
109.0108.7132.0140.6159.1
156.4182.3210.0240.1280.2
312.4360.2371.4368.8395.1
436.8459.0512.5527.7591.7
621.0616.0
372.1371.6413.4448.8478.5528.6
510.8530.4527.7542.0574.3597.6591.8602.9
606.6622.7627.5627.2617.1613.6615.1618.3
Equals:Dispos-
ablepersonalincome
346.7360.5376.2398.7418.4454.7
491.0530.7568.6617.8663.8
722.0784.9848.5958.1
1,046.5
1,150.91,264.01,391.31,567.81,753.0
1,952.92,174.52,319.62,493.72,759.5
2,943.03,131.53,289.53,548.23,788.6
4,058.84,217.8
2,374.72,594.32,829.13,007.93,169.33,389.9
3,456.83,507.63,575.23,653.23,729.53,754.23,799.13,871.4
3,974.04,032.04,091.84,137.54,151.04,207.54,238.24,274.7
Less: Personal outlays
Total
324.7339.9351.3372.8393.7423.1
456.4494.3522.8573.9620.4
664.4719.3788.6871.9953.0
1,050.41,170.71,303.11,459.61,629.3
1,798.61,982.12,119.62,324.72,537.2
2,753.22,943.63,146.93,392.03,621.6
3,852.23,995.8
2,190.42,417.62,606.12,828.23,017.83,219.4
3,294.23,355.23,422.33,496.23,535.93,593.43,656.83,700.4
3,776.63,815.33,895.33,921.73,937.53,977.94,024.94,042.8
Personalcon-
sumptionexpendi-
tures
318.1332.4343.5364.4384.2412.5
444.6481.6509.3559.1603.7
646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.7
1,748.11,926.22,059.22,257.52,460.3
2,667.42,850.63,052.23,296.13,517.9
3,742.63,886.8
2,128.72,346.82,526.42,739.82,923.13,124.6
3,199.13,260.53,326.63,398.23,436.53,490.63,551.73,592.8
3,667.33,706.03,785.23,812.03,827.73,868.53,916.43,934.4
Interestpaid bypersons
6.17.07.37.88.9
10.0
11.112.012.513.815.7
16.817.819.622.424.2
24.526.730.737.544.5
49.454.658.865.775.0
83.690.992.393.7
101.6
107.5106.8
60.269.277.686.492.392.4
92.892.793.695.897.4
100.6103.1105.4
107.2107.6107.7107.6107.5107.1106.3106.2
Per-sonal
transferpay-
mentsto restof theworld(net)
0.4.4.5.5.6.7
.7
.7
.9
.91.0
1.21.21.21.31.1
1.01.0.9.9
1.0
1.21.31.61.41.9
2.22.12.42.12.1
2.12.2
1.51.62.12.02.42.4
2.31.92.12.21.92.22.02.2
2.11.72.52.12.32.22.12.1
Equals:Personalsaving
22.020.624.925.924.631.6
34.636.445.943.943.4
57.665.559.986.293.5
100.493.288.1
108.1123.7
154.3192.4200.0169.1222.3
189.8187.8142.6156.2166.9
206.6222.1
184.2176.7223.0179.7151.5170.5
162.6152.3152.9157.0193.7160.8142.2171.0
197.5216.7196.5215.8213.4229.6213.3232.0
Percent of disposablepersonal income »
Personal outlays
Total
93.694.393.493.594.193.1
93.093.191.992.993.5
92.091.792.991.091.1
91.392.693.793.192.9
92.191.291.493.291.9
93.694.095.795.695.6
94.994.7
92.293.292.194.095.295.0
95.395.795.795.794.895.796.395.6
95.094.695.294.894.994.595.094.6
Personalconsump-
tionexpend-itures
91.892.291.391.491.890.7
90.590.789.690.590.9
89.589.290.588.588.6
89.190.491.490.790.3
89.588.688.890.589.2
90.691.092.892.992.9
92.292.2
89.690.589.391.192.292.2
92.593.093.093.092.193.093.592.8
92.391.992.592.192.291.992.492.0
Personalsaving
6.45.76.66.55.96.9
7.06.98.17.16.5
8.08.37.19.08.9
8.77.46.36.97.1
7.98.88.66.88.1
6.46.04.34.44.4
5.15.3
7.86.87.96.04.85.0
4.74.34.34.35.24.33.74.4
5.05.44.85.25.15.55.05.4
1 Percents based on data in millions of dollars.Source: Department of Commerce, Bureau of Economic Analysis.
326Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-25.—Total and per capita disposable personal income and personal consumption expenditures in
current and 1987 dollars, 1959-91
[Quarterly data at seasonally adjusted annual rates, except as noted]
Year or quarter
1959I96019611962196319641965196619671968196919701971197219731974 . . .19751976197719781979198019811982198319841985198619871988198919901991 "1982: IV1983: IV.1984: IV1985: IV...1986: IV1987- IV1988- 1
||IIIIV
1989- 1IIIllIV
1990: 1IIIllIV
1991: 1 ,IIIllIV "...
Disposable personal income
Total (billions ofdollars)
Currentdollars
346.7360.5376.2398.7418.4454.7491.0530.7568.6617.8663.8722.0784.9848.5958.1
1,046.51,150.91,264.01,391.31,567.81,753.01,952.92,174.52,319.62,493.72,759.52,943.03,131.53,289.53,548.23,788.64,058.84,217.82,374.72,594.32,829.13,007.93,169.33,389.93,456.83,507.63,575.23,653.23,729.53,754.23,799.13,871.43,974.04,032.04,091.84,137.54,151.04,207.54,238.24,274.7
1987dollars
1,284.91,313.01,356.41,414.81,461.11,562.21,653.51,734.31,811.41,886.81,947.42,025.32,099.92,186.22,334.12,317.02,355.42,440.92,512.62,638.42,710.12,733.62,795.82,820.42,893.63,080.13,162.13,261.93,289.63,404.33,471.23,538.33,534.12,832.62,960.63,118.53,178.73,266.23,335.83,380.13,386.33,407.53,443.13,473.93,450.93,466.93,493.03,531.43,545.33,547.03,529.53,514.83,537.43,539.93,544.3
Per capita(dollars)
Currentdollars
1,9581,9942,0482,1372,2102,3692,5272,6992,8613,0773,2743,5213,7794,0424,5214,8935,3295,7966,3167,0427,7878,5769,4559,98910,64211,67312,33913,01013,54514,47715,31316,23616,69310,18911,03311,92512,56513,12113,90714,15414,33214,57014,85015,13115,19715,33715,58615,96316,15416,34416,47916,49216,67816,75216,849
1987dollars
7,2567,2647,3827,5837,7188,1408,5088,8229,1149,3999,6069,87510,11110,41411,01310,83210,90611,19211,40611,85112,03912,00512,15612,14612,34913,02913,25813,55213,54513,89014,03014,15413,98712,15412,59113,14513,27813,52213,68513,84013,83613,88613,99614,09313,96913,99614,06314,18514,20414,16814,05813,96514,02213,99213,970
Personal consumption expenditures
Total (billions ofdollars)
Currentdollars
318.1332.4343.5364.4384.2412.5444.6481.6509.3559.1603.7646.5700.3767.8848.1927.7
1,024.91,143.11,271.51,421.21,583.71,748.11,926.22,059.22,257.52,460.32,667.42,850.63,052.23,296.13,517.93,742.63,886.82,128.72,346.82,526.42,739.82,923.13,124.63,199.13,260.53,326.63,398.23,436.53,490.63,551.73,592.83,667.33,706.03,785.23,812.03,827.73,868.53,916.43,934.4
1987dollars
1,178.91,210.81,238.41,293.31,341.91,417.21,497.01,573.81,622.41,707.51,771.21,813.51,873.71,978.42,066.72,053.82,097.52,207.32,296.62,391 82,448.42,447.12,476.92,503.72,619.42,746.12,865.82,969.13,052.23,162.43,223.13,262.63,256.72,539.32,678.22,784.82,895.33,012.53,074.73,128.23,147.83,170.63,202.93,200.93,208.63,241.13,241.63,258.83,258.63,281.23,251.83,241.13,252.43,271.23,262.2
Per capita(dollars)
Currentdollars
1,7961,8391,8691,9532,0302,1492,2872,4502,5622,7852,9783,1523,3723,6584,0024,3374,7455,2415,7726,3847,0357,6778,3758,8689,63410,40811,18411,84312,56813,44814,21914,97115,3839,1349,98010,64911,44512,10112,81913,09913,32213,55613,81413,94214,13014,33814,46414,73114,84815,12015,18315,20815,33415,48115,508
1987dollars
6,6586,6986,7406,9317,0897,3847,7038,0058,1638,5068,7378,8429,0229,4259,7529,6029,71110,12110,42510,74410,87610,74610,77010,78211,17911,61712,01512,33612,56812,90313,02713,05112,88910,89511,39011,73912,09512,47212,61512,80812,86212,92113,02012,98612,98913,08413,05113,09013,05613,10712,95212,87712,89212,93012,858
Popula-tion(thou-sands) 1
177,073180,760183,742186,590189,300191,927194,347196,599198,752200,745202,736205,089207,692209,924211,939213,898215,981218,086220,289222,629225,106227.715229,989232,201234,326236,393238,510240,691242,860245,093247,405249,992252,666233,060235,146237,231239,387241,550243,745244,235244,744245,387246,004246,491247,032247,711248,387248,950249,594250,349251,074251,689252,281252,990253,705
1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data areaverages of quarterly data. Quarterly data are averages for the period.
Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).
327Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-26.—Gross saving and investment, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
19591960196119621963196419651966196719681969197019711972197319741975... .19761977197819791980198119821983198419851986198719881989 ....19901991 p
1982- IV1983- IV1984: IV1985- IV1986- IV1987: IV1988- 1
III I IIV.
1989- 1I II I I . .IV
1990: 1||III....IV
1991:1||HIIV "
Gross saving
Total
79.485.184.492.8
100.4110.0125.0131.6130.8141.8159.6155.3173.8201.8252.4249.6241.6285.0338.4416.1468.8465.9557.2508.9501.9634.3610.9575.0619.6704.5744.2711.8
459.0542.8637.4604.3550.5668.6678.6702.0717.0720.6770.0751.1727.9727.9722.6747.9698.3678.3747.7713.9698.0
Gross private saving
Total
82.581.587.495.898.8
111.6123.8132.5144.5146.4149.6165.9192.3205.0245.6256.1306.5323.3355.2413.2458.3500.1586.4617.5641.7743.1736.1721.8731.3802.8827.3851.3
615.9679.1765.1735.2676.7784.4801.0797.5797.5815.3842.0816.6813.7836.9853.1876.2821.9853.9873.8893.0876.4
Per-sonalsav-ing
22.020.624.925.924.631.634.636.445.943.943.457.665.559.986.293.5
100.493.288.1
108.1123.7154.3192.4200.0169.1222.3189.8187.8142.6156.2166.9206.6222.1184.2176.7223.0179.7151.5170.5162.6152.3152.9157.0193.7160.8142.2171.0197.5216.7196.5215.8213.4229.6213.3232.0
Grossbusi-nesssav-ing*
60.560.962.569.974.180.089.296.198.7
102.5106.2108.2126.8145.1159.3162.6206.0230.0267.1305.0334.5345.7394.1417.5472.7520.7546.4533.9588.7646.6660.3644.7
431.6502.4542.1555.5525.3613.9638.4645.1644.6658.3648.3655.8671.4665.8655.6659.5625.5638.1660.4663.4663.1
Governmer/ \ no( ), na
prod
Total
-3.13.6
-3.0-2.9
1.6- -1.6
1.2-1.0
-13.7-4.610.0115
-19.2396.945
-64.8-38.3
1682.99.4
-35.3-30.31086
-139.8-108.8
1253-146.8-111.7-98.3-83.01395
-171.2-156.9-136.3
1278-130.9-126.2-115.8-122.4-95.5
805-94.7-72.1
654-85.7
-108.9-130.5-128.4-123.6-175.6-126.1-179.1-178.4
t surplus or deficit:ional income anduct accounts
Federal
-2.63.5
-2.6-3.4
1.1-2.6
1.3-1.4
-12.7-4.7
8.5-13.3-21.7-17.3-6.6
-11.6694
-52.9-42.4-28.1-15.7-60.1
588-135.5
180 1-166.9-181.4
2010-151.8
1366-124.2-165.3
200718341846
-186.8-187.2
1775-152.7-157.5
1346-119.5-134.9-114.5-110.5-128.4-143.3-160.8
1569-149.7-193.6-146.4-206.7-210.2
Stateandlocal
-0.5.0
-.4.5.4
1.0.0.5
-1.1
l'.51.82.5
13.413.47.14.6
14.625.631.125.124.828.526.940.358.156.154.340.138.441.125.729.626.548.359.056.351.237.035.139.139.040.242.445.142.634.430.328.526.118.020.427.631.8
Capitalgrants
receivedby theUnitedStates(net) «
0.9.7.7
04 20
00001.11.21.100000000000000000000000000000000
Gross investment
Total
77.682.082.291.898.4
109.3124.3134.4131.6141.7157.0155.3176.9202.8252.0251.1247.6295.4349.3423.7482.6479.5568.1501.5512.1625.2597.0576.3594.8676.1741.5719.9736.9448.9556.6616.9598.3548.5643.7644.2673.9691.1695.2743.9745.9730.5745.8727.0745.5726.5680.4765.8730.4720.0731.3
Grossprivatedomes-
ticinvest-ment
78.878.777.987.993.4
101.7118.0130.4128.0139.9155.2150.3175.5205.6243.1245.8226.0286.4358.3434.0480.2467.6558.0503.4546.7718.9714.5717.6749.3793.6837.6802.6725.3464.2614.8722.8737.0697.1800.2770.6788.4800.7814.8844.7844.3826.8834.4812.0825.9821.8750.9709.3708.8740.9742.3
Netforeigninvest-ment3
-1.23.24.33.95.07.66.33.93.61.81.85.01.4288.95.3
21.69.090
-10.32.4
11.910.1
-1.9-34.6-93.61176
-141.41545
-117.5960
-82.811.5
-15.3-58.2
-105.91387
-148.6-156.4-126.3-114.4-109.6
1195-100.8-98.4-96.3-88.6-85.0-80.4-95.3-70.4
56.521.7
-20.9-11.0
Statis-tical
discrep-ancy
-1.831
-2.210
-2.0
-.72.8
.8
26.0
3.11.1
-.51.46.0
10.410.97.6
13.813.610.9
-7.410.2
-9.0-13.9
1.2-24.8
284-2.7
8.1
-10.113.8
-20.5-5.9
20-24.9-34.4-28.1-25.8-25.4-26.0-5.2
2.517.94.4
-2.428.22.1
18.016.522.0
1 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporateconsumption of fixed capital, and private wage accruals less disbursements.2 Consists mainly of allocations of special drawing rights (SDRs).3 Net exports of goods and services plus net receipts of factor income from rest of the world less net transfers plus net capitalgrants received by the United States. See also Table B-18.
* Consists of a U.S. payment to India under the Agricultural Trade Development and Assistance Act. This payment is included incapital grants received by the United States, net.
Source: Department of Commerce, Bureau of Economic Analysis.
328Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-27.—Personal saving, flow of funds accounts, 1946-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901989:1
IIIII....IV....
1990:1IIIII....IV....
1991:1IIIII....
Per-sonalsaving
22.825.024.825.932.033.737.834.527.636.538.338.436.136.738.037.744.547.960.067.480.683.079.778.188.3
101.5118.3153.4118.7154.6166.7192.5199.1208.1210.9237.9265.6307.9371.0352.1429.0337.1390.8448.8389.5370.7590.7439.5394.2424.1554.7268.6310.7474.7275.9389.3
Increase in financial assets
Total
19.612.68.98.9
15.019.528.524.621.028.631.729.133.235.332.635.440.145.555.957.962.171.768.669.680.1
106.7134.2145.8147.8174.6207.5253.4284.5325.8327.1321.6386.3495.0552.5572.4576.5461.4537.2575.3474.7477.5707.8560.4555.4579.2639.6319.3360.6571.3399.7449.4
Check-able
depos-its andcurren-
cy
5.6.0
-2.9-2.0
2.74.61.6.9
2.11.21.9
-.43.7.9.9
-1.0-1.2
4.26.16.72.4
10.39.5
-1.17.4
13.413.413.16.36.0
15.619.722.035.89.2
36.224.633.620.834.199.27.87.3
23.521.130.0
-3.05.6
61.535.438.915.5
-5.371.317.886.2
Timeand
savingsdepos-
its
6.33.52.32.62.44.87.88.29.28.69.4
11.913.911.012.218.326.126.226.327.919.135.430.98.9
43.567.774.063.556.277.6
107.1106.699.674.4
124.972.0
122.6203.3218.6129.998.3
118.1152.6101.1
11.986.8
124.8100.192.673.8
1.2-20.8-6.435.1
-46.0-154.5
Moneymarket
fundshares
2.41.3.0
-.26.0
30.624.590.732.8
-31.144.0
8.739.628.123.581.259.371.989.9
111.851.2
106.5-23.3109.544.4
167.5-61.4-3.3
Securities
Govern-ment
securi-ties2
-1.5.5
1.0
.9-.67.43.7
.26.44.53.9
-2.38.62.51.01.2
-.93.83.8
13.6-2.6
1.227.5
-5.6-11.1
-.717.217.818.89.0
13.829.965.532.040.865.1
100.1112.1113.0
-42.7160.5176.5186.3127.3243.6154.9219.9127.0202.4234.1116.7
-44.1-24.4156.330.7
Corpo-rateequi-ties'
1.21.11.0
.71.81.51.1
U2.01.51.8.6.1
1.2-1.3-1.5-.2
-1.5.0
-3.161
-2.1-.5
-4.4-9.0-4.4-2.0-6.5-.6
-7.7-12.8-25.4-10.5-36.9-15.5-2.3
-56.0-45.7
6.6-27.8
-120.1-90.9
-.6-181.9-33.2-97.7-50.7-27.4
16.425.9
-17.243.797.1
120.4
Othersecuri-ties*
-0.7
.2
-.6.6.2.3
111.01.1.9
1.3.4
1.67
-.31.4.5.9
3.56.27.4
10.77.06.5
-1.28.4
14.0-4.9
2.516.89.84.0
-9.0-9.7
-20.118.33.5
41.559.18.09.4
-23.2-25.3-55.6-15.9
36.9-58.2-13.2
46.4-124.0-10.6-71.0-50.3
-102.8
Insur-anceand
pensionre-
serves5
5.15.45.35.66.16.37.77.97.88.59.59.5
10.411.911.512.113.013.916.417.019.318.819.921.824.228.048.539.943.771.956.678.695.0
101.8118.5117.9153.5142.4172.9223.3231.3118.7210.1229.7215.3220.9305.2174.7218.0160.2265.7143.0292.3316.0245.8411.9
Otherfinan-
cialas-
sets6
3.72.72.21.62.92.02.42.42.01.73.41.94.31.93.74.42.52.13.23.24.26.85.73.94.16.59.48.19.5
10.317.225.835.039.137.510.523.430.636.667.685.147.977.967.565.861.785.19.1
114.241.660.353.6
107.533.240.460.7
Net investment intangible assets *
Owner-occu-pied
homes
4.27.9
10.910.414.913.412.513.714.218.217.115.114.619.618.417.119.522.023.823.122.019.426.329.827.337.850.157.447.036.950.773.995.3
109.689.683.057.896.1
129.0132.1156.8164.9171.0169.0137.9173.1172.6167.7162.6147.0146.8135.6122.4109.4100.297.3
Con-sumerdura-bles
6.79.4
10.210.914.911.48.7
10.37.0
12.78.87.93.77.77.24.58.6
11.915.120.223.221.326.926.219.625.434.340.629.127.441.551.556.850.426.327.322.450.681.895.8
111.4102.9112.6109.786.7
110.6113.8117.097.4
106.788.485.665.935.331.642.0
Non-cor-
poratebusi-nessas-
sets8
1.76.45.65.64.53.11.2.0.8
2.1.1
1.01.2.8
1.41.92.92.92.56.75.45.63.72.2.6
4.95.16.5
-4.4-3.3-3.7
5.95.2
-1.5-22.5-2.9
-18.5-40.3-11.6-11.9-23.3-29,9-37.0-40.4-29.2-25.6-29.9-53.1-52.9-25.1-23.8-25.8-41.9-48.7-45.1-41.8
Less-. Net increase indebt
Mort-gagedebton
non-farm
homes
4.04.94.84.47.16.66.47.69.0
12.311.08.89.6
12.911.412.314.116.417.217.113.512.917.218.313.626.238.844.134.738.960.791.4
109.3117.296.573.952.8
117.1136.4156.3216.8234.0230.7218.6206.4213.1208.8224.5227.9256.3221.2186.0162.1144.5161.3141.2
Con-sumercredit
3.13.73.23.24.63.33.34.11.37.03.62.6
774.02.25.98.59.5
10.15.95.1
10.89.94.6
14.019.022.79.48.0
22.936.745.140.5
2.616.916.448.981.782.558.033.550.443.114.346.939.945.839.733.614.213.4
-4.2-21.2-7.0
-26.3
Otherdebt8 "
2.22.82.82.45.53.83.42.45.05.84.73.36.76.06.16.76.69.4
10.613.312.617.017.821.621.233.047.630.156.734.145.664.088.3
118.4110.4100.3113.2127.5162.7197.6117.594.8
111.9103.160.0
105.0124.782.0
100.893.860.946.738.469.456.242.7
1 Saving by households, personal trust funds, nonprofit institutions, farms, and other noncorporate business.2 Consists of U.S. savings bonds, other U.S. Treasury securities, U.S. Government agency securities and sponsored agency securities,mortgage pool securities, and State and local obligations.3 Includes mutual fund shares.4 Corporate and foreign bonds and open-market paper.5 Private life insurance reserves, private insured and noninsured pension reserves, and government insurance and pension reserves.6 Consists of security credit, mortgages, accident and health insurance reserves, and nonlife insurance claims for households, and ofconsumer credit, equity in sponsored agencies, and nonlife insurance claims for noncorporate business.7 Purchases of physical assets less depreciation.8 Includes data for corporate farms.9 Other debt consists of security credit, U.S. Government and policy loans, and noncorporate business debt.
Source: Board of Governors of the Federal Reserve System.
329Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-28.—Median income (in 1990 dollars) and poverty status of families and persons, by race, selected
years, 1971-90
Year
ALL RACES
197119731975s
197719781979 4
1980198119821983 3
1984198519861987 3
19881989
1990
WHITE197119731975 3
197719781979 *
1980198119821983 3
1984... .198519861987 3
19881989
1990
BLACK197119731975 3
197719781979 4
1980198119821983 3
198419851986.1987 3.19881989
1990
Families 1
Num-ber
(mil-lions)
53.355.156.257.257.859.6
60.361.061.462.062.763.664.565.265.866.1
66.3
47.648.949.950.550.952.2
52.753.353.453.954.455.055.756.156.556.6
56.8
5.25.45.65.85.96.2
6.36.46.56.76.86.97.17.27.47.5
7.5
Medianincome
(in1990
dollars)
$33,19135,47433,32934,52835,36135,262
33,34632,19031,73832,37833,25133,68935,12935,63235,56536,062
35,353
34,44037,07634,66236,10436,82136,796
34,74333,81433,32233,90534,82735,41036,74037,26037,47037,919
36,915
20,78321,39821,32720,62521,80820,836
20,10319,07418,41719,10819,41120,39020,99321,17721,35521,301
21,423
Below poverty level
Total
Num-ber
(mil-lions)
5.34.85.55.35.35.56.26.97.57.67.37.27.07.06.96.8
7.1
3.83.23.83.53.53.6
4.24.75.15.24.95.04.84.64.54.4
4.6
1.51.51.51.61.61.7
1.82.02.22.22.12.02.02.12.12.1
2.2
Per-cent
10.08.89.79.39.19.2
10.311.212.212.311.611.410.910.710.410.3
10.7
7.96.67.77.06.96.9
8.08.89.69.79.19.18.68.17.97.8
8.1
28.828.127.128.227.527.8
28.930.833.032.330.928.728.029.428.227.8
29.3
Femalehouseholder
Num-ber
(mil-lions)
2.12.22.42.62.72.6
3.03.33.43.63.53.53.63.73.63.5
3.8
1.21.21.41.41.31.4
1.61.81.81.91.92.02.02.01.91.9
2.0
.91.01.01.21.21.2
1.31.41.51.51.51.51.51.61.61.5
1.6
Per-cent
33.932.232.531.731.430.4
32.734.636.336.034.534.034.634.233.432.2
33.4
26.524.525.924.023.522.3
25.727.427.928.327.127.428.226.926.525.4
26.8
53.552.750.151.050.649.4
49.452.956.253.751.750.550.151.149.046.5
48.1
Personsbelow
poverty level
Num-ber
(mil-lions)
25.623.025.924.724.526.1
29.331.834.435.333.733.132.432.231.731.5
33.6
17.815.117.816.416.317.2
19.721.623.524.023.022.922.221.220.720.8
22.3
7.47.47.57.77.68.1
8.69.29.79.99.58.99.09.59.49.3
9.8
Per-cent
12.511.112.311.611.411.7
13.014.015.015.214.414.013.613.413.012.8
13.5
9.98.49.78.98.79.0
10.211.112.012.111.511.411.010.410.110.0
10.7
32.531.431.331.330.631.0
32.534.235.635.733.831.331.132.431.330.7
31.9
Median income (in 1990 dollars) ofpersons 15 years old and over with
income 2
Males
Allpersons
$22,27723,71421,50721,83321,92021,205
19,87519,37218,89419,23919,62419,81320,40920,46320,89020,968
20,293
23,35524,88322,59322,86822,95922,152
21,14020,55519,97520,24020,71520,78421,53721,75122,05121,990
21,170
13,92815,05113,50713,57013,75413,713
12,70412,22311,97011,83611,88513,08012,90512,90313,30613,290
12,868
Year-round
full-timeworkers
$31,08133,75831,93232,50232,19831,467
30,41229,75229,33029,53330,19630,36630,87930,69730,20830,151
29,172
31,95534,73632,69733,16732,79532,376
31,27930,45130,11130,32231,23031,20931,74131,41331,22431,459
30,186
21,85123,41123,92422,86625,11823,333
22,00821,54521,38621,61921,31321,82922,37922,46122,88721,825
21,540
Females
Allpersons
$7,7718,2318,2238,5008,1557,835
7,8047,8487,9738,4058,6408,7669,0759,5449,815
10,144
10,070
7,9008,3108,3088,6298,2537,909
7,8477,9358,0828,5528,7418,9369,2549,788
10,05710,342
10,317
6,9227,5017,5487,4527,4317,198
7,2657,0507,1287,3087,7547,6257,8307,9958,1198,301
8,328
Year-round
full-timeworkers
$18,39819,09918,75219,01019,32618,959
18,38517,91118,50519,01219,40019,74120,08620,20820,48920,704
20,586
18,61119,42218,79619,13119,50919,124
18,56318,21018,75419,26619,59220,02020,39320,58220,79620,947
20,840
16,43316,47017,95817,88018,08217,524
17,31316,44616,76217,10317,65617,72217,84518,38318,63518,876
18,518
*The term "family" refers to a croup of two or more persons related by blood, marriage, or adoption and residing together; all suchpersons are considered members of the same family. Beginning 1979, based on householder concept and restricted to primary families.
8 Prior to 1979, data are for persons 14 years and over.3 Based on revised methodology; comparable with succeeding years.4 Based on 1980 census population controls; comparable with succeeding years.Note.—The poverty level is based on the poverty index adopted by a Federal interagency committee in 1969. That index reflected
different consumption requirements for families based on size and composition, sex and age of family householder, and farm-nonfarmresidence. Minor revisions implemented in 1981 eliminated variations in the poverty thresholds based on two of these variables, farm-nonfarm residence and sex of householder. The poverty thresholds are updated every year to reflect changes in the consumer priceindex. For further details, see "Current Population Reports," Series P-60, No. 174.
Source: Department of Commerce, Bureau of the Census.
330Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY
TABLE B-29-—Population by age groups, 1929-90
[Thousands of persons]
July 1
1929
1933
1939
19401941194219431944
194519461947.. .19481949
19501951195219531954 .
19551956195719581959
1960 ..1961196219631964
1965 . . .19661967...19681969.. .
19701971197219731974
1975197619771978...1979
19801981198219831984
19851986 . .198719881989
1990
Total
121,767
125,579
130,880
132,122133 402134,860136 739138,397
139,928141,389144,126146,631149 188
152 271154,878157 553160,184163 026
165 931168,903171 984174,882177 830
180 671183,691186 538189,242191 889
194 303196 560198*712200 706202 677
205 052207 661209'896211 909213 854
215,973218 035220 239222 585225 055
1 227 757i 230 138i 232 5201 234,7991 237 0011 239 2791 241 6251 243,9421 246 3281 248,7811 251,523
Under 5
11,734
10,612
10,418
10,5791085011,3011201612,524
12,97913,2441440614,91915607
1641017,3331731217,63818057
1856619003194941988720 175
2034120522204692034220165
1982419 2081856317*91317376
17 1661724417*1011685116487
16,12115617155641573516063
1645816931172981765117830
1800418 154182671843718759
19155
5-15
26,800
26,897
25,179
24,8112451624,2312409323949
2390724,1032446825,20925852
2672127279288943022731480
3268233*994352723644537368
3849439765412054162642297
4293843*70244*24444*62244*840
4481644*591442034358242989
42508420994129840*42839*552
3884338*19037 8763766937656
3769237706376873800838441
39083
16-19
9,127
9,302
9,822
9,89598409,73096079561
93619,11990978,9528788
8542844684148*4608637
874489169 195954310215
106831102511*18012*00712 736
13 51614 311142001445214800
1528915688160391644616769
1701717 194172761728817 242
17 1601677116 2551570415 141
1481914802149581489414*570
14097
Age (years)
20-24
10,694
11,152
11519
11,6901180711,9551206412062
1203612,0041181411,79411700
11680115521135011*06210832
1071410616106031075610969
11 1341148311*9591271413269
1374614 050152481578616480
1720218 15918 1531852118975
1952719986204992094621 297
21 58421*82121 80721*70021 536
2121420*608199821937218885
18673
25-44
35,862
37,319
39,354
39,8684038340,8614142042,016
42,52143,0274365744,28844916
4567246103464954678647001
47 194473794744047*33747 192
47 140470844701346*99446958
4691247 00147 19447*72148064
48473489365048251*74953051
54302558525756159*40061*379
6349465620678566997172048
7407776 124778977922580635
81942
45-64
21,076
22,933
25,823
26,2492671827,1962767128,138
28,63029,0642949829,93130405
3084931362318843239432942
3350634057345913510935663
3620336722372553778238338
389163953440*1934084641437
4199942482428984323543522
43,8014400844 1504428644390
4451544570446024467944818
449344505845 3104600746503
46980
65 andover
6,474
7,363
8,764
9,03192889,584986710,147
10,49410,8281118511,53811921
1239712,8031320313,61714076
1452514,9381538815,80616248
1667517,0891745717,77818127
18451187551907119,36519680
20107205612102021,52522061
22,69623,278238922450225 134
2570426235268252742627971
2854029 174298413038430988
31592
1 Based on 1980 census of population. Total populations for July 1 based on 1990 census for 1980-1991 are: 227,722; 229,958;232,192; 234,321; 236,370; 238,492; 240,680; 242,836; 245,057; 247,343; 249,975; and 252,626, respectively. Data for age groupsconsistent with these figures are not yet available.
Note.—Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.Source: Department of Commerce, Bureau of the Census.
331Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-30.—Population and the labor force, 1929-91
[Monthly data seasonally adjusted, except as noted]
Year or month
192919331939
19401941194219431944
194519461947
194719481949
1950195119521953 61954.19551956195719581959I9606
19611962 6196319641965196619671968 ...19691970197119726197361974197519761977197861979.1980198119821983198419851986 61987.1988198919901991
Civiliannoninsti-tutionalpopula-tion1
Resi-dentArmedForces l
Laborforceinclud-ing
residentArmedForces
Employ-mentinclud-ing
residentArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-
culfural
Un-em-Ploy-ment
Thousands of persons 14 years of age and over
99,8409990098,64094,64093,22094,090103,070106,018
49,18051,59055,23055,64055,91056,41055,54054,63053,86057,52060,168
47,63038,76045,75047,52050,35053,75054,47053,96052,82055,25057,812
10,45010,0909,6109,5409,1009,2509,0808,9508,5808,3208,256
37,18028,67036,14037,98041,25044,50045,39045,01044,24046,93049,557
1,55012,8309,480
8,1205,5602,6601,070670
1,0402,2702,356
Thousands of persons 16 years of age and over
101,827103,068103,994104,995104,621105,231107,056108,321109,683110,954112,265113,727115,329117,245118,771120,153122,416124,485126,513128,058129,874132,028134,335137,085140,216144,126147,096150,120153,153156,150159,033161,910164,863167,745170,130172,271174,215176,383178,206180,587182,753184,613186,393188,049189,765
1,1692,1432,3862,2312,1422,0641,9651,9481,8471,7881,8611,9002,0612,0062,0181,9462,1222,2182,2532,2382,1181,9731,8131,7741,7211,6781,6681,6561,6311,5971,6041,6451,6681,6761,6971,7061,7061,7371,7091,6881,6371,564
63,37764,16064,52465,24665,78567,08768,51768,87769,48670,15771,48972,35972,67573,83975,10976,40177,89279,56580,99082,97284,88986,35588,84791,20393,67095,45397,826100,665103,882106,559108,544110,315111,872113,226115,241117,167119,540121,602123,378125,557126,424126,867
60,08762,10462,63663,41062,25164,23465,76466,01964,88366,41867,63967,64668,76369,76871,32373,03475,01776,59078,17380,14080,79681,34083,96686,83888,51587,52490,42093,67397,679100,421100,907102,042101,194102,510106,702108,856111,303114,177116,677119,030119,550118,440
59,35060,62161,28662,20862,01762,13863,01563,64365,02366,55266,92967,63968,36969,62870,45970,61471,83373,09174,45575,77077,34778,73780,73482,77184,38287,03489,42991,94993,77596,15899,009102,251104,962
106,940108,670110,204111,550113,544115,461117,834119,865121,669123,869124,787125,303
57,03858,34357,65158,91859,96160,25061,17960,10962,17063,79964,07163,03664,63065,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,824
99,303100,39799,526100,834105,005107,150109,597112,440114,968117,342117,914116,877
7,8907,6297,6587,1606,7266,5006,2606,2056,4506,2835,9475,5865,5655,4585,2004,9444,6874,5234,3613,9793,8443,8173,6063,4633,3943,4843,4703,5153,4083,3313,2833,3873,3473,3643,3683,4013,3833,3213,1793,1633,2083,1693,1993,1863,233
49,14850,71449,99351,75853,23553,74954,91953,90455,72257,51458,12357,45059,06560,31860,54661,75963,07664,78266,72668,91570,52772,10374,29675,21575,97278,66981,59483,27982,43885,42188,73492,66195,47795,93897,03096,12597,450101,685103,971106,434109,232111,800114,142114,728113,644
2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4256,7016,5286,8748,426
Unemploy-ment rate
Allwork-ers2
Civil-ian
work-ers8
Civil-ianlaborforce
tici-pationrate4
Civil-ianem-ploy-ment/pop-ula-tionratio6
Percent
=
5.23.22.92.85.44.34.04.26.65.35.46.55.45.55.04.43.73.73.53.44.85.85.54.85.58.37.66.96.05.87.07.59.59.57.47.16.96.15.45.25.46.6
3224.917.214.69.94.71.91.21.93.93.9
3.93.85.95.33.33.02.95.54.44.14.36.85.55.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.7
55.756.057.258.758.657.255.856.8
58.358.858.959.259.259.058.958.859.360.059.659.559.359.459.358.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.966.566.466.0
47.650.454.557.657.956.153.654.5
56.056.655.456.157.357.357.155.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.057.857.856.156.857.959.359.959.259.057.857.959.560.160.761.562.363.062.761.6
1 Not seasonally adjusted.2 Unemployed as percent of labor force including resident Armed Forces.3 Unemployed as percent of civilian labor force.4 Civilian labor force as percent of civilian noninstitutional population.5 Civilian employment as percent of civilian noninstitutional population.See next page for continuation of table.
332Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-30.—Population and the labor force, 1929-91—Continued
[Monthly data seasonally adjusted, except as noted]
Year or month
1988: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1989: JanFebMar
May"!!"!.'""June
JulyAugSeptOctNovDec
1990: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1991: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Civiliannoninsti-tutionalpopula-tion1
Resi-dent
ArmedForces l
Laborforce
includ-
residentArmedForces
Employ-ment
includingresidentArmedForces
Civilian labor force
Total
Employment
TotalAgri-cul-tural
Non-
cultural
Un-em-ploy-ment
Thousands of persons 16 years of age and over
183,822183,969184,111184,232184,374184,562
184,729184,830184,962185,114185,244185,402
185,644185,777185,897186,024186,181186,329
186,483186,598186,726186,871187,017187,165
187,293187,412187,529187,669187,828187,977
188,136188,261188,401188,525188,697188,866
188,977189,115189,243189,380189,522189,668
189,839189,973190,122190,289190,452190,605
1,7491,7361,7361,7321,7141,6851,6731,6921,7041,6871,7051,696
1,6961,6841,6841,6841,6731,6661,6661,6881,7021,7091,7041,7001,6971,6781,6691,6571,6391,6301,6271,6401,6011,5701,6151,6171,6151,6021,4601,4561,4581,5051,6041,6161,6241,6141,6051,604
122,749122,894122,656122,989122,801123,197
123,356123,812123,672123,871124,236124,304
125,100124,830124,916125,239125,180125,710
125,674125,838125,651125,893126,244126,204
126,283126,325126,441126,432126,602126,371
126,350126,469126,504126,423126,358126,761
126,355126,669126,710127,100126,717127,029
126,808126,620127,214127,122126,979127,223
115,798115,980115,789116,391116,014116,637
116,735116,967117,060117,305117,703117,797
118,429118,485118,727118,777118,809119,105
119,140119,323119,041119,252119,534119,563
119,704119,758119,975119,747120,013119,897
119,575119,425119,364119,201118,888119,093
118,592118,539118,294118,844118,188118,414
118,333118,100118,713118,481118,377118,332
121,000121,158120,920121,257121,087121,512
121,683122,120121,968122,184122,531122,608
123,404123,146123,232123,555123,507124,044
124,008124,150123,949124,184124,540124,504
124,586124,647124,772124,775124,963124,741
124,723124,829124,903124,853124,743125,144
124,740125,067125,250125,644125,259125,524
125,204125,004125,590125,508125,374125,619
114,049114,244114,053114,659114,300114,952
115,062115,275115,356115,618115,998116,101
116,733116,801117,043117,093117,136117,439
117,474117,635117,339117,543117,830117,863
118,007118,080118,306118,090118,374118,267
117,948117,785117,763117,631117,273117,476
116,977116,937116,834117,388116,730116,909
116,729116,484117,089116,867116,772116,728
3,2513,2073,1733,2273,1203,1113,0593,1163,1633,2253,2393,198
3,2993,2393,2003,1623,1223,075
3,2213,2723,2193,2063,1393,209
3,1693,1283,2223,1663,2793,263
3,1003,1363,1753,1823,1593,284
3,1943,2373,1243,1873,2563,2863,2443,2543,2833,2043,2723,183
110,798111,037110,880111,432111,180111,841
112,003112,159112,193112,393112,759112,903
113,434113,562113,843113,931114,014114,364
114,253114,363114,120114,337114,691114,654
114,838114,952115,084114,924115,095115,004
114,848114,649114,588114,449114,114114,192
113,783113,700113,710114,201113,474113,623
113,485113,230113,806113,663113,500113,545
6,9516,9146,8676,5986,7876,560
6,6216,8456,6126,5666,5336,507
6,6716,3456,1896,4626,3716,605
6,5346,5156,6106,6416,7106,641
6,5796,5676,4666,6856,5896,474
6,7757,0447,1407,2227,4707,668
7,7638,1308,4168,2568,5298,6158,4758,5208,5018,6418,6028,891
Unemploy-ment rate
Allwork-ers2
Civil-ian
work-ers3
Civil-ian
laborforce
£pationrate*
Civil-ianem-ploy-
ment/pop-ula-tion
ratio8
Percent
5.75.65.65.45.55.35.45.55.35.35.35.2
5.35.15.05.25.15.35.25.25.35.35.35.35.25.25.15.35'.25.15.45.65.65.75.96.06.16.46.66.56.76.86.76.76.76.86.87.0
5.75.75.75.45.65.45.45.65.45.45.35.35.45.25.05.25.25.3
5.35.25.35.35.45.35.35.35.25.45.35.25.45.65.75.86.06.16.26.56.76.66.86.96.86.86.86.96.97.1
65.865.965.765.865.765.865.966.165.966.066.166.1
66.566.366.366.466.366.666.566.566.466.566.666.566.566.566.566.566.566.4
66.366.366.366.266.166.366.066.166.266.366.166.266.065.866.166.065.865.9
62.062.161.962.262.062.362.362.462.462.562.662.662.962.963.062.962.963.063.063.062.862.963.063.063.063.063.162.963.063.062.762.662.562.462.162.261.961.861.762.061.661.661.561.361.661.461.361.2
6 Not strictly comparable with earlier data due to population adjustments as follows: Beginning 1953, introduction of 1950 censusdata added about 600,000 to population and 350,000 to labor force, total employment, and agricultural employment. Beginning 1960,inclusion of Alaska and Hawaii added about 500,000 to population, 300,000 to labor force, and 240,000 to nonagricultural employment.Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force and employment by 200,000.Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutional population and 333,000 to laborforce and employment. A subsequent adjustment based on 1970 census in March 1973 added 60,000 to labor force and to employment.Beginning 1978, changes in sampling and estimation procedures introduced into the household survey added about 250,000 to laborforce and to employment. Unemployment levels and rates were not significantly affected. Beginning 1986, the introduction of revisedpopulation controls added about 400,000 to the civilian population and labor force and 350,000 to civilian employment. Unemploymentlevels and rates were not significantly affected.
Note.—Labor force data in Tables B-30 through B-39 are based on household interviews and relate to the calendar week includingthe 12th of the month. For definitions of terms, area samples used, historical comparability of the data, comparability with other series,etc., see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
333Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-31.—Civilian employment and unemployment by sex and age, 1947-91
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year or month
194719481949195019511952. .1953195419551956195719581959 . .1960196119621963196419651966 .1967196819691970197119721973....197419751976197719781979.1980198119821983 .198419851986198719881989199019911990- Jan
FebMarApr«£yJuneJulyAugSeptOctNovDec
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Civilian employment
Total
57,03858,34357,65158,91859,96160,25061,17960,10962,17063,79964,07163,03664,63065,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,82499,303100,39799,526100,834105,005107,150109,597112,440114,968117,342117,914116,877118,007118,080118,306118,090118,374118,267117,948117,785117,763117,631117,273117,476116,977116,937116,834117,388116,730116,909116,729116,484117,089116,867116,772116,728
Males
Total
40,99541,72540,92541,57841,78041,68242,43041,61942,62143,37943,35742,42343,46643,90443,65644,17744,65745,47446,34046,91947,47948,11448,81848,99049,39050,89652,34953,02451,85753,13854,72856,47957,60757,18657,39756,27156,78759,09159,89160,89262,10763,27364,31564,43563,59364,52564,60064,65364,57364,64864,57364,33764,26564,33364,30564,19264,22263,81963,61163,56363,83663,52863,51463,42763,37863,76763,59763,57263,426
16-19years
2,2182,3442,1242,1862,1562,1072,1361,9852,0952,1642,1152,0122,1982,3612,3152,3622,4062,5872,9183,2533,1863,2553,4303,4093,4783,7654,0394,1033,8393,9474,1744,3364,3004,0853,8153,3793,3003,3223,3283,3233,3813,4923,4773,2372,8793,4213,3953,3933,3763,3203,2403,1533,0683,1603,1343,0943,1263,0513,0382,9662,8892,8902,8232,7562,7732,9242,8512,8082,754
20yearsandover
38,77639,38238,80339,39439,62639,57840,29639,63440,52641,21641,23940,41141,26741,54341,34241,81542,25142,88643,42243,66844,29444,85945,38845,58145,91247,13048,31048,92248,01849,19050,55552,14353,30853,10153,58252,89153,48755,76956,56257,56958,72659,78160,83761,19860,71461,10461,20561,26061,19761,32861,33361,18461,19761,17361,17161,09861,09660,76860,57360,59760,94760,63860,69160,67160,60560,84360,74660,76460,672
Females
Total
16,04516,61716,72317,34018,18118,56818,74918,49019,55120,41920,71420,61321,16421,87422,09022,52523,10523,83124,74825,97626,89327,80729,08429,68829,97631,25732,71533,76933,98935,61537,28939,56941,21742,11743,00043,25644,04745,91547,25948,70650,33451,69653,02753,47953,28453,48253,48053,65353,51753,72653,69453,61153,52053,43053,32653,08153,25453,15853,32653,27153.55253,20253,39553,30253,10653,32253,27053,20053,302
16-19years
1,6911,6821,5881,5171,6111,6121,5841,4901,5471,6541,6631,5701,6401,7681,7931,8331,8491,9292,1182,4682,4962,5262,6872,7352,7302,9803,2313,3453,2633,3893,5143,7343,7833,6253,4113,1703,0433,1223,1053,1493,2603,3133,2823,0242,7493,1923,1363,2333,1003,0683,0633,0212,8952,9852,9062,8462,8582,8302,8882,8632,8632,7782,7562,6212,5642,6832,7062,7262,689
20yearsandover
14,35414,93615,13715,82416,57016,95817,16417,00018,00218,76719,05219,04319,52420,10520,29620,69321,25721,90322,63023,51024,39725,28126,39726,95227,24628,27629,48430,42430,72632,22633,77535,83637,43438,49239,59040,08641,00442,79344,15445,55647,07448,38349,74550,45550,53550,29050,34450,42050,41750,65850,63150,59050,62550,44550,42050,23550,39650,32850,43850,40850,68950,42450,63950,68150,54250,63950,56450,47450,613
Unemployment
Total
2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4256,7016,5286,8748,4266,5796,5676,4666,6856,5896,4746,7757,0447,1407,2227,4707,6687,7638,1308,4168,2568,5298,6158,4758,5208,5018,6418,6028,891
Males
Total
1,6921,5592,5722,2391,2211,1851,2022,3441,8541,7111,8413,0982,4202,4862,9972,4232,4722,2051,9141,5511,5081,4191,4032,2382,7892,6592,2752,7144,4424,0363,6673,1423,1204,2674,5776,1796,2604,7444,5214,5304,1013,6553,5253,7994,8173,6303,5533,4973,6573,6273,5943,7523,9043,9564,0414,2064,3464,3374,6844,8584,7304,8954,9664,9524,8914,9554,8944,8454,990
16-19years
270256353318191205184310274269300416398426479408501487479432448426440599693711653757966939874813811913962
1,0901,003812806779732667658629709632620588631613581610656641650654674689674752695752751727680712679695700
20yearsandover
1,4221,3052,2191,9221,029980
1,0192,0351,5801,4421,5412,6812,0222,0602,5182,0161,9711,7181,4351,1201,060993963
1,6382,0971,9481,6241,9573,4763,0982,7942,3282,3083,3533,6155,0895,2573,9323,7153,7513,3692,9872,8673,1704,1092,9982,9332,9093,0263,0143,0133,1423,2483,3153,3913,5523,6723,6484,0104,1064,0354,1434,2154,2254,2114,2434,2154,1504,290
Females
Total
619717
1,0651,049834698632
1,188998
1,0391,0181,5041,3201,3661,7171,4881,5981,5811,4521,3241,4681,3971,4291,8552,2272,2222,0892,4413,4863,3693,3243,0613,0183,3703,6964,4994,4573,7943,7913,7073,3243,0463,0033,0753,6092,9493,0142,9693,0282,9622,8803,0233,1403,1843,1813,2643,3223,4263,4463,5583,5263,6343,6493,5233,6293,5463,7473,7573,901
16-19years
144153223195145140123191176209197262256286349313383385395405391412413506568598583665802780789769743755800886825687661675616558536519581502531528503532498503526510532539530616566570585566560605570535615576605
20yearsandover
475564841854689559510997823832821
1,2421,0631,0801,3681,1751,2161,1951,056921
1,078985
1,0151,3491,6581,6251,5071,7772,6842,5882,5352,2922,2762,6152,8953,6133,6323,1073,1293,0322,7092,4872,4672,5553,0282,4472,4832,4412,5252,4302,3822,5202,6142,6742,6492,7252,7922,8102,8802,9882,9413,0683,0892,9183,0593,0113,1323,1813,296
Note.—See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
334Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-32.—Civilian employment by demographic characteristic, 1954-91
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year ormonth
195419551956195719581959
I960196119621963196419651966..196719681969
1970197119721973197419751976197719781979
19801981.. .198219831984....19851986198719881989
19901991
1990: JanFebMarAprMayJune
JulyAugSeptOctNovDec
1991: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allcivilianworkers
60,10962,17063,79964,07163,03664,630
65,77865,74666,70267,76269,30571,08872,89574,37275,92077,902
78,67879,36782,15385,06486,79485,84688,75292,01796,04898,824
99,303100,39799,526100,834105,005107,150109,597112,440114,968117,342
117,914116,877
118,007118,080118,306118,090118,374118,267
117,948117,785117,763117,631117,273117,476
116,977116,937116,834117,388116,730116,909
116,729116,484117,089116,867116,772116,728
White
Total
53,95755,83357,26957,46556,61358,006
58,85058,91359,69860,62261,92263,44665,02166,36167,75069,518
70,21770,87873,37075,70877,18476,41178,85381,70084,93687,259
87,71588,70987,90388,89392,12093,73695,66097,78999,812101,584
102,087101,039
102,191102,163102,333102,108102,368102,352
102,215102,099102,082101,877101,517101,704
101,204101,184101,027101,504101,033101,050
100,792100,716101,053101,067100,977100,828
Males
37,84638,71939,36839,34938,59139,494
39,75539,58840,01640,42841,11541,84442,33142,83343,41144,048
44,17844,59545,94447,08547,67446,69747,77549,15050,54451,452
51,12751,31550,28750,62152,46253,04653,78554,64755,55056,352
56,43255,557
56,60856,59056,64456,49456,53756,506
56,39556,34456,36856,31056,20056,151
55,80055,59555,53355,79355,61655,470
55,40755,40355,61255,53055,53055,364
Fe-males
16,11117,11417,90118,11618,02218,512
19,09519,32519,68220,19420,80721,60222,69023,52824,33925,470
26,03926,28327,42628,62329,51129,71431,07832,55034,39235,807
36,58737,39437,61538,27239,65940,69041,87643,14244,26245,232
45,65445,482
45,58345,57345,68945,61445,83145,846
45,82045,75545,71445,56745,31745,553
45,40445,58945,49445,71145,41745,580
45,38545,31345,44145,53745,44745,464
Bothsexes16-19
3,0783,2253,3893,3743,2163,475
3,7003,6933,7743,8514,0764,5625,1765,1145,1955,508
5,5715,6706,1736,6236,7966,4876,7247,0687,3677,356
7,0216,5885,9845,7995,8365,7685,7925,8986,0305,946
5,5184,989
5,7685,7205,7855,6785,6255,565
5,4495,2995,4045,3355,2695,317
5,2305,2655,1315,1024,9974,921
4,7124,7854,9734,9594,9284,856
Black and other
Total
6,1526,3416,5346,6046,4236,623
6,9286,8337,0037,1407,3837,6437,8778,0118,1698,384
8,4648,4888,7839,3569,6109,4359,89910,31711,11211,565
11,58811,68811,62411,94112,88513,41413,93714,65215,15615,757
15,82715,838
15,82415,93115,97615,98816,00115,877
15,66715,72015,63415,78215,77315,764
15,78315,76715,82815,88815,68115,832
- 15,90215,82316,00415,83615,81315,909
Males
3,7733,9044,0134,0063,8333,971
4,1494,0684,1604,2294,3594,4964,5884,6464,7024,770
4,8134,7964,9525,2655,3525,1615,3635,5795,9366,156
6,0596,0835,9836,1666,6296,8457,1077,4597,7227,963
8,0038,036
7,9168,0168,0328,0708,0948,022
7,9587,9457,9007,9988,0268,052
8,0268,0218,0638,0387,8928,015
8,0538,0158,0928,0808,0738,066
Fe-males
2,3792,4372,5212,5982,5902,652
2,7792,7652,8432,9113,0243,1473,2893,3653,4673,614
3,6503,6923,8324,0924,2584,2754,5364,7395,1775,409
5,5295,6065,6415,7756,2566,5696,8307,1927,4347,795
7,8257,802
7,9087,9157,9447,9187,9077,855
7,7097,7757,7347,7847,7477,712
7,7577,7467,7657,8507,7897,817
7,8497,8087,9127,7567,7407,843
Bothsexes16-19
396418430407365362
430414420404440474545568584609
574538573647652615611619703727
689637565543607666681742774813
743639
855806813807755737
691685707704689668
678662677661661659
649588606604629604
Black
Total
7,8028,1288,2037,8948,2278,5409,1029,359
9,3139,3559,1899,37510,11910,50110,81411,30911,65811,953
11,96611,863
11,98012,03412,07512,09512,15212,056
11,88011,85311,84511,92111,89711,821
11,86811,84511,90911,93911,74811,851
11,90311,81412,04311,83411,77911,841
Males
4,3684,5274,5274,2754,4044,5654,7964,923
4,7984,7944,6374,7535,1245,2705,4285,6615,8245,928
5,9155,880
5,8615,9225,9285,9485,9705,970
5,8945,8705,8725,9105,9165,911
5,8695,8865,9125,8925,7425,857
5,8805,8375,9535,9165,9065,906
Fe-males
3,4333,6013,6773,6183,8233,9754,3074,436
4,5154,5614,5524,6224,9955,2315,3865,6485,8346,025
6,0515,983
6,1196,1126,1476,1476,1826,086
5,9865,9835,9736,0115,9815,910
5,9995,9595,9976,0476,0065,994
6,0235,9776,0905,9185,8735,935
Bothsexes16-19
509570554507508508571579
547505428416474532536587601625
573474
667609630627585558
531522552554540502
518498505490495486
474418465445456446
Note.—See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
335Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-33.—Unemployment by demographic characteristic, 1954-91
[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]
Year ormonth
195419551956195719581959
196019611962196319641965..1966196719681969
1970197119721973197419751976197719781979
19801981198219831984.19851986198719881989
19901991
1990: JanFebMar
May"!!"June
JulyAugSeptOctNovDec
1991: JanFebMarAprMayJune
{u'yAugSeptOctNovDec
Allcivilianworkers
3,5322,8522,7502,8594,6023,740
3,8524,7143,9114,0703,7863,3662,8752,9752,8172,832
4,0935,0164,8824,3655,1567,9297,4066,9916,2026,137
7,6378,27310,67810,7178,5398,3128,2377,4256,7016,528
6,8748,426
6,5796,5676,4666,6856,5896,474
6,7757,0447,1407,2227,4707,668
7,7638,1308,4168,2568,5298,615
8,4758,5208,5018,6418,6028,891
White
Total
2,8592,2522,1592,2893,6802,946
3,0653,7433,0523,2082,9992,6912,2552,3382,2262,260
3,3394,0853,9063,4424,0976,4215,9145,4414,6984,664
5,8846,3438,2418,1286,3726,1916,1405,5014,9444,770
5,0916,447
4,8714,9054,8255,0054,8914,794
4,9645,1915,2545,3445,4895,694
5,9096,2156,4976,2226,4866,608
6,5906,5046,5406,5656,6226,818
Males
1,9131,4781,3661,4772,4891,9031,9882,3981,9151,9761,7791,5561,2411,2081,1421,137
1,8572,3092,1731,8362,1693,6273,2582,8832,4112,405
3,3453,5804,8464,8593,6003,4263,4333,1322,7662,636
2,8663,775
2,7202,7092,6712,7972,7512,684
2,7912,9362,9433,0303,1443,315
3,3913,6653,8523,6453,7863,860
3,9323,8183,9403,8453,8333,890
Fe-males
946774793812
1,1911,043
1,0771,3451,1371,2321,2201,1351,0141,1301,0841,123
1,4821,7771,7331,6061,9272,7942,6562,5582,2872,260
2,5402,7623,3953,2702,7722,7652,7082,3692,1772,135
2,2252,672
2,1512,1962,1542,2082,1402,110
2,1732,2552,3112,3142,3452,379
2,5182,5502,6452,5772,7002,748
2,6582,6862,6002,7202,7892,928
Bothsexes16-19
423373382401541525
575669580708708705651635644660
8711,0111,021955
1,1041,4131,3641,2841,1891,193
1,2911,3741,5341,3871,1161,0741,070995910863
856977
852873854854851772
829880890885864879
988914984950
1,0221,013
1,035926923969987
1,016
Black and other
Total
673601591570923793
788971861863787678622638590571
754930977924
1,0581,5071,4921,5501,5051,473
1,7521,9302,4372,5882,1672,1212,0971,9241,7571,757
1,7831,979
1,7641,6551,6721,6371,6681,671
1,8061,8321,9051,8661,9641,964
1,9151,8951,9611,9872,0072,002
1,8901,9851,9952,0651,9622,068
Males
431376345364610517
498599509496426360310300277267
380481486440544815779784731714
922997
1,3341,4011,1441,0951,097969888889
9331,043
963846866840849886
958944
1,028988
1,0471,014
1,0071,0201,0491,0621,0761,079
1,0221,0491,0451,023994
1,080
Fe-males
242225246206313276
290372352367361318312338313304
374450491484514692713766774759
830933
1,1041,1871,0221,026999955869868
850936
801809806797819785
848888877878917950
908875912925931923
868936950
1,042968988
Bothsexes16-19
79779596138128
138159142176165171186203194193
235249288280318355355379394362
377388443441384394383353316331
292313
283272272269289291
288302272302332325
319323343319293283
303319335331288291
Black
Total
906846965
1,3691,3341,3931,3301,319
1,5531,7312,1422,2721,9141,8641,8401,6841,5471,544
1,5271,679
1,5361,4491,4481,4221,4281,412
1,5231,5681,6341,5881,6611,665
1,6341,5991,6761,7051,7211,725
1,6111,6741,6881,7361,6471,718
Males
448395494741698698641636
815891
1,1671,2131,003951946826771773
793874
832725740723718728
807813876849879851
855858883908912926
863871884841814871
Fe-males
458451470629637695690683
738840975
1,059911913894858776772
734805
704724708699710684
716755758739782814
779741793797809799
748803804895833847
Bothsexes16-19
279262297330330354360333
343357396392353357347312288300
258270
250247242235256257
251274240260297287
283273303283257250
252265292284247251
Note.—See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
336Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-34.—Labor force participation rate and employment/population ratio, 1948-91
[Percent; monthly data seasonally adjusted]
Year or month
19481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970...19711972197319741975197619771978197919801981.. .198219831984198519861987....1988198919901991.. .1990: Jan
FebMar
May'"""'.!JuneJulyAugSeptOctNovDec
1991: JanFebMar
fc=JuneJulyAugSeptOctNovDec
Labor force participation rate
Total1
59.760.160.059.759.660.060.760.360.159.960.060.059.559.359.459.559.860.260.360.861.060.760.961.361.761.662.062.663.564.064.164.264.364.464.765.165.665.966.266.866.666.366.866.866.866.866.866.666.666.666.666.566.466.566.366.466.466.666.466.466.266.166.366.266.166.2
Civilian2
Total
58.858.959.259.259.058.958.859.360.059.659.559.359.459.358.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.966.566.466.066.566.566.566.566.566.466.366.366.366.266.166.366.066.166.266.366.166.266.065.866.166.065.865.9
Males
86.686.486.486.386.386.085.585.485.584.884.283.783.382.982.081.481.080.780.480.480.179.879.779.178.978.878.777.977.577.777.977.877.477.076.676.476.476.376.376.276.276.476.175.576.476.376.376.376.276.175.975.976.076.076.076.175.675.775.875.975.775.775.575.375.775.475.275.2
Fe-males
32.733.133.934.634.734.434.635.736.936.937.137.137.738.137.938.338.739.340.341.141.642.743.343.443.944.745.746.347.348.450.050.951.552.152.652.953.654.555.356.056.657.457.557.357.657.657.757.657.757.557.557.557.457.357.157.357.257.457.457.657.357.557.357.157.257.357.257.4
Bothsexes16-19years
52.552.251.852.251.350.248.348.950.949.647.446.747.546.946.145.244.545.748.248.448.349.449.949.751.953.754.854.054.556.057.857.956.755.454.153.553.954.554.754.755.355.953.751.755.254.855.654.954.553.552.952.153.352.952.352.853.053.053.052.352.051.550.449.551.551.751.451.1
White
58.258.759.459.158.958.758.858.858.358.258.258.458.759.259.359.960.260.160.460.861.461.561.862.563.363.964.164.364.364.364.665.065.565.866.266.766.866.666.966.966.966.966.966.866.866.866.866.766.566.766.566.766.766.866.666.766.566.366.566.566.466.4
Blackand
other
64.064.264.964.464.864.364.564.163.263.063.162.963.062.862.262.161.860.960.260.560.359.659.860.462.262.261.761.361.662.162.663.363.764.364.064.763.763.164.364.264.364.164.163.663.263.363.263.563.763.563.363.063.463.662.863.262.962.963.462.962.462.9
Black
.._.
60.259.858.859.059.861.561.461.060.861.061.562.262.963.363.863.864.263.362.663.963.663.863.763.963.362.962.963.163.263.362.962.962.563.163.362.462.962.562.363.362.561.762.3
Employment/population ratio
Total8
56.658.258.258.056.457.558.257.856.156.756.856.156.356.156.456.957.658.058.258.758.057.257.558.358.356.557.358.359.760.359.659.458.258.359.960.561.161.962.663.363.061.963.363.363.463.263.363.263.062.962.862.762.562.562.262.262.062.361.961.961.861.661.961.761.661.6
Civilian 4
Total
56.655.456.157.357.357.155.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.057.857.856.156.857.959.359.959.259.057.857.959.560.160.761.562.363.062.761.663.063.063.162.963.062.962.762.662.562.462.162.261.961.861.762.061.661.661.561.361.661.461.361.2
Mates
83.581.382.084.083.983.681.081.882.381.378.579.378.977.677.777.177.377.577.978.077.877.676.274.975.075.574.971.772.072.873.873.872.071.369.068.870.770.971.071.572.072.571.970.272.372.372.372.272.272.171.771.671.671.571.371.370.870.570.470.770.370.270.069.970.370.069.969.7
Fe-males
31.331.232.033.133.433.332.534.035.135.134.535.035.535.435.635.836.337.138.339.039.640.740.840.441.042.042.642.043.244.546.447.547.748.047.748.049.550.451.452.553.454.354.353.754.554.554.754.554.754.654.554.354.254.153.853.953.853.953.854.153.753.853.753.553.753.653.553.5
Bothsexes16-19years
47.745.245.547.946.946.442.343.545.343.939.939.940.539.139.437.437.338.942.142.242.243.442.341.343.545.946.043.344.246.148.348.546.644.641.541.543.744.444.645.546.847.545.442.147.146.647.646.846.245.744.943.544.944.243.543.943.343.843.242.742.241.740.440.142.241.941.841.2
White
55.256.557.356.855.355.955.955.355.455.355.556.056.857.257.458.057.556.857.458.258.356.757.558.660.060.660.060.058.858.960.561.061.562.363.163.863.662.663.963.863.963.763.963.863.763.663.563.463.163.262.962.862.762.962.662.662.462.362.562.462.462.2
Blackand
other
58.058.759.559.356.757.557.956.256.356.257.057.858.458.258.058.156.854.954.155.054.351.452.052.554.755.253.652.650.951.053.654.755.456.857.458.257.356.157.858.158.258.158.157.556.656.756.356.856.656.556.456.356.456.555.756.156.255.956.455.755.555.7
Black
""53J54.553.550.150.851.453.653.852.351.349.449.552.353.454.155.656.356.956.254.956.656.856.957.057.256.655.755.655.555.755.555.155.355.155.355.454.554.955.054.655.554.554.254.4
1 Labor force including resident Armed Forces as percent of noninstitutional population including resident Armed Forces.2 Civilian labor force as percent of civilian noninstitutional population in group specified.3 Employment including resident Armed Forces as percent of noninstitutional population including resident Armed Forces.4 Civilian employment as percent of civilian noninstitutional population in group specified.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
337Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-35.—Civilian labor force participation rate by demographic characteristic, 1954-91
[Percent;1 monthly data seasonally adjusted]
Year or month
1954 . ..195519561957195819591960196119621963196419651966196719681969197019711972
19721973197419751976197719781979198019811982198319841985198619871988198919901991 .1990: Jan
FebMar
May!!!!""!"JuneJulyAugSeptOctNovDec
1991: JanFebMar
fc: ::JuneJulyAugSeptOctNovDec
Allcivil-ian
work-ers
58.859.360.059.659.559.359.459.358.858.758.758.959.259.659.660.160.460.260.4
60.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.966.566.466.066.566.566.566.566.566.466.366.366.366.266.166.366.066.166.266.366.166.266.065.866.166.065.865.9
White
Total
58.258.759.459.158.958.758.858.858.358.258.258.458.759.259.359.960.260.160.4
60.460.861.461.561.862.563.363.964.164.364.364.364.665.065.565.866.266.766.866.666.966.966.966.966.966.866.866.866.866.766.566.766.566.766.766.866.666.766.566.366.566.566.466.4
Males
Total
85.685.485.684.884.383.883.483.082.181.581.180.880.680.680.480.280.079.679.6
79.679.479.478.778.478.578.678.678.277.977.477.177.177.076.976.876.977.176.976.477.277.277.177.177.076.876.776.876.876.876.876.976.576.576.676.676.576.476.476.276.576.276.276.0
16-19years
57.658.660.459.256.555.955.954.553.853.152.754.155.956.355.956.857.557.960.1
60.162.062.961.962.364.065.064.863.762.460.059.459.059.759.359.060.061.059.457.260.660.360.361.159.958.958.657.959.059.058.459.259.158.958.756.657.956.856.055.357.656.956.956.2
20yearsandover
87.887.587.686.986.686.386.085.784.984.484.283.983.683.583.283.082.882.382.0
82.081.681.480.780.380.280.180.179.879.579.278.978.778.578.578.478.378.578.377.878.678.578.578.378.378.278.278.378.278.278.278.277.877.878.078.278.077.977.977.777.977.777.677.4
Females
Total
33.334.535.735.735.836.036.536.936.737.237.538.139.240.140.741.842.642.643.2
43.244.145.245.946.948.049.450.551.251.952.452.753.354.155.055.756.457.257.557.457.457.457.557.557.657.657.657.657.657.457.157.457.357.657.557.757.457.757.357.257.257.557.457.6
16-19years
40.640.743.142.240.139.640.340.639.838.737.839.242.642.543.044.645.645.448.1
48.150.151.751.552.854.556.757.456.255.455.054.555.455.256.356.557.257.155.454.356.556.757.955.856.255.254.854.055.454.553.754.455.355.454.756.154.454.351.852.053.354.854.754.8
20yearsandover
32.734.035.135.235.535.636.236.636.537.037.538.038.839.840.441.542.242.342.7
42.743.544.445.346.247.348.749.850.651.552.252.553.154.054.955.656.357.257.657.757.557.557.557.657.757.757.857.857.757.657.357.657.557.757.757.857.757.957.757.657.557.657.657.8
Black and other or black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20
Wover
Black and other
64.064.264.964.464.864.364.564.163.263.063.162.963.062.862.262.161.860.960.2
85.285.185.184.284.183.483.082.280.880.280.179.679.078.577.776.976.574.973.9
61.260.861.558.857.355.557.655.853.551.549.951.351.451.149.749.647.444.746.0
87.187.887.887.087.186.786.285.584.283.984.183.783.382.982.281.481.480.078.6
46.146.147.347.148.047.748.248.348.048.148.648.649.449.549.349.849.549.248.8
31.032.736.333.231.928.232.932.833.132.631.729.533.535.234.834.634.131.232.3
47.747.548.448.649.849.849.950.149.649.950.751.151.651.651.452.051.851.851.2
Black
59.960.259.858.859.059.861.561.461.060.861.061.562.262.963.363.863.864.263.362.663.963.663.863.763.963.362.962.963.163.263.362.962.962.563.163.362.462.962.562.363.362.561.762.3
73.673.472.970.970.070.671.571.370.370.070.170.670.870.871.271.171.071.070.169.570.469.970.070.070.070.070.069.770.370.470.670.269.769.870.370.368.669.969.368.970.169.268.769.2
46.345.746.742.641.343.244.943.643.241.639.839.941.744.643.743.643.844.640.637.445.341.843.142.141.138.538.838.639.139.640.738.537.736.939.738.636.438.735.436.540.936.835.136.3
78.578.477.676.075.475.676.276.375.174.574.775.274.874.474.874.774.674.473.873.473.673.573.473.573.774.073.873.674.274.274.474.173.673.874.074.172.673.773.472.873.673.072.773.0
48.749.349.048.849.850.853.153.153.153.553.754.255.256.556.958.058.058.757.857.058.558.658.758.558.957.757.157.357.257.357.356.957.356.657.357.757.457.156.956.957.857.056,156.6
32.234.233.434.232.932.937.336.834.934.033.533.035.037.939.139.637.940.436.733.539.236.438.038.037.137.534.335.835.136.837.035.537.836.137.135.134.231.233.828.831.733.232.430.7
51.251.651.451.152.553.655.555.455.656.056.256.857.658.658.960.060.160.660.059.360.560.960.860.661.159.859.459.559.459.459.459.159.358.659.359.959.759.759.159.660.359.358.359.1
1 Civilian labor force as percent of civilian noninstitutional population in group specified.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
338Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-36.—Civilian employment/population ratio by demographic characteristic, 1954-91
[Percent;1 monthly data seasonally adjusted]
Year or month
1954195519561957...19581959...I96019611962....19631964196519661967196819691970...19711972 .
19721973...19741975 . .19761977..19781979..1980...1981198219831984... .1985198619871988...19891990 ...19911990: Jan .
FebMar
MayJuneJulyAUKsept. :::::OctNovDec
1991: JanFebMar
June".'.'."!'.!'.!JulyAugSeptOctNovDec
Allcivil-ian
work-ers
55.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.0
57.057.857.856.156.857.959.359.959.259.057.857.959.560.160.761.562.363.062.761.663.063.063.162.963.062.962.762.662.562.462.162.261.961.861.762.061.661.661.561.361.661.461.361.2
White
Total
55.256.557.356.855.355.955.955.355.455.355.556.056.857.257.458.057.556.857.4
57.458.258.356.757.558.660.060.660.060.058.858.960.561.061.562.363.163.863.662.663.963.863.963.763.963.863.763.663.563.463.163.262.962.862.762.962.662.662.462.362.562.462.462.2
Males
Total
81.582.282.781.879.279.979.478.278.477.777.877.978.378.478.378.276.875.776.0
76.076.575.973.073.474.175.075.173.472.870.670.472.172.372.372.773.273.773.271.573.773.673.773.473.473.373.173.073.072.972.772.672.171.871.771.971.771.471.371.271.571.371.271.0
16-19years
49.952.054.152.447.648.148.145.946.444.745.047.150.150.250.351.149.649.251.5
51.554.354.450.651.554.456.355.753.451.347.047.449.149.949.649.951.752.651.047.252.452.352.552.751.851.450.249.049.950.049.550.149.549.548.147.147.146.045.145.947.947.347.046.1
20yearsandover
84.084.785.084.181.882.882.481.481.581.181.381.581.781.781.681.480.179.079.0
79.079.278.675.776.076.577.277.375.675.173.072.674.374.374.374.775.175.475.073.375.475.375.475.175.175.074.974.974.874.774.574.373.873.573.473.873.573.373.273.173.273.173.072.8
Females
Total
31.433.034.234.233.634.034.634.534.735.035.536.237.538.338.940.140.339.940.7
40.741.842.442.043.244.546.347.547.848.348.148.549.850.751.752.853.854.654.854.354.854.854.954.855.055.055.054.954.854.654.354.554.354.554.454.654.254.454.154.054.154.254.154.1
16-19years
36.437.038.938.235.034.835.134.634.832.932.233.737.537.737.839.539.538.641.3
41.343.644.342.544.245.948.549.447.946.244.644.547.047.147.949.050.250.548.546.149.649.350.649.049.148.748.246.948.347.346.847.446.747.947.147.946.146.143.344.045.746.146.045.7
20yearsandover
31.132.733.833.933.534.034.534.534.735.235.836.537.538.339.140.140.440.140.6
40.641.642.241.943.144.446.147.347.848.548.448.950.051.052.053.154.054.955.254.855.255.255.255.255.555.555.555.455.255.154.855.054.855.054.955.154.855.054.954.754.754.854.654.6
Black and other or black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
Black and other
58.058.759.559.356.757.557.956.256.356.257.057.858.458.258.058.156.854.954.1
76.577.678.477.272.573.874.171.772.071.872.973.774.073.873.372.870.968.167.3
52.452.752.248.042.041.443.841.041.737.437.839.440.538.838.739.035.531.832.4
79.280.481.380.576.077.677.975.575.776.277.778.779.279.478.978.476.874.273.2
41.942.243.043.742.843.243.642.642.742.743.444.145.145.045.245.944.943.943.3
24.726.428.026.522.820.324.823.223.121.321.820.223.124.824.725.122.420.219.9
20yearsandover
43.743.944.745.545.045.745.844.844.945.246.147.348.247.948.248.948.247.346.7
Black
53.754.553.550.150.851.453.653.852.351.349.449.552.353.454.155.656.356.956.254.956.656.856.957.057.256.655.755.655.555.755.555.155.355.155.355.454.554.955.054.655.554.554.254.4
66.867.565.860.660.661.463.363.460.459.156.056.359.260.060.662.062.762.861.860.561.762.262.262.462.562.461.561.261.261.561.561.360.861.061.260.959.260.360.559.961.160.660.460.3
31.632.831.426.325.826.428.528.727.024.620.320.423.926.326.528.529.430.427.623.831.929.530.330.128.225.225.824.626.927.027.024.224.423.724.824.023.124.623.923.124.323.522.423.4
73.073.771.966.566.867.569.169.165.864.561.461.664.164.665.166.467.167.066.164.965.566.566.266.566.867.166.065.865.465.865.865.965.365.565.565.363.764.764.864.365.465.064.964.6
43.043.843.541.642.843.345.846.045.745.144.244.146.748.148.850.351.252.051.650.352.552.452.652.552.851.951.050.950.851.050.750.050.750.350.651.050.650.450.650.251.049.549.149.6
19.222.020.920.219.218.522.122.421.019.717.717.020.123.123.825.825.827.125.721.429.626.228.228.126.226.823.824.224.825.023.122.824.423.523.222.723.421.621.316.920.319.221.419.5
46.547.246.944.946.447.049.349.349.148.547.547.449.850.951.653.053.954.654.253.154.855.155.155.055.554.553.853.653.453.653.552.853.453.053.353.853.253.253.453.454.052.551.852.4
1 Civilian employment as percent of civilian noninstitutional population in group specified.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
339Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-37 .—Unemployment rate, 1948-91
[Percent; monthly data seasonally adjusted]
Year ormonth
1948194919501951195219531954195519561957 .19581959196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911990: Jan
FebMar
May"!!!!June....JulyAugSept....OctNovDec
1991: JanFebMar
fcJune....JulyAugSept....OctNovDec
Unem-ploy-mentrate,all
work-ers1
5.23.22.92.85.44.34.04.26.65.35.46.55.45.55.04.43.73.73.53.44.85.85.54.85.58.37.66.96.05.87.07.59.59.57.47.16.96.15.45.25.46.65.25.25.15.35.25.15.45.65.65.75.96.06.16.46.66.56.76.86.76.76.76.86.87.0
Unemployment rate, civilian workers 2
Allcivil-ian
work-ers
3.85.95.33.33.02.95.54.44.14.36.85.55.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.75.35.35.25.45.35.25.45.65.75.86.06.16.26.56.76.66.86.96.86.86.86.96.97.1
Males
Total
3.65.95.12.82.82.85.34.23.84.16.85.25.46.45.25.24.64.03.23.12.92.84.45.35.04.24.97.97.16.35.35.16.97.49.99.97.47.06.96.25.55.25.67.05.35.25.15.45.35.35.55.75.85.96.16.36.46.97.16.97.27.37.27.27.27.17.17.3
16-19
years
9.814.312.78.18.97.9
13.511.611.112.417.115.315.317.114.717.215.814.111.712.311.611.415.016.615.913.915.620.119.217.315.815.918.320.124.423.319.619.519.017.816.015.916.319.815.615.414.815.715.615.216.217.616.917.217.417.718.418.220.219.420.621.020.919.719.619.219.820.3
20yearsandover
3.25.44.72.52.42.54.93.83.43.66.24.74.75.74.64.53.93.22.52.32.22.13.54.44.03.33.86.85.95.24.34.25.96.38.88.96.66.26.15.44.84.54.96.34.74.64.54.74.74.74.95.05.15.35.55.75.76.26.36.26.46.56.56.56.56.56.46.6
Females
Total
4.16.05.74.43.63.36.04.94.84.76.85.95.97.26.26.56.25.54.85.24.84.75.96.96.66.06.79.38.68.27.26.87.47.99.49.27.67.47.16.25.65.45.46.35.25.35.25.45.25.15.35.55.65.65.85.96.16.16.36.26.46.46.26.46.26.66.66.8
16-19
years
8.312.311.48.38.07.2
11.410.211.210.614.313.513.916.314.617.216.615.714.113.514.013.315.617.216.715.316.619.718.718.317.116.417.219.021.921.318.017.617.615.914.414.014.717.413.614.514.014.014.814.014.315.414.615.515.915.617.916.416.617.016.916.918.818.216.618.517.418.4
20yearsandover
3.65.35.14.03.22.95.54.44.24.16.15.25.16.35.45.45.24.53.84.23.83.74.85.75.44.95.58.07.47.06.05.76.46.88.38.16.86.66.25.44.94.74.85.74.64.74.64.84.64.54.74.95.05.05.15.25.35.45.65.55.75.75.45.75.65.85.96.1
Bothsexes16-19
years
9.213.412.28.28.57.6
12.611.011.111.615.914.614.716.814.717.216.214.812.812.912.712.215.316.916.214.516.019.919.017.816.416.117.819.623.222.418.918.618.316.915.315.015.518.614.615.014.414.915.214.615.316.515.816.416.716.818.217.318.518.218.919.019.919.018.218.918.719.3
White
3.55.64.93.12.82.75.03.93.63.86.14.85.06.04.95.04.64.13.43.43.23.14.55.45.14.35.07.87.06.25.25.16.36.78.68.46.56.26.05.34.74.54.76.04.54.64.54.74.64.54.64.84.95.05.15.35.55.86.05.86.06.16.16.16.16.16.26.3
Blackand
other
5.98.99.05.35.44.59.98.78.37.9
12.610.710.212.410.910.89.68.17.37.46.76.48.29.9
10.09.09.9
13.813.113.111.911.313.114.217.317.814.413.713.111.610.410.010.111.110.09.49.59.39.49.5
10.310.410.910.611.111.110.810.711.011.111.311.210.611.111.111.511.011.5
Black
:!!! !!! !!
"10.4"9.4
10.514.814.014.012.812.314.315.618.919.515.915.114.513.011.711.411.312.411.410.710.710.510.510.511.411.712.111.812.312.312.111.912.312.512.812.711.912.412.312.812.312.7
Experi-encedwageand
salaryworkers
436.86.03.7343.26.24.84.44.67.35.75.76.85.65.65.04.33.53.63.43.34.85.75.34.55.38.27.36.65.65.56.97.39.39.27.16.86.65.85.25.05.36.55.15.05.05.15.05.05.25.35.55.55.85.96.06.36.66.36.56.66.46.56.56.66.76.8
Mar-riedmen,
spousepres-ent3
3.54.61.5141.74.02.62.32.85.13.63.74.63.63.42.82.41.91.81.61.52.63.22.82.32.75.14.23.62.82.84.24.36.56.54.64.34.43.93.33.03.44.43.43.13.13.23.23.13.43.53.53.63.83.84.04.24.44.34.44.64.44.44.54.24.54.7
Womenwho
main-tain
fami-lies
I! !!!!!!
4.94.44.45.47.37.27.17.0
10.010.19.48.58.39.2
10.411.712.210.310.49.89.28.18.18.29.17.67.68.47.57.68.08.48.38.88.58.88.89.09.19.19.69.29.18.59.49.09.49.19.1
1 Unemployed as percent of labor force including resident Armed Forces.2 Unemployed as percent of civilian labor force m group specified.3 Data For 1949 and 1951-54 are for April; 1950, for March.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
340Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-38.—Civilian unemployment rate by demographic characteristic, 2948-91
[Percent;l monthly data seasonally adjusted]
Year or month
19481949.. .1950195119521953195419551956..195719581959I96019611962196319641965..19661967.196819691970....19711972...
1972197319741975....1976197719781979198019811982198319841985.1986198719881989199019911990: Jan
FebMarAprMayJuneJulyAugSeptoct'::::::::::::::::Nov.Dec
1991- JanFebMar .AprNfayJuneJulyAug.,;.:::.:.::::'::Septoct'::::::::::::::::::NovDec
Allcivil-ian
work-ers
3.85.95.33.33.02.95.54.44.14.36.85.55.56.75.55.75.24.53.83.83.63.54.95.95.6
5.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.25.55.35.56.75.35.35.25.45.35.25.45.65.75.86.06.16.26.56.76.66.86.96.86.86.86.96.97.1
White
Total
3.55.64.93.12.82.75.03.93.63.86.14.85.06.04.95.04.64.13.43.43.23.14.55.45.1
5.14.35.07.87.06.25.25.16.36.78.68.46.56.26.05.34.74.54.76.04.54.64.54.74.64.54.64.84.95.05.15.35.55.86.05.86.06.16.16.16.16.16.26.3
Males
Total
3.45.64.72.62.52.54.83.73.43.66.14.64.85.74.64.74.13.62.82.72.62.54.04.94.5
4.53.84.47.26.45.54.64.56.16.58.88.86.46.16.05.44.74.54.86.44.64.64.54.74.64.54.75.05.05.15.35.65.76.26.56.16.46.56.66.46.66.56.56.6
16-19years
i'3.411.310.511.515.714.014.015.713.715.914.712.910.510.710.110.013.715.114.2
14.212.313.518.317.315.013.513.916.217.921.720.216.816.516.315.513.913.714.217.513.513.413.013.813.612.614.315.315.415.215.315.316.115.918.216.818.719.019.416.916.916.917.418.0
20yearsandover
4.43.33.03.25.54.14.25.14.03.93.42.92.22.12.01.93.24.03.6
3.63.03.56.25.44.73.73.65.35.67.87.95.75.45.34.84.13.94.35.74.04.04.04.24.14.14.24.44.44.54.75.05.15.65.85.65.75.85.95.96.15.95.96.0
Females
Total
3.857534.233315.54.34.24.36.25.35.36.55.55.85.55.04.34.64.34.25.46.35.9
5.95.36.18.67.97.36.25.96.56.98.37.96.56.46.15.24.74.54.65.54.54.64.54.64.54.44.54.74.84.84.95.05.35.35.55.35.65.75.55.65.45.65.86.1
16-19years
10.49.19.79.5
12.712.012.714.812.815.114.914.012.111.512.111.513.415.114.2
14.213.014.517.416.415.914.414.014.816.619.018.315.214.814.913.412.311.512.615.212.213.112.812.212.711.712.013.112.813.112.712.915.613.613.814.515.215.116.515.514.315.815.916.6
20yearsandover
5.13.93.73.85.64.74.65.74.74.84.64.03.33.83.43.44.45.34.9
4.94.35.17.56.86.25.25.05.65.97.36.95.85.75.44.64.14.04.14.94.04.03.94.13.93.94.04.24.34.34.44.44.64.85.04.75.05.14.95.04.95.05.15.4
Black and other or black
Total
Males
Total 16-19years
20yearsandover
Females
Total 16-19years
20yearsandover
Black and other
5.98.99.05.35.44.59.98.78.37.9
12.610.710.212.410.910.89.68.17.37.46.76.48.29.9
10.0
5.89.69.44.95.24.8
10.38.87.98.3
13.711.510.712.810.910.58.97.46.36.05.65.37.39.18.9
14.413.415.018.426.825.224.026.822.027.324.323.321.323.922.121.425.028.829.7
9.98.47.47.6
12.710.59.6
11.710.09.27.76.04.94.33.93.75.67.36.9
6.179846.1574.19.28.58.97.3
10.89.49.4
11.911.011.210.79.28.79.18.37.89.3
10.911.4
20.619.222.820.228.427.724.829.230.234.731.631.731.329.628.727.634.535.438.4
8.47.77.86.49.58.38.3
10.69.69.49.07.56.67.16.35.86.98.78.8
Black
10.49.4
10.514.814.014.012.812.314.315.618.919.515.915.114.513.011.711.411.312.411.410.710.710.510.510.511.411.712.111.812.312.312.111.912.312.512.812.711.912.412.312.812.312.7
9.38.09.8
14.813.713.311.811.414.515.720.120.316.415.314.812.711.711.511.812.912.410.911.110.810.710.912.012.213.012.612.912.612.712.713.013.413.713.712.813.012.912.412.112.9
31.727.833.138.137.539.236.734.237.540.748.948.842.741.039.334.432.731.932.136.529.529.529.528.331.434.633.436.331.231.933.737.035.335.837.537.736.536.532.536.740.736.136.435.7
7.06.07.4
12.511.410.79.39.3
12.413.517.818.114.313.212.911.110.110.010.411.511.19.59.79.69.39.3
10.710.611.811.311.511.011.311.311.411.812.312.211.711.611.111.010.711.5
11.811.111.314.814.314.913.813.314.015.617.618.615.414.914.213.211.711.410.811.910.310.610.310.210.310.110.711.211.310.941.612.111.511.111.711.611.911.811.011.811.713.112.412.5
40.536.137.441.041.643.440.839.139.842.247.148.242.639.239.234.932.033.030.036.124.728.125.826.129.528.530.632.529.332.037.435.735.435.037.535.431.730.937.041.435.942.133.836.3
9.08.68.8
12.211.712.311.210.911.913.415.416.513.513.112.411.610.49.89.6
10.59.49.59.39.29.18.99.59.9
10.29.69.9
10.710.09.6
10.110.310.810.89.6
10.510.411.611.311.3
1 Unemployed as percent of civilian labor force in group specified.Note.—See Note, Table B-37.Source: Department of Labor, Bureau of Labor Statistics.
341Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-39.—Unemployment by duration and reason, 1947-91
[Thousands of persons, except as noted; monthly data seasonally adjusted1]
Year or month
194719481949195019511952195319541955195619571958195919601961196219631964196519661967219681969197019711972197319741975197619771978197919801981198219831984.1985....198619871988T.1989199019911990- Jan
FebMarAprMayJuneJulyAug :::::::::Septoc? ::::::....::.::.:::::::::::NovDec
1991- JanFebMarAprMay .JuneJulyAug:::::::: :::::::::":Septoct.:::::::::::.:::::::::::::::::NovDec
Unem-ploy-ment
2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4256,7016,5286,8748,4266,5796,5676,4666,6856,5896,4746,7757,0447,1407,2227,4707,6687,7638,1308,4168,2568,5298,6158,4758,5208,5018,6418,6028,891
Duration of unemployment
Lessthan 5weeks
1,21013001,7561,4501,1771,1351,1421,6051,3351,4121,4081,7531,5851,7191,8061,6631,7511,6971,6281 5731,6341,5941,6292,1392,2452,2422,2242,6042,9402,8442,9192,8652,9503,2953,4493,8833,5703,3503,4983,4483,2463,0843,1743,1693,3803,1203,1143,1473,1813,0383,0903,1423,3053,1143,1773,3163,3163,3923,4173,4583,2853,5963,4133,3703,3863,3443,3003,2893,307
5-14weeks
704669
1,1941,055574516482
1,116815805891
1,3961,1141,1761,3761,1341,2311,117983779893810827
1,2901,5851,4721,3141,5972,4842,1962,1321,9231,9462,4702,5393,3112,9372,4512,5092,5572,1962,0071,9782,2012,7242,0322,0492,0152,1232,1922,0542,1672,1282,4442,4012,3792,5622,5272,6942,8032,7082,7112,8162,7372,6862,7982,7742,7212,764
15-26weeks
234193428425166148132495366301321785469503728534535491404287271256242428668601483574
1,3031,018913766706
1,0521,1221,7081,6521,1041,0251,045943801730809
1,225773745712716768758800833872898965966
1,0071,0661,1991,1851,1881,3721,2341,2581,2601,4151,3001,372
27weeksandover
1641162563571378478317336232239667571454804585553482351239177156133235519566343381
1,2031,3481,028648535820
1,1621,7762,5591,6341,2801,1871,040809646695
1,098650636638671626639692731759711805808862919945995
1,0251,1161,1211,1591,1621,1551,3231,471
Average(mean)dura-tion
(weeks)
8.610.012.19.78.48.011.813.011.310.513.914.412.815.614.714.013.311.810.48.78.47.88.611.312.010.09.814.215.814.311.910.811.913.715.620.018.215.615.014.513.511.912.113.812.011.811.911.811.811.812.012.312.412.112.512.512.512.913.013.413.114.013.914.114.214.614.915.3
Mediandura-tion
(weeks)
4.54.44.96.36.25.25.28.48.27.05.95.46.56.98.710.17.96.86.96.55.94.85.46.95.15.35.05.05.35.25.35.36.05.95.85.95.96.36.56.96.66.96.87.27.47.47.77.8
Reason for unemployment
Joblosers
1,2291,0701,0171,8112,3232,1081,6942,2424,3863,6793,1662,5852,6353,9474,2676,2686,2584,4214,1394,0333,5663,0922,9833,3224,6083,1273,0783.0173,1013,1223,1393,1683,4073,5433,6363,8523,8804,0804,4744,5874,4564,5714,7484,6594,6904,8054,7824,6964,990
Jobleavers
438431436550590641683768827903909874880891923840830823877
1,015965983
1,0241,014979
1,0271,0151,0001,1691,000986
1,016994966979989
1,044914993
1,055993
1,0291,072987892946986987913
Reen-trants
945909965
1,2281,4721,4561,3401,4631,8921,9281,9631,8571,8061,9272,1022,3842,4122,1842,2562,1601,9741,8091,8431,8832,0871,7651,8261,8441,7951,8011,8251,9451,8651,9761,9191,9372,1122.0362.0102,0762.0592,1592,1202,0652,1072,0362,1002,1082,164
Newen-
trants
396407413504630677649681823895953885817872981
1,1851,2161,1101,0391,029920816677654753653685658637666548648677665673666666681649708741763742800773783813774811
1 Because of independent seasonal adjustment of the various series, detail will not add to totals.2 Data for 1967 by reason for unemployment are not strictly comparable with those for later years and the total by reason is notequal to total unemployment.
Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-30.Source: Department of Labor, Bureau of Labor Statistics.
342Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-40.—Unemployment insurance programs, selected data, 1960-91
Year or month
19601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 "
1990: JanFebMarAprSTay"":::JuneJulyAug : : : . " " : :Septoct :::::::::NovDec
1991- JanFebMar ..AprMay::::..:::::::::::::::::::JuneJulyAug::::::: :::::::::::::::::Sept ....oct ::Nov ..Dec p
All programs
Coveredemploy-ment1
Insuredunemploy-
ment(weeklyaver-
age)*'
Thousands
46,33446,26647,77648,43449,63751,58054,73956,34257,97759,99959,52659,37566,45869,89772,45171,03773,45976,41988,80492,06292,65993,30091,62891,89896,47499,186
101,099103,933107,157109,926
8 111,494
2,0712,9941,946
M.9731>531,4501,1291,2701,1871,1772,0702,6082,1921,7932,5584,9373,8463,3082,6452,5923,8373,4104,5943,7752,5612,6932,7462,4012,1352,2052,5753,408
3,1202,9892,8222,5932,3202,2092,4352,2872,1882,2852,5103,0404,0154,0904,0603,8643,2623,1773,2702,9992,7952,7952,8463,596
Totalbenefits
paid(millions
ofdollars) 2 4
3,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.64,209.36,154.05,491.14,517.36,933.9
16,802.412,344.810,998.99,006.99,401.3
16,175.415,287.123,774.820,206.213,109.615,056.316,292.514,501.013,694.414,957.019,640.2
1,883.51,676.11,759.61,540.31,502.31,297.11,427.91,462.41,207.21,439.81,524.91,782.82,585.92,430.72,575.32,586.32,329.11,939.22,196.71,959.71,727.01,884.51,729.52,298.7
State programs
Insuredunem-
ploymentInitialclaims
Exhaus-tions5
Weekly average; thousands
1,9082,2901,783
'1,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623,9862,9912,6552,3592,4343,3503,0474,0613,3962,4762,6112,6502,3322,0812,1582,5223,344**
2,4002,3862,3962,3842,3772,4192,4892,5202,5732,7042,8512,9773,1363,3033,4673,4903,4753,4063,3363,2833,2673,2733[3133,317
331350302
'298268232203226201200296295261247363478386375346388488460583438377396378328310330388449
**376365354350348355368374387419454470460498511460433421418415415418448462
3146323026211517161625393529378163553939595780805050524638374567
444243474544474442434349585762706869767266666270
Insuredunemploy-ment aspercent
ofcoveredemploy-
ment
4.85.64.44.33.83.02.32.52.22.13.44.13.52.73.56.04.63.93.32.93.93.54.63.92.82.92.82.42.02.12.4
**2.32.32.32.32.32.32.42.42.52.62.72.83.03.13.33.33.33.23.13.13.13.13.13.1
Benefits paid
Total(millions
ofdollars) 4
2,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.93,848.54,957.04,471.04,007.65,974.9
11,754.78,974.58,357.27,717.28,612.9
13,761.113,262.120,649.517,762.812,594.714,130.815,329.313,606.812,564.713,760.318,249.5
1,843.61,636.71,716.11,502.51,466.71,265.41,397.21,430.01,178.01,401.91,482.41,736.82,529.52,382.22,525.62,485.72,242.01,867.42,134.61,911.01,681.41,831.11,681.02,232.9
Averageweekfycheck
(dollars) •
32.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3454.0256.7659.0064.2570.2375.1678.7983.6789.6798.95
106.70119.37123.59123.47128.23135.72139.90144.97151.73161.56170.08
158.53160.44159.60162.02162.02161.91159.91160.46162.11163.89163.56165.25166.83169.51170.45170.01170.47170.49169.16169.02170.70171.27170.79173.29
"Monthly data are seasonally adjusted.1 Includes persons under the State, UCFE (Federal employee, effective January 1955), and RRB (Railroad Retirement Board) programs.Beginning October 1958, also includes the UCX program (unemployment compensation for ex-servicemen).
"Includes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January 1960), and SRA(Servicemen's Readjustment Act, September 1944-September 1951) programs. Also includes Federal and State extended benefitprograms. Does not include FSB (Federal supplemental benefits), SUA (special unemployment assistance), and Federal SupplementalCompensation programs.3 Covered workers who have completed at least 1 week of unemployment.4 Annual data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.6 For total unemployment only.7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning July 1963.8 Latest data available for all programs combined. Workers covered by State programs account for about 97 percent of wage andsalary earners.
Source: Department of Labor, Employment and Training Administration.
343Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—Employees on nonagricultural payrolls, by major industry, 1946-91
[Thousands of persons; monthly data seasonally adjusted]
Year or month
19461947194819491950195119521953195419551956195719581959I96019611962196319641965196619671968196919701971197219731974 .19751976 .197719781979198019811982198319841985198619871988198919901991 p
1990- JanFebMarAprMayJuneJulyAug. .SeptOctNovDec
1991- Jan....FebMarAprMayJuneJulyAugSeptOctNovp
Dec*
Total
41,65243,85744,86643,75445,19747,81948,79350,20248,99050,64152,36952,85351,32453,26854,18953,99955,54956,65358,28360,76563,90165,80367,89770,38470,88071,21473,67576,79078,26576,94579,38282,47186,69789,82390,40691,15689,56690,20094,49697,51999,525102,200105,536108,329109,971108,975109,416109,792109,933109,934110,304110,435110,269110,160110,113109,982109,761109,621109,418109,160108,902108,736108,887108,885108,859108,971109,066109,073108,808108,839
Goods-producing industries
Total
17,24818,50918,77417,56518,50619,95920,19821,07419,75120,51321,10420,96419,51320,41120,43419,85720,45120,64021,00521,92623,15823,30823,73724,36123,57822,93523,66824,89324,79422,60023,35224,34625,58526,46125,65825,49723,81323,33424,72724,85924,55824,70825,17325,32224,95823,82025,19025,33925,25525,16525,14125,09325,02724,93724,84224,70524,48124,37524,18124,03923,87723,79423,84723,79223,79823,82623,79723,72723,59523,572
Mining
862955994930901929898866791792822828751732712672650635634632627613606619623609628642697752779813851958
1,0271,1391,128952966927111717713693711697704706706709713718717713711710712715713715714710706704701693684679674670
Con-struction
1,6832,0092,1982,1942,3642,6372,6682,6592,6462,8393,0392,9622,8173,0042,9262,8592,9483,0103,0973,2323,3173,2483,3503,5753,5883,7043,8894,0974,0203,5253,5763,8514,2294,4634,3464,1883,9053,9484,3834,6734,8164,9675,1105,1875,1364,6965,2715,3225,2625,2025,2035,1825,1455,1115,0885,0224,9624,9114,7974,7924,7204,6884,7154,7104,6954,6914,6994,6714,5834,596
Manufacturing
Total
14,70315,54515,58214,44115,24116,39316,63217,54916,31416,88217,24317,17415,94516,67516,79616,32616,85316,99517,27418,06219,21419,44719,78120,16719,36718,62319,15120,15420,07718,32318,99719,68220,50521,04020,28520,17018,78118,43419,37819,26018,96519,02419,35019,44219,11118,42719,21519,31119,28719,25419,22519,19319,16519,11319,04318,97318,80718,74918,67118,53218,44318,39618,42618,37818,40218,44218,41418,37718,33818,306
Durablegoods
7,7858,3588,2987,4628,0669,0599,32010,0809,1019,5119,8029,8258,8019,3429.4299:0419,4509,5869,78510,37411,25011,40811,59411,86211,17610,60411,02211,86311,89710,66211,05111,57012,24512,73012,15912,08211,01410,70711,47911,46411,20311,16711,38111,42011,11510,55711,18511,28911,27011,23011,21211,18911,16011,11111,04911,00010,86710,82810,77010,65210,58410,56010,57510,53410,54610,55310,53110,49310,45910,425
Nondura-ble goods
6,9187,1877,2856,9797,1757,3347,3137,4687,2137,3707,4427,3517,1447,3337,3677,2857,4037,4107,4897,6887,9638,0398,1878,3048,1908,0198,1298,2918,1817,6617,9468,1128,2598,3108,1278,0897,7677,7267,8997,7967,7617,8587,9698,0227,9957,8708,0308,0228,0178,0248,0138,0048,0058,0027,9947,9737,9407,9217,9017,8807,8597,8367,8517,8447,8567,8897,8837,8847,8797,881
Note.—Data in Tables B-41 and B-42 are based on reports from employing establishments and relate to full- and part-time wage andsalary workers in nonagricultural establishments who received pav for any part of the pay period which includes the 12th of the month.Not comparable with labor force data (Tables B-30 through B-39), which include proprietors, self-employed persons, domestic servants,
See next page for continuation of table.
344Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-41.—Employees on nonagricultural payrolls, by major industry, 1946-91—Continued
[Thousands of persons; monthly data seasonally adjusted]
Year or month
194619471948194919501951195219531954195519561957..19581959I9601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 "1990: Jan
FebMarAprMayJuneJulyAugsept...:::::::::::::::::::::::::::::::;::::'"::OctNovDec
1991- JanFebMarAprMayJuneJulyAugSeptOct.::::::::::::::Nov"Dec "
Service-producing industries
Total
24,40425,34826,09226,18926,69127,86028,59529,12829,23930,12831,26631,88931,81132,85733,75534,14235,09836,01337,27838,83940,74342,49544,16046,02347,30248,27850,00751,89753,47154,34556,03058,12561,11363,36364,74865,65965,75366,86669,76972,66074,96777,49280,36383,00785,01485,15484,22684,45384,67884,76985,16385,34285,24285,22385,27185,27785,28085,24685,23785,12185,02584,94285,04085,09385,06185,14585,26985,34685,21385,267
Trans-portation
andpublicutilities
4,0614,1664,1894,0014,0344,2264,2484,2904,0844,1414,2444,2413,9764,0114,0043,9033,9063,9033,9514,0364,1584,2684,3184,4424,5154,4764,5414,6564,7254,5424,5824,7134,9235,1365,1465,1655,0824,9545,1595,2385,2555,3725,5275,6445,8265,8235,7765,7905,7945,7985,8205,8315,8325,8395,8545,8555,8525,8675,8665,8345,8245,8145,8195,8095,8095,8205,8295,8285,8195,796
Whole-saletrade
2,2982,4782,6122,6102,6432,7352,8212,8622,8752,9343,0273,0372,9893,0923,1533,1423,2073,2583,3473,4773,6083,7003,7913,9194,0064,0144,1274,2914,4474,4304,5624J234,9855,2215,2925,3765,2965,2865,5745,7365,7745,8656,0556,2216,2056,0726,2276,2156,2106,2066,2126,2206,2156,2116,2046,1906,1806,1666,1386,1196,1056,0866,0856,0686,0646,0506,0496,0476,0326,017
Retailtrade
6,0776,4776,6596,6546,7437,0077,1847,3857,3607,6017,8317,8487,7618,0358,2388,1958,3598,5208,8129,2399,6379,90610,30810,78511,03411,33811,82212,31512,53912,63013,19313,79214,55614,97215,01815,17215,16115,59516,52617,33617,90918,46219,07719,54919,68319,34019,69119,71819,70219,68919,70119,71419,71019,71419,69819,66319,62819,57919,54219,46419,37819,32419,33919,34519,34719,34319,33819,28819,19619,180
Finance,insur-ance,
and realestate
1,6751,7281,8001,8281,8881,9562,0352,1112,2002,2982,3892,4382,4812,5492,6282,6882,7542,8302,9112,9773,0583,1853,3373,5123,6453,7723,9084,0464,1484,1654,2714,4674,7244,9755,1605,2985,3415,4685,6895,9556,2836,5476,6496,6956,7396,7076,7176,7326,7306,7326,7396,7466,7456,7506,7506,7466,7406,7336,7366,7326,7356,7186,7126,7036,6886,6876,6926,6976,6926,696
Services
4,6975,0255,1815,2395,3565,5475,6995,8355,9696,2406,4976,7086,7657,0877,3787,6197,9828,2778,6609,0369,49810,04510,56711,16911,54811,79712,27612,85713,44113,89214,55115,30216,25217,11217,89018,61919,03619,69420,79721,99923,05324,23525,66927,12028,24028,77827,77827,91628,03628,04528,15128,25428,31028,38828,43728,47928,52528,54828,59028,58328,57628,57628,64528,71228,73328,83128,93729,01929,00929,047
Government
Total
5,5955,4745,6505,8566,0266,3896,6096,6456,7516,9147,2787,6167,8398,0838,3538,5948,8909,2259,59610,07410,78411,39111,83912,19512,55412,88113,33413,73214,17014,68614,87115,12715,67215,94716,24116,03115,83715,86916,02416,39416,69317,01017,38617,77918,32218,43418,03718,08218,20618,29918,54018,57718,43018,32118,32818,34418,35518,35318,36518,38918,40718,42418,44018,45618,42018,41418,42418,46718,46518,531
Federal
2,2541,8921,8631,9081,9282,3022,4202,3052,1882,1872,2092,2172,1912,2332,2702,2792,3402,3582,3482,3782,5642,7192,7372,7582,7312,6962,6842,6632,7242,7482,7332,7272,7532,7732,8662,7722,7392,7742,8072,8752,8992,9432,9712,9883,0852,9653,0023,0073,0923,1533,3473,3373,1623,0382,9942,9802,9642,9482,9522,9512,9512,9532,9522,9712,9632,9672,9792,9832,9792,980
Stateandlocal
3,3413,5823,7873,9484,0984,0874,1884,3404,5634,7275,0695,3995,6485,8506,0836,3156,5506,8687,2487,6968,2208,6729,1029,4379,82310,18510,64911,06811,44611,93712,13812,39912,91913,17413,37513,25913,09813,09613,21613,51913,79414,06714,41514,79115,23715,46915,03515,07515,11415,14615,19315,24015,26815,28315,33415,36415,39115,40515,41315,43815,45615,47115,48815,48515,45715,44715,44515,48415,48615,551
Note (cont'd).—and unpaid family workers; which count persons as employed when they are not at work because of industrialdisputes, bad weather, etc., even if they are not paid for the time off; and which are based on a sample of the working-age population.For description and details of the various establishment data, see "Employment and Earnings."
Source: Department of Labor, Bureau of Labor Statistics.
345Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-42.—Average weekly hours and hourly and weekly earnings in private nonagricultural industries,
1955-91
[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]
Year or month
19551956....195719581959I960196119621963196419651966 ..1967196819691970197119721973197419751976197719781979....198019811982198319841985198619871988 ...198919901991 ".1990: Jan
FebMar
MavJuneJulyAugSeptOctNovDec
1991: JanFebMar .
ft:JuneJulyAug...sept :::OctNov *Dec '
Averageweekly hours
Totalpri-
vate1
39.639.338.838.539.038.638.638.738.838.738.838.638.037.837.737.136.937.036.936.536.136.136.035.835.735.335.234.835.035.234.934.834.834.734.634.534.334.534.534.534.534.534.634.534.534.634.234.434.634.134.334.234.034.334.634.134.334.534.334.434.5
Manufactur-ing
Total
40.740.439.839.240.339.739.840.440.540.741.241.440.640.740.639.839.940.540.740.039.540.140.340.440.239.739.838.940.140.740.540.741.041.141.040.840.740.740.840.940.740.940.940.940.940.940.740.640.740.440.340.340.240.440.840.741.041.040.941.041.1
Over-time
....„..„.
2.32.02.72.52.42.82.83.13.63.93.43.63.63.02.93.53.83.32.63.13.53.63.32.82.82.33.03.43.33.43.73.93.83.63.63.73.63.73.53.83.83.73.83.73.63.53.53.43.33.33.33.43.73.73.83.73.73.73.8
Averagehourly earnings
Total private 1
Cur-rentdol-lars
$1.711.801.891.952.022.092.142.222.282.362.462.562.682.853.043.233.453.703.944.244.534.865.255.696.166.667.257.688.028.328.578.768.989.289.66
10.0210.349.829.889.929.959.98
10.0210.0510.0710.1010.1010.1310.1710.1810.2010.2410.2810.3210.3710.3610.4010.4110.4010.4310.50
1982dol-
lars2
$6.156.386.476.506.696.796.887.077.177.337.527.627.727.897.988.038.218.538.558.288.128.248.368.408.177.787.697.687.797.807.777.817.737.697.647.537.467.557.567.567.577.587.577.577.517.487.437.437.447.427.437.467.477.477.497.477.497.477.467.447.48
Manu-factur-
ing
$1.851.952.042.102.192.262.322.392.452.532.612.712.823.013.193.353.573.824.094.424.835.225.686.176.707.277.998.498.839.199.549.739.91
10.1910.4810.8311.1810.5610.6710.7310.7510.8010.8410.8710.8910.9110.9610.9610.9911.0211.0311.0511.1211.1511.1911.2211.2511.2511.2611.3011.32
Averageweekly earnings
Total private 1
Currentdollars
$67.7270.7473.3375.0878.7880.6782.6085.9188.4691.3395.4598.82
101.84107.73114.61119.83127.31136.90145.39154.76163.53175.45189.00203.70219.91235.10255.20267.26280.70292.86299.09304.85312.50322.02334.24345.69354.66338.79340.86342.24343.28344.31346.69346.73347.42349.46345.42348.47351.88347.14349.86350.21349.52353.98358.80353.28356.72359.15356.72358.79362.25
1982dol-
lars2
$243.60250.85251.13250.27260.86261.92265.59273.60278.18283.63291.90294.11293.49298.42300.81298.08303.12315.44315.38302.27293.06297.37300.96300.89291.66274.65270.63267.26272.52274.73271.16271.94269.16266.79264.22259.72255.89260.41260.80260.85261.25261.44261.85261.09259.27258.67254.17255.66257.41253.02254.81255.07253.83256.32259.25254.89257.00257.82255.90256.10258.01
Manu-factur-
ing(cur-rentdol-lars)
$75.3078.7881.1982.3288.2689.7292.3496.5699.23
102.97107.53112.19114.49122.51129.51133.33142.44154.71166.46176.80190.79209.32228.90249.27269.34288.62318.00330.26354.08374.03386.37396.01406.31418.81429.68441.86455.03429.79435.34438.86437.53441.72443.36444.58445.40446.22446.07444.98447.29445.21444.51445.32447.02450.46456.55456.65461.25461.25460.53463.30465.25
Con-struc-tion(cur-rentdol-lars)
$90.9096.38
100.27103.78108.41112.67118.08122.47127.19132.06138.38146.26154.95164.49181.54195.45211.67221.19235.89249.25266.08283.73295.65318.69342.99367.78399.26426.82442.97458.51464.46466.75480.44495.73513.17526.40533.78527.87526.30527.23511.63526.01530.53522.02528.31532.22515.59530.46536.77523.13533.65526.67532,50533.40532.64532.38533.25537.73536.97524.90537.35
Retailtrade(cur-rentdol-lars)
$48.7550.1852.2054.1056.1557.7658.6660.9662.6664.8166.6568.5070.8674.9378.6782.3187.5192.0396.45
102.55108.63114.56121.54130.14138.83147.24157.99163.83171.13174.47174.81175.80178.80183.62188.72194.69200.20192.10192.38193.92194.21194.11195.65195.94195.16196.81193.69196.02196.31194.14196.48197.34197.95200.33202.59199.65201.34203.04200.50204.19202.92
Percent changefrom a yearearlier, total
private 3
Cur-rentdol-lars
5.04.53.72.44.92.42.44.03.03.24.53.53.15.86.44.66.27.56.26.45.77.37.77.88.06.98.54.75.04.32.11.92.53.03.83.42.62.63.83.62.44.04.43.43.64.52.23.34.02.42.42.32.52.93.11.93.02.83.33.03.1
1982dol-
lars2
5.33.0.13
4.2.4
1.43.01.72.02.9.8
-.21.7.8
-.91.74.1-.0
-4.2-3.0
1.51.2o315815122.0
.813.3
-1.09
-1.0-1.7-1.5
25-1.3-1.6-2.0-.1-.1
-1.0-1.9-1.5-3.8-2.8-2.0-2.9-2.5-2.2-2.1-1.9-1.4-2.3
5_ 3
16.2.3
1 Also includes other private industry groups shown in Table B-41.2 Current dollars divided by the consumer price index for urban wage earners and clerical workers on a 1982=100 base.3 Monthly percent changes are based on data not seasonally adjusted.Note.—See Note, Table B-41.Source: Department of Labor, Bureau of Labor Statistics.
346Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-43.—Employment cost index, private industry, 1979-91
Year and month
December:1979 .198019811982198319841985198619871988198919901991
1990: MarJuneSeptDec
1991: MarJuneSeptDec
1990: MarJuneSeptDec
1991: MarJuneSeptDec
December:198019811982198319841985198619871988198919901991
1990: MarJuneSeptDec
1991: MarJuneSeptDec
1990: MarJuneSeptDec
1991: MarJuneSeptDec
Total private
Totalcompen-
sation
Wagesandsala-ries
Bene-fits1
Goods-producing
Totalcompen-sation
"STsala-ries
Bene-fits1
Service-producing
Totalcompen-sation
Wagesandsala-ries
Bene-fits1
Manufacturing
Totalcompen-sation
Wagesandsala-ries
Bene-fits1
Nontnanufacturing
Totalcompen-sation
wffsala-ries
Index, June 1989=100; not seasonally adjusted
59.164.871.275.880.184.087.390.193.197.6
102.3107.0111.7103.9105.2106.2107.0108.5109.8111.0111.7
61.567.173.077.681.484.888.391.194.198.0
102.0106.1110.0103.2104.5105.4106.1107.3108.4109.3110.0
53.259.466.671.476.781.784.687.590.596.7
102.6109.4116.2105.5106.9108.3109.4111.6113.5115.2116.2
60.766.773.377.881.685.488.291.093.897.9
102.1107.0111.9103.9105.2106.2107.0108.5109.8111.0111.9
63.769.775.780.083.286.489.492.395.298.2
102.0105.8109.7103.1104.2105.1105.8107.0108.0108.7109.7
54.660.568.273.278.383.285.788.390.997.3
102.6109.9116.7105.7107.2108.7109.9111.9113.9115.8116.7
57.763.369.574.178.982.986.689.392.697.3
102.3107.0111.6103.8105.2106.2107.0108.5109.8111.0111.6
60.065.371.175.980.283.787.790.393.497.8
102.2106.3110.2103.3104.6105.7106.3107.5108.7109.7110.2
51.958.465.169.675.280.483.686.890.296.1
102.6109.0115.7105.3106.6107.9109.0111.4113.0114.6115.7
60.166.072.576.980.885.087.890.793.497.6
102.0107.2112.2104.0105.3106.4107.2108.6110.0111.2112.2
63.068.974.979.182.586.189.292.195.298.1
101.9106.2110.3103.3104.5105.4106.2107.4108.4109.3110.3
54.259.967.572.477.582.785.087.589.896.6
102.3109.5116.1105.5106.9108.4109.5111.2113.3115.3116.1
58.564.270.475.179.683.487.089.792.997.5
102.3106.9111.5103.8105.1106.2106.9108.5109.7110.9111.5
60.866.272.176.881.084.288.090.693.797.8
102.2106.1109.8103.2104.5105.4106.1107.3108.4109.3109.8
Bene-fits1
52.559.166.170.676.281.184.487.591.096.8
102.8109.3116,2105.4106.9108.2109.3111.9113.5115.1116.2
Index, June 1989=100; seasonally adjusted
103.8105.0106.2107.2108.5109.7110.8111.9
103.3104.4105.4106.2107.3108.4109.2110.1
105.2106.7108.3109.9111.4113.2115.1116.7
103.8105.1106.2107.2108.4109.7110.8112.0
103.1104.2105.1105.8107.0108.0108.7109.7
105.4107.0108.7110.3111.6113.7115.8117.2
103.8105.0106.1107.2108.5109.7110.8111.9
103.4104.5105.5106.5107.6108.6109.5110.4
105.0106.4107.9109.5111.1112.8114.7116.4
103.9105.2106.4107.5108.5109.9111.2112.4
103.3104.5105.4106.2107.4108.4109.3110.3
105.1106.7108.4110.1110.8113.1115.2116.7
103.8105.0106.1107.1108.5109.6110.8111.8
103.2104.5105.3106.2107.4108.4109.2109.9
105.1106.7108.2109.8111.5113.3115.1116.8
Percent change from 12 months earlier, not seasonally adjusted
9.69.96.55.74.93.93.23.34.84.84.64.45.25.24.94.64.44.44.54.4
9.18.86.34.94.24.13.23.34.14.14.03.74.24.54.24.04.03.73.73.7
11.712.17.27.46.53.53.43.46.96.16.66.27.26.96.86.65.86.26.46.2
9.99.96.14.94.73.33.23.14.44.34.84.65.15.25.04.84.44.44.54.6
9.48.65.74.03.83.53.23.13.23.93.73.74.04.24.13.73.83.63.43.7
10.812.77.37.06.33.03.02.97.05.47.16.27.17.27.17.15.96.36.56.2
9.79.86.66.55.14.53.13.75.15.14.64.35.15.24.84.64.54.44.54.3
8.88.96.85.74.44.83.03.44.74.54.03.74.24.64.24.04.13.93.83.7
12.511.56.98.06.94.03.83.96.56.86.26.17.26.66.46.25.86.06.26.1
9.89.86.15.15.23.33.33.04.54.55.14.75.25.35.25.14.44.54.54.7
9.48.75.64.34.43.63.33.43.03.94.23.94.34.54.54.24.03.73.73.9
10.512.77.37.06.72.82.92.67.65.97.06.06.86.96.77.05.46.06.46.0
9.79.76.76.04.84.33.13.65.04.94.54.35.15.14.84.54.54.44.44.3
8.98.96.55.54.04.53.03.44.44.53.83.54.14.53.93.84.03.73.73.5
12.611.86.87.96.44.13.74.06.46.26.36.37.36.96.76.36.26.26.46.3
Percent change from 3 months earlier, seasonally adjusted
1.41.21.1.9
1.21.11.01.0
1.11.11.0.8
1.01.0
'.8
2.11.41.51.51.41.61.71.4
1.51.31.0.9
1.11.21.01.1
1.11.1.9
LI.9.6.9
2.31.51.61.51.21.91.81.2
1.31.21.01.01.21.11.01.0
1.01.11.0
.91.0.9.8.8
1.91.31.41.51.51.51.71.5
1.61.31.11.0.9
1.31.21.1
1.41.2.9.8
1.1.9.8.9
2.21.51.61.6.6
2.11.91.3
1.31.21.0.9
1.31.01.1.9
0.91.3.8.9
1.1.9
!6
1.71.51.41.51.51.61.61.5
1 Employer costs for employee benefits.Note.—The employment cost index is a measure of the change in the cost of labor, free from the influence of employment shifts
among occupations and industries.Data exclude farm and household workers.Through December 1981, percent changes are based on unrounded data; thereafter changes are based on indexes as published.Source: Department of Labor, Bureau of Labor Statistics.
347Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-44.—Productivity and related data, business sector, 1959-91
[1982=100; quarterly data seasonally adjusted]
Year orquarter
195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: IV1989:1
IIIllIV
1990:1III l lIV
1991:1IIIl l
Output per hourof all persons
Busi-ness
sector
64.665.668.170.473.376.578.681.083.085.485.987.090.292.695.093.395.598.399.8
100.499.398.699.9
100.0102.2104.6106.1108.3109.4110.4109.5109.7101.1103.0105.2106.9108.0110.3110.4110.0109.7109.2109.1109.6110.3109.6109.4109.4109.9110.2
Nonfarmbusinesssector
69.270.072.274.477.180.081.983.685.487.887.888.691.694.196.494.596.799.2
100.6101.399.999.099.9
100.0102.4104.5105.4107.5108.3109.2108.2108.1101.0103.2105.1105.8107.1109.1109.6108.8108.2107.9107.8108.1108.6107.9107.9107.9108.4108.6
Output1
Busi-ness
sector
51.552.353.456.158.862.366.069.571.074.176.375.978.383.088.286.785.090.094.9
100.1102.1100.5102.4100.0104.1112.6116.7119.9124.8130.1132.4132.9100.0107.5114.4118.0120.6127.4131.7132.6132.5132.4132.2133.2133.9132.9131.8130.2130.7131.3
Nonfarmbusinesssector
51.151.953.055.858.462.065.869.570.974.276.375.878.383.088.486.885.090.195.0
100.5102.5100.8102.4100.0104.4113.0116.8120.1125.0130.6132.8133.2100.0108.1114.8118.2120.8127.6132.5133.0132.8132.8132.6133.5134.1133.1132.0130.4130.9131.4
Hours of allpersons2
Busi-ness
sector
79.679.778.579.780.181.483.985.885.686.888.987.286.989.692.892.989.191.595.199.7
102.8101.9102.5100.0101.8107.6109.9110.7114.1117.9120.9121.298.9
104.3108.7110.4111.6115.5119.3120.5120.7121.3121.2121.6121.4121.2120.5119.1119.0119.2
Nonfarmbusinesssector
73.874.273.474.975.877.580.483.183.184.587.085.685.488.391.791.888.090.894.599.3
102.7101.8102.5100.0102.0108.1110.8111.8115.4119.5122.7123.198.9
104.7109.2111.7112.8117.0121.0122.2122.7123.1123.0123.5123.4123.3122.4120.9120.8121.0
Compensationper hour3
Busi-ness
sector
20.221.121.922.923.825.026.027.829.431.834.136.739.041.545.149.554.559.464.269.976.785.093.0
100.0103.7108.1113.0118.6122.7128.0132.5139.6102.1105.2109.7115.4120.6125.3130.1131.3131.9132.6134.1136.2139.0140.9142.3143.2144.8145.8
Nonfarmbusinesssector
21.322.222.923.924.725.826.728.329.932.334.537.039.441.945.449.954.859.564.370.076.784.993.0
100.0103.9108.1112.6118.1122.1127.2131.5138.3102.1105.1109.7114.8120.1124.6129.3130.4130.7131.5133.0134.9137.6139.5141.0142.0143.6144.5
Real compensationper hour4
Busi-ness
sector
67.068.770.773.275.077.979.682.984.988.289.791.293.095.898.097.097.7
100.8102.3103.4102.099.598.7
100.0100.5100.4101.3104.4104.3104.4103.1103.1100.6100.4100.6102.2105.3104.8104.3103.9102.9102.7102.8102.6103.6103.3102.6102.4103.0103.0
Nonfarmbusinesssector
70.572.374.076.277.980.481.884.286.589.590.792.093.896.798.697.698.3
101.0102.4103.6101.999.498.8
100.0100.7100.4101.0104.0103.7103.8102.3102.1100.6100.3100.5101.6104.9104.2103.6103.2102.0101.8101.9101.6102.6102.3101.7101.5102.1102.1
Unit labor costs
Busi-ness
sector
31.332.132.232.532.432.733.134.435.437.239.742.243.344.847.553.157.160.564.369.677.286.293.1
100.0101.5103.3106.5109.5112.2116.0121.0127.2101.0102.1104.3108.0111.6113.7117.8119.3120.2121.5122.8124.3126.1128.5130.1131.0131.8132.4
Nonfarmbusinesssector
30.731.731.732.032.032.332.633.835.136.839.341.742.944.547.152.856.760.063.969.176.885.793.1
100.0101.5103.4106.8109.9112.8116.4121.5127.9101.1101.8104.4108.4112.1114.3118.0119.8120.8121.9123.4124.9126.7129.2130.7131.6132.5133.1
Implicit pricedeflator'
Busi-ness
sector
32.132.632.833.433.734.034.936.037.138.740.542.344.346.249.053.759.062.466.571.878.385.994.5
100.0103.4107.7111.2113.6116.6120.8126.0130.8101.1104.8109.0112.4114.6117.9122.8124.2125.6126.4127.6128.8130.2131.6132.5134.0135.0135.6
Nonfarmbusinesssector
31.732.232.433.133.433.834.635.736.938.540.342.144.145.847.952.858.361.966.171.277.585.694.2
100.0104.0107.6111.6114.2117.2121.4126.4131.3101.4105.2109.0112.9115.2118.5123.4124.5126.0126.9128.0129.2130.6132.2133.3134.9135.7136.4
1 Output refers to cross domestic product originating in the sector in 1987 dollars.2 Hours at work of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates basedprimarily on establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.6 Current dollar gross domestic product divided by constant dollar gross domestic product.
Note.—Data reflect the recent comprehensive (benchmark) revision of the national income and product accounts by the Departmentof Commerce, Bureau of Economic Analysis (BEA). BEA data for output and compensation for the first three quarters of 1991incorporate benchmarking to unemployment insurance (Ul) records. However, the detailed Ul information needed by the Bureau of LaborStatistics to measure employment and hours for 1990 and 1991 is not yet available. Therefore, movements in measures based on hoursof labor input should be interpreted with caution for 1990 and 1991.
Source: Department of Labor, Bureau of Labor Statistics.
348Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-45.—Changes in productivity and related data, business sector, 1960-91
[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]
Year orquarter
I960..19611962.. ..19631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985198619871988198919901989:1
IIIllIV
1990:1IIIllIV
1991:1IIIll
Output per hourof ail persons
Busi-ness
sector
1.63.73.54.14.3
2.73.02.53.0
1.33.62.72.6
-1.8
2.33.01.6.6
1 1
71.3.1
2.22.3
1.42.01.0.9
-.7.2
-1.5-1.0-2.0-.21.72.4
-2.2-.9-.11.91.1
Nonfarmbusinesssector
1.03.23.13.63.8
2.32.12.12.9
-.0
.93.52.72.5
-2.0
2.32.71.4
14g.9.1
2.42.1
.81.9.8.9
-.9-.1
-2.8-2.0-1.3-.31.02.1
-2.5-.3
L9.9
Output1
Busi-ness
sector
1.72.15.14.76.0
6.05.32.24.42.9
-.53.26.06.2
-1.8
-1.95.85.55.52.0
-1.61.9
-2.34.18.2
3.62.84.14.31.8.4
2.6
-!l-.6
3.02.0
-3.0-3.0
-4.91.71.8
Nonfarmbusinesssector
1.62.15.34.76.2
6.15.52.14.62.9
-.63.26.16.5
-1.9
-2.06.05.55.82.0
-1.71.6
-2.44.48.2
3.42.84.14.41.7.3
1.4-.6
.1
2.71.8
-3.0-3.1-4.9
1.61.6
Hours of ailpersons2
Busi-ness
sector
0.1-1.6
1.6
lie3.22.3
3L42.4
-1.9-.43.23.6.1
-4.12.83.84.93.1
-.9.6
-2.51.85.7
2.1.7
3.13.32.6
.24.2
2.0_ 4
1.2
-'.8-2.2-4.7_ 3
'.7
Nonfarmbusinesssector
0.61 12.11.12.3
3.83.4o1.72.9
-1.6-.33.33.9.1
-4.23.24.15.03.4
-.8.7
-2.42.06.0
2.5.9
3.33.52.7.3
4.31.41.4_ 4
1.8-.3-.5
-2.8-4.9
— 3'.7
Compensation perhour8
Busi-ness
sector
4.33.94.73.85.2
3.87.05.78.27.3
7.66.46.38.79.9
10.09.18.08.89.8
10.79.47.63.74.2
4.54.93.54.33.55.43.52.02.14.46.68.45.74.12.64.62.8
Nonfarmbusinesssector
4.43.34.13.54.6
3.36.05.87.96.8
7.26.46.48.39.9
9.98.68.08.99.5
10.79.67.53.94.0
4.24.93.44.13.45.23.41.12.54.56.08.15.64.42.74.62.7
Real compensationper hour4
Busi-ness
sector
2.62.83.62.43.9
2.24.12.53.81.7
1.71.93.02.3
-1.0
.83.21.41.2
-1.4
24-.81.3.5
-.1
.93.0-.1
.1-1.2
o-1.3-3.9-1.0
.4_ i4i3
-1.1-2.7_ g2'.4-.2
Nonfarmbusinesssector
2.62.23.02.23.3
1.73.02.63.61.3
1.42.03.11.9
-1.0
.72.71.41.2
-1.6
-2.4-.71.2.7
-.3
.63.0
_ 20
-1.4-.2
-1.5-4.7-.7
.5-1.3
4.1-1.2-2.4-.82.5
_.2
Unit labor costs
Busi-ness
sector
2.7.2
1.2-.3
.9
1.13.93.15.16.7
6.12.73.55.9
11.9
7.46.06.48.2
11.0
11.58.07.41.51.9
3.02.82.53.34.35.25.13.14.24.64.85.88.15.02.72.61.7
Nonfarmbusinesssector
3.301.0-.1
.8
1.03.83.64.96.9
6.22.93.75.7
12.1
7.55.86.58.1
11.1
11.78.67.41.51.9
3.32.92.63.24.35.36.43.23.84.85.05.98.44.72.72.61.9
Implicit pricedeflator5
Busi-ness
sector
1.6.6
2.0.7
1.1
2.53.22.94.54.7
4.44.64.36.19.5
10.05.86.58.09.1
9.710.15.83.44.1
3.32.22.63.64.33.84.74.42.73.74.04.34.42.84.52.91.8
Nonfarmbusinesssector
1.5.6
2.1.9
1.4
2.23.13.34.64.6
4.64.64.04.5
10.2
10.46.36.87.68.9
10.410.16.14.03.5
3.72.42.63.64.13.93.94.73.03.53.84.54.83.44.82.52.1
....... s domestic product originating in the sector in 1987 dollars.2 Hours at work or all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates basedprimarily on establishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, ana supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.5 Current dollar gross domestic product divided By constant dollar gross domestic product.
Note.—Percent changes are based on original data and therefore may differ slightly from percent changes based on indexes in Table
See also Note, Table B-44.Source: Department of Labor, Bureau of Labor Statistics.
349Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRODUCTION AND BUSINESS ACTIVITY
TABLE B-46.—Industrial production indexes, major industry divisions, 1947-91
[1987=100; monthly data seasonally adjusted]
Year or month
19$0SMMffoff1947^^194819491966196119521953195419551906195719581959I9601961196219631964196519661967 .. .196819691970197119721973197419751976197719781979198019811982198319841985 .198619871988198919901991"1990- Jan
FebMarAprMayJuneJulyAueSeptOctNovDec
1991: JanFebMarAprMayJuneJulyAugSeptOctNov"Dec "
Totalindustrial
production
100.022.723.622.325.828.829.131.629.933.735.135.633.337.338.138.441.644.047.051.756.357.560.763.561.462.268.373.872.766.372.478.282.685.784.185.781.984.992.894.495.3
100.0105.4108.1109.2107.1107.5108.5108.9108.8109.4110.1110.4110.5110.6109.9108.3107.2106.6105.7105.0105.5106.4107.3108.1108.0108.4108.2108.0107.8
Manufacturing
Total
85.021.222.020.824.226.127.221627.731.332.532.930.634.535.235.338.440.743.548.252.653.656.659.156.457.363.368.967.961.167.473.377.880.978.880.376.680.989.391.694.3
100.0105.8108.9109.9107.5108.1109.6109.8109.5110.3110.8111.1111.1111.2110.7108.9107.5107.0106.1105.2105.9106.6107.5108.3108.4108.9108.9108.6108.7
Durable
48.319.921818.923.@25.927.531.127.431.332.432.628.532.833.332.736.338.741.447.152.352.955.557.753.353.159.366.264.856.762.668.773.978.375.777.472.776.888.491.893.9
100.0107.6110.9111.6107.1108.6110.7111.9111.1112.6113.4113.4113.5113.8112.5109.9107.5107.2106.1105.0106.0106.7107.3108.1107.8108.4108.1107.7107.5
able
36.722.623.423J25.626.42€.928.028.231.332.933.533.737.138.039.141.543.846.649.852.954.658.161.161.163.669.372.772.367.774.680.183.584.683.184.582.587.090.891.594.9
100.0103.6106.4107.8108.0107.5108.3107.2107.5107.4107.6108.1108.1108.0108.4107.7107.4106.8106.0105.4105.9106.5107.6108.6109.0109.6110.0109.8110.3
^7.4
55.558.351.757.763.462.864.5§3.270.574.274.368.171.372.773.175.278.281.484.488.990.694.197.8
100.497.899.9
100.8100.398.098.9
101.5104.6106.611Q.O114.3109.3104.8111.9109.0101.0100.0101.8100.5102.6101.0101.7101.0101.1102.9102.2102.2104.0102.4103.9102.6103.3103.4101.7102.9101.5100.9100.2102.1102.7101.3101.4100.699.298.9
Utilities
7.511.713.813.915.818.119.S21.322.925.628.13©.031.434.536.939.041.944.848.751.755.658.463.168.772.976.481.384.583.584.387.689.992.795.395.994.391.893.697.099.596.3
100.0104.4107.1108.0108.7106.8104.0106.2106.7107.1109.7109.7111.4110.3109.2106.9108.8107.6104.6106.4105.9111.4111.5110.9110.7109.7108.6110.0106.7
Source: Board of Governors of the Federal Reserve System.
350Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-47.—Industrial production indexes, market groupings, 1947-91
[1987=100; monthly data seasonally adjusted]
Year or month
1990 proportion1947194819491950195119521953195419551956195719581959196019611962.19631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 ».1990: Jan .
FebMarAprMayJuneJulyAugSept....OctNovDec
1991: JanFebMar
May" 1JuneJulyAugSeptOctNov "..Dec "
Totalindustrial
production
100.022.723.622.325.828.029.131.629.933.735.135.633.337.338.138.441.644.047.051.756.357.560.763.561.462,268.373.872.766.372.478.282.685.784.185.781.984.992,894.495.3
100.0105.4108.1109.2107.1107.5108.5108.9108.8109.4110.1110.4110.5110.6109.9108.3107.2106.6105.7105.0105.5106.4107.3108.1108.0108.4108.2108.0107.8
Final products
Total
46.820.821.520.923.525.427.329.127.629.831.632.531.034.035.135.438.440.642.947.151.653.756.358.156.056.561.365.965.761.866.271.676.179.080.082.180.883.091.094.295.7
100.0105.6109.1110.9109.5108.5109.7110.7110.4111.2111.7111.7111.9112.6112.3110.2109.2109.1108.3108.1108.7109.3110.1110.2109.8110.4110.6110.4110.0
Consumer goods
Total
25.625.426.226.129.729.430.131.931.735.436.737.637.240.942.443.346.248.851.555.558.459.863.465.865.068.874.377.675.272.379.485.188.487.385.385.884.588.892.893.796.8
100.0104.0106.7107.3107.5106.0107.0107.5107.2107.4107,8107.5107.8108.7108.6106.5105.7105.6104.7104.7105.5106.6108.0108.3108.4109.4109.7109.8109.4
Auto-motiveprod-ucts
2.321.722.622.528.325.022.528.426.535.228.930.324.130.234.631.638.34L943.954.153.947.456.456.747.760.865.672.462.659.073.284.086.378.559.559.257.571.986.692.795.2
100.0105.9106.9102.398.085.299.3
109.3102.4107.0112.2108.7104.6111.8107.193.586.790.688.188.994.297.4
100.4102.398.6
106.5106.7104.1102.5
Otherdura-ble
goods
3.122.823.822.030.426.226.229.627.332.233.933.231.336.036.237.340.543.747.754.159.660.464.769.066,970.881085.779.369.878.287.491.289.885.186.378.186.294.690.693.9
100.0104.1108.7109.4105.8110.6111.6112.0111.2111.1112.0109.5109.6109.3106.8104.1103.4103.2100.7101.4103.4104.1107.3108.1108.3108.7108.2108.2107.4
Non-durablegoods
20.127.027.727.930.331.332.633.533.936.538.840.141.344.145.547.049.251.454.056.359.062.064.566.767869.774.276.576.574.980.484.487.887.789.189.689.791.993.494.497.6
100.0103.7106.4107.6108.9107.8107.2106.6107.1106.9106.6107.3107.9108.2109.1108.5108.4107.8107.3107.1107.2108.1109.0109.0109.6109.8110.3110.7110.5
Equipment
Total »
21.215.015.814.115.321.225.527.624.224.727.128.225.227.728.528.131.333.135.039.646.149.050.451.848.145.049.355.056.852.053.858.864.271.074.678.277.076.889.294.894.5
100.0107.6112.3115.5112.2111.8113.3114.9114.7116.2116.8117.2117.2117.8117.0115.1113.6113.6112.9112.5112.8112.7112.8112.8111.6111.8111.7111.3110.9
Busi-ness
75.714.715.313.414.317.519.820.618.119.622.723.619.922.423.022.324.325.528.532.637.838.640.342.941.339.344.852.454.748.850.656.763.171.573.576.172.971.985.491.193.2
100.0111.8119.1123.1121.5118.0120.1122.2121.6123.5124.4125.0125,4126.4125.4122.9121.2121.6120.6120.3121.3121.7121.9122.5121.3122,2122.2121.8121.8
De-fenseand
space
4.87.58.89.2
10.826.537.244.639.335.935.136.736.838.839.940.646.950.649.054.363.772.772.969.458.752.851.350.149.448.549.249.249.551.557.458.565.771.878.989.496.0
100.098.097.497.390.997,597.697.597.397.697.697.897.797.397.396.295.894.494.593.992.591.591.090.089.889.188.988.487.1
Inter-mediate
prod-ucts
14.522.423.622.426.127.427.229.129.032.934.434.433.637.137.438.140.442.745.548.451.453.556.659.658.760.567.671.969.462.669.074.979.181.277.077.075.180.386.288.392.0
100.0104.4106.8107.7103.3108.0108.4108.2108.0108.3108.3108.4107.9107.4107.0106.2106.0103.8102.6101.3101.2102.7104.0104.0104.4104.3103.5103.8103.9
Materials
Total
38.725.126.223.928.631.632.135.632.938.939.939.935.941.442.042.045.848.752.658.763.963.367.571.569.070.077.284.582.872.681.287.391.895,491.392.885.188.396.696.695.9
100.0105.6107.4107.8105.6106.2107.1107.1107.3107.7108.8109.6109.7109.4108.3106.8105.3104.8103.9102.6103.4104.5105.4107.0107.2107.5107.3106.6106.6
Dura-ble
19.821.522.119.824.928.328.933.829.235.735.835.830.135.936.335.539.442.145.952.657.955.959.262.356.556.864.273.371.259.368.475.381.485.379.382.173.479.292.192.993.7
100.0109.0111.6111.8107.1109.4110.8110.9110.9112.5113.8114.0114.9114.1112.5110.4107.5106.8105.5103.3104.9106.2106.7108.2109.1109.3108.7108.4108.6
Non-durable
8.7
25.228.930.230.129.934.234.836.239.241.645.249.653.654.559.964.965.268.074.980.480.871.981.486.789.792.988.790.582.189.293.091.794.4
100.0103.0105.3106.0106.1105.4105.8105.2106.1105.2106.1107.8106.8106.9106.5105.6104.9104.9103.6102.8103.1103.7104.9108.1107.8108.3109.4108.1109.0
Ener-gy
10.1
52.759.362.763.458.862.363.163.665.869.772.575.880.683.487.291.796.297.1
100.8101.598.896.799.0
101.1102.2105.0106.2104.3100.798.9
103.8103.499.4
100.0101.8101.4102.1102.3101.2101.7102.0101.8101.1102.1103.3103.0103.0102.3101.6102.0101.1101.1101.3101.1102.4103.4104.1103.3103.6103.0102.4101.1
1 Two components—oil and gas well drilling and manufactured homes—are included in total equipment, but not in detail shown.Source: Board of Governors of the Federal Reserve System.
351Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-48.—Industrial production indexes, selected manufactures, 1947-91
[1987=100; monthly data seasonally adjusted]
Year or month
1990 proportion1947194819491950195119521953195419551956195719581959196019611962196319641965.. .1966196719681969197019711972...1973197419751976... .197719781979198019811982.198319841985 . ..198619871988198919901991 "...1990: Jan
FebMarAprMayJuneJuly..AugSeptOctNovDec .
1991: JanFebMar
fc=June
AugSeptOctNovDec f
Durable manufactures
Primarymetals
Total
3.370.273.061.477.384.176.887.070.491.590.987.169.080.780.478.984.691.2
102.9113.2120.2111.1115.1123.8115.2109.2122.4138.9134.5107.2119.9121.5130.7133.0110.8117.583.291.0
102.4101.893.8
100.0110.3109.2108.499.6
105.0107.9105.4106.4106.2109.5110.3114.6111.6108.6109.1104.299.799.594.794.596.996.4
101.2102.6102.3102.6103.5103.4
Ironandsteel
2.0102.1106.891.2
112.4125.7110.6127.599.1
131.8129.3124.693.9
108.1109.9104.9109.3119.1135.5148.7153.1141.5146.1159.2148.2135.5150.6171.5166.1133.5147.1145.1155.3156.5126.0135.186.296.1
105.9104.590.8
100.0113.8109.3109.998.3
104.6110.6106.1106.7105.5110.3110.6118.3113.9110.3112.6107.399.098.092.091.694.092.999.5
100.6100.8102.4105.6105.6
Fabri-catedmetalprod-ucts
5.237.538.234.442.245.144.049.644.751.051.853.147.653.453.452.156.758.562.168.373.176.580.681.975.975.682.992.188.476.784.992.796.299.592.591.183.285.593.394.593.8
100.0106.2107.2105.9100.4105.1105.6105.5105.0107.1106.7107.7107.9106.8106.4104.3101.9101.799.197.898.099.199.8
100.9101.4101.9101.7101.5101.9
Non-elec-trical
machin-ery
9.912.012.110.311.614.716.016.714.215.617.917.915.017.517.617.119.220.523.326.230.531.131.333.932.830.535.441.444.138.140.045.150.256.960.665.963.964.380.886.890.4
100.0113.8121.8126.5123.6123.7124.2125.2125.7126.9127.5128.3128.8128.5128.1126.3124.7125.5124.5123.11215123.6123.4123.9123.3123.1123.3122.6122.7
FJectri-cal
machin-ery
8.88.58.88.3
11.311.413.014.913.315.316.516.415.018.219.821.024.124.826.231.337.537.739.842.340.540.746.553.052.445.150.758.464.071.373.375.475.980.394.193.194.3
100.0' 106.5
109.5111.4110.1110.1111.0112.3111.3112.4112.8112.2112.5112.5110.8110.4108.7107.6108.2108.6109.7110.6111.5111.0111.5111.0109.9110.9110.7
Transportationequipment
Total
9.519.621.421.525.728.733.341.836.441.940.643.534.338.940.337.843.748.049.258.562.761.366.666.155.560.164.173.066.459.768.073.779.581.072.368.764.872.783.191.896.9
100.0105.0107.2105.598.694.7
103.5107.9105.1109.0111.0109.3107.9111.1109.2100.196.697.695.595.097.298.299.7
101.399.0
102.2102.499.798.0
Motorvehicles
andparts
4.127.329.630.439.035.830.738.733.344.636.238.028.036.441.136.043.948.649.963.762.6
- 55.166.066.353.366.973.085.073.462.281.994.799.291.067.064.458.874.590.699.098.5
100.0105.5104.996.890.476.894.1
103.595.8
104.0108.0102.7101.0107.5103.885.878.583.079.479.886.289.892.596.791.699.5
100.495.894.8
Lumberand
prod-ucts
1.938.840.435.743.443.242.745.144.850.149.545.446.152.349.351.654.456.961.163.565.965.367.267.166.768.578.478.771.466.575.682.383.682.476.974.767.379.986.088.095.1
100.0104.6103.0101.694.0
106.0104.3105.0103.3101.7102.0103.6100.5100.398.295.593.594.291.591.292.792.596.794.895.395292.494.995.5
Nondurable manufactures
Apparelprod-ucts
2.143.145.044.547.947.049.550.149.554.756.055.854.359.760.961.363.866.468.772.674.574.176.078.475.376.280.981.577.971.183.991.693.989.089.291.090.193.895.792.696.3
100.0102.2104.398.896.3
102.4102.199.898.799.299.399.298.898.497.295.594.992.993.192.593.295.296.297.898.398.198.799299.5
Textilemill
prod-ucts
1.735.237.734.839.639.238.939.937.342.543.741.641.146.445.646.950.151.956.061.064.764.872.376.074.478.586.089.681.577.786.391.692.095.092.189.483.093.293.789.793.9
100.099.8
101.9100.8100.6100.6103.099.8
100.9102.7103.6102.9100.4100.7101.297.496.194.094.395.497.299.2
101.7104.2104.7103.2105.4104.0104.1
Printingand
publish-ing
6.522.123.223.824.925.425.326.527.630.332.333.432.634.836.236.437.739.742.144.848.350.951.754.252.753.256.758.357.453.758.764.368.169.970.372.175.279.084.587.690.7
100.0103.6108.5111.9112.4110.7112.1111.4112.0112.8112.0111.4110.9111.6112.9112.4112.8112.1110.9101.4110.7110.6111.2111.9112.3113.3114.3114.8115.4
Chem-icalsand
prod-ucts
8.78.79.49.3
11.613.113.714.815.017.618.919.920.624.024.926.129.031.734.838.742.244.249.653.755.959.566.973.175.869.177.383.388.091.387.889.281.887.591.491.494.6
100.0105.4108.5110.3111.2109.9110.5109.5110.3109.2110.3110.4111.1110.9110.7110.0109.9110.1109.1108.2109.0109.2109.6111.5112.3112.6113.9114.1114.8
Foods
8.633.132.833.134.335.035.736.437.239.341.542.243.245.446.647.949.551.253.654.856.959.461.063.064.066.069.570.971.971.475.579.081.882.684.686.587.790.192.194.997.4
100.0102.8105.5107.6108.6106.8107.4107.1107.0106.8106.1107.1107.7107.6108.8109.6109.1108.3107.6107.4107.6107.8108.6108.3108.7109.5109.8110.0110.0
Source: Board of Governors of the Federal Reserve System.
352Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-49.—Capacity utilization rates, 1948-91
[Percent»; monthly data seasonally adjusted]
Year or month
19481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976.197719781979198019811982198319841985... .198619871988198919901991 p
1990: JanFebMarAprMay:::::::::::::::::::::::::"":JuneJulyAugSeptOctNovDec
1991: JanFebMarAprMayJuneJulyAugSept. ..OctNov ".Dec"
Totalindustry
86486.886980879284388484274679383385586282180975075881.1803792814840842830794827833834832834838838837836830816806800791784786791796800798799796793790
Total
82574282885885489380187086183675.081680177381483585689591 187287.286879778283788183873278582885185480278872874980479579081483983982378282083083082582983183 1829828822807794789780772775778783787786788786782781
Durablegoods
87186.886.376.774380987582770275480383584978.676669.070578.377876178682582 881 175879981382081 282282582382382281 279177276875874975475776076476076275875475 1
Manufacturing
Non-durablegoods
86.386.686.682.982886687584076481885286285181481078.081 183.181983085486085 583981684985384384384083984 183883683682982481881 0803805807814820821823824821822
Primaryprocessing
87376.288590.284989.480692089.484775.483079877981583887.891.091485.486.386.980.479386.491586072.980184086386478.078069.074880.479880884987887 084980185786185385085085686186185184383281 580679577978279079981 181.2813812807809
Advancedprocessing
80.073.279883.485989.380084.284.483.174.981.180.577281683484.688.891 188.087.486.579.177.482.586582.873.577881.984384.881.379.174.674.980.379478.279982.382781.277480.581.782081582.182081 881.681881379.678578277476877377.377677877.5111776772770
Mining
81.283.586.688.987.490.492.592.589.990.090.991.391.994.094.686.579.984.482.978.280084.685989.488.487.887.487.689388.989.090789.490.989990.690.889.590489.088387.689289.688.588.587886.5862
Utilities
93.494.195.895.493.994.692.986.884.084.884.684.885.985.582.879.580.382.583.580.282.584.285.485.284.584.882.584.184184.686.686.487.686.785.683.885.184.181683.082686.786.786.285.985.184185.282.5
1 Output as percent of capacity.Source: Board of Governors of the Federal Reserve System.
353Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—-N«*> construction activity, 1929-91
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
192919331939
19401941 .194219431944
19451946
New series194719481949 .. .
19501951195219531954
19551956195719581959
1960196119621963
New series
1964
19651966196719681969
19701971 .197219731974
19751976197719781979
19801981198219831984 ..
1985 ..1986198719881989
1990
Tntal
newconstruc-
tion
10.82.98.2
8.712.014.18.35.3
5.814.3
20.026.126.7
33.635.436.839.141.4
46.547.649.150.055.4
54.756.460.264.8
72.1
78.081.283.092.499.8
100.7117,3133.3146.8147.5
145.6165.4193.1230.2259.8
259.7272.0260.6294.9348.8
377.4407.7419.3432.2443.7
446.4
Private construction
Total
8.31.24.4
5.16.23.42.02.2
3.412.1
16.721.420.5
26.726.226.027.929.7
34.834.935.134.639.3
38.939.342.345.5
51.9
56.157.457.665.072.0
72.887.6
103.3114.5109.3
102.3121.5150.0180.0203.2
196.1207.3197.5231.5278.6
299.5323.1328.6337.4345.4
337.8
Residentialbuildings 1
Total8
3.6
2>
3.03.51.7.9.8
1.36.2
9.913.112.4
18.115.915.816.618.2
21.920.219.019.824.3
23.023.125.227.9
30.5
30.228.628.734.237.2
35.948.560.765.156.0
51.668.392.0
109.8116.4
100.499.284.7
125.5153.8
158.5187.1194.7198.1196.6
182.9
Newhousing
units
3.0
2i3
2.63.01.4.7.6
.74.8
7.810.510.0
15.613.212.913.414.9
18.216.114.715.419.2
17.317.119.421.7
24.1
23.821.821.526.729.2
27.138.750.154.643.4
36.350.872.285.689.3
69.669.457.094.6
113.8
114.7133.2139.9138.9139.2
128.0
Nonresidential buildings and otherconstruction l
Total
4.7
17
2.12.71.71.11.4
2.15.8
6.98.28.0
8.610.310.211.311.5
12.914.716.114.815.1
15.916.217.217.6
21.4
25.828.828.830.834.8
37.039.142.649.453.4
50.753.258.070.286.8
95.7108.0112.9106.0124.8
141.1136.0134.0139.3148.9
154.9
Com-mer-cial3
1.1.1
.3
.4
.2
.0
.1
.21.2
1.01.41.2
1.41.51.11.82.2
3.23.63.63.63.9
4.24.75.15.0
6.8
8.18.18.09.0
10.8
11.213.115.718.118.1
14.314.116.420.628.3
34.640.244.143.959.1
72.669.568.971.573.9
72.5
Indus-trial
0.9.2
.4
.8
'.2
.61.7
1.71.41.0
1.12.12.32.22.0
2.43.13.62.42.1
2.92.82.82.9
3.6
5.16.66.06.06.8
6.65.54.86.48.1
8.37.48.0
11.515.6
14.618.018.513.814.8
17.114.915.016.520.4
23.8
Other*
2.6
l'.2
1.31.51.2.9
1.1
1.33.0
4.25.55.9
6.16.76.87.37.2
7.38.09.08.89.0
8.98.79.29.7
11.0
12.614.114.915.817.2
19.220.522.124.927.2
28.231.633.738.242.8
46.649.850.248.250.8
51.351.650.051.454.6
58.5
Public construction
Total
2.51.63.8
3.65.8
10.76.33.1
2.42.2
3.34.76.3
6.99.3
10.811.211.7
11.712.714.115.516.1
15.917.117.919.4
20.2
21.923.825.427.427.8
27.929.730.032.338.1
43.344.043.150.156.6
63.664.763.163.570.2
77.884.690.694.898.3
108.7
Federal
0.2.5.8
1.23.89.35.62.5
1.7.9
.81.21.5
1.63.04.24.13.4
2.82.73.03.43.7
3.63.93.94.0
3.7
3.93.83.33.23.2
3.13.84.24.75.1
6.16.87.18.18.6
9.610.410.010.611.2
12.012.414.112.312.4
12.4
State andlocal5
2.31.13.1
2.42.01.3.7.6
.71.4
2.53.54.8
5.26.36.67.18.3
8.910.011.112.112.3
12.213.314.015.4
16.5
18.020.022.124.224.6
24.825.925.827.633.0
37.237.236.042.048.1
54.054.353.152.959.0
65.872.276.682.585.9
96.3
See next page for continuation of table.
354Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-50.—New construction activity, 1929-91—Continued
[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]
Year or month
1990: JanFebMarAprJay :::::::::::::::"" :June
JulyAugSeptOct.. .Nov ,.Dec
1991: Jan .FebMarAprMayJune
JulyAug...SeptOctNov"
Totalnew
construc-tion
457.3466.1464.4454.7451.1450.4
453.1449.7437.2434.6431.4421.3
406.5410.1401.9407.1399.0398.2
398.4403.2407.0409.4406.3
Private construction
Total
349.8356.3356.8350.3344.4342.0
345.2336.9330.3324.1317.2311.3
303.9300.5293.3299.0291.0290.9
290.3293.4296.6296.7293.6
Residentialbuildings '
Total2
195.2197.8198.6193.9188.8185.2
183.1180.6175.4172.1168.0165.0
161.8155.6152.4151.8154.6158.3
158.0162.8166.6167.5167.3
Newhousing
units
137.7141.6142.0137.4133.1129.7
127.8125.8121.6119.0115.1113.0
107.9103.5100.8100.6103.2106.7
109.9114.4118.0118.6119.0
Nonresidential buildings and otherconstruction l
Total
154.6158.5158.2156.4155.6156.9
162.2156.3154.9151.9149.2146.3
142.1144.9140.8147.2136.5132.6
132.3130.6130.0129.2126.2
Com-mer-cial3
74.576.675.774.673.874.2
75.473.572.369.166.865.6
62.762.960.162.757.553.0
52.551.650.948.945.7
Indus-trial
23.125.324.724.224.424.1
27.322.922.522.822.523.0
22.423.223.124.320.720.9
20.920.420.321.421.6
Other4
57.056.657.857.757.558.5
59.559.960.059.959.957.7
57.058.757.660.258.358.8
58.958.658.858.858.9
Public construction
Total
107.5109.8107.6104.3106.7108.4
107.9112.8106.8110.5114.2110.0
102.6109.6108.6108.0108.0107.3
108.1109.7110.4112.8112.8
Federal
12.312.013.113.012.013.0
13.413.412.110.712.411.7
12.711.211.214.312.613.8
13.113.213.414,215.3
State andlocal5
95.297.894.591.394.795.4
94.599.494.799.8
101.898.3
89.998.397.493.795.493.5
95.096.596.998.697.5
1 Beginning 1960, farm residential buildings included in residential buildings; prior to 1960, included in nonresidential buildings andother construction.
2 Includes residential improvements, not shown separately. Prior to 1964, also includes nonhousckeeping units (hotels, motels, etc.).3 Office buildings, warehouses, stores, restaurants, garages, etc., and, beginning 1964, hotels and motels; prior to 1964 hotels andmotels are included in total residential.
4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm (see also footnote 1), public utilities,telecommunications, and all other private.5 Includes Federal grants-in-aid for State and local projects.
Source: Department of Commerce, Bureau of the Census.
355Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-51.—New housing units started and authorized, 1959^91
[Thousands of units]
Year or month
1959I96019611962196319641965196619671968196919701971197219731974197519761977197819791980 .19811982 .1983198419851986 .19871988198919901991'
1990: JanFebMarAprMayJuneJulyAugSeptOctNovDec
1991: JanFebMarAprMay . .jun
ye :::JulyAug:::::::::::::::::::::::""SeptOct.::::::::::::::::::::::"Nov"Dec"
New housing units started
Private and public 1
Total(farm andnonfarm)
1,551,291,361,491,631,561,501,191,321,541,491,462,082,372,051,351,171,542,002,031,761,311,101,071,711,751,741,801,62
3.76.15.02.54.91.09.75.81.95.49.59.04.58.57.52.51.47.61.76.10.02.60.32.12.55.85.07.12.7
i
Nonfarm
1,531,271,331,461,611,531,481,171,291,521,48
1.34.06.88.74.84.07.52.88.81.42.3
!
Private (farm and nonfarm) l
Total
1,517.01,252.21,313.01,462.91,603.21,528.81,472.81,164.91,291.61,507.61,466.81,433.62,052.22,356.62,045.31,337.71,160.41,537.51,987.12,020.31,745.11,292.21,084.21,062.21,703.01,749.51,741.81,805.41,620.51,488.11,376.11,192.71,014.7
Type of structure
1 unit
1,234.0994.7974.3991.4
1,012.4970.5963.7778.6843.9899.4810.6812.9
1,151.01,309.21,132.0
888.1892.2
1,162.41,450.91,433.31,194.1
852.2705.4662.6
1,067.61,084.21,072.41,179.41,146.41,081.31,003.3
894.8841.6
2 to 4units
28:25-3314759(
108.486.661.171.680.985.084.8
120.3141.3118.368.164.085.9
121.7125.0122.0109.591.180.0
113.5121.4
93.484.065.358.855.237.536.3
5 unitsor more
J.Or.4J.71.5).8
450.0422.5325.1376.1527.3571.2535.9780.9906.2795.0381.6204.3289.2414.4462.0429.0330.5287.7319.6522.0544.0576.1542.0408.7348.0317.6260.4136.8
New private housing units authorized 2
Total
1,208.3998.0
1,064.21,186.61,334.71,285.81,239.8
971.91,141.01,353.41,323.71,351.51,924.62,218.91,819.51,074.4
939.21,296.21,690.01,800.51,551.81,190.6
985.51,000.51,605.21,681.81,733.31,769.41,534.81,455.61,338.41,110.8
960.8
Type of structure
1 unit
938.3746.1722.8716.2750.2720.1709.9563.2650.6694.7625.9646.8906.1
1,033.1882.1643.8675.5893.6
1,126.11,182.6
981.5710.4564.3546.4901.5922.4956.6
1,077.61,024.4
993.8931.7793.9758.5
2 to4units
77.164.667.687.1
118.9100.884.861.073.084.385.288.1
132.9148.6117.0
64.363.993.1
121.3130.6125.4114.5101.888.3
133.6142.6120.1108.489.375.767.054.345.7
5 unitsor more
192.9187.4273.8383.3465.6464.9445.1347.7417.5574.4612.7616.7885.7
1,037.2820.5366.2199.8309.5442.7487.3444.8365.7319.4365.8570.1616.8656.6583.5421.1386.1339.8262.6156.6
Seasonally adjusted annual rates
1,5431,4591,2981,2171,2081,1871,1551,1311,1061,0261,130
971847992907977983
1,0341,0491,0561,0171,0901,0751,103
1,0781,127
988901897890876835858839769751648788742801831869879883861889910948
534135513841313035225417293728323624464228513356
41229127526527325624826621316530720317016713714411614112413112815013299
1,7581,3431,2051,1231,0881,1231,0861,055
989925916854802876892913966999
1,005953982
1,028993
1,055
998978884816808801781756730703668645611695689742760780794769782796787851
846255575149586148444244404445454154424648505843
676303266250229273247238211178206165151137158126165165169138152182148161
1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Housing Act, are included in publicly owned starts and excluded fromtotal private starts.2 Authorized by issuance of local building permit: in 17,000 permit-issuing places beginning 1984; in 16,000 places for 1978-83; in14,000 places for 1972-77; in 13,000 places for 1967-71; in 12,000 pfaces for 1963-66; and in 10,000 places prior to 1963.3 Not available separately beginning January 1970.4 Series discontinued December 1988.
Source: Department of Commerce, Bureau of the Census.
356Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-52.—Business expenditures for new plant and equipment, 1947-92
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
194719481949 . . .
19501951195219531954
19551956195719581959
19601961 ,196219631964
1965. .1966196719681969
197019711972 .19731974
19751976197719781979
19801981 .19821983 .. .1984
1985198619871988198919901991*1992 4
1990: I||IllIV
1991: 1||IllIV *
1992:1*II*
Industries surveyed quarterly
Allindus-tries
20.1122.7820.28
21.5626.8128.1629.9628.86
30.9437.9040.5433.8435.88
39.4438.3440.8643.6751.26
59.5270.4072.7576.4285.74
91.9192.91103.40120.03139.67
142.42158.44184.82216.81255.26
286.40324.73326.19321.16373.83
410.12399.36410.52455.49507.40
532.61529.97558.60
532.50534.55534.11530.13
535,50524.57527.86531.96
563.31580.52
Manufacturing
Total
8.739.257.32
7.7311.0712.1212.4312.00
12.5016.3317.5012.9813.76
16.3615.5316.0317.2721.2325.4131.3732.2532.3436.27
36.9933.6035.4242.3552.48
53.6658.5357.4878.1395.13
112.60128.68123.97117.35139.61
152.88137.95141.06163.45183.80
192.61184.31184.06
192.16195.02194.05189.72
191.13187.35177.05181.72
188.11197.49
Dura-ble
goods
3.393.542.67
3.225.125.755.715.49
5.878.198.596.216.72
8.287.437.818.6410.98
13.4917.2317.8317.9319.97
19.8016.7818.2222.6326.77
25.3727.5032.7739.0247.72
54.8258.9354.5851.6164.57
70.8765.6868.0377.0482.56
82.5877.0479.38
86.0384.1582.4879.03
81.2479.6974.5172.74
80.5884.87
Non-durablegoods
5.345.714.64
4.515.956.376.726.51
6.628.158.916.777.04
8.088.108.228.6310.25
11.9214.1514.4214.4016.31
17.1916.8217.2019.7225.71
28.2831.0334.7139.1047.41
57.7769.7569.3965.7475.04
82.0172.2873.0386.41101.24
110.04107.27104.68
106.14110.87111.57110.69
109.90107.66102.54108.98
107.52112.61
Nonmanufacturing
Total *
11.3813.5312.96
13.8315.7416.0417.5316.8518.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91117.34138.69160.13
173.80196.06202.22203.82234.22
257.24261.40269.46292.04323.60
339.99345.66374.54
340.33339.53340.06340.41
344.37337.22350.81350.24
375.20383.03
Min-ing
0.69.93.88.841.111.211.251.29
1.311.641.691.431.35
1.291.261.411.261.33
1.361.421.381.441.77
2.022.672.883.304.58
6.127.639.8110.5511.05
12.7115.8114.1110.6411.8612.008.158.289.299.219.8810.069.509.629.779.9710.12
9.8910.0910.0910.15
10.5810.01
Trans-porta-tion
2.693.172.80
2.873.603.563.582.91
3.103.563.842.723.47
3.543.143.593.644.71
5.666.686.576.917.23
7.176.427.148.009.16
9.9511.1012.2012.0713.91
13.5612.6711.7510.8113.4414.5715.0515.0716.6318.8421.4722.1826.24
21.8421.9421.0821.1823.2523.0522.8319.61
24.8227.68
Publicutili-ties
1.642.673.28
3.423.753.964.614.23
4.264.785.955.745.46
5.405.205.125.335.80
6.497.829.3310.5211.70
13.0314.7016.2617.9919.96
20.2322.9027.8332.1037.53
41.3247.1753.5852.9557.53
59.5856.6156.2660.3766.28
67.2165.9871.4465.4164.6467.6870.24
67.0464.5866.4765.82
71.5274.47
Com-mercialandother
6.386,776.01
6.707.297.318.098.42
9.7711.5911.5610.9711.84
12.8613.2114.7116.1718.20
20.6023.1123.2225.2228.77
32.7135.5241.6948.3953.49
52.4758.2967.5183.9697.64
106.21120.41122.79129.41151.39
171.09181.59189.84205.76229.28
241.43247.44267.35
243.46243.18241.32238.87
244.19239.50251.42254.66
268.28270.88
Addenda
Totalnon-farmbusi-ness2
22.2725.9724,03
25.8131.3832.1634.2033.62
37.0845.2548.6242.5545.17
48.9948.1451.6153.5962.02
70.7982.6283.8288.92100.02
106.15109.18120.91139.26159.83
162.60179.91208.15244.40285.24
318.08358.77363.08359.73418.38
454.93447.11461.51508.22563.93
591.96
Manu-fac-tur-ing
8.739.257.32
7.7311.0712.1212.4312.00
12.5016.3317.5012.9813.76
16.3615.5316.0317.2721.23
25.4131.3732.2532.3436.27
36.9933.6035.4242.3552.48
53.6658.5367.4878.1395.13
112.60128.68123.97117.35139.61
152.88137.95141.06163.45183.80
192.61184.31184.06
192.16195.02194.05189.72
191.13187.35177.05181.72
188.11197.49
Nonmanufacturing
Total
13.5416.7316.72
18.0820.3120.0421.7721.62
24.5828.9131.1129.5731.41
32.6332.6035.5836.3340.80
45.3951.2551.5756.5863.74
69.1675.5885.4996.91107.35
108.95121.38140.67166.27190.11
205.48230.09239.11242.38278.77
302.05309.16320.45344.77380.13
399.34
Sur-veyedquar-terly
11.3813.5312.96
13.8315.7416.0417.5316.8518.4421.5723.0420.8622.12
23.0822.8024.8326.4030.04
34.1239.0340.5044.0849.47
54.9259.3167.9877.6787.19
88.7699.91117.34138.69160.13
173.80196.06202.22203.82234.22
257.24261.40269.46292.04323.60
339.99345.66374.54
340.33339.53340.06340.41
344.37337.22350.81350.24
375.20383.03
Sur-veyedannu-ally3
2.163.193.76
4.254.574.004.234.76
6.147.358.088.729.29
9.559.8010.759.9310.7611.2712.2211.0712.5014.27
14.2416.2617.5119.2420.16
20.1921.4723.3327.5829.98
31.6834.0436.8938.5644.55
44.8147.7550.9952.7356.53
59.35
1 Excludes forestry, fisheries, and agricultural services; professional services; social services and membership organizations; and realestate, which, effective with the April-May 1984 survey, are no longer surveyed quarterly. See last column ("nonmanufacturing surveyedannually") for data for these industries.2 "All industries" plus the part of nonmanufacturing that is surveyed annually.3 Consists of forestry, fisheries, and agricultural services; professional services; social services and membership organizations; andreal estate.
4 Planned capital expenditures as reported by business in October and November 1991, corrected for biases.Source: Department of Commerce, Bureau of the Census.
357Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-53.—Manufacturing and trade sales and inventories, 1950-91
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
1950195119521953195419SS19561957. . .195819591960196119621963196419651966196719681969. .. .197019711972.. . .1973 .19741975... . .19761977....19781979198019811982198319841§85198619871988198919901990: Jan
FebMar
MavJuneJulyAugSeptOctNovDec
1991: JanFebMarAprMayJune
Aug:::::::::."::::SeptOctNov "
Total manufacturing andtrade
Sales1
38,59643,35644,84647,98746,44351,69454,06355,87954,2*159,72966,82761,15965,66268,99573,68280,28387,18790,76598,667135,585108,109116,769130,931153,762177,946182,402264,381229,773260,592298,144327,874356,700348,755370,441411,391423,806431,668459,088496,330525,839542,917531,420537,551540,938535,418540,387544,643541,799554,180549,804554,628546,533534,760527,074527,915523,117530,872535,926536,977541,023539,578540,898542,982542,761
Inven-tories2
59,82270,24272,37776,12273,17§79,51687,36489,65287.08S92,99794,71995,586101,949165,463111,564128,929136,824144,856155,713169,362177,439187,633201,746233,944285,716288,190318,088350,328400,397452,216509,256546,363574,518590,968650,789665,066664,031711,595767,706810,257826,941810,742810,024810,830812,976816,667813,118818,689822,683825,964829,140830,857826,941831,445828,201819,615816,893811,713807,105806,802806,648809,793813,024814,340
Ratio3
1.361.551.581.S81.661.471.S51.S91.611.541.561.561.541.531.511.511.571.601.581.661.641.611.541.521.611.581.561.521.541.521.551.531.671.551.531551.551.501.491.511.511.531.511.501.521.511.491.511.481.501.491.521.551.581,571.571.541.511.501.491.491.501.501.50
Manufacturing
Sales1
18,63421,71422,52924,84323,35526,46927,74628,73627,24839,28639,87836,92233,35*35,05837,33146,99544,87046,48656,22953,50152,86555,96663,02772,93184,79086,58998,797113,201126,905143,936154,391168,129163,351172,547196,682194,538194,657206,326223,541236,689243,122232,180238,812241,975238,663243,214244,602242,754251,502247,916251,953245,827236,575234,548233,215228,715234,886238,289239,118240,193241,894242,240245,134245,586
Inven-tones'
31,07839,36641,13643,94641,6124S.06959,64251,87156,26352,91353,76654,87158,17266,02963,41668,26777,98684,64690,56698,145101,599162,567108,121124,499157,625159,768174,636188,378211,686242,150265,210283,395311,829312,350339,484334,863322,731338,212367,596383,825388,811386,547386,273384,947385,652386,235384,373387,104387,986390,992391,460392,370388,811388,381388,459385,982385,145381,877379,968378,002377,388378,837378,064378,034
Ratio3
1.481.661.781.761.811.621.731.861.841.751.741.771.741.711.701.661.741.821.861.831.921.831.721.711.861.841.771.661.671.681.721.691.951.781.731.731.681.591.581.611.601.661.621.591.621.591.571.591.541.581.551.601.641.661.671.691.641.601.591.571.561.561.541.54
Merchant wholesalers
Sales1
7,6958,5878,7829,0528,9939,99316,51310,4751S.25711,49111,65611,96812,67413,38214,52915,61116,98719,52026,92622,69424,03126,35629,69538,17347,98946,80350,88556,36466,66979,47293,704102,01396,290100,324113,393114,626116,151124,254135,176144,005149,193148,326148,351149,113147,568148,430149,885148,547151,694149,918150,588148,037148,036144,723143,608142,935145,019144,927145,217147,635145,524146,000145,365145,444
Inven-tories2
9,2849,86616,21616,68610,63711,67613,28612,73612,73813,87914,12614,46814,93616,04817,00618,31726,76524,95526,26828,76232,19935,21038,81645,55657,23956,97264,36572,80186,40599,262122,979130,275128,196130,906143,557148,484154,713165,271180,313188,273195,567188,470188,653189,580190,968192,557191,042192.042192,641193,077194,080194,984195,567198,993198,563196,733195,052193,632192,039192,806192,503191,211193,005194,148
Ratio3
1.071.161.121.17
L131.191.231.241.211.211.211.161.201.171.171.221.281.261.271.341.341.311.191.191.221.261.291.301.251.311.281.351.271.221.281.311.281.301.281.291.271.271.271.291.301.271.291.271.291.291.321.321.371.381.381.351.341.321.311.321.311.331.33
Retail trade
Sales1
12,26813,94613,52914,99114,99§15,32115,811
M,m17,95114,29418,24919,63626,55621,82323,67725,33024,75827,45329,39031,26434,51338,29942,65845,16749,01054,69960,20767,01874,73779,77986,55889,11497,570107,316114,642120,860128,509137,613145,146150,602150,914150,388149,850149,187148,743150,156150,498150,984151,970152,087152,669150,149147,803151,092151,467150,967152,710152,642153,195152,160152,658152,483151,731
Inven-tories2
19,46021,05021,63121,48829,98622,76923,49224,45124,1132S,36§26,81326,22127,94129,36631,09434,40538,07335,24938,88542,45543,64149,85654,80962,98970,85271,51079,08789,149102,306110,804121,067132,693134,493147,712167,748181,773186,587208,112219,791238,159242,563235,725235,098236,303236,356237,875237,703239,543242,056241,895243,600243,503242,563244,071241,179236,900236,696236,204235,098235,994236,757239,745241,955242,158
Ratio3
1.381.641.S21.531.511.431.4?1.441.441.411.471.441.421.431.421.451.501.421.421.441.461.441.431.481.571.461.451.481.531.481.521.531.491.441.491.521.561.551.551.601.591.561.561.581.581.601.581.591.601.591.601.591.621.651.601.561.571.551.541.541.561.571.591.60
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period. Inventories beginning January 1982 for manufacturing and December 1980 for wholesale and
retail trade are not comparable with earlier periods.3 Inventory/sales ratio. Annual data are: beginning 1982, averages of monthly ratios; for 1958-81, ratio of December inventories to
monthly average sales for the year; and for earlier years, weighted averages. Monthly data are ratio of inventories at end of month tosales for month.
Note.—Earlier data are not strictly comparable with data.beginning 1958 for manufacturing and beginning 1967 for wholesale andretail trade.
Source: Department of Commerce, Bureau of the Census.
358Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-54.—Manufacturers' shipments and inventories, 1950-91
[Millions of dollars; monthly data seasonally adjusted]
Year ormonth
195019511952 ...1953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977...,19781979.198019811982....19831984198519861987 .1988198919901990: Jan
FebMar
fc:June....JulyAugSept....OctNovDec
1991: JanFebMar
fcJune....JulyAugSept....OctNov p. ..
Shipments *
Total
18,63421,71422,52924,84323,35526,48027,74028,73627,24830,28630,87830,92233,35835,05837,33140,99544,87046,48650,22953,50152,80555,90663,02772,93184,79086,58998,797113,201126,905143,936154,391168,129163,351172,547190,682194,538194,657206,326223,541236,689243,122232,180238,812241,975238,663243,214244,602242.754251,502247,916251,953245,827236,575234,548233,215228,715234,886238,289239,118240,193241,894242,240245,134245,586
Dura-ble
goodsindus-tries
8,84510,49311,31313,34911,82814,07114,71515,23713,55315,59715,87015,60117,24718,25519,61122,19324,61725,23327,62429,40328,15629,92433,98739,63544,17343,59850,62359,16867,73175,92777,41983,72779,21285,48197,940101,279103,238108,128117,993124,532125,388118,699125,092126,769123,885127,891129,167126,531130,441125,783127,692122,693118,578117.648117,432114,487119,721121,024122,240122,994124,459124,965126,404126,545
Non-durablegoodsindus-tries
9,78911,22111,21611,49411,52712,40913,02513,49913,69514,68915,00815,32116,11116,80317,72018,80220,25321,25322,60524,09824,64925,98229,04033,2%40,61742,99148,17454,03359,17468,00976,97284,40284,13987,06692,74293,25991,41998,198105,549112,156117,735113,481113,720115,206114,778115,323115,435116,223121,061122,133124,261123,134117,997116,900115,783114,228115,165117,265116,878117,199117,435117,275118,730119,041
Inventories 2
Total
31,07839,30641,13643,94841,61245,06950,64251,87150,20352,91353,78654,87158,17260,02963,41068,20777,98684,64690,56098,145101,599102,567108,121124,499157,625159,708174,636188,378211,686242,150265,210283,395311,829312,350339.484334,803322,731338,212367,596383,825388,811386,547386,273384,947385,652386,235384,373387,104387,986390,992391,460392,370388,811388,381388,459385,982385,145381,877379,968378,002377,388378,837378,064378,034
Durable goods industries
Total
15,53920,99123,73125,87823,71026,40530,44731,72830,19432,01232,33732,49634,56535,77638,42142,18949,85254,8%58,73264,59866,65166,13670,06781,192101,493102,590111,988120,877138,174160,725174,779186,420200,409199,814221,284218,182212,010220,790241,389253,261252,836255,068254,499252,994254,328254,564252,877254.521254,721255,278255,113256,387252,836252,170252,256250,405249,546246,964245,642244,467243,616244,310242,816242,451
Mate-rialsand
supplies
8,9667,8949,19410,41710,6089,97010,70910,30610,24610,79411,05311,94613,29815,46416,42317,34418,63619,14919,67920.80725,94435,07033,90337,45740,18645,20252,67555,17957,99959,13160,32266,02764,02061,44563,68569,48871,29571,19171,42370,91670,28270,39070,59970,10770,63770,04470,26870,74171,04171,19171,20870,98070,10169,27468,42567,38766,93666,95167,02766,82366,565
Workin
proc-ess
10,7209,72110,75612,31712,83712,40813,08612,80913,21114,12414,83516,15818,05521,90824,93227,21330,28229,74528,55030,71335,49042,53043,22746,07450,22658,84169,31776,93780,98786,69386,88498,23498,06596,923102,324112,360120,890119,169122,536121,590120,881121,720121,617120,546121,509121,956122,352121,692122,487119,169119,015119,010118,646118,041117,308117,748117,350116,308116,762115,492115,472
Finishedgoods
6,2066,0406,3487,5658,1257,8168,2179.222S,0399,6479,88810.31710,83612,48013,54114,17515,68017,75717,90718,54719,75823,89325,46028,45730,46534,13!38,73342,66347,43454,58552,60857,02356,09753,64254,78159;54161,07662,47661,10961,99361,83162,21862,34862,22462,37562,72162,65862,68062,85962,47661,94762,26661,65862,23161,23160,50760,18160,35760,52160,50160,414
Nondurable goods industries
Total
15,53918,31517,40518,07017,90218,66420,19520,14320,00920,90121,44922,37523,60724,25324,98926,01828,13429,75031,82833,54734,94836,43138,05443,30756,13257,11862,64867,50173,51281,42590,43196,975111,420112,536118,200116,621110,721U7.422126,207130,564135,975131,479131,774131,953131,324131,671131,496132,583133,265135,714138,347135,983135,975136,211136,203135,577135,599134,913134,326133,535133,772134,527135,248135,583
Mate-rialsand
supplies
8,3178,1678,5568,9718,7758,6769,0949,0979,5059,83810,00910,16710,48711,19711,76012,32812,75313,16313,68614,67718,14723,74423,56525,84727,38729,60632,80336,59338,15944,03544,81045,68944,09442,33445,35049,15848,45649,71048,31648,35948,73148.46148,40548,27548 *5449,00349,40749,84549,98149,71050,03449,70649,66149,52349,34249,30549,40949,23749,28449,55649,286
Workin
proc-ess
2,4722,4402,5712,7212,8642,8272,9422,9473,1083,3043,4203,5313,8254,2264,4314,8525,1205,2715,6785,9986,7298,1898,8349,92910,96112,08313,90615,88216,19518,60918,69819,34419,47018,15319,32120,48922,42422,90622,47922,38722,36022,30822,47622,17122,28622,68323,14923,15522,95022,90622,42622,36921,99822,29622,22422,39522,22822,33922,78622,82022,496
Finishedgoods
7,4097,4157,6668,6228,6248,5068,8659,4059,76210,46710,82411,29111,70612,71113,55914,64815,67416,50917,06717,37918,43124,19924,71926,87229.15331,82334,71637,95642,62148,77649,02853,16753,05750,23452,75156,56059,68463.35960,68461,02860,86260,55560,79061,05061.64361,57963,15863,34763,05263,35963,75164,12863,91863,78063,34762,62661,89862,19662,45762,87263,801
1 Monthly average for year and total for month.2 Seasonally adjusted, end of period. Data beginning 1982 are not comparable with data for prior periods.
Note.—Data beginning 1958 are not strictly comparable with earlier data.
Source: Department of Commerce, Bureau of the Census.
359Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-55.—Manufacturers' new and unfilled orders, 1950-91
[Amounts in millions of dollars; monthly data seasonally adjusted]
Year or month
1950195119521953195419551956195719581959I9601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982 .198319841985198619871988...198919901990: Jan
FebMar
fczi:June.JulyAugsept:::"":::::::OctNovDec
1991: JanFebMar
it:::::::::JuneJulyAugsept:::::::::::::OctNov i
New orders1
Total
20,11023,90723,20423,58622,33527,46528,36827,55927,19330,71130,23231,11233,44035,51138,24042,13746,42047,06750,65753,99052,02255,92164,18276,00387,32785,13999,513115,109131,629147,604156,359168,025162,140175,451192,879195,706195,204209,389227,025240,758243,643234,819236,016246,422240,333245,318242,396245,039250,592248,987254,976239,237238,196234,462233,132226,431231,229236,540233,725248,090243,160237,624242,230242,991
Durable goodsindustries
Total
10,16512,84112,06112,14710,76814,99615,36514,11113,38715,97915,28815,75317,36318,67120,50723,28626,16325,80328,05129,87627,34029,90535,03842,62746,86241,95751,30761,03572,27879,48379,39283,65478,06488,140100,164102,356103,647110,809121,444128,651125,958121,419122,468131,030125,603129,936127,057129,387129,020126,893130,875116,193120,221117,789117,547112,116116,139118,434117,128130,827125,482120,092123,325123,859
Capitalgoodsindus-tries,non-
defense
6,3147,0466,0726,6827,7459,92611,5949,88611,49013,68117,58821,15421,13521,80619,21319,62423,66924,54523,98326,09630,72734,81634,03234,78431,94936,38532,55631,89032,50135,27431,60734,41937,22330,88438,56033,95733,75631,94028,74828,03829,28236,68930,99330,07831,09834,884
Non-durablegoods
industries
9,94511,06611,14311,43911,56612,46913,00313,44813,80514,73214,94415,35916,07816,84017,73218,85120,25821,26522,60624,11424,68226,01629,14433,37640,46543,18148,20654,07359,35168,12176,96784,37184,07787,31192,71593,35191,55798,579105,581112,107117,685113,400113,548115,392114,730115,382115,339115,652121,572122,094124,101123,044117,975116,673115,585114,315115,090118,106116,597117,263117,678117,532118,905119,132
Unfilled orders2
Total
41,45667,26675,85761,17848,26660,00467,37553,18346,60951,71744,21346,62447,79853,41764,51878,24996,846103,711108,377114,341105,008105,247119,349156,561187,043169,546178,128202,022259,168303,595327,421326,553311,893347,310373,607387,241393,629430,589472,223520,837527,195523,476520,680525,127526,797528,901526,695528,980528,070529,141532,164525,574527,195527,109527,026524,742521,085519,336513,943521,840523,106518,490515,586512,990
Durablegoods
industries
35,43563,39472,68058,63745,25056,24163,88050,35243,80748,36941,65043,58245,17050,34661,31574,45993,00299,735104,393110,161100,412100,225113,034149,204181,519161,664169,857193,321248,282291,324315,209314,718300,810333,159359,734372,175376,839408,894450,258499,494506,375502,214499,590503,851505,569507,614505,504508,360506,939508,049511,232504,732506,375506,516506,631504,260500,678498,088492,976500,809501,832496,959493,880491,193
Non-durablegoods
industries
6,0213,8723,1772,5413,0163,7633,4952,8312,8023,3482,5633,0422,6283,0713,2033,7903,8443,9763,9844,1804,5965,0226,3157,3575,5247,8828,2718,70110,88612,27112,21211,83511,08314,15113,87315,06616,79021,69521,96521,34320,82021,26221,09021,27621,22821,28721,19120,62021,13121,09220,93220,84220,82020,59320,39520,48220.40721,24820,96721,03121,27421,53121,70621,797
Unfilled orders— shipmentsratio3
Total
3.423.633.873.353.022.942.712.582.642.742.993.253.743.663.833.743.643.363.273.834.123.723.263.253.573.893.853.873.843.533.603.673.593.643.623.954.044.033.903.893.963.903.853.913.833.933.923.944.044.084.084.144.033.993.913.%3.923.883.823.79
Durablegoods
industries
4.124.274.554.003.623.473.293.083.183.313.593.864.484.374.644.504.404.063.884.554.974.503.903.874.204.624.584.684.744.294.374.474.404.444.424.804.974.964.784.774.884.784.714.804.684.834.804.864.975.035.045.134.944.894.774.864.804.744.674.62
Non-durablegoodsindus-tries
0.961.121.04.85.85.92.71.78.68.72.71.79.75.73.69.69.76.76.86.91.62.82.74.71.81.82.75.69.62.69.64.68.70.83.77.77.73.74.73.72.72.72.72.70.71.71.71.71.73.72.71.72.73.75.74.73.74.75.75.75
1 Monthly average for year and total for month. .2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual figures relate
to seasonally adjusted data for December.Note.—Data beginning 1958 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.
360Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
PRICES
TABLE B-56.—Consumer price indexes, major expenditure classes, 1950-92
[1982-84=100]
Year ormonth
19501951195219531954195519561957.19581959I96019611962..196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989199019911990: Jan
FebMar
fcJune ...JulyAugSept....OctNovDec
1991: JanFebMar
t-June ...JulyAugSept....OctNovDec
Allitems
24126.026.526.726.926.827228.128.929.129.629930.230.631.031532.433.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6
103.9107.6109.6113.6118.3124.0130.7136.2127.4128.0128.7128.9129.2129.9130.4131.6132.7133.5133.8133.8134.6134.8135.0135.2135.6136.0136.2136.6137.2137.4137.8137.9
Food andbeverages
Total1
•••-
35.036.238.140.141.443.148.855.560.262.165.872.279.986.793.597.399.5
103.2105.6109.1113.5118.2124.9132.1136.8130.0130.9131.2131.0131.1131.7132.4132.7133.0133.4133.7133.9135.9136.0136.3137.2137.3137.7137.1136.6136.7136.5136.9137.3
Food2
25428.228728.328.227.828.028.930229.730.030430.631131.532233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697.499.4
103.2105.6109.0113.5118.2125.1132.4136.3130.4131.3131.5131.3131.3132.0132.7132.9133.2133.6134.0134.2135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7
Housing
Total
30.832.034.036.438.039.441.245.850.753.857.462.470.181.190.496,999.5
103.6107.7110.9114.2118.5123.0128.5133.6125.9126.1126.8126.8127.1128.3129.2130.2130.5130.6130.4130.5131.8132.4132.6132.5132.8133.4134.2134.5134.7134.7134.7135.0
Shel-ter2
22.022.522.723.124.024.524.725.225.425.826.126.527.027.828.830.132.635.537.038.740.544.448.851.554.960.568.981.090.596.999.1
104.0109.8115.8121.3127.1132.8140.0146.3136.3136.6137.8138.0138.3139.5141.1142.4142.3142.4142.4142.7144.0144.6145.2145.2145.2145.8146.8147.3147.4147.7147.9148.2
Fuel andother
utilities2
22.522.623.023.624.324.825.426.026.326.326.626.626.626.727.127.428.029.131.132.534.340.745.449.454.758.564.875.486.494.9
100.2104.8106.5104.1103.0104.4107.8111.6115.3110.8110.2109.9109.4109.9112.2111.3112.7114.0113.4112.9112.7114.8114.7114.1113.1114.2115.8116.4116.2116.8115.7115.3116.0
House-hold
furnish-ingsand
-oper-ation
42"043.645.246.848.649.751.156.863.467.370.474.779.986.393.098.0
100.2101.9103.8105.2107.1109.4111.2113.3116.0112.1112.8112.8112.8113.2113.1113.6113.3113.8114.2113.8113.7114.1115.6115.7115.9116.3115.9116.3116.2116.4116.4116.5116.3
Appareland
upkeep
40.343.943.543.143.142.943.744.544.645.045.746.146.346.947.347.849.051.053.756.859.261.162.364.669.472.575.278.681.484.990.995.397.8
100.2102.1105.0105.9110.6115.4118.6124.1128.7116.7120.4125.4126.7125.5123.3120.8122.2126.8128.4127.5125.3123.8126.2128.8130.1129.4126.9125.2127.6131.3132.7132.9129.6
Trans-portation 2
22.724.125.726.526125.826.227.728.629.829.830.130.830.931.431.932.333.334.335.737.539.539.941.245.850.155.159.061.770.583.193.297.099.3
103.7106.4102.3105.4108.7114.1120.5123.8117.2117.1116.8117.31177118.2118.4120.6123.0125.81269127.2125.5123.7122.3122.2123.31237123.4123.8123.8124.0125.0125.3
Medicalcare2
15.115.916.717.317.818.218.919.720.621.522.322.923.524.124.625.226.328.229.931.934.036.137.338.842.447.552.057.061.867.574.982.992.5
100.6106.8113.5122.0130.1138.6149.3162.8177.0155.9157.5158.7159.8160.8161.9163.5165.0165.8167.1168.4169.2171.0172.5173.7174.4175.2176.2177.5178.9179.7180.7181.8182.6
Fjrter-tainment
40.743.045.247.550.051.552.956.962.065.168.371.976.783.690.196.0
100.1103.8107.9111.6115.3120.3126.5132.4138.4129.9130.4130.9131.4131.7131.9132.7133.0134.1134.3134.4134.6135.5136.2136.7137.7137.8138.1138.6139.2140.2140.5140,4139.9
Othergoodsand
services
35.136.938.740.942.944.746.449.853.957.060.464.368.975.282.691.1
101.1107.9114.5121.4128.5137.0147.7159.0171.6154.0154.7155.2155.8156.6157.8159.2160.4162.6163.2163.6164.5166.5167.4167.9168.8169.1170.0170.8172.2175.8176.2176.9177.6
F_ner-gy3
21.521.521.922.422.522.622.622.522.923.323.824.224.825.526.527.229.438.142.145.149.452.565.786.097.799.299.9
100.9101.688.288.689.394.3
102.1102.597.696.495.595.796.799.598.9
103.6108.8111.4110.9110.1107.1102.899.799.5
102.1103.5102.7102.9103.6101.8101.8101.9
1 Includes alcoholic beverages, not shown separately.2 See table B- 57 for components.3 See tables 6-58 for definition and B-57 for components.Note.—Data beginning 1978 are for ail urban consumers; earlier data are for urban wage earners and clerical workers.Data beginning 1983 incorporate a rental equivalence measure for homeowners' costs and therefore are not strictly comparable with
earlier figures.Source: Department of Labor, Bureau of Labor Statistics.
361Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Consumer price indexes, selected expenditure classes, 1950-91
[1982-84=100, except as noted]
Year or month
1950195119521953195419551956195719581959I9601961196219631964196519661967 .196819691970197119721973197419751976197719781979198019811982 .1983198419851986198719881989 .199019911990: Jan
FebMar
June:::::::::::July...Augsept::::::::'OctNovDec
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Food and beverages
Total »
35.036.238.140.141.443.148.855.560.262.165.872.279.986.793.597.399.5103.2105.6109.1113.5118.2124.9132.1136.8130.0130.9131.2131.0131.1131.7132.4132.7133.0133.4133.7133.9135.9136.0136.3137.2137,3137.7137.1136.6136.7136.5136.9137.3
Food
Total
25.428.228.728.328.227.828.028.930.229.730.030.430.631.131.532.233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697.499.4103.2105.6109.0113.5118.2125.1132.4136.3130.4131.3131.5131.3131.3132.0132.7132.9133.2133.6134.0134.2135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7
Athome
27.330.330.830.330.129.529.630.632.031.231.531.832.032.432.733.535.235.136.338.039.940.942.749.757.161.863.166.873.881.888.494.898.199.1102.8104.3107,3111.9116.6124.2132.3135.8131.0132.1131.9131.1130.9131.7132.5132.7132.9133.4133.8133.8136.4135.7136.0137.0136.9137.4136.0134.9134.9134.4135.0135.5
Awayfromhome
21.521.922.122.623.424.124.825.426.026.727.327.828.429.731.332.934.937.539.441.044.249.854.558.262.668.375.983.490.995.8100.0104.2108.3112.5117.0121.8127.4133.4137.9130.3131.0131.8132.5133.0133.4133.9134.3134.6135.0135.4135.7135.8136.2136.5137.1137.5137.9138.4138.7138.9139.1139.3139.6
Shelter
Total
22.022.522.723.124.024.524.725.225.425.826.126.527.027.828.830.132.635.537.038.740.544.448.851.554.960.568.981.090.596.999.1104.0109.8115.8121.3127.1132.8140.0146.3136.3136.6137.8138.0138.3139.5141.1142.4142.3142.4142.4142.7144.0144.6145.2145.2145.2145.8146.8147.3147.4147.7147.9148.2
Renters' costs
Total 2
1
103.0108.6115.4121.9128.1133.6138.9146.7155.6142.0143.5144.8144.7144.4145.3148.7150.7148.9148.9149.0149.5153.2154.4156.1155.1154.2155.1157.4158.1156.2156.1155.4155.8
Rent,resi-
dential
29730932233.935.135.636.337037.638238.739.239.740.140540.941.542.243.344.746.548.750.452.555.258.061 164869.374380.987.9946100.1105.3111.8118.3123.1127.8132.8138.4143.3135.8136.0136.5137.0137.3137.9138.7139.4140.0140.5140.7141.1141.2141.5142.0142.5142.8143.0143.7143.7144.6144.6145.0145.2
Home-owners'costs2
102.5107.3113.1119.4124.8131.1137.3144.6150.2141.1141.0142.2142.5143.1144.4145.4146.5147.0147.2147.3147.5147.9148.2148.4148.8149.2149.7150.2150.7151.6152.1152.6153.0
Mainte-nanceand
repairs
20.520.921.422.323.223.624.024.424.825.025.325.826.327.528.930.633.235.838.640.643.649.554.157.662.067.274.082.490.796.499.9103.7106.5107.9111.8114.7118.0122.2126.3120.4120.8121.2121.2122.2121.8122.1121.2124.6123.4123.9123.8124.1125.1124.2126.1126.9126.2126.9127.2126.8126.6127.6128.1
Fuel and other utilities
Total
22.522.623.023.624.324.825.426.026.326.326.626.626.626.727.127.428.029.131.132.534.340.745.449.454.758.564.875.486.494.9100.2104.8106.5104.1103.0104.4107.8111.6115.3110.8110.2109.9109.4109.9112.2111.3112.7114.0113.4112.9112.7114.8114.7114.1113.1114.2115.8116.4116.2116.8115.7115.3116.0
Fuels
Total
"Tu21.722.123.124.725.727.534.439.443.349.053.061.374.887.295.6100.5104.0104.599.297.398.0100.9104.5106.7104.5103.1102.3101.2101.9105.4104.5105.6107.6106.4105.4105.6107.7107.1105.7104.0105.4107.6108.2107.7108.5106.5105.5106.5
Fuel oilandotherhouse-holdfuelcom-
modities
11.311.812112.612.612.713.314013.713.913.814.114.214.414.414.615.015.516.016.317.018.218.321.133.236.438.843.946.262.486.1104.6103.497.299.495.977.677.978.181.799.394.6113.195.491.589.688.084.982.791.8104.4118.5117.0114.1111.2105.799.394.490.989.387.887.888.990.994.894.7
Gas(Piped)andelec-tricity(energyserv-ices)
19.219.319519.920.220.720.921 121.922.423.323.523.523.523.523.523.623.723.924.325.427.128.529.934.540.144.750.555.061.071.481.993.2101.5105.4107.1105.7103.8104.6107.5109.3112.6107.5108.3107.9106.8107.8112.4111.7111.6112.4109.0108.0108.6111.5111.5110.8109.4111.5114.4115.4114.7115.5112.9111.2112.4
Otherutilitiesand
publicservices
=
46.647.148.450.053.456.257.860.763.967.770.873.774.377.084.393.399.5107.2112.1117.9120.1122.9127.1131.7137.9129.3130.0130.7130.9131.2131.8130.8132.8132.9133.4133.7132.7135.0135.7136.3136.5137.3137.9138.5138.9139.2139.6140.1140.2
1 Includes alcoholic beverages, not shown separately.2 December 1982 = 100.See next page for continuation of table.
362Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-57.—Consumer price indexes, selected expenditure classes, 1950-91—Continued
[1982-84=100, except as noted]
Year or month
1950.195119521953195419551956195719581959 .1960196119621963196419651966196719681969197019711972 .1973197419751976 ..197719781979198019811982198319841985,1986198719881989199019911990- Jan
FebMarAprMayJuneJuly.Augsept"::::.:::::::::::::'":"GetNovDec
1991: JanFebMar
ftJuneJulyAucSeptoct'::::::::::::::::NovDec
Transportation
Total
22.724.125.726.526.125.826.227.728.629.829.830.130.830.931.431.932.333.334.335.737.539.539.941.245.850.155.159.061.770.583.193.297.099.3
103.7106.4102.3105.4108.7114.1120.5123.8117.2117.1116.8117.3117.7118.2118.4120.6123.0125.8126.9127.2125.5123.7122.3122.2123.3123.7123.4123.8123.8124.0125.0125.3
Private transportation
Total3
24.525.627.327.827.126.727.128.629.530.830.630.831.431.632.032.532.933.834.836.037.539.439.741.046.250.655.659.762.571.7
8i97.199.3
103.6106.2101.2104.2107.6112.9118.8121.9115.9115.8115.1115.5115.9116.4116.6119.0121.4124.2125.1125.1123.2121.2119.9120.2121.5121.9121.7122.0122.1122.4123.4123.4
Newcars
41.143.146.847.246.544.846.148.550.052.251.551.551.351.050.949.748.849.350.751.553.055.254.754.857.S62.966.970.475.881.888.493.797.499.9
102.8106.1110.6114.6116.9119.2121.0125.3122.3121.9121.3120.7120.7120.3119.8119.5119.0120.5122.1123.5124.6125.3125.4125.3125.4125.3124.9124.4124.1125.0126.6127.6
Usedcars
26.722.721.520.723.224.026.825.026.028.428.730.029.829.029.9
£31.233.033.135.236.743.850.354.755.860.262.376.988.898.7
112.5113.7108.8113.1118.0120.4117.6118.1118.9117.4116.6116.2116.9117.6118.2118.3118.3118.1117.2117.1116.1115.1114.4115.0117.0118.8120.4120.0119.8120.2120.6120.1
Motorfuel4
19.019.520.021.221.822.122.823.823.423.724.424.124.324.224.125.125.626.426.827.627.928.128.431.242.245.147.049.751.870.197.4
108.5102.899.497.998.777.180.280.988.5
101.299.491.490.689.391.292.594.694.3
103.2112.0118.9119.0117.1108.399.794.696.1
100.2100.598.299.399.898.399.498.4
Auto-mobilemainte-nanceand
repair
18.920.420.822.022.723.224.225.025.426.026.527.127.527.828.228.729.230.432.134.136.639.341.143.247.653.757.661.967.073.781.589.296.0
100.3103.8106.8110.3114.8119.7124.9130.1136.0127.3127.6128.8129.4129.4129.6130.2130.4131.5132.1132.5132.5133.1133.5134.1134.4134.7135.6136.4136.9137.8138.4138.5138.4
Other
37.939.241.645.248.648.948.450.253.561.867.269.975.284.391.497.798.8
103.5109.0115.1120.8127.9135.8142.5149.1140.3140.8140.7140.8140.8141.0142.1142,4143.0144.3146.2146.7147.3147.8147.7147.5147.7148.3149.0149.7149.7150.9151.8152.0
Publictranspor-
tation
13.414.815.816.818.018.519.219.920.921.522.223.224.024.324.725.226.127.428.730.935.237.839.339.740.643.547.850.051.554.969.085.694.999.5
105.7110.5117.0121.1123.3129.5142.6148.9134.2136.7139.1140.3140.9141.5141.6141.9144.0146.6150.3154.4155.4156.2153.3147.1146.0146.6146.7147.6146.6144.9147.0149.8
Medical care
Total
15.115.916.717.317.818.218.919.720.621.522.322.923.524.124.625.226.328.229.931.934.036.137.338.842.447.552.057.061.867.574.982.992.5
100.6106.8113.5122.0130.1138.6149.3162.8177.0155.9157.5158.7159.3160.8161.9163.5165.0165.8167.1168.4169.2171.0172.5173.7174.4175.2176.2177.5178.9179.7180.7181.8182.6
Medicalcarecom-
modities
39.740.841.241.542.042.543.444.646.146.846.946.345.645.245.145.045.144.945.045.446.547.347.447.549.253.356.560.264.469.075.483.792.3
100.2107.5115.2122.8131.0139.9150.8163.4176.8156.9158.6159.9161.3162.2163.3164.1164.8166.0166.8167.8169.1170.4171.6173.2174.3175.4176.5177.7178.9180.0180.3181.1181.7
Medicalcare
services
12.813.414.314.815.315.716.317.017.918.719.520.220.921.522.022.723.926.027.930.232.334.735.937.541.446.651.356.461.267.274.882.892.6
100.7106.7113.2121.9130.0138.3148.9162.7177.1155.7157.2158.5159.4180.5181.5163.4165.0165.8167.2163.S169.3171.1172.8173.8174.5175.1176.1177.5178.9179.7180.3181.9182.8
3 Includes other new vehicles, not shown separately. Includes direct pricing of new trucks and motorcycles beginning September1982.
«includes direct pricing of diesel fuel and gasohol beginning September 1981.
Note.--Data beginning 1978 are for ail urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, fable B- 56.Source: Department of labor, Bureau of Labor Statistics.
363Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-58.—Consumer price indexes, commodities, services, and special groups, 1950-91
[1982-84=100]
Year ormonth
19501951195219531954195519561957,,195819591960196119621963196419651966196719681969197019711972.1973197419751976 ... .19771978 ..19791980198119821983198419851986198719881989199019911990: Jan
FebMar....
fcJune...July...Aug...Sept..Oct....Nov...Dec...
1991: Jan....Feb....Mar...
fcJune..July...Aug...Sept..Oct....Nov...Dec...
Allitems
24.126.026.526.726.926.827.228.128.929.129.629.930.230.631.031.532.433.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6
103.9107.6109.6113.6118.3124.0130.7136.2127.4128.0128.7128.9129.2129.9130.4131.6132.7133.5133.8133.8134.6134.8135.0135.2135.6136.0136.2136.6137.2137.4137.8137.9
Commodities
Allcom-
modities
29.031.632.031.931.631.331.632.633.333.333.633.834.134.434.835.236.136.838.139.941.743.244.547.853.558.260.764.268.876.686.093.297.099.8
103.2105.4104.4107.7111.5116.7122.8126.6119.9120.6121.1121.4121.4121.6121.6122.8124.6126.1126.3126.0126.0125.7125.7126.4126.8126.7126.2126.4127.1127.2127.8127.5
Food
25.428.228.728.328.227.828.028.930.229.730.030.430.631.131.532.233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697499.4
103.2105.6109.0113.5118.2125.1132.4136.3130.4131.3131.5131.3131.3132.0132.7132.9133.2133.6134.0134.2135.8135.5135.8136.7136.8137.2136.5136.0136.0135.8136.2136.7
Commodities less food
All
31.433.834.134.233.833.633.934.935.335.836.036.136.336.636.937.237.738.640.041.743.445.146.147.752.857.660.563.867.575.385.793.196.9
100.0103.1105.2101.7104.3107.7112.0117.4121.3114.1114.6115.4115.9115.9115.8115.5117.2119.8121.8121.8121.4120.6120.3120.1120.7121.3120.9120.5121.1122.1122.4123.0122.4
Durable
34.937.538.037.736.836.136.137.237.838.438.138.138.538.639.038.838.939.440.742.244.146.046.948.151.557.460.964.468.675.483.089.695.199.8
105.1106.8106.6108.2110.4112.2113.4116.0113.8113.7113.4113.1113.2112.9113.0112.9112.8113.6114.1114.5115.0115.5115.5115.5115.9116.0116.3115.9115.9116.3117.0117.2
Non-durable
28.630.831.031.231.431.432.032.933.133.534.134.334.534.835.135.636.437.639.140.942.544.045.046.952.957.059.562.565.574.688.496.798.3
100.0101.7104.198.5
101.8105.8111.7119.9124.5114.2115.0116.5117.4117.5117.6117.0119.9124.1126.8126.6125.7124.0123.2122.9123.9124.6123.9123.0124.3125.9126.1126.7125.5
Services
Allservices
16.917.818.619.420.020.420.921.822.623.324.124.525.025.526.026.627.628.830.332.435.037.038.440.143.848.052.056.060.867.577.988.196.099.4
104.6109.9115.4120.2125.7131.9139.2146.3135.4136.0136.9137.1137.6138.8139.9140.9141.4141.7142.0142.3143.8144.5144.8144.7145.0145.8146.8147.3147.9148.1148.3148.8
Medi-cal
careserv-ices
12.813.414.314.815.315.716.317.017.918.719.520.220.921.522.022.723.926.027.930.232.334.735.937.541.446.651.356.461.267.274.882.892.6
100.7106.7113.2121.9130.0138.3148.9162.7177.1155.7157.2158.5159.4160.5161.5163.4165.0165.8167.2168.6169.3171.1172.8173.8174.5175.1176.1177.5178.9179.7180.8181.9182.8
Serv-icesless
medi-calcareserv-ices
22.823.624.225.025.425.926.326.827.428.329.330.832.935.637.538.940.644.348.352.255.960.767.578.288.796.499.2
104.4109.6114.6119.1124.3130.1136.8143.3133.4133.9134.7134.9135.3136.5137.5138.5139.0139.1139.4139.7141.1141.7142.0141.8142.1142.9143.8144.3144.8145.0145.1145.5
Special indexes
Allitemslessfood
23.825.325.926426626.627.128.028.629.229.730.030.330.731.131.632.333.434.936.839.040.842.043.748.052.556.059.663.971.281.590.496,399.7
104.0108.0109.8113.6118.3123.7130.3136.1126.7127.3128.1128.4128.7129.4130.0131.3132.6133.5133.7133.7134.3134.6134.8134.9135.4135.7136.1136.7137.4137.7138.0138.1
Allitemsless
energy
28.929.729.930.430.731.131.532.032.533.534.435.938.040.342.043.446.150.655.158.261.966.773.481.990.196.199.6
104.3108.4112.6117.2122.3128.1134.7140.9131.5132.3133.3133.5133.7134.2134.8135.6136.3136.9137.2137.4138.6139.3139.8140.2140.3140.5140.9141.3141.9142.3142.7142.8
Allitemslessfoodand
ener-gy
28.929.630.230.631.031.431.832.332.733.534.736.338.440.842.744.045.649.453.957.461.065.571.980.889.295.899.6
104.6109.1113.5118.2123.4129.0135.5142.1132.0132.8133.9134.2134.4134.8135.5136.4137.2137.8138.2138.3139.4140.3140.9141.1141.3141.5142.0142.7143.4143.9144.4144.4
Ener-gy1
21.521.521.922.422.522.622.622.522.923.323.824.224.825.526.527.229.438.142.145.149.452.565.786.097.799.299.9
100.9101.688.288.689.394.3
102.1102.597.696.495.595.796.799.598.9
103.6108.8111.4110.9110.1107.1102.899.799.5
102.1103.5102.7102.9103.6101.8101.8101.9
1 Household fuels—gas (piped), electricity, fuel oil, etc.—and motor fuel. Motor oil, coolant, etc. also included through 1982.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-56.Source: Department of Labor, Bureau of Labor Statistics.
364Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-59.—Changes in special consumer price indexes, 1958-91
[Percent change]
Year or month
19581959
1960 .19611962. .19631964
196519661967 . .19681969
19701971197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
1990: JanFebMar
ftJune
JulyAugSeptOctNovDec
1991: Jan.FebMarAprMay::"::.June
JulyAugsept".::.:::::OctNovDec
All items
Dec.to
Dec.1
1.81.7
1.4.7
1.31.61.0
1.93.53.04.76.2
5.63.33.48.7
12.3
6.94.96.79.0
13.3
12.58.93.83.83.9
3.81.14.44.44.6
6.13.1
Yearto
year
2.8.7
1.71.01.01.31.3
1.62.93.14.25.5
5.74.43.26.2
11.0
9.15.86.57.6
11.3
13.510.36.23.24.3
3.61.93.64.14.8
5.44.2
All items lessfood
Dec.to
Dec.1
1.82.1
1.01.31.01.61.0
1.63.53.35.05.6
6.63.02.95.6
12.2
7.36.16.48.3
14.0
13.09.84.14.13.9
4.1.5
4.64.24.5
6.33.3
Yearto
year
2.12.1
1.71.01.01.31.3
1.62.23.44.55.4
6.04.62.94.09.8
9.46.76.47.2
11.4
14.510.96.53.54.3
3.81.73.54.14.6
5.34.5
All items lessenergy
Dec.to
Dec.1
2.11.3
1.3.7
1.31.91.3
1.93.43.24.96.5
5.43.43.58.2
11.7
6.64.86.79.1
11.1
11.78.54.24.54.4
4.03.84.14.74.6
5.23.9
Yearto
year
2.8.7
1.71.01.31.31.6
1.63.12.74.45.8
6.14.23.36.29.8
8.95.66.47.8
10.0
11.610.06.73.64.7
3.93.94.14.44.7
5.24.6
All items less foodand energy
Dec.to
Dec.1
1.72.0
1.01.31.31.61.2
1.53.33.85.16.2
6.63.13.04.7
11.1
6.76.16.58.5
11.3
12.29.54.54.84.7
4.33.84.24.74.4
5.24.4
Yearto
year
2.42.0
1.31.31.31.31.6
1.22.43.64.65.8
6.34.73.03.68.3
9.16.56.37.49.8
12.410.47.44.05.0
4.34.04.14.44.5
5.04.9
All items less food,shelter, and energy
Dec.to
Dec.1
4.65.1
5.83.12.73.5
11.3
6.46.95.36.47.3
9.89.46.15.04.3
3.73.33.84.74.1
5.24.6
Yearto
year
4.74.7
5.24.92.42.97.7
8.97.16.05.66.9
8.89.67.75.25.0
3.83.43.84.24.4
4.95.2
Change from preceding period
Unad-justed
1.0.5.5.2.2.5
.4
.9
.8
.6
.20
.6
.1
.1
.1
.3
.3
.1
:4.1.3.1
Sea-sonally
ad-justed
0.9.5.4.2.2.6
.4
.8
.8
.6
.3
.3
.4
.21
.2
.3
.2
.2
.2
.4
.1
.4
.3
Unad-justed
0.7.5.6.2.2.5
.51.01.0.7.1
0
.4
.2
.1
.1
.4
.2
.3
.4
.5
.2
.2
.1
Sea-
"3*justed
0.8.6.4.3.2.5
.5
.8
.8
.7
.3
.3
.4
.311.4.1
.4
.3
.4
.1
.4
.3
Unad-justed
0.7.6.8.2.1.4
.4
.6
.5
.4
.2
.1
.9
.5
.4
.3
.1
.1
.3
.3
.4
.3
.3
.1
Sea-sonally
ad-justed
0.6.7.5.2.2.5
.5
.5
.4
.3
.4
.3
.8
.5
.2
.3
.1
.4
.2
.3
.3
.1
.4
.3
Unad-justed
0.4.6.8.2.1
.5
.7
.6
.4
.3
.1
.8
.6
.4
.1
.1
.1
.4
.5
.5
.3
.30
Sea-sonally
ad-justed
0.5.6.5.4.2.5
.5
.5
.4
.3
.3
.4
.8
.7
.1
.2
.2
.4
.4
.4
.4
.1
.3
.3
Unad-justed
0.3.8.8.3.2
0
.2
l'.0.7.3.1
.6
.9
.5
.1
.2-.1
.2
.6
.8
.4
.4-.1
Sea-sonally
ad-justed
0.5.8.5.3.3.3
.5
.4
.4
.4
.4
.4
.8
.9
.1
.1
.4
.3
.6
.3
.1
.4
.2
1 Changes from December to December are based on unadjusted indexes.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-56.Source: Department of Labor, Bureau of Labor Statistics.
365Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-60.—Changes in consumer price indexes, commodities and services, 1929-91
[Percent change]
Year
1929
1933
1939
19401941194219431944
19451946194719481949
19501951195219531954
19551956195719581959
19601961196219631964
19651966196719681969
19701971......197219731974
19751976197719781979
19801981198219831984
19851986198719881989
19901991
All items
Dec.to
Dec.1
0.6
.8
0
.79.99.03.02.3
2.218.18.83.0
-2.1
5.96.0
.8
.7_ i
A3.02.91.81.7
1.4.7
1.31.61.0
1.93.53.04.76.2
5.63.33.48.7
12.3
6.94.96.79.0
13.3
12.58.93.83.83.9
3.81.14.44.44.6
6.13.1
Yearto
year
0
-5.1
-1.4
.75.0
10.96.11.7
2.38.3
14.48.1
-1.2
1.37.91.9.8.7
-.41.53.32.8
.7
1.71.01.01.31.3
1.62.93.14.25.5
5.74.43.26.2
11.0
9.15.86.57.6
11.3
13.510.36.23.24.3
3.61.93.64.14.8
5.44.2
Commodities
Total
Dec.to
Dec.1
-0.7
1.413.312.94.22.0
2.924.810.31.7
-4.1
7.85.9-.9-.3
-1.6
-.32.62.81.2.6
1.20
.91.5.9
1.42.52.54.05.4
3.92.33.4
10.412.8
6.23.36.18.8
13.0
11.06.03.62.92.7
2.5-2.0
4.63.84.1
6.61.2
Yearto
year
-2.0
.76.7
14.59.31.0
3.010.620.5
7.2-2.7
.79.01.3
-!9
_ gLO3.22.10
.9
.6
.9
.91.2
1.12.61.93.54.7
4.53.63.07.4
11.9
8.84.35.37.2
11.3
12.38.44.12.93.4
2.1-.93.23.54.7
5.23.1
Food
Dec.to
Dec.1
2.5
6.9
-2.5
2.515.717.93.00
3.531.311.3
8-3.9
9.87.1
-1.0— 1 1-L8
-.72.92.82.4
-1.0
3.1-.71.32.01.3
3.54.01.24.47.0
2.34.34.6
20.312.0
6.6.5
8.111.810.2
10.24.33.12.73.8
2.63.33.55.25.5
5.31.9
Yearto
year
12
-28
-2.5
1.79.2
17.611.0
-1.2
2.414.521.78.3
-4.2
1.611.01.8
-1.4_ 4
14.7
3.24.5
-1.7
1.01.3
L61.3
2.25.0.9
3.55.1
5.73.14.2
14.514.3
8.53.06.39.9
11.0
8.67.84.12.13.3
2.33.24.14.15.8
5.82.9
Commoditiesless food
Dec.to
Dec.1
0.5
.510.7635.54.7
3.312.79.25.2
-4.6
5.54.9-.6
.3-1.5
02.72.0.8
1.4
-.3.8.6
1,4
.81.93.13.64.7
4.72.22.64.9
13.2
6.15.14.87.7
14.3
11.56.73.83.12.1
2.4-5.3
5.13.23.3
7.4.8
Yearto
year
-1.6
.55.4
10.84.65.3
4.26.0
12.97.4
-1.3
-.37.6.9
-L2
-.6.9
2.91.11.4
.6
.3
.6
.8
.8
.81.32.43.64.3
4.13.92.23.5
10.7
9.15.05.55.8
11.6
13.88.64.13.23.1
2.0-3.3
2.63.34.0
4.83.3
Services
Total
Dec.to
Dec.1
0
.82.42.32.32.2
.73.65.65.93.7
3.65.24.44.22.0
2.03.44.22.73.9
2.52.11.62.41.6
2.74.84.35.87.7
8.14.13.46.2
11.4
8.27.28.G9.3
13.6
14.213.04.34.85.4
5.14.54.34.85.1
5.74.6
Yearto
year
0
.8
.83.12.32.2
1.5144.36.15.1
3.05.34.54.33.1
2.02.54.33.73.1
3.41.72.02.02.0
2.33.84.35.26.9
8.05.73.84.49.2
9.68.37.78.6
11.0
15.413.19.03.55.2
5.15.04.24.64.9
5.55.1
Medical careservices
Dec.to
Dec.1
1.2
01.23.55.63.2
3.19.06.46.91.6
4.05.35.83.42.6
3.23.84.84.64.9
3.73.52.92.82.3
3.68.38.07.17.3
8.15.43.76.0
13.2
10.310.89.09.3
10.5
10.112.611.26.25.8
6.87.95.66.98.6
9.98.0
Yearto
year
1.2
003.54.54.3
3.15.18.77.13.3
2.44.76.73.53.4
2.63.84.35.34.5
4.33.63.52.92.3
3.25.38.87.38.2
7.07.43.54.5
10.4
12.610.19.98.59.8
11.310.711.88.76.0
6.17.76.66.47.7
9.38.9
Energy2
Dec.to
Dec.1
-0.94.7
1.3-1.3
2.2-.90
1.81.71.71.72.9
4.83.12.6
17.021.6
11.47.17.27.9
37.5
18.011.91.3
_ 5'.2
1.8-19.7
8.2
s!i18.1
-7.4
Yearto
year
01.9
2.3.4.4
0-.4
1.81.72.11.72.5
2.83.92.68.1
29.6
10.57.19.56.3
25.1
30.913.61.5
.71.0
.7-13.2
'.85.6
8.3.4
1 Changes from December to December are based on unadjusted indexes,8 Household fuels-gas (piped) electricity, fuel oil, etc.-and motor fuel. Motor oil, coolant, etc. also included through 1982.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-56.
Source: Department of Labor, Bureau of Labor Statistics.
366Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Producer price indexes by stage of processing, 1947-91
[1982=100]
Year or month
194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991 » ...1990: Jan
FebMarAorMay .I:::::::::":::::::::'JuneJulyAug..sept :.::::: :::::::..::OctNov...Dec
1991: JanFebMarAprMayJune .JulyAug lSeptoc?..: :NovDec
Finished goods
Totalfinishedgoods
26.428.527.728.230.830.630.330.430.531.332.533.233.133.433.433.533.433.534.135.235.636.638.039.340.541.845.652.658.260.864.769.877.688.096.1100.0101.6103.7104.7103.2105.4108.0113.6119.2121.7117.6117.4117.2117.2117.7117.8118.2119.3120.4122.3122.9122.0122.3121.4120.9121.1121.8121.9121.6121.7121.3122.3122.3121.9
Consumer foods
Total
31.934.932.132.736.736.434.534.233.433.334.436.534.835.535.435.735.335.436.839.238.540.042.443.844.546.956.564.469.869.673.379.987.392.497.8100.0101.0105.4104.6107.3109.5112.6118.7124.4124.2123.9124.6124.4123.2124.5124.2124.9124.9124.2124.6125.0124.2124.8124.6125.2125.3125.8125.3124.5123.3122.7123.0123.1122.2
Crude
39.342.440.136.541.944.641.637.539.139.138.541.037.339.838.038.437.838.939.041.539.642.545.946.045.848.063.671.671,776.779.585.892.393.9104.4100.0102.4111.4102.9105.6107.1109.8119.6123.0119.7148.8152.7138.6118.7112.9108.6113.4112.1109.1117.4126.3117.9124.3118.8125.0128.2137.8130.3121.8112.1110.1105.7116.0106.1
Proc-essed
31.134.031.132.436.235.433.634.032.732.734.136.134.735.235.335.635.235.236.839.238.840.042.343.944.747.255.863.970.369.072.779.486.892.397.2100.0100.9104.9104.8107.4109.6112.7118.6124.4124.4122.0122.5123.3123.5125.3125.3125.7125.8125.2125.1124.8124.6124.7124.9125.1125.1124.9124.8124.7124.1123.5124.2123.5123.4
Finished goods excluding consumer foods
Total
35.035.936.938.239.640.442.048.854.758.162.266.774.686.795.6100.0101.8103.2104.6101.9104.0106.5111.8117.4120.9115.5115.1114.8115.2115.5115.7116.0117.4119.1121.5122.1121.3121.4120.4119.5119.7120.5120.8120.7121.1120.8122.0122.0121.7
Consumer goods
Total
27.429.228.629.031.130.731.031.131.332.132.932.933.333.533.433.433.433.333.634.134.735.536.337.438.739.441.248.253.256.560.664.973.587.196.1100.0101.2102.2103.398.5100.7103.1108.9115.3118.7113.2112.4111.8112.2112.7112.9113.2115.1117.7120.6121.4120.0119.8118.2117.0117.2118.2118.6118.4119.0118.8119.7119.7119.3
Durable
32.935.236.136.538.939.239.539.840.241.642.843.443.943.843.643.443.143.343.243.444.145.145.947.248.950.050.955.561.063.767.473.680.891.096.4100.0102.8104.5106.5108.9111.5113.8117.6120.4123.9119.1119.4119.2119.3119.4120.3120.4119.9119.9122.7122.8122.9123.5123.9124.0123.7123.2123.1123.1122.9121.8126.0126.0125.6
Non-durable
24.225.724.725.127.026.326.626.726.827.327.927.828.228.428.428.428.528.428.829.330.030.631.532.533.534.136.144.048.952.456.860.069.385.195.8100.0100.5101.1101.793.394.997.3103.8111.5115.0109.2107.9107.1107.7108.3108.3108.6111.5115.1118.0119.0117.2116.7114.4112.8113.2114.6115.2115.0115.8115.9115.7115.7115.2
Capitalequipment
19.821.622.723.225.525.926.326.727.429.531.332.132.732.832.933.033.133.433.834.635.837.D38.340.141.742.844.250.558.262.166.171.377.585.894.6100.0102.8105.2107.5109.7111.7114.3118.8122.9126.7121.2121.6121.9122.2122.2122.5122.8123.1122.9124.5124.7124.9125.9126.1126.2126.2126.5126.5126.6126.5126.1127.9127.9128.0
Totalfinishedconsumergoods
28.630.829.429.932.732.331.731.731.532.032.933.633.333.633.633.733.533.634.235.435.636.537.939.140.241.546.053.158.260.464.369.477.588.696.6100.0101.3103.3103.8101.4103.6106.2112.1118.2120.4116.7116.4115.9115.8116.5116.6117.0118.3119.8121.9122.6121.4121.4120.3119.6119.8120.6120.7120.4120.4120.1120.8120.9120.3
1 Data have been revised through August 1991 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.
See next page for continuation of table.
367Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-61.—Producer price indexes by stage of processing, 1947-91—Continued
[1982=100]
Year or month
194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979 ,1980198119821983198419851986 '.19871988.198919901991 »..1990: Jan
FebMar
May"JuneJulyAug .SeptOctNovDec
1991: JanFebMar
fciJuneJulyAug »SeptOctNovDec..........
Intermediate materials, supplies, and components
Total
23.325.224.225.328.427.527.727.928.429.630.330.430.830.830.630.630.730.831.232032.233.034.135.436.838.242.452.558.060.964.969.578.490.398.6
100.0100.6103.1102.799.1
101.5107.1112.0114.5114.4113.4112.5112.4112.8113.1113.1113.1114.4116.3117.9117.9116.7116.4115.5114.2113.9114.0114.3114.0114.2114.5114.1114.1113.7
Foodsand
feeds'
III.'
41.841.542.945.646.749.570.383.681.677.479.684.894.5
105.5104.6100.0103.6105.797.396.299.2
1095113.8113.3111.1113.2111.0111.4112.5115.9115.5116.0114.9113.9113.0111.2111.5110.4110.7111.6111.5110.8110.8110.0111.5111.4111.8111.4111.4
Other
22.224.123.524.627.626.727.027.228.029.330.130.130.530.730.330.230.130.330.731.331.732.533.634.836.237.740.650.556.660.064.168.677.489.498.2
100.0100.5103.0103.099.3
101.7106.9111.9114.5114.6113.4112.5112.5112.8112.9113.0113.0114.4116.4118.1118.2117.0116.8115.7114.4114.1114.2114.5114.2114.4114.7114.2114.3113.8
Materials andcomponents
Formanufac-
turing
24.926.825.726.930.529.329.729.830.532.032.732.833.333.332.932.732.733.133.634.334.535.336.538.038.940.444.156.061.764.067.472.080.991.798.7
100.0101.2104.1103.3102.2105.3113.2118.1118.7118.1117.6117.5117.9118.2118.4118.3118.5118.7119.3120.0120.1119.8119.9119.6118.9118.5118.1117.8117.4117.3117.4117.5117.4117.3
Forcon-
struction
22.524.924.926.228.728.529.029.130.331.832.032.032.932.732.232.132.232.532.833.634.035.737.738.340.843.046.555.060.164.169.376.584.291.397.9
100.0102.8105.6107.3108.1109.8116.1121.3122.9124.5121.8121.9122.5123.0123.2122.8123.0123.0123.3123.4123.4123.5124.0123.9124.0124.3124.5125.2125.3124.7124.7124.5124.4124.5
Proc-essedfuelsand
lubri-cants
14.416.414.915.215.915.715.815.815.816.317.216.216.216.616.816.716.616.216.516.816.916.516.617.719.520.122.233.639.442.347.749.961.685.0
100.6100.095.495.792.872.773.371.276.485.985.284.279.477.878.078.479.478.785.794.1
100.6100.094.091.787.582.881.883.485.084.686.086.984.884.983.2
Con-tainers
23.424.424.525.229.628.028.028.528.931.032.433.233.033.433.233.633.232.933.534.535.0
. 35.937.239.040.842.745.253.360.063.165.971.079.489.196.7
100.0100.4105.9109.0110.3114.5120.1125.4127.7128.2127.3127.4127.4127.8127.7127.6127.5127.5127.5127.8128.3128.2129.0128.S128.7128.3128.1127.7127.9127.4127.9127.9128.3128.1
Supplies
28.529.828.029.032.632.631.031.731.232.032.333.133.533.333.734.535.034.735.036.536.837.137.839.740.842.551.756.861.865.869.372.980.289.996.9
100.0101.8104.1104.4105.6107.7113.7118.1119.4121.4118.8118.5118.7118.9119.4119.2119.5119.4119.7120.1120.2120.4120.9121.1121.3121.4121.3121.4121.1121.5121.6121.7121.8121.8
Crude materials for further processing
Total
31.734.730.132.737.634.531.931.630.430.631.231.931.130.430.230.529.929.631.133.131.331.833.935.236.039.954.561.461.663.465.573.485.995.3
103.0100.0101.3103.595.887.793.796.0
103.1108.9101.2106.5106.8105.6103.0104.7101.2101.4110.2115.3124.8116.7110.5112.8104.1101.2100.8102.199.899.599.198.099.699.797.7
Food-stuffsand
feed-stuffs
45.148.840.543.450.247.342.342.338.437.639.241.638.838.437.938.637.536.639.242.740.340.944.145.2
- 46.151.572.676.477.476.877.587.3
100.0104.6103.9100.0101.8104.794.893.296.2
106.1111.2113.1105.5113.5113.9115.3115.1117.0115.6115.4113.2110.8110.5108.5107.9107.2107.3109.9109.0108.7107.4105.1102.7102.9102.5101.6101.9
Other
Total
21.121.622.523.824.727.034.344.143.748.251.757.569.684.6
101.8100.0100.7102.296.981.687.985.593.4
101.594.697.597.694.991.092.588.088.3
103.4112.9127.8116.4107.1110.897.992.392.294.291.592.393.091.393.894.391.3
Fuel
7.58.98.88.89.09.09.38.98.99.5
10.110.210.410.510.510.410.510.510.610.911.311.512.013.815.716.818.624.830.634.542.048.257.369.484.8
100.0105.1105.1102.792.284.182.185.384.882.886.887.386.084.784.883.086.880.481.781.285.289.888.585,684.881.784.082.581.481.878.077.782.085.4
Other
24.026.724.327.832.027.826.626.127.528.628.227.128.126.927.227.126.727.227.728.326.527.128.429.129.432.342.954.550.054.956.361.975.591.8
109.8100.098.8
101.094.376.088.585.995.8
107.397.5
101.0100.897.692.794.689.087.8
112.0124.8146.3128.3113.2120.4101.092.294.295.992.494.895.695.499.897.690.1
2 Intermediate materials for food manufacturing and feeds.Source: Department of Labor, Bureau of Labor Statistics.
368Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-62.—Producer price indexes by stage of processing, special groups, 1974-91
[1982=100]
Year or month
1974
19751976197719781979.. ..
19801981198219831984
19851986 '"198719881989
19901991 2
1990: JanFebMar
£ EJulyAugSeptOctNovDec
1991: JanFebMar
fc=June
JulyAug 2
SeptOctNovDec
Finishedgoods
Total
52.6
58.260.864.769.877.6
88.096.1
100.0101.6103.7
104.7103.2105.4108.0113.6
119.2121.7
117.6117.4117.2117.2117.7117.8
118.2119.3120.4122.3122.9122.0
122.3121.4120.9121.1121.8121.9
121.6121.7121.3122.3122.3121.9
Foods
64.4
69.869.673.379.987.3
92.497.8
100.0101.0105.4
104.6107.3109.5112.6118.7
124.4124.2
123.9124.6124.4123.2124.5124.2
124.9124.9124.2124.6125.0124.2
124.8124.6125.2125.3125.8125.3
124.5123.3122.7123.0123.1122.2
Ener-gy
26.2
30.734.339.742.357.1
85.2101.5100.095.291.2
87.663.061.859.865.7
75.078.1
72.769.267.068.068.567.6
68.174.282.088.189.584.7
82.678.475.575.778.078.4
77.578.879.178.378.276.6
Excluding foods andenergy
Total
53.6
59.763.166.971.978.3
87.194.6
100.0103.0105.5
108.1110.6113.3117,0122.1
126.6131.0
124.8125.2125.4125.6125.9126.4
126.7126.7126.7128.2128.5128.8
129.9130.2130.3130.5130.5130.8
131.0131.0130.5132.4132.5132.8
Cap-ital
equip-ment
50.5
58.262.166.171.377.5
85.894.6
100.0102.8105.2
107.5109.7111.7114.3118.8
122.9126.7
121.2121.6121.9122.2122.2122.5
122.8123.1122.9124.5124.7124.9
125.9126.1126.2126.2126.5126.5
126.6126.5126.1127.9127.9128.0
Con-sumergoodsexclud-
ingfoodsand
energy
55.5
60.663.767.372.278.8
87.894.6
100.0103.1105.7
108.4111.1114.2118.5124.0
128.8133.7
127.0127.4127.5127.7128.1128.8
129.0128.9129.0130.3130.8131.2
132.3132.7132.8133.1132.9133.3
133.7133.7133.2135.2135.3135.7
Intermediate materials, supplies,and components
Total
52.5
58.060.964.969.578.4
90.398.6
100.0100.6103.1
102.799.1
101.5107.1112.0
114.5114.4
113.4112.5112.4112.8113.1113.1
113.1114.4116.3117.9117.9116.7
116.4115.5114.2113.9114.0114.3
114.0114.2114.5114.1114.1113.7
Foodsand
feeds*
83.6
81.677.479.684.894.5
105.5104.6100.0103.6105.7
97.396.299.2
109.5113.8
113.3111.1
113.2111.0111.4112.5115.9115.5
116.0114.9113.9113.0111.2111.5
110.4110.7111.6111.5110.8110.8
110.0111.5111.4111.8111.4111.4
Ener-gy
33.1
38.741.546.849.161.1
84.9100.5100.095.395.5
92.672.673.070.976.1
85.585.0
83.779.077.477.778.079.0
78.485.393.6
100.199.793.7
91.587.482.781.783.284.8
84.485.786.684.684.682.8
Other
54.0
60.263.867.672.580.7
90.397.7
100.0101.6104.7
105.2104.9107.8115.2120.2
120.9121.4
120.0120.0120.3120.6120.7120.5
120.6120.8121.4122.0122.2
122.08
122.4122.2121.8121.6121.4121.4
121.1120.9121.0121.1121.1121.0
Crude materials for furtherprocessing
Total
61.4
61.663.465.573.485.9
95.3103.0100.0101.3103.5
95.887.793.796.0
103.1
108.9101.2
106.5106.8105.6103.0104.7101.2
101.4110.2115.3124.8116.7110.5
112.8104.1101.2100.8102.199.8
99.599.198.099.699.797.7
Food-stuffsand
feed-stuffs
76.4
77.476.877.587.3
100.0
104.6103.9100.0101.8104.7
94.893.296.2
106.1111.2
113.1105.5
113.5113.9115.3115.1117.0115.6
115.4113.2110.8110.5,108.5107.9
107.2107.3109.9109.0108.7107.4
105.1102.7102.9102.5101.6101.9
Ener-gy
27.8
33.335.340.445.254.9
73.197.7
100.098.798.0
93.371.875.067.775.9
85.980.4
82.382.678.673.174.569.4
69.787.298.5
117.0104.193.5
97.683.177.076.779.277.1
78.379.077.180.181.177.9
Other
83.3
69.380.279.887.8
106.2
113.1111.7100.0105.3111.7
104.9103.1115.7133.0137.9
136.3128.1
132.1131.3134.2137.8138.8137.8
138.2140.4140.1137.8134.6132.8
133.5133.4132.2132.7131.4126.8
125.9126.0125.8125.0122.8122.2
1 Intermediate materials for food manufacturing and feeds.2 Data have been revised through August 1991 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.
Source: Department of Labor, Bureau of Labor Statistics.
369Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Producer price indexes for major commodity groups, 1950-91
[1982=100]
Year or month
195019511952195319541955195619571958195919601961196219631964196519661967 . .196819691970 . . .197119721973197419751976197719781979198019811982 ....1983198419851986. ...19871988198919901991 2
1990- JanFebMarApritfay:.:...::::::::::::::::::::::::::::::June... .JulyAugSeptOctNov.Dec
1991- JanFeb...,MarAprMay.June.. . . ..... ..JulyAug 2. ..SeptOctNovDec
Farm products and processedfoods and feeds
Total
37.743.041.338.638.536.636.437.739.437.637.737.738.137.737.539.041.640.241.143.444.945.849.263.971.374.073.675.983.092.398.3
101.1100.0102.0105.5100.7101.2103.7110.0115.4118.6116.4118.3118.4118.9118.5120.1119.6120.0119.1117.9117.9117.3116.8117.C117.1118.3118.1118.3117.6116.3115.2115.0115.0114.8114.5
Farmproducts
44.051.248.443.843.240.540.041.142.940.240.139.740.439.639.040.743.741,342.345.045.846.651.672.777.477.078.879.487.799.6
102.9105.2100.0102.4105.595.192.995.5
104.9110.9112.2105.6114.9115.7115.3113.3113.7113.6113.8111.4109.2109,5108.5107.2106.9106.91097109.6110.4109.1105.6102.9102.8101.2101.4100.7
Processedfoods and
feeds
33.236.936.434.835.433.833.834.836.535.635.636.236.536.836.738.040.239.840.642.744.645.548.058.968.072.670.874.080.688.595.998.9
100.0101.8105.4103.5105.4107.91127117.8121.9121.9120.2120.0120.9121.2123.5122.8123.2123.0122.4122.2121.7121.7122.1122.31226122.5122.3121.9121.6121.4121.1122.0121.5121.4
industrial commodities
Total
25.027.626.927.227.227.829.129.930.030.530.530.430.430.330.530.931.532.032.833.935.236.b37.840.349.254.958.462.567.075.788.097.4
100.0101.1103.3103.7100.0102.6106.3111.6115.8116.5114.1113.6113.2113.2113.5113.2113.4115.9118.41214120,7119.01193117.2115.7115.6116.1116.1116.0116.3116.2116.6115.7116.1
Textileproducts
andapparel
50.256.050.549.348.248.248.248.347.448.148.647.848.248.?48.548.848.948.950.751.852.453.355.560.568.067.472.475.378.182.589.797.6
100.0100.3102.7102.9103.2105.1109.2112.31150116.3114.6114.6114.7114.9114.8115.0115.1115.1115.1115.1115.3115.2115.7115.8115.9116.0116.0116.2116.3116.5116.5116.6116.8116.9
Hides,skins,
leather,and
relatedproducts
32.937.730.531.029.529.431.231.231.635.934.634.935.334.334.435.939.438.139.341.542.043.450.054.555.256.563.968.376.196.194.799.3
100.0103.2109.0108.9113.0120.4131.4136.3141.7138.S138.9141.7141.6142.S143.7143.0142.8142.2141.4140.9140.5140.6140.2140.0140.4141.1140.4140.0138.3138.1137.1136.5137.0137.6
Fuels andrelated
products,and
power l
12.613.013.013.413.213.213.614.313.713.713.914.014.013.913.513.814.114.414.314.615.316.617.119.430.135.438.343.646.558.982.8
100.2100.095.994.891.4S9.870.266 J72.982.381.279.877.074.673.474.172.872.782.491.3
101.097.490.590.i83.078.578.180.280.380.181.381.281.081.379.1
Chemicalsand alliedproducts l
30.434.833.033.433.833.733.934.634.934.834.834.533.933.533.633.934.034.234.134.235.035.635.637.650.262.064.065.968.076.089.098.4
100.0100.3102.9103.7102.6106.4116.3123.0123.6125.6121.2121.7121.8121.9122.3122.2122.4122.5124.5126.5128.2127.9128.3128.1126.0126.0125.3125.0124.4124.5124.3124.9125.0124.9
1 Prices for some items in this grouping are lagged and refer to 1 month earlier than the index month.2 Data have been revised through August 1991 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.
370Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-63.—Producer price indexes for major commodity groups, 1950-91—Continued
[1982=100]
Year or month
195fl1951195219531954....195519561957.19581959I96019611962..1963196419651966196719681969197019711972197319741975...197619771978197919801981....198219«31984....198519861987.1988198919901991 2
1990: Jan .FebMarAprMayJuneJulyAugSeptOctNov.. . .Dec
1991: JanFebMarAprMayJuneJulyAug 2
sept.:::..::::::OctNovDec
Industrial commodities— Continued
Rubberand
plasticproducts
35.643.739.636.937.542.443.042.842.842.642.741.139.940.139.639.740.541.442.843.644.945.245.346.656.462.266.069.472.480.590.196.4
100.0100.8102.3101.9101.9103.0109.3112.6113.6115.2113.2112.9113.3113.3113.5113.2113.1113.2113.4114.2115.0115.4116.0116.0115.8115.5115.2115.0114.8114.7114.9114.7114.6114.7
Lumberand
woodproducts
31.434.133.233.132.534.134.632.832.534.733.532.032.232.833.533.735.235.139.844.039.944.750.762.264.562.172.283.096.9
105.5101.5102.8100.0107.9108.0106.6107.2112.8118.9126.7129.7132.0129.0129.7130.5132.4132.0130.7131.3130.2129.3127.5126.9126.8127.6127.2127.8129.2132.3136.2136.9133.3133.0133.3133.3134.3
Pulp,paper,
andallied
products
25.73©.529.729.629.636.432.433.033.433.734.033.033.433.133.033.334.234.635.036.037.538.139.342.352.559.062.164.667.775.986.394.8
100.0103.3110.3113.3116.1121.8130.4137.8141.2143.0140.3140.5140.7140.9141.1141.0141.1141.1141.3142.0142.3142.3143.6143.8143.7143.2143.0142.7142.3142.2142.6142.9143.0142.7
Metalsand
metalproducts
22.024.524.525.325.527.229.630.230.030.630.630.530.230.331.132.032.833.234.036.038.739.440.944.057.061.565.069.375.386.095.099.6
100.0101.8104.8104.4103.2107.1118.7124.1122.9120.3121.7120.9122.0122.9123.1122.6122.9124.2124.6124.5123.3122.4122.4121.9121.5121.3120.5119.7119.6119.5119.6119.5119.1118.7
Machineryafld
equipment
22.625.325.325.926.327.223.331.432.132.833.033.033.033.133.333.734.735.937.038.240.041.442.343.750.057.961.365.270.376.786.094.4
100.0102.7105.1107.2108.8110.4113.2117.4120.7123.0119.6119.7120.0120.2120.4120.5120.8120.9121.2121.4121.7122.0122.6122.9123.0123.1123.1123.1123.0123.0123.0123.0123.1123.1
Furnitureand
householddurables
48.944.443.544.444.945.146.347.547.946.047.847.547.246.947.146.847.448.349.750.751.953.153.855.761.867.570.373.277.582.890.795.9
100.0103.4105.7107.1108.2109.9113.1116.9119.2121.2118.4118.7118.7119.0119.0119.2119.1119.2119.3119.5119.8120.0120.6120.9121.0121.2121.2121.2121.2121.2121.3121.4121.4121.4
Non-metatiicmineral
products
23.525.025.026.02€.627.32«.529.629.930.330.430.530.539.330.430.430.731.232.433.635.338.239.440.747.854.458.262.669.677.688.496.7
100.0101.6105.4108.6110.0110.0111.2112.6114.7117.2113.8113.9114.2114.3114.5114.6114.6114.7115.0115.3115.8115.8116.9117.2117.4117.3117.3117.3117.2117.1117.3117.3117.4117.2
Transportationequipment
Total
40.441.944.245.546.150.356.760.564.669.575.382.994.3
100.0102.8105.2107.9110.5112.5114.3117.7121.5126.4119.7120.2120.3120.5120.4121.0121.2121.1121.0124.0124.2124.2125.2125.7125.7125.5125.6125.6125.7126.0124.8128.9128.9128.9
vehiclesand
e*uif»-meflt
36.931.633.433.333.434.336.337.939.039.939.339.239.238.939.139.239.239.840.941.743.345.747.047.451.457.661.265.270.075.883.194.6
100.Q102.2104.1106.4109.1111.7113.1116.2118.2122.1117.2117.3117.0116.9116.6117.6117.8117.2116.7121.6121.5121.5121.9122.4122.2121.5120.7120.6120.5120.6118.6125.6125.5125.0
Miscella-neous
products
28.63«.330.231.©31.331.331.732.633.333.433.633.733.934.234.434.735.336.237.038.139.840.841.543.348.153.455.659.466.775.593.696.1
100.0104.8107.0109.4111.6114.9120.2126.5134.2140.9131.2131.9132.0132.3133.2134.4134.6134.9135.3135.9136.9138.2139.1138.9139.4140.0140.1140.9141.8141.7141.4141.7141.7143.5
Source: Departtnent of Labor, Bureau of Labor Statistics.
371Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-64.—Changes in producer price indexes for finished goods, 1955-91
[Percent change]
Year or month
19551956195719581959I96019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989.. .19901991 2
1990: JanFebMar
fc=JuneJulyAugSeptOctNov ,..Dec
1991: JanFebMar
fc:::::JuneJulyAug 2
sr-NovDec
Totalfinishedgoods
Dec. toDec.1
1.04.23.4.3
-.31.8
6,3
_ 3.6
3.32.01.73.14.92.13.33.9
11.718.36.63.86.79.3
12.811.87.13.6.6
1.71.8
-2.32.24.04.95.7-.1
Yearto year
0.32.63.82.2-.3
.90
.3_ 3
.31.83.21.12.83.83.43.13.29.1
15.410.64.56.47.9
11.213.49.24.11.62.11.0
-1.42.12.55.24.92.1
Finishedconsumer
foods
Dec. toDec.1
-3.03.75.1.6
-3.75.3
-1.9.6
-14.6
9.11.3
34.68.1
-2.35.87.9
22.712.85.6256.9
11.77.47.51.52.02.33.5
.62.8
5.75.22.616
Yearto year
-2.3-.33.38.1
-4.72.0-.3
.8-11
.34.06.5
-1.83.96.03.31.65.4
20.514.08.4
5.39.09.35.85.82.21.04.4
82.62.12.85.44.8
Finished goods excluding consumer foods
Total
Dec. toDec.1
2"53.3
%2.36.6
21.17.26.26.88.3
14.813.48.74.201.12.2
-4.03.23.24.86.9.3
Yearto year
2"62.83.53.72.04.0
16.212.16.27.17.2
11.816.210.34.61.81.41.4
-2.62.12.45.05.03.0
Consumergoods
Dec. toDec.1
1.62.51.5.3.9.3
"b"0.3.9
1.82.02.02.83.82.12.17.5
20.36.86.06.78.5
17.614.18.64.2
9.8
2.1-6.6
4.13.15.38.7
g
Yearto year
0.62.62.501.2.6
~00-.3
.91.51.82.32.33.03.51.84.6
17.010.46.27.37.1
13.318.510.34.11.21.01.1
-4.62.22.45.65.92.9
Capitalequipment
Dec. toDec.1
5.68.14.61.2.9.3
0.3.6.9
1.53.83.13.04.84.82.42.15.1
22.78.16.57.28.08.8
11.49.23.92.01.82.72.11.33.63.83.42.5
Yearto year
2.67.76.12.61.9.3.3.3.3.9
1.22.43.53.43.54.74.02.63.3
14.315.26.76.47.98.7
10.710.35.72.82.32.22.01.82.33.93.53.1
Finishedenergygoods
Dec. toDec.1
16.311.612.08.5
58.127.914.1
1924 2
-.2-38.1
11.2-3.6
9.530.7
-9.6
Yearto year
17.211.715.76.5
35.049.219.1
-1.5-4.8
4 2-3.9
-28.1-1.9-3.2
9.914.24.1
Finished goodsexcluding foods
and energy
Dec. toDec.1
17.76.05.76.28.49.4
10.87.74.91.92.02.72.72.14.34.23.53.1
Percent change from preceding month
Unad-justed
1.9-.2-.20.4.1.3.9.9
1.6.5
.2-.7-.4
.2
.6
.1-.2
.1
~'.%0
— 3
Sea-son-a
justed
1.7-.1
-'.I
o'.3
1.11.31.2.4
-.4.1
-.7-.2
.1
.5-.4-.2
.2
.1
.7
.2-.2
Unad-justed
2.3.6
-~LO1.1
— .L..6
0-.6
!3-.6
.5
~^5.1.4
_ 4-.6
-1.0-.5
.2
.1-.7
Sea-son-
ajusted
1.61.0
-.5-.6
.4-.2
.5
.6-.5
.6
.1
-.2.2.2.3
0—.5-.7-.5-.4
.4-.1-.4
Unad-justed
1.8-.3-.3
.3
.3
.31.21.42.0.5
-.7.1
-.8
.2
.1
.2-.1
.3-.21.00-.2
Sea-son-
%justed
1.8
-.1
'.3.1.3
1.41.81.5.5
-.5.2
-1.0-.4
.1
.6-.40.5.2.7.2
-.2
Unad-justed
2.5
-'.5
A.2.3
1.72.32.5
.7-1.2-.2
-1.3-1.0
.2
.9
-.2.5
~!s0-.3
Sea-son-
%justed
2.5-.8
~'.2.5
-.2.3
1.92.72.1.6
-.9-.1
-1.4-.8
.2
.7_ 7-.1
.7
.3
.9
.3
Unad-justed
0.3
'.2.2
0.2.2.2
-.21.3
'.2.8.2.1
0.2
0.1
-.1
l".40.1
Sea-son-allyad-
justed
0.3
A.2.1.4.2.3.3.2.2.3.7.2
-'.I.3.2.1.1.1.4.2.2
Unad-justed
12.2-4.8-3.2
1.5.7
-1.3.7
9.010.57.41.6
-5.4-2.5-5.1-3.7
.33.0
.5-1.1
1.7.4
-1.0-.1
-2.0
Sea-son-
2justed
12.3-4.8-2.7
.1-.6-.7
.19.1
11.39.1
.2- 4.0-2.2-5.3-3.3-.11.7
-1.5-1.3
1.8.8
1.70
-1.4
Unad-justed
0.3.3
'.2.2A.2
001.2.2
.9
.2
.1
.20
.2
.20-.41.5.1.2
Yearto year
11411.45.76.07.58.9
11.28.65.73.02.42.52.32.43.34.43.73.5
Sea-son-
9justed
0.2.3.4.2
'.2.3.2.3.2.5.2.8.2.3.1.4
-.1.2.2
0
'.3.2
1 Changes from December to December are based on unadjusted indexes.2 Data have been revised through August 1991 to reflect the availability of late reports and corrections by respondents. All data are
subject to revision 4 months after original publication.Source-. Department of Labor, Bureau of Labor Statistics.
372Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
MONEY STOCK, CREDIT, AND FINANCE
TABLE B-65.—Money stock, liquid assets, and debt measures, 1959-91
[Averages of daily figures; billions of dollars, seasonally adjusted]
Yearand
month
December:19591960 .19611962196319641965196619671968196919701971 .1972 .1973197419751976197719781979 :1980198119821983 .19841985198619871988 ....19891990 . .1991 f
1990: JanFebMar
JuneJulyAug...:::::::..::::....::::::::::SeptOct.NovDec
1991: Jan.FebMar
£=::=JulvAugsept....:::::....::.....:::::::OctNovDec*.
Ml
Sum of
*j»p!,travelers
checks, andother
checkabledeposits
140.0140.7145.2147.9153.4160.4167.9172.1183.3197.5204.0214.5228.4249.3262.9274.4287.6306.4331.3358.4382.8408.8436.4474.4521.2552.2619.9724.3749.7786.4793.6825.4896.7795.4801.1804.7807.7807.5811.5810.7816.5821.89212823.3825.4826.7836.4843.0842.1851.6858.4859.5866.1870.0879.1890.3896.7
M2
Ml plusovernightRPsand
Eurodollars,MMMF
balances(general
purpose andbroker/dealer),
MMDAs, andsavings andsmalltimedeposits
297.8312.4335.5362.7393.3424.8459.4480.0524.4566.4589.6628.1712.7805.2861.0908.6
1,023.31,163.71,286.71,389.01,497.11,629.81,793.31,952.92,186.32,374.72,569.72,811.62,910.13,069.93,223.13,327.83,425.43,233.63,255.03,269.63,279.93,282.83,290.63,295.43,309.63,321.63,324.53,323.73,327.83,331.43,354.73,375.43,383.73,395.53,400.93,392.03,393.73,395.53,404.03,418.43,425.4
M3
M2 pluslarge timedeposits,term RPs,
termEurodollars,
andinstitution-only MMMF
balances
299.8315.3341.1371.5406.1442.5482.3505.1557.1606.3615.1677.4776.2886.0985.0
1,070.41,172.31,311.81,472.71,646.71,803.31,987.52,234.12,441.72,693.32,986.23,201.63,492.63,677.43,919.14,055.24,111.24,172.04,061.44,073.14,077.24,082.74,082.74,085.84,089.04,103.14,108.84,109.04,108.44,111.24,124.04,159.74,168.24,170.44,171.94,165.34,150.24,149.44,144.74,151.34,163.34,172.0
L
M3 plusother liquid
assets
388.7403.7430.8466.1503.8540.4584.5614.8666.6729.0763.6816.3903.0
1,023.01,142.61,250.31,367.01,516.61,705.31,910.82,116.32,324.22,596.72,851.43,154.63,527.53,828.94,133.24,337.04,676.04,889.94,966.6
4,895.34,903.04,914.84,920.84,903.54,923.14,926.74,934.44,955.64,955.14,960.44,966.64,983.15,010.05,010.34,977.44,955.44,979.74,986.04,979.54,970.64,980.75,008.7
Debt1
Debt ofdomestic
nonfinancialsectors
(monthlyaverage)
888.7923.9966.5
1,018.81,073.61,136.61,204.71,272.11,347.51,439.91,530.41,620.61,752.01,906.92,093.52,265.42,446.32,689.33,010.93,392.83,772.14,104.54,489.24,886.15,422.76,176.57,033.17,921.58,668.59,437.5
10,152.610,792.4
10,198.510,258.210,328.910,386.510,435.110,499.010,558.310,620.110,669.410,704.110,755.210,792.410,818.010,868.310,905.410,922.810,969.711,019.811,058.011,104.911,154.911,207.011,256.6
Percent change from year or 6months earlier2
Ml
0.53.21.93.74.64.72.56.57.73.35.16.59.25.54.44.86.58.18.26.86.86.88.79.95.9
12.316.83.54.9
.94.08.64.15.45.95.04.74.53.83.84.33.33.93.43.94.95.25.16.98.07.97.16.48.89.18.9
M2
4.97.48.18.48.08.14.59.38.04.16.5
13.513.06.95.5
12.613.710.68.07.88.9
10.08.9
12.08.68.29.43.55.55.03.22.96.76.86.86.15.04.23.83.43.22.72.52.32.22.73.23.64.34.43.62.31.21.21.31.4
M3
5.28.28.99.39.09.04.7
10.38.81.5
10.114.614.111.28.79.5
11.912.311.89.5
10.212.49.3
10.310.97.29.15.36.63.51.41.52.83.02.92.72.11.51.41.51.61.31.31.21.72.82.93.03.12.61.3-.5
-1.1-.9-.4
.3
Debt
5.84.04.65.45.45.96.05.65.96.96.35.98.18.89.88.28.09.9
12.012.711.28.89.48.8
11.013.913.912.69.48.97.66.3
7.16.97.17.06.56.87.17.16.66.16.15.64.94.74.44.14.04.24.44.44.65.25.2
1 Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors;data derived from flow of funds accounts..8 Annual changes are from December to December; monthly changes are from 6 months earlier at a simple annual rate.
Note.—See Table B-66 for components.Source Board of Governors of the Federal Reserve System.
373Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Components of money stock measures and liquid assets, 1959-91
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Yearand
month
December:19591960196119621963 ..19641965196619671968 ,196919701971197219731974197519761977197819791980 ..19811982198319841985198619871988198919901991"
1990- JanFeb :MarAprSlay..:::::::::::::::::::::::::::::::::::::::::::June....JulyAug ,Sept....OctNovDec
1991- JanFebMar.AprMayJuneJulyAug.. .SeptOct.NovDec".. ..
Currency
28.828.729.330.332.233.936.038.040.043.045.748.652.056.260.867.072.879.587.496.0
104.8115.3122.6132.5146.2156.0167.8180.7196.9212.0222.2246.4266.7224.5226.6228.4230.3231.9233.7235.7238.4241.5243.9245.0246.4251.6255.1256.7256.6256.8257.6258.9260.8262.4264.4265.3266.7
Travelerschecks
0.4.4.4.4.5.5.6.6.7.8.8
1.01.11.31.51.82.32.83.13.53.84.24.44.34,95.25.96.57.07.57.48.48.37.57.67.67.77.87.87.88.08.28.38.48.48.43.28.17.98.07.87.77.77.37.98.18.3
Demanddeposits
110.8111.6115.5117.1120.6125.8131.3133.4142.5153.6157.3164.7175.1191.6200.3205.1211.6221.5236.7250.5257.5261.3231.3234.0238.5243.9266.6301.9285.5286.3278.7276.9289.1277.6279.4278.9278.1275.8276.3275.6278.0279.1277.1277.2276.3272.9275.1277.1275.8278.7281.0278.9279.8279.3282.6287.4289.1
Othercheckabledeposits(dCDs)
0.0.0.0.0.1.1.1.1.1.1.2.1.2.2
:4.9
2.74.28.4
16.828.078.2
103.5131.6147.1179.5235.3259.3280.7285.2293.8332,6285.8287.5289.8291.7292,0293.7291.7292.1293.0£91.8292.8293.8293.9296.9301.0301.9308.1311.9314.1317.8320.6324.1329.5332.6
Overnightrepur-chaseagree-ments
3**)net, plusovernightEurodol-lars1
NSA
0.0.0.0.0.0.0.0.0.0.0
2.21.32.32.85.35.75.9
10.714.920.721.728.836.639.955.660.673.582.383.283.477.474.375.881.582.481.979.483.282.484.082.881.683.777.874.371.570.569.570.168.968.565.3S7.967.170.173.675.8
Money market mutualfund (MMMF)
balances
Generalpurpose
andbroker/dealer 2
0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0
1.72.7242.46.4
33.461.6
150.6185.2138.8167.9176.7208.3221.7241.1 -313.6345.4352.3318.4324.2325.9327.0325.3327.5329.2335.8339.3341.6341.9345.4354.0358.4364.0365.1365.8366.5363.7358.0355.1354.0352.3352.3
Institu-tion
only2
0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.0.2.4.6.9
3.19.5
15.238.051.142.862.163.983.888.986.9
101.9125.7167.1102.5103.4105.2106.9107.6108.1109.8114.0116.2119.6120.5125.7130.1139.3142.0145.6146.2143.3141.8144.8149.3155.4161.0167.1
Savingsdeposits,including
moneymarketdeposit
accounts(MMDAs) 3
146.5159.1175.5194.7214.4235.3256.9253.2263.7268.9263.6260.9292.2321.4326.8338.4388.7453,0492.0481.8423.7400.1343.9400.0684.7704.7814.9940.6936.9925.8890.2916.7
1,037.2894.2900.5905.9910.7911.3914.1916.1918.6919.6918.2917.8916.7917.1926.9939.7953.8969.2981.0990.0996.2
1,002.71,013.21,025.21,037.2
1 Includes continuing contract RPs.8 Data prior to 1983 are not seasonally adjusted.3 Data prior to 1982 are savings deposits only; MMDA data begin December 1982.See next page for continuation of table.
374Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-66.—Components of money stock measures and liquid assets, 1959-91—Continued
[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]
Yearand
month
December:19591960196119621963 . .196419651966196719681969 .. .1970197119721973197419751976197719781979198019811982 .19831984 . .19851986 . .19871988198919901991 *
1990: JanFeb. .. .MarAprMay..: ::...:::..::::.:::::::::':::::TJune ..JulyAUKsept::::::::::::::::::::::::::::::::::::::::::::::OctNov. .Dec
1991: JanFeb. .MarAprMayJuneJulyAugSeptOct .. ..NovDec "....
Smalldenomi-nationtime
deposits*
11.412514820.125629234555.0778
100.61204151.11897231.62658287.93379390.74455520963447286823.285097841887788348555917.7
103181,145 91 164210610114651 1468114991 15221,153 51 15461,156.81 15831,160.1116141 16181 1642116381 16251,1580114941 138911266111591 10821 1013108901075210610
Largedenomi-nationtime
deposits4
1.2203.97.0
10815221223.130937.420445.257773.4
1111144.81298118.11452195722332605303.0327332774177437.34399489254235635507 145715600554954935437540*55380535.052925219515151255071511951605115507250384987491248484768467346054571
Termrepur-chaseagree-ments(RPs)
NSA
00oo0o0o.0o.0
27162735677881
139189262291335353334499576624805
10611218988894725975
100598498299-3
10221002101797995195189487385882080879577078278277' 1760754725
TermEuro-
dollars
NSA
0.78
151.61924182.2222.927222736558198
148202318447503675817915829765838910
10608l'o714614742684667653671644651683700702700714719726711682655648659669647636624614
Savingsbonds
46.145746546.948149049650.251251.8517520543576604633672718764803796723678680711742795918
1006109311751260
1179118411921199120"71214122.21230123812451252126012671278128913011314132513351344135313621371
Short-term
Treasurysecurities
38.636737039.840738540743.238746.159548.836040.749352.868469.8781811
10781335149.4183621202608298228022535270632743354
330732733369329931573320334.33290332233033338335433323314327830762996326833763351328933253428
Bankersaccept-ances
0.69
111.11213161.8182.33335383.550
12.610710814122027232140.044545.045442.0371445401407347
40.338537236035434733.032331832634034736035232.4307288277278271251249248
Commer-cial
paper
3.6515.26.87.791
10.214.417.822.534.034.532735.242851.248552.564180.7984988
105.31137133.21608207.62314261.03368349.23594
345.03456344.13519349.13491348.23470359.0358835903594363.23559353.0338.632373274336.83335336.63357340.7
4 Small denomination and large denomination deposits are those issued in amounts of less than $100,000 and more than $100,000,respectively.
Note.—NSA indicates data are not seasonally adjusted.See also Table B-65.Source: Board of Governors of the Federal Reserve System.
375Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-67.—Aggregate reserves of depository institutions and monetary base, 1959-91
[Averages of daily figures *; millions of dollars; seasonally adjusted, except as noted]
Year and month
December:1959
19601961196219631964
19651966....,196719681969
19701971197219731974
19751976197719781979
1980 ,1981198219831984
19851986198719881989
19901991 p
1990- JanFebMarAprJayjuKe:::::::::::::::::::::::::::::::::::JulyAugsept :.:.::::::::"":::.::'::::.OctNovDec
1991: JanFebMar . . ..AprMay.June
JulyAURSeptOctNovDec*
Adjusted for changes in reserve requirements 2
Reserves of depository institutions
Total
13,091
13,20913,53913,66513,82814,177
14,53414,43815,56616,25116,756
17,22218,03119,68820,12320,754
21,07621,74622,47323,36624,475
25,99426,49527,83529,90131,662
37,06145,86345,81247,59647,729
49,10453,752
47,82948,04848,11248,20247,96247,896
47,63647,97348,26247,94248,24549,10449,45949.59049,53049,34450,00050,345
50,41050,88651,14751,81652,69553,752
Nonbor-rowed
12,150
13,13513,40513,40413,49513,913
14,09013,90615,33815,50615,637
16,89017,90518,63818,82520,027
20,94621,69321,90322,49823,002
24,30425,85927,20129,12728,476
35,74345,03745,03545,88047,464
48,77853,560
47,38946,60045,98846,57446,62747,014
46,87947,04647,63747,53248,01448,77848,92549,33849,28949,11249,69750,005
49,80450,12150,50251,55652,58753,560
Nonbor-rowedplus
extendedcredit
12,150
13,13513,40513,40413,49513,913
14,09013,90615,33815,50615,637
16,89017,90518,63818,82520,174
20,95721,69321,90322,49823,002
24,30726,00827,38729,12931,080
36,24245,34045,51847,12447,483
48,80153,561
47,41447,13447,93847,97847,50347,360
47,15947,17447,64447,55048,03948,80148,95249,37249,34249,19849,78550,013
49,84950,42250,80451,56752,58853,561
Required
12,585
12,46612,95513,09313,33713,771
14,11014,09915,19015,82616,470
16,97317,84919,40419,81920,496
20,80921,47322,28323,13424,033
25,48026,17627,33529,34030,807
36,02444,49444,76646,54946,807
47,44052,773
46,81347,05947,25147,30646,99947,122
46,77447,10647,35347,09647,29747,44047,29047,78248,35148,31348,97049,337
49,50549,80050,21950,73451,80252,773
Mone-tarybase
42,866
42,93143,87744,99447,07149,298
51,81553,76456,94460,78964,123
67,63371,84578,17484,14390,683
97,083104,832113,774124,026134,866
145,931153,001164,276179,921191,374
208,619230,039246,281263,459274,168
299,785324,780
276,508278,653280,613282,627283,970285,758
287,418290,458293,804295,941297,553299,785305,147309,422310,956310,568311,430312,409
313,838316,229317,926320,551322,286324,780
Borrowings of depositoryinstitutions from the Federal
Reserve, NSA
Total
941
74133260332264
444532228746
1,119
332126
1,0501,298727
13053569868
1,473
1,690636634774
3,186
1,318827777
1,716265
326192
4401,4482,1241,6281,335881
757927624410230326534252241231303340
607764645261108192
Seasonal
4132
14135513582
116543396113
56389313084
7638
475178122244311
3894304183351627633375579151222
3173312872118638
Extendedcredit
147
12
1481862
2,604
499303483
1,24420
231
26535
1,9501,403875346
280127618242327345386888
463003021211
1 Data are prorated averages of biweekly (maintenance period) averages of daily figures.2 Aggregate reserves incorporate adjustments for discontinuities associated with regulatory changes to reserve requirements. Fordetails on aggregate reserves series see Federal Reserve Bulletin.
Note.—NSA indicates data are not seasonally adjusted.Source: Board of Governors of the Federal Reserve System.
376Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-68.—Commercial bank loans and securities, 1972-91
[Monthly average; billions of dollars, seasonally adjusted *]
Year andmonth
December:19721973197419751976197719781979198019811982198319841985198619871988198919901991
1990:Jan ... .FebMar
ftJuneJulyAueSept: :::::::::::OctNovDec
1991:JanFebMarAprMayJuneJulyAug::: ::rrSeptOctNovDec
Totalloans and
securi-ties2
572.5647.9713.9745.3804.9891.9
1,014.41,136.11,238.91,307.21,400.51,552.11,722.2
1,909.62,093.52,238.92,421.72,589.0
2,723.62,810.6
2,600.02,615.12,633.22,648.12,655.42,670.1
2,683.02,704.92,708.02,713.62,716.62,723.6
2,721.22,735.12,751.02,751.82,750.52,763.22,763.32,761.62,768.92,784.52,799.32,810.6
U.S.Govern-
mentsecuri-
ties
89.088.286.3
116.7136.3136.6137.6144.3170.6179.3201.7259.2260.2
270.9310.1335.9363.8399.3454.2560.3
404.9413.8420.3426.4430.3438.4
442.8445.7450.1453.1454.0454.2
454.1458.0471.4479.2485.1495.2505.3512.6522.1538.2549.3560.3
Othersecuri-
ties
93.499.4
107.5111.2113.5122.7129.2141.9154.4160.5164.8169.1140.9179.0193.9193.5192.1180.8175.6173.3
180.6180.6180.4180.2178.2177.5177.3178.8178.8177.8175.9175.6
177.7177.6177.6175.7173.9173.1172.0169.9170.8172.2172.3173.3
Loans and leases
Total *
390.1460.3520.0517.4555.1632.7747.6849.9913.9967.5
1,034.01,123.81,321.1
1,459.81,589.51,709.51,865.82,008.9
2,093.82,077.0
2,014.52,020.72,032.52,041.52,046.92,054.2
2,062.92,080.42,079.02,082.72,086.72,093.8
2,089.42,099.52,102.02,096.92,091.52,094.82,086.02,079.12,076.02,074.12,077.62,077.0
Com-mercial
andindus-trial
137.1165.0196.6189.3190.9211.0246.2291.4325.7355.4392.5414.2473.2
500.3537.2567.6606.6641.3648.1616.8
639.4640.3643.5645.9644.3645.3644.4645.1644.7643.7646.5648.1
644.3643.9646.0640.0633.2630.4626.7620.5623.8623.8620.2616.8
Realestate
98.1117.3130.1134.4148.8175.2210.5241.9262.6284.1299.9331.0376.5426.0494.2587.2671.5760.6836.5857.0
766.1744.9782.7790.8798.9805.9
814.5818.0822.5827.7832.0836.5
837.3842.6846.3850.9855.1859.5857.0853.9853.4854.2856.3857.0
Individ-ual
86.398.6
102.4104.9116.3138.3164.7184.5179.2182.5188.2212.9253.8
294.6315.2328.2354.7375.5378.9361.8
377.6379.2379.4377.8378.4377.6
376.4378.2378.6379.7378.7378.9
375.9377.7375.5374.1373.5372.0369.6368.9365.3362.7361.7361.8
Secu-rity
15.6,12.9
12.713.517.721.019.718.718.021.425.328.034.543.140.434.839.938.340.647.2
39.438.337.036.835.535.038.744.641.340.539.640.6
43.143.238.939.839.838.341.642.643.943.846.447.2
Non-bankfinan-cial
insti-tutions
21.728.534.528.926.425.826.229.329.329.931.230.431.332.434.931.829.932.734.839.3
32.732.933.734.034.134.434.735.035.234.834.634.8
34.836.036.735.936.937.237.236.336.136.638.939.3
Agri-cultural
14.317.218.320.123.225.828.231.131.633.136.239.240.136.131.529.429.830.733.032.4
31.030.830.830.831.031.131.331.531.832.232.533.0
33.533.534.033.933.633.032.532.332.232.132.232.4
Stateand
politi-cal
subdi-visions
0.0.0.0.0
46.156.858.552.645.540.034.328.5
38.739.138.638.237.937.336.435.835.235.134.834.3
33.233.132.732.131.731.030.530.029.529.328.828.5
For-eign
banks
3.96.28.39.0
11.713.721.518.623.818.114.613.411.69.9
10.37.97.98.67.26.9
8.27.98.38.68.77.47.07.98.19.08.17.2
6.06.17.26.86.46.06.26.36.56.16.76.9
For-eign
officialinsti-
tutions
1.62.12.22.42.82.74.96.9
11.57.25.99.48.46.36.35.85.13.73.23.3
3.43.33.23.33.33.23.23.23.33.23.23.2
3.03.13.23.03.03.03.13.13.23.33.53.3
Leasefinanc-
ingreceiv-ables
1.42.13.24.05.15.77.49.3
10.912.713.313.716.019.022.324.529.231.832.730.9
32.132.132.432.432.632.432.632.732.833.332.932.7
32.432.833.032.732.732.832.031.431.231.130.930.9
Other
10.110.311.610.912.213.318.218.221.523.126.931.829.935.338.639.845.745.844.752.7
45.941.843.042.842.344.543.648.245.543.643.744.7
45.847.548.547.645.651.849.653.850.951.052.052.7
1 Data are prorated averages of Wednesday figures for domestically chartered banks and averages of weekly data for foreign-relatedinstitutions beginning July 1981. Prior to July 1981, data for foreign-related institutions are averages of current and previous month-enddata.
2 Excludes loans to commercial banks in the United States.Note.—Data are not strictly comparable because of breaks in the series.Source: Board of Governors of the Federal Reserve System.
377Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Bond yields and interest rates, 1929-91[Percent per annum]
Year andmnnth
192919331939194019411942 . .1943194419451946194719481949195019511952195319541955195619571958195919601961196219631964 ,.196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988198919901991
1986:JanFebMar
fc::JuneJulyAugSeptOctNovDec
U.S. Treasury securities
Bills(new issues) »
3-month
0.515023.014.103.326.373.375.375375.594
104011021.2181.5521.7661.931.953
1.7532.6583.2671.8393.4052.9282.3782.7783.1573.5493.9544.8814.3215.3396.6776.4584.3484.0717.0417.8865.8384.9895.2657.221
10.04111.50614.02910.6868.639.587.485.985.826.698.127.515.42
7.047.036.596.066.126.215.845.575.195.185.355.49
6-month
3.832.3.2472.6052.9083.2533.6864.0555.0824.6305.4706.8536.5624.5114.4667.1787.9266.1225.2665.5107.572
10.01711.37413.77611.0848.759.807.666.036.056.928.047.475.49
7.137.086.606.076.166.285.855.585.315.265.42,53
Consmatur
3-year
2.471.632.473.193.982.844.463.983.543.473.674.034.225.235.035.687.027.295.655.726.957.827.496.776.698.299.71
11.5514.4412.9210.4511.899.647.067.688.268.558.266.82
8.418.107.306.867.277.416.866.496.626.566.466.43
tant
10-year
2.852.402.823.183.653.324.334.123.883.954.004.194.284.925.075.656.677.356.166.216.847.567.997.617.428.419.44
11.4613.9113.0011.1012.4410.627.688.398.858.498.557.86
9.198.707.787.307.717.807.307.177.457.437.257.11
Corporatebonds
(Moody's)
Aaa
4.734.493.012.842.772.832.732.722.622.532.612.822.662.622.862.963.202.903.063.363.893.794.384.414.354.334.264.404.495.135.516.187.038.047.397.217.448.578.838.438.028.73963
11.9414.1713.7912.0412.7111.379.029.389.719.263.328.77
10.059.679.008.799.099.138.888.728.898.868.688.49
Baa
5.907.764.964.754.334.283.913.613.293.053.243.473.423.243.413.523.743.513.533.884.714.735.055.195.085.024.864.834.875.676.236.947.819.118.568.168.249.50
10.619.758.979.49
10.6913.6716.0416.1113.5514.1912.7210.3910.5810.8310.1810.369.80
11.4411.1110.4910.1910.2910.3410.1610.1810.2110.2410.079.97
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
4.274.712.762.502.102.362.061.861.671.642.012.402.211.982.002.192.722,372.532.933.603.563.953.733.463.183.233.223.273.823.984.515.816.515.705.275.186.096.896.495.565.906.398.51
11.2311.579.47
10.159.187.387.737.767.247.256.89
8.067.447.077.327.677.987.627.317.147.126.866.93
New-homemort-gage
yields'
5.895.835.816.256.466.977.818.457.747.607.968.929.009.009.029.56
10.7812.6614.7015.1412.5712.3811.5510.179.319.19
10.1310.059.32
10.8910.6810.5010.2710.2210.1510.3010.2610.1710.029.919.69
Com-mercialpaper, 6months4
5.851.73.59.56.53.66.69.73.75.81
1.031.441.491.452.162.332.521.582.183.313.812.463.973.852.973.263.553.974.385.555.105.907.837.715.114.738.159.846.325.345.617.99
10.9112.2914.7611.898.89
10.168.016.396.857.688.807.955.85
7.627.547.086.476.536.636.245.835.615.615.695.88
Prime ratecharged by
banks5
5.50-6.001.50-4.00
1.501.501.501.501.501.501.501.50
1.50-1.751.75-2.00
2.002.072.563.003.173.053.163.774.203.834.484.824.504.504.504.504.545.635.616.307.967.915.725.258.03
10.817.866.846.839.06
12.6715.2718.8714.8610.7912.049.938.338.219.32
10.8710018.46
High-low
9.50-9.509.50-9.509.50-9.009.00-8.508.50-8.508.50-8.508.50-8.008.00-7.507.50 7.507.50-7.507.50-7.507.50-7.50
Discountrate,
FederalReserveBank of
New York6
5.162.561.001.001.007 1.00
7 1.007 1.007 1.007 1.001.001.341.501.591.751.751.991.601.892.773.122.153.363.533,003.003.233.554.044.504.195.165.875.954.884.506.447.836.255.505.467.46
10.2811.7713.4211.028.508.807.696.335.666.206.936.985.45
High-low
7.50-7.507.50-7.507.50-7.007.00-6.506.50-6.506.50-6.506.50-6.006.00-5.505.50-5.505.50-5.505.50-5.505.50-5.50
Federalfundsrate6
• "••••••
1.782.733.111.573.303.221.962.683.183.504.075.114.225.668.207.184.664.438.73
10.505.825.045,547.93
11.1913.3616.3812.269.09
10.238.106.816.667.579.218.105.69
8.147.867.486.996.856.926.566.175.895.856.046.91
1 Rate on new issues within period; bank-discount basis.2 Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department.8 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate andassuming, on the average, repayment at end of 10 years. Rates Txeginning January 1973 not strictly comparable with prior rates.
See next page for continuation of table.
378Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-69.—Bond yields and interest rates, 1929-91—Continued[Percent per annum]
Year andmonth
1987:JanFebMartorBay
My.""'.'.'.A*S«ptOctNovDec
1988:JanFebWarAprMayJuneJulyAugSeptOctNovDec
1989:JanFebMar
&:::::::JuneJulyAugSeptOctNevDec
1990:JanFebMar
MayJuneJulyAugSeptOctNovDec
1991:JanFebMarAprMayJuneJulyAugSeptOctNovDec
U.S. Treasury securities
Bills(new issues) 1
3-month
5.455.595.565.765.755.685.786.986.326.405.815.80
5.905.695.695.926.276.506.737.027.237.347.688.09
8.298.488.838.708.408.227.927.917.727.637.657.64
7.647.767.877.787.787.747.667.447.387.197.076.81
6.305.955.915.675.515.605.585.395.255.034.604.12
6-month
5.475.695.565.936.115.995.866.146.576.866.236.36
6.315.965.916.216.536.766.977.367.437.507.768.24
8.388.498.878.738.398.007.637.727.747.617.467.45
7.527.727.837.827.827.647.577.367.337.207.046.76
6.345.935.915.735.655.765.715.475.295.084.664.16
Constantmaturities2
3-year
6.416.566.587.328.027.827.748.038.678.757.998.13
7.877.387.507.838.248.228.448.778.578.438.729.11
9.209.329.619.408.988.377.838.138.268.027.807.77
8.138.398.638.788.698.408.268.228.278.077.747.47
7.387.087.357.237.127.397.386.806.506.235.905.39
10-year
7.387.257.258.828.618.468.458.769.429.528.868.99
8.678.218.378.729.098.929.069.268.988.808.969.11
9.099.179.369.188.868.288.028.118.198.017.877.84
8.218.478.598.798.768.488.478.758.898.728.398.08
8.097.858.118.048.078.288.277.907.657.537.427.09
Corporatebonds
(Moody's)
Aaa
8.368.388.368.859.339.329.429.67
10.1816.5210.0110.11
9.889.409.399.679.909.869.96
10.119.829.519.459.57
9.629.649.809.799.579.108.938.969.018.928.898.86
8.999.229.379.469.479.269.249.419.569.539.309.05
9.048.838.938.868.869.019.008.758.618.558.488.31
Baa
9.729.659.61
14.9410.5118.5216.6116.8811.3111.6211.2311.29
11.0710.6210.5710.9011.0411.0011.1111.2110.9010.4110.4810.65
10.6510.6110.6710.6110.4610.039.879.889.919.819.819.82
9.9410.1410.2110.3010.4110.2210.2010.4110.6410.7410.6210.43
10.4510.0710.099.949.869.969.899.659.519.499.459.26
High-grade
munici-pal
bonds(Stand-ard &
Poor's)
6.636.666.717.628.107.897.837.968.368.84
•8.098.07
7.817.557.867.918.017.867.877.867.717.547.587.66
7.417.477.617.497.256.976.977.087.277.227.137.01
7.137.217.297.367.347.227.157.317.407.407.107.04
7.056.907.077.056.957.097.036.896.806.596.646.63
New-homemod-
ffi
9.519.239.149.219.379.459.419.389.379.259.309.15
9.109.129.159.138.959.269.179.069.269.109.439.39
9.529.829.99
10.1710.1810.4210.4810.2210.2410.1110.0910.07
9.919.88
10.0310.1710.2810.1310.0810.119.909.989.909.76
9.659.579.439.609.529.469.439.489.309.048.648.53
Com-mercialpaper, 6months4
5.765.986.106.§67.947.986.726.817.557.967.177.49
6.926.586.646.927.317.537.908.368.238.248.558.97
9.029.359.979.789.298.808.358.328.508.248.907.93
7.968.048.238.298.238.067.907.777.837.817.747.49
7.026,416.366.075.946.166.145.765.595.334.934.49
Prime ratecharged by
banks5
14 -̂low
7.50- 7.S87.§8- 7.§87.58- 7.S87.75- 7.188.25- 7.758.25- 8.258.25- 8.258.25- 8.258.75- 8.259.25- 8.759.00- 8.758.75- 8.75
8.75- 8.758.75- 8.508.50- 8.508.56- 8.509.00- 8.509.00- 9.909.50- 9.00
10.00- 9.5010.06-10.0010.00-10.0010.50-10.0010.50-10.50
10.59-10.5011.56-10.5011.50-11.5011.50-11.5611.56-11.5611.58-11.9611.96-10.5©10.56-16.5616.56-18.5016.56-10.5610.50-10.5010.50-16.56
16.56-16.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.0010.00-10.00
10.00- 9.509.50- 9.009.00- 9.009.00- 9.009.00- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.008.00- 8.008.00- 7.507.50- 6.50
Discountrate,
FederalReserveBank of
New York6
Hcgfc-tew
5.S@-5.995.59-5.385.58-5.985.58-5.505.58-5.585.58-5.585.58-5.595.56-5.566.66-5.566.66-6.666.66-6.966.00-6.00
6.96-6.006.96-6.666.96-6.966.96-6.666.96-6.666.00-6.006.06-6.006.50-6.006.50-6.506.50-6.506.50-6.506.50-6.50
6.56-6.567.96-6.567.96-7.067.96-7.997.96-7.907.96-7.867.96-7.007.96-7.667.96-7.667.66-7.967.60-7.667.00-7.00
7.00-7.007.66-7.867.60-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-7.007.00-6.50
6.50-6.506.50-6.006.00-6.006.00-5.505.50-5.505.50-5.505.50-5.505.50-5.505.50-5.005.00-5.005.00-4.504.50-3.50
Federalfundsrate*
6.436.166.136.376.8S6.736.586.737.227.296.696.77
6.836.586.586.877.897.517.758.618.198.368.358.76
9.129.369.859.849.819.539.248.999.628.848.558.45
8.238.248.288.268.188.298.158.138.208.117.817.31
6.916.256.125.915.785.905.825.665.455.214.814.43
4 Bank-discount basis; prior to November 1979, data are for 4-6 months paper.6 For monthly data, high and low for the period. Prime rate for 1929-33 and 1947-48 are ranges of the rate in effect during theperiod.8 Since July 19, 1975, the daily effective rate is an average of the rates on a given day weighted by the volume of transactions atthese rates. Prior to that date, the daily effective rate was the rate considered most representative of the day's transactions, usuallythe one at which most transactions occurred.7 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by Governmentsecurities maturing in 1 year or less.
Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Housing Finance Beard, Moody'sInvestors Service, and Standard & Poor's Corporation.
379Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Total funds raised in credit markets by nonfinancial sectors, 1982-91
[Billions of dollars-, quarterly data at seasonally adjusted annual rates]
Item
Total net borrowing by domestic nonfinanciai sectors...
U.S. Government
Treasury issuesAgency issues and mortgages
Private domestic nonfinanciai sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages
Home mortgagesMulti-family residential .CommercialFarm
Other debt instruments
Consumer creditBankloansn.eeOpen-market paperOther
By borrowing sector:
State and local governmentsHouseholdsNonfinanciai business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
BondsBank loans n.e.cOpen-market paperU.S. Government and other loans
Total domestic plus foreign
Total funds supplied to domestic nonfinanciai sectors..
Private domestic nonfinanciai sectors
Deposits and currency
Checkable deposits and currencyTime and savings depositsMoney market fund sharesSecurity repurchase agreementsForeign deposits
Credit market instruments
Foreign funds
At banks ,Credit market instruments
U.S. Government and related loans, netU.S. Government cash balancesPrivate insurance and pension reservesOther sources
1982 1983 1984 1985 1986 1987 1988 1989 1990
Net credit market borrowing by nonfinanciai sectors
401.0
161.2
162.1g
239.8
159.9
53.118.788.2
53.45.4
25.24.1
79.9
16.453.9
-6.115.8
239.8
30.484.1
125.3
6.769.848.8
16.0
6.6-5.5
1.913.0
417.0
547.7
185.1
185.2I
362.6
258.2
54.416.0
187.9
120.414.151.02.4
104.4
48.925.0
3~L3
362.6
34.6179.2148.7
3.983.961.0
17.3
3.13.66.54.1
565.0
758.2
197.1
197.3
561.1
327.6
58.746.1
222.8
136.725.262.212
233.5
81.7o7.921.762.2
561.1
35.7231.1294.2
4
123.2171.5
8.4
3.8-6.6
6.25.0
766.6
895.3
225.6
225.71
669.7
494.5
178.673.8
242.2
156.829.862.266
175.1
82.540.614.637.4
689.7
134.0283.1252.6
-14.5130.2136.9
1.2
3.8-2.8
6.2-6.0
896.5
861.6
215.9
215.6.4
645.7
489.3
45.7127.3316.3
218.733.573.6
-9.5
156.4
58.063,6
-9.344.1
645.7
59.2289.7296.7
163101.3211.7
9.7
3.1-1.011.5
-3.9
871.3
722.8
143.9
142.41.5
578.9
487.1
83.579.1
324.5
234.924.471.6
-6.4
91.8
33.59.91.6
46.8
578.9
83.0302.2193.7
-10.665.9
138.5
6.2
7.4-3.6
3.8-1.4
729.0
767.2
155.1
137.717.4
612.1
463.5
53.7103.4306.5
231.016.760.821
148.6
50.440.511.945.8
612.1
48.9315.8247.4
7562.4
192.5
6.4
6.9188.7
-7.5
773.6
714.7
146.3
144.71,6
568.4
414.9
65.074.3
275.7
218.016.442.7
-1.5
153.5
43.139.921.449.1
568.4
63.2287.3217.9
1.650.0
166.3
10.6
5.3-.113.1
-7.7
725.3
630.0
246.9
238.78.2
383.2
314.0
45.547.5
221.0
204.65.9
10.61
69.2
14.31.59.7
43.7
383.2
42.6247.293.4
2.515.375.5
23.5
21.6-2.912.3
-7.5
653.5
Direct and indirect supply of funds to credit markets
401.0
310.7
208.9
27.1137.733.511.1
4
101.8
-8.6
32323.7
8,36.1
119.7-35.2
547.7
410.5
240.2
44.2208.7
-39.023.13.1
170.3
38.2
14.623.7
9.053
96.714
758.2
476.9
312.9
36.7222.649.09.8
-5.1
164.0
66.7
8.857.9
16.54.0
143.051.0
895.3
516.3
221.3
55.3142.8
7.217.7
-1.7
295.0
82.0
19.762.3
37.010.3
155.893.9
861.6
408.5
282.8
112.6100.943.220.25.9
125.7
110.7
12.997.8
18.61.7
171.3150.8
722.8
432.2
190.3
18.7123.728.921.625
241.9
106.4
43.762.7
8.158
100.081.9
767.2
472.6
232.2
27.2163.020.232.9112
240.4
106.9
9.397.6
-13.17.3
172.521.0
714.7
422.8
224.2
12.3107.3
85.214.94.4
198.6
61.7
-9.971.6
-46.2-3.4190.289.7
630.0
249.9
88.7
23.017.461.8
-20.57.0
161.2
77.2
24.053.2
17.65.3
169.5110.4
See next page tor contawfon ol We.
380Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-70.—Total funds raised in credit markets by nonfinancial sectors, 1982-91—Continued
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Item
Total net borrowing by domestic nonfinancialsectors
U.S. Government
Treasury issuesAgency issues and mortgages
Private domestic nonfinancial sectors
Debt capital instruments
Tax-exempt obligationsCorporate bondsMortgages .
Home mortgagesMulti-family residentialCommercialFarm
Other debt instruments
Consumer creditBank loans n e eOpen-market paperOther
By borrowing sector:
State and local governmentsHouseholdsNonfinancial business
FarmNonfarm noncorporateCorporate
Foreign net borrowing in United States
Bonds....Bank loans n.e.c..Open-market paperU.S. Government and other loans
Total domestic plus foreign
"otal funds supplied to domestic nonfinancialsectors
Private domestic nonfinancial sectors
Deposits and currency
Checkable deposits and curren-cy
Time and savings depositsMoney market fund sharesSecurity repurchase agreements .Foreign deposits
Credit market instruments
Foreign funds
At banksCredit market instruments
U.S. Government and related loans, netU.S. Government cash balancesPrivate insurance and pension reservesOther sources
1989
1 II III IV
1990
1 II III IV
1991
1 II III
Net credit market borrowing by nonfinancial sectors
740.4
154.7
155.9-1.2
585.7
410.8
56.158.8
295.9
213.620.465.2
-3.3
174.9
46.945.423.159.5
585.7
62.3281.3242.1
4.671.5
166.0
11.5
5.2.5
17.8-12.0
751.9
720.7
117.5
112.45.1
603.2
403.4
48.686.2
268.6
207.320.839.0
1.5
199.8
39.953.443.762.7
603.2
50.8267.9284.5
156.7
227.9
-11.7
6.8-.466
-11.4
709.1
701.4
149.2
142.17.1
552.2
410.4
76.863.9
269.6
223.711.636.1
-1.8
141.8
45.846.018.731.2
552.2
73.0291.4187.7
4439.2
152.9
26.9
8.14.2
19.1-4.4
728.3
696.4
164.0
168.6-4.6
532.4
435.1
78.388.2
268.7
227.513.030.5
-2.3
97.3
39.714.7
.142.8
532.4
66.6308.7157.1
6.532.5
118.2
15.6
1.1-4.822.1
-2.8
712.0
780.6
234.2
204.729.6
546.3
396.0
70.727.9
297.4
258.18.7
31.1-.6
150.3
33.66.8
54.955.1
546.3
74.3328.9143.1
5.931.0
106.2
12.5
35.0-9.7
-14.92.1
793.1
669.3
239.6
234.25.4
429.7
335.2
56.266.8
212.2
218.4-7.5
2.5-1.2
94.5
14.226.7-.754.4
429.7
48.9274.5106.3
-5.514.197.8
36.3
20.71.3
23.1-8.8
705.6
588.3
242.3
243.6-1.3
346.0
272.5
36.530.4
205.6
183.016.84.51.3
73.6
13.469
19.347.7
346.0
34.6219.392.2
8.711.272.3
26.2
1.92.0
25.6-3.3
614.5
482.0
271.5
272.5-1.0
210.6
252.2
18.364.9
169.0
159.05.54.3
.2
-41.7
-4.2206
-34.417.6
210.6
12.4166.331.9
1.14.8
25.9
19.0
28.6-5.215.6
-20.0
501.0
427.1
199.3
223.2-24.0
227.9
263.0
25.373.7
164.1
140.38.6
15.1.1
351
-21.22.0
-6.9-9.1
227.9
25.6166.435.9
24.8-7.718.7
62.0
11.57.4
46.7-3.5
489.2
515.7
269.1
275.3-6.2
246.5
307.0
38.489.6
179.0
161.98.6
10.9-2.3
605
-7.0-43.7-16.1
6.4
246.5
25.7187.833.0
2.5-1.231.8
-59.2
14.731
-51.9-18.8
456.5
565.6
365.5
394.3-28.8
200.1
243.0
52.680.0
110.3
146.0-9.6
-26.1.0
-42.9
263-6.642432.5
200.1
27.5169.0
3.5
2.1-40.6
42.0
22.5
15.91.7
16.0110
588.2
Direct and indirect supply of funds to credit markets
740.4
425.8
225.9
.388.476.332.628.3
200.0
80.6
-35.1115.7
-2.9-17.9183.871.0
720.7
430.9
241.2
-14.7129.293.726.56.5
189.7
-29.2
-24.9-4.2
-95.218.8
290.0105.4
701.4
490.4
217.8
13.6108.4117.412.0337
272.6
156.1
21.2134.9
-52.9209
134.356
696.4
344.0
211.9
50.1103.153.6
-11.416.5
132.0
39.1
-.840.0
-33.96.4
152.8188.0
780.6
499.3
216.6
51.193.6
112.5-37.1
36
282.7
14.9
13.51.4
39.85.2
99.4122.0
669.3
336.8
32.1
18.013.4
-25.318.27.8
304.7
83.1
23.559.6
21.5-1.0222.4
6.4
588.3
129.8
81.7
29.1-32.2113.5
-26.5-2.2
48.1
162.6
87.575.1
99.813.7
131.750.7
482.0
33.8
24.6
-6.1-5.446.4
-36.626.2
9.3
48.3
28576.8
90.63.4
224.6262.6
427.1
209.9
232.7
101.936.8
172.5-56.4-22.1
229
39.8
9.230.6
60.820.6
269.21731
515.7
33.2
-93.7
10.1-59.6-64.4
2.717.5
126.9
-40.1
-99.359.1
93.5-22.3192.0259.3
565.6
-70.5
-77.7
98.1-155.1
-3.3-16.5
-.9
7.2
82.1
30.551.7
60.85.7
321.7165.7
Source: Board of Governors of the Federal Reserve System.
381Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-71.—Mortgage debt outstanding by type of property and of financing, 1940-91
[Billions of dollars]
End of yearor quarter
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
196019611962 .1963196419651966196719681969
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
1990
1989:1||IIIIV
1990- 1||IllIV
1991: 1||II I
Allproper-
ties
36.537.636.735.334.735.541.848.956.262.7
72.882.391.4
101.3113.7129.9144.5156.5171.8190.8
207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6
473.7524.2597.4672.6732.5791.9878.6
1,010.31,163.01,328.4
1,460.41,566.71,637.91,825.42,051.42,303.32,633.62,986.43,270.13,556.4
3,912.2
3,334.93,414.33,493.03,556.4
3,754.73,815.33,870.23,912.2
3,943.13,995.24,026.1
Farmproper-
ties
6.56.46.05.44.94.84.95.15.35.6
6.16.77.27.78.29.09.8
10.411.112.1
12.813.915.216.818.921.223.125.127.529.4
30.532.435.439.844.949.955.463.972.886.8
97.5107.2111.3113.7112.4105.996.587.585.284.0
84.0
84.685.485.384.0
83.984.084.384.0
83.983.883.8
Nonfarm properties
Total
30.031.230.829.929.730.836.943.950.957.1
66.775.684.293.6
105.4120.9134.6146.1160.7178.7
194.7214.1236.2261.7287.0312.1333.4356.1383.5412.2
443.2491.8562.0632.8687.5742.0823.2946.4
1,090.21,241.7
1,362.91,459.51,526.61,711.71,939.02,197.42,537.22,898.93,184.93,472.3
3,828.2
3,250.33,328.93,407.63,472.3
3,670.83,731.33,785.93,828.2
3,859.23,911.43,942.4
l-to4-familyhouses
17.418.418.217.817.918.623.028.233.337.6
45.251.758.566.175.788.299.0
107.6117.7130.9
141.9154.6169.3186.4203.4220.5232.9247.3264.8283.2
297.4325.9366.5407.9440.7482.1546.3642.7753.5870.5
965.11,039.81,080.01,198.51,334.31,501.41,723.71,963.02,201.22,429.7
2,765.1
2,247.22,309.12,371.92,429.7
2,614.02,675.72,724.92,765.1
2,789.72,837.12,877.0
Multi-family
proper-ties
5.75.95.85.85.65.76.16.67.58.6
10.111.512.312.913.514.314.915.316.818.7
20.323.025.829.033.637.240.343.947.352.2
60.170.182.893.1
100.0100.6105.7114.0124.9134.9
142.3142.1145.7160.7185.4214.5257.2278.9291.4303.4
307.0
296.8301.8300.9303.4
303.7301.9306.1307.0
309.6311.8309.4
Com-mercialproper-
ties
6.97.06.76.36.26.47.79.1
10.210.8
11.512.513.414.516.318.320.723.226.129.2
32.436.541.146.250.054.560.164.871.476.9
85.695.9
112.7131.7146.9159.3171.2189.7211.8236.3
255.5277.5300.9352.4419.3481.5556.3657.0692.2739.2
756.1
706.3718.1734.8739.2
753.1753.8754.9756.1
759.9762.5756.0
Nonfarm properties by type of mortgage
Government underwritten
Total »
2.33.03.74.14.24.36.39.8
13.617.1
22.126.629.332.136.242.947.851.655.259.3
62.365.669.473.477.281.284.188.293.4
100.2
109.2120.7131.1135.0140.2147.0154.1161.7176.4199.0
225.1238.9248.9279.8294.8328.3370.5431.4459.7486.8
517.9
466.0472.5478.3486.8
495.1502.3510.9517.9
525.3532.6540.3
1- to 4-family houses
Total
2.33.03.74.14.24.36.19.3
12.515.0
18.822.925.428.132.138.943.947.250.153.8
56.459.162.265.969.273.176.179.984.490.2
97.3105.2113.0116.2121.3127.7133.5141.6153.4172.9
195.2207.6217.9248.8265.9288.8328.6387.9414.2440.1
470.9
420.8426.9432.9440.1
448.2455.0464.1470.9
478.0484.2491.4
FHAinsured
2.33.03.74.14.24.13.73.85.36.9
8.59.7
10.812.012.814.315.516.519.723.8
26.729.532.335.038.342.044.847.450.654.5
59.965.768.266.265.166.166.568.071.481.0
93.6101.3108.0127.4136.7153.0185.5235.5258.8282.8
310.9
264.7270.3276.3282.8
289.8296.2304.8310.9
317.0323.1329.2
VAguar-
anteed
0.22.45.57.28.1
10.313.214.616.119.324.628.430.730.430.0
29.729.629.930.930.931.131.332.533.835.7
37.339.544.750.056.261.667.073.682.092.0
101.6106.2109.9121.4129.1135.8143.1152.4155.4157.3
160.0
156.1156.6156.6157.3
158.4158.8159.3160.0
161.0161.1162.2
Conventional 2
Total
27.728.227.125.825.526.530.634.137.340.0
44.749.154.961.569.378.086.894.6
105.5119.4
132.3148.5166.9188.2209.8231.0249.3267.9290.1312.0
333.9371.1430.9497.7547.3595.0669.0784.6913.9
1,042.7
1,137.81,220.61,277.81,431.91,644.21,869.12,166.72,467.52,725.22,985.5
3,310.3
2,784.42,856.52,929.42,985.5
3,175.73,229.03,275.03,310.3
3,333.83,378.83,402.1
1- to 4-familyhouses
15.115.414.513.713.714.316.918.920.822.6
26.328.933.238.043.649.355.160.467.677.0
85.595.5
107.1120.5134.1147.4156.9167.4180.4193.0
200.2220.7253.5291.7319.4354.3412.8501.0600.2697.6
769.9832.2862.2949.6
1,068.51,212.61,395.11,575.11,787.11,989.6
2,294.2
1,826.41,882.21,939.01,989.6
2,165.82,220.72,260.82,294.2
2,311.72,352.92,385.5
1 Includes FHA insured multifamily properties, not shown separately.2 Derived figures. Total includes multifamily and commercJ commercial properties, not shown separately.Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
382Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-72.—Mortgage debt outstanding by holder, 1940-91
[Billions of dollars]
End of yearor quarter
19401941194219431944 ...1945. .19461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974197519761977 ..1978...1979...19801981...19821983...198419851986...198719881989... .1990....1989: 1
IIIllIV
1990- 1||I I IIV
1991: II II I I
Total
36.537.636.735.334.735.541.848.956.262.772.882.391.4
101.3113.7129.9144.5156.5171.8190.8207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6473.7524.2597.4672.6732.5791.9878.6
1,010.31,163.01,328.41,460.41,566.71,637.91,825.42,051.42,303.32,633.62,986.43,270.13,556.43,912.23,334.93,414.33,493.03,556.43,754.73,815.33,870.23,912.23,943.13,995.24,026.1
Major financial institutions
Total
19.520.720.720.220.221.026.031.837.842.951.759.566.975.185.799.3
111.2119.7131.5145.5157.6172.6192.5217.1241.0264.6280.8298.8319.9339.1355.9394.2450.0505.4542.6581.2647.5745.2848.2938.2996.8
1,040.51,021.31,108.21,245.91,361.51,474.31,665.31,831.51,931.51,913.91,864.91,900.01,925.41,931.51,939.01,940.41,933.31,913.91,902.11,898.11,868.6
Savingsinstitu-tions1
9.09.49.29.09.19.6
11.513.816.118.321.925.529.834.941.148.955.561.268.978.187.098.0
111.1127.2141.9154.9161.8172.3184.3196.4208.3236.2273.7305.0324.2355.8404.6469.4528.0574.6603.1618.5578.1626.7709.7760.5778.0860.5924.6910.3801.6934.4938.7932.4910.3891.9860.3836.0801.6776.6755.2722.8
Comrner-cial
banks2
4.64.94.74.54.44.87.29.4
10.911.613.714.715.916.918.621.022.723.325.528.128.830.434.539.444.049.754.459.065.770.773.382.599.3
119.1132.1136.2151.3179.0214.0245.2262.7284.2301.3330.5379.5429.2502.5592.4674.0767.1844.5693.8719.5746.0767.1786.8814.6831.2844.5856.5871.2870.7
Lifeinsur-ancecom-
panies
6.06.46.76.76.76.67.28.7
10.812.916.119.321.323.326.029.433.035.237.139.241.844.246.950.555.260.064.667.570.072.074.475.576.981.4
* 86.289.291.696.8
106.2118.4131.1137.7142.0151.0156.7171.8193.8212.4232.9254.2267.9236.8241.8247.0254.2260.3264.9266.1267.9269.0271.7275.1
Other holders
Federaland
relatedagen-cies3
4.94.74.33.63.02.42.01.81.82.32.83.54.14.64.85.36.27.78.0
10.211.512.212.611.812.213.517.520.925.131.138.346.454.664.882.2
101.1116.7140.5170.6216.0256.8289.4355.4433.4491.1582.0735.4863.1945.9
1,079.01,270.6
970.4996.5
1,032.81,079.01,125.11,172.01,221.21,270.61,314.51,362.71,406.7
Individ-uals andothers4
12.012.211.711.511.512.113.815.316.617.518.419.320.421.723.225.327.129.132.335.138.443.146.349.552.755.258.261.466.171.479.483.692.8
102.4107.7109.6114.4124.6144.3174.3206.8236.8261.2283.7314.5359.8423.9458.0492.8545.8727.6499.6517.7534.8545.8690.6702.9715.6727.6726.6734.3750.9
1 Includes savings banks and savings and loan associations. Data reported by Federal Savings and Loan Insurance Corporation-insuredinstitutions include loans in process for 1987 and exclude loans in process beginning 1988.
2 Includes loans held by nondeposit trust companies, but not by bank trust departments.3 Includes Government National Mortgage Association (GNMA), Federal Housing Administration, Veterans Administration, Farmers HomeAdministration (FmHA), and in earlier years Reconstruction Finance Corporation, Homeowners Loan Corporation, Federal Farm MortgageCorporation, and Public Housing Administration. Also includes U.S.-sponsored agencies such as Federal National Mortgage Association(FNMA), Federal Land Banks, Federal Home Loan Mortgage Corporation (FHLMC), and mortgage pass-through securities issued orguaranteed by GNMA, FHLMC, FNMA or FmHA. Other U.S. agencies (amounts small or current separate data not readily available)included with "individuals and others."4 Includes private mortgage pools.
Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.
383Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-73.—Consumer credit outstanding, 1950-91
[Amount outstanding (end of month); millions of dollars, seasonally adjusted]
December:1950195119521953195419551956195719581959
1960...19611962196319641965 ..1966196719681969 ..
19701971197219731974197519761977..19781979
198019811982198319841985 ..19861987 ..1988 819891990
1990: JanFebMar
May"!!!!.""!!!!June
JulyAugSeptOctNovDec
1991- JanFebMarAprflayJune
JulyAugSeptOctNov *
Total
credit
23,295246242976633,7693502741,8854550348,1324835655,878
60,03562,3406823176,6068598995,948101 839106,716117 231126 928
131 600147,058166 009190,601199 365204,963228,162263,808308,272347 507
350 269366,869383 132431 170511,315592 129649,112681 893731,176781,190
794 403
784,601788,573789,740790,434790,962792,505
794,231794,755795,746795,428795,952794,403
792 438792 021789,639790,828790,252787,317
785,267782,785781,059779,963778,911
Total
15,1661585920 12123,8702447029,8093266034,91434 73640421
4433545,4385037557,056646747281478 162817839011299381
103 905116,434131 258152 910162 203167 043187,782221 475261,976296 483
298154311 259325 805368 966442,602518 252573,017610 468664,049718,863
735 102
721,563725 519726,676727,798729,528730,355
732 750733,844735,547735 433736,411735 102
732 962732*762732,442733,621732,289730,591
729,962729,108729,151730,817730,844
Ir
Automobile
6,035598176519,702975513,4851449915,4931426716,641
1810817,6562000122,8912586529,3783102431,1363435236946
3634840,5224783553,7405424156,98966,8218094898,739112475
111 991119,008125 945143 560173,564210 187247,428265 851284,214290,676
284 585
291,100291 270290,755290,000289,416288,797
288 136286,818285,627285 024284,412284 585
283 746282 626280,689279,746276,494274,496
273,565271,906270,223270,013269,061
Bailment credit
Revolving 2
20223563
49008,252939111,318132321450716,5953668945,20253357
55111610706645479088100,280121 816135,851153 078174,104199,082
220 110201,760204 251205,783207,673210618212,043
215119217,024219,090220 031221,690220 110219 58822l'556224,817225,994227,301227,737
228,199229,453232,070233,661234,675
Mobile home 3
24337,171946813,5051458215,38815,73816,36216,92118207
1873620,0582260423,56225,8612685027,0962592025,34822,471
20,919
22,40622,44422,67222,35922,07321,761
21,21121,19121,07320,68020,49220,919
2045920,20020,12320,09819,79619,907
19,61519,49518,89218,94319,068
Other
9,13198781247014,1681471516,3241816119,4212046923780
2622727,7823037434,1653880943,4364713850,6475373858872
6022460,4896456474,3478014880,15988,62887,476101,114112444
112 317111,124110802122,756142,897159,400162,642165,620180,383206,633
,209,487
206,350207,553207,466207,766207,421207,754
208,284208,811209,758209,698209,817209,487
209 170208,379206,813207,782208,697208,451
208,582208,253207,966208,200208,040
Noninstallmentcredit *
8,129876596459,899105571207612843132181362015457
1570016,902178561955021315231342367724,9332711927547
2769530,6243475137,6913716237,92040,38042,33346,29651024
5211555,6105732762,20468,71373,87776,09571,42467,12762,327
59,301
63,03963,05363,06462,63661,43462,150
61,48160,91160,19959,99559,54159,301
5947659,25957,19757,20757,96356,726
55,30553,67751,90849,14648,067
1 Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaia (or with the option of repayment) in two or more installments. Credit secured by real estate is generally excluded.2 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Excludes 30-day charge credit held by travel and entertainment companies. Prior to 1968, included in "other," except gasoline companies included innoninstaflment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in "other." Also beginning1977, some retail credit was reclassified from commercial into consumer credit.3 Not reported separately prior to July 1970.4 Noninstallment credit is credit scheduled to be repaid in a lump sum, including single-payment loans, charge accounts, and servicecredit. Because of inconsistencies in the data and infrequent benchmarking, series is no longer published by the Federal Reserve Boardon a regular basis. Data are shown here as a general indication of trends.5 Data newly available in January 1989 result in breaks in many series between December 1988 and subsequent months.
Source: Board of Governors of the Federal Reserve System.
384Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
GOVERNMENT FINANCE
TABLE B-74.—Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years, 1929-93
[Billions of dollars; fiscal years]
Fiscal yearor period
19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968 ....1969 j1970197119721973197419751976Transition
quarter ...1977197819791980198119821983198419851986198719881989199019911992 2
1993 2
Total
Re-ceipts
3.92.06.36.58.7
14.624.043.745.239.338.541.639.439.451.666.269.669.765.574.680.079.679.292.594.499.7
106.6112.6116.8130.8148.8153.0186.9192.8187.1207.3230.8263.2279.1298.1
81.2355.6399.6463.3517.1599.3617.8600.6666.5734.1769.1854.1909.0990.7
1,031.31,054.31,075.71,164.8
Outlays
3.14.69.19.5
13.735.178.691.392.755.234.529.838.842.645.567.776.170.968.470.676.682.492.192.297.7
106.8111.3118.5118.2134.5157.5178.1183.6195.6210.2230.7245.7269.4332.3371.8
96.0409.2458.7503.5590.9678.2745.8808.4851.8946.4990.3
1,003.91,064.11,144.21,251.81,323.01,441.01,497.5
Surplusor
deficit(-)
0.7-2.6-2.8-2.9-4.9
-20.5-54.6-47.6-47.6-15.9
4.011.8
.6-3.1
6.1-1.5-6.5-1.2-3.0
3.93.4
-2.8-12.8
.3-3.3-7.1-4.8-5.9-1.4-3.7-8.6
-25.23.2
-2.8-23.0-23.4-14.9-6.1
-53.2-73.7
-14.7-53.7-59.2-40.2-73.8-79.0
-128.0-207.8-185.4-212.3-221.2-149.8-155.2-153.5-220.5-268.7-365.2-332.7
On-budget
Re-ceipts
5.86.08.0
13.722.942.543.838.137.139.937.737.348.562.665.565.160.468.273.271.671.081.982.387.492.496.2
100.1111.7124.4128.1157.9159.3151.3167.4184.7209.3216.6231.7
63.2278.7314.2365.3403.9469.1474.3453.2500.4547.9568.9640.7667.5727.0749.7760.4774.8839.0
Outlays
9.29.5
13.635.178.591.292.655.034.229.438.442.044.266.073.867.964.565.770.674.983.181.386.093.396.4
102.8101.7114.8137.0155.8158.4168.0177.3193.8200.1217.3271.9302.2
76.6328.5369.1403.5476.6543.1594.4661.3686.0769.6806.8810.1861.4933.3
1,026.71,081.31,189.41,233.5
Surplusor
deficit(-)
-3.4-3.5-5.6
-21.3-55.6-48.7-48.7-17.0
2.910.5
-4.74.3
-3.4-8.3-2.8-4.1
2.52.6
-3.3-12.1
.5-3.8-5.9-4.0-6.5-1.6-3.1
-12.6-27.7
-.587
-26.1-26.4-15.4-8.0
-55.3-70.5
-13.3-49.8-54.9-38.2-72.7-74.0
-120.1-208.0-185.7-221.7-238.0-169.3-194.0-206.2-277.1-320.9-414.6-394.5
Off-budget
Re-ceipts
0.5.6.7.9
1.11.31.31.21.51.61.72.13.13.64.14.65.16.46.88.08.3
10.612.112.314.216.416.719.124.424.929.033.535.839.946.153.962.566.4
18.076.885.498.0
113.2130.2143.5147.3166.1186.2200.2213.4241.5263.7281.7293.9300.9325.8
Outlays
-0.0-.0
.0
.1
.1
.1
.1
.2
.3
.4
.4
.51.31.72.32.94.05.06.07.59.0
10.911.713.515.015.716.519.720.422.325.227.632.836.945.652.160.469.6
19.480.789.7
100.0114.3135.2151.4147.1165.8176.8183.5193.8202.7210.9225.1241.7251.5264.0
Surplusor
deficit(-)
0.5.6
'.81.01.21.21.01.21.21.31.61.81.91.81.71.11.5.8.5
-.2.4
-1.3-.8
.6
.2g
4.02.63.75.93.03.1.5
1.82.0
-3.2
-1.4-3.9-4.3-2.0-1.1-5.0-7.9
.2
.39.4
16.719.638.852.856.652.249.461.8
Gross Federal debt(end of period)
Total
'16.9J 225
48.250.757.579.2
142.6204.1260.1271.0257.1252.0252.6256.9255.3259.1266.0270.8274.4272.7272.3279.7287.5290.5292.6302.9310.3316.1322.3328.5340.4368.7365.8380.9408.2435.9466.3483.9541.9629.0
643.6706.4776.6828.9908.5994.3
1,136.81,371.21,564.11,817.02,120.12,345.62,600.82,867.53,206.33,599.04,078.84,544.3
Held bythe
public
41.442.848.267.8
127.8184.8235.2241.9224.3216.3214.3219.0214.3214.8218.4224.5226.6222.2219.3226.3234.7236.8238.4248.0254.0256.8260.8263.7266.6289.5278.1283.2303.0322.4340.9343.7394.7477.4
495.5549.1607.1639.8709.3784.8919.2
1,131.01,300.01,499.41,736.21,888.12,050.32,190.32,410.42,687.23,078.33,430.9
Adden-dum:Gross
domes-tic
product
87.995.5
112.5141.7175.4201.6211.9212.3222.6246.5262.4265.5313.2340.3363.4367.4383.9415.2437.2447.1478.7505.9516.9554.3585.0626.5671.4738.6791.3849.8925.6985.6
1,051.61,145.81,278.01,403.31,511.01,685.1
444.91,919.72,156.42,431.92,644.52,964.73,124.93,317.03,696.73,970.94,219.64,453.34,810.05,170.15,459.55,626.65,865.06,231.6
1 Not strictly comparable with later data.2 Estimates.Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal
year is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1993'* \w additional information.Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and
Budget.
385Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Federal receipts, outlays, and debt, fiscal years 1981-93
[Millions of dollars; fiscal years]
RECEIPTS AND OUTLAYS:Total receiptsTotal outlays
Total surplus or deficit ( )
On-budget receiptsOn-budget outlays
On-budget surplus or deficit ( — )
Off-budget receiptsOff-budget outlays
Off-budget surplus or deficit (-)
OUTSTANDING DEBT, END OF PERIOD:Gross Federal debt
Held by Government accountsHeld by the public
Federal Reserve SystemOther
RECEIPTS: ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions
On-budgetOff-budget
Excise taxesEstate and gift taxes ...Customs duties and feesMiscellaneous receipts:
Deposits of earnings by FederalReserve System
All other
OUTLAYS: ON-BUDGET AND OFF-BUDGET
National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing credit
On-budgetOff-budget
TransportationCommunity and regional developmentEducation, training, employment, and
social servicesHealthMedicareIncome security-Social security
On-budgetOff-budget
Veterans benefits and servicesAdministration of justiceGeneral governmentNet interest
On-budgetOff-budget
AllowancesUndistributed offsetting receipts
On-budgetOff-budget
1981
599,272678 249
78976
469097543053
73956
130 176135,196
-5020
994298
209,507784791
124466660,325
599,272
285,91761137
182 720
52545130,176
40,83967878083
12834956
678 249
157,513131046469
1516613568113238206
8206
2337910568
33,7092686639,14999723
139584
670138 914
229914,769
1142968774
710622288
28041
26611-1,430
1982
617,766745 755
127 989
474 299594,351
120 052
143 467151,404
-7,937
1 136 798
217,560919 238
134497784,741
617,766
297,74449207
201,498
58031143,467
36,31179918854
15186975
745 755
185,309123007200
1352712,998159446256
6256
206258347
27,0292744546,567
107 717155964
844155 120
239584>12
1091485044
87114-2071
26099
24453-1,646
Act
1983
600,562808 380
207 818
453 242661,272
-208030
147 320147,108
212
1 371 164
240,1141 131 049
155 527975,522
600,562
288,93837022
208,994
61674147,320
35,30060538,655
144921,108
808 380
209,90311,84879359353
12,67222,9016681
6681
21,3347560
26,6062864152,588
122 598170,724
19,993150 731
248465,105
11,23589828
91673-1,845
33976
32198-1,778
ual
1984
666 457851 846
185 388
500 382686 032
-185650
166 075165 813
262
1 564 110
264,1591 299 951
155 1221,144,829
666,457
298,41556893
239 376
73301166,075
37,3616010
11,370
156841,347
851 846
227,41315,87683177086
12,593136136917
6917
23,6697673
27,5793041757,540
112 668178,223
7,056171 167
256145,663
11817111 123
114432-3,310
31957
29913-2,044
1985
734 057946 391
212 334
547886769584
-221 698
186 171176 807
9363
1 816 974
317,6121 499 362
169 8061,329,556
734,057
334,53161331
265,163
78992186,171
35,9926422
12,079
170591,480
946 391
252,74816,1768,6275685
13,35725,5654229
4,229
25,8387,680
29,34233,54265,822
128,200188,623
5,189183,434
26,2926,270
11,588129 504
133 622-4,118
32698
-30 189-2,509
1986
769,091990 336
221 245
568 862806 838
237 976
200 228183,498
16,731
2 120 082
383,9191 736 163
190 8551,545,308
769,091
348,95963143
283,901
83,673200,228
32,9196958
13,327
183741,510
990,336
273,37514,1528,9764,735
13,63931,4494,890
4,890
28,1177,233
30,58535,93670,164
119,796198,757
8,072190,684
26,3566,572
12,564136047
140 377-4,329
-33,007
-30,150-2,857
Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.
Refunds of receipts are excluded from receipts and outlays.See next page for continuation of table.
386Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-75.—Federal receipts, outlays, and debt, fiscal years 1981-93—Continued
[Millions of dollars; fiscal years]
Description
RECEIPTS AND OUTLAYS:Total receiptsTotal outlays
Total surplus or deficit ( )
On-budget receiptsOn-budget outlays
On-budget surplus or deficit ( — )
Off-budget receiptsOff-budget outlays .
Off-budget surplus or deficit (-)
OUTSTANDING DEBT, END OF PERIOD:Gross Federal debt
Held by Government accountsHeld by the public
Federal Reserve SystemOther
RECEIPTS: ON-BUDGET AND OFF-BUDGET
Individual income taxesCorporation income taxesSocial insurance taxes and contributions
On-budgetOff-budget
Excise taxesEstate and gift taxesCustoms duties and feesMiscellaneous receipts-
Deposits of earnings by FederalReserve System
All other
OUTLAYS: ON-BUDGET AND OFF-BUDGET
National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environment ..AgricultureCommerce and housing credit
On-budgetOff-budget .
TransportationCommunity and regional developmentEducation, training, employment, and
social servicesHealthMedicareIncome securitySocial security
On-budget..Off-budget
Veterans benefits and servicesAdministration of justiceGeneral governmentNet interest
On-budgetOff-budget
AllowancesUndistributed offsetting receipts
On-budgetOff-budget .
Actual
1987
854,1431,003,911
-149,769
640,741810,079
-169,339
213,402193,832
19,570
2,345,578
457,4441,888,134
212,0401,676,094
854,143
392,55783,926
303,318
89,916213,402
32,4577,493
15,085
16,8172,490
1,003,911
281,99911,6499,2164,115
13,36326,6066,182
6,182
26,2225,051
29,72439,96775,120
123,250207,353
4,930202,422
26,7827,5537,565
138,652
143,9425290
-36,455
-33,155-3,300
1988
908,9541,064,140
155 187
667,463861,449
-193,986
241,491202,691
38,800
2,600,760
550,5072,050,252
229,2181,821,034
908,954
401,18194,508
334,335
92,845241,491
35,2277,594
16,198
17,1632,747
1,064,140
290,36110,47110,8412,297
14,60617,21018,815
18,815
27,2725,294
31,93844,48778,878
129,332219,341
4,852214,489
29,4289,2369,464
151,838
159,253-7,416
-36,967
32585-4,382
1989
990,6911,144,169
-153,477
727,026933,258
-206,232
263,666210,911
52,754
2,867,537
677,2142,190,323
220,0881,970,236
990,691
445,690103,291359,416
95,751263,666
34,3868,745
16,334
19,6043,225
1,144,169
303,5599,573
12,8383,702
16,18216,91929,211
29,520-310
27,6085,362
36,67448,39084,964
136,031232,542
5,069227,473
30,0669,4749,017
169,266
180,661-11,395
-37,212
32354-4,858
1990
1,031,3081,251,778
-220,470
749,6521,026,713
-277,061
281,656225,065
56,590
3,206,347
795,9062,410,441
234,4102,176,031
1,031,308
466,88493,507
380,047
98,392281,656
35,34511,50016,707
24,3192,997
1,251,778
299,33113,76414,4442,428
17,06711,95867,142
65,5161,626
29,4858,498
38,49757,71698,102
147,277248,623
3,625244,998
29,1129,995
10,734184,221
200,212-15,991
-36,615
-31,048-5,567
1991
1,054,2641,323,011
-268,746
760,3801,081,324
-320,944
293,885241,687
52,198
3,598,993
911,7512,687,242
258,5912,428,651
1,054,264
467,82798,086
396,016
102,131293,885
42,40211,13815,949
19,1583,688
1,323,011
273,29215,85116,1111,662
18,55215,18375,639
74,3211,317
31,0996,811
42,80971,183
104,489170,846269,015
2,619266,395
31,34912,27611,661
194,541
214,76320222
-39,356
33553-5,804
Estimates
1992
1,075,7381,440,977
-365,239
774,8161,189,447
-414,631
300,922251,530
49,392
4,078,803
1,000,5243,078,279
1,075,738
478,78189,031
410,863
109,941300,922
46,09812,06317,260
18,5073,136
1,440,977
307,30617,81116,3734,026
20,23117,21954,741
53,917825
34,0357,537
45,02894,605
118,638196,020286,732
6,078280,654
33,81914,06112,838
198,813
222,66623853
-96-38,761
32665-6,095
1993
1,164,7801,497,472
-332,692
839,0041,233,489
-394,485
325,776263,983
61,793
4,544,283
1,113,4223,430,861
1,164,780
515,215103,216446,691
120,915325,776
48,09112,87217,961
17,4203,314
1,497,472
291,01417,98117,0334,560
20,46415,73563,623
61,9751,647
35,1387,615
49,563108,179129,342199,532302,251
6,434295,817
34,29715,39414,022
213,782
240,780-26,998
-42641628
-35,144-6,484
See "Budget of the United States Government, Fiscal Year 1993"'for additional information.Sources: Department of the Treasury and Office of Management and Budget.
387Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-76.—Relation of Federal Government receipts and expenditures in the national income and
product accounts to the budget, fiscal years 1989-91
[Billions of dollars; fiscal years]
Receipts and expenditures
RECEIPTSTotal on-budget and off-budget receipts
Government contributions for employee retirement (grossing)Other netting and grossingTiming adjustmentsGeographic exclusionsOther
Federal sector, national income and product accounts, receipts
EXPENDITURESTotal on-budget and off-budget outlays
Government contributions for employee retirement (grossing)Other netting and grossingLending transactionsDeposit insurance and other financial transactionsDefense timing adjustments .. .Other timing adjustmentsGeographic exclusionsBonuses on Outer Continental Shelf land leasesOther
Federal sector, national income and product accounts, expenditures
1989
990.7
41.214.71.5
-1.56
1,047.1
1,144.2
41.214.7
-2.1-22.8-7.3
5-6.0
.9-11
1,162.1
1990
1,031 3
44217.8
-3.9-1.6
1
1,087.9
1,251.8
44.217.8
-14.2-56.7
4.438
-651.1
_ 2
1,245.6
1991
1,054 3
47221.3
-50-1.7
1
1,116.2
1,323.0
47.221.3
-14.0-66.7
3.120
-6.8.9
- 6
1,305.4
Note.—See Note, Table B-74.See "Budget of the United States Government, Fiscal Year MTfor additional information.In previous years a NIPA translation of the President's proposed budget was published in the "Budget." This year, these estimates will
be published in a forthcoming issue of the Survey of Current Business.Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and
Budget.
388Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-77.—Federal and State and local government receipts and expenditures, national income and
product accounts, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quarter
1959
19601961196219631964
1965.196619671968..1969
19701971197219731974
1975197619771978..1979
198019811982..19831984
19851986198719881989
1990..1991"
1982: IV1983: IV1984: IV1985: IV1986: IV ..1987: IV
1988- 1III I IIV
1989- 1III l lIV
1990: 1 .||II IIV
1991: 1||II IIV
Total government
Receipts
128.8
138.8144.1155.8167.5172.9
187.0210.7226.4260.9294.0
299.8318.9364.2408.5450.7
465.8532.6598.4673.2754.7
825.7941.9960.5
1,016.41,123.6
1,217.01,290.81,405.21,492.41,614.0
1,697.11,737.5
965.91,043.71,147.11,243.81,335.41,445.7
1,445.61,486.81,501.31,535.8
1,590.21,618.71,615.11,632.1
1,667.91,691.41,714.51,714.7
1,720.91,727.31,748.8
Expendi-tures
131.9
135.2147.1158.7165.9174.5
185.8211.6240.2265.5284.0
311.2338.1368.1401.6455.2
530.6570.9615.2670.3745.3
861.0972.3
1,069.11,156.21,232.4
1,342.21,437.51,516.91,590.71,697.1
1,836.71,908.6
1,122.81,180.01,274.91,374.71,461.61,561.5
1,568.01,582.31,581.81,630.5
1,662.31,684.11,700.81,741.1
1,798.41,819.81,838.11,890.3
1,846.91,906.41,927.21,954.0
Surplus ordeficit(-),
nationalincome
andproduct
accounts
-3.1
3.6-3.0
291.6
-1.6
1.210
-13.7-4.610.0
-11.5-19.2
396.9
-4.5
-64.8-38.3-16.8
2.99.4
-35.3303
-108.6-139.8
1088
-125.3-146.8-111.7-98.3-83.0
139 5-171.2
-156.9-136.3-127.8-130.9-126.2-115.8
-122.4-95.5-80.5
947
-72.1-65.4-85.7
-108.9
-130.51284
-123.6-175.6
-126.1-179.1
1784
Federal Government
Receipts
90.6
97.099.0
107.2115.5116.2
125.8143.5152.6176.8199.6
195.2202.6232.0263.7294.0
294.8339.9384.0441.2504.7
553.0639.0635.4660.0725.8
788.6827.2913.8972.3
1,055.2
1,104.81,119.1
632.3671.1739.8803.6856.8943.5
940.5970.4977.8
1,000.6
1,045.71,061.81,050.81,062.7
1,086.81,106.31,115.41,110.7
1,115.21,114.31,124.6
Expendi-tures
93.2
93.4101.7110.6114.4118.8
124.6144.9165.2181.5191.0
208.5224.3249.3270.3305.6
364.2392.7426.4469.3520.3
613.1697.8770.9840.0892.7
969.91,028.21,065.61,109.01,179.4
1,270.11,319.8
815.7855.7926.6990.8
1,034.31,096.3
1,098.01,105.01,097.31,135.5
1,160.21,172.31,179.21,206.0
1,247.61,263.21,265.11,304.4
1,261.61,321.01,334.81,362.0
Surplus ordeficit
nationalincome
andproduct
accounts
-2.6
3.5-2.6-3.4
1.126
1.3-1.4
-12.7-4.7
8.5
-13.3-21.7
173-6.6116
694-52.9
424-28.1-15.7
-60.1588
-135.51801
-166.9
-181.4-201.0
1518-136.6-124.2
16532007
-183.4-184.6-186.8-187.2-177.5-152.7
-157.513461195
-134.9
1145-110.5-128.4
1433
-160.8-156.9-149.7-193.6
-146.42067
-210.2
State and local government
Receipts
45.0
48.352.456.661.167.1
72.381.589.8
102.7114.8
129.0145.3169.7185.3200.6
225.6253.9281.9309.3330.6
361.4390.8409.0443.4492.2
528.7571.2594.3631.3677.0
724.5770.6
417.9459.5505.1544.8582.4605.1
613.5627.9635.7648.2
660.2674.0682.5691.4
709.2717.3730.3741.3
749.4764.1777.4
Expendi-tures
45.5
48.352.756.160.666.1
72.381.190.9
102.6113.3
127.2142.8156.3171.9193.5
221.0239.3256.3278.2305.4
336.6362.3382.1403.2434.1
472.6517.0554.2593.0635.9
698.8741.1
391.4411.1446.1488.4531.1568.1
578.4588.8596.7607.9
617.8628.9639.8657.0
678.9688.8704.2723.3
729.0736.5745.6753.2
Surplus ordeficit
nationalincome
andproduct
accounts
-0.5
.0-.4
.5
.41.0
.0
.51 1.1
1.5
1.82.5
13.413.47.1
4.614.625.631.125.1
24.828.526.940.358.1
56.154.340.138.441.1
25.729.6
26.548.359.056.351.237.0
35.139.139.040.2
42.445.142.634.4
30.328.526.118.0
20.427.631.8
Note.—Federal grants-in-aid to State and local governments are reflected in Fed<government receipts and expenditures have been adjusted to eliminate this duplicate
Source: Department of Commerce, Bureau of Economic Analysis.
Federal expenditures and State and local receipts. Total"ion.
389Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-78.—Federal and State and local government receipts and expenditures, national income and
product accounts, by major type, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988 . ..198919901991 '1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: 1
IIIl lIV
1989- 1III l lIV
1990: 1II ....Il lIV
1991:1IIIl lIV P
Receipts
Total
128.8138.8144.1155.8167.5172.9187.0210.7226.4260.9294.0299.8318.9364.2408.5450.7465.8532.6598.4673.2754.7825.7941.9960.5
1,016.41,123.61,217.01,290.81,405.21,492.41,614.01,697.11,737.5
965.91,043.71,147.11,243.81,335.41,445.71,445.61,486.81,501.31,535.81,590.21,618.71,615.11,632.11,667.91,691.41,714.51,714.71,720.91,727.31,748.8
Per-sonaltaxand
nontaxre-
ceipts
44.548.750.354.858.056.061.971.077.992.1
109.9109.0108.7132.0140.6159.1156.4182.3210.0240.1280.2312.4360.2371.4368.8395.1436.8459.0512.5527.7591.7621.0616.0372.1371.6413.4448.8478.5528.6510.8530.4527.7542.0574.3597.6591.8602.9606.6622.7627.5627.2617.1613.6615.1618.3
Corpo-rate
profitstax ac-cruals
23.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.177.294.096.5
106.5127.1137.0138.0135.3123.458.782.283.897.6
116.6135.2126.6135.7139.0146.2149.2141.7131.2129.8137.6137.9138.8127.1119.4123.5128.6
In-directbusi-nesstaxandnon-taxac-
cruals
41.945.548.151.754.758.862.765.470.479.086.694.3
103.6111.4121.0129.3140.0151.6165.5177.8188.7212.0249.3256.4280.1309.5329.9345.5365.0385.3411.0439.2470.7262.3291.7317.7335.1351.6372.3376.8382.0388.3394.2399.9408.1416.7419.2430.8432.3442.3451.2461.6464.5475.6481.0
Contri-butions
forsocialinsur-ance
18.821.922.925.428.530.131.640.645.550.457.962.268.979.097.6
110.5118.5134.5149.8171.8197.8216.6251.3269.6290.2325.0353.8379.8400.7442.3473.4501.7527.3272.8298.3332.2362.3388.7409.6431.3438.7445.6453.5466.8471.3475.4480.2493.0498.6505.8509.3522.9525.7529.5531.3
Expenditures
Total1
131.9135.2147.1158.7165.9174.5185.8211.6240.2265.5284.0311.2338.1368.1401.6455.2530.6570.9615.2670.3745.3861.0972.3
1,069.11,156.21,232.41,342.21,437.51,516.91,590.71,697.11,836.71,908.61,122.81,180.01,274.91,374.71,461.61,561.51,568.01,582.31,581.81,630.51,662.31,684.11,700.81,741.11,798.41,819.81,838.11,890.31,846.91,906.41,927.21,954.0
Pur-chases
99.099.8
107.0116.8122.3128.3136.3155.9175.6191.5201.8212.7224.3241.5257.7288.3321.4341.3368.0403.6448.5507.1561.1607.6652.3700.8772.3833.0881.5918.7971.4
1,042.91,086,9
631.6657.6727.0799.2849.7901.4904.7913.8918.5937.6947.5966.6980.9990.7
1,021.21,033.21,046.01,071.21,088.81,092.51,089.11,077.0
Trans-fer
ments
27.529.333.634.736.638.141.145.854.562.669.383.899.4
110.9126.6150.5189.2206.5220.9238.6266.9317.6360.7402.7433.4447.2479.5509.4531.8566.2612.8674.3699.0428.1439.1456.2488.3518.6542.6558.0561.0567.3578.6594.9602.4617.5636.6657.5668.2676.7694.8634.7687.8724.3749.1
Net interest paid
Total
6.36.96.46.97.47.98.18.58.9
10.311.512.412.512.915.216.318.522.824.426.528.733.448.155.561.879.188.390.695.4
101.8114.8123.7131.356.667.786.789.290.5
101.397.1
101.5103.4105.0112.0116.6113.6117.0118.2124.1129.6122.9130.0133.0130.3132.1
Inter-estpaid
10.19.9
10.811.612.513.214.515.718.119.822.323.124.829.633.637.743.647.956.868.683.9
110.2130.6146.6174.6195.9207.9215.9229.9251.0270.4284.6135.6156.1186.5201.6208.7222.9226.1226.7230.7236.0244.4250.9252.6256.2260.6267.0275.0278.9280.6284.3285.3288.1
Less:Inter-
est re-ceived
bygovern-ment2
3.33.53.94.24.65.16.06.87.78.39.9
10.611.914.417.319.220.923.530.339.950.562.175.084.895.6
107.6117.3120.5128.1136.2146.7153.279.088.499.8
112.3118.2121.6129.0125.2127.3131.0132.4134.3139.0139.3142.4142.9145.4156.0150.6151.3155.0156.0
Less:Divi-
dendsre-
ceivedby
govern-ment2
0.1.2.2.3.3.5.9.9.9
1.31.72.01.92.32.93.43.94.55.15.96.98.19.09.23.13.54.14.75.46.16.46.97.17.27.68.08.28.58.79.09.09.29.19.29.49.1
Subsi-dieslesscur-rentsur-
plus ofgovern-
mententer-prises
-0.9-.8
.2
.3-.3
.1
.31.41.21.21.52.62.43.42.6
.42.61.43.33.62.94.84.76.2
11.79.56.49.7
14.110.96.14.8
. .69.6
19.29.72.68.2
22.014.612.8-.316.515.46.5
-3.05.3
10.23.3
-5.210.82.71.9
-7.14.8
Surplusor
deficit(-),
na-tional
incomeand
prod-uct ac-counts
-3.13.6
-3.0-2.9
1.6161.2
-1.0-13.7-4.610.0
-11.5-19.2-3.9
6.945
-64.8-38.3-16.8
2.99.4
-35.3-30.3
-108.6-139.8
10881253
-146.8-111.7-98.3-83.0
-139.5-171.2-156.9-136.3-127.8-130.9-126.2-115.8-122.4-95.5-80.5-94.7-72.1-65.4-85.7
-108.9-130.5-128.4-123.6-175.6-126.1-179.1-178.4
Adden-dum:
Grants-in-aid
toStateandlocal
govern-ments
6.86.57.28.09.1
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.987.094.4
100.3107.6102.8111.3118.2132.2152.384.386.997.7
104.5103.8102.9108.5111.5112.1113.0115.7117.1118.2121.9128.1132.2131.2137.3143.7151.0153.3161.2
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Prior to 1968, dividends received is included in interest received.Source: Department of Commerce, Bureau of Economic Analysis.
390Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-79.—Federal Government receipts and expenditures, national income and product accounts,
1975-91
[Biilions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
Fiscal: 219751976197719781979198019811982198319841985198619871988198919901991
Calendar:1975197619771978197919801981198219831984198519861987.198819891990 i1991*1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV1988: 1
III l lIV
1989- I....I IIllIV
1990: 1I II l lIV
1991: 1III l lIV f
Receipts
Total
290.7322.0375.4423.8490.5538.1623.0642.7646.4711.7777.0813.8899.1955.1
1,047.11,087.91,116.2
294.8339.9384.0441.2504.7553.0639.0635.4660.0725.8788.6827.2913.8972.3
1,055.21,104.81,119.1
632.3671.1739.8803.6856.8943.5940.5970.4977.8
1,000.61,045.71,061.81,050.81,062.71,086.81,106.31,115.41,110.71,115.21,114.31,124.6
Personaltax andnontaxreceipts
127.1136.5165.2185.5221.6249.1287.9308.4290.7300.4337.0353.1396.3403.8455.7472.2474.5
125.4146.6169.1193.8229.7256.2297.2302.9292.6308.0342.8357.4400.6410.1460.2482.2470.3301.6290.5323,5351.8371.7414.8397.6413.5409.4420.0448.5465.7458.5467.9471.2485.4486.6485.5473.9468.8469.9468.9
Corpo-rate
profitstax
accruals
42.351.759.867.475.370.469.351.656.475.175.080.499.4
107.6116.7113.1103.2
43.654.661.671.474.470.365.749.061.375.276.383.8
103.2111.0113.9112.1102.045.565.467.077.091.4
109.7102.6109.8113.1118.5122.7116.9108.4107.4113.7114.1115.1105.799.0
102.0106.2
Indirectbusinesstax andnontax
accruals
22.524.625.027.929.936.254.351.552.057.059.153.857.959.662.263.775.6
24.223.825.628.930.139.657.349.753.557.858.653.558.460.961.965.878.849.255.458.256.854.859.560.060.161.961.461.061.662.762.164.664.865.268.578.277.178.781.2
Contri-butions
forsocialinsur-ance
98.8109.2125.4143.0163.7182.3211.5231.2247.3279.3305.9326.5345.5384.1412.5438.9462.9
101.7115.0127.7147.1170.4186.8218.8233.8252.6284.8310.9332.5351.5390.4419.4444.7467.9235.9259.8291.1318.0338.8359.4380.4387.1393.4400.7413.6417.6421.1425.2437.2442.0448.5451.1464.1466.3469.9471.4
Expenditures
Total1
336.0379.0417.1458.0505.4587.1679.9747.6829.2875.3952.9
1,017.61,051.01,098.51,162.11,245.61,305.4
364.2392.7426.4469.3520.3613.1697.8770.9840.0892.7969.9
1,028.21,065.61,109.01,179.41,270.11,319.8
815.7855.7926.6990.8
1,034.31,096.31,098.01,105.01,097.31,135.51,160.21,172.31,179.21,206.01,247.61,263.21,265.11,304.41,261.61,321.01,334.81,362.0
Purchases
Total
124.4132.6144.7158.1174.5201.0232.9259.5289.8302.2335.2363.7379.9386.3399.0416.4445.8
129.4135.8147.9162.2179.3209.1240.8266.6292.0310.9344.3367.8384.9387.0401.4424.9445.1281.4289.7324.7356.9373.1392.5386.6386.0383.5392.0392.6401.9407.6403.7417.2423.3424.7434.5451.5452.1444.9431.9
Na-tional
de-fense
86.391.599.2
106.3117.7136.9160.9187.3210.2228.2251.7274.3287.6295.1299.2308.4325.9
89.693.4
100.9108.9121.9142.7167.5193.8214.4233.1258.6276.7292.1295.6300.0313.4323.4205.5222.8242.9268.6278.6295.8296.7294.8294.0296.8293.9298.5305.8301.6309.3312.7311.1320.6332.3328.4322.3310.7
Transferpayments
Toper-sons
131.9154.3167.1179.3198.5235.4274.6305.6339.8342.4360.7380.6399.4420.7448.5488.9534.2
146.8159.3170.1182.4205.7247.0282.1316.4340.2344.3366.8386.2401.8425.9458.7498.2546.3337.8340.0346.2370.3391.4405.1423.0424.7426.6429.4447.9453.8461.7471.6490.7492.7498.4511.1535.3543.0547.4559.5
To restof theworld(net)
3.33.13.43.54.04.35.25.86.58.7
11.512.59.9
10.210.913.0289
3.53.73.43.84.15.05.06.47.39.4
11.412.310.410.410.812.6
-33.88.2
11.013.913.512.814.69.17.89.4
15.19.87.8
10.714.810.914.512.312.7
-77.8-37.9-12.5-7.1
Grants-in-aid
toStateandlocalgov-ern-
ments
48.457.566.374.779.186.790.183.486.291.598.6
108.3103.4108.4115.8128.3146.3
54.661.167.577.380.588.787.983.987.094.4
100.3107.6102.8111.3118.2132.2152.384.386.997.7
104.5103.8102.9108.5111.5112.1113.0115.7117.1118.2121.9128.1132.2131.2137.3143.7151.0153.3161.2
Netinter-estpaid
21.725.128.533.140.250.166.181.889.6
107.5125.2130.5133.6143.8160.3175.3185.2
23.026.829.134.642.152.771.784.492.7
113.1127.0131.0136.6146.0164.7177.5188.486.899.2
122.3129.2131.1143.1139.7145.0148.1151.2159.8165.8164.2168.8170.9177.5183.7177.7185.7189.7187.9190.5
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
6.06.57.29.49.19.6
11.011.516.823.021.622.124.928.927.623.722.8
7.16.28.49.28.7
10.610.313.320.420.819.923.429.128.425.524.721.517.328.822.216.422.137.831.130.017.634.934.425.916.725.129.823.014.831.223.422.713.925.9
Surplusor
deficit(-),
nationalincome
andproductaccounts
-45.2-57.0
417-34.1-14.9-49.0-56.91050
-182.8-163.6-175.9-203.9
1519-143.3-115.0-157.8-189.2
-69.4-52.9-42.4-28.1-15.7-60.1
588-135^5-180.1
1669-181.4-201.0-151.8-136.6-124.2-165.3-200.7-183.4-184.6-186.8-187.2-177.5-152.7-157.5-134.6-119.5-134.9-114.5-110.5-128.4-143.3-160.8-156.9-149.7-193.6-146.4-206.7-210.2
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year
is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal periodknown as the transition quarter.
Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.
391Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-80.—State and local government receipts and expenditures, national income and product accounts,1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Yearor
quarter
1959I960196119621963196419651966196719681969.1970....19711972197319741975. .19761977197819791980..19811982198319841985198619871988198919901991 "....1982: IV1983: IV1984: IV1985- IV1986: IV1987: IV...1988- 1
III l lIV
1989:1II..Il lIV..
1990: 1||I I IIV
1991: IIII l lIV P
Receipts
Total
45.048.352.456.661.167.172.381.589.8
102.7114.8129.0145.3169.7185.3200.6225.6253.9281.9309.3330.6361.4390.8409.0443.4492.2528.7571.2594.3631.3677.0724.5770.6417.9459.5505.1544.8582.4605.1613.5627.9635.7648.2660.2674.0682.5691.4709.2717.3730.3741.3749.4764.1777.4
Personaltax andnontaxreceipts
4.65.25.76.36.77.58.19.5
10.612.715.216.718.724.226.328.231.035.841.046.350.556.263.068.576.287.194.0
101.6111.8117.6131.5138.8145.770.581.189.997.0
106.8113.8113.3116.9118.3122.0125.8131.9133.3135.0135.4137.3140.9141.8143.2144.9145.2149.4
Corpo-rate
profitstax
accruals
1.21.21.31.51.71.82.02.22.63.33.63.74.35.36.06.77.39.6
11.412.113.614.515.414.015.918.820.222.723.926.024.123.221.413.116.816.820.625.225.524.025.926.527.726.524.822.822.423.823.823.721.420.421.422.4
Indirectbusinesstax andnontax
accruals
29.332.034.437.039.442.646.149.753.960.867.474.883.191.299.5
107.2115.8127.8139.9148.9158.6172.3192.0206.8226.6251.7271.4292.0306.5324.5349.1373.4391.9213.1236.3259.6278.3296.8312.8316.8322.0326.4332.7338.9346.5353.9357.1366.2367.5377.1382.6383.4387.3397.0399.8
Contribu-tions for
socialinsurance
3.13.43.73.94.24.75.05.76.77.28.39.2
10.211.513.014.616.819.522.124.727.429.732.535.837.740.242.847.349.251.954.157.059.436.838.441.144.349.850.250.951.752.352.853.253.754.355.055.756.657.458.258.859.459.659.9
Federalgrants-in-
aid
6.86.57.28.09.1
10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.987.094.4
100.3107.6102.8111.3118.2132.2152.384.386.997.7
104.5103.8102.9108.5111.5112.1113.0115.7117.1118.2121.9128.1132.2131.2137.3143.7151.0153.3161.2
Expenditures
Total 1
45.548.352.756.160.666.172.381.190.9
102.6113.3127.2142.8156.3171.9193.5221.0239.3256.3278.2305.4336.6362.3382.1403.2434.1472.6517.0554.2593.0635.9698.8741.1391.4411.1446.1488.4531.1568.1578.4588.8596.7607.9617.8628.9639.8657.0678.9688.8704.2723.3729.0736.5745.6753.2
Pur-chases
41.844.548.451.455.860.966.874.682.792.3
101.3112.6124.3134.7149.2170.7192.0205.5220.1241.4269.2298.0320.3341.1360.3389.9428.1465.3496.6531.7570.0618.0641.8350.3367.9402.2442.4476.6509.0518.1527.8535.1545.7554.9564.7573.3587.0604.0609.9621.4636.7637.3640.4644.2645.1
Trans-fer
pay-ments
toper-sons
5.65.96.57.07.58.28.8
10.112.114.516.720.124.027.530.432.338.943.647.452.457.265.773.679.985.993.5
101.2110.9119.6130.0143.3163.5186.582.188.096.1
104.5114.4122.9125.8128.5131.3134.2137.2140.8145.1150.2155.9161.0166.0171.0177.2182.7189.4196.7
Netinterest
paidlessdivi-
dendsreceived
0.1.1.1.2.1
-.1-.3-.6-.9
-1.1-1.3-2.0-1.6
1.8-3.3-5.2-5.4-5.0-6.0-9.8
-15.321.2
-25.9-31.8-34.3-37.9-43.2-45.6-47.0-51.1-57.9-62.7-66.3-33.2-35.1-39.7-44.7-45.9-48.0-49.0-50.3
51.8-53.4-55.4-57.2-58.9-60.3-61.4-62.4-63.1-64.0-64.8-65.9-67.0-67.5
Subsi-diesless
currentsurplus
ofgovern-
mententer-prises
-2.0-.2.2-2.3-2.5-2.8-2.8-3.0-3.0-3.1-3.2-3.3-3.6-3.7-4.2-4.3-4.4-4.5-4.8-5.1-5.6-5.7-5.8-5.6-7.1-8.7
-11.4-13.5-13.7-14.9-17.5-19.5-20.0-20.9-7.7-9.6
-12.5-13.8-13.9-15.8-16.5-17.2-17.9-18.5-19.0-19.4-19.7-19.8-19.6-19.7-20.0-20.4-20.8-20.8-21.0
21.1
Surplusor
deficit(-),
nationalincome
andproduct
accounts
-0.5.0
-.4.5.4
1.0.0.5
-1.1
L51.82.5
13.413.47.14.6
14.625.631.125.124.828.526.940.358.156.154.340.138.441.125.729.626.548.359.056.351.237.035.139.139.040.242.445.142.634.430.328.526.118.020.427.631.8
1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.
392Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-81.—State and heal government revenues and expenditures, selected fiscal years, 1927-90
[Millions of dollars]
Fiscal year'
1927
1932193419361938
194819421944194619481950195219531954195519561957195819591960 . .196119621963
1962-631963-641964-65
1965-661966-671967-681968-691969-70
1970-711971-721972-731973-741974-75
1975-761976-77...1977-781978-791979-80
1980-811981-821982-831983-841984-85
1985-861986-871987-881988-891989-90
General revenues by source *
Total
7,2717,2677,6788,3959,228
9,60910,41810,90812,35617,250
20,91125,18127,30729,012
31,07334,66738,16441,21945,306
50,50554,03758,25262,890
62,26968,44374,000
83,03691,197101,264114,550130,756
144,927167,541190,222207,670228,171
256,176285,157315,960343,279382,322
423,404457,654486,753542,730598,121
641,486686,860726,762786,129849,502
Propertytaxes
4,730
4,4874,0764,0934,440
4,4304,5374,6344,9866,1267,3498,6529,3759,967
10,73511,74912,86414,04714,983
16,40518,00219,054.20,089
19,83321,24122,583
24,67026,04727,74730,67334,054
37,85242,87745,28347,70551,491
57,00162,52766,42264,94468,499
74,96982,06789,10596,457103,757
111,709121,203132,212142,400155,613
Salesandgrossreceiptstaxes
470752
1,0081,4841,794
13822,3512,2892,9864,442
5,1546,3576,9277,276
7,6438,6919,4679,82910,437
11,84912,46313,49414,456
14,44615,76217,118
19,08520,53022,91126,51930,322
33,23337,51842,047.46,09849,81554,54760,64167,59674,24779,927
85,97193,613100,247114,097126,376
135,005144,091156,452166,336177,885
Indi-vidualincometaxes
707480153218224276342422543788998
1,0651,1271,2371,5381,7541,7591,994
2,4632,6133,0373,269
3,2673,7914,090
4,7605,8257,3088,90810,812
11,90015,22717,99419,49121,454
24,57529,24633,17636,93242,080
46,42650,73855,12964,52970,361
74,36583,93588,35097,806105,640
Corpo-rationnet
incometaxes
92
7949113165156272451447592593846817778744890984
1,0181,001
1,1801,2661,3081,505
1,5051,6951,9292,0382,2272,5183,1803,738
3,4244,4165,4256,0156,642
7,2739,17410,73812,12813,321
14,14315,02814,25817.14119,152
19,99422,42523,66325,92623,566
RevenuefromFederalGovern-ment
116232
1,016948800945858954855
1,8612,4862,5662,8702,966
3,1313,3353,8434,8656,377
6,9747,1317,8718,722
8,66310,00211,029
13,21415,37017,18119,15321,857
26,14631,34239,26441,82047,03455,58962,44469,59275,16483,02990,29487,28290,00796,935106,158
113,099114,857117,602125,824136,802
Allother3
1,7931,6431,4491,6041,8111,8722,1232,2692,6613,685
4,5415,7636,2526,897
7,5848,4659,2529,69910,516
11,63412,56313,48914,850
14,55615,95117,250
19,26921,19723,59826,11829,971
32,37436,16240,21046,54151,735
57,19161,12468,43679,86495,466111,599128,926138,008153,570172,317
187,314200,350208,482227,838249,996
General expenditures by function 2
Total
7,2107,7657,1817,6448,757
9,2299,1908,86311,02817,684
22,78726,09827,91030,701
33,72436,71140,37544,85148,887
51,87656,20160,20664,816
63,97769,30274,678
82,84393,350102,411116,728131,332
150,674168,549181,357198,959230,721
256,731274,215296,984327,517369,086
407,449436,733466,516505,008553,899
605,623657,134704,921762,360834,786
Educa-tion
2,235
2,3111,8312,1772,491
2,6382,5862,7933,3565,379
7,1778,3189,39010,557
11,90713,22014,13415,91917,283
18,71920,57422,21623,776
23,72926,28628,563
33,28737,91941,15847,23852,718
59,41365,81469,71475,83387,858
97,216102,780110,758119,448133,211
145,784154,282163,876176,108192,686
210,819226,619242,683263,898288,148
High-ways
1,8091,7411,5091,425.1,650
1,5731,4901,2001,6723,036
3,8034,6504,9875,527
6,4526,9537,8168,5679,592
9,4289,84410,35711,136
11,15011,66412,221
12,77013,93214,48115,41716,427
18,09519,02118,61519,94622,528
23,90723,05824,60928,44033,311
34,60334,52036,65539,41944,989
49,36852,35555,62158,10561,057
Publicwelfare
151444889827
1,069
1,1561,2251,1331,4092,099
2,9402,7882,9143,060
3,1683,1393,4853,8184,1364,4044,7205,0845,481
5,4205,7666,3156,7578,2189,85712,11014,679
18,22621,11723,58225,08528,155
32,60435,90639,14041,89847,288
54,10557,99660,90666,41471,479
75,86882,65089,09097,879110,518
Allother*
3,0153,2692,9523,2153,547
3,8623,8893,7374,5917,1708,86710,34210,61911,557
12,19713,39914,94016,54717,876
19,32521,06322,54924,423
23,67825,58627,579
30,02933,28136,91541,96347,508
54,94062,59769,44678,0%92,180103,004112,472122,477137,731155,277
172,957189,935205,079223,068244,745
269,568295,510317,528342,479375,062
1 Fiscal years not the same for all governments. See Note.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities. Intergovernmental
receipts and payments between State and local governments are also excluded.3 Includes other taxes and charges and miscellaneous revenues.4 Includes expenditures for libraries, hospitals, health, employment security administration, veterans' services, air transportation,
water transport and terminals, parking facilities, and transit subsidies, police protection, fire protection, correction, protective inspectionand regulation, sewerage, natural resources, parks and recreation, housing and community development, solid waste management,financial administration, judicial and legal, general public buildings, other governmental administration, interest on general debt, andgeneral expenditures, n.e.c.
Note.—Data for fiscal years listed from 1962-63 to 1989-90 are the aggregations of data for government fiscal years that ended inthe 12-month period from July 1 to June 30 of those years. Data for 1963 and earlier years include data for government fiscal yearsending during that particular calendar year.
Data are not available for intervening years.Source: Department of Commerce, Bureau of the Census.
393Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-82.—Interest-bearing public debt securities by kind of obligation, 1967-91
[Millions of dollars]
End of yearor month
Fiscal year:19671968 .1969
19701971197219731974 .
19751976197719781979
19801981 .198219831984
19851986198719881989
19901991
1990: JanFebMarAprMayJune
JulyAugSeptOct .NovDec
1991- JanFebMar .
fcr:June
JulyAugSeptOctNovDec
Totalinterest-bearingpublicdebt
securities
322,286344,401351,729
369,026396,289425,360456,353473,238
532,122619,254697,629766,971819,007
906,402996,495
1,140,8831,375,7511,559,570
1,821,0102,122,6842,347,7502,599,8772,836,309
3,210,9433,662,759
2,971,8412,991,0173,029,5373,058,4043,092,5583,121,498
3,166,2723,209,1863,210,9433,272,4923,328,1933,362,026
3,408,6373,455,9103,441,3673,442,4023,494,5763,516,066
3,574,2263,600,6033,662,7593,714,5923,732,2813,798,859
Marketable
Total »
4 210,672226,592226,107
232,599245,473257,202262,971266,575
315,606392,581443,508485,155506,693
594,506683,209824,422
1,024,0001,176,556
1,360,1791 1,564,3291 1,675,9801 1,802,9051 1,892,7631 2,092,7591 2,390,6601 1,974,6371 1,990,9991 1,995,2991 2,001,4941 2,024,7381 2,028,0411 2,068,3221 2,114,0411 2,092,7591 2,139,4861 2,183,5851 2,195,8001 2,221,7461 2,257,0981 2,227,9141 2,237,6821 2,278,5451 2,268,0601 2,327,8121 2,347,6291 2,390,6601 2,429,2261 2,439,4061 2,471,646
Treasurybills
58,53564,44068,356
76,15486,67794,648100,061105,019
128,569161,198156,091160,936161,378
199,832223,388277,900340,733356,798
384,220410,730378,263398,451406,597
482,454564,589
435,337437,755453,077433,089439,922453,505
464,851493,789482,454500,649528,765527,415
537,383541,742533,262504,404512,912521,544
538,211551,555564,589585,908589,735590,389
Treasurynotes
49,10871,07378,946
93,489104,807113,419117,840128,419
150,257191,758241,692267,865274,242
310,903363,643442,890557,525661,687
776,449896,884
1,005,1271,089,5781,133,193
1,218,0811,387,717
1,176,0971,180,3811,169,3641,195,5501,203,012.1,192,739
1,221,6941,228,0211,218,0811,246,6181,251,6471,265,215
1,281,2001,301,0871,280,3851,319,0151,339,4191,320,313
1,363,4031,357,7151,387,7171,404,9751,399,1951,430,784
Treasurybonds
97,41891,07978,805
62,95653,98949,13545,07133,137
36,77939,62645,72456,35571,073
83,77296,178103,631125,742158,070
199,510241,716277,590299,875337,974
377,224423,354
348,203357,862357,858357,855366,804366,797
366,776377,230377,224377,220388,174388,170
388,164399,270399,268399,263411,214411,203
411,199423,359423,354423,343435,476435,473
Nonmarketable
Total
111,614117,808125,623
136,426150,816168,158193,382206,663
216,516226,673254,121281,816312,314
311,896313,286316,461351,751383,015
460,831558,355671,769796,972943,546
1,118,1841,272,099
997,2041,000,0191,034,2381,056,9101,067,8201,093,457
1,097,9501,095,1461,118,1841,133,0061,144,6081,166,226
1,186,8911,198,8111,213,4531,204,7191,216,0311,248,006
1,246,4141,252,9741,272,0991,285,3671,292,8751,327,213
U.S.savingsbonds
51,21351,71251,711
51,28153,00355,92159,41861,921
65,48269,73375,41179,79880,440
72,72768,01767,27470,02472,832
77,01185,55197,004106,176114,025
122,152133,512
116,169116,265117,979118,645119,455120,058
120,760121,371122,152122,828123,630124,118
125,294126,524127,726129,145130,246131,268
132,062132,744133,512134,545135,402135,924
Foreigngovern-mentand
publicseries 2
1,5143,7414,070
4,7559,27018,98528,52425,011
23,21621,50021,79921,68028,115
25,15820,49914,64111,4508,806
6,6384,1284,3506,3206,818
36,04141,639
6,9976,39837,06237,10236,81436,382
36,28436,04636,04135,84537,14343,455
43,21142,66542,78842,68042,62142,101
42,11842,02441,63941,47241,73641,940
Govern-ment
accountseries
56,15559,52666,790
76,32382,78489,598101,738115,442
124,173130,557140,113153,271176,360
189,848201,052210,462234,684259,534
313,928365,872440,658536,455663,677
779,412908,406
701,834704,621705,145722,887733,612758,697
759,702756,055779,412789,922799,190813,842
828,789839,760853,086842,527852,749883,188
886,229889,893908,406920,079926,101959,185
Other '
2,7312,8283,051
4,0685,7593,6543,7014,289
3,6444,88316,79727,06727,400
24,16423,71824,08535,59341,843
63,255102,804129,758148,023159,025
180,581188,541
172,205172,735174,052178,275177,938178,321
181,203181,672180,581184,411184,644184,811
189,598189,862189,853190,368190,415191,450
186,004188,315188,541189,269189,636190,164
w r ly, in the amount of 15,000 million dollars.2 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-currency denominated issues.
3 Includes depository bonds, retirement plan bonds, Rural Electrification Administration bonds, State and local bonds, and specialissues held only by U.S. Government agencies and trust funds and the Federal home loan banks.
4 Includes $5,610 million in certificates not shown separately.Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal
year is on an October 1-September 30 basis.Source: Department of the Treasury.
394Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-83.—Maturity distribution and average length of marketable interest-bearing public debt securitiesheld by private investors, 1967-91
End of year or month
Fiscal year:1967 ...19681969
19701971.197219731974
1975.1976197719781979
19801981...198219831984
19851986198719881989
1990....1991
1990: JanFebMarAprMayJune
JulyAugsept::::::::::::::OctNovDec
1991: JanFebMarAprMayJune
JulyAugSeptOctNovDec
Amountout-
standing,privatefyheld
Maturity class
Withinlyear
Ito5years
5 to 10years
10 to 20years
20 vearsana over
Millions of dollars
150,321159,671156,008
157,910161,863165,978167,869164,862
210,382279,782326,674356,501380,530
463,717549,863682,043862,631
1,017,488
1,185,6751,354,2751,445,3661,555,2081,654,660
1,841,9032,113,799
1,737,7371,753,5791,760,3371,758,7371,778,9841,780,188
1,817,6911,859,2881,841,9031,880,4121,920,2921,925,391
1,954,2461,987,3881,970,5191,974,8832,012,1272,003,121
2,054,7822,075,2552,113,7992,143,2442,157,1592,171,507
56,56166,74669,311
76,44374,80379,50984,04187,150
115,677150,296161,329163,819181,883
220,084256,187314,436379,579437,941
472,661506,903483,582524,201546,751
626,297713,778
585,754587,028605,415580,464586,720596,897
607,047636,667626,297639,338663,157666,891
677,365686,639678,000647,282662,538673,231
688,269702,752713,778736,169743,407742,609
53,58452,29550,182
57,03558,55757,15754,13950,103
65,85290,578113,319132,993127,574
156,244182,237221,783294,955332,808
402,766467,348526,746552,993578,333
630,144761,243
607,706617,778598,143620,335631,287613,441
639,408647,175630,144653,904666,527660,908
679,371699,981685,842720,023736,577717,100
752,002733,723761,243769,530769,070788,493
21,05721,85018,078
8,28614,50316,03316,38514,197
15,38524,16933,06733,50032,279
38,80948,74375,74999,174130,417
159,383189,995209,160232,453247,428
267,573280,574
252,068248,620256,703257,785250,813259,688
261,075258,038267,573269,281262,195270,082
270,662265,683268,356269,257264,523264,344
266,064280,576280,574280,645276,457274,222
6,1536,1106,097
7,8766,3576,3588,7419,930
8,8578,0878,42811,38318,489
25,90132,56933,01740,82649,664
62,85370,66472,86274,18680,616
82,71384,900
83,79283,42383,40283,42385,24685,246
85,24682,58782,71382,71386,47686,105
86,12984,44685,13685,13687,19887,198
87,19884,90084,90084,39487,46187,203
12,96812,67012,337
8,2727,6456,9224,5643,481
4,6116,65210,53114,80520,304
22,67930,12737,05848,09766,658
88,012119,365153,016171,375201,532
235,176273,304
208,417216,730216,674216,730224,918224,916
224,916234,821235,176235,176241,937241,405
240,719250,639253,185253,185261,291261,248
261,248273,304273,304272,506280,764278,980
Average length
Years
544
33332
22233
34344
45556
66
566666
666565
566666
666566
Months
152
863111
871137
901116
113990
10
1110021
00111011
1100021
0101110
Note.—All issues classified to final maturity.Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year is
on an October 1-September 30 basis.Source: Department of the Treasury.
395Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-84.—Estimated ownership of public debt securities by private investors, 1976-91
[Par values;'billions of dollars]
End of month
1976:JuneDec
1977:JuneDec
1978:JuneDec
1979:JuneDec
1980:JuneDec
1981:JuneDec
1982:JuneDec
1983:
Dec1984:
JuneDec
1985:MarJuneSept :.Z::::.Dec....::.:.:::::::::.
1986:MarJuneSeptDec
1987:Mar...JuneSeptDec
1988:MarJuneSeptDec.::::::::::::::::
1989:MarJune ::.:::.Sept ..Deb ::::::::::
1990:MarJuneSeptDec.:::::::::::::::::.
1991:MarJuneSept
Held by private investors
Total
376.4409.5
421.0461.3
477.8508.6
516.6540.5
558.2616.4
651.2694.5
740.9848.4
948.61,022.6
1,102.21,212.5
1,254.11,292.01,338.21,417.2
1,473.11,502.71,553.31,602.0
1,641.41,658.11,680.71,731.4
1,779.61,786.71,821.21,858.5
1,903.41,909.11,958.32,015.8
2,115.12,141.82,207.32,288.3
2,360.62,397.92,489.4
Commer-cial
banks2
91.4103.5
102.798.9
97.895.0
86.188.1
97.4112.1
119.7111.4
116.1131.4
171.6188.8
185.4186.0
197.8201.6203.6198.2
201.7200.6200.9203.5
199.9199.4205.2201.5
203.3198.3199.2193.8
200.7186.6174.8174.8
189.2185.5188.0179.5
194.8204.2214.0
Nonbank investors
Total
285.0306.0
318.3362.4
380.0413.6
430.5452.4
460.8504.3
531.5583.1
624.8717.0
777.0833.8
916.81,026.5
1,056.31,090.41,134.61,219.0
1,271.41,302.11,352.41,398.5
1,441.51,458.71,475.51,529.9
1,576.31,588.41,622.01,664.7
1,702.71,722.51,783.51,841.0
1,925.91,956.32,019.32,108.8
2,165.82,193.72,275.4
Individuals3
Toy
96.1101.6
104.9107.8
109.0114.0
115.5118.0
116.5117.1
107.4110.8
114.1116.5
121.3133.4
142.2143.8
145.1148.7151.4154.8
157.8159.5158.0162.7
163.0165.6167.7172.4
178.1182.0186.8190.4
204.2211.7213.5216.4
222.8229.7232.5233.8
238.3243.5257.5
Savingsbonds*
69.672.0
74.476.7
79.180.7
80.679.9
73.472.5
69.268.1
67.468.3
69.771.5
72.974.5
75.476.778.279.8
81.483.887192.3
94.796.898.5
101.1
104.0106.2107.8109.6
112.2114.0115.7117.7
119.9121.9123.9126.2
129.7133.2135.4
Othersecurri-
ties
26.529.6
30.531.1
29.933.3
34.938.1
43.144.6
38.242.7
46.748.2
51.661.9
69.369.3
69.772.073.275.0
76.475.770.970.4
68.368.869.271.3
74.175.879.080.8
92.097.797.898.7
102.9107.8108.6107.6
108.6110.3122.1
Insur-ance
"sr14.416.2
18.119.9
19.720.0
20.921.4
22.324.0
26.429.0
35.844.1
54.065.3
64.264.5
66.569.171.478.5
84.088.696.4
105.6
107.8104.0104.6104.9
103.6103.8105.1107.3
120.4121.7124.1130.1
135.9138.0142.7145.4
149.3155.1157.0
marketfunds
0.81.1
.8
.9
1.31.5
3.85.6
5.33.5
9.021.5
22.442.6
28.322.8
14.925.9
26.724.822.725.1
29.922.824.928.6
18.820.615.514.6
15.213.411.111.8
13.011.312.914.9
31.328.034.045.5
65.755.264.5
Corpora-tions8
23.323.5
22.118.2
17.317.3
18.617.0
14.019.3
19.917.9
17.624.5
32.839.7
45.350.1
50.854.959.059.0
59.661.265.768.8
73.579.781.884.6
86.387.685.986.0
89.491.090.993.4
94.996.9
102.0108.9
114.9130.8142.0
State andlocal
govern-ments'
34.240.9
50.358.1
70.076.1
78.781.7
83.387.9
94.296.8
103.3115.0
127.4149.0
162.9173.0
177.0190.3203.0226.7
225.6227.1251.2262.8
264.6268.7273.0284.6
291.4297.2305.7313.6
326.0332.0338.0338.7
330.3330.3330.8329.6
329.5327.0326.0
Ftrinterna-tional7
69.878.1
87.9109.6
119.5133.1
114.9119.0
118.2129.7
136.6136.6
137.2149.5
160.1166.3
171.6205.9
199.6213.8222.9224.8
232.6250.9265.5263.4
272.8281.1279.5299.7
332.5345.4345.9362.2
376.6369.1394.9392.9
385.8392.3404.9423.2
430.7441.2444.8
Otherinves-tors8
46.444.6
34.247.9
43.251.6
78.189.7
101.2122.8
138.0170.5
194.4224.8
253.1257.3
315.7363.3
390.6388.8404.2450.1
481.9492.0490.7506.6
541.0539.0553.4569.1
569.2559.0581.5593.4
573.1585.7609.2654.6
724.9741.1772.4822.4
837.4840.9883.6
1 U.S. swings bonds, series A-F and J, are included at current redemption value.* Includes fcmestidly chartered banks, U.S. branches and agencies of foreign banks, New York investment companies majority owned by foreign banks,
and Edge Act corporations owned by domesticaNy chartered and foreign banks.8 Includes partnerstaps and personal trust accounts.«Includes U.S. savings notes. Sates began May 1,1967, and were discontinued June 30,1970.»Exclusive of banks and insurance companies.8 Includes State and local pension funds.7 Consists of the investment of foreign balances and international accounts in the United States.8 Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and brokers,
certain Government deposit accounts, and Government-sponsored agencies.Source: Department of the Treasury.
396Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
CORPORATE PROFITS AND FINANCE
TABLE B-85.—Corporate profits with inventory valuation and capital consumption adjustments, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
19591960196119621963196419651966....19671968196919701971 .. .19721973197419751976197719781979.19801981 ...1982198319841985198619871988198919901982: IV ..1983: IV1984: IV1985: IV1986: IV1987: IV1988- 1
||II IIV
1989:1III l lIV. ...
1990- 1III I I .IV
1991:1IIIIIIV
Corporateprofits with
inventoryvaluation
and capitalconsumptionadjustments
52.350.751.659.665.172.182.988.686.092.689.677.590.3
103.2116.4104.5121.9147.1175.7199.7202.5177.7182.0151.5212.7264.2280.8271.6319.8365.0351.7319.0150.3229.1261.3284.9264.6343.3352.1364.2365.3378.3366.2361.0345.0334.7340.2339.8299.8296.1302.1303.5306.1
Corporateprofits tax
liability
23.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.177.294.096.5
106.5127.1137.0138.0135.358.782.283.897.6
116.6135.2126.6135.7139.6146.2149.2141.7131.2129.8137.6137.9138.8127.1119.4123.5128.6
Corporate profits after tax with inventoryvaluation and capital consumption adjustments
Total
28.628.028.835.638.944.152.054.953.353.249.943.152.661.367.152.771.082.8
102.6116.2114.592.9
100.988.4
135.4170.2184.2165.1192.8228.0213.7183.691.7
146.9177.5187.2148.1208.1225.6228.5225.6232.2216.9219.3213.8204.9202.7201.9161.0169.0182.7180.0177.5
Dividends
12.713.414.015.016.118.020.220.922.124.625.223.723.725.828.130.430.135.640.745.952.459.069.270.081.282.792.4
109.8106.2115.3127.9133.7
72.584.283.497.4
111.0106.3109.6113.3117.5121.0124.6127.1129.1130.7132.3132.5133.8136.2137.8136.7138.1138.5
Undistributedprofits with
inventoryvaluation
and capitalconsumptionadjustments
15.914.614.820.622.826.131.834.031.228.624.719.428.835.539.022.340.947.261.970.362.133.931.718.454.287.591.955.486.5
112.685.849.919.262.794.189.937.1
101.8116.0115.2108.1111.292.392.284.774.270.469.427.232.845.043.439.4
Source: Department of Commerce, Bureau of Economic Analysis.
397Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-86.—Corporate profits by industry, 7959-97
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
1959
19601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
1980 '.1981198219831984
19851986198719881989
19901991 '
1982: IV1983: IV1984: IV1985: IV1986: IV1987: IV
1988:1III l lIV
1989: 1IIIllIV
1990- 1IIIllIV
1991- 1III l l
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Total
53.1
51.051.356.461.267.5
77.683.080.386.983.2
71.885.597.9
110.9103.4
129.4158.8186.7212.8219.8
197.8203.2166.4202.2236.4
225.3227.6273.4320.3327.0
318.2
160.0216.2223.6228.0225.0293.4
303.3316.8320.4340.5
332.9332.2323.6319.2
330.0335.4302.4304.9
315.7316.1313.4
Domestic industries
Total
50.4
47.848.052.657.163.0
72.978.575.581.376.6
64.777.788.496.085.9
114.8142.3167.7190.2185.6
162.9174.0138.6171.9205.2
194.5194.6233.9271.2273.1
258.0248.4
130.8182.6192.9193.5192.5246.3
257.0270.3271.5285.9
279.3283.0271.9258.3
271.9282.1245.8232.1
241.2254.4250.4
Financial l
Total
7.0
7.77.57.67.37.5
7.99.29.5
10.911.6
13.115.216.417.516.2
15.919.925.731.831.6
24.318.715.624.520.3
28.735.836.441.839.2
39.642.2
23.022.120.329.034.739.4
32.542.146.646.1
46.443.934.032.4
41.441.539.336.4
40.142.143.5
FederalReservebanks
0.7
.9
.8
.91.01.1
1.31.72.02.53.1
3.53.33.34.55.7
5.65.96.17.69.4
11.814.415.214.616.4
16.315.515.717.620.2
21.320.6
14.615.217.216.015.216.1
16.916.917.818.9
19.620.619.920.5
20.421.022.321.7
21.020.420.8
Other
6.3
6.76.86.86.46.4
6.57.57.68.48.5
9.611.913.113.010.5
10.314.019.624.122.2
12.64.3
.49.93.9
12.420.320.724.219.0
18.321.6
8.36.93.2
13.019.523.3
15.625.128.827.2
26.823.314.111.9
21.020.517.014.7
19.121.722.7
Nonfinancial
Total
43.4
40.240.445.049.855.5
65.069.366.070.465.0
51.662.572.078.569.7
98.9122.4142.0158.4153.9
138.5155.3123.0147.4185.0
165.8158.9197.5229.4233.9
218.3206.2
107.8160.5172.6164.5157.8207.0
224.5228.3224.9239.7
232.9239.1237.9225.9
230.5240.7206.5195.7
201.0212.3206.9
Manu-fac-
turing 2
26.5
23.823.426.329.632.4
39.742.439.041.737.0
27.134.841.446.740.7
54.570.778.589.688.3
75.887.463.171.486.7
80.159.087.0
117.5113.6
95.782.0
50.190.579.283.363.998.7
110.4114.2115.9129.3
122.2117.0114.1101.0
102.1107.194.878.9
75.082.984.1
Trans-portation
and publicutilities
7.1
7.57.98.59.5
10.2
11.011.910.911.010.6
8.28.99.49.07.6
10.915.318.521.716.9
18.320.120.828.939:9
34.136.543.447.545.0
44.545.6
18.219.133.531.334.243.1
44.547.750.147.6
44.148.645.941.3
49.249.741.537.5
45.749.244.3
Wholesaleand retail
trade
6.2
5.25.56.36.47.9
8.68.89.7
10.911.2
10.312.314.114.613.7
21.923.127.827.728.3
22.831.631.938.749.7
43.146.339.937.142.8
39.844.9
33.840.750.839.043.139.3
40.436.732.139.3
39.041.146.045.1
41.645.134.438.2
45.346.944.6
Other
3.6
3.63.63.94.45.1
5.66.26.46.86.2
5.96.67.18.27.7
11.613.317.119.420.5
21.616.27.28.48.7
8.517.127.227.332.6
38.433.7
5.710.29.0
11.016.625.8
29.229.626.823.5
27.532.431.938.5
37.738.735.941.1
35.133.333.9
Restof theworld
2.7
3.13.33.84.14.5
4.74.54.85.66.6
7.17.99.5
14.917.5
14.616.518.922.634.3
35.029.227.830.431.2
30.832.939.549.153.9
60.2
29.233.630.734.532.647.0
46.346.548.954.6
53.649.351.760.9
58.153.256.672.8
74.661.763.0
1 Consists of the following industries: Depository institutions; nondepository credit institutions; security and commodity brokers;insurance carriers; regulated investment companies; small business investment companies; and real estate investment trusts.
2 See Table B-87 for industry detail.Note.—The industry classification is on a company basis and is based on the 1987 Standard Industrial Classification (SIC) beginning
1987, and on the 1972 SIC for earlier years shown.Source: Department of Commerce, Bureau of Economic Analysis.
398Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-87.—Corporate profits of manufacturing industries, 1959-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
1959 ..
I9601961196219631964
19651966196719681969.:
19701971197219731974
19751976197719781979
19801981198219831984
1985198619871988 ..1989
19901991 "...
1982- IV1983: IV1984: IV. . ..1985: IV1986- IV1987: IV
1988- 1IIIII .IV
1989:1III I I .IV
1990:1IIIIIIV
1991-1 .III I I .
Corporate profits with inventory valuation adjustment and without capital consumption adjustment
Totalmanufac-
turing
26.5
23.823.426.329.632.4
39.742.439.041.737.0
27.134.841.446.740.7
54.570.778.589.688.3
75.887.463.171.486.7
80.159.087.0
117.5113.6
95.782.0
50.190.579.283.363.998.7
110.4114.2115.9129.3
122.2117.0114.1101.0
102.1107.194.878.9
75.082.984.1
Durable goods
Total
13.7
11.711.414.116.418.0
23.223.921.222.419.0
10.416.622.625.015.1
20.331.237.645.036.5
17.918.14.8
18.437.2
29.030.042.252.250.2
37.223.9
-5.333.434.228.834.235.2
42.755.554.256.4
54.552.049.045.4
45.742.735.624.6
20.426.524.0
Pri-marymetalindus-tries
2.3
2.01.61.62.02.5
3.13.62.71.91.4
.8
.81.62.35.0
2.72.11.03.63.5
2.63.0
-4.749-.4
-.9.9
2.65.96.4
4.61.9
5 2-3.7-1.0-1.3
1.73.3
4.65.96.46.5
6.27.27.25.3
5.74.83.54.3
2.91.71.1
Fabri-catedmetalprod-ucts
1.1
.81.01.21.31.4
2.12.42.52.32.0
1.11.52.22.61.8
3.23.94.55.05.2
4.34.42.63.14.5
4.75.35.26.46.9
5.64.5
1.14.95.24.04.76.0
7.56.65.16.4
8.07.17.55.0
7.56.34.93.7
3.04.94.9
Indus-trial
machin-ery andequip-ment
2.2
1.81.92.42.53.3
4.04.54.14.13.7
3.03.04.34.73.1
4.86.78.3
10.49.1
7.58.23.44.46.3
5.33.27.3
10.510.3
10.28.2
1.06.55.07.02.66.3
10.312.211.48.0
9.110.68.9
12.6
11.410.29.89.3
9.59.46.8
Elec-tronicand
otherelectricequip-ment
1.7
1.31.31.51.61.7
2.73.03.02.92.3
1.31.92.83.2.5
2.63.85.86.65.4
5.04.91.33.44.8
2.42.66.27.68.7
7.96.2
1 06.64.12.03.32.9
3.77.79.49.7
8.38.87.3
10.3
9.98.97.25.7
7.27.05.3
Motorvehicles
andequip-ment
3.0
3.02.54.04.94.6
6.25.14.05.54.8
1.35.15.95.9
2.27.49.38.94.6
-4.3.2
-.45.28.9
7.34.43.75.71.7
-7.1-10.7
2 99.48.57.34.5
.6
1.34.27.89.6
7.03.4
1-3.6
-6.844
-5.0123
-14.9-11.4-8.3
Other
3.5
2.83.13.54.04.5
5.25.35.05.74.9
3.04.25.76.34.1
4.87.48.6
10.58.6
2.8272.67.2
13.1
10.113.717.316.116.2
16.013.8
1.79.7
12.49.7
17.416.2
15.319.014.016.2
15.915.018.315.7
18.017.015.114.0
12.714.914.2
Nondurable goods
Total
12.8
12.112.012.213.214.4
16.418.417.819.218.0
16.818.218.821.725.7
34.139.541.044.651.8
57.869.358.353.049.5
51.129.044.865.363.4
58.558.0
55.557.145.054.529.763.4
67.758.761.772.9
67.765.165.155.6
56.364.459.254.2
54.556.460.0
Foodand
kindredprod-ucts
2.5
2.22.42.42.72.7
2.83.33.23.23.0
3.23.52.92.52.6
8.67.16.86.15.8
6.09.07.25.87.3
8.47.5
11.411.811.8
12.616.4
6.76.17.37.88.2
13.4
13.411.89.6
12.3
14.511.211.110.4
8.013.714.713.9
15.015.817.1
Chemi-calsand
alliedprod-ucts
3.5
3.13.33.23.74.1
4.64.94.35.24.6
3.94.55.26.15.2
6.38.27.78.27.1
5.57.64.76.87.3
6.08.0
15.119.319.9
20.319.3
3.17.76.03.59.5
18.5
20.216.816.324.0
20.020.920.418.1
21.222.620.317.0
16.618.721.5
Petro-leumandcoalprod-ucts
2.6
2.62.22.22.22.3
2.93.43.93.73.3
3.63.73.25.2
10.7
9.813.312.915.524.5
33.638.631.622.115.9
17.1-8.5
3610.47.2
6.53.5
29.024.113.024.11337.4
9.16.2
12.314.2
8.17.38.94.6
6.57.34.38.0
8.72.9.8
Other
4.3
4.24.24.44.75.3
6.16.86.47.07.0
6.16.57.57.97.2
9.411.013.614.814.6
12.914.214.818.319.1
19.721.921.923.824.5
19.218.8
16.619.218.619.225.324.1
25.124.023.522.4
25.125.624.622.5
20.520.919.915.4
14.219.120.6
Note.—The industry classification is on a company basis and is based on the 1987 Standard Industrial Classification (SIC) beginning1987 and on the 1972 SIC for earlier years shown.
Source: Department of Commerce, Bureau of Economic Analysis.
399Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-88.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-91
[Billions of dollars]
Year orquarter
1950195119521953195419551956195719581959I9601961196219631964196519661967 :1968196919701971 ...197219731973- IVNew series:1973: IV1974
1975197619771978197919801981198219831984 ..
19851986198719881989
1990
1989: 1||IIIIV
1990: 1IIIllIV
1991: 1||III
All manufacturing corporations
Sales(net)
181.9245.0250.2265.9248.5278.4307.3320.0305.3338.0345.7356.4389.4412.7443.1492.2554.2575.4631.9694.6708.8751.1849.5
1,017.2
275.1
236.6
1,060.61,065.21,203.21,328.11,496.41,741.81,912.82,144.72,039.42,114.32,335.0
2,331.42,220.92,378.22,596.22,745.1
2,810.9
666.0707.5681.3690.3
671.4706.9705.1727.4
652.9696.9696.9
Profits
Beforeincometaxes1
23.227.422.924.420.928.629.828.222.729.727.527.531.934.939.646.551.847.855.458.148.152.963.281.421.4
20.692.179.9
104.9115.1132.5154.2145.8158.6108.2133.1165.6
137.0129.3173.0216.1188.8
159.6
53.353.346.735.4
40.150.042.127.4
27.032.728.3
Afterincometaxes
12.911.910.711.311.215.116.215.412.716.315.215.317.719.523.227.530.929.032.133.228.631.036.548.113.0
13.258.749.164.570.481.198.792.6
101.370.985.8
107.6
87.683.1
115.6154.6136.3
111.6
37.936.633.428.4
28.135.129.618.8
18.323.018.5
Stock-holders'equity2
83.398.3
103.7108.2113.1120.1131.6141.1147.4157.1165.4172.6181.4189.7199.8211.7230.3247.6265.9289.9306.8320.8343.4374.1386.4
368.0
395.0423.4462.7496.7540.5600.5668.1743.4770.2812.8864.2
866.2874.7900.9957.6999.0
1,043.9
988.6991.8
1,001.41,014.1
1,026.61,039.81,054.61,054.5
1,054.81,061.91,072.0
Durable goods industries
Sales(net)
86.8116.8122.0137.9122.8142.1159.5166.0148.6169.4173.9175.2195.3209.0226.3
257.0291.7300.6335.5366.5
363.1381.8435.8527.3
140.1
122.7529.0521.1589.6657.3760.7865.7
889.1979.5913.1973.5
1,107.6
1,142.61,125.51,178.01,284.71,356.6
1,357.3
331.7352.8332.3339.8
325.8354.0337.7339.9
305.3337.2330.4
Profits
Beforeincometaxes '
12.915.412.914.011.416.516.515.811.415.814.013.616.818.5
.21.226.229.225.730.631.523.026.533.643.610.8
10.141.135.350.757.969.672.457.467.234.748.775.5
61.552.178.091.775.2
57.6
22.023.718.910.7
16.322.012.86.4
3.510.63.8
Afterincometaxes
6.76.15.55.85.68.18.37.95.88.17.06.98.69.5
11.614.516.414.616.516.912.914.518.424.86.3
6.224.721.430.834.841.845.235.641.621.730.048.9
38.632.653.067.155.7
40.9
15.916.713.89.3
11.815.79.44.1
1.47.51.6
Stock-holders'equity2
39.947.249.852.454.958.865.270.572.877.982.384.989.193.398.5
105.4115.2125.0135.6147.6155.1160.4171.4188.7194.7
185.8196.0208.1224.3239.9262.6292.5317.7350.4355.5372.4395.6
420.9436.3444.3468.7501.3
515.0
495.8500.2502.6506.6
506.4517.0519.0517.5
510.0514.1512.7
Nondurable goods industries
Sales(net)
95.1128.1128.0128.0125.7136.3147.8154.1156.7168.5171.8181.2194.1203.6216.8235.2262.4274.8296.4328.1345.7369.3413.7489.9135.0
113.9531.6544.1613.7670.8735.7876.1
1,023.71,165.21,126.41,140.81,227.5
1,188.81,095.41,200.31,311.51,388.5
1,453.6
334.3354.7348.9350.5
345.6352.9367.5387.5
347.6359.7366.5
Profits
Beforeincometaxes1
10.312.110.010.49.6
12.113.212.411.313.913.513.915.116.418.320.322.622.024.826.625.226.529.637.810.6
10.551.044.654.357.262.981.888.491.373.684.490.0
75.677.295.1
124.4113.5
102.0
31.429.627.824.7
23.828.029.221.0
23.522.124.5
Afterincometaxes
6.15.75.25.55.67.07.87.56.98.38.28.59.2
10.011.613.014.614.415.516.415.716.518.023.36.7
7.034.127.733.735.539.353.556.959.649.355.858.8
49.150.562.687.580.6
70.6
21.919.919.619.2
16.319.520.214.7
16.915.516.9
Stock-holders'equity2
43.551.153.955.758.261.366.470.674.679.283.187.792.396.3
101.3106.3115.1122.6130.3142.3151.7160.5172.0185.4191.7
182.1199.0215.3238.4256.8277.9308.0350.4393.0414.7440.4468.5
445.3438.4456.6488.9497.7
528.9
492.8491.6498.8507.6
520.2522.7535.6537.0
544.8547.8559.3
1 In the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.
* Annual data are average equity for the year (using four end-of-quarter figures).Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, industry
classifications, sampling procedures, etc. For explanatory notes concerning compilation of the series, see "Quarterly Financial Report forManufacturing, Mining, and Trade Corporations, Department of Commerce, Bureau of the Census.
Source: Department of Commerce, Bureau of the Census.
400Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE &-89*-^ReIation. of profits after taxes to stockholders' equity and to sales, all manufacturing
corporations, 1947-91
Year or quarter
1947 ..19481949
19501951195219531954
1955195619571958 ..1959
1960196119621963 .1964
19651966196719681969
1970197119721973
1973: IV
New series:1973- IV
1974 ..
19751976197719781979
1980 . . .198119821983 .1984
19851986 ...198719881989
1990
1989: 1 ....(IillIV
1990:1||IllIV _.
1991:1||III
Ratio of profits after income taxes (annualrate) to stockholders' equity— percent *
Allmanufacturingcorporations
15.616.011.6
15.412.110.310.59.9
12.612.310.98.6
10.4
9.28.99.8
10.311.6
13.013.411.712.111.5
9.39.7
10.612.8
13.4
14.3
14.9
11.613.914.215.016.4
.13.913.69.2
10.612.5
10.19.5
12.816.113.6
10.7
15.314.813.411.2
10.913.511.27.1
6.98.76.9
Durablecoods
industries
14.415.712.1
16.913.011.111.110.3
13.812.811.38.0
10.4
8.58.19.6
10.111.7
13.814.211.712.211.4
8.39.0
10.813.1
12.9
13.3
12.6
10.313.714.516.015.411.211.96.18.1
12.4
9.27.5
11.914.311.1
8.0
12.913.411.07.3
9.312.17.23.2
1.15.91.3
Nondurablegoods
industries
16.616.211.2
14.111.29.79.99.6
11.411.810.69.2
10.4
9.89.69.9
10.411.5
12.212.711.811.911.5
10.310.310.512.6
14.0
15.3
17.1
12.914.213.814.217.4
16.315.211.912.712.5
11.011.513.717.916.2
13.4
17.816.215.715.1
12.514.915.110.9
12.411.312.1
Profits after income taxes per dollar ofsales— cents
Allmanufacturingcorporations
6.77.05.8
7.14.94.34.34.5
5.45.34.84.24.8
4.44.34.54.75.2
5.65.65.05.14.8
4.04.14.34.7
4.7
5.6
5.5
4.65.45.35.45.7
4.84.73.54.14.6
3.83.74.96.05.0
4.0
5.75.24.94.1
4.25.04.22.6
2.83.32.7
Durablegoods
industries
6.77.16.4
7.75.34.54.24.6
5.75.24.83.94.8
4.03.94.44.55.1
5.75.64.84.94.6
3.53.84.24.7
4.5
5.0
4.7
4.15.25.35.55.2
4.04.22.43.14.4
3.42.94.55.24.1
3.0
4.84.74.22.7
3.64.42.81.2
.52.2.5
Nondurablegoods
industries
6.76.85.4
6.54.54.14.34.4
5.15.34.94.44.9
4.84.74.74.95.4
5.55.65.35.25.0
4.54.54.44.8
5.0
6.1
6.4
5.15.55.35.36.15.65.14.44.94.8
4.14.65.26.75.8
4.9
6.65.65.65.5
4.75.55.53.8
4.94.34.6
1 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity at end ofquarter only.
Note—Based on data in millions of dollars.See Note, Table B-88.Source: Department of Commerce, Bureau of the Census.
401Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-90.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1947-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year orquarter
194719481949
195019511952195319541955....1956....1957....1958....1959....
19601961196219631964....1965....1966....1967....1968....1969....
1970197119721973197419751976197719781979
1980198119821983198419851986198719881989
1990
1989:IIIIllIV
1990:Iii"""."inIV
1991:1IIIll
Sources
Total
27.529.520.5
42.636.930.228.629.853.445.143.542.257.2
48.956.461.169.775.293.799.996.1
114.9117.4
102.9128.9155.2217.0180.5155.6211.2256.5313.5324.4
320.6375.4313.7431.2491.4464.3521.5545.0586.7548.4
466.7
538.3629.4473.2553.0
525.3518.2443.7379.5
474.7465.3469.9
Internal
Total
13.319.720.0
18.520.822.522.324.429.930.132.030.737.0
36.537.544.047.853.060.164.365.366.766.5
64.076.188.195.591.0
125.0140.5162.7183.7198.5
199.7238.9247.6292.3336.4351.9336.8376.1404.4405.0
381.5
401.4404.3410.5403.7
393.8395.2361.2375.9
390.5390.3386.7
U.S.undis-
tributedprofits
12.714.09.6
14.110.88.99.29.0
13.412.711.58.3
13.0
10.610.213.014.518.423.425.022.221.318.4
12.618.724.636.945.343.456.566.978.786.4
69.264.230.630.546.421.7
-2.141.373.648.5
24.6
54.851.742.445.2
27.831.731.07.8
.23.77.3
Inven-
valuationand
capitalcon-
sumptionadjust-ments
-8.7-5.2-1.0
-7.9-4.4-2.0-3.3-1.9-2.0-3.7-2.7-1.5-1.0
-.4.6
3.24.04.04.03.54.21.9.4
-1.1.0
-1.6-15.2-38.8-18.6-26.1-27.0-37.8-58.0
-61.4-44.8-22.4
2.924.154.453.430.615.77.0
-10.8
-5.212.718.22.5
4.89.9
-32.7-25.2
-1.82.4
-7.8
Capitalcon-
sumptionallow-ances
9.010.411.2
12.013.814.815.916.817.820.022.023.024.1
25.125.826.827.929.331.334.137.341.145.0
49.454.260.565.676.892.2
102.5114.8131.1151.6
173.3205.3227.6240.2246.2256.1269.3279.3295.2313.9
324.5
305.9309.6317.6322.5
319.2322.2326.7329.9
334.6337.2338.3
Foreignearn-ings *
0.3.4.3
.3
.6
.8
.7
.5
.81.01.2.8.9
1.21.01.11.41.31.41.71.62.32.8
3.23.24.78.17.78.17.68.1
11.718.6
18.714.211.818.819.719.816.224.819.935.5
43.2
45.930.332.333.5
41.931.436.163.4
57.447.048.9
External
Total
14.19.9
.4
24.016.27.86.25.4
23.415.111.511.620.2
12.418.917.121.922.233.635.630.748.250.9
38.952.867.1
121.589.430.670.793.8
129.8125.9
120.8136.566.1
138.9155.0112.3184.7168.9182.3143.5
85.2
136.9225.0
62.7149.3
131.5122.982.63.6
84.375.083.2
Credit market funds
Total
8.47.43.0
8.110.99.25.86.3
10.312.612.010.412.2
11.312.012.612.314.218.924.627.427.532.5
34.137.542.576.554.623.050.969.671.060.1
68.490.450.781.092.552.4
126.763.063.042.1
12.5
-6.3129.2
6.638.9
37.249.8
-1.7-35.1
6.742.859.0
Securi-tiesand
mort-gages
5.46.74.9
4.26.48.16.26.76.67.4
10.110.58.3
7.410.58.78.58.27.0
14.219.214.914.6
26.232.926.544.621.239.342.644.837.88.8
27.823.2
-4.045.5
-13.0-4.560.927.5
-13.0-41.8
-17.4
-101.8-.6
-85.520.7
-30.48.4
-48.8.9
57.6102.994.9
Loansand
short-termpaper
3.0.7
-1.9
3.94.41.1
-.4-.53.75.31.9-.14.0
3.91.53.93.86.0
11.910.48.2
12.617.8
7.84.6
16.031.933.5
-16.38.3
24.833.251.3
40.667.254.735.5
105.556.965.835.476.083.9
30.0
95.5129.892.118.2
67.641.347.0
-36.0
-50.8-60.1-35,9
Other2
5.72.5
-2.6
16.05.3
-1.4.4
-.913.22.4-.51.28.0
1.06.94.59.68.1
14.711.03.4
20.718.4
4.915.324.645.034.87.7
19.924.258.865.8
52.546.015.457.962.559.958.0
106.0119.3101.4
72.6
143.295.856.0
110.5
94.373.284.338.6
77.532.224.2
Uses
Total
20.425.613.1
40.437.930.028.228.048.841.039.838.451.7
41.351.054.860.564.982.990.888.4
107.6116.7
100.3124.7149.7194.9194.9158.1212.6250.0331.9374.6
352.6407.9333.1425.9504.3459.2504.7478.3563.5529.2
484.7
509.3567.3489.1551.3
505.6516.4522.0394.7
445.2440.2482.0
Capitalexpendi-tures s
12.120.79.6
24.030.525.525.923.132.337.135.527.637.5
37.436.742.444.850.161.174.071.976.885.0
81.588.099.6
124.2142.4117.0159.1187.4224.2244.8
254.2310.9286.1303.8399.1375.3353.9365.8394.5421.4
403.1
420.7419.2416.4429.1
402.4415.9418.1376.2
354.8359.5389.8
ncreasein
financialassets
8.45.03.5
16.47.44.62.34.9
16.54.04.2
10.814.2
3.914.212.515.714.921.816.716.430.831.7
18.736.750.170.752.541.153.562.6
107.7129.8
98.497.047.0
122.1105.283.9
150.8112.5169.0107.9
81.6
88.6148.072.7
122.2
103.3100.5103.918.6
90.480.792.2
Discrep-ancy
(sourcesless
uses)
7.03.97.4
2.2-1.0
.2
.41.84.64.13.83.85.5
7.55.46.29.3
10.310.89.17.77.2
.6
2.64.25.5
22.1-14.4-2.5-1.4
6.5-18.4-50.2
-32.1-32.6-19.5
5.3-12.9
5.116.866.723.219.2
-18.0
29.062.1
-15.91.7
19.61.8
-78.3-15.2
29.525.1
-12.2
1 Foreign branch profits, dividends, and subsidiaries' earnings retained abroad.2 Consists of tax liabilities, trade debt, and direct foreign investment in the United States.3 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.
Source: Board of Governors of the Federal Reserve System.
402Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-91.—Common stock prices and yields, 1952-91
Year or month
19521953.195419551956195719581959I960196119621963196419651966...19671968196919701971 .197219731974.. .197519761977197819791980198119821983198419851986198719881989199019911990- Jan
Feb ... .MarAprMayJuneJulyAugSeptOctNovDec
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec
Common stock prices *
New York Stock Exchange indexes (Dec. 31, 1965
Composite
1381136716.1921.5424402367245630733001353733493751437647.3946.1550.7755.3754.6745.7254.2260.2957.4243.8445.7354.4653.6953.7058.3268.1074.0268.9392.6392.46108.09136.00161.70149.91180.02183.46206.33187.96182.55186.26185.61191.35196.68196.61181.45173.22168.05172.21179.57177.95197.75203.57207.71206.93207.32208.29213.33212.55213.10213.25214.26
Industrial
46.1851.9758.0057.4448.0357.9265.7363.0848.0850.5260.4457.8658.2364.7678.7085.4478.18107.45108.01123.79155.85195.31180.95216.23225.78258.14225.79220.60226.14226.86234.85242.42245.86226.73216.81208.58212.81221.88220.69246.74255.36260.15260.13261.16262.48268.22266.21265.68264.89266.01
Transpor-tation
50.2653.5150.5846.9632.1444.3550.1737.7431.8931.1039.5741.0943.5047.3460.6172.6160.4189.3685.63104.11119.87140.39134.12175.28158.62173.99173.67166.58175.08173.55173.53177.37173.18147.41136.95131.90132.96141.31145.89166.06166.26166.90170.77177.05177.15178.52177.99187.31188.52185.47
Utility
45.4145.4344.1942.8037.2439.5338.4837.6929.7931.5036.9740.9239.2238.2037.3538.9139.7547.0046.4456.7571.3674.3071.7787.4390.6092.6695.6992.1593.0091.9293.2993.6589.8585.8183.3087.2789.6991.5688.5992.0892.2992.9290.7689.0190.0592.3893.7295.2596.7898.08
— 50) z
Finance
44.4549.8265.8570.4960.0070.3878.3570.1249.6747.1452.9455.2556.6561.4264.2573.5271.9995.3489.28114.21147.20146.48127.26151.88133.26150.82150.11142.68143.13138.57142.94147.93143.11128.14118.59108.01113.76122.18121.39141.03145.42152.64151.32152.31151.60157.70157.69158.94159.78159.96
DowJones
industrialaverage 3
270.76275.97333.94442.72493.01475.71491.66632.12618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72753.19884.76950.71923.88759.37802.49974.92894.63820.23844.40891.41932.92884.36
1,190.341,178.481,328.231,792.762,275.992,060.822,508.912,678.942,929.332,679.242,614.182,700.132,708.262,793.812,894.822,934.232,681.892,550.692,460.542,518.562,610.922,587.602,863.042,920.112,925.542,928.422,968.142,978.193,006.093,010.353,019.742,986.122,958.64
Standard& Poor'scomposite
index(1941-
43 = 10)*
24.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29109.20107.4382.8586.16102.0198.2096.02103.01118.78128.05119.71160.41160.46186.84236.34286.83265.79322.84334.59376.18339.97330.45338.47338.18350.25360.39360.03330.75315.41307.12315.29328.75325.49362.26372.28379.68377.99378.29380.23389.40387.20386.88385.92388.51
Common stock yields(percent) 5
Dividend-priceratio6
5.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.833.142.843.064.474.313.774.625.285.475.265.205.814.404.644.253.493.083.643.453.613.243.413.543.493.513.443.363.373.653.854.013.913.743.823.353.263.193.233.233.203.103.153.143.153.11
Earnings-priceratio7
9.4710.268.577.957.557.896.235.785.904.625.825.505.325.596.635.735.676.086.455.415.507.1211.599.158.9010.7912.0313.4612.6611.9611.608.0310.028.126.095.488.017.416.47
6.37
£94
7"ib
6.46
5.58
5.23
4.60
1 Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.2 Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.* Includes 500 stocks.5 Standard & Poor's series, based on 500 stocks in the composite index."Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing
prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.7 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of that
quarter. Annual data are averages of quarterly ratios.Note.—All data relate to stocks listed on the New York Stock Exchange.Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's Corporation.
403Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-92.—Business formation and business failures, 1950-91
Year or month
1950195119521953..195419551956195719581959196019611962196319641965196619671968196919701971197219731974...1975197619771978197919801981.19821983198419851986. .19871988... .198919901991 »
1990: JanFebMarAprMay IJuneJulyAugsept':..::.::::::.:OctNovDec
1991: JanFebMarAprMayJuneJulyAugSeptOctNovDec "
Indexof net
businessformation(1967=
100)
87.786.790.889.788.896.694.690.390.297.994.590.892.694.498.299.899.3
100.0108.3115.8108.8111.1119.3119.1113.2109.9120.4130.8138.1138.3129.9124.8116.4117.5121.3120.9120.4121.2124.1124.8120.7
Newbusinessincorpo-rations
(number)
93,09283,77892,946
102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267264,209287,577316,601329,358319,149326,345375,766436,170478,019524,565533,520581,242566,942600,400634,991662,047702,738685,572685,095676,565646,107
Seasonally adjusted
125.9125.1124.7123.3121.6121.1120.0119.7118.6117.2116.1115.2115.5114.9114.2115.0115.7116.1115.5115.9115.2113.2113.3
58,81356,05856,17255,00053,61653,78452,14252,95852,17651,89951,42952,06051,99150,38451,53652,23552,32752,07152,80353,31552,234
Business failures *
Businessfailurerate2
34.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.343.841.738.336.438.442.634.828.423.927.842.161.389.0
110.0107.0115.0120.0102.098.065.075.098.0
Number of failures
Total
9,1628,0587,6118,862
11,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,3649,6369,154
10,74810,3269,5669,3459,915
11,4329,6287,9196,6197,564
11,74216,79424,90831,33452,07857,25361,61661,11157,09750,36160,50887,592
4,6444,1654,7684,7095,1285,2554,7565,6374,8656,0795,3545,1486,7926,9807,4337,5687,8036,9567,6607,4236,8358,4867,0876,569
Liability size class
Under$100,000
8,7467,6267,0818,075
10,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,6117,0406,6276,7337,5046,1764,8613,7123,9305,6828,233
11,50915,50919,61836,53938,90838,94938,30033,31240,53060,306
3,0382,7573,1103,0863,4693,4733,2613,8263,3314,1093,6123,4584,5224,5865,0125,1675,3914,8705,2795,2204,7866,0224,9114,540
$100,000and over
416432530787860856
1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,7152,5262,7183,1823,9283,4523,0582,9073,6346,0608,561
13,39915,82532,46020,71422,70822,16218,79717,04919,97827,286
1,6061,4081,6581,6231,6591,7821,4951,8111,5341,9701,7421,6902,2702,3942,4212,4012,4122,0862,3812,2032,0492,4642,1762,029
Amount of current liabilities(millions of dollars)
Total
248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6
1,090.11,213.61,352.61,329.21,321.71,385.71,265.2
941.01,142.11,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.02,667.44,635.16,955.2
15,610.816,072.929,268.636,937.444,724.034,723.839,573.042,328.859,836.5
110,934.0
6,167.97,247.43,579.76,365.24,688.16,911.82,143.75,973.94,017.24,473.03,591.94,676.5
12,555.717,763.87,928.88,280.3
11,805.715,816.76,184.53,187.55,952.2
10,337.74,568.96,552.2
Liability size class
Under$100,000
151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3258.8235.6256.9298.6257.8208.3164.7179.9272.5405.8541.7635.1409.8423.9838.3746.0686.9670.5730.0940.7
56.950.257.558.961.961.356.266.356.473.970.360.174.875.179.280.986.980.986.973.768.587.374.871.7
$100,000and over
97.1128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1
1,031.61,015.61,000.01,064.1
967.3699.9910.8
1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.32,487.54,362.66,549.3
15,069.115,437.828,858.836,513.543,885.733,977.838,886.141,658.259,106.5
109,993.3
6,111.17,197.23,522.16,306.34,626.26,850.52,087.55,907.63,960.84,399.03,521.54,616.4
12,480.917,688.77,849.68,199.4
11,718.815,735.86,097.63,113.85,883.7
10,250.44,494.16,480.5
1 Commercial and industrial failures only through 1983, excluding failures of banks, railroads, real estate, insurance, holding, andfinancial companies, steamship lines, travel agencies, etc.
Data beginning 1984 are based on expanded coverage and new methodology and are therefore not generally comparable with earlierdata. Data for 1990 and 1991 are subject to revision due to amended court filings.2 Failure rate per 10,000 listed enterprises.
Sources: Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation.
404Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
AGRICULTURE
TABLE B-93.—Farm income, 1940-91
[Billions of dollars; quarterly data at seasonally adjusted annual rates]
Year or quarter
194019411942194319441945194619471948 ..1949
19501951195219531954 .. .19551956 .195719581959
19601961196219631964.19651966196719681969
197019711972 .. .1973197419751976197719781979
198019811982 _1983198419851986198719881989
1990
1989:1I I .IllIV.
1990:1 .IIIllIV
1991:1II..Ill P
Income of farm operators from farming
Gross farm income
Total1
11.314.319.923.324.025.429.632.436.530.8
33.138.337.834.434.233.534.034.839.037.9
38.640.542.343.442.346.550.550.551.856.4
58.862.171.198.998.2
100.6102.9108.8128.4150.7
149.3166.3164.1153.9168.0161.2156.1168.4174.5190.3
195.1
191.7190.4186.8192.4
199.7191.4188.0201.4
186.9197.6186.7
Cash marketing receipts
Total
8.411.115.619.620.521.724.829.630.227.8
28.532.932.531.029.829.530.429.733.533.6
34.035.236.537.537.339.443.442.844.248.2
50.552.761.186.992.488.995.496.2
112.4131.5
139.7141.6142.6136.8142.8144.1135.3141.8151.1160.9
170.0
155.4159.1165.6163.4
166.0166.8173.7173.4
162.4173.7172.2
Livestockand
products
4.96.59.0
11.511.412.013.816.517.115.4
16.119.618.216.916.316.016.417.419.218.9
19.019.520.220.019.921.925.024.425.528.6
29.530.535.645.841.343.146.347.659.269.2
68.069.270.369.672.969.871.676.079.484.1
89.6
82.081.284.089.3
89.487.990.790.3
86.583.985.9
Crops
3.54.66.58.19.29.7
11.013.113.112.4
12.413.214.314.113.613.514.012.314.214.7
15.015.716.317.417.417.518.418.418.719.6
21.022.325.541.151.145.849.048.653.262.3
71.772.572.367.269.974.363.765.871.676.8
80.4
73.477.981.674.1
76.678.983.083.1
75.989.886.3
Value ofinventorychanges2
0.3.4
1.114
-.4.0
-1.81.7
9
.81.2.9.6
'.2__ 5
!e.8.0
.4
.3
.6
.68
1.0
.7
.1
.1
.01.4.9
3.4163.4
-1.51.11.95.0
636.514
-10.96.023
-2.2-2.3-3.5
4.3
2.9
3.44.54.64.6
4.63.52.31.4
1.1.6
Produc-tion
expenses
6.97.8
10.011.612.313.114.517.018.818.0
19.522.322.821.521.822.222.723.725.827.2
27.428.630.331.631.833.636.538.239.542.1
44.547.151.764.671.075.082.788.9
103.3123.3
133.1139.4140.3139.6141.9132.4125.1128.7133.9140.2
144.3
140.6141.3140.9138.1
142.0143.4143.8148.0
147.4148.4144.8
Net farm income
Currentdollars
4.56.59.9
11.711.712.315.115.417.712.8
13.615.915.013.012.411.311.311.113.210.7
11.212.012.111.810.512.914.012.312.314.3
14.415.019.534.427.325.520.219.925.227.4
16.126.923.814.226.128.831.039.740.650.1
50.8
51.149.145.954.3
57.748.044.253.4
39.449.241.9
1987dollars3
4L9
43.145.545.043.337.945.447.540.738.942.9
40.940.650.183.260.751.938.635.641.841.9
22.534.128.416.328.730.532.039.739.146.2
45.0
47.845.542.149.4
51.942.738.946.6
34.142.135.8
aCash marketing receipts and inventory changes plus Government payments, other farm cash income, and nonmoney incomefurnished by farms.
2 Physical changes in end-of-period inventory of crop and livestock commodities valued at average prices during the period.3Income in current dollars divided by the GDP implicit price deflator (Department of Commerce); the deflator is not yet available
prior to 1959.Note—Data include net Commodity Credit Corporation loans and operator households.Source: Department of Agriculture, except as noted.
405Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-94.—Farm output and productivity indexes, 1947-91
[1977=100]
Year
194719481949 .
19501951195219531954
1955195619571958.1959
I9601961196219631964
19651966196719681969
19701971197219731974
19751976197719781979
19801981198219831984
1985..1986198719881989
19901991 p
Farm output
Total1
586362
6163666666
6969677374
7676778079
8279838585
8492919388
9597100104111
10411811696112
118111110102114
119120
Crops2
Total3
566461
5960626261
6363626968
7270717472
7673777980
7786879284
9392100102113
10111711788111
11810910892107
114111
Feedgrains
395750
5147504951
5454586466
6962626859
7070797578
7192889174
9196100108116
9712112267116
13412310673108
112107
Foodgrains
646253
4949635751
4850476955
6660565965
6767768074
6981778691
10810710093108
121144138117129
12110710798107
136105
Oilcrops
222726
2626262628
3034333936
3843444646
5355566465
6668748771
8674100105129
9911412191106
11711010889106
107113
Live-stockandprod-ucts2
656467
7073747477
7979787983
8286868991
8991949495
99100101.99100
9599100101104
108109107109107
110110113116116
118119
Productivity indicators
Farm output
Perunit oftotalinput
556057
5860626465
6667677473
7678788281
8483858788
8795949590
9998100101105
101116119100118
129124124116130
135
Perhour offarmwork4
182120
2224262829
3031333939
4244465152
5659646872
7485838681
9097100104113
109123125100121
139139142135147
142
Cropproduc-tionper
acre5
576460
5959626261
6364657372
7778818381
8583868991
8896999988
9694100105113
100115116100112
120116123106119
127
1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.
2 Gross production.3 Includes items not included in groups shown.4 Survey-based labor productivity time series; not comparable with data published in the issues of the Economic Report of the President
prior to January 1989.8 Computed from variable weights for individual crops produced each year.Source: Department of Agriculture.
406Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-95.—Farm input use, selected inputs, 1947-90
Year
194719481949
19501951195219531954
19551956195719581959
1960 ..1961196219631964
19651966196719681969....
1970197119721973....1974
19751976197719781979
1980.1981198219831984
19851986198719881989
1990
Farm population,April'
Num-ber
(thou-sands)
25,82924,38324,194
23,04821,89021,74819,87419,019
19,07818,71217,65617,12816,592
15,63514,80314,31313,36712,954
12,36311,59510,87510,45410,307
9,7129,4259,6109,4729,264
8,8648,253
7 6,1947 6,5017 6,2417 6,0517 5,8507 5,6287 5,7875,754
5,3555,2264,9864,9514,801
4,591
Aspercent
oftotal
popula-tion2
17.916.616.2
15.214.213.912.511.7
11.511.110.39.89.3
8.78.17.77.16.7
6.45.95.55.25.1
4.74.54.64.54.3
4.13.8
7 2.87 2.97 2.87 2.77 2.57 2.47 2.52.4
2.22.22.12.01.9
1.8
Farm employment(thousands) 3
Total
10,38210,3639,964
9,9269,5469,1498,8648,651
8,3817,8527,6007,5037,342
7,0576,9196,7006,5186,110
5,6105,2144,9034,7494,596
4,5234,4364,3734,3374,389
4,3424,3744,1553,9573,774
3,7058 3,5528 3,4008 3,2478 3,094
2,9412,7492,7342,7892,873
2,869
Familywork-ers
8,1158,0267,712
7,5977,3107,0056,7756,570
6,3455,9005,6605,5215,390
5,1725,0294,8734,7384,506
4,1283,8543,6503,5353,419
3,3483,2753,2283,1693,075
3,0262,9972,8592,6892,501
2,4028 2,2678 2,1368 2,0078 1,976
1,9041,7681,7431,8101,926
1,965
Hiredwork-ers
2,2672,3372,252
2,3292,2362,1442,0892,081
2,0361,9521,9401,9821,952
1,8851,8901,8271,7801,604
1,4821,3601,2531,2131,176
1,1751,1611,1461,1681,314
1,3171,3771,2961,2681,273
1,3038 1,2859 1,2648 1,2408 1,118
1,037981992979947
904
Cropshar-
vested(mil-
lions ofacres) 4
355356360
345344349348346
340324324324324
324302295298298
298294306300290
293305294321328
336337345338348
352366362306348
342325302297318
322
Selected indexesof input use (1977 = 100)
Total
104104108
106106105103102
10410310098101
9998989898
9796989796
9697979898
9798100102105
103102989695
9189898787
88
Farmlabor
297285285
265251237220214
220212196182183
177167163155148
144132128124118
112108110109109
10610010010099
9696939792
8580787576
80
Farmreal
estate
106107108
109109108108108
108106105104105
103103104104104
103102104102102
10510310210099
9798100100103
10310410210199
9796959493
93
Me-chanicalpowerand
machin-ery
546268
7277818282
8384838384
8380807980
8082858686
8587869092
9698100104104
10198898685
8077747473
71
Agri-culturalchemi-cals5
151618
1921232424
2627272832
3235384346
4956666973
7581869092
8396100107123
123129118102120
115109111112119
122
Feed,seed,andlive-stockpur-
chases6
515256
5862636365
6669687377
7781838385
8689928993
9610210410799
93101100108115
114108107103103
102109116111113
113
^arm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms inrural areas, regardless of occupation. See also footnote 7.
2 Total population of United States including Armed Forces overseas, as of July 1.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those on
agricultural employment by the Department of Labor (see Table B-30) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected.
4 Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.8 Fertilizer, lime, and pesticides.•Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm. Under old definition of a farm, farm population (in thousands and as percent of total
population) for 1977, 1978, 1979, 1980, 1981, 1982, and 1983 is 7,806 and 3.6; 8,005 and 3.6; 7,553 and 3.4; 7,241 and 3.2; 7,014and 3.1; 6,880 and 3.0; 7,029 and 3.0, respectively.
8 Basis for farm employment series was discontinued for 1981 through 1984. Employment is estimated for these years.Note.—Population includes Alaska and Hawaii beginning 1960.Sources: Department of Agriculture and Department of Commerce (Bureau of the Census).
407Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-96.—Indexes of prices received and prices paid by farmers, 1950-91
[1977=100]
Year or month
1950195119521953195419551956195719581959196019611962 .19631964196519661967196819691970....19711972197319741975197619771978197919801981198219831984 *19851986198719881989.199019911990- Jan
FebMarAprMay 'JuneJulyAugsept...: ::::...:.::::.::::::OctNovDec
1991: JanFebMarAprHayJuneJulyAugsept:::::.:::::""::::: :::OctNovDec
Prices received by farmers
Allfarmprod-ucts
566663
- 565451505155535253535352545855565960626998105101102100115132134139133135142128123127138148149146152151150151153152151149147146145142144144148148151153149146147142139137
Crops
546162555653545252515152545555535552525052566091117105102100105116125134121128138120107106126134127130132131128130132129128123121121123121121122127130137142136133137126124120
Live-stockandprod-ucts
58706456524947515753535253514954605760676767771049498101100124147144143145141146136138146150160170162171169171170173173172174171170166163166166169166165163162158157158154154
Prices paid by farmers
Allcommod-
ities,services,interest,taxes,andwagerates 1
374142404040404243434444454545474949515355586271818995100108123138150159161164162159162170178184189181
183
184
187
188
189
189
189
Production items
Total2
424747444443434446464646474747485050505254576173839197100108125138148153152155151144148157165171173169
170
170
i'74
173
175
173
172
Tractorsandself-pro-pelledmachin-
ery
39"4042444749515458688291100109122136152165174181178174174181193202211199
201
201
208
208
210
210
216
Fertil-izer
54575959595857585857575858575757565552484850525692120102100100108134144144137143135124118130137131134131
130
130
132
132
136
136
132
Fuelsand
energy
49"4950505152535457798893100105137188213210202201201162164167180204203201
188
187
239
219
198
196
200
Wagerates
222526272727282930323333343536384144485357596369798593100107117127138144148151154159166171185191201192
193
192
185
202
203
203
193
Adden-dum:Aver-agefarmreal
estatevalueper
acre3
141618181819192122232425262729313335384042434753667586100109125145158157148146128112103106111112115112
115
1 Includes items used for family living, not shown separately.2 Includes other items not shown separately.3 Average for 48 States. Annual data are for March 1 of each year through 1975, February 1 for 1976-81, April
February 1 for 1986-89, and January 1 for 1990 and 1991.Source: Department of Agriculture.
for 1982-85,
408Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-97.—U.S. exports and imports of agricultural commodities, 1940-91
[Billions of dollars]
Year
19401941194219431944
19451946...194719481949
1950 .1951195219531954
19551956195719581959
1960 .1961196219631964
19651966...196719681969
19701971197219731974
1975197619771978...1979
19801981198219831984
198519861987..19881989
1990
Jan-Nov:19901991
Total1
05.7
L22.12.1
2.33.14.03.536
2.94.03.42.83.1
3.242453.940
485.050566.3
6.2696.4636.0
737.794
17721.9
21923.0236294347
412433366361378
29.026228737.139.9
39.3
36235.3
Feedgrains
4
4
4
4
4
(*)n i.13
2
3
.2
.34356
5
889
1.1131.1
9.9
1 11.0153546
5260495977
9894647381
6031385.977
70
6653
Foodgrains2
(*)0.1(4)\1.1
.4
.71.41.51 1
61.11.1
.5
.61.010.89
121.413151.7
1.4181.5141.2
141.3184754
6247365563
7996797475
4538385.971
48
4538
Exports
Oil-seedsand
prod-ucts
(4
44
h.1
(4
(4
.2
.3
.2
.3
.2
.2
.3
.4
.55.46
6.67.8
1.0
1.2121.3131.3
192.224435.7
4551668289
9496918784
5865647.763
57
5255
Cot-ton
0.2.1.1.2
.3
.5
.5
.9
1.01.1.9
.8
.5
.710.74
10.9567
.54.553
4659
13
1010151722
2923201824
168
162023
28
2522
To-bacco
(4)
01
.2
.2
.4
.3
.3
.3
.3
.3
.4
.34.43
4.444.4
.45.55.6
5.5778
99
1 11412
1315151515
15121 11.313
14
121.3
Ani-malsand
prod-ucts
0.1.3.8
1.21.3
.9
.9
.7
.4
.3
.5
.4
.5
.6
.77.5.6
.6
.6
.67.8
.87.77.8
91.011161.8
172.4273038
3842393842
4145526.464
67
6263
Total1
1.31.71.31.51.8
1.72.32.83.12.9
4.05.24.54.24.0
4.04.04.03.94.1
3.83.73.9404.1
4.1454.5505.0
585.86.584
10.2
9311.0134148167
17416815416.6193
20.021520421.021.7
22.8
21020.8
1
Crops,fruits,
andvege-
tables3
(4)
0.1(4)
.1
.1
.1
.2
.2
.2
.2
.2
.2
.2
.2
.2
.2
.23.3
.3
.4
.4
.5
.5
5.6.78.8
8.9
121517
1620232.331
3.536363.84.2
4.9
454.3
mports
Ani-malsand
prod-ucts
0.2
.5
.3
.4
.4
.4
.6
.71.1.7.6.5
.5
.5
.7
.8
.6
.7
.9
.9
.8
.91.21.11.31.4
1.61.51.82.62.2
182.3233139
3.835373.84.1
4.24.5495.25.1
5.6
525.1
Cof-fee
0.1.2.2.3.3
.3
.5
.6
.7
.8
1.11.41.41.51.5
1.41.41.41.21.1
1.01.01.01.01.2
1.11.11.01.2.9
1.21.21.31.71.6
172.9424.042
4.229292.83.3
3.34.6292.52.4
1.9
1.81.7
Cocoabeansand
prod-ucts
))(
i(4)01
.2
.1
.2
.2
.3
.2
.2
.2
.2
.2
.2
.2
.2
.2
.1
.1
.2
.2
.2
.3
.2
.2
.5
.5
.61.01.41.2
.9
.97.8
1.1
1.41.11.21.01.0
1.1
1.01.0
Agri-culturaltrade
balance
-0.8-1.0-.1
.6
.3
.5
.81.2.3.7
-1.1. -1.1
-1.1-1.3-.9
-.8.2.6
(4).1
1.01.31.21.62.3
2.12.41.91.31.1
1.51.92.99.3
11.7
12.612.010.214.618.0
23.926.621.219.518.5
9.14.78.3
16.118.2
16.5
15.214.5
'Total includes items not shown separately.2 Rice, wheat, and wheat flour."Includes nuts, fruits, and vegetable preparations.Hess than $50 million.Note.—Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural commodities
are defined as (1) nonmarine food products and (2) other products of agriculture which have not passed through complex processes ofmanufacture. Export value, at U.S. port of exportation, is based on the selling price and includes inland freight, insurance, and othercharges to the port. Import value, defined generally as the market value in the foreign country, excludes import duties, ocean freight,and marine insurance.
Source: Department of Agriculture.
409Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-98.—Balance sheet of the farm sector, 1939-91
[Billions of dollars]
End of year
1939
1940194119421943194419451946194719481949
1950195119521953195419551956195719581959
1960.196119621963196419651966196719681969
1970. .1971197219731974 7
1975197619771978..1979
1980. . .198119821983..198419851986.198719881989.
19901991" .
Assets
Totalassets
52.6
53.761.472.982.992.1
102.4116.4127.4133.2130.7
153.3170.1166.8162.8167.5173.0182.2191.5207.0210.8
210.0217.8225.7233.9242.1259.9273.2287.1300.4311.5
324.3350.1393.0477.8513.2579.4667.8735.2862.1
1,001.6
1,089.21,089.41,056.81,064.3
975.9892.8848.0911.4956.8976.0
996.21,010.0
Physical assets
Realestate
33.6
34.036.641.547.752.960.568.773.576.075.1
88.998.7
100.098.9
102.5108.2116.1122.7131.5138.4
139.7145.8151.5159.7168.7180.8190.7201.4211.0217.1
224.5240.9268.7329.2369.5421.0499.8556.5656.0767.8
850.1851.7819.1829.3735.0657.0613.0658.6687.0692.7
702.6713.0
Nonreal estate
Live-stockand
poul-try *
5.1
5.37.19.69.79.09.7
11.913.314.412.9
17.119.514.811.711.210.611.013.917.715.2
15.616.417.315.914.417.619.018.820.222.5
23.727.333.742.424.629.429.031.950.161.4
60.653.553.049.549.546.347.858.062.266.2
69.166.0
Machin-ery andmotor
vehicles
3.1
3.34.04.95.46.55.45.37.4
10.112.2
14.116.717.418.418.719.320.220.121.822.7
22.222.523.523.924.826.027.429.831.332.3
34.436.739.344.253.663.170.176.476.482.9
86.992.592.692.19bi88.386.184.586.790.2
91.793.0
Crops 2
2.2
2.33.24.35.56.06.07.08.97.45.9
7.18.27.96.87.56.56.86.46.96.6
6.26.36.47.26.87.77.87.77.28.1
8.59.7
12.721.122.420.520.620.623.930.0
32.830.026.424.426.322.916.617.822.723.3
22.423.0
Pur-chased
in-puts s
2.01.22.13.03.32.7
2.83.0
House-hold
equip-mentand
furnish-ings
4.2
4.14.84.84.75.25.67.28.18.98.4
9.610.09.69.59.7
10.09.69.69.49.2
8.78.98.88.88.48.48.38.89.49.6
10.010.811.912.314.014.215.217.220.021.5
19.420.823.024.424.327.828.732.937.042.2
46.349.0
Financial assets
Invest-ments incooper-atives
0.8
.9
.91.01.11.21.71.92.02.22.4
2.72.93.23.33.53.74.04.24.54.8
4.24.54.65.05.25.45.75.86.16.4
7.27.98.79.7
11.213.014.313.516.118.1
19.320.621.922.824.324.324.425.325.126.1
27.729.0
Other *
3.5
3.94.76.58.8
11.313.514.414.314.213.8
13.814.114.114.214.414.614.414.615.113.8
13.313.313.613.513.814.114.214.715.215.6
16.016.818.019.017.818.418.719.019.719.9
20.020.320.921.823.425.029.431.432.932.5
33.534.0
Claims
Totalclaims
52.6
53.761.472.982.992.1
102.4116.4127.4133.2130.7
153.3170.1166.8162.8167.5173.0182.2191.5207.0210.8
210.0217.8225.7233.9242.1259.9273.2287.1300.4311.5
324.3350.1393.0477.8513.2579.4667.8735.2862.1
1,001.6
1,089.21,089.41,056.81,064.3
975.9892.8848.0911.4956.8976.0
996.21,010.0
Realestatedebt5
6.6
6.56.46.05.44.94.84.95.15.35.6
6.16.77.37.88.39.09.9
10.411.112.1
12.914.015.216.918.921.223.125.227.529.4
30.532.435.439.844.949.955.463.972.886.8
97.5107.2111.3113.7112.3105.795.987.783.080.5
78.479.0
Non-real
estatedebt6
3.0
3.33.53.22.92.72.93.54.14.95.2
6.17.47.76.87.27.98.08.8
10.111.5
12.012.714.215.716.418.119.820.820.421.2
22.325.128.033.136.741.647.855.063.875.7
81.288.291.892.792.082.270.866.065.665.5
66.767.0
Propri-etors'equity
43.0
43.851.563.774.584.494.8
108.1118.3123.0119.9
141.1156.0151.9148.2152.0156.0164.4172.3185.8187.2
185.1191.1196.3201.4206.8220.6230.3241.1252.5261.0
271.5292.6329.7404.9431.5488.0564.6616.2725.5839.2
910.5894.0853.7857.9771.5704.9681.3757.7808.3830.0
851.1864.0
1 Excludes commercial broilers, and beginning 1959 horses and mules.2 Non-Commodity Credit Corporation (CCC) crops held on farms plus value above loan rate for crops held under CCC.3 Includes fertilizer, chemicals, fuels, parts, feed, seed, and other supplies.4 Sum of currency, demand deposits, time deposits, and U.S. savings bonds.5 Includes CCC storage and drying facilities loans.6 Does not include CCC crop loans.7 Beginning 1974, data are for farms included in the new farm definition, that is, places with sales of $1,000 or more annually.Note.—Data include operator households.Beginning 1959, data include Alaska and Hawaii.Source: Department of Agriculture.
410Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INTERNATIONAL STATISTICS
TABLE B-99.—International investment position of the United States at year-end, 1982-90
[Billions of dollars]
. Type ofinvestment
NET INTERNATIONAL INVESTMENT POSITION
OF THE UNITED STATES:
With direct investment at current cost...With direct investment at market value .
U.S. ASSETS ABROAD:With direct investment at current cost...With direct investment at market value .
U.S. official reserve assetsGold1
Special drawing rightsReserve position in the International
Monetary FundForeign currencies
U.S. Government assets other than officialreserves
U.S. credits and other long-term assets .Repayable in dollars . .Other
U.S. foreign currency holdings and U.S.short-term assets
U.S. private assets:With direct investment at current cost...With direct investment at market value .
Direct investment abroad:At current costAt market value
Foreign securitiesBondsCorporate stocks
U.S. claims on unaffiliated foreignersreported by U.S. nonbanking concerns....
U.S. claims reported by U.S. banks,not included elsewhere
FOREIGN ASSETS IN THE UNITED STATES:With direct investment at current cost...With direct investment at market value .
Foreign official assets in the United States ...U.S. Government securities
U.S. Treasury securitiesOther
Other U.S. Government liabilities... .U.S. liabilities reported by U.S. banks,
not included elsewhereOther foreign official assets
Other foreign assets in the United States:With direct investment at current cost...With direct investment at market value .
Direct investment in the United States:At current costAt market value
U.S. Treasury securitiesU.S. securities other than U.S. Treasury
securitiesCorporate and other bondsCorporate stocks
U.S. liabilities to unaffiliated foreignersreported by U.S. nonbanking concerns....
U.S. liabilities reported by U.S. banks,not included elsewhere
1982
364.0258.5
1,100.6954.9
143.4120.6
5.3
7.3102
74772.970919
1.8
882.5736.8
3740228375356718.6
28.6
4046
736.6696.4
189.1132.6124.9
77136
250179
547.5507.3
1732133.0258
93016.7763
27.5
2280
1983
285.0224.1
1,113.71,029.1
123.1100.5
5.0
11.363
79.677.876.018
1.8
910.9826.3
3579273383457525.9
35.1
4345
828.7804.9
194.5137.0129.7
73142
25517.7
634.2610.5
1813157.533.8
113817.5964
26.9
2783
1984
164.0111.0
1,104.61,022.3
105.08125.6
11.567
85082.981118
2.1
914.6832.2
35002676889619270
30.1
4456
940.7911.2
199.7144.7138.2
65150
26114.0
741.0711.5
2072177.7621
1285324961
31.0
3122
1985
64.364.5
1,173.91,174.8
117.98587.3
11.9129
87.885.884117
1.9
968.2969.1
379638051122729393
29.0
4474
1,109.51,110.3
202.5145.1138.4
6615.9
26714.9
907.0907.7
2272227.9880
207982.3
1256
29.5
3545
1986
-74.114.6
1,319.11,424.4
139.9102.4
8.4
11.7173
89.688.787.116
.9
1,089.61,194.9
41415194131781750.0
36.4
507.3
1,393.21,409.8
241.2178.9173.3
5618.0
27.916.4
1,152.01,168.6
26652832961
310914191689
26.9
4516
1987
-135.0-42.2
1,463.41,555.8
162.4127610.3
11.3131
88.687.686016
1.0
1,212.41,304.9
4852577.6146792054.7
31.1
549.5
1,598.41,598.1
283.0220.5213.7
6815.6
31.815.0
1,315.31,315.0
31603157826
346217051756
29.8
5407
1988
-306.0-150.6
1,533.71,707.5
144.2107.4
9.6
9.7174
85.684.983.415
.7
1,303.91,477.8
505.0678.8156894.062.7
34.2
608.0
1,839.71,858.1
321.9260.9253.0
8.015.1
31.514.4
1,517.81,536.2
3726391.01009
3956194.62010
35.0
6137
1989
-439.7-267.7
1,672.51,944.2
168.7105.210.0
9.044.6
84.283.782.21.5
.5
1,419.61,691.3
536.1807.7190.398.591.7
31.6
661.7
2,112.22,211.9
337.3265.7256.1
9.615.3
36.519.7
1,774.91,874.7
4337533.51345
4891228.52606
40.4
6771
1990
-412.2-360.6
1,764.11,880.1
174.7102.411.0
9.152.2
81.280.779.3
1.3
.5
1,508.21,624.2
598.1714.1222.3129.193.3
33.5
654.3
2,176.22,240.7
369.6296.0285.8
10.317.1
39.517.0
1,806.61,871.1
4659530.4134.4
475.1244.0231.2
44.1
687.0
1 Valued at market price.Note.—For details regarding these data, see Survey of Current Business, June 1991.Source: Department of Commerce, Bureau of Economic Analysis.
411Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-100.—U.S. international transactions, 1946-91
[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits (.+), debits (-)]
Year orquarter
19461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971197219731974.........19751976197719781979198019811982198319841985198619871988198919901989:
1...IIIllIV
1990:|IIIllIV
1991:I .IIIll '.
Merchandise12
Exports
11,76416,09713,26512,21310,20314,24313,44912,41212,92914,42417,55619,56216,41416,458
19,65020,10820,78122,27225,50126,46129,31030,66633,62636,414
42,46943,31949,38171,41098,306
107,088114,745120,816142,054184,473224,269237,085211,198201,820219,900215,935223,367250,266320,337361,451389,550
87,20791,60990,14292,493
95,24497,08896,638
100,580
100,900104,245104,532
Imports
-5,067-5,973-7,557-6,874
-9,081-11,176-10,838-10,975-10,353-11,527-12,803-13,291-12,952-15,310
-14,758-14,537-16,260-17,048-18,700-21,510-25,493-26,866-32,991-35,807
-39,866-45,579-55,797-70,499
-103,811-98,185
-124,228-151,907-176,001-212,009-249,750-265,063-247,642-268,900--332,422-338,083-368,425-409,766-447,323-477,368-497,665
-116,625-120,309-119,330-121,104
-122,781-121,178-125,398-128,308
-119,294-119,636-125,018
Net
6,69710,1245,7085,3391,1223,0672,6111,4372,5762,8974,7536,2713,4621,1484,8925,5714,5215,2246,8014,9513,8173,800
635607
2,603-2,260-6,416
911-5,505
8,903-9,483
-31,091-33,947-27,536-25,481-27,978-36,444-67,080
^112,522-122,148-145,058-159,500-126,986-115,917-108,115
-29,418-28,700-29,188-28,611
-27,537-24,090-28,760-27,728
-18,394-15,391-20,486
Services
Netmilitarytransac-tions8*
-424-358-351-410-56169528
1,753902
-113-221-423-849-831
-1,057-1,131
-912-742-794-487
-1,043-1,187
-596-718-641
6531,072
740165
1,461931
1,731857
-1,313-1,822
-844112
-163-2,147-4,096-4,907-3,662-5,743-6,204-7,220
-1715-1,634-1,161-1,693
-1,737-1,558-1,683-2,243
-2,329-1,484-1,168
Nettraveland
transpor-tation
receipts
733946374230
-12029883
-238-269-297-361-189-633-821-964-978
-1,152-1,309-1,146-1,280-1,331-1,750-1,548-1,763
-2,038-2,345-3,063-3,158-3,184-2,812-2,558-3.565-3,573-2,935
-997144
-992-4,227-9,153
-10,788-8,939-8,006-3,844
2,6214,140
261443652
1,265
941834479
1,885
2,0562,5212,607
ftthuruUIciservices,
net
310145175208242254309307305299447482486573639732912
1,0361,1611,4801,4971,7421,7591,9642,3302,6492,9653,4064,2314.8545,0275.6806,8797,2518,912
12,55212,98113,85914,04214,00818,55118,01219,92525,99829,456
59406,3746,7726,911
6,6957,3227,6077,832
7,3457,9098,023
Investment income
Receiptson U.S.assetsabroad
7721,1021,9211,8312,0682,6332,7512,7362,9293,4063,8374,1803,7904,1324,6164,9995,6186,1576,8247,4377,5288,0219,367
10,91311,74812,70714,76521,80827,58725,35129,28632,17841,82463,09671,38884,97585,34681,97292,93582,28280,98290,536
110,669128,651130,091
30,97432,30032,21733,159
31,95931,31432,01234,805
32,72928,28728,805
Paymentson foreignassets in
U.S.8
-212-245-^437-476-559-583-555-624-582-676-735-796-825
-1,061
-1,238-1,245-1,324-1,560-1,783-2,088-2,481-2,747-3,378-4,869
-5,515-5,435-6,572-9,655
-12,084-12,564-13,311-14,217-21,680-32,961-42,532-53,626-57,097-54,549-69,542-66,115-70,013-82,908
-105,317-125,963-118,146
-30,074-33,484-31,718-30,687
-28,957-31,307-29,210-28,672
-27,846-25,942-26,303
Net
560857
1,4841,3551,5092,0502,1962,1122,3472,7303,1023,3842,9653,0713,3793,7554,2944,5965,0415,3505,0475,2745,9906,044
6,2337,2728,192
12,15315,50312,78715,97517,96120,14430,13628,85631,34928,25027,42323,39416,16610,9697,6295,3532,688
11,945
900-1,184
4992,472
3,0027
2,8026,133
4,8832,3452,502
Balanceon goods,services,
andincome
7,87611,7147,3906,7222,6975,8385,7275,3715,8615,5167,7209,5255,4313,1406,8867,9497,6648,806
11,06310,0147,9877,8786,2406,1358,4865,9692,749
14,05311,21025,1919,894
-9,285-9,639
5,6039,467
15,2233,907
-30,188-86,385
-106,859-129,384-145,527-111,294-90,814-69,794
-24,032-24,701-22,426-19,656
-18,635-17,485-19,555-14,122
-6,438-4,101-8,522
Unilateraltransfers,
net 4
-2,991-2,722-4,973-5,849-4,537-4,954-5,113-6,657-5,642-5,086-4,990-4,763-4,647-4,422
-4,062-4,127-4,277-4,392-4,240-4,583-4,955-5,294-5,629-5,735
-6,156-7,402-8,544-6,913
* -9,249-7,075-5,686-5,226-5,788-6,593-8,349-8,331-9,775-9,956
-12,621-15,473-16,009-14,674-14,943-15,491-22,329
-3,547-3,107-3,794-5,044
-4,032-4,693-4,326-9,280
16,9397,129
-1,937
Balanceon
currentaccount
4,8858,9922,417
873-1,840
884614
-1,286219430
2,7304,762
784-1,282
2,8243,8223,3874,4146,8235,4313,0312,583
611399
2,331-1,433-5,795
7,1401,962
18,1164,207
-14,511-15,427
-9911,1196,892
-5,868-40,143-99,006
-122,332-145,393-160,201-126,236-106,305-92,123
-27,579-27,808-26,220-24,700
-22,667-22,178-23,881-23,402
10,5013,028
-10,459
1 Excludes military.2 Adjusted from Census data for differences in valuation, coverage, and timing.3 Quarterly data are not seasonally adjusted.4 Includes transfers of goods and services under U.S. military grant programs.See next page for continuation of table.
412Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-100.—U.S. international transactions, 1946-91—Continued
[Millions of dollars; quarterly data seasonally adjusted, except as noted]
Year orquarter
19461947194819491950195119521953195419551956195719581959.1960...1961196219631964.1965196619671968196919701971197219731974197519761977197819791980198119821983.19841985198619871988198919901989:1
I I . .IllIV
1990:1.....||HIIV
1991:1 . .IIIll P
U.S. assets abroad, net[increase/capital outflow (-)]
Total
-4,099-5,538-4,174-7,270
9560-5,716-7,321-9,757
-10,977-11,585-9,337
-12,475-14,497-22,874-34,745
39703-5U69-34,785-61,130-64,331
-86,118-110,951-124,490
56100-31,070-27,721-92,030
62937-86,057
-128,610-57,706-37,576-4,270
-45,743-41,021
37,147-33,462-26,689-34,703
-923-14,982-11,971
U.S.officialreserve
assets36
623-3315
1736-2661,758
33415
1,256480182869
11652,2921,0352,145
6071,535
378171
1,22557053
-870-1,179
2,4812,349-4158
-1,467849
-2,558375732
-1,133-8,155-5,175-4,965-1,196-3,131
3858'312
9,149-3,912
-25,293-2,158
400012095
-5,9%-3,202
3177371
1,739-1,091
-3531,0143,877
OtherU.S.
Govern-mentassets
-1,100-910
-1,085-1,662-1,680-1,605-1,543-2,423-2,274-2,200
-1,589-1,884-1,568-2,644
5 3663474
-4,2143693
-4,660-3,746-5,162-5,097-6,131-5,006-5,489
2 821-2,022
1,0062,9661,3202,976
928-292
564119
-669-800-3144,7591,422-4932,715
U.S.privateassets
5144-5,235
4623-5,986
8050-5,336
6347-7,386
7833-8,206
-10,22912940
-12,925-20,388-33,643-35,380-44,498-30,717
57202-59,453-72,802
-100,679-113,394-49,898-22,451-21,043-90,321-73,091
85111-104i637-58,524
345048,117
-40,3113793840,993
-33,03328114
-38,370
-1,992-15,503-18,564
Foreign assets in the U.S., net[increase/capital inflow ( + )]3
Total
2,2942,7051,9113,2173,643
7423,6617,3799,928
12,702
6,35922,97021,46118,38834,24115,67036,51851,31964,03638,752
58,11283,03293,74684,869
102,621130,012221,599229,828221,534216,54986,30369,5572,498
74,25570,238
-33,08231,25749,09639,033-7293,503
22,816
Foreignofficialassets
1,473765
1,2701,9861,660
134672
3,451-774
-1,301
6,90826,87910,4756,026
10,5467,027
17,69336,81633,678
-13,66515,4974,9603,5935,8453,140
-1,08335,58845,34339,6578,624
32,4257,766
-5,03813,0537 158
-7,0225,805
13,34120,3016,631
-3,1054,309
Otherforeignassets
8211,939
6411,2311,983
6074,3333,928
10,70314,002
-550-3,90910,98612,36223,6968,643
18,82614,50330,35852,41642,61578,07290,15479,02399,481
131,096186,011184,485181,877207,92553,87961,7917,536
61,20277,396
-26,05925,45235,75418,732
-7,3616,608
18,507
Alloca-tions ofspecialdrawingrights(SDRs)
867717710
1,1391,1521,093
ZZZI
Statisticaldiscrepancy
Total(sum of
the itemswith signreversed)
-1,019-9891 124'360
-907457629205438
-1,516219
-9,779-1,879-2,654-1,458
5,91710,544
-2,02312,52125,43125,73619,93436,61211,37427,45620,04115,824
-6,690-9,24018,36663,526
-4,40229,580
-2,292-4,51718,60124,383
1,47519,072
-8,8498,451-386
Of which:Seasonaladjust-ment
discrep-ancy
EEE
4,066-78063793,0964,367
105-6,473
2,007
3,995166
-6,059
5 Includes extraordinary U.S. Government transactions with India.8 Consists of gold, special drawing rights, foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF).Source: Department of Commerce, Bureau of Economic Analysis.
413Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-101.—£7.5". merchandise exports and imports by principal end-use category, 1965-91
[Billions of dollars; quarterly data seasonally adjusted]
Year orquarter
19651966196719681969
197019711972 ..19731974
197519761977 .1978 1
1979
19801981198219831984
19851986198719881989
1990
1989: 1III I IIV
1990: 1liIllIV
1991:1IIIll"
Exports
Total
26.529.330.733.636.4
42.543.349.471.498.3
107.1114.7120.8142.1184.5
224.3237.1211.2201.8219.9
215.9223.4250.3320.3361.5
389.6
87.291.690.192.5
95.297.196.6
100.6
100.9104.2104.5
Agri-cultur-
alprod-ucts
6.36.96.56.36.1
7.47.89.5
18.022.4
22.223.424.329.935.6
42.244.037.237.138.4
29.627.429.538.242.2
40.2
10.710.810.110.5
10.710.29.89.5
9.99.6
10.2
Nonagricultural products
Total
20.222.424.227.330.3
35.135.539.953.475.9
84.891.496.5
112.2148.9
182.1193.0174.01647181.5
186.4196.0220.7282.1319.3
349.3
76.580.880.082.0
84.586.986.891.1
91.094.794.4
Indus-trial
suppliesand
mate-rials
7.68.28.59.6
10.3
12.310.911.917.026.3
26.828.429.834.052.1
65.363.858.052.956.8
54.859.463.682.691.9
96.7
22.323.823.222.7
23.123.223.926.5
26.325.425.1
Capitalgoodsexcept
automo-tive
8.18.99.9
11.112.4
14.715.416.922.030.9
36.639.139.847.360.0
76.383.976.071.377.0
79.682.992.4
119.0139.3
153.8
32.735.035.935.8
37.838.838.339.0
39.042.641.6
Auto-motive
1.92.42.83.53.9
3.94.75.56.98.6
10.612.113.415.718.3
17.419.717.418.622.6
25.125.328.133.934.9
37.4
8.88.88.49.0
8.99.79.69.3
8.510.111.2
Other
2.62.93.03.23.7
4.34.55.67.6
10.0
10.811.713.515.218.5
23.225.622.521.825.1
26.828.336.646.653.1
61.4
12.813.212.514.5
14.815.215.116.4
17.216.516.5
Imports
Total
21.525.526.933.035.8
39.945.655.870.5
103.8
98.2124.2151.9176.0212.0
249.8265.1247.6268.9332.4
338.1368.4409.8447.3477.4
497.7
116.6120.3119.3121.1
122.8121.2125.4128.3
119.3119.6125.0
Petro-leumand
prod-ucts
2.02.12.12.42.6
2.93.74.78.4
26.6
27.034.645.042.661.0
79.478.662.055.358.0
51.334.442.939.650.9
62.1
11.013.613.113.3
15.812.815.518.0
13.212.913.0
Nonpetroleum products
Total
19.523.424.830.633.2
36.941.951.162.177.2
71.289.7
106.9133.4151.1
170.4186.5185.6213.6274.4
286.8334.0366.8407.7426.4
435.6
105.6106.8106.3107.8
107.0108.4109.9110.3
106.1106.7112.0
Indus-trial
suppliesand
mate-rials
9.110.210.012.011.8
12.413.816.319.627.8
24.029.835.740.647.5
52.956.448.953.966.0
62.469.970.883.184.2
82.5
21.421.320.620.9
20.220.520.821.0
20.120.220.1
Capitalgoodsexcept
automo-tive
1.52.22.52.83.4
4.04.35.98.39.8
10.212.314.019.424.5
31.436.938.443.260.5
61.472.185.1
102.2112.5
116.4
26.828.428.229.0
28.428.929.130.0
29.830.330.5
Auto-motive
0.91.82.44.04.9
5.57.48.7
10.312.0
11.716.218.625.026.5
28.130.934.043.256.6
65.178.185.287.987.4
87.3
23.321.821.321.0
21.421.822.621.5
20.519.723.0
Other
8.09.29.9
11.813.0
15.016.420.223.927.5
25.331.438.648.452.6
58.062.364.373.391.4
97.9113.9125.7134.5142.4
149.3
34.135.336.136.9
37.037.137.537.8
35.736.638.4
1 End-use categories beginning 1978 are not strictly comparable with data for earlier periods. See Survey of Current Business, June 1988.
Note.—Data are on an international transactions basis and exclude military.In June 1990, end-use categories for merchandise exports were redefined to include reexports; beginning with data for 1978 reexports
(exports of foreign merchandise) are assigned to detailed end-use categories in the same manner as exports of domestic merchandise.
Source: Department of Commerce, Bureau of Economic Analysis.
414Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-102.—U.S. merchandise exports and imports by area, 1982-91
[Billions of dollars]
Item
Exports
Industrial countries
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia ..
Other countries, exceptEastern Europe
OPEC8
Other3
Eastern Europe
Internationalorganizations andunallocated
Imports
Industrial countries
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated ...
Balance (excess ofexports + )
Industrial countries
CanadaJapanWestern EuropeAustralia, New Zealand,
and South Africa
Australia
Other countries, exceptEastern Europe
OPEC2
Other3
Eastern Europe
Internationalorganizations andunallocated ..
1982
211.2
127.3
39.2207597
7.7
44
801
207595
37
1
247.6
1441
48537.7529
5.0
2.3
1024
3157091 1
o
364
169
-931706.8
2.6
21
-22.3
109114
27
0
1983
201.8
128.4
44.521.8554
6.6
3.9
704
15.3552
3.0
.1
268.9
1599
56042.855.6
5.4
2.3
1076
253823
14
0
67 1
31 5
11521 1-.2
1.2
16
-37.2
10027 1
16
1
1984
219.9
141.0
53.0232569
7.8
48
746
138608
43
.0
332.4
2055
67660.2721
5.6
2.7
1247
269978
22
1125
64 5
14637 0
-15.2
2.2
21
-50.1
131370
2 1
o
1985
215.9
140.5
55.422.1560
7.0
51
720
114606
33
.2
338.1
2191
70465.7775
5.6
2.7
1171
227945
18
1221
78 6
15043 5
-21.4
1.4
24
-45.2
113339
14
2
1986
223.4
150.3
56.526.4604
7.1
5.1
710
10.4606
2.1
368.4
2454
69.780.8890
5.9
2.6
121 1
1891022
20
1451
95 0
132544
-28.6
1.1
25
-50.1
85416
1
1987
250.3
165.6
62.027.668.6
7.4
5.3
82.4
10.7717
2.3
409.8
2597
73.684.696.1
5.4
3.0
1482
2441238
19
1595
94 0
11657 0
-27.5
2.0
23
-65.8
137521
3
1988
320.3
207.3
74.337.286.4
9.4
6.8
109.1
13.895.3
3.8
.1
447.3
2834
84.789.8
102.6
6.2
3.5
161.8
230138.8
22
1270
760
-104526
-16.2
3.2
33
-52.7
93434
17
1
1989
361.5
233.8
80.743.998.4
10.9
8.1
121.9
13.1108.9
5.5
.2
477.4
2925
89.993.5
102.4
6.6
3.9
182.8
307152.1
21
1159
587
-9.3497
-4,0
4.2
4.2
-60.9
176432
35
2
1990
389.6
254.1
83.648.0
111.4
11.2
8.3
130.6
13.4117.2
4.3
.6
497.7
299.3
93.089.7
109.3
7.3
4.4
196.1
380158.1
2.3
1081
452
-9.54172.1
3.8
3.9
-65.6
246409
21
.6
1991 first3 quartersat annual
rate1
412.9
260.0
84.847.7
116.3
11.2
8.0
147.9
17.8130.2
4.5
.4
485.3
291.8
92.990.2
101.4
7.3
4.2
191.7
33.3158.4
1.8
-724
31 8
8.042614.9
3.9
3.8
-43.7
155-282
27
.4
1 Preliminary; seasonally adjusted.2 Organization of Petroleum Exporting Countries, consisting of Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3 Latin America, other Western Hemisphere, and other countries in Asia and Africa, less members of OPEC.Note.—Data are on an international transactions basis and exclude military.Source: Department of Commerce, Bureau of Economic Analysis.
415Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-103.—U.S. merchandise exports, imports, and trade balance, 1972-91[Billions of dollars; monthly data seasonally adjusted]
Year ormonth
197219731974
1974197519761977197819791980
1981198219831984198519861987....1988198919901990:
JanFebMarAprMayJuneJulyAugSeptOct.NovDec
1991:JanFebMarAprMayJuneJulyAugSeptOctNov
Merchandise exports (f.a.s. value) l
Total 2
Principal end-use commodity category
Foods,feeds,andbev-er-
ages
In-dus-trialsup-pliesandma-teri-als
Cap-ital
goodsex-ceptauto-mo-tive
Auto-mo-tivevehi-cles,parts,anden-
gines
Con-sum-
erBOOdS(non-food)
ex-ceptauto-mo-tive
Other2
General merchandise imports (customs value) 3
Total
Principal end-use commodity category
Foods,feeds,andbev-er-
ages
In-dus-trialsup-pliesandma-teri-als
Cap-ital
goodsex-ceptauto-mo-tiwp
Auto-mo-tivevehi-cles,parts,anden-
gines
Con-sum-
er
.ex-ceptauto-mo-tive
Other
F.a.s. value 5 Customs value
49971.999.4
9941089116.81232145818642256
238.7216.4205.6224.0
7 218.87 227.2
254.1322.4363.8393.6
31.531.733.132.132.633.832.232.532.234.633.633.6
34.133.634.035.635.335.035.234.435.337.137.5
31.330.931.524.022.324.332.337.235.1
3.23.03.23.03.03.32.82971?6?92.6
2.73.13029302.93.12 93.03.23.4
61.756.761.758.557.366.785.199.3
104.4
8.68.08.68.48.38.48.1878899959.2
9.59.7899?948.79.1918.59.38.9
72.767.272.073.975.886.2
109.?138.8152.7
11.912.912.712.512.713.412.712 612 6131
13.2
13.012.413514413714.413.713414.314,415.3
15.716.820.622.921.7?4.6?9.334.837.4
- 2 . 63.03.43.13.43.33.131
3,43?2.8
3.12.6?934353.53.63.?3.63.83.7
14.313.413.312.614.217.7
36.443.3
3.43.33.53.53.63.93.7353539373.8
3.93.93838383.73.73.73.84.24.1
20.720.524.027.335.934.643.417.220.7
1.81.51.81.61.71.61.81.61.71.81.91.9
1.91.919192.01.92.12.02.12.22.1
55669.5
103.3
F.a.s. value 5
1026985
123.51504174820952449
Customs value
2610244.0258.0
•330.7• 336.5
365.4406.2441.0473.2495.3
41.639.241.739.740.840.241.441.941.344.543.139.9
41.539.138.140.140.138.841.240.942.343.441.0
17.118.221.021.9?4.4748?4825.126.6
2.32.22.42.32.32.22.22 177772.12.2
2.22.12.12.42.32.32.32.12.?2.22.2
112.0107.0123.7113.9101.3111.0118.3132.3143.2
12.811.511.710.611.510.911.1
12.413.513.411.6
12.210.810.111.011.310.510.810.911.211.210.7
35.440.959.865.171.884.5
101.4113.3116.4
9.79.09.69.79.69.6
10.09.79.4
10.310.09.8
9.99.99.9
10.410.19.8
10.49.9
10.310.69.7
33.340.853.566.878.285.287.786.187.3
6.66.98.07.27.37.47.67.77.27.77.16.6
7.36.76.66.76.56.67.28.07.67.97.1
39.744.960.068.379.488.795.9
102.9105.7
9.08.38.88.78.88.69.18.98.69.49.08.3
8.68.58.08.58.48.19.38.79.6
10.39.9
6.56.37.89.4
10.412.112.813.616.1
1.21.21.31.21.31.41.31.31.61.41.51.3
1.31.21.31.31.51.41.31.31.31.41.4
n__
eralmer-chan-diseim-
ports
value)4
58973.2
110.9
11091059132.5160.4186.022222570
273.4254.9269.9346.4352.5382.3424.4459.5493.2517.0
43.540.943.641.542.641.943.343.743.146.445.041.6
43.440.939.842.041.840.443.042.744.145.242.7
Trade balance
Ex-ports
(f.a.s.)lessim-
ports(cus-tomsval-ue;
572.4
-3.9
31104
-6.7-27.2-28.9-231-193
-22.3-27.5-52.4
-106.7-117.7-138.3-152.1-118.5-109.4-101.7
-10.1-7.5-8.6-7.6-8.1-6.3-9.2-9.4-9.1-9.9-9.5-6.3
-7.4-5.5-4.1-4.5-4.8-3.8-5.9-6.5-6.9-6.3-3.6
Ex-ports
(f.a.s.)lessim-
ports
90-1.3
-11.4
-11430
-15.7-37.2-40.2-359-314
-34.6-38.4-64.2
-122.4-133.6-155.1-170.3-137.1-129.4-123.4
-12.0-9.2
-10.5-9.4
-10.0-8.1
-11.1-11.2-10.8-11.7-11.4-8.0
-9.2-7.3-5.8-6.4-6.6-5.5-7.8-8.3-8.8.-8.1-5.3
1 Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance Program are excludedfrom total exports through 1985 and included beginning 1986.2 Includes undocumented exports to Canada through 1988. Beginning 1989, undocumented exports to Canada are included in theappropriate end-use category.
3 Total arrivals of imported goods other than intransit shipments.4 C.i.f. (cost, insurance, and freight) import value at first port of entry into United States. Data for 1967-73 are estimates.6 F.a.s. (free alongside ship) value basis at U.S. port of exportation for exports and at foreign port of exportation for imports.6 Total includes revisions not reflected in detail.7 Total exports are on a revised statistical month basis; end-use categories are on a statistical month basis.Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately prior to 1969.
Trade in gold is included beginning 1974. Export statistics cover all merchandise shipped from the U.S. customs area, except suppliesfor the U.S. Armed Forces. Exports include shipments under Agency for International Development and Food for Peace programs as wellas other private relief shipments.
Data beginning 1974 include trade of the U.S. Virgin Islands.Source: Department of Commerce, Bureau of the Census.
416Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-104.—International reserves, selected years, 1952-91
[Millions of SDRs; end of period]
Area and country
All countries
Industrial countries *
United StatesCanadaAustraliaJapanNew Zealand
AustriaBelgium - ....DenmarkFinlandFrance
Germany .GreeceIcelandIrelandItalyNetherlands.
NorwayPortugalSpainSwedenSwitzerlandUnited Kingdom ....
Developing countries: Total 2
By area:
AfricaAsia z
Europe 3
Middle EastWestern Hemisphere
Memo:
Oil-exporting countriesNon-oil developing countries 2
1952
49388
39,280
247141,944
9201101
183
1161,133
150132686
96094
8318722953
164603134504
16671956
9,648
17863793
2691,1832616
16997949
1962
62851
53,502
172202,56111682021
251
1,0811753
256237
4049
6,958287
32359
40681943
304680
1,045802
29193308
9349
2 1102772
38118052282
20307319
1972
146 658
113,362
121125,5725,656
16916767
2,5053564
787664
9224
21,908950
78103856054407
1,22021294,618145369615201
33295
39628129268094369089
995623339
1982
361,253
214,014
299183,4286,053
22001577
5,5444,75721111,420
17,850
43,909916133
23901510810,723
6,27211797,4503397
1693011904
147,239
7734444905359
6409425563
67 16380076
1988
576,103
381,104
3647112,03710,383727272,108
6,2158,11380574,801
21,713
46,8242808
2183,793
2813113,483
9,9014372
28,0416,523
2090033,438
195,000
7815112 1621001341,64423366
42993152 006
1989
624 146
410,113
5752512,78110,763647352,303
7,2669,25049253,959
21592
49,5272572
2583100
3788414,100
10,5318135
32,1047487
2214827,121
214,033
9460121 6901493142,28825664
44363169 670
1990
670 780
441,924
5995813,06011,710560272,902
7,3059,59975026,849
28,716
51,0602517
3083,684
4656513,827
10,8191073636,55512,8562345625,864
228,856
11935128 8261564138,01134443
43930184926
19
Nov
695,275
428,867
5522513,01712,250521792,391
7,944
53723,690
24,969
47,8793,910
2483,913
4004413,874
9,19314,70146,33610,6432198729,963
266,407
13337153,2791531642,32742,148
48446217,961
H
Dec
55,77011,81611,83751,224
7,924
5,234
46,9963,857
3164,017
36,36513,980
9,292
46,562
23,19129,948
1 Includes data for Luxembourg.2 Includes data for Taiwan Province of China.3 As of this Report, data include Czechoslovakia.
Note.—International reserves is comprised of monetary authorities' holdings of gold (at SDR 35 per ounce), special drawing rights(SDRs), reserve positions in the International Monetary Fund, and foreign exchange. Data exclude U.S.S.R., other Eastern Europeancountries, and Cuba (after 1960).
U.S. dollars per SDR (end of period) are: 1952 and 1962—1.00000; 1972—1.08571; 1982—1.10311; 1988—1.34570; 1989—1.31416; 1990—1.42266; November 1991—1.38072; and December 1991—1.43043.
Source: International Monetary Fund, International Financial Statistics.
417Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-105.—Industrial production and consumer prices, major industrial countries, 1967-91
Year or quarter
19671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989 ... .1990 *1991 "1990-1
IIIllIV
1991- 1IIIllIV*
1967 .196819691970 ..1971197219731974197519761977197819791980198119821983 .1984198519861987198819891990 .19911990- 1
IIIllIV
1991- 1||IllIV
UnitedStates Canada Japan
EuropeanCommu-nity1
France Germany 2 Italy UnitedKingdom
Industrial production (1987= 100) 3
57.560.763.561.462.268.373.872.766.372.478.282.685.784.185.781.984.992.894.495.3100.0105.4108.1109.21071108.3109.4110.5108.5105.8106.4108.1108.0
51.154.358.158.862.066.773.876.171.676.079.382.186.183.184.876.581.591.496.595.4100.0105.5105.3100.8
102.3101.9101.197.795.596.897.9
36.241.748.355.056.559.667.966.459.466.068.673.078.181.782.682.985.593.496.896.6100.0109.3115.7121.3
117.5120.0123.1124.5124.5124.1124.3
59.363.769.673.174.778.083.784.378.784.586.695.493.192.891.189.990.892.895.898.0100.0104.3108.2110.2
109.3109.3110.1110.0110.0109.7
61626972778187908390929499
98.998.397.396.597.197.298.0100.0104.7108.9110.2
109.4110.3112.1109.8110.2110.8
57.662.970.975.577.079.985.084.879.686.888.090.494.795.093.290.390.993.597.799.6100.0103.9108.7114.6
112.4112.6116.2116.6118.6118.7117.7
58.561.964.268.368.070.877.781.273.782.983.885.491.196.294.891.888.891.892.996.2100.0105.9109.2109.2
110.3108.5110.1108.0108.4106.2105.9
70.575.978.578.978.579.987.085.480.883.487.690.193.687.584.886.489.689.794.696.9100.0103.6104.0103.3
103.9105.9102.8101.0100.899.5100.6
Consumer prices (1982-84=100)
33.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6103.9107.6109.6113.6118.3124.0130.7136.2128.0129.3131.6133.7134.8135.6136.7137.7
31.332.534.035.136.137.940.745.250.153.858.163.369.176.185.694.9100.4104.8108.9113.4118.4123.2129.3135.5143.1133.3134.6136.0137.9141.9143.0143.8143.6
32.234.035.838.540.942.947.959.066.072.178.081.384.390.995.498.099.9102.1104.2104.9105.0105.7108.1111.4
109.6111.1111.6113,5114.1115.0115.0
23.224.025.026.328.029.832.437.042.447.653.558.665.074.083.192.2100.2107.5114.2118.5122.5126.9133.7141.3
138.0140.5142.2144.4145.9147.7149.4
24.625.727.428.730.332.234.539.343.948.152.757.563.672.281.891.7100.3108.0114.3117.2121.1124.4128.9133.2137.2131.2132.3133.7135.0135.7136.6137.7138.9
49.350.151.052.955.658.762.867.271.274.276.979.082.386.892.297.0100.3102.7104.9104.7104.9106.3109.2112.1116.0111.2111.8112.3113.3114.2115.2116.9117.7
16.016.216.616.817.618.720.624.628.833.640.145.152.163.275.487.7100.8111.5121.1128.5134.4141.1150.4159.6169.8156.3158.1160.3163.5166.6168.9170.5173.5
18.519.420.421.823.825.527.932.340.246.854.258.766.678.587.995.499.8104.8111.1114.9119.7125.6135.4148.2156.9141.4148.0150.5152.8153.7156.9157.6159.2
1 Consists of Belgium-Luxembourg, Denmark, France, Greece, Ireland, Italy, Netherlands, United Kingdom, Germany, Portugal, andSpain. Industrial production prior to July 1981 excludes data for Greece, which joined the EC in 1981. Data for Portugal and Spain,which became members on January 1,1986 are excluded prior to 1982.2 Former West Germany.3 All data exclude construction. Quarterly data are seasonally adjusted.
Sources: National sources as reported by Department of Commerce (International Trade Administration, Office of Finance, Industryand Trade Information, Industry and Trade Statistics Division), Department of Labor (Bureau of Labor Statistics), and Board ofGovernors of the Federal Reserve System.
418Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-106.—Civilian unemployment rate, and hourly compensation, major industrial countries,
1965-91
[Quarterly data seasonally adjusted]
Year or quarter
196519661967196819691970197119721973 . . . . .19741975197619771978197919801981198219831984198519861987198819891990 . ..19911990:1
IIIllIV
1991:1IIIIIIV
196519661967196819691970197119721973 ....1974197519761977....1978197919801981198219831984198519861987198819891990
UnitedStates Canada Japan France Germany 1 Italy United
Kingdom
Civilian unemployment rate (percent)2
4.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.0
' 6.25.55.35.5675.25.35.66.06.56.76.86.9
3.63.43.84.54.45.76.26.25.55.36.97.18.18.37.47.57.5
11.011.811.210.59.58.87.87.58.1
"10.37.57.58.39.1
10.110.310.410.3
1.21.41.31.21.11.21.31.41.31.41.92.02.02.32.12.02.22.42.72.82.62.82.92.52.32.1
2.12.12.12.22.12.12.2
1.61.62.12.72.32.52.82.92.82.94.14.55.15.36.06.47.68.38.5
10.010.410.610.710.29.69.2
9.29.19.19.29.49.8
10.0
0.3.3
1.31.1.6.5.6
'.71.63.43.43.43.32.92.84.05.6
3 6.97.17.26.66.3
"6.3"5.7"5.2"46
5.45.35.14.84.64.64.64.5
3.53.73.43.53.53.23.33.83.73.13.43.94.14.14.44.44.95.45.95.96.0
"7.57.97.97.8
"7.0
7.46.86.96.96.97.06.7
2.12.33.33.23.13.13.94.23.23.14.65.96.46.35.47.0
10.511.311.811.811.211.210.38.6
"7.1"6.9"9.4
6.76.86.97.38.29.2
10.010.3
Manufacturing hourly compensation in U.S. dollars ( 1982= 100) 4
26.227.428.931.033.435.837.939.842.947.753.457.962.968.274.883.791.8
100.0102.6105.9111.1116.2118.9122.9127.7131.8
22.824.726.128.230.433.937.741.344.352.257.367.769.569.874.883.093.1
100.0106.2105.9105.6107.8116.3130.5144.3156.7
8.59.3
10.512.214.617.420.727.337.445.652.156.268.694.095.598.3
107.6100.0107.7111.0115.0171.2204.0234.5230.8231.1
15.516.417.619.820.121.224.028.937.841.457.359.365.681.097.3
113.5102.0100.095.390.495.6
129.3154.7159.7155.3189.1
13.214.315.216.318.122.927.032.544.251.659.762.974.592.8
109.1119.3102.2100.099.993.996.0
135.6171.4182.1178.3221.8
15.116.017.718.920.625.129.434.941.248.160.559.065.778.897.4
111.1100.9100.0104.3103.5107.0142.7173.3179.9186.9237,3
15.817.117.316.217.620.424.028.431.736.345.943.147.160.579.7
106.1105.9100.092.787.491.0
111.5133.0152.4153.5186.6
1 Former West Germany.2 Civilian unemployment rates, approximating U.S. concepts. Quarterly data for France, Germany, and United Kingdom should be
viewed as less precise indicators of unemployment under U.S. concepts than the annual data. Many Italians reported as unemployed didnot actively seek work in the past 30 days, and they have been excluded for comparability with U.S. concepts. Inclusion of such personswould about double the unemployment rate for Italy through 1985, and increase it to 11-12 percent for 1986 forward.
'There are breaks in the series for Germany (1983) and Italy (1986). Based on the prior series, the rate for Germany was 7.4percent in 1983 and the rate for Italy was 6.3 percent in 1986.4 Hourly compensation in manufacturing, U.S. dollar basis. Data relate to all employed persons (wage and salary earners and the self-employed) in the United States and Canada, and to all employees (wage and salary earners) in the other countries. For France andUnited Kingdom, compensation adjusted to include changes in employment taxes that are not compensation to employees, but are laborcosts to employers.
Source: Department of Labor, Bureau of Labor Statistics.
419Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-107.—Foreign exchange rates, 1967-91
[Currency units per U.S. dollar, except as noted]
Period
March 1973
19671968196919701971197219731974197519761977197819791980198119821983 ..19841985 .1986198719881989199019911990-1
IIIllIV
1991- 1II..IllIV
March 1973
196719681969197019711972197319741975197619771978 ...19791980 .19811982 . .1983.198419851986 .1987198819891990 .19911990- 1
IIIllIV
1991:1||IIIIV
Belgium(franc)
39.408
49.68949.93650.14249.65648.59844.02038.95538.95936.80038.60935.84931.49529.34229.23837.19545.78151.12357.75259.33744.66437.35836.78539.40933.42434.19535.29434.59432.75931.02331.62635.65835.87033.482
Netherlands(guilder)
2.8714
3.60243.61983.62403.61663.49533.20982.79462.68792.52932.64492.45482.16432.00731.98752.49992.67192.85443.20853.31852.44852.02641.97782.12191.82151.87201.90641.88751.79471.69551.73121.95331.96331.8322
Canada(dollar)
0.9967
1.07891.07761.07691.04441.0099.99071.0002.97801.0175.98631.06331.14051.17131.16931.19901.23441.23251.29521.36591.38961.32591.23061.18421.16681.14601.18231.17071.15301.16121.15611.14931.14401.1350
Sweden(krona)
4.4294
5.16215.16835.17015.18625.10514.75714.36194.43874.15314.35804.48024.52074.28934.23105.06606.28397.67188.27088.60327.12736.34696.13706.45595.92316.05216.15826.08675.82995.61365.70296.22606.32395.9357
France(franc)
4.5156
4.92064.95295.19995.52885.51005.04444.45354.81074.28774.78254.91614.50914.25674.22515.43976.57947.62048.73568.98006.92576.0122595956.38025.44675.64685.73585.64065.33965.06615.22295.87155-92025.5497
Switzerland(franc)
3.2171
4.32834.31634.31314.31064.11713.81863.16882.98052.58392.50022.40651.79071.66441.67721.96752.03272.10072.35002.45521.79791.49181.46431.63691.39011.43561.50701.44351.33561.27361.31191.47401.51731.4335
Germany(mark)
2.8132
3.98653.99203.92513.64653.48303.18862.67152.58682.46142.51852.32362.00971.83431.81752.26322.42812.55392.84552.94202.17051.79811.75701.88081.61661.66101.69161.67731.59261.50331.53571.73361.74211.6256
United Kingdom(pound) l
247.24
275.04239.35239.01239.59244.42250.34245.25234.03222.17180.48174.49191.84212.24232.46202.43174.80151.59133.68129.74146.77163.98178.13163.82178.41176.74165.55167.50186.42194.39190.48170.95168.61177.57
Italy(lira)
568.17
624.09623.38627.32627.12618.34583.70582.41650.81653.10833.58882.78849.13831.11856.211138.581354.001519.321756.111908.881491.161297.031302.391372.281198.271241.281254.811231.811176.031129.711150.421286.271300.751222.85
Japan(yen)
261.90
362.13360.55358.36358.16347.79303.13271.31291.84296.78296.45268.62210.39219.02226.63220.63249.06237.55237.46238.47168.35144.60128.17138.07145.00134.59148.15155.38145.27130.86133.98138.32136.38129.50
Multilateral trade-weighted value ofthe U.S. dollar (March 1973=100)
Nominal
100.0
120.0122.1122.4121.1117.8109.199.1101.498.5105.7103.492.488.187.4103.4116.6125.3138.2143.0112.296.992.798.689.189.893.292.687.583.084.792.993.388.2
Real2
100.0
98.999.494.197.693.384.483.284.9100.9111.8117.3128.8132.4103.690.988.294.486.086.589.889.084.680.681.989.689.784.7
1 Cents per unit of foreign currency.2 Adjusted by changes in consumer prices.Source: Board of Governors of the Federal Reserve System.
420Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-108.—Growth rates in real gross national product/gross domestic product, 1971-91
[Percent change]
Area and country
OECD countries2 .
United StatesCanadaJapan
European Community 3
FranceGermany 4
ItalyUnited Kingdom
U.S.S.REastern EuropeChina
1971-75annualaverage
3.1
23524.5
29
35222.821
3.0497.4
1976-80annualaverage
3.5
3.2404.6
32
31334.819
18214.2
1981-85annualaverage
2.4
2.5293.8
15
15121.619
1.7129.2
1986
2.7
29332.6
27
25222.539
4.1307.8
1987
34
31424.3
27
23153.048
1.34
9.4
1988
45
3.9476.2
40
42374.243
2.115
11.2
1989
33
25254.7
35
39383.023
1.5-12
4.0
1990
2.6
1.05
5.6
29
28452.0
.8
-3.7-8.0
5.0
1991 1
1.1
_J-11
4.5
14
14321.0
-19
-13.0-100
6.5
1 Estimates.2 OECD (Organization for Economic Cooperation and Development) includes Australia, Austria, Belgium, Denmark, Finland, France,
Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spam, Sweden, Switzerland, Turkey,and United Kingdom, not shown separately.
3 Includes Belgium, Denmark, Greece, Ireland, Luxembourg, Netherlands, Portugal, and Spain, not shown separately.4 Former West Germany.Sources: Department of Commerce, Organization for Economic Cooperation and Development, and Council of Economic
Advisers.
421Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
NATIONAL WEALTH
TABLE B-109.—National wealth, 1945-90
[Billions of dollars]
End of year
19451946194719481949
1950.1951195219531954
19551956195719581959...
19601961196219631964
19651966196719681969
1970 .. ..1971197219731974
19751976197719781979
19801981198219831984
1985... .1986198719881989
1990 .
Totalnet
worth1
439.1500.0574.8622.9651.6
759.1856.0903.3921.4
1,022.0
1,131.61,224.81,233.81,381.61,455.1
1,498.71,646.31,629.11,759.71,890.3
2,051.92,122.42,376.12,680.52,716.6
2,827.03,121.53,470.93,634.73,799.2
4,264.94,824.55,337.96,137.67,127.6
8,237.58,901.59,205.39,966.7
10,371.1
11,228.912,069.312,725.413,590.714,967.6
14,503.5
Private net worth 2
Total
663.0721.9782.4822.0854.6
957.71,050.31,107.91,135.91,245.9
1,355.01,446.91,459.11,623.41,704.2
1,749.31,906.41,896.92,031.62,169.0
2,333.52,410.22,682.33,000.13,037.2
3,168.33,494.53,860.04,025.44,204.1
4,751.45,371.45,927.36,762.47,772.1
8,936.19,685.8
10,142.511,089.111,669.9
12,726.513,796.414,636.915,715.617,291.1
17,110.5
Tangible wealth 3
Total 4
140.3167.4205.0235.2258.4
306.0346.8373.7397.8422.1
460.4504.1526.7552.0581.1
611.8634.0659.5684.9727.1
766.3844.3899.9
1,002.41,096.4
1,167.51,278.11,411.81,610.11,846.3
1,999.72,253.42,614.33,077.13,505.6
3,874.94,258.04,268.74,614.54,894.6
5,187.45,624.86,169.36,559.47,057.3
7,076.0
Owner-occupied
realestate
82.8100.4123.3141.1153.4
177.0199.1215.1229.1247.4
272.6297.9313.6330.5349.8
372.9388.0403.8414.7441.1
462.2510.5537.0600.4655.6
689.8767.9859.3997.5
1,137.7
1,233.11,415.91,685.02,015.82,323.6
2,568.92,845.62,804.33,062.63,242.8
3,411.03,696.44,086.54,319.44,661.1
4,586.6
Con-sumer
durables
46.253.265.176.386.6
108.2124.4134.0143.0147.1
157.3171.9176.2182.0189.0
193.7196.8202.3212.8223.7
236.1258.5283.2314.2343.7
372.4393.7424.7470.5544.2
595.7652.8725.5820.5925.3
1,020.01,096.51,141.71,206.91,286.0
1,397.71,534.11,663.71,805.61,933.8
2,023.7
Financial wealth
Total 5
522.7554.5577.5586.8596.1
651.7703.4734.2738.1823.8
894.6942.8932.3
1,071.41,123.0
1,137.51,272.51,237.41,346.71,441.9
1,567.21,565.91,782.41,997.71,940.8
2,000.82,216.42,448.22,415.22,357.8
2,751.73,118.03,313.03,685.34,266.4
5,061.35,427.85,873.86,474.56,775.3
7,539.18,171.68,467.69,156.2
10,233.8
10,034.5
Corpo-rate
equity6
111.5103.4101.2100.1109.4
133.7156.3170.4162.4235.0
286.3305.1267.4373.3402.0
395.5500.8437.1513.5564.1
634.9574.8719.3856.5744.7
727.2831.0918.4707.3491.7
637.4754.3708.8705.0857.0
1,164.51,105.01,241.11,422.01,440.1
1,888.32,202.52,098.22,233.32,615.4
2,330.0
Noncor-porateequity
188.9217.9242.0253.1253.8
285.1306.7309.6311.7317.1
328.0345.6358.8374.2382.0
387.4397.2408.7419.7434.8
456.5483.8500.4530.0554.0
573.2616.5680.9817.1908.4
991.21,120.31,276.11,522.51,784.5
2,037.22.261.22,232.82,301.62,272.3
2,245.82,298.42,415.02,492.82,633.5
2,634.7
Government net financial assets
Total 7
-223.82219
-207.61991
-202.9
-198.71943
-204.62145
-223.8
2234-222.1-225.2-241.8-249.1
-250.6-260.1-267.7-271.9-278.6
-281.6-287.8-306.2-319.6-320.7
-341.3373 1
-389.13906404 9
-486.55469
-589.4-624.8-644.5
-698.6-784.3-937.2
-1,122.4-1,298.8
-1,497.7-1,727.1-1,911.5-2,124.9-2,323.5
-2,606.9
Federal
-223.32216
-207.41988
-202.4
-195.11897
-194.5-201.0
2064
-202.8-198.5-197.0-208.2-211.3
-209.6-215.3-220.2-221.9-225.8
-226,3-228.8-242.3-251.7
-245.5
-257.4-280.6-298.6
305 73178
-394.54550
-511.75534
-580.9
-633.6-711.0-860.6
-1,050.1-1,234.7
-1,446.0-1,683.1
18601-2,056.2-2,234.7
-2,492.1
Stateandlocal
08-.6_ 5-.1-.9
-3.9-5.0
-10.5-14.0-17.9
-21.1241
-28.7-34.2-38.4
-41.7-45.5-48.3-50.8-53.7
-56.2-60.0-64.9-68.9-76.3
-85.2-93.9-92.0
869-89.9
-95.3-95.7-82.0-76.7-69.7
-72.0-81.3-86.0-82.1-74.8
-60.4-52.4-60.2-78.8-99.9
-125.9
1 Sum of private net worth and government net financial assets.2 Referred to as household net worth in the Balance Sheets.3 Held by households and nonprofit institutions.4 Also mcludes nonprofit institutions' real estate.6 Also includes credit market instruments, life insurance and pension reserves, security credit, and miscellaneous assets, and is net ofliabilities.0 Includes households and nonprofit institutions' direct (or through mutual funds) holdings of corporate equity. Equity held throughpension and life insurance reserves is not included.7 Also includes sponsored credit agencies and the Federal Reserve. Some tangible wealth is included for these agencies.
Note.—Data are from Balance Sheets for the U.S. Economy, 1945-90, September 1991.Data are measured at market value where available. For example, corporate equity and land are measured at market value, but bonds
are measured at par value.Source: Board of Governors of the Federal Reserve System.
422Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
TABLE B-110.—National wealth in 1982 dollars, 1945-90
[Billions of 1982 dollars]
End of year
19451946....194719481949
19501951195219531954
19551956.195719581959
I9601961196219631964
19651966196719681969
1970197119721973 !1974
19751976197719781979
19801981198219831984
19851986198719881989 .
1990
Totalnet
worth1
2,502.12,409.42,515.72,628.32,778.9
3,060.83,396.73,487.53,543.83,835.0
4,107.64,275.14,196.74,597.64,732.0
4,834.55,218.25,051.55,389.55,676.7
5,982.25,961.86,465.56,917.56,633.9
6,566.86,852.87,284.17,050.96,665.2
6,951.77,416.67,691.58,156.38,708.1
9,137.69,134.49,015.99,407.09,484.3
9,999.010,440.610,702.610,960.311,625.4
10,827.6
Private net worth *
Total
3,777.63,478.93,424.33,468.43,644.2
3,861.84,167.74,277.74,369.04,674.9
4,918.55,050.24,962.85,402.45,542.0
5,643.06,042.65,881.76,222.36,513.5
6,803.16,770.37,298.77,742.37,416.9
7,359.67,671.88,100.67,808.67,375.6
7,744.78,257.48,540.88,986.69,495.5
9,912.59,939.29,933.9
10,466.310,672.1
11,332.611,934.612,310.312,673.913,430.0
12,773.8
Tangible wealth *
Total *
799.2806.6897.1992.4
1,102.0
1,233.81,376.41,442.81,530.11,583.8
1,671.31,759.41,791.71,836.91,889.8
1,973.62,009.42,044.92,097.72,183.4
2,234.02,371.62,448.72,586.92,677.5
2,712.12,805.92,962.83,123.43,239.1
3,259.53,464.13,767.04,089.14,283.0
4,298.34,369.44,180.94,355.44,476.0
4,619.34,865.85,188.75,289.85,481.4
5,282.6
Owner-occupied
realestate
471.8483.8539.8595.5654.1
713.8790.2830.3881.1928.2
989.41,039.91,066.71,099.81,137.5
1,202.91,229.71,252.11,270.01,324.8
1,347.41,434.01,461.21,549.51,600.9
1,602.41,685.91,803.31,935.01,996.0
2,009.92,176.62,427.92,678.82,838.8
2,849.52,920.12,746.62,890.62,965.5
3,037.43,197.63,437.03,483.33,620.3
3,424.1
Con-sumer
durables
263.3256.2285.0321.7369.2
436.2493.7517.3549.9551.9
571.0599.9599.2605.5614.7
624.7623.8627.3651.8671.8
688.2726.1770.6810.9839.4
865.1864.4891,3912.7954.7
971.01,003.51,045.41,090.31,130.5
1,131.41,125.21,118.21,139.11,176.0
1,244.61,327.11,399.31,456.11,502.0
1,510.8
Financial wealth
Total*
2,978.42,672.32,527.12,476.12,542.1
2,628.02,791.32,834.82,838.93,091.1
3,247.13,290.93,171.13,565.53,652.1
3,669.44,033.23,836.84,124.64,330.0
4,569.14,398.64,850.05,155.44,739.4
4,647.54,865.95,137.94,685.24,136.5
4,485.24,793.34,773.84,897.45,212.5
5,614.35,569.85,753.06,110.96,196.0
6,713.47,068.97,121.67,384.07,948.6
7,491.2
Corpo-rate
equity'
635.5498.3443.1422.5466.7
539.0620.2658.0624.7881.9
1,039.21,064.9
909.51,242.31,307.3
1,275.71,587.31,355.31,572.81,694.1
1,851.01,614.51,957.32,210.21,818.5
1,689.11,824.31,927.31,372.0
862.6
1,038.91,159.61,021.4
936.81,047.0
1,291.71,133.91,215.51,342.11,317.0
1,681.51,905.21,764.71,801.02,031.4
1,739.4
Non-corpo-rate
equity
1,076.61,049.91,059.01,067.91,082.4
1,149.81,217.11,195.41,198.91,189.7
1,190.41,206.21,220.51,245.31,242.3
1,249.81,258.91,267.21,285.41,305.7
1,330.81,359.11,361.61,367.61,353.0
1,331.51,353.51,429.01,585.11,593.7
1,615.71,722.21,838.82,023.32,180.2
2,259.82,320.42,186.92,172.42,078.0
1,999.81,988.22,031.12,010.32,045.5
1,967.0
Government net financial assets
Total »
-1,275.5-1,069.5
-908.6-840.1-865.3
-801.1-771.0-790.1-825.2
8399
-810.9-775.1-766.0-804.8
8100
-808.5-824.4-830.2-832.8-836.8
-820.9-808.4-833.2-824.8-783.1
-792.88190
-816.5-757.8-710.4
-793.0-840.8-849.3-830.3-787.4
-775.0-804.8-918.0
-1,059.3-1,187.8
-1,333.6-1,494.0
1 607 7-1,713.6-1,804.6
1 946 2
Federal
-1,272.5-1,068.1
9078-838.7-862.9
-786.8-752.6
7511-772.9-774.6
-736.1-692.8-670.2-692.8-687.1
-676.0-682.3-682.8-679.6-678.1
-659.8-642.6-659.3-649.6-599.6
-597.8-616.0-626.6-593.0-557.6
-643.1-699.4-737.3-735.4-709.7
-702.9-729.6
8429-991.2
-1,129.1
-1,287.6-1,455.9-1,564.4-1,658.2-1,735.7
18605
Stateandlocal
-4.6-2.7-2.2-2.8-3.8
-15.8-20.0-40.7-53.9-67.0
766-84.0-97.7
-114.0-124.9
-134.6-144.3-149.7-155.7-161.3
-163.7-168.5-176.6-177.9-186.2
-197.8-206.0-193.2-168.5-157.8
-155.3-147.1-118.1-101.9-85.2
-79.9-83.4
843775
-68.4
538-45.4-50.6-63.5-77.6
-94.0
1 Sum of private net worth and government net financial assets.2 Referred to as household net worth in the Balance Sheets.3 Held by households and nonprofit institutions.4 Also includes nonprofit institutions' real estate.5 Also includes credit market instruments, life insurance and pension reserves, security credit, and miscellaneous assets, and is net ofliabilities.
8 Includes households and nonprofit institutions' direct (or through mutual funds) holdings of corporate equity. Equity held throughpension and life insurance reserves is not included.7 Also includes sponsored credit agencies and the Federal Reserve. Some tangible wealth is included for these agencies.
Note.-Data are from Balance Sheets for the US Economy, 1945-90, September 1991; deflated by the GNP implicit deflator, as publishedprior to the benchmark revision of the national income and product accounts in December 1991 (deflator averaged for fourth quarter ofyear shown and first quarter of following year, except for 1945 and 1946, where annual deflators are averaged.)
Data are measured at market value where available. For example, corporate equity and land are measured at market value, but bondsare measured at par value.
Sources: Board of Governors of the Federal Reserve System and Department of Commerce, Bureau of Economic Analysis.
423Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
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